v3.26.1
Loans Receivable and Allowance for Credit Losses (Tables)
 3 Months Ended
Mar. 31, 2026
Receivables [Abstract]  
Schedule of Accounts, Notes, Loans and Financing Receivable
Loans receivable at March 31, 2026 and December 31, 2025 are summarized as follows:
March 31,December 31,
20262025
(In thousands)
Real estate loans:
One-to-four family$2,543,588 $2,558,252 
Multifamily1,669,232 1,677,613 
Commercial real estate2,472,993 2,513,260 
Construction520,753 469,438 
Commercial business loans752,246 766,792 
Consumer loans:
Home equity loans and advances249,487 255,126 
Other consumer loans2,850 2,895 
Total gross loans8,211,149 8,243,376 
 Purchased credit deteriorated ("PCD") loans10,158 10,442 
Net deferred loan costs, fees and purchased premiums and discounts38,371 38,192 
Loans receivable$8,259,678 $8,292,010 
Financing Receivable, Past Due
The following tables summarize the aging of loans receivable by portfolio segment, including non-accrual loans and excluding PCD loans at March 31, 2026 and December 31, 2025:
March 31, 2026
30-59 Days60-89 Days90 Days or MoreTotal Past DueNon-accrual CurrentTotal
(In thousands)
Real estate loans:
One-to-four family$12,473 $9,438 $4,007 $25,918 $9,330 $2,517,670 $2,543,588 
Multifamily 1,122 845 10,791 12,758 — 1,656,474 1,669,232 
Commercial real estate5,074 — 4,524 9,598 16,962 2,463,395 2,472,993 
Construction— — — — — 520,753 520,753 
Commercial business loans20,594 1,650 7,617 29,861 14,250 722,385 752,246 
Consumer loans:
Home equity loans and advances1,444 183 632 2,259 833 247,228 249,487 
Other consumer loans1 — — 1 — 2,849 2,850 
Total loans$40,708 $12,116 $27,571 $80,395 $41,375 $8,130,754 $8,211,149 

December 31, 2025
30-59 Days60-89 Days90 Days or MoreTotal Past DueNon-accrualCurrentTotal
(In thousands)
Real estate loans:
One-to-four family$13,886 $5,652 $4,545 $24,083 $9,787 $2,534,169 $2,558,252 
Multifamily 2,083 10,595 300 12,978 — 1,664,635 1,677,613 
Commercial real estate8,072 320 4,827 13,219 5,766 2,500,041 2,513,260 
Construction— — 5,923 5,923 5,923 463,515 469,438 
Commercial business loans11,990 1,408 11,005 24,403 15,281 742,389 766,792 
Consumer loans:
Home equity loans and advances566 175 1,018 1,759 1,243 253,367 255,126 
Other consumer loans1 3 — 4 — 2,891 2,895 
Total loans$36,598 $18,153 $27,618 $82,369 $38,000 $8,161,007 $8,243,376 
Financing Receivable, Allowance for Credit Loss
The following tables summarize loans receivable (including PCD loans) and allowance for credit losses by portfolio segment and impairment method at March 31, 2026 and December 31, 2025:
March 31, 2026
One-to-Four FamilyMultifamily Commercial Real EstateConstructionCommercial Business Home Equity Loans and AdvancesOther Consumer LoansTotal
(In thousands)
Allowance for credit losses:
Individually analyzed loans$— $— $— $— $— $— $— $— 
Collectively analyzed loans13,226 10,128 18,900 7,968 17,212 1,276 6 68,716 
Loans acquired with deteriorated credit quality3 — 30 — 12 — — 45 
Total $13,229 $10,128 $18,930 $7,968 $17,224 $1,276 $6 $68,761 
Total loans:
Individually analyzed loans$10,999 $10,791 $6,504 $— $8,465 $1,006 $— $37,765 
Collectively analyzed loans2,532,589 1,658,441 2,466,489 520,753 743,781 248,481 2,850 8,173,384 
Loans acquired with deteriorated credit quality1,250 — 7,811 — 1,097 — — 10,158 
Total loans$2,544,838 $1,669,232 $2,480,804 $520,753 $753,343 $249,487 $2,850 $8,221,307 
9.    Loans Receivable and Allowance for Credit Losses (continued)

