XML 35 R26.htm IDEA: XBRL DOCUMENT v3.22.1
Loans Receivable (Tables)
3 Months Ended
Mar. 31, 2022
Loans Receivable  
Schedule of major classifications of loans

At March 31, 

At December 31,

(In thousands)

    

2022

    

2021

 

Originated Loans:

 

  

 

  

Residential mortgages:

 

  

 

  

One- to four-family

$

101,613

$

102,766

 

101,613

 

102,766

Commercial loans:

 

  

 

  

Real estate - nonresidential

 

19,164

 

19,734

Multi-family

 

452

 

456

Commercial business

 

12,172

 

12,366

 

31,788

 

32,556

Consumer:

 

  

 

  

Home equity and junior liens

 

9,663

 

8,840

Manufactured homes

 

48,116

 

47,717

Automobile

 

22,025

 

22,666

Student

 

2,102

 

2,096

Recreational vehicle

28,692

29,463

Other consumer

 

5,242

 

5,408

 

115,840

 

116,190

Total originated loans

 

249,241

 

251,512

Net deferred loan costs

 

15,212

 

15,650

Less allowance for loan losses

 

(1,974)

 

(1,841)

Net originated loans

$

262,479

$

265,321

At March 31,

At December 31,

(In thousands)

    

2022

    

2021

Acquired Loans:

  

  

Residential mortgages:

 

  

 

  

One- to four-family

$

9,678

$

10,295

 

9,678

 

10,295

Commercial loans:

 

  

 

  

Real estate - nonresidential

 

1,693

 

1,744

Commercial business

 

126

 

162

 

1,819

 

1,906

Consumer:

 

  

 

  

Home equity and junior liens

 

770

 

861

Other consumer

 

67

 

84

 

837

 

945

Total acquired loans

 

12,334

 

13,146

Net deferred loan costs

 

(58)

 

(60)

Fair value credit and yield adjustment

 

(270)

 

(287)

Net acquired loans

$

12,006

$

12,799

At March 31,

At December 31,

(In thousands)

    

2022

    

2021

Total Loans:

  

Residential mortgages:

  

  

One- to four-family

$

111,291

$

113,061

 

111,291

 

113,061

Commercial loans:

 

  

 

  

Real estate - nonresidential

 

20,857

 

21,478

Multi-family

 

452

 

456

Commercial business

 

12,298

 

12,528

 

33,607

 

34,462

Consumer:

 

  

 

  

Home equity and junior liens

 

10,433

 

9,701

Manufactured homes

 

48,116

 

47,717

Automobile

 

22,025

 

22,666

Student

 

2,102

 

2,096

Recreational vehicle

28,692

29,463

Other consumer

 

5,309

 

5,492

 

116,677

 

117,135

Total Loans

 

261,575

 

264,658

Net deferred loan costs

 

15,154

 

15,590

Fair value credit and yield adjustment

 

(270)

 

(287)

Less allowance for loan losses

 

(1,974)

 

(1,841)

Loans receivable, net

$

274,485

$

278,120

Summary of loan portfolio by Company's internal risk rating system

At March 31, 2022

Special

(In thousands)

    

Pass

    

Mention

    

Substandard

    

Doubtful

    

Total

Originated Loans:

 

  

 

  

 

  

 

  

 

  

Residential mortgages:

 

  

 

  

 

  

 

  

 

  

One- to four-family

$

97,862

$

1,640

$

2,111

$

$

101,613

 

97,862

 

1,640

 

2,111

 

 

101,613

Commercial loans:

 

  

 

  

 

 

  

 

  

Real estate - nonresidential

 

13,918

 

3,096

 

2,150

 

 

19,164

Multi-family

 

452

 

 

 

 

452

Commercial business

 

8,445

 

2,806

 

921

 

 

12,172

 

22,815

 

5,902

 

3,071

 

 

31,788

Consumer:

 

  

 

  

 

  

 

  

 

  

Home equity and junior liens

 

9,511

 

40

 

112

 

 

9,663

Manufactured homes

 

48,072

 

 

44

 

 

48,116

Automobile

 

22,010

 

 

15

 

 

22,025

Student

 

2,007

 

20

 

75

 

 

2,102

Recreational vehicle

28,438

205

49

28,692

Other consumer

 

5,242

 

 

 

 

5,242

 

115,280

 

265

 

295

 

 

115,840

Total originated loans

$

235,957

$

7,807

$

5,477

$

$

249,241

At March 31, 2022

Special

(In thousands)

    

Pass

    

Mention

    

Substandard

    

Doubtful

    

Total

Acquired Loans:

 

  

 

  

 

  

 

