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Loans Receivable and Allowance for Loan Losses (Tables) | 6 Months Ended
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Jun. 30, 2021
Loans Receivable and Allowance for Loan Losses [Abstract] |
Recorded Investment in Loans Receivable |
| June 30, 2021 |  | December 31, 2020
|  | (In Thousands)
Residential one-to-four family | $ | 229,365 |  | $ | 244,369
Commercial and multi-family |  | 1,714,848 |  |  | 1,690,836
Construction |  | 181,312 |  |  | 155,967
Commercial business(1) |  | 172,129 |  |  | 184,357
Home equity(2) |  | 53,333 |  |  | 53,667
Consumer |  | 459 |  |  | 822
|  | 2,351,446 |  |  | 2,330,018
Less: |  |  |  |  |
Deferred loan fees, net |  | (1,415) |  |  | (1,358)
Allowance for loan losses |  | (37,472) |  |  | (33,639)
Sub-total |  | (38,887) |  |  | (34,997)
Total Loans, net | $ | 2,312,559 |  | $ | 2,295,021
(1) Includes business lines of credit. |  |  |  |  |
(2) Includes home equity lines of credit. |  |  |  |  |
Allowance for Loan Losses | The following table sets forth the activity in the Company’s allowance for loan losses for the three and six months ended June 30, 2021, and the related portion of the allowances for loan losses that is allocated to each loan class, as of June 30, 2021 (in thousands):
| Residential |  |  | Commercial & Multi-family |  | Construction |  | Commercial Business (1) |  | Home Equity (2) |  | Consumer |  | Unallocated |  | Total
Allowance for loan losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning Balance, March 31, 2021 | $ | 2,837 |  | $ | 23,119 |  | $ | 2,002 |  | $ | 6,581 |  | $ | 293 |  | $ | - |  | $ | 645 |  | $ | 35,477
Charge-offs: |  | (3) |  |  | - |  |  | - |  |  | (103) |  |  | - |  |  | (198) |  |  | - |  |  | (304)
Recovery: |  | - |  |  | - |  |  | - |  |  | 1 |  |  | 3 |  |  | - |  |  | - |  |  | 4
Provisions: |  | 77 |  |  | 1,319 |  |  | 339 |  |  | 373 |  |  | (2) |  |  | 201 |  |  | (12) |  |  | 2,295
Ending Balance, June 30, 2021: |  | 2,911 |  |  | 24,438 |  |  | 2,341 |  |  | 6,852 |  |  | 294 |  |  | 3 |  |  | 633 |  |  | 37,472
Ending Balance attributable to loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment |  | 282 |  |  | 1,486 |  |  | 150 |  |  | 5,033 |  |  | 18 |  |  | - |  |  | - |  |  | 6,969
Collectively evaluated for impairment |  | 2,629 |  |  | 22,952 |  |  | 2,191 |  |  | 1,819 |  |  | 276 |  |  | 3 |  |  | 633 |  |  | 30,503
Ending Balance, June 30, 2021 |  | 2,911 |  |  | 24,438 |  |  | 2,341 |  |  | 6,852 |  |  | 294 |  |  | 3 |  |  | 633 |  |  | 37,472
Loans Receivables: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment |  | 5,216 |  |  | 42,013 |  |  | 2,787 |  |  | 10,982 |  |  | 1,283 |  |  | - |  |  | - |  |  | 62,281
Collectively evaluated for impairment |  | 224,149 |  |  | 1,672,835 |  |  | 178,525 |  |  | 161,147 |  |  | 52,050 |  |  | 459 |  |  | - |  |  | 2,289,165
Total Gross Loans: | $ | 229,365 |  | $ | 1,714,848 |  | $ | 181,312 |  | $ | 172,129 |  | $ | 53,333 |  | $ | 459 |  | $ | - |  | $ | 2,351,446
