Loans Receivable Held for Investment (Tables)

9 Months Ended

Sep. 30, 2018

Loans Receivable Held for Investment

Schedule of loans receivable held for investment

	September 30, 2018		December 31, 2017
	(In thousands)
Real estate:
Single family	$	96,863	$	111,085
Multi-family		222,982		187,455
Commercial real estate		5,972		6,089
Church		29,138		30,848
Construction		2,050		1,678
Commercial – other		200		192
Consumer		9		7
Gross loans receivable before deferred loan costs and premiums		357,214		337,354
Unamortized net deferred loan costs and premiums		1,241		1,566
Gross loans receivable		358,455		338,920
Allowance for loan losses		(3,183)		(4,069)
Loans receivable, net	$	355,272	$	334,851

Activity in the allowance for loan losses by loan type

	Three Months Ended September 30, 2018
	Real Estate
	Single		Multi-		Commercial						Commercial
	family		family		real estate		Church		Construction		- other		Consumer		Total
	(In thousands)
Beginning balance	$	517	$	2,656	$	61	$	925	$	18	$	6	$	—	$	4,183
Provision for (recapture of) loan losses		(120)		(791)		(6)		(87)		3		(1)		2		(1,000)
Recoveries		—		—		—		—		—		—		—		—
Loans charged off		—		—		—		—		—		—		—		—
Ending balance	$	397	$	1,865	$	55	$	838	$	21	$	5	$	2	$	3,183

	Three Months Ended September 30, 2017
	Real Estate
	Single		Multi-		Commercial						Commercial
	family		family		real estate		Church		Construction		- other		Consumer		Total
	(In thousands)
Beginning balance	$	320	$	2,719	$	77	$	1,104	$	9	$	17	$	—	$	4,246
Provision for (recapture of) loan losses		219		(297)		(4)		(214)		5		(9)		—		(300)
Recoveries		—		—		—		267		—		—		—		267
Loans charged off		—		—		—		—		—		—		—		—
Ending balance	$	539	$	2,422	$	73	$	1,157	$	14	$	8	$	—	$	4,213

	Nine Months Ended September 30, 2018
	Real Estate
	Single		Multi-		Commercial						Commercial
	family		family		real estate		Church		Construction		- other		Consumer		Total
	(In thousands)
Beginning balance	$	594	$	2,300	$	71	$	1,081	$	17	$	6	$	—	$	4,069
Provision for (recapture of) loan losses		(197)		(435)		(16)		(357)		4		(1)		2		(1,000)
Recoveries		—		—		—		114		—		—		—		114
Loans charged off		—		—		—		—		—		—		—		—
Ending balance	$	397	$	1,865	$	55	$	838	$	21	$	5	$	2	$	3,183

	Nine Months Ended September 30, 2017
	Real Estate
	Single		Multi-		Commercial						Commercial
	family		family		real estate		Church		Construction		- other		Consumer		Total
	(In thousands)
Beginning balance	$	367	$	2,659	$	215	$	1,337	$	8	$	17	$	—	$	4,603
Provision for (recapture of) loan losses		142		(237)		(142)		(710)		6		(9)		—		(950)
Recoveries		30		—		—		530		—		—		—		560
Loans charged off		—		—		—		—		—		—		—		—
Ending balance	$	539	$	2,422	$	73	$	1,157	$	14	$	8	$	—	$	4,213

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

	September 30, 2018
	Real Estate
	Single		Multi-		Commercial						Commercial
	family		family		real estate		Church		Construction		- other		Consumer		Total
	(In thousands)
Allowance for loan losses:
Ending allowance balance attributable to loans:
Individually evaluated for impairment	$	55	$	—	$	—	$	365	$	—	$	4	$	—	$	424
Collectively evaluated for impairment		342		1,865		55		473		21		1		2		2,759
Total ending allowance balance	$	397	$	1,865	$	55	$	838	$	21	$	5	$	2	$	3,183
Loans:
Loans individually evaluated for impairment	$	614	$	326	$	—	$	7,421	$	—	$	64	$	—	$	8,425
Loans collectively evaluated for impairment		96,621		224,078		5,972		21,166		2,048		136		9		350,030
Total ending loans balance	$	97,235	$	224,404	$	5,972	$	28,587	$	2,048	$	200	$	9	$	358,455

	December 31, 2017
	Real Estate
	Single		Multi-		Commercial						Commercial
	family		family		real estate		Church		Construction		- other		Consumer		Total
	(In thousands)
Allowance for loan losses:
Ending allowance balance attributable to loans:
Individually evaluated for impairment	$	100	$	1	$	—	$	479	$	—	$	5	$	—	$	585
Collectively evaluated for impairment		494		2,299		71		602		17		1		—		3,484
Total ending allowance balance	$	594	$	2,300	$	71	$	1,081	$	17	$	6	$	—	$	4,069
Loans:
Loans individually evaluated for impairment	$	627	$	333	$	—	$	8,280	$	—	$	65	$	—	$	9,305
Loans collectively evaluated for impairment		110,897		188,585		6,096		22,232		1,671		127		7		329,615
Total ending loans balance	$	111,524	$	188,918	$	6,096	$	30,512	$	1,671	$	192	$	7	$	338,920

