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Loans | 12 Months Ended
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Dec. 31, 2019
Receivables [Abstract] |
Loans | Loans The Company’s loans, net of unearned income, consisted of the following as of December 31 of the years indicated.
(dollars in thousands) |  | 2019 |  | 2018
Real estate loans: |  |  |  |
One- to four-family first mortgage |  | $ | 430,820 |  |  | $ | 450,363 |
Home equity loans and lines |  | 79,812 |  |  | 83,976 |
Commercial real estate |  | 722,807 |  |  | 640,575 |
Construction and land |  | 195,748 |  |  | 193,597 |
Multi-family residential |  | 54,869 |  |  | 54,455 |
Total real estate loans |  | 1,484,056 |  |  | 1,422,966 |
Other loans: |  |  |  |
Commercial and industrial |  | 184,701 |  |  | 172,934 |
Consumer |  | 45,604 |  |  | 53,854 |
Total other loans |  | 230,305 |  |  | 226,788 |
Total loans |  | $ | 1,714,361 |  |  | $ | 1,649,754 |
The net discount on the Company’s acquired loans was $12,315,000 and $18,811,000 at December 31, 2019, and 2018, respectively, of which $5,664,000 and $7,865,000 for the same time periods, respectively, was related to impaired loans. In addition, loan balances as of December 31, 2019 and 2018 are reported net of $3,114,000 and $2,716,000, respectively, in unearned income. A summary of activity in the Company’s allowance for loan losses for the years ended December 31, 2019, 2018 and 2017 is as follows.
|  | For the Year Ended December 31, 2019 |  |  |  |  |  |  |  |
(dollars in thousands) |  | Beginning Balance |  | Charge-offs |  | Recoveries |  | Provision |  | Ending Balance
Originated loans: |  |  |  |  |  |  |  |  |  |
Allowance for loan losses: |  |  |  |  |  |  |  |  |  |
One- to four-family first mortgage |  | $ | 1,937 |  |  | $ | (4) |  |  | $ | — |  |  | $ | 113 |  |  | $ | 2,046 |
Home equity loans and lines |  | 1,031 |  |  | (42) |  |  | 16 |  |  | 49 |  |  | 1,054 |
Commercial real estate |  | 5,756 |  |  | (360) |  |  | — |  |  | 785 |  |  | 6,181 |
Construction and land |  | 2,280 |  |  | (6) |  |  | — |  |  | 146 |  |  | 2,420 |
Multi-family residential |  | 522 |  |  | — |  |  | — |  |  | 50 |  |  | 572 |
Commercial and industrial |  | 2,862 |  |  | (888) |  |  | 25 |  |  | 1,373 |  |  | 3,372 |
Consumer |  | 472 |  |  | (128) |  |  | 42 |  |  | 60 |  |  | 446 |
Total allowance for loan losses |  | $ | 14,860 |  |  | $ | (1,428) |  |  | $ | 83 |  |  | $ | 2,576 |  |  | $ | 16,091 |
Acquired loans: |  |  |  |  |  |  |  |  |  |
Allowance for loan losses: |  |  |  |  |  |  |  |  |  |
One- to four-family first mortgage |  | $ | 199 |  |  | $ | — |  |  | $ | — |  |  | $ | 470 |  |  | $ | 669 |
Home equity loans and lines |  | 48 |  |  | — |  |  | — |  |  | (18) |  |  | 30 |
Commercial real estate |  | 369 |  |  | — |  |  | — |  |  | (9) |  |  | 360 |
Construction and land |  | 5 |  |  | — |  |  | — |  |  | 245 |  |  | 250 |
Multi-family residential |  | 28 |  |  | — |  |  | — |  |  | (28) |  |  | — |
Commercial and industrial |  | 366 |  |  | (5) |  |  | — |  |  | (39) |  |  | 322 |
Consumer |  | 473 |  |  | (144) |  |  | — |  |  | (183) |  |  | 146 |
Total allowance for loan losses |  | $ | 1,488 |  |  | $ | (149) |  |  | $ | — |  |  | $ | 438 |  |  | $ | 1,777 |
|  | For the Year Ended December 31, 2019 |  |  |  |  |  |  |  |
(dollars in thousands) |  | Beginning Balance |  | Charge-offs |  | Recoveries |  | Provision |  | Ending Balance
Total loans: |  |  |  |  |  |  |  |  |  |
Allowance for loan losses: |  |  |  |  |  |  |  |  |  |
One- to four-family first mortgage |  | $ | 2,136 |  |  | $ | (4) |  |  | $ | — |  |  | $ | 583 |  |  | $ | 2,715 |
Home equity loans and lines |  | 1,079 |  |  | (42) |  |  | 16 |  |  | 31 |  |  | 1,084 |
Commercial real estate |  | 6,125 |  |  | (360) |  |  | — |  |  | 776 |  |  | 6,541 |
Construction and land |  | 2,285 |  |  | (6) |  |  | — |  |  | 391 |  |  | 2,670 |
Multi-family residential |  | 550 |  |  | — |  |  | — |  |  | 22 |  |  | 572 |
Commercial and industrial |  | 3,228 |  |  | (893) |  |  | 25 |  |  | 1,334 |  |  | 3,694 |
Consumer |  | 945 |  |  | (272) |  |  | 42 |  |  | (123) |  |  | 592 |
Total allowance for loan losses |  | $ | 16,348 |  |  | $ | (1,577) |  |  | $ | 83 |  |  | $ | 3,014 |  |  | $ | 17,868 |
|  | For the Year Ended December 31, 2018 |  |  |  |  |  |  |  |
(dollars in thousands) |  | Beginning Balance |  | Charge-offs |  | Recoveries |  | Provision |  | Ending Balance
Originated loans: |  |  |  |  |  |  |  |  |  |
Allowance for loan losses: |  |  |  |  |  |  |  |  |  |
One- to four-family first mortgage |  | $ | 1,574 |  |  | $ | (1) |  |  | $ | — |  |  | $ | 364 |  |  | $ | 1,937 |
Home equity loans and lines |  | 1,024 |  |  | — |  |  | 5 |  |  | 2 |  |  | 1,031 |
Commercial real estate |  | 4,766 |  |  | — |  |  | — |  |  | 990 |  |  | 5,756 |
Construction and land |  | 1,742 |  |  | — |  |  | — |  |  | 538 |  |  | 2,280 |
Multi-family residential |  | 355 |  |  | — |  |  | — |  |  | 167 |  |  | 522 |
Commercial and industrial |  | 4,346 |  |  | (2,506) |  |  | 158 |  |  | 864 |  |  | 2,862 |
Consumer |  | 496 |  |  | (74) |  |  | 16 |  |  | 34 |  |  | 472 |
Total allowance for loan losses |  | $ | 14,303 |  |  | $ | (2,581) |  |  | $ | 179 |  |  | $ | 2,959 |  |  | $ | 14,860 |
Acquired loans: |  |  |  |  |  |  |  |  |  |
Allowance for loan losses: |  |  |  |  |  |  |  |  |  |
One- to four-family first mortgage |  | $ | 89 |  |  | $ | — |  |  | $ | — |  |  | $ | 110 |  |  | $ | 199 |
Home equity loans and lines |  | 78 |  |  | — |  |  | — |  |  | (30) |  |  | 48 |
Commercial real estate |  | 140 |  |  | — |  |  | — |  |  | 229 |  |  | 369 |
Construction and land |  | 7 |  |  | — |  |  | — |  |  | (2) |  |  | 5 |
Multi-family residential |  | — |  |  | — |  |  | — |  |  | 28 |  |  | 28 |
Commercial and industrial |  | 184 |  |  | — |  |  | — |  |  | 182 |  |  | 366 |
