XML 35 R29.htm IDEA: XBRL DOCUMENT v3.25.2
LOANS AND LEASES (Tables)
6 Months Ended
Jun. 30, 2025
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, 2025 and December 31, 2024, consisted of the following:

 

 

 

 

 

% of

 

 

 

 

 

% of

 

 

 

June 30,

 

 

Totals

 

 

December 31,

 

 

Total

 

(Dollars in thousands)

 

2025

 

 

Loans

 

 

2024

 

 

Loans

 

Residential mortgage

 

$

649,703

 

 

 

11.16

%

 

$

614,840

 

 

 

11.15

%

Multifamily mortgage

 

 

1,794,854

 

 

 

30.84

 

 

 

1,799,754

 

 

 

32.65

 

Commercial mortgage

 

 

643,520

 

 

 

11.06

 

 

 

588,104

 

 

 

10.67

 

Commercial loans (including equipment financing)

 

 

2,537,597

 

 

 

43.61

 

 

 

2,389,105

 

 

 

43.34

 

Commercial construction

 

 

 

 

 

 

 

 

 

 

 

 

Home equity lines of credit

 

 

52,434

 

 

 

0.90

 

 

 

42,327

 

 

 

0.77

 

Consumer loans, including fixed rate home equity loans

 

 

140,668

 

 

 

2.42

 

 

 

77,785

 

 

 

1.41

 

Other loans

 

 

261

 

 

 

0.01

 

 

 

411

 

 

 

0.01

 

Total loans

 

$

5,819,037

 

 

 

100.00

%

 

$

5,512,326

 

 

 

100.00

%

In determining an appropriate amount for the allowance, the Bank segments and aggregated the loan portfolio based on common characteristics. The following pool segments identified as of June 30, 2025 and December 31, 2024 are based on the CECL methodology:

 

 

 

 

 

 

% of

 

 

 

 

 

% of

 

 

 

June 30,

 

 

Totals

 

 

December 31,

 

 

Total

 

(Dollars in thousands)

 

2025

 

 

Loans

 

 

2024

 

 

Loans

 

Primary residential mortgage

 

$

636,253

 

 

 

10.94

%

 

$

609,038

 

 

 

11.05

%

Junior lien loan on residence

 

 

55,050

 

 

 

0.95

 

 

 

45,307

 

 

 

0.82

 

Multifamily property

 

 

1,794,854

 

 

 

30.86

 

 

 

1,799,754

 

 

 

32.66

 

Owner-occupied commercial real estate

 

 

264,095

 

 

 

4.54

 

 

 

275,089

 

 

 

4.99

 

Investment commercial real estate

 

 

1,001,995

 

 

 

17.22

 

 

 

978,436

 

 

 

17.75

 

Commercial and industrial

 

 

1,630,826

 

 

 

28.04

 

 

 

1,489,466

 

 

 

27.03

 

Lease financing

 

 

273,030

 

 

 

4.69

 

 

 

222,497

 

 

 

4.04

 

Construction

 

 

17,928

 

 

 

0.31

 

 

 

11,204

 

 

 

0.20

 

Consumer and other

 

 

142,730

 

 

 

2.45

 

 

 

80,165

 

 

 

1.46

 

Total loans

 

 

5,816,761

 

 

 

100.00

%

 

 

5,510,956

 

 

 

100.00

%

Net deferred costs

 

 

2,276

 

 

 

 

 

 

1,370

 

 

 

 

Total loans including net deferred costs

 

$

5,819,037

 

 

 

 

 

$

5,512,326

 

 

 

 

 

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

The following tables present the recorded investment in nonaccrual and loans past due 90 days or over still on accrual by class of loans as of June 30, 2025 and December 31, 2024:

 

 

 

 

 

 

June 30, 2025

 

 

 

 

 

 

Nonaccrual

 

 

 

 

 

Loans Past Due

 

 

 

With No

 

 

 

 

 

90 Days or Over

 

 

 

Allowance

 

 

 

 

 

And Still

 

(In thousands)

 

for Credit Loss

 

 

Nonaccrual

 

 

Accruing Interest

 

Primary residential mortgage

 

$

3,295

 

 

$

3,295

 

 

$

 

