Loans Receivable and Allowance for Credit Losses (Tables)

6 Months Ended

Jun. 30, 2025

Loans Receivable and Allowance for Credit Losses [Abstract]



	June 30, 2025		December 31, 2024
		(In Thousands)
Residential one-to-four family	$	230,917	$	239,870
Commercial and multi-family ⁽¹⁾		2,088,117		2,155,929
Cannabis related ⁽²⁾		103,007		103,206
Construction ⁽¹⁾		111,370		130,589
Commercial business ^{(1) (3)}		224,800		242,239
Business express		81,521		92,947
Home equity ⁽⁴⁾		71,587		66,769
Consumer		2,075		2,235
		2,913,394		3,033,784

Less:
Deferred loan fees, net		(2,283)		(2,736)
Allowance for credit losses		(50,658)		(34,789)

Total Loans, net	$	2,860,453	$	2,996,259

(1) Excludes Cannabis related loans.

(2) Includes Commercial and multi-family, Construction, and Commercial business loans to borrowers involved in the cannabis industry.

(3) Excludes Business express loans.

(4) Includes Home equity lines of credit.

Allowance for Credit Losses

The following tables set forth the activity in the Company’s allowance for credit losses for the three and six months ended June 30, 2025, and the related portion of the allowance for credit losses that is allocated to each loan class, as of June 30, 2025 (in thousands):


	Residential			Commercial & Multi-family ⁽¹⁾	Cannabis Related ⁽²⁾		Construction ⁽¹⁾		Commercial Business ⁽¹⁾⁽³⁾		Business Express		Home Equity ⁽⁴⁾		Consumer		Total
Allowance for credit losses:
Beginning Balance, April 1, 2025	$	1,790	$	10,076	$	14,836	$	1,544	$	11,763	$	10,882	$	579	$	14	$	51,484

Charge-offs:		-		(85)		-		-		(1,830)		(4,115)		-		-		(6,030)
Recoveries:		9		-		-		-		2		302		-		-		313
Provision (benefit):		38		2,428		16		363		(1,037)		3,024		56		3		4,891
Ending Balance, June 30, 2025		1,837		12,419		14,852		1,907		8,898		10,093		635		17		50,658

Ending Balance attributable to loans:
Individually evaluated		-		2,143		13,714		-		4,071		4,436		-		-		24,364
Collectively evaluated		1,837		10,276		1,138		1,907		4,827		5,657		635		17		26,294
Ending Balance, June 30, 2025		1,837		12,419		14,852		1,907		8,898		10,093		635		17		50,658

Loans Receivables:
Individually evaluated		1,142		97,044		33,512		2,048		14,559		4,436		687		-		153,428
Collectively evaluated		229,775		1,991,073		69,495		109,322		210,241		77,085		70,900		2,075		2,759,966
Total Gross Loans:	$	230,917	$	2,088,117	$	103,007	$	111,370	$	224,800	$	81,521	$	71,587	$	2,075	$	2,913,394

(1) Excludes Cannabis related loans.

(2) Includes Commercial and multi-family, Construction, and Commercial business loans to borrowers involved in the cannabis industry.

(3) Excludes Business express loans.

(4) Includes Home equity lines of credit.


	Residential			Commercial & Multi-family ⁽¹⁾	Cannabis Related ⁽²⁾		Construction ⁽¹⁾		Commercial Business ⁽¹⁾⁽³⁾			Business Express		Home Equity⁽⁴⁾	Consumer		Total
Allowance for credit losses:
Beginning Balance, January 1, 2025	$	1,947	$	10,451	$	1,613	$	1,902	$	10,497	$	7,769	$	594	$	16	$	34,789

Charge-offs:		-		(340)		-		-		(1,848)		(8,040)		-		-		(10,228)
Recoveries:		34		-		-		-		4		323		-		-		361
Provision (benefit):		(144)		2,308		13,239		5		245		10,041		41		1		25,736
Ending Balance, June 30, 2025	$	1,837	$	12,419	$	14,852	$	1,907	$	8,898	$	10,093	$	635	$	17	$	50,658

(1) Excludes Cannabis related loans.

(2) Includes Commercial and multi-family, Construction, and Commercial business loans to borrowers involved in the cannabis industry.

(3) Excludes Business express loans.

(4) Includes Home equity lines of credit.

