Loans Receivable and Allowance for Loan and Lease Losses Loans Receivable and ALLL (Tables)

3 Months Ended

Jun. 30, 2019

Loans and Leases Receivable Disclosure [Abstract]

Schedule of Accounts, Notes, Loans and Financing Receivable

The following is a summary of loans receivable at June 30, 2019 and March 31, 2019:



	June 30, 2019					March 31, 2019
$ in thousands	Amount			Percent		Amount			Percent
Gross loans receivable:
One-to-four family	$	106,013		25.3	%	$	108,363		25.5	%
Multifamily	85,145			20.3	%	86,177			20.2	%
Commercial real estate	131,597			31.4	%	130,812			30.7	%
Business ⁽¹⁾	92,380			22.1	%	96,430			22.7	%
Consumer ⁽²⁾	3,789			0.9	%	4,023			0.9	%
Total loans receivable	$	418,924		100.0	%	$	425,805		100.0	%

Unamortized premiums, deferred costs and fees, net	3,011					3,023

Allowance for loan losses	(4,670		)			(4,646		)
Total loans receivable, net	$	417,265				$	424,182

⁽¹⁾ Includes business overdrafts

⁽²⁾Includes personal loans and consumer overdrafts

Allowance for Loan Losses

The following is an analysis of the allowance for loan losses based upon the method of evaluating loan impairment for the three month periods ended June 30, 2019 and 2018, and the fiscal year ended March 31, 2019.



Three months ended June 30, 2019
$ in thousands	One-to-four family			Multifamily			Commercial Real Estate			Business			Consumer			Unallocated		Total
Allowance for loan losses:
Beginning Balance	$	1,274		$	885		$	766		$	1,330		$	154		$	237	$	4,646
Charge-offs	—			—			—			—			(67		)	—		(67		)
Recoveries	—			—			—			88			2			—		90
Provision for (recovery of) Loan Losses	(42		)	(10		)	(98		)	(18		)	151			18		1
Ending Balance	$	1,232		$	875		$	668		$	1,400		$	240		$	255	$	4,670

Allowance for Loan Losses Ending Balance: collectively evaluated for impairment	$	1,052		$	875		$	668		$	1,383		$	240		$	255	$	4,473
Allowance for Loan Losses Ending Balance: individually evaluated for impairment	180			—			—			17			—			—		197

Loan Receivables Ending Balance:	$	107,558		$	85,822		$	132,112		$	92,615		$	3,828		$	—	$	421,935
Ending Balance: collectively evaluated for impairment	102,259			82,678			132,112			89,390			3,828			—		410,267
Ending Balance: individually evaluated for impairment	5,299			3,144			—			3,225			—			—		11,668



At March 31, 2019
$ in thousands	One-to-four family		Multifamily		Commercial Real Estate		Business		Consumer		Unallocated		Total
Allowance for Loan Losses Ending Balance: collectively evaluated for impairment	$	1,103	$	885	$	766	$	1,312	$	154	$	237	$	4,457
Allowance for Loan Losses Ending Balance: individually evaluated for impairment	171		—		—		18		—		—		189

Loan Receivables Ending Balance:	$	109,926	$	86,886	$	131,292	$	96,661	$	4,063	$	—	$	428,828
Ending Balance: collectively evaluated for impairment	104,509		83,672		130,816		93,399		4,063		—		416,459
Ending Balance: individually evaluated for impairment	5,417		3,214		476		3,262		—		—		12,369



Three months ended June 30, 2018
$ in thousands	One-to-four family			Multifamily			Commercial Real Estate			Business			Consumer			Unallocated		Total
Allowance for loan losses:
Beginning Balance	$	1,210		$	1,819		$	1,052		$	1,003		$	18		$	24	$	5,126
Charge-offs	(96		)	—			—			(11		)	(3		)	—		(110		)
Recoveries	—			158			—			5			3			—		166
Provision for (recovery of) Loan Losses	739			(590		)	(512		)	172			154			42		5
Ending Balance	$	1,853		$	1,387		$	540		$	1,169		$	172		$	66	$	5,187

Schedule Nonaccrual Loans

The following is a summary of nonaccrual loans at June 30, 2019 and March 31, 2019.



$ in thousands	June 30, 2019		March 31, 2019
Gross loans receivable:
One-to-four family	$	4,132	$	4,488
Multifamily	3,144		3,214
Commercial real estate	—		476
Business	1,958		2,051
Consumer	—		65
Total nonaccrual loans	$	9,234	$	10,294

Loans Receivable, Credit Quality Indicators

At June 30, 2019, and based on the most recent analysis performed in the current quarter, the risk category by class of loans is as follows:



$ in thousands	Multifamily		Commercial Real Estate		Business
Credit Risk Profile by Internally Assigned Grade:
Pass	$	82,678	$	131,484	$	84,725
Special Mention	—		628		4,046
Substandard	3,144		—		3,844
Doubtful	—		—		—
Loss	—		—		—
Total	$	85,822	$	132,112	$	92,615

			One-to-four family		Consumer
Credit Risk Profile Based on Payment Activity:
Performing			$	103,426	$	3,794
Non-Performing			4,132		34
Total			$	107,558	$	3,828

At March 31, 2019, and based on the most recent analysis performed, the risk category by class of loans is as follows:



$ in thousands	Multifamily		Commercial Real Estate		Business
Credit Risk Profile by Internally Assigned Grade:
Pass	$	83,672	$	128,319	$	90,336
Special Mention	—		2,497		2,425
Substandard	3,214		476		3,900
Doubtful	—		—		—
Loss	—		—		—
Total	$	86,886	$	131,292	$	96,661

			One-to-four family		Consumer
Credit Risk Profile Based on Payment Activity:
Performing			$	106,531	$	4,063
Non-Performing			3,395		—
Total			$	109,926	$	4,063

Past Due Financing Receivables

The following table presents an aging analysis of the recorded investment of past due loans receivables at June 30, 2019 and March 31, 2019.



June 30, 2019
$ in thousands	30-59 Days Past Due		60-89 Days Past Due		90 or More Days Past Due		Total Past Due		Current		Total Loans Receivables
One-to-four family	$	—	$	874	$	3,394	$	4,268	$	103,290	$	107,558
Multifamily	—		—		2,056		2,056		83,766		85,822
Commercial real estate	—		—		—		—		132,112		132,112
Business	—		148		1,018		1,166		91,449		92,615
Consumer	125		43		35		203		3,625		3,828
Total	$	125	$	1,065	$	6,503	$	7,693	$	414,242	$	421,935



March 31, 2019
$ in thousands	30-59 Days Past Due		60-89 Days Past Due		90 or More Days Past Due		Total Past Due		Current		Total Loans Receivables
One-to-four family	$	1,827	$	—	$	3,395	$	5,222	$	104,704	$	109,926
Multifamily	2,580		—		2,118		4,698		82,188		86,886
Commercial real estate	121		—		—		121		131,171		131,292
Business	780		—		599		1,379		95,282		96,661
Consumer	87		53		65		205		3,858		4,063
Total	$	5,395	$	53	$	6,177	$	11,625	$	417,203	$	428,828

Impaired Loans

The following table presents information on impaired loans with the associated allowance amount, if applicable, at June 30, 2019 and March 31, 2019.



	At June 30, 2019						At March 31, 2019
$ in thousands	Recorded Investment		Unpaid Principal Balance		Associated Allowance		Recorded Investment		Unpaid Principal Balance		Associated Allowance
With no specific allowance recorded:
One-to-four family	$	4,376	$	5,531	$	—	$	4,488	$	5,643	$	—
Multifamily	3,144		3,144		—		3,214		3,214		—
Commercial real estate	—		—		—		476		476		—
Business	1,980		2,037		—		1,974		2,017		—
With an allowance recorded:
One-to-four family	923		923		180		929		929		171
Multifamily	—		—		—		—		—		—
Business	1,245		1,245		17		1,288		1,288		18
Total	$	11,668	$	12,880	$	197	$	12,369	$	13,567	$	189

The following tables presents information on average balances on impaired loans and the interest income recognized on a cash basis for the three month periods ended June 30, 2019 and 2018.



	For the Three Months Ended June 30,
	2019				2018
$ in thousands	Average Balance		Interest Income Recognized		Average Balance		Interest Income Recognized
With no specific allowance recorded:
One-to-four family	$	4,432	$	17	$	5,178	$	29
Multifamily	3,179		27		1,700		9
Commercial real estate	238		—		1,017		8
Business	1,977		24		641		6
With an allowance recorded:
One-to-four family	926		—		949		—
Multifamily	—		—		371		—
Business	1,266		—		2,862		4
Total	$	12,018	$	68	$	12,718	$	56