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Loans Held for Investment (Tables) | 12 Months Ended
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Jun. 30, 2020
Loans Held for Investment |
Schedule of loans held for investment | Loans held for investment consisted of the following at June 30, 2020 and 2019 :
(In Thousands) |  | June 30, 2020 |  | June 30, 2019
Mortgage loans: |  |  |  |  |  |
Single-family |  | $ | 298,810 |  | $ | 324,952
Multi-family |  |  | 491,903 |  |  | 439,041
Commercial real estate |  |  | 105,235 |  |  | 111,928
Construction |  |  | 7,801 |  |  | 4,638
Other |  |  | 143 |  |  | 167
Commercial business loans |  |  | 480 |  |  | 478
Consumer loans |  |  | 94 |  |  | 134
Total loans held for investment, gross |  |  | 904,466 |  |  | 881,338
Advance payments of escrows |  |  | 68 |  |  | 53
Deferred loan costs, net |  |  | 6,527 |  |  | 5,610
Allowance for loan losses |  |  | (8,265) |  |  | (7,076)
Total loans held for investment, net |  | $ | 902,796 |  | $ | 879,925
Schedule of loans held for investment, contractual repricing |
|  | Adjustable Rate |  |  |  |  |  |
|  |  |  |  | After |  | After |  | After |  |  |  |  |  |
|  |  |  |  | One Year |  | 3 Years |  | 5 Years |  |  |  |  |  |
(In Thousands) |  | Within One Year |  | Through 3 Years |  | Through 5 Years |  | Through 10 Years |  | Fixed Rate |  | Total
Mortgage loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Single-family |  | $ | 80,167 |  | $ | 54,690 |  | $ | 89,820 |  | $ | 65,902 |  | $ | 8,231 |  | $ | 298,810
Multi-family |  |  | 161,881 |  |  | 156,014 |  |  | 157,783 |  |  | 16,069 |  |  | 156 |  |  | 491,903
Commercial real estate |  |  | 48,343 |  |  | 27,542 |  |  | 29,010 |  |  | — |  |  | 340 |  |  | 105,235
Construction |  |  | 6,041 |  |  | — |  |  | — |  |  | — |  |  | 1,760 |  |  | 7,801
Other |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 143 |  |  | 143
Commercial business loans |  |  | 85 |  |  | — |  |  | — |  |  | — |  |  | 395 |  |  | 480
Consumer loans |  |  | 94 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 94
Total loans held for investment, gross |  | $ | 296,611 |  | $ | 238,246 |  | $ | 276,613 |  | $ | 81,971 |  | $ | 11,025 |  | $ | 904,466
Schedule of gross loans held for investment by loan types and risk category | The following tables summarize gross loans held for investment by loan types and risk category at the dates indicated:
|  | June 30, 2020
|  |  |  |  |  |  |  | Commercial |  |  |  |  |  |  |  | Commercial |  |  |  |  |
(In Thousands) |  | Single-family |  | Multi-family |  | Real Estate |  | Construction |  | Other Mortgage |  | Business |  | Consumer |  | Total
Pass |  | $ | 289,942 |  | $ | 488,126 |  | $ | 105,235 |  | $ | 6,098 |  | $ | 143 |  | $ | 445 |  | $ | 94 |  | $ | 890,083
Special Mention |  |  | 3,120 |  |  | 3,777 |  |  | — |  |  | 1,703 |  |  | — |  |  | — |  |  | — |  |  | 8,600
Substandard |  |  | 5,748 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 35 |  |  | — |  |  | 5,783
Total loans held for investment, gross |  | $ | 298,810 |  | $ | 491,903 |  | $ | 105,235 |  | $ | 7,801 |  | $ | 143 |  | $ | 480 |  | $ | 94 |  | $ | 904,466
|  | June 30, 2019
|  |  |  |  |  |  |  | Commercial |  |  |  |  |  | Other |  | Commercial |  |  |  |  |  |
(In Thousands) |  | Single-family |  | Multi-family |  | Real Estate |  | Construction |  |  | Mortgage |  | Business |  | Consumer |  | Total
Pass |  | $ | 314,036 |  | $ | 435,177 |  | $ | 111,001 |  | $ | 3,667 |  | $ | 167 |  | $ | 429 |  | $ | 134 |  | $ | 864,611