  

 

  

Residential mortgages:

 

  

 

  

 

  

 

  

 

  

One- to four-family

$

9,422

$

100

$

156

$

$

9,678

 

9,422

 

100

 

156

 

 

9,678

Commercial loans:

 

  

 

  

 

  

 

  

 

  

Real estate - nonresidential

 

1,693

 

 

 

 

1,693

Commercial business

 

126

 

 

 

 

126

 

1,819

 

 

 

 

1,819

Consumer:

 

  

 

  

 

  

 

  

 

  

Home equity and junior liens

 

770

 

 

 

 

770

Other consumer

 

67

 

 

 

 

67

 

837

 

 

 

 

837

Total acquired loans

$

12,078

$

100

$

156

$

$

12,334

At March 31, 2022

Special

(In thousands)

    

Pass

    

Mention

    

Substandard

    

Doubtful

    

Total

Total Loans:

 

  

 

  

 

  

 

  

 

  

Residential mortgages:

 

  

 

  

 

  

 

  

 

  

One- to four-family

$

107,284

$

1,740

$

2,267

$

$

111,291

 

107,284

 

1,740

 

2,267

 

 

111,291

Commercial loans:

 

  

 

  

 

  

 

  

 

  

Real estate - nonresidential

 

15,611

 

3,096

 

2,150

 

 

20,857

Multi-family

 

452

 

 

 

 

452

Commercial business

 

8,571

 

2,806

 

921

 

 

12,298

 

24,634

 

5,902

 

3,071

 

 

33,607

Consumer:

 

  

 

  

 

  

 

  

 

  

Home equity and junior liens

 

10,281

 

40

 

112

 

 

10,433

Manufactured homes

 

48,072

 

 

44

 

 

48,116

Automobile

 

22,010

 

 

15

 

 

22,025

Student

 

2,007

 

20

 

75

 

 

2,102

Recreational vehicle

28,438

205

49

28,692

Other consumer

 

5,309

 

 

 

 

5,309

 

116,117

 

265

 

295

 

 

116,677

Total loans

$

248,035

$

7,907

$

5,633

$

$

261,575

At December 31, 2021

Special

(In thousands)

    

Pass

    

Mention

    

Substandard

    

Doubtful

    

Total

Originated Loans:

 

  

 

  

 

  

 

  

 

  

Residential mortgages:

 

  

 

  

 

  

 

  

 

  

One- to four-family

$

99,294

$

1,110

$

2,362

$

$

102,766

 

99,294

 

1,110

 

2,362

 

 

102,766

Commercial loans:

 

  

 

  

 

 

  

 

  

Real estate - nonresidential

 

14,464

 

3,045

 

2,225

 

 

19,734

Multi-family

 

456

 

 

 

 

456

Commercial business

 

10,256

 

1,112

 

998

 

 

12,366

 

25,176

 

4,157

 

3,223

 

 

32,556

Consumer:

 

  

 

  

 

  

 

  

 

  

Home equity and junior liens

 

8,753

 

41

 

46

 

 

8,840

Manufactured homes

 

47,717

 

 

 

 

47,717

Automobile

 

22,558

 

64

 

44

 

 

22,666

Student

 

2,096

 

 

 

 

2,096

Recreational vehicle

29,424

39

29,463

Other consumer

 

5,376

 

32

 

 

 

5,408

 

115,924

 

176

 

90

 

 

116,190

Total originated loans

$

240,394

$

5,443

$

5,675

$

$

251,512

At December 31, 2021

Special

(In thousands)

    

Pass

    

Mention

    

Substandard

    

Doubtful

    

Total

Acquired Loans:

 

  

 

  

 

  

 

  

 

  

Residential mortgages:

 

  

 

  

 

  

 

  

 

  

One- to four-family

$

10,038

$

42

$

215

$

$

10,295

 

10,038

 

42

 

215

 

 

10,295

Commercial loans:

 

  

 

  

 

  

 

  

 

  

Real estate - nonresidential

 

1,744

 

 

 

 

1,744

Commercial business

 

162

 

 

 

 

162

 

1,906

 

 

 

 

1,906

Consumer:

 

  

 

  

 

  

 

  

 

  

Home equity and junior liens

 

841

 

 

20

 

 

861

Other consumer

 

84

 

 

 

 

84

 

925

 

 

20

 

 

945

Total acquired loans

$

12,869

$

42

$

235

$

$

13,146

At December 31, 2021

Special

(In thousands)

    

Pass

    

Mention

    

Substandard

    

Doubtful

    

Total

Total Loans:

 

  

 

  

 

  

 

  

 

  

Residential mortgages:

 

  

