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Loans and Allowance for Loan Losses (Tables)
 6 Months Ended
Dec. 31, 2022
Loans and Allowance for Loan Losses [Abstract]  
Major Loan Segments and Classes
Loan segments and classes at December 31, 2022 and June 30, 2022 are summarized as follows:

(In thousands)
  
December 31, 2022
    
June 30, 2022
  
Residential real estate:
            
Residential real estate
  
$
371,646
    
$
360,824
  
Residential construction and land
    
20,334
      
15,298
  
Multi-family
    
67,733
      
63,822
  
Commercial real estate:
                
Commercial real estate
    
705,649
      
595,635
  
Commercial construction
    
87,267
      
83,748
  
Consumer loan:
                
Home equity
    
20,669
      
17,877
  
Consumer installment
    
4,588
      
4,512
  
Commercial loans
    
112,169
      
110,271
  
Total gross loans
    
1,390,055
      
1,251,987
  
Allowance for loan losses
    
(22,289
)
    
(22,761
)
Deferred fees and cost, net
    
100
   
129
Loans receivable, net
  
$
1,367,866
    
$
1,229,355
  
Loan Balances by Internal Credit Quality Indicator
Loan balances by internal credit quality indicator at December 31, 2022 are shown below.

(In thousands)
  
Performing
    
Special
Mention
    
Substandard
    
Total
  
Residential real estate
  
$
366,020
    
$
172
    
$
5,454
    
$
371,646
  
Residential construction and land
    
20,334
      
-
      
-
      
20,334
  
Multi-family
    
67,644
      
89
      
-
      
67,733
  
Commercial real estate
    
673,200
      
7,055
      
25,394
      
705,649
  
Commercial construction
    
87,267
      
-
      
-
      
87,267
  
Home equity
    
20,484
      
-
      
185
      
20,669
  
Consumer installment
    
4,574
      
-
      
14
      
4,588
  
Commercial loans
    
105,613
      
3,232
      
3,324
      
112,169
  
Total gross loans
  
$
1,345,136
    
$
10,548
    
$
34,371
    
$
1,390,055
  

Loan balances by internal credit quality indicator at 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
  
Delinquent and/or Nonaccrual Loans by Past Due Status
The following table sets forth information regarding delinquent and/or nonaccrual loans at December 31, 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
  
$
2,410
    
$
1,009
    
$
1,542
    
$
4,961
    
$
366,685
    
$
371,646
    
$
2,685
  
Residential construction and land
    
-
      
-
      
-
      
-
      
20,334
      
20,334
      
-
  
Multi-family
    
-
      
-
      
-
      
-
      
67,733
      
67,733
      
-
  
Commercial real estate
    
1,816
      
225
      
178
      
2,219
      
703,430
      
705,649
      
828
  
Commercial construction
    
-
      
-
      
-
      
-
      
87,267
      
87,267
      
-
  
Home equity
    
46
      
38
      
140
      
224
      
20,445
      
20,669
      
185
  
Consumer installment
    
35
      
19
      
-
      
54
      
4,534
      
4,588
      
-
  
Commercial loans
    
1,603
      
91
      
398
      
2,092
      
110,077
      
112,169
      
1,679
  
Total gross loans
  
$
5,910
    
$
1,382
    
$
2,258
    
$
9,550
    
$
1,380,505
    
$
1,390,055
    
$
5,377
  

The following table sets forth information regarding delinquent and/or nonaccrual loans at 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
  
Impaired Loans by Loan Portfolio Class
The tables below detail additional information on impaired loans at the date or periods indicated:


  
At December 31, 2022
    
For the three months ended
December 31, 2022
    
For the six months ended
December 31, 2022
  
(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
  
$
785
    
$
785
    
$
-
    
$
923
    
$
2
    
$
954
    
$
2
  
Commercial real estate
    
371
      
371
      
-
      
372
      
6
      
218
      
8
  
Home equity
    
128
      
128
      
-
      
128
      
-
      
128
      
-
  
Consumer installment
     4       4       -       4       -       5       1  
Commercial loans
    
340
      
340
      
-
      
341
      
4
      
343
      
8
  
Impaired loans with no allowance
    
1,628
      
1,628
      
-
      
1,768
      
12
      
1,648
      
19
  
                                                         
With an allowance recorded:
                                                        
