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LOANS AND ALLOWANCE FOR CREDIT LOSSES (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2023
Loans and Leases Receivable Disclosure [Line Items] |
Schedule of Net loans | Loans, net of deferred costs and fees, consist of the following (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | At March 31, | ​ | December 31,
​ |  | 2023 | ​ | 2022
Real estate | ​ | ​ | ​ | ​ | ​ | ​
Commercial | ​ | $ | 3,279,321 | ​ | $ | 3,254,508
Construction | ​ | ​ | 123,292 | ​ | ​ | 143,693
Multi-family | ​ | ​ | 444,052 | ​ | ​ | 468,540
One-to four-family | ​ | ​ | 52,428 | ​ | ​ | 53,207
Total real estate loans | ​ | ​ | 3,899,093 | ​ | ​ | 3,919,948
Commercial and industrial | ​ | ​ | 935,541 | ​ | ​ | 908,616
Consumer | ​ | ​ | 30,394 | ​ | ​ | 24,931
Total loans | ​ | ​ | 4,865,028 | ​ | ​ | 4,853,495
Deferred fees, net of origination costs | ​ | ​ | (13,334) | ​ | ​ | (12,972)
Loans, net of deferred fees and costs | ​ | ​ | 4,851,694 | ​ | ​ | 4,840,523
Allowance for credit losses | ​ | ​ | (47,752) | ​ | ​ | (44,876)
Net loans | ​ | $ | 4,803,942 | ​ | $ | 4,795,647
​
Schedule of changes in the allowance for loan losses by portfolio segment | The following tables present the activity in the ACL for funded loans by segment. The portfolio segments represent the categories that the Company uses to determine its ACL (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Commercial | ​ | Commercial | ​ | ​ | ​ | ​ | Multi | ​ | One-to four- | ​ | ​ | ​ | ​ | ​ | ​
Three months ended March 31, 2023 |  | Real Estate |  | & Industrial |  | Construction |  | Family |  | Family |  | Consumer |  | Total
Allowance for credit losses: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Beginning balance | ​ | $ | 29,496 | ​ | $ | 10,274 | ​ | $ | 1,983 | ​ | $ | 2,823 | ​ | $ | 105 | ​ | $ | 195 | ​ | $ | 44,876
Cumulative effect of changes in accounting principle | ​ | ​ | 48 | ​ | ​ | 471 | ​ | ​ | 424 | ​ | ​ | 705 | ​ | ​ | 181 | ​ | ​ | 421 | ​ | ​ | 2,250
Provision/(credit) for credit losses | ​ | ​ | 2,292 | ​ | ​ | 12 | ​ | ​ | (1,146) | ​ | ​ | (657) | ​ | ​ | 121 | ​ | ​ | 104 | ​ | ​ | 726
Loans charged-off | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (100) | ​ | ​ | (100)
Recoveries | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Total ending allowance balance | ​ | $ | 31,836 | ​ | $ | 10,757 | ​ | $ | 1,261 | ​ | $ | 2,871 | ​ | $ | 407 | ​ | $ | 620 | ​ | $ | 47,752
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Commercial | ​ | Commercial | ​ | ​ | ​ | ​ | Multi | ​ | One-to four- | ​ | ​ | ​ | ​ | ​ | ​
Three months ended March 31, 2022 |  | Real Estate |  | & Industrial |  | Construction |  | Family |  | Family |  | Consumer |  | Total
Allowance for credit losses: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Beginning balance | ​ | $ | 22,216 | ​ | $ | 7,708 | ​ | $ | 2,105 | ​ | $ | 2,156 | ​ | $ | 140 | ​ | $ | 404 | ​ | $ | 34,729
Provision/(credit) for credit losses | ​ | ​ | 2,504 | ​ | ​ | 780 | ​ | ​ | 224 | ​ | ​ | 100 | ​ | ​ | (36) | ​ | ​ | (172) | ​ | ​ | 3,400
Loans charged-off | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Recoveries | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 5 | ​ | ​ | 5
Total ending allowance balance | ​ | $ | 24,720 | ​ | $ | 8,488 | ​ | $ | 2,329 | ​ | $ | 2,256 | ​ | $ | 104 | ​ | $ | 237 | ​ | $ | 38,134
​
Schedule of allowance for loan losses and the recorded investment in loans by portfolio segment | The following tables present the balance in the ACL and the recorded investment in loans by portfolio segment based on allowance measurement methodology (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Commercial | ​ | Commercial | ​ | ​ | ​ | ​ | ​ | ​ | One-to four- | ​ | ​ | ​ | ​ | ​ | ​
At March 31, 2023 |  | Real Estate |  | & Industrial |  | Construction |  | Multi-family |  | Family |  | Consumer |  | Total
Allowance for credit losses: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Individually assessed | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | 24 | ​ | $ | 24
