Loans Receivable Held for Investment (Tables)

3 Months Ended

Mar. 31, 2016

Loans Receivable Held for Investment

	March 31, 2016		December 31, 2015
	(In thousands)
Real estate:
Single family (1)	$	124,025	$	130,891
Multi-family	142,773		118,616
Commercial real estate	11,073		11,442
Church	44,710		46,390
Construction	332		343
Commercial – other	289		270
Consumer	6		4

Gross loans receivable before deferred loan costs and premiums	323,208		307,956
Unamortized net deferred loan costs and premiums	1,207		1,043

Gross loans receivable	324,415		308,999
Allowance for loan losses	(4,534)		(4,828)

Loans receivable, net	$	319,881	$	304,171

______

(1)Includes $94.4 million and $99.5 million of non-impaired purchased loans at March 31, 2016 and December 31, 2015, respectively, which are accounted for under ASC 310-20.

Activity in the allowance for loan losses by loan type

	Three Months Ended March 31, 2016
	Real Estate

	Single family				Multi- family			Commercial real estate				Church				Construction				Commercial - other				Consumer				Total
	(In thousands)
Beginning balance	$	597			$	1,658		$	469			$	2,083			$	3			$	18			$	-			$	4,828
Provision for (recapture of) loan losses	(69			)	208			(25			)	(413			)	-				(1			)	-				(300			)
Recoveries	-				-			-				6				-				-				-				6
Loans charged off	-				-			-				-				-				-				-				-

Ending balance	$	528			$	1,866		$	444			$	1,676			$	3			$	17			$	-			$	4,534

	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

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

	March 31, 2016
	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	$	131	$	2	$	91	$	570	$	-	$	15	$	-	$	809
Collectively evaluated for impairment	397		1,864		353		1,106		3		2		-		3,725

Total ending allowance balance	$	528	$	1,866	$	444	$	1,676	$	3	$	17	$	-	$	4,534

Loans:
Loans individually evaluated for impairment	$	939	$	972	$	1,939	$	10,995	$	-	$	67	$	-	$	14,912
Loans collectively evaluated for impairment	123,726		142,995		9,141		33,081		332		222		6		309,503

Total ending loans balance	$	124,665	$	143,967	$	11,080	$	44,076	$	332	$	289	$	6	$	324,415

	December 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	$	134	$	1	$	88	$	756	$	-	$	16	$	-	$	995
Collectively evaluated for impairment	463		1,657		381		1,327		3		2		-		3,833

Total ending allowance balance	$	597	$	1,658	$	469	$	2,083	$	3	$	18	$	-	$	4,828

Loans:
Loans individually evaluated for impairment	$	963	$	1,440	$	1,924	$	11,390	$	-	$	67	$	-	$	15,784
Loans collectively evaluated for impairment	130,632		118,186		9,488		34,359		343		203		4		293,215

Total ending loans balance	$	131,595	$	119,626	$	11,412	$	45,749	$	343	$	270	$	4	$	308,999

Loans individually evaluated for impairment by loan type

	March 31, 2016						December 31, 2015
	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	$	873	$	282	$	-	$	877	$	302	$	-
Multi-family	385		315		-		912		779		-
Commercial real estate	635		240		-		636		259		-
Church	6,046		3,917		-		5,615		3,542		-
With an allowance recorded:
Single family	657		657		131		662		661		134
Multi-family	657		657		2		661		661		1
Commercial real estate	1,699		1,699		91		1,702		1,665		88
Church	7,470		7,078		570		8,245		7,848		756
Commercial -other	67		67		15		67		67		16

Total	$	18,489	$	14,912	$	809	$	19,377	$	15,784	$	995

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

	Three Months Ended March 31, 2016						Three Months Ended March 31, 2015
	Average Recorded Investment			Cash Basis Interest Income Recognized			Average Recorded Investment			Cash Basis Interest Income Recognized
	(In thousands)
Single family		$	951		$	7		$	1,382		$	7
Multi-family		1,206			41			2,740			16
Commercial real estate		1,933			56			4,264			106
Church		11,191			126			14,603			142
Commercial -other		67			-			95			2

Total		$	15,348		$	230		$	23,084		$	273

Aging of recorded investment in past due loans by loan type

	March 31, 2016
	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		$	73		$	5		$	-		$	78		$	124,587
Multi-family		-			-			-			-			143,967
Commercial real estate		-			-			-			-			11,080
Church		578			-			463			1,041			43,035
Construction		-			-			-			-			332
Commercial - other		-			-			-			-			289
Consumer		-			-			-			-			6

Total		$	651		$	5		$	463		$	1,119		$	323,296

	December 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		$	103		$	-		$	-		$	103		$	131,492
Multi-family		291			-			-			291			119,335
Commercial real estate		-			-			-			-			11,412
Church		595			-			456			1,051			44,698
Construction		-			-			-			-			343
Commercial - other		-			-			-			-			270
Consumer		-			-			-			-			4

Total		$	989		$	-		$	456		$	1,445		$	307,554

Recorded investment in nonaccrual loans by loan type

	March 31, 2016			December 31, 2015
	(In thousands)
Loans receivable held for investment:
Single family		$	282		$	302
Multi-family		315			779
Commercial real estate		240			259
Church		3,265			2,887

Total non-accrual loans		$	4,102		$	4,227

Risk category of loans by loan type

	March 31, 2016
	Pass		Watch		Special Mention		Substandard		Doubtful		Loss
	(In thousands)
Single family	$	122,163	$	-	$	2,220	$	282	$	-	$	-
Multi-family	141,922		493		350		1,202		-		-
Commercial real estate	7,170		-		-		3,910		-		-
Church	34,425		725		836		8,090		-		-
Construction	332		-		-		-		-		-
Commercial - other	222		-		-		67		-		-
Consumer	6		-		-		-		-		-

Total	$	306,240	$	1,218	$	3,406	$	13,551	$	-	$	-


	December 31, 2015

	Pass		Watch		Special Mention		Substandard		Doubtful		Loss

	(In thousands)
Single family	$	128,736	$	-	$	2,557	$	302	$	-	$	-
Multi-family	117,602		-		352		1,672		-		-
Commercial real estate	7,509		-		-		3,903		-		-
Church	35,013		776		1,431		8,529		-		-
Construction	343		-		-		-		-		-
Commercial - other	203		-		-		67		-		-
Consumer	4		-		-		-		-		-

Total	$	289,410	$	776	$	4,340	$	14,473	$	-	$	-