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Loans Held For Investment (Tables)
 3 Months Ended
Sep. 30, 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)
September 30,
2017
June 30,
2017
Mortgage loans:
 
 
Single-family
$
322,363

$
322,197

Multi-family
482,617

479,959

Commercial real estate
96,863

97,562

Construction
16,290

16,009

Commercial business loans
466

576

Consumer loans
131

129

Total loans held for investment, gross
918,730

916,432

 
 
 
Undisbursed loan funds
(8,189
)
(9,015
)
Advance payments of escrows
24

61

Deferred loan costs, net
5,558

5,480

Allowance for loan losses
(8,063
)
(8,039
)
Total loans held for investment, net
$
908,060

$
904,919
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
$
161,098

$
21,404

$
77,223

$
48,293

$
14,345

$
322,363

Multi-family
111,180

174,809

179,602

14,441

2,585

482,617

Commercial real estate
23,134

40,725

32,377

—

627

96,863

Construction
15,861

—

—

—

429

16,290

Commercial business loans
61

—

—

—

405

466

Consumer loans
131

—

—

—

—

131

Total loans held for investment, gross
$
311,465

$
236,938

$
289,202

$
62,734

$
18,391

$
918,730
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, 2017
(In Thousands)
Single-family
Multi-family
Commercial Real Estate
Construction
Commercial Business
Consumer
Total
Allowance for loan losses:
 
 
 
 
 
 
 
Allowance at beginning of period
$
3,601

$
3,420

$
879

$
96

$
36

$
7

$
8,039

Provision (recovery) for loan losses
123

11

(4
)
44

(5
)
—

169

Recoveries
84

—

—

—

—

—

84

Charge-offs
(229
)
—

—

—

—

—

(229
)
 
Allowance for loan losses,
  end of period
$
3,579

$
3,431

$
875

$
140

$
31

$
7

$
8,063

 
 
 
 
 
 
 
 
 
Allowance for loan losses:
 
 
 
 
 
 
 
Individually evaluated for impairment
$
17

$
—

$
—

$
—

$
15

$
—

$
32

Collectively evaluated for impairment
3,562

3,431

875

140

16

7

8,031

 
Allowance for loan losses,
  end of period
$
3,579

$
3,431

$
875

$
140

$
31

$
7

$
8,063

 
 
 
 
 
 
 
 
 
Loans held for investment:
 
 
 
 
 
 
 
Individually evaluated for impairment
$
6,239

$
—

$
—

$
—

$
79

$
—

$
6,318

Collectively evaluated for impairment
316,124

482,617

96,863

16,290

387

131

912,412

 
Total loans held for investment,
  gross
$
322,363

$
482,617

$
96,863

$
16,290

$
466

$
131

$
918,730

Allowance for loan losses as
  a percentage of gross loans
  held for investment
1.11
%
0.71
%
0.90
%
0.86
%
6.65
%
5.34
%
0.88
%

 
 
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
%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Schedule of Allowance for Loan Losses
The following table summarizes the Corporation’s allowance for loan losses at September 30, 2017 and June 30, 2017:
(In Thousands)
September 30, 2017
June 30, 2017
Collectively evaluated for impairment:
 
 
Mortgage loans:
 
 
Single-family
$
3,562

$
3,515

Multi-family
3,431

3,420

Commercial real estate
875

879

Construction
140

96

Commercial business loans
16

21

Consumer loans
7

7

Total collectively evaluated allowance
8,031

7,938

 
 
 
Individually evaluated for impairment:
 
 
Mortgage loans:
 
 
Single-family
17

86

Commercial business loans
15

15

Total individually evaluated allowance
32

101

Total loan loss allowance
$
8,063

$
8,039


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)
2017
2016
 
 
 
Allowance at beginning of period
$
8,039

$
8,670

 
 
 
Provision (recovery) for loan losses
169

(150
)
 
 
 
Recoveries:
 

 

Mortgage loans:
 

 

Single-family
84

263

Multi-family
—

7

Consumer loans
—

1

Total recoveries
84

271

 
 
 
Charge-offs:
 

 

Mortgage loans:
 

 

