Loans Receivable Held for Investment (Tables)

3 Months Ended

Mar. 31, 2021

Loans Receivable Held for Investment [Abstract]

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

	March 31, 2021			December 31, 2020
	(In thousands)
Real estate:
Single family	$	44,402		$	48,217
Multi-family		279,554			272,387
Commercial real estate		24,129			24,289
Church		15,799			16,658
Construction		469			429
Commercial – other		54			57
Consumer		7			7
Gross loans receivable before deferred loan costs and premiums		364,414			362,044
Unamortized net deferred loan costs and premiums		1,321			1,300
Gross loans receivable		365,735			363,344
Allowance for loan losses		(3,215	)		(3,215	)
Loans receivable, net	$	362,520		$	360,129

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:

	Three Months Ended March 31, 2021
	Real Estate
	Single family			Multi- family		Commercial real estate			Church			Construction		Commercial - other		Consumer			Total
	(In thousands)
Beginning balance	$	296		$	2,433	$	222		$	237		$	22	$	4	$	1		$	3,215
Provision for (recapture of) loan losses		(21	)		40		(3	)		(16	)		-		1		(1	)		-
Recoveries		-			-		-			-			-		-		-			-
Loans charged off		-			-		-			-			-		-		-			-
Ending balance	$	275		$	2,473	$	219		$	221		$	22	$	5	$	-		$	3,215

	Three Months Ended March 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		(4	)		89		7		(39	)		(24	)		-		-		29
Recoveries		-			-		-		-			-			-		-		-
Loans charged off		-			-		-		-			-			-		-		-
Ending balance	$	308		$	2,408	$	140	$	323		$	24		$	7	$	1	$	3,211

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:

	March 31, 2021
	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	$	87	$	-	$	-	$	48	$	-	$	1	$	-	$	136
Collectively evaluated for impairment		188		2,473		219		173		22		4		-		3,079
Total ending allowance balance	$	275	$	2,473	$	219	$	221	$	22	$	5	$	-	$	3,215
Loans:
Loans individually evaluated for impairment	$	568	$	293	$	-	$	3,765	$	-	$	45	$	-	$	4,671
Loans collectively evaluated for impairment		43,969		280,753		24,164		11,693		469		9		7		361,064
Total ending loans balance	$	44,537	$	281,046	$	24,164	$	15,458	$	469	$	54	$	7	$	365,735

	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

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:

	March 31, 2021						December 31, 2020
	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		293		293		-		298		298		-
Church		2,507		1,942		-		2,527		1,970		-
With an allowance recorded:
Single family		568		568		87		573		573		88
Church		1,823		1,823		48		1,842		1,842		52
Commercial - other		45		45		1		47		47		1
Total	$	5,236	$	4,671	$	136	$	5,289	$	4,731	$	141

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:

	Three Months Ended March 31, 2021				Three Months Ended March 31, 2020
	Average Recorded Investment		Cash Basis Interest Income Recognized		Average Recorded Investment		Cash Basis Interest Income Recognized
	(In thousands)
Single family	$	571	$	7	$	608	$	7
Multi-family		296		5		311		5
Church		3,789		63		4,296		236
Commercial – other		46		1		62		1
Total	$	4,702	$	76	$	5,277	$	249

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:

	March 31, 2021
	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	$	-	$	-	$	-	$	-	$	44,537	$	44,537
Multi-family		-		-		-		-		281,046		281,046
Commercial real estate		-		-		-		-		24,164		24,164
Church		-		-		-		-		15,458		15,458
Construction		-		-		-		-		469		469
Commercial - other		-		-		-		-		54		54
Consumer		-		-		-		-		7		7
Total	$	-	$	-	$	-	$	-	$	365,735	$	365,735

	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

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:

	March 31, 2021		December 31, 2020
	(In thousands)
Loans receivable held for investment:
Single-family residence	$	-	$	1
Church		760		786
Total non-accrual loans	$	760	$	787

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:

	March 31, 2021
	Pass		Watch		Special Mention		Substandard		Doubtful		Loss
	(In thousands)
Single family	$	44,536	$ ‑		$	-	$	-	$	-	$	-
Multi-family		280,689		-		-		358		-		-
Commercial real estate		22,684		1,480		-	‑			-		-
Church		12,093		652		-		2,713		-		-
Construction		469	‑			-	‑			-		-
Commercial - other		9	‑			-		45		-		-
Consumer		7	‑			-	‑			-		-
Total	$	360,487	$	2,132	$	-	$	3,116	$	-	$	-

	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	$	-	$	-