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LOANS RECEIVABLE, NET (Tables) | 12 Months Ended
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Dec. 31, 2021
Receivables [Abstract] |
Summary of loans receivable | A summary of loans receivable, net is as follows:
| December 31, 2021 |  | December 31, 2020
| (In thousands)
Residential one-to-four family | $ | 560,976 |  |  | $ | 611,603 |
Multifamily | 515,240 |  |  | 427,436 |
Non-residential | 141,561 |  |  | 128,141 |
Construction and land | 23,419 |  |  | 33,691 |
Junior liens | 18,464 |  |  | 23,814 |
Commercial and industrial (including PPP) | 21,563 |  |  | 54,053 |
Consumer and other | 87 |  |  | 99 |
Total loans | 1,281,310 |  |  | 1,278,837 |
Deferred fees, costs and premiums and discounts, net | 6,299 |  |  | 5,236 |
Allowance for loan losses | (14,425) |  |  | (16,959) |
| (8,126) |  |  | (11,723) |
Loans receivable, net | $ | 1,273,184 |  |  | $ | 1,267,114 |
Summary of changes in allowance for loan losses by class of loans | The following tables present the activity in the Company’s allowance for loan losses by class of loans for the years ended December 31, 2021, and 2020:
| Residential One-To-Four Family |  | Multifamily |  | Non-Residential |  | Construction and Land |  | Junior Liens |  | Commercial and Industrial (including PPP) |  | Consumer and Other |  | Unallocated |  | Total
| (In thousands)
Year Ended December 31, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Allowance for loan losses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance | $ | 3,579 |  |  | $ | 5,460 |  |  | $ | 3,244 |  |  | $ | 3,655 |  |  | $ | 916 |  |  | $ | 2 |  |  | $ | 48 |  |  | $ | 55 |  |  | $ | 16,959 |
Charge-offs | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (16) |  |  | — |  |  | (16) |
Recoveries | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
(Recovery of) provision for loan losses | (757) |  |  | (197) |  |  | (398) |  |  | (977) |  |  | (280) |  |  | 49 |  |  | 6 |  |  | 36 |  |  | (2,518) |
Total ending allowance balance | $ | 2,822 |  |  | $ | 5,263 |  |  | $ | 2,846 |  |  | $ | 2,678 |  |  | $ | 636 |  |  | $ | 51 |  |  | $ | 38 |  |  | $ | 91 |  |  | $ | 14,425 |
Year Ended December 31, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Allowance for loan losses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance | $ | 3,446 |  |  | $ | 4,256 |  |  | $ | 2,548 |  |  | $ | 3,028 |  |  | $ | 1,002 |  |  | $ | — |  |  | $ | 56 |  |  | $ | 164 |  |  | $ | 14,500 |
Charge-offs | (49) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (10) |  |  | — |  |  | (59) |
Recoveries | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
(Recovery of) provision for loan losses | 182 |  |  | 1,204 |  |  | 696 |  |  | 627 |  |  | (86) |  |  | 2 |  |  | 2 |  |  | (109) |  |  | 2,518 |
Total ending allowance balance | $ | 3,579 |  |  | $ | 5,460 |  |  | $ | 3,244 |  |  | $ | 3,655 |  |  | $ | 916 |  |  | $ | 2 |  |  | $ | 48 |  |  | $ | 55 |  |  | $ | 16,959 |
The following table represents the allocation of allowance for loan losses and the related recorded investment (including deferred fees and costs) in loans by loan portfolio segment disaggregated based on the impairment methodology at December 31, 2021 and December 31, 2020:
| Residential One-To-Four Family |  | Multifamily |  | Non-Residential |  | Construction and Land |  | Junior Liens |  | Commercial and Industrial (including PPP) |  | Consumer and Other |  | Unallocated |  | Total
| (In thousands)
