Metropolitan Bank Holding (MCB) 10-Q 3 Nov 21 2021 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2021	Nov. 01, 2021
Document And Entity Information (Abstract)
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Sep. 30, 2021
Entity Registrant Name	Metropolitan Bank Holding Corp.
Entity File Number	001-38282
Entity Incorporation, State or Country Code	NY
Entity Tax Identification Number	13-4042724
Entity Address, Address Line One	99 Park Avenue
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10016
City Area Code	212
Local Phone Number	659-0600
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	MCB
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		10,644,192
Entity Central Index Key	0001476034
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Amendment Flag	false

CONSOLIDATED STATEMENTS OF FINA

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Assets
Cash and due from banks	$ 32,660	$ 8,692
Overnight deposits	1,824,820	855,613
Total cash and cash equivalents	1,857,480	864,305
Investment securities available for sale, at fair value	603,168	266,096
Investment securities held to maturity (estimated fair value of $2,074 and $2,827 at September 30, 2021 and December 31, 2020 respectively)	2,017	2,760
Equity investment securities, at fair value	2,289	2,313
Total securities	607,474	271,169
Other investments	11,998	11,597
Loans, net of deferred fees and unamortized costs	3,603,288	3,137,053
Allowance for loan losses	(38,121)	(35,407)
Net loans	3,565,167	3,101,646
Receivable from global payments business, net	48,302	27,259
Accrued interest receivable	13,504	13,249
Premises and equipment, net	14,031	13,475
Prepaid expenses and other assets	13,565	18,388
Goodwill	9,733	9,733
Total assets	6,141,254	4,330,821
Deposits:
Noninterest-bearing demand deposits	2,803,823	1,726,135
Interest-bearing deposits	2,653,746	2,103,471
Total deposits	5,457,569	3,829,606
Trust preferred securities	20,620	20,620
Subordinated debt, net of issuance cost	24,698	24,657
Secured borrowing	35,559	36,964
Accounts payable, accrued expenses and other liabilities	38,129	61,645
Accrued interest payable	448	712
Prepaid third-party debit cardholder balances	21,577	15,830
Total liabilities	5,598,600	3,990,034
Stockholders' equity:
Common stock, $0.01 par value, 25,000,000 shares authorized, 10,644,192 and 8,295,272 shares issued and outstanding at September 30, 2021 and December 31, 2020, respectively	106	82
Additional paid in capital	382,922	218,899
Retained earnings	162,498	120,830
Accumulated other comprehensive income (loss), net of tax	(2,875)	973
Total stockholders' equity	542,654	340,787
Total liabilities and stockholders' equity	6,141,254	4,330,821
Class B Preferred Stock
Stockholders' equity:
Class B preferred stock, $0.01 par value, authorized 2,000,000 shares, 272,636 shares issued and outstanding at September 30, 2021 and December 31, 2020	$ 3	$ 3

CONSOLIDATED STATEMENTS OF FI_2

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Securities held to maturity	$ 2,074	$ 2,827
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	25,000,000	25,000,000
Common stock, shares issued	10,644,192	8,295,272
Common stock, shares outstanding	10,644,192	8,295,272
Class B Preferred Stock
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	2,000,000	2,000,000
Preferred stock, shares issued	272,636	272,636
Preferred stock, shares outstanding	272,636	272,636

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Interest and dividend income:
Loans, including fees	$ 42,730	$ 34,844	$ 118,803	$ 100,655
Securities:
Taxable	1,418	606	3,322	2,615
Tax-exempt	51		138
Money market funds				34
Overnight deposits	666	299	1,453	2,266
Other interest and dividends	153	196	457	666
Total interest income	45,018	35,945	124,173	106,236
Interest expense:
Deposits	3,716	2,681	10,452	11,364
Borrowed funds		423		1,742
Trust preferred securities	105	112	320	461
Subordinated debt interest expense	405	405	1,214	1,214
Total interest expense	4,226	3,621	11,986	14,781
Net interest income	40,792	32,324	112,187	91,455
Provision for loan losses	490	1,137	3,315	7,693
Net interest income after provision for loan losses	40,302	31,187	108,872	83,762
Non-interest income:
Unrealized gain on equity securities	(9)		(45)	55
Gain on sale of securities			609	3,286
Total non-interest income	5,891	3,637	16,642	13,627
Non-interest expense:
Compensation and benefits	11,269	9,944	33,907	29,962
Bank premises and equipment	2,038	2,111	6,063	6,498
Professional fees	1,877	1,221	5,183	3,058
Licensing fees and technology costs	3,291	2,960	9,806	10,226
Other expenses	3,509	2,694	9,036	6,984
Total non-interest expense	21,984	18,930	63,995	56,728
Net income before income tax expense	24,209	15,894	61,519	40,661
Income tax expense	7,994	5,111	19,851	12,971
Net income	$ 16,215	$ 10,783	$ 41,668	$ 27,690
Earnings per common share:
Basic earnings per common share (in dollars per share)	$ 1.82	$ 1.30	$ 4.89	$ 3.34
Diluted earnings per common share (in dollars per share)	$ 1.77	$ 1.27	$ 4.76	$ 3.27
Service charges on deposit accounts
Non-interest income:
Non-interest income	$ 1,671	$ 863	$ 4,085	$ 2,747
Revenue, Product and Service [Extensible List]	Service charges on deposit accounts	Service charges on deposit accounts	Service charges on deposit accounts	Service charges on deposit accounts
Prepaid third-party debit card income.
Non-interest income:
Non-interest income	$ 3,615	$ 2,572	$ 10,509	$ 6,301
Revenue, Product and Service [Extensible List]	Prepaid third-party debit card income.	Prepaid third-party debit card income.	Prepaid third-party debit card income.	Prepaid third-party debit card income.
Other service charges and fees
Non-interest income:
Non-interest income	$ 614	$ 202	$ 1,484	$ 1,238
Revenue, Product and Service [Extensible List]	Other service charges and fees	Other service charges and fees	Other service charges and fees	Other service charges and fees

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Net income	$ 16,215	$ 10,783	$ 41,668	$ 27,690
Other comprehensive income:
Unrealized holding gain (loss) arising during the period	(1,321)	100	(6,587)	5,210
Reclassification adjustment for gains included in net income			(609)	(3,286)
Tax effect	415	(43)	2,279	(620)
Net of tax	(906)	57	(4,917)	1,304
Unrealized gain (loss) on cash flow hedges:
Unrealized holding gain (loss) arising during the period	(143)	(218)	1,572	(2,095)
Tax effect	46	76	(503)	668
Net of tax	(97)	(142)	1,069	(1,427)
Total other comprehensive income (loss)	(1,003)	(85)	(3,848)	(123)
Comprehensive Income	$ 15,212	$ 10,698	$ 37,820	$ 27,567

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Class B Preferred StockPreferred Stock	Common Stock	Additional Paid-in Capital	Retained Earnings	AOCI (Loss), Net	Total
Balance at Dec. 31, 2019	$ 3	$ 82	$ 216,468	$ 81,364	$ 1,207	$ 299,124
Balance (in shares) at Dec. 31, 2019	272,636	8,312,918
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Restricted stock, net of forfeiture				1		1
Restricted stock, net of forfeiture (in shares)		(16,976)
Stock-based compensation			2,489			2,489
Impact of shares for tax withholding for restricted stock vesting			(597)			(597)
Impact of shares for tax withholding for restricted stock vesting (in shares)		(6,463)
Net income				27,690		27,690
Other comprehensive income (loss)					(123)	(123)
Balance at Sep. 30, 2020	$ 3	$ 82	218,360	109,055	1,084	328,584
Balance (in shares) at Sep. 30, 2020	272,636	8,289,479
Balance at Jun. 30, 2020	$ 3	$ 82	217,643	98,272	1,169	317,169
Balance (in shares) at Jun. 30, 2020	272,636	8,294,801
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Restricted stock, net of forfeiture			735			735
Restricted stock, net of forfeiture (in shares)		(4,732)
Stock-based compensation			(18)			(18)
Stock-based compensation (in shares)		(590)
Net income				10,783		10,783
Other comprehensive income (loss)					(85)	(85)
Balance at Sep. 30, 2020	$ 3	$ 82	218,360	109,055	1,084	328,584
Balance (in shares) at Sep. 30, 2020	272,636	8,289,479
Balance at Dec. 31, 2020	$ 3	$ 82	218,899	120,830	973	340,787
Balance (in shares) at Dec. 31, 2020	272,636	8,295,272
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock		$ 23	162,664			162,687
Issuance of common stock (in shares)		2,300,000
Restricted stock, net of forfeiture		$ 1				1
Restricted stock, net of forfeiture (in shares)		93,090
Stock-based compensation			3,605			3,605
Impact of shares for tax withholding for restricted stock vesting			(2,246)			(2,246)
Impact of shares for tax withholding for restricted stock vesting (in shares)		(44,170)
Net income				41,668		41,668
Other comprehensive income (loss)					(3,848)	(3,848)
Balance at Sep. 30, 2021	$ 3	$ 106	382,922	162,498	(2,875)	542,654
Balance (in shares) at Sep. 30, 2021	272,636	10,644,192
Balance at Jun. 30, 2021	$ 3	$ 83	219,098	146,283	(1,872)	363,595
Balance (in shares) at Jun. 30, 2021	272,636	8,344,192
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock		$ 23	162,664			162,687
Issuance of common stock (in shares)		2,300,000
Stock-based compensation			1,160			1,160
Net income				16,215		16,215
Other comprehensive income (loss)					(1,003)	(1,003)
Balance at Sep. 30, 2021	$ 3	$ 106	$ 382,922	$ 162,498	$ (2,875)	$ 542,654
Balance (in shares) at Sep. 30, 2021	272,636	10,644,192

CONSOLIDATED STATEMENT OF CASH

CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Cash flows from operating activities:
Net income	$ 41,668	$ 27,690
Adjustments to reconcile net income to net cash:
Net depreciation amortization and accretion	3,327	4,178
Provision for loan losses	3,315	7,693
Net change in deferred loan fees	1,855	278
Income tax expense (benefit)	1,029	43
Gain on sale of available-for-sale securities	(609)	(3,286)
Stock-based compensation expense	3,605	2,489
Gain on sale of loans		(18)
Dividends earned on CRA fund	(21)	(32)
Unrealized (gain) loss on equity securities	45	(55)
Net change in:
Accrued interest receivable	(255)	(3,662)
Accounts payable, accrued expenses and other liabilities	(23,516)	13,458
Change in global payments balances	5,747	19,873
Accrued interest payable	(264)	(750)
Receivable from global payments, net	(20,542)	(19,656)
Prepaid expenses and other assets	6,408	8,239
Net cash provided by (used in) operating activities	21,792	56,482
Cash flows from investing activities:
Loan originations, purchases and payments, net of recoveries	(468,691)	(327,194)
Proceeds from loans sold		9,968
Redemptions of other investments	5	11,480
Purchases of other investments	(405)	(1,140)
Purchases of securities available for sale	(475,777)	(127,730)
Proceeds from calls of securities available for sale		30,000
Proceeds from sales of securities available for sale	43,241	111,422
Proceeds from paydowns and maturities of securities available for sale	87,151	43,069
Proceeds from paydowns and maturities of securities held to maturity	725	650
Purchase of derivative contract		(2,980)
Purchase of premises and equipment, net	(1,842)	(6,850)
Net cash provided by (used in) investing activities	(815,593)	(259,305)
Cash flows from financing activities:
Issuance of common stock	162,664
Proceeds from FHLB advances	100
Repayments of FHLB advances	(100)	(144,000)
Impact of common stock for tax withholdings for restricted stock vesting	(2,246)	(597)
Repayments of secured borrowings	(1,405)	(10,748)
Net increase in deposits	1,627,963	736,852
Net cash provided by (used in) financing activities	1,786,976	581,507
Increase (decrease) in cash and cash equivalents	993,175	378,684
Cash and cash equivalents at the beginning of the period	864,305	389,220
Cash and cash equivalents at the end of the period	1,857,480	767,904
Cash paid for:
Interest	12,250	15,531
Income Taxes	$ 15,015	$ 7,235

ORGANIZATION

ORGANIZATION	9 Months Ended
	Sep. 30, 2021
ORGANIZATION
ORGANIZATION	NOTE 1 - ORGANIZATION Metropolitan Bank Holding Corp., a New York corporation (the “Company”), is a bank holding company whose principal activity is the ownership and management of Metropolitan Commercial Bank (the “Bank”), its wholly-owned subsidiary. The Company’s primary market is the New York metropolitan area. The Company provides a broad range of business, commercial and retail banking products and services to small businesses, middle-market enterprises, public entities and affluent individuals. The Company’s primary lending products are commercial real estate loans, multi-family loans and commercial and industrial loans. Substantially all loans are secured by specific items of collateral including business assets, consumer assets, and commercial and residential real estate. Commercial loans are expected to be repaid from cash flows from operations of businesses. The Company’s primary deposit products are checking, savings, and term deposit accounts, and its deposit accounts are insured by the FDIC under the maximum amounts allowed by law. In addition to traditional commercial banking products, the Company offers corporate cash management and retail banking services and, through its Global Payments Group (“global payments business”), provides Banking-as-a-Service to its fintech partners, which includes serving as an issuing bank for third-party managed debit card programs nationwide and providing other financial infrastructure, including cash settlement and custodian deposit services. The Company and the Bank are subject to the regulations of certain state and federal agencies and, accordingly, are periodically examined by those regulatory authorities. The Company’s business is affected by state and federal legislation and regulations.

BASIS OF PRESENTATION

BASIS OF PRESENTATION	9 Months Ended
	Sep. 30, 2021
BASIS OF PRESENTATION
BASIS OF PRESENTATION	NOTE 2 – BASIS OF PRESENTATION The accounting and reporting policies of the Company conform with U.S. generally accepted accounting principles (“GAAP”) and predominant practices within the U.S. banking industry. All intercompany balances and transactions have been eliminated. The Unaudited Consolidated Financial Statements, which include the accounts of the Company and the Bank, have been prepared in accordance with GAAP for interim financial information and with the instructions to Form 10-Q, Article 8 of Regulation S-X and predominant practices within the U.S. banking industry. Certain information and note disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to the rules and regulations of the SEC. The Unaudited Consolidated Financial Statements reflect all normal recurring adjustments that are, in the opinion of management, necessary for a fair presentation of the results for the interim periods presented. In preparing the interim financial statements in conformity with GAAP, management has made estimates and assumptions based on available information. These estimates and assumptions affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expense during the reported periods, and actual results could differ from those estimated. Information available which could affect these judgments include, but are not limited to, changes in interest rates, changes in the performance of the economy, and changes in the financial condition of borrowers. Some items in the prior year financial statements were reclassified to conform to the current presentation. Reclassifications had no effect on prior-year net income or shareholders’ equity. The results of operations for the three and nine months ended September 30, 2021 are not necessarily indicative of the results of operations that may be expected for the entire fiscal year or for any other period. The unaudited consolidated financial statements presented in this report should be read in conjunction with the Company’s audited consolidated financial statements and notes to the audited consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020 as filed with the SEC.

SUMMARY OF RECENT ACCOUNTING PR

SUMMARY OF RECENT ACCOUNTING PRONOUNCEMENTS	9 Months Ended
	Sep. 30, 2021
SUMMARY OF RECENT ACCOUNTING PRONOUNCEMENTS
SUMMARY OF RECENT ACCOUNTING PRONOUNCEMENTS	NOTE 3 – SUMMARY OF RECENT ACCOUNTING PRONOUNCEMENTS Pursuant to the Tax Cuts and Jobs Act (“JOBS Act”), an Emerging Growth Company (“EGC”) is provided the option to adopt new or revised accounting standards that may be issued by the FASB or the Securities and Exchange Commission either (i) within the same periods as those otherwise applicable to non-EGCs or (ii) within the same time periods as private companies. The Company elected delayed effective dates of recently issued accounting standards. As permitted by the JOBS Act, so long as it qualifies as an EGC, the Company will take advantage of some of the reduced regulatory and reporting requirements that are available to it, including, but not limited to, not being required to comply with the auditor attestation requirements of Section 404(b) of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation, and exemptions from the requirements of holding non-binding advisory votes on executive compensation and golden parachute payments. The Company is likely to lose its EGC status on December 31, 2022, since that would be the last day of the fiscal year of the Company following the fifth anniversary of the date of the first sale of common equity securities of the Company pursuant to an effective registration statement under the Securities Act of 1933. ​ In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842), which requires companies that lease assets to recognize on their balance sheets the assets and liabilities generated by contracts longer than a year. Under ASU 2016-02, the Company will recognize a right-of-use asset and a lease obligation liability on the consolidated statement of financial condition, which will increase the Company’s assets and liabilities. The Company is required to implement ASU 2016-02 by December 31, 2022, and is currently evaluating the potential impact on its consolidated financial statements. The Company has not yet adopted ASU No. 2016-13, Financial Instruments – Credit Losses, which requires the measurement of all current expected credit losses (“CECL”) for financial assets. The Company is required to implement CECL by December 31, 2022. The Company is currently developing CECL models and evaluating its potential impact on the Company’s Allowance for Loan and Lease Losses (“ALLL”). ​ In January 2017, the FASB issued ASU 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment, which eliminates the second step in the goodwill impairment test which requires an entity to determine the implied fair value of the reporting unit’s goodwill. Instead, an entity should recognize an impairment loss if the carrying value of the net assets assigned to the reporting unit exceeds the fair value of the reporting unit, with the impairment loss not to exceed the amount of goodwill allocated to the reporting unit. The standard was effective for the Company beginning January 1, 2021, and did not have a material impact on its consolidated financial statements. In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting, which provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The amendments in this ASU apply only to contracts, hedging relationships, and other transactions that reference the London Inter-Bank Offered Rate (“LIBOR”) or another reference rate expected to be discontinued because of reference rate reform. The amendments in this ASU are effective for all entities as of March 12, 2020 through December 31, 2022. An entity may elect to apply the amendments for contract modifications at the instrument level as of any date from the beginning of an interim period that includes or is subsequent to March 12, 2020, or prospectively from a date within an interim period that includes or is subsequent to March 12, 2020, up to the date that the financial statements are available to be issued. In January 2021 the FASB issued ASU 2021-01. The amendments in this ASU clarify that certain optional expedients and exceptions in Topic 848 for contract modifications and hedge accounting apply to derivatives that are affected by the discounting transition. Specifically, certain provisions in Topic 848, if elected by an entity, apply to derivative instruments that use an interest rate for margining, discounting, or contract price alignment that is modified as a result of reference rate reform. Management has established a working group to evaluate the impact of the transition from LIBOR on the Company and its consolidated financial statements. The working group has developed an inventory of impacted contracts and client relationships and is in the process of assessing LIBOR alternatives and how such alternatives may be implemented.

