Loans (Tables)

9 Months Ended

Sep. 30, 2022

Loans [Abstract]

Loans Outstanding By Class Of Loans

(in thousands)	September 30, 2022		December 31, 2021
Commercial and industrial	$	112,873	$	90,386
SBA PPP		193		30,534
Commercial mortgages:
Multifamily		927,717		864,207
Other		793,592		700,872
Owner-occupied		220,905		171,533
Residential mortgages:
Closed end		1,233,005		1,202,374
Revolving home equity		43,276		44,139
Consumer and other		1,642		991
	$	3,333,203	$	3,105,036

Allowance For Loan Losses

(in thousands)	Balance at ‎1/1/2022		Chargeoffs		Recoveries		Provision (Credit) for Credit Losses		Balance at ‎9/30/2022
Commercial and industrial	$	888	$	424	$	64	$	940	$	1,468
SBA PPP		46		—		—		(42)		4
Commercial mortgages:
Multifamily		8,154		—		—		267		8,421
Other		6,478		—		—		1,014		7,492
Owner-occupied		2,515		—		—		503		3,018
Residential mortgages:
Closed end		11,298		372		—		(345)		10,581
Revolving home equity		449		—		—		(101)		348
Consumer and other		3		—		—		12		15
	$	29,831	$	796	$	64	$	2,248	$	31,347

(in thousands)	Balance at ‎7/1/2022		Chargeoffs		Recoveries		Provision (Credit) for Credit Losses		Balance at ‎9/30/2022
Commercial and industrial	$	1,041	$	344	$	21	$	750	$	1,468
SBA PPP		7		—		—		(3)		4
Commercial mortgages:
Multifamily		8,877		—		—		(456)		8,421
Other		6,924		—		—		568		7,492
Owner-occupied		2,961		—		—		57		3,018
Residential mortgages:
Closed end		10,694		284		—		171		10,581
Revolving home equity		350		—		—		(2)		348
Consumer and other		11		—		—		4		15
	$	30,865	$	628	$	21	$	1,089	$	31,347

(in thousands)	Balance at ‎1/1/2021		Chargeoffs		Recoveries		Provision (Credit) for Credit Losses		Balance at ‎9/30/2021
Commercial and industrial	$	1,416	$	227	$	188	$	(519)	$	858
SBA PPP		209		—		—		(111)		98
Commercial mortgages:
Multifamily		9,474		544		—		(1,103)		7,827
Other		4,913		—		—		859		5,772
Owner-occupied		1,905		165		91		180		2,011
Residential mortgages:
Closed end		14,706		79		19		(2,205)		12,441
Revolving home equity		407		—		254		(156)		505
Consumer and other		7		1		1		(3)		4
	$	33,037	$	1,016	$	553	$	(3,058)	$	29,516

(in thousands)	Balance at ‎7/1/2021		Chargeoffs		Recoveries		Provision (Credit) for Credit Losses		Balance at ‎9/30/2021
Commercial and industrial	$	1,008	$	—	$	20	$	(170)	$	858
SBA PPP		141		—		—		(43)		98
Commercial mortgages:
Multifamily		8,613		292		—		(494)		7,827
Other		5,363		—		—		409		5,772
Owner-occupied		1,895		—		—		116		2,011
Residential mortgages:
Closed end		13,316		—		16		(891)		12,441
Revolving home equity		628		—		254		(377)		505
Consumer and other		4		1		—		1		4
	$	30,968	$	293	$	290	$	(1,449)	$	29,516

Aging Of The Recorded Investment In Loans

	September 30, 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	$	333	$	—	$	—	$	—	$	—	$	333	$	112,540	$	112,873
SBA PPP		193		—		—		—		—		193		—		193
Commercial mortgages:
Multifamily		—		—		—		—		—		—		927,717		927,717
Other		—		—		—		—		—		—		793,592		793,592
Owner-occupied		—		—		—		—		—		—		220,905		220,905
Residential mortgages:
Closed end		—		—		—		—		—		—		1,233,005		1,233,005
Revolving home equity		—		—		—		—		—		—		43,276		43,276
Consumer and other		—		—		—		—		—		—		1,642		1,642
	$	526	$	—	$	—	$	—	$	—	$	526	$	3,332,677	$	3,333,203
	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