December 31, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Allowance for loan losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment | $ | 31 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 37 |  |  | $ | — |  |  | $ | 68 |
Collectively evaluated for impairment | 2,791 |  |  | 5,263 |  |  | 2,846 |  |  | 2,678 |  |  | 636 |  |  | 51 |  |  | 1 |  |  | 91 |  |  | 14,357 |
Total | $ | 2,822 |  |  | $ | 5,263 |  |  | $ | 2,846 |  |  | $ | 2,678 |  |  | $ | 636 |  |  | $ | 51 |  |  | $ | 38 |  |  | $ | 91 |  |  | $ | 14,425 |
Loans receivable: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment | $ | 10,169 |  |  | $ | 684 |  |  | $ | 4,577 |  |  | $ | — |  |  | $ | 55 |  |  | $ | — |  |  | $ | 37 |  |  | $ | — |  |  | $ | 15,522 |
Collectively evaluated for impairment | 556,314 |  |  | 515,884 |  |  | 136,957 |  |  | 23,420 |  |  | 18,495 |  |  | 20,966 |  |  | 51 |  |  |  |  | 1,272,087 |
Total | $ | 566,483 |  |  | $ | 516,568 |  |  | $ | 141,534 |  |  | $ | 23,420 |  |  | $ | 18,550 |  |  | $ | 20,966 |  |  | $ | 88 |  |  | $ | — |  |  | $ | 1,287,609 |
December 31, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Allowance for loan losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment | $ | 49 |  |  | $ | 26 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 46 |  |  | $ | — |  |  | $ | 121 |
Collectively evaluated for impairment | 3,530 |  |  | 5,434 |  |  | 3,244 |  |  | 3,655 |  |  | 916 |  |  | 2 |  |  | 2 |  |  | 55 |  |  | 16,838 |
Total | $ | 3,579 |  |  | $ | 5,460 |  |  | $ | 3,244 |  |  | $ | 3,655 |  |  | $ | 916 |  |  | $ | 2 |  |  | $ | 48 |  |  | $ | 55 |  |  | $ | 16,959 |
Loans receivable: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment | $ | 11,829 |  |  | $ | 1,721 |  |  | $ | 5,084 |  |  | $ | — |  |  | $ | 58 |  |  | $ | — |  |  | $ | 46 |  |  | $ | — |  |  | $ | 18,738 |
Collectively evaluated for impairment | 604,419 |  |  | 427,374 |  |  | 123,133 |  |  | 33,630 |  |  | 23,860 |  |  | 52,867 |  |  | 52 |  |  | — |  |  | 1,265,335 |
Total | $ | 616,248 |  |  | $ | 429,095 |  |  | $ | 128,217 |  |  | $ | 33,630 |  |  | $ | 23,918 |  |  | $ | 52,867 |  |  | $ | 98 |  |  | $ | — |  |  | $ | 1,284,073 |
Summary of impaired loans by class of loans | The following table presents information related to impaired loans by class of loans as of December 31, 2021 and December 31, 2020.
| Unpaid Principal Balance |  | Recorded Investment |  | Allowance for Loan Losses Allocated |  | Average Recorded Investment |  | Interest Income Recognized |  | Cash Basis Interest Recognized
| (In thousands)
December 31, 2021 |  |  |  |  |  |  |  |  |  |  |
With no related allowance recorded: |  |  |  |  |  |  |  |  |  |  |
Residential one-to-four family | $ | 8,744 |  |  | $ | 9,108 |  |  | $ | — |  |  | $ | 9,534 |  |  | $ | 75 |  |  | $ | 75 |
Multifamily | 684 |  |  | 684 |  |  | — |  |  | 1,170 |  |  | 26 |  |  | 24 |
Non-residential | 4,725 |  |  | 4,577 |  |  | — |  |  | 4,869 |  |  | 210 |  |  | 196 |
Construction and land | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Junior liens | 55 |  |  | 55 |  |  | — |  |  | 57 |  |  | 3 |  |  | 3 |
Commercial and Industrial (including PPP) | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
| 14,208 |  |  | 14,424 |  |  | — |  |  | 15,630 |  |  | 314 |  |  | 298 |
With an allowance recorded: |  |  |  |  |  |  |  |  |  |  |
Residential one-to-four family | 1,062 |  |  | 1,061 |  |  | 31 |  |  | 1,243 |  |  | 50 |  |  | 46 |
