
	September 30,		December 31,
	2023		2022
	(In thousands)
Real estate loans:
One-to-four family	$	2,791,939	$	2,860,184
Multifamily	1,417,233		1,239,207
Commercial real estate	2,374,488		2,413,394
Construction	390,940		336,553
Commercial business loans	546,750		497,469
Consumer loans:
Home equity loans and advances	267,016		274,302
Other consumer loans	2,586		3,425
Total gross loans	7,790,952		7,624,534
Purchased credit-deteriorated ("PCD") loans	15,228		17,059
Net deferred loan costs, fees and purchased premiums and discounts	34,360		35,971
Loans receivable	$	7,840,540	$	7,677,564

The Company had no loans held-for-sale at September 30, 2023 and December 31, 2022. During the three months ended September 30, 2023, the Company sold $6.8 million, $7.1 million, and $1.9 million of one-to-four family real estate loans, Small Business Administration ("SBA") loans included in commercial business loans, and construction loans held-for-sale, respectively, resulting in gross gains of $454,000 and $58,000 of gross losses. During the nine months ended September 30, 2023, the Company sold $64.6 million, $21.4 million, $18.4 million, and $5.7 million, of one-to-four family real estate loans and home equity loans and advances, commercial real estate loans, SBA loans included in commercial business loans, and construction loans held-for-sale, respectively, resulting in gross gains of $1.4 million and $383,000 of gross losses.

During the three months ended September 30, 2022, the Company sold $1.8 million, $685,000 and $510,000 of one-to-four family real estate loans, SBA loans included in commercial business loans, and construction loans held-for-sale, respectively, resulting in gross gains of $63,000 and gross losses of $64,000. During the nine months ended September 30, 2022, the Company sold $2.4 million, $2.0 million and $1.8 million of one-to-four family real estate loans, SBA loans included in commercial business loans, and construction loans held-for-sale, respectively, resulting in gross gains of $173,000 and gross losses of $64,000.

During the three months ended September 30, 2023, no loans were purchased by the Company. During the nine months ended September 30, 2023, the Company purchased a $14.7 million commercial real estate participation loan from a third-party financial institution. During the three and nine months ended September 30, 2022, no loans were purchased by the Company.


	September 30, 2023
	30-59 Days		60-89 Days		90 Days or More		Total Past Due		Non-accrual		Current		Total
	(In thousands)
Real estate loans:
One-to-four family	$	7,807	$	2,982	$	1,611	$	12,400	$	4,305	$	2,779,539	$	2,791,939
Multifamily	—		—		—		—		—		1,417,233		1,417,233
Commercial real estate	6,463		—		4,063		10,526		4,063		2,363,962		2,374,488
Construction	—		—		—		—		—		390,940		390,940
Commercial business loans	—		5,000		6,602		11,602		6,602		535,148		546,750
Consumer loans:
Home equity loans and advances	393		63		89		545		180		266,471		267,016
Other consumer loans	—		—		—		—		—		2,586		2,586
Total loans	$	14,663	$	8,045	$	12,365	$	35,073	$	15,150	$	7,755,879	$	7,790,952


	December 31, 2022
	30-59 Days		60-89 Days		90 Days or More		Total Past Due		Non-accrual		Current		Total
	(In thousands)
Real estate loans:
One-to-four family	$	4,063	$	1,149	$	1,808	$	7,020	$	2,730	$	2,853,164	$	2,860,184
Multifamily	—		—		—		—		—		1,239,207		1,239,207
Commercial real estate	—		853		2,892		3,745		2,892		2,409,649		2,413,394
Construction	5,218		—		—		5,218		—		331,335		336,553
Commercial business loans	220		—		474		694		801		496,775		497,469
Consumer loans:
Home equity loans and advances	465		33		286		784		286		273,518		274,302
Other consumer loans	3		1		12		16		12		3,409		3,425
Total loans	$	9,969	$	2,036	$	5,472	$	17,477	$	6,721	$	7,607,057	$	7,624,534

The Company considers a loan to be delinquent when we have not received a payment within 30 days of its contractual due date. Generally, a loan is designated as a non-accrual loan when the payment of interest is 90 days or more in arrears of its contractual due date. Non-accruing loans are returned to accrual status after there has been a sustained period of repayment performance (generally six consecutive months of payments) and both principal and interest are deemed collectible. The Company identifies loans that may need to be charged-off as a loss, by reviewing all delinquent loans, classified loans and other loans that management may have concerns about collectability. At September 30, 2023 and December 31, 2022, non-accrual loans totaled $15.2 million and $6.7 million, respectively. Included in non-accrual loans at September 30, 2023 and December 31, 2022, are 13 and 7 loans totaling $2.8 million and $1.2 million, respectively, which are less than 90 days in arrears.