Consumer |  | 6 |  |  | — |  |  | — |  |  | 467 |  |  | 473 |
Total allowance for loan losses |  | $ | 504 |  |  | $ | — |  |  | $ | — |  |  | $ | 984 |  |  | $ | 1,488 |
Total loans: |  |  |  |  |  |  |  |  |  |
Allowance for loan losses: |  |  |  |  |  |  |  |  |  |
One- to four-family first mortgage |  | $ | 1,663 |  |  | $ | (1) |  |  | $ | — |  |  | $ | 474 |  |  | $ | 2,136 |
Home equity loans and lines |  | 1,102 |  |  | — |  |  | 5 |  |  | (28) |  |  | 1,079 |
Commercial real estate |  | 4,906 |  |  | — |  |  | — |  |  | 1,219 |  |  | 6,125 |
Construction and land |  | 1,749 |  |  | — |  |  | — |  |  | 536 |  |  | 2,285 |
Multi-family residential |  | 355 |  |  | — |  |  | — |  |  | 195 |  |  | 550 |
Commercial and industrial |  | 4,530 |  |  | (2,506) |  |  | 158 |  |  | 1,046 |  |  | 3,228 |
Consumer |  | 502 |  |  | (74) |  |  | 16 |  |  | 501 |  |  | 945 |
Total allowance for loan losses |  | $ | 14,807 |  |  | $ | (2,581) |  |  | $ | 179 |  |  | $ | 3,943 |  |  | $ | 16,348 |
|  | For the Year Ended December 31, 2017 |  |  |  |  |  |  |  |
(dollars in thousands) |  | Beginning Balance |  | Charge-offs |  | Recoveries |  | Provision |  | Ending Balance
Originated loans: |  |  |  |  |  |  |  |  |  |
Allowance for loan losses: |  |  |  |  |  |  |  |  |  |
One- to four-family first mortgage |  | $ | 1,436 |  |  | $ | (29) |  |  | $ | — |  |  | $ | 167 |  |  | $ | 1,574 |
Home equity loans and lines |  | 654 |  |  | (10) |  |  | 20 |  |  | 360 |  |  | 1,024 |
Commercial real estate |  | 4,177 |  |  | (3) |  |  | — |  |  | 592 |  |  | 4,766 |
Construction and land |  | 1,763 |  |  | — |  |  | — |  |  | (21) |  |  | 1,742 |
Multi-family residential |  | 361 |  |  | — |  |  | — |  |  | (6) |  |  | 355 |
Commercial and industrial |  | 3,316 |  |  | (358) |  |  | 408 |  |  | 980 |  |  | 4,346 |
Consumer |  | 513 |  |  | (64) |  |  | 15 |  |  | 32 |  |  | 496 |
Total allowance for loan losses |  | $ | 12,220 |  |  | $ | (464) |  |  | $ | 443 |  |  | $ | 2,104 |  |  | $ | 14,303 |
Acquired loans: |  |  |  |  |  |  |  |  |  |
Allowance for loan losses: |  |  |  |  |  |  |  |  |  |
One- to four-family first mortgage |  | $ | 75 |  |  | $ | — |  |  | $ | — |  |  | $ | 14 |  |  | $ | 89 |
Home equity loans and lines |  | 74 |  |  | — |  |  | — |  |  | 4 |  |  | 78 |
Commercial real estate |  | — |  |  | — |  |  | — |  |  | 140 |  |  | 140 |
Construction and land |  | 19 |  |  | — |  |  | — |  |  | (12) |  |  | 7 |
Multi-family residential |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Commercial and industrial |  | 123 |  |  | — |  |  | — |  |  | 61 |  |  | 184 |
Consumer |  | — |  |  | — |  |  | — |  |  | 6 |  |  | 6 |
Total allowance for loan losses |  | $ | 291 |  |  | $ | — |  |  | $ | — |  |  | $ | 213 |  |  | $ | 504 |
Total loans: |  |  |  |  |  |  |  |  |  |
Allowance for loan losses: |  |  |  |  |  |  |  |  |  |
One- to four-family first mortgage |  | $ | 1,511 |  |  | $ | (29) |  |  | $ | — |  |  | $ | 181 |  |  | $ | 1,663 |
Home equity loans and lines |  | 728 |  |  | (10) |  |  | 20 |  |  | 364 |  |  | 1,102 |
Commercial real estate |  | 4,177 |  |  | (3) |  |  | — |  |  | 732 |  |  | 4,906 |
Construction and land |  | 1,782 |  |  | — |  |  | — |  |  | (33) |  |  | 1,749 |
Multi-family residential |  | 361 |  |  | — |  |  | — |  |  | (6) |  |  | 355 |
Commercial and industrial |  | 3,439 |  |  | (358) |  |  | 408 |  |  | 1,041 |  |  | 4,530 |
Consumer |  | 513 |  |  | (64) |  |  | 15 |  |  | 38 |  |  | 502 |
Total allowance for loan losses |  | $ | 12,511 |  |  | $ | (464) |  |  | $ | 443 |  |  | $ | 2,317 |  |  | $ | 14,807 |
The Company’s allowance for loan losses and recorded investment in loans as of the dates indicated is as follows.
|  | As of December 31, 2019 |  |  |  |  |  |
|  | Originated Loans |  |  |  |  |  |
(dollars in thousands) |  | Collectively Evaluated for Impairment |  | Individually Evaluated for Impairment |  | Acquired Loans |  | Total
Allowance for loan losses: |  |  |  |  |  |  |  |
One- to four-family first mortgage |  | $ | 2,046 |  |  | $ | — |  |  | $ | 669 |  |  | $ | 2,715 |
Home equity loans and lines |  | 706 |  |  | 348 |  |  | 30 |  |  | 1,084 |
Commercial real estate |  | 5,883 |  |  | 298 |  |  | 360 |  |  | 6,541 |
Construction and land |  | 2,420 |  |  | — |  |  | 250 |  |  | 2,670 |
Multi-family residential |  | 572 |  |  | — |  |  | — |  |  | 572 |
Commercial and industrial |  | 2,671 |  |  | 701 |  |  | 322 |  |  | 3,694 |
Consumer |  | 446 |  |  | — |  |  | 146 |  |  | 592 |
Total allowance for loan losses |  | $ | 14,744 |  |  | $ | 1,347 |  |  | $ | 1,777 |  |  | $ | 17,868 |
|  | As of December 31, 2019 |  |  |  |  |  |
|  | Originated Loans |  |  |  |  |  |
(dollars in thousands) |  | Collectively Evaluated for Impairment |  | Individually Evaluated for Impairment |  | Acquired Loans (1) |  | Total
Loans: |  |  |  |  |  |  |  |
One- to four-family first mortgage |  | $ | 251,159 |  |  | $ | 187 |  |  | $ | 179,474 |  |  | $ | 430,820 |
Home equity loans and lines |  | 56,180 |  |  | 784 |  |  | 22,848 |  |  | 79,812 |
Commercial real estate |  | 522,621 |  |  | 6,518 |  |  | 193,668 |  |  | 722,807 |
Construction and land |  | 173,687 |  |  | — |  |  | 22,061 |  |  | 195,748 |
Multi-family residential |  | 48,661 |  |  | — |  |  | 6,208 |  |  | 54,869 |
Commercial and industrial |  | 154,501 |  |  | 1,223 |  |  | 28,977 |  |  | 184,701 |
Consumer |  | 35,680 |  |  | — |  |  | 9,924 |  |  | 45,604 |
Total loans |  | $ | 1,242,489 |  |  | $ | 8,712 |  |  | $ | 463,160 |  |  | $ | 1,714,361 |
|  | As of December 31, 2018 |  |  |  |  |  |
|  | Originated Loans |  |  |  |  |  |
(dollars in thousands) |  | Collectively Evaluated for Impairment |  | Individually Evaluated for Impairment |  | Acquired Loans |  | Total
Allowance for loan losses: |  |  |  |  |  |  |  |
