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Loans Receivable Held for Sale
9 Months Ended
Sep. 30, 2017
Loans Receivable Held for Sale  
Loans Receivable Held for Sale  
Loans Receivable Held for Sale

 

NOTE (4) – Loans Receivable Held for Sale

 

Loans receivable held for sale at September 30, 2017 totaled $22.5 million and consisted of multi-family loans. As part of the Bank’s loan concentration risk management program, $9.3 million of multi-family loans were transferred from the held-for-investment portfolio to the held-for-sale portfolio during the nine months ended September 30, 2017.  The Bank also allocated $94.7 million, or 96%, of its total loan originations during the period as held-for-sale and completed sales of $81.1 million of multi-family loans during the nine months ended September 30, 2017 for a total gain of $383 thousand.  There were no loans held for sale at December 31, 2016.