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Loans Receivable and Allowance for Credit Losses (Tables) | 12 Months Ended
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Dec. 31, 2024
Loans Receivable and Allowance for Credit Losses [Abstract] |
Recorded Investment in Loans Receivable | The following table presents the recorded investment in loans receivable at December 31, 2024 and December 31, 2023 by segment and class:
| December 31, 2024 |  | December 31, 2023
| (In Thousands)
Loans: |  |  |  |  |
Residential one-to-four family | $ | 239,870 |  | $ | 248,295
Commercial and multi-family |  | 2,246,677 |  |  | 2,434,115
Construction |  | 135,434 |  |  | 192,816
Commercial business |  | 249,852 |  |  | 269,274
Business express |  | 92,947 |  |  | 102,928
Home equity (1) |  | 66,769 |  |  | 66,331
Consumer |  | 2,235 |  |  | 3,643
Total Loans |  | 3,033,784 |  |  | 3,317,402
Less: |  |  |  |  |
Deferred loan fees, net |  | (2,736) |  |  | (4,086)
Allowance for credit losses |  | (34,789) |  |  | (33,608)
|  | (37,525) |  |  | (37,694)
Total Loans, net | $ | 2,996,259 |  | $ | 3,279,708
(1) Includes home equity lines of credit.
Related Party Loans |
| Years Ended December 31,
|  | 2024 |  |  | 2023
| (In Thousands)
Balance – beginning | $ | 28,208 |  | $ | 26,265
Loans originated |  | - |  |  | 2,882
Collections of principal |  | (1,703) |  |  | (939)
Balance - ending | $ | 26,505 |  | $ | 28,208
Allowance for Credit Losses | The following tables set forth the activity in the Bank’s allowance for credit losses and recorded investment in loans receivable at December 31, 2024, December 31, 2023 and December 31, 2022. The table also details the amount of total loans receivable, which are evaluated individually, and collectively, for impairment, 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 |  | Business Express |  | Home Equity (1) |  | Consumer |  | Unallocated |  | Total
Allowance for credit losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning Balance, December 31, 2023 | $ | 2,344 |  | $ | 16,301 |  | $ | 3,841 |  | $ | 5,811 |  | $ | 4,542 |  | $ | 691 |  | $ | 78 |  | $ | - |  | $ | 33,608
Charge-offs |  | - |  |  | (531) |  |  | - |  |  | (1,799) |  |  | (8,038) |  |  | - |  |  | (467) |  |  | - |  |  | (10,835)
Recoveries |  | 48 |  |  | - |  |  | - |  |  | 371 |  |  | 27 |  |  | - |  |  | - |  |  | - |  |  | 446
Provision (benefit) |  | (445) |  |  | (4,064) |  |  | (1,821) |  |  | 6,354 |  |  | 11,238 |  |  | (97) |  |  | 405 |  |  | - |  |  | 11,570
Ending Balance, December 31, 2024 | $ | 1,947 |  | $ | 11,706 |  | $ | 2,020 |  | $ | 10,737 |  | $ | 7,769 |  | $ | 594 |  | $ | 16 |  | $ | - |  | $ | 34,789
Ending Balance attributable to loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated | $ | - |  | $ | 1,473 |  | $ | - |  | $ | 4,725 |  | $ | 5,619 |  | $ | - |  | $ | - |  | $ | - |  | $ | 11,817
Collectively evaluated |  | 1,947 |  |  | 10,233 |  |  | 2,020 |  |  | 6,012 |  |  | 2,150 |  |  | 594 |  |  | 16 |  |  | - |  |  | 22,972
Ending Balance, December 31, 2024 | $ | 1,947 |  | $ | 11,706 |  | $ | 2,020 |  | $ | 10,737 |  | $ | 7,769 |  | $ | 594 |  | $ | 16 |  | $ | - |  | $ | 34,789
Loans Receivables: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated | $ | 853 |  | $ | 64,735 |  | $ | 586 |  | $ | 11,163 |  | $ | 5,619 |  | $ | 443 |  | $ | - |  | $ | - |  | $ | 83,399
Collectively evaluated |  | 239,017 |  |  | 2,181,942 |  |  | 134,848 |  |  | 238,689 |  |  | 87,328 |  |  | 66,326 |  |  | 2,235 |  |  | - |  |  | 2,950,385
Total Gross Loans | $ | 239,870 |  | $ | 2,246,677 |  | $ | 135,434 |  | $ | 249,852 |  | $ | 92,947 |  | $ | 66,769 |  | $ | 2,235 |  | $ | - |  | $ | 3,033,784
(1) Includes home equity lines of credit.
