XML 36 R26.htm IDEA: XBRL DOCUMENT
v3.21.2

Loans Receivable and Allowance for Loan Losses (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2021
Loans Receivable and Allowance for Loan Losses [Abstract] |
Recorded Investment in Loans Receivable |
| September 30, 2021 |  | December 31, 2020
|  | (In Thousands)
Residential one-to-four family | $ | 224,330 |  | $ | 244,369
Commercial and multi-family |  | 1,739,976 |  |  | 1,690,836
Construction |  | 149,076 |  |  | 155,967
Commercial business(1) |  | 161,416 |  |  | 184,357
Home equity(2) |  | 52,109 |  |  | 53,667
Consumer |  | 2,730 |  |  | 822
|  | 2,329,637 |  |  | 2,330,018
Less: |  |  |  |  |
Deferred loan fees, net |  | (1,627) |  |  | (1,358)
Allowance for loan losses |  | (38,156) |  |  | (33,639)
Sub-total |  | (39,783) |  |  | (34,997)
Total Loans, net | $ | 2,289,854 |  | $ | 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 nine months ended September 30, 2021, and the related portion of the allowances for loan losses that is allocated to each loan class, as of September 30, 2021 (in thousands):
| Residential |  |  | Commercial & Multi-family |  | Construction |  | Commercial Business (1) |  | Home Equity (2) |  | Consumer |  | Unallocated |  | Total
Allowance for loan losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning Balance, June 30, 2021 | $ | 2,911 |  | $ | 24,438 |  | $ | 2,341 |  | $ | 6,852 |  | $ | 294 |  | $ | 3 |  | $ | 633 |  | $ | 37,472
Charge-offs: |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | -
Recovery: |  | - |  |  | - |  |  | - |  |  | 1 |  |  | 3 |  |  | - |  |  | - |  |  | 4
Provisions: |  | (75) |  |  | 370 |  |  | (307) |  |  | 879 |  |  | 19 |  |  | 20 |  |  | (226) |  |  | 680
Ending Balance, September 30, 2021: |  | 2,836 |  |  | 24,808 |  |  | 2,034 |  |  | 7,732 |  |  | 316 |  |  | 23 |  |  | 407 |  |  | 38,156
Ending Balance attributable to loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment |  | 276 |  |  | 1,469 |  |  | 150 |  |  | 5,770 |  |  | 16 |  |  | - |  |  | - |  |  | 7,681
Collectively evaluated for impairment |  | 2,560 |  |  | 23,339 |  |  | 1,884 |  |  | 1,962 |  |  | 300 |  |  | 23 |  |  | 407 |  |  | 30,475
Ending Balance, September 30, 2021 |  | 2,836 |  |  | 24,808 |  |  | 2,034 |  |  | 7,732 |  |  | 316 |  |  | 23 |  |  | 407 |  |  | 38,156
Loans Receivables: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment |  | 5,104 |  |  | 39,356 |  |  | 2,787 |  |  | 10,343 |  |  | 1,273 |  |  | - |  |  | - |  |  | 58,863
Collectively evaluated for impairment |  | 219,226 |  |  | 1,700,620 |  |  | 146,289 |  |  | 151,073 |  |  | 50,836 |  |  | 2,730 |  |  | - |  |  | 2,270,774
Total Gross Loans: | $ | 224,330 |  | $ | 1,739,976 |  | $ | 149,076 |  | $ | 161,416 |  | $ | 52,109 |  | $ | 2,730 |  | $ | - |  | $ | 2,329,637
_____________________________ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(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 |  |  | - |  |  | - |  |  | 2 |  |  | - |  |  | 9 |  |  | - |  |  | 38
Provisions: |  |  | (424) |  |  | 3,036 |  |  | 57 |  |  | 1,527 |  |  | 30 |  |  | 212 |  |  | 402 |  |  | 4,840