Collectively assessed | ​ | ​ | 31,836 | ​ | ​ | 10,757 | ​ | ​ | 1,261 | ​ | ​ | 2,871 | ​ | ​ | 407 | ​ | ​ | 596 | ​ | ​ | 47,728
Total ending allowance balance | ​ | $ | 31,836 | ​ | $ | 10,757 | ​ | $ | 1,261 | ​ | $ | 2,871 | ​ | $ | 407 | ​ | $ | 620 | ​ | $ | 47,752
Loans: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Individually assessed | ​ | $ | 40,769 | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | 24 | ​ | $ | 40,793
Collectively assessed | ​ | ​ | 3,238,552 | ​ | ​ | 935,541 | ​ | ​ | 123,292 | ​ | ​ | 444,052 | ​ | ​ | 52,428 | ​ | ​ | 30,370 | ​ | ​ | 4,824,235
Total ending loan balance | ​ | $ | 3,279,321 | ​ | $ | 935,541 | ​ | $ | 123,292 | ​ | $ | 444,052 | ​ | $ | 52,428 | ​ | $ | 30,394 | ​ | $ | 4,865,028
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Commercial | ​ | Commercial | ​ | ​ | ​ | ​ | ​ | ​ | One-to four- | ​ | ​ | ​ | ​ | ​ | ​
At December 31, 2022 |  | Real Estate |  | & Industrial |  | Construction |  | Multi-family |  | Family |  | Consumer |  | Total
Allowance for credit losses: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Individually assessed | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | 24 | ​ | $ | 24
Collectively assessed | ​ | ​ | 29,496 | ​ | ​ | 10,274 | ​ | ​ | 1,983 | ​ | ​ | 2,823 | ​ | ​ | 105 | ​ | ​ | 171 | ​ | ​ | 44,852
Total ending allowance balance | ​ | $ | 29,496 | ​ | $ | 10,274 | ​ | $ | 1,983 | ​ | $ | 2,823 | ​ | $ | 105 | ​ | $ | 195 | ​ | $ | 44,876
Loans: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Individually assessed | ​ | $ | 26,740 | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | 899 | ​ | $ | 24 | ​ | $ | 27,663
Collectively assessed | ​ | ​ | 3,227,768 | ​ | ​ | 908,616 | ​ | ​ | 143,693 | ​ | ​ | 468,540 | ​ | ​ | 52,308 | ​ | ​ | 24,907 | ​ | ​ | 4,825,832
Total ending loan balance | ​ | $ | 3,254,508 | ​ | $ | 908,616 | ​ | $ | 143,693 | ​ | $ | 468,540 | ​ | $ | 53,207 | ​ | $ | 24,931 | ​ | $ | 4,853,495
​
Schedule of recorded investment in non-accrual loans, loans past due over 90 days and still accruing by class of loans | ​ The following tables present the recorded investment in non-accrual loans and loans past due over 90 days and still accruing, by class of loans (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Nonaccrual | ​ | Loans Past Due
​ | ​ | ​ | ​ | Without an | ​ | Over 90 Days
At March 31, 2023 |  | Nonaccrual | ​ | ACL | ​ | Still Accruing
Commercial real estate | ​ | $ | 24,000 | ​ | $ | 24,000 | ​ | $ | —
Consumer | ​ | ​ | 24 | ​ | ​ | — | ​ | ​ | —
Total | ​ | $ | 24,024 | ​ | $ | 24,000 | ​ | $ | —
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Nonaccrual | ​ | Loans Past Due
​ | ​ | ​ | ​ | ​ | Without an | ​ | Over 90 Days
At December 31, 2022 | ​ | ​ | Nonaccrual | ​ | ACL | ​ | Still Accruing
Commercial real estate | ​ | $ | — | ​ | $ | — | ​ | $ | —
Consumer | ​ | ​ | 24 | ​ | ​ | — | ​ | ​ | —
Total | ​ | $ | 24 | ​ | $ | — | ​ | $ | —
​
Schedule of aging of the recorded investment in past due loans by class of loans | The following tables present the aging of the recorded investment in past due loans by class of loans (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | 90 | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 30-59 | ​ | 60-89 | ​ | Days and | ​ | Total past | ​ | Current | ​ | ​
At March 31, 2023 |  | Days |  | Days |  | greater |  | due |  | loans |  | Total
Commercial real estate | ​ | $ | — | ​ | $ | — | ​ | $ | 24,000 | ​ | $ | 24,000 | ​ | $ | 3,255,321 | ​ | $ | 3,279,321
Commercial & industrial | ​ | ​ | 35 | ​ | ​ | 32 | ​ | ​ | — | ​ | ​ | 67 | ​ | ​ | 935,474 | ​ | ​ | 935,541
Construction | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 123,292 | ​ | ​ | 123,292
Multi-family | ​ | ​ | 9,675 | ​ | ​ | 17,625 | ​ | ​ | — | ​ | ​ | 27,300 | ​ | ​ | 416,752 | ​ | ​ | 444,052
One-to four-family | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 52,428 | ​ | ​ | 52,428
Consumer | ​ | ​ | 14 | ​ | ​ | — | ​ | ​ | 24 | ​ | ​ | 38 | ​ | ​ | 30,356 | ​ | ​ | 30,394
