LOANS AND ALLOWANCE FOR CREDIT LOSSES (Tables)

3 Months Ended

Mar. 31, 2021

LOANS AND ALLOWANCE FOR CREDIT LOSSES

Schedule of classes of loans

	March 31,			December 31,
	2021			2020
	(In Thousands)
One- to four-family residential construction	$	48,161		$	42,793
Subdivision construction		7,297			30,894
Land development		54,590			54,010
Commercial construction		1,206,687			1,212,837
Owner occupied one- to four-family residential		510,343			470,436
Non-owner occupied one- to four-family residential		130,609			114,569
Commercial real estate		1,588,771			1,553,677
Other residential		1,055,395			1,021,145
Commercial business		372,533			370,898
Industrial revenue bonds		14,559			14,003
Consumer auto		73,651			86,173
Consumer other		39,724			40,762
Home equity lines of credit		113,794			114,689
Loans acquired and accounted for under ASC 310-30, net of discounts (1)		—			98,643
		5,216,114			5,225,529
Undisbursed portion of loans in process		(851,768)			(863,722)
Allowance for credit losses		(67,702)			(55,743)
Deferred loan fees and gains, net		(10,907)			(9,260)
	$	4,285,737		$	4,296,804
Weighted average interest rate		4.30	%		4.29	%

(1) Loans acquired and accounted for under ASC 310-30 of $91.9 million have been included in the totals by loan class as of March 31, 2021. At the date of CECL adoption, the Company did not reassess whether purchased credit impaired loans met the criteria of purchased credit deteriorated loans.
​

Schedule of loans classified by aging analysis

	March 31, 2021
													Total Loans
					Over 90						Total		> 90 Days Past
	30-59 Days		60-89 Days		Days		Total Past				Loans		Due and
	Past Due		Past Due		Past Due		Due		Current		Receivable		Still Accruing
	(In Thousands)
One- to four-family residential construction	$	249	$	—	$	—	$	249	$	47,912	$	48,161	$	—
Subdivision construction		—		—		—		—		7,297		7,297		—
Land development		14		—		622		636		53,954		54,590		—
Commercial construction		—		—		—		—		1,206,687		1,206,687		—
Owner occupied one- to four-family residential		2,017		252		4,111		6,380		503,963		510,343		—
Non-owner occupied one- to four-family residential		—		—		112		112		130,497		130,609		—
Commercial real estate		302		—		3,394		3,696		1,585,075		1,588,771		—
Other residential		—		—		185		185		1,055,210		1,055,395		—
Commercial business		83		—		106		189		372,344		372,533		—
Industrial revenue bonds		944		—		—		944		13,615		14,559		—
Consumer auto		145		30		106		281		73,370		73,651		—
Consumer other		117		25		100		242		39,482		39,724		—
Home equity lines of credit		40		63		810		913		112,881		113,794		—
		3,911		370		9,546		13,827		5,202,287		5,216,114		—
Less: FDIC-acquired loans		2,133		109		3,576		5,818		86,116		91,934		—
Total	$	1,778	$	261	$	5,970	$	8,009	$	5,116,171	$	5,124,180	$	—

	December 31, 2020
													Total Loans
					Over 90						Total		> 90 Days Past
	30-59 Days		60-89 Days		Days		Total Past				Loans		Due and
	Past Due		Past Due		Past Due		Due		Current		Receivable		Still Accruing
	(In Thousands)
One- to four-family residential construction	$	1,365	$	—	$	—	$	1,365	$	41,428	$	42,793	$	—
Subdivision construction		—		—		—		—		30,894		30,894		—
Land development		20		—		—		20		53,990		54,010		—
Commercial construction		—		—		—		—		1,212,837		1,212,837		—
Owner occupied one- to four-family residential		1,379		113		1,502		2,994		467,442		470,436		—
Non-owner occupied one- to four-family residential		—		—		69		69		114,500		114,569		—
Commercial real estate		—		79		587		666		1,553,011		1,553,677		—
Other residential		—		—		—		—		1,021,145		1,021,145		—
Commercial business		—		—		114		114		370,784		370,898		—
Industrial revenue bonds		—		—		—		—		14,003		14,003		—
Consumer auto		364		119		169		652		85,521		86,173		—
Consumer other		443		7		94		544		40,218		40,762		—
Home equity lines of credit		153		111		508		772		113,917		114,689		—
Loans acquired and accounted for under ASC 310-30, net of discounts		1,662		641		3,843		6,146		92,497		98,643		—
		5,386		1,070		6,886		13,342		5,212,187		5,225,529		—
Less: Loans acquired and accounted for under ASC 310-30, net of discounts		1,662		641		3,843		6,146		92,497		98,643		—
Total	$	3,724	$	429	$	3,043	$	7,196	$	5,119,690	$	5,126,886	$	—

