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Loans Receivable And Allowance For Loan Losses (Tables)

6 Months Ended

Mar. 31, 2019

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

Schedule of Loans receivable and Loans held for sale

Loans receivable by portfolio segment consisted of the following at March 31, 2019 and September 30, 2018 (dollars in thousands):

	March 31, 2019							September 30, 2018
	Amount				Percent			Amount				Percent
Mortgage loans:
One- to four-family (1)	$	130,413			13.3	%		$	115,941			14.1	%
Multi-family	74,816				7.6			61,928				7.5
Commercial	417,223				42.6			345,113				42.0
Construction - custom and owner/builder	120,789				12.3			119,555				14.6
Construction - speculative one- to four-family	20,014				2.0			15,433				1.9
Construction - commercial	42,157				4.4			39,590				4.8
Construction - multi-family	29,399				3.0			10,740				1.3
Construction - land development	8,782				0.9			3,040				0.4
Land	22,471				2.3			25,546				3.1
Total mortgage loans	866,064				88.4			736,886				89.8
Consumer loans:
Home equity and second mortgage	41,609				4.2			37,341				4.5
Other	4,605				0.5			3,515				0.5
Total consumer loans	46,214				4.7			40,856				5.0
Commercial business loans	68,074				6.9			43,053				5.2
Total loans receivable	980,352				100.0	%		820,795				100.0	%
Less:
Undisbursed portion of construction  loans in process	94,471							83,237
Deferred loan origination fees, net	2,856							2,637
Allowance for loan losses	9,741							9,530
	107,068							95,404
Loans receivable, net	$	873,284						$	725,391
_____________________________
(1) Does not include one- to four-family loans held for sale totaling $3,068 and $1,785 at March 31, 2019 and September 30, 2018, respectively.

Schedule of Allowance for Loan Losses

The following tables set forth information for the three and six months ended March 31, 2019 and 2018 regarding activity in the allowance for loan losses by portfolio segment (dollars in thousands):

	Three Months Ended March 31, 2019
	Beginning Allowance				Provision for (Recapture of) Loan Losses				Charge- offs				Recoveries				Ending Allowance
Mortgage loans:
One- to four-family	$	1,159			$	(72	)		$	—			$	67			$	1,154
Multi-family	449				21				—				—				470
Commercial	4,239				(267		)		—				150				4,122
Construction – custom and owner/builder	643				23				—				—				666
Construction – speculative one- to four-family	206				43				—				—				249
Construction – commercial	386				(2		)		—				—				384
Construction – multi-family	209				63				—				—				272
Construction – land development	143				101				—				—				244
Land	757				(112		)		—				4				649
Consumer loans:
Home equity and second mortgage	666				5				(4		)		—				667
Other	101				11				(1		)		1				112
Commercial business loans	575				186				(9		)		—				752
Total	$	9,533			$	—			$	(14	)		$	222			$	9,741

	Six Months Ended March 31, 2019
	Beginning Allowance				Provision for (Recapture of) Loan Losses				Charge- offs				Recoveries				Ending Allowance
Mortgage loans:
One-to four-family	$	1,086			$	1			$	—			$	67			$	1,154
Multi-family	433				37				—				—				470
Commercial	4,248				(276		)		—				150				4,122
Construction – custom and owner/builder	671				(5		)		—				—				666
Construction – speculative one- to four-family	178				71				—				—				249
Construction – commercial	563				(179		)		—				—				384
Construction – multi-family	135				137				—				—				272
Construction – land development	49				195				—				—				244
Land	844				(203		)		—				8				649
Consumer loans:
Home equity and second mortgage	649				22				(4		)		—				667
Other	117				(4		)		(3		)		2				112
Commercial business loans	557				204				(9		)		—				752
Total	$	9,530			$	—			$	(16	)		$	227			$	9,741

	Three Months Ended March 31, 2018
	Beginning Allowance				Provision for (Recapture of) Loan Losses				Charge- offs				Recoveries				Ending Allowance
Mortgage loans:
One- to four-family	$	1,125			$	(65	)		$	—			$	—			$	1,060
Multi-family	430				(44		)		—				—				386
Commercial	4,093				133				(28		)		—				4,198
Construction – custom and owner/builder	788				(83		)		—				—				705
Construction – speculative one- to four-family	75				21				—				3				99
Construction – commercial	396				49				—				—				445
Construction – multi-family	228				56				—				—				284
Construction – land development	—				48				—				—				48
Land	780				(94		)		—				5				691
Consumer loans:
Home equity and second mortgage	958				(13		)		—				—				945
Other	129				(8		)		(1		)		—				120
Commercial business loans	563				—				—				—				563
Total	$	9,565			$	—			$	(29	)		$	8			$	9,544

	Six Months Ended March 31, 2018
	Beginning Allowance				Provision for (Recapture of) Loan Losses				Charge- offs				Recoveries				Ending Allowance
Mortgage loans:
One-to four-family	$	1,082			$	(22	)		$	—			$	—			$	1,060
Multi-family	447				(61		)		—				—				386
Commercial	4,184				42				(28		)		—				4,198
Construction – custom and owner/builder	699				6				—				—				705
Construction – speculative one- to four-family	128				(40		)		—				11				99
Construction – commercial	303				142				—				—				445
Construction – multi-family	173				111				—				—				284
Construction – land development	—				48				—				—				48
Land	918				(236		)		—				9				691
Consumer loans:
Home equity and second mortgage	983				(38		)		—				—				945
Other	121				—				(2		)		1				120
Commercial business loans	515				48				—				—				563
Total	$	9,553			$	—			$	(30	)		$	21			$	9,544

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 March 31, 2019 and September 30, 2018 (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
March 31, 2019
Mortgage loans:
One- to four-family	$	—			$	1,154			$	1,154			$	1,069			$	129,344			$	130,413
Multi-family	—				470				470				—				74,816				74,816
Commercial	—				4,122				4,122				3,271				413,952				417,223
Construction – custom and owner/builder	—				666				666				—				66,622				66,622
Construction – speculative one- to four-family	—				249				249				—				11,296				11,296
Construction – commercial	—				384				384				—				27,752				27,752
Construction –  multi-family	—				272				272				—				13,595				13,595
Construction – land development	—				244				244				—				7,405				7,405
Land	77				572				649				461				22,010				22,471
Consumer loans:
Home equity and second mortgage	—				667				667				342				41,267				41,609
Other	9				103				112				15				4,590				4,605
Commercial business loans	145				607				752				515				67,559				68,074
Total	$	231			$	9,510			$	9,741			$	5,673			$	880,208			$	885,881
September 30, 2018
Mortgage loans:
One- to four-family	$	—			$	1,086			$	1,086			$	1,054			$	114,887			$	115,941
Multi-family	—				433				433				—				61,928				61,928
Commercial	—				4,248				4,248				2,446				342,667				345,113
Construction – custom and owner/builder	—				671				671				—				67,024				67,024
Construction – speculative one- to four-family	—				178				178				—				7,107				7,107
Construction – commercial	—				563				563				—				23,440				23,440
Construction – multi-family	—				135				135				—				5,983				5,983
Construction – land development	—				49				49				—				1,567				1,567
Land	34				810				844				243				25,303				25,546
Consumer loans:
Home equity and second mortgage	—				649				649				359				36,982				37,341
Other	—				117				117				—				3,515				3,515
Commercial business loans	63				494				557				170				42,883				43,053
Total	$	97			$	9,433			$	9,530			$	4,272			$	733,286			$	737,558

