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Loans Held For Investment (Tables)
 9 Months Ended
Mar. 31, 2017
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,
2017
June 30,
2016
Mortgage loans:
 
 
Single-family
$
319,714

$
324,497

Multi-family
459,180

415,627

Commercial real estate
96,364

99,528

Construction
16,552

14,653

Other
241

332

Commercial business loans
668

636

Consumer loans
126

203

Total loans held for investment, gross
892,845

855,476

 
 
 
Undisbursed loan funds
(9,468
)
(11,258
)
Advance payments of escrows
165

56

Deferred loan costs, net
5,243

4,418

Allowance for loan losses
(8,275
)
(8,670
)
Total loans held for investment, net
$
880,510

$
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
$
196,477

$
18,222

$
65,837

$
26,031

$
13,147

$
319,714

Multi-family
83,750

176,173

172,985

23,626

2,646

459,180

Commercial real estate
20,923

39,087

34,256

—

2,098

96,364

Construction
12,774

—

—

—

3,778

16,552

Other
—

—

—

—

241

241

Commercial business loans
167

—

—

—

501

668

Consumer loans
126

—

—

—

—

126

Total loans held for investment, gross
$
314,217

$
233,482

$
273,078

$
49,657

$
22,411

$
892,845
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, 2017
(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
$
4,283

$
3,156

$
836

$
65

$
6

$
37

$
8

$
8,391

(Recovery) provision for
  loan losses
(345
)
208

32

15

(1
)
(73
)
(1
)
(165
)
Recoveries
83

3

—

—

—

75

1

162

Charge-offs
(112
)
—

—

—

—

—

(1
)
(113
)
 
Allowance for loan losses,
  end of period
$
3,909

$
3,367

$
868

$
80

$
5

$
39

$
7

$
8,275

 
 
 
 
 
 
 
 
 
 
Allowance for loan losses:
 
 
 
 
 
 
 
 
Individually evaluated for
  impairment
$
—

$
—

$
—

$
—

$
—

$
15

$
—

$
15

Collectively evaluated for
  impairment
3,909

3,367

868

80

5

24

7

8,260

 
Allowance for loan losses,
  end of period
$
3,909

$
3,367

$
868

$
80

$
5

$
39

$
7

$
8,275

 
 
 
 
 
 
 
 
 
 
Loans held for investment:
 
 
 
 
 
 
 
 
Individually evaluated for
  impairment
$
6,849

$
372

$
201

$
—

$
—

$
83

$
—

$
7,505

Collectively evaluated for
  impairment
312,865

458,808

96,163

16,552

241

585

126

885,340

 
Total loans held for
  investment, gross
$
319,714

$
459,180

$
96,364

$
16,552

$
241

$
668

$
126

$
892,845

Allowance for loan losses as
  a percentage of gross loans
  held for investment
1.22
%
0.73
%
0.90
%
0.48
%
2.07
%
5.84
%
5.56
%
0.93
%

 
 
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
%
 
 
Nine Months Ended March 31, 2017
(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
(1,204
)
551

20

49

(2
)
(79
)
—

(665
)
Recoveries
379

16

—

—

—

75

2

472

Charge-offs
(199
)
—

—

—

—

—

(3
)
(202
)
 
Allowance for loan losses,
  end of period
$
3,909

$
3,367

$
868

$
80

$
5

$
39

$
7

$
8,275

 
 
 
 
 
 
 
 
 
 
Allowance for loan losses:
 
 
 
 
 
 
 
 
Individually evaluated for
  impairment
$
—

$
—

$
—

$
—

$
—

$
15

$
—

$
15

Collectively evaluated for
  impairment
3,909

3,367

868

80

5

24

7

8,260

 
Allowance for loan losses,
  end of period
$
3,909

$
3,367

$
868

$
80

$
5

$
39

$
7

$
8,275

 
 
 
 
 
 
 
 
 
 
Loans held for investment:
 
 
 
 
 
 
 
 
Individually evaluated for
  impairment
$
6,849

$
372

$
201

$
—

$
—

$
83

$
—

$
7,505

Collectively evaluated for
  impairment
312,865

458,808

96,163

16,552

241

585

126

885,340

 
Total loans held for
  investment, gross
$
319,714

$
459,180

$
96,364

$
16,552

$
241

$
668

$
126

$
892,845

Allowance for loan losses as
  a percentage of gross loans
  held for investment
1.22
%
0.73
%
0.90
%
0.48
%
2.07
%
5.84
%
5.56
%
0.93
%


