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Loans Held For Investment (Tables)
 9 Months Ended
Mar. 31, 2016
Loans and Leases Receivable Disclosure [Abstract]  
Schedule of Loans Held for Investment
Loans held for investment, net of fair value adjustments, consisted of the following:
(In Thousands)
March 31,
2016
June 30,
2015
Mortgage loans:
 
 
Single-family
$
335,797

$
365,961

Multi-family
378,871

347,020

Commercial real estate
93,384

100,897

Construction
9,679

8,191

Other
72

—

Commercial business loans
452

666

Consumer loans
230

244

Total loans held for investment, gross
818,485

822,979

 
 
 
Undisbursed loan funds
(8,648
)
(3,360
)
Advance payments of escrows
247

199

Deferred loan costs, net
3,683

3,140

Allowance for loan losses
(8,200
)
(8,724
)
Total loans held for investment, net
$
805,567

$
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
$
257,665

$
7,121

$
56,836

$
679

$
13,496

$
335,797

Multi-family
68,092

127,701

174,233

5,827

3,018

378,871

Commercial real estate
6,604

40,493

42,745

—

3,542

93,384

Construction
7,034

—

—

—

2,645

9,679

Other
—

—

—

—

72

72

Commercial business loans
114

—

—

—

338

452

Consumer loans
226

—

—

—

4

230

Total loans held for investment, gross
$
339,735

$
175,315

$
273,814

$
6,506

$
23,115

$
818,485
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, 2016
(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
$
5,720

$
1,919

$
778

$
304

$
1

$
37

$
9

$
8,768

Recovery from the
  allowance for loan losses
(285
)
(74
)
(37
)
(294
)
—

(2
)
(2
)
(694
)
Recoveries
129

53

—

—

—

—

1

183

Charge-offs
(57
)
—

—

—

—

—

—

(57
)
 
Allowance for loan losses,
  end of period
$
5,507

$
1,898

$
741

$
10

$
1

$
35

$
8

$
8,200

 
 
 
 
 
 
 
 
 
 
Allowance for loan losses:
 
 
 
 
 
 
 
 
Individually evaluated for
  impairment
$
—

$
—

$
—

$
—

$
—

$
20

$
—

$
20

Collectively evaluated for
  impairment
5,507

1,898

741

10

1

15

8

8,180

 
Allowance for loan losses,
  end of period
$
5,507

$
1,898

$
741

$
10

$
1

$
35

$
8

$
8,200

 
 
 
 
 
 
 
 
 
 
Loans held for investment:
 
 
 
 
 
 
 
 
Individually evaluated for
  impairment
$
7,638

$
1,933

$
—

$
—

$
—

$
98

$
—

$
9,669

Collectively evaluated for
  impairment
328,159

376,938

93,384

9,679

72

354

230

808,816

 
Total loans held for
  investment, gross
$
335,797

$
378,871

$
93,384

$
9,679

$
72

$
452

$
230

$
818,485

Allowance for loan losses as
  a percentage of gross loans
  held for investment
1.64
%
0.50
%
0.79
%
0.10
%
1.39
%
7.74
%
3.48
%
1.01
%

 
 
Quarter Ended March 31, 2015
(In Thousands)
Single-family
Multi-family
Commercial Real Estate
Construction
Commercial Business
Consumer
Total
Allowance for loan losses:
 
 
 
 
 
 
 
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

 
 
 
 
 
 
 
 
 
Allowance for loan losses:
 
 
 
 
 
 
 
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

 
 
 
 
 
 
 
 
 
Loans held for investment:
 
 
 
 
 
 
 
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, 2016
(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
124

(885
)
(209
)
(32
)
1

(93
)
—

(1,094
)
Recoveries
356

167

216

—

—

85

1

825

Charge-offs
(253
)
—

—

—

—

—

(2
)
(255
)
 
Allowance for loan losses,
  end of period
$
5,507

$
1,898

$
741

$
10

$
1

$
35

$
8

$
8,200

 
 
 
 
 
 
 
 
 
 
Allowance for loan losses:
 
 
 
 
 
 
 
 
Individually evaluated for
  impairment
$
—

$
—

$
—

$
—

$
—

$
20

$
—

$
20

Collectively evaluated for
  impairment
5,507

1,898

741

10

1

15

8

8,180

 
Allowance for loan losses,
  end of period
$
5,507

$
1,898

$
741

$
10

$
1

$
35

$
8

$
8,200

 
 
 
 
 
 
 
 
 
 
Loans held for investment:
 
 
 
 
 
 
 
