
	March 31,		December 31,
	2024		2023
	(In thousands)
Real estate loans:
One-to-four family	$	2,778,932	$	2,792,833
Multifamily	1,429,369		1,409,187
Commercial real estate	2,318,178		2,377,077
Construction	437,566		443,094
Commercial business loans	538,260		533,041
Consumer loans:
Home equity loans and advances	260,786		266,632
Other consumer loans	2,601		2,801
Total gross loans	7,765,692		7,824,665
Purchased credit-deteriorated ("PCD") loans	14,945		15,089
Net deferred loan costs, fees and purchased premiums and discounts	34,992		34,783
Loans receivable	$	7,815,629	$	7,874,537

The Company had no loans held-for-sale at March 31, 2024 and December 31, 2023. During the three months ended March 31, 2024, the Company sold $236,000, $2.1 million, and $1.3 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 $185,000 and no gross losses.

During the three months ended March 31, 2023, the Company sold $9.8 million, $15.4 million, $9.4 million, and $580,000, of one-to-four family real estate loans, 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 $799,000 and $8,000 of gross losses.


	March 31, 2024
	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	$	8,736	$	3,293	$	3,455	$	15,484	$	5,287	$	2,763,448	$	2,778,932
Multifamily	1,111		—		—		1,111		—		1,428,258		1,429,369
Commercial real estate	5,762		—		1,942		7,704		8,456		2,310,474		2,318,178
Construction	—		—		—		—		—		437,566		437,566
Commercial business loans	3,650		3,949		876		8,475		8,990		529,785		538,260
Consumer loans:
Home equity loans and advances	682		—		187		869		202		259,917		260,786
Other consumer loans	—		—		—		—		—		2,601		2,601
Total loans	$	19,941	$	7,242	$	6,460	$	33,643	$	22,935	$	7,732,049	$	7,765,692


	December 31, 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	$	11,079	$	4,254	$	1,558	$	16,891	$	3,139	$	2,775,942	$	2,792,833
Multifamily	—		—		—		—		—		1,409,187		1,409,187
Commercial real estate	1,711		2,472		2,740		6,923		2,740		2,370,154		2,377,077
Construction	—		—		—		—		—		443,094		443,094
Commercial business loans	1,727		4,917		6,518		13,162		6,518		519,879		533,041
Consumer loans:
Home equity loans and advances	779		14		170		963		221		265,669		266,632
Other consumer loans	1		—		—		1		—		2,800		2,801
Total loans	$	15,297	$	11,657	$	10,986	$	37,940	$	12,618	$	7,786,725	$	7,824,665

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 March 31, 2024 and December 31, 2023, non-accrual loans totaled $22.9 million and $12.6 million, respectively. Included in non-accrual loans at March 31, 2024 and December 31, 2023, are 17 and 10 loans totaling $16.5 million and $1.6 million, respectively, which are less than 90 days in arrears.

Purchased credit-deteriorated loans ("PCD") 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. Loans acquired in a business combination 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 March 31, 2024 and December 31, 2023, PCD loans acquired in the Stewardship Financial Corporation ("Stewardship") acquisition totaled $1.6 million and $1.7 million, respectively, PCD loans acquired in the Freehold Bank acquisition totaled $2.8 million at both dates, and PCD loans acquired in the RSI Bank acquisition totaled $10.5 million and $10.6 million, respectively.

We may obtain physical possession of real estate collateralizing a residential mortgage loan via foreclosure or through an in-substance repossession. At March 31, 2024 and December 31, 2023, the Company had no real estate owned. At March 31, 2024 we had five residential mortgage loans with a carrying value of $1.4 million and two home equity loan with a carrying value of $155,000, collateralized by residential real estate, which were in the process of foreclosure. At December 31, 2023, we had one residential mortgage loan and one home equity loan with carrying value of 576,000 and $93,000, respectively, collateralized by residential real estate which were in the process of foreclosure.

The Company has 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 $33.7 million and $32.9 million at March 31, 2024 and December 31, 2023, respectively, and is excluded from the estimate of credit losses.

The determination of the allowance for credit losses (“ACL”) on loans is considered a critical accounting estimate by management because of the high degree of judgment involved in determining qualitative loss factors, the subjectivity of the assumptions used, and the potential for changes in the forecasted economic environment The ACL is maintained at a level management considers adequate to provide for estimated losses and impairment based upon an evaluation of known and inherent risk in the loan portfolio. The ACL consists of two elements: (1) identification of loans that must be individually analyzed for impairment and (2) establishment of an ACL for loans collectively analyzed.

