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Loans Held for Investment (Tables) | 6 Months Ended
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Dec. 31, 2020
Loans Held for Investment |
Schedule of loans held for investment |
|  | December 31, |  | June 30,
(In Thousands) |  | 2020 |  | 2020
Mortgage loans: |  |  |  |  |  |
Single-family |  | $ | 257,864 |  | $ | 298,810
Multi-family |  |  | 488,412 |  |  | 491,903
Commercial real estate |  |  | 102,551 |  |  | 105,235
Construction (1) |  |  | 7,135 |  |  | 7,801
Other |  |  | 141 |  |  | 143
Commercial business loans (2) |  |  | 882 |  |  | 480
Consumer loans (3) |  |  | 95 |  |  | 94
Total loans held for investment, gross |  |  | 857,080 |  |  | 904,466
Advance payments of escrows |  |  | 142 |  |  | 68
Deferred loan costs, net |  |  | 6,402 |  |  | 6,527
Allowance for loan losses |  |  | (8,538) |  |  | (8,265)
Total loans held for investment, net |  | $ | 855,086 |  | $ | 902,796
| (1) |  | Net of $2.7 million and $4.0 million of undisbursed loan funds as of December 31, 2020 and June 30, 2020, respectively.
| (2) |  | Net of $520 thousand and $935 thousand of undisbursed lines of credit as of December 31, 2020 and June 30, 2020, respectively.
| (3) |  | Net of $422 thousand and $448 thousand of undisbursed lines of credit as of December 31, 2020 and June 30, 2020, respectively.
Schedule of loans held for investment, contractual repricing |
|  | Adjustable Rate |  |  |  |  |  |
|  |  |  |  | After |  | After |  | After |  |  |  |  |  |
|  |  |  |  | One Year |  | 3 Years |  | 5 Years |  |  |  |  |  |
|  | Within One |  | Through 3 |  | Through 5 |  | Through 10 |  |  |  |  |  |
(In Thousands) |  | Year |  | Years |  | Years |  | Years |  | Fixed Rate |  | Total
Mortgage loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Single-family |  | $ | 69,861 |  | $ | 51,462 |  | $ | 62,242 |  | $ | 64,482 |  | $ | 9,817 |  | $ | 257,864
Multi-family |  |  | 162,764 |  |  | 154,224 |  |  | 153,475 |  |  | 17,810 |  |  | 139 |  |  | 488,412
Commercial real estate |  |  | 48,239 |  |  | 30,205 |  |  | 23,822 |  |  | — |  |  | 285 |  |  | 102,551
Construction |  |  | 6,477 |  |  | — |  |  | — |  |  | — |  |  | 658 |  |  | 7,135
Other |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 141 |  |  | 141
Commercial business loans |  |  | 500 |  |  | — |  |  | — |  |  | — |  |  | 382 |  |  | 882
Consumer loans |  |  | 95 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 95
Total loans held for investment, gross |  | $ | 287,936 |  | $ | 235,891 |  | $ | 239,539 |  | $ | 82,292 |  | $ | 11,422 |  | $ | 857,080
Schedule of gross loans held for investment by loan types and risk category |
|  | December 31, 2020
|  | Single- |  | Multi- |  | Commercial |  |  |  |  | Other |  | Commercial |  |  |  |  |  |
(In Thousands) |  | family |  | family |  | Real Estate |  | Construction |  | Mortgage |  | Business |  | Consumer |  | Total
Pass |  | $ | 245,747 |  | $ | 484,680 |  | $ | 102,551 |  | $ | 7,135 |  | $ | 141 |  | $ | 882 |  | $ | 95 |  | $ | 841,231
Special Mention |  |  | 935 |  |  | 3,732 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 4,667