	September 30, 2022
	Term Loans by Origination Year												Revolving
(in thousands)	2022		2021		2020		2019		2018		Prior		Loans (1)		Total
Commercial and industrial:
Risk rating:
Pass	$	28,101	$	30,194	$	10,697	$	6,006	$	8,278	$	8,672	$	15,638	$	107,586
Watch		—		5,001		271		—		—		—		15		5,287
Special Mention		—		—		—		—		—		—		—		—
Substandard		—		—		—		—		—		—		—		—
Doubtful		—		—		—		—		—		—		—		—
	$	28,101	$	35,195	$	10,968	$	6,006	$	8,278	$	8,672	$	15,653	$	112,873
Current-period gross chargeoffs	$	—	$	—	$	—	$	—	$	—	$	—	$	(424)	$	(424)
Current-period recoveries		—		—		—		—		—		—		64		64
Current-period net chargeoffs	$	—	$	—	$	—	$	—	$	—	$	—	$	(360)	$	(360)
SBA PPP:
Risk rating:
Pass	$	—	$	—	$	193	$	—	$	—	$	—	$	—	$	193
Watch		—		—		—		—		—		—		—		—
Special Mention		—		—		—		—		—		—		—		—
Substandard		—		—		—		—		—		—		—		—
Doubtful		—		—		—		—		—		—		—		—
	$	—	$	—	$	193	$	—	$	—	$	—	$	—	$	193
Current-period gross chargeoffs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Current-period recoveries		—		—		—		—		—		—		—		—
Current-period net chargeoffs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Commercial mortgages – multifamily:
Risk rating:
Pass	$	191,239	$	181,529	$	39,899	$	125,813	$	122,263	$	260,415	$	225	$	921,383
Watch		—		—		—		—		—		—		—		—
Special Mention		—		—		—		—		—		—		—		—
Substandard		—		—		—		—		—		6,334		—		6,334
Doubtful		—		—		—		—		—		—		—		—
	$	191,239	$	181,529	$	39,899	$	125,813	$	122,263	$	266,749	$	225	$	927,717
Current-period gross chargeoffs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Current-period recoveries		—		—		—		—		—		—		—		—
Current-period net chargeoffs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Commercial mortgages – other:
Risk rating:
Pass	$	178,787	$	225,269	$	112,317	$	34,647	$	44,121	$	190,614	$	—	$	785,755
Watch		—		—		—		—		939		—		—		939
Special Mention		—		—		—		—		—		—		—		—
Substandard		—		—		—		—		—		6,898		—		6,898
Doubtful		—		—		—		—		—		—		—		—
	$	178,787	$	225,269	$	112,317	$	34,647	$	45,060	$	197,512	$	—	$	793,592
Current-period gross chargeoffs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Current-period recoveries		—		—		—		—		—		—		—		—
Current-period net chargeoffs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Commercial mortgages – owner-occupied:
Risk rating:
Pass	$	54,919	$	62,134	$	21,321	$	41,821	$	2,819	$	36,793	$	1,098	$	220,905
Watch		—		—		—		—		—		—		—		—
Special Mention		—		—		—		—		—		—		—		—
Substandard		—		—		—		—		—		—		—		—
Doubtful		—		—		—		—		—		—		—		—
	$	54,919	$	62,134	$	21,321	$	41,821	$	2,819	$	36,793	$	1,098	$	220,905
Current-period gross chargeoffs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Current-period recoveries		—		—		—		—		—		—		—		—
Current-period net chargeoffs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

	September 30, 2022
	Term Loans by Origination Year												Revolving
(in thousands)	2022		2021		2020		2019		2018		Prior		Loans (1)		Total
Residential mortgages:
Risk rating:
Pass	$	173,556	$	170,685	$	37,500	$	17,272	$	187,310	$	646,210	$	43,276	$	1,275,809
Watch		—		—		—		—		—		472		—		472
Special Mention		—		—		—		—		—		—		—		—
Substandard		—		—		—		—		—		—		—		—
Doubtful		—		—		—		—		—		—		—		—
	$	173,556	$	170,685	$	37,500	$	17,272	$	187,310	$	646,682	$	43,276	$	1,276,281
Current-period gross chargeoffs	$	—	$	—	$	—	$	—	$	—	$	(372)	$	—	$	(372)
Current-period recoveries		—		—		—		—		—		—		—		—
Current-period net chargeoffs	$	—	$	—	$	—	$	—	$	—	$	(372)	$	—	$	(372)
Consumer and other:
Risk rating:
Pass	$	295	$	—	$	—	$	100	$	—	$	92	$	810	$	1,297
Watch		—		—		—		—		—		—		—		—
Special Mention		—		—		—		—		—		—		—		—
Substandard		—		—		—		—		—		—		—		—
Doubtful		—		—		—		—		—		—		—		—
Not Rated		—		—		—		—		—		—		345		345
	$	295	$	—	$	—	$	100	$	—	$	92	$	1,155	$	1,642
Current-period gross chargeoffs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Current-period recoveries		—		—		—		—		—		—		—		—
Current-period net chargeoffs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Total Loans	$	626,897	$	674,812	$	222,198	$	225,659	$	365,730	$	1,156,500	$	61,407	$	3,333,203
Total net chargeoffs	$	—	$	—	$	—	$	—	$	—	$	(372)	$	(360)	$	(732)

(1) Includes commercial and industrial and residential mortgage lines converted to term of $5.3 million and $9.1 million, respectively.