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Loans and Allowance for Loan Losses (Tables)
6 Months Ended
Dec. 31, 2017
Loans and Allowance for Loan Losses [Abstract]  
Major Loan Segments and Classes
Loan segments and classes at December 31, 2017 and June 30, 2017 are summarized as follows:

(In thousands)
 
December 31, 2017
  
June 30, 2017
 
Residential real estate:
      
Residential real estate
 
$
252,015
  
$
245,331
 
Residential construction and land
  
7,391
   
7,160
 
Multi-family
  
13,707
   
9,199
 
Commercial real estate:
        
Commercial real estate
  
272,253
   
257,964
 
Commercial construction
  
24,901
   
28,430
 
Consumer loan:
        
Home equity
  
21,090
   
21,076
 
Consumer installment
  
4,925
   
4,790
 
Commercial loans
  
78,153
   
60,381
 
Total gross loans
  
674,435
   
634,331
 
Allowance for loan losses
  
(11,352
)
  
(11,022
)
Deferred fees and costs
  
790
   
878
 
Loans receivable, net
 
$
663,873
  
$
624,187
 
Loan Balances by Internal Credit Quality Indicator
Loan balances by internal credit quality indicator at December 31, 2017 are shown below.
 
(In thousands)
 
Performing
  
Watch
  
Special Mention
  
Substandard
  
Total
 
Residential real estate
 
$
248,721
  
$
930
  
$
90
  
$
2,274
  
$
252,015
 
Residential construction and land
  
7,391
   
-
   
-
   
-
   
7,391
 
Multi-family
  
12,866
   
-
   
756
   
85
   
13,707
 
Commercial real estate
  
260,337
   
-
   
10,217
   
1,699
   
272,253
 
Commercial construction
  
24,725
   
-
   
-
   
176
   
24,901
 
Home equity
  
20,433
   
-
   
-
   
657
   
21,090
 
Consumer installment
  
4,915
   
-
   
-
   
10
   
4,925
 
Commercial loans
  
77,042
   
16
   
242
   
853
   
78,153
 
Total gross loans
 
$
656,430
  
$
946
  
$
11,305
  
$
5,754
  
$
674,435
 
 
Loan balances by internal credit quality indicator at June 30, 2017 are shown below.

(In thousands)
 
Performing
  
Watch
  
Special Mention
  
Substandard
  
Total
 
Residential real estate
 
$
242,592
  
$
813
  
$
91
  
$
1,835
  
$
245,331
 
Residential construction and land
  
7,160
   
-
   
-
   
-
   
7,160
 
Multi-family
  
9,110
   
-
   
-
   
89
   
9,199
 
Commercial real estate
  
255,090
   
419
   
404
   
2,051
   
257,964
 
Commercial construction
  
28,254
   
-
   
-
   
176
   
28,430
 
Home equity
  
20,858
   
-
   
-
   
218
   
21,076
 
Consumer installment
  
4,770
   
10
   
-
   
10
   
4,790
 
Commercial loans
  
59,030
   
-
   
60
   
1,291
   
60,381
 
Total gross loans
 
$
626,864
  
$
1,242
  
$
555
  
$
5,670
  
$
634,331
 
Delinquent and/or Nonaccrual Loans by Past Due Status
The following table sets forth information regarding delinquent and/or nonaccrual loans at December 31, 2017:
 
(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
 
$
2,592
  
$
794
  
$
1,187
  
$
4,573
  
$
247,442
  
$
252,015
  
$
1,752
 
Residential construction and land
  
-
   
-
   
-
   
-
   
7,391
   
7,391
   
-
 
Multi-family
  
-
   
-
   
-
   
-
   
13,707
   
13,707
   
-
 
Commercial real estate
  
1,216
   
806
   
391
   
2,413
   
269,840
   
272,253
   
1,108
 
Commercial construction
  
-
   
-
   
176
   
176
   
24,725
   
24,901
   
176
 
Home equity
  
94
   
119
   
214
   
427
   
20,663
   
21,090
   
333
 
Consumer installment
  
104
   
-
   
10
   
114
   
4,811
   
4,925
   
10
 
Commercial loans
  
380
   
118
   
-
   
498
   
77,655
   
78,153
   
284
 
Total gross loans
 
$
4,386
  
$
1,837
  
$
1,978
  
$
8,201
  
$
666,234
  
$
674,435
  
$
3,663
 
 
The following table sets forth information regarding delinquent and/or nonaccrual loans at June 30, 2017:

(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
 
$
2,088
  
$
515
  
$
935
  
$
3,538
  
$
241,793
  
$
245,331
  
$
1,240
 
Residential construction and land
  
-
   
-
   
-
   
-
   
7,160
   
7,160
   
-
 
Multi-family
  
-
   
-
   
-
   
-
   
9,199
   
9,199
   
-
 
Commercial real estate
  
74
   
1,070
   
540
   
1,684
   
256,280
   
257,964
   
1,452
 
Commercial construction
  
-
   
176
   
-
   
176
   
28,254
   
28,430
   
176
 
Home equity
  
220
   
186
   
33
   
439
   
20,637
   
21,076
   
218
 
Consumer installment
  
22
   
10
   
10
   
42
   
4,748
   
4,790
   
10
 
Commercial loans
  
18
   
186
   
202
   
406
   
59,975
   
60,381
   
476
 
Total gross loans
 
$
2,422
  
$
2,143
  
$
1,720
  
$
6,285
  
$
628,046
  
$
634,331
  
$
3,572
 
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)
 
2017
  
2016
  
2017
  
2016
 
Interest income that would have been recorded if loans had been performing in accordance with original terms
 
$
59
  
$
56
  
$
137
  
$
136
 
Interest income that was recorded on nonaccrual loans
  
31
   
26
   
65
   
54
 
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, 2017
  
For the three months ended
December 31, 2017
  
For the six months ended
December 31, 2017
 
(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:
                
Commercial real estate
 
$
801
  
$
801
  
$
-
  
$
803
  
$
7
  
$
805
  
$
15
 
Home equity
  
181
   
181
   
-
   
181
   
-
   
182
   
-
 
Commercial loans
  
359
   
359
   
-
   
361
   
-
   
303
   
-
 
Impaired loans with no allowance
  
1,341
   
1,341
   
-
   
1,345
   
7
   
1,290
   
15
 
                             
With an allowance recorded:
                            
Residential real estate
  
1,819
   
1,819
   
348
   
1,668
   
15
   
1,602
   
26
 
Commercial real estate
  
413
   
413
   
101
   
418
   
-
   
424
   
-
 
Commercial construction
  
176
   
176
   
22
   
176
   
-
   
176
   
-
 
Home equity
  
324
   
324
   
62
   
324
   
5
   
324
   
8
 
Impaired loans with allowance
  
2,732
   
2,732
   
533
   
2,586
   
20
   
2,526
   
34
 
                             
Total impaired:
                            
Residential real estate
  
1,819
   
1,819
   
348
   
1,668
   
15
   
1,602
   
26
 
Commercial real estate
  
1,214
   
1,214
   
101
   
1,221
   
7
   
1,229
   
15
 
Commercial construction
  
176
   
176
   
22
   
176
   
-
   
176
   
-
 
Home equity
  
505
   
505
   
62
   
505
   
5
   
506
   
8
 
Commercial loans
  
359
   
359
   
-
   
361
   
-
   
303
   
-
 
Total impaired loans
 
$
4,073
  
$
4,073
  
$
533
  
$
3,931
  
$
27
  
$
3,816
  
$
49
 

  
As of June 30, 2017
  
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
  
$
-
 
Commercial real estate
  
809
   
809
   
-
   
821
   
4
   
921
   
14
 
Home equity
  
186
   
186
   
-
   
2
   
-
   
4
   
-
 
Commercial loans
  
186
   
186
   
-
   
65
   
1
   
33
   
1
 
Impaired loans with no allowance
  
1,181
   
1,181
   
-
   
1,154
   
5
   
1,224
   
15
 
                             
With an allowance recorded:
                            
Residential real estate
  
1,455
   
1,455
   
278
   
1,238
   
12
   
1,241
   
24
 
Commercial real estate
  
440
   
440
   
135
   
749
   
7
   
576
   
11
 
Commercial construction
  
176
   
176
   
23
   
-
   
-
   
-
   
-
 
Commercial loans
  
-
   
-
   
-
   
81
   
-
   
82
   
2
 
Impaired loans with allowance
  
2,071
   
2,071
   
436
   
2,068
   
19
   
1,899
   
37
 
                             
Total impaired:
                            
Residential real estate
  
1,455
   
1,455
   
278
   
1,504
   
12
   
1,507
   
24
 
Commercial real estate
  
1,249
   
1,249
   
135
   
1,570
   
11
   
1,497
   
25
 
Commercial construction
  
176
   
176
   
23
   
-
   
-
   
-
   
-
 
Home equity
  
186
   
186
   
-
   
2
   
-
   
4
   
-
 
Commercial loans
  
186
   
186
   
-
   
146
   
1
   
115
   
3
 
Total impaired loans
 
$
3,252
  
$
3,252
  
$
436
  
$
3,222
  
$
24
  
$
3,123
  
$
52
 
Loans Modified as Troubled Debt Restructuring
The table below details loans that have been modified as a troubled debt restructuring during the periods indicated.

