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LOANS AND ALLOWANCE FOR CREDIT LOSSES (Tables) | 6 Months Ended
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Jun. 30, 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 June 30, | ​ | December 31,
​ |  | 2023 | ​ | 2022
Real estate | ​ | ​ | ​ | ​ | ​ | ​
Commercial | ​ | $ | 3,546,818 | ​ | $ | 3,254,508
Construction | ​ | ​ | 131,370 | ​ | ​ | 143,693
Multi-family | ​ | ​ | 460,285 | ​ | ​ | 468,540
One-to four-family | ​ | ​ | 51,824 | ​ | ​ | 53,207
Total real estate loans | ​ | ​ | 4,190,297 | ​ | ​ | 3,919,948
Commercial and industrial | ​ | ​ | 954,700 | ​ | ​ | 908,616
Consumer | ​ | ​ | 20,092 | ​ | ​ | 24,931
Total loans | ​ | ​ | 5,165,089 | ​ | ​ | 4,853,495
Deferred fees, net of origination costs | ​ | ​ | (15,543) | ​ | ​ | (12,972)
Loans, net of deferred fees and costs | ​ | ​ | 5,149,546 | ​ | ​ | 4,840,523
Allowance for credit losses | ​ | ​ | (51,650) | ​ | ​ | (44,876)
Net loans | ​ | $ | 5,097,896 | ​ | $ | 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 June 30, 2023 |  | Real Estate |  | & Industrial |  | Construction |  | Family |  | Family |  | Consumer |  | Total
Allowance for credit losses: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Beginning balance | ​ | $ | 31,836 | ​ | $ | 10,757 | ​ | $ | 1,261 | ​ | $ | 2,871 | ​ | $ | 407 | ​ | $ | 620 | ​ | $ | 47,752
Provision/(credit) for credit losses | ​ | ​ | 2,785 | ​ | ​ | 220 | ​ | ​ | 339 | ​ | ​ | 672 | ​ | ​ | (45) | ​ | ​ | (29) | ​ | ​ | 3,942
Loans charged-off | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (44) | ​ | ​ | (44)
Recoveries | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Total ending allowance balance | ​ | $ | 34,621 | ​ | $ | 10,977 | ​ | $ | 1,600 | ​ | $ | 3,543 | ​ | $ | 362 | ​ | $ | 547 | ​ | $ | 51,650
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Commercial | ​ | Commercial | ​ | ​ | ​ | ​ | Multi | ​ | One-to four- | ​ | ​ | ​ | ​ | ​ | ​
Three months ended June 30, 2022 |  | Real Estate |  | & Industrial |  | Construction |  | Family |  | Family |  | Consumer |  | Total
Allowance for credit losses: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Beginning balance | ​ | $ | 24,720 | ​ | $ | 8,488 | ​ | $ | 2,329 | ​ | $ | 2,256 | ​ | $ | 104 | ​ | $ | 237 | ​ | $ | 38,134
Provision/(credit) for credit losses | ​ | ​ | 1,225 | ​ | ​ | 656 | ​ | ​ | 258 | ​ | ​ | 283 | ​ | ​ | (2) | ​ | ​ | (20) | ​ | ​ | 2,400
Loans charged-off | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Recoveries | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Total ending allowance balance | ​ | $ | 25,945 | ​ | $ | 9,144 | ​ | $ | 2,587 | ​ | $ | 2,539 | ​ | $ | 102 | ​ | $ | 217 | ​ | $ | 40,534
​ ​ ​ ​ ​ ​ ​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Commercial | ​ | Commercial | ​ | ​ | ​ | ​ | ​ | ​ | ​ | One-to four- | ​ | ​ | ​ | ​ | ​ | ​
Six months ended June 30, 2023 |  | Real Estate |  | & Industrial |  | Construction |  | Multi-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 | ​ | ​ | 5,077 | ​ | ​ | 232 | ​ | ​ | (807) | ​ | ​ | 15 | ​ | ​ | 76 | ​ | ​ | 74 | ​ | ​ | 4,667
Loans charged-off | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (143) | ​ | ​ | (143)
Recoveries | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Total ending allowance balance | ​ | $ | 34,621 | ​ | $ | 10,977 | ​ | $ | 1,600 | ​ | $ | 3,543 | ​ | $ | 362 | ​ | $ | 547 | ​ | $ | 51,650
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Commercial | ​ | Commercial | ​ | ​ | ​ | ​ | ​ | ​ | ​ | One-to four- | ​ | ​ | ​ | ​ | ​ | ​
