XML 40 R29.htm IDEA: XBRL DOCUMENT v3.20.2
Allowance for Loan Losses (Tables)
 9 Months Ended
Sep. 30, 2020
Allowance for Loan Losses [Line Items]  
Summary of Activity in Allowance for Loan Losses



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

Real Estate Loans

 

Other Loans

 

 

 

 

 

 



 

One- to Four-Family(2)

 

Home Equity

 

Commercial

 

Construction - Commercial

 

Commercial

 

Consumer

 

Unallocated

 

Total



 

(Dollars in thousands)

September 30, 2020

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Allowance for Loan Losses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance – July 1, 2020

 

$

 426 

 

$

 169 

 

$

 3,377 

 

$

 554 

 

$

 481 

 

$

 34 

 

$

 23 

 

$

 5,064 

   Charge-offs

 

 

 -

 

 

 (6)

 

 

 -

 

 

 -

 

 

 -

 

 

 (17)

 

 

 -

 

 

 (23)

   Recoveries

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 6 

 

 

 -

 

 

 6 

   Provision (credit)

 

 

 (23)

 

 

 -

 

 

 67 

 

 

 6 

 

 

 179 

 

 

 1 

 

 

 70 

 

 

 300 

Balance – September 30, 2020

 

$

 403 

 

$

 163 

 

$

 3,444 

 

$

 560 

 

$

 660 

 

$

 24 

 

$

 93 

 

$

 5,347 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance – January 1, 2020

 

$

 436 

 

$

 129 

 

$

 2,682 

 

$

 388 

 

$

 478 

 

$

 26 

 

$

 128 

 

$

 4,267 

   Charge-offs

 

 

 (26)

 

 

 (6)

 

 

 -

 

 

 -

 

 

 (5)

 

 

 (27)

 

 

 -

 

 

 (64)

   Recoveries

 

 

 -

 

 

 1 

 

 

 1 

 

 

 -

 

 

 4 

 

 

 13 

 

 

 -

 

 

 19 

   Provision (credit)

 

 

 (7)

 

 

 39 

 

 

 761 

 

 

 172 

 

 

 183 

 

 

 12 

 

 

 (35)

 

 

 1,125 

Balance – September 30, 2020

 

$

 403 

 

$

 163 

 

$

 3,444 

 

$

 560 

 

$

 660 

 

$

 24 

 

$

 93 

 

$

 5,347 

Ending balance: individually evaluated for impairment

 

$

 -

 

$

 -

 

$

 -

 

$

 -

 

$

 -

 

$

 -

 

$

 -

 

$

 -

Ending balance: collectively evaluated for impairment

 

$

 403 

 

$

 163 

 

$

 3,444 

 

$

 560 

 

$

 660 

 

$

 24 

 

$

 93 

 

$

 5,347 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross Loans Receivable (1):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ending balance

 

$

 151,356 

 

$

 47,073 

 

$

 216,571 

 

$

 37,338 

 

$

 39,673 

 

$

 1,312 

 

$

 -

 

$

 493,323 

Ending balance: individually evaluated for impairment

 

$

 304 

 

$

 15 

 

$

 -

 

$

 -

 

$

 -

 

$

 -

 

$

 -

 

$

 319 

Ending balance: collectively evaluated for impairment

 

$

 151,052 

 

$

 47,058 

 

$

 216,571 

 

$

 37,338 

 

$

 39,673 

 

$

 1,312 

 

$

 -

 

$

 493,004 



(1) Gross Loans Receivable does not include allowance for loan losses of $(5,347) or deferred loan costs of $3,292.

(2) Includes one- to four-family construction loans.

































 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

Real Estate Loans

 

Other Loans

 

 

 

 

 

 



 

One- to Four-Family(1)

 

Home Equity

 

Commercial

 

Construction - Commercial

 

Commercial

 

Consumer

 

Unallocated

 

Total



 

(Dollars in thousands)

September 30, 2019

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Allowance for Loan Losses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance – July 1, 2019

 

$

 389 

 

$

 144 

 

$

 2,777 

 

$

 379 

 

$

 133 

 

$

 30 

 

$

 11 

 

$

 3,863 

   Charge-offs

 

 

 (2)

 

 

 -

 

 

 (10)

 

 

 -

 

 

 -

 

 

 (13)

 

 

 -

 

 

 (25)

   Recoveries

 

 

 -

 

 

 -

 

 

 1 

 

 

 -

 

 

 -

 

 

 2 

 

 

 -

 

 

 3 

   Provision (credit)

 