One- to four-family first mortgage |  | $ | 1,937 |  |  | $ | — |  |  | $ | 199 |  |  | $ | 2,136 |
Home equity loans and lines |  | 682 |  |  | 349 |  |  | 48 |  |  | 1,079 |
Commercial real estate |  | 5,272 |  |  | 484 |  |  | 369 |  |  | 6,125 |
Construction and land |  | 2,280 |  |  | — |  |  | 5 |  |  | 2,285 |
Multi-family residential |  | 522 |  |  | — |  |  | 28 |  |  | 550 |
Commercial and industrial |  | 2,541 |  |  | 321 |  |  | 366 |  |  | 3,228 |
Consumer |  | 472 |  |  | — |  |  | 473 |  |  | 945 |
Total allowance for loan losses |  | $ | 13,706 |  |  | $ | 1,154 |  |  | $ | 1,488 |  |  | $ | 16,348 |
|  | As of December 31, 2018 |  |  |  |  |  |
|  | Originated Loans |  |  |  |  |  |
(dollars in thousands) |  | Collectively Evaluated for Impairment |  | Individually Evaluated for Impairment |  | Acquired Loans (1) |  | Total
Loans: |  |  |  |  |  |  |  |
One- to four-family first mortgage |  | $ | 227,602 |  |  | $ | — |  |  | $ | 222,761 |  |  | $ | 450,363 |
Home equity loans and lines |  | 53,049 |  |  | 866 |  |  | 30,061 |  |  | 83,976 |
Commercial real estate |  | 432,217 |  |  | 7,059 |  |  | 201,299 |  |  | 640,575 |
Construction and land |  | 161,232 |  |  | — |  |  | 32,365 |  |  | 193,597 |
Multi-family residential |  | 42,222 |  |  | — |  |  | 12,233 |  |  | 54,455 |
Commercial and industrial |  | 131,250 |  |  | 1,952 |  |  | 39,732 |  |  | 172,934 |
Consumer |  | 37,711 |  |  | — |  |  | 16,143 |  |  | 53,854 |
Total loans |  | $ | 1,085,283 |  |  | $ | 9,877 |  |  | $ | 554,594 |  |  | $ | 1,649,754 |
_______________ (1)$7.4 million and $10.0 million in acquired loans were accounted for under ASC 310-30 at December 31, 2019 and 2018, respectively. Although the Company has a diversified loan portfolio, a substantial portion of the loan portfolio is collateralized by improved and unimproved real estate and is dependent, in part, on values in the real estate market. Credit quality indicators on the Company’s loan portfolio as of the dates indicated are as follows.
|  | December 31, 2019 |  |  |  |  |  |  |  |
(dollars in thousands) |  | Pass |  | Special Mention |  | Substandard |  | Doubtful |  | Total
Originated loans: |  |  |  |  |  |  |  |  |  |
One- to four-family first mortgage |  | $ | 248,483 |  |  | $ | 730 |  |  | $ | 2,133 |  |  | $ | — |  |  | $ | 251,346 |
Home equity loans and lines |  | 56,029 |  |  | 53 |  |  | 882 |  |  | — |  |  | 56,964 |
Commercial real estate |  | 517,615 |  |  | 207 |  |  | 11,317 |  |  | — |  |  | 529,139 |
Construction and land |  | 164,310 |  |  | 8,107 |  |  | 1,270 |  |  | — |  |  | 173,687 |
Multi-family residential |  | 48,661 |  |  | — |  |  | — |  |  | — |  |  | 48,661 |
Commercial and industrial |  | 153,286 |  |  | — |  |  | 2,438 |  |  | — |  |  | 155,724 |
Consumer |  | 35,545 |  |  | 46 |  |  | 89 |  |  | — |  |  | 35,680 |
Total originated loans |  | $ | 1,223,929 |  |  | $ | 9,143 |  |  | $ | 18,129 |  |  | $ | — |  |  | $ | 1,251,201 |
Acquired loans: |  |  |  |  |  |  |  |  |  |
One- to four-family first mortgage |  | $ | 173,482 |  |  | $ | 1,429 |  |  | $ | 4,563 |  |  | $ | — |  |  | $ | 179,474 |
Home equity loans and lines |  | 22,370 |  |  | 128 |  |  | 350 |  |  | — |  |  | 22,848 |
Commercial real estate |  | 181,090 |  |  | 1,593 |  |  | 10,985 |  |  | — |  |  | 193,668 |
Construction and land |  | 19,877 |  |  | 747 |  |  | 1,437 |  |  | — |  |  | 22,061 |
Multi-family residential |  | 5,487 |  |  | 502 |  |  | 219 |  |  | — |  |  | 6,208 |
Commercial and industrial |  | 24,856 |  |  | 56 |  |  | 4,065 |  |  | — |  |  | 28,977 |
Consumer |  | 9,668 |  |  | 166 |  |  | 90 |  |  | — |  |  | 9,924 |
Total acquired loans |  | $ | 436,830 |  |  | $ | 4,621 |  |  | $ | 21,709 |  |  | $ | — |  |  | $ | 463,160 |
|  | December 31, 2019 |  |  |  |  |  |  |  |
(dollars in thousands) |  | Pass |  | Special Mention |  | Substandard |  | Doubtful |  | Total
Total loans: |  |  |  |  |  |  |  |  |  |
One- to four-family first mortgage |  | $ | 421,965 |  |  | $ | 2,159 |  |  | $ | 6,696 |  |  | $ | — |  |  | $ | 430,820 |
Home equity loans and lines |  | 78,399 |  |  | 181 |  |  | 1,232 |  |  | — |  |  | 79,812 |
Commercial real estate |  | 698,705 |  |  | 1,800 |  |  | 22,302 |  |  | — |  |  | 722,807 |
Construction and land |  | 184,187 |  |  | 8,854 |  |  | 2,707 |  |  | — |  |  | 195,748 |
Multi-family residential |  | 54,148 |  |  | 502 |  |  | 219 |  |  | — |  |  | 54,869 |
Commercial and industrial |  | 178,142 |  |  | 56 |  |  | 6,503 |  |  | — |  |  | 184,701 |
Consumer |  | 45,213 |  |  | 212 |  |  | 179 |  |  | — |  |  | 45,604 |
Total loans |  | $ | 1,660,759 |  |  | $ | 13,764 |  |  | $ | 39,838 |  |  | $ | — |  |  | $ | 1,714,361 |
|  | December 31, 2018 |  |  |  |  |  |  |  |
(dollars in thousands) |  | Pass |  | Special Mention |  | Substandard |  | Doubtful |  | Total
Originated loans: |  |  |  |  |  |  |  |  |  |
One- to four-family first mortgage |  | $ | 221,930 |  |  | $ | 1,852 |  |  | $ | 3,820 |  |  | $ | — |  |  | $ | 227,602 |
Home equity loans and lines |  | 52,344 |  |  | 69 |  |  | 1,502 |  |  | — |  |  | 53,915 |
Commercial real estate |  | 425,851 |  |  | 4,463 |  |  | 8,962 |  |  | — |  |  | 439,276 |
Construction and land |  | 159,428 |  |  | — |  |  | 1,804 |  |  | — |  |  | 161,232 |
Multi-family residential |  | 42,222 |  |  | — |  |  | — |  |  | — |  |  | 42,222 |
Commercial and industrial |  | 126,126 |  |  | 1,717 |  |  | 5,359 |  |  | — |  |  | 133,202 |
Consumer |  | 37,312 |  |  | 126 |  |  | 273 |  |  | — |  |  | 37,711 |
Total originated loans |  | $ | 1,065,213 |  |  | $ | 8,227 |  |  | $ | 21,720 |  |  | $ | — |  |  | $ | 1,095,160 |
Acquired loans: |  |  |  |  |  |  |  |  |  |
One- to four-family first mortgage |  | $ | 213,199 |  |  | $ | 2,474 |  |  | $ | 7,088 |  |  | $ | — |  |  | $ | 222,761 |
Home equity loans and lines |  | 29,451 |  |  | 270 |  |  | 340 |  |  | — |  |  | 30,061 |
