XML 33 R23.htm IDEA: XBRL DOCUMENT

LOANS AND ALLOWANCE FOR LOAN LOSSES (Tables)

9 Months Ended

Sep. 30, 2021

LOANS AND ALLOWANCE FOR LOAN LOSSES

Schedule of Net loans


		September 30, 2021			December 31, 2020
Real estate
Commercial		$	2,378,074		$	1,887,505
Construction			150,144			112,290
Multifamily			374,555			433,239
One-to-four family			61,266			71,354
Total real estate loans			2,964,039			2,504,388

Commercial and industrial			611,303			591,500
Consumer			35,067			46,431
Total loans			3,610,409			3,142,319
Deferred fees			(7,121)			(5,266)
Loans, net of deferred fees and unamortized costs			3,603,288			3,137,053
Allowance for loan losses			(38,121)			(35,407)
Balance at the end of the period		$	3,565,167		$	3,101,646

Schedule of changes in the allowance for loan losses by portfolio segment


		Commercial			Commercial						Multi			One-to-four
Three months ended September 30, 2021		Real Estate			& Industrial			Construction			Family			Family			Consumer			Total
Allowance for loan losses:
Beginning balance		$	20,299		$	10,545		$	1,972		$	2,618		$	169		$	1,774		$	37,377
Provision/(credit) for loan losses			1,169			(440)			129			(331)			(13)			(24)			490
Loans charged-off			—			—			—			—			—			(54)			(54)
Recoveries			—			308			—			—			—			—			308
Total ending allowance balance		$	21,468		$	10,413		$	2,101		$	2,287		$	156		$	1,696		$	38,121


		Commercial			Commercial						Multi			One-to-four
Three months ended September 30, 2020		Real Estate			& Industrial			Construction			Family			Family			Consumer			Total
Allowance for loan losses:
Beginning balance		$	18,690			9,132			741			2,739			242			961			32,505
Provision/(credit) for loan losses			(1,611)			2,104			706			(215)			(61)			214			1,137
Loans charged-off			—			(82)			—			—			—			—			(82)
Recoveries			—			54			—			—			—			—			54
Total ending allowance balance		$	17,079		$	11,208		$	1,447		$	2,524		$	181		$	1,175		$	33,614


		Commercial			Commercial						Multi			One-to-four
Nine months ended September 30, 2021		Real Estate			& Industrial			Construction			Family			Family			Consumer			Total
Allowance for loan losses:
Beginning balance		$	17,243		$	12,123		$	1,593		$	2,661		$	206		$	1,581		$	35,407
Provision/(credit) for loan losses			4,225			(1,163)			508			(374)			(50)			169			3,315
Loans charged-off			—			(855)			—			—			—			(54)			(909)
Recoveries			—			308			—			—			—			—			308
Total ending allowance balance		$	21,468		$	10,413		$	2,101		$	2,287		$	156		$	1,696		$	38,121


		Commercial			Commercial						Multi			One-to-four
Nine months ended September 30, 2020		Real Estate			& Industrial			Construction			Family			Family			Consumer			Total
Allowance for loan losses:
Beginning balance		$	15,317		$	7,070		$	411		$	2,453		$	267		$	754		$	26,272
Provision/(credit) for loan losses			1,762			4,278			1,036			71			(86)			632			7,693
Loans charged-off			—			(254)			—			—			—			(221)			(475)
Recoveries			—			114			—			—			—			10			124
Total ending allowance balance		$	17,079		$	11,208		$	1,447		$	2,524		$	181		$	1,175		$	33,614

Schedule of allowance for loan losses and the recorded investment in loans by portfolio segment


		Commercial			Commercial						Multi			One-to-four
At September 30, 2021		Real Estate			& Industrial			Construction			Family			Family			Consumer			Total
Allowance for loan losses:
Individually evaluated for impairment		$	—		$	2,814		$	—		$	—		$	33		$	1,430		$	4,277
Collectively evaluated for impairment			21,468			7,599			2,101			2,287			123			266			33,844
Total ending allowance balance		$	21,468		$	10,413		$	2,101		$	2,287		$	156		$	1,696		$	38,121
Loans:
Individually evaluated for impairment		$	10,333		$	3,145		$	—		$	—		$	958		$	2,125		$	16,561
Collectively evaluated for impairment			2,367,741			608,158			150,144			374,555			60,308			32,942			3,593,848
Total ending loan balance		$	2,378,074		$	611,303		$	150,144		$	374,555		$	61,266		$	35,067		$	3,610,409


		Commercial			Commercial						Multi			One-to-four
At December 31, 2020		Real Estate			& Industrial			Construction			Family			Family			Consumer			Total
Allowance for loan losses:
Individually evaluated for impairment		$	—		$	3,662		$	—		$	—		$	53		$	1,203		$	4,918
Collectively evaluated for impairment			17,243			8,461			1,593			2,661			153			378			30,489
Total ending allowance balance		$	17,243		$	12,123		$	1,593		$	2,661		$	206		$	1,581		$	35,407
Loans:
Individually evaluated for impairment		$	10,345		$	4,192		$	—		$	—		$	999		$	2,197		$	17,733
Collectively evaluated for impairment			1,877,160			587,308			112,290			433,239			70,355			44,234			3,124,586
Total ending loan balance		$	1,887,505		$	591,500		$	112,290		$	433,239		$	71,354		$	46,431		$	3,142,319

Schedule of loans determined to be impaired by class of loans


		Unpaid Principal						Allowance for Loan
At September 30, 2021		Balance			Recorded Investment			Losses Allocated
With an allowance recorded:
One-to-four family		$	584		$	454		$	33
Consumer			2,125			2,125			1,430
Commercial & industrial			3,145			3,145			2,814
Total		$	5,854		$	5,724		$	4,277

