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LOANS RECEIVABLE AND THE ALLOWANCE FOR CREDIT LOSSES
 3 Months Ended
Mar. 31, 2021
Receivables [Abstract]  
LOANS RECEIVABLE AND THE ALLOWANCE FOR LOAN LOSSES LOANS RECEIVABLE AND THE ALLOWANCE FOR CREDIT LOSSES - LOANS
The following table presents the loans receivable at March 31, 2021 and December 31, 2020 by class (dollars in thousands).
 March 31, 2021December 31, 2020
 AmountPercent of TotalAmountPercent of Total
Commercial real estate:    
Owner-occupied$1,045,656 10.5 %$1,076,467 10.9 %
Investment properties1,931,805 19.4 1,955,684 19.8 
Small balance CRE639,330 6.4 573,849 5.8 
Multifamily real estate433,775 4.3 428,223 4.4 
Construction, land and land development:
Commercial construction199,037 2.0 228,937 2.3 
Multifamily construction305,694 3.1 305,527 3.1 
One- to four-family construction542,840 5.5 507,810 5.1 
Land and land development266,730 2.7 248,915 2.5 
Commercial business:
Commercial business (1)
2,376,594 23.9 2,178,461 22.1 
Small business scored717,502 7.2 743,451 7.5 
Agricultural business, including secured by farmland (2)
262,410 2.6 299,949 3.0 
One- to four-family residential655,627 6.6 717,939 7.3 
Consumer:
Consumer—home equity revolving lines of credit
466,132 4.7 491,812 5.0 
Consumer—other104,565 1.1 113,958 1.2 
Total loans9,947,697 100.0 %9,870,982 100.0 %
Less allowance for credit losses - loans(156,054) (167,279) 
Net loans$9,791,643  $9,703,703  

(1)    Includes $1.28 billion and $1.04 billion of U.S. Small Business Administration (SBA) Paycheck Protection Program (PPP) loans as of March 31, 2021 and December 31, 2020, respectively.
(2)    Includes $36.3 million of PPP loans as of March 31, 2021 and none as of December 31, 2020.


Loan amounts are net of unearned loan fees in excess of unamortized costs of $35.5 million as of March 31, 2021 and $25.6 million as of December 31, 2020. Net loans include net discounts on acquired loans of $13.9 million and $16.1 million as of March 31, 2021 and December 31, 2020, respectively. Net loans does not include accrued interest receivable. Accrued interest receivable on loans was $38.2 million as of March 31, 2021 and $36.6 million as of December 31, 2020 and was reported in accrued interest receivable on the Consolidated Statements of Financial Condition.

Purchased credit-deteriorated and purchased non-credit-deteriorated loans. Loans acquired in business combinations are recorded at their fair value at the acquisition date. Acquired loans are evaluated upon acquisition and classified as either purchased credit-deteriorated (PCD) or purchased non-credit-deteriorated. There were no PCD loans acquired for the three months ended March 31, 2021.
Troubled Debt Restructurings. Loans are reported as TDRs when the bank grants one or more concessions to a borrower experiencing financial difficulties that it would not otherwise consider.  Our TDRs have generally not involved forgiveness of amounts due, but almost always include a modification of multiple factors; the most common combination includes interest rate, payment amount and maturity date.
As of March 31, 2021 and December 31, 2020, the Company had TDRs of $7.6 million and $7.9 million, respectively, and no commitments to advance additional funds related to TDRs.

There were no new TDRs that occurred during the three months ended March 31, 2021. The following table presents new TDRs that occurred during the three months ended March 31, 2020 (dollars in thousands):
 Three months ended March 31, 2020
 Number of
Contracts		Pre-
modification Outstanding
Recorded
Investment		Post-
modification Outstanding
Recorded
Investment
Recorded Investment    
Commercial business:
Commercial business2 4,796 4,796 
Total2 $4,796 $4,796 

There were no TDRs which incurred a payment default within twelve months of the restructure date during the three-month periods ended March 31, 2021 and 2020. A default on a TDR results in either a transfer to nonaccrual status or a partial charge-off, or both.