INVESTMENT SECURITIES

INVESTMENT SECURITIES	9 Months Ended
	Sep. 30, 2021
INVESTMENT SECURITIES
INVESTMENT SECURITIES	NOTE 4 - INVESTMENT SECURITIES The following tables summarize the amortized cost and fair value of debt securities available for sale (“AFS”), debt securities held to maturity (“HTM”) and equity investments at September 30, 2021 and December 31, 2020 and the corresponding amounts of gross unrealized gains and losses recognized in accumulated other comprehensive income (loss) and gross unrecognized gains and losses (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross ​ Gross ​ ​ ​ ​ ​ ​ ​ ​ Unrealized/ ​ Unrealized/ ​ ​ ​ ​ ​ Amortized ​ Unrecognized ​ Unrecognized ​ ​ ​ At September 30, 2021 Cost Gains Losses Fair Value Debt securities available for sale: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential mortgage securities ​ $ 504,167 ​ $ 1,123 ​ $ (3,859) ​ $ 501,431 Commercial mortgage securities ​ ​ 18,270 ​ ​ 249 ​ ​ (263) ​ ​ 18,256 Asset-backed securities ​ ​ 4,750 ​ ​ — ​ ​ (17) ​ ​ 4,733 U.S. Government agency ​ ​ 67,994 ​ ​ — ​ ​ (763) ​ ​ 67,231 Securities issued by states and political subdivisions in the U.S ​ ​ 11,836 ​ ​ — ​ ​ (319) ​ ​ 11,517 Total securities available-for-sale ​ $ 607,017 ​ $ 1,372 ​ $ (5,221) ​ $ 603,168 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Held-to-maturity securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential mortgage securities ​ $ 2,017 ​ ​ 57 ​ ​ — ​ ​ 2,074 Total securities held-to-maturity ​ $ 2,017 ​ $ 57 ​ $ — ​ $ 2,074 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity investments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ CRA Mutual Fund ​ $ 2,320 ​ ​ — ​ ​ (31) ​ ​ 2,289 Total non-trading equity investment securities ​ $ 2,320 ​ $ — ​ $ (31) ​ $ 2,289 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross ​ Gross ​ ​ ​ ​ ​ ​ ​ ​ Unrealized/ ​ Unrealized/ ​ ​ ​ ​ ​ Amortized ​ Unrecognized ​ Unrecognized ​ ​ ​ At December 31, 2020 Cost Gains Losses Fair Value Debt securities available for sale: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential mortgage securities ​ $ 192,163 ​ $ 2,599 ​ $ (74) ​ $ 194,688 Commercial mortgage securities ​ ​ 32,589 ​ ​ 997 ​ ​ (94) ​ ​ 33,492 U.S. Government agency ​ ​ 37,997 ​ ​ — ​ ​ (81) ​ ​ 37,916 Total securities available-for-sale ​ $ 262,749 ​ $ 3,596 ​ $ (249) ​ $ 266,096 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Held-to-maturity securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential mortgage securities ​ ​ 2,760 ​ ​ 67 ​ ​ — ​ ​ 2,827 Total securities held-to-maturity ​ $ 2,760 ​ $ 67 ​ $ — ​ $ 2,827 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity investments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ CRA Mutual Fund ​ ​ 2,299 ​ ​ 14 ​ ​ — ​ ​ 2,313 Total non-trading equity investment securities ​ $ 2,299 ​ $ 14 ​ $ — ​ $ 2,313 ​ For the three months ended September 30, 2021, there were no sales of AFS securities. For the nine months ended September 30, 2021, there were sales of $42.6 million, at amortized cost, of AFS securities. For the three months ended September 30, 2020, there were calls of $25.0 million, at amortized cost of AFS securities. There were sales and calls of $108.1 million and $30.0 million, at amortized cost, respectively, for the nine months ended September 30, 2020. The proceeds from sales and calls of AFS securities and associated gains for the three and nine months ended September 30, 2021 and 2020 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended September 30, ​ Nine months ended September 30, ​ ​ 2021 ​ 2020 2021 2020 Proceeds ​ $ — ​ $ 25,000 ​ $ 43,241 ​ $ 141,422 Gross gains ​ $ — ​ $ — ​ $ 609 ​ $ 3,286 Tax impact ​ $ — ​ $ — ​ $ (195) ​ $ (1,036) ​ The tables below summarize, by contractual maturity, the amortized cost and fair value of debt securities at September 30, 2021 and December 31, 2020. The table does not include the effect of principal repayments. Equity securities, primarily investment in mutual funds, have been excluded from the table. Expected maturities may differ from contractual maturities if borrowers have the right to call or prepay obligations with or without call or prepayment penalties. Securities not due at a single maturity date, primarily mortgage-backed securities, are shown separately (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Held-to-Maturity ​ Available-for-Sale At September 30, 2021 Amortized Cost Fair Value Amortized Cost Fair Value Within one year ​ $ — ​ $ — ​ $ — ​ $ — One to five years ​ ​ — ​ ​ — ​ ​ 47,994 ​ ​ 47,475 Five to ten years ​ ​ — ​ ​ — ​ ​ 15,000 ​ ​ 14,832 After ten years ​ ​ — ​ ​ — ​ ​ 16,836 ​ ​ 16,441 Total ​ $ — ​ $ — ​ $ 79,830 ​ $ 78,748 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential mortgage securities ​ $ 2,017 ​ $ 2,074 ​ ​ 504,167 ​ ​ 501,431 Commercial mortgage securities ​ ​ — ​ ​ — ​ ​ 18,270 ​ ​ 18,256 Asset-backed securities ​ ​ — ​ ​ — ​ ​ 4,750 ​ ​ 4,733 Total Securities ​ $ 2,017 ​ $ 2,074 ​ $ 607,017 ​ $ 603,168 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Held-to-Maturity ​ Available-for-Sale At December 31, 2020 Amortized Cost Fair Value Amortized Cost Fair Value Within one year ​ $ — ​ $ — ​ $ — ​ $ — One to five years ​ ​ — ​ ​ — ​ ​ 37,997 ​ ​ 37,916 Five to ten years ​ ​ — ​ ​ — ​ ​ — ​ ​ — Due after ten years ​ ​ — ​ ​ — ​ ​ — ​ ​ — Total ​ $ — ​ $ — ​ $ 37,997 ​ $ 37,916 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential mortgage securities ​ $ 2,760 ​ $ 2,827 ​ $ 192,163 ​ $ 194,688 Commercial mortgage securities ​ ​ — ​ ​ — ​ ​ 32,589 ​ ​ 33,492 Total Securities ​ $ 2,760 ​ $ 2,827 ​ $ 262,749 ​ $ 266,096 ​ There were no securities pledged as collateral at September 30, 2021 or December 31, 2020. At September 30, 2021 and December 31, 2020, all of the residential mortgage securities and commercial mortgage securities held by the Company were issued by U.S. Government-sponsored entities and agencies. ​ Debt securities with unrealized/unrecognized losses at September 30, 2021 and December 31, 2020, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Less than 12 Months ​ 12 months or more ​ Total ​ ​ Estimated ​ Unrealized ​ Estimated ​ Unrealized ​ Estimated ​ Unrealized At September 30, 2021 Fair Value Losses Fair Value Losses Fair Value Losses Debt securities available for sale: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential mortgage securities ​ $ 315,184 ​ $ (3,859) ​ $ — ​ $ — ​ $ 315,184 ​ $ (3,859) Commercial mortgage securities ​ ​ 14,919 ​ ​ (263) ​ ​ 379 ​ ​ — ​ ​ 15,298 ​ ​ (263) Asset-backed securities ​ ​ 4,733 ​ ​ (17) ​ ​ — ​ ​ — ​ ​ 4,733 ​ ​ (17) U.S. Government agency securities ​ ​ 39,546 ​ ​ (451) ​ ​ 27,685 ​ ​ (312) ​ ​ 67,231 ​ ​ (763) Securities issued by states and political subdivisions in the U.S ​ ​ 11,517 ​ ​ (319) ​ ​ — ​ ​ — ​ ​ 11,517 ​ ​ (319) Total securities available for sale ​ $ 385,899 ​ $ (4,909) ​ $ 28,064 ​ $ (312) ​ $ 413,963 ​ $ (5,221) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Less than 12 Months ​ 12 months or more ​ Total ​ ​ Estimated ​ Unrealized ​ Estimated ​ Unrealized ​ Estimated ​ Unrealized At December 31, 2020 Fair Value Losses Fair Value Losses Fair Value Losses Debt securities available for sale: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential mortgage securities ​ $ 33,734 ​ ​ (74) ​ ​ - ​ ​ - ​ ​ 33,734 ​ ​ (74) Commercial mortgage securities ​ ​ 12,314 ​ ​ (93) ​ ​ 385 ​ ​ (1) ​ ​ 12,699 ​ ​ (94) U.S. Government agency securities ​ ​ 37,916 ​ ​ (81) ​ ​ — ​ ​ — ​ ​ 37,916 ​ ​ (81) Total securities available-for-sale ​ $ 83,964 ​ $ (248) ​ $ 385 ​ $ (1) ​ $ 84,349 ​ $ (249) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ The unrealized losses on securities are primarily due to the changes in market interest rates subsequent to purchase. The Company did not consider these securities to be other-than-temporarily impaired at September 30, 2021 or December 31, 2020 since the decline in market value was attributable to changes in interest rates and not credit quality. In addition, the Company does not intend to sell and does not believe that it is more likely than not that it will be required to sell these investments until there is a full recovery of the unrealized loss, which may be at maturity. As a result, no impairment loss was recognized during the nine months ended September 30, 2021 or for the year ended December 31, 2020. At September 30, 2021 and December 31, 2020, there were no holdings of securities of any one issuer, other than the U.S. Government and its agencies, in an amount greater than 10% of stockholders’ equity.

LOANS AND ALLOWANCE FOR LOAN LO

LOANS AND ALLOWANCE FOR LOAN LOSSES	9 Months Ended
	Sep. 30, 2021
LOANS AND ALLOWANCE FOR LOAN LOSSES
LOANS AND ALLOWANCE FOR LOAN LOSSES	NOTE 5 – LOANS AND ALLOWANCE FOR LOAN LOSSES Loans, net of deferred costs and fees, consist of the following as of September 30, 2021 and December 31, 2020 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2021 ​ December 31, 2020 Real estate ​ ​ ​ ​ ​ ​ Commercial ​ $ 2,378,074 ​ $ 1,887,505 Construction ​ ​ 150,144 ​ ​ 112,290 Multifamily ​ ​ 374,555 ​ ​ 433,239 One-to-four family ​ ​ 61,266 ​ ​ 71,354 Total real estate loans ​ ​ 2,964,039 ​ ​ 2,504,388 ​ ​ ​ ​ ​ ​ ​ Commercial and industrial ​ ​ 611,303 ​ ​ 591,500 Consumer ​ ​ 35,067 ​ ​ 46,431 Total loans ​ ​ 3,610,409 ​ ​ 3,142,319 Deferred fees ​ ​ (7,121) ​ ​ (5,266) Loans, net of deferred fees and unamortized costs ​ ​ 3,603,288 ​ ​ 3,137,053 Allowance for loan losses ​ ​ (38,121) ​ ​ (35,407) Balance at the end of the period ​ $ 3,565,167 ​ $ 3,101,646 ​ Included in commercial and industrial loans at September 30, 2021 and December 31, 2020 are $2.5 million and $3.8 million, respectively, of Paycheck Protection Program (“PPP”) loans. ​ The following tables present the activity in the ALLL by segment for the three and nine months ended September 30, 2021 and 2020. The portfolio segments represent the categories that the Company uses to determine its ALLL (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial ​ Commercial ​ ​ ​ ​ Multi ​ One-to-four ​ ​ ​ ​ ​ ​ Three months ended September 30, 2021 Real Estate & Industrial Construction Family Family ​ Consumer ​ Total Allowance for loan losses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning balance ​ $ 20,299 ​ $ 10,545 ​ $ 1,972 ​ $ 2,618 ​ $ 169 ​ $ 1,774 ​ $ 37,377 Provision/(credit) for loan losses ​ ​ 1,169 ​ ​ (440) ​ ​ 129 ​ ​ (331) ​ ​ (13) ​ ​ (24) ​ ​ 490 Loans charged-off ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ (54) ​ ​ (54) Recoveries ​ ​ — ​ ​ 308 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 308 Total ending allowance balance ​ $ 21,468 ​ $ 10,413 ​ $ 2,101 ​ $ 2,287 ​ $ 156 ​ $ 1,696 ​ $ 38,121 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial ​ Commercial ​ ​ ​ ​ Multi ​ One-to-four ​ ​ ​ ​ ​ ​ Three months ended September 30, 2020 Real Estate & Industrial Construction Family Family ​ Consumer ​ Total Allowance for loan losses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning balance ​ $ 18,690 ​ ​ 9,132 ​ ​ 741 ​ ​ 2,739 ​ ​ 242 ​ ​ 961 ​ ​ 32,505 Provision/(credit) for loan losses ​ ​ (1,611) ​ ​ 2,104 ​ ​ 706 ​ ​ (215) ​ ​ (61) ​ ​ 214 ​ ​ 1,137 Loans charged-off ​ ​ — ​ ​ (82) ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ (82) Recoveries ​ ​ — ​ ​ 54 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 54 Total ending allowance balance ​ $ 17,079 ​ $ 11,208 ​ $ 1,447 ​ $ 2,524 ​ $ 181 ​ $ 1,175 ​ $ 33,614 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial ​ Commercial ​ ​ ​ ​ Multi ​ One-to-four ​ ​ ​ ​ ​ ​ Nine months ended September 30, 2021 Real Estate & Industrial Construction Family Family ​ Consumer ​ Total Allowance for loan losses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning balance ​ $ 17,243 ​ $ 12,123 ​ $ 1,593 ​ $ 2,661 ​ $ 206 ​ $ 1,581 ​ $ 35,407 Provision/(credit) for loan losses ​ ​ 4,225 ​ ​ (1,163) ​ ​ 508 ​ ​ (374) ​ ​ (50) ​ ​ 169 ​ ​ 3,315 Loans charged-off ​ ​ — ​ ​ (855) ​ ​ — ​ ​ — ​ ​ — ​ ​ (54) ​ ​ (909) Recoveries ​ ​ — ​ ​ 308 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 308 Total ending allowance balance ​ $ 21,468 ​ $ 10,413 ​ $ 2,101 ​ $ 2,287 ​ $ 156 ​ $ 1,696 ​ $ 38,121 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial ​ Commercial ​ ​ ​ ​ Multi ​ One-to-four ​ ​ ​ ​ ​ ​ Nine months ended September 30, 2020 Real Estate & Industrial Construction Family Family ​ Consumer ​ Total Allowance for loan losses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning balance ​ $ 15,317 ​ $ 7,070 ​ $ 411 ​ $ 2,453 ​ $ 267 ​ $ 754 ​ $ 26,272 Provision/(credit) for loan losses ​ ​ 1,762 ​ ​ 4,278 ​ ​ 1,036 ​ ​ 71 ​ ​ (86) ​ ​ 632 ​ ​ 7,693 Loans charged-off ​ ​ — ​ ​ (254) ​ ​ — ​ ​ — ​ ​ — ​ ​ (221) ​ ​ (475) Recoveries ​ ​ — ​ ​ 114 ​ ​ — ​ ​ — ​ ​ — ​ ​ 10 ​ ​ 124 Total ending allowance balance ​ $ 17,079 ​ $ 11,208 ​ $ 1,447 ​ $ 2,524 ​ $ 181 ​ $ 1,175 ​ $ 33,614 ​ Net recoveries for the three months ended September 30, 2021 were $254,000. Net charge-offs for the three months ended September 30, 2020 were $28,000. Net charge-offs for the nine months ended September 30, 2021 and 2020 were $601,000 and $351,000, respectively. The following tables present the balance in the ALLL and the recorded investment in loans by portfolio segment based on impairment method as of September 30, 2021 and December 31, 2020 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial ​ Commercial ​ ​ ​ ​ Multi ​ One-to-four ​ ​ ​ ​ ​ ​ At September 30, 2021 Real Estate & Industrial Construction Family Family Consumer Total Allowance for loan losses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Individually evaluated for impairment ​ $ — ​ $ 2,814 ​ $ — ​ $ — ​ $ 33 ​ $ 1,430 ​ $ 4,277 Collectively evaluated for impairment ​ ​ 21,468 ​ ​ 7,599 ​ ​ 2,101 ​ ​ 2,287 ​ ​ 123 ​ ​ 266 ​ ​ 33,844 Total ending allowance balance ​ $ 21,468 ​ $ 10,413 ​ $ 2,101 ​ $ 2,287 ​ $ 156 ​ $ 1,696 ​ $ 38,121 Loans: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Individually evaluated for impairment ​ $ 10,333 ​ $ 3,145 ​ $ — ​ $ — ​ $ 958 ​ $ 2,125 ​ $ 16,561 Collectively evaluated for impairment ​ ​ 2,367,741 ​ ​ 608,158 ​ ​ 150,144 ​ ​ 374,555 ​ ​ 60,308 ​ ​ 32,942 ​ ​ 3,593,848 Total ending loan balance ​ $ 2,378,074 ​ $ 611,303 ​ $ 150,144 ​ $ 374,555 ​ $ 61,266 ​ $ 35,067 ​ $ 3,610,409 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial ​ Commercial ​ ​ ​ ​ Multi ​ One-to-four ​ ​ ​ ​ ​ ​ At December 31, 2020 Real Estate & Industrial Construction Family Family Consumer Total Allowance for loan losses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Individually evaluated for impairment ​ $ — ​ $ 3,662 ​ $ — ​ $ — ​ $ 53 ​ $ 1,203 ​ $ 4,918 Collectively evaluated for impairment ​ ​ 17,243 ​ ​ 8,461 ​ ​ 1,593 ​ ​ 2,661 ​ ​ 153 ​ ​ 378 ​ ​ 30,489 Total ending allowance balance ​ $ 17,243 ​ $ 12,123 ​ $ 1,593 ​ $ 2,661 ​ $ 206 ​ $ 1,581 ​ $ 35,407 Loans: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Individually evaluated for impairment ​ $ 10,345 ​ $ 4,192 ​ $ — ​ $ — ​ $ 999 ​ $ 2,197 ​ $ 17,733 Collectively evaluated for impairment ​ ​ 1,877,160 ​ ​ 587,308 ​ ​ 112,290 ​ ​ 433,239 ​ ​ 70,355 ​ ​ 44,234 ​ ​ 3,124,586 Total ending loan balance ​ $ 1,887,505 ​ $ 591,500 ​ $ 112,290 ​ $ 433,239 ​ $ 71,354 ​ $ 46,431 ​ $ 3,142,319 ​ The following tables present loans individually evaluated for impairment recognized as of September 30, 2021 and December 31, 2020 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unpaid Principal ​ ​ ​ Allowance for Loan ​ At September 30, 2021 Balance Recorded Investment Losses Allocated ​ With an allowance recorded: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ One-to-four family ​ $ 584 ​ $ 454 ​ $ 33 ​ Consumer ​ ​ 2,125 ​ ​ 2,125 ​ ​ 1,430 ​ Commercial & industrial ​ ​ 3,145 ​ ​ 3,145 ​ ​ 2,814 ​ Total ​ $ 5,854 ​ $ 5,724 ​ $ 4,277 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Without an allowance recorded: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ One-to-four family ​ $ 651 ​ $ 504 ​ $ — ​ Commercial real estate ​ ​ 10,333 ​ ​ 10,333 ​ ​ — ​ Commercial & industrial ​ ​ — ​ ​ — ​ ​ — ​ Total ​ $ 10,984 ​ $ 10,837 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unpaid Principal ​ ​ ​ Allowance for Loan ​ At December 31, 2020 Balance Recorded Investment Losses Allocated ​ With an allowance recorded: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ One-to-four family ​ $ 610 ​ $ 480 ​ $ 53 ​ Consumer ​ ​ 2,197 ​ ​ 2,197 ​ ​ 1,203 ​ Commercial & industrial ​ ​ 4,192 ​ ​ 4,192 ​ ​ 3,662 ​ Total ​ $ 6,999 ​ $ 6,869 ​ $ 4,918 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Without an allowance recorded: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ One-to-four family ​ $ 666 ​ $ 519 ​ $ — ​ Commercial real estate ​ ​ 10,345 ​ ​ 10,345 ​ ​ — ​ Commercial & industrial ​ ​ — ​ ​ — ​ ​ — ​ Total ​ $ 11,011 ​ $ 10,864 ​ $ — ​ ​ The recorded investment in loans excludes accrued interest receivable and loan origination fees. The following tables present the average recorded investment and interest income of loans individually evaluated for impairment recognized by class of loans for the three and nine months ended September 30, 2021 and 2020 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Average Recorded ​ Interest Income Three months ended September 30, 2021 Investment Recognized With an allowance recorded: ​ ​ ​ ​ ​ ​ One-to-four family ​ $ 458 ​ $ 4 Consumer ​ ​ 2,103 ​ ​ 26 Commercial & industrial ​ ​ 3,145 ​ ​ — Total ​ $ 5,706 ​ $ 30 ​ ​ ​ ​ ​ ​ ​ Without an allowance recorded: ​ ​ ​ ​ ​ ​ One-to-four family ​ $ 506 ​ $ 7 Commercial real estate ​ ​ 10,335 ​ ​ 2 Commercial & industrial ​ ​ 96 ​ ​ — Total ​ $ 10,937 ​ $ 9 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Average Recorded ​ Interest Income Three months ended September 30, 2020 Investment Recognized With an allowance recorded: ​ ​ ​ ​ ​ ​ One-to-four family ​ $ 488 ​ $ 5 Consumer ​ ​ 2,112 ​ ​ 27 Commercial & industrial ​ ​ 5,497 ​ ​ — Total ​ $ 8,097 ​ $ 32 ​ ​ ​ ​ ​ ​ ​ Without an allowance recorded: ​ ​ ​ ​ ​ ​ One-to-four family ​ $ 524 ​ $ 3 Commercial real estate ​ ​ 363 ​ ​ - Total ​ $ 887 ​ $ 3 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Average Recorded ​ Interest Income Nine months ended September 30, 2021 Investment Recognized With an allowance recorded: ​ ​ ​ ​ ​ ​ One-to-four family ​ $ 466 ​ $ 16 Consumer ​ ​ 2,132 ​ ​ 84 Commercial & industrial ​ ​ 3,407 ​ ​ - Total ​ $ 6,005 ​ $ 100 ​ ​ ​ ​ ​ ​ ​ Without an allowance recorded: ​ ​ ​ ​ ​ ​ One-to-four family ​ $ 511 ​ $ 20 Commercial real estate ​ ​ 10,339 ​ ​ 207 Commercial & industrial ​ ​ 96 ​ ​ - Total ​ $ 10,946 ​ $ 227 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Average Recorded ​ Interest Income Nine months ended September 30, 2020 Investment Recognized With an allowance recorded: ​ ​ ​ ​ ​ ​ One-to-four family ​ $ 494 ​ $ 13 Consumer ​ ​ 1,330 ​ ​ 58 Commercial & industrial ​ ​ 3,272 ​ ​ — Total ​ $ 5,096 ​ $ 71 ​ ​ ​ ​ ​ ​ ​ Without an allowance recorded: ​ ​ ​ ​ ​ ​ One-to-four family ​ $ 1,115 ​ $ 13 Commercial real estate ​ ​ 364 ​ ​ 4 Commercial and industrial ​ ​ 1,188 ​ ​ — Total ​ $ 2,667 ​ $ 17 ​ For a loan to be considered impaired, management determines whether it is probable that the Company will not be able to collect all amounts due according to the contractual terms of the loan agreement. Management applies its normal loan review procedures in making these judgments. Impaired loans include individually classified non-accrual loans and troubled debt restructurings (“TDRs”). Impairment is determined based on the present value of expected future cash flows discounted at the loan’s effective interest rate. For loans that are collateral dependent, the fair value of the collateral is used to determine the fair value of the loan. The fair value of the collateral is determined based on recent appraised values. The fair value of the collateral or present value of expected cash flows is compared to the carrying value to determine if any write-down or specific loan loss allowance allocation is required. For discussion on modification of loans to borrowers impacted by COVID-19, refer to the “COVID-19 Loan Modifications” section herein. The following tables present the recorded investment in non-accrual loans and loans past due over 90 days and still accruing, by class of loans, as of September 30, 2021 and December 31, 2020 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ At September 30, 2021 Non-accrual ​ Loans Past Due Over 90 Days Still Accruing Commercial real estate ​ $ 9,984 ​ $ — Commercial & industrial ​ ​ 3,145 ​ ​ — Consumer ​ ​ 1,674 ​ ​ 573 Total ​ $ 14,803 ​ $ 573 ​ ​ ​ ​ ​ ​ ​ ​ At December 31, 2020 ​ Non-accrual ​ ​ Loans Past Due Over 90 Days Still Accruing Commercial & industrial ​ $ 4,192 ​ $ — Consumer ​ ​ 1,428 ​ ​ 769 Total ​ $ 5,620 ​ $ 769 ​ Interest income that would have been recorded for the three and nine months ended September 30, 2021 and 2020 had non-accrual loans been current according to their original terms was immaterial. The following tables present the aging of the recorded investment in past due loans by class of loans as of September 30, 2021 and December 31, 2020 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 90 ​ ​ ​ ​ ​ ​ ​ ​ 30-59 ​ 60-89 ​ Days and ​ Total past ​ Current ​ ​ At September 30, 2021 Days Days Greater due loans Total Commercial real estate ​ $ — ​ $ — ​ $ 9,984 ​ $ 9,984 ​ $ 2,368,090 ​ $ 2,378,074 Commercial & industrial ​ ​ 92 ​ ​ — ​ ​ 3,145 ​ ​ 3,237 ​ ​ 608,066 ​ ​ 611,303 Construction ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 150,144 ​ ​ 150,144 Multifamily ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 374,555 ​ ​ 374,555 One-to-four family ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 61,266 ​ ​ 61,266 Consumer ​ ​ 43 ​ ​ — ​ ​ 2,247 ​ ​ 2,290 ​ ​ 32,777 ​ ​ 35,067 Total ​ $ 135 ​ $ — ​ $ 15,376 ​ $ 15,511 ​ $ 3,594,898 ​ $ 3,610,409 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 90 ​ ​ ​ ​ ​ ​ ​ ​ 30-59 ​ 60-89 ​ Days and ​ Total past ​ Current ​ ​ At December 31, 2020 Days Days Greater due loans Total Commercial real estate ​ $ 40 ​ $ 9,984 ​ $ — ​ $ 10,024 ​ $ 1,877,481 ​ $ 1,887,505 Commercial & industrial ​ ​ 4,429 ​ ​ 6,400 ​ ​ 4,192 ​ ​ 15,021 ​ ​ 576,479 ​ ​ 591,500 Construction ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 112,290 ​ ​ 112,290 Multifamily ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 433,239 ​ ​ 433,239 One-to-four family ​ ​ 2,908 ​ ​ — ​ ​ — ​ ​ 2,908 ​ ​ 68,446 ​ ​ 71,354 Consumer ​ ​ 112 ​ ​ 32 ​ ​ 2,197 ​ ​ 2,341 ​ ​ 44,090 ​ ​ 46,431 Total ​ $ 7,489 ​ $ 16,416 ​ $ 6,389 ​ $ 30,294 ​ $ 3,112,025 ​ $ 3,142,319 ​ Troubled Debt Restructurings Loans for which the terms have been modified resulting in a concession, and for which the borrower is experiencing financial difficulties, are considered TDRs and classified as impaired. ​ Included in impaired loans at September 30, 2021 and December 31, 2020 were $1.3 million and $1.4 million, respectively, of loans modified as TDRs. The Company allocated specific reserves amounting to $33,000 and $53,000 for TDRs as of September 30, 2021 and December 31, 2020, respectively. There were no loans modified as a TDR during the three and nine months ended September 30, 2021 or 2020. The Company has not committed to lend additional amounts as of September 30, 2021 to customers with outstanding loans that are classified as TDRs. During the nine months ended September 30, 2021 and September 30, 2020 there were no payment defaults on any loans previously identified as TDRs. A loan is considered to be in payment default once it is 90 days contractually past due under the modified terms. In order to determine whether a borrower is experiencing financial difficulty, an evaluation is performed of the probability that the borrower will be in payment default on any of its debt in the foreseeable future without the modification. This evaluation is performed pursuant to the Company’s internal underwriting policy. The following tables present the recorded investment in TDRs by class of loans as of September 30, 2021 and December 31, 2020 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2021 December 31, 2020 Troubled debt restructurings: ​ ​ ​ ​ ​ ​ ​ Real Estate: ​ ​ ​ ​ ​ ​ ​ Commercial real estate ​ $ 349 ​ $ 361 ​ One-to-four family ​ ​ 958 ​ ​ 999 ​ Total troubled debt restructurings ​ $ 1,307 ​ $ 1,360 ​ ​ All TDRs at September 30, 2021 and December 31, 2020 were performing in accordance with their restructured terms. Credit Quality Indicators: The Company categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. Except for one-to-four family loans and consumer loans, the Company analyzes loans individually by classifying the loans as to credit risk at least annually. For one-to-four family loans and consumer loans, the Company evaluates credit quality based on the aging status of the loan, which was previously presented. An analysis is performed on a quarterly basis for loans classified as special mention, substandard or doubtful. The Company uses the following definitions for risk ratings: Special Mention - Substandard - Doubtful - Loans not meeting the criteria above are considered to be pass-rated loans. Based on the most recent analysis performed, the risk category of loans by class of loans as of September 30, 2021 and December 31, 2020 is as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Special ​ ​ ​ ​ ​ ​ ​ ​ ​ At September 30, 2021 Pass Mention Substandard Doubtful ​ ​ Total Commercial real estate ​ $ 2,367,741 ​ $ 349 ​ $ 9,984 ​ $ — ​ $ 2,378,074 Commercial & industrial ​ ​ 603,963 ​ ​ 4,195 ​ ​ — ​ ​ 3,145 ​ ​ 611,303 Construction ​ ​ 150,144 ​ ​ — ​ ​ — ​ ​ — ​ ​ 150,144 Multifamily ​ ​ 374,555 ​ ​ — ​ ​ — ​ ​ — ​ ​ 374,555 Total ​ $ 3,496,403 ​ $ 4,544 ​ $ 9,984 ​ $ 3,145 ​ $ 3,514,076 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Special ​ ​ ​ ​ ​ ​ ​ ​ ​ At December 31, 2020 Pass Mention Substandard Doubtful ​ ​ Total Commercial real estate ​ $ 1,877,160 ​ $ 361 ​ $ 9,984 ​ $ — ​ $ 1,887,505 Commercial & industrial ​ ​ 583,809 ​ ​ 3,499 ​ ​ — ​ ​ 4,192 ​ ​ 591,500 Construction ​ ​ 112,290 ​ ​ — ​ ​ — ​ ​ — ​ ​ 112,290 Multi-family ​ ​ 433,239 ​ ​ — ​ ​ — ​ ​ — ​ ​ 433,239 Total ​ $ 3,006,498 ​ $ 3,860 ​ $ 9,984 ​ $ 4,192 ​ $ 3,024,534 ​ COVID-19 Loan Modifications ​ On March 22, 2020, the banking regulators and the FASB issued guidance to financial institutions who were working with borrowers affected by COVID-19 (“COVID-19 Guidance”). The COVID-19 Guidance indicated that regulatory agencies will not criticize institutions for working with borrowers and will not direct banks to automatically categorize all COVID-19 related loan modifications as TDRs. In addition, the COVID-19 Guidance noted that modification or deferral programs mandated by the federal or a state government related to COVID-19 would not be in the scope of Accounting Standards Codification Subtopic 310-40 – Receivables – Troubled Debt Restructurings by Creditors (“ASC 310-40”), such as state programs that require all institutions within that state to suspend mortgage payments for a specified period. ​ On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) was signed into law. Section 4013 of the CARES Act, “Temporary Relief from Troubled Debt Restructurings,” allows banks to temporarily suspend certain requirements under GAAP related to TDRs for a limited period to account for the effects of COVID-19. A bank may elect to account for modifications on certain loans under Section 4013 of the CARES Act or, if a loan modification is not eligible under Section 4013, a bank may use the criteria in the COVID-19 Guidance to determine when a loan modification is not a TDR in accordance with ASC 310-40. ​ As of September 30, 2021, the Company had 10 loans amounting to $49.1 million, or 1.4% of total loans, that were modified in accordance with the COVID-19 Guidance and the CARES Act. As of September 30, 2021, principal payment deferrals were $39.2 million, or 1.1% of total loans, while full payment deferrals were $10.0 million, or 0.3% of total loans.

