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LOANS AND LEASES (Tables)

6 Months Ended

Jun. 30, 2019

Receivables [Abstract]

Schedule of composition of loans categorized by the type of loan

Loans outstanding, excluding those held for sale, by general ledger classification, as of June 30, 2019 and December 31, 2018, consisted of the following:

						% of								% of
		June 30,				Totals				December 31,				Total
(Dollars in thousands)		2019				Loans				2018				Loans
Residential mortgage		$	570,583				14.16	%		$	571,570				14.55	%
Multifamily mortgage			1,129,476				28.03				1,135,805				28.92
Commercial mortgage			694,674				17.24				702,165				17.88
Commercial loans (including equipment financing)			1,517,665				37.67				1,397,057				35.57
Home equity lines of credit			62,522				1.55				62,191				1.58
Consumer loans, including fixed rate home equity loans			53,995				1.34				58,678				1.49
Other loans			424				0.01				465				0.01
Total loans		$	4,029,339				100.00	%		$	3,927,931				100.00	%

In determining an appropriate amount for the allowance, the Bank segments and evaluates the loan portfolio based on federal Call Report codes.  The following portfolio classes have been identified as of June 30, 2019 and December 31, 2018:

						% of								% of
		June 30,				Totals				December 31,				Total
(Dollars in thousands)		2019				Loans				2018				Loans
Primary residential mortgage		$	599,450				14.89	%		$	600,891				15.31	%
Home equity lines of credit			62,522				1.55				62,191				1.58
Junior lien loan on residence			7,397				0.18				7,418				0.19
Multifamily property			1,129,476				28.06				1,135,805				28.94
Owner-occupied commercial real estate			249,421				6.20				261,193				6.65
Investment commercial real estate			1,017,505				25.28				1,001,918				25.53
Commercial and industrial			717,851				17.83				616,838				15.72
Lease financing			184,182				4.58				172,643				4.40
Farmland/agricultural production			143				—				149				0.01
Commercial construction loans			125				—				86				0.01
Consumer and other loans			57,415				1.43				65,180				1.66
Total loans		$	4,025,487				100.00	%		$	3,924,312				100.00	%
Net deferred costs			3,852								3,619
Total loans including net deferred costs		$	4,029,339							$	3,927,931

Schedule of loan balances by portfolio segment, based on impairment method, and the corresponding balances in the allowance for loan losses

The following tables present the loan balances by portfolio class, based on impairment method, and the corresponding balances in the allowance for loan and lease losses (ALLL) as of June 30, 2019 and December 31, 2018:

		June 30, 2019
		Total				Ending ALLL				Total				Ending ALLL
		Loans				Attributable				Loans				Attributable
		Individually				To Loans				Collectively				To Loans
		Evaluated				Individually				Evaluated				Collectively								Total
		For				Evaluated for				For				Evaluated for				Total				Ending
(In thousands)		Impairment				Impairment				Impairment				Impairment				Loans				ALLL
Primary residential mortgage		$	8,791			$	248			$	590,659			$	2,809			$	599,450			$	3,057
Home equity lines of credit			22				—				62,500				155				62,522				155
Junior lien loan on residence			29				—				7,368				15				7,397				15
Multifamily property			—				—				1,129,476				5,744				1,129,476				5,744
Owner-occupied commercial real estate			1,451				—				247,970				2,497				249,421				2,497
Investment commercial real estate			18,091				—				999,414				14,650				1,017,505				14,650
Commercial and industrial			6,557				1,000				711,294				10,463				717,851				11,463
Lease financing			—				—				184,182				1,888				184,182				1,888
Farmland/agricultural production			—				—				143				2				143				2
Commercial construction loans			—				—				125				1				125				1
Consumer and other loans			—				—				57,415				319				57,415				319
Total ALLL		$	34,941			$	1,248			$	3,990,546			$	38,543			$	4,025,487			$	39,791

