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LOANS AND LEASES (Tables)

3 Months Ended

Mar. 31, 2020

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 March 31, 2020 and December 31, 2019, consisted of the following:

						% of								% of
		March 31,				Totals				December 31,				Total
(Dollars in thousands)		2020				Loans				2019				Loans
Residential mortgage		$	528,210				11.98	%		$	549,138				12.50	%
Multifamily mortgage			1,203,487				27.30				1,210,003				27.54
Commercial mortgage			760,648				17.26				761,244				17.32
Commercial loans (including equipment financing)			1,803,158				40.90				1,756,477				39.97
Commercial construction			2,934				0.07				5,306				0.12
Home equity lines of credit			55,856				1.27				57,248				1.30
Consumer loans, including fixed rate home equity loans			53,365				1.21				54,372				1.24
Other loans			347				0.01				349				0.01
Total loans		$	4,408,005				100.00	%		$	4,394,137				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 March 31, 2020 and December 31, 2019:

						% of								% of
		March 31,				Totals				December 31,				Total
(Dollars in thousands)		2020				Loans				2019				Loans
Primary residential mortgage		$	557,053				12.65	%		$	578,306				13.17	%
Home equity lines of credit			55,856				1.27				57,248				1.30
Junior lien loan on residence			6,817				0.16				7,011				0.16
Multifamily property			1,203,487				27.33				1,210,003				27.56
Owner-occupied commercial real estate			251,293				5.71				249,419				5.68
Investment commercial real estate			1,092,294				24.81				1,095,182				24.95
Commercial and industrial			904,949				20.55				867,295				19.76
Lease financing			268,436				6.10				258,401				5.89
Farmland/agricultural production			2,725				0.06				3,043				0.07
Commercial construction loans			3,137				0.07				5,520				0.13
Consumer and other loans			56,998				1.29				58,213				1.33
Total loans		$	4,403,045				100.00	%		$	4,389,641				100.00	%
Net deferred costs			4,960								4,496
Total loans including net deferred costs		$	4,408,005							$	4,394,137

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 March 31, 2020 and December 31, 2019:

		March 31, 2020
		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		$	7,098			$	58			$	549,955			$	3,115			$	557,053			$	3,173
Home equity lines of credit			2				—				55,854				237				55,856				237
Junior lien loan on residence			15				—				6,802				23				6,817				23
Multifamily property			—				—				1,203,487				9,104				1,203,487				9,104
Owner-occupied commercial real estate			368				—				250,925				2,838				251,293				2,838
Investment commercial real estate			22,554				4,000				1,069,740				23,671				1,092,294				27,671
Commercial and industrial			6,332				2,284				898,617				14,840				904,949				17,124
Lease financing			—				—				268,436				3,141				268,436				3,141
Farmland/agricultural production			—				—				2,725				38				2,725				38
Commercial construction loans			—				—				3,137				40				3,137				40
Consumer and other loans			—				—				56,998				394				56,998				394
Total ALLL		$	36,369			$	6,342			$	4,366,676			$	57,441			$	4,403,045			$	63,783

		December 31, 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		$	6,890			$	215			$	571,416			$	1,875			$	578,306			$	2,090
Home equity lines of credit			3				—				57,245				128				57,248				128
Junior lien loan on residence			19				—				6,992				13				7,011				13
Multifamily property			—				—				1,210,003				6,037				1,210,003				6,037
Owner-occupied commercial real estate			379				—				249,040				2,064				249,419				2,064
Investment commercial real estate			22,605				1,000				1,072,577				14,988				1,095,182				15,988
Commercial and industrial			6,028				1,585				861,267				12,768				867,295				14,353
Lease financing			—				—				258,401				2,642				258,401				2,642
Farmland/agricultural production			—				—				3,043				38				3,043				38
Commercial construction loans			—				—				5,520				27				5,520				27
Consumer and other loans			—				—				58,213				296				58,213				296
Total ALLL		$	35,924			$	2,800			$	4,353,717			$	40,876			$	4,389,641			$	43,676

