XML 47 R35.htm IDEA: XBRL DOCUMENT v3.22.0.1

LOANS (Tables)

12 Months Ended

Dec. 31, 2021

Receivables [Abstract]

Schedule of composition of loans categorized by the type of loan

The following table presents loans outstanding, by type of loan, as of December 31:

						% of Total								% of Total
(Dollars in thousands)		2021				Loans				2020				Loans
Residential mortgage		$	498,300				10.37	%		$	502,829				11.50	%
Multifamily mortgage			1,595,866				33.20				1,126,946				25.77
Commercial mortgage			662,626				13.78				691,294				15.81
Commercial loans (including equipment financing) (A)			1,955,157				40.67				1,950,981				44.62
Commercial construction			20,044				0.42				12,600				0.29
Home equity lines of credit			40,803				0.85				50,546				1.15
Consumer loans, including    fixed rate home equity loans			33,687				0.70				37,016				0.85
Other loans			238				0.01				225				0.01
Total loans		$	4,806,721				100.00	%		$	4,372,437				100.00	%

(A) The December 31, 2021 and 2020 balances include PPP loans of $13.8 million and $195.6 million, respectively.

In determining an appropriate amount for the allowance for loan losses (“ALLL”), the Bank segments and evaluates the loan portfolio based on Federal call report codes. The following portfolio classes have been identified as of December 31:

						% of Total								% of Total
(Dollars in thousands)		2021				Loans				2020				Loans
Primary residential mortgage		$	500,243				10.42	%		$	512,841				11.74	%
Home equity lines of credit			40,803				0.85				50,545				1.16
Junior lien loan on residence			3,191				0.07				4,527				0.10
Multifamily property			1,595,866				33.23				1,126,946				25.79
Owner-occupied commercial real estate			252,603				5.26				253,447				5.80
Investment commercial real estate			1,003,979				20.90				995,613				22.79
Commercial and industrial (A)			992,332				20.66				1,059,399				24.24
Lease financing			345,868				7.20				305,931				7.00
Farmland/Agricultural production			6,871				0.14				3,068				0.07
Commercial construction			20,174				0.42				12,773				0.29
Consumer and other			40,828				0.85				44,483				1.02
Total loans		$	4,802,758				100.00	%		$	4,369,573				100.00	%
Net deferred costs			3,963								2,864
Total loans including net deferred costs		$	4,806,721							$	4,372,437

(A) The December 31, 2021 and 2020 balances include PPP loans of $13.8 million and $195.6 million, respectively.

Schedule of loans to executives and directors

The following table shows the changes in loans to officers, directors and their associates:

(In thousands)		2021				2020
Balance, beginning of year		$	3,801			$	4,164
New loans			845				1,094
Repayments			(309	)			(1,457	)
Balance, at end of year		$	4,337			$	3,801

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 segment, based on impairment method, and the corresponding balances in the ALLL as of December 31, 2021 and 2020:

December 31, 2021
		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		$	2,242			$	—			$	498,001			$	1,432			$	500,243			$	1,432
Home equity lines of credit			—				—				40,803				83				40,803				83
Junior lien loan on residence			18				—				3,173				5				3,191				5
Multifamily property			—				—				1,595,866				9,806				1,595,866				9,806
Owner-occupied commercial real estate			458				—				252,145				1,998				252,603				1,998
Investment commercial real estate			12,750				4,234				991,229				22,849				1,003,979				27,083
Commercial and industrial			2,584				—				989,748				17,509				992,332				17,509
Lease financing			—				—				345,868				3,440				345,868				3,440
Secured by farmland and agricultural    production			—				—				6,871				84				6,871				84
Commercial construction			—				—				20,174				42				20,174				42
Consumer and other			—				—				40,828				215				40,828				215
Total ALLL		$	18,052			$	4,234			$	4,784,706			$	57,463			$	4,802,758			$	61,697

December 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		$	1,490			$	3			$	511,351			$	2,902			$	512,841			$	2,905
Home equity lines of credit			—				—				50,545				218				50,545				218
Junior lien loan on residence			—				—				4,527				15				4,527				15
Multifamily property			—				—				1,126,946				9,945				1,126,946				9,945
Owner-occupied commercial real estate			807				—				252,640				3,050				253,447				3,050
Investment commercial real estate			4,593				—				991,020				27,713				995,613				27,713
Commercial and industrial			9,314				2,700				1,050,085				16,347				1,059,399				19,047
Lease financing			—				—				305,931				3,936				305,931				3,936
Secured by farmland and agricultural    production			—				—				3,068				43				3,068				43
Commercial construction			—				—				12,773				158				12,773				158
Consumer and other			—				—				44,483				279				44,483				279
Total ALLL		$	16,204			$	2,703			$	4,353,369			$	64,606			$	4,369,573			$	67,309

Schedule of loans individually evaluated for impairment

The following tables present loans individually evaluated for impairment by class of loans as of December 31, 2021 and 2020:

		December 31, 2021
		Unpaid												Average
		Principal				Recorded				Specific				Impaired
(In thousands)		Balance				Investment				Reserves				Loans
With no related allowance recorded:
Primary residential mortgage		$	2,453			$	2,242			$	—			$	1,818
Owner-occupied commercial real estate			492				458				—				540
Junior lien loan on residence			18				18				—				3
Commercial and industrial			4,549				2,584				—				3,153
Total loans with no related allowance		$	7,512			$	5,302			$	—			$	5,514
With related allowance recorded:
Investment commercial real estate		$	19,887			$	12,750			$	4,234			$	6,034
Total loans with related allowance		$	19,887			$	12,750			$	4,234			$	6,034
Total loans individually evaluated for impairment		$	27,399			$	18,052			$	4,234			$	11,548

		December 31, 2020
		Unpaid												Average
		Principal				Recorded				Specific				Impaired
(In thousands)		Balance				Investment				Reserves				Loans
With no related allowance recorded:
Primary residential mortgage		$	1,601			$	1,328			$	—			$	5,544
Owner-occupied commercial real estate			817				807				—				516
Investment commercial real estate			4,593				4,593				—				6,582
Commercial and industrial			7,137				4,314				—				1,677
Total loans with no related allowance		$	14,148			$	11,042			$	—			$	14,319
With related allowance recorded:
Primary residential mortgage		$	162			$	162			$	3			$	526
Commercial and industrial			5,000				5,000				2,700				4,140
Total loans with related allowance		$	5,162			$	5,162			$	2,703			$	4,666
Total loans individually evaluated for impairment		$	19,310			$	16,204			$	2,703			$	18,985

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 December 31, 2021 and 2020:

		December 31, 2021
						Loans Past Due Over
						90 Days and Still
(In thousands)		Nonaccrual				Accruing Interest
Primary residential mortgage		$	1,851			$	—
Junior lien loan on residence			18				—
Owner-occupied commercial real estate			458				—
Investment commercial real estate			12,750				—
Commercial and industrial			496				—
Total		$	15,573			$	—

		December 31, 2020
						Loans Past Due Over
						90 Days and Still
(In thousands)		Nonaccrual				Accruing Interest
Primary residential mortgage		$	1,328			$	—
Owner-occupied commercial real estate			807				—
Commercial and industrial			9,275				—
Total		$	11,410			$	—

Schedule of aging of past due loans

The following tables present the recorded investment in past due loans as of December 31, 2021 and 2020 by class of loans, excluding nonaccrual loans:

		December 31, 2021
		30-59				60-89				Greater Than
		Days				Days				90 Days				Total
(In thousands)		Past Due				Past Due				Past Due				Past Due
Primary residential mortgage		$	639			$	—			$	—			$	639
Commercial and industrial			7,825				142				—				7,967
Total		$	8,464			$	142			$	—			$	8,606

		December 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		$	2,900			$	141			$	—			$	3,041
Home equity lines of credit			181				—				—				181
Junior lien loan on residence			—				25				—				25
Multifamily property			—				269				—				269
Owner-occupied commercial real estate			268				—				—				268
Commercial and industrial			497				772				—				1,269
Total		$	3,846			$	1,207			$	—			$	5,053

Schedule of the risk category of loans by class of loans

The table below presents, based on the most recent analysis performed, the risk category of loans by class of loans for December 31, 2021 and 2020.

