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Loans and Allowance for Loan Losses (Tables)
 6 Months Ended
Dec. 31, 2020
Loans and Allowance for Loan Losses [Abstract]  
Major Loan Segments and Classes
Loan segments and classes at December 31, 2020 and June 30, 2020 are summarized as follows:

(In thousands)
 
December 31, 2020
  
June 30, 2020
 
Residential real estate:
      
Residential real estate
 
$
299,479
  
$
279,332
 
Residential construction and land
  
7,494
   
11,847
 
Multi-family
  
28,000
   
25,104
 
Commercial real estate:
        
Commercial real estate
  
448,122
   
381,415
 
Commercial construction
  
72,200
   
74,920
 
Consumer loan:
        
Home equity
  
19,922
   
22,106
 
Consumer installment
  
4,851
   
4,817
 
Commercial loans
  
171,099
   
213,119
 
Total gross loans
  
1,051,167
   
1,012,660
 
Allowance for loan losses
  
(18,270
)
  
(16,391
)
Unearned origination fees and costs, net
  
(1,378
)
  
(2,747
)
Loans receivable, net
 
$
1,031,519
  
$
993,522
 
Loan Balances by Internal Credit Quality Indicator
Loan balances by internal credit quality indicator at December 31, 2020 are shown below.

(In thousands)
 
Performing
  
Watch
  
Special Mention
  
Substandard
  
Total
 
Residential real estate
 
$
295,850
  
$
840
  
$
81
  
$
2,708
  
$
299,479
 
Residential construction and land
  
7,494
   
-
   
-
   
-
   
7,494
 
Multi-family
  
26,009
   
-
   
1,627
   
364
   
28,000
 
Commercial real estate
  
423,153
   
316
   
21,020
   
3,633
   
448,122
 
Commercial construction
  
70,253
   
-
   
1,947
   
-
   
72,200
 
Home equity
  
19,355
   
-
   
-
   
567
   
19,922
 
Consumer installment
  
4,804
   
47
   
-
   
-
   
4,851
 
Commercial loans
  
164,829
   
-
   
3,488
   
2,782
   
171,099
 
Total gross loans
 
$
1,011,747
  
$
1,203
  
$
28,163
  
$
10,054
  
$
1,051,167
 

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 December 31, 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
 
$
1,819
  
$
341
  
$
609
  
$
2,769
  
$
296,710
  
$
299,479
  
$
1,670
 
Residential construction and land
  
-
   
-
   
-
   
-
   
7,494
   
7,494
   
-
 
Multi-family
  
-
   
-
   
-
   
-
   
28,000
   
28,000
   
-
 
Commercial real estate
  
803
   
316
   
404
   
1,523
   
446,599
   
448,122
   
560
 
Commercial construction
  
-
   
-
   
-
   
-
   
72,200
   
72,200
   
-
 
Home equity
  
193
   
15
   
128
   
336
   
19,586
   
19,922
   
247
 
Consumer installment
  
77
   
47
   
-
   
124
   
4,727
   
4,851
   
-
 
Commercial loans
  
261
   
-
   
77
   
338
   
170,761
   
171,099
   
278
 
Total gross loans
 
$
3,153
  
$
719
  
$
1,218
  
$
5,090
  
$
1,046,077
  
$
1,051,167
  
$
2,755
 

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 and six months ended December 31:

  
For the three months
ended December 31,
  
For the six months
ended December 31
 
(In thousands)
 
2020
  
2019
  
2020
  
2019
 
Interest income that would have been recorded if loans had been performing in accordance with original terms
 
$
92
  
$
53
  
$
198
  
$
154
 
Interest income that was recorded on nonaccrual loans
  
88
   
42
   
126
   
92
 
Impaired Loans by Loan Portfolio Class
The tables below detail additional information on impaired loans at the date or periods indicated:

  
At December 31, 2020
  
For the three months ended
December 31, 2020
  
For the six months ended
December 31, 2020
 
(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
 
$
386
  
$
386
  
$
-
  
$
392
  
$
3
  
$
397
  
$
8
 
Multi-family
  
-
   
-
   
-
   
-
   
-
   
61
   
-
 
Commercial real estate
  
316
   
316
   
-
   
321
   
1
   
328
   
2
 
Home equity
  
231
   
231
   
-
   
162
   
-
   
145
   
-
 
Commercial loans
  
109
   
109
   
-
   
111
   
8
   
194
   
8
 
Impaired loans with no allowance
  
1,042
   
1,042
   
-
   
986
   
12
   
1,125
   
18
 
                             
With an allowance recorded:
                            
Residential real estate
  
668
   
668
   
82
   
1,064
   
12
   
1,225
   
17
 
Commercial construction
  
102
   
102
   
20
   
102
   
-
   
102
   
-
 
Home equity
  
321
   
321
   
73
   
391
   
4
   
410
   
8
 
Commercial loans
  
24
   
24
   
2
   
16
   
1
   
8
   
1
 
Impaired loans with allowance
  
1,115
   
1,115
   
177
   
1,573
   
17
   
1,745
   
26
 
                             
Total impaired:
                            
Residential real estate
  
1,054
   
1,054
   
82
   
1,456
   
15
   
1,622
   
25
 
Multi-family
  
-
   
-
   
-
   
-
   
-
   
61
   
-
 
Commercial real estate
  
316
   
316
   
-
   
321
   
1
   
328
   
2
 
Commercial construction
  
102
   
102
   
20
   
102
   
-
   
102
   
-
 
Home equity
  
552
   
552
   
73
   
553
   
4
   
555
   
8
 
Commercial loans
  
133
   
133
   
2
   
127
   
9
   
202
   
9
 
Total impaired loans
 
$
2,157
  
$
2,157
  
$
177
  
$
2,559
  
$
29
  
$
2,870
  
$
44
 

  
At June 30, 2020
  
For the three months ended
December 31, 2019
  
For the six months ended
December 31, 2019
 
(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
 
$
868
  
$
868
  
$
-
  
$
542
   
11
   
617
   
41
 
Multi-family
  
123
   
123
   
-
   
-
   
-
   
-
   
-
 
Commercial real estate
  
344
   
344
   
-
   
375
   
5
   
383
   
12
 
Home equity
  
128
   
128
   
-
   
128
   
-
   
197
   
-
 
Commercial loans
  
145
   
145
   
-
   
146
   
1
   
141
   
1
 
Impaired loans with no allowance
  
1,608
   
1,608
   
-
   
1,191
   
17
   
1,338
   
54
 
                             
With an allowance recorded:
                            
Residential real estate
  
995
   
995
   
127
   
1,124
   
8
   
1,051
   
32
 
Multi-family
  
-
   
-
   
-
   
131
   
1
   
66
   
1
 
Commercial real estate
  
-
   
-
   
-
   
105
   
3
   
53
   
3
 
Commercial construction
  
102
   
102
   
15
   
102
   
-
   
102
   
-
 
Home equity
  
431
   
431
   
73
   
460
   
9
   
395
   
14
 
Commercial loans
  
134
   
134
   
13
   
159
   
3
   
145
   
4
 
Impaired loans with allowance
  
1,662
   
1,662
   
228
   
2,081
   
24
   
1,812
   
54
 
                             
Total impaired:
                            
Residential real estate
  
1,863
   
1,863
   
127
   
1,666
   
19
   
1,668
   
73
 
Multi-family
  
123
   
123
   
-
   
131
   
1
   
66
   
1
 
Commercial real estate
  
344
   
344
   
-
   
480
   
8
   
436
   
15
 
Commercial construction
  
102
   
102
   
15
   
102
   
-
   
102
   
-
 
Home equity
  
559
   
559
   
73
   
588
   
9
   
592
   
14
 
Commercial loans
  
279
   
279
   
13
   
305
   
4
   
286
   
5
 
Total impaired loans
 
$
3,270
  
$
3,270
  
$
228
  
$
3,272
   
41
   
3,150
   
108
 
Loans Modified as Troubled Debt Restructuring
The table below details loans that have been modified as a troubled debt restructuring during the six months ended December 31, 2020.

(Dollars in thousands)
 
Number of Contracts
  
Pre-Modification Outstanding Recorded Investment
  
Post-Modification Outstanding Recorded Investment
  
Current Outstanding Recorded Investment
 
December 31, 2020
            
Commercial loans
  
1
  
$
24
  
$
24
  
$
24
 
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, 2020
 
(In thousands)
 
Balance at
September 30, 2020
  
Charge-offs
  
Recoveries
  
Provision
  
Balance at
December 31, 2020
 
Residential real estate
 
$
1,463
  
$
26
  
$
4
  
$
557
  
$
1,998
 
Residential construction and land
  
118
   
-
   
-
   
(28
)
  
90
 
Multi-family
  
180
   
-
   
-
   
96
   
276
 
Commercial real estate
  
9,384
   
-
   
-
   
823
   
10,207
 
Commercial construction
  
1,961
   
-
   
-
   
(114
)
  
1,847
 
Home equity
  
272
   
-
   
-
   
(7
)
  
265
 
Consumer installment
  
350
   
85
   
19
   
(28
)
  
256
 
Commercial loans
  
3,868
   
500
   
-
   
(37
)
  
3,331
 
Total
 
$
17,596
  
$
611
  
$
23
  
$
1,262
  
$
18,270
 

  
Activity for the six months ended December 31, 2020
 
(In thousands)
 
Balance at
June 30, 2020
  
Charge-offs
  
Recoveries
  
Provision
  
Balance at
December 31, 2020
 
Residential real estate
 
$
2,091
  
$
26
  
$
7
  
$
(74
)
 
$
1,998
 
Residential construction and land
  
141
   
-
   
-
   
(51
)
  
90
 
Multi-family
  
176
   
-
   
-
   
100
   
276
 
Commercial real estate
  
8,634
   
-
   
-
   
1,573
   
10,207
 
Commercial construction
  
2,053
   
-
   
-
   
(206
)
  
1,847
 
Home equity
  
295
   
-
   
-
   
(30
)
  
265
 
Consumer installment
  
197
   
146
   
39
   
166
   
256
 
Commercial loans
  
2,804
   
500
   
-
   
1,027
   
3,331
 
Total
 
$
16,391
  
$
672
  
$
46
  
$
2,505
  
$
18,270
 

  
Allowance for Loan Losses
  
Loans Receivable
 
  
Ending Balance At December 31, 2020
Impairment Analysis
  
Ending Balance At December 31, 2020
Impairment Analysis
 
(In thousands)
 
Individually
Evaluated
  
Collectively
Evaluated
  
Individually
Evaluated
  
Collectively
Evaluated
 
Residential real estate
 
$
82
  
$
1,916
  
$
1,054
  
$
298,425
 
Residential construction and land
  
-
   
90
   
-
   
7,494
 
Multi-family
  
-
   
276
   
-
   
28,000
 
Commercial real estate
  
-
   
10,207
   
316
   
447,806
 
Commercial construction
  
20
   
1,827
   
102
   
72,098
 
Home equity
  
73
   
192
   
552
   
19,370
 
Consumer installment
  
-
   
256
   
-
   
4,851
 
Commercial loans
  
2
   
3,329
   
133
   
170,966
 
Total
 
$
177
  
$
18,093
  
$
2,157
  
$
1,049,010
 

  
Activity for the three months ended December 31, 2019
 
(In thousands)
 
Balance at
September 30, 2019
  
Charge-offs
  
Recoveries
  
Provision
  
Balance at
December 31, 2019
 
Residential real estate
 
$
1,512
  
$
48
  
$
10
  
$
(4
)
 
$
1,470
 
Residential construction and land
  
99
   
-
   
-
   
(6
)
  
93
 
Multi-family
  
205
   
-
   
-
   
(58
)
  
147
 
Commercial real estate
  
7,159
   
-
   
-
   
351
   
7,510
 
Commercial construction
  
1,291
   
-
   
-
   
176
   
1,467
 
Home equity
  
307
   
-
   
-
   
(37
)
  
270
 
Consumer installment
  
319
   
139
   
26
   
160
   
366
 
Commercial loans
  
2,552
   
5
   
6
   
108
   
2,661
 
Total
 
$
13,444
  
$
192
  
$
42
  
$
690
  
$
13,984
 

  
Activity for the six months ended December 31, 2019
 
(In thousands)
 
Balance at
June 30, 2019
  
Charge-offs
  
Recoveries
  
Provision
  
Balance at
December 30, 2019
 
Residential real estate
 
$
2,026
  
$
101
  
$
10
  
$
(465
)
 
$
1,470
 
Residential construction and land
  
87
   
-
   
-
   
6
   
93
 
Multi-family
  
180
   
-
   
-
   
(33
)
  
147
 
Commercial real estate
  
7,110
   
-
   
-
   
400
   
7,510
 
Commercial construction
  
872
   
-
   
-
   
595
   
1,467
 
Home equity
  
314
   
-
   
-
   
(44
)
  
270
 
Consumer installment
  
250
   
248
   
50
   
314
   
366
 
Commercial loans
  
2,361
   
204
   
36
   
468
   
2,661
 
Total
 
$
13,200
  
$
553
  
$
96
  
$
1,241
  
$
13,984
 

  
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
 
Foreclosed Real Estate
The following table sets forth information regarding FRE at December 31, 2020 and June 30, 2020:

(in thousands)
 
December 31, 2020
  
June 30, 2020
 
Residential real estate
 
$
385
  
$
-
 
Total foreclosed real estate
 
$
385
  
$
-