10/28/2024 | Press release | Distributed by Public on 10/28/2024 11:35
Contacts:
|
Donavon P. Ternes
|
TamHao B. Nguyen
|
||
President and
|
Senior Vice President and
|
|||
Chief Executive Officer
|
Chief Financial Officer
|
September 30,
|
June 30,
|
March 31,
|
December 31,
|
September 30,
|
|||||||||||
2024
|
2024
|
2024
|
2023
|
2023
|
|||||||||||
Assets
|
|||||||||||||||
Cash and cash equivalents
|
$
|
48,193
|
$
|
51,376
|
$
|
51,731
|
$
|
46,878
|
$
|
57,978
|
|||||
Investment securities - held to maturity, at cost with no
allowance for credit losses
|
124,268
|
130,051
|
135,971
|
141,692
|
147,574
|
||||||||||
Investment securities - available for sale, at fair value with
no allowance for credit losses
|
1,809
|
1,849
|
1,935
|
1,996
|
2,090
|
||||||||||
Loans held for investment, net of allowance for credit losses
of $6,329, $7,065, $7,108, $7,000 and $7,679, respectively;
includes $1,082, $1,047, $1,054, $1,092 and $1,061 of
loans held at fair value, respectively
|
1,048,633
|
1,052,979
|
1,065,761
|
1,075,765
|
1,072,170
|
||||||||||
Accrued interest receivable
|
4,287
|
4,287
|
4,249
|
4,076
|
3,952
|
||||||||||
FHLB - San Francisco stock and other equity investments,
includes $565, $540, $0, $0 and $0 of other equity
investments at fair value, respectively
|
10,133
|
10,108
|
9,505
|
9,505
|
9,505
|
||||||||||
Premises and equipment, net
|
9,615
|
9,313
|
9,637
|
9,598
|
9,426
|
||||||||||
Prepaid expenses and other assets
|
10,442
|
12,237
|
11,258
|
11,583
|
10,420
|
||||||||||
Total assets
|
$
|
1,257,380
|
$
|
1,272,200
|
$
|
1,290,047
|
$
|
1,301,093
|
$
|
1,313,115
|
|||||
Liabilities and Stockholders' Equity
|
|||||||||||||||
Liabilities:
|
|||||||||||||||
Noninterest-bearing deposits
|
$
|
86,458
|
$
|
95,627
|
$
|
91,708
|
$
|
94,030
|
$
|
105,944
|
|||||
Interest-bearing deposits
|
777,406
|
792,721
|
816,414
|
817,950
|
825,187
|
||||||||||
Total deposits
|
863,864
|
888,348
|
908,122
|
911,980
|
931,131
|
||||||||||
Borrowings
|
249,500
|
238,500
|
235,000
|
242,500
|
235,009
|
||||||||||
Accounts payable, accrued interest and other liabilities
|
14,410
|
15,411
|
17,419
|
16,952
|
17,770
|
||||||||||
Total liabilities
|
1,127,774
|
1,142,259
|
1,160,541
|
1,171,432
|
1,183,910
|
||||||||||
Stockholders' equity:
|
|||||||||||||||
Preferred stock, $.01 par value (2,000,000 shares authorized;
none issued and outstanding)
|
-
|
-
|
-
|
-
|
-
|
||||||||||
Common stock, $.01 par value; (40,000,000 shares
authorized; 18,229,615, 18,229,615, 18,229,615,
18,229,615 and 18,229,615 shares issued respectively;
6,769,247, 6,847,821, 6,896,297, 6,946,348 and 7,007,058
shares outstanding, respectively)
|
183
|
183
|
183
|
183
|
183
|
||||||||||
Additional paid-in capital
|
98,711
|
98,532
|
99,591
|
99,565
|
99,554
|
||||||||||
Retained earnings
|
210,853
|
209,914
|
208,923
|
208,396
|
207,231
|