Commercial real estate |  | 183,514 |  |  | 5,189 |  |  | 12,596 |  |  | — |  |  | 201,299 |
Construction and land |  | 30,005 |  |  | 917 |  |  | 1,443 |  |  | — |  |  | 32,365 |
Multi-family residential |  | 11,401 |  |  | 582 |  |  | 250 |  |  | — |  |  | 12,233 |
Commercial and industrial |  | 35,918 |  |  | 1,376 |  |  | 2,438 |  |  | — |  |  | 39,732 |
Consumer |  | 15,521 |  |  | 262 |  |  | 360 |  |  | — |  |  | 16,143 |
Total acquired loans |  | $ | 519,009 |  |  | $ | 11,070 |  |  | $ | 24,515 |  |  | $ | — |  |  | $ | 554,594 |
Total loans: |  |  |  |  |  |  |  |  |  |
One- to four-family first mortgage |  | $ | 435,129 |  |  | $ | 4,326 |  |  | $ | 10,908 |  |  | $ | — |  |  | $ | 450,363 |
Home equity loans and lines |  | 81,795 |  |  | 339 |  |  | 1,842 |  |  | — |  |  | 83,976 |
Commercial real estate |  | 609,365 |  |  | 9,652 |  |  | 21,558 |  |  | — |  |  | 640,575 |
Construction and land |  | 189,433 |  |  | 917 |  |  | 3,247 |  |  | — |  |  | 193,597 |
Multi-family residential |  | 53,623 |  |  | 582 |  |  | 250 |  |  | — |  |  | 54,455 |
Commercial and industrial |  | 162,044 |  |  | 3,093 |  |  | 7,797 |  |  | — |  |  | 172,934 |
Consumer |  | 52,833 |  |  | 388 |  |  | 633 |  |  | — |  |  | 53,854 |
Total loans |  | $ | 1,584,222 |  |  | $ | 19,297 |  |  | $ | 46,235 |  |  | $ | — |  |  | $ | 1,649,754 |
The preceding classifications follow regulatory guidelines and can generally be described as follows: •Pass loans are of satisfactory quality. •Special mention loans have an existing weakness that could cause future impairment, including the deterioration of financial ratios, past due status, questionable management capabilities and possible reduction in the collateral values. •Substandard loans have an existing specific and well defined weakness that may include poor liquidity and deterioration of financial ratios. The loan may be past due and related deposit accounts experiencing overdrafts. Immediate corrective action is necessary. •Doubtful loans have specific weaknesses that are severe enough to make collection or liquidation in full highly questionable and improbable. In addition, residential loans are classified using an inter-regulatory agency methodology that incorporates, among other factors, the extent of delinquencies and loan-to-value ratios. These classifications were the most current available as of December 31, 2019 and 2018, respectively, and were generally updated within the prior three months. Age analysis of past due loans, as of the dates indicated, is as follows.
|  | December 31, 2019 |  |  |  |  |  |  |  |  |  |
(dollars in thousands) |  | 30-59 Days Past Due |  | 60-89 Days Past Due |  | Greater Than 90 Days Past Due |  | Total Past Due |  | Current Loans |  | Total Loans
Originated loans: |  |  |  |  |  |  |  |  |  |  |  |
Real estate loans: |  |  |  |  |  |  |  |  |  |  |  |
One- to four-family first mortgage |  | $ | 1,524 |  |  | $ | 173 |  |  | $ | 967 |  |  | $ | 2,664 |  |  | $ | 248,682 |  |  | $ | 251,346 |
Home equity loans and lines |  | 174 |  |  | — |  |  | 98 |  |  | 272 |  |  | 56,692 |  |  | 56,964 |
Commercial real estate |  | 1,124 |  |  | 1,448 |  |  | 8,056 |  |  | 10,628 |  |  | 518,511 |  |  | 529,139 |
Construction and land |  | — |  |  | — |  |  | 1,171 |  |  | 1,171 |  |  | 172,516 |  |  | 173,687 |
Multi-family residential |  | — |  |  | — |  |  | — |  |  | — |  |  | 48,661 |  |  | 48,661 |
Total real estate loans |  | 2,822 |  |  | 1,621 |  |  | 10,292 |  |  | 14,735 |  |  | 1,045,062 |  |  | 1,059,797 |
Other loans: |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  | 213 |  |  | 100 |  |  | 869 |  |  | 1,182 |  |  | 154,542 |  |  | 155,724 |
Consumer |  | 533 |  |  | 57 |  |  | 34 |  |  | 624 |  |  | 35,056 |  |  | 35,680 |
Total other loans |  | 746 |  |  | 157 |  |  | 903 |  |  | 1,806 |  |  | 189,598 |  |  | 191,404 |
Total originated loans |  | $ | 3,568 |  |  | $ | 1,778 |  |  | $ | 11,195 |  |  | $ | 16,541 |  |  | $ | 1,234,660 |  |  | $ | 1,251,201 |
Acquired loans: |  |  |  |  |  |  |  |  |  |  |  |
Real estate loans: |  |  |  |  |  |  |  |  |  |  |  |
One- to four-family first mortgage |  | $ | 4,555 |  |  | $ | 1,116 |  |  | $ | 1,108 |  |  | $ | 6,779 |  |  | $ | 172,695 |  |  | $ | 179,474 |
Home equity loans and lines |  | 267 |  |  | 93 |  |  | 330 |  |  | 690 |  |  | 22,158 |  |  | 22,848 |
Commercial real estate |  | 337 |  |  | 466 |  |  | 1,945 |  |  | 2,748 |  |  | 190,920 |  |  | 193,668 |
Construction and land |  | 413 |  |  | — |  |  | 1,170 |  |  | 1,583 |  |  | 20,478 |  |  | 22,061 |
Multi-family residential |  | — |  |  | — |  |  | — |  |  | — |  |  | 6,208 |  |  | 6,208 |
Total real estate loans |  | 5,572 |  |  | 1,675 |  |  | 4,553 |  |  | 11,800 |  |  | 412,459 |  |  | 424,259 |
Other loans: |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  | 3 |  |  | 57 |  |  | 792 |  |  | 852 |  |  | 28,125 |  |  | 28,977 |
Consumer |  | 259 |  |  | 127 |  |  | 60 |  |  | 446 |  |  | 9,478 |  |  | 9,924 |
Total other loans |  | 262 |  |  | 184 |  |  | 852 |  |  | 1,298 |  |  | 37,603 |  |  | 38,901 |
Total acquired loans |  | $ | 5,834 |  |  | $ | 1,859 |  |  | $ | 5,405 |  |  | $ | 13,098 |  |  | $ | 450,062 |  |  | $ | 463,160 |
|  | December 31, 2019 |  |  |  |  |  |  |  |  |  |
(dollars in thousands) |  | 30-59 Days Past Due |  | 60-89 Days Past Due |  | Greater Than 90 Days Past Due |  | Total Past Due |  | Current Loans |  | Total Loans
Total loans: |  |  |  |  |  |  |  |  |  |  |  |
Real estate loans: |  |  |  |  |  |  |  |  |  |  |  |
One- to four-family first mortgage |  | $ | 6,079 |  |  | $ | 1,289 |  |  | $ | 2,075 |  |  | $ | 9,443 |  |  | $ | 421,377 |  |  | $ | 430,820 |
Home equity loans and lines |  | 441 |  |  | 93 |  |  | 428 |  |  | 962 |  |  | 78,850 |  |  | 79,812 |
