Loans (Tables)

6 Months Ended

Jun. 30, 2020




	June 30,		December 31, 2019
	2020		Loans						Allowance for Loan Losses
(in thousands)	Loans ‎Outstanding		Individually ‎Evaluated		Collectively ‎Evaluated		Ending ‎Balance		Individually ‎Evaluated		Collectively ‎Evaluated		Ending ‎Balance
Commercial and industrial	$	104,673	$	—	$	103,879	$	103,879	$	—	$	1,493	$	1,493
SBA PPP		165,704		—		—		—		—		—		—
Commercial mortgages:
Multifamily		797,660		—		835,013		835,013		—		7,151		7,151
Other		434,020		—		447,484		447,484		—		3,498		3,498
Owner-occupied		119,862		501		118,291		118,792		—		921		921
Residential mortgages:
Closed end		1,470,181		1,189		1,620,230		1,621,419		14		15,684		15,698
Revolving home equity		58,945		—		59,231		59,231		—		515		515
Consumer and other		1,416		268		2,163		2,431		—		13		13
	$	3,152,461	$	1,958	$	3,186,291	$	3,188,249	$	14	$	29,275	$	29,289

Allowance For Loan Losses



(in thousands)	Balance at ‎ 1/1/20		Impact of ‎ASC 326 ‎Adoption		Chargeoffs		Recoveries		Provision (Credit) for Credit Losses		Balance at ‎6/30/20
Commercial and industrial	$	1,493	$	(244)	$	815	$	257	$	902	$	1,593
SBA PPP		—		—		—		—		249		249
Commercial mortgages:
Multifamily		7,151		1,059		—		—		646		8,856
Other		3,498		(47)		—		—		409		3,860
Owner-occupied		921		778		—		—		(77)		1,622
Residential mortgages:
Closed end		15,698		1,356		19		2		347		17,384
Revolving home equity		515		(6)		—		—		(27)		482
Consumer and other		13		(8)		3		2		1		5
	$	29,289	$	2,888	$	837	$	261	$	2,450	$	34,051



	Balance at ‎4/1/20		Chargeoffs		Recoveries		Provision (Credit) for Credit Losses		Balance at ‎6/30/20
Commercial and industrial	$	1,931	$	197	$	70	$	(211)	$	1,593
SBA PPP		—		—		—		249		249
Commercial mortgages:
Multifamily		8,647		—		—		209		8,856
Other		3,792		—		—		68		3,860
Owner-occupied		1,782		—		—		(160)		1,622
Residential mortgages:
Closed end		17,459		19		2		(58)		17,384
Revolving home equity		487		—		—		(5)		482
Consumer and other		7		2		—		—		5
	$	34,105	$	218	$	72	$	92	$	34,051



(in thousands)	Balance at ‎1/1/19		Chargeoffs		Recoveries		Provision (Credit) for Loan Losses		Balance at ‎6/30/19
Commercial and industrial	$	1,158	$	365	$	8	$	400	$	1,201
Commercial mortgages:
Multifamily		5,851		—		—		879		6,730
Other		3,783		—		—		(343)		3,440
Owner-occupied		743		—		—		85		828
Residential mortgages:
Closed end		18,844		433		1		(1,264)		17,148
Revolving home equity		410		249		—		236		397
Consumer and other		49		—		3		(28)		24
	$	30,838	$	1,047	$	12	$	(35)	$	29,768

	Balance at ‎4/1/19		Chargeoffs		Recoveries		Provision (Credit) for Loan Losses		Balance at ‎6/30/19
Commercial and industrial	$	1,047	$	311	$	4	$	461	$	1,201
Commercial mortgages:
Multifamily		6,435		—		—		295		6,730
Other		3,517		—		—		(77)		3,440
Owner-occupied		685		—		—		143		828
Residential mortgages:
Closed end		18,071		299		—		(624)		17,148
Revolving home equity		402		249		—		244		397
Consumer and other		42		—		2		(20)		24
	$	30,199	$	859	$	6	$	422	$	29,768

Aging Of The Recorded Investment In Loans



	June 30, 2020
	Past Due						Nonaccrual
							With an		With No		Total Past
					90 Days or		Allowance		Allowance		Due Loans &
					More and		for Credit		for Credit		Nonaccrual				Total
(in thousands)	30-59 Days		60-89 Days		Still Accruing		Loss		Loss		Loans		Current		Loans
Commercial and industrial	$	268	$	332	$	—	$	—	$	—	$	600	$	104,073	$	104,673
SBA PPP		—		—		—		—		—		—		165,704		165,704
Commercial mortgages:
Multifamily		—		—		—		—		1,318		1,318		796,342		797,660
Other		—		—		—		—		2,938		2,938		431,082		434,020
Owner-occupied		—		—		—		—		—		—		119,862		119,862
Residential mortgages:
Closed end		—		—		—		—		2,064		2,064		1,468,117		1,470,181
Revolving home equity		9		—		—		—		644		653		58,292		58,945
Consumer and other		1		—		—		—		—		1		1,415		1,416
	$	278	$	332	$	—	$	—	$	6,964	$	7,574	$	3,144,887	$	3,152,461