Substandard |  |  | 11,182 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 11,182
Total loans held for investment, gross |  | $ | 257,864 |  | $ | 488,412 |  | $ | 102,551 |  | $ | 7,135 |  | $ | 141 |  | $ | 882 |  | $ | 95 |  | $ | 857,080
|  | June 30, 2020
|  | Single- |  | Multi- |  | Commercial |  |  |  |  | Other |  | Commercial |  |  |  |  |  |
(In Thousands) |  | family |  | family |  | Real Estate |  | Construction |  | 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
Schedule of allowance for loan losses | The following table is provided to disclose additional details for the periods indicated on the Corporation’s allowance for loan losses:
|  | For the Quarter Ended |  | For the Six Months Ended |
|  | December 31, |  | December 31, |
(Dollars in Thousands) |  | 2020 |  | 2019 |  | 2020 |  | 2019 |
Allowance at beginning of period |  | $ | 8,490 |  | $ | 6,929 |  | $ | 8,265 |  | $ | 7,076 |
Provision (recovery) for loan losses |  |  | 39 |  |  | (22) |  |  | 259 |  |  | (203) |
Recoveries: |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage loans: |  |  |  |  |  |  |  |  |  |  |  |  |
Single-family |  |  | 9 |  |  | 13 |  |  | 14 |  |  | 49 |
Consumer loans |  |  | 1 |  |  | 1 |  |  | 1 |  |  | 1 |
Total recoveries |  |  | 10 |  |  | 14 |  |  | 15 |  |  | 50 |
Charge-offs: |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage loans: |  |  |  |  |  |  |  |  |  |  |  |  |
Single-family |  |  | — |  |  | — |  |  | — |  |  | (1) |
Consumer loans |  |  | (1) |  |  | — |  |  | (1) |  |  | (1) |
Total charge-offs |  |  | (1) |  |  | — |  |  | (1) |  |  | (2) |
Net recoveries (charge-offs) |  |  | 9 |  |  | 14 |  |  | 14 |  |  | 48 |
Balance at end of period |  | $ | 8,538 |  | $ | 6,921 |  | $ | 8,538 |  | $ | 6,921 |
Allowance for loan losses as a percentage of gross loans held for investment at the end of the period |  |  | 0.99 | % |  | 0.73 | % |  | 0.99 | % |  | 0.73 | %
Net (recoveries) charge-offs as a percentage of average loans receivable, net, during the period (annualized) |  |  | (0.00) | % |  | (0.01) | % |  | (0.00) | % |  | (0.01) | %
Schedule of past due status of gross loans held for investment, net of fair value adjustments |
|  | December 31, 2020
|  |  |  |  | 30‑89 Days |  |  |  |  | Total Loans Held for
(In Thousands) |  | Current |  | Past Due |  | Non-Accrual (1) |  | Investment, Gross
Mortgage loans: |  |  |  |  |  |  |  |  |  |  |  |
Single-family |  | $ | 246,334 |  | $ | 348 |  | $ | 11,182 |  | $ | 257,864
Multi-family |  |  | 488,412 |  |  | — |  |  | — |  |  | 488,412
Commercial real estate |  |  | 102,551 |  |  | — |  |  | — |  |  | 102,551
Construction |  |  | 7,135 |  |  | — |  |  | — |  |  | 7,135
Other |  |  | 141 |  |  | — |  |  | — |  |  | 141
Commercial business loans |  |  | 882 |  |  | — |  |  | — |  |  | 882
Consumer loans |  |  | 93 |  |  | 2 |  |  | — |  |  | 95
Total loans held for investment, gross |  | $ | 845,548 |  | $ | 350 |  | $ | 11,182 |  | $ | 857,080
| (1) |  | All loans 90 days or greater past due are placed on non-accrual status.
|  | June 30, 2020
|  |  |  |  | 30‑89 Days |  |  |  |  | Total Loans Held for
(In Thousands) |  | Current |  | Past 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.