 

  

 

  

 

  

 

  

One- to four-family

$

109,332

$

1,152

$

2,577

$

$

113,061

 

109,332

 

1,152

 

2,577

 

 

113,061

Commercial loans:

 

  

 

  

 

  

 

  

 

  

Real estate - nonresidential

 

16,208

 

3,045

 

2,225

 

 

21,478

Multi-family

 

456

 

 

 

 

456

Commercial business

 

10,418

 

1,112

 

998

 

 

12,528

 

27,082

 

4,157

 

3,223

 

 

34,462

Consumer:

 

  

 

  

 

  

 

  

 

  

Home equity and junior liens

 

9,594

 

41

 

66

 

 

9,701

Manufactured homes

 

47,717

 

 

 

 

47,717

Automobile

 

22,558

 

64

 

44

 

 

22,666

Student

 

2,096

 

 

 

 

2,096

Recreational vehicle

29,424

39

29,463

Other consumer

 

5,460

 

32

 

 

 

5,492

 

116,849

 

176

 

110

 

 

117,135

Total loans

$

253,263

$

5,485

$

5,910

$

$

264,658

Schedule of age analysis of past due loans, segregated by class of loans

At March 31, 2022

90 Days

 

30-59 Days

 

60-89 Days

 

or More

 

Total

 

Total Loans

Total Loans

(In thousands)

    

Past Due

    

Past Due

    

Past Due

    

Past Due

    

Current

    

Receivable

Originated Loans:

 

  

 

  

 

  

 

  

 

  

 

  

Residential mortgage loans:

 

  

 

  

 

  

 

  

 

  

 

  

One- to four-family

$

3,096

$

$

2,111

$

5,207

$

96,406

$

101,613

 

3,096

 

 

2,111

 

5,207

 

96,406

 

101,613

Commercial loans:

 

  

 

  

 

  

 

  

 

  

 

  

Real estate - nonresidential

 

2,855

 

 

416

 

3,271

 

15,893

 

19,164

Multi-family

 

 

 

 

 

452

 

452

Commercial business

 

327

 

 

134

 

461

 

11,711

 

12,172

 

3,182

 

 

550

 

3,732

 

28,056

 

31,788

Consumer loans:

 

  

 

  

 

  

 

  

 

  

 

  

Home equity and junior liens

 

128

 

 

112

 

240

 

9,423

 

9,663

Manufactured homes

 

742

 

266

 

44

 

1,052

 

47,064

 

48,116

Automobile

 

219

 

 

15

 

234

 

21,791

 

22,025

Student

 

 

20

 

75

 

95

 

2,007

 

2,102

Recreational vehicle

780

205

49

1,034

27,658

28,692

Other consumer

 

78

 

 

 

78

 

5,164

 

5,242

 

1,947

 

491

 

295

 

2,733

 

113,107

 

115,840

Total originated loans

$

8,225

$

491

$

2,956

$

11,672

$

237,569

$

249,241

At March 31, 2022

90 Days

30-59 Days

60-89 Days

or More

Total

Total Loans

Total Loans

(In thousands)

    

Past Due

    

Past Due

    

Past Due

    

Past Due

    

Current

    

Receivable

Acquired Loans:

 

  

 

  

 

  

 

  

 

  

 

  

Residential mortgage loans:

 

  

 

  

 

  

 

  

 

  

 

  

One- to four-family

$

334

$

$

156

$

490

$

9,188

$

9,678

 

334

 

 

156

 

490

 

9,188

 

9,678

Commercial loans:

 

  

 

  

 

  

 

  

 

  

 

  

Real estate - nonresidential

 

 

 

 

 

1,693

 

1,693

Commercial business

 

 

 

 

 

126

 

126

 

 

 

 

 

1,819

 

1,819

Consumer loans:

 

  

 

  

 

  

 

  

 

  

 

  

Home equity and junior liens

 

35

 

 

 

35

 

735

 

770

Other consumer

 

 

 

 

 

67

 

67

 

35

 

 

 

35

 

802

 

837

Total acquired loans

$

369

$

$

156

$

525

$

11,809

$

12,334

At March 31, 2022

90 Days

30-59 Days

60-89 Days

or More

Total

Total Loans

Total Loans

(In thousands)

    

Past Due

    

Past Due

    

Past Due

    

Past Due

    

Current

    

Receivable

Total Loans:

 

  

 

  

 

  

 

  

 

  

 

  

Residential mortgage loans:

 

  

 

  

 

  

 

  

 

  

 

  

One- to four-family

$

3,430

$

$

2,267

$

5,697

$

105,594

$

111,291

 

3,430

 

 

