LOANS AND ALLOWANCE FOR CREDIT LOSSES (Tables)

6 Months Ended

Jun. 30, 2025

Loans and Leases Receivable Disclosure [Line Items]

Schedule of net loans

Loans, net of deferred costs and fees, consist of the following (in thousands):

	At		At
	June 30,		December 31,
	2025		2024
Real estate
Commercial	$	4,849,152	$	4,317,361
Construction		251,693		206,960
Multi-family		414,248		376,737
One-to four-family		88,876		90,880
Total real estate loans		5,603,969		4,991,938
Commercial and industrial		1,016,056		1,046,146
Consumer		11,269		12,961
Total loans		6,631,294		6,051,045
Deferred fees, net of origination costs		(18,505)		(16,969)
Loans, net of deferred fees and costs		6,612,789		6,034,076
Allowance for credit losses		(74,071)		(63,273)
Net loans	$	6,538,718	$	5,970,803

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

The following tables present the activity in the ACL for funded loans by segment. The portfolio segments represent the categories that the Company uses to determine its ACL (in thousands):

							Multi-		One-to four-
Three months ended June 30, 2025	CRE		C&I		Construction		family		family		Consumer		Total
Allowance for credit losses:
Beginning balance	$	44,647	$	12,433	$	2,518	$	7,259	$	602	$	344	$	67,803
Provision/(credit) for credit losses		5,808		166		(178)		412		(24)		70		6,254
Loans charged-off		—		—		—		—		—		(112)		(112)
Recoveries		—		125		—		—		—		1		126
Total ending allowance balance	$	50,455	$	12,724	$	2,340	$	7,671	$	578	$	303	$	74,071

							Multi-		One-to four-
Three months ended June 30, 2024	CRE		C&I		Construction		family		family		Consumer		Total
Allowance for credit losses:
Beginning balance	$	36,704	$	10,937	$	1,712	$	8,171	$	521	$	493	$	58,538
Provision/(credit) for credit losses		1,780		345		47		(344)		(390)		48		1,486
Loans charged-off		—		—		—		—		—		(16)		(16)
Recoveries		—		—		—		—		—		—		—
Total ending allowance balance	$	38,484	$	11,282	$	1,759	$	7,827	$	131	$	525	$	60,008

							Multi-		One-to four-
Six months ended June 30, 2025	CRE		C&I		Construction		family		family		Consumer		Total
Allowance for credit losses:
Beginning balance	$	42,070	$	10,991	$	1,962	$	7,290	$	577	$	383	$	63,273
Provision/(credit) for credit losses		8,385		1,428		378		381		1		150		10,723
Loans charged-off		—		—		—		—		—		(231)		(231)
Recoveries		—		305		—		—		—		1		306
Total ending allowance balance	$	50,455	$	12,724	$	2,340	$	7,671	$	578	$	303	$	74,071

							Multi-		One-to four-
Six months ended June 30, 2024	CRE		C&I		Construction		family		family		Consumer		Total
Allowance for credit losses:
Beginning balance	$	35,635	$	11,207	$	1,765	$	8,215	$	663	$	480	$	57,965
Provision/(credit) for credit losses		2,848		75		(6)		(388)		(532)		62		2,060
Loans charged-off		—		—		—		—		—		(18)		(18)
Recoveries		1		—		—		—		—		1		2
Total ending allowance balance	$	38,484	$	11,282	$	1,759	$	7,827	$	131	$	525	$	60,008

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

The following tables present the recorded investment in non-accrual loans and loans past due 90 days and greater and still accruing, by class of loans (in thousands):

					Loans Past Due
			Non-accrual		90 Days and
			Without an		Greater and
At June 30, 2025	Non-accrual		ACL		Still Accruing
Commercial real estate	$	25,926	$	1,926	$	—
Commercial & industrial		8,989		6,989		—
Multi-family		2,554		2,554		—
One-to-four family		2,469		2,469		—
Consumer		—		—		—
Total	$	39,938	$	13,938	$	—

					Loans Past Due
			Non-accrual		90 Days and
			Without an		Greater and
At December 31, 2024	Non-accrual		ACL		Still Accruing
Commercial real estate	$	25,087	$	25,087	$	—
Commercial & industrial		6,989		6,989		—
One-to-four family		452		452		—
Consumer		—		—		72
Total	$	32,528	$	32,528	$	72

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

The following tables present the aging of the recorded investment in past due loans by class of loans (in thousands):

