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Loans Held For Investment (Tables)
 6 Months Ended
Dec. 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)
December 31,
2016
June 30,
2016
Mortgage loans:
 
 
Single-family
$
316,595

$
324,497

Multi-family
448,465

415,627

Commercial real estate
98,044

99,528

Construction
16,872

14,653

Other
265

332

Commercial business loans
610

636

Consumer loans
184

203

Total loans held for investment, gross
881,035

855,476

 
 
 
Undisbursed loan funds
(9,953
)
(11,258
)
Advance payments of escrows
99

56

Deferred loan costs, net
5,195

4,418

Allowance for loan losses
(8,391
)
(8,670
)
Total loans held for investment, net
$
867,985

$
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
$
212,860

$
18,008

$
61,426

$
11,151

$
13,150

$
316,595

Multi-family
74,859

181,691

168,987

20,002

2,926

448,465

Commercial real estate
17,909

40,959

36,270

—

2,906

98,044

Construction
11,217

—

—

—

5,655

16,872

Other
—

—

—

—

265

265

Commercial business loans
96

—

—

—

514

610

Consumer loans
184

—

—

—

—

184

Total loans held for investment, gross
$
317,125

$
240,658

$
266,683

$
31,153

$
25,416

$
881,035
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 December 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
$
4,575

$
3,186

$
854

$
53

$
7

$
42

$
8

$
8,725

(Recovery) provision for
  loan losses
(304
)
(36
)
(18
)
12

(1
)
(5
)
2

(350
)
Recoveries
33

6

—

—

—

—

—

39

Charge-offs
(21
)
—

—

—

—

—

(2
)
(23
)
 
Allowance for loan losses,
  end of period
$
4,283

$
3,156

$
836

$
65

$
6

$
37

$
8

$
8,391

 
 
 
 
 
 
 
 
 
 
Allowance for loan losses:
 
 
 
 
 
 
 
 
Individually evaluated for
  impairment
$
97

$
—

$
—

$
—

$
—

$
15

$
—

$
112

Collectively evaluated for
  impairment
4,186

3,156

836

65

6

22

8

8,279

 
Allowance for loan losses,
  end of period
$
4,283

$
3,156

$
836

$
65

$
6

$
37

$
8

$
8,391

 
 
 
 
 
 
 
 
 
 
Loans held for investment:
 
 
 
 
 
 
 
 
Individually evaluated for
  impairment
$
7,844

$
374

$
—

$
—

$
—

$
85

$
—

$
8,303

Collectively evaluated for
  impairment
308,751

448,091

98,044

16,872

265

525

184

872,732

 
Total loans held for
  investment, gross
$
316,595

$
448,465

$
98,044

$
16,872

$
265

$
610

$
184

$
881,035

Allowance for loan losses as
  a percentage of gross loans
  held for investment
1.35
%
0.70
%
0.85
%
0.39
%
2.26
%
6.07
%
4.35
%
0.96
%

 
 
Quarter Ended December 31, 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
$
6,310

$
1,943

$
697

$
40

$
2

$
33

$
9

$
9,034

(Recovery) provision for
  loan losses
(630
)
(82
)
81

264

(1
)
4

2

(362
)
Recoveries
158

58

—

—

—

—

—

216

Charge-offs
(118
)
—

—

—

—

—

(2
)
(120
)
 
Allowance for loan losses,
  end of period
$
5,720

$
1,919

$
778

$
304

$
1

$
37

$
9

$
8,768

 
 
 
 
 
 
 
 
 
 
Allowance for loan losses:
 
 
 
 
 
 
 
 
Individually evaluated for
  impairment
$
—

$
—

$
—

$
—

$
—

$
20

$
—

$
20

Collectively evaluated for
  impairment
5,720

1,919

778

304

1

17

9

8,748

 
Allowance for loan losses,
  end of period
$
5,720

$
1,919

$
778

$
304

$
1

$
37

$
9

$
8,768

 
 
 
 
 
 
 
 
