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Loans Held for Investment (Tables)
6 Months Ended
Dec. 31, 2024
Loans Held for Investment  
Schedule of loans held for investment

December 31, 

June 30, 

(In Thousands)

2024

 

2024

Mortgage loans:

 

  

 

  

 

Single-family

$

533,140

$

518,091

Multi-family

 

433,724

 

445,182

Commercial real estate

 

77,984

 

83,349

Construction

 

1,480

 

2,692

Other

 

90

 

95

Commercial business loans

 

4,371

 

1,372

Consumer loans

 

59

 

65

Total loans held for investment, gross

 

1,050,848

 

1,050,846

 

  

 

Advance payments of escrows

 

321

 

102

Deferred loan costs, net

 

9,390

 

9,096

ACL on loans

 

(6,956)

 

(7,065)

Total loans held for investment, net

$

1,053,603

$

1,052,979

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

$

43,222

$

41,274

$

133,501

$

205,724

$

109,419

$

533,140

Multi-family

 

183,799

 

155,154

 

92,961

 

1,717

 

93

 

433,724

Commercial real estate

 

30,622

 

32,868

 

14,113

 

 

381

 

77,984

Construction

 

1,480

 

 

 

 

 

1,480

Other

 

 

 

 

 

90

 

90

Commercial business loans

 

4,229

 

 

 

 

142

 

4,371

Consumer loans

 

59

 

 

 

 

 

59

Total loans held for investment, gross

$

263,411

$

229,296

$

240,575

$

207,441

$

110,125

$

1,050,848

Schedule of commercial real estate loans by property types and LTVs

Owner

Non-Owner

% of Total

Weighted

December 31, 2024

Occupied Loan

Occupied Loan

Total

Commercial

Average

(Dollars in Thousands)

Balance

Balance

Balance

Real Estate

LTV (1)

Office

$

5,785

$

20,426

$

26,211

34

%  

41

%  

Mixed use (2)

 

286

 

15,011

 

15,297

20

34

%  

Retail

10,011

10,011

13

30

%  

Warehouse

2,050

9,265

11,315

14

30

%  

Medical/dental office

2,046

4,509

6,555

8

43

%  

Mobile home park

6,838

6,838

9

38

%  

Restaurant/fast food

685

497

1,182

1

46

%  

Automotive - non gasoline

 

 

575

 

575

 

1

 

26

%  

Total commercial real estate

$

10,852

$

67,132

$

77,984

100

%  

37

%  

(1)Current loan balance as a percentage of the original appraised value.
(2)Mixed use includes $6.9 million in Office/Retail, $4.7 million in Multi-family/Retail, $2.3 million in Other Mixed Use, $747,000 in Multi-family/Commercial and $679,000 in Multi-family/Office.

Owner

Non-Owner

% of Total

Weighted

June 30, 2024

Occupied Loan

Occupied Loan

Total

Commercial

Average

(Dollars in Thousands)

Balance

Balance

Balance

Real Estate

LTV (1)

Office

$

6,690

$

20,084

$

26,774

32

%  

43

%  

Mixed use (2)

 

293

 

15,797

 

16,090

19

35

%  

Retail

12,501

12,501

15

30

%  

Warehouse

2,076

9,848

11,924

14

31

%  

Mobile home park

6,909

6,909

8

38

%  

Medical/dental office

2,439

4,645

7,084

9

44

%  

Restaurant/fast food

690

500

1,190

2

46

%  

Automotive - non gasoline

 

 

578

 

578

 

1

 

26

%  

Live/work

299

299

13

%  

Total commercial real estate

$

12,188

$

71,161

$

83,349

100

%  

37

%  

(1)Current loan balance as a percentage of the original appraised value.
(2)Mixed use includes $6.9 million in Office/Retail, $4.7 million in Multi-family/Retail, $3.0 million in Other Mixed Use, $754,000 in Multi-family/Commercial and $685,000 in Multi-family/Office..
Schedule of commercial real estate loans by geographic concentration

Inland

Southern

Other

 

December 31, 2024

Empire(1)

California(2)

California

Total

 

(Dollars in Thousands)

Balance

%

Balance

%

Balance

%

Balance

%

 

Owner occupied:

Office

$

690

    

12

%  

$

4,907

    

85

%  

$

188

    

3

%  

$

5,785

    