Total | ​ | $ | 9,724 | ​ | $ | 17,657 | ​ | $ | 24,024 | ​ | $ | 51,405 | ​ | $ | 4,813,623 | ​ | $ | 4,865,028
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | 90 | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 30-59 | ​ | 60-89 | ​ | Days and | ​ | Total past | ​ | Current | ​ | ​
At December 31, 2022 |  | Days |  | Days |  | greater |  | due |  | loans |  | Total
Commercial real estate | ​ | $ | — | ​ | $ | 24,000 | ​ | $ | — | ​ | $ | 24,000 | ​ | $ | 3,230,508 | ​ | $ | 3,254,508
Commercial & industrial | ​ | ​ | 37 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 37 | ​ | ​ | 908,579 | ​ | ​ | 908,616
Construction | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 143,693 | ​ | ​ | 143,693
Multi-family | ​ | ​ | 8,000 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 8,000 | ​ | ​ | 460,540 | ​ | ​ | 468,540
One-to four-family | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 53,207 | ​ | ​ | 53,207
Consumer | ​ | ​ | 21 | ​ | ​ | — | ​ | ​ | 24 | ​ | ​ | 45 | ​ | ​ | 24,886 | ​ | ​ | 24,931
Total | ​ | $ | 8,058 | ​ | $ | 24,000 | ​ | $ | 24 | ​ | $ | 32,082 | ​ | $ | 4,821,413 | ​ | $ | 4,853,495
​
Schedule of risk category of loans by class of loans | The following table presents loan balances by credit quality indicator and year of origination at March 31, 2023 (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2023 |  | 2022 |  | 2021 |  | 2020 |  | 2019 |  | 2018 & Prior |  | Revolving | ​ | Total
CRE | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Pass | ​ | $ | 445,656 | ​ | $ | 1,528,343 | ​ | $ | 596,881 | ​ | $ | 185,291 | ​ | $ | 226,188 | ​ | $ | 154,132 | ​ | $ | 42,936 | ​ | $ | 3,179,427
Special Mention | ​ | ​ | 8,548 | ​ | ​ | 35,556 | ​ | ​ | 14,701 | ​ | ​ | 320 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 59,125
Substandard | ​ | ​ | — | ​ | ​ | 24,000 | ​ | ​ | — | ​ | ​ | 16,769 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 40,769
Total | ​ | $ | 454,204 | ​ | $ | 1,587,899 | ​ | $ | 611,582 | ​ | $ | 202,380 | ​ | $ | 226,188 | ​ | $ | 154,132 | ​ | $ | 42,936 | ​ | $ | 3,279,321
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Construction | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Pass | ​ | $ | 18,720 | ​ | $ | 70,550 | ​ | $ | 34,022 | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | 123,292
Total | ​ | $ | 18,720 | ​ | $ | 70,550 | ​ | $ | 34,022 | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | 123,292
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Multi-family | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Pass | ​ | $ | 5,534 | ​ | $ | 188,701 | ​ | $ | 73,566 | ​ | $ | 33,028 | ​ | $ | 38,181 | ​ | $ | 100,392 | ​ | $ | 4,650 | ​ | $ | 444,052
Total | ​ | $ | 5,534 | ​ | $ | 188,701 | ​ | $ | 73,566 | ​ | $ | 33,028 | ​ | $ | 38,181 | ​ | $ | 100,392 | ​ | $ | 4,650 | ​ | $ | 444,052
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
One-to four-family | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current | ​ | $ | — | ​ | $ | 4,249 | ​ | $ | — | ​ | $ | 10,432 | ​ | $ | 12,484 | ​ | $ | 25,262 | ​ | $ | — | ​ | $ | 52,428
Total | ​ | $ | — | ​ | $ | 4,249 | ​ | $ | — | ​ | $ | 10,432 | ​ | $ | 12,484 | ​ | $ | 25,262 | ​ | $ | — | ​ | $ | 52,428
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Commercial and industrial | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Pass | ​ | $ | 61,040 | ​ | $ | 358,209 | ​ | $ | 126,347 | ​ | $ | 32,843 | ​ | $ | 17,929 | ​ | $ | 12,998 | ​ | $ | 293,176 | ​ | $ | 902,542
Special Mention | ​ | ​ | — | ​ | ​ | 14,000 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 18,999 | ​ | ​ | 32,999
Total | ​ | $ | 61,040 | ​ | $ | 372,209 | ​ | $ | 126,347 | ​ | $ | 32,843 | ​ | $ | 17,929 | ​ | $ | 12,998 | ​ | $ | 312,175 | ​ | $ | 935,541
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Consumer | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current | ​ | $ | 7,468 | ​ | $ | — | ​ | $ | 780 | ​ | $ | — | ​ | $ | — | ​ | $ | 22,108 | ​ | $ | — | ​ | $ | 30,356
Past due | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 38 | ​ | ​ | — | ​ | ​ | 38
