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Loan Portfolio and Allowance for Credit Losses (Tables)
 6 Months Ended
Jun. 30, 2023
Loan Portfolio and Allowance for Credit Losses [Abstract]  
Recorded Investment in Loans by Portfolio Segment
The following table presents loans by portfolio segment:

 
  
June 30, 2023
  
(dollars in thousands)  
New York and
              

 
other states*
    
Florida
    
Total
  
Commercial:
                  
Commercial real estate
  
$
190,361
     $
39,187
     $
229,548
  
Other
    
21,566
      
320
     $
21,886
  
Real estate mortgage - 1 to 4 family:
                        
First mortgages
    
2,755,040
      
1,497,104
     $
4,252,144
  
Home equity loans
    
44,841
      
13,020
     $
57,861
  
Home equity lines of credit
    
198,067
      
110,909
     $
308,976
  
Installment
    
12,035
      
4,361
     $
16,396
  
Total loans, net
  
$
3,221,910
     $
1,664,901
      
4,886,811
  
Less: Allowance for credit losses
                    
46,914
  
Net loans
                  
$
4,839,897
  

*Includes New York, New Jersey, Vermont and Massachussetts.

 
  
December 31, 2022
  
(dollars in thousands)  
New York and
              

 
other states*
    
Florida
    
Total
  
Commercial:
                  
Commercial real estate
  
$
177,371
     $
32,551
     $
209,922
  
Other
    
20,221
      
868
      
21,089
  
Real estate mortgage - 1 to 4 family:
                        
First mortgages
    
2,776,989
      
1,369,913
      
4,146,902
  
Home equity loans
    
43,999
      
12,550
      
56,549
  
Home equity lines of credit
    
191,926
      
94,506
      
286,432
  
Installment
    
9,408
      
2,899
      
12,307
  
Total loans, net
  
$
3,219,914
     $
1,513,287
      
4,733,201
  
Less: Allowance for credit losses
                    
46,032
  
Net loans
                  
$
4,687,169
  

*Includes New York, New Jersey, Vermont and Massachussetts.
Activity in Allowance For Credit Losses on Loans by Portfolio Segment
Activity in the allowance for credit losses on loans by portfolio segment for the three months ended June 30, 2023 and 2022 is summarized as follows:


  
For the three months ended June 30, 2023
  
(dollars in thousands)        
Real Estate
              
         
Mortgage-
              

 
Commercial
    
1 to 4 Family
    
Installment
    
Total
  
Balance at beginning of period   $ 2,708     $ 43,766     $ 211     $ 46,685  
Loans charged off:
                                
New York and other states*
    
-
      
22
      
29
      
51
  
Florida
    
-
      
-
      
40
      
40
  
Total loan chargeoffs
    
-
      
22
      
69
      
91
  
                                 
Recoveries of loans previously charged off:
                                
New York and other states*
    
129
      
183
      
8
      
320
  
Florida
    
-
      
-
      
-
      
-
  
Total recoveries
    
129
      
183
      
8
      
320
  
Net loans (recoveries) charged off
   
(129
)
    
(161
)
    
61
      
(229
)
(Credit) provision for credit losses
    
(227
)
    
140
      
87
      
-
  
Balance at end of period
  
$
2,610
    
$
44,067
    
$
237
    
$
46,914
  

* Includes New York, New Jersey, Vermont and Massachusetts.

   
For the three months ended June 30, 2022
  
(dollars in thousands)        
Real Estate
              
         
Mortgage-
              

 
Commercial
    
1 to 4 Family
    
Installment
    
Total
  
Balance at beginning of period
  
$
2,177
      
43,931
      
70
      
46,178
  
Loans charged off:
                                
New York and other states*
    
4
      
12
      
14
      
30
  
Florida
    
-
      
-
      
-
      
-
  
Total loan chargeoffs
    
4
      
12
      
14
      
30
  
                                 
Recoveries of loans previously charged off:
                                
New York and other states*
    
4
      
131
      
2
      
137
  
Florida
    
-
      
-
      
-
      
-
  
Total recoveries
    
4
      
131
      
2
      
137
  
Net loan recoveries
    
-
      
(119
)
    
12
      
(107
)
(Credit) provision for credit losses
    
97
      
(1,170
)
    
73
      
(1,000
)
Balance at end of period
  
$
2,274
      
42,880
      
131
      
45,285
  

* Includes New York, New Jersey, Vermont and Massachusetts.
Activity in the allowance for credit losses on loans by portfolio segment for the six months ended June 30, 2023 and 2022 is summarized as follows:

   
For the six months ended June 30, 2023
  
(dollars in thousands)
        
Real Estate
              
         
Mortgage-
              
   
Commercial
    
1 to 4 Family
    
Installment
    
Total
  
Balance at beginning of period
  
$
2,596
     $
43,271
     $
165
     $
46,032
  
Loans charged off:
                                
New York and other states*
    
-
      
22
      
46
      
68
  
Florida
    
-
      
-
      
71
      
71
  
Total loan chargeoffs
  

-
    

22
    

117
    

139
  
                                 
Recoveries of loans previously charged off:
                                
New York and other states*
    
129
      
236
      
31
      
396
  
Florida
    
-
      
25
      
-
      
25
  
Total recoveries
    
129
      
261
      
31
      
421
  
Net loans (recoveries) charged off
    
(129
)
    
(239
)
    
86
      
(282
)
(Credit) provision for credit losses
    
(115
)
    
557
      
158
      
600
  
Balance at end of period
  
$
2,610
     $
44,067
     $
237
     $
46,914
  

* Includes New York, New Jersey, Vermont and Massachusetts.