Schedule of allowance for loan losses and recorded investment |
|  | Quarter Ended December 31, 2020 |
|  | Single- |  | Multi- |  | Commercial |  |  |  |  |  |  |  | Commercial |  |  |  |  |  |  |
(In Thousands) |  | family |  | family |  | Real Estate |  | Construction |  | Other |  | Business |  | Consumer |  | Total |
Allowance for loan losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Allowance at beginning of period |  | $ | 2,671 |  | $ | 4,490 |  | $ | 1,162 |  | $ | 116 |  | $ | 3 |  | $ | 42 |  | $ | 6 |  | $ | 8,490 |
Provision (recovery) for loan losses |  |  | 26 |  |  | 50 |  |  | (30) |  |  | (6) |  |  | — |  |  | (1) |  |  | — |  |  | 39 |
Recoveries |  |  | 9 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1 |  |  | 10 |
Charge-offs |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (1) |  |  | (1) |
Allowance for loan losses, end of period |  | $ | 2,706 |  | $ | 4,540 |  | $ | 1,132 |  | $ | 110 |  | $ | 3 |  | $ | 41 |  | $ | 6 |  | $ | 8,538 |
Allowance for loan losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment |  | $ | 570 |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 570 |
Collectively evaluated for impairment |  |  | 2,136 |  |  | 4,540 |  |  | 1,132 |  |  | 110 |  |  | 3 |  |  | 41 |  |  | 6 |  |  | 7,968 |
Allowance for loan losses, end of period |  | $ | 2,706 |  | $ | 4,540 |  | $ | 1,132 |  | $ | 110 |  | $ | 3 |  | $ | 41 |  | $ | 6 |  | $ | 8,538 |
Loans held for investment: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment |  | $ | 9,237 |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 9,237 |
Collectively evaluated for impairment |  |  | 248,627 |  |  | 488,412 |  |  | 102,551 |  |  | 7,135 |  |  | 141 |  |  | 882 |  |  | 95 |  |  | 847,843 |
Total loans held for investment, gross |  | $ | 257,864 |  | $ | 488,412 |  | $ | 102,551 |  | $ | 7,135 |  | $ | 141 |  | $ | 882 |  | $ | 95 |  | $ | 857,080 |
Allowance for loan losses as a percentage of gross loans held for investment |  |  | 1.05 | % |  | 0.93 | % |  | 1.10 | % |  | 1.54 | % |  | 2.13 | % |  | 4.65 | % |  | 6.32 | % |  | 0.99 | %
|  | Quarter Ended December 31, 2019 |
|  | Single- |  | Multi- |  | Commercial |  |  |  |  | Commercial |  |  |  |  |  |  |
(In Thousands) |  | family |  | family |  | Real Estate |  | Construction |  | Business |  | Consumer |  | Total |
Allowance for loan losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Allowance at beginning of period |  | $ | 2,234 |  | $ | 3,507 |  | $ | 1,085 |  | $ | 74 |  | $ | 20 |  | $ | 9 |  | $ | 6,929 |
Provision (recovery) for loan losses |  |  | (90) |  |  | (5) |  |  | (27) |  |  | 94 |  |  | 8 |  |  | (2) |  |  | (22) |
Recoveries |  |  | 13 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1 |  |  | 14 |
Charge-offs |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Allowance for loan losses, end of period |  | $ | 2,157 |  | $ | 3,502 |  | $ | 1,058 |  | $ | 168 |  | $ | 28 |  | $ | 8 |  | $ | 6,921 |
Allowance for loan losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment |  | $ | 46 |  | $ | — |  | $ | — |  | $ | — |  | $ | 6 |  | $ | — |  | $ | 52 |
Collectively evaluated for impairment |  |  | 2,111 |  |  | 3,502 |  |  | 1,058 |  |  | 168 |  |  | 22 |  |  | 8 |  |  | 6,869 |
Allowance for loan losses, end of period |  | $ | 2,157 |  | $ | 3,502 |  | $ | 1,058 |  | $ | 168 |  | $ | 28 |  | $ | 8 |  | $ | 6,921 |
Loans held for investment: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment |  | $ | 3,053 |  | $ | — |  | $ | — |  | $ | — |  | $ | 43 |  | $ | — |  | $ | 3,096 |
Collectively evaluated for impairment |  |  | 344,291 |  |  | 479,151 |  |  | 107,613 |  |  | 6,914 |  |  | 535 |  |  | 140 |  |  | 938,644 |
