XML 32 R22.htm IDEA: XBRL DOCUMENT v3.20.2
LOANS AND ALLOWANCE FOR LOAN LOSSES (Tables)
6 Months Ended
Jun. 30, 2020
LOANS AND ALLOWANCE FOR LOAN LOSSES  
Schedule of Net loans

​

​

​

​

​

​

​

​

​

    

June 30, 2020

​

December 31, 2019

Real estate

​

​

​

​

​

​

Commercial

​

$

1,875,764

​

$

1,668,236

Construction

​

​

59,378

​

​

30,827

Multifamily

​

​

393,342

​

​

375,611

One-to-four family

​

​

68,326

​

​

82,670

Total real estate loans

​

​

2,396,810

​

​

2,157,344

​

​

​

​

​

​

​

Commercial and industrial

​

​

444,265

​

​

448,619

Consumer

​

​

56,217

​

​

71,956

Total loans

​

​

2,897,292

​

​

2,677,919

Deferred fees

​

​

(5,018)

​

​

(4,970)

Loans, net of deferred fees and unamortized costs

​

​

2,892,274

​

​

2,672,949

Allowance for loan losses

​

​

(32,505)

​

​

(26,272)

Balance at the end of the period

​

$

2,859,769

​

$

2,646,677

Schedule of portfolio of loans

​

​

​

​

​

​

​

​

​

June 30, 2020

​

​

​

Balance

​

% of Total Loans

​

​

​

​

​

​

CRE (1)

 

​

  

 

  

Skilled Nursing Facilities

 

$

538,705

 

18.6%

Multi-family

​

​

393,342

​

13.6%

Retail

​

​

218,133

​

7.5%

Mixed use

​

​

209,362

​

7.2%

Office

​

​

162,528

​

5.6%

Hospitality

​

​

158,379

​

5.5%

Construction

​

​

59,378

​

2.1%

Other

​

​

546,709

​

18.9%

Total CRE

​

$

2,286,535

​

79.1%

​

​

​

​

​

​

C&I (2)

​

​

​

​

​

Healthcare

​

$

107,486

​

3.7%

Skilled Nursing Facilities

​

 

110,906

​

3.8%

Finance & Insurance

​

​

100,538

​

3.5%

Wholesale

​

​

24,578

​

0.8%

Manufacturing

​

​

17,384

​

0.6%

Transportation

​

​

13,661

​

0.5%

Retail

​

​

4,200

​

0.1%

Recreation & Restaurants

​

​

1,843

​

0.1%

Other

​

​

42,309

​

1.5%

Total C&I

​

$

422,905

​

14.6%

​

(1)

Commercial real estate, not including one-to-four family loans

(2)

Net of participations, premiums and overdraft adjustments

Schedule of changes in the allowance for loan losses by portfolio segment

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Commercial

​

Commercial

​

​

​

​

Multi

​

One-to-four

​

​

​

​

​

​

Three months ended June 30, 2020

    

Real Estate

    

& Industrial

    

Construction

    

Family

    

Family

​

Consumer

​

Total

Allowance for loan losses:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Beginning balance

​

$

15,891

​

$

8,213

​

$

549

​

$

2,518

​

$

191

​

$

506

​

$

27,868

COVID-19 allowance allocation

​

​

1,478

​

​

1,280

​

​

71

​

​

190

​

​

12

​

​

25

​

​

3,056

Adjusted beginning balance

​

​

17,369

​

​

9,493

​

​

620

​

​

2,708

​

​

203

​

​

531

​

​

30,924

Provision/(credit) for loan losses

​

​

1,321

​

​

(204)

​

​

121

​

​

31

​

​

39

​

​

458

​

​

1,766

Loans charged-off

​

​

—

​

​

(159)

​

​

—

​

​

—

​

​

—

​

​

(33)

​

​

(192)

Recoveries

​

​

—

​

​

2

​

​

—

​

​

—

​

​

—

​

​

5

​

​

7

Total ending allowance balance

​

$

18,690

​

$

9,132

​

$

741

​

$

2,739

​

$

242

​

$

961

​

$

32,505

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Commercial

​

Commercial

​

​

​

​

Multi

​

One-to-four

​

​

​

​

​

​

Three months ended June 30, 2019

    

Real Estate

    

& Industrial

    

Construction

    

Family

    

Family

​

Consumer

​

Total

Allowance for loan losses:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Beginning balance

​

$

10,885

​

$

6,177

​

$

647

​

$

2,111

​

$

308

​

$

706

​

$

20,834

Provision/(credit) for loan losses

​

​

2,121

​

​

(23)

​

​

(146)

​

​

138

​

​

(55)

​

​

(85)

​

​

1,950

Loans charged-off

​

​

—

​

​

(12)

​

​

—

​

​

—

​

​

—

​

​

(57)

​

​

(69)

