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LOANS AND ALLOWANCE FOR CREDIT LOSSES (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2024
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 | ​ | At
​ | ​ | September 30, | ​ | December 31,
​ |  | 2024 | ​ | 2023
Real estate | ​ | ​ | ​ | ​ | ​ | ​
Commercial | ​ | $ | 4,172,690 | ​ | $ | 3,857,711
Construction | ​ | ​ | 176,277 | ​ | ​ | 153,512
Multi-family | ​ | ​ | 389,124 | ​ | ​ | 467,536
One-to four-family | ​ | ​ | 91,582 | ​ | ​ | 94,704
Total real estate loans | ​ | ​ | 4,829,673 | ​ | ​ | 4,573,463
Commercial and industrial | ​ | ​ | 1,069,676 | ​ | ​ | 1,051,463
Consumer | ​ | ​ | 14,162 | ​ | ​ | 17,086
Total loans | ​ | ​ | 5,913,511 | ​ | ​ | 5,642,012
Deferred fees, net of origination costs | ​ | ​ | (16,392) | ​ | ​ | (17,215)
Loans, net of deferred fees and costs | ​ | ​ | 5,897,119 | ​ | ​ | 5,624,797
Allowance for credit losses | ​ | ​ | (62,493) | ​ | ​ | (57,965)
Net loans | ​ | $ | 5,834,626 | ​ | $ | 5,566,832
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): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Multi- | ​ | One-to four- | ​ | ​ | ​ | ​ | ​ | ​
Three months ended September 30, 2024 |  | CRE |  | C&I |  | Construction |  | family |  | family |  | Consumer |  | Total
Allowance for credit losses: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Beginning balance | ​ | $ | 38,484 | ​ | $ | 11,282 | ​ | $ | 1,759 | ​ | $ | 7,827 | ​ | $ | 131 | ​ | $ | 525 | ​ | $ | 60,008
Provision/(credit) for credit losses | ​ | ​ | 2,965 | ​ | ​ | (338) | ​ | ​ | (41) | ​ | ​ | (329) | ​ | ​ | 282 | ​ | ​ | 66 | ​ | ​ | 2,605
Loans charged-off | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (122) | ​ | ​ | (122)
Recoveries | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 2 | ​ | ​ | 2
Total ending allowance balance | ​ | $ | 41,449 | ​ | $ | 10,944 | ​ | $ | 1,718 | ​ | $ | 7,498 | ​ | $ | 413 | ​ | $ | 471 | ​ | $ | 62,493
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Multi- | ​ | One-to four- | ​ | ​ | ​ | ​ | ​ | ​
Three months ended September 30, 2023 |  | CRE |  | C&I |  | 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
​ ​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Multi- | ​ | One-to four- | ​ | ​ | ​ | ​ | ​ | ​
Nine months ended September 30, 2024 |  | CRE |  | C&I |  | Construction |  | family |  | family |  | Consumer |  | Total
Allowance for credit losses: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Beginning balance | ​ | $ | 35,635 | ​ | $ | 11,207 | ​ | $ | 1,765 | ​ | $ | 8,215 | ​ | $ | 663 | ​ | $ | 480 | ​ | $ | 57,965
Provision/(credit) for credit losses | ​ | ​ | 5,813 | ​ | ​ | (263) | ​ | ​ | (47) | ​ | ​ | (717) | ​ | ​ | (250) | ​ | ​ | 128 | ​ | ​ | 4,664
Loans charged-off | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (140) | ​ | ​ | (140)
Recoveries | ​ | ​ | 1 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 3 | ​ | ​ | 4
Total ending allowance balance | ​ | $ | 41,449 | ​ | $ | 10,944 | ​ | $ | 1,718 | ​ | $ | 7,498 | ​ | $ | 413 | ​ | $ | 471 | ​ | $ | 62,493
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Multi- | ​ | One-to four- | ​ | ​ | ​ | ​ | ​ | ​
Nine months ended September 30, 2023 |  | CRE |  | C&I |  | 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 | ​ | ​ | 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
​ ​ ​
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 90 days and greater and still accruing, by class of loans (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | Loans Past Due
​ | ​ | ​ | ​ | Non-accrual | ​ | 90 Days and
​ | ​ | ​ | ​ | Without an | ​ | Greater and
At September 30, 2024 |  | Non-accrual | ​ | ACL | ​ | Still Accruing
Commercial real estate | ​ | $ | 24,000 | ​ | $ | 24,000 | ​ | $ | —
Commercial & industrial | ​ | ​ | 6,989 | ​ | ​ | 6,989 | ​ | ​ | —
Total | ​ | $ | 30,989 | ​ | $ | 30,989 | ​ | $ | —
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | Loans Past Due
​ | ​ | ​ | ​ | ​ | Non-accrual | ​ | 90 Days and
​ | ​ | ​ | ​ | Without an | ​ | Greater and
At December 31, 2023 | ​ | Non-accrual | ​ | ACL | ​ | Still Accruing
Commercial real estate | ​ | $ | 24,000 | ​ | $ | 24,000 | ​ | $ | —
Commercial & industrial | ​ | ​ | 6,934 | ​ | ​ | 6,934 | ​ | ​ | —
Multi-family | ​ | ​ | 20,939 | ​ | ​ | — | ​ | ​ | —
Consumer | ​ | ​ | 24 | ​ | ​ | — | ​ | ​ | —
Total | ​ | $ | 51,897 | ​ | $ | 30,934 | ​ | $ | —
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, 2024 |  | Days |  | Days |  | Greater |  | Due |  | Loans |  | Total
Commercial real estate | ​ | $ | — | ​ | $ | 4,882 | ​ | $ | 24,000 | ​ | $ | 28,882 | ​ | $ | 4,143,808 | ​ | $ | 4,172,690
Commercial & industrial | ​ | ​ | 8,697 | ​ | ​ | — | ​ | ​ | 6,989 | ​ | ​ | 15,686 | ​ | ​ | 1,053,990 | ​ | ​ | 1,069,676
Construction | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 176,277 | ​ | ​ | 176,277
Multi-family | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 389,124 | ​ | ​ | 389,124
One-to four-family | ​ | ​ | 1,100 | ​ | ​ | 2,061 | ​ | ​ | — | ​ | ​ | 3,161 | ​ | ​ | 88,421 | ​ | ​ | 91,582
Consumer | ​ | ​ | 222 | ​ | ​ | 2 | ​ | ​ | — | ​ | ​ | 224 | ​ | ​ | 13,938 | ​ | ​ | 14,162
Total | ​ | $ | 10,019 | ​ | $ | 6,945 | ​ | $ | 30,989 | ​ | $ | 47,953 | ​ | $ | 5,865,558 | ​ | $ | 5,913,511
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | 90 | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 30-59 | ​ | 60-89 | ​ | Days and | ​ | Total Past | ​ | Current | ​ | ​
At December 31, 2023 |  | Days |  | Days |  | Greater |  | Due |  | Loans |  | Total
Commercial real estate | ​ | $ | — | ​ | $ | — | ​ | $ | 24,000 | ​ | $ | 24,000 | ​ | $ | 3,833,711 | ​ | $ | 3,857,711
Commercial & industrial | ​ | ​ | 20 | ​ | ​ | 18 | ​ | ​ | 6,934 | ​ | ​ | 6,973 | ​ | ​ | 1,044,490 | ​ | ​ | 1,051,463
Construction | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 153,512 | ​ | ​ | 153,512
Multi-family | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 20,939 | ​ | ​ | 20,939 | ​ | ​ | 446,597 | ​ | ​ | 467,536
One-to four-family | ​ | ​ | 612 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 612 | ​ | ​ | 94,092 | ​ | ​ | 94,704
Consumer | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 24 | ​ | ​ | 24 | ​ | ​ | 17,062 | ​ | ​ | 17,086
Total | ​ | $ | 632 | ​ | $ | 18 | ​ | $ | 51,897 | ​ | $ | 52,548 | ​ | $ | 5,589,464 | ​ | $ | 5,642,012
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, 2024 and charge-offs for the nine months ended September 30, 2024 (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 2019 | ​ | ​ | ​ | ​
​ |  | 2024 |  | 2023 |  | 2022 |  | 2021 |  | 2020 |  | & Prior |  | Revolving |  | Total
CRE | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Pass | ​ | $ | 1,159,644 | ​ | $ | 1,218,106 | ​ | $ | 1,044,044 | ​ | $ | 318,293 | ​ | $ | 127,205 | ​ | $ | 176,208 | ​ | $ | 25,908 | ​ | $ | 4,069,408
Special Mention | ​ | ​ | 47,539 | ​ | ​ | — | ​ | ​ | 5,000 | ​ | ​ | 14,332 | ​ | ​ | — | ​ | ​ | 12,411 | ​ | ​ | — | ​ | ​ | 79,282
Substandard | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 24,000 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 24,000
Total | ​ | $ | 1,207,183 | ​ | $ | 1,218,106 | ​ | $ | 1,073,044 | ​ | $ | 332,625 | ​ | $ | 127,205 | ​ | $ | 188,619 | ​ | $ | 25,908 | ​ | $ | 4,172,690
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Construction | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Pass | ​ | $ | 57,323 | ​ | $ | 53,558 | ​ | $ | 38,386 | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | 27,010 | ​ | $ | 176,277
Total | ​ | $ | 57,323 | ​ | $ | 53,558 | ​ | $ | 38,386 | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | 27,010 | ​ | $ | 176,277
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Multi-family | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Pass | ​ | $ | 101,438 | ​ | $ | 47,969 | ​ | $ | 74,277 | ​ | $ | 60,882 | ​ | $ | 23,123 | ​ | $ | 26,867 | ​ | $ | 3,329 | ​ | $ | 337,885
Substandard | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 30,300 | ​ | ​ | 20,939 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 51,239
Total | ​ | $ | 101,438 | ​ | $ | 47,969 | ​ | $ | 104,577 | ​ | $ | 81,821 | ​ | $ | 23,123 | ​ | $ | 26,867 | ​ | $ | 3,329 | ​ | $ | 389,124
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
One-to four-family | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current | ​ | $ | — | ​ | $ | 45,000 | ​ | $ | 3,493 | ​ | $ | — | ​ | $ | 9,578 | ​ | $ | 30,350 | ​ | $ | — | ​ | $ | 88,421
Past Due | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 3,161 | ​ | ​ | — | ​ | ​ | 3,161
Total | ​ | $ | — | ​ | $ | 45,000 | ​ | $ | 3,493 | ​ | $ | — | ​ | $ | 9,578 | ​ | $ | 33,511 | ​ | $ | — | ​ | $ | 91,582
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
C&I | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Pass | ​ | $ | 196,924 | ​ | $ | 114,913 | ​ | $ | 146,239 | ​ | $ | 67,353 | ​ | $ | 15,931 | ​ | $ | 10,441 | ​ | $ | 460,563 | ​ | $ | 1,012,364
Special Mention | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 9,319 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 1,500 | ​ | ​ | 10,819
Substandard | ​ | ​ | — | ​ | ​ | 7,643 | ​ | ​ | 20,968 | ​ | ​ | 4,697 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 13,185 | ​ | ​ | 46,493
Total | ​ | $ | 196,924 | ​ | $ | 122,556 | ​ | $ | 176,526 | ​ | $ | 72,050 | ​ | $ | 15,931 | ​ | $ | 10,441 | ​ | $ | 475,248 | ​ | $ | 1,069,676
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Consumer | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | 13,938 | ​ | $ | — | ​ | $ | 13,938
Past due | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 224 | ​ | ​ | — | ​ | ​ | 224
Total | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | 14,162 | ​ | $ | — | ​ | $ | 14,162
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Pass/Current | ​ | $ | 1,515,329 | ​ | $ | 1,479,546 | ​ | $ | 1,306,439 | ​ | $ | 446,528 | ​ | $ | 175,837 | ​ | $ | 257,804 | ​ | $ | 516,810 | ​ | $ | 5,698,293
Special Mention | ​ | ​ | 47,539 | ​ | ​ | — | ​ | ​ | 14,319 | ​ | ​ | 14,332 | ​ | ​ | — | ​ | ​ | 12,411 | ​ | ​ | 1,500 | ​ | ​ | 90,101
Substandard/Past due | ​ | ​ | — | ​ | ​ | 7,643 | ​ | ​ | 75,268 | ​ | ​ | 25,636 | ​ | ​ | — | ​ | ​ | 3,385 | ​ | ​ | 13,185 | ​ | ​ | 125,117
