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Loans Receivable Held for Investment (Tables)

9 Months Ended

Sep. 30, 2013

Loans receivable held for investment

Activity in the Allowance for Loan Losses by Portfolio Segment

	Three Months Ended September 30, 2013
	One-to- four units			Five or more units			Commercial real estate			Church			Construction			Commercial			Consumer			Total
	(In thousands)
Beginning balance	$	2,445		$	1,169		$	1,674		$	5,060		$	8		$	213		$	10		$	10,579
Provision for loan losses	(315		)	351			72			523			(1		)	(213		)	(3		)	414
Recoveries	-			-			16			5			-			59			-			80
Loans charged off	(51		)	(3		)	(190		)	(490		)	-			-			-			(734		)
Ending balance	$	2,079		$	1,517		$	1,572		$	5,098		$	7		$	59		$	7		$	10,339

	Nine Months Ended September 30, 2013
	One-to- four units			Five or more units			Commercial real estate			Church			Construction			Commercial			Consumer			Total
	(In thousands)
Beginning balance	$	2,060		$	2,122		$	2,685		$	4,818		$	8		$	167		$	9		$	11,869
Provision for loan losses	(150		)	56			(96		)	929			(1		)	(322		)	(2		)	414
Recoveries	259			-			117			18			-			214			-			608
Loans charged off	(90		)	(661		)	(1,134		)	(667		)	-			-			-			(2,552		)
Ending balance	$	2,079		$	1,517		$	1,572		$	5,098		$	7		$	59		$	7		$	10,339

	Three Months Ended September 30, 2012
	One-to- four units			Five or more units			Commercial real estate			Church			Construction			Commercial			Consumer			Total
	(In thousands)
Beginning balance	$	4,701		$	2,897		$	2,640		$	7,223		$	106		$	270		$	19		$	17,856
Provision for loan losses	453			(326		)	135			3			(1		)	(126		)	(9		)	129
Recoveries	-			1			15			3			-			97			3			119
Loans charged off	(539		)	(14		)	(346		)	(221		)	-			-			-			(1,120		)
Ending balance	$	4,615		$	2,558		$	2,444		$	7,008		$	105		$	241		$	13		$	16,984

	Nine Months Ended September 30, 2012
	One-to- four units			Five or more units			Commercial real estate			Church			Construction			Commercial			Consumer			Total
	(In thousands)
Beginning balance	$	4,855		$	2,972		$	3,108		$	5,742		$	249		$	316		$	57		$	17,299
Provision for loan losses	654			(401		)	(305		)	1,864			(144		)	(427		)	(51		)	1,190
Recoveries	-			1			45			10			-			352			7			415
Loans charged off	(894		)	(14		)	(404		)	(608		)	-			-			-			(1,920		)
Ending balance	$	4,615		$	2,558		$	2,444		$	7,008		$	105		$	241		$	13		$	16,984

Allowance for Loan Losses and Recorded Investment in Loans By Portfolio Segment and Based on Impairment Method

	September 30, 2013
	One-to- four units		Five or more units		Commercial real estate		Church		Construction		Commercial		Consumer		Total
	(In thousands)
Allowance for loan losses:
Ending allowance balance attributable to loans:
Individually evaluated for impairment	$	508	$	147	$	293	$	1,486	$	-	$	16	$	-	$	2,450
Collectively evaluated for impairment	1,571		1,370		1,279		3,612		7		43		7		7,889
Total ending allowance balance	$	2,079	$	1,517	$	1,572	$	5,098	$	7	$	59	$	7	$	10,339
Loans:
Loans individually evaluated for impairment	$	3,674	$	4,226	$	7,936	$	22,552	$	-	$	162	$	-	$	38,550
Loans collectively evaluated for impairment	46,622		100,075		25,008		48,168		434		1,931		36		222,274
Total ending loans balance	$	50,296	$	104,301	$	32,944	$	70,720	$	434	$	2,093	$	36	$	260,824

