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Allowance for Credit Losses on Loans (“ACL”) (Tables)

6 Months Ended

Jun. 30, 2021

Credit Loss [Abstract]

Schedule of Allowance for Credit Losses for Off-Balance Sheet credit Exposures

The table below summarizes the allowance for credit losses for off-balance sheet credit exposures (in thousands):

			Three Months Ended June 30, 2021						Six Months Ended June 30, 2021
Balance at beginning of period			$	1,702					$	808
Impact of CECL adoption			—						737
Balance at beginning of period			1,702						1,545
Provision for credit losses			106						263
Balance at end of period			$	1,808					$	1,808

Allowance For Loan Losses And Loans Receivable By Portfolio Segment Table

The following tables set forth activity in our allowance for credit losses on loans, by loan type, as of, and for the three and six months ended June 30, 2021, and June 30, 2020 (in thousands):

			Three Months Ended June 30, 2021
			Real Estate
			Commercial (1)						One-to-Four Family						Construction and Land												Home Equity and Lines of Credit						Commercial and Industrial						Other									Total Loans (excluding PCD)						PCD												Total
Allowance for loan losses:
Beginning balance			$	28,882					$	5,172					$	269											$	643					$	2,940					$	9								$	37,915					$	5,282											$	43,197
Charge-offs			—						—						—												—						(12)						—									(12)						—												(12)
Recoveries			—						1						—												1						7						—									9						—												9
Provisions (credit)			(2,342)						(563)						(10)												19						(341)						(2)									(3,239)						(462)												(3,701)
Ending balance			$	26,540					$	4,610					$	259											$	663					$	2,594					$	7								$	34,673					$	4,820											$	39,493

(1) Commercial includes commercial real estate loans collateralized by owner-occupied, non-owner occupied, and multifamily properties.

			Three Months Ended June 30, 2020
			Real Estate
			Commercial						One-to-Four Family						Construction and Land						Multifamily						Home Equity and Lines of Credit						Commercial and Industrial						Other												Total Loans (excluding PCI)						PCI												Total
Allowance for loan losses:
Beginning balance			$	5,444					$	312					$	671					$	26,889					$	574					$	2,035					$	86											$	36,011					$	789											$	36,800
Charge-offs			(164)						—						—						—						—						(57)						—												(221)						—												(221)
Recoveries			13						2						—						—						—						3						2												20						—												20
Provisions (credit)			1,406						(42)						266						354						(16)						(135)						88												1,921						—												1,921
Ending balance			$	6,699					$	272					$	937					$	27,243					$	558					$	1,846					$	176											$	37,731					$	789											$	38,520

			Six Months Ended June 30, 2021
			Real Estate
			Commercial (1)						One-to-Four Family						Construction and Land												Home Equity and Lines of Credit						Commercial and Industrial						Other												Total Loans (excluding PCD)						PCD												Total
Beginning balance			$	33,005					$	207					$	1,214											$	260					$	1,842					$	198											$	36,726					$	881											$	37,607
Impact of CECL adoption			(1,949)						5,233						(921)												419						947						(188)												3,541						6,812												10,353
Balance at January 1, 2021			31,056						5,440						293												679						2,789						10												40,267						7,693												47,960
Charge-offs			—						(21)						—												—						(12)						—												(33)						(2,411)												(2,444)
Recoveries			19						2						—												1						28						2												52						—												52
Provisions (credit)			(4,535)						(811)						(34)												(17)						(211)						(5)												(5,613)						(462)												(6,075)
Ending balance			$	26,540					$	4,610					$	259											$	663					$	2,594					$	7											$	34,673					$	4,820											$	39,493

(1) Commercial includes commercial real estate loans collateralized by owner-occupied, non-owner occupied, and multifamily properties.

			Six Months Ended June 30, 2020
			Real Estate
			Commercial						One-to-Four Family						Construction and Land						Multifamily						Home Equity and Lines of Credit						Commercial and Industrial						Other												Total Loans (excluding PCI)						PCI												Total
Allowance for loan losses:
Beginning balance			$	4,891					$	180					$	536					$	20,203					$	317					$	1,640					$	151											$	27,918					$	789											$	28,707
Charge-offs			(597)						—						—						—						—						(94)						—												(691)						—												(691)
Recoveries			388						2						—						—						1						9						—												400						—												400
Provisions (credit)			2,017						90						401						7,040						240						291						25												10,104						—												10,104
Ending balance			$	6,699					$	272					$	937					$	27,243					$	558					$	1,846					$	176											$	37,731					$	789											$	38,520

The following tables detail the amount of loans receivable held-for-investment, net of deferred loan fees and costs, that are evaluated, individually and collectively, for impairment, and the related portion of the allowance for loan losses that is allocated to each loan portfolio segment, at June 30, 2021 and December 31, 2020 (in thousands):

			June 30, 2021
			Real Estate
			Commercial (1)						One-to-Four Family						Construction and Land												Home Equity and Lines of Credit						Commercial and Industrial						Other									Total Loans (excluding PCD)						PCD												Total
Allowance for credit losses on loans:
Ending balance: individually evaluated for impairment			$	61					$	4					$	—											$	2					$	1					$	—								$	68					$	—											$	68
Ending balance: collectively evaluated for impairment			26,479						4,606						259												661						2,593						7									34,605						4,820												39,425
Loans, net:
Ending balance			3,231,916						193,976						63,125												99,814						209,580						2,170									3,800,581						16,692												3,817,273
Ending balance: individually evaluated for impairment			9,716						1,610						1,107												43						14						—									12,490						—												12,490
Ending balance: collectively evaluated for impairment			3,222,200						192,366						62,018												99,771						76,858						2,170									3,655,383						16,692												3,672,075
PPP loans not evaluated for impairment (2)			—						—						—												—						132,708						—									132,708						—												132,708

			December 31, 2020
			Real Estate
			Commercial						One-to-Four Family						Construction and Land						Multifamily						Home Equity and Lines of Credit						Commercial and Industrial						Other									Total Loans (excluding PCI)						PCI												Total
Allowance for credit losses on loans:
Ending balance: individually evaluated for impairment			$	66					$	—					$	—					$	—					$	3					$	4					$	—								$	73					$	—											$	73
Ending balance: collectively evaluated for impairment			5,944						207						1,214						26,995						257						1,838						198									36,653						881												37,534
Loans, net:
Ending balance			717,566						212,222						74,351						2,512,934						93,137						191,481						3,029									3,804,720						18,518												3,823,238
Ending balance: individually evaluated for impairment			10,650						1,903						—						626						47						16						—									13,242						—												13,242
Ending balance: collectively evaluated for impairment			706,916						210,319						74,351						2,512,308						93,090						64,930						3,029									3,664,943						18,518												3,683,461
PPP loans not evaluated for impairment (2)			—						—						—						—						—						126,535						—									126,535						—												126,535

(1) Commercial includes commercial real estate loans collateralized by owner-occupied, non-owner occupied, and multifamily properties.

(2) PPP loans are guaranteed by the SBA and therefore excluded from the allowance for loan losses.

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- Definition

Schedule Of Off-Balance Sheet, Credit Loss, Liability

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Tabular disclosure of allowance for credit loss on financing receivable.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 11B
-URI http://asc.fasb.org/extlink&oid=123577603&loc=SL6953423-111524

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 20
-Section 50
-Paragraph 13
-URI http://asc.fasb.org/extlink&oid=124255953&loc=SL82919249-210447

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