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Loans Held For Investment (Tables)
 9 Months Ended
Mar. 31, 2018
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 at the dates indicated:
(In Thousands)
March 31, 2018
June 30, 2017
Mortgage loans:
 
 
Single-family
$
316,912

$
322,197

Multi-family
466,266

479,959

Commercial real estate
106,937

97,562

Construction
10,915

16,009

Commercial business loans
450

576

Consumer loans
130

129

Total loans held for investment, gross
901,610

916,432

 
 
 
Undisbursed loan funds
(5,591
)
(9,015
)
Advance payments of escrows
160

61

Deferred loan costs, net
5,519

5,480

Allowance for loan losses
(7,531
)
(8,039
)
Total loans held for investment, net
$
894,167

$
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
$
140,839

$
30,990

$
74,783

$
57,090

$
13,210

$
316,912

Multi-family
130,608

166,749

157,761

10,914

234

466,266

Commercial real estate
29,657

40,992

35,740

—

548

106,937

Construction
9,011

—

—

—

1,904

10,915

Commercial business loans
26

—

—

—

424

450

Consumer loans
130

—

—

—

—

130

Total loans held for investment, gross
$
310,271

$
238,731

$
268,284

$
68,004

$
16,320

$
901,610

  
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, 2018
(In Thousands)
Single-family
Multi-family
Commercial Real Estate
Construction
Commercial Business
Consumer
Total
Allowance for loan losses:
 
 
 
 
 
 
 
Allowance at beginning of period
$
3,303

$
3,295

$
933

$
504

$
32

$
8

$
8,075

(Recovery) provision for loan losses
(143
)
17

33

(410
)
(1
)
(1
)
(505
)
Recoveries
71

—

—

—

—

—

71

Charge-offs
(110
)
—

—

—

—

—

(110
)
 
Allowance for loan losses,
  end of period
$
3,121

$
3,312

$
966

$
94

$
31

$
7

$
7,531

 
 
 
 
 
 
 
 
 
Allowance for loan losses:
 
 
 
 
 
 
 
Individually evaluated for impairment
$
161

$
—

$
—

$
—

$
15

$
—

$
176

Collectively evaluated for impairment
2,960

3,312

966

94

16

7

7,355

 
Allowance for loan losses,
  end of period
$
3,121

$
3,312

$
966

$
94

$
31

$
7

$
7,531

 
 
 
 
 
 
 
 
 
Loans held for investment:
 
 
 
 
 
 
 
Individually evaluated for impairment
$
7,929

$
—

$
—

$
—

$
73

$
—

$
8,002

Collectively evaluated for impairment
308,983

466,266

106,937

10,915

377

130

893,608

 
Total loans held for investment,
  gross
$
316,912

$
466,266

$
106,937

$
10,915

$
450

$
130

$
901,610

Allowance for loan losses as
  a percentage of gross loans
  held for investment
0.98
%
0.71
%
0.90
%
0.86
%
6.89
%
5.38
%
0.84
%

 
 
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
%
 
 
Nine Months Ended March 31, 2018
(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

(Recovery) provision for loan losses
(319
)
(108
)
87

(2
)
(5
)
—

(347
)
Recoveries
203

—

—

—

—

—

203

Charge-offs
(364
)
—

—

—

—

—

(364
)
 
Allowance for loan losses,
  end of period
$
3,121

$
3,312

$
966

$
94

$
31

$
7

$
7,531

 
 
 
 
 
 
 
 
 
Allowance for loan losses:
 
 
 
 
 
 
 
Individually evaluated for impairment
$
161

$
—

$
—

$
—

$
15

$
—

$
176

Collectively evaluated for impairment
2,960

3,312

966

94

16

7

7,355

 
Allowance for loan losses,
  end of period
$
3,121

$
3,312

$
966

$
94

$
31

$
7

$
7,531

 
 
 
 
 
 
 
 
 
Loans held for investment:
 
 
 
 
 
 
 
Individually evaluated for impairment
$
7,929

$
—

$
—

$
—

$
73

$
—

$
8,002

Collectively evaluated for impairment
308,983

466,266

106,937

10,915

377

130

893,608

 
Total loans held for investment, gross
$
316,912

$
466,266

$
106,937

$
10,915

$
450

$
130

$
901,610

Allowance for loan losses as
  a percentage of gross loans
  held for investment
0.98
%
0.71
%
0.90
%
0.86
%
6.89
%
5.38
%
0.84
%

