XML 38 R29.htm IDEA: XBRL DOCUMENT v3.23.3
ALLOWANCE FOR CREDIT LOSSES (Tables)
 9 Months Ended
Sep. 30, 2023
Credit Loss [Abstract]  
Schedule of loan balances by segment and the corresponding balances in the allowance for loan losses

The following tables present the loan balances by segment, and the corresponding balances in the allowance as of September 30, 2023 and December 31, 2022. The allowance was based on the CECL methodology.

 

 

 

September 30, 2023

 

 

 

 

 

 

Ending ACL

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Attributable

 

 

 

 

 

Ending ACL

 

 

 

 

 

 

 

 

 

Total

 

 

To

 

 

Total

 

 

Attributable

 

 

 

 

 

 

 

 

 

Individually

 

 

Individually

 

 

Loans

 

 

To Loans

 

 

 

 

 

Total

 

 

 

Evaluated

 

 

Evaluated

 

 

Collectively

 

 

Collectively

 

 

Total

 

 

Ending

 

(In thousands)

 

Loans

 

 

Loans

 

 

Evaluated

 

 

Evaluated

 

 

Loans

 

 

ACL

 

Primary residential mortgage

 

$

357

 

 

$

—

 

 

$

585,396

 

 

$

3,263

 

 

$

585,753

 

 

$

3,263

 

Junior lien loan on residence

 

 

—

 

 

 

—

 

 

 

38,084

 

 

 

154

 

 

 

38,084

 

 

 

154

 

Multifamily property

 

 

18,868

 

 

 

2,142

 

 

 

1,852,985

 

 

 

8,440

 

 

 

1,871,853

 

 

 

10,582

 

Owner-occupied commercial real estate

 

 

—

 

 

 

—

 

 

 

259,304

 

 

 

4,662

 

 

 

259,304

 

 

 

4,662

 

Investment commercial real estate

 

 

9,903

 

 

 

—

 

 

 

1,040,392

 

 

 

13,525

 

 

 

1,050,295

 

 

 

13,525

 

Commercial and industrial

 

 

30,810

 

 

 

4,843

 

 

 

1,303,001

 

 

 

27,291

 

 

 

1,333,811

 

 

 

32,134

 

Lease financing

 

 

10,246

 

 

 

1,071

 

 

 

252,438

 

 

 

1,896

 

 

 

262,684

 

 

 

2,967

 

Construction

 

 

—

 

 

 

—

 

 

 

21,328

 

 

 

552

 

 

 

21,328

 

 

 

552

 

Consumer and other loans

 

 

—

 

 

 

—

 

 

 

60,048

 

 

 

753

 

 

 

60,048

 

 

 

753

 

Total ACL

 

$

70,184

 

 

$

8,056

 

 

$

5,412,976

 

 

$

60,536

 

 

$

5,483,160

 

 

$

68,592

 

 

 

 

December 31, 2022

 

 

 

 

 

 

Ending ACL

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Attributable

 

 

 

 

 

Ending ACL

 

 

 

 

 

 

 

 

 

Total

 

 

To

 

 

Total

 

 

Attributable

 

 

 

 

 

 

 

 

 

Individually

 

 

Individually

 

 

Loans

 

 

To Loans

 

 

 

 

 

Total

 

 

 

Evaluated

 

 

Evaluated

 

 

Collectively

 

 

Collectively

 

 

Total

 

 

Ending

 

(In thousands)

 

Loans

 

 

Loans

 

 

Evaluated

 

 

Evaluated

 

 

Loans

 

 

ACL

 

Primary residential mortgage

 

$

374

 

 

$

—

 

 

$

527,410

 

 

$

2,894

 

 

$

527,784

 

 

$

2,894

 

Junior lien loan on residence

 

 

—

 

 

 

—

 

 

 

38,265

 

 

 

154

 

 

 

38,265

 

 

 

154

 

Multifamily property

 

 

—

 

 

 

—

 

 

 

1,863,915

 

 

 

8,849

 

 

 

1,863,915

 

 

 

8,849

 

Owner-occupied commercial real estate

 

 

—

 

 

 

—

 

 

 

272,009

 

 

 

4,835

 

 

 

272,009

 

 

 

4,835

 

Investment commercial real estate

 

 

11,208

 

 

 

1,208

 

 

 

1,032,917

 

 

 

14,272

 

 

 

1,044,125

 

 

 

15,480

 

Commercial and industrial

 

 

3,385

 

 

 

299

 

 

 

1,191,277

 

 

 

25,231

 

 

 

1,194,662

 

 

 

25,530

 

Lease financing

 

 

1,765

 

 

 

—

 

 

 

286,801

 

 

 

2,314

 

 

 

288,566

 

 

 

2,314

 

Construction

 

 

—

 

 

 

