LOANS (Tables)

6 Months Ended

Jun. 30, 2016

Receivables [Abstract]

Schedule of composition of loans categorized by the type of loan

Loans outstanding, excluding those held for sale, by general ledger classification, as of June 30, 2016 and December 31, 2015, consisted of the following:

			% of					% of
	June 30,		Totals			December 31,		Total
(In thousands)	2016		Loans			2015		Loans
Residential mortgage	$	479,839		15.24	%	$	470,869		16.16	%
Multifamily mortgage		1,501,915		47.70			1,416,775		48.63
Commercial mortgage		459,744		14.60			413,118		14.18
Commercial loans		576,169		18.30			512,886		17.60
Construction loans		—		—			1,401		0.05
Home equity lines of credit		63,188		2.01			52,649		1.81
Consumer loans, including fixed
rate home equity loans		67,614		2.14			45,044		1.55
Other loans		430		0.01			500		0.02
Total loans	$	3,148,899		100.00	%	$	2,913,242		100.00	%

In determining an appropriate amount for the allowance, the Bank segments and evaluates the loan portfolio based on federal call report codes. The following portfolio classes have been identified as of June 30, 2016 and December 31, 2015:

			% of					% of
	June 31,		Totals			December 31,		Total
(In thousands)	2016		Loans			2015		Loans
Primary residential mortgage	$	510,062		16.21	%	$	483,085		16.59	%
Home equity lines of credit		63,188		2.01			52,804		1.81
Junior lien loan on residence		10,476		0.33			11,503		0.39
Multifamily property		1,501,915		47.72			1,416,775		48.66
Owner-occupied commercial real estate		166,124		5.28			176,276		6.05
Investment commercial real estate		642,530		20.41			568,849		19.54
Commercial and industrial		179,892		5.72			154,295		5.30
Secured by farmland/agricultural
production		174		0.01			179		0.01
Commercial construction loans		99		—			151		0.01
Consumer and other loans		72,844		2.31			47,635		1.64
Total loans	$	3,147,304		100.00	%	$	2,911,552		100.00	%
Net deferred costs		1,595					1,690
Total loans including net deferred costs	$	3,148,899				$	2,913,242

Schedule of loan balances by portfolio segment, based on impairment method, and the corresponding balances in the allowance for loan losses

The following tables present the loan balances by portfolio class, based on impairment method, and the corresponding balances in the allowance for loan losses (ALLL) as of June 30, 2016 and December 31, 2015:

	June 30, 2016
	Total		Ending ALLL		Total		Ending ALLL
	Loans		Attributable		Loans		Attributable
	Individually		To Loans		Collectively		To Loans
	Evaluated		Individually		Evaluated		Collectively				Total
	For		Evaluated for		For		Evaluated for		Total		Ending
(In thousands)	Impairment		Impairment		Impairment		Impairment		Loans		ALL
Primary residential
mortgage	$	13,374	$	228	$	496,688	$	2,555	$	510,062	$	2,783
Home equity lines
of credit		150		—		63,038		223		63,188		223
Junior lien loan
on residence		166		—		10,310		19		10,476		19
Multifamily
property		—		—		1,501,915		11,639		1,501,915		11,639
Owner-occupied
commercial
real estate		1,241		—		164,883		1,733		166,124		1,733
Investment
commercial
real estate		11,488		219		631,042		9,402		642,530		9,621
Commercial and
industrial		224		133		179,668		2,818		179,892		2,951
Secured by
farmland and
agricultural
production		—		—		174		2		174		2
Commercial
construction		—		—		99		1		99		1
Consumer and
Other		—		—		72,844		247		72,844		247
Total ALLL	$	26,643	$	580	$	3,120,661	$	28,639	$	3,147,304	$	29,219

	December 31, 2015
	Total		Ending ALLL		Total		Ending ALLL
	Loans		Attributable		Loans		Attributable
	Individually		To Loans		Collectively		To Loans
	Evaluated		Individually		Evaluated		Collectively				Total
	For		Evaluated for		For		Evaluated for		Total		Ending
(In thousands)	Impairment		Impairment		Impairment		Impairment		Loans		ALLL
Primary residential
mortgage	$	9,752	$	291	$	473,333	$	2,006	$	483,085	$	2,297
Home equity lines
of credit		254		—		52,550		86		52,804		86
Junior lien loan
on residence		176		—		11,327		66		11,503		66
Multifamily
Property		—		—		1,416,775		11,813		1,416,775		11,813
Owner-occupied
Commercial
real estate		1,272		—		175,004		1,679		176,276		1,679
Investment
commercial
real estate		11,482		61		557,367		7,529		568,849		7,590
Commercial and
Industrial		171		138		154,124		2,071		154,295		2,209
Secured by
farmland and
agricultural production
production		—		—		179		2		179		2
Commercial
construction		—		—		151		2		151		2
Consumer and
Other		—		—		47,635		112		47,635		112
Total ALLL	$	23,107	$	490	$	2,888,445	$	25,366	$	2,911,552	$	25,856

The activity in the allowance for loan losses for the three months ended June 30, 2016 is summarized below:

	April 1,										June 30,
	2016										2016
	Beginning							Provision			Ending
(In thousands)	ALLL		Charge-offs			Recoveries		(Credit)			ALLL
Primary residential mortgage	$	2,503	$	(285	)	$	7	$	558		$	2,783
Home equity lines of credit		133		(91	)		6		175			223
Junior lien loan on residence		13		—			53		(47	)		19
Multifamily property		11,631		—			—		8			11,639
Owner-occupied commercial real estate		1,683		—			—		50			1,733
Investment commercial real estate		8,527		—			4		1,090			9,621
Commercial and industrial		2,691		—			8		252			2,951
Secured by farmland and agricultural production		2		—			—		—			2
Commercial construction		2		—			—		(1	)		1
Consumer and other loans		136		(4	)		—		115			247
Total ALLL	$	27,321	$	(380	)	$	78	$	2,200		$	29,219

The activity in the allowance for loan losses for the six months ended June 30, 2016 is summarized below:

	January 1,										June 30,
	2016										2016
	Beginning							Provision			Ending
(In thousands)	ALLL		Charge-offs			Recoveries		(Credit)			ALLL
Primary residential mortgage	$	2,297	$	(298	)	$	21	$	763		$	2,783
Home equity lines of credit		86		(91	)		8		220			223
Junior lien loan on residence		66		—			70		(117	)		19
Multifamily property		11,813		—			—		(174	)		11,639
Owner-occupied commercial real estate		1,679		—			—		54			1,733
Investment commercial real estate		7,590		(258	)		6		2,283			9,621
Commercial and industrial		2,209		(3	)		12		733			2,951
Secured by farmland and agricultural production		2		—			—		—			2
Commercial construction		2		—			—		(1	)		1
Consumer and other loans		112		(5	)		1		139			247
Total ALLL	$	25,856	$	(655	)	$	118	$	3,900		$	29,219

The activity in the allowance for loan losses for the three months ended June 30, 2015 is summarized below:

	April 1,										June 30,
	2015										2015
	Beginning							Provision			Ending
(In thousands)	ALLL		Charge-offs			Recoveries		(Credit)			ALLL
Primary residential mortgage	$	2,314	$	(68	)	$	4	$	159		$	2,409
Home equity lines of credit		97		(10	)		1		25			113
Junior lien loan on residence		71		—			10		(8	)		73
Multifamily property		8,738		—			—		(115	)		8,623
Owner-occupied commercial real estate		2,347		—			—		(61	)		2,286
Investment commercial real estate		6,135		—			4		1,640			7,779
Commercial and industrial		1,011		(7	)		21		564			1,589
Secured by farmland and agricultural production		3		—			—		(1	)		2
Commercial construction		23		—			—		(21	)		2
Consumer and other loans		77		(4	)		2		18			93
Total ALLL	$	20,816	$	(89	)	$	42	$	2,200		$	22,969

The activity in the allowance for loan losses for the six months ended June 30, 2015 is summarized below:

	January 1,										June 30,
	2015										2015
	Beginning							Provision			Ending
(In thousands)	ALLL		Charge-offs			Recoveries		(Credit)			ALLL
Primary residential mortgage	$	2,923	$	(111	)	$	70	$	(473	)	$	2,409
Home equity lines of credit		156		(110	)		1		66			113
Junior lien loan on residence		109		—			38		(74	)		73
Multifamily property		8,983		—			—		(360	)		8,623
Owner-occupied commercial real estate		1,547		—			11		728			2,286
Investment commercial real estate		4,751		—			10		3,018			7,779
Commercial and industrial		880		(7	)		46		670			1,589
Secured by farmland and agricultural production		4		—			—		(2	)		2
Commercial construction		31		—			—		(29	)		2
Consumer and other loans		96		(21	)		12		6			93
Total ALLL	$	19,480	$	(249	)	$	188	$	3,550		$	22,969

Schedule of loans individually evaluated for impairment

	June 30, 2016
	Unpaid						Average
	Principal		Recorded		Specific		Impaired
(In thousands)	Balance		Investment		Reserves		Loans
With no related allowance recorded:
Primary residential mortgage	$	13,337	$	11,512	$	—	$	7,577
Owner-occupied commercial real estate		1,451		1,241		—		1,266
Investment commercial real estate		10,438		9,847		—		10,210
Commercial and industrial		231		91		—		6
Home equity lines of credit		439		150		—		217
Junior lien loan on residence		569		166		—		316
Total loans with no related allowance	$	26,465	$	23,007	$	—	$	19,592
With related allowance recorded:
Primary residential mortgage	$	1,899	$	1,862	$	228	$	1,875
Investment commercial real estate		1,657		1,641		219		1,242
Commercial and industrial		179		133		133		137
Total loans with related allowance	$	3,735	$	3,636	$	580	$	3,254
Total loans individually evaluated for
impairment	$	30,200	$	26,643	$	580	$	22,846

	December 31, 2015
	Unpaid						Average
	Principal		Recorded		Specific		Impaired
(In thousands)	Balance		Investment		Reserves		Loans
With no related allowance recorded:
Primary residential mortgage	$	8,998	$	7,782	$	—	$	5,683
Owner-occupied commercial real estate		1,460		1,272		—		1,379
Investment commercial real estate		11,099		10,233		—		10,330
Commercial and industrial		63		33		—		112
Home equity lines of credit		258		254		—		229
Junior lien loan on residence		219		176		—		166
Consumer and other		—		—		—		1
Total loans with no related allowance	$	22,097	$	19,750	$	—	$	17,900
With related allowance recorded:
Primary residential mortgage	$	2,090	$	1,970	$	291	$	1,894
Investment commercial real estate		1,249		1,249		61		1,266
Commercial and industrial		179		138		138		144
Total loans with related allowance	$	3,518	$	3,357	$	490	$	3,304
Total loans individually evaluated for
impairment	$	25,615	$	23,107	$	490	$	21,204

Schedule of recorded investment in nonaccrual and loans past due over 90 days still on accrual

	June 30, 2016
			Loans Past Due
			Over 90 Days
			And Still
(In thousands)	Nonaccrual		Accruing Interest
Primary residential mortgage	$	6,030	$	—
Home equity lines of credit		126		—
Junior lien loan on residence		110		—
Owner-occupied commercial real estate		1,241		—
Investment commercial real estate		408		—
Commercial and industrial		134		—
Total	$	8,049	$	—

	December 31, 2015
			Loans Past Due
			Over 90 Days
			And Still
(In thousands)	Nonaccrual		Accruing Interest
Primary residential mortgage	$	4,549	$	—
Home equity lines of credit		229		—
Junior lien loan on residence		118		—
Owner-occupied commercial real estate		1,272		—
Investment commercial real estate		408		—
Commercial and industrial		171		—
Consumer and other		—		—
Total	$	6,747	$	—

Schedule of aging of past due loans

	June 30, 2016
	30-59		60-89		Greater Than
	Days		Days		90 Days		Total
(In thousands)	Past Due		Past Due		Past Due		Past Due
Primary residential mortgage	$	4,352	$	—	$	—	$	4,352
Home equity lines of credit		—		157		—		157
Investment commercial real estate		1,954		—		—		1,954
Commercial and industrial		—		91		—		91
Consumer and other		22		—		—		22
Total	$	6,328	$	248	$	—	$	6,576

	December 31, 2015
	30-59		60-89		Greater Than
	Days		Days		90 Days		Total
(In thousands)	Past Due		Past Due		Past Due		Past Due
Primary residential mortgage	$	1,214	$	157	$	—	$	1,371
Investment commercial real estate		772		—		—		772
Total	$	1,986	$	157	$	—	$	2,143

Schedule of the risk category of loans by class of loans

As of June 30, 2016, and based on the most recent analysis performed, the risk category of loans by class of loans is as follows:

			Special
(In thousands)	Pass		Mention		Substandard		Doubtful
Primary residential mortgage	$	495,876	$	673	$	13,513	$	—
Home equity lines of credit		63,038		—		150		—
Junior lien loan on residence		10,310		—		166		—
Multifamily property		1,499,558		1,950		407		—
Owner-occupied commercial real estate		160,427		906		4,791		—
Investment commercial real estate		606,571		4,127		31,832		—
Commercial and industrial		174,237		5,430		225		—
Farmland		174		—		—		—
Commercial construction		—		99		—		—
Consumer and other loans		72,844		—		—		—
Total	$	3,083,035	$	13,185	$	51,084	$	—

As of December 31, 2015, and based on the most recent analysis performed, the risk category of loans by class of loans is as follows:

			Special
(In thousands)	Pass		Mention		Substandard		Doubtful
Primary residential mortgage	$	471,859	$	1,332	$	9,894	$	—
Home equity lines of credit		52,550		—		254		—
Junior lien loan on residence		11,327		—		176		—
Multifamily property		1,407,856		7,718		1,201		—
Owner-occupied commercial real estate		170,420		928		4,928		—
Investment commercial real estate		536,479		6,217		26,153		—
Commercial and industrial		148,940		5,184		171		—
Farmland		179		—		—		—
Agricultural production		—		—		—		—
Commercial construction		—		151		—		—
Consumer and other loans		47,635		—		—		—
Total	$	2,847,245	$	21,530	$	42,777	$	—

Schedule of loans modified as troubled debt restructurings

The following table presents loans by class modified as TDRs during the three month period ended June 30, 2016:

			Pre-Modification		Post-Modification
			Outstanding		Outstanding
	Number of		Recorded		Recorded
(Dollars in thousands)	Contracts		Investment		Investment
Primary residential mortgage		4	$	3,424	$	3,424
Investment commercial real estate		1		79		79
Commercial and industrial		1		91		91
Total		6	$	3,594	$	3,594

The following table presents loans by class modified as TDRs during the six month period ended June 30, 2016:

			Pre-Modification		Post-Modification
			Outstanding		Outstanding
	Number of		Recorded		Recorded
(Dollars in thousands)	Contracts		Investment		Investment
Primary residential mortgage		6	$	4,556	$	4,556
Investment commercial real estate		1		79		79
Commercial and industrial		1		91		91
Total		8	$	4,726	$	4,726

The identification of the troubled debt restructurings did not have a significant impact on the allowance for loan losses.

The following table presents loans by class modified as TDRs during the three and six month periods ended June 30, 2015:

			Pre-Modification		Post-Modification
			Outstanding		Outstanding
	Number of		Recorded		Recorded
(Dollars in thousands)	Contracts		Investment		Investment
Primary residential mortgage		2	$	225	$	225
Owner-occupied real estate		1		767		767
Total		3	$	992	$	992

There were no loans that were modified as TDRs for which there was a payment default, within twelve months of modification, during the three and six months ended June 30, 2016.

The following table presents loans by class modified as troubled debt restructurings for which there was a payment default, within twelve months of modification, during the three and six month periods ended June 30, 2015

	Number of		Recorded
(Dollars in thousands)	Contracts		Investment
Primary residential mortgage		2	$	532
Total		2	$	532