| Residential |  |  | Commercial & Multi-family |  | Construction |  | Commercial Business |  | Business Express |  | Home Equity (1) |  | 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) Includes home equity lines of credit. ‎ Note 5- Loans Receivable and Allowance for Credit losses (continued)
| Residential |  |  | Commercial & Multi-family |  | Construction |  | Commercial Business |  | Business Express |  | Home Equity (1) |  | Consumer |  | Unallocated |  | Total
Allowance for credit losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning Balance, December 31, 2021 | $ | 4,094 |  | $ | 22,065 |  | $ | 2,231 |  | $ | 8,000 |  | $ | - |  | $ | 533 |  | $ | 14 |  | $ | 182 |  | $ | 37,119
Charge-offs |  | - |  |  | - |  |  | - |  |  | (2,095) |  |  | - |  |  | - |  |  | - |  |  | - |  |  | (2,095)
Recoveries |  | 23 |  |  | - |  |  | - |  |  | 191 |  |  | - |  |  | 12 |  |  | 198 |  |  | - |  |  | 424
Provision (credit) |  | (1,643) |  |  | (316) |  |  | (137) |  |  | (1,601) |  |  | 872 |  |  | (60) |  |  | (188) |  |  | (2) |  |  | (3,075)
Ending Balance, December 31, 2022 | $ | 2,474 |  | $ | 21,749 |  | $ | 2,094 |  | $ | 4,495 |  | $ | 872 |  | $ | 485 |  | $ | 24 |  | $ | 180 |  | $ | 32,373
Ending Balance attributable to loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated | $ | 196 |  | $ | - |  | $ | 518 |  | $ | 2,066 |  | $ | - |  | $ | 4 |  | $ | - |  | $ | - |  | $ | 2,784
Collectively evaluated |  | 2,278 |  |  | 21,749 |  |  | 1,576 |  |  | 2,429 |  |  | 872 |  |  | 481 |  |  | 24 |  |  | 180 |  |  | 29,589
Ending Balance, December 31, 2022 | $ | 2,474 |  | $ | 21,749 |  | $ | 2,094 |  | $ | 4,495 |  | $ | 872 |  | $ | 485 |  | $ | 24 |  | $ | 180 |  | $ | 32,373
Loans Receivables: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated | $ | 5,147 |  | $ | 15,397 |  | $ | 3,180 |  | $ | 3,821 |  | $ | - |  | $ | 727 |  | $ | - |  | $ | - |  | $ | 28,272
Collectively evaluated |  | 244,976 |  |  | 2,329,832 |  |  | 141,751 |  |  | 211,619 |  |  | 66,567 |  |  | 56,161 |  |  | 3,240 |  |  | - |  |  | 3,054,146
Total Gross Loans | $ | 250,123 |  | $ | 2,345,229 |  | $ | 144,931 |  | $ | 215,440 |  | $ | 66,567 |  | $ | 56,888 |  | $ | 3,240 |  | $ | - |  | $ | 3,082,418
(1) Includes home equity lines of credit.