Ending Balance, September 30, 2021 |  | $ | 2,836 |  | $ | 24,808 |  | $ | 2,034 |  | $ | 7,732 |  | $ | 316 |  | $ | 23 |  | $ | 407 |  | $ | 38,156
_____________________________ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(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 nine months ended September 30, 2020 (in thousands):
|  | Residential |  |  | Commercial & Multi-family |  | Construction |  | Commercial Business (1) |  | Home Equity (2) |  | Consumer |  | Unallocated |  | Total
Allowance for loan losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning Balance, June 30, 2020 |  | $ | 3,076 |  | $ | 16,942 |  | $ | 1,334 |  | $ | 4,311 |  | $ | 684 | - | $ | 6 |  | $ | 2,489 |  | $ | 28,842
Recovery: |  |  | - |  |  | - |  |  | - |  |  | 190 |  |  | 2 |  |  | - |  |  | - |  |  | 192
Provisions: |  |  | 58 |  |  | 1,731 |  |  | 395 |  |  | 2,891 |  |  | (63) |  |  | 6 |  |  | (2,292) |  |  | 2,726
Ending Balance September 30, 2020 |  | $ | 3,134 |  | $ | 18,673 |  | $ | 1,729 |  | $ | 7,392 |  | $ | 623 |  | $ | 12 |  | $ | 197 |  | $ | 31,760
Ending Balance attributable to loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment |  | $ | 385 |  | $ | 313 |  | $ | - |  | $ | 3,128 |  | $ | 27 |  | $ | - |  | $ | - |  | $ | 3,853
Collectively evaluated for impairment |  |  | 2,749 |  |  | 18,360 |  |  | 1,729 |  |  | 4,264 |  |  | 596 |  |  | 12 |  |  | 197 |  |  | 27,907
Ending Balance September 30, 2020 |  | $ | 3,134 |  | $ | 18,673 |  | $ | 1,729 |  | $ | 7,392 |  | $ | 623 |  | $ | 12 |  | $ | 197 |  | $ | 31,760
Loans Receivables: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment |  | $ | 8,533 |  | $ | 13,980 |  | $ | - |  | $ | 7,163 |  | $ | 1,642 |  | $ | - |  | $ | - |  | $ | 31,318
Collectively evaluated for impairment |  |  | 233,263 |  |  | 1,663,688 |  |  | 134,769 |  |  | 304,041 |  |  | 59,331 |  |  | 770 |  |  | - |  |  | 2,395,862
Total Gross Loans: |  | $ | 241,796 |  | $ | 1,677,668 |  | $ | 134,769 |  | $ | 311,204 |  | $ | 60,973 |  | $ | 770 |  | $ | - |  | $ | 2,427,180
_____________________________ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(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: |  |  | - |  |  | - |  |  | - |  |  | 492 |  |  | 8 |  |  | 4 |  |  | - |  |  | 504
Provisions: |  |  | 416 |  |  | 3,301 |  |  | 485 |  |  | 3,110 |  |  | 282 |  |  | 8 |  |  | (76) |  |  | 7,526
Ending Balance, September 30, 2020 |  | $ | 3,134 |  | $ | 18,673 |  | $ | 1,729 |  | $ | 7,392 |  | $ | 623 |  | $ | 12 |  | $ | 197 |  | $ | 31,760
_____________________________ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(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 nine months ended September 30, 2021 and 2020 (in thousands):
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 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 | $ | 3,050 |  | $ | 37 |  | $ | 4,664 |  | $ | 16 |  | $ | 2,973 |  | $ | 108 |  | $ | 4,652 |  | $ | 120 |
Commercial and Multi-family |  | 29,742 |  |  | 271 |  |  | 10,632 |  |  | 36 |  |  | 30,614 |  |  | 830 |  |  | 9,974 |  |  | 234 |
Construction |  | - |  |  | - |  |  | - |  |  | - |  |  | 929 |  |  | 36 |  |  | - |  |  | - |
