XML 40 R29.htm IDEA: XBRL DOCUMENT

Loans (Tables)

6 Months Ended

Jun. 30, 2020

Schedule of non-accrual loans at amortized cost with no related allowance and interest income recognized for loans ninety days or more past due and still accruing


	At or for the six months ended June 30, 2020
				Non-Accrual				Loans ninety days
		Total Non-Accrual		with no related		Interest Income		or more past due
(In thousands)		Amortized Cost		Allowance		Recognized		and still accruing:
Multi-family residential	$	3,728	$	3,728	$	—	$	—
Commercial real estate		2,700		2,700		—		—
One-to-four family - mixed-use property		2,548		2,548		2		—
One-to-four family - residential		5,869		5,869		—		—
Small Business Administration		1,347		1,347		—		—
Taxi medallion⁽¹⁾		3,270		3,270		32		—
Commercial business and other⁽¹⁾		2,629		1,678		20		150
Total	$	22,091	$	21,140	$	54	$	150

(1)Included in the above analysis are non-accrual performing TDR taxi medallion loans totaling $1.5 million at June 30, 2020 and non-accrual performing TDR commercial business loans totaling $1.0 million at June 30, 2020.

Summary of interest foregone on non-accrual loans and loans classified as TDR


	For the three months ended				For the six months ended
	June 30,				June 30,
	2020		2019		2020		2019

	(In thousands)
Interest income that would have been recognized had the loans performed in accordance with their original terms	$	430	$	415	$	805	$	809
Less: Interest income included in the results of operations		73		123		162		241
Total foregone interest	$	357	$	292	$	643	$	568

Summary of aging of the amortized cost basis in past-due loans


	June 30, 2020
					Greater
	30 - 59 Days		60 - 89 Days		than		Total Past
(In thousands)	Past Due		Past Due		90 Days		Due		Current		Total Loans
Multi-family residential	$	10,700	$	1,292	$	3,728	$	15,720	$	2,276,642	$	2,292,362
Commercial real estate		9,727		1,259		2,700		13,686		1,635,564		1,649,250
One-to-four family - mixed-use property		6,851		1,252		2,548		10,651		585,053		595,704
One-to-four family - residential		3,337		3,342		5,869		12,548		182,244		194,792
Construction loans		—		—		—		—		69,257		69,257
Small Business Administration		—		266		1,347		1,613		103,855		105,468
Taxi medallion		—		—		1,195		1,195		2,075		3,270
Commercial business and other		982		4,784		1,828		7,594		1,065,578		1,073,172
Total	$	31,597	$	12,195	$	19,215	$	63,007	$	5,920,268	$	5,983,275

The following tables show by delinquency an analysis of our recorded investment in loans at the periods indicated by class of loans:


	December 31, 2019
					Greater
	30 - 59 Days		60 - 89 Days		than		Total Past
(In thousands)	Past Due		Past Due		90 Days		Due		Current		Total Loans
Multi-family residential	$	4,042	$	1,563	$	2,741	$	8,346	$	2,230,245	$	2,238,591
Commercial real estate		—		4,941		367		5,308		1,576,700		1,582,008
One-to-four family - mixed-use property		1,117		496		274		1,887		590,584		592,471
One-to-four family - residential		720		1,022		5,139		6,881		181,335		188,216
Co-operative apartments		—		—		—		—		8,663		8,663
Construction loans		—		—		—		—		67,754		67,754
Small Business Administration		—		—		1,151		1,151		13,294		14,445
Taxi medallion		—		—		1,065		1,065		2,244		3,309
Commercial business and other		2,340		5		1,945		4,290		1,057,188		1,061,478
Total	$	8,219	$	8,027	$	12,682	$	28,928	$	5,728,007	$	5,756,935

