Meridian Bancorp (EBSB) 10-Q 10 Aug 20 2020 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2020	Jul. 31, 2020
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2
Trading Symbol	EBSB
Title of 12(b) Security	Common Stock
Security Exchange Name	NASDAQ
Entity Registrant Name	Meridian Bancorp, Inc.
Entity Central Index Key	0001600125
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity File Number	001-36573
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	46-5396964
Entity Address, Address Line One	67 Prospect Street
Entity Address, City or Town	Peabody
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	01960
City Area Code	617
Local Phone Number	567-1500
Document Quarterly Report	true
Document Transition Report	false
Entity Common Stock, Shares Outstanding		52,413,290

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($)	Jun. 30, 2020	Dec. 31, 2019
ASSETS
Cash and due from banks	$ 508,627,000	$ 406,382,000
Certificates of deposit		247,000
Securities available for sale, at fair value	13,022,000	15,076,000
Marketable equity securities, at fair value	16,401,000	15,243,000
Federal Home Loan Bank stock, at cost	33,282,000	28,947,000
Loans held for sale	3,682,000	2,455,000
Loans, net of deferred fees and costs	5,714,857,000	5,747,862,000
Less: allowance for loan losses	(60,547,000)	(50,322,000)
Loans, net	5,654,310,000	5,697,540,000
Bank-owned life insurance	41,334,000	41,155,000
Premises and equipment, net	67,098,000	65,841,000
Accrued interest receivable	17,300,000	14,481,000
Deferred tax asset, net	16,873,000	16,726,000
Goodwill	20,378,000	20,378,000
Core deposit intangible	1,887,000	2,123,000
Other assets	23,776,000	17,100,000
Total assets	6,417,970,000	6,343,694,000
Deposits:
Non interest-bearing	709,924,000	524,154,000
Interest-bearing	4,110,473,000	4,397,379,000
Total deposits	4,820,397,000	4,921,533,000
Short-term borrowings	25,000,000	0
Long-term debt	779,101,000	636,245,000
Accrued expenses and other liabilities	59,199,000	59,329,000
Total liabilities	5,683,697,000	5,617,107,000
Stockholders' equity:
Preferred stock, $0.01 par value, 50,000,000 shares authorized; none issued
Common stock, $0.01 par value, 100,000,000 shares authorized; 52,407,179 and 53,377,506 shares issued and outstanding at June 30, 2020 and December 31, 2019, respectively	524,000	534,000
Additional paid-in capital	361,980,000	377,213,000
Retained earnings	387,983,000	365,742,000
Accumulated other comprehensive income (loss)	100,000	(147,000)
Unearned compensation - ESOP, 2,252,627 and 2,313,509 shares at June 30, 2020 and December 31, 2019, respectively	(16,314,000)	(16,755,000)
Total stockholders' equity	734,273,000	726,587,000
Total liabilities and stockholders' equity	$ 6,417,970,000	$ 6,343,694,000

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Jun. 30, 2020	Dec. 31, 2019
Statement Of Financial Position [Abstract]
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	50,000,000	50,000,000
Preferred stock, shares issued	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	52,407,179	53,377,506
Common stock, shares outstanding	52,407,179	53,377,506
Unearned compensation, ESOP	2,252,627	2,313,509

Consolidated Statements of Net

Consolidated Statements of Net Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Interest and dividend income:
Interest and fees on loans	$ 61,445	$ 64,040	$ 125,482	$ 125,681
Interest on debt securities:
Taxable	75	108	162	218
Tax-exempt	12	13	25	26
Dividends on equity securities	145	142	239	247
Interest on certificates of deposit		28	1	55
Other interest and dividend income	473	1,943	2,259	4,520
Total interest and dividend income	62,150	66,274	128,168	130,747
Interest expense:
Interest on deposits	10,591	20,653	27,360	39,804
Interest on short-term borrowings	52		60	295
Interest on borrowings	4,136	3,151	8,279	5,581
Total interest expense	14,779	23,804	35,699	45,680
Net interest income	47,371	42,470	92,469	85,067
Provision for loan losses	9,641	78	10,366	921
Net interest income, after provision for loan losses	37,730	42,392	82,103	84,146
Non-interest income:
Customer service fees	1,948	2,288	4,045	4,385
Loan (costs) fees	(35)	53	639	130
Mortgage banking gains, net	118	101	529	141
Gain on sale of asset	4,195		4,195
Gain (loss) on marketable equity securities, net	2,025	223	(2,319)	1,549
Income from bank-owned life insurance	273	280	570	561
Gain on life insurance distribution	124		124
Other income	10	9	44	16
Total non-interest income	8,658	2,954	7,827	6,782
Non-interest expenses:
Salaries and employee benefits	13,858	14,916	29,772	30,548
Occupancy and equipment	3,739	3,650	7,663	7,246
Data processing	2,133	2,009	4,270	3,979
Marketing and advertising	1,030	1,299	2,260	2,461
Professional services	695	784	1,692	1,644
Deposit insurance	606	929	1,275	1,941
Other general and administrative	1,240	1,530	2,689	3,094
Total non-interest expenses	23,301	25,117	49,621	50,913
Income before income taxes	23,087	20,229	40,309	40,015
Provision for income taxes	5,808	5,061	10,053	9,776
Net income	$ 17,279	$ 15,168	$ 30,256	$ 30,239
Earnings per share:
Basic	$ 0.34	$ 0.30	$ 0.60	$ 0.59
Diluted	$ 0.34	$ 0.29	$ 0.60	$ 0.59
Weighted average shares outstanding:
Basic	50,131,249	51,051,880	50,383,116	51,086,050
Diluted	50,211,234	51,511,678	50,565,747	51,489,608

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Statement Of Income And Comprehensive Income [Abstract]
Net income	$ 17,279	$ 15,168	$ 30,256	$ 30,239
Securities available for sale:
Net unrealized gain on securities available for sale	113	194	343	450
Tax effect	(32)	(54)	(96)	(126)
Total other comprehensive income	81	140	247	324
Comprehensive income	$ 17,360	$ 15,308	$ 30,503	$ 30,563

Consolidated Statements of Chan

Consolidated Statements of Changes In Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Unearned Compensation - ESOP [Member]
Beginning Balance at Dec. 31, 2018	$ 674,654	$ 535	$ 378,583	$ 313,521	$ (348)	$ (17,637)
Beginning balance, shares at Dec. 31, 2018		53,541,429
Comprehensive income	15,255			15,071	184
Dividends declared	(3,569)			(3,569)
Repurchased stock related to buyback program	(1,647)	$ (1)	(1,646)
Repurchased stock related to buyback program, shares		(104,177)
ESOP shares committed to be allocated	479		258			221
Share-based compensation expense - restricted stock, net of awards forfeited	681		681
Share-based compensation expense - restricted stock, net of awards forfeited, shares		(455)
Share-based compensation expense - stock options, net of awards forfeited	407		407
Shares surrendered related to tax withholdings on stock options exercised	(71)		(71)
Shares surrendered related to tax withholdings on stock options exercised, shares		(4,458)
Stock options exercised	199	$ 1	198
Stock options exercised, shares		110,307
Ending Balance at Mar. 31, 2019	686,388	$ 535	378,410	325,023	(164)	(17,416)
Ending balance, shares at Mar. 31, 2019		53,542,646
Beginning Balance at Dec. 31, 2018	674,654	$ 535	378,583	313,521	(348)	(17,637)
Beginning balance, shares at Dec. 31, 2018		53,541,429
Comprehensive income	30,563
Ending Balance at Jun. 30, 2019	695,701	$ 533	375,760	336,628	(24)	(17,196)
Ending balance, shares at Jun. 30, 2019		53,321,805
Beginning Balance at Mar. 31, 2019	686,388	$ 535	378,410	325,023	(164)	(17,416)
Beginning balance, shares at Mar. 31, 2019		53,542,646
Comprehensive income	15,308			15,168	140
Dividends declared	(3,563)			(3,563)
Repurchased stock related to buyback program	(4,075)	$ (2)	(4,073)
Repurchased stock related to buyback program, shares		(236,842)
ESOP shares committed to be allocated	520		300			220
Share-based compensation expense - restricted stock, net of awards forfeited	689		689
Share-based compensation expense - restricted stock, net of awards forfeited, shares		11,820
Share-based compensation expense - stock options, net of awards forfeited	411		411
Stock options exercised	23		23
Stock options exercised, shares		4,181
Ending Balance at Jun. 30, 2019	695,701	$ 533	375,760	336,628	(24)	(17,196)
Ending balance, shares at Jun. 30, 2019		53,321,805
Beginning Balance at Dec. 31, 2019	$ 726,587	$ 534	377,213	365,742	(147)	(16,755)
Beginning balance, shares at Dec. 31, 2019	53,377,506	53,377,506
Comprehensive income	$ 13,143			12,977	166
Dividends declared	(4,007)			(4,007)
Repurchased stock related to buyback program	(17,680)	$ (10)	(17,670)
Repurchased stock related to buyback program, shares		(1,000,000)
ESOP shares committed to be allocated	507		287			220
Share-based compensation expense - restricted stock, net of awards forfeited	640		640
Share-based compensation expense - restricted stock, net of awards forfeited, shares		(5,245)
Share-based compensation expense - stock options, net of awards forfeited	380		380
Shares surrendered related to tax withholdings on stock options exercised, shares		(709)
Stock options exercised	51		51
Stock options exercised, shares		30,843
Ending Balance at Mar. 31, 2020	719,621	$ 524	360,901	374,712	19	(16,535)
Ending balance, shares at Mar. 31, 2020		52,402,395
Beginning Balance at Dec. 31, 2019	$ 726,587	$ 534	377,213	365,742	(147)	(16,755)
Beginning balance, shares at Dec. 31, 2019	53,377,506	53,377,506
Comprehensive income	$ 30,503
Ending Balance at Jun. 30, 2020	$ 734,273	$ 524	361,980	387,983	100	(16,314)
Ending balance, shares at Jun. 30, 2020	52,407,179	52,407,179
Beginning Balance at Mar. 31, 2020	$ 719,621	$ 524	360,901	374,712	19	(16,535)
Beginning balance, shares at Mar. 31, 2020		52,402,395
Comprehensive income	17,360			17,279	81
Dividends declared	(4,008)			(4,008)
ESOP shares committed to be allocated	338		117			221
Share-based compensation expense - restricted stock, net of awards forfeited	597		597
Share-based compensation expense - restricted stock, net of awards forfeited, shares		4,320
Share-based compensation expense - stock options, net of awards forfeited	362		362
Stock options exercised	3		3
Stock options exercised, shares		464
Ending Balance at Jun. 30, 2020	$ 734,273	$ 524	$ 361,980	$ 387,983	$ 100	$ (16,314)
Ending balance, shares at Jun. 30, 2020	52,407,179	52,407,179

Consolidated Statements of Ch_2

Consolidated Statements of Changes In Stockholders' Equity (Unaudited) (Parenthetical) - $ / shares	3 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Mar. 31, 2019
Dividends declared per share	$ 0.08	$ 0.08	$ 0.07	$ 0.07
ESOP shares earned	30,441	30,441	30,441	30,441
Common Stock [Member]
Dividends declared per share	$ 0.08	$ 0.08	$ 0.07	$ 0.07
ESOP shares earned	30,441	30,441	30,441	30,441
Additional Paid-in Capital [Member]
Dividends declared per share	$ 0.08	$ 0.08	$ 0.07	$ 0.07
ESOP shares earned	30,441	30,441	30,441	30,441
Retained Earnings [Member]
Dividends declared per share	$ 0.08	$ 0.08	$ 0.07	$ 0.07
ESOP shares earned	30,441	30,441	30,441	30,441
Accumulated Other Comprehensive Income (Loss) [Member]
Dividends declared per share	$ 0.08	$ 0.08	$ 0.07	$ 0.07
ESOP shares earned	30,441	30,441	30,441	30,441
Unearned Compensation - ESOP [Member]
Dividends declared per share	$ 0.08	$ 0.08	$ 0.07	$ 0.07
ESOP shares earned	30,441	30,441	30,441	30,441

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Cash flows from operating activities:
Net income	$ 30,256	$ 30,239
Adjustments to reconcile net income to net cash provided by operating activities:
Net amortization of acquisition fair value adjustments	34	34
Amortization of core deposit intangible	236	268
ESOP shares expense	845	999
Provision for loan losses	10,366	921
Accretion of net deferred loan origination fees	(1,700)	(1,000)
Net amortization of securities available for sale	29	21
Depreciation and amortization expense	1,692	1,560
Loss (gain) on marketable equity securities, net	2,319	(1,549)
Gain on sale of asset	(4,195)
Deferred income tax benefit	(243)	(231)
Income from bank-owned life insurance	(570)	(561)
Share-based compensation expense	1,979	2,188
Net changes in:
Loans held for sale	(1,227)	(1,696)
Accrued interest receivable	(2,819)	(1,169)
Other assets	(6,676)	(5,500)
Accrued expenses and other liabilities	(136)	2,747
Net cash provided by operating activities	30,190	27,271
Cash flows from investing activities:
Maturities of certificates of deposit	247
Activity in securities, at fair value:
Proceeds from maturities, calls and principal payments	2,369	1,075
Proceeds from sales	541	223
Purchases	(4,019)
Loan principal payments (originations), net	34,521	(171,933)
Proceeds from bank-owned life insurance distribution	391
Proceeds from sale of asset	5,836
Purchases of premises and equipment	(4,322)	(3,934)
Purchase of Federal Home Loan Bank stock	(4,335)	(1,092)
Redemption of Federal Home Loan Bank stock		2,810
Net cash provided by (used in) investing activities	31,229	(172,851)
Cash flows from financing activities:
Net change in deposits	(101,127)	134,129
Net change in borrowings with maturities less than three months		(50,000)
Proceeds from Federal Home Loan Bank advances with maturities of three months or more	135,000	120,000
Repayment of Federal Home Loan Bank advances with maturities of three months or more	(90,620)	(56,792)
Cash dividends paid on common stock	(8,277)	(7,131)
Stock options exercised, net of cash paid in connection with income taxes	54	151
Repurchase of common stock	(17,680)	(5,722)
Net cash provided by financing activities	40,826	134,635
Net change in cash and cash equivalents	102,245	(10,945)
Cash and cash equivalents at beginning of period	406,382	371,995
Cash and cash equivalents at end of period	508,627	361,050
Supplemental cash flow information:
Interest paid on deposits	30,061	38,934
Interest paid on borrowings	8,431	5,562
Income taxes paid, net of refunds	6,420	$ 11,485
Paycheck Protection Program Liquidity Facility [Member]
Cash flows from financing activities:
Proceeds from Federal Reserve PPPLF borrowings with maturities of three months or more	$ 123,476

