LOANS AND ALLOWANCE FOR LOAN LOSSES (Tables)

9 Months Ended

Sep. 30, 2020

LOANS AND ALLOWANCE FOR LOAN LOSSES

Schedule of Net loans

	September 30, 2020		December 31, 2019
Real estate
Commercial	$	1,842,969	$	1,668,236
Construction		100,957		30,827
Multifamily		407,802		375,611
One-to-four family		63,588		82,670
Total real estate loans		2,415,316		2,157,344
Commercial and industrial		528,063		448,619
Consumer		51,419		71,956
Total loans		2,994,798		2,677,919
Deferred fees		(5,248)		(4,970)
Loans, net of deferred fees and unamortized costs		2,989,550		2,672,949
Allowance for loan losses		(33,614)		(26,272)
Balance at the end of the period	$	2,955,936	$	2,646,677

Schedule of changes in the allowance for loan losses by portfolio segment

	Commercial		Commercial				Multi		One-to-four
Three months ended September 30, 2020	Real Estate		& Industrial		Construction		Family		Family		Consumer		Total
Allowance for loan losses:
Beginning balance	$	18,690	$	9,132	$	741	$	2,739	$	242	$	961	$	32,505
Provision/(credit) for loan losses		(1,611)		2,104		706		(215)		(61)		214		1,137
Loans charged-off		—		(82)		—		—		—		—		(82)
Recoveries		—		54		—		—		—		—		54
Total ending allowance balance	$	17,079	$	11,208	$	1,447	$	2,524	$	181	$	1,175	$	33,614

	Commercial		Commercial				Multi		One-to-four
Three months ended September 30, 2019	Real Estate		& Industrial		Construction		Family		Family		Consumer		Total
Allowance for loan losses:
Beginning balance	$	13,006	$	6,142	$	501	$	2,249	$	253	$	564	$	22,715
Provision/(credit) for loan losses		1,223		422		6		104		(31)		280		2,004
Loans charged-off		—		(74)		—		—		—		(201)		(275)
Recoveries		—		—		—		—		—		—		—
Total ending allowance balance	$	14,229	$	6,490	$	507	$	2,353	$	222	$	643	$	24,444

	Commercial		Commercial				Multi		One-to-four
Nine months ended September 30, 2020	Real Estate		& Industrial		Construction		Family		Family		Consumer		Total
Allowance for loan losses:
Beginning balance	$	15,317	$	7,070	$	411	$	2,453	$	267	$	754	$	26,272
Provision/(credit) for loan losses		1,762		4,278		1,036		71		(86)		632		7,693
Loans charged-off		—		(254)		—		—		—		(221)		(475)
Recoveries		—		114		—		—		—		10		124
Total ending allowance balance	$	17,079	$	11,208	$	1,447	$	2,524	$	181	$	1,175	$	33,614

	Commercial		Commercial				Multi		One-to-four
Nine months ended September 30, 2019	Real Estate		& Industrial		Construction		Family		Family		Consumer		Total
Allowance for loan losses:
Beginning balance	$	9,037		6,257		625		2,047		228		748	$	18,942
Provision/(credit) for loan losses		5,192		(3,677)		(118)		306		(6)		226		1,923
Loans charged-off		—		(360)		—		—		—		(331)		(691)
Recoveries		—		4,270		—		—		—		—		4,270
Total ending allowance balance	$	14,229	$	6,490	$	507	$	2,353	$	222	$	643	$	24,444

Schedule of allowance for loan losses and the recorded investment in loans by portfolio segment

The following tables present the balance in the ALLL and the recorded investment in loans by portfolio segment based on impairment method as of September 30, 2020 and December 31, 2019 (in thousands):

	Commercial		Commercial				Multi		One-to-four
At September 30, 2020	Real Estate		& Industrial		Construction		Family		Family		Consumer		Total
Allowance for loan losses:
Individually evaluated for impairment	$	—	$	3,437	$	—	$	—	$	51	$	775	$	4,263
Collectively evaluated for impairment		17,079		7,771		1,447		2,524		130		400		29,351
Total ending allowance balance	$	17,079	$	11,208	$	1,447	$	2,524	$	181	$	1,175	$	33,614
Loans:
Individually evaluated for impairment	$	363	$	4,512	$	—	$	—	$	1,008	$	2,298	$	8,181
Collectively evaluated for impairment		1,842,606		523,551		100,957		407,802		62,580		49,121		2,986,617
Total ending loan balance	$	1,842,969	$	528,063	$	100,957	$	407,802	$	63,588	$	51,419	$	2,994,798

	Commercial		Commercial				Multi		One-to-four
At December 31, 2019	Real Estate		& Industrial		Construction		Family		Family		Consumer		Total
Allowance for loan losses:
Individually evaluated for impairment	$	—	$	805	$	—	$	—	$	64	$	311	$	1,180
Collectively evaluated for impairment		15,317		6,265		411		2,453		203		443		25,092
Total ending allowance balance	$	15,317	$	7,070	$	411	$	2,453	$	267	$	754	$	26,272
Loans:
Individually evaluated for impairment	$	367	$	1,047	$	—	$	—	$	3,384	$	728	$	5,526
Collectively evaluated for impairment		1,667,869		447,572		30,827		375,611		79,286		71,228		2,672,393
Total ending loan balance	$	1,668,236	$	448,619	$	30,827	$	375,611	$	82,670	$	71,956	$	2,677,919

Schedule of loans determined to be impaired by class of loans

	Unpaid Principal				Allowance for Loan
At September 30, 2020	Balance		Recorded Investment		Losses Allocated
With an allowance recorded:
One-to-four family	$	615	$	485	$	51
Consumer		2,298		2,298		775
Commercial & industrial		4,512		4,512		3,437
Total	$	7,425	$	7,295	$	4,263
Without an allowance recorded:
One-to-four family	$	671	$	523	$	—
Commercial real estate		363		363		—
Commercial & industrial		—		—		—
Total	$	1,034	$	886	$	—

	Unpaid Principal				Allowance for Loan
At December 31, 2019	Balance		Recorded Investment		Losses Allocated
With an allowance recorded:
One-to-four family	$	633	$	503	$	64
Consumer		731		728		311
Commercial & industrial		1,047		1,047		805
Total	$	2,411	$	2,278	$	1,180
Without an allowance recorded:
One-to-four family		3,028	$	2,881	$	—
Commercial real estate		367		367		—
Total	$	3,395	$	3,248	$	—

Schedule of average recorded investment and interest income of loans

	Average Recorded		Interest Income
Three months ended September 30, 2020	Investment		Recognized
With an allowance recorded:
One-to-four family	$	488	$	5
Consumer		2,112		27
Commercial & industrial		5,497		—
Total	$	8,097	$	32
Without an allowance recorded:
One-to-four family	$	524	$	3
Commercial real estate		363		—
Total	$	887	$	3

	Average Recorded		Interest Income
Three months ended September 30, 2019	Investment		Recognized
With an allowance recorded:
One-to-four family	$	513	$	5
Consumer		316		3
Commercial & industrial		524		—
Total	$	1,353	$	8
Without an allowance recorded:
One-to-four family	$	2,907	$	66
Commercial real estate		373		4
Total	$	3,280	$	70

	Average Recorded		Interest Income
Nine months ended September 30, 2020	Investment		Recognized
With an allowance recorded:
One-to-four family	$	494	$	13
Consumer		1,330		58
Commercial & industrial		3,272		—
Total	$	5,096	$	71
Without an allowance recorded:
One-to-four family	$	1,115	$	13
Commercial real estate		364		4
Commercial & industrial		1,188		—
Total	$	2,667	$	17

	Average Recorded		Interest Income
Nine months ended September 30, 2019	Investment		Recognized
With an allowance recorded:
One-to-four family	$	388	$	15
Consumer		207		7
Commercial & industrial		262		—
Total	$	857	$	22
Without an allowance recorded:
One-to-four family	$	1,859	$	156
Commercial real estate		377		12
Total	$	2,236	$	168

Schedule of recorded investment in non-accrual loans, loans past due over 90 days and still accruing by class of loans

At September 30, 2020	Non-accrual		Loans Past Due Over 90 Days Still Accruing
Commercial & industrial	$	4,512	$	—
Consumer		1,157		954
Total	$	5,669	$	954

At December 31, 2019	Non-accrual			Loans Past Due Over 90 Days Still Accruing
Commercial & industrial	$	1,047	$	408
One-to-four family		2,345		—
Consumer		693		—
Total	$	4,085	$	408

Schedule of aging of the recorded investment in past due loans by class of loans

					Greater
	30-59		60-89		than 90		Total past		Current
At September 30, 2020	Days		Days		days		due		loans		Total
Commercial real estate	$	—	$	—	$	—	$	—	$	1,842,969	$	1,842,969
Commercial & industrial		3,642		6,665		4,512		14,819		513,244		528,063
Construction		—		—		—		—		100,957		100,957
Multifamily		—		—		—		—		407,802		407,802
One-to-four family		615		—		—		615		62,973		63,588
Consumer		83		25		2,111		2,219		49,200		51,419
Total	$	4,340	$	6,690	$	6,623	$	17,652	$	2,977,145	$	2,994,798

					Greater
	30-59		60-89		than 90		Total past		Current
At December 31, 2019	Days		Days		days		due		loans		Total
Commercial real estate	$	—	$	—	$	—	$	—	$	1,668,236	$	1,668,236
Commercial & industrial		346		—		1,455		1,801		446,818		448,619
Construction		—		—		—		—		30,827		30,827
Multifamily		—		—		—		—		375,611		375,611
One-to-four family		—		—		—		—		82,670		82,670
Consumer		636		14		693		1,343		70,613		71,956
Total	$	982	$	14	$	2,148	$	3,144	$	2,674,775	$	2,677,919

Schedule of recorded investment in TDRs by class of loans

The following tables present the recorded investment in TDRs by class of loans as of September 30, 2020 and December 31, 2019 (in thousands):

	September 30, 2020		December 31, 2019
Troubled debt restructurings:
Real Estate:
Commercial real estate	$	363	$	367
One-to-four family		1,008		1,039
Consumer		—		35
Total troubled debt restructurings	$	1,371	$	1,441

Schedule of risk category of loans by class of loans

			Special
At September 30, 2020	Pass		Mention		Substandard		Doubtful			Total
Commercial real estate	$	1,842,606	$	363	$	—	$	—	$	1,842,969
Commercial & industrial		523,551		—		—		4,512		528,063
Construction		100,957		—		—		—		100,957
Multifamily		407,802		—		—		—		407,802
Total	$	2,874,916	$	363	$	—	$	4,512	$	2,879,791

			Special
At December 31, 2019	Pass		Mention		Substandard		Doubtful			Total
Commercial real estate	$	1,667,869	$	367	$	—	$	—	$	1,668,236
Commercial & industrial		446,612		—		960		1,047		448,619
Construction		30,827		—		—		—		30,827
Multi-family		375,611		—		—		—		375,611
Total	$	2,520,919	$	367	$	960	$	1,047	$	2,523,293