 
 
Loans held for investment:
 
 
 
 
 
 
 
 
Individually evaluated for
  impairment
$
7,436

$
1,953

$
—

$
—

$
—

$
100

$
—

$
9,489

Collectively evaluated for
  impairment
336,563

370,147

98,574

10,173

72

387

241

816,157

 
Total loans held for
  investment, gross
$
343,999

$
372,100

$
98,574

$
10,173

$
72

$
487

$
241

$
825,646

Allowance for loan losses as
  a percentage of gross loans
  held for investment
1.66
%
0.52
%
0.79
%
2.99
%
1.39
%
7.60
%
3.73
%
1.07
%
 
 
Six Months Ended December 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
$
4,933

$
2,800

$
848

$
31

$
7

$
43

$
8

$
8,670

(Recovery) provision for
  loan losses
(859
)
343

(12
)
34

(1
)
(6
)
1

(500
)
Recoveries
296

13

—

—

—

—

1

310

Charge-offs
(87
)
—

—

—

—

—

(2
)
(89
)
 
Allowance for loan losses,
  end of period
$
4,283

$
3,156

$
836

$
65

$
6

$
37

$
8

$
8,391

 
 
 
 
 
 
 
 
 
 
Allowance for loan losses:
 
 
 
 
 
 
 
 
Individually evaluated for
  impairment
$
97

$
—

$
—

$
—

$
—

$
15

$
—

$
112

Collectively evaluated for
  impairment
4,186

3,156

836

65

6

22

8

8,279

 
Allowance for loan losses,
  end of period
$
4,283

$
3,156

$
836

$
65

$
6

$
37

$
8

$
8,391

 
 
 
 
 
 
 
 
 
 
Loans held for investment:
 
 
 
 
 
 
 
 
Individually evaluated for
  impairment
$
7,844

$
374

$
—

$
—

$
—

$
85

$
—

$
8,303

Collectively evaluated for
  impairment
308,751

448,091

98,044

16,872

265

525

184

872,732

 
Total loans held for
  investment, gross
$
316,595

$
448,465

$
98,044

$
16,872

$
265

$
610

$
184

$
881,035

Allowance for loan losses as
  a percentage of gross loans
  held for investment
1.35
%
0.70
%
0.85
%
0.39
%
2.26
%
6.07
%
4.35
%
0.96
%


Six Months Ended December 31, 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
409

(811
)
(172
)
262

1

(91
)
2

(400
)
Recoveries
227

114

216

—

—

85

—

642

Charge-offs
(196
)
—

—

—

—

—

(2
)
(198
)
 
Allowance for loan losses, end of
  period
$
5,720

$
1,919

$
778

$
304

$
1

$
37

$
9

$
8,768











Allowance for loan losses:








Individually evaluated for
  impairment
$
—

$
—

$
—

$
—

$
—

$
20

$
—

$
20

Collectively evaluated for
  impairment
5,720

1,919

778

304

1

17

9

8,748

 
Allowance for loan losses,
  end of period
$
5,720

$
1,919

$
778

$
304

$
1

$
37

$
9

$
8,768

 
 








Loans held for investment:
 
 
 
 
 
 
 
 
Individually evaluated for
  impairment
$
7,436

$
1,953

$
—

$
—

$
—

$
100

$
—

$
9,489

Collectively evaluated for
  impairment
336,563

370,147

98,574

10,173

72

387

241

816,157

 
Total loans held for
  investment, gross
$
343,999

$
372,100

$
98,574

$
10,173

$
72

$
487

$
241

$
825,646

Allowance for loan losses as
  a percentage of gross loans
  held for investment
1.66
%
0.52
%
0.79
%
2.99
%
1.39
%
7.60
%
3.73
%
1.07
%
Schedule of Allowance for Loan Losses
The following table summarizes the Corporation’s allowance for loan losses at December 31, 2016 and June 30, 2016:
(In Thousands)
December 31, 2016
June 30, 2016
Collectively evaluated for impairment:
 