Management estimates the ACL using relevant and reliable 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 its segment-specific peers provides the basis for the estimate of expected credit losses. Credit losses over a defined period are converted to PD rate curves through the use of segment-specific LGD 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 PD curves, together with corresponding economic conditions, establish a quantitative relationship between economic conditions and loan performance through an economic cycle.

Portfolio segments are 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 losses based on the type of borrower and collateral which is generally based upon federal call report segmentation. The segments have been combined or sub-segments have been added as needed to ensure loans of similar risk profiles are appropriately pooled.

We maintain a loan review system that provides a periodic review of the loan portfolio and the identification of individually analyzed loans. The ACL for individually analyzed loans is based on the fair value of collateral or cash flows. While management uses the best information available to make such evaluations, future adjustments to the allowance may be necessary if economic conditions differ substantially from the assumptions used in making the evaluations.

The ACL quantitative allowance for each segment is measured using a discounted cash flow methodology incorporating an econometric, probability of default (“PD”) and loss given default (“LGD”) with distinct segment-specific multi-variate regression models applied. Expected credit losses are estimated over the 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 the modeled cash flows, adjusted for model defaults and expected prepayments and discounted at the loan-level effective interest rate. The contractual term excludes expected extensions, renewals, and modifications.

Using the historical relationship between economic conditions and loan performance, management’s expectation of future loan performance is incorporated using a single economic forecast of macroeconomic variables (i.e., unemployment, gross domestic product, vacancy, and home price index). 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 reverts to long-term average historical loss rates using a straight-line, time-based methodology. The Company's current forecast period is six quarters, with a four-quarter reversion period to long-term average historical loss rates.

After quantitative considerations, management applies additional qualitative adjustments that consider the expected impact of certain factors not fully captured in the quantitative reserve. Qualitative adjustments include but are not limited to concentrations of large loan balances, delinquency trends, change in collateral values within segments, and other considerations.

The ACL is established through the provision for credit losses that are charged to income, which is based upon an evaluation of estimated losses in the current loan portfolio, including the evaluation of individually analyzed loans. Charge-offs against the ACL 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 ACL. Although we believe we have established and maintained the ACL on loans at appropriate levels, changes in reserves may be necessary if actual economic and other conditions differ substantially from the forecast used in estimating the ACL.

Our financial results are affected by the changes in and the level of the ACL. This process involves our analysis of internal and external variables, and it requires that we exercise judgment to estimate an appropriate ACL. As a result of the uncertainty associated with this subjectivity, we cannot assure the precision of the amount reserved, should we experience sizable loan losses in any particular period and/or significant changes in assumptions or economic condition. We believe the primary risks inherent in the portfolio are a general decline in the economy, a decline in real estate market values, rising unemployment, increasing vacancy rates, and increases in interest rates in the absence of economic improvement or any other such factors. 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, we have recorded loan credit losses at a level which is estimated to represent the current risk in its loan portfolio.

Most of our non-performing assets are collateral dependent loans which are written down to the fair value of the collateral less estimated costs to sell. We continue to assess the collateral of these loans and update our appraisals on these loans on an annual basis. To the extent the property values decline, there could be additional losses on these non-performing assets, which may be material. Management considered these market conditions in deriving the estimated ACL. Should economic difficulties occur, the ultimate amount of loss could vary from our current estimate.


	March 31, 2024
	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	$	35	$	—	$	226	$	—	$	98	$	—	$	—	$	359
Collectively analyzed loans	13,800		8,670		14,947		8,068		7,611		1,872		7		54,975
Loans acquired with deteriorated credit quality	5		—		59		—		2		1		—		67
Total	$	13,840	$	8,670	$	15,232	$	8,068	$	7,711	$	1,873	$	7	$	55,401

Total loans:
Individually analyzed loans	$	1,728	$	46	$	9,695	$	—	$	9,115	$	110	$	—	$	20,694
Collectively analyzed loans	2,777,204		1,429,323		2,308,483		437,566		529,145		260,676		2,601		7,744,998
Loans acquired with deteriorated credit quality	1,873		—		12,591		—		344		137		—		14,945
Total loans	$	2,780,805	$	1,429,369	$	2,330,769	$	437,566	$	538,604	$	260,923	$	2,601	$	7,780,637


