Loans (Tables)

3 Months Ended

Mar. 31, 2023

Notes Tables

Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]

		March 31,		December 31,
	2023		2022
	(In thousands)
Multi-family residential	$	2,601,174	$	2,601,384
Commercial real estate		1,904,293		1,913,040
One-to-four family ― mixed-use property		549,207		554,314
One-to-four family ― residential		238,417		241,246
Construction		60,486		70,951
Small Business Administration (1)		22,860		23,275
Commercial business and other		1,518,756		1,521,548
Gross loans		6,895,193		6,925,758
Net unamortized premiums and unearned loan fees		8,983		9,011
Total loans, net of fees and costs	$	6,904,176	$	6,934,769

Schedule of TDR loan modifications

	For the three months ended,
	March 31, 2022
(Dollars in thousands)	Number			Modification description
Small Business Administration	1	$	271	Loan amortization extension.
Commercial business and other	2		2,768	One loan received a below market interest rate and one loan had an amortization extension.
Total	3	$	3,039

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 three months ended March 31, 2023
(In thousands)		Non-accrual amortized cost beginning of the reporting period		Non-accrual amortized cost end of the reporting period		Non-accrual with no related allowance		Interest income recognized		Loans ninety days or more past due and still accruing
Multi-family residential	$	3,547	$	3,975	$	3,975	$	2	$	—
Commercial real estate		254		—		—		—		—
One-to-four family - mixed-use property		1,045		797		797		—		—
One-to-four family - residential		3,953		4,396		4,396		—		—
Small Business Administration		950		949		949		—		—
Commercial business and other		20,193		10,838		3,283		2		—
Total	$	29,942	$	20,955	$	13,400	$	4	$	—

	At or for the year ended December 31, 2022
(In thousands)		Non-accrual amortized cost beginning of the reporting period		Non-accrual amortized cost end of the reporting period		Non-accrual with no related allowance		Interest income recognized		Loans ninety days or more past due and still accruing
Multi-family residential	$	2,652	$	3,547	$	3,547	$	—	$	—
Commercial real estate		640		254		254		—		—
One-to-four family - mixed-use property (1)		1,582		1,045		1,045		—		—
One-to-four family - residential		7,483		3,953		3,953		—		—
Small Business Administration		952		950		950		—		—
Construction		—		—		—		—		2,600
Commercial business and other (1)		1,945		20,193		3,291		171		—
Total	$	15,254	$	29,942	$	13,040	$	171	$	2,600

(1) Included in the above analysis are non-accrual performing TDR one-to-four family – mixed-use property totaling $0.3 million at December 31, 2022. Commercial business and other contains a non-accrual performing TDR totaling less than $0.1 million at December 31, 2022.

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

	For the year ended
	March 31
	2023		2022
(In thousands)
Interest income that would have been recognized had the loans performed in accordance with their original terms	$	506	$	371	(1)
Less: Interest income included in the results of operations		4		155	(2)
Total foregone interest	$	502	$	216

(1) For the three months ended March 31, 2022, $192 thousand is related to loans classified as TDR.

(2) For the three months ended March 31, 2022, $151 thousand is related to loans classified as TDR.

Summary of aging analysis of amortized cost basis of loans

	March 31, 2023
					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	$	3,464	$	—	$	3,975	$	7,439	$	2,596,735	$	2,604,174
Commercial real estate		—		179		—		179		1,905,528		1,905,707
One-to-four family - mixed-use property		2,562		381		797		3,740		548,231		551,971
One-to-four family - residential		2,382		68		4,396		6,846		232,739		239,585
Construction		—		—		—		—		60,373		60,373
Small Business Administration		142		1,679		949		2,770		19,990		22,760
Commercial business and other		33		20		7,829		7,882		1,511,724		1,519,606
Total	$	8,583	$	2,327	$	17,946	$	28,856	$	6,875,320	$	6,904,176

	December 31, 2022
					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	$	1,475	$	1,787	$	3,547	$	6,809	$	2,598,363	$	2,605,172
Commercial real estate		2,561		—		254		2,815		1,912,083		1,914,898
One-to-four family - mixed-use property		3,721		—		797		4,518		552,777		557,295
One-to-four family - residential		2,734		—		3,953		6,687		235,793		242,480
Construction		—		—		2,600		2,600		68,224		70,824
Small Business Administration		329		—		950		1,279		21,914		23,193
Commercial business and other		7,636		16		10,324		17,976		1,502,931		1,520,907
Total	$	18,456	$	1,803	$	22,425	$	42,684	$	6,892,085	$	6,934,769

