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Note 6 - Loans Held for Sale | 6 Months Ended
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Jun. 30, 2018
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. At June 30, 2018 and December 31, 2017, the Bank did not have any 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 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. Additionally, at times the Company may sell participating interests in performing loans. The following tables show loans sold during the period indicated:
|  | For the three months ended June 30, 2018
(Dollars in thousands) |  | Loans sold |  | Proceeds |  | Net gain
Delinquent and non-performing loans |  |  |  |  |  |  |  |  |  |  |  |
Commercial real estate |  |  | 2 |  |  | $ | 2,065 |  |  | $ | 28 |
Total |  |  | 2 |  |  | $ | 2,065 |  |  | $ | 28 |
Performing loans |  |  |  |  |  |  |  |  |  |  |  |
Small Business Administration |  |  | 9 |  |  | $ | 5,671 |  |  | $ | 393 |
Total |  |  | 9 |  |  | $ | 5,671 |  |  | $ | 393 |
|  | For the three months ended June 30, 2017
(Dollars in thousands) |  | Loans sold |  | Proceeds |  | Net charge-offs |  | Net gain (loss)
Delinquent and non-performing loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial |  |  | 1 |  |  | $ | 335 |  |  | $ | (4 | ) |  | $ | - |
Total |  |  | 1 |  |  | $ | 335 |  |  | $ | (4 | ) |  | $ | - |
Performing loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Multi-family residential |  |  | 2 |  |  | $ | 6,080 |  |  | $ | - |  |  | $ | (14 | )
Commercial real estate |  |  | 5 |  |  |  | 8,451 |  |  |  | - |  |  |  | (21 | )
Small Business Administration |  |  | 4 |  |  |  | 1,519 |  |  |  | - |  |  |  | 69 |
Total |  |  | 11 |  |  | $ | 16,050 |  |  | $ | - |  |  | $ | 34 |
|  | For the six months ended June 30, 2018
(Dollars in thousands) |  | Loans sold |  | Proceeds |  | Net gain (loss)
Delinquent and non-performing loans |  |  |  |  |  |  |  |  |  |  |  |
Multi-family - residential |  |  | 3 |  |  | $ | 964 |  |  | $ | - |
Commercial real estate |  |  | 3 |  |  |  | 3,565 |  |  |  | (235 | )
Total |  |  | 6 |  |  | $ | 4,529 |  |  | $ | (235 | )
Performing loans |  |  |  |  |  |  |  |  |  |  |  |
Small Business Administration |  |  | 9 |  |  | $ | 5,671 |  |  | $ | 393 |
Total |  |  | 9 |  |  | $ | 5,671 |  |  | $ | 393 |
|  | For the six months ended June 30, 2017
(Dollars in thousands) |  | Loans sold |  | Proceeds |  | Net charge-offs |  | Net gain (loss)
Delinquent and non-performing loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
One-to-four family- residential |  |  | 5 |  |  | $ | 1,790 |  |  | $ | (33 | ) |  | $ | - |
Commercial real estate |  |  | 1 |  |  |  | 335 |  |  |  | (4 | ) |  |  | - |
Total |  |  | 6 |  |  | $ | 2,125 |  |  | $ | (37 | ) |  | $ | - |
Performing loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Multi-family residential |  |  | 2 |  |  | $ | 6,080 |  |  | $ | - |  |  | $ | (14 | )
Commercial real estate |  |  | 5 |  |  |  | 8,451 |  |  |  | - |  |  |  | (21 | )
Small Business Administration |  |  | 7 |  |  |  | 4,919 |  |  |  | - |  |  |  | 250 |
Total |  |  | 14 |  |  | $ | 19,450 |  |  | $ | - |  |  | $ | 216 |

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