   
For the six months ended June 30, 2022
  
(dollars in thousands)
        
Real Estate
              
         
Mortgage-
              
   
Commercial
    
1 to 4 Family
    
Installment
    
Total
  
Balance at beginning of period
  
$
3,135
      
40,689
      
443
      
44,267
  
Impact of ASU 2016-13, Current Expected Credit Loss (CECL)
   $ (986 )     3,717       (378 )     2,353  
Balance as of January 1, 2022 as adjuste dfor ASU 2016-13
   $ 2,149       44,406       65       46,620  
Loans charged off:
                                
New York and other states*
    
40
      
12
      
25
      
77
  
Florida
    
-
      
-
      
-
      
-
  
Total loan chargeoffs
    
40
      
12
      
25
      
77
  
                                 
Recoveries of loans previously charged off:
                                
New York and other states*
    
4
      
228
      
10
      
242
  
Florida
    
-
      
-
      
-
      
-
  
Total recoveries
    
4
      
228
      
10
      
242
  
Net loan recoveries
    
36
      
(216
)
    
15
      
(165
)
(Credit) provision for loan losses
    
161
      
(1,742
)
    
81
      
(1,500
)
Balance at end of period
  
$
2,274
      
42,880
      
131
      
45,285
  

* Includes New York, New Jersey, Vermont and Massachusetts.
Allowance For Credit Losses and Recorded Investment in Loans by Portfolio Segment and Based on Impairment Method
The following tables present the balance in the allowance for credit losses on loans by portfolio segment and based on impairment evaluation as of June 30, 2023 and December 31, 2022:

   
As of June 30, 2023
  
(dollars in thousands)        
1-to-4 Family
              
   
Commercial
      Residential      Installment        

 
Loans
    
Real Estate
    
Loans
    
Total
  
Allowance for credit losses on loans:
                        
Ending allowance balance attributable to loans:
                        
Individually evaluated for impairment
  
$
-
     $
-
     $
-
     $
-
  
Collectively evaluated for impairment
    
2,610
      
44,067
      
237
      
46,914
  
                                 
Total ending allowance balance
  
$
2,610
     $
44,067
     $
237
     $
46,914
  
                                 
Loans:
                                
Individually evaluated for impairment
  
$
970
     $
25,546
     $
112
     $
26,628
  
Collectively evaluated for impairment
    
250,464
      
4,593,435
      
16,284
      
4,860,183
  
                                 
Total ending loans balance
  
$
251,434
     $
4,618,981
     $
16,396
     $
4,886,811
  

   
December 31, 2022
  
(dollars in thousands)        
1-to-4 Family
              
     Commercial      Residential      Installment        

 
Loans
    
Real Estate
    
Loans
    
Total
  
Allowance for credit losses on loans:
                        
Ending allowance balance attributable to loans:
                        
Individually evaluated for impairment
  
$
-
      
-
      
-
      
-
  
Collectively evaluated for impairment
    
2,596
      
43,271
      
165
      
46,032
  
                                 
Total ending allowance balance
  
$
2,596
      
43,271
      
165
      
46,032
  
                                 
Loans:
                                
Individually evaluated for impairment
  
$
646
      
24,967
      
82
      
25,695
  
Collectively evaluated for impairment
    
230,365
      
4,464,916
      
12,225
      
4,707,506
  
                                 
Total ending loans balance
  
$
231,011
      
4,489,883
      
12,307
      
4,733,201
  
Allowance for Credit Losses on Unfunded Commitments
The Company’s activity in the allowance for credit losses on unfunded commitments for the three and six months ended June 30, 2023 and 2022 were as follows:

(In thousands)  
For the three
months ended
June 30, 2023
  
Balance at March 31, 2023  
$
2,612
  
Credit provision for credit losses    
(500
)
Balance at June 30, 2023  
$
2,112
  

(In thousands)  
For the six
months ended
June 30, 2023
  
Balance at January 1, 2023  
$
2,912
  
Credit provision for credit losses    
(800
)
Balance at June 30, 2023  
$
2,112
  

(In thousands)  
For the three
months ended
June 30, 2022
  
Balance at March 31, 2022  
$
2,653
  
Provision for credit losses    
509
  
Balance at June 30, 2022  
$
3,162
  

   
 
(In thousands)
  
For the six
months ended
June 30, 2022
  
Balance at January 1, 2022
  
$
18
  
Impact of Adopting CECL
    
2,335
  
Adjusted Balance at January 1, 2022
   $
2,353
  
Provision for credit losses
    
809
  
Balance at June 30, 2022
  
$
3,162
  
Risk Category Loans by Class of Loans
As of June 30, 2023, and December 31, 2022 and based on the most recent analysis performed, the risk category of loans by class of loans, and gross charge-offs year to date for each loan type by origination year was as follows:

(in thousands)
   As of June 30, 2023  

 
Term Loans Amortized Cost Basis by Origination Year
  
   
2023
    
2022
    
2021
    
2020
    
2019
    
Prior
    
Revolving
Loans
Amortized
Cost Basis
    
Revolving
Loan
Converted to Term
    
Total
  
Commercial :
                                                      
Risk rating
                                                      
Pass
  
$
30,169
    
$
82,912
    
$
25,662
    
$
17,642
    
$
20,990
    
$
43,174
    
$
7,171
    
$
-
    
$
227,720
  
Special Mention
    
-
      
-
      
-
      
53
      
-
      
234
      
-
      
-
      
287
  
Substandard
    
-
      
-
      
-
      
110
      
-
      
1,431
      
-
      
-
      
1,541
  
Total Commercial Loans
  
$
30,169
    
$
82,912
    
$
25,662
    
$
17,805
    
$
20,990
    
$
44,839
    
$
7,171
    
$
-
    
$
229,548
  
Commercial Loans:
                                                                        
