Loans Receivable, Allowance for Credit Losses and Credit Quality

Schedule of outstanding balances of consumer loan pools, shown net of premium (discount)

The outstanding balances of these purchased consumer loan pools, shown net of premium (discount) are as follows as of the dates stated:


	September 30, 2025
	Gross Loan		Premium (Discount)		Net Loan

	(in thousands)

Student loans	$	5,733	$	35	$	5,768
Boat and RV loans		41,517		937		42,454
Automobile loans		68,307		—		68,307
Solar panel loans		50,436		(4,758)		45,678
Home improvement loans		37,768		(15)		37,753
Total	$	203,761	$	(3,801)	$	199,960


	December 31, 2024
	Gross Loan		Premium (Discount)		Net Loan

	(in thousands)

Student loans	$	6,954	$	42	$	6,996
Boat and RV loans		48,147		1,136		49,283
Automobile loans		52,092		—		52,092
Solar panel loans		55,400		(5,073)		50,327
Home improvement loans		44,458		(15)		44,443
Total	$	207,051	$	(3,910)	$	203,141

Schedule of amortized cost of nonaccrual loans receivable by loan category

The following table presents the amortized cost of nonaccrual loans receivable by loan category as of the dates stated:


	September 30, 2025						December 31, 2024
	Nonaccrual		Nonaccrual		Total		Nonaccrual		Nonaccrual		Total
	Loans with		Loans with		Nonaccrual		Loans with		Loans with		Nonaccrual
	No ACL		an ACL		Loans		No ACL		an ACL		Loans

	(In thousands)
Real estate loans:
One-to-four-family residential	$	2,600	$	—	$	2,600	$	2,930	$	—	$	2,930
Home equity		1,172		—		1,172		958		—		958
Commercial real estate		809		—		809		3,005		—		3,005
Construction and land development		10		—		10		10		—		10
Commercial and industrial		562		4,124		4,686		454		4,104		4,558
Consumer		2,080		—		2,080		2,394		1		2,395
Total	$	7,233	$	4,124	$	11,357	$	9,751	$	4,105	$	13,856

Schedule of the change in the ACL by major loan segment


	For the Three Months Ended September 30, 2025
	One-to-Four								Construction
	Family				Commercial				and Land		Commercial and
	Residential		Home Equity		Real Estate		Multi-Family		Development		Industrial		Consumer		Unallocated		Total

	(in thousands)
Balance at June 30, 2025	$	1,288	$	91	$	10,081	$	538	$	7,153	$	14,315	$	9,135	$	—	$	42,601
Provision for (release of) credit losses		222		33		(322)		65		(1,165)		174		2,034		—		1,041
Charge-offs		—		—		—		—		—		—		(693)		—		(693)
Recoveries of loans previously charged-off		—		—		—		—		—		12		91		—		103

Balance at September 30, 2025	$	1,510	$	124	$	9,759	$	603	$	5,988	$	14,501	$	10,567	$	—	$	43,052

	For the Three Months Ended September 30, 2024
	One-to-Four
	Family				Commercial				Construction and		Commercial and
	Residential		Home Equity		Real Estate		Multi-Family		Land Development		Industrial		Consumer		Unallocated		Total

	(in thousands)
Balance at June 30, 2024	$	1,960	$	137	$	7,041	$	482	$	6,436	$	12,457	$	9,344	$	—	$	37,857
Provision for (release of) credit losses		(789)		(72)		5,532		(73)		(2,139)		(1,238)		3,776		—		4,997
Charge offs		—		—		(4,000)		—		—		—		(1,305)		—		(5,305)
Recoveries of loans previously charged off		—		—		—		—		—		12		44		—		56

Balance at September 30, 2024	$	1,171	$	65	$	8,573	$	409	$	4,297	$	11,231	$	11,859	$	—	$	37,605

	For the Nine Months Ended September 30, 2025
	One-to-Four
	Family				Commercial				Construction and		Commercial and
	Residential		Home Equity		Real Estate		Multi-Family		Land Development		Industrial		Consumer		Unallocated		Total

	(in thousands)
Balance at December 31, 2024	$	1,195	$	74	$	9,481	$	599	$	4,137	$	11,174	$	12,084	$	—	$	38,744
Provision for (release of) credit losses		315		50		(645)		4		1,851		3,291		1,366		—		6,232
Charge offs		—		—		—		—		—		—		(3,441)		—		(3,441)
Recoveries of loans previously charged off		—		—		923		—		—		36		558		—		1,517

Balance at September 30, 2025	$	1,510	$	124	$	9,759	$	603	$	5,988	$	14,501	$	10,567	$	—	$	43,052

	For the Nine Months Ended September 30, 2024
	One-to-Four
	Family				Commercial				Construction and		Commercial and
	Residential		Home Equity		Real Estate		Multi-Family		Land Development		Industrial		Consumer		Unallocated		Total

	(in thousands)
Balance at December 31, 2023	$	1,835	$	117	$	5,698	$	378	$	7,630	$	10,878	$	5,686	$	—	$	32,222
Provision for (release of) credit losses		(664)		(52)		6,875		31		(3,333)		684		9,775		—		13,316
Charge offs		—		—		(4,000)		—		—		(391)		(3,800)		—		(8,191)
Recoveries of loans previously charged off		—		—		—		—		—		60		198		—		258

Balance at September 30, 2024	$	1,171	$	65	$	8,573	$	409	$	4,297	$	11,231	$	11,859	$	—	$	37,605

Schedule of analysis of the change in the allowance for loan losses by loan type

The following tables present the period end amortized cost basis of loans modified to borrowers experiencing financial difficulty during the periods indicated, disaggregated by class of financing receivable, type of modification granted and the financial effect of the modifications:


	Three Months Ended September 30, 2025
	Amortized		% of Total Class of
	Cost Basis		Financing Receivable			Financial Effect
	(In thousands)
Interest rate reduction
Commercial real estate	$	37,098		2.0	%		Terminated swap, changed interest rate index, reduced spread and added rate floors
Total	$	37,098

	Nine Months Ended September 30, 2025
	Amortized		% of Total Class of
	Cost Basis		Financing Receivable			Financial Effect
	(In thousands)
Interest rate reduction
Commercial real estate	$	37,098		2.0	%		Terminated swap, changed interest rate index, reduced spread and added rate floors
Total	$	37,098

	Three Months Ended September 30, 2024
	Amortized		% of Total Class of
	Cost Basis		Financing Receivable			Financial Effect
	(In thousands)
Term extension and interest rate increase
Commercial real estate	$	6,200		0.4	%		Resulted in a net charge off of $3.1 million
Total	$	6,200

	Nine Months Ended September 30, 2024
	Amortized		% of Total Class of
	Cost Basis		Financing Receivable			Financial Effect
	(In thousands)
Term extension and interest rate increase
Commercial real estate	$	6,200		0.4	%		Resulted in a net charge off of $3.1 million
Total	$	6,200