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ALLOWANCE FOR CREDIT LOSSES (Tables)

6 Months Ended

Jun. 30, 2023

Credit Loss [Abstract]

Schedule of loan balances by segment and the corresponding balances in the allowance for loan losses

The following tables present the loan balances by segment, and the corresponding balances in the allowance as of June 30, 2023 and December 31, 2022. The allowance was based on the CECL methodology.

		June 30, 2023
						Ending ACL
						Attributable								Ending ACL
		Total				To				Total				Attributable
		Individually				Individually				Loans				To Loans								Total
		Evaluated				Evaluated				Collectively				Collectively				Total				Ending
(In thousands)		Loans				Loans				Evaluated				Evaluated				Loans				ACL
Primary residential mortgage		$	363			$	—			$	575,741			$	3,148			$	576,104			$	3,148
Junior lien loan on residence			—				—				37,780				151				37,780				151
Multifamily property			18,868				1,986				1,865,501				8,551				1,884,369				10,537
Owner-occupied commercial real estate			—				—				258,909				4,708				258,909				4,708
Investment commercial real estate			9,935				—				1,031,254				13,548				1,041,189				13,548
Commercial and industrial			3,373				448				1,278,685				26,985				1,282,058				27,433
Lease financing			1,328				—				278,190				2,063				279,518				2,063
Construction			—				—				16,251				421				16,251				421
Consumer and other loans			—				—				55,476				695				55,476				695
Total ACL		$	33,867			$	2,434			$	5,397,787			$	60,270			$	5,431,654			$	62,704

		December 31, 2022
						Ending ACL
						Attributable								Ending ACL
		Total				To				Total				Attributable
		Individually				Individually				Loans				To Loans								Total
		Evaluated				Evaluated				Collectively				Collectively				Total				Ending
(In thousands)		Loans				Loans				Evaluated				Evaluated				Loans				ACL
Primary residential mortgage		$	374			$	—			$	527,410			$	2,894			$	527,784			$	2,894
Junior lien loan on residence			—				—				38,265				154				38,265				154
Multifamily property			—				—				1,863,915				8,849				1,863,915				8,849
Owner-occupied commercial real estate			—				—				272,009				4,835				272,009				4,835
Investment commercial real estate			11,208				1,208				1,032,917				14,272				1,044,125				15,480
Commercial and industrial			3,385				299				1,191,277				25,231				1,194,662				25,530
Lease financing			1,765				—				286,801				2,314				288,566				2,314
Construction			—				—				9,936				236				9,936				236
Consumer and other loans			—				—				42,319				537				42,319				537
Total ACL		$	16,732			$	1,507			$	5,264,849			$	59,322			$	5,281,581			$	60,829

Schedule of loans individually evaluated by segment

The following tables present collateral dependent loans individually evaluated by segment as of June 30, 2023 and December 31, 2022:

		June 30, 2023
														Average
		Unpaid												Individually
		Principal				Recorded				Related				Evaluated
(In thousands)		Balance				Investment				Allowance				Loans
With no related allowance recorded:
Primary residential mortgage		$	408			$	363			$	—			$	436
Investment commercial real estate			12,500				9,935				—				10,967
Multifamily property			9,153				9,153				—				1,526
Commercial and industrial			3,775				1,608				—				2,004
Lease financing			1,383				1,328				—				1,529
Total loans with no related allowance		$	27,219			$	22,387			$	—			$	16,462
With related allowance recorded:
Multifamily property		$	9,714			$	9,715			$	1,986			$	7,254
Commercial and industrial			1,864				1,765				448				1,099
Total loans with related allowance		$	11,578			$	11,480			$	2,434			$	8,353
Total loans individually evaluated		$	38,797			$	33,867			$	2,434			$	24,815

		December 31, 2022
														Average
		Unpaid												Individually
		Principal				Recorded				Related				Evaluated
(In thousands)		Balance				Investment				Allowance				Loans
With no related allowance recorded:
Primary residential mortgage		$	415			$	374			$	—			$	249
Commercial and industrial			3,868				1,836				—				539
Lease financing			1,792				1,765				—				444
Total loans with no related allowance		$	6,075			$	3,975			$	—			$	1,232
With related allowance recorded:
Investment commercial real estate		$	12,500			$	11,208			$	1,208			$	12,402
Commercial and industrial			1,555				1,549				299				174
Total loans with related allowance		$	14,055			$	12,757			$	1,507			$	12,576
Total loans individually evaluated for impairment		$	20,130			$	16,732			$	1,507			$	13,808

Schedule of Activity in Allowance for Loan and Losses

The activity in the allowance for credit losses for the three months ended June 30, 2023 and June 30, 2022 is summarized below:

		April 1,																June 30,
		2023																2023
		Beginning												Provision				Ending
(In thousands)		ACL				Charge-offs				Recoveries				(Credit) (A)				ACL
Primary residential mortgage		$	2,959			$	—			$	—			$	189			$	3,148
Junior lien loan on residence			146				—				—				5				151
Multifamily property			9,823				—				—				714				10,537
Owner-occupied commercial real estate			4,952				—				—				(244	)			4,708
Investment commercial real estate			14,538				(1,199	)			—				209				13,548
Commercial and industrial			26,869				—				—				564				27,433
Lease financing			1,989				—				—				74				2,063
Construction			313				—				—				108				421
Consumer and other loans			661				(15	)			2				47				695
Total ACL		$	62,250			$	(1,214	)		$	2			$	1,666			$	62,704

(A) Provision to roll forward the ACL excludes a provision of $30,000 for off-balance sheet commitments.

		April 1,																June 30,
		2022																2022
		Beginning												Provision				Ending
(In thousands)		ACL				Charge-offs				Recoveries				(Credit) (A)				ACL
Primary residential mortgage		$	2,291			$	—			$	—			$	(137	)		$	2,154
Junior lien loan on residence			161				(3	)			—				(7	)			151
Multifamily property			15,017				—				—				773				15,790
Owner-occupied commercial real estate			4,774				—				—				(114	)			4,660
Investment commercial real estate			10,504				—				—				465				10,969
Commercial and industrial			21,192				—				—				(194	)			20,998
Lease financing			3,354				—				—				(2	)			3,352
Construction			468				—				—				(109	)			359
Consumer and other loans			625				(7	)			—				(29	)			589
Total ACL		$	58,386			$	(10	)		$	—			$	646			$	59,022

(A) Provision to roll forward the ACL excludes a provision of $803,000 for off-balance sheet commitments.

The activity in the allowance for credit losses for the six months ended June 30, 2023 and 2022 is summarized below:

		January 1,																June 30,
		2023																2023
		Beginning												Provision				Ending
(In thousands)		ACL				Charge-offs				Recoveries				(Credit) (A)				ACL
Primary residential mortgage		$	2,894			$	—			$	—			$	254			$	3,148
Junior lien loan on residence			154				—				—				(3	)			151
Multifamily property			8,849				—				—				1,688				10,537
Owner-occupied commercial real estate			4,835				—				—				(127	)			4,708
Investment commercial real estate			15,480				(1,199	)			—				(733	)			13,548
Commercial and industrial			25,530				—				—				1,903				27,433
Lease financing			2,314				—				—				(251	)			2,063
Construction			236				—				—				185				421
Consumer and other loans			537				(61	)			5				214				695
Total ACL		$	60,829			$	(1,260	)		$	5			$	3,130			$	62,704

(A) Provision to roll forward the ACL excludes a provision of $79,000 for off-balance sheet commitments.

		December 31,
		2021
		Prior to																				June 30,
		Adoption				Impact of																2022
		of				Adopting												Provision				Ending
(In thousands)		Topic 326				Topic 326				Charge-offs				Recoveries				(Credit) (A)				ACL
Primary residential mortgage		$	1,510			$	717			$	—			$	—			$	(73	)		$	2,154
Junior lien loan on residence			88				83				(3	)			—				(17	)			151
Multifamily property			9,806				4,072				—				—				1,912				15,790
Owner-occupied commercial real estate			1,998				2,902				—				—				(240	)			4,660
Investment commercial real estate			27,083				(13,589	)			(250	)			—				(2,275	)			10,969
Commercial and industrial			17,509				(657	)			—				4				4,142				20,998
Lease financing			3,440				156				—				—				(244	)			3,352
Construction			48				361				—				—				(50	)			359
Consumer and other loans			215				419				(27	)			2				(20	)			589
Total ACL		$	61,697			$	(5,536	)		$	(280	)		$	6			$	3,135			$	59,022

(A) Provision to roll forward the ACL excludes a provision of $689,000 for off-balance sheet commitments.

Schedule of Activity in ACL for Off Balance Sheet Commitments

The following tables present the activity in the ACL for off-balance sheet commitments for the six months ended June 30, 2023 and 2022:

		January 1,
		2023								June 30,
		Beginning				Provision				2023
(In thousands)		ACL				(Credit)				Ending ACL
Off balance sheet commitments		$	752			$	79			$	831
Total ACL		$	752			$	79			$	831

		December 31,
		2021												June 30,
		Prior to adoption				Impact of				Provision				2022
(In thousands)		of Topic 326				adopting Topic 326				(Credit)				Ending ACL
Off balance sheet commitments		$	—			$	302			$	689			$	991
Total ACL		$	—			$	302			$	689			$	991

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Schedule of off balance sheet credit loss liability.

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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 https://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 https://asc.fasb.org/extlink&oid=124255953&loc=SL82919249-210447

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- 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 https://asc.fasb.org/extlink&oid=123577603&loc=d3e5212-111524

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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 https://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 https://asc.fasb.org/extlink&oid=124255953&loc=SL82919249-210447

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