Loans (Tables)

12 Months Ended

Jun. 30, 2019

Loans [Abstract]

Major Loan Segments and Classes

Loan segments and classes at June 30, 2019 and 2018 are summarized as follows:

	At June 30,
(In thousands)	2019			2018
Residential real estate:
Residential real estate	$	267,802		$	255,848
Residential construction and land		7,462			9,951
Multi-family		24,592			14,961
Commercial real estate:
Commercial real estate		329,668			283,935
Commercial construction		36,361			39,366
Consumer loan:
Home equity		23,185			21,919
Consumer installment		5,481			5,017
Commercial loans		103,554			84,644
Total gross loans		798,105			715,641
Allowance for loan losses		(13,200	)		(12,024	)
Deferred fees and costs		833			814
Loans receivable, net	$	785,738		$	704,431

Loan Balances by Internal Credit Quality Indicator

Loan balances by internal credit quality indicator as of June 30, 2019 are shown below.

(In thousands)	Performing		Watch		Special Mention		Substandard		Total
Residential real estate	$	264,138	$	874	$	86	$	2,704	$	267,802
Residential construction and land		7,462		-		-		-		7,462
Multi-family		22,544		137		1,835		76		24,592
Commercial real estate		318,703		616		7,435		2,914		329,668
Commercial construction		36,259		-		-		102		36,361
Home equity		22,392		20		-		773		23,185
Consumer installment		5,461		14		-		6		5,481
Commercial loans		102,103		261		1,082		108		103,554
Total gross loans	$	779,062	$	1,922	$	10,438	$	6,683	$	798,105

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

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, 2019:

(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	$	2,144	$	870	$	1,385	$	4,399	$	263,403	$	267,802	$	2,474
Residential construction and land		-		-		-		-		7,462		7,462		-
Multi-family		1		137		-		138		24,454		24,592		-
Commercial real estate		280		1,108		102		1,490		328,178		329,668		598
Commercial construction		-		-		-		-		36,361		36,361		-
Home equity		16		136		309		461		22,724		23,185		452
Consumer installment		32		14		6		52		5,429		5,481		6
Commercial loans		430		342		28		800		102,754		103,554		108
Total gross loans	$	2,903	$	2,607	$	1,830	$	7,340	$	790,765	$	798,105	$	3,638

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

Nonaccrual Loans, Interest Income Data

The table below details additional information related to nonaccrual loans:

(In thousands)	2019		2018
Interest income that would have been recorded if loans had been performing in accordance with original terms	$	257	$	230
Interest income that was recorded on nonaccrual loans		146		125

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, 2019						For the year ended June 30, 2019
(In thousands)	Recorded Investment		Unpaid Principal		Related Allowance		Average Recorded Investment		Interest Income Recognized
With no related allowance recorded:
Residential real estate	$	727	$	727	$	-	$	170	$	20
Commercial real estate		717		717		-		915		57
Commercial Construction		-		-		-		34		-
Home equity		309		309		-		288		-
Commercial loans		141		141		-		150		-
Impaired loans with no allowance		1,894		1,894		-		1,557		77
With an allowance recorded:
Residential real estate		1,420		1,420		188		1,809		61
Commercial real estate		-		-		-		91		-
Commercial construction		102		102		2		111		-
Home equity		348		348		59		338		19
Commercial Loans		130		130		13		76		3
Impaired loans with allowance		2,000		2,000		262		2,425		83
Total impaired:
Residential real estate		2,147		2,147		188		1,979		81
Commercial real estate		717		717		-		1,006		57
Commercial construction		102		102		2		145		-
Home equity		657		657		59		626		19
Commercial loans		271		271		13		226		3
Total impaired loans	$	3,894	$	3,894	$	262	$	3,982	$	160

	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 loans:
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

Loans Modified as Troubled Debt Restructuring

The tables below detail 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, 2019
Commercial loans		1	$	127	$	131	$	131
Residential		1		294		169		169

(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, 2019
(In thousands)	Balance June 30, 2018		Charge-offs		Recoveries		Provision			Balance June 30, 2019
Residential real estate	$	2,116	$	287	$	13	$	184		$	2,026
Residential construction and land		114		-		-		(27	)		87
Multi-family		162		-		-		18			180
Commercial real estate		5,979		74		-		1,205			7,110
Commercial construction		950		-		-		(78	)		872
Home equity		317		-		-		(3	)		314
Consumer installment		224		374		137		263			250
Commercial loans		2,128		51		153		131			2,361
Unallocated		34		-		-		(34	)		-
Total	$	12,024	$	786	$	303	$	1,659		$	13,200

	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

	Allowance for Loan Losses				Loans Receivable
	Ending Balance June 30, 2019 Impairment Analysis				Ending Balance June 30, 2019 Impairment Analysis
(In thousands)	Individually Evaluated		Collectively Evaluated		Individually Evaluated		Collectively Evaluated
Residential real estate	$	188	$	1,838	$	2,147	$	265,655
Residential construction and land		-		87		-		7,462
Multi-family		-		180		-		24,592
Commercial real estate		-		7,110		717		328,951
Commercial construction		2		870		102		36,259
Home equity		59		255		657		22,528
Consumer installment		-		250		-		5,481
Commercial loans		13		2,348		271		103,283
Unallocated		-		-		-		-
Total	$	262	$	12,938	$	3,894	$	794,211

	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

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, 2019 and 2018:

(in thousands)	2019		2018
Residential real estate	$	53	$	119
Total foreclosed real estate	$	53	$	119