Commercial real estate |  | 1,461 |  |  | 1,914 |  |  | 10,001 |  |  | 13,376 |  |  | 709,431 |  |  | 722,807 |
Construction and land |  | 413 |  |  | — |  |  | 2,341 |  |  | 2,754 |  |  | 192,994 |  |  | 195,748 |
Multi-family residential |  | — |  |  | — |  |  | — |  |  | — |  |  | 54,869 |  |  | 54,869 |
Total real estate loans |  | 8,394 |  |  | 3,296 |  |  | 14,845 |  |  | 26,535 |  |  | 1,457,521 |  |  | 1,484,056 |
Other loans: |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  | 216 |  |  | 157 |  |  | 1,661 |  |  | 2,034 |  |  | 182,667 |  |  | 184,701 |
Consumer |  | 792 |  |  | 184 |  |  | 94 |  |  | 1,070 |  |  | 44,534 |  |  | 45,604 |
Total other loans |  | 1,008 |  |  | 341 |  |  | 1,755 |  |  | 3,104 |  |  | 227,201 |  |  | 230,305 |
Total loans |  | $ | 9,402 |  |  | $ | 3,637 |  |  | $ | 16,600 |  |  | $ | 29,639 |  |  | $ | 1,684,722 |  |  | $ | 1,714,361 |
|  | December 31, 2018 |  |  |  |  |  |  |  |  |  |
(dollars in thousands) |  | 30-59 Days Past Due |  | 60-89 Days Past Due |  | Greater Than 90 Days Past Due |  | Total Past Due |  | Current Loans |  | Total Loans
Originated loans: |  |  |  |  |  |  |  |  |  |  |  |
Real estate loans: |  |  |  |  |  |  |  |  |  |  |  |
One- to four-family first mortgage |  | $ | 3,913 |  |  | $ | 270 |  |  | $ | 64 |  |  | $ | 4,247 |  |  | $ | 223,355 |  |  | $ | 227,602 |
Home equity loans and lines |  | 326 |  |  | 61 |  |  | 41 |  |  | 428 |  |  | 53,487 |  |  | 53,915 |
Commercial real estate |  | 714 |  |  | 34 |  |  | 168 |  |  | 916 |  |  | 438,360 |  |  | 439,276 |
Construction and land |  | 576 |  |  | — |  |  | 740 |  |  | 1,316 |  |  | 159,916 |  |  | 161,232 |
Multi-family residential |  | — |  |  | — |  |  | — |  |  | — |  |  | 42,222 |  |  | 42,222 |
Total real estate loans |  | 5,529 |  |  | 365 |  |  | 1,013 |  |  | 6,907 |  |  | 917,340 |  |  | 924,247 |
Other loans: |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  | 362 |  |  | 1,369 |  |  | 265 |  |  | 1,996 |  |  | 131,206 |  |  | 133,202 |
Consumer |  | 319 |  |  | 131 |  |  | 196 |  |  | 646 |  |  | 37,065 |  |  | 37,711 |
Total other loans |  | 681 |  |  | 1,500 |  |  | 461 |  |  | 2,642 |  |  | 168,271 |  |  | 170,913 |
Total originated loans |  | $ | 6,210 |  |  | $ | 1,865 |  |  | $ | 1,474 |  |  | $ | 9,549 |  |  | $ | 1,085,611 |  |  | $ | 1,095,160 |
|  | December 31, 2018 |  |  |  |  |  |  |  |  |  |
(dollars in thousands) |  | 30-59 Days Past Due |  | 60-89 Days Past Due |  | Greater Than 90 Days Past Due |  | Total Past Due |  | Current Loans |  | Total Loans
Acquired loans: |  |  |  |  |  |  |  |  |  |  |  |
Real estate loans: |  |  |  |  |  |  |  |  |  |  |  |
One- to four-family first mortgage |  | $ | 4,196 |  |  | $ | 1,258 |  |  | $ | 3,702 |  |  | $ | 9,156 |  |  | $ | 213,605 |  |  | $ | 222,761 |
Home equity loans and lines |  | 462 |  |  | 116 |  |  | 163 |  |  | 741 |  |  | 29,320 |  |  | 30,061 |
Commercial real estate |  | 3,104 |  |  | 265 |  |  | 1,143 |  |  | 4,512 |  |  | 196,787 |  |  | 201,299 |
Construction and land |  | 1,050 |  |  | 488 |  |  | 813 |  |  | 2,351 |  |  | 30,014 |  |  | 32,365 |
Multi-family residential |  | 84 |  |  | — |  |  | — |  |  | 84 |  |  | 12,149 |  |  | 12,233 |
Total real estate loans |  | 8,896 |  |  | 2,127 |  |  | 5,821 |  |  | 16,844 |  |  | 481,875 |  |  | 498,719 |
Other loans: |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  | 4,315 |  |  | 109 |  |  | 329 |  |  | 4,753 |  |  | 34,979 |  |  | 39,732 |
Consumer |  | 357 |  |  | 277 |  |  | 262 |  |  | 896 |  |  | 15,247 |  |  | 16,143 |
Total other loans |  | 4,672 |  |  | 386 |  |  | 591 |  |  | 5,649 |  |  | 50,226 |  |  | 55,875 |
Total acquired loans |  | $ | 13,568 |  |  | $ | 2,513 |  |  | $ | 6,412 |  |  | $ | 22,493 |  |  | $ | 532,101 |  |  | $ | 554,594 |
Total loans: |  |  |  |  |  |  |  |  |  |  |  |
Real estate loans: |  |  |  |  |  |  |  |  |  |  |  |
One- to four-family first mortgage |  | $ | 8,109 |  |  | $ | 1,528 |  |  | $ | 3,766 |  |  | $ | 13,403 |  |  | $ | 436,960 |  |  | $ | 450,363 |
Home equity loans and lines |  | 788 |  |  | 177 |  |  | 204 |  |  | 1,169 |  |  | 82,807 |  |  | 83,976 |
Commercial real estate |  | 3,818 |  |  | 299 |  |  | 1,311 |  |  | 5,428 |  |  | 635,147 |  |  | 640,575 |
Construction and land |  | 1,626 |  |  | 488 |  |  | 1,553 |  |  | 3,667 |  |  | 189,930 |  |  | 193,597 |
Multi-family residential |  | 84 |  |  | — |  |  | — |  |  | 84 |  |  | 54,371 |  |  | 54,455 |
Total real estate loans |  | 14,425 |  |  | 2,492 |  |  | 6,834 |  |  | 23,751 |  |  | 1,399,215 |  |  | 1,422,966 |
Other loans: |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  | 4,677 |  |  | 1,478 |  |  | 594 |  |  | 6,749 |  |  | 166,185 |  |  | 172,934 |
Consumer |  | 676 |  |  | 408 |  |  | 458 |  |  | 1,542 |  |  | 52,312 |  |  | 53,854 |
Total other loans |  | 5,353 |  |  | 1,886 |  |  | 1,052 |  |  | 8,291 |  |  | 218,497 |  |  | 226,788 |
Total loans |  | $ | 19,778 |  |  | $ | 4,378 |  |  | $ | 7,886 |  |  | $ | 32,042 |  |  | $ | 1,617,712 |  |  | $ | 1,649,754 |
As of December 31, 2019 and 2018, the Company did not have any loans greater than 90 days past due which were accruing interest. An impaired loan generally is one for which it is probable, based on current information, that the lender will not collect all the amounts due under the contractual terms of the loan. The Company evaluates loans for impairment on an individual basis when it believes that there is a potential for loss. When a determination is made that a loan has deteriorated to the point of becoming a problem loan, updated valuations may be ordered to help determine if there is impairment, which may lead to a recommendation for partial charge off or appropriate allowance allocation. The following is a summary of information pertaining to the Company’s impaired loans, excluding acquired loans, as of the dates indicated.