Commercial business(1) |  | 2,465 |  |  | 65 |  |  | 4,380 |  |  | 53 |  |  | 3,143 |  |  | 104 |  |  | 3,541 |  |  | 208 |
Home equity(2) |  | 938 |  |  | 12 |  |  | 1,204 |  |  | 6 |  |  | 1,048 |  |  | 35 |  |  | 1,091 |  |  | 25 |
Consumer |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |
Total Impaired Loans with no allowance recorded: | $ | 36,195 |  | $ | 385 |  | $ | 20,880 |  | $ | 111 |  | $ | 38,707 |  | $ | 1,113 |  | $ | 19,258 |  | $ | 587 |
Loans with an allowance recorded: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential one-to-four family | $ | 2,110 |  | $ | 66 |  | $ | 3,720 |  | $ | 3 |  | $ | 2,302 |  | $ | 165 |  | $ | 3,714 |  | $ | 50 |
Commercial and Multi-family |  | 10,942 |  |  | 100 |  |  | 1,221 |  |  | - |  |  | 11,204 |  |  | 331 |  |  | 1,225 |  |  | 20 |
Construction |  | 2,787 |  |  | 3 |  |  | - |  |  | - |  |  | 1,858 |  |  | 6 |  |  | - |  |  | - |
Commercial business(1) |  | 8,197 |  |  | 24 |  |  | 2,830 |  |  | 82 |  |  | 8,388 |  |  | 141 |  |  | 2,420 |  |  | 140 |
Home equity(2) |  | 340 |  |  | - |  |  | 431 |  |  | 2 |  |  | 368 |  |  | 2 |  |  | 440 |  |  | 8 |
Consumer |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |
Total Impaired Loans with an allowance recorded: | $ | 24,376 |  | $ | 193 |  | $ | 8,202 |  | $ | 87 |  | $ | 24,120 |  | $ | 645 |  | $ | 7,799 |  | $ | 218 |
Total Impaired Loans: | $ | 60,571 |  | $ | 578 |  | $ | 29,082 |  | $ | 198 |  | $ | 62,827 |  | $ | 1,758 |  | $ | 27,057 |  | $ | 805 |
__________ (1)Includes business lines of credit. (2)Includes home equity lines of credit. The following table summarizes the recorded investment by portfolio class at September 30, 2021 and December 31, 2020. (in thousands):
|  | As of September 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 | $ | 2,998 |  | $ | 3,343 |  | $ | - |  | $ | 4,084 |  | $ | 4,660 |  | $ | -
Commercial and multi-family |  | 28,438 |  |  | 29,892 |  |  | - |  |  | 57,558 |  |  | 58,739 |  |  | -
Construction |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | -
Commercial business(1) |  | 1,869 |  |  | 6,473 |  |  | - |  |  | 5,844 |  |  | 17,687 |  |  | -
Home equity(2) |  | 934 |  |  | 936 |  |  | - |  |  | 1,124 |  |  | 1,126 |  |  | -
Total Impaired Loans with no related allowance recorded: | $ | 34,239 |  | $ | 40,644 |  | $ | - |  | $ | 68,610 |  | $ | 82,212 |  | $ | -
Loans with an allowance recorded: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential one-to-four family | $ | 2,106 |  | $ | 2,134 |  | $ | 276 |  | $ | 3,197 |  | $ | 3,252 |  | $ | 416
Commercial and Multi-family |  | 10,918 |  |  | 14,551 |  |  | 1,469 |  |  | 4,296 |  |  | 4,501 |  |  | 378
Construction |  | 2,787 |  |  | 2,787 |  |  | 150 |  |  | - |  |  | - |  |  | -
Commercial business(1) |  | 8,474 |  |  | 21,284 |  |  | 5,770 |  |  | 6,648 |  |  | 12,511 |  |  | 3,640
Home equity(2) |  | 339 |  |  | 339 |  |  | 16 |  |  | 450 |  |  | 458 |  |  | 27
Total Impaired Loans with an allowance recorded: | $ | 24,624 |  | $ | 41,095 |  | $ | 7,681 |  | $ | 14,591 |  | $ | 20,722 |  | $ | 4,461
Total Impaired Loans: | $ | 58,863 |  | $ | 81,739 |  | $ | 7,681 |  | $ | 83,201 |  | $ | 102,934 |  | $ | 4,461
