Loans Receivable and Allowance for Credit Losses

6 Months Ended

Jun. 30, 2024

Loans Receivable and Allowance for Credit Losses [Abstract]

Loans Receivable and Allowance for Credit Losses

Note 7 - Loans Receivable and Allowance for Credit Losses

The following tables present the recorded investment in loans receivable as of June 30, 2024 and December 31, 2023 by segment and class:



	June 30, 2024		December 31, 2023
		(In Thousands)
Residential one-to-four family	$	242,706	$	248,295
Commercial and multi-family		2,340,385		2,434,115
Construction		173,207		192,816
Commercial business⁽¹⁾		274,906		269,274
Business express		100,449		102,928
Home equity⁽²⁾		66,843		66,331
Consumer		2,053		3,643
		3,200,549		3,317,402

Less:
Deferred loan fees, net		(3,381)		(4,086)
Allowance for credit losses		(35,243)		(33,608)

Total Loans, net	$	3,161,925	$	3,279,708

(1) Excludes Business express loans.

(2) Includes home equity lines of credit.
‎

Note 7 – Loans Receivable and Allowance for Credit Losses (Continued)

Allowance for Credit Losses

The Company engages a third-party vendor to assist in the CECL calculation and has established a robust internal governance framework to oversee the quarterly estimation process for the allowance for credit losses (“ACL”). The ACL calculation methodology relies on regression-based discounted cash flow (“DCF”) models that correlate relationships between certain financial metrics and external market and macroeconomic variables. Following are some of the key factors and assumptions that are used in the Company’s CECL calculations:

methods based on probability of default and loss given default which are modeled based on macroeconomic scenarios;

a reasonable and supportable forecast period determined based on management’s current review of macroeconomic environment;

a reversion period after the reasonable and supportable forecast period;

estimated prepayment rates based on the Company’s historical experience and future macroeconomic environment;

estimated credit utilization rates based on the Company’s historical experience and future macroeconomic environment; and

incorporation of qualitative factors not captured within the modeled results. The qualitative factors include but are not limited to changes in lending policies, business conditions, changes in the nature and size of the portfolio, portfolio concentrations, and external factors such as competition.

Allowance for credit losses are aggregated for the major loan segments, with similar risk characteristics, summarized below. However, for the purposes of calculating the reserves, these segments may be further broken down into loan classes by risk characteristics that include but are not limited to regulatory call codes, industry type, geographic location, and collateral type.

Residential one-to-four family real estate loans involve certain risks such as interest rate risk and risk of non-repayment. Adjustable-rate residential real estate loans decrease the interest rate risk to the Bank that is associated with changes in interest rates but involve other risks, primarily because as interest rates rise, the payment by the borrower rises to the extent permitted by the terms of the loan, thereby increasing the potential for default. At the same time, the marketability of the underlying properties may be adversely affected by higher interest rates. Repayment risk may be affected by a number of factors including, but not necessarily limited to, job loss, divorce, illness and personal bankruptcy of the borrower.

Commercial and multi-family real estate lending entails additional risks as compared with residential family property lending. Such loans typically involve large loan balances to single borrowers or groups of related borrowers. The payment experience on such loans is typically dependent on the successful operation of the real estate project. The success of such projects is sensitive to changes in supply and demand conditions in the market for commercial real estate as well as general economic conditions.

Construction lending is generally considered to involve a high risk due to the concentration of principal in a limited number of loans and borrowers and the effects of the general economic conditions on developers and builders. Moreover, a construction loan can involve additional risks because of the inherent difficulty in estimating both a property’s value at completion of the project and the estimated cost (including interest) of the project. The nature of these loans is such that they are generally difficult to evaluate and monitor. In addition, speculative construction loans to a builder are not necessarily pre-sold and thus pose a greater potential risk to the Bank than construction loans to individuals on their personal residence.

Commercial business lending, including lines of credit, is generally considered higher risk due to the concentration of principal in a limited number of loans and borrowers and the effects of general economic conditions on the business. Commercial business loans are primarily secured by inventories and other business assets. In many cases, any repossessed collateral for a defaulted commercial business loan will not provide an adequate source of repayment of the outstanding loan balance. The Bank has further segregated its commercial business portfolio into commercial business express loans that carry higher risk relative to other commercial business loans. The Bank had originated commercial business express loans to support small business owners coming out of the COVID crisis. The portfolio consists of a large number of loans with majority of the loans carrying a balance of $250,000 or lower.

Home equity lending entails certain risks such as interest rate risk and risk of non-repayment. The marketability of the underlying property may be adversely affected by higher interest rates, decreasing the collateral value securing the loan. Repayment risk can be affected by job loss, divorce, illness and personal bankruptcy of the borrower. Home equity line of credit lending entails securing an equity interest in the borrower’s home. In many cases, the Bank’s position in these loans is as a junior lien holder to another institution’s superior lien. This type of lending is often priced on an adjustable rate basis with the rate set at or above a predefined index. Adjustable-rate loans decrease the interest rate risk to the Bank that is associated with changes in interest rates but involve other risks, primarily because as interest rates rise, the payment by the borrower rises to the extent permitted by the terms of the loan, thereby increasing the potential for default.

Other consumer loans generally have more credit risk because of the type and nature of the collateral and, in certain cases, the absence of collateral. Consumer loans generally have shorter terms and higher interest rates than other lending. In addition, consumer lending collections are dependent on the borrower’s continuing financial stability, and thus are more likely to be adversely affected by job loss, divorce, illness and personal bankruptcy. In many cases, any repossessed collateral for a defaulted consumer loan will not provide an adequate source of repayment of the outstanding loan.

‎

Note 7 - Loans Receivable and Allowance for Credit Losses (Continued)

The following table sets forth the activity in the Company’s allowance for credit losses for the three and six months ended June 30, 2024, and the related portion of the allowances for credit losses that is allocated to each loan class, as of June 30, 2024 (in thousands):


	Residential			Commercial & Multi-family	Construction		Commercial Business ⁽¹⁾		Business Express		Home Equity ⁽²⁾		Consumer		Total
Allowance for credit losses:
Beginning Balance, April 1, 2024	$	2,163	$	15,363	$	3,237	$	7,640	$	5,030	$	650	$	480	$	34,563

Charge-offs:		-		-		-		(538)		(794)		-		(446)		(1,778)
Recoveries:		14		-		-		2		4		-		-		20
Provision (benefit):		(138)		(456)		(365)		1,219		2,204		(15)		(11)		2,438
Ending Balance, June 30, 2024		2,039		14,907		2,872		8,323		6,444		635		23		35,243

Ending Balance attributable to loans:
Individually evaluated		-		970		-		3,338		2,025		-		-		6,333
Collectively evaluated		2,039		13,937		2,872		4,985		4,419		635		23		28,910
Ending Balance, June 30, 2024		2,039		14,907		2,872		8,323		6,444		635		23		35,243

Loans Receivables:
Individually evaluated		173		51,089		1,164		6,135		2,025		212		-		60,798
Collectively evaluated		242,533		2,289,296		172,043		268,771		98,424		66,631		2,053		3,139,751
Total Gross Loans:	$	242,706	$	2,340,385	$	173,207	$	274,906	$	100,449	$	66,843	$	2,053	$	3,200,549

(1) Excludes Business express loans.

(2) Includes home equity lines of credit.


	Residential			Commercial & Multi-family	Construction		Commercial Business ⁽¹⁾			Business Express		Home Equity⁽²⁾	Consumer		Total
Allowance for credit losses:
Beginning Balance, January 1, 2024	$	2,344	$	16,301	$	3,841	$	5,811	$	4,542	$	691	$	78	$	33,608

Charge-offs:		-		-		-		(567)		(1,916)		-		(446)		(2,929)
Recoveries:		25		-		-		5		8		-		-		38
Provision (benefit):		(330)		(1,394)		(969)		3,074		3,810		(56)		391		4,526
Ending Balance, June 30, 2024	$	2,039	$	14,907	$	2,872	$	8,323	$	6,444	$	635	$	23	$	35,243

(1) Excludes Business express loans.

