XML 47 R36.htm IDEA: XBRL DOCUMENT v3.22.0.1
Loans (Tables)
 12 Months Ended
Dec. 31, 2021
Receivables [Abstract]  
Net Loans Held-For-Investment
The following table summarizes the Company's loans held-for-investment, net, (in thousands): 
 December 31,
 20212020
Real estate loans: 
Multifamily$2,518,065 $2,509,310 
Commercial mortgage808,597 716,973 
One-to-four family residential mortgage183,665 210,817 
Home equity and lines of credit109,956 91,126 
Construction and land27,495 74,318 
Total real estate loans3,647,778 3,602,544 
Commercial and industrial loans (1)
141,005 194,352 
Other loans2,015 3,029 
Total commercial and industrial and other loans143,020 197,381 
Deferred origination loan fees, net (2)
— 4,795 
Loans held-for-investment, net (excluding PCD/PCI)3,790,798 3,804,720 
PCD/PCI Loans15,819 18,518 
Total loans held-for-investment, net3,806,617 3,823,238 
Allowance for credit losses(38,973)(37,607)
Net loans held-for-investment$3,767,644 $3,785,631 
(1) Included in commercial and industrial loans at December 31, 2021 and 2020 are PPP loans totaling $40.5 million and $126.5 million, respectively.
(2) Under CECL, origination deferred fees, deferred fees on acquired loans, and purchase accounting adjustments in connection with loans acquired are included in loans by respective portfolio.
Investment Of Originated Loans Held-For-Investment, Net Of Deferred Fees And Costs, By Loan Type And Credit Quality Indicator
The following table presents the Company’s loans held-for-investment, excluding PCD loans, by loan class, credit risk ratings and year of origination, at December 31, 2021 (in thousands):

 December 31, 2021
 20212020201920182017PriorRevolving LoansTotal
Real Estate:   
Multifamily   
Pass$723,029 $525,078 $322,067 $238,692 $231,647 $461,834 $184 $2,502,531 
Special mention— — — — — 425 — 425 
Substandard— — 1,724 5,401 — 7,984 — 15,109 
Total multifamily723,029 525,078 323,791 244,093 231,647 470,243 184 2,518,065 
Commercial   
Pass153,803 72,718 97,228 99,165 65,750 274,195 2,589 765,448 
Special mention— — 505 — 1,095 8,559 — 10,159 
Substandard10,881 — 7,866 — 2,854 11,389 — 32,990 
Total commercial164,684 72,718 105,599 99,165 69,699 294,143 2,589 808,597 
One-to-four family residential   
Pass12,095 9,040 11,244 13,299 10,232 120,693 1,004 177,607 
Special mention— — 467 — — 2,336 — 2,803 
Substandard— — 517 — — 2,738 — 3,255 
Total one-to-four family residential12,095 9,040 12,228 13,299 10,232 125,767 1,004 183,665 
Home equity and lines of credit
Pass18,449 12,244 7,347 6,031 2,592 11,162 51,494 109,319 
Special mention— — — — — 103 — 103 
Substandard— — 96 50 — 388 — 534 
Total home equity and lines of credit18,449 12,244 7,443 6,081 2,592 11,653 51,494 109,956 
Construction and land
Pass9,883 5,755 2,039 4,062 1,809 3,467 480 27,495 
Total construction and land9,883 5,755 2,039 4,062 1,809 3,467 480 27,495 
Total real estate loans928,140 624,835 451,100 366,700 315,979 905,273 55,751 3,647,778 
Commercial and industrial
Pass45,426 10,087 4,378 2,316 640 9,298 61,728 133,873 
Special mention— — 166 — 132 224 50 572 
Substandard— 361 154 595 — 726 4,724 6,560 
Total commercial and industrial45,426 10,448 4,698 2,911 772 10,248 66,502 141,005 
Other
Pass1,715 156 19 26 — 49 50 2,015 
Total other1,715 156 19 26 — 49 50 2,015 
Total loans held-for-investment, net$975,281 $635,439 $455,817 $369,637 $316,751 $915,570 $122,303 $3,790,798 
The following table details the recorded investment of loans held-for-investment, excluding PCI loans, net of deferred fees and costs, by loan type and credit quality indicator at December 31, 2020 (in thousands):

 December 31, 2020
 Real Estate   
 MultifamilyCommercialOne-to-Four FamilyHome Equity and Lines of CreditConstruction and LandCommercial and IndustrialOtherTotal
Internal Risk Rating        
Pass$2,497,556 $667,568 $207,633 $92,385 $74,351 $189,372 $3,026 $3,731,891 
Special Mention458 20,422 2,456 311 — 498 — 24,145 
Substandard14,920 29,576 2,133 441 — 1,611 3 48,684 
Total loans held-for-investment, net$2,512,934 $717,566 $212,222 $93,137 $74,351 $191,481 $3,029 $3,804,720 
Estimated Expected Future Cash Flows Of Each PCI Loan Pool
The following tables set forth the detail, and delinquency status, of non-performing loans (non-accrual loans and loans past due 90 days or more and still accruing), net of deferred fees and costs, at December 31, 2021, and December 31, 2020, excluding PCD/PCI loans (in thousands):

