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Loans Held For Investment (Tables)
 12 Months Ended
Jun. 30, 2018
Loans and Leases Receivable Disclosure [Abstract]  
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.
 
 
Year Ended June 30, 2018
(In Thousands)
Single-family
Multi-family
Commercial Real Estate
Construction
Other Mortgage
Commercial Business
Consumer
Total
 
 
 
 
 
 
 
 
 
 
Allowance at beginning of period
$
3,601

$
3,420

$
879

$
96

$
—

$
36

$
7

$
8,039

(Recovery) provision for loan losses
(704
)
72

151

(49
)
3

(12
)
3

(536
)
Recoveries
278

—

—

—

—

—

—

278

Charge-offs
(392
)
—

—

—

—

—

(4
)
(396
)
 
Allowance for loan losses, end of
  period
$
2,783

$
3,492

$
1,030

$
47

$
3

$
24

$
6

$
7,385

 
 
 
 
 
 
 
 
 
 
Allowance:
 
 
 
 
 
 
 
 
Individually evaluated for impairment
$
151

$
—

$
—

$
—

$
—

$
6

$
—

$
157

Collectively evaluated for impairment
2,632

3,492

1,030

47

3

18

6

7,228

 
Allowance for loan losses, end of
  period
$
2,783

$
3,492

$
1,030

$
47

$
3

$
24

$
6

$
7,385

 
 
 
 
 
 
 
 
 
 
Gross Loans:
 
 
 
 
 
 
 
 
Individually evaluated for impairment
$
7,072

$
—

$
—

$
—

$
—

$
70

$
—

$
7,142

Collectively evaluated for impairment
307,736

476,008

109,726

7,476

167

430

109

901,652

 
Total loans held for investment,
  gross
$
314,808

$
476,008

$
109,726

$
7,476

$
167

$
500

$
109

$
908,794

Allowance for loan losses as a
  percentage of gross loans held for
  investment
0.88
%
0.73
%
0.94
%
0.63
%
1.80
%
4.80
%
5.50
%
0.81
%

 
 
Year Ended June 30, 2017
(In Thousands)
Single-family
Multi-family
Commercial Real Estate
Construction
Other Mortgage
Commercial Business
Consumer
Total
 
 
 
 
 
 
 
 
 
 
Allowance at beginning of period
$
4,933

$
2,800

$
848

$
31

$
7

$
43

$
8

$
8,670

(Recovery) provision for loan losses
(1,640
)
602

31

65

(7
)
(82
)
(11
)
(1,042
)
Recoveries
507

18

—

—

—

75

13

613

Charge-offs
(199
)
—

—

—

—

—

(3
)
(202
)
 
Allowance for loan losses, end of
  period
$
3,601

$
3,420

$
879

$
96

$
—

$
36

$
7

$
8,039

 
 
 
 
 
 
 
 
 
 
Allowance:
 
 
 
 
 
 
 
 
Individually evaluated for impairment
$
86

$
—

$
—

$
—

$
—

$
15

$
—

$
101

Collectively evaluated for impairment
3,515

3,420

879

96

—

21

7

7,938

 
Allowance for loan losses, end of
  period
$
3,601

$
3,420

$
879

$
96

$
—

$
36

$
7

$
8,039

 
 
 
 
 
 
 
 
 
 
Gross Loans:
 
 
 
 
 
 
 
 
Individually evaluated for impairment
$
6,933

$
—

$
201

$
—

$
—

$
80

$
—

$
7,214

Collectively evaluated for impairment
315,264

479,959

97,361

16,009

—

496

129

909,218

 
Total loans held for investment,
  gross
$
322,197

$
479,959

$
97,562

$
16,009

$
—

$
576

$
129

$
916,432

Allowance for loan losses as a
  percentage of gross loans held for
  investment
1.12
%
0.71
%
0.90
%
0.60
%
—
%
6.25
%
5.43
%
0.88
%
Schedule of Loans Held for Investment
Loans held for investment consisted of the following at June 30, 2018 and 2017 :
(In Thousands)
June 30, 2018
June 30,
2017
Mortgage loans:
 
 
Single-family
$
314,808

$
322,197

Multi-family
476,008

479,959

Commercial real estate
109,726

97,562

Construction
7,476

16,009

Other
167

—

Commercial business loans
500

576

Consumer loans
109

129

Total loans held for investment, gross
908,794

916,432

 
 
 
Undisbursed loan funds
(4,302
)
(9,015
)
Advance payments of escrows
18

61

Deferred loan costs, net
5,560

5,480

Allowance for loan losses
(7,385
)
(8,039
)
Total loans held for investment, net
$
902,685

$
904,919
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 by loan types and risk category at the dates indicated:
 
