Schedule of net loans

Loans, net of deferred costs and fees, consist of the following (in thousands):


		At		At
		March 31,		December 31,
		2026		2025
Real estate
Commercial		$	5,433,868	$	5,201,489
Construction			239,456		261,804
Multi-family			393,702		397,010
One-to four-family			85,523		86,449
Total real estate loans			6,152,549		5,946,752
Commercial and industrial			902,822		871,652
Consumer			9,757		10,349
Total loans			7,065,128		6,828,753
Deferred fees, net of origination costs			(18,581)		(18,520)
Loans, net of deferred fees and costs			7,046,547		6,810,233
Allowance for credit losses			(82,071)		(97,081)
Net loans		$	6,964,476	$	6,713,152

Schedule of recorded investment in non-accrual loans, loans past due over 90 days and still accruing by class of loans

The following tables present the recorded investment in non-accrual loans and loans past due 90 days and greater and still accruing, by class of loans (in thousands):


						Loans Past Due
				Non-accrual		90 Days and
		Total		Without an		Greater and
At March 31, 2026		Non-accrual		ACL		Still Accruing
Commercial real estate		$	26,081	$	2,082	$	2,461
Commercial & industrial			—		—		—
Multi-family			42,554		7,815		—
One-to-four family			2,416		2,416		—
Consumer			—		—		—
Total		$	71,051	$	12,313	$	2,461


					Loans Past Due
			Non-accrual		90 Days and
	Total		Without an		Greater and
At December 31, 2025	Non-accrual		ACL		Still Accruing
Commercial real estate	$	32,809	$	3,365	$	—
Commercial & industrial		8,989		6,989		—
Multi-family		42,599		7,861		—
One-to-four family		2,450		2,450		—
Consumer		—		—		37
Total	$	86,847	$	20,665	$	37

Schedule of risk category of loans by class of loans

The following table presents loan balances by credit quality indicator and year of origination at March 31, 2026 and charge-offs for the three months ended March 31, 2026 (in thousands):


																	2021
		2026			2025			2024			2023			2022			& Prior			Revolving			Total
CRE
Pass		$	622,210		$	2,236,658		$	968,306		$	632,327		$	493,861		$	330,629		$	50,426		$	5,334,417
Special Mention			25,467			22,941			21,500			—			—			—			—			69,908
Substandard			—			3,461			—			—			24,000			2,082			—			29,543
Total		$	647,677		$	2,263,060		$	989,806		$	632,327		$	517,861		$	332,711		$	50,426		$	5,433,868

Construction
Pass		$	23,197		$	90,986		$	65,863		$	28,794		$	—		$	—		$	30,616		$	239,456
Total		$	23,197		$	90,986		$	65,863		$	28,794		$	—		$	—		$	30,616		$	239,456

Multi-family
Pass		$	73,738		$	101,277		$	26,083		$	30,194		$	34,559		$	65,314		$	2,086		$	333,251
Special Mention			—			14,753			—			—			1,745			1,399			—			17,897
Substandard			—			40,025			2,529			—			—			—			—			42,554
Total		$	73,738		$	156,055		$	28,612		$	30,194		$	36,304		$	66,713		$	2,086		$	393,702

One-to four-family
Current		$	—		$	—		$	—		$	45,000		$	3,127		$	34,980		$	—		$	83,107
Past Due			—			—			—			—			—			2,416			—			2,416
Total		$	—		$	—		$	—		$	45,000		$	3,127		$	37,396		$	—		$	85,523

C&I
Pass		$	64,200		$	50,619		$	69,821		$	13,183		$	64,858		$	8,185		$	583,145		$	854,011
Special Mention			—			—			200			—			—			—			—			200
Substandard			1,466			12,338			—			3,840			20,968			—			9,999			48,611
Total		$	65,666		$	62,957		$	70,021		$	17,023		$	85,826		$	8,185		$	593,144		$	902,822

Consumer
Current		$	—		$	—		$	—		$	—		$	—		$	9,757		$	—		$	9,757
Total		$	—		$	—		$	—		$	—		$	—		$	9,757		$	—		$	9,757

Total
Pass/Current		$	783,345		$	2,479,540		$	1,130,073		$	749,498		$	596,405		$	448,865		$	666,273		$	6,853,999
Special Mention			25,467			37,694			21,700			—			1,745			1,399			—			88,005
Substandard/Past due			1,466			55,824			2,529			3,840			44,968			4,498			9,999			123,124
Total		$	810,278		$	2,573,058		$	1,154,302		$	753,338		$	643,118		$	454,762		$	676,272		$	7,065,128

