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Loans Receivable Held for Investment (Tables) | 3 Months Ended
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Mar. 31, 2016
Loans Receivable Held for Investment |
Schedule of loans receivable |
|  | March 31, 2016 |  | December 31, 2015
|  | (In thousands)
Real estate: |  |  |  |
Single family (1) |  | $ | 124,025 |  | $ | 130,891
Multi-family |  | 142,773 |  | 118,616
Commercial real estate |  | 11,073 |  | 11,442
Church |  | 44,710 |  | 46,390
Construction |  | 332 |  | 343
Commercial – other |  | 289 |  | 270
Consumer |  | 6 |  | 4
Gross loans receivable before deferred loan costs and premiums |  | 323,208 |  | 307,956
Unamortized net deferred loan costs and premiums |  | 1,207 |  | 1,043
Gross loans receivable |  | 324,415 |  | 308,999
Allowance for loan losses |  | (4,534) |  | (4,828)
Loans receivable, net |  | $ | 319,881 |  | $ | 304,171
______ (1)Includes $94.4 million and $99.5 million of non-impaired purchased loans at March 31, 2016 and December 31, 2015, respectively, which are accounted for under ASC 310-20.
Activity in the allowance for loan losses by loan type |
|  | Three Months Ended March 31, 2016 |
|  | Real Estate |  |  |  |  |  |  |
|  | Single family |  | Multi- family |  | Commercial real estate |  | Church |  | Construction |  | Commercial - other |  | Consumer |  | Total |
|  | (In thousands) |
Beginning balance |  | $ | 597 |  | $ | 1,658 |  | $ | 469 |  | $ | 2,083 |  | $ | 3 |  | $ | 18 |  | $ | - |  | $ | 4,828 |
Provision for (recapture of) loan losses |  | (69 | ) | 208 |  | (25 | ) | (413 | ) | - |  | (1 | ) | - |  | (300 | )
Recoveries |  | - |  | - |  | - |  | 6 |  | - |  | - |  | - |  | 6 |
Loans charged off |  | - |  | - |  | - |  | - |  | - |  | - |  | - |  | - |
Ending balance |  | $ | 528 |  | $ | 1,866 |  | $ | 444 |  | $ | 1,676 |  | $ | 3 |  | $ | 17 |  | $ | - |  | $ | 4,534 |
|  | Three Months Ended March 31, 2015 |
|  | Real Estate |  |  |  |  |  |  |
|  | Single family |  | Multi- family |  | Commercial real estate |  | Church |  | Construction |  | Commercial - other |  | Consumer |  | Total |
|  | (In thousands) |
Beginning balance |  | $ | 1,174 |  | $ | 2,726 |  | $ | 496 |  | $ | 4,047 |  | $ | 7 |  | $ | 12 |  | $ | 3 |  | $ | 8,465 |
Provision for (recapture of) loan losses |  | (10 | ) | 15 |  | (60 | ) | (689 | ) | (3 | ) | (1 | ) | (2 | ) | (750 | )
Recoveries |  | - |  | - |  | - |  | 6 |  | - |  | - |  | - |  | 6 |
Loans charged off |  | - |  | - |  | - |  | (50 | ) | - |  | - |  | - |  | (50 | )
Ending balance |  | $ | 1,164 |  | $ | 2,741 |  | $ | 436 |  | $ | 3,314 |  | $ | 4 |  | $ | 11 |  | $ | 1 |  | $ | 7,671 |
Allowance for loan losses and recorded investment in loans by type of loans and based on impairment method |
|  | March 31, 2016
|  | Real Estate |  |  |  |  |  |
|  | Single family |  | Multi- family |  | Commercial real estate |  | Church |  | Construction |  | Commercial - other |  | Consumer |  | Total
|  | (In thousands)
Allowance for loan losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Ending allowance balance attributable to loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment |  | $ | 131 |  | $ | 2 |  | $ | 91 |  | $ | 570 |  | $ | - |  | $ | 15 |  | $ | - |  | $ | 809
Collectively evaluated for impairment |  | 397 |  | 1,864 |  | 353 |  | 1,106 |  | 3 |  | 2 |  | - |  | 3,725
Total ending allowance balance |  | $ | 528 |  | $ | 1,866 |  | $ | 444 |  | $ | 1,676 |  | $ | 3 |  | $ | 17 |  | $ | - |  | $ | 4,534
Loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Loans individually evaluated for impairment |  | $ | 939 |  | $ | 972 |  | $ | 1,939 |  | $ | 10,995 |  | $ | - |  | $ | 67 |  | $ | - |  | $ | 14,912
Loans collectively evaluated for impairment |  | 123,726 |  | 142,995 |  | 9,141 |  | 33,081 |  | 332 |  | 222 |  | 6 |  | 309,503
Total ending loans balance |  | $ | 124,665 |  | $ | 143,967 |  | $ | 11,080 |  | $ | 44,076 |  | $ | 332 |  | $ | 289 |  | $ | 6 |  | $ | 324,415
