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Loans Receivable Held for Investment (Tables)
 6 Months Ended
Jun. 30, 2021
Loans Receivable Held for Investment [Abstract]  
Loans Receivable Held for Investment

Loans receivable held for investment were as follows as of the dates indicated:
  
   
June 30, 2021
    
December 31, 2020
  
   
(In thousands)
  
Real estate:
            
Single family
  
$
53,556
    
$
48,217
  
Multi-family
    
346,192
      
272,387
  
Commercial real estate
    
92,491
      
24,289
  
Church
    
15,652
      
16,658
  
Construction
    
22,677
      
429
  
Commercial – other
    
46,973
      
57
  
SBA loans (1)
     40,027       -  
Consumer
    
73
      
7
  
Gross loans receivable before deferred loan costs and premiums
    
617,641
      
362,044
  
Unamortized net deferred loan costs and premiums
    
373
      
1,300
  
Gross loans receivable
    
618,014
      
363,344
  
Allowance for loan losses     (3,296 )     (3,215 )
Loans receivable, net
  
$
614,718
    
$
360,129
  
  
    (1)          Including Paycheck Protection Program (PPP) loans.
Carrying Amount of Purchased Credit Impaired Loans The carrying amount of those loans as of June 30, 2021, is as follows:

 
  
June 30, 2021
  
 
  
(In thousands)
  
Real estate:
      
Single family
  
$
534
  
Commercial real estate
    
187
  
Commercial - other
    
84
  
   
$
805
  
Accretable yield on Purchased Credit Impaired Loans

The following table summarizes the accretable yield on the purchased credit impaired loans for the three and six months ended June 30, 2021:

 
  
Three Months Ended
June 30, 2021
    
Six Months Ended
June 30, 2021
  
 
  
(In thousands)
  
Balance at the beginning of the period
  
$
-
    
$
-
  
Additions
    
346
      
346
  
Accretion
    
(19
)
    
(19
)
Balance at the end of the period
  
$
327
    
$
327
  
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 June 30, 2021
  
   
Real Estate
                          
   
Single
family
    
Multi-
family
    
Commercial
real estate
    
Church
    
Construction
    
Commercial - other
    
SBA
Loans
    
Consumer
    
Total
  
   
(In thousands)
              
Beginning balance
  
$
275
    
$
2,473
    
$
219
    
$
221
    
$
22
    
$
5
     $ -    
$
-
    
$
3,215
  
Provision for (recapture of) loan losses
    
(105
)
    
133
      
8
      
(13
)
    
59
      
(1
)
     -      
-
      
81
  
Recoveries
    
-
      
-
      
-
      
-
      
-
      
-
       -      
-
      
-
  
Loans charged off
    
-
      
-
      
-
      
-
      
-
      
-
       -      
-
      
-
  
Ending balance
  
$
170
    
$
2,606
    
$
227
    
$
208
    
$
81
    
$
4
     $ -    
$
-
    
$
3,296
  
   
   
Three Months Ended June 30, 2020
  
   
Real Estate
                          
   
Single
family
    
Multi-
family
    
Commercial real estate
    
Church
    
Construction
    
Commercial - other
    
SBA
Loans
    
Consumer
    
Total
  
   
(In thousands)
        
Beginning balance
  
$
308
    
$
2,408
    
$
140
    
$
323
    
$
24
    
$
7
     $ -    
$
1
    
$
3,211
  
Provision for (recapture of) loan losses
    
-
      
16
      
29
      
(41
)
    
(2
)
    
(1
)
     -      
(1
)
    
-
  
Recoveries
    
4
      
-
      
-
      
-
      
-
      
-
       -      
-
      
4
  
Loans charged off
    
-
      
-
      
-
      
-
      
-
      
-
       -      
-
      
-
  
Ending balance
  
$
312
    
$
2,424
    
$
169
    
$
282
    
$
22
    
$
6
     $
-    
$
-
    
$
3,215
  
 
   
Six Months Ended June 30, 2021
  
   
Real Estate
                          
   
Single family
    
Multi-family
    
Commercial real estate
    
Church
    
Construction
    
Commercial - other
    
SBA
Loans
    
Consumer
    
Total
  
         
(In thousands)
  
Beginning balance
  
$
296
    
$
2,433
    
$
222
    
$
237
    
$
22
    
$
4
    
$
-
    
$
1
    
$
3,215
  
Provision for (recapture of)    loan losses
    
(126
)
    
173
      
5
      
(29
)
    
59
      
-
      
-
      
(1
)
    
81
  
Recoveries
    
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
  
Loans charged off
    
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
  
Ending balance
  
$
170
    
$
2,606
    
$
227
    
$
208
    
$
81
    
$
4
    
$
-
    
$
-
    
$
3,296
  


   
Six Months Ended June 30, 2020
  
   
Real Estate
                          
   
Single family
    
Multi-family
    
Commercial real estate
    
Church
    
Construction
    
Commercial - other
    
SBA
Loans
    
Consumer
    
Total
  
         
(In thousands)
  
Beginning balance
  
$
312
    
$
2,319
    
$
133
    
$
362
    
$
48
    
$
7
    
$
-
    
$
1
    
$
3,182
  
Provision for (recapture of)    loan losses
    
(4
)
    
105
      
36
      
(80
)
    
(26
)
    
(1
)
    
-
      
(1
)
    
29
  
Recoveries
    
4
      
-
      
-
      
-
      
-
      
-
      
-
      
-
      
4
  
Loans charged off
    
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
  
Ending balance
  
$
312
    
$
2,424
    
$
169
    
$
282
    
$
22
    
$
6
    
$
-
    
$
-
    
$
3,215
  
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 the dates indicated:
   
