LOANS HELD FOR INVESTMENT, NET (Tables)

3 Months Ended

Mar. 31, 2024

LOANS HELD FOR INVESTMENT, NET

Schedule of loan categories

(In thousands)	March 31, 2024		December 31, 2023
Business loans (1)	$	2,326,962	$	2,308,171
One-to-four family residential and cooperative/condominium apartment		873,335		887,555
Multifamily residential and residential mixed-use		3,996,548		4,017,176
Non-owner-occupied commercial real estate		3,385,898		3,379,667
Acquisition, development, and construction ("ADC")		175,352		168,513
Other loans		5,170		5,755
Total		10,763,265		10,766,837
Fair value hedge basis point adjustments (2)		1,318		6,591
Total loans, net of fair value hedge basis point adjustments		10,764,583		10,773,428
Allowance for credit losses		(76,068)		(71,743)
Loans held for investment, net	$	10,688,515	$	10,701,685

⁽¹⁾ Business loans include commercial and industrial loans and owner-occupied commercial real estate loans.

⁽²⁾ The loan portfolio included a fair value hedge basis point adjustment to the carrying amount of hedged owner-occupied commercial real estate in business loans, one-to-four family residential mortgage loans, multifamily residential mortgage loans and non-owner occupied commercial real estate loans.

Schedule of activity in allowance for loan losses

	At or for the Three Months Ended March 31, 2024
			One-to-Four
			Family		Multifamily
			Residential and		Residential
			Cooperative/		and		Non-Owner-Occupied
	Business		Condominium		Residential		Commercial				Other
(In thousands)	Loans		Apartment		Mixed-Use		Real Estate		ADC		Loans		Total
Allowance for credit losses:
Beginning balance	$	35,962	$	6,813	$	7,237	$	19,623	$	1,989	$	119	$	71,743
Provision (recovery) for credit losses		734		160		3,934		(178)		333		81		5,064
Charge-offs		(796)		—		—		—		—		(30)		(826)
Recoveries		81		—		—		—		—		6		87
Ending balance	$	35,981	$	6,973	$	11,171	$	19,445	$	2,322	$	176	$	76,068

	At or for the Three Months Ended March 31, 2023
			One-to-Four
			Family		Multifamily
			Residential and		Residential
			Cooperative/		and		Non-Owner-Occupied
	Business		Condominium		Residential		Commercial				Other
(In thousands)	Loans		Apartment		Mixed-Use		Real Estate		ADC		Loans		Total
Allowance for credit losses:
Beginning balance	$	47,029	$	5,969	$	8,360	$	20,153	$	1,723	$	273	$	83,507
(Recovery) provision for credit losses		(1,608)		43		(747)		(2,077)		792		(34)		(3,631)
Charge-offs		(2,029)		—		—		—		—		(1)		(2,030)
Recoveries		487		—		—		—		—		2		489
Ending balance	$	43,879	$	6,012	$	7,613	$	18,076	$	2,515	$	240	$	78,335

Schedule of financing receivable, nonaccrual

	March 31, 2024
	Non-accrual with			Non-accrual with
(In thousands)	No Allowance		Allowance			Reserve
Business loans	$	3,310	$	14,903	$	12,800
One-to-four family residential and cooperative/condominium apartment		—		3,689		145
Non-owner-occupied commercial real estate		—		15		15
ADC		12,253		657		287
Total	$	15,563	$	19,264	$	13,247

	December 31, 2023
	Non-accrual with			Non-accrual with
(In thousands)	No Allowance		Allowance			Reserve
Business loans	$	3,780	$	14,794	$	13,127
One-to-four family residential and cooperative/condominium apartment		—		3,248		133
Non-owner-occupied commercial real estate		—		6,620		636
ADC		—		657		305
Total	$	3,780	$	25,319	$	14,202

Schedule of past due financing receivables

	March 31, 2024
					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
Business loans	$	3,246	$	3,554	$	—	$	18,213	$	25,013	$	2,301,949	$	2,326,962
One-to-four family residential, including condominium and cooperative apartment		3,892		48		—		3,689		7,629		865,706		873,335
Multifamily residential and residential mixed-use		18,480		21,550		—		—		40,030		3,956,518		3,996,548
Non-owner-occupied commercial real estate		577		—		—		15		592		3,385,306		3,385,898
ADC		—		—		—		12,910		12,910		162,442		175,352
Other loans		2		—		—		—		2		5,168		5,170
Total	$	26,197	$	25,152	$	—	$	34,827	$	86,176	$	10,677,089	$	10,763,265

