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Note 6 - Loans Held for Sale
 6 Months Ended
Jun. 30, 2017
Notes to Financial Statements  
Loans Held for Sale [Text Block]
6.
             Loans held for sale
 
Loans held for sale are carried at the lower of cost or estimated fair value. The Bank had
$30.6
million in loans held for sale at
June 30, 2017.
The Bank did
not
have any loans held for sale at
December 31, 2016.
 
The Bank has implemented a strategy of selling certain delinquent and non-performing loans. Once the Bank 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. For delinquent and non-performing loan sales, terms of sale include cash due upon the closing of the sale,
no
contingencies or recourse to the Bank and servicing is released to the buyer.
 
The following tables show delinquent and non-performing loans sold during the period indicated:
 
    For the three months ended
    June 30, 2017
            Net (charge-offs)    
(Dollars in thousands)   Loans sold   Proceeds   recoveries   Net gain
                                 
Commercial real estate    
1
     $
335
     $
(4
 )   $
-
  
                                 
Total
(1)
    
1
     $
335
     $
(4
 )   $
-
  
 
    For the three months ended
    June 30, 2016
            Net (charge-offs)    
(Dollars in thousands)   Loans sold   Proceeds   recoveries   Net gain
                                 
Multi-family residential    
3
     $
1,174
     $
(8
 )   $
-
  
One-to-four family - mixed-use property    
3
      
1,271
      
-
      
3
  
                                 
Total    
6
     $
2,445
     $
(8
 )   $
3
  
 
    For the six months ended
    June 30, 2017
            Net (charge-offs)    
(Dollars in thousands)   Loans sold   Proceeds   recoveries   Net gain
                                 
One-to-four family - mixed-use property    
5
     $
1,790
     $
(33
 )   $
28
  
Commercial real estate    
1
      
335
      
(4
 )    
-
  
                                 
Total
(2)
    
6
     $
2,125
     $
(37
 )   $
28
  
 
    For the six months ended
    June 30, 2016
            Net (charge-offs)    
(Dollars in thousands)   Loans sold   Proceeds   recoveries   Net gain
                                 
Multi-family residential    
6
     $
2,049
     $
(8
 )   $
2
  
Commercial real estate    
2
      
192
      
-
      
-
  
One-to-four family - mixed-use property    
7
      
2,585
      
-
      
23
  
                                 
Total
(3)
    
15
     $
4,826
     $
(8
 )   $
25
  
 
(
1
)		 Does
not
include the sale of
four
performing Small Business Administration loans for proceeds totaling
$1.5
million, resulting in a net gain totaling
$69,000
and the sale of a participating interest in
seven
mortgage loans for proceeds totaling
$14.5
million, resulting in a net loss of
$35,000
during the
three
months ended
June 30, 2017.
 
(
2
)		 Does
not
include the sale of
seven
performing Small Business Administration loans for proceeds totaling
$4.9
million, resulting in a net gain totaling
$250,000
and the sale of a participating interest in
seven
mortgage loans for proceeds totaling
$14.5
million, resulting in a net loss of
$35,000
during the
six
months ended
June 30, 2017.
 
(
3
)		 Does
not
include the sale of
six
performing Small Business Administration loans for proceeds totaling
$3.5
million during the
six
months ended
June 30, 2016.
These loans were sold for a net gain of
$0.3
million.