v3.22.1

LOANS (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2022
LOANS |
Summary of Loans | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | March 31, | ​ | December 31,
(dollars in thousands) |  | 2022 |  | 2021
Outstanding principal balance: | ​ |  | ​ | ​ |  | ​
Loans secured by real estate: |  | ​ |  |  | ​ |
Residential properties: |  | ​ |  |  | ​ |
Multifamily | ​ | $ | 3,284,003 | ​ | $ | 2,886,055
Single family | ​ |  | 911,438 | ​ |  | 933,445
Total real estate loans secured by residential properties | ​ |  | 4,195,441 | ​ |  | 3,819,500
Commercial properties | ​ |  | 1,264,221 | ​ |  | 1,309,200
Land and construction | ​ |  | 159,533 | ​ |  | 156,028
Total real estate loans | ​ |  | 5,619,195 | ​ |  | 5,284,728
Commercial and industrial loans | ​ |  | 1,754,279 | ​ |  | 1,598,422
Consumer loans | ​ |  | 9,760 | ​ |  | 10,834
Total loans | ​ |  | 7,383,234 | ​ |  | 6,893,984
Premiums, discounts and deferred fees and expenses | ​ |  | 14,230 | ​ |  | 12,744
Total | ​ | $ | 7,397,464 | ​ | $ | 6,906,728
Summary of Delinquent and Nonaccrual Loans | The following table summarizes our delinquent and nonaccrual loans as of: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Past Due and Still Accruing | ​ | ​ | ​ | ​ | Total Past | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 90 Days | ​ | ​ | ​ | ​ | Due and | ​ | ​ | ​ | ​ | ​ | ​
(dollars in thousands) |  | 30–59 Days |  | 60-89 Days |  | or More |  | Nonaccrual |  | Nonaccrual |  | Current |  | Total
March 31, 2022: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Real estate loans: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Residential properties | ​ | $ | 1,748 | ​ | $ | — | ​ | $ | — | ​ | $ | 3,186 | ​ | $ | 4,934 | ​ | $ | 4,204,812 | ​ | $ | 4,209,746
Commercial properties | ​ |  | 2,892 | ​ |  | 936 | ​ |  | — | ​ |  | 4,401 | ​ |  | 8,229 | ​ |  | 1,256,568 | ​ |  | 1,264,797
Land and construction | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | 159,231 | ​ |  | 159,231
Commercial and industrial loans | ​ |  | 967 | ​ |  | 105 | ​ |  | — | ​ |  | 3,256 | ​ |  | 4,328 | ​ |  | 1,749,572 | ​ |  | 1,753,900
Consumer loans | ​ |  | 10 | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | 10 | ​ |  | 9,780 | ​ |  | 9,790
Total | ​ | $ | 5,617 | ​ | $ | 1,041 | ​ | $ | — | ​ | $ | 10,843 | ​ | $ | 17,501 | ​ | $ | 7,379,963 | ​ | $ | 7,397,464
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Percentage of total loans | ​ |  | 0.08 | % |  | 0.01 | % |  | — | % |  | 0.15 | % |  | 0.24 | % |  |  | ​ |  |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
December 31, 2021: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Real estate loans: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Residential properties | ​ | $ | 1,519 | ​ | $ | 310 | ​ | $ | — | ​ | $ | 3,281 | ​ | $ | 5,110 | ​ | $ | 3,827,385 | ​ | $ | 3,832,495
Commercial properties | ​ |  | 2,934 | ​ |  | — | ​ |  | — | ​ |  | 1,529 | ​ |  | 4,463 | ​ |  | 1,305,112 | ​ |  | 1,309,575
Land and construction | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | 155,926 | ​ |  | 155,926
Commercial and industrial loans | ​ |  | 303 | ​ |  | 260 | ​ |  | — | ​ |  | 3,520 | ​ |  | 4,083 | ​ |  | 1,593,782 | ​ |  | 1,597,865
Consumer loans | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | 10,867 | ​ |  | 10,867
Total | ​ | $ | 4,756 | ​ | $ | 570 | ​ | $ | — | ​ | $ | 8,330 | ​ | $ | 13,656 | ​ | $ | 6,893,072 | ​ | $ | 6,906,728
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Percentage of total loans | ​ |  | 0.07 | % |  | 0.01 | % |  | — | % |  | 0.12 | % |  | 0.20 | % |  |  | ​ |  |
Summary of nonaccrual loans | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Nonaccrual | ​ | Nonaccrual
​ | ​ | with Allowance | ​ | with no Allowance
(dollars in thousands) |  | for Credit Losses |  | for Credit Losses
March 31, 2022: | ​ |  | ​ | ​ |  |
Real estate loans: | ​ | ​ | ​ | ​ | ​ | ​
Residential properties | ​ | $ | — | ​ | $ | 3,186
Commercial properties | ​ | ​ | — | ​ | ​ | 4,401
Commercial and industrial loans | ​ |  | 1,227 | ​ |  | 2,029
Total | ​ | $ | 1,227 | ​ | $ | 9,616
​ | ​ | ​ | ​ | ​ | ​ | ​
December 31, 2021: | ​ |  | ​ | ​ |  |
Real estate loans: | ​ | ​ | ​ | ​ | ​ | ​
Residential properties | ​ | $ | — | ​ | $ | 3,280
Commercial properties | ​ | ​ | — | ​ | ​ | 1,529
Commercial and industrial loans | ​ |  | 1,733 | ​ |  | 1,788
Total | ​ | $ | 1,733 | ​ | $ | 6,597
Composition of TDRs by Accrual and Nonaccrual Status | The following table presents the loans classified as troubled debt restructurings (“TDR”) by accrual and nonaccrual status as of:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | March 31, 2022 | ​ | December 31, 2021
(dollars in thousands) | ​ | Accrual | ​ | Nonaccrual | ​ | Total | ​ | Accrual | ​ | Nonaccrual | ​ | Total
Residential loans |  | $ | — |  | $ | — |  | $ | — |  | $ | 1,200 |  | $ | — |  | $ | 1,200
Commercial real estate loans | ​ |  | 998 | ​ |  | 1,148 | ​ |  | 2,146 | ​ |  | 1,021 | ​ |  | 1,174 | ​ |  | 2,195
Commercial and industrial loans | ​ |  | 32 | ​ |  | 1,856 | ​ |  | 1,888 | ​ |  | 493 | ​ |  | 2,030 | ​ |  | 2,523
Total | ​ | $ | 1,030 | ​ | $ | 3,004 | ​ | $ | 4,034 | ​ | $ | 2,714 | ​ | $ | 3,204 | ​ | $ | 5,918
​ The following table provides information on loans that were modified as TDRs for the following periods:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Outstanding Recorded Investment | ​ | ​ | ​
(dollars in thousands) | ​ | Number of loans | ​ | Pre-Modification | ​ | Post-Modification | ​ | Financial Impact
Year Ended December 31, 2021 |  |  | ​ |  |  | ​ |  |  | ​ |  |
Commercial and industrial loans |  | 1 | ​ | $ | 346 | ​ | $ | 346 | ​ | $ | —
Total |  | 1 | ​ | $ | 346 | ​ | $ | 346 | ​ | $ | —
​ There were no loans modified as TDRs for the first three months of 2022. ​

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