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	9 Months Ended
	Sep. 30, 2021
STOCKHOLDERS' EQUITY
STOCKHOLDERS' EQUITY	NOTE 6  — STOCKHOLDERS’ EQUITY During the quarter ended September 30, 2021, the Company raised $172.5 million of capital through the issuance of 2.3 million shares of its common stock at a price of $75 per share, resulting in net proceeds of $162.7 million. The offering increased the Company’s shares of common stock outstanding from ​ At September 30, 2021, the Company also has outstanding 272,636 shares of its Series F, Class B non-voting preferred stock, par value, $0.01 per share. The stock is subordinate and junior to all indebtedness of the Company and to all other series of preferred stock of the Company. The holder of the Series F, Class B preferred stock is entitled to receive ratable dividends only if and when dividends are concurrently declared and payable on the shares of common shares. In connection with the issuance of additional shares of common stock of the Company, the holder of the Series F, Class B Preferred Stock has the right to exchange shares of Series F, Class B preferred stock for shares of the Company’s common stock to allow it to maintain the percent ownership of the outstanding common stock of the Company it owned immediately prior to the issuance of the additional shares of common stock by the Company. ​

EARNINGS PER SHARE

EARNINGS PER SHARE	9 Months Ended
	Sep. 30, 2021
EARNINGS PER SHARE
EARNINGS PER SHARE	NOTE 7 – EARNINGS PER SHARE The computation of basic and diluted earnings per share is shown below (dollars in thousands, except share data): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended September 30, ​ Nine months ended September 30, ​ ​ 2021 2020 2021 2020 Basic ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income per consolidated statements of income ​ $ 16,215 ​ $ 10,783 ​ $ 41,668 ​ $ 27,690 ​ Less: Earnings allocated to participating securities ​ ​ (508) ​ ​ (89) ​ ​ (568) ​ ​ (255) ​ Net income available to common stockholders ​ $ 15,707 ​ $ 10,694 ​ $ 41,100 ​ $ 27,435 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average common shares outstanding including participating securities ​ ​ 8,897,910 ​ ​ 8,291,068 ​ ​ 8,518,639 ​ ​ 8,296,701 ​ Less: Weighted average participating securities ​ ​ (278,937) ​ ​ (68,198) ​ ​ (116,045) ​ ​ (76,499) ​ Weighted average common shares outstanding ​ ​ 8,618,973 ​ ​ 8,222,870 ​ ​ 8,402,594 ​ ​ 8,220,202 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic earnings per common share ​ $ 1.82 ​ $ 1.30 ​ $ 4.89 ​ $ 3.34 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Diluted ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income allocated to common stockholders ​ $ 15,707 ​ $ 10,694 ​ $ 41,100 ​ $ 27,435 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average common shares outstanding for basic earnings per common share ​ ​ 8,618,973 ​ ​ 8,222,870 ​ ​ 8,402,594 ​ ​ 8,220,202 ​ Add: Dilutive effects of assumed exercise of stock options ​ ​ 173,909 ​ ​ 92,269 ​ ​ 161,932 ​ ​ 103,737 ​ Add: Dilutive effects of assumed vesting of performance based restricted stock units ​ ​ 53,571 ​ ​ 78,072 ​ ​ 41,932 ​ ​ 68,116 ​ Add: Dilutive effects of assumed vesting of restricted stock units ​ ​ 46,651 ​ ​ — ​ ​ 29,939 ​ ​ — ​ Average shares and dilutive potential common shares ​ ​ 8,893,104 ​ ​ 8,393,211 ​ ​ 8,636,397 ​ ​ 8,392,055 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Dilutive earnings per common share ​ $ 1.77 ​ $ 1.27 ​ $ 4.76 ​ $ 3.27 ​ ​ All stock options and performance based restricted stock units were considered in computing diluted earnings per common share for the three and nine months ended September 30, 2021 and 2020. 188,906 restricted stock units were not considered in the calculation of diluted earnings per share as their inclusion would be anti-dilutive for the three and nine months ended September 30, 2021. The Company began treating the Class B preferred stock as a participating security during the third quarter of 2021 and the impact was immaterial.

STOCK COMPENSATION PLAN

STOCK COMPENSATION PLAN	9 Months Ended
	Sep. 30, 2021
STOCK COMPENSATION PLAN
STOCK COMPENSATION PLAN	NOTE 8 - STOCK COMPENSATION PLAN Equity Incentive Plan On May 28, 2019, the Company’s 2019 Equity Incentive Plan (the “2019 EIP”) was approved by stockholders of the Company. Under the 2019 EIP, the maximum number of shares of stock that may be delivered to participants in the form of restricted stock, restricted stock units and stock options, including incentive stock options (“ISO”) and non-qualified stock options, is 340,000, plus any awards that are forfeited under the 2009 Equity Incentive Plan (the “2009 Plan”) after the effective date of the 2019 EIP, which was May 28, 2019. Under the 2009 Plan, there are 468,382 shares that are subject to outstanding and/or unexercised awards that have been granted and, if forfeited after May 28, 2019, such shares will be available to be granted under the 2019 EIP. The 628,719 shares that were unauthorized and unissued under the 2009 Plan have expired and may not be granted (and such shares of stock did not roll over to the 2019 EIP). Stock Options Under the terms of the 2019 EIP, a stock option cannot have an exercise price that is less than 100% of the fair market value of the shares covered by the stock option on the date of grant. In the case of an ISO granted to a 10% stockholder, the exercise price shall not be less than 110% of the fair market value of the shares covered by the stock option on the date of grant. In no event shall the exercise period exceed ten years from the date of grant of the option, except, in the case of an ISO granted to a 10% stockholder, the exercise period shall not exceed five years from the date of grant. The 2019 EIP contains a double trigger change in control feature, providing for an acceleration of vesting upon an involuntary termination of employment simultaneous with or following a change in control. The fair value of each stock option award is estimated on the date of grant using a closed form option valuation (Black-Scholes) model. Expected volatilities based on historical volatilities of the Company’s common stock are not significant. The expected term of options granted is based on historical data and represents the period of time that options granted are expected to be outstanding, which takes into account that the options are not transferable. The risk-free interest rate for the expected term of the option is based on the U.S. Treasury yield curve in effect at the time of the grant. A summary of the status of the Company’s stock options and the changes during the nine months ended September 30, 2021 is presented below: ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine Months Ended September 30, 2021 ​ Number of Weighted Average ​ ​ Options ​ Exercise Price ​ ​ ​ ​ ​ ​ Outstanding, beginning of period ​ 231,000 ​ $ 18.00 Granted ​ — ​ ​ — Exercised ​ — ​ ​ — Cancelled/forfeited ​ — ​ ​ — Outstanding, end of period ​ 231,000 ​ $ 18.00 Options vested and exercisable at end of period ​ 231,000 ​ $ 18.00 ​ ​ ​ ​ ​ ​ Weighted average remaining contractual life (years) ​ ​ ​ ​ 2.63 ​ There was no unrecognized compensation cost related to stock options at September 30, 2021 or December 31, 2020. There was no compensation cost related to stock options for the nine months ended September 30, 2021 or 2020. The following table summarizes information about stock options outstanding at September 30, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ At September 30, 2021 Range of Average ​ ​ ​ Weighted Average ​ Weighted Average ​ Weighted Average Exercise Prices Number Outstanding Remaining Contractual Life Exercise Price ​ Intrinsic Price per Share $10 – 30 ​ 231,000 ​ 2.63 ​ $ 18.00 ​ $ 66.30 ​ Restricted Stock Awards and Restricted Stock Units The Company issued restricted stock awards under the 2009 Plan and restricted stock units under the 2019 EIP (collectively, “restricted stock grants”) to certain key personnel. Each restricted stock grant vests based on the vesting schedule outlined in the restricted stock grant agreement. Restricted stock grants are subject to forfeiture if the holder is not employed by the Company on the vesting date. In the first quarter of 2021, 78,582 restricted stock units were issued to certain key personnel. One-third of these shares vest each year for three years beginning on March 1, 2022. In the second and third quarters of 2021, no restricted stock units were issued. Total compensation cost that has been charged against income for restricted stock grants was $1.1 million and $277,000 for the three months ended September 30, 2021 and 2020, respectively. Total compensation cost that has been charged against income for restricted stock grants was $2.3 million and $1.1 million for the nine months ended September 30, 2021 and 2020, respectively. As of September 30, 2021, there was $3.9 million of total unrecognized compensation expense related to the restricted stock awards. The cost is expected to be recognized over a weighted-average period of 2.07 years. On January 1, 2019, 38,900 restricted shares were granted to members of the Board of Directors in lieu of retainer fees for three years of service. One-third of these shares vest each year for three years from December 31, 2019. In the fourth quarter of 2020, 1,785 shares were granted to a new member of the Board of Directors, all of which will vest in the fourth quarter of 2021. Total expense for these awards was $100,000 for both the three months ended September 30, 2021 and 2020. Total expense for these awards was $300,000 for the nine months ended September 30, 2021 and 2020. As of September 30, 2021 there was $100,000 of unrecognized expense related to these grants. The remaining unamortized cost is expected to be recognized over a weighted-average period of 0.25 years. The following table summarizes the changes in the Company’s restricted stock grants for the nine months ended September 30, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine Months Ended September 30, 2021 ​ ​ ​ ​ ​ Weighted Average ​ ​ Number of Shares Grant Date Fair Value ​ ​ ​ ​ ​ ​ ​ ​ Outstanding, beginning of period ​ 76,289 ​ $ 38.66 ​ Granted ​ 168,582 ​ ​ 57.23 ​ Forfeited ​ (10,200) ​ ​ 48.09 ​ Vested ​ (14,489) ​ ​ 30.45 ​ Outstanding at end of period ​ 220,182 ​ $ 52.98 ​ ​ The total fair value of shares vested was approximately $441,197 for the nine months ended September 30, 2021. Performance Based Stock Units During the first quarter of 2018, the Company established a long-term incentive award program under the 2009 Plan. For each award, Performance Restricted Share Units (“PRSUs”) were eligible to be earned over a three-year performance period based on personal performance and the Company’s relative performance, in each case, as compared to certain measurement goals that were established at the onset of the performance period. These awards were accounted for in accordance with guidance prescribed in ASC Topic 718, Compensation – Stock Compensation. ​ During the second quarter of 2021, the Company established a long-term incentive award program under the 2019 Plan. The PRSUs are earned ratably over a three-year performance period based on personal performance and the Company’s relative performance, in each case, as compared to certain measurement goals that were established at the onset of the performance period. These awards are accounted for in accordance with the guidance prescribed in ASC Topic 718. ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2021 ​ ​ ​ ​ Weighted average service inception date fair value of award shares ​ $ 5,721,300 Minimum aggregate share payout ​ ​ 9,000 Maximum aggregate share payout ​ ​ 90,000 Likely aggregate share payout ​ ​ 90,000 ​ Total compensation cost that has been charged against income for these programs was $481,000 and $358,000 for the three months ended September 30, 2021 and 2020, respectively. Total compensation cost that has been charged against income for these programs was $1.4 million and $1.1 million for the nine months ended September 30, 2021 and 2020, respectively.

