Loans (Tables)

6 Months Ended

Jun. 30, 2016

Receivables [Abstract]

Composition of Loan Portfolio By Type of Loan

At June 30, 2016, and December 31, 2015, there were no concentrations of loans exceeding 10% of total loans other than as disclosed below:

	June 30, 2016 Amount			June 30, 2016 Percent			December 31, 2015 Amount			December 31, 2015 Percent
	(Dollars in Thousands)
Real estate loans:
One-to-four family (closed end) first mortgages	$	145,859			25.7	%	$	145,999			26.0	%
Second mortgages (closed end)		1,661			0.3	%		1,771			0.3	%
Home equity lines of credit		33,063			5.8	%		33,644			6.0	%
Multi-family		31,289			5.5	%		24,725			4.4	%
Construction		36,923			6.5	%		34,878			6.2	%
Land		21,881			3.9	%		22,453			4.0	%
Farmland		45,593			8.0	%		42,246			7.5	%
Non-residential real estate		154,658			27.2	%		149,711			26.6	%
Total mortgage loans		470,927			82.9	%		455,427			81.0	%
Consumer loans		8,482			1.5	%		20,324			3.6	%
Commercial loans		88,258			15.6	%		86,743			15.4	%
Total other loans		96,740			17.1	%		107,067			19.0	%
Total loans, gross		567,667			100.0	%		562,494			100.0	%
Deferred loan cost, net of income		(384	)					(445	)
Less allowance for loan losses		(6,524	)					(5,700	)
Total loans	$	560,759					$	556,349

Non-accrual Loans

The following table indicates the type and level of non-accrual loans at the periods indicated below:

	June 30, 2016		December 31, 2015		June 30, 2015
	(Dollars in Thousands)
One-to-four family mortgages	$	469		2,234		1,456
Home equity line of credit		54		48		48
Multi-family		1,772		1,968		1,827
Land		8,281		1,553		1,982
Non-residential real estate		28		247		520
Farmland		—		166		209
Consumer loans		31		8		—
Commercial loans		888		1,198		1,014
Total non-accrual loans	$	11,523		7,422		7,056

Summary of Loans Past Due More than 90 Days and Still Accruing Interest

At June 30, 2016, the Company has the following loans past due more than 90 days and still accruing interest:

	June 30, 2016
	(Dollars in Thousands)
One-to-four family mortgages	$	283
Non-residential real estate		1,160
Land		1,236
Total loans past due more than 90 days and still accruing interest	$	2,679

Allowance for Loan Loss Account by Loan

The following table provides a detail of the Company’s activity in the allowance for loan loss account by loan type for the three month period ended June 30, 2016:

								General			Specific			Ending
	Balance		Charge off			Recovery		Provision			Provision			Balance
	12/31/2015		2016			2016		2016			2016			6/30/2016
	(Dollars in Thousands)
One-to-four family mortgages	$	1,030		—			161		149			(15	)		1,325
Home equity line of credit		201		(19	)		8		105			11			306
Junior liens		8		—			5		2			(5	)		10
Multi-family		227		—			—		63			(137	)		153
Construction		377		—			—		369			—			746
Land		1,379		—			—		(214	)		(69	)		1,096
Non-residential real estate		1,139		—			3		53			(31	)		1,164
Farmland		358		—			—		219			—			577
Consumer loans		358		(178	)		81		(196	)		98			163
Commercial loans		623		(252	)		92		442			79			984
	$	5,700		(449	)		350		992			(69	)		6,524

The following table provides a detail of the Company’s activity in the allowance for loan loss account by loan type for the year ended December 31, 2015:

								General			Specific			Ending
	Balance		Charge off			Recovery		Provision			Provision			Balance
	12/31/2014		2015			2015		2015			2015			12/31/2015
	(Dollars in Thousands)
One-to-four family mortgages	$	1,198		(143	)		39		(176	)		112			1,030
Home equity line of credit		181		(92	)		10		20			82			201
Junior liens		14		—			4		(6	)		(4	)		8
Multi-family		85		—			—		4			138			227
Construction		146		—			—		231			—			377
Land		1,123		(911	)		—		850			317			1,379
Non-residential real estate		2,083		(222	)		2		(944	)		220			1,139
Farmland		461		—			—		500			(603	)		358
Consumer loans		494		(298	)		118		(123	)		167			358
Commercial loans		504		(201	)		54		(61	)		327			623
	$	6,289		(1,867	)		227		295			756			5,700

Performing, Past Due and Adversely Classified Loan Balances by Loan Classification

The table below presents performing, past due and adversely classified loan balances at June 30, 2016, by loan classification:

	Currently Performing		30 - 89 Days Past Due		90 Days Plus Past Due and Still Accruing		Non-accrual Loans		Special Mention		Impaired Loans Currently Performing
											Substandard		Doubtful		Total
	(Dollars in Thousands)
One-to-four family mortgages	$	141,856		1,037		283		469		753		1,461		—	$	145,859
Home equity line of credit		32,594		173		—		54		21		221		—		33,063
Junior liens		1,616		—		—		—		33		12		—		1,661
Multi-family		26,460		—		—		1,772		—		3,057		—		31,289
Construction		36,923		—		—		—		—		—		—		36,923
Land		9,558		766		1,236		8,281		38		2,002		—		21,881
Farmland		43,808		701		—		—		—		1,084		—		45,593
Non-residential real estate		144,029		47		1,160		28		282		9,112		—		154,658
Consumer loans		8,207		22		—		31		—		222		—		8,482
Commercial loans		80,584		193		—		888		324		6,269		—		88,258
Total	$	525,635		2,939		2,679		11,523		1,451		23,440		—	$	567,667

The table below presents performing, past due and adversely classified loan balances at December 31, 2015, by loan classification:

	Currently Performing		30 -89 Days Past Due		Non-accrual Loans		Special Mention		Impaired Loans Currently Performing				Total
									Substandard		Doubtful
	(Dollars in Thousands)
One-to-four family mortgages	$	142,058		671		2,234		41		995		—	$	145,999
Home equity line of credit		33,396		79		48		—		121		—		33,644
Junior liens		1,720		—		—		35		16		—		1,771
Multi-family		21,638		6		1,968		—		1,113		—		24,725
Construction		34,878		—		—		—		—		—		34,878
Land		11,047		747		1,553		41		9,065		—		22,453
Non-residential real estate		138,637		228		247		2,489		8,110		—		149,711
Farmland		41,853		64		166		—		163		—		42,246
Consumer loans		20,108		15		8		—		193		—		20,324
Commercial loans		84,272		45		1,198		352		876		—		86,743
Total	$	529,607		1,855		7,422		2,958		20,652		—		562,494

Allowance for Loan Losses and Recorded Investment in Loans by Portfolio Segment and Impairment Method

The following table presents the balance in the allowance for loan losses and the recorded investment in loans as of June 30, 2016, and December 31, 2015, by portfolio segment and based on the impairment method as of June 30, 2016, and December 31, 2015.

			Land
			Development /		Commercial		Residential
	Commercial		Construction		Real Estate		Real Estate		Consumer		Total
	(Dollars in Thousands)
June 30, 2016:
Allowance for loan losses:
Ending allowance balance attributable to loans:
Individually evaluated for impairment	$	99		—		108		206		50		463
Collectively evaluated for impairment		885		1,842		1,786		1,435		113		6,061
Total ending allowance balance	$	984		1,842		1,894		1,641		163		6,524
Loans:
Loans individually evaluated for impairment	$	7,157		11,519		16,213		2,500		253		37,642
Loans collectively evaluated for impairment		81,101		47,285		215,327		178,083		8,229		530,025
Total ending loans balance	$	88,258		58,804		231,540		180,583		8,482		567,667

			Land
			Development /		Commercial		Residential
	Commercial		Construction		Real Estate		Real Estate		Consumer		Total
	(Dollars in Thousands)
December 31, 2015:
Allowance for loan losses:
Ending allowance balance attributable to loans:
Individually evaluated for impairment	$	180		69		272		60		49		630
Collectively evaluated for impairment		443		1,687		1,452		1,179		309		5,070
Total ending allowance balance	$	623		1,756		1,724		1,239		358		5,700
Loans:
Loans individually evaluated for impairment	$	2,074		10,618		11,767		3,414		201		28,074
Loans collectively evaluated for impairment		84,669		46,713		204,915		178,000		20,123		534,420
Total ending loans balance	$	86,743		57,331		216,682		181,414		20,324		562,494

Summary of Company's Impaired Loans, Including Respective Regulatory Classification and Respective Specific Reserve

A summary of the Company’s impaired loans, including their respective regulatory classification and their respective specific reserve at June 30, 2016, and December 31, 2015, were as follows:

	Pass		Special Mention		Impaired Loans				Total		Specific Allowance for Impairment		Allowance for Loans not Impaired
					Substandard		Doubful
	(Dollars in Thousands)
June 30, 2016
One-to-four family mortgages		142,893		753		2,213		—		145,859		206		1,119
Home equity line of credit		32,767		21		275		—		33,063		—		306
Junior liens		1,616		33		12		—		1,661		—		10
Multi-family		26,460		—		4,829		—		31,289		—		153
Construction		36,923		—		—		—		36,923		—		746
Land		10,324		38		11,519		—		21,881		—		1,096
Non-residential real estate		144,076		282		10,300		—		154,658		108		1,056
Farmland		44,509		—		1,084		—		45,593		—		577
Consumer loans		8,229		—		253		—		8,482		50		113
Commercial loans		80,777		324		7,157		—		88,258		99		885
Total		528,574		1,451		37,642		—		567,667		463		6,061
	Pass		Special Mention		Impaired Loans				Total		Specific Allowance for Impairment		Allowance for Loans not Impaired
					Substandard		Doubtful
	(Dollars in Thousands)
December 31, 2015
One-to-four family mortgages	$	142,729		41		3,229		—		145,999		60		970
Home equity line of credit		33,475		—		169		—		33,644		—		201
Junior lien		1,720		35		16		—		1,771		—		8
Multi-family		21,644		—		3,081		—		24,725		138		89
Construction		34,878		—		—		—		34,878		—		377
Land		11,794		41		10,618		—		22,453		69		1,310
Non-residential real estate		138,865		2,489		8,357		—		149,711		134		1,005
Farmland		41,917		—		329		—		42,246		—		358
Consumer loans		20,123		—		201		—		20,324		49		309
Commercial loans		84,317		352		2,074		—		86,743		180		443
Total	$	531,462		2,958		28,074		—		562,494		630		5,070

