Loans Receivable Held for Investment (Tables)

3 Months Ended

Mar. 31, 2014

Loans Receivable Held for Investment

Schedule of loans receivable

	March 31, 2014		December 31, 2013
	(In thousands)
Real estate:
One-to-four units	$	45,501	$	46,459
Five or more units	125,062		113,268
Commercial real estate	24,352		26,697
Church	62,774		67,934
Construction	418		424
Commercial:
Sports	-		1,408
Other	617		659
Consumer	21		38
Total gross loans receivable	258,745		256,887
Loans in process	(60)		(50)
Net deferred loan costs	1,109		901
Unamortized premium	251		255
Allowance for loan losses	(10,091)		(10,146)
Loans receivable, net	$	249,954	$	247,847

Activity in the Allowance for Loan Losses by Portfolio Segment

	Three Months Ended March 31, 2014
	One-to- four units			Five or more units		Commercial real estate			Church			Construction		Commercial			Consumer			Total
	(In thousands)
Beginning balance	$	1,930		$	1,726	$	1,473		$	4,949		$	7	$	55		$	6		$	10,146
Provision for (recapture of) loan losses	(55		)	381		(252		)	(55		)	-		(1,099		)	(2		)	(1,082		)
Recoveries	2			-		-			156			-		1,082			-			1,240
Loans charged off	(3		)	-		(9		)	(183		)	-		(18		)	-			(213		)
Ending balance	$	1,874		$	2,107	$	1,212		$	4,867		$	7	$	20		$	4		$	10,091

	Three Months Ended March 31, 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 (recapture of) loan losses	(449		)	(361		)	(207		)	1,029			-		(12		)	-		-
Recoveries	259			-			15			7			-		95			-		376
Loans charged off	(36		)	(638		)	(944		)	(177		)	-		-			-		(1,795		)
Ending balance	$	1,834		$	1,123		$	1,549		$	5,677		$	8	$	250		$	9	$	10,450

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

	March 31, 2014
	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	$	377	$	141	$	194	$	1,160	$	-	$	12	$	-	$	1,884
Collectively evaluated for impairment	1,497		1,966		1,018		3,707		7		8		4		8,207
Total ending allowance balance	$	1,874	$	2,107	$	1,212	$	4,867	$	7	$	20	$	4	$	10,091
Loans:
Loans individually evaluated for impairment	$	2,880	$	3,556	$	4,863	$	17,419	$	-	$	138	$	-	$	28,856
Loans collectively evaluated for impairment	42,621		121,506		19,489		45,355		418		479		21		229,889
Total ending loans balance	$	45,501	$	125,062	$	24,352	$	62,774	$	418	$	617	$	21	$	258,745

	December 31, 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	$	382	$	143	$	206	$	1,444	$	-	$	12	$	-	$	2,187
Collectively evaluated for impairment	1,548		1,583		1,267		3,505		7		43		6		7,959
Total ending allowance balance	$	1,930	$	1,726	$	1,473	$	4,949	$	7	$	55	$	6	$	10,146
Loans:
Loans individually evaluated for impairment	$	3,053	$	4,163	$	4,894	$	21,243	$	-	$	150	$	-	$	33,503
Loans collectively evaluated for impairment	43,406		109,105		21,803		46,691		424		1,917		38		223,384
Total ending loans balance	$	46,459	$	113,268	$	26,697	$	67,934	$	424	$	2,067	$	38	$	256,887

Loans Individually Evaluated for Impairment by Type of Loans

	March 31, 2014						December 31, 2013
	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	$	1,962	$	1,276	$	-	$	2,114	$	1,441	$	-
Five or more units	1,783		1,698		-		2,690		2,598		-
Commercial real estate	4,864		1,368		-		4,867		1,391		-
Church	10,613		7,432		-		11,806		8,446		-
Commercial:
Sports	-		-		-		3,850		-		-
Other	18		-		-		-		-		-
With an allowance recorded:
One-to-four units	1,604		1,604		377		1,612		1,612		382
Five or more units	1,897		1,858		141		1,578		1,565		143
Commercial real estate	3,495		3,495		194		3,503		3,503		206
Church	10,064		9,987		1,160		12,862		12,797		1,444
Commercial:
Other	138		138		12		150		150		12
Total	$	36,438	$	28,856	$	1,884	$	45,032	$	33,503	$	2,187

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

	Three Months Ended
	March 31, 2014				March 31, 2013
	Average Recorded Investment		Cash Basis Interest Income Recognized		Average Recorded Investment		Cash Basis Interest Income Recognized
	(In thousands)
One-to-four units	$	3,000	$	17	$	3,987	$	32
Five or more units	3,861		23		3,507		16
Commercial real estate	4,881		93		9,154		81
Church	19,719		141		24,139		137
Construction	-		-		202		5
Commercial:
Other	144		3		142		-
Total	$	31,605	$	277	$	41,131	$	271

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

	March 31, 2014
	30-59DaysPast Due		60-89DaysPast Due		Greater than90 DaysPast Due		TotalPast Due		Total Loans Not Past Due
	(In thousands)
One-to-four units	$	957	$	-	$	457	$	1,414	$	44,087
Five or more units	-		-		-		-		125,062
Commercial real estate	-		-		1,007		1,007		23,345
Church	162		-		1,760		1,922		60,852
Construction	-		-		-		-		418
Commercial:
Other	70		-		-		70		547
Consumer	-		-		-		-		21
Total	$	1,189	$	-	$	3,224	$	4,413	$	254,332

	December 31, 2013
	30-59DaysPast Due		60-89DaysPast Due		Greater than90 DaysPast Due		TotalPast Due		Total Loans Not Past Due
	(In thousands)
One-to-four units	$	802	$	-	$	585	$	1,387	$	45,072
Five or more units	-		-		545		545		112,723
Commercial real estate	346		-		1,016		1,362		25,335
Church	2,557		323		4,877		7,757		60,177
Construction	-		-		-		-		424
Commercial:
Sports	-		-		-		-		1,408
Other	82		-		-		82		577
Consumer	-		-		-		-		38
Total	$	3,787	$	323	$	7,023	$	11,133	$	245,754

Recorded Investment in Nonaccrual Loans by Type of Loans

	March 31, 2014		December 31, 2013
	(In thousands)
One-to-four units	$	1,291	$	1,441
Five or more units	2,083		2,985
Commercial real estate	1,366		1,391
Church	8,269		11,735
Commercial:
Other	138		150
Total non-accrual loans	$	13,147	$	17,702

Loans by Type Modified as Troubled Debt Restructurings

	Three Months Ended March 31, 2014					Three Months Ended March 31, 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	$	715	$	765
Total	-	$	-	$	-	5	$	715	$	765

Risk Category of Loans by Type of Loans

	March 31, 2014
	Pass		Special Mention		Substandard		Doubtful		Loss
	(In thousands)
One-to-four units	$	40,699	$	3,521	$	1,281	$	-	$	-
Five or more units	117,196		2,940		4,926		-		-
Commercial real estate	18,054		527		5,771		-		-
Church	33,072		17,591		12,111		-		-
Construction	418		-		-		-		-
Commercial:
Other	479		-		138		-		-
Consumer	21		-		-		-		-
Total	$	209,939	$	24,579	$	24,227	$	-	$	-

	December 31, 2013
	Pass		Special Mention		Substandard		Doubtful		Loss
	(In thousands)
One-to-four units	$	41,481	$	3,537	$	1,441	$	-	$	-
Five or more units	105,427		2,305		5,536		-		-
Commercial real estate	18,154		529		8,014		-		-
Church	34,367		17,657		15,910		-		-
Construction	424		-		-		-		-
Commercial:
Sports	-		1,408		-		-		-
Other	490		19		150		-		-
Consumer	38		-		-		-		-
Total	$	200,381	$	25,455	$	31,051	$	-	$	-