||||||||||
Treasury stock at cost (11,460,368, 11,381,794, 11,333,318,
11,283,267 and 11,222,557 shares, respectively)
|
(180,155)
|
(178,685)
|
(179,183)
|
(178,476)
|
(177,732)
|
||||||||||
Accumulated other comprehensive income (loss), net of tax
|
14
|
(3)
|
(8)
|
(7)
|
(31)
|
||||||||||
Total stockholders' equity
|
129,606
|
129,941
|
129,506
|
129,661
|
129,205
|
||||||||||
Total liabilities and stockholders' equity
|
$
|
1,257,380
|
$
|
1,272,200
|
$
|
1,290,047
|
$
|
1,301,093
|
$
|
1,313,115
|
For the Quarter Ended
|
||||||
September 30,
|
||||||
2024
|
2023
|
|||||
Interest income:
|
||||||
Loans receivable, net
|
$
|
13,023
|
$
|
12,176
|
||
Investment securities
|
482
|
524
|
||||
FHLB - San Francisco stock and other equity investments
|
210
|
179
|
||||
Interest-earning deposits
|
360
|
463
|
||||
Total interest income
|
14,075
|
13,342
|
||||
Interest expense:
|
||||||
Checking and money market deposits
|
53
|
57
|
||||
Savings deposits
|
112
|
38
|
||||
Time deposits
|
2,659
|
1,790
|
||||
Borrowings
|
2,635
|
2,318
|
||||
Total interest expense
|
5,459
|
4,203
|
||||
Net interest income
|
8,616
|
9,139
|
||||
(Recovery of) provision for credit losses
|
(697)
|
545
|
||||
Net interest income, after (recovery of) provision for credit losses
|
9,313
|
8,594
|
||||
Non-interest income:
|
||||||
Loan servicing and other fees
|
104
|
(21)
|
||||
Deposit account fees
|
298
|
288
|
||||
Card and processing fees
|
320
|
353
|
||||
Other
|
177
|
131
|
||||
Total non-interest income
|
899
|
751
|
||||
Non-interest expense:
|
||||||
Salaries and employee benefits
|
4,633
|
4,114
|
||||
Premises and occupancy
|
951
|
903
|
||||
Equipment
|
343
|
287
|
||||
Professional
|
426
|
472
|
||||
Sales and marketing
|
173
|
168
|
||||
Deposit insurance premiums and regulatory assessments
|
183
|
197
|
||||
Other
|
814
|
715
|
||||
Total non-interest expense
|
7,523
|
6,856
|
||||
Income before income taxes
|
2,689
|
2,489
|
||||
Provision for income taxes
|
789
|
727
|
||||
Net income
|
$
|
1,900
|
$
|
1,762
|
||
Basic earnings per share
|
$
|
0.28
|
$
|
0.25
|
||
Diluted earnings per share
|
$
|
0.28
|
$
|
0.25
|
||
Cash dividends per share
|
$
|
0.14
|
$
|
0.14
|
For the Quarter Ended
|
|||||||||||||||
September 30,
|
June 30,
|
March 31,
|
December 31,
|
September 30,
|
|||||||||||
2024
|
2024
|
2024
|
2023
|
2023
|
|||||||||||
Interest income:
|
|||||||||||||||
Loans receivable, net
|
$
|
13,023
|
$
|
12,826
|
$
|
12,683
|
$
|
12,509
|
$
|
12,176
|
|||||
Investment securities
|
482
|
504
|
517
|
524
|
524
|
||||||||||
FHLB - San Francisco stock and
other equity investments
|
210
|
207
|
210
|
197
|
179
|
||||||||||
Interest-earning deposits
|
360
|
379
|
397
|
435
|
463
|
||||||||||
Total interest income
|
14,075
|
13,916
|
13,807
|
13,665
|
13,342
|
||||||||||
Interest expense:
|
|||||||||||||||