Summary of activity in the allowance for loan losses


	June 30, 2020
					One-to-four
					family -		One-to-four								Commercial
	Multi-family		Commercial		mixed-use		family -		Construction		Small Business		Taxi		business and
(In thousands)	residential		real estate		property		residential		loans		Administration		medallion		other		Total
Allowance for credit losses:
Beginning balance	$	5,895	$	6,791	$	2,170	$	892	$	185	$	1,528	$	—	$	10,637	$	28,098
Charge-offs		—		—		(3)		—		—		(178)		—		(849)		(1,030)
Recoveries		7		—		—		3		—		13		—		—		23
Provision (benefit)		3,033		180		659		266		(2)		23		—		5,460		9,619
Ending balance	$	8,935	$	6,971	$	2,826	$	1,161	$	183	$	1,386	$	—	$	15,248	$	36,710


	June 30, 2019
					One-to-four
					family -		One-to-four								Commercial
	Multi-family		Commercial		mixed-use		family -		Construction		Small Business		Taxi		business and
(In thousands)	residential		real estate		property		residential		loans		Administration		medallion		other		Total
Allowance for credit losses:
Beginning balance	$	5,493	$	4,278	$	1,791	$	731	$	351	$	409	$	—	$	7,962	$	21,015
Charge-offs		(1)		—		—		(113)		—		—		—		(1,000)		(1,114)
Recoveries		11		7		2		3		—		16		50		46		135
Provision (benefit)		3		(20)		(7)		125		30		(43)		(50)		1,436		1,474
Ending balance	$	5,506	$	4,265	$	1,786	$	746	$	381	$	382	$	—	$	8,444	$	21,510


	June 30, 2020
					One-to-four
					family -		One-to-four				Small				Commercial
	Multi-family		Commercial		mixed-use		family -		Construction		Business		Taxi		business and
(In thousands)	residential		real estate		property		residential		loans		Administration		medallion		other		Total

Allowance for credit losses:
Beginning balance	$	5,391	$	4,429	$	1,817	$	756	$	441	$	363	$	—	$	8,554	$	21,751
Impact of CECL Adoption		(650)		1,170		(55)		(160)		(279)		1,180		—		(827)		379
Charge-off's		—		—		(3)		—		—		(178)		—		(2,108)		(2,289)
Recoveries		13		—		78		8		—		20		—		14		133
Provision		4,181		1,372		989		557		21		1		—		9,615		16,736
Ending balance	$	8,935	$	6,971	$	2,826	$	1,161	$	183	$	1,386	$	—	$	15,248	$	36,710


	June 30, 2019
					One-to-four
					family -		One-to-four				Small				Commercial
	Multi-family		Commercial		mixed-use		family -		Construction		Business		Taxi		business and
(In thousands)	residential		real estate		property		residential		loans		Administration		medallion		other		Total

Allowance for credit losses:
Beginning balance	$	5,676	$	4,315	$	1,867	$	749	$	329	$	418	$	—	$	7,591	$	20,945
Charge-off's		(1)		—		(1)		(113)		—		—		—		(2,137)		(2,252)
Recoveries		24		7		88		7		—		20		134		91		371
Provision (Benefit)		(193)		(57)		(168)		103		52		(56)		(134)		2,899		2,446
Ending balance	$	5,506	$	4,265	$	1,786	$	746	$	381	$	382	$	—	$	8,444	$	21,510

Summary of risk category of mortgage and non-mortgage loans by loan portfolio segments and class of loans by year of origination

The following table summarizes the risk category of mortgage and non-mortgage loans by loan portfolio segments and class of loans by year of origination :


	For the year ended
														Revolving Loans,		Lines of Credit
														Amortized Cost		converted to
(In thousands)		2020		2019		2018		2017		2016		Prior		Basis		term loans
1-4 Family Residential
Pass	$	11,091	$	25,155	$	26,395	$	14,736	$	11,318	$	62,336	$	7,836	$	18,842
Watch		—		—		—		913		—		2,174		299		2,276
Special Mention		—		—		1,829		—		—		2,265		—		1,197
Substandard		—		—		—		—		955		3,663		146		1,366
Total 1-4 Family Residential	$	11,091	$	25,155	$	28,224	$	15,649	$	12,273	$	70,438	$	8,281	$	23,681
1-4 Family Mixed-Use
Pass	$	23,451	$	66,989	$	76,271	$	62,016	$	53,660	$	293,719	$	—	$	—
Watch		—		2,510		1,022		901		1,161		9,406		—		—
Special Mention		—		—		391		—		—		1,658		—		—
Substandard		—		—		794		—		—		1,755		—		—
Total 1-4 Family Mixed Use	$	23,451	$	69,499	$	78,478	$	62,917	$	54,821	$	306,538	$	—	$	—
Commercial Real Estate
Pass	$	90,991	$	250,747	$	282,767	$	195,472	$	231,133	$	491,110	$	—	$	—
Watch		—		9,072		—		2,599		22,694		66,239		—		—
Special Mention		—		—		—		—		1,357		2,370		—		—
Substandard		—		1,702		—		—		—		997		—		—
Total Commercial Real Estate	$	90,991	$	261,521	$	282,767	$	198,071	$	255,184	$	560,716	$	—	$	—
Construction
Pass	$	7,333	$	15,635	$	36,212	$	—	$	—	$	—	$	—	$	—
Watch		—		—		—		—		9,399		—		—		—
Special Mention		—		—		678		—		—		—		—		—
Total Construction	$	7,333	$	15,635	$	36,890	$	—	$	9,399	$	—	$	—	$	—
Multifamily
Pass	$	131,983	$	311,043	$	367,770	$	372,340	$	274,937	$	800,168	$	3,884	$	—
Watch		979		1,582		—		2,586		2,121		17,199		321		—
Special Mention		—		—		—		739		—		982		—		—
Substandard		—		—		1,988		—		709		1,031		—		—
Total Multifamily	$	132,962	$	312,625	$	369,758	$	375,665	$	277,767	$	819,380	$	4,205	$	—
Commercial Business - Secured by RE
Pass	$	61,354	$	91,638	$	56,916	$	22,223	$	44,822	$	83,498	$	—	$	—
Watch		—		—		7,085		1,320		2,681		3,750		—		—
Total Commercial Business - Secured by RE	$	61,354	$	91,638	$	64,001	$	23,543	$	47,503	$	87,248	$	—	$	—
Commercial Business
Pass	$	75,715	$	140,668	$	110,312	$	72,507	$	17,769	$	71,794	$	174,234	$	—
Watch		445		1,001		4,110		3,145		—		112		10,361		—
Special Mention		—		—		2,433		—		2,683		447		4,543		—
Substandard		—		51		—		3,355		—		1,680		348		—
Total Commercial Business	$	76,160	$	141,720	$	116,855	$	79,007	$	20,452	$	74,033	$	189,486	$	—
Small Business Administration
Pass	$	91,607	$	963	$	3,613	$	1,058	$	2,620	$	1,669	$	—	$	—
Watch		—		—		—		2,272		—		266		—		—
Special Mention		—		—		—		—		—		53		—		—
Substandard		—		—		—		1,170		177		—		—		—
Total Small Business Administration	$	91,607	$	963	$	3,613	$	4,500	$	2,797	$	1,988	$	—	$	—
Taxi Medallions
Substandard	$	—	$	—	$	—	$	—	$	—	$	3,270	$	—	$	—
Total Taxi Medallions	$	—	$	—	$	—	$	—	$	—	$	3,270	$	—	$	—
Other
Pass	$	—	$	—	$	—	$	—	$	—	$	48	$	124	$	—
Total Other	$	—	$	—	$	—	$	—	$	—	$	48	$	124	$	—

Total Loans	$	494,949	$	918,756	$	980,586	$	759,352	$	680,196	$	1,923,659	$	202,096	$	23,681

The following table sets forth the recorded investment in loans designated as Criticized or Classified at the period indicated:


	December 31, 2019
(In thousands)	Special Mention		Substandard		Doubtful		Loss		Total
Multi-family residential	$	1,563	$	2,743	$	—	$	—	$	4,306
Commercial real estate		5,525		367		—		—		5,892
One-to-four family - mixed-use property		1,585		453		—		—		2,038
One-to-four family - residential		1,095		5,787		—		—		6,882
Construction		—		—		—		—		—
Small Business Administration		55		85		—		—		140
Taxi medallion		—		3,309		—		—		3,309
Commercial business and other		3,924		11,289		266		—		15,479
Total loans	$	13,747	$	24,033	$	266	$	—	$	38,046

Summary of types of collateral-dependent loans by class of loans



	Collateral Type
(In thousands)		Real Estate		Business Assets
Multi-family residential	$	3,728	$	—
Commercial real estate		2,700		—
One-to-four family - mixed-use property		2,548		—
One-to-four family - residential		5,869		—
Small Business Administration		—		1,347
Commercial business and other		—		1,678
Taxi Medallion		—		3,270
Total	$	14,845	$	6,295

Nonperforming Financial Instruments [Member]

Notes Tables

Schedule of recorded investment for loans classified as TDR at amortized cost


	June 30, 2020
	Number	Recorded
(Dollars in thousands)	of contracts	investment
Taxi medallion	5	$	1,195
One-to-four family - mixed-use property	1		338
Commercial business and other	1		279
Total troubled debt restructurings that subsequently defaulted	7	$	1,812

The following table shows our recorded investment for loans classified as TDR that are not performing according to their restructured terms at the periods indicated:


	December 31, 2019
	Number	Recorded
(Dollars in thousands)	of contracts	investment
Taxi medallion	4	$	1,065
Commercial business and other	1		279
Total troubled debt restructurings that subsequently defaulted	5	$	1,344

Schedule of non-accrual loans at amortized cost with no related allowance and interest income recognized for loans ninety days or more past due and still accruing



	December 31,
(In thousands)	2019
Loans ninety days or more past due and still accruing:
Multi-family residential	$	445
Total		445
Non-accrual mortgage loans:
Multi-family residential		2,296
Commercial real estate		367
One-to-four family - mixed-use property		274
One-to-four family - residential		5,139
Total		8,076
Non-accrual non-mortgage loans:
Small Business Administration		1,151
Taxi medallion⁽¹⁾		1,641
Commercial business and other⁽¹⁾		1,945
Total		4,737
Total non-accrual loans		12,813
Total non-performing loans	$	13,258

(1)	Not included in the above analysis are non-accrual performing TDR taxi medallion loans totaling $1.7 million at December 31, 2019, respectively and non-accrual performing TDR commercial business loans totaling $0.9 million at December 31, 2019.

Performing According to Restructured Terms [Member]

Notes Tables

Schedule of recorded investment for loans classified as TDR at amortized cost


	June 30, 2020
	Number	Amortized
(Dollars in thousands)	of contracts	Cost
Multi-family residential	7	$	1,860
One-to-four family - mixed-use property	3		1,143
One-to-four family - residential	3		518
Taxi medallion ⁽¹⁾	6		1,512
Commercial business and other ⁽¹⁾	3		950
Total performing troubled debt restructured	22	$	5,983

(1)

These loans in the table above continue to pay as agreed, however the Company records interest received on a cash basis.

The following table shows our recorded investment for loans classified as TDR that are performing according to their restructured terms at the periods indicated :


	December 31, 2019
	Number	Recorded
(Dollars in thousands)	of contracts	investment
Multi-family residential	7	$	1,873
One-to-four family - mixed-use property	4		1,481
One-to-four family - residential	3		531
Taxi medallion ⁽¹⁾	7		1,668
Commercial business and other⁽¹⁾	3		941
Total performing troubled debt restructured	24	$	6,494

(1)

These loans in the table above continue to pay as agreed, however the Company records interest received on a cash basis.