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Credit Quality of Loans and Allowance for Loan Losses (Tables)
 6 Months Ended
Dec. 31, 2013
Credit Quality of Loans and Allowance for Loan Losses [Abstract]  
Loan Balances by Internal Credit Quality Indicator
Loan balances by internal credit quality indicator as of December 31, 2013 are shown below.
 
(In thousands)
 
Performing
  
Watch
  
Special Mention
  
Substandard
  
Total
 
Residential mortgage
 
$
220,987
  
$
581
  
$
100
  
$
4,165
  
$
225,833
 
Nonresidential mortgage
  
97,656
   
132
   
3,257
   
1,782
   
102,827
 
Residential construction and land
  
3,406
   
-
   
-
   
-
   
3,406
 
Commercial construction
  
3,500
   
-
   
-
   
-
   
3,500
 
Multi-family
  
4,436
   
-
   
-
   
258
   
4,694
 
Home equity
  
20,288
   
56
   
-
   
270
   
20,614
 
Consumer installment
  
4,225
   
19
   
-
   
23
   
4,267
 
Commercial loans
  
26,984
   
-
   
605
   
708
   
28,297
 
Total gross loans
 
$
381,482
  
$
788
  
$
3,962
  
$
7,206
  
$
393,438
 

Loan balances by internal credit quality indicator as of June 30, 2013 are shown below.
 
(In thousands)
 
Performing
  
Watch
  
Special Mention
  
Substandard
  
Total
 
Residential mortgage
 
$
207,606
  
$
294
  
$
302
  
$
4,324
  
$
212,526
 
Nonresidential mortgage
  
87,509
   
-
   
2,197
   
1,776
   
91,482
 
Residential construction and land
  
2,691
   
-
   
-
   
-
   
2,691
 
Commercial construction
  
2,466
   
-
   
-
   
1,057
   
3,523
 
Multi-family
  
4,785
   
-
   
-
   
726
   
5,511
 
Home equity
  
20,099
   
221
   
23
   
28
   
20,371
 
Consumer installment
  
4,073
   
5
   
-
   
-
   
4,078
 
Commercial loans
  
24,454
   
-
   
516
   
687
   
25,657
 
Total gross loans
 
$
353,683
  
$
520
  
$
3,038
  
$
8,598
  
$
365,839
 
Delinquent and Nonaccrual Loans By Past Due Status
The following table sets forth information regarding delinquent and/or nonaccrual loans as of December 31, 2013:
 
(In thousands)
 
30-59
days past
 due
  
60-89 days
 past due
  
90 days or
more past
due
  
Total past
due
  
Current
  
Total Loans
  
Loans on
Non-
accrual
 
Residential mortgage
 
$
1,061
  
$
452
  
$
3,084
  
$
4,597
  
$
221,236
  
$
225,833
  
$
3,427
 
Nonresidential mortgage
  
1,017
   
570
   
1,065
   
2,652
   
100,175
   
102,827
   
1,945
 
Residential construction and land
  
-
   
-
   
-
   
-
   
3,406
   
3,406
   
-
 
Commercial construction
  
-
   
-
   
-
   
-
   
3,500
   
3,500
   
-
 
Multi-family
  
142
   
-
   
-
   
142
   
4,552
   
4,694
   
-
 
Home equity
  
144
   
80
   
221
   
445
   
20,169
   
20,614
   
270
 
Consumer installment
  
46
   
19
   
22
   
87
   
4,180
   
4,267
   
23
 
Commercial loans
  
500
   
-
   
206
   
706
   
27,591
   
28,297
   
314
 
Total gross loans
 
$
2,910
  
$
1,121
  
$
4,598
  
$
8,629
  
$
384,809
  
$
393,438
  
$
5,979
 

The following table sets forth information regarding delinquent and/or nonaccrual loans as of June 30, 2013:


(In thousands)
 
30-59
days past
 due
  
60-89 days
 past due
  
90 days or
more past
due
  
Total
past due
  
Current
  
Total Loans
  
Loans on
Non-
accrual
 
Residential mortgage
 
$
1,255
  
$
165
  
$
3,875
  
$
5,295
  
$
207,231
  
$
212,526
  
$
3,599
 
Nonresidential mortgage
  
215
   
978
   
1,655
   
2,848
   
88,634
   
91,482
   
2,018
 
Residential construction and land
  
38
   
-
   
-
   
38
   
2,653
   
2,691
   
-
 
Commercial construction
  
-
   
-
   
-
   
-
   
3,523
   
3,523
   
-
 
Multi-family
  
144
   
-
   
463
   
607
   
4,904
   
5,511
   
463
 
Home equity
  
269
   
221
   
28
   
518
   
19,853
   
20,371
   
51
 
Consumer installment
  
34
   
5
   
-
   
39
   
4,039
   
4,078
   
-
 
Commercial loans
  
530
   
78
   
82
   
690
   
24,967
   
25,657
   
195
 
Total gross loans
 
$
2,485
  
$
1,447
  
$
6,103
  
$
10,035
  
$
355,804
  
$
365,839
  
$
6,326
 
Nonaccrual Loans, Interest Income Data

The table below details additional information related to nonaccrual loans for the three and six months ended December 31:

 
 
For the six months
ended December 31,
  
For the three months
ended December 31
 
(In thousands)
 
2013
  
2012
  
2013
  
2012
 
Interest income that would have been recorded if loans had been performing in accordance with original terms
 
$
208
  
$
275
  
$
83
  
$
125
 
Interest income that was recorded on nonaccrual loans
  
64
   
126
   
35
   
72
 
Impaired Loans By Loan Portfolio Class
The tables below detail additional information on impaired loans at the date or periods indicated:

 
 
As of December 31, 2013
  
For the six months ended
 December 31, 2013
  
For the three months ended December 31, 2013
 
(In thousands)
 
Recorded Investment
  
Unpaid Principal
  
Related Allowance
  
Average Recorded Investment
  
Interest Income Recognized
  
Average Recorded Investment
  
Interest Income Recognized
 
With no related allowance recorded:
  
  
  
  
  
 
Residential mortgage
 
$
259
  
$
259
  
$
-
  
$
399
  
$
1
  
$
207
  
$
1
 
Nonresidential mortgage
  
539
   
633
   
-
   
596
   
17
   
539
   
8
 
 
  
798
   
892
   
-
   
995
   
18
   
746
   
9
 
With an allowance recorded:
                     
Residential mortgage
  
2,865
   
2,884
   
574
   
3,100
   
30
   
3,065
   
15
 
Nonresidential mortgage
  
2,755
   
2,842
   
403
   
1,992
   
20
   
2,423
   
12
 
Commercial construction
  
-
   
-
   
-
   
701
   
17
   
350
   
-
 
Multi-family
  
-
   
-
   
-
   
386
   
-
   
308
   
-
 
Home equity
  
200
   
200
   
86
   
100
   
-
   
200
   
-
 
Commercial loans
  
606
   
606
   
3
   
607
   
20
   
607
   
10
 
 
  
6,426
   
6,532
   
1,066
   
6,886
   
87
   
6,953
   
37
 
Total impaired:
                            
Residential mortgage
  
3,124
   
3,143
   
574
   
3,499
   
31
   
3,272
   
16
 
Nonresidential mortgage
  
3,294
   
3,475
   
403
   
2,588
   
37
   
2,962
   
20
 
Commercial construction
  
-
   
-
   
-
   
701
   
17
   
350
   
-
 
Multi-family
  
-
   
-
   
-
   
386
   
-
   
308
   
-
 
Home equity
  
200
   
200
   
86
   
100
   
-
   
200
   
-
 
Commercial loans
  
606
   
606
   
3
   
607
   
20
   
607
   
10
 
 
 
$
7,224
  
$
7,424
  
$
1,066
  
$
7,881
  
$
105
  
$
7,699
  
$
46
 

 
 
As of June 30, 2013
  
For the six months ended
December 31, 2012
  
For the three months ended
December 31, 2012
 
(In thousands)
 
Recorded Investment
  
Unpaid Principal
  
Related Allowance
  
Average Recorded Investment
  
Interest Income Recognized
  
Average Recorded Investment
  
Interest Income Recognized
 
With no related allowance recorded:
  
  
  
  
  
 
Residential mortgage
 
$
852
  
$
852
  
$
-
  
$
78
  
$
11
  
$
156
  
$
11
 
Nonresidential mortgage
  
783
   
783
   
-
   
1,267
   
47
   
1,264
   
26
 
Commercial loans
  
-
   
-
   
-
   
124
   
10
   
122
   
10
 
 
  
1,635
   
1,635
   
-
   
1,469
   
68
   
1,542
   
47
 
With an allowance recorded:
                     
Residential mortgage
  
2,582
   
2,632
   
520
   
2,378
   
38
   
2,894
   
23
 
Nonresidential mortgage
  
1,339
   
1,339
   
305
   
1,027
   
8
   
1,088
   
2
 
Commercial construction
  
1,057
   
1,057
   
331
   
1,070
   
28
   
1,106
   
11
 
Multi-family
  
463
   
463
   
16
   
885
   
16
   
889
   
8
 
Home equity
  
-
   
-
   
-
   
386
   
4
   
386
   
4
 
Commercial loans
  
610
   
610
   
7
   
573
   
20
   
572
   
10
 
 
  
6,051
   
6,101
   
1,179
   
6,319
   
114
   
6,935
   
58
 
Total impaired:
                            
Residential mortgage
  
3,434
   
3,484
   
520
   
2,456
   
49
   
3,050
   
34
 
Nonresidential mortgage
  
2,122
   
2,122
   
305
   
2,294
   
55
   
2,352
   
28
 
Commercial construction
  
1,057
   
1,057
   
331
   
1,070
   
28
   
1,106
   
11
 
Multi-family
  
463
   
463
   
16
   
885
   
16
   
889
   
8
 
Home equity
  
-
   
-
   
-
   
386
   
4
   
386
   
4
 
Commercial loans
  
610
   
610
   
7
   
697
   
30
   
694
   
20
 
 
 
$
7,686
  
$
7,736
  
$
1,179
  
$
7,788
  
$
182
  
$
8,477
  
$
105
 
Troubled Debt Restructurings on Financing Receivables
The table below details loans that have been modified as a troubled debt restructuring during the six and three month periods ended December 31, 2013 and 2012.

(Dollars in thousands)
 
Number of Contracts
  
Pre-Modification Outstanding Recorded Investment
  
Post-Modification Outstanding Recorded Investment
  
Current Outstanding Recorded Investment
 
Six months ended December 31, 2013
 
  
  
  
 
Residential mortgage
  
2
  
$
367
  
$
367
  
$
362
 
Nonresidential mortgage
  
3
   
1,647
   
1,688
   
1,683
 
 
                
Six months ended December 31, 2012
                
Residential mortgage
  
1
   
246
   
261
   
261
 
 
                
Three months ended December 31, 2013
                
Nonresidential mortgage
  
2
  
$
1,205
  
$
1,246
  
$
1,245
 
 
                
Three months ended December 31, 2012
                
Residential mortgage
  
1
   
246
   
261
   
261
 
Troubled Debt Restructurings, Subsequently Defaulted
The table below details loans that have been modified as troubled debt restructurings during the previous twelve months which have subsequently defaulted during the six and three months ended December 31, 2013:

(Dollars in thousands)
 
Number of Contracts
  
Recorded Investment
  
Allowance for Loan Loss
 
Six months ended December 31, 2013
 
  
  
 
Residential mortgage
  
2
  
$
284
  
$
57
 
Nonresidential mortgage
  
1
   
460
   
109
 
 
            
Three months ended December 31, 2013
            
Residential mortgage
  
1
  
$
211
  
$
57
 
Activity and Allocation of Allowance For Loan Losses
The following tables set forth the activity and allocation of the allowance for loan losses by loan category during and at the periods indicated.  The allowance is allocated to each loan category based on historical loss experience and economic conditions.

Activity for the three months ended December 31, 2013

(In thousands)
 
Balance at September 30, 2013
  
Charge-offs
  
Recoveries
  
Provision
  
Balance at December 31, 2013
 
Residential mortgage
 
$
2,558
  
$
205
  
$
-
  
$
419
  
$
2,772
 
Nonresidential mortgage
  
2,622
   
87
   
-
   
205
   
2,740
 
Residential construction and land
  
46
   
-
   
-
   
1
   
47
 
Commercial construction
  
356
   
-
   
-
   
(270
)
  
86
 
Multi-family
  
110
   
24
   
-
   
21
   
107
 
Home equity
  
293
   
8
   
-
   
75
   
360
 
Consumer installment
  
221
   
61
   
17
   
66
   
243
 
Commercial loans
  
822
   
1
   
4
   
(52
)
  
773
 
Unallocated
  
-
   
-
   
-
   
43
   
43
 
Total
 
$
7,028
  
$
386
  
$
21
  
$
508
  
$
7,171
 

Activity for the six months ended December 31, 2013

(In thousands)
 
Balance at June 30, 2013
  
Charge-offs
  
Recoveries
  
Provision
  
Balance at December 31, 2013
 
Residential mortgage
 
$
2,627
  
$
282
  
$
-
  
$
427
  
$
2,772
 
Nonresidential mortgage
  
2,476
   
87
   
-
   
351
   
2,740
 
Residential construction and land
  
37
   
-
   
-
   
10
   
47
 
Commercial construction
  
392
   
-
   
-
   
(306
)
  
86
 
Multi-family
  
139
   
24
   
-
   
(8
)
  
107
 
Home equity
  
275
   
8
   
-
   
93
   
360
 
Consumer installment
  
222
   
120
   
32
   
109
   
243
 
Commercial loans
  
809
   
205
   
4
   
165
   
773
 
Unallocated
  
63
   
-
   
-
   
(20
)
  
43
 
Total
 
$
7,040
  
$
726
  
$
36
  
$
821
  
$
7,171
 

 
 
Allowance for Loan Losses
  
Loans Receivable
 
 
 
 
Ending Balance December 31, 2013 Impairment Analysis
  
Ending Balance December 31, 2013 Impairment Analysis
 
(In thousands)
 
Individually Evaluated
  
Collectively Evaluated
  
Individually Evaluated
  
Collectively Evaluated
 
Residential mortgage
 
$
574
  
$
2,198
  
$
3,124
  
$
222,709
 
Nonresidential mortgage
  
403
   
2,337
   
3,294
   
99,533
 
Residential construction and land
  
-
   
47
   
-
   
3,406
 
Commercial construction
  
-
   
86
   
-
   
3,500
 
Multi-family
  
-
   
107
   
-
   
4,694
 
Home equity
  
86
   
274
   
200
   
20,414
 
Consumer installment
  
-
   
243
   
-
   
4,267
 
Commercial loans
  
3
   
770
   
606
   
27,691
 
Unallocated
  
-
   
43
   
-
   
-
 
Total
 
$
1,066
  
$
6,105
  
$
7,224
  
$
386,214
 

Activity for the three months ended December 31, 2012

(In thousands)
 
Balance at September 30, 2012
  
Charge-offs
  
Recoveries
  
Provision
  
Balance at December 31, 2012
 
Residential mortgage
 
$
2,350
  
$
234
  
$
-
  
$
313
  
$
2,429
 
Nonresidential mortgage
  
2,104
   
20
   
-
   
162
   
2,246
 
Residential construction and land
  
43
   
-
   
-
   
-
   
43
 
Commercial construction
  
364
   
-
   
-
   
27
   
391
 
Multi-family
  
293
   
-
   
-
   
(7
)
  
286
 
Home equity
  
369
   
-
   
-
   
(8
)
  
361
 
Consumer installment
  
257
   
62
   
18
   
68
   
281
 
Commercial loans
  
684
   
15
   
-
   
58
   
727
 
Unallocated
  
72
   
-
   
-
   
(72
)
  
-
 
Total
 
$
6,536
  
$
331
  
$
18
  
$
541
  
$
6,764
 

Activity for the six months ended December 31, 2012
 
(In thousands)
 
Balance at June 30, 2012
  
Charge-offs
  
Recoveries
  
Provision
  
Balance at December 31, 2012
 
Residential mortgage
 
$
2,163
  
$
273
  
$
-
  
$
539
  
$
2,429
 
Nonresidential mortgage
  
2,076
   
20
   
-
   
190
   
2,246
 
Residential construction and land
  
19
   
-
   
-
   
24
   
43
 
Commercial construction
  
407
   
-
   
-
   
(16
)
  
391
 
Multi-family
  
337
   
-
   
-
   
(51
)
  
286
 
Home equity
  
187
   
-
   
-
   
174
   
361
 
Consumer installment
  
207
   
132
   
42
   
164
   
281
 
Commercial loans
  
645
   
15
   
-
   
97
   
727
 
Unallocated
  
136
   
-
   
-
   
(136
)
  
-
 
Total
 
$
6,177
  
$
440
  
$
42
  
$
985
  
$
6,764
 

 
 
Allowance for Loan Losses
  
Loans Receivable
 
 
 
Ending Balance June 30, 2013 Impairment Analysis
  
Ending Balance June 30, 2013 Impairment Analysis
 
(In thousands)
 
Individually Evaluated
  
Collectively Evaluated
  
Individually Evaluated
  
Collectively Evaluated
 
Residential mortgage
 
$
520
  
$
2,107
  
$
3,434
  
$
209,092
 
Nonresidential mortgage
  
305
   
2,171
   
2,122
   
89,360
 
Residential construction and land
  
-
   
37
   
-
   
2,691
 
Commercial construction
  
331
   
61
   
1,057
   
2,466
 
Multi-family
  
16
   
123
   
463
   
5,048
 
Home equity
  
-
   
275
   
-
   
20,371
 
Consumer installment
  
-
   
222
   
-
   
4,078
 
Commercial loans
  
7
   
802
   
610
   
25,047
 
Unallocated
  
-
   
63
   
-
   
-
 
Total
 
$
1,179
  
$
5,861
  
$
7,686
  
$
358,153