Residential real estate
    
2,428
      
2,428
      
587
      
2,301
      
5
      
2,120
      
7
  
Commercial real estate
    
4,100
      
4,100
      
1,090
      
3,805
      
41
      
3,517
      
73
  
Commercial construction
    
102
      
102
      
1
      
102
      
-
      
102
      
-
  
Home equity
    
-
      
-
      
-
      
-
      
-
      
160
      
4
  
Commercial loans
    
1,984
      
1,984
      
939
      
2,591
      
11
      
2,799
      
27
  
Impaired loans with allowance
    
8,614
      
8,614
      
2,617
      
8,799
      
57
      
8,698
      
111
  
                                                         
Total impaired:
                                                        
Residential real estate
    
3,213
      
3,213
      
587
      
3,224
      
7
      
3,074
      
9
  
Commercial real estate
    
4,471
      
4,471
      
1,090
      
4,177
      
47
      
3,735
      
81
  
Commercial construction
    
102
      
102
      
1
      
102
      
-
      
102
      
-
  
Home equity
    
128
      
128
      
-
      
128
      
-
      
288
      
4
  
Consumer installment
     4       4       -       4       -       5       1  
Commercial loans
    
2,324
      
2,324
      
939
      
2,932
      
15
      
3,142
      
35
  
Total impaired loans
  
$
10,242
    
$
10,242
    
$
2,617
    
$
10,567
    
$
69
    
$
10,346
    
$
130
  


 
At June 30, 2022
    
For the three months ended
December 31, 2021
    
For the six months ended
December 31, 2021
  
(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
  
$
990
    
$
990
    
$
-
    
$
664
    
$
10
    
$
442
    
$
10
  
Commercial real estate
    
67
      
67
      
-
      
539
      
5
      
492
      
8
  
Home equity
    
128
      
128
      
-
      
128
      
-
      
128
      
-
  
Consumer Installment
     5       5       -       -       -       -       -  
Commercial loans
    
346
      
346
      
-
      
180
      
2
      
139
      
2
  
Impaired loans with no allowance
    
1,536
      
1,536
      
-
      
1,511
      
17
      
1,201
      
20
  
                                                         
With an allowance recorded:
                                                        
Residential real estate
    
1,953
      
1,953
      
588
      
1,958
      
28
      
1,338
      
33
  
Commercial real estate
    
3,698
      
3,698
      
1,118
      
612
      
8
      
696
      
18
  
Commercial construction
    
102
      
102
      
1
      
102
      
-
      
102
      
-
  
Home equity
    
320
      
320
      
44
      
321
      
3
      
321
      
6
  
Commercial loans
    
3,162
      
3,162
      
596
      
3,484
      
47
      
3,356
      
87
  
Impaired loans with allowance
    
9,235
      
9,235
      
2,347
      
6,477
      
86
      
5,813
      
144
  
                                                         
Total impaired:
                                                        
Residential real estate
    
2,943
      
2,943
      
588
      
2,622
      
38
      
1,780
      
43
  
Commercial real estate
    
3,765
      
3,765
      
1,118
      
1,151
      
13
      
1,188
      
26
  
Commercial construction
    
102
      
102
      
1
      
102
      
-
      
102
      
-
  
Home equity
    
448
      
448
      
44
      
449
      
3
      
449
      
6
  
Consumer Installment     5       5       -       -       -       -       -  
Commercial loans
    
3,508
      
3,508
      
596
      
3,664
      
49
      
3,495
      
89
  
Total impaired loans
  
$
10,771
    
$
10,771
    
$
2,347
    
$
7,988
    
$
103
    
$
7,014
    
$
164
  
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 six months ended December 31, 2022
                        
Residential real estate
    
2
    
$
778
    
$
778
     $ 778  
Commercial real estate
    
2
     $
1,228
     $
1,233
     $ 1,233  
Commercial loans
   
1
     $
379
     $
379
     $ 379  
                                 
For the year ended June 30, 2022                                
Consumer Installment     1     $ 5     $
 5     $
 5  
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 three months ended December 31, 2022
  
(In thousands)
  
Balance at
September 30, 2022
    
Charge-offs
    
Recoveries
    
Provision
    
Balance at
December 31, 2022
  
Residential real estate
  
$
2,471
    
$
-
    
$
2
    
$
19
    
$
2,492
  
Residential construction and land
    
177
      
-
      
-
      
16
      
193
  
Multi-family
    
159
      
-
      
-
      
8
      
167
  
Commercial real estate
    
15,392
      
-
      
-
      
58
      
15,450
  
Commercial construction
    
1,044
      
-
      
-
      
56
   
1,100
  
Home equity
    
44
      
-
      
-
      
(6
)
    
38
  
Consumer installment
    
274
      
137
      
29
      
118
      
284
  
Commercial loans
    
2,586
      
7
      
11
      
(25
)
    
2,565
  
Total
  
$
22,147
    
$
144
    
$
42
    
$
244
    
$
22,289
  


 
Activity for the six months ended December 31, 2022
  
(In thousands)
  
Balance at
June 30, 2022
    
Charge-offs
    
Recoveries
    
Provision
    
Balance at
December 31, 2022
  
Residential real estate
  
$
2,373
    
$
-
    
$
5
    
$
114
    
$
2,492
  
Residential construction and land
    
141
      
-
      
-
      
52
      
193
  
Multi-family
    
119
      
-
      
-
      
48
      
167
  
Commercial real estate
    
16,221
      
-
      
-
      
(771
)
    
15,450
  
Commercial construction
    
1,114
      
-
      
-
      
(14
)
    
1,100
  
Home equity
    
89
      
-
      
-
      
(51
)
    
38
  
Consumer installment
    
349
      
304
      
75
      
164
      
284
  
Commercial loans
    
2,355
      
11
      
18
      
203
      
2,565
  
Total
  
$
22,761
    
$
315
    
$
98
    
$
(255
)
  
$
22,289
  

   
Allowance for Loan Losses
    
Loans Receivable
  
   
Ending Balance At December 31, 2022
Impairment Analysis
    
Ending Balance At December 31, 2022
Impairment Analysis
  
(In thousands)
  
Individually
Evaluated
    
Collectively
Evaluated
    
Individually
Evaluated
    
Collectively
Evaluated
  
Residential real estate
  
$
587
    
$
1,905
    
$
3,213
    
$
368,433
  
Residential construction and land
    
-
      
193
      
-
      
20,334
  
Multi-family
    
-
      
167
      
-
      
67,733
  
Commercial real estate
    
1,090
      
14,360
      
4,471
      
701,178
  
Commercial construction
    
1
      
1,099
      
102
      
87,165
  
Home equity
    
-
      
38
      
128
      
20,541
  
Consumer installment
    
-
      
284
      
4
      
4,584
  
Commercial loans
    
939
      
1,626
      
2,324
      
109,845
  
Total
  
$
2,617
    
$
19,672
    
$
10,242
    
$
1,379,813
  


   
Activity for the three months ended December 31, 2021
  
(In thousands)
  
Balance at 
September 30, 2021
    
Charge-offs
    
Recoveries
    
Provision
    
Balance at
December 31, 2021
  
Residential real estate
  
$
1,997
    
$
-
    
$
7
    
$
(23
)
  
$
1,981
  
Residential construction and land
    
120
      
-
      
-
      
(5
)
    
115
  
Multi-family
    
100
      
-
      
-
      
(24
)
    
76
  
Commercial real estate
    
14,298
      
-
      
-
      
1,318
      
15,616
  
Commercial construction
    
1,198
      
-
      
-
      
52
      
1,250
  
Home equity
    
140
      
-
      
-
      
(51
)
    
89
  
Consumer installment
    
290
      
107
      
20
      
77
      
280
  
Commercial loans
    
2,350
      
10
      
1
      
(64
)
    
2,277
  
Total
  
$
20,493
    
$
117
    
$
28
    
$
1,280
    
$
21,684
  

   
Activity for the six months ended December 31, 2021
  
(In thousands)
  
Balance at
June 30, 2021
    
Charge-offs
    
Recoveries
    
Provision
    
Balance at
December 31, 2021
  
Residential real estate
  
$
2,012
    
$
-
    
$
7
    
$
(38
)
  
$
1,981
  
Residential construction and land
    
106
      
-
      
-
      
9
      
115
  
Multi-family
    
186
      
-
      
-
      
(110
)
    
76
  
Commercial real estate
    
13,049
      
-
      
-
      
2,567
      
15,616
  
Commercial construction
    
1,535
      
-
      
-
      
(285
)
    
1,250
  
Home equity
    
165
      
-
      
-
      
(76
)
    
89
  
Consumer installment
    
267
      
211
      
57
      
167
      
280
  
Commercial loans
    
2,348
      
107
      
2
      
34
      
2,277
  
Total
  
$
19,668
    
$
318
    
$
66
    
$
2,268
    
$
21,684
  

   
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
  
Foreclosed Real Estate The following table sets forth information regarding FRE at:

(in thousands)
  
December 31, 2022
    
June 30, 2022
  
Residential real estate
  
$
-
    
$
68
  
Total foreclosed real estate
  
$
-
    
$
68