_____________________________ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(1) Includes business lines of credit. |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(2) Includes home equity lines of credit. |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Residential |  |  | Commercial & Multi-family |  | Construction |  | Commercial Business (1) |  |  | Home Equity (2) |  | Consumer |  | Unallocated |  | Total
Allowance for loan losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning Balance, January 1, 2021 |  | $ | 3,293 |  | $ | 21,772 |  | $ | 1,977 |  | $ | 6,306 |  | $ | 286 |  | $ | - |  | $ | 5 |  | $ | 33,639
Charge-offs: |  |  | (60) |  |  | - |  |  | - |  |  | (103) |  |  | - |  |  | (198) |  |  | - |  |  | (361)
Recovery: |  |  | 27 |  |  | - |  |  | - |  |  | 1 |  |  | 6 |  |  | - |  |  | - |  |  | 34
Provisions: |  |  | (349) |  |  | 2,666 |  |  | 364 |  |  | 648 |  |  | 2 |  |  | 201 |  |  | 628 |  |  | 4,160
Ending Balance, June 30, 2021 |  | $ | 2,911 |  | $ | 24,438 |  | $ | 2,341 |  | $ | 6,852 |  | $ | 294 |  | $ | 3 |  | $ | 633 |  | $ | 37,472
_____________________________ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(1) Includes business lines of credit. |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(2) Includes home equity lines of credit. |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
‎ Note 7 - Loans Receivable and Allowance for Loan Losses (Continued) The following table sets forth the activity in the Company’s allowance for loan losses for the three and six months ended June 30, 2020 (in thousands):
|  | Residential |  |  | Commercial & Multi-family |  | Construction |  | Commercial Business (1) |  | Home Equity (2) |  | Consumer |  | Unallocated |  | Total
Allowance for loan losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning Balance, March 31, 2020 |  | $ | 3,131 |  | $ | 14,949 |  | $ | 1,105 |  | $ | 3,957 |  | $ | 625 | - | $ | 5 |  | $ | 1,762 |  | $ | 25,534
Recovery: |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 4 |  |  | 4 |  |  | - |  |  | 8
Provisions: |  |  | (55) |  |  | 1,993 |  |  | 229 |  |  | 354 |  |  | 55 |  |  | (3) |  |  | 727 |  |  | 3,300
Ending Balance June 30, 2020 |  | $ | 3,076 |  | $ | 16,942 |  | $ | 1,334 |  | $ | 4,311 |  | $ | 684 |  | $ | 6 |  | $ | 2,489 |  | $ | 28,842
Ending Balance attributable to loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment |  | $ | 398 |  | $ | 318 |  | $ | - |  | $ | 2,665 |  | $ | 20 |  | $ | - |  | $ | - |  | $ | 3,401
Collectively evaluated for impairment |  |  | 2,678 |  |  | 16,624 |  |  | 1,334 |  |  | 1,646 |  |  | 664 |  |  | 6 |  |  | 2,489 |  |  | 25,441
Ending Balance June 30, 2020 |  | $ | 3,076 |  | $ | 16,942 |  | $ | 1,334 |  | $ | 4,311 |  | $ | 684 |  | $ | 6 |  | $ | 2,489 |  | $ | 28,842
Loans Receivables: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment |  | $ | 8,233 |  | $ | 9,725 |  | $ | - |  | $ | 7,255 |  | $ | 1,625 |  | $ | - |  | $ | - |  | $ | 26,838
Collectively evaluated for impairment |  |  | 239,238 |  |  | 1,634,229 |  |  | 111,463 |  |  | 302,029 |  |  | 61,856 |  |  | 603 |  |  | - |  |  | 2,349,418