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	9 Months Ended
	Sep. 30, 2021
FAIR VALUE OF FINANCIAL INSTRUMENTS
FAIR VALUE OF FINANCIAL INSTRUMENTS	NOTE 9 - FAIR VALUE OF FINANCIAL INSTRUMENTS The Company uses fair value measurements to record fair value adjustments to certain assets and to determine fair value disclosures. The Company did not have any liabilities that were measured at fair value at September 30, 2021 and December 31, 2020. AFS securities are recorded at fair value on a recurring basis. Additionally, from time to time, the Company may be required to record at fair value other assets or liabilities on a non-recurring basis, such as certain impaired loans. These non-recurring fair value adjustments generally involve the write-down of individual assets due to impairment losses. Accounting guidance establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard describes three levels of inputs that may be used to measure fair value: Level 1: Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date. Level 2: Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data. Level 3: Significant unobservable inputs that reflect a reporting entity’s own assumptions about the assumptions that market participants would use in pricing an asset or liability. Assets and Liabilities Measured on a Recurring Basis Assets measured on a recurring basis are limited to the Company’s AFS securities portfolio, equity investments and an interest rate cap derivative contract. The AFS portfolio is carried at estimated fair value with any unrealized gains and losses, net of taxes, reported as accumulated other comprehensive income or loss in shareholders’ equity. Equity investments are carried at estimated fair value with changes in fair value reported as “unrealized gain/(loss)” on the statements of operations. The interest rate cap derivative contract is carried at estimated fair value with changes in fair value reported as accumulated other comprehensive income or loss in shareholders’ equity. The fair values for substantially all of these assets are obtained monthly from an independent nationally recognized pricing service. On a quarterly basis, the Company assesses the reasonableness of the fair values obtained for the AFS portfolio by reference to a second independent nationally recognized pricing service. Based on the nature of these securities, the Company’s independent pricing service provides prices which are categorized as Level 2 since quoted prices in active markets for identical assets are generally not available for the majority of securities in the Company’s portfolio. Various modeling techniques are used to determine pricing for the Company’s mortgage-backed securities, including option pricing and discounted cash flow models. The inputs to these models include benchmark yields, reported trades, broker/dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers and reference data. On an annual basis, the Company obtains the models, inputs and assumptions utilized by its pricing service and reviews them for reasonableness. There are no liabilities that are measured on a recurring basis. Assets measured at fair value on a recurring basis are summarized below (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurement using: ​ ​ ​ ​ ​ Quoted Prices ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ in Active ​ Significant ​ ​ ​ ​ ​ ​ ​ ​ Markets ​ Other ​ Significant ​ ​ Carrying ​ For Identical ​ Observable ​ Unobservable ​ Amount Assets (Level 1) Inputs (Level 2) Inputs (Level 3) At September 30, 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential mortgage-backed securities ​ $ 501,431 ​ $ — ​ $ 501,431 ​ $ — Commercial mortgage-backed securities ​ ​ 18,256 ​ ​ — ​ ​ 18,256 ​ ​ — Asset-backed securities ​ ​ 4,733 ​ ​ — ​ ​ 4,733 ​ ​ ​ U.S. Government agency ​ ​ 67,231 ​ ​ — ​ ​ 67,231 ​ ​ ​ Securities issued by states and political subdivisions in the U.S ​ ​ 11,517 ​ ​ — ​ ​ 11,517 ​ ​ ​ CRA Mutual Fund ​ ​ 2,289 ​ ​ 2,289 ​ ​ — ​ ​ — Derivative assets - interest rate cap ​ ​ ​ ​ — ​ ​ 2,086 ​ ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurement using: ​ ​ ​ ​ ​ Quoted Prices ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ in Active ​ Significant ​ ​ ​ ​ ​ ​ ​ ​ Markets ​ Other ​ Significant ​ ​ Carrying ​ For Identical ​ Observable ​ Unobservable ​ Amount Assets (Level 1) Inputs (Level 2) Inputs (Level 3) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ At December 31, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential mortgage securities ​ $ 194,688 ​ $ — ​ $ 194,688 ​ $ — Commercial mortgage securities ​ ​ 33,492 ​ ​ — ​ ​ 33,492 ​ ​ — U.S. Government agency securities ​ ​ 37,916 ​ ​ — ​ ​ 37,916 ​ ​ — CRA Mutual Fund ​ ​ 2,313 ​ ​ 2,313 ​ ​ — ​ ​ — Derivative assets - interest rate cap ​ ​ 770 ​ ​ — ​ ​ 770 ​ ​ — ​ There were no transfers between Level 1 and Level 2 during the three months ended September 30, 2021 and 2020. There were no material assets measured at fair value on a non-recurring basis at September 30, 2021 or December 31, 2020. The Company has engaged an independent pricing service provider to provide the fair values of its financial assets and liabilities measured at amortized cost. This provider follows FASB’s exit pricing guidelines, as required by ASU 2016-01, when calculating fair market values. ​ Carrying amounts and estimated fair values of financial instruments carried at amortized cost at September 30, 2021 and December 31, 2020 were as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurement Using: ​ ​ ​ ​ ​ ​ ​ ​ Quoted Prices ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ in Active ​ Significant ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Markets ​ Other ​ Significant ​ ​ ​ ​ ​ Carrying ​ For Identical ​ Observable ​ Unobservable ​ Total Fair At September 30, 2021 Amount Assets (Level 1) Inputs (Level 2) Inputs (Level 3) Value Financial Assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and due from banks ​ $ 32,660 ​ $ 32,660 ​ $ — ​ $ — ​ $ 32,660 Overnight deposits ​ ​ 1,824,820 ​ ​ 1,824,820 ​ ​ — ​ ​ — ​ ​ 1,824,820 Securities available for sale ​ ​ 603,168 ​ ​ — ​ ​ 603,168 ​ ​ — ​ ​ 603,168 Securities held to maturity ​ ​ 2,017 ​ ​ — ​ ​ 2,074 ​ ​ — ​ ​ 2,074 Equity investments ​ ​ 2,289 ​ ​ 2,289 ​ ​ — ​ ​ — ​ ​ 2,289 Loans, net ​ ​ 3,565,167 ​ ​ — ​ ​ — ​ ​ 3,592,347 ​ ​ 3,592,347 Other investments ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ FRB Stock ​ ​ 7,430 ​ ​ N/A ​ ​ N/A ​ ​ N/A ​ ​ N/A FHLB Stock ​ ​ 3,070 ​ ​ N/A ​ ​ N/A ​ ​ N/A ​ ​ N/A Disability Fund ​ ​ 1,000 ​ ​ — ​ ​ 1,000 ​ ​ — ​ ​ 1,000 Time deposits at banks ​ ​ 498 ​ ​ 498 ​ ​ — ​ ​ — ​ ​ 498 Interest rate cap derivative ​ ​ 2,086 ​ ​ — ​ ​ 2,086 ​ ​ — ​ ​ 2,086 Accrued interest receivable ​ ​ 13,504 ​ ​ — ​ ​ 717 ​ ​ 12,787 ​ ​ 13,504 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Financial liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-interest-bearing demand deposits ​ $ 2,803,823 ​ $ 2,803,823 ​ $ — ​ $ — ​ $ 2,803,823 Money market and savings deposits ​ ​ 2,571,707 ​ ​ 2,571,707 ​ ​ — ​ ​ — ​ ​ 2,571,707 Time deposits ​ ​ 82,039 ​ ​ — ​ ​ 82,610 ​ ​ — ​ ​ 82,610 Trust preferred securities payable ​ ​ 20,620 ​ ​ — ​ ​ — ​ ​ 20,002 ​ ​ 20,002 Subordinated debt, net of issuance cost ​ ​ 24,698 ​ ​ — ​ ​ 25,438 ​ ​ — ​ ​ 25,438 Accrued interest payable ​ ​ 448 ​ ​ 3 ​ ​ 337 ​ ​ 108 ​ ​ 448 Secured Borrowings ​ ​ 35,559 ​ ​ 0 ​ ​ 35,559 ​ ​ 0 ​ ​ 35,559 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurement Using: ​ ​ ​ ​ ​ ​ ​ ​ Quoted Prices ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ in Active ​ Significant ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Markets ​ Other ​ Significant ​ ​ ​ ​ ​ Carrying ​ For Identical ​ Observable ​ Unobservable ​ Total Fair At December 31, 2020 Amount Assets (Level 1) Inputs (Level 2) Inputs (Level 3) Value Financial Assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and due from banks ​ $ 8,692 ​ $ 8,692 ​ $ — ​ $ — ​ $ 8,692 Overnight deposits ​ ​ 855,613 ​ ​ 855,613 ​ ​ — ​ ​ — ​ ​ 855,613 Securities available for sale ​ ​ 266,096 ​ ​ — ​ ​ 266,096 ​ ​ — ​ ​ 266,096 Securities held to maturity ​ ​ 2,760 ​ ​ — ​ ​ 2,827 ​ ​ — ​ ​ 2,827 Equity investments ​ ​ 2,313 ​ ​ 2,313 ​ ​ — ​ ​ — ​ ​ 2,313 Loans, net ​ ​ 3,101,646 ​ ​ — ​ ​ — ​ ​ 3,094,998 ​ ​ 3,094,998 Other investments ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ FRB Stock ​ ​ 7,381 ​ ​ N/A ​ ​ N/A ​ ​ N/A ​ ​ N/A FHLB Stock ​ ​ 2,718 ​ ​ N/A ​ ​ N/A ​ ​ N/A ​ ​ N/A Disability Fund ​ ​ 1,000 ​ ​ — ​ ​ 1,000 ​ ​ — ​ ​ 1,000 CRA - CD ​ ​ 498 ​ ​ 498 ​ ​ — ​ ​ — ​ ​ 498 Interest rate cap derivative ​ ​ 770 ​ ​ — ​ ​ 770 ​ ​ — ​ ​ 770 Accrued interest receivable ​ ​ 13,249 ​ ​ — ​ ​ 414 ​ ​ 12,835 ​ ​ 13,429 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Financial liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-interest-bearing demand deposits ​ $ 1,726,135 ​ $ 1,726,135 ​ $ — ​ $ — ​ $ 1,726,135 Money market and savings deposits ​ ​ 2,011,409 ​ ​ 2,011,409 ​ ​ — ​ ​ — ​ ​ 2,011,409 Time deposits ​ ​ 92,062 ​ ​ — ​ ​ 93,157 ​ ​ — ​ ​ 93,157 Trust preferred securities payable ​ ​ 20,620 ​ ​ — ​ ​ — ​ ​ 20,011 ​ ​ 20,011 Subordinated debt, net of issuance cost ​ ​ 24,657 ​ ​ — ​ ​ 25,375 ​ ​ — ​ ​ 25,375 Accrued interest payable ​ ​ 712 ​ ​ 7 ​ ​ 591 ​ ​ 114 ​ ​ 712 Secured borrowing ​ ​ 36,964 ​ ​ — ​ ​ 36,964 ​ ​ — ​ ​ 36,964 ​

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	9 Months Ended
	Sep. 30, 2021
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	NOTE 10 - ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The following table shows the amounts reclassified out of each component of accumulated other comprehensive income for the gain on the sale and calls of securities during the three and nine months ended September 30, 2021 and 2020 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended September 30, ​ Nine months ended September 30, ​ ​ 2021 ​ 2020 2021 2020 Proceeds ​ $ — ​ $ 25,000 ​ $ 43,241 ​ $ 141,422 Gross gains ​ $ — ​ $ — ​ $ 609 ​ $ 3,286 Tax impact ​ $ — ​ $ — ​ $ (195) ​ $ (1,036) ​

FINANCIAL INSTRUMENTS WITH OFF-

FINANCIAL INSTRUMENTS WITH OFF-BALANCE-SHEET RISK	9 Months Ended
	Sep. 30, 2021
FINANCIAL INSTRUMENTS WITH OFF-BALANCE-SHEET RISK
FINANCIAL INSTRUMENTS WITH OFF-BALANCE-SHEET RISK	NOTE 11 - FINANCIAL INSTRUMENTS WITH OFF-BALANCE-SHEET RISK The Company is a party to financial instruments with off-balance-sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit. These instruments involve, to varying degrees, elements of credit and interest rate risk in excess of the amount recognized in the financial statements. The Company’s exposure to credit loss in the event of non-performance by the other party to the financial instrument for commitments to extend credit is represented by the contractual amount of those instruments. The Company uses the same credit policies in making commitments and conditional obligations as it does for on-balance-sheet instruments. The following off-balance-sheet financial instruments, whose contract amounts represent credit risk, are outstanding at September 30, 2021 and December 31, 2020 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ At September 30, 2021 ​ At December 31, 2020 ​ ​ ​ ​ Variable ​ ​ ​ Variable ​ Fixed Rate Rate Fixed Rate Rate Undrawn lines of credit ​ $ 41,217 ​ $ 316,594 ​ $ 19,024 ​ $ 266,696 Letters of credit ​ ​ 51,534 ​ ​ — ​ ​ 34,264 ​ ​ — Total ​ $ 92,751 ​ $ 316,594 ​ $ 53,288 ​ $ 266,696 ​ A commitment to extend credit is a legally binding agreement to lend to a customer as long as there is no violation of any condition established in the contract. Commitments generally expire within two years. At September 30, 2021, the Company’s fixed rate loan commitments had interest rates ranging from 3.0% to 5.6% and the Company’s variable rate loan commitments had interest rates ranging from 1.8% to 7.3%, with a maturity of one year or more. At December 31, 2020, the Company’s fixed rate loan commitments had interest rates ranging from 3.0% to 5.6% and the Company’s variable rate loan commitments had interest rates ranging from 2.0% to 8.3%, with a maturity of one year or more. The amount of collateral obtained, if any, by the Company upon extension of credit is based on management’s credit evaluation of the borrower. Collateral held varies but may include mortgages on commercial and residential real estate, security interests in business assets, equipment, deposit accounts with the Company or other financial institutions and securities. The Company’s stand-by letters of credit amounted to $51.5 million and $34.3 million as of September 30, 2021 and December 31, 2020, respectively. The Company’s stand-by letters of credit are collateralized by interest-bearing accounts of $37.3 million and $26.9 million as of September 30, 2021 and December 31, 2020, respectively. The stand-by letters of credit mature within one year.

REVENUE FROM CONTRACTS WITH CUS

REVENUE FROM CONTRACTS WITH CUSTOMERS	9 Months Ended
	Sep. 30, 2021
REVENUE FROM CONTRACTS WITH CUSTOMERS
REVENUE FROM CONTRACTS WITH CUSTOMERS	NOTE 12 – REVENUE FROM CONTRACTS WITH CUSTOMERS All of the Company’s revenue from contracts with customers that are in the scope of ASU 2014-09, Revenue from Contracts with Customers ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended September 30, ​ Nine months ended September 30, ​ ​ 2021 2020 ​ 2021 2020 ​ Service charges on deposit accounts $ 1,671 ​ $ 863 ​ $ 4,085 ​ $ 2,747 ​ Global Payments Group revenue 3,615 ​ 2,572 ​ 10,509 ​ 6,301 ​ Other service charges and fees 614 ​ 202 ​ 1,484 ​ 1,238 ​ Total $ 5,900 ​ $ 3,637 ​ $ 16,078 ​ $ 10,286 ​ ​ A description of the Company’s revenue streams accounted for under the accounting guidance is as follows: Global payment group revenue: The Company offers corporate cash management and retail banking services and, through its global payments business, provides Banking-as-a-Service to its fintech partners. The Company earns initial set-up fees for these programs as well as fees for transactions processed. The Company receives transaction data at the end of each month for services rendered, at which time revenue is recognized. ​ Service charges on deposit accounts: ​ Other service charges:

DERIVATIVES

DERIVATIVES	9 Months Ended
	Sep. 30, 2021
DERIVATIVES
DERIVATIVES	NOTE 13 – DERIVATIVES In the first quarter of 2020, the Company entered into an interest rate cap derivative contract (“interest rate cap” or “contract”) as a part of its asset liability management strategy to help manage its interest rate risk position. The notional amount of the interest rate cap does not represent the amount exchanged by the parties. The amount exchanged is determined by reference to the notional amount and the other terms of the contract. The interest rate subject to the cap is 30-day LIBOR. The interest rate cap had a notional amount of $300.0 million as of September 30, 2021 and was designated as a cash flow hedge of certain deposit liabilities of the Company. The hedge was determined to be highly effective during the three and nine months ended September 30, 2021. The Company expects the hedge to remain highly effective during the remaining term of the contract. The following table reflects the notional amount and fair value (included in the “Prepaid expenses and other assets” line item on the statements of financial condition) at September 30, 2021 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ Notional Amount ​ ​ Fair Value Derivatives designated as hedges: ​ ​ ​ ​ ​ Interest rate caps related to customer deposits $ 300,000 ​ $ 2,086 ​ The effect of cash flow hedge accounting on accumulated other comprehensive income for the nine months ended September 30, 2021, is as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amount of Loss Recognized in OCI, net of tax ​ ​ Location of Gain (Loss) Reclassified from OCI into Income ​ ​ Amount of Gain (Loss) Reclassified from OCI into Income ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate caps related to customer deposits $ 1,069 ​ $ N/A ​ $ — ​

SUMMARY OF RECENT ACCOUNTING _2

SUMMARY OF RECENT ACCOUNTING PRONOUNCEMENTS (Policies)	9 Months Ended
	Sep. 30, 2021
SUMMARY OF RECENT ACCOUNTING PRONOUNCEMENTS
ORGANIZATION	Metropolitan Bank Holding Corp., a New York corporation (the “Company”), is a bank holding company whose principal activity is the ownership and management of Metropolitan Commercial Bank (the “Bank”), its wholly-owned subsidiary. The Company’s primary market is the New York metropolitan area. The Company provides a broad range of business, commercial and retail banking products and services to small businesses, middle-market enterprises, public entities and affluent individuals. The Company’s primary lending products are commercial real estate loans, multi-family loans and commercial and industrial loans. Substantially all loans are secured by specific items of collateral including business assets, consumer assets, and commercial and residential real estate. Commercial loans are expected to be repaid from cash flows from operations of businesses. The Company’s primary deposit products are checking, savings, and term deposit accounts, and its deposit accounts are insured by the FDIC under the maximum amounts allowed by law. In addition to traditional commercial banking products, the Company offers corporate cash management and retail banking services and, through its Global Payments Group (“global payments business”), provides Banking-as-a-Service to its fintech partners, which includes serving as an issuing bank for third-party managed debit card programs nationwide and providing other financial infrastructure, including cash settlement and custodian deposit services. The Company and the Bank are subject to the regulations of certain state and federal agencies and, accordingly, are periodically examined by those regulatory authorities. The Company’s business is affected by state and federal legislation and regulations.
BASIS OF PRESENTATION	The accounting and reporting policies of the Company conform with U.S. generally accepted accounting principles (“GAAP”) and predominant practices within the U.S. banking industry. All intercompany balances and transactions have been eliminated. The Unaudited Consolidated Financial Statements, which include the accounts of the Company and the Bank, have been prepared in accordance with GAAP for interim financial information and with the instructions to Form 10-Q, Article 8 of Regulation S-X and predominant practices within the U.S. banking industry. Certain information and note disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to the rules and regulations of the SEC. The Unaudited Consolidated Financial Statements reflect all normal recurring adjustments that are, in the opinion of management, necessary for a fair presentation of the results for the interim periods presented. In preparing the interim financial statements in conformity with GAAP, management has made estimates and assumptions based on available information. These estimates and assumptions affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expense during the reported periods, and actual results could differ from those estimated. Information available which could affect these judgments include, but are not limited to, changes in interest rates, changes in the performance of the economy, and changes in the financial condition of borrowers. Some items in the prior year financial statements were reclassified to conform to the current presentation. Reclassifications had no effect on prior-year net income or shareholders’ equity. The results of operations for the three and nine months ended September 30, 2021 are not necessarily indicative of the results of operations that may be expected for the entire fiscal year or for any other period. The unaudited consolidated financial statements presented in this report should be read in conjunction with the Company’s audited consolidated financial statements and notes to the audited consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020 as filed with the SEC.
SUMMARY OF RECENT ACCOUNTING PRONOUNCEMENTS	Pursuant to the Tax Cuts and Jobs Act (“JOBS Act”), an Emerging Growth Company (“EGC”) is provided the option to adopt new or revised accounting standards that may be issued by the FASB or the Securities and Exchange Commission either (i) within the same periods as those otherwise applicable to non-EGCs or (ii) within the same time periods as private companies. The Company elected delayed effective dates of recently issued accounting standards. As permitted by the JOBS Act, so long as it qualifies as an EGC, the Company will take advantage of some of the reduced regulatory and reporting requirements that are available to it, including, but not limited to, not being required to comply with the auditor attestation requirements of Section 404(b) of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation, and exemptions from the requirements of holding non-binding advisory votes on executive compensation and golden parachute payments. The Company is likely to lose its EGC status on December 31, 2022, since that would be the last day of the fiscal year of the Company following the fifth anniversary of the date of the first sale of common equity securities of the Company pursuant to an effective registration statement under the Securities Act of 1933. ​ In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842), which requires companies that lease assets to recognize on their balance sheets the assets and liabilities generated by contracts longer than a year. Under ASU 2016-02, the Company will recognize a right-of-use asset and a lease obligation liability on the consolidated statement of financial condition, which will increase the Company’s assets and liabilities. The Company is required to implement ASU 2016-02 by December 31, 2022, and is currently evaluating the potential impact on its consolidated financial statements. The Company has not yet adopted ASU No. 2016-13, Financial Instruments – Credit Losses, which requires the measurement of all current expected credit losses (“CECL”) for financial assets. The Company is required to implement CECL by December 31, 2022. The Company is currently developing CECL models and evaluating its potential impact on the Company’s Allowance for Loan and Lease Losses (“ALLL”). ​ In January 2017, the FASB issued ASU 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment, which eliminates the second step in the goodwill impairment test which requires an entity to determine the implied fair value of the reporting unit’s goodwill. Instead, an entity should recognize an impairment loss if the carrying value of the net assets assigned to the reporting unit exceeds the fair value of the reporting unit, with the impairment loss not to exceed the amount of goodwill allocated to the reporting unit. The standard was effective for the Company beginning January 1, 2021, and did not have a material impact on its consolidated financial statements. In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting, which provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The amendments in this ASU apply only to contracts, hedging relationships, and other transactions that reference the London Inter-Bank Offered Rate (“LIBOR”) or another reference rate expected to be discontinued because of reference rate reform. The amendments in this ASU are effective for all entities as of March 12, 2020 through December 31, 2022. An entity may elect to apply the amendments for contract modifications at the instrument level as of any date from the beginning of an interim period that includes or is subsequent to March 12, 2020, or prospectively from a date within an interim period that includes or is subsequent to March 12, 2020, up to the date that the financial statements are available to be issued. In January 2021 the FASB issued ASU 2021-01. The amendments in this ASU clarify that certain optional expedients and exceptions in Topic 848 for contract modifications and hedge accounting apply to derivatives that are affected by the discounting transition. Specifically, certain provisions in Topic 848, if elected by an entity, apply to derivative instruments that use an interest rate for margining, discounting, or contract price alignment that is modified as a result of reference rate reform. Management has established a working group to evaluate the impact of the transition from LIBOR on the Company and its consolidated financial statements. The working group has developed an inventory of impacted contracts and client relationships and is in the process of assessing LIBOR alternatives and how such alternatives may be implemented.