 
 
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
%
  
Schedule of Allowance for Loan Losses
The following table summarizes the Corporation’s allowance for loan losses at March 31, 2018 and June 30, 2017:
(In Thousands)
March 31, 2018
June 30, 2017
Collectively evaluated for impairment:
 
 
Mortgage loans:
 
 
Single-family
$
2,960

$
3,515

Multi-family
3,312

3,420

Commercial real estate
966

879

Construction
94

96

Commercial business loans
16

21

Consumer loans
7

7

Total collectively evaluated allowance
7,355

7,938

 
 
 
Individually evaluated for impairment:
 
 
Mortgage loans:
 
 
Single-family
161

86

Commercial business loans
15

15

Total individually evaluated allowance
176

101

Total loan loss allowance
$
7,531

$
8,039


The following table is provided to disclose additional details on the Corporation’s allowance for loan losses for the quarters and nine months ended March 31, 2018 and 2017, respectively:
 
For the Quarters Ended
March 31,
For the Nine Months Ended
March 31,
(Dollars in Thousands)
2018
2017
2018
2017
 
 
 
 
 
Allowance at beginning of period
$
8,075

$
8,391

$
8,039

$
8,670

 
 
 
 
 
Recovery from the allowance for loan losses
(505
)
(165
)
(347
)
(665
)
 
 
 
 
 
Recoveries:
 

 

 

 

Mortgage loans:
 

 

 

 

Single-family
71

83

203

379

Multi-family
—

3

—

16

Commercial business loans
—

75

—

75

Consumer loans
—

1

—

2

Total recoveries
71

162

203

472

 
 
 
 
 
Charge-offs:
 

 

 

 

Mortgage loans:
 

 

 

 

Single-family
(110
)
(112
)
(364
)
(199
)
Consumer loans
—

(1
)
—

(3
)
Total charge-offs
(110
)
(113
)
(364
)
(202
)
 
 
 
 
 
Net (charge-offs) recoveries
(39
)
49

(161
)
270

Balance at end of period
$
7,531

$
8,275

$
7,531

$
8,275

 
 

 

 

 

Allowance for loan losses as a percentage of gross loans held for investment at the end of the period
0.84
%
0.93
 %
0.84
%
0.93
 %
Net charge-offs (recoveries) as a percentage of average loans receivable, net, during the period (annualized)
0.02
%
(0.02
)%
0.02
%
(0.03
)%
  
Schedule of Recorded Investment in Non-Performing Loans
 
 
 
At March 31, 2018
 
 
 
Unpaid
 
 
 
Net
 
 
 
Principal
Related
Recorded
 
Recorded
(In Thousands)
Balance
Charge-offs
Investment
Allowance(1)
Investment
 
 
 
 
 
 
 
 
Mortgage loans:
 
 
 
 
 
 
Single-family:
 
 
 
 
 
 
 
With a related allowance
$
1,166

$
—

$
1,166

$
(152
)
$
1,014

 
 
Without a related allowance(2)
6,467

(773
)
5,694

—

5,694

 
Total single-family
7,633

(773
)
6,860

(152
)
6,708

 
 
 
 
 
 
 
 
Commercial business loans:
 
 
 
 
 
 
With a related allowance
73

—

73

(15
)
58

Total commercial business loans
73

—

73

(15
)
58

 
 
 
 
 
 
 
 
Total non-performing loans
$
7,706

$
(773
)
$
6,933

$
(167
)
$
6,766


(1) Consists of collectively and individually evaluated allowances, specifically assigned to the individual loan, and fair value 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, and fair value
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.
  
