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Loans Receivable And Allowance For Loan Losses (Tables)

3 Months Ended

Dec. 31, 2015

Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]

Schedule of Loans receivable and Loans held for sale

Loans receivable and loans held for sale by portfolio segment consisted of the following at December 31, 2015 and September 30, 2015 (dollars in thousands):

	December 31, 2015							September 30, 2015
	Amount				Percent			Amount				Percent
Mortgage loans:
One- to four-family (1)	$	118,507			17.3	%		$	119,715			17.8	%
Multi-family	47,980				7.0			52,322				7.8
Commercial	295,595				43.1			291,216				43.3
Construction - custom and owner/builder	67,861				9.9			62,954				9.3
Construction - speculative one- to four-family	6,199				0.9			6,668				1.0
Construction - commercial	22,213				3.2			20,728				3.1
Construction - multi-family	20,570				3.0			20,570				3.1
Land	25,258				3.7			26,140				3.9
Total mortgage loans	604,183				88.1			600,313				89.3
Consumer loans:
Home equity and second mortgage	36,057				5.3			34,157				5.0
Other	4,387				0.6			4,669				0.7
Total consumer loans	40,444				5.9			38,826				5.7
Commercial business loans	40,886				6.0			33,763				5.0
Total loans receivable	685,513				100.0	%		672,902				100.0	%
Less:
Undisbursed portion of construction  loans in process	(47,596		)					(53,457		)
Deferred loan origination fees	(2,183		)					(2,193		)
Allowance for loan losses	(9,889		)					(9,924		)
Total loans receivable, net	$	625,845						$	607,328

________________________

(1)    Includes loans held for sale.

Schedule of Composition of Construction and Land Development Loan Portfolio

Schedule of Allowance for Loan Losses

The following tables set forth information for the three months ended December 31, 2015 and 2014 regarding activity in the allowance for loan losses by portfolio segment (dollars in thousands):

	Three Months Ended December 31, 2015
	Beginning Allowance				Provision for /(Recapture of)				Charge- offs				Recoveries				Ending Allowance
Mortgage loans:
One-to four-family	$	1,480			$	(37	)		$	26			$	3			$	1,420
Multi-family	392				(19		)		—				—				373
Commercial	4,065				(140		)		27				—				3,898
Construction – custom and owner/builder	451				104				—				—				555
Construction – speculative one- to four-family	123				(1		)		—				—				122
Construction – commercial	426				60				—				—				486
Construction – multi-family	283				22				—				31				336
Land	1,021				(96		)		8				6				923
Consumer loans:
Home equity and second mortgage	1,073				42				13				—				1,102
Other	187				(24		)		3				1				161
Commercial business loans	423				89				—				1				513
Total	$	9,924			$	—			$	77			$	42			$	9,889

	Three Months Ended December 31, 2014
	Beginning Allowance				Provision for /(Recapture of)				Charge- offs				Recoveries				Ending Allowance
Mortgage loans:
One-to four-family	$	1,650			$	(47	)		$	118			$	19			$	1,504
Multi-family	387				(19)				—				—				368
Commercial	4,836				(1,190)				—				—				3,646
Construction – custom and owner/builder	450				10				—				—				460
Construction – speculative one- to four-family	52				(2)				—				—				50
Construction – commercial	78				(50)				—				—				28
Construction – multi-family	25				50				—				—				75
Land	1,434				1,379				4				8				2,817
Consumer loans:
Home equity and second mortgage	879				(67)				11				—				801
Other	176				(17)				1				1				159
Commercial business loans	460				(47)				—				1				414
Total	$	10,427			$	—			$	134			$	29			$	10,322

Schedule of loans evaluated individually for impairment and collectively evaluated for impairment in the allowance for loan losses

The following tables present information on the loans evaluated individually and collectively for impairment in the allowance for loan losses by portfolio segment at December 31, 2015 and September 30, 2015 (dollars in thousands):