Credit Quality Indicators:  To appropriately and effectively manage the ongoing credit quality of the Company’s loan portfolio, management has implemented a risk-rating or loan grading system for its loans.  The system is a tool to evaluate portfolio asset quality throughout each applicable loan’s life as an asset of the Company.  Generally, loans are risk rated on an aggregate borrower/relationship basis with individual loans sharing similar ratings.  There are some instances when specific situations relating to individual loans will provide the basis for different risk ratings within the aggregate relationship.  Loans are graded on a scale of 1 to 9.  A description of the general characteristics of these categories is shown below:

Overall Risk Rating Definitions:  Risk-ratings contain both qualitative and quantitative measurements and take into account the financial strength of a borrower and the structure of the loan or lease.  Consequently, the definitions are to be applied in the context of each lending transaction and judgment must also be used to determine the appropriate risk rating, as it is not unusual for a loan or lease to exhibit characteristics of more than one risk-rating category.  Consideration for the final rating is centered in the borrower’s ability to repay, in a timely fashion, both principal and interest.  The Company’s risk-rating and loan grading policies are reviewed and approved annually. There were no material changes in the risk-rating or loan grading system for the periods presented.

Risk Ratings 1-5: Pass
Credits with risk ratings of 1 to 5 meet the definition of a pass risk rating. The strength of credits vary within the pass risk ratings, ranging from a risk rated 1 being an exceptional credit to a risk rated 5 being an acceptable credit that requires a more than normal level of supervision.

Risk Rating 6: Special Mention
A credit with potential weaknesses that deserves management’s close attention is risk rated a 6.  If left uncorrected, these potential weaknesses will result in deterioration in the capacity to repay debt.  A key distinction between Special Mention and Substandard is that in a Special Mention credit, there are identified weaknesses that pose potential risk(s) to the repayment sources, versus well defined weaknesses that pose risk(s) to the repayment sources.  Assets in this category are expected to be in this category no more than 9-12 months as the potential weaknesses in the credit are resolved.

Risk Rating 7: Substandard
A credit with well-defined weaknesses that jeopardize the ability to repay in full is risk rated a 7.  These credits are inadequately protected by either the sound net worth and payment capacity of the borrower or the value of pledged collateral.  These are credits with a distinct possibility of loss.  Loans headed for foreclosure and/or legal action due to deterioration are rated 7 or worse.

Risk Rating 8: Doubtful
A credit with an extremely high probability of loss is risk rated 8.  These credits have all the same critical weaknesses that are found in a substandard loan; however, the weaknesses are elevated to the point that based upon current information, collection or liquidation in full is improbable.  While some loss on doubtful credits is expected, pending events may make the amount and timing of any loss indeterminable.  In these situations taking the loss is inappropriate until the outcome of the pending event is clear.