Total Gross Loans: |  | $ | 247,471 |  | $ | 1,643,954 |  | $ | 111,463 |  | $ | 309,284 |  | $ | 63,481 |  | $ | 603 |  | $ | - |  | $ | 2,376,256
_____________________________ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(1) Includes business lines of credit. |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(2) Includes home equity lines of credit. |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Residential |  |  | Commercial & Multi-family |  | Construction |  | Commercial Business (1) |  |  | Home Equity (2) |  | Consumer |  | Unallocated |  | Total
Allowance for loan losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning Balance, January 1, 2020 |  | $ | 2,722 |  | $ | 15,372 |  | $ | 1,244 |  | $ | 3,790 |  | $ | 333 |  | $ | - |  | $ | 273 |  | $ | 23,734
Charge-offs: |  |  | (4) |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | (4)
Recovery: |  |  | - |  |  | - |  |  | - |  |  | 302 |  |  | 6 |  |  | 4 |  |  | - |  |  | 312
Provisions: |  |  | 358 |  |  | 1,570 |  |  | 90 |  |  | 219 |  |  | 345 |  |  | 2 |  |  | 2,216 |  |  | 4,800
Ending Balance, June 30, 2020 |  | $ | 3,076 |  | $ | 16,942 |  | $ | 1,334 |  | $ | 4,311 |  | $ | 684 |  | $ | 6 |  | $ | 2,489 |  | $ | 28,842
_____________________________ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(1) Includes business lines of credit. |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(2) Includes home equity lines of credit. |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
The following table sets forth the amount recorded in loans receivable at December 31, 2020. The table also details the amount of total loans receivable that are evaluated individually, and collectively, for impairment and the related portion of the allowance for loan losses that is allocated to each loan class (in thousands):
|  | Residential |  |  | Commercial & Multi-family |  |  | Construction |  |  | Commercial Business (1) |  |  | Home Equity (2) |  |  | Consumer |  |  | Unallocated |  |  | Total
Allowance for credit losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Ending Balance attributable to loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment | $ | 416 |  | $ | 378 |  | $ | - |  | $ | 3,640 |  | $ | 27 |  | $ | - |  | $ | - |  | $ | 4,461
Collectively evaluated for impairment |  | 2,877 |  |  | 21,394 |  |  | 1,977 |  |  | 2,666 |  |  | 259 |  |  | - |  |  | 5 |  |  | 29,178
Ending Balance, December 31, 2020 | $ | 3,293 |  | $ | 21,772 |  | $ | 1,977 |  | $ | 6,306 |  | $ | 286 |  | $ | - |  | $ | 5 |  | $ | 33,639
Loans Receivables: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | -
Individually evaluated for impairment | $ | 7,281 |  | $ | 61,854 |  | $ | - |  | $ | 12,492 |  | $ | 1,574 |  | $ | - |  | $ | - |  | $ | 83,201
Collectively evaluated for impairment |  | 237,088 |  |  | 1,628,982 |  |  | 155,967 |  |  | 171,865 |  |  | 52,093 |  |  | 822 |  |  | - |  |  | 2,246,817
Total Gross Loans: | $ | 244,369 |  | $ | 1,690,836 |  | $ | 155,967 |  | $ | 184,357 |  | $ | 53,667 |  | $ | 822 |  | $ | - |  | $ | 2,330,018
(1) Includes business lines of credit.
(2) Includes home equity lines of credit.
