Loans and Allowance for Credit Losses (Tables)

3 Months Ended

Mar. 31, 2022

Mar. 31, 2021

Loans and Allowance for Credit Losses

Schedule of classes of loans

	March 31,			December 31,
	2022			2021
	(In Thousands)
One- to four-family residential construction	$	26,840		$	28,302
Subdivision construction		27,187			26,694
Land development		46,789			47,827
Commercial construction		438,424			617,505
Owner occupied one- to four-family residential		608,560			561,958
Non-owner occupied one- to four-family residential		123,816			119,635
Commercial real estate		1,558,471			1,476,230
Other residential		849,720			697,903
Commercial business		290,381			280,513
Industrial revenue bonds		13,569			14,203
Consumer auto		45,069			48,915
Consumer other		37,964			37,902
Home equity lines of credit		114,484			119,965
		4,181,274			4,077,552
Allowance for credit losses		(60,797)			(60,754)
Deferred loan fees and gains, net		(8,990)			(9,298)
	$	4,111,487		$	4,007,500
Weighted average interest rate		4.13	%		4.26	%

Schedule of loans classified by aging analysis

	March 31, 2022
													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	$	—	$	—	$	—	$	—	$	26,840	$	26,840	$	—
Subdivision construction		—		—		—		—		27,187		27,187		—
Land development		—		—		468		468		46,321		46,789		—
Commercial construction		—		—		—		—		438,424		438,424		—
Owner occupied one- to four-family residential		1,268		583		2,004		3,855		604,705		608,560		—
Non-owner occupied one- to four-family residential		—		—		—		—		123,816		123,816		—
Commercial real estate		38		—		1,773		1,811		1,556,660		1,558,471		—
Other residential		—		—		—		—		849,720		849,720		—
Commercial business		197		—		—		197		290,184		290,381		—
Industrial revenue bonds		—		—		—		—		13,569		13,569		—
Consumer auto		125		11		49		185		44,884		45,069		—
Consumer other		265		81		57		403		37,561		37,964		—
Home equity lines of credit		—		—		618		618		113,866		114,484		—
Total	$	1,893	$	675	$	4,969	$	7,537	$	4,173,737	$	4,181,274	$	—

	December 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	$	—	$	—	$	—	$	—	$	28,302	$	28,302	$	—
Subdivision construction		—		—		—		—		26,694		26,694		—
Land development		29		15		468		512		47,315		47,827		—
Commercial construction		—		—		—		—		617,505		617,505		—
Owner occupied one- to four-family residential		843		2		2,216		3,061		558,897		561,958		—
Non-owner occupied one- to four-family residential		—		—		—		—		119,635		119,635		—
Commercial real estate		—		—		2,006		2,006		1,474,224		1,476,230		—
Other residential		—		—		—		—		697,903		697,903		—
Commercial business		1,404		—		—		1,404		279,109		280,513		—
Industrial revenue bonds		—		—		—		—		14,203		14,203		—
Consumer auto		229		31		34		294		48,621		48,915		—
Consumer other		126		28		63		217		37,685		37,902		—
Home equity lines of credit		—		—		636		636		119,329		119,965		—
Total	$	2,631	$	76	$	5,423	$	8,130	$	4,069,422	$	4,077,552	$	—

Schedule of Financing Receivable, Nonaccrual

	March 31,		December 31,
	2022		2021
	(In Thousands)
One- to four-family residential construction	$	—	$	—
Subdivision construction		—		—
Land development		468		468
Commercial construction		—		—
Owner occupied one- to four-family residential		2,004		2,216
Non-owner occupied one- to four-family residential		—		—
Commercial real estate		1,773		2,006
Other residential		—		—
Commercial business		—		—
Industrial revenue bonds		—		—
Consumer auto		49		34
Consumer other		57		63
Home equity lines of credit		618		636
Total non-accruing loans	$	4,969	$	5,423