December 31, 2021
						Special
(In thousands)		Pass				Mention				Substandard				Doubtful
Primary residential mortgage		$	494,444			$	557			$	5,242			$	—
Home equity lines of credit			40,274				—				529				—
Junior lien loan on residence			3,173				—				18				—
Multifamily property			1,579,776				7,720				8,370				—
Owner-occupied commercial real estate			251,229				663				711				—
Investment commercial real estate			901,877				87,297				14,805				—
Commercial and industrial			951,127				20,178				21,027				—
Lease financing			345,868				—				—				—
Secured by farmland and agricultural			6,871				—				—				—
Commercial construction			20,099				75				—				—
Consumer and other loans			40,828				—				—				—
Total		$	4,635,566			$	116,490			$	50,702			$	—

December 31, 2020
						Special
(In thousands)		Pass				Mention				Substandard				Doubtful
Primary residential mortgage		$	504,795			$	1,398			$	6,648			$	—
Home equity lines of credit			50,068				—				477				—
Junior lien loan on residence			4,483				—				44				—
Multifamily property			1,121,145				5,441				360				—
Owner-occupied commercial real estate			240,638				10,417				2,392				—
Investment commercial real estate			893,115				91,162				11,336				—
Commercial and industrial			989,281				53,604				16,514				—
Lease financing			305,931				—				—				—
Secured by farmland and agricultural			3,068				—				—				—
Commercial construction			12,692				81				—				—
Consumer and other loans			44,483				—				—				—
Total		$	4,169,699			$	162,103			$	37,771			$	—

Schedule of Activity in Allowance for Loan and Lease Losses

The tables below present a roll forward of the ALLL for the years ended December 31, 2021, 2020 and 2019.

		January 1,																December 31,
		2021																2021
		Beginning																Ending
(In thousands)		ALLL				Charge-Offs				Recoveries				Provision				ALLL
Primary residential mortgage		$	2,905			$	(12	)		$	—			$	(1,461	)		$	1,432
Home equity lines of credit			218				—				85				(220	)			83
Junior lien loan on residence			15				—				—				(10	)			5
Multifamily property			9,945				—				—				(139	)			9,806
Owner-occupied commercial real estate			3,050				—				—				(1,052	)			1,998
Investment commercial real estate			27,713				(7,137	)			—				6,507				27,083
Commercial and industrial			19,047				(5,019	)			66				3,415				17,509
Lease financing			3,936				—				—				(496	)			3,440
Secured by farmland and agricultural			43				—				—				41				84
Commercial construction			158				—				—				(116	)			42
Consumer and other			279				(80	)			10				6				215
Total ALLL		$	67,309			$	(12,248	)		$	161			$	6,475			$	61,697

		January 1,																December 31,
		2020																2020
		Beginning												Provision				Ending
(In thousands)		ALLL				Charge-Offs				Recoveries				(Credit)				ALLL
Primary residential mortgage		$	2,090			$	(559	)		$	373			$	1,001			$	2,905
Home equity lines of credit			128				—				11				79				218
Junior lien loan on residence			13				—				—				2				15
Multifamily property			6,037				(56	)			—				3,964				9,945
Owner-occupied commercial real estate			2,064				(51	)			—				1,037				3,050
Investment commercial real estate			15,988				(6,092	)			31				17,786				27,713
Commercial and industrial			14,353				(2,418	)			17				7,095				19,047
Lease financing			2,642				—				—				1,294				3,936
Secured by farmland and agricultural			38				—				—				5				43
Commercial construction			27				—				—				131				158
Consumer and other			296				(27	)			4				6				279
Total ALLL		$	43,676			$	(9,203	)		$	436			$	32,400			$	67,309

		January 1,																December 31,
		2019																2019
		Beginning												Provision				Ending
(In thousands)		ALLL				Charge-Offs				Recoveries				(Credit)				ALLL
Primary residential mortgage		$	3,506			$	(80	)		$	205			$	(1,541	)		$	2,090
Home equity lines of credit			164				—				10				(46	)			128
Junior lien loan on residence			15				—				11				(13	)			13
Multifamily property			5,959				—				—				78				6,037
Owner-occupied commercial real estate			2,614				—				1,060				(1,610	)			2,064
Investment commercial real estate			14,248				—				—				1,740				15,988
Commercial and industrial			9,839				—				17				4,497				14,353
Lease financing			1,772				—				—				870				2,642
Secured by farmland and agricultural			2				—				—				36				38
Commercial construction			1				—				—				26				27
Consumer and other			384				(55	)			4				(37	)			296
Total ALLL		$	38,504			$	(135	)		$	1,307			$	4,000			$	43,676

Schedule of loans modified as troubled debt restructurings

Details with respect to loan modifications are as follows:

						Post-Modification
						Outstanding
		Number of				Recorded
(Dollars in thousands)		Loans				Investment
Primary residential mortgage			1			$	145
Investment commercial real estate			1				12,750
Commercial and industrial			4				12,656
Total			6			$	25,551

