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Loans Receivable Held for Investment (Tables) | 3 Months Ended
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Mar. 31, 2020
Loans Receivable Held for Investment |
Schedule of loans receivable held for investment |
|  | March 31, 2020 |  | December 31, 2019
|  | (In thousands)
Real estate: |  |  |  |  |  |
Single family |  | $ | 64,094 |  | $ | 72,883
Multi-family |  |  | 283,629 |  |  | 287,378
Commercial real estate |  |  | 14,653 |  |  | 14,728
Church |  |  | 19,907 |  |  | 21,301
Construction |  |  | 717 |  |  | 3,128
Commercial – other |  |  | 268 |  |  | 262
Consumer |  |  | 24 |  |  | 21
Gross loans receivable before deferred loan costs and premiums |  |  | 383,292 |  |  | 399,701
Unamortized net deferred loan costs and premiums |  |  | 1,253 |  |  | 1,328
Gross loans receivable |  |  | 384,545 |  |  | 401,029
Allowance for loan losses |  |  | (3,211) |  |  | (3,182)
Loans receivable, net |  | $ | 381,334 |  | $ | 397,847
Schedule of activity in the allowance for loan losses by loan type |
|  | Three Months Ended March 31, 2020
|  | Real Estate |  |  |  |  |  |
|  | Single |  | Multi- |  | Commercial |  |  |  |  |  | Commercial |  |  |  |
|  | family |  | family |  | real estate |  | Church |  | Construction |  | - other |  | Consumer |  | Total
|  | (In thousands)
Beginning balance |  | $ | 312 |  | $ | 2,319 |  | $ | 133 |  | $ | 362 |  | $ | 48 |  | $ | 7 |  | $ | 1 |  | $ | 3,182
Provision for (recapture of) loan losses |  |  | (4) |  |  | 89 |  |  | 7 |  |  | (39) |  |  | (24) |  |  | — |  |  | — |  |  | 29
Recoveries |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | —
Loans charged off |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | —
Ending balance |  | $ | 308 |  | $ | 2,408 |  | $ | 140 |  | $ | 323 |  | $ | 24 |  | $ | 7 |  | $ | 1 |  | $ | 3,211
|  | Three Months Ended March 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 |  |  | (22) |  |  | 110 |  |  | 10 |  |  | (286) |  |  | (1) |  |  | (1) |  |  | — |  |  | (190)
Recoveries |  |  | — |  |  | — |  |  | — |  |  | 190 |  |  | — |  |  | — |  |  | — |  |  | 190
Loans charged off |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | —
Ending balance |  | $ | 347 |  | $ | 1,990 |  | $ | 62 |  | $ | 507 |  | $ | 18 |  | $ | 5 |  | $ | — |  | $ | 2,929
Schedule of allowance for loan losses and recorded investment in loans by type of loans and based on impairment method |
|  | March 31, 2020
|  | 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 |  | $ | 73 |  | $ | — |  | $ | — |  | $ | 74 |  | $ | — |  | $ | 2 |  | $ | — |  | $ | 149
Collectively evaluated for impairment |  |  | 235 |  |  | 2,408 |  |  | 140 |  |  | 249 |  |  | 24 |  |  | 5 |  |  | 1 |  |  | 3,062
Total ending allowance balance |  | $ | 308 |  | $ | 2,408 |  | $ | 140 |  | $ | 323 |  | $ | 24 |  | $ | 7 |  | $ | 1 |  | $ | 3,211
Loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Loans individually evaluated for impairment |  | $ | 602 |  | $ | 310 |  | $ | — |  | $ | 4,178 |  | $ | — |  | $ | 62 |  | $ | — |  | $ | 5,152
Loans collectively evaluated for impairment |  |  | 63,684 |  |  | 284,929 |  |  | 14,742 |  |  | 15,091 |  |  | 717 |  |  | 206 |  |  | 24 |  |  | 379,393
Total ending loans balance |  | $ | 64,286 |  | $ | 285,239 |  | $ | 14,742 |  | $ | 19,269 |  | $ | 717 |  | $ | 268 |  | $ | 24 |  | $ | 384,545
|  | 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
Schedule of loans individually evaluated for impairment by loan type |
|  | March 31, 2020 |  | December 31, 2019 |
|  |  |  |  |  | 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: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Single family |  | $ | 14 |  | $ | 14 |  | $ | — |  | $ | — |  | $ | — |  | $ | — |
