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Loans Receivable and Allowance for Loan Losses (Tables)

6 Months Ended

Jun. 30, 2020

Loans Receivable and Allowance for Loan Losses [Abstract]

Composition of the Loan Portfolio

	June 30, 2020						December 31, 2019
Real Estate Loans:
Residential	$	226,120		22.8	%		$	229,781		24.9	%
Commercial		398,813		40.3				391,327		42.3
Construction		15,182		1.5				17,732		1.9
Commercial loans		194,917		19.7				134,150		14.5
Consumer loans to individuals		155,696		15.7				151,686		16.4
Total loans		990,728		100.0	%			924,676		100.0	%
Deferred fees, net		(2,049)						(95)
Total loans receivable		988,679						924,581
Allowance for loan losses		(10,312)						(8,509)
Net loans receivable	$	978,367					$	916,072

Information Regarding Loans Acquired and Accounted for in Accordance With ASC 310-30

	June 30, 2020			December 31, 2019
Outstanding Balance	$	766		$	793
Carrying Amount	$	669		$	696

Summary of Amount of Loans in Each Category that were Individually and Collectively Evaluated for Impairment

	Real Estate Loans
										Commercial			Consumer
	Residential			Commercial			Construction			Loans			Loans			Total
June 30, 2020	(In thousands)
Individually evaluated for impairment	$	—		$	2,093		$	—		$	—		$	—		$	2,093
Loans acquired with deteriorated credit quality		457			212			—			—			—			669
Collectively evaluated for impairment		225,663			396,508			15,182			194,917			155,696			987,966
Total Loans	$	226,120		$	398,813		$	15,182		$	194,917		$	155,696		$	990,728

	Real Estate Loans
										Commercial			Consumer
	Residential			Commercial			Construction			Loans			Loans			Total
December 31, 2019	(In thousands)
Individually evaluated for impairment	$	-		$	2,144		$	-		$	-		$	-		$	2,144
Loans acquired with deteriorated credit quality		476			220			-			-			-			696
Collectively evaluated for impairment		229,305			388,963			17,732			134,150			151,686			921,836
Total Loans	$	229,781		$	391,327		$	17,732		$	134,150		$	151,686		$	924,676

Impaired Loans and Related Interest Income by Loan Portfolio Class

The following table includes the recorded investment and unpaid principal balances for impaired loans with the associated allowance amount, if applicable.

				Unpaid
	Recorded			Principal			Associated
	Investment			Balance			Allowance
June 30, 2020					(in thousands)
With no related allowance recorded:
Real Estate Loans:
Commercial	$	170		$	370		$	—
Subtotal		170			370			—
With an allowance recorded:
Real Estate Loans
Commercial		1,923			1,956			392
Subtotal		1,923			1,956			392
Total:
Real Estate Loans:
Commercial		2,093			2,326			392
Total Impaired Loans	$	2,093		$	2,326		$	392

				Unpaid
	Recorded			Principal			Associated
	Investment			Balance			Allowance
December 31, 2019					(in thousands)
With no related allowance recorded:
Real Estate Loans:
Commercial	$	143		$	394		$	—
Subtotal		143			394			—
With an allowance recorded:
Real Estate Loans
Commercial		2,001			2,001			417
Subtotal		2,001			2,001			417
Total:
Real Estate Loans:
Commercial		2,144			2,395			417
Total Impaired Loans	$	2,144		$	2,395		$	417

The following table presents the average recorded investment in impaired loans and the related amount of interest income recognized during the three-month periods ended June 30, 2020 and 2019, respectively (in thousands):

	Average Recorded						Interest Income
	Investment						Recognized
	2020			2019			2020			2019
Real Estate Loans:
Commercial		2,094			601			3			24
Total	$	2,094		$	601		$	3		$	24

The following table presents the average recorded investment in impaired loans and the related amount of interest income recognized during the six-month periods ended June 30, 2020 and 2019, respectively (in thousands):

	Average Recorded						Interest Income
	Investment						Recognized
	2020			2019			2020			2019
Real Estate Loans:
Commercial		2,096			840			6			24
Total	$	2,096		$	840		$	6		$	24

Classes of the Loan Portfolio Summarized by the Aggregate Risk Rating

				Special						Doubtful
	Pass			Mention			Substandard			or Loss			Total
June 30, 2020
Commercial real estate loans	$	385,332		$	10,413		$	3,068		$	—		$	398,813
Commercial loans		194,475			273			169			—			194,917
Total	$	579,807		$	10,686		$	3,237		$	—		$	593,730

