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Loans Held For Investment (Tables) | 3 Months Ended
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Sep. 30, 2013
Loans and Leases Receivable Disclosure [Abstract] |
Schedule of Loans Held for Investment | Loans held for investment consisted of the following:
(In Thousands) | September 30, 2013 | June 30, 2013
Mortgage loans: |  |
Single-family | $ | 391,888 |  | $ | 404,341 |
Multi-family | 273,847 |  | 262,316 |
Commercial real estate | 91,417 |  | 92,488 |
Construction | 292 |  | 292 |
Commercial business loans | 1,386 |  | 1,687 |
Consumer loans | 423 |  | 437 |
Total loans held for investment, gross | 759,253 |  | 761,561 |
Undisbursed loan funds | (271 | ) | (292 | )
Deferred loan costs, net | 2,079 |  | 2,063 |
Allowance for loan losses | (12,105 | ) | (14,935 | )
Total loans held for investment, net | $ | 748,956 |  | $ | 748,397 |
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 | $ | 354,350 |  | $ | 15,149 |  | $ | 4,285 |  | $ | 2,906 |  | $ | 15,198 |  | $ | 391,888 |
Multi-family | 130,479 |  | 18,898 |  | 98,629 |  | 16,471 |  | 9,370 |  | 273,847 |
Commercial real estate | 40,272 |  | 2,677 |  | 34,374 |  | 1,400 |  | 12,694 |  | 91,417 |
Construction | 292 |  | — |  | — |  | — |  | — |  | 292 |
Commercial business loans | 648 |  | — |  | — |  | — |  | 738 |  | 1,386 |
Consumer loans | 407 |  | — |  | — |  | — |  | 16 |  | 423 |
Total loans held for investment, gross | $ | 526,448 |  | $ | 36,724 |  | $ | 137,288 |  | $ | 20,777 |  | $ | 38,016 |  | $ | 759,253 |
Schedule of Allowance for Loan Losses | The following tables summarize the Corporation’s allowance for loan losses at September 30, 2013 and June 30, 2013:
(In Thousands) | September 30, 2013 | June 30, 2013
Collectively evaluated for impairment: |  |
Mortgage loans: |  |
Single-family | $ | 7,372 |  | $ | 8,949 |
Multi-family | 3,600 |  | 4,689 |
Commercial real estate | 1,014 |  | 1,053 |
Commercial business loans | 66 |  | 78 |
Consumer loans | 12 |  | 12 |
Total collectively evaluated allowance | 12,064 |  | 14,781 |
Individually evaluated for impairment: |  |
Mortgage loans: |  |
Single-family | — |  | 113 |
Commercial business loans | 41 |  | 41 |
Total individually evaluated allowance | 41 |  | 154 |
Total loan loss allowance | $ | 12,105 |  | $ | 14,935 |
The following table is provided to disclose additional details on the Corporation’s allowance for loan losses:
| For the Quarters Ended September 30,
(Dollars in Thousands) | 2013 | 2012
Allowance at beginning of period | $ | 14,935 |  | $ | 21,483 |
(Recovery) provision for loan losses | (942 | ) | 533 |
Recoveries: |  |  |  |
Mortgage loans: |  |  |  |
Single-family | 168 |  | 70 |
Multi-family | 11 |  | — |
Consumer loans | 1 |  | 1 |
Total recoveries | 180 |  | 71 |
Charge-offs: |  |  |  |
Mortgage loans: |  |  |  |
Single-family | (690 | ) | (1,967 | )
Multi-family | (1,378 | ) | — |
Consumer loans | — |  | (2 | )
Total charge-offs | (2,068 | ) | (1,969 | )
Net charge-offs | (1,888 | ) | (1,898 | )
Balance at end of period | $ | 12,105 |  | $ | 20,118 |
Allowance for loan losses as a percentage of gross loans held for investment | 1.59 | % | 2.52 | %
Net charge-offs as a percentage of average loans receivable, net, during the period (annualized) | 0.82 | % | 0.72 | %
Allowance for loan losses as a percentage of gross non-performing loans at the end of the period | 58.57 | % | 58.64 | %
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 September 30, 2013 and June 30, 2013:
(In Thousands) | September 30, 2013
Recorded Investment | Allowance for Loan Losses (1) | Net Investment
Mortgage loans: |  |  |
Single-family: |  |  |
With a related allowance | $ | 6,519 |  | $ | (1,689 | ) | $ | 4,830 |
Without a related allowance (2) | 5,681 |  | — |  | 5,681 |
Total single-family loans | 12,200 |  | (1,689 | ) | 10,511 |
Multi-family: |  |  |
With a related allowance | 1,196 |  | (365 | ) | 831 |
Without a related allowance (2) | 2,435 |  | — |  | 2,435 |
Total multi-family loans | 3,631 |  | (365 | ) | 3,266 |
Commercial real estate: |  |  |
Without a related allowance (2) | 4,645 |  | — |  | 4,645 |
Total commercial real estate loans | 4,645 |  | — |  | 4,645 |
Commercial business loans: |  |  |
With a related allowance | 190 |  | (60 | ) | 130 |
Total commercial business loans | 190 |  | (60 | ) | 130 |
Total non-performing loans | $ | 20,666 |  | $ | (2,114 | ) | $ | 18,552 |
(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 individual loan balance.
