LOANS (Tables)

3 Months Ended

Mar. 31, 2013

LOANS

Schedule of composition of net loans

The composition of net loans at March 31, 2013, and December 31, 2012 is provided below (In thousands):

	March 31,			December 31,
	2013			2012
	(Unaudited)
Real estate loans:
One- to-four family	$	150,259		$	158,828
Multi-family and commercial	373,432			368,948
Construction	8,827			22,591
	532,518			550,367
Consumer loans	26,582			30,585
Commercial and industrial loans	129,771			113,820
Total loans	688,871			694,772
Deferred loan origination cost, net	210			263
Allowance for loan losses	(11,603		)	(11,170		)
Net loans	$	677,478		$	683,865

Schedule of changes in allowance for loan losses

The following table presents changes in the allowance for loan losses (In thousands):

	Three Months Ended						Year Ended
	March 31,						December 31,
	2013			2012				2012
	(Unaudited)
Balance, beginning	$	11,170		$	12,075			$	12,075
Provision for loan losses	640			1,275				3,478
Loans charged off	(223		)	(2,054		)		(4,527		)
Recoveries	16			2				144
Balance, ending	$	11,603		$	11,298			$	11,170

Schedule of changes in allowance for loan losses by loan segment

	For the Three Months Ended March 31, 2013 (Unaudited)
		One- to Four- Family			Multi-family and Commercial			Construction Loans			Consumer Loans			Commercial and Industrial		Unallocated			Total
		(In thousands)
Balance, beginning		$	642		$	6,327		$	873		$	232		$	2,630	$	466		$	11,170
Provision for loan losses		(107		)	988			(356		)	17			114		(16		)	640
Loans charged off		(18		)	(161		)	-			(44		)	-		-			(223		)
Recoveries		-			4			-			12			-		-			16
Balance, ending		$	517		$	7,158		$	517		$	217		$	2,744	$	450		$	11,603

	For the Year Ended December 31, 2012
		One- to Four- Family			Multi-family and Commercial			Construction Loans			Consumer Loans			Commercial and Industrial			Unallocated		Total
		(In thousands)
Balance, beginning		$	1,760		$	6,112		$	869		$	455		$	2,657		$	222	$	12,075
Provision for loan losses		286			1,064			252			1,659			(27		)	244		3,478
Loans charged off		(1,408		)	(887		)	(340		)	(1,892		)	-			-		(4,527		)
Recoveries		4			38			92			10			-			-		144
Balance, ending		$	642		$	6,327		$	873		$	232		$	2,630		$	466	$	11,170

Schedule of breakdown of impaired loans by loan segment

March 31, 2013 (Unaudited)
	Nonaccrual Loans		Accruing TDRs		Other Impaired Loans		Total Impaired Loans		Impaired Loans with Allowance		Impaired Loans without Allowance
	(In thousands)
Real estate loans:
One- to four-family	$	2,928	$	707	$	-	$	3,635	$	3,635	$	-
Multi-family and commercial	4,194		6,840		-		11,034		11,034		-
Construction	5,411		-		-		5,411		5,411		-
Consumer loans	147		14		-		161		161		-
Commercial and industrial	-		-		-		-		-		-
Total	$	12,680	$	7,561	$	-	$	20,241	$	20,241	$	-

December 31, 2012
	Nonaccrual Loans		Accruing TDRs		Other Impaired Loans		Total Impaired Loans		Impaired Loans with Allowance		Impaired Loans without Allowance
	(In thousands)
Real estate loans:
One- to four-family	$	3,355	$	507	$	-	$	3,862	$	3,862	$	-
Multi-family and commercial	5,284		6,867		-		12,151		11,770		381
Construction	6,434		-		-		6,434		6,434		-
Consumer loans	2,051		14		-		2,065		203		1,862
Commercial and industrial	-		-		-		-		-		-
Total	$	17,124	$	7,388	$	-	$	24,512	$	22,269	$	2,243

Schedule of allowance for loan loss for impaired loans and general allowance by loan segment

	For the Three Months Ended March 31, 2013
						TDRs that Defaulted in
						Current Period that
						were Restructured in
	Restructured Current Period					the Prior Twelve Months
		Pre-		Post-			Post-
		Modification		Modification			Modification
		Outstanding		Outstanding			Outstanding
	Number	Recorded		Recorded		Number	Recorded
	of Loans	Investment		Investment		of Loans	Investment
	(Dollars in thousands, Unaudited)
Real estate loans:
One- to four-family	-	$	-	$	-	-	$	-
Multi-family and commercial	-	-		-		-	-
Construction	-	-		-		-	-
Consumer loans	-	-		-		-	-
Commercial and industrial	-	-		-		-	-
Total	-	$	-	$	-	-	$	-
	For the Three Months Ended March 31, 2012
						TDRs that Defaulted in
						Current Period that
						were Restructured in
	Restructured Current Period					the Prior Twelve Months
		Pre-		Post-			Post-
		Modification		Modification			Modification
		Outstanding		Outstanding			Outstanding
	Number	Recorded		Recorded		Number	Recorded
	of Loans	Investment		Investment		of Loans	Investment
	(Dollars in thousands, Unaudited)
Real estate loans:
One- to four-family	2	$	293	$	293	-	$	-
Multi-family and commercial	1	519		519		-	-
Construction	-	-		-		-	-
Consumer loans	-	-		-		-	-
Commercial and industrial	-	-		-		-	-
Total	3	$	812	$	812	-	$	-

Summary of TDR activity for the periods

March 31, 2013 (Unaudited)	Allowance for Loan Losses
	Impaired Loans
					Other		Total
	Nonaccrual		Accruing		Impaired		Impaired
	Loans		TDRs		Loans		Loans		General		Total
	(In thousands)
Real estate loans:
One- to four-family	$	224	$	1	$	-	$	225	$	292	$	517
Multi-family and commercial	881		958		-		1,839		5,319		7,158
Construction	420		-		-		420		97		517
Consumer loans	6				-		6		211		217
Commercial and industrial	-		-		-		-		2,744		2,744
Unallocated	-		-		-		-		450		450
Total allowance for loan losses	$	1,531	$	959	$	-	$	2,490	$	9,113	$	11,603
December 31, 2012	Allowance for Loan Losses
	Impaired Loans
					Other		Total
	Nonaccrual		Accruing		Impaired		Impaired
	Loans		TDR’s		Loans		Loans		General		Total
	(In thousands)
Real estate loans:
One- to four-family	$	337	$	5	$	-		342	$	300	$	642
Multi-family and commercial	530		948		-		1,478		4,849		6,327
Construction	449		-		-		449		424		873
Consumer loans	10		1		-		11		221		232
Commercial and industrial	-		-		-		-		2,630		2,630
Unallocated	-		-		-		-		466		466
Total allowance for loan losses	$	1,326	$	954	$	-	$	2,280	$	8,890	$	11,170

Schedule of past due loans by segment

	At March 31,				At December 31,
	2013				2012
	(Unaudited)
	30-59		60-89		30-59		60-89
	Days		Days		Days		Days
	Past Due		Past Due		Past Due		Past Due
	(In thousands)
One- to four-family real estate	$	1,239	$	-	$	18	$	284
Multi-family and commercial real estate	-		66		-		1,691
Construction	-		-		-		-
Consumer	238		8		23		51
Commercial and industrial	-		-		-		-
Total	$	1,477	$	74	$	41	$	2,026

Schedule of criticized and classified loans by segment

	At March 31, 2013 (Unaudited)
	One- to Four-Family Loans		Multi-family and Commercial		Construction Loans		Consumer Loans		Commercial and Industrial		Total
	(In thousands)
Pass and Pass watch	$	147,331	$	349,111	$	3,416	$	26,434	$	127,373	$	653,665
Special mention loans	-		10,060		-		-		2,398		12,458
Substandard loans	2,928		14,261		5,411		148		-		22,748
Doubtful loans	-		-		-		-		-		-
Total loans	$	150,259	$	373,432	$	8,827	$	26,582	$	129,771	$	688,871

	At December 31, 2012
	One- to Four-Family Loans		Multi-family and Commercial		Construction Loans		Consumer Loans		Commercial and Industrial		Total
	(In thousands)
Pass and Pass watch	$	155,473	$	347,150	$	16,157	$	28,534	$	110,032	$	657,346
Special mention loans	-		6,733		-		-		3,633		10,366
Substandard loans	3,355		15,065		6,434		2,051		155		27,060
Doubtful loans	-		-		-		-		-		-
Total loans	$	158,828	$	368,948	$	22,591	$	30,585	$	113,820	$	694,772