Current-period Gross writeoffs
  
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
  
   
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
  
Commercial Other:
                                                                        
Risk rating
                                                                        
Pass
  
$
3,062
    
$
4,085
    
$
2,394
    
$
1,783
    
$
510
    
$
2,692
    
$
6,931
    
$
-
    
$
21,457
  
Special mention
    
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
  
Substandard
    
-
      
-
      
331
      
-
      
-
      
98
      
-
      
-
      
429
  
Total Commercial Real Estate Loans
  
$
3,062
    
$
4,085
    
$
2,725
    
$
1,783
    
$
510
    
$
2,790
    
$
6,931
    
$
-
    
$
21,886
  
                                                                         
Other Commercial Loans:
                                                                        
Current-period Gross writeoffs
  
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
     $
-
  
   
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
  
                                                                         
Residential First Mortgage:
                                                                        
Risk rating
                                                                        
Performing
  
$
229,280
    
$
574,375
    
$
905,759
    
$
757,908
    
$
354,492
    
$
1,412,169
    
$
2,446
    
$
-
    
$
4,236,429
  
Nonperforming
    
-
      
-
      
391
      
603
      
1,294
      
13,427
      
-
      
-
      
15,715
  
Total First Mortgage:
  
$
229,280
    
$
574,375
    
$
906,150
    
$
758,511
    
$
355,786
    
$
1,425,596
    
$
2,446
    
$
-
    
$
4,252,144
  
                                                                         
Residential First Mortgage Loans:
                                                                        
Current-period Gross writeoffs
  
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
22
    
$
-
    
$
-
     $
22
  
   
$
-
    

-
    

-
    

-
    

-
    

22
    

-
    

-
    
$
22
  
                                                                         
Home Equity Lines:
                                                                        
Risk rating
                                                                        
Performing
  
$
5,673
    
$
6,384
    
$
8,452
    
$
6,028
    
$
7,059
    
$
23,979
    
$
-
    
$
-
    
$
57,575
  
Nonperforming
    
-
      
-
      
-
      
-
      
-
      
286
      
-
      
-
      
286
  
Total Home Equity Lines:
  
$
5,673
    
$
6,384
    
$
8,452
    
$
6,028
    
$
7,059
    
$
24,265
    
$
-
    
$
-
    
$
57,861
  
                                                                         
Home Equity Loans:
                                                                        
Current-period Gross writeoffs
  
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
     $
-
  
   
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
  
Home Equity Lines of Credit:
                                                                        
Risk rating
                                                                        
Performing
  
$
781
    
$
770
    
$
409
    
$
529
    
$
42
    
$
16,861
    
$
287,155
    
$
-
    
$
306,547
  
Nonperforming
    
-
      
-
      
-
      
-
      
-
      
2,121
      
308
      
-
      
2,429
  
Total Home Equity Credit Lines:
  
$
781
    
$
770
    
$
409
    
$
529
    
$
42
    
$
18,982
    
$
287,463
    
$
-
    
$
308,976
  
                                                                         
Home Equity Lines of Credit:
                                                                        
Current-period Gross writeoffs
  
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
     $
-
  
   
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
  
Installments:
                                                                        
Risk rating
                                                                        
Performing
  
$
5,970
    
$
5,683
    
$
1,888
    
$
550
    
$
404
    
$
745
    
$
1,032
    
$
-
    
$
16,272
  
Nonperforming
    
1
      
-
      
48
      
-
      
73
      
2
      
-
      
-
      
124
  
Total Installments
  
$
5,971
    
$
5,683
    
$
1,936
    
$
550
    
$
477
    
$
747
    
$
1,032
    
$
-
    
$
16,396
  
                                                                         
Installments Loans:
                                                                        
Current-period Gross writeoffs
  
$
-
    
$
57
    
$
37
    
$
6
    
$
-
    
$
17
    
$
-
    
$
-
     $
117
  
   
$
-
    
$
57
     $
37
    
$
6
    
$
-
    
$
17
    
$
-
    
$
-
    
$
117
  

(in thousands)
  
As of December 31, 2022
  
   
Term Loans Amortized Cost Basis by Origination Year
  
Commercial :
  
2022
    
2021
    
2020
    
2019
    
2018
    
Prior
    
Revolving Loans Amortized Cost Basis
    
Revolving Loan Converted to Term
    
Total
  
Risk rating
                                                      
Pass
  
$
79,430
    
$
29,991
    
$
18,708
    
$
22,790
    
$
16,598
    
$
32,666
    
$
8,022
    
$
-
    
$
208,205
  
Special Mention
    
-
      
-
      
62
      
-
      
243
      
-
      
-
      
-
      
305
  
Substandard
    
-
      
-
      
113
      
-
      
128
      
1,171
      
-
      
-
      
1,412
  
Total Commercial Loans
  
$
79,430
    
$
29,991
    
$
18,883
    
$
22,790
    
$
16,969
    
$
33,837
    
$
8,022
    
$
-
    
$
209,922
  

                                                                       
Commercial Loans:                                                                        
Current-period Gross writeoffs
  
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
40
    
$
-
    
$
-
    
$
40
  

 
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
40
    
$
-
    
$
-
    
$
40
  
                                                                         
Commercial Other:
                                                                        
Risk rating
                                                                        
Pass
  
$
2,972
    
$
2,848
    
$
2,273
    
$
590
    
$
674
    
$
2,348
    
$
8,908
    

-
    
$
20,613
  
Special mention
    
-
      
-
      
-
      
-
      
-
      
-
      
39
      
-
      
39
  
Substandard
    
-
      
339
      
-
      
-
      
-
      
98
      
-
      
-
      
437
  
Total Commercial Real Estate Loans
  
$
2,972
    
$
3,187
    
$
2,273
    
$
590
    
$
674
    
$
2,446
    
$
8,947
    
$
-
    
$
21,089
  
                                                                         
Other Commercial Loans:
                                                                       
Current-period Gross writeoffs
  
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
      
-
  

 
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
  
                                                                         
Residential First Mortgage:
                                                                        
Risk rating
                                                                        
Performing
  
$
557,981
    
$
933,754
    
$
784,511
    
$
368,137
    
$
257,926
    
$
1,228,776
    
$
1,472
    
$
-
    
$
4,132,557
  
Nonperforming
    
-
      
496
      
81
      
844
      
351
      
12,573
      
-
      
-
      
14,345
  
Total First Mortgage:
  
$
557,981
    
$
934,250
    
$
784,592
    
$
368,981
    
$
258,277
    
$
1,241,349
    
$
1,472
    
$
-
    
$
4,146,902
  

                                                                       
Residential First Mortgage Loans:                                                                        
Current-period Gross writeoffs
  
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
5
    
$
-
    
$
-
      
5
  

 
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
5
    
$
-
    
$
-
    
$
5
  
                                                                         
Home Equity Lines:
                                                                        
Risk rating
                                                                        
Performing
  
$
6,863
    
$
9,124
    
$
6,322
    
$
7,588
    
$
5,240
    
$
21,217
    
$
-
    
$
-
    
$
56,354
  
Nonperforming
    
-
      
-
      
-
      
-
      
66
      
129
      
-
      
-
      
195
  
Total Home Equity Lines:
  
$
6,863
    
$
9,124
    
$
6,322
    
$
7,588
    
$
5,306
    
$
21,346
    
$
-
    
$
-
    
$
56,549
  

                                                                       
Home Equity Lines Loans:                                                                        
Current-period Gross writeoffs
  
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
      
-
  

 
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
  
                                                                         
Home Equity Credit Lines:
                                                                        
Risk rating
                                                                        
Performing
  
$
1,369
    
$
1,246
    
$
740
    
$
52
    
$
100
    
$
18,377
    
$
262,244
    
$
-
    
$
284,128
  
Nonperforming
    
-
      
7
      
-
      
-
      
-
      
2,111
      
186
      
-
      
2,304
  
Total Home Equity Credit Lines:
  
$
1,369
    
$
1,253
    
$
740
    
$
52
    
$
100
    
$
20,488
    
$
262,430
    
$
-
    
$
286,432
  

                                                                       
Home Equity Credit Lines Loans:                                                                        
Current-period Gross writeoffs
  
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
19
    
$
-
    
$
-
      
19
  

 
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
19
    
$
-
    
$
-
    
$
19
  
                                                                         
Installments:
                                                                        
Risk rating
                                                                        
Performing
  
$
6,385
    
$
2,495
    
$
805
    
$
709
    
$
374
    
$
308
    
$
1,125
    
$
-
    
$
12,201
  
Nonperforming
    
20
      
17
      
-
      
65
      
-
      
1
      
3
      
-
      
106
  
Total Installments
  
$
6,405
    
$
2,512
    
$
805
    
$
774
    
$
374
    
$
309
    
$
1,128
    
$
-
    
$
12,307
  

                                                                       
Installments Loans:                                                                        
Current-period Gross writeoffs
  
$
1
    
$
47
    
$
22
    
$
7
    
$
2
    
$
9
    
$
-
    
$
-
      
88
  

 
$
1
    
$
47
    
$
22
    
$
7
    
$
2
    
$
9
    
$
-
    
$
-
    
$
88
  
Aging of Recorded Investment in Past Due Loans by Loan Class and by Region
The following tables present the aging of the amortized cost in past due loans by loan class and by region as of June 30,2023:

   
As of June 30, 2023
  
New York and other states*:
                                    
   
30-59
    
60-89
    
90 +
      Total              
     Days      Days      Days    
30+ days
            Total  
(dollars in thousands)
  
Past Due
    
Past Due
    
Past Due
    
Past Due
    
Current
    
Loans
  
                                     
Commercial:
                                    
Commercial real estate
  
$
-
      
-
      
525
      
525
      
189,836
      
190,361
  
Other
    
33
      
8
      
-
      
41
      
21,525
      
21,566
  
Real estate mortgage - 1 to 4 family:
                                                
First mortgages
    
2,681
      
227
      
8,352
      
11,260
      
2,743,780
      
2,755,040
  
Home equity loans
    
65
      
96
      
158
      
319
      
44,522
      
44,841
  
Home equity lines of credit
    
574
      
25
      
656
      
1,255
      
196,812
      
198,067
  
Installment
    
37
      
45
      
66
      
148
      
11,887
      
12,035
  
                                                 
Total
  
$
3,390
      
401
      
9,757
      
13,548
      
3,208,362
      
3,221,910
  

Florida:
                                    
   
30-59
    
60-89
    
90 +
      Total              
    Days     Days     Days    
30+ days
           Total  
(dollars in thousands)
  