	December 31, 2019
Commercial and industrial	$	196	$	—	$	—	$	—	$	—	$	196	$	103,683	$	103,879
Commercial mortgages:
Multifamily		—		—		—		—		—		—		835,013		835,013
Other		—		—		—		—		—		—		447,484		447,484
Owner-occupied		—		—		—		—		—		—		118,792		118,792
Residential mortgages:
Closed end		2,316		—		—		—		888		3,204		1,618,215		1,621,419
Revolving home equity		—		414		—		—		—		414		58,817		59,231
Consumer and other		2		—		—		—		—		2		2,429		2,431
	$	2,514	$	414	$	—	$	—	$	888	$	3,816	$	3,184,433	$	3,188,249

Outstanding Loan Modifications



	Number		Outstanding		Accrued
Type of Modification (dollars in thousands)	of Loans	Type of Loans	Loan Balance		Interest
3 Month Deferral of Principal	274	Commercial and Industrial	$	23,477	$	94
3 Month Deferral of Principal and Interest	284	Residential Mortgages		162,928		1,429
3 Month Deferral of Principal and Interest	189	Commercial Mortgages		423,052		4,553
3 Month Deferral of Principal and Interest	28	Commercial and Industrial		11,832		161
	775		$	621,289	$	6,237

Risk Ratings



	June 30, 2020
	Term Loans by Origination Year
													Revolving
(in thousands)	2020		2019		2018		2017		2016		Prior		Loans		Total
Commercial and industrial:
Pass	$	9,769	$	13,228	$	10,527	$	11,374	$	7,619	$	26,299	$	24,624	$	103,440
Watch		—		—		—		—		—		—		—		—
Special Mention		—		—		75		136		—		347		—		558
Substandard		—		448		—		—		—		227		—		675
Doubtful		—		—		—		—		—		—		—		—
	$	9,769	$	13,676	$	10,602	$	11,510	$	7,619	$	26,873	$	24,624	$	104,673
SBA PPP:
Pass	$	165,704	$	—	$	—	$	—	$	—	$	—	$	—	$	165,704
Watch		—		—		—		—		—		—		—		—
Special Mention		—		—		—		—		—		—		—		—
Substandard		—		—		—		—		—		—		—		—
Doubtful		—		—		—		—		—		—		—		—
	$	165,704	$	—	$	—	$	—	$	—	$	—	$	—	$	165,704
Commercial mortgages – multifamily:
Pass	$	10,769	$	154,913	$	164,149	$	163,104	$	33,171	$	266,639	$	—	$	792,745
Watch		—		—		—		1,302		2,295		—		—		3,597
Special Mention		—		—		—		—		—		—		—		—
Substandard		—		—		—		—		1,318		—		—		1,318
Doubtful		—		—		—		—		—		—		—		—
	$	10,769	$	154,913	$	164,149	$	164,406	$	36,784	$	266,639	$	—	$	797,660
Commercial mortgages – other:
Pass	$	22,790	$	43,346	$	50,159	$	56,721	$	96,650	$	151,641	$	—	$	421,307
Watch		—		—		—		—		9,775		—		—		9,775
Special Mention		—		—		—		—		—		—		—		—
Substandard		—		—		—		—		1,387		1,551		—		2,938
Doubtful		—		—		—		—		—		—		—		—
	$	22,790	$	43,346	$	50,159	$	56,721	$	107,812	$	153,192	$	—	$	434,020
Commercial mortgages – owner-occupied:
Pass	$	4,825	$	43,846	$	9,118	$	10,076	$	12,712	$	36,813	$	—	$	117,390
Watch		—		—		—		—		—		—		—		—
Special Mention		—		—		—		—		—		—		—		—
Substandard		—		—		—		1,868		—		604		—		2,472
Doubtful		—		—		—		—		—		—		—		—
	$	4,825	$	43,846	$	9,118	$	11,944	$	12,712	$	37,417	$	—	$	119,862
Residential mortgages:
Pass	$	1,778	$	26,905	$	330,632	$	387,609	$	278,075	$	442,091	$	57,886	$	1,524,976
Watch		—		—		—		—		—		302		415		717
Special Mention		—		—		—		—		—		—		—		—
Substandard		—		—		461		—		—		2,328		644		3,433
Doubtful		—		—		—		—		—		—		—		—
	$	1,778	$	26,905	$	331,093	$	387,609	$	278,075	$	444,721	$	58,945	$	1,529,126
Consumer and other (1):
Pass	$	—	$	217	$	25	$	34	$	279	$	343	$	—	$	898
Watch		—		—		—		—		—		—		—		—
Special Mention		—		—		—		—		—		—		—		—
Substandard		—		249		—		—		—		—		—		249
Doubtful		—		—		—		—		—		—		—		—
	$	—	$	466	$	25	$	34	$	279	$	343	$	—	$	1,147

	December 31, 2019
	Internally Assigned Risk Rating
					Special
(in thousands)	Pass		Watch		Mention		Substandard		Doubtful		Total
Commercial and industrial	$	100,095	$	—	$	3,493	$	291	$	—	$	103,879
Commercial mortgages:
Multifamily		831,360		—		3,653		—		—		835,013
Other		437,655		—		9,829		—		—		447,484
Owner-occupied		113,534		—		4,757		501		—		118,792
Residential mortgages:
Closed end		1,619,034		306		890		1,189		—		1,621,419
Revolving home equity		58,816		415		—		—		—		59,231
Consumer and other (1)		1,644		—		—		268		—		1,912
	$	3,162,138	$	721	$	22,622	$	2,249	$	—	$	3,187,730

(1) Deposit account overdrafts were $269,000 and $519,000 at June 30, 2020 and December 31, 2019, respectively. Overdrafts are not assigned a risk rating and are therefore excluded from consumer loans in the tables above.