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Loans Receivable Held for Investment (Tables) | 12 Months Ended
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Dec. 31, 2019
Loans Receivable Held for Investment |
Schedule of loans receivable held for investment |
|  | December 31, 2019 |  | December 31, 2018
|  | (In thousands)
Real estate: |  |  |  |  |  |
Single family |  | $ | 72,883 |  | $ | 91,835
Multi-family |  |  | 287,378 |  |  | 231,870
Commercial real estate |  |  | 14,728 |  |  | 5,802
Church |  |  | 21,301 |  |  | 25,934
Construction |  |  | 3,128 |  |  | 1,876
Commercial – other |  |  | 262 |  |  | 226
Consumer |  |  | 21 |  |  | 5
Gross loans receivable before deferred loan costs and premiums |  |  | 399,701 |  |  | 357,548
Unamortized net deferred loan costs and premiums |  |  | 1,328 |  |  | 937
Gross loans receivable |  |  | 401,029 |  |  | 358,485
Allowance for loan losses |  |  | (3,182) |  |  | (2,929)
Loans receivable, net |  | $ | 397,847 |  | $ | 355,556
Schedule of activity in the allowance for loan losses by loan type |
|  | For the year ended December 31, 2019
|  | Real Estate |  |  |  |  |  |  |  |  |
|  | Single |  | Multi- |  | Commercial |  |  |  |  |  |  |  | Commercial |  |  |  |  |  |
|  | family |  | family |  | real estate |  | Church |  | Construction |  | – other |  | Consumer |  | Total
|  | (In thousands)
Beginning balance |  | $ | 369 |  | $ | 1,880 |  | $ | 52 |  | $ | 603 |  | $ | 19 |  | $ | 6 |  | $ | — |  | $ | 2,929
Provision for (recapture of) loan losses |  |  | (57) |  |  | 439 |  |  | 81 |  |  | (501) |  |  | 29 |  |  | 1 |  |  | 1 |  |  | (7)
Recoveries |  |  | — |  |  | — |  |  | — |  |  | 260 |  |  | — |  |  | — |  |  | — |  |  | 260
Loans charged off |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | —
Ending balance |  | $ | 312 |  | $ | 2,319 |  | $ | 133 |  | $ | 362 |  | $ | 48 |  | $ | 7 |  | $ | 1 |  | $ | 3,182
|  | For the year ended December 31, 2018
|  | Real Estate |  |  |  |  |  |  |  |  |
|  | Single |  | Multi- |  | Commercial |  |  |  |  |  |  |  | Commercial |  |  |  |  |  |
|  | family |  | family |  | real estate |  | Church |  | Construction |  | – other |  | Consumer |  | Total
|  | (In thousands)
Beginning balance |  | $ | 594 |  | $ | 2,300 |  | $ | 71 |  | $ | 1,081 |  | $ | 17 |  | $ | 6 |  | $ | — |  | $ | 4,069
Recapture of loan losses |  |  | (225) |  |  | (420) |  |  | (19) |  |  | (592) |  |  | 2 |  |  | — |  |  | — |  |  | (1,254)
Recoveries |  |  | — |  |  | — |  |  | — |  |  | 114 |  |  | — |  |  | — |  |  | — |  |  | 114
Loans charged off |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | —
Ending balance |  | $ | 369 |  | $ | 1,880 |  | $ | 52 |  | $ | 603 |  | $ | 19 |  | $ | 6 |  | $ | — |  | $ | 2,929
Schedule of allowance for loan losses and recorded investment in loans by type of loans and based on impairment method |
|  | December 31, 2019
|  | Real Estate |  |  |  |  |  |  |  |  |
|  | Single |  | Multi- |  | Commercial |  |  |  |  |  |  |  | Commercial |  |  |  |  |  |
|  | family |  | family |  | real estate |  | Church |  | Construction |  | – other |  | Consumer |  | Total
|  | (In thousands)
Allowance for loan losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Ending allowance balance attributable to loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment |  | $ | 60 |  | $ | — |  | $ | — |  | $ | 85 |  | $ | — |  | $ | 2 |  | $ | — |  | $ | 147
Collectively evaluated for impairment |  |  | 252 |  |  | 2,319 |  |  | 133 |  |  | 277 |  |  | 48 |  |  | 5 |  |  | 1 |  |  | 3,035
Total ending allowance balance |  | $ | 312 |  | $ | 2,319 |  | $ | 133 |  | $ | 362 |  | $ | 48 |  | $ | 7 |  | $ | 1 |  | $ | 3,182
Loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Loans individually evaluated for impairment |  | $ | 611 |  | $ | 313 |  | $ | — |  | $ | 4,356 |  | $ | — |  | $ | 63 |  | $ | — |  | $ | 5,343
