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Loans Held For Investment (Tables)
 3 Months Ended
Sep. 30, 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)
September 30,
2016
June 30,
2016
Mortgage loans:
 
 
Single-family
$
312,795

$
324,497

Multi-family
438,423

415,627

Commercial real estate
100,136

99,528

Construction
15,811

14,653

Other
331

332

Commercial business loans
624

636

Consumer loans
199

203

Total loans held for investment, gross
868,319

855,476

 
 
 
Undisbursed loan funds
(10,447
)
(11,258
)
Advance payments of escrows
23

56

Deferred loan costs, net
4,788

4,418

Allowance for loan losses
(8,725
)
(8,670
)
Total loans held for investment, net
$
853,958

$
840,022
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
$
226,639

$
14,936

$
52,519

$
5,697

$
13,004

$
312,795

Multi-family
67,240

178,065

179,594

10,567

2,957

438,423

Commercial real estate
11,039

39,975

46,163

—

2,959

100,136

Construction
9,556

—

—

—

6,255

15,811

Other
—

—

—

—

331

331

Commercial business loans
107

—

—

—

517

624

Consumer loans
197

—

—

—

2

199

Total loans held for investment, gross
$
314,778

$
232,976

$
278,276

$
16,264

$
26,025

$
868,319
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, 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
$
4,933

$
2,800

$
848

$
31

$
7

$
43

$
8

$
8,670

(Recovery) provision for
  loan losses
(555
)
379

6

22

—

(1
)
(1
)
(150
)
Recoveries
263

7

—

—

—

—

1

271

Charge-offs
(66
)
—

—

—

—

—

—

(66
)
 
Allowance for loan losses,
  end of period
$
4,575

$
3,186

$
854

$
53

$
7

$
42

$
8

$
8,725

 
 
 
 
 
 
 
 
 
 
Allowance for loan losses:
 
 
 
 
 
 
 
 
Individually evaluated for
  impairment
$
—

$
—

$
—

$
—

$
—

$
20

$
—

$
20

Collectively evaluated for
  impairment
4,575

3,186

854

53

7

22

8

8,705

 
Allowance for loan losses,
  end of period
$
4,575

$
3,186

$
854

$
53

$
7

$
42

$
8

$
8,725

 
 
 
 
 
 
 
 
 
 
Loans held for investment:
 
 
 
 
 
 
 
 
Individually evaluated for
  impairment
$
6,634

$
377

$
—

$
—

$
—

$
94

$
—

$
7,105

Collectively evaluated for
  impairment
306,161

438,046

100,136

15,811

331

530

199

861,214

 
Total loans held for
  investment, gross
$
312,795

$
438,423

$
100,136

$
15,811

$
331

$
624

$
199

$
868,319

Allowance for loan losses as
  a percentage of gross loans
  held for investment
1.46
%
0.73
%
0.85
%
0.34
%
2.11
%
6.73
%
4.02
%
1.01
%

 
 
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
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Schedule of Allowance for Loan Losses
The following table summarizes the Corporation’s allowance for loan losses at September 30, 2016 and June 30, 2016:
(In Thousands)
September 30, 2016
June 30, 2016
Collectively evaluated for impairment:
 
 
Mortgage loans:
 
 
Single-family
$
4,575

$
4,933

Multi-family
3,186

2,800

Commercial real estate
854

848

Construction
53

31

Other
7

7

Commercial business loans
22

23

Consumer loans
8

8

Total collectively evaluated allowance
8,705

8,650

 
 
 
Individually evaluated for impairment:
 
 
Commercial business loans
20

20

Total individually evaluated allowance
20

20

Total loan loss allowance
$
8,725

$
8,670


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)
2016
2015
 
 
 
Allowance at beginning of period
$
8,670

$
8,724

 
 
 
Recovery from the allowance for loan losses
(150
)
(38
)
 
 
 
Recoveries:
 

 

Mortgage loans:
 

 

Single-family
263

69

Multi-family
7

56

Commercial real estate
—

216

Commercial business loans
—

85

Consumer loans
1

—

Total recoveries
271

426

 
 
 
Charge-offs:
 

 

Mortgage loans:
 

 

Single-family
(66
)
(78
)
Total charge-offs
(66
)
(78
)
 
 
 
Net recoveries
205

348

Balance at end of period
$
8,725

$
9,034

 
 

 

Allowance for loan losses as a percentage of gross loans held for investment
1.01
 %
1.11
 %
Net recoveries as a percentage of average loans receivable, net, during the period (annualized)
(0.08
)%
(0.14
)%
Allowance for loan losses as a percentage of gross non-performing loans at the end of the period
79.93
 %
57.33
 %
Schedule of Recorded Investment in Non-Performing Loans
 
 
 
At September 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
$
3,383

$
—

$
3,383

$
(781
)
$
2,602

 
 
Without a related allowance(2)
7,708

(1,074
)
6,634

—

6,634

 
Total single-family
11,091

(1,074
)
10,017

(781
)
9,236

 
 
 
 
 
 
 
 
 
Multi-family:
 
 
 
 
 
 
 
With a related allowance
466

—

466

(140
)
326

 
 
Without a related allowance(2)
388

(11
)
377

—

377

 
Total multi-family
854

(11
)
843

(140
)
703

 
 
 
 
 
 
 
 
Commercial business loans:
 
 
 
 
 
 
With a related allowance
94

—

94

(20
)
74

Total commercial business loans
94

—

94

(20
)
74

 
 
 
 
 
 
 
 
Consumer loans:
 
 
 
 
 
