LOANS AND SERVICING (Tables)

12 Months Ended

Dec. 31, 2015

LOANS AND SERVICING

Summary of loans:

	At		At
	December 31,		December 31,
	2015		2014
	Amount		Amount
	(In thousands)
Residential loans:
One- to four-family	$	86,472	$	84,199
Home equity loans and lines of credit		18,263		16,499
Total residential mortgage loans		104,735		100,698
Commercial loans:
One- to four-family investment property		15,255		8,345
Multi-family real estate		30,709		15,020
Commercial real estate		67,152		62,227
Commercial business		17,548		17,838
Total commercial loans		130,664		103,430
Construction loans:
One- to four-family		12,967		13,056
Multi-family		1,486		10,842
Non-residential		5,925		4,828
Total construction loans		20,378		28,726
Consumer		237		289
Total loans		256,014		233,143
Other items:
Net deferred loan costs		377		379
Allowance for loan losses		(2,408)		(2,229)
Total loans, net	$	253,983	$	231,293

Schedule of information pertaining to the allowance for loan losses

Information pertaining to the allowance for loan losses at and for the year ended December 31, 2015 is as follows:

	Residential				Commercial								Construction
					One- to four-
			Home equity		family
	One- to four-		loans and lines		investment		Multi-family		Commercial		Commercial		One- to four-				Non-
	family		of credit		property		real estate		real estate		business		family		Multi-family		residential		Consumer		Unallocated		Total
	(In thousands)
Allowance for loan losses
Beginning Balance	$	273	$	249	$	46	$	113	$	943	$	311	$	117	$	97	$	77	$	3	$	—	$	2,229
Charge-offs		—		—		—		—		—		(22)		—		—		—		(4)		—		(26)
Recoveries		—		1		—		—		—		—		—		—		—		4		—		5
(Benefit) provision		(76)		26		44		120		78		16		(4)		(85)		14		(1)		68		200
Ending Balance	$	197	$	276	$	90	$	233	$	1,021	$	305	$	113	$	12	$	91	$	2	$	68	$	2,408
Ending balance:
individually evaluated for impairment	$	7	$	—	$	7	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	14
Ending balance:
collectively evaluated for impairment	$	190	$	276	$	83	$	233	$	1,021	$	305	$	113	$	12	$	91	$	2	$	68	$	2,394
Loans
Ending Balance	$	86,472	$	18,263	$	15,255	$	30,709	$	67,152	$	17,548	$	12,967	$	1,486	$	5,925	$	237	$	—	$	256,014
Ending balance:
individually evaluated for impairment	$	1,567	$	104	$	88	$	—	$	287	$	—	$	—	$	—	$	—	$	—	$	—	$	2,046
Ending balance:
collectively evaluated for impairment	$	84,905	$	18,159	$	15,167	$	30,709	$	66,865	$	17,548	$	12,967	$	1,486	$	5,925	$	237	$	—	$	253,968

Information pertaining to the allowance for loan losses at and for the year ended December 31, 2014 is as follows:

	Residential				Commercial								Construction
					One- to four-
			Home equity		family
	One- to four-		loans and lines		investment		Multi-family		Commercial		Commercial		One- to four-				Non-
	family		of credit		property		real estate		real estate		business		family		Multi-family		residential		Consumer		Unallocated		Total
	(In thousands)
Allowance for loan losses
Beginning Balance	$	284	$	274	$	61	$	108	$	1,056	$	291	$	133	$	66	$	63	$	15	$	45	$	2,396
Charge-offs		—		(14)		—		—		(248)		—		—		—		—		(7)		—		(269)
Recoveries		—		1		—		—		—		—		—		—		—		3		—		4
(Benefit) provision		(11)		(12)		(15)		5		135		20		(16)		31		14		(8)		(45)		98
Ending Balance	$	273	$	249	$	46	$	113	$	943	$	311	$	117	$	97	$	77	$	3	$	—	$	2,229
Ending balance:
individually evaluated for impairment	$	7	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	7
Ending balance:
collectively evaluated for impairment	$	266	$	249	$	46	$	113	$	943	$	311	$	117	$	97	$	77	$	3	$	—	$	2,222
Loans
Ending Balance	$	84,199	$	16,499	$	8,345	$	15,020	$	62,227	$	17,838	$	13,056	$	10,842	$	4,828	$	289	$	—	$	233,143
Ending balance:
individually evaluated for impairment	$	317	$	27	$	—	$	—	$	295	$	—	$	—	$	—	$	—	$	—	$	—	$	639
Ending balance:
collectively evaluated for impairment	$	83,882	$	16,472	$	8,345	$	15,020	$	61,932	$	17,838	$	13,056	$	10,842	$	4,828	$	289	$	—	$	232,504

