Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Mar. 31, 2016 | May. 03, 2016 | |
Document and Entity Information | ||
Entity Registrant Name | PROVIDENT FINANCIAL HOLDINGS INC | |
Document Type | 10-Q | |
Document Period End Date | Mar. 31, 2016 | |
Amendment Flag | false | |
Entity Central Index Key | 1,010,470 | |
Current Fiscal Year End Date | --06-30 | |
Entity Common Stock, Shares Outstanding | 8,175,848 | |
Entity Filer Category | Accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No | |
Entity Well-known Seasoned Issuer | No | |
Document Fiscal Year Focus | 2,016 | |
Document Fiscal Period Focus | Q3 |
Provident Financial Holdings, I
Provident Financial Holdings, Inc. Condensed Consolidated Statements of Financial Condition (Unaudited) - USD ($) $ in Thousands | Mar. 31, 2016 | Jun. 30, 2015 |
Assets | ||
Cash and cash equivalents | $ 111,481 | $ 81,403 |
Investment securities – held to maturity, at cost | 21,014 | 800 |
Investment securities – available for sale, at fair value | 12,161 | 14,161 |
Loans held for investment, net of allowance for loan losses of $8,200 and $8,724, respectively; includes $4,583 and $4,518 at fair value, respectively | 805,567 | 814,234 |
Loans held for sale, at fair value | 184,025 | 224,715 |
Accrued interest receivable | 2,607 | 2,839 |
Real estate owned, net | 3,165 | 2,398 |
Federal Home Loan Bank (“FHLB”) – San Francisco stock | 8,094 | 8,094 |
Premises and equipment, net | 5,446 | 5,417 |
Prepaid expenses and other assets | 20,191 | 20,494 |
Total assets | 1,173,751 | 1,174,555 |
Liabilities: | ||
Non interest-bearing deposits | 68,748 | 67,538 |
Interest-bearing deposits | 858,317 | 856,548 |
Total deposits | 927,065 | 924,086 |
Borrowings | 91,317 | 91,367 |
Accounts payable, accrued interest and other liabilities | 19,719 | 17,965 |
Total liabilities | $ 1,038,101 | $ 1,033,418 |
Commitments and Contingencies | ||
Stockholders’ equity: | ||
Preferred stock, $.01 par value (2,000,000 shares authorized; none issued and outstanding) | $ 0 | $ 0 |
Common stock, $.01 par value (40,000,000 shares authorized; 17,844,365 and 17,766,865 shares issued; 8,201,883 and 8,634,607 shares outstanding, respectively) | 179 | 177 |
Additional paid-in capital | 90,512 | 88,893 |
Retained earnings | 190,084 | 188,206 |
Treasury stock at cost (9,642,482 and 9,132,258 shares, respectively) | (145,387) | (136,470) |
Accumulated other comprehensive income, net of tax | 262 | 331 |
Total stockholders’ equity | 135,650 | 141,137 |
Total liabilities and stockholders’ equity | $ 1,173,751 | $ 1,174,555 |
Provident Financial Holdings, 3
Provident Financial Holdings, Inc. Condensed Consolidated Statements of Financial Condition - Parenthetical (Unaudited) - USD ($) $ in Thousands | Mar. 31, 2016 | Jun. 30, 2015 |
Statement of Financial Position [Abstract] | ||
Allowance for loan losses on Loans held for investment | $ 8,200 | $ 8,724 |
Loans Held for Investment, at Fair Value | $ 4,583 | $ 4,518 |
Preferred stock par value per share | $ 0.01 | $ 0.01 |
Preferred stock shares authorized | 2,000,000 | 2,000,000 |
Preferred stock shares issued | 0 | 0 |
Preferred stock shares outstanding | 0 | 0 |
Common stock par value per share | $ 0.01 | $ 0.01 |
Common stock shares authorized | 40,000,000 | 40,000,000 |
Common stock shares issued | 17,844,365 | 17,766,865 |
Common stock shares outstanding | 8,201,883 | 8,634,607 |
Treasury stock shares | 9,642,482 | 9,132,258 |
Provident Financial Holdings, 4
Provident Financial Holdings, Inc. Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | Mar. 31, 2016 | Mar. 31, 2015 | |
Interest income: | ||||
Loans receivable, net | $ 9,204 | $ 9,689 | $ 27,673 | $ 28,260 |
Investment securities | 96 | 70 | 234 | 218 |
FHLB – San Francisco stock | 163 | 126 | 542 | 402 |
Interest-earning deposits | 183 | 52 | 417 | 222 |
Total interest income | 9,646 | 9,937 | 28,866 | 29,102 |
Interest expense: | ||||
Checking and money market deposits | 116 | 101 | 355 | 315 |
Savings deposits | 170 | 160 | 507 | 477 |
Time deposits | 807 | 910 | 2,500 | 2,826 |
Borrowings | 641 | 388 | 1,937 | 1,059 |
Total interest expense | 1,734 | 1,559 | 5,299 | 4,677 |
Net interest income | 7,912 | 8,378 | 23,567 | 24,425 |
Recovery from the allowance for loan losses | (694) | (111) | (1,094) | (1,283) |
Net interest income, after recovery from the allowance for loan losses | 8,606 | 8,489 | 24,661 | 25,708 |
Non-interest income: | ||||
Loan servicing and other fees | 383 | 264 | 800 | 823 |
Gain on sale of loans, net | 7,145 | 9,754 | 22,113 | 25,448 |
Deposit account fees | 590 | 607 | 1,790 | 1,837 |
(Loss) gain on sale and operations of real estate owned acquired in the settlement of loans, net | (276) | 58 | (12) | (12) |
Card and processing fees | 355 | 338 | 1,069 | 1,030 |
Other | 227 | 248 | 711 | 750 |
Total non-interest income | 8,424 | 11,269 | 26,471 | 29,876 |
Non-interest expense: | ||||
Salaries and employee benefits | 10,630 | 10,950 | 31,393 | 30,481 |
Premises and occupancy | 1,146 | 1,106 | 3,424 | 3,604 |
Equipment | 349 | 420 | 1,158 | 1,306 |
Professional expenses | 583 | 671 | 1,555 | 1,628 |
Sales and marketing expenses | 356 | 458 | 952 | 1,188 |
Deposit insurance premiums and regulatory assessments | 252 | 227 | 764 | 738 |
Other | 1,169 | 1,336 | 3,458 | 3,874 |
Total non-interest expense | 14,485 | 15,168 | 42,704 | 42,819 |
Income before income taxes | 2,545 | 4,590 | 8,428 | 12,765 |
Provision for income taxes | 1,051 | 1,990 | 3,509 | 5,447 |
Net income | $ 1,494 | $ 2,600 | $ 4,919 | $ 7,318 |
Basic earnings per share | $ 0.18 | $ 0.29 | $ 0.58 | $ 0.80 |
Diluted earnings per share | 0.18 | 0.29 | 0.57 | 0.79 |
Cash dividends per share | $ 0.12 | $ 0.11 | $ 0.36 | $ 0.33 |
Provident Financial Holdings, 5
Provident Financial Holdings, Inc. Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | Mar. 31, 2016 | Mar. 31, 2015 | |
Statement of Comprehensive Income [Abstract] | ||||
Net income | $ 1,494 | $ 2,600 | $ 4,919 | $ 7,318 |
Change in unrealized holding gain (loss) on securities available for sale | 28 | (60) | (119) | 19 |
Other Comprehensive (Income) Loss, Reclassification Adjustment from AOCI for Write-down of Securities, before Tax | 0 | 0 | 0 | 0 |
Other comprehensive income (loss), before income taxes | 28 | (60) | (119) | 19 |
Income tax provision (benefit) | (12) | 25 | 50 | (8) |
Other comprehensive income (loss) | 16 | (35) | (69) | 11 |
Total comprehensive income | $ 1,510 | $ 2,565 | $ 4,850 | $ 7,329 |
Provident Financial Holdings, 6
Provident Financial Holdings, Inc. Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands | Total | Common Stock | Additional Paid-In Capital | Retained Earnings | Treasury Stock | Accumulated Other Conprehensive Income, Net of Tax | Total Stockholder's Equity |
Shares outstanding, beginning balance at Jun. 30, 2014 | 9,312,269 | ||||||
Balances at beginning of period-Amount at Jun. 30, 2014 | $ 177 | $ 88,259 | $ 182,458 | $ (125,418) | $ 386 | $ 145,862 | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Net income | $ 7,318 | 7,318 | 7,318 | ||||
Other comprehensive loss | 11 | 11 | 11 | ||||
Purchase of treasury stock - Shares | (597,340) | ||||||
Purchase of treasury stock - Amount | (9,240) | (9,240) | |||||
Exercise of stock options - Shares | 4,000 | ||||||
Exercise of stock options - Amount | (28) | $ 0 | 28 | 28 | |||
Amortization of restricted stock | 418 | 418 | |||||
Awards of Restricted Stock | (1,641) | 1,641 | 0 | ||||
Stock Issued During Period, Value, Restricted Stock Award, Forfeitures | 13 | (13) | 0 | ||||
Stock or Unit Option Plan Expense | (486) | (486) | |||||
Stock options expense | (11) | ||||||
Tax benefit from non-qualified equity compensation | (11) | ||||||
Cash dividends | (3,014) | (3,014) | |||||
Shares outstanding, ending balance at Mar. 31, 2015 | 8,718,929 | ||||||
Balances at end of period-Amount at Mar. 31, 2015 | $ 177 | 87,552 | 186,762 | (133,030) | 397 | 141,858 | |
Shares outstanding, beginning balance at Dec. 31, 2014 | 8,995,149 | ||||||
Balances at beginning of period-Amount at Dec. 31, 2014 | $ 177 | 87,153 | 185,148 | (128,560) | 432 | 144,350 | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Net income | 2,600 | 2,600 | 2,600 | ||||
Other comprehensive loss | $ (35) | (35) | (35) | ||||
Purchase of treasury stock - Shares | (278,220) | ||||||
Purchase of treasury stock - Amount | (4,457) | (4,457) | |||||
Exercise of stock options - Shares | 2,000 | ||||||
Exercise of stock options - Amount | $ 0 | 14 | 14 | ||||
Amortization of restricted stock | 177 | 177 | |||||
Stock Issued During Period, Value, Restricted Stock Award, Forfeitures | 13 | (13) | 0 | ||||
Stock options expense | 190 | 190 | |||||
Tax benefit from non-qualified equity compensation | 5 | 5 | |||||
Cash dividends | (986) | (986) | |||||
Shares outstanding, ending balance at Mar. 31, 2015 | 8,718,929 | ||||||
Balances at end of period-Amount at Mar. 31, 2015 | $ 177 | 87,552 | 186,762 | (133,030) | 397 | 141,858 | |
Shares outstanding, beginning balance at Jun. 30, 2015 | 8,634,607 | 8,634,607 | |||||
Balances at beginning of period-Amount at Jun. 30, 2015 | $ 141,137 | $ 177 | 88,893 | 188,206 | (136,470) | 331 | 141,137 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Net income | 4,919 | 4,919 | 4,919 | ||||
Other comprehensive loss | (69) | (69) | (69) | ||||
Purchase of treasury stock - Shares | (520,224) | ||||||
Purchase of treasury stock - Amount | (8,917) | (8,917) | |||||
Exercise of stock options - Shares | 77,500 | ||||||
Exercise of stock options - Amount | $ (569) | $ 2 | 567 | 569 | |||
Stock Issued During Period, Shares, Restricted Stock Award, Gross | 10,000 | ||||||
Amortization of restricted stock | 446 | 446 | |||||
Stock or Unit Option Plan Expense | (394) | (394) | |||||
Stock options expense | 212 | ||||||
Restricted Stock or Unit Expense | 0 | ||||||
Tax benefit from non-qualified equity compensation | 212 | ||||||
Cash dividends | (3,041) | (3,041) | |||||
Shares outstanding, ending balance at Mar. 31, 2016 | 8,201,883 | 8,201,883 | |||||
Balances at end of period-Amount at Mar. 31, 2016 | $ 135,650 | $ 179 | 90,512 | 190,084 | (145,387) | 262 | 135,650 |
Shares outstanding, beginning balance at Dec. 31, 2015 | 8,345,723 | ||||||
Balances at beginning of period-Amount at Dec. 31, 2015 | $ 178 | 89,604 | 189,590 | (141,753) | 246 | 137,865 | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Net income | 1,494 | 1,494 | 1,494 | ||||
Other comprehensive loss | $ 16 | 16 | 16 | ||||
Purchase of treasury stock - Shares | (208,840) | ||||||
Purchase of treasury stock - Amount | (3,634) | (3,634) | |||||
Exercise of stock options - Shares | 57,500 | ||||||
Exercise of stock options - Amount | $ 1 | 420 | 421 | ||||
Stock Issued During Period, Shares, Restricted Stock Award, Gross | 7,500 | ||||||
Amortization of restricted stock | 152 | 152 | |||||
Stock options expense | 139 | 139 | |||||
Restricted Stock or Unit Expense | 0 | ||||||
Tax benefit from non-qualified equity compensation | 197 | 197 | |||||
Cash dividends | (1,000) | (1,000) | |||||
Shares outstanding, ending balance at Mar. 31, 2016 | 8,201,883 | 8,201,883 | |||||
Balances at end of period-Amount at Mar. 31, 2016 | $ 135,650 | $ 179 | $ 90,512 | $ 190,084 | $ (145,387) | $ 262 | $ 135,650 |
Provident Financial Holdings, 7
Provident Financial Holdings, Inc. Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 9 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Cash flows from operating activities: | ||
Net income | $ 4,919 | $ 7,318 |
Adjustments to reconcile net income to net cash provided by (used for) operating activities: | ||
Depreciation and amortization | 1,332 | 1,479 |
Recovery from the allowance for loan losses | (1,094) | (1,283) |
Unrealized gain on real estate owned | (80) | (10) |
Gain on sale of loans, net | (22,113) | (25,448) |
Gain on sale of real estate owned, net | (12) | (101) |
Stock-based compensation | 840 | 904 |
(Benefit) provision for deferred income taxes | (188) | (60) |
Tax effect from stock based compensation | (212) | 11 |
Increase in accounts payable and other liabilities | 420 | 1,650 |
Increase in prepaid expenses and other assets | (701) | 1,511 |
Loans originated for sale | (1,405,671) | (1,760,039) |
Proceeds from sale of loans | 1,471,958 | 1,634,865 |
Net cash provided by (used for) operating activities | 49,398 | (139,203) |
Cash flows from investing activities: | ||
Decrease (increase) in loans held for investment, net | 3,015 | (48,647) |
Principal payments from investment securities available for sale | 2,409 | 1,628 |
Purchase of investment securities held to maturity | (20,769) | 0 |
Purchase of investment securities available for sale | 0 | (250) |
Payments to Acquire Federal Home Loan Bank Stock | 0 | 676 |
Proceeds from sale of real estate owned | 4,971 | 1,474 |
Purchase of premises and equipment | (698) | (334) |
Net cash used for investing activities | (11,072) | (46,805) |
Cash flows from financing activities: | ||
Increase in deposits, net | 2,979 | 20,030 |
Proceeds from (Repayments of) Short-term Debt | 0 | 60,000 |
Proceeds from Issuance of Long-term Debt | 0 | 30,000 |
Repayments of long-term borrowings | (50) | (47) |
Exercise of stock options | 569 | 28 |
Tax effect from stock based compensation | 212 | (11) |
Cash dividends | (3,041) | (3,014) |
Treasury stock purchases | (8,917) | (9,240) |
Net cash (used for) provided by financing activities | (8,248) | 97,746 |
Net increase (decrease) in cash and cash equivalents | 30,078 | (88,262) |
Cash and cash equivalents at beginning of period | 81,403 | 118,937 |
Cash and cash equivalents at end of period | 111,481 | 30,675 |
Supplemental information: | ||
Cash paid for interest | 5,306 | 4,629 |
Cash paid for income taxes | 3,845 | 3,875 |
Transfer of loans held for sale to held for investment | 3,758 | 2,824 |
Real estate acquired in the settlement of loans | $ 5,083 | $ 2,572 |
Basis of Presentation
Basis of Presentation | 9 Months Ended |
Mar. 31, 2016 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Presentation | Basis of Presentation The unaudited interim condensed consolidated financial statements included herein reflect all adjustments which are, in the opinion of management, necessary to present a fair statement of the results of operations for the interim periods presented. All such adjustments are of a normal, recurring nature. The condensed consolidated statement of financial condition at June 30, 2015 is derived from the audited consolidated financial statements of Provident Financial Holdings, Inc. and its wholly-owned subsidiary, Provident Savings Bank, F.S.B. (the “Bank”) (collectively, the “Corporation”). Certain information and note disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) have been omitted pursuant to the rules and regulations of the United States Securities and Exchange Commission (“SEC”) with respect to interim financial reporting. It is recommended that these unaudited interim condensed consolidated financial statements be read in conjunction with the audited consolidated financial statements and notes thereto included in the Corporation’s Annual Report on Form 10-K for the year ended June 30, 2015. The results of operations for the quarter and nine months ended March 31, 2016 are not necessarily indicative of results that may be expected for the entire fiscal year ending June 30, 2016. |
Accounting Standard Updates ("A
Accounting Standard Updates ("ASU") | 9 Months Ended |
Mar. 31, 2016 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
Accounting Standard Updates (ASU) | Accounting Standard Updates (“ASU”) ASU 2015-05: In April 2015, the Financial Accounting Standards Board (“FASB”) issued ASU 2015-05, "Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40).” The amendments in this ASU provide guidance to customers about whether a cloud computing arrangement includes a software license. If a cloud computing arrangement includes a software license, then the customer should account for the software license element of the arrangement consistent with the acquisition of other software licenses. If a cloud computing arrangement does not include a software license, the customer should account for the arrangement as a service contract. The guidance will not change GAAP for a customer’s accounting for service contracts. In addition, the guidance in this ASU supersedes paragraph 350-40-25-16. Consequently, all software licenses within the scope of Subtopic 350-40 will be accounted for consistent with other licenses of intangible assets. This amendment will be effective for annual periods, including interim periods within those annual periods, beginning after December 15, 2015 and early adoption is permitted. The Corporation's adoption of this ASU is not expected have a material impact on its consolidated financial statements. ASU 2015-10: In June 2015, the FASB issued ASU 2015-10, "Technical Corrections and Improvements." The amendments in this ASU cover a wide range of topics in the Codification. The reason is provided before each amendment for clarity and ease of understanding. The amendments in this ASU generally related to: (1) differences between original guidance and the codification, (2) guidance clarification and reference corrections, (3) simplification and (4) minor improvements. These amendments improve the guidance and are not expected to have a significant effect on current accounting practice or create a significant administrative cost to most entities. Transition guidance varies based on the amendments in this ASU. The amendments in this ASU that require transition guidance are effective for all entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015 and early adoption is permitted. The Corporation's adoption of this ASU is not expected to have a material impact on its consolidated financial statements. All other amendments were effective upon the issuance of this ASU. ASU 2015-12: In July 2015, the FASB issued ASU 2015-12, "Plan Accounting: Defined Benefit Pension Plans (Topic 960), Defined Contribution Pension Plans (Topic 962), Health and Welfare Benefit Plans (Topic 965): (Part I) Fully Benefit-Responsive Investment Contracts, (Part II) Plan Investment Disclosures, (Part III) Measurement Date Practical Expedient (consensuses of the FASB Emerging Issues Task Force)." The amendments of this ASU (i) require fully benefit-responsive investment contracts to be measured, presented and disclosed only at contract value, not fair value; (ii) simplify the investment disclosure requirements; and (iii) provide a measurement date practical expedient for employee benefit plans. This ASU is effective for fiscal years beginning after December 15, 2015, with earlier adoption permitted. The Corporation's adoption of this ASU is not expected to have a material impact on its consolidated financial statements. ASU 2016-01: In January 2016, the FASB issued ASU 2016-01, "Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities," which requires an entity to: (i) measure equity investments at fair value through net income, with certain exceptions; (ii) present in Other Comprehensive Income the changes in instrument-specific credit risk for financial liabilities measured using the fair value option; (iii) present financial assets and financial liabilities by measurement category and form of financial asset; (iv) calculate the fair value of financial instruments for disclosure purposes based on an exit price and; (v) assess a valuation allowance on deferred tax assets related to unrealized losses of AFS debt securities in combination with other deferred tax assets. This ASU provides an election to subsequently measure certain non-marketable equity investments at cost less any impairment and adjusted for certain observable price changes. This ASU also requires a qualitative impairment assessment of such equity investments and amends certain fair value disclosure requirements. This ASU is effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The Corporation's adoption of this ASU is not expected to have a material impact on its consolidated financial statements. ASU 2016-02: In February 2016, the FASB issued ASU 2016-02, "Leases (Topic 842)." This ASU introduces a lessee model that brings most leases on the balance sheet and aligns many of the underlying principles of the new lessor model with those in the new revenue recognition standard, ASC 606, Revenue From Contracts With Customers. The new leases standard represents a wholesale change to lease accounting and will most likely result in significant implementation challenges during the transition period and beyond. This ASU will be effective for annual periods beginning after December 15, 2018 (i.e., calendar periods beginning on January 1, 2019), and interim periods therein, early adoption is permitted. The Corporation's adoption of this ASU is not expected to have a material impact on its consolidated financial statements. ASU 2016-09: In March 2016, the FASB issued ASU 2016-09, "Compensation—Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting." This ASU simplifies the accounting for stock compensation. It focuses on income tax accounting, award classification, estimating forfeitures, and cash flow presentation. This ASU will be effective for annual periods beginning after December 15, 2016, and interim periods within those annual periods, early adoption is permitted. The Corporation has not evaluated the effect of the adoption of this ASU on its consolidated financial statements. |