(Dollars in thousands)
 
Number of
Contracts
  
Pre-Modification
Outstanding
Recorded
Investment
  
Post-Modification
Outstanding
Recorded
Investment
  
Current outstanding
Recorded
Investment
 
For the six months ended December 31, 2017
            
Home equity
  
1
  
$
325
  
$
325
  
$
324
 
                 
For the six months ended December 31, 2016
 
None
   
-
   
-
   
-
 
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, 2017
 
(In thousands)
 
Balance at
September 30, 2017
  
Charge-offs
  
Recoveries
  
Provision
  
Balance at
December 31, 2017
 
Residential real estate
 
$
2,076
  
$
27
  
$
-
  
$
50
  
$
2,099
 
Residential construction and land
  
93
   
-
   
-
   
(7
)
  
86
 
Multi-family
  
76
   
-
   
-
   
19
   
95
 
Commercial real estate
  
5,759
   
-
   
-
   
145
   
5,904
 
Commercial construction
  
750
   
-
   
-
   
(147
)
  
603
 
Home equity
  
315
   
-
   
-
   
(3
)
  
312
 
Consumer installment
  
203
   
89
   
18
   
120
   
252
 
Commercial loans
  
1,748
   
-
   
-
   
253
   
2,001
 
Unallocated
  
78
   
-
   
-
   
(78
)
  
-
 
Total
 
$
11,098
  
$
116
  
$
18
  
$
352
  
$
11,352
 
 
  
Activity for the six months ended December 31, 2017
 
(In thousands)
 
Balance at
June 30, 2017
  
Charge-offs
  
Recoveries
  
Provision
  
Balance at
December 31, 2017
 
Residential real estate
 
$
2,289
  
$
71
  
$
-
  
$
(119
)
 
$
2,099
 
Residential construction and land
  
89
   
-
   
-
   
(3
)
  
86
 
Multi-family
  
43
   
-
   
-
   
52
   
95
 
Commercial real estate
  
5,589
   
-
   
-
   
315
   
5,904
 
Commercial construction
  
687
   
-
   
-
   
(84
)
  
603
 
Home equity
  
234
   
-
   
-
   
78
   
312
 
Consumer installment
  
231
   
177
   
36
   
162
   
252
 
Commercial loans
  
1,680
   
157
   
-
   
478
   
2,001
 
Unallocated
  
180
   
-
   
-
   
(180
)
  
-
 
Total
 
$
11,022
  
$
405
  
$
36
  
$
699
  
$
11,352
 
 
  
Allowance for Loan Losses
  
Loans Receivable
 
  
Ending Balance At
December 31, 2017
Impairment Analysis
  
Ending Balance At
December 31, 2017
Impairment Analysis
 
(In thousands)
 
Individually
Evaluated
  
Collectively
Evaluated
  
Individually
Evaluated
  
Collectively
Evaluated
 
Residential real estate
 
$
348
  
$
1,751
  
$
1,819
  
$
250,196
 
Residential construction and land
  
-
   
86
   
-
   
7,391
 
Multi-family
  
-
   
95
   
-
   
13,707
 
Commercial real estate
  
101
   
5,803
   
1,214
   
271,039
 
Commercial construction
  
22
   
581
   
176
   
24,725
 
Home equity
  
62
   
250
   
505
   
20,585
 
Consumer installment
  
-
   
252
   
-
   
4,925
 
Commercial loans
  
-
   
2,001
   
359
   
77,794
 
Unallocated
  
-
   
-
   
-
   
-
 
Total
 
$
533
  
$
10,819
  
$
4,073
  
$
670,362
 

  
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 At
June 30, 2017
Impairment Analysis
  
Ending Balance At
June 30, 2017
Impairment Analysis
 
(In thousands)
 
Individually Evaluated
  
Collectively Evaluated
  
Individually Evaluated
  
Collectively Evaluated
 
Residential real estate
 
$
278
  
$
2,011
  
$
1,455
  
$
243,876
 
Residential construction and land
  
-
   
89
   
-
   
7,160
 
Multi-family
  
-
   
43
   
-
   
9,199
 
Commercial real estate
  
135
   
5,454
   
1,249
   
256,715
 
Commercial construction
  
23
   
664
   
176
   
28,254
 
Home equity
  
-
   
234
   
186
   
20,890
 
Consumer installment
  
-
   
231
   
-
   
4,790
 
Commercial loans
  
-
   
1,680
   
186
   
60,195
 
Unallocated
  
-
   
180
   
-
   
-
 
Total
 
$
436
  
$
10,586
  
$
3,252
  
$
631,079
 
Schedule of Foreclosed Real Estate
The following table sets forth information regarding FRE at December 31, 2017 and June 30, 2017:

(in thousands)
 
December 31, 2017
  
June 30, 2017
 
Residential real estate
 
$
79
  
$
-
 
Commercial real estate
  
826
   
799
 
Total foreclosed real estate
 
$
905
  
$
799