Loans Held for Investment

Schedule of loans held for investment, contractual repricing


	Adjustable Rate
			After		After		After
		Within	One Year		3 Years		5 Years
(In Thousands)	One Year		Through 3 Years		Through 5 Years		Through 10 Years		Fixed Rate		Total
Mortgage loans:
Single-family	$	54,826	$	19,064	$	64,330	$	264,053	$	110,359	$	512,632
Multi-family		144,363		130,700		143,405		47,726		138		466,332
Commercial real estate		42,412		14,277		32,511		—		1,296		90,496
Construction		625		174		—		—		2,092		2,891
Other		—		—		—		—		108		108
Commercial business loans		1,574		—		—		—		66		1,640
Consumer loans		61		—		—		—		—		61
Total loans held for investment, gross	$	243,861	$	164,215	$	240,246	$	311,779	$	114,059	$	1,074,160

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 Nine Months Ended
	March 31,						March 31,
(Dollars in Thousands)	2023			2022			2023			2022

Allowance at beginning of period	$	5,830		$	6,608		$	5,564		$	7,587

Provision (recovery) for loan losses		169			(645)			430			(2,051)

Recoveries:
Mortgage loans:
Single-family		2			6			7			433
Total recoveries		2			6			7			433

Total charge-offs		—			—			—			—

Net recoveries (charge-offs)		2			6			7			433
Balance at end of period	$	6,001		$	5,969		$	6,001		$	5,969

Allowance for loan losses as a percentage of gross loans held for investment at the end of the period		0.56	%		0.66	%		0.56	%		0.66	%
Net (recoveries) charge-offs as a percentage of average loans receivable, net, during the period (annualized)		(0.00)	%		(0.00)	%		(0.00)	%		(0.07)	%
Allowance for loan losses as a percentage of gross non-performing loans at the end of the period		584.32	%		268.15	%		584.32	%		268.15	%

Schedule of allowance for loan losses and recorded investment


	Quarter Ended March 31, 2023
	Single-			Multi-			Commercial									Commercial
(In Thousands)	family			family			Real Estate			Construction			Other			Business			Consumer			Total
Allowance for loan losses:
Allowance at beginning of period	$	1,600		$	3,300		$	847		$	17		$	3		$	58		$	5		$	5,830
Provision (recovery) for loan losses		127			7			21			4			(1)			12			(1)			169
Recoveries		2			—			—			—			—			—			—			2
Charge-offs		—			—			—			—			—			—			—			—
Allowance for loan losses, end of period	$	1,729		$	3,307		$	868		$	21		$	2		$	70		$	4		$	6,001

Allowance for loan losses:
Individually evaluated for impairment	$	38		$	—		$	—		$	—		$	—		$	—		$	—		$	38
Collectively evaluated for impairment		1,691			3,307			868			21			2			70			4			5,963
Allowance for loan losses, end of period	$	1,729		$	3,307		$	868		$	21		$	2		$	70		$	4		$	6,001

Loans held for investment:
Individually evaluated for impairment	$	804		$	—		$	—		$	—		$	—		$	—		$	—		$	804
Collectively evaluated for impairment		511,828			466,332			90,496			2,891			108			1,640			61			1,073,356
Total loans held for investment, gross	$	512,632		$	466,332		$	90,496		$	2,891		$	108		$	1,640		$	61		$	1,074,160
Allowance for loan losses as a percentage of gross loans held for investment		0.34	%		0.71	%		0.96	%		0.73	%		1.85	%		4.27	%		6.56	%		0.56	%
Net (recoveries) charge-offs to average loans receivable, net during the period		—	%		—	%		—	%		—	%		—	%		—	%		—	%		—	%


	Quarter Ended March 31, 2022
	Single-			Multi-			Commercial									Commercial
(In Thousands)	family			family			Real Estate			Construction				Other		Business			Consumer			Total
Allowance for loan losses:
Allowance at beginning of period	$	1,396		$	4,219		$	915		$	55		$	3		$	15		$	5		$	6,608
(Recovery) provision for loan losses		(64)			(544)			(45)			4			—			5			(1)			(645)
Recoveries		6			—			—			—			—			—			—			6
Charge-offs		—			—			—			—			—			—			—			—
Allowance for loan losses, end of period	$	1,338		$	3,675		$	870		$	59		$	3		$	20		$	4		$	5,969

Allowance for loan losses:
Individually evaluated for impairment	$	51		$	—		$	—		$	—		$	—		$	—		$	—		$	51
Collectively evaluated for impairment		1,287			3,675			870			59			3			20			4			5,918
Allowance for loan losses, end of period	$	1,338		$	3,675		$	870		$	59		$	3		$	20		$	4		$	5,969

Loans held for investment:
Individually evaluated for impairment	$	1,549		$	—		$	—		$	—		$	—		$	—		$	—		$	1,549
Collectively evaluated for impairment		326,112			468,656			91,344			4,127			131			459			73			890,902
Total loans held for investment, gross	$	327,661		$	468,656		$	91,344		$	4,127		$	131		$	459		$	73		$	892,451
Allowance for loan losses as a percentage of gross loans held for investment		0.41	%		0.78	%		0.95	%		1.43	%		2.29	%		4.36	%		5.48	%		0.66	%
Net (recoveries) charge-offs to average loans receivable, net during the period		(0.01)	%		—	%		—	%		—	%		—	%		—	%		—	%		—	%


