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Loans (Tables)

12 Months Ended

Jun. 30, 2020

Loans [Abstract]

Major Loan Segments and Classes

Loan segments and classes at June 30, 2020 and 2019 are summarized as follows:

		At June 30,
(In thousands)		2020				2019
Residential real estate:
Residential real estate		$	279,332			$	267,802
Residential construction and land			11,847				7,462
Multi-family			25,104				24,592
Commercial real estate:
Commercial real estate			381,415				329,668
Commercial construction			74,920				36,361
Consumer loan:
Home equity			22,106				23,185
Consumer installment			4,817				5,481
Commercial loans			213,119				103,554
Total gross loans			1,012,660				798,105
Allowance for loan losses			(16,391	)			(13,200	)
Deferred (fees) and costs			(2,747	)			833
Loans receivable, net		$	993,522			$	785,738

PPP Loans by NAICS Industry Classifications

PPP loans by NAICS industry classifications at June 30, 2020 are detailed within the table below:

(dollars in thousands) NAICS Industry Classification		Balance				Number of Loans
Accommodation and Food Services		$	14,517				169
Administrative and Support and Waste Management and Remediation Services			2,041				44
Agriculture, Forestry, Fishing and Hunting			847				24
Arts, Entertainment, and Recreation			1,438				54
Construction			11,190				166
Educational Services			1,423				20
Finance and Insurance			3,044				35
Health Care and Social Assistance			15,030				99
Information			5,856				30
Manufacturing			6,934				51
Mining, Quarrying, and Oil and Gas Extraction			1,493				1
Other Services (except Public Administration)			8,589				136
Professional, Scientific, and Technical Services			11,383				192
Public Administration			649				8
Real Estate and Rental and Leasing			2,792				68
Retail Trade			7,639				113
Transportation and Warehousing			1,756				25
Utilities			108				2
Wholesale Trade			3,034				30
		$	99,763				1,267

Loan Balances by Internal Credit Quality Indicator

Loan balances by internal credit quality indicator as of June 30, 2020 are shown below.

(In thousands)		Performing				Watch				Special Mention				Substandard				Total
Residential real estate		$	274,973			$	626			$	996			$	2,737			$	279,332
Residential construction and land			11,847				-				-				-				11,847
Multi-family			23,336				-				1,645				123				25,104
Commercial real estate			364,884				-				13,189				3,342				381,415
Commercial construction			67,844				-				6,974				102				74,920
Home equity			21,466				-				-				640				22,106
Consumer installment			4,792				25				-				-				4,817
Commercial loans			210,031				50				2,675				363				213,119
Total gross loans		$	979,173			$	701			$	25,479			$	7,307			$	1,012,660

Loan balances by internal credit quality indicator as of June 30, 2019 are shown below.

(In thousands)		Performing				Watch				Special Mention				Substandard				Total
Residential real estate		$	264,138			$	874			$	86			$	2,704			$	267,802
Residential construction and land			7,462				-				-				-				7,462
Multi-family			22,544				137				1,835				76				24,592
Commercial real estate			318,703				616				7,435				2,914				329,668
Commercial construction			36,259				-				-				102				36,361
Home equity			22,392				20				-				773				23,185
Consumer installment			5,461				14				-				6				5,481
Commercial loans			102,103				261				1,082				108				103,554
Total gross loans		$	779,062			$	1,922			$	10,438			$	6,683			$	798,105

Loans Modified as Troubled Debt Restructuring

The table below detail loans that have been modified as a troubled debt restructuring during the year ended June 30, 2019.

(Dollars in thousands)		Number of Contracts				Pre-Modification Outstanding Recorded Investment				Post-Modification Outstanding Recorded Investment				Current Outstanding Recorded Investment
For the year ended June 30, 2019
Commercial loans			1			$	127			$	131			$	131
Residential			1				294				169				169

Loans that Have Payments Deferred

The following table details loans that have payments deferred as of June 30, 2020.

