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Loans Held For Investment (Tables)
 3 Months Ended
Sep. 30, 2015
Loans and Leases Receivable Disclosure [Abstract]  
Schedule of Loans Held for Investment
Loans held for investment consisted of the following:
(In Thousands)
September 30,
2015
June 30,
2015
Mortgage loans:
 
 
Single-family
$
356,963

$
365,961

Multi-family
355,442

347,020

Commercial real estate
94,580

100,897

Construction
6,185

8,191

Other
72

—

Commercial business loans
399

666

Consumer loans
243

244

Total loans held for investment, gross
813,884

822,979

 
 
 
Undisbursed loan funds
(2,691
)
(3,360
)
Advance payments of escrows
193

199

Deferred loan costs, net
3,334

3,140

Allowance for loan losses
(9,034
)
(8,724
)
Total loans held for investment, net
$
805,686

$
814,234
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
$
287,251

$
5,167

$
48,876

$
1,984

$
13,685

$
356,963

Multi-family
66,947

98,626

178,461

8,332

3,076

355,442

Commercial real estate
13,634

29,099

46,411

—

5,436

94,580

Construction
720

—

375

—

5,090

6,185

Other
—

—

—

—

72

72

Commercial business loans
138

—

—

—

261

399

Consumer loans
236

—

—

—

7

243

Total loans held for investment, gross
$
368,926

$
132,892

$
274,123

$
10,316

$
27,627

$
813,884
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 September 30, 2015
(In Thousands)
Single-family
Multi-family
Commercial Real Estate
Construction
Other Mortgage
Commercial Business
Consumer
Total
Allowance for loan losses:
 
 
 
 
 
 
 
 
Allowance at beginning of
  period
$
5,280

$
2,616

$
734

$
42

$
—

$
43

$
9

$
8,724

Provision (recovery) for loan
  losses
1,039

(729
)
(253
)
(2
)
2

(95
)
—

(38
)
Recoveries
69

56

216

—

—

85

—

426

Charge-offs
(78
)
—

—

—

—

—

—

(78
)
 
Allowance for loan losses,
  end of period
$
6,310

$
1,943

$
697

$
40

$
2

$
33

$
9

$
9,034

 
 
 
 
 
 
 
 
 
 
Allowance for loan losses:
 
 
 
 
 
 
 
 
Individually evaluated for
  impairment
$
49

$
—

$
—

$
—

$
—

$
20

$
—

$
69

Collectively evaluated for
  impairment
6,261

1,943

697

40

2

13

9

8,965

 
Allowance for loan losses,
  end of period
$
6,310

$
1,943

$
697

$
40

$
2

$
33

$
9

$
9,034

 
 
 
 
 
 
 
 
 
 
Loans held for investment:
 
 
 
 
 
 
 
 
Individually evaluated for
  impairment
$
8,204

$
1,975

$
1,016

$
—

$
—

$
107

$
—

$
11,302

Collectively evaluated for
  impairment
348,759

353,467

93,564

6,185

72

292

243

802,582

 
Total loans held for
  investment, gross
$
356,963

$
355,442

$
94,580

$
6,185

$
72

$
399

$
243

$
813,884

Allowance for loan losses as
  a percentage of gross loans
  held for investment
1.77
%
0.55
%
0.74
%
0.65
%
2.78
%
8.27
%
3.70
%
1.11
%

 
 
Quarter Ended September 30, 2014
(In Thousands)
Single-family
Multi-family
Commercial Real Estate
Construction
Commercial Business
Consumer
Total
Allowance for loan losses:
 
 
 
 
 
 
 
Allowance at beginning of period
$
5,476

$
3,142

$
989

$
35

$
92

$
10

$
9,744

(Recovery) provision for loan losses
(714
)
(91
)
25

(30
)
(7
)
(1
)
(818
)
Recoveries
109

71

—

—

—

1

181

Charge-offs
(219
)
—

—

—

—

—

(219
)
 
Allowance for loan losses, end of
  period
$
4,652

$
3,122

$
1,014

$
5

$
85

$
10

$
8,888

 
 
 
 
 
 
 
 
 
Allowance for loan losses:
 
 
 
 
 
 
 