INVESTMENT SECURITIES (Tables)

INVESTMENT SECURITIES (Tables)	9 Months Ended
	Sep. 30, 2021
INVESTMENT SECURITIES
Schedule of amortized cost and fair value of securities available-for-sale and securities held-to-maturity	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross ​ Gross ​ ​ ​ ​ ​ ​ ​ ​ Unrealized/ ​ Unrealized/ ​ ​ ​ ​ ​ Amortized ​ Unrecognized ​ Unrecognized ​ ​ ​ At September 30, 2021 Cost Gains Losses Fair Value Debt securities available for sale: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential mortgage securities ​ $ 504,167 ​ $ 1,123 ​ $ (3,859) ​ $ 501,431 Commercial mortgage securities ​ ​ 18,270 ​ ​ 249 ​ ​ (263) ​ ​ 18,256 Asset-backed securities ​ ​ 4,750 ​ ​ — ​ ​ (17) ​ ​ 4,733 U.S. Government agency ​ ​ 67,994 ​ ​ — ​ ​ (763) ​ ​ 67,231 Securities issued by states and political subdivisions in the U.S ​ ​ 11,836 ​ ​ — ​ ​ (319) ​ ​ 11,517 Total securities available-for-sale ​ $ 607,017 ​ $ 1,372 ​ $ (5,221) ​ $ 603,168 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Held-to-maturity securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential mortgage securities ​ $ 2,017 ​ ​ 57 ​ ​ — ​ ​ 2,074 Total securities held-to-maturity ​ $ 2,017 ​ $ 57 ​ $ — ​ $ 2,074 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity investments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ CRA Mutual Fund ​ $ 2,320 ​ ​ — ​ ​ (31) ​ ​ 2,289 Total non-trading equity investment securities ​ $ 2,320 ​ $ — ​ $ (31) ​ $ 2,289 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross ​ Gross ​ ​ ​ ​ ​ ​ ​ ​ Unrealized/ ​ Unrealized/ ​ ​ ​ ​ ​ Amortized ​ Unrecognized ​ Unrecognized ​ ​ ​ At December 31, 2020 Cost Gains Losses Fair Value Debt securities available for sale: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential mortgage securities ​ $ 192,163 ​ $ 2,599 ​ $ (74) ​ $ 194,688 Commercial mortgage securities ​ ​ 32,589 ​ ​ 997 ​ ​ (94) ​ ​ 33,492 U.S. Government agency ​ ​ 37,997 ​ ​ — ​ ​ (81) ​ ​ 37,916 Total securities available-for-sale ​ $ 262,749 ​ $ 3,596 ​ $ (249) ​ $ 266,096 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Held-to-maturity securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential mortgage securities ​ ​ 2,760 ​ ​ 67 ​ ​ — ​ ​ 2,827 Total securities held-to-maturity ​ $ 2,760 ​ $ 67 ​ $ — ​ $ 2,827 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity investments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ CRA Mutual Fund ​ ​ 2,299 ​ ​ 14 ​ ​ — ​ ​ 2,313 Total non-trading equity investment securities ​ $ 2,299 ​ $ 14 ​ $ — ​ $ 2,313 ​
Schedule of proceeds from sales and calls of securities and associated gains	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended September 30, ​ Nine months ended September 30, ​ ​ 2021 ​ 2020 2021 2020 Proceeds ​ $ — ​ $ 25,000 ​ $ 43,241 ​ $ 141,422 Gross gains ​ $ — ​ $ — ​ $ 609 ​ $ 3,286 Tax impact ​ $ — ​ $ — ​ $ (195) ​ $ (1,036)
Schedule of amortized cost and fair value of debt securities classified by contractual maturity	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Held-to-Maturity ​ Available-for-Sale At September 30, 2021 Amortized Cost Fair Value Amortized Cost Fair Value Within one year ​ $ — ​ $ — ​ $ — ​ $ — One to five years ​ ​ — ​ ​ — ​ ​ 47,994 ​ ​ 47,475 Five to ten years ​ ​ — ​ ​ — ​ ​ 15,000 ​ ​ 14,832 After ten years ​ ​ — ​ ​ — ​ ​ 16,836 ​ ​ 16,441 Total ​ $ — ​ $ — ​ $ 79,830 ​ $ 78,748 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential mortgage securities ​ $ 2,017 ​ $ 2,074 ​ ​ 504,167 ​ ​ 501,431 Commercial mortgage securities ​ ​ — ​ ​ — ​ ​ 18,270 ​ ​ 18,256 Asset-backed securities ​ ​ — ​ ​ — ​ ​ 4,750 ​ ​ 4,733 Total Securities ​ $ 2,017 ​ $ 2,074 ​ $ 607,017 ​ $ 603,168 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Held-to-Maturity ​ Available-for-Sale At December 31, 2020 Amortized Cost Fair Value Amortized Cost Fair Value Within one year ​ $ — ​ $ — ​ $ — ​ $ — One to five years ​ ​ — ​ ​ — ​ ​ 37,997 ​ ​ 37,916 Five to ten years ​ ​ — ​ ​ — ​ ​ — ​ ​ — Due after ten years ​ ​ — ​ ​ — ​ ​ — ​ ​ — Total ​ $ — ​ $ — ​ $ 37,997 ​ $ 37,916 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential mortgage securities ​ $ 2,760 ​ $ 2,827 ​ $ 192,163 ​ $ 194,688 Commercial mortgage securities ​ ​ — ​ ​ — ​ ​ 32,589 ​ ​ 33,492 Total Securities ​ $ 2,760 ​ $ 2,827 ​ $ 262,749 ​ $ 266,096 ​
Schedule of securities with unrealized/unrecognized losses	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Less than 12 Months ​ 12 months or more ​ Total ​ ​ Estimated ​ Unrealized ​ Estimated ​ Unrealized ​ Estimated ​ Unrealized At September 30, 2021 Fair Value Losses Fair Value Losses Fair Value Losses Debt securities available for sale: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential mortgage securities ​ $ 315,184 ​ $ (3,859) ​ $ — ​ $ — ​ $ 315,184 ​ $ (3,859) Commercial mortgage securities ​ ​ 14,919 ​ ​ (263) ​ ​ 379 ​ ​ — ​ ​ 15,298 ​ ​ (263) Asset-backed securities ​ ​ 4,733 ​ ​ (17) ​ ​ — ​ ​ — ​ ​ 4,733 ​ ​ (17) U.S. Government agency securities ​ ​ 39,546 ​ ​ (451) ​ ​ 27,685 ​ ​ (312) ​ ​ 67,231 ​ ​ (763) Securities issued by states and political subdivisions in the U.S ​ ​ 11,517 ​ ​ (319) ​ ​ — ​ ​ — ​ ​ 11,517 ​ ​ (319) Total securities available for sale ​ $ 385,899 ​ $ (4,909) ​ $ 28,064 ​ $ (312) ​ $ 413,963 ​ $ (5,221) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Less than 12 Months ​ 12 months or more ​ Total ​ ​ Estimated ​ Unrealized ​ Estimated ​ Unrealized ​ Estimated ​ Unrealized At December 31, 2020 Fair Value Losses Fair Value Losses Fair Value Losses Debt securities available for sale: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential mortgage securities ​ $ 33,734 ​ ​ (74) ​ ​ - ​ ​ - ​ ​ 33,734 ​ ​ (74) Commercial mortgage securities ​ ​ 12,314 ​ ​ (93) ​ ​ 385 ​ ​ (1) ​ ​ 12,699 ​ ​ (94) U.S. Government agency securities ​ ​ 37,916 ​ ​ (81) ​ ​ — ​ ​ — ​ ​ 37,916 ​ ​ (81) Total securities available-for-sale ​ $ 83,964 ​ $ (248) ​ $ 385 ​ $ (1) ​ $ 84,349 ​ $ (249) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

LOANS AND ALLOWANCE FOR LOAN _2

LOANS AND ALLOWANCE FOR LOAN LOSSES (Tables)	9 Months Ended
	Sep. 30, 2021
LOANS AND ALLOWANCE FOR LOAN LOSSES
Schedule of Net loans	​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2021 ​ December 31, 2020 Real estate ​ ​ ​ ​ ​ ​ Commercial ​ $ 2,378,074 ​ $ 1,887,505 Construction ​ ​ 150,144 ​ ​ 112,290 Multifamily ​ ​ 374,555 ​ ​ 433,239 One-to-four family ​ ​ 61,266 ​ ​ 71,354 Total real estate loans ​ ​ 2,964,039 ​ ​ 2,504,388 ​ ​ ​ ​ ​ ​ ​ Commercial and industrial ​ ​ 611,303 ​ ​ 591,500 Consumer ​ ​ 35,067 ​ ​ 46,431 Total loans ​ ​ 3,610,409 ​ ​ 3,142,319 Deferred fees ​ ​ (7,121) ​ ​ (5,266) Loans, net of deferred fees and unamortized costs ​ ​ 3,603,288 ​ ​ 3,137,053 Allowance for loan losses ​ ​ (38,121) ​ ​ (35,407) Balance at the end of the period ​ $ 3,565,167 ​ $ 3,101,646 ​
Schedule of changes in the allowance for loan losses by portfolio segment	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial ​ Commercial ​ ​ ​ ​ Multi ​ One-to-four ​ ​ ​ ​ ​ ​ Three months ended September 30, 2021 Real Estate & Industrial Construction Family Family ​ Consumer ​ Total Allowance for loan losses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning balance ​ $ 20,299 ​ $ 10,545 ​ $ 1,972 ​ $ 2,618 ​ $ 169 ​ $ 1,774 ​ $ 37,377 Provision/(credit) for loan losses ​ ​ 1,169 ​ ​ (440) ​ ​ 129 ​ ​ (331) ​ ​ (13) ​ ​ (24) ​ ​ 490 Loans charged-off ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ (54) ​ ​ (54) Recoveries ​ ​ — ​ ​ 308 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 308 Total ending allowance balance ​ $ 21,468 ​ $ 10,413 ​ $ 2,101 ​ $ 2,287 ​ $ 156 ​ $ 1,696 ​ $ 38,121 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial ​ Commercial ​ ​ ​ ​ Multi ​ One-to-four ​ ​ ​ ​ ​ ​ Three months ended September 30, 2020 Real Estate & Industrial Construction Family Family ​ Consumer ​ Total Allowance for loan losses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning balance ​ $ 18,690 ​ ​ 9,132 ​ ​ 741 ​ ​ 2,739 ​ ​ 242 ​ ​ 961 ​ ​ 32,505 Provision/(credit) for loan losses ​ ​ (1,611) ​ ​ 2,104 ​ ​ 706 ​ ​ (215) ​ ​ (61) ​ ​ 214 ​ ​ 1,137 Loans charged-off ​ ​ — ​ ​ (82) ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ (82) Recoveries ​ ​ — ​ ​ 54 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 54 Total ending allowance balance ​ $ 17,079 ​ $ 11,208 ​ $ 1,447 ​ $ 2,524 ​ $ 181 ​ $ 1,175 ​ $ 33,614 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial ​ Commercial ​ ​ ​ ​ Multi ​ One-to-four ​ ​ ​ ​ ​ ​ Nine months ended September 30, 2021 Real Estate & Industrial Construction Family Family ​ Consumer ​ Total Allowance for loan losses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning balance ​ $ 17,243 ​ $ 12,123 ​ $ 1,593 ​ $ 2,661 ​ $ 206 ​ $ 1,581 ​ $ 35,407 Provision/(credit) for loan losses ​ ​ 4,225 ​ ​ (1,163) ​ ​ 508 ​ ​ (374) ​ ​ (50) ​ ​ 169 ​ ​ 3,315 Loans charged-off ​ ​ — ​ ​ (855) ​ ​ — ​ ​ — ​ ​ — ​ ​ (54) ​ ​ (909) Recoveries ​ ​ — ​ ​ 308 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 308 Total ending allowance balance ​ $ 21,468 ​ $ 10,413 ​ $ 2,101 ​ $ 2,287 ​ $ 156 ​ $ 1,696 ​ $ 38,121 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial ​ Commercial ​ ​ ​ ​ Multi ​ One-to-four ​ ​ ​ ​ ​ ​ Nine months ended September 30, 2020 Real Estate & Industrial Construction Family Family ​ Consumer ​ Total Allowance for loan losses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning balance ​ $ 15,317 ​ $ 7,070 ​ $ 411 ​ $ 2,453 ​ $ 267 ​ $ 754 ​ $ 26,272 Provision/(credit) for loan losses ​ ​ 1,762 ​ ​ 4,278 ​ ​ 1,036 ​ ​ 71 ​ ​ (86) ​ ​ 632 ​ ​ 7,693 Loans charged-off ​ ​ — ​ ​ (254) ​ ​ — ​ ​ — ​ ​ — ​ ​ (221) ​ ​ (475) Recoveries ​ ​ — ​ ​ 114 ​ ​ — ​ ​ — ​ ​ — ​ ​ 10 ​ ​ 124 Total ending allowance balance ​ $ 17,079 ​ $ 11,208 ​ $ 1,447 ​ $ 2,524 ​ $ 181 ​ $ 1,175 ​ $ 33,614
Schedule of allowance for loan losses and the recorded investment in loans by portfolio segment	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial ​ Commercial ​ ​ ​ ​ Multi ​ One-to-four ​ ​ ​ ​ ​ ​ At September 30, 2021 Real Estate & Industrial Construction Family Family Consumer Total Allowance for loan losses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Individually evaluated for impairment ​ $ — ​ $ 2,814 ​ $ — ​ $ — ​ $ 33 ​ $ 1,430 ​ $ 4,277 Collectively evaluated for impairment ​ ​ 21,468 ​ ​ 7,599 ​ ​ 2,101 ​ ​ 2,287 ​ ​ 123 ​ ​ 266 ​ ​ 33,844 Total ending allowance balance ​ $ 21,468 ​ $ 10,413 ​ $ 2,101 ​ $ 2,287 ​ $ 156 ​ $ 1,696 ​ $ 38,121 Loans: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Individually evaluated for impairment ​ $ 10,333 ​ $ 3,145 ​ $ — ​ $ — ​ $ 958 ​ $ 2,125 ​ $ 16,561 Collectively evaluated for impairment ​ ​ 2,367,741 ​ ​ 608,158 ​ ​ 150,144 ​ ​ 374,555 ​ ​ 60,308 ​ ​ 32,942 ​ ​ 3,593,848 Total ending loan balance ​ $ 2,378,074 ​ $ 611,303 ​ $ 150,144 ​ $ 374,555 ​ $ 61,266 ​ $ 35,067 ​ $ 3,610,409 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial ​ Commercial ​ ​ ​ ​ Multi ​ One-to-four ​ ​ ​ ​ ​ ​ At December 31, 2020 Real Estate & Industrial Construction Family Family Consumer Total Allowance for loan losses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Individually evaluated for impairment ​ $ — ​ $ 3,662 ​ $ — ​ $ — ​ $ 53 ​ $ 1,203 ​ $ 4,918 Collectively evaluated for impairment ​ ​ 17,243 ​ ​ 8,461 ​ ​ 1,593 ​ ​ 2,661 ​ ​ 153 ​ ​ 378 ​ ​ 30,489 Total ending allowance balance ​ $ 17,243 ​ $ 12,123 ​ $ 1,593 ​ $ 2,661 ​ $ 206 ​ $ 1,581 ​ $ 35,407 Loans: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Individually evaluated for impairment ​ $ 10,345 ​ $ 4,192 ​ $ — ​ $ — ​ $ 999 ​ $ 2,197 ​ $ 17,733 Collectively evaluated for impairment ​ ​ 1,877,160 ​ ​ 587,308 ​ ​ 112,290 ​ ​ 433,239 ​ ​ 70,355 ​ ​ 44,234 ​ ​ 3,124,586 Total ending loan balance ​ $ 1,887,505 ​ $ 591,500 ​ $ 112,290 ​ $ 433,239 ​ $ 71,354 ​ $ 46,431 ​ $ 3,142,319
Schedule of loans determined to be impaired by class of loans	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unpaid Principal ​ ​ ​ Allowance for Loan ​ At September 30, 2021 Balance Recorded Investment Losses Allocated ​ With an allowance recorded: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ One-to-four family ​ $ 584 ​ $ 454 ​ $ 33 ​ Consumer ​ ​ 2,125 ​ ​ 2,125 ​ ​ 1,430 ​ Commercial & industrial ​ ​ 3,145 ​ ​ 3,145 ​ ​ 2,814 ​ Total ​ $ 5,854 ​ $ 5,724 ​ $ 4,277 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Without an allowance recorded: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ One-to-four family ​ $ 651 ​ $ 504 ​ $ — ​ Commercial real estate ​ ​ 10,333 ​ ​ 10,333 ​ ​ — ​ Commercial & industrial ​ ​ — ​ ​ — ​ ​ — ​ Total ​ $ 10,984 ​ $ 10,837 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unpaid Principal ​ ​ ​ Allowance for Loan ​ At December 31, 2020 Balance Recorded Investment Losses Allocated ​ With an allowance recorded: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ One-to-four family ​ $ 610 ​ $ 480 ​ $ 53 ​ Consumer ​ ​ 2,197 ​ ​ 2,197 ​ ​ 1,203 ​ Commercial & industrial ​ ​ 4,192 ​ ​ 4,192 ​ ​ 3,662 ​ Total ​ $ 6,999 ​ $ 6,869 ​ $ 4,918 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Without an allowance recorded: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ One-to-four family ​ $ 666 ​ $ 519 ​ $ — ​ Commercial real estate ​ ​ 10,345 ​ ​ 10,345 ​ ​ — ​ Commercial & industrial ​ ​ — ​ ​ — ​ ​ — ​ Total ​ $ 11,011 ​ $ 10,864 ​ $ — ​
Schedule of average recorded investment and interest income of loans	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Average Recorded ​ Interest Income Three months ended September 30, 2021 Investment Recognized With an allowance recorded: ​ ​ ​ ​ ​ ​ One-to-four family ​ $ 458 ​ $ 4 Consumer ​ ​ 2,103 ​ ​ 26 Commercial & industrial ​ ​ 3,145 ​ ​ — Total ​ $ 5,706 ​ $ 30 ​ ​ ​ ​ ​ ​ ​ Without an allowance recorded: ​ ​ ​ ​ ​ ​ One-to-four family ​ $ 506 ​ $ 7 Commercial real estate ​ ​ 10,335 ​ ​ 2 Commercial & industrial ​ ​ 96 ​ ​ — Total ​ $ 10,937 ​ $ 9 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Average Recorded ​ Interest Income Three months ended September 30, 2020 Investment Recognized With an allowance recorded: ​ ​ ​ ​ ​ ​ One-to-four family ​ $ 488 ​ $ 5 Consumer ​ ​ 2,112 ​ ​ 27 Commercial & industrial ​ ​ 5,497 ​ ​ — Total ​ $ 8,097 ​ $ 32 ​ ​ ​ ​ ​ ​ ​ Without an allowance recorded: ​ ​ ​ ​ ​ ​ One-to-four family ​ $ 524 ​ $ 3 Commercial real estate ​ ​ 363 ​ ​ - Total ​ $ 887 ​ $ 3 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Average Recorded ​ Interest Income Nine months ended September 30, 2021 Investment Recognized With an allowance recorded: ​ ​ ​ ​ ​ ​ One-to-four family ​ $ 466 ​ $ 16 Consumer ​ ​ 2,132 ​ ​ 84 Commercial & industrial ​ ​ 3,407 ​ ​ - Total ​ $ 6,005 ​ $ 100 ​ ​ ​ ​ ​ ​ ​ Without an allowance recorded: ​ ​ ​ ​ ​ ​ One-to-four family ​ $ 511 ​ $ 20 Commercial real estate ​ ​ 10,339 ​ ​ 207 Commercial & industrial ​ ​ 96 ​ ​ - Total ​ $ 10,946 ​ $ 227 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Average Recorded ​ Interest Income Nine months ended September 30, 2020 Investment Recognized With an allowance recorded: ​ ​ ​ ​ ​ ​ One-to-four family ​ $ 494 ​ $ 13 Consumer ​ ​ 1,330 ​ ​ 58 Commercial & industrial ​ ​ 3,272 ​ ​ — Total ​ $ 5,096 ​ $ 71 ​ ​ ​ ​ ​ ​ ​ Without an allowance recorded: ​ ​ ​ ​ ​ ​ One-to-four family ​ $ 1,115 ​ $ 13 Commercial real estate ​ ​ 364 ​ ​ 4 Commercial and industrial ​ ​ 1,188 ​ ​ — Total ​ $ 2,667 ​ $ 17
Schedule of recorded investment in non-accrual loans, loans past due over 90 days and still accruing by class of loans	​ ​ ​ ​ ​ ​ ​ ​ At September 30, 2021 Non-accrual ​ Loans Past Due Over 90 Days Still Accruing Commercial real estate ​ $ 9,984 ​ $ — Commercial & industrial ​ ​ 3,145 ​ ​ — Consumer ​ ​ 1,674 ​ ​ 573 Total ​ $ 14,803 ​ $ 573 ​ ​ ​ ​ ​ ​ ​ ​ At December 31, 2020 ​ Non-accrual ​ ​ Loans Past Due Over 90 Days Still Accruing Commercial & industrial ​ $ 4,192 ​ $ — Consumer ​ ​ 1,428 ​ ​ 769 Total ​ $ 5,620 ​ $ 769
Schedule of aging of the recorded investment in past due loans by class of loans	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 90 ​ ​ ​ ​ ​ ​ ​ ​ 30-59 ​ 60-89 ​ Days and ​ Total past ​ Current ​ ​ At September 30, 2021 Days Days Greater due loans Total Commercial real estate ​ $ — ​ $ — ​ $ 9,984 ​ $ 9,984 ​ $ 2,368,090 ​ $ 2,378,074 Commercial & industrial ​ ​ 92 ​ ​ — ​ ​ 3,145 ​ ​ 3,237 ​ ​ 608,066 ​ ​ 611,303 Construction ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 150,144 ​ ​ 150,144 Multifamily ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 374,555 ​ ​ 374,555 One-to-four family ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 61,266 ​ ​ 61,266 Consumer ​ ​ 43 ​ ​ — ​ ​ 2,247 ​ ​ 2,290 ​ ​ 32,777 ​ ​ 35,067 Total ​ $ 135 ​ $ — ​ $ 15,376 ​ $ 15,511 ​ $ 3,594,898 ​ $ 3,610,409 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 90 ​ ​ ​ ​ ​ ​ ​ ​ 30-59 ​ 60-89 ​ Days and ​ Total past ​ Current ​ ​ At December 31, 2020 Days Days Greater due loans Total Commercial real estate ​ $ 40 ​ $ 9,984 ​ $ — ​ $ 10,024 ​ $ 1,877,481 ​ $ 1,887,505 Commercial & industrial ​ ​ 4,429 ​ ​ 6,400 ​ ​ 4,192 ​ ​ 15,021 ​ ​ 576,479 ​ ​ 591,500 Construction ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 112,290 ​ ​ 112,290 Multifamily ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 433,239 ​ ​ 433,239 One-to-four family ​ ​ 2,908 ​ ​ — ​ ​ — ​ ​ 2,908 ​ ​ 68,446 ​ ​ 71,354 Consumer ​ ​ 112 ​ ​ 32 ​ ​ 2,197 ​ ​ 2,341 ​ ​ 44,090 ​ ​ 46,431 Total ​ $ 7,489 ​ $ 16,416 ​ $ 6,389 ​ $ 30,294 ​ $ 3,112,025 ​ $ 3,142,319 ​
Schedule of recorded investment in TDRs by class of loans	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2021 December 31, 2020 Troubled debt restructurings: ​ ​ ​ ​ ​ ​ ​ Real Estate: ​ ​ ​ ​ ​ ​ ​ Commercial real estate ​ $ 349 ​ $ 361 ​ One-to-four family ​ ​ 958 ​ ​ 999 ​ Total troubled debt restructurings ​ $ 1,307 ​ $ 1,360 ​
Schedule of risk category of loans by class of loans	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Special ​ ​ ​ ​ ​ ​ ​ ​ ​ At September 30, 2021 Pass Mention Substandard Doubtful ​ ​ Total Commercial real estate ​ $ 2,367,741 ​ $ 349 ​ $ 9,984 ​ $ — ​ $ 2,378,074 Commercial & industrial ​ ​ 603,963 ​ ​ 4,195 ​ ​ — ​ ​ 3,145 ​ ​ 611,303 Construction ​ ​ 150,144 ​ ​ — ​ ​ — ​ ​ — ​ ​ 150,144 Multifamily ​ ​ 374,555 ​ ​ — ​ ​ — ​ ​ — ​ ​ 374,555 Total ​ $ 3,496,403 ​ $ 4,544 ​ $ 9,984 ​ $ 3,145 ​ $ 3,514,076 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Special ​ ​ ​ ​ ​ ​ ​ ​ ​ At December 31, 2020 Pass Mention Substandard Doubtful ​ ​ Total Commercial real estate ​ $ 1,877,160 ​ $ 361 ​ $ 9,984 ​ $ — ​ $ 1,887,505 Commercial & industrial ​ ​ 583,809 ​ ​ 3,499 ​ ​ — ​ ​ 4,192 ​ ​ 591,500 Construction ​ ​ 112,290 ​ ​ — ​ ​ — ​ ​ — ​ ​ 112,290 Multi-family ​ ​ 433,239 ​ ​ — ​ ​ — ​ ​ — ​ ​ 433,239 Total ​ $ 3,006,498 ​ $ 3,860 ​ $ 9,984 ​ $ 4,192 ​ $ 3,024,534