Junior lien loan on residence

 

 

111

 

 

 

111

 

 

 

 

Multifamily property

 

 

19,341

 

 

 

55,978

 

 

 

 

Investment commercial real estate

 

 

9,691

 

 

 

11,621

 

 

 

 

Commercial and industrial

 

 

17,731

 

 

 

42,909

 

 

 

 

Lease financing

 

 

244

 

 

 

1,044

 

 

 

 

Total

 

$

50,413

 

 

$

114,958

 

 

$

 

 

 

 

 

 

December 31, 2024

 

 

 

 

 

 

Nonaccrual

 

 

 

 

 

Loans Past Due

 

 

 

With No

 

 

 

 

 

90 Days or Over

 

 

 

Allowance

 

 

 

 

 

And Still

 

(In thousands)

 

for Credit Loss

 

 

Nonaccrual

 

 

Accruing Interest

 

Primary residential mortgage

 

$

3,168

 

 

$

3,168

 

 

$

 

Junior lien loan on residence

 

 

92

 

 

 

92

 

 

 

 

Multifamily property

 

 

15,294

 

 

 

53,105

 

 

 

 

Investment commercial real estate

 

 

9,754

 

 

 

11,684

 

 

 

 

Commercial and industrial

 

 

5,394

 

 

 

30,881

 

 

 

 

Lease financing

 

 

434

 

 

 

1,234

 

 

 

 

Consumer and other

 

 

4

 

 

 

4

 

 

 

 

Total

 

$

34,140

 

 

$

100,168

 

 

$

 

 

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, 2025 and December 31, 2024 by class of loans, excluding nonaccrual loans:

 

 

 

June 30, 2025

 

 

 

30-59

 

 

60-89

 

 

90 Days or

 

 

 

 

 

 

Days

 

 

Days

 

 

Greater

 

 

Total

 

(In thousands)

 

Past Due

 

 

Past Due

 

 

Past Due

 

 

Past Due

 

Primary residential mortgage

 

$

287

 

 

$

842

 

 

$

 

 

$

1,129

 

Multifamily property

 

 

3,623

 

 

 

8,303

 

 

 

 

 

 

11,926

 

Investment commercial real estate

 

 

284

 

 

 

 

 

 

 

 

 

284

 

Commercial and industrial

 

 

317

 

 

 

1,866

 

 

 

 

 

 

2,183

 

Total

 

$

4,511

 

 

$

11,011

 

 

$

 

 

$

15,522

 

 

 

 

December 31, 2024

 

 

 

30-59

 

 

60-89

 

 

90 Days or

 

 

 

 

 

 

Days

 

 

Days

 

 

Greater

 

 

Total

 

(In thousands)

 

Past Due

 

 

Past Due

 

 

Past Due

 

 

Past Due

 

Primary residential mortgage

 

$

1,143

 

 

$

199

 

 

$

 

 

$

1,342

 

Junior lien on residence

 

 

 

 

 

23

 

 

 

 

 

 

23

 

Commercial and industrial

 

 

1,696

 

 

 

1,809

 

 

 

 

 

 

3,505

 

Total

 

$

2,839

 

 

$

2,031

 

 

$

 

 

$

4,870

 

Schedule of credit risk profile of loans

The following is a summary of the credit risk profile of loans by internally assigned grade as of June 30, 2025 and December 31, 2024 based on originations for the periods indicated; the years represent the year of origination for non-revolving loans:

 

 

 

Grade as of June 30, 2025 for Loans Originated During

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2020

 

 

 

 

 

Revolving-

 

 

 

 

(In thousands)

 

2025

 

 

2024

 

 

2023

 

 

2022

 

 

2021

 

 

and Prior

 

 

Revolving

 

 

Term

 

 

Total

 

Primary residential mortgage:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

   Pass

 

$

55,733

 

 

$

72,875

 

 

$

86,490

 

 

$

106,144

 

 

$

69,733

 

 

$

235,685

 

 

$

 

 

$

5,630

 

 

$

632,290

 

   Special mention

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

   Substandard

 

 

 

 

 

 

 

 

1,366

 

 

 

92

 

 

 

 

 

 

2,505

 

 

 

 

 

 

 

 

 

3,963

 

