XML 39 R27.htm IDEA: XBRL DOCUMENT v3.21.2
LOANS AND RELATED ALLOWANCE FOR LOAN LOSSES (Tables)
 3 Months Ended
Sep. 30, 2021
Receivables [Abstract]  
Schedule of Primary Segments of Loan Portfolio

The following table summarizes the primary segments of the loan portfolio as of September 30, 2021 and June 30, 2021.

September 30, 2021

June 30, 2021

Total Loans

Individually evaluated for impairment

Collectively evaluated for impairment

Total Loans

Individually evaluated for impairment

Collectively evaluated for impairment

(Dollars in Thousands)

First mortgage loans:

1 – 4 family dwellings

$

66,656

$

-

$

66,656

$

67,410

$

-

$

67,410

Construction

2,787

-

2,787

2,612

-

2,612

Land acquisition & development

670

-

670

666

-

666

Multi-family dwellings

3,402

-

3,402

3,469

-

3,469

Commercial

4,747

-

4,747

3,939

-

3,939

Consumer Loans

Home equity

1,811

-

1,811

1,340

-

1,340

Home equity lines of credit

1,500

-

1,500

1,508

-

1,508

Other

37

-

37

27

-

27

Commercial Loans

-

-

-

-

-

-

$

81,610

$

-

$

81,610

$

80,971

$

-

$

80,971

Plus: Deferred loan costs

241

278

Allowance for loan losses

(551

)

(565

)

Total

$

81,300

$

80,684

Schedule of Nonaccrual Loans

As of September 30, 2021 and June 30, 2021, there were no loans considered to be impaired and no nonaccrual loans.

19

Table of Contents

Three Months Ended

September 30,

September 30,

2021

2020

(Dollars in Thousands)

Average nonaccrual loans

1 – 4 family dwellings

$

-

$

-

Construction

-

-

Land acquisition & development

-

-

Commercial real estate

-

-

Home equity lines of credit

-

-

Total

$

-

$

-

Income that would have been recognized

$

-

$

-

Interest income recognized

$

-

$

-

Interest income foregone

$

-

$

-

Schedule of Loan Portfolio by Aging Categories

The following tables present the classes of the loan portfolio summarized by the aging categories of performing loans and nonaccrual loans as of September 30, 2021 and June 30, 2021:

Current

30 – 59 Days Past Due

60 – 89 Days Past Due

90 Days + Past Due Accruing

90 Days + Past Due Non-accrual

Total Past Due

Total Loans

(Dollars in Thousands)

September 30, 2021

First mortgage loans:

1 – 4 family dwellings

$

66,656

$

-

$

-

$

-

$

-

$

-

$

66,656

Construction

2,787

-

-

-

-

-

2,787

Land acquisition & development

670

-

-

-

-

-

670

Multi-family dwellings

3,402

-

-

-

-

-

3,402

Commercial

4,747

-

-

-

-

-

4,747

Consumer Loans:

Home equity

1,811

-

-

-

-

-

1,811

Home equity lines of credit

1,500

-

-

-

-

-

1,500

Other

37

-

-

-

-

-

37

Commercial Loans

-

-

-

-

-

-

-

$

81,610

$

-

$

-

$

-

$

-

$

-

$

81,610

Deferred loan costs

241

Allowance for loan losses

(551

)

Net Loans Receivable

$

81,300

Current

30 – 59 Days Past Due

60 – 89 Days Past Due

90 Days + Past Due Accruing

90 Days + Past Due Non-accrual

Total Past Due

Total Loans

(Dollars in Thousands)

June 30, 2021

First mortgage loans:

1 – 4 family dwellings

$

67,410

$

-

$

-

$

-

$

-

$

-

$

67,410

Construction

2,612

-

-

-

-

-

2,612

Land acquisition & development

666

-

-

-

-

-

666

Multi-family dwellings

3,469

-

-

-

-

-

3,469

Commercial

3,939

-

-

-

-

-

3,939

Consumer Loans

Home equity

1,340

-

-

-

-

-

1,340

Home equity lines of credit

1,508

-

-

-

-

-

1,508

Other

27

-

-

-

-

-

27

Commercial Loans

-

-

-

-

-

-

-

$

80,971

$

-

$

-

$

-

$

-

$

-

$

80,971

Deferred loan costs

278

Allowance for loan losses

(565

)

Net Loans Receivable

$

80,684

Schedule of Loans by Internal Classification

The following tables present the Company’s internally classified construction, land acquisition and development, multi-family residential, commercial real estate and commercial (not secured by real estate) loans at September 30, 2021 and June 30, 2021.

September 30, 2021

Construction

Land Acquisition & Development Loans

Multi-family Residential

Commercial Real Estate

Commercial

(Dollars in Thousands)

Pass

$

2,787

$

670

$

3,402

$

4,747

$

-

Special Mention

-

-

-

-

-

Substandard

-

-

-

-

-

Doubtful

-

-

-

-

-

Ending Balance

$

2,787

$

670

$

3,402

$

4,747

$

-

23

Table of Contents

June 30, 2021

Construction

Land Acquisition & Development Loans

Multi-family Residential

Commercial Real Estate

Commercial

(Dollars in Thousands)

Pass

$

2,612

$

666

$

3,469

$

3,939

$

-

Special Mention

-

-

-

-

-

Substandard

-

-

-

-

-

Doubtful

-

-

-

-

-

Ending Balance

$

2,612

$

666

$

3,469

$

3,939

$

-

Schedule of Performing and Non-Performing Loans

The following table presents performing and non-performing 1 – 4 family residential and consumer loans based on payment activity for the periods ended September 30, 2021 and June 30, 2021.

September 30, 2021

1 – 4 Family

Consumer

(Dollars in Thousands)

Performing

$

66,656

$

3,348

Non-performing

-

-

Total

$

66,656

$

3,348

June 30, 2021

1 – 4 Family

Consumer

(Dollars in Thousands)

Performing

$

67,410

$

2,875

Non-performing

-

-

Total

$

67,410

$

2,875

Schedule of Primary Segments of Allowance for Loan Losses

The following tables summarize the primary segments of the allowance for loan losses (“ALLL”), segregated into the amount required for loans individually evaluated for impairment and the amount required for loans collectively evaluated for impairment as of September 30, 2021 and 2020. Activity in the allowance is presented for the three months ended September 30, 2021 and 2020.

As of September 30, 2021

First Mortgage Loans

1 – 4 Family

Construction

Land Acquisition & Development

Multi- family

Commercial

Consumer Loans

Commercial Loans

Total

(Dollars in Thousands)

Beginning ALLL Balance at June 30, 2021

$

389

$

50

$

11

$

24

$

59

$

32

$

-

$

565

Charge-offs

-

-

-

-

-

-

-

-

Recoveries

-

-

-

-

-

-

-

-

Provisions

(17)

(16

)

10

(1)

6

 

4

 

-

(14)

Ending ALLL Balance at September 30, 2021

$

372

$

34

$

21

$

23

$

65

$

36

$

-

$

551

Individually evaluated for impairment

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

Collectively evaluated for impairment

372

34

21

23

65

36

-

551

$

372

$

34

$

21

$

23

$

65

$

36

$

-

$

551

25

Table of Contents

As of September 30, 2020

First Mortgage Loans

1 – 4 Family

Construction

Land Acquisition & Development

Multi- family

Commercial

Consumer Loans

Commercial Loans

Total

(Dollars in Thousands)

Beginning ALLL Balance at June 30, 2020

$

449

$

38

$

6

$

26

$

66

$

32

$

1

$

618

Charge-offs

-

-

-

-

-

-

-

-

Recoveries

-

-

-

-

-

-

-

-

Provisions

6

(2

)

1

-

(2

)

(2

)

1

2

Ending ALLL Balance at September 30, 2020

$

455

$

36

$

7

$

26

$

64

$

30

$

2

$

620

Individually evaluated for impairment

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

Collectively evaluated for impairment

455

36

7

26

64

30

2

620

$

455

$

36

$

7

$

26

$

64

$

30

$

2

$

620