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Loans Held For Investment (Tables)
 6 Months Ended
Dec. 31, 2017
Loans and Leases Receivable Disclosure [Abstract]  
Schedule of Loans Held for Investment
Loans held for investment, net of fair value adjustments, consisted of the following:
(In Thousands)
December 31, 2017
June 30, 2017
Mortgage loans:
 
 
Single-family
$
313,837

$
322,197

Multi-family
463,786

479,959

Commercial real estate
103,366

97,562

Construction
14,430

16,009

Commercial business loans
478

576

Consumer loans
144

129

Total loans held for investment, gross
896,041

916,432

 
 
 
Undisbursed loan funds
(7,358
)
(9,015
)
Advance payments of escrows
46

61

Deferred loan costs, net
5,322

5,480

Allowance for loan losses
(8,075
)
(8,039
)
Total loans held for investment, net
$
885,976

$
904,919
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
$
152,732

$
23,887

$
73,968

$
51,007

$
12,243

$
313,837

Multi-family
117,609

169,374

160,034

14,216

2,553

463,786

Commercial real estate
27,941

38,106

31,511

5,220

588

103,366

Construction
12,527

—

—

—

1,903

14,430

Commercial business loans
46

—

—

—

432

478

Consumer loans
144

—

—

—

—

144

Total loans held for investment, gross
$
310,999

$
231,367

$
265,513

$
70,443

$
17,719

$
896,041
Schedule of Allowance for Loan Losses and Recorded Investment [Table Text Block]
The following tables summarize the Corporation’s allowance for loan losses and recorded investment in gross loans, by portfolio type, at the dates and for the periods indicated.
 
 
Quarter Ended December 31, 2017
(In Thousands)
Single-family
Multi-family
Commercial Real Estate
Construction
Commercial Business
Consumer
Total
Allowance for loan losses:
 
 
 
 
 
 
 
Allowance at beginning of period
$
3,579

$
3,431

$
875

$
140

$
31

$
7

$
8,063

(Recovery) provision for loan losses
(299
)
(136
)
58

364

1

1

(11
)
Recoveries
48

—

—

—

—

—

48

Charge-offs
(25
)
—

—

—

—

—

(25
)
 
Allowance for loan losses,
  end of period
$
3,303

$
3,295

$
933

$
504

$
32

$
8

$
8,075

 
 
 
 
 
 
 
 
 
Allowance for loan losses:
 
 
 
 
 
 
 
Individually evaluated for impairment
$
—

$
—

$
—

$
—

$
15

$
—

$
15

Collectively evaluated for impairment
3,303

3,295

933

504

17

8

8,060

 
Allowance for loan losses,
  end of period
$
3,303

$
3,295

$
933

$
504

$
32

$
8

$
8,075

 
 
 
 
 
 
 
 
 
Loans held for investment:
 
 
 
 
 
 
 
Individually evaluated for impairment
$
7,038

$
—

$
—

$
—

$
76

$
—

$
7,114

Collectively evaluated for impairment
306,799

463,786

103,366

14,430

402

144

888,927

 
Total loans held for investment,
  gross
$
313,837

$
463,786

$
103,366

$
14,430

$
478

$
144

$
896,041

Allowance for loan losses as
  a percentage of gross loans
  held for investment
1.05
%
0.71
%
0.90
%
3.49
%
6.69
%
5.56
%
0.90
%

 
 
Quarter Ended December 31, 2016
(In Thousands)
Single-family
Multi-family
Commercial Real Estate
Construction
Other Mortgage
Commercial Business
Consumer
Total
Allowance for loan losses:
 
 
 
 
 
 
 
 
Allowance at beginning of
  period
$
4,575

$
3,186

$
854

$
53

$
7

$
42

$
8

$
8,725

(Recovery) provision for
  loan losses
(304
)
(36
)
(18
)
12

(1
)
(5
)
2

(350
)
Recoveries
33

6

—

—

—

—

—

39

Charge-offs
(21
)
—

—

—

—

—

(2
)
(23
)
 
Allowance for loan losses,
  end of period
$
4,283

$
3,156

$
836

$
65

$
6

$
37

$
8

$
8,391

 
 
 
 
 
 
 
 
 
 
Allowance for loan losses:
 
 
 
 
 
 
 
 
Individually evaluated for
  impairment
$
97

$
—

$
—

$
—

$
—

$
15

$
—

$
112

Collectively evaluated for
  impairment
4,186

3,156

836

65

6

22

8

8,279

 
Allowance for loan losses,
  end of period
$
4,283

$
3,156

$
836

$
65

$
6

$
37

$
8

$
8,391

 
 
 
 
 
 
 
 
 
 
Loans held for investment:
 
 
 
 
 
 
 
 
Individually evaluated for
  impairment
$
7,844

$
374

$
—

$
—

$
—

$
85

$
—

$
8,303

Collectively evaluated for
  impairment
308,751

448,091

98,044

16,872

265

525

184

872,732

 
Total loans held for
  investment, gross
$
316,595

$
448,465

$
98,044

$
16,872

$
265

$
610

$
184

$
881,035

Allowance for loan losses as
  a percentage of gross loans
  held for investment
1.35
%
0.70
%
0.85
%
0.39
%
2.26
%
6.07
%
4.35
%
0.96
%
 
 
Six Months Ended December 31, 2017
(In Thousands)
Single-family
Multi-family
Commercial Real Estate
Construction
Commercial Business
Consumer
Total
Allowance for loan losses:
 
 
 
 
 
 
 
Allowance at beginning of period
$
3,601

$
3,420

$
879

$
96

$
36

$
7

$
8,039

(Recovery) provision for loan losses
(176
)
(125
)
54

408

(4
)
1

158

Recoveries
132

—

—

—

—

—

132

Charge-offs
(254
)
—

—

—

—

—

(254
)
 
Allowance for loan losses,
  end of period
$
3,303

$
3,295

$
933

$
504

$
32

$
8

$
8,075

 
 
 
 
 
 
 
 
 
Allowance for loan losses:
 
 
 
 
 
 
 
Individually evaluated for impairment
$
—

$
—

$
—

$
—

$
15

$
—

$
15

Collectively evaluated for impairment
3,303

3,295

933

504

17

8

8,060

 
Allowance for loan losses,
  end of period
$
3,303

$
3,295

$
933

$
504

$
32

$
8

$
8,075

 
 
 
 
 
 
 
 
 
Loans held for investment:
 
 
 
 
 
 
 
Individually evaluated for impairment
$
7,038

$
—

$
—

$
—

$
76

$
—

$
7,114

Collectively evaluated for impairment
306,799

463,786

103,366

14,430

402

144

888,927

 
Total loans held for investment, gross
$
313,837

$
463,786

$
103,366

$
14,430

$
478

$
144

$
896,041

Allowance for loan losses as
  a percentage of gross loans
  held for investment
1.05
%
0.71
%
0.90
%
3.49
%
6.69
%
5.56
%
0.90
%



Six Months Ended December 31, 2016
(In Thousands)
Single-family
Multi-family
Commercial Real Estate
Construction
Other Mortgage
Commercial Business
Consumer
Total
Allowance for loan losses:








Allowance at beginning of
  period
$
4,933

$
2,800

$
848

$
31

$
7

$
43

$
8

$
8,670

(Recovery) provision for loan
losses
(859
)
343

(12
)
34

(1
)
(6
)
1

(500
)
Recoveries
296

13

—

—

—

—

1

310

Charge-offs
(87
)
—

—

—

—

—

(2
)
(89
)
 
Allowance for loan losses, end of period
$
4,283

$
3,156

$
836

$
65

$
6

$
37

$
8

$
8,391











Allowance for loan losses:








Individually evaluated for
  impairment
$
97

$
—

$
—

$
—

$
—

$
15

$
—

$
112

Collectively evaluated for
  impairment
4,186

3,156

836

65

6

22

8

8,279

 
Allowance for loan losses,
  end of period
$
4,283

$
3,156

$
836

$
65

$
6

$
37

$
8

$
8,391

 
 








Loans held for investment:
 
 
 
 
 
 
 
 
Individually evaluated for
  impairment
$
7,844

$
374

$
—

$
—

$
—

$
85

$
—

$
8,303

Collectively evaluated for
  impairment
308,751

448,091

98,044

16,872

265

525

184

872,732

 
Total loans held for
  investment, gross
$
316,595

$
448,465

$
98,044

$
16,872

$
265

$
610

$
184

$
881,035

Allowance for loan losses as
  a percentage of gross loans
  held for investment
1.35
%
0.70
%
0.85
%
0.39
%
2.26
%
6.07
%
4.35
%
0.96
%
Schedule of Allowance for Loan Losses
The following table summarizes the Corporation’s allowance for loan losses at December 31, 2017 and June 30, 2017:
(In Thousands)
December 31, 2017
June 30, 2017
Collectively evaluated for impairment:
 
 
Mortgage loans:
 
 
Single-family
$
3,303

$
3,515

Multi-family
3,295

3,420

Commercial real estate
933

879

Construction
504

96

Commercial business loans
17

21

Consumer loans
8

7

Total collectively evaluated allowance
8,060

7,938

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

86

Commercial business loans
15

15

Total individually evaluated allowance
15

101

Total loan loss allowance
$
8,075

$
8,039


The following table is provided to disclose additional details on the Corporation’s allowance for loan losses:
 
For the Quarters Ended
December 31,
For the Six Months Ended
December 31,
(Dollars in Thousands)
2017
2016
2017
2016
 
 
 
 
 
Allowance at beginning of period
$
8,063

$
8,725

$
8,039

$
8,670

 
 
 
 
 
(Recovery) provision for loan losses
(11
)
(350
)
158

(500
)
 
 
 
 
 
Recoveries:
 

 

 

 

Mortgage loans:
 

 

 

 

Single-family
48

33

132

296

Multi-family
—

6

—

13

Consumer loans
—

—

—

1

Total recoveries
48

39

132

310

 
 
 
 
 
Charge-offs:
 

 

 

 

Mortgage loans:
 

 

 

 

Single-family
(25
)
(21
)
(254
)
(87
)
Consumer loans
—

(2
)
—

(2
)
Total charge-offs
(25
)
(23
)
(254
)
(89
)
 
 
 
 
 
Net recoveries (charge-offs)
23

16

(122
)
221

Balance at end of period
$
8,075

$
8,391

$
8,075

$
8,391

 
 

 

 

 

Allowance for loan losses as a percentage of gross loans held for investment at the end of the period
0.90
 %
0.96
 %
0.90
%
0.96
 %
Net (recoveries) charge-offs as a percentage of average loans receivable, net, during the period (annualized)
(0.01
)%
(0.01
)%
0.02
%
(0.04
)%
Schedule of Recorded Investment in Non-Performing Loans
 
 
 
At December 31, 2017
 
 
 
Unpaid
 
 
 
Net
 
 
 
Principal
Related
Recorded
 
Recorded
(In Thousands)
Balance
Charge-offs
Investment
Allowance(1)
Investment
 
 
 
 
 
 
 
 
Mortgage loans:
 
 
 
 
 
 
Single-family:
 
 
 
 
 
 
 
With a related allowance
$
1,126

$
—

$
1,126

$
(240
)
$
886

 
 
Without a related allowance(2)
7,951

(913
)
7,038

—

7,038

 
Total single-family
9,077

(913
)
8,164

(240
)
7,924

 
 
 
 
 
 
 
 
Commercial business loans:
 
 
 
 
 
 
With a related allowance
76

—

76

(15
)
61

Total commercial business loans
76

—

76

(15
)
61

 
 
 
 
 
 
 
 
Total non-performing loans
$
9,153

$
(913
)
$
8,240

$
(255
)
$
7,985


(1) Consists of collectively and individually evaluated allowances, specifically assigned to the individual loan, and fair value adjustments.
(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 loan balance.
 
 
 
At June 30, 2017
 
 
 
Unpaid
 
 
 
Net
 
 
 
Principal
Related
Recorded
 
Recorded
(In Thousands)
Balance
Charge-offs
Investment
Allowance(1)
Investment
 
 
 
 
 
 
 
 
Mortgage loans:
 
 
 
 
 
 
Single-family:
 
 
 
 
 
 
 
With a related allowance
$
1,821

$
—

$
1,821

$
(325
)
$
1,496

 
 
Without a related allowance(2)
7,119

(886
)
6,233

—

6,233

 
Total single-family
8,940

(886
)
8,054

(325
)
7,729

 
 
 
 
 
 
 
 
 
Commercial real estate:
 
 
 
 
 
 
 
Without a related allowance(2)
201

—

201

—

201

 
Total commercial real estate
201

—

201

—

201

 
 
 
 
 
 
 
 
Commercial business loans:
 
 
 
 
 
 
With a related allowance
80

—

80

(15
)
65

Total commercial business loans
80

—

80

(15
)
65

 
 
 
 
 
 
 
 
Total non-performing loans
$
9,221

$
(886
)
$
8,335

$
(340
)
$
7,995


(1) Consists of collectively and individually evaluated allowances, specifically assigned to the individual loan, and fair value
adjustments.
(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 loan balance.
Schedule of Average Recorded Investment in Non-Performing Loans and Related Interest Income [Table Text Block]
The following tables present the average recorded investment in non-performing loans and the related interest income recognized for the quarters and six months ended December 31, 2017 and 2016:
 
 
 
Quarter Ended December 31,
 
 
 
2017
 
2016
 
 
 
Average
Interest
 
Average
Interest
 
 
 
Recorded
Income
 
Recorded
Income
(In Thousands)
Investment
Recognized
 
Investment
Recognized
 
 
 
 
 
 
 
 
Without related allowances:
 
 
 
 
 
 
Mortgage loans:
 
 
 
 
 
 
 
Single-family
$
7,301

$
—

 
$
7,458

$
1

 
 
Multi-family
—

—

 
375

—

 
 
 
7,301

—

 
7,833

1

 
 
 
 
 
 
 
 
With related allowances:
 
 
 
 
 
 
Mortgage loans:
 
 
 
 
 
 
 
Single-family
786

8

 
2,578

19

 
 
Multi-family
—

—

 
92

12

 
Commercial business loans
76

2

 
88

2

 
 
862

10

 
2,758

33

 
 
 
 
 
 
 
 
Total
$
8,163

$
10

 
$
10,591

$
34


 
 
 
Six Months Ended December 31,
 
 
 
2017
 
2016
 
 
 
Average
Interest
 
Average
Interest
 
 
 
Recorded
Income
 
Recorded
Income
 
 
 
Investment
Recognized
 
Investment
Recognized
 
 
 
 
 
 
 
 
Without related allowances:
 
 
 
 
 
 
Mortgage loans:
 
 
 
 
 
 
 
Single-family
$
7,659

$
135

 
$
7,771

$
37

 
 
Multi-family
—

—

 
377

—

 
 
Commercial real estate
34

13

 
—

—

 
 
 
7,693

148

 
8,148

37

 
 
 
 
 
 
 
 
With related allowances:
 
 
 
 
 
 
Mortgage loans:
 
 
 
 
 
 
 
Single-family
608

19

 
2,517

46

 
 
Multi-family
—

—

 
279

17

 
Commercial business loans
77

3

 
91

3

 
 
685

22

 
2,887

66

 
 
 
 
 
 
 
 
Total
$
8,378

$
170

 
$
11,035

$
103
Schedule of Aging Analysis of Non-Performing Loans
The following tables denote the past due status of the Corporation's gross loans held for investment, net of fair value adjustments, at the dates indicated.
 
 
December 31, 2017
(In Thousands)
Current
30-89 Days Past Due
Non-Accrual (1)
Total Loans Held for Investment
 
 
 
 
 
 
Mortgage loans:
 
 
 
 
 
Single-family
$
304,173

$
1,537

$
8,127

$
313,837

 
Multi-family
463,786

—

—

463,786

 
Commercial real estate
103,366

—

—

103,366

 
Construction
14,430

—

—

14,430

Commercial business loans
402

—

76

478

Consumer loans
144

—

—

144

 
Total loans held for investment, gross
$
886,301

$
1,537

$
8,203

$
896,041



(1) All loans 90 days or greater past due are placed on non-accrual status.
 
 
June 30, 2017
(In Thousands)
Current
30-89 Days Past Due
Non-Accrual (1)
Total Loans Held for Investment
 
 
 
 
 
 
Mortgage loans:
 
 
 
 
 
Single-family
$
313,146

$
1,035

$
8,016

$
322,197

 
Multi-family
479,959

—

—

479,959

 
Commercial real estate
97,361

—

201

97,562

 
Construction
16,009

—

—

16,009

Commercial business loans
496

—

80

576

Consumer loans
129

—

—

129

 
Total loans held for investment, gross
$
907,100

$
1,035

$
8,297

$
916,432

 
(1) All loans 90 days or greater past due are placed on non-accrual status.
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:
 
At
At
(In Thousands)
December 31, 2017
June 30, 2017
Restructured loans on non-accrual status:
 
 
Mortgage loans:
 
 
Single-family
$
3,416

$
3,061

Commercial business loans
61

65

Total
3,477

3,126

 
 
 
Restructured loans on accrual status:
 

 

Mortgage loans:
 

 

Single-family
962

506

Total
962

506

 
 
 
Total restructured loans
$
4,439

$
3,632
Schedule of Recorded Investment in Restructured Loans [Table Text Block]
The following tables identify the Corporation’s total recorded investment in restructured loans by type at the dates and for the periods indicated.
 
 
 
At December 31, 2017
 
 
 
Unpaid
 
 
 
Net
 
 
 
Principal
Related
Recorded
 
Recorded
(In Thousands)
Balance
Charge-offs
Investment
Allowance(1)
Investment
 
 
 
 
 
 
 
 
Mortgage loans:
 
 
 
 
 
 
Single-family:
 
 
 
 
 
 
 
Without a related allowance(2)
$
4,914

$
(536
)
$
4,378

$
—

$
4,378

 
Total single-family
4,914

(536
)
4,378

—

4,378

 
 
 
 
 
 
 
 
Commercial business loans:
 
 
 
 
 
 
With a related allowance
76

—

76

(15
)
61

Total commercial business loans
76

—

76

(15
)
61

 
 
 
 
 
 
 
 
Total restructured loans
$
4,990

$
(536
)
$
4,454

$
(15
)
$
4,439


(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 loan balance.

 
 
 
At June 30, 2017
 
 
 
Unpaid
 
 
 
Net
 
 
 
Principal
Related
Recorded
 
Recorded
(In Thousands)
Balance
Charge-offs
Investment
Allowance(1)
Investment
 
 
 
 
 
 
 
 
Mortgage loans:
 
 
 
 
 
 
Single-family
 
 
 
 
 
 
 
With a related allowance
$
485

$
—

$
485

$
(97
)
$
388

 
 
Without a related allowance(2)
3,618

(439
)
3,179

—

3,179

 
Total single-family
4,103

(439
)
3,664

(97
)
3,567

 
 
 
 
 
 
 
 
Commercial business loans:
 
 
 
 
 
 
With a related allowance
80

—

80

(15
)
65

Total commercial business loans
80

—

80

(15
)
65

 
 
 
 
 
 
 
 
Total restructured loans
$
4,183

$
(439
)
$
3,744

$
(112
)
$
3,632


(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 loan balance.
Schedule of Gross Loans Held for Investment by Loan Types and Risk Category [Table Text Block]
The following tables summarize gross loans held for investment, net of fair value adjustments, by loan types and risk category at the dates indicated:
 
 
December 31, 2017
(In Thousands)
Single-family
Multi-family
Commercial Real Estate
Construction
Commercial Business
Consumer
Total
 
 
 
 
 
 
 
 
 
Pass
$
302,868

$
463,786

$
103,366

$
10,734

$
402

$
144

$
881,300

Special Mention
2,842

—

—

926

—

—

3,768

Substandard
8,127

—

—

2,770

76

—

10,973

 
Total loans held for
   investment, gross
$
313,837

$
463,786

$
103,366

$
14,430

$
478

$
144

$
896,041


 
 
June 30, 2017
(In Thousands)
Single-family
Multi-family
Commercial Real Estate
Construction
Commercial Business
Consumer
Total
 
 
 
 
 
 
 
 
 
Pass
$
310,738

$
479,687

$
97,361

$
16,009

$
496

$
129

$
904,420

Special Mention
3,443

272

—

—

—

—

3,715

Substandard
8,016

—

201

—

80

—

8,297

 
Total loans held for
   investment, gross
$
322,197

$
479,959

$
97,562

$
16,009

$
576

$
129

$
916,432