XML 38 R24.htm IDEA: XBRL DOCUMENT v3.20.1
Note 5 - Loans and Allowance for Loan Losses (Tables)
 3 Months Ended
Mar. 31, 2020
Notes Tables  
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]
   
March 31,
    
December 31,
  
   
2020
    
2019
  
Real estate - residential mortgage:
                
One to four family units
   $
124,387,549
     $
118,823,731
  
Multi-family
    
82,548,977
      
87,448,418
  
Real estate - construction
    
73,114,249
      
77,308,551
  
Real estate - commercial
    
300,704,999
      
300,619,387
  
Commercial loans
    
118,181,468
      
114,047,753
  
Consumer and other loans
    
30,861,203
      
30,666,185
  
Total loans
    
729,798,445
      
728,914,025
  
Less:
                
Allowance for loan losses
    
(8,049,264
 )    
(7,607,587
 )
Deferred loan fees/costs, net
    
(686,490
 )    
(574,036
 )
Net loans
   $
721,062,691
     $
720,732,402
  
Financing Receivable, Past Due [Table Text Block]
As of March 31, 2020
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
   
30-59 Days
Past Due
    
60-89 Days
Past Due
    
90 Days and
more Past Due
    
Total Past
Due
    
Current
    
Total Loans
Receivable
    
Total Loans >
90 Days and
Accruing
  
   
(In Thousands)
 
Real estate - residential mortgage:
                                                        
One to four family units
   $
837
     $
-
     $
660
     $
1,497
     $
122,891
     $
124,388
     $
-
  
Multi-family
    
-
      
-
      
-
      
-
      
82,549
      
82,549
      
-
  
Real estate - construction
    
1,825
      
-
      
-
      
1,825
      
71,289
      
73,114
      
-
  
Real estate - commercial
    
1,549
      
244
      
359
      
2,152
      
298,553
      
300,705
      
-
  
Commercial loans
    
31
      
173
      
214
      
418
      
117,763
      
118,181
      
-
  
Consumer and other loans
    
31
      
-
      
216
      
247
      
30,614
      
30,861
      
-
  
Total
   $
4,273
     $
417
     $
1,449
     $
6,139
     $
723,659
     $
729,798
     $
-
  
As of December 31, 2019
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
   
30-59 Days
Past Due
    
60-89 Days
Past Due
    
90 Days and
more Past Due
    
Total Past
Due
    
Current
    
Total Loans
Receivable
    
Total Loans >
90 Days and
Accruing
  
   
(In Thousands)
 
Real estate - residential mortgage:
                                                        
One to four family units
   $
83
     $
437
     $
125
     $
645
     $
118,179
     $
118,824
     $
-
  
Multi-family
    
-
      
-
      
-
      
-
      
87,448
      
87,448
      
-
  
Real estate - construction
    
338
      
-
      
-
      
338
      
76,971
      
77,309
      
-
  
Real estate - commercial
    
-
      
-
      
43
      
43
      
300,576
      
300,619
      
-
  
Commercial loans
    
134
      
105
      
17
      
256
      
113,792
      
114,048
      
-
  
Consumer and other loans
    
48
      
26
      
-
      
74
      
30,592
      
30,666
      
-
  
Total
   $
603
     $
568
     $
185
     $
1,356
     $
727,558
     $
728,914
     $
-
  
Financing Receivable, Nonaccrual [Table Text Block]
   
March 31,
    
December 31,
  
   
2020
    
2019
  
Real estate - residential mortgage:
                
One to four family units
   $
2,136,793
     $
2,398,379
  
Multi-family
    
-
      
-
  
Real estate - construction
    
4,423,691
      
3,738,410
  
Real estate - commercial
    
3,292,149
      
2,941,143
  
Commercial loans
    
1,103,678
      
855,761
  
Consumer and other loans
    
186,824
      
69,784
  
Total
   $
11,143,135
     $
10,003,477
  
Financing Receivable, Allowance for Credit Loss [Table Text Block]
Three months ended
March 31, 2020
  
Construction
    
Commercial
Real Estate
    
One to four
family
    
Multi-family
    
Commercial
    
Consumer
and Other
    
Unallocated
    
Total
  
Allowance for loan losses:
 
(In Thousands)
 
Balance, beginning of period
   $
1,749
     $
2,267
     $
1,001
     $
746
     $
1,129
     $
443
     $
273
     $
7,608
  
Provision charged to expense
    
(120
 )    
304
      
152
      
9
      
237
      
55
      
(137
 )   $
500
  
Losses charged off
    
-
      
-
      
-
      
-
      
(32
 )    
(62
 )    
-
     $
(94
 )
Recoveries
    
-
      
6
      
1
      
-
      
15
      
13
      
-
     $
35
  
Balance, end of period
   $
1,629
     $
2,577
     $
1,154
     $
755
     $
1,349
     $
449
     $
136
     $
8,049
  
