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Allowance for Credit Losses (“ACL”) on Loans (Tables) | 6 Months Ended
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Jun. 30, 2022
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, 2022 |  | Six Months Ended June 30, 2022
Balance at beginning of period | $ | 2,131 |  |  | $ | 1,852 |
Provision for credit losses | 349 |  |  | 628 |
Balance at end of period | $ | 2,480 |  |  | $ | 2,480 |
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, 2022, and June 30, 2021 (in thousands):
| Three Months Ended June 30, 2022
| Real Estate |  |  |  |  |  |  |  |  |  |  |  |  |
| Commercial (1) |  | One-to-Four Family |  | Home Equity and Lines of Credit |  |  |  | Construction and Land |  | Commercial and Industrial |  | Other |  |  | Total Loans (excluding PCD) |  | PCD |  |  |  | Total
Allowance for credit losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance | $ | 27,247 |  |  | $ | 3,589 |  |  | $ | 679 |  |  |  |  | $ | 166 |  |  | $ | 2,954 |  |  | $ | 9 |  |  |  | $ | 34,644 |  |  | $ | 4,630 |  |  |  |  | $ | 39,274 |
Charge-offs | — |  |  | — |  |  | — |  |  |  |  | — |  |  | — |  |  | — |  |  |  | — |  |  | (525) |  |  |  |  | (525) |
Recoveries | 19 |  |  | — |  |  | — |  |  |  |  | — |  |  | 114 |  |  | — |  |  |  | 133 |  |  | — |  |  |  |  | 133 |
Provisions (credit) | 799 |  |  | (584) |  |  | 123 |  |  |  |  | 119 |  |  | (363) |  |  | 2 |  |  |  | 96 |  |  | 53 |  |  |  |  | 149 |
Ending balance | $ | 28,065 |  |  | $ | 3,005 |  |  | $ | 802 |  |  |  |  | $ | 285 |  |  | $ | 2,705 |  |  | $ | 11 |  |  |  | $ | 34,873 |  |  | $ | 4,158 |  |  |  |  | $ | 39,031 |
| Three Months Ended June 30, 2021
| Real Estate |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Commercial (1) |  | One-to-Four Family |  | Home Equity and Lines of Credit |  | Construction and Land |  | Commercial and Industrial |  | Other |  |  |  | Total Loans (excluding PCD) |  | PCD |  |  |  | Total
Allowance for credit losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance | 28,882 |  |  | 5,172 |  |  | 643 |  |  | 269 |  |  | 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) |  |  | 19 |  |  | (10) |  |  | (341) |  |  | (2) |  |  |  |  | (3,239) |  |  | (462) |  |  |  |  | (3,701) |
Ending balance | $ | 26,540 |  |  | $ | 4,610 |  |  | $ | 663 |  |  | $ | 259 |  |  | $ | 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, 2022
| Real Estate |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Commercial (1) |  | One-to-Four Family |  | Home Equity and Lines of Credit |  |  |  | Construction and Land |  | Commercial and Industrial |  | Other |  |  |  | Total Loans (excluding PCD) |  | PCD |  |  |  | Total
Allowance for credit losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance | $ | 26,785 |  |  | $ | 3,545 |  |  | $ | 560 |  |  |  |  | $ | 169 |  |  | $ | 3,173 |  |  | $ | 9 |  |  |  |  | $ | 34,241 |  |  | $ | 4,732 |  |  |  |  | $ | 38,973 |
Charge-offs | — |  |  | — |  |  | — |  |  |  |  | — |  |  | (185) |  |  | — |  |  |  |  | (185) |  |  | (525) |  |  |  |  | (710) |
Recoveries | 97 |  |  | — |  |  | — |  |  |  |  | — |  |  | 119 |  |  | — |  |  |  |  | 216 |  |  | — |  |  |  |  | 216 |
Provisions (credit) | 1,183 |  |  | (540) |  |  | 242 |  |  |  |  | 116 |  |  | (402) |  |  | 2 |  |  |  |  | 601 |  |  | (49) |  |  |  |  | 552 |
Ending balance | $ | 28,065 |  |  | $ | 3,005 |  |  | $ | 802 |  |  |  |  | $ | 285 |  |  | $ | 2,705 |  |  | $ | 11 |  |  |  |  | $ | 34,873 |  |  | $ | 4,158 |  |  |  |  | $ | 39,031 |
| Six Months Ended June 30, 2021
| Real Estate |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Commercial (1) |  | One-to-Four Family |  | Home Equity and Lines of Credit |  |  | Construction and Land |  | Commercial and Industrial |  | Other |  |  |  | Total Loans (excluding PCD) |  | PCD |  |  |  | Total
Allowance for credit losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance | $ | 33,005 |  |  | $ | 207 |  |  | $ | 260 |  |  |  | $ | 1,214 |  |  | $ | 1,842 |  |  | $ | 198 |  |  |  |  | $ | 36,726 |  |  | $ | 881 |  |  |  |  | $ | 37,607 |
Impact of CECL adoption | (1,949) |  |  | 5,233 |  |  | 419 |  |  |  | (921) |  |  | 947 |  |  | (188) |  |  |  |  | 3,541 |  |  | 6,812 |  |  |  |  | 10,353 |
Balance at January 1, 2021 | 31,056 |  |  | 5,440 |  |  | 679 |  |  |  | 293 |  |  | 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) |  |  | (17) |  |  |  | (34) |  |  | (211) |  |  | (5) |  |  |  |  | (5,613) |  |  | (462) |  |  |  |  | (6,075) |