 

 (4)

 

 

 (9)

 

 

 122 

 

 

 60 

 

 

 104 

 

 

 7 

 

 

 20 

 

 

 300 

Balance – September 30, 2019

 

$

 383 

 

$

 135 

 

$

 2,890 

 

$

 439 

 

$

 237 

 

$

 26 

 

$

 31 

 

$

 4,141 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance – January 1, 2019

 

$

 471 

 

$

 91 

 

$

 2,020 

 

$

 250 

 

$

 507 

 

$

 25 

 

$

 84 

 

$

 3,448 

   Charge-offs

 

 

 (2)

 

 

 (4)

 

 

 (10)

 

 

 -

 

 

 -

 

 

 (34)

 

 

 -

 

 

 (50)

   Recoveries

 

 

 8 

 

 

 1 

 

 

 3 

 

 

 -

 

 

 -

 

 

 6 

 

 

 -

 

 

 18 

   Provision (credit)

 

 

 (94)

 

 

 47 

 

 

 877 

 

 

 189 

 

 

 (270)

 

 

 29 

 

 

 (53)

 

 

 725 

Balance – September 30, 2019

 

$

 383 

 

$

 135 

 

$

 2,890 

 

$

 439 

 

$

 237 

 

$

 26 

 

$

 31 

 

$

 4,141 



(1) Includes one– to four-family construction loans.





 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

Real Estate Loans

 

 

Other Loans

 

 

 

 

 

 



 

One- to Four-Family(2)

 

Home Equity

 

Commercial

 

Construction - Commercial

 

Commercial

 

Consumer

 

Unallocated

 

Total



 

(Dollars in thousands)



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2019

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Allowance for Loan Losses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance – December 31, 2019

 

$

 436 

 

$

 129 

 

$

 2,682 

 

$

 388 

 

$

 478 

 

$

 26 

 

$

 128 

 

$

 4,267 

Ending balance: individually evaluated for impairment

 

$

 -

 

$

 -

 

$

 -

 

$

 -

 

$

 -

 

$

 -

 

$

 -

 

$

 -

Ending balance: collectively evaluated for impairment

 

$

 436 

 

$

 129 

 

$

 2,682 

 

$

 388 

 

$

 478 

 

$

 26 

 

$

 128 

 

$

 4,267 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross Loans Receivable (1):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ending Balance

 

$

 154,749 

 

$

 45,250 

 

$

 211,220 

 

$

 32,299 

 

$

 26,720 

 

$

 1,297 

 

$

 -

 

$

 471,535 

Ending balance: individually evaluated for impairment

 

$

 166 

 

$

 -

 

$

 -

 

$

 -

 

$

 -

 

$

 -

 

$

 -

 

$

 166 

Ending balance: collectively evaluated for impairment

 

$

 154,583 

 

$

 45,250 

 

$

 211,220 

 

$

 32,299 

 

$

 26,720 

 

$

 1,297 

 

$

 -

 

$

 471,369 



(1) Gross Loans Receivable does not include allowance for loan losses of $(4,267) or deferred loan costs of $3,548.

(2) Includes one- to four-family construction loans.

   

Summary of Information Pertaining to Impaired Loans



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

Unpaid

 

 

 

 

Average

 

Interest



 

Recorded

 

Principal

 

Related

 

Recorded

 

Income



 

Investment

 

Balance

 

Allowance

 

Investment

 

Recognized



 

 

 

 

 

 

 

 

 

 

For the Nine Months Ended



 

At September 30, 2020

 

September 30, 2020



 

(Dollars in thousands)

With no related allowance recorded:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential, one- to four-family

 

$

 304 

 

$

 304 

 

$

 -

 

$

 312 

 

$

 11 

Home equity

 

 

 15 

 

 

 15 

 

 

 -

 

 

 16 

 

 

 -

Total impaired loans

 

 

 319 

 

 

 319 

 

 

 -

 

 

 328 

 

 

 11 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 







 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

Unpaid

 

 

 

 

Average

 

Interest



 

Recorded

 

Principal

 

Related

 

Recorded

 

Income



 

Investment

 

Balance

 

Allowance

 

Investment

 

Recognized



 

 

 

 

 

 

 

 

 

 

For the Year Ended



 

At December 31, 2019

 

December 31, 2019



 

(Dollars in thousands)

With no related allowance recorded:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential, one- to four-family

 

$

 166 

 

$

 166 

 

$

 -

 

$

 173 

 

$

 10 

Commercial real estate(1)

 

 

 -

 

 

 -

 