2,267

 

5,697

 

105,594

 

111,291

Commercial loans:

 

  

 

  

 

  

 

  

 

  

 

  

Real estate - nonresidential

 

2,855

 

 

416

 

3,271

 

17,586

 

20,857

Multi-family

 

 

 

 

 

452

 

452

Commercial business

 

327

 

 

134

 

461

 

11,837

 

12,298

 

3,182

 

 

550

 

3,732

 

29,875

 

33,607

Consumer loans:

 

  

 

  

 

  

 

  

 

  

 

  

Home equity and junior liens

 

163

 

 

112

 

275

 

10,158

 

10,433

Manufactured homes

 

742

 

266

 

44

 

1,052

 

47,064

 

48,116

Automobile

 

219

 

 

15

 

234

 

21,791

 

22,025

Student

 

 

20

 

75

 

95

 

2,007

 

2,102

Recreational vehicle

780

205

49

1,034

27,658

28,692

Other consumer

 

78

 

 

 

78

 

5,231

 

5,309

 

1,982

 

491

 

295

 

2,768

 

113,909

 

116,677

Total loans

$

8,594

$

491

$

3,112

$

12,197

$

249,378

$

261,575

At December 31, 2021

90 Days

 

30-59 Days

 

60-89 Days

 

or More

 

Total

 

Total Loans

Total Loans

(In thousands)

 

Past Due

 

Past Due

 

Past Due

 

Past Due

 

Current

 

Receivable

Originated Loans:

    

  

    

  

    

  

    

  

    

  

    

  

Residential mortgage loans:

 

  

 

  

 

  

 

  

 

  

 

  

One- to four-family

$

3,137

$

757

$

2,362

$

6,256

$

96,510

$

102,766

 

3,137

 

757

 

2,362

 

6,256

 

96,510

 

102,766

Commercial loans:

 

  

 

  

 

  

 

  

 

  

 

  

Real estate - nonresidential

 

389

 

 

416

 

805

 

18,929

 

19,734

Multi-family

 

 

 

 

 

456

 

456

Commercial business

 

 

8

 

161

 

169

 

12,197

 

12,366

 

389

 

8

 

577

 

974

 

31,582

 

32,556

Consumer loans:

 

  

 

  

 

  

 

  

 

  

 

  

Home equity and junior liens

 

149

 

31

 

46

 

226

 

8,614

 

8,840

Manufactured homes

 

922

 

615

 

 

1,537

 

46,180

 

47,717

Automobile

 

168

 

64

 

44

 

276

 

22,390

 

22,666

Student

 

95

 

 

 

95

 

2,001

 

2,096

Recreational vehicle

605

39

644

28,819

29,463

Other consumer

 

75

 

32

 

 

107

 

5,301

 

5,408

 

2,014

 

781

 

90

 

2,885

 

113,305

 

116,190

Total originated loans

$

5,540

$

1,546

$

3,029

$

10,115

$

241,397

$

251,512

At December 31, 2021

90 Days

30-59 Days

60-89 Days

or More

Total

Total Loans

Total Loans

(In thousands)

    

Past Due

    

Past Due

    

Past Due

    

Past Due

    

Current

    

Receivable

Acquired Loans:

Residential mortgage loans:

 

  

 

  

 

  

 

  

 

  

 

  

One- to four-family

$

318

$

68

$

215

$

601

$

9,694

$

10,295

 

318

 

68

 

215

 

601

 

9,694

 

10,295

Commercial loans:

 

  

 

  

 

  

 

  

 

  

 

  

Real estate - nonresidential

 

 

 

 

 

1,744

 

1,744

Commercial business

 

27

 

 

 

27

 

135

 

162

Other commercial and industrial

 

27

 

 

 

27

 

1,879

 

1,906

 

  

 

  

 

  

 

  

 

  

 

  

Consumer loans:

 

 

 

20

 

20

 

841

 

861

Home equity and junior liens

 

 

 

 

 

84

 

84

Other consumer

 

 

 

20

 

20

 

925

 

945

$

345

$

68

$

235

$

648

$

12,498

$

13,146

At December 31, 2021

90 Days

30-59 Days

60-89 Days

or More

Total

Total Loans

Total Loans

(In thousands)

    

Past Due

    

Past Due

    

Past Due

    

Past Due

    

Current

    

Receivable

Total Loans:

 

  

 

  

 

  

 

  

 

  

 

  

Residential mortgage loans:

 

  

 

  

 

  

 

  

 

  

 

  

One- to four-family

$

3,455

$

825

$

2,577

$

6,857

$

106,204

$

113,061

 

3,455

 

825

 

2,577

 