Six months ended June 30, 2022 |  | Real Estate |  | & Industrial |  | Construction |  | Multi-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 | ​ | ​ | 3,729 | ​ | ​ | 1,436 | ​ | ​ | 482 | ​ | ​ | 383 | ​ | ​ | (38) | ​ | ​ | (192) | ​ | ​ | 5,800
Loans charged-off | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Recoveries | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 5 | ​ | ​ | 5
Total ending allowance balance | ​ | $ | 25,945 | ​ | $ | 9,144 | ​ | $ | 2,587 | ​ | $ | 2,539 | ​ | $ | 102 | ​ | $ | 217 | ​ | $ | 40,534
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 June 30, 2023 |  | Real Estate |  | & Industrial |  | Construction |  | Multi-family |  | Family |  | Consumer |  | Total
Allowance for credit losses: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Individually assessed | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | 24 | ​ | $ | 24
Collectively assessed | ​ | ​ | 34,621 | ​ | ​ | 10,977 | ​ | ​ | 1,600 | ​ | ​ | 3,543 | ​ | ​ | 362 | ​ | ​ | 523 | ​ | ​ | 51,626
Total ending allowance balance | ​ | $ | 34,621 | ​ | $ | 10,977 | ​ | $ | 1,600 | ​ | $ | 3,543 | ​ | $ | 362 | ​ | $ | 547 | ​ | $ | 51,650
Loans: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Individually assessed | ​ | $ | 40,729 | ​ | $ | 3,499 | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | 24 | ​ | $ | 44,252
Collectively assessed | ​ | ​ | 3,506,089 | ​ | ​ | 951,201 | ​ | ​ | 131,370 | ​ | ​ | 460,285 | ​ | ​ | 51,824 | ​ | ​ | 20,068 | ​ | ​ | 5,120,837
Total ending loan balance | ​ | $ | 3,546,818 | ​ | $ | 954,700 | ​ | $ | 131,370 | ​ | $ | 460,285 | ​ | $ | 51,824 | ​ | $ | 20,092 | ​ | $ | 5,165,089
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 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 June 30, 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
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 June 30, 2023 |  | Days |  | Days |  | greater |  | due |  | loans |  | Total
Commercial real estate | ​ | $ | — | ​ | $ | — | ​ | $ | 24,000 | ​ | $ | 24,000 | ​ | $ | 3,522,818 | ​ | $ | 3,546,818
Commercial & industrial | ​ | ​ | 7,660 | ​ | ​ | 32 | ​ | ​ | — | ​ | ​ | 7,692 | ​ | ​ | 947,008 | ​ | ​ | 954,700
Construction | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 131,370 | ​ | ​ | 131,370
Multi-family | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 460,285 | ​ | ​ | 460,285
One-to four-family | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 51,824 | ​ | ​ | 51,824
Consumer | ​ | ​ | 12 | ​ | ​ | 23 | ​ | ​ | 24 | ​ | ​ | 59 | ​ | ​ | 20,033 | ​ | ​ | 20,092
Total | ​ | $ | 7,672 | ​ | $ | 55 | ​ | $ | 24,024 | ​ | $ | 31,751 | ​ | $ | 5,133,338 | ​ | $ | 5,165,089
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | 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 June 30, 2023 (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2023 |  | 2022 |  | 2021 |  | 2020 |  | 2019 |  | 2018 & Prior |  | Revolving | ​ | Total
CRE | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Pass | ​ | $ | 888,074 | ​ | $ | 1,405,948 | ​ | $ | 587,204 | ​ | $ | 163,773 | ​ | $ | 225,153 | ​ | $ | 130,995 | ​ | $ | 41,272 | ​ | $ | 3,442,419
Special Mention | ​ | ​ | 48,641 | ​ | ​ | — | ​ | ​ | 14,714 | ​ | ​ | 315 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 63,670
Substandard | ​ | ​ | — | ​ | ​ | 24,000 | ​ | ​ | — | ​ | ​ | 16,729 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 40,729
Total | ​ | $ | 936,715 | ​ | $ | 1,429,948 | ​ | $ | 601,918 | ​ | $ | 180,817 | ​ | $ | 225,153 | ​ | $ | 130,995 | ​ | $ | 41,272 | ​ | $ | 3,546,818
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Construction | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Pass | ​ | $ | 19,781 | ​ | $ | 65,409 | ​ | $ | 37,160 | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | 9,021 | ​ | $ | 131,371
Total | ​ | $ | 19,781 | ​ | $ | 65,409 | ​ | $ | 37,160 | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | 9,021 | ​ | $ | 131,371
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Multi-family | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Pass | ​ | $ | 45,134 | ​ | $ | 183,628 | ​ | $ | 73,292 | ​ | $ | 23,883 | ​ | $ | 38,006 | ​ | $ | 89,819 | ​ | $ | 6,523 | ​ | $ | 460,285
Total | ​ | $ | 45,134 | ​ | $ | 183,628 | ​ | $ | 73,292 | ​ | $ | 23,883 | ​ | $ | 38,006 | ​ | $ | 89,819 | ​ | $ | 6,523 | ​ | $ | 460,285
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
One-to four-family | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current | ​ | $ | — | ​ | $ | 4,163 | ​ | $ | — | ​ | $ | 12,117 | ​ | $ | 12,384 | ​ | $ | 23,160 | ​ | $ | — | ​ | $ | 51,824
Total | ​ | $ | — | ​ | $ | 4,163 | ​ | $ | — | ​ | $ | 12,117 | ​ | $ | 12,384 | ​ | $ | 23,160 | ​ | $ | — | ​ | $ | 51,824
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Commercial and industrial | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Pass | ​ | $ | 131,656 | ​ | $ | 282,851 | ​ | $ | 116,901 | ​ | $ | 28,499 | ​ | $ | 16,869 | ​ | $ | 10,653 | ​ | $ | 305,004 | ​ | $ | 892,433
Special Mention | ​ | ​ | — | ​ | ​ | 34,418 | ​ | ​ | — | ​ | ​ | 2,447 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 21,903 | ​ | ​ | 58,768
Substandard | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 3,499 | ​ | ​ | 3,499
Total | ​ | $ | 131,656 | ​ | $ | 317,269 | ​ | $ | 116,901 | ​ | $ | 30,946 | ​ | $ | 16,869 | ​ | $ | 10,653 | ​ | $ | 330,406 | ​ | $ | 954,700
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Consumer | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | 20,033 | ​ | $ | — | ​ | $ | 20,033
Past due | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 59 | ​ | ​ | — | ​ | ​ | 59
Total | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | 20,092 | ​ | $ | — | ​ | $ | 20,092
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 June 30, 2022 |  | Investment | ​ | Recognized
With an allowance recorded: | ​ | ​ | ​ | ​ | ​ | ​
Consumer | ​ | ​ | 24 | ​ | ​ | —
Total | ​ | $ | 24 | ​ | $ | —
​ | ​ | ​ | ​ | ​ | ​ | ​
Without an allowance recorded: | ​ | ​ | ​ | ​ | ​ | ​
One-to four-family | ​ | $ | 927 | ​ | $ | 9
CRE | ​ | ​ | 28,514 | ​ | ​ | 266
Total | ​ | $ | 29,441 | ​ | $ | 275
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Average | ​ | Interest
​ | ​ | Recorded | ​ | Income
Six months ended June 30, 2022 |  | Investment | ​ | Recognized
With an allowance recorded: | ​ | ​ | ​ | ​ | ​ | ​
Consumer | ​ | ​ | 117 | ​ | ​ | —
Total | ​ | $ | 117 | ​ | $ | —
​ | ​ | ​ | ​ | ​ | ​ | ​
Without an allowance recorded: | ​ | ​ | ​ | ​ | ​ | ​
One-to four-family | ​ | $ | 784 | ​ | $ | 18
CRE | ​ | ​ | 31,849 | ​ | ​ | 496
Total | ​ | $ | 32,633 | ​ | $ | 514
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 June 30, | ​ | Six months ended June 30,
​ |  | 2023 |  | 2022 |  | 2023 |  | 2022 |
Balance at the beginning of period | ​ | $ | 877 | ​ | $ | 180 | ​ | $ | 180 | ​ | $ | 180 | ​
Cumulative effect of changes in accounting principle | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 777 | ​ | ​ | — | ​
Provision/(credit) for credit losses | ​ | ​ | 363 | ​ | ​ | — | ​ | ​ | 283 | ​ | ​ | — | ​
Total ending allowance balance | ​ | $ | 1,240 | ​ | $ | 180 | ​ | $ | 1,240 | ​ | $ | 180 | ​

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