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Loan Portfolio and Allowance for Credit Losses (Tables)
9 Months Ended
Sep. 30, 2023
Loan Portfolio and Allowance for Credit Losses [Abstract]  
Recorded Investment in Loans by Portfolio Segment
The following tables presents loans by portfolio segment:

 
 
September 30, 2023
 
(dollars in thousands)  
New York and
             

 
other states*
   
Florida
   
Total
 
Commercial:
                 
Commercial real estate
 
$
208,394
    $
38,933
    $
247,327
 
Other
   
20,947
     
368
   
21,315
 
Real estate mortgage - 1 to 4 family:
                       
First mortgages
   
2,753,008
     
1,531,821
   
4,284,829
 
Home equity loans
   
44,873
     
13,304
   
58,177
 
Home equity lines of credit
   
206,806
     
125,222
   
332,028
 
Installment
   
12,217
     
4,388
   
16,605
 
Total loans, net
 
$
3,246,245
    $
1,714,036
     
4,960,281
 
Less: Allowance for credit losses
                   
47,226
 
Net loans
                 
$
4,913,055
 

*Includes New York, New Jersey, Vermont and Massachussetts.

 
 
December 31, 2022
 
(dollars in thousands)  
New York and
             

 
other states*
   
Florida
   
Total
 
Commercial:
                 
Commercial real estate
 
$
177,371
    $
32,551
    $
209,922
 
Other
   
20,221
     
868
     
21,089
 
Real estate mortgage - 1 to 4 family:
                       
First mortgages
   
2,776,989
     
1,369,913
     
4,146,902
 
Home equity loans
   
43,999
     
12,550
     
56,549
 
Home equity lines of credit
   
191,926
     
94,506
     
286,432
 
Installment
   
9,408
     
2,899
     
12,307
 
Total loans, net
 
$
3,219,914
    $
1,513,287
     
4,733,201
 
Less: Allowance for credit losses
                   
46,032
 
Net loans
                 
$
4,687,169
 

*Includes New York, New Jersey, Vermont and Massachussetts.
Activity in Allowance For Credit Losses on Loans by Portfolio Segment
Activity in the allowance for credit losses on loans by portfolio segment for the three months ended September 30, 2023 is summarized as follows:


 
For the three months ended September 30, 2023
 
(dollars in thousands)        
Real Estate
             
         
Mortgage-
             

 
Commercial
   
1 to 4 Family
   
Installment
   
Total
 
Balance at beginning of period   $ 2,610     $ 44,067     $ 237     $ 46,914  
Loans charged off:
                               
New York and other states*
   
-
     
27
     
23
     
50
 
Florida
   
-
     
-
     
-
     
-
 
Total loan chargeoffs
   
-
     
27
     
23
     
50
 
                                 
Recoveries of loans previously charged off:
                               
New York and other states*
   
-
     
53
     
9
     
62
 
Florida
   
-
     
-
     
-
     
-
 
Total recoveries
   
-
     
53
     
9
     
62
 
Net loans (recoveries) charged off
   
-
   
(26
)
   
14
     
(12
)
(Credit) provision for credit losses
   
103
   
192
     
5
     
300
 
Balance at end of period
 
$
2,713
   
$
44,285
   
$
228
   
$
47,226
 

* Includes New York, New Jersey, Vermont and Massachusetts.

Activity in the allowance for loan losses by portfolio segment for the three months ended September 30, 2022 is summarized as follows:

   
For the three months ended September 30, 2022
 
(dollars in thousands)        
Real Estate
             
         
Mortgage-
             

 
Commercial
   
1 to 4 Family
   
Installment
   
Total
 
Balance at beginning of period
 
$
2,274
     
42,880
     
131
     
45,285
 
Loans charged off:
                               
New York and other states*
   
-
     
13
     
34
     
47
 
Florida
   
-
     
-
     
-
     
-
 
Total loan chargeoffs
   
-
     
13
     
34
     
47
 
                                 
Recoveries of loans previously charged off:
                               
New York and other states*
   
-
     
177
     
-
     
177
 
Florida
   
-
     
-
     
2
     
2
 
Total recoveries
   
-
     
177
     
2
     
179
 
Net loan recoveries
   
-
     
(164
)
   
32
     
(132
)
(Credit) provision for credit losses
   
155
     
(100
)
   
45
     
100
Balance at end of period
 
$
2,429
     
42,944
     
144
     
45,517
 

* Includes New York, New Jersey, Vermont and Massachusetts.

Activity in the allowance for credit losses on loans by portfolio segment for the nine months ended September 30, 2023 is summarized as follows:

   
For the nine months ended September 30, 2023
 
(dollars in thousands)
       
Real Estate
             
         
Mortgage-
             
   
Commercial
   
1 to 4 Family
   
Installment
   
Total
 
Balance at beginning of period
 
$
2,596
    $
43,271
    $
165
    $
46,032
 
Loans charged off:
                               
New York and other states*
   
-
     
49
     
69
     
118
 
Florida
   
-
     
-
     
71
     
71
 
Total loan chargeoffs
 

-
   

49
   

140
   

189
 
                                 
Recoveries of loans previously charged off:
                               
New York and other states*
   
129
     
289
     
40
     
458
 
Florida
   
-
     
25
     
-
     
25
 
Total recoveries
   
129
     
314
     
40
     
483
 
Net loans (recoveries) charged off
   
(129
)
   
(265
)
   
100
     
(294
)
(Credit) provision for credit losses
   
(12
)
   
749
     
163
     
900
 
Balance at end of period
 
$
2,713
    $
44,285
    $
228
    $
47,226
 

* Includes New York, New Jersey, Vermont and Massachusetts.

Activity in the allowance for loan losses by portfolio segment for the nine months ended September 30, 2022 is summarized as follows:

   
For the nine months ended September 30, 2022
 
(dollars in thousands)
       
Real Estate
             
         
Mortgage-
             
   
Commercial
   
1 to 4 Family
   
Installment
   
Total
 
Balance at beginning of period
 
$
3,135
     
40,689
     
443
     
44,267
 
Impact of ASU 2016-13, Current Expected Credit Loss (CECL)
 
(986 )     3,717       (378 )     2,353  
Balance as of January 1, 2022 as adjuste dfor ASU 2016-13
  $ 2,149       44,406       65       46,620  
Loans charged off:
                               
New York and other states*
   
40
     
25
     
53
     
118
 
Florida
   
-
     
-
     
-
     
-
 
Total loan chargeoffs
   
40
     
25
     
53
     
118
 
                                 
Recoveries of loans previously charged off:
                               
New York and other states*
   
4
     
405
     
4
     
413
 
Florida
   
-
     
-
     
2
     
2
 
Total recoveries
   
4
     
405
     
6
     
415
 
Net loan recoveries
   
36
     
(380
)
   
47
     
(297
)
(Credit) provision for loan losses
   
316
     
(1,842
)
   
126
     
(1,400
)
Balance at end of period
 
$
2,429
     
42,944
     
144
     
45,517
 

* Includes New York, New Jersey, Vermont and Massachusetts.
Allowance For Credit Losses and Recorded Investment in Loans by Portfolio Segment and Based on Impairment Method
The following tables present the balance in the allowance for credit losses on loans by portfolio segment and based on impairment evaluation as of September 30, 2023 and December 31, 2022:

   
As of September 30, 2023
 
(dollars in thousands)        
1-to-4 Family
             
   
Commercial
     Residential      Installment        

 
Loans
   
Real Estate
   
Loans
   
Total
 
Allowance for credit losses on loans:
                       
Ending allowance balance attributable to loans:
                       
Individually evaluated for impairment
 
$
-
    $
-
    $
-
    $
-
 
Collectively evaluated for impairment
   
2,713
     
44,285
     
228
     
47,226
 
                                 
Total ending allowance balance
 
$
2,713
    $
44,285
    $
228
    $
47,226
 
                                 
Loans:
                               
Individually evaluated for impairment
 
$
962
    $
24,521
    $
106
    $
25,589
 
Collectively evaluated for impairment
   
267,680
     
4,650,513
     
16,499
     
4,934,692
 
                                 
Total ending loans balance
 
$
268,642
    $
4,675,034
    $
16,605
    $
4,960,281
 

   
As of December 31, 2022
 
(dollars in thousands)        
1-to-4 Family
             
     Commercial      Residential      Installment        

 
Loans
   
Real Estate
   
Loans
   
Total
 
Allowance for credit losses on loans:
                       
Ending allowance balance attributable to loans:
                       
Individually evaluated for impairment
 
$
-
     
-
     
-
     
-
 
Collectively evaluated for impairment
   
2,596
     
43,271
     
165
     
46,032
 
                                 
Total ending allowance balance
 
$
2,596
     
43,271
     
165
     
46,032
 
                                 
Loans:
                               
Individually evaluated for impairment
 
$
646
     
24,967
     
82
     
25,695
 
Collectively evaluated for impairment
   
230,365
     
4,464,916
     
12,225
     
4,707,506
 
                                 
Total ending loans balance
 
$
231,011
     
4,489,883
     
12,307
     
4,733,201
 
Allowance for Credit Losses on Unfunded Commitments
The Company’s activity in the allowance for credit losses on unfunded commitments for the three and nine months ended September 30, 2023 and 2022 was as follows:

(In thousands)  
For the three
months ended
September 30, 2023
 
Balance at June 30, 2023  
$
2,112
 
(Credit) provision for credit losses    
(200
)
Balance at September 30, 2023  
$
1,912
 

(In thousands)  
For the nine
months ended
September 30, 2023
 
Balance at January 1, 2023  
$
2,912
 
(Credit) provision for credit losses    
(1,000
)
Balance at September 30, 2023  
$
1,912
 

(In thousands)  
For the three
months ended
September 30, 2022
 
Balance at June 30, 2022  
$
3,162
 
Provision for credit losses    
200
 
Balance at September 30, 2022  
$
3,362
 

(In thousands)
 
For the nine
months ended
September 30, 2022
 
Balance at January 1, 2022
 
$
18
 
Impact of Adopting CECL
   
2,335
 
Adjusted Balance at January 1, 2022
  $
2,353
 
Provision for credit losses
   
1,009
 
Balance at September 30, 2022
 
$
3,362
 
Risk Category Loans by Class of Loans
As of September 30, 2023, and December 31, 2022 and based on the most recent analysis performed, the risk category of loans by class of loans, and gross charge-offs year to date for each loan type by origination year was as follows:

(in thousands)
  As of September 30, 2023  

 
Term Loans Amortized Cost Basis by Origination Year
 
   
2023
   
2022
   
2021
   
2020
   
2019
   
Prior
   
Revolving
Loans
Amortized
Cost Basis
   
Revolving
Loan
Converted to Term
   
Total
 
Commercial :
                                                     
Risk rating
                                                     
Pass
 
$
51,541
   
$
83,437
   
$
24,249
   
$
16,926
   
$
20,322
   
$
42,634
   
$
6,464
   
$
-
   
$
245,573
 
Special Mention
   
-
     
-
     
-
     
47
     
-
     
230
     
-
     
-
     
277
 
Substandard
   
-
     
-
     
-
     
108
     
-
     
1,369
     
-
     
-
     
1,477
 
Total Commercial Loans
 
$
51,541
   
$
83,437
   
$
24,249
   
$
17,081
   
$
20,322
   
$
44,233
   
$
6,464
   
$
-
   
$
247,327
 
                                                                         
Commercial Loans:
                                                                       
Current-period Gross writeoffs
 
$
-
   
$
-
   
$
-
   
$
-
   
$
-
   
$
-
   
$
-
   
$
-
   
$
-
 
   
$
-
   
$
-
   
$
-
   
$
-
   
$
-
   
$
-
   
$
-
   
$
-
   
$
-
 
                                                                         
Commercial Other:
                                                                       
Risk rating
                                                                       
Pass
 
$
6,052
   
$
2,968
   
$
2,077
   
$
1,569
   
$
430
   
$
2,536
   
$
5,255
   
$
-
   
$
20,887
 
Special mention
   
-
     
-
     
-
     
-
     
-
     
-
     
-
     
-
     
-
 
Substandard
   
-
     
-
     
330
     
-
     
-
     
98
     
-
     
-
     
428
 
Total Commercial Real Estate Loans
 
$
6,052
   
$
2,968
   
$
2,407
   
$
1,569
   
$
430
   
$
2,634
   
$
5,255
   
$
-
   
$
21,315
 
                                                                         
Other Commercial Loans:
                                                                       
Current-period Gross writeoffs
 
$
-
   
$
-
   
$
-
   
$
-
   
$
-
   
$
-
   
$
-
   
$
-
    $
-
 
   
$
-
   
$
-
   
$
-
   
$
-
   
$
-
   
$
-
   
$
-
   
$
-
   
$
-
 
                                                                         
Residential First Mortgage:
                                                                       
Risk rating
                                                                       
Performing
 
$
332,209
   
$
571,064
   
$
890,093
   
$
744,547
   
$
349,235
   
$
1,380,747
   
$
2,818
   
$
-
   
$
4,270,713
 
Nonperforming
   
64
     
210
     
389
     
230
     
1,123
     
12,100
     
-
     
-
     
14,116
 
Total First Mortgage:
 
$
332,273
   
$
571,274
   
$
890,482
   
$
744,777
   
$
350,358
   
$
1,392,847
   
$
2,818
   
$
-
   
$
4,284,829
 
                                                                         
Residential First Mortgage Loans:
                                                                       
Current-period Gross writeoffs
 
$
-
   
$
-
   
$
-
   
$
-
   
$
27
   
$
22
   
$
-
   
$
-
    $
49
 
   
$
-
   

-
   

-
   

-
   

27
   

22
   

-
   

-
   
$
49
 
                                                                         
Home Equity Loans:
                                                                       
Risk rating
                                                                       
Performing
 
$
8,095
   
$
6,112
   
$
8,136
   
$
5,757
   
$
6,667
   
$
23,127
   
$
-
   
$
-
   
$
57,894
 
Nonperforming
   
-
     
-
     
-
     
-
     
-
     
283
     
-
     
-
     
283
 
Total Home Equity Loans:
 
$
8,095
   
$
6,112
   
$
8,136
   
$
5,757
   
$
6,667
   
$
23,410
   
$
-
   
$
-
   
$
58,177
 
                                                                         
Home Equity Loans:
                                                                       
Current-period Gross writeoffs
 
$
-
   
$
-
   
$
-
   
$
-
   
$
-
   
$
-
   
$
-
   
$
-
    $
-
 
   
$
-
   
$
-
   
$
-
   
$
-
   
$
-
   
$
-
   
$
-
   
$
-
   
$
-
 
                                                                         
Home Equity Lines of Credit:
                                                                       
Risk rating
                                                                       
Performing
 
$
766
   
$
824
   
$
365
   
$
126
   
$
30
   
$
16,765
   
$
310,690
   
$
-
   
$
329,566
 
Nonperforming
   
-
     
-
     
-
     
-
     
-
     
2,096
     
366
     
-
     
2,462
 
Total Home Equity Credit Lines:
 
$
766
   
$
824
   
$
365
   
$
126
   
$
30
   
$
18,861
   
$
311,056
   
$
-
   
$
332,028
 
                                                                         
Home Equity Lines of Credit:
                                                                       
Current-period Gross writeoffs
 
$
-
   
$
-
   
$
-
   
$
-
   
$
-
   
$
-
   
$
-
   
$
-
    $
-
 
   
$
-
   
$
-
   
$
-
   
$
-
   
$
-
   
$
-
   
$
-
   
$
-
   
$
-
 
Installments:
                                                                       
Risk rating
                                                                       
Performing
 
$
7,330
   
$
5,137
   
$
1,667
   
$
452
   
$
277
   
$
594
   
$
990
   
$
-
   
$
16,447
 
Nonperforming
   
-
     
32
     
51
     
-
     
68
     
2
     
5
     
-
     
158
 
Total Installments
 
$
7,330
   
$
5,169
   
$
1,718
   
$
452
   
$
345
   
$
596
   
$
995
   
$
-
   
$
16,605
 
                                                                         
Installments Loans:
                                                                       
Current-period Gross writeoffs
 
$
-
   
$
58
   
$
49
   
$
6
   
$
10
   
$
17
   
$
-
   
$
-
    $
140
 
   
$
-
   
$
58
    $
49
   
$
6
   
$
10
   
$
17
   
$
-
   
$
-
   
$
140
 

(in thousands)
 
As of December 31, 2022
 
   
Term Loans Amortized Cost Basis by Origination Year
 
Commercial :
 
2022
   
2021
   
2020
   
2019
   
2018
   
Prior
   
Revolving Loans Amortized Cost Basis
   
Revolving Loan Converted to Term
   
Total
 
Risk rating
                                                     
Pass
 
$
79,430
   
$
29,991
   
$
18,708
   
$
22,790
   
$
16,598
   
$
32,666
   
$
8,022
   
$
-
   
$
208,205
 
Special Mention
   
-
     
-
     
62
     
-
     
243
     
-
     
-
     
-
     
305
 
Substandard
   
-
     
-
     
113
     
-
     
128
     
1,171
     
-
     
-
     
1,412
 
Total Commercial Loans
 
$
79,430
   
$
29,991
   
$
18,883
   
$
22,790
   
$
16,969
   
$
33,837
   
$
8,022
   
$
-
   
$
209,922
 

                                                                       
Commercial Loans:                                                                        
Current-period Gross writeoffs
 
$
-
   
$
-
   
$
-
   
$
-
   
$
-
   
$
40
   
$
-
   
$
-
   
$
40
 

 
$
-
   
$
-
   
$
-
   
$
-
   
$
-
   
$
40
   
$
-
   
$
-
   
$
40
 
                                                                         
Commercial Other:
                                                                       
Risk rating
                                                                       
Pass
 
$
2,972
   
$
2,848
   
$
2,273
   
$
590
   
$
674
   
$
2,348
   
$
8,908
   
$
-
   
$
20,613
 
Special mention
   
-
     
-
     
-
     
-
     
-
     
-
     
39
     
-
     
39
 
Substandard
   
-
     
339
     
-
     
-
     
-
     
98
     
-
     
-
     
437
 
Total Commercial Real Estate Loans
 
$
2,972
   
$
3,187
   
$
2,273
   
$
590
   
$
674
   
$
2,446
   
$
8,947
   
$
-
   
$
21,089
 
                                                                         
Other Commercial Loans:
                                                                       
Current-period Gross writeoffs
 
$
-
   
$
-
   
$
-
   
$
-
   
$
-
   
$
-
   
$
-
   
$
-
     
-
 

 
$
-
   
$
-
   
$
-
   
$
-
   
$
-
   
$
-
   
$
-
   
$
-
   
$
-
 
                                                                         
Residential First Mortgage:
                                                                       
Risk rating
                                                                       
Performing
 
$
557,981
   
$
933,754
   
$
784,511
   
$
368,137
   
$
257,926
   
$
1,228,776
   
$
1,472
   
$
-
   
$
4,132,557
 
Nonperforming
   
-
     
496
     
81
     
844
     
351
     
12,573
     
-
     
-
     
14,345
 
Total First Mortgage:
 
$
557,981
   
$
934,250
   
$
784,592
   
$
368,981
   
$
258,277
   
$
1,241,349
   
$
1,472
   
$
-
   
$
4,146,902
 

                                                                       
Residential First Mortgage Loans:                                                                        
Current-period Gross writeoffs
 
$
-
   
$
-
   
$
-
   
$
-
   
$
-
   
$
5
   
$
-
   
$
-
     
5
 

 
$
-
   
$
-
   
$
-
   
$
-
   
$
-
   
$
5
   
$
-
   
$
-
   
$
5
 
                                                                         
Home Equity Loans:
                                                                       
Risk rating
                                                                       
Performing
 
$
6,863
   
$
9,124
   
$
6,322
   
$
7,588
   
$
5,240
   
$
21,217
   
$
-
   
$
-
   
$
56,354
 
Nonperforming
   
-
     
-
     
-
     
-
     
66
     
129
     
-
     
-
     
195
 
Total Home Equity Loans:
 
$
6,863
   
$
9,124
   
$
6,322
   
$
7,588
   
$
5,306
   
$
21,346
   
$
-
   
$
-
   
$
56,549
 

                                                                       
Home Equity Lines Loans:                                                                        
Current-period Gross writeoffs
 
$
-
   
$
-
   
$
-
   
$
-
   
$
-
   
$
-
   
$
-
   
$
-
     
-
 

 
$
-
   
$
-
   
$
-
   
$
-
   
$
-
   
$
-
   
$
-
   
$
-
   
$
-
 
                                                                         
Home Equity Credit Lines:
                                                                       
Risk rating
                                                                       
Performing
 
$
1,369
   
$
1,246
   
$
740
   
$
52
   
$
100
   
$
18,377
   
$
262,244
   
$
-
   
$
284,128
 
Nonperforming
   
-
     
7
     
-
     
-
     
-
     
2,111
     
186
     
-
     
2,304
 
Total Home Equity Credit Lines:
 
$
1,369
   
$
1,253
   
$
740
   
$
52
   
$
100
   
$
20,488
   
$
262,430
   
$
-
   
$
286,432
 

                                                                       
Home Equity Credit Lines Loans:                                                                        
Current-period Gross writeoffs
 
$
-
   
$
-
   
$
-
   
$
-
   
$
-
   
$
19
   
$
-
   
$
-
     
19
 

 
$
-
   
$
-
   
$
-
   
$
-
   
$
-
   
$
19
   
$
-
   
$
-
   
$
19
 
                                                                         
Installments:
                                                                       
Risk rating
                                                                       
Performing
 
$
6,385
   
$
2,495
   
$
805
   
$
709
   
$
374
   
$
308
   
$
1,125
   
$
-
   
$
12,201
 
Nonperforming
   
20
     
17
     
-
     
65
     
-
     
1
     
3
     
-
     
106
 
Total Installments
 
$
6,405
   
$
2,512
   
$
805
   
$
774
   
$
374
   
$
309
   
$
1,128
   
$
-
   
$
12,307
 

                                                                       
Installments Loans:                                                                        
Current-period Gross writeoffs
 
$
1
   
$
47
   
$
22
   
$
7
   
$
2
   
$
9
   
$
-
   
$
-
     
88
 

 
$
1
   
$
47
   
$
22
   
$
7
   
$
2
   
$
9
   
$
-
   
$
-
   
$
88
 
Aging of Recorded Investment in Past Due Loans by Loan Class and by Region
The following tables present the aging of the amortized cost in past due loans by loan class and by region as of September 30,2023 and December 31,2022:

   
As of September 30, 2023
 

                                   
New York and other states*:
 
30-59
   
60-89
   
90 +
     Total              
     Days      Days      Days    
30+ days
           Total  
(dollars in thousands)
 
Past Due
   
Past Due
   
Past Due
   
Past Due
   
Current
   
Loans
 
                                     
Commercial:
                                   
Commercial real estate
 
$
-
    $
-
    $
522
    $
522
    $
207,872
    $
208,394
 
Other
   
-
     
-
     
-
     
-
     
20,947
     
20,947
 
Real estate mortgage - 1 to 4 family:
                                               
First mortgages
   
2,501
     
824
     
6,699
     
10,024
     
2,742,984
     
2,753,008
 
Home equity loans
   
129
     
2
     
158
     
289
     
44,584
     
44,873
 
Home equity lines of credit
   
726
     
171
     
781
     
1,678
     
205,128
     
206,806
 
Installment
   
12
     
56
     
59
     
127
     
12,090
     
12,217
 
                                                 
Total
 
$
3,368
    $
1,053
    $
8,219
    $
12,640
    $
3,233,605
    $
3,246,245
 

Florida:
 
30-59
   
60-89
   
90 +
     Total              
    Days     Days     Days    
30+ days
          Total  
(dollars in thousands)
 
Past Due
   
Past Due
   
Past Due
   
Past Due
   
Current
   
Loans
 
                                     
Commercial:
                                   
Commercial real estate
 
$
-
 
$
-
    $
-
    $
-
    $
38,933
    $
38,933
 
Other
   
-
     
-
     
314
     
314
     
54
     
368
 
Real estate mortgage - 1 to 4 family:
                                               
First mortgages
   
876
     
-
     
1,400
     
2,276
     
1,529,545
     
1,531,821
 
Home equity loans
   
49
     
-
     
-
     
49
     
13,255
     
13,304
 
Home equity lines of credit
   
258
     
-
     
-
     
258
     
124,964
     
125,222
 
Installment
   
48
     
5
     
60
     
113
     
4,275
     
4,388
 
                                                 
Total
 
$
1,231
    $
5
    $
1,774
    $
3,010
    $
1,711,026
    $
1,714,036
 

Total:
 
30-59
   
60-89
   
90 +
     Total              
    Days     Days     Days    
30+ days
          Total  
(dollars in thousands)
 
Past Due
   
Past Due
   
Past Due
   
Past Due
   
Current
   
Loans
 
                                     
Commercial:
                                   
Commercial real estate
 
$
-
    $
-
    $
522
    $
522
    $
246,805
    $
247,327
 
Other
   
-
     
-
     
314
     
314
     
21,001
     
21,315
 
Real estate mortgage - 1 to 4 family:
                                               
First mortgages
   
3,377
     
824
     
8,099
     
12,300
     
4,272,529
     
4,284,829
 
Home equity loans
   
178
     
2
     
158
     
338
     
57,839
     
58,177
 
Home equity lines of credit
   
984
     
171
     
781
     
1,936
     
330,092
     
332,028
 
Installment
   
60
     
61
     
119
     
240
     
16,365
     
16,605
 
                                                 
Total
 
$
4,599
    $
1,058
    $
9,993
    $
15,650
    $
4,944,631
    $
4,960,281
 

* Includes New York, New Jersey, Vermont and Massachusetts.

   
As of December 31, 2022
 

                                   
New York and other states*:
 
30-59
   
60-89
   
90 +
     Total              
    Days     Days     Days    
30+ days
          Total  
(dollars in thousands)
 
Past Due
   
Past Due
   
Past Due
   
Past Due
   
Current
   
Loans
 
                                     
Commercial:
                                   
Commercial real estate
 
$
-
   
-
   
161
   
161
   
177,210
   
177,371
 
Other
   
18
     
-
     
20
     
38
     
20,183
     
20,221
 
Real estate mortgage - 1 to 4 family:
                                               
First mortgages
   
4,262
     
921
     
7,203
     
12,386
     
2,764,603
     
2,776,989
 
Home equity loans
   
283
     
-
     
67
     
350
     
43,649
     
43,999
 
Home equity lines of credit
   
978
     
-
     
591
     
1,569
     
190,357
     
191,926
 
Installment
   
78
     
4
     
23
     
105
     
9,303
     
9,408
 
                                                 
Total
 
$
5,619
   
925
   
8,065
   
14,609
   
3,205,305
   
3,219,914
 

Florida:  
30-59
   
60-89
   
90 +
     Total              
    Days     Days     Days    
30+ days
           Total  
(dollars in thousands)
 
Past Due
   
Past Due
   
Past Due
   
Past Due
   
Current
   
Loans
 
                                     
Commercial:
                                   
Commercial real estate
 
$
-
   
-
   
-
     
-
   
32,551
     
32,551
 
Other
   
-
     
-
     
314
     
314
     
554
     
868
 
Real estate mortgage - 1 to 4 family:
                                               
First mortgages
   
1,183
     
243
     
1,404
     
2,830
     
1,367,083
     
1,369,913
 
Home equity loans
   
51
     
-
     
-
     
51
     
12,499
     
12,550
 
Home equity lines of credit
   
224
     
-
     
-
     
224
     
94,282
     
94,506
 
Installment
   
6
     
-
     
83
     
89
     
2,810
     
2,899
 
                                                 
Total
 
$
1,464
   
243
   
1,801
     
3,508
     
1,509,779
     
1,513,287
 

Total:
 
30-59
   
60-89
   
90 +
     Total              
    Days     Days     Days    
30+ days
          Total  
(dollars in thousands)
 
Past Due
   
Past Due
   
Past Due
   
Past Due
   
Current
   
Loans
 
                                     
Commercial:
                                   
Commercial real estate
 
$
-
   
-
   
161
   
161
   
209,761
   
209,922
 
Other
   
18
     
-
     
334
     
352
     
20,737
     
21,089
 
Real estate mortgage - 1 to 4 family:
                                               
First mortgages
   
5,445
     
1,164
     
8,607
     
15,216
     
4,131,686
     
4,146,902
 
Home equity loans
   
334
     
-
     
67
     
401
     
56,148
     
56,549
 
Home equity lines of credit
   
1,202
     
-
     
591
     
1,793
     
284,639
     
286,432
 
Installment
   
84
     
4
     
106
     
194
     
12,113
     
12,307
 
                                                 
Total
 
$
7,083
   
1,168
   
9,866
     
18,117
     
4,715,084
     
4,733,201
 

* Includes New York, New Jersey, Vermont and Massachusetts.
Recorded Investment in Non-Accrual Loans by Loan Class
The following table presents the amortized cost basis in non-accrual loans by portfolio segment:

   
As of September 30, 2023
 
(dollars in thousands)  
New York and
             

 
other states*
   
Florida
   
Total
 
Loans in non-accrual status:
                 
Commercial:
                 
Commercial real estate
 
$
540
    $
-
    $
540
 
Other
   
-
     
314
     
314
 
Real estate mortgage - 1 to 4 family:
                       
First mortgages
   
12,128
     
1,988
     
14,116
 
Home equity loans
   
238
     
45
     
283
 
Home equity lines of credit
   
2,267
     
195
     
2,462
 
Installment
   
93
     
65
     
158
 
Total non-accrual loans
   
15,266
     
2,607
     
17,873
 
Restructured real estate mortgages - 1 to 4 family
   
5
     
-
     
5
 
Total nonperforming loans
 
$
15,271
    $
2,607
    $
17,878
 

* Includes New York, New Jersey, Vermont and Massachusetts.

   
As of December 31, 2022
 
(dollars in thousands)
 
New York and
             

 
other states*
   
Florida
   
Total
 
Loans in non-accrual status:
                 
Commercial:
                 
Commercial real estate
 
$
199
    $
-
    $
199
 
Other
   
20
     
314
     
334
 
Real estate mortgage - 1 to 4 family:
                       
First mortgages
   
12,609
     
1,736
     
14,345
 
Home equity loans
   
153
     
42
     
195
 
Home equity lines of credit
   
2,187
     
117
     
2,304
 
Installment
   
23
     
83
     
106
 
Total non-accrual loans
   
15,191
     
2,292
     
17,483
 
Restructured real estate mortgages - 1 to 4 family
   
10
     
-
     
10
 
Total nonperforming loans
 
$
15,201
    $
2,292
    $
17,493
 

* Includes New York, New Jersey, Vermont and Massachusetts.
Loans on Non-Accrual Status and Past Due More than 90 Days
The following tables present the amortized cost basis of loans on non-accrual status and loans past due over 89 days still accruing as of September 30, 2023 and December 31,2022:

   
As of September 30, 2023
 
(dollars in thousands)  
Non-accrual With
     Non-accrual With      Loans Past Due  
   
No Allowance for
   
Allowance for
   
Over 89 Days
 

 
Credit Loss
   
Credit Loss
   
Still Accruing
 
Commercial:
                 
Commercial real estate
 
$
540
   
$
-
   

-
 
Other
   
314
     
-
     
-
 
Real estate mortgage - 1 to 4 family:
                       
First mortgages
   
13,470
     
646
     
-
 
Home equity loans
   
277
     
6
     
-
 
Home equity lines of credit
   
2,345
     
117
     
-
 
Installment
   
106
     
52
     
-
 
Total loans, net
 
$
17,052
   
$
821
   

-
 

 
 
As of December 31, 2022
 
(dollars in thousands)
 
Non-accrual With
   
Non-accrual With
   
Loans Past Due
 
 
 
No Allowance for
   
Allowance for
   
Over 89 Days
 
 
 
Credit Loss
   
Credit Loss
   
Still Accruing
 
Commercial:
                 
Commercial real estate
 
$
160
   
$
39
     
-
 
Other
   
20
     
314
     
-
 
Real estate mortgage - 1 to 4 family:
                       
First mortgages
   
13,502
     
843
     
-
 
Home equity loans
   
129
     
66
     
-
 
Home equity lines of credit
   
2,257
     
47
     
-
 
Installment
   
82
     
24
     
-
 
Total loans, net
 
$
16,150
   
$
1,333
     
-
 
Amortized Cost of Collateral-dependent Loans by Class The following tables present the amortized cost basis of individually analyzed collateral dependent loans by portfolio segment as of September 30, 2023 and December 31, 2022:

    As of September 30, 2023  
   
Type of Collateral
 
(dollars in thousands)        

       

 
Real Estate
   
Investment
Securities/Cash
   
Other
 
Commercial:
                 
Commercial real estate
 
$
648
     
-
     
-
 
Other
   
314
     
-
     
-
 
Real estate mortgage - 1 to 4 family:
             
       
 
First mortgages
   
20,854
     
-
     
-
 
Home equity loans
   
378
     
-
     
-
 
Home equity lines of credit
   
3,289
     
-
     
-
 
Installment
   
106
     
-
     
-
 
Total
 
$
25,589
     
-
     
-
 

 
 
As of December 31, 2022
 
 
 
Type of Collateral
 
(dollars in thousands)
                 
 
 
Real Estate
   
Investment Securities/Cash
   
Other
 
Commercial:
                 
Commercial real estate
 
$
312
     
-
     
-
 
Other
   
334
     
-
     
-
 
Real estate mortgage - 1 to 4 family:
   

     

     

 
First mortgages
   
21,467
     
-
     
-
 
Home equity loans
   
236
     
-
     
-
 
Home equity lines of credit
   
3,264
     
-
     
-
 
Installment
   
82
     
-
     
-
 
Total
 
$
25,695
     
-
     
-
 
Amortized Cost Basis of Loans Modified to Borrowers Experiencing Financial Difficulty and Financial Effects of Loan Modifications The percentage of the amortized cost basis of loans that were modified to borrowers in financial distress as compared to the amortized cost basis of each class of financing receivable is also presented below:

For the three months ended September 30, 2023
 
New York and other states*:
           
 
 
Payment
   
% of Total Class
 
(dollars in thousands)
 
Delay
   
of Loans
 
 
           
Commercial:
           
Commercial real estate
 
$
-
      -  
Other
   
-
      -  
Real estate mortgage - 1 to 4 family:
   
-
      -  
First mortgages
   
255
     
0.01
%
Home equity loans
    -       -  
Home equity lines of credit
   
-
      -  
Installment
   
-
      -  
 
               
Total
 
$
255
      0.01 %

Florida:
           
 
 
Payment
   
% of Total Class
 
(dollars in thousands)
 
Delay
   
of Loans
 
 
           
Commercial:
           
Commercial real estate
 
$
-
      -  
Other
   
-
      -  
Real estate mortgage - 1 to 4 family:
            -
 
First mortgages
   
-
     
-
Home equity loans
   
-
      -  
Home equity lines of credit
   
-
      -  
Installment
   
-
      -  
 
               
Total
 
$
-
      -

Total
           

 
Payment
   
% of Total Class
 
(dollars in thousands)
 
Delay
   
of Loans
 
 
           
Commercial:
           
Commercial real estate
 
$
-
      -  
Other
   
-
      -  
Real estate mortgage - 1 to 4 family:
               
First mortgages
   
255
     
0.01
%
Home equity loans
   
-
      -  
Home equity lines of credit
   
-
     
-
Installment
   
-
      -  
 
               
Total
 
$
255
      0.01 %

* Includes New York, New Jersey, Vermont and Massachusetts.

For the nine months ended September 30, 2023
 
New York and other states*:
       
 
Payment
 
% of Total Class
 
(dollars in thousands)
Delay
 
of Loans
 
 
       
Commercial:
       
Commercial real estate
 
$
-
      -  
Other
   
-
      -  
Real estate mortgage - 1 to 4 family:
   
-
      -  
First mortgages
   
490
     
0.02
%
Home equity loans
    -       -  
Home equity lines of credit
   
50
      0.02 %
Installment
   
-
      -  
 
               
Total
 
$
540
      0.02 %

Florida:
           
 
 
Payment
   
% of Total Class
 
(dollars in thousands)
 
Delay
   
of Loans
 
 
           
Commercial:
           
Commercial real estate
 
$
-
      -  
Other
   
-
      -  
Real estate mortgage - 1 to 4 family:
               
First mortgages
   
340
     
0.02
%
Home equity loans
   
-
      -  
Home equity lines of credit
   
-
      -  
Installment
   
-
      -  
 
               
Total
 
$
340
      0.02 %

Total
           
 
 
Payment
   
% of Total Class
 
(dollars in thousands)
 
Delay
   
of Loans
 
 
           
Commercial:
           
Commercial real estate
 
$
-
      -  
Other
   
-
      -  
Real estate mortgage - 1 to 4 family:
               
First mortgages
   
830
     
0.02
%
Home equity loans
   
-
      -  
Home equity lines of credit
   
50
     
0.02
%
Installment
   
-
      -  
 
               
Total
 
$
880
      0.02 %

* Includes New York, New Jersey, Vermont and Massachusetts.
Performance of Loans Modified to Borrowers Experiencing Financial Difficulty The following table describes the performance of loans that have been modified as of September 30, 2023:

   
As of September 30, 2023
 
                                     
New York and other states*:           30-59
      60-89
      90+        
            Days
      Days
      Days
       
(dollars in thousands)    Current       Past Due
      Past Due
      Past Due
     Total  
                                     
Commercial:
                                   
Commercial real estate
 
$
-
   
$
-
   
$
-
   
$
-
   
$
-
 
Other
   
-
     
-
     
-
     
-
     
-
 
Real estate mortgage - 1 to 4 family:
                                       
First mortgages
   
351
     
139
     
-
     
-
     
490
 
Home equity loans
   
-
     
-
     
-
      -      
-
 
Home equity lines of credit
   
50
     
-
     
-
     
-
     
50
 
Installment
   
-
     
-
     
-
     
-
     
-
 
                                         
Total
 
$
401
   
$
139
   
$
-
   
$
-
   
$
540
 

Florida:           30-59
      60-89
      90+        
            Days
      Days
      Days
       
(dollars in thousands)    Current       Past Due
      Past Due
      Past Due
     Total  
                                     
Commercial:
                                   
Commercial real estate
 
$
-
   
$
-
   
$
-
   
$
-
   
$
-
 
Other
   
-
     
-
     
-
     
-
     
-
 
Real estate mortgage - 1 to 4 family:
                                       
First mortgages
   
340
     
-
     
-
     
-
     
340
 
Home equity loans
   
-
     
-
     
-
      -      
-
 
Home equity lines of credit
   
-
     
-
     
-
     
-
     
-
 
Installment
   
-
     
-
     
-
     
-
     
-
 
                                         
Total
 
$
340
   
$
-
   
$
-
   
$
-
   
$
340
 

Total           30-59
      60-89
      90+        
            Days
      Days
      Days
       
(dollars in thousands)    Current       Past Due
      Past Due
      Past Due
     Total  
                                     
Commercial:
                                   
Commercial real estate
 
$
-
   
$
-
   
$
-
   
$
-
   
$
-
 
Other
   
-
     
-
     
-
     
-
     
-
 
Real estate mortgage - 1 to 4 family:
                                       
First mortgages
   
691
     
139
     
-
     
-
     
830
 
Home equity loans
   
-
     
-
     
-
      -      
-
 
Home equity lines of credit
   
50
     
-
     
-
     
-
     
50
 
Installment
   
-
     
-
     
-
     
-
     
-
 
                                         
Total
 
$
741
   
$
139
   
$
-
   
$
-
   
$
880
 

* Includes New York, New Jersey, Vermont and Massachusetts.
Financial Effect of Modifications Made to Borrowers Experiencing Financial Difficulty
The following tables describes the financial effect of the modifications made to borrowers experiencing financial difficulty:

For the three months ended September 30, 2023
 
   
Weighted
 
New York and other states*:
 
Average
 
   
Payment
 
(dollars in thousands)
 
Delay (Months)
 
       
Commercial:
     
Commercial real estate
 

-
 
Other
   
-
 
Real estate mortgage - 1 to 4 family:
   
 
First mortgages
   
18
 
Home equity loans
   
-
 
Home equity lines of credit
   
-
 
Installment
   
-
 
         
Total
 

18
 

    Weighted
 
Florida:
  Average
 
   
Payment
 
(dollars in thousands)
 
Delay (Months)
 
       
Commercial:
     
Commercial real estate
 

-
 
Other
   
-
 
Real estate mortgage - 1 to 4 family:
       
First mortgages
   
-
 
Home equity loans
   
-
 
Home equity lines of credit
   
-
 
Installment
   
-
 
         
Total
 

-
 

    Weighted
 
 
  Average
 
   
Payment
 
(dollars in thousands)
 
Delay (Months)
 
       
Commercial:
     
Commercial real estate
 

-
 
Other
   
-
 
Real estate mortgage - 1 to 4 family:
       
First mortgages
   
18
 
Home equity loans
   
-
 
Home equity lines of credit
   
-
 
Installment
   
-
 
         
Total
 

18
 

* Includes New York, New Jersey, Vermont and Massachusetts.

For the nine months ended September 30, 2023
 
   
Weighted
 
New York and other states*:
 
Average
 
   
Payment
 
(dollars in thousands)
 
Delay (Months)
 
       
Commercial:
     
Commercial real estate
 

-
 
Other
   
-
 
Real estate mortgage - 1 to 4 family:
   
 
First mortgages
   
20
 
Home equity loans
   
-
 
Home equity lines of credit
   
18
 
Installment
   
-
 
         
Total
 

38
 
 
    Weighted
 
Florida:
  Average
 
   
Payment
 
(dollars in thousands)
 
Delay (Months)
 
       
Commercial:
     
Commercial real estate
 

-
 
Other
   
-
 
Real estate mortgage - 1 to 4 family:
       
First mortgages
   
24
 
Home equity loans
   
-
 
Home equity lines of credit
   
-
 
Installment
   
-
 
         
Total
 

24
 

    Weighted
 
 
  Average
 
   
Payment
 
(dollars in thousands)
 
Delay (Months)
 
       
Commercial:
     
Commercial real estate
 

-
 
Other
   
-
 
Real estate mortgage - 1 to 4 family:
       
First mortgages
   
44
 
Home equity loans
   
-
 
Home equity lines of credit
   
18
 
Installment
   
-
 
         
Total
 

62
 

* Includes New York, New Jersey, Vermont and Massachusetts.
Modified Loans by Class that were Determined to be TDR's
Prior to the adoption of ASU 2022-02, the company accounted for loan modifications as Troubled Debt Restructurings (TDRs) and the following table presents, by class, loans that were modified as TDR’s for the three and nine months ended September 30, 2022:

 
Three months ended September 30, 2022
 

                 
 New York and other states*:        
Pre-Modification
   
Post-Modification
 
           Outstanding      Outstanding  
   
Number of
     Recorded      Recorded  
(dollars in thousands)
 
Contracts
   
Investment
   
Investment
 
                   
Commercial:
                 
Commercial real estate
   
-
   
$
-
     
-
 
Real estate mortgage - 1 to 4 family:
                       
First mortgages
   
3
     
282
     
282
 
Home equity loans
   
-
     
-
     
-
 
Home equity lines of credit
   
-
     
-
     
-
 
                         
Total
   
3
   
$
282
     
282
 

Florida:
       
Pre-Modification
   
Post-Modification
 
           Outstanding      Outstanding  
   
Number of
     Recorded      Recorded  
(dollars in thousands)
 
Contracts
   
Investment
   
Investment
 
                   
Commercial:
                 
Commercial real estate
   
-
   
$
-
     
-
 
Real estate mortgage - 1 to 4 family:
                       
First mortgages
   
-
     
-
     
-
 
Home equity loans
   
-
     
-
     
-
 
Home equity lines of credit
   
-
     
-
     
-
 
                         
Total
   
-
   
$
-
     
-
 

* Includes New York, New Jersey, Vermont and Massachusetts.

 
Nine months ended September 30, 2022
 
New York and other states*:
       
Pre-Modification
   
Post-Modification
 
           Outstanding      Outstanding  
   
Number of
     Recorded      Recorded  
(dollars in thousands)
 
Contracts
   
Investment
   
Investment
 
                   
Commercial:
                 
Commercial real estate
   
-
   
$
-
   
-
 
Real estate mortgage - 1 to 4 family:
                       
First mortgages
   
7
     
719
     
719
 
Home equity loans
   
-
     
-
     
-
 
Home equity lines of credit
   
-
     
-
     
-
 
                         
Total
   
7
   
$
719
   
719
 

Florida:
       
Pre-Modification
   
Post-Modification
 
           Outstanding      Outstanding  
   
Number of
     Recorded      Recorded  
(dollars in thousands)
 
Contracts
   
Investment
   
Investment
 
                   
Commercial:
                 
Commercial real estate
   
-
   
$
-
   
-
 
Real estate mortgage - 1 to 4 family:
                       
First mortgages
   
-
     
-
     
-
 
Home equity loans
   
-
     
-
     
-
 
Home equity lines of credit
   
-
     
-
     
-
 
                         
Total
   
-
   
$
-
   
-
 

* Includes New York, New Jersey, Vermont and Massachusetts.