 December 31, 2021
 Total Non-Performing Loans
 Non-Accruing Loans  
 Current30-89 Days Past Due90 Days or More Past DueTotal90 Days or More Past Due and AccruingTotal Non-Performing Loans
Loans held-for-investment:      
Real estate loans:      
Multifamily
Substandard$— $280 $1,602 $1,882 $— $1,882 
Total multifamily— 280 1,602 1,882 — 1,882 
Commercial      
Special Mention— — 280 280 — 280 
Substandard2,944 — 1,893 4,837 147 4,984 
Total commercial2,944 — 2,173 5,117 147 5,264 
One-to-four family residential      
Substandard— — 314 314 165 479 
Total one-to-four family residential— — 314 314 165 479 
Home equity and lines of credit      
Substandard— — 281 281 — 281 
Total home equity and lines of credit— — 281 281 — 281 
Total real estate 2,944 280 4,370 7,594 312 7,906 
Commercial and industrial loans      
Pass— — — — 72 72 
Substandard28 — — 28 — 28 
Total commercial and industrial loans28 — — 28 72 100 
Total non-performing loans $2,972 $280 $4,370 $7,622 $384 $8,006 
 December 31, 2020
 Total Non-Performing Loans
 Non-Accruing Loans  
 Current30-89 Days Past Due90 Days or More Past DueTotal90 Days or More Past Due and AccruingTotal Non-Performing Loans
Loans held-for-investment:      
Real estate loans:      
Multifamily
Substandard$— $— $1,153 $1,153 $— $1,153 
Total multifamily— — 1,153 1,153 — 1,153 
Commercial
Pass— — — — 500 500 
Substandard2,829 537 2,863 6,229 — 6,229 
Total commercial2,829 537 2,863 6,229 500 6,729 
One-to-four family residential
Substandard413 — 493 906 174 1,080 
Total one-to-four family residential413 — 493 906 174 1,080 
Home equity and lines of credit
Substandard60 — 131 191 — 191 
Total home equity and lines of credit60 — 131 191 — 191 
Total real estate3,302 537 4,640 8,479 674 9,153 
Commercial and industrial loans
Pass— — — — 101 101 
Special mention— — — — 85 85 
Substandard— — 37 37 250 287 
Total commercial and industrial loans— — 37 37 436 473 
Other loans
Pass— — — — 3 3 
Total other— — — — 3 3 
Total non-performing loans$3,302 $537 $4,677 $8,516 $1,113 $9,629 
Detail and Delinquency Status of Originated Loans Held-For-Investment, Net Of Deferred Fees and Costs, By Performing And Non-Performing Loans
The following tables set forth the detail and delinquency status of loans held-for-investment, excluding PCD/PCI loans, net of deferred fees and costs, at December 31, 2021 and December 31, 2020 (in thousands):

 December 31, 2021
 Past Due Loans 
 30-89 Days Past Due90 Days or More Past Due90 Days or More Past Due and AccruingTotal Past DueCurrentTotal Loans Receivable, net
Loans held-for-investment:  
Real estate loans:  
Multifamily
Pass$— $— $— $— $2,502,531 $2,502,531 
Special mention— — — — 425 425 
Substandard280 1,602 — 1,882 13,227 15,109 
Total multifamily280 1,602 — 1,882 2,516,183 2,518,065 
Commercial  
Pass77 — — 77 765,371 765,448 
Special mention67 280 — 347 9,812 10,159 
Substandard— 1,893 147 2,040 30,950 32,990 
Total commercial144 2,173 147 2,464 806,133 808,597 
One-to-four family residential
Pass206 — — 206 177,401 177,607 
Special mention387 — — 387 2,416 2,803 
Substandard— 314 165 479 2,776 3,255 
Total one-to-four family residential593 314 165 1,072 182,593 183,665 
Home equity and lines of credit
Pass316 — — 316 109,003 109,319 
Special mention— — — — 103 103 
Substandard96 281 — 377 157 534 
Total home equity and lines of credit412 281 — 693 109,263 109,956 
Construction and land
Pass— — — — 27,495 27,495 
Total construction and land— — — — 27,495 27,495 
Total real estate1,429 4,370 312 6,111 3,641,667 3,647,778 
Commercial and industrial
Pass2 — 72 74 133,799 133,873 
Special mention— — — — 572 572 
Substandard— — — — 6,560 6,560 
Total commercial and industrial 2 — 72 74 140,931 141,005 
Other loans
Pass15 — — 15 2,000 2,015 
Total other loans15 — — 15 2,000 2,015 
Total loans held-for-investment$1,446 $4,370 $384 $6,200 $3,784,598 $3,790,798 
 December 31, 2020
 Past Due Loans 
 30-89 Days Past Due90 Days or More Past Due90 Days or More Past Due and AccruingTotal Past DueCurrentTotal Loans Receivable, net
Loans held-for-investment:
Real estate loans:
Multifamily
Pass$1,283 $— $— $1,283 $2,496,273 $2,497,556 
Special mention— — — — 458 458 
Substandard610 1,153 — 1,763 13,157 14,920 
Total multifamily1,893 1,153 — 3,046 2,509,888 2,512,934 
Commercial
Pass6,072 — 500 6,572 660,996 667,568 
Special mention72 — — 72 20,350 20,422 
Substandard3,185 2,863 — 6,048 23,528 29,576 
Total commercial9,329 2,863 500 12,692 704,874 717,566 
One-to-four family residential
Pass282 — — 282 207,351 207,633 
Special mention870 — — 870 1,586 2,456 
Substandard— 493 174 667 1,466 2,133 
Total one-to-four family residential1,152 493 174 1,819 210,403 212,222 
Home equity and lines of credit
Pass80 — — 80 92,305 92,385 
Special mention200 — — 200 111 311 
Substandard100 131 — 231 210 441 
Total home equity and lines of credit380 131 — 511 92,626 93,137 
Construction and land
Pass994 — — 994 73,357 74,351 
Total construction and land994 — — 994 73,357 74,351 
Total real estate13,748 4,640 674 19,062 3,591,148 3,610,210 
Commercial and industrial
Pass632 — 101 733 188,639 189,372 
Special mention61 — 85 146 352 498 
Substandard67 37 250 354 1,257 1,611 
Total commercial and industrial760 37 436 1,233 190,248 191,481 
Other loans
Pass11 — 3 14 3,012 3,026 
Substandard— — — — 3 3 
Total other loans11 — 3 14 3,015 3,029 
Total loans held-for-investment$14,519 $4,677 $1,113 $20,309 $3,784,411 $3,804,720 
Financing Receivable, Nonaccrual
The following tables summarize information on non-accrual loans, excluding PCD loans, at December 31, 2021 (in thousands):

