XML 35 R25.htm IDEA: XBRL DOCUMENT v3.22.2.2
Loans Receivable and ALLL (Tables)
 3 Months Ended
Jun. 30, 2022
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, 2022 and March 31, 2022:
June 30, 2022
March 31, 2022
$ in thousandsAmountPercentAmountPercent
Gross loans receivable:    
One-to-four family$67,373 12.2 %$69,297 12.0 %
Multifamily151,787 27.5 %160,800 27.9 %
Commercial real estate173,047 31.3 %174,270 30.2 %
Business (1)
158,491 28.7 %170,497 29.6 %
Consumer (2)
1,518 0.3 %1,623 0.3 %
Total loans receivable$552,216 100.0 %$576,487 100.0 %
Unamortized premiums, deferred costs and fees, net3,181 3,017 
Allowance for loan losses(5,604)(5,624)
Total loans receivable, net$549,793 $573,880 
(1) Includes PPP loans and 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, 2022 and 2021, and the fiscal year ended March 31, 2022.
Three months ended June 30, 2022
$ in thousandsOne-to-four
family		MultifamilyCommercial Real EstateBusinessConsumer UnallocatedTotal
Allowance for loan losses:     
Beginning Balance$731 $1,114 $1,157 $2,497 $123 $2 $5,624 
Charge-offs— — — — (13)— (13)
Recoveries— — — 19 1 — 20 
Provision for (recovery of) Loan Losses(82)(61)(49)(195)2 358 (27)
Ending Balance$649 $1,053 $1,108 $2,321 $113 $360 $5,604 
Allowance for Loan Losses Ending Balance: collectively evaluated for impairment$611 $1,053 $1,108 $2,244 $113 $360 $5,489 
Allowance for Loan Losses Ending Balance: individually evaluated for impairment38 — — 77 — — 115 
Loan Receivables Ending Balance:$68,294 $153,141 $174,102 $158,327 $1,533 $— $555,397 
Ending Balance: collectively evaluated for impairment62,647 153,032 167,932 151,929 1,533 — 537,073 
Ending Balance: individually evaluated for impairment5,647 109 6,170 6,398 — — 18,324 

At March 31, 2022
$ in thousandsOne-to-four familyMultifamilyCommercial Real EstateBusinessConsumerUnallocatedTotal
Allowance for Loan Losses Ending Balance: collectively evaluated for impairment$731 $1,114 $1,157 $2,428 $123 $2 $5,555 
Allowance for Loan Losses Ending Balance: individually evaluated for impairment— — — 69 — — 69 
Loan Receivables Ending Balance:$70,261 $162,261 $175,313 $170,031 $1,638 $— $579,504 
Ending Balance: collectively evaluated for impairment65,369 161,746 175,313 163,991 1,638 — 568,057 
Ending Balance: individually evaluated for impairment4,892 515 — 6,040 — — 11,447 

Three months ended June 30, 2021
$ in thousandsOne-to-four familyMultifamilyCommercial Real EstateBusinessConsumerUnallocatedTotal
Allowance for loan losses:
Beginning Balance$1,058 $880 $907 $1,855 $165 $275 $5,140 
Charge-offs— — — — (55)— (55)
Recoveries— — — 49 8 — 57 
Provision for (recovery of) Loan Losses28 (54)(37)200 26 (91)72 
Ending Balance$1,086 $826 $870 $2,104 $144 $184 $5,214 
Schedule Nonaccrual Loans
The following is a summary of nonaccrual loans at June 30, 2022 and March 31, 2022.