‎

Note 7 - Loans Receivable and Allowance for Credit Losses (Continued)

The following tables set forth the activity in the Company’s allowance for credit losses for the three and six months ended June 30, 2024, and the related portion of the allowance for credit losses that is allocated to each loan class, as of June 30, 2024 (in thousands):


	Residential			Commercial & Multi-family ⁽¹⁾	Cannabis Related ⁽²⁾		Construction ⁽¹⁾		Commercial Business ⁽¹⁾⁽³⁾		Business Express		Home Equity ⁽⁴⁾		Consumer		Total
Allowance for credit losses:
Beginning Balance, April 1, 2024	$	2,163	$	14,012	$	1,905	$	3,142	$	7,181	$	5,030	$	650	$	480	$	34,563

Charge-offs:		-		-		-		-		(538)		(794)		-		(446)		(1,778)
Recoveries:		14		-		-		-		2		4		-		-		20
Provision (benefit):		(138)		(431)		5		(382)		1,206		2,204		(15)		(11)		2,438
Ending Balance, June 30, 2024		2,039		13,581		1,910		2,760		7,851		6,444		635		23		35,243

Ending Balance attributable to loans:
Individually evaluated		-		970		250		-		3,088		2,025		-		-		6,333
Collectively evaluated		2,039		12,611		1,660		2,760		4,763		4,419		635		23		28,910
Ending Balance, June 30, 2024		2,039		13,581		1,910		2,760		7,851		6,444		635		23		35,243

Loans Receivables:
Individually evaluated		173		51,089		250		1,164		5,885		2,025		212		-		60,798
Collectively evaluated		242,533		2,197,496		103,849		167,706		261,059		98,424		66,631		2,053		3,139,751
Total Gross Loans:	$	242,706	$	2,248,585	$	104,099	$	168,870	$	266,944	$	100,449	$	66,843	$	2,053	$	3,200,549

(1) Excludes Cannabis related loans.

(2) Includes Commercial and multi-family, Construction, and Commercial business loans to borrowers involved in the cannabis industry.

(3) Excludes Business express loans.

(4) Includes Home equity lines of credit.


	Residential			Commercial & Multi-family ⁽¹⁾	Cannabis Related ⁽²⁾		Construction ⁽¹⁾		Commercial Business ⁽¹⁾⁽³⁾			Business Express		Home Equity⁽⁴⁾	Consumer		Total
Allowance for credit losses:
Beginning Balance, January 1, 2024	$	2,344	$	15,343	$	2,344	$	3,758	$	4,508	$	4,542	$	691	$	78	$	33,608

Charge-offs:		-		-		-		-		(567)		(1,916)		-		(446)		(2,929)
Recoveries:		25		-		-		-		5		8		-		-		38
Provision (benefit):		(330)		(1,762)		(434)		(998)		3,905		3,810		(56)		391		4,526
Ending Balance, June 30, 2024	$	2,039	$	13,581	$	1,910	$	2,760	$	7,851	$	6,444	$	635	$	23	$	35,243

(1) Excludes Cannabis related loans.

(2) Includes Commercial and multi-family, Construction, and Commercial business loans to borrowers involved in the cannabis industry.

(3) Excludes Business express loans.

(4) Includes Home equity lines of credit.

Note 7 - Loans Receivable and Allowance for Credit Losses (Continued)

The following tables set forth the activity in the Company’s allowance for credit losses for the three and six months ended June 30, 2023, and the related portion of the allowance for credit losses that is allocated to each loan class, as of June 30, 2023 (in thousands):


	Residential			Commercial & Multi-family ⁽¹⁾	Cannabis Related ⁽²⁾		Construction⁽¹⁾		Commercial Business ⁽¹⁾⁽³⁾		Business Express		Home Equity ⁽⁴⁾		Consumer		Total
Allowance for credit losses:
Beginning Balance, April 1, 2023	$	2,361	$	14,635	$	560	$	3,731	$	5,363	$	1,518	$	680	$	34	$	28,882

Charge-offs:		-		-		-		-		-		(39)		-		-		(39)
Recoveries:		12		-		-		-		-		-		-		-		12
Provision (benefit):		80		44		(51)		293		(61)		1,006		42		(3)		1,350
Ending Balance, June 30, 2023		2,453		14,679		509		4,024		5,302		2,485		722		31		30,205