	December 31, 2023
					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
Business loans	$	7,139	$	1,217	$	—	$	18,574	$	26,930	$	2,281,241	$	2,308,171
One-to-four family residential, including condominium and cooperative apartment		4,071		73		—		3,248		7,392		880,163		887,555
Multifamily residential and residential mixed-use		—		—		—		—		—		4,017,176		4,017,176
Non-owner-occupied commercial real estate		337		—		—		6,620		6,957		3,372,710		3,379,667
ADC		430		—		—		657		1,087		167,426		168,513
Other loans		—		—		—		—		—		5,755		5,755
Total	$	11,977	$	1,290	$	—	$	29,099	$	42,366	$	10,724,471	$	10,766,837

Schedule of collateral dependent loans

	March 31, 2024				December 31, 2023
	Real Estate		Associated Allowance		Real Estate		Associated Allowance
(In thousands)	Collateral Dependent		for Credit Losses		Collateral Dependent		for Credit Losses
Business loans	$	4,966	$	1,210	$	3,742	$	—
Non-owner-occupied commercial real estate		—		—		6,605		621
ADC		12,910		287		657		305
Total	$	17,876	$	1,497	$	11,004	$	926

Schedule of amortized cost basis of loans modified to borrowers

	For the Three Months Ended March 31, 2024
										Significant Payment
					Term Extension		Significant Payment Delay			Delay, Term Extension			% of
			Significant		and Significant		and Interest			and Interest			Total Class of
(Dollars in thousands)	Term Extension		Payment Delay		Payment Delay		Rate Reduction			Rate Reduction	Total		Financing Receivable
Business loans	$	1,889	$	1,207	$	304	$	29	$	—	$	3,429	0.1	%
One-to-four family residential, including condominium and cooperative apartment		—		—		404		—		—		404	0.0
Multifamily residential and residential mixed-use		—		61,832		—		—		—		61,832	1.5
Non-owner-occupied commercial real estate		—		31,157		—		—		—		31,157	0.9
ADC		—		—		—		—		12,253		12,253	7.0
Total	$	1,889	$	94,196	$	708	$	29	$	12,253	$	109,075	1.0	%

	For the Three Months Ended March 31, 2023
										Significant Payment
					Term Extension		Significant Payment Delay			Delay, Term Extension			% of
			Significant		and Significant		and Interest			and Interest			Total Class of
(Dollars in thousands)	Term Extension		Payment Delay		Payment Delay		Rate Reduction			Rate Reduction	Total		Financing Receivable
Business loans	$	—	$	—	$	475	$	—	$	—	$	475	0.0	%
One-to-four family residential, including condominium and cooperative apartment		—		2,850		—		—		—		2,850	0.4
Total	$	—	$	2,850	$	475	$	—	$	—	$	3,325	0.0	%

Schedule of financial effect of loans modified to borrowers

	For the Three Months Ended March 31, 2024
	Weighted Average		Weighted Average
	Interest Rate		Months of		Weighted Average
(Dollars in thousands)	Reductions		Term Extensions		Payment Delay
Business loans	5.0	%		12	$	146
One-to-four family residential, including condominium and cooperative apartment	—			11		13
Multifamily residential and residential mixed-use	—			—		306
Non-owner-occupied commercial real estate	—			—		561
ADC	2.0			5		411

	For the Three Months Ended March 31, 2023
	Weighted Average		Weighted Average
	Interest Rate		Months of		Weighted Average
(Dollars in thousands)	Reductions		Term Extensions		Payment Delay
Business loans	4.3	%		13	$	2,406
One-to-four family residential, including condominium and cooperative apartment	—			189		76
Non-owner-occupied commercial real estate	—			—		988