Past Due Status of Loans Receivable

The following tables present an analysis of loans by aging category and portfolio segment at March 31, 2019 and September 30, 2018 (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
March 31, 2019
Mortgage loans:
One- to four-family	$	—			$	—			$	568			$	—			$	568			$	129,845			$	130,413
Multi-family	—				—				—				—				—				74,816				74,816
Commercial	456				—				844				—				1,300				415,923				417,223
Construction – custom and owner/builder	—				—				—				—				—				66,622				66,622
Construction – speculative one- to four- family	—				—				—				—				—				11,296				11,296
Construction – commercial	—				—				—				—				—				27,752				27,752
Construction – multi-family	—				—				—				—				—				13,595				13,595
Construction – land development	228				—				—				—				228				7,177				7,405
Land	11				—				461				—				472				21,999				22,471
Consumer loans:
Home equity and second mortgage	—				36				342				—				378				41,231				41,609
Other	—				—				15				—				15				4,590				4,605
Commercial business loans	99				—				515				—				614				67,460				68,074
Total	$	794			$	36			$	2,745			$	—			$	3,575			$	882,306			$	885,881
September 30, 2018
Mortgage loans:
One- to four-family	$	557			$	—			$	545			$	—			$	1,102			$	114,839			$	115,941
Multi-family	—				—				—				—				—				61,928				61,928
Commercial	574				—				—				—				574				344,539				345,113
Construction – custom and owner/        builder	—				—				—				—				—				67,024				67,024
Construction – speculative one- to four- family	—				—				—				—				—				7,107				7,107
Construction – commercial	—				—				—				—				—				23,440				23,440
Construction – multi-family	—				—				—				—				—				5,983				5,983
Construction – land development	—				—				—				—				—				1,567				1,567
Land	40				—				243				—				283				25,263				25,546
Consumer loans:
Home equity and second mortgage	42				—				359				—				401				36,940				37,341
Other	10				16				—				—				26				3,489				3,515
Commercial business loans	—				—				170				—				170				42,883				43,053
Total	$	1,223			$	16			$	1,317			$	—			$	2,556			$	735,002			$	737,558

______________________

(1) Includes non-accrual loans past due 90 days or more and other loans classified as non-accrual.

Financing Receivable Credit Quality Indicators

The following tables present an analysis of loans by credit quality indicator and portfolio segment at March 31, 2019 and September 30, 2018 (dollars in thousands):

	Loan Grades
March 31, 2019	Pass				Watch				Special Mention				Substandard				Total
Mortgage loans:
One- to four-family	$	127,202			$	699			$	567			$	1,945			$	130,413
Multi-family	74,816				—				—				—				74,816
Commercial	406,675				8,285				696				1,567				417,223
Construction – custom and owner/builder	66,391				231				—				—				66,622
Construction – speculative one- to four-family	11,296				—				—				—				11,296
Construction – commercial	27,752				—				—				—				27,752
Construction – multi-family	13,595				—				—				—				13,595
Construction – land development	7,178				—				—				227				7,405
Land	19,806				968				1,236				461				22,471
Consumer loans:
Home equity and second mortgage	40,994				79				—				536				41,609
Other	4,556				34				—				15				4,605
Commercial business loans	66,766				274				131				903				68,074
Total	$	867,027			$	10,570			$	2,630			$	5,654			$	885,881
September 30, 2018
Mortgage loans:
One- to four-family	$	113,148			$	882			$	581			$	1,330			$	115,941
Multi-family	61,928				—				—				—				61,928
Commercial	334,908				8,375				988				842				345,113
Construction – custom and owner/builder	66,720				304				—				—				67,024
Construction – speculative one- to four-family	7,107				—				—				—				7,107
Construction – commercial	23,440				—				—				—				23,440
Construction – multi-family	5,983				—				—				—				5,983
Construction – land development	1,567				—				—				—				1,567
Land	22,810				988				1,505				243				25,546
Consumer loans:
Home equity and second mortgage	36,697				82				—				562				37,341
Other	3,480				—				—				35				3,515
Commercial business loans	42,812				22				49				170				43,053
Total	$	720,600			$	10,653			$	3,123			$	3,182			$	737,558

Impaired Loans Receivable

The following table is a summary of information related to impaired loans by portfolio segment as of March 31, 2019 and for the three and six months then ended (dollars in thousands):