Earnings Per Share
Earnings Per Share | 9 Months Ended |
Mar. 31, 2016 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | Earnings Per Share Basic earnings per share (“EPS”) excludes dilution and is computed by dividing income available to common shareholders by the weighted-average number of shares outstanding for the period. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that would then share in the earnings of the entity. As of March 31, 2016 and 2015, there were outstanding options to purchase 943,500 shares and 1.1 million shares of the Corporation’s common stock, respectively, of which 216,500 shares and 246,500 shares, respectively, were excluded from the diluted EPS computation as their effect was anti-dilutive. As of March 31, 2016 and 2015, there were outstanding restricted stock awards of 190,000 shares and 265,000 shares, respectively, all of which have dilutive effects. The following table provides the basic and diluted EPS computations for the quarters and nine months ended March 31, 2016 and 2015, respectively. (In Thousands, Except Earnings Per Share) For the Quarters Ended For the Nine Months Ended 2016 2015 2016 2015 Numerator: Net income – numerator for basic earnings per share and diluted earnings per share - available to common stockholders $ 1,494 $ 2,600 $ 4,919 $ 7,318 Denominator: Denominator for basic earnings per share: Weighted-average shares 8,318 8,940 8,427 9,106 Effect of dilutive shares: Stock options 132 96 129 110 Restricted stock 66 70 64 56 Denominator for diluted earnings per share: Adjusted weighted-average shares and assumed conversions 8,516 9,106 8,620 9,272 Basic earnings per share $ 0.18 $ 0.29 $ 0.58 $ 0.80 Diluted earnings per share $ 0.18 $ 0.29 $ 0.57 $ 0.79 |
Operating Segment Reports
Operating Segment Reports | 9 Months Ended |
Mar. 31, 2016 | |
Segment Reporting [Abstract] | |
Operating Segment Reports | Operating Segment Reports The Corporation operates in two business segments: community banking through the Bank and mortgage banking through Provident Bank Mortgage (“PBM”), a division of the Bank. The following tables set forth condensed consolidated statements of operations and total assets for the Corporation’s operating segments for the quarters and nine months ended March 31, 2016 and 2015, respectively. For the Quarter Ended March 31, 2016 (In Thousands) Provident Provident Consolidated Net interest income $ 6,915 $ 997 $ 7,912 Recovery from the allowance for loan losses (690 ) (4 ) (694 ) Net interest income, after recovery from the allowance for loan losses 7,605 1,001 8,606 Non-interest income: Loan servicing and other fees (1) 126 257 383 Gain on sale of loans, net (2) 34 7,111 7,145 Deposit account fees 590 — 590 Loss on sale and operations of real estate owned acquired in the settlement of loans, net (231 ) (45 ) (276 ) Card and processing fees 355 — 355 Other 227 — 227 Total non-interest income 1,101 7,323 8,424 Non-interest expense: Salaries and employee benefits 4,761 5,869 10,630 Premises and occupancy 720 426 1,146 Operating and administrative expenses 1,232 1,477 2,709 Total non-interest expense 6,713 7,772 14,485 Income before income taxes 1,993 552 2,545 Provision for income taxes 819 232 1,051 Net income $ 1,174 $ 320 $ 1,494 Total assets, end of period $ 989,538 $ 184,213 $ 1,173,751 (1) Includes an inter-company charge of $135 credited to PBM by the Bank during the period to compensate PBM for originating loans held for investment. (2) Includes an inter-company charge of $53 credited to PBM by the Bank during the period to compensate PBM for servicing fees on loans sold on a servicing retained basis. For the Quarter Ended March 31, 2015 (In Thousands) Provident Provident Consolidated Net interest income $ 7,023 $ 1,355 $ 8,378 Provision (recovery) for loan losses 64 (175 ) (111 ) Net interest income after provision (recovery) for loan losses 6,959 1,530 8,489 Non-interest income: Loan servicing and other fees (1) 153 111 264 (Loss) gain on sale of loans, net (2) (29 ) 9,783 9,754 Deposit account fees 607 — 607 Gain on sale and operations of real estate owned acquired in the settlement of loans, net 58 — 58 Card and processing fees 338 — 338 Other 248 — 248 Total non-interest income 1,375 9,894 11,269 Non-interest expense: Salaries and employee benefits 4,743 6,207 10,950 Premises and occupancy 679 427 1,106 Operating and administrative expenses 1,203 1,909 3,112 Total non-interest expense 6,625 8,543 15,168 Income before income taxes 1,709 2,881 4,590 Provision for income taxes 764 1,226 1,990 Net income $ 945 $ 1,655 $ 2,600 Total assets, end of period $ 906,378 $ 307,413 $ 1,213,791 (1) Includes an inter-company charge of $54 credited to PBM by the Bank during the period to compensate PBM for originating loans held for investment. (2) Includes an inter-company charge of $32 credited to PBM by the Bank during the period to compensate PBM for servicing fees on loans sold on a servicing retained basis. For the Nine Months Ended March 31, 2016 (In Thousands) Provident Provident Consolidated Net interest income $ 20,519 $ 3,048 $ 23,567 Recovery from the allowance for loan losses (1,031 ) (63 ) (1,094 ) Net interest income, after recovery from the allowance for loan losses 21,550 3,111 24,661 Non-interest income: Loan servicing and other fees (1) 458 342 800 Gain on sale of loans, net (2) 34 22,079 22,113 Deposit account fees 1,790 — 1,790 Gain (loss) on sale and operations of real estate owned acquired in the settlement of loans, net 28 (40 ) (12 ) Card and processing fees 1,069 — 1,069 Other 711 — 711 Total non-interest income 4,090 22,381 26,471 Non-interest expense: Salaries and employee benefits 13,569 17,824 31,393 Premises and occupancy 2,164 1,260 3,424 Operating and administrative expenses 3,467 4,420 7,887 Total non-interest expense 19,200 23,504 42,704 Income before income taxes 6,440 1,988 8,428 Provision for income taxes 2,673 836 3,509 Net income $ 3,767 $ 1,152 $ 4,919 Total assets, end of period $ 989,538 $ 184,213 $ 1,173,751 (1) Includes an inter-company charge of $303 credited to PBM by the Bank during the period to compensate PBM for originating loans held for investment. (2) Includes an inter-company charge of $352 credited to PBM by the Bank during the period to compensate PBM for servicing fees on loans sold on a servicing retained basis. For the Nine Months Ended March 31, 2015 (In Thousands) Provident Provident Consolidated Net interest income $ 20,843 $ 3,582 $ 24,425 Recovery from the allowance for loan losses (1,199 ) (84 ) (1,283 ) Net interest income, after recovery from the allowance for loan losses 22,042 3,666 25,708 Non-interest income: Loan servicing and other fees (1) 246 577 823 Gain on sale of loans, net (2) 117 25,331 25,448 Deposit account fees 1,837 — 1,837 Loss on sale and operations of real estate owned acquired in the settlement of loans, net (11 ) (1 ) (12 ) Card and processing fees 1,030 — 1,030 Other 750 — 750 Total non-interest income 3,969 25,907 29,876 Non-interest expense: Salaries and employee benefits 13,538 16,943 30,481 Premises and occupancy 2,267 1,337 3,604 Operating and administrative expenses 3,452 5,282 8,734 Total non-interest expense 19,257 23,562 42,819 Income before income taxes 6,754 6,011 12,765 Provision for income taxes 2,919 2,528 5,447 Net income $ 3,835 $ 3,483 $ 7,318 Total assets, end of period $ 906,378 $ 307,413 $ 1,213,791 (1) Includes an inter-company charge of $356 credited to PBM by the Bank during the period to compensate PBM for originating loans held for investment. (2) Includes an inter-company charge of $107 credited to PBM by the Bank during the period to compensate PBM for servicing fees on loans sold on a servicing retained basis. |
Investment Securities
Investment Securities | 9 Months Ended |
Mar. 31, 2016 | |
Investments, Debt and Equity Securities [Abstract] | |
Investment Securities | Investment Securities The amortized cost and estimated fair value of investment securities as of March 31, 2016 and June 30, 2015 were as follows: March 31, 2016 Amortized Cost Gross Unrealized Gains Gross Unrealized (Losses) Estimated Fair Value Carrying Value (In Thousands) Held to maturity: Certificates of deposit $ 800 $ — $ — $ 800 $ 800 U.S. government sponsored enterprise MBS (1) 20,214 149 — 20,363 20,214 Total investment securities - held to maturity $ 21,014 $ 149 $ — $ 21,163 $ 21,014 Available for sale: U.S. government agency MBS $ 6,674 $ 273 $ — $ 6,947 $ 6,947 U.S. government sponsored enterprise MBS 4,219 231 — 4,450 4,450 Private issue CMO (2) 615 3 (1 ) 617 617 Common stock - community development financial institution 250 — (103 ) 147 147 Total investment securities - available for sale $ 11,758 $ 507 $ (104 ) $ 12,161 $ 12,161 Total investment securities $ 32,772 $ 656 $ (104 ) $ 33,324 $ 33,175 (1) Mortgage-Backed Securities (“MBS”). (2) Collateralized Mortgage Obligations (“CMO”). June 30, 2015 Amortized Cost Gross Unrealized Gains Gross Unrealized (Losses) Estimated Fair Value Carrying Value (In Thousands) Held to maturity: Certificates of deposit $ 800 $ — $ — $ 800 $ 800 Total investment securities - held to maturity $ 800 $ — $ — $ 800 $ 800 Available for sale: U.S. government agency MBS $ 7,613 $ 293 $ — $ 7,906 $ 7,906 U.S. government sponsored enterprise MBS 5,083 304 — 5,387 5,387 Private issue CMO 708 9 — 717 717 Common stock - community development financial institution 250 — (99 ) 151 151 Total investment securities - available for sale $ 13,654 $ 606 $ (99 ) $ 14,161 $ 14,161 Total investment securities $ 14,454 $ 606 $ (99 ) $ 14,961 $ 14,961 In the third quarters of fiscal 2016 and 2015, the Corporation received MBS principal payments of $1.1 million and $331,000 , respectively, and there were no sales of investment securities during these periods. The Corporation purchased U.S. government sponsored enterprise MBS totaling $10.6 million to be held to maturity in the third quarter of fiscal 2016 and did not purchase any investment securities in the third quarter of fiscal 2015. For the first nine months of fiscal 2016 and 2015, the Corporation received MBS principal payments of $2.4 million and $1.6 million , respectively. The Corporation purchased $20.8 million of U.S. government sponsored enterprise MBS to be held to maturity in the first nine months of fiscal 2016 and, in the first quarter of fiscal 2015, $250,000 in the common stock of a community development financial institution held as available for sale to help fulfill the Bank's Community Reinvestment Act ("CRA") obligation. The Corporation held investments with unrealized loss position of $104,000 at March 31, 2016 and $99,000 at June 30, 2015. As of March 31, 2016 Unrealized Holding Losses Unrealized Holding Losses Unrealized Holding Losses (In Thousands) Less Than 12 Months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized Description of Securities Value Losses Value Losses Value Losses Available for sale: Private issue CMO $ 104 $ 1 $ — $ — $ 104 $ 1 Common stock (1) $ 147 $ 103 $ — $ — $ 147 $ 103 Total investment securities $ 251 $ 104 $ — $ — $ 251 $ 104 As of June 30, 2015 Unrealized Holding Losses Unrealized Holding Losses Unrealized Holding Losses (In Thousands) Less Than 12 Months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized Description of Securities Value Losses Value Losses Value Losses Available for sale: Common stock (1) $ 151 $ 99 $ — $ — $ 151 $ 99 Total investment securities $ 151 $ 99 $ — $ — $ 151 $ 99 (1) Common stock of a community development financial institution. The Corporation evaluates individual investment securities quarterly for other-than-temporary declines in market value. As of March 31, 2016, the unrealized holding loss was less than 12 months. The Corporation does not believe that there are any other-than-temporary impairments on the investment securities at March 31, 2016 and 2015; therefore, no impairment losses have been recorded for the quarters and nine months ended March 31, 2016 and 2015. Contractual maturities of investment securities as of March 31, 2016 and June 30, 2015 were as follows: March 31, 2016 June 30, 2015 (In Thousands) Amortized Estimated Amortized Estimated Held to maturity: Due in one year or less $ 800 $ 800 $ 800 $ 800 Due after one through five years — — — — Due after five through ten years 20,214 20,363 — — Due after ten years — — — — Total investment securities - held to maturity $ 21,014 $ 21,163 $ 800 $ 800 Available for sale: Due in one year or less $ — $ — $ — $ — Due after one through five years — — — — Due after five through ten years — — — — Due after ten years 11,508 12,014 13,404 14,010 No stated maturity (common stock) 250 147 250 151 Total investment securities - available for sale $ 11,758 $ 12,161 $ 13,654 $ 14,161 Total investment securities $ 32,772 $ 33,324 $ 14,454 $ 14,961 |
Loans Held For Investment
Loans Held For Investment | 9 Months Ended |
Mar. 31, 2016 | |
Loans and Leases Receivable Disclosure [Abstract] | |
Loans Held For Investment | Loans Held for Investment Loans held for investment, net of fair value adjustments, consisted of the following: (In Thousands) March 31, June 30, Mortgage loans: Single-family $ 335,797 $ 365,961 Multi-family 378,871 347,020 Commercial real estate 93,384 100,897 Construction 9,679 8,191 Other 72 — Commercial business loans 452 666 Consumer loans 230 244 Total loans held for investment, gross 818,485 822,979 Undisbursed loan funds (8,648 ) (3,360 ) Advance payments of escrows 247 199 Deferred loan costs, net 3,683 3,140 Allowance for loan losses (8,200 ) (8,724 ) Total loans held for investment, net $ 805,567 $ 814,234 As of March 31, 2016, the Corporation had $10.3 million in mortgage loans that are subject to negative amortization, consisting of $7.0 million in multi-family loans, $3.1 million in single-family loans and $184,000 in commercial real estate loans. This compares to $14.1 million of negative amortization mortgage loans at June 30, 2015, consisting of $10.7 million in multi-family loans, $3.2 million in single-family loans and $227,000 in commercial real estate loans. During the third quarters and nine months of fiscal 2016 and 2015, no loan interest income was added to the negative amortization loan balance. Negative amortization involves a greater risk to the Corporation because the loan principal balance may increase by a range of 110% to 115% of the original loan amount during the period of negative amortization and because the loan payment may increase beyond the means of the borrower when loan principal amortization is required. Also, the Corporation has originated interest-only ARM loans, which typically have a fixed interest rate for the first two to five years coupled with an interest only payment, followed by a periodic adjustable rate and a fully amortizing loan payment. As of March 31, 2016 and June 30, 2015, the interest-only ARM loans were $88.0 million and $152.6 million , or 10.8% and 18.6% of loans held for investment, respectively. As of March 31, 2016, the Corporation had $4.6 million of single-family loans, 19 loans, held for investment which were originated for sale but were subsequently transferred to loans held for investment and are carried at fair value. This compares to $4.5 million of single-family loans, 13 loans, held for investment at June 30, 2015 which were originated for sale but were subsequently transferred to loans held for investment and are carried at fair value. The following table sets forth information at March 31, 2016 regarding the dollar amount of loans held for investment that are contractually repricing during the periods indicated, segregated between adjustable rate loans and fixed rate loans. Fixed-rate loans comprised 3% of loans held for investment at March 31, 2016, as compared to 4% at June 30, 2015. Adjustable rate loans having no stated repricing dates that reprice when the index they are tied to reprices (e.g. prime rate index) and checking account overdrafts are reported as repricing within one year. The table does not include any estimate of prepayments which may cause the Corporation’s actual repricing experience to differ materially from that shown. Adjustable Rate (In Thousands) Within One Year After After After Fixed Rate Total Mortgage loans: Single-family $ 257,665 $ 7,121 $ 56,836 $ 679 $ 13,496 $ 335,797 Multi-family 68,092 127,701 174,233 5,827 3,018 378,871 Commercial real estate 6,604 40,493 42,745 — 3,542 93,384 Construction 7,034 — — — 2,645 9,679 Other — — — — 72 72 Commercial business loans 114 — — — 338 452 Consumer loans 226 — — — 4 230 Total loans held for investment, gross $ 339,735 $ 175,315 $ 273,814 $ 6,506 $ 23,115 $ 818,485 The Corporation has developed an internal loan grading system to evaluate and quantify the Bank’s loans held for investment portfolio with respect to quality and risk. Management continually evaluates the credit quality of the Corporation’s loan portfolio and conducts a quarterly review of the adequacy of the allowance for loan losses using quantitative and qualitative methods. The Corporation has adopted an internal risk rating policy in which each loan is rated for credit quality with a rating of pass, special mention, substandard, doubtful or loss. The two primary components that are used during the loan review process to determine the proper allowance levels are individually evaluated allowances and collectively evaluated allowances. Quantitative loan loss factors are developed by determining the historical loss experience, expected future cash flows, discount rates and collateral fair values, among others. Qualitative loan loss factors are developed by assessing general economic indicators such as gross domestic product, retail sales, unemployment rates, employment growth, California home sales and median California home prices. The Corporation assigns individual factors for the quantitative and qualitative methods for each loan category and each internal risk rating. The Corporation categorizes all of the loans held for investment into risk categories based on relevant information about the ability of the borrower to service their debt such as current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. A description of the general characteristics of the risk grades is as follows: ▪ Pass - These loans range from minimal credit risk to average, but still acceptable, credit risk. The likelihood of loss is considered remote. ▪ Special Mention - A Special Mention asset has potential weaknesses that may be temporary or, if left uncorrected, may result in a loss. While concerns exist, the bank is currently protected and loss is considered unlikely and not imminent. ▪ Substandard - A substandard loan is inadequately protected by the current sound worth and paying capacity of the borrower or of the collateral pledged, if any. Loans so classified must have a well-defined weakness, or weaknesses, that may jeopardize the liquidation of the debt. A substandard loan is characterized by the distinct possibility that the Bank will sustain some loss if the deficiencies are not corrected. ▪ Doubtful - A doubtful loan has all of the weaknesses inherent in one classified as substandard with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of the currently existing facts, conditions and values, highly questionable and improbable. ▪ Loss - A loss loan is considered uncollectible and of such little value that continuance as an asset of the institution is not warranted. The following tables summarize gross loans held for investment, net of fair value adjustments, by loan types and risk category at the dates indicated: March 31, 2016 (In Thousands) Single-family Multi-family Commercial Real Estate Construction Other Mortgage Commercial Business Consumer Total Pass $ 319,385 $ 375,537 $ 92,465 $ 9,679 $ 72 $ 354 $ 230 $ 797,722 Special Mention 5,754 930 — — — — — 6,684 Substandard 10,658 2,404 919 — — 98 — 14,079 Total loans held for investment, gross $ 335,797 $ 378,871 $ 93,384 $ 9,679 $ 72 $ 452 $ 230 $ 818,485 June 30, 2015 (In Thousands) Single-family Multi-family Commercial Real Estate Construction Commercial Business Consumer Total Pass $ 347,301 $ 339,093 $ 98,254 $ 8,191 $ 557 $ 244 $ 793,640 Special Mention 7,766 413 — — — — 8,179 Substandard 10,894 7,514 2,643 — 109 — 21,160 Total loans held for investment, gross $ 365,961 $ 347,020 $ 100,897 $ 8,191 $ 666 $ 244 $ 822,979 The allowance for loan losses is maintained at a level sufficient to provide for estimated losses based on evaluating known and inherent risks in the loans held for investment and upon management’s continuing analysis of the factors underlying the quality of the loans held for investment. These factors include changes in the size and composition of the loans held for investment, actual loan loss experience, current economic conditions, detailed analysis of individual loans for which full collectability may not be assured, and determination of the realizable value of the collateral securing the loans. The provision (recovery) for (from) the allowance for loan losses is charged (credited) against operations on a quarterly basis, as necessary, to maintain the allowance at appropriate levels. Although management believes it uses the best information available to make such determinations, there can be no assurance that regulators, in reviewing the Corporation’s loans held for investment, will not request a significant increase in its allowance for loan losses. Future adjustments to the allowance for loan losses may be necessary and results of operations could be significantly and adversely affected as a result of economic, operating, regulatory, and other conditions beyond the Corporation’s control. Non-performing loans are charged-off to their fair market values in the period the loans, or portion thereof, are deemed uncollectible, generally after the loan becomes 150 days delinquent for real estate secured first trust deed loans and 120 days delinquent for commercial business or real estate secured second trust deed loans. For loans that were modified from their original terms, were re-underwritten and identified in the Corporation’s asset quality reports as troubled debt restructurings (“restructured loans”), the charge-off occurs when the loan becomes 90 days delinquent; and where borrowers file bankruptcy, the charge-off occurs when the loan becomes 60 days delinquent. The amount of the charge-off is determined by comparing the loan balance to the estimated fair value of the underlying collateral, less disposition costs, with the loan balance in excess of the estimated fair value charged-off against the allowance for loan losses. The allowance for loan losses for non-performing loans is determined by applying Accounting Standards Codification (“ASC”) 310 , “Receivables.” For restructured loans that are less than 90 days delinquent, the allowance for loan losses are segregated into (a) individually evaluated allowances for those loans with applicable discounted cash flow calculations still in their restructuring period, classified lower than pass, and containing an embedded loss component or (b) collectively evaluated allowances based on the aggregated pooling method. For non-performing loans less than 60 days delinquent where the borrower has filed bankruptcy, the collectively evaluated allowances are assigned based on the aggregated pooling method. For non-performing commercial real estate loans, an individually evaluated allowance is derived based on the loan's discounted cash flow fair value (for restructured loans) or collateral fair value less estimated selling costs and if the fair value is higher than the loan balance, no allowance is required. The following table summarizes the Corporation’s allowance for loan losses at March 31, 2016 and June 30, 2015: (In Thousands) March 31, 2016 June 30, 2015 Collectively evaluated for impairment: Mortgage loans: Single-family $ 5,507 $ 5,202 Multi-family 1,898 2,616 Commercial real estate 741 734 Construction 10 42 Other 1 — Commercial business loans 15 23 Consumer loans 8 9 Total collectively evaluated allowance 8,180 8,626 Individually evaluated for impairment: Mortgage loans: Single-family — 78 Commercial business loans 20 20 Total individually evaluated allowance 20 98 Total loan loss allowance $ 8,200 $ 8,724 The following table is provided to disclose additional details on the Corporation’s allowance for loan losses: For the Quarters Ended For the Nine Months Ended (Dollars in Thousands) 2016 2015 2016 2015 Allowance at beginning of period $ 8,768 $ 8,693 $ 8,724 $ 9,744 Recovery from the allowance for loan losses (694 ) (111 ) (1,094 ) (1,283 ) Recoveries: Mortgage loans: Single-family 129 226 356 499 Multi-family 53 65 167 229 Commercial real estate — — 216 — Commercial business loans — — 85 — Consumer loans 1 — 1 1 Total recoveries 183 291 825 729 Charge-offs: Mortgage loans: Single-family (57 ) (88 ) (253 ) (405 ) Commercial real estate — (73 ) — (73 ) Consumer loans — — (2 ) — Total charge-offs (57 ) (161 ) (255 ) (478 ) Net recoveries 126 130 570 251 Balance at end of period $ 8,200 $ 8,712 $ 8,200 $ 8,712 Allowance for loan losses as a percentage of gross loans held for investment 1.01 % 1.05 % 1.01 % 1.05 % Net recoveries as a percentage of average loans receivable, net, during the period (annualized) (0.05 )% (0.05 )% (0.08 )% (0.04 )% Allowance for loan losses as a percentage of gross non-performing loans at the end of the period 62.31 % 79.74 % 62.31 % 79.74 % The following tables denote the past due status of the Corporation's gross loans held for investment, net of fair value adjustments, at the dates indicated. March 31, 2016 (In Thousands) Current 30-89 Days Past Due Non-Accrual (1) Total Loans Held for Investment Mortgage loans: Single-family $ 323,632 $ 1,508 $ 10,657 $ 335,797 Multi-family 376,467 — 2,404 378,871 Commercial real estate 93,384 — — 93,384 Construction 9,679 — — 9,679 Other 72 — — 72 Commercial business loans 354 — 98 452 Consumer loans 230 — — 230 Total loans held for investment, gross $ 803,818 $ 1,508 $ 13,159 $ 818,485 (1) All loans 90 days or greater past due are placed on non-accrual status. June 30, 2015 (In Thousands) Current 30-89 Days Past Due Non-Accrual (1) Total Loans Held for Investment Mortgage loans: Single-family $ 354,082 $ 1,335 $ 10,544 $ 365,961 Multi-family 344,774 — 2,246 347,020 Commercial real estate 99,198 — 1,699 100,897 Construction 8,191 — — 8,191 Commercial business loans 557 — 109 666 Consumer loans 244 — — 244 Total loans held for investment, gross $ 807,046 $ 1,335 $ 14,598 $ 822,979 (1) All loans 90 days or greater past due are placed on non-accrual status. The following tables summarize the Corporation’s allowance for loan losses and recorded investment in gross loans, by portfolio type, at the dates and for the periods indicated. Quarter Ended March 31, 2016 (In Thousands) Single-family Multi-family Commercial Real Estate Construction Other Mortgage Commercial Business Consumer Total Allowance for loan losses: Allowance at beginning of period $ 5,720 $ 1,919 $ 778 $ 304 $ 1 $ 37 $ 9 $ 8,768 Recovery from the allowance for loan losses (285 ) (74 ) (37 ) (294 ) — (2 ) (2 ) (694 ) Recoveries 129 53 — — — — 1 183 Charge-offs (57 ) — — — — — — (57 ) Allowance for loan losses, end of period $ 5,507 $ 1,898 $ 741 $ 10 $ 1 $ 35 $ 8 $ 8,200 Allowance for loan losses: Individually evaluated for impairment $ — $ — $ — $ — $ — $ 20 $ — $ 20 Collectively evaluated for impairment 5,507 1,898 741 10 1 15 8 8,180 Allowance for loan losses, end of period $ 5,507 $ 1,898 $ 741 $ 10 $ 1 $ 35 $ 8 $ 8,200 Loans held for investment: Individually evaluated for impairment $ 7,638 $ 1,933 $ — $ — $ — $ 98 $ — $ 9,669 Collectively evaluated for impairment 328,159 376,938 93,384 9,679 72 354 230 808,816 Total loans held for investment, gross $ 335,797 $ 378,871 $ 93,384 $ 9,679 $ 72 $ 452 $ 230 $ 818,485 Allowance for loan losses as a percentage of gross loans held for investment 1.64 % 0.50 % 0.79 % 0.10 % 1.39 % 7.74 % 3.48 % 1.01 % Quarter Ended March 31, 2015 (In Thousands) Single-family Multi-family Commercial Real Estate Construction Commercial Business Consumer Total Allowance for loan losses: Allowance at beginning of period $ 4,540 $ 2,998 $ 1,075 $ 17 $ 53 $ 10 $ 8,693 Provision (recovery) for loan losses 102 26 (238 ) 10 (10 ) (1 ) (111 ) Recoveries 226 65 — — — — 291 Charge-offs (88 ) — (73 ) — — — (161 ) Allowance for loan losses, end of period $ 4,780 $ 3,089 $ 764 $ 27 $ 43 $ 9 $ 8,712 Allowance for loan losses: Individually evaluated for impairment $ — $ — $ — $ — $ 20 $ — $ 20 Collectively evaluated for impairment 4,780 3,089 764 27 23 9 8,692 Allowance for loan losses, end of period $ 4,780 $ 3,089 $ 764 $ 27 $ 43 $ 9 $ 8,712 Loans held for investment: Individually evaluated for impairment $ 5,651 $ 1,982 $ 1,468 $ — $ 110 $ — $ 9,211 Collectively evaluated for impairment 369,330 342,295 100,150 6,039 542 246 818,602 Total loans held for investment, gross $ 374,981 $ 344,277 $ 101,618 $ 6,039 $ 652 $ 246 $ 827,813 Allowance for loan losses as a percentage of gross loans held for investment 1.27 % 0.90 % 0.75 % 0.45 % 6.60 % 3.66 % 1.05 % Nine Months Ended March 31, 2016 (In Thousands) Single-family Multi-family Commercial Real Estate Construction Other Mortgage Commercial Business Consumer Total Allowance for loan losses: Allowance at beginning of period $ 5,280 $ 2,616 $ 734 $ 42 $ — $ 43 $ 9 $ 8,724 Provision (recovery) for loan losses 124 (885 ) (209 ) (32 ) 1 (93 ) — (1,094 ) Recoveries 356 167 216 — — 85 1 825 Charge-offs (253 ) — — — — — (2 ) (255 ) Allowance for loan losses, end of period $ 5,507 $ 1,898 $ 741 $ 10 $ 1 $ 35 $ 8 $ 8,200 Allowance for loan losses: Individually evaluated for impairment $ — $ — $ — $ — $ — $ 20 $ — $ 20 Collectively evaluated for impairment 5,507 1,898 741 10 1 15 8 8,180 Allowance for loan losses, end of period $ 5,507 $ 1,898 $ 741 $ 10 $ 1 $ 35 $ 8 $ 8,200 Loans held for investment: Individually evaluated for impairment $ 7,638 $ 1,933 $ — $ — $ — $ 98 $ — $ 9,669 Collectively evaluated for impairment 328,159 376,938 93,384 9,679 72 354 230 808,816 Total loans held for investment, gross $ 335,797 $ 378,871 $ 93,384 $ 9,679 $ 72 $ 452 $ 230 $ 818,485 Allowance for loan losses as a percentage of gross loans held for investment 1.64 % 0.50 % 0.79 % 0.10 % 1.39 % 7.74 % 3.48 % 1.01 % Nine Months Ended March 31, 2015 (In Thousands) Single-family Multi-family Commercial Real Estate Construction Commercial Business Consumer Total Allowance for loan losses: Allowance at beginning of period $ 5,476 $ 3,142 $ 989 $ 35 $ 92 $ 10 $ 9,744 Recovery from the allowance for loan (790 ) (282 ) (152 ) (8 ) (49 ) (2 ) (1,283 ) Recoveries 499 229 — — — 1 729 Charge-offs (405 ) — (73 ) — — — (478 ) Allowance for loan losses, end of period $ 4,780 $ 3,089 $ 764 $ 27 $ 43 $ 9 $ 8,712 Allowance for loan losses: Individually evaluated for impairment $ — $ — $ — $ — $ 20 $ — $ 20 Collectively evaluated for impairment 4,780 3,089 764 27 23 9 8,692 Allowance for loan losses, end of period $ 4,780 $ 3,089 $ 764 $ 27 $ 43 $ 9 $ 8,712 Loans held for investment: Individually evaluated for impairment $ 5,651 $ 1,982 $ 1,468 $ — $ 110 $ — $ 9,211 Collectively evaluated for impairment 369,330 342,295 100,150 6,039 542 246 818,602 Total loans held for investment, gross $ 374,981 $ 344,277 $ 101,618 $ 6,039 $ 652 $ 246 $ 827,813 Allowance for loan losses as a percentage of gross loans held for investment 1.27 % 0.90 % 0.75 % 0.45 % 6.60 % 3.66 % 1.05 % The following tables identify the Corporation’s total recorded investment in non-performing loans by type at the dates and for the periods indicated. Generally, a loan is placed on non-accrual status when it becomes 90 days past due as to principal or interest or if the loan is deemed impaired, after considering economic and business conditions and collection efforts, where the borrower’s financial condition is such that collection of the contractual principal or interest on the loan is doubtful. In addition, interest income is not recognized on any loan where management has determined that collection is not reasonably assured. A non-performing loan may be restored to accrual status when delinquent principal and interest payments are brought current and future monthly principal and interest payments are expected to be collected on a timely basis. Loans with a related allowance reserve have been individually evaluated for impairment using either a discounted cash flow analysis or, for collateral dependent loans, current appraisals less costs to sell, to establish realizable value. This analysis may identify a specific impairment amount needed or may conclude that no reserve is needed. Loans that are not individually evaluated for impairment are included in pools of homogeneous loans for evaluation of related allowance reserves. At March 31, 2016 Unpaid Net Principal Related Recorded Recorded (In Thousands) Balance Charge-offs Investment Allowance (1) Investment Mortgage loans: Single-family: With a related allowance $ 3,058 $ — $ 3,058 $ (776 ) $ 2,282 Without a related allowance (2) 9,218 (1,580 ) 7,638 — 7,638 Total single-family 12,276 (1,580 ) 10,696 (776 ) 9,920 Multi-family: With a related allowance 471 — 471 (141 ) 330 Without a related allowance (2) 3,025 (1,092 ) 1,933 — 1,933 Total multi-family 3,496 (1,092 ) 2,404 (141 ) 2,263 Commercial business loans: With a related allowance 98 — 98 (20 ) 78 Total commercial business loans 98 — 98 (20 ) 78 Total non-performing loans $ 15,870 $ (2,672 ) $ 13,198 $ (937 ) $ 12,261 (1) Consists of collectively and individually evaluated allowances, specifically assigned to the individual loan, and fair value credit adjustments. (2) There was no related allowance for loan losses because the loans have been charged-off to their fair value or the fair value of the collateral is higher than the loan balance. At June 30, 2015 Unpaid Net Principal Related Recorded Recorded (In Thousands) Balance Charge-offs Investment Allowance (1) Investment Mortgage loans: Single-family: With a related allowance $ 3,881 $ — $ 3,881 $ (630 ) $ 3,251 Without a related allowance (2) 8,462 (1,801 ) 6,661 — 6,661 Total single-family 12,343 (1,801 ) 10,542 (630 ) 9,912 Multi-family: Without a related allowance (2) 3,506 (1,260 ) 2,246 — 2,246 Total multi-family 3,506 (1,260 ) 2,246 — 2,246 Commercial real estate: Without a related allowance (2) 1,699 — 1,699 — 1,699 Total commercial real estate 1,699 — 1,699 — 1,699 Commercial business loans: With a related allowance 109 — 109 (20 ) 89 Total commercial business loans 109 — 109 (20 ) 89 Total non-performing loans $ 17,657 $ (3,061 ) $ 14,596 $ (650 ) $ 13,946 (1) Consists of collectively and individually evaluated allowances, specifically assigned to the individual loan. (2) There was no related allowance for loan losses because the loans have been charged-off to their fair value or the fair value of the collateral is higher than the loan balance. At March 31, 2016 and June 30, 2015, there were no commitments to lend additional funds to those borrowers whose loans were classified as non-performing. For the quarters ended March 31, 2016 and 2015, the Corporation’s average investment in non-performing loans was $12.8 million and $11.3 million , respectively. The Corporation records payments on non-performing loans utilizing the cash basis or cost recovery method of accounting during the periods when the loans are on non-performing status. For both quarters ended March 31, 2016 and 2015, interest income of $50,000 was recognized, based on cash receipts from loan payments on non-performing loans and $125,000 was collected and applied to the net loan balances under the cost recovery method. Foregone interest income, which would have been recorded had the non-performing loans been current in accordance with their original terms, amounted to $19,000 and $87,000 for the quarters ended March 31, 2016 and 2015, respectively, and was not included in the results of operations. For the nine months ended March 31, 2016 and 2015, the Corporation’s average investment in non-performing loans was $14.0 million and $13.2 million , respectively. For the nine months ended March 31, 2016 and 2015, interest income of $187,000 and $255,000 , respectively, was recognized, based on cash receipts from loan payments on non-performing loans; and $314,000 and $361,000 , respectively, was collected and applied to the net loan balances under the cost recovery method. Foregone interest income, which would have been recorded had the non-performing loans been current in accordance with their original terms, amounted to $123,000 and $292,000 for the nine months ended March 31, 2016 and 2015, respectively, and was not included in the results of operations. The following table presents the average recorded investment in non-performing loans and the related interest income recognized for the quarters and nine months ended March 31, 2016 and 2015: Quarter Ended March 31, 2016 2015 Average Interest Average Interest Recorded Income Recorded Income Investment Recognized Investment Recognized Without related allowances: Mortgage loans: Single-family $ 7,870 $ 19 $ 5,827 $ 19 Multi-family 1,941 — 1,988 — Commercial real estate — — 1,487 21 9,811 19 9,302 40 With related allowances: Mortgage loans: Single-family 2,529 22 1,619 8 Multi-family 314 7 259 — Commercial business loans 98 2 116 2 2,941 31 1,994 10 Total $ 12,752 $ 50 $ 11,296 $ 50 Nine Months Ended March 31, 2016 2015 Average Interest Average Interest Recorded Income Recorded Income Investment Recognized Investment Recognized Without related allowances: Mortgage loans: Single-family $ 8,544 $ 22 $ 6,813 $ 53 Multi-family 1,988 66 2,094 — Commercial real estate 666 28 1,926 146 11,198 116 10,833 199 With related allowances: Mortgage loans: Single-family 2,594 58 1,872 36 Multi-family 105 7 417 13 Commercial business loans 102 6 124 7 2,801 71 2,413 56 Total $ 13,999 $ 187 $ 13,246 $ 255 For the quarters and nine months ended March 31, 2016 and 2015, there were no loans that were newly modified from their original terms, re-underwritten or identified in the Corporation’s asset quality reports as restructured loans. During the quarters and nine months ended March 31, 2016 and 2015, no restructured loans were in default within a 12-month period subsequent to their original restructuring. Additionally, during the quarters and nine months ended March 31, 2016 and 2015, there were no loans whose modification was extended beyond the initial maturity of the modification. At March 31, 2016 and June 30, 2015, there were no commitments to lend additional funds to those borrowers whose loans were restructured. As of March 31, 2016, the Corporation held 14 restructured loans with a net outstanding balance of $5.7 million : two were classified as special mention and remain on accrual status ( $1.1 million ); and 12 were classified as substandard ( $4.6 million , all on non-accrual status). As of June 30, 2015, the Corporation held 18 restructured loans with a net outstanding balance of $6.6 million : two were classified as special mention on accrual status ( $989,000 ); and 16 were classified as substandard ( $5.6 million , all on non-accrual status). Substandard assets have one or more defined weaknesses and are characterized by the distinct possibility that the Corporation will sustain some loss if the deficiencies are not corrected. Assets that do not currently expose the Corporation to sufficient risk to warrant adverse classification but possess weaknesses are designated as special mention and are closely monitored by the Corporation. As of March 31, 2016 and June 30, 2015, $2.9 million or 50% , and $4.9 million or 74% , respectively, of the restructured loans were current with respect to their modified payment terms. The Corporation upgrades restructured single-family loans to the pass category if the borrower has demonstrated satisfactory contractual payments for at least six consecutive months; 12 months for those loans that were restructured more than once; and if the borrower has demonstrated satisfactory contractual payments beyond 12 consecutive months, the loan is no longer categorized as a restructured loan. In addition to the payment history described above, multi-family, commercial real estate, construction and commercial business loans (which are sometimes referred to in this report as “preferred loans”) must