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Loans (Tables)
 12 Months Ended
Jun. 30, 2022
Loans [Abstract]  
Major Loan Segments and Classes
Loan segments and classes at June 30, 2022 and 2021 are summarized as follows:
   
At June 30,
  
(In thousands)
  
2022
    
2021
  
Residential real estate:
            
Residential real estate
  
$
360,824
    
$
325,167
  
Residential construction and land
    
15,298
      
10,185
  
Multi-family
    
63,822
      
41,951
  
Commercial real estate:
                
Commercial real estate
    
595,635
      
472,887
  
Commercial construction
    
83,748
      
62,763
  
Consumer loan:
                
Home equity
    
17,877
      
18,285
  
Consumer installment
    
4,512
      
4,942
  
Commercial loans
    
110,271
      
172,228
  
Total gross loans
    
1,251,987
      
1,108,408
  
Allowance for loan losses
    
(22,761
)
    
(19,668
)
Deferred cost and (fees)
    
129
   
(2,793
)
Loans receivable, net
  
$
1,229,355
    
$
1,085,947
  
Loan Balances by Internal Credit Quality Indicator
Loan balances by internal credit quality indicator as of June 30, 2022 are shown below.

(In thousands)
  
Performing
    
Special Mention
    
Substandard
    
Total
  
Residential real estate
  
$
355,474
    
$
28
    

5,322
    

360,824
  
Residential construction and land
    
15,297
      
-
      
1
      
15,298
  
Multi-family
    
63,730
      
92
      
-
      
63,822
  
Commercial real estate
    
555,451
      
13,777
      
26,407
      
595,635
  
Commercial construction
    
83,748
      
-
      
-
      
83,748
  
Home equity
    
17,369
      
-
      
508
      
17,877
  
Consumer installment
    
4,500
      
-
      
12
      
4,512
  
Commercial loans
    
104,364
      
996
      
4,911
      
110,271
  
Total gross loans
  
$
1,199,933
    
$
14,893
    
$
37,161
    
$
1,251,987
  

Loan balances by internal credit quality indicator as of June 30, 2021 are shown below.

(In thousands)
  
Performing
    
Special Mention
    
Substandard
    
Total
  
Residential real estate
  
$
321,826
    
$
88
    
$
3,253
    
$
325,167
  
Residential construction and land
    
10,185
      
-
      
-
      
10,185
  
Multi-family
    
41,589
      
-
      
362
      
41,951
  
Commercial real estate
    
441,004
      
9,690
      
22,193
      
472,887
  
Commercial construction
    
55,819
      
5,944
      
1,000
      
62,763
  
Home equity
    
17,727
      
-
      
558
      
18,285
  
Consumer installment
    
4,942
      
-
      
-
      
4,942
  
Commercial loans
    
165,649
      
963
      
5,616
      
172,228
  
Total gross loans
  
$
1,058,741
    
$
16,685
    
$
32,982
    
$
1,108,408
  
Loans Modified as Troubled Debt Restructuring
The table below detail loans that have been modified as a troubled debt restructuring during the year ended June 30, 2021.

(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, 2021
                        
Commercial loans
    
5
    
$
3,001
    
$
2,903
    
$
2,896
  
Commercial real estate
    
3
      
1,325
      
1,287
      
1,284
  
Residential
    
1
      
70
      
70
      
69
  
Loans that Have Payments Deferred
The following table details loans that had payments deferred as of June 30, 2021.

   
Full Payment Deferral
    
Principal Payment Deferral
    
Total Deferral
  
(Dollars in thousands)
  
Balance
    
Number
of Loans
    
Balance
    
Number
of Loans
    
Balance
    
Number
of Loans
  
                                     
Commercial real estate
   $
6,119
      
3
     $
1,346
      
3
     $
7,465
      
6
  
Commercial loans
    
572
      
2
      
-
      
-
      
572
      
2
  
Total
  
$
6,691
      
5
    
$
1,346
      
3
    
$
8,037
      
8
  
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, 2022:
 
(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
  
$
66
    
$
1,676
    
$
592
    
$
2,334
    
$
358,490
    
$
360,824
    
$
2,948
  
Residential construction and land
    
-
      
1
      
-
      
1
      
15,297
      
15,298
      
1
  
Multi-family
    
-
      
-
      
-
      
-
      
63,822
      
63,822
      
-
  
Commercial real estate
    
-
      
385
      
1,147
      
1,532
      
594,103
      
595,635
      
1,269
  
Commercial construction
    
-
      
-
      
-
      
-
      
83,748
      
83,748
      
-
  
Home equity
    
3
      
-
      
179
      
182
      
17,695
      
17,877
      
188
  
Consumer installment
    
22
      
17
      
-
      
39
      
4,473
      
4,512
      
7
  
Commercial loans
    
-
      
28
      
19
      
47
      
110,224
      
110,271
      
1,904
  
Total gross loans
  
$
91
    
$
2,107
    
$
1,937
    
$
4,135
    
$
1,247,852
    
$
1,251,987
    
$
6,317
  

The following table sets forth information regarding delinquent and/or nonaccrual loans as of June 30, 2021:
 
