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Loans Receivable And Allowance For Loan Losses (Tables)

9 Months Ended

Jun. 30, 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 June 30, 2019 and September 30, 2018 (dollars in thousands):

	June 30, 2019							September 30, 2018
	Amount				Percent			Amount				Percent
Mortgage loans:
One- to four-family (1)	$	129,050			13.2	%		$	115,941			14.1	%
Multi-family	70,374				7.2			61,928				7.5
Commercial	418,778				42.7			345,113				42.0
Construction - custom and owner/builder	130,516				13.3			119,555				14.6
Construction - speculative one- to four-family	18,165				1.9			15,433				1.9
Construction - commercial	41,805				4.3			39,590				4.8
Construction - multi-family	29,400				2.9			10,740				1.3
Construction - land development	3,047				0.3			3,040				0.4
Land	26,653				2.7			25,546				3.1
Total mortgage loans	867,788				88.5			736,886				89.8
Consumer loans:
Home equity and second mortgage	42,204				4.3			37,341				4.5
Other	4,450				0.5			3,515				0.5
Total consumer loans	46,654				4.8			40,856				5.0
Commercial business loans	65,185				6.7			43,053				5.2
Total loans receivable	979,627				100.0	%		820,795				100.0	%
Less:
Undisbursed portion of construction  loans in process	93,176							83,237
Deferred loan origination fees, net	2,838							2,637
Allowance for loan losses	9,631							9,530
	105,645							95,404
Loans receivable, net	$	873,982						$	725,391
_____________________________
(1) Does not include one- to four-family loans held for sale totaling $3,338 and $1,785 at June 30, 2019 and September 30, 2018, respectively.

Schedule of Allowance for Loan Losses

The following tables set forth information for the three and nine months ended June 30, 2019 and 2018 regarding activity in the allowance for loan losses by portfolio segment (dollars in thousands):

	Three Months Ended June 30, 2019
	Beginning Allowance				Provision for (Recapture of) Loan Losses				Charge- offs				Recoveries				Ending Allowance
Mortgage loans:
One- to four-family	$	1,154			$	(36	)		$	—			$	—			$	1,118
Multi-family	470				(32		)		—				—				438
Commercial	4,122				(70		)		—				—				4,052
Construction – custom and owner/builder	666				36				—				—				702
Construction – speculative one- to four-family	249				(28		)		—				—				221
Construction – commercial	384				—				—				—				384
Construction – multi-family	272				95				—				—				367
Construction – land development	244				(118		)		—				—				126
Land	649				48				(46		)		5				656
Consumer loans:
Home equity and second mortgage	667				(21		)		(1		)		—				645
Other	112				(25		)		(1		)		1				87
Commercial business loans	752				151				(93		)		25				835
Total	$	9,741			$	—			$	(141	)		$	31			$	9,631

	Nine Months Ended June 30, 2019
	Beginning Allowance				Provision for (Recapture of) Loan Losses				Charge- offs				Recoveries				Ending Allowance
Mortgage loans:
One-to four-family	$	1,086			$	(35	)		$	—			$	67			$	1,118
Multi-family	433				5				—				—				438
Commercial	4,248				(346		)		—				150				4,052
Construction – custom and owner/builder	671				31				—				—				702
Construction – speculative one- to four-family	178				43				—				—				221
Construction – commercial	563				(179		)		—				—				384
Construction – multi-family	135				232				—				—				367
Construction – land development	49				77				—				—				126
Land	844				(155		)		(46		)		13				656
Consumer loans:
Home equity and second mortgage	649				1				(5		)		—				645
Other	117				(29		)		(4		)		3				87
Commercial business loans	557				355				(102		)		25				835
Total	$	9,530			$	—			$	(157	)		$	258			$	9,631

	Three Months Ended June 30, 2018
	Beginning Allowance				Provision for (Recapture of) Loan Losses				Charge- offs				Recoveries				Ending Allowance
Mortgage loans:
One- to four-family	$	1,060			$	(33	)		$	—			$	—			$	1,027
Multi-family	386				21				—				—				407
Commercial	4,198				(15		)		—				—				4,183
Construction – custom and owner/builder	705				(38		)		—				—				667
Construction – speculative one- to four-family	99				34				—				—				133
Construction – commercial	445				74				—				—				519
Construction – multi-family	284				(137		)		—				—				147
Construction – land development	48				32				—				—				80
Land	691				64				(16		)		5				744
Consumer loans:
Home equity and second mortgage	945				1				—				—				946
Other	120				2				(1		)		—				121
Commercial business loans	563				(5		)		—				—				558
Total	$	9,544			$	—			$	(17	)		$	5			$	9,532

	Nine Months Ended June 30, 2018
	Beginning Allowance				Provision for (Recapture of) Loan Losses				Charge- offs				Recoveries				Ending Allowance
Mortgage loans:
One-to four-family	$	1,082			$	(55	)		$	—			$	—			$	1,027
Multi-family	447				(40		)		—				—				407
Commercial	4,184				27				(28		)		—				4,183
Construction – custom and owner/builder	699				(32		)		—				—				667
Construction – speculative one- to four-family	128				(6		)		—				11				133
Construction – commercial	303				216				—				—				519
Construction – multi-family	173				(26		)		—				—				147
Construction – land development	—				80				—				—				80
Land	918				(172		)		(16		)		14				744
Consumer loans:
Home equity and second mortgage	983				(37		)		—				—				946
Other	121				2				(3		)		1				121
Commercial business loans	515				43				—				—				558
Total	$	9,553			$	—			$	(47	)		$	26			$	9,532