				Special						Doubtful
	Pass			Mention			Substandard			or Loss			Total
December 31, 2019
Commercial real estate loans	$	376,109		$	12,268		$	2,950		$	—		$	391,327
Commercial loans		133,695			248			207			—			134,150
Total	$	509,804		$	12,516		$	3,157		$	—		$	525,477

For residential real estate loans, construction loans and consumer loans, the Company evaluates credit quality based on the performance of the individual credits. The following table presents the recorded investment in the loan classes based on payment activity as of June 30, 2020 and December 31, 2019 (in thousands):

	Performing			Nonperforming			Total
June 30, 2020
Residential real estate loans	$	225,655		$	465		$	226,120
Construction		15,182			—			15,182
Consumer loans		155,405			291			155,696
Total	$	396,242		$	756		$	396,998

	Performing			Nonperforming			Total
December 31, 2019
Residential real estate loans	$	229,214		$	567		$	229,781
Construction		17,732			—			17,732
Consumer loans		151,607			79			151,686
Total	$	398,553		$	646		$	399,199

Loan Portfolio Summarized by the Past Due Status

	Current			31-60 Days Past Due			61-90 Days Past Due			Greater than 90 Days Past Due and still accruing			Non-Accrual			Total Past Due and Non-Accrual			Total Loans
June 30, 2020
Real Estate loans
Residential	$	225,328		$	245		$	82		$	-		$	465		$	792		$	226,120
Commercial		396,296			52			274			-			2,191			2,517			398,813
Construction		15,182			-			-			-			-			-			15,182
Commercial loans		194,823			69			-			-			25			94			194,917
Consumer loans		155,265			97			43			-			291			431			155,696
Total	$	986,894		$	463		$	399		$	-		$	2,972		$	3,834		$	990,728

	Current			31-60 Days Past Due			61-90 Days Past Due			Greater than 90 Days Past Due and still accruing			Non-Accrual			Total Past Due and Non-Accrual			Total Loans
December 31, 2019
Real Estate loans
Residential	$	228,242		$	727		$	245		$	-		$	567		$	1,539		$	229,781
Commercial		388,117			176			2,935			-			99			3,210			391,327
Construction		17,695			-			37			-			-			37			17,732
Commercial loans		134,018			82			-			-			50			132			134,150
Consumer loans		151,309			233			65			-			79			377			151,686
Total	$	919,381		$	1,218		$	3,282		$	-		$	795		$	5,295		$	924,676

Allowance for Loan Losses and Recorded Investment in Financing Receivables

(In thousands)	Residential Real Estate			Commercial Real Estate			Construction			Commercial			Consumer			Total
Beginning balance, December 31, 2019	$	1,552		$	4,687		$	95		$	949		$	1,226		$	8,509
Charge Offs		(1)			(33)			—			(18)			(192)			(244)
Recoveries		3			6			—			18			20			47
Provision for loan losses		98			1,419			(9)			127			365			2,000
Ending balance, June 30, 2020	$	1,652		$	6,079		$	86		$	1,076		$	1,419		$	10,312
Ending balance individually evaluated ‎for impairment	$	—		$	392		$	—		$	—		$	—		$	392
Ending balance collectively evaluated ‎for impairment	$	1,652		$	5,687		$	86		$	1,076		$	1,419		$	9,920

(In thousands)	Residential Real Estate			Commercial Real Estate			Construction			Commercial			Consumer			Total
Beginning balance, March 31, 2020	$	1,644		$	4,915		$	87		$	1,064		$	1,378		$	9,088
Charge Offs		-			-			-			(18)			(76)			(94)
Recoveries		1			2			-			8			7			18
Provision for loan losses		7			1,162			(1)			22			110			1,300
Ending balance, June 30, 2020	$	1,652		$	6,079		$	86		$	1,076		$	1,419		$	10,312

(In thousands)	Residential Real Estate			Commercial Real Estate			Construction			Commercial			Consumer			Total
Beginning balance, December 31, 2018	$	1,328		$	5,455		$	93		$	712		$	864		$	8,452
Charge Offs		(75)			(615)			—			(234)			(135)			(1,059)
Recoveries		15			14			—			21			35			85
Provision for loan losses		179			(160)			19			397			315			750
Ending balance, June 30, 2019	$	1,447		$	4,694		$	112		$	896		$	1,079		$	8,228
Ending balance individually evaluated ‎for impairment	$	—		$	—		$	—		$	—		$	—		$	—
Ending balance collectively evaluated ‎for impairment	$	1,447		$	4,694		$	112		$	896		$	1,079		$	8,228

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