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Loans Receivable Held for Investment (Tables)
 9 Months Ended
Sep. 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:
  
   
September 30, 2021
    
December 31, 2020
  
   
(In thousands)
  
Real estate:
            
Single family
  
$
50,880
    
$
48,217
  
Multi-family
    
383,401
      
272,387
  
Commercial real estate
    
98,411
      
24,289
  
Church
    
15,057
      
16,658
  
Construction
    
21,076
      
429
  
Commercial – other
    
47,306
      
57
  
SBA loans (1)
     28,873       -  
Consumer
    
12
      
7
  
Gross loans receivable before deferred loan costs and premiums
    
645,016
      
362,044
  
Unamortized net deferred loan costs and premiums
    
843
      
1,300
  
Gross loans receivable
    
645,859
      
363,344
  
Allowance for loan losses     (3,661 )     (3,215 )
Loans receivable, net
  
$
642,198
    
$
360,129
  
  
    (1)          Including Paycheck Protection Program (PPP) loans.
Carrying Amount of Purchased Credit Impaired Loans The carrying amount of those loans as of September 30, 2021, was as follows:

 
  
September 30, 2021
  
 
  
(In thousands)
  
Real estate:
      
Single family
  
$
558
  
Commercial real estate
    
221
  
Commercial - other
    
104
  
   
$
883
  
Accretable yield on Purchased Credit Impaired Loans

The following table summarizes the accretable yield on the PCI loans for the three and nine months ended September 30, 2021:

 
  
Three Months Ended
September 30, 2021
    
Nine Months Ended
September 30, 2021
  
 
  
(In thousands)
  
Balance at the beginning of the period
  
$
327
    
$
-
  
Additions
    
-
      
346
  
Accretion
    
(19
)
    
(38
)
Balance at the end of the period
  
$
308
    
$
308
  
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 September 30, 2021
  
   
Real Estate
                          
   
Single
family
    
Multi-
family
    
Commercial
real estate
    
Church
    
Construction
    
Commercial - other
    
SBA
Loans
    
Consumer
    
Total
  
   
(In thousands)
              
Beginning balance
  
$
170
    
$
2,606
    
$
227
    
$
208
    
$
81
    
$
4
     $ -    
$
-
    
$
3,296
  
Provision for (recapture of) loan losses
    
(10
)
    
325
      
32
      
(18
)
    
35
      
-
    -      
1
      
365
  
Recoveries
    
-
      
-
      
-
      
-
      
-
      
-
       -      
-
      
-
  
Loans charged off
    
-
      
-
      
-
      
-
      
-
      
-
       -      
-
      
-
  
Ending balance
  
$
160
    
$
2,931
    
$
259
    
$
190
    
$
116
    
$
4
     $ -    
$
1
    
$
3,661
  
   
   
Three Months Ended September 30, 2020
  
   
Real Estate
                          
   
Single
family
    
Multi-
family
    
Commercial real estate
    
Church
    
Construction
    
Commercial - other
    
SBA
Loans
    
Consumer
    
Total
  
   
(In thousands)
        
Beginning balance
  
$
312
    
$
2,424
    
$
169
    
$
282
    
$
22
    
$
6
     $ -    
$
-
    
$
3,215
  
Provision for (recapture of) loan losses
    
9
      
1
      
17
      
(28
)
    
-
   
(1
)
     -      
2
   
-
  
Recoveries
    
-
      
-
      
-
      
-
      
-
      
-
       -      
-
      
-
  
Loans charged off
    
-
      
-
      
-
      
-
      
-
      
-
       -      
-
      
-
  
Ending balance
  
$
321
    
$
2,425
    
$
186
    
$
254
    
$
22
    
$
5
     $
-    
$
2
    
$
3,215
  
 
   
Nine Months Ended September 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
    
(136
)
    
498
      
37
      
(47
)
    
94
      
-
      
-
      
-
   
446
  
Recoveries
    
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
  
Loans charged off
    
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
  
Ending balance
  
$
160
    
$
2,931
    
$
259
    
$
190
    
$
116
    
$
4
    
$
-
    
$
1
    
$
3,661
  


   
Nine Months Ended September 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
    
5
   
106
      
53
      
(108
)
    
(26
)
    
(2
)
    
-
      
1
   
29
  
Recoveries
    
4
      
-
      
-
      
-
      
-
      
-
      
-
      
-
      
4
  
Loans charged off
    
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
  
Ending balance
  
$
321
    
$
2,425
    
$
186
    
$
254
    
$
22
    
$
5
    
$
-
    
$
2
    
$
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:
   