Ending balance | $ | 26,540 |  |  | $ | 4,610 |  |  | $ | 663 |  |  |  | $ | 259 |  |  | $ | 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. 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 credit losses that is allocated to each loan portfolio segment, at June 30, 2022 and December 31, 2021 (in thousands):
| June 30, 2022 |
| Real Estate |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Commercial (1) |  | One-to-Four Family |  | Home Equity and Lines of Credit |  |  |  | Construction and Land |  | Commercial and Industrial |  | Other |  |  | Total Loans (excluding PCD) |  | PCD |  |  |  | Total |
Allowance for credit losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Ending balance: individually evaluated for impairment | $ | 16 |  |  | $ | — |  |  | $ | 3 |  |  |  |  | $ | — |  |  | $ | 18 |  |  | $ | — |  |  |  | $ | 37 |  |  | $ | — |  |  |  |  | $ | 37 |  |
Ending balance: collectively evaluated for impairment | 28,048 |  |  | 3,005 |  |  | 800 |  |  |  |  | 285 |  |  | 2,687 |  |  | 11 |  |  |  | 34,836 |  |  | — |  |  |  |  | 34,836 |  |
Ending balance: PCD loans evaluated for impairment (2) | — |  |  | — |  |  | — |  |  |  |  | — |  |  | — |  |  | — |  |  |  | — |  |  | 4,158 |  |  |  |  | 4,158 |  |
Loans, net: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Ending balance | $ | 3,621,188 |  |  | $ | 185,376 |  |  | $ | 137,868 |  |  |  |  | $ | 18,555 |  |  | $ | 133,422 |  |  | $ | 2,312 |  |  |  | $ | 4,098,721 |  |  | $ | 13,136 |  |  |  |  | $ | 4,111,857 |  |
Ending balance: individually evaluated for impairment | 8,679 |  |  | 692 |  |  | 28 |  |  |  |  | — |  |  | 99 |  |  |  |  |  | 9,498 |  |  | — |  |  |  |  | 9,498 |  |
Ending balance: collectively evaluated for impairment | 3,612,509 |  |  | 184,684 |  |  | 137,840 |  |  |  |  | 18,555 |  |  | 121,374 |  |  | 2,312 |  |  |  | 4,077,274 |  |  | — |  |  |  |  | 4,077,274 |  |
Ending balance: PCD loans evaluated for impairment (2) | — |  |  | — |  |  | — |  |  |  |  | — |  |  | — |  |  | — |  |  |  | — |  |  | 13,136 |  |  |  |  | 13,136 |  |
PPP loans not evaluated for impairment (3) | — |  |  | — |  |  | — |  |  |  |  | — |  |  | 11,949 |  |  | — |  |  |  | 11,949 |  |  | — |  |  |  |  | 11,949 |  |
| December 31, 2021
| Real Estate |  |  |  |  |  |  |  |  |  |  |  |  |
| Commercial (1) |  | One-to-Four Family |  | Home Equity and Lines of Credit |  | Construction and Land |  | Commercial and Industrial |  | Other |  |  | Total Loans (excluding PCD) |  | PCD |  |  |  | Total
Allowance for credit losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Ending balance: individually evaluated for impairment | $ | 25 |  |  | $ | 2 |  |  | $ | 2 |  |  | $ | — |  |  | $ | 1 |  |  | $ | — |  |  |  | $ | 30 |  |  | $ | — |  |  |  |  | $ | 30 |
Ending balance: collectively evaluated for impairment | 26,760 |  |  | 3,543 |  |  | 558 |  |  | 169 |  |  | 3,172 |  |  | 9 |  |  |  | 34,211 |  |  | — |  |  |  |  | 34,211 |
Ending balance: PCD loans evaluated for impairment (2) | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  | — |  |  | 4,732 |  |  |  |  | 4,732 |
Loans, net: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Ending balance | $ | 3,326,662 |  |  | $ | 183,665 |  |  | $ | 109,956 |  |  | $ | 27,495 |  |  | $ | 141,005 |  |  | $ | 2,015 |  |  |  | $ | 3,790,798 |  |  | $ | 15,819 |  |  |  |  | $ | 3,806,617 |
Ending balance: individually evaluated for impairment | 8,352 |  |  | 1,562 |  |  | 38 |  |  | — |  |  | 34 |  |  | — |  |  |  | 9,986 |  |  | — |  |  |  |  | 9,986 |
Ending balance: collectively evaluated for impairment | 3,318,310 |  |  | 182,103 |  |  | 109,918 |  |  | 27,495 |  |  | 100,454 |  |  | 2,015 |  |  |  | 3,740,295 |  |  | — |  |  |  |  | 3,740,295 |
Ending balance: PCD loans evaluated for impairment (2) | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  | — |  |  | 15,819 |  |  |  |  | 15,819 |
PPP loans not evaluated for impairment (3) | — |  |  | — |  |  | — |  |  | — |  |  | 40,517 |  |  | — |  |  |  | 40,517 |  |  | — |  |  |  |  | 40,517 |
(1) Commercial includes commercial real estate loans collateralized by owner-occupied, non-owner occupied, and multifamily properties. (2) Upon adoption of CECL, the Company elected to maintain pools of PCD loans that were previously accounted for under ASC 310-30, and will continue to evaluate PCD loans under this guidance. (3) PPP loans are guaranteed by the SBA and therefore excluded from the allowance for credit losses.

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