Loans Receivable and the Allowance for Loan Losses (Tables)

3 Months Ended

Mar. 31, 2020

Financing Receivable, Recorded Investment [Line Items]

Summary of loans receivable

	March 31,		December 31,
(in thousands)	2020		2019
Mortgage Loans
1-4 Family	$	69,532	$	73,591
Multifamily		3,215		3,567
Commercial real estate		1,095		1,117
Consumer Loans		206		209
		74,048		78,484
Plus (Less):
Unamortized Loan Fees/Costs		1,064		1,151
Allowance for Loan Losses		(850)		(850)
Net Loans Receivable	$	74,262	$	78,785

Summary of allowance for loan losses and recorded investment in loans receivable

Allowance for Loan Losses and Recorded Investment in Loans Receivable
March 31, 2020 (in thousands)

					Mortgage-
	Mortgage-		Mortgage-		Commercial
	1-4 Family		Multifamily		Real Estate		Consumer		Total
Allowance for Loan Losses:
Beginning Balance	$	812	$	27	$	11	$	—	$	850
Charge-Offs		—		—		—		—		—
Recoveries		—		—		—		—		—
Provision		(15)		11		4		—		—
Ending Balance	$	797	$	38	$	15	$	—	$	850
Ending Balance:
Individually Evaluated for Impairment	$	—	$	—	$	—	$	—	$	—
Collectively Evaluated for Impairment	$	797	$	38	$	15	$	—	$	850
Loans Receivable:
Ending Balance	$	69,532	$	3,215	$	1,095	$	206	$	74,048
Ending Balance:
Individually Evaluated for Impairment	$	—	$	—	$	—	$	—	$	—
Collectively Evaluated for Impairment	$	69,532	$	3,215	$	1,095	$	206	$	74,048

The allowance for loan losses for Mortgage 1‑4 Family Loans of $797,000 includes an unallocated portion of $378,000 as of March 31, 2020.

Allowance for Loan Losses and Recorded Investment in Loans Receivable
December 31, 2019 (in thousands)

					Mortgage-
	Mortgage-		Mortgage-		Commercial
	1-4 Family		Multifamily		Real Estate		Consumer		Total
Allowance for Loan Losses:
Beginning Balance	$	807	$	31	$	12	$	—	$	850
Charge-Offs		—		—		—		—		—
Recoveries		9		—		—		—		9
Provision		(4)		(4)		(1)		—		(9)
Ending Balance	$	812	$	27	$	11	$	—	$	850
Ending Balance:
Individually Evaluated for Impairment	$	—	$	—	$	—	$	—	$	—
Collectively Evaluated for Impairment	$	812	$	27	$	11	$	—	$	850
Loans Receivable:
Ending Balance	$	73,591	$	3,567	$	1,117	$	209	$	78,484
Ending Balance:
Individually Evaluated for Impairment	$	—	$	—	$	—	$	—	$	—
Collectively Evaluated for Impairment	$	73,591	$	3,567	$	1,117	$	209	$	78,484

Summary of credit quality indicators

Credit Quality Indicators - Credit Risk Profile Based on Payment Activity at March 31, 2020 (in thousands)

			Non-
	Performing		Performing		Total
Mortgage Loans:
1 to 4 Family	$	69,532	$	—	$	69,532
Multifamily		3,215		—		3,215
Commercial real estate		1,095		—		1,095
Non-Mortgage Loans:
Consumer		206		—		206
Total	$	74,048	$	—	$	74,048

Credit Quality Indicators - Credit Risk Profile Based on Payment Activity at December 31, 2019 (in thousands)

			Non-
	Performing		Performing		Total
Mortgage Loans:
1 to 4 Family	$	73,591	$	—	$	73,591
Multifamily		3,567		—		3,567
Commercial real estate		1,117		—		1,117
Non-Mortgage Loans:
Consumer		209		—		209
Total	$	78,484	$	—	$	78,484

Summary of aged analysis of past due loans receivable

Aged Analysis of Past Due Loans Receivable at March 31, 2020 (in thousands)

	30-59		60-89		90 Days or						Total
	Days		Days		Greater		Total				Loans
	Past Due		Past Due		Past Due		Past Due		Current		Receivable
Mortgage Loans:
1 to 4 Family	$	—	$	89	$	—	$	89	$	69,443	$	69,532
Multifamily		—		—		—		—		3,215		3,215
Commercial real estate		—		—		—		—		1,095		1,095
Non-Mortgage Loans:
Consumer		—		—		—		—		206		206
Total	$	—	$	89	$	—	$	89	$	73,959	$	74,048

Aged Analysis of Past Due Loans Receivable at December 31, 2019 (in thousands)

	30-59		60-89		90 Days or						Total
	Days		Days		Greater		Total				Loans
	Past Due		Past Due		Past Due		Past Due		Current		Receivable
Mortgage Loans:
1 to 4 Family	$	—	$	89	$	—	$	89	$	73,502	$	73,591
Multifamily		—		—		—		—		3,567		3,567
Commercial real estate		—		—		—		—		1,117		1,117
Non-Mortgage Loans:
Consumer		—		—		—		—		209		209
Total	$	—	$	89	$	—	$	89	$	78,395	$	78,484

Summary of information pertaining to impaired loans

Impaired Loans

March 31, 2020

(in thousands)

			Unpaid				Average		Interest
	Recorded		Principal		Related		Recorded		Income
	Investment		Balance		Allowance		Investment		Recognized
Mortgage Loans	$	—	$	—	$	—	$	—	$	—
Non-Mortgage Loans	$	—	$	—	$	—	$	—	$	—

Impaired Loans

December 31, 2019

(in thousands)

			Unpaid				Average		Interest
	Recorded		Principal		Related		Recorded		Income
	Investment		Balance		Allowance		Investment		Recognized
Mortgage Loans	$	—	$	—	$	—	$	—	$	—
Non-Mortgage Loans	$	—	$	—	$	—	$	—	$	—

Based on Loan Grades

Financing Receivable, Recorded Investment [Line Items]

Summary of credit quality indicators

Credit Quality Indicators - Credit Risk Profile Based on Loan Grades at March 31, 2020 (in thousands)

					Special
	Pass		Watch		Mention		Substandard		Doubtful		Total
Mortgage Loans:
1 to 4 Family	$	68,881	$	87	$	—	$	564	$	—	$	69,532
Multifamily		3,215		—		—		—		—		3,215
Commercial real estate		1,095		—		—		—		—		1,095
Non-Mortgage Loans:
Consumer		206		—		—		—		—		206
Total	$	73,397	$	87	$	—	$	564	$	—	$	74,048

Credit Quality Indicators - Credit Risk Profile Based on Loan Grades at December 31, 2019 (in thousands)

					Special
	Pass		Watch		Mention		Substandard		Doubtful		Total
Mortgage Loans:
1 to 4 Family	$	72,937	$	87	$	—	$	567	$	—	$	73,591
Multifamily		3,567		—		—		—		—		3,567
Commercial real estate		1,117		—		—		—		—		1,117
Non-Mortgage Loans:
Consumer		209		—		—		—		—		209
Total	$	77,830	$	87	$	—	$	567	$	—	$	78,484