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LOANS (Tables)
 3 Months Ended
Mar. 31, 2017
Receivables [Abstract]  
Schedule of composition of loans categorized by the type of loan

Loans outstanding, excluding those held for sale, by general ledger classification, as of March 31, 2017 and December 31, 2016, consisted of the following:

 

       % of       % of 
   March 31,   Totals   December 31,   Total 
(In thousands)  2017   Loans   2016   Loans 
Residential mortgage  $571,496    16.61%  $527,370    15.92%
Multifamily mortgage   1,468,890    42.71    1,459,594    44.07 
Commercial mortgage   573,253    16.67    551,233    16.65 
Commercial loans   687,677    19.99    636,714    19.23 
Construction loans   —    —    1,405    0.04 
Home equity lines of credit   68,055    1.98    65,682    1.98 
Consumer loans, including fixed                    
   rate home equity loans   69,802    2.03    69,654    2.10 
Other loans   477    0.01    492    0.01 
   Total loans  $3,439,650    100.00%  $3,312,144    100.00%

 

In determining an appropriate amount for the allowance, the Bank segments and evaluates the loan portfolio based on federal call report codes. The following portfolio classes have been identified as of March 31, 2017 and December 31, 2016:

 

       % of       % of 
   March 31,   Totals   December 31,   Total 
(In thousands)  2017   Loans   2016   Loans 
Primary residential mortgage  $602,436    17.52%  $557,970    16.86%
Home equity lines of credit   68,055    1.98    65,683    1.98 
Junior lien loan on residence   8,487    0.24    9,206    0.28 
Multifamily property   1,468,890    42.72    1,459,594    44.09 
Owner-occupied commercial real estate   211,573    6.15    176,123    5.32 
Investment commercial real estate   790,190    22.98    752,258    22.73 
Commercial and industrial   214,463    6.24    213,983    6.47 
Farmland/agricultural production   166    0.01    169    0.01 
Commercial construction loans   96    0.01    1,497    0.04 
Consumer and other loans   73,880    2.15    73,621    2.22 
   Total loans  $3,438,236    100.00%  $3,310,104    100.00%
Net deferred costs   1,414         2,040      
   Total loans including net deferred costs  $3,439,650        $3,312,144      
                     

 
Schedule of loan balances by portfolio segment, based on impairment method, and the corresponding balances in the allowance for loan losses

The following tables present the loan balances by portfolio class, based on impairment method, and the corresponding balances in the allowance for loan losses (ALLL) as of March 31, 2017 and December 31, 2016:

 

   March 31, 2017 
   Total   Ending ALLL   Total   Ending ALLL         
   Loans   Attributable   Loans   Attributable         
   Individually   To Loans   Collectively   To Loans         
   Evaluated   Individually   Evaluated   Collectively       Total 
   For   Evaluated for   For   Evaluated for   Total   Ending 
(In thousands)  Impairment   Impairment   Impairment   Impairment   Loans   ALL 
Primary residential                              
   mortgage  $13,556   $475   $588,880   $3,453   $602,436   $3,928 
Home equity lines                              
   of credit   53    —    68,002    231    68,055    231 
Junior lien loan                              
   on residence   111    —    8,376    15    8,487    15 
Multifamily                              
   property   —    —    1,468,890    11,767    1,468,890    11,767 
Owner-occupied                              
  commercial                              
   real estate   1,461    —    210,112    2,235    211,573    2,235 
Investment                              
   commercial                              
   real estate   11,297    211    778,893    10,672    790,190    10,883 
Commercial and                              
   industrial   68    68    214,395    4,244    214,463    4,312 
Secured by                              
   farmland and                              
   agricultural                              
   production   —    —    166    2    166    2 
Commercial                              
   construction   —    —    96    1    96    1 
Consumer and                              
   Other   —    —    73,880    236    73,880    236 
Total ALLL  $26,546   $754   $3,411,690   $32,856   $3,438,236   $33,610 

 