Risk Rating 9: Loss
A credit that is considered to be currently uncollectible or of such little value that it is no longer a viable bank asset is risk rated 9.  Losses should be taken in the accounting period in which the credit is determined to be uncollectible.  Taking a loss does not mean that a credit has absolutely no recovery or salvage value but, rather, it is not practical or desirable to defer writing off the credit, even though partial recovery may occur in the future.
The following tables present the Company’s portfolio of risk-rated loans by class and by grade as of March 31, 2021 and December 31, 2020 (in thousands). Revolving loans that are converted to term loans are treated as new originations in the table below and are presented by year of origination. Term loans that are renewed or extended for periods longer than 90 days are presented as a new origination in the year of the most recent renewal or extension.
March 31, 2021
Term Loans by Year of OriginationRevolving LoansTotal Loans
By class:20212020201920182017Prior
Commercial real estate - owner occupied
Risk Rating
Pass$39,192 $236,836 $158,294 $147,397 $98,352 $266,316 $5,455 $951,842 
Special Mention— — 16,835 — 2,217 87 — 19,139 
Substandard45 7,096 24,526 2,329 2,311 38,368 — 74,675 
Doubtful— — — — — — — — 
Loss— — — — — — — — 
Total Commercial real estate - owner occupied$39,237 $243,932 $199,655 $149,726 $102,880 $304,771 $5,455 $1,045,656 
Commercial real estate - investment properties
Risk Rating
Pass$41,181 $238,095 $260,934 $284,975 $226,762 $711,557 $20,001 $1,783,505 
Special Mention— — — — — 11,079 — 11,079 
Substandard422 28,529 11,383 20,864 36,212 39,811 — 137,221 
Doubtful— — — — — — — — 
Loss— — — — — — — — 
Total Commercial real estate - investment properties$41,603 $266,624 $272,317 $305,839 $262,974 $762,447 $20,001 $1,931,805 
Multifamily real estate
Risk Rating
Pass$16,005 $76,245 $71,073 $37,683 $93,037 $133,912 $2,080 $430,035 
Special Mention— — — — — — — — 
Substandard— 2,312 1,428 — — — — 3,740 
Doubtful— — — — — — — — 
Loss— — — — — — — — 
Total Multifamily real estate$16,005 $78,557 $72,501 $37,683 $93,037 $133,912 $2,080 $433,775 
March 31, 2021
Term Loans by Year of OriginationRevolving LoansTotal Loans
By class:20212020201920182017Prior
Commercial construction
Risk Rating
Pass$4,182 $94,483 $42,572 $38,566 $332 $527 $— $180,662 
Special Mention— — 5,967 — — — — 5,967 
Substandard3,507 — 3,938 4,865 — 98 — 12,408 
Doubtful— — — — — — — — 
Loss— — — — — — — — 
Total Commercial construction$7,689 $94,483 $52,477 $43,431 $332 $625 $— $199,037 
Multifamily construction
Risk Rating
Pass$26,801 $84,144 $128,336 $51,514 $14,899 $— $— $305,694 
Special Mention— — — — — — — — 
Substandard— — — — — — — — 
Doubtful— — — — — — — — 
Loss— — — — — — — — 
Total Multifamily construction$26,801 $84,144 $128,336 $51,514 $14,899 $— $— $305,694 
One- to four- family construction
Risk Rating
Pass$204,174 $324,068 $10,374 $— $— $— $3,537 $542,153 
Special Mention— — — — — — — — 
Substandard356 — 331 — — — — 687 
Doubtful— — — — — — — — 
Loss— — — — — — — — 
Total One- to four- family construction$204,530 $324,068 $10,705 $— $— $— $3,537 $542,840 
March 31, 2021
Term Loans by Year of OriginationRevolving LoansTotal Loans
By class:20212020201920182017Prior
Land and land development
Risk Rating
Pass$50,665 $141,075 $26,180 $12,004 $6,567 $10,249 $16,751 $263,491 
Special Mention— — — — — — — — 
Substandard2,869 14 28 141 187 — — 3,239 
Doubtful— — — — — — — — 
Loss— — — — — — — — 
Total Land and land development$53,534 $141,089 $26,208 $12,145 $6,754 $10,249 $16,751 $266,730 
Commercial business
Risk Rating
Pass$440,419 $1,103,935 $211,237 $191,647 $62,188 $100,296 $211,777 $2,321,499 
Special Mention75 96 3,184 — 752 104 10,487 14,698 
Substandard2,235 3,620 4,912 18,140 4,860 1,583 5,047 40,397 
Doubtful— — — — — — — — 
Loss— — — — — — — — 
Total Commercial business$442,729 $1,107,651 $219,333 $209,787 $67,800 $101,983 $227,311 $2,376,594 
Agricultural business including secured by farmland
Risk Rating
Pass$12,322 $31,316 $55,503 $29,215 $20,206 $44,027 $61,005 $253,594 
Special Mention— — — — 810 — — 810 
Substandard— 445 2,548 803 144 2,175 1,891 8,006 
Doubtful— — — — — — — — 
Loss— — — — — — — — 