 
Individually evaluated for
  impairment
$
7,638

$
1,933

$
—

$
—

$
—

$
98

$
—

$
9,669

Collectively evaluated for
  impairment
328,159

376,938

93,384

9,679

72

354

230

808,816

 
Total loans held for
  investment, gross
$
335,797

$
378,871

$
93,384

$
9,679

$
72

$
452

$
230

$
818,485

Allowance for loan losses as
  a percentage of gross loans
  held for investment
1.64
%
0.50
%
0.79
%
0.10
%
1.39
%
7.74
%
3.48
%
1.01
%



Nine Months Ended March 31, 2015
(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 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










Allowance for loan losses:







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

 
 







Loans held for investment:
 
 
 
 
 
 
 
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
%
Schedule of Allowance for Loan Losses
The following table summarizes the Corporation’s allowance for loan losses at March 31, 2016 and June 30, 2015:
(In Thousands)
March 31, 2016
June 30, 2015
Collectively evaluated for impairment:
 
 
Mortgage loans:
 
 
Single-family
$
5,507

$
5,202

Multi-family
1,898

2,616

Commercial real estate
741

734

Construction
10

42

Other
1

—

Commercial business loans
15

23

Consumer loans
8

9

Total collectively evaluated allowance
8,180

8,626

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

78

Commercial business loans
20

20

Total individually evaluated allowance
20

98

Total loan loss allowance
$
8,200

$
8,724


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)
2016
2015
2016
2015
 
 
 
 
 
Allowance at beginning of period
$
8,768

$
8,693

$
8,724

$
9,744

 
 
 
 
 
Recovery from the allowance for loan losses
(694
)
(111
)
(1,094
)
(1,283
)
 
 
 
 
 
Recoveries:
 

 

 

 

Mortgage loans:
 

 

 

 

Single-family
129

226

356

499

Multi-family
53

65

167

229

Commercial real estate
—

—

216

—

Commercial business loans
—

—

85

—

Consumer loans
1

—

1

1

Total recoveries
183

291

825

729

 
 
 
 
 
Charge-offs:
 

 

 

 

Mortgage loans:
 

 

 

 

Single-family
(57
)
(88
)
(253
)
(405
)
Commercial real estate
—

(73
)
—

(73
)
Consumer loans
—

—

(2
)
—

Total charge-offs
(57
)
(161
)
(255
)
(478
)
 
 
 
 
 
Net recoveries
126

130

570

251

Balance at end of period
$
8,200

$
8,712

$
8,200

$
8,712

 
 

 

 

 

Allowance for loan losses as a percentage of gross loans held for investment
1.01
 %
1.05
 %
1.01
 %
1.05
 %
Net recoveries as a percentage of average loans receivable, net, during the period (annualized)
(0.05
)%
(0.05
)%
(0.08
)%
(0.04
)%
Allowance for loan losses as a percentage of gross non-performing loans at the end of the period
62.31
 %
79.74
 %
62.31
 %
79.74
 %
Schedule of Recorded Investment in Non-Performing Loans
 
 
 
At March 31, 2016
 
 
 
Unpaid
 
 
 
Net
 
 
 
Principal
Related
Recorded
 
Recorded
(In Thousands)
Balance
Charge-offs
Investment
Allowance(1)
Investment
 
 
 
 
 
 
 
 
Mortgage loans:
 
 
 
 
 
 
Single-family:
 
 
 
 
 
 
 
With a related allowance
$
3,058

$
—

$
3,058

$
(776
)
$
2,282

 
 
Without a related allowance(2)
9,218

(1,580
)
7,638

—

7,638

 
Total single-family
12,276

(1,580
)
10,696

(776
)
9,920

 
 
 
 
 
 
 
 
 
Multi-family:
 
 
 
 
 
 
 
With a related allowance
471

—

471

(141
)
330

 
 
Without a related allowance(2)
3,025

(1,092
)
1,933

—

1,933

 
Total multi-family
3,496

(1,092
)
2,404

(141
)
2,263

 
 
 
 
 
 
 
 
Commercial business loans:
 
 
 
 
 
 
With a related allowance
98

—

98

(20
)
78

Total commercial business loans
98

—

98

(20
)
78

 
 
 
 
 
 
 
 
Total non-performing loans
$
15,870

$
(2,672
)
$
13,198

$
(937
)
$
12,261


(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 and nine months ended March 31, 2016 and 2015:
 
 
 
Quarter Ended March 31,
 
 
 
2016
 
2015
 
 
 
Average
Interest
 
Average
Interest
 
 
 
Recorded
Income
 
Recorded
Income
 
 
 
Investment
Recognized
 
Investment
Recognized
 
 
 
 
 
 
 
 
Without related allowances:
 
 
 
 
 
 
Mortgage loans:
 
 
 
 
 
 
 
Single-family
$
7,870

$
19

 
$
5,827

$
19

 
 
Multi-family
1,941

—

 
1,988

—

 
 
Commercial real estate
—

—

 
1,487

21

 
 
 
9,811

19

 
9,302

40

 
 
 
 