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)
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 (credit) 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
Allowance for credit losses
Balance, January 1, 2022	$	9,364	$	10,502	$	28,604	$	2,797	$	4,142	$	5,345	$	60,754
Provision (credit) charged to expense		—		—		—		—		—		—		—
Losses charged off		(36)		—		—		—		—		(401)		(437)
Recoveries		54		—		—		—		20		406		480
Balance, March 31, 2022	$	9,382	$	10,502	$	28,604	$	2,797	$	4,162	$	5,350	$	60,797

	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 (credit) charged to expense		40		(412)		103		(400)		21		(25)		(673)
Balance, March 31, 2021	$	957	$	4,815	$	457	$	510	$	956	$	322	$	8,017
Allowance for unfunded commitments
Balance, January 1, 2022	$	687	$	5,703	$	367	$	908	$	1,582	$	382	$	9,629
Provision (credit) charged to expense		512		(1,003)		56		161		36		45		(193)
Balance, March 31, 2022	$	1,199	$	4,700	$	423	$	1,069	$	1,618	$	427	$	9,436

Schedule Of Amortized Cost Basis Of Collateral Dependent Loans By Class Of Loans

	March 31, 2022				December 31, 2021
	Principal		Specific		Principal		Specific
	Balance		Allowance		Balance		Allowance
	(In Thousands)
One- to four-family residential construction	$	—	$	—	$	—	$	—
Subdivision construction		—		—		—		—
Land development		468		—		468		—
Commercial construction		—		—		—		—
Owner occupied one- to four- family residential		1,900		17		1,980		18
Non-owner occupied one- to four-family residential		—		—		—		—
Commercial real estate		1,979		121		2,217		397
Other residential		—		—		—		—
Commercial business		—		—		—		—
Industrial revenue bonds		—		—		—		—
Consumer auto		—		—		—		—
Consumer other		160		80		160		80
Home equity lines of credit		371		—		377		—
Total	$	4,878	$	218	$	5,202	$	495

Schedule of troubled debt restructuring current period

	March 31, 2022
	Accruing TDR Loans			Non-accruing TDR Loans			Total TDR Loans
	Number	Balance		Number	Balance		Number	Balance
	(In Thousands)
Construction and land development	1	$	12	—	$	—	1	$	12
One- to four-family residential	7		616	11		993	18		1,609
Other residential	—		—	—		—	—		—
Commercial real estate	—		—	2		1,774	2		1,774
Commercial business	—		—	—		—	—		—
Consumer	16		270	13		65	29		335
	24	$	898	26	$	2,832	50	$	3,730

	December 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	$	15	—	$	—	1	$	15
One- to four-family residential	10		579	12		1,059	22		1,638
Other residential	—		—	—		—	—		—
Commercial real estate	1		85	1		1,726	2		1,811
Commercial business	—		—	—		—	—		—
Consumer	26		323	13		64	39		387
	38	$	1,002	26	$	2,849	64	$	3,851

Schedule of Financing Receivable, Troubled Debt Restructuring

	Three Months Ended March 31, 2022
							Total
	Interest Only		Term		Combination		Modification
	(In Thousands)
Commercial real estate	$	—	$	—	$	247	$	247
Consumer		—		4		3		7
	$	—	$	4	$	250	$	254

