XML 49 R34.htm IDEA: XBRL DOCUMENT v3.8.0.1
LOANS (Tables)
 12 Months Ended
Dec. 31, 2017
Receivables [Abstract]  
Schedule of composition of loans categorized by the type of loan

The following table presents loans outstanding, by type of loan, as of December 31:

 

       % of Total       % of Total 
(Dollars in thousands)  2017   Loans   2016   Loans 
Residential mortgage  $576,356    15.56%  $527,370    15.92%
Multifamily mortgage   1,388,958    37.49    1,459,594    44.07 
Commercial mortgage   626,656    16.92    551,233    16.65 
Commercial loans   958,294    25.87    636,714    19.23 
Construction loans   —    —    1,405    0.04 
Home equity lines of credit   67,497    1.82    65,682    1.98 
Consumer loans, including                    
  fixed rate home equity loans   86,277    2.33    69,654    2.10 
Other loans   402    0.01    492    0.01 
    Total loans  $3,704,440    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 December 31:

 

       % of Total       % of Total 
(Dollars in thousands)  2017   Loans   2016   Loans 
Primary residential mortgage  $605,569    16.35%  $557,970    16.86%
Home equity lines of credit   67,497    1.82    65,683    1.98 
Junior lien loan on residence   7,073    0.19    9,206    0.28 
Multifamily property   1,388,958    37.51    1,459,594    44.09 
Owner-occupied commercial                    
  real estate   253,492    6.85    176,123    5.32 
Investment commercial real estate   874,098    23.61    752,258    22.73 
Commercial and industrial   316,294    8.54    213,983    6.47 
Lease financing   90,052    2.43    —    — 
Farmland/Agricultural production   160    0.01    169    0.01 
Commercial construction   92    0.01    1,497    0.04 
Consumer and other   99,247    2.68    73,621    2.22 
   Total loans  $3,702,532    100.00%  $3,310,104    100.00%
Net deferred costs   1,908         2,040      
   Total loans including                    
      net deferred costs  $3,704,440        $3,312,144      
Schedule of loans to executives and directors

The following table shows the changes in loans to officers, directors or their associates:

 

(In thousands)  2017   2016 
Balance, beginning of year  $4,788   $4,280 
New loans   511    1,329 
Repayments   (611)   (697)
Loans with individuals no longer considered related parties   —    (124)
Balance, at end of year  $4,688   $4,788 
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 segment, based on impairment method, and the corresponding balances in the allowance for loan losses as of December 31, 2017 and 2016:

 

December 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   ALLL 
Primary residential                              
   mortgage  $9,802   $482   $595,767   $3,603   $605,569   $4,085 
Home equity lines                              
   of credit   27    —    67,470    221    67,497    221 
Junior lien loan                              
   on residence   52    —    7,021    12    7,073    12 
Multifamily                              
   property   —    —    1,388,958    10,007    1,388,958    10,007 
Owner-occupied                              
   commercial                              
   real estate   2,503    —    250,989    2,385    253,492    2,385 
Investment                              
   commercial                              
   real estate   10,681    40    863,417    11,893    874,098    11,933 
Commercial and                              
   industrial   —    —    316,294    6,563    316,294    6,563 
Lease financing   —    —    90,052    884    90,052    884 
Secured by                              
   farmland and                              
  agricultural                              
   production   —    —    160    —    160    — 
Commercial                              
   construction   —    —    92    1    92    1 
Consumer and                              
   other   —    —    99,247    349    99,247    349 
Total ALLL  $23,065   $522   $3,679,467   $35,918   $3,702,532   $36,440 

 

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   —    —    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 
Schedule of loans individually evaluated for impairment

The following tables present loans individually evaluated for impairment by class of loans as of December 31, 2017 and 2016:

 

   December 31, 2017 
   Unpaid           Average 
   Principal   Recorded   Specific   Impaired 
(In thousands)  Balance   Investment   Reserves   Loans 
With no related allowance recorded:                    
  Primary residential mortgage  $9,607   $8,388   $—   $10,847 
  Owner-occupied commercial real estate   3,238    2,503    —    1,568 
  Investment commercial real estate   9,564    9,500    —    9,971 
  Home equity lines of credit   29    27    —    38 
  Junior lien loan on residence   110    52    —    92 
    Total loans with no related allowance  $22,548   $20,470   $—   $22,516 
With related allowance recorded:                    
  Primary residential mortgage  $1,435   $1,414   $482   $1,399 
  Investment commercial real estate   1,181    1,181    40    1,198 
    Total loans with related allowance  $2,616   $2,595   $522   $2,597 
Total loans individually evaluated                    
  for impairment  $25,164   $23,065   $522   $25,113 

 

   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

The following tables present the recorded investment in nonaccrual and loans past due over 90 days still on accrual by class of loans as of December 31, 2017 and 2016:

 

   December 31, 2017 
       Loans Past Due Over 
       90 Days and Still 
(In thousands)  Nonaccrual   Accruing Interest 
Primary residential mortgage  $6,056   $— 
Home equity lines of credit   6    — 
Junior lien loan on residence   52    — 
Owner-occupied commercial real estate   2,503    — 
Investment commercial real estate   4,913    — 
  Total  $13,530   $— 

 

   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

The following tables present the recorded investment in past due loans as of December 31, 2017 and 2016 by class of loans, excluding nonaccrual loans:

 

   December 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  $216   $—   $—   $216 
Consumer and other   30    —    —    30 
  Total  $246   $—   $—   $246 

 

   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

The table below presents, based on the most recent analysis performed, the risk category of loans by class of loans for December 31, 2017 and 2016.

December 31, 2017

       Special         
(In thousands)  Pass   Mention   Substandard   Doubtful 
Primary residential mortgage  $594,846   $866   $9,857   $— 
Home equity lines of credit   67,470    —    27    — 
Junior lien loan on residence   7,021    —    52    — 
Multifamily property   1,371,825    16,755    378    — 
Owner-occupied commercial real estate   249,003    837    3,652    — 
Investment commercial real estate   827,558    23,377    23,163    — 
Commercial and industrial   306,341    7,488    2,465    — 
Lease financing   90,052    —    —    — 
Secured by farmland and agricultural   160    —    —    — 
Commercial construction   —    92    —    — 
Consumer and other loans   97,135    —    2,112    — 
  Total  $3,611,411   $49,415   $41,706   $— 

 

December 31, 2016

       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 Activity in Allowance for Loan and Lease Losses

The tables below present a roll forward of the allowance for loan losses for the years ended December 31, 2017, 2016 and 2015.

 

   January 1,               December 31, 
   2017               2017 
   Beginning           Provision   Ending 
(In thousands)  ALLL   Charge-Offs   Recoveries   (Credit)   ALLL 
Primary residential mortgage  $3,666   $(889)  $173   $1,135   $4,085 
Home equity lines of credit   233    (23)   62    (51)   221 
Junior lien loan on residence   16    (99)   26    69    12 
Multifamily property   11,192    —    —    (1,185)   10,007 
Owner-occupied commercial                         
  real estate   1,774    (734)   —    1,345    2,385 
Investment commercial real estate   10,909    (123)   23    1,124    11,933 
Commercial and industrial   4,164    (76)   115    2,360    6,563 
Lease financing   —    —    —    884    884 
Secured by farmland and agricultural   2    —    —    (2)   — 
Commercial construction   9    —    —    (8)   1 
Consumer and other   243    (77)   4    179    349 
    Total ALLL  $32,208   $(2,021)  $403   $5,850   $36,440 

 

   January 1,               December 31, 
   2016               2016 
   Beginning           Provision   Ending 
(In thousands)  ALLL   Charge-Offs   Recoveries   (Credit)   ALLL 
Primary residential mortgage  $2,297   $(1,047)  $28   $2,388   $3,666 
Home equity lines of credit   86    (91)   15    223    233 
Junior lien loan on residence   66    —    140    (190)   16 
Multifamily property   11,813    —    —    (621)   11,192 
Owner-occupied commercial                         
  real estate   1,679    (11)   72    34    1,774 
Investment commercial real estate   7,590    (520)   246    3,593    10,909 
Commercial and industrial   2,209    (16)   29    1,942    4,164 
Secured by farmland and agricultural   2    —    —    —    2 
Commercial construction   2    —    —    7    9 
Consumer and other   112    (5)   12    124    243 
    Total ALLL  $25,856   $(1,690)  $542   $7,500   $32,208 

 

   January 1,               December 31, 
   2015               2015 
   Beginning           Provision   Ending 
(In thousands)  ALLL   Charge-Offs   Recoveries   (Credit)   ALLL 
Primary residential mortgage  $2,923   $(638)  $80   $(68)  $2,297 
Home equity lines of credit   156    (210)   2    138    86 
Junior lien loan on residence   109    (13)   62    (92)   66 
Multifamily property   8,983    —    —    2,830    11,813 
Owner-occupied commercial                         
  real estate   1,547    —    11    121    1,679 
Investment commercial real estate   4,751    (16)   18    2,837    7,590 
Commercial and industrial   880    (73)   81    1,321    2,209 
Secured by farmland and agricultural   4    —    —    (2)   2 
Commercial construction   31    —    —    (29)   2 
Consumer and other   96    (41)   13    44    112 
    Total ALLL  $19,480   $(991)  $267   $7,100   $25,856 
Schedule of loans modified as troubled debt restructurings

The following table presents loans by class modified as troubled debt restructurings that occurred during the year ended December 31, 2017:

 

       Pre-Modification   Post-Modification 
       Outstanding   Outstanding 
   Number of   Recorded   Recorded 
(Dollars in thousands)  Contracts   Investment   Investment 
Primary residential mortgage   6   $1,223   $1,223 
  Total   6   $1,223   $1,223 

 

The following table presents loans by class modified as troubled debt restructurings that occurred during the year ended December 31, 2016:

       Pre-Modification   Post-Modification 
       Outstanding   Outstanding 
   Number of   Recorded   Recorded 
(Dollars in thousands)  Contracts   Investment   Investment 
Primary residential mortgage   7   $4,691   $4,691 
Junior lien loan on residence   1    63    63 
Commercial and industrial   1    26    26 
  Total   9   $4,780   $4,780 

 

The following table presents loans by class modified as troubled debt restructurings that occurred during the year ended December 31, 2015:

 

       Pre-Modification   Post-Modification 
       Outstanding   Outstanding 
   Number of   Recorded   Recorded 
(Dollars in thousands)  Contracts   Investment   Investment 
Primary residential mortgage   11   $3,296   $3,296 
Junior lien loan on residence   1    58    58 
Investment commercial real estate   1    750    750 
  Total   13   $4,104   $4,104 

 

The following table presents loans by class modified as troubled debt restructurings during the year ended December 31, 2017 for which there was a payment default during the same period:

 

   Number of   Recorded 
(Dollars in thousands)  Contracts   Investment 
Primary residential mortgage   1   $336 
  Total   1   $336 

 

The following table presents loans by class modified as troubled debt restructurings during the year ended December 31, 2016 for which there was a payment default during the same period:

 

   Number of   Recorded 
(Dollars in thousands)  Contracts   Investment 
Primary residential mortgage   1   $269 
  Total   1   $269