 

 -

 

 

 27 

 

 

 -

Total impaired loans with no related allowance

 

 

 166 

 

 

 166 

 

 

 -

 

 

 200 

 

 

 10 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

With an allowance recorded:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial real estate(2)

 

 

 -

 

 

 -

 

 

 -

 

 

 260 

 

 

 8 

Commercial loans(3)

 

 

 -

 

 

 -

 

 

 -

 

 

 31 

 

 

 1 

Total impaired loans with an allowance

 

 

 -

 

 

 -

 

 

 -

 

 

 291 

 

 

 9 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total of impaired loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential, one- to four-family

 

 

 166 

 

 

 166 

 

 

 -

 

 

 173 

 

 

 10 

Commercial real estate

 

 

 -

 

 

 -

 

 

 -

 

 

 287 

 

 

 8 

Commercial loans

 

 

 -

 

 

 -

 

 

 -

 

 

 31 

 

 

 1 

Total impaired loans

 

$

 166 

 

$

 166 

 

$

 -

 

$

 491 

 

$

 19 



(1) This loan was paid off during the year ended December 31, 2019.

(2) This line item consisted of two commercial real estate loans with a combined recorded investment of $294,000 and a related allowance of $40,000. One commercial real estate loan was paid off in full and the other commercial real estate loan was charged off during the year ended December 31, 2019.

(3)   A commercial business loan with a recorded investment of $30,000 and a related allowance of $15,000 was partially paid off during the year ended December 31, 2019, with the remaining balance being recorded as a loss.

Analysis of Past Due Loans and Non-Accruing Loans





 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

30-59 Days

 

60-89 Days

 

90 Days or More

 

Total Past

 

 

Current

 

Total Loans

 

Loans on Non-



 

Past Due

 

Past Due

 

Past Due

 

Due

 

 

Due

 

Receivable

 

Accrual



 

(Dollars in thousands)

September 30, 2020:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Real Estate Loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential, one- to four-family(1)

 

$

 1,000 

 

$

 203 

 

$

 1,245 

 

$

 2,448 

 

$

 148,908 

 

$

 151,356 

 

$

 2,664 

Home equity

 

 

 144 

 

 

 100 

 

 

 631 

 

 

 875 

 

 

 46,198 

 

 

 47,073 

 

 

 696 

Commercial

 

 

 -

 

 

 -

 

 

 253 

 

 

 253 

 

 

 216,318 

 

 

 216,571 

 

 

 -

Construction - commercial

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 37,338 

 

 

 37,338 

 

 

 -

Other Loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial(2)

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 39,673 

 

 

 39,673 

 

 

 -

Consumer

 

 

 13 

 

 

 -

 

 

 1 

 

 

 14 

 

 

 1,298 

 

 

 1,312 

 

 

 1 

Total

 

$

 1,157 

 

$

 303 

 

$

 2,130 

 

$

 3,590 

 

$

 489,733 

 

$

 493,323 

 

$

 3,361 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

30-59 Days

 

60-89 Days

 

90 Days or More

 

Total Past

 

 

Current

 

Total Loans

 

Loans on Non-



 

Past Due

 

Past Due

 

Past Due

 

Due

 

 

Due

 

Receivable

 

Accrual



 

(Dollars in thousands)

December 31, 2019:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Real Estate Loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential, one- to four-family(1)

 

$

 1,245 

 

$

 672 

 

$

 1,924 

 

$

 3,841 

 

$

 150,908 

 

$

 154,749 

 

$

 2,845 

Home equity

 

 

 168 

 

 

 162 

 

 

 583 

 

 

 913 

 

 

 44,337 

 

 

 45,250 

 

 

 590 

Commercial

 

 

 -

 

 

 1,133 

 

 

 -

 

 

 1,133 

 

 

 210,087 

 

 

 211,220 

 

 

 -

Construction - commercial

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 32,299 

 

 

 32,299 

 

 

 -

Other Loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial

 

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

 26,720 

 

 

 26,720 

 

 

 -

Consumer

 

 

 8 

 

 

 -

 

 

 2 

 

 

 10 

 

 

 1,287 

 

 

 1,297 

 

 

 2 

Total

 

$

 1,421 

 

$

 1,967 

 

$

 2,509 

 

$

 5,897 

 

$

 465,638 

 

$

 471,535 

 

$

 3,437 



(1) Includes one- to four-family construction loans.

(2) Includes $18.6 million of PPP loans which do not require payments for a certain amount of time under the CARES Act and are 100% guaranteed by SBA.