Impaired Loans | The following table summarizes the average recorded investment and interest income recognized on impaired loans with no related allowance recorded by portfolio class for the three and six months ended June 30, 2021 and 2020 (in thousands):
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2021 |  |  | 2021 |  |  | 2020 |  |  | 2020 |  |  | 2021 |  |  | 2021 |  |  | 2020 |  |  | 2020 |
| Average |  | Interest |  | Average |  | Interest |  | Average |  | Interest |  | Average |  | Interest |
| Recorded |  | Income |  | Recorded |  | Income |  | Recorded |  | Income |  | Recorded |  | Income |
| Investment |  | Recognized |  | Investment |  | Recognized |  | Investment |  | Recognized |  | Investment |  | Recognized |
Loans with no related allowance recorded: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential one-to-four family | $ | 2,961 |  | $ | 37 |  | $ | 4,481 |  | $ | 52 |  | $ | 3,335 |  | $ | 71 |  | $ | 4,547 |  | $ | 104 |
Commercial and Multi-family |  | 31,702 |  |  | 277 |  |  | 8,580 |  |  | 99 |  |  | 40,320 |  |  | 559 |  |  | 9,714 |  |  | 198 |
Construction |  | 1,393 |  |  | - |  |  | - |  |  | - |  |  | 929 |  |  | 36 |  |  | - |  |  | - |
Commercial business(1) |  | 3,780 |  |  | 27 |  |  | 3,308 |  |  | 112 |  |  | 4,468 |  |  | 39 |  |  | 2,864 |  |  | 155 |
Home equity(2) |  | 1,105 |  |  | 12 |  |  | 1,102 |  |  | 10 |  |  | 1,111 |  |  | 23 |  |  | 833 |  |  | 13 |
Consumer |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 218 |  |  | 6 |
Total Impaired Loans with no allowance recorded: | $ | 40,941 |  | $ | 353 |  | $ | 17,471 |  | $ | 273 |  | $ | 50,163 |  | $ | 728 |  | $ | 18,176 |  | $ | 476 |
Loans with an allowance recorded: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential one-to-four family | $ | 2,401 |  | $ | 67 |  | $ | 3,805 |  | $ | 6 |  | $ | 2,666 |  | $ | 99 |  | $ | 3,794 |  | $ | 47 |
Commercial and Multi-family |  | 11,347 |  |  | 102 |  |  | 1,230 |  |  | - |  |  | 8,997 |  |  | 231 |  |  | 1,236 |  |  | 20 |
Construction |  | 1,393 |  |  | 3 |  |  | - |  |  | - |  |  | 929 |  |  | 3 |  |  | - |  |  | - |
Commercial business(1) |  | 8,345 |  |  | 24 |  |  | 2,053 |  |  | 55 |  |  | 7,780 |  |  | 117 |  |  | 1,961 |  |  | 58 |
Home equity(2) |  | 383 |  |  | - |  |  | 405 |  |  | 2 |  |  | 405 |  |  | 2 |  |  | 424 |  |  | 6 |
Consumer |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |
Total Impaired Loans with an allowance recorded: | $ | 23,869 |  | $ | 196 |  | $ | 7,493 |  | $ | 63 |  | $ | 20,777 |  | $ | 452 |  | $ | 7,415 |  | $ | 131 |
Total Impaired Loans: | $ | 64,810 |  | $ | 549 |  | $ | 24,964 |  | $ | 336 |  | $ | 70,940 |  | $ | 1,180 |  | $ | 25,591 |  | $ | 607 |
__________ (1)Includes business lines of credit. (2)Includes home equity lines of credit. The following table summarizes the recorded investment by portfolio class at June 30, 2021 and December 31, 2020. (in thousands):
|  | As of June 30, 2021 |  |  | As of December 31, 2020
|  | Recorded |  |  | Unpaid Principal |  |  | Related |  |  | Recorded |  |  | Unpaid Principal |  |  | Related
|  | Investment |  |  | Balance |  |  | Allowance |  |  | Investment |  |  | Balance |  |  | Allowance
Loans with no related allowance recorded: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential one-to-four family | $ | 3,102 |  | $ | 3,504 |  | $ | - |  | $ | 4,084 |  | $ | 4,660 |  | $ | -
Commercial and multi-family |  | 31,047 |  |  | 32,466 |  |  | - |  |  | 57,558 |  |  | 58,739 |  |  | -
Construction |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | -
Commercial business(1) |  | 3,062 |  |  | 12,843 |  |  | - |  |  | 5,844 |  |  | 17,687 |  |  | -
Home equity(2) |  | 942 |  |  | 944 |  |  | - |  |  | 1,124 |  |  | 1,126 |  |  | -
Total Impaired Loans with no related allowance recorded: | $ | 38,153 |  | $ | 49,757 |  | $ | - |  | $ | 68,610 |  | $ | 82,212 |  | $ | -