—

 

 

 

9,936

 

 

 

236

 

 

 

9,936

 

 

 

236

 

Consumer and other loans

 

 

—

 

 

 

—

 

 

 

42,319

 

 

 

537

 

 

 

42,319

 

 

 

537

 

Total ACL

 

$

16,732

 

 

$

1,507

 

 

$

5,264,849

 

 

$

59,322

 

 

$

5,281,581

 

 

$

60,829

 

 
Schedule of loans individually evaluated by segment

The following tables present collateral dependent loans individually evaluated by segment as of September 30, 2023 and December 31, 2022:

 

 

 

September 30, 2023

 

 

 

 

 

 

 

 

 

 

 

 

Average

 

 

 

Unpaid

 

 

 

 

 

 

 

 

Individually

 

 

 

Principal

 

 

Recorded

 

 

Related

 

 

Evaluated

 

(In thousands)

 

Balance

 

 

Investment (A)

 

 

Allowance

 

 

Loans

 

With no related allowance recorded:

 

 

 

 

 

 

 

 

 

 

 

 

Primary residential mortgage

 

$

405

 

 

$

357

 

 

$

—

 

 

$

410

 

Investment commercial real estate

 

 

12,500

 

 

 

9,903

 

 

 

—

 

 

 

4,411

 

Multifamily property

 

 

9,153

 

 

 

9,153

 

 

 

—

 

 

 

4,068

 

Commercial and industrial

 

 

4,637

 

 

 

2,460

 

 

 

—

 

 

 

1,900

 

Lease financing

 

 

1,178

 

 

 

1,110

 

 

 

—

 

 

 

1,407

 

Total loans with no related allowance

 

$

27,873

 

 

$

22,983

 

 

$

—

 

 

$

12,196

 

With related allowance recorded:

 

 

 

 

 

 

 

 

 

 

 

 

Multifamily property

 

$

9,715

 

 

$

9,715

 

 

$

2,142

 

 

$

8,074

 

Commercial and industrial

 

 

28,542

 

 

 

28,350

 

 

 

4,843

 

 

 

4,290

 

Lease financing

 

 

9,246

 

 

 

9,136

 

 

 

1,071

 

 

 

1,015

 

Total loans with related allowance

 

$

47,503

 

 

$

47,201

 

 

$

8,056

 

 

$

13,379

 

Total loans individually evaluated

 

$

75,376

 

 

$

70,184

 

 

$

8,056

 

 

$

25,575

 

(A) Reflects unpaid principal balance net of charge-offs.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2022

 

 

 

 

 

 

 

 

 

 

 

 

Average

 

 

 

Unpaid

 

 

 

 

 

 

 

 

Individually

 

 

 

Principal

 

 

Recorded

 

 

Related

 

 

Evaluated

 

(In thousands)

 

Balance

 

 

Investment (A)

 

 

Allowance

 

 

Loans

 

With no related allowance recorded:

 

 

 

 

 

 

 

 

 

 

 

 

Primary residential mortgage

 

$

415

 

 

$

374

 

 

$

—

 

 

$

249

 

Commercial and industrial

 

 

3,868

 

 

 

1,836

 

 

 

—

 

 

 

539

 

Lease financing

 

 

1,792

 

 

 

1,765

 

 

 

—

 

 

 

444

 

Total loans with no related allowance

 

$

6,075

 

 

$

3,975

 

 

$

—

 

 

$

1,232

 

With related allowance recorded:

 

 

 

 

 

 

 

 

 

 

 

 

Investment commercial real estate

 

$

12,500

 

 

$

11,208

 

 

$

1,208

 

 

$

12,402

 

Commercial and industrial

 

 

1,555

 

 

 

1,549

 

 

 

299

 

 

 

174

 

Total loans with related allowance

 

$

14,055

 

 

$

12,757

 

 

$

1,507

 

 

$

12,576

 

Total loans individually evaluated for impairment

 

$

20,130

 

 

$

16,732

 

 

$

1,507

 

 

$

13,808

 

(A) Reflects unpaid principal balance net of charge-offs.