Schedule of performance of loans that have been modified

	March 31, 2024
			30-59		60-89		90+
(In thousands)	Current		Days Past Due		Days Past Due		Days Past Due		Non-Accrual		Total
Business loans	$	13,694	$	—	$	240	$	—	$	2,140	$	16,074
One-to-four family residential, including condominium and cooperative apartment		3,262		—		—		—		91		3,353
Multifamily residential and residential mixed-use		27,631		12,651		21,550		—		—		61,832
Non-owner-occupied commercial real estate		55,864		—		—		—		—		55,864
ADC		—		—		—		—		12,253		12,253
Total	$	100,451	$	12,651	$	21,790	$	—	$	14,484	$	149,376

	March 31, 2023
			30-59		60-89		90+
(In thousands)	Current		Days Past Due		Days Past Due		Days Past Due		Non-Accrual		Total
Business loans	$	475	$	—	$	—	$	—	$	—	$	475
One-to-four family residential, including condominium and cooperative apartment		2,850		—		—		—		—		2,850
Total	$	3,325	$	—	$	—	$	—	$	—	$	3,325

Schedule of Credit risk profile of the real estate loans

	March 31, 2024
(In thousands)	2024		2023		2022		2021		2020		2019 and Prior		Revolving		Revolving-Term		Total
Business loans
Pass	$	69,153	$	255,474	$	392,650	$	193,191	$	153,026	$	435,108	$	631,958	$	51,322	$	2,181,882
Special mention		—		456		15,642		1,262		1,746		10,551		20,629		7,401		57,687
Substandard		—		—		9,025		2,787		6,440		33,096		16,492		18,805		86,645
Doubtful		—		—		—		—		—		748		—		—		748
Total business loans		69,153		255,930		417,317		197,240		161,212		479,503		669,079		77,528		2,326,962
YTD Gross Charge-Offs		—		—		80		—		—		—		633		83		796
One-to-four family residential, and condominium/cooperative apartment:
Pass		7,113		167,096		210,948		101,157		66,202		266,235		31,131		11,444		861,326
Special mention		—		—		—		—		—		33		159		697		889
Substandard		—		—		—		—		1,000		9,074		—		1,046		11,120
Doubtful		—		—		—		—		—		—		—		—		—
Total one-to-four family residential, and condominium/cooperative apartment		7,113		167,096		210,948		101,157		67,202		275,342		31,290		13,187		873,335
YTD Gross Charge-Offs		—		—		—		—		—		—		—		—		—
Multifamily residential and residential mixed-use:
Pass		11,137		256,226		1,340,191		569,200		291,859		1,339,820		5,550		4,311		3,818,294
Special mention		—		—		1,202		9,281		14,403		56,732		—		—		81,618
Substandard		—		—		—		—		18,204		78,432		—		—		96,636
Doubtful		—		—		—		—		—		—		—		—		—
Total multifamily residential and residential mixed-use		11,137		256,226		1,341,393		578,481		324,466		1,474,984		5,550		4,311		3,996,548
YTD Gross Charge-Offs		—		—		—		—		—		—		—		—		—
Non-owner-occupied commercial real estate
Pass		40,593		217,651		737,938		641,361		443,893		1,085,387		11,223		7,864		3,185,910
Special mention		—		—		—		19,730		75,170		13,550		—		—		108,450
Substandard		—		—		—		15		60,055		31,468		—		—		91,538
Doubtful		—		—		—		—		—		—		—		—		—
Total non-owner-occupied commercial real estate		40,593		217,651		737,938		661,106		579,118		1,130,405		11,223		7,864		3,385,898
YTD Gross Charge-Offs		—		—		—		—		—		—		—		—		—
ADC:
Pass		3,929		22,981		31,250		59,209		—		2,966		26,936		207		147,478
Special mention		—		—		—		14,964		—		—		—		—		14,964
Substandard		—		—		—		—		—		12,253		—		657		12,910
Doubtful		—		—		—		—		—		—		—		—		—
Total ADC		3,929		22,981		31,250		74,173		—		15,219		26,936		864		175,352
YTD Gross Charge-Offs		—		—		—		—		—		—		—		—		—
Total:
Pass		131,925		919,428		2,712,977		1,564,118		954,980		3,129,516		706,798		75,148		10,194,890
Special mention		—		456		16,844		45,237		91,319		80,866		20,788		8,098		263,608
Substandard		—		—		9,025		2,802		85,699		164,323		16,492		20,508		298,849
Doubtful		—		—		—		—		—		748		—		—		748
Total Loans	$	131,925	$	919,884	$	2,738,846	$	1,612,157	$	1,131,998	$	3,375,453	$	744,078	$	103,754	$	10,758,095
YTD Gross Charge-Offs	$	—	$	—	$	80	$	—	$	—	$	—	$	633	$	83	$	796

