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LOANS RECEIVABLE | 9 Months Ended
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Dec. 31, 2018
Receivables [Abstract] |
LOANS RECEIVABLE |
7. | LOANS RECEIVABLE
Loans receivable as of December 31, 2018 and March 31, 2018 are reported net of deferred loan fees totaling $4.2 million and $3.6 million, respectively. Loans receivable are also reported net of discounts and premiums totaling $1.7 million and $1.8 million as of December 31, 2018, respectively, compared to $2.2 million and $2.0 million, respectively, as of March 31, 2018. Loans receivable, excluding loans held for sale, consisted of the following at the dates indicated (in thousands):
|  | December 31, 2018 |  |  | March 31, 2018 |
Commercial and construction |  |  |  |  |  |
Commercial business |  | $ | 154,360 |  |  | $ | 137,672 |
Commercial real estate |  |  | 468,361 |  |  |  | 450,597 |
Land |  |  | 18,506 |  |  |  | 15,337 |
Multi-family |  |  | 54,930 |  |  |  | 63,080 |
Real estate construction |  |  | 76,518 |  |  |  | 39,584 |
Total commercial and construction |  |  | 772,675 |  |  |  | 706,270 |
Consumer |  |  |  |  |  |  |  |
Real estate one-to-four family |  |  | 86,240 |  |  |  | 90,109 |
Other installment (1) |  |  | 9,721 |  |  |  | 14,997 |
Total consumer |  |  | 95,961 |  |  |  | 105,106 |
Total loans |  |  | 868,636 |  |  |  | 811,376 |
Less: Allowance for loan losses |  |  | 11,502 |  |  |  | 10,766 |
Loans receivable, net |  | $ | 857,134 |  |  | $ | 800,610 |
(1) Consists primarily of purchased automobile loans totaling $7.2 million and $12.9 million at December 31, 2018 and March 31, 2018, respectively. |
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 December 31, 2018, loans carried at $520.0 million were pledged as collateral to the Federal Home Loan Bank of Des Moines ("FHLB") and Federal Reserve Bank of San Francisco ("FRB") pursuant to borrowing agreements. Most of the Bank's business activities are with customers located in the states of Washington and Oregon. Loans and extensions of credit outstanding at one time to one borrower are generally limited by federal regulation to 15% of the Bank's shareholders' equity, excluding accumulated other comprehensive income (loss). As of December 31, 2018 and March 31, 2018, the Bank had no loans to any one borrower in excess of the regulatory limit.

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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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- References No definition available. + Details
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