100

%  

Mixed use

%  

%  

286

100

%  

286

100

%  

Warehouse

%  

1,670

81

%  

380

19

%  

2,050

100

%  

Medical/dental office

274

13

%  

1,772

87

%  

%  

2,046

100

%  

Restaurant/fast food

%  

685

100

%  

%  

685

100

%  

Total owner occupied

964

9

%  

9,034

83

%  

854

8

%  

10,852

100

%  

Non-owner occupied:

Office

3,891

19

%  

13,666

67

%  

2,869

14

%  

20,426

100

%  

Mixed use

453

3

%  

6,291

42

%  

8,267

55

%  

15,011

100

%  

Retail

1,036

10

%  

5,433

54

%  

3,542

36

%  

10,011

100

%  

Warehouse

596

7

%  

4,390

47

%  

4,279

46

%  

9,265

100

%  

Mobile home park

4,809

70

%  

355

5

%  

1,674

25

%  

6,838

100

%  

Medical/dental office

 

1,747

 

39

%  

 

2,082

 

46

%  

 

680

 

15

%  

 

4,509

 

100

%  

Restaurant/fast food

%  

497

100

%  

%  

497

100

%  

Automotive - non gasoline

 

 

%  

 

575

 

100

%  

 

 

%  

 

575

 

100

%  

Total non-owner occupied

12,532

19

%  

33,289

49

%  

21,311

32

%  

67,132

100

%  

Total commercial real estate

$

13,496

 

17

%  

$

42,323

 

54

%  

$

22,165

 

29

%  

$

77,984

 

100

%

(1)Inland Empire comprised of San Bernardino and Riverside counties.
(2)Other than the Inland Empire.

Inland

Southern

Other

 

June 30, 2024

Empire(1)

California(2)

California

Total

 

(Dollars in Thousands)

Balance

%

Balance

%

Balance

%

Balance

%

 

Owner occupied:

Office

$

1,540

23

%  

$

4,959

74

%  

$

191

3

%  

$

6,690

    

100

%  

Mixed use

%  

%  

293

100

%  

293

    

100

%  

Warehouse

%  

1,689

81

%  

387

19

%  

2,076

    

100

%  

Medical/dental office

276

11

%  

1,791

74

%  

372

15

%  

2,439

    

100

%  

Restaurant/fast food

690

100

%  

%  

690

100

%  

Total owner occupied

1,816

15

%  

9,129

75

%  

1,243

10

%  

12,188

    

100

%  

Non-owner occupied:

Office

2,951

15

%  

13,837

69

%  

3,296

16

%  

20,084

100

%  

Mixed use

505

3

%  

6,243

40

%  

9,049

57

%  

15,797

100

%  

Retail

1,050

8

%  

6,996

56

%  

4,455

36

%  

12,501

100

%  

Warehouse

605

6

%  

4,774

49

%  

4,469

45

%  

9,848

100

%  

Mobile home park

4,859

70

%  

358

5

%  

1,692

25

%  

6,909

100

%  

Medical/dental office

 

1,797

 

39

%  

 

2,159

 

46

%  

 

689

 

15

%  

 

4,645

 

100

%  

Restaurant/fast food

%  

500

100

%  

%  

500

 

100

%  

Automotive - non gasoline

 

 

%  

 

578

 

100

%  

 

 

%  

 

578

 

100

%  

Live/work

 

 

%  

 

 

%  

 

299

 

100

%  

 

299

 

100

%  

Total non-owner occupied

11,767

16

%  

35,445

50

%  

23,949

34

%  

71,161

100

%  

Total commercial real estate

$

13,583

 

16

%  

$

44,574

 

54

%  

$

25,192

 

30

%  

$

83,349

 

100

%

(1)Inland Empire comprised of San Bernardino and Riverside counties.
(2)Other than the Inland Empire.
Schedule of gross loans held for investment by loan types and risk category

December 31, 2024

Term Loans by Year of Origination

Revolving

(In Thousands)

    

2024

    

2023

    

2022

    

2021

    

2020

    

Prior

    

Loans

    

Total

Mortgage loans:

Single-family:

Pass

$

64,156

$

53,394

$

201,366

$

145,262

$

17,203

$

49,246

$

8

$

530,635

Special Mention

-

-

-

-

-

-

-

-

Substandard

-

-

-

531

-

1,974

-

2,505

Total single-family

64,156

53,394

201,366

145,793

17,203

51,220

8

533,140

Current period gross charge-off

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

Multi-family:

Pass

21,990

28,739

74,938

84,977

59,421

160,951

-

431,016

Special Mention

-

-

-

-

-

632

-

632

Substandard

-

-

-

471

-

1,605

-

2,076

Total multi-family

21,990

28,739

74,938

85,448

59,421

163,188

-

433,724

Current period gross charge-off

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

Commercial real estate:

Pass

5,202

12,784

23,027

3,956

5,377

27,103

-

77,449

Special Mention

-

-

-

-

-

-

-

-

Substandard

118

417

-

-

-

-

-

535

Total commercial real estate

5,320

13,201

23,027

3,956

5,377

27,103

-

77,984

Current period gross charge-off

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

Construction:

Pass

1,480

-

-

-

-

-

-

1,480

Special Mention

-

-

-

-

-

-

-

-

Substandard

-

-

-

-

-

-

-

-

Total construction

1,480

-

-

-

-

-

-

1,480

Current period gross charge-off

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

Other:

Pass

-

-

-

-

90

-

-

90

Special Mention

-

-

-

-

-

-

-

-

Substandard

-

-

-

-

-

-

-

-

Total other

-

-

-

-

90

-

-

90

Current period gross charge-off

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

Commercial business loans:

Pass

-

-

114

-

-

-

4,257

4,371

Special Mention

-

-

-

-

-

-

-

-

Substandard

-

-

-

-

-

-

-

-

Total commercial business loans

-

-

114

-

-

-

4,257

4,371

Current period gross charge-off

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

Consumer loans:

Not graded

17

-

-

-

-

-

-

17

Pass

-

-

-

-

-

-

42

42

Special Mention

-

-

-

-

-

-

-

-

Substandard

-

-

-

-

-

-

-

-

Total consumer loans

17

-

-

-

-

-

42

59

Current period gross charge-off

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

Total loans held for investment, gross

$

92,963

$

95,334

$

299,445

$

235,197

$

82,091

$

241,511

$

4,307

$

1,050,848

Total current period gross charge-offs

$

$

$

$

$

$

$

$

June 30, 2024

Term Loans by Year of Origination

Revolving

(In Thousands)

    

2024

    

2023

    

2022

    

2021

    

2020

    

Prior

    

Loans

    

Total

Mortgage loans:

Single-family:

Pass

$

19,476

$

60,688

$

205,817

$

149,084

$

19,606

$

59,702

$

14

$

514,387

Special Mention

-

-

-

-

-

1,111

-

1,111

Substandard

-

-

-

-

-

2,593

-

2,593

Total single-family

19,476

60,688

205,817

149,084

19,606

63,406

14

518,091

Current period gross charge-off

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

Multi-family:

Pass

10,374

28,892

75,876

86,916

60,938

180,119

-

443,115

Special Mention

-

-

-

-

-

-

-

-

Substandard

-

-

-

478

-

1,589

-

2,067

Total multi-family

10,374

28,892

75,876

87,394

60,938

181,708

-

445,182

Current period gross charge-off

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

Commercial real estate:

Pass

3,874

13,763

23,298

4,018

5,450

32,946

-

83,349

Special Mention

-

-

-

-

-

-

-

-

Substandard

-

-

-

-

-

-

-

-

Total commercial real estate

3,874

13,763

23,298

4,018

5,450

32,946

-

83,349

Current period gross charge-off

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

Construction:

Pass

1,480

228

984

-

-

-

-

2,692

Special Mention

-

-

-

-

-

-

-

-

Substandard

-

-

-

-

-

-

-

-

Total construction

1,480

228

984

-

-

-

-

2,692

Current period gross charge-off

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

Other:

Pass

-

-

-

-

95

-

-

95

Special Mention

-

-

-

-

-

-

-

-

Substandard

-

-

-

-

-

-

-

-

Total other

-

-

-

-

95

-

-

95

Current period gross charge-off

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

Commercial business loans:

Pass

-

-

133

-

-

-

1,239

1,372

Special Mention

-

-

-

-

-

-

-

-

Substandard

-

-

-

-

-

-

-

-

Total commercial business loans

-

-

133

-

-

-

1,239

1,372

Current period gross charge-off

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

Consumer loans:

Not graded

23

-

-

-

-

-

-

23

Pass

-

-

-

-

-

-

42

42

Special Mention

-

-

-

-

-

-

-

-

Substandard

-

-

-

-

-

-

-

-

Total consumer loans

23

-

-

-

-

-

42

65

Current period gross charge-off

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

Total loans held for investment, gross

$

35,227

$

103,571

$

306,108

$

240,496

$

86,089

$

278,060

$

1,295

$

1,050,846

Total current period gross charge-offs

$

$

$

$

$

$

$

$

Schedule of allowance for credit losses

For the Quarter Ended 

    