Summary of Internal Loan Grades Applied to Loan Portfolio



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

Pass/Performing

 

Special Mention

 

Substandard

 

Doubtful

 

Loss

 

Total



 

(Dollars in thousands)

September 30, 2020

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Real Estate Loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential, one- to four-family(1)

 

$

 148,727 

 

$

-

 

$

 2,629 

 

$

-

 

$

-

 

$

 151,356 

Home equity

 

 

 46,098 

 

 

-

 

 

 975 

 

 

-

 

 

-

 

 

 47,073 

Commercial(2)

 

 

 201,494 

 

 

 14,477 

 

 

 600 

 

 

-

 

 

-

 

 

 216,571 

Construction - commercial

 

 

 37,338 

 

 

-

 

 

-

 

 

-

 

 

-

 

 

 37,338 

Other Loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial(3)

 

 

 34,340 

 

 

 1,030 

 

 

 4,303 

 

 

-

 

 

-

 

 

 39,673 

Consumer

 

 

 1,311 

 

 

-

 

 

 1 

 

 

-

 

 

-

 

 

 1,312 

             Total

 

$

 469,308 

 

$

 15,507 

 

$

 8,508 

 

$

-

 

$

-

 

$

 493,323 







 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

Pass/Performing

 

Special Mention

 

Substandard

 

Doubtful

 

Loss

 

Total



 

(Dollars in thousands)

December 31, 2019

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Real Estate Loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential, one- to four-family(1)

 

$

 152,115 

 

$

-

 

$

 2,634 

 

$

-

 

$

-

 

$

 154,749 

Home equity

 

 

 44,403 

 

 

-

 

 

 847 

 

 

-

 

 

-

 

 

 45,250 

Commercial

 

 

 208,042 

 

 

 2,573 

 

 

 605 

 

 

-

 

 

-

 

 

 211,220 

Construction - commercial

 

 

 32,299 

 

 

-

 

 

-

 

 

-

 

 

-

 

 

 32,299 

Other Loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial

 

 

 22,295 

 

 

 4,425 

 

 

-

 

 

-

 

 

-

 

 

 26,720 

Consumer

 

 

 1,295 

 

 

-

 

 

 2 

 

 

-

 

 

-

 

 

 1,297 

             Total

 

$

 460,449 

 

$

 6,998 

 

$

 4,088 

 

$

-

 

$

-

 

$

 471,535 



(1) Includes one- to four-family construction loans.

(2) The increase in commercial real estate loans classified as “Special Mention” was primarily due to a $13.3 million loan relationship with one borrower that is well collateralized and supported by guarantors.

(3) Includes $18.6 million of PPP loans which are 100% guaranteed by SBA and are graded as Pass/Performing loans.



Summary of Loans Classified as TDRs



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

Non-Accruing

 

Accruing

 

TDRs That Have Defaulted on Modified Terms Year to Date



Number of Loans

 

Recorded Investment

 

Number of Loans

 

Recorded Investment

 

Number of Loans

 

Recorded Investment

 

Number of Loans

 

Recorded Investment



(Dollars in thousands)

At September 30, 2020

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Real Estate Loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential, one- to four-family

 

 8 

 

$

 304 

 

 

 1 

 

$

 20 

 

 

 7 

 

$

 284 

 

 

 -

 

$

 -

Home equity

 

 1 

 

 

 15 

 

 

-

 

 

-

 

 

 1 

 

 

 15 

 

 

 -

 

 

 -

             Total

 

 9 

 

$

 319 

 

 

 1 

 

$

 20 

 

 

 8 

 

$

 299 

 

 

-

 

$

-



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

At December 31, 2019

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Real Estate Loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential, one- to four-family

 

 5 

 

$

 166 

 

 

 1 

 

$

 28 

 

 

 4 

 

$

 138 

 

 

 -

 

$

 -



Loans which First Deemed to be TDRs [Member]  
Allowance for Loan Losses [Line Items]  
Summary of Loans Classified as TDRs



 

 

 

 

 

 

 

 



 



For the Nine Months Ended September 30, 2020



Number of Loans

 

Pre-Modification Outstanding Recorded Investment

 

Post-Modification Outstanding Recorded Investment



(Dollars in thousands)

Real Estate Loans:

 

 

 

 

 

 

 

 

Residential, one- to four-family

 

 3 

 

$

 150 

 

$

 150 

Home equity

 

 1 

 

 

 16 

 

 

 16 

             Total

 

 4 

 

$

 166 

 

$

 166