Purchased credit impaired loans ("PCI") were loans acquired at a discount primarily due to deteriorated credit quality. These loans were initially recorded at fair value at acquisition, based upon the present value of expected future cash flows, with no related allowance for credit losses. In connection with the adoption of CECL on January 1, 2022, all loans considered PCI loans prior to that date were converted to purchase credit-deteriorated ("PCD") loans. Loans acquired in a business combination after January 1, 2022 are recorded in accordance with ASC Topic 326, which requires loans as of the acquisition date, that have experienced a more than insignificant deterioration in credit quality since origination to be classified as PCD loans.

At September 30, 2023 and December 31, 2022, PCD loans acquired in the Stewardship Financial Corporation ("Stewardship") acquisition totaled $1.7 million and $2.0 million, respectively, PCD loans acquired in the Roselle Bank acquisition totaled $0 and $184,000, respectively, PCD loans acquired in the Freehold Bank acquisition totaled $2.8 million and $3.7 million, respectively, and PCD loans acquired in the RSI Bank acquisition totaled $10.7 million and $11.3 million, respectively.

We may obtain physical possession of real estate collateralizing a residential mortgage loan via foreclosure or through an in-substance repossession. At September 30, 2023 and December 31, 2022, the Company had no real estate owned. At September 30, 2023 we had one one-to-four family loan with a carrying value of $579,000 and one home equity loan with a carrying value of $89,000, collateralized by residential real estate which were in the process of foreclosure. At December 31, 2022, we had two home equity loans with a total carrying value of $81,000, collateralized by residential real estate which were in the process of foreclosure.

On January 1, 2022, the Company adopted CECL (ASC Topic 326), which replaced the historical incurred loss methodology with an expected loss methodology. The loan portfolio segmentation was expanded to seven portfolio segments taking into consideration common loan attributes and risk characteristics, as well as historical reporting metrics and data availability. The Company made an accounting policy election to exclude accrued interest receivable from the amortized cost basis of loans receivable. Accrued interest receivable on loans receivable is reported as a component of accrued interest receivable in the Consolidated Statement of Financial Condition, which totaled $31.6 million and $29.4 million at September 30, 2023 and December 31, 2022, respectively, and is excluded from the estimate of credit losses.

The allowance for credit losses on loans reflects management’s evaluation of the current expected credit losses in the loan portfolio. The Company maintains the allowance for credit losses through provisions for credit losses that are charged to income. Charge-offs against the allowance for credit losses are taken on loans where management determines that the collection of loan principal and interest is unlikely. Recoveries made on loans that have been charged-off are credited to the allowance for credit losses.

Management estimates the allowance balance using relevant available information, from internal and external sources, related to past events, current conditions, and a reasonable and supportable forecast. Historical credit loss experience for both the Company and peers provides the basis for the estimation of expected credit losses, where observed credit losses are converted to probability of default rate through the use of segment-specific loss given default risk factors that convert default rates to loss severity based on industry-level, observed relationships between the two variables for each segment, primarily due to the nature of the underlying collateral. These risk factors were assessed for reasonableness against the Company’s own loss experience and adjusted in certain cases when the relationship between the Company’s historical default and loss severity deviate from that of the wider industry. The historical probability of default ("PD") curves, together with corresponding economic conditions, establish a quantitative relationship between economic conditions and loan performance through an economic cycle.

Using the historical relationship between economic conditions and loan performance, management’s expectation of future loan performance is incorporated using an externally developed economic forecast. This forecast is applied over a period that management has determined to be reasonable and supportable. Beyond the period over which management can develop or source a reasonable and supportable forecast, the model will revert to long-term average economic conditions using a straight-line, time-based methodology. The Company's current forecast period is six quarters, with a four quarter reversion period to historical average macroeconomic factors.