 
June 30, 2018
(In Thousands)
Single-family
Multi-family
Commercial Real Estate
Construction
Other Mortgage
Commercial Business
Consumer
Total
 
 
 
 
 
 
 
 
 
 
Pass
$
304,619

$
472,061

$
108,786

$
7,476

$
167

$
430

$
109

$
893,648

Special Mention
2,548

3,947

940

—

—

—

—

7,435

Substandard
7,641

—

—

—

—

70

—

7,711

 
Total loans held for
   investment, gross
$
314,808

$
476,008

$
109,726

$
7,476

$
167

$
500

$
109

$
908,794


 
 
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
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
$
126,899

$
28,186

$
89,091

$
58,105

$
12,527

$
314,808

Multi-family
139,424

163,687

161,118

11,559

220

476,008

Commercial real estate
30,771

44,413

33,990

—

552

109,726

Construction
5,793

—

—

—

1,683

7,476

Other
—

—

—

—

167

167

Commercial business loans
84

—

—

—

416

500

Consumer loans
109

—

—

—

—

109

Total loans held for investment, gross
$
303,080

$
236,286

$
284,199

$
69,664

$
15,565

$
908,794
Schedule of Allowance for Loan Losses
The following summarizes the components of the net change in the allowance for loan losses for the periods indicated:
(In Thousands)
Year Ended June 30,
2018
 
2017
 
2016
 
 
 
 
 
 
 
 
Balance, beginning of year
$
8,039

 
$
8,670

 
$
8,724

 
Recovery from the allowance for loan losses
(536
)
 
(1,042
)
 
(1,715
)
 
Recoveries
278

 
613

 
2,069

 
Charge-offs
(396
)
 
(202
)
 
(408
)
 
Balance, end of year
$
7,385

 
$
8,039

 
$
8,670

 
Schedule of Recorded Investment in Non-Performing Loans
 
 
 
At or For the Year Ended June 30, 2018
 
 
 
Unpaid
 
 
 
Net
Average
Interest
 
 
 
Principal
Related
Recorded
 
Recorded
Recorded
Income
(In Thousands)
Balance
Charge-offs
Investment
Allowance(1)
Investment
Investment
Recognized
 
 
 
 
 
 
 
 
 
 
Mortgage loans:
 
 
 
 
 
 
 
 
Single-family:
 
 
 
 
 
 
 
 
 
With a related allowance
$
1,333

$
—

$
1,333

$
(185
)
$
1,148

$
871

$
51

 
 
Without a related allowance(2)
5,569

(724
)
4,845

—

4,845

6,767

203

 
Total single-family
6,902

(724
)
6,178

(185
)
5,993

7,638

254

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

—

—

—

—

17

13

 
Total commercial real estate
—

—

—

—

—

17

13

 
 
 
 
 
 
 
 
 
 
Commercial business loans:
 
 
 
 
 
 
 
 
With a related allowance
70

—

70

(6
)
64

75

5

Total commercial business loans
70

—

70

(6
)
64

75

5

 
 
 
 
 
 
 
 
 
 
Total non-performing loans
$
6,972

$
(724
)
$
6,248

$
(191
)
$
6,057

$
7,730

$
272


(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 or For the Year Ended June 30, 2017
 
 
 
Unpaid
 
 
 
Net
Average
Interest
 
 
 
Principal
Related
Recorded
 
Recorded
Recorded
Income
(In Thousands)
Balance
Charge-offs
Investment
Allowance(1)
Investment
Investment
Recognized
 
 
 
 
 
 
 
 
 
 
Mortgage loans:
 
 
 
 
 
 
 
 
Single-family:
 
 
 
 
 
 
 
 
 
With a related allowance
$
1,821

$
—

$
1,821

$
(325
)
$
1,496

$
1,702

$
82

 
 
Without a related allowance(2)
7,119

(886
)
6,233

—

6,233

7,726

249

 
Total single-family
8,940

(886
)
8,054

(325
)
7,729

9,428

331

 
 
 
 
 
 
 
 
 
 
 
Multi-family:
 
 
 
 
 
 
 
 
 
With a related allowance
—

—

—

—

—

140

21

 
 
Without a related allowance(2)
—

—

—

—

—

312

29

 
Total multi-family
—

—

—

—

—

452

50

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

—

201

—

201

84

2

 
Total commercial real estate
201

—

201

—

201

84

2

 
 
 
 
 
 
 
 
 
 
Commercial business loans:
 
 
 
 
 
 
 
 
With a related allowance
80

—

80

(15
)
65

87

6

Total commercial business loans
80

—

80

(15
)
65

87

6

 
 
 
 
 
 
 
 
 
 
Total non-performing loans
$
9,221

$
(886
)
$
8,335

$
(340
)
$
7,995

$
10,051

$
389


(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 Aging Analysis of Non-Performing Loans
The following tables denote the past due status of the Corporation's loans held for investment, gross, at the dates indicated.
 