   Doubtful

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total primary residential mortgages

 

 

55,733

 

 

 

72,875

 

 

 

87,856

 

 

 

106,236

 

 

 

69,733

 

 

 

238,190

 

 

 

 

 

 

5,630

 

 

 

636,253

 

Current period gross charge-offs

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Junior lien loan on residence:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

   Pass

 

 

 

 

 

 

 

 

669

 

 

 

1,039

 

 

 

72

 

 

 

836

 

 

 

46,346

 

 

 

5,976

 

 

 

54,938

 

   Special mention

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

   Substandard

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

111

 

 

 

1

 

 

 

112

 

   Doubtful

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total junior lien loan on residence

 

 

 

 

 

 

 

 

669

 

 

 

1,039

 

 

 

72

 

 

 

836

 

 

 

46,457

 

 

 

5,977

 

 

 

55,050

 

Current period gross charge-offs

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Multifamily property:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

   Pass

 

 

80,125

 

 

 

25,487

 

 

 

51,309

 

 

 

410,982

 

 

 

589,893

 

 

 

495,747

 

 

 

735

 

 

 

44,752

 

 

 

1,699,030

 

   Special mention

 

 

 

 

 

 

 

 

 

 

 

12,029

 

 

 

11,926

 

 

 

8,997

 

 

 

 

 

 

 

 

 

32,952

 

   Substandard

 

 

 

 

 

 

 

 

 

 

 

11,794

 

 

 

12,008

 

 

 

39,070

 

 

 

 

 

 

 

 

 

62,872

 

   Doubtful

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total multifamily property

 

 

80,125

 

 

 

25,487

 

 

 

51,309

 

 

 

434,805

 

 

 

613,827

 

 

 

543,814

 

 

 

735

 

 

 

44,752

 

 

 

1,794,854

 

Current period gross charge-offs

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Owner-occupied commercial real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

   Pass

 

 

26,012

 

 

 

32,268

 

 

 

4,125

 

 

 

21,312

 

 

 

43,711

 

 

 

107,943

 

 

 

16,760

 

 

 

10,150

 

 

 

262,281

 

   Special mention

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

500

 

 

 

 

 

 

500

 

   Substandard

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1,314

 

 

 

 

 

 

 

 

 

1,314

 

   Doubtful

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total owner-occupied commercial real estate

 

 

26,012

 

 

 

32,268

 

 

 

4,125

 

 

 

21,312

 

 

 

43,711

 

 

 

109,257

 

 

 

17,260

 

 

 

10,150

 

 

 

264,095

 

Current period gross charge-offs

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Investment commercial real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

   Pass

 

 

67,721

 

 

 

43,211

 

 

 

117,098

 

 

 

144,780

 

 

 

92,257

 

 

 

429,405

 

 

 

22,310

 

 

 

38,935

 

 

 

955,717

 

   Special mention

 

 

 

 

 

 

 

 

 

 

 

22,316

 

 

 

 

 

 

12,341

 

 

 

 

 

 

 

 

 

34,657

 

   Substandard

 

 

 

 

 

 

 

 

 

 

 

9,691

 

 

 

 

 

 

1,930

 

 

 

 

 

 

 

 

 

11,621

 

   Doubtful

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total investment commercial real estate

 

 

67,721

 

 

 

43,211

 

 

 

117,098

 

 

 

176,787

 

 

 

92,257

 

 

 

443,676

 

 

 

22,310

 

 

 

38,935

 

 

 

1,001,995

 

Current period gross charge-offs

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial and industrial:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

   Pass

 

 

172,894

 

 

 

369,914

 

 

 

100,761

 

 

 

120,075

 

 

 

112,731

 

 

 

21,416

 

 

 

630,059

 

 

 

19,322

 

 

 

1,547,172

 

   Special mention

 

 

 

 

 

 

 

 

1,284

 

 

 

 

 

 

8,281

 

 

 

1,043

 

 

 

4,936

 

 

 

3,254

 

 

 

18,798

 

   Substandard

 

 

 

 

 

10,271

 

 

 

1,886

 

 

 

19,039

 

 

 

52

 

 

 

6,368

 

 

 

18,488

 

 

 

8,752

 

 

 