Checking and money market deposits
|
53
|
71
|
90
|
72
|
57
|
||||||||||
Savings deposits
|
112
|
105
|
97
|
73
|
38
|
||||||||||
Time deposits
|
2,659
|
2,657
|
2,488
|
2,128
|
1,790
|
||||||||||
Borrowings
|
2,635
|
2,632
|
2,573
|
2,618
|
2,318
|
||||||||||
Total interest expense
|
5,459
|
5,465
|
5,248
|
4,891
|
4,203
|
||||||||||
Net interest income
|
8,616
|
8,451
|
8,559
|
8,774
|
9,139
|
||||||||||
(Recovery of) provision for credit
losses
|
(697)
|
(12)
|
124
|
(720)
|
545
|
||||||||||
Net interest income, after (recovery of)
provision for credit losses
|
9,313
|
8,463
|
8,435
|
9,494
|
8,594
|
||||||||||
Non-interest income:
|
|||||||||||||||
Loan servicing and other fees
|
104
|
142
|
92
|
124
|
(21)
|
||||||||||
Deposit account fees
|
298
|
278
|
289
|
299
|
288
|
||||||||||
Card and processing fees
|
320
|
381
|
317
|
333
|
353
|
||||||||||
Other
|
177
|
666
|
150
|
119
|
131
|
||||||||||
Total non-interest income
|
899
|
1,467
|
848
|
875
|
751
|
||||||||||
Non-interest expense:
|
|||||||||||||||
Salaries and employee benefits
|
4,633
|
4,419
|
4,540
|
4,569
|
4,114
|
||||||||||
Premises and occupancy
|
951
|
945
|
835
|
903
|
903
|
||||||||||
Equipment
|
343
|
347
|
329
|
346
|
287
|
||||||||||
Professional
|
426
|
327
|
321
|
410
|
472
|
||||||||||
Sales and marketing
|
173
|
193
|
167
|
181
|
168
|
||||||||||
Deposit insurance premiums and
regulatory assessments
|
183
|
184
|
190
|
209
|
197
|
||||||||||
Other
|
814
|
757
|
786
|
726
|
715
|
||||||||||
Total non-interest expense
|
7,523
|
7,172
|
7,168
|
7,344
|
6,856
|
||||||||||
Income before income taxes
|
2,689
|
2,758
|
2,115
|
3,025
|
2,489
|
||||||||||
Provision for income taxes
|
789
|
805
|
620
|
884
|
727
|
||||||||||
Net income
|
$
|
1,900
|
$
|
1,953
|
$
|
1,495
|
$
|
2,141
|
$
|
1,762
|
|||||
Basic earnings per share
|
$
|
0.28
|
$
|
0.28
|
$
|
0.31
|
$
|
0.25
|
$
|
0.26
|
|||||
Diluted earnings per share
|
$
|
0.28
|
$
|
0.28
|
$
|
0.31
|
$
|
0.25
|
$
|
0.26
|
|||||
Cash dividends per share
|
$
|
0.14
|
$
|
0.14
|
$
|
0.14
|
$
|
0.14
|
$
|
0.14
|
As of and For the
|
|||||||
Quarter Ended
|
|||||||
September 30,
|
|||||||
2024
|
2023
|
||||||
SELECTED FINANCIAL RATIOS:
|
|||||||
Return on average assets
|
0.61
|
%
|
0.54
|
%
|
|||
Return on average stockholders' equity
|
5.78
|
%
|
5.40
|
%
|
|||
Stockholders' equity to total assets
|
10.31
|
%
|
9.84
|
%
|
|||
Net interest spread
|
2.66
|
%
|
2.75
|
%
|
|||
Net interest margin
|
2.84
|
%
|
2.88
|
%
|
|||
Efficiency ratio
|
79.06
|
%
|
69.32
|
%
|
|||
Average interest-earning assets to average interest-bearing liabilities
|
110.34
|
%
|
110.17
|
%
|
|||
SELECTED FINANCIAL DATA:
|
|||||||
Basic earnings per share
|
$
|
0.28
|
$
|
0.25
|
|||
Diluted earnings per share
|
$
|
0.28
|
$
|
0.25
|
|||
Book value per share
|
$
|
19.15
|
$
|
18.44
|
|||
Shares used for basic EPS computation
|
6,833,125