					Non-accrual or		Total Past
	30-59		60-89		90 Days and		Due or		Current
At June 30, 2025	Days		Days		Greater		Non-accrual		Loans		Total
Commercial real estate	$	—	$	15,448	$	25,926	$	41,374	$	4,807,778	$	4,849,152
Commercial & industrial		—		—		8,989		8,989		1,007,067		1,016,056
Construction		—		—		—		—		251,693		251,693
Multi-family		—		—		2,554		2,554		411,694		414,248
One-to four-family		—		—		2,469		2,469		86,407		88,876
Consumer		38		32		—		70		11,199		11,269
Total	$	38	$	15,480	$	39,938	$	55,456	$	6,575,838	$	6,631,294

					Non-accrual or		Total Past
	30-59		60-89		90 Days and		Due or		Current
At December 31, 2024	Days		Days		Greater		Non-accrual		Loans		Total
Commercial real estate	$	7,115	$	—	$	25,087	$	32,202	$	4,285,159	$	4,317,361
Commercial & industrial		—		—		6,989		6,989		1,039,157		1,046,146
Construction		—		—		—		—		206,960		206,960
Multi-family		—		—		—		—		376,737		376,737
One-to four-family		2,049		—		452		2,501		88,379		90,880
Consumer		124		22		72		218		12,743		12,961
Total	$	9,288	$	22	$	32,600	$	41,910	$	6,009,135	$	6,051,045

Schedule of risk category of loans by class of loans

The following table presents loan balances by credit quality indicator and year of origination at June 30, 2025 and charge-offs for the six months ended June 30, 2025 (in thousands):

											2020
	2025		2024		2023		2022		2021		& Prior		Revolving		Total
CRE
Pass	$	1,373,024	$	1,283,281	$	944,522	$	727,284	$	210,968	$	178,070	$	50,220	$	4,767,369
Special Mention		18,400		33,953		—		—		—		—		—		52,353
Substandard		1,800		1,087		—		24,000		839		1,704		—		29,430
Total	$	1,393,224	$	1,318,321	$	944,522	$	751,284	$	211,807	$	179,774	$	50,220	$	4,849,152
Construction
Pass	$	76,160	$	49,283	$	86,910	$	9,419	$	—	$	—	$	29,921	$	251,693
Total	$	76,160	$	49,283	$	86,910	$	9,419	$	—	$	—	$	29,921	$	251,693
Multi-family
Pass	$	127,155	$	39,155	$	37,723	$	69,073	$	61,356	$	23,239	$	2,754	$	360,455
Substandard		—		2,554		—		30,300		20,939		—		—		53,793
Total	$	127,155	$	41,709	$	37,723	$	99,373	$	82,295	$	23,239	$	2,754	$	414,248
One-to four-family
Current	$	—	$	—	$	45,000	$	3,246	$	—	$	38,161	$	—	$	86,407
Past Due		—		—		—		—		—		2,469		—		2,469
Total	$	—	$	—	$	45,000	$	3,246	$	—	$	40,630	$	—	$	88,876
C&I
Pass	$	84,596	$	180,934	$	80,630	$	93,630	$	57,497	$	11,597	$	447,935	$	956,819
Substandard		—		—		9,095		30,760		4,197		—		15,185		59,237
Total	$	84,596	$	180,934	$	89,725	$	124,390	$	61,694	$	11,597	$	463,120	$	1,016,056
Consumer
Current	$	—	$	—	$	—	$	—	$	—	$	11,199	$	—	$	11,199
Past due		—		—		—		—		—		70		—		70
Total	$	—	$	—	$	—	$	—	$	—	$	11,269	$	—	$	11,269
Total
Pass/Current	$	1,660,935	$	1,552,653	$	1,194,785	$	902,652	$	329,821	$	262,266	$	530,830	$	6,433,942
Special Mention		18,400		33,953		—		—		—		—		—		52,353
Substandard/Past due		1,800		3,641		9,095		85,060		25,975		4,243		15,185		144,999
Total	$	1,681,135	$	1,590,247	$	1,203,880	$	987,712	$	355,796	$	266,509	$	546,015	$	6,631,294
Charge-offs
Consumer	$	—	$	—	$	—	$	—	$	—	$	230	$	—	$	230

The following table presents loan balances by credit quality indicator and year of origination at December 31, 2024 and charge-offs for the year ended December 31, 2024 (in thousands):

