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Loans Held For Investment (Tables)
 9 Months Ended
Mar. 31, 2015
Loans and Leases Receivable Disclosure [Abstract]  
Schedule of Loans Held for Investment
Loans held for investment consisted of the following:

(In Thousands)
March 31,
2015
June 30,
2014
Mortgage loans:
 
 
Single-family
$
374,981

$
377,824

Multi-family
344,277

301,191

Commercial real estate
101,618

96,781

Construction
6,039

2,869

Commercial business loans
652

1,237

Consumer loans
246

306

Total loans held for investment, gross
827,813

780,208

 
 
 
Undisbursed loan funds
(2,911
)
(1,090
)
Advance payments of escrows
392

215

Deferred loan costs, net
3,054

2,552

Allowance for loan losses
(8,712
)
(9,744
)
Total loans held for investment, net
$
819,636

$
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
$
312,310

$
4,290

$
42,035

$
2,003

$
14,343

$
374,981

Multi-family
72,603

77,267

184,774

4,725

4,908

344,277

Commercial real estate
20,085

25,410

46,712

—

9,411

101,618

Construction
2,569

—

—

—

3,470

6,039

Commercial business loans
207

—

120

—

325

652

Consumer loans
238

—

—

—

8

246

Total loans held for investment, gross
$
408,012

$
106,967

$
273,641

$
6,728

$
32,465

$
827,813
Schedule of Allowance for Loan Losses and Recorded Investment [Table Text Block]
The following tables summarize the Corporation’s allowance for loan losses and recorded investment in gross loans, by portfolio type, at the dates and for the periods indicated.

 
 
Quarter Ended March 31, 2015
(In Thousands)
Single-family
Multi-family
Commercial Real Estate
Construction
Commercial Business
Consumer
Total
 
 
 
 
 
 
 
 
 
Allowance at beginning of period
$
4,540

$
2,998

$
1,075

$
17

$
53

$
10

$
8,693

Provision (recovery) for loan losses
102

26

(238
)
10

(10
)
(1
)
(111
)
Recoveries
226

65

—

—

—

—

291

Charge-offs
(88
)
—

(73
)
—

—

—

(161
)
 
Allowance for loan losses, end of
  period
$
4,780

$
3,089

$
764

$
27

$
43

$
9

$
8,712

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Individually evaluated for impairment
$
—

$
—

$
—

$
—

$
20

$
—

$
20

Collectively evaluated for impairment
4,780

3,089

764

27

23

9

8,692

 
Allowance for loan losses, end of
  period
$
4,780

$
3,089

$
764

$
27

$
43

$
9

$
8,712

 
 
 
 
 
 
 
 
 
Individually evaluated for impairment
$
5,651

$
1,982

$
1,468

$
—

$
110

$
—

$
9,211

Collectively evaluated for impairment
369,330

342,295

100,150

6,039

542

246

818,602

 
Total loans held for investment,
  gross
$
374,981

$
344,277

$
101,618

$
6,039

$
652

$
246

$
827,813

Allowance for loan losses as a
  percentage of gross loans held for
  investment
1.27
%
0.90
%
0.75
%
0.45
%
6.60
%
3.66
%
1.05
%

 
 
Quarter Ended March 31, 2014
(In Thousands)
Single-family
Multi-family
Commercial Real Estate
Construction
Commercial Business
Consumer
Total
 
 
 
 
 
 
 
 
 
Allowance at beginning of period
$
7,307

$
2,554

$
1,060

$
3

$
106

$
11

$
11,041

(Recovery) provision for loan losses
(1,719
)
889

(26
)
17

(9
)
(1
)
(849
)
Recoveries
64

56

—

—

—

—

120

Charge-offs
(185
)
(94
)
—

—

(9
)
—

(288
)
 
Allowance for loan losses, end of
  period
$
5,467

$
3,405

$
1,034

$
20

$
88

$
10

$
10,024

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Individually evaluated for impairment
$
—

$
—

$
—

$
—

$
41

$
—

$
41

Collectively evaluated for impairment
5,467

3,405

1,034

20

47

10

9,983

 
Allowance for loan losses, end of
  period
$
5,467

$
3,405

$
1,034

$
20

$
88

$
10

$
10,024

 
 
 
 
 
 
 
 
 
Individually evaluated for impairment
$
6,821

$
2,565

$
3,562

$
—

$
123

$
—

$
13,071

Collectively evaluated for impairment
374,205

286,684

100,980

1,792

928

324

764,913

 
Total loans held for investment,
  gross
$
381,026

$
289,249

$
104,542

$
1,792

$
1,051

$
324

$
777,984

Allowance for loan losses as a
  percentage of gross loans held for
  investment
1.43
%
1.18
%
0.99
%
1.12
%
8.37
%
3.09
%
1.29
%

 
 
Nine Months Ended March 31, 2015
(In Thousands)
Single-family
Multi-family
Commercial Real Estate
Construction
Commercial Business
Consumer
Total
 
 
 
 
 
 
 
 
 
Allowance at beginning of period
$
5,476

$
3,142

$
989

$
35

$
92

$
10

$
9,744

Recovery from the allowance for loan
  losses
(790
)
(282
)
(152
)
(8
)
(49
)
(2
)
(1,283
)
Recoveries
499

229

—

—

—

1

729

Charge-offs
(405
)
—

(73
)
—

—

—

(478
)
 
Allowance for loan losses, end of
  period
$
4,780

$
3,089

$
764

$
27

$
43

$
9

$
8,712

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Individually evaluated for impairment
$
—

$
—

$
—

$
—

$
20

$
—

$
20

Collectively evaluated for impairment
4,780

3,089

764

27

23

9

8,692

 
Allowance for loan losses, end of
  period
$
4,780

$
3,089

$
764

$
27

$
43

$
9

$
8,712

 
 
 
 
 
 
 
 
 
Individually evaluated for impairment
$
5,651

$
1,982

$
1,468

$
—

$
110

$
—

$
9,211

Collectively evaluated for impairment
369,330

342,295

100,150

6,039

542

246

818,602

 
Total loans held for investment,
  gross
$
374,981

$
344,277

$
101,618

$
6,039

$
652

$
246

$
827,813

Allowance for loan losses as a
  percentage of gross loans held for
  investment
1.27
%
0.90
%
0.75
%
0.45
%
6.60
%
3.66
%
1.05
%



Nine Months Ended March 31, 2014
(In Thousands)
Single-family
Multi-family
Commercial Real Estate
Construction
Commercial Business
Consumer
Total









Allowance at beginning of period
$
9,062

$
4,689

$
1,053

$
—

$
119

$
12

$
14,935

(Recovery) provision for loan losses
(2,961
)
312

(19
)
—

(22
)
1

(2,689
)
Recoveries
331

75

—

20

—

1

427

Charge-offs
(965
)
(1,671
)
—

—

(9
)
(4
)
(2,649
)
 
Allowance for loan losses, end of
  period
$
5,467

$
3,405

$
1,034

$
20

$
88

$
10

$
10,024



















Individually evaluated for impairment
$
—

$
—

$
—

$
—

$
41

$
—

$
41

Collectively evaluated for impairment
5,467

3,405

1,034

20

47

10

9,983

 
Allowance for loan losses, end of
  period
$
5,467

$
3,405

$
1,034

$
20

$
88

$
10

$
10,024










Individually evaluated for impairment
$
6,821

$
2,565

$
3,562

$
—

$
123

$
—

$
13,071

Collectively evaluated for impairment
374,205

286,684

100,980

1,792

928

324

764,913


Total loans held for investment,
  gross
$
381,026

$
289,249

$
104,542

$
1,792

$
1,051

$
324

$
777,984

Allowance for loan losses as a
  percentage of gross loans held for
  investment
1.43
%
1.18
%
0.99
%
1.12
%
8.37
%
3.09
%
1.29
%
Schedule of Allowance for Loan Losses
The following table summarizes the Corporation’s allowance for loan losses at March 31, 2015 and June 30, 2014:

(In Thousands)
March 31,
2015
June 30,
2014
Collectively evaluated for impairment:
 
 
Mortgage loans:
 
 
Single-family
$
4,780

$
5,476

Multi-family
3,089

3,142

Commercial real estate
764

989

Construction
27

35

Commercial business loans
23

51

Consumer loans
9

10

Total collectively evaluated allowance
8,692

9,703

 
 