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2020
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Basis of Presentation	1 . The consolidated financial statements include the accounts of Meridian Bancorp, Inc. (the “Company”) and all other entities in which it has a controlling financial interest. The Company owns 100% of the outstanding shares of East Boston Savings Bank (the “Bank”). The Bank’s subsidiaries include: (1) Prospect, Inc., which engages in securities transactions on its own behalf; (2) EBOSCO, LLC, which can hold foreclosed real estate; and (3) East Boston Investment Services, Inc., which is authorized for third-party investment sales and is currently inactive and Investment in Affordable Home Ownership, LLC, which is authorized to form partnerships with agencies to develop projects for affordable housing and is currently inactive. All significant intercompany balances and transactions have been eliminated in consolidation. The accompanying unaudited interim consolidated financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by such generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments considered necessary for a fair presentation have been included. Such adjustments were of a normal recurring nature. The results of operations for the three and six months ended June 30, 2020 are not necessarily indicative of the results that may be expected for the entire year or any other interim period. For additional information, refer to the financial statements and footnotes thereto of the Company included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019, which was filed with the Securities and Exchange Commission (“SEC”) on March 2, 2020, and is available through the SEC’s website at www.sec.gov In preparing consolidated financial statements in conformity with GAAP, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the consolidated balance sheet and reported amounts of revenues and expenses during the reported period. Actual results could differ from those estimates. A material estimate that is particularly susceptible to significant change in the near term relates to the determination of the allowance for loan losses.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	6 Months Ended
	Jun. 30, 2020
New Accounting Pronouncements And Changes In Accounting Principles [Abstract]
Recent Accounting Pronouncements	2. RECENT ACCOUNTING PRONOUNCEMENTS Adopted During the Period In January 2017, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) No. 2017-04, Intangibles — Goodwill and Other (Topic 350). The update intends to simplify the subsequent measurement of goodwill by requiring an entity to compare the fair value of a reporting unit to its carrying value, including goodwill. An entity should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value; however, the impairment charge should not exceed the total amount of goodwill allocated to that reporting unit. ASU 2017-04 became effective for the Company on January 1, 2020 is not expected to have a material impact on the Company’s financial statements. Goodwill testing will be completed during the fourth quarter or at such time as determined through a detailed assessment by management. In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement (Topic 820). The update modifies the disclosure requirements primarily related to level 3 fair value measurements of the fair value hierarchy. ASU 2018-13 became effective for the Company on January 1, 2020 and did not have a material impact on the Company’s financial statement disclosures. To be Adopted in Future Periods In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments – Credit Losses (Topic 326). The main objective of this update is to provide financial statement users with more decision-useful information about the expected credit losses on financial instruments, including loans, held-to-maturity debt securities and commitments to extend credit held by a reporting entity at each reporting date. To achieve this objective, the amendments in this update replace the incurred loss impairment methodology in current GAAP with a methodology, referred to as Current Expected Credit Loss, or CECL, that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to formulate credit loss estimates. Credit losses on available-for-sale debt securities will be measured in a manner similar to current GAAP but will be recognized through an allowance rather than as a direct write-down. This update was to be effective for the Company on January 1, 2020. Based upon the parallel run for the fourth quarter of 2019, the Company had expected the adoption of the ASU to result in an approximate 15% decrease to its allowance for loan losses. The Coronavirus Aid, Relief, and Economic Security (“CARES”) Act, a stimulus package signed into law on March 27, 2020 to address economic disruption caused by the COVID-19 pandemic, provides financial institutions with the option to defer adoption of ASU No. 2016-03 until the earlier of the end of the pandemic or the end of 2020. The Company has chosen to defer adoption of ASU No. 2016-13 based on management’s belief that the incurred loss impairment methodology provides a more practical measurement of credit losses in the current economic environment. Upon the Company’s future adoption of CECL, the change from the incurred loss methodology to the CECL methodology will be recognized through an adjustment to retained earnings.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2020
Earnings Per Share [Abstract]
Earnings Per Share	3. EARNINGS PER SHARE Basic earnings per share excludes dilution and is calculated by dividing net income available to common stockholders by the weighted-average number of common shares outstanding during the period. Rights to dividends on unvested stock awards are non-forfeitable, therefore these unvested stock awards are considered outstanding in the computation of basic earnings per share. Diluted earnings per share is computed in a manner similar to that of basic earnings per share except that the weighted-average number of common shares outstanding is increased to include the number of incremental common shares (computed using the treasury method) that would have been outstanding if all potentially dilutive common stock equivalents (such as options) were issued during the period. Unallocated common shares held by the ESOP are shown as a reduction in stockholders’ equity and are not included in the weighted-average number of common shares outstanding for either basic or diluted earnings per share calculations. Basic and diluted earnings per share have been computed based on the following: Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 (Dollars in thousands, except share information) Net income available to common stockholders $ 17,279 $ 15,168 $ 30,256 $ 30,239 Basic weighted average shares outstanding 50,131,249 51,051,880 50,383,116 51,086,050 Effect of dilutive stock options 79,985 459,798 182,631 403,558 Diluted weighted average shares outstanding 50,211,234 51,511,678 50,565,747 51,489,608 Earnings per share: Basic $ 0.34 $ 0.30 $ 0.60 $ 0.59 Diluted $ 0.34 $ 0.29 $ 0.60 $ 0.59 For the three months ended June 30, 2020 and 2019, options for the exercise of 168,335 shares and 121,608 shares, respectively, were not included in the calculation of diluted earnings per share because to do so would have been anti-dilutive. For the six months ended June 30, 2020 and 2019, options for the exercise of 130,940 and 131,068 shares, respectively, were not included in the calculation of diluted earnings per share because to do so would have been anti-dilutive. An anti-dilutive option exists when the average stock price for the period is less than the exercise price of the option.

Securities

Securities	6 Months Ended
	Jun. 30, 2020
Investments Debt And Equity Securities [Abstract]
Securities	4. SECURITIES Securities Available for Sale The amortized cost and fair values of securities available for sale, with gross unrealized gains and losses, follows: Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (In thousands) June 30, 2020 Debt securities: Government-sponsored enterprises $ 373 $ 18 $ — $ 391 Municipal bonds 2,080 121 — 2,201 Residential mortgage-backed securities: Government-sponsored enterprises 9,331 412 (9 ) 9,734 Private label 575 121 — 696 Total securities available for sale $ 12,359 $ 672 $ (9 ) $ 13,022 December 31, 2019 Debt securities: Government-sponsored enterprises $ 1,528 $ 28 $ — $ 1,556 Municipal bonds 2,085 66 — 2,151 Residential mortgage-backed securities: Government-sponsored enterprises 10,559 168 (34 ) 10,693 Private label 584 92 — 676 Total securities available for sale $ 14,756 $ 354 $ (34 ) $ 15,076 At June 30, 2020 debt securities with a fair value of $2.0 million and $281,000 were pledged as collateral for Federal Home Loan Bank of Boston (“FHLB”) borrowings and for the Federal Reserve Bank discount window borrowings, respectively. The amortized cost and fair value of debt securities by contractual maturity at June 30, 2020 are as follows. Expected maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations with or without prepayment penalties. After One Year Through Five Years After Five Years Total Amortized Fair Amortized Fair Amortized Fair Cost Value Cost Value Cost Value (In thousands) Government-sponsored enterprises $ — $ — $ 373 $ 391 $ 373 $ 391 Municipal bonds 272 288 1,808 1,913 2,080 2,201 Residential mortgage-backed securities: Government-sponsored enterprises 508 520 8,823 9,214 9,331 9,734 Private label — — 575 696 575 696 Total $ 780 $ 808 $ 11,579 $ 12,214 $ 12,359 $ 13,022 Information pertaining to securities available for sale as of June 30, 2020 and December 31, 2019, with gross unrealized losses aggregated by investment category and length of time that individual securities have been in a continuous loss position, follows: Less Than Twelve Months Twelve Months or Longer Gross Gross Unrealized Fair Unrealized Fair Losses Value Losses Value (In thousands) June 30, 2020 Debt securities: Residential mortgage-backed securities: Government-sponsored enterprises $ 6 $ 479 $ 3 $ 377 Total temporarily impaired securities $ 6 $ 479 $ 3 $ 377 Less Than Twelve Months Twelve Months or Longer Gross Gross Unrealized Fair Unrealized Fair Losses Value Losses Value (In thousands) December 31, 2019 Debt securities: Residential mortgage-backed securities: Government-sponsored enterprises $ — $ — $ 34 $ 3,370 Total temporarily impaired securities $ — $ — $ 34 $ 3,370 The Company determined no debt securities were other-than-temporarily impaired for the six months ended June 30, 2020 and 2019. Management evaluates debt securities for other-than-temporary impairment on a quarterly basis, with more frequent evaluation for selected issuers or when economic or market concerns warrant such evaluations. Marketable Equity Securities Marketable equity securities consist of common stocks and money market mutual funds. The Company held equity securities with an aggregate fair value of $16.4 million and $15.2 million at June 30, 2020 and December 31, 2019, respectively. The following is a summary of unrealized and realized gains and losses recognized in net income on marketable equity securities during the three and six months ended June 30, 2020 and 2019: Three Months Ended Six Months Ended June 30, 2020 June 30, 2019 June 30, 2020 June 30, 2019 (In thousands) Net realized loss on marketable equity securities sold during the period $ — $ (155 ) $ (337 ) $ (155 ) Net unrealized gain (loss) recognized during the reporting period on marketable equity securities still held at the reporting date 2,025 378 (1,982 ) 1,704 Net gain (loss) recognized during the period on marketable equity securities $ 2,025 $ 223 $ (2,319 ) $ 1,549

