LOANS HELD FOR INVESTMENT, NET

Activity in Allowance for Loan Losses

At or for the Three Months Ended June 30, 2022

Real Estate Loans

One-to-Four

Family

Multifamily

Residential and

Residential

Cooperative/

and

Condominium

Residential

Total Real

Other

(In thousands)

Apartment

Mixed-Use

CRE

ADC

Estate

C&I

Loans

Total

Allowance for credit losses:

Beginning balance

$

4,528

$

7,061

$

28,645

$

4,758

$

44,992

$

34,263

$

360

$

79,615

(Credit) provision for credit losses

(14)

(58)

(2,452)

(970)

(3,494)

3,934

(74)

366

Charge-offs

—

(645)

—

(645)

Recoveries

—

54

—

54

36

—

90

Ending balance

$

4,514

$

7,003

$

26,247

$

3,788

$

41,552

$

37,588

$

286

$

79,426


	At or for the Three Months Ended June 30, 2021
	Real Estate Loans
	One-to-Four
	Family		Multifamily
	Residential and		Residential
	Cooperative/		and
	Condominium		Residential						Total Real				Other
(In thousands)	Apartment		Mixed-Use		CRE		ADC		Estate		C&I		Loans		Total
Allowance for credit losses:
Beginning balance	$	5,133	$	10,421	$	44,837	$	3,899	$	64,290	$	33,378	$	532	$	98,200
Provision (credit) for credit losses		394		34		(3,232)		1,259		(1,545)		(2,947)		(31)		(4,523)
Charge-offs		(5)		(173)		(405)		—		(583)		(445)		(5)		(1,033)
Recoveries		—		3		1		—		4		109		3		116
Ending balance	$	5,522	$	10,285	$	41,201	$	5,158	$	62,166	$	30,095	$	499	$	92,760

At or for the Six Months Ended June 30, 2022

Real Estate Loans

One-to-Four

Family

Multifamily

Residential and

Residential

Cooperative/

and

Condominium

Residential

Total Real

Other

(In thousands)

Apartment

Mixed-Use

CRE

ADC

Estate

C&I

Loans

Total

Allowance for credit losses:

Beginning balance

$

5,932

$

7,816

$

29,166

$

4,857

$

47,771

$

35,331

$

751

$

83,853

(Credit) provision for credit losses

(1,418)

(815)

(2,973)

(1,069)

(6,275)

5,450

(463)

(1,288)

Charge-offs

—

(3,280)

(3)

(3,283)

Recoveries

—

2

54

—

56

87

1

144

Ending balance

$

4,514

$

7,003

$

26,247

$

3,788

$

41,552

$

37,588

$

286

$

79,426


	At or for the Six Months Ended June 30, 2021
	Real Estate Loans
	One-to-Four
	Family		Multifamily
	Residential and		Residential
	Cooperative/		and
	Condominium		Residential						Total Real				Other
(In thousands)	Apartment		Mixed-Use		CRE		ADC		Estate		C&I		Loans		Total
Allowance for credit losses:
Beginning balance, prior to the adoption of CECL	$	644	$	17,016	$	9,059	$	1,993	$	28,712	$	12,737	$	12	$	41,461
Impact of adopting CECL as of January 1, 2021		1,048		(8,254)		4,849		381		(1,976)		(1,935)		(8)		(3,919)
Adjusted beginning balance as of January 1, 2021		1,692		8,762		13,908		2,374		26,736		10,802		4		37,542
PCD Day 1		2,220		3,292		23,124		117		28,753		23,374		157		52,284
Provision (credit) for credit losses		1,629		(1,363)		4,581		2,667		7,514		272		340		8,126
Charge-offs		(19)		(409)		(413)		—		(841)		(4,462)		(5)		(5,308)
Recoveries		—		3		1		—		4		109		3		116
Ending balance	$	5,522	$	10,285	$	41,201	$	5,158	$	62,166	$	30,095	$	499	$	92,760

Past Due Financing Receivables

The following tables summarize the past due status of the Company’s investment in loans as of the dates indicated:

June 30, 2022

Loans 90

Days or

Total

30 to 59

60 to 89

More Past Due

Past Due

Days

and Still

and

Total

(In thousands)

Past Due

Accruing Interest

Non-accrual

Current

Loans

Real estate:

One-to-four family residential, including condominium and cooperative apartment

$

1

$

420

$

341

$

3,128

$

3,890

$

687,696

$

691,586

Multifamily residential and residential mixed-use

3,619

—

3,619

3,650,545

3,654,164

CRE

10,094

—

5,020

15,114

4,076,258

4,091,372

Acquisition, development, and construction

9,265

—

657

9,922

242,186

252,108

Total real estate

22,979

420

341

8,805

32,545

8,656,685

8,689,230

C&I

11,919

932

24

27,365

40,240

920,648

960,888

Other

996

—

131

1,127

9,662

10,789

Total

$

35,894

$

1,352

$

365

$

36,301

$

73,912

$

9,586,995

$

9,660,907

	December 31, 2021
					Loans 90
					Days or				Total
	30 to 59		60 to 89		More Past Due				Past Due
	Days		Days		and Still				and				Total
(In thousands)	Past Due		Past Due		Accruing Interest		Non-accrual		Non-accrual		Current		Loans
Real estate:
One-to-four family residential, including condominium and cooperative apartment	$	3,294	$	877	$	1,945	$	7,623	$	13,739	$	655,543	$	669,282
Multifamily residential and residential mixed-use		30,983		3,339		—		—		34,322		3,322,024		3,356,346
CRE		23,108		887		—		5,053		29,048		3,916,900		3,945,948
Acquisition, development, and construction		—		—		—		—		—		322,628		322,628
Total real estate		57,385		5,103		1,945		12,676		77,109		8,217,095		8,294,204
C&I		3,753		7,040		1,056		27,266		39,115		894,444		933,559
Other		104		3		—		365		472		16,426		16,898
Total	$	61,242	$	12,146	$	3,001	$	40,307	$	116,696	$	9,127,965	$	9,244,661

Schedule of loans by class modified as trouble debt restructurings


	Modifications During the Six Months Ended June 30, 2022
			Pre-		Post-
			Modification		Modification
			Outstanding		Outstanding
	Number of		Recorded		Recorded
(Dollars in thousands)	Loans		Investment		Investment
One-to-four family residential and cooperative/condominium apartment	1	$	37	$	37
CRE	1		991		991
Acquisition, development, and construction	1		13,500		13,500
C&I	3		20,016		20,016
Total	6	$	34,544	$	34,544



	Modifications During the Six Months Ended June 30, 2021
			Pre-		Post-
			Modification		Modification
			Outstanding		Outstanding
	Number of		Recorded		Recorded
(Dollars in thousands)	Loans		Investment		Investment
One-to-four family residential and cooperative/condominium apartment	1	$	50	$	50
C&I	1		456		456
Total	2	$	506	$	506