Loans Receivable and Allowance for Loan Losses (Tables)

3 Months Ended

Mar. 31, 2020

Loans Receivable and Allowance for Loan Losses

Schedule of loans receivable

(in thousands)	March 31, 2020		December 31, 2019
Real Estate:
Secured by one-to four family residential properties
Owner-occupied	$	55,043	$	53,158
Non-owner-occupied		15,101		15,257
Home Equity Lines of Credit		4,491		3,858
Commercial (Nonresidential) Properties		21,976		22,349
Land		2,390		2,200
Construction		4,848		4,259
Multi-family		2,069		2,086
Commercial		3,145		2,335
Consumer Loans		355		246
Total Loans		109,418		105,748
Less:  Net Deferred Loan Fees		(336)		(349)
Loans in Process		(2,562)		(2,161)
Allowance for Loan Losses		(778)		(769)
Net Loans	$	105,742	$	102,469

Schedule of allowance for credit losses on financing receivables

Allowance for Credit Losses and Recorded Investment in Loans Receivable

For the Period Ended March 31, 2020

(in thousands)

	Real Estate
					One-to-Four
	Commercial		Land		Family		Construction		Multi-Family		Consumer		Commercial		Total
Allowance for Credit Losses:
Beginning Balance	$	96	$	18	$	516	$	20	$	6	$	26	$	87	$	769
Charge-offs		—		—		—		—		—		(1)		—		(1)
Recoveries		—		—		—		—		—		—		—		—
Provision		—		1		(13)		3		1		6		12		10
Ending Balance	$	96	$	19	$	502	$	23	$	7	$	31	$	99	$	778
Ending Balance:
Individually Evaluated for Impairment	$	—	$	1	$	112	$	—	$	—	$	—	$	—	$	113
Ending Balance:
Collectively Evaluated for Impairment	$	96	$	18	$	390	$	23	$	7	$	31	$	99	$	665
Loans Receivable:
Ending Balance	$	21,976	$	2,390	$	74,635	$	4,848	$	2,069	$	355	$	3,145	$	109,418
Ending Balance:
Individually Evaluated for Impairment	$	—	$	12	$	1,102	$	—	$	—	$	—	$	—	$	1,114
Ending Balance:
Collectively Evaluated for Impairment	$	21,976	$	2,378	$	73,533	$	4,848	$	2,069	$	355	$	3,145	$	108,304

Allowance for Credit Losses and Recorded Investment in Loans Receivable

For the Year Ended December 31, 2019

(in thousands)

	Real Estate
					One-to-Four
	Commercial		Land		Family		Construction		Multi-Family		Consumer		Commercial		Total
Allowance for Credit Losses:
Beginning Balance	$	113	$	23	$	519	$	16	$	5	$	9	$	83	$	768
Charge-offs		—		—		—		—		—		(18)		—		(18)
Recoveries		5		—		—		—		—		1		—		6
Provision		(22)		(5)		(3)		4		1		34		4		13
Ending Balance	$	96	$	18	$	516	$	20	$	6	$	26	$	87	$	769
Ending Balance:
Individually Evaluated for Impairment	$	—	$	—	$	85	$	—	$	—	$	—	$	—	$	85
Ending Balance:
Collectively Evaluated for Impairment	$	96	$	18	$	431	$	20	$	6	$	26	$	87	$	684
Loans Receivable:
Ending Balance	$	22,349	$	2,200	$	72,273	$	4,259	$	2,086	$	246	$	2,335	$	105,748
Ending Balance:
Individually Evaluated for Impairment	$	—	$	—	$	828	$	—	$	—	$	—	$	—	$	828
Ending Balance:
Collectively Evaluated for Impairment	$	22,349	$	2,200	$	71,445	$	4,259	$	2,086	$	246	$	2,335	$	104,920

Schedule of credit risk profile by internally assigned grade

Credit Risk Profile by Internally Assigned Grade

(in thousands)

	March 31, 2020
	Real Estate
	Commercial				One-to-Four
	Real Estate		Land		Family		Construction		Multi-Family		Consumer		Commercial		Total
Pass	$	21,976	$	2,378	$	73,533	$	4,848	$	2,069	$	355	$	3,145	$	108,304
Special Mention		—		—		—		—		—		—		—		—
Substandard		—		12		1,102		—		—		—		—		1,114
Doubtful		—		—		—		—		—		—		—		—
Loss		—		—		—		—		—		—		—		—
	$	21,976	$	2,390	$	74,635	$	4,848	$	2,069	$	355	$	3,145	$	109,418

