XML 58 R33.htm IDEA: XBRL DOCUMENT v3.5.0.2
Loans Held For Investment (Tables)
 12 Months Ended
Jun. 30, 2016
Loans and Leases Receivable Disclosure [Abstract]  
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.
 
 
Year Ended June 30, 2016
(In Thousands)
Single-family
Multi-family
Commercial Real Estate
Construction
Other Mortgage
Commercial Business
Consumer
Total
 
 
 
 
 
 
 
 
 
 
Allowance at beginning of period
$
5,280

$
2,616

$
734

$
42

$
—

$
43

$
9

$
8,724

(Recovery) provision for loan losses
(480
)
(1,044
)
(102
)
(11
)
7

(85
)
—

(1,715
)
Recoveries
539

1,228

216

—

—

85

1

2,069

Charge-offs
(406
)
—

—

—

—

—

(2
)
(408
)
 
Allowance for loan losses, end of
  period
$
4,933

$
2,800

$
848

$
31

$
7

$
43

$
8

$
8,670

 
 
 
 
 
 
 
 
 
 
Allowance:
 
 
 
 
 
 
 
 
Individually evaluated for impairment
$
—

$
—

$
—

$
—

$
—

$
20

$
—

$
20

Collectively evaluated for impairment
4,933

2,800

848

31

7

23

8

8,650

 
Allowance for loan losses, end of
  period
$
4,933

$
2,800

$
848

$
31

$
7

$
43

$
8

$
8,670

 
 
 
 
 
 
 
 
 
 
Gross Loans:
 
 
 
 
 
 
 
 
Individually evaluated for impairment
$
6,969

$
382

$
—

$
—

$
—

$
96

$
—

$
7,447

Collectively evaluated for impairment
317,528

415,245

99,528

14,653

332

540

203

848,029

 
Total loans held for investment,
  gross
$
324,497

$
415,627

$
99,528

$
14,653

$
332

$
636

$
203

$
855,476

Allowance for loan losses as a
  percentage of gross loans held for
  investment
1.52
%
0.67
%
0.85
%
0.21
%
2.11
%
6.76
%
3.94
%
1.02
%

 
 
Year Ended June 30, 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) provision for loan losses
(279
)
(882
)
(182
)
7

(49
)
(2
)
(1,387
)
Recoveries
635

360

—

—

—

1

996

Charge-offs
(552
)
(4
)
(73
)
—

—

—

(629
)
 
Allowance for loan losses, end of
  period
$
5,280

$
2,616

$
734

$
42

$
43

$
9

$
8,724

 
 
 
 
 
 
 
 
 
Allowance:
 
 
 
 
 
 
 
Individually evaluated for impairment
$
78

$
—

$
—

$
—

$
20

$
—

$
98

Collectively evaluated for impairment
5,202

2,616

734

42

23

9

8,626

 
Allowance for loan losses, end of
  period
$
5,280

$
2,616

$
734

$
42

$
43

$
9

$
8,724

 
 
 
 
 
 
 
 
 
Gross Loans:
 
 
 
 
 
 
 
Individually evaluated for impairment
$
7,949

$
2,246

$
1,699

$
—

$
109

$
—

$
12,003

Collectively evaluated for impairment
358,012

344,774

99,198

8,191

557

244

810,976

 
Total loans held for investment,
  gross
$
365,961

$
347,020

$
100,897

$
8,191

$
666

$
244

$
822,979

Allowance for loan losses as a
  percentage of gross loans held for
  investment
1.44
%
0.75
%
0.73
%
0.51
%
6.46
%
3.69
%
1.06
%
Schedule of Loans Held for Investment
Loans held for investment consisted of the following at June 30, 2016 and 2015:
(In Thousands)
June 30, 2016
June 30,
2015
Mortgage loans:
 
 
Single-family
$
324,497

$
365,961

Multi-family
415,627

347,020

Commercial real estate
99,528

100,897

Construction
14,653

8,191

Other
332

—

Commercial business loans
636

666

Consumer loans
203

244

Total loans held for investment, gross
855,476

822,979

 
 
 
Undisbursed loan funds
(11,258
)
(3,360
)
Advance payments of escrows
56

199

Deferred loan costs, net
4,418

3,140

Allowance for loan losses
(8,670
)
(8,724
)
Total loans held for investment, net
$
840,022

$
814,234
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:
 
 
June 30, 2016
(In Thousands)
Single-family
Multi-family
Commercial Real Estate
Construction
Other Mortgage
Commercial Business
Consumer
Total
 
 
 
 
 
 
 
 
 
