Loans Receivable Held for Investment (Tables)

6 Months Ended

Jun. 30, 2016

Loans Receivable Held for Investment

	June 30, 2016		December 31, 2015
	(In thousands)
Real estate:
Single family (1)	$	115,388	$	130,891
Multi-family	173,438		118,616
Commercial real estate	10,733		11,442
Church	44,175		46,390
Construction	320		343
Commercial – other	304		270
Consumer	15		4

Gross loans receivable before deferred loan costs and premiums	344,373		307,956
Unamortized net deferred loan costs and premiums	1,436		1,043

Gross loans receivable	345,809		308,999
Allowance for loan losses	(4,545)		(4,828)

Loans receivable, net	$	341,264	$	304,171

______

(1)Includes $89.0 million and $99.5 million of non-impaired purchased loans at June 30, 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 June 30, 2016
	Real Estate
	Single family			Multi- family		Commercial real estate			Church			Construction		Commercial - other			Consumer		Total
	(In thousands)
Beginning balance	$	528		$	1,866	$	444		$	1,676		$	3	$	17		$	-	$	4,534
Provision for (recapture of) loan losses	(87		)	381		(452		)	(86		)	-		(7		)	1		(250		)
Recoveries	-			-		248			6			-		7			-		261
Loans charged off	-			-		-			-			-		-			-		-

Ending balance	$	441		$	2,247	$	240		$	1,596		$	3	$	17		$	1	$	4,545


	Six Months Ended June 30, 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	(156		)	589		(477		)	(499		)	-		(8		)	1		(550		)
Recoveries	-			-		248			12			-		7			-		267
Loans charged off	-			-		-			-			-		-			-		-
Ending balance	$	441		$	2,247	$	240		$	1,596		$	3	$	17		$	1	$	4,545


	Three Months Ended June 30, 2015
	Real Estate
	Single family			Multi- family			Commercial real estate			Church		Construction		Commercial - other		Consumer			Total
	(In thousands)
Beginning balance	$	1,164		$	2,741		$	436		$	3,314	$	4	$	11	$	1		$	7,671
Provision for (recapture of) loan losses	(11		)	(896		)	(32		)	189		-		1		(1		)	(750		)
Recoveries	-			-			-			5		-		-		-			5
Loans charged off	(3		)	-			-			-		-		-		-			(3		)

Ending balance	$	1,150		$	1,845		$	404		$	3,508	$	4	$	12	$	-		$	6,923


	Six Months Ended June 30, 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	(21		)	(881		)	(92		)	(500		)	(3		)	-		(3		)	(1,500		)
Recoveries	-			-			-			11			-			-		-			11
Loans charged off	(3		)	-			-			(50		)	-			-		-			(53		)

Ending balance	$	1,150		$	1,845		$	404		$	3,508		$	4		$	12	$	-		$	6,923

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


	June 30, 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	$	129	$	-	$	-	$	555	$	-	$	15	$	-	$	699
Collectively evaluated for impairment	312		2,247		240		1,041		3		2		1		3,846

Total ending allowance balance	$	441	$	2,247	$	240	$	1,596	$	3	$	17	$	1	$	4,545

Loans:
Loans individually evaluated for impairment	$	915	$	961	$	1,697	$	10,838	$	-	$	66	$	-	$	14,477
Loans collectively evaluated for impairment	115,075		173,926		9,043		32,715		320		238		15		331,332

Total ending loans balance	$	115,990	$	174,887	$	10,740	$	43,553	$	320	$	304	$	15	$	345,809


	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

	June 30, 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	$	870	$	262	$	-	$	877	$	302	$	-
Multi-family	1,036		961		-		912		779		-
Commercial real estate	1,697		1,697		-		636		259		-
Church	6,011		3,797		-		5,615		3,542		-
With an allowance recorded:
Single family	653		653		129		662		661		134
Multi-family	-		-		-		661		661		1
Commercial real estate	-		-		-		1,702		1,665		88
Church	7,424		7,041		555		8,245		7,848		756
Commercial -other	66		66		15		67		67		16
Total	$	17,757	$	14,477	$	699	$	19,377	$	15,784	$	995

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

	Three Months Ended June 30, 2016				Six Months Ended June 30, 2016
	Average Recorded Investment		Cash Basis Interest Income Recognized		Average Recorded Investment		Cash Basis Interest Income Recognized
	(In thousands)
Single family	$	927	$	7	$	939	$	14
Multi-family	966		11		1,102		52
Commercial real estate	1,746		211		1,825		267
Church	10,915		121		11,061		247
Commercial -other	66		2		67		2

Total	$	14,620	$	352	$	14,994	$	582


	Three Months Ended June 30, 2015				Six Months Ended June 30, 2015

	Average Recorded Investment		Cash Basis Interest Income Recognized		Average Recorded Investment		Cash Basis Interest Income Recognized

	(In thousands)
Single family	$	1,346	$	8	$	1,364	$	15
Multi-family	1,974		99		2,305		115
Commercial real estate	2,897		55		3,639		161
Church	13,695		144		14,191		286
Commercial -other	82		1		89		3


Total	$	19,994	$	307	$	21,588	$	580

Aging of recorded investment in past due loans by loan type

	June 30, 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	$	69	$	-	$	-	$	69	$	115,921
Multi-family	310		-		-		310		174,577
Commercial real estate	1,697		-		-		1,697		9,043
Church	-		-		-		-		43,553
Construction	-		-		-		-		320
Commercial - other	-		-		-		-		304
Consumer	-		-		-		-		15

Total	$	2,076	$	-	$	-	$	2,076	$	343,733

	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

	June 30, 2016		December 31, 2015
	(In thousands)
Loans receivable held for investment:
Single family	$	261	$	302
Multi-family	310		779
Commercial real estate	-		259
Church	3,147		2,887

Total non-accrual loans	$	3,718	$	4,227

Risk category of loans by loan type

	June 30, 2016
	Pass		Watch		Special Mention		Substandard		Doubtful		Loss
	(In thousands)
Single family	$	115,596	$	-	$	133	$	261	$	-	$	-
Multi-family	170,936		490		347		3,114		-		-
Commercial real estate	7,077		-		-		3,663		-		-
Church	34,051		721		832		7,949		-		-
Construction	320		-		-		-		-		-
Commercial - other	238		-		-		66		-		-
Consumer	15		-		-		-		-		-

Total	$	328,233	$	1,211	$	1,312	$	15,053	$	-	$	-


	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	$	-	$	-