|
7,016,670
|
|||||
Shares used for diluted EPS computation
|
6,863,083
|
7,027,228
|
|||||
Total shares issued and outstanding
|
6,769,247
|
7,007,058
|
|||||
LOANS ORIGINATED FOR INVESTMENT:
|
|||||||
Mortgage loans:
|
|||||||
Single-family
|
$
|
22,449
|
$
|
12,452
|
|||
Multi-family
|
5,190
|
5,113
|
|||||
Commercial real estate
|
1,260
|
939
|
|||||
Commercial business loans
|
50
|
-
|
|||||
Total loans originated for investment
|
$
|
28,949
|
$
|
18,504
|
|||
As of and For the
|
||||||||||||||||
Quarter
|
Quarter
|
Quarter
|
Quarter
|
Quarter
|
||||||||||||
Ended
|
Ended
|
Ended
|
Ended
|
Ended
|
||||||||||||
09/30/24
|
06/30/24
|
03/31/24
|
12/31/23
|
09/30/23
|
||||||||||||
SELECTED FINANCIAL
RATIOS:
|
||||||||||||||||
Return on average assets
|
0.61
|
%
|
0.62
|
%
|
0.47
|
%
|
0.66
|
%
|
0.54
|
%
|
||||||
Return on average stockholders'
equity
|
5.78
|
%
|
5.96
|
%
|
4.57
|
%
|
6.56
|
%
|
5.40
|
%
|
||||||
Stockholders' equity to total assets
|
10.31
|
%
|
10.21
|
%
|
10.04
|
%
|
9.97
|
%
|
9.84
|
%
|
||||||
Net interest spread
|
2.66
|
%
|
2.54
|
%
|
2.55
|
%
|
2.64
|
%
|
2.75
|
%
|
||||||
Net interest margin
|
2.84
|
%
|
2.74
|
%
|
2.74
|
%
|
2.78
|
%
|
2.88
|
%
|
||||||
Efficiency ratio
|
79.06
|
%
|
72.31
|
%
|
76.20
|
%
|
76.11
|
%
|
69.32
|
%
|
||||||
Average interest-earning assets to
average interest-bearing liabilities
|
110.34
|
%
|
110.40
|
%
|
110.28
|
%
|
110.27
|
%
|
110.17
|
%
|
||||||
SELECTED FINANCIAL
DATA:
|
||||||||||||||||
Basic earnings per share
|
$
|
0.28
|
$
|
0.28
|
$
|
0.22
|
$
|
0.31
|
$
|
0.25
|
||||||
Diluted earnings per share
|
$
|
0.28
|
$
|
0.28
|
$
|
0.22
|
$
|
0.31
|
$
|
0.25
|
||||||
Book value per share
|
$
|
19.15
|
$
|
18.98
|
$
|
18.78
|
$
|
18.67
|
$
|
18.44
|
||||||
Average shares used for basic EPS
|
6,833,125
|
6,867,521
|
6,919,397
|
6,968,460
|
7,016,670
|
|||||||||||
Average shares used for diluted
EPS
|
6,863,083
|
6,893,813
|
6,935,053
|
6,980,856
|
7,027,228
|
|||||||||||
Total shares issued and outstanding
|
6,769,247
|
6,847,821
|
6,896,297
|
6,946,348
|
7,007,058
|
|||||||||||
LOANS ORIGINATED FOR
INVESTMENT:
|
||||||||||||||||
Mortgage loans:
|
||||||||||||||||
Single-family
|
$
|
22,449
|
$
|
10,862
|
$
|
8,946
|
$
|
8,660
|
$
|
12,452
|
||||||
Multi-family
|
5,190
|
4,526
|
5,865
|
6,608
|
5,113
|
|||||||||||
Commercial real estate
|
1,260
|
1,710
|
2,172
|
4,936
|
939
|
|||||||||||
Construction
|
-
|
1,480
|
-
|
-
|
-
|
|||||||||||
Commercial business loans
|
50
|
-
|
1,250
|
-
|
-
|
|||||||||||
Total loans originated for
investment
|
$
|
28,949
|
$
|
18,578
|
$
|
18,233
|
$
|
20,204
|
$
|
18,504
|
As of
|
As of
|
As of
|
As of
|
As of
|
||||||||||||
09/30/24
|
06/30/24
|
03/31/24
|
12/31/23
|
09/30/23
|
||||||||||||
ASSET QUALITY RATIOS ANDDELINQUENT
LOANS:
|
||||||||||||||||
Recourse reserve for loans sold
|
$
|
23
|
$
|
26
|
$
|
31
|
$
|
31
