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Loans Receivable Held for Investment (Tables)

6 Months Ended

Jun. 30, 2020

Loans Receivable Held for Investment

Schedule of loans receivable held for investment


		June 30, 2020			December 31, 2019
		(In thousands)
Real estate:
Single family		$	58,826		$	72,883
Multi-family			277,758			287,378
Commercial real estate			18,672			14,728
Church			19,489			21,301
Construction			1,409			3,128
Commercial – other			277			262
Consumer			10			21
Gross loans receivable before deferred loan costs and premiums			376,441			399,701
Unamortized net deferred loan costs and premiums			1,191			1,328
Gross loans receivable			377,632			401,029
Allowance for loan losses			(3,215)			(3,182)
Loans receivable, net		$	374,417		$	397,847

Schedule of activity in the allowance for loan losses by loan type


		Three Months Ended June 30, 2020
		Real Estate
		Single			Multi-			Commercial									Commercial
		family			family			real estate			Church			Construction			- other			Consumer			Total
		(In thousands)
Beginning balance		$	308		$	2,408		$	140		$	323		$	24		$	7		$	1		$	3,211
Provision for (recapture of) loan losses			—			16			29			(41)			(2)			(1)			(1)			—
Recoveries			4			—			—			—			—			—			—			4
Loans charged off			—			—			—			—			—			—			—			—
Ending balance		$	312		$	2,424		$	169		$	282		$	22		$	6		$	—		$	3,215


		Three Months Ended June 30, 2019
		Real Estate
		Single			Multi-			Commercial									Commercial
		family			family			real estate			Church			Construction			- other			Consumer			Total
		(In thousands)
Beginning balance		$	347		$	1,990		$	62		$	507		$	18		$	5		$	—		$	2,929
Provision for (recapture of) loan losses			(19)			(58)			(4)			(106)			26			—			3			(158)
Recoveries			—			—			—			—			—			—			—			—
Loans charged off			—			—			—			—			—			—			—			—
Ending balance		$	328		$	1,932		$	58		$	401		$	44		$	5		$	3		$	2,771


		Six Months Ended June 30, 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)			105			36			(80)			(26)			(1)			(1)			29
Recoveries			4			—			—			—			—			—			—			4
Loans charged off			—			—			—			—			—			—			—			—
Ending balance		$	312		$	2,424		$	169		$	282		$	22		$	6		$	—		$	3,215


		Six Months Ended June 30, 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			(41)			52			6			(392)			25			(1)			3			(348)
Recoveries			—			—			—			190			—			—			—			190
Loans charged off			—			—			—			—			—			—			—			—
Ending balance		$	328		$	1,932		$	58		$	401		$	44		$	5		$	3		$	2,771

Schedule of allowance for loan losses and recorded investment in loans by type of loans and based on impairment method


		June 30, 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		$	71		$	—		$	—		$	72		$	—		$	1		$	—		$	144
Collectively evaluated for impairment			241			2,424			169			210			22			5			—			3,071
Total ending allowance balance		$	312		$	2,424		$	169		$	282		$	22		$	6		$	—		$	3,215

Loans:
Loans individually evaluated for impairment		$	592		$	307		$	—		$	4,135		$	—		$	50		$	—		$	5,084
Loans collectively evaluated for impairment			58,409			279,017			18,742			14,733			1,409			228			10			372,548
Total ending loans balance		$	59,001		$	279,324		$	18,742		$	18,868		$	1,409		$	278		$	10		$	377,632


		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


		June 30, 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		$	10		$	9		$	—		$	—		$	—		$	—
Multi-family		$	307		$	307		$	—			313			313			—
Church		$	3,048		$	2,259		$	—			3,491			2,446			—
With an allowance recorded:
Single family			583			583			71			593			593			60
Church			1,876			1,876			72			1,928			1,928			85
Commercial - other			50			50			1			63			63			2
Total		$	5,874		$	5,084		$	144		$	6,388		$	5,343		$	147

Schedule of average of loans individually evaluated for impairment by loan type and related interest income


		Three Months Ended June 30, 2020						Three Months Ended June 30, 2019
					Cash Basis						Cash Basis
		Average			Interest			Average			Interest
		Recorded			Income			Recorded			Income
		Investment			Recognized			Investment			Recognized
		(In thousands)
Single family		$	597		$	7		$	638		$	5
Multi-family			308			5			320			5
Church			4,160			74			4,741			402
Commercial – other			59			1			63			—
Total		$	5,124		$	87		$	5,762		$	412


		Six Months Ended June 30, 2020						Six Months Ended June 30, 2019
					Cash Basis						Cash Basis
		Average			Interest			Average			Interest
		Recorded			Income			Recorded			Income
		Investment			Recognized			Investment			Recognized
		(In thousands)
Single family		$	599		$	14		$	640		$	15
Multi-family			309			11			321			11
Church			4,190			309			5,383			517
Commercial – other			60			2			64			2
Total		$	5,158		$	336		$	6,408		$	545

Schedule of aging of the recorded investment in past due loans by loan type


		June 30, 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		$	—		$	—		$	—		$	—		$	59,001		$	59,001
Multi-family			—			—			—			—			279,324			279,324
Commercial real estate			—			—			—			—			18,742			18,742
Church			—			—			—			—			18,868			18,868
Construction			—			—			—			—			1,409			1,409
Commercial - other			—			—			—			—			278			278
Consumer			—			—			—			—			10			10
Total		$	—		$	—		$	—		$	—		$	377,632		$	377,632


		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


		June 30, 2020			December 31, 2019
		(In thousands)
Loans receivable held for investment:
Single-family residence		$	9		$	18
Church		$	837			406
Total non-accrual loans		$	846		$	424

Schedule of risk categories of loans by loan type


		June 30, 2020
		Pass			Watch			Special Mention			Substandard			Doubtful			Loss
		(In thousands)
Single family		$	58,992		$	—		$	—		$	9		$	—		$	—
Multi-family			278,551			401			—			372			—			—
Commercial real estate			17,242			1,500			—			—			—			—
Church			14,741			1,302			—			2,825			—			—
Construction			1,409			—			—			—			—			—
Commercial - other			228			—			—			50			—			—
Consumer			10			—			—			—			—			—
Total		$	371,173		$	3,203		$	—		$	3,256		$	—		$	—


		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		$	—		$	—