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Loans Receivable and Allowance for Credit Losses (Tables)
 3 Months Ended
Mar. 31, 2022
Receivables [Abstract]  
Schedule of loans receivable Loans receivable at March 31, 2022 and December 31, 2021 are summarized as follows:
March 31,December 31,
20222021
(In thousands)
Real estate loans:
One-to-four family$2,179,698 $2,092,317 
Multifamily1,077,938 1,041,108 
Commercial real estate2,183,704 2,170,236 
Construction261,674 295,047 
Commercial business loans466,517 452,232 
Consumer loans:
Home equity loans and advances270,709 276,563 
Other consumer loans1,659 1,428 
Total gross loans6,441,899 6,328,931 
Purchased credit-deteriorated ("PCD") loans6,655 6,791 
Net deferred loan costs, fees and purchased premiums and discounts28,201 24,879 
Loans receivable$6,476,755 $6,360,601 
Schedule of aging of loans receivable by portfolio segment The following tables summarize the aging of loans receivable by portfolio segment, including non-accrual loans and excluding PCD loans at March 31, 2022 and December 31, 2021:
March 31, 2022
30-59 Days60-89 Days90 Days or MoreTotal Past DueNon-accrual CurrentTotal
(In thousands)
Real estate loans:
One-to-four family$2,284 $1,863 $594 $4,741 $1,409 $2,174,957 $2,179,698 
Multifamily — — — — — 1,077,938 1,077,938 
Commercial real estate4,381 — 2,855 7,236 2,855 2,176,468 2,183,704 
Construction— — — — — 261,674 261,674 
Commercial business loans411 — 175 586 195 465,931 466,517 
Consumer loans:
Home equity loans and advances245 — 136 381 136 270,328 270,709 
Other consumer loans— 14 — 14 — 1,645 1,659 
Total loans$7,321 $1,877 $3,760 $12,958 $4,595 $6,428,941 $6,441,899 

December 31, 2021
30-59 Days60-89 Days90 Days or MoreTotal Past DueNon-accrualCurrentTotal
(In thousands)
Real estate loans:
One-to-four family$3,131 $1,976 $373 $5,480 $1,416 $2,086,837 $2,092,317 
Multifamily — — — — — 1,041,108 1,041,108 
Commercial real estate2,189 — 1,561 3,750 1,561 2,166,486 2,170,236 
Construction— — — — — 295,047 295,047 
Commercial business loans412 — 203 615 761 451,617 452,232 
Consumer loans:
Home equity loans and advances108 53 81 242 201 276,321 276,563 
Other consumer loans— 4 — 4 — 1,424 1,428 
Total loans$5,840 $2,033 $2,218 $10,091 $3,939 $6,318,840 $6,328,931 
Schedule of loans receivable by portfolio segment and impairment method The following tables summarize loans receivable (including PCD loans) and allowance for credit losses by portfolio segment and impairment method at March 31, 2022 and December 31, 2021:
March 31, 2022
One-to-Four FamilyMultifamily Commercial Real EstateConstructionCommercial Business Home Equity Loans and AdvancesOther Consumer LoansTotal
(In thousands)
Allowance for credit losses:
Individually evaluated for impairment$255 $5 $97 $— $11 $29 $— $397 
Collectively evaluated for impairment8,557 11,198 13,384 4,974 7,117 1,478 8 46,716 
Loans acquired with deteriorated credit quality2 — 32 — 15 — — 49 
Total $8,814 $11,203 $13,513 $4,974 $7,143 $1,507 $8 $47,162 
Total loans:
Individually evaluated for impairment$4,876 $741 $17,014 $— $1,444 $887 $— $24,962 
Collectively evaluated for impairment2,174,822 1,077,197 2,166,690 261,674 465,073 269,822 1,659 6,416,937 
Loans acquired with deteriorated credit quality423 — 5,399 — 833 — — 6,655 
Total loans$2,180,121 $1,077,938 $2,189,103 $261,674 $467,350 $270,709 $1,659 $6,448,554 
9.    Loans Receivable and Allowance for Credit Losses (continued)