Multifamily | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Non-residential | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Construction and land | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Commercial and Industrial (including PPP) | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Consumer and other | 37 |  |  | 37 |  |  | 37 |  |  | 41 |  |  | 2 |  |  | 2 |
| 1,099 |  |  | 1,098 |  |  | 68 |  |  | 1,284 |  |  | 52 |  |  | 48 |
Total | $ | 15,307 |  |  | $ | 15,522 |  |  | $ | 68 |  |  | $ | 16,914 |  |  | $ | 366 |  |  | $ | 346 |
December 31, 2020 |  |  |  |  |  |  |  |  |  |  |
With no related allowance recorded: |  |  |  |  |  |  |  |  |  |  |
Residential one-to-four family | $ | 6,399 |  |  | $ | 6,508 |  |  | $ | — |  |  | $ | 473 |  |  | $ | 97 |  |  | $ | 96 |
Multifamily | 1,216 |  |  | 1,226 |  |  | — |  |  | 405 |  |  | 45 |  |  | 41 |
Non-residential | 6,006 |  |  | 5,812 |  |  | — |  |  | 2,410 |  |  | 207 |  |  | 201 |
Construction and land | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Junior liens | 60 |  |  | 59 |  |  | — |  |  | 27 |  |  | 1 |  |  | 1 |
Commercial and Industrial (including PPP) | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
| 13,681 |  |  | 13,605 |  |  | — |  |  | 3,315 |  |  | 350 |  |  | 339 |
With an allowance recorded: |  |  |  |  |  |  |  |  |  |  |
Residential one-to-four family | 1,519 |  |  | 1,521 |  |  | 108 |  |  | 679 |  |  | 53 |  |  | 47 |
Multifamily | 353 |  |  | 352 |  |  | 28 |  |  | 157 |  |  | 11 |  |  | 10 |
Non-residential | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Construction and land | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Commercial and Industrial (including PPP) | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Consumer and other | 49 |  |  | 48 |  |  | 48 |  |  | 23 |  |  | 1 |  |  | 1 |
| 1,921 |  |  | 1,921 |  |  | 184 |  |  | 859 |  |  | 65 |  |  | 58 |
Total | $ | 15,602 |  |  | $ | 15,526 |  |  | $ | 184 |  |  | $ | 4,174 |  |  | $ | 415 |  |  | $ | 397 |
Summary of past due loans in non-accrual and past 90 days still on accrual | The following table presents the recorded investment in non-accrual loans and loans past due 90 days or more still on accrual as of December 31, 2021 and December 31, 2020:
|  | Nonaccrual |  | Loans Past Due 90 Days and Still Accruing
|  | 12/31/2021 |  | 12/31/2020 |  | 12/31/2021 |  | 12/31/2020
|  | (In thousands)
Residential one-to-four family |  | $ | 10,805 |  |  | $ | 11,813 |  |  | $ | — |  |  | $ | — |
Multifamily |  | 139 |  |  | 156 |  |  | — |  |  | — |
Non-residential |  | 857 |  |  | 805 |  |  | — |  |  | — |
Construction and land |  | — |  |  | — |  |  | — |  |  | — |
Junior liens |  | 182 |  |  | 82 |  |  | — |  |  | — |
Commercial and industrial (including PPP) |  | — |  |  | — |  |  | 116 |  | (1) | — |
Total |  | $ | 11,983 |  |  | $ | 12,856 |  |  | $ | 116 |  |  | $ | — |
(1) PPP loans 90 days past due and accruing totaled $116 thousand. These PPP loans were not reported in non-performing loans as they carry the federal guarantee of the SBA. The following table presents the recorded investment in past due and current loans by loan portfolio class as of December 31, 2021 and December 31, 2020:
| 60-89 Days Past Due |  | 90 Days and Greater Past Due |  | Total Past Due |  | Current |  | Total Loans Receivable
| (In thousands)
December 31, 2021 |  |  |  |  |  |  |  |  |
Residential one-to-four family | $ | 457 |  |  | $ | 8,936 |  |  | $ | 9,393 |  |  | $ | 557,090 |  |  | $ | 566,483 |
Multifamily | — |  |  | — |  |  | — |  |  | 516,568 |  |  | 516,568 |
Non-residential | — |  |  | 381 |  |  | 381 |  |  | 141,153 |  |  | 141,534 |
