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Loans Receivable and Allowance for Credit Losses (Tables)
 9 Months Ended
Sep. 30, 2025
Loans Receivable and Allowance for Credit Losses [Abstract]  
Recorded Investment in Loans Receivable

September 30, 2025

December 31, 2024

(In Thousands)

Residential one-to-four family

$

227,140 

$

239,870 

Commercial and multi-family (1)

2,080,088 

2,155,929 

Cannabis related (2)

69,102 

103,206 

Construction (1)

105,980 

130,589 

Commercial business (1) (3)

192,762 

242,239 

Business express

78,253 

92,947 

Home equity (4)

73,566 

66,769 

Consumer

2,042 

2,235 

2,828,933 

3,033,784 

Less:

Deferred loan fees, net

(2,198)

(2,736)

Allowance for credit losses

(37,803)

(34,789)

Total Loans, net

$

2,788,932 

$

2,996,259 

(1) Excludes Cannabis related loans.

(2) Includes Commercial and multi-family, Construction, and Commercial business loans to borrowers involved in the cannabis industry.

(3) Excludes Business express loans.

(4) Includes Home equity lines of credit.
Allowance for Credit Losses on loans The following tables set forth the activity in the Company’s allowance for credit losses on loans for the three and nine months ended September 30, 2025, and the related portion of the allowance for credit losses that is allocated to each loan class, as of September 30, 2025 (in thousands):

Residential

Commercial & Multi-family (1)

Cannabis Related (2)

Construction (1)

Commercial Business (1)(3)

Business Express

Home Equity (4)

Consumer

Total

Allowance for credit losses on loans:

Beginning Balance, July 1, 2025

$

1,837 

$

12,419 

$

14,852 

$

1,907 

$

8,898 

$

10,093 

$

635 

$

17 

$

50,658 

Charge-offs:

-

(79)

(12,756)

-

(3,453)

(1,206)

-

-

(17,494)

Recoveries:

9 

-

-

-

2 

548 

-

-

559 

Provision (benefit):

(219)

(383)

(631)

(243)

6,667 

(1,057)

(48)

(6)

4,080 

Ending Balance, September 30, 2025

1,627 

11,957 

1,465 

1,664 

12,114 

8,378 

587 

11 

37,803 

Ending Balance attributable to loans:

Individually evaluated

-

3,405 

-

262 

8,129 

2,833 

-

-

14,629 

Collectively evaluated

1,627 

8,552 

1,465 

1,402 

3,985 

5,545 

587 

11 

23,174 

Ending Balance, September 30, 2025

1,627 

11,957 

1,465 

1,664 

12,114 

8,378 

587 

11 

37,803 

Loans Receivables:

Individually evaluated

302 

105,115 

-

2,310 

18,355 

2,833 

443 

-

129,358 

Collectively evaluated

226,838 

1,974,973 

69,102 

103,670 

174,407 

75,420 

73,123 

2,042 

2,699,575 

Total Gross Loans:

$

227,140 

$

2,080,088 

$

69,102 

$

105,980 

$

192,762 

$

78,253 

$

73,566 

$

2,042 

$

2,828,933 

(1) Excludes Cannabis related loans.

(2) Includes Commercial and multi-family, Construction, and Commercial business loans to borrowers involved in the cannabis industry.

(3) Excludes Business express loans.

(4) Includes Home equity lines of credit.

Residential

Commercial & Multi-family (1)

Cannabis Related (2)

Construction (1)

Commercial Business (1)(3)

Business Express

Home Equity (4)

Consumer

Total

Allowance for credit losses on loans:

Beginning Balance, January 1, 2025

$

1,947 

$

10,451 

$

1,613 

$

1,902 

$

10,497 

$

7,769 

$

594 

$

16 

$

34,789 

Charge-offs:

-

(419)

(12,756)

-

(5,301)

(9,246)

-

-

(27,722)

Recoveries:

43 

-

-

-

6 

871 

-

-

920 

Provision (benefit):

(363)

1,925 

12,608 

(238)

6,912 

8,984 

(7)

(5)

29,816 

Ending Balance, September 30, 2025

$

1,627 

$

11,957 

$

1,465 

$

1,664 

$

12,114 

$

8,378 

$

587 

$

11 

$

37,803 

(1) Excludes Cannabis related loans.

(2) Includes Commercial and multi-family, Construction, and Commercial business loans to borrowers involved in the cannabis industry.

(3) Excludes Business express loans.

(4) Includes Home equity lines of credit.


‎

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

The following tables set forth the activity in the Company’s allowance for credit losses on loans for the three and nine months ended September 30, 2024, and the related portion of the allowance for credit losses that is allocated to each loan class, as of September 30, 2024 (in thousands): 

Residential

Commercial & Multi-family (1)

Cannabis Related (2)

Construction (1)

Commercial Business (1)(3)

Business Express

Home Equity (4)

Consumer

Total

Allowance for credit losses on loans:

Beginning Balance, July 1, 2024

$

2,039 

$

13,581 

$

1,910 

$

2,760 

$

7,851 

$

6,444 

$

635 

$

23 

$

35,243 

Charge-offs:

-

-

-

-

-

(3,471)

-

-

(3,471)

Recoveries:

8 

-

-

-

22 

1 

-

-

31 

Provision (benefit):

30 

(1,472)

(115)

(503)

754 

4,168 

10 

18 

2,890 

Ending Balance, September 30, 2024

2,077 

12,109 

1,795 

2,257 

8,627 

7,142 

645 

41 

34,693 

Ending Balance attributable to loans:

Individually evaluated

-

971 

-

-

2,025 

3,052 

-

20 

6,068 

Collectively evaluated

2,077 

11,138 

1,795 

2,257 

6,602 

4,090 

645 

21 

28,625 

Ending Balance, September 30, 2024

2,077 

12,109 

1,795 

2,257 

8,627 

7,142 

645 

41 

34,693 

Loans Receivables:

Individually evaluated

235 

56,869 

-

586 

4,993 

3,052 

293 

20 

66,048 

Collectively evaluated

240,815 

2,148,731 

103,396 

141,438 

259,752 

95,905 

67,273 

2,289 

3,059,599 

Total Gross Loans:

$

241,050 

$

2,205,600 

$

103,396 

$

142,024 

$

264,745 

$

98,957 

$

67,566 

$

2,309 

$

3,125,647 

(1) Excludes Cannabis related loans.

(2) Includes Commercial and multi-family, Construction, and Commercial business loans to borrowers involved in the cannabis industry.

(3) Excludes Business express loans.

(4) Includes Home equity lines of credit.

Residential

Commercial & Multi-family (1)

Cannabis Related (2)

Construction (1)

Commercial Business (1)(3)

Business Express

Home Equity (4)

Consumer

Total

Allowance for credit losses on loans:

Beginning Balance, January 1, 2024

$

2,344 

$

15,343 

$

2,344 

$

3,758 

$

4,508 

$

4,542 

$

691 

$

78 

$

33,608 

Charge-offs:

-

-

-

-

(567)

(5,387)

-

(446)

(6,400)

Recoveries:

33 

-

-

-

27 

9 

-

-

69 

Provision (benefit):

(300)

(3,234)

(549)

(1,501)

4,659 

7,978 

(46)

409 

7,416 

Ending Balance, September 30, 2024

$

2,077 

$

12,109 

$

1,795 

$

2,257 

$

8,627 

$

7,142 

$

645 

$

41 

$

34,693 

(1) Excludes Cannabis related loans.

(2) Includes Commercial and multi-family, Construction, and Commercial business loans to borrowers involved in the cannabis industry.

(3) Excludes Business express loans.

(4) Includes Home equity lines of credit.

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

The following tables set forth the activity in the Company’s allowance for credit losses on loans for the three and nine months ended September 30, 2023, and the related portion of the allowance for credit losses that is allocated to each loan class, as of September 30, 2023 (in thousands): 

Residential

Commercial & Multi-family (1)

Cannabis Related (2)

Construction (1)

Commercial Business (1)(3)

Business Express

Home Equity (4)

Consumer

Total

Allowance for credit losses on loans:

Beginning Balance, July 1, 2023

$

2,453 

$

14,679 

$

509 

$

4,024 

$

5,302 

$

2,485 

$

722 

$

31 

$

30,205 

Charge-offs:

-

-

-

-

-

(515)

-

-

(515)

Recoveries:

14 

-

-

-

5 

-

-

-

19 

Provision (benefit):

(23)

(696)

1,331 

568 

1,557 

(485)

(54)

7 

2,205 

Ending Balance, September 30, 2023

2,444 

13,983 

1,840 

4,592 

6,864 

1,485 

668 

38 

31,914 

Ending Balance attributable to loans:

Individually evaluated

-

-

1,213 

608 

701 

250 

-

-

2,772 

Collectively evaluated

2,444 

13,983 

627 

3,984 

6,163 

1,235 

668 

38 

29,142 

Ending Balance, September 30, 2023

2,444 

13,983 

1,840 

4,592 

6,864 

1,485 

668 

38 

31,914 

Loans Receivables:

Individually evaluated

355 

21,945 

5,569 

3,473 

4,064 

250 

212 

-

35,868 

Collectively evaluated

251,490 

2,327,719 

102,635 

176,867 

257,071 

101,008 

65,834 

3,647 

3,286,271 

Total Gross Loans:

$

251,845 

$

2,349,664 

$

108,204 

$

180,340 

$

261,135 

$

101,258 

$

66,046 

$

3,647 

$

3,322,139 

(1) Excludes Cannabis related loans.

(2) Includes Commercial and multi-family, Construction, and Commercial business loans to borrowers involved in the cannabis industry.

(3) Excludes Business express loans.

(4) Includes Home equity lines of credit.

Residential

Commercial & Multi-family (1)

Cannabis Related (2)

Construction (1)

Commercial Business (1)(3)

Business Express

Home Equity (4)

Consumer

Unallocated

Total

Allowance for credit losses on loans:

Ending Balance December 31, 2022

$

2,474 

$

21,381

$

402

$

2,073

$

4,482

$

872 

$

485 

$

24 

$

180 

$

32,373 

Effect of adopting ASU No. 2016-13 ("CECL")

144 

(6,953)

(145)

1,369

1,727

(316)

182 

7 

(180)

(4,165)

Beginning Balance, January 1, 2023

$

2,618 

$

14,428

$

257

$

3,442

$

6,209

$

556 

$

667 

$

31 

$

-

$

28,208 

Charge-offs:

-

-

-

-

(1)

(554)

-

-

-

(555)

Recoveries:

38

-

-

-

30

-

16

-

-

84

Provision (benefit):

(212)

(445)

1,583

1,150

626

1,483

(15)

7

-

4,177

Ending Balance, September 30, 2023

$

2,444

$

13,983

$

1,840

$

4,592

$

6,864

$

1,485

$

668

$

38

$

-

$

31,914

(1) Excludes Cannabis related loans.

(2) Includes Commercial and multi-family, Construction, and Commercial business loans to borrowers involved in the cannabis industry.

(3) Excludes Business express loans.

(4) 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 allowance for credit losses on loans and amount recorded in loans receivable at and for the year ended December 31, 2024. 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 (1)

Cannabis
‎ Related (2)

Construction (1)

Commercial
‎Business (1) (3)

Business Express

Home
‎ Equity (4)

Consumer

Total

Allowance for credit losses on loans:

Beginning Balance, January 1, 2024

$

2,344 

$

15,343 

$

2,344 

$

3,758 

$

4,508 

$

4,542 

$

691 

$

78 

$

33,608 

Charge-offs:

-

(531)

-

-

(1,799)

(8,038)

-

(467)

(10,835)

Recoveries:

48 

-

-

-

371 

27 

-

-

446 

Provision (benefit):

(445)

(4,361)

(731)

(1,856)

7,417 

11,238 

(97)

405 

11,570 

Ending Balance, December 31, 2024

$

1,947 

$

10,451 

$

1,613 

$

1,902 

$

10,497 

$

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 

8,978 

1,613 

1,902 

5,772 

2,150 

594 

16 

22,972 

Ending Balance, December 31, 2024

$

1,947 

$

10,451 

$

1,613 

$

1,902 

$

10,497 

$

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 

2,091,194 

103,206 

130,003 

231,076 

87,328 

66,326 

2,235 

2,950,385 

Total Gross Loans:

$

239,870 

$

2,155,929 

$

103,206 

$

130,589 

$

242,239 

$

92,947 

$

66,769 

$

2,235 

$

3,033,784 

(1) Excludes Cannabis related loans.

(2) Includes Commercial and multi-family, Construction, and Commercial business loans to borrowers involved in the cannabis industry.

(3) Excludes Business express loans.

(4) Includes Home equity lines of credit.
Allowance for Credit Losses on Off-Balance Sheet Exposures

Three Months Ended September 30,

2025

2024

2023

Allowance for credit losses on off-balance sheet exposures:

Beginning balance

$

687

$

759 

$

254

(Benefit) Provision for credit losses

(207)

(288)

148

Balance at September 30

$

480

$

471

$

402

Nine Months Ended September 30,

2025

2024

2023

Allowance for credit losses on off-balance sheet exposures:

Beginning Balance

$

813

$

694 

$

-

Impact of adopting ASU No. 2016-13 ("CECL") effective January 1, 2023

-

-

1,266 

Benefit for credit losses

(333)

(223)

(864)

Balance at September 30

$

480

$

471

$

402
Delinquency Status of Total Loans The following table sets forth the delinquency status of total loans receivable as of September 30, 2025:

Loans Receivable

Greater Than

>90 Days

30-59 Days

60-90 Days

90 Days

Total Past

Total Loans

Past Due

Past Due

Past Due

Past Due

Due

Current

Receivable

and Accruing

(In Thousands)

Residential one-to-four family

$

4,779

$

-

$

302

$

5,081

$

222,059

$

227,140

$

-

Commercial and multi-family (1)

28,596

19,044

62,580

110,220

1,969,868

2,080,088

-

Cannabis related (2)

-

-

-

-

69,102

69,102

-

Construction (1)

14,996

13,996

2,310

31,302

74,678

105,980

-

Commercial business (1) (3)

3,633

1,238

16,164

21,035

171,727

192,762

-

Business express

2,344

599

1,115

4,058

74,195

78,253

244

Home equity (4)

1,831

-

479

2,310

71,256

73,566

36

Consumer

-

-

-

-

2,042

2,042

-

Total

$

56,179

$

34,877

$

82,950

$

174,006

$

2,654,927

$

2,828,933

$

280

(1) Excludes Cannabis related loans.

(2) Includes Commercial and multi-family, Construction, and Commercial business loans to borrowers involved in the cannabis industry.

(3) Excludes Business express loans.

(4) Includes Home equity lines of credit.

The following table sets forth the delinquency status of total loans receivable at December 31, 2024:

Loans Receivable

Greater Than

>90 Days

30-59 Days

60-90 Days

90 Days

Total Past

Total Loans

Past Due

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 (1)

8,279 

2,673 

30,903 

41,855 

2,114,074 

2,155,929 

6,049 

Cannabis related (2)

-

-

-

-

103,206 

103,206 

Construction (1)

-

1,829 

586 

2,415 

128,174 

130,589 

-

Commercial business (1) (3)

9,125 

580 

3,795 

13,500 

228,739 

242,239 

-

Business express

6,714 

3,452 

3,141 

13,307 

79,640 

92,947 

1,677 

Home equity (4)

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) Excludes Cannabis related loans.

(2) Includes Commercial and multi-family, Construction, and Commercial business loans to borrowers involved in the cannabis industry.

(3) Excludes Business express loans.

(4) Includes Home equity lines of credit.


‎

Amortized Cost Basis Of Loans Modified

For the Three Months Ended September 30, 2025

(In Thousands)

Number

Payment Delay

Term Extension

Rate Reduction & Term Extension

Total Principal

% of Total Class of Financing Receivable

Residential

1 

$

168 

$

-

$

-

$

168 

0.07 

%

Commercial business

2 

-

-

674 

674 

0.35 

Business express

10 

-

2,096 

-

2,096 

2.68 

Total loans

13 

$

168 

$

2,096 

$

674 

$

2,938 

For the Three Months Ended September 30, 2024

(In Thousands)

Number

Payment Delay

Term Extension

Total Principal

% of Total Class of Financing Receivable

Business express

114 

$

-

$

25,688 

$

25,688 

25.96 

%

Total loans

114 

$

-

$

25,688 

$

25,688 

For the Nine Months Ended September 30, 2025

(In Thousands)

Number

Payment Delay

Term Extension

Rate Reduction & Term Extension

Total Principal

% of Total Class of Financing Receivable

Residential

1 

$

168 

$

-

$

-

$

168 

0.07 

%

Commercial & multi-family

1 

-

25,643 

-

25,643 

1.23 

Commercial business

7 

-

985 

1,021 

2,006 

1.04 

Business express

96 

-

21,064 

-

21,064 

26.92 

Total loans

105 

$

168 

$

47,692 

$

1,021 

$

48,881 

For the Nine Months Ended September 30, 2024

(In Thousands)

Number

Payment Delay

Term Extension

Total Principal

% of Total Class of Financing Receivable

Residential one-to-four family

1 

$

174 

$

-

$

174 

0.07 

%

Business express

194 

-

43,027 

43,027 

43.48 

Total loans

195 

$

174 

$

43,027 

$

43,201 

1.38 
Loans Modifications

For the Nine Months Ended September 30, 2025

(In Thousands)

Current

30-59 Days Past Due

60-90 Days Past Due

Non-accrual

Total

Residential

$

-

$

-

$

-

$

168 

$

168 

Commercial & multi-family

25,643 

-

-

-

25,643

Commercial business

1,086 

-

-

920

2,006

Business express

19,924 

491 

-

649

21,064

Total

$

46,653 

$

491 

$

-

$

1,737

$

48,881

For the Nine Months Ended September 30, 2024

(In Thousands)

Current

30-59 Days Past Due

60-90 Days Past Due

Non-accrual

Total

Residential one-to-four family

$

174 

$

-

$

-

$

-

$

174 

Business express

42,581 

249 

-

197 

43,027 

Total

$

42,755 

$

249 

$

-

$

197 

$

43,201 
Non-Accruing Loans

As of September 30, 2025

(in Thousands)

Non-accrual loans with an Allowance for Credit Losses

Non-accrual loans without an Allowance for Credit Losses

Total Non-accrual loans

Amortized Cost of Loans Past due 90 days and Still Accruing

Residential one-to-four family

$

-

$

1,410

$

1,410

$

-

Commercial and multi-family (1)

5,993

64,553

70,546

-

Cannabis related (2)

-

-

-

-

Construction (1)

262

2,048

2,310

-

Commercial business (1) (3)

8,675

8,767

17,442

-

Business express loans

1,335

-

1,335

244

Home equity (4)

-

474

474

36

Consumer

-

-

-

-

Total

$

16,265

$

77,252

$

93,517

$

280

(1) Excludes Cannabis related loans.

(2) Includes Commercial and multi-family, Construction, and Commercial business loans to borrowers involved in the cannabis industry.

(3) Excludes Business express loans.

(4) Includes Home equity lines of credit.

As of December 31, 2024

(in Thousands)

Non-accrual loans with an Allowance for Credit Losses

Non-accrual loans without an Allowance for Credit Losses

Total Non-accrual 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 (1)

4,823 

28,151 

32,974 

6,049 

Cannabis related (2)

-

-

-

-

Construction (1)

-

586 

586 

-

Commercial business (1) (3)

5,208 

2,425 

7,633 

-

Business express loans

1,706 

191 

1,897 

1,677 

Home equity (4)

-

231 

231 

-

Total

$

12,271 

$

32,437 

$

44,708 

$

7,726 

(1) Excludes Cannabis related loans.

(2) Includes Commercial and multi-family, Construction, and Commercial business loans to borrowers involved in the cannabis industry.

(3) Excludes Business express loans.

(4) Includes Home equity lines of credit.
Loan Portfolio by Pass Rating

Loans by Year of Origination at September 30, 2025

2025

2024

2023

2022

2021

Prior

Revolving Loans

Revolving Loans to Term Loans

Total

Residential one-to-four family

Pass

$

6,857

$

11,942

$

15,785

$

46,097

$

35,199

$

109,488

$

-

$

-

$

225,368

Special Mention

-

-

-

-

-

650

-

-

650

Substandard

-

-

-

-

-

1,122

-

-

1,122

Total one-to-four family

$

6,857

$

11,942

$

15,785

$

46,097

$

35,199

$

111,260

$

-

$

-

$

227,140

Commercial and multi-family (1)

Pass

$

44,221

$

8,321

$

177,928

$

570,046

$

140,743

$

798,587

$

9,810

$

-

$

1,749,656

Special Mention

-

-

967

91,216

16,277

43,544

-

-

152,004

Substandard

-

-

672

57,316

39,509

80,791

140

-

178,428

Total Commercial and multi-family

$

44,221

$

8,321

$

179,567

$

718,578

$

196,529

$

922,922

$

9,950

$

-

$

2,080,088

Cannabis related (2)

Pass

$

-

$

-

$

-

$

26,105

$

2,084

$

8,023

$

8,050

$

-

$

44,262

Special Mention

-

-

19,084

-

4,845

-

911

-

24,840

Substandard

-

-

-

-

-

-

-

-

-

Total Cannabis related

$

-

$

-

$

19,084

$

26,105

$

6,929

$

8,023

$

8,961

$

-

$

69,102

Construction (1)

Pass

$

917

$

2,419

$

30,854

$

24,052

$

-

$

-

$

5,024

$

-

$

63,266

Special Mention

-

-

2,098

16,322

6,989

-

-

-

25,409

Substandard

-

-

-

1,723

14,996

586

-

-

17,305

Total Construction

$

917

$

2,419

$

32,952

$

42,097

$

21,985

$

586

$

5,024

$

-

$

105,980

Commercial business (1) (3)

Pass

$

-

$

7,496

$

2,004

$

5,085

$

747

$

25,183

$

108,442

$

-

$

148,957

Special Mention

-

-

-

-

1,458

2,383

11,870

-

15,711

Substandard

-

-

-

-

-

6,674

21,420

-

28,094

Total Commercial business

$

-

$

7,496

$

2,004

$

5,085

$

2,205

$

34,240

$

141,732

$

-

$

192,762

Business express

Pass

$

-

$

-

$

-

$

-

$

-

$

-

$

193

$

73,435

$

73,628

Special Mention

-

-

-

-

-

-

-

1,792

1,792

Substandard

-

-

-

-

-

-

649

2,184

2,833

Total Business express

$

-

$

-

$

-

$

-

$

-

$

-

$

842

$

77,411

$

78,253

Home equity (4)

Pass

$

959

$

250

$

3,386

$

1,326

$

415

$

5,269

$

56,913

$

4,211

$

72,729

Special Mention

-

-

-

-

-

46

317

-

363

Substandard

-

-

-

-

-

81

31

362

474

Total Home equity

$

959

$

250

$

3,386

$

1,326

$

415

$

5,396

$

57,261

$

4,573

$

73,566

Consumer

Pass

$

237

$

297

$

1,081

$

334

$

3

$

84

$

6

$

-

$

2,042

Special Mention

-

-

-

-

-

-

-

-

-

Substandard

-

-

-

-

-

-

-

-

-

Total Consumer

$

237

$

297

$

1,081

$

334

$

3

$

84

$

6

$

-

$

2,042

Total Loans

$

53,191

$

30,725

$

253,859

$

839,622

$

263,265

$

1,082,511

$

223,776

$

81,984

$

2,828,933

Gross charge-offs

$

-

$

-

$

-

$

12,913

$

263

$

1,087

$

8,738

$

4,721

$

27,722

(1) Excludes Cannabis related loans.

(2) Includes Commercial and multi-family, Construction, and Commercial business loans to borrowers involved in the cannabis industry.

(3) Excludes Business express loans.

(4) Includes Home equity lines of credit.


‎

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 and gross charge-offs for the year ended December 31, 2024.

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 (1)

Pass

$

9,105 

$

183,547 

$

604,868 

$

154,968 

$

158,029 

$

709,239 

$

2,610 

$

-

$

1,822,366 

Special Mention

-

-

108,076 

37,600 

9,232 

47,756 

140 

-

202,804 

Substandard

-

10,115 

33,958 

13,027 

11,782 

61,877 

-

-

130,759 

Total Commercial and multi-family

$

9,105 

$

193,662 

$

746,902 

$

205,595 

$

179,043 

$

818,872 

$

2,750 

$

-

$

2,155,929 

Cannabis related (2)

Pass

$

-

$

19,384 

$

26,626 

$

2,129 

$

8,213 

$

-

$

6,863 

$

-

$

63,215 

Special Mention

-

9,761 

24,636 

4,844 

-

-

750 

-

39,991 

Substandard

-

-

-

-

-

-

-

-

-

Total Cannabis related

$

-

$

29,145 

$

51,262 

$

6,973 

$

8,213 

$

-

$

7,613 

$

-

$

103,206 

Construction (1)

Pass

$

4 

$

34,906 

$

37,624 

$

-

$

-

$

-

$

5,824 

$

-

$

78,358 

Special Mention

-

1,521 

3,792 

42,330 

3,745 

-

-

-

51,388 

Substandard

-

257 

-

-

586 

-

-

-

843 

Total Construction

$

4 

$

36,684 

$

41,416 

$

42,330 

$

4,331 

$

-

$

5,824 

$

-

$

130,589 

Commercial business (1) (3)

Pass

$

-

$

2,477 

$

266 

$

475 

$

3,711 

$

28,902 

$

156,581 

$

663 

$

193,075 

Special Mention

-

8,874 

-

1,878 

194 

4,835 

19,548 

409 

35,738 

Substandard

-

-

-

-

-

5,884 

7,542 

-

13,426 

Total Commercial business

$

-

$

11,351 

$

266 

$

2,353 

$

3,905 

$

39,621 

$

183,671 

$

1,072 

$

242,239 

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 (4)

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 

(1) Excludes Cannabis related loans.

(2) Includes Commercial and multi-family, Construction, and Commercial business loans to borrowers involved in the cannabis industry.

(3) Excludes Business express loans.

(4) Includes Home equity lines of credit.