Special Mention |  |  | 3,795 |  |  | 3,864 |  |  | 927 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 8,586
Substandard |  |  | 7,121 |  |  | — |  |  | — |  |  | 971 |  |  | — |  |  | 49 |  |  | — |  |  | 8,141
Total loans held for investment, gross |  | $ | 324,952 |  | $ | 439,041 |  | $ | 111,928 |  | $ | 4,638 |  | $ | 167 |  | $ | 478 |  | $ | 134 |  | $ | 881,338
Schedule of allowance for loan losses and recorded investment | 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, 2020 |
|  |  |  |  |  |  |  | Commercial |  |  |  |  |  |  |  | Commercial |  |  |  |  |  |  |
(In Thousands) |  | Single-family |  | Multi-family |  | Real Estate |  | Construction |  | Other Mortgage |  | Business |  | Consumer |  | Total |
Allowance at beginning of period |  | $ | 2,709 |  | $ | 3,219 |  | $ | 1,050 |  | $ | 61 |  | $ | 3 |  | $ | 26 |  | $ | 8 |  | $ | 7,076 |
Provision (recovery) for loan losses |  |  | (156) |  |  | 1,110 |  |  | 60 |  |  | 110 |  |  | — |  |  | (2) |  |  | (3) |  |  | 1,119 |
Recoveries |  |  | 70 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 2 |  |  | 72 |
Charge-offs |  |  | (1) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (1) |  |  | (2) |
Allowance for loan losses, end of period |  | $ | 2,622 |  | $ | 4,329 |  | $ | 1,110 |  | $ | 171 |  | $ | 3 |  | $ | 24 |  | $ | 6 |  | $ | 8,265 |
Allowance: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment |  | $ | 96 |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 4 |  | $ | — |  | $ | 100 |
Collectively evaluated for impairment |  |  | 2,526 |  |  | 4,329 |  |  | 1,110 |  |  | 171 |  |  | 3 |  |  | 20 |  |  | 6 |  |  | 8,165 |
Allowance for loan losses, end of period |  | $ | 2,622 |  | $ | 4,329 |  | $ | 1,110 |  | $ | 171 |  | $ | 3 |  | $ | 24 |  | $ | 6 |  | $ | 8,265 |
Gross Loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment |  | $ | 3,371 |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 35 |  | $ | — |  | $ | 3,406 |
Collectively evaluated for impairment |  |  | 295,439 |  |  | 491,903 |  |  | 105,235 |  |  | 7,801 |  |  | 143 |  |  | 445 |  |  | 94 |  |  | 901,060 |
Total loans held for investment, gross |  | $ | 298,810 |  | $ | 491,903 |  | $ | 105,235 |  | $ | 7,801 |  | $ | 143 |  | $ | 480 |  | $ | 94 |  | $ | 904,466 |
Allowance for loan losses as a percentage of gross loans held for investment |  |  | 0.88 | % |  | 0.88 | % |  | 1.05 | % |  | 2.19 | % |  | 2.10 | % |  | 5.00 | % |  | 6.38 | % |  | 0.91 | %
|  | Year Ended June 30, 2019 |
|  |  |  |  |  |  |  | Commercial |  |  |  |  |  |  |  | Commercial |  |  |  |  |  |  |
(In Thousands) |  | Single-family |  | Multi-family |  | Real Estate |  | Construction |  | Other Mortgage |  | Business |  | Consumer |  | Total |
Allowance at beginning of period |  | $ | 2,783 |  | $ | 3,492 |  | $ | 1,030 |  | $ | 47 |  | $ | 3 |  | $ | 24 |  | $ | 6 |  | $ | 7,385 |
Provision (recovery)for loan losses |  |  | (241) |  |  | (273) |  |  | 20 |  |  | 14 |  |  | — |  |  | — |  |  | 5 |  |  | (475) |
Recoveries |  |  | 198 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 2 |  |  | — |  |  | 200 |
Charge-offs |  |  | (31) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (3) |  |  | (34) |
Allowance for loan losses, end of period |  | $ | 2,709 |  | $ | 3,219 |  | $ | 1,050 |  | $ | 61 |  | $ | 3 |  | $ | 26 |  | $ | 8 |  | $ | 7,076 |
Allowance: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment |  | $ | 122 |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 8 |  | $ | — |  | $ | 130 |
