Loans (Tables)

3 Months Ended

Mar. 31, 2015

Schedule of Composition of Loan Portfolio by Segment and Class

The following table sets forth the composition of our loan portfolio by segment and class, at the dates indicated.


	March 31, 2015						December 31, 2014
	Amount			Percent			Amount			Percent
	(Dollars in thousands)
First mortgage loans:
Secured by one- to four- family	$	30,799			52.06	%	$	31,430			50.98	%
Secured by multi-family		9,717			16.42			9,834			15.95
Secured by commercial real estate		9,580			16.19			10,324			16.75
Secured by construction		416			0.70			260			0.42
Secured by land		208			0.35			213			0.35

Total first mortgage loans		50,720			85.72			52,061			84.45
Commercial, consumer and other loans:
Home equity lines-of-credit		6,511			11.00			7,360			11.94
Commercial business loans		696			1.18			826			1.34
Automobile loans		1,241			2.10			1,401			2.27
Other consumer loans		1			0.00			2			0.00

Total commercial, consumer and other loans		8,449			14.28			9,589			15.55

Gross loans		59,169			100.00			61,650			100.00
Premiums and net deferred loan costs		(39	)					(39	)
Allowance for loan losses		(1,179	)					(1,206	)

Total loans, net	$	57,951					$	60,405

Schedule of Allowance for Loan Losses by Portfolio Segment and Class

The following table presents the activity in the allowance for loan losses by portfolio segment and class for the three months ended March 31, 2015 and 2014.


	First Mortgages															Commercial, Consumer and Other
	(Dollars in thousands)
	One-to-four family			Multi- family			Commercial real estate			Land			Construction			Home equity lines-of- credit			Commercial			Automobile			Other Consumer			Total
For the three months ended March 31, 2015
Allowance for loan losses
Beginning balance	$	392		$	354		$	277		$	6		$	7		$	96		$	8		$	66		$	—		$	1,206
Provision for loan losses		(22	)		14			11			—			6			(4	)		(1	)		(3	)		(1	)		—
Loans charged-off		—			(28	)		—			—			—			—			—			(1	)		—			(29	)
Recoveries		—			—			—			—			1			—			—			—			1			2

Total ending allowance balance March 31, 2015	$	370		$	340		$	288		$	6		$	14		$	92		$	7		$	62		$	—		$	1,179

For the three months ended March 31, 2014
Allowance for loan losses
Beginning balance	$	589		$	252		$	300		$	7		$	—		$	78		$	20		$	56		$	—		$	1,302
Provision for loan losses		82			(6	)		(229	)		6			(2	)		77			1			71			—			—
Loans charged-off		—			—			—			(6	)		—			(18	)		—			(16	)		—			(40	)
Recoveries		—			—			186			—			2			—			—			—			—			188

Total ending allowance balance March 31, 2014	$	671		$	246		$	257		$	7		$	—		$	137		$	21		$	111		$	—		$	1,450

Summary of Allowance for Loan Losses and Recorded Investment in Loans by Portfolio Segment

The following table represents the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment and class based on the impaired method at the dates indicated. The recorded investment in loans excludes accrued interest and loan origination fees due to immateriality.


	Loan Balance						Allowance
	(Dollars in thousands)
	Individually Evaluated for Impairment		Collectively Evaluated for Impairment		Total Recorded Investment		Individually Evaluated for Impairment		Collectively Evaluated for Impairment		Total Recorded Investment
March 31, 2015
One-to-four-family	$	1,363	$	29,436	$	30,799	$	45	$	325	$	370
Multi-family		2,937		6,780		9,717		208		132		340
Commercial real estate		—		9,580		9,580		—		288		288
Land		—		208		208		—		6		6
Construction		—		416		416		—		14		14
Home equity lines of credit		—		6,511		6,511		—		92		92
Commercial		77		619		696		—		7		7
Automobile		—		1,241		1,241		—		62		62
Other consumer		—		1		1		—		—		—

Total	$	4,377	$	54,792	$	59,169	$	253	$	926	$	1,179

December 31, 2014
One-to-four-family	$	1,403	$	30,027	$	31,430	$	78	$	314	$	392
Multi-family		2,985		6,849		9,834		247		107		354
Commercial real estate		—		10,324		10,324		—		277		277
Land		—		213		213		—		6		6
Construction		—		260		260		—		7		7
Home equity lines of credit		—		7,360		7,360		—		96		96
Commercial		95		731		826		—		8		8
Automobile		—		1,401		1,401		—		66		66
Other consumer		—		2		2		—		—		—

Total	$	4,483	$	57,167	$	61,650	$	325	$	881	$	1,206

Summary of Loans Individually Evaluated for Impairment by Class

The following tables present information related to loans individually evaluated for impairment by class of loans as of and for the three months ended March 31, 2015 and 2014 and as of and for the year ended December 31, 2014


	Unpaid				Allowance for		Average		Interest		Cash Basis
	Principal		Recorded		Loan Losses		Recorded		Income		Interest
	Balance		Investment		Allocated		Investment		Recorded		Recorded
March 31, 2015
With no related allowance recorded
One-to-four-family	$	1,186	$	811	$	—	$	854	$	—	$	—
Multi-family		802		627		—		630		6		6
Commercial real estate		—		—		—		—		—		—
Land		—		—		—		—		—		—
Construction		—		—		—		—		—		—
Home equity line of credit		—		—		—		—		—		—
Commercial		280		77		—		83		—		—
Automobile		—		—		—		—		—		—
Other consumer		—		—		—		—		—		—

Total with no related allowance recorded		2,268		1,515		—		1,567		6		6
With an allowance recorded
One-to-four-family		552		552		45		554		7		7
Multi-family		2,338		2,310		208		2,342		26		26
Commercial real estate		—		—		—		—		—		—
Land		—		—		—		—		—		—
Construction		—		—		—		—		—		—
Home equity line of credit		—		—		—		—		—		—
Commercial		—		—		—		—		—		—
Automobile		—		—		—		—		—		—
Other consumer		—		—		—		—		—		—

Total with a related allowance recorded		2,890		2,862		253		2,896		33		33

Total	$	5,158	$	4,377	$	253	$	4,463	$	39	$	39


	Unpaid				Allowance for		Average		Interest		Cash Basis
	Principal		Recorded		Loan Losses		Recorded		Income		Interest
	Balance		Investment		Allocated		Investment		Recorded		Recorded
March 31, 2014
With no related allowance recorded
One-to-four-family	$	889	$	514	$	—	$	514	$	—	$	—
Multi-family		2,870		2,518		—		918		6		6
Commercial real estate		236		198		—		200		—		—
Land		131		102		—		102		—		—
Construction		—		—		—		—		—		—
Home equity line of credit		—		—		—		—		—		—
Commercial		417		214		—		231		—		—
Automobile		—		—		—		—		—		—
Other consumer		—		—		—		—		—		—

Total with no related allowance recorded		4,543		3,546		—		1,965		6		6
With an allowance recorded
One-to-four-family		566		566		147		568		7		7
Multi-family		772		772		73		2,386		26		26
Commercial real estate		—		—		—		284		—		—
Land		—		—		—		—		—		—
Construction		—		—		—		—		—		—
Home equity line of credit		—		—		—		—		—		—
Commercial		—		—		—		—		—		—
Automobile		—		—		—		—		—		—
Other consumer		—		—		—		—		—		—