64,856

 

   Doubtful

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total commercial and industrial

 

 

172,894

 

 

 

380,185

 

 

 

103,931

 

 

 

139,114

 

 

 

121,064

 

 

 

28,827

 

 

 

653,483

 

 

 

31,328

 

 

 

1,630,826

 

Current period gross charge-offs

 

 

 

 

 

 

 

 

1,858

 

 

 

446

 

 

 

 

 

 

45

 

 

 

 

 

 

 

 

 

2,349

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Lease financing:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

   Pass

 

 

80,020

 

 

 

42,818

 

 

 

40,307

 

 

 

34,388

 

 

 

42,706

 

 

 

31,746

 

 

 

 

 

 

 

 

 

271,985

 

   Special mention

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

   Substandard

 

 

 

 

 

 

 

 

801

 

 

 

 

 

 

 

 

 

244

 

 

 

 

 

 

 

 

 

1,045

 

   Doubtful

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total lease financing

 

 

80,020

 

 

 

42,818

 

 

 

41,108

 

 

 

34,388

 

 

 

42,706

 

 

 

31,990

 

 

 

 

 

 

 

 

 

273,030

 

 

 

Grade as of June 30, 2025 for Loans Originated During

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2020

 

 

 

 

 

Revolving-

 

 

 

 

(In thousands)

 

2025

 

 

2024

 

 

2023

 

 

2022

 

 

2021

 

 

and Prior

 

 

Revolving

 

 

Term

 

 

Total

 

Current period gross charge-offs

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Construction:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

   Pass

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

17,928

 

 

 

 

 

 

17,928

 

   Special mention

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

   Substandard

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

   Doubtful

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total commercial construction loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

17,928

 

 

 

 

 

 

17,928

 

Current period gross charge-offs

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consumer and other loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

   Pass

 

 

77,924

 

 

 

13,117

 

 

 

 

 

 

 

 

 

179

 

 

 

2,863

 

 

 

45,915

 

 

 

2,732

 

 

 

142,730

 

   Special mention

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

   Substandard

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

   Doubtful

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total consumer and other loans

 

 

77,924

 

 

 

13,117

 

 

 

 

 

 

 

 

 

179

 

 

 

2,863

 

 

 

45,915

 

 

 

2,732

 

 

 

142,730

 

Current period gross charge-offs

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

4

 

 

 

 

 

 

27

 

 

 

31

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

   Pass

 

 

560,429

 

 

 

599,690

 

 

 

400,759

 

 

 

838,720

 

 

 

951,282

 

 

 

1,325,641

 

 

 

780,053

 

 

 

127,497

 

 

 

5,584,071

 

   Special mention

 

 

 

 

 

 

 

 

1,284

 

 

 

34,345

 

 

 

20,207

 

 

 

22,381

 

 

 

5,436

 

 

 

3,254

 

 

 

86,907

 

   Substandard

 

 

 

 

 

10,271

 

 

 

4,053

 

 

 

40,616

 

 

 

12,060

 

 

 

51,431

 

 

 

18,599

 

 

 

8,753

 

 

 

145,783

 

   Doubtful

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Loans

 

$

560,429

 

 

$

609,961

 

 

$

406,096

 

 

$

913,681

 

 

$

983,549

 

 

$

1,399,453

 

 

$

804,088

 

 

$

139,504

 

 

$

5,816,761

 

Total Current Period Gross Charge-offs

 

$

 

 

$

 

 

$

1,858

 

 

$

446

 

 

$

 

 

$

49

 

 

$

 

 

$

27

 

 

$

2,380

 

 

 

Grade as of December 31, 2024 for Loans Originated During

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2019

 

 

 

 

 

Revolving-

 

 

 

 

(In thousands)

 

2024

 

 

2023

 

 

2022

 

 

2021

 

 

2020

 

 

and Prior

 

 

Revolving

 

 

Term

 

 

Total

 

Primary residential mortgage:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

   Pass

 

$

73,532

 

 

$

90,214

 

 

$

109,903

 

 

$

73,777

 

 

$

53,434

 

 

$

198,266

 

 

$

405

 

 

$

5,663

 

 

$

605,194

 

   Special mention

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

   Substandard

 

 

 

 

 

1,075

 

 

 

93

 

 

 

 

 

 

442

 

 

 

2,234

 

 

 

 

 

 

 

 

 

3,844

 

   Doubtful

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total primary residential mortgages

 

 

73,532

 

 

 

91,289

 

 

 

109,996

 

 

 

73,777

 

 

 

53,876

 

 

 

200,500

 

 

 

405

 

 

 

5,663

 

 

 

609,038

 

Current period gross charge-offs

 

 

 

 

 

43

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

43

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Junior lien loan on residence:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

   Pass

 

 

1,357

 

 

 

2,468

 

 

 

1,874

 

 

 

419

 

 

 

55

 

 

 

2,409

 

 

 

30,792

 

 

 

5,841

 

 

 

45,215

 

   Special mention

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

   Substandard

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

91

 

 

 

1

 

 

 

92

 

   Doubtful

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total junior lien loan on residence

 

 

1,357

 

 

 

2,468

 

 

 

1,874

 

 

 

419

 

 

 

55

 

 

 

2,409

 

 

 

30,883

 

 

 

5,842

 

 

 

45,307

 

Current period gross charge-offs

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Multifamily property:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

   Pass

 

 

29,275

 

 

 

51,583

 

 

 

456,162

 

 

 

602,288

 

 

 

117,288

 

 

 

414,192

 

 

 

1,950

 

 

 

43,488

 

 

 

1,716,226

 

   Special mention

 

 

 

 

 

 

 

 

 

 

 

11,961

 

 

 

 

 

 

7,719

 

 

 

 

 

 

 

 

 

19,680

 

   Substandard

 

 

 

 

 

 

 

 

13,366

 

 

 

7,195

 

 

 

 

 

 

43,287

 

 

 

 

 

 

 

 

 

63,848

 

   Doubtful

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total multifamily property

 

 

29,275

 

 

 

51,583

 

 

 

469,528

 

 

 

621,444

 

 

 

117,288

 

 

 

465,198

 

 

 

1,950

 

 

 

43,488

 

 

 

1,799,754

 

Current period gross charge-offs

 

 

 

 

 

 

 

 

 

 

 

2,088

 

 

 

 

 

 

3,291

 

 

 

 

 

 

 

 

 

5,379

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Owner-occupied commercial real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

   Pass

 

 

32,693

 

 

 

7,662

 

 

 

24,802

 

 

 

43,469

 

 

 

18,970

 

 

 

126,666

 

 

 

14,647

 

 

 

3,707

 

 

 

272,616

 

   Special mention

 

 

 

 

 

 

 

 

 

 

 

1,148

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1,148

 

   Substandard

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1,325

 

 

 

 

 

 

 

 

 

1,325

 

   Doubtful

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total owner-occupied commercial real estate

 

 

32,693

 

 

 

7,662

 

 

 

24,802

 

 

 

44,617

 

 

 

18,970

 

 

 

127,991

 

 

 

14,647

 

 

 

3,707

 

 

 

275,089

 

Current period gross charge-offs

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Investment commercial real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

   Pass

 

 

39,906

 

 

 

123,864

 

 

 

169,645

 

 

 

136,994

 

 

 

55,551

 

 

 

371,046

 

 

 

18,473

 

 

 

38,620

 

 

 

954,099

 

   Special mention

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

12,653

 

 

 

 

 

 

 

 

 

12,653

 

   Substandard

 

 

 

 

 

 

 

 

9,754

 

 

 

 

 

 

 

 

 

1,930

 

 

 

 

 

 

 

 

 

11,684

 

   Doubtful

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total investment commercial real estate

 

 

39,906

 

 

 

123,864

 

 

 

179,399

 

 

 

136,994

 

 

 

55,551

 

 

 

385,629

 

 

 

18,473

 

 

 

38,620

 

 

 

978,436

 

Current period gross charge-offs

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial and industrial:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

   Pass

 

 

425,315

 

 

 

127,304

 

 

 

133,067

 

 

 

132,237

 

 

 

10,760

 

 

 

33,985

 

 

 

537,844

 

 

 

12,554

 

 

 

1,413,066

 

   Special mention

 

 

 

 

 

210

 

 

 

 

 