Multi-family |  |  | 310 |  |  | 310 |  |  | — |  |  | 313 |  |  | 313 |  |  | — |
Church |  |  | 2,913 |  |  | 2,283 |  |  | — |  |  | 3,491 |  |  | 2,446 |  |  | — |
With an allowance recorded: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Single family |  |  | 588 |  |  | 588 |  |  | 73 |  |  | 593 |  |  | 593 |  |  | 60 |
Church |  |  | 1,895 |  |  | 1,895 |  |  | 74 |  |  | 1,928 |  |  | 1,928 |  |  | 85 |
Commercial - other |  |  | 62 |  |  | 62 |  |  | 2 |  |  | 63 |  |  | 63 |  |  | 2 |
Total |  | $ | 5,782 |  | $ | 5,152 |  | $ | 149 |  | $ | 6,388 |  | $ | 5,343 |  | $ | 147 |
Schedule of average of loans individually evaluated for impairment by loan type and related interest income |
|  | Three Months Ended March 31, 2020 |  | Three Months Ended March 31, 2019
|  |  |  | Cash Basis |  |  |  | Cash Basis
|  | Average |  | Interest |  | Average |  | Interest
|  | Recorded |  | Income |  | Recorded |  | Income
|  | Investment |  | Recognized |  | Investment |  | Recognized
|  | (In thousands)
Single family |  | $ | 608 |  | $ | 7 |  | $ | 608 |  | $ | 8
Multi-family |  |  | 311 |  |  | 5 |  |  | 322 |  |  | 6
Church |  |  | 4,296 |  |  | 236 |  |  | 5,001 |  |  | 430
Commercial – other |  |  | 62 |  |  | 1 |  |  | 64 |  |  | 1
Total |  | $ | 5,277 |  | $ | 249 |  | $ | 5,995 |  | $ | 445
Schedule of aging of the recorded investment in past due loans by loan type |
|  | March 31, 2020
|  |  |  |  |  | Greater |  |  |  |  |  |
|  | 30-59 |  | 60-89 |  | 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 |  | $ | 14 |  | $ | — |  | $ | — |  | $ | 14 |  | $ | 64,272 |  | $ | 64,286
Multi-family |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 285,239 |  |  | 285,239
Commercial real estate |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 14,742 |  |  | 14,742
Church |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 19,269 |  |  | 19,269
Construction |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 717 |  |  | 717
Commercial - other |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 268 |  |  | 268
Consumer |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 24 |  |  | 24
Total |  | $ | 14 |  | $ | — |  | $ | — |  | $ | 14 |  | $ | 384,531 |  | $ | 384,545
|  | December 31, 2019
|  |  |  |  |  | Greater |  |  |  |  |  |
|  | 30-59 |  | 60-89 |  | 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
Schedule of recorded investment in non-accrual loans by loan type |
|  | March 31, 2020 |  | December 31, 2019
|  | (In thousands)
Loans receivable held for investment: |  |  |  |  |  |
Single-family residence |  | $ | 14 |  | $ | 18
Church |  |  | 266 |  |  | 406
Total non-accrual loans |  | $ | 280 |  | $ | 424
Schedule of risk categories of loans by loan type |
|  | March 31, 2020
|  | Pass |  | Watch |  | Special Mention |  | Substandard |  | Doubtful |  | Loss
|  | (In thousands)
Single family |  | $ | 64,272 |  | $ | — |  | $ | — |  | $ | 14 |  | $ | — |  | $ | —
Multi-family |  |  | 284,456 |  |  | 406 |  |  | — |  |  | 377 |  |  | — |  |  | —
Commercial real estate |  |  | 14,742 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | —
Church |  |  | 15,330 |  |  | 1,080 |  |  | — |  |  | 2,859 |  |  | — |  |  | —
Construction |  |  | 717 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | —
Commercial - other |  |  | 206 |  |  | — |  |  | — |  |  | 62 |  |  | — |  |  | —
Consumer |  |  | 24 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | —
Total |  | $ | 379,747 |  | $ | 1,486 |  | $ | — |  | $ | 3,312 |  | $ | — |  | $ | —
|  | 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 |  | $ | — |  | $ | —

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