Loans collectively evaluated for impairment |  |  | 72,501 |  |  | 288,730 |  |  | 14,818 |  |  | 16,292 |  |  | 3,125 |  |  | 199 |  |  | 21 |  |  | 395,686
Total ending loans balance |  | $ | 73,112 |  | $ | 289,043 |  | $ | 14,818 |  | $ | 20,648 |  | $ | 3,125 |  | $ | 262 |  | $ | 21 |  | $ | 401,029
|  | December 31, 2018
|  | Real Estate |  |  |  |  |  |  |  |  |
|  | Single |  | Multi- |  | Commercial |  |  |  |  |  |  |  | Commercial |  |  |  |  |  |
|  | family |  | family |  | real estate |  | Church |  | Construction |  | – other |  | Consumer |  | Total
|  | (In thousands)
Allowance for loan losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Ending allowance balance attributable to loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment |  | $ | 53 |  | $ | — |  | $ | — |  | $ | 170 |  | $ | — |  | $ | 4 |  | $ | — |  | $ | 227
Collectively evaluated for impairment |  |  | 316 |  |  | 1,880 |  |  | 52 |  |  | 433 |  |  | 19 |  |  | 2 |  |  | — |  |  | 2,702
Total ending allowance balance |  | $ | 369 |  | $ | 1,880 |  | $ | 52 |  | $ | 603 |  | $ | 19 |  | $ | 6 |  | $ | — |  | $ | 2,929
Loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Loans individually evaluated for impairment |  | $ | 610 |  | $ | 323 |  | $ | — |  | $ | 5,383 |  | $ | — |  | $ | 64 |  | $ | — |  | $ | 6,380
Loans collectively evaluated for impairment |  |  | 91,567 |  |  | 232,986 |  |  | 5,800 |  |  | 19,713 |  |  | 1,872 |  |  | 162 |  |  | 5 |  |  | 352,105
Total ending loans balance |  | $ | 92,177 |  | $ | 233,309 |  | $ | 5,800 |  | $ | 25,096 |  | $ | 1,872 |  | $ | 226 |  | $ | 5 |  | $ | 358,485
Schedule of loans individually evaluated for impairment by loan type |
|  | December 31, 2019 |  | December 31, 2018
|  |  |  |  |  |  |  | Allowance |  |  |  |  |  |  |  | Allowance
|  | Unpaid |  |  |  |  | for Loan |  | Unpaid |  |  |  |  | for Loan
|  | Principal |  | Recorded |  | Losses |  | Principal |  | Recorded |  | Losses
|  | Balance |  | Investment |  | Allocated |  | Balance |  | Investment |  | Allocated
|  | (In thousands)
With no related allowance recorded: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Multi-family |  | $ | 313 |  | $ | 313 |  | $ | — |  | $ | 323 |  | $ | 323 |  | $ | —
Church |  |  | 3,491 |  |  | 2,446 |  |  | — |  |  | 4,666 |  |  | 2,803 |  |  | —
With an allowance recorded: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Single family |  |  | 593 |  |  | 593 |  |  | 60 |  |  | 610 |  |  | 610 |  |  | 53
Multi-family |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | —
Church |  |  | 1,928 |  |  | 1,928 |  |  | 85 |  |  | 2,580 |  |  | 2,580 |  |  | 170
Commercial - other |  |  | 63 |  |  | 63 |  |  | 2 |  |  | 64 |  |  | 64 |  |  | 4
Total |  | $ | 6,388 |  | $ | 5,343 |  | $ | 147 |  | $ | 8,243 |  | $ | 6,380 |  | $ | 227
Schedule of average of loans individually evaluated for impairment by loan type and related interest income |
|  | For the year ended December 31, 2019 |  | For the year ended December 31, 2018
|  |  |  | Cash Basis |  |  |  | Cash Basis
|  | Average |  | Interest |  | Average |  | Interest
|  | Recorded |  | Income |  | Recorded |  | Income
|  | Investment |  | Recognized |  | Investment |  | Recognized
|  |  | (In thousands)
Single family |  | $ | 626 |  | $ | 29 |  | $ | 618 |  | $ | 30
Multi-family |  |  | 318 |  |  | 22 |  |  | 329 |  |  | 23
Commercial real estate |  |  | — |  |  | — |  |  | — |  |  | —
Church |  |  | 5,017 |  |  | 939 |  |  | 7,893 |  |  | 398
Commercial – other |  |  | 63 |  |  | 5 |  |  | 64 |  |  | 4
Total |  | $ | 6,024 |  | $ | 995 |  | $ | 8,904 |  | $ | 455
Schedule of aging of the recorded investment in past due loans by loan type |
|  | December 31, 2019
|  | 30-59 |  | 60-89 |  | Greater than |  |  |  |  |  |  |  |  |
|  | Days |  | Days |  | 90 Days |  | Total |  |  |  |  |
|  | Past Due |  | Past Due |  | Past Due |  | Past Due |  | Current |  | Total
|  | (In thousands) |  |  |
Loans receivable held for investment: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Single family |  | $ | 18 |  | $ | — |  | $ | — |  | $ | 18 |  | $ | 73,094 |  | $ | 73,112
Multi-family |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 289,043 |  |  | 289,043
Commercial real estate |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 14,818 |  |  | 14,818
Church |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 20,648 |  |  | 20,648
Construction |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 3,125 |  |  | 3,125
Commercial – other |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 262 |  |  | 262
Consumer |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 21 |  |  | 21
Total |  | $ | 18 |  | $ | — |  | $ | — |  | $ | 18 |  | $ | 401,011 |  | $ | 401,029
|  | December 31, 2018
|  | 30-59 |  | 60-89 |  | Greater than |  |  |  |  |  |  |  |  |
|  | Days |  | Days |  | 90 Days |  | Total |  |  |  |  |
|  | Past Due |  | Past Due |  | Past Due |  | Past Due |  | Current |  | Total
|  | (In thousands) |  |  |
Loans receivable held for investment: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Single family |  | $ | 35 |  | $ | — |  | $ | — |  | $ | 35 |  | $ | 92,142 |  | $ | 92,177
Multi-family |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 233,309 |  |  | 233,309
Commercial real estate |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 5,800 |  |  | 5,800
Church |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 25,096 |  |  | 25,096
Construction |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1,872 |  |  | 1,872
Commercial – other |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 226 |  |  | 226
Consumer |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 5 |  |  | 5
Total |  | $ | 35 |  | $ | — |  | $ | — |  | $ | 35 |  | $ | 358,450 |  | $ | 358,485
Schedule of recorded investment in non-accrual loans by loan type |
|  | December 31, 2019 |  | December 31, 2018
Loans receivable held for investment: |  | (In thousands)
Single family |  | $ | 18 |  | $ | —
Church |  |  | 406 |  |  | 911
Total non-accrual loans |  | $ | 424 |  | $ | 911
Schedule of risk categories of loans by loan type |
|  | December 31, 2019
|  | Pass |  | Watch |  | Special Mention |  | Substandard |  | Doubtful |  | Loss
|  | (In thousands)
Single family |  | $ | 73,094 |  | $ | — |  | $ | — |  | $ | 18 |  | $ | — |  | $ | —
Multi-family |  |  | 288,251 |  |  | 411 |  |  | — |  |  | 381 |  |  | — |  |  | —
Commercial real estate |  |  | 14,818 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | —
Church |  |  | 16,546 |  |  | 411 |  |  | — |  |  | 3,691 |  |  | — |  |  | —
Construction |  |  | 3,125 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | —
Commercial – other |  |  | 199 |  |  | — |  |  | — |  |  | 63 |  |  | — |  |  | —
Consumer |  |  | 21 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | —
Total |  | $ | 396,054 |  | $ | 822 |  | $ | — |  | $ | 4,153 |  | $ | — |  | $ | —
|  | December 31, 2018
|  | Pass |  | Watch |  | Special Mention |  | Substandard |  | Doubtful |  | Loss
|  | (In thousands)
Single family |  | $ | 92,132 |  | $ | — |  | $ | 35 |  | $ | 10 |  | $ | — |  | $ | —
Multi-family |  |  | 232,642 |  |  | — |  |  | — |  |  | 667 |  |  | — |  |  | —
Commercial real estate |  |  | 5,800 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | —
Church |  |  | 19,678 |  |  | 672 |  |  | — |  |  | 4,746 |  |  | — |  |  | —
Construction |  |  | 1,872 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | —
Commercial – other |  |  | 162 |  |  | — |  |  | — |  |  | 64 |  |  | — |  |  | —
Consumer |  |  | 5 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | —
Total |  | $ | 352,291 |  | $ | 672 |  | $ | 35 |  | $ | 5,487 |  | $ | — |  | $ | —

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