Total Agricultural business including secured by farmland$12,322 $31,761 $58,051 $30,018 $21,160 $46,202 $62,896 $262,410 
December 31, 2020
Term Loans by Year of OriginationRevolving LoansTotal Loans
By class:20202019201820172016Prior
Commercial real estate - owner occupied
Risk Rating
Pass$243,100 $156,838 $156,817 $122,484 $92,312 $212,792 $3,379 $987,722 
Special Mention— 4,560 — 2,251 — 1,869 149 8,829 
Substandard7,923 26,914 3,040 2,516 11,731 27,792 — 79,916 
Doubtful— — — — — — — — 
Loss— — — — — — — — 
Total Commercial real estate - owner occupied$251,023 $188,312 $159,857 $127,251 $104,043 $242,453 $3,528 $1,076,467 
Commercial real estate - investment properties
Risk Rating
Pass$237,553 $262,543 $299,452 $218,018 $278,348 $502,914 $20,062 $1,818,890 
Special Mention— 2,712 — — 2,730 1,856 — 7,298 
Substandard19,812 11,418 20,352 36,310 23,027 18,577 — 129,496 
Doubtful— — — — — — — — 
Loss— — — — — — — — 
Total Commercial real estate - investment properties$257,365 $276,673 $319,804 $254,328 $304,105 $523,347 $20,062 $1,955,684 
Multifamily real estate
Risk Rating
Pass$78,632 $69,825 $39,343 $93,442 $44,395 $96,863 $1,983 $424,483 
Special Mention— — — — — — — — 
Substandard2,312 1,428 — — — — — 3,740 
Doubtful— — — — — — — — 
Loss— — — — — — — — 
Total Multifamily real estate$80,944 $71,253 $39,343 $93,442 $44,395 $96,863 $1,983 $428,223 
December 31, 2020
Term Loans by Year of OriginationRevolving LoansTotal Loans
By class:20202019201820172016Prior
Commercial construction
Risk Rating
Pass$83,506 $67,152 $41,299 $6,038 $2,158 $1,129 $— $201,282 
Special Mention— 5,963 — — — — — 5,963 
Substandard12,913 3,808 4,873 — 98 — — 21,692 
Doubtful— — — — — — — — 
Loss— — — — — — — — 
Total Commercial construction$96,419 $76,923 $46,172 $6,038 $2,256 $1,129 $— $228,937 
Multifamily construction
Risk Rating
Pass$79,710 $151,141 $59,744 $14,932 $— $— $— $305,527 
Special Mention— — — — — — — — 
Substandard— — — — — — — — 
Doubtful— — — — — — — — 
Loss— — — — — — — — 
Total Multifamily construction$79,710 $151,141 $59,744 $14,932 $— $— $— $305,527 
One- to four- family construction
Risk Rating
Pass$461,294 $35,910 $— $— $— $— $7,581 $504,785 
Special Mention1,563 — — — — — 630 2,193 
Substandard501 331 — — — — — 832 
Doubtful— — — — — — — — 
Loss— — — — — — — — 
Total One- to four- family construction$463,358 $36,241 $— $— $— $— $8,211 $507,810 
December 31, 2020
Term Loans by Year of OriginationRevolving LoansTotal Loans
By class:20202019201820172016Prior
Land and land development
Risk Rating
Pass$156,450 $37,397 $16,560 $6,801 $6,264 $4,840 $17,020 $245,332 
Special Mention— — — — — — — — 
Substandard14 30 3,047 190 — 302 — 3,583 
Doubtful— — — — — — — — 
Loss— — — — — — — — 
Total Land and land development$156,464 $37,427 $19,607 $6,991 $6,264 $5,142 $17,020 $248,915 
Commercial business
Risk Rating
Pass$1,243,276 $230,845 $203,051 $65,524 $38,757 $66,206 $264,741 $2,112,400 
Special Mention103 412 — 829 — 115 9,507 10,966 
Substandard6,624 14,413 18,569 5,224 1,320 453 8,492 55,095 
Doubtful— — — — — — — — 
Loss— — — — — — — — 
Total Commercial business$1,250,003 $245,670 $221,620 $71,577 $40,077 $66,774 $282,740 $2,178,461 
Agricultural business including secured by farmland
Risk Rating
Pass$32,032 $62,058 $31,381 $22,635 $22,394 $24,950 $91,660 $287,110 
Special Mention— — — 810 — 537 — 1,347 
Substandard1,542 2,652 1,076 163 675 3,049 2,335 11,492 
Doubtful— — — — — — — — 
Loss— — — — — — — — 
Total Agricultural business including secured by farmland$33,574 $64,710 $32,457 $23,608 $23,069 $28,536 $93,995 $299,949 
The following tables present the Company’s portfolio of non-risk-rated loans by class and delinquency status as of March 31, 2021 and December 31, 2020 (in thousands). Revolving loans that are converted to term loans are treated as new originations in the table below and are presented by year of origination. Term loans that are renewed or extended for periods longer than 90 days are presented as a new origination in the year of the most recent renewal or extension.
March 31, 2021
Term Loans by Year of OriginationRevolving LoansTotal Loans
By class:20212020201920182017Prior
Small balance CRE
Past Due Category
Current$16,636 $86,223 $83,030 $89,631 $83,972 $275,125 $1,059 $635,676 
30-59 Days Past Due— — — — — 895 — 895 
60-89 Days Past Due— — — — — 1,978 — 1,978 