Summary of activity in the allowance for loan losses

	March 31, 2023
					One-to-four
					family -		One-to-four						Commercial
	Multi-family		Commercial		mixed-use		family -		Construction		Small Business		business and
(In thousands)	residential		real estate		property		residential		loans		Administration		other		Total
Beginning balance	$	9,552	$	8,184	$	1,875	$	901	$	261	$	2,198	$	17,471	$	40,442
Charge-offs		—		—		—		(6)		—		(6)		(9,286)		(9,298)
Recoveries		1		—		—		42		—		12		9		64
Provision (benefit)		(512)		(513)		(165)		(210)		(109)		(35)		9,065		7,521
Ending balance	$	9,041	$	7,671	$	1,710	$	727	$	152	$	2,169	$	17,259	$	38,729

	March 31, 2022
					One-to-four
					family -		One-to-four						Commercial
	Multi-family		Commercial		mixed-use		family -		Construction		Small Business		business and
(In thousands)	residential		real estate		property		residential		loans		Administration		other		Total
Beginning balance	$	8,185	$	7,158	$	1,755	$	784	$	186	$	1,209	$	17,858	$	37,135
Charge-offs		—		—		—		—		—		(1,028)		(8)		(1,036)
Recoveries		—		—		—		2		—		13		74		101
Provision (benefit)		376		558		109		(20)		82		1,643		(1,503)		1,233
Ending balance	$	8,561	$	7,716	$	1,864	$	766	$	268	$	1,837	$	16,421	$	37,433

Summary of 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		Revolving Loans
														Amortized Cost		converted to
(In thousands)		2023		2022		2021		2020		2019		Prior		Basis		term loans		Total
Multi-family
Pass	$	48,865	$	480,178	$	285,357	$	222,748	$	310,618	$	1,215,855	$	4,601	$	—	$	2,568,222
Watch		—		902		—		2,346		—		26,616		—		—		29,864
Special Mention		—		—		—		—		—		1,326		—		—		1,326
Substandard		—		—		—		—		—		4,762		—		—		4,762
Total Multi-family	$	48,865	$	481,080	$	285,357	$	225,094	$	310,618	$	1,248,559	$	4,601	$	—	$	2,604,174
Commercial Real Estate
Pass	$	18,305	$	327,129	$	181,002	$	151,568	$	223,378	$	969,174	$	—	$	—	$	1,870,556
Watch		—		1,965		1,525		—		9,570		21,899		—		—		34,959
Special Mention		—		—		—		—		—		183		—		—		183
Substandard		—		—		—		—		—		9		—		—		9
Total Commercial Real Estate	$	18,305	$	329,094	$	182,527	$	151,568	$	232,948	$	991,265	$	—	$	—	$	1,905,707
1-4 Family Mixed-Use
Pass	$	5,519	$	44,641	$	42,764	$	32,360	$	63,079	$	353,651	$	—	$	—	$	542,014
Watch		—		—		—		878		727		6,541		—		—		8,146
Special Mention		—		—		—		—		—		840		—		—		840
Substandard		—		—		—		—		—		971		—		—		971
Total 1-4 Family Mixed-Use	$	5,519	$	44,641	$	42,764	$	33,238	$	63,806	$	362,003	$	—	$	—	$	551,971
1-4 Family Residential
Pass	$	4,146	$	23,573	$	8,640	$	18,034	$	41,567	$	114,894	$	7,905	$	11,827	$	230,586
Watch		—		515		282		—		736		1,374		63		1,228		4,198
Substandard		—		—		—		—		—		4,358		—		443		4,801
Total 1-4 Family Residential	$	4,146	$	24,088	$	8,922	$	18,034	$	42,303	$	120,626	$	7,968	$	13,498	$	239,585
Gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	6	$	—	$	—	$	6
Construction
Pass	$	3,089	$	1,899	$	17,660	$	—	$	—		—	$	35,125	$	—	$	57,773
Substandard		—		—		—		—		—		2,600		—		—		2,600
Total Construction	$	3,089	$	1,899	$	17,660	$	—	$	—	$	2,600	$	35,125	$	—	$	60,373
Small Business Administration
Pass	$	—	$	3,335	$	3,348	$	3,977	$	666	$	2,736	$	—	$	—	$	14,062
Watch		—		—		593		—		50		5,162		—		—		5,805
Special Mention		—		—		1,679		—		—		37		—		—		1,716
Substandard		—		—		—		—		—		1,177		—		—		1,177
Total Small Business Administration	$	—	$	3,335	$	5,620	$	3,977	$	716	$	9,112	$	—	$	—	$	22,760
Gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	6	$	—	$	—	$	6
Commercial Business
Pass	$	28,793	$	160,797	$	81,582	$	39,877	$	39,603	$	71,738	$	273,682	$	—	$	696,072
Watch		—		415		8,583		—		16,492		31,837		1,209		—		58,536
Special Mention		—		—		—		4,759		33		3,943		—		—		8,735
Substandard		—		2,373		2,444		—		47		1,762		3,079		—		9,705
Doubtful		—		—		—		—		—		—		4,702		—		4,702
Total Commercial Business	$	28,793	$	163,585	$	92,609	$	44,636	$	56,175	$	109,280	$	282,672	$	—	$	777,750
Gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	9,267	$	—	$	9,267
Commercial Business - Secured by RE
Pass	$	13,955	$	181,634	$	138,718	$	108,771	$	41,827	$	153,310	$	—	$	—	$	638,215
Watch		—		—		—		—		26,220		59,250		—		—		85,470
Special Mention		—		—		—		—		15,198		—		—		—		15,198
Substandard		—		2,853		—		—		—		—		—		—		2,853
Total Commercial Business - Secured by RE	$	13,955	$	184,487	$	138,718	$	108,771	$	83,245	$	212,560	$	—	$	—	$	741,736
Other
Pass	$	—	$	—	$	—	$	—	$	—	$	50	$	70	$	—	$	120
Total Other	$	—	$	—	$	—	$	—	$	—	$	50	$	70	$	—	$	120
Gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	19	$	—	$	—	$	19
Total by Loan Type
Total Pass	$	122,672	$	1,223,186	$	759,071	$	577,335	$	720,738	$	2,881,408	$	321,383	$	11,827	$	6,617,620

Total Watch		—		3,797		10,983		3,224		53,795		152,679		1,272		1,228		226,978
Total Special Mention		—		—		1,679		4,759		15,231		6,329		—		—		27,998
Total Substandard		—		5,226		2,444		—		47		15,639		3,079		443		26,878
Total Doubtful		—		—		—		—		—		—		4,702		—		4,702
Total Loans	$	122,672	$	1,232,209	$	774,177	$	585,318	$	789,811	$	3,056,055	$	330,436	$	13,498	$	6,904,176
Total Gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	31	$	9,267	$	—	$	9,298

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

	Collateral Type
	March 31, 2023				December 31, 2022
(In thousands)		Real Estate		Business Assets		Real Estate		Business Assets
Multi-family residential	$	3,975	$	—	$	3,547	$	—
Commercial real estate		—		—		254		—
One-to-four family - mixed-use property		797		—		1,045		—
One-to-four family - residential		4,396		—		3,953		—
Small Business Administration		—		949		—		950
Commercial business and other		2,853		7,985		2,853		17,340
Total	$	12,021	$	8,934	$	11,652	$	18,290

Summary of allowance for off balance sheet

	For the three months ended
	March 31,
	2023		2022
	(In thousands)
Balance at beginning of period	$	970	$	1,209
(Benefit) provision		(85)		380

Allowance for Off-Balance Sheet - Credit losses ⁽¹⁾ $ 885 $ 1,589

(1) Included in “Other liabilities” on the Consolidated Statements of Financial Condition.

Nonperforming Financial Instruments [Member]

Notes Tables

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

	December 31, 2022
	Number	Amortized
(Dollars in thousands)	of contracts	Cost
Commercial business and other	2	$	3,263
Total troubled debt restructurings that subsequently defaulted	2	$	3,263

Performing According to Restructured Terms [Member]

Notes Tables

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

	December 31, 2022
	Number	Amortized
(Dollars in thousands)	of contracts	Cost
Multi-family residential	6	$	1,673
Commercial real estate	1		7,572
One-to-four family - mixed-use property	4		1,222
One-to-four family - residential	1		253
Small Business Administration	1		242
Commercial business and other	3		855
Total performing	16	$	11,817