Meridian Bancorp (EBSB) 10-Q 9 Aug 21 2021 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2021	Jul. 30, 2021
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2021
Document Fiscal Year Focus	2021
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		52,612,938

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
ASSETS
Cash and due from banks	$ 1,101,359	$ 914,586
Securities available for sale, at fair value	9,810	11,326
Marketable equity securities, at fair value	9,112	12,189
Federal Home Loan Bank stock, at cost	26,184	30,658
Loans held for sale	5,711	8,224
Loans, net of deferred fees and costs	5,000,875	5,512,629
Less: allowance for credit losses on loans	(64,300)	(68,824)
Loans, net	4,936,575	5,443,805
Bank-owned life insurance	42,402	41,877
Premises and equipment, net	64,649	66,850
Accrued interest receivable	19,932	23,173
Deferred tax asset, net	21,437	21,355
Goodwill	20,378	20,378
Core deposit intangible	1,445	1,651
Other assets	28,147	23,776
Total assets	6,287,141	6,619,848
Deposits:
Non interest-bearing	801,612	711,573
Interest-bearing	4,062,115	4,369,594
Total deposits	4,863,727	5,081,167
Long-term debt	560,625	708,245
Accrued expenses and other liabilities	61,575	61,551
Total liabilities	5,485,927	5,850,963
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; 52,608,747 and 52,415,061 shares issued and outstanding at June 30, 2021 and December 31, 2020, respectively	526	524
Additional paid-in capital	365,607	363,995
Retained earnings	451,100	420,297
Accumulated other comprehensive loss	(146)	(58)
Unearned compensation - ESOP, 2,191,745 shares at June 30, 2021 and December 31, 2020, respectively	(15,873)	(15,873)
Total stockholders' equity	801,214	768,885
Total liabilities and stockholders' equity	$ 6,287,141	$ 6,619,848

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Jun. 30, 2021	Dec. 31, 2020
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	52,608,747	52,415,061
Common stock, shares outstanding	52,608,747	52,415,061
Unearned compensation, ESOP	2,191,745	2,191,745

Consolidated Statements of Net

Consolidated Statements of Net Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Interest and dividend income:
Interest and fees on loans	$ 54,918	$ 61,445	$ 112,080	$ 125,482
Interest on debt securities	61	87	126	187
Dividends on marketable equity securities	90	145	214	239
Interest on certificates of deposit				1
Other interest and dividend income	361	473	731	2,259
Total interest and dividend income	55,430	62,150	113,151	128,168
Interest expense:
Interest on deposits	4,209	10,591	9,938	27,360
Interest on short-term borrowings		52		60
Interest on borrowings	3,453	4,136	7,044	8,279
Total interest expense	7,662	14,779	16,982	35,699
Net interest income	47,768	47,371	96,169	92,469
Provision (reversal) for credit losses	749	9,641	(4,487)	10,366
Net interest income, after provision (reversal) for credit losses	47,019	37,730	100,656	82,103
Non-interest income:
Customer service fees	2,485	1,948	4,684	4,045
Loan fees (costs)	39	(35)	134	639
Mortgage banking gains, net	45	118	627	529
Gain on sale of asset		4,195		4,195
Gain (loss) on marketable equity securities, net	200	2,025	1,985	(2,319)
Income from bank-owned life insurance	264	273	525	570
Other income	17	134	26	168
Total non-interest income	3,050	8,658	7,981	7,827
Non-interest expenses:
Salaries and employee benefits	13,939	13,858	29,455	29,772
Occupancy and equipment	3,900	3,739	8,131	7,663
Data processing	2,273	2,133	4,514	4,270
Marketing and advertising	1,032	1,030	1,928	2,260
Professional services	691	695	1,421	1,692
Deposit insurance	345	606	858	1,275
Merger and acquisition	1,115		1,115
Other general and administrative	4,738	1,240	6,154	2,689
Total non-interest expenses	28,033	23,301	53,576	49,621
Income before income taxes	22,036	23,087	55,061	40,309
Provision for income taxes	5,490	5,808	14,195	10,053
Net income	$ 16,546	$ 17,279	$ 40,866	$ 30,256
Earnings per share:
Basic	$ 0.33	$ 0.34	$ 0.81	$ 0.60
Diluted	$ 0.32	$ 0.34	$ 0.81	$ 0.60
Weighted average shares outstanding:
Basic	50,375,468	50,131,249	50,307,961	50,383,116
Diluted	50,943,160	50,211,234	50,754,731	50,565,747

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Statement Of Income And Comprehensive Income [Abstract]
Net income	$ 16,546	$ 17,279	$ 40,866	$ 30,256
Securities available for sale:
Net unrealized (loss) gain	(20)	113	(122)	343
Tax effect	5	(32)	34	(96)
Total other comprehensive (loss) income	(15)	81	(88)	247
Comprehensive income	$ 16,531	$ 17,360	$ 40,778	$ 30,503

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, 2019	$ 726,587	$ 534	$ 377,213	$ 365,742	$ (147)	$ (16,755)
Beginning balance, shares at Dec. 31, 2019		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 (reversal)	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
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
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 (reversal)	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
Beginning Balance at Dec. 31, 2020	$ 768,885	$ 524	363,995	420,297	(58)	(15,873)
Beginning balance, shares at Dec. 31, 2020	52,415,061	52,415,061
Comprehensive income	$ 24,247			24,320	(73)
Dividends declared	(5,024)			(5,024)
ESOP shares committed to be allocated (reversal)	512		292			220
Share-based compensation expense - restricted stock, net of awards forfeited	235		235
Share-based compensation expense - restricted stock, net of awards forfeited, shares		(2,800)
Share-based compensation expense - stock options, net of awards forfeited	137		137
Stock options exercised	92		92
Stock options exercised, shares		18,293
Ending Balance at Mar. 31, 2021	789,084	$ 524	364,751	439,593	(131)	(15,653)
Ending balance, shares at Mar. 31, 2021		52,430,554
Beginning Balance at Dec. 31, 2020	$ 768,885	$ 524	363,995	420,297	(58)	(15,873)
Beginning balance, shares at Dec. 31, 2020	52,415,061	52,415,061
Comprehensive income	$ 40,778
Ending Balance at Jun. 30, 2021	$ 801,214	$ 526	365,607	451,100	(146)	(15,873)
Ending balance, shares at Jun. 30, 2021	52,608,747	52,608,747
Beginning Balance at Mar. 31, 2021	$ 789,084	$ 524	364,751	439,593	(131)	(15,653)
Beginning balance, shares at Mar. 31, 2021		52,430,554
Comprehensive income	16,531			16,546	(15)
Dividends declared	(5,039)			(5,039)
ESOP shares committed to be allocated (reversal)	(512)		(292)			(220)
Share-based compensation expense - restricted stock, net of awards forfeited	297	$ 1	296
Share-based compensation expense - restricted stock, net of awards forfeited, shares		84,885
Share-based compensation expense - stock options, net of awards forfeited	140		140
Stock options exercised	713	$ 1	712
Stock options exercised, shares		93,308
Ending Balance at Jun. 30, 2021	$ 801,214	$ 526	$ 365,607	$ 451,100	$ (146)	$ (15,873)
Ending balance, shares at Jun. 30, 2021	52,608,747	52,608,747

Consolidated Statements of Ch_2

Consolidated Statements of Changes In Stockholders' Equity (Unaudited) (Parenthetical) - $ / shares	3 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2020	Mar. 31, 2020
Dividends declared per share	$ 0.10	$ 0.10	$ 0.07	$ 0.08
ESOP shares earned	30,441	30,441	30,441	30,441
Common Stock [Member]
Dividends declared per share	$ 0.10	$ 0.10	$ 0.07	$ 0.08
ESOP shares earned	30,441	30,441	30,441	30,441
Additional Paid-in Capital [Member]
Dividends declared per share	$ 0.10	$ 0.10	$ 0.07	$ 0.08
ESOP shares earned	30,441	30,441	30,441	30,441
Retained Earnings [Member]
Dividends declared per share	$ 0.10	$ 0.10	$ 0.07	$ 0.08
ESOP shares earned	30,441	30,441	30,441	30,441
Accumulated Other Comprehensive Income (Loss) [Member]
Dividends declared per share	$ 0.10	$ 0.10	$ 0.07	$ 0.08
ESOP shares earned	30,441	30,441	30,441	30,441
Unearned Compensation - ESOP [Member]
Dividends declared per share	$ 0.10	$ 0.10	$ 0.07	$ 0.08
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, 2021	Jun. 30, 2020
Cash flows from operating activities:
Net income	$ 40,866	$ 30,256
Adjustments to reconcile net income to net cash provided by operating activities:
Net amortization of acquisition fair value adjustments	66	34
Amortization of core deposit intangible	206	236
ESOP shares expense		845
Provision (reversal) for credit losses	(4,487)	10,366
Accretion of net deferred loan origination fees	(2,822)	(1,700)
Net amortization of securities available for sale	29	29
Depreciation and amortization expense	1,814	1,692
(Gain) loss on marketable equity securities, net	(1,985)	2,319
Gain on sale of asset		(4,195)
Deferred income tax benefit	(48)	(243)
Income from bank-owned life insurance	(525)	(570)
Share-based compensation expense	809	1,979
Net changes in:
Loans held for sale	2,513	(1,227)
Accrued interest receivable	3,241	(2,819)
Other assets	(4,371)	(6,676)
Accrued expenses and other liabilities	(453)	(136)
Net cash provided by operating activities	34,853	30,190
Cash flows from investing activities:
Maturities of certificates of deposit		247
Activity in securities, at fair value:
Proceeds from maturities, calls and principal payments	1,366	2,369
Proceeds from sales	6,484	541
Purchases	(1,423)	(4,019)
Loan principal payments, net	514,464	34,521
Proceeds from bank-owned life insurance distribution		391
Proceeds from sale of asset		5,836
Purchases of premises and equipment	(167)	(4,322)
Purchase of Federal Home Loan Bank stock		(4,335)
Redemption of Federal Home Loan Bank stock	4,474
Net cash provided by investing activities	525,198	31,229
Cash flows from financing activities:
Net change in deposits	(217,431)	(101,127)
Proceeds from Federal Home Loan Bank advances with maturities of three months or more		135,000
Repayment of Federal Home Loan Bank advances with maturities of three months or more	(50,000)	(90,620)
Cash dividends paid on common stock	(9,032)	(8,277)
Stock options exercised, net of cash paid in connection with income taxes	805	54
Repurchase of common stock		(17,680)
Net cash (used in) provided by financing activities	(373,278)	40,826
Net change in cash and cash equivalents	186,773	102,245
Cash and cash equivalents at beginning of period	914,586	406,382
Cash and cash equivalents at end of period	1,101,359	508,627
Supplemental cash flow information:
Interest paid on deposits	10,622	30,061
Interest paid on borrowings	7,330	8,431
Income taxes paid, net of refunds	19,893	6,420
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
Repayment of Federal Reserve PPPLF borrowings with maturities of three months or more	$ (97,620)

