Loans Receivable Held for Investment (Tables)

12 Months Ended

Dec. 31, 2020

Loans Receivable Held for Investment [Abstract]

Loans receivable held for investment were as follows as of the periods indicated:

	December 31, 2020			December 31, 2019
	(In thousands)
Real estate:
Single family	$	48,217		$	72,883
Multi‑family		272,387			287,378
Commercial real estate		24,289			14,728
Church		16,658			21,301
Construction		429			3,128
Commercial – other		57			262
Consumer		7			21
Gross loans receivable before deferred loan costs and premiums		362,044			399,701
Unamortized net deferred loan costs and premiums		1,300			1,328
Gross loans receivable		363,344			401,029
Allowance for loan losses		(3,215	)		(3,182	)
Loans receivable, net	$	360,129		$	397,847

Activity in Allowance for Loan Losses by Loan Type

The following tables present the activity in the allowance for loan losses by loan type for the periods indicated:

	For the year ended December 31, 2020
	Real Estate
	Single family			Multi‑ family		Commercial real estate		Church			Construction			Commercial – other			Consumer		Total
	(In thousands)
Beginning balance	$	312		$	2,319	$	133	$	362		$	48		$	7		$	1	$	3,182
Provision for (recapture of) loan losses		(20	)		114		89		(125	)		(26	)		(3	)		-		29
Recoveries		4		‑		‑		‑			‑			‑			‑			4
Loans charged off	‑			‑		‑		‑			‑			‑			‑		‑
Ending balance	$	296		$	2,433	$	222	$	237		$	22		$	4		$	1	$	3,215

	For the year ended December 31, 2019
	Real Estate
	Single family			Multi‑ family		Commercial real estate		Church			Construction		Commercial – other		Consumer		Total
	(In thousands)
Beginning balance	$	369		$	1,880	$	52	$	603		$	19	$	6	$	‑	$	2,929
Recapture of loan losses		(57	)		439		81		(501	)		29		1		1		(7	)
Recoveries	‑			‑		‑			260		‑		‑		‑			260
Loans charged off	‑			‑		‑		‑			‑		‑		‑		‑
Ending balance	$	312		$	2,319	$	133	$	362		$	48	$	7	$	1	$	3,182

Allowance for Loan Losses and Recorded Investment in Loans by Type of Loans and Based on Impairment Method

The following tables present the balance in the allowance for loan losses and the recorded investment (unpaid contractual principal balance less charge‑offs, less interest applied to principal, plus unamortized deferred costs and premiums) by loan type and based on impairment method as of and for the periods indicated:

	December 31, 2020
	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	$	89	$	-	$	‑	$	52	$	‑	$	-	$	‑	$	141
Collectively evaluated for impairment		207		2,433		222		185		22		4		1		3,074
Total ending allowance balance	$	296	$	2,433	$	222	$	237	$	22	$	4	$	1	$	3,215
Loans:
Loans individually evaluated for impairment	$	573	$	298	$	‑	$	3,813	$	‑	$	47	$	-	$	4,731
Loans collectively evaluated for impairment		47,784		273,566		24,322		12,495		430		9		7		358,613
Total ending loans balance	$	48,357	$	273,864	$	24,322	$	16,308	$	430	$	56	$	7	$	363,344

	December 31, 2019
	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	$	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

Loans Individually Evaluated for Impairment by Loan Type

The following table presents information related to loans individually evaluated for impairment by loan type as of the periods indicated:

	December 31, 2020						December 31, 2019
	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:
Single‑family	$	2	$	1	$	-	$	-	$	-	$	‑
Multi‑family		298		298		-		313		313	‑
Church		2,527		1,970		-		3,491		2,446	‑
With an allowance recorded:
Single family		573		573		88		593		593		60
Multi‑family	‑		‑		‑		‑		‑		‑
Church		1,842		1,842		52		1,928		1,928		85
Commercial – other		47		47		1		63		63		2
Total	$	5,289	$	4,731	$	141	$	6,388	$	5,343	$	147

Average of Loans Individually Evaluated for Impairment by Loan Type and Related Interest Income

The following tables present the monthly average of loans individually evaluated for impairment by loan type and the related interest income for the periods indicated:

	For the year ended December 31, 2020				For the year ended December 31, 2019
	Average Recorded Investment		Cash Basis Interest Income Recognized		Average Recorded Investment		Cash Basis Interest Income Recognized
	(In thousands)
Single family	$	591	$	29	$	626	$	29
Multi‑family		306		21		318		22
Church		4,033		442		5,017		939
Commercial – other		55		4		63		5
Total	$	4,985	$	496	$	6,024	$	995

Aging of Recorded Investment in Past Due Loans by Loan Type

The following tables present the aging of the recorded investment in past due loans by loan type as of the periods indicated:

	December 31, 2020
	30‑59 Days Past Due			60‑89 Days Past Due		Greater than 90 Days Past Due	Total Past Due		Current		Total
	(In thousands)
Loans receivable held for investment:
Single family	$	-	$	‑	$	‑	$	-	$	48,357	$	48,357
Multi‑family	‑			‑		‑	‑			273,864		273,864
Commercial real estate	‑			‑		‑	‑			24,322		24,322
Church	‑			‑		‑	‑			16,308		16,308
Construction	‑			‑		‑	‑			430		430
Commercial – other	‑			‑		‑	‑			56		56
Consumer	‑			‑		‑	‑			7		7
Total	$	-	$	‑	$	‑	$	-	$	363,344	$	363,344

	December 31, 2019
	30‑59 Days Past Due			60‑89 Days Past Due		Greater than 90 Days Past Due	Total 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

Recorded Investment in Non-accrual Loans by Loan Type

The following table presents the recorded investment in non‑accrual loans by loan type as of the periods indicated:

	December 31, 2020		December 31, 2019
Loans receivable held for investment:	(In thousands)
Single family	$	1	$	18
Church		786		406
Total non-accrual loans	$	787	$	424

Risk Categories of Loans by Loan Type

Based on the most recent analysis performed, the risk categories of loans by loan type as of the periods indicated were as follows:

	December 31, 2020
	Pass		Watch		Special Mention		Substandard			Doubtful		Loss
	(In thousands)
Single family	$	48,357	$	-	$	-	$	1	$	‑	$	‑
Multi‑family		273,501		-	‑			362		‑		‑
Commercial real estate		22,834		1,488	‑		‑			‑		‑
Church		12,899		657	‑			2,752		‑		‑
Construction		430		-	‑		‑			‑		‑
Commercial – other		9		-	‑			47		‑		‑
Consumer		7		-	‑		‑			‑
Total	$	358,037	$	2,145	$	-	$	3,162	$		$	‑

	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	$		$	‑