Loans (Tables)

12 Months Ended

Dec. 31, 2019

Loans

Schedule of composition of loans

	2019		2018
1 – 4 family residential	$	48,140	$	56,043
Commercial		257,957		191,828
Multifamily		152,633		136,537
Commercial real estate		52,477		33,145
Construction		6,450		5,921
Consumer		47,322		43,675
Total Loans		564,979		467,149
Deferred costs and unearned premiums, net		390		952
Allowance for loan losses		(6,989)		(5,629)
Loans, net	$	558,380	$	462,472

Schedule of activity in allowance for loan losses

	1-4 Family						Commercial
	Residential		Commercial		Multifamily		Real Estate		Construction		Consumer		Total
December 31, 2019
Allowance for loan losses:
Beginning balance	$	407	$	3,110	$	952	$	357	$	149	$	654	$	5,629
Provision (credit) for loan losses		(63)		957		159		203		12		582		1,850
Recoveries		—		—		—		—		—		—		—
Loans charged-off		—		(19)		(63)		—		—		(408)		(490)
Total ending allowance balance	$	344	$	4,048	$	1,048	$	560	$	161	$	828	$	6,989
December 31, 2018
Allowance for loan losses:
Beginning balance	$	382	$	2,272	$	713	$	266	$	127	$	504	$	4,264
Provision for loan losses		25		838		239		91		22		160		1,375
Recoveries		—		—		—		—		—		—		—
Loans charged-off		—		—		—		—		—		(10)		(10)
Total ending allowance balance	$	407	$	3,110	$	952	$	357	$	149	$	654	$	5,629
December 31, 2017
Allowance for loan losses:
Beginning balance	$	360	$	1,934	$	621	$	238	$	141	$	119	$	3,413
Provision (credit) for loan losses		22		352		92		28		(14)		425		905
Recoveries		—		—		—		—		—		—		—
Loans charged-off		—		(14)		—		—		—		(40)		(54)
Total ending allowance balance	$	382	$	2,272	$	713	$	266	$	127	$	504	$	4,264

The following tables present the balance in the allowance for loan losses and the recorded investment in loans by class and based on impairment method as of December 31, 2019 and 2018:

	1‑4 Family						Commercial
	Residential		Commercial		Multifamily		Real Estate		Construction		Consumer		Total
December 31, 2019
Allowance for loan losses:
Ending allowance balance attributable to loans:
Individually evaluated for impairment	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Collectively evaluated for impairment		344		4,048		1,048		560		161		828		6,989
Total ending allowance balance	$	344	$	4,048	$	1,048	$	560	$	161	$	828	$	6,989
Loans:
Loans individually evaluated for impairment	$	—	$	—	$	—	$	—	$	—	$	1,476	$	1,476
Loans collectively evaluated for impairment		48,140		257,957		152,633		52,477		6,450		45,846		563,503
Total ending loans balance	$	48,140	$	257,957	$	152,633	$	52,477	$	6,450	$	47,322	$	564,979

Recorded investment is not adjusted for accrued interest, unearned premiums or deferred costs.

	1 – 4 Family						Commercial
	Residential		Commercial		Multifamily		Real Estate		Construction		Consumer		Total
December 31, 2018
Allowance for loan losses:
Ending allowance Balance attributable to loans:
Individually evaluated for impairment	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Collectively evaluated for impairment		407		3,110		952		357		149		654		5,629
Total ending allowance balance	$	407	$	3,110	$	952	$	357	$	149	$	654	$	5,629
Loans:
Loans individually evaluated for impairment	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Loans collectively evaluated for impairment		56,043		191,828		136,537		33,145		5,921		43,675		467,149
Total ending loans balance	$	56,043	$	191,828	$	136,537	$	33,145	$	5,921	$	43,675	$	467,149

Schedule of analysis of the impaired loans

	December 31,
	2019
			Unpaid
	Recorded		Principal
	Investment		Balance
1-4 family residential	$	—	$	—
Commercial		—		—
Multifamily		—		—
Commercial real estate		—		—
Construction		—		—
Consumer		1,476		1,476
Total	$	1,476	$	1,476

	For the year ended December 31,
	2019
	Average		Interest
	Recorded		Income
	Investment		Recognized
1-4 family residential	$	—	$	—
Commercial		—		—
Multifamily		—		—
Commercial real estate		—		—
Construction		—		—
Consumer		541		—
Total	$	541	$	—

Schedule of aging of recorded investment in past due loans

									Total Past
	30-59		60-89		Greater than				Due &
	Days		Days		90 Days		Nonaccrual		Nonaccrual		Loans Not
	Past Due		Past Due		Past Due		Loans		Loans		Past Due		Total
December 31, 2019
1 – 4 family residential	$	—	$	—	$	—	$	—	$	—	$	48,140	$	48,140
Commercial		—		—		—		—		—		257,957		257,957
Multifamily		—		2,602		—		—		2,602		150,031		152,633
Commercial real estate		—		—		—		—		—		52,477		52,477
Construction		—		—		—		—		—		6,450		6,450
Consumer		—		6		—		1,476		1,482		45,840		47,322
Total	$	—	$	2,608	$	—	$	1,476	$	4,084	$	560,895	$	564,979

The $2,602 past due multifamily loan balance was paid off subsequent to December 31, 2019.

Schedule of risk category of loans

	Pass		Special Mention		Substandard		Doubtful
December 31, 2019
1 – 4 family residential	$	48,140	$	—	$	—	$	—
Commercial		257,832		—		125		—
Multifamily		152,633		—		—		—
Commercial real estate		52,477		—		—		—
Construction		6,450		—		—		—
Consumer		42,431		3,415		1,476		—
Total	$	559,963	$	3,415	$	1,601	$	—

	Pass		Special Mention		Substandard		Doubtful
December 31, 2018
1 – 4 family residential	$	56,043	$	—	$	—	$	—
Commercial		182,482		9,166		180		—
Multifamily		136,537		—		—		—
Commercial real estate		33,145		—		—		—
Construction		5,921		—		—		—
Consumer		43,675		—		—		—
Total	$	457,803	$	9,166	$	180	$	—

Schedule of related parties include loans to directors, their related companies and executive officers

Beginning balance	$	8,464
New advances		2,567
Repayments		(2,814)
Ending balance	$	8,217