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 June 30, 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
June 30, 2019
Mortgage loans:
One- to four-family	$	—			$	1,118			$	1,118			$	1,220			$	127,830			$	129,050
Multi-family	—				438				438				—				70,374				70,374
Commercial	—				4,052				4,052				3,255				415,523				418,778
Construction – custom and owner/builder	—				702				702				—				70,237				70,237
Construction – speculative one- to four-family	—				221				221				—				10,545				10,545
Construction – commercial	—				384				384				—				27,567				27,567
Construction – multi-family	—				367				367				—				18,418				18,418
Construction – land development	—				126				126				—				2,990				2,990
Land	37				619				656				422				26,231				26,653
Consumer loans:
Home equity and second mortgage	—				645				645				606				41,598				42,204
Other	8				79				87				14				4,436				4,450
Commercial business loans	214				621				835				749				64,436				65,185
Total	$	259			$	9,372			$	9,631			$	6,266			$	880,185			$	886,451
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 June 30, 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
June 30, 2019
Mortgage loans:
One- to four-family	$	161			$	—			$	723			$	—			$	884			$	128,166			$	129,050
Multi-family	—				—				—				—				—				70,374				70,374
Commercial	—				—				836				—				836				417,942				418,778
Construction – custom and owner/builder	—				—				—				—				—				70,237				70,237
Construction – speculative one- to four- family	—				—				—				—				—				10,545				10,545
Construction – commercial	—				—				—				—				—				27,567				27,567
Construction – multi-family	—				—				—				—				—				18,418				18,418
Construction – land development	—				—				—				—				—				2,990				2,990
Land	—				—				422				—				422				26,231				26,653
Consumer loans:
Home equity and second mortgage	—				—				606				—				606				41,598				42,204
Other	10				—				14				—				24				4,426				4,450
Commercial business loans	—				—				749				—				749				64,436				65,185
Total	$	171			$	—			$	3,350			$	—			$	3,521			$	882,930			$	886,451
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 June 30, 2019 and September 30, 2018 (dollars in thousands):

	Loan Grades
June 30, 2019	Pass				Watch				Special Mention				Substandard				Total
Mortgage loans:
One- to four-family	$	126,094			$	302			$	566			$	2,088			$	129,050
Multi-family	70,374				—				—				—				70,374
Commercial	408,798				8,237				636				1,107				418,778
Construction – custom and owner/builder	70,004				233				—				—				70,237
Construction – speculative one- to four-family	10,545				—				—				—				10,545
Construction – commercial	27,567				—				—				—				27,567
Construction – multi-family	18,418				—				—				—				18,418
Construction – land development	2,766				—				—				224				2,990
Land	24,049				956				1,226				422				26,653
Consumer loans:
Home equity and second mortgage	41,369				42				—				793				42,204
Other	4,402				34				—				14				4,450
Commercial business loans	64,374				13				49				749				65,185
Total	$	868,760			$	9,817			$	2,477			$	5,397			$	886,451
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 June 30, 2019 and for the three and nine 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	$	1,220			$	1,301			$	—			$	1,145			$	1,089			$	18			$	53			$	15			$	47
Commercial	3,255				3,255				—				3,263				2,852				78				158				70				132
Land	279				393				—				174				109				3				3				3				3
Consumer loans:
Home equity and second mortgage	606				606				—				474				423				—				—				—				—
Commercial business loans	200				208				—				203				130				18				20				18				20
Subtotal	5,560				5,763				—				5,259				4,603				117				234				106				202
With an allowance recorded:
Mortgage loans:
Land	143				143				37				268				233				—				—				—				—
Consumer loans:
Home equity and second mortgage	—				—				—				—				38				—				—				—				—
Other	14				14				8				15				7				—				—				—				—
Commercial business loans	549				549				214				430				304				—				25				—				25
Subtotal	706				706				259				713				582				—				25				—				25
Total:
Mortgage loans:
One- to four-family	1,220				1,301				—				1,145				1,089				18				53				15				47
Commercial	3,255				3,255				—				3,263				2,852				78				158				70				132
Land	422				536				37				442				342				3				3				3				3
Consumer loans:
Home equity and second mortgage	606				606				—				474				461				—				—				—				—
Other	14				14				8				15				7				—				—				—				—
Commercial business loans	749				757				214				633				434				18				45				18				45
Total	$	6,266			$	6,469			$	259			$	5,972			$	5,185			$	117			$	259			$	106			$	227

______________________________________________

(1) For the three months ended June 30, 2019.

(2) For the nine months ended June 30, 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 June 30, 2019 and September 30, 2018 (dollars in thousands):

	June 30, 2019
	Accruing				Non- Accrual				Total
Mortgage loans:
One- to four-family	$	497			$	143			$	640
Commercial	2,419				—				2,419
Commercial business loans	—				149				149
Total	$	2,916			$	292			$	3,208

	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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