|  | For the Year Ended December 31, 2019 |  |  |  |  |  |  |  |
(dollars in thousands) |  | Recorded Investment |  | Unpaid Principal Balance |  | Related Allowance |  | Average Recorded Investment |  | Interest Income Recognized
With no related allowance recorded: |  |  |  |  |  |  |  |  |  |
One- to four-family first mortgage |  | $ | 187 |  |  | $ | 187 |  |  | $ | — |  |  | $ | 109 |  |  | $ | — |
Home equity loans and lines |  | 404 |  |  | 450 |  |  | — |  |  | 418 |  |  | — |
Commercial real estate |  | 19 |  |  | 21 |  |  | — |  |  | 41 |  |  | — |
Construction and land |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Multi-family residential |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Commercial and industrial |  | 291 |  |  | 329 |  |  | — |  |  | 1,063 |  |  | — |
Consumer |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total |  | $ | 901 |  |  | $ | 987 |  |  | $ | — |  |  | $ | 1,631 |  |  | $ | — |
With an allowance recorded: |  |  |  |  |  |  |  |  |  |
One- to four-family first mortgage |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Home equity loans and lines |  | 380 |  |  | 425 |  |  | 348 |  |  | 400 |  |  | — |
Commercial real estate |  | 6,499 |  |  | 6,587 |  |  | 298 |  |  | 6,639 |  |  | 15 |
Construction and land |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Multi-family residential |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Commercial and industrial |  | 932 |  |  | 1,214 |  |  | 701 |  |  | 566 |  |  | — |
Consumer |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total |  | $ | 7,811 |  |  | $ | 8,226 |  |  | $ | 1,347 |  |  | $ | 7,605 |  |  | $ | 15 |
Total impaired loans: |  |  |  |  |  |  |  |  |  |
One- to four-family first mortgage |  | $ | 187 |  |  | $ | 187 |  |  | $ | — |  |  | $ | 109 |  |  | $ | — |
Home equity loans and lines |  | 784 |  |  | 875 |  |  | 348 |  |  | 818 |  |  | — |
Commercial real estate |  | 6,518 |  |  | 6,608 |  |  | 298 |  |  | 6,680 |  |  | 15 |
Construction and land |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Multi-family residential |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Commercial and industrial |  | 1,223 |  |  | 1,543 |  |  | 701 |  |  | 1,629 |  |  | — |
Consumer |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total |  | $ | 8,712 |  |  | $ | 9,213 |  |  | $ | 1,347 |  |  | $ | 9,236 |  |  | $ | 15 |
|  | For the Year Ended December 31, 2018 |  |  |  |  |  |  |  |
(dollars in thousands) |  | Recorded Investment |  | Unpaid Principal Balance |  | Related Allowance |  | Average Recorded Investment |  | Interest Income Recognized
With no related allowance recorded: |  |  |  |  |  |  |  |  |  |
One- to four-family first mortgage |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Home equity loans and lines |  | 441 |  |  | 476 |  |  | — |  |  | 454 |  |  | — |
Commercial real estate |  | 149 |  |  | 161 |  |  | — |  |  | 32 |  |  | 7 |
Construction and land |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Multi-family residential |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Commercial and industrial |  | 1,540 |  |  | 1,904 |  |  | — |  |  | 438 |  |  | — |
Consumer |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total |  | $ | 2,130 |  |  | $ | 2,541 |  |  | $ | — |  |  | $ | 924 |  |  | $ | 7 |
|  | For the Year Ended December 31, 2018 |  |  |  |  |  |  |  |
(dollars in thousands) |  | Recorded Investment |  | Unpaid Principal Balance |  | Related Allowance |  | Average Recorded Investment |  | Interest Income Recognized
With an allowance recorded: |  |  |  |  |  |  |  |  |  |
One- to four-family first mortgage |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Home equity loans and lines |  | 425 |  |  | 457 |  |  | 349 |  |  | 440 |  |  | — |
Commercial real estate |  | 6,910 |  |  | 6,910 |  |  | 484 |  |  | 2,057 |  |  | 38 |
Construction and land |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Multi-family residential |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Commercial and industrial |  | 412 |  |  | 442 |  |  | 321 |  |  | 1,367 |  |  | 1 |
Consumer |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total |  | $ | 7,747 |  |  | $ | 7,809 |  |  | $ | 1,154 |  |  | $ | 3,864 |  |  | $ | 39 |
Total impaired loans: |  |  |  |  |  |  |  |  |  |
One- to four-family first mortgage |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Home equity loans and lines |  | 866 |  |  | 933 |  |  | 349 |  |  | 894 |  |  | — |
Commercial real estate |  | 7,059 |  |  | 7,071 |  |  | 484 |  |  | 2,089 |  |  | 45 |
Construction and land |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Multi-family residential |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Commercial and industrial |  | 1,952 |  |  | 2,346 |  |  | 321 |  |  | 1,805 |  |  | 1 |
Consumer |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total |  | $ | 9,877 |  |  | $ | 10,350 |  |  | $ | 1,154 |  |  | $ | 4,788 |  |  | $ | 46 |
|  | For the Year Ended December 31, 2017 |  |  |  |  |  |  |  |
(dollars in thousands) |  | Recorded Investment |  | Unpaid Principal Balance |  | Related Allowance |  | Average Recorded Investment |  | Interest Income Recognized
With no related allowance recorded: |  |  |  |  |  |  |  |  |  |
One- to four-family first mortgage |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Home equity loans and lines |  | 470 |  |  | 476 |  |  | — |  |  | 395 |  |  | 1 |
Commercial real estate |  | 22 |  |  | 32 |  |  | — |  |  | 19 |  |  | — |
Construction and land |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Multi-family residential |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Commercial and industrial |  | 428 |  |  | 434 |  |  | — |  |  | 2,849 |  |  | 2 |
Consumer |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total |  | $ | 920 |  |  | $ | 942 |  |  | $ | — |  |  | $ | 3,263 |  |  | $ | 3 |
With an allowance recorded: |  |  |  |  |  |  |  |  |  |
One- to four-family first mortgage |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 42 |  |  | $ | — |
Home equity loans and lines |  | 455 |  |  | 461 |  |  | 348 |  |  | 383 |  |  | 1 |
Commercial real estate |  | — |  |  | — |  |  | — |  |  | 296 |  |  | — |
Construction and land |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Multi-family residential |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Commercial and industrial |  | 2,084 |  |  | 2,157 |  |  | 1,625 |  |  | 1,985 |  |  | 52 |
Consumer |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total |  | $ | 2,539 |  |  | $ | 2,618 |  |  | $ | 1,973 |  |  | $ | 2,706 |  |  | $ | 53 |
|  | For the Year Ended December 31, 2017 |  |  |  |  |  |  |  |
(dollars in thousands) |  | Recorded Investment |  | Unpaid Principal Balance |  | Related Allowance |  | Average Recorded Investment |  | Interest Income Recognized
Total impaired loans: |  |  |  |  |  |  |  |  |  |
One- to four-family first mortgage |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 42 |  |  | $ | — |
Home equity loans and lines |  | 925 |  |  | 937 |  |  | 348 |  |  | 778 |  |  | 2 |
Commercial real estate |  | 22 |  |  | 32 |  |  | — |  |  | 315 |  |  | — |
Construction and land |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Multi-family residential |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Commercial and industrial |  | 2,512 |  |  | 2,591 |  |  | 1,625 |  |  | 4,834 |  |  | 54 |
Consumer |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total |  | $ | 3,459 |  |  | $ | 3,560 |  |  | $ | 1,973 |  |  | $ | 5,969 |  |  | $ | 56 |
The Company reviews its significant nonaccrual loans for specific impairment in accordance with its allowance for loan loss methodology. If it is determined that losses are probable when other credit quality indicators are considered, the loan is considered impaired and the Company specifically allocates a portion of the allowance for loan losses to these loans. A summary of information pertaining to the Company’s nonaccrual loans as of December 31, 2019 and 2018 is as follows.
