LOANS AND SERVICING (Tables)

3 Months Ended

Mar. 31, 2017


	At				At
	March 31,				December 31,
	2017				2016
	Amount		Percent		Amount		Percent
	(Dollars in thousands)
Residential loans:
One- to four-family	$	92,869	32.97	%	$	90,190	32.27	%
Home equity loans and lines of credit		15,468	5.49			15,879	5.68
Total residential mortgage loans		108,337	38.46			106,069	37.95

Commercial loans:
One- to four-family investment property		14,400	5.11			13,081	4.68
Multi-family real estate		30,214	10.73			30,748	11.00
Commercial real estate		83,390	29.60			83,583	29.90
Commercial business		23,851	8.47			20,675	7.40
Total commercial loans		151,855	53.91			148,087	52.98

Construction loans:
One- to four-family		9,368	3.33			12,599	4.51
Multi-family		4,505	1.60			5,725	2.05
Non-residential		7,454	2.65			6,830	2.44
Total construction loans		21,327	7.58			25,154	9.00

Consumer		150	0.05			182	0.07

Total loans		281,669	100.00	%		279,492	100.00	%

Other items:
Net deferred loan costs		540				484
Allowance for loan losses		(2,642)				(2,605)

Total loans, net	$	279,567			$	277,371

Schedule of information pertaining to the allowance for loan losses


	Residential				Commercial								Construction
					One‑ to four‑
			Home equity		family
	One‑ to four‑		loans and		investment		Multi‑family		Commercial		Commercial		One‑ to four‑				Non-
	family		lines of credit		property		real estate		real estate		business		family		Multi‑family		residential		Consumer		Unallocated		Total

	(In thousands)
Allowance for loan losses

Three Months Ended March 31, 2017
Beginning Balance	$	171	$	238	$	79	$	234	$	1,262	$	364	$	104	$	47	$	104	$	2	$	—	$	2,605
Charge-offs		—		—		—		—		—		—		—		—		—		(3)		—		(3)
Recoveries		—		1		—		—		—		—		—		—		—		—		—		1
Provision (benefit)		5		(7)		7		(4)		(3)		55		(22)		(10)		10		2		6		39
Ending Balance	$	176	$	232	$	86	$	230	$	1,259	$	419	$	82	$	37	$	114	$	1	$	6	$	2,642

Three Months Ended March 31, 2016
Beginning Balance	$	197	$	276	$	90	$	233	$	1,021	$	305	$	113	$	12	$	91	$	2	$	68	$	2,408
Charge-offs		—		—		—		—		—		—		—		—		—		—		—		—
Recoveries		—		1		—		—		—		—		—		—		—		—		—		1
(Benefit) provision		(17)		(17)		(7)		(7)		105		33		26		2		6		—		(50)		74
Ending Balance	$	180	$	260	$	83	$	226	$	1,126	$	338	$	139	$	14	$	97	$	2	$	18	$	2,483

At March 31, 2017

Allowance for loan losses
Individually evaluated for impairment	$	—	$	—	$	7	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	7
Collectively evaluated for impairment		176		232		79		230		1,259		419		82		37		114		1		6		2,635
	$	176	$	232	$	86	$	230	$	1,259	$	419	$	82	$	37	$	114	$	1	$	6	$	2,642

Loans
Individually evaluated for impairment	$	1,529	$	296	$	85	$	—	$	278	$	—	$	—	$	—	$	—	$	—	$	—	$	2,188
Collectively evaluated for impairment		91,340		15,172		14,315		30,214		83,112		23,851		9,368		4,505		7,454		150		—		279,481
	$	92,869	$	15,468	$	14,400	$	30,214	$	83,390	$	23,851	$	9,368	$	4,505	$	7,454	$	150	$	—	$	281,669

