Loans Receivable Held for Investment (Tables)

9 Months Ended

Sep. 30, 2019

Loans Receivable Held for Investment

Schedule of loans receivable held for investment

	September 30, 2019		December 31, 2018
	(In thousands)
Real estate:
Single family	$	78,100	$	91,835
Multi-family		246,782		231,870
Commercial real estate		6,390		5,802
Church		22,376		25,934
Construction		2,757		1,876
Commercial – other		271		226
Consumer		5		5
Gross loans receivable before deferred loan costs and premiums		356,681		357,548
Unamortized net deferred loan costs and premiums		937		937
Gross loans receivable		357,618		358,485
Allowance for loan losses		(2,818)		(2,929)
Loans receivable, net	$	354,800	$	355,556

Schedule of activity in the allowance for loan losses by loan type

	Three Months Ended September 30, 2019
	Real Estate
	Single		Multi-		Commercial						Commercial
	family		family		real estate		Church		Construction		- other		Consumer		Total
	(In thousands)
Beginning balance	$	328	$	1,932	$	58	$	401	$	44	$	5	$	3	$	2,771
Provision for (recapture of) loan losses		—		66		—		(24)		6		—		(1)		47
Recoveries		—		—		—		—		—		—		—		—
Loans charged off		—		—		—		—		—		—		—		—
Ending balance	$	328	$	1,998	$	58	$	377	$	50	$	5	$	2	$	2,818

	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

	Nine Months Ended September 30, 2019
	Real Estate
	Single		Multi-		Commercial						Commercial
	family		family		real estate		Church		Construction		- other		Consumer		Total
	(In thousands)
Beginning balance	$	369	$	1,880	$	52	$	603	$	19	$	6	$	—	$	2,929
Provision for (recapture of) loan losses		(41)		118		6		(416)		31		(1)		2		(301)
Recoveries		—		—		—		190		—		—		—		190
Loans charged off		—		—		—		—		—		—		—		—
Ending balance	$	328	$	1,998	$	58	$	377	$	50	$	5	$	2	$	2,818

	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

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

	September 30, 2019
	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	$	59	$	—	$	—	$	87	$	—	$	3	$	—	$	149
Collectively evaluated for impairment		269		1,998		58		290		50		2		2		2,669
Total ending allowance balance	$	328	$	1,998	$	58	$	377	$	50	$	5	$	2	$	2,818
Loans:
Loans individually evaluated for impairment	$	619	$	316	$	—	$	4,655	$	—	$	63	$	—	$	5,653
Loans collectively evaluated for impairment		77,740		247,811		6,397		17,050		2,754		208		5		351,965
Total ending loans balance	$	78,359	$	248,127	$	6,397	$	21,705	$	2,754	$	271	$	5	$	357,618

	December 31, 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	$	53	$	—	$	—	$	170	$	—	$	4	$	—	$	227
Collectively evaluated for impairment		316		1,880		52		433		19		2		—		2,702
Total ending allowance balance	$	369	$	1,880	$	52	$	603	$	19	$	6	$	—	$	2,929
Loans:
Loans individually evaluated for impairment	$	610	$	323	$	—	$	5,383	$	—	$	64	$	—	$	6,380
Loans collectively evaluated for impairment		91,567		232,986		5,800		19,713		1,872		162		5		352,105
Total ending loans balance	$	92,177	$	233,309	$	5,800	$	25,096	$	1,872	$	226	$	5	$	358,485

Schedule of loans individually evaluated for impairment by loan type

	September 30, 2019						December 31, 2018
					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:
Single family	$	23	$	22	$	—	$	—	$	—	$	—
Multi-family	$	316	$	316	$	—	$	323	$	323	$	—
Church	$	4,055	$	2,701	$	—	$	4,666	$	2,803	$	—
With an allowance recorded:
Single family		597		597		59		610		610		53
Church		1,954		1,954		87		2,580		2,580		170
Commercial - other		63		63		3		64		64		4
Total	$	7,008	$	5,653	$	149	$	8,243	$	6,380	$	227

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

	Three Months Ended September 30, 2019				Three Months Ended September 30, 2018
			Cash Basis				Cash Basis
	Average		Interest		Average		Interest
	Recorded		Income		Recorded		Income
	Investment		Recognized		Investment		Recognized
	(In thousands)
Single family	$	625	$	7	$	616	$	8
Multi-family		317		6		327		5
Church		4,678		76		7,486		119
Commercial – other		63		1		64		1
Total	$	5,683	$	90	$	8,493	$	133

	Nine Months Ended September 30, 2019				Nine Months Ended September 30, 2018
			Cash Basis				Cash Basis
	Average		Interest		Average		Interest
	Recorded		Income		Recorded		Income
	Investment		Recognized		Investment		Recognized
	(In thousands)
Single family	$	631	$	22	$	620	$	23
Multi-family		320		17		330		17
Church		5,206		594		7,746		404
Commercial – other		63		3		64		3
Total	$	6,220	$	636	$	8,760	$	447

Schedule of aging of the recorded investment in past due loans by loan type

	September 30, 2019
					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	$	—	$	—	$	—	$	—	$	78,359	$	78,359
Multi-family		—		—		—		—		248,127		248,127
Commercial real estate		—		—		—		—		6,397		6,397
Church		—		250		—		250		21,455		21,705
Construction		—		—		—		—		2,754		2,754
Commercial - other		—		—		—		—		271		271
Consumer		—		—		—		—		5		5
Total	$	—	$	250	$	—	$	250	$	357,368	$	357,618

	December 31, 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	$	35	$	—	$	—	$	35	$	92,142	$	92,177
Multi-family		—		—		—		—		233,309		233,309
Commercial real estate		—		—		—		—		5,800		5,800
Church		—		—		—		—		25,096		25,096
Construction		—		—		—		—		1,872		1,872
Commercial - other		—		—		—		—		226		226
Consumer		—		—		—		—		5		5
Total	$	35	$	—	$	—	$	35	$	358,450	$	358,485

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

	September 30, 2019		December 31, 2018
	(In thousands)
Loans receivable held for investment:
Single-family residence	$	22	$	—
Church	$	677	$	911
Total non-accrual loans	$	699	$	911

Schedule of risk categories of loans by loan type

	September 30, 2019
	Pass		Watch		Special Mention		Substandard		Doubtful		Loss
	(In thousands)
Single family	$	78,337	$	—	$	—	$	22	$	—	$	—
Multi-family		247,480		—		—		647		—		—
Commercial real estate		6,397		—		—		—		—		—
Church		17,307		418		—		3,980		—		—
Construction		2,754		—		—		—		—		—
Commercial - other		208		—		—		63		—		—
Consumer		5		—		—		—		—		—
Total	$	352,488	$	418	$	—	$	4,712	$	—	$	—

	December 31, 2018
	Pass		Watch		Special Mention		Substandard		Doubtful		Loss
	(In thousands)
Single family	$	92,132	$	—	$	35	$	10	$	—	$	—
Multi-family		232,642		—		—		667		—		—
Commercial real estate		5,800		—		—		—		—		—
Church		19,678		672		—		4,746		—		—
Construction		1,872		—		—		—		—		—
Commercial - other		162		—		—		64		—		—
Consumer		5		—		—		—		—		—
Total	$	352,291	$	672	$	35	$	5,487	$	—	$	—