The allowance for credit losses is measured on a collective (pool) basis, with both a quantitative and qualitative analysis that is applied on a quarterly basis, when similar risk characteristics exist. The respective quantitative allowance for each segment is measured using an economic forecast, discounted cash flow modeling methodology in which distinct, segment-specific multi-variate regression models are applied to an external economic forecast. Under the discounted cash flows methodology, expected credit losses are estimated over the effective life of the loans by measuring the difference between the net present value of modeled cash flows and amortized cost basis. Contractual cash flows over the contractual life of the loans are the basis for modeled cash flows, adjusted for modeled defaults and expected prepayments and discounted at the loan-level effective interest rate. The contractual term excludes expected extensions, renewals, and modifications. After quantitative considerations, management applies additional qualitative adjustments so that the allowance for credit loss is reflective of the estimate of lifetime losses that exist in the loan portfolio at the balance sheet date.

Portfolio segment is defined as the level at which an entity develops and documents a systematic methodology to determine its allowance for credit losses. Management developed segments for estimating loss based on type of borrower and collateral, which is generally based upon federal call report segmentation. The segments have been combined or sub-segmented as needed to ensure loans of similar risk profiles are appropriately pooled.

Management believes the primary risks inherent in the portfolio are a general decline in the economy, a decline in real estate market values, rising unemployment, and increases in interest rates in the absence of economic improvement. Any one or a combination of these events may adversely affect a borrower's ability to repay its loan, resulting in increased delinquencies and loan losses. Accordingly, the Company has recorded loan losses at a level which is estimated to represent the current risk in its loan portfolio. Management considers it important to maintain the ratio of the allowance for credit losses to total loans at an acceptable level considering the current composition of the loan portfolio.


	September 30, 2023
	One-to-Four Family		Multifamily		Commercial Real Estate		Construction		Commercial Business		Home Equity Loans and Advances		Other Consumer Loans		Total
	(In thousands)
Allowance for credit losses:
Individually analyzed loans	$	186	$	2	$	307	$	—	$	107	$	29	$	—	$	631
Collectively analyzed loans	11,681		9,507		15,311		6,945		7,704		2,160		7		53,315
Loans acquired with deteriorated credit quality	4		—		140		—		23		—		—		167
Total	$	11,871	$	9,509	$	15,758	$	6,945	$	7,834	$	2,189	$	7	$	54,113

Total loans:
Individually analyzed loans	$	3,967	$	401	$	16,768	$	—	$	11,692	$	611	$	—	$	33,439
Collectively analyzed loans	2,787,972		1,416,832		2,357,720		390,940		535,058		266,405		2,586		7,757,513
Loans acquired with deteriorated credit quality	1,913		—		11,749		1,039		388		139		—		15,228
Total loans	$	2,793,852	$	1,417,233	$	2,386,237	$	391,979	$	547,138	$	267,155	$	2,586	$	7,806,180


	December 31, 2022
	One-to-Four Family		Multifamily		Commercial Real Estate		Construction		Commercial Business		Home Equity Loans and Advances		Other Consumer Loans		Total
	(In thousands)
Allowance for credit losses:
Individually analyzed loans	$	201	$	3	$	99	$	—	$	10	$	26	$	—	$	339
Collectively analyzed loans	11,591		7,874		17,961		6,415		6,876		1,654		10		52,381
Loans acquired with deteriorated credit quality	10		—		51		10		11		1		—		83
Total	$	11,802	$	7,877	$	18,111	$	6,425	$	6,897	$	1,681	$	10	$	52,803

Total loans:
Individually analyzed loans	$	4,164	$	457	$	16,729	$	—	$	1,173	$	697	$	—	$	23,220
Collectively analyzed loans	2,856,020		1,238,750		2,396,665		336,553		496,296		273,605		3,425		7,601,314
Loans acquired with deteriorated credit quality	2,158		—		13,116		1,040		496		249		—		17,059
Total loans	$	2,862,342	$	1,239,207	$	2,426,510	$	337,593	$	497,965	$	274,551	$	3,425	$	7,641,593

On January 1, 2023, the Company adopted ASU 2022-02, Financial Instruments-Credit Losses (Topic 326), Troubled Debt Restructurings and Vintage Disclosures, which eliminated the accounting guidance for troubled debt restructurings (“TDRs”) while enhancing disclosure requirements for certain loan refinancing and restructurings by creditors when a borrower is experiencing financial difficulty. This guidance was applied on a prospective basis. Modifications made to borrowers experiencing financial difficulty may include principal or interest forgiveness, forbearance, interest rate reductions, term extensions, or a combination of these events intended to minimize economic loss and to avoid foreclosure or repossession of collateral.