	December 31, 2012
	One-to- four units		Five or more units		Commercial real estate		Church		Construction		Commercial		Consumer		Total
	(In thousands)
Allowance for loan losses:
Ending allowance balance attributable to loans:
Individually evaluated for impairment	$	719	$	125	$	543	$	1,276	$	-	$	69	$	-	$	2,732
Collectively evaluated for impairment	1,341		1,997		2,142		3,542		8		98		9		9,137
Total ending allowance balance	$	2,060	$	2,122	$	2,685	$	4,818	$	8	$	167	$	9	$	11,869
Loans:
Loans individually evaluated for impairment	$	4,576	$	3,766	$	10,364	$	25,328	$	273	$	69	$	-	$	44,376
Loans collectively evaluated for impairment	53,157		79,584		30,760		50,926		462		3,826		35		218,750
Total ending loans balance	$	57,733	$	83,350	$	41,124	$	76,254	$	735	$	3,895	$	35	$	263,126

Loans Individually Evaluated for Impairment by Type of Loans

	September 30, 2013						December 31, 2012
	Unpaid Principal Balance		Recorded Investment		Allowance for Loan Losses Allocated		Unpaid Principal Balance		Recorded Investment		Allowance for Loan Losses Allocated
	(In thousands)
With no related allowance recorded:
One-to-four units	$	2,348	$	1,694	$	-	$	1,986	$	1,484	$	-
Five or more units	2,703		2,647		-		2,038		1,819		-
Commercial real estate	4,869		1,451		-		10,184		6,423		-
Church	12,938		9,695		-		18,664		15,689		-
Construction	-		-		-		279		273		-
Commercial:
Sports	3,850		-		-		3,888		-		-
With an allowance recorded:
One-to-four units	1,980		1,980		508		3,092		3,092		719
Five or more units	1,586		1,579		147		1,947		1,947		125
Commercial real estate	6,491		6,485		293		3,941		3,941		543
Church	12,911		12,857		1,486		9,677		9,639		1,276
Commercial:
Other	162		162		16		69		69		69
Total	$	49,838	$	38,550	$	2,450	$	55,765	$	44,376	$	2,732

Average of Loans Individually Evaluated for Impairment by Type of Loans and Related Interest Income

	Three Months Ended September 30, 2013				Nine Months Ended September 30, 2013
	Average Recorded Investment		Cash Basis Interest Income Recognized		Average Recorded Investment		Cash Basis Interest Income Recognized
	(In thousands)
One-to-four units	$	3,699	$	30	$	3,822	$	91
Five or more units	3,347		15		3,215		55
Commercial real estate	6,986		182		7,778		405
Church	22,472		131		23,027		407
Construction	-		-		81		5
Commercial:
Other	165		2		156		8
Total	$	36,669	$	360	$	38,079	$	971

	Three Months Ended September 30, 2012				Nine Months Ended September 30, 2012
	Average Recorded Investment		Cash Basis Interest Income Recognized		Average Recorded Investment		Cash Basis Interest Income Recognized
	(In thousands)
One-to-four units	$	14,143	$	120	$	13,844	$	354
Five or more units	2,266		10		3,047		50
Commercial real estate	8,251		115		7,847		260
Church	31,094		237		31,709		834
Construction	288		3		294		12
Commercial:
Other	70		2		70		4
Total	$	56,112	$	487	$	56,811	$	1,514

Recorded Investment in Nonaccrual Loans by Type of Loans

	September 30, 2013		December 31, 2012
	(In thousands)
Loans receivable held for sale:
One-to-four units	$	-	$	6,656
Five or more units	-		1,956
Church	785		1,556
Loans receivable held for investment:
One-to-four units	1,694		1,489
Five or more units	3,041		2,312
Commercial real estate	1,451		7,090
Church	13,002		15,689
Construction	-		273
Commercial:
Other	162		69
Total non-accrual loans	$	20,135	$	37,090

Aging of Recorded Investment in Past Due Loans, Including Loans Receivable Held For Sale

	September 30, 2013
	30-59 Days Past Due		60-89 Days Past Due		Greater than 90 Days Past Due		Total Past Due		Total Loans Not Past Due
	(In thousands)
Loans receivable held for sale:
Church	$	-	$	-	$	785	$	785	$	300
Loans receivable held for investment:
One-to-four units	876		-		1,694		2,570		47,726
Five or more units	-		-		3,041		3,041		101,260
Commercial real estate	-		-		1,451		1,451		31,493
Church	419		-		13,002		13,421		57,299
Construction	-		-		-		-		434
Commercial:
Sports	-		-		-		-		1,423
Other	-		20		162		182		488
Consumer:
Other	-		-		-		-		36
Total	$	1,295	$	20	$	20,135	$	21,450	$	240,459