Allowance for Credit Losses on Off-Balance Sheet Exposures |
|  | Twelve Months Ended December 31, 2024 |  |  | Twelve Months Ended December 31, 2023
Allowance for Credit Losses: |  |  |  |  |
Beginning Balance | $ | 694 |  | $ | -
Impact of adopting ASU No. 2016-13 ("CECL") effective January 1, 2023 |  | - |  |  | 1,266
Provision (benefit) for credit losses |  | 119 |  |  | (572)
| $ | 813 |  | $ | 694
Non-Accruing Loans |
| As of December 31, 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 | $ | 534 |  | $ | 853 |  | $ | 1,387 |  | $ | -
Commercial and multi-family |  | 4,823 |  |  | 28,151 |  |  | 32,974 |  |  | 6,049
Construction |  | - |  |  | 586 |  |  | 586 |  |  | -
Commercial business |  | 5,208 |  |  | 2,425 |  |  | 7,633 |  |  | -
Business express |  | 1,706 |  |  | 191 |  |  | 1,897 |  |  | 1,677
Home equity (1) |  | - |  |  | 231 |  |  | 231 |  |  | -
Total | $ | 12,271 |  | $ | 32,437 |  | $ | 44,708 |  | $ | 7,726
(1) 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 |  | 2,599 |  |  | 2,892 |  |  | 5,491 |  |  | -
Business express |  | - |  |  | - |  |  | - |  |  | -
Home equity (1) |  | - |  |  | 46 |  |  | 46 |  |  | -
Total | $ | 6,940 |  | $ | 11,843 |  | $ | 18,783 |  | $ | -
(1) Includes home equity lines of credit.
Delinquency Status of Total Loans | The following table sets forth the delinquency status of total loans receivable at December 31, 2024:
|  |  |  |  |  |  | Greater Than |  |  |  |  |  |  |  |  |  |  | Loans Receivable
| 30-59 Days |  | 60-90 Days |  | 90 Days |  | Total Past |  |  |  | Total Loans |  | >90 Days
| Past Due |  | Past Due |  | Past Due |  | Due |  | Current |  | Receivable |  | and Accruing
|  | (In Thousands)
Residential one-to-four family | $ | 3,229 |  | $ | - |  | $ | 302 |  | $ | 3,531 |  | $ | 236,339 |  | $ | 239,870 |  | $ | -
Commercial and multi-family |  | 8,279 |  |  | 2,673 |  |  | 30,903 |  |  | 41,855 |  |  | 2,204,822 |  |  | 2,246,677 |  |  | 6,049
Construction |  | - |  |  | 1,829 |  |  | 586 |  |  | 2,415 |  |  | 133,019 |  |  | 135,434 |  |  | -
Commercial business |  | 9,125 |  |  | 580 |  |  | 3,795 |  |  | 13,500 |  |  | 236,352 |  |  | 249,852 |  |  | -
Business express |  | 6,714 |  |  | 3,452 |  |  | 3,141 |  |  | 13,307 |  |  | 79,640 |  |  | 92,947 |  |  | 1,677
Home equity (1) |  | 1,846 |  |  | 18 |  |  | 231 |  |  | 2,095 |  |  | 64,674 |  |  | 66,769 |  |  | -
Consumer |  | - |  |  | - |  |  | - |  |  | - |  |  | 2,235 |  |  | 2,235 |  |  | -
Total | $ | 29,193 |  | $ | 8,552 |  | $ | 38,958 |  | $ | 76,703 |  | $ | 2,957,081 |  | $ | 3,033,784 |  | $ | 7,726
(1) Includes home equity lines of credit. The following table sets forth the delinquency status of total loans receivable at December 31, 2023:
|  |  |  |  |  |  | Greater Than |  |  |  |  |  |  |  |  |  |  | Loans Receivable
| 30-59 Days |  | 60-90 Days |  | 90 Days |  | Total Past |  |  |  |  | Total Loans |  | >90 Days
| Past Due |  | Past Due |  | Past Due |  | 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 |  | 2,314 |  |  | 363 |  |  | 1,081 |  |  | 3,758 |  |  | 265,516 |  |  | 269,274 |  |  | -
Business express |  | 1,922 |  |  | 248 |  |  | 50 |  |  | 2,220 |  |  | 100,708 |  |  | 102,928 |  |  | -
Home equity (1) |  | 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) Includes home equity lines of credit.
Amortized Cost Basis Of Loans Modified |
|  | For the Twelve Months Ended December 31, 2024
|  | (In Thousands)
|  | Number |  |  | Payment Delay |  |  | Term Extension |  | Rate & Term Reduction |  |  |  | Total Principal |  |  | % of Total Class of Financing Receivable
Residential one-to-four family |  | 1 |  | $ | 173 |  | $ | - | $ | - |  |  | $ | 173 |  |  | 0.07 | %
Commercial and multi-family |  | 1 |  |  | - |  |  | - |  | 15,036 |  |  |  | 15,036 |  |  | 0.67 |
Commercial business |  | 1 |  |  | 1,294 |  |  | - |  | - |  |  |  | 1,294 |  |  | 0.52 |
Business express |  | 276 |  |  | - |  |  | 63,299 |  | - |  |  |  | 63,299 |  |  | 68.10 |
|  | 279 |  | $ | 1,467 |  | $ | 63,299 | $ | 15,036 |  |  | $ | 79,802 |  |  | 2.63 | %
Loan Modifications |
| For the Twelve Months Ended December 31, 2024
| (In Thousands)
|  | Current |  |  | 30-59 Days Past Due |  |  | 60-90 Days Past Due |  | Greater than 90 Days Past Due & Accruing |  |  |  | Nonaccrual |  |  | Total
Residential one-to-four family | $ | - |  | $ | 173 |  | $ | - | $ | - |  |  | $ | - |  | $ | 173
Commercial and multi-family |  | 15,036 |  |  | - |  |  | - |  | - |  |  |  | - |  |  | 15,036
Commercial business |  | - |  |  | - |  |  | - |  | - |  |  |  | 1,294 |  |  | 1,294
Business express |  | 62,791 |  |  | 74 |  |  | - |  | - |  |  |  | 434 |  |  | 63,299
| $ | 77,827 |  | $ | 247 |  | $ | - | $ | - |  |  | $ | 1,728 |  | $ | 79,802
Loan Portfolio by Pass Rating | The following table presents the loan portfolio types summarized by the aggregate pass rating and the classified ratings of special mention, substandard, doubtful, and loss within the Company’s internal risk rating system as of December 31, 2024, and 2023 (In Thousands):
Loans by Year of Origination at December 31, 2024
|  | 2024 |  |  | 2023 |  |  | 2022 |  |  | 2021 |  |  | 2020 |  |  | Prior |  |  | Revolving Loans |  |  | Revolving Loans to Term Loans |  |  | Total
Residential one-to-four family |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | 12,059 |  | $ | 16,586 |  | $ | 47,544 |  | $ | 37,639 |  | $ | 28,550 |  | $ | 92,376 |  | $ | - |  | $ | - |  | $ | 234,754
Special Mention |  | - |  |  | - |  |  | 3,555 |  |  | - |  |  | - |  |  | 174 |  |  | - |  |  | - |  |  | 3,729
Substandard |  | - |  |  | - |  |  | 301 |  |  | 173 |  |  | - |  |  | 913 |  |  | - |  |  | - |  |  | 1,387
Total one-to-four family | $ | 12,059 |  | $ | 16,586 |  | $ | 51,400 |  | $ | 37,812 |  | $ | 28,550 |  | $ | 93,463 |  | $ | - |  | $ | - |  | $ | 239,870
Commercial and multi-family |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | 9,105 |  | $ | 202,931 |  | $ | 631,493 |  | $ | 157,054 |  | $ | 166,242 |  | $ | 709,239 |  | $ | 2,610 |  | $ | - |  | $ | 1,878,674
Special Mention |  | - |  |  | 9,761 |  |  | 132,712 |  |  | 37,600 |  |  | 9,232 |  |  | 47,756 |  |  | 140 |  |  | - |  |  | 237,201
Substandard |  | - |  |  | 10,115 |  |  | 33,958 |  |  | 13,070 |  |  | 11,782 |  |  | 61,877 |  |  | - |  |  | - |  |  | 130,802
Total Commercial and multi-family | $ | 9,105 |  | $ | 222,807 |  | $ | 798,163 |  | $ | 207,724 |  | $ | 187,256 |  | $ | 818,872 |  | $ | 2,750 |  | $ | - |  | $ | 2,246,677
