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Loans Held For Investment (Tables) | 3 Months Ended
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Sep. 30, 2014
Loans and Leases Receivable Disclosure [Abstract] |
Schedule of Loans Held for Investment | Loans held for investment consisted of the following:
(In Thousands) | September 30, 2014 | June 30, 2014
Mortgage loans: |  |
Single-family | $ | 377,371 |  | $ | 377,997 |
Multi-family | 314,880 |  | 301,211 |
Commercial real estate | 100,743 |  | 96,803 |
Construction | 4,378 |  | 2,869 |
Commercial business loans | 1,109 |  | 1,237 |
Consumer loans | 271 |  | 306 |
Total loans held for investment, gross | 798,752 |  | 780,423 |
Undisbursed loan funds | (3,604 | ) | (1,090 | )
Deferred loan costs, net | 2,698 |  | 2,552 |
Allowance for loan losses | (8,888 | ) | (9,744 | )
Total loans held for investment, net | $ | 788,958 |  | $ | 772,141 |
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 | $ | 317,328 |  | $ | 13,939 |  | $ | 25,818 |  | $ | 5,093 |  | $ | 15,193 |  | $ | 377,371 |
Multi-family | 96,584 |  | 44,980 |  | 157,434 |  | 10,402 |  | 5,480 |  | 314,880 |
Commercial real estate | 36,310 |  | 8,641 |  | 45,238 |  | 600 |  | 9,954 |  | 100,743 |
Construction | 2,569 |  | — |  | — |  | — |  | 1,809 |  | 4,378 |
Commercial business loans | 350 |  | — |  | 123 |  | — |  | 636 |  | 1,109 |
Consumer loans | 260 |  | — |  | — |  | — |  | 11 |  | 271 |
Total loans held for investment, gross | $ | 453,401 |  | $ | 67,560 |  | $ | 228,613 |  | $ | 16,095 |  | $ | 33,083 |  | $ | 798,752 |
Schedule of Allowance for Loan Losses | The following table summarizes the Corporation’s allowance for loan losses at September 30, 2014 and June 30, 2014:
(In Thousands) | September 30, 2014 | June 30, 2014
Collectively evaluated for impairment: |  |
Mortgage loans: |  |
Single-family | $ | 4,652 |  | $ | 5,476 |
Multi-family | 3,122 |  | 3,142 |
Commercial real estate | 1,014 |  | 989 |
Construction | 5 |  | 35 |
Commercial business loans | 44 |  | 51 |
Consumer loans | 10 |  | 10 |
Total collectively evaluated allowance | 8,847 |  | 9,703 |
Individually evaluated for impairment: |  |
Mortgage loans: |  |
Commercial business loans | 41 |  | 41 |
Total individually evaluated allowance | 41 |  | 41 |
Total loan loss allowance | $ | 8,888 |  | $ | 9,744 |
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) | 2014 | 2013
Allowance at beginning of period | $ | 9,744 |  | $ | 14,935 |
Recovery from the allowance for loan losses | (818 | ) | (942 | )
Recoveries: |  |  |  |
Mortgage loans: |  |  |  |
Single-family | 109 |  | 168 |
Multi-family | 71 |  | 11 |
Consumer loans | 1 |  | 1 |
Total recoveries | 181 |  | 180 |
Charge-offs: |  |  |  |
Mortgage loans: |  |  |  |
Single-family | (219 | ) | (690 | )
Multi-family | — |  | (1,378 | )
Total charge-offs | (219 | ) | (2,068 | )
Net charge-offs | (38 | ) | (1,888 | )
Balance at end of period | $ | 8,888 |  | $ | 12,105 |
Allowance for loan losses as a percentage of gross loans held for investment | 1.11 | % | 1.59 | %
Net charge-offs as a percentage of average loans receivable, net, during the period (annualized) | 0.02 | % | 0.82 | %
Allowance for loan losses as a percentage of gross non-performing loans at the end of the period | 66.62 | % | 58.57 | %
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, 2014 and June 30, 2014:
(In Thousands) | September 30, 2014
Recorded Investment | Allowance for Loan Losses (1) | Net Investment
Mortgage loans: |  |  |
Single-family: |  |  |
With a related allowance | $ | 1,915 |  | $ | (406 | ) | $ | 1,509 |
Without a related allowance (2) | 6,515 |  | — |  | 6,515 |
Total single-family loans | 8,430 |  | (406 | ) | 8,024 |
Multi-family: |  |  |
With a related allowance | 271 |  | (100 | ) | 171 |
Without a related allowance (2) | 2,194 |  | — |  | 2,194 |
Total multi-family loans | 2,465 |  | (100 | ) | 2,365 |
Commercial real estate: |  |  |
Without a related allowance (2) | 2,317 |  | — |  | 2,317 |
Total commercial real estate loans | 2,317 |  | — |  | 2,317 |
Commercial business loans: |  |  |
With a related allowance | 129 |  | (44 | ) | 85 |
Total commercial business loans | 129 |  | (44 | ) | 85 |
Total non-performing loans | $ | 13,341 |  | $ | (550 | ) | $ | 12,791 |
(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, 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 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, 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 | $ | 24 |  | $ | 1,551 |  | $ | 480 |  | $ | 5,969 |  | $ | 8,024 |
Multi-family | — |  | 409 |  | — |  | 1,956 |  | 2,365 |
Commercial real estate | — |  | — |  | 452 |  | 1,865 |  | 2,317 |
Commercial business loans | — |  | — |  | — |  | 85 |  | 85 |
Total | $ | 24 |  | $ | 1,960 |  | $ | 932 |  | $ | 9,875 |  | $ | 12,791 |
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, 2014 | June 30, 2014
Restructured loans on non-accrual status: |  |
Mortgage loans: |  |
Single-family | $ | 2,861 |  | $ | 2,957 |
Multi-family | 1,620 |  | 1,760 |
Commercial real estate | 796 |  | 800 |
Commercial business loans | 85 |  | 92 |
Total | 5,362 |  | 5,609 |
Restructured loans on accrual status: |  |  |  |
Mortgage loans: |  |  |  |
Single-family | 687 |  | 343 |
Total | 687 |  | 343 |
Total restructured loans | $ | 6,049 |  | $ | 5,952 |
The following tables show the restructured loans by type, net of allowance for loan losses, at September 30, 2014 and June 30, 2014:
(In Thousands) | September 30, 2014
Recorded Investment | Allowance for Loan Losses (1) | Net Investment
Mortgage loans: |  |  |
Single-family: |  |  |
With a related allowance | $ | 413 |  | $ | (103 | ) | $ | 310 |
Without a related allowance (2) | 3,238 |  | — |  | 3,238 |
Total single-family loans | 3,651 |  | (103 | ) | 3,548 |
Multi-family: |  |  |
Without a related allowance (2) | 1,620 |  | — |  | 1,620 |
Total multi-family loans | 1,620 |  | — |  | 1,620 |
Commercial real estate: |  |  |
Without a related allowance (2) | 796 |  | — |  | 796 |
Total commercial real estate loans | 796 |  | — |  | 796 |
Commercial business loans: |  |  |
With a related allowance | 129 |  | (44 | ) | 85 |
Total commercial business loans | 129 |  | (44 | ) | 85 |
Total restructured loans | $ | 6,196 |  | $ | (147 | ) | $ | 6,049 |
(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, 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 individual loan balance.

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