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LOANS RECEIVABLE, NET AND RELATED ALLOWANCE FOR LOAN LOSSES (Tables)

9 Months Ended

Jun. 30, 2020

Receivables [Abstract]

Schedule of loans receivable, net

Loans receivable, net were comprised of the following:

		June 30,				September 30,
		2020				2019
		(In thousands)
One-to-four family residential		$	213,415			$	190,415
Commercial real estate			249,148				232,544
Construction			23,350				28,451
Home equity lines of credit			20,821				17,832
Commercial business			101,081				48,769
Other			4,654				4,990
Total loans receivable			612,469				523,001
Net deferred loan costs			(1,919	)			104
Allowance for loan losses			(6,000	)			(4,888	)
Total loans receivable, net		$	604,550			$	518,217

Schedule of impaired loans

The following tables present impaired loans by class, segregated by those for which a specific allowance was required and charged-off and those for which a specific allowance was not necessary at the dates presented:

										Impaired
										Loans with
		Impaired Loans with								No Specific
		Specific Allowance								Allowance				Total Impaired Loans
																		Unpaid
		Recorded				Related				Recorded				Recorded				Principal
June 30, 2020		Investment				Allowance				Investment				Investment				Balance
		(In thousands)
One-to-four family residential		$	—			$	—			$	2,170			$	2,170			$	2,170
Commercial real estate			599				46				2,723				3,322				3,322
Construction			2,306				175				2,835				5,141				5,206
Commercial business			—				—				1,326				1,326				1,326
Total impaired loans		$	2,905			$	221			$	9,054			$	11,959			$	12,024

										Impaired
										Loans with
		Impaired Loans with								No Specific
		Specific Allowance								Allowance				Total Impaired Loans
																		Unpaid
		Recorded				Related				Recorded				Recorded				Principal
September 30, 2019		Investment				Allowance				Investment				Investment				Balance
		(In thousands)
One-to-four family residential		$	—			$	—			$	1,405			$	1,405			$	1,405
Commercial real estate			—				—				4,593				4,593				4,593
Construction			—				—				2,900				2,900				2,900
Commercial business			—				—				1,456				1,456				1,456
Total impaired loans		$	—			$	—			$	10,354			$	10,354			$	10,354

Schedule of average recorded investment in impaired loans

The following tables present the average recorded investment in impaired loans for the periods indicated. There was no interest income recognized on impaired loans during the periods presented.

		Three Months				Nine Months
		Ended June 30, 2020				Ended June 30, 2020
		(In thousands)
One-to-four family residential		$	2,174			$	1,914
Commercial real estate			3,345				3,104
Construction			5,174				4,416
Commercial business			1,365				1,402
Average investment in impaired loans		$	12,058			$	10,836

		Three Months				Nine Months
		Ended June 30, 2019				Ended June 30, 2019
		(In thousands)
One-to-four family residential		$	1,344			$	1,273
Commercial real estate			4,133				4,067
Construction			2,900				2,900
Home equity lines of credit			20				32
Commercial business			533				591
Average investment in impaired loans		$	8,930			$	8,863

Schedule of loan portfolio summarized by Bank's internal risk rating system

The following tables present the classes of the loan portfolio summarized by the aggregate Pass and the criticized categories of Special Mention, Substandard and Doubtful within the Bank’s internal risk rating system at the dates presented:

						Special
		Pass				Mention				Substandard				Doubtful				Total
		(In  thousands)
June 30, 2020
One-to-four family residential		$	212,150			$	—			$	1,265			$	—			$	213,415
Commercial real estate			246,804				611				1,733				—				249,148
Construction			18,209				—				5,141				—				23,350
Home equity lines of credit			20,821				—				—				—				20,821
Commercial business			99,909				13				1,159				—				101,081
Other			4,654				—				—				—				4,654
Total		$	602,547			$	624			$	9,298			$	—			$	612,469

						Special
		Pass				Mention				Substandard				Doubtful				Total
		(In  thousands)
September 30, 2019
One-to-four family residential		$	189,938			$	—			$	477			$	—			$	190,415
Commercial real estate			228,156				1,409				2,979				—				232,544
Construction			25,551				—				2,900				—				28,451
Home equity lines of credit			17,832				—				—				—				17,832
Commercial business			47,541				—				1,228				—				48,769
Other			4,990				—				—				—				4,990
Total		$	514,008			$	1,409			$	7,584			$	—			$	523,001

Schedule of aging analysis of past due loans, segregated by class of loans

The following tables present the classes of the loan portfolio summarized by the aging categories of performing loans and nonaccrual loans at the dates presented:

						30-59				60-89
						Days				Days				90 Days +				Total				Non-				Total
		Current				Past Due				Past Due				Past Due				Past Due				Accrual				Loans
		(Dollars in  thousands)
June 30, 2020
One-to-four family residential		$	212,510			$	—			$	—			$	905			$	905			$	905			$	213,415
Commercial real estate			246,527				—				888				1,733				2,621				1,733				249,148
Construction			18,209				—				—				5,141				5,141				5,141				23,350
Home equity lines of credit			20,821				—				—				—				—				—				20,821
Commercial business			99,655				167				134				1,125				1,426				1,125				101,081
Other			4,651				—				3				—				3				—				4,654
Total		$	602,373			$	167			$	1,025			$	8,904			$	10,096			$	8,904			$	612,469

						30-59				60-89
						Days				Days				90 Days +				Total				Non-				Total
		Current				Past Due				Past Due				Past Due				Past Due				Accrual				Loans
		(In  thousands)
September 30, 2019
One-to-four family residential		$	190,301			$	—			$	—			$	114			$	114			$	114			$	190,415
Commercial real estate			229,331				503				58				2,652				3,213				2,652				232,544
Construction			25,551				—				—				2,900				2,900				2,900				28,451
Home equity lines of credit			17,832				—				—				—				—				—				17,832
Commercial business			47,541				—				—				1,228				1,228				1,228				48,769
Other			4,990				—				—				—				—				—				4,990
Total		$	515,546			$	503			$	58			$	6,894			$	7,455			$	6,894			$	523,001

Schedule of activity in the allowance for loan losses by portfolio segment

The following table summarizes the ALL by loan category and the related activity for the nine months ended June 30, 2020:

		One-to-Four												Home Equity
		Family				Commercial								Lines of				Commercial
		Residential				Real Estate				Construction				Credit				Business				Other				Unallocated				Total
		(Dollars in  thousands)
Balance- September 30, 2019		$	731			$	2,066			$	511			$	138			$	1,184			$	8			$	250			$	4,888
Charge-offs			—				—				—				—				—				—				—				—
Recoveries			2				—				—				—				—				—				—				2
Provision (credit)			(26	)			(147	)			63				2				311				(6	)			13				210
Balance- December 31, 2019		$	707			$	1,919			$	574			$	140			$	1,495			$	2			$	263			$	5,100
Charge-offs			—				—				—				—				—				—				—				—
Recoveries			5				—				—				—				—				—				—				5
Provision (credit)			227				457				70				42				(287	)			(2	)			(87	)			420
Balance- March 31, 2020		$	939			$	2,376			$	644			$	182			$	1,208			$	—			$	176			$	5,525
Charge-offs			—				—				(65	)			—				—				—				—				(65	)
Recoveries			2				—				—				0				100				—				—				102
Provision (credit)			128				241				108				0				(47	)			1				7				438
Balance- June 30, 2020		$	1,069			$	2,617			$	687			$	182			$	1,261			$	1			$	183			$	6,000

The following table summarizes the ALL by loan category and the related activity for the nine months ended June 30, 2019:

		One-to-Four												Home Equity
		Family				Commercial								Lines of				Commercial
		Residential				Real Estate				Construction				Credit				Business				Other				Unallocated				Total
		(In  thousands)
Balance- September 30, 2018		$	687			$	1,540			$	493			$	109			$	1,151			$	25			$	195			$	4,200
Charge-offs			—				—				—				—				—				—				—				—
Recoveries			—				—				—				1				—				—				—				1
Provision (credit)			11				50				181				11				31				(21	)			(62	)			201
Balance- December 31, 2018		$	698			$	1,590			$	674			$	121			$	1,182			$	4			$	133			$	4,402
Charge-offs			—				—				—				—				—				—				—				—
Recoveries			92				—				—				—				—				—				—				92
Provision (credit)			(80	)			95				142				17				(78	)			(1	)			11				106
Balance- March 31, 2019		$	710			$	1,685			$	816			$	138			$	1,104			$	3			$	144			$	4,600
Charge-offs			—				(1	)			—				—				(100	)			—				—				(101	)
Recoveries			—				—				—				—				—				—				—				—
Provision (credit)			3				219				(52	)			1				26				1				(4	)			194
Balance- June 30, 2019		$	713			$	1,903			$	764			$	139			$	1,030			$	4			$	140			$	4,693

The following tables summarize the ALL by loan category, segregated into the amount required for loans individually evaluated for impairment and the amount required for loans collectively evaluated for impairment as of June 30, 2020 and September 30, 2019:  

		One-to-Four												Home Equity
		Family				Commercial								Lines of				Commercial
		Residential				Real Estate				Construction				Credit				Business				Other				Unallocated				Total
		(Dollars in  thousands)
Allowance for Loan Losses:
Balance - June 30, 2020		$	1,069			$	2,617			$	687			$	182			$	1,261			$	1			$	183			$	6,000
Individually evaluated
for impairment			—				46				175				—				—				—				—				221
Collectively evaluated
for impairment			1,069				2,571				512				182				1,261				1				183				5,779
Loans receivable:
Balance - June 30, 2020		$	213,415			$	249,148			$	23,350			$	20,821			$	101,081			$	4,654			$	—			$	612,469
Individually evaluated
for impairment			2,170				3,322				5,141				—				1,326				—				—				11,959
Collectively evaluated
for impairment			211,245				245,826				18,209				20,821				99,755				4,654				—				600,510

		One-to-Four												Home Equity
		Family				Commercial								Lines of				Commercial
		Residential				Real Estate				Construction				Credit				Business				Other				Unallocated				Total
		(In  thousands)
Allowance for Loan Losses:
Balance - September 30, 2019		$	731			$	2,066			$	511			$	138			$	1,184			$	8			$	250			$	4,888
Individually evaluated
for impairment			—				—				—				—				—				—				—				—
Collectively evaluated
for impairment			731				2,066				511				138				1,184				8				250				4,888
Loans receivable:
Balance - September 30, 2019		$	190,415			$	232,544			$	28,451			$	17,832			$	48,769			$	4,990			$	—			$	523,001
Individually evaluated
for impairment			1,405				4,593				2,900				—				1,456				—				—				10,354
Collectively evaluated
for impairment			189,010				227,951				25,551				17,832				47,313				4,990				—				512,647

Schedule of troubled debt restructurings

Nine Months Ended June 30, 2019
		Number of				Investment Before				Investment After
		Loans				TDR Modification				TDR Modification
		(Dollars in thousands)
One-to four-family residential			1				260				365
Total			1			$	260			$	365

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