Collectively evaluated for impairment |  |  | 2,587 |  |  | 3,219 |  |  | 1,050 |  |  | 61 |  |  | 3 |  |  | 18 |  |  | 8 |  |  | 6,946 |
Allowance for loan losses, end of period |  | $ | 2,709 |  | $ | 3,219 |  | $ | 1,050 |  | $ | 61 |  | $ | 3 |  | $ | 26 |  | $ | 8 |  | $ | 7,076 |
Gross Loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment |  | $ | 5,199 |  | $ | — |  | $ | — |  | $ | 971 |  | $ | — |  | $ | 49 |  | $ | — |  | $ | 6,219 |
Collectively evaluated for impairment |  |  | 319,753 |  |  | 439,041 |  |  | 111,928 |  |  | 3,667 |  |  | 167 |  |  | 429 |  |  | 134 |  |  | 875,119 |
Total loans held for investment, gross |  | $ | 324,952 |  | $ | 439,041 |  | $ | 111,928 |  | $ | 4,638 |  | $ | 167 |  | $ | 478 |  | $ | 134 |  | $ | 881,338 |
Allowance for loan losses as a percentage of gross loans held for investment |  |  | 0.83 | % |  | 0.73 | % |  | 0.94 | % |  | 1.32 | % |  | 1.80 | % |  | 5.44 | % |  | 5.97 | % |  | 0.80 | %
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:
|  | Year Ended June 30,
(In Thousands) |  | 2020 |  | 2019
Balance, beginning of year |  | $ | 7,076 |  | $ | 7,385
Provision (recovery) for loan losses |  |  | 1,119 |  |  | (475)
Recoveries |  |  | 72 |  |  | 200
Charge-offs |  |  | (2) |  |  | (34)
Balance, end of year |  | $ | 8,265 |  | $ | 7,076
Schedule of recorded investment in non-performing loans |
|  | At or For the Year Ended June 30, 2020
|  | 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 |  | $ | 3,289 |  | $ | — |  | $ | 3,289 |  | $ | (438) |  | $ | 2,851 |  | $ | 1,541 |  | $ | 60
Without a related allowance(2) |  |  | 2,509 |  |  | (467) |  |  | 2,042 |  |  | — |  |  | 2,042 |  |  | 2,572 |  |  | 119
Total single-family loans |  |  | 5,798 |  |  | (467) |  |  | 5,331 |  |  | (438) |  |  | 4,893 |  |  | 4,113 |  |  | 179
Construction: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Without a related allowance(2) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 271 |  |  | 20
Total construction loans |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 271 |  |  | 20
Commercial business loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
With a related allowance |  |  | 35 |  |  | — |  |  | 35 |  |  | (4) |  |  | 31 |  |  | 42 |  |  | 4
Total commercial business loans |  |  | 35 |  |  | — |  |  | 35 |  |  | (4) |  |  | 31 |  |  | 42 |  |  | 4
Total non-performing loans |  | $ | 5,833 |  | $ | (467) |  | $ | 5,366 |  | $ | (442) |  | $ | 4,924 |  | $ | 4,426 |  | $ | 203
| (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, 2019
|  | Unpaid |  | Related |  |  |  |  |  | Net |  | Average |  | Interest
|  | Principal |  | Charge-offs |  | Recorded |  |  |  | Recorded |  | Recorded |  | Income
(In Thousands) |  | Balance |  | Related |  | Investment |  | Allowance (1) |  | Investment |  | Investment |  | Recognized
Mortgage loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Single-family: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
With a related allowance |  | $ | 2,640 |  | $ | — |  | $ | 2,640 |  | $ | (434) |  | $ | 2,206 |  | $ | 1,583 |  | $ | 110
Without a related allowance(2) |  |  | 3,518 |  |  | (518) |  |  | 3,000 |  |  | — |  |  | 3,000 |  |  | 4,301 |  |  | 293
Total single-family loans |  |  | 6,158 |  |  | (518) |  |  | 5,640 |  |  | (434) |  |  | 5,206 |  |  | 5,884 |  |  | 403
Construction: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Without a related allowance(2) |  |  | 971 |  |  | — |  |  | 971 |  |  | — |  |  | 971 |  |  | 664 |  |  | —
