XML 52 R14.htm IDEA: XBRL DOCUMENT
v3.2.0.727

Loan Receivable and Allowance for Loan and Lease Losses | 3 Months Ended
--- | ---
Jun. 30, 2015
LOANS RECEIVABLE AND ALLOWANCE FOR LOAN AND LEASE LOSSES [Abstract] |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | LOANS RECEIVABLE AND ALLOWANCE FOR LOAN AND LEASE LOSSES The loans receivable portfolio is segmented into one-to-four family, multifamily, commercial real estate, construction, business (including Small Business Administration loans), and consumer loans. The allowance for loan and lease losses ("ALLL") reflects management’s judgment in the evaluation of probable loan losses inherent in the portfolio at the balance sheet date. Management uses a disciplined process and methodology to calculate the ALLL each quarter. To determine the total ALLL, management estimates the reserves needed for each segment of the loan portfolio, including loans analyzed individually and loans analyzed on a pooled basis. From time to time, events or economic factors may affect the loan portfolio, causing management to provide additional amounts or release balances from the ALLL. The ALLL is sensitive to risk ratings assigned to individually evaluated loans and economic assumptions and delinquency trends. Individual loan risk ratings are evaluated based on the specific facts related to that loan. Additions to the ALLL are made by charges to the provision for loan losses. Credit exposures deemed to be uncollectible are charged against the ALLL, while recoveries of previously charged off amounts are credited to the ALLL. The following is a summary of loans receivable, net of allowance for loan losses, and loans held-for-sale at June 30, 2015 and March 31, 2015:
|  | June 30, 2015 |  | March 31, 2015
$ in thousands |  | Amount |  | Percent |  | Amount |  | Percent
Gross loans receivable: |  |  |  |  |  |  |  |
One-to-four family |  | $ | 119,799 |  |  | 24 | % |  | $ | 125,020 |  |  | 26 | %
Multifamily |  | 96,458 |  |  | 20 | % |  | 93,780 |  |  | 19 | %
Commercial real estate |  | 196,003 |  |  | 40 | % |  | 186,443 |  |  | 39 | %
Construction |  | 5,096 |  |  | 1 | % |  | 5,107 |  |  | 1 | %
Business |  | 72,831 |  |  | 15 | % |  | 70,679 |  |  | 15 | %
Consumer (1) |  | 103 |  |  | — | % |  | 434 |  |  | — | %
Total loans receivable |  | $ | 490,290 |  |  | 100 | % |  | $ | 481,463 |  |  | 100 | %
Add: |  |  |  |  |  |  |  |
Premium on loans |  | 2,089 |  |  |  |  | 2,233 |  |  |
Less: |  |  |  |  |  |  |  |
Deferred fees and loan discounts,net |  | (489 | ) |  |  |  | (503 | ) |  |
Allowance for loan losses |  | (4,107 | ) |  |  |  | (4,477 | ) |  |
Total loans receivable, net |  | $ | 487,783 |  |  |  |  | $ | 478,716 |  |  |
Loans HFS |  | $ | 2,576 |  |  |  |  | $ | 2,576 |  |  |
(1) Includes personal loans The following is an analysis of the allowance for loan losses based upon the method of evaluating loan impairment for the three month periods ended June 30, 2015 and 2014, and the fiscal year ended March 31, 2015.
Three months ended June 30, 2015 |  |  |  |  |  |  |  |  |  |  |  |
$ in thousands |  | One-to-four family |  | Multifamily |  | Commercial Real Estate |  | Construction |  | Business |  | Consumer |  | Total
Allowance for loan losses: |  |  |  |  |  |  |  |  |  |  |  |
Beginning Balance |  | $ | 1,989 |  |  | $ | 534 |  |  | $ | 1,029 |  |  | 99 |  |  | $ | 813 |  |  | $ | 13 |  |  | $ | 4,477 |
Charge-offs |  | 230 |  |  | 238 |  |  | — |  |  | — |  |  | 112 |  |  | 1 |  |  | 581 |
Recoveries |  | — |  |  | — |  |  | — |  |  | — |  |  | 93 |  |  | 1 |  |  | 94 |
Provision for (Recovery of) Loan Losses |  | (100 | ) |  | 229 |  |  | 3 |  |  | — |  |  | (3 | ) |  | (12 | ) |  | 117 |
Ending Balance |  | $ | 1,659 |  |  | $ | 525 |  |  | $ | 1,032 |  |  | $ | 99 |  |  | $ | 791 |  |  | $ | 1 |  |  | $ | 4,107 |
Allowance for Loan Losses Ending Balance: collectively evaluated for impairment |  | 1,557 |  |  | 525 |  |  | 949 |  |  | 99 |  |  | 788 |  |  | 1 |  |  | 3,919 |
Allowance for Loan Losses Ending Balance: individually evaluated for impairment |  | 102 |  |  | — |  |  | 83 |  |  | — |  | 3 |  |  | — |  |  | 188 |
Loan Receivables Ending Balance: |  | $ | 121,165 |  |  | $ | 97,366 |  |  | $ | 195,408 |  |  | $ | 5,065 |  |  | $ | 72,783 |  |  | $ | 103 |  |  | $ | 491,890 |
Ending Balance: collectively evaluated for impairment |  | 113,822 |  |  | 96,119 |  |  | 192,806 |  |  | 5,065 |  |  | 67,001 |  |  | 103 |  |  | 474,916 |
Ending Balance: individually evaluated for impairment |  | 7,343 |  |  | 1,247 |  |  | 2,602 |  |  | — |  |  | 5,782 |  |  | — |  |  | 16,974 |
Fiscal year ended March 31, 2015 |  |  |  |  |  |  |  |  |  |  |  |  |  |
$ in thousands |  | One-to-four family |  | Multifamily |  | Commercial Real Estate |  | Construction |  | Business |  | Consumer |  | Total
Allowance for loan losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning Balance |  | $ | 3,377 |  |  | $ | 308 |  |  | $ | 1,835 |  |  | $ | — |  |  | $ | 1,705 |  |  | $ | 8 |  |  | $ | 7,233 |
Charge-offs |  | 687 |  |  | — |  |  | — |  |  | — |  |  | 320 |  |  | 279 |  |  | 1,286 |
Recoveries |  | 380 |  |  | 83 |  |  | 256 |  |  | — |  |  | 816 |  |  | 5 |  |  | 1,540 |
Provision for (Recovery of) Loan Losses |  | (1,081 | ) |  | 143 |  |  | (1,062 | ) |  | 99 |  |  | (1,388 | ) |  | 279 |  |  | (3,010 | )
Ending Balance |  | $ | 1,989 |  |  | $ | 534 |  |  | $ | 1,029 |  |  | $ | 99 |  |  | $ | 813 |  |  | $ | 13 |  |  | $ | 4,477 |
Allowance for Loan Losses Ending Balance: collectively evaluated for impairment |  | 1,702 |  |  | 353 |  |  | 953 |  |  | 99 |  |  | 801 |  |  | 13 |  |  | 3,921 |
Allowance for Loan Losses Ending Balance: individually evaluated for impairment |  | 287 |  |  | 181 |  |  | 76 |  |  | — |  |  | 12 |  |  | — |  |  | 556 |
Loan Receivables Ending Balance: |  | $ | 126,527 |  |  | $ | 94,706 |  |  | $ | 185,851 |  |  | $ | 5,076 |  |  | $ | 70,599 |  |  | $ | 434 |  |  | 483,193 |
Ending Balance: collectively evaluated for impairment |  | 119,480 |  |  | 93,218 |  |  | 183,230 |  |  | 5,076 |  |  | 65,243 |  |  | 434 |  |  | 466,681 |
Ending Balance: individually evaluated for impairment |  | 7,047 |  |  | 1,488 |  |  | 2,621 |  |  | — |  |  | 5,356 |  |  | — |  |  | 16,512 |
Three months ended June 30, 2014 |  |  |  |  |  |  |  |  |  |
|  | One-to-four family |  | Multifamily |  | Commercial Real Estate |  | Construction |  | Business |  | Consumer |  | Total
Allowance for loan losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning Balance |  | $ | 3,377 |  |  | $ | 308 |  |  | $ | 1,835 |  |  | $ | — |  |  | $ | 1,705 |  |  | $ | 8 |  |  | $ | 7,233 |
Charge-offs |  | 83 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 83 |
Recoveries |  | 354 |  |  | 8 |  |  | 201 |  |  | — |  |  | 133 |  |  | 1 |  |  | 697 |
Provision for (Recovery of) Loan Losses |  | 275 |  |  | 20 |  |  | (1,223 | ) |  | 201 |  |  | (58 | ) |  | 4 |  |  | (781 | )
Ending Balance |  | $ | 3,923 |  |  | $ | 336 |  |  | $ | 813 |  |  | $ | 201 |  |  | $ | 1,780 |  |  | $ | 13 |  |  | $ | 7,066 |
The following is a summary of nonaccrual loans at June 30, 2015 and March 31, 2015.
$ in thousands | June 30, 2015 |  | March 31, 2015
Gross loans receivable: |  |  |
One-to-four family | $ | 3,654 |  |  | $ | 3,664 |
Multifamily | 1,247 |  |  | 1,053 |
Commercial real estate | 1,784 |  |  | 2,817 |
Business | 1,883 |  |  | 861 |
Total nonaccrual loans | $ | 8,568 |  |  | $ | 8,395 |
Nonaccrual loans increased $173 thousand, or 2.1%, to $8.6 million at June 30, 2015 from $8.4 million at March 31, 2015. Non-performing loans at June 30, 2015, were comprised of $5.1 million of loans 90 days or more past due and non-accruing, $0.5 million of impaired loans and $3.0 million of loans classified as a troubled debt restructuring which had either not consistently performed in accordance with their modified terms or were not performing in accordance with their modified terms for at least six months. Non-performing loans at March 31, 2015, were comprised of $5.9 million of loans 90 days or more past due and non-accruing, and included $3.6 million of loans classified as a troubled debt restructuring which had either not consistently performed in accordance with their modified terms or were not performing in accordance with their modified terms for at least six months. At June 30, 2015, other non-performing assets totaled $6.3 million which consisted of other real estate owned and held-for-sale loans. At June 30, 2015, other real estate owned valued at $3.7 million comprised of eight foreclosed properties, compared to $4.3 million comprised of ten properties at March 31, 2015. At June 30, 2015, held-for-sale loans remained unchanged at $2.6 million, compared to March 31, 2015. The Bank utilizes an internal loan classification system as a means of reporting problem loans within its loan categories. Loans may be classified as "Pass," “Special Mention,” “Substandard,” “Doubtful,” and “Loss.” Loans rated Pass have demonstrated satisfactory asset quality, earning history, liquidity, and other adequate margins of creditor protection. They represent a moderate credit risk and some degree of financial stability. Loans are considered collectible in full, but perhaps require greater than average amount of loan officer attention. Borrowers are capable of absorbing normal setbacks without failure. Loans rated Special Mention have potential weaknesses that deserve management's close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the asset or in the Bank's credit position at some future date. Loans rated Substandard are inadequately protected by the current sound worth and paying capacity of the obligor or of the collateral pledged, if any. Assets so classified must have a well-defined weakness, or weaknesses, that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the Bank will sustain some loss if the deficiencies are not corrected. Loans rated Doubtful have all the weaknesses inherent in those classified Substandard with the added characteristic that the weaknesses present make collection or liquidation in full, based on currently existing facts, conditions and values, highly questionable and improbable. Loans classified as Loss are those considered uncollectible with insignificant value and are charged off immediately to the allowance for loan losses. One-to-four family residential loans and consumer and other loans are rated non-performing if they are delinquent in payments ninety or more days, a troubled debt restructuring with less than six months contractual performance or past maturity. All other one-to-four family residential loans and consumer and other loans are performing loans. As of June 30, 2015, the risk category by class of loans is as follows:
$ in thousands |  | Multifamily |  | Commercial Real Estate |  | Construction |  | Business
Credit Risk Profile by Internally Assigned Grade: |  |  |  |  |  |  |  |
Pass |  | $ | 96,119 |  |  | $ | 190,574 |  |  | $ | 5,065 |  |  | $ | 64,933 |
Special Mention |  | — |  |  | 2,232 |  |  | — |  |  | 1,056 |
Substandard |  | 1,247 |  |  | 2,602 |  |  | — |  |  | 6,794 |
Doubtful |  | — |  |  | — |  |  | — |  |  | — |
Loss |  | — |  |  | — |  |  | — |  |  | — |
Total |  | $ | 97,366 |  |  | $ | 195,408 |  |  | $ | 5,065 |  |  | $ | 72,783 |
|  |  |  |  |  | One-to-four family |  | Consumer
Credit Risk Profile Based on Payment Activity: |  |  |  |  |  |  |  |
Performing |  |  |  |  |  | $ | 117,511 |  |  | $ | 103 |
Non-Performing |  |  |  |  |  | 3,654 |  |  | — |
Total |  |  |  |  |  | $ | 121,165 |  |  | $ | 103 |
As of March 31, 2015, and based on the most recent analysis performed, the risk category by class of loans is as follows:
$ in thousands |  | Multifamily |  | Commercial Real Estate |  | Construction |  | Business
Credit Risk Profile by Internally Assigned Grade: |  |  |  |  |  |  |  |
Pass |  | $ | 93,218 |  |  | $ | 181,340 |  |  | $ | 5,076 |  |  | $ | 62,419 |
Special Mention |  | — |  |  | 1,890 |  |  | — |  |  | 1,065 |
Substandard |  | 1,488 |  |  | 2,621 |  |  | — |  |  | 7,115 |
Doubtful |  | — |  |  | — |  |  | — |  |  | — |
Loss |  | — |  |  | — |  |  | — |  |  | — |
Total |  | $ | 94,706 |  |  | $ | 185,851 |  |  | $ | 5,076 |  |  | $ | 70,599 |
|  |  |  |  |  | One-to-four family |  | Consumer
Credit Risk Profile Based on Payment Activity: |  |  |  |  |  |  |  |
Performing |  |  |  |  |  | $ | 122,689 |  |  | $ | 434 |
Non-Performing |  |  |  |  |  | 3,838 |  |  | — |
Total |  |  |  |  |  | $ | 126,527 |  |  | $ | 434 |
The following table presents an aging analysis of the recorded investment of past due financing receivable as of June 30, 2015 and March 31, 2015.
June 30, 2015 |  |  |  |  |  |  |  |  |  |  |  |
$ in thousands |  | 30-59 Days Past Due |  | 60-89 Days Past Due |  | 90 or More Days Past Due |  | Total Past Due |  | Current |  | Total Financing Receivables
One-to-four family |  | $ | 390 |  |  | $ | — |  |  | $ | 3,333 |  |  | $ | 3,723 |  |  | $ | 117,442 |  |  | $ | 121,165 |
Multifamily |  | — |  |  | 428 |  |  | 819 |  |  | 1,247 |  |  | 96,119 |  |  | 97,366 |
Commercial real estate |  | 2,351 |  |  | — |  |  | 813 |  |  | 3,164 |  |  | 192,244 |  |  | 195,408 |
Construction |  | — |  |  | — |  |  | — |  |  | — |  |  | 5,065 |  |  | 5,065 |
Business |  | — |  |  | — |  |  | 1,883 |  |  | 1,883 |  |  | 70,900 |  |  | 72,783 |
Consumer |  | — |  |  | — |  |  | — |  |  | — |  |  | 103 |  |  | 103 |
Total |  | $ | 2,741 |  |  | $ | 428 |  |  | $ | 6,848 |  |  | $ | 10,017 |  |  | $ | 481,873 |  |  | $ | 491,890 |
March 31, 2015 |  |  |  |  |  |  |  |  |  |  |  |
$ in thousands |  | 30-59 Days Past Due |  | 60-89 Days Past Due |  | Greater Than 90 Days |  | Total Past Due |  | Current |  | Total Financing Receivables
One-to-four family |  | $ | 464 |  |  | $ | — |  |  | $ | 3,574 |  |  | $ | 4,038 |  |  | $ | 122,489 |  |  | 126,527 |
Multifamily |  | — |  |  | 434 |  |  | 1,054 |  |  | 1,488 |  |  | 93,218 |  |  | 94,706 |
Commercial real estate |  | 1,150 |  |  | 936 |  |  | 1,102 |  |  | 3,188 |  |  | 182,663 |  |  | 185,851 |
Construction |  | — |  |  | — |  |  | — |  |  | — |  |  | 5,076 |  |  | 5,076 |
Business |  | — |  |  | — |  |  | 123 |  |  | 123 |  |  | 70,476 |  |  | 70,599 |
Consumer |  | — |  |  | 1 |  |  | — |  |  | 1 |  |  | 433 |  |  | 434 |
Total |  | $ | 1,614 |  |  | $ | 1,371 |  |  | $ | 5,853 |  |  | $ | 8,838 |  |  | $ | 474,355 |  |  | $ | 483,193 |
The following table presents information on impaired loans with the associated allowance amount, if applicable, at June 30, 2015 and March 31, 2015.
|  | At June 30, 2015 |  | At March 31, 2015
$ in thousands |  | Recorded Investment |  | Unpaid Principal Balance |  | Associated Allowance |  | Recorded Investment |  | Unpaid Principal Balance |  | Associated Allowance
With no specific allowance recorded: |  |  |  |  |  |  |  |  |  |  |  |
One-to-four family |  | $ | 5,176 |  |  | $ | 6,357 |  |  | $ | — |  |  | $ | 2,752 |  |  | $ | 3,007 |  |  | — |
Multifamily |  | 1,247 |  |  | 1,583 |  |  | — |  |  | 237 |  |  | 237 |  |  | — |
Commercial real estate |  | 1,866 |  |  | 2,036 |  |  | — |  |  | 1,880 |  |  | 1,880 |  |  | — |
Business |  | 5,271 |  |  | 5,271 |  |  | — |  |  | 4,568 |  |  | 4,652 |  |  | — |
Consumer |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
With an allowance recorded: |  |  |  |  |  |  |  |  |  |  |  |
One-to-four family |  | 2,167 |  |  | 2,239 |  |  | 102 |  |  | 4,295 |  |  | 4,541 |  |  | 286 |
Multifamily |  | — |  |  | — |  |  | — |  |  | 1,251 |  |  | 1,349 |  |  | 181 |
Commercial real estate |  | 736 |  |  | 736 |  |  | 83 |  |  | 741 |  |  | 741 |  |  | 76 |
Business |  | 511 |  |  | 595 |  |  | 3 |  |  | 788 |  |  | 788 |  |  | 13 |
Consumer and other |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total |  | $ | 16,974 |  |  | $ | 18,817 |  |  | $ | 188 |  |  | $ | 16,512 |  |  | $ | 17,195 |  |  | $ | 556 |
The following tables presents information on average balances on impaired loans and the interest income recognized on a cash basis for the three month period ended June 30, 2015 and 2014.
|  | For the Three Months Ended June 30, |
|  | 2015 |  | 2014 |
$ in thousands |  | Average Balance |  | Interest Income Recognized |  | Average Balance |  | Interest Income Recognized |
With no specific allowance recorded: |  |  |  |  |  |  |  |  |
One-to-four family |  | $ | 5,275 |  |  | $ | 3 |  |  | $ | 729 |  |  | $ | 7 |  |
Multifamily |  | 1,406 |  |  | — |  |  | — |  |  | — |  |
Commercial real estate |  | 1,869 |  |  | — |  |  | 2,124 |  |  | 61 |  |
Construction |  | — |  |  | — |  |  | — |  |  | — |  |
Business |  | 5,294 |  |  | 9 |  |  | 1,022 |  |  | 64 |  |
Consumer and other |  | — |  |  | — |  |  | — |  |  | — |  |
With an allowance recorded: |  |  |  |  |  |  |  |  |
One-to-four family |  | 2,209 |  |  | $ | 2 |  |  | 6,089 |  |  | 31 |  |
Multifamily |  | — |  |  | — |  |  | 1,437 |  |  | 9 |  |
Commercial real estate |  | 739 |  |  | — |  |  | 2,215 |  |  | 20 |  |
Business |  | 511 |  |  | — |  |  | 3,413 |  |  | 55 |  |
Consumer and other |  | — |  |  | — |  |  | 5 |  |  | — |  |
Total |  | $ | 17,303 |  |  | $ | 14 |  |  | $ | 17,034 |  |  | $ | 247 |  |
In certain circumstances, the Bank will modify a loan as part of a troubled debt restructure ("TDR") under ASC Subtopic 310-40 and the related allowance under ASC Subtopic 310-10-35. Situations around these modifications may include extension of maturity date, reduction in the stated interest rate, rescheduling of future cash flows, reduction in the face amount of the debt or reduction of past accrued interest. Loans modified in TDRs are placed on nonaccrual status until the Company determines that future collection of principal and interest is reasonably assured, which generally requires that the borrower demonstrate performance according to the restructured terms for a period of at least six months. There were no TDR modifications made during the three month period ended June 30, 2015 and 2014. In an effort to proactively resolve delinquent loans, Carver has selectively extended to certain borrowers concessions such as extensions, rate reductions or forbearance agreements. For the periods ended June 30, 2015 and 2014, there were no modified loans that subsequently defaulted within the last 12 months. At June 30, 2015, there were 12 loans in the TDR portfolio totaling $5.2 million that were on accrual status as the Company has determined that future collection of the principal and interest is reasonably assured. These have generally performed according to restructured terms for a period of at least six months. At March 31, 2015, there were 12 loans in the performing TDR portfolio totaling $4.6 million. At June 30, 2015, the Bank had one Regulation O loan of $1.5 million to a director. There were no loans to officers or directors of the Company at June 30, 2014.

X
- Definition LOANS RECEIVABLE AND ALLOWANCE FOR LOAN AND LEASE LOSSES [Abstract] + References No definition available. + Details
Name: | carv_LoansReceivableAndAllowanceForLoanAndLeaseLossesAbstract
Namespace Prefix: | carv_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=49124121&loc=d3e5066-111524 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.3,4) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=49124121&loc=d3e5162-111524 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(k)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=49124121&loc=d3e5074-111524 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 7 -Article 9 + Details
Name: | us-gaap_LoansNotesTradeAndOtherReceivablesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration