Schedule of net loans

Loans, net of deferred costs and fees, consist of the following (in thousands):


	At		At
	September 30,		December 31,
	2025		2024
Real estate
Commercial	$	5,070,880	$	4,317,361
Construction		271,953		206,960
Multi-family		405,714		376,737
One-to four-family		87,384		90,880
Total real estate loans		5,835,931		4,991,938
Commercial and industrial		953,051		1,046,146
Consumer		10,735		12,961
Total loans		6,799,717		6,051,045
Deferred fees, net of origination costs		(18,014)		(16,969)
Loans, net of deferred fees and costs		6,781,703		6,034,076
Allowance for credit losses		(94,239)		(63,273)
Net loans	$	6,687,464	$	5,970,803

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
	Total		Without an		Greater and
At September 30, 2025	Non-accrual		ACL		Still Accruing
Commercial real estate	$	32,830	$	8,830	$	—
Commercial & industrial		8,989		6,989		—
Multi-family		37,292		2,554		—
One-to-four family		2,451		2,451		—
Consumer		—		—		—
Total	$	81,562	$	20,824	$	—


					Loans Past Due
			Non-accrual		90 Days and
	Total		Without an		Greater and
At December 31, 2024	Non-accrual		ACL		Still Accruing
Commercial real estate	$	25,087	$	25,087	$	—
Commercial & industrial		6,989		6,989		—
One-to-four family		452		452		—
Consumer		—		—		72
Total	$	32,528	$	32,528	$	72

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, 2025 and charge-offs for the nine months ended September 30, 2025 (in thousands):


											2020
	2025		2024		2023		2022		2021		& Prior		Revolving		Total
CRE
Pass	$	1,964,988	$	1,135,321	$	841,288	$	633,241	$	200,518	$	154,592	$	50,219	$	4,980,167
Special Mention		19,535		33,610		—		—		1,248		—		—		54,393
Substandard		1,800		—		—		24,000		8,830		1,690		—		36,320
Total	$	1,986,323	$	1,168,931	$	841,288	$	657,241	$	210,596	$	156,282	$	50,219	$	5,070,880

Construction
Pass	$	93,607	$	37,715	$	110,711	$	—	$	—	$	—	$	29,920	$	271,953
Total	$	93,607	$	37,715	$	110,711	$	—	$	—	$	—	$	29,920	$	271,953

Multi-family
Pass	$	145,417	$	35,950	$	30,384	$	67,093	$	61,003	$	13,259	$	2,641	$	355,747
Substandard		—		2,554		—		30,300		17,113		—		—		49,967
Total	$	145,417	$	38,504	$	30,384	$	97,393	$	78,116	$	13,259	$	2,641	$	405,714

One-to four-family
Current	$	—	$	—	$	45,000	$	3,214	$	—	$	36,719	$	—	$	84,933
Past Due		—		—		—		—		—		2,451		—		2,451
Total	$	—	$	—	$	45,000	$	3,214	$	—	$	39,170	$	—	$	87,384

C&I
Pass	$	107,709	$	159,162	$	71,655	$	86,493	$	36,635	$	3,980	$	428,501	$	894,135
Substandard		15,120		—		7,643		20,968		—		—		15,185		58,916
Total	$	122,829	$	159,162	$	79,298	$	107,461	$	36,635	$	3,980	$	443,686	$	953,051

Consumer
Current	$	—	$	—	$	—	$	—	$	—	$	10,582	$	—	$	10,582
Past due		—		—		—		—		—		153		—		153
Total	$	—	$	—	$	—	$	—	$	—	$	10,735	$	—	$	10,735

Total
Pass/Current	$	2,311,721	$	1,368,148	$	1,099,038	$	790,041	$	298,156	$	219,132	$	511,281	$	6,597,517
Special Mention		19,535		33,610		—		—		1,248		—		—		54,393
Substandard/Past due		16,920		2,554		7,643		75,268		25,943		4,294		15,185		147,807
Total	$	2,348,176	$	1,404,312	$	1,106,681	$	865,309	$	325,347	$	223,426	$	526,466	$	6,799,717

Charge-offs
Multi-family	$	—	$	—	$	—	$	—	$	3,827	$	—	$	—	$	3,827
Consumer		—		—		—		—		—		263		—		263
Total	$	—	$	—	$	—	$	—	$	3,827	$	263	$	—	$	4,090

The following table presents loan balances by credit quality indicator and year of origination at December 31, 2024 and charge-offs for the year ended December 31, 2024 (in thousands):