Loans

Loans	6 Months Ended
	Jun. 30, 2020
Receivables [Abstract]
Loans	5. LOANS A summary of loans follows: June 30, 2020 December 31, 2019 Amount Percent Amount Percent (Dollars in thousands) Real estate loans: Residential real estate: One- to four-family $ 635,683 11.1 % $ 659,366 11.5 % Home equity lines of credit 74,246 1.3 69,491 1.2 Multi-family 941,922 16.4 1,003,418 17.4 Commercial real estate 2,556,088 44.7 2,696,671 46.9 Construction 742,845 13.0 707,370 12.3 Total real estate loans 4,950,784 86.5 5,136,316 89.3 Commercial and industrial 760,546 13.3 604,889 10.5 Consumer 11,867 0.2 12,196 0.2 Total loans 5,723,197 100.0 % 5,753,401 100.0 % Allowance for loan losses (60,547 ) (50,322 ) Net deferred loan origination fees (8,340 ) (5,539 ) Loans, net $ 5,654,310 $ 5,697,540 The Company has transferred a portion of its originated commercial real estate loans to participating lenders. The amounts transferred have been accounted for as sales and are therefore not included in the Company’s accompanying balance sheets. The Company and participating lenders share ratably in any gains or losses that may result from a borrower’s lack of compliance with contractual terms of the loan. The Company continues to service the loans on behalf of the participating lenders and, as such, collects cash payments from the borrowers, remits payments to participating lenders and disburses required escrow funds to relevant parties. At June 30, 2020 and December 31, 2019 , the Company was servicing loans for participants aggregating $ million and $ million, respectively. At June 30, 2020, multi-family and commercial real estate loans with carrying values totaling $347.6 million and $1.440 billion, respectively, were pledged as collateral for FHLB borrowings. An analysis of the allowance for loan losses and related information follows: Three Months Ended June 30, 2020 One- to four- family Multi- family Home equity lines of credit Commercial real estate Construction Commercial and industrial Consumer Total (In thousands) Balance at March 31, 2020 $ 794 $ 7,680 $ 94 $ 26,728 $ 9,457 $ 6,114 $ 79 $ 50,946 Provision (reversal) for loan losses 723 797 84 4,941 1,834 1,296 (34 ) 9,641 Charge-offs — — — — — (83 ) (16 ) (99 ) Recoveries 13 — — — — 5 41 59 Balance at June 30, 2020 $ 1,530 $ 8,477 $ 178 $ 31,669 $ 11,291 $ 7,332 $ 70 $ 60,547 Three Months Ended June 30, 2019 One- to four- family Multi- family Home equity lines of credit Commercial real estate Construction Commercial and industrial Consumer Total (In thousands) Balance at March 31, 2019 $ 897 $ 8,382 $ 61 $ 28,194 $ 10,020 $ 6,353 $ 90 $ 53,997 Provision (reversal) for loan losses (62 ) 211 4 (413 ) 234 71 33 78 Charge-offs — — — — — (186 ) (60 ) (246 ) Recoveries — — 1 5 — — 30 36 Balance at June 30, 2019 $ 835 $ 8,593 $ 66 $ 27,786 $ 10,254 $ 6,238 $ 93 $ 53,865 Six Months Ended June 30, 2020 One- to four- family Multi- family Home equity lines of credit Commercial real estate Construction Commercial and industrial Consumer Total (In thousands) Balance at December 31, 2019 $ 691 $ 7,825 $ 69 $ 26,943 $ 8,913 $ 5,765 $ 116 $ 50,322 Provision (reversal) for loan losses 826 652 108 4,726 2,378 1,694 (18 ) 10,366 Charge-offs — — — — — (133 ) (80 ) (213 ) Recoveries 13 — 1 — — 6 52 72 Balance at June 30, 2020 $ 1,530 $ 8,477 $ 178 $ 31,669 $ 11,291 $ 7,332 $ 70 $ 60,547 Six Months Ended June 30, 2019 One- to four- family Multi- family Home equity lines of credit Commercial real estate Construction Commercial and industrial Consumer Total (In thousands) Balance at December 31, 2018 $ 1,033 $ 8,240 $ 70 $ 27,785 $ 9,755 $ 6,236 $ 112 $ 53,231 Provision (reversal) for loan losses (198 ) 353 (6 ) (4 ) 499 198 79 921 Charge-offs — — — — — (196 ) (137 ) (333 ) Recoveries — — 2 5 — — 39 46 Balance at June 30, 2019 $ 835 $ 8,593 $ 66 $ 27,786 $ 10,254 $ 6,238 $ 93 $ 53,865 One- to four- family Multi- family Home equity lines of credit Commercial real estate Construction Commercial and industrial Consumer Total (In thousands) June 30, 2020 Amount of allowance for loan losses for loans deemed to be impaired $ 7 $ — $ — $ — $ — $ — $ — $ 7 Amount of allowance for loan losses for loans not deemed to be impaired 1,523 8,477 178 31,669 11,291 7,332 70 60,540 $ 1,530 $ 8,477 $ 178 $ 31,669 $ 11,291 $ 7,332 $ 70 $ 60,547 Loans deemed to be impaired $ 1,212 $ — $ — $ 2,132 $ — $ 2,215 $ — $ 5,559 Loans not deemed to be impaired 634,471 941,922 74,246 2,553,956 742,845 758,331 11,867 5,717,638 $ 635,683 $ 941,922 $ 74,246 $ 2,556,088 $ 742,845 $ 760,546 $ 11,867 $ 5,723,197 December 31, 2019 Amount of allowance for loan losses for loans deemed to be impaired $ 36 $ — $ — $ — $ — $ 40 $ — $ 76 Amount of allowance for loan losses for loans not deemed to be impaired 655 7,825 69 26,943 8,913 5,725 116 50,246 $ 691 $ 7,825 $ 69 $ 26,943 $ 8,913 $ 5,765 $ 116 $ 50,322 Loans deemed to be impaired $ 1,268 $ 252 $ — $ 2,399 $ — $ 2,386 $ — $ 6,305 Loans not deemed to be impaired 658,098 1,003,166 69,491 2,694,272 707,370 602,503 12,196 5,747,096 $ 659,366 $ 1,003,418 $ 69,491 $ 2,696,671 $ 707,370 $ 604,889 $ 12,196 $ 5,753,401 The following table provides information about the Company’s past due and non-accrual loans: 30-59 60-89 90 Days Days Days or Greater Total Loans on Past Due Past Due Past Due Past Due Non-accrual (In thousands) June 30, 2020 Real estate loans: Residential real estate: One- to four-family $ 339 $ 329 $ 878 $ 1,546 $ 3,074 Home equity lines of credit — — 20 20 20 Multi-family 1,680 — — 1,680 — Commercial real estate — 194 — 194 194 Total real estate loans 2,019 523 898 3,440 3,288 Commercial and industrial — — 523 523 532 Consumer 731 570 — 1,301 — Total $ 2,750 $ 1,093 $ 1,421 $ 5,264 $ 3,820 December 31, 2019 Real estate loans: Residential real estate: One- to four-family $ 610 $ 164 $ 604 $ 1,378 $ 3,082 Home equity lines of credit — — — — — Commercial real estate — — — — — Total real estate loans 610 164 604 1,378 3,082 Commercial and industrial 8 — 323 331 323 Consumer 717 765 — 1,482 — Total $ 1,335 $ 929 $ 927 $ 3,191 $ 3,405 At June 30, 2020 and December 31, 2019, the Company did not have any accruing loans past due 90 days or more. The following tables provide information with respect to the Company’s impaired loans: June 30, 2020 December 31, 2019 Unpaid Unpaid Recorded Principal Related Recorded Principal Related Investment Balance Allowance Investment Balance Allowance (In thousands) Impaired loans without a valuation allowance: One- to four-family $ 655 $ 991 $ 570 $ 908 Multi-family — — 252 252 Commercial real estate 2,132 2,132 2,399 2,399 Commercial and industrial 2,215 2,545 323 653 Total 5,002 5,668 3,544 4,212 Impaired loans with a valuation allowance: One- to four-family 557 557 $ 7 698 698 $ 36 Commercial and industrial — — — 2,063 2,063 40 Total 557 557 7 2,761 $ 2,761 76 Total impaired loans $ 5,559 $ 6,225 $ 7 $ 6,305 $ 6,973 $ 76 Three Months Ended June 30, 2020 2019 Interest Interest Average Interest Income Average Interest Income Recorded Income Recognized Recorded Income Recognized Investment Recognized on Cash Basis Investment Recognized on Cash Basis (In thousands) One- to four-family $ 1,213 $ 13 $ 6 $ 1,297 $ 13 $ 8 Multi-family — — — 1,112 16 — Commercial real estate 2,136 21 — 758 9 4 Commercial and industrial 2,495 17 — 1,351 16 — Total impaired loans $ 5,844 $ 51 $ 6 $ 4,518 $ 54 $ 12 Six Months Ended June 30, 2020 2019 Interest Interest Average Interest Income Average Interest Income Recorded Income Recognized Recorded Income Recognized Investment Recognized on Cash Basis Investment Recognized on Cash Basis (In thousands) One- to four-family $ 1,216 $ 27 $ 14 $ 1,304 $ 21 $ 12 Multi-family — — — 1,168 34 — Commercial real estate 2,049 42 — 766 17 7 Commercial and industrial 2,517 43 — 1,416 32 — Total impaired loans $ 5,782 $ 112 $ 14 $ 4,654 $ 104 $ 19 The following table summarizes the Company’s troubled debt restructurings (“TDRs”) at the dates indicated: June 30, December 31, 2020 2019 (In thousands) TDRs on accrual status: One- to four-family $ 2,055 $ 2,084 Multi-family — 252 Total TDRs on accrual status 2,055 2,336 TDRs on non-accrual status: One- to four-family 655 706 Total TDRs on non-accrual status 655 706 Total TDRs $ 2,710 $ 3,042 The Company generally places loans modified as TDRs on non-accrual status for a minimum period of six months. Loans modified as TDRs qualify for return to accrual status once they have demonstrated performance with the modified terms of the loan agreement for a minimum of six consecutive months and future payments are reasonably assured. TDRs are initially reported as impaired loans with an allowance established as part of the allocated component of the allowance for loan losses when the discounted cash flows of the impaired loan is lower than the carrying value of that loan. TDRs may be removed from impairment disclosures in the year following the restructure if the borrower demonstrates compliance with the modified terms and the restructuring agreement specifies an interest rate equal to that which would be provided to a borrower with similar credit at the time of restructuring. Refer to Troubled Debt Restructurings and Other Loan Modifications, in Management’s Discussion and Analysis of Financial Condition and Results of Operations within this report for more detail regarding loans deferred or modified under the CARES Act and not included in TDRs. The Company utilizes a ten-grade internal loan rating system for multi-family, commercial real estate, construction, and commercial and industrial loans as follows: • Loans rated 1 - 6: Loans in these categories are considered “pass” rated loans with low to average risk. • Loans rated 7: Loans in these categories are considered “special mention.” These loans are starting to show signs of potential weakness and are being closely monitored by management. • Loans rated 8: Loans in this category are considered “substandard.” Generally, a loan is considered substandard if it is inadequately protected by the current net worth, generation of cash flows, and paying capacity of the obligors and/or the collateral pledged. There is a distinct possibility that the Company will sustain some loss if the weakness is not corrected. • Loans rated 9: Loans in this category are considered “doubtful.” Loans classified as doubtful have all the weaknesses inherent in those classified substandard with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, highly questionable and improbable. • Loans rated 10: Loans in this category are considered uncollectible (“loss”) and of such little value that their continuance as loans is not warranted. On an annual basis, or more often if needed, the Company formally reviews the ratings on multi-family, commercial real estate, construction, and commercial and industrial loans. The Company also engages an independent third-party to review a significant portion of loans within these segments on at least an annual basis. Management uses the results of these reviews as part of its annual review process. The following table provides the Company’s risk-rated loans by class: June 30, 2020 December 31, 2019 Multi-family Commercial Multi-family Commercial residential Commercial and residential Commercial and real estate real estate Construction industrial real estate real estate Construction industrial (In thousands) Loans rated 1 - 6 $ 941,324 $ 2,539,956 $ 742,845 $ 719,158 $ 1,000,783 $ 2,679,330 $ 707,370 $ 573,835 Loans rated 7 598 15,860 — 16,398 — 16,626 — 2,009 Loans rated 8 — 272 — 24,990 2,635 715 — 29,045 Loans rated 9 — — — — — — — — Loans rated 10 — — — — — — — — Total $ 941,922 $ 2,556,088 $ 742,845 $ 760,546 $ 1,003,418 $ 2,696,671 $ 707,370 $ 604,889 For one- to four-family residential real estate loans, home equity lines of credit and consumer loans, management uses delinquency reports as the key credit quality indicator.

Deposits

Deposits	6 Months Ended
	Jun. 30, 2020
Banking And Thrift [Abstract]
Deposits	6. DEPOSITS A summary of deposit balances, by type, follows: June 30, December 31, 2020 2019 (In thousands) Noninterest-bearing demand deposits $ 709,924 $ 524,154 Interest-bearing demand deposits 1,291,458 1,269,211 Money market deposits 753,980 675,702 Regular savings and other deposits 833,951 882,550 Total non-certificate accounts 3,589,313 3,351,617 Term certificates less than $250,000 895,296 1,206,598 Term certificates $250,000 and greater 335,788 363,318 Total certificate accounts 1,231,084 1,569,916 Total deposits $ 4,820,397 $ 4,921,533 A summary of term certificates, by maturity, follows: June 30, 2020 December 31, 2019 Weighted Weighted Maturing Amount Average Rate Amount Average Rate (Dollars in thousands) Within 1 year $ 894,893 1.69 % $ 1,316,791 2.16 % Over 1 year to 2 years 257,902 1.34 166,862 1.75 Over 2 years to 3 years 52,675 2.00 60,462 2.29 Over 3 years to 4 years 16,538 1.45 16,658 2.01 Over 4 years to 5 years 9,076 1.48 9,143 1.72 $ 1,231,084 1.63 % $ 1,569,916 2.12 % The Company had certificates of deposit accounts obtained through a listing service included in term certificates in the table above, totaling $76.3 million with a weighted average rate of 0.90% and $36.5 million with a weighted average rate of 2.35% at June 30, 2020 and December 31, 2019, respectively. The Company had brokered certificates of deposit, which are included in term certificates in the table above, totaling $165.1 million with a weighted average rate of 1.94% and $404.5 million with a weighted average rate of 2.19% at June 30, 2020 and December 31, 2019, respectively. In addition, the Company had $175.6 million and $150.6 million in brokered interest-bearing demand deposits at June 30, 2020 and December 31, 2019, respectively.

Borrowings

Borrowings	6 Months Ended
	Jun. 30, 2020
Debt Disclosure [Abstract]
Borrowings	7. BORROWINGS At June 30, 2020, short-term borrowings consist of an FHLB advance totaling $25.0 million with a rate of 0.81% and an original maturity of less than one year. At December 31, 2019, the Company had no short-term borrowings. At June 30, 2020, long-term debt consisted of $655.6 million in FHLB advances and $123.5 million in borrowings from the Federal Reserve Bank discount window through the Paycheck Protection Program Liquidity Facility (“PPPLF”). The Company has an available line of credit of $9.4 million with the FHLB at an interest rate that adjusts daily. No amounts were drawn on the line of credit at June 30, 2020 or December 31, 2019. Long-term, fixed rate FHLB advances and maturities are as follows: June 30, 2020 December 31, 2019 Weighted Weighted Amount Average Rate Amount Average Rate (Dollars in thousands) 2020 $ 45,000 2.16 % $ 135,620 2.30 % 2021 50,000 1.18 25,000 1.70 2022 150,625 2.00 150,625 2.00 2023 295,000 3.10 295,000 3.10 2024 20,000 2.61 20,000 2.61 2025 85,000 1.00 — — Thereafter 10,000 1.21 10,000 1.21 $ 655,625 2.32 % $ 636,245 2.57 % At June 30, 2020, FHLB advances totaling $445.0 million, with a weighted average rate of 2.53%, are callable by the FHLB prior to maturity. All borrowings from the FHLB are secured by investment securities and qualified collateral, consisting of a blanket lien on one- to four-family loans and certain multi-family and commercial real estate loans held in the Company’s portfolio. At June 30, 2020, the Company pledged multi-family and commercial real estate loans with carrying values totaling $347.6 million and $1.440 billion, respectively. At June 30, 2020, the Company had $123.5 million in borrowings from the PPPLF program. These borrowings have maturities ranging from two to five years and a rate of 0.35%. At December 31, 2019, the Company had no borrowings through the PPPLF program.

Commitments and Contingencies a

Commitments and Contingencies and Derivatives	6 Months Ended
	Jun. 30, 2020
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies and Derivatives	8. COMMITMENTS AND CONTINGENCIES AND DERIVATIVES In the normal course of business, there are outstanding commitments and contingencies which are not reflected in the accompanying consolidated financial statements. Loan Commitments The Company is party to financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its customers and to reduce its own exposure to fluctuations in interest rates. The instruments involve, to varying degrees, elements of credit and interest rate risk in excess of the amount recognized in the accompanying consolidated balance sheets. The contract amounts of those instruments reflect the extent of involvement the Company has in particular classes of financial instruments. The Company’s exposure to credit loss in the event of nonperformance by the counterparty to the financial instrument for loan commitments is represented by the contractual amount of those instruments. The Company uses the same credit policies in making commitments as it does for on-balance sheet instruments. A summary of outstanding loan commitments whose contract amounts represent credit risk is as follows: June 30, December 31, 2020 2019 (In thousands) Unadvanced portion of existing loans: Construction $ 508,449 $ 402,393 Home equity lines of credit 85,200 82,362 Other lines and letters of credit 406,162 363,955 Commitments to originate: One- to four-family 29,709 26,246 Commercial real estate 12,014 63,344 Construction 63,053 333,870 Commercial and industrial 23,070 16,655 Other loans 100 100 Total loan commitments outstanding $ 1,127,757 $ 1,288,925 Commitments to originate loans are agreements to lend to a customer provided there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Since a portion of the commitments are expected to expire without being drawn upon, the total commitments do not necessarily represent future cash requirements. The Company evaluates each customer’s credit worthiness on a case by case basis. The amount of collateral obtained, if deemed necessary by the Company for the extension of credit, is based upon management’s credit evaluation of the borrower. Collateral held includes, but is not limited to, residential real estate and deposit accounts. Unfunded commitments under lines of credit are commitments for possible future extensions of credit to existing customers. These lines of credit are collateralized if deemed necessary and usually do not contain a specified maturity date and may not be drawn upon to the total extent to which the Company is committed. Letters of credit are conditional commitments issued by the Company to guarantee the performance of a customer to a third party. Those letters of credit are primarily issued to support borrowing arrangements. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending loan facilities to customers. Interest Rate Swaps The Company is a party to interest rate derivatives that are not designated as hedging instruments. These derivatives relate to interest rate swaps that the Company enters into with commercial business customers to synthetically convert their loans from a variable rate to a fixed rate. The Company pays interest to the customer at a floating rate on the notional amount and receives interest from the customer at a fixed rate for the same notional amount. Concurrently, the Company enters into an offsetting interest rate swap with a third-party financial institution. In the offsetting swap, the Company pays the other financial institution interest at the same fixed rate on the same notional amount as the swap entered into with the customer and receives interest from the financial institution for the same floating rate on the same notional amount. The changes in the fair value of the swaps offset each other, except for the credit risk of the counterparties, which is determined by taking into consideration the risk rating and probability of default. At June 30, 2020 , the Company had $ million in cash pledged for collateral on its interest rate swaps with the third-party financial institution. At December 31, 201 9 , the Company had $5.4 million in cash pledged for collateral on its interest rate swaps with the third-party financial institution. Summary information regarding these derivatives is presented below: June 30, 2020 December 31, 2019 Maturity Interest Rate Paid Interest Rate Received Notional Amount Fair Value Asset (Liability) Notional Amount Fair Value Asset (Liability) (Dollars in thousands) Customer interest rate swap 06/07/32 1 Mo. Libor + 200bp Fixed (4.40%) $ 61,612 $ 11,058 $ 62,425 $ 3,625 Third-party interest rate swap 06/07/32 Fixed (4.40%) 1 Mo. Libor + 200bp 61,612 (11,058 ) 62,425 (3,625 ) Customer interest rate swap 10/17/33 1 Mo. Libor + 175bp Fixed (4.1052%) $ 10,003 $ 1,639 $ 10,166 $ 918 Third-party interest rate swap 10/17/33 Fixed (4.1052%) 1 Mo. Libor + 175bp 10,003 (1,639 ) 10,166 (918 ) Customer interest rate swap 12/13/26 1 Mo. Libor + 205bp Fixed (3.82%) $ 2,476 $ 184 $ 2,561 $ 18 Third-party interest rate swap 12/13/26 Fixed (3.82%) 1 Mo. Libor + 205bp 2,476 (184 ) 2,561 (18 ) Other Commitments As of June 30, 2020, the Company has an outstanding commitment of $6.5 million with its core data processing provider through December 2021. Employment and Change in Control Agreements The Company has entered into employment agreements with certain senior executives which provide for a minimum annual salary, subject to increase at the discretion of the Board of Directors, and other benefits, including a severance payment in the event employment is terminated in conjunction with a defined change in control. The agreements may be terminated for cause by the Company without further liability on the part of the Company, or by the executives with prior written notice to the Board of Directors. The Company also has change in control agreements with several officers which provide a severance payment in the event employment is terminated in conjunction with a defined change in control. Legal Claims Various legal claims may arise from time to time in the normal course of business, but in the opinion of management, these claims are not expected to have a material effect on the Company’s consolidated financial statements. Cold Spring Green, LLC and Hisham Ashkouri v. East Boston Savings Bank and Meridian Interstate Bancorp, Inc. The Bank is a defendant in a lawsuit that was filed in 2015 in Middlesex Superior Court in Massachusetts. The plaintiffs seek damages related to the foreclosure of a loan that was originated in 2007 by Mt. Washington Bank, which the Bank acquired in 2010. A similar suit by the same plaintiffs was filed in 2013 but subsequently dismissed. Following a trial in October 2019, the jury returned a verdict that rejected each of the plaintiffs’ claims for breach of contract, fraudulent inducement and unjust enrichment. However, the jury found, in an advisory verdict, that the Bank intentionally acted unfairly and deceptively in violation of Massachusetts General Laws Chapter 93A (“G.L. c. 93A”), which states: "Unfair methods of competition and unfair or deceptive acts or practices in the conduct of any trade or commerce are hereby declared unlawful." The jury found that the Bank caused the plaintiffs damages in the amount of $1.0 million. On November 25, 2019, the trial judge issued an opinion on the G.L. c. 93A count, adopting the jury’s advisory verdict and awarding the plaintiffs $1.0 million, which was then doubled as provided for in the statute for what was deemed to be a knowing and willing act on the part of the Bank. The trial judge also awarded the plaintiffs their reasonable attorneys’ fees and costs, resulting in a total award of $2.1 million plus attorneys’ fees, costs and interest. If the judgment is upheld in full, the Company has estimated that the award, which includes attorney's fees, costs and interest, could be as high as $3 million. However, the Company believes there are strong grounds for appeal based on significant appellate case law and the intentions to vigorously defend its interests in this matter, including arguing for complete reversal on appeal, a Notice of Appeal was filed on March 9, 2020. Although the Company believes there is a strong basis to vacate the award, there remains a reasonable possibility that the judgment will be affirmed in whole or in part, with the possible range of loss from $0 to $3 million. The Company does not believe that the loss is probable at this time, as that term is used in assessing loss contingencies. Accordingly, in accordance with the authoritative guidance in the evaluation of contingencies, the Company has not recorded an accrual related to this matter.

Fair Values of Assets and Liabi

Fair Values of Assets and Liabilities	6 Months Ended
	Jun. 30, 2020
Fair Value Disclosures [Abstract]
Fair Values of Assets and Liabilities	9. FAIR VALUES OF ASSETS AND LIABILITIES Determination of Fair Value The Company uses fair value measurements to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures. The fair value of assets and liabilities is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value is best determined based upon quoted market prices. However, in many instances, there are no quoted market prices for the Company’s various assets and liabilities. In cases where quoted market prices are not available, fair values are based on estimates using present value or other valuation techniques. Those techniques are significantly affected by the assumptions used including the discount rate and estimates of future cash flows. Accordingly, the fair value estimates may not be realized in an immediate settlement of the asset or liability. The following methods and assumptions were used by the Company in estimating fair value disclosures: Securities, at fair value Loan level interest rate swaps Assets and Liabilities Measured at Fair Value on a Recurring Basis Assets measured at fair value on a recurring basis are summarized as follows. Total Fair Level 1 Level 2 Level 3 Value (In thousands) June 30, 2020 Assets: Debt securities $ — $ 13,022 $ — $ 13,022 Marketable equity securities 16,401 — — 16,401 Loan level interest rate swaps — — 12,881 12,881 Total assets $ 16,401 $ 13,022 $ 12,881 $ 42,304 Liabilities: Loan level interest rate swaps $ — $ — $ 12,881 $ 12,881 Total liabilities $ — $ — $ 12,881 $ 12,881 Total Fair Level 1 Level 2 Level 3 Value (In thousands) December 31, 2019 Assets: Debt securities $ — $ 15,076 $ — $ 15,076 Marketable equity securities 15,243 — — 15,243 Loan level interest rate swaps — — 4,561 4,561 Total assets $ 15,243 $ 15,076 $ 4,561 $ 34,880 Liabilities: Loan level interest rate swaps $ — $ — $ 4,561 $ 4,561 Total liabilities $ — $ — $ 4,561 $ 4,561 Assets Measured at Fair Value on a Non-recurring Basis The Company may also be required, from time to time, to measure certain other assets at fair value on a non-recurring basis in accordance with generally accepted accounting principles. These adjustments to fair value usually result from the application of lower-of-cost-or market accounting or write-downs of individual assets. Certain impaired loans were adjusted to fair value, less cost to sell, of the underlying collateral securing these loans resulting in losses. The loss is not recorded directly as an adjustment to current earnings, but rather as a component in determining the allowance for loan losses. Fair value was measured using appraised values of collateral and adjusted as necessary by management based on unobservable inputs for specific properties. Impaired loans measured at fair value at June 30, 2020 and December 31, 2019 were $4.1 million and $4.6 million, respectively. The related gains and losses were immaterial for the three and six months ended June 30, 2020 and 2019. Summary of Fair Values of Financial Instruments The estimated fair values, and related carrying amounts, of the Company’s financial instruments are as follows. Certain financial instruments and all nonfinancial instruments are exempt from disclosure requirements. Accordingly, the aggregate fair value amounts presented herein do not represent the underlying fair value of the Company. Carrying Fair Value Amount Level 1 Level 2 Level 3 Total (In thousands) June 30, 2020 Financial assets: Cash and due from banks $ 508,627 $ 508,627 $ — $ — $ 508,627 Securities available for sale, at fair value 13,022 — 13,022 — 13,022 Marketable equity securities, at fair value 16,401 16,401 — — 16,401 Federal Home Loan Bank stock 33,282 — — 33,282 33,282 Loans and loans held for sale, net 5,657,992 — — 5,677,531 5,677,531 Accrued interest receivable 17,300 — — 17,300 17,300 Loan level interest rate swaps 12,881 — — 12,881 12,881 Financial liabilities: Deposits 4,820,397 — — 4,939,857 4,939,857 Borrowings 804,101 — 832,183 — 832,183 Accrued interest payable 3,178 — — 3,178 3,178 Loan level interest rate swaps 12,881 — — 12,881 12,881 Carrying Fair Value Amount Level 1 Level 2 Level 3 Total (In thousands) December 31, 2019 Financial assets: Cash and due from banks $ 406,382 $ 406,382 $ — $ — $ 406,382 Certificates of deposit 247 — 247 — 247 Securities available for sale, at fair value 15,076 — 15,076 — 15,076 Marketable equity securities, at fair value 15,243 15,243 — — 15,243 Federal Home Loan Bank stock 28,947 — — 28,947 28,947 Loans and loans held for sale, net 5,669,995 — — 5,489,521 5,489,521 Accrued interest receivable 14,481 — — 14,481 14,481 Loan level interest rate swaps 4,561 — — 4,561 4,561 Financial liabilities: Deposits 4,921,533 — — 4,714,313 4,714,313 Borrowings 636,245 — 582,861 — 582,861 Accrued interest payable 5,962 — — 5,962 5,962 Loan level interest rate swaps 4,561 — — 4,561 4,561

Recent Accounting Pronounceme_2

Recent Accounting Pronouncements (Policies)	6 Months Ended
	Jun. 30, 2020
New Accounting Pronouncements And Changes In Accounting Principles [Abstract]
Recent Accounting Pronouncements	Adopted During the Period In January 2017, the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) No. 2017-04, Intangibles — Goodwill and Other (Topic 350). The update intends to simplify the subsequent measurement of goodwill by requiring an entity to compare the fair value of a reporting unit to its carrying value, including goodwill. An entity should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value; however, the impairment charge should not exceed the total amount of goodwill allocated to that reporting unit. ASU 2017-04 became effective for the Company on January 1, 2020 is not expected to have a material impact on the Company’s financial statements. Goodwill testing will be completed during the fourth quarter or at such time as determined through a detailed assessment by management. In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement (Topic 820). The update modifies the disclosure requirements primarily related to level 3 fair value measurements of the fair value hierarchy. ASU 2018-13 became effective for the Company on January 1, 2020 and did not have a material impact on the Company’s financial statement disclosures. To be Adopted in Future Periods In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments – Credit Losses (Topic 326). The main objective of this update is to provide financial statement users with more decision-useful information about the expected credit losses on financial instruments, including loans, held-to-maturity debt securities and commitments to extend credit held by a reporting entity at each reporting date. To achieve this objective, the amendments in this update replace the incurred loss impairment methodology in current GAAP with a methodology, referred to as Current Expected Credit Loss, or CECL, that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to formulate credit loss estimates. Credit losses on available-for-sale debt securities will be measured in a manner similar to current GAAP but will be recognized through an allowance rather than as a direct write-down. This update was to be effective for the Company on January 1, 2020. Based upon the parallel run for the fourth quarter of 2019, the Company had expected the adoption of the ASU to result in an approximate 15% decrease to its allowance for loan losses. The Coronavirus Aid, Relief, and Economic Security (“CARES”) Act, a stimulus package signed into law on March 27, 2020 to address economic disruption caused by the COVID-19 pandemic, provides financial institutions with the option to defer adoption of ASU No. 2016-03 until the earlier of the end of the pandemic or the end of 2020. The Company has chosen to defer adoption of ASU No. 2016-13 based on management’s belief that the incurred loss impairment methodology provides a more practical measurement of credit losses in the current economic environment. Upon the Company’s future adoption of CECL, the change from the incurred loss methodology to the CECL methodology will be recognized through an adjustment to retained earnings.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2020
Earnings Per Share [Abstract]
Computation of Basic and Diluted Earnings Per Share	Basic and diluted earnings per share have been computed based on the following: Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 (Dollars in thousands, except share information) Net income available to common stockholders $ 17,279 $ 15,168 $ 30,256 $ 30,239 Basic weighted average shares outstanding 50,131,249 51,051,880 50,383,116 51,086,050 Effect of dilutive stock options 79,985 459,798 182,631 403,558 Diluted weighted average shares outstanding 50,211,234 51,511,678 50,565,747 51,489,608 Earnings per share: Basic $ 0.34 $ 0.30 $ 0.60 $ 0.59 Diluted $ 0.34 $ 0.29 $ 0.60 $ 0.59

Securities (Tables)