December 31, 2025
One-to-Four FamilyMultifamily Commercial Real EstateConstructionCommercial Business Home Equity Loans and AdvancesOther Consumer LoansTotal
(In thousands)
Allowance for credit losses:
Individually analyzed loans$— $— $— $— $— $— $— $— 
Collectively analyzed loans13,280 10,647 18,563 6,617 16,753 1,289 6 67,155 
Loans acquired with deteriorated credit quality3 — 29 — 14 — — 46 
Total $13,283 $10,647 $18,592 $6,617 $16,767 $1,289 $6 $67,201 
Total loans:
Individually analyzed loans$10,988 $300 $5,492 $5,923 $13,658 $1,262 $— $37,623 
Collectively analyzed loans2,547,264 1,677,313 2,507,768 463,515 753,134 253,864 2,895 8,205,753 
Loans acquired with deteriorated credit quality1,267 — 7,891 — 1,284 — — 10,442 
Total loans$2,559,519 $1,677,613 $2,521,151 $469,438 $768,076 $255,126 $2,895 $8,253,818 
The activity in the allowance for credit losses by portfolio segment for the three months ended March 31, 2026 and 2025 are as follows:
 For the Three Months Ended March 31,
One-to-Four FamilyMultifamily Commercial Real EstateConstructionCommercial Business Home Equity Loans and AdvancesOther Consumer LoansTotals
(In thousands)
2026
Balance at beginning of period$13,283 $10,647 $18,592 $6,617 $16,767 $1,289 $6 $67,201 
Provision for (reversal of) credit losses(55)(519)338 1,351 (211)(18)70 956 
Recoveries1 — — — 668 5 9 683 
Charge-offs— — — — — — (79)(79)
Balance at end of period$13,229 $10,128 $18,930 $7,968 $17,224 $1,276 $6 $68,761 
2025
Balance at beginning of period$13,173 $9,542 $15,969 $6,703 $13,112 $1,452 $7 $59,958 
Provision for (reversal of) credit losses(304)421 1,519 (388)1,873 (221)33 2,933 
Recoveries1 — 1 1 97 33 1 134 
Charge-offs— — (77)(53)(825)— (36)(991)
Balance at end of period$12,870 $9,963 $17,412 $6,263 $14,257 $1,264 $5 $62,034 
9.    Loans Receivable and Allowance for Credit Losses (continued)

The following tables present individually analyzed loans by segment, excluding PCD loans, at March 31, 2026 and December 31, 2025:

At March 31, 2026
Recorded InvestmentUnpaid Principal BalanceSpecific Allowance
(In thousands)
With no allowance recorded:
Real estate loans:
One-to-four family$10,999 $11,004 $— 
Multifamily 10,791 10,791 — 
Commercial real estate6,504 6,629 — 
Commercial business loans8,465 10,348 — 
Consumer loans:
Home equity loans and advances1,006 1,006 — 
37,765 39,778 — 
With a specific allowance recorded:
— — — 
Total:
Real estate loans:
One-to-four family10,999 11,004 — 
Multifamily 10,791 10,791 — 
Commercial real estate6,504 6,629 — 
Commercial business loans8,465 10,348 — 
Consumer loans:
Home equity loans and advances1,006 1,006 — 
Total loans$37,765 $39,778 $— 
9.    Loans Receivable and Allowance for Credit Losses (continued)
At December 31, 2025
Recorded InvestmentUnpaid Principal BalanceSpecific Allowance
(In thousands)
With no allowance recorded:
Real estate loans:
One-to-four family$10,988 $10,992 $— 
Multifamily 300 300 — 
Commercial real estate5,492 5,618 — 
Construction5,923 5,975 — 
Commercial business loans13,658 21,112 — 
Consumer loans:
Home equity loans and advances1,262 1,262 — 
37,623 45,259 — 
With a specific allowance recorded:
— — — 
Total:
Real estate loans:
One-to-four family10,988 10,992 — 
Multifamily 300 300 — 
Commercial real estate5,492 5,618 — 
Construction5,923 5,975 — 
Commercial business loans13,658 21,112 — 
Consumer loans:
Home equity loans and advances1,262 1,262 — 
$37,623 $45,259 $— 
The following table presents interest income recognized for individually analyzed loans by loan segment, excluding PCD loans, for the three months ended March 31, 2026 and 2025:

 For the Three Months Ended March 31,
20262025
Average Recorded InvestmentInterest Income RecognizedAverage Recorded InvestmentInterest Income Recognized
(In thousands)
Real estate loans:
One-to-four family$10,994 $23 $9,376 $— 
Multifamily 5,546 — 3,898 — 
Commercial real estate5,998 6 5,717 38 
Construction2,962 — 2,952 — 
Commercial business loans11,062 28 10,291 — 
Consumer loans:
Home equity loans and advances1,134 6 464 — 
Total loans$37,696 $63 $32,698 $38 
The following table presents the activity in the allowance for credit losses on off-balance-sheet exposures for the three months ended March 31, 2026 and 2025:

 For the Three Months Ended March 31,
20262025
(In thousands)
Allowance for Credit Losses:
Beginning balance
$3,946 $3,821 
Provision for credit losses266 468 
Balance at end of period
$4,212 $4,289 
Financing Receivable, Modified
The following tables presents the modifications of loans to borrowers experiencing financial difficulty that were modified
during the three months ended March 31, 2026 and 2025:

For the Three Months Ended March 31, 2026
Amortized CostTerm ExtensionCombination of Term Extension and Interest Rate Reduction% of Total Class of Loans Receivable
(In thousands)
Commercial business$1,094 $494 $600 0.15 %
Total loans$1,094 $494 $600 0.01 %

For the Three Months Ended March 31, 2025
Amortized CostInterest Rate ReductionTerm ExtensionCombination of Term Extension and Interest Rate Reduction% of Total Class of Loans Receivable
(In thousands)
Commercial business$5,445 $673 $2,000 $2,772 0.89 %
Total loans$5,445 $673 $2,000 $2,772 0.07 %

The following tables describe the types of modifications of loans to borrowers experiencing financial difficulty during the
three months ended March 31, 2026 and 2025:

                                                                        For the Three Months Ended March 31, 2026
Type of Modifications
Commercial business
Interest rate reduction and/or term extensions ranging from 19 to 61 months

                                                                        For the Three Months Ended March 31, 2025
Type of Modifications
Commercial business
Interest rate reduction and/or term extensions ranging from 12 to 60 months
The following tables present the aging analysis of modifications of loans to borrowers experiencing financial difficulty at March 31, 2026 and December 31, 2025:
 March 31, 2026
Current30-59 Days60-89 Days90 Days or MoreNon-accrual Total
(In thousands)
Commercial real estate$12,480 $— $— $— $— $12,480 
Commercial business 10,247 — — — 1,539 11,786 
Total loans$22,727 $— $— $— $1,539 $24,266 
December 31, 2025
Current30-59 Days60-89 Days90 Days or MoreNon-accrual Total
(In thousands)
Commercial real estate$12,328 $— $— $— $— $12,328 
Commercial business 10,488 — — — 1,308 11,796 
Total loans$22,816 $— $— $— $1,308 $24,124 
Financing Receivable Credit Quality Indicators
The following table summarizes the Company's loans by year of origination and internally assigned credit risk rating, excluding PCD loans, at March 31, 2026 and December 31, 2025:
Loans by Year of Origination at March 31, 2026
20262025202420232022PriorRevolving LoansRevolving Loans to Term LoansTotal
(In thousands)
One-to-Four Family
Pass$31,265 $94,578 $103,691 $145,445 $695,351 $1,462,270 $— $— $2,532,600 
Special mention— — — — — — — — — 
Substandard— — 1,198 1,837 3,004 4,949 — — 10,988 
Total One-to-Four Family31,265 94,578 104,889 147,282 698,355 1,467,219 — — 2,543,588 
Gross charge-offs— — — — — — — — — 
Multifamily
Pass67,513 232,641 35,503 136,864 344,306 831,754 — — 1,648,581 
Special mention— — — — — — — — — 
Substandard— — — — 10,595 10,056 — — 20,651 
Total Multifamily67,513 232,641 35,503 136,864 354,901 841,810 — — 1,669,232 
Gross charge-offs— — — — — — — — — 
Commercial Real Estate
Pass27,505 403,180 105,300 172,842 458,839 1,216,466 — — 2,384,132 
Special mention— — — — 3,787 9,155 — — 12,942 
Substandard300 3,677 — 348 13,150 58,444 — — 75,919 
Total Commercial Real Estate27,805 406,857 105,300 173,190 475,776 1,284,065 — — 2,472,993 
Gross charge-offs— — — — — — — — — 
Construction
Pass23,330 145,332 136,582 127,296 53,497 — — — 486,037 
Special mention— — — 5,639 8,983 — — — 14,622 
Substandard— — — 20,094 — — — — 20,094 
Total Construction23,330 145,332 136,582 153,029 62,480 — — — 520,753 
Gross charge-offs$— $— $— $— $— $— $— $— $— 
9.    Loans Receivable and Allowance for Credit Losses (continued)