also demonstrate a combination of the following characteristics to be upgraded: satisfactory cash flow, satisfactory guarantor support, and additional collateral support, among others. To qualify for restructuring, a borrower must provide evidence of their creditworthiness such as, current financial statements, their most recent income tax returns, current paystubs, current W-2s, and most recent bank statements, among other documents, which are then verified by the Corporation. The Corporation re-underwrites the loan with the borrower’s updated financial information, new credit report, current loan balance, new interest rate, remaining loan term, updated property value and modified payment schedule, among other considerations, to determine if the borrower qualifies. The following table summarizes at the dates indicated the restructured loan balances, net of allowance for loan losses, by loan type and non-accrual versus accrual status: (In Thousands) March 31, 2016 June 30, 2015 Restructured loans on non-accrual status: Mortgage loans: Single-family $ 3,002 $ 2,902 Multi-family 1,542 1,593 Commercial real estate — 1,019 Commercial business loans 78 89 Total 4,622 5,603 Restructured loans on accrual status: Mortgage loans: Single-family 1,114 989 Total 1,114 989 Total restructured loans $ 5,736 $ 6,592 The following tables identify the Corporation’s total recorded investment in restructured loans by type at the dates and for the periods indicated. At March 31, 2016 Unpaid Net Principal Related Recorded Recorded (In Thousands) Balance Charge-offs Investment Allowance (1) Investment Mortgage loans: Single-family: With a related allowance $ 1,227 $ — $ 1,227 $ (245 ) $ 982 Without a related allowance (2) 3,929 (795 ) 3,134 — 3,134 Total single-family 5,156 (795 ) 4,361 (245 ) 4,116 Multi-family: Without a related allowance (2) 2,597 (1,055 ) 1,542 — 1,542 Total multi-family 2,597 (1,055 ) 1,542 — 1,542 Commercial business loans: With a related allowance 98 — 98 (20 ) 78 Total commercial business loans 98 — 98 (20 ) 78 Total restructured loans $ 7,851 $ (1,850 ) $ 6,001 $ (265 ) $ 5,736 (1) Consists of collectively and individually evaluated allowances, specifically assigned to the individual loan. (2) There was no related allowance for loan losses because the loans have been charged-off to their fair value or the fair value of the collateral is higher than the loan balance. At June 30, 2015 Unpaid Net Principal Related Recorded Recorded (In Thousands) Balance Charge-offs Investment Allowance (1) Investment Mortgage loans: Single-family With a related allowance $ 576 $ — $ 576 $ (115 ) $ 461 Without a related allowance (2) 4,397 (967 ) 3,430 — 3,430 Total single-family 4,973 (967 ) 4,006 (115 ) 3,891 Multi-family: Without a related allowance (2) 2,795 (1,202 ) 1,593 — 1,593 Total multi-family 2,795 (1,202 ) 1,593 — 1,593 Commercial real estate: Without a related allowance (2) 1,019 — 1,019 — 1,019 Total commercial real estate 1,019 — 1,019 — 1,019 Commercial business loans: With a related allowance 109 — 109 (20 ) 89 Total commercial business loans 109 — 109 (20 ) 89 Total restructured loans $ 8,896 $ (2,169 ) $ 6,727 $ (135 ) $ 6,592 (1) Consists of collectively and individually evaluated allowances, specifically assigned to the individual loan. (2) There was no related allowance for loan losses because the loans have been charged-off to their fair value or the fair value of the collateral is higher than the loan balance. During the quarter ended March 31, 2016, two properties were acquired in the settlement of loans, while three previously foreclosed upon properties were sold. This compares to the quarter ended March 31, 2015 when one property was acquired in the settlement of loans, while two previously foreclosed upon properties were sold. For the nine months ended March 31, 2016, eight properties were acquired in the settlement of loans, while six previously foreclosed upon properties were sold. This compares to the nine months ended March 31, 2015 when eight properties were acquired in the settlement of loans, while six previously foreclosed upon properties were sold and one real estate owned property was written off. As of March 31, 2016, the net fair value of real estate owned was $3.2 million , comprised of four properties located in Southern California and one property located in Arizona. This compares to the real estate owned net fair value of $2.4 million at June 30, 2015, comprised of two properties located in California and one property located in Nevada. A new appraisal was obtained on each of the properties at the time of foreclosure and fair value was derived by using the lower of the appraised value or the listing price of the property, net of selling costs. Any initial loss was recorded as a charge to the allowance for loan losses before being transferred to real estate owned. Subsequent to transfer to real estate owned, if there is further deterioration in real estate values, specific real estate owned loss reserves are established and charged to the statemen |
Derivative and Other Financial
Derivative and Other Financial Instruments with Off-Balance Sheet Risks | 9 Months Ended |
Mar. 31, 2016 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative and Other Financial Instruments with Off-Balance Sheet Risks | Derivative and Other Financial Instruments with Off-Balance Sheet Risks The Corporation is a party to financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit in the form of originating loans or providing funds under existing lines of credit, loan sale commitments to third parties and option contracts. These instruments involve, to varying degrees, elements of credit and interest-rate risk in excess of the amount recognized in the accompanying Condensed Consolidated Statements of Financial Condition. The Corporation’s exposure to credit loss, in the event of non-performance by the counterparty to these financial instruments, is represented by the contractual amount of these instruments. The Corporation uses the same credit policies in entering into financial instruments with off-balance sheet risk as it does for on-balance sheet instruments. As of March 31, 2016 and June 30, 2015, the Corporation had commitments to extend credit (on loans to be held for investment and loans to be held for sale) of $161.3 million and $144.3 million , respectively. The following table provides information at the dates indicated regarding undisbursed funds to borrowers on existing lines of credit with the Corporation as well as commitments to originate loans to be held for investment at the dates indicated below. Commitments March 31, 2016 June 30, 2015 (In Thousands) Undisbursed loan funds - Construction loans $ 8,648 $ 3,359 Undisbursed lines of credit – Mortgage loans 20 414 Undisbursed lines of credit – Commercial business loans 857 822 Undisbursed lines of credit – Consumer loans 678 708 Commitments to extend credit on loans to be held for investment 5,684 4,745 Total $ 15,887 $ 10,048 In accordance with ASC 815, “Derivatives and Hedging,” and interpretations of the Derivatives Implementation Group of the FASB, the fair value of the commitments to extend credit on loans to be held for sale, loan sale commitments, to be announced (“TBA”) MBS trades, put option contracts and call option contracts are recorded at fair value on the Condensed Consolidated Statements of Financial Condition. At March 31, 2016, $3.0 million was included in other assets and $1.7 million was included in other liabilities; at June 30, 2015, $2.6 million was included in other assets and $208,000 was included in other liabilities. The Corporation does not apply hedge accounting to its derivative financial instruments; therefore, all changes in fair value are recorded in earnings. The following table provides information regarding the allowance for loan losses for the undisbursed funds and commitments to extend credit on loans to be held for investment for the quarters and nine months ended March 31, 2016 and 2015. For the Quarters For the Nine Months (In Thousands) 2016 2015 2016 2015 Balance, beginning of the period $ 149 $ 81 $ 76 $ 61 Provision (recovery) 4 (2 ) 77 18 Balance, end of the period $ 153 $ 79 $ 153 $ 79 The net impact of derivative financial instruments on the gain on sale of loans contained in the Condensed Consolidated Statements of Operations during the quarters and nine months ended March 31, 2016 and 2015 was as follows: For the Quarters For the Nine Months Derivative Financial Instruments 2016 2015 2016 2015 (In Thousands) Commitments to extend credit on loans to be held for sale $ 1,866 $ 2,174 $ 1,537 $ 1,737 Mandatory loan sale commitments and TBA MBS trades (1,435 ) (1,112 ) (2,531 ) (1,789 ) Option contracts, net 85 (31 ) (87 ) (193 ) Total net gain (loss) $ 516 $ 1,031 $ (1,081 ) $ (245 ) The outstanding derivative financial instruments and other loan sale agreements at the dates indicated were as follows: March 31, 2016 June 30, 2015 Derivative Financial Instruments Amount Fair Amount Fair (In Thousands) Commitments to extend credit on loans to be held for sale (1) $ 155,615 $ 3,036 $ 139,565 $ 1,499 Best efforts loan sale commitments (37,994 ) — (36,908 ) — Mandatory loan sale commitments and TBA MBS trades (270,007 ) (1,790 ) (320,197 ) 741 Option contracts, net (4,000 ) 24 4,000 192 Total $ (156,386 ) $ 1,270 $ (213,540 ) $ 2,432 (1) Net of 31.3% at March 31, 2016 and 26.9% at June 30, 2015 of commitments which management has estimated may not fund. |
Fair Value of Financial Instrum
Fair Value of Financial Instruments | 9 Months Ended |
Mar. 31, 2016 | |
Fair Value Disclosures [Abstract] | |
Fair Value of Financial Instruments | Fair Value of Financial Instruments The Corporation adopted ASC 820, “Fair Value Measurements and Disclosures,” and elected the fair value option pursuant to ASC 825, “Financial Instruments” on loans originated for sale by PBM. ASC 820 defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements. ASC 825 permits entities to elect to measure many financial instruments and certain other assets and liabilities at fair value on an instrument-by-instrument basis (the “Fair Value Option”) at specified election dates. At each subsequent reporting date, an entity is required to report unrealized gains and losses on items in earnings for which the fair value option has been elected. The objective of the Fair Value Option is to improve financial reporting by providing entities with the opportunity to mitigate volatility in reported earnings caused by measuring related assets and liabilities differently without having to apply complex hedge accounting provisions. The following table describes the difference at the dates indicated between the aggregate fair value and the aggregate unpaid principal balance of loans held for investment at fair value and loans held for sale at fair value: (In Thousands) Aggregate Fair Value Aggregate Unpaid Principal Balance Net Unrealized (Loss) Gain As of March 31, 2016: Loans held for investment, at fair value $ 4,583 $ 4,708 $ (125 ) Loans held for sale, at fair value $ 184,025 $ 177,088 $ 6,937 As of June 30, 2015: Loans held for investment, at fair value $ 4,518 $ 4,495 $ 23 Loans held for sale, at fair value $ 224,715 $ 219,143 $ 5,572 ASC 820-10-65-4, “Determining Fair Value When the Volume and Level of Activity for the Asset or Liability Have Significantly Decreased and Identifying Transactions That Are Not Orderly,” provides additional guidance for estimating fair value in accordance with ASC 820, “Fair Value Measurements,” when the volume and level of activity for the asset or liability have significantly decreased. ASC 820 establishes a three-level valuation hierarchy that prioritizes inputs to valuation techniques used in fair value calculations. The three levels of inputs are defined as follows: Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities that the Corporation has the ability to access at the measurement date. Level 2 - Observable inputs other than Level 1 such as: quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, or other inputs that are observable or can be corroborated to observable market data for substantially the full term of the asset or liability. Level 3 - Unobservable inputs for the asset or liability that use significant assumptions, including assumptions of risks. These unobservable assumptions reflect the Corporation’s estimate of assumptions that market participants would use in pricing the asset or liability. Valuation techniques include the use of pricing models, discounted cash flow models and similar techniques. ASC 820 requires the Corporation to maximize the use of observable inputs and minimize the use of unobservable inputs. If a financial instrument uses inputs that fall in different levels of the hierarchy, the instrument will be categorized based upon the lowest level of input that is significant to the fair value calculation. The Corporation’s financial assets and liabilities measured at fair value on a recurring basis consist of investment securities available for sale, loans held for investment at fair value, loans held for sale at fair value, interest-only strips and derivative financial instruments; while non-performing loans, mortgage servicing assets ("MSA") and real estate owned are measured at fair value on a nonrecurring basis. Investment securities - available for sale are primarily comprised of U.S. government agency MBS, U.S. government sponsored enterprise MBS, privately issued CMO and common stock of a community development financial institution. The Corporation utilizes quoted prices in active and less than active markets for similar securities for its fair value measurement of MBS and debt securities (Level 2), broker price indications for similar securities in non-active markets for its fair value measurement of the CMO (Level 3) and a relative value analysis for the common stock (Level 3) and, most recently for the common stock, based on the price per share to be received in its pending merger in the event the merger were to close as proposed (Level 2). Derivative financial instruments are comprised of commitments to extend credit on loans to be held for sale, mandatory loan sale commitments, TBA MBS trades and option contracts. The fair value of TBA MBS trades is determined using quoted secondary-market prices (Level 2). The fair values of other derivative financial instruments are determined by quoted prices for a similar commitment or commitments, adjusted for the specific attributes of each commitment (Level 3). Loans held for investment at fair value are primarily single-family loans which have been transferred from loans held for sale. The fair value is determined by the quoted secondary-market prices which account for interest rate characteristics, adjusted for management estimates of the specific credit risk attributes of each loan (Level 3). Loans held for sale at fair value are primarily single-family loans. The fair value is determined, when possible, using quoted secondary-market prices such as mandatory loan sale commitments. If no such quoted price exists, the fair value of a loan is determined by quoted prices for a similar loan or loans, adjusted for the specific attributes of each loan (Level 2). Non-performing loans are loans which are inadequately protected by the current net worth and paying capacity of the borrowers or of the collateral pledged. The non-performing loans are characterized by the distinct possibility that the Corporation will sustain some loss if the deficiencies are not corrected. The fair value of a non-performing loan is determined based on an observable market price or current appraised value of the underlying collateral. Appraised and reported values may be discounted based on management’s historical knowledge, changes in market conditions from the time of valuation, and/or management’s expertise and knowledge of the borrower. For non-performing loans which are restructured loans, the fair value is derived from discounted cash flow analysis (Level 3), except those which are in the process of foreclosure or 90 days delinquent for which the fair value is derived from the appraised value of its collateral (Level 2). For other non-performing loans which are not restructured loans, other than non-performing commercial real estate loans, the fair value is derived from relative value analysis: historical experience and management estimates by loan type for which collectively evaluated allowances are assigned (Level 3); or the appraised value of its collateral for loans which are in the process of foreclosure or where borrowers file bankruptcy (Level 2). For non-performing commercial real estate loans, the fair value is derived from the appraised value of its collateral (Level 2). Non-performing loans are reviewed and evaluated on at least a quarterly basis for additional allowance and adjusted accordingly, based on the same factors identified above. This loss is not recorded directly as an adjustment to current earnings or other comprehensive income (loss), but rather as a component in determining the overall adequacy of the allowance for loan losses. These adjustments to the estimated fair value of non-performing loans may result in increases or decreases to the provision for loan losses recorded in current earnings. The Corporation uses the amortization method for its MSA, which amortizes the MSA in proportion to and over the period of estimated net servicing income and assesses the MSA for impairment based on fair value at each reporting date. The fair value of MSA is derived using the present value method; which includes a third party’s prepayment projections of similar instruments, weighted-average coupon rates and the estimated average life (Level 3). The rights to future income from serviced loans that exceed contractually specified servicing fees are recorded as interest-only strips. The fair value of interest-only strips is derived using the same assumptions that are used to value the related MSA (Level 3). The fair value of real estate owned is derived from the lower of the appraised value or the listing price, net of estimated selling costs (Level 2). The Corporation’s valuation methodologies may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. While management believes the Corporation’s valuation methodologies are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different estimate of fair value at the reporting date. The following fair value hierarchy tables present information at the dates indicated about the Corporation’s assets measured at fair value on a recurring basis: Fair Value Measurement at March 31, 2016 Using: (In Thousands) Level 1 Level 2 Level 3 Total Assets: Investment securities - available for sale: U.S. government agency MBS $ — $ 6,947 $ — $ 6,947 U.S. government sponsored enterprise MBS — 4,450 — 4,450 Private issue CMO — — 617 617 Common stock - community development financial institution — 147 — 147 Investment securities - available for sale — 11,544 617 12,161 Loans held for investment, at fair value — — 4,583 4,583 Loans held for sale, at fair value — 184,025 — 184,025 Interest-only strips — — 50 50 Derivative assets: Commitments to extend credit on loans to be held for sale — — 3,037 3,037 Option contracts — — 24 24 Derivative assets — — 3,061 3,061 Total assets $ — $ 195,569 $ 8,311 $ 203,880 Liabilities: Derivative liabilities: Commitments to extend credit on loans to be held for sale $ — $ — $ 1 $ 1 Mandatory loan sale commitments — — 125 125 TBA MBS trades — 1,665 — 1,665 Derivative liabilities — 1,665 126 1,791 Total liabilities $ — $ 1,665 $ 126 $ 1,791 Fair Value Measurement at June 30, 2015 Using: (In Thousands) Level 1 Level 2 Level 3 Total Assets: Investment securities - available for sale: U.S. government agency MBS $ — $ 7,906 $ — $ 7,906 U.S. government sponsored enterprise MBS — 5,387 — 5,387 Private issue CMO — — 717 717 Common stock - community development financial institution — — 151 151 Investment securities - available for sale — 13,293 868 14,161 Loans held for investment, at fair value — 4,518 — 4,518 Loans held for sale, at fair value — 224,715 — 224,715 Interest-only strips — — 63 63 Derivative assets: Commitments to extend credit on loans to be held for sale — — 1,636 1,636 TBA MBS trades — 812 — 812 Option contracts — — 192 192 Derivative assets — 812 1,828 2,640 Total assets $ — $ 243,338 $ 2,759 $ 246,097 Liabilities: Derivative liabilities: Commitments to extend credit on loans to be held for sale $ — $ — $ 137 $ 137 Mandatory loan sale commitments — — 71 71 Derivative liabilities — — 208 