		Full Payment Deferral								Principal Payment Deferral								Total Deferral
(Dollars in thousands)		Balance				Number of Loans				Balance				Number of Loans				Balance				Number of Loans
Residential		$	31,373				172			$	17,664				109			$	49,037				281
Multi-family			8,264				10				4,226				7				12,490				17
Nonresidential			74,481				173				36,267				85				110,748				258
Commercial construction			339				1				-				-				339				1
Home equity			291				7				140				8				431				15
Consumer installment			116				10				133				17				250				27
Commercial loans			8,537				64				11,643				43				20,180				107
Total		$	123,401				437			$	70,073				269			$	193,474				706

Delinquent and/or Nonaccrual Loans by Past Due Status

The following table sets forth information regarding delinquent and/or nonaccrual loans as of June 30, 2020:

(In thousands)		30-59 days past due				60-89 days past due				90 days or more past due				Total past due				Current				Total Loans				Loans on Non-accrual
Residential real estate		$	871			$	345			$	1,691			$	2,907			$	276,425			$	279,332			$	2,513
Residential construction and land			-				-				-				-				11,847				11,847				-
Multi-family			-				-				151				151				24,953				25,104				151
Commercial real estate			393				189				374				956				380,459				381,415				781
Commercial construction			-				-				-				-				74,920				74,920				-
Home equity			29				-				238				267				21,839				22,106				319
Consumer installment			36				25				-				61				4,756				4,817				-
Commercial loans			48				72				245				365				212,754				213,119				313
Total gross loans		$	1,377			$	631			$	2,699			$	4,707			$	1,007,953			$	1,012,660			$	4,077

The following table sets forth information regarding delinquent and/or nonaccrual loans as of June 30, 2019:

(In thousands)		30-59 days past due				60-89 days past due				90 days or more past due				Total past due				Current				Total Loans				Loans on Non- accrual
Residential real estate		$	2,144			$	870			$	1,385			$	4,399			$	263,403			$	267,802			$	2,474
Residential construction and land			-				-				-				-				7,462				7,462				-
Multi-family			1				137				-				138				24,454				24,592				-
Commercial real estate			280				1,108				102				1,490				328,178				329,668				598
Commercial construction			-				-				-				-				36,361				36,361				-
Home equity			16				136				309				461				22,724				23,185				452
Consumer installment			32				14				6				52				5,429				5,481				6
Commercial loans			430				342				28				800				102,754				103,554				108
Total gross loans		$	2,903			$	2,607			$	1,830			$	7,340			$	790,765			$	798,105			$	3,638

Nonaccrual Loans, Interest Income Data

The table below details additional information related to nonaccrual loans:

(In thousands)		2020				2019
Interest income that would have been recorded if loans had been performing in accordance with original terms		$	296			$	257
Interest income that was recorded on nonaccrual loans			193				146

Impaired Loans by Loan Portfolio Class

The tables below detail additional information on impaired loans at the date or periods indicated:

		As of June 30, 2020												For the year ended June 30, 2020
(In thousands)		Recorded Investment				Unpaid Principal				Related Allowance				Average Recorded Investment				Interest Income Recognized
With no related allowance recorded:
Residential real estate		$	868			$	868			$	-			$	719			$	70
Multi-family			123				123				-				42				-
Commercial real estate			344				344				-				499				14
Home equity			128				128				-				168				-
Commercial loans			145				145				-				137				1
Impaired loans with no allowance			1,608				1,608				-				1,565				85
With an allowance recorded:
Residential real estate			995				995				127				1,184				47
Multi-family			-				-				-				54				1
Commercial real estate			-				-				-				26				3
Commercial construction			102				102				15				102				-
Home equity			431				431				73				418				24
Commercial Loans			134				134				13				147				9
Impaired loans with allowance			1,662				1,662				228				1,931				84
Total impaired:
Residential real estate			1,863				1,863				127				1,903				117
Multi-family			123				123				-				96				1
Commercial real estate			344				344				-				525				17
Commercial construction			102				102				15				102				-
Home equity			559				559				73				586				24
Commercial loans			279				279				13				284				10
Total impaired loans		$	3,270			$	3,270			$	228			$	3,496			$	169