Schedule of loans individually evaluated for impairment

The following tables present loans individually evaluated for impairment by class of loans as of March 31, 2020 and December 31, 2019 (The average impaired loans on the following tables represent year to date impaired loans.):

		March 31, 2020
		Unpaid												Average
		Principal				Recorded				Specific				Impaired
(In thousands)		Balance				Investment				Reserves				Loans
With no related allowance recorded:
Primary residential mortgage		$	7,643			$	6,436			$	—			$	6,303
Owner-occupied commercial real estate			443				368				—				370
Investment commercial real estate			9,632				8,108				—				8,118
Home equity lines of credit			5				2				—				2
Junior lien loan on residence			90				15				—				18
Commercial and industrial			391				391				—				146
Total loans with no related allowance		$	18,204			$	15,320			$	—			$	14,957
With related allowance recorded:
Primary residential mortgage		$	662			$	662			$	58			$	664
Investment commercial real estate			15,064				14,446				4,000				14,453
Commercial and industrial			6,229				5,941				2,284				5,970
Total loans with related allowance		$	21,955			$	21,049			$	6,342			$	21,087
Total loans individually evaluated for impairment		$	40,159			$	36,369			$	6,342			$	36,044

		December 31, 2019
		Unpaid												Average
		Principal				Recorded				Specific				Impaired
(In thousands)		Balance				Investment				Reserves				Loans
With no related allowance recorded:
Primary residential mortgage		$	7,310			$	6,071			$	—			$	7,186
Owner-occupied commercial real estate			450				379				—				1,099
Investment commercial real estate			9,663				8,138				—				14,115
Home equity lines of credit			5				3				—				77
Junior lien loan on residence			92				19				—				29
Total loans with no related allowance		$	17,520			$	14,610			$	—			$	22,506
With related allowance recorded:
Primary residential mortgage		$	819			$	819			$	215			$	1,011
Investment commercial real estate			15,064				14,467				1,000				4,832
Commercial and industrial			6,229				6,028				1,585				3,685
Total loans with related allowance		$	22,112			$	21,314			$	2,800			$	9,528
Total loans individually evaluated for impairment		$	39,632			$	35,924			$	2,800			$	32,034

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 March 31, 2020 and December 31, 2019:

		March 31, 2020
						Loans Past Due
						Over 90 Days
						And Still
(In thousands)		Nonaccrual				Accruing Interest
Primary residential mortgage		$	4,757			$	—
Home equity lines of credit			2				—
Junior lien loan on residence			15				—
Owner-occupied commercial real estate			368				—
Investment commercial real estate			17,899				—
Commercial and industrial			6,283				—
Total		$	29,324			$	—

		December 31, 2019
						Loans Past Due
						Over 90 Days
						And Still
(In thousands)		Nonaccrual				Accruing Interest
Primary residential mortgage		$	4,533			$	—
Home equity lines of credit			3				—
Junior lien loan on residence			19				—
Owner-occupied commercial real estate			379				—
Investment commercial real estate			17,919				—
Commercial and industrial			6,028				—
Total		$	28,881			$	—

Schedule of aging of past due loans

The following tables present the aging of the recorded investment in past due loans as of March 31, 2020 and December 31, 2019 by class of loans, excluding nonaccrual loans:

		March 31, 2020
		30-59				60-89				Greater Than
		Days				Days				90 Days				Total
(In thousands)		Past Due				Past Due				Past Due				Past Due
Primary residential mortgage		$	2,509			$	—			$	—			$	2,509
Home equity lines of credit			226				—				—				226
Owner-occupied commercial real estate			75				—				—				75
Investment commercial real estate			3,515				—				—				3,515
Commercial and industrial			1,935				—				—				1,935
Consumer and other loans			1				—				—				1
Total		$	8,261			$	—			$	—			$	8,261

		December 31, 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		$	1,264			$	—			$	—			$	1,264
Home equity lines of credit			80				—				—				80
Consumer and other loans			566				—				—				566
Total		$	1,910			$	—			$	—			$	1,910