For the Six Months Ended

 

December 31, 

December 31, 

 

(Dollars in Thousands)

    

2024

    

2023

    

2024

    

2023

    

ACL, beginning of period

$

6,329

$

7,679

$

7,065

$

5,946

Impact of ASC 326 CECL adoption(1)

-

1,197

Provision for (recovery of) credit losses

 

627

 

(679)

 

(109)

 

(143)

Total recoveries

 

 

 

 

Total charge-offs

 

 

 

 

Net recoveries (charge-offs)

 

 

 

 

ACL, end of period

$

6,956

$

7,000

$

6,956

$

7,000

    

ACL on loans as a percentage of gross loans held for investment

 

0.66

%  

 

0.65

%  

 

0.66

%  

 

0.65

%

Net (recoveries) charge-offs as a percentage of average loans receivable, net, during the period (annualized)

 

%  

 

%  

 

%  

 

%  

ACL on loans as a percentage of gross non-performing loans at the end of the period

269.40

%  

386.74

%  

269.40

%  

386.74

%  

(1)Represents the impact of adopting ASC 326 on July 1, 2023. Since that date, as a result of adopting ASC 326, the methodology to compute the ACL has been based on CECL methodology, rather than the previously applied incurred loss methodology.

Schedule of past due status of gross loans held for investment, net of fair value adjustments

December 31, 2024

30-89 Days Past

Total Loans Held for

(In Thousands)

    

Current

    

Due

    

Non-Performing

    

Investment

Mortgage loans:

Single-family

$

530,634

$

$

2,506

$

533,140

Multi-family

 

433,724

 

 

 

433,724

Commercial real estate

 

77,984

 

 

 

77,984

Construction

 

1,480

 

 

 

1,480

Other

 

90

 

 

 

90

Commercial business loans

 

4,371

 

 

 

4,371

Consumer loans

 

56

 

3

 

 

59

Total loans held for investment

$

1,048,339

$

3

$

2,506

$

1,050,848

June 30, 2024

    

    

30-89 Days Past

    

    

Total Loans Held for

(In Thousands)

Current

Due

Non-Performing

Investment

Mortgage loans:

Single-family

$

515,498

$

$

2,593

$

518,091

Multi-family

 

445,182

 

 

 

445,182

Commercial real estate

 

83,349

 

 

 

83,349

Construction

 

2,692

 

 

 

2,692

Other

95

 

 

 

95

Commercial business loans

 

1,372

 

 

 

1,372

Consumer loans

 

64

 

1

 

 

65

Total loans held for investment

$

1,048,252

$

1

$

2,593

$

1,050,846

Schedule of allowance for loan losses and recorded investment

    

Quarter Ended December 31, 2024

 

Single- 

Multi- 

Commercial 

Commercial 

(Dollars In Thousands)

 

family

 

family

 

Real Estate

Construction

Other

 

Business

Consumer

Total

ACL:

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

ACL, beginning of period

$

5,679

$

503

$

58

$

78

$

1

$

10

$

$

6,329

Provision for (recovery of) credit losses

582

46

1

(30)

1

27

627

Recoveries

 

 

 

 

 

 

 

 

Charge-offs

 

 

 

 

 

 

 

 

ACL, end of period

$

6,261

$

549

$

59

$

48

$

2

$

37

$

$

6,956

ACL:

 

 

 

 

 

 

 

 

Individually evaluated for impairment

$

$

$

$

$

$

$

$

Collectively evaluated for impairment

 

6,261

 

549

 

59

 

48

 

2

 

37

 

 

6,956

ACL, end of period

$

6,261

$

549

$

59

$

48

$

2

$

37

$

$

6,956

Loans held for investment:

 

 

 

 

 

 

 

 

Individually evaluated for impairment

$

742

$

$

$

$

$

$

$

742

Collectively evaluated for impairment

 

532,398

 

433,724

 

77,984

 

1,480

 

90

 

4,371

 

59

 

1,050,106

Total loans held for investment, gross

$

533,140

$

433,724

$

77,984

$

1,480

$

90

$

4,371

$

59

$

1,050,848

ACL on loans as a percentage of gross loans held for investment

 

1.17

%  

 

0.13

%  

 

0.08

%  

 

3.24

%  

 

2.22

%  

 

0.85

%  

 

%  

 

