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Loans (Tables)
12 Months Ended
Dec. 31, 2022
Loans [Abstract]  
Loans Outstanding By Class Of Loans

December 31,

(in thousands)

2022

2021

Commercial and industrial

$

108,493

$

90,386

SBA PPP

30,534

Commercial mortgages:

Multifamily

906,498

864,207

Other

789,140

700,872

Owner-occupied

220,855

171,533

Residential mortgages:

Closed end

1,240,144

1,202,374

Revolving home equity

45,213

44,139

Consumer and other

1,390

991

$

3,311,733

$

3,105,036

Allowance For Loan Losses

(in thousands)

Balance at
1/1/2022

Chargeoffs

Recoveries

Provision
(Credit) for
Credit Losses

Balance at
12/31/2022

Commercial and industrial

$

888

$

511

$

154

$

1,012

$

1,543

SBA PPP

46

(46)

Commercial mortgages:

Multifamily

8,154

276

8,430

Other

6,478

947

7,425

Owner-occupied

2,515

509

3,024

Residential mortgages:

Closed end

11,298

372

(293)

10,633

Revolving home equity

449

(87)

362

Consumer and other

3

1

13

15

$

29,831

$

884

$

154

$

2,331

$

31,432

(in thousands)

Balance at
1/1/2021

Chargeoffs

Recoveries

Provision
(Credit) for
Credit Losses

Balance at
12/31/2021

Commercial and industrial

$

1,416

$

307

$

205

$

(426)

$

888

SBA PPP

209

(163)

46

Commercial mortgages:

Multifamily

9,474

544

(776)

8,154

Other

4,913

1,565

6,478

Owner-occupied

1,905

165

91

684

2,515

Residential mortgages:

Closed end

14,706

189

22

(3,241)

11,298

Revolving home equity

407

254

(212)

449

Consumer and other

7

1

1

(4)

3

$

33,037

$

1,206

$

573

$

(2,573)

$

29,831

(in thousands)

Balance at
1/1/2020

Impact of
ASC 326
Adoption

Chargeoffs

Recoveries

Provision
(Credit) for
Loan Losses

Balance at
12/31/2020

Commercial and industrial

$

1,493

$

(244)

$

1,283

$

519

$

931

$

1,416

SBA PPP

209

209

Commercial mortgages:

Multifamily

7,151

1,059

298

1,562

9,474

Other

3,498

(47)

502

1

1,963

4,913

Owner-occupied

921

778

206

1,905

Residential mortgages:

Closed end

15,698

1,356

558

32

(1,822)

14,706

Revolving home equity

515

(6)

86

30

(46)

407

Consumer and other

13

(8)

3

2

3

7

$

29,289

$

2,888

$

2,730

$

584

$

3,006

$

33,037

Aging Of The Recorded Investment In Loans

December 31, 2022

Past Due

Nonaccrual

With an

With No

Total Past

90 Days or

Allowance

Allowance

Due Loans &

More and

for Credit

for Credit

Nonaccrual

Total

(in thousands)

30-59 Days

60-89 Days

Still Accruing

Loss

Loss

Loans

Current

Loans

Commercial and industrial

$

297 

$

$

$

$

$

297 

$

108,196 

$

108,493 

SBA PPP

Commercial mortgages:

Multifamily

906,498 

906,498 

Other

789,140 

789,140 

Owner-occupied

220,855 

220,855 

Residential mortgages:

Closed end

452 

452 

1,239,692 

1,240,144 

Revolving home equity

45,213 

45,213 

Consumer and other

1 

1 

1,389 

1,390 

$

750 

$

$

$

$

$

750 

$

3,310,983 

$

3,311,733 

December 31, 2021

Commercial and industrial

$

128 

$

$

$

$

$

128 

$

90,258 

$

90,386 

SBA PPP

259 

259 

30,275 

30,534 

Commercial mortgages:

Multifamily

864,207 

864,207 

Other

700,872 

700,872 

Owner-occupied

171,533 

171,533 

Residential mortgages:

Closed end

1,235 

1,235 

1,201,139 

1,202,374 

Revolving home equity

44,139 

44,139 

Consumer and other

73 

73 

918 

991 

$

460 

$

$

$

$

1,235 

$

1,695 

$

3,103,341 

$

3,105,036 

Amortized Cost Basis of Loans by Class of Loans, Vintage and Risk Rating

December 31, 2022

Term Loans by Origination Year

Revolving

(in thousands)

2022

2021

2020

2019

2018

Prior

Loans (1)

Total

Commercial and industrial:

Risk rating:

Pass

$

29,913 

$

27,212 

$

10,747 

$

5,369 

$

4,352 

$

3,840 

$

14,721 

$

96,154 

Watch

1,998 

10,067 

274 

12,339 

Special Mention

Substandard

Doubtful

$

31,911 

$

37,279 

$

11,021 

$

5,369 

$

4,352 

$

3,840 

$

14,721 

$

108,493 

Current-period gross chargeoffs

$

$

$

$

$

$

$

(511)

$

(511)

Current-period recoveries

154 

154 

Current-period net chargeoffs

$

$

$

$

$

$

$

(357)

$

(357)

Commercial mortgages – multifamily:

Risk rating:

Pass

$

195,614 

$

180,602 

$

39,687 

$

125,179 

$

112,456 

$

246,436 

$

225 

$

900,199 

Watch

6,299 

6,299 

Special Mention

Substandard

Doubtful

$

195,614 

$

180,602 

$

39,687 

$

125,179 

$

112,456 

$

252,735 

$

225 

$

906,498 

Current-period gross chargeoffs

$

$

$

$

$

$

$

$

Current-period recoveries

Current-period net chargeoffs

$

$

$

$

$

$

$

$

Commercial mortgages – other:

Risk rating:

Pass

$

191,988 

$

224,005 

$

99,340 

$

34,448 

$

43,235 

$

188,327 

$

$

781,343 

Watch

934 

934 

Special Mention

Substandard

6,863 

6,863 

Doubtful

$

191,988 

$

224,005 

$

99,340 

$

34,448 

$

44,169 

$

195,190 

$

$

789,140 

Current-period gross chargeoffs

$

$

$

$

$

$

$

$

Current-period recoveries

Current-period net chargeoffs

$

$

$

$

$

$

$

$

Commercial mortgages – owner-occupied:

Risk rating:

Pass

$

56,771 

$

56,039 

$

21,199 

$

41,532 

$

2,763 

$

35,785 

$

1,487 

$

215,576 

Watch

5,279 

5,279 

Special Mention

Substandard

Doubtful

$

56,771 

$

61,318 

$

21,199 

$

41,532 

$

2,763 

$

35,785 

$

1,487 

$

220,855 

Current-period gross chargeoffs

$

$

$

$

$

$

$

$

Current-period recoveries

Current-period net chargeoffs

$

$

$

$

$

$

$

$

(1) Includes commercial and industrial lines converted to term of $4.7 million.


December 31, 2022

Term Loans by Origination Year

Revolving

(in thousands)

2022

2021

2020

2019

2018

Prior

Loans (1)

Total

Residential mortgages:

Risk rating:

Pass

$

203,272 

$

169,522 

$

35,754 

$

17,030 

$

182,248 

$

632,039 

$

45,213 

$

1,285,078 

Watch

279 

279 

Special Mention

Substandard

Doubtful

$

203,272 

$

169,522 

$

35,754 

$

17,030 

$

182,248 

$

632,318 

$

45,213 

$

1,285,357 

Current-period gross chargeoffs

$

$

$

$

$

$

(372)

$

$

(372)

Current-period recoveries

Current-period net chargeoffs

$

$

$

$

$

$

(372)

$

$

(372)

Consumer and other:

Risk rating:

Pass

$

241 

$

$

$

100 

$

$

72 

$

844 

$

1,257 

Watch

Special Mention

Substandard

Doubtful

Not Rated

133 

133 

$

241 

$

$

$

100 

$

$

72 

$

977 

$

1,390 

Current-period gross chargeoffs

$

$

$

$

$

$

$

(1)

$

(1)

Current-period recoveries

Current-period net chargeoffs

$

$

$

$

$

$

$

(1)

$

(1)

Total loans

$

679,797 

$

672,726 

$

207,001 

$

223,658 

$

345,988 

$

1,119,940 

$

62,623 

$

3,311,733 

Total net chargeoffs

(372)

(358)

(730)

(1)Includes home equity lines converted to term of $8.1 million.