Loans and Allowance for Loan Losses (Tables)

12 Months Ended

Dec. 31, 2014

Loans And Allowance For Loan Losses [Abstract]

	2014		2013
	(In thousands)
One-to-four family residential	$	169,676	$	166,728
Multi-family residential		12,203		14,011
Construction		2,922		4,951
Nonresidential real estate and land		71,795		67,133
Commercial		16,275		14,915
Consumer and other		2,311		1,110
		275,182		268,848
Less:
Undisbursed portion of loans in process		6,121		4,217
Deferred loan origination fees		683		682
Allowance for loans losses		2,769		2,819
Total loans	$	265,609	$	261,130

Schedule of Allowance for Loan Losses

December 31, 2014	One-to-four family residential			All other mortgage loans			Commercial business loans			Consumer loans			Total
Allowance for loan losses:							(In thousands)
Beginning balance	$	1,017		$	1,526		$	271		$	5		$	2,819
Provision charged to expense		546			(397	)		182			2			333
Losses charged off		(38	)		(261	)		(112	)		—			(411	)
Recoveries		8			17			2			1			28
Ending balance	$	1,533		$	885		$	343		$	8		$	2,769
Allowance Balances:
Individually evaluated for impairment	$	653		$	18		$	145		$	—		$	816
Collectively evaluated for impairment	$	880		$	867		$	198		$	8		$	1,953
Loan Balances:
Ending balance:	$	169,676		$	86,920		$	16,275		$	2,311		$	275,182
Individually evaluated for impairment	$	3,279		$	18		$	145		$	—		$	3,442
Collectively evaluated for impairment	$	166,397		$	86,902		$	16,130		$	2,311		$	271,740

December 31, 2013	One-to-four family residential			All other mortgage loans			Commercial business loans			Consumer loans			Total
Allowance for loan losses:	(In thousands)
Beginning balance	$	1,122		$	1,925		$	275		$	6		$	3,328
Provision charged to expense		15			222			(6	)		(11	)		220
Losses charged off		(130	)		(621	)		—			(2	)		(753	)
Recoveries		10			—			2			12			24
Ending balance	$	1,017		$	1,526		$	271		$	5		$	2,819
Allowance Balances:
Individually evaluated for impairment	$	226		$	618		$	65		$	—		$	909
Collectively evaluated for impairment	$	791		$	908		$	206		$	5		$	1,910
Loan Balances:
Ending balance:	$	166,728		$	86,095		$	14,915		$	1,110		$	268,848
Individually evaluated for impairment	$	6,411		$	3,661		$	142		$	—		$	10,214
Collectively evaluated for impairment	$	160,317		$	82,434		$	14,773		$	1,110		$	258,634

Schedule of Loans Receivable by Credit Risk Profile

December 31, 2014	One-to-four family residential		All other mortgage loans		Commercial business loans		Consumer loans
	(In thousands)
Rating *
Pass (Risk 1-4)	$	160,190	$	84,168	$	15,812	$	2,311
Special Mention (Risk 5)		2,015		851		318		—
Substandard (Risk 6)		7,471		1,901		145		—
Total	$	169,676	$	86,920	$	16,275	$	2,311

December 31, 2013	One-to-four family residential		All other mortgage loans		Commercial business loans		Consumer loans
	(In thousands)
Rating *
Pass (Risk 1-4)	$	158,518	$	81,362	$	14,328	$	1,108
Special Mention (Risk 5)		419		1,587		445		—
Substandard (Risk 6)		7,791		3,146		142		2
Total	$	166,728	$	86,095	$	14,915	$	1,110

Ratings are generally assigned to consumer and residential mortgage loans on a “pass” or “fail” basis, where “fail” results in a substandard classification. Commercial loans, both secured by real estate or other assets or unsecured, are analyzed in accordance with an analytical matrix codified in the Bank's loan policy that produces a risk rating as described below.

Risk 1 is unquestioned credit quality for any credit product. Loans are secured by cash and near cash collateral with immediate access to proceeds.

Risk 2 is very low risk with strong credit and repayment sources. Borrower is well capitalized in a stable industry, financial ratios exceed peers and financial trends are positive.

Risk 3 is very favorable risk with highly adequate credit strength and repayment sources. Borrower has good overall financial condition and adequate capitalization.

Risk 4 is acceptable, average risk with adequate credit strength and repayment sources. Collateral positions must be within Bank policies.

Risk 5 or “Special Mention,” also known as “watch,” has potential weakness that deserves Management's close attention. This risk includes loans where the borrower has developed financial uncertainties or is resolving them. Bank credits have been secured or negotiations will be ongoing to secure further collateral. In accordance with regulatory guidance, this category is generally regarded as temporary, as successful remedial actions will either successfully move the credit back up to Risk 4 or unsuccessful remedial actions will result in the credit being downgraded to Risk 6.

Risk 6 or “Substandard” loans are inadequately protected by the current net worth and paying capacity of the borrower or of the collateral pledged. This risk category contains loans that exhibit a weakening of the borrower's credit strength with limited credit access and all nonperforming loans.

Risk 7 or “Doubtful” loans are significantly under protected by the current net worth and paying capacity of the borrower or of the collateral pledged. This risk category contains loans that are likely to experience a loss of some magnitude, but where the amount of the expected loss is not known with enough certainty to allow for an accurate calculation of a loss amount for charge-off. This category is considered to be temporary until a charge-off amount can be reasonably determined.

Schedule of Aging Analysis of Loans Receivable

December 31, 2014	30-59 Days Past Due		60-89 Days Past Due		Greater Than 90 Days		Total Past Due		Current		Total Loans Receivable		Total Loans > 90 Days and Accruing
	(In thousands)
One-to-four family residential loans	$	466	$	297	$	1,575	$	2,338	$	167,338	$	169,676	$	—
All other mortgage loans		—		198		152		350		86,570		86,920		—
Commercial business loans		—		—		59		59		16,216		16,275		—
Consumer loans		—		—		—		—		2,311		2,311		—
Total	$	466	$	495	$	1,786	$	2,747	$	272,435	$	275,182	$	—

December 31, 2013	30-59 Days Past Due		60-89 Days Past Due		Greater Than 90 Days		Total Past Due		Current		Total Loans Receivable		Total Loans > 90 Days and Accruing
	(In thousands)
One-to-four family residential loans	$	679	$	228	$	624	$	1,531	$	165,197	$	166,728	$	—
All other mortgage loans		150		64		811		1,025		85,070		86,095		—
Commercial business loans		—		—		—		—		14,915		14,915		—
Consumer loans		79		—		—		79		1,031		1,110		—
Total	$	908	$	292	$	1,435	$	2,635	$	266,213	$	268,848	$	—

Schedule of Non-accrual Loans

Non-accrual loans	2014		2013
	(In thousands)
One-to-four family residential loans	$	2,740	$	1,851
Nonresidential real estate loans		350		1,045
All other mortgage loans		—		—
Commercial business loans		96		2
Consumer loans		—		—
Total	$	3,186	$	2,898

Schedule of Impaired Loans

December 31, 2014	Recorded Balance		Unpaid Principal Balance		Specific Allowance		Average Investment in Impaired Loans		Interest Income Recognized
	(In thousands)
Loans without a specific valuation allowance
One-to-four family residential loans	$	1,108	$	1,108	$	—	$	3,220	$	44
All other mortgage loans		—		—		—		1,097		—
Commercial business loans		—		—		—		19		—

Loans with a specific valuation allowance
One-to-four family residential loans		2,171		2,171		653		1,499		56
All other mortgage loans		18		18		18		477		1
Commercial business loans		145		145		145		166		2

Total:
One-to-four family residential loans	$	3,279	$	3,279	$	653	$	4,719	$	100
All other mortgage loans		18		18		18		1,574		1
Commercial business loans		145		145		145		185		2
	$	3,442	$	3,442	$	816	$	6,478	$	103

December 31, 2013	Recorded Balance		Unpaid Principal Balance		Specific Allowance		Average Investment in Impaired Loans		Interest Income Recognized
	(In thousands)
Loans without a specific valuation allowance
One-to-four family residential loans	$	5,569	$	5,569	$	—	$	5,698	$	236
All other mortgage loans		2,051		2,051		—		2,244		104
Commercial business loans		77		77		—		81		3

Loans with a specific valuation allowance
One-to-four family residential loans		842		842		226		1,153		29
All other mortgage loans		1,610		2,076		618		2,368		49
Commercial business loans		65		65		65		74		3

Total:
One-to-four family residential loans	$	6,411	$	6,411	$	226	$	6,851	$	265
All other mortgage loans		3,661		4,127		618		4,612		153
Commercial business loans		142		142		65		155		6
	$	10,214	$	10,680	$	909	$	11,618	$	424

Schedule of Troubled Debt Restructurings

Troubled Debt Restructurings	Number of loans		Pre-modification Unpaid Principal Balance		Post-modification Unpaid Principal Balance
	(dollars in thousands)
December 31, 2014
All other mortgage loans		2	$	1,057	$	1,090

December 31, 2013
One-to-four family residential loans		6	$	909	$	933
All other mortgage loans		1		576		576