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Loans (Tables)

9 Months Ended

Sep. 30, 2019

Receivables [Abstract]

Schedule of Components of Loans

Loans. The components of loans are as follows (in thousands):

		At September 30, 2019				At December 31, 2018
Residential real estate		$	26,683			$	27,204
Multi-family real estate			4,172				8,195
Commercial real estate			51,997				34,971
Land and construction			2,077				3,661
Commercial			4,674				4,997
Consumer			4,548				260
Total loans			94,151				79,288
Add (deduct):
Net deferred loan fees, costs and premiums			34				155
Allowance for loan losses			(2,104	)			(2,243	)
Loans, net		$	92,081			$	77,200

Schedule of Change in Allowance for Loan Losses

An analysis of the change in the allowance for loan losses follows (in thousands):

		Residential Real Estate				Multi-Family Real Estate				Commercial Real Estate				Land and Construction				Commercial				Consumer				Unallocated				Total
Three Months Ended September 30, 2019:
Beginning balance		$	537			$	41			$	658			$	7			$	558			$	11			$	241			$	2,053
(Credit) provision for loan losses			(5	)			—				87				7				32				165				(241	)			45
Charge-offs			—				—				—				—				—				—				—				—
Recoveries			—				—				—				6				—				—				—				6
Ending balance		$	532			$	41			$	745			$	20			$	590			$	176			$	—			$	2,104
Three Months Ended September 30, 2018:
Beginning balance		$	665			$	53			$	706			$	59			$	266			$	42			$	108			$	1,899
(Credit) provision for loan losses			(118	)			36				(208	)			(34	)			(4	)			(12	)			340				—
Charge-offs			—				—				—				—				—				—				—				—
Recoveries			—				—				—				6				—				—				—				6
Ending balance		$	547			$	89			$	498			$	31			$	262			$	30			$	448			$	1,905
Nine Months Ended September 30, 2019:
Beginning balance		$	544			$	88			$	545			$	37			$	850			$	25			$	154			$	2,243
(Credit) provision for loan losses			(12	)			(47	)			395				(35	)			(260	)			158				(154	)			45
Charge-offs			—				—				(195	)			—				—				(7	)			—				(202	)
Recoveries			—				—				—				18				—				—				—				18
Ending balance		$	532			$	41			$	745			$	20			$	590			$	176			$	—			$	2,104
Nine Months Ended September 30, 2018:
Beginning balance		$	641			$	59			$	725			$	56			$	55			$	86			$	2,369			$	3,991
(Credit) provision for loan losses			(94)				30				(227	)			(43	)			207				(52	)			(1,921	)			(2,100	)
Charge-offs			—				—				—				—				—				(12	)			—				(12	)
Recoveries			—				—				—				18				—				8				—				26
Ending balance		$	547			$	89			$	498			$	31			$	262			$	30			$	448			$	1,905

		Residential Real Estate				Multi- Family Real Estate				Commercial Real Estate				Land and Construction				Commercial				Consumer				Unallocated				Total
At September 30, 2019:
Individually evaluated for impairment:
Recorded investment		$	948			$	—			$	2,219			$	—			$	812			$	—			$	—			$	3,979
Balance in allowance for loan losses		$	262			$	—			$	—			$	—			$	556			$	—			$	—			$	818
Collectively evaluated for impairment:
Recorded investment		$	25,735			$	4,172			$	49,778			$	2,077			$	3,862			$	4,548			$	—			$	90,172
Balance in allowance for loan losses		$	270			$	41			$	745			$	20			$	34			$	176			$	—			$	1,286
At December 31, 2018:
Individually evaluated for impairment:
Recorded investment		$	954			$	—			$	3,861			$	—			$	1,928			$	—			$	—			$	6,743
Balance in allowance for loan losses		$	268			$	—			$	162			$	—			$	814			$	—			$	—			$	1,244
Collectively evaluated for impairment:
Recorded investment		$	26,250			$	8,195			$	31,110			$	3,661			$	3,069			$	260			$	—			$	72,545
Balance in allowance for loan losses		$	276			$	88			$	386			$	36			$	36			$	25			$	152			$	999

Schedule of Loans by Credit Quality

The following summarizes the loan credit quality (in thousands):

		Pass				OLEM (Other Loans Especially Mentioned)				Sub- standard				Doubtful				Loss				Total
At September 30, 2019:
Residential real estate		$	25,735			$	—			$	948			$	—			$	—			$	26,683
Multi-family real estate			4,172				—				—				—				—				4,172
Commercial real estate			49,334				444				2,219				—				—				51,997
Land and construction			823				1,254				—				—				—				2,077
Commercial			3,042				820				812				—				—				4,674
Consumer			4,548				—				—				—				—				4,548
Total		$	87,654			$	2,518			$	3,979			$	—			$	—			$	94,151
At December 31, 2018:
Residential real estate		$	26,250			$	—			$	954			$	—			$	—			$	27,204
Multi-family real estate			8,195				—				—				—				—				8,195
Commercial real estate			30,697				413				3,861				—				—				34,971
Land and construction			2,351				1,310				—				—				—				3,661
Commercial			2,362				707				1,928				—				—				4,997
Consumer			260				—				—				—				—				260
Total		$	70,115			$	2,430			$	6,743			$	—			$	—			$	79,288

Schedule of Age Analysis of Past-due Loans

Age analysis of past-due loans is as follows (in thousands):

		Accruing Loans
		30-59 Days Past Due				60-89 Days Past Due				Greater Than 90 Days Past Due				Total Past Due				Current				Nonaccrual Loans				Total Loans
At September 30, 2019:
Residential real estate		$	—			$	—			$	—			$	—			$	26,683			$	—			$	26,683
Multi-family real estate			—				—				—				—				4,172				—				4,172
Commercial real estate			—				—				—				—				51,997				—				51,997
Land and construction			—				—				—				—				2,077				—				2,077
Commercial			—				—				—				—				3,862				812				4,674
Consumer			—				—				—				—				4,548				—				4,548
Total		$	—			$	—			$	—			$	—			$	93,339			$	812			$	94,151

	Accruing Loans
		30-59 Days Past Due				60-89 Days Past Due				Greater Than 90 Days Past Due				Total Past Due				Current				Nonaccrual Loans				Total Loans
At December 31, 2018:
Residential real estate		$	—			$	—			$	—			$	—			$	27,204			$	—			$	27,204
Multi-family real estate			—				—				—				—				8,195				—				8,195
Commercial real estate			—				—				—				—				33,591				1,380				34,971
Land and construction			—				—				—				—				3,661				—				3,661
Commercial			—				—				—				—				4,997				—				4,997
Consumer			—				—				—				—				260				—				260
Total		$	—			$	—			$	—			$	—			$	77,908			$	1,380			$	79,288

Schedule of Impaired Loans

The following summarizes the amount of impaired loans (in thousands):

		At September 30, 2019												At December 31, 2018
		Recorded Investment				Unpaid Principal Balance				Related Allowance				Recorded Investment				Unpaid Principal Balance				Related Allowance
With no related allowance recorded:
Commercial real estate		$	2,219			$	2,219			$	—			$	2,259			$	2,259			$	—
Commercial			—				—				—				1,114				1,114				—
With related allowance recorded:
Residential real estate			948				948				262				954				954				268
Commercial real estate			—				—				—				1,602				1,602				162
Commercial			812				812				556				814				814				814
Total:
Residential real estate		$	948			$	948			$	262			$	954			$	954			$	268
Commercial real estate		$	2,219			$	2,219			$	—			$	3,861			$	3,861			$	162
Commercial		$	812			$	812			$	556			$	1,928			$	1,928			$	814
Total		$	3,979			$	3,979			$	818			$	6,743			$	6,743			$	1,244

Schedule of Interest Income Recognized and Received on Impaired Loans

TDRs during the three and nine months ended September 30, 2019.

		Three Months Ended September 30,
		2019																2018
						Pre-				Post-				Current								Pre-				Post-				Current
						Modification				Modification				Modification								Modification				Modification				Modification
		Number				Outstanding				Outstanding				Outstanding				Number				Outstanding				Outstanding				Outstanding
		of				Recorded				Recorded				Recorded				of				Recorded				Recorded				Recorded
		Contracts				Investment				Investment				Investment				Contracts				Investment				Investment				Investment
( dollars in thousands)
Troubled Debt Restructurings -
Modified principal
Commercial real estate			-			$	-			$	-			$	-				-			$	-			$	-			$	-
Residential and home equity			-				-				-				-				-				-				-				-
Commercial			2				812				812				812				-				-				-				-
Total			2			$	812			$	812			$	812				-			$	-			$	-			$	-

		Nine Months Ended September 30,
		2019																2018
						Pre-				Post-				Current								Pre-				Post-				Current
						Modification				Modification				Modification								Modification				Modification				Modification
		Number				Outstanding				Outstanding				Outstanding				Number				Outstanding				Outstanding				Outstanding
		of				Recorded				Recorded				Recorded				of				Recorded				Recorded				Recorded
		Contracts				Investment				Investment				Investment				Contracts				Investment				Investment				Investment
( dollars in thousands)
Troubled Debt Restructurings -
Modified principal
Commercial real estate			-			$	-			$	-			$	-				-			$	-			$	-			$	-
Residential and home equity			-				-				-				-				-				-				-				-
Commercial			2				812				812				812				-				-				-				-
Total			2			$	812			$	812			$	812				-			$	-			$	-			$	-

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Tabular disclosure of allowance for credit loss on financing receivable.

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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

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