Loans and Allowance for Credit Losses

Schedule of classes of loans by aging as of the dates indicated


	December 31, 2024
													Total Loans
					Over 90						Total		> 90 Days Past
	30-59 Days		60-89 Days		Days		Total Past				Loans		Due and
	Past Due		Past Due		Past Due		Due		Current		Receivable		Still Accruing

	(In Thousands)
One- to four-family residential construction	$	12	$	—	$	—	$	12	$	30,521	$	30,533	$	—
Subdivision construction		—		—		—		—		19,861		19,861		—
Land development		—		—		464		464		42,040		42,504		—
Commercial construction		—		—		—		—		352,793		352,793		—
Owner occupied one- to four- family residential		1,704		816		950		3,470		706,976		710,446		—
Non-owner occupied one- to four-family residential		642		—		1,681		2,323		120,578		122,901		—
Commercial real estate		—		—		77		77		1,543,665		1,543,742		—
Other residential		—		—		—		—		1,549,249		1,549,249		—
Commercial business		—		—		245		245		208,702		208,947		—
Industrial revenue bonds		—		—		139		139		11,205		11,344		—
Consumer auto		39		1		—		40		25,747		25,787		—
Consumer other		145		4		17		166		27,739		27,905		—
Home equity lines of credit		63		56		—		119		115,717		115,836		—

Total	$	2,605	$	877	$	3,573	$	7,055	$	4,754,793	$	4,761,848	$	—


	December 31, 2023
													Total Loans
					Over 90						Total		> 90 Days Past
	30-59 Days		60-89 Days		Days		Total Past				Loans		Due and
	Past Due		Past Due		Past Due		Due		Current		Receivable		Still Accruing

	(In Thousands)
One- to four-family residential construction	$	—	$	—	$	—	$	—	$	29,628	$	29,628	$	—
Subdivision construction		—		—		—		—		23,359		23,359		—
Land development		—		—		384		384		47,631		48,015		—
Commercial construction		—		—		—		—		703,407		703,407		—
Owner occupied one- to four- family residential		2,778		125		722		3,625		765,635		769,260		—
Non-owner occupied one- to four-family residential		—		—		—		—		121,275		121,275		—
Commercial real estate		187		92		10,552		10,831		1,510,201		1,521,032		—
Other residential		9,572		—		—		9,572		932,499		942,071		—
Commercial business		—		—		31		31		318,019		318,050		—
Industrial revenue bonds		—		—		—		—		12,047		12,047		—
Consumer auto		116		65		8		189		28,154		28,343		—
Consumer other		137		—		42		179		28,799		28,978		—
Home equity lines of credit		335		26		9		370		115,513		115,883		—

Total	$	13,125	$	308	$	11,748	$	25,181	$	4,636,167	$	4,661,348	$	—

Schedule of activity in the allowance for credit losses and unfunded commitments by portfolio segment


	One- to Four-
	Family
	Residential
	and		Other		Commercial		Commercial		Commercial
	Construction		Residential		Real Estate		Construction		Business		Consumer		Total

	(In Thousands)

Allowance for credit losses
Balance, January 1, 2024	$	9,820	$	13,370	$	28,171	$	2,844	$	6,935	$	3,530	$	64,670
Provision (credit) charged to expense		(570)		2,224		1,931		(202)		(2,526)		843		1,700
Losses charged off		(64)		—		(1,300)		(101)		(243)		(1,492)		(3,200)
Recoveries		38		—		—		194		490		868		1,590
Balance, December 31, 2024	$	9,224	$	15,594	$	28,802	$	2,735	$	4,656	$	3,749	$	64,760

Allowance for credit losses
Balance, January 1, 2023	$	11,171	$	12,110	$	27,096	$	2,865	$	5,822	$	4,416	$	63,480
Provision (credit) charged to expense		(1,390)		1,260		930		(27)		1,909		(432)		2,250
Losses charged off		(31)		—		—		—		(1,037)		(1,754)		(2,822)
Recoveries		70		—		145		6		241		1,300		1,762
Balance, December 31, 2023	$	9,820	$	13,370	$	28,171	$	2,844	$	6,935	$	3,530	$	64,670