Past Due
    
Past Due
    
Past Due
    
Past Due
    
Current
    
Loans
  
                                     
Commercial:
                                    
Commercial real estate
  
$
-
      
-
      
-
      
-
      
39,187
      
39,187
  
Other
    
-
      
-
      
314
      
314
      
6
      
320
  
Real estate mortgage - 1 to 4 family:
                                                
First mortgages
    
506
      
35
      
1,307
      
1,848
      
1,495,256
      
1,497,104
  
Home equity loans
    
-
      
-
      
-
      
-
      
13,020
      
13,020
  
Home equity lines of credit
    
95
      
19
      
-
      
114
      
110,795
      
110,909
  
Installment
    
15
      
-
      
46
      
61
      
4,300
      
4,361
  
                                                 
Total
  
$
616
      
54
      
1,667
      
2,337
      
1,662,564
      
1,664,901
  

Total:
                                    
   
30-59
    
60-89
    
90 +
      Total              
    Days     Days     Days    
30+ days
           Total  
(dollars in thousands)
  
Past Due
    
Past Due
    
Past Due
    
Past Due
    
Current
    
Loans
  
                                     
Commercial:
                                    
Commercial real estate
  
$
-
      
-
      
525
      
525
      
229,023
      
229,548
  
Other
    
33
      
8
      
314
      
355
      
21,531
      
21,886
  
Real estate mortgage - 1 to 4 family:
                                                
First mortgages
    
3,187
      
262
      
9,659
      
13,108
      
4,239,036
      
4,252,144
  
Home equity loans
    
65
      
96
      
158
      
319
      
57,542
      
57,861
  
Home equity lines of credit
    
669
      
44
      
656
      
1,369
      
307,607
      
308,976
  
Installment
    
52
      
45
      
112
      
209
      
16,187
      
16,396
  
                                                 
Total
  
$
4,006
      
455
      
11,424
      
15,885
      
4,870,926
      
4,886,811
  

* Includes New York, New Jersey, Vermont and Massachusetts.

The following tables present the aging of the recorded investment in past due loans by loan class and by region as of December 31, 2022:

   
As of December 31, 2022
  
New York and other states*:
                                    
   
30-59
    
60-89
    
90 +
      Total              
    Days     Days     Days    
30+ days
           Total  
(dollars in thousands)
  
Past Due
    
Past Due
    
Past Due
    
Past Due
    
Current
    
Loans
  
                                     
Commercial:
                                    
Commercial real estate
  
$
-
      
-
      
161
      
161
      
177,210
      
177,371
  
Other
    
18
      
-
      
20
      
38
      
20,183
      
20,221
  
Real estate mortgage - 1 to 4 family:
                                                
First mortgages
    
4,262
      
921
      
7,203
      
12,386
      
2,764,603
      
2,776,989
  
Home equity loans
    
283
      
-
      
67
      
350
      
43,649
      
43,999
  
Home equity lines of credit
    
978
      
-
      
591
      
1,569
      
190,357
      
191,926
  
Installment
    
78
      
4
      
23
      
105
      
9,303
      
9,408
  
                                                 
Total
  
$
5,619
      
925
      
8,065
      
14,609
      
3,205,305
      
3,219,914
  

Florida:
                                    
   
30-59
    
60-89
    
90 +
      Total              
    Days     Days     Days    
30+ days
            Total  
(dollars in thousands)
  
Past Due
    
Past Due
    
Past Due
    
Past Due
    
Current
    
Loans
  
                                     
Commercial:
                                    
Commercial real estate
  
$
-
      
-
      
-
      
-
      
32,551
      
32,551
  
Other
    
-
      
-
      
314
      
314
      
554
      
868
  
Real estate mortgage - 1 to 4 family:
                                                
First mortgages
    
1,183
      
243
      
1,404
      
2,830
      
1,367,083
      
1,369,913
  
Home equity loans
    
51
      
-
      
-
      
51
      
12,499
      
12,550
  
Home equity lines of credit
    
224
      
-
      
-
      
224
      
94,282
      
94,506
  
Installment
    
6
      
-
      
83
      
89
      
2,810
      
2,899
  
                                                 
Total
  
$
1,464
      
243
      
1,801
      
3,508
      
1,509,779
      
1,513,287
  

Total:
                                    
   
30-59
    
60-89
    
90 +
      Total              
    Days     Days     Days    
30+ days
           Total  
(dollars in thousands)
  
Past Due
    
Past Due
    
Past Due
    
Past Due
    
Current
    
Loans
  
                                     
Commercial:
                                    
Commercial real estate
  
$
-
      
-
      
161
      
161
      
209,761
      
209,922
  
Other
    
18
      
-
      
334
      
352
      
20,737
      
21,089
  
Real estate mortgage - 1 to 4 family:
                                                
First mortgages
    
5,445
      
1,164
      
8,607
      
15,216
      
4,131,686
      
4,146,902
  
Home equity loans
    
334
      
-
      
67
      
401
      
56,148
      
56,549
  
Home equity lines of credit
    
1,202
      
-
      
591
      
1,793
      
284,639
      
286,432
  
Installment
    
84
      
4
      
106
      
194
      
12,113
      
12,307
  
                                                 
Total
  
$
7,083
      
1,168
      
9,866
      
18,117
      
4,715,084
      
4,733,201
  

* Includes New York, New Jersey, Vermont and Massachusetts.
Recorded Investment in Non-Accrual Loans by Loan Class
The following table presents the amortized cost basis in non-accrual loans by portfolio segment:

   
As of June 30, 2023
  
(dollars in thousands)  
New York and
              

 
other states*
    
Florida
    
Total
  
Loans in non-accrual status:
                  
Commercial:
                  
Commercial real estate
  
$
545
     $
-
     $
545
  
Other
    
-
      
314
      
314
  
Real estate mortgage - 1 to 4 family:
                        
First mortgages
    
13,680
      
2,035
      
15,715
  
Home equity loans
    
240
      
46
      
286
  
Home equity lines of credit
    
2,252
      
177
      
2,429
  
Installment
    
124
      
-
      
124
  
Total non-accrual loans
    
16,841
      
2,572
      
19,413
  
Restructured real estate mortgages - 1 to 4 family
    
7
      
-
      
7
  
Total nonperforming loans
  
$
16,848
     $
2,572
     $
19,420
  

* Includes New York, New Jersey, Vermont and Massachusetts.