	December 31, 2012
	30-59 Days Past Due		60-89 Days Past Due		Greater than 90 Days Past Due		Total Past Due		Total Loans Not Past Due
	(In thousands)
Loans receivable held for sale:
One-to-four units	$	-	$	871	$	6,656	$	7,527	$	389
Five or more units	-		-		1,956		1,956		3,839
Commercial real estate	-		-		-		-		1,358
Church	-		-		1,556		1,556		2,744
Loans receivable held for investment:
One-to-four units	1,077		-		1,489		2,566		55,167
Five or more units	587		554		2,312		3,453		79,897
Commercial real estate	-		-		7,090		7,090		34,034
Church	1,617		-		15,689		17,306		58,948
Construction	-		-		273		273		462
Commercial:
Sports	-		-		-		-		1,711
Other	-		-		69		69		2,115
Consumer:
Other	-		-		-		-		35
Total	$	3,281	$	1,425	$	37,090	$	41,796	$	240,699

Loans by Type Modified as Troubled Debt Restructurings

	Three Months Ended September 30, 2013					Nine Months Ended September 30, 2013
	Number of Loans	Pre- Modification Outstanding Recorded Investment		Post- Modification Outstanding Recorded Investment		Number of Loans	Pre- Modification Outstanding Recorded Investment		Post- Modification Outstanding Recorded Investment
	(Dollars in thousands)
One-to-four units	-	$	-	$	-	5	$	739	$	789
Commercial real estate	-	-		-		1	1,456		1,497
Total	-	$	-	$	-	6	$	2,195	$	2,286

	Three Months Ended September 30, 2012					Nine Months Ended September 30, 2012
	Number of Loans	Pre- Modification Outstanding Recorded Investment		Post- Modification Outstanding Recorded Investment		Number of Loans	Pre- Modification Outstanding Recorded Investment		Post- Modification Outstanding Recorded Investment
	(Dollars in thousands)
One-to-four units	-	$	-	$	-	1	$	36	$	36
Commercial real estate	-	-		-		2	734		740
Church	1	503		503		9	3,902		3,907
Total	1	$	503	$	503	12	$	4,672	$	4,683

Risk Category of Loans by Type of Loans

	September 30, 2013
	Pass		Special Mention		Substandard		Doubtful		Loss
	(In thousands)
One-to-four units	$	45,048	$	3,554	$	1,694	$	-	$	-
Five or more units	95,955		2,742		5,604		-		-
Commercial real estate	23,219		1,632		8,093		-		-
Church	35,389		16,898		18,433		-		-
Construction	434		-		-		-		-
Commercial:
Sports	-		1,423		-		-		-
Other	488		20		162		-		-
Consumer:
Other	36		-		-		-		-
Total	$	200,569	$	26,269	$	33,986	$	-	$	-

	December 31, 2012
	Pass		Special Mention		Substandard		Doubtful		Loss
	(In thousands)
One-to-four units	$	55,613	$	631	$	1,489	$	-	$	-
Five or more units	73,673		5,250		4,427		-		-
Commercial real estate	25,605		2,541		12,921		57		-
Church	33,532		19,502		23,220		-		-
Construction	462		-		273		-		-
Commercial:
Sports	-		1,711		-		-		-
Other	1,877		141		166		-		-
Consumer:
Other	35		-		-		-		-
Total	$	190,797	$	29,776	$	42,496	$	57	$	-

Loans receivable held for investment

Loans receivable held for investment

Schedule of loans receivable

	September 30, 2013			December 31, 2012
	(In thousands)
Real estate:
One-to-four units	$	50,296		$	57,733
Five or more units	104,301			83,350
Commercial real estate	32,944			41,124
Church	70,720			76,254
Construction	434			735
Commercial:
Sports	1,423			1,711
Other	670			2,184
Consumer:
Other	36			35
Total gross loans receivable	260,824			263,126
Loans in process	(25		)	(74		)
Net deferred loan costs	784			557
Unamortized premium (discounts)	260			(17		)
Allowance for loan losses	(10,339		)	(11,869		)
Loans receivable, net	$	251,504		$	251,723