Total with a related allowance recorded		1,338		1,338		220		3,238		33		33

Total	$	5,881	$	4,884	$	220	$	5,203	$	39	$	39


	Unpaid				Allowance for		Average		Interest		Cash Basis
	Principal		Recorded		Loan Losses		Recorded		Income		Interest
	Balance		Investment		Allocated		Investment		Recorded		Recorded
December 31, 2014
With no related allowance recorded
One-to-four-family	$	1,011	$	543	$	—	$	541	$	—	$	—
Multi-family		811		636		—		889		14		14
Commercial real estate		—		—		—		99		—		—
Land		—		—		—		68		—		—
Construction		—		—		—		—		—		—
Home equity line of credit		—		—		—		—		—		—
Commercial		339		95		—		178		—		—
Automobile		—		—		—		—		—		—
Other consumer		—		—		—		—				—

Total with no related allowance recorded		2,161		1,274		—		1,775		14		14
With an allowance recorded
One-to-four-family		860		860		78		588		27		27
Multi-family		2,349		2,349		247		2,369		103		103
Commercial real estate		—		—		—		71		—		—
Land		—		—		—		—		—		—
Construction		—		—		—		—		—		—
Home equity line of credit		—		—		—		—		—		—
Commercial		—		—		—		—		—		—
Automobile		—		—		—		—		—		—
Other consumer		—		—		—		—		—		—

Total with a related allowance recorded		3,209		3,209		325		3,028		130		130

Total	$	5,370	$	4,483	$	325	$	4,803	$	144	$	144

Summary of Aging of Recorded Investment in Past Due Loans

The following table presents the aging of the recorded investment in past due loans at the dates indicated by class of loans.


	30-59		60-89		Greater than
	Days		Days		90 Days Past Due				Loans Not
	Past due		Past due		Still on Accrual		Nonaccrual		Past Due		Total
	(Dollars in thousands)
March 31, 2015
One-to-four-family	$	—	$	178	$	—	$	811	$	29,810	$	30,799
Multi-family		—		—		—		344		9,373		9,717
Commercial real estate		—		—		—		—		9,580		9,580
Land		—		—		—		—		208		208
Construction		—		—		—		—		416		416
Home equity line of credit		—		61		—		—		6,450		6,511
Commercial		—		—		—		77		619		696
Automobile		—		—		—		—		1,241		1,241
Other consumer		—		—		—		—		1		1

Total	$	—	$	239	$	—	$	1,232	$	57,698	$	59,169

December 31, 2014
One-to-four-family	$	—	$	—	$	—	$	847	$	30,583	$	31,430
Multi-family		—		—		—		353		9,481		9,834
Commercial real estate		—		—		—		—		10,324		10,324
Land		—		—		—		—		213		213
Construction		—		—		—		—		260		260
Home equity line of credit		—		—		—		—		7,360		7,360
Commercial		—		—		—		95		731		826
Automobile		—		—		—		—		1,401		1,401
Other consumer		—		—		—		—		2		2

Total	$	—	$	—	$	—	$	1,295	$	60,355	$	61,650

Summary of Loans Classified by Risk Category

Loans not meeting the criteria above that are analyzed individually as part of the above described process are considered to be pass rated loans. The following table reflects the risk category by loans at the dates indicated based on the most recent analysis performed.


	Pass		Substandard		Doubtful		Total
	(Dollars in thousands)
March 31, 2015
One-to-four-family	$	29,988	$	811	$	—	$	30,799
Multi-family		9,373		344		—		9,717
Commercial real estate		9,580		—		—		9,580
Land		208		—		—		208
Construction		416		—		—		416
Home equity lines of credit		6,511		—		—		6,511
Commercial		619		77		—		696
Automobile		1,241		—		—		1,241
Other consumer		1		—		—		1

Total	$	57,937	$	1,232	$	—	$	59,169

December 31, 2014
One-to-four-family	$	30,583	$	847	$	—	$	31,430
Multi-family		9,481		353		—		9,834
Commercial real estate		10,324		—		—		10,324
Land		213		—		—		213
Construction		260		—		—		260
Home equity lines of credit		7,360		—		—		7,360
Commercial		731		95		—		826
Automobile		1,401		—		—		1,401
Other consumer		2		—		—		2

Total	$	60,355	$	1,295	$	—	$	61,650