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Loans Held For Investment (Tables)
 3 Months Ended
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.