	December 31, 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	$	7	$	237	$	—	$	154	$	30	$	—	$	614
Collectively analyzed loans	12,827		8,735		15,378		7,758		7,742		1,862		7		54,309
Loans acquired with deteriorated credit quality	4		—		142		—		27		—		—		173
Total	$	13,017	$	8,742	$	15,757	$	7,758	$	7,923	$	1,892	$	7	$	55,096

Total loans:
Individually analyzed loans	$	4,063	$	382	$	15,360	$	—	$	11,550	$	601	$	—	$	31,956
Collectively analyzed loans	2,788,770		1,408,805		2,361,717		443,094		521,491		266,031		2,801		7,792,709
Loans acquired with deteriorated credit quality	1,893		—		12,689		—		369		138		—		15,089
Total loans	$	2,794,726	$	1,409,187	$	2,389,766	$	443,094	$	533,410	$	266,770	$	2,801	$	7,839,754

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.

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 for the three months ended March 31, 2024.


	December 31, 2023
	Current		30-59 Days		60-89 Days		90 Days or More		Non-accrual		Total
	(In thousands)
Commercial real estate	$	1,035	$	—	$	—	$	—	$	—	$	1,035
Construction	2,317		—		—		—		—		2,317
Commercial business	—		—		4,917		—		237		5,154
Total loans	$	3,352	$	—	$	4,917	$	—	$	237	$	8,506


	For the Three Months Ended March 31,
	One-to-Four Family		Multifamily		Commercial Real Estate		Construction		Commercial Business		Home Equity Loans and Advances		Other Consumer Loans		Totals
	(In thousands)
2024
Balance at beginning of period	$	13,017	$	8,742	$	15,757	$	7,758	$	7,923	$	1,892	$	7	$	55,096

Provision for (reversal of) credit losses	825		(72)		(525)		309		4,665		(24)		100		5,278
Recoveries	—		—		—		1		143		5		—		149
Charge-offs	(2)		—		—		—		(5,020)		—		(100)		(5,122)
Balance at end of period	$	13,840	$	8,670	$	15,232	$	8,068	$	7,711	$	1,873	$	7	$	55,401

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	1,121		268		(1,768)		314		272		(61)		29		175
Recoveries	—		—		—		—		151		20		5		176
Charge-offs	(134)		—		(86)		—		—		(26)		(35)		(281)
Balance at end of period	$	12,789	$	8,145	$	16,257	$	6,739	$	7,320	$	1,614	$	9	$	52,873


	At March 31, 2024
	Recorded Investment		Unpaid Principal Balance		Specific Allowance
	(In thousands)
With no allowance recorded:
Real estate loans:
One-to-four family	$	1,139	$	1,423	$	—
Multifamily	46		50		—
Commercial real estate	1,942		2,908		—

Commercial business loans	4,865		4,865		—
Consumer loans:
Home equity loans and advances	110		128		—
	8,102		9,374		—
With a specific allowance recorded:
Real estate loans:
One-to-four family	589		589		35

Commercial real estate	7,753		8,412		226

Commercial business loans	4,250		4,249		98


	12,592		13,250		359
Total:
Real estate loans:
One-to-four family	1,728		2,012		35
Multifamily	46		50		—
Commercial real estate	9,695		11,320		226

Commercial business loans	9,115		9,114		98
Consumer loans:
Home equity loans and advances	110		128		—
Total loans	$	20,694	$	22,624	$	359


	At December 31, 2023
	Recorded Investment		Unpaid Principal Balance		Specific Allowance
	(In thousands)
With no allowance recorded:
Real estate loans:
One-to-four family	$	1,170	$	1,519	$	—
Multifamily	49		52		—
Commercial real estate	12,741		14,364		—

Commercial business loans	5,814		6,764		—
Consumer loans:
Home equity loans and advances	145		163		—
	19,919		22,862		—
With a specific allowance recorded:
Real estate loans:
One-to-four family	2,893		2,911		186
Multifamily	333		333		7
Commercial real estate	2,619		2,622		237