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
%
Schedule of Allowance for Loan Losses
The following table summarizes the Corporation’s allowance for loan losses at March 31, 2017 and June 30, 2016:
(In Thousands)
March 31, 2017
June 30, 2016
Collectively evaluated for impairment:
 
 
Mortgage loans:
 
 
Single-family
$
3,909

$
4,933

Multi-family
3,367

2,800

Commercial real estate
868

848

Construction
80

31

Other
5

7

Commercial business loans
24

23

Consumer loans
7

8

Total collectively evaluated allowance
8,260

8,650

 
 
 
Individually evaluated for impairment:
 
 
Commercial business loans
15

20

Total individually evaluated allowance
15

20

Total loan loss allowance
$
8,275

$
8,670


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)
2017
2016
2017
2016
 
 
 
 
 
Allowance at beginning of period
$
8,391

$
8,768

$
8,670

$
8,724

 
 
 
 
 
Recovery from the allowance for loan losses
(165
)
(694
)
(665
)
(1,094
)
 
 
 
 
 
Recoveries:
 

 

 

 

Mortgage loans:
 

 

 

 

Single-family
83

129

379

356

Multi-family
3

53

16

167

Commercial real estate
—

—

—

216

Commercial business loans
75

—

75

85

Consumer loans
1

1

2

1

Total recoveries
162

183

472

825

 
 
 
 
 
Charge-offs:
 

 

 

 

Mortgage loans:
 

 

 

 

Single-family
(112
)
(57
)
(199
)
(253
)
Consumer loans
(1
)
—

(3
)
(2
)
Total charge-offs
(113
)
(57
)
(202
)
(255
)
 
 
 
 
 
Net recoveries
49

126

270

570

Balance at end of period
$
8,275

$
8,200

$
8,275

$
8,200

 
 

 

 

 

Allowance for loan losses as a percentage of gross loans held for investment at the end of the period
0.93
 %
1.01
 %
0.93
 %
1.01
 %
Net recoveries as a percentage of average loans receivable, net, during the period (annualized)
(0.02
)%
(0.05
)%
(0.03
)%
(0.08
)%
Schedule of Recorded Investment in Non-Performing Loans
 
 
 
At March 31, 2017
 
 
 
Unpaid
 
 
 
Net
 
 
 
Principal
Related
Recorded
 
Recorded
(In Thousands)
Balance
Charge-offs
Investment
Allowance(1)
Investment
 
 
 
 
 
 
 
 
Mortgage loans:
 
 
 
 
 
 
Single-family:
 
 
 
 
 
 
 
With a related allowance
$
1,722

$
—

$
1,722

$
(360
)
$
1,362

 
 
Without a related allowance(2)
7,863

(1,014
)
6,849

—

6,849

 
Total single-family
9,585

(1,014
)
8,571

(360
)
8,211

 
 
 
 
 
 
 
 
 
Multi-family:
 
 
 
 
 
 
 
Without a related allowance(2)
374

(2
)
372

—

372

 
Total multi-family
374

(2
)
372

—

372

 
 
 
 
 
 
 
 
 
Commercial real estate:
 
 
 
 
 
 
 
Without a related allowance(2)
201

—

201

—

201

 
Total commercial real estate
201

—

201

—

201

 
 
 
 
 
 
 
 
Commercial business loans:
 
 
 
 
 
 
With a related allowance
83

—

83

(15
)
68

Total commercial business loans
83

—

83

(15
)
68

 
 
 
 
 
 
 
 
Consumer loans:
 
 
 
 
 
 
Without a related allowance(2)
11

(11
)
—

—

—

Total consumer loans
11

(11
)
—

—

—

 
 
 
 
 
 
 
 
Total non-performing loans
$
10,254

$
(1,027
)
$
9,227

$
(375
)
$
8,852


(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 nine months ended March 31, 2017 and 2016:
 
 
 
Quarter Ended March 31,
 
 
 
2017
 
2016
 
 
 
Average
Interest
 
Average
Interest
 
 
 
Recorded
Income
 
Recorded
Income
 
 
 
Investment
Recognized
 
Investment
Recognized
 
 
 
 
 
 
 
 
Without related allowances:
 
 
 
 
 
 
Mortgage loans:
 
 
 
 
 
 
 