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2021
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 six months ended June 30, 2021 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, 2020 which was filed with the Securities and Exchange Commission (“SEC”) on March 1, 2021, 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 credit losses. On April 22, 2021, the Company entered into an Agreement and Plan of Merger (the "Merger Agreement") with Independent Bank Corp., a Massachusetts corporation ("Independent"), Bradford Merger Sub Inc. a direct, wholly owned subsidiary of Independent (“Merger Sub”), Rockland Trust Company, a Massachusetts-chartered trust company and wholly owned subsidiary of Independent ("Rockland Trust"), and the Bank. Pursuant to the Merger Agreement, Merger Sub will merge with and into the Company (the "Merger"), with the Company being the surviving corporation, and as soon as reasonably practicable following the Merger, the Company will merge with and into Independent, with Independent as the surviving entity (the “Holdco Merger”) .

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
Earnings Per Share	2. 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, 2021 2020 2021 2020 (Dollars in thousands, except share information) Net income available to common stockholders $ 16,546 $ 17,279 $ 40,866 $ 30,256 Basic weighted average shares outstanding 50,375,468 50,131,249 50,307,961 50,383,116 Effect of dilutive stock options 567,692 79,985 446,770 182,631 Diluted weighted average shares outstanding 50,943,160 50,211,234 50,754,731 50,565,747 Earnings per share: Basic $ 0.33 $ 0.34 $ 0.81 $ 0.60 Diluted $ 0.32 $ 0.34 $ 0.81 $ 0.60 For the three months ended June 30, 2021 and 2020, options for the exercise of 1,037 shares and 168,335 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, 2021 and 2020, options for the exercise of 27,209 and 130,490 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, 2021
Investments Debt And Equity Securities [Abstract]
Securities	3. 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, 2021 Debt securities: Government-sponsored enterprises $ 309 $ 17 $ — $ 326 Municipal bonds 2,070 125 — 2,195 Residential mortgage-backed securities: Government-sponsored enterprises 6,362 270 (9 ) 6,623 Private label 559 107 — 666 Total securities available for sale $ 9,300 $ 519 $ (9 ) $ 9,810 December 31, 2020 Debt securities: Government-sponsored enterprises $ 346 $ 21 $ — $ 367 Municipal bonds 2,075 146 — 2,221 Residential mortgage-backed securities: Government-sponsored enterprises 7,706 359 (10 ) 8,055 Private label 567 116 — 683 Total securities available for sale $ 10,694 $ 642 $ (10 ) $ 11,326 At June 30, 2021 debt securities with a fair value of $1.5 million and $270,000 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, 2021 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 $ — $ — $ 309 $ 326 $ 309 $ 326 Municipal bonds 519 556 1,551 1,639 2,070 2,195 Residential mortgage-backed securities: Government-sponsored enterprises 345 354 6,017 6,269 6,362 6,623 Private label — — 559 666 559 666 Total $ 864 $ 910 $ 8,436 $ 8,900 $ 9,300 $ 9,810 Information pertaining to securities available for sale as of June 30, 2021 and December 31, 2020, 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, 2021 Debt securities: Residential mortgage-backed securities: Government-sponsored enterprises $ — $ — $ 9 $ 594 Total temporarily impaired securities $ — $ — $ 9 $ 594 Less Than Twelve Months Twelve Months or Longer Gross Gross Unrealized Fair Unrealized Fair Losses Value Losses Value (In thousands) December 31, 2020 Debt securities: Residential mortgage-backed securities: Government-sponsored enterprises $ 7 $ 511 $ 3 $ 142 Total temporarily impaired securities $ 7 $ 511 $ 3 $ 142 The Company determined no debt securities were other-than-temporarily impaired for the six months ended June 30, 2021 and 2020. 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 marketable equity securities with an aggregate fair value of $9.1 million and $12.2 million at June 30, 2021 and December 31, 2020, 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, 2021 and 20 20 : Three Months Ended Six Months Ended June 30, 2021 June 30, 2020 June 30, 2021 June 30, 2020 (In thousands) Net realized gain (loss) on marketable equity securities sold during the period $ — $ — $ 972 $ (337 ) Net unrealized gain (loss) recognized during the reporting period on marketable equity securities still held at the reporting date 200 2,025 1,013 (1,982 ) Net gain (loss) recognized during the period on marketable equity securities $ 200 $ 2,025 $ 1,985 $ (2,319 )