Schedule of Average Recorded Investment in Non-Performing Loans and Related Interest Income [Table Text Block]
The following tables present the average recorded investment in non-performing loans and the related interest income recognized for the quarters and nine months ended March 31, 2018 and 2017:
 
 
 
Quarter Ended March 31,
 
 
 
2018
 
2017
 
 
 
Average
Interest
 
Average
Interest
 
 
 
Recorded
Income
 
Recorded
Income
(In Thousands)
Investment
Recognized
 
Investment
Recognized
 
 
 
 
 
 
 
 
Without related allowances:
 
 
 
 
 
 
Mortgage loans:
 
 
 
 
 
 
 
Single-family
$
6,397

$
49

 
$
7,325

$
115

 
 
Multi-family
—

—

 
373

4

 
 
Commercial real estate
—

—

 
134

1

 
 
 
6,397

49

 
7,832

120

 
 
 
 
 
 
 
 
With related allowances:
 
 
 
 
 
 
Mortgage loans:
 
 
 
 
 
 
 
Single-family
1,170

20

 
1,398

10

 
Commercial business loans
74

1

 
84

2

 
 
1,244

21

 
1,482

12

 
 
 
 
 
 
 
 
Total
$
7,641

$
70

 
$
9,314

$
132


 
 
 
Nine Months Ended March 31,
 
 
 
2018
 
2017
 
 
 
Average
Interest
 
Average
Interest
 
 
 
Recorded
Income
 
Recorded
Income
 
 
 
Investment
Recognized
 
Investment
Recognized
 
 
 
 
 
 
 
 
Without related allowances:
 
 
 
 
 
 
Mortgage loans:
 
 
 
 
 
 
 
Single-family
$
7,296

$
184

 
$
8,480

$
152

 
 
Multi-family
—

—

 
406

4

 
 
Commercial real estate
22

13

 
45

1

 
 
 
7,318

197

 
8,931

157

 
 
 
 
 
 
 
 
With related allowances:
 
 
 
 
 
 
Mortgage loans:
 
 
 
 
 
 
 
Single-family
738

39

 
1,287

56

 
 
Multi-family
—

—

 
156

17

 
Commercial business loans
76

4

 
88

5

 
 
814

43

 
1,531

78

 
 
 
 
 
 
 
 
Total
$
8,132

$
240

 
$
10,462

$
235

  
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, 2018
(In Thousands)
Current
30-89 Days Past Due
Non-Accrual (1)
Total Loans Held for Investment
 
 
 
 
 
 
Mortgage loans:
 
 
 
 
 
Single-family
$
309,932

$
157

$
6,823

$
316,912

 
Multi-family
466,266

—

—

466,266

 
Commercial real estate
106,937

—

—

106,937

 
Construction
10,915

—

—

10,915

Commercial business loans
377

—

73

450

Consumer loans
127

3

—

130

 
Total loans held for investment, gross
$
894,554

$
160

$
6,896

$
901,610



(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)
March 31, 2018
June 30, 2017
Restructured loans on non-accrual status:
 
 
Mortgage loans:
 
 
Single-family
$
3,092

$
3,061

Commercial business loans
58

65

Total
3,150

3,126

 
 
 
Restructured loans on accrual status:
 

 

Mortgage loans:
 

 

Single-family
2,202

506

Total
2,202

506

 
 
 
Total restructured loans
$
5,352

$
3,632

 85000
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, 2018
 
 
 
Unpaid
 
 
 
Net
 
 
 
Principal
Related
Recorded
 
Recorded
(In Thousands)
Balance
Charge-offs
Investment
Allowance(1)
Investment
 
 
 
 
 
 
 
 
Mortgage loans:
 
 
 
 
 
 
Single-family:
 
 
 
 
 
 
 
With a related allowance
$
2,235

$
—

$
2,235

$
(161
)
$
2,074

 
 
Without a related allowance(2)
$
3,610

$
(390
)
$
3,220

$
—

$
3,220

 
Total single-family
5,845

(390
)
5,455

(161
)
5,294

 
 
 
 
 
 
 
 
Commercial business loans:
 
 
 
 
 
 
With a related allowance
73

—

73

(15
)
58

Total commercial business loans
73

—

73

(15
)
58

 
 
 
 
 
 
 
 
Total restructured loans
$
5,918

$
(390
)
$
5,528

$
(176
)
$
5,352


(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:
 
 
March 31, 2018
(In Thousands)
Single-family
Multi-family
Commercial Real Estate
Construction
Commercial Business
Consumer
Total
 
 
 
 
 
 
 
 
 
Pass
$
306,519

$
466,266

$
106,937

$
9,989

$
377

$
130

$
890,218

Special Mention
1,913

—

—

926

—

—

2,839

Substandard
8,480

—

—

—

73

—

8,553

 
Total loans held for
   investment, gross
$
316,912

$
466,266

$
106,937

$
10,915

$
450

$
130

$
901,610


 
 
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