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Loans Receivable (Tables)
 3 Months Ended
Mar. 31, 2023
Receivables [Abstract]  
Schedule of Accounts, Notes, Loans and Financing Receivable
Loans receivable are summarized as follows at the dates indicated: 
 March 31, 2023December 31, 2022
 (In thousands)
One-to-four family residential:   
Permanent owner occupied$242,477 $232,869 
Permanent non-owner occupied240,183 241,311 
482,660 474,180 
 
Multifamily143,332 126,866 
 
Commercial real estate408,905 407,904 
 
Construction/land: 
One-to-four family residential53,948 52,492 
Multifamily (131)15,393 
Land9,786 9,759 
 63,603 77,644 
Business31,659 31,363 
Consumer70,619 64,353 
Total loans receivable, gross1,200,778 1,182,310 
Less: 
ACL16,028 15,227 
Total loans receivable, net$1,184,750 $1,167,083 
Financing Receivables, Summary of Loans by Type and Risk Category As of March 31, 2023, and December 31, 2022, the Company had no loans rated as doubtful or loss. The following tables represent a summary of loans at March 31, 2023, and December 31, 2022 by type and risk category:
 March 31, 2023
Term Loans by Year of Origination
 20232022202120202019PriorTotal Loans
 (In thousands)
One-to-four family residential     
Pass$18,166 $155,300 $102,559 $67,545 $34,995 $102,459 $481,024 
Watch— — — — — 620 620 
Special mention— — — — — 1,016 1,016 
Substandard— — — — — — — 
Total one-to-four family residential18,166 155,300 102,559 67,545 34,995 104,095 482,660 
Multifamily
Pass1,097 7,579 23,088 43,936 29,609 34,129 139,438 
Watch— — — — — 2,274 2,274 
Special mention— — — — — — — 
Substandard— — — — — 1,620 1,620 
Total multifamily1,097 7,579 23,088 43,936 29,609 38,023 143,332 
Commercial
Pass12,083 35,346 82,859 70,849 22,362 116,683 340,182 
Watch— — 4,185 8,783 — 5,949 18,917 
Special mention— — — — — 4,651 4,651 
Substandard— — — 527 1,295 43,333 45,155 
Total commercial real estate12,083 35,346 87,044 80,159 23,657 170,616 408,905 
Construction/land
Pass(131)25,583 34,813 2,931 407 — 63,603 
Watch— — — — — — — 
Special mention— — — — — — — 
Substandard— — — — — — — 
Total construction/land(131)25,583 34,813 2,931 407 — 63,603 
March 31, 2023
Term Loans by Year of Origination
20232022202120202019Prior
Total Loans(1)
(In thousands)
Business
Pass71 4,918 495 1,672 1,724 22,779 31,659 
Watch— — — — — — — 
Special mention— — — — — — — 
Substandard— — — — — — — 
Total business71 4,918 495 1,672 1,724 22,779 31,659 
Consumer
Pass10,942 30,776 12,528 6,869 5,781 3,448 70,344 
Watch— — — — 26 — 26 
Special mention— — — — 48 — 48 
Substandard— — 201 — — — 201 
Total consumer10,942 30,776 12,729 6,869 5,855 3,448 70,619 
Total loans receivable, gross
Pass$42,228 $259,502 $256,342 $193,802 $94,878 $279,498 $1,126,250 
Watch— — 4,185 8,783 26 8,843 21,837 
Special mention— — — — 48 5,667 5,715 
Substandard— — 201 527 1,295 44,953 46,976 
$42,228 $259,502 $260,728 $203,112 $96,247 $338,961 $1,200,778 



