Loans (Tables)

12 Months Ended

Jun. 30, 2018

Loans [Abstract]

Major Loan Segments and Classes

Loan segments and classes at June 30, 2018 and 2017 are summarized as follows:

	At June 30,
(In thousands)	2018			2017
Residential real estate:
Residential real estate	$	255,848		$	245,331
Residential construction and land		9,951			7,160
Multi-family		14,961			9,199
Commercial real estate:
Commercial real estate		283,935			257,964
Commercial construction		39,366			28,430
Consumer loan:
Home equity		21,919			21,076
Consumer installment		5,017			4,790
Commercial loans		84,644			60,381
Total gross loans		715,641			634,331
Allowance for loan losses		(12,024	)		(11,022	)
Deferred fees and costs		814			878
Loans receivable, net	$	704,431		$	624,187

Loan Balances by Internal Credit Quality Indicator

Loan balances by internal credit quality indicator as of June 30, 2018 are shown below.

(In thousands)	Performing		Watch		Special Mention		Substandard		Total
Residential real estate	$	252,811	$	577	$	88	$	2,372	$	255,848
Residential construction and land		9,951		-		-		-		9,951
Multi-family		12,743		-		2,132		86		14,961
Commercial real estate		273,077		317		8,994		1,547		283,935
Commercial construction		39,190		-		-		176		39,366
Home equity		21,170		128		-		621		21,919
Consumer installment		4,969		30		-		18		5,017
Commercial loans		83,148		195		457		844		84,644
Total gross loans	$	697,059	$	1,247	$	11,671	$	5,664	$	715,641

Loan balances by internal credit quality indicator as of 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 as of June 30, 2018:

(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	$	1,617	$	458	$	1,211	$	3,286	$	252,562	$	255,848	$	1,778
Residential construction and land		-		-		-		-		9,951		9,951		-
Multi-family		-		-		-		-		14,961		14,961		-
Commercial real estate		1,568		487		568		2,623		281,312		283,935		1,147
Commercial construction		-		-		-		-		39,366		39,366		-
Home equity		38		128		299		465		21,454		21,919		298
Consumer installment		3		30		8		41		4,976		5,017		18
Commercial loans		250		195		182		627		84,017		84,644		276
Total gross loans	$	3,476	$	1,298	$	2,268	$	7,042	$	708,599	$	715,641	$	3,517

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

(In thousands)	2018		2017
Interest income that would have been recorded if loans had been performing in accordance with original terms	$	230	$	227
Interest income that was recorded on nonaccrual loans		125		148

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, 2018						For the year ended June 30, 2018
(In thousands)	Recorded Investment		Unpaid Principal		Related Allowance		Average Recorded Investment		Interest Income Recognized
With no related allowance recorded:
Residential real estate	$	22	$	22	$	-	$	2	$	3
Commercial real estate		799		799		-		803		29
Home equity		181		181		-		182		-
Commercial loans		347		347		-		328		-
Impaired loans with no allowance		1,349		1,349		-		1,315		32
With an allowance recorded:
Residential real estate		1,922		1,922		332		1,731		52
Commercial real estate		379		379		60		409		-
Commercial construction		176		176		29		176		-
Home equity		322		322		61		324		16
Impaired loans with allowance		2,799		2,799		482		2,640		68
Total impaired:
Residential real estate		1,944		1,944		332		1,733		55
Commercial real estate		1,178		1,178		60		1,212		29
Commercial construction		176		176		29		176		-
Home equity		503		503		61		506		16
Commercial loans		347		347		-		328		-
Total impaired loans	$	4,148	$	4,148	$	482	$	3,955	$	100

	As of June 30, 2017						For the year ended June 30, 2017
(In thousands)	Recorded Investment		Unpaid Principal		Related Allowance		Average Recorded Investment		Interest Income Recognized
With no related allowance recorded:
Residential real estate	$	-	$	-	$	-	$	176	$	-
Commercial real estate		809		809		-		704		33
Home equity		186		186		-		64		9
Commercial loans		186		186		-		111		8
Impaired loans with no allowance		1,181		1,181		-		1,055		50
With an allowance recorded:
Residential real estate		1,455		1,455		278		1,302		51
Commercial real estate		440		440		135		922		34
Commercial construction		176		176		23		15		-
Commercial loans		-		-		-		41		2
Impaired loans with allowance		2,071		2,071		436		2,280		87
Total impaired loans:
Residential real estate		1,455		1,455		278		1,478		51
Commercial real estate		1,249		1,249		135		1,626		67
Commercial construction		176		176		23		15		-
Home equity		186		186		-		64		9
Commercial loans		186		186		-		152		10
Total impaired loans	$	3,252	$	3,252	$	436	$	3,335	$	137

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 year ended June 30, 2018
Residential		1	$	184	$	184	$	184
Home equity		1		325		325		322

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 class during and at the periods indicated.  The allowance is allocated to each loan class based on historical loss experience, current economic conditions, and other considerations.

	Activity for the year ended June 30, 2018
(In thousands)	Balance June 30, 2017		Charge-offs		Recoveries		Provision			Balance June 30, 2018
Residential real estate	$	2,289	$	141	$	-	$	(32	)	$	2,116
Residential construction and land		89		-		-		25			114
Multi-family		43		-		-		119			162
Commercial real estate		5,589		-		-		390			5,979
Commercial construction		687		-		-		263			950
Home equity		234		-		-		83			317
Consumer installment		231		318		85		226			224
Commercial loans		1,680		159		5		602			2,128
Unallocated		180		-		-		(146	)		34
Total	$	11,022	$	618	$	90	$	1,530		$	12,024

	Activity for the year ended June 30, 2017
(In thousands)	Balance June 30, 2016		Charge-offs		Recoveries		Provision			Balance June 30, 2017
Residential real estate	$	2,396	$	90	$	-	$	(17	)	$	2,289
Residential construction and land		75		-		-		14			89
Multi-family		22		-		-		21			43
Commercial real estate		4,541		39		-		1,087			5,589
Commercial construction		502		-		-		185			687
Home equity		309		-		-		(75	)		234
Consumer installment		228		270		88		185			231
Commercial loans		1,412		66		3		331			1,680
Unallocated		-		-		-		180			180
Total	$	9,485	$	465	$	91	$	1,911		$	11,022

	Allowance for Loan Losses				Loans Receivable
	Ending Balance June 30, 2018 Impairment Analysis				Ending Balance June 30, 2018 Impairment Analysis
(In thousands)	Individually Evaluated		Collectively Evaluated		Individually Evaluated		Collectively Evaluated
Residential real estate	$	332	$	1,784	$	1,944	$	253,904
Residential construction and land		-		114		-		9,951
Multi-family		-		162		-		14,961
Commercial real estate		60		5,919		1,178		282,757
Commercial construction		29		921		176		39,190
Home equity		61		256		503		21,416
Consumer installment		-		224		-		5,017
Commercial loans		-		2,128		347		84,297
Unallocated		-		34		-		-
Total	$	482	$	11,542	$	4,148	$	711,493

	Allowance for Loan Losses				Loans Receivable
	Ending Balance June 30, 2017 Impairment Analysis				Ending Balance 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

Foreclosed Real Estate

Foreclosed real estate (FRE)

FRE consists of properties acquired through mortgage loan foreclosure proceedings or in full or partial satisfaction of loans. The following table sets forth information regarding FRE as of June 30, 2018 and 2017:

(in thousands)	2018		2017
Residential real estate	$	119	$	-
Commercial real estate		-		799
Total foreclosed real estate	$	119	$	799