	Nine Months Ended March 31, 2023
							Commercial									Commercial
(In Thousands)	Single-family			Multi-family			Real Estate			Construction			Other			Business			Consumer			Total
Allowance for loan losses:
Allowance at beginning of period	$	1,383		$	3,282		$	816		$	23		$	3		$	52		$	5		$	5,564
Provision (recovery) for loan losses		339			25			52			(2)			(1)			18			(1)			430
Recoveries		7			—			—			—			—			—			—			7
Charge-offs		—			—			—			—			—			—			—			—
Allowance for loan losses, end of period	$	1,729		$	3,307		$	868		$	21		$	2		$	70		$	4		$	6,001

Allowance for loan losses:
Individually evaluated for impairment	$	38		$	—		$	—		$	—		$	—		$	—		$	—		$	38
Collectively evaluated for impairment		1,691			3,307			868			21			2			70			4			5,963
Allowance for loan losses, end of period	$	1,729		$	3,307		$	868		$	21		$	2		$	70		$	4		$	6,001

Loans held for investment:
Individually evaluated for impairment	$	804		$	—		$	—		$	—		$	—		$	—		$	—		$	804
Collectively evaluated for impairment		511,828			466,332			90,496			2,891			108			1,640			61			1,073,356
Total loans held for investment, gross	$	512,632		$	466,332		$	90,496		$	2,891		$	108		$	1,640		$	61		$	1,074,160
Allowance for loan losses as a percentage of gross loans held for investment		0.34	%		0.71	%		0.96	%		0.73	%		1.85	%		4.27	%		6.56	%		0.56	%
Net (recoveries) charge-offs to average loans receivable, net during the period		—	%		—	%		—	%		—	%		—	%		—	%		—	%		—	%


	Nine Months Ended March 31, 2022
							Commercial									Commercial
(In Thousands)	Single-family			Multi-family			Real Estate			Construction			Other			Business			Consumer			Total
Allowance for loan losses:
Allowance at beginning of period	$	2,000		$	4,485		$	1,006		$	51		$	3		$	36		$	6		$	7,587
(Recovery) provision for loan losses		(1,095)			(810)			(136)			8			—			(16)			(2)			(2,051)
Recoveries		433			—			—			—			—			—			—			433
Charge-offs		—			—			—			—			—			—			—			—
Allowance for loan losses, end of period	$	1,338		$	3,675		$	870		$	59		$	3		$	20		$	4		$	5,969

Allowance for loan losses:
Individually evaluated for impairment	$	51		$	—		$	—		$	—		$	—		$	—		$	—		$	51
Collectively evaluated for impairment		1,287			3,675			870			59			3			20			4			5,918
Allowance for loan losses, end of period	$	1,338		$	3,675		$	870		$	59		$	3		$	20		$	4		$	5,969

Loans held for investment:
Individually evaluated for impairment	$	1,549		$	—		$	—		$	—		$	—		$	—		$	—		$	1,549
Collectively evaluated for impairment		326,112			468,656			91,344			4,127			131			459			73			890,902
Total loans held for investment, gross	$	327,661		$	468,656		$	91,344		$	4,127		$	131		$	459		$	73		$	892,451
Allowance for loan losses as a percentage of gross loans held for investment		0.41	%		0.78	%		0.95	%		1.43	%		2.29	%		4.36	%		5.48	%		0.66	%
Net (recoveries) charge-offs to average loans receivable, net during the period		(0.20)	%		—	%		—	%		—	%		—	%		—	%		—	%		(0.07)	%

Schedule of Nonperforming Loans on Interest Income


		Quarter Ended March 31,
	2023				2022
		Average	Interest		Average		Interest
		Recorded	Income		Recorded		Income
(In Thousands)		Investment	Recognized		Investment		Recognized
Without related allowances:
Mortgage loans:
Single-family	$	57	$	—	$	540	$	1
		57		—		540		1

With related allowances:
Mortgage loans:
Single-family		973		13		1,267		15
Multi-family		—		—		1,172		12
		973		13		2,439		27

Total	$	1,030	$	13	$	2,979	$	28


	Nine Months Ended March 31,
	2023				2022
		Average	Interest		Average		Interest
		Recorded	Income		Recorded		Income
(In Thousands)		Investment	Recognized		Investment		Recognized
Without related allowances:
Mortgage loans:
Single-family	$	87	$	—	$	675	$	232
		87		—		675		232

With related allowances:
Mortgage loans:
Single-family		983		33		3,126		86
Multi-family		—		—		1,179		43
		983		33		4,305		129

Total	$	1,070	$	33	$	4,980	$	361

Schedule of recorded investment in restructured loans


	At March 31, 2023
	Unpaid								Net
	Principal		Related		Recorded				Recorded
(In Thousands)	Balance		Charge-offs		Investment		Allowance⁽¹⁾		Investment

Mortgage loans:
Single-family:
With a related allowance	$	748	$	—	$	748	$	(38)	$	710
Without a related allowance⁽²⁾		655		—		655		—		655
Total single-family		1,403		—		1,403		(38)		1,365

Total restructured loans	$	1,403	$	—	$	1,403	$	(38)	$	1,365

(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, 2022
	Unpaid								Net
	Principal		Related		Recorded				Recorded
(In Thousands)	Balance		Charge-offs		Investment		Allowance⁽¹⁾		Investment

Mortgage loans:
Single-family:
With a related allowance	$	760	$	—	$	760	$	(38)	$	722
Without a related allowance⁽²⁾		3,748		—		3,748		—		3,748
Total single-family		4,508		—		4,508		(38)		4,470

Total restructured loans	$	4,508	$	—	$	4,508	$	(38)	$	4,470

(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.