Recoveries

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

Total ending allowance balance

​

$

13,006

​

$

6,142

​

$

501

​

$

2,249

​

$

253

​

$

564

​

$

22,715

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Commercial

​

Commercial

​

​

​

​

Multi

​

One-to-four

​

​

​

​

​

​

Six months ended June 30, 2020

    

Real Estate

    

& Industrial

    

Construction

    

Family

    

Family

​

Consumer

​

Total

Allowance for loan losses:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Beginning balance

​

$

15,317

​

$

7,070

​

$

411

​

$

2,453

​

$

267

​

$

754

​

$

26,272

Provision/(credit) for loan losses (1)

​

​

3,373

​

​

2,174

​

​

330

​

​

286

​

​

(25)

​

​

418

​

​

6,556

Loans charged-off

​

​

—

​

​

(172)

​

​

—

​

​

—

​

​

—

​

​

(221)

​

​

(393)

Recoveries

​

​

—

​

​

60

​

​

—

​

​

—

​

​

—

​

​

10

​

​

70

Total ending allowance balance

​

$

18,690

​

$

9,132

​

$

741

​

$

2,739

​

$

242

​

$

961

​

$

32,505

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Commercial

​

Commercial

​

​

​

​

Multi

​

One-to-four

​

​

​

​

​

​

Six months ended June 30, 2019

    

Real Estate

    

& Industrial

    

Construction

    

Family

    

Family

​

Consumer

​

Total

Allowance for loan losses:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Beginning balance

​

$

9,037

​

$

6,257

​

$

625

​

$

2,047

​

$

228

​

$

748

​

$

18,942

Provision/(credit) for loan losses

​

​

3,969

​

​

(4,099)

​

​

(124)

​

​

202

​

​

25

​

​

(54)

​

​

(81)

Loans charged-off

​

​

—

​

​

(286)

​

​

—

​

​

—

​

​

—

​

​

(130)

​

​

(416)

Recoveries

​

​

—

​

​

4,270

​

​

—

​

​

—

​

​

—

​

​

—

​

​

4,270

Total ending allowance balance

​

$

13,006

​

$

6,142

​

$

501

​

$

2,249

​

$

253

​

$

564

​

$

22,715

Schedule of allowance for loan losses and the recorded investment in loans by portfolio segment

The following tables present the balance in the ALLL and the recorded investment in loans by portfolio segment, including the impact of COVID-19, based on impairment method as of June 30, 2020 and December 31, 2019 (in thousands):

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Commercial

​

Commercial

​

​

​

​

Multi

​

One-to-four

​

​

​

​

​

​

At June 30, 2020

    

Real Estate

    

& Industrial

    

Construction

    

Family

    

Family

    

Consumer

    

Total

Allowance for loan losses:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Individually evaluated for impairment

​

$

—

​

$

1,408

​

$

—

​

$

—

​

$

58

​

$

527

​

$

1,993

Collectively evaluated for impairment

​

​

18,690

​

​

7,724

​

​

741

​

​

2,739

​

​

184

​

​

434

​

​

30,512

Total ending allowance balance

​

$

18,690

​

$

9,132

​

$

741

​

$

2,739

​

$

242

​

$

961

​

$

32,505

Loans:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Individually evaluated for impairment

​

$

363

​

$

6,482

​

$

—

​

$

—

​

$

1,016

​

$

1,926

​

$

9,787

Collectively evaluated for impairment

​

​

1,875,401

​

​

437,783

​

​

59,378

​

​

393,342

​

​

67,310

​

​

54,291

​

​

2,887,505

Total ending loan balance

​

$

1,875,764

​

$

444,265

​

$

59,378

​

$

393,342

​

$

68,326

​

$

56,217

​

$

2,897,292

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Commercial

​

Commercial

​

​

​

​

Multi

​

One-to-four

​

​

​

​

​

​

At December 31, 2019

    

Real Estate

    

& Industrial

    

Construction

    

Family

    

Family

    

Consumer

    

Total

Allowance for loan losses:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Individually evaluated for impairment

​

$

—

​

$

805

​

$

—

​

$

—

​

$

64

​

$

311

​

$

1,180

Collectively evaluated for impairment

​

​

15,317

​

​

6,265

​

​

411

​

​

2,453

​

​

203

​

​

443

​

​

25,092

Total ending allowance balance

​

$

15,317

​

$

7,070

​

$

411

​

$

2,453

​

$

267

​

$

754

​

$

26,272

Loans:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Individually evaluated for impairment

​

$

367

​

$

1,047

​

$

—

​

$

—

​

$

3,384

​

$

728

​

$

5,526

Collectively evaluated for impairment

​

​

1,667,869

​

​

447,572

​

​

30,827

​

​

375,611

​

​

79,286

​

​

71,228

​

​

2,672,393

Total ending loan balance

​

$

1,668,236

​

$

448,619

​

$

30,827

​

$

375,611

​

$

82,670

​

$

71,956

​

$

2,677,919

Schedule of loans determined to be impaired by class of loans

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Unpaid Principal

​

​

​

Allowance for Loan

​

At June 30, 2020

    