Summary of past-due and non-accrual loans

The following is a summary of past-due and non-accrual loans at December 31, 2015:

	Loans delinquent for:												90 days
					90 days		Total		Total		Total		or more		Non-accrual
	30 - 59 Days		60 - 89 Days		or more		Past Due		Current		Loans		and accruing		Loans
	(In thousands)
Residential loans:
One- to four-family	$	—	$	—	$	649	$	649	$	85,823	$	86,472	$	—	$	776
Home equity loans and lines of credit		273		—		—		273		17,990		18,263		—		—
Commercial loans:
One- to four-family investment property		—		—		—		—		15,255		15,255		—		—
Multi-family real estate		—		—		—		—		30,709		30,709		—		—
Commercial real estate		—		—		—		—		67,152		67,152		—		—
Commercial business		12		—		—		12		17,536		17,548		—		—
Construction loans:
One- to four-family		—		—		—		—		12,967		12,967		—		—
Multi-family		—		—		—		—		1,486		1,486		—		—
Non-residential		—		—		—		—		5,925		5,925		—		—
Consumer		—		4		—		4		233		237		—		—
Total	$	285	$	4	$	649	$	938	$	255,076	$	256,014	$	—	$	776

The following is a summary of past-due and non-accrual loans at December 31, 2014:

	Loans delinquent for:												90 days
					90 days		Total		Total		Total		or more		Non-accrual
	30 - 59 Days		60 - 89 Days		or more		Past Due		Current		Loans		and accruing		Loans
	(In thousands)
Residential loans:
One- to four-family	$	—	$	620	$	641	$	1,261	$	82,938	$	84,199	$	—	$	951
Home equity loans and lines of credit		38		13		—		51		16,448		16,499		—		—
Commercial loans:
One- to four-family investment property		—		—		—		—		8,345		8,345		—		—
Multi-family real estate		—		—		—		—		15,020		15,020		—		—
Commercial real estate		295		—		—		295		61,932		62,227		—		—
Commercial business		—		—		—		—		17,838		17,838		—		—
Construction loans:
One- to four-family		—		—		—		—		13,056		13,056		—		—
Multi-family		—		—		—		—		10,842		10,842		—		—
Non-residential		—		—		—		—		4,828		4,828		—		—
Consumer		—		—		2		2		287		289		—		2
Total	$	333	$	633	$	643	$	1,609	$	231,534	$	233,143	$	—	$	953

Schedule of analysis of impaired loans

The following is an analysis of impaired loans at December 31, 2015:

			Unpaid				Average		Interest
	Recorded		Principal		Related		Recorded		Income
	Investment		Balance		Allowance		Investment		Recognized
	(In thousands)
Impaired loans without a valuation allowance
Residential loans:
One- to four-family	$	1,255	$	1,255	$	—	$	236	$	12
Home equity loans and lines of credit		104		104		—		51		2
Commercial loans:
One- to four-family investment property		—		—		—		—		—
Multi-family real estate		—		—		—		—		—
Commercial real estate		287		287		—		292		17
Commercial business		—		—		—		74		9
Construction loans:
One- to four-family		—		—		—		—		—
Multi-family		—		—		—		—		—
Non-residential		—		—		—		—		—
Consumer		—		—		—		—		—
Total impaired with no related allowance	$	1,646	$	1,646	$	—	$	653	$	40
Impaired loans with a valuation allowance
Residential loans:
One- to four-family	$	312	$	312	$	7	$	314	$	16
Home equity loans and lines of credit		—		—		—		—		—
Commercial loans:
One- to four-family investment property		88		88		7		55		4
Multi-family real estate		—		—		—		—		—
Commercial real estate		—		—		—		—		—
Commercial business		—		—		—		—		—
Construction loans:
One- to four-family		—		—		—		—		—
Multi-family		—		—		—		—		—
Non-residential		—		—		—		—		—
Consumer		—		—		—		—		—
Total with an allowance recorded	$	400	$	400	$	14	$	369	$	20

No additional funds are committed to be advanced in connection with impaired loans.