December 31, 2021
One-to-Four FamilyMultifamily Commercial Real EstateConstructionCommercial Business Home Equity Loans and AdvancesOther Consumer LoansTotal
(In thousands)
Allowance for credit losses:
Individually evaluated for impairment$258 $— $97 $— $16 $7 $— $378 
Collectively evaluated for impairment8,540 7,741 16,017 8,943 20,198 866 6 62,311 
Loans acquired with deteriorated credit quality— — — — — — — — 
Total $8,798 $7,741 $16,114 $8,943 $20,214 $873 $6 $62,689 
Total loans:
Individually evaluated for impairment$5,184 $762 $15,830 $— $1,806 $705 $— $24,287 
Collectively evaluated for impairment2,087,133 1,040,346 2,154,406 295,047 450,426 275,858 1,428 6,304,644 
Loans acquired with deteriorated credit quality431 — 5,426 — 934 — — 6,791 
Total loans$2,092,748 $1,041,108 $2,175,662 $295,047 $453,166 $276,563 $1,428 $6,335,722 
The activity in the allowance for credit losses by portfolio segment for the three months ended March 31, 2022 and 2021 are as follows:
 For the Three Months Ended March 31,
One-to-Four FamilyMultifamily Commercial Real EstateConstructionCommercial Business Home Equity Loans and AdvancesOther Consumer LoansTotals
(In thousands)
2022
Balance at beginning of period$8,798 $7,741 $16,114 $8,943 $20,214 $873 $6 $62,689 
Effect of adopting ASU No. 2016-13 ("CECL")(2,308)(2,030)(4,227)(2,346)(5,302)(229)(1)(16,443)
Provision for (reversal of) credit losses2,185 5,492 1,626 (1,623)(7,767)886 6 805 
Recoveries139 — — — 25 4 — 168 
Charge-offs— — — — (27)(27)(3)(57)
Balance at end of period$8,814 $11,203 $13,513 $4,974 $7,143 $1,507 $8 $47,162 
2021
Balance at beginning of period$13,586 $8,897 $21,784 $11,271 $17,384 $1,748 $6 $74,676 
Provision for (reversal of) credit losses6,477 (1,942)(4,730)192 (1,509)230 2 (1,280)
Recoveries3 — 6 1 16 11 — 37 
Charge-offs(216)— (166)— (1,087)(58)(2)(1,529)
Balance at end of period$19,850 $6,955 $16,894 $11,464 $14,804 $1,931 $6 $71,904 
The following table presents the activity in the allowance for credit losses on off balance sheet exposures for the three months ended March 31, 2022:
Three Months Ended March 31, 2022
(In thousands)
Allowance for Credit Losses:
Balance at December 31, 2021
$524 
Impact of adopting ASU 2016-13 ("CECL") effective January 1, 20227,674 
Provision for credit losses648 
Balance at March 31, 2022
$8,846 
Schedule of troubled debt restructuring
The following tables present the number of loans modified as TDRs during the three months ended March 31, 2022 and 2021, along with their balances immediately prior to the modification date and post-modification. Post-modification recorded investment represents the net book balance immediately following modification.

 For the Three Months Ended March 31,
20222021
No. of LoansPre-modification Recorded InvestmentPost-modification Recorded InvestmentNo. of LoansPre-modification Recorded InvestmentPost-modification Recorded Investment
(Dollars in thousands)
Troubled Debt Restructurings
Consumer loans:
Home equity loans and advances1 $119 $119 — $— $— 
Total restructured loans1 $119 $119 — $— $— 
Schedule of loans individually evaluated for impairment
The following tables present loans individually evaluated for impairment by loan segment, excluding PCD loans, at March 31, 2022 and December 31, 2021:

At March 31, 2022
Recorded InvestmentUnpaid Principal BalanceSpecific Allowance
(In thousands)
With no allowance recorded:
Real estate loans:
One-to-four family$1,706 $2,246 $— 
Multifamily 66 70 — 
Commercial real estate15,064 15,753 — 
Commercial business loans163 191 — 
Consumer loans:
Home equity loans and advances270 376 — 
17,269 18,636 — 
With a specific allowance recorded:
Real estate loans:
One-to-four family3,170 3,189 255 
Multifamily675 675 5 
Commercial real estate1,950 1,952 97 
Commercial business loans1,281 1,281 11 
Consumer loans:
Home equity loans and advances617 617 29 
7,693 7,714 397 
Total:
Real estate loans:
One-to-four family4,876 5,435 255 
Multifamily 741 745 5 
Commercial real estate17,014 17,705 97 
Commercial business loans1,444 1,472 11 
Consumer loans:
Home equity loans and advances887 993 29 
Total loans$24,962 $26,350 $397 
9.    Loans Receivable and Allowance for Credit Losses (continued)

At December 31, 2021
Recorded InvestmentUnpaid Principal BalanceSpecific Allowance
(In thousands)
With no allowance recorded:
Real estate loans:
One-to-four family$1,882 $2,421 $— 
Multifamily 762 765 — 
Commercial real estate13,861 14,586 — 
Commercial business loans573 573 — 
Consumer loans:
Home equity loans and advances202 308 — 
17,280 18,653 — 
With a specific allowance recorded:
Real estate loans:
One-to-four family3,302 3,321 258 
Commercial real estate1,969 1,971 97 
Commercial business loans1,233 1,233 16 
Consumer loans:
Home equity loans and advances503 503 7 
7,007 7,028 378 
Total:
Real estate loans:
One-to-four family5,184 5,742 258 
Multifamily 762 765 — 
Commercial real estate15,830 16,557 97 
Commercial business loans1,806 1,806 16 
Consumer loans:
Home equity loans and advances705 811 7 
$24,287 $25,681 $378 
The following table present interest income recognized for loans individually evaluated for impairment, by loan segment, excluding PCD loans for the three months ended March 31, 2022 and 2021:
 For the Three Months Ended March 31,
20222021
Average Recorded InvestmentInterest Income RecognizedAverage Recorded InvestmentInterest Income Recognized
(In thousands)
Real estate loans:
One-to-four family$5,030 $55 $6,944 $74 
Multifamily 752 11 16,060 173 
Commercial real estate16,423 242 16,603 252 
Commercial business loans1,626 22 2,957 29 
Consumer loans:
Home equity loans and advances796 11 1,611 22 
Total loans$24,627 $341 $44,175 $550 
Schedule of loans receivable by credit quality risk
Loans by Year of Origination at March 31, 2022
20222021202020192018PriorRevolving LoansRevolving Loans to Term LoansTotal
(In thousands)
One-to-Four Family
Pass$134,350 $820,062 $288,339 $185,150 $130,336 $618,808 $— $— $2,177,045 
Special mention— — — — — — — — — 
Substandard— — — 507 846 1,300 — — 2,653 
Total One-to-Four Family134,350 820,062 288,339 185,657 131,182 620,108 — — 2,179,698 
Multifamily
Pass68,228 306,862 176,040 232,509 49,825 239,916 — — 1,073,380 
Special mention— — — — — 4,558 — — 4,558 
Substandard— — — — — — — — — 
Total Multifamily68,228 306,862 176,040 232,509 49,825 244,474 — — 1,077,938 
Commercial Real Estate
Pass94,039 375,274 158,456 273,193 243,264 963,793 — — 2,108,019 
Special mention— — — 1,077 15,959 30,767 — — 47,803 
Substandard— — 1,677 — 1,561 24,644 — — 27,882 
Total Commercial Real Estate94,039 375,274 160,133 274,270 260,784 1,019,204 — — 2,183,704 
Construction
Pass25,018 103,661 60,343 26,936 12,370 33,239 — — 261,567 
Special mention— — — 107 — — — — 107 
Substandard— — — — — — — — — 
Total Construction25,018 103,661 60,343 27,043 12,370 33,239 — — 261,674 
9.    Loans Receivable and Allowance for Credit Losses (continued)

