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Loans Receivable And Allowance For Loan Losses (Tables)

9 Months Ended

Jun. 30, 2021

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, 2021 and September 30, 2020 (dollars in thousands):

			June 30, 2021												September 30, 2020
			Amount						Percent						Amount						Percent
Mortgage loans:
One- to four-family (1)			$	119,173					10.7		%				$	118,580					10.5		%
Multi-family			94,756						8.5						85,053						7.5
Commercial			458,889						41.3						453,574						40.0
Construction - custom and owner/builder			105,484						9.5						129,572						11.4
Construction - speculative one- to four-family			18,038						1.6						14,592						1.3
Construction - commercial			43,879						3.9						33,144						2.9
Construction - multi-family			45,624						4.1						34,476						3.0
Construction - land development			4,434						0.4						7,712						0.7
Land			18,289						1.6						25,571						2.3
Total mortgage loans			908,566						81.6						902,274						79.6
Consumer loans:
Home equity and second mortgage			31,891						2.9						32,077						2.8
Other			2,725						0.2						3,572						0.3
Total consumer loans			34,616						3.1						35,649						3.1
Commercial loans:
Commercial business			72,890						6.7						69,540						6.1
U.S. Small Business Administration ("SBA") Paycheck Protection Program ("PPP") loans			95,633						8.6						126,820						11.2
Total commercial loans			168,523						15.3		%				196,360						17.3
Total loans receivable			1,111,705						100.0		%				1,134,283						100.0		%
Less:
Undisbursed portion of construction  loans in process			90,332												100,558
Deferred loan origination fees, net			6,339												6,436
Allowance for loan losses			13,469												13,414
Subtotal			110,140												120,408
Loans receivable, net			$	1,001,565											$	1,013,875
_____________________________
(1) Does not include one- to four-family loans held for sale totaling $3,359 and $4,509 at June 30, 2021 and September 30, 2020, respectively.

Schedule of Allowance for Loan Losses

The following tables set forth information for the three and nine months ended June 30, 2021 and 2020 regarding activity in the allowance for loan losses by portfolio segment (dollars in thousands):

			Three Months Ended June 30, 2021
			Beginning Allowance						Provision for (Recapture of) Loan Losses						Charge- offs						Recoveries						Ending Allowance
Mortgage loans:
One- to four-family			$	1,151					$	(9)					$	—					$	—					$	1,142
Multi-family			784						26						—						—						810
Commercial			7,238						(277)						—						—						6,961
Construction – custom and owner/builder			695						(91)						—						—						604
Construction – speculative one- to four-family			148						36						—						—						184
Construction – commercial			714						44						—						—						758
Construction – multi-family			323						125						—						—						448
Construction – land development			19						12						—						—						31
Land			407						(58)						—						35						384
Consumer loans:
Home equity and second mortgage			552						(1)						—						—						551
Other			56						—						—						—						56
Commercial business loans			1,347						193						—						—						1,540
Total			$	13,434					$	—					$	—					$	35					$	13,469

			Nine Months Ended June 30, 2021
			Beginning Allowance						Provision for (Recapture of) Loan Losses						Charge- offs						Recoveries						Ending Allowance
Mortgage loans:
One-to four-family			$	1,163					$	(21)					$	—					$	—					$	1,142
Multi-family			718						92						—						—						810
Commercial			7,144						(183)						—						—						6,961
Construction – custom and owner/builder			832						(228)						—						—						604
Construction – speculative one- to four-family			158						26						—						—						184
Construction – commercial			420						338						—						—						758
Construction – multi-family			238						210						—						—						448
Construction – land development			133						(102)						—						—						31
Land			572						(233)						—						45						384
Consumer loans:
Home equity and second mortgage			593						(42)						—						—						551
Other			71						(18)						(1)						4						56
Commercial business loans			1,372						161						(2)						9						1,540
Total			$	13,414					$	—					$	(3)					$	58					$	13,469