Loans with an allowance recorded: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential one-to-four family | $ | 2,114 |  | $ | 2,141 |  | $ | 282 |  | $ | 3,197 |  | $ | 3,252 |  | $ | 416
Commercial and Multi-family |  | 10,966 |  |  | 14,607 |  |  | 1,486 |  |  | 4,296 |  |  | 4,501 |  |  | 378
Construction |  | 2,787 |  |  | 2,787 |  |  | 150 |  |  | - |  |  | - |  |  | -
Commercial business(1) |  | 7,920 |  |  | 17,682 |  |  | 5,033 |  |  | 6,648 |  |  | 12,511 |  |  | 3,640
Home equity(2) |  | 341 |  |  | 341 |  |  | 18 |  |  | 450 |  |  | 458 |  |  | 27
Total Impaired Loans with an allowance recorded: | $ | 24,128 |  | $ | 37,558 |  | $ | 6,969 |  | $ | 14,591 |  | $ | 20,722 |  | $ | 4,461
Total Impaired Loans: | $ | 62,281 |  | $ | 87,315 |  | $ | 6,969 |  | $ | 83,201 |  | $ | 102,934 |  | $ | 4,461
__________ (1) Includes business lines of credit. ‎(2) Includes home equity lines of credit.
Troubled Debt Restructurings |
|  | At June 30, 2021 |  |  | At December 31, 2020
|  | (In thousands)
Recorded investment in TDRs: |  |  |  |  |
Accrual status | $ | 12,556 |  | $ | 13,760
Non-accrual status |  | 3,971 |  |  | 2,303
Total recorded investment in TDRs | $ | 16,527 |  | $ | 16,063
Delinquency Status of Total Loans | The following table sets forth the delinquency status of total loans receivable as of June 30, 2021:
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Loans Receivable
| 30-59 Days |  | 60-90 Days |  | Greater Than |  | Total Past |  |  |  |  | Total Loans |  | >90 Days
| Past Due |  | Past Due |  | 90 Days |  | Due |  | Current |  | Receivable |  | and Accruing
|  | (In Thousands)
Residential one-to-four family | $ | 773 |  | $ | - |  | $ | 499 |  | $ | 1,272 |  | $ | 228,093 |  | $ | 229,365 |  | $ | 324
Commercial and multi-family |  | 5,182 |  |  | - |  |  | 7,755 |  |  | 12,937 |  |  | 1,701,911 |  |  | 1,714,848 |  |  | 1,425
Construction |  | 1,074 |  |  | - |  |  | 2,787 |  |  | 3,861 |  |  | 177,451 |  |  | 181,312 |  |  | -
Commercial business(1) |  | 844 |  |  | 151 |  |  | 3,381 |  |  | 4,376 |  |  | 167,753 |  |  | 172,129 |  |  | -
Home equity(2) |  | 187 |  |  | - |  |  | 27 |  |  | 214 |  |  | 53,119 |  |  | 53,333 |  |  | -
Consumer |  | - |  |  | - |  |  | - |  |  | - |  |  | 459 |  |  | 459 |  |  | -
Total | $ | 8,060 |  | $ | 151 |  | $ | 14,449 |  | $ | 22,660 |  | $ | 2,328,786 |  | $ | 2,351,446 |  | $ | 1,749
_________ (1) Includes business lines of credit. (2) Includes home equity lines of credit. The following table sets forth the delinquency status of total loans receivable at December 31, 2020:
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Loans Receivable
| 30-59 Days |  | 60-90 Days |  | Greater Than |  | Total Past |  |  |  |  | Total Loans |  | >90 Days
| Past Due |  | Past Due |  | 90 Days |  | Due |  | Current |  | Receivable |  | and Accruing
|  | (In Thousands)
Originated loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential one-to-four family | $ | 507 |  | $ | 266 |  | $ | 664 |  | $ | 1,437 |  | $ | 242,932 |  | $ | 244,369 |  | $ | 125
Commercial and multi-family |  | 15,910 |  |  | 2,996 |  |  | 1,334 |  |  | 20,240 |  |  | 1,670,596 |  |  | 1,690,836 |  |  | -
Construction |  | - |  |  | - |  |  | - |  |  | - |  |  | 155,967 |  |  | 155,967 |  |  | -
Commercial business(1) |  | 3,889 |  |  | 904 |  |  | 3,354 |  |  | 8,147 |  |  | 176,210 |  |  | 184,357 |  |  | 133
Home equity(2) |  | 541 |  |  | 12 |  |  | 502 |  |  | 1,055 |  |  | 52,612 |  |  | 53,667 |  |  | 75
Consumer |  | - |  |  | - |  |  | - |  |  | - |  |  | 822 |  |  | 822 |  |  | -
Total | $ | 20,847 |  | $ | 4,178 |  | $ | 5,854 |  | $ | 30,879 |  | $ | 2,299,139 |  | $ | 2,330,018 |  | $ | 333
(1) Includes business lines of credit. (2) Includes home equity lines of credit.
