v3.26.1
Loans Receivable, Allowance for Credit Losses and Credit Quality (Tables)
6 Months Ended
Jun. 30, 2026
Loans Receivable, Allowance for Credit Losses and Credit Quality  
Schedule of Loans

June 30, 2026

  ​ ​ ​

December 31, 2025

Amount

Percent

Amount

Percent

(Dollars in thousands)

One-to-four-family residential

$

1,220,384

18.97

%

$

1,177,156

19.64

%

Home equity

165,906

2.58

%

152,602

2.55

%

Total residential real estate

1,386,290

21.55

%

1,329,758

22.19

%

Commercial real estate

2,121,527

32.98

%

1,924,043

32.09

%

Multi-family residential

567,722

8.82

%

517,527

8.63

%

Total commercial real estate

2,689,249

41.80

%

2,441,570

40.72

%

Construction and land development

765,659

11.90

%

730,573

12.19

%

Commercial and industrial

1,147,727

17.84

%

1,007,669

16.81

%

Total commercial

4,602,635

71.54

%

4,179,812

69.72

%

Consumer, net of premium/discount

226,783

3.53

%

203,497

3.40

%

Mortgage warehouse

217,657

3.38

%

280,949

4.69

%

Total loans

6,433,365

100.00

%

5,994,016

100.00

%

Deferred fees, net

(10,471)

(7,876)

Allowance for credit losses

(82,088)

(87,411)

Net loans

$

6,340,806

$

5,898,729

Schedule of outstanding balances of consumer loan pools, shown net of premium (discount)

June 30, 2026

Gross Loan

Premium (Discount)

  ​ ​ ​

Net Loan

(in thousands)

Student loans

$

4,668

$

34

$

4,702

Automobile loans

88,596

88,596

Solar panel loans

45,049

(3,899)

41,150

Home improvement loans

32,425

1

32,426

Total

$

170,738

$

(3,864)

$

166,874

December 31, 2025

Gross Loan

Premium (Discount)

  ​ ​ ​

Net Loan

(in thousands)

Student loans

$

5,421

$

34

$

5,455

Boat and RV loans

238

238

Automobile loans

75,560

75,560

Solar panel loans

49,077

(4,667)

44,410

Home improvement loans

35,845

(13)

35,832

Total

$

166,141

$

(4,646)

$

161,495

Schedule of aging of the amortized cost of loans receivable by loan category

June 30, 2026

30-59

60-89

90 Days or

Current

 Days

Days

More Past Due

Total

  ​ ​ ​

Loans

  ​ ​ ​

Past Due

  ​ ​ ​

Past Due

  ​ ​ ​

Still Accruing

  ​ ​ ​

Nonaccrual

  ​ ​ ​

 Loans

(in thousands)

Real estate loans:

One-to-four-family residential

$

1,214,305

$

319

$

2,797

$

$

2,963

$

1,220,384

Home equity

 

163,505

 

808

 

46

 

 

1,547

 

165,906

Commercial real estate

 

2,081,987

 

38,583

 

 

 

957

 

2,121,527

Multi-family residential

567,722

567,722

Construction and land development

 

765,659

 

 

 

 

 

765,659

Commercial and industrial

 

1,126,784

 

480

 

17

 

 

20,446

 

1,147,727

Consumer

 

220,516

 

3,305

 

1,214

 

 

1,748

 

226,783

Mortgage warehouse

217,657

217,657

Total

$

6,358,135

$

43,495

$

4,074

$

$

27,661

$

6,433,365

December 31, 2025

30-59

60-89

90 Days or

Current

 Days

Days

More Past Due

Total

Loans

  ​ ​ ​

Past Due

  ​ ​ ​

Past Due

  ​ ​ ​

Still Accruing

  ​ ​ ​

Nonaccrual

  ​ ​ ​

 Loans

(in thousands)

Real estate loans:

  ​ ​ ​

  ​

  ​ ​ ​

  ​

  ​ ​ ​

  ​

  ​ ​ ​

  ​

  ​ ​ ​

  ​

  ​ ​ ​

  ​

One-to-four-family residential

$

1,166,731

$

7,232

$

481

$

$

2,712

$

1,177,156

Home equity

 

150,413

 

445

 

385

 

 

1,359

 

152,602

Commercial real estate

 

1,923,108

 

80

 

 

 

855

 

1,924,043

Multi-family residential

517,527

517,527

Construction and land development

 

730,563

 

 

 

 

10

 

730,573

Commercial and industrial

 

895,662

 

73,225

 

2,531

 

 

36,251

 

1,007,669

Consumer

 

197,196

 

3,416

 

1,337

 

 

1,548

 

203,497

Mortgage Warehouse

280,949

280,949

Total

$

5,862,149

$

84,398

$

4,734

$

$

42,735

$

5,994,016

Schedule of amortized cost of nonaccrual loans receivable by loan category

June 30, 2026

December 31, 2025

Nonaccrual

Nonaccrual

Total

Nonaccrual

Nonaccrual

Total

Loans with

Loans with

Nonaccrual

Loans with

Loans with

Nonaccrual

  ​ ​ ​

No ACL

  ​ ​ ​

an ACL

  ​ ​ ​

Loans

  ​ ​ ​

No ACL

  ​ ​ ​

an ACL

  ​ ​ ​

Loans

(In thousands)

Real estate loans:

One-to-four-family residential

$

2,963

$

$

2,963

$

2,712

$

$

2,712

Home equity

1,547

1,547

1,359

1,359

Commercial real estate

957

957

855

855

Construction and land development

10

10

Commercial and industrial

11,807

8,639

20,446

19,799

16,452

36,251

Consumer

1,748

1,748

1,548

1,548

Total

$

19,022

$

8,639

$

27,661

$

26,283

$

16,452

$

42,735

Schedule of amortized cost of loans receivable by internal risk grade by year of origination

The following table presents the amortized cost of loans receivable by internal risk grade by year of origination as of June 30, 2026. Also presented are current period gross charge-offs by loan type and vintage year for the three months ended June 30, 2026:

Term Loans Amortized Cost Basis by Origination Year (in thousands)

Risk Rating

2026

2025

2024

2023

2022

Prior

Revolving Loans

Total

One-to-Four-Family Residential

Grade:

  ​ ​ ​

  ​ ​ ​

  ​ ​ ​

  ​ ​ ​

  ​ ​ ​

  ​ ​ ​

  ​ ​ ​

  ​ ​ ​

  ​ ​ ​

Pass

1-5

$

113,968

$

112,711

$

82,409

$

120,380

$

245,466

$

504,628

$

36,256

$

1,215,818

Special Mention

6

2,112

2,112

Substandard

7

2,326

128

2,454

Doubtful

8

Loss

9

Loans not formally risk rated (1)

Total

$

113,968

$

112,711

$

82,409

$

120,380

$

245,466

$

509,066

$

36,384

$

1,220,384

Current period gross charge-offs

$

$

$

$

$

$

$

$

Home Equity

Grade:

  ​ ​ ​

  ​ ​ ​

  ​ ​ ​

  ​ ​ ​

  ​ ​ ​

  ​ ​ ​

  ​ ​ ​

  ​ ​ ​

  ​ ​ ​

Pass

1-5

$

$

$

515

$

245

$

$

655

$

162,944

$

164,359

Special Mention

6

Substandard

7

109

124

450

864

1,547

Doubtful

8

Loss

9

Loans not formally risk rated (1)

Total

$

$

$

624

$

369

$

$

1,105

$

163,808

$

165,906

Current period gross charge-offs

$

$

$

$

$

$

$

$

Commercial Real Estate

Grade:

Pass

1-5

$

186,468

$

319,918

$

159,558

$

275,167

$

366,381

$

529,020

$

130,568

$

1,967,080

Special Mention

6

12,654

33,363

33,784

11,128

90,929

Substandard

7

739

1,212

61,567

63,518

Doubtful

8

Loss

9

Loans not formally risk rated (1)

Total

$

186,468

$

319,918

$

172,951

$

308,530

$

401,377

$

601,715

$

130,568

$

2,121,527

Current period gross charge-offs

$

$

$

$

$

$

10

$

$

10

Multi-Family

Grade:

Pass

1-5

$

23,818

$

52,857

$

16,978

$

133,466

$

204,987

$

134,322

$

1,294

$

567,722

Special Mention

6

Substandard

7

Doubtful

8

Loss

9

Loans not formally risk rated (1)

Total

$

23,818

$

52,857

$

16,978

$

133,466

$

204,987

$

134,322

$

1,294

$

567,722

Current period gross charge-offs

$

$

$

$

$

$

$

$

Term Loans Amortized Cost Basis by Origination Year (in thousands)

Risk Rating

2026

2025

2024

2023

2022

Prior

Revolving Loans

Total

Construction and Land Development

Grade:

Pass

1-5

$

55,072

$

109,613

$

217,867

$

190,108

$

11,223

$

18,385

$

158,603

$

760,871

Special Mention

6

4,788

4,788

Substandard

7

Doubtful

8

Loss

9

Loans not formally risk rated (1)

Total

$

55,072

$

109,613

$

217,867

$

190,108

$

16,011

$

18,385

$

158,603

$

765,659

Current period gross charge-offs

$

$

$

$

$

$

$

$

Commercial and Industrial

Grade:

Pass

1-5

$

248,501

$

71,010

$

58,569

$

85,207

$

76,575

$

126,997

$

326,487

$

993,346

Special Mention

6

22,558

17

70,360

5,925

8,685

19,237

126,782

Substandard

7

429

4,256

9,220

8,049

5,636

27,590

Doubtful

8

Loss

9

9

9

Loans not formally risk rated (1)

Total

$

248,501

$

93,568

$

59,015

$

159,823

$

91,729

$

143,731

$

351,360

$

1,147,727

Current period gross charge-offs

$

$

$

$

7

$

$

287

$

$

294

Consumer

Grade:

Pass

1-5

$

$

$

$

$

$

$

$

Special Mention

6

Substandard

7

Doubtful

8

Loss

9

Loans not formally risk rated (1)

43,679

52,462

33,022

3,131

37,919

50,961

5,609

226,783

Total

$

43,679

$

52,462

$

33,022

$

3,131

$

37,919

$

50,961

$

5,609

$

226,783

Current period gross charge-offs

$

$

53

$

66

$

454

$

504

$

985

$

19

$

2,081

Mortgage Warehouse

Grade:

Pass

1-5

$

$

$

$

$

$

$

217,657

$

217,657

Special Mention

6

Substandard

7

Doubtful

8

Loss

9

Loans not formally risk rated (1)

Total

$

$

$

$

$

$

$

217,657

$

217,657

Current period gross charge-offs

$

$

$

$

$

$

$

$

Total Loans

Grade:

Pass

1-5

$

627,827

$

666,109

$

535,896

$

804,573

$

904,632

$

1,314,007

$

1,033,809

$

5,886,853

Special Mention

6

22,558

12,671

103,723

44,497

21,925

19,237

224,611

Substandard

7

1,277

4,380

10,432

72,392

6,628

95,109

Doubtful

8

Loss

9

9

9

Loans not formally risk rated (1)

43,679

52,462

33,022

3,131

37,919

50,961

5,609

226,783

Total

$

671,506

$

741,129

$

582,866

$

915,807

$

997,489

$

1,459,285

$

1,065,283

$

6,433,365

Current period gross charge-offs

$

$

53

$

66

$

461

$

504

$

1,282

$

19

$

2,385

(1) Consumer loans are not formally risk rated and included $1.7 million of loans on non-accrual as of June 30, 2026.