 
Individually evaluated for impairment:
 
 
Commercial business loans
20

41

Total individually evaluated allowance
20

41

Total loan loss allowance
$
8,712

$
9,744


The following table is provided to disclose additional details on the Corporation’s allowance for loan losses:

 
For the Quarters Ended
March 31,
For the Nine Months Ended
March 31,
(Dollars in Thousands)
2015
2014
2015
2014
 
 
 
 
 
Allowance at beginning of period
$
8,693

$
11,041

$
9,744

$
14,935

 
 
 
 
 
Recovery from the allowance for loan losses
(111
)
(849
)
(1,283
)
(2,689
)
 
 
 
 
 
Recoveries:
 

 

 

 

Mortgage loans:
 

 

 

 

Single-family
226

64

499

331

Multi-family
65

56

229

75

Construction
—

—

—

20

Consumer loans
—

—

1

1

Total recoveries
291

120

729

427

 
 
 
 
 
Charge-offs:
 

 

 

 

Mortgage loans:
 

 

 

 

Single-family
(88
)
(185
)
(405
)
(965
)
Multi-family
—

(94
)
—

(1,671
)
Commercial real estate
(73
)
—

(73
)
—

Commercial business loans
—

(9
)
—

(9
)
Consumer loans
—

—

—

(4
)
Total charge-offs
(161
)
(288
)
(478
)
(2,649
)
 
 
 
 
 
Net recoveries (charge-offs)
130

(168
)
251

(2,222
)
Balance at end of period
$
8,712

$
10,024

$
8,712

$
10,024

 
 

 

 

 

Allowance for loan losses as a percentage of gross loans held for investment
1.05
 %
1.29
%
1.05
 %
1.29
%
Net (recoveries) charge-offs as a percentage of average loans receivable, net, during the period (annualized)
(0.05
)%
0.08
%
(0.04
)%
0.34
%
Allowance for loan losses as a percentage of gross non-performing loans at the end of the period
79.74
 %
55.55
%
79.74
 %
55.55
%
Schedule of Recorded Investment in Non-Performing Loans
 
 
 
At March 31, 2015
 
 
 
Unpaid
 
 
 
Net
 
 
 
Principal
Related
Recorded
 
Recorded
(In Thousands)
Balance
Charge-offs
Investment
Allowance(1)
Investment
 
 
 
 
 
 
 
 
Mortgage loans:
 
 
 
 
 
 
Single-family:
 
 
 
 
 
 
 
With a related allowance
$
1,454

$
—

$
1,454

$
(307
)
$
1,147

 
 
Without a related allowance(2)
7,504

(1,853
)
5,651

—

5,651

 
Total single-family
8,958

(1,853
)
7,105

(307
)
6,798

 
 
 
 
 
 
 
 
 
Multi-family:
 
 
 
 
 
 
 
With a related allowance
257

—

257

(77
)
180

 
 
Without a related allowance(2)
3,332

(1,350
)
1,982

—

1,982

 
Total multi-family
3,589

(1,350
)
2,239

(77
)
2,162

 
 
 
 
 
 
 
 
 
Commercial real estate:
 
 
 
 
 
 
 
Without a related allowance(2)
1,468

—

1,468

—

1,468

 
Total commercial real estate
1,468

—

1,468

—

1,468

 
 
 
 
 
 
 
 
Commercial business loans:
 
 
 
 
 
 
With a related allowance
114

—

114

(21
)
93

Total commercial business loans
114

—

114

(21
)
93

 
 
 
 
 
 
 
 
Total non-performing loans
$
14,129

$
(3,203
)
$
10,926

$
(405
)
$
10,521


(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.
 
