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NET LOANS RECEIVABLE (Tables)

6 Months Ended

Dec. 31, 2020

NET LOANS RECEIVABLE

Schedule of net loans receivable

A summary of net loans receivable is as follows (dollars in thousands):

		December 31, 2020			June 30, 2020
Commercial:
Real estate		$	452,468		$	450,452
Commercial and industrial			192,393			237,223
Construction			94,817			91,805
Total commercial			739,678			779,480
Residential mortgages			287,176			279,960
Home equity loans and lines			77,068			80,345
Consumer			29,222			30,860
			1,133,144			1,170,645
Net deferred loan costs			1,726			605
Allowance for loan losses			(23,393)			(22,851)
Net loans receivable		$	1,111,477		$	1,148,399

Schedule of activity in allowance for loan losses by portfolio segment

The following tables present the activity in the allowance for loan losses by portfolio segment (dollars in thousands):

		For the Three Months Ended December 31, 2020
					Residential
		Commercial			Mortgages				Home Equity		Consumer			Total
Allowance for loan losses at beginning of period		$	18,334		$	3,475		$	1,313		$	487		$	23,609
Provisions charged to operations			1,272			177			25			76			1,550
Loans charged off			(1,558)			(108)			(51)			(84)			(1,801)
Recoveries on loans charged off			26			—			—			9			35
Allowance for loan losses at end of period		$	18,074		$	3,544		$	1,287		$	488		$	23,393

		For the Three Months Ended December 31, 2019
					Residential
		Commercial			Mortgages			Home Equity			Consumer			Total
Allowance for loan losses at beginning of period		$	11,408		$	2,379		$	850		$	362		$	14,999
Provisions charged to operations			1,353			73			18			76			1,520
Loans charged off			(1)			—			—			(33)			(34)
Recoveries on loans charged off			—			—			—			8			8
Allowance for loan losses at end of period		$	12,760		$	2,452		$	868		$	413		$	16,493

		For the Six Months Ended December 31, 2020
					Residential
		Commercial			Mortgages			Home Equity			Consumer			Total
Allowance for loan losses at beginning of period		$	17,570		$	3,484		$	1,303		$	494		$	22,851
Provisions charged to operations			2,003			168			35			94			2,300
Loans charged off			(1,558)			(108)			(51)			(110)			(1,827)
Recoveries on loans charged off			59			—			—			10			69
Allowance for loan losses at end of period		$	18,074		$	3,544		$	1,287		$	488		$	23,393

		For the Six Months Ended December 31, 2019
		(As Restated)
					Residential
		Commercial			Mortgages			Home Equity			Consumer			Total
Allowance for loan losses at beginning of period		$	11,057		$	2,360		$	813		$	269		$	14,499
Provisions charged to operations			1,708			111			54			217			2,090
Loans charged off			(5)			(19)			—			(90)			(114)
Recoveries on loans charged off			—			—			1			17			18
Allowance for loan losses at end of period		$	12,760		$	2,452		$	868		$	413		$	16,493

Schedule of balance in allowance for loan losses and recorded investment

The following tables present the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment and based on impairment method (dollars in thousands):

		December 31, 2020
					Residential
		Commercial			Mortgages			Home Equity			Consumer			Total
Allowance for loan losses:
Related to loans individually evaluated for impairment		$	1,679		$	—		$	—		$	—		$	1,679
Related to loans collectively evaluated for impairment			16,395			3,544		$	1,287		$	488			21,714
Ending balance		$	18,074		$	3,544		$	1,287		$	488		$	23,393
Loans:
Individually evaluated for impairment		$	8,260		$	—		$	—		$	—		$	8,260
Loans collectively evaluated for impairment			731,418			287,176			77,068			29,222			1,124,884
Ending balance		$	739,678		$	287,176		$	77,068		$	29,222		$	1,133,144

		June 30, 2020
					Residential
		Commercial			Mortgages				Home Equity		Consumer			Total
Allowance for loan losses:
Related to loans individually evaluated for impairment		$	929		$	—		$	—		$	—		$	929
Related to loans collectively evaluated for impairment			16,641			3,484			1,303			494			21,922
Ending balance		$	17,570		$	3,484		$	1,303		$	494		$	22,851
Loans:
Individually evaluated for impairment		$	8,407		$	—		$	—		$	—		$	8,407
Loans collectively evaluated for impairment			771,073			279,960			80,345			30,860			1,162,238
Ending balance		$	779,480		$	279,960		$	80,345		$	30,860		$	1,170,645

Schedule of impaired loans by class

The following tables present information related to impaired loans by class as of (dollars in thousands):