For the Year Ended December 31, 2021
December 31, 2021
Recorded InvestmentUnpaid Principal BalanceWith No Related AllowanceInterest Income
Real estate loans:
Multifamily$1,882 $1,891 $512 $70 
Commercial5,117 5,627 3,729 85 
One-to-four family residential314 346 — 10 
Home equity and lines of credit281 530 — 2 
Commercial and industrial28 349 — 8 
Total non-accrual loans$7,622 $8,743 $4,241 $175 
Summary of Impaired Loans
The following table summarizes impaired loans, excluding PCI loans, at December 31, 2020 (in thousands):

 December 31, 2020
 Recorded InvestmentUnpaid Principal BalanceRelated Allowance
With No Allowance Recorded:
Real estate loans:
Multifamily$626 $1,097 $— 
Commercial8,838 10,076 — 
One-to-four family residential1,903 2,032 — 
Home equity and lines of credit15 15 — 
Total real estate11,382 13,220 — 
With a Related Allowance Recorded:
Real estate loans:
Commercial1,812 2,244 (66)
Home equity and lines of credit32 32 (3)
Total real estate1,844 2,276 (69)
Commercial and industrial loans16 16 (4)
Total:
Real estate loans
Multifamily626 1,097 — 
Commercial10,650 12,320 (66)
One-to-four family residential1,903 2,032 — 
Home equity and lines of credit47 47 (3)
Commercial and industrial loans16 16 (4)
$13,242 $15,512 $(73)
The following table summarizes the average recorded investment in impaired loans, excluding PCI loans, and interest income recognized as of, and for, the year ended December 31, 2020 (in thousands):

For the Year Ended
 December 31, 2020
 Average Recorded InvestmentInterest Income
With No Allowance Recorded:
Real estate loans:
Multifamily$808 $50 
Commercial13,299 400 
One-to-four family residential2,134 94 
Home equity and lines of credit19 1 
Commercial and industrial loans30 — 
With a Related Allowance Recorded:
Real estate loans:
Commercial2,374 107 
One-to-four family residential104 — 
Home equity and lines of credit32 1 
Commercial and industrial loans17 1 
Total:
Real estate loans
Multifamily808 50 
Commercial15,673 507 
One-to-four family residential2,238 94 
Home equity and lines of credit51 2 
Commercial and industrial loans47 1 
 $18,817 $654 
Troubled Debt Restructurings on Financing Receivables
The following tables summarize loans that were modified in a TDR during the years ended December 31, 2021 and 2020:
Year Ended December 31, 2021
 Number of RelationshipsPre-Modification Outstanding Recorded Investment
Post-Modification Outstanding Recorded Investment(1)
 (Dollars in thousands)
Troubled Debt Restructurings   
Commercial and industrial2$96 $96 
Total Troubled Debt Restructurings2$96 $96 
(1) Amounts are at time of modification.
Year Ended December 31, 2020
Number of RelationshipsPre-Modification Outstanding Recorded Investment
Post-Modification Outstanding Recorded Investment(1)
(Dollars in thousands)
Troubled Debt Restructurings
Residential1$187 $187 
Commercial Real Estate2544 544 
Total Troubled Debt Restructurings3$731 $731 
(1) Amounts are at time of modification.