Individually evaluated for impairment
$
—

$
—

$
—

$
—

$
41

$
—

$
41

Collectively evaluated for impairment
4,652

3,122

1,014

5

44

10

8,847

 
Allowance for loan losses, end of
  period
$
4,652

$
3,122

$
1,014

$
5

$
85

$
10

$
8,888

 
 
 
 
 
 
 
 
 
Loans held for investment:
 
 
 
 
 
 
 
Individually evaluated for impairment
$
6,515

$
2,194

$
2,317

$
—

$
118

$
—

$
11,144

Collectively evaluated for impairment
370,718

312,680

98,410

4,378

991

271

787,448

 
Total loans held for investment,
  gross
$
377,233

$
314,874

$
100,727

$
4,378

$
1,109

$
271

$
798,592

Allowance for loan losses as a
  percentage of gross loans held for
  investment
1.23
%
0.99
%
1.01
%
0.11
%
7.66
%
3.69
%
1.11
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Schedule of Allowance for Loan Losses
The following table summarizes the Corporation’s allowance for loan losses at September 30, 2015 and June 30, 2015:
(In Thousands)
September 30,
2015
June 30,
2015
Collectively evaluated for impairment:
 
 
Mortgage loans:
 
 
Single-family
$
6,261

$
5,202

Multi-family
1,943

2,616

Commercial real estate
697

734

Construction
40

42

Other
2

—

Commercial business loans
13

23

Consumer loans
9

9

Total collectively evaluated allowance
8,965

8,626

 
 
 
Individually evaluated for impairment:
 
 
Mortgage loans:
 
 
Single-family
49

78

Commercial business loans
20

20

Total individually evaluated allowance
69

98

Total loan loss allowance
$
9,034

$
8,724


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)
2015
2014
 
 
 
Allowance at beginning of period
$
8,724

$
9,744

 
 
 
Recovery from the allowance for loan losses
(38
)
(818
)
 
 
 
Recoveries:
 

 

Mortgage loans:
 

 

Single-family
69

109

Multi-family
56

71

Commercial real estate
216

—

Commercial business loans
85

—

Consumer loans
—

1

Total recoveries
426

181

 
 
 
Charge-offs:
 

 

Mortgage loans:
 

 

Single-family
(78
)
(219
)
Total charge-offs
(78
)
(219
)
 
 
 
Net recoveries (charge-offs)
348

(38
)
Balance at end of period
$
9,034

$
8,888

 
 

 

Allowance for loan losses as a percentage of gross loans held for investment
1.11
 %
1.11
%
Net (recoveries) charge-offs as a percentage of average loans receivable, net, during the period (annualized)
(0.14
)%
0.02
%
Allowance for loan losses as a percentage of gross non-performing loans at the end of the period
57.33
 %
66.62
%
Schedule of Recorded Investment in Non-Performing Loans
 
 
 
At September 30, 2015
 
 
 
Unpaid
 
 
 
Net
 
 
 
Principal
Related
Recorded
 
Recorded
(In Thousands)
Balance
Charge-offs
Investment
Allowance(1)
Investment
 
 
 
 
 
 
 
 
Mortgage loans:
 
 
 
 
 
 
Single-family:
 
 
 
 
 
 
 
With a related allowance
$
5,078

$
—

$
5,078

$
(973
)
$
4,105

 
 
Without a related allowance(2)
9,387

(1,806
)
7,581

—

7,581

 
Total single-family
14,465

(1,806
)
12,659

(973
)
11,686

 
 
 
 
 
 
 
 
 
Multi-family:
 
 
 
 
 
 
 
Without a related allowance(2)
3,179

(1,204
)
1,975

—

1,975

 
Total multi-family
3,179

(1,204
)
1,975

—

1,975

 
 
 
 
 
 
 
 
 
Commercial real estate:
 
 
 
 
 
 
 
Without a related allowance(2)
1,016

—

1,016

—

1,016

 
Total commercial real estate
1,016

—

1,016

—

1,016

 
 
 
 
 
 
 
 
Commercial business loans:
 
 
 
 
 
 
With a related allowance
107

—

107

(20
)
87

Total commercial business loans
107

—

107

(20
)
87

 
 
 
 
 
 
 
 
Total non-performing loans
$
18,767

$
(3,010
)
$
15,757

$
(993
)
$
14,764


(1) Consists of collectively and individually evaluated allowances, specifically assigned to the individual loan, and fair value credit adjustments.
(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, 2015
 