The following is an analysis of impaired loans at December 31, 2014:

			Unpaid				Average		Interest
	Recorded		Principal		Related		Recorded		Income
	Investment		Balance		Allowance		Investment		Recognized
	(In thousands)
Impaired loans without a valuation allowance
Residential loans:
One- to four-family	$	—	$	—	$	—	$	—	$	—
Home equity loans and lines of credit		27		27		—		28		1
Commercial loans:
One- to four-family investment property		—		—		—		—		—
Multi-family real estate		—		—		—		—		—
Commercial real estate		295		295		—		298		18
Commercial business		—		—		—		—		—
Construction loans:
One- to four-family		—		—		—		—		—
Multi-family		—		—		—		—		—
Non-residential		—		—		—		—		—
Consumer		—		—		—		—		—
Total impaired with no related allowance	$	322	$	322	$	—	$	326	$	19
Impaired loans with a valuation allowance
Residential loans:
One- to four-family	$	317	$	317	$	7	$	319	$	16
Home equity loans and lines of credit		—		—		—		123		—
Commercial loans:
One- to four-family investment property		—		—		—		—		—
Multi-family real estate		—		—		—		—		—
Commercial real estate		—		—		—		426		8
Commercial business		—		—		—		—		—
Construction loans:
One- to four-family		—		—		—		—		—
Multi-family		—		—		—		—		—
Non-residential		—		—		—		—		—
Consumer		—		—		—		—		—
Total with an allowance recorded	$	317	$	317	$	7	$	868	$	24

Schedule of loans by risk rating

	Residential				Commercial								Construction
					One‑ to four‑
			Home equity		family
	One‑ to four‑		loans and lines		investment		Multi‑family		Commercial		Commercial		One‑ to four‑				Non-
	family		of credit		property		real estate		real estate		business		family		Multi‑family		residential		Consumer		Total
	(In thousands)
At December 31, 2015
Classification:
Not formally rated	$	84,778	$	18,183	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	237	$	103,198
Pass		—		—		15,167		30,709		66,420		17,454		12,967		1,486		5,925		—		150,128
Special mention		—		—		—		—		732		94		—		—		—		—		826
Substandard		1,694		80		88		—		—		—		—		—		—		—		1,862
Doubtful		—		—		—		—		—		—		—		—		—		—		—
Loss		—		—		—		—		—		—		—		—		—		—		—
Total loans	$	86,472	$	18,263	$	15,255	$	30,709	$	67,152	$	17,548	$	12,967	$	1,486	$	5,925	$	237	$	256,014
At December 31, 2014
Classification:
Not formally rated	$	82,311	$	16,499	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	287	$	99,097
Pass		—		—		8,345		15,020		62,227		17,838		13,056		10,842		4,828		—		132,156
Special mention		—		—		—		—		—		—		—		—		—		—		—
Substandard		1,888		—		—		—		—		—		—		—		—		2		1,890
Doubtful		—		—		—		—		—		—		—		—		—		—		—
Loss		—		—		—		—		—		—		—		—		—		—		—
Total loans	$	84,199	$	16,499	$	8,345	$	15,020	$	62,227	$	17,838	$	13,056	$	10,842	$	4,828	$	289	$	233,143

Schedule of mortgage servicing rights capitalized and amortized

	Years Ended
	December 31,
	2015		2014
	(In thousands)
Mortgage servicing rights:
Balance at beginning of period	$	840	$	1,084
Additions		10		114
Amortization		(327)		(358)
Balance at end of period		523		840
Valuation allowance:
Balance at beginning of period		6		26
Additions		13		4
Reductions		(15)		(24)
Balance at end of period		4		6
Mortgage servicing assets, net	$	519	$	834
Fair value of mortgage servicing assets	$	1,100	$	1,335