Loans by Year of Origination at March 31, 2026
20262025202420232022PriorRevolving LoansRevolving Loans to Term LoansTotal
(In thousands)
Commercial Business Loans
Pass$26,250 $98,775 $140,645 $80,826 $51,289 $60,334 $261,166 $— $719,285 
Special mention— — — — — 363 175 — 538 
Substandard1,950 1,508 1,858 774 2,002 8,782 15,549 — 32,423 
Total Commercial Business Loans28,200 100,283 142,503 81,600 53,291 69,479 276,890 — 752,246 
Gross charge-offs— — — — — — — — — 
Home Equity Loans and Advances
Pass3,896 18,973 12,142 11,058 14,860 80,547 1,687 105,260 248,423 
Special mention— — — — — — — — — 
Substandard— — — 98 244 359 363 — 1,064 
Total Home Equity Loans and Advances3,896 18,973 12,142 11,156 15,104 80,906 2,050 105,260 249,487 
Gross charge-offs— — — — — — — — — 
Other Consumer Loans
Pass2,271 87 32 44 13 50 353 — 2,850 
Special mention— — — — — — — — — 
Substandard— — — — — — — — — 
Total Other Consumer Loans2,271 87 32 44 13 50 353 — 2,850 
Gross charge-offs— 17 5 21 14 22 — — 79 
Total Loans184,280 998,751 536,951 703,165 1,659,920 3,743,529 279,293 105,260 8,211,149 
Total gross charge-offs$— $17 $5 $21 $14 $22 $— $— $79 
9.    Loans Receivable and Allowance for Credit Losses (continued)

Loans by Year of Origination at December 31, 2025
20252024202320222021PriorRevolving LoansRevolving Loans to Term LoansTotal
(In thousands)
One-to-Four Family
Pass$93,590 $104,411 $148,597 $705,476 $687,522 $807,680 $— $— $2,547,276 
Special mention— — — — — — — — — 
Substandard— 1,099 1,841 3,024 805 4,207 — — 10,976 
Total One-to-Four family93,590 105,510 150,438 708,500 688,327 811,887 — — 2,558,252 
Gross charge-offs— — — — — — — — — 
Multifamily
Pass233,695 32,267 135,839 345,763 316,250 562,566 — — 1,626,380 
Special mention— — — — 40,638 — — — 40,638 
Substandard— — — 10,595 — — — — 10,595 
Total Multifamily233,695 32,267 135,839 356,358 356,888 562,566 — — 1,677,613 
Gross charge-offs— — — — — — — — — 
Commercial Real Estate
Pass410,896 113,417 173,838 459,278 357,327 923,667 — — 2,438,423 
Special mention— — — 7,007 — 9,222 — — 16,229 
Substandard3,692 — 350 12,258 1,486 40,822 — — 58,608 
Total Commercial Real Estate414,588 113,417 174,188 478,543 358,813 973,711 — — 2,513,260 
Gross charge-offs— — — 77 42 — — — 119 
Construction
Pass128,667 118,823 146,996 67,146 — — — — 461,632 
Special mention— — — — — — — — — 
Substandard— — 1,883 5,923 — — — — 7,806 
Total Construction128,667 118,823 148,879 73,069 — — — — 469,438 
Gross charge-offs$— $— $— $53 $— $— $— $— $53 
9.    Loans Receivable and Allowance for Credit Losses (continued)

Loans by Year of Origination at December 31, 2025
20252024202320222021PriorRevolving LoansRevolving Loans to Term LoansTotal
(In thousands)
Commercial Business Loans
Pass$111,377 $142,106 $86,839 $58,117 $24,846 $41,814 $266,563 $— $731,662 
Special mention— — — — — 44 100 — 144 
Substandard1,512 1,662 1,263 2,106 582 7,130 20,731 — 34,986 
Total Commercial Business Loans112,889 143,768 88,102 60,223 25,428 48,988 287,394 — 766,792 
Gross charge-offs295 634 926 2,097 753 2,182 — — 6,887 
Home Equity Loans and Advances
Pass19,850 13,049 11,818 15,368 13,334 71,446 37,417 71,582 253,864 
Special mention— — — — — — — — — 
Substandard— — 49 248 — 597 368 — 1,262 
Total Home Equity Loans and Advances19,850 13,049 11,867 15,616 13,334 72,043 37,785 71,582 255,126 
Gross charge-offs— — — — — — — — — 
Other Consumer Loans
Pass2,381 37 49 24 — 50 354 — 2,895 
Special mention— — — — — — — — — 
Substandard— — — — — — — — — 
Total Other Consumer Loans2,381 37 49 24 — 50 354 — 2,895 
Gross charge-offs1 13 58 40 43 10 — — 165 
Total Loans1,005,660 526,871 709,362 1,692,333 1,442,790 2,469,245 325,533 71,582 8,243,376 
Total gross charge-offs$296 $647 $984 $2,267 $838 $2,192 $— $— $7,224