 

12,205

 

 

 

 

 

 

187

 

 

 

 

 

 

435

 

 

 

13,037

 

   Substandard

 

 

10,307

 

 

 

4,352

 

 

 

19,252

 

 

 

52

 

 

 

2,040

 

 

 

4,417

 

 

 

12,484

 

 

 

10,448

 

 

 

63,352

 

   Doubtful

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

11

 

 

 

11

 

Total commercial and industrial

 

 

435,622

 

 

 

131,866

 

 

 

152,319

 

 

 

144,494

 

 

 

12,800

 

 

 

38,589

 

 

 

550,328

 

 

 

23,448

 

 

 

1,489,466

 

Current period gross charge-offs

 

 

93

 

 

 

 

 

 

 

 

 

 

 

 

241

 

 

 

 

 

 

 

 

 

11

 

 

 

345

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Lease financing:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

   Pass

 

 

46,585

 

 

 

43,887

 

 

 

38,297

 

 

 

47,659

 

 

 

23,711

 

 

 

21,124

 

 

 

 

 

 

 

 

 

221,263

 

   Special mention

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

   Substandard

 

 

 

 

 

800

 

 

 

 

 

 

 

 

 

 

 

 

434

 

 

 

 

 

 

 

 

 

1,234

 

   Doubtful

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total lease financing

 

 

46,585

 

 

 

44,687

 

 

 

38,297

 

 

 

47,659

 

 

 

23,711

 

 

 

21,558

 

 

 

 

 

 

 

 

 

222,497

 

 

 

Grade as of December 31, 2024 for Loans Originated During

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2019

 

 

 

 

 

Revolving-

 

 

 

 

(In thousands)

 

2024

 

 

2023

 

 

2022

 

 

2021

 

 

2020

 

 

and Prior

 

 

Revolving

 

 

Term

 

 

Total

 

Current period gross charge-offs

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Construction:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

   Pass

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

11,204

 

 

 

 

 

 

11,204

 

   Special mention

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

   Substandard

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

   Doubtful

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total commercial construction loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

11,204

 

 

 

 

 

 

11,204

 

Current period gross charge-offs

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consumer and other loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

   Pass

 

 

31,687

 

 

 

100

 

 

 

4,943

 

 

 

3,265

 

 

 

120

 

 

 

4,009

 

 

 

33,194

 

 

 

2,843

 

 

 

80,161

 

   Special mention

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

   Substandard

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

4

 

 

 

 

 

 

4

 

   Doubtful

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total consumer and other loans

 

 

31,687

 

 

 

100

 

 

 

4,943

 

 

 

3,265

 

 

 

120

 

 

 

4,009

 

 

 

33,198

 

 

 

2,843

 

 

 

80,165

 

Current period gross charge-offs

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

3

 

 

 

 

 

 

36

 

 

 

39

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

   Pass

 

 

680,350

 

 

 

447,082

 

 

 

938,693

 

 

 

1,040,108

 

 

 

279,889

 

 

 

1,171,697

 

 

 

648,509

 

 

 

112,716

 

 

 

5,319,044

 

   Special mention

 

 

 

 

 

210

 

 

 

 

 

 

25,314

 

 

 

 

 

 

20,559

 

 

 

 

 

 

435

 

 

 

46,518

 

   Substandard

 

 

10,307

 

 

 

6,227

 

 

 

42,465

 

 

 

7,247

 

 

 

2,482

 

 

 

53,627

 

 

 

12,579

 

 

 

10,449

 

 

 

145,383

 

   Doubtful

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

11

 

 

 

11

 

Total Loans

 

$

690,657

 

 

$

453,519

 

 

$

981,158

 

 

$

1,072,669

 

 

$

282,371

 

 

$

1,245,883

 

 

$

661,088

 

 

$

123,611

 

 

$

5,510,956

 

Total Current Period Gross Charge-offs

 

$

93

 

 

$

43

 

 

$

 

 

$

2,088

 

 

$

241

 

 

$

3,294

 

 

$

 

 

$

47

 

 

$

5,806

 

Summary of Information Related to Modification

The following tables provide information related to the modifications completed during the three months ended June 30, 2025 by pool segment and type of concession granted:

 