	Three Months Ended September 30, 2023
	Amortized Cost		Term Extension		Combination of Term Extension, Interest Rate Reduction, and Principal Forgiveness		% of Total Class of Loans Receivable
	(In thousands)

Commercial real estate	$	1,038	$	1,038	$	—	—	%

Commercial business	5,000		—		5,000		0.9
Total loans	$	6,038	$	1,038	$	5,000	0.1	%


	Nine Months Ended September 30, 2023
	Amortized Cost		Term Extension		Combination of Term Extension, Interest Rate Reduction, and Principal Forgiveness		% of Total Class of Loans Receivable
	(In thousands)

Commercial real estate	$	1,038	$	1,038	$	—	—	%
Construction	2,317		2,317		—		0.6
Commercial business	5,240		240		5,000		1.0
Total loans	$	8,595	$	3,595	$	5,000	0.1	%

The Company closely monitors the performance of modifications of loans to borrowers experiencing financial difficulty to understand the effectiveness of these modification efforts. The Company did not extend any commitments to lend additional funds to borrowers experiencing financial difficulty whose loans had been modified during the three and nine months ended September 30, 2023.


	For the Three Months Ended September 30,
	One-to-Four Family		Multifamily		Commercial Real Estate		Construction		Commercial Business		Home Equity Loans and Advances		Other Consumer Loans		Totals
	(In thousands)
2023
Balance at beginning of period	$	11,026	$	9,392	$	16,212	$	6,935	$	7,690	$	2,193	$	8	$	53,456

Provision for (reversal of) credit losses	1,063		117		(454)		10		1,688		(53)		8		2,379
Recoveries	—		—		—		—		624		49		1		674
Charge-offs	(218)		—		—		—		(2,168)		—		(10)		(2,396)
Balance at end of period	$	11,871	$	9,509	$	15,758	$	6,945	$	7,834	$	2,189	$	7	$	54,113

2022
Balance at beginning of period	$	10,836	$	10,932	$	14,480	$	5,570	$	7,284	$	1,471	$	10	$	50,583


Provision for (reversal of) credit losses	1,394		(3,683)		3,219		70		120		385		11		1,516
Recoveries	—		—		—		—		76		18		—		94
Charge-offs	(284)		—		—		—		—		(6)		(12)		(302)
Balance at end of period	$	11,946	$	7,249	$	17,699	$	5,640	$	7,480	$	1,868	$	9	$	51,891


	For the Nine Months Ended September 30,
	One-to-Four Family		Multifamily		Commercial Real Estate		Construction		Commercial Business		Home Equity Loans and Advances		Other Consumer Loans		Totals
	(In thousands)
2023
Balance at beginning of period	$	11,802	$	7,877	$	18,111	$	6,425	$	6,897	$	1,681	$	10	$	52,803


Provision for (reversal of) credit losses	421		1,632		(2,203)		520		2,725		460		77		3,632
Recoveries	—		—		—		—		830		73		6		909
Charge-offs	(352)		—		(150)		—		(2,618)		(25)		(86)		(3,231)
Balance at end of period	$	11,871	$	9,509	$	15,758	$	6,945	$	7,834	$	2,189	$	7	$	54,113

2022
Balance at beginning of period	$	8,798	$	7,741	$	16,114	$	8,943	$	20,214	$	873	$	6	$	62,689
Initial adoption -CECL	(2,308)		(2,030)		(4,227)		(2,346)		(5,302)		(229)		(1)		(16,443)
Initial allowance related to PCD loans	131		—		474		3		19		6		—		633
Provision for (reversal of) credit losses	5,364		1,538		5,338		(960)		(7,520)		1,225		19		5,004
Recoveries	338		—		—		—		131		26		—		495
Charge-offs	(377)		—		—		—		(62)		(33)		(15)		(487)
Balance at end of period	$	11,946	$	7,249	$	17,699	$	5,640	$	7,480	$	1,868	$	9	$	51,891