Construction |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | 4 |  | $ | 34,906 |  | $ | 37,625 |  | $ | - |  | $ | - |  | $ | - |  | $ | 5,824 |  | $ | - |  | $ | 78,359
Special Mention |  | - |  |  | 1,521 |  |  | 3,792 |  |  | 47,174 |  |  | 3,745 |  |  | - |  |  | - |  |  | - |  |  | 56,232
Substandard |  | - |  |  | 257 |  |  | - |  |  | - |  |  | 586 |  |  | - |  |  | - |  |  | - |  |  | 843
Total Construction | $ | 4 |  | $ | 36,684 |  | $ | 41,417 |  | $ | 47,174 |  | $ | 4,331 |  | $ | - |  | $ | 5,824 |  | $ | - |  | $ | 135,434
Commercial business |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | - |  | $ | 2,477 |  | $ | 266 |  | $ | 475 |  | $ | 3,711 |  | $ | 28,902 |  | $ | 163,444 |  | $ | 663 |  | $ | 199,938
Special Mention |  | - |  |  | 8,874 |  |  | - |  |  | 1,878 |  |  | 194 |  |  | 4,835 |  |  | 20,298 |  |  | 409 |  |  | 36,488
Substandard |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 5,884 |  |  | 7,542 |  |  | - |  |  | 13,426
Total Commercial business | $ | - |  | $ | 11,351 |  | $ | 266 |  | $ | 2,353 |  | $ | 3,905 |  | $ | 39,621 |  | $ | 191,284 |  | $ | 1,072 |  | $ | 249,852
Business express |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | - |  | $ | - |  | $ | - |  | $ | - |  | $ | - |  | $ | - |  | $ | 23,739 |  | $ | 59,189 |  | $ | 82,928
Special Mention |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 1,506 |  |  | 2,894 |  |  | 4,400
Substandard |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 3,082 |  |  | 2,537 |  |  | 5,619
Total Business express | $ | - |  | $ | - |  | $ | - |  | $ | - |  | $ | - |  | $ | - |  | $ | 28,327 |  | $ | 64,620 |  | $ | 92,947
Home equity |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | 300 |  | $ | 3,767 |  | $ | 1,369 |  | $ | 501 |  | $ | 549 |  | $ | 5,754 |  | $ | 51,829 |  | $ | 2,186 |  | $ | 66,255
Special Mention |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | 18 |  |  | - |  |  | - |  |  | 18
Substandard |  | - |  |  | - |  |  | 53 |  |  | - |  |  | 81 |  |  | - |  |  | - |  |  | 362 |  |  | 496
Total Home equity | $ | 300 |  | $ | 3,767 |  | $ | 1,422 |  | $ | 501 |  | $ | 630 |  | $ | 5,772 |  | $ | 51,829 |  | $ | 2,548 |  | $ | 66,769
Consumer |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | 623 |  | $ | 1,117 |  | $ | 389 |  | $ | 5 |  | $ | 95 |  | $ | - |  | $ | 6 |  | $ | - |  | $ | 2,235
Special Mention |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | -
Substandard |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | - |  |  | -
Total Consumer | $ | 623 |  | $ | 1,117 |  | $ | 389 |  | $ | 5 |  | $ | 95 |  | $ | - |  | $ | 6 |  | $ | - |  | $ | 2,235
Total Loans | $ | 22,091 |  | $ | 292,312 |  | $ | 893,057 |  | $ | 295,569 |  | $ | 224,767 |  | $ | 957,728 |  | $ | 280,020 |  | $ | 68,240 |  | $ | 3,033,784
Gross charge-offs | $ | 446 |  | $ | 20 |  | $ | - |  | $ | 174 |  | $ | - |  | $ | 1,133 |  | $ | 8,381 |  | $ | 681 |  | $ | 10,835
‎ Note 5 - Loans Receivable and Allowance for Credit losses (continued)
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

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