	December 31, 2019
	Real Estate
	Commercial				One-to-Four
	Real Estate		Land		Family		Construction		Multi-Family		Consumer		Commercial		Total
Pass	$	22,349	$	2,200	$	71,203	$	4,259	$	2,086	$	246	$	2,335	$	104,678
Special Mention		—		—		—		—		—		—		—		—
Substandard		—		—		1,070		—		—		—		—		1,070
Doubtful		—		—		—		—		—		—		—		—
Loss		—		—		—		—		—		—		—		—
	$	22,349	$	2,200	$	72,273	$	4,259	$	2,086	$	246	$	2,335	$	105,748

Schedule of aged analysis of past due loans receivables

	March 31, 2020
	Accruing
	30-89		90 Days								Total
	Days		and Over		Total				Nonaccrual		Loans
	Past Due		Past Due		Past Due		Current		Status		Receivable
Real Estate:
Residential	$	806	$	—	$	806	$	72,917	$	912	$	74,635
Commercial		—		—		—		21,976		—		21,976
Land		78		—		78		2,300		12		2,390
Construction		—		—		—		4,848		—		4,848
Multi-family		—		—		—		2,069		—		2,069
Consumer		—		—		—		355		—		355
Commercial		—		—		—		3,145		—		3,145
	$	884	$	—	$	884	$	107,610	$	924	$	109,418

Aged Analysis of Past Due Loans Receivable

(in thousands)

	December 31, 2019
	Accruing
	30-89		90 Days								Total
	Days		and Over		Total				Nonaccrual		Loans
	Past Due		Past Due		Past Due		Current		Status		Receivable
Real Estate:
Residential	$	2,366	$	—	$	2,366	$	69,079	$	828	$	72,273
Commercial		—		—		—		22,349		—		22,349
Land		34		—		34		2,166		—		2,200
Construction		—		—		—		4,259		—		4,259
Multi-family		—		—		—		2,086		—		2,086
Consumer		—		—		—		246		—		246
Commercial		—		—		—		2,335		—		2,335
	$	2,400	$	—	$	2,400	$	102,520	$	828	$	105,748

Schedule of impaired loans

Impaired Loans

(in thousands)

	As Of And For The Three Months Ended March 31, 2020
					Allowance
			Unpaid		for Loan		Average		Interest
	Recorded		Principal		Losses		Recorded		Income
	Investment		Balance		Allocated		Investment		Recognized
Loans with an allowance recorded:
Real estate
Commercial	$	—	$	—	$	—	$	—	$	—
Land		—		—		—		—		—
1-4 family residential		924		924		113		620		—
Multi-Family		—		—		—		—		—
Construction		—		—		—		—		—
Consumer and Commercial		—		—		—		—		—
Loans with no allowance recorded:
Real estate
Commercial		—		—		—		—		—
Land		—		—		—		—		—
1-4 family residential		—		—		—		—		—
Multi-Family		—		—		—		—		—
Construction		—		—		—		—		—
Consumer and Commercial		—		—		—		—		—
Totals	$	924	$	924	$	113	$	620	$	—

Impaired Loans

(in thousands)

	As Of And For The Year Ended December 31, 2019
					Allowance
			Unpaid		for Loan		Average		Interest
	Recorded		Principal		Losses		Recorded		Income
	Investment		Balance		Allocated		Investment		Recognized
Loans with an allowance recorded:
Real estate
Commercial	$	—	$	—	$	—	$	—	$	—
Land		—		—		—		—		—
1-4 family residential		828		828		85		769		—
Multi-Family		—		—		—		—		—
Construction		—		—		—		—		—
Consumer and Commercial		—		—		—		—		—
Loans with no allowance recorded:
Real estate
Commercial		—		—		—		—		—
Land		—		—		—		—		—
1-4 family residential		—		—		—		—		—
Multi-Family		—		—		—		—		—
Construction		—		—		—		—		—
Consumer and Commercial		—		—		—		—		—
Totals	$	828	$	828	$	85	$	769	$	—

Schedule of troubled debt restructuring

Troubled Debt Restructuring

(in thousands)

			Pre-		Post-
			Modification		Modification
			Outstanding		Outstanding
	Number of		Recorded		Recorded
	Loans		Investment		Investment
Modifications as of March 31, 2020:
Residential - modified amortization		—	$	—	$	—
Modifications as of December 31, 2019:
Residential - modified amortization		2	$	668	$	668