$ in thousands
June 30, 2022
March 31, 2022
Gross loans receivable: 
One-to-four family$4,600 $4,892 
Multifamily109 515 
Commercial real estate6,170 4,601 
Business1,234 1,448 
Consumer— 25 
Total nonaccrual loans$12,113 $11,481 
Loans Receivable, Credit Quality Indicators At June 30, 2022, and based on the most recent analysis performed in the current quarter, the risk category by class of loans is as follows:
$ in thousandsMultifamilyCommercial
Real Estate		Business
Credit Risk Profile by Internally Assigned Grade:   
Pass$151,425 $166,227 $144,449 
Special Mention778 720 6,245 
Substandard938 7,155 7,633 
Total$153,141 $174,102 $158,327 
One-to-four familyConsumer
Credit Risk Profile Based on Payment Activity:
Performing$62,647 $1,533 
Non-Performing5,647 — 
Total$68,294 $1,533 
    At March 31, 2022, the risk category by class of loans was as follows:
$ in thousandsMultifamilyCommercial Real EstateBusiness
Credit Risk Profile by Internally Assigned Grade:
Pass$155,274 $164,543 $155,196 
Special Mention897 8,157 6,302 
Substandard 6,090 2,613 8,533 
Total$162,261 $175,313 $170,031 
One-to-four familyConsumer
Credit Risk Profile Based on Payment Activity:
Performing$65,369 $1,613 
Non-Performing4,892 25 
Total$70,261 $1,638 
Past Due Financing Receivables The following table presents an aging analysis of the recorded investment of past due loans receivables at June 30, 2022 and March 31, 2022.
.
June 30, 2022
$ in thousands30-59 Days
Past Due		60-89 Days
Past Due		90 or More Days Past DueTotal Past
Due		CurrentTotal Loans
Receivables
One-to-four family$— $73 $3,995 $4,068 $64,226 $68,294 
Multifamily— — — — 153,141 153,141 
Commercial real estate— 1,110 1,608 2,718 171,384 174,102 
Business— — 703 703 157,624 158,327 
Consumer— 181 — 181 1,352 1,533 
Total$— $1,364 $6,306 $7,670 $547,727 $555,397 
March 31, 2022
$ in thousands30-59 Days
Past Due		60-89 Days
Past Due		90 or More Days Past DueTotal Past
Due		CurrentTotal Loans Receivables
One-to-four family$1,943 $— $5,229 $7,172 $63,089 $70,261 
Multifamily4,435 115 515 5,065 157,196 162,261 
Commercial real estate4,010 — 4,601 8,611 166,702 175,313 
Business923 40 664 1,627 168,404 170,031 
Consumer84 45 25 154 1,484 1,638 
Total$11,395 $200 $11,034 $22,629 $556,875 $579,504 
Impaired Loans The following table presents information on impaired loans with the associated allowance amount, if applicable, at June 30, 2022 and March 31, 2022.
At June 30, 2022
At March 31, 2022
$ in thousandsRecorded
Investment		Unpaid
Principal
Balance		Associated
Allowance		Recorded
Investment		Unpaid
Principal
Balance		Associated
Allowance
With no specific allowance recorded:
One-to-four family$5,202 $5,826 $— $4,892 $5,576 $— 
Multifamily109 112 — 515 515 — 
Commercial real estate6,170 6,240 — — — — 
Business1,234 1,542 — 837 909 — 
With an allowance recorded:
One-to-four family445 445 38 — — — 
Business5,164 5,164 77 5,203 5,203 69 
Total$18,324 $19,329 $115 $11,447 $12,203 $69 
    The following tables presents information on average balances of impaired loans and the interest income recognized on a cash basis for the three month periods ended June 30, 2022 and 2021.
For the Three Months Ended June 30,
2022
2021
$ in thousandsAverage BalanceInterest Income RecognizedAverage BalanceInterest Income Recognized
With no specific allowance recorded:
One-to-four family$5,047 $42 $3,742 $4 
Multifamily312 3 627 — 
Commercial real estate3,085 39 555 — 
Business1,036 8 2,286 — 
With an allowance recorded:
One-to-four family223 3 75 — 
Business5,184 72 5,403 76 
Total$14,887 $167 $12,688 $80 
Troubled Debt Restructuring The following table presents an analysis of the loan modification that was classified as a TDR during the three months ended June 30, 2022.
Loan Modifications for the three months ended
June 30, 2022
$ in thousandsNumber of loans
Recorded investment
at time of modification
One-to-four family2 $1,047