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Allowance for Credit Losses (“ACL”) on Loans (Tables)
 6 Months Ended
Jun. 30, 2024
Credit Loss [Abstract]  
Schedule of Allowance for Credit Losses for Off-Balance Sheet credit Exposures
The table below summarizes the allowance for credit losses for off-balance sheet credit exposures as of, and for, the three and six months ended June 30, 2024, and June 30, 2023 (in thousands):

Three Months Ended June 30,Six Months Ended June 30,
2024202320242023
Balance at beginning of period$319 $902 $236 $791 
Provision for credit losses103 (661)186 (550)
Balance at end of period$422 $241 $422 $241 
Schedule of Allowance for Loan Losses and Loans Receivable by Portfolio Segment
The following tables set forth activity in our allowance for credit losses on loans, by loan type, as of, and for the three and six months ended June 30, 2024, and June 30, 2023 (in thousands):

 
Three Months Ended June 30, 2024
 Real Estate     
 
Commercial (1)
One-to-Four FamilyHome Equity and Lines of CreditConstruction and LandCommercial and IndustrialOtherTotal Loans (excluding PCD)PCDTotal
Allowance for credit losses:
Beginning balance$21,266 $2,776 $2,299 $122 $7,507 $4 $33,974 $3,065 $37,039 
Charge-offs(136)— — — (1,537)— (1,673)— (1,673)
Recoveries14 — — — 18 — 32 — 32 
Provisions (credit)(1,838)(484)263 (14)1,576 (1)(498)(120)(618)
Ending balance$19,306 $2,292 $2,562 $108 $7,564 $3 $31,835 $2,945 $34,780 

 
Three Months Ended June 30, 2023
 Real Estate     
 
Commercial (1)
One-to-Four FamilyHome Equity and Lines of CreditConstruction and LandCommercial and IndustrialOtherTotal Loans (excluding PCD)PCDTotal
Allowance for credit losses:         
Beginning balance$28,030 $3,587 $1,398 $286 $4,366 $7 $37,674 $3,762 $41,436 
Charge-offs— — — — (355)— (355)— (355)
Recoveries29 — 1 — 13 — 43 — 43 
Provisions (credit)(3,326)227 (121)15 3,271 — 66 (36)30 
Ending balance$24,733 $3,814 $1,278 $301 $7,295 $7 $37,428 $3,726 $41,154 
(1) Commercial includes commercial real estate loans collateralized by owner-occupied, non-owner occupied, and multifamily properties.
 Six Months Ended June 30, 2024
 Real Estate     
 
Commercial (1)
One-to-Four FamilyHome Equity and Lines of CreditConstruction and LandCommercial and IndustrialOtherTotal Loans (excluding PCD)PCDTotal
Allowance for credit losses:
Beginning balance$23,255 $3,285 $1,705 $149 $6,050 $6 $34,450 $3,085 $37,535 
Charge-offs(136)— — — (2,487)— (2,623)— (2,623)
Recoveries28 9 — — 34 — 71 — 71 
Provisions (credit)(3,841)(1,002)857 (41)3,967 (3)(63)(140)(203)
Ending balance$19,306 $2,292 $2,562 $108 $7,564 $3 $31,835 $2,945 $34,780 
 Six Months Ended June 30, 2023
 Real Estate     
 
Commercial (1)
One-to-Four FamilyHome Equity and Lines of CreditConstruction and LandCommercial and IndustrialOtherTotal Loans (excluding PCD)PCDTotal
Allowance for credit losses:         
Beginning balance$29,485 $3,936 $866 $324 $4,114 $9 $38,734 $3,883 $42,617 
Charge-offs— — — — (2,411)— (2,411)(8)(2,419)
Recoveries34 — 1 — 27 — 62 — 62 
Provisions (credit)(4,786)(122)411 (23)5,565 (2)1,043 (149)894 
Ending balance$24,733 $3,814 $1,278 $301 $7,295 $7 $37,428 $3,726 $41,154 
(1) Commercial includes commercial real estate loans collateralized by owner-occupied, non-owner occupied, and multifamily properties.
The following tables detail the amount of loans receivable held-for-investment, net of deferred loan fees and costs, that are evaluated, individually and collectively, for impairment, and the related portion of the allowance for credit losses that is allocated to each loan portfolio segment, at June 30, 2024 and December 31, 2023 (in thousands):
 June 30, 2024
 Real Estate     
 
Commercial (1)
One-to-Four FamilyHome Equity and Lines of CreditConstruction and LandCommercial and IndustrialOtherTotal Loans (excluding PCD)PCDTotal
Allowance for credit losses:
Ending balance: individually evaluated for impairment$23 $— $3 $— $17 $— $43 $— $43 
Ending balance: collectively evaluated for impairment19,283 2,292 2,559 108 7,547 3 31,792 — 31,792 
Ending balance: PCD loans evaluated for impairment (2)
— — — — — — — 2,945 2,945 
Loans, net:         
Ending balance$3,561,359 $151,948 $167,852 $32,607 $165,788 $2,322 $4,081,876 $9,344 $4,091,220 
Ending balance: individually evaluated for impairment12,623 581 22 — 75 — 13,301 — 13,301 
Ending balance: collectively evaluated for impairment3,548,736 151,367 167,830 32,607 165,511 2,322 4,068,373 — 4,068,373 
Ending balance: PCD loans evaluated for impairment (2)
— — — — — — — 9,344 9,344 
PPP loans not evaluated for impairment (3)
— — — — 202 — 202 — 202 

 December 31, 2023
 Real Estate     
 
Commercial (1)
One-to-Four FamilyHome Equity and Lines of CreditConstruction and LandCommercial and IndustrialOtherTotal Loans (excluding PCD)PCDTotal
Allowance for credit losses:
Ending balance: individually evaluated for impairment$25 $— $3 $— $17 $— $45 $— $45 
Ending balance: collectively evaluated for impairment23,230 3,285 1,702 149 6,033 6 34,405 — 34,405 
Ending balance: PCD loans evaluated for impairment (2)
— — — — — — — 3,085 3,085 
Loans, net:         
Ending balance$3,680,591 $160,824 $163,520 $30,967 $155,268 $2,585 $4,193,755 $9,899 $4,203,654 
Ending balance: individually evaluated for impairment8,608 609 23 — 84 — 9,324 — 9,324 
Ending balance: collectively evaluated for impairment3,671,983 160,215 163,497 30,967 154,900 2,585 4,184,147 — 4,184,147 
Ending balance: PCD loans evaluated for impairment (2)
— — — — — — — 9,899 9,899 
PPP loans not evaluated for impairment (3)
— — — — 284 — 284 — 284 
(1) Commercial includes commercial real estate loans collateralized by owner-occupied, non-owner occupied, and multifamily properties.
(2) Upon adoption of CECL, the Company elected to maintain pools of PCD loans that were previously accounted for under ASC 310-30, and will continue to evaluate PCD loans under this guidance.
(3) PPP loans are guaranteed by the SBA and therefore excluded from the allowance for credit losses.