Total | ​ | $ | 7,468 | ​ | $ | — | ​ | $ | 780 | ​ | $ | — | ​ | $ | — | ​ | $ | 22,146 | ​ | $ | — | ​ | $ | 30,394
​ For loans evaluated by credit risk ratings, the following table presents loan balances by credit quality indicator and by class of loans at December 31, 2022 (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Special | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Pass |  | Mention |  | Substandard |  | Doubtful | ​ | ​ | Total
Commercial real estate | ​ | $ | 3,192,212 | ​ | $ | 35,881 | ​ | $ | 26,415 | ​ | $ | — | ​ | $ | 3,254,508
Commercial & industrial | ​ | ​ | 876,867 | ​ | ​ | 31,749 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 908,616
Construction | ​ | ​ | 143,693 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 143,693
Multi-family | ​ | ​ | 468,540 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 468,540
Total | ​ | $ | 4,681,312 | ​ | $ | 67,630 | ​ | $ | 26,415 | ​ | $ | — | ​ | $ | 4,775,357
​
Schedule of loans determined to be impaired by class of loans | The following tables present loans individually evaluated for impairment pursuant to the disclosure requirements prior to the adoption of ASU No. 2016-13 on January 1, 2023 (in thousands). The recorded investment in loans excludes accrued interest receivable and loan origination fees.
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | At December 31, 2022 | ​
​ | ​ | ​ | ​ | ​ | ​ | Allowance | ​
​ | ​ | Unpaid | ​ | ​ | ​ | for Loan | ​
​ | ​ | Principal | ​ | Recorded | ​ | Losses | ​
​ |  | Balance |  | Investment |  | Allocated | ​
With an allowance recorded: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Consumer | ​ | ​ | 24 | ​ | ​ | 24 | ​ | ​ | 24 | ​
Total | ​ | $ | 24 | ​ | $ | 24 | ​ | $ | 24 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Without an allowance recorded: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
One-to four-family | ​ | $ | 1,176 | ​ | $ | 899 | ​ | $ | — | ​
CRE | ​ | ​ | 27,984 | ​ | ​ | 26,740 | ​ | ​ | — | ​
Total | ​ | $ | 29,160 | ​ | $ | 27,639 | ​ | $ | — | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Average | ​ | Interest
​ | ​ | Recorded | ​ | Income
Three months ended March 31, 2022 |  | Investment | ​ | Recognized
With an allowance recorded: | ​ | ​ | ​ | ​ | ​ | ​
One-to four-family | ​ | $ | 224 | ​ | $ | 3
Consumer | ​ | ​ | 163 | ​ | ​ | —
Total | ​ | $ | 387 | ​ | $ | 3
​ | ​ | ​ | ​ | ​ | ​ | ​
Without an allowance recorded: | ​ | ​ | ​ | ​ | ​ | ​
One-to four-family | ​ | $ | 716 | ​ | $ | 6
Consumer | ​ | ​ | 33,498 | ​ | ​ | 230
Total | ​ | $ | 34,214 | ​ | $ | 236
Unfunded loan commitment |
Loans and Leases Receivable Disclosure [Line Items] |
Schedule of allowance for loan losses and the recorded investment in loans by portfolio segment | The following tables present the activity in the ACL for unfunded loan commitments (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three months ended March 31, | ​
​ |  | 2023 |  | 2022 |
Balance at the beginning of period | ​ | $ | 180 | ​ | $ | 180 | ​
Cumulative effect of changes in accounting principle | ​ | ​ | 777 | ​ | ​ | — | ​
Provision/(credit) for credit losses | ​ | ​ | (80) | ​ | ​ | — | ​
Total ending allowance balance | ​ | $ | 877 | ​ | $ | 180 | ​
​

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- Definition Tabular disclosure of financing receivables by credit quality indicator. The credit quality indicator is a statistic about the credit quality of financing receivables. Examples include, but not limited to, consumer credit risk scores, credit-rating-agency ratings, an entity's internal credit risk grades, loan-to-value ratios, collateral, collection experience and other internal metrics. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 5 -URI https://asc.fasb.org/extlink&oid=124255953&loc=SL82919230-210447 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 29 -URI https://asc.fasb.org/extlink&oid=123577603&loc=SL6953659-111524 + Details
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