208 Total liabilities $ — $ — $ 208 $ 208 The following tables summarize reconciliations of the beginning and ending balances during the periods shown of recurring fair value measurements recognized in the Condensed Consolidated Statements of Financial Condition using Level 3 inputs: For the Quarter Ended March 31, 2016 Fair Value Measurement Using Significant Other Unobservable Inputs (Level 3) (In Thousands) Private Issue CMO Common stock (1) Loans Held For Investment, at fair value (2) Interest- Only Strips Loan Commit- ments to Originate (3) Manda- tory Commit- ments (4) Option Contracts Total Beginning balance at December 31, 2015 $ 654 $ 143 $ 4,210 $ 54 $ 1,170 $ (51 ) $ 24 $ 6,204 Total gains or losses (realized/ unrealized): Included in earnings — — 59 — 1,866 (105 ) 85 1,905 Included in other comprehensive income (loss) (5 ) 4 — (4 ) — — — (5 ) Purchases — — — — — — 82 82 Issuances — — — — — — — — Settlements (32 ) — (1,165 ) — — 31 (167 ) (1,333 ) Transfers in and/or out of Level 3 — (147 ) 1,479 — — — — 1,332 Ending balance at March 31, 2016 $ 617 $ — $ 4,583 $ 50 $ 3,036 $ (125 ) $ 24 $ 8,185 (1) Common stock of a community development financial institution. (2) The valuation of loans held for investment at fair value includes the management estimates of the specific credit risk attributes of each loan (Level 3), in addition to the quoted secondary-market prices which account for interest rate characteristics. (3) Consists of commitments to extend credit on loans to be held for sale. (4) Consists of mandatory loan sale commitments. For the Quarter Ended March 31, 2015 Fair Value Measurement Using Significant Other Unobservable Inputs (Level 3) (In Thousands) Private Issue CMO Common stock (1) Interest- Only Strips Loan Commit- ments to Originate (2) Manda- tory Commit- ments (3) Option Contracts Total Beginning balance at December 31, 2014 $ 799 $ 250 $ 64 $ 2,129 $ (86 ) $ 110 $ 3,266 Total gains or losses (realized/unrealized): Included in earnings — — — 2,174 (296 ) (31 ) 1,847 Included in other comprehensive (loss) income (2 ) — (1 ) — — — (3 ) Purchases — — — — — 368 368 Issuances — — — — — — — Settlements (21 ) — — — 20 (210 ) (211 ) Transfers in and/or out of Level 3 — — — — — — — Ending balance at March 31, 2015 $ 776 $ 250 $ 63 $ 4,303 $ (362 ) $ 237 $ 5,267 (1) Common stock of a community development financial institution. (2) Consists of commitments to extend credit on loans to be held for sale. (3) Consists of mandatory loan sale commitments. For the Nine Months Ended March 31, 2016 Fair Value Measurement Using Significant Other Unobservable Inputs (Level 3) (In Thousands) Private Issue CMO Common stock (1) Loans Held For Investment, at fair value (2) Interest- Only Strips Loan Commit- ments to Originate (3) Manda- tory Commit- ments (4) Option Contracts Total Beginning balance at June 30, 2015 $ 717 $ 151 $ — $ 63 $ 1,499 $ (71 ) $ 192 $ 2,551 Total gains or losses (realized/unrealized): Included in earnings — — (149 ) — 1,537 (101 ) (87 ) 1,200 Included in other comprehensive loss (7 ) (4 ) — (13 ) — — — (24 ) Purchases — — — — — — 222 222 Issuances — — — — — — — — Settlements (93 ) — (1,816 ) — — 47 (303 ) (2,165 ) Transfers in and/or out of Level 3 — (147 ) 6,548 — — — — 6,401 Ending balance at March 31, 2016 $ 617 $ — $ 4,583 $ 50 $ 3,036 $ (125 ) $ 24 $ 8,185 (1) Common stock of a community development financial institution. (2) The valuation of loans held for investment at fair value includes the management estimates of the specific credit risk attributes of each loan (Level 3), in addition to the quoted secondary-market prices which account for interest rate characteristics. (3) Consists of commitments to extend credit on loans to be held for sale. (4) Consists of mandatory loan sale commitments. For the Nine Months Ended March 31, 2015 Fair Value Measurement Using Significant Other Unobservable Inputs (Level 3) (In Thousands) Private Issue CMO Common stock (1) Interest- Only Strips Loan Commit- ments to originate (2) Manda- tory Commit- ments (3) Option Contracts Total Beginning balance at June 30, 2014 $ 853 $ — $ 62 $ 2,566 $ (93 ) $ — $ 3,388 Total gains or losses (realized/unrealized): Included in earnings — — — 1,737 (303 ) (193 ) 1,241 Included in other comprehensive (loss) income (7 ) — 1 — — — (6 ) Purchases — 250 — — — 689 939 Issuances — — — — — — — Settlements (70 ) — — — 34 (259 ) (295 ) Transfers in and/or out of Level 3 — — — — — — — Ending balance at March 31, 2015 $ 776 $ 250 $ 63 $ 4,303 $ (362 ) $ 237 $ 5,267 (1) Common stock of a community development financial institution. (2) Consists of commitments to extend credit on loans to be held for sale. (3) Consists of mandatory loan sale commitments. The following fair value hierarchy tables present information about the Corporation’s assets measured at fair value at the dates indicated on a nonrecurring basis: Fair Value Measurement at March 31, 2016 Using: (In Thousands) Level 1 Level 2 Level 3 Total Non-performing loans $ — $ 9,571 $ 2,690 $ 12,261 MSA — — 444 444 Real estate owned, net — 3,165 — 3,165 Total $ — $ 12,736 $ 3,134 $ 15,870 Fair Value Measurement at June 30, 2015 Using: (In Thousands) Level 1 Level 2 Level 3 Total Non-performing loans $ — $ 11,816 $ 2,130 $ 13,946 MSA — — 269 269 Real estate owned, net — 2,398 — 2,398 Total $ — $ 14,214 $ 2,399 $ 16,613 The following table presents additional information about valuation techniques and inputs used for assets and liabilities, including derivative financial instruments, which are measured at fair value and categorized within Level 3 as of March 31, 2016: (Dollars In Thousands) Fair Value Valuation Techniques Unobservable Inputs Range (1) (Weighted Average) Impact to Valuation from an Increase in Inputs (2) Assets: Securities available - for sale: Private issue CMO $ 617 Market comparable pricing Comparability adjustment (0.9)% – 0.6% (0.3%) Increase Loans held for investment, at fair value $ 4,583 Relative value Broker quotes 100.0% – 106.7% Increase Non-performing loans $ 78 Discounted cash flow Default rates 5.0% Decrease Non-performing loans $ 2,612 Relative value analysis Loss severity 20.0% - 45.0% (24.9%) Decrease MSA $ 444 Discounted cash flow Prepayment speed (CPR) Discount rate 14.1% - 60.0% (19.4%) Decrease Interest-only strips $ 50 Discounted cash flow Prepayment speed (CPR) Discount rate 17.6% - 23.7% (18.2%) Decrease Commitments to extend credit on loans to be held for sale $ 3,037 Relative value analysis TBA-MBS broker quotes Fall-out ratio (4) 98.6% – 105.4% Increase Option contracts $ 24 Relative value analysis Broker quotes 130.4% of par Increase Liabilities: Commitments to extend credit on loans to be held for sale $ 1 Relative value analysis TBA-MBS broker quotes Fall-out ratio (4) 104.0% – 104.6% Increase Mandatory loan sale commitments $ 125 Relative value analysis TBA MBS broker quotes Roll-forward costs (5) 102.3% - 106.8% Decrease (1) The range is based on the estimated fair values and management estimates. (2) Unless otherwise noted, this column represents the directional change in the fair value of the Level 3 investments that would result from an increase to the corresponding unobservable input. A decrease to the unobservable input would have the opposite effect. Significant changes in these inputs in isolation could result in significantly higher or lower fair value measurements. (3) Common stock of a community development financial institution. (4) The percentage of commitments to extend credit on loans to be held for sale which management has estimated may not fund. (5) An estimated cost to roll forward the mandatory loan sale commitments which management has estimated may not be delivered to the corresponding investors in a timely manner. The significant unobservable inputs used in the fair value measurement of the Corporation’s assets and liabilities include the following: prepayment speeds, discount rates, MBS – TBA quotes, fallout ratios, broker quotes and roll-forward costs, among others. Significant increases or decreases in any of these inputs in isolation could result in significantly lower or higher fair value measurement. The various unobservable inputs used to determine valuations may have similar or diverging impacts on valuation. The carrying amount and fair value of the Corporation’s other financial instruments as of March 31, 2016 and June 30, 2015 was as follows: March 31, 2016 (In Thousands) Carrying Fair Financial assets: Investment securities - held to maturity $ 21,014 $ 21,163 — $ 21,163 $ — Loans held for investment, not recorded at fair value $ 800,984 $ 807,288 — — $ 807,288 FHLB – San Francisco stock $ 8,094 $ 8,094 — $ 8,094 — Financial liabilities: Deposits $ 927,065 $ 895,760 — — $ 895,760 Borrowings $ 91,317 $ 94,671 — — $ 94,671 June 30, 2015 (In Thousands) Carrying Fair Financial assets: Loans held for investment, not recorded at fair value $ 809,716 $ 815,385 — — $ 815,385 FHLB – San Francisco stock $ 8,094 $ 8,094 — $ 8,094 — Financial liabilities: Deposits $ 924,086 $ 895,664 — — $ 895,664 Borrowings $ 91,367 $ 93,219 — — $ 93,219 Loans held for investment, not recorded at fair value: For loans that reprice frequently at market rates, the carrying amount approximates the fair value. For fixed-rate loans, the fair value is determined by either (i) discounting the estimated future cash flows of such loans over their estimated remaining contractual maturities using a current interest rate at which such loans would be made to borrowers, or (ii) quoted market prices. The allowance for loan losses is subtracted as an estimate of the underlying credit risk. Investment securities - held to maturity: The investment securities - held to maturity consist of time deposits at CRA qualified minority financial institutions and U.S. government agency MBS. Due to the short-term of the time deposits, the principal balance approximated fair value (Level 2). For the MBS, the Corporation utilizes quoted prices in active and less than active markets for similar securities for its fair value measurement of MBS and debt securities (Level 2). FHLB – San Francisco stock: The carrying amount reported for FHLB – San Francisco stock approximates fair value. When redeemed, the Corporation will receive an amount equal to the par value of the stock. Deposits: The fair value of time deposits is estimated using a discounted cash flow calculation. The discount rate is based upon rates currently offered for deposits of similar remaining maturities. The fair value of transaction accounts (checking, money market and savings accounts) is estimated using a discounted cash flow calculation and management estimates of current market conditions. Borrowings: The fair value of borrowings has been estimated using a discounted cash flow calculation. The discount rate on such borrowings is based upon rates currently offered for borrowings of similar remaining maturities. The Corporation has various processes and controls in place to ensure that fair value is reasonably estimated. The Corporation generally determines fair value of their Level 3 assets and liabilities by using internally developed models which primarily utilize discounted cash flow techniques and prices obtained from independent management services or brokers. The Corporation performs due diligence procedures over third-party pricing service providers in order to support their use in the valuation process. The fair values of investment securities, commitments to extend credit on loans held for sale, mandatory commitments and option contracts are determined from the independent management services or brokers; while the fair value of MSA and interest-only strips are determined using the internally developed models which are based on discounted cash flow analysis. The fair value of non-performing loans is determined by calculating discounted cash flows, relative value analysis or collateral value, less selling costs. While the Corporation believes its valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different estimate of fair value at the reporting date. During the quarter ended March 31, 2016, there were no significant changes to the Corporation’s valuation techniques that had, or are expected to have, a material impact on its consolidated financial position or results of operations. |
Reclassification Adjustment of
Reclassification Adjustment of Accumulated Other Comprehensive Income ("AOCI") | 9 Months Ended |
Mar. 31, 2016 | |
Equity [Abstract] | |
Reclassification Adjustment of Accumulated Other Comprehensive Income (AOCI) | Reclassification adjustment of Accumulated Other Comprehensive Income ("AOCI") The following tables provide the changes in AOCI by component for the quarters and nine months ended March 31, 2016 and 2015. For the Quarter Ended March 31, 2016 Unrealized gains and losses on (In Thousands) Investment securities available for sale Interest-only strips Total Beginning balance at December 31, 2015 $ 215 $ 31 $ 246 Other comprehensive income (loss) before reclassifications 76 (60 ) 16 Amount reclassified from accumulated other comprehensive income — — — Net other comprehensive income (loss) 76 (60 ) 16 Ending balance at March 31, 2016 $ 291 $ (29 ) $ 262 For the Quarter Ended March 31, 2015 Unrealized gains and losses on (In Thousands) Investment securities available for sale Interest-only strips Total Beginning balance at December 31, 2014 $ 395 $ 37 $ 432 Other comprehensive loss before reclassifications (34 ) (1 ) (35 ) Amount reclassified from accumulated other comprehensive income — — — Net other comprehensive loss (34 ) (1 ) (35 ) Ending balance at March 31, 2015 $ 361 $ 36 $ 397 For the Nine Months Ended March 31, 2016 Unrealized gains and losses on (In Thousands) Investment securities available for sale Interest-only strips Total Beginning balance at June 30, 2015 $ 294 $ 37 $ 331 Other comprehensive loss before reclassifications (3 ) (66 ) (69 ) Amount reclassified from accumulated other comprehensive income — — — Net other comprehensive loss (3 ) (66 ) (69 ) Ending balance at March 31, 2016 $ 291 $ (29 ) $ 262 For the Nine Months Ended March 31, 2015 Unrealized gains and losses on (In Thousands) Investment securities available for sale Interest-only strips Total Beginning balance at June 30, 2014 $ 351 $ 35 $ 386 Other comprehensive income before reclassifications 10 1 11 Amount reclassified from accumulated other comprehensive income — — — Net other comprehensive income 10 1 11 Ending balance at March 31, 2015 $ 361 $ 36 $ 397 There were no significant items reclassified out of AOCI for the quarters and nine months ended March 31, 2016 and 2015. |
Offsetting Derivative and Other
Offsetting Derivative and Other Financial Instruments (Notes) | 9 Months Ended |
Mar. 31, 2016 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | Offsetting Derivative and Other Financial Instruments The Corporation’s derivative transactions are generally governed by International Swaps and Derivatives Association Master Agreements and similar arrangements, which include provisions governing the setoff of assets and liabilities between the parties. When the Corporation has more than one outstanding derivative transaction with a single counterparty, the setoff provisions contained within these agreements generally allow the non-defaulting party the right to reduce its liability to the defaulting party by amounts eligible for setoff, including the collateral received as well as eligible offsetting transactions with that counterparty, irrespective of the currency, place of payment, or booking office. The Corporation’s policy is to present its derivative assets and derivative liabilities on the Condensed Consolidated Statements of Financial Condition on a net basis for each type of derivative. The derivative assets and liabilities are comprised of mandatory loan sale commitments, TBA MBS trades and option contracts. The following tables present the gross and net amounts of derivative assets and liabilities and other financial instruments as reported in the Corporation’s Condensed Consolidated Statement of Financial Condition, and the gross amount not offset in the Corporation’s Condensed Consolidated Statement of Financial Condition as of the dates indicated. As of March 31, 2016: Gross Net Amount Amount Offset in the of Assets in Gross Amount Not Offset in Condensed the Condensed the Condensed Consolidated Gross Consolidated Consolidated Statements of Financial Condition Amount of Statements Statements Cash Recognized of Financial of Financial Financial Collateral Net (In Thousands) Assets Condition Condition Instruments Received Amount Assets Derivatives $ 24 $ 24 $ — $ — $ — $ — Total $ 24 $ 24 $ — $ — $ — $ — Gross Net Amount Amount Offset in the of Liabilities in Gross Amount Not Offset in Condensed the Condensed the Condensed Consolidated Gross Consolidated Consolidated Statements of Financial Condition Amount of Statements Statements Cash Recognized of Financial of Financial Financial Collateral Net (In Thousands) Liabilities Condition Condition Instruments Received Amount Liabilities Derivatives $ 1,790 $ 24 $ 1,766 $ — $ — $ 1,766 Total $ 1,790 $ 24 $ 1,766 $ — $ — $ 1,766 As of June 30, 2015: Gross Net Amount Amount Offset in the of Assets in Gross Amount Not Offset in Condensed the Condensed the Condensed Consolidated Gross Consolidated Consolidated Statements of Financial Condition Amount of Statements Statements Cash Recognized of Financial of Financial Financial Collateral Net (In Thousands) Assets Condition Condition Instruments Received Amount Assets Derivatives $ 1,004 $ — $ 1,004 $ — $ — $ 1,004 Total $ 1,004 $ — $ 1,004 $ — $ — $ 1,004 Gross Net Amount Amount Offset in the of Liabilities in Gross Amount Not Offset in Condensed the Condensed the Condensed Consolidated Gross Consolidated Consolidated Statements of Financial Condition Amount of Statements Statements Cash Recognized of Financial of Financial Financial Collateral Net (In Thousands) Liabilities Condition Condition Instruments Received Amount Liabilities Derivatives $ 71 $ — $ 71 $ — $ — $ 71 Total $ 71 $ — $ 71 $ — $ — $ 71 |
Subsequent Events
Subsequent Events | 9 Months Ended |
Mar. 31, 2016 | |
Subsequent Events [Abstract] | |
Subsequent Events | Subsequent Events On April 26, 2016, the Corporation announced that the Corporation’s Board of Directors declared a quarterly cash dividend of $0.12 per share. Shareholders of the Corporation’s common stock at the close of business on May 17, 2016 will be entitled to receive the cash dividend. The cash dividend will be payable on June 7, 2016. |
Accounting Standard Updates (19
Accounting Standard Updates ("ASU") (Policies) | 9 Months Ended |
Mar. 31, 2016 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
Segment Reporting Policy | The Corporation operates in two business segments: community banking through the Bank and mortgage banking through Provident Bank Mortgage (“PBM”), a division of the Bank. |
Other Than Temporary Impairment Policy | The Corporation evaluates individual investment securities quarterly for other-than-temporary declines in market value. As of March 31, 2016, the unrealized holding loss was less than 12 months. The Corporation does not believe that there are any other-than-temporary impairments on the investment securities at March 31, 2016 and 2015; therefore, no impairment losses have been recorded for the quarters and nine months ended March 31, 2016 and 2015. |
Impaired Financing Receivables | on-performing loans are charged-off to their fair market values in the period the loans, or portion thereof, are deemed uncollectible, generally after the loan becomes 150 days delinquent for real estate secured first trust deed loans and 120 days delinquent for commercial business or real estate secured second trust deed loans. For loans that were modified from their original terms, were re-underwritten and identified in the Corporation’s asset quality reports as troubled debt restructurings (“restructured loans”), the charge-off occurs when the loan becomes 90 days delinquent; and where borrowers file bankruptcy, the charge-off occurs when the loan becomes 60 days delinquent. The amount of the charge-off is determined by comparing the loan balance to the estimated fair value of the underlying collateral, less disposition costs, with the loan balance in excess of the estimated fair value charged-off against the allowance for loan losses. The allowance for loan losses for non-performing loans is determined by applying Accounting Standards Codification (“ASC”) 310 , “Receivables.” For restructured loans that are less than 90 days delinquent, the allowance for loan losses are segregated into (a) individually evaluated allowances for those loans with applicable discounted cash flow calculations still in their restructuring period, classified lower than pass, and containing an embedded loss component or (b) collectively evaluated allowances based on the aggregated pooling method. For non-performing loans less than 60 days delinquent where the borrower has filed bankruptcy, the collectively evaluated allowances are assigned based on the aggregated pooling method. |