Allowance for credit losses
Balance, January 1, 2022	$	9,364	$	10,502	$	28,604	$	2,797	$	4,142	$	5,345	$	60,754
Provision (credit) charged to expense		1,652		1,498		(1,465)		152		1,491		(328)		3,000
Losses charged off		(40)		—		(44)		(84)		(51)		(1,950)		(2,169)
Recoveries		195		110		1		—		240		1,349		1,895
Balance, December 31, 2022	$	11,171	$	12,110	$	27,096	$	2,865	$	5,822	$	4,416	$	63,480


	One- to Four-
	Family
	Residential
	and		Other		Commercial		Commercial		Commercial
	Construction		Residential		Real Estate		Construction		Business		Consumer		Total

	(In Thousands)
Allowance for unfunded commitments
Balance, January 1, 2024	$	706	$	4,006	$	619	$	741	$	959	$	456	$	7,487
Provision (credit) charged to expense		(87)		827		34		(245)		509		(22)		1,016
Balance, December 31, 2024	$	619	$	4,833	$	653	$	496	$	1,468	$	434	$	8,503

Allowance for unfunded commitments
Balance, January 1, 2023	$	736	$	8,624	$	416	$	802	$	1,734	$	504	$	12,816
Provision (credit) charged to expense		(30)		(4,618)		203		(61)		(775)		(48)		(5,329)
Balance, December 31, 2023	$	706	$	4,006	$	619	$	741	$	959	$	456	$	7,487

Allowance for unfunded commitments
Balance, January 1, 2022	$	687	$	5,703	$	367	$	908	$	1,582	$	382	$	9,629
Provision (credit) charged to expense		49		2,921		49		(106)		152		122		3,187
Balance, December 31, 2022	$	736	$	8,624	$	416	$	802	$	1,734	$	504	$	12,816

Schedule of loan modifications made to borrowers experiencing financial difficulty by the loan portfolio and type of concessions granted


	Amortized Cost Basis at December 31, 2024
	Interest Rate		Term				Total
	Reduction		Extension		Combination		Modifications

	(In Thousands)
Construction and land development	$	—	$	—	$	—	$	—
One- to four-family residential		—		—		—		—
Other residential		—		2,709		—		2,709
Commercial real estate		—		70		—		70
Commercial business		—		—		—		—
Consumer		—		31		—		31
	$	—	$	2,810	$	—	$	2,810


	Amortized Cost Basis at December 31, 2023
	Interest Rate		Term				Total
	Reduction		Extension		Combination		Modifications

	(In Thousands)
Construction and land development	$	—	$	—	$	1,553	$	1,553
One- to four-family residential		—		—		—		—
Other residential		—		2,750		—		2,750
Commercial real estate		—		77		20,365		20,442
Commercial business		—		—		—		—
Consumer		5		7		—		12
	$	5	$	2,834	$	21,918	$	24,757

Schedule of loans by category and risk rating separated by origination and loan class

The following tables present a summary of loans by category and risk rating separated by origination and loan class as of December 31, 2024 and December 31, 2023.


	Term Loans by Origination Year
													Revolving
December 31, 2024	2024		2023		2022		2021		2020		Prior		Loans		Total

	(In Thousands)
One- to four-family residential construction
Satisfactory (1-4)	$	11,750	$	8,961	$	822	$	—	$	—	$	—	$	9,000	$	30,533
Watch (5)		—		—		—		—		—		—		—		—
Special Mention (6)		—		—		—		—		—		—		—		—
Classified (7-9)		—		—		—		—		—		—		—		—
Total		11,750		8,961		822		—		—		—		9,000		30,533
Current Period Gross Charge Offs		—		—		—		—		—		—		—		—

Subdivision construction
Satisfactory (1-4)		711		182		136		17,609		29		205		989		19,861
Watch (5)		—		—		—		—		—		—		—		—
Special Mention (6)		—		—		—		—		—		—		—		—
Classified (7-9)		—		—		—		—		—		—		—		—
Total		711		182		136		17,609		29		205		989		19,861
Current Period Gross Charge Offs		—		—		—		—		—		—		—		—

Construction and land development
Satisfactory (1-4)		18,282		6,112		2,722		5,210		3,105		4,236		2,373		42,040
Watch (5)		—		—		—		—		—		—		—		—
Special Mention (6)		—		—		—		—		—		—		—		—
Classified (7-9)		—		—		—		—		464		—		—		464
Total		18,282		6,112		2,722		5,210		3,569		4,236		2,373		42,504
Current Period Gross Charge Offs		—		—		—		—		—		101		—		101