	Allowance for Loan Losses												Recorded Investment in Loans
	Individually Evaluated for Impairment				Collectively Evaluated for Impairment				Total				Individually Evaluated for Impairment				Collectively Evaluated for Impairment				Total
December 31, 2015
Mortgage loans:
One- to four-family	$	243			$	1,177			$	1,420			$	4,265			$	114,242			$	118,507
Multi-family	—				373				373				—				47,980				47,980
Commercial	181				3,717				3,898				12,109				283,486				295,595
Construction – custom and owner/builder	—				555				555				—				41,107				41,107
Construction – speculative one- to four-family	—				122				122				—				3,790				3,790
Construction – commercial	—				486				486				—				13,955				13,955
Construction –  multi-family	—				336				336				—				10,395				10,395
Land	25				898				923				1,286				23,972				25,258
Consumer loans:
Home equity and second mortgage	361				741				1,102				905				35,152				36,057
Other	23				138				161				34				4,353				4,387
Commercial business loans	—				513				513				73				40,813				40,886
Total	$	833			$	9,056			$	9,889			$	18,672			$	619,245			$	637,917
September 30, 2015
Mortgage loans:
One- to four-family	$	307			$	1,173			$	1,480			$	4,291			$	115,424			$	119,715
Multi-family	16				376				392				4,037				48,285				52,322
Commercial	265				3,800				4,065				12,852				278,364				291,216
Construction – custom and owner/builder	—				451				451				—				36,192				36,192
Construction – speculative one- to four-family	—				123				123				—				3,781				3,781
Construction – commercial	—				426				426				—				12,200				12,200
Construction – multi-family	—				283				283				—				5,290				5,290
Land	37				984				1,021				2,305				23,835				26,140
Consumer loans:
Home equity and second mortgage	362				711				1,073				910				33,247				34,157
Other	24				163				187				36				4,633				4,669
Commercial business loans	—				423				423				—				33,763				33,763
Total	$	1,011			$	8,913			$	9,924			$	24,431			$	595,014			$	619,445

Financing Receivable Credit Quality Indicators

The following table lists the loan credit risk grades utilized by the Company that serve as credit quality indicators by portfolio segment at December 31, 2015 and September 30, 2015 (dollars in thousands):

	Loan Grades
December 31, 2015	Pass				Watch				Special Mention				Substandard				Total
Mortgage loans:
One- to four-family	$	113,704			$	223			$	982			$	3,598			$	118,507
Multi-family	44,966				—				3,014				—				47,980
Commercial	275,732				8,313				5,728				5,822				295,595
Construction – custom and owner/builder	40,920				—				—				187				41,107
Construction – speculative one- to four-family	3,790				—				—				—				3,790
Construction – commercial	13,955				—				—				—				13,955
Construction – multi-family	10,395				—				—				—				10,395
Land	21,342				1,065				1,873				978				25,258
Consumer loans:
Home equity and second mortgage	33,776				663				402				1,216				36,057
Other	4,353				—				—				34				4,387
Commercial business loans	40,766				47				—				73				40,886
Total	$	603,699			$	10,311			$	11,999			$	11,908			$	637,917
September 30, 2015
Mortgage loans:
One- to four-family	$	114,402			$	653			$	1,339			$	3,321			$	119,715
Multi-family	45,249				—				6,313				760				52,322
Commercial	270,685				8,040				6,803				5,688				291,216
Construction – custom and owner/builder	36,192				—				—				—				36,192
Construction – speculative one- to four-family	3,781				—				—				—				3,781
Construction – commercial	12,200				—				—				—				12,200
Construction – multi-family	5,290				—				—				—				5,290
Land	20,964				1,105				2,078				1,993				26,140
Consumer loans:
Home equity and second mortgage	32,172				664				404				917				34,157
Other	4,631				—				—				38				4,669
Commercial business loans	33,635				49				79				—				33,763
Total	$	579,201			$	10,511			$	17,016			$	12,717			$	619,445

Past Due Status of Loans Receivable

The following tables present an age analysis of past due status of loans by portfolio segment at December 31, 2015 and September 30, 2015 (dollars in thousands):

	30–59 Days Past Due				60-89 Days Past Due				Non- Accrual (1)				Past Due 90 Days or More and Still Accruing				Total Past Due				Current				Total Loans
December 31, 2015
Mortgage loans:
One- to four-family	$	30			$	264			$	2,694			$	—			$	2,988			$	115,519			$	118,507
Multi-family	—				—				—				—				—				47,980				47,980
Commercial	—				—				1,184				—				1,184				294,411				295,595
Construction – custom and owner/builder	—				—				—				—				—				41,107				41,107
Construction – speculative one- to four- family	—				—				—				—				—				3,790				3,790
Construction – commercial	—				—				—				—				—				13,955				13,955
Construction – multi-family	—				—				—				—				—				10,395				10,395
Land	16				—				546				—				562				24,696				25,258
Consumer loans:
Home equity and second mortgage	54				—				300				285				639				35,418				36,057
Other	—				—				34				—				34				4,353				4,387
Commercial business loans	—				—				73				—				73				40,813				40,886
Total	$	100			$	264			$	4,831			$	285			$	5,480			$	632,437			$	637,917
September 30, 2015
Mortgage loans:
One- to four-family	$	—			$	425			$	2,368			$	—			$	2,793			$	116,922			$	119,715
Multi-family	—				—				760				—				760				51,562				52,322
Commercial	—				—				1,016				—				1,016				290,200				291,216
Construction – custom and owner/        builder	—				345				—				—				345				35,847				36,192
Construction – speculative one- to four- family	—				—				—				—				—				3,781				3,781
Construction – commercial	—				—				—				—				—				12,200				12,200
Construction – multi-family	—				—				—				—				—				5,290				5,290
Land	15				32				1,558				—				1,605				24,535				26,140
Consumer loans:
Home equity and second mortgage	146				14				303				151				614				33,543				34,157
Other	—				—				35				—				35				4,634				4,669
Commercial business loans	—				—				—				—				—				33,763				33,763
Total	$	161			$	816			$	6,040			$	151			$	7,168			$	612,277			$	619,445

Impaired Loans Receivable

ollowing table is a summary of information related to impaired loans by portfolio segment as of December 31, 2015 and for the three months then ended (dollars in thousands):

	Recorded Investment				Unpaid Principal Balance (Loan Balance Plus Charge Off)				Related Allowance				YTD Average Recorded Investment (1)				YTD Interest Income Recognized (1)				YTD Cash Basis Interest Income Recognized (1)
With no related allowance recorded:
Mortgage loans:
One- to four-family	$	1,903			$	2,148			$	—			$	1,615			$	12			$	12
Multi-family	—				—				—				380				—				—
Commercial	8,126				9,214				—				7,662				122				96
Land	696				1,119				—				1,155				4				3
Consumer loans:
Home equity and second mortgage	165				382				—				166				—				—
Commercial business loans	73				78				—				37				—				—
Subtotal	10,963				12,941				—				11,015				138				111
With an allowance recorded:
Mortgage loans:
One- to four-family	2,362				—				243				2,666				32				24
Multi-family	—				—				—				1,639				—				—
Commercial	3,983				—				181				4,818				55				43
Land	590				—				25				641				10				8
Consumer loans:
Home equity and second mortgage	740				—				361				743				10				9
Other	34				—				23				35				—				—
Subtotal	7,709				—				833				10,542				107				84
Total:
Mortgage loans:
One- to four-family	4,265				2,148				243				4,281				44				36
Multi-family	—				—				—				2,019				—				—
Commercial	12,109				9,214				181				12,480				177				139
Land	1,286				1,119				25				1,796				14				11
Consumer loans:
Home equity and second mortgage	905				382				361				909				10				9
Other	34				—				23				35				—				—
Commercial business loans	73				78				—				37				—				—
Total	$	18,672			$	12,941			$	833			$	21,557			$	245			$	195

________________________________________________

(1) For the three months ended

The following table is a summary of information related to impaired loans by portfolio segment as of and for the year ended September 30, 2015 (dollars in thousands):

