Loans Receivable Held for Investment (Tables)

6 Months Ended

Jun. 30, 2017

Loans Receivable Held for Investment

	June 30, 2017		December 31, 2016
	(In thousands)
Real estate:
Single family (1)	$	95,828	$	104,807
Multi-family	214,652		229,566
Commercial real estate	6,404		8,914
Church	34,449		37,826
Construction	950		837
Commercial – other	344		308
Consumer	4		6

Gross loans receivable before deferred loan costs and premiums	352,631		382,264
Unamortized net deferred loan costs and premiums	1,923		1,793

Gross loans receivable	354,554		384,057
Allowance for loan losses	(4,246)		(4,603)

Loans receivable, net	$	350,308	$	379,454

(1)

Includes $77.0 million and $81.9 million of non-impaired purchased loans at June 30, 2017 and December 31, 2016, respectively, with no allowance for loan losses.

Activity in the allowance for loan losses by loan type

	Three Months Ended June 30, 2017
	Real Estate
	Single family		Multi- family		Commercial real estate		Church		Construction		Commercial - other		Consumer		Total
	(In thousands)
Beginning balance	$	330	$	2,711	$	75	$	1,250	$	9	$	16	$	1	$	4,392
Provision for (recapture of) loan losses	(40)		8		2		(270)		-		1		(1)		(300)
Recoveries	30		-		-		124		-		-		-		154
Loans charged off	-		-		-		-		-		-		-		-

Ending balance	$	320	$	2,719	$	77	$	1,104	$	9	$	17	$	-	$	4,246

	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, 2017
	Real Estate
	Single family		Multi- family		Commercial real estate		Church		Construction		Commercial - other		Consumer		Total
	(In thousands)
Beginning balance	$	367	$	2,659	$	215	$	1,337	$	8	$	17	$	-	$	4,603
Provision for (recapture of) loan losses	(77)		60		(138)		(496)		1		-		-		(650)
Recoveries	30		-		-		263		-		-		-		293
Loans charged off	-		-		-		-		-		-		-		-

Ending balance	$	320	$	2,719	$	77	$	1,104	$	9	$	17	$	-	$	4,246

	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

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

	June 30, 2017
	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	$	117	$	-	$	-	$	452	$	-	$	14	$	-	$	583
Collectively evaluated for impairment	203		2,719		77		652		9		3		-		3,663


Total ending allowance balance	$	320	$	2,719	$	77	$	1,104	$	9	$	17	$	-	$	4,246


Loans:
Loans individually evaluated for impairment	$	636	$	632	$	-	$	9,399	$	-	$	65	$	-	$	10,732
Loans collectively evaluated for impairment	95,682		215,788		6,410		24,712		947		279		4		343,822


Total ending loans balance	$	96,318	$	216,420	$	6,410	$	34,111	$	947	$	344	$	4	$	354,554

	December 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	$	125	$	-	$	-	$	516	$	-	$	15	$	-	$	656
Collectively evaluated for impairment	242		2,659		215		821		8		2		-		3,947

Total ending allowance balance	$	367	$	2,659	$	215	$	1,337	$	8	$	17	$	-	$	4,603

Loans:
Loans individually evaluated for impairment	$	644	$	642	$	-	$	10,545	$	-	$	66	$	-	$	11,897
Loans collectively evaluated for impairment	104,688		230,798		8,921		26,678		827		242		6		372,160

Total ending loans balance	$	105,332	$	231,440	$	8,921	$	37,223	$	827	$	308	$	6	$	384,057

Loans individually evaluated for impairment by loan type

	June 30, 2017						December 31, 2016
	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:
Multi-family	$	632	$	632	$	-	$	642	$	642	$	-
Church	6,068		3,819		-		5,946		3,589		-
With an allowance recorded:
Single family	636		636		117		644		644		125
Church	5,739		5,580		452		7,330		6,956		516
Commercial - other	65		65		14		66		66		15

Total	$	13,140	$	10,732	$	583	$	14,628	$	11,897	$	656

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

	Three Months Ended June 30, 2017						Six Months Ended June 30, 2017
	Average Recorded Investment			Cash Basis Interest Income Recognized			Average Recorded Investment			Cash Basis Interest Income Recognized
	(In thousands)
Single family		$	638		$	7		$	640		$	14
Multi-family		635			12			638			23
Commercial real estate		992			104			567			104
Church		9,625			109			9,998			336
Commercial – other		66			1			66			2

Total		$	11,956		$	233		$	11,909		$	479

	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

Aging of the recorded investment in past due loans by loan type

	June 30, 2017
	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		$	-		$	57		$	-		$	57		$	96,261
Multi-family		-			-			-			-			216,420
Commercial real estate		-			-			-			-			6,410
Church		371			-			1,242			1,613			32,498
Construction		-			-			-			-			947
Commercial - other		-			-			-			-			344
Consumer		-			-			-			-			4

Total		$	371		$	57		$	1,242		$	1,670		$	352,884

	December 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		$	-		$	64		$	-		$	64		$	105,268
Multi-family		-			-			-			-			231,440
Commercial real estate		1,324			-			-			1,324			7,597
Church		-			-			-			-			37,223
Construction		-			-			-			-			827
Commercial - other		-			-			-			-			308
Consumer		-			-			-			-			6

Total		$	1,324		$	64		$	-		$	1,388		$	382,669

Risk categories of loans by loan type

	June 30, 2017
	Pass		Watch		Special Mention		Substandard		Doubtful		Loss
	(In thousands)
Single family	$	96,318	$	-	$	-	$	-	$	-	$	-
Multi-family	215,138		-		-		1,282		-		-
Commercial real estate	6,287		123		-		-		-		-
Church	26,998		446		269		6,398		-		-
Construction	947		-		-		-		-		-
Commercial - other	279		-		-		65		-		-
Consumer	4		-		-		-		-		-

Total	$	345,971	$	569	$	269	$	7,745	$	-	$	-


	December 31, 2016

	Pass		Watch		Special Mention		Substandard		Doubtful		Loss

	(In thousands)
Single family	$	105,332	$	-	$	-	$	-	$	-	$	-
Multi-family	228,522		1,274		342		1,302		-		-
Commercial real estate	6,965		-		-		1,956		-		-
Church	27,560		1,143		823		7,697		-		-
Construction	827		-		-		-		-		-
Commercial - other	242		-		-		66		-		-
Consumer	6		-		-		-		-		-


Total	$	369,454	$	2,417	$	1,165	$	11,021	$	-	$	-