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Loans and Allowance for Loan Losses (Tables)

12 Months Ended

Jun. 30, 2020

Categories of Loans

Classes of loans at June 30, include:

		2020				2019
Real estate loans
One- to four-family, including home equity loans		$	128,876			$	129,290
Multi-family			96,195				104,663
Commercial			145,113				143,367
Home equity lines of credit			8,551				8,938
Construction			22,042				16,113
Commercial			107,581				84,246
Consumer			7,529				7,136
		515,887				493,753
Less
Unearned fees and discounts, net			(164	)			(349	)
Allowance for loan losses			6,234				6,328
Loans, net		$	509,817			$	487,774

Allowance for Loan Losses and Recorded Investment in Loans Based on Portfolio Segment and Impairment Method

The following tables present the balance in the allowance for loan losses and the recorded investment in loans based on portfolio segment and impairment method as of June 30, 2020 and 2019:

		2020
		Real Estate Loans
		One- to four- family				Multi-family				Commercial				Home Equity Lines of Credit
Allowance for loan losses:
Balance, beginning of year		$	1,031			$	1,642			$	1,623			$	89
Provision charged to expense			50				(128	)			83				(2	)
Losses charged off			(40	)			—				—				—
Recoveries			3				—				—				—
Balance, end of period		$	1,044			$	1,514			$	1,706			$	87
Ending balance: individually evaluated for impairment		$	—			$	—			$	—			$	—
Ending balance: collectively evaluated for impairment		$	1,044			$	1,514			$	1,706			$	87
Loans:
Ending balance		$	128,876			$	96,195			$	145,113			$	8,551
Ending balance: individually evaluated for impairment		$	1,336			$	—			$	—			$	15
Ending balance: collectively evaluated for impairment		$	127,540			$	96,195			$	145,113			$	8,536
		2020 (Continued)
		Construction				Commercial				Consumer				Total
Allowance for loan losses:
Balance, beginning of year		$	213			$	1,659			$	71			$	6,328
Provision charged to expense			27				84				14				128
Losses charged off			—				(191	)			(37	)			(268	)
Recoveries			—				31				12				46
Balance, end of year		$	240			$	1,583			$	60			$	6,234
Ending balance: individually evaluated for impairment		$	—			$	—			$	—			$	—
Ending balance: collectively evaluated for impairment		$	240			$	1,583			$	60			$	6,234
Loans:
Ending balance		$	22,042			$	107,581			$	7,529			$	515,887
Ending balance: individually evaluated for impairment		$	—			$	304			$	5			$	1,660
Ending balance: collectively evaluated for impairment		$	22,042			$	107,277			$	7,524			$	514,227
		2019
		Real Estate Loans
		One- to four- family				Multi-family				Commercial				Home Equity  Lines of Credit
Allowance for loan losses:
Balance, beginning of year		$	997			$	1,650			$	1,604			$	91
Provision charged to expense			29				(8	)			19				13
Losses charged off			(17	)			—				—				(15	)
Recoveries			22				—				—				—
Balance, end of period		$	1,031			$	1,642			$	1,623			$	89
Ending balance: individually evaluated for impairment		$	13			$	—			$	—			$	—
Ending balance: collectively evaluated for impairment		$	1,018			$	1,642			$	1,623			$	89
Loans:
Ending balance		$	129,290			$	104,663			$	143,367			$	8,938
Ending balance: individually evaluated for impairment		$	1,722			$	—			$	18			$	22
Ending balance: collectively evaluated for impairment		$	127,568			$	104,663			$	143,349			$	8,916
		2019 (Continued)
		Construction				Commercial				Consumer				Total
Allowance for loan losses:
Balance, beginning of year		$	168			$	1,373			$	62			$	5,945
Provision charged to expense			45				286				23				407
Losses charged off			—				—				(18	)			(50	)
Recoveries			—				—				4				26
Balance, end of year		$	213			$	1,659			$	71			$	6,328
Ending balance: individually evaluated for impairment		$	—			$	—			$	10			$	23
Ending balance: collectively evaluated for impairment		$	213			$	1,659			$	61			$	6,305
Loans:
Ending balance		$	16,113			$	84,246			$	7,136			$	493,753
Ending balance: individually evaluated for impairment		$	—			$	60			$	29			$	1,851
Ending balance: collectively evaluated for impairment		$	16,113			$	84,186			$	7,107			$	491,902