			Three Months Ended June 30, 2020
			Beginning Allowance						Provision for (Recapture of) Loan Losses						Charge- offs						Recoveries						Ending Allowance
Mortgage loans:
One- to four-family			$	1,149					$	14					$	—					$	—					$	1,163
Multi-family			595						70						—						—						665
Commercial			5,762						957						—						—						6,719
Construction – custom and owner/builder			697						110						—						—						807
Construction – speculative one- to four-family			204						(40)						—						—						164
Construction – commercial			423						(119)						—						—						304
Construction – multi-family			394						(76)						—						—						318
Construction – land development			80						27						—						—						107
Land			678						(41)						—						5						642
Consumer loans:
Home equity and second mortgage			656						(24)						—						—						632
Other			78						(4)						(1)						—						73
Commercial business loans			1,174						126						—						—						1,300
Total			$	11,890					$	1,000					$	(1)					$	5					$	12,894

			Nine Months Ended June 30, 2020
			Beginning Allowance						Provision for (Recapture of) Loan Losses						Charge- offs						Recoveries						Ending Allowance
Mortgage loans:
One-to four-family			$	1,167					$	(7)					$	—					$	3					$	1,163
Multi-family			481						184						—						—						665
Commercial			4,154						2,560						—						5						6,719
Construction – custom and owner/builder			755						47						—						5						807
Construction – speculative one- to four-family			212						(48)						—						—						164
Construction – commercial			338						(34)						—						—						304
Construction – multi-family			375						(57)						—						—						318
Construction – land development			67						40						—						—						107
Land			697						(70)						—						15						642
Consumer loans:
Home equity and second mortgage			623						9						—						—						632
Other			99						(17)						(12)						3						73
Commercial business loans			722						593						(15)						—						1,300
Total			$	9,690					$	3,200					$	(27)					$	31					$	12,894

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, 2021 and September 30, 2020 (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, 2021
Mortgage loans:
One- to four-family			$	—					$	1,142					$	1,142					$	411					$	118,762					$	119,173
Multi-family			—						810						810						—						94,756						94,756
Commercial			—						6,961						6,961						2,753						456,136						458,889
Construction – custom and owner/builder			—						604						604						—						57,309						57,309
Construction – speculative one- to four-family			—						184						184						—						9,263						9,263
Construction – commercial			—						758						758						—						37,007						37,007
Construction – multi-family			—						448						448						—						22,397						22,397
Construction – land development			—						31						31						—						1,151						1,151
Land			—						384						384						169						18,120						18,289
Consumer loans:
Home equity and second mortgage			—						551						551						545						31,346						31,891
Other			—						56						56						18						2,707						2,725
Commercial business loans			171						1,369						1,540						513						72,377						72,890
SBA PPP loans			—						—						—						—						95,633						95,633
Total			$	171					$	13,298					$	13,469					$	4,409					$	1,016,964					$	1,021,373
September 30, 2020
Mortgage loans:
One- to four-family			$	3					$	1,160					$	1,163					$	1,143					$	117,437					$	118,580
Multi-family			—						718						718						—						85,053						85,053
Commercial			—						7,144						7,144						3,242						450,332						453,574
Construction – custom and owner/builder			—						832						832						—						75,332						75,332
Construction – speculative one- to four-family			—						158						158						—						7,108						7,108
Construction – commercial			—						420						420						—						20,927						20,927
Construction – multi-family			—						238						238						—						10,832						10,832
Construction – land development			—						133						133						—						4,739						4,739
Land			—						572						572						394						25,177						25,571
Consumer loans:
Home equity and second mortgage			—						593						593						555						31,522						32,077
Other			—						71						71						9						3,563						3,572
Commercial business loans			38						1,334						1,372						430						69,110						69,540
SBA PPP loans			—						—						—						—						126,820						126,820
Total			$	41					$	13,373					$	13,414					$	5,773					$	1,027,952					$	1,033,725

Past Due Status of Loans Receivable

The following tables present an analysis of loans by aging category and portfolio segment at June 30, 2021 and September 30, 2020 (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, 2021
Mortgage loans:
One- to four-family			$	—					$	183					$	411					$	—					$	594					$	118,579					$	119,173
Multi-family			—						—						—						—						—						94,756						94,756
Commercial			—						509						373						—						882						458,007						458,889
Construction – custom and owner/builder			—						—						—						—						—						57,309						57,309
Construction – speculative one- to four-family			—						—						—						—						—						9,263						9,263
Construction – commercial			—						—						—						—						—						37,007						37,007
Construction – multi-family			—						—						—						—						—						22,397						22,397
Construction – land development			—						—						—						—						—						1,151						1,151
Land			—						204						169						—						373						17,916						18,289
Consumer loans:
Home equity and second mortgage			17						—						545						—						562						31,329						31,891
Other			—						—						18						—						18						2,707						2,725
Commercial business loans			—						—						513						—						513						72,377						72,890
SBA PPP loans			—						—						—						—						—						95,633						95,633
Total			$	17					$	896					$	2,029					$	—					$	2,942					$	1,018,431					$	1,021,373
September 30, 2020
Mortgage loans:
One- to four-family			$	—					$	68					$	659					$	—					$	727					$	117,853					$	118,580
Multi-family			—						—						—						—						—						85,053						85,053
Commercial			—						519						858						—						1,377						452,197						453,574
Construction – custom and owner/builder			—						—						—						—						—						75,332						75,332
Construction – speculative one- to four-family			—						—						—						—						—						7,108						7,108
Construction – commercial			—						—						—						—						—						20,927						20,927
Construction – multi-family			—						—						—						—						—						10,832						10,832
Construction – land development			—						38						—						—						38						4,701						4,739
Land			—						144						394						—						538						25,033						25,571
Consumer loans:
Home equity and second mortgage			—						22						555						—						577						31,500						32,077
Other			3						—						9						—						12						3,560						3,572
Commercial business loans			49												430												479						69,061						69,540
SBA PPP loans			—						—						—						—						—						126,820						126,820
Total			$	52					$	791					$	2,905					$	—					$	3,748					$	1,029,977					$	1,033,725

______________________

(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, 2021 and September 30, 2020 (dollars in thousands):

			Loan Grades
June 30, 2021			Pass						Watch						Special Mention						Substandard						Total
Mortgage loans:
One- to four-family			$	118,083					$	132					$	540					$	418					$	119,173
Multi-family			94,756						—						—						—						94,756
Commercial			440,143						10,335						7,595						816						458,889
Construction – custom and owner/builder			56,471						838						—						—						57,309
Construction – speculative one- to four-family			9,263						—						—						—						9,263
Construction – commercial			35,490						—						1,517						—						37,007
Construction – multi-family			22,397						—						—						—						22,397
Construction – land development			1,114						—						—						37						1,151
Land			16,983						567						570						169						18,289
Consumer loans:
Home equity and second mortgage			31,193						35						—						663						31,891
Other			2,676						31						—						18						2,725
Commercial business loans			72,296						—						38						556						72,890
SBA PPP loans			95,633						—						—						—						95,633
Total			$	996,498					$	11,938					$	10,260					$	2,677					$	1,021,373
September 30, 2020
Mortgage loans:
One- to four-family			$	115,992					$	1,369					$	551					$	668					$	118,580
Multi-family			85,053						—						—						—						85,053
Commercial			441,037						7,712						3,447						1,378						453,574
Construction – custom and owner/builder			74,529						803						—						—						75,332
Construction – speculative one- to four-family			7,108						—						—						—						7,108
Construction – commercial			19,525						—						1,402						—						20,927
Construction – multi-family			10,832						—						—						—						10,832
Construction – land development			4,701						—						—						38						4,739
Land			23,290						1,518						370						393						25,571
Consumer loans:
Home equity and second mortgage			31,344						53						—						680						32,077
Other			3,531						32						—						9						3,572
Commercial business loans			68,904						59						94						483						69,540
SBA PPP loans			126,820						—						—						—						126,820
Total			$	1,012,666					$	11,546					$	5,864					$	3,649					$	1,033,725