Non-Performing Loans Policy | The Corporation records payments on non-performing loans utilizing the cash basis or cost recovery method of accounting during the periods when the loans are on non-performing status. |
Off-Balance-Sheet Credit Exposure, Policy | The Corporation is a party to financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit in the form of originating loans or providing funds under existing lines of credit, loan sale commitments to third parties and option contracts. These instruments involve, to varying degrees, elements of credit and interest-rate risk in excess of the amount recognized in the accompanying Condensed Consolidated Statements of Financial Condition. The Corporation’s exposure to credit loss, in the event of non-performance by the counterparty to these financial instruments, is represented by the contractual amount of these instruments. The Corporation uses the same credit policies in entering into financial instruments with off-balance sheet risk as it does for on-balance sheet instruments. As of March 31, 2016 and June 30, 2015, the Corporation had commitments to extend credit (on loans to be held for investment and loans to be held for sale) of $161.3 million and $144.3 million , respectively. |
Commitments on Undisbursed Funds Held for Investment Policy | In accordance with ASC 815, “Derivatives and Hedging,” and interpretations of the Derivatives Implementation Group of the FASB, the fair value of the commitments to extend credit on loans to be held for sale, loan sale commitments, to be announced (“TBA”) MBS trades, put option contracts and call option contracts are recorded at fair value on the Condensed Consolidated Statements of Financial Condition. At March 31, 2016, $3.0 million was included in other assets and $1.7 million was included in other liabilities; at June 30, 2015, $2.6 million was included in other assets and $208,000 was included in other liabilities. The Corporation does not apply hedge accounting to its derivative financial instruments; therefore, all changes in fair value are recorded in earnings. |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 9 Months Ended |
Mar. 31, 2016 | |
Earnings Per Share [Abstract] | |
Schedule of Earnings Per Share, Basic and Diluted | The following table provides the basic and diluted EPS computations for the quarters and nine months ended March 31, 2016 and 2015, respectively. (In Thousands, Except Earnings Per Share) For the Quarters Ended For the Nine Months Ended 2016 2015 2016 2015 Numerator: Net income – numerator for basic earnings per share and diluted earnings per share - available to common stockholders $ 1,494 $ 2,600 $ 4,919 $ 7,318 Denominator: Denominator for basic earnings per share: Weighted-average shares 8,318 8,940 8,427 9,106 Effect of dilutive shares: Stock options 132 96 129 110 Restricted stock 66 70 64 56 Denominator for diluted earnings per share: Adjusted weighted-average shares and assumed conversions 8,516 9,106 8,620 9,272 Basic earnings per share $ 0.18 $ 0.29 $ 0.58 $ 0.80 Diluted earnings per share $ 0.18 $ 0.29 $ 0.57 $ 0.79 |
Operating Segment Reports (Tabl
Operating Segment Reports (Tables) | 9 Months Ended |
Mar. 31, 2016 | |
Segment Reporting [Abstract] | |
Schedule of Segment Reporting Information, by Segment | The following tables set forth condensed consolidated statements of operations and total assets for the Corporation’s operating segments for the quarters and nine months ended March 31, 2016 and 2015, respectively. For the Quarter Ended March 31, 2016 (In Thousands) Provident Provident Consolidated Net interest income $ 6,915 $ 997 $ 7,912 Recovery from the allowance for loan losses (690 ) (4 ) (694 ) Net interest income, after recovery from the allowance for loan losses 7,605 1,001 8,606 Non-interest income: Loan servicing and other fees (1) 126 257 383 Gain on sale of loans, net (2) 34 7,111 7,145 Deposit account fees 590 — 590 Loss on sale and operations of real estate owned acquired in the settlement of loans, net (231 ) (45 ) (276 ) Card and processing fees 355 — 355 Other 227 — 227 Total non-interest income 1,101 7,323 8,424 Non-interest expense: Salaries and employee benefits 4,761 5,869 10,630 Premises and occupancy 720 426 1,146 Operating and administrative expenses 1,232 1,477 2,709 Total non-interest expense 6,713 7,772 14,485 Income before income taxes 1,993 552 2,545 Provision for income taxes 819 232 1,051 Net income $ 1,174 $ 320 $ 1,494 Total assets, end of period $ 989,538 $ 184,213 $ 1,173,751 (1) Includes an inter-company charge of $135 credited to PBM by the Bank during the period to compensate PBM for originating loans held for investment. (2) Includes an inter-company charge of $53 credited to PBM by the Bank during the period to compensate PBM for servicing fees on loans sold on a servicing retained basis. For the Quarter Ended March 31, 2015 (In Thousands) Provident Provident Consolidated Net interest income $ 7,023 $ 1,355 $ 8,378 Provision (recovery) for loan losses 64 (175 ) (111 ) Net interest income after provision (recovery) for loan losses 6,959 1,530 8,489 Non-interest income: Loan servicing and other fees (1) 153 111 264 (Loss) gain on sale of loans, net (2) (29 ) 9,783 9,754 Deposit account fees 607 — 607 Gain on sale and operations of real estate owned acquired in the settlement of loans, net 58 — 58 Card and processing fees 338 — 338 Other 248 — 248 Total non-interest income 1,375 9,894 11,269 Non-interest expense: Salaries and employee benefits 4,743 6,207 10,950 Premises and occupancy 679 427 1,106 Operating and administrative expenses 1,203 1,909 3,112 Total non-interest expense 6,625 8,543 15,168 Income before income taxes 1,709 2,881 4,590 Provision for income taxes 764 1,226 1,990 Net income $ 945 $ 1,655 $ 2,600 Total assets, end of period $ 906,378 $ 307,413 $ 1,213,791 (1) Includes an inter-company charge of $54 credited to PBM by the Bank during the period to compensate PBM for originating loans held for investment. (2) Includes an inter-company charge of $32 credited to PBM by the Bank during the period to compensate PBM for servicing fees on loans sold on a servicing retained basis. For the Nine Months Ended March 31, 2016 (In Thousands) Provident Provident Consolidated Net interest income $ 20,519 $ 3,048 $ 23,567 Recovery from the allowance for loan losses (1,031 ) (63 ) (1,094 ) Net interest income, after recovery from the allowance for loan losses 21,550 3,111 24,661 Non-interest income: Loan servicing and other fees (1) 458 342 800 Gain on sale of loans, net (2) 34 22,079 22,113 Deposit account fees 1,790 — 1,790 Gain (loss) on sale and operations of real estate owned acquired in the settlement of loans, net 28 (40 ) (12 ) Card and processing fees 1,069 — 1,069 Other 711 — 711 Total non-interest income 4,090 22,381 26,471 Non-interest expense: Salaries and employee benefits 13,569 17,824 31,393 Premises and occupancy 2,164 1,260 3,424 Operating and administrative expenses 3,467 4,420 7,887 Total non-interest expense 19,200 23,504 42,704 Income before income taxes 6,440 1,988 8,428 Provision for income taxes 2,673 836 3,509 Net income $ 3,767 $ 1,152 $ 4,919 Total assets, end of period $ 989,538 $ 184,213 $ 1,173,751 (1) Includes an inter-company charge of $303 credited to PBM by the Bank during the period to compensate PBM for originating loans held for investment. (2) Includes an inter-company charge of $352 credited to PBM by the Bank during the period to compensate PBM for servicing fees on loans sold on a servicing retained basis. For the Nine Months Ended March 31, 2015 (In Thousands) Provident Provident Consolidated Net interest income $ 20,843 $ 3,582 $ 24,425 Recovery from the allowance for loan losses (1,199 ) (84 ) (1,283 ) Net interest income, after recovery from the allowance for loan losses 22,042 3,666 25,708 Non-interest income: Loan servicing and other fees (1) 246 577 823 Gain on sale of loans, net (2) 117 25,331 25,448 Deposit account fees 1,837 — 1,837 Loss on sale and operations of real estate owned acquired in the settlement of loans, net (11 ) (1 ) (12 ) Card and processing fees 1,030 — 1,030 Other 750 — 750 Total non-interest income 3,969 25,907 29,876 Non-interest expense: Salaries and employee benefits 13,538 16,943 30,481 Premises and occupancy 2,267 1,337 3,604 Operating and administrative expenses 3,452 5,282 8,734 Total non-interest expense 19,257 23,562 42,819 Income before income taxes 6,754 6,011 12,765 Provision for income taxes 2,919 2,528 5,447 Net income $ 3,835 $ 3,483 $ 7,318 Total assets, end of period $ 906,378 $ 307,413 $ 1,213,791 (1) Includes an inter-company charge of $356 credited to PBM by the Bank during the period to compensate PBM for originating loans held for investment. (2) Includes an inter-company charge of $107 credited to PBM by the Bank during the period to compensate PBM for servicing fees on loans sold on a servicing retained basis. |
Investment Securities (Tables)
Investment Securities (Tables) | 9 Months Ended |
Mar. 31, 2016 | |
Investments, Debt and Equity Securities [Abstract] | |
Schedule of Available-for-sale Securities Reconciliation | The amortized cost and estimated fair value of investment securities as of March 31, 2016 and June 30, 2015 were as follows: March 31, 2016 Amortized Cost Gross Unrealized Gains Gross Unrealized (Losses) Estimated Fair Value Carrying Value (In Thousands) Held to maturity: Certificates of deposit $ 800 $ — $ — $ 800 $ 800 U.S. government sponsored enterprise MBS (1) 20,214 149 — 20,363 20,214 Total investment securities - held to maturity $ 21,014 $ 149 $ — $ 21,163 $ 21,014 Available for sale: U.S. government agency MBS $ 6,674 $ 273 $ — $ 6,947 $ 6,947 U.S. government sponsored enterprise MBS 4,219 231 — 4,450 4,450 Private issue CMO (2) 615 3 (1 ) 617 617 Common stock - community development financial institution 250 — (103 ) 147 147 Total investment securities - available for sale $ 11,758 $ 507 $ (104 ) $ 12,161 $ 12,161 Total investment securities $ 32,772 $ 656 $ (104 ) $ 33,324 $ 33,175 (1) Mortgage-Backed Securities (“MBS”). (2) Collateralized Mortgage Obligations (“CMO”). June 30, 2015 Amortized Cost Gross Unrealized Gains Gross Unrealized (Losses) Estimated Fair Value Carrying Value (In Thousands) Held to maturity: Certificates of deposit $ 800 $ — $ — $ 800 $ 800 Total investment securities - held to maturity $ 800 $ — $ — $ 800 $ 800 Available for sale: U.S. government agency MBS $ 7,613 $ 293 $ — $ 7,906 $ 7,906 U.S. government sponsored enterprise MBS 5,083 304 — 5,387 5,387 Private issue CMO 708 9 — 717 717 Common stock - community development financial institution 250 — (99 ) 151 151 Total investment securities - available for sale $ 13,654 $ 606 $ (99 ) $ 14,161 $ 14,161 Total investment securities $ 14,454 $ 606 $ (99 ) $ 14,961 $ 14,961 |
Investments Classified by Contractual Maturity | Contractual maturities of investment securities as of March 31, 2016 and June 30, 2015 were as follows: March 31, 2016 June 30, 2015 (In Thousands) Amortized Estimated Amortized Estimated Held to maturity: Due in one year or less $ 800 $ 800 $ 800 $ 800 Due after one through five years — — — — Due after five through ten years 20,214 20,363 — — Due after ten years — — — — Total investment securities - held to maturity $ 21,014 $ 21,163 $ 800 $ 800 Available for sale: Due in one year or less $ — $ — $ — $ — Due after one through five years — — — — Due after five through ten years — — — — Due after ten years 11,508 12,014 13,404 14,010 No stated maturity (common stock) 250 147 250 151 Total investment securities - available for sale $ 11,758 $ 12,161 $ 13,654 $ 14,161 Total investment securities $ 32,772 $ 33,324 $ 14,454 $ 14,961 |
Loans Held For Investment (Tabl
Loans Held For Investment (Tables) | 9 Months Ended |
Mar. 31, 2016 | |
Loans and Leases Receivable Disclosure [Abstract] | |
Schedule of Loans Held for Investment | Loans held for investment, net of fair value adjustments, consisted of the following: (In Thousands) March 31, June 30, Mortgage loans: Single-family $ 335,797 $ 365,961 Multi-family 378,871 347,020 Commercial real estate 93,384 100,897 Construction 9,679 8,191 Other 72 — Commercial business loans 452 666 Consumer loans 230 244 Total loans held for investment, gross 818,485 822,979 Undisbursed loan funds (8,648 ) (3,360 ) Advance payments of escrows 247 199 Deferred loan costs, net 3,683 3,140 Allowance for loan losses (8,200 ) (8,724 ) Total loans held for investment, net $ 805,567 $ 814,234 |
Schedule of Loans Held for Investment, Contractual Repricing | Adjustable Rate (In Thousands) Within One Year After After After Fixed Rate Total Mortgage loans: Single-family $ 257,665 $ 7,121 $ 56,836 $ 679 $ 13,496 $ 335,797 Multi-family 68,092 127,701 174,233 5,827 3,018 378,871 Commercial real estate 6,604 40,493 42,745 — 3,542 93,384 Construction 7,034 — — — 2,645 9,679 Other — — — — 72 72 Commercial business loans 114 — — — 338 452 Consumer loans 226 — — — 4 230 Total loans held for investment, gross $ 339,735 $ 175,315 $ 273,814 $ 6,506 $ 23,115 $ 818,485 |
Schedule of Allowance for Loan Losses and Recorded Investment [Table Text Block] | The following tables summarize the Corporation’s allowance for loan losses and recorded investment in gross loans, by portfolio type, at the dates and for the periods indicated. Quarter Ended March 31, 2016 (In Thousands) Single-family Multi-family Commercial Real Estate Construction Other Mortgage Commercial Business Consumer Total Allowance for loan losses: Allowance at beginning of period $ 5,720 $ 1,919 $ 778 $ 304 $ 1 $ 37 $ 9 $ 8,768 Recovery from the allowance for loan losses (285 ) (74 ) (37 ) (294 ) — (2 ) (2 ) (694 ) Recoveries 129 53 — — — — 1 183 Charge-offs (57 ) — — — — — — (57 ) Allowance for loan losses, end of period $ 5,507 $ 1,898 $ 741 $ 10 $ 1 $ 35 $ 8 $ 8,200 Allowance for loan losses: Individually evaluated for impairment $ — $ — $ — $ — $ — $ 20 $ — $ 20 Collectively evaluated for impairment 5,507 1,898 741 10 1 15 8 8,180 Allowance for loan losses, end of period $ 5,507 $ 1,898 $ 741 $ 10 $ 1 $ 35 $ 8 $ 8,200 Loans held for investment: Individually evaluated for impairment $ 7,638 $ 1,933 $ — $ — $ — $ 98 $ — $ 9,669 Collectively evaluated for impairment 328,159 376,938 93,384 9,679 72 354 230 808,816 Total loans held for investment, gross $ 335,797 $ 378,871 $ 93,384 $ 9,679 $ 72 $ 452 $ 230 $ 818,485 Allowance for loan losses as a percentage of gross loans held for investment 1.64 % 0.50 % 0.79 % 0.10 % 1.39 % 7.74 % 3.48 % 1.01 % Quarter Ended March 31, 2015 (In Thousands) Single-family Multi-family Commercial Real Estate Construction Commercial Business Consumer Total Allowance for loan losses: Allowance at beginning of period $ 4,540 $ 2,998 $ 1,075 $ 17 $ 53 $ 10 $ 8,693 Provision (recovery) for loan losses 102 26 (238 ) 10 (10 ) (1 ) (111 ) Recoveries 226 65 — — — — 291 Charge-offs (88 ) — (73 ) — — — (161 ) Allowance for loan losses, end of period $ 4,780 $ 3,089 $ 764 $ 27 $ 43 $ 9 $ 8,712 Allowance for loan losses: Individually evaluated for impairment $ — $ — $ — $ — $ 20 $ — $ 20 Collectively evaluated for impairment 4,780 3,089 764 27 23 9 8,692 Allowance for loan losses, end of period $ 4,780 $ 3,089 $ 764 $ 27 $ 43 $ 9 $ 8,712 Loans held for investment: Individually evaluated for impairment $ 5,651 $ 1,982 $ 1,468 $ — $ 110 $ — $ 9,211 Collectively evaluated for impairment 369,330 342,295 100,150 6,039 542 246 818,602 Total loans held for investment, gross $ 374,981 $ 344,277 $ 101,618 $ 6,039 $ 652 $ 246 $ 827,813 Allowance for loan losses as a percentage of gross loans held for investment 1.27 % 0.90 % 0.75 % 0.45 % 6.60 % 3.66 % 1.05 % Nine Months Ended March 31, 2016 (In Thousands) Single-family Multi-family Commercial Real Estate Construction Other Mortgage Commercial Business Consumer Total Allowance for loan losses: Allowance at beginning of period $ 5,280 $ 2,616 $ 734 $ 42 $ — $ 43 $ 9 $ 8,724 Provision (recovery) for loan losses 124 (885 ) (209 ) (32 ) 1 (93 ) — (1,094 ) Recoveries 356 167 216 — — 85 1 825 Charge-offs (253 ) — — — — — (2 ) (255 ) Allowance for loan losses, end of period $ 5,507 $ 1,898 $ 741 $ 10 $ 1 $ 35 $ 8 $ 8,200 Allowance for loan losses: Individually evaluated for impairment $ — $ — $ — $ — $ — $ 20 $ — $ 20 Collectively evaluated for impairment 5,507 1,898 741 10 1 15 8 8,180 Allowance for loan losses, end of period $ 5,507 $ 1,898 $ 741 $ 10 $ 1 $ 35 $ 8 $ 8,200 Loans held for investment: Individually evaluated for impairment $ 7,638 $ 1,933 $ — $ — $ — $ 98 $ — $ 9,669 Collectively evaluated for impairment 328,159 376,938 93,384 9,679 72 354 230 808,816 Total loans held for investment, gross $ 335,797 $ 378,871 $ 93,384 $ 9,679 $ 72 $ 452 $ 230 $ 818,485 Allowance for loan losses as a percentage of gross loans held for investment 1.64 % 0.50 % 0.79 % 0.10 % 1.39 % 7.74 % 3.48 % 1.01 % Nine Months Ended March 31, 2015 (In Thousands) Single-family Multi-family Commercial Real Estate Construction Commercial Business Consumer Total Allowance for loan losses: Allowance at beginning of period $ 5,476 $ 3,142 $ 989 $ 35 $ 92 $ 10 $ 9,744 Recovery from the allowance for loan (790 ) (282 ) (152 ) (8 ) (49 ) (2 ) (1,283 ) Recoveries 499 229 — — — 1 729 Charge-offs (405 ) — (73 ) — — — (478 ) Allowance for loan losses, end of period $ 4,780 $ 3,089 $ 764 $ 27 $ 43 $ 9 $ 8,712 Allowance for loan losses: Individually evaluated for impairment $ — $ — $ — $ — $ 20 $ — $ 20 Collectively evaluated for impairment 4,780 3,089 764 27 23 9 8,692 Allowance for loan losses, end of period $ 4,780 $ 3,089 $ 764 $ 27 $ 43 $ 9 $ 8,712 Loans held for investment: Individually evaluated for impairment $ 5,651 $ 1,982 $ 1,468 $ — $ 110 $ — $ 9,211 Collectively evaluated for impairment 369,330 342,295 100,150 6,039 542 246 818,602 Total loans held for investment, gross $ 374,981 $ 344,277 $ 101,618 $ 6,039 $ 652 $ 246 $ 827,813 Allowance for loan losses as a percentage of gross loans held for investment 1.27 % 0.90 % 0.75 % 0.45 % 6.60 % 3.66 % 1.05 % |
Schedule of Allowance for Loan Losses | The following table summarizes the Corporation’s allowance for loan losses at March 31, 2016 and June 30, 2015: (In Thousands) March 31, 2016 June 30, 2015 Collectively evaluated for impairment: Mortgage loans: Single-family $ 5,507 $ 5,202 Multi-family 1,898 2,616 Commercial real estate 741 734 Construction 10 42 Other 1 — Commercial business loans 15 23 Consumer loans 8 9 Total collectively evaluated allowance 8,180 8,626 Individually evaluated for impairment: Mortgage loans: Single-family — 78 Commercial business loans 20 20 Total individually evaluated allowance 20 98 Total loan loss allowance $ 8,200 $ 8,724 The following table is provided to disclose additional details on the Corporation’s allowance for loan losses: For the Quarters Ended For the Nine Months Ended (Dollars in Thousands) 2016 2015 2016 2015 Allowance at beginning of period $ 8,768 $ 8,693 $ 8,724 $ 9,744 Recovery from the allowance for loan losses (694 ) (111 ) (1,094 ) (1,283 ) Recoveries: Mortgage loans: Single-family 129 226 356 499 Multi-family 53 65 167 229 Commercial real estate — — 216 — Commercial business loans — — 85 — Consumer loans 1 — 1 1 Total recoveries 183 291 825 729 Charge-offs: Mortgage loans: Single-family (57 ) (88 ) (253 ) (405 ) Commercial real estate — (73 ) — (73 ) Consumer loans — — (2 ) — Total charge-offs (57 ) (161 ) (255 ) (478 ) Net recoveries 126 130 570 251 Balance at end of period $ 8,200 $ 8,712 $ 8,200 $ 8,712 Allowance for loan losses as a percentage of gross loans held for investment 1.01 % 1.05 % 1.01 % 1.05 % Net recoveries as a percentage of average loans receivable, net, during the period (annualized) (0.05 )% (0.05 )% (0.08 )% (0.04 )% Allowance for loan losses as a percentage of gross non-performing loans at the end of the period 62.31 % 79.74 % 62.31 % 79.74 % |