Credit Risk Profile of Association's Loan Portfolio Based on Rating Category and Payment Activity

The following tables present the credit risk profile of the Company’s loan portfolio, as of June 30, 2020 and 2019, based on rating category and payment activity:

		Real Estate Loans
June 30, 2020		One- to four-family				Multi- family				Commercial				Home Equity Lines of Credit				Construction
Pass		$	127,279			$	95,925			$	143,727			$	8,402			$	22,042
Watch			775				—				1,073				134				—
Substandard			822				270				313				15				—
Doubtful			—				—				—				—				—
Loss			—				—				—				—				—
Total		$	128,876			$	96,195			$	145,113			$	8,551			$	22,042

June 30, 2020, (Continued)		Commercial				Consumer				Total
Pass		$	105,605			$	7,524			$	510,504
Watch			1,651				—				3,633
Substandard			81				5				1,506
Doubtful			244				—				244
Loss			—				—				—
Total		$	107,581			$	7,529			$	515,887

		Real Estate Loans
June 30, 2019		One- to four-family				Multi- family				Commercial				Home Equity Lines of Credit				Construction
Pass		$	127,386			$	104,504			$	142,076			$	8,918			$	16,113
Watch			—				—				1,040				—				—
Substandard			1,904				159				251				20				—
Doubtful			—				—				—				—				—
Loss			—				—				—				—				—
Total		$	129,290			$	104,663			$	143,367			$	8,938			$	16,113

June 30, 2019, (Continued)		Commercial				Consumer				Total
Pass		$	81,906			$	7,107			$	488,010
Watch			1,375				—				2,415
Substandard			965				19				3,318
Doubtful			—				10				10
Loss			—				—				—
Total		$	84,246			$	7,136			$	493,753

Association's Loan Portfolio Aging Analysis

The following tables present the Company’s loan portfolio aging analysis as of June 30, 2020 and 2019:

		30-59 Days Past Due				60-89 Days Past Due				Greater Than 90 Days				Total Past Due				Current				Total Loans Receivable				Total Loans >  90 Days & Accruing
June 30, 2020
Real estate loans:
One- to four-family		$	1,034			$	225			$	385			$	1,644			$	127,232			$	128,876			$	304
Multi-family			—				—				—				—				96,195				96,195				—
Commercial			172				95				—				267				144,846				145,113				—
Home equity lines of credit			—				—				—				—				8,551				8,551				—
Construction			—				—				—				—				22,042				22,042				—
Commercial			—				4				244				248				107,333				107,581				—
Consumer			24				43				—				67				7,462				7,529				—
Total		$	1,230			$	367			$	629			$	2,226			$	513,661			$	515,887			$	304
June 30, 2019
Real estate loans:
One- to four-family		$	1,515			$	255			$	481			$	2,251			$	127,039			$	129,290			$	226
Multi-family			422				—				—				422				104,241				104,663				—
Commercial			74				6				12				92				143,275				143,367				—
Home equity lines of credit			—				26				20				46				8,892				8,938				—
Construction			—				—				—				—				16,113				16,113				—
Commercial			291				—				60				351				83,895				84,246				—
Consumer			99				—				29				128				7,008				7,136				—
Total		$	2,401			$	287			$	602			$	3,290			$	490,463			$	493,753			$	226

Summary of Impaired Loans

The following tables present impaired loans for year ended June 30, 2020 and 2019:

		June 30, 2020
		Recorded Balance				Unpaid Principal Balance				Specific Allowance				Average Investment in Impaired Loans				Interest Income Recognized				Interest on Cash Basis
Loans without a specific allowance:
Real estate loans:
One- to four-family		$	1,336			$	1,336			$	—			$	1,388			$	61			$	62
Multi-family			—				—				—				—				—				—
Commercial			—				—				—				3				—				—
Home equity lines of credit			15				15				—				18				—				—
Construction			—				—				—				—				—				—
Commercial			304				304				—				382				23				25
Consumer			5				5				—				9				—				—
Loans with a specific allowance:
Real estate loans:
One- to four-family		$	—			$	—			$	—			$	—			$	—			$	—
Multi-family			—				—				—				—				—				—
Commercial			—				—				—				—				—				—
Home equity lines of credit			—				—				—				—				—				—
Construction			—				—				—				—				—				—
Commercial			—				—				—				—				—				—
Consumer			—				—				—				—				—				—
Total:
Real estate loans:
One- to four-family		$	1,336			$	1,336			$	—			$	1,388			$	61			$	62
Multi-family			—				—				—				—				—				—
Commercial			—				—				—				3				—				—
Home equity lines of credit			15				15				—				18				—				—
Construction			—				—				—				—				—				—
Commercial			304				304				—				382				23				25
Consumer			5				5				—				9				—				—
Total		$	1,660			$	1,660			$	—			$	1,800			$	84			$	87

		June 30, 2019
		Recorded Balance				Unpaid Principal Balance				Specific Allowance				Average Investment in Impaired Loans				Interest Income Recognized				Interest on Cash Basis
Loans without a specific allowance:
Real estate loans:
One- to four-family		$	1,676			$	1,676			$	—			$	1,718			$	63			$	71
Multi-family			—				—				—				1				—				—
Commercial			18				18				—				34				—				—
Home equity lines of credit			22				22				—				24				1				2
Construction			—				—				—				—				—				—
Commercial			60				60				—				63				6				6
Consumer			19				19				—				24				2				2
Loans with a specific allowance:
Real estate loans:
One- to four-family		$	46			$	46			$	13			$	47			$	1			$	1
Multi-family			—				—				—				—				—				—
Commercial			—				—				—				—				—				—
Home equity lines of credit			—				—				—				—				—				—
Construction			—				—				—				—				—				—
Commercial			—				—				—				—				—				—
Consumer			10				10				10				11				1				1
Total:
Real estate loans:
One- to four-family		$	1,722			$	1,722			$	13			$	1,765			$	64			$	72
Multi-family			—				—				—				1				—				—
Commercial			18				18				—				34				—				—
Home equity lines of credit			22				22				—				24				1				2
Construction			—				—				—				—				—				—
Commercial			60				60				—				63				6				6
Consumer			29				29				10				35				3				3
Total		$	1,851			$	1,851			$	23			$	1,922			$	74			$	83

Loans Modified as Troubled Debt Restructurings

The following table represents loans modified as troubled debt restructurings during the years ending June 30, 2020 and 2019:

		Year Ended June 30, 2020								Year Ended June 30, 2019
		Number of Modifications				Recorded Investment				Number of Modifications				Recorded Investment
Real estate loans:
One- to four-family			—			$	—				1			$	159
Home equity lines of credit			—				—				—				—
Multi-family			—				—				—				—
Commercial			—				—				—				—
Total real estate loans			—				—				1				159
Construction			—				—				—				—
Commercial			1				61				—				—
Consumer loans			—				—				—				—
Total			1			$	61				1			$	159

Nonaccrual 1 [Member]

Nonaccrual Loans

The following table presents the Company’s nonaccrual loans at June 30, 2020 and 2019:

		2020				2019
Real estate loans
One- to four-family, including home equity loans		$	81			$	414
Multi-family			—				—
Commercial			—				18
Home equity lines of credit			15				20
Construction			—				—
Commercial			304				60
Consumer			5				29
Total		$	405			$	541

Nonaccrual 2 [Member]

Nonaccrual Loans

The following table presents the recorded balance, at original cost, of troubled debt restructurings, as of June 30, 2020 and 2019. With the exception of one one- to four-family loan for $127,000, all were performing according to the terms of the restructuring as of June 30, 2020, and with the exception of three one- to four-family loans totaling $8,000, one home equity line of credit for $20,000, and one consumer loan for $2,000, all loans were performing according to the terms of restructuring as of June 30, 2019. As of June 30, 2020 all loans listed were on nonaccrual except for nine one- to four-family residential loans totaling $1.3 million. As of June 30, 2019 all loans listed were on nonaccrual except for ten one- to four-family residential loans totaling $1.3 million, one home equity line of credit for $1,000.    

		June 30, 2020				June 30, 2019
Real estate loans
One- to four-family		$	1,256			$	1,475
Multi-family			—				—
Commercial			—				6
Home equity lines of credit			15				22
Total real estate loans			1,271				1,503
Construction			—				—
Commercial			59				—
Consumer			—				2
Total		$	1,330			$	1,505

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