(2) Includes home equity lines of credit.

‎

Note 7 - Loans Receivable and Allowance for Credit Losses (Continued)

The following table sets forth the activity in the Company’s allowance for credit losses for the three months ended June 30, 2023, and the related portion of the allowances for credit losses that is allocated to each loan class, as of June 30, 2023 (in thousands):


	Residential			Commercial & Multi-family	Construction		Commercial Business ⁽¹⁾		Business Express		Home Equity ⁽²⁾		Consumer		Total
Allowance for credit losses:
Beginning Balance, April 1, 2023	$	2,361	$	14,966	$	3,850	$	5,473	$	1,518	$	680	$	34	$	28,882

Charge-offs:		-		-		-		-		(39)		-		-		(39)
Recoveries:		12		-		-		-		-		-		-		12
Provision (benefit):		80		79		240		(94)		1,006		42		(3)		1,350
Ending Balance, June 30, 2023		2,453		15,045		4,090		5,379		2,485		722		31		30,205

Ending Balance attributable to loans:
Individually evaluated		-		-		608		1,898		266		-		-		2,772
Collectively evaluated		2,453		15,045		3,482		3,481		2,219		722		31		27,433
Ending Balance, June 30, 2023		2,453		15,045		4,090		5,379		2,485		722		31		30,205

Loans Receivables:
Individually evaluated		356		17,108		5,604		4,703		266		212		-		28,249
Collectively evaluated		249,989		2,473,775		173,552		267,898		96,081		61,383		3,994		3,326,672
Total Gross Loans:	$	250,345	$	2,490,883	$	179,156	$	272,601	$	96,347	$	61,595	$	3,994	$	3,354,921

(1) Excludes Business express loans.

(2) Includes home equity lines of credit.


	Residential			Commercial & Multi-family	Construction		Commercial Business ⁽¹⁾			Business Express		Home Equity⁽²⁾	Consumer		Unallocated		Total
Allowance for credit losses:
Ending Balance December 31, 2022		2,474		21,749		2,094		4,495		872		485		24		180		32,373
Effect of adopting ASU No. 2016-13 ("CECL")		144		(7,123)		1,387		1,734		(316)		182		7		(180)		(4,165)
Beginning Balance, January 1, 2023	$	2,618	$	14,626	$	3,481	$	6,229	$	556	$	667	$	31	$	-	$	28,208

Charge-offs:		-		-		-		(1)		(39)		-		-		-		(40)
Recoveries:		24		-		-		25		-		16		-		-		65
Provision (benefit):		(189)		419		609		(874)		1,968		39		-		-		1,972
Ending Balance, June 30, 2023	$	2,453	$	15,045	$	4,090	$	5,379	$	2,485	$	722	$	31	$	-	$	30,205

(1) Excludes Business express loans.

(2) Includes home equity lines of credit.

The following table sets forth the amount recorded in loans receivable at December 31, 2023. The table also details the amount of total loans receivable that are evaluated individually and collectively, and the related portion of the allowance for credit losses that is allocated to each loan class (in thousands):


	Residential		Commercial & Multi-family		Construction		Commercial Business ⁽¹⁾		Business Express		Home Equity ⁽²⁾		Consumer		Unallocated		Total
Allowance for credit losses:
Ending Balance, December 31, 2022	$	2,474	$	21,749	$	2,094	$	4,495	$	872	$	485	$	24	$	180	$	32,373
Effect of adopting ASU No. 2016-13 ("CECL")		144		(7,123)		1,387		1,734		(316)		182		7		(180)		(4,165)
Beginning Balance, January 1, 2023	$	2,618	$	14,626	$	3,481	$	6,229	$	556	$	667	$	31	$	-	$	28,208

Charge-offs:		-		-		-		-		(805)		-		-		-		(805)
Recoveries:		45		-		-		29		11		16		-		-		101
Provision (benefit):		(319)		1,675		360		(447)		4,780		8		47		-		6,104
Ending Balance, December 31, 2023	$	2,344	$	16,301	$	3,841	$	5,811	$	4,542	$	691	$	78	$	-	$	33,608