Total loans held for investment, gross |  | $ | 347,344 |  | $ | 479,151 |  | $ | 107,613 |  | $ | 6,914 |  | $ | 578 |  | $ | 140 |  | $ | 941,740 |
Allowance for loan losses as a percentage of gross loans held for investment |  |  | 0.62 | % |  | 0.73 | % |  | 0.98 | % |  | 2.43 | % |  | 4.84 | % |  | 5.71 | % |  | 0.73 | %
|  | Six Months Ended December 31, 2020 |
|  | Single- |  | Multi- |  | Commercial |  |  |  |  |  |  | Commercial |  |  |  |  |  |  |
(In Thousands) |  | family |  | family |  | Real Estate |  | Construction |  | Other |  | Business |  | Consumer |  | Total |
Allowance for loan losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Allowance at beginning of period |  | $ | 2,622 |  | $ | 4,329 |  | $ | 1,110 |  | $ | 171 |  | $ | 3 |  | $ | 24 |  | $ | 6 |  | $ | 8,265 |
Provision (recovery) for loan losses |  |  | 70 |  |  | 211 |  |  | 22 |  |  | (61) |  |  | — |  |  | 17 |  |  | — |  |  | 259 |
Recoveries |  |  | 14 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1 |  |  | 15 |
Charge-offs |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (1) |  |  | (1) |
Allowance for loan losses, end of period |  | $ | 2,706 |  | $ | 4,540 |  | $ | 1,132 |  | $ | 110 |  | $ | 3 |  | $ | 41 |  | $ | 6 |  | $ | 8,538 |
Allowance for loan losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment |  | $ | 570 |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 570 |
Collectively evaluated for impairment |  |  | 2,136 |  |  | 4,540 |  |  | 1,132 |  |  | 110 |  |  | 3 |  |  | 41 |  |  | 6 |  |  | 7,968 |
Allowance for loan losses, end of period |  | $ | 2,706 |  | $ | 4,540 |  | $ | 1,132 |  | $ | 110 |  | $ | 3 |  | $ | 41 |  | $ | 6 |  | $ | 8,538 |
Loans held for investment: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment |  | $ | 9,237 |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 9,237 |
Collectively evaluated for impairment |  |  | 248,627 |  |  | 488,412 |  |  | 102,551 |  |  | 7,135 |  |  | 141 |  |  | 882 |  |  | 95 |  |  | 847,843 |
Total loans held for investment, gross |  | $ | 257,864 |  | $ | 488,412 |  | $ | 102,551 |  | $ | 7,135 |  | $ | 141 |  | $ | 882 |  | $ | 95 |  | $ | 857,080 |
Allowance for loan losses as a percentage of gross loans held for investment |  |  | 1.05 | % |  | 0.93 | % |  | 1.10 | % |  | 1.54 | % |  | 2.13 | % |  | 4.65 | % |  | 6.32 | % |  | 0.99 | %
|  | Six Months Ended December 31, 2019 |
|  | Single- |  | Multi- |  | Commercial |  |  |  |  |  |  | Commercial |  |  |  |  |  |
(In Thousands) |  | family |  | family |  | Real Estate |  | Construction |  | Other |  | Business |  | Consumer |  | Total |
Allowance for loan losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Allowance at beginning of period |  | $ | 2,709 |  | $ | 3,219 |  | $ | 1,050 |  | $ | 61 |  | $ | 3 |  | $ | 26 |  | $ | 8 |  | $ | 7,076 |
Provision (recovery) for loan losses |  |  | (600) |  |  | 283 |  |  | 8 |  |  | 107 |  |  | (3) |  |  | 2 |  |  | — |  |  | (203) |
Recoveries |  |  | 49 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1 |  |  | 50 |
Charge-offs |  |  | (1) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (1) |  |  | (2) |
Allowance for loan losses, end of period |  | $ | 2,157 |  | $ | 3,502 |  | $ | 1,058 |  | $ | 168 |  | $ | — |  | $ | 28 |  | $ | 8 |  | $ | 6,921 |
Allowance for loan losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment |  | $ | 46 |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 6 |  | $ | — |  | $ | 52 |
Collectively evaluated for impairment |  |  | 2,111 |  |  | 3,502 |  |  | 1,058 |  |  | 168 |  |  | — |  |  | 22 |  |  | 8 |  |  | 6,869 |