Ending Balance attributable to loans:
Individually evaluated		-		-		-		608		1,898		266		-		-		2,772
Collectively evaluated		2,453		14,679		509		3,416		3,404		2,219		722		31		27,433
Ending Balance, June 30, 2023		2,453		14,679		509		4,024		5,302		2,485		722		31		30,205

Loans Receivables:
Individually evaluated		356		17,108		2,671		4,146		3,490		266		212		-		28,249
Collectively evaluated		249,989		2,397,880		84,222		170,231		262,892		96,081		61,383		3,994		3,326,672
Total Gross Loans:	$	250,345	$	2,414,988	$	86,893	$	174,377	$	266,382	$	96,347	$	61,595	$	3,994	$	3,354,921

(1) Excludes Cannabis related loans.

(2) Includes Commercial and multi-family, Construction, and Commercial business loans to borrowers involved in the cannabis industry.

(3) Excludes Business express loans.

(4) Includes Home equity lines of credit.


	Residential			Commercial & Multi-family ⁽¹⁾	Cannabis Related ⁽²⁾		Construction ⁽¹⁾		Commercial Business ⁽¹⁾⁽³⁾			Business Express		Home Equity⁽⁴⁾	Consumer		Unallocated		Total
Allowance for credit losses:
Ending Balance December 31, 2022		2,474		21,381		402		2,073		4,482		872		485		24		180		32,373
Effect of adopting ASU No. 2016-13 ("CECL")		144		(6,953)		(145)		1,369		1,727		(316)		182		7		(180)		(4,165)
Beginning Balance, January 1, 2023	$	2,618	$	14,428	$	257	$	3,442	$	6,209	$	556	$	667	$	31	$	-	$	28,208

Charge-offs:		-		-		-		-		(1)		(39)		-		-		-		(40)
Recoveries:		24		-		-		-		25		-		16		-		-		65
Provision (benefit):		(189)		251		252		582		(931)		1,968		39		-		-		1,972
Ending Balance, June 30, 2023	$	2,453	$	14,679	$	509	$	4,024	$	5,302	$	2,485	$	722	$	31	$	-	$	30,205

(1) Excludes Cannabis related loans.

(2) Includes Commercial and multi-family, Construction, and Commercial business loans to borrowers involved in the cannabis industry.

(3) Excludes Business express loans.

(4) Includes Home equity lines of credit.

‎

Note 7 - Loans Receivable and Allowance for Credit Losses (Continued)

The following table sets forth the activity in the allowance for credit losses and amount recorded in loans receivable at and for the year ended December 31, 2024. The table also details the amount of total loans receivable that are evaluated individually and collectively, and the related portion of the allowance for credit losses that is allocated to each loan class (in thousands):


	Residential			Commercial & Multi-family⁽¹⁾	Cannabis ‎ Related ⁽²⁾		Construction ⁽¹⁾		Commercial ‎Business^{(1) (3)}		Business Express		Home ‎ Equity ⁽⁴⁾		Consumer		Total
Allowance for credit losses:
Beginning Balance, January 1, 2024	$	2,344	$	15,343	$	2,344	$	3,758	$	4,508	$	4,542	$	691	$	78	$	33,608

Charge-offs:		-		(531)		-		-		(1,799)		(8,038)		-		(467)		(10,835)
Recoveries:		48		-		-		-		371		27		-		-		446
Provision (benefit):		(445)		(4,361)		(731)		(1,856)		7,417		11,238		(97)		405		11,570
Ending Balance, December 31, 2024	$	1,947	$	10,451	$	1,613	$	1,902	$	10,497	$	7,769	$	594	$	16	$	34,789

Ending Balance attributable to loans:
Individually evaluated	$	-	$	1,473	$	-	$	-	$	4,725	$	5,619	$	-	$	-	$	11,817
Collectively evaluated		1,947		8,978		1,613		1,902		5,772		2,150		594		16		22,972
Ending Balance, December 31, 2024	$	1,947	$	10,451	$	1,613	$	1,902	$	10,497	$	7,769	$	594	$	16	$	34,789

Loans Receivables:
Individually evaluated	$	853	$	64,735	$	-	$	586	$	11,163	$	5,619	$	443	$	-	$	83,399
Collectively evaluated		239,017		2,091,194		103,206		130,003		231,076		87,328		66,326		2,235		2,950,385
Total Gross Loans:	$	239,870	$	2,155,929	$	103,206	$	130,589	$	242,239	$	92,947	$	66,769	$	2,235	$	3,033,784

(1) Excludes Cannabis related loans.

