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LOANS RECEIVABLE (Tables)
 6 Months Ended
Jun. 30, 2023
Receivables [Abstract]  
Summary of loans receivable A summary of loans receivable, net at June 30, 2023 and December 31, 2022, follows:
 June 30, 2023
(In thousands)
Residential one-to-four family$580,396 
Multifamily696,956 
Non-residential237,247 
Construction36,032 
Junior liens21,338 
Commercial and industrial9,743 
Consumer and other33 
Total loans1,581,745 
Allowance for credit losses on loans (1)(14,413)
Loans receivable, net$1,567,332 

December 31, 2022
(In thousands)
Residential one-to-four family$594,521 
Multifamily690,278 
Non-residential216,394 
Construction17,990 
Junior liens18,477 
Commercial and industrial4,682 
Consumer and other38 
Total gross loans1,542,380 
Deferred fees, costs and premiums and discounts, net2,747 
Total loans1,545,127 
Allowance for loan losses(13,400)
Loans receivable, net$1,531,727 
(1) For more information, see Footnote 4 - Allowance for Credit Losses.
Schedule of credit quality indicators
The following table presents the risk category of loans by class of loan and vintage based on the analysis performed as of June 30, 2023:
Term Loans by Origination Year
20232022202120202019Pre-2019Revolving LoansTotal
Residential one-to-four family
Pass$10,036 $100,456 $119,000 $15,343 $19,279 $308,798 $— $572,912 
Substandard— — — — — 7,484 — 7,484 
Total10,036 100,456 119,000 15,343 19,279 316,282 — 580,396 
Multifamily
Pass17,240 282,553 161,025 35,832 59,947 139,869 — 696,466 
Special mention— — — — — 330 — 330 
Substandard— — — — — 160 — 160 
Total17,240 282,553 161,025 35,832 59,947 140,359 — 696,956 
Non-residential
Pass25,820 120,496 14,929 15,310 5,481 54,175 — 236,211 
Special mention— — — — — 1,036 — 1,036 
Total25,820 120,496 14,929 15,310 5,481 55,211 — 237,247 
Construction
Pass8,291 13,972 13,654 — — 115 — 36,032 
Total8,291 13,972 13,654 — — 115 — 36,032 
Junior liens
Pass3,311 5,421 1,525 363 1,871 8,796 — 21,287 
Substandard— — — — — 51 — 51 
Total3,311 5,421 1,525 363 1,871 8,847 — 21,338 
Commercial and industrial
Pass6,289 110 3,109 170 — — — 9,678 
Substandard (1)— — 65 — — — — 65 
Total6,289 110 3,174 170 — — — 9,743 
Consumer and other
Pass18 — — — — — 15 33 
Total18 — — — — — 15 33 
Total gross loans$71,005 $523,008 $313,307 $67,018 $86,578 $520,814 $15 $1,581,745 
(1) Balance represents PPP loans which carry the federal guarantee of the SBA.
The following table presents the risk category of loans by class of loans based on the analysis performed as of December 31, 2022:
PassSpecial
Mention		SubstandardDoubtful /
Loss		Total
(In thousands)
Residential one-to-four family$589,137 $247 $7,870 $— $597,254 
Multifamily689,277 897 516 — 690,690 
Non-residential214,981 1,080 — — 216,061 
Construction17,799 — — — 17,799 
Junior liens18,579 — 52 — 18,631 
Commercial and Industrial4,653 — — — 4,653 
Consumer and other8 — 31 — 39 
Total$1,534,434 $2,224 $8,469 $— $1,545,127 
Summary of past due and current loans
The following table presents the recorded investment in past due and current loans by loan portfolio class as of June 30, 2023 and December 31, 2022:
30-59
Days
Past Due		60-89
Days
Past Due		90 Days
and Greater
Past Due		Total
Past Due		CurrentTotal
Loans
Receivable
(In thousands)
June 30, 2023
Residential one-to-four family$— $330 $6,318 $6,648 $573,748 $580,396 
Multifamily— — — — 696,956 696,956 
Non-residential— — — — 237,247 237,247 
Construction— — — — 36,032 36,032 
Junior liens— — 51 51 21,287 21,338 
Commercial and Industrial — — 65 65 9,678 9,743 
Consumer and other— — — — 33 33 
Total$— $330 $6,434 $6,764 $1,574,981 $1,581,745 
December 31, 2022
Residential one-to-four family$— $845 $6,738 $7,583 $589,671 $597,254 
Multifamily— — 182 182 690,508 690,690 
Non-residential— — — — 216,061 216,061 
Construction— — — — 17,799 17,799 
Junior liens— — 52 52 18,579 18,631 
Commercial and Industrial — — 96 96 4,557 4,653 
Consumer and other— — — — 39 39 
Total$— $845 $7,068 $7,913 $1,537,214 $1,545,127 
Summary of non-accrual loans and loans past due 90 days or more and still on accrual
The following table presents information on non-accrual loans at June 30, 2023:
Non-accrualInterest Income Recognized on Non-accrual LoansAmortized Cost Basis of Loans >= 90 Day Past Due and Still AccruingAmortized Cost Basis of Non-accrual Loans Without Related Allowance
(In thousands)
Residential one-to-four family$7,460 $— $— $7,460 
Multifamily160 — — 160 
Commercial and industrial65 — — 65 
Junior liens51 — — 51 
Total$7,736 $— $— $7,736 
The following table presents the recorded investment in non-accrual loans at December 31, 2022:
Non-accrualLoans Past Due
90 Days and Still Accruing
(In thousands)
Residential one-to-four family$7,498 $— 
Multifamily182 — 
Commercial and industrial (1)35 61 
Junior liens52 — 
Total$7,767 $61 
(1) Loans 90 days past due and accruing were comprised of PPP loans which carry the federal guarantee of the SBA.
Summary of impaired loans by class of loans
The following table presents, under previously applicable U.S. GAAP, information related to impaired loans by class of loans at and as of June 30, 2022 and at December 31, 2022:
June 30, 2022Six Months Ended June 30, 2022
Unpaid Principal BalanceRecorded InvestmentAllowance for Loan Losses AllocatedAverage Recorded InvestmentInterest
Income
Recognized		Cash Basis Interest Recognized
(In thousands)
With no related allowance recorded:
Residential one-to-four family$7,771 $8,054 $— $8,686 $61 $58 
Multifamily659 659 — 671 13 10 
Non-residential3,755 3,595 — 4,275 105 95 
Junior liens54 54 — 55 1 1 
12,239 12,362 — 13,687 180 164 
With an allowance recorded:
Residential one-to-four family1,122 1,125 30 743 23 20 
1,122 1,125 30 743 23 20 
Total$13,361 $13,487 $30 $14,430 $203 $184 
December 31, 2022
Unpaid Principal BalanceRecorded InvestmentAllowance for Loan Losses Allocated
(In thousands)
With no related allowance recorded:
Residential one-to-four family$7,368 $7,669 $— 
Multifamily516 516 — 
Non-residential2,834 2,671 — 
Junior liens52 52 — 
10,770 10,908 — 
With an allowance recorded:
Residential one-to-four family743 749 27 
743 749 27 
Total$11,513 $11,657 $27