Loans Receivable and Allowance for Loan Losses (Tables)

6 Months Ended

Jun. 30, 2020

Loans Receivable and Allowance for Loan Losses

Schedule of components of loans receivable

	June 30,		December 31,
(Dollars in thousands)	2020		2019
Real estate loans:
First mortgages:
One- to four-family residential	$	1,491,552	$	1,536,781
Multi-family residential		8,987		9,965
Construction, commercial and other		22,161		23,382
Home equity loans and lines of credit		9,992		10,084
Total real estate loans		1,532,692		1,580,212
Other loans:
Loans on deposit accounts		276		235
Consumer and other loans		11,105		9,484
Total other loans		11,381		9,719
Less:
Net unearned fees and discounts		(2,250)		(2,435)
Allowance for loan losses		(4,256)		(2,712)
Total unearned fees, discounts and allowance for loan losses		(6,506)		(5,147)
Loans receivable, net	$	1,537,567	$	1,584,784

Schedule of activity in allowance for loan losses on loans receivable and by portfolio segment

			Construction,		Home
			Commercial		Equity
			and Other		Loans and
	Residential		Mortgage		Lines of		Consumer
(Dollars in thousands)	Mortgage		Loans		Credit		and Other		Unallocated		Totals
Three months ended June 30, 2020:
Balance, beginning of period	$	1,863	$	452	$	1	$	172	$	430	$	2,918
Provision (reversal of provision) for loan losses		1,157		7		(10)		92		149		1,395
		3,020		459		(9)		264		579		4,313
Charge-offs		—		—		—		(68)		—		(68)
Recoveries		—		—		10		1		—		11
Net recoveries (charge-offs)		—		—		10		(67)		—		(57)
Balance, end of period	$	3,020	$	459	$	1	$	197	$	579	$	4,256
Six months ended June 30, 2020:
Balance, beginning of period	$	1,741	$	511	$	1	$	54	$	405	$	2,712
Provision (reversal of provision) for loan losses		1,279		(52)		(10)		221		174		1,612
		3,020		459		(9)		275		579		4,324
Charge-offs		—		—		—		(80)		—		(80)
Recoveries		—		—		10		2		—		12
Net recoveries (charge-offs)		—		—		10		(78)		—		(68)
Balance, end of period	$	3,020	$	459	$	1	$	197	$	579	$	4,256

			Construction,		Home
			Commercial		Equity
			and Other		Loans and
	Residential		Mortgage		Lines of		Consumer
(Dollars in thousands)	Mortgage		Loans		Credit		and Other		Unallocated		Totals
Three months ended June 30, 2019:
Balance, beginning of period	$	1,800	$	454	$	1	$	45	$	359	$	2,659
Provision (reversal of provision) for loan losses		(31)		(43)		—		(9)		32		(51)
		1,769		411		1		36		391		2,608
Charge-offs		—		—		—		(9)		—		(9)
Recoveries		—		—		—		17		—		17
Net recoveries		—		—		—		8		—		8
Balance, end of period	$	1,769	$	411	$	1	$	44	$	391	$	2,616
Six months ended June 30, 2019:
Balance, beginning of period	$	1,797	$	443	$	1	$	47	$	354	$	2,642
Provision (reversal of provision) for loan losses		(46)		(32)		—		(5)		37		(46)
		1,751		411		1		42		391		2,596
Charge-offs		—		—		—		(16)		—		(16)
Recoveries		18		—		—		18		—		36
Net recoveries		18		—		—		2		—		20
Balance, end of period	$	1,769	$	411	$	1	$	44	$	391	$	2,616

Schedule of balance in allowance for loan losses and the recorded investment in loans by portfolio segment and based on impairment method

