Accrued Interest Receivable (Tables)

12 Months Ended

Dec. 31, 2022

Accrued Interest Receivable [Abstract]

Schedule of Accounts, Notes, Loans and Financing Receivable

Loans receivable net of loans in process (“LIP”), at December 31, 2022, and 2021 are summarized as follows: 

	December 31,
	2022		2021
	(In thousands)
One-to-four family residential:
Permanent owner occupied	$	233,785	$	185,320
Permanent non-owner occupied	242,051		199,796
	475,836		385,116
Multifamily	126,895		130,146
Commercial real estate	407,882		419,417
Construction/land: (1)
One-to-four family residential	52,836		34,677
Multifamily	15,501		37,194
Commercial	—		6,189
Land	9,783		15,395
	78,120		93,455
Business	31,371		46,590
Consumer	62,055		44,812
Total loans	1,182,159		1,119,536
Less:
Deferred loan (costs) fees, net (2)	(151)		418
ALLL	15,227		15,657
Loans receivable, net	$	1,167,083	$	1,103,461

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(1)Included in the construction/land category are “rollover” loans, which are loans that will convert upon completion of the construction period to permanent loans and be reclassified according to the underlying collateral. In addition, raw land or buildable lots, where the Company does not intend to finance the construction are included in the construction/land category. At December 31, 2022, the Company had $15.5 million of multifamily loans and $9.8 million of commercial land loans included in the construction/land loan portfolio that will be converted to permanent loans upon completion of the construction period. At December 31, 2021, total loans included in the construction/land loan portfolio to be converted to permanent loans included $37.2 million of multifamily loans, $12.9 million of commercial land loans, and $6.2 million of commercial real estate loans.

(2)Deferred loan (costs) fees, net, include $3.4 million of unamortized loan purchase premiums at December 31, 2022.

Accrued interest receivable consisted of the following at December 31, 2022 and 2021:

	December 31,
	2022		2021
	(In thousands)
Loans receivable	$	5,290	$	4,634
Investments	1,222		651
Interest-earning deposits	1		—
	$	6,513	$	5,285