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Loans Held For Investment (Tables)
 12 Months Ended
Jun. 30, 2014
Loans and Leases Receivable Disclosure [Abstract]  
Schedule of Loans Held for Investment
Loans held for investment consisted of the following at June 30, 2014 and 2013:

(In Thousands)
June 30, 2014
June 30,
2013
Mortgage loans:
 
 
Single-family
$
377,997

$
404,341

Multi-family
301,211

262,316

Commercial real estate
96,803

92,488

Construction
2,869

292

Commercial business loans
1,237

1,687

Consumer loans
306

437

Total loans held for investment, gross
780,423

761,561

 
 
 
Undisbursed loan funds
(1,090
)
(292
)
Deferred loan costs, net
2,552

2,063

Allowance for loan losses
(9,744
)
(14,935
)
Total loans held for investment, net
$
772,141

$
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
$
331,852

$
10,509

$
12,216

$
7,925

$
15,495

$
377,997

Multi-family
94,646

39,494

152,610

8,264

6,197

301,211

Commercial real estate
35,613

6,163

44,935

—

10,092

96,803

Construction
2,869

—

—

—

—

2,869

Commercial business loans
328

—

125

—

784

1,237

Consumer loans
294

—

—

—

12

306

Total loans held for investment, gross
$
465,602

$
56,166

$
209,886

$
16,189

$
32,580

$
780,423
Schedule of Allowance for Loan Losses
The following tables summarize the Corporation’s allowance for loan losses at June 30, 2014 and 2013:

(In Thousands)
June 30, 2014
June 30,
2013
Collectively evaluated for impairment:
 
 
Mortgage loans:
 
 
Single-family
$
5,476

$
8,949

Multi-family
3,142

4,689

Commercial real estate
989

1,053

Construction
35

—

Commercial business loans
51

78

Consumer loans
10

12

Total collectively evaluated allowance
9,703

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
$
9,744

$
14,935


The following summarizes the components of the net change in the allowance for loan losses for the periods indicated:

(In Thousands)
Year Ended June 30,
2014
 
2013
 
2012
 
 
 
 
 
 
 
 
Balance, beginning of year
$
14,935

 
$
21,483

 
$
30,482

 
(Recovery) provision for loan losses
(3,380
)
 
(1,499
)
 
5,777

 
Recoveries
929

 
762

 
375

 
Charge-offs
(2,740
)
 
(5,811
)
 
(15,151
)
 
Balance, end of year
$
9,744

 
$
14,935

 
$
21,483

 
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 or charge-offs at June 30, 2014 and 2013:

 
 
 
(In Thousands)
June 30, 2014
 
Recorded
Investment
Allowance
for Loan
Losses (1)
 
Net
Investment
Mortgage loans:
 
 
 
Single-family:
 
 
 
With a related allowance
$
5,480

$
(1,148
)
$
4,332

Without a related allowance (2)
6,067

—

6,067

Total single-family loans
11,547

(1,148
)
10,399

 
 
 
 
Multi-family:
 
 
 
With a related allowance
956

(354
)
602

Without a related allowance (2)
2,491

—

2,491

Total multi-family loans
3,447

(354
)
3,093

 
 
 
 
Commercial real estate:
 
 
 
Without a related allowance (2)
2,352

—

2,352

Total commercial real estate loans
2,352

—

2,352

 
 
 
 
Commercial business loans:
 
 
 
With a related allowance
138

(46
)
92

Total commercial business loans
138

(46
)
92

 
 
 
 
Total non-performing loans
$
17,484

$
(1,548
)
$
15,936


(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, 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 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 June 30, 2014 and 2013:

As of June 30, 2014 (In Thousands)
3 Months or
Less
Over 3 to
6 Months
Over 6 to
12 Months
Over 12
Months
 
Total
Mortgage loans:
 
 
 
 
 
Single-family
$
1,433

$
—

$
2,655

$
6,311

$
10,399

Multi-family
413

—

165

2,515

3,093

Commercial real estate
—

455

576

1,321

2,352

Commercial business loans
—

—

—

92

92

Total
$
1,846

$
455

$
3,396

$
10,239

$
15,936
Effect of Nonperforming Loans on Interest Income
The effect of the non-performing loans on interest income for the years ended June 30, 2014, 2013 and 2012 is presented below:

(In Thousands)
Year Ended June 30,
2014
 
2013
 
2012
 
 
 
 
 
 
 
 
Contractual interest due
$
1,346

 
$
1,763

 
$
2,432

 
Interest recognized
(546
)
 
(885
)
 
(1,556
)
 
Net foregone interest
$
800

 
$
878

 
$
876

 
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 or charge-offs, by loan type and non-accrual versus accrual status at June 30, 2014 and 2013:

(In Thousands)
June 30, 2014
June 30, 2013
Restructured loans on non-accrual status:
 
 
Mortgage loans:
 
 
Single-family
$
2,957

$
5,094

Multi-family
1,760

2,521

Commercial real estate
800

1,354

Commercial business loans
92

123

Total
5,609

9,092

 
 
 
Restructured loans on accrual status:
 

 

Mortgage loans:
 

 

Single-family
343

434

Total
343

434

Total restructured loans
$
5,952

$
9,526


The following table shows the restructured loans by type, net of allowance for loan losses or charge-offs, at June 30, 2014 and 2013:

 
 
 
(In Thousands)
June 30, 2014
 
Recorded
Investment
Allowance
for Loan
Losses (1)
 
Net
Investment
Mortgage loans:
 
 
 
Single-family:
 
 
 
With a related allowance
$
994

$
(248
)
$
746

Without a related allowance (2)
2,554

—

2,554

Total single-family loans
3,548

(248
)
3,300

 
 
 
 
Multi-family:
 
 
 
Without a related allowance (2)
1,760

—

1,760

Total multi-family loans
1,760

—

1,760

 
 
 
 
Commercial real estate:
 
 
 
Without a related allowance (2)
800

—

800

Total commercial real estate loans
800

—

800

 
 
 
 
Commercial business loans:
 
 
 
With a related allowance
138

(46
)
92

Total commercial business loans
138

(46
)
92

 
 
 
 
Total restructured loans
$
6,246

$
(294
)
$
5,952


(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, 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 loan balance.
Summary of Related Party Loan Activity
The following is a summary of related-party loan activity:

(In Thousands)
Year Ended June 30,
2014
 
2013
 
2012
 
 
 
 
 
 
 
 
Balance, beginning of year
$
2,024

 
$
2,030

 
$
2,036

 
Originations
691

 
3,581

 
2,807

 
Sales and payments
(704
)
 
(3,587
)
 
(2,813
)
 
Balance, end of year
$
2,011

 
$
2,024

 
$
2,030