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ALLOWANCE FOR CREDIT LOSSES (Tables)

3 Months Ended

Mar. 31, 2024

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 March 31, 2024 and December 31, 2023. The allowance was based on the CECL methodology.

		March 31, 2024
						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		$	1,555			$	17			$	584,679			$	4,084			$	586,234			$	4,101
Junior lien loan on residence			120				—				38,892				178				39,012				178
Multifamily property			24,648				600				1,802,517				9,642				1,827,165				10,242
Owner-occupied commercial real estate			—				—				253,411				4,906				253,411				4,906
Investment commercial real estate			9,850				75				1,025,876				15,051				1,035,726				15,126
Commercial and industrial			31,597				4,019				1,252,504				24,736				1,284,101				28,755
Lease financing			1,760				—				237,101				1,431				238,861				1,431
Construction			—				—				20,658				597				20,658				597
Consumer and other loans			—				—				68,357				915				68,357				915
Total ACL		$	69,530			$	4,711			$	5,283,995			$	61,540			$	5,353,525			$	66,251

		December 31, 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		$	652			$	—			$	584,474			$	3,931			$	585,126			$	3,931
Junior lien loan on residence			100				—				40,103				177				40,203				177
Multifamily property			16,645				—				1,819,745				8,782				1,836,390				8,782
Owner-occupied commercial real estate			—				—				255,110				4,840				255,110				4,840
Investment commercial real estate			9,881				—				1,051,316				15,403				1,061,197				15,403
Commercial and industrial			31,430				4,518				1,283,351				25,189				1,314,781				29,707
Lease financing			2,002				20				249,421				1,643				251,423				1,663
Construction			—				—				17,987				516				17,987				516
Consumer and other loans			—				—				63,906				869				63,906				869
Total ACL		$	60,710			$	4,538			$	5,365,413			$	61,350			$	5,426,123			$	65,888

Schedule of loans individually evaluated by segment

The following tables present collateral dependent loans individually evaluated by segment as of March 31, 2024 and December 31, 2023:

		March 31, 2024
														Average
		Unpaid												Individually
		Principal				Recorded				Related				Evaluated
(In thousands)		Balance				Investment (A)				Allowance				Loans
With no related allowance recorded:
Primary residential mortgage (A)		$	1,043			$	964			$	—			$	783
Junior lien loan on residence (A)			120				120				—				114
Multifamily property (B)			23,295				21,073				—				18,121
Commercial and industrial (A)(C)(D)			7,589				5,032				—				6,339
Lease financing (E)			1,878				1,760				—				1,843
Total loans with no related allowance		$	33,925			$	28,949			$	—			$	27,200
With related allowance recorded:
Primary residential mortgage (A)		$	591			$	591			$	17			$	394
Multifamily property (B)			3,575				3,575				600				1,192
Investment commercial real estate (D)			12,500				9,850				75				9,860
Commercial and industrial (C)(D)(E)			25,360				26,565				4,019				29,141
Total loans with related allowance		$	42,026			$	40,581			$	4,711			$	40,587
Total loans individually evaluated		$	75,951			$	69,530			$	4,711			$	67,787

(A) Secured by residential real estate.

(B) Secured by multifamily residential properties.

(C) Secured by commercial real estate.

(D) Secured by all business assets.

(E) Secured by machinery and equipment.

		December 31, 2023
														Average
		Unpaid												Individually
		Principal				Recorded				Related				Evaluated
(In thousands)		Balance				Investment				Allowance				Loans
With no related allowance recorded:
Primary residential mortgage (A)		$	712			$	652			$	—			$	428
Junior lien loan on residence (A)			100				100				—				8
Multifamily property (B)			18,868				16,645				—				5,964
Investment commercial real estate (C)			12,500				9,881				—				5,781
Commercial and industrial (A)(C)(D)			6,275				3,965				—				2,146
Lease financing (E)			1,035				946				—				2,067
Total loans with no related allowance		$	39,490			$	32,189			$	—			$	16,394
With related allowance recorded:
Commercial and industrial (C)(D)(E)		$	28,359			$	27,465			$	4,518			$	9,814
Lease financing (E)			1,079				1,056				20				1,611
Total loans with related allowance		$	29,438			$	28,521			$	4,538			$	11,425
Total loans individually evaluated for impairment		$	68,928			$	60,710			$	4,538			$	27,819

Schedule of Activity in Allowance for Loan and Losses

The activity in the allowance for credit losses for the three months ended March 31, 2024 and March 31, 2023 is summarized below:

		January 1,																March 31,
		2024																2024
		Beginning												Provision				Ending
(In thousands)		ACL				Charge-offs				Recoveries				(Credit) (A)				ACL
Primary residential mortgage		$	3,931			$	—			$	—			$	170			$	4,101
Junior lien loan on residence			177				—				—				1				178
Multifamily property			8,782				—				—				1,460				10,242
Owner-occupied commercial real estate			4,840				—				—				66				4,906
Investment commercial real estate			15,403				—				—				(277	)			15,126
Commercial and industrial			29,707				(241	)			—				(711	)			28,755
Lease financing			1,663				—				—				(232	)			1,431
Construction			516				—				—				81				597
Consumer and other loans			869				(13	)			2				57				915
Total ACL		$	65,888			$	(254	)		$	2			$	615			$	66,251

(A) Provision to roll forward the ACL excludes a provision of $12,000 for off-balance sheet commitments.

		January 1,																March 31,
		2023																2023
		Beginning												Provision				Ending
(In thousands)		ACL				Charge-offs				Recoveries				(Credit) (A)				ACL
Primary residential mortgage		$	2,894			$	—			$	—			$	65			$	2,959
Junior lien loan on residence			154				—				—				(8	)			146
Multifamily property			8,849				—				—				974				9,823
Owner-occupied commercial real estate			4,835				—				—				117				4,952
Investment commercial real estate			15,480				—				—				(942	)			14,538
Commercial and industrial			25,530				—				—				1,339				26,869
Lease financing			2,314				—				—				(325	)			1,989
Construction			236				—				—				77				313
Consumer and other loans			537				(46	)			3				167				661
Total ACL		$	60,829			$	(46	)		$	3			$	1,464			$	62,250

(A) Provision to roll forward the ACL excludes a provision of $49,000 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 three months ended March 31, 2024 and 2023:

		January 1,
		2024								March 31,
		Beginning				Provision				2024
(In thousands)		ACL				(Credit)				Ending ACL
Off balance sheet commitments		$	687			$	12			$	699
Total ACL		$	687			$	12			$	699

		January 1,
		2023								March 31,
		Beginning				Provision				2023
(In thousands)		ACL				(Credit)				Ending ACL
Off balance sheet commitments		$	752			$	49			$	801
Total ACL		$	752			$	49			$	801

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Tabular disclosure of allowance for credit loss on financing receivable.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 326
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479319/326-20-50-13

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 11B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481962/310-10-50-11B

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Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481962/310-10-50-15

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+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 326
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479319/326-20-50-13

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 11B
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481962/310-10-50-11B

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