Loans and Allowance for Loan Losses (Tables)

9 Months Ended

Mar. 31, 2015

Loans and Allowance for Loan Losses [Abstract]

Loan Balances by Internal Credit Quality Indicator

Loan balances by internal credit quality indicator as of March 31, 2015 are shown below.
 

(In thousands)	Performing		Watch		Special Mention		Substandard		Total
Residential mortgage	$	223,938	$	186	$	97	$	2,849	$	227,070
Nonresidential mortgage		132,690		604		1,883		2,630		137,807
Residential construction and land		3,819		-		-		-		3,819
Commercial construction		5,944		-		-		-		5,944
Multi-family		4,286		-		-		107		4,393
Home equity		20,728		-		17		112		20,857
Consumer installment		3,927		-		-		7		3,934
Commercial loans		37,175		-		370		854		38,399
Total gross loans	$	432,507	$	790	$	2,367	$	6,559	$	442,223

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

Delinquent and Nonaccrual Loans By Past Due Status

The following table sets forth information regarding delinquent and/or nonaccrual loans as of March 31, 2015:

(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	$	1,627	$	201	$	1,452	$	3,280	$	223,790	$	227,070	$	1,965
Nonresidential mortgage		-		1,028		775		1,803		136,004		137,807		2,900
Residential construction and land		-		-		-		-		3,819		3,819		-
Commercial construction		-		-		-		-		5,944		5,944		-
Multi-family		-		-		-		-		4,393		4,393		-
Home equity		283		17		112		412		20,445		20,857		112
Consumer installment		26		-		7		33		3,901		3,934		7
Commercial loans		519		-		175		694		37,705		38,399		392
Total gross loans	$	2,455	$	1,246	$	2,521	$	6,222	$	436,001	$	442,223	$	5,376

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

Nonaccrual Loans, Interest Income Data

The table below details additional information related to nonaccrual loans.

	For the nine months ended March 31,				For the three months ended March 31,
(In thousands)	2015		2014		2015		2014
Interest income that would have been recorded if loans had been performing in accordance with original terms	$	246	$	389	$	47	$	181
Interest income that was recorded on nonaccrual loans		127		92		42		28

Impaired Loans By Loan Portfolio Class

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

	As of March 31, 2015						For the nine months ended March 31, 2015				For the three months ended March 31, 2015
(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	$	855	$	855	$	-	$	500	$	26	$	716	$	13
Nonresidential mortgage		1,400		1,607		-		890		31		1,409		18
Home equity		112		233		-		69		1		48		1
Commercial loans		500		500		-		167		9		500		9
		2,867		3,195		-		1,626		67		2,673		41
With an allowance recorded:
Residential mortgage		2,147		2,147		375		2,345		63		2,061		16
Nonresidential mortgage		1,270		1,270		191		1,935		53		1,203		11
Home equity		-		-		-		178		-		133		-
Commercial loans		96		96		2		432		21		97		1
		3,513		3,513		568		4,890		137		3,494		28
Total impaired:
Residential mortgage		3,002		3,002		375		2,845		89		2,777		29
Nonresidential mortgage		2,670		2,877		191		2,825		84		2,612		29
Home equity		112		233		-		247		1		181		1
Commercial loans		596		596		2		599		30		597		10
	$	6,380	$	6,708	$	568	$	6,516	$	204	$	6,167	$	69

	As of June 30, 2014						For the nine months ended March 31, 2014				For the three months ended March 31, 2014
(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	$	206	$	206	$	-	$	355	$	7	$	267	$	6
Nonresidential mortgage		461		461		-		537		23		513		6
Home equity		96		96		-		-		-		-		-
		763		763		-		892		30		780		12
With an allowance recorded:
Residential mortgage		2,700		2,790		441		3,025		45		2,876		15
Nonresidential mortgage		2,572		2,959		338		2,243		37		2,775		17
Commercial construction		-		-		-		467		17		-		-
Multi-family		-		-		-		257		-		-		-
Home equity		200		200		87		133		-		200		-
Commercial loans		603		603		3		607		27		605		7
		6,075		6,552		869		6,732		126		6,456		39
Total impaired:
Residential mortgage		2,906		2,996		441		3,380		52		3,143		21
Nonresidential mortgage		3,033		3,420		338		2,780		60		3,288		23
Commercial construction		-		-		-		467		17		-		-
Multi-family		-		-		-		257		-		-		-
Home equity		296		296		87		133		-		200		-
Commercial loans		603		603		3		607		27		605		7
	$	6,838	$	7,315	$	869	$	7,624	$	156	$	7,236	$	51

Troubled Debt Restructurings on Financing Receivables

The table below details loans that have been modified as a troubled debt restructuring during the nine and three month periods ended March 31, 2015 and 2014.

(Dollars in thousands)	Number of Contracts		Pre-Modification Outstanding Recorded Investment		Post-Modification Outstanding Recorded Investment		Current Outstanding Recorded Investment
Nine months ended March 31, 2015
Residential mortgage		1	$	164	$	184	$	184
Nine months ended March 31, 2014
Residential mortgage		2	$	367	$	367	$	361
Nonresidential mortgage		5		1,789		1,848		1,837
Three months ended March 31, 2015
Residential mortgage		-	$	-	$	-	$	-
Three months ended March 31, 2014
Nonresidential mortgage		2	$	142	$	160	$	159

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 nine and three months ended March 31, 2014:

(Dollars in thousands)	Number of Contracts		Recorded Investment		Allowance for Loan Loss
Nine months ended March 31, 2014
Residential mortgage		2	$	284	$	65
Nonresidential mortgage		1		460		120
Three months ended March 31, 2014
Residential mortgage		-	$	-	$	-

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 March 31, 2015
(In thousands)	Balance at December 31, 2014		Charge-offs		Recoveries		Provision			Balance at March 31, 2015
Residential mortgage	$	2,589	$	53	$	6	$	(43	)	$	2,499
Nonresidential mortgage		3,467		127		-		228			3,568
Residential construction and land		51		-		-		2			53
Commercial construction		148		-		-		7			155
Multi-family		44		-		-		(2	)		42
Home equity		372		121		-		53			304
Consumer installment		244		73		20		15			206
Commercial loans		881		42		2		156			997
Unallocated		-		-		-		-			-
Total	$	7,796	$	416	$	28	$	416		$	7,824

	Activity for the nine months ended March 31, 2015
(In thousands)	Balance at June 30, 2014		Charge-offs		Recoveries		Provision			Balance at March 31, 2015
Residential mortgage	$	2,731	$	295	$	6	$	57		$	2,499
Nonresidential mortgage		2,936		127		-		759			3,568
Residential construction and land		42		-		-		11			53
Commercial construction		38		-		-		117			155
Multi-family		59		-		-		(17	)		42
Home equity		361		121		-		64			304
Consumer installment		240		194		44		116			206
Commercial loans		811		48		8		226			997
Unallocated		201		-		-		(201	)		-
Total	$	7,419	$	785	$	58	$	1,132		$	7,824

	Allowance for Loan Losses				Loans Receivable
	Ending Balance March 31, 2015 Impairment Analysis				Ending Balance March 31, 2015 Impairment Analysis
(In thousands)	Individually Evaluated		Collectively Evaluated		Individually Evaluated		Collectively Evaluated
Residential mortgage	$	375	$	2,124	$	3,002	$	224,068
Nonresidential mortgage		191		3,377		2,670		135,137
Residential construction and land		-		53		-		3,819
Commercial construction		-		155		-		5,944
Multi-family		-		42		-		4,393
Home equity		-		304		112		20,745
Consumer installment		-		206		-		3,934
Commercial loans		2		995		596		37,803
Unallocated		-		-		-		-
Total	$	568	$	7,256	$	6,380	$	435,843

	Activity for the three months ended March 31, 2014
(In thousands)	Balance at December 31, 2013		Charge-offs		Recoveries		Provision			Balance at March 31, 2014
Residential mortgage	$	2,772	$	62	$	1	$	29		$	2,740
Nonresidential mortgage		2,740		-		-		105			2,845
Residential construction and land		47		-		-		(2	)		45
Commercial construction		86		-		-		(24	)		62
Multi-family		107		-		7		(53	)		61
Home equity		360		36		-		48			372
Consumer installment		243		51		23		(11	)		204
Commercial loans		773		-		-		17			790
Unallocated		43		-		-		179			222
Total	$	7,171	$	149	$	31	$	288		$	7,341

	Activity for the nine months ended March 31, 2014
(In thousands)	Balance at June 30, 2013		Charge-offs		Recoveries		Provision			Balance at March 31, 2014
Residential mortgage	$	2,627	$	344	$	1	$	456		$	2,740
Nonresidential mortgage		2,476		87		-		456			2,845
Residential construction and land		37		-		-		8			45
Commercial construction		392		-		-		(330	)		62
Multi-family		139		24		7		(61	)		61
Home equity		275		44		-		141			372
Consumer installment		222		171		55		98			204
Commercial loans		809		205		4		182			790
Unallocated		63		-		-		159			222
Total	$	7,040	$	875	$	67	$	1,109		$	7,341

	Allowance for Loan Losses				Loans Receivable
	Ending Balance June 30, 2014 Impairment Analysis				Ending Balance June 30, 2014 Impairment Analysis
(In thousands)	Individually Evaluated		Collectively Evaluated		Individually 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