 
Mortgage loans:
 
 
Single-family
$
4,186

$
4,933

Multi-family
3,156

2,800

Commercial real estate
836

848

Construction
65

31

Other
6

7

Commercial business loans
22

23

Consumer loans
8

8

Total collectively evaluated allowance
8,279

8,650

 
 
 
Individually evaluated for impairment:
 
 
Mortgage loans:
 
 
Single-family
97

—

Commercial business loans
15

20

Total individually evaluated allowance
112

20

Total loan loss allowance
$
8,391

$
8,670


The following table is provided to disclose additional details on the Corporation’s allowance for loan losses:
 
For the Quarters Ended
December 31,
For the Six Months Ended
December 31,
(Dollars in Thousands)
2016
2015
2016
2015
 
 
 
 
 
Allowance at beginning of period
$
8,725

$
9,034

$
8,670

$
8,724

 
 
 
 
 
Recovery from the allowance for loan losses
(350
)
(362
)
(500
)
(400
)
 
 
 
 
 
Recoveries:
 

 

 

 

Mortgage loans:
 

 

 

 

Single-family
33

158

296

227

Multi-family
6

58

13

114

Commercial real estate
—

—

—

216

Commercial business loans
—

—

—

85

Consumer loans
—

—

1

—

Total recoveries
39

216

310

642

 
 
 
 
 
Charge-offs:
 

 

 

 

Mortgage loans:
 

 

 

 

Single-family
(21
)
(118
)
(87
)
(196
)
Consumer loans
(2
)
(2
)
(2
)
(2
)
Total charge-offs
(23
)
(120
)
(89
)
(198
)
 
 
 
 
 
Net recoveries
16

96

221

444

Balance at end of period
$
8,391

$
8,768

$
8,391

$
8,768

 
 

 

 

 

Allowance for loan losses as a percentage of gross loans held for investment at the end of the period
0.96
 %
1.07
 %
0.96
 %
1.07
 %
Net recoveries as a percentage of average loans receivable, net, during the period (annualized)
(0.01
)%
(0.04
)%
(0.04
)%
(0.09
)%
Allowance for loan losses as a percentage of gross non-performing loans at the end of the period
78.69
 %
67.35
 %
78.69
 %
67.35
 %
Schedule of Recorded Investment in Non-Performing Loans
 
 
 
At December 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
$
2,571

$
—

$
2,571

$
(538
)
$
2,033

 
 
Without a related allowance(2)
8,453

(1,059
)
7,394

—

7,394

 
Total single-family
11,024

(1,059
)
9,965

(538
)
9,427

 
 
 
 
 
 
 
 
 
Multi-family:
 
 
 
 
 
 
 
With a related allowance
277

—

277

(83
)
194

 
 
Without a related allowance(2)
380

(6
)
374

—

374

 
Total multi-family
657

(6
)
651

(83
)
568

 
 
 
 
 
 
 
 
Commercial business loans:
 
 
 
 
 
 
With a related allowance
85

—

85

(15
)
70

Total commercial business loans
85

—

85

(15
)
70

 
 
 
 
 
 
 
 
Consumer loans:
 
 
 
 
 
 
Without a related allowance(2)
12

(12
)
—

—

—

Total consumer loans
12

(12
)
—

—

—

 
 
 
 
 
 
 
 
Total non-performing loans
$
11,778

$
(1,077
)
$
10,701

$
(636
)
$
10,065


(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 and six months ended December 31, 2016 and 2015:
 
 
 
Quarter Ended December 31,
 
 
 
2016
 
2015
 
 
 
Average
Interest
 
Average
Interest
 
 
 
Recorded
Income
 
Recorded
Income
 
 
 
Investment
Recognized
 
Investment
Recognized
 
 
 
 
 
 
 
 
Without related allowances:
 
 
 
 
 
 
Mortgage loans:
 
 
 
 
 
 
 
Single-family
$
7,458

$
1

 
$
7,525

$
—

 
 