Securities (Tables)	6 Months Ended
	Jun. 30, 2020
Investments Debt And Equity Securities [Abstract]
Amortized Cost and Fair Values of Securities Available for Sale	The amortized cost and fair values of securities available for sale, with gross unrealized gains and losses, follows: Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (In thousands) June 30, 2020 Debt securities: Government-sponsored enterprises $ 373 $ 18 $ — $ 391 Municipal bonds 2,080 121 — 2,201 Residential mortgage-backed securities: Government-sponsored enterprises 9,331 412 (9 ) 9,734 Private label 575 121 — 696 Total securities available for sale $ 12,359 $ 672 $ (9 ) $ 13,022 December 31, 2019 Debt securities: Government-sponsored enterprises $ 1,528 $ 28 $ — $ 1,556 Municipal bonds 2,085 66 — 2,151 Residential mortgage-backed securities: Government-sponsored enterprises 10,559 168 (34 ) 10,693 Private label 584 92 — 676 Total securities available for sale $ 14,756 $ 354 $ (34 ) $ 15,076
Amortized Cost and Fair Value of Debt Securities by Contractual Maturity	The amortized cost and fair value of debt securities by contractual maturity at June 30, 2020 are as follows. Expected maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations with or without prepayment penalties. After One Year Through Five Years After Five Years Total Amortized Fair Amortized Fair Amortized Fair Cost Value Cost Value Cost Value (In thousands) Government-sponsored enterprises $ — $ — $ 373 $ 391 $ 373 $ 391 Municipal bonds 272 288 1,808 1,913 2,080 2,201 Residential mortgage-backed securities: Government-sponsored enterprises 508 520 8,823 9,214 9,331 9,734 Private label — — 575 696 575 696 Total $ 780 $ 808 $ 11,579 $ 12,214 $ 12,359 $ 13,022
Schedule of Information Pertaining to Securities Available for Sale	Information pertaining to securities available for sale as of June 30, 2020 and December 31, 2019, with gross unrealized losses aggregated by investment category and length of time that individual securities have been in a continuous loss position, follows: Less Than Twelve Months Twelve Months or Longer Gross Gross Unrealized Fair Unrealized Fair Losses Value Losses Value (In thousands) June 30, 2020 Debt securities: Residential mortgage-backed securities: Government-sponsored enterprises $ 6 $ 479 $ 3 $ 377 Total temporarily impaired securities $ 6 $ 479 $ 3 $ 377 Less Than Twelve Months Twelve Months or Longer Gross Gross Unrealized Fair Unrealized Fair Losses Value Losses Value (In thousands) December 31, 2019 Debt securities: Residential mortgage-backed securities: Government-sponsored enterprises $ — $ — $ 34 $ 3,370 Total temporarily impaired securities $ — $ — $ 34 $ 3,370
Unrealized and Realized Gains and Losses Recognized in Net Income on Marketable Equity Securities	The following is a summary of unrealized and realized gains and losses recognized in net income on marketable equity securities during the three and six months ended June 30, 2020 and 2019: Three Months Ended Six Months Ended June 30, 2020 June 30, 2019 June 30, 2020 June 30, 2019 (In thousands) Net realized loss on marketable equity securities sold during the period $ — $ (155 ) $ (337 ) $ (155 ) Net unrealized gain (loss) recognized during the reporting period on marketable equity securities still held at the reporting date 2,025 378 (1,982 ) 1,704 Net gain (loss) recognized during the period on marketable equity securities $ 2,025 $ 223 $ (2,319 ) $ 1,549

Loans (Tables)

Loans (Tables)	6 Months Ended
	Jun. 30, 2020
Receivables [Abstract]
Summary of Loans	A summary of loans follows: June 30, 2020 December 31, 2019 Amount Percent Amount Percent (Dollars in thousands) Real estate loans: Residential real estate: One- to four-family $ 635,683 11.1 % $ 659,366 11.5 % Home equity lines of credit 74,246 1.3 69,491 1.2 Multi-family 941,922 16.4 1,003,418 17.4 Commercial real estate 2,556,088 44.7 2,696,671 46.9 Construction 742,845 13.0 707,370 12.3 Total real estate loans 4,950,784 86.5 5,136,316 89.3 Commercial and industrial 760,546 13.3 604,889 10.5 Consumer 11,867 0.2 12,196 0.2 Total loans 5,723,197 100.0 % 5,753,401 100.0 % Allowance for loan losses (60,547 ) (50,322 ) Net deferred loan origination fees (8,340 ) (5,539 ) Loans, net $ 5,654,310 $ 5,697,540
Allowance for Loan Losses	An analysis of the allowance for loan losses and related information follows: Three Months Ended June 30, 2020 One- to four- family Multi- family Home equity lines of credit Commercial real estate Construction Commercial and industrial Consumer Total (In thousands) Balance at March 31, 2020 $ 794 $ 7,680 $ 94 $ 26,728 $ 9,457 $ 6,114 $ 79 $ 50,946 Provision (reversal) for loan losses 723 797 84 4,941 1,834 1,296 (34 ) 9,641 Charge-offs — — — — — (83 ) (16 ) (99 ) Recoveries 13 — — — — 5 41 59 Balance at June 30, 2020 $ 1,530 $ 8,477 $ 178 $ 31,669 $ 11,291 $ 7,332 $ 70 $ 60,547 Three Months Ended June 30, 2019 One- to four- family Multi- family Home equity lines of credit Commercial real estate Construction Commercial and industrial Consumer Total (In thousands) Balance at March 31, 2019 $ 897 $ 8,382 $ 61 $ 28,194 $ 10,020 $ 6,353 $ 90 $ 53,997 Provision (reversal) for loan losses (62 ) 211 4 (413 ) 234 71 33 78 Charge-offs — — — — — (186 ) (60 ) (246 ) Recoveries — — 1 5 — — 30 36 Balance at June 30, 2019 $ 835 $ 8,593 $ 66 $ 27,786 $ 10,254 $ 6,238 $ 93 $ 53,865 Six Months Ended June 30, 2020 One- to four- family Multi- family Home equity lines of credit Commercial real estate Construction Commercial and industrial Consumer Total (In thousands) Balance at December 31, 2019 $ 691 $ 7,825 $ 69 $ 26,943 $ 8,913 $ 5,765 $ 116 $ 50,322 Provision (reversal) for loan losses 826 652 108 4,726 2,378 1,694 (18 ) 10,366 Charge-offs — — — — — (133 ) (80 ) (213 ) Recoveries 13 — 1 — — 6 52 72 Balance at June 30, 2020 $ 1,530 $ 8,477 $ 178 $ 31,669 $ 11,291 $ 7,332 $ 70 $ 60,547 Six Months Ended June 30, 2019 One- to four- family Multi- family Home equity lines of credit Commercial real estate Construction Commercial and industrial Consumer Total (In thousands) Balance at December 31, 2018 $ 1,033 $ 8,240 $ 70 $ 27,785 $ 9,755 $ 6,236 $ 112 $ 53,231 Provision (reversal) for loan losses (198 ) 353 (6 ) (4 ) 499 198 79 921 Charge-offs — — — — — (196 ) (137 ) (333 ) Recoveries — — 2 5 — — 39 46 Balance at June 30, 2019 $ 835 $ 8,593 $ 66 $ 27,786 $ 10,254 $ 6,238 $ 93 $ 53,865 One- to four- family Multi- family Home equity lines of credit Commercial real estate Construction Commercial and industrial Consumer Total (In thousands) June 30, 2020 Amount of allowance for loan losses for loans deemed to be impaired $ 7 $ — $ — $ — $ — $ — $ — $ 7 Amount of allowance for loan losses for loans not deemed to be impaired 1,523 8,477 178 31,669 11,291 7,332 70 60,540 $ 1,530 $ 8,477 $ 178 $ 31,669 $ 11,291 $ 7,332 $ 70 $ 60,547 Loans deemed to be impaired $ 1,212 $ — $ — $ 2,132 $ — $ 2,215 $ — $ 5,559 Loans not deemed to be impaired 634,471 941,922 74,246 2,553,956 742,845 758,331 11,867 5,717,638 $ 635,683 $ 941,922 $ 74,246 $ 2,556,088 $ 742,845 $ 760,546 $ 11,867 $ 5,723,197 December 31, 2019 Amount of allowance for loan losses for loans deemed to be impaired $ 36 $ — $ — $ — $ — $ 40 $ — $ 76 Amount of allowance for loan losses for loans not deemed to be impaired 655 7,825 69 26,943 8,913 5,725 116 50,246 $ 691 $ 7,825 $ 69 $ 26,943 $ 8,913 $ 5,765 $ 116 $ 50,322 Loans deemed to be impaired $ 1,268 $ 252 $ — $ 2,399 $ — $ 2,386 $ — $ 6,305 Loans not deemed to be impaired 658,098 1,003,166 69,491 2,694,272 707,370 602,503 12,196 5,747,096 $ 659,366 $ 1,003,418 $ 69,491 $ 2,696,671 $ 707,370 $ 604,889 $ 12,196 $ 5,753,401
Past Due and Non Accrual	The following table provides information about the Company’s past due and non-accrual loans: 30-59 60-89 90 Days Days Days or Greater Total Loans on Past Due Past Due Past Due Past Due Non-accrual (In thousands) June 30, 2020 Real estate loans: Residential real estate: One- to four-family $ 339 $ 329 $ 878 $ 1,546 $ 3,074 Home equity lines of credit — — 20 20 20 Multi-family 1,680 — — 1,680 — Commercial real estate — 194 — 194 194 Total real estate loans 2,019 523 898 3,440 3,288 Commercial and industrial — — 523 523 532 Consumer 731 570 — 1,301 — Total $ 2,750 $ 1,093 $ 1,421 $ 5,264 $ 3,820 December 31, 2019 Real estate loans: Residential real estate: One- to four-family $ 610 $ 164 $ 604 $ 1,378 $ 3,082 Home equity lines of credit — — — — — Commercial real estate — — — — — Total real estate loans 610 164 604 1,378 3,082 Commercial and industrial 8 — 323 331 323 Consumer 717 765 — 1,482 — Total $ 1,335 $ 929 $ 927 $ 3,191 $ 3,405
Impaired Loans of Company	The following tables provide information with respect to the Company’s impaired loans: June 30, 2020 December 31, 2019 Unpaid Unpaid Recorded Principal Related Recorded Principal Related Investment Balance Allowance Investment Balance Allowance (In thousands) Impaired loans without a valuation allowance: One- to four-family $ 655 $ 991 $ 570 $ 908 Multi-family — — 252 252 Commercial real estate 2,132 2,132 2,399 2,399 Commercial and industrial 2,215 2,545 323 653 Total 5,002 5,668 3,544 4,212 Impaired loans with a valuation allowance: One- to four-family 557 557 $ 7 698 698 $ 36 Commercial and industrial — — — 2,063 2,063 40 Total 557 557 7 2,761 $ 2,761 76 Total impaired loans $ 5,559 $ 6,225 $ 7 $ 6,305 $ 6,973 $ 76 Three Months Ended June 30, 2020 2019 Interest Interest Average Interest Income Average Interest Income Recorded Income Recognized Recorded Income Recognized Investment Recognized on Cash Basis Investment Recognized on Cash Basis (In thousands) One- to four-family $ 1,213 $ 13 $ 6 $ 1,297 $ 13 $ 8 Multi-family — — — 1,112 16 — Commercial real estate 2,136 21 — 758 9 4 Commercial and industrial 2,495 17 — 1,351 16 — Total impaired loans $ 5,844 $ 51 $ 6 $ 4,518 $ 54 $ 12 Six Months Ended June 30, 2020 2019 Interest Interest Average Interest Income Average Interest Income Recorded Income Recognized Recorded Income Recognized Investment Recognized on Cash Basis Investment Recognized on Cash Basis (In thousands) One- to four-family $ 1,216 $ 27 $ 14 $ 1,304 $ 21 $ 12 Multi-family — — — 1,168 34 — Commercial real estate 2,049 42 — 766 17 7 Commercial and industrial 2,517 43 — 1,416 32 — Total impaired loans $ 5,782 $ 112 $ 14 $ 4,654 $ 104 $ 19
Summary of Troubled Debt Restructurings	The following table summarizes the Company’s troubled debt restructurings (“TDRs”) at the dates indicated: June 30, December 31, 2020 2019 (In thousands) TDRs on accrual status: One- to four-family $ 2,055 $ 2,084 Multi-family — 252 Total TDRs on accrual status 2,055 2,336 TDRs on non-accrual status: One- to four-family 655 706 Total TDRs on non-accrual status 655 706 Total TDRs $ 2,710 $ 3,042
Risk Rated Loans by Class	The following table provides the Company’s risk-rated loans by class: June 30, 2020 December 31, 2019 Multi-family Commercial Multi-family Commercial residential Commercial and residential Commercial and real estate real estate Construction industrial real estate real estate Construction industrial (In thousands) Loans rated 1 - 6 $ 941,324 $ 2,539,956 $ 742,845 $ 719,158 $ 1,000,783 $ 2,679,330 $ 707,370 $ 573,835 Loans rated 7 598 15,860 — 16,398 — 16,626 — 2,009 Loans rated 8 — 272 — 24,990 2,635 715 — 29,045 Loans rated 9 — — — — — — — — Loans rated 10 — — — — — — — — Total $ 941,922 $ 2,556,088 $ 742,845 $ 760,546 $ 1,003,418 $ 2,696,671 $ 707,370 $ 604,889

Deposits (Tables)

Deposits (Tables)	6 Months Ended
	Jun. 30, 2020
Banking And Thrift [Abstract]
Summary of Deposit Balances, by Type	A summary of deposit balances, by type, follows: June 30, December 31, 2020 2019 (In thousands) Noninterest-bearing demand deposits $ 709,924 $ 524,154 Interest-bearing demand deposits 1,291,458 1,269,211 Money market deposits 753,980 675,702 Regular savings and other deposits 833,951 882,550 Total non-certificate accounts 3,589,313 3,351,617 Term certificates less than $250,000 895,296 1,206,598 Term certificates $250,000 and greater 335,788 363,318 Total certificate accounts 1,231,084 1,569,916 Total deposits $ 4,820,397 $ 4,921,533
Summary of Term Certificates, by Maturity	A summary of term certificates, by maturity, follows: June 30, 2020 December 31, 2019 Weighted Weighted Maturing Amount Average Rate Amount Average Rate (Dollars in thousands) Within 1 year $ 894,893 1.69 % $ 1,316,791 2.16 % Over 1 year to 2 years 257,902 1.34 166,862 1.75 Over 2 years to 3 years 52,675 2.00 60,462 2.29 Over 3 years to 4 years 16,538 1.45 16,658 2.01 Over 4 years to 5 years 9,076 1.48 9,143 1.72 $ 1,231,084 1.63 % $ 1,569,916 2.12 %

Borrowings (Tables)

Borrowings (Tables)	6 Months Ended
	Jun. 30, 2020
Debt Disclosure [Abstract]
Long-term, Fixed Rate FHLB Advances	Long-term, fixed rate FHLB advances and maturities are as follows: June 30, 2020 December 31, 2019 Weighted Weighted Amount Average Rate Amount Average Rate (Dollars in thousands) 2020 $ 45,000 2.16 % $ 135,620 2.30 % 2021 50,000 1.18 25,000 1.70 2022 150,625 2.00 150,625 2.00 2023 295,000 3.10 295,000 3.10 2024 20,000 2.61 20,000 2.61 2025 85,000 1.00 — — Thereafter 10,000 1.21 10,000 1.21 $ 655,625 2.32 % $ 636,245 2.57 %

Commitments and Contingencies_2

Commitments and Contingencies and Derivatives (Tables)	6 Months Ended
	Jun. 30, 2020
Commitments And Contingencies Disclosure [Abstract]
Loan Commitments Outstanding	A summary of outstanding loan commitments whose contract amounts represent credit risk is as follows: June 30, December 31, 2020 2019 (In thousands) Unadvanced portion of existing loans: Construction $ 508,449 $ 402,393 Home equity lines of credit 85,200 82,362 Other lines and letters of credit 406,162 363,955 Commitments to originate: One- to four-family 29,709 26,246 Commercial real estate 12,014 63,344 Construction 63,053 333,870 Commercial and industrial 23,070 16,655 Other loans 100 100 Total loan commitments outstanding $ 1,127,757 $ 1,288,925
Summary Information Regarding the Derivatives	Summary information regarding these derivatives is presented below: June 30, 2020 December 31, 2019 Maturity Interest Rate Paid Interest Rate Received Notional Amount Fair Value Asset (Liability) Notional Amount Fair Value Asset (Liability) (Dollars in thousands) Customer interest rate swap 06/07/32 1 Mo. Libor + 200bp Fixed (4.40%) $ 61,612 $ 11,058 $ 62,425 $ 3,625 Third-party interest rate swap 06/07/32 Fixed (4.40%) 1 Mo. Libor + 200bp 61,612 (11,058 ) 62,425 (3,625 ) Customer interest rate swap 10/17/33 1 Mo. Libor + 175bp Fixed (4.1052%) $ 10,003 $ 1,639 $ 10,166 $ 918 Third-party interest rate swap 10/17/33 Fixed (4.1052%) 1 Mo. Libor + 175bp 10,003 (1,639 ) 10,166 (918 ) Customer interest rate swap 12/13/26 1 Mo. Libor + 205bp Fixed (3.82%) $ 2,476 $ 184 $ 2,561 $ 18 Third-party interest rate swap 12/13/26 Fixed (3.82%) 1 Mo. Libor + 205bp 2,476 (184 ) 2,561 (18 )

Fair Values of Assets and Lia_2

Fair Values of Assets and Liabilities (Tables)	6 Months Ended
	Jun. 30, 2020
Fair Value Disclosures [Abstract]
Assets and Liabilities Measured at Fair Value on a Recurring Basis	Assets measured at fair value on a recurring basis are summarized as follows. Total Fair Level 1 Level 2 Level 3 Value (In thousands) June 30, 2020 Assets: Debt securities $ — $ 13,022 $ — $ 13,022 Marketable equity securities 16,401 — — 16,401 Loan level interest rate swaps — — 12,881 12,881 Total assets $ 16,401 $ 13,022 $ 12,881 $ 42,304 Liabilities: Loan level interest rate swaps $ — $ — $ 12,881 $ 12,881 Total liabilities $ — $ — $ 12,881 $ 12,881 Total Fair Level 1 Level 2 Level 3 Value (In thousands) December 31, 2019 Assets: Debt securities $ — $ 15,076 $ — $ 15,076 Marketable equity securities 15,243 — — 15,243 Loan level interest rate swaps — — 4,561 4,561 Total assets $ 15,243 $ 15,076 $ 4,561 $ 34,880 Liabilities: Loan level interest rate swaps $ — $ — $ 4,561 $ 4,561 Total liabilities $ — $ — $ 4,561 $ 4,561
Summary of Fair Values of Financial Instruments	Accordingly, the aggregate fair value amounts presented herein do not represent the underlying fair value of the Company. Carrying Fair Value Amount Level 1 Level 2 Level 3 Total (In thousands) June 30, 2020 Financial assets: Cash and due from banks $ 508,627 $ 508,627 $ — $ — $ 508,627 Securities available for sale, at fair value 13,022 — 13,022 — 13,022 Marketable equity securities, at fair value 16,401 16,401 — — 16,401 Federal Home Loan Bank stock 33,282 — — 33,282 33,282 Loans and loans held for sale, net 5,657,992 — — 5,677,531 5,677,531 Accrued interest receivable 17,300 — — 17,300 17,300 Loan level interest rate swaps 12,881 — — 12,881 12,881 Financial liabilities: Deposits 4,820,397 — — 4,939,857 4,939,857 Borrowings 804,101 — 832,183 — 832,183 Accrued interest payable 3,178 — — 3,178 3,178 Loan level interest rate swaps 12,881 — — 12,881 12,881 Carrying Fair Value Amount Level 1 Level 2 Level 3 Total (In thousands) December 31, 2019 Financial assets: Cash and due from banks $ 406,382 $ 406,382 $ — $ — $ 406,382 Certificates of deposit 247 — 247 — 247 Securities available for sale, at fair value 15,076 — 15,076 — 15,076 Marketable equity securities, at fair value 15,243 15,243 — — 15,243 Federal Home Loan Bank stock 28,947 — — 28,947 28,947 Loans and loans held for sale, net 5,669,995 — — 5,489,521 5,489,521 Accrued interest receivable 14,481 — — 14,481 14,481 Loan level interest rate swaps 4,561 — — 4,561 4,561 Financial liabilities: Deposits 4,921,533 — — 4,714,313 4,714,313 Borrowings 636,245 — 582,861 — 582,861 Accrued interest payable 5,962 — — 5,962 5,962 Loan level interest rate swaps 4,561 — — 4,561 4,561

Basis of Presentation - Additio

Basis of Presentation - Additional Information (Detail)	Jun. 30, 2020
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Share in East Boston Savings Bank	100.00%

Recent Accounting Pronounceme_3

Recent Accounting Pronouncements - Additional Information (Detail)	3 Months Ended
	Dec. 31, 2019
Accounting Standards Update 2016-13 [Member]
Summary Of Significant Accounting Policies [Line Items]
Percentage of decrease to allowance of loan losses	15.00%

Earnings Per Share - Computatio

Earnings Per Share - Computation of Basic and Diluted Earnings Per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Earnings Per Share [Abstract]
Net income available to common stockholders	$ 17,279	$ 15,168	$ 30,256	$ 30,239
Basic weighted average shares outstanding	50,131,249	51,051,880	50,383,116	51,086,050
Effect of dilutive stock options	79,985	459,798	182,631	403,558
Diluted weighted average shares outstanding	50,211,234	51,511,678	50,565,747	51,489,608
Earnings per share:
Basic	$ 0.34	$ 0.30	$ 0.60	$ 0.59
Diluted	$ 0.34	$ 0.29	$ 0.60	$ 0.59

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Detail) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Stock Option [Member]
Schedule of Available-for-sale Securities [Line Items]
Anti-dilutive Options	168,335	121,608	130,940	131,068

Securities - Amortized Cost and

Securities - Amortized Cost and Fair Values of Securities Available for Sale (Detail) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Schedule of Available-for-sale Securities [Line Items]
Debt Securities, Amortized Cost, Total	$ 12,359	$ 14,756
Debt Securities, Gross Unrealized Gains	672	354
Debt Securities, Gross Unrealized Losses	(9)	(34)
Debt Securities, Fair Value	13,022	15,076
Government-sponsored Enterprises [Member]
Schedule of Available-for-sale Securities [Line Items]
Debt Securities, Amortized Cost, Total	373	1,528
Debt Securities, Gross Unrealized Gains	18	28
Debt Securities, Fair Value	391	1,556
Residential Mortgage-backed Securities, Government - sponsored Enterprises [Member]
Schedule of Available-for-sale Securities [Line Items]
Debt Securities, Amortized Cost, Total	9,331	10,559
Debt Securities, Gross Unrealized Gains	412	168
Debt Securities, Gross Unrealized Losses	(9)	(34)
Debt Securities, Fair Value	9,734	10,693
Residential Mortgage-backed Securities, Private Label [Member]
Schedule of Available-for-sale Securities [Line Items]
Debt Securities, Amortized Cost, Total	575	584
Debt Securities, Gross Unrealized Gains	121	92
Debt Securities, Fair Value	696	676
Municipal Bonds [Member]
Schedule of Available-for-sale Securities [Line Items]
Debt Securities, Amortized Cost, Total	2,080	2,085
Debt Securities, Gross Unrealized Gains	121	66
Debt Securities, Fair Value	$ 2,201	$ 2,151

Securities - Additional Informa

Securities - Additional Information (Detail) - USD ($)	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Schedule of Available-for-sale Securities [Line Items]
Other-than-temporarily impaired debt securities	0	0
Equity securities, at fair value	$ 16,401,000		$ 15,243,000
Federal Reserve Bank Discount Window Borrowings [Member]
Schedule of Available-for-sale Securities [Line Items]
Securities with fair value, pledged as collateral	281,000
Federal Home Loan Bank of Boston Borrowings [Member]
Schedule of Available-for-sale Securities [Line Items]
Securities with fair value, pledged as collateral	$ 2,000,000

Securities - Amortized Cost a_2

Securities - Amortized Cost and Fair Value of Debt Securities by Contractual Maturity (Detail) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost, After One Year Through Five Years	$ 780
Fair Value, After One Year Through Five Years	808
Amortized Cost, After Five Years	11,579
Fair Value, After Five Years	12,214
Debt Securities, Amortized Cost, Total	12,359	$ 14,756
Fair Value, Total	13,022	15,076
Government-sponsored Enterprises [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost, After Five Years	373
Fair Value, After Five Years	391
Debt Securities, Amortized Cost, Total	373	1,528
Fair Value, Total	391	1,556
Residential Mortgage-backed Securities, Government - sponsored Enterprises [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost, After One Year Through Five Years	508
Fair Value, After One Year Through Five Years	520
Amortized Cost, After Five Years	8,823
Fair Value, After Five Years	9,214
Debt Securities, Amortized Cost, Total	9,331	10,559
Fair Value, Total	9,734	10,693
Residential Mortgage-backed Securities, Private Label [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost, After Five Years	575
Fair Value, After Five Years	696
Debt Securities, Amortized Cost, Total	575	584
Fair Value, Total	696	676
Municipal Bonds [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost, After One Year Through Five Years	272
Fair Value, After One Year Through Five Years	288
Amortized Cost, After Five Years	1,808
Fair Value, After Five Years	1,913
Debt Securities, Amortized Cost, Total	2,080	2,085
Fair Value, Total	$ 2,201	$ 2,151

Securities - Schedule of Inform

Securities - Schedule of Information Pertaining to Securities Available for Sale (Detail) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Schedule of Available-for-sale Securities [Line Items]
Debt securities, gross unrealized losses, less than twelve months	$ 6
Debt securities, fair value, less than twelve months	479
Debt securities, gross unrealized losses, over twelve months	3	$ 34
Debt securities, fair value, over twelve months	377	3,370
Residential Mortgage-backed Securities, Government - sponsored Enterprises [Member]
Schedule of Available-for-sale Securities [Line Items]
Debt securities, gross unrealized losses, less than twelve months	6
Debt securities, fair value, less than twelve months	479
Debt securities, gross unrealized losses, over twelve months	3	34
Debt securities, fair value, over twelve months	$ 377	$ 3,370

Securities - Unrealized and Rea

Securities - Unrealized and Realized Gains and Losses Recognized in Net Income on Marketable Equity Securities (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Investments Debt And Equity Securities [Abstract]
Net realized loss on marketable equity securities sold during the period		$ (155)	$ (337)	$ (155)
Net unrealized gain (loss) recognized during the reporting period on marketable equity securities still held at the reporting date	$ 2,025	378	(1,982)	1,704
Net gain (loss) recognized during the period on marketable equity securities	$ 2,025	$ 223	$ (2,319)	$ 1,549

Loans - Summary of Loans (Detai

Loans - Summary of Loans (Detail) - USD ($) $ in Thousands	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018
Financing Receivable, Allowance for Credit Losses [Line Items]
Total loans, Amount	$ 5,723,197		$ 5,753,401
Total loans, Percent	100.00%		100.00%
Allowance for loan losses	$ (60,547)	$ (50,946)	$ (50,322)	$ (53,865)	$ (53,997)	$ (53,231)
Net deferred loan origination fees	(8,340)		(5,539)
Loans, net	5,654,310		5,697,540
Commercial and Industrial [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total loans, Amount	$ 760,546		$ 604,889
Total loans, Percent	13.30%		10.50%
Allowance for loan losses	$ (7,332)	(6,114)	$ (5,765)	(6,238)	(6,353)	(6,236)
Construction [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total loans, Amount	$ 742,845		$ 707,370
Total loans, Percent	13.00%		12.30%
Allowance for loan losses	$ (11,291)	(9,457)	$ (8,913)	(10,254)	(10,020)	(9,755)
Total Real Estate Loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total loans, Amount	$ 4,950,784		$ 5,136,316
Total loans, Percent	86.50%		89.30%
Residential Portfolio Segment [Member] | Multi-Family Residential Real Estate [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total loans, Amount	$ 941,922		$ 1,003,418
Total loans, Percent	16.40%		17.40%
Allowance for loan losses	$ (8,477)	(7,680)	$ (7,825)	(8,593)	(8,382)	(8,240)
Residential Portfolio Segment [Member] | One-to Four-Family [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total loans, Amount	$ 635,683		$ 659,366
Total loans, Percent	11.10%		11.50%
Allowance for loan losses	$ (1,530)	(794)	$ (691)	(835)	(897)	(1,033)
Residential Portfolio Segment [Member] | Home Equity Lines of Credit [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total loans, Amount	$ 74,246		$ 69,491
Total loans, Percent	1.30%		1.20%
Allowance for loan losses	$ (178)	(94)	$ (69)	(66)	(61)	(70)
Commercial Real Estate Portfolio Segment [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total loans, Amount	$ 2,556,088		$ 2,696,671
Total loans, Percent	44.70%		46.90%
Allowance for loan losses	$ (31,669)	(26,728)	$ (26,943)	(27,786)	(28,194)	(27,785)
Consumer Portfolio Segment [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total loans, Amount	$ 11,867		$ 12,196
Total loans, Percent	0.20%		0.20%
Allowance for loan losses	$ (70)	$ (79)	$ (116)	$ (93)	$ (90)	$ (112)

Loans - Additional Information

Loans - Additional Information (Detail) $ in Millions	6 Months Ended
	Jun. 30, 2020USD ($)SecurityLoan	Dec. 31, 2019USD ($)SecurityLoan
Accounts, Notes, Loans and Financing Receivable [Line Items]
Servicing loans for participants	$ 115.6	$ 173.7
Number of accruing loans | SecurityLoan	0	0
Loans modified as TDRs on non-accrual status, minimum period	6 months
Loans modified as TDRs qualify for return to accrual status if demonstrated performance with modified terms of loan agreement, minimum period	6 months
Commercial Real Estate Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying value of loan pledged	$ 1,440
Multi-Family Residential Real Estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying value of loan pledged	$ 347.6

Loans - Allowance for Loan Loss

Loans - Allowance for Loan Losses (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning balance	$ 50,946	$ 53,997	$ 50,322	$ 53,231
Provision (reversal) for loan losses	9,641	78	10,366	921
Charge-offs	(99)	(246)	(213)	(333)
Recoveries	59	36	72	46
Ending balance	60,547	53,865	60,547	53,865
Amount of allowance for loan losses for loans deemed to be impaired	7		7		$ 76
Amount of allowance for loan losses for loans not deemed to be impaired	60,540		60,540		50,246
Loans deemed to be impaired	5,559		5,559		6,305
Loans not deemed to be impaired	5,717,638		5,717,638		5,747,096
Total, Amount of allowance impaired	5,723,197		5,723,197		5,753,401
Commercial Real Estate Portfolio Segment [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning balance	26,728	28,194	26,943	27,785
Provision (reversal) for loan losses	4,941	(413)	4,726	(4)
Recoveries		5		5
Ending balance	31,669	27,786	31,669	27,786
Amount of allowance for loan losses for loans not deemed to be impaired	31,669		31,669		26,943
Loans deemed to be impaired	2,132		2,132		2,399
Loans not deemed to be impaired	2,553,956		2,553,956		2,694,272
Total, Amount of allowance impaired	2,556,088		2,556,088		2,696,671
Consumer Portfolio Segment [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning balance	79	90	116	112
Provision (reversal) for loan losses	(34)	33	(18)	79
Charge-offs	(16)	(60)	(80)	(137)
Recoveries	41	30	52	39
Ending balance	70	93	70	93
Amount of allowance for loan losses for loans not deemed to be impaired	70		70		116
Loans not deemed to be impaired	11,867		11,867		12,196
Total, Amount of allowance impaired	11,867		11,867		12,196
Multi-Family Residential Real Estate [Member] | Residential Portfolio Segment [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning balance	7,680	8,382	7,825	8,240
Provision (reversal) for loan losses	797	211	652	353
Ending balance	8,477	8,593	8,477	8,593
Amount of allowance for loan losses for loans not deemed to be impaired	8,477		8,477		7,825
Loans deemed to be impaired					252
Loans not deemed to be impaired	941,922		941,922		1,003,166
Total, Amount of allowance impaired	941,922		941,922		1,003,418
One-to Four-Family [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Amount of allowance for loan losses for loans deemed to be impaired	7		7		36
One-to Four-Family [Member] | Residential Portfolio Segment [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning balance	794	897	691	1,033
Provision (reversal) for loan losses	723	(62)	826	(198)
Recoveries	13		13
Ending balance	1,530	835	1,530	835
Amount of allowance for loan losses for loans deemed to be impaired	7		7		36
Amount of allowance for loan losses for loans not deemed to be impaired	1,523		1,523		655
Loans deemed to be impaired	1,212		1,212		1,268
Loans not deemed to be impaired	634,471		634,471		658,098
Total, Amount of allowance impaired	635,683		635,683		659,366
Home Equity Lines of Credit [Member] | Residential Portfolio Segment [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning balance	94	61	69	70
Provision (reversal) for loan losses	84	4	108	(6)
Recoveries		1	1	2
Ending balance	178	66	178	66
Amount of allowance for loan losses for loans not deemed to be impaired	178		178		69
Loans not deemed to be impaired	74,246		74,246		69,491
Total, Amount of allowance impaired	74,246		74,246		69,491
Construction [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning balance	9,457	10,020	8,913	9,755
Provision (reversal) for loan losses	1,834	234	2,378	499
Ending balance	11,291	10,254	11,291	10,254
Amount of allowance for loan losses for loans not deemed to be impaired	11,291		11,291		8,913
Loans not deemed to be impaired	742,845		742,845		707,370
Total, Amount of allowance impaired	742,845		742,845		707,370
Commercial and Industrial [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning balance	6,114	6,353	5,765	6,236
Provision (reversal) for loan losses	1,296	71	1,694	198
Charge-offs	(83)	(186)	(133)	(196)
Recoveries	5		6
Ending balance	7,332	$ 6,238	7,332	$ 6,238
Amount of allowance for loan losses for loans deemed to be impaired					40
Amount of allowance for loan losses for loans not deemed to be impaired	7,332		7,332		5,725
Loans deemed to be impaired	2,215		2,215		2,386
Loans not deemed to be impaired	758,331		758,331		602,503
Total, Amount of allowance impaired	$ 760,546		$ 760,546		$ 604,889

Loans - Past Due and Non Accrua

Loans - Past Due and Non Accrual (Detail) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Financing Receivable, Allowance for Credit Losses [Line Items]
Total Past Due	$ 5,264	$ 3,191
Loans on Non-accrual	3,820	3,405
Multi-Family Residential Real Estate [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total Past Due	1,680
Commercial and Industrial [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total Past Due	523	331
Loans on Non-accrual	532	323
Residential Portfolio Segment [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total Past Due	3,440	1,378
Loans on Non-accrual	3,288	3,082
Commercial Real Estate Portfolio Segment [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total Past Due	194
Loans on Non-accrual	194
One-to Four-Family [Member] | Residential Portfolio Segment [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total Past Due	1,546	1,378
Loans on Non-accrual	3,074	3,082
Home Equity Lines of Credit [Member] | Residential Portfolio Segment [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total Past Due	20
Loans on Non-accrual	20
Consumer [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total Past Due	1,301	1,482
Financing Receivables, 30 to 59 Days Past Due [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total Past Due	2,750	1,335
Financing Receivables, 30 to 59 Days Past Due [Member] | Multi-Family Residential Real Estate [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total Past Due	1,680
Financing Receivables, 30 to 59 Days Past Due [Member] | Commercial and Industrial [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total Past Due		8
Financing Receivables, 30 to 59 Days Past Due [Member] | Residential Portfolio Segment [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total Past Due	2,019	610
Financing Receivables, 30 to 59 Days Past Due [Member] | One-to Four-Family [Member] | Residential Portfolio Segment [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total Past Due	339	610
Financing Receivables, 30 to 59 Days Past Due [Member] | Consumer [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total Past Due	731	717
Financing Receivables, 60 to 89 Days Past Due [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total Past Due	1,093	929
Financing Receivables, 60 to 89 Days Past Due [Member] | Residential Portfolio Segment [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total Past Due	523	164
Financing Receivables, 60 to 89 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total Past Due	194
Financing Receivables, 60 to 89 Days Past Due [Member] | One-to Four-Family [Member] | Residential Portfolio Segment [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total Past Due	329	164
Financing Receivables, 60 to 89 Days Past Due [Member] | Consumer [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total Past Due	570	765
Financing Receivables, 90 Days or Greater Past Due [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total Past Due	1,421	927
Financing Receivables, 90 Days or Greater Past Due [Member] | Commercial and Industrial [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total Past Due	523	323
Financing Receivables, 90 Days or Greater Past Due [Member] | Residential Portfolio Segment [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total Past Due	898	604
Financing Receivables, 90 Days or Greater Past Due [Member] | One-to Four-Family [Member] | Residential Portfolio Segment [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total Past Due	878	$ 604
Financing Receivables, 90 Days or Greater Past Due [Member] | Home Equity Lines of Credit [Member] | Residential Portfolio Segment [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total Past Due	$ 20

Loans - Impaired Loans of Compa

Loans - Impaired Loans of Company (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Financing Receivable, Impaired [Line Items]
Impaired Loans Without Valuation Allowance, Recorded Investment	$ 5,002		$ 5,002		$ 3,544
Impaired Loans Without Valuation Allowance, Unpaid Principal Balance	5,668		5,668		4,212
Impaired Loans With Valuation Allowance, Recorded Investment	557		557		2,761
Impaired Loans With Valuation Allowance, Unpaid Principal Balance	557		557		2,761
Impaired Loans With Valuation Allowance, Related Allowance	7		7		76
Recorded Investment, Total	5,559		5,559		6,305
Unpaid Principal Balance, Total	6,225		6,225		6,973
Average Recorded Investment	5,844	$ 4,518	5,782	$ 4,654
Interest Income Recognized	51	54	112	104
Interest Income Recognized on Cash Basis	6	12	14	19
One-to Four-Family [Member]
Financing Receivable, Impaired [Line Items]
Impaired Loans Without Valuation Allowance, Recorded Investment	655		655		570
Impaired Loans Without Valuation Allowance, Unpaid Principal Balance	991		991		908
Impaired Loans With Valuation Allowance, Recorded Investment	557		557		698
Impaired Loans With Valuation Allowance, Unpaid Principal Balance	557		557		698
Impaired Loans With Valuation Allowance, Related Allowance	7		7		36
Average Recorded Investment	1,213	1,297	1,216	1,304
Interest Income Recognized	13	13	27	21
Interest Income Recognized on Cash Basis	6	8	14	12
Commercial and Industrial [Member]
Financing Receivable, Impaired [Line Items]
Impaired Loans Without Valuation Allowance, Recorded Investment	2,215		2,215		323
Impaired Loans Without Valuation Allowance, Unpaid Principal Balance	2,545		2,545		653
Impaired Loans With Valuation Allowance, Recorded Investment					2,063
Impaired Loans With Valuation Allowance, Unpaid Principal Balance					2,063
Impaired Loans With Valuation Allowance, Related Allowance					40
Recorded Investment, Total	2,215		2,215		2,386
Average Recorded Investment	2,495	1,351	2,517	1,416
Interest Income Recognized	17	16	43	32
Residential Portfolio Segment [Member] | One-to Four-Family [Member]
Financing Receivable, Impaired [Line Items]
Impaired Loans With Valuation Allowance, Related Allowance	7		7		36
Recorded Investment, Total	1,212		1,212		1,268
Residential Portfolio Segment [Member] | Multi-Family Residential Real Estate [Member]
Financing Receivable, Impaired [Line Items]
Impaired Loans Without Valuation Allowance, Recorded Investment					252
Impaired Loans Without Valuation Allowance, Unpaid Principal Balance					252
Recorded Investment, Total					252
Average Recorded Investment		1,112		1,168
Interest Income Recognized		16		34
Commercial Real Estate Portfolio Segment [Member]
Financing Receivable, Impaired [Line Items]
Impaired Loans Without Valuation Allowance, Recorded Investment	2,132		2,132		2,399
Impaired Loans Without Valuation Allowance, Unpaid Principal Balance	2,132		2,132		2,399
Recorded Investment, Total	2,132		2,132		$ 2,399
Average Recorded Investment	2,136	758	2,049	766
Interest Income Recognized	$ 21	9	$ 42	17
Interest Income Recognized on Cash Basis		$ 4		$ 7

Loans - Summary of Troubled Deb

Loans - Summary of Troubled Debt Restructurings (Detail) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Financing Receivable, Modifications [Line Items]
Total TDRs on accrual status	$ 2,055	$ 2,336
Total TDRs on non-accrual status	655	706
Total TDRs	2,710	3,042
One-to Four-Family [Member]
Financing Receivable, Modifications [Line Items]
Total TDRs on accrual status	2,055	2,084
Total TDRs on non-accrual status	$ 655	706
Multi-Family Residential Real Estate [Member]
Financing Receivable, Modifications [Line Items]
Total TDRs on accrual status		$ 252

Loans - Risk Rated Loans by Cla

Loans - Risk Rated Loans by Class (Detail) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Multi-Family Residential Real Estate [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable Credit Quality Rating	$ 941,922	$ 1,003,418
Commercial Real Estate Portfolio Segment [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable Credit Quality Rating	2,556,088	2,696,671
Construction [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable Credit Quality Rating	742,845	707,370
Commercial and Industrial [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable Credit Quality Rating	760,546	604,889
Loans rated 1 - 6 [Member] | Multi-Family Residential Real Estate [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable Credit Quality Rating	941,324	1,000,783
Loans rated 1 - 6 [Member] | Commercial Real Estate Portfolio Segment [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable Credit Quality Rating	2,539,956	2,679,330
Loans rated 1 - 6 [Member] | Construction [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable Credit Quality Rating	742,845	707,370
Loans rated 1 - 6 [Member] | Commercial and Industrial [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable Credit Quality Rating	719,158	573,835
Loans Rated 7 [Member] | Multi-Family Residential Real Estate [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable Credit Quality Rating	598
Loans Rated 7 [Member] | Commercial Real Estate Portfolio Segment [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable Credit Quality Rating	15,860	16,626
Loans Rated 7 [Member] | Commercial and Industrial [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable Credit Quality Rating	16,398	2,009
Loans Rated 8 [Member] | Multi-Family Residential Real Estate [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable Credit Quality Rating		2,635
Loans Rated 8 [Member] | Commercial Real Estate Portfolio Segment [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable Credit Quality Rating	272	715
Loans Rated 8 [Member] | Commercial and Industrial [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable Credit Quality Rating	$ 24,990	$ 29,045

Deposits - Summary of Deposit B

Deposits - Summary of Deposit Balances, by Type (Detail) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Banking And Thrift [Abstract]
Noninterest-bearing demand deposits	$ 709,924	$ 524,154
Interest-bearing demand deposits	1,291,458	1,269,211
Money market deposits	753,980	675,702
Regular savings and other deposits	833,951	882,550
Total non-certificate accounts	3,589,313	3,351,617
Term certificates less than $250,000	895,296	1,206,598
Term certificates $250,000 and greater	335,788	363,318
Total certificate accounts	1,231,084	1,569,916
Total deposits	$ 4,820,397	$ 4,921,533

Deposits - Summary of Term Cert

Deposits - Summary of Term Certificates, by Maturity (Detail) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Banking And Thrift [Abstract]
Within 1 year, Amount	$ 894,893	$ 1,316,791
Over 1 year to 2 years, Amount	257,902	166,862
Over 2 years to 3 years, Amount	52,675	60,462
Over 3 years to 4 years, Amount	16,538	16,658
Over 4 years to 5 years, Amount	9,076	9,143
Total certificate accounts	$ 1,231,084	$ 1,569,916
Within 1 year, Weighted Average Rate	1.69%	2.16%
Over 1 year to 2 years, Weighted Average Rate	1.34%	1.75%
Over 2 year to 3 years, Weighted Average Rate	2.00%	2.29%
Over 3 year to 4 years, Weighted Average Rate	1.45%	2.01%
Over 4 years to 5 years, Weighted Average Rate	1.48%	1.72%
Weighted average rate on term certificates	1.63%	2.12%

Deposits - Additional Informati

Deposits - Additional Information (Detail) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Banking And Thrift [Abstract]
Brokered certificate of deposit included in term certificates	$ 165.1	$ 404.5
Weighted average rate of deposit included in term certificates	1.94%	2.19%
Brokered certificate of deposit included in term certificates	$ 76.3	$ 36.5
Weighted average rate of deposit included in term certificates	0.90%	2.35%
Brokered interest-bearing demand deposits	$ 175.6	$ 150.6

Borrowings - Additional Informa

Borrowings - Additional Information (Detail) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Debt Disclosure [Line Items]
Short-term borrowings with original maturity of less than one year consisted of FHLB advance	$ 25,000,000
Interest rate on FHLB advance	0.81%
Short-term borrowings	$ 25,000,000	$ 0
Available line of credit with the FHLB	9,400,000
Amounts drawn on the line of credit	0	0
Multi-Family Residential Real Estate [Member]
Debt Disclosure [Line Items]
Carrying value of commercial real estate loans pledged	347,600,000
Commercial Real Estate Portfolio Segment [Member]
Debt Disclosure [Line Items]
Carrying value of commercial real estate loans pledged	1,440,000,000
FHLB Callable [Member]
Debt Disclosure [Line Items]
FHLB, total advances callable prior to maturity	$ 445,000,000
Weighted Average [Member] | FHLB Callable [Member]
Debt Disclosure [Line Items]
FHLB advances, weighted average rate	2.53%
Paycheck Protection Program Liquidity Facility [Member]
Debt Disclosure [Line Items]
Long-term debt in FHLB advances	$ 655,600,000
Borrowing from Federal Reserve Bank discount window	$ 123,500,000	$ 0
Federal reserve bank discount window interest rate	0.35%
Paycheck Protection Program Liquidity Facility [Member] | Minimum [Member]
Debt Disclosure [Line Items]
Federal reserve bank discount window maturity period	2 years
Paycheck Protection Program Liquidity Facility [Member] | Maximum [Member]
Debt Disclosure [Line Items]
Federal reserve bank discount window maturity period	5 years

Borrowings - Long-term, Fixed R

Borrowings - Long-term, Fixed Rate FHLB Advances (Detail) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
2020	$ 25,000
Weighted Average Rate, 2020	0.81%
Fixed Interest Rate [Member]
Debt Instrument [Line Items]
2020	$ 45,000	$ 135,620
2021	50,000	25,000
2022	150,625	150,625
2023	295,000	295,000
2024	20,000	20,000
2025	85,000
Thereafter	10,000	10,000
Total advances	$ 655,625	$ 636,245
Weighted Average Rate, 2020	2.16%	2.30%
Weighted Average Rate, 2021	1.18%	1.70%
Weighted Average Rate, 2022	2.00%	2.00%
Weighted Average Rate, 2023	3.10%	3.10%
Weighted Average Rate, 2024	2.61%	2.61%
Weighted Average Rate, 2025	1.00%
Weighted Average Rate, Thereafter	1.21%	1.21%
Weighted Average Rate	2.32%	2.57%

Commitments and Contingencies_3

Commitments and Contingencies and Derivatives - Loan Commitments Outstanding (Detail) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Loss Contingencies [Line Items]
Total loan commitments outstanding	$ 1,127,757	$ 1,288,925
Construction [Member] | Unadvanced Portion of Existing Loans [Member]
Loss Contingencies [Line Items]
Total loan commitments outstanding	508,449	402,393
Construction [Member] | Unfunded Loan Commitment [Member]
Loss Contingencies [Line Items]
Total loan commitments outstanding	63,053	333,870
Home Equity Lines of Credit [Member] | Unadvanced Portion of Existing Loans [Member]
Loss Contingencies [Line Items]
Total loan commitments outstanding	85,200	82,362
One-to Four-Family [Member] | Unfunded Loan Commitment [Member]
Loss Contingencies [Line Items]
Total loan commitments outstanding	29,709	26,246
Commercial Real Estate Portfolio Segment [Member] | Unfunded Loan Commitment [Member]
Loss Contingencies [Line Items]
Total loan commitments outstanding	12,014	63,344
Unallocated Financing Receivables [Member] | Unfunded Loan Commitment [Member]
Loss Contingencies [Line Items]
Total loan commitments outstanding	100	100
Other Lines and Letters of Credit [Member] | Unadvanced Portion of Existing Loans [Member]
Loss Contingencies [Line Items]
Total loan commitments outstanding	406,162	363,955
Commercial and Industrial [Member] | Unfunded Loan Commitment [Member]
Loss Contingencies [Line Items]
Total loan commitments outstanding	$ 23,070	$ 16,655

Commitments and Contingencies_4

Commitments and Contingencies and Derivatives - Additional Information (Detail) - USD ($)	Nov. 25, 2019	Oct. 31, 2019	Jun. 30, 2020	Dec. 31, 2019
Derivative Instruments, Gain (Loss) [Line Items]
Cash pledged for collateral interest rate swap			$ 13,300,000	$ 5,400,000
Pending Litigation [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Loss contingency damages, amount	$ 1,000,000	$ 1,000,000
Loss contingency damages awarded, amount	2,100,000
Pending Litigation [Member] | Maximum [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Loss contingency, range of possible loss	3,000,000
Pending Litigation [Member] | Minimum [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Loss contingency, range of possible loss	$ 0
Core Data Processing Provider [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Other outstanding commitments			$ 6,500,000

Commitments and Contingencies_5

Commitments and Contingencies and Derivatives - Summary Information Regarding the Derivatives (Detail) - USD ($)	6 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Customer Interest Rate Swap Maturing on 06/07/32 [Member]
Loss Contingencies [Line Items]
Notional amount	$ 61,612,000	$ 62,425,000
Fair value asset (liability)	$ 11,058,000	3,625,000
Maturity	Jun. 7, 2032
Interest rate paid	1 Mo. Libor + 200bp
Interest rate received	Fixed (4.40%)
Fixed interest rate received	4.40%
Customer Interest Rate Swap Maturing on 06/07/32 [Member] | LIBOR [Member]
Loss Contingencies [Line Items]
Variable interest rate paid	2.00%
Third Party Interest Rate Swap Maturing on 06/07/32 [Member]
Loss Contingencies [Line Items]
Notional amount	$ 61,612,000	62,425,000
Fair value asset (liability)	$ (11,058,000)	(3,625,000)
Maturity	Jun. 7, 2032
Interest rate paid	Fixed (4.40%)
Fixed interest rate paid	4.40%
Interest rate received	1 Mo. Libor + 200bp
Third Party Interest Rate Swap Maturing on 06/07/32 [Member] | LIBOR [Member]
Loss Contingencies [Line Items]
Variable interest rate received	2.00%
Customer Interest Rate Swap Maturing on 10/17/33 [Member]
Loss Contingencies [Line Items]
Notional amount	$ 10,003,000	10,166,000
Fair value asset (liability)	$ 1,639,000	918,000
Maturity	Oct. 17, 2033
Interest rate paid	1 Mo. Libor + 175bp
Interest rate received	Fixed (4.1052%)
Fixed interest rate received	4.1052%
Customer Interest Rate Swap Maturing on 10/17/33 [Member] | LIBOR [Member]
Loss Contingencies [Line Items]
Variable interest rate paid	1.75%
Third Party Interest Rate Swap Maturing on 10/17/33 [Member]
Loss Contingencies [Line Items]
Notional amount	$ 10,003,000	10,166,000
Fair value asset (liability)	$ (1,639,000)	(918,000)
Maturity	Oct. 17, 2033
Interest rate paid	Fixed (4.1052%)
Fixed interest rate paid	4.1052%
Interest rate received	1 Mo. Libor + 175bp
Third Party Interest Rate Swap Maturing on 10/17/33 [Member] | LIBOR [Member]
Loss Contingencies [Line Items]
Variable interest rate received	1.75%
Customer Interest Rate Swap Maturing on 12/13/26 [Member]
Loss Contingencies [Line Items]
Notional amount	$ 2,476,000	2,561,000
Fair value asset (liability)	$ 184,000	18,000
Maturity	Dec. 13, 2026
Interest rate paid	1 Mo. Libor + 205bp
Interest rate received	Fixed (3.82%)
Fixed interest rate received	3.82%
Customer Interest Rate Swap Maturing on 12/13/26 [Member] | LIBOR [Member]
Loss Contingencies [Line Items]
Variable interest rate paid	2.05%
Third Party Interest Rate Swap Maturing on 12/13/26 [Member]
Loss Contingencies [Line Items]
Notional amount	$ 2,476,000	2,561,000
Fair value asset (liability)	$ (184,000)	$ (18,000)
Maturity	Dec. 13, 2026
Interest rate paid	Fixed (3.82%)
Fixed interest rate paid	3.82%
Interest rate received	1 Mo. Libor + 205bp
Third Party Interest Rate Swap Maturing on 12/13/26 [Member] | LIBOR [Member]
Loss Contingencies [Line Items]
Variable interest rate received	2.05%

Fair Values of Assets and Lia_3

Fair Values of Assets and Liabilities - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Detail) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	$ 13,022	$ 15,076
Marketable equity securities	16,401	15,243
Total liabilities	12,881	4,561
Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	42,304	34,880
Loan Level Interest Rate Swaps [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loan level interest rate swaps	12,881	4,561
Loan Level Interest Rate Swaps [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loan level interest rate swaps	12,881	4,561
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable equity securities	16,401	15,243
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	16,401	15,243
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	13,022	15,076
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	13,022	15,076
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total liabilities	12,881	4,561
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	12,881	4,561
Fair Value, Inputs, Level 3 [Member] | Loan Level Interest Rate Swaps [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loan level interest rate swaps	12,881	4,561
Fair Value, Inputs, Level 3 [Member] | Loan Level Interest Rate Swaps [Member] | Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loan level interest rate swaps	$ 12,881	$ 4,561

Fair Values of Assets and Lia_4

Fair Values of Assets and Liabilities - Additional Information (Detail) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Impaired Loans [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans measured at fair value	$ 4.1	$ 4.6

Fair Values of Assets and Lia_5

Fair Values of Assets and Liabilities - Summary of Fair Values of Financial Instruments (Detail) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Financial assets:
Securities available for sale, at fair value	$ 13,022	$ 15,076
Marketable equity securities, at fair value	16,401	15,243
Fair Value, Inputs, Level 1 [Member]
Financial assets:
Marketable equity securities, at fair value	16,401	15,243
Carrying Amount [Member]
Financial assets:
Cash and due from banks	508,627	406,382
Certificates of deposit		247
Securities available for sale, at fair value	13,022	15,076
Marketable equity securities, at fair value	16,401	15,243
Federal Home Loan Bank stock	33,282	28,947
Loans and loans held for sale, net	5,657,992	5,669,995
Accrued interest receivable	17,300	14,481
Financial liabilities:
Deposits	4,820,397	4,921,533
Borrowings	804,101	636,245
Accrued interest payable	3,178	5,962
Carrying Amount [Member] | Interest Rate Swaps [Member]
Financial assets:
Loan level interest rate swaps	12,881	4,561
Financial liabilities:
Loan level interest rate swaps	12,881	4,561
Fair Value [Member]
Financial assets:
Cash and due from banks	508,627	406,382
Certificates of deposit		247
Securities available for sale, at fair value	13,022	15,076
Marketable equity securities, at fair value	16,401	15,243
Federal Home Loan Bank stock	33,282	28,947
Loans and loans held for sale, net	5,677,531	5,489,521
Accrued interest receivable	17,300	14,481
Financial liabilities:
Deposits	4,939,857	4,714,313
Borrowings	832,183	582,861
Accrued interest payable	3,178	5,962
Fair Value [Member] | Interest Rate Swaps [Member]
Financial assets:
Loan level interest rate swaps	12,881	4,561
Financial liabilities:
Loan level interest rate swaps	12,881	4,561
Fair Value [Member] | Fair Value, Inputs, Level 1 [Member]
Financial assets:
Cash and due from banks	508,627	406,382
Marketable equity securities, at fair value	16,401	15,243
Fair Value [Member] | Fair Value, Inputs, Level 2 [Member]
Financial assets:
Certificates of deposit		247
Securities available for sale, at fair value	13,022	15,076
Financial liabilities:
Borrowings	832,183	582,861
Fair Value [Member] | Fair Value, Inputs, Level 3 [Member]
Financial assets:
Federal Home Loan Bank stock	33,282	28,947
Loans and loans held for sale, net	5,677,531	5,489,521
Accrued interest receivable	17,300	14,481
Financial liabilities:
Deposits	4,939,857	4,714,313
Accrued interest payable	3,178	5,962
Fair Value [Member] | Fair Value, Inputs, Level 3 [Member] | Interest Rate Swaps [Member]
Financial assets:
Loan level interest rate swaps	12,881	4,561
Financial liabilities:
Loan level interest rate swaps	$ 12,881	$ 4,561