 December 31, 2022
 One-to-Four
Family
Residential		MultifamilyCommercial
Real Estate		Construction/
Land		BusinessConsumerTotal
 (In thousands)
Risk Rating:       
   Pass, grade 1-4$473,700 $122,972 $342,827 $78,120 $31,371 $61,632 $1,110,622 
Pass, grade 5 (watch)1,113 2,291 14,845 — — 27 18,276 
   Special mention1,023 — 4,668 — — 203 5,894 
   Substandard— 1,632 45,542 — — 193 47,367 
Total loans$475,836 $126,895 $407,882 $78,120 $31,371 $62,055 $1,182,159 
Schedule of Allowance for Loan and Lease Losses, Roll Forward
The following tables detail activity in the allowance for credit losses on loans by loan categories at or for the three months ended March 31, 2023 and in the allowance for loan and lease losses (“ALLL”) under the incurred loss methodology for the three months ended March 31, 2022:
 At or For the Three Months Ended March 31, 2023
 One-to-Four
Family
Residential		MultifamilyCommercial Real EstateConstruction/
Land		BusinessConsumerTotal
(In thousands)
ACL:
Beginning balance$4,043 $1,210 $5,397 $1,717 $948 $1,912 $15,227 
Adjustment for adoption of Topic 3261,520 83 (970)408 (510)(31)$500 
   Recoveries1 — — — — — 1 
Provision (recapture)47 314 69 (332)(25)227 300 
Ending balance$5,611 $1,607 $4,496 $1,793 $413 $2,108 $16,028 
 At or For the Three Months Ended March 31, 2022
 One-to-Four
Family
Residential		MultifamilyCommercial Real EstateConstruction/
Land		BusinessConsumerTotal
(In thousands)
ALLL
Beginning balance$3,214 $1,279 $6,615 $2,064 $1,112 $1,373 $15,657 
   Recoveries2 — — — — — 2 
   Provision (recapture) 259 176 (300)(422)(331)118 (500)
Ending balance$3,475 $1,455 $6,315 $1,642 $781 $1,491 $15,159 
ALLL by category:
General allowance$3,457 $1,455 $6,315 $1,642 $781 $1,491 $15,141 
Specific allowance18 — — — — — 18 
Loans: 
Total loans$412,231 $152,855 $416,988 $74,697 $30,546 $49,431 $1,136,748 
Loans collectively evaluated for impairment410,136 151,195 376,815 74,697 30,546 49,431 1,092,820 
Loans individually evaluated for impairment2,095 1,660 40,173 — — — 43,928 
Financing Receivables, Aging of Loans The following tables represent a summary of the aging of loans by type at the dates indicated:
 Loans Past Due as of March 31, 2023  
 30-59 Days60-89 Days90 Days and
Greater		Total Past
Due		Current
Total (1)
 (In thousands)
Real estate:      
One-to-four family residential:    
Owner occupied$— $— $— $— $242,477 $242,477 
Non-owner occupied— — — 240,183 240,183 
Multifamily— — — — 143,332 143,332 
Commercial real estate— — — — 408,905 408,905 
Construction/land— — — 63,603 63,603 
Total real estate— — — — 1,098,500 1,098,500 
Business— — — — 31,659 31,659 
Consumer29 — 201 230 70,389 70,619 
Total loans$29 $— $201 $230 $1,200,548 $1,200,778 
 ________________ 

(1) There were no loans 90 days and greater past due and still accruing interest at March 31, 2023.
 Loans Past Due as of December 31, 2022  
 30-59 Days60-89 Days90 Days and
Greater		Total Past
Due		Current
Total (1)
 (In thousands)
Real estate:      
One-to-four family residential:      
Owner occupied$— $— $— $— $233,785 $233,785 
Non-owner occupied27 — — 27 242,024 242,051 
Multifamily— — — — 126,895 126,895 
Commercial real estate— — — — 407,882 407,882 
Construction/land— — — — 78,120 78,120 
Total real estate27 — — 27 1,088,706 1,088,733 
Business— — — — 31,371 31,371 
Consumer— — 193 193 61,862 62,055 
Total loans$27 $— $193 $220 $1,181,939 $1,182,159 
_________________ 