											For the Six Months Ended
		December 31, 2020									December 31, 2020
		Unpaid						Allowance for			Average			Interest
		Principal			Recorded			Loan Losses			Recorded			Income
		Balance			Investment			Allocated			Investment			Recognized
With no related allowance recorded:
Commercial:
Real estate		$	5,387		$	5,271		$	—		$	5,387		$	50
Commercial and industrial			46			42			—			46			—
Construction			—			—			—			—			—
Subtotal			5,433			5,313			—			5,433			50
With an allowance recorded:
Commercial:
Real estate			235			209			13			235			—
Commercial and industrial			1,434			1,419			836			1,434			35
Construction			1,319			1,319			830			1,319			—
Subtotal			2,988			2,947			1,679			2,988			35
Total		$	8,421		$	8,260		$	1,679		$	8,421		$	85

											For the Year Ended
		June 30, 2020									June 30, 2020
		Unpaid						Allowance for			Average			Interest
		Principal			Recorded			Loan Losses			Recorded			Income
		Balance			Investment			Allocated			Investment			Recognized
With no related allowance recorded:
Commercial:
Real estate		$	5,417		$	5,342		$	—		$	5,203		$	265
Commercial and industrial			46			42			—			46			—
Construction			1,319			1,319			—			1,320			—
Subtotal			6,782			6,703			—			6,569			265
With an allowance recorded:
Commercial:
Real estate			233			221			25			234			—
Commercial and industrial			1,494			1,483			904			1,513			88
Subtotal			1,727			1,704			929			1,747			88
Total		$	8,509		$	8,407		$	929		$	8,316		$	353

Schedule of recorded investment in nonaccrual and loans past due over 90 days still on accrual

The following table presents the recorded investment in nonaccrual and loans past due over 90 days still on accrual by class of loans (dollars in thousands):

		December 31,						June 30,
		2020						2020
					Past Due						Past Due
					90 Days						90 Days
					Still on						Still on
		Nonaccrual			Accrual			Nonaccrual			Accrual
Commercial:
Real estate		$	3,281		$	632		$	3,364		$	143
Commercial and industrial			1,261			30			95			1,455
Construction			1,319			—			1,319			—
Residential mortgages			5,104			—			4,807			—
Home equity loans and lines			2,177			14			1,865			—
Consumer			199			45			210			12
		$	13,341		$	721		$	11,660		$	1,610

Schedule of aging of recorded investment

The following tables present the aging of the recorded investment in loans by class of loans as of (dollars in thousands):

		December 31, 2020
		30 - 59			60 - 89			90 or more
		Days			Days			Days			Total			Loans Not
		Past Due			Past Due			Past Due			Past Due			Past Due			Total
Commercial:
Real estate		$	2,941		$	2,306		$	2,778		$	8,025		$	444,443		$	452,468
Commercial and industrial			5,818			1,649			72			7,539			184,854			192,393
Construction			169			617			1,319			2,105			92,712			94,817
Residential mortgages			989			522			2,531			4,042			283,134			287,176
Home equity loans and lines			892			337			1,691			2,920			74,148			77,068
Consumer			217			6			45			268			28,954			29,222
Total		$	11,026		$	5,437		$	8,436		$	24,899		$	1,108,245		$	1,133,144

		June 30, 2020
		30 - 59			60 - 89			90 or more
		Days			Days			Days			Total			Loans Not
		Past Due			Past Due			Past Due			Past Due			Past Due			Total
Commercial:
Real estate		$	23		$	211		$	2,270		$	2,504		$	447,948		$	450,452
Commercial and industrial			—			26			1,551			1,577			235,646			237,223
Construction			—			—			1,319			1,319			90,486			91,805
Residential mortgages			2,666			1,272			3,505			7,443			272,517			279,960
Home equity loans and lines			1,217			1,259			1,383			3,859			76,486			80,345
Consumer			39			4			12			55			30,805			30,860
Total		$	3,945		$	2,772		$	10,040		$	16,757		$	1,153,888		$	1,170,645

Commercial

NET LOANS RECEIVABLE

Schedule of loans by risk category

The following tables present commercial loans summarized by class of loans and the risk category (dollars in thousands):

		December 31, 2020
					Special
		Pass			Mention			Substandard			Doubtful			Total
Commercial
Real estate		$	406,840		$	29,213		$	16,415		$	—		$	452,468
Commercial and industrial			174,798			6,258			11,337			—			192,393
Construction			92,881			—			1,936			—			94,817
		$	674,519		$	35,471		$	29,688		$	—		$	739,678

		June 30, 2020
					Special
		Pass			Mention			Substandard			Doubtful			Total
Commercial
Real estate		$	433,948		$	106		$	16,398		$	—		$	450,452
Commercial and industrial			222,777			6,393			8,000			53			237,223
Construction			89,869			—			1,936			—			91,805
		$	746,594		$	6,499		$	26,334		$	53		$	779,480

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