The following table presents the amortized cost of loans receivable by internal risk grade by year of origination as of December 31, 2025. Also presented are current period gross charge-offs by loan type and vintage year for the three months ended December 31, 2025:

Term Loans Amortized Cost Basis by Origination Year (in thousands)

Risk Rating

2025

2024

2023

2022

2021

Prior

Revolving Loans

Total

One-to-Four-Family Residential

Grade:

  ​ ​ ​

  ​ ​ ​

  ​ ​ ​

  ​ ​ ​

  ​ ​ ​

  ​ ​ ​

  ​ ​ ​

  ​ ​ ​

  ​ ​ ​

Pass

1-5

$

109,894

$

99,901

$

133,211

$

252,202

$

230,200

$

310,541

$

38,849

$

1,174,798

Special Mention

6

Substandard

7

239

1,983

136

2,358

Doubtful

8

Loss

9

Loans not formally risk rated (1)

Total

$

109,894

$

99,901

$

133,211

$

252,202

$

230,439

$

312,524

$

38,985

$

1,177,156

Current period gross charge-offs

$

$

$

$

$

$

$

$

Home Equity

Grade:

  ​ ​ ​

  ​ ​ ​

  ​ ​ ​

  ​ ​ ​

  ​ ​ ​

  ​ ​ ​

  ​ ​ ​

  ​ ​ ​

  ​ ​ ​

Pass

1-5

$

$

481

$

245

$

$

$

919

$

149,598

$

151,243

Special Mention

6

Substandard

7

62

125

1,172

1,359

Doubtful

8

Loss

9

Loans not formally risk rated (1)

Total

$

$

543

$

370

$

$

$

919

$

150,770

$

152,602

Current period gross charge-offs

$

$

$

$

$

$

$

$

Commercial Real Estate

Grade:

Pass

1-5

$

277,427

$

176,824

$

268,778

$

350,792

$

166,603

$

443,438

$

109,330

$

1,793,192

Special Mention

6

12,654

33,785

49,323

4,277

6,918

106,957

Substandard

7

457

23,437

23,894

Doubtful

8

Loss

9

Loans not formally risk rated (1)

Total

$

277,427

$

189,478

$

302,563

$

400,572

$

170,880

$

473,793

$

109,330

$

1,924,043

Current period gross charge-offs

$

$

$

$

18

$

$

$

$

18

Multi-Family

Grade:

Pass

1-5

$

51,330

$

17,220

$

79,309

$

232,302

$

29,510

$

106,112

$

1,744

$

517,527

Special Mention

6

Substandard

7

Doubtful

8

Loss

9

Loans not formally risk rated (1)

Total

$

51,330

$

17,220

$

79,309

$

232,302

$

29,510

$

106,112

$

1,744

$

517,527

Current period gross charge-offs

$

$

$

$

$

$

$

$

Construction and Land Development

Grade:

Pass

1-5

$

95,751

$

212,670

$

256,764

$

13,536

$

16,138

$

3,466

$

99,857

$

698,182

Special Mention

6

32,381

32,381

Substandard

7

Doubtful

8

10

10

Loss

9

Loans not formally risk rated (1)

Total

$

95,751

$

212,670

$

256,764

$

45,917

$

16,138

$

3,476

$

99,857

$

730,573

Current period gross charge-offs

$

$

$

$

$

$

$

$

Commercial and Industrial

Grade:

Pass

1-5

$

72,148

$

65,844

$

99,436

$

91,265

$

106,858

$

61,608

$

387,604

$

884,763

Special Mention

6

1,696

2,262

12,851

10,417

4,306

45,454

76,986

Substandard

7

9,500

2,437

13,835

4,878

8,776

6,389

45,815

Doubtful

8

105

105

Loss

9

Loans not formally risk rated (1)