Balance

    

Recorded Investment

    

Losses Allocated

​

With an allowance recorded:

​

​

​

​

​

​

​

​

​

​

One-to-four family

​

$

621

​

$

492

​

$

58

​

Consumer

​

​

1,926

​

​

1,926

​

​

527

​

Commercial & industrial

​

​

6,482

​

​

6,482

​

​

1,408

​

Total

​

$

9,029

​

$

8,900

​

$

1,993

​

​

​

​

​

​

​

​

​

​

​

​

Without an allowance recorded:

​

​

​

​

​

​

​

​

​

​

One-to-four family

​

$

672

​

$

524

​

$

—

​

Commercial real estate

​

​

363

​

​

363

​

​

—

​

Commercial & industrial

​

​

—

​

​

—

​

​

—

​

Total

​

$

1,035

​

$

887

​

$

—

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Unpaid Principal

​

​

​

Allowance for Loan

​

At December 31, 2019

    

Balance

    

Recorded Investment

    

Losses Allocated

​

With an allowance recorded:

​

​

​

​

​

​

​

​

​

​

One-to-four family

​

$

633

​

$

503

​

$

64

​

Consumer

​

​

731

​

​

728

​

​

311

​

Commercial & industrial

​

​

1,047

​

​

1,047

​

​

805

​

Total

​

$

2,411

​

$

2,278

​

$

1,180

​

​

​

​

​

​

​

​

​

​

​

​

Without an allowance recorded:

​

​

​

​

​

​

​

​

​

​

One-to-four family

​

​

3,028

​

$

2,881

​

$

—

​

Commercial real estate

​

​

367

​

​

367

​

​

—

​

Total

​

$

3,395

​

$

3,248

​

$

—

​

Schedule of average recorded investment and interest income of loans

​

​

​

​

​

​

​

​

​

​

Average Recorded

​

Interest Income

Three months ended June 30, 2020

    

Investment

    

Recognized

With an allowance recorded:

​

​

​

​

​

​

One-to-four family

​

$

494

​

$

3

Consumer

​

​

1,147

​

​

27

Commercial & industrial

​

​

3,765

​

​

—

Total

​

$

5,406

​

$

30

​

​

​

​

​

​

​

Without an allowance recorded:

​

​

​

​

​

​

One-to-four family

​

$

528

​

$

—

Commercial real estate

​

​

363

​

​

—

Commercial & industrial

​

​

2,377

​

​

—

Total

​

$

3,268

​

$

—

​

​

​

​

​

​

​

​

​

​

Average Recorded

​

Interest Income

Three months ended June 30, 2019

    

Investment

    

Recognized

With an allowance recorded:

​

​

​

​

​

​

One-to-four family

​

$

521

​

$

7

Consumer

​

​

91

​

​

2

Total

​

$

612

​

$

9

​

​

​

​

​

​

​

Without an allowance recorded:

​

​

​

​

​

​

One-to-four family

​

$

1,732

​

$

79

Commercial real estate

​

​

377

​

​

4

Total

​

$

2,109

​

$

83

​

​

​

​

​

​

​

​

​

​

Average Recorded

​

Interest Income

Six months ended June 30, 2020

    

Investment

    

Recognized

With an allowance recorded:

​

​

​

​

​

​

One-to-four family

​

$

497

​

$

8

Consumer

​

​

1,008

​

​

31

Commercial & industrial

​

​

2,859

​

​

—

Total

​

$

4,364

​

$

39

​

​

​

​

​

​

​

Without an allowance recorded:

​

​

​

​

​

​

One-to-four family

​

$

1,312

​

$

10

Commercial real estate

​

​

364

​

​

4

Total

​

$

1,676

​

$

14

​

​

​

​

​

​

​

​

​

​

Average Recorded

​

Interest Income

Six months ended June 30, 2019

    

Investment

    

Recognized

With an allowance recorded:

​

​

​

​

​

​

One-to-four family

​

$

347

​

$

10

Consumer

​

​

90

​

​

4

Total

​

$

437

​

$

14

​

​

​

​

​

​

​

Without an allowance recorded:

​

​

​

​

​

​

One-to-four family

​

$

3,891

​

$

90

Commercial real estate

​

​

379

​

​

8

Total

​

$

4,270

​

$

98

Schedule of recorded investment in non-accrual loans, loans past due over 90 days and still accruing by class of loans

​

​

​

​

​

​

​

​

At June 30, 2020

    