	Recorded Investment				Unpaid Principal Balance (Loan Balance Plus Charge Off)				Related Allowance				YTD Average Recorded Investment (1)				YTD Interest Income Recognized (1)				YTD Cash Basis Interest Income Recognized (1)
With no related allowance recorded:
Mortgage loans:
One- to four-family	$	1,321			$	1,546			$	—			$	1,919			$	25			$	25
Multi-family	760				791				—				570				3				3
Commercial	7,199				8,259				—				9,078				521				412
Construction – custom and owner/builder	—				—				—				118				—				—
Land	1,614				2,150				—				1,028				25				20
Consumer loans:
Home equity and second mortgage	165				381				—				270				—				—
Commercial business loans	—				6				—				—				—				—
Subtotal	11,059				13,133				—				12,983				574				460
With an allowance recorded:
Mortgage loans:
One- to four-family	2,970				2,970				307				3,833				149				112
Multi-family	3,277				3,277				16				3,291				184				137
Commercial	5,653				5,653				265				3,475				202				152
Construction – custom and owner/builder	—				—				—				17				—				—
Land	691				691				37				3,298				32				27
Consumer loans:
Home equity and second mortgage	745				745				362				516				18				15
Other	36				36				24				28				—				—
Subtotal	13,372				13,372				1,011				14,458				585				443
Total:
Mortgage loans:
One- to four-family	4,291				4,516				307				5,752				174				137
Multi-family	4,037				4,068				16				3,861				187				140
Commercial	12,852				13,912				265				12,553				723				564
Construction – custom and owner/builder	—				—				—				135				—				—
Land	2,305				2,841				37				4,326				57				47
Consumer loans:
Home equity and second mortgage	910				1,126				362				786				18				15
Other	36				36				24				28				—				—
Commercial business loans	—				6				—				—				—				—
Total	$	24,431			$	26,505			$	1,011			$	27,441			$	1,159			$	903

______________________________________________

(1) For the year ended September 30, 201

Schedule of Non-performing Assets, Loans Receivable

The following table sets forth information with respect to the Company’s non-performing assets at December 31, 2015 and September 30, 2015 (dollars in thousands):

	December 31, 2015				September 30, 2015
Loans accounted for on a non-accrual basis:
Mortgage loans:
One- to four-family	$	2,694			$	2,368
Multi-family	—				760
Commercial	1,184				1,016
Land	546				1,558
Consumer loans:
Home equity and second mortgage	300				303
Other	34				35
Commercial business loans	73				—
Total loans accounted for on a non-accrual basis	4,831				6,040
Accruing loans which are contractually past due 90 days or more	285				151
Total of non-accrual and 90 days past due loans	5,116				6,191
Non-accrual investment securities	891				932
OREO and other repossessed assets, net	7,667				7,854
Total non-performing assets (1)	$	13,674			$	14,977
Troubled debt restructured loans on accrual status (2)	$	7,971			$	12,485
Non-accrual and 90 days or more past due loans as a percentage of loans receivable	0.80		%		1.00		%
Non-accrual and 90 days or more past due loans as a percentage of total assets	0.61		%		0.76		%
Non-performing assets as a percentage of total assets	1.63		%		1.84		%
Loans receivable (3)	$	635,734			$	617,252
Total assets	$	837,379			$	815,815

___________________________________

(1) Does not include troubled debt restructured loans on accrual status.

(2) Does not include troubled debt restructured loans totaling $1.2 million and $1.2 million reported as non-accrual loans at December 31, 2015 and September 30, 2015, respectively.

(3)  Includes loans held for sale and before the allowance for loan losses.

Schedule of Troubled Debt Restructured Loans by Interest Accrual Status

The following tables set forth information with respect to the Company’s troubled debt restructured loans by interest accrual status as of December 31, 2015 and September 30, 2015 (dollars in thousands):

	December 31, 2015
	Accruing				Non- Accrual				Total
Mortgage loans:
One- to four-family	$	1,571			$	825			$	2,396
Commercial	5,366				—				5,366
Land	740				252				992
Consumer loans:
Home equity and second mortgage	294				152				446
Total	$	7,971			$	1,229			$	9,200

	September 30, 2015
	Accruing				Non- Accrual				Total
Mortgage loans:
One- to four-family	$	1,929			$	826			$	2,755
Multi-family	3,277				—				3,277
Commercial	6,237				—				6,237
Land	747				255				1,002
Consumer loans:
Home equity and second mortgage	295				152				447
Total	$	12,485			$	1,233			$	13,718

Schedule of Troubled Debt Restructurings by Portfolio Segment

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Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.3,4)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 3, 4
-Article 5

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X

- Definition

Tabular disclosure of financing receivables and troubled debt restructurings.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 33
-URI http://asc.fasb.org/extlink&oid=35738203&loc=SL6953676-111524

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=35738203&loc=SL6953682-111524

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