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Loans Held For Investment (Tables)
 9 Months Ended
Mar. 31, 2013
Loans and Leases Receivable Disclosure [Abstract]  
Schedule of Loans Held for Investment
Loans held for investment consisted of the following:

 
March 31,
2013
June 30,
2012
Mortgage loans:
 
 
Single-family
$
415,616

$
439,024

Multi-family
256,640

278,057

Commercial real estate
94,779

95,302

Other
—

755

Commercial business loans
1,859

2,580

Consumer loans
448

506

Total loans held for investment, gross
769,342

816,224

 
 
 
Deferred loan costs, net
1,925

2,095

Allowance for loan losses
(16,826
)
(21,483
)
Total loans held for investment, net
$
754,441

$
796,836
Schedule of Loans Held for Investment, Contractual Repricing
 
Adjustable Rate
 
 
(In Thousands)
Within One Year
After
One Year
Through 3 Years
After
3 Years
Through 5 Years
After
5 Years
Through 10 Years
Fixed Rate
Total
Mortgage loans:
 
 
 
 
 
 
Single-family
$
376,586

$
15,980

$
7,665

$
1,828

$
13,557

$
415,616

Multi-family
153,313

11,460

73,486

6,811

11,570

256,640

Commercial real estate
47,063

2,445

29,937

781

14,553

94,779

Commercial business loans
884

—

—

—

975

1,859

Consumer loans
430

—

—

—

18

448

Total loans held for investment, gross
$
578,276

$
29,885

$
111,088

$
9,420

$
40,673

$
769,342
Schedule of Allowance for Loan Losses
The following tables summarize the Corporation’s allowance for loan losses at March 31, 2013 and June 30, 2012:

(In Thousands)
March 31,
2013
June 30,
2012
Collectively evaluated for impairment:
 
 
Mortgage loans:
 
 
Single-family
$
11,319

$
15,189

Multi-family
3,834

3,524

Commercial real estate
1,325

1,810

Other
—

7

Commercial business loans
96

169

Consumer loans
12

13

Total collectively evaluated allowance
16,586

20,712

 
 
 
Individually evaluated for impairment:
 
 
Mortgage loans:
 
 
Single-family
233

744

Multi-family
—

27

Commercial business loans
7

—

Total individually evaluated allowance
240

771

Total loan loss allowance
$
16,826

$
21,483


The following table is provided to disclose additional details on the Corporation’s allowance for loan losses (dollars in thousands):

 
For the Quarter Ended
March 31,
For the Nine Months Ended
March 31,
(Dollars in Thousands)
2013
2012
2013
2012
 
 
 
 
 
Allowance at beginning of period
$
18,530

$
26,901

$
21,483

$
30,482

 
 
 
 
 
(Recovery) provision for loan losses
(517
)
1,622

39

3,726

 
 
 
 
 
Recoveries:
 

 

 

 

Mortgage loans:
 

 

 

 

Single-family
374

33

537

337

Construction
—

28

—

28

Consumer loans
—

—

2

—

Total recoveries
374

61

539

365

 
 
 
 
 
Charge-offs:
 

 

 

 

Mortgage loans:
 

 

 

 

Single-family
(1,139
)
(3,081
)
(4,810
)
(9,043
)
Multi-family
—

(534
)
—

(534
)
Commercial real estate
(260
)
(49
)
(260
)
(49
)
Other
(159
)
(400
)
(159
)
(400
)
Commercial business loans
—

(256
)
—

(256
)
Consumer loans
(3
)
(4
)
(6
)
(31
)
Total charge-offs
(1,561
)
(4,324
)
(5,235
)
(10,313
)
 
 
 
 
 
Net charge-offs
(1,187
)
(4,263
)
(4,696
)
(9,948
)
Balance at end of period
$
16,826

$
24,260

$
16,826

$
24,260

 
 

 

 

 

Allowance for loan losses as a percentage of gross loans
     held for investment
2.18
%
2.86
%
2.18
%
2.86
%
Net charge-offs as a percentage of average loans outstanding
     during the period (annualized)
0.49
%
1.64
%
0.62
%
1.23
%
Allowance for loan losses as a percentage of gross non-
     performing loans at the end of the period
73.01
%
57.34
%
73.01
%
57.34
%
Schedule of Recorded Investment in Non-Performing Loans
The following tables identify the Corporation’s total recorded investment in non-performing loans by type, net of allowance for loan losses at March 31, 2013 and June 30, 2012:

 
 
 
(In Thousands)
March 31, 2013
 
Recorded
Investment
Allowance
for Loan
Losses (1)
 
Net
Investment
Mortgage loans:
 
 
 
Single-family:
 
 
 
With a related allowance
$
8,770

$
(2,044
)
$
6,726

Without a related allowance (2)
8,428

—

8,428

Total single-family loans
17,198

(2,044
)
15,154

 
 
 
 
Multi-family:
 
 
 
With a related allowance
2,211

(552
)
1,659

Total multi-family loans
2,211

(552
)
1,659

 
 
 
 
Commercial real estate:
 
 
 
With a related allowance
1,424

(214
)
1,210

Without a related allowance (2)
1,975

—

1,975

Total commercial real estate loans
3,399

(214
)
3,185

 
 
 
 
Commercial business loans:
 
 
 
With a related allowance
237

(40
)
197

Total commercial business loans
237

(40
)
197

 
 
 
 
Total non-performing loans
$
23,045

$
(2,850
)
$
20,195


(1) 
Consists of collectively and individually evaluated allowances, specifically assigned to the individual loan.
(2) 
There was no related allowance for loan losses because the loans have been charged-off to their fair value or the fair value of the collateral is higher than the loan balance.
 