 
 
At June 30, 2014
 
 
 
Unpaid
 
 
 
Net
 
 
 
Principal
Related
Recorded
 
Recorded
(In Thousands)
Balance
Charge-offs
Investment
Allowance(1)
Investment
 
 
 
 
 
 
 
 
Mortgage loans:
 
 
 
 
 
 
Single-family:
 
 
 
 
 
 
 
With a related allowance
$
5,480

$
—

$
5,480

$
(1,148
)
$
4,332

 
 
Without a related allowance(2)
8,208

(2,141
)
6,067

—

6,067

 
Total single-family
13,688

(2,141
)
11,547

(1,148
)
10,399

 
 
 
 
 
 
 
 
 
Multi-family:
 
 
 
 
 
 
 
With a related allowance
956

—

956

(354
)
602

 
 
Without a related allowance(2)
4,146

(1,655
)
2,491

—

2,491

 
Total multi-family
5,102

(1,655
)
3,447

(354
)
3,093

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

—

2,352

—

2,352

 
Total commercial real estate
2,352

—

2,352

—

2,352

 
 
 
 
 
 
 
 
Commercial business loans:
 
 
 
 
 
 
With a related allowance
138

—

138

(46
)
92

Total commercial business loans
138

—

138

(46
)
92

 
 
 
 
 
 
 
 
Total non-performing loans
$
21,280

$
(3,796
)
$
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.
Schedule of Average Recorded Investment in Non-Performing Loans and Related Interest Income [Table Text Block]
The following tables present the average recorded investment in non-performing loans and the related interest income recognized for the quarters and nine months ended March 31, 2015 and 2014:

 
 
 
Quarter Ended March 31,
 
 
 
2015
 
2014
 
 
 
Average
Interest
 
Average
Interest
 
 
 
Recorded
Income
 
Recorded
Income
 
 
 
Investment
Recognized
 
Investment
Recognized
 
 
 
 
 
 
 
 
Without related allowances:
 
 
 
 
 
 
Mortgage loans:
 
 
 
 
 
 
 
Single-family
$
5,827

$
19

 
$
6,966

$
—

 
 
Multi-family
1,988

—

 
2,517

2

 
 
Commercial real estate
1,487

21

 
2,999

30

 
 
 
9,302

40

 
12,482

32

 
 
 
 
 
 
 
 
With related allowances:
 
 
 
 
 
 
Mortgage loans:
 
 
 
 
 
 
 
Single-family
1,619

8

 
5,039

48

 
 
Multi-family
259

—

 
969

12

 
Commercial business loans
116

2

 
226

3

 
 
1,994

10

 
6,234

63

 
 
 
 
 
 
 
 
Total
$
11,296

$
50

 
$
18,716

$
95



 
 
 
Nine Months Ended March 31,
 
 
 
2015
 
2014
 
 
 
Average
Interest
 
Average
Interest
 
 
 
Recorded
Income
 
Recorded
Income
 
 
 
Investment
Recognized
 
Investment
Recognized
 
 
 
 
 
 
 
 
Without related allowances:
 
 
 
 
 
 
Mortgage loans:
 
 
 
 
 
 
 
Single-family
$
6,813

$
53

 
$
6,689

$
19

 
 
Multi-family
2,094

—

 
2,845

36

 
 
Commercial real estate
1,926

146

 
3,416

218

 
 
 
10,833

199

 
12,950

273

 
 
 
 
 
 
 
 
With related allowances:
 
 
 
 
 
 
Mortgage loans:
 
 
 
 
 
 
 
Single-family
1,872

36

 
5,584

116

 
 
Multi-family
417

13

 
1,005

39

 
Commercial business loans
124

7

 
197

9

 
 
2,413

56

 
6,786

164

 
 
 
 
 
 
 
 
Total
$
13,246

$
255

 
$
19,736

$
437
Schedule of Aging Analysis of Non-Performing Loans
The following tables denote the past due status of the Corporation's loans held for investment, gross, at the dates indicated.

 
 
March 31, 2015
(In Thousands)
Current
30-89 Days Past Due
Non-Accrual (1)
Total Loans Held for Investment, Gross
 
 
 
 
 
 
Mortgage loans:
 
 
 
 
 
Single-family
$
363,432

$
4,444

$
7,105

$
374,981

 
Multi-family
342,038

—

2,239

344,277

 
Commercial real estate
100,150

—

1,468

101,618

 
Construction
6,039

—

—

6,039

Commercial business loans
538

—

114

652

Consumer loans
245

1

—

246

 
Total loans held for investment, gross
$
812,442

$
4,445

$
10,926

$
827,813



(1) All loans 90 days or greater past due are placed on non-accrual status.
 