 

 

 

 

 

 

 

 

 

 

 

 
Schedule of Activity in Allowance for Loan and Losses

The activity in the allowance for credit losses for the three months ended September 30, 2023 and September 30, 2022 is summarized below:

 

 

July 1,

 

 

 

 

 

 

 

 

 

 

 

September 30,

 

 

 

2023

 

 

 

 

 

 

 

 

 

 

 

2023

 

 

 

Beginning

 

 

 

 

 

 

 

 

Provision

 

 

Ending

 

(In thousands)

 

ACL

 

 

Charge-offs

 

 

Recoveries

 

 

(Credit) (A)

 

 

ACL

 

Primary residential mortgage

 

$

3,148

 

 

$

—

 

 

$

—

 

 

$

115

 

 

$

3,263

 

Junior lien loan on residence

 

 

151

 

 

 

—

 

 

 

—

 

 

 

3

 

 

 

154

 

Multifamily property

 

 

10,537

 

 

 

—

 

 

 

—

 

 

 

45

 

 

 

10,582

 

Owner-occupied commercial real estate

 

 

4,708

 

 

 

—

 

 

 

—

 

 

 

(46

)

 

 

4,662

 

Investment commercial real estate

 

 

13,548

 

 

 

—

 

 

 

—

 

 

 

(23

)

 

 

13,525

 

Commercial and industrial

 

 

27,433

 

 

 

—

 

 

 

—

 

 

 

4,701

 

 

 

32,134

 

Lease financing

 

 

2,063

 

 

 

—

 

 

 

—

 

 

 

904

 

 

 

2,967

 

Construction

 

 

421

 

 

 

—

 

 

 

—

 

 

 

131

 

 

 

552

 

Consumer and other loans

 

 

695

 

 

 

(57

)

 

 

1

 

 

 

114

 

 

 

753

 

Total ACL

 

$

62,704

 

 

$

(57

)

 

$

1

 

 

$

5,944

 

 

$

68,592

 

 

(A)
Provision to roll forward the ACL excludes a credit of $88,000 for off-balance sheet commitments.

 

 

 

July 1,

 

 

 

 

 

 

 

 

 

 

 

September 30,

 

 

 

2022

 

 

 

 

 

 

 

 

 

 

 

2022

 

 

 

Beginning

 

 

 

 

 

 

 

 

Provision

 

 

Ending

 

(In thousands)

 

ACL

 

 

Charge-offs

 

 

Recoveries

 

 

(Credit) (A)

 

 

ACL

 

Primary residential mortgage

 

$

2,154

 

 

$

—

 

 

$

15

 

 

$

110

 

 

$

2,279

 

Junior lien loan on residence

 

 

151

 

 

 

—

 

 

 

—

 

 

 

3

 

 

 

154

 

Multifamily property

 

 

15,790

 

 

 

—

 

 

 

—

 

 

 

(473

)

 

 

15,317

 

Owner-occupied commercial real estate

 

 

4,660

 

 

 

—

 

 

 

—

 

 

 

247

 

 

 

4,907

 

Investment commercial real estate

 

 

10,969

 

 

 

—

 

 

 

—

 

 

 

357

 

 

 

11,326

 

Commercial and industrial

 

 

20,998

 

 

 

—

 

 

 

—

 

 

 

840

 

 

 

21,838

 

Lease financing

 

 

3,352

 

 

 

—

 

 

 

—

 

 

 

(114

)

 

 

3,238

 

Construction

 

 

359

 

 

 

—

 

 

 

—

 

 

 

(231

)

 

 

128

 

Consumer and other loans

 

 

589

 

 

 

(19

)

 

 

—

 

 

 

(74

)

 

 

496

 

Total ACL

 

$

59,022

 

 

$

(19

)

 

$

15

 

 

$

665

 

 

$

59,683

 

 

(A)
Provision to roll forward the ACL excludes a credit of $66,000 for off-balance sheet commitments.

 

 

The activity in the allowance for credit losses for the nine months ended September 30, 2023 and 2022 is summarized below:

 

 

 

January 1,

 

 

 

 

 

 

 

 

 

 

 

September 30,

 

 

 

2023

 

 

 

 

 

 

 

 

 

 

 

2023

 

 

 

Beginning

 

 

 

 

 

 

 

 

Provision

 

 

Ending

 

(In thousands)

 

ACL

 

 

Charge-offs

 

 

Recoveries

 

 

(Credit) (A)

 

 

ACL

 

Primary residential mortgage

 

$

2,894

 

 

$

—

 

 

$

—

 

 

$

369

 

 

$

3,263

 

Junior lien loan on residence

 

 

154

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

154

 

Multifamily property

 

 

8,849

 

 

 

—

 

 

 

—

 

 

 

1,733

 

 

 

10,582

 

Owner-occupied commercial real estate

 

 

4,835

 

 

 

—

 

 

 

—

 

 

 

(173

)

 

 

4,662

 

Investment commercial real estate

 

 

15,480

 

 

 

(1,199

)

 

 

—

 

 

 

(756

)

 

 

13,525

 

Commercial and industrial

 

 

25,530

 

 

 

—

 

 

 

—

 

 

 

6,604

 

 

 

32,134

 

Lease financing

 

 

2,314

 

 

 

—

 

 

 

—

 

 

 

653

 

 

 

2,967

 

Construction

 

 

236

 

 

 

—

 

 

 

—

 

 

 

316

 

 

 

552

 

Consumer and other loans

 

 

537

 

 

 

(118

)

 

 

6

 

 

 

328

 

 

 

753

 

Total ACL

 

$

60,829

 

 

$

(1,317

)

 

$

6

 

 

$

9,074

 

 

$

68,592

 

 

(A)
Provision to roll forward the ACL excludes a credit of $9,000 for off-balance sheet commitments.