	At September 30, 2023
	Recorded Investment		Unpaid Principal Balance		Specific Allowance
	(In thousands)
With no allowance recorded:
Real estate loans:
One-to-four family	$	1,345	$	1,693	$	—
Multifamily	51		55		—
Commercial real estate	14,097		15,721		—

Commercial business loans	5,819		7,025		—
Consumer loans:
Home equity loans and advances	150		168		—
	21,462		24,662		—
With a specific allowance recorded:
Real estate loans:
One-to-four family	2,622		2,641		186
Multifamily	350		350		2
Commercial real estate	2,671		2,673		307

Commercial business loans	5,873		5,873		107
Consumer loans:
Home equity loans and advances	461		461		29
	11,977		11,998		631
Total:
Real estate loans:
One-to-four family	3,967		4,334		186
Multifamily	401		405		2
Commercial real estate	16,768		18,394		307

Commercial business loans	11,692		12,898		107
Consumer loans:
Home equity loans and advances	611		629		29
Total loans	$	33,439	$	36,660	$	631


	At December 31, 2022
	Recorded Investment		Unpaid Principal Balance		Specific Allowance
	(In thousands)
With no allowance recorded:
Real estate loans:
One-to-four family	$	1,296	$	1,644	$	—
Multifamily	59		63		—
Commercial real estate	14,836		15,699		—

Commercial business loans	143		400		—
Consumer loans:
Home equity loans and advances	223		315		—
	16,557		18,121		—
With a specific allowance recorded:
Real estate loans:
One-to-four family	2,868		2,887		201
Multifamily	398		397		3
Commercial real estate	1,893		1,896		99

Commercial business loans	1,030		1,030		10
Consumer loans:
Home equity loans and advances	474		474		26
	6,663		6,684		339
Total:
Real estate loans:
One-to-four family	4,164		4,531		201
Multifamily	457		460		3
Commercial real estate	16,729		17,595		99

Commercial business loans	1,173		1,430		10
Consumer loans:
Home equity loans and advances	697		789		26
	$	23,220	$	24,805	$	339

Specific allocations of the allowance for credit losses attributable to impaired loans totaled $631,000 and $339,000 at September 30, 2023 and December 31, 2022, respectively. At September 30, 2023 and December 31, 2022, impaired loans for which there was no related allowance for credit losses totaled $21.5 million and $16.6 million, respectively.


	For the Three Months Ended September 30,
	2023				2022
	Average Recorded Investment		Interest Income Recognized		Average Recorded Investment		Interest Income Recognized
	(In thousands)
Real estate loans:
One-to-four family	$	4,329	$	54	$	4,251	$	45
Multifamily	411		5		598		6
Commercial real estate	16,653		214		16,086		163

Commercial business loans	7,657		78		1,269		22
Consumer loans:
Home equity loans and advances	626		15		777		9
Total loans	$	29,676	$	366	$	22,981	$	245


	For the Nine Months Ended September 30,
	2023				2022
	Average Recorded Investment		Interest Income Recognized		Average Recorded Investment		Interest Income Recognized
	(In thousands)
Real estate loans:
One-to-four family	$	4,394	$	154	$	4,640	$	146
Multifamily	429		15		675		28
Commercial real estate	16,452		516		16,254		568

Commercial business loans	4,780		148		1,447		66
Consumer loans:
Home equity loans and advances	657		32		787		29
Total loans	$	26,712	$	865	$	23,803	$	837

Management prepares an analysis each quarter that categorizes the entire loan portfolio by certain risk characteristics such as loan type (residential mortgage, commercial mortgage, construction, commercial business, etc.) and loan risk rating. The categorization of loans into risk categories is based upon relevant information about the borrower's ability to service their debt.

The Company utilizes an eight-point risk rating system to summarize its loan portfolio into categories with similar risk characteristics. Loans deemed to be “acceptable quality” are rated 1 through 4 (Pass), with a rating of 1 established for loans with minimal risk. Loans that are deemed to be of “questionable quality” are rated 5 (Special Mention) or 6 (Substandard). Loans with adverse classifications are rated 7 (Doubtful) or 8 (Loss). The risk ratings are also confirmed through periodic loan review examinations which are currently performed by both an independent third-party and the Company's credit risk review department. The Company requires an annual review be performed above certain dollar thresholds, depending on loan type, to help determine the appropriate risk ratings. Results from examinations are presented to the Audit Committee of the Board of Directors.