Single-family
(229
)
(66
)
Total charge-offs
(229
)
(66
)
 
 
 
Net (charge-offs) recoveries
(145
)
205

Balance at end of period
$
8,063

$
8,725

 
 

 

Allowance for loan losses as a percentage of gross loans held for investment at the end of the period
0.88
%
1.01
 %
Net charge-offs (recoveries) as a percentage of average loans receivable, net, during the period (annualized)
0.06
%
(0.08
)%
Schedule of Recorded Investment in Non-Performing Loans
 
 
 
At September 30, 2017
 
 
 
Unpaid
 
 
 
Net
 
 
 
Principal
Related
Recorded
 
Recorded
(In Thousands)
Balance
Charge-offs
Investment
Allowance(1)
Investment
 
 
 
 
 
 
 
 
Mortgage loans:
 
 
 
 
 
 
Single-family:
 
 
 
 
 
 
 
With a related allowance
$
2,407

$
—

$
2,407

$
(463
)
$
1,944

 
 
Without a related allowance(2)
7,013

(1,030
)
5,983

—

5,983

 
Total single-family
9,420

(1,030
)
8,390

(463
)
7,927

 
 
 
 
 
 
 
 
Commercial business loans:
 
 
 
 
 
 
With a related allowance
79

—

79

(15
)
64

Total commercial business loans
79

—

79

(15
)
64

 
 
 
 
 
 
 
 
Total non-performing loans
$
9,499

$
(1,030
)
$
8,469

$
(478
)
$
7,991


(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, 2017
 
 
 
Unpaid
 
 
 
Net
 
 
 
Principal
Related
Recorded
 
Recorded
(In Thousands)
Balance
Charge-offs
Investment
Allowance(1)
Investment
 
 
 
 
 
 
 
 
Mortgage loans:
 
 
 
 
 
 
Single-family:
 
 
 
 
 
 
 
With a related allowance
$
1,821

$
—

$
1,821

$
(325
)
$
1,496

 
 
Without a related allowance(2)
7,119

(886
)
6,233

—

6,233

 
Total single-family
8,940

(886
)
8,054

(325
)
7,729

 
 
 
 
 
 
 
 
 
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
80

—

80

(15
)
65

Total commercial business loans
80

—

80

(15
)
65

 
 
 
 
 
 
 
 
Total non-performing loans
$
9,221

$
(886
)
$
8,335

$
(340
)
$
7,995


(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, 2017 and 2016:
 
 
 
Quarter Ended September 30,
 
 
 
2017
 
2016
 
 
 
Average
Interest
 
Average
Interest
 
 
 
Recorded
Income
 
Recorded
Income
(In Thousands)
Investment
Recognized
 
Investment
Recognized
 
 
 
 
 
 
 
 
Without related allowances:
 
 
 
 
 
 
Mortgage loans:
 
 
 
 
 
 
 
Single-family
$
6,167

$
135

 
$
7,310

$
35

 
 
Multi-family
—

—

 
379

—

 
 
Commercial real estate
67

13

 
—

—

 
 
 
6,234

148

 
7,689

35

 
 
 
 
 
 
 
 
With related allowances:
 
 
 
 
 
 
Mortgage loans:
 
 
 
 
 
 
 
Single-family
1,609

11

 
3,230

27

 
 
Multi-family
—

—

 
467

5

 
Commercial business loans
79

1

 
94

2

 
 
1,688

12

 
3,791

34

 
 
 
 
 
 
 
 
Total
$
7,922

$
160

 
$
11,480

$
69

 
 
 
 
 
 
 
 
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, 2017
(In Thousands)
Current
30-89 Days Past Due
Non-Accrual (1)
Total Loans Held for Investment
 
 
 
 
 
 
Mortgage loans:
 
 
 
 
 
Single-family
$
312,499

$
1,512

$
8,352

$
322,363

 
Multi-family
482,617

—

—

482,617

 
Commercial real estate
96,863

—

—

96,863

 
Construction
16,290

—

—

16,290

Commercial business loans
387

—

79

466

Consumer loans
131

—

—

131

 
Total loans held for investment, gross
$
908,787

$
1,512

$
8,431

$
918,730



(1) All loans 90 days or greater past due are placed on non-accrual status.
 