	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

Schedule of financing receivable credit quality indicators

	Term Loans by Origination Year
													Revolving
	2022 YTD		2021		2020		2019		2018		Prior		Loans		Total
	(In Thousands)
One- to four-family residential construction
Satisfactory (1-4)	$	3,214	$	18,939	$	3,816	$	867	$	—	$	4	$	—	$	26,840
Watch (5)		—		—		—		—		—		—		—		—
Special Mention (6)		—		—		—		—		—		—		—		—
Classified (7-9)		—		—		—		—		—		—		—		—
Total		3,214		18,939		3,816		867		—		4		—		26,840
Subdivision construction
Satisfactory (1-4)		727		24,125		943		209		144		1,027		—		27,175
Watch (5)		—		—		—		—		—		—		—		—
Special Mention (6)		—		—		—		—		—		—		—		—
Classified (7-9)		—		—		—		—		—		12		—		12
Total		727		24,125		943		209		144		1,039		—		27,187
Construction and land development
Satisfactory (1-4)		4,393		10,180		12,754		11,102		789		6,607		498		46,323
Watch (5)		—		—		—		—		—		—		—		—
Special Mention (6)		—		—		—		—		—		—		—		—
Classified (7-9)		—		—		—		—		—		—		468		468
Total		4,393		10,180		12,754		11,102		789		6,607		966		46,791
Other construction
Satisfactory (1-4)		10,124		146,013		219,022		63,265		—		—		—		438,424
Watch (5)		—		—		—		—		—		—		—		—
Special Mention (6)		—		—		—		—		—		—		—		—
Classified (7-9)		—		—		—		—		—		—		—		—
Total		10,124		146,013		219,022		63,265		—		—		—		438,424
One- to four-family residential
Satisfactory (1-4)		83,091		239,052		152,349		86,237		46,444		122,234		1,385		730,792
Watch (5)		—		—		—		—		91		263		66		420
Special Mention (6)		—		—		—		—		—		—		—		—
Classified (7-9)		—		—		—		128		—		1,151		47		1,326
Total		83,091		239,052		152,349		86,365		46,535		123,648		1,498		732,538
Other residential
Satisfactory (1-4)		16,003		124,361		202,360		169,732		170,735		150,466		12,690		846,347
Watch (5)		—		—		—		—		—		3,396		—		3,396
Special Mention (6)		—		—		—		—		—		—		—		—
Classified (7-9)		—		—		—		—		—		—		—		—
Total		16,003		124,361		202,360		169,732		170,735		153,862		12,690		849,743
Commercial real estate
Satisfactory (1-4)		119,339		168,776		100,003		211,453		224,534		692,189		13,712		1,530,006
Watch (5)		—		—		410		582		—		25,699		—		26,691
Special Mention (6)		—		—		—		—		—		—		—		—
Classified (7-9)		—		—		—		—		—		1,774		—		1,774
Total		119,339		168,776		100,413		212,035		224,534		719,662		13,712		1,558,471
Commercial business
Satisfactory (1-4)		10,056		69,215		34,822		16,964		15,613		75,122		82,120		303,912
Watch (5)		—		—		—		—		—		50		—		50
Special Mention (6)		—		—		—		—		—		—		—		—
Classified (7-9)		—		—		—		—		—		—		—		—
Total		10,056		69,215		34,822		16,964		15,613		75,172		82,120		303,962
Consumer
Satisfactory (1-4)		7,337		17,694		9,345		5,673		7,138		24,348		125,157		196,692
Watch (5)		—		—		—		—		19		168		28		215
Special Mention (6)		—		—		—		—		—		—		—		—
Classified (7-9)		—		—		2		—		18		281		314		615
Total		7,337		17,694		9,347		5,673		7,175		24,797		125,499		197,522
Combined
Satisfactory (1-4)		254,284		818,355		735,414		565,502		465,397		1,071,997		235,562		4,146,511
Watch (5)		—		—		410		582		110		29,576		94		30,772
Special Mention (6)		—		—		—		—		—		—		—		—
Classified (7-9)		—		—		2		128		18		3,218		829		4,195
Total	$	254,284	$	818,355	$	735,826	$	566,212	$	465,525	$	1,104,791	$	236,485	$	4,181,478

The following tables present a summary of loans by risk category and past due status separated by origination and loan class as of December 31, 2021. The remaining accretable discount of $429,000 has not been included in this table.

	Term Loans by Origination Year
														Revolving
	2021		2020		2019		2018		2017			Prior		Loans	Total
	(In Thousands)
One- to four-family residential construction
Satisfactory (1-4)	$	23,081	$	4,453	$	763	$	—	$	—	$	5	$	—	$	28,302
Watch (5)		—		—		—		—		—		—		—		—
Special Mention (6)		—		—		—		—		—		—		—		—
Classified (7-9)		—		—		—		—		—		—		—		—
Total		23,081		4,453		763		—		—		5		—		28,302
Subdivision construction
Satisfactory (1-4)		24,129		949		224		160		252		965		—		26,679
Watch (5)		—		—		—		—		—		—		—		—
Special Mention (6)		—		—		—		—		—		—		—		—
Classified (7-9)		—		—		—		—		—		15		—		15
Total		24,129		949		224		160		252		980		—		26,694
Construction and land development
Satisfactory (1-4)		9,968		15,965		11,115		2,591		3,013		4,184		527		47,363
Watch (5)		—		—		—		—		—		—		—		—
Special Mention (6)		—		—		—		—		—		—		—		—
Classified (7-9)		—		—		—		—		—		—		468		468
Total		9,968		15,965		11,115		2,591		3,013		4,184		995		47,831
Other construction
Satisfactory (1-4)		145,991		298,710		130,502		42,302		—		—		—		617,505
Watch (5)		—		—		—		—		—		—		—		—
Special Mention (6)		—		—		—		—		—		—		—		—
Classified (7-9)		—		—		—		—		—		—		—		—
Total		145,991		298,710		130,502		42,302		—		—		—		617,505
One- to four-family residential
Satisfactory (1-4)		237,498		169,765		93,648		49,618		14,707		113,059		1,662		679,957
Watch (5)		—		—		—		132		—		267		69		468
Special Mention (6)		—		—		—		—		—		—		—		—
Classified (7-9)		—		—		144		—		50		1,223		83		1,500
Total		237,498		169,765		93,792		49,750		14,757		114,549		1,814		681,925
Other residential
Satisfactory (1-4)		117,029		96,551		115,418		179,441		104,053		70,438		11,605		694,535
Watch (5)		—		—		—		—		—		3,417		—		3,417
Special Mention (6)		—		—		—		—		—		—		—		—
Classified (7-9)		—		—		—		—		—		—		—		—
Total		117,029		96,551		115,418		179,441		104,053		73,855		11,605		697,952
Commercial real estate
Satisfactory (1-4)		141,868		113,226		220,580		231,321		196,166		521,545		22,785		1,447,491
Watch (5)		—		410		582		—		—		25,742		—		26,734
Special Mention (6)		—		—		—		—		—		—		—		—
Classified (7-9)		—		—		—		—		—		2,006		—		2,006
Total		141,868		113,636		221,162		231,321		196,166		549,293		22,785		1,476,231
Commercial business
Satisfactory (1-4)		67,049		28,743		23,947		16,513		24,126		58,116		76,187		294,681
Watch (5)		—		—		—		—		—		58		—		58
Special Mention (6)		—		—		—		—		—		—		—		—
Classified (7-9)		—		—		—		—		—		—		—		—
Total		67,049		28,743		23,947		16,513		24,126		58,174		76,187		294,739
Consumer
Satisfactory (1-4)		20,140		11,138		7,154		9,065		4,175		24,280		130,111		206,063
Watch (5)		—		—		—		20		4		10		29		63
Special Mention (6)		—		—		—		—		—		—		—		—
Classified (7-9)		—		2		—		16		32		280		347		677
Total		20,140		11,140		7,154		9,101		4,211		24,570		130,487		206,803
Combined
Satisfactory (1-4)		786,753		739,500		603,351		531,011		346,492		792,592		242,877		4,042,576
Watch (5)		—		410		582		152		4		29,494		98		30,740
Special Mention (6)		—		—		—		—		—		—		—		—
Classified (7-9)		—		2		144		16		82		3,524		898		4,666
Total	$	786,753	$	739,912	$	604,077	$	531,179	$	346,578	$	825,610	$	243,873	$	4,077,982