Ending Balance attributable to loans:
Individually evaluated	$	-	$	990	$	310	$	2,132	$	797	$	-	$	-	$	-	$	4,229
Collectively evaluated		2,344		15,311		3,531		3,679		3,745		691		78		-		29,379
Ending Balance, December 31, 2023	$	2,344	$	16,301	$	3,841	$	5,811	$	4,542	$	691	$	78	$	-	$	33,608

Loans Receivables:
Individually evaluated	$	444	$	42,259	$	4,292	$	6,015	$	797	$	212	$	-	$	-	$	54,019
Collectively evaluated		247,851		2,391,856		188,524		263,259		102,131		66,119		3,643		-		3,263,383
Total Gross Loans	$	248,295	$	2,434,115	$	192,816	$	269,274	$	102,928	$	66,331	$	3,643	$	-	$	3,317,402

(1) Excludes Business express loans.

(2) Includes home equity lines of credit.

‎

Note 7 - Loans Receivable and Allowance for Credit Losses (Continued)

The following tables present the activity in the allowance for credit losses on off-balance sheet exposures for the three and six months ended June 30, 2023 and 2024 (in thousands):


		Three Months Ended June 30, 2024		Six Months Ended June 30, 2024
Allowance for Credit Losses:
Beginning Balance	$	759	$	694
Benefit for credit losses		(156)		(91)
Balance at June 30, 2024	$	603	$	603


		Three Months Ended June 30, 2023		Six Months Ended June 30, 2023
Allowance for Credit Losses:
Beginning Balance	$	689	$	-
Impact of adopting ASU No. 2016-13 ("CECL") effective January 1, 2023		-		1,266
Benefit for credit losses		(435)		(1,012)
Balance at June 30, 2023	$	254	$	254

The following table sets forth the delinquency status of total loans receivable as of June 30, 2024:



													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	$	4,905	$	237	$	173	$	5,315	$	237,391	$	242,706	$	-
Commercial and multi-family		20,945		797		23,897		45,639		2,294,746		2,340,385		-
Construction		-		-		1,164		1,164		172,043		173,207		577
Commercial business⁽¹⁾		4,542		1,287		2,273		8,102		266,804		274,906		-
Business express		3,766		3,535		50		7,351		93,098		100,449		-
Home equity⁽²⁾		981		81		-		1,062		65,781		66,843		-
Consumer		-		20		-		20		2,033		2,053		-
Total	$	35,139	$	5,957	$	27,557	$	68,653	$	3,131,896	$	3,200,549	$	577

(1) Excludes Business express loans.

(2) Includes home equity lines of credit.

The following table sets forth the delinquency status of total loans receivable at December 31, 2023:



													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	$	4,701	$	-	$	270	$	4,971	$	243,324	$	248,295	$	-
Commercial and multi-family		1,853		7,876		6,842		16,571		2,417,544		2,434,115		-
Construction		3,641		-		586		4,227		188,589		192,816		-
Commercial business⁽¹⁾		2,314		362		1,081		3,757		265,517		269,274		-
Business express		1,922		249		50		2,221		100,707		102,928		-
Home equity⁽²⁾		907		-		-		907		65,424		66,331		-
Consumer		-		-		-		-		3,643		3,643		-
Total	$	15,338	$	8,487	$	8,829	$	32,654	$	3,284,748	$	3,317,402	$	-

(1) Excludes Business express loans.

(2) Includes home equity lines of credit.

‎

Note 7 - Loans Receivable and Allowance for Credit Losses (Continued)

Modifications

The Company adopted Accounting Standards Update (“ASU”) 2022-02, Financial Instruments - Credit Losses (Topic 326) Troubled Debt Restructurings and Vintage Disclosures (“ASU 2022-02”) effective January 1, 2023. The amendments in ASU 2022-02 eliminated the recognition and measurement of troubled debt restructurings and enhanced disclosures for loan modifications to borrowers experiencing financial difficulty.

The following table shows the amortized cost basis of loans modified to borrowers experiencing financial difficulty, disaggregated by loan category and type of concession granted for the three and six months ended June 30, 2024.