 
June 30, 2017
(In Thousands)
Current
30-89 Days Past Due
Non-Accrual (1)
Total Loans Held for Investment
 
 
 
 
 
 
Mortgage loans:
 
 
 
 
 
Single-family
$
313,146

$
1,035

$
8,016

$
322,197

 
Multi-family
479,959

—

—

479,959

 
Commercial real estate
97,361

—

201

97,562

 
Construction
16,009

—

—

16,009

Commercial business loans
496

—

80

576

Consumer loans
129

—

—

129

 
Total loans held for investment, gross
$
907,100

$
1,035

$
8,297

$
916,432

 
(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, 2017
June 30, 2017
Restructured loans on non-accrual status:
 
 
Mortgage loans:
 
 
Single-family
$
3,393

$
3,061

Commercial business loans
64

65

Total
3,457

3,126

 
 
 
Restructured loans on accrual status:
 

 

Mortgage loans:
 

 

Single-family
996

506

Total
996

506

 
 
 
Total restructured loans
$
4,453

$
3,632
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, 2017
 
 
 
Unpaid
 
 
 
Net
 
 
 
Principal
Related
Recorded
 
Recorded
(In Thousands)
Balance
Charge-offs
Investment
Allowance(1)
Investment
 
 
 
 
 
 
 
 
Mortgage loans:
 
 
 
 
 
 
Single-family:
 
 
 
 
 
 
 
With a related allowance
$
482

$
—

$
482

$
(97
)
$
385

 
 
Without a related allowance(2)
4,559

(555
)
4,004

—

4,004

 
Total single-family
5,041

(555
)
4,486

(97
)
4,389

 
 
 
 
 
 
 
 
Commercial business loans:
 
 
 
 
 
 
With a related allowance
79

—

79

(15
)
64

Total commercial business loans
79

—

79

(15
)
64

 
 
 
 
 
 
 
 
Total restructured loans
$
5,120

$
(555
)
$
4,565

$
(112
)
$
4,453


(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, 2017
 
 
 
Unpaid
 
 
 
Net
 
 
 
Principal
Related
Recorded
 
Recorded
(In Thousands)
Balance
Charge-offs
Investment
Allowance(1)
Investment
 
 
 
 
 
 
 
 
Mortgage loans:
 
 
 
 
 
 
Single-family
 
 
 
 
 
 
 
With a related allowance
$
485

$
—

$
485

$
(97
)
$
388

 
 
Without a related allowance(2)
3,618

(439
)
3,179

—

3,179

 
Total single-family
4,103

(439
)
3,664

(97
)
3,567

 
 
 
 
 
 
 
 
Commercial business loans:
 
 
 
 
 
 
With a related allowance
80

—

80

(15
)
65

Total commercial business loans
80

—

80

(15
)
65

 
 
 
 
 
 
 
 
Total restructured loans
$
4,183

$
(439
)
$
3,744

$
(112
)
$
3,632


(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, 2017
(In Thousands)
Single-family
Multi-family
Commercial Real Estate
Construction
Commercial Business
Consumer
Total
 
 
 
 
 
 
 
 
 
Pass
$
309,744

$
482,617

$
96,863

$
15,364

$
387

$
131

$
905,106

Special Mention
4,267

—

—

926

—

—

5,193

Substandard
8,352

—

—

—

79

—

8,431

 
Total loans held for
   investment, gross
$
322,363

$
482,617

$
96,863

$
16,290

$
466

$
131

$
918,730


 
 
June 30, 2017
(In Thousands)
Single-family
Multi-family
Commercial Real Estate
Construction
Commercial Business
Consumer
Total
 
 
 
 
 
 
 
 
 
Pass
$
310,738

$
479,687

$
97,361

$
16,009

$
496

$
129

$
904,420

Special Mention
3,443

272

—

—

—

—

3,715

Substandard
8,016

—

201

—

80

—

8,297

 
Total loans held for
   investment, gross
$
322,197

$
479,959

$
97,562

$
16,009

$
576

$
129

$
916,432