Total | ​ | $ | 1,562,868 | ​ | $ | 1,487,189 | ​ | $ | 1,396,026 | ​ | $ | 486,496 | ​ | $ | 175,837 | ​ | $ | 273,600 | ​ | $ | 531,495 | ​ | $ | 5,913,511
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Charge-offs | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Consumer | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | 140 | ​ | $ | — | ​ | $ | 140
The following table presents loan balances by credit quality indicator and year of origination at December 31, 2023 and charge-offs for the year ended December 31, 2023 (in thousands):
Schedule of borrowers experiencing financial difficulty | The following tables show the amortized cost basis of modified loans to borrowers experiencing financial difficulty (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Combination | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Term | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Modifications
​ | ​ | Extension and | ​ | Interest Rate | ​ | ​ | ​ | ​ | as a % of
Three months ended September 30, 2024 | ​ | Interest Rate | ​ | Reduction | ​ | Total | ​ | Loan Class
Commercial & industrial | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | — | %
Multi-family | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | — | %
Total | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Combination | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Term | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Modifications
​ | ​ | Extension and | ​ | Interest Rate | ​ | ​ | ​ | ​ | as a % of
Nine months ended September 30, 2024 | ​ | Interest Rate | ​ | Reduction | ​ | Total | ​ | Loan Class
Commercial & industrial | ​ | $ | 11,686 | ​ | $ | — | ​ | $ | 11,686 | ​ | 1.1 | %
Multi-family | ​ | ​ | 48,224 | ​ | ​ | 3,015 | ​ | ​ | 51,239 | ​ | 13.2 | %
Total | ​ | $ | 59,910 | ​ | $ | 3,015 | ​ | $ | 62,925 | ​ | ​ | ​
​ The following table describes the types of modifications made to borrowers experiencing financial difficulty: ​
​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Weighted
​ | ​ | ​ | ​ | Average
​ | ​ | ​ | ​ | Interest
​ | ​ | Term | ​ | Rate
​ | ​ | Extension | ​ | Reduction
Three months ended September 30, 2024 | ​ | ​ | ​ | ​
Commercial & industrial | ​ | None | ​ | None
​ | ​ | ​ | ​ | ​
Nine months ended September 30, 2024 | ​ | ​ | ​ | ​
Commercial & industrial | ​ | 11-12 months | ​ | 2.9%
Multi-family | ​ | 6-12 months | ​ | 4.1%
​ | ​ | ​ | ​ | ​
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,
​ |  | 2024 |  | 2023 | ​ | 2024 |  | 2023
Balance at the beginning of period | ​ | $ | 1,188 | ​ | $ | 1,240 | ​ | $ | 1,181 | ​ | $ | 180
Cumulative effect of changes in accounting principle | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 777
Provision/(credit) for credit losses | ​ | ​ | 86 | ​ | ​ | 14 | ​ | ​ | 93 | ​ | ​ | 297
Total ending allowance balance | ​ | $ | 1,274 | ​ | $ | 1,254 | ​ | $ | 1,274 | ​ | $ | 1,254

X
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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://fasb.org/us-gaap/role/ref/otherTransitionRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 29 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481962/310-10-50-29 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 326 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479319/326-20-50-5 + Details
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details
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