Other construction
Satisfactory (1-4)		78,337		52,046		189,389		33,021		—		—		—		352,793
Watch (5)		—		—		—		—		—		—		—		—
Special Mention (6)		—		—		—		—		—		—		—		—
Classified (7-9)		—		—		—		—		—		—		—		—
Total		78,337		52,046		189,389		33,021		—		—		—		352,793
Current Period Gross Charge Offs		—		—		—		—		—		—		—		—

One- to four-family residential
Satisfactory (1-4)		42,931		59,973		304,054		176,759		91,238		153,392		426		828,773
Watch (5)		—		—		—		—		145		597		—		742
Special Mention (6)		—		—		—		—		—		—		—		—
Classified (7-9)		—		628		387		129		—		1,178		1,510		3,832
Total		42,931		60,601		304,441		176,888		91,383		155,167		1,936		833,347
Current Period Gross Charge Offs		—		49		—		—		—		16		—		65

Other residential (multi-family)
Satisfactory (1-4)		66,028		92,268		552,183		506,902		179,094		146,712		3,352		1,546,539
Watch (5)		—		—		—		—		—		2,710		—		2,710
Special Mention (6)		—		—		—		—		—		—		—		—
Classified (7-9)		—		—		—		—		—		—		—		—
Total		66,028		92,268		552,183		506,902		179,094		149,422		3,352		1,549,249
Current Period Gross Charge Offs		—		—		—		—		—		—		—		—

Commercial real estate
Satisfactory (1-4)		97,512		81,282		320,442		217,049		96,246		682,549		35,937		1,531,017
Watch (5)		—		—		—		—		—		7,879		—		7,879
Special Mention (6)		—		—		—		—		—		438		—		438
Classified (7-9)		—		—		—		77		—		4,331		—		4,408
Total		97,512		81,282		320,442		217,126		96,246		695,197		35,937		1,543,742
Current Period Gross Charge Offs		—		—		54		10		—		1,236		—		1,300

Commercial business
Satisfactory (1-4)		21,179		29,846		28,678		20,301		7,646		44,908		62,015		214,573
Watch (5)		—		—		1,005		3,296		—		—		—		4,301
Special Mention (6)		—		—		995		—		38		—		—		1,033
Classified (7-9)		—		245		—		—		—		139		—		384
Total		21,179		30,091		30,678		23,597		7,684		45,047		62,015		220,291
Current Period Gross Charge Offs		—		—		—		4		27		164		48		243

Consumer
Satisfactory (1-4)		17,391		9,234		6,147		2,618		1,151		10,478		120,653		167,672
Watch (5)		—		—		5		—		4		194		107		310
Special Mention (6)		—		—		—		—		—		—		—		—
Classified (7-9)		1		9		11		20		—		53		1,452		1,546
Total		17,392		9,243		6,163		2,638		1,155		10,725		122,212		169,528
Current Period Gross Charge Offs		13		105		122		32		4		1,161		54		1,491

Combined
Satisfactory (1-4)		354,121		339,904		1,404,573		979,469		378,509		1,042,480		234,745		4,733,801
Watch (5)		—		—		1,010		3,296		149		11,380		107		15,942
Special Mention (6)		—		—		995		—		38		438		—		1,471
Classified (7-9)		1		882		398		226		464		5,701		2,962		10,634
Total	$	354,122	$	340,786	$	1,406,976	$	982,991	$	379,160	$	1,059,999	$	237,814	$	4,761,848
Current Period Gross Charge Offs	$	13	$	154	$	176	$	46	$	31	$	2,678	$	102	$	3,200


	Term Loans by Origination Year
													Revolving
December 31, 2023	2023		2022		2021		2020		2019		Prior		Loans		Total

	(In Thousands)

One- to four-family residential construction
Satisfactory (1-4)	$	12,528	$	9,878	$	41	$	—	$	—	$	—	$	7,181	$	29,628
Watch (5)		—		—		—		—		—		—		—		—
Special Mention (6)		—		—		—		—		—		—		—		—
Classified (7-9)		—		—		—		—		—		—		—		—
Total		12,528		9,878		41		—		—		—		7,181		29,628
Current Period Gross Charge Offs		—		—		—		—		—		—		—		—