Non-Accruing Loans |
|  | As of June 30, 2021 |  |  | As of December 31, 2020
|  | (In Thousands) |  |  | (In Thousands)
Non-Accruing Loans: |  |  |  |  |
Residential one-to-four family | $ | 464 |  | $ | 1,736
Commercial and multi-family |  | 14,673 |  |  | 8,721
Construction |  | 2,787 |  |  | -
Commercial business(1) |  | 4,216 |  |  | 5,383
Home equity(2) |  | 34 |  |  | 556
Total | $ | 22,174 |  | $ | 16,396
_________ (1) Includes business lines of credit. (2) Includes home equity lines of credit.
Loan Portfolio by Pass Rating |
| Pass |  | Special Mention |  | Substandard |  | Total
Residential one-to-four family | $ | 228,292 |  | $ | 518 |  | $ | 555 |  | $ | 229,365
Commercial and multi-family |  | 1,636,469 |  |  | 40,696 |  |  | 37,683 |  |  | 1,714,848
Construction |  | 178,525 |  |  | - |  |  | 2,787 |  |  | 181,312
Commercial business(1) |  | 159,510 |  |  | 1,964 |  |  | 10,655 |  |  | 172,129
Home equity(2) |  | 53,022 |  |  | 65 |  |  | 246 |  |  | 53,333
Consumer |  | 459 |  |  | - |  |  | - |  |  | 459
Total Gross Loans | $ | 2,256,277 |  | $ | 43,243 |  | $ | 51,926 |  | $ | 2,351,446
_________ (1) Includes business lines of credit and PPP loans. (2) Includes home equity lines of credit. The following table presents the loan portfolio types summarized by the aggregate pass rating and the classified ratings of special mention and substandard within the Company’s internal risk rating system as of December 31, 2020 (In thousands). As of December 31, 2020, the Company had no loans with the classified rating of doubtful or loss.
| Pass |  | Special Mention |  | Substandard |  | Total
Residential one-to-four family | $ | 241,237 |  | $ | 1,087 |  | $ | 2,045 |  | $ | 244,369
Commercial and multi-family |  | 1,631,838 |  |  | 2,152 |  |  | 56,846 |  |  | 1,690,836
Construction |  | 155,967 |  |  | - |  |  | - |  |  | 155,967
Commercial business(1) |  | 173,833 |  |  | 1,497 |  |  | 9,027 |  |  | 184,357
Home equity(2) |  | 53,005 |  |  | - |  |  | 662 |  |  | 53,667
Consumer |  | 822 |  |  | - |  |  | - |  |  | 822
Total Gross Loans | $ | 2,256,702 |  | $ | 4,736 |  | $ | 68,580 |  | $ | 2,330,018
________ (1) Includes business lines of credit. (2) Includes home equity lines of credit.

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