 

 

 

December 31,

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2021

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Prior to

 

 

 

 

 

 

 

 

 

 

 

 

 

 

September 30,

 

 

 

Adoption

 

 

Impact of

 

 

 

 

 

 

 

 

 

 

 

2022

 

 

 

of

 

 

Adopting

 

 

 

 

 

 

 

 

Provision

 

 

Ending

 

(In thousands)

 

Topic 326

 

 

Topic 326

 

 

Charge-offs

 

 

Recoveries

 

 

(Credit) (A)

 

 

ACL

 

Primary residential mortgage

 

$

1,510

 

 

$

717

 

 

$

—

 

 

$

15

 

 

$

37

 

 

$

2,279

 

Junior lien loan on residence

 

 

88

 

 

 

83

 

 

 

(3

)

 

 

—

 

 

 

(14

)

 

 

154

 

Multifamily property

 

 

9,806

 

 

 

4,072

 

 

 

—

 

 

 

—

 

 

 

1,439

 

 

 

15,317

 

Owner-occupied commercial real estate

 

 

1,998

 

 

 

2,902

 

 

 

—

 

 

 

—

 

 

 

7

 

 

 

4,907

 

Investment commercial real estate

 

 

27,083

 

 

 

(13,589

)

 

 

(250

)

 

 

—

 

 

 

(1,918

)

 

 

11,326

 

Commercial and industrial

 

 

17,509

 

 

 

(657

)

 

 

—

 

 

 

4

 

 

 

4,982

 

 

 

21,838

 

Lease financing

 

 

3,440

 

 

 

156

 

 

 

—

 

 

 

—

 

 

 

(358

)

 

 

3,238

 

Construction

 

 

48

 

 

 

361

 

 

 

—

 

 

 

—

 

 

 

(281

)

 

 

128

 

Consumer and other loans

 

 

215

 

 

 

419

 

 

 

(46

)

 

 

2

 

 

 

(94

)

 

 

496

 

Total ACL

 

$

61,697

 

 

$

(5,536

)

 

$

(299

)

 

$

21

 

 

$

3,800

 

 

$

59,683

 

 

(A)
Provision to roll forward the ACL excludes a provision of $623,000 for off-balance sheet commitments.
Schedule of Activity in ACL for Off Balance Sheet Commitments

The following tables present the activity in the ACL for off-balance sheet commitments for the three months ended September 30, 2023 and 2022:

 

 

 

July 1,

 

 

 

 

 

 

 

 

 

2023

 

 

 

 

 

September 30,

 

 

 

Beginning

 

 

Provision

 

 

2023

 

(In thousands)

 

ACL

 

 

(Credit)

 

 

Ending ACL

 

Off balance sheet commitments

 

$

831

 

 

$

(88

)

 

$

743

 

Total ACL

 

$

831

 

 

$

(88

)

 

$

743

 

 

 

 

July 1,

 

 

 

 

 

 

 

 

 

2022

 

 

 

 

 

September 30,

 

 

 

Beginning

 

 

Provision

 

 

2022

 

(In thousands)

 

ACL

 

 

(Credit)

 

 

Ending ACL

 

Off balance sheet commitments

 

$

991

 

 

$

(66

)

 

$

925

 

Total ACL

 

$

991

 

 

$

(66

)

 

$

925

 

 

The following tables present the activity in the ACL for off-balance sheet commitments for the nine months ended September 30, 2023 and 2022:

 

 

 

January 1,

 

 

 

 

 

 

 

 

 

2023

 

 

 

 

 

September 30,

 

 

 

Beginning

 

 

Provision

 

 

2023

 

(In thousands)

 

ACL

 

 

(Credit)

 

 

Ending ACL

 

Off balance sheet commitments

 

$

752

 

 

$

(9

)

 

$

743

 

Total ACL

 

$

752

 

 

$

(9

)

 

$

743

 

 

 

 

December 31,

 

 

 

 

 

 

 

 

 

 

 

 

2021

 

 

 

 

 

 

 

 

September 30,

 

 

 

Prior to adoption

 

 

Impact of

 

 

Provision

 

 

2022

 

(In thousands)

 

of Topic 326

 

 

adopting Topic 326

 

 

(Credit)

 

 

Ending ACL

 

Off balance sheet commitments

 

$

—

 

 

$

302

 

 

$

623

 

 

$

925

 

Total ACL

 

$

—

 

 

$

302

 

 

$

623

 

 

$

925