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Loans Receivable Held for Investment (Tables)
 3 Months Ended
Mar. 31, 2015
Loans Receivable Held for Investment  
Schedule of loans receivable

 

 

March 31, 2015

 

December 31, 2014

 

 

(In thousands)

 

Real estate:

 

 

 

 

 

 

 

Single family

 

$
35,866

 

 

 

$
40,055

 

Multi-family

 
180,430

 

 

 
173,550

 

Commercial real estate

 
13,718

 

 

 
16,719

 

Church

 
49,545

 

 

 
54,127

 

Construction

 
376

 

 

 
387

 

Commercial – other

 
239

 

 

 
261

 

Consumer

 
11

 

 

 
9

 

Gross loans receivable

 
280,185

 

 

 
285,108

 

Allowance for loan losses

 
(7,671

)

 

 
(8,465

)

Loans receivable, net

 

$
272,514

 

 

 

$
276,643

 

 

Activity in the allowance for loan losses by loan type

 

 

 

Three Months Ended March 31, 2015

 

 

Real Estate

 

 

 

 

 

 

 

 

Single
family

 

Multi-
family

 

Commercial
real estate

 

Church

 

Construction

 

Commercial
- other

 

Consumer

 

Total

 

 

(In thousands)

Beginning balance

 

  $
1,174 

 

 $
2,726 

 

 $
496 

 

 $
4,047 

 

 $
7 

 

 $
12 

 

 $
3 

 

 $
8,465 

Provision for (recapture of) loan losses

 
(10)

 
15 

 
(60)

 
(689)

 
(3)

 
(1)

 
(2)

 
(750)

Recoveries

 

-

 

-

 

-

 
6 

 

-

 

-

 

-

 
6 

Loans charged off

 

-

 

-

 

-

 
(50)

 

-

 

-

 

-

 
(50)

Ending balance

 

  $
1,164 

 

 $
2,741 

 

 $
436 

 

 $
3,314 

 

 $
4 

 

 $
11 

 

 $
1 

 

 $
7,671 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended March 31, 2014

 

 

Real Estate

 

 

 

 

 

 

 

 

Single

family

 

Multi-

family

 

Commercial

real estate

 

Church

 

Construction

 

Commercial
- other

 

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 

 

Allowance for loan losses and recorded investment in loans by loan type and based on impairment method

 

 

 

March 31, 2015

 

 

Real Estate

 

 

 

 

 

 

 

 

Single
family

 

Multi-
family

 

Commercial
real estate

 

Church

 

Construction

 

Commercial
- other

 

Consumer

 

Total

 

 

(In thousands)

Allowance for loan losses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ending allowance balance attributable to loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Individually evaluated for impairment

 

  $
140 

 

 $
85 

 

 $
112 

 

 $
1,198 

 

 $

-

 

 $
9 

 

 $

-

 

 $
1,544 

Collectively evaluated for impairment

 
1,024 

 
2,656 

 
324 

 
2,116 

 
4 

 
2 

 
1 

 
6,127 

Total ending allowance balance

 

  $
1,164 

 

 $
2,741 

 

 $
436 

 

 $
3,314 

 

 $
4 

 

 $
11 

 

 $
1 

 

 $
7,671 

Loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loans individually evaluated for impairment

 

  $
1,377 

 

 $
2,720 

 

 $
3,161 

 

 $
13,537 

 

 $

-

 

 $
89 

 

 $

-

 

 $
20,884 

Loans collectively evaluated for impairment

 
34,489 

 
177,710 

 
10,557 

 
36,008 

 
376 

 
150 

 
11 

 
259,301 

Total ending loans balance

 

  $
35,866 

 

 $
180,430 

 

 $
13,718 

 

 $
49,545 

 

 $
376 

 

 $
239 

 

 $
11 

 

 $
280,185 

 

 

 

December 31, 2014

 

 

Real Estate

 

 

 

 

 

 

 

 

Single
family

 

Multi-
family

 

Commercial
real estate

 

Church

 

Construction

 

Commercial
- other

 

Consumer

 

Total

 

 

(In thousands)

Allowance for loan losses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ending allowance balance attributable to loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Individually evaluated for impairment

 

  $
132 

 

 $
115 

 

 $
161 

 

 $
1,088 

 

 $

-

 

 $
10 

 

 $

-

 

 $
1,506 

Collectively evaluated for impairment

 
1,042 

 
2,611 

 
335 

 
2,959 

 
7 

 
2 

 
3 

 
6,959 

Total ending allowance balance

 

  $
1,174 

 

 $
2,726 

 

 $
496 

 

 $
4,047 

 

 $
7 

 

 $
12 

 

 $
3 

 

 $
8,465 

Loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loans individually evaluated for impairment

 

  $
1,414 

 

 $
2,765 

 

 $
4,636 

 

 $
14,602 

 

 $

-

 

 $
102 

 

 $

-

 

 $
23,519 

Loans collectively evaluated for impairment

 
38,641 

 
170,785 

 
12,083 

 
39,525 

 
387 

 
159 

 
9 

 
261,589 

Total ending loans balance

 

  $
40,055 

 

 $
173,550 

 

 $
16,719 

 

 $
54,127 

 

 $
387 

 

 $
261 

 

 $
9 

 

 $
285,108 

 

Loans individually evaluated for impairment by loan type

 

 

 

March 31, 2015

 

December 31, 2014

 

 

 

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:

 

 

 

 

 

 

 

 

 

 

 

 

 

Single family

 

$
1,442 

 

$
703 

 

$

-

 

$
1,448 

 

$
736 

 

$

-

 

Multi-family

 
1,769 

 
1,580 

 

-

 
1,384 

 
1,263 

 

-

 

Commercial real estate

 
4,827 

 
1,123 

 

-

 
4,836 

 
1,174 

 

-

 

Church

 
5,956 

 
4,076 

 

-

 
6,234 

 
4,350 

 

-

 

Commercial - other

 
21 

 
21 

 

-

 
34 

 
34 

 

-

 

With an allowance recorded:

 

 

 

 

 

 

 

 

 

 

 

 

 

Single family

 
674 

 
674 

 
140 

 
678 

 
678 

 
132 

 

Multi-family

 
1,140 

 
1,140 

 
85 

 
1,541 

 
1,502 

 
115 

 

Commercial real estate

 
2,048 

 
2,038 

 
112 

 
3,473 

 
3,462 

 
161 

 

Church

 
9,842 

 
9,461 

 
1,198 

 
10,751 

 
10,252 

 
1,088 

 

Commercial -other

 
68 

 
68 

 
9 

 
68 

 
68 

 
10 

 

Total

 

$
27,787 

 

$
20,884 

 

$
1,544 

 

$
30,447 

 

$
23,519 

 

$
1,506 

 

 

Average of loans individually evaluated for impairment by loan type and related interest income

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended March 31, 2015

 

Three Months Ended March 31, 2014

 

 

Average
Recorded
Investment

 

Cash Basis
Interest
Income
Recognized

 

Average
Recorded
Investment

 

Cash Basis
Interest
Income
Recognized

 

 

(In thousands)

Single family

 

 

$
1,382 

 

 

 

$
7 

 

 

 

$
3,000 

 

 

 

$
17 

 

Multi-family

 

 
2,740 

 

 

 
16 

 

 

 
3,861 

 

 

 
23 

 

Commercial real estate

 

 
4,264 

 

 

 
106 

 

 

 
4,881 

 

 

 
93 

 

Church

 

 
14,603 

 

 

 
142 

 

 

 
19,719 

 

 

 
141 

 

Commercial -other

 

 
95 

 

 

 
2 

 

 

 
144 

 

 

 
3 

 

Total

 

 

$
23,084 

 

 

 

$
273 

 

 

 

$
31,605 

 

 

 

$
277 

 

 

Aging of recorded investment in past due loans by loan type

 

 

 

March 31, 2015

 

 

30-59
Days
Past Due

 

60-89
Days
Past Due

 

Greater than
90 Days
Past Due

 

Total
Past Due

 

Current

 

 

(In thousands)

Loans receivable held for investment:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Single family

 

 

$

-

 

 

 

$

-

 

 

 

$

-

 

 

 

$

-

 

 

 

$
35,866 

 

Multi-family

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 
180,430 

 

Commercial real estate

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 
13,718 

 

Church

 

 

-

 

 

 

-

 

 

 
258 

 

 

 
258 

 

 

 
49,287 

 

Construction

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 
376 

 

Commercial - other

 

 
21 

 

 

 

-

 

 

 

-

 

 

 
21 

 

 

 
218 

 

Consumer

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 
11 

 

Total

 

 

$
21 

 

 

 

$

-

 

 

 

$
258 

 

 

 

$
279 

 

 

 

$
279,906 

 

 

 

 

December 31, 2014

 

 

30-59
Days
Past Due

 

60-89
Days
Past Due

 

Greater than
90 Days
Past Due

 

Total
Past Due

 

Current

 

 

(In thousands)

Loans receivable held for investment:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Single family

 

 

$

-

 

 

 

$

-

 

 

 

$

-

 

 

 

$

-

 

 

 

$
40,055 

 

Multi-family

 

 
455 

 

 

 

-

 

 

 

-

 

 

 
455 

 

 

 
173,095 

 

Commercial real estate

 

 
856 

 

 

 

-

 

 

 

-

 

 

 
856 

 

 

 
15,863 

 

Church

 

 

-

 

 

 
180 

 

 

 
987 

 

 

 
1,167 

 

 

 
52,960 

 

Construction

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 
387 

 

Commercial - other

 

 
34 

 

 

 

-

 

 

 

-

 

 

 
34 

 

 

 
227 

 

Consumer

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 
9 

 

Total

 

 

$
1,345 

 

 

 

$
180 

 

 

 

$
987 

 

 

 

$
2,512 

 

 

 

$
282,596 

 

 

Recorded investment in nonaccrual loans by loan type

 

 

 

March 31, 2015

 

December 31, 2014

 

 

(In thousands)

Loans receivable held for investment:

 

 

 

 

 

 

 

 

 

 

Single family

 

 

$
703 

 

 

 

$
736 

 

Multi-family

 

 
1,580 

 

 

 
1,618 

 

Commercial real estate

 

 
1,123 

 

 

 
1,174 

 

Church

 

 
4,217 

 

 

 
5,232 

 

Commercial - other

 

 
89 

 

 

 
102 

 

Total non-accrual loans

 

 

$
7,712 

 

 

 

$
8,862 

 

 

Risk category of loans by loan type

 

 

 

March 31, 2015

 

 

 

Pass

 

Watch

 

Special Mention

 

Substandard

 

Doubtful

 

Loss

 

 

 

(In thousands)

 

Single family

 

  $
31,711 

 

  $

 -

 

  $
3,448 

 

  $
707 

 

  $

 -

 

  $

 -

 

Multi-family

 
177,266 

 

-

 
969 

 
2,195 

 

-

 

-

 

Commercial real estate

 
10,274 

 

-

 
283 

 
3,161 

 

-

 

-

 

Church

 
38,138 

 
786 

 
1,449 

 
9,172 

 

-

 

-

 

Construction

 
376 

 

-

 

-

 

-

 

-

 

-

 

Commercial - other

 
150 

 

-

 

-

 
89 

 

-

 

-

 

Consumer

 
11 

 

-

 

-

 

-

 

-

 

-

 

Total

 

  $
257,926 

 

  $
786 

 

  $
6,149 

 

  $
15,324 

 

  $

 -

 

  $

 -

 

 

 

 

 

 

 

December 31, 2014

 

 

 

Pass

 

Watch

 

Special Mention

 

Substandard

 

Doubtful

 

Loss

 

 

 

(In thousands)

 

Single family

 

  $
35,850 

 

  $

 -

 

  $
3,465 

 

  $
740 

 

  $

 -

 

  $

 -

 

Multi-family

 
170,700 

 

-

 
613 

 
2,237 

 

-

 

-

 

Commercial real estate

 
13,218 

 

-

 
284 

 
3,217 

 

-

 

-

 

Church

 
41,716 

 

-

 
2,202 

 
10,209 

 

-

 

-

 

Construction

 
387 

 

-

 

-

 

-

 

-

 

-

 

Commercial - other

 
159 

 

-

 

-

 
102 

 

-

 

-

 

Consumer

 
9 

 

-

 

-

 

-

 

-

 

-

 

Total

 

  $
262,039 

 

  $

 -

 

  $
6,564 

 

  $
16,505 

 

  $

 -

 

  $

 -