Impaired Loans by Classification Type

Impaired loans by classification type and the related valuation allowance amounts at June 30, 2016, were as follows:

Impaired loans with no recorded reserve

	At June 30, 2016						For the six month period ended June 30, 2016
	Recorded Investment		Unpaid Principal Balance		Related Allowance		Average Recorded Investment		Interest Income Recognized
	(Dollars in Thousands)
One-to-four family mortgages	$	1,660		1,660		—		1,760		35
Home equity line of credit		275		275		—		221		5
Junior liens		12		12		—		14		—
Multi-family		4,829		4,829		—		3,156		116
Construction		—		—		—		—		—
Land		11,519		12,476		—		10,107		14
Farmland		1,084		1,084		—		3,495		55
Non-residential real estate		9,589		9,589		—		4,801		244
Consumer loans		51		51		—		21		1
Commercial loans		6,124		6,124		—		1,708		98
Total		35,143		36,100		—		25,283		568
Impaired loans with a specific allowance:
One-to-four family mortgages		553		553		206		836		11
Home equity line of credit		—		—		—		—		—
Junior liens		—		—		—		—		—
Multi-family		—		—		—		942		—
Construction		—		—		—		—		—
Land		—		—		—		576		—
Farmland		—		—		—		—		—
Non-residential real estate		711		711		108		1,555		14
Consumer loans		202		202		50		225		—
Commercial loans		1,033		1,033		99		903		38
Total		2,499		2,499		463		5,037		63
Total impaired loans	$	37,642		38,599		463		30,320		631

Impaired loans by classification type and the related valuation allowance amounts at December 31, 2015, were as follows:

Impaired loans with no specific allowance

							For the year ended
	At December 31, 2015						December 31, 2015
	Recorded Investment		Unpaid Principal Balance		Related Allowance		Average Recorded Investment		Interest Income Recognized
	(Dollars in Thousands)
One-to-four family mortgages	$	2,526		2,526		—		2,389		80
Home equity line of credit		169		169		—		457		7
Junior liens		16		16		—		17		1
Multi-family		2,128		2,128		—		2,797		126
Construction		—		—		—		—		—
Land		10,038		10,998		—		8,520		671
Non-residential real estate		7,640		7,640		—		283		404
Farmland		329		329		—		7,774		19
Consumer loans		5		5		—		3		—
Commercial loans		1,274		1,274		—		1,599		73
Total		24,125		25,085		—		23,839		1,381
Impaired loans with a specific allowance
One-to-four family mortgages	$	703		703		60		709		40
Home equity line of credit		—		—		—		—		—
Junior liens		—		—		—		—		—
Multi-family		953		953		138		318		17
Construction		—		—		—		—		—
Land		580		580		69		1,707		46
Non-residential real estate		717		717		134		836		28
Farmland		—		—		—		—		—
Consumer loans		196		196		49		194		—
Commercial loans		800		800		180		514		15
Total		3,949		3,949		630		4,278		146
Total impaired loans	$	28,074		29,034		630		28,117		1,527

Summary of the Activity in Loans Classified as TDRs

A summary of the activity in loans classified as TDRs for the six month period ended June 30, 2016, is as follows:

	Balance at 12/31/15		New TDR		Loss or Foreclosure		Loan Amortization			Removed from (Taken to) Non-accrual		Balance at 06/30/16
	(Dollars in Thousands)
Multi-family real estate		—		816		—		—			—		816
Non-residential real estate	$	5,536		228		—		(43	)		—	$	5,721
Total performing TDR	$	5,536		1,044		—		(43	)		—	$	6,537

A summary of the activity in loans classified as TDRs for the twelve month period ended December 31, 2015, is as follows:

	Balance at		New		Loss or		Loan			Removed from (Taken to)		Balance at
	12/31/14		TDR		Foreclosure		Amortization			Non-accrual		12/31/15
	(Dollars in Thousands)
Non-residential real estate	$	3,284		2,265		—		(13	)		—	$	5,536
Total performing TDR	$	3,284		2,265		—		(13	)		—	$	5,536