Loans

Loans	6 Months Ended
	Jun. 30, 2021
Receivables [Abstract]
Loans	4. LOANS A summary of loans follows: June 30, December 31, 2021 2020 (Dollars in thousands) Real estate loans: Residential real estate: One- to four-family $ 489,310 $ 564,146 Home equity lines of credit 56,032 68,721 Multi-family 809,317 880,552 Commercial real estate 2,295,030 2,499,660 Construction 645,622 731,432 Total real estate loans 4,295,311 4,744,511 Commercial and industrial 703,745 765,195 Consumer 9,749 10,707 Total loans 5,008,805 5,520,413 Allowance for credit losses (64,300 ) (68,824 ) Net deferred loan origination fees (7,930 ) (7,784 ) Loans, net $ 4,936,575 $ 5,443,805 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, 2021 and December 31, 2020, the Company was servicing loans for participants aggregating $188.1 million and $176.4 million, respectively. At June 30, 2021, multi-family and commercial real estate loans with carrying values totaling $220.2 million and $1.188 billion, respectively, were pledged as collateral for FHLB borrowings. An analysis of the allowance for credit losses and related information follows: Three Months Ended June 30, 2021 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, 2021 $ 1,617 $ 1,722 $ 166 $ 29,433 $ 21,586 $ 8,467 $ 445 $ 63,436 Provision (reversal) for credit losses (239 ) (205 ) (30 ) 871 607 (257 ) 2 749 Charge-offs — — — — — (50 ) (23 ) (73 ) Recoveries 73 — 2 — 100 1 12 188 Balance at June 30, 2021 $ 1,451 $ 1,517 $ 138 $ 30,304 $ 22,293 $ 8,161 $ 436 $ 64,300 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 credit 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 Six Months Ended June 30, 2021 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, 2020 $ 2,076 $ 2,251 $ 206 $ 30,145 $ 25,197 $ 8,453 $ 496 $ 68,824 Provision (reversal) for loan losses (630 ) (734 ) (70 ) 159 (3,004 ) (169 ) (39 ) (4,487 ) Charge-offs (68 ) — — — — (139 ) (57 ) (264 ) Recoveries 73 — 2 — 100 16 36 227 Balance at June 30, 2021 $ 1,451 $ 1,517 $ 138 $ 30,304 $ 22,293 $ 8,161 $ 436 $ 64,300 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 One- to four- family Multi- family Home equity lines of credit Commercial real estate Construction Commercial and industrial Consumer Total (In thousands) June 30, 2021 Amount of allowance for credit losses for loans deemed to be impaired $ — $ — $ — $ 2,326 $ — $ 166 $ — $ 2,492 Amount of allowance for credit losses for loans not deemed to be impaired 1,451 1,517 138 27,978 22,293 7,995 436 61,808 $ 1,451 $ 1,517 $ 138 $ 30,304 $ 22,293 $ 8,161 $ 436 $ 64,300 Loans deemed to be impaired $ 109 $ — $ — $ 8,176 $ — $ 635 $ — $ 8,920 Loans not deemed to be impaired 489,201 809,317 56,032 2,286,854 645,622 703,110 9,749 4,999,885 $ 489,310 $ 809,317 $ 56,032 $ 2,295,030 $ 645,622 $ 703,745 $ 9,749 $ 5,008,805 December 31, 2020 Amount of allowance for credit losses for loans deemed to be impaired $ — $ — $ — $ — $ — $ — $ — $ — Amount of allowance for credit losses for loans not deemed to be impaired 2,076 2,251 206 30,145 25,197 8,453 496 68,824 $ 2,076 $ 2,251 $ 206 $ 30,145 $ 25,197 $ 8,453 $ 496 $ 68,824 Loans deemed to be impaired $ 602 $ — $ — $ 1,648 $ — $ 2,075 $ — $ 4,325 Loans not deemed to be impaired 563,544 880,552 68,721 2,498,012 731,432 763,120 10,707 5,516,088 $ 564,146 $ 880,552 $ 68,721 $ 2,499,660 $ 731,432 $ 765,195 $ 10,707 $ 5,520,413 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, 2021 Real estate loans: Residential real estate: One- to four-family $ 392 $ 200 $ 595 $ 1,187 $ 1,633 Home equity lines of credit — — 20 20 20 Multi-family 3,943 — — 3,943 — Commercial real estate 8,176 — — 8,176 8,176 Total real estate loans 12,511 200 615 13,326 9,829 Commercial and industrial — 146 489 635 635 Consumer 667 176 — 843 — Total $ 13,178 $ 522 $ 1,104 $ 14,804 $ 10,464 December 31, 2020 Real estate loans: Residential real estate: One- to four-family $ 504 $ 231 $ 1,116 $ 1,851 $ 2,617 Home equity lines of credit — — 20 20 20 Total real estate loans 504 231 1,136 1,871 2,637 Commercial and industrial 390 — 360 750 527 Consumer 448 245 — 693 — Total $ 1,342 $ 476 $ 1,496 $ 3,314 $ 3,164 At June 30, 2021 and December 31, 2020, 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, 2021 December 31, 2020 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 $ 109 $ 185 $ 602 $ 940 Commercial real estate — — 1,648 1,648 Commercial and industrial 469 799 2,075 2,404 Total 578 984 4,325 4,992 Impaired loans with a valuation allowance: Commercial real estate $ 8,176 $ 8,176 $ 2,326 $ — $ — $ — Commercial and industrial 166 207 166 — — — Total 8,342 8,383 2,492 — $ — — Total impaired loans $ 8,920 $ 9,367 $ 2,492 $ 4,325 $ 4,992 $ — Three Months Ended June 30, 2021 2020 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 $ 109 $ 4 $ 4 $ 1,213 $ 13 $ 6 Commercial real estate 2,727 81 — 2,136 21 — Commercial and industrial 635 — — 2,495 17 — Total impaired loans $ 3,471 $ 85 $ 4 $ 5,844 $ 51 $ 6 Six Months Ended June 30, 2021 2020 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 $ 110 $ 4 $ 4 $ 1,216 $ 27 $ 14 Commercial real estate 1,367 161 — 2,049 42 — Commercial and industrial 640 4 4 2,517 43 — Total impaired loans $ 2,117 $ 169 $ 8 $ 5,782 $ 112 $ 14 The following table summarizes the Company’s troubled debt restructurings (“TDRs”) at the dates indicated: June 30, December 31, 2021 2020 (In thousands) TDRs on accrual status: One- to four-family $ 1,492 $ 1,731 Total TDRs on accrual status 1,492 1,731 TDRs on non-accrual status: One- to four-family 109 420 Total TDRs on non-accrual status 109 420 Total TDRs $ 1,601 $ 2,151 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 credit 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. In response to COVID-19, the Company has provided temporary relief in the form of short-term loan modifications, generally with deferred payments and associated accrued interest due and payable based on the specific terms of the modification. As of June 30, 2021, the Company had $268.6 million in loans making interest-only payments under COVID-19 related loan modifications, representing 5.4% of the total loan portfolio. 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, 2021 December 31, 2020 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 $ 809,317 $ 2,200,420 $ 645,622 $ 648,965 $ 880,552 $ 2,483,867 $ 731,432 $ 704,534 Loans rated 7 — 86,434 — 34,036 — 15,793 — 37,093 Loans rated 8 — 8,176 — 20,744 — — — 23,568 Loans rated 9 — — — — — — — — Loans rated 10 — — — — — — — — Total $ 809,317 $ 2,295,030 $ 645,622 $ 703,745 $ 880,552 $ 2,499,660 $ 731,432 $ 765,195 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, 2021
Banking Deposits And Thrift [Abstract]
Deposits	5. DEPOSITS A summary of deposit balances, by type, follows: June 30, December 31, 2021 2020 (In thousands) Noninterest-bearing demand deposits $ 801,612 $ 711,573 Interest-bearing demand deposits 1,270,484 1,364,548 Money market deposits 863,526 930,507 Regular savings and other deposits 866,191 855,329 Total non-certificate accounts 3,801,813 3,861,957 Term certificates less than $250,000 747,134 883,133 Term certificates $250,000 and greater 314,780 336,077 Total certificate accounts 1,061,914 1,219,210 Total deposits $ 4,863,727 $ 5,081,167 A summary of term certificates, by maturity, follows: June 30, 2021 December 31, 2020 Weighted Weighted Maturing Amount Average Rate Amount Average Rate (Dollars in thousands) Within 1 year $ 828,443 0.81 % $ 883,747 1.03 % Over 1 year to 2 years 106,428 1.21 194,698 1.29 Over 2 years to 3 years 39,602 0.81 40,338 1.21 Over 3 years to 4 years 51,924 0.65 53,580 0.75 Over 4 years to 5 years 35,431 0.62 46,847 0.68 Greater than 5 years 86 0.79 — — $ 1,061,914 0.84 % $ 1,219,210 1.05 % The Company had certificates of deposit accounts obtained through a listing service included in term certificates in the table above, totaling $36.7 million with a weighted average rate of 1.16% and $50.6 million with a weighted average rate of 1.01% at June 30, 2021 and December 31, 2020, respectively. The Company had brokered certificates of deposit, which are included in term certificates in the table above, totaling $143.7 million with a weighted average rate of 1.18% and $212.0 million with a weighted average rate of 1.29% at June 30, 2021 and December 31, 2020, respectively. At June 30, 2021, the Company had no brokered interest-bearing demand deposits. The Company had brokered interest-bearing demand deposits totaling $175.6 million at December 31, 2020.

Borrowings

Borrowings	6 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
Borrowings	6. BORROWINGS At June 30, 2021, and December 31, 2020, the Company had no short-term borrowings. At June 30, 2021, long-term debt consisted of $560.6 million in FHLB advances. The Company has an available line of credit of $10.0 million with the FHLB at an interest rate that adjusts daily. No amounts were drawn on the line of credit at June 30, 2021 or December 31, 2020. Long-term, fixed rate FHLB advances and maturities are as follows: June 30, 2021 December 31, 2020 Weighted Weighted Amount Average Rate Amount Average Rate (Dollars in thousands) 2021 $ — — % $ 50,000 1.18 % 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 85,000 1.00 2026 — — — — Thereafter 10,000 1.21 10,000 1.21 $ 560,625 2.44 % $ 610,625 2.33 % At June 30, 2021, 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, 2021, the Company pledged multi-family and commercial real estate loans with carrying values totaling $220.2 million and $1.188 billion, respectively. At June 30, 2021, the Company had no borrowings through the PPPLF program. At December 31, 2020, the Company had $97.6 million in borrowings from the PPPLF program. These borrowings had maturities ranging from two to five years and a rate of 0.35%.

Commitments and Contingencies a

Commitments and Contingencies and Derivatives	6 Months Ended
	Jun. 30, 2021
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies and Derivatives	7. 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, 2021 2020 (In thousands) Unadvanced portion of existing loans: Construction $ 430,375 $ 501,911 Home equity lines of credit 81,744 79,579 Other lines and letters of credit 370,567 350,708 Commitments to originate: One- to four-family 24,872 41,454 Commercial real estate 14,663 16,540 Construction 82,291 76,615 Commercial and industrial 21,622 8,413 Total loan commitments outstanding $ 1,026,134 $ 1,075,220 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, 2021, the Company had $7.2 million in cash pledged for collateral on its interest rate swaps with the third-party financial institution. At December 31, 2020, the Company had $11.4 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, 2021 December 31, 2020 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%) $ 59,925 $ 6,026 $ 60,782 $ 8,886 Third-party interest rate swap 06/07/32 Fixed (4.40%) 1 Mo. Libor + 200bp 59,925 (6,026 ) 60,782 (8,886 ) Customer interest rate swap 10/17/33 1 Mo. Libor + 175bp Fixed (4.1052%) $ 9,644 $ 1,078 $ 9,831 $ 1,401 Third-party interest rate swap 10/17/33 Fixed (4.1052%) 1 Mo. Libor + 175bp 9,644 (1,078 ) 9,831 (1,401 ) Customer interest rate swap 12/13/26 1 Mo. Libor + 205bp Fixed (3.82%) $ 2,302 $ 96 $ 2,390 $ 154 Third-party interest rate swap 12/13/26 Fixed (3.82%) 1 Mo. Libor + 205bp 2,302 (96 ) 2,390 (154 ) Other Commitments As of June 30, 2021, the Company has an outstanding commitment of $2.2 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. The Bank appealed the judgment and the Appeals Court heard oral arguments on the case on May 4, 2021. On June 21, 2021, the appeals court issued its decision, in which it affirmed the trials court’s judgment. The Bank did not file a petition for further appellate review. The Bank accrued an estimated judgment of $3.3 million in June 2021, and subsequently paid the judgment in full in July 2021.