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	9 Months Ended
	Sep. 30, 2021
EARNINGS PER SHARE
Schedule of earnings per common share	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended September 30, ​ Nine months ended September 30, ​ ​ 2021 2020 2021 2020 Basic ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income per consolidated statements of income ​ $ 16,215 ​ $ 10,783 ​ $ 41,668 ​ $ 27,690 ​ Less: Earnings allocated to participating securities ​ ​ (508) ​ ​ (89) ​ ​ (568) ​ ​ (255) ​ Net income available to common stockholders ​ $ 15,707 ​ $ 10,694 ​ $ 41,100 ​ $ 27,435 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average common shares outstanding including participating securities ​ ​ 8,897,910 ​ ​ 8,291,068 ​ ​ 8,518,639 ​ ​ 8,296,701 ​ Less: Weighted average participating securities ​ ​ (278,937) ​ ​ (68,198) ​ ​ (116,045) ​ ​ (76,499) ​ Weighted average common shares outstanding ​ ​ 8,618,973 ​ ​ 8,222,870 ​ ​ 8,402,594 ​ ​ 8,220,202 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic earnings per common share ​ $ 1.82 ​ $ 1.30 ​ $ 4.89 ​ $ 3.34 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Diluted ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income allocated to common stockholders ​ $ 15,707 ​ $ 10,694 ​ $ 41,100 ​ $ 27,435 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average common shares outstanding for basic earnings per common share ​ ​ 8,618,973 ​ ​ 8,222,870 ​ ​ 8,402,594 ​ ​ 8,220,202 ​ Add: Dilutive effects of assumed exercise of stock options ​ ​ 173,909 ​ ​ 92,269 ​ ​ 161,932 ​ ​ 103,737 ​ Add: Dilutive effects of assumed vesting of performance based restricted stock units ​ ​ 53,571 ​ ​ 78,072 ​ ​ 41,932 ​ ​ 68,116 ​ Add: Dilutive effects of assumed vesting of restricted stock units ​ ​ 46,651 ​ ​ — ​ ​ 29,939 ​ ​ — ​ Average shares and dilutive potential common shares ​ ​ 8,893,104 ​ ​ 8,393,211 ​ ​ 8,636,397 ​ ​ 8,392,055 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Dilutive earnings per common share ​ $ 1.77 ​ $ 1.27 ​ $ 4.76 ​ $ 3.27 ​

STOCK COMPENSATION PLAN (Tables

STOCK COMPENSATION PLAN (Tables)	9 Months Ended
	Sep. 30, 2021
STOCK COMPENSATION PLAN
Schedule of status of the stock option plan	​ ​ ​ ​ ​ ​ ​ ​ ​ Nine Months Ended September 30, 2021 ​ Number of Weighted Average ​ ​ Options ​ Exercise Price ​ ​ ​ ​ ​ ​ Outstanding, beginning of period ​ 231,000 ​ $ 18.00 Granted ​ — ​ ​ — Exercised ​ — ​ ​ — Cancelled/forfeited ​ — ​ ​ — Outstanding, end of period ​ 231,000 ​ $ 18.00 Options vested and exercisable at end of period ​ 231,000 ​ $ 18.00 ​ ​ ​ ​ ​ ​ Weighted average remaining contractual life (years) ​ ​ ​ ​ 2.63
Schedule of summary of stock options outstanding	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ At September 30, 2021 Range of Average ​ ​ ​ Weighted Average ​ Weighted Average ​ Weighted Average Exercise Prices Number Outstanding Remaining Contractual Life Exercise Price ​ Intrinsic Price per Share $10 – 30 ​ 231,000 ​ 2.63 ​ $ 18.00 ​ $ 66.30
Schedule of changes in the non-vested restricted stock awards	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine Months Ended September 30, 2021 ​ ​ ​ ​ ​ Weighted Average ​ ​ Number of Shares Grant Date Fair Value ​ ​ ​ ​ ​ ​ ​ ​ Outstanding, beginning of period ​ 76,289 ​ $ 38.66 ​ Granted ​ 168,582 ​ ​ 57.23 ​ Forfeited ​ (10,200) ​ ​ 48.09 ​ Vested ​ (14,489) ​ ​ 30.45 ​ Outstanding at end of period ​ 220,182 ​ $ 52.98 ​
Summary of performance restricted share units (PRSUs) awards	​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2021 ​ ​ ​ ​ Weighted average service inception date fair value of award shares ​ $ 5,721,300 Minimum aggregate share payout ​ ​ 9,000 Maximum aggregate share payout ​ ​ 90,000 Likely aggregate share payout ​ ​ 90,000 ​

FAIR VALUE OF FINANCIAL INSTR_2

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	9 Months Ended
	Sep. 30, 2021
FAIR VALUE OF FINANCIAL INSTRUMENTS
Schedule of Assets and Liabilities measured at fair value on a recurring basis	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurement using: ​ ​ ​ ​ ​ Quoted Prices ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ in Active ​ Significant ​ ​ ​ ​ ​ ​ ​ ​ Markets ​ Other ​ Significant ​ ​ Carrying ​ For Identical ​ Observable ​ Unobservable ​ Amount Assets (Level 1) Inputs (Level 2) Inputs (Level 3) At September 30, 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential mortgage-backed securities ​ $ 501,431 ​ $ — ​ $ 501,431 ​ $ — Commercial mortgage-backed securities ​ ​ 18,256 ​ ​ — ​ ​ 18,256 ​ ​ — Asset-backed securities ​ ​ 4,733 ​ ​ — ​ ​ 4,733 ​ ​ ​ U.S. Government agency ​ ​ 67,231 ​ ​ — ​ ​ 67,231 ​ ​ ​ Securities issued by states and political subdivisions in the U.S ​ ​ 11,517 ​ ​ — ​ ​ 11,517 ​ ​ ​ CRA Mutual Fund ​ ​ 2,289 ​ ​ 2,289 ​ ​ — ​ ​ — Derivative assets - interest rate cap ​ ​ ​ ​ — ​ ​ 2,086 ​ ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurement using: ​ ​ ​ ​ ​ Quoted Prices ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ in Active ​ Significant ​ ​ ​ ​ ​ ​ ​ ​ Markets ​ Other ​ Significant ​ ​ Carrying ​ For Identical ​ Observable ​ Unobservable ​ Amount Assets (Level 1) Inputs (Level 2) Inputs (Level 3) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ At December 31, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Residential mortgage securities ​ $ 194,688 ​ $ — ​ $ 194,688 ​ $ — Commercial mortgage securities ​ ​ 33,492 ​ ​ — ​ ​ 33,492 ​ ​ — U.S. Government agency securities ​ ​ 37,916 ​ ​ — ​ ​ 37,916 ​ ​ — CRA Mutual Fund ​ ​ 2,313 ​ ​ 2,313 ​ ​ — ​ ​ — Derivative assets - interest rate cap ​ ​ 770 ​ ​ — ​ ​ 770 ​ ​ —
Schedule of carrying amount and estimated fair values of financial instruments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurement Using: ​ ​ ​ ​ ​ ​ ​ ​ Quoted Prices ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ in Active ​ Significant ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Markets ​ Other ​ Significant ​ ​ ​ ​ ​ Carrying ​ For Identical ​ Observable ​ Unobservable ​ Total Fair At September 30, 2021 Amount Assets (Level 1) Inputs (Level 2) Inputs (Level 3) Value Financial Assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and due from banks ​ $ 32,660 ​ $ 32,660 ​ $ — ​ $ — ​ $ 32,660 Overnight deposits ​ ​ 1,824,820 ​ ​ 1,824,820 ​ ​ — ​ ​ — ​ ​ 1,824,820 Securities available for sale ​ ​ 603,168 ​ ​ — ​ ​ 603,168 ​ ​ — ​ ​ 603,168 Securities held to maturity ​ ​ 2,017 ​ ​ — ​ ​ 2,074 ​ ​ — ​ ​ 2,074 Equity investments ​ ​ 2,289 ​ ​ 2,289 ​ ​ — ​ ​ — ​ ​ 2,289 Loans, net ​ ​ 3,565,167 ​ ​ — ​ ​ — ​ ​ 3,592,347 ​ ​ 3,592,347 Other investments ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ FRB Stock ​ ​ 7,430 ​ ​ N/A ​ ​ N/A ​ ​ N/A ​ ​ N/A FHLB Stock ​ ​ 3,070 ​ ​ N/A ​ ​ N/A ​ ​ N/A ​ ​ N/A Disability Fund ​ ​ 1,000 ​ ​ — ​ ​ 1,000 ​ ​ — ​ ​ 1,000 Time deposits at banks ​ ​ 498 ​ ​ 498 ​ ​ — ​ ​ — ​ ​ 498 Interest rate cap derivative ​ ​ 2,086 ​ ​ — ​ ​ 2,086 ​ ​ — ​ ​ 2,086 Accrued interest receivable ​ ​ 13,504 ​ ​ — ​ ​ 717 ​ ​ 12,787 ​ ​ 13,504 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Financial liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-interest-bearing demand deposits ​ $ 2,803,823 ​ $ 2,803,823 ​ $ — ​ $ — ​ $ 2,803,823 Money market and savings deposits ​ ​ 2,571,707 ​ ​ 2,571,707 ​ ​ — ​ ​ — ​ ​ 2,571,707 Time deposits ​ ​ 82,039 ​ ​ — ​ ​ 82,610 ​ ​ — ​ ​ 82,610 Trust preferred securities payable ​ ​ 20,620 ​ ​ — ​ ​ — ​ ​ 20,002 ​ ​ 20,002 Subordinated debt, net of issuance cost ​ ​ 24,698 ​ ​ — ​ ​ 25,438 ​ ​ — ​ ​ 25,438 Accrued interest payable ​ ​ 448 ​ ​ 3 ​ ​ 337 ​ ​ 108 ​ ​ 448 Secured Borrowings ​ ​ 35,559 ​ ​ 0 ​ ​ 35,559 ​ ​ 0 ​ ​ 35,559 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Fair Value Measurement Using: ​ ​ ​ ​ ​ ​ ​ ​ Quoted Prices ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ in Active ​ Significant ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Markets ​ Other ​ Significant ​ ​ ​ ​ ​ Carrying ​ For Identical ​ Observable ​ Unobservable ​ Total Fair At December 31, 2020 Amount Assets (Level 1) Inputs (Level 2) Inputs (Level 3) Value Financial Assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and due from banks ​ $ 8,692 ​ $ 8,692 ​ $ — ​ $ — ​ $ 8,692 Overnight deposits ​ ​ 855,613 ​ ​ 855,613 ​ ​ — ​ ​ — ​ ​ 855,613 Securities available for sale ​ ​ 266,096 ​ ​ — ​ ​ 266,096 ​ ​ — ​ ​ 266,096 Securities held to maturity ​ ​ 2,760 ​ ​ — ​ ​ 2,827 ​ ​ — ​ ​ 2,827 Equity investments ​ ​ 2,313 ​ ​ 2,313 ​ ​ — ​ ​ — ​ ​ 2,313 Loans, net ​ ​ 3,101,646 ​ ​ — ​ ​ — ​ ​ 3,094,998 ​ ​ 3,094,998 Other investments ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ FRB Stock ​ ​ 7,381 ​ ​ N/A ​ ​ N/A ​ ​ N/A ​ ​ N/A FHLB Stock ​ ​ 2,718 ​ ​ N/A ​ ​ N/A ​ ​ N/A ​ ​ N/A Disability Fund ​ ​ 1,000 ​ ​ — ​ ​ 1,000 ​ ​ — ​ ​ 1,000 CRA - CD ​ ​ 498 ​ ​ 498 ​ ​ — ​ ​ — ​ ​ 498 Interest rate cap derivative ​ ​ 770 ​ ​ — ​ ​ 770 ​ ​ — ​ ​ 770 Accrued interest receivable ​ ​ 13,249 ​ ​ — ​ ​ 414 ​ ​ 12,835 ​ ​ 13,429 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Financial liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-interest-bearing demand deposits ​ $ 1,726,135 ​ $ 1,726,135 ​ $ — ​ $ — ​ $ 1,726,135 Money market and savings deposits ​ ​ 2,011,409 ​ ​ 2,011,409 ​ ​ — ​ ​ — ​ ​ 2,011,409 Time deposits ​ ​ 92,062 ​ ​ — ​ ​ 93,157 ​ ​ — ​ ​ 93,157 Trust preferred securities payable ​ ​ 20,620 ​ ​ — ​ ​ — ​ ​ 20,011 ​ ​ 20,011 Subordinated debt, net of issuance cost ​ ​ 24,657 ​ ​ — ​ ​ 25,375 ​ ​ — ​ ​ 25,375 Accrued interest payable ​ ​ 712 ​ ​ 7 ​ ​ 591 ​ ​ 114 ​ ​ 712 Secured borrowing ​ ​ 36,964 ​ ​ — ​ ​ 36,964 ​ ​ — ​ ​ 36,964

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE GAIN (LOSS) (Tables)	9 Months Ended
	Sep. 30, 2021
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
Schedule of reclassifications out of accumulated other comprehensive income	The following table shows the amounts reclassified out of each component of accumulated other comprehensive income for the gain on the sale and calls of securities during the three and nine months ended September 30, 2021 and 2020 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended September 30, ​ Nine months ended September 30, ​ ​ 2021 ​ 2020 2021 2020 Proceeds ​ $ — ​ $ 25,000 ​ $ 43,241 ​ $ 141,422 Gross gains ​ $ — ​ $ — ​ $ 609 ​ $ 3,286 Tax impact ​ $ — ​ $ — ​ $ (195) ​ $ (1,036)

FINANCIAL INSTRUMENTS WITH OF_2

FINANCIAL INSTRUMENTS WITH OFF-BALANCE-SHEET RISK (Tables)	9 Months Ended
	Sep. 30, 2021
FINANCIAL INSTRUMENTS WITH OFF-BALANCE-SHEET RISK
Schedule of off-balance-sheet financial instruments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ At September 30, 2021 ​ At December 31, 2020 ​ ​ ​ ​ Variable ​ ​ ​ Variable ​ Fixed Rate Rate Fixed Rate Rate Undrawn lines of credit ​ $ 41,217 ​ $ 316,594 ​ $ 19,024 ​ $ 266,696 Letters of credit ​ ​ 51,534 ​ ​ — ​ ​ 34,264 ​ ​ — Total ​ $ 92,751 ​ $ 316,594 ​ $ 53,288 ​ $ 266,696

REVENUE FROM CONTRACTS WITH C_2

REVENUE FROM CONTRACTS WITH CUSTOMERS (Tables)	9 Months Ended
	Sep. 30, 2021
REVENUE FROM CONTRACTS WITH CUSTOMERS
Schedule of Company's sources of non-interest income	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended September 30, ​ Nine months ended September 30, ​ ​ 2021 2020 ​ 2021 2020 ​ Service charges on deposit accounts $ 1,671 ​ $ 863 ​ $ 4,085 ​ $ 2,747 ​ Global Payments Group revenue 3,615 ​ 2,572 ​ 10,509 ​ 6,301 ​ Other service charges and fees 614 ​ 202 ​ 1,484 ​ 1,238 ​ Total $ 5,900 ​ $ 3,637 ​ $ 16,078 ​ $ 10,286 ​

