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Loans Receivable | 12 Months Ended
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Mar. 31, 2014
Notes |
Loans Receivable | 5. LOANS RECEIVABLE Loans receivable at March 31, 2014 and 2013 are reported net of deferred loan fees totaling $2.0 million. Loans receivable, excluding loans held for sale, consisted of the following (in thousands):
|  | March 31, 2014 |  |  | March 31, 2013
Commercial and construction |  |  |  |  |
Commercial business | $ | 71,632 |  | $ | 71,935
Other real estate mortgage |  | 324,881 |  |  | 355,397
Real estate construction |  | 19,482 |  |  | 9,675
Total commercial and construction |  | 415,995 |  |  | 437,007
Consumer |  |  |  |  |
Real estate one-to-four family |  | 93,007 |  |  | 97,140
Other installment |  | 24,486 |  |  | 1,865
Total consumer |  | 117,493 |  |  | 99,005
Total loans |  | 533,488 |  |  | 536,012
Less: |  |  |  |  |
Allowance for loan losses |  | 12,551 |  |  | 15,643
Loans receivable, net | $ | 520,937 |  | $ | 520,369
The Company originates commercial business, commercial real estate, multi-family real estate, real estate construction, residential real estate and consumer loans. At March 31, 2014 and 2013, the Company had no loans to foreign domiciled businesses or foreign countries, or loans related to highly leveraged transactions. Substantially all of the mortgage loans in the Company’s portfolio are secured by properties located in Washington and Oregon, and, accordingly, the ultimate collectibility of a substantial portion of the Company’s loan portfolio is susceptible to changes in the local economic conditions in these markets. The Company considers its loan portfolio to have very little exposure to sub-prime mortgage loans since the Company has not historically engaged in this type of lending. At March 31, 2014, loans carried at $335.4 million were pledged as collateral to the FHLB and FRB for borrowing arrangements. Aggregate loans to officers and directors, all of which are current, consist of the following (in thousands):
| Year Ended March 31, |
| 2014 |  | 2013 |  | 2012 |
Beginning balance | $ | 1,609 |  | $ | 1,907 |  | $ | 2,160 |
Originations |  | - |  |  | 226 |  |  | 1 |
Principal repayments |  | (755 | ) |  | (524 | ) |  | (254 | )
Ending balance | $ | 854 |  | $ | 1,609 |  | $ | 1,907 |

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- Definition The entire disclosure for claims held for amounts due a company, excluding disclosure for allowance for credit losses. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Also excludes disclosure for financing receivables. + References No definition available. + Details
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