Schedule of Recorded Investment in Non-Performing Loans | At March 31, 2016 Unpaid Net Principal Related Recorded Recorded (In Thousands) Balance Charge-offs Investment Allowance (1) Investment Mortgage loans: Single-family: With a related allowance $ 3,058 $ — $ 3,058 $ (776 ) $ 2,282 Without a related allowance (2) 9,218 (1,580 ) 7,638 — 7,638 Total single-family 12,276 (1,580 ) 10,696 (776 ) 9,920 Multi-family: With a related allowance 471 — 471 (141 ) 330 Without a related allowance (2) 3,025 (1,092 ) 1,933 — 1,933 Total multi-family 3,496 (1,092 ) 2,404 (141 ) 2,263 Commercial business loans: With a related allowance 98 — 98 (20 ) 78 Total commercial business loans 98 — 98 (20 ) 78 Total non-performing loans $ 15,870 $ (2,672 ) $ 13,198 $ (937 ) $ 12,261 (1) Consists of collectively and individually evaluated allowances, specifically assigned to the individual loan, and fair value credit adjustments. (2) There was no related allowance for loan losses because the loans have been charged-off to their fair value or the fair value of the collateral is higher than the loan balance. At June 30, 2015 Unpaid Net Principal Related Recorded Recorded (In Thousands) Balance Charge-offs Investment Allowance (1) Investment Mortgage loans: Single-family: With a related allowance $ 3,881 $ — $ 3,881 $ (630 ) $ 3,251 Without a related allowance (2) 8,462 (1,801 ) 6,661 — 6,661 Total single-family 12,343 (1,801 ) 10,542 (630 ) 9,912 Multi-family: Without a related allowance (2) 3,506 (1,260 ) 2,246 — 2,246 Total multi-family 3,506 (1,260 ) 2,246 — 2,246 Commercial real estate: Without a related allowance (2) 1,699 — 1,699 — 1,699 Total commercial real estate 1,699 — 1,699 — 1,699 Commercial business loans: With a related allowance 109 — 109 (20 ) 89 Total commercial business loans 109 — 109 (20 ) 89 Total non-performing loans $ 17,657 $ (3,061 ) $ 14,596 $ (650 ) $ 13,946 (1) Consists of collectively and individually evaluated allowances, specifically assigned to the individual loan. (2) There was no related allowance for loan losses because the loans have been charged-off to their fair value or the fair value of the collateral is higher than the loan balance. |
Schedule of Average Recorded Investment in Non-Performing Loans and Related Interest Income [Table Text Block] | The following table presents the average recorded investment in non-performing loans and the related interest income recognized for the quarters and nine months ended March 31, 2016 and 2015: Quarter Ended March 31, 2016 2015 Average Interest Average Interest Recorded Income Recorded Income Investment Recognized Investment Recognized Without related allowances: Mortgage loans: Single-family $ 7,870 $ 19 $ 5,827 $ 19 Multi-family 1,941 — 1,988 — Commercial real estate — — 1,487 21 9,811 19 9,302 40 With related allowances: Mortgage loans: Single-family 2,529 22 1,619 8 Multi-family 314 7 259 — Commercial business loans 98 2 116 2 2,941 31 1,994 10 Total $ 12,752 $ 50 $ 11,296 $ 50 Nine Months Ended March 31, 2016 2015 Average Interest Average Interest Recorded Income Recorded Income Investment Recognized Investment Recognized Without related allowances: Mortgage loans: Single-family $ 8,544 $ 22 $ 6,813 $ 53 Multi-family 1,988 66 2,094 — Commercial real estate 666 28 1,926 146 11,198 116 10,833 199 With related allowances: Mortgage loans: Single-family 2,594 58 1,872 36 Multi-family 105 7 417 13 Commercial business loans 102 6 124 7 2,801 71 2,413 56 Total $ 13,999 $ 187 $ 13,246 $ 255 |
Schedule of Aging Analysis of Non-Performing Loans | The following tables denote the past due status of the Corporation's gross loans held for investment, net of fair value adjustments, at the dates indicated. March 31, 2016 (In Thousands) Current 30-89 Days Past Due Non-Accrual (1) Total Loans Held for Investment Mortgage loans: Single-family $ 323,632 $ 1,508 $ 10,657 $ 335,797 Multi-family 376,467 — 2,404 378,871 Commercial real estate 93,384 — — 93,384 Construction 9,679 — — 9,679 Other 72 — — 72 Commercial business loans 354 — 98 452 Consumer loans 230 — — 230 Total loans held for investment, gross $ 803,818 $ 1,508 $ 13,159 $ 818,485 (1) All loans 90 days or greater past due are placed on non-accrual status. June 30, 2015 (In Thousands) Current 30-89 Days Past Due Non-Accrual (1) Total Loans Held for Investment Mortgage loans: Single-family $ 354,082 $ 1,335 $ 10,544 $ 365,961 Multi-family 344,774 — 2,246 347,020 Commercial real estate 99,198 — 1,699 100,897 Construction 8,191 — — 8,191 Commercial business loans 557 — 109 666 Consumer loans 244 — — 244 Total loans held for investment, gross $ 807,046 $ 1,335 $ 14,598 $ 822,979 (1) All loans 90 days or greater past due are placed on non-accrual status. |
Schedule of Troubled Debt Restructurings by Nonaccrual Versus Accrual Status | The following table summarizes at the dates indicated the restructured loan balances, net of allowance for loan losses, by loan type and non-accrual versus accrual status: (In Thousands) March 31, 2016 June 30, 2015 Restructured loans on non-accrual status: Mortgage loans: Single-family $ 3,002 $ 2,902 Multi-family 1,542 1,593 Commercial real estate — 1,019 Commercial business loans 78 89 Total 4,622 5,603 Restructured loans on accrual status: Mortgage loans: Single-family 1,114 989 Total 1,114 989 Total restructured loans $ 5,736 $ 6,592 |
Schedule of Recorded Investment in Restructured Loans [Table Text Block] | The following tables identify the Corporation’s total recorded investment in restructured loans by type at the dates and for the periods indicated. At March 31, 2016 Unpaid Net Principal Related Recorded Recorded (In Thousands) Balance Charge-offs Investment Allowance (1) Investment Mortgage loans: Single-family: With a related allowance $ 1,227 $ — $ 1,227 $ (245 ) $ 982 Without a related allowance (2) 3,929 (795 ) 3,134 — 3,134 Total single-family 5,156 (795 ) 4,361 (245 ) 4,116 Multi-family: Without a related allowance (2) 2,597 (1,055 ) 1,542 — 1,542 Total multi-family 2,597 (1,055 ) 1,542 — 1,542 Commercial business loans: With a related allowance 98 — 98 (20 ) 78 Total commercial business loans 98 — 98 (20 ) 78 Total restructured loans $ 7,851 $ (1,850 ) $ 6,001 $ (265 ) $ 5,736 (1) Consists of collectively and individually evaluated allowances, specifically assigned to the individual loan. (2) There was no related allowance for loan losses because the loans have been charged-off to their fair value or the fair value of the collateral is higher than the loan balance. At June 30, 2015 Unpaid Net Principal Related Recorded Recorded (In Thousands) Balance Charge-offs Investment Allowance (1) Investment Mortgage loans: Single-family With a related allowance $ 576 $ — $ 576 $ (115 ) $ 461 Without a related allowance (2) 4,397 (967 ) 3,430 — 3,430 Total single-family 4,973 (967 ) 4,006 (115 ) 3,891 Multi-family: Without a related allowance (2) 2,795 (1,202 ) 1,593 — 1,593 Total multi-family 2,795 (1,202 ) 1,593 — 1,593 Commercial real estate: Without a related allowance (2) 1,019 — 1,019 — 1,019 Total commercial real estate 1,019 — 1,019 — 1,019 Commercial business loans: With a related allowance 109 — 109 (20 ) 89 Total commercial business loans 109 — 109 (20 ) 89 Total restructured loans $ 8,896 $ (2,169 ) $ 6,727 $ (135 ) $ 6,592 (1) Consists of collectively and individually evaluated allowances, specifically assigned to the individual loan. (2) There was no related allowance for loan losses because the loans have been charged-off to their fair value or the fair value of the collateral is higher than the loan balance. |
Schedule of Gross Loans Held for Investment by Loan Types and Risk Category [Table Text Block] | The following tables summarize gross loans held for investment, net of fair value adjustments, by loan types and risk category at the dates indicated: March 31, 2016 (In Thousands) Single-family Multi-family Commercial Real Estate Construction Other Mortgage Commercial Business Consumer Total Pass $ 319,385 $ 375,537 $ 92,465 $ 9,679 $ 72 $ 354 $ 230 $ 797,722 Special Mention 5,754 930 — — — — — 6,684 Substandard 10,658 2,404 919 — — 98 — 14,079 Total loans held for investment, gross $ 335,797 $ 378,871 $ 93,384 $ 9,679 $ 72 $ 452 $ 230 $ 818,485 June 30, 2015 (In Thousands) Single-family Multi-family Commercial Real Estate Construction Commercial Business Consumer Total Pass $ 347,301 $ 339,093 $ 98,254 $ 8,191 $ 557 $ 244 $ 793,640 Special Mention 7,766 413 — — — — 8,179 Substandard 10,894 7,514 2,643 — 109 — 21,160 Total loans held for investment, gross $ 365,961 $ 347,020 $ 100,897 $ 8,191 $ 666 $ 244 $ 822,979 |
Derivative and Other Financia24
Derivative and Other Financial Instruments with Off-Balance Sheet Risks (Tables) | 9 Months Ended |
Mar. 31, 2016 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Schedule of Undisbursed Funds Commitments | The following table provides information at the dates indicated regarding undisbursed funds to borrowers on existing lines of credit with the Corporation as well as commitments to originate loans to be held for investment at the dates indicated below. Commitments March 31, 2016 June 30, 2015 (In Thousands) Undisbursed loan funds - Construction loans $ 8,648 $ 3,359 Undisbursed lines of credit – Mortgage loans 20 414 Undisbursed lines of credit – Commercial business loans 857 822 Undisbursed lines of credit – Consumer loans 678 708 Commitments to extend credit on loans to be held for investment 5,684 4,745 Total $ 15,887 $ 10,048 |
Schedule of Allowance for Loan Losses of Undisbursed Funds and Commitments on Loans Held for Investment | The following table provides information regarding the allowance for loan losses for the undisbursed funds and commitments to extend credit on loans to be held for investment for the quarters and nine months ended March 31, 2016 and 2015. For the Quarters For the Nine Months (In Thousands) 2016 2015 2016 2015 Balance, beginning of the period $ 149 $ 81 $ 76 $ 61 Provision (recovery) 4 (2 ) 77 18 Balance, end of the period $ 153 $ 79 $ 153 $ 79 |
Schedule of Impact of Derivative Financial Instruments on Gain on Sale of Loans | The net impact of derivative financial instruments on the gain on sale of loans contained in the Condensed Consolidated Statements of Operations during the quarters and nine months ended March 31, 2016 and 2015 was as follows: For the Quarters For the Nine Months Derivative Financial Instruments 2016 2015 2016 2015 (In Thousands) Commitments to extend credit on loans to be held for sale $ 1,866 $ 2,174 $ 1,537 $ 1,737 Mandatory loan sale commitments and TBA MBS trades (1,435 ) (1,112 ) (2,531 ) (1,789 ) Option contracts, net 85 (31 ) (87 ) (193 ) Total net gain (loss) $ 516 $ 1,031 $ (1,081 ) $ (245 ) |
Schedule of Outstanding Derivative Instruments | The outstanding derivative financial instruments and other loan sale agreements at the dates indicated were as follows: March 31, 2016 June 30, 2015 Derivative Financial Instruments Amount Fair Amount Fair (In Thousands) Commitments to extend credit on loans to be held for sale (1) $ 155,615 $ 3,036 $ 139,565 $ 1,499 Best efforts loan sale commitments (37,994 ) — (36,908 ) — Mandatory loan sale commitments and TBA MBS trades (270,007 ) (1,790 ) (320,197 ) 741 Option contracts, net (4,000 ) 24 4,000 192 Total $ (156,386 ) $ 1,270 $ (213,540 ) $ 2,432 (1) Net of 31.3% at March 31, 2016 and 26.9% at June 30, 2015 of commitments which management has estimated may not fund. |
Fair Value of Financial Instr25
Fair Value of Financial Instruments (Tables) | 9 Months Ended |
Mar. 31, 2016 | |
Fair Value Disclosures [Abstract] | |
Schedule of Aggregate Fair Value and Aggregate Unpaid Principal Balance of Loans Held for Sale | (In Thousands) Aggregate Fair Value Aggregate Unpaid Principal Balance Net Unrealized (Loss) Gain As of March 31, 2016: Loans held for investment, at fair value $ 4,583 $ 4,708 $ (125 ) Loans held for sale, at fair value $ 184,025 $ 177,088 $ 6,937 As of June 30, 2015: Loans held for investment, at fair value $ 4,518 $ 4,495 $ 23 Loans held for sale, at fair value $ 224,715 $ 219,143 $ 5,572 |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis | The following fair value hierarchy tables present information at the dates indicated about the Corporation’s assets measured at fair value on a recurring basis: Fair Value Measurement at March 31, 2016 Using: (In Thousands) Level 1 Level 2 Level 3 Total Assets: Investment securities - available for sale: U.S. government agency MBS $ — $ 6,947 $ — $ 6,947 U.S. government sponsored enterprise MBS — 4,450 — 4,450 Private issue CMO — — 617 617 Common stock - community development financial institution — 147 — 147 Investment securities - available for sale — 11,544 617 12,161 Loans held for investment, at fair value — — 4,583 4,583 Loans held for sale, at fair value — 184,025 — 184,025 Interest-only strips — — 50 50 Derivative assets: Commitments to extend credit on loans to be held for sale — — 3,037 3,037 Option contracts — — 24 24 Derivative assets — — 3,061 3,061 Total assets $ — $ 195,569 $ 8,311 $ 203,880 Liabilities: Derivative liabilities: Commitments to extend credit on loans to be held for sale $ — $ — $ 1 $ 1 Mandatory loan sale commitments — — 125 125 TBA MBS trades — 1,665 — 1,665 Derivative liabilities — 1,665 126 1,791 Total liabilities $ — $ 1,665 $ 126 $ 1,791 Fair Value Measurement at June 30, 2015 Using: (In Thousands) Level 1 Level 2 Level 3 Total Assets: Investment securities - available for sale: U.S. government agency MBS $ — $ 7,906 $ — $ 7,906 U.S. government sponsored enterprise MBS — 5,387 — 5,387 Private issue CMO — — 717 717 Common stock - community development financial institution — — 151 151 Investment securities - available for sale — 13,293 868 14,161 Loans held for investment, at fair value — 4,518 — 4,518 Loans held for sale, at fair value — 224,715 — 224,715 Interest-only strips — — 63 63 Derivative assets: Commitments to extend credit on loans to be held for sale — — 1,636 1,636 TBA MBS trades — 812 — 812 Option contracts — — 192 192 Derivative assets — 812 1,828 2,640 Total assets $ — $ 243,338 $ 2,759 $ 246,097 Liabilities: Derivative liabilities: Commitments to extend credit on loans to be held for sale $ — $ — $ 137 $ 137 Mandatory loan sale commitments — — 71 71 Derivative liabilities — — 208 208 Total liabilities $ — $ — $ 208 $ 208 |
Schedule for Reconciliation of Recurring Fair Value Measurements Using Level 3 Inputs | The following tables summarize reconciliations of the beginning and ending balances during the periods shown of recurring fair value measurements recognized in the Condensed Consolidated Statements of Financial Condition using Level 3 inputs: For the Quarter Ended March 31, 2016 Fair Value Measurement Using Significant Other Unobservable Inputs (Level 3) (In Thousands) Private Issue CMO Common stock (1) Loans Held For Investment, at fair value (2) Interest- Only Strips Loan Commit- ments to Originate (3) Manda- tory Commit- ments (4) Option Contracts Total Beginning balance at December 31, 2015 $ 654 $ 143 $ 4,210 $ 54 $ 1,170 $ (51 ) $ 24 $ 6,204 Total gains or losses (realized/ unrealized): Included in earnings — — 59 — 1,866 (105 ) 85 1,905 Included in other comprehensive income (loss) (5 ) 4 — (4 ) — — — (5 ) Purchases — — — — — — 82 82 Issuances — — — — — — — — Settlements (32 ) — (1,165 ) — — 31 (167 ) (1,333 ) Transfers in and/or out of Level 3 — (147 ) 1,479 — — — — 1,332 Ending balance at March 31, 2016 $ 617 $ — $ 4,583 $ 50 $ 3,036 $ (125 ) $ 24 $ 8,185 (1) Common stock of a community development financial institution. (2) The valuation of loans held for investment at fair value includes the management estimates of the specific credit risk attributes of each loan (Level 3), in addition to the quoted secondary-market prices which account for interest rate characteristics. (3) Consists of commitments to extend credit on loans to be held for sale. (4) Consists of mandatory loan sale commitments. For the Quarter Ended March 31, 2015 Fair Value Measurement Using Significant Other Unobservable Inputs (Level 3) (In Thousands) Private Issue CMO Common stock (1) Interest- Only Strips Loan Commit- ments to Originate (2) Manda- tory Commit- ments (3) Option Contracts Total Beginning balance at December 31, 2014 $ 799 $ 250 $ 64 $ 2,129 $ (86 ) $ 110 $ 3,266 Total gains or losses (realized/unrealized): Included in earnings — — — 2,174 (296 ) (31 ) 1,847 Included in other comprehensive (loss) income (2 ) — (1 ) — — — (3 ) Purchases — — — — — 368 368 Issuances — — — — — — — Settlements (21 ) — — — 20 (210 ) (211 ) Transfers in and/or out of Level 3 — — — — — — — Ending balance at March 31, 2015 $ 776 $ 250 $ 63 $ 4,303 $ (362 ) $ 237 $ 5,267 (1) Common stock of a community development financial institution. (2) Consists of commitments to extend credit on loans to be held for sale. (3) Consists of mandatory loan sale commitments. For the Nine Months Ended March 31, 2016 Fair Value Measurement Using Significant Other Unobservable Inputs (Level 3) (In Thousands) Private Issue CMO Common stock (1) Loans Held For Investment, at fair value (2) Interest- Only Strips Loan Commit- ments to Originate (3) Manda- tory Commit- ments (4) Option Contracts Total Beginning balance at June 30, 2015 $ 717 $ 151 $ — $ 63 $ 1,499 $ (71 ) $ 192 $ 2,551 Total gains or losses (realized/unrealized): Included in earnings — — (149 ) — 1,537 (101 ) (87 ) 1,200 Included in other comprehensive loss (7 ) (4 ) — (13 ) — — — (24 ) Purchases — — — — — — 222 222 Issuances — — — — — — — — Settlements (93 ) — (1,816 ) — — 47 (303 ) (2,165 ) Transfers in and/or out of Level 3 — (147 ) 6,548 — — — — 6,401 Ending balance at March 31, 2016 $ 617 $ — $ 4,583 $ 50 $ 3,036 $ (125 ) $ 24 $ 8,185 (1) Common stock of a community development financial institution. (2) The valuation of loans held for investment at fair value includes the management estimates of the specific credit risk attributes of each loan (Level 3), in addition to the quoted secondary-market prices which account for interest rate characteristics. (3) Consists of commitments to extend credit on loans to be held for sale. (4) Consists of mandatory loan sale commitments. For the Nine Months Ended March 31, 2015 Fair Value Measurement Using Significant Other Unobservable Inputs (Level 3) (In Thousands) Private Issue CMO Common stock (1) Interest- Only Strips Loan Commit- ments to originate (2) Manda- tory Commit- ments (3) Option Contracts Total Beginning balance at June 30, 2014 $ 853 $ — $ 62 $ 2,566 $ (93 ) $ — $ 3,388 Total gains or losses (realized/unrealized): Included in earnings — — — 1,737 (303 ) (193 ) 1,241 Included in other comprehensive (loss) income (7 ) — 1 — — — (6 ) Purchases — 250 — — — 689 939 Issuances — — — — — — — Settlements (70 ) — — — 34 (259 ) (295 ) Transfers in and/or out of Level 3 — — — — — — — Ending balance at March 31, 2015 $ 776 $ 250 $ 63 $ 4,303 $ (362 ) $ 237 $ 5,267 |
Schedule of Fair Value Assets Measured on Nonrecurring Basis | The following fair value hierarchy tables present information about the Corporation’s assets measured at fair value at the dates indicated on a nonrecurring basis: Fair Value Measurement at March 31, 2016 Using: (In Thousands) Level 1 Level 2 Level 3 Total Non-performing loans $ — $ 9,571 $ 2,690 $ 12,261 MSA — — 444 444 Real estate owned, net — 3,165 — 3,165 Total $ — $ 12,736 $ 3,134 $ 15,870 Fair Value Measurement at June 30, 2015 Using: (In Thousands) Level 1 Level 2 Level 3 Total Non-performing loans $ — $ 11,816 $ 2,130 $ 13,946 MSA — — 269 269 Real estate owned, net — 2,398 — 2,398 Total $ — $ 14,214 $ 2,399 $ 16,613 |
Schedule of Additional Information About Valuation Techniques and Inputs Used for Assets and Liabilities | The following table presents additional information about valuation techniques and inputs used for assets and liabilities, including derivative financial instruments, which are measured at fair value and categorized within Level 3 as of March 31, 2016: (Dollars In Thousands) Fair Value Valuation Techniques Unobservable Inputs Range (1) (Weighted Average) Impact to Valuation from an Increase in Inputs (2) Assets: Securities available - for sale: Private issue CMO $ 617 Market comparable pricing Comparability adjustment (0.9)% – 0.6% (0.3%) Increase Loans held for investment, at fair value $ 4,583 Relative value Broker quotes 100.0% – 106.7% Increase Non-performing loans $ 78 Discounted cash flow Default rates 5.0% Decrease Non-performing loans $ 2,612 Relative value analysis Loss severity 20.0% - 45.0% (24.9%) Decrease MSA $ 444 Discounted cash flow Prepayment speed (CPR) Discount rate 14.1% - 60.0% (19.4%) Decrease Interest-only strips $ 50 Discounted cash flow Prepayment speed (CPR) Discount rate 17.6% - 23.7% (18.2%) Decrease Commitments to extend credit on loans to be held for sale $ 3,037 Relative value analysis TBA-MBS broker quotes Fall-out ratio (4) 98.6% – 105.4% Increase Option contracts $ 24 Relative value analysis Broker quotes 130.4% of par Increase Liabilities: Commitments to extend credit on loans to be held for sale $ 1 Relative value analysis TBA-MBS broker quotes Fall-out ratio (4) 104.0% – 104.6% Increase Mandatory loan sale commitments $ 125 Relative value analysis TBA MBS broker quotes Roll-forward costs (5) 102.3% - 106.8% Decrease (1) The range is based on the estimated fair values and management estimates. (2) Unless otherwise noted, this column represents the directional change in the fair value of the Level 3 investments that would result from an increase to the corresponding unobservable input. A decrease to the unobservable input would have the opposite effect. Significant changes in these inputs in isolation could result in significantly higher or lower fair value measurements. (3) Common stock of a community development financial institution. (4) The percentage of commitments to extend credit on loans to be held for sale which management has estimated may not fund. (5) An estimated cost to roll forward the mandatory loan sale commitments which management has estimated may not be delivered to the corresponding investors in a timely manner. |