6,857

 

106,204

 

113,061

Commercial loans:

 

  

 

  

 

  

 

  

 

  

 

  

Real estate - nonresidential

 

389

 

 

416

 

805

 

20,673

 

21,478

Multi-family

 

 

 

 

 

456

 

456

Commercial business

 

27

 

8

 

161

 

196

 

12,332

 

12,528

 

416

 

8

 

577

 

1,001

 

33,461

 

34,462

Consumer loans:

 

  

 

  

 

  

 

  

 

  

 

  

Home equity and junior liens

 

149

 

31

 

66

 

246

 

9,455

 

9,701

Manufactured homes

 

922

 

615

 

 

1,537

 

46,180

 

47,717

Automobile

 

168

 

64

 

44

 

276

 

22,390

 

22,666

Student

 

95

 

 

 

95

 

2,001

 

2,096

Recreational vehicle

605

39

644

28,819

29,463

Other consumer

 

75

 

32

 

 

107

 

5,385

 

5,492

 

2,014

 

781

 

110

 

2,905

 

114,230

 

117,135

Total loans

$

5,885

$

1,614

$

3,264

$

10,763

$

253,895

$

264,658

Non-accrual loans, segregated by class of loan

At March 31,

At December 31,

(In thousands)

    

2022

    

2021

    

Residential mortgage loans:

  

  

One- to four-family

$

2,267

$

2,577

 

2,267

 

2,577

Commercial loans:

 

  

 

  

Real estate - nonresidential

 

416

 

416

Commercial business

 

134

 

161

 

550

 

577

Consumer loans:

 

  

 

  

Home equity and junior liens

 

112

 

66

Manufactured homes

 

44

 

Automobile

 

15

 

44

Student

 

75

 

Recreational vehicle

49

 

295

 

110

Total non-accrual loans

$

3,112

$

3,264

Schedule of loans modified as troubled debt restructuring

Post-

Pre-Modification

Modification

Current

Outstanding

Outstanding

Outstanding

Number of

Recorded

Recorded

Recorded

For the three months ended March 31, 2021

Contracts

Investment

Investment

Investment

One- to four-family residential mortgages

4

$

336

$

336

$

250

Commercial business

3

46

46

34

Summary of impaired loans information by portfolio class

At March 31, 2022

Unpaid

Recorded

Principal

Related

(In thousands)

    

Investment

    

Balance

    

Allowance

With no related allowance recorded:

 

  

 

  

 

  

One- to four-family residential mortgages

$

2,158

$

2,239

$

Commercial real estate - nonresidential

 

416

 

516

 

Commercial business

 

73

 

73

 

Home equity and junior liens

 

112

 

112

 

With an allowance recorded:

 

  

 

  

 

  

Commercial business

 

55

 

55

 

12

Total:

 

  

 

  

 

  

One- to four-family residential mortgages

 

2,158

 

2,239

 

Commercial real estate - nonresidential

 

416

 

516

 

Commercial business

 

128

 

128

 

12

Home equity and junior liens

 

112

 

112

 

$

2,814

$

2,995

$

12

At December 31, 2021

Unpaid

  

Recorded

Principal

Related

(In thousands)

    

Investment

    

Balance

    

Allowance

With no related allowance recorded:

  

  

  

One- to four-family residential mortgages

$

2,352

$

2,423

$

Commercial real estate - nonresidential

 

416

 

516

 

Commercial business

 

73

 

73

 

Home equity and junior liens

 

67

 

67

 

With an allowance recorded:

 

  

 

  

 

  

One- to four-family residential mortgages

 

224

 

224

 

7

Commercial business

 

55

 

55

 

12

Total:

 

  

 

  

 

  

One- to four-family residential mortgages

 

2,576

 

2,647

 

7

Commercial real estate - nonresidential

 

416

 

516

 

Commercial business

 

128

 

128

 

12

Home equity and junior liens

 

67

 

67

 

$

3,187

$

3,358

$

19

The following table presents the average recorded investment in impaired loans:

Three Months Ended March 31, 

(In thousands)

    

2022

2021

 

One- to four-family residential mortgages

$

2,166

$

2,175

Commercial real estate - nonresidential

 

416

 

1,285

Commercial business

 

128

 

2,228

Home equity and junior liens

 

112

 

104

Other consumer

 

 

5

2,822

$

5,797

The following table presents interest income recognized on impaired loans:

Three Months Ended March 31, 

(In thousands)

    

2022

    

2021

One- to four-family residential mortgages

$

6

$

17

Commercial real estate - nonresidential

 

 

16

Multi-family

 

 

15

Home equity and junior liens

1

$

6

$

49