LOANS RECEIVABLE (Tables)

3 Months Ended

Mar. 31, 2015

Schedule Of Classification Of Loans Receivable [Table Text Block]

A summary of loans receivable at March 31, 2015 and December 31, 2014 is as follows:

	March 31,		December 31,
(In thousands)	2015		2014

Real estate loans:
One-to-four family	$	177,874	$	180,739
Multi-family and commercial real estate		132,784		122,526
Construction and land development		3,531		3,415
Total real estate loans		314,189		306,680

Commercial business loans		24,353		25,801
Consumer loans:
Home equity		30,068		28,700
Other consumer		7,450		8,144
Total consumer loans		37,518		36,844
Total loans		376,060		369,325

Less:
Allowance for loan losses		5,951		6,023
Deferred loan origination fees, net		45		43
Loans receivable, net	$	370,064	$	363,259

Financing Receivable Credit Quality Indicators [Table Text Block]

The following tables are a summary of the loan portfolio credit quality indicators, by loan class, as of March 31, 2015 and December 31, 2014:

	Credit Risk Profile by Internally Assigned Grade:
March 31, 2015	One-to-Four Family		Multi-Family and Commercial Real Estate		Construction and Land Development		Commercial Business Loans		Consumer Loans		Total
(In thousands)
Risk Rating:
Pass	$	174,397	$	126,448	$	2,069	$	22,183	$	36,982	$	362,079
Special Mention		725		3,893		819		615		206		6,258
Substandard:
- Accruing		19		1,477		-		799		143		2,438
- Nonaccruing		2,733		966		643		756		187		5,285
Subtotal - substandard		2,752		2,443		643		1,555		330		7,723
Doubtful		-		-		-		-		-		-
Total	$	177,874	$	132,784	$	3,531	$	24,353	$	37,518	$	376,060

	Multi-Family and Commercial Real Estate
	Credit Risk Profile by Internally Assigned Grade:
March 31, 2015	Investor Owned One-to-Four family and multi-family		Industrial and Warehouse Properties		Office Buildings		Retail Properties		Special Use Properties		Total Multi-Family and Commercial Real Estate
(In thousands)
Risk Rating:
Pass	$	28,303	$	23,260	$	23,655	$	17,157	$	34,073	$	126,448
Special Mention		897		1,135		34		398		1,429		3,893
Substandard:
- Accruing		249		-		98		148		982		1,477
- Nonaccruing		389		21		546		-		10		966
Subtotal - substandard		638		21		644		148		992		2,443
Doubtful		-		-		-		-		-		-
Total	$	29,838	$	24,416	$	24,333	$	17,703	$	36,494	$	132,784

	Credit Risk Profile by Internally Assigned Grade:
December 31, 2014	One-to-Four Family		Multi-Family and Commercial Real Estate		Construction and Land Development		Commercial Business Loans		Consumer Loans		Total
(In thousands)
Risk Rating:
Pass	$	177,598	$	116,020	$	1,835	$	23,535	$	36,348	$	355,336
Special Mention		731		4,040		853		707		207		6,538
Substandard:
- Accruing		19		1,498		-		755		74		2,346
- Nonaccruing		2,391		968		727		804		215		5,105
Subtotal - substandard		2,410		2,466		727		1,559		289		7,451
Doubtful		-		-		-		-		-		-
Total	$	180,739	$	122,526	$	3,415	$	25,801	$	36,844	$	369,325

	Multi-Family and Commercial Real Estate
	Credit Risk Profile by Internally Assigned Grade:
December 31, 2014	Investor Owned One-to-Four family and multi-family		Industrial and Warehouse Properties		Office Buildings		Retail Properties		Special Use Properties		Total Multi-Family and Commercial Real Estate
(In thousands)
Risk Rating:
Pass	$	23,793	$	23,707	$	23,503	$	17,092	$	27,925	$	116,020
Special Mention		1,027		1,145		319		104		1,445		4,040
Substandard:
- Accruing		252		-		100		150		996		1,498
- Nonaccruing		389		23		546		-		10		968
Subtotal - substandard		641		23		646		150		1,006		2,466
Doubtful		-		-		-		-		-		-
Total	$	25,461	$	24,875	$	24,468	$	17,346	$	30,376	$	122,526