|  | December 31, 2015
|  | Real Estate |  |  |  |  |  |
|  | Single family |  | Multi- family |  | Commercial real estate |  | Church |  | Construction |  | Commercial - other |  | Consumer |  | Total
|  | (In thousands)
Allowance for loan losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Ending allowance balance attributable to loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment |  | $ | 134 |  | $ | 1 |  | $ | 88 |  | $ | 756 |  | $ | - |  | $ | 16 |  | $ | - |  | $ | 995
Collectively evaluated for impairment |  | 463 |  | 1,657 |  | 381 |  | 1,327 |  | 3 |  | 2 |  | - |  | 3,833
Total ending allowance balance |  | $ | 597 |  | $ | 1,658 |  | $ | 469 |  | $ | 2,083 |  | $ | 3 |  | $ | 18 |  | $ | - |  | $ | 4,828
Loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Loans individually evaluated for impairment |  | $ | 963 |  | $ | 1,440 |  | $ | 1,924 |  | $ | 11,390 |  | $ | - |  | $ | 67 |  | $ | - |  | $ | 15,784
Loans collectively evaluated for impairment |  | 130,632 |  | 118,186 |  | 9,488 |  | 34,359 |  | 343 |  | 203 |  | 4 |  | 293,215
Total ending loans balance |  | $ | 131,595 |  | $ | 119,626 |  | $ | 11,412 |  | $ | 45,749 |  | $ | 343 |  | $ | 270 |  | $ | 4 |  | $ | 308,999
Loans individually evaluated for impairment by loan type |
|  | March 31, 2016 |  | December 31, 2015 |
|  | Unpaid Principal Balance |  | Recorded Investment |  | Allowance for Loan Losses Allocated |  | Unpaid Principal Balance |  | Recorded Investment |  | Allowance for Loan Losses Allocated |
|  | (In thousands) |
With no related allowance recorded: |  |  |  |  |  |  |  |  |  |  |  |  |
Single family |  | $ | 873 |  | $ | 282 |  | $ | - |  | $ | 877 |  | $ | 302 |  | $ | - |
Multi-family |  | 385 |  | 315 |  | - |  | 912 |  | 779 |  | - |
Commercial real estate |  | 635 |  | 240 |  | - |  | 636 |  | 259 |  | - |
Church |  | 6,046 |  | 3,917 |  | - |  | 5,615 |  | 3,542 |  | - |
With an allowance recorded: |  |  |  |  |  |  |  |  |  |  |  |  |
Single family |  | 657 |  | 657 |  | 131 |  | 662 |  | 661 |  | 134 |
Multi-family |  | 657 |  | 657 |  | 2 |  | 661 |  | 661 |  | 1 |
Commercial real estate |  | 1,699 |  | 1,699 |  | 91 |  | 1,702 |  | 1,665 |  | 88 |
Church |  | 7,470 |  | 7,078 |  | 570 |  | 8,245 |  | 7,848 |  | 756 |
Commercial -other |  | 67 |  | 67 |  | 15 |  | 67 |  | 67 |  | 16 |
Total |  | $ | 18,489 |  | $ | 14,912 |  | $ | 809 |  | $ | 19,377 |  | $ | 15,784 |  | $ | 995 |
Average of loans individually evaluated for impairment by loan type and related interest income |
|  | Three Months Ended March 31, 2016 |  | Three Months Ended March 31, 2015
|  | Average Recorded Investment |  | Cash Basis Interest Income Recognized |  | Average Recorded Investment |  | Cash Basis Interest Income Recognized
|  | (In thousands)
Single family |  |  | $ | 951 |  |  |  | $ | 7 |  |  |  | $ | 1,382 |  |  |  | $ | 7 |
Multi-family |  |  | 1,206 |  |  |  | 41 |  |  |  | 2,740 |  |  |  | 16 |
Commercial real estate |  |  | 1,933 |  |  |  | 56 |  |  |  | 4,264 |  |  |  | 106 |
Church |  |  | 11,191 |  |  |  | 126 |  |  |  | 14,603 |  |  |  | 142 |
Commercial -other |  |  | 67 |  |  |  | - |  |  |  | 95 |  |  |  | 2 |
Total |  |  | $ | 15,348 |  |  |  | $ | 230 |  |  |  | $ | 23,084 |  |  |  | $ | 273 |
Aging of recorded investment in past due loans by loan type |
|  | March 31, 2016
|  | 30-59 Days Past Due |  | 60-89 Days Past Due |  | Greater than 90 Days Past Due |  | Total Past Due |  | Current
|  | (In thousands)
Loans receivable held for investment: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Single family |  |  | $ | 73 |  |  |  | $ | 5 |  |  |  | $ | - |  |  |  | $ | 78 |  |  |  | $ | 124,587 |
Multi-family |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 143,967 |
Commercial real estate |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 11,080 |
Church |  |  | 578 |  |  |  | - |  |  |  | 463 |  |  |  | 1,041 |  |  |  | 43,035 |
Construction |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 332 |
Commercial - other |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 289 |
Consumer |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 6 |
Total |  |  | $ | 651 |  |  |  | $ | 5 |  |  |  | $ | 463 |  |  |  | $ | 1,119 |  |  |  | $ | 323,296 |
|  | December 31, 2015
|  | 30-59 Days Past Due |  | 60-89 Days Past Due |  | Greater than 90 Days Past Due |  | Total Past Due |  | Current
|  | (In thousands)
Loans receivable held for investment: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Single family |  |  | $ | 103 |  |  |  | $ | - |  |  |  | $ | - |  |  |  | $ | 103 |  |  |  | $ | 131,492 |
Multi-family |  |  | 291 |  |  |  | - |  |  |  | - |  |  |  | 291 |  |  |  | 119,335 |
Commercial real estate |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 11,412 |
Church |  |  | 595 |  |  |  | - |  |  |  | 456 |  |  |  | 1,051 |  |  |  | 44,698 |
Construction |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 343 |
Commercial - other |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 270 |
Consumer |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 4 |
Total |  |  | $ | 989 |  |  |  | $ | - |  |  |  | $ | 456 |  |  |  | $ | 1,445 |  |  |  | $ | 307,554 |
Recorded investment in nonaccrual loans by loan type |
|  | March 31, 2016 |  | December 31, 2015
|  | (In thousands)
Loans receivable held for investment: |  |  |  |  |  |  |  |  |  |
Single family |  |  | $ | 282 |  |  |  | $ | 302 |
Multi-family |  |  | 315 |  |  |  | 779 |
Commercial real estate |  |  | 240 |  |  |  | 259 |
Church |  |  | 3,265 |  |  |  | 2,887 |
Total non-accrual loans |  |  | $ | 4,102 |  |  |  | $ | 4,227 |
Risk category of loans by loan type |
|  | March 31, 2016 |
|  | Pass |  | Watch |  | Special Mention |  | Substandard |  | Doubtful |  | Loss |
|  | (In thousands) |
Single family |  | $ | 122,163 |  | $ | - |  | $ | 2,220 |  | $ | 282 |  | $ | - |  | $ | - |
Multi-family |  | 141,922 |  | 493 |  | 350 |  | 1,202 |  | - |  | - |
Commercial real estate |  | 7,170 |  | - |  | - |  | 3,910 |  | - |  | - |
Church |  | 34,425 |  | 725 |  | 836 |  | 8,090 |  | - |  | - |
Construction |  | 332 |  | - |  | - |  | - |  | - |  | - |
Commercial - other |  | 222 |  | - |  | - |  | 67 |  | - |  | - |
Consumer |  | 6 |  | - |  | - |  | - |  | - |  | - |
Total |  | $ | 306,240 |  | $ | 1,218 |  | $ | 3,406 |  | $ | 13,551 |  | $ | - |  | $ | - |
|  | December 31, 2015 |
|  | Pass |  | Watch |  | Special Mention |  | Substandard |  | Doubtful |  | Loss |
|  | (In thousands) |
Single family |  | $ | 128,736 |  | $ | - |  | $ | 2,557 |  | $ | 302 |  | $ | - |  | $ | - |
Multi-family |  | 117,602 |  | - |  | 352 |  | 1,672 |  | - |  | - |
Commercial real estate |  | 7,509 |  | - |  | - |  | 3,903 |  | - |  | - |
Church |  | 35,013 |  | 776 |  | 1,431 |  | 8,529 |  | - |  | - |
Construction |  | 343 |  | - |  | - |  | - |  | - |  | - |
Commercial - other |  | 203 |  | - |  | - |  | 67 |  | - |  | - |
Consumer |  | 4 |  | - |  | - |  | - |  | - |  | - |
Total |  | $ | 289,410 |  | $ | 776 |  | $ | 4,340 |  | $ | 14,473 |  | $ | - |  | $ | - |

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- Definition Tabular disclosure of financing receivables by credit quality indicator. The credit quality indicator is a statistic about the credit quality of financing receivables. Examples include, but not limited to, consumer credit risk scores, credit-rating-agency ratings, an entity's internal credit risk grades, loan-to-value ratios, collateral, collection experience and other internal metrics. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 55 -Paragraph 19 -URI http://asc.fasb.org/extlink&oid=32702940&loc=SL6953803-111525 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=49124121&loc=SL6953659-111524 + Details
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