Fair Values of Assets and Liabi

Fair Values of Assets and Liabilities	6 Months Ended
	Jun. 30, 2021
Fair Value Disclosures [Abstract]
Fair Values of Assets and Liabilities	8. 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, 2021 Assets: Debt securities $ — $ 9,810 $ — $ 9,810 Marketable equity securities 9,112 — — 9,112 Loan level interest rate swaps — — 7,200 7,200 Total assets $ 9,112 $ 9,810 $ 7,200 $ 26,122 Liabilities: Loan level interest rate swaps $ — $ — $ 7,200 $ 7,200 Total liabilities $ — $ — $ 7,200 $ 7,200 Total Fair Level 1 Level 2 Level 3 Value (In thousands) December 31, 2020 Assets: Debt securities $ — $ 11,326 $ — $ 11,326 Marketable equity securities 12,189 — — 12,189 Loan level interest rate swaps — — 10,441 10,441 Total assets $ 12,189 $ 11,326 $ 10,441 $ 33,956 Liabilities: Loan level interest rate swaps $ — $ — $ 10,441 $ 10,441 Total liabilities $ — $ — $ 10,441 $ 10,441 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 credit 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, 2021 and December 31, 2020 were $8.8 million and $3.7 million, respectively. The related losses for the three and six months ended June 30, 2021 include a $2.3 million loss associated with an $8.2 million commercial real estate loan. The related gains and losses were immaterial for the three and six months ended June 30, 2020. 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, 2021 Financial assets: Cash and due from banks $ 1,101,359 $ 1,101,359 $ — $ — $ 1,101,359 Securities available for sale, at fair value 9,810 — 9,810 — 9,810 Marketable equity securities, at fair value 9,112 9,112 — — 9,112 Federal Home Loan Bank stock 26,184 — — 26,184 26,184 Loans and loans held for sale, net 4,942,286 — — 5,000,222 5,000,222 Accrued interest receivable 19,932 — — 19,932 19,932 Loan level interest rate swaps 7,200 — — 7,200 7,200 Financial liabilities: Deposits 4,863,727 — — 4,810,887 4,810,887 Borrowings 560,625 — 578,120 — 578,120 Accrued interest payable 1,872 — — 1,872 1,872 Loan level interest rate swaps 7,200 — — 7,200 7,200 Carrying Fair Value Amount Level 1 Level 2 Level 3 Total (In thousands) December 31, 2020 Financial assets: Cash and due from banks $ 914,586 $ 914,586 $ — $ — $ 914,586 Securities available for sale, at fair value 11,326 — 11,326 — 11,326 Marketable equity securities, at fair value 12,189 12,189 — — 12,189 Federal Home Loan Bank stock 30,658 — — 30,658 30,658 Loans and loans held for sale, net 5,452,029 — — 5,480,258 5,480,258 Accrued interest receivable 23,173 — — 23,173 23,173 Loan level interest rate swaps 10,441 — — 10,441 10,441 Financial liabilities: Deposits 5,081,167 — — 5,172,060 5,172,060 Borrowings 708,245 — 732,302 — 732,302 Accrued interest payable 2,832 — — 2,832 2,832 Loan level interest rate swaps 10,441 — — 10,441 10,441

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2021
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, 2021 2020 2021 2020 (Dollars in thousands, except share information) Net income available to common stockholders $ 16,546 $ 17,279 $ 40,866 $ 30,256 Basic weighted average shares outstanding 50,375,468 50,131,249 50,307,961 50,383,116 Effect of dilutive stock options 567,692 79,985 446,770 182,631 Diluted weighted average shares outstanding 50,943,160 50,211,234 50,754,731 50,565,747 Earnings per share: Basic $ 0.33 $ 0.34 $ 0.81 $ 0.60 Diluted $ 0.32 $ 0.34 $ 0.81 $ 0.60

Securities (Tables)

Securities (Tables)	6 Months Ended
	Jun. 30, 2021
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, 2021 Debt securities: Government-sponsored enterprises $ 309 $ 17 $ — $ 326 Municipal bonds 2,070 125 — 2,195 Residential mortgage-backed securities: Government-sponsored enterprises 6,362 270 (9 ) 6,623 Private label 559 107 — 666 Total securities available for sale $ 9,300 $ 519 $ (9 ) $ 9,810 December 31, 2020 Debt securities: Government-sponsored enterprises $ 346 $ 21 $ — $ 367 Municipal bonds 2,075 146 — 2,221 Residential mortgage-backed securities: Government-sponsored enterprises 7,706 359 (10 ) 8,055 Private label 567 116 — 683 Total securities available for sale $ 10,694 $ 642 $ (10 ) $ 11,326
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, 2021 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 $ — $ — $ 309 $ 326 $ 309 $ 326 Municipal bonds 519 556 1,551 1,639 2,070 2,195 Residential mortgage-backed securities: Government-sponsored enterprises 345 354 6,017 6,269 6,362 6,623 Private label — — 559 666 559 666 Total $ 864 $ 910 $ 8,436 $ 8,900 $ 9,300 $ 9,810
Schedule of Information Pertaining to Securities Available for Sale	Information pertaining to securities available for sale as of June 30, 2021 and December 31, 2020, 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, 2021 Debt securities: Residential mortgage-backed securities: Government-sponsored enterprises $ — $ — $ 9 $ 594 Total temporarily impaired securities $ — $ — $ 9 $ 594 Less Than Twelve Months Twelve Months or Longer Gross Gross Unrealized Fair Unrealized Fair Losses Value Losses Value (In thousands) December 31, 2020 Debt securities: Residential mortgage-backed securities: Government-sponsored enterprises $ 7 $ 511 $ 3 $ 142 Total temporarily impaired securities $ 7 $ 511 $ 3 $ 142
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, 2021 and 20 20 : Three Months Ended Six Months Ended June 30, 2021 June 30, 2020 June 30, 2021 June 30, 2020 (In thousands) Net realized gain (loss) on marketable equity securities sold during the period $ — $ — $ 972 $ (337 ) Net unrealized gain (loss) recognized during the reporting period on marketable equity securities still held at the reporting date 200 2,025 1,013 (1,982 ) Net gain (loss) recognized during the period on marketable equity securities $ 200 $ 2,025 $ 1,985 $ (2,319 )

Loans (Tables)

Loans (Tables)	6 Months Ended
	Jun. 30, 2021
Receivables [Abstract]
Summary of Loans	A summary of loans follows: June 30, December 31, 2021 2020 (Dollars in thousands) Real estate loans: Residential real estate: One- to four-family $ 489,310 $ 564,146 Home equity lines of credit 56,032 68,721 Multi-family 809,317 880,552 Commercial real estate 2,295,030 2,499,660 Construction 645,622 731,432 Total real estate loans 4,295,311 4,744,511 Commercial and industrial 703,745 765,195 Consumer 9,749 10,707 Total loans 5,008,805 5,520,413 Allowance for credit losses (64,300 ) (68,824 ) Net deferred loan origination fees (7,930 ) (7,784 ) Loans, net $ 4,936,575 $ 5,443,805
Allowance for Credit Losses	An analysis of the allowance for credit losses and related information follows: Three Months Ended June 30, 2021 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, 2021 $ 1,617 $ 1,722 $ 166 $ 29,433 $ 21,586 $ 8,467 $ 445 $ 63,436 Provision (reversal) for credit losses (239 ) (205 ) (30 ) 871 607 (257 ) 2 749 Charge-offs — — — — — (50 ) (23 ) (73 ) Recoveries 73 — 2 — 100 1 12 188 Balance at June 30, 2021 $ 1,451 $ 1,517 $ 138 $ 30,304 $ 22,293 $ 8,161 $ 436 $ 64,300 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 credit 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 Six Months Ended June 30, 2021 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, 2020 $ 2,076 $ 2,251 $ 206 $ 30,145 $ 25,197 $ 8,453 $ 496 $ 68,824 Provision (reversal) for loan losses (630 ) (734 ) (70 ) 159 (3,004 ) (169 ) (39 ) (4,487 ) Charge-offs (68 ) — — — — (139 ) (57 ) (264 ) Recoveries 73 — 2 — 100 16 36 227 Balance at June 30, 2021 $ 1,451 $ 1,517 $ 138 $ 30,304 $ 22,293 $ 8,161 $ 436 $ 64,300 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 One- to four- family Multi- family Home equity lines of credit Commercial real estate Construction Commercial and industrial Consumer Total (In thousands) June 30, 2021 Amount of allowance for credit losses for loans deemed to be impaired $ — $ — $ — $ 2,326 $ — $ 166 $ — $ 2,492 Amount of allowance for credit losses for loans not deemed to be impaired 1,451 1,517 138 27,978 22,293 7,995 436 61,808 $ 1,451 $ 1,517 $ 138 $ 30,304 $ 22,293 $ 8,161 $ 436 $ 64,300 Loans deemed to be impaired $ 109 $ — $ — $ 8,176 $ — $ 635 $ — $ 8,920 Loans not deemed to be impaired 489,201 809,317 56,032 2,286,854 645,622 703,110 9,749 4,999,885 $ 489,310 $ 809,317 $ 56,032 $ 2,295,030 $ 645,622 $ 703,745 $ 9,749 $ 5,008,805 December 31, 2020 Amount of allowance for credit losses for loans deemed to be impaired $ — $ — $ — $ — $ — $ — $ — $ — Amount of allowance for credit losses for loans not deemed to be impaired 2,076 2,251 206 30,145 25,197 8,453 496 68,824 $ 2,076 $ 2,251 $ 206 $ 30,145 $ 25,197 $ 8,453 $ 496 $ 68,824 Loans deemed to be impaired $ 602 $ — $ — $ 1,648 $ — $ 2,075 $ — $ 4,325 Loans not deemed to be impaired 563,544 880,552 68,721 2,498,012 731,432 763,120 10,707 5,516,088 $ 564,146 $ 880,552 $ 68,721 $ 2,499,660 $ 731,432 $ 765,195 $ 10,707 $ 5,520,413
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, 2021 Real estate loans: Residential real estate: One- to four-family $ 392 $ 200 $ 595 $ 1,187 $ 1,633 Home equity lines of credit — — 20 20 20 Multi-family 3,943 — — 3,943 — Commercial real estate 8,176 — — 8,176 8,176 Total real estate loans 12,511 200 615 13,326 9,829 Commercial and industrial — 146 489 635 635 Consumer 667 176 — 843 — Total $ 13,178 $ 522 $ 1,104 $ 14,804 $ 10,464 December 31, 2020 Real estate loans: Residential real estate: One- to four-family $ 504 $ 231 $ 1,116 $ 1,851 $ 2,617 Home equity lines of credit — — 20 20 20 Total real estate loans 504 231 1,136 1,871 2,637 Commercial and industrial 390 — 360 750 527 Consumer 448 245 — 693 — Total $ 1,342 $ 476 $ 1,496 $ 3,314 $ 3,164
Impaired Loans of Company	The following tables provide information with respect to the Company’s impaired loans: June 30, 2021 December 31, 2020 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 $ 109 $ 185 $ 602 $ 940 Commercial real estate — — 1,648 1,648 Commercial and industrial 469 799 2,075 2,404 Total 578 984 4,325 4,992 Impaired loans with a valuation allowance: Commercial real estate $ 8,176 $ 8,176 $ 2,326 $ — $ — $ — Commercial and industrial 166 207 166 — — — Total 8,342 8,383 2,492 — $ — — Total impaired loans $ 8,920 $ 9,367 $ 2,492 $ 4,325 $ 4,992 $ — Three Months Ended June 30, 2021 2020 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 $ 109 $ 4 $ 4 $ 1,213 $ 13 $ 6 Commercial real estate 2,727 81 — 2,136 21 — Commercial and industrial 635 — — 2,495 17 — Total impaired loans $ 3,471 $ 85 $ 4 $ 5,844 $ 51 $ 6 Six Months Ended June 30, 2021 2020 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 $ 110 $ 4 $ 4 $ 1,216 $ 27 $ 14 Commercial real estate 1,367 161 — 2,049 42 — Commercial and industrial 640 4 4 2,517 43 — Total impaired loans $ 2,117 $ 169 $ 8 $ 5,782 $ 112 $ 14
Summary of Troubled Debt Restructurings (TDRs)	The following table summarizes the Company’s troubled debt restructurings (“TDRs”) at the dates indicated: June 30, December 31, 2021 2020 (In thousands) TDRs on accrual status: One- to four-family $ 1,492 $ 1,731 Total TDRs on accrual status 1,492 1,731 TDRs on non-accrual status: One- to four-family 109 420 Total TDRs on non-accrual status 109 420 Total TDRs $ 1,601 $ 2,151
Risk Rated Loans by Class	The following table provides the Company’s risk-rated loans by class: June 30, 2021 December 31, 2020 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 $ 809,317 $ 2,200,420 $ 645,622 $ 648,965 $ 880,552 $ 2,483,867 $ 731,432 $ 704,534 Loans rated 7 — 86,434 — 34,036 — 15,793 — 37,093 Loans rated 8 — 8,176 — 20,744 — — — 23,568 Loans rated 9 — — — — — — — — Loans rated 10 — — — — — — — — Total $ 809,317 $ 2,295,030 $ 645,622 $ 703,745 $ 880,552 $ 2,499,660 $ 731,432 $ 765,195