__________ (1) Includes business lines of credit. ‎(2) Includes home equity lines of credit.
Troubled Debt Restructurings |
|  | At September 30, 2021 |  |  | At December 31, 2020
|  | (In thousands)
Recorded investment in TDRs: |  |  |  |  |
Accrual status | $ | 12,568 |  | $ | 13,760
Non-accrual status |  | 3,823 |  |  | 2,303
Total recorded investment in TDRs | $ | 16,391 |  | $ | 16,063
Delinquency Status of Total Loans | The following table sets forth the delinquency status of total loans receivable as of September 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 | $ | 463 |  | $ | - |  | $ | 152 |  | $ | 615 |  | $ | 223,715 |  | $ | 224,330 |  | $ | -
Commercial and multi-family |  | 2,992 |  |  | - |  |  | 6,047 |  |  | 9,039 |  |  | 1,730,937 |  |  | 1,739,976 |  |  | 651
Construction |  | - |  |  | - |  |  | 2,787 |  |  | 2,787 |  |  | 146,289 |  |  | 149,076 |  |  | -
Commercial business(1) |  | 723 |  |  | 434 |  |  | 3,352 |  |  | 4,509 |  |  | 156,907 |  |  | 161,416 |  |  | -
Home equity(2) |  | 32 |  |  | - |  |  | 33 |  |  | 65 |  |  | 52,044 |  |  | 52,109 |  |  | -
Consumer |  | - |  |  | - |  |  | - |  |  | - |  |  | 2,730 |  |  | 2,730 |  |  | -
Total | $ | 4,210 |  | $ | 434 |  | $ | 12,371 |  | $ | 17,015 |  | $ | 2,312,622 |  | $ | 2,329,637 |  | $ | 651
_________ (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 September 30, 2021 |  |  | As of December 31, 2020
|  | (In Thousands) |  |  | (In Thousands)
Non-Accruing Loans: |  |  |  |  |
Residential one-to-four family | $ | 455 |  | $ | 1,736
Commercial and multi-family |  | 13,322 |  |  | 8,721
Construction |  | 2,787 |  |  | -
Commercial business(1) |  | 4,128 |  |  | 5,383
Home equity(2) |  | 33 |  |  | 556
Total | $ | 20,725 |  | $ | 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 | $ | 223,275 |  | $ | 511 |  | $ | 544 |  | $ | 224,330
Commercial and multi-family |  | 1,661,477 |  |  | 43,551 |  |  | 34,948 |  |  | 1,739,976
Construction |  | 146,289 |  |  | - |  |  | 2,787 |  |  | 149,076
Commercial business(1) |  | 146,549 |  |  | 4,844 |  |  | 10,023 |  |  | 161,416
Home equity(2) |  | 51,802 |  |  | 62 |  |  | 245 |  |  | 52,109
Consumer |  | 2,730 |  |  | - |  |  | - |  |  | 2,730
Total Gross Loans | $ | 2,232,122 |  | $ | 48,968 |  | $ | 48,547 |  | $ | 2,329,637
_________ (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.

X
- Definition Tabular disclosure of allowance for credit loss on financing receivable. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 11B -URI http://asc.fasb.org/extlink&oid=121611835&loc=SL6953423-111524 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=121599337&loc=SL82919249-210447 + Details
Name: | us-gaap_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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=121599337&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=121611835&loc=SL6953659-111524 + Details
Name: | us-gaap_FinancingReceivableCreditQualityIndicatorsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of impaired financing receivables. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=121611835&loc=d3e5212-111524 + Details
Name: | us-gaap_ImpairedFinancingReceivablesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of aging analysis for financing receivable. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 14 -URI http://asc.fasb.org/extlink&oid=121599337&loc=SL82919253-210447 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 7A -URI http://asc.fasb.org/extlink&oid=121611835&loc=SL6953401-111524 Reference 3: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 55 -Paragraph 80 -URI http://asc.fasb.org/extlink&oid=121647567&loc=SL82922355-210448 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=121611835&loc=d3e5111-111524 + Details
Name: | us-gaap_PastDueFinancingReceivablesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_ReceivablesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.3,4) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
Name: | us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of financing receivable on nonaccrual status. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=121611835&loc=d3e5111-111524 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 16 -URI http://asc.fasb.org/extlink&oid=121599337&loc=SL82919258-210447 + Details
Name: | us-gaap_ScheduleOfFinancingReceivablesNonAccrualStatusTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of financing receivable modified as troubled debt restructuring. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=121611835&loc=SL6953676-111524 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=121611835&loc=SL6953682-111524 + Details
Name: | us-gaap_TroubledDebtRestructuringsOnFinancingReceivablesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration