Loans Receivable - (Tables)

3 Months Ended

Mar. 31, 2020

Loans and Leases Receivable Disclosure [Abstract]

Loans receivable consisted of the following at the dates indicated:



	March 31, 2020			December 31, 2019
	(In thousands)
Real Estate:
One-to-four family	$	302,688		$	306,014
Multi-family	88,794			96,098
Commercial real estate	260,321			255,722
Construction and land	48,565			37,187
Total real estate loans	700,368			695,021

Consumer:
Home equity	35,260			35,046
Auto and other consumer	114,194			112,119
Total consumer loans	149,454			147,165

Commercial business loans	55,853			41,571

Total loans	905,675			883,757

Less:
Net deferred loan fees	433			206
Premium on purchased loans, net	(4,742		)	(4,514		)
Allowance for loan losses	10,830			9,628

Total loans receivable, net	$	899,154		$	878,437

Schedule of Activity in Allowance for Loan Losses

The following tables summarize changes in the ALLL and loan portfolio by segment and impairment method for the periods shown:



	At or For the Three Months Ended March 31, 2020
	One-to- four family		Multi-family		Commercial real estate		Construction and land		Home equity			Auto and other consumer			Commercial business		Unallocated		Total
	(In thousands)
ALLL:
Beginning balance	$	3,024	$	888	$	2,243	$	399	$	454		$	2,261		$	208	$	151	$	9,628
Provision for loan losses	319		35		479		191		(6		)	176			42		30		1,266
Charge-offs	—		—		—		—		—			(134		)	—		—		(134		)
Recoveries	53		—		—		2		1			14			—		—		70
Ending balance	$	3,396	$	923	$	2,722	$	592	$	449		$	2,317		$	250	$	181	$	10,830



	At March 31, 2020
	One-to- four family		Multi-family		Commercial real estate		Construction and land		Home equity		Auto and other consumer		Commercial business		Unallocated		Total
	(In thousands)
Total ALLL	$	3,396	$	923	$	2,722	$	592	$	449	$	2,317	$	250	$	181	$	10,830
General reserve	3,363		922		2,713		591		443		2,263		245		181		10,721
Specific reserve	33		1		9		1		6		54		5		—		109

Total loans	$	302,688	$	88,794	$	260,321	$	48,565	$	35,260	$	114,194	$	55,853	$	—	$	905,675
Loans collectively evaluated ⁽¹⁾	299,947		88,391		258,451		48,537		34,971		113,485		55,590		—		899,372
Loans individually evaluated ⁽²⁾	2,741		403		1,870		28		289		709		263		—		6,303


⁽¹⁾ Loans collectively evaluated for general reserves.
⁽²⁾ Loans individually evaluated for specific reserves.



	At or For the Three Months Ended March 31, 2019
	One-to- four family		Multi-family		Commercial real estate		Construction and land		Home equity			Auto and other consumer			Commercial business			Unallocated		Total
ALLL:	(In thousands)
Beginning balance	$	3,297	$	762	$	2,289	$	585	$	480		$	1,611		$	334		$	175	$	9,533
Provision for loan losses	142		7		48		115		(14		)	177			(141		)	1		335
Charge-offs	—		—		—		—		—			(186		)	(4		)	—		(190		)
Recoveries	2		—		—		—		1			76			2			—		81
Ending balance	$	3,441	$	769	$	2,337	$	700	$	467		$	1,678		$	191		$	176	$	9,759



	At December 31, 2019
	One-to- four family		Multi-family		Commercial real estate		Construction and land		Home equity		Auto and other consumer		Commercial business		Unallocated		Total
	(In thousands)
Total ALLL	$	3,024	$	888	$	2,243	$	399	$	454	$	2,261	$	208	$	151	$	9,628
General reserve	2,993		887		2,235		399		439		2,119		203		151		9,426
Specific reserve	31		1		8		—		15		142		5		—		202

Total loans	$	306,014	$	96,098	$	255,722	$	37,187	$	35,046	$	112,119	$	41,571	$	—	$	883,757
Loans collectively evaluated ⁽¹⁾	303,026		95,991		253,839		37,158		34,775		111,271		41,308		—		877,368
Loans individually evaluated ⁽²⁾	2,988		107		1,883		29		271		848		263		—		6,389


⁽¹⁾ Loans collectively evaluated for general reserves.
⁽²⁾ Loans individually evaluated for specific reserves.

Schedules of Impaired Loans

The following table presents a summary of loans individually evaluated for impairment by portfolio segment at the dates indicated:



	March 31, 2020						December 31, 2019
	Recorded Investment		Unpaid Principal Balance		Related Allowance		Recorded Investment		Unpaid Principal Balance		Related Allowance
	(In thousands)
With no allowance recorded:
One-to-four family	$	72	$	99	$	—	$	297	$	332	$	—
Multi-family	296		296		—		—		—		—
Commercial real estate	1,227		1,310		—		1,240		1,320		—
Construction and land	—		32		—		—		33		—
Home equity	42		114		—		45		110		—
Auto and other consumer	—		271		—		251		548		—
Commercial business	—		—		—		—		—		—
Total	1,637		2,122		—		1,833		2,343		—

With an allowance recorded:
One-to-four family	2,669		2,884		33		2,691		2,911		31
Multi-family	107		107		1		107		107		1
Commercial real estate	643		643		9		643		643		8
Construction and land	28		28		1		29		29		—
Home equity	247		307		6		226		286		15
Auto and other consumer	709		818		54		597		690		142
Commercial business	263		263		5		263		263		5
Total	4,666		5,050		109		4,556		4,929		202

Total impaired loans:
One-to-four family	2,741		2,983		33		2,988		3,243		31
Multi-family	403		403		1		107		107		1
Commercial real estate	1,870		1,953		9		1,883		1,963		8
Construction and land	28		60		1		29		62		—
Home equity	289		421		6		271		396		15
Auto and other consumer	709		1,089		54		848		1,238		142
Commercial business	263		263		5		263		263		5
Total	$	6,303	$	7,172	$	109	$	6,389	$	7,272	$	202

The following table presents a summary of loans individually evaluated for impairment by portfolio segment at the dates indicated:



	Three Months Ended
	March 31, 2020
	Average Recorded Investment		Interest Income Recognized
	(In thousands)
With no allowance recorded:
One-to-four family	$	108	$	1
Multi-family	99		—
Commercial real estate	1,231		15
Home equity	42		3
Auto and other consumer	—		10
Commercial business	—		—
Total	1,480		29

With an allowance recorded:
One-to-four family	2,676		64
Multi-family	305		—
Commercial real estate	643		—
Construction and land	28		2
Home equity	248		6
Auto and other consumer	689		17
Commercial business	263		—
Total	4,852		89

Total impaired loans:
One-to-four family	2,784		65
Multi-family	404		—
Commercial real estate	1,874		15
Construction and land	28		2
Home equity	290		9
Auto and other consumer	689		27
Commercial business	263		—
Total	$	6,332	$	118

Interest income recognized on a cash basis on impaired loans for the three months ended March 31, 2020, was $76,000.

The following table presents the average recorded investment in loans individually evaluated for impairment and the related interest income recognized for the periods shown:



	Three Months Ended
	March 31, 2019
	Average Recorded Investment		Interest Income Recognized
	(In thousands)
With no allowance recorded:
One-to-four family	$	304	$	5
Commercial real estate	1,296		12
Construction and land	—		—
Home equity	324		10
Auto and other consumer	—		7
Total	1,924		34

With an allowance recorded:
One-to-four family	2,831		68
Multi-family	110		1
Commercial real estate	663		7
Construction and land	53		2
Home equity	300		7
Auto and other consumer	263		7
Commercial business	328		5
Total	4,548		97

Total impaired loans:
One-to-four family	3,135		73
Multi-family	110		1
Commercial real estate	1,959		19
Construction and land	53		2
Home equity	624		17
Auto and other consumer	263		14
Commercial business	328		5
Total	$	6,472	$	131

Schedule of Recorded Investments in Nonaccrual Loans

The following table presents the recorded investment in nonaccrual loans by class of loan at the dates indicated:



	March 31, 2020		December 31, 2019
	(In thousands)
One-to-four family	$	467	$	698
Multi-family	297		—
Commercial real estate	106		109
Construction and land	28		29
Home equity	133		112
Auto and other consumer	709		848
Commercial business	—		—

Total nonaccrual loans	$	1,740	$	1,796

Schedule of Past Due Loans by Class

The following table presents past due loans, net of partial loan charge-offs, by class, as of March 31, 2020:



	30-59 Days Past Due		60-89 Days Past Due		90 Days or More Past Due		Total Past Due		Current		Total Loans
	(In thousands)
Real Estate:
One-to-four family	$	1,791	$	—	$	—	$	1,791	$	300,897	$	302,688
Multi-family	—		107		297		404		88,390		88,794
Commercial real estate	—		643		—		643		259,678		260,321
Construction and land	689		—		—		689		47,876		48,565
Total real estate loans	2,480		750		297		3,527		696,841		700,368

Consumer:
Home equity	13		12		24		49		35,211		35,260
Auto and other consumer	2,157		324		380		2,861		111,333		114,194
Total consumer loans	2,170		336		404		2,910		146,544		149,454

Commercial business loans	417		263		—		680		55,173		55,853

Total loans	$	5,067	$	1,349	$	701	$	7,117	$	898,558	$	905,675

The following table presents past due loans, net of partial loan charge-offs, by class, as of December 31, 2019:



	30-59 Days Past Due		60-89 Days Past Due		90 Days or More Past Due		Total Past Due		Current		Total Loans
	(In thousands)
Real Estate:
One-to-four family	$	928	$	92	$	116	$	1,136	$	304,878	$	306,014
Multi-family	—		—		—		—		96,098		96,098
Commercial real estate	—		—		—		—		255,722		255,722
Construction and land	38		—		—		38		37,149		37,187
Total real estate loans	966		92		116		1,174		693,847		695,021

Consumer:
Home equity	299		24		—		323		34,723		35,046
Auto and other consumer	1,423		370		614		2,407		109,712		112,119
Total consumer loans	1,722		394		614		2,730		144,435		147,165

Commercial business loans	—		115		—		115		41,456		41,571

Total loans	$	2,688	$	601	$	730	$	4,019	$	879,738	$	883,757

Schedule of Loans by Risk Category

The following table represents the internally assigned grade as of March 31, 2020, by class of loans:



	Pass		Watch		Special Mention		Substandard		Total
	(In thousands)
Real Estate:
One-to-four family	$	297,391	$	3,455	$	1,206	$	636	$	302,688
Multi-family	88,390		—		107		297		88,794
Commercial real estate	256,166		94		2,782		1,279		260,321
Construction and land	37,987		10,353		186		39		48,565
Total real estate loans	679,934		13,902		4,281		2,251		700,368

Consumer:
Home equity	34,196		712		127		225		35,260
Auto and other consumer	108,858		3,806		759		771		114,194
Total consumer loans	143,054		4,518		886		996		149,454

Commercial business loans	53,894		60		570		1,329		55,853

Total loans	$	876,882	$	18,480	$	5,737	$	4,576	$	905,675

The following table represents the internally assigned grade as of December 31, 2019, by class of loans:



	Pass		Watch		Special Mention		Substandard		Total
	(In thousands)
Real Estate:
One-to-four family	$	301,312	$	2,685	$	1,148	$	869	$	306,014
Multi-family	95,694		—		107		297		96,098
Commercial real estate	251,531		97		2,800		1,294		255,722
Construction and land	35,897		1,184		77		29		37,187
Total real estate loans	684,434		3,966		4,132		2,489		695,021

Consumer:
Home equity	34,260		470		89		227		35,046
Auto and other consumer	107,327		3,243		594		955		112,119
Total consumer loans	141,587		3,713		683		1,182		147,165

Commercial business loans	39,653		376		263		1,279		41,571

Total loans	$	865,674	$	8,055	$	5,078	$	4,950	$	883,757

The following table represents the credit risk profile based on payment activity as of March 31, 2020, by class of loans:



	Nonperforming		Performing		Total
	(In thousands)
Real Estate:
One-to-four family	$	467	$	302,221	$	302,688
Multi-family	297		88,497		88,794
Commercial real estate	106		260,215		260,321
Construction and land	28		48,537		48,565

Consumer:
Home equity	133		35,127		35,260
Auto and other consumer	709		113,485		114,194

Commercial business	—		55,853		55,853

Total loans	$	1,740	$	903,935	$	905,675

The following table represents the credit risk profile based on payment activity as of December 31, 2019, by class of loans:



	Nonperforming		Performing		Total
	(In thousands)
Real Estate:
One-to-four family	$	698	$	305,316	$	306,014
Multi-family	—		96,098		96,098
Commercial real estate	109		255,613		255,722
Construction and land	29		37,158		37,187

Consumer:
Home equity	112		34,934		35,046
Auto and other consumer	848		111,271		112,119

Commercial business	—		41,571		41,571

Total loans	$	1,796	$	881,961	$	883,757

Schedule of Troubled Debt Restructured Loans

The following table presents TDR loans by class at the dates indicated by accrual and nonaccrual status.



	March 31, 2020						December 31, 2019
	Accrual		Nonaccrual		Total		Accrual		Nonaccrual		Total
	(In thousands)
One-to-four family	$	2,273	$	81	$	2,354	$	2,290	$	81	$	2,371
Multi-family	107		—		107		107		—		107
Commercial real estate	642		—		642		643		—		643
Home equity	157		—		157		160		—		160
Commercial business	263		—		263		263		—		263

Total TDR loans	$	3,442	$	81	$	3,523	$	3,463	$	81	$	3,544

The following table is a summary of information pertaining to TDR loans included in impaired loans at the dates indicated:



	March 31, 2020		December 31, 2019
	(In thousands)
Total TDR loans	$	3,523	$	3,544
Allowance for loan losses related to TDR loans	44		41
Total nonaccrual TDR loans	81		81