   December 31, 2016 
   Total   Ending ALLL   Total   Ending ALLL         
   Loans   Attributable   Loans   Attributable         
   Individually   To Loans   Collectively   To Loans         
   Evaluated   Individually   Evaluated   Collectively       Total 
   For   Evaluated for   For   Evaluated for   Total   Ending 
(In thousands)  Impairment   Impairment   Impairment   Impairment   Loans   ALLL 
Primary residential                              
  mortgage  $15,814   $456   $542,156   $3,210   $557,970   $3,666 
Home equity lines                              
   of credit   53    —    65,630    233    65,683    233 
Junior lien loan                              
   on residence   229    —    8,977    16    9,206    16 
Multifamily                              
   Property   —    —    1,459,594    11,192    1,459,594    11,192 
Owner-occupied                              
   Commercial                              
   real estate   1,486    —    174,637    1,774    176,123    1,774 
Investment                              
   commercial                              
   real estate   11,335    214    740,923    10,695    752,258    10,909 
Commercial and                              
   Industrial   154    154    213,829    4,010    213,983    4,164 
Secured by                              
   farmland and                              
   agricultural production                              
   production   —    —    169    2    169    2 
Commercial                              
   construction   —    —    1,497    9    1,497    9 
Consumer and                              
   Other   —    —    73,621    243    73,621    243 
Total ALLL  $29,071   $824   $3,281,033   $31,384   $3,310,104   $32,208 

  

The activity in the allowance for loan losses for the three months ended March 31, 2017 is summarized below:

   January 1,               March 31, 
   2017               2017 
   Beginning           Provision   Ending 
(In thousands)  ALLL   Charge-offs   Recoveries   (Credit)   ALLL 
Primary residential mortgage  $3,666   $(138)  $1   $399   $3,928 
Home equity lines of credit   233    —    4    (6)   231 
Junior lien loan on residence   16    (57)   6    50    15 
Multifamily property   11,192    —    —    575    11,767 
Owner-occupied commercial real estate   1,774    —    —    461    2,235 
Investment commercial real estate   10,909    —    4    (30)   10,883 
Commercial and industrial   4,164    (24)   9    163    4,312 
Secured by farmland and agricultural   2    —    —    —    2 
Commercial construction   9    —    —    (8)   1 
Consumer and other loans   243    (3)   —    (4)   236 
Total ALLL  $32,208   $(222)  $24   $1,600   $33,610 

 

The activity in the allowance for loan losses for the three months ended March 31, 2016 is summarized below:

   January 1,               March 31, 
   2016               2016 
   Beginning           Provision   Ending 
(In thousands)  ALLL   Charge-offs   Recoveries   (Credit)   ALLL 
Primary residential mortgage  $2,297   $(13)  $14   $205   $2,503 
Home equity lines of credit   86    —    2    45    133 
Junior lien loan on residence   66    —    17    (70)   13 
Multifamily property   11,813    —    —    (182)   11,631 
Owner-occupied commercial real estate   1,679    —    —    4    1,683 
Investment commercial real estate   7,590    (258)   2    1,193    8,527 
Commercial and industrial   2,209    (3)   4    481    2,691 
Secured by farmland and agricultural production   2    —    —    —    2 
Commercial construction   2    —    —    —    2 
Consumer and other loans   112    (1)   1    24    136 
Total ALLL  $25,856   $(275)  $40   $1,700   $27,321 
Schedule of loans individually evaluated for impairment

 

   March 31, 2017 
   Unpaid           Average 
   Principal   Recorded   Specific   Impaired 
(In thousands)  Balance   Investment   Reserves   Loans 
With no related allowance recorded:                    
   Primary residential mortgage  $11,160   $9,741   $—   $8,993 
   Owner-occupied commercial real estate   1,586    1,461    —    1,473 
   Investment commercial real estate   9,682    9,682    —    9,692 
   Home equity lines of credit   55    53    —    53 
   Junior lien loan on residence   164    111    —    80 
     Total loans with no related allowance  $22,647   $21,048   $—   $20,307 
With related allowance recorded:                    
   Primary residential mortgage  $4,363   $3,815   $475   $3,810 
   Investment commercial real estate   1,632    1,615    211    1,618 
   Commercial and industrial   120    68    68    108 
     Total loans with related allowance  $6,115   $5,498   $754   $5,536 
Total loans individually evaluated for                    
   Impairment  $28,762   $26,546   $754   $25,843 

 

   December 31, 2016 
   Unpaid           Average 
   Principal   Recorded   Specific   Impaired 
(In thousands)  Balance   Investment   Reserves   Loans 
With no related allowance recorded:                    
   Primary residential mortgage  $16,015   $14,090   $—   $10,038 
   Owner-occupied commercial real estate   1,597    1,486    —    1,450 
   Investment commercial real estate   9,711    9,711    —    9,974 
   Home equity lines of credit   56    53    —    143 
   Junior lien loan on residence   280    229    —    339 
     Total loans with no related allowance  $27,659   $25,569   $—   $21,944 
With related allowance recorded:                    
   Primary residential mortgage  $1,787   $1,724   $456   $1,678 
   Investment commercial real estate   1,640    1,624    214    1,642 
   Commercial and industrial   204    154    154    145 
     Total loans with related allowance  $3,631   $3,502   $824   $3,465 
Total loans individually evaluated for                    
   impairment  $31,290   $29,071   $824   $25,409 
Schedule of recorded investment in nonaccrual and loans past due over 90 days still on accrual