(In Thousands) | June 30, 2013
Recorded Investment | Allowance for Loan Losses (1) | Net Investment
Mortgage loans: |  |  |
Single-family: |  |  |
With a related allowance | $ | 9,908 |  | $ | (2,350 | ) | $ | 7,558 |
Without a related allowance (2) | 5,665 |  | — |  | 5,665 |
Total single-family loans | 15,573 |  | (2,350 | ) | 13,223 |
Multi-family: |  |  |
With a related allowance | 4,519 |  | (1,320 | ) | 3,199 |
Without a related allowance (2) | 558 |  | — |  | 558 |
Total multi-family loans | 5,077 |  | (1,320 | ) | 3,757 |
Commercial real estate: |  |  |
Without a related allowance (2) | 4,572 |  | — |  | 4,572 |
Total commercial real estate loans | 4,572 |  | — |  | 4,572 |
Commercial business loans: |  |  |
With a related allowance | 189 |  | (59 | ) | 130 |
Total commercial business loans | 189 |  | (59 | ) | 130 |
Total non-performing loans | $ | 25,411 |  | $ | (3,729 | ) | $ | 21,682 |
(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 individual 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 September 30, 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 | $ | 1,064 |  | $ | 477 |  | $ | 2,218 |  | $ | 6,752 |  | $ | 10,511 |
Multi-family | 166 |  | 1,716 |  | 315 |  | 1,069 |  | 3,266 |
Commercial real estate | 2,049 |  | 1,180 |  | 247 |  | 1,169 |  | 4,645 |
Commercial business loans | 9 |  | — |  | — |  | 121 |  | 130 |
Total | $ | 3,288 |  | $ | 3,373 |  | $ | 2,780 |  | $ | 9,111 |  | $ | 18,552 |
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) | September 30, 2013 | June 30, 2013
Restructured loans on non-accrual status: |  |
Mortgage loans: |  |
Single-family | $ | 3,740 |  | $ | 5,094 |
Multi-family | 2,109 |  | 2,521 |
Commercial real estate | 880 |  | 1,354 |
Commercial business loans | 115 |  | 123 |
Total | 6,844 |  | 9,092 |
Restructured loans on accrual status: |  |  |  |
Mortgage loans: |  |  |  |
Single-family | 815 |  | 434 |
Total | 815 |  | 434 |
Total restructured loans | $ | 7,659 |  | $ | 9,526 |
The following table shows the restructured loans by type, net of allowance for loan losses, at September 30, 2013 and June 30, 2013:
(In Thousands) | September 30, 2013
Recorded Investment | Allowance for Loan Losses (1) | Net Investment
Mortgage loans: |  |  |
Single-family: |  |  |
With a related allowance | $ | 1,456 |  | $ | (420 | ) | $ | 1,036 |
Without a related allowance (2) | 3,519 |  | — |  | 3,519 |
Total single-family loans | 4,975 |  | (420 | ) | 4,555 |
Multi-family: |  |  |
With a related allowance | 508 |  | (193 | ) | 315 |
Without a related allowance (2) | 1,794 |  | — |  | 1,794 |
Total multi-family loans | 2,302 |  | (193 | ) | 2,109 |
Commercial real estate: |  |  |
Without a related allowance (2) | 880 |  | — |  | 880 |
Total commercial real estate loans | 880 |  | — |  | 880 |
Commercial business loans: |  |  |
With a related allowance | 169 |  | (54 | ) | 115 |
Total commercial business loans | 169 |  | (54 | ) | 115 |
Total restructured loans | $ | 8,326 |  | $ | (667 | ) | $ | 7,659 |
(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 individual loan balance.
(In Thousands) | June 30, 2013
Recorded Investment | Allowance for Loan Losses (1) | Net Investment
Mortgage loans: |  |  |
Single-family: |  |  |
With a related allowance | $ | 3,774 |  | $ | (795 | ) | $ | 2,979 |
Without a related allowance (2) | 2,549 |  | — |  | 2,549 |
Total single-family loans | 6,323 |  | (795 | ) | 5,528 |
Multi-family: |  |  |
With a related allowance | 3,266 |  | (1,006 | ) | 2,260 |
Without a related allowance (2) | 261 |  | — |  | 261 |
Total multi-family loans | 3,527 |  | (1,006 | ) | 2,521 |
Commercial real estate: |  |  |
Without a related allowance (2) | 1,354 |  | — |  | 1,354 |
Total commercial real estate loans | 1,354 |  | — |  | 1,354 |
Commercial business loans: |  |  |
With a related allowance | 180 |  | (57 | ) | 123 |
Total commercial business loans | 180 |  | (57 | ) | 123 |
Total restructured loans | $ | 11,384 |  | $ | (1,858 | ) | $ | 9,526 |
(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 individual loan balance.

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