HVBC 2016 Annual Report
HV Bancorp, Inc. and Subsidiary Notes to the Consolidated Financial Statements Years Ended June 30, 2017 and 2016 67 3. Loans Receivable Loans receivable at June 30, 2017 and 2016 were comprised of the following: (Dollars in thousands) 2017 2016 Residential: One-to-four family $ 88,578 $ 71,980 Home equity and HELOCs 5,466 6,448 Commercial: Commercial real estate 12,191 11,620 Commercial business 3,801 558 Construction 2,004 3,179 Consumer 5 10 112,045 93,795 Less: Unearned discounts, origination and commitment fees and costs 359 142 Allowance for loan losses (593) (487) $ 111,811 $ 93,450 Overdraft deposits are reclassified as consumer loans and are included in the total loans on the consolidated statements of financial condition. Overdrafts were $5,000 and $10,000 and at June 30, 2017 and 2016, respectively. In the ordinary course of business, the Company has granted loans to related parties. The amount outstanding at June 30, 2017 and 2016 was $4.1 million and $1.6 million, respectively. Originations to related parties and repayments from related parties during the year ended June 30, 2017 were $3,305,000 and $779,000, respectively. Originations to and repayments from related parties during the year ended June 30, 2016 were $922,000 and $43,000, respectively. The following tables summarize the activity in the allowance for loan losses by loan class for the years ended June 30, 2017 and 2016: Allowance for Loan Losses 2017 (Dollars in thousands) Beginning Balance Charge- offs Recoveries (Credit) Provisions Ending Balance Ending Balance: Individually Evaluated for Impairment Ending Balance: Collectively Evaluated for Impairments Residential: One-to-four family $ 314 $ — $ 8 $ 77 $ 399 $ — $ 399 Home equity and HELOCs 18 (125) — 145 38 — 38 Commercial: Commercial real estate 131 — 25 (67) 89 — 89 Commercial business 23 — — 35 58 15 43 Construction 1 — — 8 9 — 9 Consumer — (4) 1 3 — — — Unallocated reserve — — — — — — — $ 487 $ (129) $ 34 $ 201 $ 593 $ 15 $ 578
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