90 Days + Past Due— — — — 558 223 — 781 
Total small balance CRE$16,636 $86,223 $83,030 $89,631 $84,530 $278,221 $1,059 $639,330 
Small business scored
Past Due Category
Current$36,376 $148,553 $134,717 $114,934 $78,944 $99,736 $100,192 $713,452 
30-59 Days Past Due50 17 139 694 82 357 121 1,460 
60-89 Days Past Due— 755 54 89 47 — 3 948 
90 Days + Past Due— 130 18 280 617 597 — 1,642 
Total small business scored$36,426 $149,455 $134,928 $115,997 $79,690 $100,690 $100,316 $717,502 
One- to four- family residential
Past Due Category
Current$16,134 $113,853 $80,610 $79,090 $82,592 $276,047 $2,740 $651,066 
30-59 Days Past Due— 277 — 247 369 94 — 987 
60-89 Days Past Due— — — 19 — 2 — 21 
90 Days + Past Due41 — 972 174 — 2,366 — 3,553 
Total One- to four- family residential$16,175 $114,130 $81,582 $79,530 $82,961 $278,509 $2,740 $655,627 
March 31, 2021
Term Loans by Year of OriginationRevolving LoansTotal Loans
By class:20212020201920182017Prior
Consumer—home equity revolving lines of credit
Past Due Category
Current$8,652 $1,216 $3,046 $3,089 $2,484 $2,888 $442,660 $464,035 
30-59 Days Past Due— — 64 — — 193 207 464 
60-89 Days Past Due— — — — 109 — — 109 
90 Days + Past Due— — 413 196 127 556 232 1,524 
Total Consumer—home equity revolving lines of credit$8,652 $1,216 $3,523 $3,285 $2,720 $3,637 $443,099 $466,132 
Consumer-other
Past Due Category
Current$2,738 $19,754 $11,549 $12,375 $9,931 $24,136 $23,893 $104,376 
30-59 Days Past Due— — — 13 2 56 60 131 
60-89 Days Past Due— — 27 4 — 10 17 58 
90 Days + Past Due— — — — — — — — 
Total Consumer-other$2,738 $19,754 $11,576 $12,392 $9,933 $24,202 $23,970 $104,565 
December 31, 2020
Term Loans by Year of OriginationRevolving LoansTotal Loans
By class:20202019201820172016Prior
Small balance CRE
Past Due Category
Current$56,544 $80,090 $84,749 $77,637 $68,791 $202,653 $2,550 $573,014 
30-59 Days Past Due— — — — — — — — 
60-89 Days Past Due— — — 45 — — — 45 
90 Days + Past Due— — — 567 — 223 — 790 
Total small balance CRE$56,544 $80,090 $84,749 $78,249 $68,791 $202,876 $2,550 $573,849 
Small business scored
Past Due Category
Current$157,161 $145,037 $126,578 $89,734 $47,909 $63,347 $109,287 $739,053 
30-59 Days Past Due129 62 310 723 4 1 230 1,459 
60-89 Days Past Due98 147 3 140 — 352 151 891 
90 Days + Past Due73 228 800 484 169 248 46 2,048 
Total small business scored$157,461 $145,474 $127,691 $91,081 $48,082 $63,948 $109,714 $743,451 
One- to four- family residential
Past Due Category
Current$105,411 $90,425 $92,232 $101,491 $60,738 $254,850 $3,164 $708,311 
30-59 Days Past Due1,051 — 1,302 829 — 1,438 — 4,620 
60-89 Days Past Due— — 19 — — 936 — 955 
90 Days + Past Due— 114 1,185 456 169 2,129 — 4,053 
Total One- to four- family residential$106,462 $90,539 $94,738 $102,776 $60,907 $259,353 $3,164 $717,939 
December 31, 2020
Term Loans by Year of OriginationRevolving LoansTotal Loans
By class:20202019201820172016Prior
Consumer—home equity revolving lines of credit
Past Due Category
Current$10,522 $2,617 $2,553 $3,359 $1,372 $2,154 $466,490 $489,067 
30-59 Days Past Due— — — — — 50 409 459 
60-89 Days Past Due— 202 — — — 237 — 439 
90 Days + Past Due— 312 198 564 286 255 232 1,847 
Total Consumer—home equity revolving lines of credit$10,522 $3,131 $2,751 $3,923 $1,658 $2,696 $467,131 $491,812 
Consumer-other
Past Due Category
Current$21,811 $13,377 $13,936 $11,433 $8,575 $18,802 $25,460 $113,394 
30-59 Days Past Due48 35 15 22 46 26 44 236 
60-89 Days Past Due242 — — 33 21 14 18 328 
90 Days + Past Due— — — — — — — — 
Total Consumer-other$22,101 $13,412 $13,951 $11,488 $8,642 $18,842 $25,522 $113,958 
The following tables provide the amortized cost basis of collateral-dependent loans as of March 31, 2021 and December 31, 2020 (in thousands). Our collateral dependent loans presented in the tables below have no significant concentrations by property type or location.
 March 31, 2021
Real EstateAccounts ReceivableEquipmentInventoryTotal
Commercial real estate:  
Owner-occupied$4,684 $— $— $— $4,684 
Investment properties12,568 — — — 12,568 
Small balance CRE3,090 — — — 3,090 
Commercial business
Commercial business557 — 73 — 630 
Small business scored43 — 47 — 90 
Agricultural business, including secured by farmland
427 — 930 — 1,357 
Total$21,369 $— $1,050 $— $22,419 

 December 31, 2020
Real EstateAccounts ReceivableEquipmentInventoryTotal
Commercial real estate:  
Owner-occupied$7,506 $— $— $— $7,506 
Investment properties8,979 — — — 8,979 
Small balance CRE567 — — — 567 
Land and land development302 — — — 302 
Commercial business
Commercial business557 — — — 557 
Small business scored44 — 47 — 91 
Agricultural business, including secured by farmland
427 — 984 — 1,411 
One- to four-family residential196 — — — 196 
Total$18,578 $— $1,031 $— $19,609 
The following tables provide additional detail on the age analysis of the Company’s past due loans as of March 31, 2021 and December 31, 2020 (in thousands):
 March 31, 2021
 30-59 Days
Past Due		60-89 Days
Past Due		90 Days or More
Past Due		Total
Past Due		CurrentTotal LoansNon-accrual with no Allowance
Total Non-accrual (1)
Loans 90 Days or More Past Due and Accruing
Commercial real estate:       
Owner-occupied$14,824 $4,687 $587 $20,098 $1,025,558 $1,045,656 $4,687 $5,416 $— 
Investment properties1 1,322 3,709 5,032 1,926,773 1,931,805 12,568 12,568 — 
Small balance CRE895 1,978 781 3,654 635,676 639,330 3,086 3,631 — 
Multifamily real estate— — — — 433,775 433,775 — — — 
Construction, land and land development:
Commercial construction— — 98 98 198,939 199,037 — 98 — 
Multifamily construction— — — — 305,694 305,694 — — — 
One- to four-family construction170 — — 170 542,670 542,840 — 687 — 
Land and land development— — 14 14 266,716 266,730 — 201 — 
Commercial business
Commercial business159 558 228 945 2,375,649 2,376,594 628 1,266 — 
Small business scored1,460 948 1,642 4,050 713,452 717,502 90 2,928 37 
Agricultural business, including secured by farmland
— — 1,536 1,536 260,874 262,410 1,357 1,536 — 
One- to four-family residential987 21 3,553 4,561 651,066 655,627 — 4,456 1,524 
Consumer:
Consumer—home equity revolving lines of credit464 109 1,524 2,097 464,035 466,132 — 2,234 — 
Consumer—other131 58 — 189 104,376 104,565 — 10 — 
Total$19,091 $9,681 $13,672 $42,444 $9,905,253 $9,947,697 $22,416 $35,031 $1,561 
 December 31, 2020
 30-59 Days
Past Due		60-89 Days
Past Due		90 Days or More
Past Due		Total
Past Due		CurrentTotal LoansNon-accrual with no Allowance
Total Non-accrual (1)
Loans 90 Days or More Past Due and Accruing
Commercial real estate:       
Owner-occupied$— $182 $1,447 $1,629 $1,074,838 $1,076,467 $7,509 $8,429 $— 
Investment properties— — 7,981 7,981 1,947,703 1,955,684 8,979 8,979 — 
Small balance CRE— 45 790 835 573,014 573,849 567 791 — 
Multifamily real estate— — — — 428,223 428,223 — — — 
Construction, land and land development:
Commercial construction— — 98 98 228,839 228,937 — 98 — 
Multifamily construction— — — — 305,527 305,527 — — — 
One- to four-family construction356 — 331 687 507,123 507,810 — 331 — 
Land and land development— — 317 317 248,598 248,915 302 507 — 
Commercial business
Commercial business3,247 31 2,088 5,366 2,173,095 2,178,461 555 1,988 889 
Small business scored1,459 891 2,048 4,398 739,053 743,451 91 3,419 136 
Agricultural business, including secured by farmland
298 37 1,548 1,883 298,066 299,949 1,412 1,743 — 
One-to four-family residential4,620 955 4,053 9,628 708,311 717,939 171 3,556 1,899 
Consumer:
Consumer secured by one- to four-family459 439 1,847 2,745 489,067 491,812 — 2,697 130 
Consumer—other236 328 — 564 113,394 113,958 — 22 — 
Total$10,675 $2,908 $22,548 $36,131 $9,834,851 $9,870,982 $19,586 $32,560 $3,054 

(1)     The Company did not recognize any interest income on non-accrual loans during both the three months ended March 31, 2021 and the year ended December 31, 2020.
The following tables provide the activity in the allowance for credit losses by portfolio segment for the three months ended March 31, 2021 and 2020 (in thousands):
 For the Three Months Ended March 31, 2021
 Commercial
Real Estate		Multifamily
Real Estate		Construction and LandCommercial BusinessAgricultural BusinessOne- to Four-Family ResidentialConsumerUnallocatedTotal
Allowance for credit losses:        
Beginning balance$57,791 $3,893 $41,295 $35,007 $4,914 $9,913 $14,466 $— $167,279 
Provision/(recapture) for credit losses5,359 474 (4,955)(3,786)(297)(2,038)(2,792)— (8,035)
Recoveries24 — 100 979 — 113 296 — 1,512 
Charge-offs(3,763)— — (789)— — (150)— (4,702)
Ending balance$59,411 $4,367 $36,440 $31,411 $4,617 $7,988 $11,820 $— $156,054 

The changes in the allowance for credit losses during the three months ended March 31, 2021 were primarily the result of the $8.0 million recapture of provision for credit losses recorded as well as the net charge offs of $3.2 million recognized during the current quarter. The recapture of provision for credit losses for the current quarter primarily reflects the decrease in loan balances, excluding the increase in PPP loans, as well as improvement in the forecasted economic indicators.
 For the Three Months Ended March 31, 2020
 Commercial
 Real Estate		Multifamily
Real Estate		Construction and LandCommercial BusinessAgricultural BusinessOne- to Four-Family ResidentialConsumerUnallocatedTotal
Allowance for credit losses:         
Beginning balance$30,591 $4,754 $22,994 $23,370 $4,120 $4,136 $8,202 $2,392 $100,559 
Impact of Adopting ASC 326(2,864)(2,204)2,515 3,010 (351)7,125 2,973 (2,392)7,812 
Provision/(recapture) for credit losses1,545 321 8,708 6,447 (1,006)539 5,159 — 21,713 
Recoveries167 — — 205 1,750 148 96 — 2,366 
Charge-offs(100)(66)— (1,384)— (64)(348)— (1,962)
Ending balance$29,339 $2,805 $34,217 $31,648 $4,513 $11,884 $16,082 $— $130,488