DERIVATIVES (Tables)

DERIVATIVES (Tables)	9 Months Ended
	Sep. 30, 2021
DERIVATIVES
Schedule of notional amount and fair value	​ ​ ​ ​ ​ ​ ​ ​ ​ Notional Amount ​ ​ Fair Value Derivatives designated as hedges: ​ ​ ​ ​ ​ Interest rate caps related to customer deposits $ 300,000 ​ $ 2,086
Schedule of effect of cash flow hedge accounting on accumulated other comprehensive income	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amount of Loss Recognized in OCI, net of tax ​ ​ Location of Gain (Loss) Reclassified from OCI into Income ​ ​ Amount of Gain (Loss) Reclassified from OCI into Income ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest rate caps related to customer deposits $ 1,069 ​ $ N/A ​ $ —

ORGANIZATION (Details)

ORGANIZATION (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2021USD ($)
ORGANIZATION
Net proceeds from issuance of common stock	$ 162,664

SUMMARY OF RECENT ACCOUNTING _3

SUMMARY OF RECENT ACCOUNTING PRONOUNCEMENTS (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
SUMMARY OF RECENT ACCOUNTING PRONOUNCEMENTS
Cumulative effect of adopting new accounting standard	$ 162,498	$ 120,830

INVESTMENT SECURITIES (Schedule

INVESTMENT SECURITIES (Schedule of amortized cost and fair value of securities available-for-sale) (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Schedule of Available-for-sale Securities [Line Items]
Investment securities available for sale, at fair value	$ 603,168	$ 266,096
Available-for-sale Securities.
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	607,017	262,749
Gross Unrealized/Unrecognized Gains	1,372	3,596
Gross Unrealized/Unrecognized Losses	(5,221)	(249)
Investment securities available for sale, at fair value	603,168	266,096
Available-for-sale Securities. | Residential mortgage securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	504,167	192,163
Gross Unrealized/Unrecognized Gains	1,123	2,599
Gross Unrealized/Unrecognized Losses	(3,859)	(74)
Investment securities available for sale, at fair value	501,431	194,688
Available-for-sale Securities. | Commercial mortgage securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	18,270	32,589
Gross Unrealized/Unrecognized Gains	249	997
Gross Unrealized/Unrecognized Losses	(263)	(94)
Investment securities available for sale, at fair value	18,256	33,492
Available-for-sale Securities. | Asset-backed Securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	4,750
Gross Unrealized/Unrecognized Gains	0
Gross Unrealized/Unrecognized Losses	(17)
Investment securities available for sale, at fair value	4,733
Available-for-sale Securities. | U.S. Government agency securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	67,994	37,997
Gross Unrealized/Unrecognized Gains	0	0
Gross Unrealized/Unrecognized Losses	(763)	(81)
Investment securities available for sale, at fair value	67,231	$ 37,916
Available-for-sale Securities. | Securities issued by states and political subdivisions in the U.S
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	11,836
Gross Unrealized/Unrecognized Gains	0
Gross Unrealized/Unrecognized Losses	(319)
Investment securities available for sale, at fair value	$ 11,517

INVESTMENT SECURITIES (Schedu_2

INVESTMENT SECURITIES (Schedule of amortized cost and fair value of securities held-to-maturity) (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	$ 2,017	$ 2,760
Total Securities	2,074	2,827
Held-to-maturity Securities
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	2,017	2,760
Gross Unrealized/Unrecognized Gains	57	67
Gross Unrealized/Unrecognized Losses		0
Total Securities	2,074	2,827
Held-to-maturity Securities | Residential mortgage securities
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	2,017	2,760
Gross Unrealized/Unrecognized Gains	57	67
Gross Unrealized/Unrecognized Losses		0
Total Securities	$ 2,074	$ 2,827

INVESTMENT SECURITIES (Schedu_3

INVESTMENT SECURITIES (Schedule of amortized cost and fair value of marketable equity securities) (Details) - Equity securities - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Marketable Securities [Line Items]
Amortized Cost - CRA Mutual Fund	$ 2,320	$ 2,299
Gross Unrealized/Unrecognized Gains	0	14
Gross Unrealized/Unrecognized Losses	(31)	0
Fair Value CRA Mutual Fund	2,289	2,313
CRA mutual fund
Marketable Securities [Line Items]
Amortized Cost - CRA Mutual Fund	2,320	2,299
Gross Unrealized/Unrecognized Gains	0	14
Gross Unrealized/Unrecognized Losses	(31)	0
Fair Value CRA Mutual Fund	$ 2,289	$ 2,313

INVESTMENT SECURITIES (Proceeds

INVESTMENT SECURITIES (Proceeds from sales and calls of securities and associated gains and losses) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
INVESTMENT SECURITIES
Proceeds from sale of securities available for sale, amortized cost	$ 0	$ 25,000	$ 42,600
Sale of available for sale securities, at amortized cost				$ 108,100
Proceeds from calls of securities available for sale, at amortized cost				30,000
Proceeds		$ 25,000	43,241	141,422
Gross gains			609	3,286
Tax impact			$ (195)	$ (1,036)

INVESTMENT SECURITIES (Schedu_4

INVESTMENT SECURITIES (Schedule of Amortized Cost and Fair Value of Securities Classified by Contractual Maturity) (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Amortized Cost
Amortized Cost, Held to maturity	$ 2,017	$ 2,760
Fair Value
Fair Value, Held to maturity	2,074	2,827
Amortized Cost
One to five years	47,994	37,997
Five to ten years	15,000
After ten years	16,836
Amortized Cost, total	79,830	37,997
Amortized Cost, Available-for-sale Securities	607,017	262,749
Fair Value
One to five years	47,475	37,916
Five to ten years	14,832
After ten years	16,441
Fair Value, total	78,748	37,916
Fair Value, Available-for-sale Securities	603,168	266,096
AFS securities pledged to secure customer deposit	0	0
Residential mortgage securities
Amortized Cost
Amortized Cost, Held to maturity	2,017	2,760
Fair Value
Fair Value, Held to maturity	2,074	2,827
Amortized Cost
Amortized Cost, Available-for-sale Securities	504,167	192,163
Fair Value
Fair Value, Available-for-sale Securities	501,431	194,688
Commercial mortgage securities
Amortized Cost
Amortized Cost, Available-for-sale Securities	18,270	32,589
Fair Value
Fair Value, Available-for-sale Securities	18,256	$ 33,492
Asset-backed Securities
Amortized Cost
Amortized Cost, Available-for-sale Securities	4,750
Fair Value
Fair Value, Available-for-sale Securities	$ 4,733

INVESTMENT SECURITIES (Schedu_5

INVESTMENT SECURITIES (Schedule of Securities with Unrealized Losses) (Details) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2021USD ($)item	Dec. 31, 2020USD ($)item
Available-for-sale Securities
Less than 12 Months, Estimated Fair Value		$ 37,916
Less than 12 Months, Unrealized/Unrecognized Losses		(81)
Total, Estimated Fair Value		37,916
Total, Unrealized/Unrecognized Losses		$ (81)
Number of securities of one issuer | item	0	0
Impairment loss	$ 0	$ 0
Available-for-sale Securities.
Available-for-sale Securities
Less than 12 Months, Estimated Fair Value	385,899	83,964
Less than 12 Months, Unrealized/Unrecognized Losses	(4,909)	(248)
12 months or more, Estimated Fair Value	28,064	385
12 months or more, Unrealized/Unrecognized Losses	(312)	(1)
Total, Estimated Fair Value	413,963	84,349
Total, Unrealized/Unrecognized Losses	(5,221)	(249)
Residential mortgage securities | Available-for-sale Securities.
Available-for-sale Securities
Less than 12 Months, Estimated Fair Value	315,184	33,734
Less than 12 Months, Unrealized/Unrecognized Losses	(3,859)	(74)
Total, Estimated Fair Value	315,184	33,734
Total, Unrealized/Unrecognized Losses	(3,859)	(74)
Commercial mortgage securities | Available-for-sale Securities.
Available-for-sale Securities
Less than 12 Months, Estimated Fair Value	14,919	12,314
Less than 12 Months, Unrealized/Unrecognized Losses	(263)	(93)
12 months or more, Estimated Fair Value	379	385
12 months or more, Unrealized/Unrecognized Losses		(1)
Total, Estimated Fair Value	15,298	12,699
Total, Unrealized/Unrecognized Losses	(263)	$ (94)
Asset-backed Securities | Available-for-sale Securities.
Available-for-sale Securities
Less than 12 Months, Estimated Fair Value	4,733
Less than 12 Months, Unrealized/Unrecognized Losses	(17)
Total, Estimated Fair Value	4,733
Total, Unrealized/Unrecognized Losses	(17)
U.S. Government agency securities | Available-for-sale Securities.
Available-for-sale Securities
Less than 12 Months, Estimated Fair Value	39,546
Less than 12 Months, Unrealized/Unrecognized Losses	(451)
12 months or more, Estimated Fair Value	27,685
12 months or more, Unrealized/Unrecognized Losses	(312)
Total, Estimated Fair Value	67,231
Total, Unrealized/Unrecognized Losses	(763)
Securities issued by states and political subdivisions in the U.S | Available-for-sale Securities.
Available-for-sale Securities
Less than 12 Months, Estimated Fair Value	11,517
Less than 12 Months, Unrealized/Unrecognized Losses	(319)
Total, Estimated Fair Value	11,517
Total, Unrealized/Unrecognized Losses	$ (319)

LOANS AND ALLOWANCE FOR LOAN _3

LOANS AND ALLOWANCE FOR LOAN LOSSES (Schedule of Loan Receivables) (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Jun. 30, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Dec. 31, 2019
Loans and Leases Receivable Disclosure [Line Items]
Total loans	$ 3,610,409		$ 3,142,319
Deferred fees	(7,121)		(5,266)
Loans, net of deferred fees and unamortized costs	3,603,288		3,137,053
Allowance for loan losses	(38,121)	$ (37,377)	(35,407)	$ (33,614)	$ (32,505)	$ (26,272)
Net loans	3,565,167		3,101,646
Real estate
Loans and Leases Receivable Disclosure [Line Items]
Total loans	2,964,039		2,504,388
Commercial and industrial
Loans and Leases Receivable Disclosure [Line Items]
Total loans	611,303		591,500
Allowance for loan losses	(10,413)	(10,545)	(12,123)	(11,208)		(7,070)
Commercial and industrial | Paycheck Protection Program loans
Loans and Leases Receivable Disclosure [Line Items]
Net loans	2,500		3,800
Consumer.
Loans and Leases Receivable Disclosure [Line Items]
Total loans	35,067		46,431
Allowance for loan losses	(1,696)	(1,774)	(1,581)	(1,175)	(961)	(754)
Commercial | Real estate
Loans and Leases Receivable Disclosure [Line Items]
Total loans	2,378,074		1,887,505
Allowance for loan losses	(21,468)	(20,299)	(17,243)	(17,079)	(18,690)	(15,317)
Construction | Real estate
Loans and Leases Receivable Disclosure [Line Items]
Total loans	150,144		112,290
Allowance for loan losses	(2,101)	(1,972)	(1,593)	(1,447)	(741)	(411)
Multi-family | Real estate
Loans and Leases Receivable Disclosure [Line Items]
Total loans	374,555		433,239
Allowance for loan losses	(2,287)	(2,618)	(2,661)	(2,524)	(2,739)	(2,453)
One to four family | Real estate
Loans and Leases Receivable Disclosure [Line Items]
Total loans	61,266		71,354
Allowance for loan losses	$ (156)	$ (169)	$ (206)	$ (181)	$ (242)	$ (267)

LOANS AND ALLOWANCE FOR LOAN _4

LOANS AND ALLOWANCE FOR LOAN LOSSES (Schedule of Activity in the Allowance for Loan Losses by Segment) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	$ 37,377	$ 32,505	$ 35,407	$ 26,272
Provision /(credit) for loan losses	490	1,137	3,315	7,693
Loans charged-off	(54)	(82)	(909)	(475)
Recoveries	308	54	308	124
Total ending allowance balance	38,121	33,614	38,121	33,614
Net charge-offs	254,000	28,000	601,000	351,000
Commercial And Industrial
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance		9,132	12,123
Provision /(credit) for loan losses		2,104	(1,163)
Loans charged-off		(82)	(855)
Recoveries		54	308
Total ending allowance balance	10,413	11,208	10,413	11,208
Real estate | Commercial
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	20,299	18,690	17,243	15,317
Provision /(credit) for loan losses	1,169	(1,611)	4,225	1,762
Total ending allowance balance	21,468	17,079	21,468	17,079
Real estate | Construction
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	1,972	741	1,593	411
Provision /(credit) for loan losses	129	706	508	1,036
Total ending allowance balance	2,101	1,447	2,101	1,447
Real estate | Multi-family
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	2,618	2,739	2,661	2,453
Provision /(credit) for loan losses	(331)	(215)	(374)	71
Total ending allowance balance	2,287	2,524	2,287	2,524
Real estate | One to four family
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	169	242	206	267
Provision /(credit) for loan losses	(13)	(61)	(50)	(86)
Total ending allowance balance	156	181	156	181
Commercial and industrial
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	10,545		12,123	7,070
Provision /(credit) for loan losses	(440)			4,278
Loans charged-off				(254)
Recoveries	308			114
Total ending allowance balance	10,413	11,208	10,413	11,208
Consumer.
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance	1,774	961	1,581	754
Provision /(credit) for loan losses	(24)	214	169	632
Loans charged-off	(54)		(54)	(221)
Recoveries				10
Total ending allowance balance	$ 1,696	$ 1,175	$ 1,696	$ 1,175

LOANS AND ALLOWANCE FOR LOAN _5

LOANS AND ALLOWANCE FOR LOAN LOSSES (Schedule of Loans by Impairment Method) (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Jun. 30, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Dec. 31, 2019
Loans and Leases Receivable Disclosure [Line Items]
Individually evaluated for impairment, Allowance for loan losses	$ 4,277		$ 4,918
Collectively evaluated for impairment, Allowance for loan losses	33,844		30,489
Total ending allowance balance	38,121	$ 37,377	35,407	$ 33,614	$ 32,505	$ 26,272
Individually evaluated for impairment, Loans	16,561		17,733
Collectively evaluated for impairment, Loans	3,593,848		3,124,586
Total ending loan balance	3,610,409		3,142,319
Real estate
Loans and Leases Receivable Disclosure [Line Items]
Total ending loan balance	2,964,039		2,504,388
Real estate | Commercial
Loans and Leases Receivable Disclosure [Line Items]
Collectively evaluated for impairment, Allowance for loan losses	21,468		17,243
Total ending allowance balance	21,468	20,299	17,243	17,079	18,690	15,317
Individually evaluated for impairment, Loans	10,333		10,345
Collectively evaluated for impairment, Loans	2,367,741		1,877,160
Total ending loan balance	2,378,074		1,887,505
Real estate | Construction
Loans and Leases Receivable Disclosure [Line Items]
Collectively evaluated for impairment, Allowance for loan losses	2,101		1,593
Total ending allowance balance	2,101	1,972	1,593	1,447	741	411
Collectively evaluated for impairment, Loans	150,144		112,290
Total ending loan balance	150,144		112,290
Real estate | Multi-family
Loans and Leases Receivable Disclosure [Line Items]
Collectively evaluated for impairment, Allowance for loan losses	2,287		2,661
Total ending allowance balance	2,287	2,618	2,661	2,524	2,739	2,453
Collectively evaluated for impairment, Loans	374,555		433,239
Total ending loan balance	374,555		433,239
Real estate | One to four family
Loans and Leases Receivable Disclosure [Line Items]
Individually evaluated for impairment, Allowance for loan losses	33		53
Collectively evaluated for impairment, Allowance for loan losses	123		153
Total ending allowance balance	156	169	206	181	242	267
Individually evaluated for impairment, Loans	958		999
Collectively evaluated for impairment, Loans	60,308		70,355
Total ending loan balance	61,266		71,354
Commercial and industrial
Loans and Leases Receivable Disclosure [Line Items]
Individually evaluated for impairment, Allowance for loan losses	2,814		3,662
Collectively evaluated for impairment, Allowance for loan losses	7,599		8,461
Total ending allowance balance	10,413	10,545	12,123	11,208		7,070
Individually evaluated for impairment, Loans	3,145		4,192
Collectively evaluated for impairment, Loans	608,158		587,308
Total ending loan balance	611,303		591,500
Consumer.
Loans and Leases Receivable Disclosure [Line Items]
Individually evaluated for impairment, Allowance for loan losses	1,430		1,203
Collectively evaluated for impairment, Allowance for loan losses	266		378
Total ending allowance balance	1,696	$ 1,774	1,581	$ 1,175	$ 961	$ 754
Individually evaluated for impairment, Loans	2,125		2,197
Collectively evaluated for impairment, Loans	32,942		44,234
Total ending loan balance	$ 35,067		$ 46,431

LOANS AND ALLOWANCE FOR LOAN _6

LOANS AND ALLOWANCE FOR LOAN LOSSES (Schedule of Impaired by Class of Loans) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
With an allowance recorded:
Unpaid Principal Balance	$ 5,854		$ 5,854		$ 6,999
Recorded Investment	5,724		5,724		6,869
Allowance for Loan Losses Allocated	4,277		4,277		4,918
Average Recorded Investment	5,706	$ 8,097	6,005	$ 5,096
Interest Income Recognized	30	32	100	71
Without an allowance recorded:
Unpaid Principal Balance	10,984		10,984		11,011
Recorded Investment	10,837		10,837		10,864
Average Recorded Investment	10,937	887	10,946	2,667
Interest Income Recognized	9	3	227	17
Real estate | Commercial
Without an allowance recorded:
Unpaid Principal Balance	10,333		10,333		10,345
Recorded Investment	10,333		10,333		10,345
Average Recorded Investment	10,335	363	10,339	364
Interest Income Recognized	2		207	4
Real estate | One to four family
With an allowance recorded:
Unpaid Principal Balance	584		584		610
Recorded Investment	454		454		480
Allowance for Loan Losses Allocated	33		33		53
Average Recorded Investment	458	488	466	494
Interest Income Recognized	4	5	16	13
Without an allowance recorded:
Unpaid Principal Balance	651		651		666
Recorded Investment	504		504		519
Average Recorded Investment	506	524	511	1,115
Interest Income Recognized	7	3	20	13
Commercial and industrial
With an allowance recorded:
Unpaid Principal Balance	3,145		3,145		4,192
Recorded Investment	3,145		3,145		4,192
Allowance for Loan Losses Allocated	2,814		2,814		3,662
Average Recorded Investment	3,145	5,497	3,407	3,272
Without an allowance recorded:
Average Recorded Investment	96		96	1,188
Consumer.
With an allowance recorded:
Unpaid Principal Balance	2,125		2,125		2,197
Recorded Investment	2,125		2,125		2,197
Allowance for Loan Losses Allocated	1,430		1,430		$ 1,203
Average Recorded Investment	2,103	2,112	2,132	1,330
Interest Income Recognized	$ 26	$ 27	$ 84	$ 58

LOANS AND ALLOWANCE FOR LOAN _7

LOANS AND ALLOWANCE FOR LOAN LOSSES (Schedule of Non-accrual Loans) (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Loans and Leases Receivable Disclosure [Line Items]
Nonaccrual	$ 14,803	$ 5,620
Loans Past Due Over 90 Days Still Accruing	573	769
Real estate | Commercial
Loans and Leases Receivable Disclosure [Line Items]
Nonaccrual	9,984
Loans Past Due Over 90 Days Still Accruing	0
Commercial and industrial
Loans and Leases Receivable Disclosure [Line Items]
Nonaccrual	3,145	4,192
Loans Past Due Over 90 Days Still Accruing	0	0
Consumer.
Loans and Leases Receivable Disclosure [Line Items]
Nonaccrual	1,674	1,428
Loans Past Due Over 90 Days Still Accruing	$ 573	$ 769

LOANS AND ALLOWANCE FOR LOAN _8

LOANS AND ALLOWANCE FOR LOAN LOSSES (Schedule of Past Due Loans) (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	$ 15,511	$ 30,294
Loans not Past Due	3,594,898	3,112,025
Total loans	3,610,409	3,142,319
30 - 59 Days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	135	7,489
60 - 89 Days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due		16,416
Greater than 90 days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	15,376	6,389
Real estate
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total loans	2,964,039	2,504,388
Real estate | Commercial
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	9,984	10,024
Loans not Past Due	2,368,090	1,877,481
Total loans	2,378,074	1,887,505
Real estate | Commercial | 30 - 59 Days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due		40
Real estate | Commercial | 60 - 89 Days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due		9,984
Real estate | Commercial | Greater than 90 days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	9,984
Real estate | Construction
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans not Past Due	150,144	112,290
Total loans	150,144	112,290
Real estate | Multi-family
Financing Receivable, Recorded Investment, Past Due [Line Items]
Loans not Past Due	374,555	433,239
Total loans	374,555	433,239
Real estate | One to four family
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due		2,908
Loans not Past Due	61,266	68,446
Total loans	61,266	71,354
Real estate | One to four family | 30 - 59 Days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due		2,908
Commercial and industrial
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	3,237	15,021
Loans not Past Due	608,066	576,479
Total loans	611,303	591,500
Commercial and industrial | 30 - 59 Days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	92	4,429
Commercial and industrial | 60 - 89 Days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due		6,400
Commercial and industrial | Greater than 90 days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	3,145	4,192
Consumer.
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	2,290	2,341
Loans not Past Due	32,777	44,090
Total loans	35,067	46,431
Consumer. | 30 - 59 Days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	43	112
Consumer. | 60 - 89 Days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due		32
Consumer. | Greater than 90 days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	$ 2,247	$ 2,197