Without an allowance recorded:
One-to-four family		$	651		$	504		$	—
Commercial real estate			10,333			10,333			—
Commercial & industrial			—			—			—
Total		$	10,984		$	10,837		$	—


		Unpaid Principal						Allowance for Loan
At December 31, 2020		Balance			Recorded Investment			Losses Allocated
With an allowance recorded:
One-to-four family		$	610		$	480		$	53
Consumer			2,197			2,197			1,203
Commercial & industrial			4,192			4,192			3,662
Total		$	6,999		$	6,869		$	4,918

Without an allowance recorded:
One-to-four family		$	666		$	519		$	—
Commercial real estate			10,345			10,345			—
Commercial & industrial			—			—			—
Total		$	11,011		$	10,864		$	—

Schedule of average recorded investment and interest income of loans


		Average Recorded			Interest Income
Three months ended September 30, 2021		Investment			Recognized
With an allowance recorded:
One-to-four family		$	458		$	4
Consumer			2,103			26
Commercial & industrial			3,145			—
Total		$	5,706		$	30

Without an allowance recorded:
One-to-four family		$	506		$	7
Commercial real estate			10,335			2
Commercial & industrial			96			—
Total		$	10,937		$	9


		Average Recorded			Interest Income
Three months ended September 30, 2020		Investment			Recognized
With an allowance recorded:
One-to-four family		$	488		$	5
Consumer			2,112			27
Commercial & industrial			5,497			—
Total		$	8,097		$	32

Without an allowance recorded:
One-to-four family		$	524		$	3
Commercial real estate			363			-
Total		$	887		$	3


		Average Recorded			Interest Income
Nine months ended September 30, 2021		Investment			Recognized
With an allowance recorded:
One-to-four family		$	466		$	16
Consumer			2,132			84
Commercial & industrial			3,407			-
Total		$	6,005		$	100

Without an allowance recorded:
One-to-four family		$	511		$	20
Commercial real estate			10,339			207
Commercial & industrial			96			-
Total		$	10,946		$	227


		Average Recorded			Interest Income
Nine months ended September 30, 2020		Investment			Recognized
With an allowance recorded:
One-to-four family		$	494		$	13
Consumer			1,330			58
Commercial & industrial			3,272			—
Total		$	5,096		$	71

Without an allowance recorded:
One-to-four family		$	1,115		$	13
Commercial real estate			364			4
Commercial and industrial			1,188			—
Total		$	2,667		$	17

Schedule of recorded investment in non-accrual loans, loans past due over 90 days and still accruing by class of loans


At September 30, 2021		Non-accrual			Loans Past Due Over 90 Days Still Accruing
Commercial real estate		$	9,984		$	—
Commercial & industrial			3,145			—
Consumer			1,674			573
Total		$	14,803		$	573


At December 31, 2020		Non-accrual				Loans Past Due Over 90 Days Still Accruing
Commercial & industrial		$	4,192		$	—
Consumer			1,428			769
Total		$	5,620		$	769

Schedule of aging of the recorded investment in past due loans by class of loans


								90
		30-59			60-89			Days and			Total past			Current
At September 30, 2021		Days			Days			Greater			due			loans			Total
Commercial real estate		$	—		$	—		$	9,984		$	9,984		$	2,368,090		$	2,378,074
Commercial & industrial			92			—			3,145			3,237			608,066			611,303
Construction			—			—			—			—			150,144			150,144
Multifamily			—			—			—			—			374,555			374,555
One-to-four family			—			—			—			—			61,266			61,266
Consumer			43			—			2,247			2,290			32,777			35,067
Total		$	135		$	—		$	15,376		$	15,511		$	3,594,898		$	3,610,409


								90
		30-59			60-89			Days and			Total past			Current
At December 31, 2020		Days			Days			Greater			due			loans			Total
Commercial real estate		$	40		$	9,984		$	—		$	10,024		$	1,877,481		$	1,887,505
Commercial & industrial			4,429			6,400			4,192			15,021			576,479			591,500
Construction			—			—			—			—			112,290			112,290
Multifamily			—			—			—			—			433,239			433,239
One-to-four family			2,908			—			—			2,908			68,446			71,354
Consumer			112			32			2,197			2,341			44,090			46,431
Total		$	7,489		$	16,416		$	6,389		$	30,294		$	3,112,025		$	3,142,319

Schedule of recorded investment in TDRs by class of loans


		September 30, 2021			December 31, 2020
Troubled debt restructurings:
Real Estate:
Commercial real estate		$	349		$	361
One-to-four family			958			999
Total troubled debt restructurings		$	1,307		$	1,360

Schedule of risk category of loans by class of loans


					Special
At September 30, 2021		Pass			Mention			Substandard			Doubtful				Total
Commercial real estate		$	2,367,741		$	349		$	9,984		$	—		$	2,378,074
Commercial & industrial			603,963			4,195			—			3,145			611,303
Construction			150,144			—			—			—			150,144
Multifamily			374,555			—			—			—			374,555
Total		$	3,496,403		$	4,544		$	9,984		$	3,145		$	3,514,076


					Special
At December 31, 2020		Pass			Mention			Substandard			Doubtful				Total
Commercial real estate		$	1,877,160		$	361		$	9,984		$	—		$	1,887,505
Commercial & industrial			583,809			3,499			—			4,192			591,500
Construction			112,290			—			—			—			112,290
Multi-family			433,239			—			—			—			433,239
Total		$	3,006,498		$	3,860		$	9,984		$	4,192		$	3,024,534