Subdivision construction
Satisfactory (1-4)		532		1,022		21,333		43		64		365		—		23,359
Watch (5)		—		—		—		—		—		—		—		—
Special Mention (6)		—		—		—		—		—		—		—		—
Classified (7-9)		—		—		—		—		—		—		—		—
Total		532		1,022		21,333		43		64		365		—		23,359
Current Period Gross Charge Offs		—		—		—		—		—		—		—		—

Construction and land development
Satisfactory (1-4)		14,860		12,564		5,658		3,682		5,458		4,531		878		47,631
Watch (5)		—		—		—		—		—		—		—		—
Special Mention (6)		—		—		—		—		—		—		—		—
Classified (7-9)		—		—		—		—		—		—		384		384
Total		14,860		12,564		5,658		3,682		5,458		4,531		1,262		48,015
Current Period Gross Charge Offs		—		—		—		—		—		—		—		—

Other construction
Satisfactory (1-4)		60,895		422,727		203,918		15,867		—		—		—		703,407
Watch (5)		—		—		—		—		—		—		—		—
Special Mention (6)		—		—		—		—		—		—		—		—
Classified (7-9)		—		—		—		—		—		—		—		—
Total		60,895		422,727		203,918		15,867		—		—		—		703,407
Current Period Gross Charge Offs		—		—		—		—		—		—		—		—

One- to four-family residential
Satisfactory (1-4)		66,733		330,489		203,781		108,232		60,288		118,570		483		888,576
Watch (5)		—		—		—		—		171		862		46		1,079
Special Mention (6)		—		—		—		—		—		—		—		—
Classified (7-9)		—		—		543		148		—		189		—		880
Total		66,733		330,489		204,324		108,380		60,459		119,621		529		890,535
Current Period Gross Charge Offs		—		—		—		—		—		11		20		31

Other residential (multi-family)
Satisfactory (1-4)		18,795		108,389		391,516		180,916		108,173		111,462		3,335		922,586
Watch (5)		—		—		—		—		—		—		—		—
Special Mention (6)		—		—		—		—		—		12,322		—		12,322
Classified (7-9)		—		—		—		—		—		7,163		—		7,163
Total		18,795		108,389		391,516		180,916		108,173		130,947		3,335		942,071
Current Period Gross Charge Offs		—		—		—		—		—		—		—		—

Commercial real estate
Satisfactory (1-4)		53,158		284,738		237,822		103,393		161,680		624,515		35,276		1,500,582
Watch (5)		—		—		—		—		154		5,348		—		5,502
Special Mention (6)		—		—		—		—		—		4,396		—		4,396
Classified (7-9)		—		—		—		—		—		10,552		—		10,552
Total		53,158		284,738		237,822		103,393		161,834		644,811		35,276		1,521,032
Current Period Gross Charge Offs		—		—		—		—		—		—		—		—

Commercial business
Satisfactory (1-4)		58,551		92,224		30,361		15,371		10,043		55,044		57,177		318,771
Watch (5)		—		—		—		—		—		1,369		—		1,369
Special Mention (6)		—		1,186		3,840		—		—		—		4,900		9,926
Classified (7-9)		—		—		4		27		—		—		—		31
Total		58,551		93,410		34,205		15,398		10,043		56,413		62,077		330,097
Current Period Gross Charge Offs		—		7		—		—		—		1,030		—		1,037

Consumer
Satisfactory (1-4)		16,629		12,010		6,163		2,811		828		12,089		122,166		172,696
Watch (5)		—		3		21		6		3		201		154		388
Special Mention (6)		—		—		—		—		—		—		8		8
Classified (7-9)		—		42		12		—		—		49		9		112
Total		16,629		12,055		6,196		2,817		831		12,339		122,337		173,204
Current Period Gross Charge Offs		4		135		24		3		18		1,493		77		1,754

Combined
Satisfactory (1-4)		302,681		1,274,041		1,100,593		430,315		346,534		926,576		226,496		4,607,236
Watch (5)		—		3		21		6		328		7,780		200		8,338
Special Mention (6)		—		1,186		3,840		—		—		16,718		4,908		26,652
Classified (7-9)		—		42		559		175		—		17,953		393		19,122
Total	$	302,681	$	1,275,272	$	1,105,013	$	430,496	$	346,862	$	969,027	$	231,997	$	4,661,348
Current Period Gross Charge Offs	$	4	$	142	$	24	$	3	$	18	$	2,534	$	97	$	2,822