|
$
|
33
|
||||||
Allowance for credit losses on loans held for
investment
|
$
|
6,329
|
$
|
7,065
|
$
|
7,108
|
$
|
7,000
|
$
|
7,679
|
||||||
Non-performing loans to loans held for investment,
net
|
0.20
|
%
|
0.25
|
%
|
0.21
|
%
|
0.16
|
%
|
0.13
|
%
|
||||||
Non-performing assets to total assets
|
0.17
|
%
|
0.20
|
%
|
0.17
|
%
|
0.13
|
%
|
0.10
|
%
|
||||||
Allowance for credit losses on loans to gross loans
held for investment
|
0.61
|
%
|
0.67
|
%
|
0.67
|
%
|
0.65
|
%
|
0.72
|
%
|
||||||
Net loan charge-offs (recoveries) to average loans
receivable (annualized)
|
-
|
%
|
-
|
%
|
-
|
%
|
-
|
%
|
-
|
%
|
||||||
Non-performing loans
|
$
|
2,106
|
$
|
2,596
|
$
|
2,246
|
$
|
1,750
|
$
|
1,361
|
||||||
Loans 30 to 89 days delinquent
|
$
|
2
|
$
|
1
|
$
|
388
|
$
|
340
|
$
|
74
|
Quarter
|
Quarter
|
Quarter
|
Quarter
|
Quarter
|
|||||||||||
Ended
|
Ended
|
Ended
|
Ended
|
Ended
|
|||||||||||
09/30/24
|
06/30/24
|
03/31/24
|
12/31/23
|
09/30/23
|
|||||||||||
(Recovery) recourse provision for loans sold
|
$
|
(3)
|
$
|
(5)
|
$
|
-
|
$
|
(2)
|
$
|
-
|
|||||
(Recovery of) provision for credit losses
|
$
|
(697)
|
$
|
(12)
|
$
|
124
|
$
|
(720)
|
$
|
545
|
|||||
Net loan charge-offs (recoveries)
|
$
|
-
|
$
|
-
|
$
|
-
|
$
|
-
|
$
|
-
|
As of
|
As of
|
As of
|
As of
|
As of
|
|||||||
09/30/2024
|
06/30/2024
|
03/31/2024
|
12/31/2023
|
09/30/2023
|
|||||||
REGULATORY CAPITAL RATIOS (BANK):
|
|||||||||||
Tier 1 leverage ratio
|
9.63
|
%
|
10.02
|
%
|
9.70
|
%
|
9.48
|
%
|
9.25
|
%
|
|
Common equity tier 1 capital ratio
|
18.36
|
%
|
19.29
|
%
|
18.77
|
%
|
18.20
|
%
|
17.91
|
%
|
|
Tier 1 risk-based capital ratio
|
18.36
|
%
|
19.29
|
%
|
18.77
|
%
|
18.20
|
%
|
17.91
|
%
|
|
Total risk-based capital ratio
|
19.35
|
%
|
20.38
|
%
|
19.85
|
%
|
19.24
|
%
|
19.06
|
%
|
As of September 30,
|
|||||||||||
2024
|
2023
|
||||||||||
Balance
|
Rate(1)
|
Balance
|
Rate(1)
|
||||||||
INVESTMENT SECURITIES:
|
|||||||||||
Held to maturity (at cost):
|
|||||||||||
U.S. SBA securities
|
$
|
440
|
5.85
|
%
|
$
|
634
|
5.60
|
%
|
|||
U.S. government sponsored enterprise MBS
|
120,128
|
1.56
|
143,070
|
1.48
|
|||||||
U.S. government sponsored enterprise CMO
|
3,700
|
2.15
|
3,870
|
2.19
|
|||||||
Total investment securities held to maturity
|
$
|
124,268
|
1.59
|
%
|
$
|
147,574
|
1.52
|
%
|
|||
Available for sale (at fair value):
|
|||||||||||
U.S. government agency MBS
|
$
|
1,185
|
4.15
|
%
|
$
|
1,340
|
3.15
|
%
|
|||
U.S. government sponsored enterprise MBS
|
539
|
6.83
|
652
|
5.03
|
|||||||
Private issue CMO
|
85
|
6.15
|
98
|
4.67
|
|||||||
Total investment securities available for sale
|
$
|
1,809
|
5.04
|
%
|
$
|
2,090
|
3.81
|
%
|
|||
Total investment securities
|
$
|
126,077
|
1.64
|
%
|
$
|
149,664
|
1.55
|
%
|
(1)
|
Weighted-average yield earned on all instruments included in the balance of the respective line item.