 
 
(In Thousands)
June 30, 2012
 
Recorded
Investment
Allowance
for Loan
Losses (1)
 
Net
Investment
Mortgage loans:
 
 
 
Single-family:
 
 
 
With a related allowance
$
26,214

$
(5,476
)
$
20,738

Without a related allowance (2)
8,352

—

8,352

Total single-family loans
34,566

(5,476
)
29,090

 
 
 
 
Multi-family:
 
 
 
With a related allowance
1,806

(349
)
1,457

Total multi-family loans
1,806

(349
)
1,457

 
 
 
 
Commercial real estate:
 
 
 
With a related allowance
3,820

(573
)
3,247

Total commercial real estate loans
3,820

(573
)
3,247

 
 
 
 
Other:
 
 
 
Without a related allowance (2)
522

—

522

Total other loans
522

—

522

 
 
 
 
Commercial business loans:
 
 
 
With a related allowance
246

(74
)
172

Total commercial business loans
246

(74
)
172

 
 
 
 
Total non-performing loans
$
40,960

$
(6,472
)
$
34,488


(1) 
Consists of collectively and individually evaluated allowances, specifically assigned to the individual loan.
(2) 
There was no related allowance for loan losses because the loans have been charged-off to their fair value or the fair value of the collateral is higher than the loan balance.
Schedule of Aging Analysis of Non-Performing Loans
The following table describes the aging analysis (length of time on non-performing status) of non-performing loans, net of allowance for loan losses or charge offs, as of March 31, 2013:

 
(In Thousands)
3 Months or
Less
Over 3 to
6 Months
Over 6 to
12 Months
Over 12
Months
 
Total
Mortgage loans:
 
 
 
 
 
Single-family
$
1,811

$
3,650

$
3,094

$
6,599

$
15,154

Multi-family
383

—

900

376

1,659

Commercial real estate
—

213

2,493

479

3,185

Commercial business loans
28

—

—

169

197

Total
$
2,222

$
3,863

$
6,487

$
7,623

$
20,195
Schedule of Troubled Debt Restructurings by Nonaccrual Versus Accrual Status
The following table summarizes at the dates indicated the restructured loan balances, net of allowance for loan losses, by loan type and non-accrual versus accrual status:

(In Thousands)
March 31, 2013
June 30, 2012
Restructured loans on non-accrual status:
 
 
Mortgage loans:
 
 
Single-family
$
5,850

$
11,995

Multi-family
759

490

Commercial real estate
1,227

2,483

Other
—

522

Commercial business loans
163

165

Total
7,999

15,655

 
 
 
Restructured loans on accrual status:
 

 

Mortgage loans:
 

 

Single-family
2,575

6,148

Multi-family
2,755

3,266

Commercial business loans
—

33

Total
5,330

9,447

Total restructured loans
$
13,329

$
25,102


The following table shows the restructured loans by type, net of allowance for loan losses, at March 31, 2013 and June 30, 2012:

 
 
 
(In Thousands)
March 31, 2013
 
Recorded
Investment
Allowance
for Loan
Losses (1)
 
Net
Investment
Mortgage loans:
 
 
 
Single-family:
 
 
 
With a related allowance
$
3,500

$
(526
)
$
2,974

Without a related allowance (2)
5,451

—

5,451

Total single-family loans
8,951

(526
)
8,425

 
 
 
 
Multi-family:
 
 
 
With a related allowance
1,012

(253
)
759

Without a related allowance (2)
2,755

—

2,755

Total multi-family loans
3,767

(253
)
3,514

 
 
 
 
Commercial real estate:
 
 
 
With a related allowance
880

(132
)
748

Without a related allowance (2)
479

—

479

Total commercial real estate loans
1,359

(132
)
1,227

 
 
 
 
Commercial business loans:
 
 
 
With a related allowance
187

(24
)
163

Total commercial business loans
187

(24
)
163

 
 
 
 
Total restructured loans
$
14,264

$
(935
)
$
13,329


(1) 
Consists of collectively and individually evaluated allowances, specifically assigned to the individual loan.
(2) 
There was no related allowance for loan losses because the loans have been charged-off to their fair value or the fair value of the collateral is higher than the loan balance.
 
 
 
(In Thousands)
June 30, 2012
 
Recorded
Investment
Allowance
for Loan
Losses (1)
 
Net
Investment
Mortgage loans:
 
 
 
Single-family:
 
 
 
With a related allowance
$
9,465

$
(486
)
$
8,979

Without a related allowance (2)
9,164

—

9,164

Total single-family loans
18,629

(486
)
18,143

 
 
 
 
Multi-family:
 
 
 
With a related allowance
517

(27
)
490

Without a related allowance (2)
3,266

—

3,266

Total multi-family loans
3,783

(27
)
3,756

 
 
 
 
Commercial real estate:
 
 
 
With a related allowance
2,921

(438
)
2,483

Total commercial real estate loans
2,921

(438
)
2,483

 
 
 
 
Other:
 
 
 
Without a related allowance (2)
522

—

522

Total other loans
522

—

522

 
 
 
 
Commercial business loans:
 
 
 
With a related allowance
236

(71
)
165

Without a related allowance (2)
33

—

33

Total commercial business loans
269

(71
)
198

Total restructured loans
$
26,124

$
(1,022
)
$
25,102


(1) 
Consists of collectively and individually evaluated allowances, specifically assigned to the individual loan.
(2) 
There was no related allowance for loan losses because the loans have been charged-off to their fair value or the fair value of the collateral is higher than the loan balance.