(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
  
$
-
    
$
630
    
$
650
    
$
1,280
    
$
323,887
    
$
325,167
    
$
1,324
  
Residential construction and land
    
-
      
-
      
-
      
-
      
10,185
      
10,185
      
-
  
Multi-family
    
-
      
-
      
-
      
-
      
41,951
      
41,951
      
-
  
Commercial real estate
    
-
      
5,266
      
123
      
5,389
      
467,498
      
472,887
      
444
  
Commercial construction
    
-
      
-
      
-
      
-
      
62,763
      
62,763
      
-
  
Home equity
    
33
      
40
      
224
      
297
      
17,988
      
18,285
      
237
  
Consumer installment
    
26
      
13
      
-
      
39
      
4,903
      
4,942
      
-
  
Commercial loans
    
-
      
230
      
117
      
347
      
171,881
      
172,228
      
296
  
Total gross loans
  
$
59
    
$
6,179
    
$
1,114
    
$
7,352
    
$
1,101,056
    
$
1,108,408
    
$
2,301
  
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, 2022
    
For the year ended June 30, 2022
  
(In thousands)
  
Recorded
Investment
    
Unpaid Principal
    
Related Allowance
    
Average Recorded
Investment
    
Interest Income
Recognized
  
With no related allowance recorded:
                    
Residential real estate
  
$
990
    
$
990
    
$
-
    
$
669
    
$
17
  
Commercial real estate
    
67
      
67
      
-
      
281
      
9
  
Home equity
    
128
      
128
      
-
      
128
      
-
  
Consumer installment
     5
       5
       -
       2
       1
  
Commercial loans
    
346
      
346
      
-
      
158
      
6
  
Impaired loans with no allowance
    
1,536
      
1,536
      
-
      
1,238
      
33
  
                                         
With an allowance recorded:
                                        
Residential real estate
    
1,953
      
1,953
      
588
      
1,713
      
53
  
Commercial real estate
    
3,698
      
3,698
      
1,118
      
1,740
      
120
  
Commercial construction
    
102
      
102
      
1
      
102
      
-
  
Home equity
    
320
      
320
      
44
      
320
      
14
  
Commercial Loans
    
3,162
      
3,162
      
596
      
3,360
      
138
  
Impaired loans with allowance
    
9,235
      
9,235
      
2,347
      
7,235
      
325
  
                                         
Total impaired:
                                        
Residential real estate
    
2,943
      
2,943
      
588
      
2,382
      
70
  
Commercial real estate
    
3,765
      
3,765
      
1,118
      
2,021
      
129
  
Commercial construction
    
102
      
102
      
1
      
102
      
-
  
Home equity
    
448
      
448
      
44
      
448
      
14
  
Consumer installment
     5
       5
       -
       2
       1
  
Commercial loans
    
3,508
      
3,508
      
596
      
3,518
      
144
  
Total impaired loans
  
$
10,771
    
$
10,771
    
$
2,347
    
$
8,473
    
$
358
  

   
As of June 30, 2021
    
For the year ended June 30, 2021
  
(In thousands)
  
Recorded
Investment
    
Unpaid Principal
    
Related Allowance
    
Average Recorded
Investment
    
Interest Income
Recognized
  
With no related allowance recorded:
                    
Residential real estate
  
$
370
    
$
370
    
$
-
    
$
387
    
$
14
  
Multi-family
    
-
      
-
      
-
      
30
      
-
  
Commercial real estate
    
281
      
281
      
-
      
313
      
4
  
Home equity
    
224
      
224
      
-
      
186
      
-
  
Commercial loans
    
95
      
95
      
-
      
148
      
8
  
Impaired loans with no allowance
    
970
      
970
      
-
      
1,064
      
26
  
                                         
With an allowance recorded:
                                        
Residential real estate
    
723
      
723
      
103
      
971
      
32
  
Multi-family
    
-
      
-
      
-
      
-
      
-
  
Commercial real estate
    
945
      
945
      
58
      
236
      
4
  
Commercial construction
    
102
      
102
      
1
      
102
      
-
  
Home equity
    
321
      
321
      
73
      
366
      
18
  
Commercial Loans
    
3,234
      
3,234
      
156
      
1,121
      
135
  
Impaired loans with allowance
    
5,325
      
5,325
      
391
      
2,796
      
189
  
                                         
Total impaired:
                                        
Residential real estate
    
1,093
      
1,093
      
103
      
1,358
      
46
  
Multi-family
    
-
      
-
      
-
      
30
      
-
  
Commercial real estate
    
1,226
      
1,226
      
58
      
549
      
8
  
Commercial construction
    
102
      
102
      
1
      
102
      
-
  
Home equity
    
545
      
545
      
73
      
552
      
18
  
Commercial loans
    
3,329
      
3,329
      
156
      
1,269
      
143
  
Total impaired loans
  
$
6,295
    
$
6,295
    
$
391
    
$
3,860
    
$
215
  
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, 2022
  
(In thousands)
  
Balance June 30,
2021
    
Charge-offs
    
Recoveries
    
Provision
    
Balance June 30,
2022
  
Residential real estate
  
$
2,012
    
$
27
    
$
13
    
$
375
    
$
2,373
  
Residential construction and land
    
106
      
-
      
-
      
35
      
141
  
Multi-family
    
186
      
-
      
-
      
(67
)
    
119
  
Commercial real estate
    
13,049
      
-
      
-
      
3,172
      
16,221
  
Commercial construction
    
1,535
      
-
      
-
      
(421
)
    
1,114
  
Home equity
    
165
      
-
      
-
      
(76
)
    
89
  
Consumer installment
    
267
      
454
      
115
      
421
      
349
  
Commercial loans
    
2,348
      
112
      
280
      
(161
)
    
2,355
  
Total
  
$
19,668
    
$
593
    
$
408
    
$
3,278
    
$
22,761
  

   
Activity for the year ended June 30, 2021
  
(In thousands)
  
Balance June 30,
2020
    
Charge-offs
    
Recoveries
    
Provision
    
Balance June 30,
2021
  
Residential real estate
  
$
2,091
    
$
26
    
$
13
    
$
(66
)
  
$
2,012
  
Residential construction and land
    
141
      
-
      
-
      
(35
)
    
106
  
Multi-family
    
176
      
-
      
-
      
10
      
186
  
Commercial real estate
    
8,634
      
-
      
-
      
4,415
      
13,049
  
Commercial construction
    
2,053
      
-
      
-
      
(518
)
    
1,535
  
Home equity
    
295
      
-
      
-
      
(130
)
    
165
  
Consumer installment
    
197
      
309
      
124
      
255
      
267
  
Commercial loans
    
2,804
      
500
      
1
      
43
      
2,348
  
Total
  
$
16,391
    
$
835
    
$
138
    
$
3,974
    
$
19,668
  

   
Allowance for Loan Losses
    
Loans Receivable
  
   
Ending Balance June 30, 2022
Impairment Analysis
    
Ending Balance June 30, 2022
Impairment Analysis
  
(In thousands)
  
Individually
Evaluated
    
Collectively
Evaluated
    
Individually
Evaluated
    
Collectively
Evaluated
  
Residential real estate
  
$
588
    
$
1,785
    
$
2,943
    
$
357,881
  
Residential construction and land
    
-
      
141
      
-
      
15,298
  
Multi-family
    
-
      
119
      
-
      
63,822
  
Commercial real estate
    
1,118
      
15,103
      
3,765
      
591,870
  
Commercial construction
    
1
      
1,113
      
102
      
83,646
  
Home equity
    
44
      
45
      
448
      
17,429
  
Consumer installment
    
-
      
349
      
5
      
4,507
  
Commercial loans
    
596
      
1,759
      
3,508
      
106,763
  
Total
  
$
2,347
    
$
20,414
    
$
10,771
    
$
1,241,216
  

   
Allowance for Loan Losses
    
Loans Receivable
  
   
Ending Balance June 30, 2021
Impairment Analysis
    
Ending Balance June 30, 2021
Impairment Analysis
  
(In thousands)
  
Individually
Evaluated
    
Collectively
Evaluated
    
Individually
Evaluated
    
Collectively
Evaluated
  
Residential real estate
  
$
103
    
$
1,909
    
$
1,093
    
$
324,074
  
Residential construction and land
    
-
      
106
      
-
      
10,185
  
Multi-family
    
-
      
186
      
-
      
41,951
  
Commercial real estate
    
58
      
12,991
      
1,226
      
471,661
  
Commercial construction
    
1
      
1,534
      
102
      
62,661
  
Home equity
    
73
      
92
      
545
      
17,740
  
Consumer installment
    
-
      
267
      
-
      
4,942
  
Commercial loans
    
156
      
2,192
      
3,329
      
168,899
  
Total
  
$
391
    
$
19,277
    
$
6,295
    
$
1,102,113
  
Foreclosed Real Estate The following table sets forth information regarding FRE as of June 30, 2022 and 2021:

(in thousands)
  
2022
    
2021
  
Residential real estate
  
$
68
    
$
64
  
Total foreclosed real estate
  
$
68
    
$
64