Loans by Year of Origination at March 31, 2022
20222021202020192018PriorRevolving LoansRevolving Loans to Term LoansTotal
(In thousands)
Commercial Business
Pass11,417 61,122 34,612 24,236 28,606 44,945 246,199 — 451,137 
Special mention— 235 — 1,412 1,181 44 2,806 — 5,678 
Substandard— 171 68 321 2,787 570 5,785 — 9,702 
Total Commercial Business11,417 61,528 34,680 25,969 32,574 45,559 254,790 — 466,517 
Home Equity Loans and Advances
Pass7,473 22,217 15,097 14,303 12,162 103,868 94,865 457 270,442 
Special mention— — — — — — — — — 
Substandard— — — — — 177 90 — 267 
Total Home Equity Loans and Advances7,473 22,217 15,097 14,303 12,162 104,045 94,955 457 270,709 
Other Consumer Loans
Pass877 116 54 229 49 10 324 — 1,659 
Special mention— — — — — — — — — 
Substandard— — — — — — — — — 
Total Other Consumer Loans877 116 54 229 49 10 324 — 1,659 
Total Loans$341,402 $1,689,720 $734,686 $759,980 $498,946 $2,066,639 $350,069 $457 $6,441,899 
9.    Loans Receivable and Allowance for Credit Losses (continued)

Loans by Year of Origination at December 31, 2021
20212020201920182017PriorRevolving LoansRevolving Loans to Term LoansTotal
(In thousands)
One-to-Four Family
Pass$793,848 $298,815 $196,244 $138,215 $134,811 $525,615 $— $— $2,087,548 
Special mention— — — — — 203 — — 203 
Substandard— — 1,463 1,420 360 1,323 — — 4,566 
Total One-to-Four family793,848 298,815 197,707 139,635 135,171 527,141 — — 2,092,317 
Multifamily
Pass312,738 181,285 231,252 47,024 131,169 137,640 — — 1,041,108 
Special mention— — — — — — — — — 
Substandard— — — — — — — — — 
Total Multifamily312,738 181,285 231,252 47,024 131,169 137,640 — — 1,041,108 
Commercial Real Estate
Pass381,222 161,136 278,581 241,669 222,752 803,945 — — 2,089,305 
Special mention— — 1,303 16,070 1,885 34,788 — — 54,046 
Substandard— 386 — 1,561 1,276 23,662 — — 26,885 
Total Commercial Real Estate381,222 161,522 279,884 259,300 225,913 862,395 — — 2,170,236 
Construction
Pass107,070 77,549 37,498 41,591 28,814 2,418 — — 294,940 
Special mention— — 107 — — — — — 107 
Substandard— — — — — — — — — 
Total Construction107,070 77,549 37,605 41,591 28,814 2,418 — — 295,047 
9.    Loans Receivable and Allowance for Credit Losses (continued)

Loans by Year of Origination at December 31, 2021
20212020201920182017PriorRevolving LoansRevolving Loans to Term LoansTotal
(In thousands)
Commercial Business
Pass84,113 36,115 25,156 30,670 21,762 26,515 210,597 — 434,928 
Special mention246 15 1,729 1,369 18 46 3,291 — 6,714 
Substandard192 71 352 1,084 371 609 7,911 — 10,590 
Total Commercial Business84,551 36,201 27,237 33,123 22,151 27,170 221,799 — 452,232 
Home Equity Loans and Advances
Pass22,393 15,977 15,906 13,146 12,023 100,870 95,484 426 276,225 
Special mention— — — — — — — — — 
Substandard— — — — — 246 92 — 338 
Total Home Equity Loans and Advances22,393 15,977 15,906 13,146 12,023 101,116 95,576 426 276,563 
Other Consumer Loans
Pass659 58 284 60 9 5 353 — 1,428 
Special mention— — — — — — — — — 
Substandard— — — — — — — — — 
Total Other Consumer Loans659 58 284 60 9 5 353 — 1,428 
Total Loans$1,702,481 $771,407 $789,875 $533,879 $555,250 $1,657,885 $317,728 $426 $6,328,931