|  | December 31, 2019 |  |  |  |  |  | December 31, 2018 |  |  |  |
(dollars in thousands) |  | Originated |  | Acquired (1) |  | Total |  | Originated |  | Acquired (1) |  | Total
Nonaccrual loans: |  |  |  |  |  |  |  |  |  |  |  |
One- to four-family first mortgage |  | $ | 2,133 |  |  | $ | 1,815 |  |  | $ | 3,948 |  |  | $ | 1,984 |  |  | $ | 3,188 |  |  | $ | 5,172 |
Home equity loans and lines |  | 883 |  |  | 361 |  |  | 1,244 |  |  | 1,457 |  |  | 242 |  |  | 1,699 |
Commercial real estate |  | 8,750 |  |  | 4,575 |  |  | 13,325 |  |  | 7,940 |  |  | 3,403 |  |  | 11,343 |
Construction and land |  | 1,170 |  |  | 1,299 |  |  | 2,469 |  |  | 740 |  |  | 854 |  |  | 1,594 |
Multi-family residential |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Commercial and industrial |  | 1,603 |  |  | 1,621 |  |  | 3,224 |  |  | 2,986 |  |  | 1,002 |  |  | 3,988 |
Consumer |  | 89 |  |  | 87 |  |  | 176 |  |  | 273 |  |  | 343 |  |  | 616 |
Total |  | $ | 14,628 |  |  | $ | 9,758 |  |  | $ | 24,386 |  |  | $ | 15,380 |  |  | $ | 9,032 |  |  | $ | 24,412 |
_______________ (1)Table excludes acquired loans which were being accounted for under ASC 310-30 because they continue to earn interest from accretable yield regardless of their past due status or otherwise resulting in noncompliance with their contractual terms. Acquired loans with deteriorated credit quality, which were being accounted for under ASC 310-30 and which were 90 days or more past due, totaled $2.2 million and $1.7 million as of December 31, 2019 and 2018, respectively. As of December 31, 2019, the Company was not committed to lend additional funds to any customer whose loan was classified as impaired. As of December 31, 2019 and 2018, the Company had accrued interest receivable for loans of $6,575,000 and $7,017,000, respectively. Troubled Debt Restructurings During the course of its lending operations, the Company periodically grants concessions to its customers in an attempt to protect as much of its investment as possible and to minimize risk of loss. These concessions may include restructuring the terms of a customer loan to alleviate the burden of the customer’s near-term cash requirements. The Company must conclude that the restructuring of a loan to a borrower who is experiencing financial difficulties constitutes a “concession”. The Company defines a concession as a modification of existing terms granted to a borrower for economic or legal reasons related to the borrower’s financial difficulties that the Company would otherwise not consider. The concession is either granted through an agreement with the customer or is imposed by a court or by a law. Concessions include modifying original loan terms to reduce or defer cash payments required as part of the loan agreement, including but not limited to: •a reduction of the stated interest rate for the remaining original life of the debt, •an extension of the maturity date or dates at an interest rate lower than the current market rate for new debt with similar risk characteristics, •a reduction of the face amount or maturity amount of the debt or •a reduction of accrued interest receivable on the debt. In its determination of whether the customer is experiencing financial difficulties, the Company considers numerous indicators, including, but not limited to: •whether the customer is currently in default on its existing loan, or is in an economic position where it is probable the customer will be in default on its loan in the foreseeable future without a modification, •whether the customer has declared or is in the process of declaring bankruptcy, •whether there is substantial doubt about the customer’s ability to continue as a going concern, •whether, based on its projections of the customer’s current capabilities, the Company believes the customer’s future cash flows will be insufficient to service the debt, including interest, in accordance with the contractual terms of the existing agreement for the foreseeable future and •whether, without modification, the customer cannot obtain sufficient funds from other sources at an effective interest rate equal to the current market rate for similar debt for a non-troubled debtor. If the Company concludes that both a concession has been granted and the concession was granted to a customer experiencing financial difficulties, the Company identifies the loan as a TDR. For purposes of the determination of an allowance for loan losses on TDRs, such loans are reviewed for specific impairment in accordance with the Company’s allowance for loan loss methodology. If it is determined that losses are probable on such TDRs, either because of delinquency or other credit quality indicators, the Company specifically allocates a portion of the allowance for loan losses to these loans. Information about the Company’s TDRs is presented in the following tables.
|  | As of December 31, 2019 |  |  |  |  |  |
(dollars in thousands) |  | Current |  | Past Due Greater Than 30 Days |  | Nonaccrual TDRs |  | Total TDRs
Originated loans: |  |  |  |  |  |  |  |
Real estate loans: |  |  |  |  |  |  |  |
One- to four-family first mortgage |  | $ | 671 |  |  | $ | 82 |  |  | $ | 1,370 |  |  | $ | 2,123 |
Home equity loans and lines |  | 235 |  |  | 53 |  |  | 36 |  |  | 324 |
Commercial real estate |  | 670 |  |  | — |  |  | 5,824 |  |  | 6,494 |
Construction and land |  | 100 |  |  | — |  |  | — |  |  | 100 |
Multi-family residential |  | — |  |  | — |  |  | — |  |  | — |
Total real estate loans |  | 1,676 |  |  | 135 |  |  | 7,230 |  |  | 9,041 |
Other loans: |  |  |  |  |  |  |  |
Commercial and industrial |  | — |  |  | — |  |  | 303 |  |  | 303 |
Consumer |  | 92 |  |  | — |  |  | 54 |  |  | 146 |
Total other loans |  | 92 |  |  | — |  |  | 357 |  |  | 449 |
Total loans |  | $ | 1,768 |  |  | $ | 135 |  |  | $ | 7,587 |  |  | $ | 9,490 |
|  | As of December 31, 2019 |  |  |  |  |  |
(dollars in thousands) |  | Current |  | Past Due Greater Than 30 Days |  | Nonaccrual TDRs |  | Total TDRs
Acquired loans: |  |  |  |  |  |  |  |
Real estate loans: |  |  |  |  |  |  |  |
One- to four-family first mortgage |  | $ | 365 |  |  | $ | — |  |  | $ | 617 |  |  | $ | 982 |
Home equity loans and lines |  | — |  |  | — |  |  | 20 |  |  | 20 |
Commercial real estate |  | 90 |  |  | — |  |  | 194 |  |  | 284 |
Construction and land |  | — |  |  | — |  |  | — |  |  | — |
Multi-family residential |  | — |  |  | — |  |  | — |  |  | — |
Total real estate loans |  | 455 |  |  | — |  |  | 831 |  |  | 1,286 |