											2019
	2024		2023		2022		2021		2020		& Prior		Revolving		Total
CRE
Pass	$	1,613,785	$	1,114,212	$	927,851	$	241,340	$	125,676	$	149,727	$	26,569	$	4,199,160
Special Mention		73,859		—		5,000		14,255		—		—		—		93,114
Substandard		1,087		—		24,000		—		—		—		—		25,087
Total	$	1,688,731	$	1,114,212	$	956,851	$	255,595	$	125,676	$	149,727	$	26,569	$	4,317,361
Construction
Pass	$	104,503	$	65,231	$	8,693	$	—	$	—	$	—	$	28,533	$	206,960
Total	$	104,503	$	65,231	$	8,693	$	—	$	—	$	—	$	28,533	$	206,960
Multi-family
Pass	$	110,440	$	38,143	$	74,120	$	63,086	$	23,005	$	13,480	$	3,224	$	325,498
Substandard		—		—		30,300		20,939		—		—		—		51,239
Total	$	110,440	$	38,143	$	104,420	$	84,025	$	23,005	$	13,480	$	3,224	$	376,737
One-to four-family
Current	$	—	$	45,000	$	3,469	$	—	$	9,531	$	30,379	$	—	$	88,379
Past Due		—		—		—		—		—		2,501		—		2,501
Total	$	—	$	45,000	$	3,469	$	—	$	9,531	$	32,880	$	—	$	90,880
C&I
Pass	$	238,850	$	96,201	$	119,601	$	62,865	$	14,987	$	1,929	$	452,477	$	986,910
Special Mention		—		1,497		10,246		—		—		—		1,000		12,743
Substandard		—		7,643		20,968		4,697		—		—		13,185		46,493
Total	$	238,850	$	105,341	$	150,815	$	67,562	$	14,987	$	1,929	$	466,662	$	1,046,146
Consumer
Current	$	—	$	—	$	—	$	—	$	—	$	12,743	$	—	$	12,743
Past due		—		—		—		—		—		218		—		218
Total	$	—	$	—	$	—	$	—	$	—	$	12,961	$	—	$	12,961
Total
Pass/Current	$	2,067,578	$	1,358,787	$	1,133,734	$	367,291	$	173,199	$	208,258	$	510,803	$	5,819,650
Special Mention		73,859		1,497		15,246		14,255		—		—		1,000		105,857
Substandard/Past due		1,087		7,643		75,268		25,636		—		2,719		13,185		125,538
Total	$	2,142,524	$	1,367,927	$	1,224,248	$	407,182	$	173,199	$	210,977	$	524,988	$	6,051,045
Charge-offs
Consumer	$	—	$	—	$	—	$	—	$	—	$	247	$	—	$	247

Schedule of borrowers experiencing financial difficulty

The following tables show the amortized cost basis of modified loans to borrowers experiencing financial difficulty during the periods indicated (in thousands):

							Modifications
			Interest Rate				as a % of
Three months ended June 30, 2025	Extension		Reduction		Total		Loan Class
Multi-family	$	—	$	—	$	—	0.0	%
Total	$	—	$	—	$	—
							Modifications
			Interest Rate				as a % of
Six months ended June 30, 2025	Extension		Reduction		Total		Loan Class
Multi-family	$	51,239	$	—	$	51,239	12.4	%
Total	$	51,239	$	—	$	51,239

							Modifications
				Interest Rate			as a % of
Three months ended June 30, 2024	Extension			Reduction	Total		Loan Class
Commercial & industrial	$	4,747	$	—	$	4,747	0.4	%
Multi-family		48,224		3,015		51,239	11.6	%
Total	$	52,971	$	3,015	$	55,986
							Modifications
				Interest Rate			as a % of
Six months ended June 30, 2024	Extension			Reduction	Total		Loan Class
Commercial & industrial	$	11,736	$	—	$	11,736	1.1	%
Multi-family		48,224		3,015		51,239	11.6	%
Total	$	59,960	$	3,015	$	62,975

The following tables describe the types of modifications made to borrowers experiencing financial difficulty:

	Types of Modifications
		Weighted
		Average
		Interest
	Term	Rate
	Extension	Reduction
Three months ended June 30, 2025
Multi-family	—	0.0%
	Types of Modifications
		Weighted
		Average
		Interest
	Term	Rate
	Extension	Reduction
Six months ended June 30, 2025
Multi-family	6-12 months	0.0%

	Types of Modifications
		Weighted
		Average
		Interest
	Term	Rate
	Extension	Reduction
Three months ended June 30, 2024
Commercial & industrial	11-12 months	3.8%
Multi-family	6-12 months	—
	Types of Modifications
		Weighted
		Average
		Interest
	Term	Rate
	Extension	Reduction
Six months ended June 30, 2024
Commercial & industrial	11-12 months	2.9%
Multi-family	6-12 months	4.1%

Unfunded loan commitment

Loans and Leases Receivable Disclosure [Line Items]

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

The following tables present the activity in the ACL for unfunded loan commitments (in thousands):

	Three months ended June 30,				Six months ended June 30,
	2025		2024		2025		2024
Balance at the beginning of period	$	2,046	$	1,136	$	2,008	$	1,181
Provision/(credit) for credit losses		124		52		162		7
Total ending allowance balance	$	2,170	$	1,188	$	2,170	$	1,188