Total

$

81,648

$

67,540

$

104,135

$

118,056

$

122,153

$

74,690

$

439,447

$

1,007,669

Current period gross charge-offs

$

$

$

$

$

$

3,762

$

$

3,762

Term Loans Amortized Cost Basis by Origination Year (in thousands)

Risk Rating

2025

2024

2023

2022

2021

Prior

Revolving Loans

Total

Consumer

Grade:

Pass

1-5

$

$

$

$

$

$

$

$

Special Mention

6

Substandard

7

Doubtful

8

Loss

9

Loans not formally risk rated (1)

56,733

40,589

3,775

41,676

36,574

20,694

3,456

203,497

Total

$

56,733

$

40,589

$

3,775

$

41,676

$

36,574

$

20,694

$

3,456

$

203,497

Current period gross charge-offs

$

144

$

$

43

$

732

$

374

$

24

$

7

$

1,324

Mortgage Warehouse

Grade:

Pass

1-5

$

$

$

$

$

$

$

280,949

$

280,949

Special Mention

6

Substandard

7

Doubtful

8

Loss

9

Loans not formally risk rated (1)

Total

$

$

$

$

$

$

$

280,949

$

280,949

Current period gross charge-offs

$

$

$

$

$

$

$

$

Total Loans

Grade:

Pass

1-5

$

606,550

$

572,940

$

837,743

$

940,097

$

549,309

$

926,084

$

1,067,931

$

5,500,654

Special Mention

6

14,350

36,047

94,555

14,694

11,224

45,454

216,324

Substandard

7

9,500

62

2,562

14,292

5,117

34,196

7,697

73,426

Doubtful

8

105

10

115

Loss

9

Loans not formally risk rated (1)

56,733

40,589

3,775

41,676

36,574

20,694

3,456

203,497

Total

$

672,783

$

627,941

$

880,127

$

1,090,725

$

605,694

$

992,208

$

1,124,538

$

5,994,016

Current period gross charge-offs

$

144

$

$

43

$

750

$

374

$

3,786

$

7

$

5,104

(1) Consumer loans are not formally risk rated and included $1.5 million of loans on non-accrual as of December 31, 2025.

Schedule of the change in the ACL by major loan segment

  ​ ​ ​

For the Three Months Ended June 30, 2026

One-to-Four

Construction 

Family

Commercial

and Land 

Commercial and

  ​ ​ ​

  ​ ​ ​

Residential

  ​ ​ ​

Home Equity

  ​ ​ ​

Real Estate

  ​ ​ ​

Multi-Family

Development

  ​ ​ ​

Industrial

  ​ ​ ​

Consumer

Mortgage Warehouse

Unallocated

  ​ ​ ​

Total

(in thousands)

Balance at March 31, 2026

$

1,709

$

155

$

21,985

$

1,397

$

5,204

$

41,334

$

8,189

222

$

$

80,195

Provision for (release of) credit losses

 

(6)

659

(150)

906

(1,788)

3,443

(70)

 

 

2,994

Charge-offs

 

 

 

(10)

 

 

 

(294)

 

(2,081)

 

 

 

(2,385)

Recoveries of loans previously charged-off

 

 

 

 

 

 

1,188

 

96

 

 

 

1,284

Balance at June 30, 2026

$

1,709

$

149

$

22,634

$

1,247

$

6,110

$

40,440

$

9,647

$

152

$

$

82,088

  ​ ​ ​

For the Three Months Ended June 30, 2025

One-to-Four

Construction 

Family

Commercial

and Land 

Commercial and

Residential

  ​ ​ ​

Home Equity

  ​ ​ ​

Real Estate

  ​ ​ ​

Multi-Family

Development

  ​ ​ ​

Industrial

  ​ ​ ​

Consumer

Mortgage Warehouse

Unallocated

  ​ ​ ​

Total

(in thousands)

Balance at March 31, 2025

$

1,293

$

88

$

8,758

$

615

$

4,840

$

12,087

$

10,657

$

$

$

38,338

Provision for (release of) credit losses

 

(5)

3

400

(77)

2,313

2,216

(606)

 

 

4,244

Charge offs

 

 

 

 

 

 

 

(1,190)

 

 

(1,190)

Recoveries of loans previously charged off

 

 

 

923

 

 

 

12

 

274

 

 

 

1,209

Balance at June 30, 2025

$

1,288

$

91

$

10,081

$

538

$

7,153

$

14,315

$

9,135

$

$

$

42,601

  ​ ​ ​

For the Six Months Ended June 30, 2026

One-to-Four

Family

Commercial

Construction and

Commercial and

Residential

  ​ ​ ​

Home Equity

  ​ ​ ​

Real Estate

  ​ ​ ​

Multi-Family

Land Development

  ​ ​ ​

Industrial

  ​ ​ ​

Consumer

Mortgage Warehouse

Unallocated

  ​ ​ ​

Total

(in thousands)

Balance at December 31, 2025

$

1,703

$

152

$

21,599

$

1,188

$

5,050

$

49,599

$

7,895

225

$

$

87,411

Provision for (release of) credit losses

 

62

(3)

1,045

59

1,060

2,305

4,921

(73)

 

 

9,376

Charge offs

 

(56)

 

 

(10)

 

 

 

(12,664)

 

(3,490)

 

 

 

(16,220)

Recoveries of loans previously charged off

 

 

 

 

 

 

1,200

 

321

 

 

 

1,521

Balance at June 30, 2026

$

1,709

$

149

$

22,634

$

1,247

$

6,110

$

40,440

$

9,647

$

152

$

$

82,088

  ​ ​ ​

For the Six Months Ended June 30, 2025

One-to-Four

Family

Commercial

Construction and

Commercial and

Residential

  ​ ​ ​

Home Equity

  ​ ​ ​

Real Estate

  ​ ​ ​

Multi-Family

Land Development

  ​ ​ ​

Industrial

  ​ ​ ​

Consumer

Mortgage Warehouse

Unallocated

  ​ ​ ​

Total

(in thousands)

Balance at December 31, 2024

$

1,195

$

74

$

9,481

$

599

$

4,137

$

11,174

$

12,084

$

$

$

38,744

Provision for (release of) credit losses

 

93

17

(323)

(61)

3,016

3,117

(668)

 

5,191

Charge offs

 

 

 

 

 

 

 

(2,748)

 

 

(2,748)

Recoveries of loans previously charged off

 

 

 

923

 

 

 

24

 

467

 

 

 

1,414

Balance at June 30, 2025

$

1,288

$

91

$

10,081

$

538

$

7,153

$

14,315

$

9,135

$

$

$

42,601

Schedule of amortized cost of collateral-dependent loans

As of

June 30, 2026

  ​ ​ ​

December 31, 2025

(in thousands)

Real estate loans:

One-to-four-family residential

$

2,875

$

2,433

Home equity

1,498

1,338

Commercial real estate

58,886

19,057

Construction and land development

10

Commercial and industrial loans

52,472

62,986

Total

$

115,731

$

85,824

Schedule of analysis of the change in the allowance for loan losses by loan type

Three Months Ended June 30, 2026

Amortized

% of Total Class of

  ​ ​ ​

Cost Basis

  ​ ​ ​

Financing Receivable

  ​ ​ ​

Financial Effect

(In thousands)

Interest rate reduction

Commercial real estate

$

4,421

0.2

%

P&I payment structure extended

Total

$

4,421

Six Months Ended June 30, 2026

Amortized

% of Total Class of

  ​ ​ ​

Cost Basis

  ​ ​ ​

Financing Receivable

  ​ ​ ​

Financial Effect

(In thousands)

Term extension and interest rate increase

Commercial real estate

$

7,367

0.3

%

Aggregated term loans, cash injection to pay down principal, P&I payment structure extended

Total

$

7,367