0.66

%  

Net (recoveries) charge-offs to average loans receivable, net during the period

%  

%  

%  

%  

%  

%  

%  

%  

    

Quarter Ended December 31, 2023

Single- 

Multi- 

Commercial 

Commercial 

(Dollars In Thousands)

 

family

 

family

 

Real Estate

Construction

 

Other

Business

Consumer

Total

ACL:

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

ACL, beginning of period

$

6,875

$

659

$

76

$

54

$

4

$

11

$

$

7,679

(Recovery of) provision for credit losses

 

(640)

 

(17)

 

(3)

 

(18)

 

(2)

 

1

 

 

(679)

Recoveries

 

 

 

 

 

 

 

 

Charge-offs

 

 

 

 

 

 

 

 

ACL, end of period

$

6,235

$

642

$

73

$

36

$

2

$

12

$

$

7,000

ACL:

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

Individually evaluated for impairment

$

37

$

$

$

$

$

$

$

37

Collectively evaluated for impairment

 

6,198

 

642

 

73

 

36

 

2

 

12

 

 

6,963

ACL, end of period

$

6,235

$

642

$

73

$

36

$

2

$

12

$

$

7,000

Loans held for investment:

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

Individually evaluated for impairment

$

810

$

$

$

$

$

$

$

810

Collectively evaluated for impairment

 

521,134

 

458,502

 

88,640

 

2,534

 

102

 

1,616

 

68

 

1,072,596

Total loans held for investment, gross

$

521,944

$

458,502

$

88,640

$

2,534

$

102

$

1,616

$

68

$

1,073,406

ACL on loans as a percentage of gross loans held for investment

 

1.19

%  

 

0.14

%  

 

0.08

%  

 

1.42

%  

 

1.96

%  

 

0.74

%  

 

%  

 

0.65

%  

Net (recoveries) charge-offs to average loans receivable, net during the period

%  

%  

%  

%  

%  

%  

%  

%  

Six Months Ended December 31, 2024

 

Commercial

Commercial

(Dollars In Thousands)

    

Single-family

    

Multi-family

    

Real Estate

    

Construction

    

Other

    

Business

    

Consumer

    

Total

 

ACL:

 

ACL, beginning of period

$

6,295

$

595

$

66

$

97

$

1

$

11

$

$

7,065

(Recovery of) provision for credit losses

(34)

(46)

(7)

(49)

1

26

(109)

Recoveries

 

 

 

 

 

 

 

 

Charge-offs

 

 

 

 

 

 

 

 

ACL, end of period

$

6,261

$

549

$

59

$

48

$

2

$

37

$

$

6,956

ACL:

Individually evaluated for impairment

$

$

$

$

$

$

$

$

Collectively evaluated for impairment

 

6,261

 

549

 

59

 

48

 

2

 

37

 

 

6,956

ACL, end of period

$

6,261

$

549

$

59

$

48

$

2

$

37

$

$

6,956

Loans held for investment:

Individually evaluated for impairment

$

742

$

$

$

$

$

$

$

742

Collectively evaluated for impairment

 

532,398

 

433,724

 

77,984

 

1,480

 

90

 

4,371

 

59

 

1,050,106

Total loans held for investment, gross

$

533,140

$

433,724

$

77,984

$

1,480

$

90

$

4,371

$

59

$

1,050,848

ACL on loans as a percentage of gross loans held for investment

 

1.17

%  

 

0.13

%  

 

0.08

%  

 

3.24

%  

 

2.22

%  

 

0.85

%  

 

%  

 

0.66

%

Net (recoveries) charge-offs to average loans receivable, net during the period

%  

%  

%  

%  

%  

%  

%  

%

Six Months Ended December 31, 2023

 

Commercial

Commercial

(Dollars In Thousands)

    

Single-family

    

Multi-family

    

Real Estate

    

Construction

    

Other

    

Business

    

Consumer

    

Total

 

ACL:

 

ACL, beginning of period

$

1,720

$

3,270

$

868

$

15

$

2

$

67

$

4

$

5,946

Adjustment to allowance for adoption of ASC 326

4,605

(2,614)

(786)

47

3

(54)

(4)

1,197

Recovery of credit losses

 

(90)

 

(14)

 

(9)

 

(26)

 

(3)

 

(1)

 

 

(143)

Recoveries

 

 

 

 

 

 

 

 

Charge-offs

 

 

 

 

 

 

 

 

ACL, end of period

$

6,235

$

642

$

73

$

36

$

2

$

12

$

$

7,000

ACL:

 

Individually evaluated for impairment

$

37

$

$

$

$

$

$

$

37

Collectively evaluated for impairment

 

6,198

 

642

 

73

 

36

 

2

 

12

 

 

6,963

ACL, end of period

$

6,235

$

642

$

73

$

36

$

2

$

12

$

$

7,000

Loans held for investment:

 

Individually evaluated for impairment

$

810

$

$

$

$

$

$

$

810

Collectively evaluated for impairment

 

521,134

 

458,502

 

88,640

 

2,534

 

102

 

1,616

 

68

 

1,072,596

Total loans held for investment, gross

$

521,944

$

458,502

$

88,640

$

2,534

$

102

$

1,616

$

68

$

1,073,406

ACL on loans as a percentage of gross loans held for investment

 

1.19

%  

 

0.14

%  

 

0.08

%  

 

1.42

%  

 

1.96

%  

 

0.74

%  

 

%  

 

0.65

%

Net (recoveries) charge-offs to average loans receivable, net during the period

%  

%  

%  

%  

%  

%  

%  

%

Schedule of recorded investment in restructured loans

At December 31, 2024

Unpaid

Net

Principal

Related

Recorded

Recorded

(In Thousands)

    

Balance

    

Charge-offs

    

Investment

    

ACL(1)

    

Investment

Mortgage loans:

Single-family:

 

  

 

  

 

  

 

  

 

  

With a related allowance

$

1,840

$

$

1,840

$

(52)

$

1,788

Without a related allowance(2)

 

767

 

(25)

 

742

 

 

742

Total single-family loans

 

2,607

 

(25)

 

2,582

 

(52)

 

2,530

Total non-performing loans

$

2,607

$

(25)

$

2,582

$

(52)

$

2,530

(1)ACL, specifically assigned to the individual loan.
(2)There was no related ACL because the loans were charged-off to their fair value or the fair value of the collateral was higher than the loan balance.

At June 30, 2024

Unpaid

Related

Net

Principal

Charge-offs

Recorded

Recorded

(In Thousands)

    

Balance

    

Related

    

Investment

    

ACL(1)

    

Investment

Mortgage loans:

 

  

 

  

 

  

 

  

 

  

Single-family:

 

  

 

  

 

  

 

  

 

  

With a related allowance

$

2,267

$

$

2,267

$

(73)

$

2,194

Without a related allowance(2)

 

427

 

(25)

 

402

 

 

402

Total single-family loans

 

2,694

 

(25)

 

2,669

 

(73)

 

2,596

Total non-performing loans

$

2,694

$

(25)

$

2,669

$

(73)

$

2,596

(1)ACL, specifically assigned to the individual loan.
(2)There was no related ACL because the loans were charged-off to their fair value or the fair value of the collateral was higher than the loan balance.
Schedule of recorded investment in non-performing loans

Quarter Ended December 31, 

2024

2023

Average

Interest

Average

Interest

Recorded

Income

Recorded

Income

(In Thousands)

    

Investment

    

Recognized

    

Investment

    

Recognized

Without related ACL:

 

 

 

 

Mortgage loans:

Single-family

$

743

$

1

$

73

 

$

8

 

 

743

 

1

 

73

 

 

8

With related ACL:

 

 

 

 

 

 

Mortgage loans:

Single-family

 

1,688

 

18

 

1,347

 

 

13

 

 

1,688

 

18

 

1,347

 

 

13

Total

$

2,431

$

19

$

1,420

 

$

21

Six Months Ended December 31, 

2024

2023

Average

Interest

Average

Interest

Recorded

Income

Recorded

Income

(In Thousands)

    

Investment

    

Recognized

    

Investment

    

Recognized

Without related ACL:

 

 

 

 

Mortgage loans:

Single-family

$

795

$

6

$

162

 

$

8

 

795

 

6

 

162

 

8

With related ACL:

 

 

 

 

Mortgage loans:

Single-family

1,633

 

52

 

1,255

 

31

 

1,633

 

52

 

1,255

 

31

Total

$

2,428

$

58

$

1,417

 

$

39

Schedule of allowance for credit losses of undisbursed funds and commitments on loans held for investment

For the Quarter Ended

For the Six Months Ended

December 31, 

December 31, 

(In Thousands)

    

2024

    

2023

    

2024

    

2023

Balance, beginning of the period

$

96

$

51

$

57

$

42

Recovery of credit losses

(41)

(41)

(2)

(32)

Balance, end of the period

$

55

$

10

$

55

$

10