   
As of December 31, 2022
  
(dollars in thousands)
  
New York and
              

 
other states*
    
Florida
    
Total
  
Loans in non-accrual status:
                  
Commercial:
                  
Commercial real estate
  
$
199
     $
-
     $
199
  
Other
    
20
      
314
      
334
  
Real estate mortgage - 1 to 4 family:
                        
First mortgages
    
12,609
      
1,736
      
14,345
  
Home equity loans
    
153
      
42
      
195
  
Home equity lines of credit
    
2,187
      
117
      
2,304
  
Installment
    
23
      
83
      
106
  
Total non-accrual loans
    
15,191
      
2,292
      
17,483
  
Restructured real estate mortgages - 1 to 4 family
    
10
      
-
      
10
  
Total nonperforming loans
  
$
15,201
     $
2,292
     $
17,493
  

* Includes New York, New Jersey, Vermont and Massachusetts.
Loans on Non-Accrual Status and Past Due More than 90 Days
The following tables present the amortized cost basis of loans on non-accrual status and loans past due over 89 days still accruing as of June 30, 2023 and December 31,2022:

   
As of June 30, 2023
 
(dollars in thousands)  
Non-accrual With
      Non-accrual With      Loans Past Due  
   
No Allowance for
    
Allowance for
    
Over 89 Days
  

 
Credit Loss
    
Credit Loss
   
Still Accruing
  
Commercial:
                  
Commercial real estate
  
$
545
    
$
-
    

-
  
Other
    
314
      
-
      
-
  
Real estate mortgage - 1 to 4 family:
                        
First mortgages
    
14,406
      
1,309
      
-
  
Home equity loans
    
195
      
91
      
-
  
Home equity lines of credit
    
2,349
      
80
      
-
  
Installment
    
112
      
12
      
-
  
Total loans, net
  
$
17,921
    
$
1,492
    

-
  

 
  
As of December 31, 2022
  
(dollars in thousands)
  
Non-accrual With
    
Non-accrual With
    
Loans Past Due
  
 
  
No Allowance for
    
Allowance for
    
Over 89 Days
  
 
  
Credit Loss
    
Credit Loss
    
Still Accruing
  
Commercial:
                  
Commercial real estate
  
$
160
    
$
39
      
-
  
Other
    
20
      
314
      
-
  
Real estate mortgage - 1 to 4 family:
                        
First mortgages
    
13,502
      
843
      
-
  
Home equity loans
    
129
      
66
      
-
  
Home equity lines of credit
    
2,257
      
47
      
-
  
Installment
    
82
      
24
      
-
  
Total loans, net
  
$
16,150
    
$
1,333
      
-
  
Amortized Cost of Collateral-dependent Loans by Class The following table presents the amortized cost basis of individually analyzed collateral dependent loans by portfolio segment as of June 30, 2023 and December 31, 2022:

    As of June 30, 2023  
   
Type of Collateral
  
(dollars in thousands)        

       

 
Real Estate
    
Investment
Securities/Cash
    
Other
  
Commercial:
                  
Commercial real estate
  
$
656
      
-
      
-
  
Other
    
314
      
-
      
-
  
Real estate mortgage - 1 to 4 family:
              
        
  
First mortgages
    
21,934
      
-
      
-
  
Home equity loans
    
299
      
-
      
-
  
Home equity lines of credit
    
3,313
      
-
      
-
  
Installment
    
112
      
-
      
-
  
Total
  
$
26,628
      
-
      
-
  

 
  
As of December 31, 2022
  
 
  
Type of Collateral
  
(dollars in thousands)
                  
 
  
Real Estate
    
Investment Securities/Cash
    
Other
  
Commercial:
                  
Commercial real estate
  
$
312
      
-
      
-
  
Other
    
334
      
-
      
-
  
Real estate mortgage - 1 to 4 family:
    

     

     

 
First mortgages
    
21,467
      
-
      
-
  
Home equity loans
    
236
      
-
      
-
  
Home equity lines of credit
    
3,264
      
-
      
-
  
Installment
    
82
      
-
      
-
  
Total
  
$
25,695
      
-
      
-
  
Amortized Cost Basis of Loans Modified to Borrowers Experiencing Financial Difficulty and Financial Effects of Loan Modifications The percentage of the amortized cost basis of loans that were modified to borrowers in financial distress as compared to the amortized cost basis of each class of financing receivable is also presented below:

For the three months ended June 30, 2023
  
New York and other states*:
            
 
  
Payment
    
% of Total Class
  
(dollars in thousands)
  
Delay
    
of Loans
  
 
            
Commercial:
            
Commercial real estate
  
$
-
     -  
Other
    
-
     -  
Real estate mortgage - 1 to 4 family:
    