 
 
Unpaid
 
 
 
Net
 
 
 
Principal
Related
Recorded
 
Recorded
(In Thousands)
Balance
Charge-offs
Investment
Allowance(1)
Investment
 
 
 
 
 
 
 
 
Mortgage loans:
 
 
 
 
 
 
Single-family:
 
 
 
 
 
 
 
With a related allowance
$
3,881

$
—

$
3,881

$
(630
)
$
3,251

 
 
Without a related allowance(2)
8,462

(1,801
)
6,661

—

6,661

 
Total single-family
12,343

(1,801
)
10,542

(630
)
9,912

 
 
 
 
 
 
 
 
 
Multi-family:
 
 
 
 
 
 
 
Without a related allowance(2)
3,506

(1,260
)
2,246

—

2,246

 
Total multi-family
3,506

(1,260
)
2,246

—

2,246

 
 
 
 
 
 
 
 
 
Commercial real estate:
 
 
 
 
 
 
 
Without a related allowance(2)
1,699

—

1,699

—

1,699

 
Total commercial real estate
1,699

—

1,699

—

1,699

 
 
 
 
 
 
 
 
Commercial business loans:
 
 
 
 
 
 
With a related allowance
109

—

109

(20
)
89

Total commercial business loans
109

—

109

(20
)
89

 
 
 
 
 
 
 
 
Total non-performing loans
$
17,657

$
(3,061
)
$
14,596

$
(650
)
$
13,946


(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 table presents the average recorded investment in non-performing loans and the related interest income recognized for the quarters ended September 30, 2015 and 2014:
 
 
 
Quarter Ended September 30,
 
 
 
2015
 
2014
 
 
 
Average
Interest
 
Average
Interest
 
 
 
Recorded
Income
 
Recorded
Income
 
 
 
Investment
Recognized
 
Investment
Recognized
 
 
 
 
 
 
 
 
Without related allowances:
 
 
 
 
 
 
Mortgage loans:
 
 
 
 
 
 
 
Single-family
$
8,032

$
3

 
$
7,917

$
34

 
 
Multi-family
2,065

66

 
2,288

4

 
 
Commercial real estate
1,322

18

 
2,327

26

 
 
 
11,419

87

 
12,532

64

 
 
 
 
 
 
 
 
With related allowances:
 
 
 
 
 
 
Mortgage loans:
 
 
 
 
 
 
 
Single-family
3,801

12

 
2,560

17

 
 
Multi-family
—

—

 
725

13

 
Commercial business loans
107

2

 
132

3

 
 
3,908

14

 
3,417

33

 
 
 
 
 
 
 
 
Total
$
15,327

$
101

 
$
15,949

$
97

 
 
 
 
 
 
 
 
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.
 
 
September 30, 2015
(In Thousands)
Current
30-89 Days Past Due
Non-Accrual (1)
Total Loans Held for Investment, Gross
 
 
 
 
 
 
Mortgage loans:
 
 
 
 
 
Single-family
$
343,126

$
1,217

$
12,620

$
356,963

 
Multi-family
353,467

—

1,975

355,442

 
Commercial real estate
93,564

—

1,016

94,580

 
Construction
6,185

—

—

6,185

 
Other
72

—

—

72

Commercial business loans
292

—

107

399

Consumer loans
241

2

—

243

 
Total loans held for investment, gross
$
796,947

$
1,219

$
15,718

$
813,884



(1) All loans 90 days or greater past due are placed on non-accrual status.
 
 
June 30, 2015
(In Thousands)
Current
30-89 Days Past Due
Non-Accrual (1)
Total Loans Held for Investment, Gross
 
 
 
 
 
 
Mortgage loans:
 
 
 
 
 
Single-family
$
354,082

$
1,335

$
10,544

$
365,961

 
Multi-family
344,774

—

2,246

347,020

 
Commercial real estate
99,198

—

1,699

100,897

 
Construction
8,191

—

—

8,191

Commercial business loans
557

—

109

666

Consumer loans
244

—

—

244

 
Total loans held for investment, gross
$
807,046

$
1,335

$
14,598

$
822,979

 
(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)
September 30, 2015
June 30, 2015
Restructured loans on non-accrual status:
 
 
Mortgage loans:
 
