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LOANS AND ALLOWANCE FOR CREDIT LOSSES (Tables) | 9 Months Ended
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Sep. 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 September 30, | ​ | At December 31,
​ |  | 2023 | ​ | 2022
Real estate | ​ | ​ | ​ | ​ | ​ | ​
Commercial | ​ | $ | 3,712,664 | ​ | $ | 3,254,508
Construction | ​ | ​ | 149,212 | ​ | ​ | 143,693
Multi-family | ​ | ​ | 462,999 | ​ | ​ | 468,540
One-to four-family | ​ | ​ | 50,205 | ​ | ​ | 53,207
Total real estate loans | ​ | ​ | 4,375,080 | ​ | ​ | 3,919,948
Commercial and industrial | ​ | ​ | 976,778 | ​ | ​ | 908,616
Consumer | ​ | ​ | 18,361 | ​ | ​ | 24,931
Total loans | ​ | ​ | 5,370,219 | ​ | ​ | 4,853,495
Deferred fees, net of origination costs | ​ | ​ | (15,732) | ​ | ​ | (12,972)
Loans, net of deferred fees and costs | ​ | ​ | 5,354,487 | ​ | ​ | 4,840,523
Allowance for credit losses | ​ | ​ | (52,298) | ​ | ​ | (44,876)
Net loans | ​ | $ | 5,302,189 | ​ | $ | 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 September 30, 2023 |  | Real Estate |  | & Industrial |  | Construction |  | Family |  | Family |  | Consumer |  | Total
Allowance for credit losses: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Beginning balance | ​ | $ | 34,621 | ​ | $ | 10,977 | ​ | $ | 1,600 | ​ | $ | 3,543 | ​ | $ | 362 | ​ | $ | 547 | ​ | $ | 51,650
Provision/(credit) for credit losses | ​ | ​ | 404 | ​ | ​ | 119 | ​ | ​ | 169 | ​ | ​ | (54) | ​ | ​ | (11) | ​ | ​ | 150 | ​ | ​ | 777
Loans charged-off | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (129) | ​ | ​ | (129)
Recoveries | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Total ending allowance balance | ​ | $ | 35,025 | ​ | $ | 11,096 | ​ | $ | 1,769 | ​ | $ | 3,489 | ​ | $ | 351 | ​ | $ | 568 | ​ | $ | 52,298
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Commercial | ​ | Commercial | ​ | ​ | ​ | ​ | Multi | ​ | One-to four- | ​ | ​ | ​ | ​ | ​ | ​
Three months ended September 30, 2022 |  | Real Estate |  | & Industrial |  | Construction |  | Family |  | Family |  | Consumer |  | Total
Allowance for credit losses: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Beginning balance | ​ | $ | 25,945 | ​ | $ | 9,144 | ​ | $ | 2,587 | ​ | $ | 2,539 | ​ | $ | 102 | ​ | $ | 217 | ​ | $ | 40,534
Provision/(credit) for credit losses | ​ | ​ | 1,019 | ​ | ​ | 954 | ​ | ​ | (55) | ​ | ​ | 103 | ​ | ​ | (3) | ​ | ​ | (11) | ​ | ​ | 2,007
Loans charged-off | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Recoveries | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Total ending allowance balance | ​ | $ | 26,964 | ​ | $ | 10,098 | ​ | $ | 2,532 | ​ | $ | 2,642 | ​ | $ | 99 | ​ | $ | 206 | ​ | $ | 42,541
​ ​ ​ ​ ​ ​ ​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Commercial | ​ | Commercial | ​ | ​ | ​ | ​ | ​ | ​ | ​ | One-to four- | ​ | ​ | ​ | ​ | ​ | ​
Nine months ended September 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 | ​ | ​ | 5,481 | ​ | ​ | 351 | ​ | ​ | (638) | ​ | ​ | (39) | ​ | ​ | 65 | ​ | ​ | 225 | ​ | ​ | 5,445
Loans charged-off | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (273) | ​ | ​ | (273)
Recoveries | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Total ending allowance balance | ​ | $ | 35,025 | ​ | $ | 11,096 | ​ | $ | 1,769 | ​ | $ | 3,489 | ​ | $ | 351 | ​ | $ | 568 | ​ | $ | 52,298
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Commercial | ​ | Commercial | ​ | ​ | ​ | ​ | ​ | ​ | ​ | One-to four- | ​ | ​ | ​ | ​ | ​ | ​
Nine months ended September 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 | ​ | ​ | 4,748 | ​ | ​ | 2,390 | ​ | ​ | 427 | ​ | ​ | 486 | ​ | ​ | (41) | ​ | ​ | (203) | ​ | ​ | 7,807