		December 31, 2018
		Total				Ending ALLL				Total				Ending ALLL
		Loans				Attributable				Loans				Attributable
		Individually				To Loans				Collectively				To Loans
		Evaluated				Individually				Evaluated				Collectively								Total
		For				Evaluated for				For				Evaluated for				Total				Ending
(In thousands)		Impairment				Impairment				Impairment				Impairment				Loans				ALLL
Primary residential mortgage		$	9,518			$	262			$	591,373			$	3,244			$	600,891			$	3,506
Home equity lines of credit			255				—				61,936				164				62,191				164
Junior lien loan on residence			36				—				7,382				15				7,418				15
Multifamily property			1,262				—				1,134,543				5,959				1,135,805				5,959
Owner-occupied commercial real estate			1,574				—				259,619				2,614				261,193				2,614
Investment commercial real estate			18,655				—				983,263				14,248				1,001,918				14,248
Commercial and industrial			—				—				616,838				9,839				616,838				9,839
Lease financing			—				—				172,643				1,772				172,643				1,772
Farmland/agricultural production			—				—				149				2				149				2
Commercial construction loans			—				—				86				1				86				1
Consumer and other loans			—				—				65,180				384				65,180				384
Total ALLL		$	31,300			$	262			$	3,893,012			$	38,242			$	3,924,312			$	38,504

Schedule of loans individually evaluated for impairment

The following tables present loans individually evaluated for impairment by class of loans as of June 30, 2019 and December 31, 2018 (The average impaired loans on the following tables represent year to date impaired loans.):

		June 30, 2019
		Unpaid												Average
		Principal				Recorded				Specific				Impaired
(In thousands)		Balance				Investment				Reserves				Loans
With no related allowance recorded:
Primary residential mortgage		$	9,111			$	7,797			$	—			$	8,002
Owner-occupied commercial real estate			2,684				1,451				—				1,593
Investment commercial real estate			20,041				18,091				—				16,829
Home equity lines of credit			25				22				—				151
Junior lien loan on residence			98				29				—				34
Total loans with no related allowance		$	31,959			$	27,390			$	—			$	26,609
With related allowance recorded:
Primary residential mortgage		$	994			$	994			$	248			$	1,047
Commercial and industrial			6,557				6,557				1,000				1,093
Total loans with related allowance		$	7,551			$	7,551			$	1,248			$	2,140
Total loans individually evaluated for Impairment		$	39,510			$	34,941			$	1,248			$	28,749

		December 31, 2018
		Unpaid												Average
		Principal				Recorded				Specific				Impaired
(In thousands)		Balance				Investment				Reserves				Loans
With no related allowance recorded:
Primary residential mortgage		$	9,789			$	8,502			$	—			$	8,042
Owner-occupied commercial real estate			2,741				1,574				—				2,025
Investment commercial real estate			20,179				18,655				—				13,999
Home equity lines of credit			257				255				—				123
Junior lien loan on residence			102				36				—				45
Multifamily property			1,262				1,262				—				105
Total loans with no related allowance		$	34,330			$	30,284			$	—			$	24,339
With related allowance recorded:
Primary residential mortgage		$	1,016			$	1,016			$	262			$	1,144
Total loans with related allowance		$	1,016			$	1,016			$	262			$	1,144
Total loans individually evaluated for impairment		$	35,346			$	31,300			$	262			$	25,483

Schedule of recorded investment in nonaccrual and loans past due over 90 days still on accrual

The following tables present the recorded investment in nonaccrual and loans past due over 90 days still on accrual by class of loans as of June 30, 2019 and December 31, 2018:

		June 30, 2019
						Loans Past Due
						Over 90 Days
						And Still
(In thousands)		Nonaccrual				Accruing Interest
Primary residential mortgage		$	5,019			$	—
Home equity lines of credit			3				—
Junior lien loan on residence			29				—
Owner-occupied commercial real estate			1,451				—
Investment commercial real estate			18,091				—
Commercial and industrial			6,557				—
Total		$	31,150			$	—

		December 31, 2018
						Loans Past Due
						Over 90 Days
						And Still
(In thousands)		Nonaccrual				Accruing Interest
Primary residential mortgage		$	5,215			$	—
Home equity lines of credit			235				—
Junior lien loan on residence			36				—
Owner-occupied commercial real estate			1,574				—
Investment commercial real estate			18,655				—
Total		$	25,715			$	—

Schedule of aging of past due loans

The following tables present the aging of the recorded investment in past due loans as of June 30, 2019 and December 31, 2018 by class of loans, excluding nonaccrual loans:

		June 30, 2019
		30-59				60-89				Greater Than
		Days				Days				90 Days				Total
(In thousands)		Past Due				Past Due				Past Due				Past Due
Primary residential mortgage		$	—			$	105			$	—			$	105
Owner-occupied commercial real estate			—				242				—				242
Commercial construction loans			85				—				—				85
Total		$	85			$	347			$	—			$	432

		December 31, 2018
		30-59				60-89				Greater Than
		Days				Days				90 Days				Total
(In thousands)		Past Due				Past Due				Past Due				Past Due
Primary residential mortgage		$	606			$	491			$	—			$	1,097
Consumer and other loans			2				—				—				2
Total		$	608			$	491			$	—			$	1,099

Schedule of the risk category of loans by class of loans

As of June 30, 2019, and based on the most recent analysis performed, the risk category of loans by class of loans is as follows:

						Special
(In thousands)		Pass				Mention				Substandard				Doubtful
Primary residential mortgage		$	589,731			$	870			$	8,849			$	—
Home equity lines of credit			62,500				—				22				—
Junior lien loan on residence			7,368				—				29				—
Multifamily property			1,127,545				1,586				345				—
Owner-occupied commercial real estate			242,929				-				6,492				—
Investment commercial real estate			966,813				18,024				32,668				—
Commercial and industrial			701,916				8,205				7,730				—
Lease financing			184,182				—				—				—
Farmland/agricultural production			143				—				—				—
Commercial construction loans			39				86				—				—
Consumer and other loans			57,415				—				—				—
Total		$	3,940,581			$	28,771			$	56,135			$	—

As of December 31, 2018, and based on the most recent analysis performed, the risk category of loans by class of loans is as follows:

						Special
(In thousands)		Pass				Mention				Substandard				Doubtful
Primary residential mortgage		$	590,372			$	943			$	9,576			$	—
Home equity lines of credit			61,936				—				255				—
Junior lien loan on residence			7,382				—				36				—
Multifamily property			1,130,926				3,263				1,616				—
Owner-occupied commercial real estate			255,417				249				5,527				—
Investment commercial real estate			948,300				20,756				32,862				—
Commercial and industrial			608,262				417				8,159				—
Lease financing			172,643				—				—				—
Farmland/agricultural production			149				—				—				—
Commercial construction loans			—				86				—				—
Consumer and other loans			64,946				—				234				—
Total		$	3,840,333			$	25,714			$	58,265			$	—

Schedule of Activity in Allowance for Loan and Lease Losses

The activity in the allowance for loan and lease losses for the three months ended June 30, 2019 is summarized below:

		April 1,																June 30,
		2019																2019
		Beginning												Provision				Ending
(In thousands)		ALLL				Charge-offs				Recoveries				(Credit)				ALLL
Primary residential mortgage		$	3,477			$	(80	)		$	9			$	(349	)		$	3,057
Home equity lines of credit			152				—				3				—				155
Junior lien loan on residence			15				—				—				—				15
Multifamily property			5,768				—				—				(24	)			5,744
Owner-occupied commercial real estate			2,534				—				64				(101	)			2,497
Investment commercial real estate			14,410				—				—				240				14,650
Commercial and industrial			10,185				—				5				1,273				11,463
Lease financing			1,803				—				—				85				1,888
Farmland/agricultural production			2				—				—				—				2
Commercial construction loans			1				—				—				—				1
Consumer and other loans			306				(14	)			1				26				319
Total ALLL		$	38,653			$	(94	)		$	82			$	1,150			$	39,791

The activity in the allowance for loan and lease losses for the three months ended June 30, 2018 is summarized below:

		April 1,																June 30,
		2018																2018
		Beginning												Provision				Ending
(In thousands)		ALLL				Charge-offs				Recoveries				(Credit)				ALLL
Primary residential mortgage		$	4,403			$	—			$	139			$	(160	)		$	4,382
Home equity lines of credit			192				—				2				(4	)			190
Junior lien loan on residence			16				—				46				(45	)			17
Multifamily property			9,140				—				—				(881	)			8,259
Owner-occupied commercial real estate			2,364				(64	)			—				225				2,525
Investment commercial real estate			12,367				—				—				1,292				13,659
Commercial and industrial			7,753				(46	)			6				(357	)			7,356
Lease financing			1,036				—				—				275				1,311
Farmland/agricultural production			2				—				—				—				2
Commercial construction loans			1				—				—				—				1
Consumer and other loans			422				(14	)			1				(45	)			364
Total ALLL		$	37,696			$	(124	)		$	194			$	300			$	38,066

The activity in the allowance for loan and lease losses for the six months ended June 30, 2019 is summarized below:

		January 1,																June 30,
		2019																2019
		Beginning												Provision				Ending
(In thousands)		ALLL				Charge-offs				Recoveries				(Credit)				ALLL
Primary residential mortgage		$	3,506			$	(80	)		$	51			$	(420	)		$	3,057
Home equity lines of credit			164				—				5				(14	)			155
Junior lien loan on residence			15				—				11				(11	)			15
Multifamily property			5,959				—				—				(215	)			5,744
Owner-occupied commercial real estate			2,614				—				64				(181	)			2,497
Investment commercial real estate			14,248				—				—				402				14,650
Commercial and industrial			9,839				—				9				1,615				11,463
Lease financing			1,772				—				—				116				1,888
Farmland/agricultural production			2				—				—				—				2
Commercial construction loans			1				—				—				—				1
Consumer and other loans			384				(25	)			2				(42	)			319
Total ALLL		$	38,504			$	(105	)		$	142			$	1,250			$	39,791

The activity in the allowance for loan and lease losses for the six months ended June 30, 2018 is summarized below:

		January 1,																June 30,
		2018																2018
		Beginning												Provision				Ending
(In thousands)		ALLL				Charge-offs				Recoveries				(Credit)				ALLL
Primary residential mortgage		$	4,085			$	(77	)		$	139			$	235			$	4,382
Home equity lines of credit			221				—				4				(35	)			190
Junior lien loan on residence			12				—				55				(50	)			17
Multifamily property			10,007				—				—				(1,748	)			8,259
Owner-occupied commercial real estate			2,385				(64	)			66				138				2,525
Investment commercial real estate			11,933				—				—				1,726				13,659
Commercial and industrial			6,563				(46	)			22				817				7,356
Lease financing			884				—				—				427				1,311
Farmland/agricultural production			—				—				—				2				2
Commercial construction loans			1				—				—				—				1
Consumer and other loans			349				(25	)			2				38				364
Total ALLL		$	36,440			$	(212	)		$	288			$	1,550			$	38,066

Schedule of loans modified as troubled debt restructurings

The following table presents loans by class modified as TDRs during the three-month period ended June 30, 2018:

						Pre-Modification				Post-Modification
						Outstanding				Outstanding
		Number of				Recorded				Recorded
(Dollars in thousands)		Contracts				Investment				Investment
Investment commercial real estate			1			$	15,351			$	15,351
Total			1			$	15,351			$	15,351

The following table presents loans by class modified as TDRs during the six-month period ended June 30, 2018:

						Pre-Modification				Post-Modification
						Outstanding				Outstanding
		Number of				Recorded				Recorded
(Dollars in thousands)		Contracts				Investment				Investment
Investment commercial real estate			1			$	15,351			$	15,351
Total			1			$	15,351			$	15,351

The following table presents loans by class modified as TDRs that failed to comply with the modified terms in the twelve months following modification and resulted in a payment default at June 30, 2018:

		Number of				Recorded
(Dollars in thousands)		Contracts				Investment
Primary residential mortgage			1			$	336
Total			1			$	336

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X

- Definition

Tabular disclosure of financing receivables and troubled debt restructurings.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 33
-URI http://asc.fasb.org/extlink&oid=84173941&loc=SL6953676-111524

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=84173941&loc=SL6953682-111524

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