Loans Receivable and Allowance for Loan Losses (Tables)

3 Months Ended

Mar. 31, 2017

Loans receivable at March 31, 2017 and December 31, 2016 are summarized as follows (in thousands):



	March 31, 2017			December 31, 2016
Mortgage loans:
Residential	$	1,198,009		1,211,672
Commercial	1,966,075			1,978,569
Multi-family	1,399,013			1,402,054
Construction	273,366			264,814
Total mortgage loans	4,836,463			4,857,109
Commercial loans	1,660,290			1,630,444
Consumer loans	502,363			516,755
Total gross loans	6,999,116			7,004,308
Purchased credit-impaired ("PCI") loans	1,280			1,272
Premiums on purchased loans	4,771			4,968
Unearned discounts	(38		)	(39	)
Net deferred fees	(7,060		)	(7,023	)
Total loans	$	6,998,069		7,003,486

Summary of Aging Loans Receivable by Portfolio Segment and Class

The following tables summarize the aging of loans receivable by portfolio segment and class of loans, excluding PCI loans (in thousands):



	March 31, 2017
	30-59 Days		60-89 Days	Non-accrual	Recorded Investment > 90 days accruing	Total Past Due	Current	Total Loans Receivable
Mortgage loans:
Residential	$	7,175	4,310	10,025	—	21,510	1,176,499	1,198,009
Commercial	2,272		945	7,408	—	10,625	1,955,450	1,966,075
Multi-family	—		—	79	—	79	1,398,934	1,399,013
Construction	—		—	2,517	—	2,517	270,849	273,366
Total mortgage loans	9,447		5,255	20,029	—	34,731	4,801,732	4,836,463
Commercial loans	709		810	17,572	—	19,091	1,641,199	1,660,290
Consumer loans	3,052		993	2,892	—	6,937	495,426	502,363
Total gross loans	$	13,208	7,058	40,493	—	60,759	6,938,357	6,999,116



	December 31, 2016
	30-59 Days		60-89 Days	Non-accrual	Recorded Investment > 90 days accruing	Total Past Due	Current	Total Loans Receivable
Mortgage loans:
Residential	$	5,891	6,563	12,021	—	24,475	1,187,197	1,211,672
Commercial	—		80	7,493	—	7,573	1,970,996	1,978,569
Multi-family	—		—	553	—	553	1,401,501	1,402,054
Construction	—		—	2,517	—	2,517	262,297	264,814
Total mortgage loans	5,891		6,643	22,584	—	35,118	4,821,991	4,857,109
Commercial loans	1,656		357	16,787	—	18,800	1,611,644	1,630,444
Consumer loans	2,561		1,199	3,030	—	6,790	509,965	516,755
Total gross loans	$	10,108	8,199	42,401	—	60,708	6,943,600	7,004,308

Summary of Loans Receivable by Portfolio Segment and Impairment Method

The following table summarizes loans receivable by portfolio segment and impairment method, excluding PCI loans (in thousands):



	March 31, 2017
	Mortgage loans		Commercial loans	Consumer loans	Total Portfolio Segments
Individually evaluated for impairment	$	30,250	20,823	2,408	53,481
Collectively evaluated for impairment	4,806,213		1,639,467	499,955	6,945,635
Total gross loans	$	4,836,463	1,660,290	502,363	6,999,116



	December 31, 2016
	Mortgage loans		Commercial loans	Consumer loans	Total Portfolio Segments
Individually evaluated for impairment	$	29,551	20,255	2,213	52,019
Collectively evaluated for impairment	4,827,558		1,610,189	514,542	6,952,289
Total gross loans	$	4,857,109	1,630,444	516,755	7,004,308

Summary of Allowance for Loan Losses by Portfolio Segment and Impairment Classification

The allowance for loan losses is summarized by portfolio segment and impairment classification as follows (in thousands):