Multi-family
375

—

 
1,961

—

 
 
Commercial real estate
—

—

 
676

10

 
 
 
7,833

1

 
10,162

10

 
 
 
 
 
 
 
 
With related allowances:
 
 
 
 
 
 
Mortgage loans:
 
 
 
 
 
 
 
Single-family
2,578

19

 
3,669

24

 
 
Multi-family
92

12

 
—

—

 
Commercial business loans
88

2

 
100

2

 
 
2,758

33

 
3,769

26

 
 
 
 
 
 
 
 
Total
$
10,591

$
34

 
$
13,931

$
36


 
 
 
Six Months Ended December 31,
 
 
 
2016
 
2015
 
 
 
Average
Interest
 
Average
Interest
 
 
 
Recorded
Income
 
Recorded
Income
 
 
 
Investment
Recognized
 
Investment
Recognized
 
 
 
 
 
 
 
 
Without related allowances:
 
 
 
 
 
 
Mortgage loans:
 
 
 
 
 
 
 
Single-family
$
7,771

$
37

 
$
8,272

$
3

 
 
Multi-family
377

—

 
2,013

66

 
 
Commercial real estate
—

—

 
999

28

 
 
 
8,148

37

 
11,284

97

 
 
 
 
 
 
 
 
With related allowances:
 
 
 
 
 
 
Mortgage loans:
 
 
 
 
 
 
 
Single-family
2,517

46

 
3,241

36

 
 
Multi-family
279

17

 
—

—

 
Commercial business loans
91

3

 
104

4

 
 
2,887

66

 
3,345

40

 
 
 
 
 
 
 
 
Total
$
11,035

$
103

 
$
14,629

$
137
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.
 
 
December 31, 2016
(In Thousands)
Current
30-89 Days Past Due
Non-Accrual (1)
Total Loans Held for Investment
 
 
 
 
 
 
Mortgage loans:
 
 
 
 
 
Single-family
$
305,371

$
1,297

$
9,927

$
316,595

 
Multi-family
447,814

—

651

448,465

 
Commercial real estate
98,044

—

—

98,044

 
Construction
16,872

—

—

16,872

 
Other
265

—

—

265

Commercial business loans
525

—

85

610

Consumer loans
183

1

—

184

 
Total loans held for investment, gross
$
869,074

$
1,298

$
10,663

$
881,035



(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)
December 31, 2016
June 30, 2016
Restructured loans on non-accrual status:
 
 
Mortgage loans:
 
 
Single-family
$
3,711

$
3,232

Commercial business loans
70

76

Total
3,781

3,308

 
 
 
Restructured loans on accrual status:
 

 

Mortgage loans:
 

 

Single-family
—

1,290

Total
—

1,290

 
 
 
Total restructured loans
$
3,781

$
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 December 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
$
930

$
—

$
930

$
(186
)
$
744

 
 
Without a related allowance(2)
3,531

(564
)
2,967

—

2,967

 
Total single-family
4,461

(564
)
3,897

(186
)
3,711

 
 
 
 
 
 
 
 
Commercial business loans:
 
 
 
 
 
 
With a related allowance
85

—

85

(15
)
70

Total commercial business loans
85

—

85

(15
)
70

 
 
 
 
 
 
 
 
Total restructured loans
$
4,546

$
(564
)
$
3,982

$
(201
)
$
3,781


(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:
 
 
December 31, 2016
(In Thousands)
Single-family
Multi-family
Commercial Real Estate
Construction
Other Mortgage
Commercial Business
Consumer
Total
 
 
 
 
 
 
 
 
 
 
Pass
$
301,958

$
444,303

$
98,044

$
16,872

$
265

$
525

$
184

$
862,151

Special Mention
4,710

3,511

—

—

—

—

—

8,221

Substandard
9,927

651

—

—

—

85

—

10,663

 
Total loans held for
   investment, gross
$
316,595

$
448,465

$
98,044

$
16,872

$
265

$
610

$
184

$
881,035


 
 
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