 
June 30, 2014
(In Thousands)
Current
30-89 Days Past Due
Non-Accrual (1)
Total Loans Held for Investment, Gross
 
 
 
 
 
 
Mortgage loans:
 
 
 
 
 
Single-family
$
365,955

$
322

$
11,547

$
377,824

 
Multi-family
297,744

—

3,447

301,191

 
Commercial real estate
94,429

—

2,352

96,781

 
Construction
2,869

—

—

2,869

Commercial business loans
1,099

—

138

1,237

Consumer loans
306

—

—

306

 
Total loans held for investment, gross
$
762,402

$
322

$
17,484

$
780,208

 
(1) All loans 90 days or greater past due are placed on non-accrual status.
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, 2015
June 30, 2014
Restructured loans on non-accrual status:
 
 
Mortgage loans:
 
 
Single-family
$
2,037

$
2,957

Multi-family
1,580

1,760

Commercial real estate
1,024

800

Commercial business loans
93

92

Total
4,734

5,609

 
 
 
Restructured loans on accrual status:
 

 

Mortgage loans:
 

 

Single-family
2,023

343

Total
2,023

343

 
 
 
Total restructured loans
$
6,757

$
5,952
Schedule of Recorded Investment in Restructured Loans [Table Text Block]
The following tables identify the Corporation’s total recorded investment in restructured loans by type at the dates and for the periods indicated.

 
 
 
At March 31, 2015
 
 
 
Unpaid
 
 
 
Net
 
 
 
Principal
Related
Recorded
 
Recorded
(In Thousands)
Balance
Charge-offs
Investment
Allowance(1)
Investment
 
 
 
 
 
 
 
 
Mortgage loans:
 
 
 
 
 
 
Single-family:
 
 
 
 
 
 
 
With a related allowance
$
335

$
—

$
335

$
(67
)
$
268

 
 
Without a related allowance(2)
4,708

(916
)
3,792

—

3,792

 
Total single-family
5,043

(916
)
4,127

(67
)
4,060

 
 
 
 
 
 
 
 
 
Multi-family:
 
 
 
 
 
 
 
Without a related allowance(2)
2,862

(1,282
)
1,580

—

1,580

 
Total multi-family
2,862

(1,282
)
1,580

—

1,580

 
 
 
 
 
 
 
 
 
Commercial real estate:
 
 
 
 
 
 
 
Without a related allowance(2)
1,024

—

1,024

—

1,024

 
Total commercial real estate
1,024

—

1,024

—

1,024

 
 
 
 
 
 
 
 
Commercial business loans:
 
 
 
 
 
 
With a related allowance
114

—

114

(21
)
93

Total commercial business loans
114

—

114

(21
)
93

 
 
 
 
 
 
 
 
Total restructured loans
$
9,043

$
(2,198
)
$
6,845

$
(88
)
$
6,757


(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.

 
 
 
At June 30, 2014
 
 
 
Unpaid
 
 
 
Net
 
 
 
Principal
Related
Recorded
 
Recorded
(In Thousands)
Balance
Charge-offs
Investment
Allowance(1)
Investment
 
 
 
 
 
 
 
 
Mortgage loans:
 
 
 
 
 
 
Single-family
 
 
 
 
 
 
 
With a related allowance
$
994

$
—

$
994

$
(248
)
$
746

 
 
Without a related allowance(2)
3,564

(1,010
)
2,554

—

2,554

 
Total single-family
4,558

(1,010
)
3,548

(248
)
3,300

 
 
 
 
 
 
 
 
 
Multi-family:
 
 
 
 
 
 
 
Without a related allowance(2)
3,138

(1,378
)
1,760

—

1,760

 
Total multi-family
3,138

(1,378
)
1,760

—

1,760

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

—

800

—

800

 
Total commercial real estate
800

—

800

—

800

 
 
 
 
 
 
 
 
Commercial business loans:
 
 
 
 
 
 
With a related allowance
138

—

138

(46
)
92

Total commercial business loans
138

—

138

(46
)
92

 
 
 
 
 
 
 
 
Total restructured loans
$
8,634

$
(2,388
)
$
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.