Three months ended
March 31, 2019
  
Construction
    
Commercial
Real Estate
    
One to four
family
    
Multi-family
    
Commercial
    
Consumer
and Other
    
Unallocated
    
Total
  
Allowance for loan losses:
 
(In Thousands)
 
Balance, beginning of period
   $
2,306
     $
2,093
     $
1,297
     $
641
     $
1,160
     $
373
     $
126
     $
7,996
  
Provision charged to expense
    
(490
 )    
43
      
85
      
53
      
39
      
44
      
226
     $
-
  
Losses charged off
    
-
      
-
      
-
      
-
      
(234
 )    
(54
 )    
-
     $
(288
 )
Recoveries
    
120
      
1
      
4
      
-
      
9
      
5
      
-
     $
139
  
Balance, end of period
   $
1,936
     $
2,137
     $
1,386
     $
694
     $
974
     $
368
     $
352
     $
7,847
  
March 31, 2020
  
Construction
    
Commercial
Real Estate
    
One to four
family
    
Multi-family
    
Commercial
    
Consumer
and Other
    
Unallocated
    
Total
  
Ending balance: individually evaluated for impairment
   $
596
     $
32
     $
184
     $
-
     $
311
     $
25
     $
-
     $
1,148
  
Ending balance: collectively evaluated for impairment
   $
1,033
     $
2,545
     $
970
     $
755
     $
1,035
     $
424
     $
136
     $
6,898
  
Ending balance: loans acquired with deteriorated credit quality
   $
-
     $
-
     $
-
     $
-
     $
3
     $
-
     $
-
     $
3
  
Loans:
 
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Ending balance: individually evaluated for impairment
   $
4,424
     $
807
     $
2,137
     $
-
     $
943
     $
303
     $
-
     $
8,614
  
Ending balance: collectively evaluated for impairment
   $
68,690
     $
297,255
     $
122,251
     $
82,549
     $
117,060
     $
30,558
     $
-
     $
718,363
  
Ending balance: loans acquired with deteriorated credit quality
   $
-
     $
2,643
     $
-
     $
-
     $
178
     $
-
     $
-
     $
2,821
  
As of December 31, 2019
  
Construction
    
Commercial
Real Estate
    
One to four
family
    
Multi-family
    
Commercial
    
Consumer
and Other
    
Unallocated
    
Total
  
Ending balance: individually evaluated for impairment
   $
553
     $
24
     $
197
     $
-
     $
299
     $
21
     $
-
     $
1,094
  
Ending balance: collectively evaluated for impairment
   $
1,196
     $
2,243
     $
804
     $
746
     $
830
     $
422
     $
273
     $
6,514
  
Ending balance: loans acquired with deteriorated credit quality
   $
-
     $
-
     $
-
     $
-
     $
-
     $
-
     $
-
     $
-
  
Loans:
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Ending balance: individually evaluated for impairment
   $
4,742
     $
650
     $
2,613
     $
-
     $
908
     $
220
     $
-
     $
9,133
  
Ending balance: collectively evaluated for impairment
   $
72,567
     $
297,318
     $
116,211
     $
87,448
     $
112,956
     $
30,446
     $
-
     $
716,946
  
Ending balance: loans acquired with deteriorated credit quality
   $
-
     $
2,651
     $
-
     $
-
     $
184
     $
-
     $
-
     $
2,835
  
Impaired Financing Receivables [Table Text Block]
   
March 31, 2020
    
December 31, 2019
  
   
Recorded
Balance
    
Unpaid
Principal
Balance
    
Specific
Allowance
    
Recorded
Balance
    
Unpaid
Principal
Balance
    
Specific
Allowance
  
   
(In Thousands)
  
Loans without a specific valuation allowance
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Real estate - residential mortgage:
                                                
One to four family units
   $
967
     $
967
     $
-
     $
1,392
     $
1,392
     $
-
  
Multi-family
    
-
      
-
      
-
      
-
      
-
      
-
  
Real estate - construction
    
-
      
-
      
-
      
-
      
-
      
-
  
Real estate - commercial
    
2,929
      
2,929
      
-
      
3,199
      
3,199
      
-
  
Commercial loans
    
17
      
17
      
-
      
33
      
33
      
-
  
Consumer and other loans
    
114
      
114
      
-
      
70
      
70
      
-
  
Loans with a specific valuation allowance
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Real estate - residential mortgage:
                                                
One to four family units
   $
1,170
     $
1,170
     $
184
     $
1,221
     $
1,221
     $
197
  
Multi-family
    
-
      
-
      
-
      
-
      
-
      
-
  
Real estate - construction
    
4,424
      
5,657
      
596
      
4,742
      
5,975
      
553
  
Real estate - commercial
    
521
      
521
      
32
      
162
      
162
      
24
  
Commercial loans
    
1,104
      
1,104
      
314
      
999
      
999
      
301
  
Consumer and other loans
    
189
      
189
      
25
      
150
      
150
      
21
  
Total
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Real estate - residential mortgage:
                                                
One to four family units
   $
2,137
     $
2,137
     $
184
     $
2,613
     $
2,613
     $
197
  
Multi-family
    
-
      
-
      
-
      
-
      
-
      
-
  
Real estate - construction
    
4,424
      
5,657
      
596
      
4,742
      
5,975
      
553
  
Real estate - commercial
    
3,450
      
3,450
      
32
      
3,361
      
3,361
      
24
  
Commercial loans
    
1,121
      
1,121
      
314
      
1,032
      
1,032
      
301
  
Consumer and other loans
    
303
      
303
      
25
      
220
      
220
      
21
  
Total
   $
11,435
     $
12,668
     $
1,151
     $
11,968
     $
13,201
     $
1,096
  
   
For the Three Months Ended
    
For the Three Months Ended
  
   
March 31, 2020
    
March 31, 2019
  
   
Average
Investment
in Impaired
Loans
    
Interest
Income
Recognized
    
Average
Investment
in Impaired
Loans
    
Interest
Income
Recognized
  
   
(In Thousands)
  
Loans without a specific valuation allowance
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Real estate - residential mortgage:
                                
One to four family units
   $
1,091
     $
-
     $
1,079
     $
1
  
Multi-family
    
-
      
-
      
5,938
      
-
  
Real estate - construction
    
-
      
-
      
-
      
-
  
Real estate - commercial
    
2,765
      
-
      
3,472
      
4
  
Commercial loans
    
19
      
-
      
232
      
-
  
Consumer and other loans
    
99
      
2
      
216
      
-
  
Loans with a specific valuation allowance
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Real estate - residential mortgage:
                                
One to four family units
   $
1,173
     $
-
     $
3,011
     $
-
  
Multi-family
    
-
      
-
      
-
      
-
  
Real estate - construction
    
3,939
      
-
      
3,805
      
-
  
Real estate - commercial
    
281
      
-
      
726
      
-
  
Commercial loans
    
904
      
-
      
667
      
-
  
Consumer and other loans
    
169
      
-
      
120
      
-
  
Total
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Real estate - residential mortgage:
                                
One to four family units
   $
2,264
     $
-
     $
4,090
     $
1
  
Multi-family
    
-
      
-
      
5,938
      
-
  
Real estate - construction
    
3,939
      
-
      
3,805
      
-
  
Real estate - commercial
    
3,046
      
-
      
4,198
      
4
  
Commercial loans
    
923
      
-
      
899
      
-
  
Consumer and other loans
    
268
      
2
      
336
      
-
  
Total
   $
10,440
     $
2
     $
19,266
     $
5
  
Financing Receivable, Troubled Debt Restructuring [Table Text Block]
   
March 31, 2020
    
December 31, 2019
  
Real estate - residential mortgage:
                
One to four family units
   $
1,001,925
     $
1,163,782
  
Multi-family
    
-
      
-
  
Real estate - construction
    
4,423,691
      
3,738,409
  
Real estate - commercial
    
764,874
      
161,491
  
Commercial loans
    
854,075
      
572,683
  
Consumer and other loans
    
-
      
-
  
Total
   $
7,044,565
     $
5,636,365
  
Financing Receivable Credit Quality Indicators [Table Text Block]
March 31, 2020
  
Construction
    
Commercial
Real Estate
    
One to four
family
    
Multi-family
    
Commercial
    
Consumer
and Other
    
Total
  
   
(In Thousands)
 
Rating:
                                                        
Pass
   $
68,611
     $
290,039
     $
120,947
     $
82,549
     $
104,154
     $
29,784
     $
696,084
  
Special Mention
    
-
      
2,074
      
850
      
-
      
8,893
      
-
      
11,817
  
Substandard
    
4,503
      
8,592
      
2,591
      
-
      
5,134
      
1,077
      
21,897
  
Doubtful
    
-
      
-
      
-
      
-
      
-
      
-
      
-
  
Total
   $
73,114
     $
300,705
     $
124,388
     $
82,549
     $
118,181
     $
30,861
     $
729,798
  
December 31, 2019
  
Construction
    
Commercial
Real Estate
    
One to four
family
    
Multi-family
    
Commercial
    
Consumer
and Other
    
Total
  
   
(In Thousands)
 
Rating:
                                                        
Pass
   $
73,489
     $
292,674
     $
115,622
     $
87,448
     $
100,658
     $
29,666
     $
699,557
  
Special Mention
    
-
      
1,476
      
535
      
-
      
8,793
      
-
      
10,804
  
Substandard
    
3,820
      
6,469
      
2,667
      
-
      
4,597
      
1,000
      
18,553
  
Doubtful
    
-
      
-
      
-
      
-
      
-
      
-
      
-
  
Total
   $
77,309
     $
300,619
     $
118,824
     $
87,448
     $
114,048
     $
30,666
     $
728,914