|
As of September 30,
|
|||||||||||
2024
|
2023
|
||||||||||
Balance
|
Rate(1)
|
Balance
|
Rate(1)
|
||||||||
LOANS HELD FOR INVESTMENT:
|
|||||||||||
Mortgage loans:
|
|||||||||||
Single-family (1 to 4 units)
|
$
|
524,235
|
4.59
|
%
|
$
|
521,576
|
4.24
|
%
|
|||
Multi-family (5 or more units)
|
435,782
|
5.46
|
457,351
|
4.86
|
|||||||
Commercial real estate
|
81,169
|
6.70
|
87,954
|
5.96
|
|||||||
Construction
|
2,816
|
8.99
|
2,100
|
9.19
|
|||||||
Other
|
92
|
5.25
|
104
|
5.25
|
|||||||
Commercial business loans
|
1,510
|
10.01
|
1,321
|
10.50
|
|||||||
Consumer loans
|
63
|
18.50
|
62
|
18.50
|
|||||||
Total loans held for investment
|
1,045,667
|
5.14
|
%
|
1,070,468
|
4.66
|
%
|
|||||
Advance payments of escrows
|
127
|
125
|
|||||||||
Deferred loan costs, net
|
9,168
|
9,256
|
|||||||||
Allowance for credit losses on loans
|
(6,329)
|
(7,679)
|
|||||||||
Total loans held for investment, net
|
$
|
1,048,633
|
$
|
1,072,170
|
|||||||
Purchased loans serviced by others included above
|
$
|
1,776
|
5.73
|
%
|
$
|
10,470
|
5.18
|
%
|
(1)
|
Weighted-average yield earned on all instruments includedin the balance of the respective line item.
|
As of September 30,
|
|||||||||||
2024
|
2023
|
||||||||||
Balance
|
Rate(1)
|
Balance
|
Rate(1)
|
||||||||
DEPOSITS:
|
|||||||||||
Checking accounts - noninterest-bearing
|
$
|
86,458
|
-
|
%
|
$
|
105,944
|
-
|
%
|
|||
Checking accounts - interest-bearing
|
249,271
|
0.04
|
289,743
|
0.04
|
|||||||
Savings accounts
|
237,901
|
0.20
|
275,119
|
0.09
|
|||||||
Money market accounts
|
26,051
|
0.42
|
31,722
|
0.36
|
|||||||
Time deposits
|
264,183
|
3.88
|
228,603
|
3.37
|
|||||||
Total deposits(2)(3)
|
$
|
863,864
|
1.27
|
%
|
$
|
931,131
|
0.88
|
%
|
|||
Brokered CDs included in time deposits above
|
$
|
129,775
|
4.95
|
%
|
$
|
105,600
|
5.19
|
%
|
|||
BORROWINGS:
|
|||||||||||
Overnight
|
$
|
20,000
|
5.21
|
%
|
$
|
-
|
-
|
%
|
|||
Three months or less
|
30,000
|
4.97
|
40,000
|
5.60
|
|||||||
Over three to six months
|
40,000
|
3.98
|
47,500
|
3.81
|
|||||||
Over six months to one year
|
27,500
|
4.38
|
42,500
|
5.01
|
|||||||
Over one year to two years
|
117,000
|
4.74
|
70,000
|
4.06
|
|||||||
Over two years to three years
|
-
|
-
|
20,000
|
4.72
|
|||||||
Over three years to four years
|
15,000
|
4.41
|
-
|
-
|
|||||||
Over four years to five years
|
-
|
-
|
15,009
|
4.41
|
|||||||
Over five years
|
-
|
-
|
-
|
-
|
|||||||
Total borrowings(4)
|
$
|
249,500
|
4.63
|
%
|
$
|
235,009
|
4.52
|
%
|
(1)
|
Weighted-average rate paid on all instruments included in the balance of the respective line item.