	March 31, 2017
	Mortgage loans		Commercial loans	Consumer loans	Total
Individually evaluated for impairment	$	1,880	1,050	102	3,032
Collectively evaluated for impairment	27,438		28,736	2,949	59,123
Total gross loans	$	29,318	29,786	3,051	62,155



	December 31, 2016
	Mortgage loans		Commercial loans	Consumer loans	Total
Individually evaluated for impairment	$	1,986	268	80	2,334
Collectively evaluated for impairment	27,640		28,875	3,034	59,549
Total gross loans	$	29,626	29,143	3,114	61,883

Schedule of Troubled Debt Restructuring

The following tables present the number of loans modified as TDRs during the three months ended March 31, 2017 and 2016, along with their balances immediately prior to the modification date and post-modification as of March 31, 2017 and 2016. There were no loans modified as TDRs during the three months ended March 31, 2016.



	For the three months ended
	March 31, 2017					March 31, 2016
Troubled Debt Restructurings	Number of Loans	Pre-Modification Outstanding Recorded Investment		Post-Modification Outstanding Recorded Investment		Number of Loans	Pre-Modification Outstanding Recorded Investment		Post-Modification Outstanding Recorded Investment
	($ in thousands)
Mortgage loans:
Residential	3	$	1,002	$	988	—	$	—	$	—
Total mortgage loans	3	1,002		988		—	—		—
Commercial loans	1	$	292	$	284	—	$	—	$	—
Consumer loans	2	240		234		—	—		—
Total restructured loans	6	$	1,534	$	1,506	—	$	—	$	—

Schedule Of Troubled Debt Restructurings Subsequently Defaulted

The following table presents loans modified as TDRs within the previous 12 months from March 31, 2017 and 2016, and for which there was a payment default (90 days or more past due) at the quarter ended March 31, 2017 and 2016. TDRs that subsequently default are considered collateral dependent impaired loans and are evaluated for impairment based on the estimated fair value of the underlying collateral less expected selling costs.



	March 31, 2017			March 31, 2016
Troubled Debt Restructurings Subsequently Defaulted	Number of Loans	Outstanding Recorded Investment		Number of Loans	Outstanding Recorded Investment
	($ in thousands)
Mortgage loans:
Construction	—	$	—	1	$	2,517
Total mortgage loans	—	—		1	2,517
Commercial loans	1	284		4	$	6,809
Total restructured loans	1	$	284	5	$	9,326

Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period

The following table summarizes the changes in the accretable yield for PCI loans during the three months ended March 31, 2017 and 2016 (in thousands):



	Three months ended March 31,
	2017			2016
Beginning balance	$	200		$	676
Accretion	(49		)	(421		)
Reclassification from non-accretable discount	21			248
Ending balance	$	172		$	503

Schedule of Allowance for Loan Losses by Portfolio Segment

The activity in the allowance for loan losses by portfolio segment for the three months ended March 31, 2017 and 2016 was as follows (in thousands):



Three months ended March 31,	Mortgage loans			Commercial loans		Consumer loans		Total
2017
Balance at beginning of period	$	29,626		29,143		3,114		61,883
Provision charged to operations	(130		)	1,616		14		1,500
Recoveries of loans previously charged-off	53			458		176		687
Loans charged-off	(231		)	(1,431	)	(253	)	(1,915	)
Balance at end of period	$	29,318		29,786		3,051		62,155

2016
Balance at beginning of period	$	32,094		25,829		3,501		61,424
Provision charged to operations	(1,193		)	2,958		(265	)	1,500
Recoveries of loans previously charged-off	172			91		316		579
Loans charged-off	(224		)	(623	)	(465	)	(1,312	)
Balance at end of period	$	30,849		28,255		3,087		62,191

Summary of Impaired Loans Receivable by Class

The following table presents loans individually evaluated for impairment by class and loan category, excluding PCI loans (in thousands):



	March 31, 2017						December 31, 2016
	Unpaid Principal Balance		Recorded Investment	Related Allowance	Average Recorded Investment	Interest Income Recognized	Unpaid Principal Balance	Recorded Investment	Related Allowance	Average Recorded Investment	Interest Income Recognized
Loans with no related allowance
Mortgage loans:
Residential	$	10,700	8,229	—	8,270	113	10,691	7,881	—	8,027	484
Commercial	4,600		4,472	—	4,606	—	1,556	1,556	—	1,586	40
Construction	2,553		2,517	—	2,517	—	2,553	2,517	—	2,514	—
Total	17,853		15,218	—	15,393	113	14,800	11,954	—	12,127	524
Commercial loans	18,191		13,861	—	16,130	76	21,830	18,874	—	13,818	259
Consumer loans	1,474		959	—	971	12	1,493	981	—	1,026	59
Total impaired loans	$	37,518	30,038	—	32,494	201	38,123	31,809	—	26,971	842

Loans with an allowance recorded
Mortgage loans:
Residential	$	15,021	13,950	1,728	14,008	130	14,169	13,520	1,716	13,705	519
Commercial	1,082		1,082	152	1,085	13	4,138	4,077	270	4,111	55
Construction	—		—	—	—	—	—	—	—	—	—
Total	16,103		15,032	1,880	15,093	143	18,307	17,597	1,986	17,816	574
Commercial loans	7,032		6,962	1,050	7,002	28	1,381	1,381	268	5,956	4
Consumer loans	1,460		1,449	102	1,459	19	1,242	1,232	80	1,259	66
Total impaired loans	$	24,595	23,443	3,032	23,554	190	20,930	20,210	2,334	25,031	644

Total impaired loans
Mortgage loans:
Residential	$	25,721	22,179	1,728	22,278	243	24,860	21,401	1,716	21,732	1,003
Commercial	5,682		5,554	152	5,691	13	5,694	5,633	270	5,697	95
Construction	2,553		2,517	—	2,517	—	2,553	2,517	—	2,514	—
Total	33,956		30,250	1,880	30,486	256	33,107	29,551	1,986	29,943	1,098
Commercial loans	25,223		20,823	1,050	23,132	104	23,211	20,255	268	19,774	263
Consumer loans	2,934		2,408	102	2,430	31	2,735	2,213	80	2,285	125
Total impaired loans	$	62,113	53,481	3,032	56,048	391	59,053	52,019	2,334	52,002	1,486

Summary of Loans Receivable by Credit Quality Risk Rating Indicator

Loans receivable by credit quality risk rating indicator, excluding PCI loans, are as follows (in thousands):



	At March 31, 2017
	Residential		Commercial mortgage	Multi- family	Construction	Total mortgages	Commercial	Consumer	Total loans
Special mention	$	4,310	24,492	557	—	29,359	30,538	993	60,890
Substandard	10,025		25,276	604	2,517	38,422	40,612	2,892	81,926
Doubtful	—		—	—	—	—	—	—	—
Loss	—		—	—	—	—	—	—	—
Total classified and criticized	14,335		49,768	1,161	2,517	67,781	71,150	3,885	142,816
Pass/Watch	1,183,674		1,916,307	1,397,852	270,849	4,768,682	1,589,140	498,478	6,856,300
Total	$	1,198,009	1,966,075	1,399,013	273,366	4,836,463	1,660,290	502,363	6,999,116

	At December 31, 2016
	Residential		Commercial mortgage	Multi- family	Construction	Total mortgages	Commercial	Consumer	Total loans
Special mention	$	6,563	25,329	563	—	32,455	14,840	1,242	48,537
Substandard	12,021		23,011	553	2,517	38,102	47,255	2,940	88,297
Doubtful	—		—	—	—	—	—	—	—
Loss	—		—	—	—	—	—	—	—
Total classified and criticized	18,584		48,340	1,116	2,517	70,557	62,095	4,182	136,834
Pass/Watch	1,193,088		1,930,229	1,400,938	262,297	4,786,552	1,568,349	512,573	6,867,474
Total	$	1,211,672	1,978,569	1,402,054	264,814	4,857,109	1,630,444	516,755	7,004,308