Loans Receivable Held for Investment (Tables)

3 Months Ended

Mar. 31, 2020

Loans Receivable Held for Investment

Schedule of loans receivable held for investment

	March 31, 2020		December 31, 2019
	(In thousands)
Real estate:
Single family	$	64,094	$	72,883
Multi-family		283,629		287,378
Commercial real estate		14,653		14,728
Church		19,907		21,301
Construction		717		3,128
Commercial – other		268		262
Consumer		24		21
Gross loans receivable before deferred loan costs and premiums		383,292		399,701
Unamortized net deferred loan costs and premiums		1,253		1,328
Gross loans receivable		384,545		401,029
Allowance for loan losses		(3,211)		(3,182)
Loans receivable, net	$	381,334	$	397,847

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

	Three Months Ended March 31, 2020
	Real Estate
	Single		Multi-		Commercial						Commercial
	family		family		real estate		Church		Construction		- other		Consumer		Total
	(In thousands)
Beginning balance	$	312	$	2,319	$	133	$	362	$	48	$	7	$	1	$	3,182
Provision for (recapture of) loan losses		(4)		89		7		(39)		(24)		—		—		29
Recoveries		—		—		—		—		—		—		—		—
Loans charged off		—		—		—		—		—		—		—		—
Ending balance	$	308	$	2,408	$	140	$	323	$	24	$	7	$	1	$	3,211

	Three Months Ended March 31, 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		(22)		110		10		(286)		(1)		(1)		—		(190)
Recoveries		—		—		—		190		—		—		—		190
Loans charged off		—		—		—		—		—		—		—		—
Ending balance	$	347	$	1,990	$	62	$	507	$	18	$	5	$	—	$	2,929

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

	March 31, 2020
	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	$	73	$	—	$	—	$	74	$	—	$	2	$	—	$	149
Collectively evaluated for impairment		235		2,408		140		249		24		5		1		3,062
Total ending allowance balance	$	308	$	2,408	$	140	$	323	$	24	$	7	$	1	$	3,211
Loans:
Loans individually evaluated for impairment	$	602	$	310	$	—	$	4,178	$	—	$	62	$	—	$	5,152
Loans collectively evaluated for impairment		63,684		284,929		14,742		15,091		717		206		24		379,393
Total ending loans balance	$	64,286	$	285,239	$	14,742	$	19,269	$	717	$	268	$	24	$	384,545

	December 31, 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	$	60	$	—	$	—	$	85	$	—	$	2	$	—	$	147
Collectively evaluated for impairment		252		2,319		133		277		48		5		1		3,035
Total ending allowance balance	$	312	$	2,319	$	133	$	362	$	48	$	7	$	1	$	3,182
Loans:
Loans individually evaluated for impairment	$	611	$	313	$	—	$	4,356	$	—	$	63	$	—	$	5,343
Loans collectively evaluated for impairment		72,501		288,730		14,818		16,292		3,125		199		21		395,686
Total ending loans balance	$	73,112	$	289,043	$	14,818	$	20,648	$	3,125	$	262	$	21	$	401,029

Schedule of loans individually evaluated for impairment by loan type

	March 31, 2020						December 31, 2019
					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	$	14	$	14	$	—	$	—	$	—	$	—
Multi-family		310		310		—		313		313		—
Church		2,913		2,283		—		3,491		2,446		—
With an allowance recorded:
Single family		588		588		73		593		593		60
Church		1,895		1,895		74		1,928		1,928		85
Commercial - other		62		62		2		63		63		2
Total	$	5,782	$	5,152	$	149	$	6,388	$	5,343	$	147

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

	Three Months Ended March 31, 2020				Three Months Ended March 31, 2019
			Cash Basis				Cash Basis
	Average		Interest		Average		Interest
	Recorded		Income		Recorded		Income
	Investment		Recognized		Investment		Recognized
	(In thousands)
Single family	$	608	$	7	$	608	$	8
Multi-family		311		5		322		6
Church		4,296		236		5,001		430
Commercial – other		62		1		64		1
Total	$	5,277	$	249	$	5,995	$	445

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

	March 31, 2020
					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	$	14	$	—	$	—	$	14	$	64,272	$	64,286
Multi-family		—		—		—		—		285,239		285,239
Commercial real estate		—		—		—		—		14,742		14,742
Church		—		—		—		—		19,269		19,269
Construction		—		—		—		—		717		717
Commercial - other		—		—		—		—		268		268
Consumer		—		—		—		—		24		24
Total	$	14	$	—	$	—	$	14	$	384,531	$	384,545

	December 31, 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	$	18	$	—	$	—	$	18	$	73,094	$	73,112
Multi-family		—		—		—		—		289,043		289,043
Commercial real estate		—		—		—		—		14,818		14,818
Church		—		—		—		—		20,648		20,648
Construction		—		—		—		—		3,125		3,125
Commercial - other		—		—		—		—		262		262
Consumer		—		—		—		—		21		21
Total	$	18	$	—	$	—	$	18	$	401,011	$	401,029

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

	March 31, 2020		December 31, 2019
	(In thousands)
Loans receivable held for investment:
Single-family residence	$	14	$	18
Church		266		406
Total non-accrual loans	$	280	$	424

Schedule of risk categories of loans by loan type

	March 31, 2020
	Pass		Watch		Special Mention		Substandard		Doubtful		Loss
	(In thousands)
Single family	$	64,272	$	—	$	—	$	14	$	—	$	—
Multi-family		284,456		406		—		377		—		—
Commercial real estate		14,742		—		—		—		—		—
Church		15,330		1,080		—		2,859		—		—
Construction		717		—		—		—		—		—
Commercial - other		206		—		—		62		—		—
Consumer		24		—		—		—		—		—
Total	$	379,747	$	1,486	$	—	$	3,312	$	—	$	—

	December 31, 2019
	Pass		Watch		Special Mention		Substandard		Doubtful		Loss
	(In thousands)
Single family	$	73,094	$	—	$	—	$	18	$	—	$	—
Multi-family		288,251		411		—		381		—		—
Commercial real estate		14,818		—		—		—		—		—
Church		16,546		411		—		3,691		—		—
Construction		3,125		—		—		—		—		—
Commercial - other		199		—		—		63		—		—
Consumer		21		—		—		—		—		—
Total	$	396,054	$	822	$	—	$	4,153	$	—	$	—