 
Pass
$
309,380

$
410,804

$
99,528

$
14,653

$
332

$
540

$
203

$
835,440

Special Mention
4,858

3,974

—

—

—

—

—

8,832

Substandard
10,259

849

—

—

—

96

—

11,204

 
Total loans held for
   investment, gross
$
324,497

$
415,627

$
99,528

$
14,653

$
332

$
636

$
203

$
855,476


 
 
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
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
$
241,090

$
11,144

$
55,543

$
3,364

$
13,356

$
324,497

Multi-family
61,773

178,441

162,093

10,333

2,987

415,627

Commercial real estate
7,490

39,509

49,094

—

3,435

99,528

Construction
8,399

—

—

—

6,254

14,653

Other
—

—

—

—

332

332

Commercial business loans
169

—

—

—

467

636

Consumer loans
200

—

—

—

3

203

Total loans held for investment, gross
$
319,121

$
229,094

$
266,730

$
13,697

$
26,834

$
855,476
Schedule of Allowance for Loan Losses
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,
2016
 
2015
 
2014
 
 
 
 
 
 
 
 
Balance, beginning of year
$
8,724

 
$
9,744

 
$
14,935

 
Recovery from the allowance for loan losses
(1,715
)
 
(1,387
)
 
(3,380
)
 
Recoveries
2,069

 
996

 
929

 
Charge-offs
(408
)
 
(629
)
 
(2,740
)
 
Balance, end of year
$
8,670

 
$
8,724

 
$
9,744

 
Schedule of Recorded Investment in Non-Performing Loans
 
 
 
At or For the Year Ended June 30, 2016
 
 
 
Unpaid
 
 
 
Net
Average
Interest
 
 
 
Principal
Related
Recorded
 
Recorded
Recorded
Income
(In Thousands)
Balance
Charge-offs
Investment
Allowance(1)
Investment
Investment
Recognized
 
 
 
 
 
 
 
 
 
 
Mortgage loans:
 
 
 
 
 
 
 
 
Single-family:
 
 
 
 
 
 
 
 
 
With a related allowance
$
3,328

$
—

$
3,328

$
(773
)
$
2,555

$
2,514

$
85

 
 
Without a related allowance(2)
8,339

(1,370
)
6,969

—

6,969

8,344

63

 
Total single-family
11,667

(1,370
)
10,297

(773
)
9,524

10,858

148

 
 
 
 
 
 
 
 
 
 
 
Multi-family:
 
 
 
 
 
 
 
 
 
With a related allowance
468

—

468

(141
)
327

196

15

 
 
Without a related allowance(2)
400

(18
)
382

—

382

1,804

568

 
Total multi-family
868

(18
)
850

(141
)
709

2,000

583

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

—

—

—

—

589

28

 
Total commercial real estate
—

—

—

—

—

589

28

 
 
 
 
 
 
 
 
 
 
Commercial business loans:
 
 
 
 
 
 
 
 
With a related allowance
96

—

96

(20
)
76

101

7

Total commercial business loans
96

—

96

(20
)
76

101

7

 
 
 
 
 
 
 
 
 
 
Consumer loans:
 
 
 
 
 
 
 
 
Without a related allowance(2)
13

(13
)
—

—

—

—

—

Total consumer loans
13

(13
)
—

—

—

—

—

 
 
 
 
 
 
 
 
 
 
Total non-performing loans
$
12,644

$
(1,401
)
$
11,243

$
(934
)
$
10,309

$
13,548

$
766


(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 or For the Year Ended June 30, 2015
 
 
 
Unpaid
 
 
 
Net
Average
Interest
 
 
 
Principal
Related
Recorded
 
Recorded
Recorded
Income
(In Thousands)
Balance
Charge-offs
Investment
Allowance(1)
Investment
Investment
Recognized
 
 
 
 
 
 
 
 
 
 
Mortgage loans:
 
 
 
 
 
 
 
 
Single-family:
 
 
 
 
 
 
 
 
 
With a related allowance
$
3,881

$
—

$
3,881

$
(630
)
$
3,251

$
1,869

$
109

 
 
Without a related allowance(2)
8,462

(1,801
)
6,661

—

6,661

6,956

83

 
Total single-family
12,343

(1,801
)
10,542

(630
)
9,912

8,825

192

 
 
 
 
 
 
 
 
 
 
 
Multi-family:
 
 
 
 
 
 
 
 
 
With a related allowance
—

—

—

—

—

113

13

 
 
Without a related allowance(2)
3,506

(1,260
)
2,246

—

2,246

2,331

5

 
Total multi-family
3,506

(1,260
)
2,246

—

2,246

2,444

18

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

—

1,699

—

1,699

1,830

170

 
Total commercial real estate
1,699

—

1,699

—

1,699

1,830

170

 
 
 
 
 
 
 
 
 
 
Commercial business loans:
 
 
 
 
 
 
 
 
With a related allowance
109

—

109

(20
)
89

121

9

Total commercial business loans
109

—

109

(20
)
89

121

9

 
 
 
 
 
 
 
 
 
 
Total non-performing loans
$
17,657

$
(3,061
)
$
14,596

$
(650
)
$
13,946

$
13,220

$
389


(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 tables denote the past due status of the Corporation's loans held for investment, gross, at the dates indicated.
 