Allowance for loan losses, end of period |  | $ | 2,157 |  | $ | 3,502 |  | $ | 1,058 |  | $ | 168 |  | $ | — |  | $ | 28 |  | $ | 8 |  | $ | 6,921 |
Loans held for investment: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment |  | $ | 3,053 |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 43 |  | $ | — |  | $ | 3,096 |
Collectively evaluated for impairment |  |  | 344,291 |  |  | 479,151 |  |  | 107,613 |  |  | 6,914 |  |  | — |  |  | 535 |  |  | 140 |  |  | 938,644 |
Total loans held for investment, gross |  | $ | 347,344 |  | $ | 479,151 |  | $ | 107,613 |  | $ | 6,914 |  | $ | — |  | $ | 578 |  | $ | 140 |  | $ | 941,740 |
Allowance for loan losses as a percentage of gross loans held for investment |  |  | 0.62 | % |  | 0.73 | % |  | 0.98 | % |  | 2.43 | % |  | — | % |  | 4.84 | % |  | 5.71 | % |  | 0.73 | %
Schedule of recorded investment in non-performing loans |
|  | At December 31, 2020
|  | Unpaid |  |  |  |  |  |  |  |  |  |  | Net
|  | Principal |  | Related |  | Recorded |  |  |  |  | Recorded
(In Thousands) |  | Balance |  | Charge-offs |  | Investment |  | Allowance (1) |  | Investment
Mortgage loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Single-family: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
With a related allowance |  | $ | 9,636 |  | $ | — |  | $ | 9,636 |  | $ | (928) |  | $ | 8,708
Without a related allowance (2) |  |  | 2,015 |  |  | (453) |  |  | 1,562 |  |  | — |  |  | 1,562
Total single-family |  |  | 11,651 |  |  | (453) |  |  | 11,198 |  |  | (928) |  |  | 10,270
Total non-performing loans |  | $ | 11,651 |  | $ | (453) |  | $ | 11,198 |  | $ | (928) |  | $ | 10,270
| (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, 2020
|  | Unpaid |  |  |  |  |  |  |  |  |  |  | Net
|  | Principal |  | Related |  | Recorded |  |  |  |  | Recorded
(In Thousands) |  | Balance |  | Charge-offs |  | Investment |  | Allowance (1) |  | Investment
Mortgage loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Single-family: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
With a related allowance |  | $ | 3,289 |  | $ | — |  | $ | 3,289 |  | $ | (438) |  | $ | 2,851
Without a related allowance (2) |  |  | 2,509 |  |  | (467) |  |  | 2,042 |  |  | — |  |  | 2,042
Total single-family |  |  | 5,798 |  |  | (467) |  |  | 5,331 |  |  | (438) |  |  | 4,893
Commercial business loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
With a related allowance |  |  | 35 |  |  | — |  |  | 35 |  |  | (4) |  |  | 31
Total commercial business loans |  |  | 35 |  |  | — |  |  | 35 |  |  | (4) |  |  | 31
Total non-performing loans |  | $ | 5,833 |  | $ | (467) |  | $ | 5,366 |  | $ | (442) |  | $ | 4,924
| (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.
Schedule of Nonperforming Loans on Interest Income | The following tables present the average recorded investment in non-performing loans and the related interest income recognized for the quarter and six months ended December 31, 2020 and 2019:
|  | Quarter Ended December 31,
|  | 2020 |  | 2019
|  | Average |  | Interest |  | Average |  | Interest
|  | Recorded |  | Income |  | Recorded |  | Income
(In Thousands) |  | Investment |  | Recognized |  | Investment |  | Recognized
Without related allowances: |  |  |  |  |  |  |  |  |  |  |  |
Mortgage loans: |  |  |  |  |  |  |  |  |  |  |  |
Single-family |  | $ | 1,570 |  | $ | — |  | $ | 2,874 |  | $ | 21
|  |  | 1,570 |  |  | — |  |  | 2,874 |  |  | 21
With related allowances: |  |  |  |  |  |  |  |  |  |  |  |
Mortgage loans: |  |  |  |  |  |  |  |  |  |  |  |
Single-family |  |  | 8,285 |  |  | 29 |  |  | 1,105 |  |  | 12
Commercial business loans |  |  | 19 |  |  | — |  |  | 44 |  |  | 1
