Note 6 - Loans held for sale

6 Months Ended

Jun. 30, 2013

Loans Held For Sale [Abstract]

Loans Held For Sale [Text Block]

6. Loans held for sale

The following table shows our loans held for sale at the lower of cost or estimated fair value for the periods indicated:

	June 30, 2013				December 31, 2012
(Dollars in thousands)	Number of loans		Carrying Value		Number of loans		Carrying Value
Multi-family residential		-	$	-		4	$	3,442
One-to-four family - mixed-use property		1		335		4		1,871
Total		1	$	335		8	$	5,313

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 closes 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 three months ended June 30, 2013
(Dollars in thousands)	Loans sold		Proceeds		Net charge-offs			Net gain (loss)
Multi-family residential		9	$	2,447	$	(468	)	$	-
Commercial real estate		5		2,349		(18	)		-
One-to-four family - mixed-use property		24		5,589		(70	)		-
Total		38	$	10,385	$	(556	)	$	-

The above table does not include the sale of one performing commercial real estate loan for $2.4 million, resulting in a net gain of $184,000 during the three months ended June 30, 2013.

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

	For the three months ended June 30, 2012
(Dollars in thousands)	Loans sold		Proceeds		Net charge-offs			Net gain (loss)
Multi-family residential		6	$	3,103	$	(207	)	$	31
Commercial real estate		3		2,191		(117	)		-
One-to-four family - mixed-use property		5		2,163		(398	)		-
Commercial business and other		1		499		-			8
Total		15	$	7,956	$	(722	)	$	39

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

	For the six months ended June 30, 2013
(Dollars in thousands)	Loans sold		Proceeds		Net charge-offs			Net gain (loss)
Multi-family residential		15	$	7,059	$	(576	)	$	6
Commercial real estate		7		3,464		(94	)		-
One-to-four family - mixed-use property		30		7,961		(110	)		(15	)
Commercial business and other		2		66		(185	)		-
Total		54	$	18,550	$	(965	)	$	(9	)

The above table does not include the sale of one performing commercial real estate loan for $2.4 million, resulting in a net gain of $184,000 during the six months ended June 30, 2013.

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

	For the six months ended June 30, 2012
(Dollars in thousands)	Loans sold		Proceeds		Net charge-offs			Net gain (loss)
Multi-family residential		12	$	7,071	$	(388	)	$	31
Commercial real estate		6		3,869		(368	)		-
One-to-four family - mixed-use property		9		3,443		(798	)		-
Construction		3		2,540		(57	)		-
Commercial business and other		2		714		(136	)		8
Total		32	$	17,637	$	(1,747	)	$	39