At December 31, 2016

Allowance for loan losses
Individually evaluated for impairment	$	—	$	—	$	7	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	7
Collectively evaluated for impairment		171		238		72		234		1,262		364		104		47		104		2		—		2,598
	$	171	$	238	$	79	$	234	$	1,262	$	364	$	104	$	47	$	104	$	2	$	—	$	2,605

Loans
Individually evaluated for impairment	$	1,543	$	143	$	85	$	—	$	281	$	—	$	—	$	—	$	—	$	—	$	—	$	2,052
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
	$	90,190	$	15,879	$	13,081	$	30,748	$	83,583	$	20,675	$	12,599	$	5,725	$	6,830	$	182	$	—	$	279,492

Summary of past-due and non-accrual loans


	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)
At March 31, 2017
Residential loans:
One- to four-family	$	—	$	—	$	742	$	742	$	92,127	$	92,869	$	—	$	742
Home equity loans and lines of credit		40		157		—		197		15,271		15,468		—		195

Commercial loans:
One- to four-family investment property		—		—		—		—		14,400		14,400		—		—
Multi-family real estate		—		—		—		—		30,214		30,214		—		—
Commercial real estate		—		—		—		—		83,390		83,390		—		—
Commercial business		—		—		—		—		23,851		23,851		—		—

Construction loans:
One- to four-family		—		—		—		—		9,368		9,368		—		—
Multi-family		—		—		—		—		4,505		4,505		—		—
Non-residential		—		—		—		—		7,454		7,454		—		—

Consumer		—		—		—		—		150		150		—		—
Total	$	40	$	157	$	742	$	939	$	280,730	$	281,669	$	—	$	937


	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)
At December 31, 2016
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

Schedule of analysis of impaired loans


			Unpaid				Average		Interest
	Recorded		Principal		Related		Recorded		Income
	Investment		Balance		Allowance		Investment		Recognized
	(In thousands)
At March 31, 2017
Impaired loans without a valuation allowance

Residential loans:
One- to four-family	$	1,529	$	1,549	$	—	$	1,536	$	14
Home equity loans and lines of credit		296		296		—		220		1
Commercial loans:
One- to four-family investment property		—		—		—		—		—
Multi-family real estate		—		—		—		—		—
Commercial real estate		278		278		—		280		4
Commercial business		—		—		—		—		—
Construction loans:
One- to four-family		—		—		—		—		—
Multi-family		—		—		—		—		—
Non-residential		—		—		—		—		—
Consumer		—		—		—		—		—

Total impaired with no related allowance	$	2,103	$	2,123	$	—	$	2,036	$	19

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		85		1
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	$	85	$	1


			Unpaid				Average		Interest
	Recorded		Principal		Related		Recorded		Income
	Investment		Balance		Allowance		Investment		Recognized
	(In thousands)
At December 31, 2016
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

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 March 31, 2017

Classification:
Not formally rated	$	91,216	$	15,193	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	150	$	106,559
Pass		—		—		14,315		30,214		82,360		23,467		9,368		4,505		7,454		—		171,683
Special mention		—		—		—		—		—		—		—		—		—		—		—
Substandard		1,653		275		85		—		1,030		384		—		—		—		—		3,427
Doubtful		—		—		—		—		—		—		—		—		—		—		—
Loss		—		—		—		—		—		—		—		—		—		—		—
Total loans	$	92,869	$	15,468	$	14,400	$	30,214	$	83,390	$	23,851	$	9,368	$	4,505	$	7,454	$	150	$	281,669

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

Schedule of mortgage servicing rights capitalized and amortized


	Three Months Ended
	March 31,
	2017		2016
	(In thousands)

Mortgage servicing rights:
Balance at beginning of period	$	242	$	523
Additions		—		—
Amortization		(53)		(78)
Balance at end of period		189		445

Valuation allowance:
Balance at beginning of period		6		4
Additions		1		12
Reductions		—		—
Balance at end of period		7		16

Mortgage servicing rights, net	$	182	$	429

Fair value of mortgage servicing rights	$	580	$	799