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Loans and Allowance for Loan Losses (Tables)
 3 Months Ended
Sep. 30, 2020
Loans and Allowance for Loan Losses [Abstract]  
Major Loan Segments and Classes
Loan segments and classes at September 30, 2020 and June 30, 2020 are summarized as follows:
(In thousands)
 
September 30, 2020
  
June 30, 2020
 
Residential real estate:
      
Residential real estate
 
$
289,502
  
$
279,332
 
Residential construction and land
  
9,777
   
11,847
 
Multi-family
  
26,241
   
25,104
 
Commercial real estate:
        
Commercial real estate
  
415,654
   
381,415
 
Commercial construction
  
71,206
   
74,920
 
Consumer loan:
        
Home equity
  
20,701
   
22,106
 
Consumer installment
  
5,180
   
4,817
 
Commercial loans
  
210,852
   
213,119
 
Total gross loans
  
1,049,113
   
1,012,660
 
Allowance for loan losses
  
(17,596
)
  
(16,391
)
Unearned origination fees and costs, net
  
(2,735
)
  
(2,747
)
Loans receivable, net
 
$
1,028,782
  
$
993,522
 
Loan Balances by Internal Credit Quality Indicator
Loan balances by internal credit quality indicator at September 30, 2020 are shown below.

(In thousands)
 
Performing
  
Watch
  
Special Mention
  
Substandard
  
Total
 
Residential real estate
 
$
285,478
  
$
615
  
$
82
  
$
3,327
  
$
289,502
 
Residential construction and land
  
9,777
   
-
   
-
   
-
   
9,777
 
Multi-family
  
24,480
   
-
   
1,641
   
120
   
26,241
 
Commercial real estate
  
398,526
   
-
   
13,075
   
4,053
   
415,654
 
Commercial construction
  
64,130
   
-
   
6,974
   
102
   
71,206
 
Home equity
  
20,127
   
-
   
-
   
574
   
20,701
 
Consumer installment
  
5,180
   
-
   
-
   
-
   
5,180
 
Commercial loans
  
201,883
   
24
   
3,722
   
5,223
   
210,852
 
Total gross loans
 
$
1,009,581
  
$
639
  
$
25,494
  
$
13,399
  
$
1,049,113
 

Loan balances by internal credit quality indicator at June 30, 2020 are shown below.

 
(In thousands)
 
Performing
  
Watch
  
Special Mention
  
Substandard
  
Total
 
Residential real estate
 
$
274,973
  
$
626
  
$
996
  
$
2,737
  
$
279,332
 
Residential construction and land
  
11,847
   
-
   
-
   
-
   
11,847
 
Multi-family
  
23,336
   
-
   
1,645
   
123
   
25,104
 
Commercial real estate
  
364,884
   
-
   
13,189
   
3,342
   
381,415
 
Commercial construction
  
67,844
   
-
   
6,974
   
102
   
74,920
 
Home equity
  
21,466
   
-
   
-
   
640
   
22,106
 
Consumer installment
  
4,792
   
25
   
-
   
-
   
4,817
 
Commercial loans
  
210,031
   
50
   
2,675
   
363
   
213,119
 
Total gross loans
 
$
979,173
  
$
701
  
$
25,479
  
$
7,307
  
$
1,012,660
 
Delinquent and/or Nonaccrual Loans by Past Due Status
The following table sets forth information regarding delinquent and/or nonaccrual loans at September 30, 2020:

(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
 
$
1,677 1,677
  
$
367
  
$
1,736
  
$
3,780
  
$
285,722
  
$
289,502
  
$
2,274
 
Residential construction and land
  
-
   
-
   
-
   
-
   
9,777
   
9,777
   
-
 
Multi-family
  
-
   
-
   
148
   
148
   
26,093
   
26,241
   
148
 
Commercial real estate
  
47
   
300
   
478
   
825
   
414,829
   
415,654
   
870
 
Commercial construction
  
-
   
-
   
-
   
-
   
71,206
   
71,206
   
-
 
Home equity
  
56
   
-
   
237
   
293
   
20,408
   
20,701
   
253
 
Consumer installment
  
61
   
-
   
-
   
61
   
5,119
   
5,180
   
-
 
Commercial loans
  
585
   
46
   
673
   
1,304
   
209,548
   
210,852
   
802
 
Total gross loans
 
$
2,426 2,426
  
$
713
  
$
3,272
  
$
6,411
  
$
1,042,702
  
$
1,049,113
  
$
4,347
 

The following table sets forth information regarding delinquent and/or nonaccrual loans at June 30, 2020:

(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
 
$
871
  
$
345
  
$
1,691
  
$
2,907
  
$
276,425
  
$
279,332
  
$
2,513
 
Residential construction and land
  
-
   
-
   
-
   
-
   
11,847
   
11,847
   
-
 
Multi-family
  
-
   
-
   
151
   
151
   
24,953
   
25,104
   
151
 
Commercial real estate
  
393
   
189
   
374
   
956
   
380,459
   
381,415
   
781
 
Commercial construction
  
-
   
-
   
-
   
-
   
74,920
   
74,920
   
-
 
Home equity
  
29
   
-
   
238
   
267
   
21,839
   
22,106
   
319
 
Consumer installment
  
36
   
25
   
-
   
61
   
4,756
   
4,817
   
-
 
Commercial loans
  
48
   
72
   
245
   
365
   
212,754
   
213,119
   
313
 
Total gross loans
 
$
1,377
  
$
631
  
$
2,699
  
$
4,707
  
$
1,007,953
  
$
1,012,660
  
$
4,077
 
Nonaccrual Loans, Interest Income Data
The table below details additional information related to nonaccrual loans for the three months ended September 30:

(In thousands)
 
2020
  
2019
 
Interest income that would have been recorded if loans had been performing in accordance with original terms
 
$
135
  
$
101
 
Interest income that was recorded on nonaccrual loans
  
38
   
50
 
Impaired Loans by Loan Portfolio Class
The tables below detail additional information on impaired loans at the date or periods indicated:

  
At September 30, 2020
  
For the three months ended
September 30, 2020
 
(In thousands)
 
Recorded Investment
  
Unpaid
Principal
  
Related Allowance
  
Average
Recorded Investment
  
Interest
Income Recognized
 
With no related allowance recorded:
          
Residential real estate
 
$
399
  
$
399
  
$
-
  
$
402
  
$
5
 
Multi-family
  
120
   
120
   
-
   
121
   
-
 
Commercial real estate
  
332
   
332
   
-
   
335
   
1
 
Home equity
  
128
   
128
   
-
   
128
   
-
 
Commercial loans
  
275
   
275
   
-
   
277
   
-
 
Total impaired loans with no allowance
  
1,254
   
1,254
   
-
   
1,263
   
6
 
                     
With an allowance recorded:
                    
Residential real estate
  
1,382
   
1,382
   
126
   
1,385
   
5
 
Commercial construction
  
102
   
102
   
15
   
102
   
-
 
Home equity
  
430
   
430
   
73
   
430
   
4
 
Total impaired loans with allowance
  
1,914
   
1,914
   
214
   
1,917
   
9
 
                     
Total impaired:
                    
Residential real estate
  
1,781
   
1,781
   
126
   
1,787
   
10
 
Multi-family
  
120
   
120
   
-
   
121
   
-
 
Commercial real estate
  
332
   
332
   
-
   
335
   
1
 
Commercial construction
  
102
   
102
   
15
   
102
   
-
 
Home equity
  
558
   
558
   
73
   
558
   
4
 
Commercial loans
  
275
   
275
   
-
   
277
   
-
 
Total impaired loans
 
$
3,168
  
$
3,168
  
$
214
  
$
3,180
  
$
15
 

  
As of June 30, 2020
  
For the three months ended September 30, 2019
 
(In thousands)
 
Recorded Investment
  
Unpaid Principal
  
Related Allowance
  
Average Recorded Investment
  
Interest Income Recognized
 
With no related allowance recorded:
          
Residential real estate
 
$
868
  
$
868
  
$
-
  
$
692
  
$
30
 
Multi-family
  
123
   
123
   
-
   
-
   
-
 
Commercial real estate
  
344
   
344
   
-
   
704
   
7
 
Home equity
  
128
   
128
   
-
   
266
   
-
 
Commercial loans
  
145
   
145
   
-
   
137
   
-
 
Impaired loans with no allowance
  
1,608
   
1,608
   
-
   
1,799
   
37
 
                     
With an allowance recorded:
                    
Residential real estate
  
995
   
995
   
127
   
1,087
   
24
 
Multi-family
  
-
   
-
   
-
   
-
   
-
 
Commercial real estate
  
-
   
-
   
-
   
-
   
-
 
Commercial construction
  
102
   
102
   
15
   
102
   
-
 
Home equity
  
431
   
431
   
73
   
330
   
5
 
Commercial Loans
  
134
   
134
   
13
   
130
   
1
 
Impaired loans with allowance
  
1,662
   
1,662
   
228
   
1,649
   
30
 
                     
Total impaired:
                    
Residential real estate
  
1,863
   
1,863
   
127
   
1,779
   
54
 
Multi-family
  
123
   
123
   
-
   
-
   
-
 
Commercial real estate
  
344
   
344
   
-
   
704
   
7
 
Commercial construction
  
102
   
102
   
15
   
102
   
-
 
Home equity
  
559
   
559
   
73
   
596
   
5
 
Commercial loans
  
279
   
279
   
13
   
267
   
1
 
Total impaired loans
 
$
3,270
  
$
3,270
  
$
228
  
$
3,448
  
$
67
 
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 September 30, 2020
 
(In thousands)
 
Balance June 30, 2020
  
Charge-offs
  
Recoveries
  
Provision
  
Balance September 30, 2020
 
Residential real estate
 
$
2,091
  
$
-
  
$
3
  
$
(631
)
 
$
1,463
 
Residential construction and land
  
141
   
-
   
-
   
(23
)
  
118
 
Multi-family
  
176
   
-
   
-
   
4
   
180
 
Commercial real estate
  
8,634
   
-
   
-
   
750
   
9,384
 
Commercial construction
  
2,053
   
-
   
-
   
(92
)
  
1,961
 
Home equity
  
295
   
-
   
-
   
(23
)
  
272
 
Consumer installment
  
197
   
61
   
20
   
194
   
350
 
Commercial loans
  
2,804
   
-
   
-
   
1,064
   
3,868
 
Total
 
$
16,391
  
$
61
  
$
23
  
$
1,243
  
$
17,596
 

  
Allowance for Loan Losses
  
Loans Receivable
 
  
Ending Balance At September 30, 2020
Impairment Analysis
  
Ending Balance At September 30, 2020
Impairment Analysis
 
(In thousands)
 
Individually
Evaluated
  
Collectively
Evaluated
  
Individually
Evaluated
  
Collectively Evaluated
 
Residential real estate
 
$
126
  
$
1,337
  
$
1,781
  
$
287,721
 
Residential construction and land
  
-
   
118
   
-
   
9,777
 
Multi-family
  
-
   
180
   
120
   
26,121
 
Commercial real estate
  
-
   
9,384
   
332
   
415,322
 
Commercial construction
  
15
   
1,946
   
102
   
71,104
 
Home equity
  
73
   
199
   
558
   
20,143
 
Consumer installment
  
-
   
350
   
-
   
5,180
 
Commercial loans
  
-
   
3,868
   
275
   
210,577
 
Total
 
$
214
  
$
17,382
  
$
3,168
  
$
1,045,945
 

  
Activity for the three months ended September 30, 2019
 
(In thousands)
 
Balance at
June 30, 2019
  
Charge-offs
  
Recoveries
  
Provision
  
Balance at
September 30, 2019
 
Residential real estate
 
$
2,026
  
$
53
  
$
-
  
$
(461
)
 
$
1,512
 
Residential construction and land
  
87
   
-
   
-
   
12
   
99
 
Multi-family
  
180
   
-
   
-
   
25
   
205
 
Commercial real estate
  
7,110
   
-
   
-
   
49
   
7,159
 
Commercial construction
  
872
   
-
   
-
   
419
   
1,291
 
Home equity
  
314
   
-
   
-
   
(7
)
  
307
 
Consumer installment
  
250
   
109
   
24
   
154
   
319
 
Commercial loans
  
2,361
   
199
   
30
   
360
   
2,552
 
Total
 
$
13,200
  
$
361
  
$
54
  
$
551
  
$
13,444
 

  
Allowance for Loan Losses
  
Loans Receivable
 
  
Ending Balance June 30, 2020
Impairment Analysis
  
Ending Balance June 30, 2020
Impairment Analysis
 
(In thousands)
 
Individually
Evaluated
  
Collectively Evaluated
  
Individually Evaluated
  
Collectively Evaluated
 
Residential real estate
 
$
127
  
$
1,964
  
$
1,863
  
$
277,469
 
Residential construction and land
  
-
   
141
   
-
   
11,847
 
Multi-family
  
-
   
176
   
123
   
24,981
 
Commercial real estate
  
-
   
8,634
   
344
   
381,071
 
Commercial construction
  
15
   
2,038
   
102
   
74,818
 
Home equity
  
73
   
222
   
559
   
21,547
 
Consumer installment
  
-
   
197
   
-
   
4,817
 
Commercial loans
  
13
   
2,791
   
279
   
212,840
 
Total
 
$
228
  
$
16,163
  
$
3,270
  
$
1,009,390