Schedule of Financing Receivable, Nonaccrual

	March 31,		December 31,
	2021		2020
	(In Thousands)
One- to four-family residential construction	$	—	$	—
Subdivision construction		—		—
Land development		622		—
Commercial construction		—		—
Owner occupied one- to four-family residential		4,111		1,502
Non-owner occupied one- to four-family residential		112		69
Commercial real estate		3,394		587
Other residential		185		—
Commercial business		106		114
Industrial revenue bonds		—		—
Consumer auto		106		169
Consumer other		100		94
Home equity lines of credit		810		508
Total non-accruing loans		9,546
Less: FDIC-acquired loans		3,576
Total non-accruing loans net of FDIC-acquired loans	$	5,970	$	3,043

Financing Receivable, Allowance for Credit Loss

	One- to Four-
	Family
	Residential and		Other		Commercial		Commercial		Commercial
	Construction		Residential		Real Estate		Construction		Business		Consumer		Total
	(In Thousands)
Allowance for credit losses
Balance, December 31, 2020	$	4,536	$	9,375	$	33,707	$	3,521	$	2,390	$	2,214	$	55,743
CECL adoption		4,533		5,832		(2,531)		(1,165)		1,499		3,427		11,595
Balance, January 1, 2021		9,069		15,207		31,176		2,356		3,889		5,641		67,338
Provision charged to expense		—		—		300		—		—		—		300
Losses charged off		(6)		—		—		—		—		(649)		(655)
Recoveries		38		92		24		10		47		508		719
Balance, March 31, 2021	$	9,101	$	15,299	$	31,500	$	2,366	$	3,936	$	5,500	$	67,702

	One- to Four-
	Family
	Residential and		Other		Commercial		Commercial		Commercial
	Construction		Residential		Real Estate		Construction		Business		Consumer		Total
	(In Thousands)
Allowance for unfunded commitments
Balance, December 31, 2020	$	—	$	—	$	—	$	—	$	—	$	—	$	—
CECL adoption		917		5,227		354		910		935		347		8,690
Balance, January 1, 2021		917		5,227		354		910		935		347		8,690
Provision (benefit) charged to expense		40		(412)		103		(400)		21		(25)		(673)
Balance, March 31, 2021	$	957	$	4,815	$	457	$	510	$	956	$	322	$	8,017

Schedule of Loans and Leases Receivable Allowance for Loan Losses

	One- to Four-
	Family
	Residential and		Other		Commercial		Commercial		Commercial
	Construction		Residential		Real Estate		Construction		Business		Consumer		Total
	(In Thousands)
Balance January 1, 2020	$	4,339	$	5,153	$	24,334	$	3,076	$	1,355	$	2,037	$	40,294
Provision (benefit) charged to expense		394		879		1,549		(867)		169		1,747		3,871
Losses charged off		(29)		—		—		(1)		(9)		(1,106)		(1,145)
Recoveries		35		114		40		13		64		642		908
Balance March 31, 2020	$	4,739	$	6,146	$	25,923	$	2,221	$	1,579	$	3,320	$	43,928

Schedule of impaired financing receivables

	One- to Four-
	Family
	Residential and		Other		Commercial		Commercial		Commercial
	Construction		Residential		Real Estate		Construction		Business		Consumer		Total
	(In Thousands)
Allowance for loan losses
Individually evaluated for impairment	$	90	$	—	$	445	$	—	$	14	$	164	$	713
Collectively evaluated for impairment	$	4,382	$	9,282	$	32,937	$	3,378	$	2,331	$	2,040	$	54,350
Loans acquired and accounted for under ASC 310-30	$	64	$	93	$	325	$	143	$	45	$	10	$	680
Loans
Individually evaluated for impairment	$	3,546	$	—	$	3,438	$	—	$	167	$	1,897	$	9,048
Collectively evaluated for impairment	$	655,146	$	1,021,145	$	1,550,239	$	1,266,847	$	384,734	$	239,727	$	5,117,838
Loans acquired and accounted for under ASC 310-30	$	57,113	$	6,150	$	24,613	$	2,551	$	2,549	$	5,667	$	98,643

Schedule of amortized cost basis of collateral-dependent loans by lass of loans

	March 31, 2021
	Principal		Specific
	Balance		Allowance
	(In Thousands)
One- to four-family residential construction	$	—	$	—
Subdivision construction		—		—
Land development		622		367
Commercial construction		—		—
Owner occupied one- to four- family residential		3,950		73
Non-owner occupied one- to four-family residential		—		—
Commercial real estate		5,752		1,617
Other residential		185		—
Commercial business		—		—
Industrial revenue bonds		—		—
Consumer auto		—		—
Consumer other		—		—
Home equity lines of credit		393		—
Total	$	10,902	$	2,057

Schedule of Financing Receivable, Troubled Debt Restructuring

	At or for the Year Ended December 31, 2020
							Average
			Unpaid				Investment		Interest
	Recorded		Principal		Specific		in Impaired		Income
	Balance		Balance		Allowance		Loans		Recognized
	(In Thousands)
One- to four-family residential construction	$	—	$	—	$	—	$	—	$	—
Subdivision construction		20		20		—		115		3
Land development		—		—		—		—		—
Commercial construction		—		—		—		—		—
Owner occupied one- to four- family residential		3,457		3,776		90		2,999		169
Non-owner occupied one- to four-family residential		69		106		—		309		18
Commercial real estate		3,438		3,472		445		3,736		135
Other residential		—		—		—		—		—
Commercial business		166		551		14		800		34
Industrial revenue bonds		—		—		—		—		—
Consumer auto		865		964		140		932		91
Consumer other		403		552		19		298		47
Home equity lines of credit		630		668		5		550		36
Total	$	9,048	$	10,109	$	713	$	9,739	$	533

	At or for the Three Months Ended March 31, 2020
							Average
			Unpaid				Investment		Interest
	Recorded		Principal		Specific		in Impaired		Income
	Balance		Balance		Allowance		Loans		Recognized
	(In Thousands)
One- to four-family residential construction	$	—	$	—	$	—	$	—	$	—
Subdivision construction		246		246		93		247		2
Land development		—		—		—		—		—
Commercial construction		—		—		—		—		—
Owner occupied one- to four- family residential		2,929		3,214		79		2,522		46
Non-owner occupied one- to four-family residential		494		694		18		433		6
Commercial real estate		4,109		4,143		506		4,122		30
Other residential		—		—		—		—		—
Commercial business		1,238		1,736		10		1,263		16
Industrial revenue bonds		—		—		—		—		—
Consumer auto		1,030		1,253		167		1,078		26
Consumer other		281		441		13		287		10
Home equity lines of credit		475		499		4		577		12
Total	$	10,802	$	12,226	$	890	$	10,529	$	148

Schedule of troubled debt restructuring current period

	March 31, 2021
	Accruing TDR Loans			Non-accruing TDR Loans			Total TDR Loans
	Number	Balance		Number	Balance		Number	Balance
	(In Thousands)
Construction and land development	1	$	18	—	$	—	1	$	18
One- to four-family residential	6		382	13		1,266	19		1,648
Other residential	—		—	—		—	—		—
Commercial real estate	1		1,768	1		88	2		1,856
Commercial business	—		—	1		67	1		67
Consumer	31		338	19		83	50		421
	39	$	2,506	34	$	1,504	73	$	4,010

	December 31, 2020
	Restructured
	Troubled Debt		Accruing		Restructured
	Non-accruing		Interest		Troubled Debt
	(In Thousands)
Commercial real estate	$	—	$	646	$	646
One- to four-family residential		778		1,121		1,899
Other residential		—		—		—
Construction		—		20		20
Commercial		75		52		127
Consumer		118		511		629
	$	971	$	2,350	$	3,321

Schedule of troubled debt restructuring subsequent period

The following tables present newly restructured loans, which were considered TDRs, during the three months ended March 31, 2021 and 2020, respectively, by type of modification:

	Three Months Ended March 31, 2021
							Total
	Interest Only		Term		Combination		Modification
	(In Thousands)
Commercial Real Estate	$	1,768	$	—	$	—	$	1,768
Consumer		—		21		—		21
	$	1,768	$	21	$	—	$	1,789

	Three Months Ended March 31, 2020
							Total
	Interest Only		Term		Combination		Modification
	(In Thousands)
One- to four-family residential	$	—	$	—	$	130	$	130
Consumer		—		—		48		48
	$	—	$	—	$	178	$	178

Schedule of financing receivable credit quality indicators

	Term Loans by Origination Year
													Revolving
	2021 YTD		2020		2019		2018		2017		Prior		Loans		Total
	(In Thousands)
One- to four-family residential construction
Satisfactory (1‑4)	$	1,938	$	17,826	$	1,265	$	—	$	—	$	6	$	230	$	21,265
Watch (5)		—		—		1,364		—		—		—		—		1,364
Special Mention (6)		—		—		—		—		—		—		—		—
Classified (7‑9)		—		—		—		—		—		—		—		—
Total		1,938		17,826		2,629		—		—		6		230		22,629
Subdivision construction
Satisfactory (1‑4)		124		1,270		364		302		1,033		1,346		—		4,439
Watch (5)		—		—		—		—		—		—		—		—
Special Mention (6)		—		—		—		—		—		—		—		—
Classified (7‑9)		—		—		—		—		—		18		—		18
Total		124		1,270		364		302		1,033		1,364		—		4,457
Land development construction
Satisfactory (1‑4)		1,756		22,678		10,850		5,110		3,623		8,493		1,463		53,973
Watch (5)		—		—		—		—		—		—		—		—
Special Mention (6)		—		—		—		—		—		—		—		—
Classified (7‑9)		—		—		—		—		—		—		622		622
Total		1,756		22,678		10,850		5,110		3,623		8,493		2,085		54,595
Other Construction
Satisfactory (1‑4)		20,302		138,048		198,014		117,966		338		—		—		474,668
Watch (5)		—		—		—		—		—		—		—		—
Special Mention (6)		—		—		—		—		—		—		—		—
Classified (7‑9)		—		—		—		—		—		—		—		—
Total		20,302		138,048		198,014		117,966		338		—		—		474,668
One- to four-family residential
Satisfactory (1‑4)		52,744		206,419		127,958		82,345		16,902		150,571		1,690		638,629
Watch (5)		—		—		—		134		—		228		77		439
Special Mention (6)		—		—		—		—		—		—		—		—
Classified (7‑9)		—		—		138		—		200		2,046		110		2,494
Total		52,744		206,419		128,096		82,479		17,102		152,845		1,877		641,562
Other residential
Satisfactory (1‑4)		9,227		83,544		176,111		388,986		241,625		126,407		3,718		1,029,618
Watch (5)		—		—		—		—		—		3,490		—		3,490
Special Mention (6)		—		—		—		—		—		—		—		—
Classified (7‑9)		—		—		—		—		—		—		—		—
Total		9,227		83,544		176,111		388,986		241,625		129,897		3,718		1,033,108
Commercial real estate
Satisfactory (1‑4)		10,906		130,305		226,502		240,367		242,150		659,242		19,838		1,529,310
Watch (5)		—		—		—		—		11,555		21,856		595		34,006
Special Mention (6)		—		—		—		—		—		—		—		—
Classified (7‑9)		—		—		—		—		—		5,428		—		5,428
Total		10,906		130,305		226,502		240,367		253,705		686,526		20,433		1,568,744
Commercial business
Satisfactory (1‑4)		58,669		80,786		26,780		25,359		25,903		65,918		49,485		332,900
Watch (5)		—		—		—		2,626		14		2,775		11		5,426
Special Mention (6)		—		—		—		—		—		—		—		—
Classified (7‑9)		—		—		—		—		—		67		40		107
Total		58,669		80,786		26,780		27,985		25,917		68,760		49,536		338,433
Consumer
Satisfactory (1‑4)		5,822		17,926		13,028		17,351		8,692		39,086		124,413		226,318
Watch (5)		—		12		—		24		3		45		31		115
Special Mention (6)		—		—		—		—		—		—		—		—
Classified (7‑9)		—		4		12		61		48		435		471		1,031
Total		5,822		17,942		13,040		17,436		8,743		39,566		124,915		227,464
Combined
Satisfactory (1‑4)		161,488		698,802		780,872		877,786		540,266		1,051,069		200,837		4,311,120
Watch (5)		—		12		1,364		2,784		11,572		28,394		714		44,840
Special Mention (6)		—		—		—		—		—		—		—		—
Classified (7‑9)		—		4		150		61		248		7,994		1,243		9,700
Total	$	161,488	$	698,818	$	782,386	$	880,631	$	552,086	$	1,087,457	$	202,794	$	4,365,660

	December 31, 2020
					Special
	Satisfactory		Watch		Mention		Substandard		Doubtful		Total
	(In Thousands)
One- to four-family residential construction	$	41,428	$	1,365	$	—	$	—	$	—	$	42,793
Subdivision construction		30,874		—		—		20		—		30,894
Land development		54,010		—		—		—		—		54,010
Commercial construction		1,212,837		—		—		—		—		1,212,837
Owner occupied one- to-four-family residential		467,855		216		—		2,365		—		470,436
Non-owner occupied one- to-four-family residential		114,176		324		—		69		—		114,569
Commercial real estate		1,498,031		52,208		—		3,438		—		1,553,677
Other residential		1,017,648		3,497		—		—		—		1,021,145
Commercial business		363,681		7,102		—		115		—		370,898
Industrial revenue bonds		14,003		—		—		—		—		14,003
Consumer auto		85,657		5		—		511		—		86,173
Consumer other		40,514		2		—		246		—		40,762
Home equity lines of credit		114,049		39		—		601		—		114,689
Loans acquired and accounted for under ASC 310‑30, net of discounts		98,633		—		—		10		—		98,643
Total	$	5,153,396	$	64,758	$	—	$	7,375	$	—	$	5,225,529