Deposits (Tables)

Deposits (Tables)	6 Months Ended
	Jun. 30, 2021
Banking Deposits And Thrift [Abstract]
Summary of Deposit Balances, by Type	A summary of deposit balances, by type, follows: June 30, December 31, 2021 2020 (In thousands) Noninterest-bearing demand deposits $ 801,612 $ 711,573 Interest-bearing demand deposits 1,270,484 1,364,548 Money market deposits 863,526 930,507 Regular savings and other deposits 866,191 855,329 Total non-certificate accounts 3,801,813 3,861,957 Term certificates less than $250,000 747,134 883,133 Term certificates $250,000 and greater 314,780 336,077 Total certificate accounts 1,061,914 1,219,210 Total deposits $ 4,863,727 $ 5,081,167
Summary of Term Certificates, by Maturity	A summary of term certificates, by maturity, follows: June 30, 2021 December 31, 2020 Weighted Weighted Maturing Amount Average Rate Amount Average Rate (Dollars in thousands) Within 1 year $ 828,443 0.81 % $ 883,747 1.03 % Over 1 year to 2 years 106,428 1.21 194,698 1.29 Over 2 years to 3 years 39,602 0.81 40,338 1.21 Over 3 years to 4 years 51,924 0.65 53,580 0.75 Over 4 years to 5 years 35,431 0.62 46,847 0.68 Greater than 5 years 86 0.79 — — $ 1,061,914 0.84 % $ 1,219,210 1.05 %

Borrowings (Tables)

Borrowings (Tables)	6 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
Long-term, Fixed Rate FHLB Advances	Long-term, fixed rate FHLB advances and maturities are as follows: June 30, 2021 December 31, 2020 Weighted Weighted Amount Average Rate Amount Average Rate (Dollars in thousands) 2021 $ — — % $ 50,000 1.18 % 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 85,000 1.00 2026 — — — — Thereafter 10,000 1.21 10,000 1.21 $ 560,625 2.44 % $ 610,625 2.33 %

Commitments and Contingencies_2

Commitments and Contingencies and Derivatives (Tables)	6 Months Ended
	Jun. 30, 2021
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, 2021 2020 (In thousands) Unadvanced portion of existing loans: Construction $ 430,375 $ 501,911 Home equity lines of credit 81,744 79,579 Other lines and letters of credit 370,567 350,708 Commitments to originate: One- to four-family 24,872 41,454 Commercial real estate 14,663 16,540 Construction 82,291 76,615 Commercial and industrial 21,622 8,413 Total loan commitments outstanding $ 1,026,134 $ 1,075,220
Summary Information Regarding the Derivatives	Summary information regarding these derivatives is presented below: June 30, 2021 December 31, 2020 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%) $ 59,925 $ 6,026 $ 60,782 $ 8,886 Third-party interest rate swap 06/07/32 Fixed (4.40%) 1 Mo. Libor + 200bp 59,925 (6,026 ) 60,782 (8,886 ) Customer interest rate swap 10/17/33 1 Mo. Libor + 175bp Fixed (4.1052%) $ 9,644 $ 1,078 $ 9,831 $ 1,401 Third-party interest rate swap 10/17/33 Fixed (4.1052%) 1 Mo. Libor + 175bp 9,644 (1,078 ) 9,831 (1,401 ) Customer interest rate swap 12/13/26 1 Mo. Libor + 205bp Fixed (3.82%) $ 2,302 $ 96 $ 2,390 $ 154 Third-party interest rate swap 12/13/26 Fixed (3.82%) 1 Mo. Libor + 205bp 2,302 (96 ) 2,390 (154 )

Fair Values of Assets and Lia_2

Fair Values of Assets and Liabilities (Tables)	6 Months Ended
	Jun. 30, 2021
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, 2021 Assets: Debt securities $ — $ 9,810 $ — $ 9,810 Marketable equity securities 9,112 — — 9,112 Loan level interest rate swaps — — 7,200 7,200 Total assets $ 9,112 $ 9,810 $ 7,200 $ 26,122 Liabilities: Loan level interest rate swaps $ — $ — $ 7,200 $ 7,200 Total liabilities $ — $ — $ 7,200 $ 7,200 Total Fair Level 1 Level 2 Level 3 Value (In thousands) December 31, 2020 Assets: Debt securities $ — $ 11,326 $ — $ 11,326 Marketable equity securities 12,189 — — 12,189 Loan level interest rate swaps — — 10,441 10,441 Total assets $ 12,189 $ 11,326 $ 10,441 $ 33,956 Liabilities: Loan level interest rate swaps $ — $ — $ 10,441 $ 10,441 Total liabilities $ — $ — $ 10,441 $ 10,441
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, 2021 Financial assets: Cash and due from banks $ 1,101,359 $ 1,101,359 $ — $ — $ 1,101,359 Securities available for sale, at fair value 9,810 — 9,810 — 9,810 Marketable equity securities, at fair value 9,112 9,112 — — 9,112 Federal Home Loan Bank stock 26,184 — — 26,184 26,184 Loans and loans held for sale, net 4,942,286 — — 5,000,222 5,000,222 Accrued interest receivable 19,932 — — 19,932 19,932 Loan level interest rate swaps 7,200 — — 7,200 7,200 Financial liabilities: Deposits 4,863,727 — — 4,810,887 4,810,887 Borrowings 560,625 — 578,120 — 578,120 Accrued interest payable 1,872 — — 1,872 1,872 Loan level interest rate swaps 7,200 — — 7,200 7,200 Carrying Fair Value Amount Level 1 Level 2 Level 3 Total (In thousands) December 31, 2020 Financial assets: Cash and due from banks $ 914,586 $ 914,586 $ — $ — $ 914,586 Securities available for sale, at fair value 11,326 — 11,326 — 11,326 Marketable equity securities, at fair value 12,189 12,189 — — 12,189 Federal Home Loan Bank stock 30,658 — — 30,658 30,658 Loans and loans held for sale, net 5,452,029 — — 5,480,258 5,480,258 Accrued interest receivable 23,173 — — 23,173 23,173 Loan level interest rate swaps 10,441 — — 10,441 10,441 Financial liabilities: Deposits 5,081,167 — — 5,172,060 5,172,060 Borrowings 708,245 — 732,302 — 732,302 Accrued interest payable 2,832 — — 2,832 2,832 Loan level interest rate swaps 10,441 — — 10,441 10,441

Basis of Presentation - Additio

Basis of Presentation - Additional Information (Detail) - shares	Jun. 30, 2021	Apr. 22, 2021
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Share in East Boston Savings Bank	100.00%
Number of independent common stock right to receive per each common stock upon completion of merger		0.275