 
June 30, 2018
(In Thousands)
Current
30-89 Days Past Due
Non-Accrual(1)
Total Loans Held for Investment, Gross
 
 
 
 
 
 
Mortgage loans:
 
 
 
 
 
Single-family
$
307,863

$
804

$
6,141

$
314,808

 
Multi-family
476,008

—

—

476,008

 
Commercial real estate
109,726

—

—

109,726

 
Construction
7,476

—

—

7,476

 
Other
167

—

—

167

Commercial business loans
430

—

70

500

Consumer loans
108

1

—

109

 
Total loans held for investment, gross
$
901,778

$
805

$
6,211

$
908,794


(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, Gross
 
 
 
 
 
 
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.
Effect of Nonperforming Loans on Interest Income
The effect of the non-performing loans on interest income for the years ended June 30, 2018, 2017 and 2016 is presented below:
(In Thousands)
Year Ended June 30,
2018
 
2017
 
2016
 
 
 
 
 
 
 
 
Contractual interest due
$
400

 
$
517

 
$
724

 
Interest collected
(312
)
 
(449
)
 
(606
)
 
Net foregone interest
$
88

 
$
68

 
$
118

 
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 or charge-offs, by loan type and non-accrual versus accrual status at June 30, 2018 and 2017 :
(In Thousands)
June 30, 2018
June 30, 2017
Restructured loans on non-accrual status:
 
 
Mortgage loans:
 
 
Single-family
$
3,328

$
3,061

Commercial business loans
64

65

Total
3,392

3,126

 
 
 
Restructured loans on accrual status:
 

 

Mortgage loans:
 

 

Single-family
1,788

506

Total
1,788

506

Total restructured loans
$
5,180

$
3,632

The following table shows the restructured loans by type, net of allowance for loan losses or charge-offs, at June 30, 2018 and 2017:
 
 
 
At June 30, 2018
 
 
 
Unpaid
 
 
 
Net
 
 
 
Principal
Related
Recorded
 
Recorded
(In Thousands)
Balance
Charge-offs
Investment
Allowance(1)
Investment
 
 
 
 
 
 
 
 
Mortgage loans:
 
 
 
 
 
 
Single-family:
 
 
 
 
 
 
 
With a related allowance
$
2,228

$
—

$
2,228

$
(151
)
$
2,077

 
 
Without a related allowance(2)
3,450

(411
)
3,039

—

3,039

 
Total single-family
5,678

(411
)
5,267

(151
)
5,116

 
 
 
 
 
 
 
 
Commercial business loans:
 
 
 
 
 
 
With a related allowance
70

—

70

(6
)
64

Total commercial business loans
70

—

70

(6
)
64

 
 
 
 
 
 
 
 
Total restructured loans
$
5,748

$
(411
)
$
5,337

$
(157
)
$
5,180
Schedule of Recorded Investment in Restructured Loans [Table Text Block]
The following table shows the restructured loans by type, net of allowance for loan losses or charge-offs, at June 30, 2018 and 2017:
 
 
 
At June 30, 2018
 
 
 
Unpaid
 
 
 
Net
 
 
 
Principal
Related
Recorded
 
Recorded
(In Thousands)
Balance
Charge-offs
Investment
Allowance(1)
Investment
 
 
 
 
 
 
 
 
Mortgage loans:
 
 
 
 
 
 
Single-family:
 
 
 
 
 
 
 
With a related allowance
$
2,228

$
—

$
2,228

$
(151
)
$
2,077

 
 
Without a related allowance(2)
3,450

(411
)
3,039

—

3,039

 
Total single-family
5,678

(411
)
5,267

(151
)
5,116

 
 
 
 
 
 
 
 
Commercial business loans:
 
 
 
 
 
 
With a related allowance
70

—

70

(6
)
64

Total commercial business loans
70

—

70

(6
)
64

 
 
 
 
 
 
 
 
Total restructured loans
$
5,748

$
(411
)
$
5,337

$
(157
)
$
5,180


,
(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.
Summary of Related Party Loan Activity
The following is a summary of related-party loan activity:
(In Thousands)
Year Ended June 30,
2018
 
2017
 
2016
 
 
 
 
 
 
 
 
Balance, beginning of year
$
578

 
$
1,861

 
$
2,367

 
Originations
2,415

 
3,844

 
3,500

 
Sales and payments
(2,316
)
 
(5,127
)
 
(4,006
)
 
Balance, end of year
$
677

 
$
578

 
$
1,861