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Loans Held For Investment (Tables)
 3 Months Ended
Sep. 30, 2013
Loans and Leases Receivable Disclosure [Abstract]  
Schedule of Loans Held for Investment
Loans held for investment consisted of the following:

(In Thousands)
September 30,
2013
June 30,
2013
Mortgage loans:
 
 
Single-family
$
391,888

$
404,341

Multi-family
273,847

262,316

Commercial real estate
91,417

92,488

Construction
292

292

Commercial business loans
1,386

1,687

Consumer loans
423

437

Total loans held for investment, gross
759,253

761,561

 
 
 
Undisbursed loan funds
(271
)
(292
)
Deferred loan costs, net
2,079

2,063

Allowance for loan losses
(12,105
)
(14,935
)
Total loans held for investment, net
$
748,956

$
748,397
Schedule of Loans Held for Investment, Contractual Repricing
 
Adjustable Rate
 
 
(In Thousands)
Within One Year
After
One Year
Through 3 Years
After
3 Years
Through 5 Years
After
5 Years
Through 10 Years
Fixed Rate
Total
Mortgage loans:
 
 
 
 
 
 
Single-family
$
354,350

$
15,149

$
4,285

$
2,906

$
15,198

$
391,888

Multi-family
130,479

18,898

98,629

16,471

9,370

273,847

Commercial real estate
40,272

2,677

34,374

1,400

12,694

91,417

Construction
292

—

—

—

—

292

Commercial business loans
648

—

—

—

738

1,386

Consumer loans
407

—

—

—

16

423

Total loans held for investment, gross
$
526,448

$
36,724

$
137,288

$
20,777

$
38,016

$
759,253
Schedule of Allowance for Loan Losses
The following tables summarize the Corporation’s allowance for loan losses at September 30, 2013 and June 30, 2013:

(In Thousands)
September 30,
2013
June 30,
2013
Collectively evaluated for impairment:
 
 
Mortgage loans:
 
 
Single-family
$
7,372

$
8,949

Multi-family
3,600

4,689

Commercial real estate
1,014

1,053

Commercial business loans
66

78

Consumer loans
12

12

Total collectively evaluated allowance
12,064

14,781

 
 
 
Individually evaluated for impairment:
 
 
Mortgage loans:
 
 
Single-family
—

113

Commercial business loans
41

41

Total individually evaluated allowance
41

154

Total loan loss allowance
$
12,105

$
14,935


The following table is provided to disclose additional details on the Corporation’s allowance for loan losses:

 
For the Quarters Ended
September 30,
(Dollars in Thousands)
2013
2012
 
 
 
Allowance at beginning of period
$
14,935

$
21,483

 
 
 
(Recovery) provision for loan losses
(942
)
533

 
 
 
Recoveries:
 

 

Mortgage loans:
 

 

Single-family
168

70

Multi-family
11

—

Consumer loans
1

1

Total recoveries
180

71

 
 
 
Charge-offs:
 

 

Mortgage loans:
 

 

Single-family
(690
)
(1,967
)
Multi-family
(1,378
)
—

Consumer loans
—

(2
)
Total charge-offs
(2,068
)
(1,969
)
 
 
 
Net charge-offs
(1,888
)
(1,898
)
Balance at end of period
$
12,105

$
20,118

 
 

 

Allowance for loan losses as a percentage of gross loans held for investment
1.59
%
2.52
%
Net charge-offs as a percentage of average loans receivable, net, during the period (annualized)
0.82
%
0.72
%
Allowance for loan losses as a percentage of gross non-performing loans at the end of the period
58.57
%
58.64
%
Schedule of Recorded Investment in Non-Performing Loans
The following tables identify the Corporation’s total recorded investment in non-performing loans by type, net of allowance for loan losses at September 30, 2013 and June 30, 2013:

 
 
 
(In Thousands)
September 30, 2013
 
Recorded
Investment
Allowance
for Loan
Losses (1)
 
Net
Investment
Mortgage loans:
 
 
 
Single-family:
 
 
 
With a related allowance
$
6,519

$
(1,689
)
$
4,830

Without a related allowance (2)
5,681

—

5,681

Total single-family loans
12,200

(1,689
)
10,511

 
 
 
 
Multi-family:
 
 
 
With a related allowance
1,196

(365
)
831

Without a related allowance (2)
2,435

—

2,435

Total multi-family loans
3,631

(365
)
3,266

 
 
 
 
Commercial real estate:
 
 
 
Without a related allowance (2)
4,645

—

4,645

Total commercial real estate loans
4,645

—

4,645

 
 
 
 
Commercial business loans:
 
 
 
With a related allowance
190

(60
)
130

Total commercial business loans
190

(60
)
130

 
 
 
 
Total non-performing loans
$
20,666

$
(2,114
)
$
18,552


(1) 
Consists of collectively and individually evaluated allowances, specifically assigned to the individual loan.
(2) 
There was no related allowance for loan losses because the loans have been charged-off to their fair value or the fair value of the collateral is higher than the individual loan balance.
 
 
 
(In Thousands)
June 30, 2013
 
Recorded
Investment
Allowance
for Loan
Losses (1)
 
Net
Investment
Mortgage loans:
 
 
 
Single-family:
 
 
 
With a related allowance
$
9,908

$
(2,350
)
$
7,558

Without a related allowance (2)
5,665

—

5,665

Total single-family loans
15,573

(2,350
)
13,223

 
 
 
 
Multi-family:
 
 
 
With a related allowance
4,519

(1,320
)
3,199

Without a related allowance (2)
558

—

558

Total multi-family loans
5,077

(1,320
)
3,757

 
 
 
 
Commercial real estate:
 
 
 
Without a related allowance (2)
4,572

—

4,572

Total commercial real estate loans
4,572

—

4,572

 
 
 
 
Commercial business loans:
 
 
 
With a related allowance
189

(59
)
130

Total commercial business loans
189

(59
)
130

 
 
 
 
Total non-performing loans
$
25,411

$
(3,729
)
$
21,682


(1) 
Consists of collectively and individually evaluated allowances, specifically assigned to the individual loan.
(2) 
There was no related allowance for loan losses because the loans have been charged-off to their fair value or the fair value of the collateral is higher than the individual loan balance.
Schedule of Aging Analysis of Non-Performing Loans
The following table describes the aging analysis (length of time on non-performing status) of non-performing loans, net of allowance for loan losses or charge offs, as of September 30, 2013:

 
(In Thousands)
3 Months or
Less
Over 3 to
6 Months
Over 6 to
12 Months
Over 12
Months
 
Total
Mortgage loans:
 
 
 
 
 
Single-family
$
1,064

$
477

$
2,218

$
6,752

$
10,511

Multi-family
166

1,716

315

1,069

3,266

Commercial real estate
2,049

1,180

247

1,169

4,645

Commercial business loans
9

—

—

121

130

Total
$
3,288

$
3,373

$
2,780

$
9,111

$
18,552
Schedule of Troubled Debt Restructurings by Nonaccrual Versus Accrual Status
The following table summarizes at the dates indicated the restructured loan balances, net of allowance for loan losses, by loan type and non-accrual versus accrual status:

(In Thousands)
September 30, 2013
June 30, 2013
Restructured loans on non-accrual status:
 
 
Mortgage loans:
 
 
Single-family
$
3,740

$
5,094

Multi-family
2,109

2,521

Commercial real estate
880

1,354

Commercial business loans
115

123

Total
6,844

9,092

 
 
 
Restructured loans on accrual status:
 

 

Mortgage loans:
 

 

Single-family
815

434

Total
815

434

 
 
 
Total restructured loans
$
7,659

$
9,526


The following table shows the restructured loans by type, net of allowance for loan losses, at September 30, 2013 and June 30, 2013:

 
 
 
(In Thousands)
September 30, 2013
 
Recorded
Investment
Allowance
for Loan
Losses (1)
 
Net
Investment
Mortgage loans:
 
 
 
Single-family:
 
 
 
With a related allowance
$
1,456

$
(420
)
$
1,036

Without a related allowance (2)
3,519

—

3,519

Total single-family loans
4,975

(420
)
4,555

 
 
 
 
Multi-family:
 
 
 
With a related allowance
508

(193
)
315

Without a related allowance (2)
1,794

—

1,794

Total multi-family loans
2,302

(193
)
2,109

 
 
 
 
Commercial real estate:
 
 
 
Without a related allowance (2)
880

—

880

Total commercial real estate loans
880

—

880

 
 
 
 
Commercial business loans:
 
 
 
With a related allowance
169

(54
)
115

Total commercial business loans
169

(54
)
115

 
 
 
 
Total restructured loans
$
8,326

$
(667
)
$
7,659


(1) 
Consists of collectively and individually evaluated allowances, specifically assigned to the individual loan.
(2) 
There was no related allowance for loan losses because the loans have been charged-off to their fair value or the fair value of the collateral is higher than the individual loan balance.
 
 
 
(In Thousands)
June 30, 2013
 
Recorded
Investment
Allowance
for Loan
Losses (1)
 
Net
Investment
Mortgage loans:
 
 
 
Single-family:
 
 
 
With a related allowance
$
3,774

$
(795
)
$
2,979

Without a related allowance (2)
2,549

—

2,549

Total single-family loans
6,323

(795
)
5,528

 
 
 
 
Multi-family:
 
 
 
With a related allowance
3,266

(1,006
)
2,260

Without a related allowance (2)
261

—

261

Total multi-family loans
3,527

(1,006
)
2,521

 
 
 
 
Commercial real estate:
 
 
 
Without a related allowance (2)
1,354

—

1,354

Total commercial real estate loans
1,354

—

1,354

 
 
 
 
Commercial business loans:
 
 
 
With a related allowance
180

(57
)
123

Total commercial business loans
180

(57
)
123

 
 
 
 
Total restructured loans
$
11,384

$
(1,858
)
$
9,526


(1) 
Consists of collectively and individually evaluated allowances, specifically assigned to the individual loan.
(2) 
There was no related allowance for loan losses because the loans have been charged-off to their fair value or the fair value of the collateral is higher than the individual loan balance.