Past Due Financing Receivables [Table Text Block]

The following tables set forth certain information with respect to our loan portfolio delinquencies, by loan class, as of March 31, 2015 and December 31, 2014:

	Delinquencies
													Carrying
					Greater								Amount >
	31-60 Days		61-90 Days		Than		Total Past						90 Days and
As of March 31, 2015	Past Due		Past Due		90 Days		Due		Current		Total Loans		Accruing
(In thousands)
Real estate loans
One-to-four family	$	1,157	$	159	$	1,268	$	2,584	$	175,290	$	177,874	$	-
Construction and land development		-		-		596		596		2,935		3,531		-
Multi-family and commercial real estate:
Investor owned one-to-four family and multi-family		-		-		389		389		29,449		29,838		-
Industrial and Warehouse		-		-		-		-		24,416		24,416		-
Office buildings		878		-		206		1,084		23,249		24,333		-
Retail properties		148		-		-		148		17,555		17,703		-
Special use properties		233		-		-		233		36,261		36,494		-
Subtotal Multi-family and commercial real estate		1,259		-		595		1,854		130,930		132,784		-
Commercial business loans		44		-		582		626		23,727		24,353		-
Consumer loans:
Home equity loans		231		98		77		406		29,662		30,068		-
Other consumer loans		3		1		-		4		7,446		7,450		-
Subtotal Consumer		234		99		77		410		37,108		37,518		-
Total	$	2,694	$	258	$	3,118	$	6,070	$	369,990	$	376,060	$	-

	Delinquencies
													Carrying
					Greater								Amount >
	31-60 Days		61-90 Days		Than		Total Past						90 Days and
As of December 31, 2014	Past Due		Past Due		90 Days		Due		Current		Total Loans		Accruing
(In thousands)
Real estate loans
One-to-four family	$	349	$	153	$	1,594	$	2,096	$	178,643	$	180,739	$	-
Construction and land development		-		-		726		726		2,689		3,415		-
Multi-family and commercial real estate:
Investor owned one-to-four family and multi-family		-		-		389		389		25,072		25,461		-
Industrial and Warehouse		-		-		-		-		24,875		24,875		-
Office buildings		-		-		206		206		24,262		24,468		-
Retail properties		-		-		-		-		17,346		17,346		-
Special use properties		-		-		-		-		30,376		30,376		-
Subtotal Multi-family and commercial real estate		-		-		595		595		121,931		122,526		-
Commercial business loans		972		-		703		1,675		24,126		25,801		-
Consumer loans:
Home equity loans		222		97		28		347		28,353		28,700		-
Other consumer loans		6		-		-		6		8,138		8,144		-
Subtotal Consumer		228		97		28		353		36,491		36,844		-
Total	$	1,549	$	250	$	3,646	$	5,445	$	363,880	$	369,325	$	-

Impaired Financing Receivables [Table Text Block]

The following table sets forth certain information with respect to our nonperforming assets as of March 31, 2015 and December 31, 2014:

	March 31,			December 31,
	2015			2014

Nonperforming Assets	(Dollars in thousands)
Nonaccrual loans:
One-to-four family	$	1,644		$	1,414
Multi-family and commercial real estate		371			375
Construction and land development		643			726
Commercial business loans		756			804
Consumer loans		187			187
Total		3,601			3,506
Troubled debt restructurings - non-accrual		1,684			1,600
Subtotal nonperforming loans		5,285			5,106
Foreclosed real estate		100			335
Total nonperforming assets	$	5,385		$	5,441

Total nonperforming loans to total loans		1.41	%		1.38	%

Total nonperforming loans to total assets		1.04	%		1.03	%

Total nonperforming assets to total assets		1.06	%		1.10	%

Schedule Of Impaired Loans Receivable [Table Text Block]

The following tables summarize impaired loans by portfolio segment as of March 31, 2015 and December 31, 2014:

As of March 31, 2015	Recorded Investment with No Specific Valuation Allowance		Recorded Investment with Specific Valuation Allowance		Total Recorded Investment		Unpaid Contractual Principal Balance		Related Specific Valuation Allowance

	(In thousands)
Real estate loans
One-to-four family	$	2,901	$	1,534	$	4,435	$	4,772	$	62
Construction and land development		643		-		643		940		-
Multi-family and commercial real estate:
Investor owned one-to-four family and multi-family properties		389		-		389		395		-
Industrial and warehouse properties		21		-		21		26		-
Office buildings		546		-		546		750		-
Retail properties		-		-		-		-		-
Special use properties		10		-		10		24		-
Subtotal		966		-		966		1,195		-
Commercial business loans		740		185		925		987		3
Consumer loans		328		132		460		490		5
Total impaired loans	$	5,578	$	1,851	$	7,429	$	8,384	$	70

As of December 31, 2014	Recorded Investment with No Specific Valuation Allowance		Recorded Investment with Specific Valuation Allowance		Total Recorded Investment		Unpaid Contractual Principal Balance		Related Specific Valuation Allowance

	(In thousands)
Real estate loans
One-to-four family	$	2,793	$	1,536	$	4,329	$	4,555	$	59
Construction and land development		685		-		685		1,022		-
Multi-family and commercial real estate:
Investor owned one-to-four family and multi-family properties		389		-		389		395		-
Industrial and warehouse properties		22		-		22		28		-
Office buildings		546		-		546		750		-
Retail properties		-		-		-		-		-
Special use properties		10		-		10		24		-
Subtotal		967		-		967		1,197		-
Commercial business loans		759		192		951		1,042		4
Consumer loans		385		133		518		521		9
Total impaired loans	$	5,589	$	1,861	$	7,450	$	8,337	$	72

Schedule Of Interest Income Recognized By Class Of Impaired Loans [Table Text Block]

The following table relates to interest income recognized by segment of impaired loans for the three months ended March 31, 2015 and 2014:

	Three Months Ended March 31,
	2015				2014
	Average Recorded Investments		Interest Income Recognized		Average Recorded Investments		Interest Income Recognized

Real estate loans	(In thousands)
One-to four-family	$	4,329	$	36	$	6,896	$	53
Construction		685		-		1,715		1
Multi-family and commercial real estate		967		-		3,479		17
Commercial business loans		951		3		1,931		22
Consumer loans		476		4		539		5
Total	$	7,408	$	43	$	14,560	$	98

Impaired Loans Modified Tdr [Table Text Block]

The recorded investment balance of performing and nonperforming TDRs as of March 31, 2015 and December 31, 2014 are as follows:

(In thousands)	As of March 31, 2015		As of December 31, 2014
Aggregate recorded investment of impaired loans performing under
terms modified through a troubled debt restructuring:
Performing (1)	$	2,981	$	2,549
Nonperforming (2)		768		1,256
Total	$	3,749	$	3,805

(1)

Of the $2,981,000 in TDRs which were performing under the modified terms of their agreements at March 31, 2015, there were $967,000 in TDRs that remain on nonaccrual status because these TDRs have not yet demonstrated the requisite period of sustained performance. The combination of the $967,000 performing TDRs and the $717,000 nonperforming TDRs on nonaccrual status at March 31, 2015 equal the $1,684,000 in TDRs that were on nonaccrual status at March 31, 2015.

Of the $2,549,000 in TDRs which were performing under the modified terms of their agreements at December 31, 2014, there were $2,164,000 in TDRs that remain on nonaccrual status because these TDRs have not yet demonstrated the requisite period of sustained performance. The combination of the $385,000 performing TDRs and the $1,215,000 nonperforming TDRs on nonaccrual status at December 31, 2014 equal the $1,600,000 in TDRs that were on nonaccrual status at December 31, 2014.

(2)

Of the $768,000 in TDRs that were not performing under the modified terms of their agreements at March 31, 2015, all of these loans, except for two loans in the amount of $52,000, were on nonaccrual status.