			Construction,		Home
			Commercial		Equity
			and Other		Loans and
	Residential		Mortgage		Lines of		Consumer
(Dollars in thousands)	Mortgage		Loans		Credit		and Other		Unallocated		Totals
June 30, 2020:
Allowance for loan losses:
Ending allowance balance:
Individually evaluated for impairment	$	—	$	—	$	—	$	—	$	—	$	—
Collectively evaluated for impairment		3,020		459		1		197		579		4,256
Total ending allowance balance	$	3,020	$	459	$	1	$	197	$	579	$	4,256
Loans:
Ending loan balance:
Individually evaluated for impairment	$	1,310	$	—	$	24	$	—	$	—	$	1,334
Collectively evaluated for impairment		1,497,016		22,109		9,969		11,395		—		1,540,489
Total ending loan balance	$	1,498,326	$	22,109	$	9,993	$	11,395	$	—	$	1,541,823
December 31, 2019:
Allowance for loan losses:
Ending allowance balance:
Individually evaluated for impairment	$	—	$	—	$	—	$	—	$	—	$	—
Collectively evaluated for impairment		1,741		511		1		54		405		2,712
Total ending allowance balance	$	1,741	$	511	$	1	$	54	$	405	$	2,712
Loans:
Ending loan balance:
Individually evaluated for impairment	$	1,224	$	—	$	89	$	—	$	—	$	1,313
Collectively evaluated for impairment		1,543,125		23,326		9,997		9,735		—		1,586,183
Total ending loan balance	$	1,544,349	$	23,326	$	10,086	$	9,735	$	—	$	1,587,496

Schedule of balance of impaired loans individually evaluated for impairment by class of loans

			Unpaid
	Recorded		Principal
(Dollars in thousands)	Investment		Balance
June 30, 2020:
With no related allowance recorded:
One- to four-family residential mortgages	$	1,310	$	1,726
Home equity loans and lines of credit		24		32
Total	$	1,334	$	1,758
December 31, 2019:
With no related allowance recorded:
One- to four-family residential mortgages	$	1,224	$	1,615
Home equity loans and lines of credit		89		178
Total	$	1,313	$	1,793

Schedule of average recorded investment and interest income recognized on impaired loans by class of loans

	For the Three Months Ended				For the Six Months Ended
	June 30,				June 30,
	Average		Interest		Average		Interest
	Recorded		Income		Recorded		Income
(Dollars in thousands)	Investment		Recognized		Investment		Recognized
2020:
With no related allowance recorded:
One- to four-family residential mortgages	$	1,321	$	9	$	1,334	$	17
Home equity loans and lines of credit		25		—		25		—
Total	$	1,346	$	9	$	1,359	$	17
2019:
With no related allowance recorded:
One- to four-family residential mortgages	$	1,390	$	8	$	1,404	$	17
Home equity loans and lines of credit		100		—		103		—
Total	$	1,490	$	8	$	1,507	$	17

Schedule of aging of loans and accrual status by class of loans

															Loans
															90 Days
															or More
	30 - 59		60 - 89		90 Days or										Past Due
	Days Past		Days Past		More		Total Past		Loans Not		Total		Nonaccrual		and Still
(Dollars in thousands)	Due		Due		Past Due		Due		Past Due		Loans		Loans		Accruing
June 30, 2020:
One- to four-family residential mortgages	$	232	$	164	$	135	$	531	$	1,488,824	$	1,489,355	$	739	$	—
Multi-family residential mortgages		—		—		—		—		8,971		8,971		—		—
Construction, commercial and other mortgages		—		—		—		—		22,109		22,109		—		—
Home equity loans and lines of credit		—		24		—		24		9,969		9,993		24		—
Loans on deposit accounts		—		—		—		—		276		276		—		—
Consumer and other		1		—		29		30		11,089		11,119		—		29
Total	$	233	$	188	$	164	$	585	$	1,541,238	$	1,541,823	$	763	$	29
December 31, 2019:
One- to four-family residential mortgages	$	—	$	959	$	—	$	959	$	1,533,446	$	1,534,405	$	647	$	—
Multi-family residential mortgages		—		—		—		—		9,944		9,944		—		—
Construction, commercial and other mortgages		—		—		—		—		23,326		23,326		—		—
Home equity loans and lines of credit		—		26		—		26		10,060		10,086		89		—
Loans on deposit accounts		—		—		—		—		235		235		—		—
Consumer and other		33		1		1		35		9,465		9,500		—		1
Total	$	33	$	986	$	1	$	1,020	$	1,586,476	$	1,587,496	$	736	$	1

Summary of troubled debt restructurings by class of loan

	Number of		Accrual		Number of		Nonaccrual
(Dollars in thousands)	Loans		Status		Loans		Status		Total
June 30, 2020:
One- to four-family residential mortgages		3	$	571		2	$	495	$	1,066
Total		3	$	571		2	$	495	$	1,066
December 31, 2019:
One- to four-family residential mortgages		3	$	577		2	$	525	$	1,102
Home equity loans and lines of credit		—		—		1		64		64
Total		3	$	577		3	$	589	$	1,166