Loans (Tables)

12 Months Ended

Jun. 30, 2014

Loans [Abstract]

Major Loan Segments and Classes

Loan segments and classes at June 30, 2014 and 2013 are summarized as follows:

	At June 30,
(In thousands)	2014			2013
Real estate mortgages:
Residential	$	227,373		$	212,526
Nonresidential		114,066			91,482
Construction and land		4,563			6,214
Multifamily		4,059			5,511
Total real estate mortgages		350,061			315,733
Home equity loans		20,578			20,371
Consumer installment		4,208			4,078
Commercial loans		30,994			25,657
Total gross loans		405,841			365,839
Allowance for loan losses		(7,419	)		(7,040	)
Deferred fees and costs		887			627
Total net loans	$	399,309		$	359,426

Loan Balances by Internal Credit Quality Indicator

Loan balances by internal credit quality indicator as of June 30, 2014 are shown below.

(In thousands)	Performing		Watch		Special Mention		Substandard		Total
Residential mortgage	$	223,772	$	221	$	99	$	3,281	$	227,373
Nonresidential mortgage		109,281		-		1,789		2,996		114,066
Residential construction and land		3,005		-		-		-		3,005
Commercial construction		1,558		-		-		-		1,558
Multi-family		3,946		-		-		113		4,059
Home equity		20,239		-		-		339		20,578
Consumer installment		4,208		-		-		-		4,208
Commercial loans		29,686		-		385		923		30,994
Total gross loans	$	395,695	$	221	$	2,273	$	7,652	$	405,841

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 June 30, 2014:

(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	$	1,047	$	290	$	1,938	$	3,275	$	224,098	$	227,373	$	2,473
Nonresidential mortgage		-		504		2,688		3,192		110,874		114,066		2,775
Residential construction and land		-		-		-		-		3,005		3,005		-
Commercial construction		-		-		-		-		1,558		1,558		-
Multi-family		-		-		-		-		4,059		4,059		-
Home equity		260		-		339		599		19,979		20,578		339
Consumer installment		51		-		-		51		4,157		4,208		-
Commercial loans		509		123		278		910		30,084		30,994		312
Total gross loans	$	1,867	$	917	$	5,243	$	8,027	$	397,814	$	405,841	$	5,899

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 years ended June 30,
(In thousands)	2014		2013
Interest income that would have been recorded if loans had been performing in accordance with original terms	$	352	$	433
Interest income that was recorded on nonaccrual loans		128		158

Impaired Loans By Loan Portfolio Class

The tables below detail additional information on impaired loans at the date or periods indicated:

	As of June 30, 2014						For the year ended June 30, 2014
(In thousands)	Recorded Investment		Unpaid Principal		Related Allowance		Average Recorded Investment		Interest Income Recognized
With no related allowance recorded:
Residential mortgage	$	206	$	206	$	-	$	330	$	14
Nonresidential mortgage		461		461		-		518		29
Home equity		96		96		-		24		3
		763		763		-		872		46
With an allowance recorded:
Residential mortgage		2,700		2,790		441		2,978		64
Nonresidential mortgage		2,572		2,959		338		2,346		63
Commercial construction		-		-		-		350		17
Multi-family		-		-		-		193		-
Home equity		200		200		87		150		-
Commercial loans		603		603		3		606		39
		6,075		6,552		869		6,623		183
Residential mortgage		2,906		2,996		441		3,308		78
Nonresidential mortgage		3,033		3,420		338		2,864		92
Commercial construction		-		-		-		350		17
Multi-family		-		-		-		193		-
Home equity		296		296		87		174		3
Commercial loans		603		603		3		606		39
	$	6,838	$	7,315	$	869	$	7,495	$	229

	As of June 30, 2013						For the year ended June 30, 2013
(In thousands)	Recorded Investment		Unpaid Principal		Related Allowance		Average Recorded Investment		Interest Income Recognized
With no related allowance recorded:
Residential mortgage	$	852	$	852	$	-	$	272	$	14
Nonresidential mortgage		783		783		-		1,146		66
Commercial loans		-		-		-		81		17
		1,635		1,635		-		1,499		97
With an allowance recorded:
Residential mortgage		2,582		2,632		520		2,604		77
Nonresidential mortgage		1,339		1,339		305		1,182		33
Commercial construction		1,057		1,057		331		1,066		50
Multi-family		463		463		16		850		26
Home equity		-		-		-		193		4
Commercial loans		610		610		7		575		37
		6,051		6,101		1,179		6,470		227
Residential mortgage		3,434		3,484		520		2,876		91
Nonresidential mortgage		2,122		2,122		305		2,328		99
Commercial construction		1,057		1,057		331		1,066		50
Multi-family		463		463		16		850		26
Home equity		-		-		-		193		4
Commercial loans		610		610		7		656		54
	$	7,686	$	7,736	$	1,179	$	7,969	$	324

Troubled Debt Restructurings on Financing Receivables

The table below details loans that have been modified as a troubled debt restructuring during the year ended June 30, 2014.

(Dollars in thousands)	Number of Contracts		Pre-Modification Outstanding Recorded Investment		Post-Modification Outstanding Recorded Investment		Current Outstanding Recorded Investment
Residential mortgage		3	$	575	$	575	$	566
Nonresidential mortgage		5		1,789		1,848		1,589

The table below details loans that have been modified as a troubled debt restructuring during the year ended June 30, 2013.

(Dollars in thousands)	Number of Contracts		Pre-Modification Outstanding Recorded Investment		Post-Modification Outstanding Recorded Investment		Current Outstanding Recorded Investment
Residential mortgage		4	$	836	$	742	$	739
Nonresidential mortgage		2		625		657		657

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 year ended June 30, 2014:

(Dollars in thousands)	Number of Contracts		Recorded Investment		Allowance for Loan Loss
Residential mortgage		2	$	284	$	65
Nonresidential mortgage		2		894		192

Activity and Allocation of Allowance For Loan Losses

The allowance is allocated to each loan category based on historical loss experience, current economic conditions, and other considerations.

Activity for the year ended June 30, 2014

(In thousands)	Balance June 30, 2013		Charge-offs		Recoveries		Provision			Balance June 30, 2014
Residential mortgage	$	2,627	$	420	$	10	$	514		$	2,731
Nonresidential mortgage		2,476		309		-		769			2,936
Residential construction and land		37		-		-		5			42
Commercial construction		392		-		-		(354	)		38
Multi-family		139		24		7		(63	)		59
Home equity		275		44		-		130			361
Consumer installment		222		215		75		158			240
Commercial loans		809		205		4		203			811
Unallocated		63		-		-		138			201
Total	$	7,040	$	1,217	$	96	$	1,500		$	7,419

	Allowance for Loan Losses				Loans Receivable
	Ending Balance June 30, 2014 Impairment Analysis				Ending Balance June 30, 2014 Impairment Analysis
(In thousands)	Individual Evaluated		Collectively Evaluated		Individual Evaluated		Collectively Evaluated
Residential mortgage	$	441	$	2,290	$	2,906	$	224,467
Nonresidential mortgage		338		2,598		3,033		111,033
Residential construction and land		-		42		-		3,005
Commercial construction		-		38		-		1,558
Multi-family		-		59		-		4,059
Home equity		87		274		296		20,282
Consumer installment		-		240		-		4,208
Commercial loans		3		808		603		30,391
Unallocated		-		201		-		-
Total	$	869	$	6,550	$	6,838	$	399,003

Activity for the year ended June 30, 2013

(In thousands)	Balance June 30, 2012		Charge-offs		Recoveries		Provision			Balance June 30, 2013
Residential mortgage	$	2,163	$	421	$	-	$	885		$	2,627
Nonresidential mortgage		2,076		233		-		633			2,476
Residential construction and land		19		-		-		18			37
Commercial construction		407		-		-		(15	)		392
Multi-family		337		-		-		(198	)		139
Home equity		187		-		-		88			275
Consumer installment		207		246		88		173			222
Commercial loans		645		71		-		235			809
Unallocated		136		-		-		(73	)		63
Total	$	6,177	$	971	$	88	$	1,746		$	7,040

	Allowance for Loan Loss				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 & 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