 

 

Significant Payment Delay

 

 

 

Three Months Ended June 30, 2025

 

 

 

 

 

 

% of Total

 

 

 

Amortized

 

 

Class of

 

 

 

Cost Basis

 

 

Financing

 

(Dollars in thousands)

 

at Period End

 

 

Receivable

 

Multifamily property

 

$

38,563

 

 

 

2.15

%

Total

 

$

38,563

 

 

 

2.15

%

 

 

 

Combination Int Rate Reduction

 

 

 

and Significant Payment Delay

 

 

 

Three Months Ended June 30, 2025

 

 

 

 

 

 

% of Total

 

 

 

Amortized

 

 

Class of

 

 

 

Cost Basis

 

 

Financing

 

(Dollars in thousands)

 

at Period End

 

 

Receivable

 

Multifamily property

 

$

41,432

 

 

 

2.31

%

Commercial and industrial

 

 

92

 

 

 

0.01

%

Total

 

$

41,524

 

 

 

2.32

%

 

 

 

Combination Interest Rate Reduction

 

 

 

Significant Payment Delay & Term Extension

 

 

 

Three Months Ended June 30, 2025

 

 

 

 

 

 

% of Total

 

 

 

Amortized

 

 

Class of

 

 

 

Cost Basis

 

 

Financing

 

(Dollars in thousands)

 

at Period End

 

 

Receivable

 

Multifamily property

 

$

2,889

 

 

 

0.16

%

Total

 

$

2,889

 

 

 

0.16

%

 

The following tables provide information related to the modifications completed during the six months ended June 30, 2025 by pool segment and type of concession granted:

 

 

 

Significant Payment Delay

 

 

 

Six Months Ended June 30, 2025

 

 

 

 

 

 

% of Total

 

 

 

Amortized

 

 

Class of

 

 

 

Cost Basis

 

 

Financing

 

(Dollars in thousands)

 

at Period End

 

 

Receivable

 

Primary residential mortgage

 

$

289

 

 

 

0.05

%

Multifamily property

 

 

46,866

 

 

 

2.61

%

Commercial and industrial

 

 

10,774

 

 

 

0.66

%

Total

 

$

57,929

 

 

 

3.32

%

 

 

 

Combination Int Rate Reduction

 

 

 

and Significant Payment Delay

 

 

 

Six Months Ended June 30, 2025

 

 

 

 

 

 

% of Total

 

 

 

Amortized

 

 

Class of

 

 

 

Cost Basis

 

 

Financing

 

(Dollars in thousands)

 

at Period End

 

 

Receivable

 

Multifamily property

 

$

50,739

 

 

 

2.83

%

Commercial and industrial

 

 

92

 

 

 

0.01

%

Total

 

$

50,831

 

 

 

2.84

%

 

 

 

 

Combination Significant Payment

 

 

 

Delay and Term Extension

 

 

 

Six Months Ended June 30, 2025

 

 

 

 

 

 

% of Total

 

 

 

Amortized

 

 

Class of

 

 

 

Cost Basis

 

 

Financing

 

(Dollars in thousands)

 

at Period End

 

 

Receivable

 

Commercial and industrial

 

$

416

 

 

 

0.03

%

Total

 

$

416

 

 

 

0.03

%

 

 

 

Combination Interest Rate Reduction

 

 

 

Significant Payment Delay & Term Extension

 

 

 

Six Months Ended June 30, 2025

 

 

 

 

 

 

% of Total

 

 

 

Amortized

 

 

Class of

 

 

 

Cost Basis

 

 

Financing

 

(Dollars in thousands)

 

at Period End

 

 

Receivable

 

Multifamily property

 

$

2,889

 

 

 

0.16

%

Total

 

$

2,889

 

 

 

0.16

%

 

The following table provides information related to the modifications during the three months ended June 30, 2024 by pool segment and type of concession granted:

 

 

 

Significant Payment Delay

 

 

 

Three Months Ended June 30, 2024

 

 

 

 

 

 

% of Total

 

 

 

Amortized

 

 

Class of

 

 

 

Cost Basis

 

 

Financing

 

(Dollars in thousands)

 

at Period End

 

 

Receivable

 

Primary residential mortgage

 

$

119

 

 

 

0.02

%

Commercial and industrial

 

 

14,539

 

 

 

1.17

%

Total

 

$

14,658

 

 

 

1.19

%

 

The following table provides information related to the modifications during the six months ended June 30, 2024 by pool segment and type of concession granted:

 

 

 

Interest Rate Reduction and

 

 

 

Term Extension

 

 

 

Six Months Ended June 30, 2024

 

 

 

 

 

 

% of Total

 

 

 

Amortized

 

 

Class of

 

 

 

Cost Basis

 

 

Financing

 

(Dollars in thousands)

 

at Period End

 

 

Receivable

 

Commercial and industrial

 

$

12,250

 

 

 

0.98

%

Total

 

$

12,250

 

 

 

0.98

%

 

 

 

Significant Payment Delay

 

 

 

Six Months Ended June 30, 2024

 

 

 

 

 

 

% of Total

 

 

 

Amortized

 

 

Class of

 

 

 

Cost Basis

 

 

Financing

 

(Dollars in thousands)

 

at Period End

 

 

Receivable

 

Primary residential mortgage

 

$

119

 

 

 

0.02

%

Investment commercial real estate

 

 

14,539

 

 

 

1.17

%

Total

 

$

14,658

 

 

 

1.19

%

 

Schedule of Loan Modifications, Subsequent Default, By Payment Status

The following table depicts the payment status of the loans that were modified to a borrower experiencing financial difficulties as of June 30, 2025:

 

 

 

Payment Status at June 30, 2025

 

 

 

 

 

 

30-89 Days

 

 

90+ Days

 

(Dollars in thousands)

 

Current

 

 

Past Due

 

 

Past Due

 

Primary residential mortgage

 

$

804

 

 

$

112

 

 

$

 

Multifamily property

 

 

92,190

 

 

 

8,303

 

 

 

 

Investment commercial real estate

 

 

17,753

 

 

 

 

 

 

 

Commercial and industrial

 

 

13,466

 

 

 

9,545

 

 

 

7,919

 

Total

 

$

124,213

 

 

$

17,960

 

 

$

7,919

 

 

The following table depicts the payment status of the loans that were modified to a borrower experiencing financial difficulties as of June 30, 2024:

 

 

 

Payment Status at June 30, 2024

 

 

 

 

 

 

30-89 Days

 

 

90+ Days

 

(Dollars in thousands)

 

Current

 

 

Past Due

 

 

Past Due

 

Primary residential mortgage

 

$

119

 

 

$

 

 

$

 

Commercial and industrial

 

 

26,788

 

 

 

2,863

 

 

 

248

 

Total

 

$

26,907

 

 

$

2,863

 

 

$

248

 

Schedule of Loan modifications resulted in payment default

The following table presents loans by class modified that failed to comply with the modified terms in the twelve months following modification and resulted in a payment default at June 30, 2025:

 

 

 

Amortized Cost Basis of Modified Loans

 

 

 

That Subsequently Defaulted

 

 

 

Six Months Ended June 30, 2025

 

 

 

 

 

 

Interest Rate Reduction &

 

 

Significant Pay Delay

 

(Dollars in thousands)

 

Significant Pay Delay

 

 

Significant Pay Delay

 

 

and Term Extension

 

Primary residential mortgage

 

$

804

 

 

$

 

 

$

 

Multifamily property

 

 

8,303

 

 

 

9,307

 

 

 

 

Investment commercial real estate

 

 

 

 

 

 

 

 

17,753

 

Commercial and industrial

 

 

9,545

 

 

 

 

 

 

6,742

 

Total

 

$

18,652

 

 

$

9,307

 

 

$

24,495

 

 

The following table presents loans by class modified that failed to comply with the modified terms in the twelve months following modification and resulted in a payment default at June 30, 2024:

 

 

 

Amortized Cost Basis of Modified Loans

 

 

 

That Subsequently Defaulted

 

 

 

Six Months Ended June 30, 2024

 

 

 

Significant

 

 

Interest

 

(Dollars in thousands)

 

Pay Delay

 

 

Rate Reduction

 

Commercial and industrial

 

$

 

 

$

2,863

 

Total

 

$

 

 

$

2,863