Non-accrual

​

Loans Past Due Over 90 Days Still Accruing

Commercial & industrial

​

$

6,482

​

$

54

Consumer

​

​

601

​

​

1,311

Total

​

$

7,083

​

$

1,365

​

​

​

​

​

​

​

​

At December 31, 2019

​

Non-accrual

​

​

Loans Past Due Over 90 Days Still Accruing

Commercial & industrial

​

$

1,047

​

$

408

One-to-four family

​

​

2,345

​

​

—

Consumer

​

​

693

​

​

—

Total

​

$

4,085

​

$

408

Schedule of aging of the recorded investment in past due loans by class of loans

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Greater

​

​

​

​

​

​

​

​

30-59

​

60-89

​

than 90

​

Total past

​

Current

​

​

At June 30, 2020

    

Days

    

Days

    

days

    

due

    

loans

    

Total

Commercial real estate

​

$

6,400

​

$

—

​

$

—

​

$

6,400

​

$

1,869,364

​

$

1,875,764

Commercial & industrial

​

​

18

​

​

2

​

​

6,536

​

​

6,556

​

​

437,709

​

​

444,265

Construction

​

​

—

​

​

—

​

​

—

​

​

—

​

​

59,378

​

​

59,378

Multifamily

​

​

—

​

​

—

​

​

—

​

​

—

​

​

393,342

​

​

393,342

One-to-four family

​

​

—

​

​

—

​

​

—

​

​

—

​

​

68,326

​

​

68,326

Consumer

​

​

68

​

​

25

​

​

1,912

​

​

2,005

​

​

54,212

​

​

56,217

Total

​

$

6,486

​

$

27

​

$

8,448

​

$

14,961

​

$

2,882,331

​

$

2,897,292

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Greater

​

​

​

​

​

​

​

​

30-59

​

60-89

​

than 90

​

Total past

​

Current

​

​

At December 31, 2019

    

Days

    

Days

    

days

    

due

    

loans

    

Total

Commercial real estate

​

$

—

​

$

—

​

$

—

​

$

—

​

$

1,668,236

​

$

1,668,236

Commercial & industrial

​

​

346

​

​

—

​

​

1,455

​

​

1,801

​

​

446,818

​

​

448,619

Construction

​

​

—

​

​

—

​

​

—

​

​

—

​

​

30,827

​

​

30,827

Multifamily

​

​

—

​

​

—

​

​

—

​

​

—

​

​

375,611

​

​

375,611

One-to-four family

​

​

—

​

​

—

​

​

—

​

​

—

​

​

82,670

​

​

82,670

Consumer

​

​

636

​

​

14

​

​

693

​

​

1,343

​

​

70,613

​

​

71,956

Total

​

$

982

​

$

14

​

$

2,148

​

$

3,144

​

$

2,674,775

​

$

2,677,919

​

Schedule of recorded investment in TDRs by class of loans

The following tables present the recorded investment in TDRs by class of loans as of June 30, 2020 and December 31, 2019 (in thousands):

​

​

​

​

​

​

​

​

​

    

June 30, 2020

    

December 31, 2019

    

Troubled debt restructurings:

​

​

​

​

​

​

​

Real Estate:

​

​

​

​

​

​

​

Commercial real estate

​

$

363

​

$

367

​

One-to-four family

​

​

1,016

​

​

1,039

​

Consumer

​

​

14

​

​

35

​

Total troubled debt restructurings

​

$

1,393

​

$

1,441

​

Schedule of risk category of loans by class of loans

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Special

​

​

​

​

​

​

​

​

​

At June 30, 2020

    

Pass

    

Mention

    

Substandard

    

Doubtful

​

​

Total

Commercial real estate

​

$

1,875,401

​

$

363

​

$

—

​

$

—

​

$

1,875,764

Commercial & industrial

​

​

437,729

​

​

—

​

​

5,489

​

​

1,047

​

​

444,265

Construction

​

​

59,378

​

​

—

​

​

—

​

​

—

​

​

59,378

Multifamily

​

​

393,342

​

​

—

​

​

—

​

​

—

​

​

393,342

Total

​

$

2,765,850

​

$

363

​

$

5,489

​

$

1,047

​

$

2,772,749

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Special

​

​

​

​

​

​

​

​

​

At December 31, 2019

    

Pass

    

Mention

    

Substandard

    

Doubtful

​

​

Total

Commercial real estate

​

$

1,667,869

​

$

367

​

$

—

​

$

—

​

$

1,668,236

Commercial & industrial

​

​

446,612

​

​

—

​

​

960

​

​

1,047

​

​

448,619

Construction

​

​

30,827

​

​

—

​

​

—

​

​

—

​

​

30,827

Multi-family

​

​

375,611

​

​

—

​

​

—

​

​

—

​

​

375,611

Total

​

$

2,520,919

​

$

367

​

$

960

​

$

1,047

​

$

2,523,293