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, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Earnings Per Share [Abstract]
Net income available to common stockholders	$ 16,546	$ 17,279	$ 40,866	$ 30,256
Basic weighted average shares outstanding	50,375,468	50,131,249	50,307,961	50,383,116
Effect of dilutive stock options	567,692	79,985	446,770	182,631
Diluted weighted average shares outstanding	50,943,160	50,211,234	50,754,731	50,565,747
Earnings per share:
Basic	$ 0.33	$ 0.34	$ 0.81	$ 0.60
Diluted	$ 0.32	$ 0.34	$ 0.81	$ 0.60

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Detail) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Stock Option [Member]
Schedule of Available-for-sale Securities [Line Items]
Anti-dilutive Options	1,037	168,335	27,209	130,490

Securities - Amortized Cost and

Securities - Amortized Cost and Fair Values of Securities Available for Sale (Detail) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Schedule of Available-for-sale Securities [Line Items]
Debt Securities, Amortized Cost, Total	$ 9,300	$ 10,694
Debt Securities, Gross Unrealized Gains	519	642
Debt Securities, Gross Unrealized Losses	(9)	(10)
Debt Securities, Fair Value	9,810	11,326
Government-sponsored Enterprises [Member]
Schedule of Available-for-sale Securities [Line Items]
Debt Securities, Amortized Cost, Total	309	346
Debt Securities, Gross Unrealized Gains	17	21
Debt Securities, Fair Value	326	367
Residential Mortgage-backed Securities, Government - sponsored Enterprises [Member]
Schedule of Available-for-sale Securities [Line Items]
Debt Securities, Amortized Cost, Total	6,362	7,706
Debt Securities, Gross Unrealized Gains	270	359
Debt Securities, Gross Unrealized Losses	(9)	(10)
Debt Securities, Fair Value	6,623	8,055
Residential Mortgage-backed Securities, Private Label [Member]
Schedule of Available-for-sale Securities [Line Items]
Debt Securities, Amortized Cost, Total	559	567
Debt Securities, Gross Unrealized Gains	107	116
Debt Securities, Fair Value	666	683
Municipal Bonds [Member]
Schedule of Available-for-sale Securities [Line Items]
Debt Securities, Amortized Cost, Total	2,070	2,075
Debt Securities, Gross Unrealized Gains	125	146
Debt Securities, Fair Value	$ 2,195	$ 2,221

Securities - Additional Informa

Securities - Additional Information (Detail) - USD ($)	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Schedule of Available-for-sale Securities [Line Items]
Other-than-temporarily impaired debt securities	0	0
Marketable equity securities, at fair value	$ 9,112,000		$ 12,189,000
Federal Reserve Bank Discount Window Borrowings [Member]
Schedule of Available-for-sale Securities [Line Items]
Securities with fair value, pledged as collateral	270,000
Federal Home Loan Bank of Boston Borrowings [Member]
Schedule of Available-for-sale Securities [Line Items]
Securities with fair value, pledged as collateral	$ 1,500,000

Securities - Amortized Cost a_2

Securities - Amortized Cost and Fair Value of Debt Securities by Contractual Maturity (Detail) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost, After One Year Through Five Years	$ 864
Fair Value, After One Year Through Five Years	910
Amortized Cost, After Five Years	8,436
Fair Value, After Five Years	8,900
Debt Securities, Amortized Cost, Total	9,300	$ 10,694
Fair Value, Total	9,810	11,326
Government-sponsored Enterprises [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost, After Five Years	309
Fair Value, After Five Years	326
Debt Securities, Amortized Cost, Total	309	346
Fair Value, Total	326	367
Residential Mortgage-backed Securities, Government - sponsored Enterprises [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost, After One Year Through Five Years	345
Fair Value, After One Year Through Five Years	354
Amortized Cost, After Five Years	6,017
Fair Value, After Five Years	6,269
Debt Securities, Amortized Cost, Total	6,362	7,706
Fair Value, Total	6,623	8,055
Residential Mortgage-backed Securities, Private Label [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost, After Five Years	559
Fair Value, After Five Years	666
Debt Securities, Amortized Cost, Total	559	567
Fair Value, Total	666	683
Municipal Bonds [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost, After One Year Through Five Years	519
Fair Value, After One Year Through Five Years	556
Amortized Cost, After Five Years	1,551
Fair Value, After Five Years	1,639
Debt Securities, Amortized Cost, Total	2,070	2,075
Fair Value, Total	$ 2,195	$ 2,221

Securities - Schedule of Inform

Securities - Schedule of Information Pertaining to Securities Available for Sale (Detail) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Schedule of Available-for-sale Securities [Line Items]
Debt securities, gross unrealized losses, less than twelve months		$ 7
Debt securities, fair value, less than twelve months		511
Debt securities, gross unrealized losses, over twelve months	$ 9	3
Debt securities, fair value, over twelve months	594	142
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		7
Debt securities, fair value, less than twelve months		511
Debt securities, gross unrealized losses, over twelve months	9	3
Debt securities, fair value, over twelve months	$ 594	$ 142

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, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Investments Debt And Equity Securities [Abstract]
Net realized gain (loss) on marketable equity securities sold during the period			$ 972	$ (337)
Net unrealized gain (loss) recognized during the reporting period on marketable equity securities still held at the reporting date	$ 200	$ 2,025	1,013	(1,982)
Net gain (loss) recognized during the period on marketable equity securities	$ 200	$ 2,025	$ 1,985	$ (2,319)

Loans - Summary of Loans (Detai

Loans - Summary of Loans (Detail) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Financing Receivable, Allowance for Credit Losses [Line Items]
Total loans, Amount	$ 5,008,805	$ 5,520,413
Less: allowance for credit losses on loans	(64,300)	(68,824)
Net deferred loan origination fees	(7,930)	(7,784)
Loans, net	4,936,575	5,443,805
Commercial and Industrial [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total loans, Amount	703,745	765,195
Construction [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total loans, Amount	645,622	731,432
Total Real Estate Loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total loans, Amount	4,295,311	4,744,511
Residential Portfolio Segment [Member] | Multi-Family Residential Real Estate [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total loans, Amount	809,317	880,552
Residential Portfolio Segment [Member] | One-to Four-Family [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total loans, Amount	489,310	564,146
Residential Portfolio Segment [Member] | Home Equity Lines of Credit [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total loans, Amount	56,032	68,721
Commercial Real Estate Portfolio Segment [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total loans, Amount	2,295,030	2,499,660
Consumer Portfolio Segment [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total loans, Amount	$ 9,749	$ 10,707

Loans - Additional Information

Loans - Additional Information (Detail) $ in Millions	6 Months Ended
	Jun. 30, 2021USD ($)SecurityLoan	Dec. 31, 2020USD ($)SecurityLoan
Accounts, Notes, Loans and Financing Receivable [Line Items]
Servicing loans for participants	$ 188.1	$ 176.4
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
Amount of loans under modification	$ 268.6
Percentage of loan portfolio	5.40%
Commercial Real Estate Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying value of loan pledged	$ 1,188
Multi-Family Residential Real Estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying value of loan pledged	$ 220.2

Loans - Allowance for Credit Lo

Loans - Allowance for Credit Losses (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning balance	$ 63,436	$ 50,946	$ 68,824	$ 50,322
Provision (reversal) for credit losses	749	9,641	(4,487)	10,366
Charge-offs	(73)	(99)	(264)	(213)
Recoveries	188	59	227	72
Ending balance	64,300	60,547	64,300	60,547
Amount of allowance for credit losses for loans deemed to be impaired	2,492		2,492
Amount of allowance for credit losses for loans not deemed to be impaired	61,808		61,808		$ 68,824
Amount of allowance for credit losses for loans deemed to be impaired and loans not deemed to be impaired	64,300		64,300		68,824
Loans deemed to be impaired	8,920		8,920		4,325
Loans not deemed to be impaired	4,999,885		4,999,885		5,516,088
Total, Amount of allowance impaired	5,008,805		5,008,805		5,520,413
Commercial Real Estate Portfolio Segment [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning balance	29,433	26,728	30,145	26,943
Provision (reversal) for credit losses	871	4,941	159	4,726
Ending balance	30,304	31,669	30,304	31,669
Amount of allowance for credit losses for loans deemed to be impaired	2,326		2,326
Amount of allowance for credit losses for loans not deemed to be impaired	27,978		27,978		30,145
Amount of allowance for credit losses for loans deemed to be impaired and loans not deemed to be impaired	30,304		30,304		30,145
Loans deemed to be impaired	8,176		8,176		1,648
Loans not deemed to be impaired	2,286,854		2,286,854		2,498,012
Total, Amount of allowance impaired	2,295,030		2,295,030		2,499,660
Consumer Portfolio Segment [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning balance	445	79	496	116
Provision (reversal) for credit losses	2	(34)	(39)	(18)
Charge-offs	(23)	(16)	(57)	(80)
Recoveries	12	41	36	52
Ending balance	436	70	436	70
Amount of allowance for credit losses for loans not deemed to be impaired	436		436		496
Amount of allowance for credit losses for loans deemed to be impaired and loans not deemed to be impaired	436		436		496
Loans not deemed to be impaired	9,749		9,749		10,707
Total, Amount of allowance impaired	9,749		9,749		10,707
Multi-Family Residential Real Estate [Member] | Residential Portfolio Segment [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning balance	1,722	7,680	2,251	7,825
Provision (reversal) for credit losses	(205)	797	(734)	652
Ending balance	1,517	8,477	1,517	8,477
Amount of allowance for credit losses for loans not deemed to be impaired	1,517		1,517		2,251
Amount of allowance for credit losses for loans deemed to be impaired and loans not deemed to be impaired	1,517		1,517		2,251
Loans not deemed to be impaired	809,317		809,317		880,552
Total, Amount of allowance impaired	809,317		809,317		880,552
One-to Four-Family [Member] | Residential Portfolio Segment [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning balance	1,617	794	2,076	691
Provision (reversal) for credit losses	(239)	723	(630)	826
Charge-offs			(68)
Recoveries	73	13	73	13
Ending balance	1,451	1,530	1,451	1,530
Amount of allowance for credit losses for loans not deemed to be impaired	1,451		1,451		2,076
Amount of allowance for credit losses for loans deemed to be impaired and loans not deemed to be impaired	1,451		1,451		2,076
Loans deemed to be impaired	109		109		602
Loans not deemed to be impaired	489,201		489,201		563,544
Total, Amount of allowance impaired	489,310		489,310		564,146
Home Equity Lines of Credit [Member] | Residential Portfolio Segment [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning balance	166	94	206	69
Provision (reversal) for credit losses	(30)	84	(70)	108
Recoveries	2		2	1
Ending balance	138	178	138	178
Amount of allowance for credit losses for loans not deemed to be impaired	138		138		206
Amount of allowance for credit losses for loans deemed to be impaired and loans not deemed to be impaired	138		138		206
Loans not deemed to be impaired	56,032		56,032		68,721
Total, Amount of allowance impaired	56,032		56,032		68,721
Construction [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning balance	21,586	9,457	25,197	8,913
Provision (reversal) for credit losses	607	1,834	(3,004)	2,378
Recoveries	100		100
Ending balance	22,293	11,291	22,293	11,291
Amount of allowance for credit losses for loans not deemed to be impaired	22,293		22,293		25,197
Amount of allowance for credit losses for loans deemed to be impaired and loans not deemed to be impaired	22,293		22,293		25,197
Loans not deemed to be impaired	645,622		645,622		731,432
Total, Amount of allowance impaired	645,622		645,622		731,432
Commercial and Industrial [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning balance	8,467	6,114	8,453	5,765
Provision (reversal) for credit losses	(257)	1,296	(169)	1,694
Charge-offs	(50)	(83)	(139)	(133)
Recoveries	1	5	16	6
Ending balance	8,161	$ 7,332	8,161	$ 7,332
Amount of allowance for credit losses for loans deemed to be impaired	166		166
Amount of allowance for credit losses for loans not deemed to be impaired	7,995		7,995		8,453
Amount of allowance for credit losses for loans deemed to be impaired and loans not deemed to be impaired	8,161		8,161		8,453
Loans deemed to be impaired	635		635		2,075
Loans not deemed to be impaired	703,110		703,110		763,120
Total, Amount of allowance impaired	$ 703,745		$ 703,745		$ 765,195

Loans - Past Due and Non Accrua

Loans - Past Due and Non Accrual (Detail) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Financing Receivable, Allowance for Credit Losses [Line Items]
Total Past Due	$ 14,804	$ 3,314
Loans on Non-accrual	10,464	3,164
Commercial and Industrial [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total Past Due	635	750
Loans on Non-accrual	635	527
Residential Portfolio Segment [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total Past Due	13,326	1,871
Loans on Non-accrual	9,829	2,637
Residential Portfolio Segment [Member] | Multi-Family Residential Real Estate [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total Past Due	3,943
Commercial Real Estate Portfolio Segment [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total Past Due	8,176
Loans on Non-accrual	8,176
One-to Four-Family [Member] | Residential Portfolio Segment [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total Past Due	1,187	1,851
Loans on Non-accrual	1,633	2,617
Home Equity Lines of Credit [Member] | Residential Portfolio Segment [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total Past Due	20	20
Loans on Non-accrual	20	20
Consumer [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total Past Due	843	693
Financing Receivables, 30 to 59 Days Past Due [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total Past Due	13,178	1,342
Financing Receivables, 30 to 59 Days Past Due [Member] | Commercial and Industrial [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total Past Due		390
Financing Receivables, 30 to 59 Days Past Due [Member] | Residential Portfolio Segment [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total Past Due	12,511	504
Financing Receivables, 30 to 59 Days Past Due [Member] | Residential Portfolio Segment [Member] | Multi-Family Residential Real Estate [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total Past Due	3,943
Financing Receivables, 30 to 59 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total Past Due	8,176
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	392	504
Financing Receivables, 30 to 59 Days Past Due [Member] | Consumer [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total Past Due	667	448
Financing Receivables, 60 to 89 Days Past Due [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total Past Due	522	476
Financing Receivables, 60 to 89 Days Past Due [Member] | Commercial and Industrial [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total Past Due	146
Financing Receivables, 60 to 89 Days Past Due [Member] | Residential Portfolio Segment [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total Past Due	200	231
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	200	231
Financing Receivables, 60 to 89 Days Past Due [Member] | Consumer [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total Past Due	176	245
Financing Receivables, 90 Days or Greater Past Due [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total Past Due	1,104	1,496
Financing Receivables, 90 Days or Greater Past Due [Member] | Commercial and Industrial [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total Past Due	489	360
Financing Receivables, 90 Days or Greater Past Due [Member] | Residential Portfolio Segment [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total Past Due	615	1,136
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	595	1,116
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	$ 20

Loans - Impaired Loans of Compa

Loans - Impaired Loans of Company (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Financing Receivable, Impaired [Line Items]
Impaired Loans Without Valuation Allowance, Recorded Investment			$ 578		$ 4,325
Impaired Loans Without Valuation Allowance, Unpaid Principal Balance			984		4,992
Impaired Loans With Valuation Allowance, Recorded Investment			8,342
Impaired Loans With Valuation Allowance, Unpaid Principal Balance			8,383
Impaired Loans With Valuation Allowance, Related Allowance			2,492
Recorded Investment, Total			8,920		4,325
Unpaid Principal Balance, Total			9,367		4,992
Related Allowance, Total			2,492
Average Recorded Investment	$ 3,471	$ 5,844	2,117	$ 5,782
Interest Income Recognized	85	51	169	112
Interest Income Recognized on Cash Basis	4	6	8	14
One-to Four-Family [Member]
Financing Receivable, Impaired [Line Items]
Impaired Loans Without Valuation Allowance, Recorded Investment			109		602
Impaired Loans Without Valuation Allowance, Unpaid Principal Balance			185		940
Average Recorded Investment	109	1,213	110	1,216
Interest Income Recognized	4	13	4	27
Interest Income Recognized on Cash Basis	4	6	4	14
Commercial and Industrial [Member]
Financing Receivable, Impaired [Line Items]
Impaired Loans Without Valuation Allowance, Recorded Investment			469		2,075
Impaired Loans Without Valuation Allowance, Unpaid Principal Balance			799		2,404
Impaired Loans With Valuation Allowance, Recorded Investment			166
Impaired Loans With Valuation Allowance, Unpaid Principal Balance			207
Impaired Loans With Valuation Allowance, Related Allowance			166
Recorded Investment, Total			635		2,075
Related Allowance, Total			166
Average Recorded Investment	635	2,495	640	2,517
Interest Income Recognized		17	4	43
Interest Income Recognized on Cash Basis			4
Commercial Real Estate Portfolio Segment [Member]
Financing Receivable, Impaired [Line Items]
Impaired Loans Without Valuation Allowance, Recorded Investment					1,648
Impaired Loans Without Valuation Allowance, Unpaid Principal Balance					1,648
Impaired Loans With Valuation Allowance, Recorded Investment			8,176
Impaired Loans With Valuation Allowance, Unpaid Principal Balance			8,176
Impaired Loans With Valuation Allowance, Related Allowance			2,326
Recorded Investment, Total			8,176		$ 1,648
Related Allowance, Total			2,326
Average Recorded Investment	2,727	2,136	1,367	2,049
Interest Income Recognized	$ 81	$ 21	$ 161	$ 42

Loans - Summary of Troubled Deb

Loans - Summary of Troubled Debt Restructurings (TDRs) (Detail) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Financing Receivable, Modifications [Line Items]
Total TDRs on accrual status	$ 1,492	$ 1,731
Total TDRs on non-accrual status	109	420
Total TDRs	1,601	2,151
One-to Four-Family [Member]
Financing Receivable, Modifications [Line Items]
Total TDRs on accrual status	1,492	1,731
Total TDRs on non-accrual status	$ 109	$ 420

Loans - Risk Rated Loans by Cla

Loans - Risk Rated Loans by Class (Detail) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Multi-Family Residential Real Estate [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable Credit Quality Rating	$ 809,317	$ 880,552
Commercial Real Estate Portfolio Segment [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable Credit Quality Rating	2,295,030	2,499,660
Construction [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable Credit Quality Rating	645,622	731,432
Commercial and Industrial [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable Credit Quality Rating	703,745	765,195
Loans rated 1 - 6 [Member] | Multi-Family Residential Real Estate [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable Credit Quality Rating	809,317	880,552
Loans rated 1 - 6 [Member] | Commercial Real Estate Portfolio Segment [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable Credit Quality Rating	2,200,420	2,483,867
Loans rated 1 - 6 [Member] | Construction [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable Credit Quality Rating	645,622	731,432
Loans rated 1 - 6 [Member] | Commercial and Industrial [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable Credit Quality Rating	648,965	704,534
Loans Rated 7 [Member] | Commercial Real Estate Portfolio Segment [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable Credit Quality Rating	86,434	15,793
Loans Rated 7 [Member] | Commercial and Industrial [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable Credit Quality Rating	34,036	37,093
Loans Rated 8 [Member] | Commercial Real Estate Portfolio Segment [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable Credit Quality Rating	8,176
Loans Rated 8 [Member] | Commercial and Industrial [Member]
Financing Receivable, Recorded Investment [Line Items]
Financing Receivable Credit Quality Rating	$ 20,744	$ 23,568