   
June 30, 2021
  
   
Real Estate
                          
   
Single
family
    
Multi-
family
    
Commercial
real estate
    
Church
    
Construction
    
Commercial - other
     SBA
Loans
    
Consumer
    
Total
  
   
(In thousands)
  
Allowance for loan losses:
                                                      
Ending allowance balance attributable to loans:                                                                        
Individually evaluated for impairment
  
$
3
    
$
-
    
$
-
    
$
42
    
$
-
    
$
-
      $ -    
$
-
    
$
45
  
Collectively evaluated for impairment
    
167
      
2,606
      
227
      
166
      
81
      
4
       -      
-
      
3,251
  
Total ending allowance balance
  
$
170
    
$
2,606
    
$
227
    
$
208
    
$
81
    
$
4
      $ -    
$
-
    
$
3,296
  
Loans:
                                                                        
Loans individually evaluated for impairment
  
$
66
    
$
290
    
$
-
    
$
3,718
    
$
-
    
$
-
      $ -    
$
-
    
$
4,074
  
Loans collectively evaluated for impairment
    
53,600
      
347,540
      
92,491
      
11,602
      
22,583
      
46,973
       39,078      
73
      
613,940
  
Total ending loans balance
  
$
53,666
    
$
347,830
    
$
92,491
    
$
15,320
    
$
22,583
    
$
46,973
      $ 39,078    
$
73
    
$
618,014
  
   
                  December 31, 2020  
   
Real Estate
                            
   
Single
family
    
Multi-
family
    
Commercial
real estate
    
Church
    
Construction
    
Commercial - other
      
 SBA
Loans
    
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:
  
   
June 30, 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
  
290
    
290
    
-
      
298
      
298
      
-
  
Church
  
2,487
    
1,914
    
-
      
2,527
      
1,970
      
-
  
With an allowance recorded:
                                                
Single family
    
66
      
66
      
3
      
573
      
573
      
88
  
Church
    
1,804
      
1,804
      
42
      
1,842
      
1,842
      
52
  
Commercial - other
    
-
      
-
      
-
      
47
      
47
      
1
  
Total
  
$
4,647
    
$
4,074
    
$
45
    
$
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 June 30, 2021
    
Three Months Ended June 30, 2020
  
   
Average
Recorded
Investment
    
Cash Basis
Interest
Income
Recognized
    
Average
Recorded
Investment
    
Cash Basis
Interest
Income
Recognized
  
   
(In thousands)
  
Single family
  
$
316
    
$
4
    
$
597
    
$
7
  
Multi-family
    
292
      
5
      
308
      
5
  
Church
    
3,742
      
63
      
4,160
      
74
  
Commercial - other
    
11
      
-
      
59
      
1
  
Total
  
$
4,361
    
$
72
    
$
5,124
    
$
87
  

   
Six Months Ended June 30, 2021
    
Six Months Ended June 30, 2020
  
   
Average
Recorded Investment
    
Cash Basis
Interest
Income
Recognized
    
Average
Recorded
Investment
    
Cash Basis
Interest
Income
Recognized
  
   
(In thousands)
  
Single family
  
$
426
    
$
10
    
$
599
    
$
14
  
Multi-family
    
294
      
10
      
309
      
11
  
Church
    
3,766
      
126
      
4,190
      
309
  
Commercial - other
    
26
      
1
      
60
      
2
  
Total
  
$
4,512
    
$
147
    
$
5,158
    
$
336
  

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:

   
June 30, 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
  
$
-
    
$
-
    
$
-
    
$
-
    
$
53,666
    
$
53,666
  
Multi-family
    
-
      
-
      
-
      
-
      
347,830
      
347,830
  
Commercial real estate
    
1,554
      
-
      
-
      
1,554
      
90,937
      
92,491
  
Church
    
-
      
-
      
-
      
-
      
15,320
      
15,320
  
Construction
    
-
      
-
      
-
      
-
      
22,583
      
22,583
  
Commercial - other
    
-
      
310
      
-
      
310
      
46,663
      
46,973
  
 SBA loans     21
      -
      -       21       39,057
      39,078
 
Consumer
    
-
      
-
      
-
      
-
      
73
      
73
  
Total
  
$
1,575
    
$
310
    
$
-
    
$
1,885
    
$
616,129
    
$
618,014
  
   
   
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:
   
   
June 30, 2021
    
December 31, 2020
  
   
(In thousands)
  
Loans receivable held for investment:
            
Single-family residence
  
$
-
    
$
1
  
Church
  
735
      
786
  
Total non-accrual loans
  
$
735
    
$
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:
   
   
June 30, 2021
  
   
Pass
    
Watch
    
Special Mention
    
Substandard
    
Doubtful
    
Loss
  
   
(In thousands)
  
Single family
  
$
53,666
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
  
Multi-family
    
347,477
      
-
      
-
      
353
      
-
      
-
  
Commercial real estate
    
91,018
      
-
      
-
      
1,473
      
-
      
-
  
Church
    
13,615
      
647
      
-
      
1,058
      
-
      
-
  
Construction
    
22,583
      
-
      
-
      
-
      
-
      
-
  
Commercial - other
    
46,973
      
-
      
-
      
-
      
-
      
-
  
SBA loans
     39,078
       -
       -
       -
       -
       -
  
Consumer
    
73
      
-
      
-
      
-
      
-
      
-
  
Total
  
$
614,483
    
$
647
    
$
-
    
$
2,884
    
$
-
    
$
-
  

 
  
 
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
    
$
-
    
$
-