Total construction loans |  |  | 971 |  |  | — |  |  | 971 |  |  | — |  |  | 971 |  |  | 664 |  |  | —
Commercial business loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
With a related allowance |  |  | 49 |  |  | — |  |  | 49 |  |  | (8) |  |  | 41 |  |  | 58 |  |  | 5
Total commercial business loans |  |  | 49 |  |  | — |  |  | 49 |  |  | (8) |  |  | 41 |  |  | 58 |  |  | 5
Total non-performing loans |  | $ | 7,178 |  | $ | (518) |  | $ | 6,660 |  | $ | (442) |  | $ | 6,218 |  | $ | 6,606 |  | $ | 408
| (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 loan forbearance related to COVID-19 hardship requests | As of June 30, 2020, loan forbearance related to COVID-19 hardship requests are described below:
|  | Forbearance Granted |  | Forbearance Completed |  | Forbearance Remaining
|  | Number of |  |  |  | Number of |  |  |  | Number of |  |
(Dollars In Thousands) |  | Loans |  | Amount |  | Loans |  | Amount |  | Loans |  | Amount
Single-family loans |  | 52 |  | $ | 21,470 |  | 4 |  | $ | 1,579 |  | 48 |  | $ | 19,891
Multi-family loans |  | 3 |  |  | 1,592 |  | — |  |  | — |  | 3 |  |  | 1,592
Commercial real estate loans |  | 2 |  |  | 1,071 |  | — |  |  | — |  | 2 |  |  | 1,071
Total loan forbearance |  | 57 |  | $ | 24,133 |  | 4 |  | $ | 1,579 |  | 53 |  | $ | 22,554
As of June 30, 2020, loan forbearance outstanding balances are described below:
|  |  |  |  |  |  |  |  |  |  |  |  | Weighted |  | Weighted Avg.
|  |  |  |  |  |  | % of |  |  |  | Weighted |  | Avg. Debt |  | Forbearance
|  | Number |  |  |  |  | Total |  | Weighted |  | Avg. |  | Coverage |  | Period
(Dollars In Thousands) |  | of Loans |  | Amount |  | Loans |  | Avg. LTV(1) |  | FICO(2) |  | Ratio(3) |  | Granted(4)
Single-family loans |  | 48 |  | $ | 19,891 |  | 2.20 | % | 64 | % | 727 |  | N/A |  | 6.0
Multi-family loans |  | 3 |  |  | 1,592 |  | 0.17 | % | 41 | % | 719 |  | 1.65x |  | 3.3
Commercial real estate loans(5) |  | 2 |  |  | 1,071 |  | 0.12 | % | 31 | % | 755 |  | 1.36x |  | 3.5
Total loans in forbearance |  | 53 |  | $ | 22,554 |  | 2.49 | % | 61 | % | 727 |  | 1.53x |  | 5.7
| (1) |  | Current loan balance in comparison to the original appraised value.
| (2) |  | At time of loan origination, borrowers and/or guarantors.
| (3) |  | At time of loan origination.
| (4) |  | In months.
| (5) |  | Comprised of $579 thousand in Office and $493 thousand in Mixed Used – Office/Single-Family Residential.
Schedule of past due status of gross loans held for investment, net of fair value adjustments | The following tables denote the past due status of the Corporation’s loans held for investment, gross, at the dates indicated.
|  | June 30, 2020
|  |  |  |  | 30-89 Days Past |  |  |  |  | Total Loans Held for
(In Thousands) |  | Current |  | Due |  | Non-Accrual (1) |  | Investment, Gross
Mortgage loans: |  |  |  |  |  |  |  |  |  |  |  |
Single-family |  | $ | 293,326 |  | $ | 219 |  | $ | 5,265 |  | $ | 298,810
Multi-family |  |  | 491,903 |  |  | — |  |  | — |  |  | 491,903
Commercial real estate |  |  | 105,235 |  |  | — |  |  | — |  |  | 105,235
Construction |  |  | 7,801 |  |  | — |  |  | — |  |  | 7,801
Other |  |  | 143 |  |  | — |  |  | — |  |  | 143
Commercial business loans |  |  | 445 |  |  | — |  |  | 35 |  |  | 480
Consumer loans |  |  | 94 |  |  | — |  |  | — |  |  | 94
Total loans held for investment, gross |  | $ | 898,947 |  | $ | 219 |  | $ | 5,300 |  | $ | 904,466
| (1) |  | All loans 90 days or greater past due are placed on non-accrual status.