		As of June 30, 2019												For the year ended June 30, 2019
(In thousands)		Recorded Investment				Unpaid Principal				Related Allowance				Average Recorded Investment				Interest Income Recognized
With no related allowance recorded:
Residential real estate		$	727			$	727			$	-			$	170			$	20
Commercial real estate			717				717				-				915				57
Commercial Construction			-				-				-				34				-
Home equity			309				309				-				288				-
Commercial loans			141				141				-				150				-
Impaired loans with no allowance			1,894				1,894				-				1,557				77
With an allowance recorded:
Residential real estate			1,420				1,420				188				1,809				61
Commercial real estate			-				-				-				91				-
Commercial construction			102				102				2				111				-
Home equity			348				348				59				338				19
Commercial Loans			130				130				13				76				3
Impaired loans with allowance			2,000				2,000				262				2,425				83
Total impaired loans:
Residential real estate			2,147				2,147				188				1,979				81
Commercial real estate			717				717				-				1,006				57
Commercial construction			102				102				2				145				-
Home equity			657				657				59				626				19
Commercial loans			271				271				13				226				3
Total impaired loans		$	3,894			$	3,894			$	262			$	3,982			$	160

Activity and Allocation of Allowance for Loan Losses

The following tables set forth the activity and allocation of the allowance for loan losses by loan class during and at the periods indicated.  The allowance is allocated to each loan class based on historical loss experience, current economic conditions, and other considerations.

		Activity for the year ended June 30, 2020
(In thousands)		Balance June 30, 2019				Charge-offs				Recoveries				Provision				Balance June 30, 2020
Residential real estate		$	2,026			$	102			$	16			$	151			$	2,091
Residential construction and land			87				-				-				54				141
Multi-family			180				-				-				(4	)			176
Commercial real estate			7,110				-				-				1,524				8,634
Commercial construction			872				-				-				1,181				2,053
Home equity			314				-				-				(19	)			295
Consumer installment			250				459				130				276				197
Commercial loans			2,361				335				36				742				2,804
Total		$	13,200			$	896			$	182			$	3,905			$	16,391

		Activity for the year ended June 30, 2019
(In thousands)		Balance June 30, 2018				Charge-offs				Recoveries				Provision				Balance June 30, 2019
Residential real estate		$	2,116			$	287			$	13			$	184			$	2,026
Residential construction and land			114				-				-				(27	)			87
Multi-family			162				-				-				18				180
Commercial real estate			5,979				74				-				1,205				7,110
Commercial construction			950				-				-				(78	)			872
Home equity			317				-				-				(3	)			314
Consumer installment			224				374				137				263				250
Commercial loans			2,128				51				153				131				2,361
Unallocated			34				-				-				(34	)			-
Total		$	12,024			$	786			$	303			$	1,659			$	13,200

		Allowance for Loan Losses								Loans Receivable
		Ending Balance June 30, 2020 Impairment Analysis								Ending Balance June 30, 2020 Impairment Analysis
(In thousands)		Individually Evaluated				Collectively Evaluated				Individually Evaluated				Collectively Evaluated
Residential real estate		$	127			$	1,964			$	1,863			$	277,469
Residential construction and land			-				141				-				11,847
Multi-family			-				176				123				24,981
Commercial real estate			-				8,634				344				381,071
Commercial construction			15				2,038				102				74,818
Home equity			73				222				559				21,547
Consumer installment			-				197				-				4,817
Commercial loans			13				2,791				279				212,840
Total		$	228			$	16,163			$	3,270			$	1,009,390

		Allowance for Loan Losses								Loans Receivable
		Ending Balance June 30, 2019 Impairment Analysis								Ending Balance June 30, 2019 Impairment Analysis
(In thousands)		Individually Evaluated				Collectively Evaluated				Individually Evaluated				Collectively Evaluated
Residential real estate		$	188			$	1,838			$	2,147			$	265,655
Residential construction and land			-				87				-				7,462
Multi-family			-				180				-				24,592
Commercial real estate			-				7,110				717				328,951
Commercial construction			2				870				102				36,259
Home equity			59				255				657				22,528
Consumer installment			-				250				-				5,481
Commercial loans			13				2,348				271				103,283
Total		$	262			$	12,938			$	3,894			$	794,211

Foreclosed Real Estate

The following table sets forth information regarding FRE as of June 30, 2020 and 2019:

(in thousands)		2020				2019
Residential real estate		$	-			$	53
Total foreclosed real estate		$	-			$	53

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