(2) Includes Commercial and multi-family, Construction, and Commercial business loans to borrowers involved in the cannabis industry.

(3) Excludes Business express loans.

(4) Includes Home equity lines of credit.

Allowance for Credit Losses on Off-Balance Sheet Exposures


	Three Months Ended June 30,
		2025		2024		2023
Allowance for Credit Losses:
Beginning Balance	$	703	$	759	$	689
Benefit for credit losses		(16)		(156)		(435)
Balance at June 30	$	687	$	603	$	254


	Six Months Ended June 30,
		2025		2024		2023
Allowance for Credit Losses:
Beginning Balance	$	813	$	694	$	-
Impact of adopting ASU No. 2016-13 ("CECL") effective January 1, 2023		-		-		1,266
Benefit for credit losses		(126)		(91)		(1,012)
Balance at June 30	$	687	$	603	$	254

Delinquency Status of Total Loans

The following table sets forth the delinquency status of total loans receivable as of June 30, 2025:


													Loans Receivable
					Greater Than								>90 Days
	30-59 Days		60-90 Days		90 Days		Total Past				Total Loans		Past Due
	Past Due		Past Due		Past Due		Due		Current		Receivable		and Accruing
		(In Thousands)

Residential one-to-four family	$	3,782	$	2,411	$	302	$	6,495	$	224,422	$	230,917	$	-
Commercial and multi-family ⁽¹⁾		32,334		3,562		31,264		67,160		2,020,957		2,088,117		-
Cannabis related⁽²⁾		-		-		-		-		103,007		103,007
Construction ⁽¹⁾		7,304		1,462		2,415		11,181		100,189		111,370		1,829
Commercial business ^{(1) (3)}		7,216		6,788		5,306		19,310		205,490		224,800		124
Business express		1,699		3,243		566		5,508		76,013		81,521		318
Home equity ⁽⁴⁾		874		-		443		1,317		70,270		71,587		-
Consumer		-		-		-		-		2,075		2,075		-
Total	$	53,209	$	17,466	$	40,296	$	110,971	$	2,802,423	$	2,913,394	$	2,271

(1) Excludes Cannabis related loans.

(2) Includes Commercial and multi-family, Construction, and Commercial business loans to borrowers involved in the cannabis industry.

(3) Excludes Business express loans.

(4) Includes Home equity lines of credit.

The following table sets forth the delinquency status of total loans receivable at December 31, 2024:


													Loans Receivable
					Greater Than								>90 Days
	30-59 Days		60-90 Days		90 Days		Total Past				Total Loans		Past Due
	Past Due		Past Due		Past Due		Due		Current		Receivable		and Accruing
		(In Thousands)

Residential one-to-four family	$	3,229	$	-	$	302	$	3,531	$	236,339	$	239,870	$	-
Commercial and multi-family ⁽¹⁾		8,279		2,673		30,903		41,855		2,114,074		2,155,929		6,049
Cannabis related ⁽²⁾		-		-		-		-		103,206		103,206
Construction ⁽¹⁾		-		1,829		586		2,415		128,174		130,589		-
Commercial business ^{(1) (3)}		9,125		580		3,795		13,500		228,739		242,239		-
Business express		6,714		3,452		3,141		13,307		79,640		92,947		1,677
Home equity ⁽⁴⁾		1,846		18		231		2,095		64,674		66,769		-
Consumer		-		-		-		-		2,235		2,235		-
Total	$	29,193	$	8,552	$	38,958	$	76,703	$	2,957,081	$	3,033,784	$	7,726

(1) Excludes Cannabis related loans.

(2) Includes Commercial and multi-family, Construction, and Commercial business loans to borrowers involved in the cannabis industry.

(3) Excludes Business express loans.

(4) Includes Home equity lines of credit.