 
Without a related allowance(2)
12

(12
)
—

—

—

Total consumer loans
12

(12
)
—

—

—

 
 
 
 
 
 
 
 
Total non-performing loans
$
12,051

$
(1,097
)
$
10,954

$
(941
)
$
10,013


(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, 2016
 
 
 
Unpaid
 
 
 
Net
 
 
 
Principal
Related
Recorded
 
Recorded
(In Thousands)
Balance
Charge-offs
Investment
Allowance(1)
Investment
 
 
 
 
 
 
 
 
Mortgage loans:
 
 
 
 
 
 
Single-family:
 
 
 
 
 
 
 
With a related allowance
$
3,328

$
—

$
3,328

$
(773
)
$
2,555

 
 
Without a related allowance(2)
8,339

(1,370
)
6,969

—

6,969

 
Total single-family
11,667

(1,370
)
10,297

(773
)
9,524

 
 
 
 
 
 
 
 
 
Multi-family:
 
 
 
 
 
 
 
With a related allowance
468

—

468

(141
)
327

 
 
Without a related allowance(2)
400

(18
)
382

—

382

 
Total multi-family
868

(18
)
850

(141
)
709

 
 
 
 
 
 
 
 
Commercial business loans:
 
 
 
 
 
 
With a related allowance
96

—

96

(20
)
76

Total commercial business loans
96

—

96

(20
)
76

 
 
 
 
 
 
 
 
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


(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, 2016 and 2015:
 
 
 
Quarter Ended September 30,
 
 
 
2016
 
2015
 
 
 
Average
Interest
 
Average
Interest
 
 
 
Recorded
Income
 
Recorded
Income
 
 
 
Investment
Recognized
 
Investment
Recognized
 
 
 
 
 
 
 
 
Without related allowances:
 
 
 
 
 
 
Mortgage loans:
 
 
 
 
 
 
 
Single-family
$
7,310

$
35

 
$
8,032

$
3

 
 
Multi-family
379

—

 
2,065

66

 
 
Commercial real estate
—

—

 
1,322

18

 
 
 
7,689

35

 
11,419

87

 
 
 
 
 
 
 
 
With related allowances:
 
 
 
 
 
 
Mortgage loans:
 
 
 
 
 
 
 
Single-family
3,230

27

 
3,801

12

 
 
Multi-family
467

5

 
—

—

 
Commercial business loans
94

2

 
107

2

 
 
3,791

34

 
3,908

14

 
 
 
 
 
 
 
 
Total
$
11,480

$
69

 
$
15,327

$
101

 
 
 
 
 
 
 
 
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.
 
 
September 30, 2016
(In Thousands)
Current
30-89 Days Past Due
Non-Accrual (1)
Total Loans Held for Investment
 
 
 
 
 
 
Mortgage loans:
 
 
 
 
 
Single-family
$
301,433

$
1,383

$
9,979

$
312,795

 
Multi-family
437,580

—

843

438,423

 
Commercial real estate
100,136

—

—

100,136

 
Construction
15,811

—

—

15,811

 
Other
331

—

—

331

Commercial business loans
530

—

94

624

Consumer loans
197

2

—

199

 
Total loans held for investment, gross
$
856,018

$
1,385

$
10,916

$
868,319



(1) All loans 90 days or greater past due are placed on non-accrual status.
 
 
June 30, 2016
(In Thousands)
Current
30-89 Days Past Due
Non-Accrual (1)
Total Loans Held for Investment
 
 
 
 
 
 
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.
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:
 
At
At
(In Thousands)
September 30, 2016
June 30, 2016
Restructured loans on non-accrual status:
 
 
Mortgage loans:
 
 
Single-family
$
3,650

$
3,232

Commercial business loans
74

76

Total
3,724

3,308

 
 
 
Restructured loans on accrual status:
 

 

Mortgage loans:
 

 

Single-family
—

1,290

Total
—

1,290

 
 
 
Total restructured loans
$
3,724

$
4,598
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, 2016
 
 
 
Unpaid
 
 
 
Net
 
 
 
Principal
Related
Recorded
 
Recorded
(In Thousands)
Balance
Charge-offs
Investment
Allowance(1)
Investment
 
 
 
 
 
 
 
 
Mortgage loans:
 
 
 
 
 
 
Single-family:
 
 
 
 
 
 
 
With a related allowance
$
1,489

$
—

$
1,489

$
(298
)
$
1,191

 
 
Without a related allowance(2)
3,026

(567
)
2,459

—

2,459

 
Total single-family
4,515

(567
)
3,948

(298
)
3,650

 
 
 
 
 
 
 
 
Commercial business loans:
 
 
 
 
 
 
With a related allowance
94

—

94

(20
)
74

Total commercial business loans
94

—

94

(20
)
74

 
 
 
 
 
 
 
 
Total restructured loans
$
4,609

$
(567
)
$
4,042

$
(318
)
$
3,724


(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, 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.
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:
 
 
September 30, 2016
(In Thousands)
Single-family
Multi-family
Commercial Real Estate
Construction
Other Mortgage
Commercial Business
Consumer
Total
 
 
 
 
 
 
 
 
 
 
Pass
$
298,937

$
432,567

$
100,136

$
15,811

$
331

$
530

$
199

$
848,511

Special Mention
3,879

5,013

—

—

—

—

—

8,892

Substandard
9,979

843

—

—

—

94

—

10,916

 
Total loans held for
   investment, gross
$
312,795

$
438,423

$
100,136

$
15,811

$
331

$
624

$
199

$
868,319


 
 
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