The following table presents loans by class modified as troubled debt restructurings that occurred during the year ended December 31, 2021:

						Pre-Modification				Post-Modification
						Outstanding				Outstanding
		Number of				Recorded				Recorded
(Dollars in thousands)		Loans				Investment				Investment
Primary residential mortgage			3			$	603			$	603
Junior lien loan on residence			1				18				18
Commercial and industrial			1				2,070				2,070
Total			5			$	2,691			$	2,691

The following table presents loans by class modified as troubled debt restructurings that occurred during the year ended December 31, 2020:

						Pre-Modification				Post-Modification
						Outstanding				Outstanding
		Number of				Recorded				Recorded
(Dollars in thousands)		Loans				Investment				Investment
Primary residential mortgage			3			$	423			$	423
Commercial and industrial			1				39				39
Total			4			$	462			$	462

The following table presents loans by class modified as troubled debt restructurings that occurred during the year ended December 31, 2019:

						Pre-Modification				Post-Modification
						Outstanding				Outstanding
		Number of				Recorded				Recorded
(Dollars in thousands)		Loans				Investment				Investment
Primary residential mortgage			2			$	530			$	530
Commercial and industrial			5				6,028				6,028
Total			7			$	6,558			$	6,558

The following table presents loans by class modified as troubled debt restructurings during the year ended December 31, 2021 for which there was a payment default during the same period:

		Number of				Recorded
(Dollars in thousands)		Loans				Investment
Primary residential mortgage			1			$	218
Total			1			$	218

The following table presents loans by class modified as troubled debt restructurings during the year ended December 31, 2020 for which there was a payment default during the same period:

		Number of				Recorded
(Dollars in thousands)		Loans				Investment
Primary residential mortgage			1			$	133
Commercial and industrial			1				39
Total			2			$	172

The following table presents loans by class modified as trouble debt restructurings during the year ended December 31, 2019 for which there was a payment default during the same period:

		Number of				Recorded
(Dollars in thousands)		Loans				Investment
Primary residential mortgage			1			$	201
Total			1			$	201

X

- Definition

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

+ Details

Name:	us-gaap_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of financing receivables by credit quality indicator. The credit quality indicator is a statistic about the credit quality of financing receivables. Examples include, but not limited to, consumer credit risk scores, credit-rating-agency ratings, an entity's internal credit risk grades, loan-to-value ratios, collateral, collection experience and other internal metrics.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 20
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=124255953&loc=SL82919230-210447

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 29
-URI http://asc.fasb.org/extlink&oid=123577603&loc=SL6953659-111524

+ Details

Name:	us-gaap_FinancingReceivableCreditQualityIndicatorsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of impaired financing receivables.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=123577603&loc=d3e5212-111524

+ Details

Name:	us-gaap_ImpairedFinancingReceivablesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of aging analysis for financing receivable.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 20
-Section 50
-Paragraph 14
-URI http://asc.fasb.org/extlink&oid=124255953&loc=SL82919253-210447

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 7A
-URI http://asc.fasb.org/extlink&oid=123577603&loc=SL6953401-111524

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 20
-Section 55
-Paragraph 80
-URI http://asc.fasb.org/extlink&oid=124267575&loc=SL82922355-210448

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=123577603&loc=d3e5111-111524

+ Details

Name:	us-gaap_PastDueFinancingReceivablesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_ReceivablesAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.3,4)
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

+ Details

Name:	us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of allowance for credit loss of financing receivable, classified as current.

+ 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
-Subparagraph (c)
-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

+ Details

Name:	us-gaap_ScheduleOfCreditLossesForFinancingReceivablesCurrentTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of financing receivable on nonaccrual status.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=123577603&loc=d3e5111-111524

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 20
-Section 50
-Paragraph 16
-URI http://asc.fasb.org/extlink&oid=124255953&loc=SL82919258-210447

+ Details

Name:	us-gaap_ScheduleOfFinancingReceivablesNonAccrualStatusTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of related party transactions. Examples of related party transactions include, but are not limited to, transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners and (d) affiliates.

+ References

No definition available.

+ Details

Name:	us-gaap_ScheduleOfRelatedPartyTransactionsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of financing receivable modified as troubled debt restructuring.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 33
-URI http://asc.fasb.org/extlink&oid=123577603&loc=SL6953676-111524

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=123577603&loc=SL6953682-111524

+ Details

Name:	us-gaap_TroubledDebtRestructuringsOnFinancingReceivablesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration