Loans (Tables)

6 Months Ended

Jun. 30, 2016

Receivables [Abstract]

Schedule of components of loans

The components of loans are as follows (in thousands):

	At June 30,			At December 31,
		2016			2015
Residential real estate	$	24,993		$	16,203
Multi-family real estate		4,111			3,697
Commercial real estate		33,910			34,771
Land and construction		4,129			5,258
Commercial		13,378			21,770
Consumer		2,539			3,015
Total loans		83,060			84,714
Add (deduct):
Net deferred loan fees, costs and premiums		590			154
Allowance for loan losses		(4,240	)		(2,295	)
Loans, net	$	79,410		$	82,573

Schedule of change in the allowance for loan losses

An analysis of the change in the allowance for loan losses follows (in thousands):

	Residential			Multi-Family			Commercial			Land
	Real			Real			Real			and
	Estate			Estate			Estate			Construction			Commercial			Consumer			Unallocated		Total
Three Months Ended June 30, 2016:
Beginning balance	$	266		$	40		$	1,175		$	81		$	210		$	151		$	2,157	$	4,080
Provision (credit) for loan losses		(4	)		(1	)		(404	)		(23	)		(10	)		92			350		—
Charge-offs		—			—			—			—			—			(90	)		—		(90	)
Recoveries		—			—			241			6			—			3			—		250
Ending balance	$	262		$	39		$	1,012		$	64		$	200		$	156		$	2,507	$	4,240
Six Months Ended June 30, 2016:
Beginning balance	$	116		$	26		$	1,085		$	77		$	120		$	151		$	720	$	2,295
Provision (credit) for loan losses		146			13			(2,122	)		(25	)		80			121			1,787		—
Charge-offs		—			—			—			—			—			(122	)		—		(122	)
Recoveries		—			—			2,049			12			—			6			—		2,067
Ending balance	$	262		$	39		$	1,012		$	64		$	200		$	156		$	2,507	$	4,240
Three Months Ended June 30, 2015:
Beginning balance	$	70		$	21		$	2,003		$	106		$	48		$	—		$	—	$	2,248
Provision (credit) for loan losses		47			4			(595	)		(72	)		29			147			440		—
Charge-offs		(69	)		—			—			—			—			—			—		(69	)
Recoveries		—			—			—			—			—			—			—		—
Ending balance	$	48		$	25		$	1,408		$	34		$	77		$	147		$	440	$	2,179
Six Months Ended June 30, 2015:
Beginning balance	$	66		$	2		$	1,794		$	99		$	17		$	—		$	266	$	2,244
Provision (credit) for loan losses		51			23			(386	)		(65	)		60			143			174		—
Charge-offs		(69	)		—			—			—			—			—			—		(69	)
Recoveries		—			—			—			—			—			4			—		4
Ending balance	$	48		$	25		$	1,408		$	34		$	77		$	147		$	440	$	2,179
At June 30, 2016:
Individually evaluated for impairment:
Recorded investment	$	1,276		$	—		$	2,142		$	—		$	—		$	—		$	—	$	3,418
Balance in allowance for loan losses	$	—		$	—		$	274		$	—		$	—		$	—		$	—	$	274
Collectively evaluated for impairment:
Recorded investment	$	23,717		$	4,111		$	31,768		$	4,129		$	13,378		$	2,539		$	—	$	79,642
Balance in allowance for loan losses	$	262		$	39		$	738		$	64		$	200		$	156		$	2,507	$	3,966
At December 31, 2015:
Individually evaluated for impairment:
Recorded investment	$	1,319		$	—		$	4,273		$	—		$	—		$	—		$	—	$	5,592
Balance in allowance for loan losses	$	—		$	—		$	13		$	—		$	—		$	—		$	—	$	13
Collectively evaluated for impairment:
Recorded investment	$	14,884		$	3,697		$	30,498		$	5,258		$	21,770		$	3,015		$	—	$	79,122
Balance in allowance for loan losses	$	116		$	26		$	1,072		$	77		$	120		$	151		$	720	$	2,282

Schedule of loans by credit quality indicator

The following summarizes the loan credit quality (in thousands):

			OLEM
			(Other
			Loans
			Especially		Sub-
	Pass		Mentioned)		standard		Doubtful		Loss		Total
At June 30, 2016:
Residential real estate	$	22,953	$	1,011	$	1,029	$	—	$	—	$	24,993
Multi-family real estate		4,111		—		—		—		—		4,111
Commercial real estate		29,504		2,264		2,142		—		—		33,910
Land and construction		4,083		46		—		—		—		4,129
Commercial		13,378		—		—		—		—		13,378
Consumer		2,539		—		—		—		—		2,539
Total	$	76,508	$	3,321	$	3,171	$	—	$	—	$	83,060
At December 31, 2015:
Residential real estate	$	15,132	$	—	$	1,071	$	—	$	—	$	16,203
Multi-family real estate		3,697		—		—		—		—		3,697
Commercial real estate		29,925		573		4,273		—		—		34,771
Land and construction		5,212		46		—		—		—		5,258
Commercial		19,916		—		1,854		—		—		21,770
Consumer		3,015		—		—		—		—		3,015
Total	$	76,897	$	619	$	7,198	$	—	$	—	$	84,714

Schedule of aging analysis of past due loans

Age analysis of past-due loans is as follows (in thousands):

	Accruing Loans
	30-59 Days Past Due		60-89 Days Past Due		Greater Than 90 Days Past Due		Total Past Due		Current		Nonaccrual Loans		Total Loans
At June 30, 2016:
Residential real estate	$	—	$	—	$	—	$	—	$	23,964	$	1,029	$	24,993
Multi-family real estate		—		—		—		—		4,111		—		4,111
Commercial real estate		—		—		—		—		32,785		1,125		33,910
Land and construction		—		—		—		—		4,129		—		4,129
Commercial		—		—		—		—		13,378		—		13,378
Consumer		72		—		—		72		2,467		—		2,539
Total	$	72	$	—	$	—	$	72	$	80,834	$	2,154	$	83,060
At December 31, 2015:
Residential real estate	$	—	$	—	$	—	$	—	$	15,132	$	1,071	$	16,203
Multi-family real estate		—		—		—		—		3,697		—		3,697
Commercial real estate		—		—		—		—		31,539		3,232		34,771
Land and construction		—		—		—		—		5,258		—		5,258
Commercial		—		—		—		—		21,770		—		21,770
Consumer		—		—		—		—		3,015		—		3,015
Total	$	—	$	—	$	—	$	—	$	80,411	$	4,303	$	84,714

Schedule of impaired loans

The following summarizes the amount of impaired loans (in thousands):

	At June 30, 2016						At December 31, 2015
	Recorded Investment		Unpaid Principal Balance		Related Allowance		Recorded Investment		Unpaid Principal Balance		Related Allowance
With no related allowance recorded:
Residential real estate	$	1,276	$	1,904	$	—	$	1,319	$	2,243	$	—
Commercial real estate		1,018		1,018		—		3,232		6,584		—
Commercial		—		—		—		—		—		—
With related allowance recorded -
Commercial real estate	$	1,124	$	1,281		274		1,041		1,041		13
Total
Residential real estate	$	1,276	$	1,904	$	—	$	1,319	$	2,243	$	—
Commercial real estate	$	2,142	$	2,299	$	274	$	4,273	$	7,625	$	13
Total	$	3,418	$	4,203	$	274	$	5,592	$	9,868	$	13

The average net investment in impaired loans and interest income recognized and received on impaired loans are as follows (in thousands):

	Three Months Ended June 30,
	2016						2015
	Average		Interest		Interest		Average		Interest		Interest
	Recorded		Income		Income		Recorded		Income		Income
	Investment		Recognized		Received		Investment		Recognized		Received
Residential real estate	$	1,278	$	23	$	24	$	5,937	$	—	$	35
Commercial real estate	$	2,528	$	35	$	32	$	3,997	$	—	$	36
Commercial	$	—	$	—	$	—	$	1,123	$	—	$	16
Total	$	3,806	$	58	$	56	$	11,057	$	—	$	87

	Six Months Ended June 30,
	2016						2015
	Average		Interest		Interest		Average		Interest		Interest
	Recorded		Income		Income		Recorded		Income		Income
	Investment		Recognized		Received		Investment		Recognized		Received
Residential real estate	$	1,289	$	32	$	48	$	5,780	$	34	$	118
Commercial real estate	$	2,814	$	48	$	66	$	4,032	$	21	$	98
Commercial	$	—	$	—	$	—	$	1,131	$	—	$	33
Total	$	4,103	$	80	$	114	$	10,943	$	55	$	249