Single-family
$
7,325

$
115

 
$
7,870

$
19

 
 
Multi-family
373

4

 
1,941

—

 
 
Commercial real estate
134

1

 
—

—

 
 
 
7,832

120

 
9,811

19

 
 
 
 
 
 
 
 
With related allowances:
 
 
 
 
 
 
Mortgage loans:
 
 
 
 
 
 
 
Single-family
1,398

10

 
2,529

22

 
 
Multi-family
—

—

 
314

7

 
Commercial business loans
84

2

 
98

2

 
 
1,482

12

 
2,941

31

 
 
 
 
 
 
 
 
Total
$
9,314

$
132

 
$
12,752

$
50


 
 
 
Nine Months Ended March 31,
 
 
 
2017
 
2016
 
 
 
Average
Interest
 
Average
Interest
 
 
 
Recorded
Income
 
Recorded
Income
 
 
 
Investment
Recognized
 
Investment
Recognized
 
 
 
 
 
 
 
 
Without related allowances:
 
 
 
 
 
 
Mortgage loans:
 
 
 
 
 
 
 
Single-family
$
8,480

$
152

 
$
8,544

$
22

 
 
Multi-family
406

4

 
1,988

66

 
 
Commercial real estate
45

1

 
666

28

 
 
 
8,931

157

 
11,198

116

 
 
 
 
 
 
 
 
With related allowances:
 
 
 
 
 
 
Mortgage loans:
 
 
 
 
 
 
 
Single-family
1,287

56

 
2,594

58

 
 
Multi-family
156

17

 
105

7

 
Commercial business loans
88

5

 
102

6

 
 
1,531

78

 
2,801

71

 
 
 
 
 
 
 
 
Total
$
10,462

$
235

 
$
13,999

$
187
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, 2017
(In Thousands)
Current
30-89 Days Past Due
Non-Accrual (1)
Total Loans Held for Investment
 
 
 
 
 
 
Mortgage loans:
 
 
 
 
 
Single-family
$
310,203

$
978

$
8,533

$
319,714

 
Multi-family
458,808

—

372

459,180

 
Commercial real estate
96,163

—

201

96,364

 
Construction
16,552

—

—

16,552

 
Other
241

—

—

241

Commercial business loans
585

—

83

668

Consumer loans
126

—

—

126

 
Total loans held for investment, gross
$
882,678

$
978

$
9,189

$
892,845



(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)
March 31, 2017
June 30, 2016
Restructured loans on non-accrual status:
 
 
Mortgage loans:
 
 
Single-family
$
3,507

$
3,232

Commercial business loans
68

76

Total
3,575

3,308

 
 
 
Restructured loans on accrual status:
 

 

Mortgage loans:
 

 

Single-family
—

1,290

Total
—

1,290

 
 
 
Total restructured loans
$
3,575

$
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 March 31, 2017
 
 
 
Unpaid
 
 
 
Net
 
 
 
Principal
Related
Recorded
 
Recorded
(In Thousands)
Balance
Charge-offs
Investment
Allowance(1)
Investment
 
 
 
 
 
 
 
 
Mortgage loans:
 
 
 
 
 
 
Single-family:
 
 
 
 
 
 
 
With a related allowance
$
923

$
—

$
923

$
(185
)
$
738

 
 
Without a related allowance(2)
3,274

(505
)
2,769

—

2,769

 
Total single-family
4,197

(505
)
3,692

(185
)
3,507

 
 
 
 
 
 
 
 
Commercial business loans:
 
 
 
 
 
 
With a related allowance
83

—

83

(15
)
68

Total commercial business loans
83

—

83

(15
)
68

 
 
 
 
 
 
 
 
Total restructured loans
$
4,280

$
(505
)
$
3,775

$
(200
)
$
3,575


(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:
 
 
March 31, 2017
(In Thousands)
Single-family
Multi-family
Commercial Real Estate
Construction
Other Mortgage
Commercial Business
Consumer
Total
 
 
 
 
 
 
 
 
 
 
Pass
$
307,365

$
455,543

$
96,163

$
16,552

$
241

$
585

$
126

$
876,575

Special Mention
3,816

3,265

—

—

—

—

—

7,081

Substandard
8,533

372

201

—

—

83

—

9,189

 
Total loans held for
   investment, gross
$
319,714

$
459,180

$
96,364

$
16,552

$
241

$
668

$
126

$
892,845


 
 
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