	For the three Months Ended June 30, 2024
	(In Thousands)
	Number		Payment Delay		Term Extension		Total Principal	% of Total Class of Financing Receivable
Business Express	80	$	-	$	17,536	$	17,536	17.46	%


	For the Six Months Ended June 30, 2024
	(In Thousands)
	Number		Payment Delay		Term Extension		Total Principal	% of Total Class of Financing Receivable
Residential one-to-four family	1	$	177	$		$	177	0.07	%
Business Express	80		-		17,536		17,536	17.46
	81	$	177	$	17,536	$	17,713	0.55	%

The following table presents loan modifications made during 2024 by payment status as of June 30, 2024.


	For the Six Months Ended June 30, 2024
	(In Thousands)
		Current		30-59 Days Past Due		60-90 Days Past Due		Non-accrual		Total
Residential one-to-four family	$	-	$	-	$	-	$	177	$	177
Business Express		17,333		-		-		203		17,536
	$	17,333	$	-	$	-	$	380	$	17,713

The Company monitors the performance of loans modified to borrowers experiencing financial difficulty to understand the effectiveness of the modification efforts. The loans modified during the six months ended June 30, 2024 were current with payments.

The Company did not have any loans that were both experiencing financial difficulty and modified during the six months ending June 30, 2023.

Note 7 - Loans Receivable and Allowance for Credit Losses (Continued)

The tables below set forth the amounts and types of non-accrual loans in the Bank’s loan portfolio at June 30, 2024 and December 31, 2023, respectively. Loans are placed on non-accrual status when they become more than 90 days delinquent, or when the collection of principal and/or interest become doubtful.

As of June 30, 2024 and December 31, 2023, non-accrual loans differed from the amount of total loans past due 90 days due to loans that were previously 90 days past due both of which are maintained on nonaccrual status for a minimum of six months until the borrower has demonstrated their ability to satisfy the terms of the loan.


	As of June 30, 2024
	(in Thousands)
		Nonaccrual loans with an Allowance for Credit Losses		Nonaccrual loans without an Allowance for Credit Losses		Total Nonaccrual loans		Amortized Cost of Loans Past due 90 days and Still Accruing
Residential one-to-four family	$	-	$	350	$	350	$	-
Commercial and multi-family		2,029		25,767		27,796		-
Construction		-		586		586		577
Commercial business ⁽¹⁾		1,544		1,926		3,470		-
Business express loans		203		-		203		-
Home equity ⁽²⁾		-		43		43		-
Consumer		-		-		-		-
Total	$	3,776	$	28,672	$	32,448	$	577

(1) Excludes Business express loans.

(2) Includes home equity lines of credit.


	As of December 31, 2023
	(in Thousands)
		Nonaccrual loans with an Allowance for Credit Losses		Nonaccrual loans without an Allowance for Credit Losses		Total Nonaccrual loans		Amortized Cost of Loans Past due 90 days and Still Accruing
Residential one-to-four family	$	-	$	270	$	270	$	-
Commercial and multi-family		2,029		6,655		8,684		-
Construction		2,312		1,980		4,292		-
Commercial business ⁽¹⁾		2,050		2,892		4,942		-
Business express loans		549		-		549		-
Home equity ⁽²⁾		-		46		46		-
Total	$	6,940	$	11,843	$	18,783	$	-

(1) Excludes Business express loans.

(2) Includes home equity lines of credit.

Had non-accrual loans been performing in accordance with their original terms, the interest income recognized for the six months ended June 30, 2024 and the twelve months ended December 31, 2023 would have been approximately $2.8 million and $1.9 million, respectively. Interest income recognized on loans returned to accrual was approximately $1.1 million and $314,000, respectively. The Bank has not committed to lend additional funds to the borrowers whose loans have been placed on nonaccrual status. At June 30, 2024, there were $577,000 loans more than ninety days past due and still accruing interest. At December 31, 2023 there were no loans more than ninety days past due and still accruing interest.

‎

Note 7 - Loans Receivable and Allowance for Credit Losses (Continued)

Criticized and Classified Assets

Company policies provide for a classification system for problem assets. Under this classification system, problem assets are classified as “substandard,” “doubtful,” or “loss.”