All of the $1,256,000 in TDRs which were not performing under the modified terms of their agreements at December 31, 2014, except for one loan in the amount of $40,000, were on nonaccrual status.

Troubled Debt Restructurings on Financing Receivables [Table Text Block]

The following tables present a breakdown of the type of concessions made by loan class during the three months ended March 31, 2014:

	For the Three Months Ended March 31, 2014
(Dollars in thousands)	Number of Loans		Pre-Modification Recorded Investment		Post-Modification Recorded Investment		%
Below market interest rate:
Commercial business loans		3	$	30	$	30		12.1	%
Subtotal		3		30		30		12.1	%

Extended payment terms:
Commercial business loans		1		98		98		39.5	%
Subtotal		1		98		98		39.5	%

Principal payments deferred:
Real estate loans:
One-to-four family		1		120		120		48.4	%
Subtotal		1		120		120		48.4	%

Grand Totals		5	$	248	$	248		100.0	%

Allowance for Credit Losses on Financing Receivables [Table Text Block]

The following tables set forth the balance of and transactions in the allowance for loan losses at March 31, 2015, December 31, 2014 and March 31, 2014, by portfolio segment, disaggregated by impairment methodology, which is then further segregated by loans evaluated for impairment individually and collectively.

As of and for the Three Months	One-to-Four Family		Multi-Family and Commercial Real Estate		Construction and Land Development		Commercial Business Loans		Consumer Loans		Total
Ended March 31, 2015
(In thousands)
Allowance for loan losses:
Beginning balance	$	1,633	$	3,097	$	414	$	592	$	287	$	6,023
Provision for loan losses		(198)		143		84		(94)		65		-
Charge-offs		(15)		-		-		(9)		(91)		(115)
Recoveries		-		-		16		26		1		43
Balance at March 31, 2015	$	1,420	$	3,240	$	514	$	515	$	262	$	5,951
Allowance related to loans:
Individually evaluated for impairment	$	62	$	-	$	-	$	3	$	5	$	70
Collectively evaluated for impairment		1,358		3,240		514		512		257		5,881
Total allowance	$	1,420	$	3,240	$	514	$	515	$	262	$	5,951

Ending loan balance individually evaluated for impairment	$	4,435	$	966	$	643	$	925	$	460	$	7,429
Ending loan balance collectively evaluated for impairment		173,439		131,818		2,888		23,428		37,058		368,631
Total loans	$	177,874	$	132,784	$	3,531	$	24,353	$	37,518	$	376,060

	Multi-Family and Commercial Real Estate
As of and for the Three Months	Investor One-to-Four Family and Multi-Family		Industrial and Warehouse Properties		Office Buildings		Retail Properties		Special Use Properties		Total Multi-Family and Commercial Real Estate
Ended March 31, 2015
(In thousands)
Allowance for loan losses:
Beginning balance	$	509	$	597	$	352	$	548	$	1,091	$	3,097
Provision for loan losses		(66)		(8)		(7)		31		193		143
Charge-offs		-		-		-		-		-		-
Recoveries		-		-		-		-		-		-
Balance at March 31, 2015	$	443	$	589	$	345	$	579	$	1,284	$	3,240
Allowance related to loans:
Individually evaluated for impairment	$	-	$	-	$	-	$	-	$	-	$	-
Collectively evaluated for impairment		443		589		345		579		1,284		3,240
Total allowance	$	443	$	589	$	345	$	579	$	1,284	$	3,240

Ending loan balance individually evaluated for impairment	$	389	$	21	$	546	$	-	$	10	$	966
Ending loan balance collectively evaluated for impairment		29,449		24,395		23,787		17,703		36,484		131,818
Total loans	$	29,838	$	24,416	$	24,333	$	17,703	$	36,494	$	132,784

