| Loans Receivable And Allowance For Loan Losses | Loans Receivable and Allowance for Loan Losses Loans receivable and loans held for sale by portfolio segment consisted of the following at September 30, 2015 and 2014 (dollars in thousands): 2015 2014 Mortgage loans: One- to four-family $ 116,664 $ 97,635 Multi-family 52,322 46,206 Commercial 291,216 294,354 Construction – custom and owner/builder 62,954 59,752 Construction – speculative one- to four-family 6,668 2,577 Construction – commercial 20,728 3,310 Construction – multi-family 20,570 2,840 Land 26,140 29,589 Total mortgage loans 597,262 536,263 Consumer loans: Home equity and second mortgage 34,157 34,921 Other 4,669 4,699 Total consumer loans 38,826 39,620 Commercial business loans 33,763 30,559 Total loans receivable 669,851 606,442 Less: Undisbursed portion of construction loans in process 53,457 29,416 Deferred loan origination fees 2,193 1,746 Allowance for loan losses 9,924 10,427 65,574 41,589 Loans receivable, net 604,277 564,853 Loans held for sale (one- to four-family) 3,051 899 Total loans receivable and loans held for sale, net $ 607,328 $ 565,752 Certain related parties of the Company, principally Bank directors and officers, are loan customers of the Bank in the ordinary course of business. Such related party loans were performing according to their repayment terms at September 30, 2015 and 2014 . Activity in related party loans during the years ended September 30, 2015 , 2014 and 2013 was as follows (dollars in thousands): 2015 2014 2013 Balance, beginning of year $ 927 $ 1,095 $ 1,113 New loans or advances 112 40 276 Repayments and reclassifications (409 ) (208 ) (294 ) Balance, end of year $ 630 $ 927 $ 1,095 Loan Segment Risk Characteristics The Company believes that its loan classes are the same as its loan segments. One- To Four-Family Residential Lending: The Company originates both fixed-rate and adjustable-rate loans secured by one- to four-family residences. A portion of the fixed-rate one- to four-family loans are sold in the secondary market for asset/liability management purposes and to generate non-interest income. The Company’s lending policies generally limit the maximum loan-to-value on one- to four-family loans to 90% of the lesser of the appraised value or the purchase price. However, the Company usually obtains private mortgage insurance on the portion of the principal amount that exceeds 80% of the appraised value of the property. Multi-Family Lending : The Company originates loans secured by multi-family dwelling units (more than four units). Multi-family lending generally affords the Company an opportunity to receive interest at rates higher than those generally available from one- to four-family residential lending. However, loans secured by multi-family properties usually are greater in amount, more difficult to evaluate and monitor and, therefore, involve a greater degree of risk than one- to four-family residential mortgage loans. Because payments on loans secured by multi-family properties are often dependent on the successful operation and management of the properties, repayment of such loans may be affected by adverse conditions in the real estate market or economy. The Company attempts to minimize these risks by scrutinizing the financial condition of the borrower, the quality of the collateral and the management of the property securing the loan. Commercial Mortgage Lending : The Company originates commercial real estate loans secured by properties such as office buildings, retail/wholesale facilities, motels, restaurants, mini-storage facilities and other commercial properties. Commercial real estate lending generally affords the Company an opportunity to receive interest at higher rates than those available from one- to four-family residential lending. However, loans secured by such properties usually are greater in amount, more difficult to evaluate and monitor and, therefore, involve a greater degree of risk than one- to four-family residential mortgage loans. Because payments on loans secured by commercial properties are often dependent on the successful operation and management of the properties, repayment of these loans may be affected by adverse conditions in the real estate market or economy. The Company attempts to mitigate these risks by generally limiting the maximum loan-to-value ratio to 80% and scrutinizing the financial condition of the borrower, the quality of the collateral and the management of the property securing the loan. Construction Lending : The Company currently originates the following types of construction loans: custom construction loans, owner/builder construction loans, speculative construction loans (on a limited basis), commercial real estate construction loans and multi-family construction loans. The Company is not currently originating land development loans. Construction lending affords the Company the opportunity to achieve higher interest rates and fees with shorter terms to maturity than does its single-family permanent mortgage lending. Construction lending, however, is generally considered to involve a higher degree of risk than one-to four family residential lending because of the inherent difficulty in estimating both a property’s value at completion of the project and the estimated cost of the project. The nature of these loans is such that they are generally more difficult to evaluate and monitor. If the estimated cost of construction proves to be inaccurate, the Company may be required to advance funds beyond the amount originally committed to complete the project. If the estimate of value upon completion proves to be inaccurate, the Company may be confronted with a project whose value is insufficient to assure full repayment, and the Company may incur a loss. Projects may also be jeopardized by disagreements between borrowers and builders and by the failure of builders to pay subcontractors. Loans to construct homes for which no purchaser has been identified carry more risk because the payoff for the loan depends on the builder’s ability to sell the property prior to the time that the construction loan is due. The Company attempts to mitigate these risks by adhering to its underwriting policies, disbursement procedures and monitoring practices. Construction Lending – Custom and Owner/Builder: Custom construction loans are made to home builders who, at the time of construction, have a signed contract with a home buyer who has a commitment to purchase the finished home. Owner/builder construction loans are originated to home owners rather than home builders and are typically refinanced into permanent loans at the completion of construction. Construction Lending – Speculative One- To Four-Family: Speculative one-to four-family construction loans are made to home builders and are termed “speculative” because the home builder does not have, at the time of the loan origination, a signed contract with a home buyer who has a commitment for permanent financing with the Company or another lender for the finished home. The home buyer may be identified either during or after the construction period. The Company is currently originating speculative one-to four-family construction loans on a limited basis. Construction Lending – Commercial: Commercial construction loans are originated to construct properties such as office buildings, hotels, retail rental space and mini-storage facilities. Construction Lending – Multi-Family: Multi-family construction loans are originated to construct apartment buildings and condominium projects. Construction Lending – Land Development: The Company historically originated loans to real estate developers for the purpose of developing residential subdivisions. The Company is not currently originating any land development loans. Land Lending : The Company has historically originated loans for the acquisition of land upon which the purchaser can then build or make improvements necessary to build or to sell as improved lots. Currently, the Company is originating new land loans on a limited basis. Loans secured by undeveloped land or improved lots involve greater risks than one- to four-family residential mortgage loans because these loans are more difficult to evaluate. If the estimate of value proves to be inaccurate, in the event of default or foreclosure, the Company may be confronted with a property value which is insufficient to assure full repayment. The Company attempts to minimize this risk by generally limiting the maximum loan-to-value ratio on land loans to 75% . Consumer Lending – Home Equity and Second Mortgages: The Company originates home equity lines of credit and second mortgage loans. Home equity lines of credit and second mortgage loans have a greater credit risk than one- to four-family residential mortgage loans because they are secured by mortgages subordinated to the existing first mortgage on the property, which may or may not be held by the Company. The Company attempts to mitigate these risks by adhering to its underwriting policies in evaluating the collateral and the credit-worthiness of the borrower. Consumer Lending – Other: The Company originates other consumer loans, which include automobile loans, boat loans, motorcycle loans, recreational vehicle loans, savings account loans and unsecured loans. Other consumer loans generally have shorter terms to maturity than mortgage loans. Other consumer loans generally involve a greater degree of risk than do residential mortgage loans, particularly in the case of consumer loans that are unsecured or secured by rapidly depreciating assets such as automobiles. In such cases, any repossessed collateral for a defaulted consumer loan may not provide an adequate source of repayment of the outstanding loan balance as a result of the greater likelihood of damage, loss or depreciation. The Company attempts to mitigate these risks by adhering to its underwriting policies in evaluating the credit-worthiness of the borrower. Commercial Business Lending : The Company originates commercial business loans which are generally secured by business equipment, accounts receivable, inventory or other property. The Company also generally obtains personal guarantees from the business owners based on a review of personal financial statements. Commercial business lending generally involves risks that are different from those associated with residential and commercial real estate lending. Real estate lending is generally considered to be collateral based lending with loan amounts based on predetermined loan to collateral values, and liquidation of the underlying real estate collateral is viewed as the primary source of repayment in the event of borrower default. Although commercial business loans are often collateralized by equipment, inventory, accounts receivable or other business assets, the liquidation of collateral in the event of a borrower default is often an insufficient source of repayment, because accounts receivable may be uncollectible and inventories and equipment may be obsolete or of limited use. Accordingly, the repayment of a commercial business loan depends primarily on the credit-worthiness of the borrower (and any guarantors), while the liquidation of collateral is a secondary and potentially insufficient source of repayment. The Company attempts to mitigate these risks by adhering to its underwriting policies in evaluating the management of the business and the credit-worthiness of the borrowers and the guarantors. Allowance for Loan Losses The following table sets forth information for the year ended September 30, 2015 regarding activity in the allowance for loan losses by portfolio segment (dollars in thousands): Beginning Allowance Provision for (Recapture of) Charge- offs Recoveries Ending Allowance Mortgage loans: One-to four-family $ 1,650 $ (214 ) $ (220 ) $ 264 $ 1,480 Multi-family 387 2 — 3 392 Commercial 4,836 (775 ) — 4 4,065 Construction – custom and owner/builder 450 1 — — 451 Construction – speculative one- to four-family 52 69 — 2 123 Construction – commercial 78 348 — — 426 Construction – multi-family 25 (867 ) — 1,125 283 Land 1,434 (305 ) (145 ) 37 1,021 Consumer loans: Home equity and second mortgage 879 242 (50 ) 2 1,073 Other 176 16 (9 ) 4 187 Commercial business loans 460 (42 ) — 5 423 Total $ 10,427 $ (1,525 ) $ (424 ) $ 1,446 $ 9,924 The following table sets forth information for the year ended September 30, 2014 regarding activity in the allowance for loan losses by portfolio segment (dollars in thousands): Beginning Allowance Provision for (Recapture of) Charge- offs Recoveries Ending Allowance Mortgage loans: One-to four-family $ 1,449 $ 1,113 $ (1,106 ) $ 194 $ 1,650 Multi-family 749 (362 ) — — 387 Commercial 5,275 20 (463 ) 4 4,836 Construction – custom and owner/builder 262 188 — — 450 Construction – speculative one- to four-family 96 (44 ) — — 52 Construction – commercial 56 22 — — 78 Construction – multi-family — (226 ) — 251 25 Construction – land development — (287 ) — 287 — Land 1,940 (664 ) (260 ) 418 1,434 Consumer loans: Home equity and second mortgage 782 137 (47 ) 7 879 Other 200 (20 ) (6 ) 2 176 Commercial business loans 327 123 (14 ) 24 460 Total $ 11,136 $ — $ (1,896 ) $ 1,187 $ 10,427 The following table sets forth information for the year ended September 30, 2013 regarding activity in the allowance for loan losses by portfolio segment (dollars in thousands): Beginning Allowance Provision for (Recapture of) Charge- offs Recoveries Ending Allowance Mortgage loans: One-to four-family $ 1,558 $ 565 $ (769 ) $ 95 $ 1,449 Multi-family 1,156 (407 ) — — 749 Commercial 4,247 1,640 (667 ) 55 5,275 Construction – custom and owner/builder 386 (124 ) (26 ) 26 262 Construction – speculative one- to four-family 128 (32 ) — — 96 Construction – commercial 429 (373 ) — — 56 Construction – multi-family — 116 (116 ) — — Construction – land development — (129 ) (17 ) 146 — Land 2,392 1,801 (2,307 ) 54 1,940 Consumer loans: Home equity and second mortgage 759 202 (184 ) 5 782 Other 254 (40 ) (14 ) — 200 Commercial business loans 516 (294 ) — 105 327 Total $ 11,825 $ 2,925 $ (4,100 ) $ 486 $ 11,136 The following table presents information on the loans evaluated individually and collectively for impairment in the allowance for loan losses by portfolio segment at September 30, 2015 (dollars in thousands): Allowance for Loan Losses Recorded Investment in Loans Individually Evaluated for Impairment Collectively Evaluated for Impairment Total Individually Evaluated for Impairment Collectively Evaluated for Impairment Total Mortgage loans: One- to four-family $ 307 $ 1,173 $ 1,480 $ 4,291 $ 115,424 $ 119,715 Multi-family 16 376 392 4,037 48,285 52,322 Commercial 265 3,800 4,065 12,852 278,364 291,216 Construction – custom and owner/ builder — 451 451 — 36,192 36,192 Construction – speculative one- to four-family — 123 123 — 3,781 3,781 Construction – commercial — 426 426 — 12,200 12,200 Construction – multi-family — 283 283 — 5,290 5,290 Land 37 984 1,021 2,305 23,835 26,140 Consumer loans: Home equity and second mortgage 362 711 1,073 910 33,247 34,157 Other 24 163 187 36 4,633 4,669 Commercial business loans — 423 423 — 33,763 33,763 Total $ 1,011 $ 8,913 $ 9,924 $ 24,431 $ 595,014 $ 619,445 The following table presents information on the loans evaluated individually and collectively for impairment in the allowance for loan losses by portfolio segment at September 30, 2014 (dollars in thousands): Allowance for Loan Losses Recorded Investment in Loans Individually Evaluated for Impairment Collectively Evaluated for Impairment Total Individually Evaluated for Impairment Collectively Evaluated for Impairment Total Mortgage loans: One- to four-family $ 709 $ 941 $ 1,650 $ 7,011 $ 91,523 $ 98,534 Multi-family 39 348 387 3,317 42,889 46,206 Commercial 797 4,039 4,836 17,188 277,166 294,354 Construction – custom and owner/ builder — 450 450 — 34,553 34,553 Construction – speculative one- to four-family — 52 52 — 1,204 1,204 Construction – commercial — 78 78 — 2,887 2,887 Construction – multi-family — 25 25 — 419 419 Land 300 1,134 1,434 5,158 24,431 29,589 Consumer loans: Home equity and second mortgage 162 717 879 797 34,124 34,921 Other — 176 176 3 4,696 4,699 Commercial business loans — 460 460 — 30,559 30,559 Total $ 2,007 $ 8,420 $ 10,427 $ 33,474 $ 544,451 $ 577,925 The following table presents an age analysis of past due status of loans by portfolio segment at September 30, 2015 (dollars in thousands): 30–59 Days Past Due 60-89 Days Past Due Non- Accrual(1) Past Due 90 Days or More and Still Accruing Total Past Due Current Total Loans Mortgage loans: One- to four-family $ — $ 425 $ 2,368 $ — $ 2,793 $ 116,922 $ 119,715 Multi-family — — 760 — 760 51,562 52,322 Commercial — — 1,016 — 1,016 290,200 291,216 Construction – custom and owner/ builder — 345 — — 345 35,847 36,192 Construction – speculative one- to four-family — — — — — 3,781 3,781 Construction – commercial — — — — — 12,200 12,200 Construction – multi-family — — — — — 5,290 5,290 Land 15 32 1,558 — 1,605 24,535 26,140 Consumer loans: Home equity and second mortgage 146 14 303 151 614 33,543 34,157 Other — — 35 — 35 4,634 4,669 Commercial business loans — — — — — 33,763 33,763 Total $ 161 $ 816 $ 6,040 $ 151 $ 7,168 $ 612,277 $ 619,445 __________________ (1) Includes non-accrual loans past due 90 days or more and other loans classified as non-accrual. The following table presents an age analysis of past due status of loans by portfolio segment at September 30, 2014 (dollars in thousands): 30–59 Days Past Due 60-89 Days Past Due Non- Accrual(1) Past Due 90 Days or More and Still Accruing Total Past Due Current Total Loans Mortgage loans: One- to four-family $ — $ 577 $ 4,376 $ — $ 4,953 $ 93,581 $ 98,534 Multi-family — — — — — 46,206 46,206 Commercial — 695 1,468 812 2,975 291,379 294,354 Construction – custom and owner/ builder — 156 — — 156 34,397 34,553 Construction – speculative one- to four-family — — — — — 1,204 1,204 Construction – commercial — — — — — 2,887 2,887 Construction – multi-family — — — — — 419 419 Land 357 27 4,564 — 4,948 24,641 29,589 Consumer loans: Home equity and second mortgage 62 44 498 — 604 34,317 34,921 Other 42 — 3 — 45 4,654 4,699 Commercial business loans 21 — — — 21 30,538 30,559 Total $ 482 $ 1,499 $ 10,909 $ 812 $ 13,702 $ 564,223 $ 577,925 ___________________ (1) Includes non-accrual loans past due 90 days or more and other loans classified as non-accrual. Credit Quality Indicators The Company uses credit risk grades which reflect the Company’s assessment of a loan’s risk or loss potential. The Company categorizes loans into risk grade categories based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, credit documentation, public information and current economic trends, among other factors such as the estimated fair value of the collateral. The Company uses the following definitions for credit risk ratings as part of the on-going monitoring of the credit quality of its loan portfolio: Pass: Pass loans are defined as those loans that meet acceptable quality underwriting standards. Watch: Watch loans are defined as those loans that still exhibit acceptable quality but have some concerns that justify greater attention. If these concerns are not corrected, a potential for further adverse categorization exists. These concerns could relate to a specific condition peculiar to the borrower, its industry segment or the general economic environment. Special Mention: Special mention loans are defined as those loans deemed by management to have some potential weaknesses that deserve management’s close attention. If left uncorrected, these potential weaknesses may result in the deterioration of the payment prospects of the loan. Assets in this category do not expose the Company to sufficient risk to warrant a substandard classification. Substandard : Substandard loans are defined as those loans that are inadequately protected by the current net worth and paying capacity of the obligor, or of the collateral pledged. Loans classified as substandard have a well-defined weakness or weaknesses that jeopardize the repayment of the debt. If the weakness or weaknesses are not corrected, there is the distinct possibility that some loss will be sustained. Loss: Loans in this classification are considered uncollectible and of such little value that continuance as an asset is not warranted. This classification does not mean that the loan has absolutely no recovery or salvage value, but rather it is not practical or desirable to defer writing off this loan even though partial recovery may be realized in the future. At September 30, 2015 and 2014, there were no loans classified as loss. The following table lists the loan credit risk grades utilized by the Company as credit quality indicators, by portfolio segment, at September 30, 2015 (dollars in thousands). Loan Grades Pass Watch Special Mention Substandard Total Mortgage loans: One- to four-family $ 114,402 $ 653 $ 1,339 $ 3,321 $ 119,715 Multi-family 45,249 — 6,313 760 52,322 Commercial 270,685 8,040 6,803 5,688 291,216 Construction – custom and owner / builder 36,192 — — — 36,192 Construction – speculative one- to four-family 3,781 — — — 3,781 Construction – commercial 12,200 — — — 12,200 Construction – multi-family 5,290 — — — 5,290 Land 20,964 1,105 2,078 1,993 26,140 Consumer loans: Home equity and second mortgage 32,172 664 404 917 34,157 Other 4,631 — — 38 4,669 Commercial business loans 33,635 49 79 — 33,763 Total $ 579,201 $ 10,511 $ 17,016 $ 12,717 $ 619,445 The following table lists the loan credit risk grades utilized by the Company as credit quality indicators, by portfolio segment, at September 30, 2014 (dollars in thousands): Loan Grades Pass Watch Special Mention Substandard Total Mortgage loans: One- to four-family $ 90,340 $ 1,749 $ 1,045 $ 5,400 $ 98,534 Multi-family 37,336 1,697 6,410 763 46,206 Commercial 266,467 5,819 15,946 6,122 294,354 Construction – custom and owner / builder 34,553 — — — 34,553 Construction – speculative one- to four-family 1,204 — — — 1,204 Construction – commercial 2,887 — — — 2,887 Construction – multi-family 419 — — — 419 Land 21,084 114 3,586 4,805 29,589 Consumer loans: Home equity and second mortgage 33,207 724 27 963 34,921 Other 4,657 39 — 3 4,699 Commercial business loans 30,355 112 92 — 30,559 Total $ 522,509 $ 10,254 $ 27,106 $ 18,056 $ 577,925 The following table is a summary of information related to impaired loans by portfolio segment as of and for the year ended September 30, 2015 (dollars in thousands): September 30, 2015 For the Year Ended Recorded Investment Unpaid Principal Balance (Loan Balance Plus Charge Off) Related Allowance Average Recorded Investment Interest Income Recognized Cash Basis Interest Income Recognized With no related allowance recorded: Mortgage loans: One- to four-family $ 1,321 $ 1,546 $ — $ 1,919 $ 25 $ 25 Multi-family 760 791 — 570 3 3 Commercial 7,199 8,259 — 9,078 521 412 Construction – custom and owner / builder — — — 118 — — Land 1,614 2,150 — 1,028 25 20 Consumer loans: Home equity and second mortgage 165 381 — 270 — — Commercial business loans — 6 — — — — Subtotal 11,059 13,133 — 12,983 574 460 With an allowance recorded: Mortgage loans: One- to four-family 2,970 2,970 307 3,833 149 112 Multi-family 3,277 3,277 16 3,291 184 137 Commercial 5,653 5,653 265 3,475 202 152 Construction – custom and owner / builder — — — 17 — — Land 691 691 37 3,298 32 27 Consumer loans: Home equity and second mortgage 745 745 362 516 18 15 Other 36 36 24 28 — — Subtotal 13,372 13,372 1,011 14,458 585 443 Total: Mortgage loans: One- to four-family 4,291 4,516 307 5,752 174 137 Multi-family 4,037 4,068 16 3,861 187 140 Commercial 12,852 13,912 265 12,553 723 564 Construction – custom and owner / builder — — — 135 — — Land 2,305 2,841 37 4,326 57 47 Consumer loans: Home equity and second mortgage 910 1,126 362 786 18 15 Other 36 36 24 28 — — Commercial business loans — 6 — — — — Total $ 24,431 $ 26,505 $ 1,011 $ 27,441 $ 1,159 $ 903 The following table is a summary of information related to impaired loans by portfolio segment as of and for the year ended September 30, 2014 (dollars in thousands): September 30, 2014 For the Year Ended September 30, 2014 Recorded Investment Unpaid Principal Balance (Loan Balance Plus Charge Off) Related Allowance Average Recorded Investment Interest Income Recognized Cash Basis Interest Income Recognized With no related allowance recorded: Mortgage loans: One- to four-family $ 2,647 $ 3,301 $ — $ 3,763 $ — $ — Multi-family — 857 — — — — Commercial 11,057 14,184 — 7,859 414 325 Construction – multi-family — — — 57 — — Construction – land development — — — 141 — — Land 1,079 1,674 — 1,044 12 10 Consumer loans: Home equity and second mortgage 351 574 — 276 — — Other 3 3 — 7 — — Commercial business loans — 10 — 22 — — Subtotal 15,137 20,603 — 13,169 426 335 With an allowance recorded: Mortgage loans: One- to four-family 4,364 4,364 709 4,140 146 110 Multi-family 3,317 3,317 39 4,157 220 165 Commercial 6,131 6,131 797 10,083 541 423 Construction – speculative one- to four-family — — — 275 11 7 Land 4,079 4,079 300 3,780 18 16 Consumer loans: Home equity and second mortgage 446 446 162 404 16 12 Subtotal 18,337 18,337 2,007 22,839 952 733 Total: Mortgage loans: One- to four-family 7,011 7,665 709 7,903 146 110 Multi-family 3,317 4,174 39 4,157 220 165 Commercial 17,188 20,315 797 17,942 955 748 Construction – speculative one- to four-family — — — 275 11 7 Construction – multi-family — — — 57 — — Construction – land development — — — 141 — — Land 5,158 5,753 300 4,824 30 26 Consumer loans: Home equity and second mortgage 797 1,020 162 680 16 12 Other 3 3 — 7 — — Commercial business loans — 10 — 22 — — Total $ 33,474 $ 38,940 $ 2,007 $ 36,008 $ 1,378 $ 1,068 The following table is a summary of information related to impaired loans by portfolio segment as of and for the year ended September 30, 2013 (dollars in thousands): September 30, 2013 For the Year Ended September 30, 2013 Recorded Investment Unpaid Principal Balance (Loan Balance Plus Charge Off) Related Allowance Average Recorded Investment Interest Income Recognized Cash Basis Interest Income Recognized With no related allowance recorded: Mortgage loans: One- to four-family $ 5,342 $ 5,775 $ — $ 2,661 $ 18 $ 13 Multi-family — 982 — 473 3 3 Commercial 4,879 8,005 — 8,781 322 267 Construction – custom and owner / builder — — — 97 — — Construction – speculative one- to four-family — — — 65 — — Construction – multi-family 143 608 — 293 — — Construction – land development 515 3,279 — 534 — — Land 1,188 2,133 — 3,519 9 8 Consumer loans: Home equity and second mortgage 380 556 — 266 — — Other 6 6 — 8 — — Commercial business loans — 33 — — — — Subtotal 12,453 21,377 — 16,697 352 291 With an allowance recorded: Mortgage loans: One- to four-family 3,642 3,726 600 4,397 91 68 Multi-family 5,184 5,184 334 5,960 301 230 Commercial 14,631 15,297 1,763 9,052 526 420 Construction – custom and owner / builder — — — 60 — — Construction – speculative one- to four-family 687 687 88 695 29 16 Land 1,203 1,226 234 1,962 27 27 Consumer loans: Home equity and second mortgage 299 299 57 352 16 12 Subtotal 25,646 26,419 3,076 22,478 990 773 Total: Mortgage loans: One- to four-family 8,984 9,501 600 7,058 109 81 Multi-family 5,184 6,166 334 6,433 304 233 Commercial 19,510 23,302 1,763 17,833 848 687 Construction – custom and owner / builder — — — 157 — — Construction – speculative one- to four-family 687 687 88 760 29 16 Construction – multi-family 143 608 — 293 — — Construction – land development 515 3,279 — 534 — — Land 2,391 3,359 234 5,481 36 35 Consumer loans: Home equity and second mortgage 679 855 57 618 16 12 Other 6 6 — 8 — — Commercial business loans — 33 — — — — Total $ 38,099 $ 47,796 $ 3,076 $ 39,175 $ 1,342 $ 1,064 Troubled debt restructured loans are considered impaired loans and are individually evaluated for impairment. Troubled debt restructured loans can be classified as either accrual or non-accrual. The Company had $13,718,000 in troubled debt restructured loans included in impaired loans at September 30, 2015 and had no commitments to lend additional funds on these loans. The Company had $19,088,000 in troubled debt restructured loans included in impaired loans at September 30, 2014 and had no commitments to lend additional funds on these loans. The allowance for loan losses allocated to troubled debt restructured loans at September 30, 2015 and 2014 was $310,000 and $994,000 , respectively. The following tables set forth information with respect to the Company’s troubled debt restructured loans by interest accrual status as of September 30, 2015 and 2014 (dollars in thousands): 2015 Accruing Non- Accrual Total Mortgage loans: One- to four-family $ 1,929 $ 826 $ 2,755 Multi-family 3,277 — 3,277 Commercial 6,237 — 6,237 Land 747 255 1,002 Consumer loans: Home equity and second mortgage 295 152 447 Total $ 12,485 $ 1,233 $ 13,718 2014 Accruing Non- Accrual Total Mortgage loans: One- to four-family $ 2,634 $ 233 $ 2,867 Multi-family 3,317 — 3,317 Commercial 9,960 1,468 11,428 Land 594 431 1,025 Consumer loans: Home equity and second mortgage 299 152 451 Total $ 16,804 $ 2,284 $ 19,088 The following tables set forth information with respect to the Company’s loans, by portfolio segment, which were modified in troubled debt restructurings during the years ended September 30, 2015, 2014 and 2013 (dollars in thousands): 2015 Number of Contracts Pre-Modification Outstanding Recorded Investment Post- Modification Outstanding Recorded Investment End of Period Balance One- to four-family (1) 1 $ 48 $ 48 $ 48 Total 1 $ 48 $ 48 $ 48 ___________________________ (1) Modification was a result of a reduction in the stated interest rate. 2014 Number of Contracts Pre-Modification Outstanding Recorded Investment Post- Modification Outstanding Recorded Investment End of Period Balance One-to four-family (1) 1 $ 42 $ 42 $ 42 Land (1) 1 157 157 153 Total 2 $ 199 $ 199 $ 195 _______________________________ (1) Modifications were a result of a reduction in the stated interest rate. 2013 Number of Contracts Pre-Modification Outstanding Recorded Investment Post- Modification Outstanding Recorded Investment End of Period Balance One-to four-family (1) 2 $ 353 $ 353 $ 350 Commercial (2) 2 2,327 2,327 2,318 Total 4 $ 2,680 $ 2,680 $ 2,668 _______________________________ (1) Modifications were a result of a combination of changes (i.e., a reduction in the stated interest rate and an extension of the maturity at an interest rate below current market). (2) Modifications were a result of reductions in the stated interest rates. No troubled debt restructured loans were recorded that subsequently defaulted during the years ended September 30, 2015 , 2014 or 2013 . |