-
     -  
First mortgages
    
238
      
0.01
%
Home equity loans
     -       -  
Home equity lines of credit
    
50
       0.03 %
Installment
    
-
       -  
 
                
Total
  
$
288
       0.01 %

Florida:
            
 
  
Payment
    
% of Total Class
  
(dollars in thousands)
  
Delay
    
of Loans
  
 
            
Commercial:
            
Commercial real estate
  
$
-
       -  
Other
    
-
       -  
Real estate mortgage - 1 to 4 family:
             -
  
First mortgages
    
342
      
0.02
%
Home equity loans
    
-
       -  
Home equity lines of credit
    
-
       -  
Installment
    
-
       -  
 
                
Total
  
$
342
       0.02 %

 
            
 
  
Payment
    
% of Total Class
  
(dollars in thousands)
  
Delay
    
of Loans
  
 
            
Commercial:
            
Commercial real estate
  
$
-
       -  
Other
    
-
       -  
Real estate mortgage - 1 to 4 family:
                
First mortgages
    
580
      
0.01
%
Home equity loans
    
-
       -  
Home equity lines of credit
    
50
      
0.02
%
Installment
    
-
       -  
 
                
Total
  
$
630
       0.01 %

* Includes New York, New Jersey, Vermont and Massachusetts.

For the six months ended June 30, 2023
  
New York and other states*:
        
 
Payment
  
% of Total Class
  
(dollars in thousands)
Delay
  
of Loans
  
 
        
Commercial:
        
Commercial real estate
  
$
-
       -  
Other
    
-
       -  
Real estate mortgage - 1 to 4 family:
    
-
       -  
First mortgages
    
238
      
0.01
%
Home equity loans
     -       -  
Home equity lines of credit
    
50
       0.03 %
Installment
    
-
       -  
 
                
Total
  
$
288
       0.01 %

Florida:
            
 
  
Payment
    
% of Total Class
  
(dollars in thousands)
  
Delay
    
of Loans
  
 
            
Commercial:
            
Commercial real estate
  
$
-
       -  
Other
    
-
       -  
Real estate mortgage - 1 to 4 family:
                
First mortgages
    
342
      
0.02
%
Home equity loans
    
-
       -  
Home equity lines of credit
    
-
       -  
Installment
    
-
       -  
 
                
Total
  
$
342
       0.02 %

 
            
 
  
Payment
    
% of Total Class
  
(dollars in thousands)
  
Delay
    
of Loans
  
 
            
Commercial:
            
Commercial real estate
  
$
-
       -  
Other
    
-
       -  
Real estate mortgage - 1 to 4 family:
                
First mortgages
    
580
      
0.01
%
Home equity loans
    
-
       -  
Home equity lines of credit
    
50
      
0.02
%
Installment
    
-
       -  
 
                
Total
  
$
630
       0.01 %
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty The following table describes the performance of loans that have been modified during the six months ended June 30, 2023:

   
As of June 30, 2023
  
New York and other states*:           30-59
      60-89
      90+        
            Days
      Days
      Days
       
(dollars in thousands)    Current       Past Due
      Past Due
      Past Due
     Total  
Commercial:
                                    
Commercial real estate
  
$
-
    
$
-
    
$
-
    
$
-
    
$
-
  
Other
    
-
      
-
      
-
      
-
      
-
  
Real estate mortgage - 1 to 4 family:
                                        
First mortgages
    
238
      
-
      
-
      
-
      
238
  
Home equity loans
    
-
      
-
      
-
       -      
-
  
Home equity lines of credit
    
50
      
-
      
-
      
-
      
50
  
Installment
    
-
      
-
      
-
      
-
      
-
  
                                         
Total
  
$
288
    
$
-
    
$
-
    
$
-
    
$
288
  

Florida:           30-59
      60-89
      90+        
            Days
      Days
      Days
       
(dollars in thousands)    Current       Past Due
      Past Due
      Past Due
     Total  
Commercial:
                                    
Commercial real estate
  
$
-
    
$
-
    
$
-
    
$
-
    
$
-
  
Other
    
-
      
-
      
-
      
-
      
-
  
Real estate mortgage - 1 to 4 family:
                                        
First mortgages
    
342
      
-
      
-
      
-
      
342
  
Home equity loans
    
-
      
-
      
-
       -      
-
  
Home equity lines of credit
    
-
      
-
      
-
      
-
      
-
  
Installment
    
-
      
-
      
-
      
-
      
-
  
                                         
Total
  
$
342
    
$
-
    
$
-
    
$
-
    
$
342
  

Total           30-59
      60-89
      90+        
            Days
      Days
      Days
       
(dollars in thousands)    Current       Past Due
      Past Due
      Past Due
     Total  
Commercial:
                                    
Commercial real estate
  
$
-
    
$
-
    
$
-
    
$
-
    
$
-
  
Other
    
-
      
-
      
-
      
-
      
-
  
Real estate mortgage - 1 to 4 family:
                                        
First mortgages
    
580
      
-
      
-
      
-
      
580
  
Home equity loans
    
-
      
-
      
-
       -      
-
  
Home equity lines of credit
    
50
      
-
      
-
      
-
      
50
  
Installment
    
-
      
-
      
-
      
-
      
-
  
                                         
Total
  
$
630
    
$
-
    
$
-
    
$
-
    
$
630
  
Financial Effect of Modifications Made to Borrowers Experiencing Financial Difficulty
The following tables describes the financial effect of the modifications made to borrowers experiencing financial difficulty:

For the three months ended June 30, 2023
  
   
Weighted
  
New York and other states*:
  
