Schedule of loans, net of deferred costs and fees

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


		At		At
		June 30,		December 31,
		2026		2025
Real estate
Commercial		$	5,764,905	$	5,201,489
Construction			244,244		261,804
Multi-family			414,331		397,010
One-to four-family			84,332		86,449
Total real estate loans			6,507,812		5,946,752
Commercial and industrial			831,436		871,652
Consumer			9,283		10,349
Total loans			7,348,531		6,828,753
Deferred fees, net of origination costs			(19,628)		(18,520)
Loans, net of deferred fees and costs			7,328,903		6,810,233
Allowance for credit losses			(62,012)		(97,081)
Net loans		$	7,266,891	$	6,713,152

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

Three months ended June 30,

Six months ended June 30,

 

2026

2025

2026

2025

Balance at the beginning of period	$	2,409	$	2,046	$	2,140	$	2,008
Provision/(credit) for credit losses		(840)		124		(571)		162
Total ending allowance balance	$	1,569	$	2,170	$	1,569	$	2,170

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 June 30, 2026 and charge-offs for the six months ended June 30, 2026 (in thousands):


																	2021
		2026			2025			2024			2023			2022			& Prior			Revolving			Total
CRE
Pass		$	1,544,314		$	2,000,568		$	872,414		$	412,279		$	481,732		$	280,116		$	53,736		$	5,645,159
Special Mention			35,335			22,926			27,811			—			—			—			—			86,072
Substandard			23,500			3,461			—			—			4,631			2,082			—			33,674
Total		$	1,603,149		$	2,026,955		$	900,225		$	412,279		$	486,363		$	282,198		$	53,736		$	5,764,905

Construction
Pass		$	66,396		$	57,315		$	98,938		$	—		$	—		$	—		$	21,595		$	244,244
Total		$	66,396		$	57,315		$	98,938		$	—		$	—		$	—		$	21,595		$	244,244

Multi-family
Pass		$	127,573		$	81,693		$	25,972		$	30,107		$	34,427		$	55,957		$	11,116		$	366,845
Special Mention			—			15,402			—			—			—			8,990			—			24,392
Substandard			—			19,166			2,529			—			—			1,399			—			23,094
Total		$	127,573		$	116,261		$	28,501		$	30,107		$	34,427		$	66,346		$	11,116		$	414,331

One-to four-family
Current		$	—		$	—		$	—		$	45,000		$	3,105		$	33,826		$	—		$	81,931
Past Due			—			—			—			—			—			2,401			—			2,401
Total		$	—		$	—		$	—		$	45,000		$	3,105		$	36,227		$	—		$	84,332

C&I
Pass		$	73,138		$	41,650		$	62,544		$	7,307		$	46,272		$	7,599		$	536,856		$	775,366
Special Mention			1,434			7,967			600			—			—			—			—			10,001
Substandard			—			—			—			3,840			27,773			—			14,456			46,069
Total		$	74,572		$	49,617		$	63,144		$	11,147		$	74,045		$	7,599		$	551,312		$	831,436

Consumer
Current		$	—		$	—		$	—		$	—		$	—		$	9,283		$	—		$	9,283
Total		$	—		$	—		$	—		$	—		$	—		$	9,283		$	—		$	9,283

Total
Pass/Current		$	1,811,421		$	2,181,226		$	1,059,868		$	494,693		$	565,536		$	386,781		$	623,303		$	7,122,828
Special Mention			36,769			46,295			28,411			—			—			8,990			—			120,465
Substandard/Past due			23,500			22,627			2,529			3,840			32,404			5,882			14,456			105,238
Total		$	1,871,690		$	2,250,148		$	1,090,808		$	498,533		$	597,940		$	401,653		$	637,759		$	7,348,531

Charge-offs
CRE		$	—		$	—		$	—		$	—		$	—		$	8,511		$	—		$	8,511
C&I			—			—			200			—			14,198			4,329			—			18,727
Multi-family			—			—			—			—			5,790			14,113			—			19,903
Consumer			—			—			—			—			—			153			—			153
Total		$	—		$	—		$	200		$	—		$	19,988		$	27,106		$	—		$	47,294

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):


			Combination			Combination
			Term			Term Extension			Modifications
			Extension and			Payment Deferral and			as a % of
Three months ended June 30, 2026	Extension		Interest Rate			Debt Forgiveness	Total		Loan Class
Commercial real estate	$	—	$	23,500	$	—	$	23,500	0.4%
Multi-family	$	—	$	—	$	13,880	$	13,880	3.3%
Total	$	—	$	23,500	$	13,880	$	37,380


			Combination			Combination
			Term			Term Extension			Modifications
			Extension and			Payment Deferral and			as a % of
Six months ended June 30, 2026	Extension		Interest Rate			Debt Forgiveness	Total		Loan Class
Commercial real estate	$	—	$	23,500	$	—	$	23,500	0.4%
Multi-family	$	—	$	—	$	13,880	$	13,880	3.3%
Total	$	—	$	23,500	$	13,880	$	37,380


			Combination			Combination
			Term			Term Extension			Modifications
			Extension and			Payment Deferral and			as a % of
Three months ended June 30, 2025	Extension		Interest Rate			Debt Forgiveness	Total		Loan Class
Commercial real estate	$	—	$	—	$	—	$	—	0.0%
Total	$	—	$	—	$	—	$	—


			Combination			Combination
			Term			Term Extension			Modifications
			Extension and			Payment Deferral and			as a % of
Six months ended June 30, 2025	Extension		Interest Rate			Debt Forgiveness	Total		Loan Class
Multi-family	$	51,239	$	—	$	—	$	51,239	12.4%
Total	$	51,239	$	—	$	—	$	51,239

The following tables describe the types of modifications made to borrowers experiencing financial difficulty (dollars in thousands):


	Types of Modifications
						Weighted
		Combination		Combination		Average
		Term		Term Extension		Interest
	Term	Extension and		Payment Deferral		Rate
	Extension	Interest Rate		and Debt Forgiveness		Reduction
Three months ended June 30, 2026
Commercial real estate	—		96 months		—	2.8%
Multi-family	—		—		130 months 3 months $19,903	0.0%


	Types of Modifications
						Weighted
		Combination		Combination		Average
		Term		Term Extension		Interest
	Term	Extension and		Payment Deferral		Rate
	Extension	Interest Rate		and Debt Forgiveness		Reduction
Six months ended June 30, 2026
Commercial real estate	—		96 months		—	2.8%
Multi-family	—		—		130 months 3 months $19,903	0.0%


	Types of Modifications
						Weighted
		Combination		Combination		Average
		Term		Term Extension		Interest
	Term	Extension and		Payment Deferral		Rate
	Extension	Interest Rate		and Debt Forgiveness		Reduction
Three months ended June 30, 2025
Multi-family	—		—		—	0.0%


	Types of Modifications
						Weighted
		Combination		Combination		Average
		Term		Term Extension		Interest
	Term	Extension and		Payment Deferral		Rate
	Extension	Interest Rate		and Debt Forgiveness		Reduction
Six months ended June 30, 2025
Multi-family	6-12 months		—		—	0.0%

LOANS AND ALLOWANCE FOR CREDIT LOSSES