Commercial business loans	5,736		5,736		154
Consumer loans:
Home equity loans and advances	456		456		30
	12,037		12,058		614
Total:
Real estate loans:
One-to-four family	4,063		4,430		186
Multifamily	382		385		7
Commercial real estate	15,360		16,986		237

Commercial business loans	11,550		12,500		154
Consumer loans:
Home equity loans and advances	601		619		30
	$	31,956	$	34,920	$	614

Specific allocations of the allowance for credit losses attributable to individually analyzed loans totaled $359,000 and $614,000 at March 31, 2024 and December 31, 2023, respectively. At March 31, 2024 and December 31, 2023, impaired loans for which there was no related allowance for credit losses totaled $8.1 million and $19.9 million, respectively.


	For the Three Months Ended March 31,
	2024				2023
	Average Recorded Investment		Interest Income Recognized		Average Recorded Investment		Interest Income Recognized
	(In thousands)
Real estate loans:
One-to-four family	$	2,896	$	13	$	4,459	$	45
Multifamily	214		1		448		5
Commercial real estate	12,528		20		16,252		151

Commercial business loans	10,333		—		1,904		49
Consumer loans:
Home equity loans and advances	356		1		688		7
Total loans	$	26,327	$	35	$	23,751	$	257

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 March 31, 2024
	2024		2023		2022		2021		2020		Prior		Revolving Loans		Revolving Loans to Term Loans		Total
	(In thousands)
One-to-Four Family
Pass	$	22,636	$	157,523	$	785,252	$	783,100	$	267,209	$	757,084	$	—	$	—	$	2,772,804
Special mention	—		—		—		—		—		—		—		—		—
Substandard	—		751		1,398		1,064		291		2,624		—		—		6,128


Total One-to-Four Family	22,636		158,274		786,650		784,164		267,500		759,708		—		—		2,778,932
Gross charge-offs	—		—		—		—		—		2		—		—		2

Multifamily
Pass	—		117,242		320,866		365,098		169,203		452,444		—		—		1,424,853
Special mention	—		—		—		—		—		4,516		—		—		4,516
Substandard	—		—		—		—		—		—		—		—		—


Total Multifamily	—		117,242		320,866		365,098		169,203		456,960		—		—		1,429,369
Gross charge-offs	—		—		—		—		—		—		—		—		—

Commercial Real Estate
Pass	13,969		182,962		431,612		362,730		164,245		1,105,621		—		—		2,261,139
Special mention	—		—		—		463		—		22,285		—		—		22,748
Substandard	—		—		5,743		—		1,793		26,755		—		—		34,291


Total Commercial Real Estate	13,969		182,962		437,355		363,193		166,038		1,154,661		—		—		2,318,178
Gross charge-offs	—		—		—		—		—		—		—		—		—

Construction
Pass	6,343		119,856		251,745		59,622		—		—		—		—		437,566
Special mention	—		—		—		—		—		—		—		—		—
Substandard	—		—		—		—		—		—		—		—		—


Total Construction	6,343		119,856		251,745		59,622		—		—		—		—		437,566
Gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—


	Loans by Year of Origination at March 31, 2024
	2024		2023		2022		2021		2020		Prior		Revolving Loans		Revolving Loans to Term Loans		Total
	(In thousands)
Commercial Business
Pass	$	16,089	$	59,522	$	56,408	$	27,402	$	25,746	$	50,048	$	274,391	$	—	$	509,606
Special mention	—		—		—		—		66		931		1,878		—		2,875
Substandard	—		392		452		83		56		7,914		16,484		—		25,381
Doubtful	—		—		—		—		—		398		—		—		398

Total Commercial Business	16,089		59,914		56,860		27,485		25,868		59,291		292,753		—		538,260
Gross charge-offs	—		—		—		2,352		—		2,668		—		—		5,020

Home Equity Loans and Advances
Pass	3,939		19,264		20,289		17,744		10,997		89,436		32,577		66,338		260,584
Special mention	—		—		—		—		—		—		—		—		—
Substandard	—		—		—		—		—		202		—		—		202


Total Home Equity Loans and Advances	3,939		19,264		20,289		17,744		10,997		89,638		32,577		66,338		260,786
Gross charge-offs	—		—		—		—		—		—		—		—		—

Other Consumer Loans
Pass	1,932		133		134		18		3		74		307		—		2,601
Special mention	—		—		—		—		—		—		—		—		—
Substandard	—		—		—		—		—		—		—		—		—