Construction and land | — |  |  | — |  |  | — |  |  | 23,420 |  |  | 23,420 |
Junior liens | 53 |  |  | 182 |  |  | 235 |  |  | 18,315 |  |  | 18,550 |
Commercial and Industrial (including PPP) | 57 |  |  | 116 |  |  | 173 |  |  | 20,793 |  |  | 20,966 |
Consumer and other | — |  |  | — |  |  | — |  |  | 88 |  |  | 88 |
Total | $ | 567 |  |  | $ | 9,615 |  |  | $ | 10,182 |  |  | $ | 1,277,427 |  |  | $ | 1,287,609 |
December 31, 2020 |  |  |  |  |  |  |  |  |
Residential one-to-four family | $ | 3,151 |  |  | $ | 10,075 |  |  | $ | 13,226 |  |  | $ | 603,022 |  |  | $ | 616,248 |
Multifamily | — |  |  | 156 |  |  | 156 |  |  | 428,939 |  |  | 429,095 |
Non-residential | — |  |  | 805 |  |  | 805 |  |  | 127,412 |  |  | 128,217 |
Construction and land | 3,000 |  |  | — |  |  | 3,000 |  |  | 30,630 |  |  | 33,630 |
Junior liens | — |  |  | — |  |  | — |  |  | 23,918 |  |  | 23,918 |
Commercial and Industrial (including PPP) | — |  |  | — |  |  | — |  |  | 52,867 |  |  | 52,867 |
Consumer and other | — |  |  | — |  |  | — |  |  | 98 |  |  | 98 |
Total | $ | 6,151 |  |  | $ | 11,036 |  |  | $ | 17,187 |  |  | $ | 1,266,886 |  |  | $ | 1,284,073 |
Schedule of credit quality indicators | The following table presents the risk category of loans by class of loans based on the most recent analysis performed as of December 31, 2021 and December 31, 2020:
| Pass |  | Special Mention |  | Substandard |  | Doubtful / Loss |  | Total
| (In thousands)
December 31, 2021 |  |  |  |  |  |  |  |  |
Residential one-to-four family | $ | 555,184 |  |  | $ | — |  |  | $ | 11,299 |  |  | $ | — |  |  | $ | 566,483 |
Multifamily | 510,815 |  |  | 5,069 |  |  | 684 |  |  | — |  |  | 516,568 |
Non-residential | 140,377 |  |  | 144 |  |  | 1,013 |  |  | — |  |  | 141,534 |
Construction and land | 23,420 |  |  | — |  |  | — |  |  | — |  |  | 23,420 |
Junior liens | 18,368 |  |  | — |  |  | 182 |  |  | — |  |  | 18,550 |
Commercial and Industrial (including PPP) | 20,966 |  |  | — |  |  | — |  |  |  |  | 20,966 |
Consumer and other | 88 |  |  | — |  |  | — |  |  | — |  |  | 88 |
Total | $ | 1,269,218 |  |  | $ | 5,213 |  |  | $ | 13,178 |  |  | $ | — |  |  | $ | 1,287,609 |
December 31, 2020 |  |  |  |  |  |  |  |  |
Residential one-to-four family | $ | 604,167 |  |  | $ | — |  |  | $ | 12,081 |  |  | $ | — |  |  | $ | 616,248 |
Multifamily | 411,369 |  |  | 16,648 |  |  | 1,078 |  |  | — |  |  | 429,095 |
Non-residential | 127,089 |  |  | 154 |  |  | 974 |  |  | — |  |  | 128,217 |
Construction and land | 33,630 |  |  | — |  |  | — |  |  | — |  |  | 33,630 |
Junior liens | 23,836 |  |  | — |  |  | 82 |  |  | — |  |  | 23,918 |
Commercial and Industrial (including PPP) | 52,867 |  |  | — |  |  | — |  |  | — |  |  | 52,867 |
Consumer and other | 98 |  |  | — |  |  | — |  |  | — |  |  | 98 |
Total | $ | 1,253,056 |  |  | $ | 16,802 |  |  | $ | 14,215 |  |  | $ | — |  |  | $ | 1,284,073 |

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- Definition Tabular disclosure of financing receivables by credit quality indicator. The credit quality indicator is a statistic about the credit quality of financing receivables. Examples include, but not limited to, consumer credit risk scores, credit-rating-agency ratings, an entity's internal credit risk grades, loan-to-value ratios, collateral, collection experience and other internal metrics. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=124255953&loc=SL82919230-210447 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=123577603&loc=SL6953659-111524 + Details
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