	Loans by Year of Origination at September 30, 2023
	2023		2022		2021		2020		2019		Prior		Revolving Loans		Revolving Loans to Term Loans		Total
	(In thousands)
One-to-Four Family
Pass	$	100,102	$	794,991	$	806,192	$	277,750	$	168,116	$	640,209	$	—	$	—	$	2,787,360
Special mention	—		—		—		—		—		—		—		—		—
Substandard	—		1,222		553		155		960		1,689		—		—		4,579


Total One-to-Four Family	100,102		796,213		806,745		277,905		169,076		641,898		—		—		2,791,939
Gross charge-offs	—		3		197		—		—		152		—		—		352

Multifamily
Pass	107,375		315,525		361,644		160,831		204,079		257,498		—		—		1,406,952
Special mention	—		—		—		—		—		4,525		—		—		4,525
Substandard	—		5,756		—		—		—		—		—		—		5,756


Total Multifamily	107,375		321,281		361,644		160,831		204,079		262,023		—		—		1,417,233
Gross charge-offs	—		—		—		—		—		—		—		—		—

Commercial Real Estate
Pass	167,016		417,317		368,522		174,970		240,513		967,119		—		—		2,335,457
Special mention	—		—		469		—		877		20,620		—		—		21,966
Substandard	—		—		911		3,094		—		13,060		—		—		17,065


Total Commercial Real Estate	167,016		417,317		369,902		178,064		241,390		1,000,799		—		—		2,374,488
Gross charge-offs	—		—		—		—		64		86		—		—		150

Construction
Pass	61,208		252,894		68,281		4,933		440		3,184		—		—		390,940
Special mention	—		—		—		—		—		—		—		—		—
Substandard	—		—		—		—		—		—		—		—		—


Total Construction	61,208		252,894		68,281		4,933		440		3,184		—		—		390,940
Gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—


	Loans by Year of Origination at September 30, 2023
	2023		2022		2021		2020		2019		Prior		Revolving Loans		Revolving Loans to Term Loans		Total
	(In thousands)
Commercial Business
Pass	$	56,079	$	52,324	$	30,412	$	28,374	$	16,834	$	42,735	$	294,125	$	—	$	520,883
Special mention	131		321		49		114		—		2,284		6,904		—		9,803
Substandard	—		76		123		7		1,035		5,689		9,134		—		16,064


Total Commercial Business	56,210		52,721		30,584		28,495		17,869		50,708		310,163		—		546,750
Gross charge-offs	—		—		31		34		2,249		304		—		—		2,618

Home Equity Loans and Advances
Pass	14,856		21,272		18,628		11,684		10,387		87,826		101,716		426		266,795
Special mention	—		—		—		—		—		—		—		—		—
Substandard	—		—		—		—		—		221		—		—		221


Total Home Equity Loans and Advances	14,856		21,272		18,628		11,684		10,387		88,047		101,716		426		267,016
Gross charge-offs	—		—		—		—		—		25		—		—		25

Other Consumer Loans
Pass	1,921		171		47		11		34		90		312		—		2,586
Special mention	—		—		—		—		—		—		—		—		—
Substandard	—		—		—		—		—		—		—		—		—


Total Other Consumer Loans	1,921		171		47		11		34		90		312		—		2,586
Gross charge-offs	—		40		45		—		—		1		—		—		86

Total Loans	508,688		1,861,869		1,655,831		661,923		643,275		2,046,749		412,191		426		7,790,952
Total gross charge-offs	$	—	$	43	$	273	$	34	$	2,313	$	568	$	—	$	—	$	3,231


	Loans by Year of Origination at December 31, 2022
	2022		2021		2020		2019		2018		Prior		Revolving Loans		Revolving Loans to Term Loans		Total
	(In thousands)
One-to-Four Family
Pass	$	829,363	$	836,355	$	294,721	$	177,114	$	125,057	$	595,097	$	—	$	—	$	2,857,707
Special mention	—		—		—		—		—		—		—		—		—
Substandard	—		641		—		681		320		835		—		—		2,477


Total One-to-Four family	829,363		836,996		294,721		177,795		125,377		595,932		—		—		2,860,184
Gross charge-offs	—		—		50		—		122		210		—		—		382

Multifamily
Pass	315,157		309,611		167,955		205,608		38,849		197,489		—		—		1,234,669
Special mention	—		—		—		—		—		4,538		—		—		4,538
Substandard	—		—		—		—		—		—		—		—		—


Total Multifamily	315,157		309,611		167,955		205,608		38,849		202,027		—		—		1,239,207
Gross charge-offs	—		—		—		—		—		—		—		—		—

Commercial Real Estate
Pass	448,313		392,689		170,125		260,268		231,868		852,104		—		—		2,355,367
Special mention	—		478		1,843		892		15,498		20,939		—		—		39,650
Substandard	—		—		1,286		1,607		—		15,484		—		—		18,377


Total Commercial Real Estate	448,313		393,167		173,254		262,767		247,366		888,527		—		—		2,413,394
Gross charge-offs	—		—		—		—		—		—		—		—		—

Construction
Pass	159,751		104,339		28,058		14,216		870		29,319		—		—		336,553
Special mention	—		—		—		—		—		—		—		—		—
Substandard	—		—		—		—		—		—		—		—		—


Total Construction	159,751		104,339		28,058		14,216		870		29,319		—		—		336,553
Gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—


	Loans by Year of Origination at December 31, 2022
	2022		2021		2020		2019		2018		Prior		Revolving Loans		Revolving Loans to Term Loans		Total
	(In thousands)
Commercial Business
Pass	$	58,631	$	32,880	$	32,788	$	20,705	$	24,634	$	27,277	$	280,857	$	—	$	477,772
Special mention	—		110		63		1,137		1,030		38		10,761		—		13,139
Substandard	—		224		60		—		2,085		315		3,874		—		6,558


Total Commercial Business	58,631		33,214		32,911		21,842		27,749		27,630		295,492		—		497,469
Gross charge-offs	—		—		—		143		29		18		—		—		190

Home Equity Loans and Advances
Pass	22,903		20,476		13,770		12,070		11,126		88,251		105,005		457		274,058
Special mention	—		—		—		—		—		—		—		—		—
Substandard	—		—		—		—		—		188		56		—		244


Total Home Equity Loans and Advances	22,903		20,476		13,770		12,070		11,126		88,439		105,061		457		274,302
Gross charge-offs	—		—		—		—		—		33		—		—		33

Other Consumer Loans
Pass	2,669		87		100		102		30		96		341		—		3,425
Special mention	—		—		—		—		—		—		—		—		—
Substandard	—		—		—		—		—		—		—		—		—


Total Other Consumer Loans	2,669		87		100		102		30		96		341		—		3,425
Gross charge-offs	10		18		—		—		—		5		—		—		33

Total Loans	1,836,787		1,697,890		710,769		694,400		451,367		1,831,970		400,894		457		7,624,534
Total gross charge-offs	$	10	$	18	$	50	$	143	$	151	$	266	$	—	$	—	$	638

The Company is required to include unfunded commitments that are expected to be funded in the future within the allowance calculation, other than those that are unconditionally cancellable. To arrive at that reserve, the reserve percentage for each applicable segment is applied to the unused portion of the expected commitment balance and is multiplied by the expected funding rate. To determine the expected funding rate, the Company uses a historical utilization rate for each segment. The allowance for credit losses for off-balance-sheet exposures is reported in other liabilities in the Consolidated Statements of Financial Condition. The liability represents an estimate of expected credit losses arising from off-balance-sheet exposures such as unfunded commitments. At September 30, 2023 and December 31, 2022, the balance of the allowance for credit losses on unfunded commitments, included in other liabilities, totaled $5.8 million and $7.0 million, respectively. The Company recorded a reversal of provision for credit losses on unfunded commitments, included in other non-interest expense in the Consolidated Statements of Income, of $520,000 and $1.2 million and $1.7 million and $1.6 million during the three and nine months ended September 30, 2023 and 2022, respectively.


	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
	(In thousands)
Allowance for Credit Losses:
Beginning balance	$	6,330	$	8,358	$	6,970	$	524
Impact of adopting ASU 2016-13 ("CECL") effective January 1, 2022	—		—		—		7,674
(Reversal of) provision for credit losses	(520)		(1,747)		(1,160)		(1,587)
Balance at end of period	$	5,810	$	6,611	$	5,810	$	6,611