Other loans: |  |  |  |  |  |  |  |
Commercial and industrial |  | — |  |  | — |  |  | 1,362 |  |  | 1,362 |
Consumer |  | 20 |  |  | — |  |  | 25 |  |  | 45 |
Total other loans |  | 20 |  |  | — |  |  | 1,387 |  |  | 1,407 |
Total loans |  | $ | 475 |  |  | $ | — |  |  | $ | 2,218 |  |  | $ | 2,693 |
Total loans: |  |  |  |  |  |  |  |
Real estate loans: |  |  |  |  |  |  |  |
One- to four-family first mortgage |  | $ | 1,036 |  |  | $ | 82 |  |  | $ | 1,987 |  |  | $ | 3,105 |
Home equity loans and lines |  | 235 |  |  | 53 |  |  | 56 |  |  | 344 |
Commercial real estate |  | 760 |  |  | — |  |  | 6,018 |  |  | 6,778 |
Construction and land |  | 100 |  |  | — |  |  | — |  |  | 100 |
Multi-family residential |  | — |  |  | — |  |  | — |  |  | — |
Total real estate loans |  | 2,131 |  |  | 135 |  |  | 8,061 |  |  | 10,327 |
Other loans: |  |  |  |  |  |  |  |
Commercial and industrial |  | — |  |  | — |  |  | 1,665 |  |  | 1,665 |
Consumer |  | 112 |  |  | — |  |  | 79 |  |  | 191 |
Total other loans |  | 112 |  |  | — |  |  | 1,744 |  |  | 1,856 |
Total loans |  | $ | 2,243 |  |  | $ | 135 |  |  | $ | 9,805 |  |  | $ | 12,183 |
|  | As of December 31, 2018 |  |  |  |  |  |
(dollars in thousands) |  | Current |  | Past Due Greater Than 30 Days |  | Nonaccrual TDRs |  | Total TDRs
Originated loans: |  |  |  |  |  |  |  |
Real estate loans: |  |  |  |  |  |  |  |
One- to four-family first mortgage |  | $ | 218 |  |  | $ | — |  |  | $ | 1,920 |  |  | $ | 2,138 |
Home equity loans and lines |  | — |  |  | 44 |  |  | 565 |  |  | 609 |
Commercial real estate |  | 722 |  |  | — |  |  | 7,293 |  |  | 8,015 |
Construction and land |  | 133 |  |  | — |  |  | — |  |  | 133 |
Multi-family residential |  | — |  |  | — |  |  | — |  |  | — |
Total real estate loans |  | 1,073 |  |  | 44 |  |  | 9,778 |  |  | 10,895 |
Other loans: |  |  |  |  |  |  |  |
Commercial and industrial |  | — |  |  | — |  |  | 424 |  |  | 424 |
Consumer |  | — |  |  | — |  |  | 77 |  |  | 77 |
Total other loans |  | — |  |  | — |  |  | 501 |  |  | 501 |
Total loans |  | $ | 1,073 |  |  | $ | 44 |  |  | $ | 10,279 |  |  | $ | 11,396 |
|  | As of December 31, 2018 |  |  |  |  |  |
(dollars in thousands) |  | Current |  | Past Due Greater Than 30 Days |  | Nonaccrual TDRs |  | Total TDRs
Acquired loans: |  |  |  |  |  |  |  |
Real estate loans: |  |  |  |  |  |  |  |
One- to four-family first mortgage |  | $ | 214 |  |  | $ | — |  |  | $ | 647 |  |  | $ | 861 |
Home equity loans and lines |  | — |  |  | — |  |  | 66 |  |  | 66 |
Commercial real estate |  | — |  |  | — |  |  | 2,682 |  |  | 2,682 |
Construction and land |  | — |  |  | — |  |  | — |  |  | — |
Multi-family residential |  | — |  |  | — |  |  | — |  |  | — |
Total real estate loans |  | 214 |  |  | — |  |  | 3,395 |  |  | 3,609 |
Other loans: |  |  |  |  |  |  |  |
Commercial and industrial |  | 68 |  |  | — |  |  | 740 |  |  | 808 |
Consumer |  | 7 |  |  | — |  |  | 35 |  |  | 42 |
Total other loans |  | 75 |  |  | — |  |  | 775 |  |  | 850 |
Total loans |  | $ | 289 |  |  | $ | — |  |  | $ | 4,170 |  |  | $ | 4,459 |
Total loans: |  |  |  |  |  |  |  |
Real estate loans: |  |  |  |  |  |  |  |
One- to four-family first mortgage |  | $ | 432 |  |  | $ | — |  |  | $ | 2,567 |  |  | $ | 2,999 |
Home equity loans and lines |  | — |  |  | 44 |  |  | 631 |  |  | 675 |
Commercial real estate |  | 722 |  |  | — |  |  | 9,975 |  |  | 10,697 |
Construction and land |  | 133 |  |  | — |  |  | — |  |  | 133 |
Multi-family residential |  | — |  |  | — |  |  | — |  |  | — |
Total real estate loans |  | 1,287 |  |  | 44 |  |  | 13,173 |  |  | 14,504 |
Other loans: |  |  |  |  |  |  |  |
Commercial and industrial |  | 68 |  |  | — |  |  | 1,164 |  |  | 1,232 |
Consumer |  | 7 |  |  | — |  |  | 112 |  |  | 119 |
Total other loans |  | 75 |  |  | — |  |  | 1,276 |  |  | 1,351 |
Total loans |  | $ | 1,362 |  |  | $ | 44 |  |  | $ | 14,449 |  |  | $ | 15,855 |
A summary of information pertaining to loans modified as of the periods indicated is as follows.
|  | For the Year Ended December 31 |  |  |  |  |  |  |  |  |  |
|  | 2019 |  |  |  |  |  | 2018 |  |  |  |
(dollars in thousands) |  | Number of Contracts |  | Pre- modification Outstanding Recorded Investment |  | Post- modification Outstanding Recorded Investment |  | Number of Contracts |  | Pre- modification Outstanding Recorded Investment |  | Post- modification Outstanding Recorded Investment
Troubled debt restructurings: |  |  |  |  |  |  |  |  |  |  |  |
One- to four-family first mortgage |  | 6 |  |  | $ | 932 |  |  | $ | 919 |  |  | 8 |  |  | $ | 3,195 |  |  | $ | 1,974 |
Home equity loans and lines |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Commercial real estate |  | 2 |  |  | 193 |  |  | 192 |  |  | 5 |  |  | 10,105 |  |  | 9,603 |
Construction and land |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Multi-family residential |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Commercial and industrial |  | 18 |  |  | 842 |  |  | 820 |  |  | 2 |  |  | 697 |  |  | 635 |
Other consumer |  | 6 |  |  | 78 |  |  | 70 |  |  | 4 |  |  | 44 |  |  | 42 |
Total |  | 32 |  |  | $ | 2,045 |  |  | $ | 2,001 |  |  | 19 |  |  | $ | 14,041 |  |  | $ | 12,254 |
As of December 31, 2019 and 2018 the Company had no unfunded commitments to borrowers whose loan terms had been modified through troubled debt restructurings. Two residential mortgages totaling $617,000 and two consumer loans totaling $10,000 were modified during the year ended December 31, 2019 and defaulted within twelve months of modification. The defaults did not have a significant impact on our allowance for loan losses at December 31, 2019. Four commercial real estate loans totaling $7,022,000, two commercial and industrial loans totaling $714,000, six residential mortgages totaling $619,000 and two consumer loans totaling $32,000 were modified during the year ended December 31, 2018 and defaulted within twelve months of modification. Two of the defaulted commercial real estate loans, totaling $6,910,000 at December 31, 2018, were individually evaluated for impairment to determine the allowance for loan losses for the year ended December 31, 2018. The remaining defaults did not have a significant impact on the allowance for loan losses for the year ended December 31, 2018.

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- Definition The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -URI http://asc.fasb.org/subtopic&trid=2196772 + Details
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