NET LOANS RECEIVABLE

Schedule of activity in allowance for credit losses by portfolio segment

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


	For the Three Months Ended December 31, 2023
	Beginning								Ending
	Balance		Provisions		Charge-offs		Recoveries		Balance
Commercial	$	13,181	$	(178)	$	(345)	$	16	$	12,674
Residential mortgages		6,191		779		—		—		6,970
Home equity loans and lines of credit		1,282		56		—		1		1,339
Consumer		415		2		(46)		8		379
Allowance for credit losses - loans		21,069		659		(391)		25		21,362
Allowance for credit losses - off-balance sheet credit exposures		1,458		223		—		—		1,681
Total allowance for credit losses	$	22,527	$	882	$	(391)	$	25	$	23,043


	For the Three Months Ended December 31, 2022
			Residential
	Commercial		Mortgages		Home Equity		Consumer		Total
Allowance for loan losses at beginning of period	$	17,053	$	3,737	$	1,358	$	422	$	22,570
Provisions charged to operations		(1,353)		765		101		87		(400)
Loans charged off		(7)		—		—		(30)		(37)
Recoveries on loans charged off		10		31		14		4		59
Allowance for loan losses at end of period	$	15,703	$	4,533	$	1,473	$	483	$	22,192


	For the Six Months Ended December 31, 2023
			Cumulative Effect
	Beginning		Adjustment for the								Ending
	Balance		Adoption of ASU 2016-13		Provisions		Charge-offs		Recoveries		Balance
Commercial	$	14,288	$	(1,307)	$	(5)	$	(345)	$	43	$	12,674
Residential mortgages		6,222		(670)		1,418		—		—		6,970
Home equity loans and lines of credit		1,470		(265)		145		(12)		1		1,339
Consumer		489		(69)		17		(69)		11		379
Allowance for credit losses - loans		22,469		(2,311)		1,575		(426)		55		21,362
Allowance for credit losses - off-balance sheet credit exposures		—		1,624		57		—		—		1,681
Total allowance for credit losses	$	22,469	$	(687)	$	1,632	$	(426)	$	55	$	23,043


	For the Six Months Ended December 31, 2022
			Residential
	Commercial		Mortgages		Home Equity		Consumer		Total
Allowance for loan losses at beginning of period	$	17,818	$	2,899	$	1,388	$	419	$	22,524
Provisions charged to operations		(2,126)		1,616		71		159		(280)
Loans charged off		(42)		(24)		—		(101)		(167)
Recoveries on loans charged off		53		42		14		6		115
Allowance for loan losses at end of period	$	15,703	$	4,533	$	1,473	$	483	$	22,192

Schedule of impaired loans by class

The following table presents information related to impaired loans by class (dollars in thousands):


							For the Year Ended
	June 30, 2023						June 30, 2023
	Unpaid				Allowance for		Average		Interest
	Principal		Recorded		Loan Losses		Recorded		Income
	Balance		Investment		Allocated		Investment		Recognized
With no related allowance recorded:
Commercial:
Real estate	$	10,241	$	10,213	$	—	$	10,538	$	133
Commercial and industrial		—		—		—		—		—
Construction		—		—		—		—		—
Subtotal		10,241		10,213		—		10,538		133
With an allowance recorded:
Commercial:
Real estate		681		681		142		699		35
Commercial and industrial		650		650		650		575		—
Construction		—		—		—		—		—
Subtotal		1,331		1,331		792		1,274		35
Total	$	11,572	$	11,544	$	792	$	11,812	$	168

Schedule of loans considered collateral dependent

The following table presents the amortized cost basis of collateral-dependent loans by class of loans (dollars in thousands):


	December 31, 2023
	Amortized Cost		Collateral Type
Commercial:
Real estate	$	9,182	Commercial Real Estate Property
Commercial and industrial		199	Business Assets
Construction		—
Residential mortgages		—
Home equity loans and lines		—
Consumer		—
	$	9,381

Schedule of loans by risk category

The following table presents loans summarized by segment and class, and the risk category (dollars in thousands):


													Revolving		Revolving
													Loans		Loans
		Term Loans Amortized Cost Basis by Origination Year											Amortized		Converted
December 31, 2023	2024		2023		2022		2021		2020		Prior		Cost Basis		to Term		Total
Commercial real estate
Risk Rating
Pass	$	5,326	$	45,278	$	51,827	$	24,146	$	52,826	$	178,481	$	2,629	$	—	$	360,513
Special mention		—		—		—		—		16,641		8,045		—		—		24,686
Substandard		—		—		—		—		2,942		22,539		562		—		26,043
Doubtful		—		—		—		—		—		—		—		—		—
Total commercial real estate	$	5,326	$	45,278	$	51,827	$	24,146	$	72,409	$	209,065	$	3,191	$	—	$	411,242

Current period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Commercial and industrial
Risk Rating
Pass	$	7,042	$	8,111	$	5,434	$	3,444	$	4,680	$	8,831	$	47,370	$	—	$	84,912
Special mention		—		—		—		—		1,250		—		672		—		1,922
Substandard		—		—		1,234		152		78		3,132		—		—		4,596
Doubtful		—		—		—		—		—		30		199		—		229
Total commercial and industrial	$	7,042	$	8,111	$	6,668	$	3,596	$	6,008	$	11,993	$	48,241	$	—	$	91,659

Current period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	345	$	—	$	—	$	345

Commercial construction
Risk Rating
Pass	$	13,319	$	15,796	$	47,585	$	20,936	$	—	$	6,435	$	2,576	$	—	$	106,647
Special mention		—		—		—		—		—		—		—		—		—
Substandard		—		—		—		—		—		—		—		—		—
Doubtful		—		—		—		—		—		—		—		—		—
Total commercial construction	$	13,319	$	15,796	$	47,585	$	20,936	$	—	$	6,435	$	2,576	$	—	$	106,647

Current period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Residential mortgages
Performing	$	95,375	$	213,264	$	44,192	$	58,615	$	35,330	$	117,751	$	112	$	—	$	564,639
Non-performing		—		257		560		—		599		2,461		—		—		3,877
Total residential mortgages	$	95,375	$	213,521	$	44,752	$	58,615	$	35,929	$	120,212	$	112	$	—	$	568,516

Current period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Home equity loans and lines of credit
Performing	$	4,270	$	7,111	$	10,048	$	3,789	$	1,458	$	14,637	$	49,548	$	—	$	90,861
Non-performing		—		—		—		—		—		669		896		—		1,565
Total home equity loans and lines of credit	$	4,270	$	7,111	$	10,048	$	3,789	$	1,458	$	15,306	$	50,444	$	—	$	92,426

Current period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	12	$	—	$	12

Consumer
Performing	$	973	$	1,700	$	131	$	107	$	39	$	3,350	$	8,359	$	—	$	14,659
Non-performing		—		—		—		—		—		—		—		—		—
Total consumer	$	973	$	1,700	$	131	$	107	$	39	$	3,350	$	8,359	$	—	$	14,659

Current period gross charge-offs	$	47	$	—	$	21	$	—	$	1	$	—	$	—	$	—	$	69

NET LOANS RECEIVABLE