LOANS AND SERVICING (Tables)

12 Months Ended

Dec. 31, 2016

LOANS AND SERVICING

Summary of loans

	At		At
	December 31,		December 31,
	2016		2015
	Amount		Amount
	(In thousands)
Residential loans:
One- to four-family	$	90,190	$	86,472
Home equity loans and lines of credit		15,879		18,263
Total residential mortgage loans		106,069		104,735
Commercial loans:
One- to four-family investment property		13,081		15,255
Multi-family real estate		30,748		30,709
Commercial real estate		83,583		67,152
Commercial business		20,675		17,548
Total commercial loans		148,087		130,664
Construction loans:
One- to four-family		12,599		12,967
Multi-family		5,725		1,486
Non-residential		6,830		5,925
Total construction loans		25,154		20,378
Consumer		182		237
Total loans		279,492		256,014
Other items:
Net deferred loan costs		484		377
Allowance for loan losses		(2,605)		(2,408)
Total loans, net	$	277,371	$	253,983

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, 2016 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	$	197	$	276	$	90	$	233	$	1,021	$	305	$	113	$	12	$	91	$	2	$	68	$	2,408
Charge-offs		—		—		—		—		—		—		—		—		—		(3)		—		(3)
Recoveries		—		2		—		—		—		—		—		—		—		4		—		6
(Benefit) provision		(26)		(40)		(11)		1		241		59		(9)		35		13		(1)		(68)		194
Ending Balance	$	171	$	238	$	79	$	234	$	1,262	$	364	$	104	$	47	$	104	$	2	$	—	$	2,605
Ending balance:
individually evaluated for impairment	$	—	$	—	$	7	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	7
Ending balance:
collectively evaluated for impairment	$	171	$	238	$	72	$	234	$	1,262	$	364	$	104	$	47	$	104	$	2	$	—	$	2,598
Loans
Ending Balance	$	90,190	$	15,879	$	13,081	$	30,748	$	83,583	$	20,675	$	12,599	$	5,725	$	6,830	$	182	$	—	$	279,492
Ending balance:
individually evaluated for impairment	$	1,543	$	143	$	85	$	—	$	281	$	—	$	—	$	—	$	—	$	—	$	—	$	2,052
Ending balance:
collectively evaluated for impairment	$	88,647	$	15,736	$	12,996	$	30,748	$	83,302	$	20,675	$	12,599	$	5,725	$	6,830	$	182	$	—	$	277,440

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

Summary of past-due and non-accrual loans

The following is a summary of past-due and non-accrual loans at December 31, 2016:

	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	$	—	$	—	$	755	$	755	$	89,435	$	90,190	$	—	$	755
Home equity loans and lines of credit		191		20		41		252		15,627		15,879		—		198
Commercial loans:
One- to four-family investment property		—		—		—		—		13,081		13,081		—		—
Multi-family real estate		—		—		—		—		30,748		30,748		—		—
Commercial real estate		—		—		—		—		83,583		83,583		—		—
Commercial business		—		—		—		—		20,675		20,675		—		—
Construction loans:
One- to four-family		—		—		—		—		12,599		12,599		—		—
Multi-family		—		—		—		—		5,725		5,725		—		—
Non-residential		—		—		—		—		6,830		6,830		—		—
Consumer		7		3		—		10		172		182		—		—
Total	$	198	$	23	$	796	$	1,017	$	278,475	$	279,492	$	—	$	953

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

Schedule of analysis of impaired loans

The following is an analysis of impaired loans at and for the year ending December 31, 2016:

			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	$	1,543	$	1,555	$	—	$	1,560	$	42
Home equity loans and lines of credit		143		143		—		109		5
Commercial loans:
One- to four-family investment property		—		—		—		—		—
Multi-family real estate		—		—		—		—		—
Commercial real estate		281		281		—		284		17
Commercial business		—		—		—		—		—
Construction loans:
One- to four-family		—		—		—		—		—
Multi-family		—		—		—		—		—
Non-residential		—		—		—		—		—
Consumer		—		—		—		—		—
Total impaired with no related allowance	$	1,967	$	1,979	$	—	$	1,953	$	64
Impaired loans with a valuation allowance
Residential loans:
One- to four-family	$	—	$	—	$	—	$	—	$	—
Home equity loans and lines of credit		—		—		—		—		—
Commercial loans:
One- to four-family investment property		85		85		7		87		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	$	85	$	85	$	7	$	87	$	4

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

The following is an analysis of impaired loans at and for the year ending 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

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, 2016
Classification:
Not formally rated	$	88,522	$	15,601	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	182	$	104,305
Pass		—		—		12,996		30,748		82,873		20,526		12,599		5,725		6,830		—		172,297
Special mention		—		—		—		—		—		—		—		—		—		—		—
Substandard		1,668		278		85		—		710		149		—		—		—		—		2,890
Doubtful		—		—		—		—		—		—		—		—		—		—		—
Loss		—		—		—		—		—		—		—		—		—		—		—
Total loans	$	90,190	$	15,879	$	13,081	$	30,748	$	83,583	$	20,675	$	12,599	$	5,725	$	6,830	$	182	$	279,492
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

Schedule of mortgage servicing rights capitalized and amortized

	Year Ended
	December 31,
	2016		2015
	(In thousands)
Mortgage servicing rights:
Balance at beginning of period	$	523	$	840
Additions		—		10
Amortization		(281)		(327)
Balance at end of period		242		523
Valuation allowance:
Balance at beginning of period		4		6
Additions		13		13
Reductions		(11)		(15)
Balance at end of period		6		4
Mortgage servicing rights, net	$	236	$	519
Fair value of mortgage servicing rights	$	601	$	1,100