Note 4 - Loans held for sale

12 Months Ended

Dec. 31, 2012

Loans Held For Sale [Text Block]

4. Loans held for sale

The Company has implemented a strategy of selling certain delinquent and non-performing loans. Once the Company has decided to sell a loan, the sale usually will close in a short period of time, generally within the same quarter.  Loans designated held for sale are reclassified from loans held for investment to loans held for sale. Terms of sale include cash due upon the closing of the sale, no contingencies or recourse to the Company and servicing is released to the buyer.

The following table shows delinquent and non-performing loans sold during the period indicated:

	For the year ended December 31, 2012
(Dollars in thousands)	Loans sold		Proceeds		Net charge-offs			Net gain (loss)
Multi-family residential		34	$	21,429	$	(2,974	)	$	(46	)
Commercial real estate		11		5,869		(572	)		-
One-to-four family - mixed-use property		25		8,270		(1,927	)		-
Construction		3		2,540		(57	)		-
Commercial business and other		4		6,115		(136	)		8
Total		77	$	44,223	$	(5,666	)	$	(38	)

The above table does not include $0.7 million of performing Small Business Administration loans that were sold for a net gain of $60,000 during the year ended December 31, 2012.

The following table shows delinquent and non-performing loans sold during the period indicated:

	For the year ended December 31, 2011
(Dollars in thousands)	Loans sold		Proceeds		Net charge-offs			Net gain (loss)
Multi-family residential		26	$	15,243	$	(2,767	)	$	166
Commercial real estate		4		5,225		(367	)		-
One-to-four family - mixed-use property		10		3,067		(514	)		-
Construction		2		4,039		(3	)		-
Commercial business and other		2		243		-			1
Total		44	$	27,817	$	(3,651	)	$	167

The above table does not include $3.9 million of performing Small Business Administration loans that were sold for a net gain of $344,000 during the year ended December 31, 2011.

The following table shows delinquent and non-performing loans sold during the period indicated:

	For the year ended December 31, 2010
(Dollars in thousands)	Loans sold		Proceeds		Net charge-offs			Net gain (loss)
Multi-family residential		7	$	3,031	$	(154	)	$	15
Commercial real estate		2		2,231		(408	)		-
One-to-four family - mixed-use property		9		2,927		(74	)		2
One-to-four family - residential		1		205		(25	)		-
Construction		1		860		-			-
Total		20	$	9,254	$	(661	)	$	17