   March 31, 2017 
       Loans Past Due 
       Over 90 Days 
       And Still 
(In thousands)  Nonaccrual   Accruing Interest 
Primary residential mortgage  $9,415   $— 
Home equity lines of credit   30    — 
Junior lien loan on residence   112    — 
Owner-occupied commercial real estate   1,461    — 
Investment commercial real estate   408    — 
Commercial and industrial   68    — 
Total  $11,494   $— 

 

   December 31, 2016 
       Loans Past Due 
       Over 90 Days 
       And Still 
(In thousands)  Nonaccrual   Accruing Interest 
Primary residential mortgage  $9,071   $— 
Home equity lines of credit   30    — 
Junior lien loan on residence   115    — 
Owner-occupied commercial real estate   1,486    — 
Investment commercial real estate   408    — 
Commercial and industrial   154    — 
Total  $11,264   $— 
Schedule of aging of past due loans

   March 31, 2017 
   30-59   60-89   Greater Than     
   Days   Days   90 Days   Total 
(In thousands)  Past Due   Past Due   Past Due   Past Due 
Primary residential mortgage  $622   $—   $—   $622 
   Total  $622   $—   $—   $622 

 

     
   December 31, 2016 
   30-59   60-89   Greater Than     
   Days   Days   90 Days   Total 
(In thousands)  Past Due   Past Due   Past Due   Past Due 
Primary residential mortgage  $620   $480   $—   $1,100 
Junior lien loan on residence   —    25    —    25 
Owner-occupied commercial real estate   209    —    —    209 
Commercial and industrial   22    —    —    22 
   Total  $851   $505   $—   $1,356 
                     
Schedule of the risk category of loans by class of loans

       Special         
(In thousands)  Pass   Mention   Substandard   Doubtful 
Primary residential mortgage  $587,994   $751   $13,691   $— 
Home equity lines of credit   68,002    —    53    — 
Junior lien loan on residence   8,375    —    112    — 
Multifamily property   1,464,262    4,234    394    — 
Owner-occupied commercial real estate   206,478    —    5,095    — 
Investment commercial real estate   762,376    5,025    22,789    — 
Commercial and industrial   209,164    4,430    869    — 
Farmland   166    —    —    — 
Commercial construction   —    96    —    — 
Consumer and other loans   73,880    —    —    — 
   Total  $3,380,697   $14,536   $43,003   $— 

 

As of December 31, 2016, and based on the most recent analysis performed, the risk category of loans by class of loans is as follows:

       Special         
(In thousands)  Pass   Mention   Substandard   Doubtful 
Primary residential mortgage  $541,359   $660   $15,951   $— 
Home equity lines of credit   65,630    —    53    — 
Junior lien loan on residence   8,977    —    229    — 
Multifamily property   1,456,328    2,867    399    — 
Owner-occupied commercial real estate   170,851    —    5,272    — 
Investment commercial real estate   724,203    5,116    22,939    — 
Commercial and industrial   208,617    4,411    955    — 
Secured by farmland and agricultural   169    —    —    — 
Commercial construction   1,400    97    —    — 
Consumer and other loans   73,621    —    —    — 
   Total  $3,251,155   $13,151   $45,798   $— 
Schedule of loans modified as troubled debt restructurings

The following table presents loans by class modified as TDRs during the three month period ended March 31, 2017:

 

       Pre-Modification   Post-Modification 
       Outstanding   Outstanding 
   Number of   Recorded   Recorded 
(Dollars in thousands)  Contracts   Investment   Investment 
Primary residential mortgage   3   $611   $611 
   Total   3   $611   $611 

 

The identification of the TDRs did not have a significant impact on the allowance for loan losses.

 

The following table presents loans by class modified as TDRs during the three month period ended March 31, 2016:

 

       Pre-Modification   Post-Modification 
       Outstanding   Outstanding 
   Number of   Recorded   Recorded 
(Dollars in thousands)  Contracts   Investment   Investment 
Primary residential mortgage   2   $1,133   $1,133 
   Total   2   $1,133   $1,133