The Company’s internal credit risk grades are based on the definitions currently utilized by the banking regulatory agencies. The grades assigned and definitions are as follows, and loans graded excellent, above average, good and watch list (risk ratings 1-5) are treated as “pass” for grading purposes. The “criticized” risk rating (6) and the “classified” risk ratings (7-9) are detailed below:

6 – Special Mention- Loans currently performing but with potential weaknesses including adverse trends in borrower’s operations, credit quality, financial strength, or possible collateral deficiency.

7 – Substandard- Loans that are inadequately protected by current sound worth, paying capacity, and collateral support. Loans on “non-accrual” status. The loan needs special and corrective attention.

8 – Doubtful- Weaknesses in credit quality and collateral support make full collection improbable, but pending reasonable factors remain sufficient to defer the loss status.

9 – Loss- Continuance as a bankable asset is not warranted. However, this does not preclude future attempts at partial recovery.

‎

Note 7 - Loans Receivable and Allowance for Credit Losses (Continued)

The following table summarizes the Company's loans by year of origination and internally assigned credit risk rating at June 30, 2024 and gross charge-offs for the six months ended June 30, 2024.



Loans by Year of Origination at June 30, 2024
		2024		2023		2022		2021		2020		Prior		Revolving Loans		Revolving Loans to Term Loans		Total
Residential one-to-four family
Pass	$	2,498	$	16,740	$	52,329	$	38,518	$	31,014	$	101,257	$	-	$	-	$	242,356
Special Mention		-		-		-		-		-		-		-		-		-
Substandard		-		-		-		173		-		177		-		-		350
Total one-to-four family	$	2,498	$	16,740	$	52,329	$	38,691	$	31,014	$	101,434	$	-	$	-	$	242,706

Commercial and multi-family
Pass	$	3,172	$	215,327	$	763,917	$	192,100	$	196,930	$	784,482	$	3,700	$	-	$	2,159,628
Special Mention		-		9,836		33,988		29,927		15,500		19,622		140		-		109,013
Substandard		-		-		14,799		2,812		3,575		50,558		-		-		71,744
Total Commercial and multi-family	$	3,172	$	225,163	$	812,704	$	224,839	$	216,005	$	854,662	$	3,840	$	-	$	2,340,385

Construction
Pass	$	-	$	31,766	$	69,271	$	51,141	$	7,948	$	-	$	5,710	$	-	$	165,836
Special Mention		-		-		-		3,366		991		1,850		-		-		6,207
Substandard		-		-		-		578		586		-		-		-		1,164
Total Construction	$	-	$	31,766	$	69,271	$	55,085	$	9,525	$	1,850	$	5,710	$	-	$	173,207

Commercial business
Pass	$	-	$	2,496		282		2,090	$	3,958	$	35,873	$	198,844	$	781	$	244,324
Special Mention		-		-		-		571		-		3,576		14,899		439		19,485
Substandard		-		-		-		-		-		3,810		5,314		1,973		11,097
Total Commercial business	$	-	$	2,496	$	282	$	2,661	$	3,958	$	43,259	$	219,057	$	3,193	$	274,906

Business express
Pass	$	-	$	-	$	-	$	-	$	-	$	-	$	78,602	$	17,226	$	95,828
Special Mention		-		-		-		-		-		-		2,041		107		2,148
Substandard		-		-		-		-		-		-		2,270		203		2,473
Total Business express	$	-	$	-	$	-	$	-	$	-	$	-	$	82,913	$	17,536	$	100,449

Home equity
Pass	$	156	$	3,891	$	1,435	$	528	$	738	$	6,691	$	52,403	$	746	$	66,588
Special Mention		-		-		-		-		-		-		-		-		-
Substandard		-		-		43		-		-		-		-		212		255
Total Home equity	$	156	$	3,891	$	1,478	$	528	$	738	$	6,691	$	52,403	$	958	$	66,843