	December 31, 2023
(In thousands)	2023		2022		2021		2020		2019		2018 and Prior		Revolving		Revolving-Term		Total
Business loans
Pass	$	258,699	$	390,760	$	196,790	$	144,796	$	150,871	$	305,258	$	633,719	$	35,079	$	2,115,972
Special mention		481		41,682		1,199		13,567		7,125		3,150		21,108		25,306		113,618
Substandard		-		1,857		2,180		6,729		2,803		30,248		15,567		18,449		77,833
Doubtful		—		—		—		-		-		748		—		—		748
Total business loans		259,180		434,299		200,169		165,092		160,799		339,404		670,394		78,834		2,308,171
YTD Gross Charge-Offs		—		—		77		38		4,166		2,229		5,464		3,390		15,364
One-to-four family residential, and condominium/cooperative apartment:
Pass		170,601		213,479		102,684		69,524		62,356		213,131		31,205		12,493		875,473
Special mention		—		—		—		—		—		33		159		776		968
Substandard		—		—		—		1,005		337		8,711		—		1,061		11,114
Doubtful		—		—		—		—		—		—		—		—		—
Total one-to-four family residential, and condominium/cooperative apartment		170,601		213,479		102,684		70,529		62,693		221,875		31,364		14,330		887,555
YTD Gross Charge-Offs		—		—		—		—		—		—		—		14		14
Multifamily residential and residential mixed-use:
Pass		256,822		1,340,197		578,352		283,633		384,937		981,820		4,841		4,325		3,834,927
Special mention		—		—		9,334		3,880		3,886		64,273		—		—		81,373
Substandard		—		—		—		28,799		5,089		66,988		—		—		100,876
Doubtful		—		—		—		—		—		—		—		—		—
Total multifamily residential and residential mixed-use		256,822		1,340,197		587,686		316,312		393,912		1,113,081		4,841		4,325		4,017,176
YTD Gross Charge-Offs		—		—		—		—		—		2		—		—		2
Non-owner-occupied commercial real estate
Pass		220,045		738,133		645,246		447,002		359,201		756,921		11,919		7,926		3,186,393
Special mention		—		—		19,872		75,378		4,563		2,763		—		—		102,576
Substandard		—		—		16		60,272		6,254		24,156		—		—		90,698
Doubtful		—		—		—		—		—		—		—		—		—
Total non-owner-occupied commercial real estate		220,045		738,133		665,134		582,652		370,018		783,840		11,919		7,926		3,379,667
YTD Gross Charge-Offs		—		—		—		—		—		—		—		—		—
ADC:
Pass		16,735		17,534		59,202		9,900		2,665		437		22,444		225		129,142
Special mention		—		11,500		14,961		—		12,253		—		—		—		38,714
Substandard		—		—		—		—		—		—		—		657		657
Doubtful		—		—		—		—		—		—		—		—		—
Total ADC		16,735		29,034		74,163		9,900		14,918		437		22,444		882		168,513
YTD Gross Charge-Offs		—		—		—		—		—		—		—		—		—
Total:
Pass		922,902		2,700,103		1,582,274		954,855		960,030		2,257,567		704,128		60,048		10,141,907
Special mention		481		53,182		45,366		92,825		27,827		70,219		21,267		26,082		337,249
Substandard		—		1,857		2,196		96,805		14,483		130,103		15,567		20,167		281,178
Doubtful		—		—		—		—		—		748		—		—		748
Total Loans	$	923,383	$	2,755,142	$	1,629,836	$	1,144,485	$	1,002,340	$	2,458,637	$	740,962	$	106,297	$	10,761,082
YTD Gross Charge-Offs	$	—	$	—	$	77	$	38	$	4,166	$	2,231	$	5,464	$	3,404	$	15,380

(In thousands)	March 31, 2024		December 31, 2023
Performing	$	5,170	$	5,755
Non-accrual		—		—
Total	$	5,170	$	5,755