|  | June 30, 2019
|  |  |  |  | 30-89 Days Past |  |  |  |  | Total Loans Held for
(In Thousands) |  | Current |  | Due |  | Non-Accrual (1) |  | Investment, Gross
Mortgage loans: |  |  |  |  |  |  |  |  |  |  |  |
Single-family |  | $ | 318,671 |  | $ | 660 |  | $ | 5,621 |  | $ | 324,952
Multi-family |  |  | 439,041 |  |  | — |  |  | — |  |  | 439,041
Commercial real estate |  |  | 111,928 |  |  | — |  |  | — |  |  | 111,928
Construction |  |  | 3,667 |  |  | — |  |  | 971 |  |  | 4,638
Other |  |  | 167 |  |  | — |  |  | — |  |  | 167
Commercial business loans |  |  | 429 |  |  | — |  |  | 49 |  |  | 478
Consumer loans |  |  | 129 |  |  | 5 |  |  | — |  |  | 134
Total loans held for investment, gross |  | $ | 874,032 |  | $ | 665 |  | $ | 6,641 |  | $ | 881,338
| (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 or charge-offs, by loan type and non-accrual versus accrual status at June 30, 2020 and 2019 :
|  | At June 30,
(In Thousands) |  | 2020 |  | 2019
Restructured loans on non-accrual status: |  |  |  |  |  |
Mortgage loans: |  |  |  |  |  |
Single-family |  | $ | 2,612 |  | $ | 1,891
Commercial business loans |  |  | 31 |  |  | 41
Total |  |  | 2,643 |  |  | 1,932
Restructured loans on accrual status: |  |  |  |  |  |
Mortgage loans: |  |  |  |  |  |
Single-family |  |  | — |  |  | 1,861
Total |  |  | — |  |  | 1,861
Total restructured loans |  | $ | 2,643 |  | $ | 3,793
Schedule of recorded investment in restructured loans | The following tables show the restructured loans by type, net of allowance for loan losses or charge-offs, at June 30, 2020 and 2019 :
|  | At June 30, 2020
|  | Unpaid |  |  |  |  |  |  |  |  |  |  | Net
|  | Principal |  | Related |  | Recorded |  |  |  |  | Recorded
(In Thousands) |  | Balance |  | Charge-offs |  | Investment |  | Allowance (1) |  | Investment
Mortgage loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Single-family: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
With a related allowance |  | $ | 1,650 |  | $ | — |  | $ | 1,650 |  | $ | (108) |  | $ | 1,542
Without a related allowance(2) |  |  | 1,435 |  |  | (365) |  |  | 1,070 |  |  | — |  |  | 1,070
Total single-family |  |  | 3,085 |  |  | (365) |  |  | 2,720 |  |  | (108) |  |  | 2,612
Commercial business loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
With a related allowance |  |  | 35 |  |  | — |  |  | 35 |  |  | (4) |  |  | 31
Total commercial business loans |  |  | 35 |  |  | — |  |  | 35 |  |  | (4) |  |  | 31
Total restructured loans |  | $ | 3,120 |  | $ | (365) |  | $ | 2,755 |  | $ | (112) |  | $ | 2,643
| (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, 2019
|  | Unpaid |  |  |  |  |  |  |  |  |  |  | Net
|  | Principal |  | Related |  | Recorded |  |  |  |  | Recorded
(In Thousands) |  | Balance |  | Charge-offs |  | Investment |  | Allowance (1) |  | Investment
Mortgage loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Single-family: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
With a related allowance |  | $ | 2,199 |  | $ | — |  | $ | 2,199 |  | $ | (122) |  | $ | 2,077
Without a related allowance(2) |  |  | 2,040 |  |  | (365) |  |  | 1,675 |  |  | — |  |  | 1,675
Total single-family |  |  | 4,239 |  |  | (365) |  |  | 3,874 |  |  | (122) |  |  | 3,752
Commercial business loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
With a related allowance |  |  | 49 |  |  | — |  |  | 49 |  |  | (8) |  |  | 41
Total commercial business loans |  |  | 49 |  |  | — |  |  | 49 |  |  | (8) |  |  | 41
Total restructured loans |  | $ | 4,288 |  | $ | (365) |  | $ | 3,923 |  | $ | (130) |  | $ | 3,793
| (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:
|  | Year Ended June 30,
(In Thousands) |  | 2020 |  | 2019
Balance, beginning of year |  | $ | 2 |  | $ | 677
Originations |  |  | — |  |  | —
Sales and payments |  |  | (1) |  |  | (675)
Balance, end of year |  | $ | 1 |  | $ | 2

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