Loans individually evaluated for impairment by loan type

	September 30, 2018						December 31, 2017
					Allowance						Allowance
	Unpaid				for Loan		Unpaid				for Loan
	Principal		Recorded		Losses		Principal		Recorded		Losses
	Balance		Investment		Allocated		Balance		Investment		Allocated
	(In thousands)
With no related allowance recorded:
Multi-family	$	326	$	326	$	—	$	—	$	—	$	—
Church		4,697		2,872		—		5,140		3,291		—
With an allowance recorded:
Single family		614		614		55		627		627		100
Multi-family		—		—		—		333		333		1
Church		4,549		4,549		365		5,028		4,989		479
Commercial - other		64		64		4		65		65		5
Total	$	10,250	$	8,425	$	424	$	11,193	$	9,305	$	585

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

	Three Months Ended September 30, 2018				Three Months Ended September 30, 2017
			Cash Basis				Cash Basis
	Average		Interest		Average		Interest
	Recorded		Income		Recorded		Income
	Investment		Recognized		Investment		Recognized
	(In thousands)
Single family	$	616	$	8	$	634	$	7
Multi-family		327		5		631		5
Commercial real estate		—		—		—		—
Church		7,486		119		9,038		256
Commercial – other		64		1		65		2
Total	$	8,493	$	133	$	10,368	$	270

	Nine Months Ended September 30, 2018				Nine Months Ended September 30, 2017
			Cash Basis				Cash Basis
	Average		Interest		Average		Interest
	Recorded		Income		Recorded		Income
	Investment		Recognized		Investment		Recognized
	(In thousands)
Single family	$	620	$	23	$	638	$	21
Multi-family		330		17		636		28
Commercial real estate		—		—		397		104
Church		7,746		404		9,674		592
Commercial – other		64		3		65		4
Total	$	8,760	$	447	$	11,410	$	749

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

	September 30, 2018
					Greater
	30-59		60-89		than
	Days		Days		90 Days		Total
	Past Due		Past Due		Past Due		Past Due		Current		Total
	(In thousands)
Loans receivable held for investment:
Single family	$	39	$	—	$	—	$	39	$	97,196	$	97,235
Multi-family		—		—		—		—		224,404		224,404
Commercial real estate		—		—		—		—		5,972		5,972
Church		—		—		—		—		28,587		28,587
Construction		—		—		—		—		2,048		2,048
Commercial - other		—		—		—		—		200		200
Consumer		—		—		—		—		9		9
Total	$	39	$	—	$	—	$	39	$	358,416	$	358,455

	December 31, 2017
					Greater
	30-59		60-89		than
	Days		Days		90 Days		Total
	Past Due		Past Due		Past Due		Past Due		Current		Total
	(In thousands)
Loans receivable held for investment:
Single family	$	—	$	50	$	—	$	50	$	111,474	$	111,524
Multi-family		—		—		—		—		188,918		188,918
Commercial real estate		—		—		—		—		6,096		6,096
Church		341		—		—		341		30,171		30,512
Construction		—		—		—		—		1,671		1,671
Commercial - other		—		—		—		—		192		192
Consumer		—		—		—		—		7		7
Total	$	341	$	50	$	—	$	391	$	338,529	$	338,920

Schedule of recorded investment in non-accrual loans by loan type

	September 30, 2018		December 31, 2017
	(In thousands)
Loans receivable held for investment:
Church		1,187		1,766
Total non-accrual loans	$	1,187	$	1,766

Risk categories of loans by loan type

	September 30, 2018
	Pass		Watch		Special Mention		Substandard		Doubtful		Loss
	(In thousands)
Single family	$	97,186	$	—	$	39	$	10	$	—	$	—
Multi-family		223,455		—		—		949		—		—
Commercial real estate		5,972		—		—		—		—		—
Church		22,397		1,300		—		4,890		—		—
Construction		2,048		—		—		—		—		—
Commercial - other		136		—		—		64		—		—
Consumer		9		—		—		—		—		—
Total	$	351,203	$	1,300	$	39	$	5,913	$	—	$	—

	December 31, 2017
	Pass		Watch		Special Mention		Substandard		Doubtful		Loss
	(In thousands)
Single family	$	111,513	$	—	$	—	$	11	$	—	$	—
Multi-family		187,946		—		—		972		—		—
Commercial real estate		5,974		122		—		—		—		—
Church		24,474		691		—		5,347		—		—
Construction		1,671		—		—		—		—		—
Commercial - other		127		—		—		65		—		—
Consumer		7		—		—		—		—		—
Total	$	331,712	$	813	$	—	$	6,395	$	—	$	—