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Loans Receivable
3 Months Ended
Sep. 30, 2011
Loans Receivable 
Loans Receivable

 

7.  

LOANS RECEIVABLE

 

Loans receivable, excluding loans held for sale, consisted of the following (in thousands):

 

 

 

September 30,

2011

 

 

March 31,

2011

 

Commercial and construction

 

 

 

 

 

 

 Commercial business

 

$

88,017

 

 

$

85,511

 

 Other real estate mortgage (1)

 

 

455,153

 

 

 

461,955

 

 Real estate construction

 

 

30,221

 

 

 

27,385

 

Total commercial and construction

 

 

573,391

 

 

 

574,851

 

 

 

 

 

 

 

 

 

 

Consumer

 

 

 

 

 

 

 

 

 Real estate one-to-four family

 

 

119,805

 

 

 

110,437

 

 Other installment

 

 

2,314

 

 

 

2,289

 

Total consumer

 

 

122,119

 

 

 

112,726

 

 

 

 

 

 

 

 

 

 

Total loans

 

 

695,510

 

 

 

687,577

 

 

 

 

 

 

 

 

 

 

Less:  Allowance for loan losses

 

 

14,672

 

 

 

14,968

 

Loans receivable, net

 

$

680,838

 

 

$

672,609

 

 

 

 

 

 

 

 

 

 

(1) Other real estate mortgage consists of commercial real estate, land and multi-family loan portfolios

 

 

The Company’s loan portfolio has very little exposure to sub-prime mortgage loans since the Company has not historically engaged in this type of lending.

 

Most of the Bank’s business activity is with customers located in the states of Washington and Oregon. Loans and extensions of credit outstanding at one time to one borrower or a group of related borrowers are generally limited by federal regulation to 15% of the Bank’s shareholders’ equity, excluding accumulated other comprehensive loss. As of September 30, 2011 and March 31, 2011, the Bank had no loans to any one borrower in excess of the regulatory limit.