‎

Amortized Cost Basis Of Loans Modified


	For the three Months Ended June 30, 2025
	(In Thousands)
	Number		Payment Delay		Term Extension		Rate Reduction & Term Extension		Total Principal	% of Total Class of Financing Receivable
Commercial & multi-family	1	$	-	$	25,756	$	-	$	25,756	1.23	%
Commercial business	2		-		-		357		357	0.16
Business express	23		-		5,083		-		5,083	6.24	%
Total loans	26	$	-	$	30,839	$	357	$	31,196


	For the three Months Ended June 30, 2024
	(In Thousands)
	Number		Payment Delay		Term Extension		Total Principal	% of Total Class of Financing Receivable
Business express	80	$	-	$	17,536	$	17,536	17.46	%
Total loans	80	$	-	$	17,536	$	17,536


	For the Six Months Ended June 30, 2025
	(In Thousands)
	Number		Payment Delay		Term Extension		Rate Reduction & Term Extension		Total Principal	% of Total Class of Financing Receivable
Commercial & multi-family	1	$	-	$	25,756	$	-	$	25,756	1.23	%
Commercial business	5		-		995		357		1,352	0.60
Business express	86		-		20,106		-		20,106	24.66	%
Total loans	92	$	-	$	46,857	$	357	$	47,214


	For the Six Months Ended June 30, 2024
	(In Thousands)
	Number		Payment Delay		Term Extension		Total Principal	% of Total Class of Financing Receivable
Residential one-to-four family	1	$	177	$		$	177	0.07	%
Business express	80		-		17,536		17,536	17.46
Total loans	81	$	177	$	17,536	$	17,713	0.55	%

Loans Modifications


	For the Six Months Ended June 30, 2025
	(In Thousands)
		Current		30-59 Days Past Due		60-90 Days Past Due		Non-accrual		Total
Commercial & multi-family	$	25,756	$	-	$	-	$	-	$	25,756
Commercial business		995		-		-		357		1,352
Business express		18,504		249		463		890		20,106
Total	$	45,255	$	249	$	463	$	1,247	$	47,214


	For the Six Months Ended June 30, 2024
	(In Thousands)
		Current		30-59 Days Past Due		60-90 Days Past Due		Non-accrual		Total
Residential one-to-four family	$	-	$	-	$	-	$	177	$	177
Business express		17,333		-		-		203		17,536
Total	$	17,333	$	-	$	-	$	380	$	17,713

Non-Accruing Loans


	As of June 30, 2025
	(in Thousands)
		Non-accrual loans with an Allowance for Credit Losses		Non-accrual loans without an Allowance for Credit Losses		Total Non-accrual loans		Amortized Cost of Loans Past due 90 and Still Accruing
Residential one-to-four family	$	-	$	1,436	$	1,436	$	-
Commercial and multi-family ⁽¹⁾		3,853		54,116		57,969		-
Cannabis related ⁽²⁾		33,512		-		33,512		-
Construction ⁽¹⁾		-		586		586		1,829
Commercial business ^{(1) (3)}		3,450		2,942		6,392		124
Business express loans		1,133		244		1,377		318
Home equity ⁽⁴⁾		-		492		492		-
Consumer		-		-		-		-
Total	$	41,948	$	59,816	$	101,764	$	2,271

(1) Excludes Cannabis related loans.

(2) Includes Commercial and multi-family, Construction, and Commercial business loans to borrowers involved in the cannabis industry.

(3) Excludes Business express loans.

(4) Includes Home equity lines of credit.


	As of December 31, 2024
	(in Thousands)
		Non-accrual loans with an Allowance for Credit Losses		Non-accrual loans without an Allowance for Credit Losses		Total Non-accrual loans		Amortized Cost of Loans Past due 90 and Still Accruing
Residential one-to-four family	$	534	$	853	$	1,387	$	-
Commercial and multi-family ⁽¹⁾		4,823		28,151		32,974		6,049
Cannabis related ⁽²⁾		-		-		-		-
Construction ⁽¹⁾		-		586		586		-
Commercial business ^{(1) (3)}		5,208		2,425		7,633		-
Business express loans		1,706		191		1,897		1,677
Home equity ⁽⁴⁾		-		231		231		-
Total	$	12,271	$	32,437	$	44,708	$	7,726

(1) Excludes Cannabis related loans.

(2) Includes Commercial and multi-family, Construction, and Commercial business loans to borrowers involved in the cannabis industry.

(3) Excludes Business express loans.

(4) Includes Home equity lines of credit.

Loan Portfolio by Pass Rating


Loans by Year of Origination at June 30, 2025
		2025		2024		2023		2022		2021		Prior		Revolving Loans		Revolving Loans to Term Loans		Total
Residential one-to-four family
Pass	$	3,853	$	11,984	$	16,182	$	46,748	$	35,652	$	114,533	$	-	$	-	$	228,952
Special Mention		-		-		-		-		-		822		-		-		822
Substandard		-		-		-		-		170		973		-		-		1,143
Total one-to-four family	$	3,853	$	11,984	$	16,182	$	46,748	$	35,822	$	116,328	$	-	$	-	$	230,917

Commercial and multi-family ⁽¹⁾
Pass	$	20,605	$	8,346	$	163,782	$	504,403	$	134,596	$	787,089	$	9,810	$	-	$	1,628,631
Special Mention		-		-		16,856		158,874		39,903		61,757		-		-		277,390
Substandard		-		-		675		58,920		23,098		99,263		140		-		182,096
Total Commercial and multi-family	$	20,605	$	8,346	$	181,313	$	722,197	$	197,597	$	948,109	$	9,950	$	-	$	2,088,117

Cannabis related ⁽²⁾
Pass	$	-	$	-	$	19,184	$	26,268	$	2,101	$	8,085	$	8,050	$	-	$	63,688
Special Mention		-		-		-		-		4,845		-		962		-		5,807
Substandard		-		-		9,482		24,030		-		-		-		-		33,512
Total Cannabis related	$	-	$	-	$	28,666	$	50,298	$	6,946	$	8,085	$	9,012	$	-	$	103,007

Construction ⁽¹⁾
Pass	$	917	$	2,127	$	34,876	$	37,483	$	-	$	-	$	5,024	$	-	$	80,427
Special Mention		-		-		1,924		2,330		9,384		-		-		-		13,638
Substandard		-		-		-		1,723		14,996		586		-		-		17,305
Total Construction	$	917	$	2,127	$	36,800	$	41,536	$	24,380	$	586	$	5,024	$	-	$	111,370

Commercial business^{(1) (3)}
Pass	$	-	$	7,601	$	2,013	$	5,105	$	700	$	28,172	$	123,461	$	-	$	167,052
Special Mention		-		-		-		-		1,458		3,529		25,092		-		30,079
Substandard		-		-		-		-		357		6,305		21,007		-		27,669
Total Commercial business	$	-	$	7,601	$	2,013	$	5,105	$	2,515	$	38,006	$	169,560	$	-	$	224,800

Business express
Pass	$	-	$	-	$	-	$	-	$	-	$	-	$	2,104	$	72,787	$	74,891
Special Mention		-		-		-		-		-		-		-		2,193		2,193
Substandard		-		-		-		-		-		-		888		3,549		4,437
Total Business express	$	-	$	-	$	-	$	-	$	-	$	-	$	2,992	$	78,529	$	81,521

Home equity ⁽⁴⁾
Pass	$	1,365	$	254	$	3,441	$	1,355	$	429	$	5,669	$	54,612	$	3,775	$	70,900
Special Mention		-		-		-		-		-		-		-		-		-
Substandard		-		-		-		-		-		97		160		430		687
Total Home equity	$	1,365	$	254	$	3,441	$	1,355	$	429	$	5,766	$	54,772	$	4,205	$	71,587

Consumer
Pass	$	219	$	325	$	1,080	$	351	$	4	$	88	$	8	$	-	$	2,075
Special Mention		-		-		-		-		-		-		-		-		-
Substandard		-		-		-		-		-		-		-		-		-
Total Consumer	$	219	$	325	$	1,080	$	351	$	4	$	88	$	8	$	-	$	2,075

Total Loans	$	26,959	$	30,637	$	269,495	$	867,590	$	267,693	$	1,116,968	$	251,318	$	82,734	$	2,913,394

Gross charge-offs	$	-	$	-	$	-	$	78	$	263	$	736	$	5,636	$	3,515	$	10,228

(1) Excludes Cannabis related loans.

(2) Includes Commercial and multi-family, Construction, and Commercial business loans to borrowers involved in the cannabis industry.

(3) Excludes Business express loans.

(4) Includes Home equity lines of credit.

‎

Note 7 - Loans Receivable and Allowance for Credit Losses (Continued)

The following table summarizes the Company's loans by year of origination and internally assigned credit risk rating and gross charge-offs for the year ended December 31, 2024.


Loans by Year of Origination at December 31, 2024
		2024		2023		2022		2021		2020		Prior		Revolving Loans		Revolving Loans to Term Loans		Total
Residential one-to-four family
Pass	$	12,059	$	16,586	$	47,544	$	37,639	$	28,550	$	92,376	$	-	$	-	$	234,754
Special Mention		-		-		3,555		-		-		174		-		-		3,729
Substandard		-		-		301		173		-		913		-		-		1,387
Total one-to-four family	$	12,059	$	16,586	$	51,400	$	37,812	$	28,550	$	93,463	$	-	$	-	$	239,870

Commercial and multi-family ⁽¹⁾
Pass	$	9,105	$	183,547	$	604,868	$	154,968	$	158,029	$	709,239	$	2,610	$	-	$	1,822,366
Special Mention		-		-		108,076		37,600		9,232		47,756		140		-		202,804
Substandard		-		10,115		33,958		13,027		11,782		61,877		-		-		130,759
Total Commercial and multi-family	$	9,105	$	193,662	$	746,902	$	205,595	$	179,043	$	818,872	$	2,750	$	-	$	2,155,929

Cannabis related ⁽²⁾
Pass	$	-	$	19,384	$	26,626	$	2,129	$	8,213	$	-	$	6,863	$	-	$	63,215
Special Mention		-		9,761		24,636		4,844		-		-		750		-		39,991
Substandard		-		-		-		-		-		-		-		-		-
Total Cannabis related	$	-	$	29,145	$	51,262	$	6,973	$	8,213	$	-	$	7,613	$	-	$	103,206

Construction ⁽¹⁾
Pass	$	4	$	34,906	$	37,624	$	-	$	-	$	-	$	5,824	$	-	$	78,358
Special Mention		-		1,521		3,792		42,330		3,745		-		-		-		51,388
Substandard		-		257		-		-		586		-		-		-		843
Total Construction	$	4	$	36,684	$	41,416	$	42,330	$	4,331	$	-	$	5,824	$	-	$	130,589

Commercial business ^{(1) (3)}
Pass	$	-	$	2,477	$	266	$	475	$	3,711	$	28,902	$	156,581	$	663	$	193,075
Special Mention		-		8,874		-		1,878		194		4,835		19,548		409		35,738
Substandard		-		-		-		-		-		5,884		7,542		-		13,426
Total Commercial business	$	-	$	11,351	$	266	$	2,353	$	3,905	$	39,621	$	183,671	$	1,072	$	242,239

Business express
Pass	$	-	$	-	$	-	$	-	$	-	$	-	$	23,739	$	59,189	$	82,928
Special Mention		-		-		-		-		-		-		1,506		2,894		4,400
Substandard		-		-		-		-		-		-		3,082		2,537		5,619
Total Business express	$	-	$	-	$	-	$	-	$	-	$	-	$	28,327	$	64,620	$	92,947

Home equity ⁽⁴⁾
Pass	$	300	$	3,767	$	1,369	$	501	$	549	$	5,754	$	51,829	$	2,186	$	66,255
Special Mention		-		-		-		-		-		18		-		-		18
Substandard		-		-		53		-		81		-		-		362		496
Total Home equity	$	300	$	3,767	$	1,422	$	501	$	630	$	5,772	$	51,829	$	2,548	$	66,769

Consumer
Pass	$	623	$	1,117	$	389	$	5	$	95	$	-	$	6	$	-	$	2,235
Special Mention		-		-		-		-		-		-		-		-		-
Substandard		-		-		-		-		-		-		-		-		-
Total Consumer	$	623	$	1,117	$	389	$	5	$	95	$	-	$	6	$	-	$	2,235

Total Loans	$	22,091	$	292,312	$	893,057	$	295,569	$	224,767	$	957,728	$	280,020	$	68,240	$	3,033,784

Gross charge-offs	$	446	$	20	$	-	$	174	$	-	$	1,133	$	8,381	$	681	$	10,835

(1) Excludes Cannabis related loans.

(2) Includes Commercial and multi-family, Construction, and Commercial business loans to borrowers involved in the cannabis industry.

(3) Excludes Business express loans.

(4) Includes Home equity lines of credit.