Deposits - Summary of Deposit B

Deposits - Summary of Deposit Balances, by Type (Detail) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Banking Deposits And Thrift [Abstract]
Noninterest-bearing demand deposits	$ 801,612	$ 711,573
Interest-bearing demand deposits	1,270,484	1,364,548
Money market deposits	863,526	930,507
Regular savings and other deposits	866,191	855,329
Total non-certificate accounts	3,801,813	3,861,957
Term certificates less than $250,000	747,134	883,133
Term certificates $250,000 and greater	314,780	336,077
Total certificate accounts	1,061,914	1,219,210
Total deposits	$ 4,863,727	$ 5,081,167

Deposits - Summary of Term Cert

Deposits - Summary of Term Certificates, by Maturity (Detail) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Banking Deposits And Thrift [Abstract]
Within 1 year, Amount	$ 828,443	$ 883,747
Over 1 year to 2 years, Amount	106,428	194,698
Over 2 years to 3 years, Amount	39,602	40,338
Over 3 years to 4 years, Amount	51,924	53,580
Over 4 years to 5 years, Amount	35,431	46,847
Greater than 5 years, Amount	86
Total certificate accounts	$ 1,061,914	$ 1,219,210
Within 1 year, Weighted Average Rate	0.81%	1.03%
Over 1 year to 2 years, Weighted Average Rate	1.21%	1.29%
Over 2 year to 3 years, Weighted Average Rate	0.81%	1.21%
Over 3 year to 4 years, Weighted Average Rate	0.65%	0.75%
Over 4 years to 5 years, Weighted Average Rate	0.62%	0.68%
Greater than 5 Years, Weighted Average Rate	0.79%
Weighted average rate on term certificates	0.84%	1.05%

Deposits - Additional Informati

Deposits - Additional Information (Detail) - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Banking Deposits And Thrift [Abstract]
Brokered certificate of deposit included in term certificates	$ 143,700,000	$ 212,000,000
Weighted average rate of deposit included in term certificates	1.18%	1.29%
Brokered certificate of deposit included in term certificates	$ 36,700,000	$ 50,600,000
Weighted average rate of deposit included in term certificates	1.16%	1.01%
Brokered interest-bearing demand deposits	$ 0	$ 175,600,000

Borrowings - Additional Informa

Borrowings - Additional Information (Detail) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Debt Disclosure [Line Items]
Short-term borrowings	$ 0	$ 0
Available line of credit with the FHLB	10,000,000
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	220,200,000
Commercial Real Estate Portfolio Segment [Member]
Debt Disclosure [Line Items]
Carrying value of commercial real estate loans pledged	1,188,000,000
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	$ 560,600,000
Borrowing from Federal Reserve Bank discount window	$ 0	$ 97,600,000
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) - Fixed Interest Rate [Member] - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
2021		$ 50,000
2022	$ 150,625	150,625
2023	295,000	295,000
2024	20,000	20,000
2025	85,000	85,000
Thereafter	10,000	10,000
Total advances	$ 560,625	$ 610,625
Weighted Average Rate, 2021		1.18%
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%	1.00%
Weighted Average Rate, Thereafter	1.21%	1.21%
Weighted Average Rate	2.44%	2.33%

Commitments and Contingencies_3

Commitments and Contingencies and Derivatives - Loan Commitments Outstanding (Detail) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Loss Contingencies [Line Items]
Total loan commitments outstanding	$ 1,026,134	$ 1,075,220
Construction [Member] | Unadvanced Portion of Existing Loans [Member]
Loss Contingencies [Line Items]
Total loan commitments outstanding	430,375	501,911
Construction [Member] | Unfunded Loan Commitment [Member]
Loss Contingencies [Line Items]
Total loan commitments outstanding	82,291	76,615
Home Equity Lines of Credit [Member] | Unadvanced Portion of Existing Loans [Member]
Loss Contingencies [Line Items]
Total loan commitments outstanding	81,744	79,579
One-to Four-Family [Member] | Unfunded Loan Commitment [Member]
Loss Contingencies [Line Items]
Total loan commitments outstanding	24,872	41,454
Commercial Real Estate Portfolio Segment [Member] | Unfunded Loan Commitment [Member]
Loss Contingencies [Line Items]
Total loan commitments outstanding	14,663	16,540
Other Lines and Letters of Credit [Member] | Unadvanced Portion of Existing Loans [Member]
Loss Contingencies [Line Items]
Total loan commitments outstanding	370,567	350,708
Commercial and Industrial [Member] | Unfunded Loan Commitment [Member]
Loss Contingencies [Line Items]
Total loan commitments outstanding	$ 21,622	$ 8,413

Commitments and Contingencies_4

Commitments and Contingencies and Derivatives - Additional Information (Detail) - USD ($) $ in Millions	Nov. 25, 2019	Oct. 31, 2019	Jun. 30, 2021	Dec. 31, 2020
Derivative Instruments, Gain (Loss) [Line Items]
Cash pledged for collateral interest rate swap			$ 7.2	$ 11.4
Loss contingency, accrued estimated judgment			3.3
Pending Litigation [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Loss contingency damages, amount	$ 1	$ 1
Loss contingency damages awarded, amount	$ 2.1
Core Data Processing Provider [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Other outstanding commitments			$ 2.2

Commitments and Contingencies_5

Commitments and Contingencies and Derivatives - Summary Information Regarding the Derivatives (Detail) - USD ($)	6 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Customer Interest Rate Swap Maturing on 06/07/32 [Member]
Loss Contingencies [Line Items]
Notional amount	$ 59,925,000	$ 60,782,000
Fair value asset (liability)	$ 6,026,000	8,886,000
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	$ 59,925,000	60,782,000
Fair value asset (liability)	$ (6,026,000)	(8,886,000)
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	$ 9,644,000	9,831,000
Fair value asset (liability)	$ 1,078,000	1,401,000
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	$ 9,644,000	9,831,000
Fair value asset (liability)	$ (1,078,000)	(1,401,000)
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	$ 2,302,000	2,390,000
Fair value asset (liability)	$ 96,000	154,000
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	$ 2,302,000	2,390,000
Fair value asset (liability)	$ (96,000)	$ (154,000)
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, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	$ 9,810	$ 11,326
Marketable equity securities	9,112	12,189
Total liabilities	7,200	10,441
Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	26,122	33,956
Loan Level Interest Rate Swaps [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loan level interest rate swaps	7,200	10,441
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	7,200	10,441
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable equity securities	9,112	12,189
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	9,112	12,189
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities	9,810	11,326
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	9,810	11,326
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total liabilities	7,200	10,441
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	7,200	10,441
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	7,200	10,441
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	$ 7,200	$ 10,441

Fair Values of Assets and Lia_4

Fair Values of Assets and Liabilities - Additional Information (Detail) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loan, related loss	$ 2,492
Impaired loan with related loss	8,342
Impaired Loans [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans measured at fair value	8,800	$ 3,700
Commercial Real Estate Loan [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loan, related loss	2,326
Impaired loan with related loss	$ 8,176

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, 2021	Dec. 31, 2020
Financial assets:
Securities available for sale, at fair value	$ 9,810	$ 11,326
Marketable equity securities, at fair value	9,112	12,189
Fair Value, Inputs, Level 1 [Member]
Financial assets:
Marketable equity securities, at fair value	9,112	12,189
Carrying Amount [Member]
Financial assets:
Cash and due from banks	1,101,359	914,586
Securities available for sale, at fair value	9,810	11,326
Marketable equity securities, at fair value	9,112	12,189
Federal Home Loan Bank stock	26,184	30,658
Loans and loans held for sale, net	4,942,286	5,452,029
Accrued interest receivable	19,932	23,173
Financial liabilities:
Deposits	4,863,727	5,081,167
Borrowings	560,625	708,245
Accrued interest payable	1,872	2,832
Carrying Amount [Member] | Interest Rate Swaps [Member]
Financial assets:
Loan level interest rate swaps	7,200	10,441
Financial liabilities:
Loan level interest rate swaps	7,200	10,441
Fair Value [Member]
Financial assets:
Cash and due from banks	1,101,359	914,586
Securities available for sale, at fair value	9,810	11,326
Marketable equity securities, at fair value	9,112	12,189
Federal Home Loan Bank stock	26,184	30,658
Loans and loans held for sale, net	5,000,222	5,480,258
Accrued interest receivable	19,932	23,173
Financial liabilities:
Deposits	4,810,887	5,172,060
Borrowings	578,120	732,302
Accrued interest payable	1,872	2,832
Fair Value [Member] | Interest Rate Swaps [Member]
Financial assets:
Loan level interest rate swaps	7,200	10,441
Financial liabilities:
Loan level interest rate swaps	7,200	10,441
Fair Value [Member] | Fair Value, Inputs, Level 1 [Member]
Financial assets:
Cash and due from banks	1,101,359	914,586
Marketable equity securities, at fair value	9,112	12,189
Fair Value [Member] | Fair Value, Inputs, Level 2 [Member]
Financial assets:
Securities available for sale, at fair value	9,810	11,326
Financial liabilities:
Borrowings	578,120	732,302
Fair Value [Member] | Fair Value, Inputs, Level 3 [Member]
Financial assets:
Federal Home Loan Bank stock	26,184	30,658
Loans and loans held for sale, net	5,000,222	5,480,258
Accrued interest receivable	19,932	23,173
Financial liabilities:
Deposits	4,810,887	5,172,060
Accrued interest payable	1,872	2,832
Fair Value [Member] | Fair Value, Inputs, Level 3 [Member] | Interest Rate Swaps [Member]
Financial assets:
Loan level interest rate swaps	7,200	10,441
Financial liabilities:
Loan level interest rate swaps	$ 7,200	$ 10,441