Total Other Consumer Loans	1,932		133		134		18		3		74		307		—		2,601
Gross charge-offs	—		24		52		22		—		2		—		—		100

Total Loans	64,908		657,645		1,873,899		1,617,324		639,609		2,520,332		325,637		66,338		7,765,692
Total gross charge-offs	$	—	$	24	$	52	$	2,374	$	—	$	2,672	$	—	$	—	$	5,122


	Loans by Year of Origination at December 31, 2023
	2023		2022		2021		2020		2019		Prior		Revolving Loans		Revolving Loans to Term Loans		Total
	(In thousands)
One-to-Four Family
Pass	$	156,279	$	786,735	$	793,074	$	272,215	$	165,337	$	614,351	$	—	$	—	$	2,787,991
Special mention	—		—		—		—		—		—		—		—		—
Substandard	—		1,176		769		283		629		1,985		—		—		4,842


Total One-to-Four family	156,279		787,911		793,843		272,498		165,966		616,336		—		—		2,792,833
Gross charge-offs	—		208		197		—		29		151		—		—		585

Multifamily
Pass	111,612		317,277		359,983		157,294		202,923		255,578		—		—		1,404,667
Special mention	—		—		—		—		—		4,520		—		—		4,520
Substandard	—		—		—		—		—		—		—		—		—


Total Multifamily	111,612		317,277		359,983		157,294		202,923		260,098		—		—		1,409,187
Gross charge-offs	—		—		—		—		—		—		—		—		—

Commercial Real Estate
Pass	191,030		422,058		371,578		174,705		236,263		930,740		—		—		2,326,374
Special mention	—		—		465		—		871		24,405		—		—		25,741
Substandard	—		5,743		905		1,799		—		16,515		—		—		24,962


Total Commercial Real Estate	191,030		427,801		372,948		176,504		237,134		971,660		—		—		2,377,077
Gross charge-offs	—		—		—		—		64		86		—		—		150

Construction
Pass	99,634		270,397		65,374		4,933		439		2,317		—		—		443,094
Special mention	—		—		—		—		—		—		—		—		—
Substandard	—		—		—		—		—		—		—		—		—


Total Construction	99,634		270,397		65,374		4,933		439		2,317		—		—		443,094
Gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—


	Loans by Year of Origination at December 31, 2023
	2023		2022		2021		2020		2019		Prior		Revolving Loans		Revolving Loans to Term Loans		Total
	(In thousands)
Commercial Business
Pass	$	67,529	$	58,118	$	28,989	$	27,194	$	15,499	$	38,954	$	272,698	$	—	$	508,981
Special mention	127		303		—		97		14		1,389		4,587		—		6,517
Substandard	—		76		88		6		1,081		6,150		10,142		—		17,543


Total Commercial Business	67,656		58,497		29,077		27,297		16,594		46,493		287,427		—		533,041
Gross charge-offs	—		—		31		34		2,249		304		—		—		2,618

Home Equity Loans and Advances
Pass	20,198		20,713		18,139		11,368		9,877		84,261		37,261		64,558		266,375
Special mention	—		—		—		—		—		—		—		—		—
Substandard	—		—		—		—		—		257		—		—		257


Total Home Equity Loans and Advances	20,198		20,713		18,139		11,368		9,877		84,518		37,261		64,558		266,632
Gross charge-offs	—		—		—		—		—		26		—		—		26

Other Consumer Loans
Pass	2,199		151		38		6		18		68		321		—		2,801
Special mention	—		—		—		—		—		—		—		—		—
Substandard	—		—		—		—		—		—		—		—		—


Total Other Consumer Loans	2,199		151		38		6		18		68		321		—		2,801
Gross charge-offs	—		61		52		—		—		2		—		—		115

Total Loans	648,608		1,882,747		1,639,402		649,900		632,951		1,981,490		325,009		64,558		7,824,665
Total gross charge-offs	$	—	$	269	$	280	$	34	$	2,342	$	569	$	—	$	—	$	3,494

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 March 31, 2024 and December 31, 2023, the balance of the allowance for credit losses on unfunded commitments, included in other liabilities, totaled $4.7 million and $5.5 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 $830,000 and $528,000 during the three months ended March 31, 2024 and 2023, respectively.