											2019
	2024		2023		2022		2021		2020		& Prior		Revolving		Total
CRE
Pass	$	1,613,785	$	1,114,212	$	927,851	$	241,340	$	125,676	$	149,727	$	26,569	$	4,199,160
Special Mention		73,859		—		5,000		14,255		—		—		—		93,114
Substandard		1,087		—		24,000		—		—		—		—		25,087
Total	$	1,688,731	$	1,114,212	$	956,851	$	255,595	$	125,676	$	149,727	$	26,569	$	4,317,361

Construction
Pass	$	104,503	$	65,231	$	8,693	$	—	$	—	$	—	$	28,533	$	206,960
Total	$	104,503	$	65,231	$	8,693	$	—	$	—	$	—	$	28,533	$	206,960

Multi-family
Pass	$	110,440	$	38,143	$	74,120	$	63,086	$	23,005	$	13,480	$	3,224	$	325,498
Substandard		—		—		30,300		20,939		—		—		—		51,239
Total	$	110,440	$	38,143	$	104,420	$	84,025	$	23,005	$	13,480	$	3,224	$	376,737

One-to four-family
Current	$	—	$	45,000	$	3,469	$	—	$	9,531	$	30,379	$	—	$	88,379
Past Due		—		—		—		—		—		2,501		—		2,501
Total	$	—	$	45,000	$	3,469	$	—	$	9,531	$	32,880	$	—	$	90,880

C&I
Pass	$	238,850	$	96,201	$	119,601	$	62,865	$	14,987	$	1,929	$	452,477	$	986,910
Special Mention		—		1,497		10,246		—		—		—		1,000		12,743
Substandard		—		7,643		20,968		4,697		—		—		13,185		46,493
Total	$	238,850	$	105,341	$	150,815	$	67,562	$	14,987	$	1,929	$	466,662	$	1,046,146

Consumer
Current	$	—	$	—	$	—	$	—	$	—	$	12,743	$	—	$	12,743
Past due		—		—		—		—		—		218		—		218
Total	$	—	$	—	$	—	$	—	$	—	$	12,961	$	—	$	12,961

Total
Pass/Current	$	2,067,578	$	1,358,787	$	1,133,734	$	367,291	$	173,199	$	208,258	$	510,803	$	5,819,650
Special Mention		73,859		1,497		15,246		14,255		—		—		1,000		105,857
Substandard/Past due		1,087		7,643		75,268		25,636		—		2,719		13,185		125,538
Total	$	2,142,524	$	1,367,927	$	1,224,248	$	407,182	$	173,199	$	210,977	$	524,988	$	6,051,045

Charge-offs
Consumer	$	—	$	—	$	—	$	—	$	—	$	247	$	—	$	247

Schedule of borrowers experiencing financial difficulty

The following tables show the amortized cost basis of modified loans to borrowers experiencing financial difficulty during the periods indicated (in thousands):


			Combination
			Term
			Extension and						Modifications
			Interest Rate		Interest Rate				as a % of
	Extension		Reduction		Reduction		Total		Loan Class
Three months ended September 30, 2025
Commercial & industrial	$	10,922	$	—	$	—	$	10,922	1.1	%
Multi-family		3,015		—		—		3,015	0.7	%
Total	$	13,937	$	—	$	—	$	13,937

Nine months ended September 30, 2025
Commercial & industrial	$	10,922	$	—	$	—	$	10,922	1.1	%
Multi-family		47,412		—		—		47,412	11.7	%
Total	$	58,334	$	—	$	—	$	58,334


			Combination
			Term
			Extension and						Modifications
			Interest Rate		Interest Rate				as a % of
	Extension		Reduction		Reduction		Total		Loan Class
Three months ended September 30, 2024
Commercial & industrial	$	—	$	—	$	—	$	—	—	%
Multi-family		—		—		—		—	—	%
Total	$	—	$	—	$	—	$	—

Nine months ended September 30, 2024
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 tables describe the types of modifications made to borrowers experiencing financial difficulty:


	Types of Modifications
		Weighted
		Average
		Interest
	Term	Rate
	Extension	Reduction
Three months ended September 30, 2025
Commercial & industrial	144 months	0.0%
Multi-family	6-12 months	0.0%

Nine months ended September 30, 2025
Commercial & industrial	144 months	0.0%
Multi-family	6-12 months	0.0%


	Types of Modifications
		Weighted
		Average
		Interest
	Term	Rate
	Extension	Reduction
Three months ended September 30, 2024
Commercial & industrial	None	None
Multi-family	None	None

Nine months ended September 30, 2024
Commercial & industrial	11-12 months	2.9%
Multi-family	6-12 months	4.1%

Loans and Leases Receivable Disclosure [Line Items]