|  |  | 8,304 |  |  | 29 |  |  | 1,149 |  |  | 13
Total |  | $ | 9,874 |  | $ | 29 |  | $ | 4,023 |  | $ | 34
|  | Six Months Ended December 31,
|  | 2020 |  | 2019
|  | Average |  | Interest |  | Average |  | Interest
|  | Recorded |  | Income |  | Recorded |  | Income
(In Thousands) |  | Investment |  | Recognized |  | Investment |  | Recognized
Without related allowances: |  |  |  |  |  |  |  |  |  |  |  |
Mortgage loans: |  |  |  |  |  |  |  |  |  |  |  |
Single-family |  | $ | 1,726 |  | $ | — |  | $ | 2,980 |  | $ | 111
Construction |  |  | — |  |  | — |  |  | 542 |  |  | 20
|  |  | 1,726 |  |  | — |  |  | 3,522 |  |  | 131
With related allowances: |  |  |  |  |  |  |  |  |  |  |  |
Mortgage loans: |  |  |  |  |  |  |  |  |  |  |  |
Single-family |  |  | 5,897 |  |  | 69 |  |  | 1,151 |  |  | 24
Commercial business loans |  |  | 26 |  |  | 1 |  |  | 45 |  |  | 2
|  |  | 5,923 |  |  | 70 |  |  | 1,196 |  |  | 26
Total |  | $ | 7,649 |  | $ | 70 |  | $ | 4,718 |  | $ | 157
Schedule of troubled debt restructurings by nonaccrual versus accrual status |
|  | At |  | At
(In Thousands) |  | December 31, 2020 |  | June 30, 2020
Restructured loans on non-accrual status: |  |  |  |  |  |
Mortgage loans: |  |  |  |  |  |
Single-family |  | $ | 8,208 |  | $ | 2,612
Commercial business loans |  |  | — |  |  | 31
Total |  |  | 8,208 |  |  | 2,643
Total restructured loans |  | $ | 8,208 |  | $ | 2,643
Schedule of recorded investment in restructured loans |
|  | At December 31, 2020
|  | Unpaid |  |  |  |  |  |  |  |  |  |  | Net
|  | Principal |  | Related |  | Recorded |  |  |  |  | Recorded
(In Thousands) |  | Balance |  | Charge-offs |  | Investment |  | Allowance (1) |  | Investment
Mortgage loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Single-family: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
With a related allowance |  | $ | 7,939 |  | $ | — |  | $ | 7,939 |  | $ | (587) |  | $ | 7,352
Without a related allowance (2) |  |  | 1,221 |  |  | (365) |  |  | 856 |  |  | — |  |  | 856
Total single-family |  |  | 9,160 |  |  | (365) |  |  | 8,795 |  |  | (587) |  |  | 8,208
Total restructured loans |  | $ | 9,160 |  | $ | (365) |  | $ | 8,795 |  | $ | (587) |  | $ | 8,208
| (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, 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.
Schedule of loan forbearance related to COVID-19 hardship requests |
|  | Forbearance Granted |  | Forbearance Completed (1) |  | Forbearance Remaining
|  | Number of |  |  |  |  | Number of |  |  |  |  | Number of |  |  |
(Dollars In Thousands) |  | Loans |  | Amount |  | Loans |  | Amount |  | Loans |  | Amount
Single-family loans |  | 58 |  | $ | 23,239 |  | 52 |  | $ | 21,404 |  | 6 |  | $ | 1,835
Multi-family loans |  | 5 |  |  | 2,346 |  | 3 |  |  | 1,583 |  | 2 |  |  | 763
Commercial real estate loans |  | 2 |  |  | 1,066 |  | 2 |  |  | 1,066 |  | — |  |  | —
Total loan forbearance |  | 65 |  | $ | 26,651 |  | 57 |  | $ | 24,053 |  | 8 |  | $ | 2,598
| (1) |  | Includes 16 single-family loans totaling $6.3 million which were subsequently extended and classified as restructured loans, consistent with the Interagency Statement.
As of December 31, 2020, certain characteristics of loans in forbearance 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 |  | 6 |  | $ | 1,835 |  | 0.21 | % | 75 | % | 725 |  | N/A |  | 6.0
Multi-family loans |  | 2 |  |  | 763 |  | 0.09 | % | 56 | % | 711 |  | 1.26 | x | 5.0
Total loans in forbearance |  | 8 |  | $ | 2,598 |  | 0.30 | % | 69 | % | 721 |  | 1.26 | x | 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.

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