Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | NOTE 4 : LOANS AND ALLOWANCE FOR LOAN LOSSES Categories of loans at December 31, 2018 2017 December 31, 2018 2017 Real estate - residential mortgage: One to four family units $ 132,410,810 $ 106,300,790 Multi-family 90,548,265 85,225,074 Real estate - construction 88,553,995 64,743,582 Real estate - commercial 322,921,323 261,866,285 Commercial loans 119,369,484 94,522,840 Consumer and other loans 33,091,017 24,716,447 Total loans 786,894,894 637,375,018 Less: Allowance for loan losses (7,995,569 ) (7,107,418 ) Deferred loan fees/costs, net (600,719 ) (662,591 ) Net loans $ 778,298,606 $ 629,605,009 Classes of loans by aging at December 31, 2018 2017 As of December 31, 2018 30-59 Days 60-89 Days Greater Than Total Past Current Total Loans Total Loans > (In Thousands) Real estate - residential mortgage: One to four family units $ 177 $ 329 $ 2,164 $ 2,670 $ 129,741 $ 132,411 $ - Multi-family 5,952 - - 5,952 84,596 90,548 - Real estate - construction - - - - 88,554 88,554 - Real estate - commercial 1,000 81 - 1,081 321,840 322,921 - Commercial loans 228 433 71 732 118,638 119,370 - Consumer and other loans 107 12 - 119 32,972 33,091 - Total $ 7,464 $ 855 $ 2,235 $ 10,554 $ 776,341 $ 786,895 $ - As of December 31, 2017 30-59 Days 60-89 Days Greater Than Total Past Current Total Loans Total Loans > (In Thousands) Real estate - residential mortgage: One to four family units $ 510 $ 731 $ 2,495 $ 3,736 $ 102,565 $ 106,301 $ - Multi-family 775 - - 775 84,450 85,225 - Real estate - construction - - - - 64,744 64,744 - Real estate - commercial 243 135 - 378 261,488 261,866 - Commercial loans 276 - 588 864 93,659 94,523 - Consumer and other loans 8 8 - 16 24,700 24,716 - Total $ 1,812 $ 874 $ 3,083 $ 5,769 $ 631,606 $ 637,375 $ - Nonaccruing loans are summarized as follows: December 31, 2018 2017 Real estate - residential mortgage: One to four family units $ 4,136,342 $ 4,423,074 Multi-family - - Real estate - construction 4,088,409 4,452,409 Real estate - commercial 3,592,476 161,491 Commercial loans 1,262,910 802,628 Consumer and other loans 1,542 121,915 Total $ 13,081,679 $ 9,961,517 The following tables present the activity in the allowance for loan losses and the recorded investment in loans based on portfolio segment and impairment method as of and for the years ended December 31, 2018, 2017 2016: As of December 31, 2018 Construction Commercial One to four family Multi-family Commercial Consumer Unallocated Total Allowance for loan losses: (In Thousands) Balance, beginning of year $ 2,244 $ 1,789 $ 946 $ 464 $ 1,031 $ 454 $ 179 $ 7,107 Provision charged to expense (35 ) 339 327 177 222 248 (53 ) $ 1,225 Losses charged off - (37 ) (8 ) - (110 ) (382 ) - $ (537 ) Recoveries 97 2 32 - 17 53 - $ 201 Balance, end of year $ 2,306 $ 2,093 $ 1,297 $ 641 $ 1,160 $ 373 $ 126 $ 7,996 Ending balance: individually evaluated for impairment $ 552 $ 106 $ 573 $ - $ 363 $ 18 $ - $ 1,612 Ending balance: collectively evaluated for impairment $ 1,754 $ 1,987 $ 724 $ 641 $ 797 $ 355 $ 126 $ 6,384 Ending balance: loans acquired with deteriorated credit quality $ - $ - $ - $ - $ - $ - $ - $ - Loans: Ending balance: individually evaluated for impairment $ 4,088 $ 1,588 $ 4,520 $ 5,952 $ 1,062 $ 169 $ - $ 17,379 Ending balance: collectively evaluated for impairment $ 84,507 $ 317,488 $ 128,258 $ 84,663 $ 118,459 $ 32,968 $ - $ 766,343 Ending balance: loans acquired with deteriorated credit quality $ - $ 2,782 $ - $ - $ 216 $ 175 $ - $ 3,173 As of December 31, 2017 Construction Commercial One to four family Multi-family Commercial Consumer Unallocated Total Allowance for loan losses: (In Thousands) Balance, beginning of year $ 1,377 $ 1,687 $ 856 $ 206 $ 1,168 $ 337 $ 111 $ 5,742 Provision charged to expense 793 174 82 258 91 284 68 $ 1,750 Losses charged off - (72 ) (11 ) - (240 ) (213 ) - $ (536 ) Recoveries 74 - 19 - 12 46 - $ 151 Balance, end of year $ 2,244 $ 1,789 $ 946 $ 464 $ 1,031 $ 454 $ 179 $ 7,107 Ending balance: individually evaluated for impairment $ 738 $ - $ 127 $ - $ 246 $ 138 $ - $ 1,249 Ending balance: collectively evaluated for impairment $ 1,506 $ 1,789 $ 819 $ 464 $ 785 $ 316 $ 179 $ 5,858 Loans: Ending balance: individually evaluated for impairment $ 4,452 $ 161 $ 4,424 $ 775 $ 739 $ 276 $ - $ 10,827 Ending balance: collectively evaluated for impairment $ 60,292 $ 261,705 $ 101,877 $ 84,450 $ 93,784 $ 24,440 $ - $ 626,548 As of December 31, 2016 Construction Commercial One to four family Multi-family Commercial Consumer Unallocated Total Allowance for loan losses: (In Thousands) Balance, beginning of year $ 1,246 $ 1,526 $ 821 $ 177 $ 1,382 $ 223 $ 437 $ 5,812 Provision charged to expense 1,262 198 48 29 (51 ) 215 (326 ) $ 1,375 Losses charged off (1,222 ) (69 ) (47 ) - (171 ) (190 ) - $ (1,699 ) Recoveries 91 32 34 - 8 89 - $ 254 Balance, end of year $ 1,377 $ 1,687 $ 856 $ 206 $ 1,168 $ 337 $ 111 $ 5,742 Ending balance: individually evaluated for impairment $ 302 $ - $ 14 $ - $ 241 $ 45 $ - $ 602 Ending balance: collectively evaluated for impairment $ 1,075 $ 1,687 $ 842 $ 206 $ 927 $ 292 $ 111 $ 5,140 Loans: Ending balance: individually evaluated for impairment $ 5,447 $ 161 $ 2,060 $ - $ 925 $ 106 $ - $ 8,699 Ending balance: collectively evaluated for impairment $ 35,465 $ 249,420 $ 104,351 $ 48,483 $ 74,480 $ 23,500 $ - $ 535,699 A loan is considered impaired, in accordance with the impairment accounting guidance (ASC- 310 10 35 16 The following summarizes impaired loans as of and for the years ended December 31, 2018 2017: As of December 31, 2018 Recorded Unpaid Specific Average Interest (In Thousands) Loans without a specific valuation allowance Real estate - residential mortgage: One to four family units $ 2 $ 2 $ - $ 1,429 $ 1 Multi-family 5,952 5,952 - 2,246 75 Real estate - construction - - - 1,144 - Real estate - commercial 3,138 3,138 - 3,764 46 Commercial loans 216 216 - 596 - Consumer and other loans 225 225 - 316 - Loans with a specific valuation allowance Real estate - residential mortgage: One to four family units $ 4,518 $ 4,518 $ 573 $ 2,858 $ - Multi-family - - - 499 - Real estate - construction 4,088 5,321 552 3,009 - Real estate - commercial 1,232 1,317 106 154 - Commercial loans 1,062 1,062 363 522 - Consumer and other loans 119 119 18 121 - Total Real estate - residential mortgage: One to four family units $ 4,520 $ 4,520 $ 573 $ 4,287 $ 1 Multi-family 5,952 5,952 - 2,745 75 Real estate - construction 4,088 5,321 552 4,153 - Real estate - commercial 4,370 4,455 106 3,918 46 Commercial loans 1,278 1,278 363 1,118 - Consumer and other loans 344 344 18 437 - Total $ 20,552 $ 21,870 $ 1,612 $ 16,658 $ 122 As of December 31, 2017 Recorded Unpaid Specific Average Interest (In Thousands) Loans without a specific valuation allowance Real estate - residential mortgage: One to four family units $ 3,180 $ 3,180 $ - $ 2,170 $ - Multi-family 775 775 - 130 5 Real estate - construction 2,840 2,840 - 2,940 - Real estate - commercial 161 161 - 311 - Commercial loans 465 465 - 536 - Consumer and other loans 3 3 - 7 1 Loans with a specific valuation allowance Real estate - residential mortgage: One to four family units $ 1,244 $ 1,244 $ 127 $ 247 $ - Multi-family - - - - - Real estate - construction 1,612 2,845 738 2,326 - Real estate - commercial - - - - - Commercial loans 274 274 246 456 - Consumer and other loans 273 273 138 208 - Total Real estate - residential mortgage: One to four family units $ 4,424 $ 4,424 $ 127 $ 2,417 $ - Multi-family 775 775 - 130 5 Real estate - construction 4,452 5,685 738 5,266 - Real estate - commercial 161 161 - 311 - Commercial loans 739 739 246 992 - Consumer and other loans 276 276 138 215 1 Total $ 10,827 $ 12,060 $ 1,249 $ 9,331 $ 6 At December 31, 2018, In assessing whether or not not The Bank considers all aspects of the modification to loan terms to determine whether or not one The following summarizes information regarding new troubled debt restructurings by class: 2018 Number of Loans Pre-Modification Post-Modification Real estate - residential mortgage: One to four family units - $ - $ - Multi-family - - - Real estate - construction - - - Real estate - commercial - - - Commercial loans 3 540,550 444,645 Consumer and other loans - - - Total 3 $ 540,550 $ 444,645 2017 Number of Loans Pre-Modification Post-Modification Real estate - residential mortgage: One to four family units - $ - $ - Multi-family - - - Real estate - construction - - - Real estate - commercial - - - Commercial loans - - - Consumer and other loans 1 119,459 119,459 Total 1 $ 119,459 $ 119,459 The troubled debt restructurings described above increased the allowance for loan losses by $171,745 $118,482 $0 $0 December 31, 2018 2017, The following presents the troubled debt restructurings by type of modification: 2018 Interest Rate Term Combination Total Modification Real estate - residential mortgage: One to four family units $ - $ - $ - $ - Multi-family - - - - Real estate - construction - - - - Real estate - commercial - - - - Commercial loans - 30,130 414,515 444,645 Consumer and other loans - - - - Total $ - $ 30,130 $ 414,515 $ 444,645 2017 Interest Rate Term Combination Total Modification Real estate - residential mortgage: One to four family units $ - $ - $ - $ - Multi-family - - - - Real estate - construction - - - - Real estate - commercial - - - - Commercial loans - - - - Consumer and other loans - 119,459 - 119,459 Total $ - $ 119,459 $ - $ 119,459 As part of the on-going monitoring of the credit quality of the Bank’s loan portfolio, management tracks loans by an internal rating system. All loans are assigned an internal credit quality rating based on an analysis of the borrower’s financial condition. The criteria used to assign quality ratings to extensions of credit that exhibit potential problems or well-defined weaknesses are primarily based upon the degree of risk and the likelihood of orderly repayment, and their effect on the Bank’s safety and soundness. The following are the internally assigned ratings: Pass-This rating represents loans that have strong asset quality and liquidity along with a multi-year track record of profitability. Special mention-This rating represents loans that are currently protected but are potentially weak. The credit risk may Substandard-This rating represents loans that show signs of continuing negative financial trends and unprofitability and therefore, is inadequately protected by the current sound worth and paying capacity of the obligor or of the collateral pledged, if any. Doubtful-This rating represents loans that have all the weaknesses of substandard classified loans with the additional characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions and values, highly questionable and improbable. Risk characteristics applicable to each segment of the loan portfolio are described as follows. Real estate-Residential 1 4 1 4 1 4 Risk is mitigated by the fact that the loans are of smaller individual amounts and spread over a large number of borrowers. Real estate-Construction: Construction and land development real estate loans are usually based upon estimates of costs and estimated value of the completed project and include independent appraisal reviews and a financial analysis of the developers and property owners. Sources of repayment of these loans may may Real estate-Commercial: Commercial real estate loans typically involve larger principal amounts, and repayment of these loans is generally dependent on the successful operations of the property securing the loan or the business conducted on the property securing the loan. These loans are viewed primarily as cash flow loans and secondarily as loans secured by real estate. Credit risk in these loans may Commercial: The commercial portfolio includes loans to commercial customers for use in financing working capital needs, equipment purchases and expansions. The loans in this category are repaid primarily from the cash flow of a borrower’s principal business operation. Credit risk in these loans is driven by creditworthiness of a borrower and the economic conditions that impact the cash flow stability from business operations. Consumer: The consumer loan portfolio consists of various term and line of credit loans such as automobile loans and loans for other personal purposes. Repayment for these types of loans will come from a borrower’s income sources that are typically independent of the loan purpose. Credit risk is driven by consumer economic factors (such as unemployment and general economic conditions in the Bank’s market area) and the creditworthiness of a borrower. The following table provides information about the credit quality of the loan portfolio using the Bank’s internal rating system as of December 31, 2018 2017: As of December 31, 2018 Construction Commercial One to four family Multi-family Commercial Consumer Total (In Thousands) Rating: Pass $ 84,375 $ 310,486 $ 126,586 $ 84,596 $ 114,525 $ 32,686 $ 753,254 Special Mention - 5,524 372 - 3,031 - 8,927 Substandard 4,179 6,911 5,453 5,952 1,814 405 24,714 Doubtful - - - - - - - Total $ 88,554 $ 322,921 $ 132,411 $ 90,548 $ 119,370 $ 33,091 $ 786,895 As of December 31, 2017 Construction Commercial One to four family Multi-family Commercial Consumer Total (In Thousands) Rating: Pass $ 60,291 $ 254,658 $ 96,723 $ 84,450 $ 93,102 $ 24,440 $ 613,664 Special Mention - 5,578 3,799 - 200 - 9,577 Substandard 4,453 1,630 5,779 775 708 276 13,621 Doubtful - - - - 513 - 513 Total $ 64,744 $ 261,866 $ 106,301 $ 85,225 $ 94,523 $ 24,716 $ 637,375 The above amounts include purchased credit impaired loans. At December 31, 2018, $3.0 The weighted average interest rate on loans as of December 31, 2018 2017 5.80% 4.82%, The Bank serviced mortgage loans for others amounting to $37,350 $45,839 December 31, 2018 2017, $47,206,950 $31,425,300 December 31, 2018 2017, |