Consumer
Pass	$	302	$	1,176	$	430	$	16	$	102	$	21	$	6	$	-	$	2,053
Special Mention		-		-		-		-		-		-		-		-		-
Substandard		-		-		-		-		-		-		-		-		-
Total Consumer	$	302	$	1,176	$	430	$	16	$	102	$	21	$	6	$	-	$	2,053

Total Loans	$	6,128	$	281,232	$	936,494	$	321,820	$	261,342	$	1,007,917	$	363,929	$	21,687	$	3,200,549

Gross charge-offs	$	446	$	-	$	-	$	-	$	-	$	567	$	1,916	$	-	$	2,929

‎

Note 7 - Loans Receivable and Allowance for Credit Losses (Continued)

The following table summarizes the Company's loans by year of origination and internally assigned credit risk rating at December 31, 2023.


Loans by Year of Origination at December 31, 2023
		2023		2022		2021		2020		2019		Prior		Revolving Loans		Revolving Loans to Term Loans		Total
Residential one-to-four family
Pass	$	17,080	$	53,623	$	38,178	$	31,420	$	12,067	$	93,764	$	-	$	-	$	246,132
Special Mention		-		492		91		-		-		-		-		-		583
Substandard		-		-		1,310		-		-		270		-		-		1,580
Total one-to-four family	$	17,080	$	54,115	$	39,579	$	31,420	$	12,067	$	94,034	$	-	$	-	$	248,295

Commercial and multi-family
Pass	$	222,435	$	778,076	$	224,823	$	214,768	$	50,755	$	824,375	$	1,922	$	-	$	2,317,154
Special Mention		9,908		34,375		-		-		529		4,453		140		-		49,405
Substandard		-		14,931		4,023		3,575		-		45,027		-		-		67,556
Total Commercial and multi-family	$	232,343	$	827,382	$	228,846	$	218,343	$	51,284	$	873,855	$	2,062	$	-	$	2,434,115

Construction
Pass	$	21,730	$	74,180	$	59,564	$	21,462	$	-	$	5,878	$	5,710	$	-	$	188,524
Special Mention		-		-		-		-		-		-		-		-		-
Substandard		-		1,394		-		586		-		2,312		-		-		4,292
Total Construction	$	21,730	$	75,574	$	59,564	$	22,048	$	-	$	8,190	$	5,710	$	-	$	192,816

Commercial business
Pass	$	3,179	$	297	$	2,967	$	4,234	$	7,080	$	33,675	$	201,008	$	150	$	252,590
Special Mention		-		-		-		-		317		830		4,410		-		5,557
Substandard		-		-		-		-		-		4,703		6,424		-		11,127
Total Commercial business	$	3,179	$	297	$	2,967	$	4,234	$	7,397	$	39,208	$	211,842	$	150	$	269,274

Business express
Pass	$	-	$	-	$	-	$	-	$	-	$	-	$	101,531	$	-	$	101,531
Special Mention		-		-		-		-		-		-		600		-		600
Substandard		-		-		-		-		-		-		797		-		797
Total Business express	$	-	$	-	$	-	$	-	$	-	$	-	$	102,928	$	-	$	102,928

Home equity
Pass	$	5,022	$	1,487	$	553	$	769	$	1,280	$	6,181	$	50,111	$	553	$	65,956
Special Mention		-		-		-		-		-		-		-		-		-
Substandard		-		46		-		-		-		-		117		212		375
Total Home equity	$	5,022	$	1,533	$	553	$	769	$	1,280	$	6,181	$	50,228	$	765	$	66,331

Consumer
Pass	$	1,497	$	471	$	1,521	$	109	$	39	$	-	$	6	$	-	$	3,643
Special Mention		-		-		-		-		-		-		-		-		-
Substandard		-		-		-		-		-		-		-		-		-
Total Consumer	$	1,497	$	471	$	1,521	$	109	$	39	$	-	$	6	$	-	$	3,643

Total Loans	$	280,851	$	959,372	$	333,030	$	276,923	$	72,067	$	1,021,468	$	372,776	$	915	$	3,317,402

Gross charge-offs	$	-	$	-	$	-	$	-	$	-	$	-	$	805	$	-	$	805