LOANS AND ALLOWANCE FOR LOAN _9

LOANS AND ALLOWANCE FOR LOAN LOSSES (Troubled Debt Restructurings) (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021USD ($)loan	Sep. 30, 2020loan	Sep. 30, 2021USD ($)itemloan	Sep. 30, 2020loanitem	Dec. 31, 2020USD ($)
Loans and Leases Receivable Disclosure [Line Items]
Loans modified in troubled debt restructurings	$ 1,307		$ 1,307		$ 1,360
Number of TDR loans during the period | loan	0	0	0	0
Specific reserves modified as TDRs	$ 33,000		$ 33,000		53,000
Number of contracts financing receivable modifications | item			0	0
Real estate | Commercial
Loans and Leases Receivable Disclosure [Line Items]
Loans modified in troubled debt restructurings	349		$ 349		361
Real estate | One to four family
Loans and Leases Receivable Disclosure [Line Items]
Loans modified in troubled debt restructurings	$ 958		$ 958		$ 999

LOANS AND ALLOWANCE FOR LOAN_10

LOANS AND ALLOWANCE FOR LOAN LOSSES (Schedule of Loans by Risk Category) (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Loans and Leases Receivable Disclosure [Line Items]
Loans and Leases Receivable, Gross	$ 3,610,409	$ 3,142,319
Commercial Construction and Multifamily Real Estate Loans [Member]
Loans and Leases Receivable Disclosure [Line Items]
Loans and Leases Receivable, Gross	3,514,076	3,024,534
Commercial Construction and Multifamily Real Estate Loans [Member] | Pass
Loans and Leases Receivable Disclosure [Line Items]
Loans and Leases Receivable, Gross	3,496,403	3,006,498
Commercial Construction and Multifamily Real Estate Loans [Member] | Special Mention
Loans and Leases Receivable Disclosure [Line Items]
Loans and Leases Receivable, Gross	4,544	3,860
Commercial Construction and Multifamily Real Estate Loans [Member] | Substandard
Loans and Leases Receivable Disclosure [Line Items]
Loans and Leases Receivable, Gross	9,984	9,984
Commercial Construction and Multifamily Real Estate Loans [Member] | Doubtful
Loans and Leases Receivable Disclosure [Line Items]
Loans and Leases Receivable, Gross	3,145	4,192
Real estate
Loans and Leases Receivable Disclosure [Line Items]
Loans and Leases Receivable, Gross	2,964,039	2,504,388
Real estate | Commercial
Loans and Leases Receivable Disclosure [Line Items]
Loans and Leases Receivable, Gross	2,378,074	1,887,505
Real estate | Commercial | Pass
Loans and Leases Receivable Disclosure [Line Items]
Loans and Leases Receivable, Gross	2,367,741	1,877,160
Real estate | Commercial | Special Mention
Loans and Leases Receivable Disclosure [Line Items]
Loans and Leases Receivable, Gross	349	361
Real estate | Commercial | Substandard
Loans and Leases Receivable Disclosure [Line Items]
Loans and Leases Receivable, Gross	9,984	9,984
Real estate | Construction
Loans and Leases Receivable Disclosure [Line Items]
Loans and Leases Receivable, Gross	150,144	112,290
Real estate | Construction | Pass
Loans and Leases Receivable Disclosure [Line Items]
Loans and Leases Receivable, Gross	150,144	112,290
Real estate | Multi-family
Loans and Leases Receivable Disclosure [Line Items]
Loans and Leases Receivable, Gross	374,555	433,239
Real estate | Multi-family | Pass
Loans and Leases Receivable Disclosure [Line Items]
Loans and Leases Receivable, Gross	374,555	433,239
Commercial and industrial
Loans and Leases Receivable Disclosure [Line Items]
Loans and Leases Receivable, Gross	611,303	591,500
Commercial and industrial | Pass
Loans and Leases Receivable Disclosure [Line Items]
Loans and Leases Receivable, Gross	603,963	583,809
Commercial and industrial | Special Mention
Loans and Leases Receivable Disclosure [Line Items]
Loans and Leases Receivable, Gross	4,195	3,499
Commercial and industrial | Doubtful
Loans and Leases Receivable Disclosure [Line Items]
Loans and Leases Receivable, Gross	$ 3,145	$ 4,192

LOANS AND ALLOWANCE FOR LOAN_11

LOANS AND ALLOWANCE FOR LOAN LOSSES (COVID-19 Loan Modifications) (Details) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021loan	Sep. 30, 2020loan	Sep. 30, 2021USD ($)loan	Sep. 30, 2020loan
Financing Receivable, Impaired [Line Items]
Financing Receivable, Modifications, Number of Contracts | loan	0	0	0	0
COVID 19 - Impact
Financing Receivable, Impaired [Line Items]
Financing Receivable, Modifications, Number of Contracts | loan			10
Loan Restructuring, Trial Modifications, Amount			$ 49.1
Percentage of Loans and Leases Receivable, Modified			1.40%
COVID 19 - Impact | Principal Payment Deferrals
Financing Receivable, Impaired [Line Items]
Loan Restructuring, Trial Modifications, Amount			$ 39.2
Percentage of Loans and Leases Receivable, Modified			1.10%
COVID 19 - Impact | Full Payment Deferrals
Financing Receivable, Impaired [Line Items]
Loan Restructuring, Trial Modifications, Amount			$ 10
Percentage of Loans and Leases Receivable, Modified			0.30%

STOCKHOLDERS' EQUITY (Details)

STOCKHOLDERS' EQUITY (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2021	Jun. 30, 2021	Dec. 31, 2020
Stockholders Equity Note [Line Items]
Issuance of common stock	$ 162,687	$ 162,687
Net proceeds from issuance of common stock		$ 162,664
Common stock, shares outstanding	10,644,192	10,644,192		8,295,272
Class B Preferred Stock
Stockholders Equity Note [Line Items]
Preferred stock, shares outstanding	272,636	272,636		272,636
Preferred stock, par value	$ 0.01	$ 0.01		$ 0.01
Common Stock
Stockholders Equity Note [Line Items]
Issuance of common stock	$ 23	$ 23
Issuance of common stock (in shares)	2,300,000	2,300,000
Stock price	$ 75,000,000	$ 75,000,000
Gross proceed		$ 172,500
Net proceeds from issuance of common stock		$ 162,700
Common stock, shares outstanding	10,600,000	10,600,000	8,300,000

EARNINGS PER SHARE (Computation

EARNINGS PER SHARE (Computation of Basic and Diluted Earnings per Share) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Basic
Net income per consolidated statements of income	$ 16,215	$ 10,783	$ 41,668	$ 27,690
Less: Earnings allocated to participating securities	(508)	(89)	(568)	(255)
Net income available to common stockholders	$ 15,707	$ 10,694	$ 41,100	$ 27,435
Weighted average common shares outstanding including participating securities	8,897,910	8,291,068	8,518,639	8,296,701
Less: Weighted average participating securities	(278,937)	(68,198)	(116,045)	(76,499)
Weighted average common shares outstanding	8,618,973	8,222,870	8,402,594	8,220,202
Basic earnings per common share (in dollars per share)	$ 1.82	$ 1.30	$ 4.89	$ 3.34
Diluted
Net income allocated to common shareholders	$ 15,707	$ 10,694	$ 41,100	$ 27,435
Weighted average common shares outstanding for basic earnings per common share	8,618,973	8,222,870	8,402,594	8,220,202
Average shares and dilutive potential common shares	8,893,104	8,393,211	8,636,397	8,392,055
Diluted earnings per common share (in dollars per share)	$ 1.77	$ 1.27	$ 4.76	$ 3.27
Stock Option
Diluted
Add: Dilutive effects of assumed exercise of stock options	173,909	92,269	161,932	103,737
Performance-Based Restricted Stock Units (PRSUs)
Diluted
Dilutive effects of assumed vesting units	53,571	78,072	41,932	68,116
Restricted stock
Calculations of basic and diluted earnings per share
Number of antidilutive shares not considered in computing diluted earnings per share	188,906		188,906
Diluted
Dilutive effects of assumed vesting units	46,651		29,939

STOCK COMPENSATION PLAN (Summar

STOCK COMPENSATION PLAN (Summary of the Status of the Stock Option Plan) (Details)	9 Months Ended
	Sep. 30, 2021$ / sharesshares
Number of Options
Outstanding, beginning of period | shares	231,000
Outstanding, end of period | shares	231,000
Options vested and exercisable at end of period | shares	231,000
Weighted Average Exercise Price
Outstanding, beginning of period | $ / shares	$ 18
Outstanding, end of period | $ / shares	18
Options vested and exercisable at end of period | $ / shares	$ 18
Weighted average remaining contractual life (years)	2 years 7 months 17 days

STOCK COMPENSATION PLAN (Summ_2

STOCK COMPENSATION PLAN (Summary of Stock Options Outstanding) (Details) - $10 - 30	9 Months Ended
	Sep. 30, 2021$ / sharesshares
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Average Exercise Prices, Lower Limit	$ 10
Range of Average Exercise Prices, Upper Limit	$ 30
Number of Options Outstanding | shares	231,000
Weighted Average Remaining Contractual Life	2 years 7 months 17 days
Weighted Average Exercise Price	$ 18
Weighted Average Intrinsic Price	$ 66.30

STOCK COMPENSATION PLAN (Summ_3

STOCK COMPENSATION PLAN (Summary of Non-Vested Restricted Stock Awards) (Details) - Restricted stock - $ / shares	3 Months Ended				9 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Number of shares, Outstanding, beginning of period			76,289		76,289
Number of shares, Granted	0	0	78,582	1,785	168,582
Number of shares, Forfeited					(10,200)
Number of shares, Vested					(14,489)
Number of shares, Outstanding at end of period	220,182			76,289	220,182
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Weighted Average Grant Date fair Value, beginning of period			$ 38.66		$ 38.66
Weighted Average Grant Date fair Value, Granted					57.23
Weighted Average Grant Date fair Value, Forfeited					48.09
Weighted Average Grant Date fair Value, Vested					30.45
Weighted Average Grant Date fair Value, at end of period	$ 52.98			$ 38.66	$ 52.98

STOCK COMPENSATION PLAN (Summ_4

STOCK COMPENSATION PLAN (Summary of Performance Based Stock Awards) (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average service inception date fair value of award shares			$ 5,721,300
Likely aggregate share payout			90,000
Compensation expense recognized	$ 1,100,000	$ 277,000
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate share payout			9,000
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate share payout			90,000
Performance-Based Restricted Stock Units (PRSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance period (in years)			3 years
Compensation expense recognized	$ 481,000	$ 358,000	$ 1,400,000	$ 1,100,000

STOCK COMPENSATION PLAN (Detail

STOCK COMPENSATION PLAN (Details) - USD ($)	May 28, 2019	Jan. 01, 2019	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding shares			231,000			231,000		231,000
Compensation expense recognized			$ 1,100,000				$ 277,000
Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost related to non-vested stock options			$ 3,900,000					$ 3,900,000
Number of shares, Granted			0	0	78,582	1,785		168,582
Remaining unrecognized compensation expense recognition period								2 years 25 days
Fair value of shares vested								$ 441,197
Compensation expense recognized								$ 2,300,000	$ 1,100,000
Restricted stock | Key Personnel
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period								3 years
Restricted stock | Non-employee directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost related to non-vested stock options			$ 100,000					$ 100,000
Compensation cost related to stock awards			100,000				100,000	$ 300,000	300,000
Number of shares, Granted		38,900
Service period (in years)								3 years
Vesting period								3 years
Remaining unrecognized compensation expense recognition period								3 months
Performance-Based Restricted Stock Units (PRSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance period (in years)								3 years
Number of PRSUs awarded								90,000
Compensation expense recognized			481,000				$ 358,000	$ 1,400,000	1,100,000
Equity Incentive Plan 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment award, shares authorized, maximum	340,000
Equity Incentive Plan 2019 | Stock Option | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of exercise price to the fair market value								100.00%
Equity Incentive Plan 2019 | Incentive stock options granted to any 10% stockholder | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of the exercise price to the fair market value of the shares covered by the stock option on the date of grant in the case of an ISO granted to 10% stockholder								110.00%
Equity Incentive Plan 2009
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding shares	468,382
Number of shares expired	628,719
Compensation cost related to stock awards								$ 0	$ 0
Equity Incentive Plan 2009 | Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost related to non-vested stock options			$ 0			$ 0		$ 0
Equity Incentive Plan 2009 | Equity Incentive Plan | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment award, exercise period from the grant date								10 years
Equity Incentive Plan 2009 | Incentive stock options | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment award, exercise period from the grant date								5 years

FAIR VALUE OF FINANCIAL INSTR_3

FAIR VALUE OF FINANCIAL INSTRUMENTS (Assets and Liabilities Measured at Fair Value on a Recurring Basis) (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020	Sep. 30, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	$ 607,474	$ 271,169
Amount of transfers of assets measured on a recurring basis out of Level 1 of the fair value hierarchy into Level 2	0		$ 0
Amount of transfers of assets measured on a recurring basis out of Level 2 of the fair value hierarchy into Level 1	0		$ 0
Fair value assets measured at fair value on a non-recurring basis	0	0
Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value liability	0
Carrying Amount | Residential mortgage securities | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	501,431	194,688
Carrying Amount | Commercial mortgage securities | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	18,256	33,492
Carrying Amount | CRA mutual fund | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	2,289	2,313
Carrying Amount | Derivative assets - interest rate cap | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	2,086	770
Carrying Amount | Asset-backed Securities | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	4,733
Carrying Amount | U.S. Government agency securities | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	67,231	37,916
Carrying Amount | Securities issued by states and political subdivisions in the U.S | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	11,517
Fair Value, Inputs, Level 1 | CRA mutual fund | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	2,289	2,313
Fair Value, Inputs, Level 2 | Residential mortgage securities | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	501,431	194,688
Fair Value, Inputs, Level 2 | Commercial mortgage securities | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	18,256	33,492
Fair Value, Inputs, Level 2 | Derivative assets - interest rate cap | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	2,086	770
Fair Value, Inputs, Level 2 | Asset-backed Securities | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	4,733
Fair Value, Inputs, Level 2 | U.S. Government agency securities | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	67,231	$ 37,916
Fair Value, Inputs, Level 2 | Securities issued by states and political subdivisions in the U.S | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value	$ 11,517

FAIR VALUE OF FINANCIAL INSTR_4

FAIR VALUE OF FINANCIAL INSTRUMENTS (Carrying Amount and Estimated Fair Values of Financial Instruments) (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Financial assets:
Debt securities available for sale	$ 603,168	$ 266,096
Securities held to maturity	2,074	2,827
Other investments
Other Investments	11,998	11,597
Financial liabilities:
Noninterest-bearing demand deposits	2,803,823	1,726,135
Carrying Amount
Financial assets:
Cash and due from banks	32,660	8,692
Overnight deposits	1,824,820	855,613
Debt securities available for sale	603,168	266,096
Securities held to maturity	2,017	2,760
Equity investments	2,289	2,313
Loans, net	3,565,167	3,101,646
Other investments
FRB Stock	7,430	7,381
FHLB Stock	3,070	2,718
Disability Fund	1,000	1,000
Time deposits at banks	498
CRA - CD		498
Accrued interest receivable	13,504	13,249
Financial liabilities:
Noninterest-bearing demand deposits	2,803,823	1,726,135
Money market and savings deposits	2,571,707	2,011,409
Time deposits	82,039	92,062
Trust preferred securities payable	20,620	20,620
Subordinated debt, net of issuance cost	24,698	24,657
Accrued interest payable	448	712
Secured Borrowings	35,559	36,964
Total Fair Value
Financial assets:
Cash and due from banks	32,660	8,692
Overnight deposits	1,824,820	855,613
Debt securities available for sale	603,168	266,096
Securities held to maturity	2,074	2,827
Equity investments	2,289	2,313
Loans, net	3,592,347	3,094,998
Other investments
Disability Fund	1,000	1,000
Time deposits at banks	498
CRA - CD		498
Accrued interest receivable	13,504	13,429
Financial liabilities:
Noninterest-bearing demand deposits	2,803,823	1,726,135
Money market and savings deposits	2,571,707	2,011,409
Time deposits	82,610	93,157
Trust preferred securities payable	20,002	20,011
Subordinated debt, net of issuance cost	25,438	25,375
Accrued interest payable	448	712
Secured Borrowings	35,559	36,964
Interest Rate Cap | Carrying Amount
Other investments
Derivative Asset	2,086
Interest rate cap derivative		770
Interest Rate Cap | Total Fair Value
Other investments
Derivative Asset	2,086
Interest rate cap derivative		770
Fair Value, Inputs, Level 1
Financial assets:
Cash and due from banks	32,660	8,692
Overnight deposits	1,824,820	855,613
Equity investments	2,289	2,313
Other investments
Time deposits at banks	498
CRA - CD		498
Financial liabilities:
Noninterest-bearing demand deposits	2,803,823	1,726,135
Money market and savings deposits	2,571,707	2,011,409
Accrued interest payable	3	7
Secured Borrowings	0
Fair Value, Inputs, Level 2
Financial assets:
Debt securities available for sale	603,168	266,096
Securities held to maturity	2,074	2,827
Other investments
Disability Fund	1,000	1,000
Accrued interest receivable	717	414
Financial liabilities:
Time deposits	82,610	93,157
Subordinated debt, net of issuance cost	25,438	25,375
Accrued interest payable	337	591
Secured Borrowings	35,559	36,964
Fair Value, Inputs, Level 2 | Interest Rate Cap
Other investments
Derivative Asset	2,086
Interest rate cap derivative		770
Fair Value, Inputs, Level 3
Financial assets:
Loans, net	3,592,347	3,094,998
Other investments
Accrued interest receivable	12,787	12,835
Financial liabilities:
Trust preferred securities payable	20,002	20,011
Accrued interest payable	108	$ 114
Secured Borrowings	$ 0

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE GAIN (LOSS) (Proceeds from sales and calls of securities and associated gains and losses) (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
Proceeds	$ 25,000	$ 43,241	$ 141,422
Gross gains		609	3,286
Tax impact		$ (195)	$ (1,036)

FINANCIAL INSTRUMENTS WITH OF_3

FINANCIAL INSTRUMENTS WITH OFF-BALANCE-SHEET RISK (Outstanding following off-balance-sheet financial instruments) (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Fixed Rate	$ 92,751	$ 53,288
Variable Rate	316,594	266,696
Undrawn lines of credit
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Fixed Rate	41,217	19,024
Variable Rate	316,594	266,696
Letters of credit
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Fixed Rate	51,534	34,264
Variable Rate	$ 0	$ 0

FINANCIAL INSTRUMENTS WITH OF_4

FINANCIAL INSTRUMENTS WITH OFF-BALANCE-SHEET RISK (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Amount of off-balance-sheet financial instruments	$ 92,751	$ 53,288
Maturity of stand by letters of credit and time deposits	one year
Minimum
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Fixed interest rate off-balance-sheet financial instruments	3.00%	3.00%
Variable interest rate off-balance-sheet financial instrument	1.80%	2.00%
Commitments term	1 year	1 year
Maximum
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Fixed interest rate off-balance-sheet financial instruments	5.60%	5.60%
Variable interest rate off-balance-sheet financial instrument	7.30%	8.30%
Commitments term	2 years
Letters of credit
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Amount of off-balance-sheet financial instruments	$ 51,534	$ 34,264
Amount of off-balance-sheet financial instruments collateral received	$ 37,300	$ 26,900

REVENUE FROM CONTRACTS WITH C_3

REVENUE FROM CONTRACTS WITH CUSTOMERS (Schedule of non-interest income) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Total non-interest income	$ 5,900	$ 3,637	$ 16,078	$ 10,286
Service charges on deposit accounts
Non-interest income	1,671	863	4,085	2,747
Prepaid third-party debit card income.
Non-interest income	3,615	2,572	10,509	6,301
Other service charges and fees
Non-interest income	$ 614	$ 202	$ 1,484	$ 1,238

DERIVATIVES - Derivative positi

DERIVATIVES - Derivative position (Details) - Derivatives designated as hedging instruments - Interest rate caps related to customer deposits $ in Thousands	Sep. 30, 2021USD ($)
Prepaid Expenses and Other Current Assets
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount, derivative asset	$ 300,000
Fair value	2,086
Deposit liability
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount, derivative liability	$ 300,000

DERIVATIVES - Cash flow hedge a

DERIVATIVES - Cash flow hedge accounting (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2021USD ($)
Derivatives designated as hedging instruments | Interest rate caps related to customer deposits | Cash flow hedge
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount of Loss Recognized in OCI on Derivative	$ 1,069