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Loans Receivable | 12 Months Ended
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Mar. 31, 2015
Notes |
Loans Receivable | 5. LOANS RECEIVABLE Loans receivable at March 31, 2015 and 2014 are reported net of deferred loan fees totaling $2.2 million and $2.0 million, respectively. Loans receivable, excluding loans held for sale, consisted of the following at the dates indicated (in thousands):
|  | March 31, 2015 |  |  | March 31, 2014
Commercial and construction |  |  |  |  |
Commercial business | $ | 77,186 |  | $ | 71,632
Other real estate mortgage (1) |  | 345,506 |  |  | 324,881
Real estate construction |  | 30,498 |  |  | 19,482
Total commercial and construction |  | 453,190 |  |  | 415,995
Consumer |  |  |  |  |
Real estate one-to-four family |  | 89,801 |  |  | 93,007
Other installment |  | 36,781 |  |  | 24,486
Total consumer |  | 126,582 |  |  | 117,493
Total loans |  | 579,772 |  |  | 533,488
Less: Allowance for loan losses |  | 10,762 |  |  | 12,551
Loans receivable, net | $ | 569,010 |  | $ | 520,937
(1) Other real estate mortgage consists of commercial real estate, land and multi-family loans.
The Company originates commercial business, commercial real estate, multi-family real estate, real estate construction, residential real estate and other consumer loans. At March 31, 2015 and 2014, 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, 2015, loans carried at $349.6 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 for the periods indicated (in thousands):
| Year Ended March 31, |
| 2015 |  | 2014 |  | 2013 |
Beginning balance | $ | 854 |  | $ | 1,609 |  | $ | 1,907 |
Originations |  | 511 |  |  | - |  |  | 226 |
Principal repayments |  | (132 | ) |  | (755 | ) |  | (524 | )
Ending balance | $ | 1,233 |  | $ | 854 |  | $ | 1,609 |

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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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