 
 
 
 
With related allowances:
 
 
 
 
 
 
Mortgage loans:
 
 
 
 
 
 
 
Single-family
2,529

22

 
1,619

8

 
 
Multi-family
314

7

 
259

—

 
Commercial business loans
98

2

 
116

2

 
 
2,941

31

 
1,994

10

 
 
 
 
 
 
 
 
Total
$
12,752

$
50

 
$
11,296

$
50


 
 
 
Nine Months Ended March 31,
 
 
 
2016
 
2015
 
 
 
Average
Interest
 
Average
Interest
 
 
 
Recorded
Income
 
Recorded
Income
 
 
 
Investment
Recognized
 
Investment
Recognized
 
 
 
 
 
 
 
 
Without related allowances:
 
 
 
 
 
 
Mortgage loans:
 
 
 
 
 
 
 
Single-family
$
8,544

$
22

 
$
6,813

$
53

 
 
Multi-family
1,988

66

 
2,094

—

 
 
Commercial real estate
666

28

 
1,926

146

 
 
 
11,198

116

 
10,833

199

 
 
 
 
 
 
 
 
With related allowances:
 
 
 
 
 
 
Mortgage loans:
 
 
 
 
 
 
 
Single-family
2,594

58

 
1,872

36

 
 
Multi-family
105

7

 
417

13

 
Commercial business loans
102

6

 
124

7

 
 
2,801

71

 
2,413

56

 
 
 
 
 
 
 
 
Total
$
13,999

$
187

 
$
13,246

$
255
Schedule of Aging Analysis of Non-Performing Loans
The following tables denote the past due status of the Corporation's gross loans held for investment, net of fair value adjustments, at the dates indicated.
 
 
March 31, 2016
(In Thousands)
Current
30-89 Days Past Due
Non-Accrual (1)
Total Loans Held for Investment
 
 
 
 
 
 
Mortgage loans:
 
 
 
 
 
Single-family
$
323,632

$
1,508

$
10,657

$
335,797

 
Multi-family
376,467

—

2,404

378,871

 
Commercial real estate
93,384

—

—

93,384

 
Construction
9,679

—

—

9,679

 
Other
72

—

—

72

Commercial business loans
354

—

98

452

Consumer loans
230

—

—

230

 
Total loans held for investment, gross
$
803,818

$
1,508

$
13,159

$
818,485



(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
 
 
 
 
 
 
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)
March 31, 2016
June 30, 2015
Restructured loans on non-accrual status:
 
 
Mortgage loans:
 
 
Single-family
$
3,002

$
2,902

Multi-family
1,542

1,593

Commercial real estate
—

1,019

Commercial business loans
78

89

Total
4,622

5,603

 
 
 
Restructured loans on accrual status:
 

 

Mortgage loans:
 

 

Single-family
1,114

989

Total
1,114

989

 
 
 
Total restructured loans
$
5,736

$
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 March 31, 2016
 
 
 
Unpaid
 
 
 
Net
 
 
 
Principal
Related
Recorded
 
Recorded
(In Thousands)
Balance
Charge-offs
Investment
Allowance(1)
Investment
 
 
 
 
 
 
 
 
Mortgage loans:
 
 
 
 
 
 
Single-family:
 
 
 
 
 
 
 
With a related allowance
$
1,227

$
—

$
1,227

$
(245
)
$
982

 
 
Without a related allowance(2)
3,929

(795
)
3,134

—

3,134

 
Total single-family
5,156

(795
)
4,361

(245
)
4,116

 
 
 
 
 
 
 
 
 
Multi-family:
 
 
 
 
 
 
 
Without a related allowance(2)
2,597

(1,055
)
1,542

—

1,542

 
Total multi-family
2,597

(1,055
)
1,542

—

1,542

 
 
 
 
 
 
 
 
Commercial business loans:
 
 
 
 
 
 
With a related allowance
98

—

98

(20
)
78

Total commercial business loans
98

—

98

(20
)
78

 
 
 
 
 
 
 
 
Total restructured loans
$
7,851

$
(1,850
)
$
6,001

$
(265
)
$
5,736


(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, net of fair value adjustments, by loan types and risk category at the dates indicated:
 
 
March 31, 2016
(In Thousands)
Single-family
Multi-family
Commercial Real Estate
Construction
Other Mortgage
Commercial Business
Consumer
Total
 
 
 
 
 
 
 
 
 
 
Pass
$
319,385

$
375,537

$
92,465

$
9,679

$
72

$
354

$
230

$
797,722

Special Mention
5,754

930

—

—

—

—

—

6,684

Substandard
10,658

2,404

919

—

—

98

—

14,079

 
Total loans held for
   investment, gross
$
335,797

$
378,871

$
93,384

$
9,679

$
72

$
452

$
230

$
818,485


 
 
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