 
Single-family
$
2,879

$
2,902

Multi-family
1,576

1,593

Commercial real estate
—

1,019

Commercial business loans
87

89

Total
4,542

5,603

 
 
 
Restructured loans on accrual status:
 

 

Mortgage loans:
 

 

Single-family
980

989

Total
980

989

 
 
 
Total restructured loans
$
5,522

$
6,592
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 September 30, 2015
 
 
 
Unpaid
 
 
 
Net
 
 
 
Principal
Related
Recorded
 
Recorded
(In Thousands)
Balance
Charge-offs
Investment
Allowance(1)
Investment
 
 
 
 
 
 
 
 
Mortgage loans:
 
 
 
 
 
 
Single-family:
 
 
 
 
 
 
 
With a related allowance
$
572

$
—

$
572

$
(114
)
$
458

 
 
Without a related allowance(2)
4,340

(939
)
3,401

—

3,401

 
Total single-family
4,912

(939
)
3,973

(114
)
3,859

 
 
 
 
 
 
 
 
 
Multi-family:
 
 
 
 
 
 
 
Without a related allowance(2)
2,729

(1,153
)
1,576

—

1,576

 
Total multi-family
2,729

(1,153
)
1,576

—

1,576

 
 
 
 
 
 
 
 
Commercial business loans:
 
 
 
 
 
 
With a related allowance
107

—

107

(20
)
87

Total commercial business loans
107

—

107

(20
)
87

 
 
 
 
 
 
 
 
Total restructured loans
$
7,748

$
(2,092
)
$
5,656

$
(134
)
$
5,522


(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, 2015
 
 
 
Unpaid
 
 
 
Net
 
 
 
Principal
Related
Recorded
 
Recorded
(In Thousands)
Balance
Charge-offs
Investment
Allowance(1)
Investment
 
 
 
 
 
 
 
 
Mortgage loans:
 
 
 
 
 
 
Single-family
 
 
 
 
 
 
 
With a related allowance
$
576

$
—

$
576

$
(115
)
$
461

 
 
Without a related allowance(2)
4,397

(967
)
3,430

—

3,430

 
Total single-family
4,973

(967
)
4,006

(115
)
3,891

 
 
 
 
 
 
 
 
 
Multi-family:
 
 
 
 
 
 
 
Without a related allowance(2)
2,795

(1,202
)
1,593

—

1,593

 
Total multi-family
2,795

(1,202
)
1,593

—

1,593

 
 
 
 
 
 
 
 
 
Commercial real estate:
 
 
 
 
 
 
 
Without a related allowance(2)
1,019

—

1,019

—

1,019

 
Total commercial real estate
1,019

—

1,019

—

1,019

 
 
 
 
 
 
 
 
Commercial business loans:
 
 
 
 
 
 
With a related allowance
109

—

109

(20
)
89

Total commercial business loans
109

—

109

(20
)
89

 
 
 
 
 
 
 
 
Total restructured loans
$
8,896

$
(2,169
)
$
6,727

$
(135
)
$
6,592


(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 Gross Loans Held for Investment by Loan Types and Risk Category [Table Text Block]
The following tables summarize gross loans held for investment by loan types and risk category at the dates indicated:
 
 
September 30, 2015
(In Thousands)
Single-family
Multi-family
Commercial Real Estate
Construction
Other Mortgage
Commercial Business
Consumer
Total
 
 
 
 
 
 
 
 
 
 
Pass
$
337,156

$
350,923

$
92,628

$
6,185

$
72

$
292

$
243

$
787,499

Special Mention
7,187

408

—

—

—

—

—

7,595

Substandard
12,620

4,111

1,952

—

—

107

—

18,790

 
Total loans held for
   investment, gross
$
356,963

$
355,442

$
94,580

$
6,185

$
72

$
399

$
243

$
813,884


 
 
June 30, 2015
(In Thousands)
Single-family
Multi-family
Commercial Real Estate
Construction
Commercial Business
Consumer
Total
 
 
 
 
 
 
 
 
 
Pass
$
347,301

$
339,093

$
98,254

$
8,191

$
557

$
244

$
793,640

Special Mention
7,766

413

—

—

—

—

8,179

Substandard
10,894

7,514

2,643

—

109

—

21,160

 
Total loans held for
   investment, gross
$
365,961

$
347,020

$
100,897

$
8,191

$
666

$
244

$
822,979