Charge-offs
CRE		$	—		$	—		$	—		$	—		$	—		$	7,973		$	—		$	7,973
C&I			—			—			—			—			—			4,329			—			4,329
Consumer			—			—			—			—			—			153			—			153
Total		$	—		$	—		$	—		$	—		$	—		$	12,455		$	—		$	12,455

The following table presents loan balances by credit quality indicator and year of origination at December 31, 2025 and charge-offs for the year ended December 31, 2025 (in thousands):


																	2020
		2025			2024			2023			2022			2021			& Prior			Revolving			Total
CRE
Pass		$	2,514,770		$	1,030,181		$	675,773		$	524,079		$	192,304		$	135,336		$	50,491		$	5,122,934
Special Mention			19,525			21,500			—			—			1,246			—			—			42,271
Substandard			3,475			—			—			24,000			8,809			—			—			36,284
Total		$	2,537,770		$	1,051,681		$	675,773		$	548,079		$	202,359		$	135,336		$	50,491		$	5,201,489

Construction
Pass		$	129,806		$	49,898		$	51,484		$	—		$	—		$	—		$	30,616		$	261,804
Total		$	129,806		$	49,898		$	51,484		$	—		$	—		$	—		$	30,616		$	261,804

Multi-family
Pass		$	169,606		$	32,869		$	30,296		$	36,451		$	60,650		$	8,930		$	2,671		$	341,473
Special Mention			12,938			—			—			—			—			—			—			12,938
Substandard			40,070			2,529			—			—			—			—			—			42,599
Total		$	222,614		$	35,398		$	30,296		$	36,451		$	60,650		$	8,930		$	2,671		$	397,010

One-to four-family
Current		$	—		$	—		$	45,000		$	3,192		$	211		$	35,596		$	—		$	83,999
Substandard			—			—			—			—			—			2,450			—			2,450
Total		$	—		$	—		$	45,000		$	3,192		$	211		$	38,046		$	—		$	86,449

C&I
Pass		$	130,514		$	138,733		$	46,470		$	80,377		$	16,377		$	2,372		$	399,005		$	813,848
Substandard			14,008			—			7,643			20,968			—			—			15,185			57,804
Total		$	144,522		$	138,733		$	54,113		$	101,345		$	16,377		$	2,372		$	414,190		$	871,652

Consumer
Current		$	—		$	—		$	—		$	—		$	—		$	10,231		$	—		$	10,231
Past due			—			—			—			—			—			118			—			118
Total		$	—		$	—		$	—		$	—		$	—		$	10,349		$	—		$	10,349

Total
Pass/Current		$	2,944,696		$	1,251,680		$	849,023		$	644,099		$	269,543		$	192,465		$	482,783		$	6,634,289
Special Mention			32,463			21,500			—			—			1,246			—			—			55,209
Substandard/Past due			57,553			2,529			7,643			44,968			8,809			2,568			15,185			139,255
Total		$	3,034,712		$	1,275,709		$	856,666		$	689,067		$	279,598		$	195,033		$	497,968		$	6,828,753

Charge-offs
Multi-family		$	—		$	—		$	—		$	—		$	3,827		$	—		$	—		$	3,827
Consumer		$	—		$	—		$	—		$	—		$	—		$	262		$	—		$	262
Total		$	—		$	—		$	—		$	—		$	3,827		$	262		$	—		$	4,089

Schedule of borrowers experiencing financial difficulty

The following tables show the amortized cost basis of modified loans to borrowers experiencing financial difficulty during the periods indicated (in thousands):




					Modifications
					as a % of
	Extension		Total		Loan Class
Three months ended March 31, 2026
None	$	—	$	—	—




					Modifications
					as a % of
	Extension		Total		Loan Class
Three months ended March 31, 2025
Multi-family		51,239		51,239	13.2%
Total	$	51,239	$	51,239	13.2%

The following tables describe the types of modifications made to borrowers experiencing financial difficulty:


	Types of Modifications
		Weighted
		Average
		Interest
	Term	Rate
	Extension	Reduction
Three months ended March 31, 2026
None	—	—

Three months ended March 31, 2025
Multi-family	6-12 months	—

LOANS AND ALLOWANCE FOR CREDIT LOSSES