As of and for the Three Months	One-to-Four Family		Multi-Family and Commercial Real Estate		Construction and Land Development		Commercial Business Loans		Consumer Loans		Total
Ended March 31, 2014
(In thousands)
Allowance for loan losses:
Beginning balance	$	1,849	$	5,097	$	1,118	$	1,443	$	384	$	9,891
Provision for loan losses		117		177		84		(309)		(69)		-
Charge-offs		(32)		(12)		(102)		(36)		(2)		(184)
Recoveries		-		-		15		57		86		158
Balance at March 31, 2014	$	1,934	$	5,262	$	1,115	$	1,155	$	399	$	9,865
Allowance related to loans:
Individually evaluated for impairment	$	49	$	12	$	21	$	88	$	46	$	216
Collectively evaluated for impairment		1,885		5,250		1,094		1,067		353		9,649
Total allowance	$	1,934	$	5,262	$	1,115	$	1,155	$	399	$	9,865

Ending loan balance individually evaluated for impairment	$	6,790	$	2,872	$	1,584	$	1,283	$	499	$	13,028
Ending loan balance collectively evaluated for impairment		177,741		119,457		3,944		22,967		32,700		356,809
Total loans	$	184,531	$	122,329	$	5,528	$	24,250	$	33,199	$	369,837

	Multi-Family and Commercial Real Estate
As of and for the Three Months	Investor One-to-Four Family and Multi-Family		Industrial and Warehouse Properties		Office Buildings		Retail Properties		Special Use Properties		Total Multi-Family and Commercial Real Estate
Ended March 31, 2014
(In thousands)
Allowance for loan losses:
Beginning balance	$	515	$	1,034	$	563	$	856	$	2,129	$	5,097
Provision for loan losses		(59)		32		23		217		(36)		177
Charge-offs		-		-		-		-		(12)		(12)
Recoveries		-		-		-		-		-		-
Segment ending balance as of March 31, 2014	$	456	$	1,066	$	586	$	1,073	$	2,081	$	5,262
Allowance related to loans:
Individually evaluated for impairment	$	-	$	-	$	-	$	12	$	-	$	12
Collectively evaluated for impairment		456		1,066		586		1,061		2,081		5,250
Total allowance	$	456	$	1,066	$	586	$	1,073	$	2,081	$	5,262

Ending loan balance individually evaluated for impairment	$	1,154	$	29	$	206	$	377	$	1,106	$	2,872
Ending loan balance collectively evaluated for impairment		15,875		29,596		20,725		22,906		30,355		119,457
Total loans	$	17,029	$	29,625	$	20,931	$	23,283	$	31,461	$	122,329

As of and for the Year	One-to-Four Family		Multi-Family and Commercial Real Estate		Construction and Land Development		Commercial Business Loans		Consumer Loans		Total
Ended December 31, 2014
(In thousands)
Allowance related to loans:
Individually evaluated for impairment	$	59	$	-	$	-	$	4	$	9	$	72
Collectively evaluated for impairment		1,574		3,097		414		588		278		5,951
Total allowance	$	1,633	$	3,097	$	414	$	592	$	287	$	6,023

Ending loan balance individually evaluated for impairment	$	4,223	$	969	$	726	$	978	$	492	$	7,388
Ending loan balance collectively evaluated for impairment		176,516		121,557		2,689		24,823		36,352		361,937
Total loans	$	180,739	$	122,526	$	3,415	$	25,801	$	36,844	$	369,325

	Multi-Family and Commercial Real Estate
As of and for the Year	Investor One-to-Four Family and Multi-Family		Industrial and Warehouse Properties		Office Buildings		Retail Properties		Special Use Properties		Total Multi-Family and Commercial Real Estate
Ended December 31, 2014
(In thousands)
Allowance related to loans:
Individually evaluated for impairment	$	-	$	-	$	-	$	-	$	-	$	-
Collectively evaluated for impairment		509		597		352		548		1,091		3,097
Total allowance	$	509	$	597	$	352	$	548	$	1,091	$	3,097

Ending loan balance individually evaluated for impairment	$	389	$	23	$	546	$	-	$	11	$	969
Ending loan balance collectively evaluated for impairment		25,072		24,852		23,922		17,346		30,365		121,557
Total loans	$	25,461	$	24,875	$	24,468	$	17,346	$	30,376	$	122,526