Average
  
   
Payment
  
(dollars in thousands)
  
Delay (Months)
  
       
Commercial:
      
Commercial real estate
  
$
-
  
Other
    
-
  
Real estate mortgage - 1 to 4 family:
    
 
First mortgages
    
22
  
Home equity loans
    
-
  
Home equity lines of credit
    
18
  
Installment
    
-
  
         
Total
  
$
40
  

    Weighted
  
Florida:
   Average
  
   
Payment
  
(dollars in thousands)
  
Delay (Months)
  
       
Commercial:
      
Commercial real estate
  
$
-
  
Other
    
-
  
Real estate mortgage - 1 to 4 family:
        
First mortgages
    
24
  
Home equity loans
    
-
  
Home equity lines of credit
    
-
  
Installment
    
-
  
         
Total
  
$
24
  

    Weighted
  
 
   Average
  
   
Payment
  
(dollars in thousands)
  
Delay (Months)
  
       
Commercial:
      
Commercial real estate
  
$
-
  
Other
    
-
  
Real estate mortgage - 1 to 4 family:
        
First mortgages
    
46
  
Home equity loans
    
-
  
Home equity lines of credit
    
18
  
Installment
    
-
  
         
Total
  
$
64
  

*
Includes New York, New Jersey, Vermont and Massachusetts.

For the six months ended June 30, 2023
  
   
Weighted
  
New York and other states*:
  
Average
  
   
Payment
  
(dollars in thousands)
  
Delay (Months)
  
       
Commercial:
      
Commercial real estate
  
$
-
  
Other
    
-
  
Real estate mortgage - 1 to 4 family:
    
 
First mortgages
    
22
  
Home equity loans
    
-
  
Home equity lines of credit
    
18
  
Installment
    
-
  
         
Total
  
$
40
  
 
    Weghted
  
Florida:
   Average
  
   
Payment
  
(dollars in thousands)
  
Delay (Months)
  
       
Commercial:
      
Commercial real estate
  
$
-
  
Other
    
-
  
Real estate mortgage - 1 to 4 family:
        
First mortgages
    
24
  
Home equity loans
    
-
  
Home equity lines of credit
    
-
  
Installment
    
-
  
         
Total
  
$
24
  

    Weighted
  
 
   Average
  
   
Payment
  
(dollars in thousands)
  
Delay (Months)
  
       
Commercial:
      
Commercial real estate
  
$
-
  
Other
    
-
  
Real estate mortgage - 1 to 4 family:
        
First mortgages
    
46
  
Home equity loans
    
-
  
Home equity lines of credit
    
18
  
Installment
    
-
  
         
Total
  
$
64
  

*
Includes New York, New Jersey, Vermont and Massachusetts.
Modified Loans by Class that were Determined to be TDR's

Prior to the adoption of ASU 2022-02, the company accounted for loan modifications as Troubled Debt Restructurings (TDRs) and the following table presents, by class, loans that were modified as TDR’s for the three and six months ended June 30, 2022:

 
Three months ended June 30, 2022
  

                 
 New York and other states*:        
Pre-Modification
    
Post-Modification
  
           Outstanding      Outstanding  
   
Number of
      Recorded      Recorded  
(dollars in thousands)
  
Contracts
    
Investment
    
Investment
  
                   
Commercial:
                  
Commercial real estate
    
-
    
$
-
      
-
  
Real estate mortgage - 1 to 4 family:
                        
First mortgages
    
1
      
73
      
73
  
Home equity loans
    
-
      
-
      
-
  
Home equity lines of credit
    
-
      
-
      
-
  
                         
Total
    
1
    
$
73
      
73
  

Florida:
        
Pre-Modification
    
Post-Modification
  
           Outstanding      Outstanding  
   
Number of
      Recorded      Recorded  
(dollars in thousands)
  
Contracts
    
Investment
    
Investment
  
                   
Commercial:
                  
Commercial real estate
    
-
    
$
-
      
-
  
Real estate mortgage - 1 to 4 family:
                        
First mortgages
    
-
      
-
      
-
  
Home equity loans
    
-
      
-
      
-
  
Home equity lines of credit
    
-
      
-
      
-
  
                         
Total
    
-
    
$
-
      
-
  

*
Includes New York, New Jersey, Vermont and Massachusetts.

 
Six months ended June 30, 2022
  
New York and other states*:
        
Pre-Modification
    
Post-Modification
  
           Outstanding      Outstanding  
   
Number of
      Recorded      Recorded  
(dollars in thousands)
  
Contracts
    
Investment
    
Investment
  
                   
Commercial:
                  
Commercial real estate
    
-
    
$
-
    
-
  
Real estate mortgage - 1 to 4 family:
                        
First mortgages
    
4
      
443
      
443
  
Home equity loans
    
-
      
-
      
-
  
Home equity lines of credit
    
-
      
-
      
-
  
                         
Total
    
4
    
$
443
    
443
  

Florida:
        
Pre-Modification
    
Post-Modification
  
           Outstanding      Outstanding  
   
Number of
      Recorded      Recorded  
(dollars in thousands)
  
Contracts
    
Investment
    
Investment
  
                   
Commercial:
                  
Commercial real estate
    
-
    
$
-
    
-
  
Real estate mortgage - 1 to 4 family:
                        
First mortgages
    
-
      
-
      
-
  
Home equity loans
    
-
      
-
      
-
  
Home equity lines of credit
    
-
      
-
      
-
  
                         
Total
    
-
    
$
-
    
-
  

*
Includes New York, New Jersey, Vermont and Massachusetts.