|
(2)
|
Includes uninsured deposits of approximately $124.2 million and $146.1 million at September 30, 2024 and 2023, respectively.
|
(3)
|
The average balance of deposit accounts was approximately $34 thousand at both September 30, 2024 and 2023.
|
(4)
|
The Bank had approximately $249.2 million and $286.9 million of remaining borrowing capacity at the FHLB - San Francisco, approximately $211.5 million and $185.3 million of borrowing capacity at the Federal Reserve Bank of San Francisco and $50.0 million and $50.0 million of borrowing capacity with its correspondent bank at September 30, 2024 and 2023, respectively.
|
For the Quarter Ended
|
For the Quarter Ended
|
|||||||||||
September 30, 2024
|
September 30, 2023
|
|||||||||||
Balance
|
Rate(1)
|
Balance
|
Rate(1)
|
|||||||||
SELECTED AVERAGE BALANCE SHEETS:
|
||||||||||||
Loans receivable, net
|
$
|
1,049,131
|
4.97
|
%
|
$
|
1,072,609
|
4.54
|
%
|
||||
Investment securities
|
129,571
|
1.49
|
153,711
|
1.36
|
||||||||
FHLB - San Francisco stock and other equity
investments
|
10,120
|
8.30
|
9,505
|
7.53
|
||||||||
Interest-earning deposits
|
26,330
|
5.35
|
34,043
|
5.32
|
||||||||
Total interest-earning assets
|
$
|
1,215,152
|
4.63
|
%
|
$
|
1,269,868
|
4.20
|
%
|
||||
Total assets
|
$
|
1,245,133
|
$
|
1,300,152
|
||||||||
Deposits(2)
|
$
|
880,582
|
1.27
|
%
|
$
|
940,183
|
0.80
|
%
|
||||
Borrowings
|
220,739
|
4.74
|
212,455
|
4.33
|
||||||||
Total interest-bearing liabilities(2)
|
$
|
1,101,321
|
1.97
|
%
|
$
|
1,152,638
|
1.45
|
%
|
||||
Total stockholders' equity
|
$
|
131,501
|
$
|
130,542
|
(1)
|
Weighted-average yield earned or rate paid on all instruments included in the balance of the respective line item.
|
(2)
|
Includes the average balance of noninterest-bearing checking accounts of $90.7 million and $106.2 million during the quarters ended September 30, 2024 and 2023, respectively; and the average balance of uninsured deposits (adjusted lower by collateralized deposits) of $121.2 million and $138.9 million in the quarters ended September 30, 2024 and 2023, respectively.
|
As of
|
As of
|
As of
|
As of
|
As of
|
|||||||||||
09/30/24
|
06/30/24
|
03/31/24
|
12/31/23
|
09/30/23
|
|||||||||||
Loans on non-accrual status
|
|||||||||||||||
Mortgage loans:
|
|||||||||||||||
Single-family
|
$
|
2,106
|
$
|
2,596
|
$
|
2,246
|
$
|
1,750
|
$
|
1,361
|
|||||
Total
|
2,106
|
2,596
|
2,246
|
1,750
|
1,361
|
||||||||||
Accruing loans past due 90 days or more:
|
-
|
-
|
-
|
-
|
-
|
||||||||||
Total
|
-
|
-
|
-
|
-
|
-
|
||||||||||
Total non-performing loans (1)
|
2,106
|
2,596
|
2,246
|
1,750
|
1,361
|
||||||||||
Real estate owned, net
|
-
|
-
|
-
|
-
|
-
|
||||||||||
Total non-performing assets
|
$
|
2,106
|
$
|
2,596
|
$
|
2,246
|
$
|
1,750
|
$
|
1,361
|
(1)
|
The non-performing loan balances are net of individually evaluated or collectively evaluated allowances, specifically attached to the individual loans.
|