Loans charged-off | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Recoveries | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 5 | ​ | ​ | 5
Total ending allowance balance | ​ | $ | 26,964 | ​ | $ | 10,098 | ​ | $ | 2,532 | ​ | $ | 2,642 | ​ | $ | 99 | ​ | $ | 206 | ​ | $ | 42,541
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 September 30, 2023 |  | Real Estate |  | & Industrial |  | Construction |  | Multi-family |  | Family |  | Consumer |  | Total
Allowance for credit losses: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Individually assessed | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | 137 | ​ | $ | 137
Collectively assessed | ​ | ​ | 35,025 | ​ | ​ | 11,096 | ​ | ​ | 1,769 | ​ | ​ | 3,489 | ​ | ​ | 351 | ​ | ​ | 431 | ​ | ​ | 52,161
Total ending allowance balance | ​ | $ | 35,025 | ​ | $ | 11,096 | ​ | $ | 1,769 | ​ | $ | 3,489 | ​ | $ | 351 | ​ | $ | 568 | ​ | $ | 52,298
Loans: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Individually assessed | ​ | $ | 41,005 | ​ | $ | 6,934 | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | 251 | ​ | $ | 48,190
Collectively assessed | ​ | ​ | 3,671,659 | ​ | ​ | 969,844 | ​ | ​ | 149,212 | ​ | ​ | 462,999 | ​ | ​ | 50,205 | ​ | ​ | 18,110 | ​ | ​ | 5,322,029
Total ending loan balance | ​ | $ | 3,712,664 | ​ | $ | 976,778 | ​ | $ | 149,212 | ​ | $ | 462,999 | ​ | $ | 50,205 | ​ | $ | 18,361 | ​ | $ | 5,370,219
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 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 September 30, 2023 |  | Nonaccrual | ​ | ACL | ​ | Still Accruing
Commercial real estate | ​ | $ | 24,000 | ​ | $ | 24,000 | ​ | $ | —
Commercial & industrial | ​ | ​ | 6,934 | ​ | ​ | 6,934 | ​ | ​ | —
Consumer | ​ | ​ | 24 | ​ | ​ | — | ​ | ​ | —
Total | ​ | $ | 30,958 | ​ | $ | 30,934 | ​ | $ | —
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | 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 September 30, 2023 |  | Days |  | Days |  | greater |  | due |  | loans |  | Total
Commercial real estate | ​ | $ | — | ​ | $ | — | ​ | $ | 24,000 | ​ | $ | 24,000 | ​ | $ | 3,688,664 | ​ | $ | 3,712,664
Commercial & industrial | ​ | ​ | 31 | ​ | ​ | 23 | ​ | ​ | 6,934 | ​ | ​ | 6,988 | ​ | ​ | 969,790 | ​ | ​ | 976,778
Construction | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 149,212 | ​ | ​ | 149,212
Multi-family | ​ | ​ | 27,285 | ​ | ​ | 11,200 | ​ | ​ | — | ​ | ​ | 38,485 | ​ | ​ | 424,514 | ​ | ​ | 462,999
One-to four-family | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 50,205 | ​ | ​ | 50,205
Consumer | ​ | ​ | — | ​ | ​ | 1 | ​ | ​ | 24 | ​ | ​ | 25 | ​ | ​ | 18,336 | ​ | ​ | 18,361
Total | ​ | $ | 27,316 | ​ | $ | 11,224 | ​ | $ | 30,958 | ​ | $ | 69,498 | ​ | $ | 5,300,721 | ​ | $ | 5,370,219
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | 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 September 30, 2023 (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2023 |  | 2022 |  | 2021 |  | 2020 |  | 2019 |  | 2018 & Prior |  | Revolving | ​ | Total
CRE | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Pass | ​ | $ | 1,172,394 | ​ | $ | 1,348,513 | ​ | $ | 541,243 | ​ | $ | 162,438 | ​ | $ | 223,040 | ​ | $ | 113,821 | ​ | $ | 43,340 | ​ | $ | 3,604,789
Special Mention | ​ | ​ | 13,058 | ​ | ​ | 38,867 | ​ | ​ | 14,637 | ​ | ​ | 308 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 66,870
Substandard | ​ | ​ | — | ​ | ​ | 24,000 | ​ | ​ | — | ​ | ​ | 17,005 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 41,005
Total | ​ | $ | 1,185,452 | ​ | $ | 1,411,380 | ​ | $ | 555,880 | ​ | $ | 179,751 | ​ | $ | 223,040 | ​ | $ | 113,821 | ​ | $ | 43,340 | ​ | $ | 3,712,664
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Construction | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Pass | ​ | $ | 50,639 | ​ | $ | 50,248 | ​ | $ | 39,304 | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | 9,021 | ​ | $ | 149,212
Total | ​ | $ | 50,639 | ​ | $ | 50,248 | ​ | $ | 39,304 | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | 9,021 | ​ | $ | 149,212
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Multi-family | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Pass | ​ | $ | 84,393 | ​ | $ | 131,186 | ​ | $ | 52,048 | ​ | $ | 23,774 | ​ | $ | 37,826 | ​ | $ | 79,087 | ​ | $ | 6,461 | ​ | $ | 414,775
Special Mention | ​ | ​ | — | ​ | ​ | 27,285 | ​ | ​ | 20,939 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 48,224
Total | ​ | $ | 84,393 | ​ | $ | 158,471 | ​ | $ | 72,987 | ​ | $ | 23,774 | ​ | $ | 37,826 | ​ | $ | 79,087 | ​ | $ | 6,461 | ​ | $ | 462,999
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
One-to four-family | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current | ​ | $ | — | ​ | $ | 4,163 | ​ | $ | — | ​ | $ | 10,365 | ​ | $ | 12,384 | ​ | $ | 23,293 | ​ | $ | — | ​ | $ | 50,205
Total | ​ | $ | — | ​ | $ | 4,163 | ​ | $ | — | ​ | $ | 10,365 | ​ | $ | 12,384 | ​ | $ | 23,293 | ​ | $ | — | ​ | $ | 50,205
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Commercial and industrial | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Pass | ​ | $ | 161,702 | ​ | $ | 267,030 | ​ | $ | 97,771 | ​ | $ | 21,190 | ​ | $ | 15,764 | ​ | $ | 8,238 | ​ | $ | 325,877 | ​ | $ | 897,572
Special Mention | ​ | ​ | 3,840 | ​ | ​ | 34,168 | ​ | ​ | — | ​ | ​ | 2,448 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 31,816 | ​ | ​ | 72,272
Substandard | ​ | ​ | 3,435 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 3,499 | ​ | ​ | 6,934
Total | ​ | $ | 168,977 | ​ | $ | 301,198 | ​ | $ | 97,771 | ​ | $ | 23,638 | ​ | $ | 15,764 | ​ | $ | 8,238 | ​ | $ | 361,192 | ​ | $ | 976,778
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Consumer | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | 18,336 | ​ | $ | — | ​ | $ | 18,336
Past due | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 25 | ​ | ​ | — | ​ | ​ | 25
Total | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | 18,361 | ​ | $ | — | ​ | $ | 18,361
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 September 30, 2022 |  | Investment | ​ | Recognized
With an allowance recorded: | ​ | ​ | ​ | ​ | ​ | ​
Consumer | ​ | ​ | 24 | ​ | ​ | —
Total | ​ | $ | 24 | ​ | $ | —
​ | ​ | ​ | ​ | ​ | ​ | ​
Without an allowance recorded: | ​ | ​ | ​ | ​ | ​ | ​
One-to four-family | ​ | $ | 916 | ​ | $ | 9
C&I | ​ | ​ | 28,486 | ​ | ​ | 273
Total | ​ | $ | 29,402 | ​ | $ | 282
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Average | ​ | Interest
​ | ​ | Recorded | ​ | Income
Nine months ended September 30, 2022 |  | Investment | ​ | Recognized
With an allowance recorded: | ​ | ​ | ​ | ​ | ​ | ​
Consumer | ​ | ​ | 93 | ​ | ​ | —
Total | ​ | $ | 93 | ​ | $ | —
​ | ​ | ​ | ​ | ​ | ​ | ​
Without an allowance recorded: | ​ | ​ | ​ | ​ | ​ | ​
One-to four-family | ​ | $ | 816 | ​ | $ | 26
C&I | ​ | ​ | 30,992 | ​ | ​ | 769
Total | ​ | $ | 31,808 | ​ | $ | 795
​
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 September 30, | ​ | Nine months ended September 30,
​ |  | 2023 |  | 2022 |  | 2023 |  | 2022 |
Balance at the beginning of period | ​ | $ | 1,240 | ​ | $ | 180 | ​ | $ | 180 | ​ | $ | 180 | ​
Cumulative effect of changes in accounting principle | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 777 | ​ | ​ | — | ​
Provision/(credit) for credit losses | ​ | ​ | 14 | ​ | ​ | — | ​ | ​ | 297 | ​ | ​ | — | ​
Total ending allowance balance | ​ | $ | 1,254 | ​ | $ | 180 | ​ | $ | 1,254 | ​ | $ | 180 | ​

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