Impaired Loans Receivable

The following table is a summary of information related to impaired loans by portfolio segment as of June 30, 2021 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			$	411					$	454					$	—					$	653					$	717					$	8					$	50					$	8					$	45
Commercial			2,753						2,753						—						2,891						3,013						39						120						32						95
Land			169						169						—						171						285						1						2						1						2
Consumer loans:
Home equity and second mortgage			545						545						—						542						561						1						1						1						1
Other			17						17						—						13						11						—						—						—						—
Commercial business loans			220						222						—						227						209						—						—						—						—
Subtotal			4,115						4,160						—						4,497						4,796						49						173						42						143
With an allowance recorded:
Mortgage loans:
One- to four-family			—						—						—						—						121						—						—						—						—
Commercial business loans			294						294						171						295						283						—						—						—						—
Subtotal			294						294						171						295						404						—						—						—						—
Total:
Mortgage loans:
One- to four-family			411						454						—						653						838						8						50						8						45
Commercial			2,753						2,753						—						2,891						3,013						39						120						32						95
Land			169						169						—						171						285						1						2						1						2
Consumer loans:
Home equity and second mortgage			545						545						—						542						561						1						1						1						1
Other			17						17						—						13						11						—						—						—						—
Commercial business loans			514						516						171						521						492						—						—						—						—
Total			$	4,409					$	4,454					$	171					$	4,791					$	5,200					$	49					$	173					$	42					$	143

______________________________________________

(1)For the three months ended June 30, 2021.

(2)For the nine months ended June 30, 2021.

			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			$	659					$	703					$	—					$	1,127					$	44					$	34
Commercial			3,242						3,242						—						3,236						133						107
Land			394						438						—						125						—						—
Consumer loans:
Home equity and second mortgage			555						555						—						581						—						—
Other			9						9						—						6						—						—
Commercial business loans			182						182						—						176						—						—
Subtotal			5,041						5,129						—						5,251						177						141
With an allowance recorded:
Mortgage loans:
One- to four-family			484						484						3						194						16						8
Land			—						—						—						110						—						—
Consumer loans:
Other			—						—						—						7						—						—
Commercial business loans			248						248						38						370						—						—
Subtotal			732						732						41						681						16						8
Total
Mortgage loans:
One- to four-family			1,143						1,187						3						1,321						60						42
Commercial			3,242						3,242						—						3,236						133						107
Land			394						438						—						235						—						—
Consumer loans:
Home equity and second mortgage			555						555						—						581						—						—
Other			9						9						—						13						—						—
Commercial business loans			430						430						38						546						—						—
Total			$	5,773					$	5,861					$	41					$	5,932					$	193					$	149

_____________________________________________

(1) For the year ended September 30, 2020.

Schedule Of COVID Loan Modifications

The following tables set forth information with respect to total COVID-19 loan modifications, on deferral status, as of June 30, 2021 and September 30, 2020 (dollars in thousands):

COVID-19 Loan Modifications						June 30, 2021
Mortgage loans						Count						Balance						Percent
Commercial						1						$	1,703					100.0		%
Total mortgage loans						1						1,703						100.0
Total COVID-19 Modifications						1						$	1,703					100.0		%

COVID-19 Loan Modifications						September 30, 2020
Mortgage loans						Number						Balance						Percent
One- to four-family						1						$	467					8.0		%
Commercial						2						3,951						67.2
Construction						1						1,402						23.9
Total mortgage loans						4						5,820						99.1
Consumer loans
Home equity and second mortgage						1						50						0.9
Total consumer loans						1						50						0.9
Total COVID-19 Modifications						5						$	5,870					100.0		%

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, 2021 and September 30, 2020 (dollars in thousands):

			June 30, 2021
			Accruing						Non- Accrual						Total
Mortgage loans:
Commercial			$	2,380					$	—					$	2,380
Land			—						121						121
Consumer loans:
Home equity and second mortgage			—						66						66
Total			$	2,380					$	187					$	2,567

			September 30, 2020
			Accruing						Non- Accrual						Total
Mortgage loans:
One- to four-family			$	483					$	—					$	483
Commercial			2,385						—						2,385
Land			—						130						130
Consumer loans:
Home equity and second mortgage			—						73						73
Total			$	2,868					$	203					$	3,071

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Schedule Of COVID Loan Modifications

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Tabular disclosure of allowance for credit loss on financing receivable.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 11B
-URI http://asc.fasb.org/extlink&oid=123577603&loc=SL6953423-111524

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 20
-Section 50
-Paragraph 13
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