 
June 30, 2016
(In Thousands)
Current
30-89 Days Past Due
Non-Accrual(1)
Total Loans Held for Investment, Gross
 
 
 
 
 
 
Mortgage loans:
 
 
 
 
 
Single-family
$
312,595

$
1,644

$
10,258

$
324,497

 
Multi-family
414,777

—

850

415,627

 
Commercial real estate
99,528

—

—

99,528

 
Construction
14,653

—

—

14,653

 
Other
332

—

—

332

Commercial business loans
540

—

96

636

Consumer loans
203

—

—

203

 
Total loans held for investment, gross
$
842,628

$
1,644

$
11,204

$
855,476


(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.
Effect of Nonperforming Loans on Interest Income
The effect of the non-performing loans on interest income for the years ended June 30, 2016, 2015 and 2014 is presented below:
(In Thousands)
Year Ended June 30,
2016
 
2015
 
2014
 
 
 
 
 
 
 
 
Contractual interest due
$
724

 
$
805

 
$
1,346

 
Interest collected
(606
)
 
(704
)
 
(546
)
 
Net foregone interest
$
118

 
$
101

 
$
800

 
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, 2016 and 2015:
(In Thousands)
June 30, 2016
June 30, 2015
Restructured loans on non-accrual status:
 
 
Mortgage loans:
 
 
Single-family
$
3,232

$
2,902

Multi-family
—

1,593

Commercial real estate
—

1,019

Commercial business loans
76

89

Total
3,308

5,603

 
 
 
Restructured loans on accrual status:
 

 

Mortgage loans:
 

 

Single-family
1,290

989

Total
1,290

989

Total restructured loans
$
4,598

$
6,592

The following table shows the restructured loans by type, net of allowance for loan losses or charge-offs, at June 30, 2016 and 2015:
 
 
 
At June 30, 2016
 
 
 
Unpaid
 
 
 
Net
 
 
 
Principal
Related
Recorded
 
Recorded
(In Thousands)
Balance
Charge-offs
Investment
Allowance(1)
Investment
 
 
 
 
 
 
 
 
Mortgage loans:
 
 
 
 
 
 
Single-family:
 
 
 
 
 
 
 
With a related allowance
$
999

$
—

$
999

$
(200
)
$
799

 
 
Without a related allowance(2)
4,507

(784
)
3,723

—

3,723

 
Total single-family
5,506

(784
)
4,722

(200
)
4,522

 
 
 
 
 
 
 
 
Commercial business loans:
 
 
 
 
 
 
With a related allowance
96

—

96

(20
)
76

Total commercial business loans
96

—

96

(20
)
76

 
 
 
 
 
 
 
 
Total restructured loans
$
5,602

$
(784
)
$
4,818

$
(220
)
$
4,598
Schedule of Recorded Investment in Restructured Loans [Table Text Block]
The following table shows the restructured loans by type, net of allowance for loan losses or charge-offs, at June 30, 2016 and 2015:
 
 
 
At June 30, 2016
 
 
 
Unpaid
 
 
 
Net
 
 
 
Principal
Related
Recorded
 
Recorded
(In Thousands)
Balance
Charge-offs
Investment
Allowance(1)
Investment
 
 
 
 
 
 
 
 
Mortgage loans:
 
 
 
 
 
 
Single-family:
 
 
 
 
 
 
 
With a related allowance
$
999

$
—

$
999

$
(200
)
$
799

 
 
Without a related allowance(2)
4,507

(784
)
3,723

—

3,723

 
Total single-family
5,506

(784
)
4,722

(200
)
4,522

 
 
 
 
 
 
 
 
Commercial business loans:
 
 
 
 
 
 
With a related allowance
96

—

96

(20
)
76

Total commercial business loans
96

—

96

(20
)
76

 
 
 
 
 
 
 
 
Total restructured loans
$
5,602

$
(784
)
$
4,818

$
(220
)
$
4,598



(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.
Summary of Related Party Loan Activity
The following is a summary of related-party loan activity:
(In Thousands)
Year Ended June 30,
2016
 
2015
 
2014
 
 
 
 
 
 
 
 
Balance, beginning of year
$
2,367

 
$
2,011

 
$
2,024

 
Originations
3,500

 
3,555

 
691

 
Sales and payments
(4,006
)
 
(3,199
)
 
(704
)
 
Balance, end of year
$
1,861

 
$
2,367

 
$
2,011