LOANS AND ALLOWANCE FOR CREDIT LOSSES

Schedule of classes of loans by aging as of the dates indicated


	March 31, 2025
													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	$	6	$	—	$	—	$	6	$	28,783	$	28,789	$	—
Subdivision construction		—		—		—		—		25,289		25,289		—
Land development		—		—		368		368		38,766		39,134		—
Commercial construction		—		—		—		—		381,618		381,618		—
Owner occupied one- to four-family residential		2,038		103		1,418		3,559		692,726		696,285		—
Non-owner occupied one- to four-family residential		—		—		1,658		1,658		125,150		126,808		—
Commercial real estate		70		—		—		70		1,489,239		1,489,309		—
Other residential (multi-family)		—		—		—		—		1,592,470		1,592,470		—
Commercial business		55		35		—		90		217,010		217,100		—
Consumer auto		10		11		—		21		25,103		25,124		—
Consumer other		78		6		14		98		25,021		25,119		—
Home equity lines of credit		108		98		24		230		114,103		114,333		—
Total	$	2,365	$	253	$	3,482	$	6,100	$	4,755,278	$	4,761,378	$	—


	December 31, 2024
													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	$	12	$	—	$	—	$	12	$	30,521	$	30,533	$	—
Subdivision construction		—		—		—		—		19,861		19,861		—
Land development		—		—		464		464		42,040		42,504		—
Commercial construction		—		—		—		—		352,793		352,793		—
Owner occupied one- to four-family residential		1,704		816		950		3,470		706,976		710,446		—
Non-owner occupied one- to four-family residential		642		—		1,681		2,323		120,578		122,901		—
Commercial real estate		—		—		77		77		1,543,665		1,543,742		—
Other residential (multi-family)		—		—		—		—		1,549,249		1,549,249		—
Commercial business		—		—		384		384		219,907		220,291		—
Consumer auto		39		1		—		40		25,747		25,787		—
Consumer other		145		4		17		166		27,739		27,905		—
Home equity lines of credit		63		56		—		119		115,717		115,836		—
Total	$	2,605	$	877	$	3,573	$	7,055	$	4,754,793	$	4,761,848	$	—

Schedule of activity in the allowance for credit losses and unfunded commitments by portfolio segment


	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, January 1, 2024	$	9,820	$	13,370	$	28,171	$	2,844	$	6,935	$	3,530	$	64,670
Provision (credit) charged to expense		(107)		516		1,298		(96)		(1,596)		485		500
Losses charged off		(56)		—		—		—		(31)		(340)		(427)
Recoveries		3		—		—		—		88		253		344
Balance, March 31, 2024	$	9,660	$	13,886	$	29,469	$	2,748	$	5,396	$	3,928	$	65,087

Allowance for credit losses
Balance, January 1, 2025	$	9,224	$	15,594	$	28,802	$	2,735	$	4,656	$	3,749	$	64,760
Provision (credit) charged to expense		—		—		—		—		—		—		—
Losses charged off		(36)		—		(8)		—		(147)		(234)		(425)
Recoveries		4		—		—		194		13		158		369
Balance, March 31, 2025	$	9,192	$	15,594	$	28,794	$	2,929	$	4,522	$	3,673	$	64,704


	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, January 1, 2024	$	706	$	4,006	$	619	$	741	$	959	$	456	$	7,487
Provision (credit) charged to expense		(27)		(28)		(5)		(232)		394		28		130
Balance, March 31, 2024	$	679	$	3,978	$	614	$	509	$	1,353	$	484	$	7,617

Allowance for unfunded commitments
Balance, January 1, 2025	$	619	$	4,833	$	653	$	496	$	1,468	$	434	$	8,503
Provision (credit) charged to expense		39		(239)		(33)		(78)		(40)		3		(348)
Balance, March 31, 2025	$	658	$	4,594	$	620	$	418	$	1,428	$	437	$	8,155

Schedule of loan modifications made to borrowers experiencing financial difficulty by the loan portfolio and type of concessions granted

Amortized Cost Basis at March 31, 2025

Interest Rate

Term

Total

Reduction

Extension

Combination

Modifications

(In Thousands)

Construction and land development

$

—

$

—

$

—

$

—

One- to four-family residential

—

Other residential (multi-family)

—

Commercial real estate

—

Commercial business

—

Consumer

—

$

—

$

—

$

—

$

—


	Amortized Cost Basis at December 31, 2024
	Interest Rate		Term				Total
	Reduction		Extension		Combination		Modifications

		(In Thousands)
Construction and land development	$	—	$	—	$	—	$	—
One- to four-family residential		—		—		—		—
Other residential (multi-family)		—		2,709		—		2,709
Commercial real estate		—		70		—		70
Commercial business		—		—		—		—
Consumer		—		31		—		31
	$	—	$	2,810	$	—	$	2,810

Schedule of loans by category and risk rating separated by origination and loan class

The following tables present a summary of loans by category and risk rating separated by origination and loan class as of March 31, 2025 and December 31, 2024.


	Term Loans by Origination Year
													Revolving
March 31, 2025	2025 YTD		2024		2023		2022		2021		Prior		Loans		Total

	(In Thousands)
One- to four-family residential construction
Satisfactory (1-4)	$	2,188	$	10,472	$	7,763	$	822	$	—	$	—	$	7,544	$	28,789
Watch (5)		—		—		—		—		—		—		—		—
Special Mention (6)		—		—		—		—		—		—		—		—
Classified (7-9)		—		—		—		—		—		—		—		—
Total		2,188		10,472		7,763		822		—		—		7,544		28,789
Current Period Gross Charge Offs		—		—		—		—		—		—		—		—

Subdivision construction
Satisfactory (1-4)		147		4,083		413		393		17,972		501		1,780		25,289
Watch (5)		—		—		—		—		—		—		—		—
Special Mention (6)		—		—		—		—		—		—		—		—
Classified (7-9)		—		—		—		—		—		—		—		—
Total		147		4,083		413		393		17,972		501		1,780		25,289
Current Period Gross Charge Offs		—		—		—		—		—		—		—		—

Construction and land development
Satisfactory (1-4)		4,228		13,733		4,282		2,243		4,783		7,172		2,325		38,766
Watch (5)		—		—		—		—		—		—		—		—
Special Mention (6)		—		—		—		—		—		—		—		—
Classified (7-9)		—		—		—		—		—		368		—		368
Total		4,228		13,733		4,282		2,243		4,783		7,540		2,325		39,134
Current Period Gross Charge Offs		—		—		—		—		—		—		—		—

Other construction
Satisfactory (1-4)		23,397		110,485		40,420		177,171		30,145		—		—		381,618
Watch (5)		—		—		—		—		—		—		—		—
Special Mention (6)		—		—		—		—		—		—		—		—
Classified (7-9)		—		—		—		—		—		—		—		—
Total		23,397		110,485		40,420		177,171		30,145		—		—		381,618
Current Period Gross Charge Offs		—		—		—		—		—		—		—		—

One- to four-family residential
Satisfactory (1-4)		10,615		42,265		60,322		295,794		170,335		237,433		391		817,155
Watch (5)		—		—		—		—		—		734		—		734
Special Mention (6)		—		—		—		—		—		—		—		—
Classified (7-9)		—		—		605		638		319		1,166		2,476		5,204
Total		10,615		42,265		60,927		296,432		170,654		239,333		2,867		823,093
Current Period Gross Charge Offs		—		—		—		21		15		9		—		45

Other residential (multi-family)
Satisfactory (1-4)		30,500		65,997		101,592		578,456		507,131		302,564		3,533		1,589,773
Watch (5)		—		—		—		—		—		2,697		—		2,697
Special Mention (6)		—		—		—		—		—		—		—		—
Classified (7-9)		—		—		—		—		—		—		—		—
Total		30,500		65,997		101,592		578,456		507,131		305,261		3,533		1,592,470
Current Period Gross Charge Offs		—		—		—		—		—		—		—		—

Commercial real estate
Satisfactory (1-4)		4,582		98,742		80,799		309,392		195,071		744,926		32,165		1,465,677
Watch (5)		—		—		—		11,048		—		7,841		—		18,889
Special Mention (6)		—		—		—		—		—		430		—		430
Classified (7-9)		—		—		—		—		—		4,313		—		4,313
Total		4,582		98,742		80,799		320,440		195,071		757,510		32,165		1,489,309
Current Period Gross Charge Offs		—		—		—		—		8		—		—		8

Commercial business
Satisfactory (1-4)		14,770		29,443		22,888		19,152		19,338		45,073		61,378		212,042
Watch (5)		—		—		—		959		3,049		—		35		4,043
Special Mention (6)		—		—		—		980		—		35		—		1,015
Classified (7-9)		—		—		—		—		—		—		—		—
Total		14,770		29,443		22,888		21,091		22,387		45,108		61,413		217,100
Current Period Gross Charge Offs		—		—		—		—		—		135		12		147

Consumer
Satisfactory (1-4)		4,398		15,155		7,812		5,100		2,016		9,657		119,115		163,253
Watch (5)		—		—		—		2		—		195		77		274
Special Mention (6)		—		—		—		—		—		—		—		—
Classified (7-9)		—		8		18		8		16		50		949		1,049
Total		4,398		15,163		7,830		5,110		2,032		9,902		120,141		164,576
Current Period Gross Charge Offs		—		3		6		9		—		206		1		225

Combined
Satisfactory (1-4)		94,825		390,375		326,291		1,388,523		946,791		1,347,326		228,231		4,722,362
Watch (5)		—		—		—		12,009		3,049		11,467		112		26,637
Special Mention (6)		—		—		—		980		—		465		—		1,445
Classified (7-9)		—		8		623		646		335		5,897		3,425		10,934
Total	$	94,825	$	390,383	$	326,914	$	1,402,158	$	950,175	$	1,365,155	$	231,768	$	4,761,378
Current Period Gross Charge Offs	$	—	$	3	$	6	$	30	$	23	$	350	$	13	$	425


	Term Loans by Origination Year
													Revolving
December 31, 2024	2024		2023		2022		2021		2020		Prior		Loans		Total

	(In Thousands)
One- to four-family residential construction
Satisfactory (1-4)	$	11,750	$	8,961	$	822	$	—	$	—	$	—	$	9,000	$	30,533
Watch (5)		—		—		—		—		—		—		—		—
Special Mention (6)		—		—		—		—		—		—		—		—
Classified (7-9)		—		—		—		—		—		—		—		—
Total		11,750		8,961		822		—		—		—		9,000		30,533
Current Period Gross Charge Offs		—		—		—		—		—		—		—		—

Subdivision construction
Satisfactory (1-4)		711		182		136		17,609		29		205		989		19,861
Watch (5)		—		—		—		—		—		—		—		—
Special Mention (6)		—		—		—		—		—		—		—		—
Classified (7-9)		—		—		—		—		—		—		—		—
Total		711		182		136		17,609		29		205		989		19,861
Current Period Gross Charge Offs		—		—		—		—		—		—		—		—

Construction and land development
Satisfactory (1-4)		18,282		6,112		2,722		5,210		3,105		4,236		2,373		42,040
Watch (5)		—		—		—		—		—		—		—		—
Special Mention (6)		—		—		—		—		—		—		—		—
Classified (7-9)		—		—		—		—		464		—		—		464
Total		18,282		6,112		2,722		5,210		3,569		4,236		2,373		42,504
Current Period Gross Charge Offs		—		—		—		—		—		101		—		101

Other construction
Satisfactory (1-4)		78,337		52,046		189,389		33,021		—		—		—		352,793
Watch (5)		—		—		—		—		—		—		—		—
Special Mention (6)		—		—		—		—		—		—		—		—
Classified (7-9)		—		—		—		—		—		—		—		—
Total		78,337		52,046		189,389		33,021		—		—		—		352,793
Current Period Gross Charge Offs		—		—		—		—		—		—		—		—

One- to four-family residential
Satisfactory (1-4)		42,931		59,973		304,054		176,759		91,238		153,392		426		828,773
Watch (5)		—		—		—		—		145		597		—		742
Special Mention (6)		—		—		—		—		—		—		—		—
Classified (7-9)		—		628		387		129		—		1,178		1,510		3,832
Total		42,931		60,601		304,441		176,888		91,383		155,167		1,936		833,347
Current Period Gross Charge Offs		—		49		—		—		—		16		—		65

Other residential (multi-family)
Satisfactory (1-4)		66,028		92,268		552,183		506,902		179,094		146,712		3,352		1,546,539
Watch (5)		—		—		—		—		—		2,710		—		2,710
Special Mention (6)		—		—		—		—		—		—		—		—
Classified (7-9)		—		—		—		—		—		—		—		—
Total		66,028		92,268		552,183		506,902		179,094		149,422		3,352		1,549,249
Current Period Gross Charge Offs		—		—		—		—		—		—		—		—

Commercial real estate
Satisfactory (1-4)		97,512		81,282		320,442		217,049		96,246		682,549		35,937		1,531,017
Watch (5)		—		—		—		—		—		7,879		—		7,879
Special Mention (6)		—		—		—		—		—		438		—		438
Classified (7-9)		—		—		—		77		—		4,331		—		4,408
Total		97,512		81,282		320,442		217,126		96,246		695,197		35,937		1,543,742
Current Period Gross Charge Offs		—		—		54		10		—		1,236		—		1,300

Commercial business
Satisfactory (1-4)		21,179		29,846		28,678		20,301		7,646		44,908		62,015		214,573
Watch (5)		—		—		1,005		3,296		—		—		—		4,301
Special Mention (6)		—		—		995		—		38		—		—		1,033
Classified (7-9)		—		245		—		—		—		139		—		384
Total		21,179		30,091		30,678		23,597		7,684		45,047		62,015		220,291
Current Period Gross Charge Offs		—		—		—		4		27		164		48		243

Consumer
Satisfactory (1-4)		17,391		9,234		6,147		2,618		1,151		10,478		120,653		167,672
Watch (5)		—		—		5		—		4		194		107		310
Special Mention (6)		—		—		—		—		—		—		—		—
Classified (7-9)		1		9		11		20		—		53		1,452		1,546
Total		17,392		9,243		6,163		2,638		1,155		10,725		122,212		169,528
Current Period Gross Charge Offs		13		105		122		32		4		1,161		54		1,491

Combined
Satisfactory (1-4)		354,121		339,904		1,404,573		979,469		378,509		1,042,480		234,745		4,733,801
Watch (5)		—		—		1,010		3,296		149		11,380		107		15,942
Special Mention (6)		—		—		995		—		38		438		—		1,471
Classified (7-9)		1		882		398		226		464		5,701		2,962		10,634
Total	$	354,122	$	340,786	$	1,406,976	$	982,991	$	379,160	$	1,059,999	$	237,814	$	4,761,848
Current Period Gross Charge Offs	$	13	$	154	$	176	$	46	$	31	$	2,678	$	102	$	3,200