(1) There were no loans 90 days and greater past due and still accruing interest at December 31, 2022.
Financing Receivables, Summary of Loans by Type and Payment Activity
The following tables summarize the loan portfolio by type and payment status at the dates indicated:

 March 31, 2023
 One-to-Four
Family
Residential		MultifamilyCommercial
Real Estate		Construction/
Land		BusinessConsumerTotal
 (In thousands)
Performing (1)
$482,660 $143,332 $408,905 $63,603 $31,659 $70,418 $1,200,577 
Nonperforming— — — — 201 201 
Total loans$482,660 $143,332 $408,905 $63,603 $31,659 $70,619 $1,200,778 
_____________

(1) There were $242.5 million of owner-occupied one-to-four family residential loans and $240.2 million of non-owner occupied one-to-four family residential loans classified as performing.
 December 31, 2022
 One-to-Four
Family
Residential		MultifamilyCommercial
Real Estate		Construction/
Land		BusinessConsumerTotal
 (In thousands)
Performing (1)
$475,836 $126,895 $407,882 $78,120 $31,371 $61,862 $1,181,966 
Nonperforming— — — — — 193 193 
Total loans$475,836 $126,895 $407,882 $78,120 $31,371 $62,055 $1,182,159 
_____________

(1) There were $233.8 million of owner-occupied one-to-four family residential loans and $242.1 million of non-owner occupied one-to-four family residential loans classified as performing.
Schedule of Impaired Financing Receivables
The following table presents a summary of loans individually evaluated for impairment by loan type at December 31, 2022:

 December 31, 2022
Recorded Investment (1)
Unpaid Principal Balance (2)
Related Allowance
 (In thousands)
Loans with no related allowance:   
  One-to-four family residential:   
      Owner occupied$174 $175 $— 
      Non-owner occupied188 188 — 
  Multifamily1,632 1,632 — 
   Commercial real estate45,542 45,542 — 
Total47,536 47,537 — 
Loans with an allowance:
  One-to-four family residential:
      Owner occupied486 533 12 
      Non-owner occupied512 512 1 
Total998 1,045 13 
Total impaired loans:
  One-to-four family residential:
      Owner occupied660 708 12 
      Non-owner occupied700 700 1 
   Multifamily1,632 1,632 — 
   Commercial real estate45,542 45,542 — 
Total$48,534 $48,582 $13 
_________________ 

(1) Represents the loan balance less charge-offs.
(2) Contractual loan principal balance.
Schedule of Impaired Financing Receivables, Average Recorded Investment and Interest Income
The following table presents the average recorded investment in loans individually evaluated for impairment and the interest income recognized for the three months ended March 31, 2022:
Three Months Ended March 31, 2022
Average Recorded InvestmentInterest Income Recognized
(In thousands)
Loans with no related allowance:
   One-to-four family residential:
      Owner occupied$178 $3 
      Non-owner occupied912 15 
Multifamily830 17 
Commercial real estate37,102 410 
Total39,022 445 
Loans with an allowance:
   One-to-four family residential:
      Owner occupied493 7 
      Non-owner occupied519 9 
Total1,012 16 
Total impaired loans:
   One-to-four family residential:
      Owner occupied671 10 
      Non-owner occupied1,431 24 
Multifamily830 17 
Commercial real estate37,102 410 
Total$40,034 $461 
Financing Receivable, Modified
The following table presents the amortized cost basis of loans on nonaccrual status and loans 90 days or more past due and still accruing as of March 31, 2023:
March 31, 2023
Nonaccrual with No ACLNonaccrual with ACLTotal Nonaccrual90 Days or More Past Due and Still Accruing
(In thousands)
Consumer Loans$201 $— $201 $— 
Total $201 $— $201 $— 


The following table presents the amortized cost basis of collateral dependent loans by class as of March 31, 2023:
March 31, 2023
Real EstateTotal
(In thousands)
Multifamily$1,620 $1,620 
Commercial Real Estate$45,155 $45,155 
Total $46,775 $46,775