	Recorded Investment				Unpaid Principal Balance (Loan Balance Plus Charge Off)				Related Allowance				Quarter to Date ("QTD") Average Recorded Investment (1)				Year to Date ("YTD") Average Recorded Investment (2)				QTD Interest Income Recognized (1)				YTD Interest Income Recognized (2)				QTD Cash Basis Interest Income Recognized (1)				YTD Cash Basis Interest Income Recognized (2)
With no related allowance recorded:
Mortgage loans:
One- to four-family	$	1,069			$	1,150			$	—			$	1,042			$	1,046			$	17			$	35			$	16			$	32
Commercial	3,271				3,271				—				2,854				2,718				40				80				32				62
Land	68				141				—				34				53				—				—				—				—
Consumer loans:
Home equity and second mortgage	342				342				—				364				362				—				—				—				—
Commercial business loans	205				213				—				160				106				2				2				2				2
Subtotal	4,955				5,117				—				4,454				4,285				59				117				50				96
With an allowance recorded:
Mortgage loans:
Land	393				393				77				395				263				—				—				—				—
Consumer loans:
Home equity and second mortgage	—				—				—				—				51				—				—				—				—
Other	15				15				9				8				5				—				—				—				—
Commercial business loans	310				310				145				248				222				—				—				—				—
Subtotal	718				718				231				651				541				—				—				—				—
Total:
Mortgage loans:
One- to four-family	1,069				1,150				—				1,042				1,046				17				35				16				32
Commercial	3,271				3,271				—				2,854				2,718				40				80				32				62
Land	461				534				77				429				316				—				—				—				—
Consumer loans:
Home equity and second mortgage	342				342				—				364				413				—				—				—				—
Other	15				15				9				8				5				—				—				—				—
Commercial business loans	515				523				145				408				328				2				2				2				2
Total	$	5,673			$	5,835			$	231			$	5,105			$	4,826			$	59			$	117			$	50			$	96

______________________________________________

(1) For the three months ended March 31, 2019.

(2) For the six months ended March 31, 2019.

The following table is a summary of information related to impaired loans by portfolio segment as of and for the year ended September 30, 2018 (dollars in thousands):

	Recorded Investment				Unpaid Principal Balance (Loan Balance Plus Charge Off)				Related Allowance				Average Recorded Investment (1)				Interest Income Recognized (1)				Cash Basis Interest Income Recognized (1)
With no related allowance recorded:
Mortgage loans:
One- to four-family	$	1,054			$	1,200			$	—			$	1,422			$	80			$	69
Commercial	2,446				2,446				—				2,389				121				93
Land	90				195				—				283				11				10
Consumer loans:
Home equity and second mortgage	359				359				—				210				3				3
Subtotal	3,949				4,200				—				4,304				215				175
With an allowance recorded:
Mortgage loans:
One- to four-family	—				—				—				9				—				—
Commercial	—				—				—				760				28				21
Land	153				153				34				383				9				8
Consumer loans:
Home equity and second mortgage	—				—				—				310				16				13
Commercial business loans	170				170				63				141				—				—
Subtotal	323				323				97				1,603				53				42
Total:
Mortgage loans:
One- to four-family	1,054				1,200				—				1,431				80				69
Commercial	2,446				2,446				—				3,149				149				114
Land	243				348				34				666				20				18
Consumer loans:
Home equity and second mortgage	359				359				—				520				19				16
Commercial business loans	170				170				63				141				—				—
Total	$	4,272			$	4,523			$	97			$	5,907			$	268			$	217

______________________________________________

(1) For the year ended September 30, 2018.

Schedule of Troubled Debt Restructured Loans by Interest Accrual Status

The following tables set forth information with respect to the Company’s TDRs by interest accrual status as of March 31, 2019 and September 30, 2018 (dollars in thousands):

	March 31, 2019
	Accruing				Non- Accrual				Total
Mortgage loans:
One- to four-family	$	501			$	144			$	645
Commercial	2,427				—				2,427
Commercial business loans	—				155				155
Total	$	2,928			$	299			$	3,227

	September 30, 2018
	Accruing				Non- Accrual				Total
Mortgage loans:
One- to four-family	$	509			$	—			$	509
Commercial	2,446				—				2,446
Land	—				153				153
Commercial business loans	—				170				170
Total	$	2,955			$	323			$	3,278

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Tabular disclosure of financing receivables by credit quality indicator. The credit quality indicator is a statistic about the credit quality of financing receivables. Examples include, but not limited to, consumer credit risk scores, credit-rating-agency ratings, an entity's internal credit risk grades, loan-to-value ratios, collateral, collection experience and other internal metrics.

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X

- Definition

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

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