Loans (Tables)

3 Months Ended

Mar. 31, 2020

Loans

Major Classifications of Loans

Major classifications of loans are as follows:

	March 31,		December 31,
	2020		2019
Commercial
Development	$	15,765	$	18,222
Real estate		75,046		68,621
Commercial and industrial		12,850		13,681
Residential real estate and consumer
One-to-four family owner-occupied		29,852		29,380
One-to-four family investor-owned		30,021		28,077
Multifamily		27,720		29,531
Consumer		4,148		4,230
Subtotal	$	195,402	$	191,742
Deferred loan fees		(179)		(187)
Allowance for loan losses		(2,307)		(2,264)
Net loans	$	192,916	$	189,291

Summary of the Activity in the Allowance for Loan Losses

A summary of the activity in the allowance for loan losses by portfolio segment is as follows:

			Residential real
			estate
Three Months Ended	Commercial		and consumer		Total
March 31, 2020
Beginning balance	$	1,251	$	1,013	$	2,264
Provision for loan losses		50		(10)		40
Loans charged off		—		—		—
Recoveries of loans previously charged off		—		3		3
Total ending allowance balance	$	1,301	$	1,006	$	2,307
March 31, 2019
Beginning balance	$	940	$	1,178	$	2,118
Provision for loan losses		44		26		70
Loans charged off		—		—		—
Recoveries of loans previously charged off		—		—		—
Total ending allowance balance	$	984	$	1,204	$	2,188

Information about how loans were evaluated for impairment and the related allowance for loan losses follows:

			Residential real
			estate and
March 31, 2020	Commercial		consumer		Total
Loans:
Individually evaluated for impairment	$	781	$	1,784	$	2,565
Collectively evaluated for impairment		102,880		89,957		192,837
Total loans	$	103,661	$	91,741	$	195,402
Allowance for loan losses:
Individually evaluated for impairment	$	142	$	77	$	219
Collectively evaluated for impairment		1,159		929		2,088
Total allowance for loan losses	$	1,301	$	1,006	$	2,307

			Residential real
			estate and
December 31, 2019	Commercial		consumer		Total
Loans:
Individually evaluated for impairment	$	798	$	1,457	$	2,255
Collectively evaluated for impairment		99,726		89,761		189,487
Total loans	$	100,524	$	91,218	$	191,742
Allowance for loan losses:
Individually evaluated for impairment	$	158	$	77	$	235
Collectively evaluated for impairment		1,093		936		2,029
Total allowance for loan losses	$	1,251	$	1,013	$	2,264

Impairment and the Related Allowance for Loan Losses

Information regarding impaired loans follows:

	Principal		Recorded		Related		Average		Interest
As of  March 31, 2020	Balance		Investment		Allowance		Investment		Recognized
Loans with related allowance for loan losses:
Commercial
Commercial and industrial	$	717	$	717	$	142	$	723	$	11
Residential real estate and consumer
One-to-four family investor-owned		411		393		77		398		—
Total loans with related allowance for loan losses		1,128		1,110		219		1,121		11
Loans with no related allowance for loan losses:
Commercial
Commercial and industrial		68		64		—		67		1
Residential real estate and consumer
One-to-four family owner-occupied		1,093		1,090		—		1,093		11
One-to-four family investor-owned		242		216		—		218		—
Consumer		98		85		—		87		—
Total loans with no related allowance for loan losses		1,501		1,455		—		1,465		12
Total impaired loans	$	2,629	$	2,565	$	219	$	2,586	$	23

	Principal		Recorded		Related		Average		Interest
As of December 31, 2019	Balance		Investment		Allowance		Investment		Recognized
Loans with related allowance for loan losses:
Commercial
Commercial and industrial	$	729	$	729	$	158	$	740	$	19
Residential real estate and consumer
One-to-four family investor-owned		415		403		77		412		—
Total loans with related allowance for loan losses		1,144		1,132		235		1,152		19
Loans with no related allowance for loan losses:
Commercial
Commercial and industrial		73		69		—		77		5
Residential real estate and consumer
One-to-four family owner-occupied		795		744		—		754		5
One-to-four family investor-owned		243		221		—		231		—
Consumer		114		89		—		98		—
Total loans with no related allowance for loan losses		1,225		1,123		—		1,160		10
Total impaired loans	$	2,369	$	2,255	$	235	$	2,312	$	29

Information Regarding the Credit Quality Indicators

Information regarding the credit quality indicators most closely monitored for commercial loans by class follows:

			Special
	Pass		Mention		Substandard		Doubtful		Totals
March 31, 2020
Development	$	15,765	$	—	$	—	$	—	$	15,765
Real estate		74,467		579		—		—		75,046
Commercial and industrial		9,985		2,853		12		—		12,850
One-to-four family investor-owned		29,334		—		687		—		30,021
Multifamily		27,720		—		—		—		27,720
Totals	$	157,271	$	3,432	$	699	$	—	$	161,402
December 31, 2019
Development	$	18,222	$	—	$	—	$	—	$	18,222
Real estate		68,036		585		—		—		68,621
Commercial and industrial		10,888		2,779		14		—		13,681
One-to-four family investor-owned		27,453		—		624		—		28,077
Multifamily		29,531		—		—		—		29,531
Totals	$	154,130	$	3,364	$	638	$	—	$	158,132

Information regarding the credit quality indicators most closely monitored for residential real estate and consumer loans by class follows:

	Performing		Non-performing		Totals
March 31, 2020
One-to-four family owner-occupied	$	29,852	$	—	$	29,852
Consumer		4,064		84		4,148
	$	33,916	$	84	$	34,000
December 31, 2019
One-to-four family owner-occupied	$	28,636	$	744	$	29,380
Consumer		4,141		89		4,230
	$	32,777	$	833	$	33,610

Loan Aging Information

Loan aging information follows:

			Loans Past Due		Loans Past Due				Nonaccrual
	Current Loans		30-89 Days		90+ Days		Total Loans		Loans
March 31, 2020
Commercial
Development	$	15,765	$	—	$	—	$	15,765	$	—
Real estate		75,046		—		—		75,046		—
Commercial and industrial		12,850		—		—		12,850		12
Residential real estate and consumer
One-to-four family owner-occupied		29,683		169		—		29,852		—
One-to-four family investor-owned		29,934		87		—		30,021		610
Multifamily		27,720		—		—		27,720		—
Consumer		4,093		55		—		4,148		84
Total	$	195,091	$	311	$	—	$	195,402	$	706

			Loans Past Due		Loans Past Due				Nonaccrual
	Current Loans		30-89 Days		90+ Days		Total Loans		Loans
December 31, 2019
Commercial
Development	$	18,222	$	—	$	—	$	18,222	$	—
Real estate		68,621		—		—		68,621		—
Commercial and industrial		13,681		—		—		13,681		14
Residential real estate and consumer
One-to-four family owner-occupied		29,034		—		346		29,380		346
One-to-four family investor-owned		28,077		—		—		28,077		624
Multifamily		29,531		—		—		29,531		—
Consumer		4,230		—		—		4,230		86
Total	$	191,396	$	—	$	346	$	191,742	$	1,070