   
September 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
    
$
-
    
$
-
    
$
27
    
$
-
    
$
-
      $ -    
$
-
    
$
30
  
Collectively evaluated for impairment
    
157
      
2,931
      
259
      
163
      
116
      
4
       -      
1
      
3,631
  
Total ending allowance balance
  
$
160
    
$
2,931
    
$
259
    
$
190
    
$
116
    
$
4
      $ -    
$
1
    
$
3,661
  
Loans:
                                                                        
Loans individually evaluated for impairment
  
$
65
    
$
286
    
$
-
    
$
3,357
    
$
-
    
$
-
      $ -    
$
-
    
$
3,708
  
Loans collectively evaluated for impairment
    
50,922
      
384,959
      
98,384
      
11,371
      
20,907
      
47,306
       28,290      
12
      
642,151
  
Total ending loans balance
  
$
50,987
    
$
385,245
    
$
98,384
    
$
14,728
    
$
20,907
    
$
47,306
      $ 28,290    
$
12
    
$
645,859
  
   
    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 dates indicated:
  
   
September 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
  
286
    
286
    
-
      
298
      
298
      
-
  
Church
  
2,468
    
1,879
    
-
      
2,527
      
1,970
      
-
  
With an allowance recorded:
                                                
Single family
    
65
      
65
      
3
      
573
      
573
      
88
  
Church
    
1,478
      
1,478
      
27
      
1,842
      
1,842
      
52
  
Commercial - other
    
-
      
-
      
-
      
47
      
47
      
1
  
Total
  
$
4,297
    
$
3,708
    
$
30
    
$
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 September 30, 2021
    
Three Months Ended September 30, 2020
  
   
Average
Recorded
Investment
    
Cash Basis
Interest
Income
Recognized
    
Average
Recorded
Investment
    
Cash Basis
Interest
Income
Recognized
  
   
(In thousands)
  
Single family
  
$
65
    
$
4
    
$
589
    
$
7
  
Multi-family
    
288
      
5
      
305
      
5
  
Church
    
3,614
      
64
      
3,938
      
67
  
Commercial - other
    
-
      
-
      
50
      
1
  
Total
  
$
3,967
    
$
73
    
$
4,882
    
$
80
  

   
Nine Months Ended September 30, 2021
    
Nine Months Ended September 30, 2020
  
   
Average
Recorded Investment
    
Cash Basis
Interest
Income
Recognized
    
Average
Recorded
Investment
    
Cash Basis
Interest
Income
Recognized
  
   
(In thousands)
  
Single family
  
$
318
    
$
14
    
$
596
    
$
22
  
Multi-family
    
292
      
15
      
308
      
16
  
Church
    
3,710
      
190
      
4,094
      
376
  
Commercial - other
    
18
      
1
      
57
      
3
  
Total
  
$
4,338
    
$
220
    
$
5,055
    
$
417
  

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:

   
September 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
  
$
-
    
$
-
    
$
-
    
$
-
    
$
50,987
    
$
50,987
  
Multi-family
    
249
      
-
      
-
      
249
      
384,996
      
385,245
  
Commercial real estate
    
-
      
-
      
-
      
-
      
98,384
      
98,384
  
Church
    
-
      
-
      
-
      
-
      
14,728
      
14,728
  
Construction
    
-
      
-
      
-
      
-
      
20,907
      
20,907
  
Commercial - other
    
-
      
-
      
-
      
-
      
47,306
      
47,306
  
 SBA loans     -
      -
      -       -       28,290
      28,290
 
Consumer
    
-
      
-
      
-
      
-
      
12
      
12
  
Total
  
$
249
    
$
-
    
$
-
    
$
249
    
$
645,610
    
$
645,859
  
   
   
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:
   
   
September 30, 2021
    
December 31, 2020
  
   
(In thousands)
  
Loans receivable held for investment:
            
Single-family residence
  
$
-
    
$
1
  
Church
  
709
      
786
  
Total non-accrual loans
  
$
709
    
$
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:
   
   
September 30, 2021
  
   
Pass
    
Watch
    
Special Mention
    
Substandard
    
Doubtful
    
Loss
  
   
(In thousands)
  
Single family
  
$
50,987
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
  
Multi-family
    
384,897
      
-
      
-
      
348
      
-
      
-
  
Commercial real estate
    
96,918
      
-
      
-
      
1,466
      
-
      
-
  
Church
    
13,045
      
641
      
-
      
1,042
      
-
      
-
  
Construction
    
20,907
      
-
      
-
      
-
      
-
      
-
  
Commercial - other
    
47,306
      
-
      
-
      
-
      
-
      
-
  
SBA loans
     28,290
       -
       -
       -
       -
       -
  
Consumer
    
12
      
-
      
-
      
-
      
-
      
-
  
Total
  
$
642,362
    
$
641
    
$
-
    
$
2,856
    
$
-
    
$
-
  

 
  
 
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
    
$
-
    
$
-