Schedule of the risk category of loans by class of loans

As of March 31, 2020, 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		$	548,902			$	844			$	7,307			$	—
Home equity lines of credit			55,854				—				2				—
Junior lien loan on residence			6,802				—				15				—
Multifamily property			1,202,783				—				704				—
Owner-occupied commercial real estate			249,459				—				1,834				—
Investment commercial real estate			1,050,812				6,288				35,194				—
Commercial and industrial			885,059				6,008				13,882				—
Lease financing			268,436				—				—				—
Farmland/agricultural production			2,725				—				—				—
Commercial construction loans			3,055				82				—				—
Consumer and other loans			56,998				—				—				—
Total		$	4,330,885			$	13,222			$	58,938			$	—

As of December 31, 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		$	570,353			$	853			$	7,100			$	—
Home equity lines of credit			57,245				—				3				—
Junior lien loan on residence			6,992				—				19				—
Multifamily property			1,209,288				—				715				—
Owner-occupied commercial real estate			247,388				—				2,031				—
Investment commercial real estate			1,053,445				6,325				35,412				—
Commercial and industrial			847,285				6,382				13,628				—
Lease financing			258,401				—				—				—
Farmland/agricultural production			3,043				—				—				—
Commercial construction loans			5,437				83				—				—
Consumer and other loans			58,213				—				—				—
Total		$	4,317,090			$	13,643			$	58,908			$	—

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 March 31, 2020 is summarized below:

		January 1,																March 31,
		2020																2020
		Beginning												Provision				Ending
(In thousands)		ALLL				Charge-offs				Recoveries				(Credit)				ALLL
Primary residential mortgage		$	2,090			$	—			$	77			$	1,006			$	3,173
Home equity lines of credit			128				—				3				106				237
Junior lien loan on residence			13				—				—				10				23
Multifamily property			6,037				—				—				3,067				9,104
Owner-occupied commercial real estate			2,064				—				—				774				2,838
Investment commercial real estate			15,988				—				31				11,652				27,671
Commercial and industrial			14,353				—				3				2,768				17,124
Lease financing			2,642				—				—				499				3,141
Farmland/agricultural production			38				—				—				—				38
Commercial construction loans			27				—				—				13				40
Consumer and other loans			296				(8	)			1				105				394
Total ALLL		$	43,676			$	(8	)		$	115			$	20,000			$	63,783

The activity in the allowance for loan and lease losses for the three months ended March 31, 2019 is summarized below:

		January 1,																March 31,
		2019																2019
		Beginning												Provision				Ending
(In thousands)		ALLL				Charge-offs				Recoveries				(Credit)				ALLL
Primary residential mortgage		$	3,506			$	—			$	42			$	(71	)		$	3,477
Home equity lines of credit			164				—				2				(14	)			152
Junior lien loan on residence			15				—				11				(11	)			15
Multifamily property			5,959				—				—				(191	)			5,768
Owner-occupied commercial real estate			2,614				—				—				(80	)			2,534
Investment commercial real estate			14,248				—				—				162				14,410
Commercial and industrial			9,839				—				4				342				10,185
Lease financing			1,772				—				—				31				1,803
Farmland/agricultural production			2				—				—				—				2
Commercial construction loans			1				—				—				—				1
Consumer and other loans			384				(11	)			1				(68	)			306
Total ALLL		$	38,504			$	(11	)		$	60			$	100			$	38,653

Schedule of loans modified as troubled debt restructurings

The following table presents loans by class modified as TDRs during the three-month period ended March 31, 2020:

						Pre-Modification				Post-Modification
						Outstanding				Outstanding
		Number of				Recorded				Recorded
(Dollars in thousands)		Contracts				Investment				Investment
Primary residential mortgage			1			$	253			$	253
Commercial and industrial			1				48				48
Total			2			$	301			$	301

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 March 31, 2020:

		Number of				Recorded
(Dollars in thousands)		Contracts				Investment
Primary residential mortgage			1			$	200
Total			1			$	200

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 March 31, 2019:

		Number of				Recorded
(Dollars in thousands)		Contracts				Investment
Investment commercial real estate			1			$	14,841
Total			1			$	14,841

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