Loans (Tables)

3 Months Ended

Mar. 31, 2022




(in thousands)	March 31, 2022		December 31, 2021
Commercial and industrial	$	103,870	$	90,386
SBA PPP		12,377		30,534
Commercial mortgages:
Multifamily		942,880		864,207
Other		734,259		700,872
Owner-occupied		193,407		171,533
Residential mortgages:
Closed end		1,191,691		1,202,374
Revolving home equity		45,820		44,139
Consumer and other		2,021		991
	$	3,226,325	$	3,105,036

Allowance For Loan Losses



(in thousands)	Balance at ‎1/1/2022		Chargeoffs		Recoveries		Provision (Credit) for Credit Losses		Balance at ‎3/31/22
Commercial and industrial	$	888	$	4	$	27	$	131	$	1,042
SBA PPP		46		—		—		(27)		19
Commercial mortgages:
Multifamily		8,154		—		—		230		8,384
Other		6,478		—		—		237		6,715
Owner-occupied		2,515		—		—		207		2,722
Residential mortgages:
Closed end		11,298		—		—		(282)		11,016
Revolving home equity		449		—		—		(73)		376
Consumer and other		3		—		—		10		13
	$	29,831	$	4	$	27	$	433	$	30,287



(in thousands)	Balance at ‎1/1/2021		Chargeoffs		Recoveries		Provision (Credit) for Credit Losses		Balance at ‎3/31/21
Commercial and industrial	$	1,416	$	135	$	12	$	(150)	$	1,143
SBA PPP		209		—		—		60		269
Commercial mortgages:
Multifamily		9,474		250		—		(150)		9,074
Other		4,913		—		—		54		4,967
Owner-occupied		1,905		165		91		80		1,911
Residential mortgages:
Closed end		14,706		—		—		(1,070)		13,636
Revolving home equity		407		—		—		192		599
Consumer and other		7		—		—		(2)		5
	$	33,037	$	550	$	103	$	(986)	$	31,604

Aging Of The Recorded Investment In Loans



	March 31, 2022
	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	$	3	$	—	$	—	$	—	$	—	$	3	$	103,867	$	103,870
SBA PPP		209		—		—		—		—		209		12,168		12,377
Commercial mortgages:
Multifamily		—		—		—		—		—		—		942,880		942,880
Other		—		—		—		—		—		—		734,259		734,259
Owner-occupied		—		—		—		—		—		—		193,407		193,407
Residential mortgages:
Closed end		899		—		—		—		1,235		2,134		1,189,557		1,191,691
Revolving home equity		—		2		—		—		—		2		45,818		45,820
Consumer and other		—		—		—		—		—		—		2,021		2,021
	$	1,111	$	2	$	—	$	—	$	1,235	$	2,348	$	3,223,977	$	3,226,325

	December 31, 2021
Commercial and industrial	$	128	$	—	$	—	$	—	$	—	$	128	$	90,258	$	90,386
SBA PPP		259		—		—		—		—		259		30,275		30,534
Commercial mortgages:
Multifamily		—		—		—		—		—		—		864,207		864,207
Other		—		—		—		—		—		—		700,872		700,872
Owner-occupied		—		—		—		—		—		—		171,533		171,533
Residential mortgages:
Closed end		—		—		—		—		1,235		1,235		1,201,139		1,202,374
Revolving home equity		—		—		—		—		—		—		44,139		44,139
Consumer and other		73		—		—		—		—		73		918		991
	$	460	$	—	$	—	$	—	$	1,235	$	1,695	$	3,103,341	$	3,105,036

Amortized Cost Basis of Loans by Class of Loans, Vintage and Risk Rating



	March 31, 2022
	Term Loans by Origination Year												Revolving
(in thousands)	2022		2021		2020		2019		2018		Prior		Loans (1)		Total
Commercial and industrial:
Pass	$	7,746	$	36,360	$	17,281	$	7,339	$	12,620	$	4,529	$	17,731	$	103,606
Watch		—		—		264		—		—		—		—		264
Special Mention		—		—		—		—		—		—		—		—
Substandard		—		—		—		—		—		—		—		—
Doubtful		—		—		—		—		—		—		—		—
	$	7,746	$	36,360	$	17,545	$	7,339	$	12,620	$	4,529	$	17,731	$	103,870
SBA PPP:
Pass	$	—	$	12,165	$	212	$	—	$	—	$	—	$	—	$	12,377
Watch		—		—		—		—		—		—		—		—
Special Mention		—		—		—		—		—		—		—		—
Substandard		—		—		—		—		—		—		—		—
Doubtful		—		—		—		—		—		—		—		—
	$	—	$	12,165	$	212	$	—	$	—	$	—	$	—	$	12,377
Commercial mortgages – multifamily:
Pass	$	116,834	$	183,343	$	40,310	$	143,804	$	143,884	$	305,607	$	307	$	934,089
Watch		—		—		—		—		2,389		—		—		2,389
Special Mention		—		—		—		—		—		—		—		—
Substandard		—		—		—		—		—		6,402		—		6,402
Doubtful		—		—		—		—		—		—		—		—
	$	116,834	$	183,343	$	40,310	$	143,804	$	146,273	$	312,009	$	307	$	942,880
Commercial mortgages – other:
Pass	$	60,606	$	231,887	$	116,826	$	38,371	$	45,999	$	232,584	$	72	$	726,345
Watch		—		—		—		—		947		1,170		—		2,117
Special Mention		—		—		—		—		—		—		—		—
Substandard		—		—		—		—		—		5,797		—		5,797
Doubtful		—		—		—		—		—		—		—		—
	$	60,606	$	231,887	$	116,826	$	38,371	$	46,946	$	239,551	$	72	$	734,259
Commercial mortgages – owner-occupied:
Pass	$	20,699	$	63,248	$	23,710	$	42,385	$	2,928	$	40,095	$	342	$	193,407
Watch		—		—		—		—		—		—		—		—
Special Mention		—		—		—		—		—		—		—		—
Substandard		—		—		—		—		—		—		—		—
Doubtful		—		—		—		—		—		—		—		—
	$	20,699	$	63,248	$	23,710	$	42,385	$	2,928	$	40,095	$	342	$	193,407
Residential mortgages:
Pass	$	54,443	$	177,591	$	38,212	$	17,584	$	196,498	$	705,005	$	45,820	$	1,235,153
Watch		—		—		—		—		—		483		—		483
Special Mention		—		—		—		—		—		—		—		—
Substandard		—		—		—		—		917		958		—		1,875
Doubtful		—		—		—		—		—		—		—		—
	$	54,443	$	177,591	$	38,212	$	17,584	$	197,415	$	706,446	$	45,820	$	1,237,511
Consumer and other:
Pass	$	375	$	—	$	—	$	108	$	—	$	136	$	467	$	1,086
Watch		—		—		—		—		—		—		—		—
Special Mention		—		—		—		—		—		—		—		—
Substandard		—		—		—		—		—		—		—		—
Doubtful		—		—		—		—		—		—		—		—
Not Rated		—		—		—		—		—		—		935		935
	$	375	$	—	$	—	$	108	$	—	$	136	$	1,402	$	2,021

Total Loans	$	260,703	$	704,594	$	236,815	$	249,591	$	406,182	$	1,302,766	$	65,674	$	3,226,325

(1) Includes commercial and industrial and residential mortgage lines converted to term of $5.9 million and $8.8 million, respectively.