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Loans and Allowance for Loan Losses (Tables)
 6 Months Ended
Dec. 31, 2016
Loans and Allowance for Loan Losses [Abstract]  
Major Loan Segments and Classes
Loan segments and classes at December 31, 2016 and June 30, 2016 are summarized as follows:

(In thousands)
 
December 31, 2016
  
June 30, 2016
 
Residential real estate:
      
Residential real estate
 
$
238,431
  
$
234,992
 
Residential construction and land
  
4,980
   
5,575
 
Multi-family
  
3,904
   
3,918
 
Commercial real estate:
        
Commercial real estate
  
246,306
   
192,678
 
Commercial construction
  
25,651
   
20,159
 
Consumer loan:
        
Home equity
  
20,660
   
20,893
 
Consumer installment
  
4,714
   
4,350
 
Commercial loans
  
56,236
   
48,725
 
Total gross loans
  
600,882
   
531,290
 
Allowance for loan losses
  
(10,421
)
  
(9,485
)
Deferred fees and costs
  
866
   
959
 
Loans receivable, net
 
$
591,327
  
$
522,764
 
Loan Balances by Internal Credit Quality Indicator
Loan balances by internal credit quality indicator as of December 31, 2016 are shown below.


(In thousands)
 
Performing
  
Watch
  
Special Mention
  
Substandard
  
Total
 
Residential real estate
 
$
235,628
  
$
755
  
$
93
  
$
1,955
  
$
238,431
 
Residential construction and land
  
4,980
   
-
   
-
   
-
   
4,980
 
Multi-family
  
3,810
   
-
   
-
   
94
   
3,904
 
Commercial real estate
  
243,664
   
100
   
178
   
2,364
   
246,306
 
Commercial construction
  
25,651
   
-
   
-
   
-
   
25,651
 
Home equity
  
20,469
   
-
   
-
   
191
   
20,660
 
Consumer installment
  
4,688
   
26
   
-
   
-
   
4,714
 
Commercial loans
  
54,845
   
72
   
347
   
972
   
56,236
 
Total gross loans
 
$
593,735
  
$
953
  
$
618
  
$
5,576
  
$
600,882
 
 
Loan balances by internal credit quality indicator as of June 30, 2016 are shown below.

(In thousands)
 
Performing
  
Watch
  
Special Mention
  
Substandard
  
Total
 
Residential real estate
 
$
232,321
  
$
757
  
$
94
  
$
1,820
  
$
234,992
 
Residential construction and land
  
5,575
   
-
   
-
   
-
   
5,575
 
Multi-family
  
3,820
   
-
   
-
   
98
   
3,918
 
Commercial real estate
  
190,293
   
52
   
531
   
1,802
   
192,678
 
Commercial construction
  
20,159
   
-
   
-
   
-
   
20,159
 
Home equity
  
20,555
   
321
   
12
   
5
   
20,893
 
Consumer installment
  
4,340
   
10
   
-
   
-
   
4,350
 
Commercial loans
  
47,598
   
26
   
8
   
1,093
   
48,725
 
Total gross loans
 
$
524,661
  
$
1,166
  
$
645
  
$
4,818
  
$
531,290
 
Delinquent and/or Nonaccrual Loans by Past Due Status
The following table sets forth information regarding delinquent and/or nonaccrual loans as of December 31, 2016:
 
(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 real estate
 
$
928
  
$
455
  
$
1,038
  
$
2,421
  
$
236,010
  
$
238,431
  
$
1,351
 
Residential construction and land
  
18
   
-
   
-
   
18
   
4,962
   
4,980
   
-
 
Multi-family
  
-
   
-
   
-
   
-
   
3,904
   
3,904
   
-
 
Commercial real estate
  
1,007
   
959
   
613
   
2,579
   
243,727
   
246,306
   
1,936
 
Commercial construction
  
-
   
-
   
-
   
-
   
25,651
   
25,651
   
-
 
Home equity
  
25
   
-
   
191
   
216
   
20,444
   
20,660
   
191
 
Consumer installment
  
51
   
26
   
-
   
77
   
4,637
   
4,714
   
-
 
Commercial loans
  
458
   
72
   
116
   
646
   
55,590
   
56,236
   
276
 
Total gross loans
 
$
2,487
  
$
1,512
  
$
1,958
  
$
5,957
  
$
594,925
  
$
600,882
  
$
3,754
 
 
The following table sets forth information regarding delinquent and/or nonaccrual loans as of June 30, 2016:

(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 real estate
 
$
1,533
  
$
637
  
$
938
  
$
3,108
  
$
231,884
  
$
234,992
  
$
1,207
 
Residential construction and land
  
-
   
-
   
-
   
-
   
5,575
   
5,575
   
-
 
Multi-family
  
47
   
-
   
-
   
47
   
3,871
   
3,918
   
-
 
Commercial real estate
  
324
   
793
   
590
   
1,707
   
190,971
   
192,678
   
1,899
 
Commercial construction
  
-
   
-
   
-
   
-
   
20,159
   
20,159
   
-
 
Home equity
  
17
   
321
   
17
   
355
   
20,538
   
20,893
   
18
 
Consumer installment
  
34
   
10
   
-
   
44
   
4,306
   
4,350
   
-
 
Commercial loans
  
392
   
112
   
-
   
504
   
48,221
   
48,725
   
202
 
Total gross loans
 
$
2,347
  
$
1,873
  
$
1,545
  
$
5,765
  
$
525,525
  
$
531,290
  
$
3,326
 
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 three months
ended December 31,
  
For the six months
ended December 31
 
(In thousands)
 
2016
  
2015
  
2016
  
2015
 
Interest income that would have been recorded if loans had been performing in accordance with original terms
 
$
56
  
$
58
  
$
136
  
$
159
 
Interest income that was recorded on nonaccrual loans
  
26
   
50
   
54
   
99
 
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, 2016
  
For the three months ended
December 31, 2016
  
For the six months ended
December 31, 2016
 
(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 real estate
 
$
266
  
$
266
  
$
-
  
$
266
  
$
-
  
$
266
  
$
-
 
Commercial real estate
  
427
   
427
   
-
   
821
   
4
   
921
   
14
 
Home equity
  
-
   
-
   
-
   
2
   
-
   
4
   
-
 
Commercial loans
  
195
   
195
   
-
   
65
   
1
   
33
   
1
 
Impaired loans with no allowance
  
888
   
888
   
-
   
1,154
   
5
   
1,224
   
15
 
                             
With an allowance recorded:
                            
Residential real estate
  
1,235
   
1,235
   
244
   
1,238
   
12
   
1,241
   
24
 
Commercial real estate
  
1,450
   
1,656
   
221
   
749
   
7
   
576
   
11
 
Commercial loans
  
81
   
81
   
2
   
81
   
-
   
82
   
2
 
Impaired loans with allowance
  
2,766
   
2,972
   
467
   
2,068
   
19
   
1,899
   
37
 
                             
Total impaired:
                            
Residential real estate
  
1,501
   
1,501
   
244
   
1,504
   
12
   
1,507
   
24
 
Commercial real estate
  
1,877
   
2,083
   
221
   
1,570
   
11
   
1,497
   
25
 
Home equity
  
-
   
-
   
-
   
2
   
-
   
4
   
-
 
Commercial loans
  
276
   
276
   
2
   
146
   
1
   
115
   
3
 
Total impaired loans
 
$
3,654
  
$
3,860
  
$
467
  
$
3,222
  
$
24
  
$
3,123
  
$
52
 

  
As of June 30, 2016
  
For the three months ended
December 31, 2015
  
For the six months ended
December 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 real estate
 
$
266
  
$
266
  
$
-
  
$
185
  
$
-
  
$
267
  
$
2
 
Commercial real estate
  
1,024
   
1,231
   
-
   
1,086
   
11
   
1,143
   
17
 
Home equity
  
5
   
5
   
-
   
46
   
-
   
90
   
1
 
Impaired loans with no allowance
  
1,295
   
1,502
   
-
   
1,317
   
11
   
1,500
   
20
 
                             
With an allowance recorded:
                            
Residential real estate
  
1,457
   
1,457
   
267
   
1,382
   
14
   
1,393
   
28
 
Commercial real estate
  
405
   
405
   
61
   
461
   
6
   
566
   
12
 
Commercial loans
  
85
   
85
   
2
   
89
   
2
   
91
   
3
 
Impaired loans with allowance
  
1,947
   
1,947
   
330
   
1,932
   
22
   
2,050
   
43
 
                             
Total impaired:
                            
Residential mortgage
  
1,723
   
1,723
   
267
   
1,567
   
14
   
1,660
   
30
 
Nonresidential mortgage
  
1,429
   
1,636
   
61
   
1,547
   
17
   
1,709
   
29
 
Home equity
  
5
   
5
   
-
   
46
   
-
   
90
   
1
 
Commercial loans
  
85
   
85
   
2
   
89
   
2
   
91
   
3
 
Total impaired loans
 
$
3,242
  
$
3,449
  
$
330
  
$
3,249
  
$
33
  
$
3,550
  
$
63
 
Activity and Allocation of Allowance for Loan Losses
The allowance is allocated to each loan category based on historical loss experience and economic conditions.


  
Activity for the three months ended December 31, 2016
 
(In thousands)
 
Balance at
September 30, 2016
  
Charge-offs
  
Recoveries
  
Provision
  
Balance at
December 31, 2016
 
Residential real estate
 
$
2,242
  
$
90
  
$
-
  
$
82
  
$
2,234
 
Residential construction and land
  
63
   
-
   
-
   
-
   
63
 
Multi-family
  
18
   
-
   
-
   
-
   
18
 
Commercial real estate
  
4,981
   
-
   
-
   
384
   
5,365
 
Commercial construction
  
628
   
-
   
-
   
(25
)
  
603
 
Home equity
  
251
   
-
   
-
   
6
   
257
 
Consumer installment
  
168
   
69
   
18
   
107
   
224
 
Commercial loans
  
1,492
   
-
   
-
   
21
   
1,513
 
Unallocated
  
133
   
-
   
-
   
11
   
144
 
Total
 
$
9,976
  
$
159
  
$
18
  
$
586
  
$
10,421
 

  
Activity for the six months ended December 31, 2016
 
(In thousands)
 
Balance at
June 30, 2016
  
Charge-offs
  
Recoveries
  
Provision
  
Balance at
December 31, 2016
 
Residential real estate
 
$
2,396
  
$
90
  
$
-
  
$
(72
)
 
$
2,234
 
Residential construction and land
  
75
   
-
   
-
   
(12
)
  
63
 
Multi-family
  
22
   
-
   
-
   
(4
)
  
18
 
Commercial real estate
  
4,541
   
-
   
-
   
824
   
5,365
 
Commercial construction
  
502
   
-
   
-
   
101
   
603
 
Home equity
  
309
   
-
   
-
   
(52
)
  
257
 
Consumer installment
  
228
   
141
   
35
   
102
   
224
 
Commercial loans
  
1,412
   
-
   
3
   
98
   
1,513
 
Unallocated
  
-
   
-
   
-
   
144
   
144
 
Total
 
$
9,485
  
$
231
  
$
38
  
$
1,129
  
$
10,421
 
 
  
Allowance for Loan Losses
  
Loans Receivable
 
  
Ending Balance
December 31, 2016
Impairment Analysis
  
Ending Balance
December 31, 2016
Impairment Analysis
 
(In thousands)
 
Individually
Evaluated
  
Collectively
Evaluated
  
Individually
Evaluated
  
Collectively
Evaluated
 
Residential real estate
 
$
244
  
$
1,990
  
$
1,501
  
$
236,930
 
Residential construction and land
  
-
   
63
   
-
   
4,980
 
Multi-family
  
-
   
18
   
-
   
3,904
 
Commercial real estate
  
221
   
5,144
   
1,876
   
244,430
 
Commercial construction
  
-
   
603
   
-
   
25,651
 
Home equity
  
-
   
257
   
-
   
20,660
 
Consumer installment
  
-
   
224
   
-
   
4,714
 
Commercial loans
  
2
   
1,511
   
276
   
55,960
 
Unallocated
  
-
   
144
   
-
   
-
 
Total
 
$
467
  
$
9,954
  
$
3,653
  
$
597,229
 
 
  
Activity for the three months ended December 31, 2015
 
(In thousands)
 
Balance at
September 30, 2015
  
Charge-offs
  
Recoveries
  
Provision
  
Balance at
December 31, 2015
 
Residential real estate
 
$
2,386
  
$
-
  
$
-
  
$
6
  
$
2,392
 
Residential construction and land
  
62
   
-
   
-
   
8
   
70
 
Multi-family
  
25
   
-
   
-
   
-
   
25
 
Commercial real estate
  
3,814
   
148
   
-
   
354
   
4,020
 
Commercial construction
  
162
   
-
   
-
   
169
   
331
 
Home equity
  
319
   
-
   
-
   
(14
)
  
305
 
Consumer installment
  
240
   
65
   
15
   
(2
)
  
188
 
Commercial loans
  
1,252
   
-
   
-
   
20
   
1,272
 
Unallocated
  
206
   
-
   
-
   
(198
)
  
8
 
Total
 
$
8,466
  
$
213
  
$
15
  
$
343
  
$
8,611
 

  
Activity for the six months ended December 31, 2015
 
(In thousands)
 
Balance at
June 30, 2015
  
Charge-offs
  
Recoveries
  
Provision
  
Balance at
 December 31, 2015
 
Residential real estate
 
$
2,454
  
$
-
  
$
-
  
$
(62
)
 
$
2,392
 
Residential construction and land
  
50
   
-
   
-
   
20
   
70
 
Multi-family
  
40
   
-
   
-
   
(15
)
  
25
 
Commercial real estate
  
3,699
   
162
   
17
   
466
   
4,020
 
Commercial construction
  
233
   
-
   
-
   
98
   
331
 
Home equity
  
314
   
-
   
-
   
(9
)
  
305
 
Consumer installment
  
223
   
143
   
40
   
68
   
188
 
Commercial loans
  
1,129
   
-
   
-
   
143
   
1,272
 
Unallocated
  
-
   
-
   
-
   
8
   
8
 
Total
 
$
8,142
  
$
305
  
$
57
  
$
717
  
$
8,611
 
 
  
Allowance for Loan Losses
  
Loans Receivable
 
  
Ending Balance
June 30, 2016
Impairment Analysis
  
Ending Balance
June 30, 2016
Impairment Analysis
 
(In thousands)
 
Individually
Evaluated
  
Collectively
Evaluated
  
Individually
Evaluated
  
Collectively
Evaluated
 
Residential real estate
 
$
267
  
$
2,129
  
$
1,723
  
$
233,269
 
Residential construction and land
  
-
   
75
   
-
   
5,575
 
Multi-family
  
-
   
22
   
-
   
3,918
 
Commercial real estate
  
61
   
4,480
   
1,429
   
191,249
 
Commercial construction
  
-
   
502
   
-
   
20,159
 
Home equity
  
-
   
309
   
5
   
20,888
 
Consumer installment
  
-
   
228
   
-
   
4,350
 
Commercial loans
  
2
   
1,410
   
85
   
48,640
 
Unallocated
  
-
   
-
   
-
   
-
 
Total
 
$
330
  
$
9,155
  
$
3,242
  
$
528,048
 
Schedule of Foreclosed Real Estate
The following table sets forth information regarding FRE as of December 31, 2016 and June 30, 2016:

(in thousands)
 
December 31, 2016
  
June 30, 2016
 
Residential real estate
 
$
130
  
$
61
 
Land
  
-
   
65
 
Commercial real estate
  
208
   
244
 
Total foreclosed real estate
 
$
338
  
$
370