Schedule of Carrying Amount and Fair Value of Financial Instruments | The carrying amount and fair value of the Corporation’s other financial instruments as of March 31, 2016 and June 30, 2015 was as follows: March 31, 2016 (In Thousands) Carrying Fair Financial assets: Investment securities - held to maturity $ 21,014 $ 21,163 — $ 21,163 $ — Loans held for investment, not recorded at fair value $ 800,984 $ 807,288 — — $ 807,288 FHLB – San Francisco stock $ 8,094 $ 8,094 — $ 8,094 — Financial liabilities: Deposits $ 927,065 $ 895,760 — — $ 895,760 Borrowings $ 91,317 $ 94,671 — — $ 94,671 June 30, 2015 (In Thousands) Carrying Fair Financial assets: Loans held for investment, not recorded at fair value $ 809,716 $ 815,385 — — $ 815,385 FHLB – San Francisco stock $ 8,094 $ 8,094 — $ 8,094 — Financial liabilities: Deposits $ 924,086 $ 895,664 — — $ 895,664 Borrowings $ 91,367 $ 93,219 — — $ 93,219 |
Reclassification Adjustment o26
Reclassification Adjustment of Accumulated Other Comprehensive Income ("AOCI") (Tables) | 9 Months Ended |
Mar. 31, 2016 | |
Equity [Abstract] | |
Schedule of Accumulated Other Comprehensive Income | The following tables provide the changes in AOCI by component for the quarters and nine months ended March 31, 2016 and 2015. For the Quarter Ended March 31, 2016 Unrealized gains and losses on (In Thousands) Investment securities available for sale Interest-only strips Total Beginning balance at December 31, 2015 $ 215 $ 31 $ 246 Other comprehensive income (loss) before reclassifications 76 (60 ) 16 Amount reclassified from accumulated other comprehensive income — — — Net other comprehensive income (loss) 76 (60 ) 16 Ending balance at March 31, 2016 $ 291 $ (29 ) $ 262 |
Offsetting Derivative and Oth27
Offsetting Derivative and Other Financial Instruments (Tables) | 9 Months Ended |
Mar. 31, 2016 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | As of March 31, 2016: Gross Net Amount Amount Offset in the of Assets in Gross Amount Not Offset in Condensed the Condensed the Condensed Consolidated Gross Consolidated Consolidated Statements of Financial Condition Amount of Statements Statements Cash Recognized of Financial of Financial Financial Collateral Net (In Thousands) Assets Condition Condition Instruments Received Amount Assets Derivatives $ 24 $ 24 $ — $ — $ — $ — Total $ 24 $ 24 $ — $ — $ — $ — Gross Net Amount Amount Offset in the of Liabilities in Gross Amount Not Offset in Condensed the Condensed the Condensed Consolidated Gross Consolidated Consolidated Statements of Financial Condition Amount of Statements Statements Cash Recognized of Financial of Financial Financial Collateral Net (In Thousands) Liabilities Condition Condition Instruments Received Amount Liabilities Derivatives $ 1,790 $ 24 $ 1,766 $ — $ — $ 1,766 Total $ 1,790 $ 24 $ 1,766 $ — $ — $ 1,766 As of June 30, 2015: Gross Net Amount Amount Offset in the of Assets in Gross Amount Not Offset in Condensed the Condensed the Condensed Consolidated Gross Consolidated Consolidated Statements of Financial Condition Amount of Statements Statements Cash Recognized of Financial of Financial Financial Collateral Net (In Thousands) Assets Condition Condition Instruments Received Amount Assets Derivatives $ 1,004 $ — $ 1,004 $ — $ — $ 1,004 Total $ 1,004 $ — $ 1,004 $ — $ — $ 1,004 Gross Net Amount Amount Offset in the of Liabilities in Gross Amount Not Offset in Condensed the Condensed the Condensed Consolidated Gross Consolidated Consolidated Statements of Financial Condition Amount of Statements Statements Cash Recognized of Financial of Financial Financial Collateral Net (In Thousands) Liabilities Condition Condition Instruments Received Amount Liabilities Derivatives $ 71 $ — $ 71 $ — $ — $ 71 Total $ 71 $ — $ 71 $ — $ — $ 71 |
Earnings Per Share (Details)
Earnings Per Share (Details) - shares | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Stock options, outstanding | 943,500 | 1,100,000 |
Restricted Stock Shares | 190,000 | 265,000 |
Stock Options [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Antidilutive securities excluded from computation of earnings per share | 216,500 | 246,500 |
Earnings Per Share_ Schedule of
Earnings Per Share: Schedule of Earnings Per Share, Basic and Diluted (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | Mar. 31, 2016 | Mar. 31, 2015 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Net income – numerator for basic earnings per share and diluted earnings per share - available to common stockholders | $ 1,494 | $ 2,600 | $ 4,919 | $ 7,318 |
Weighted-average shares, Basic | 8,318 | 8,940 | 8,427 | 9,106 |
Adjusted weighted-average shares and assumed conversions | 8,516 | 9,106 | 8,620 | 9,272 |
Basic earnings per share (in dollars per share) | $ 0.18 | $ 0.29 | $ 0.58 | $ 0.80 |
Diluted earnings per share (in dollars per share) | $ 0.18 | $ 0.29 | $ 0.57 | $ 0.79 |
Stock Options [Member] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Effect of dilutive securities | 132 | 96 | 129 | 110 |
Restricted Stock [Member] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Effect of dilutive securities | 66 | 70 | 64 | 56 |
Operating Segment Reports (Deta
Operating Segment Reports (Details) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Mar. 31, 2016USD ($) | Mar. 31, 2015USD ($) | Mar. 31, 2016USD ($)segment | Mar. 31, 2015USD ($) | Jun. 30, 2015USD ($) | |
Number of operating segments | segment | 2 | ||||
Net interest income | $ 7,912 | $ 8,378 | $ 23,567 | $ 24,425 | |
Recovery from the allowance for loan losses | (694) | (111) | (1,094) | (1,283) | |
Net interest income, after recovery from the allowance for loan losses | 8,606 | 8,489 | 24,661 | 25,708 | |
Loan servicing and other fees | 383 | 264 | 800 | 823 | |
(Loss) gain on sale of loans, net | 7,145 | 9,754 | 22,113 | 25,448 | |
Deposit account fees | 590 | 607 | 1,790 | 1,837 | |
Loss on sale and operations of real estate owned acquired in the settlement of loans, net | (276) | 58 | (12) | (12) | |
Card and processing fees | 355 | 338 | 1,069 | 1,030 | |
Other | 227 | 248 | 711 | 750 | |
Total non-interest income | 8,424 | 11,269 | 26,471 | 29,876 | |
Salaries and employee benefits | 10,630 | 10,950 | 31,393 | 30,481 | |
Premises and occupancy | 1,146 | 1,106 | 3,424 | 3,604 | |
Operating and administrative expenses | 2,709 | 3,112 | 7,887 | 8,734 | |
Total non-interest expense | 14,485 | 15,168 | 42,704 | 42,819 | |
Income before income taxes | 2,545 | 4,590 | 8,428 | 12,765 | |
Provision for income taxes | 1,051 | 1,990 | 3,509 | 5,447 | |
Net income | 1,494 | 2,600 | 4,919 | 7,318 | |
Total assets, end of period | 1,173,751 | 1,213,791 | 1,173,751 | 1,213,791 | $ 1,174,555 |
Loan Origination Fees | |||||
Inter-company charge | 135 | 54 | 303 | 356 | |
Loan Servicing Fees | |||||
Inter-company charge | 53 | 32 | 352 | 107 | |
Provident Bank | |||||
Net interest income | 6,915 | 7,023 | 20,519 | 20,843 | |
Recovery from the allowance for loan losses | (690) | 64 | (1,031) | (1,199) | |
Net interest income, after recovery from the allowance for loan losses | 7,605 | 6,959 | 21,550 | 22,042 | |
Loan servicing and other fees | 126 | 153 | 458 | 246 | |
(Loss) gain on sale of loans, net | 34 | (29) | 34 | 117 | |
Deposit account fees | 590 | 607 | 1,790 | 1,837 | |
Loss on sale and operations of real estate owned acquired in the settlement of loans, net | (231) | 58 | 28 | (11) | |
Card and processing fees | 355 | 338 | 1,069 | 1,030 | |
Other | 227 | 248 | 711 | 750 | |
Total non-interest income | 1,101 | 1,375 | 4,090 | 3,969 | |
Salaries and employee benefits | 4,761 | 4,743 | 13,569 | 13,538 | |
Premises and occupancy | 720 | 679 | 2,164 | 2,267 | |
Operating and administrative expenses | 1,232 | 1,203 | 3,467 | 3,452 | |
Total non-interest expense | 6,713 | 6,625 | 19,200 | 19,257 | |
Income before income taxes | 1,993 | 1,709 | 6,440 | 6,754 | |
Provision for income taxes | 819 | 764 | 2,673 | 2,919 | |
Net income | 1,174 | 945 | 3,767 | 3,835 | |
Total assets, end of period | 989,538 | 906,378 | 989,538 | 906,378 | |
Provident Bank Mortgage | |||||
Net interest income | 997 | 1,355 | 3,048 | 3,582 | |
Recovery from the allowance for loan losses | (4) | (175) | (63) | (84) | |
Net interest income, after recovery from the allowance for loan losses | 1,001 | 1,530 | 3,111 | 3,666 | |
Loan servicing and other fees | 257 | 111 | 342 | 577 | |
(Loss) gain on sale of loans, net | 7,111 | 9,783 | 22,079 | 25,331 | |
Deposit account fees | 0 | 0 | 0 | 0 | |
Loss on sale and operations of real estate owned acquired in the settlement of loans, net | (45) | 0 | (40) | (1) | |
Card and processing fees | 0 | 0 | 0 | 0 | |
Other | 0 | 0 | 0 | 0 | |
Total non-interest income | 7,323 | 9,894 | 22,381 | 25,907 | |
Salaries and employee benefits | 5,869 | 6,207 | 17,824 | 16,943 | |
Premises and occupancy | 426 | 427 | 1,260 | 1,337 | |
Operating and administrative expenses | 1,477 | 1,909 | 4,420 | 5,282 | |
Total non-interest expense | 7,772 | 8,543 | 23,504 | 23,562 | |
Income before income taxes | 552 | 2,881 | 1,988 | 6,011 | |
Provision for income taxes | 232 | 1,226 | 836 | 2,528 | |
Net income | 320 | 1,655 | 1,152 | 3,483 | |
Total assets, end of period | $ 184,213 | $ 307,413 | $ 184,213 | $ 307,413 |
Investment Securities_ Schedule
Investment Securities: Schedule of Available-for-sale Securities Reconciliation (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||
Mar. 31, 2016 | Mar. 31, 2015 | Mar. 31, 2016 | Mar. 31, 2015 | Jun. 30, 2015 | Jun. 30, 2014 | ||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Total Investment Securities, Amortized Cost Basis | $ 32,772 | $ 32,772 | $ 14,454 | ||||
Proceeds from Maturities, Prepayments and Calls of Mortgage Backed Securities (MBS) | 1,100 | $ 331 | 2,409 | $ 1,628 | |||
Amortized Cost | 11,758 | 11,758 | 13,654 | ||||
Held-to-maturity Securities, Gross Gains, Derivatives | 149 | $ 0 | |||||
Held-to-maturity Securities, Gross Losses, Derivatives | 0 | 0 | |||||
Held-to-maturity Securities | 21,014 | 21,014 | 800 | 800 | |||
Held-to-maturity Securities, Fair Value | 21,163 | 21,163 | 800 | ||||
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment | 21,014 | 21,014 | 800 | ||||
Gross Unrealized Gains | 507 | 606 | |||||
Gross Unrealized (Losses) | (104) | (99) | |||||
Investment securities – available for sale, at fair value | 12,161 | 12,161 | 14,161 | 14,161 | |||
Carrying Value | 12,161 | 12,161 | 14,161 | 14,161 | |||
Total Investment Securities, Gross Unrealized Gains | 656 | 606 | |||||
Total Investment Securities, Gross Unrealized Losses | 104 | 99 | |||||
Total Investment Securites | 33,324 | 33,324 | 14,961 | ||||
Total Investment Securities, Carrying Value | 33,175 | 33,175 | 14,961 | ||||
Common Stock, community development financial institution [Member] | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Amortized Cost | [1] | 250 | 250 | 250 | |||
Gross Unrealized Gains | [1] | 0 | 0 | ||||
Gross Unrealized (Losses) | [1] | (103) | (99) | ||||
Investment securities – available for sale, at fair value | 147 | 147 | 151 | ||||
Carrying Value | 147 | 147 | 151 | ||||
Certificates of Deposit [Member] | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Held-to-maturity Securities, Gross Gains, Derivatives | 0 | 0 | |||||
Held-to-maturity Securities, Gross Losses, Derivatives | 0 | 0 | |||||
Held-to-maturity Securities | 800 | 800 | 800 | ||||
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment | 800 | 800 | 800 | ||||
Categories of Investments, Marketable Securities, Available-for-sale Securities [Member] | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Investment securities – available for sale, at fair value | 12,161 | 12,161 | 14,161 | ||||
Carrying Value | 12,161 | 12,161 | 14,161 | ||||
U.S. government agency MBS | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Amortized Cost | [2] | 6,674 | 6,674 | 7,613 | |||
Gross Unrealized Gains | [2] | 273 | 293 | ||||
Gross Unrealized (Losses) | [2] | 0 | 0 | ||||
Investment securities – available for sale, at fair value | 6,947 | 6,947 | 7,906 | ||||
Carrying Value | 6,947 | 6,947 | 7,906 | ||||
U.S. government sponsored enterprise MBS | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Payments to Acquire Mortgage Backed Securities (MBS) categorized as Held-to-maturity | 10,600 | 20,800 | |||||
Amortized Cost | 4,219 | 4,219 | 5,083 | ||||
Held-to-maturity Securities, Gross Gains, Derivatives | 149 | ||||||
Held-to-maturity Securities, Gross Losses, Derivatives | 0 | ||||||
Held-to-maturity Securities | 20,214 | 20,214 | |||||
Held-to-maturity Securities, Fair Value | 20,363 | 20,363 | |||||
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment | 20,214 | 20,214 | |||||
Gross Unrealized Gains | 231 | 304 | |||||
Gross Unrealized (Losses) | 0 | 0 | |||||
Investment securities – available for sale, at fair value | 4,450 | 4,450 | 5,387 | ||||
Carrying Value | 4,450 | 4,450 | 5,387 | ||||
Collateralized Mortgage Obligations [Member] | |||||||
Schedule of Available-for-sale Securities [Line Items] | |||||||
Amortized Cost | [1] | 615 | 615 | 708 | |||
Gross Unrealized Gains | [1] | 3 | 9 | ||||
Gross Unrealized (Losses) | [1] | (1) | $ 0 | ||||
Investment securities – available for sale, at fair value | 617 | 617 | 717 | ||||
Carrying Value | $ 617 | $ 617 | $ 717 | ||||
[1] | Collateralized Mortgage Obligations (“CMO”). | ||||||
[2] | Mortgage-Backed Securities (“MBS”). |
Investment Securities_ Mortgage
Investment Securities: Mortgage Backed Securities Policy (Details) security in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Mar. 31, 2016USD ($) | Mar. 31, 2015USD ($) | Mar. 31, 2016USD ($) | Mar. 31, 2015USD ($) | Jun. 30, 2014security | |
Schedule of Available-for-sale Securities [Line Items] | |||||
Principal payments from investment securities available for sale | $ 1,100 | $ 331 | $ 2,409 | $ 1,628 | |
purchase of common stock in community development financial institution | 250 | ||||
Other-than-temporary impairments, investments | 0 | $ 0 | 0 | $ 0 | |
U.S. government sponsored enterprise MBS | |||||
Schedule of Available-for-sale Securities [Line Items] | |||||
Payments to Acquire Mortgage Backed Securities (MBS) categorized as Held-to-maturity | $ 10,600 | $ 20,800 | |||
Available for sale | Private issue CMO | |||||
Schedule of Available-for-sale Securities [Line Items] | |||||
Number of investment securities held | security | 104 |
Investment Securities Investmen
Investment Securities Investment Securities: Investments with Unrealized Loss Positions (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2016 | Jun. 30, 2015 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | $ 251 | $ 151 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Loss | 104 | 99 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 0 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Loss | 0 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 251 | 151 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss | 104 | 99 |
Mortgage-backed Securities, Issued by Private Enterprises [Member] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 104 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Loss | 1 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 0 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Loss | 0 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 104 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss | 1 | |
Common Stock | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 147 | 151 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Loss | 103 | 99 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 0 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Loss | 0 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 147 | 151 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss | $ 103 | $ 99 |
Investment Securities_ Schedu34
Investment Securities: Schedule of Available for Sale Securities by Contractual Maturity (Details) - USD ($) $ in Thousands | Mar. 31, 2016 | Jun. 30, 2015 | Jun. 30, 2014 |
Held-to-maturity Securities, Debt Maturities, within One Year, Net Carrying Amount | $ 800 | $ 800 | |
Held-to-maturity Securities, Debt Maturities, Next Twelve Months, Fair Value | 800 | 800 | |
Held-to-maturity Securities, Debt Maturities, after One Through Five Years, Net Carrying Amount | 0 | 0 | |
Held-to-maturity Securities, Debt Maturities, Year Two Through Five, Fair Value | 0 | 0 | |
Held-to-maturity Securities, Debt Maturities, after Five Through Ten Years, Net Carrying Amount | 20,214 | 0 | |
Held-to-maturity Securities, Debt Maturities, Year Six Through Ten, Fair Value | 20,363 | 0 | |
Held-to-maturity Securities, Debt Maturities, after Ten Years, Net Carrying Amount | 0 | 0 | |
Held-to-maturity Securities, Debt Maturities, after Ten Years, Fair Value | 0 | 0 | |
Investment securities – held to maturity, at cost | 21,014 | 800 | $ 800 |
Held-to-maturity Securities, Fair Value | 21,163 | 800 | |
Available-for-sale Securities | 12,161 | $ 14,161 | 14,161 |
Total Investment Securities, Amortized Cost Basis | 32,772 | 14,454 | |
Total Investment Securites | 33,324 | 14,961 | |
Available for sale | |||
Due in one year or less, Amortized Cost | 0 | 0 | |
Due after one through five years, Amortized Cost | 0 | 0 | |
Due after five through ten years, Amortized Cost | 0 | 0 | |
Due after ten years, Amortized Cost | 11,508 | 13,404 | |
Total investment securities, Amortized Cost | 11,758 | 13,654 | |
Available-for-sale Securities | 12,161 | 14,161 | |
Due in one year of less, Estimated Fair Value | 0 | 0 | |
Due after one through five years, Estimated Fair Value | 0 | 0 | |
Due after five through ten years, Estimated Fair Value | 0 | 0 | |
Due after ten years, Estimated Fair Value | 12,014 | 14,010 | |
Available-for-sale Securities, Debt Maturities, without Single Maturity Date, Amortized Cost Basis | 250 | 250 | |
Total investment securities, Estimated Fair Value | $ 147 | $ 151 |
Loans Held For Investment_ Sche
Loans Held For Investment: Schedule of Loans Held for Investment (Details) - USD ($) $ in Thousands | Mar. 31, 2016 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Sep. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2011 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Total loans held for investment, gross | $ 818,485 | $ 822,979 | |||||
Loans and Leases Receivable, Loans in Process | (8,648) | (3,360) | |||||
Escrow Deposit | 247 | 199 | |||||
Deferred loan costs, net | 3,683 | 3,140 | |||||
Allowance for loan losses | (8,200) | $ (8,768) | (8,724) | $ (8,712) | $ (8,693) | $ (9,744) | $ (9,744) |
Total loans held for investment, net | 805,567 | 814,234 | |||||
Mortgage loans, Single-family | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Total loans held for investment, gross | 335,797 | 365,961 | |||||
Mortgage loans, Multi-family | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Total loans held for investment, gross | 378,871 | 347,020 | |||||
Commercial Real Estate [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Total loans held for investment, gross | 93,384 | 100,897 | |||||
Construction Loans [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Total loans held for investment, gross | 9,679 | 8,191 | |||||
Mortgage Loans, Other [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Total loans held for investment, gross | 72 | 0 | |||||
Commercial Business Loans | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Total loans held for investment, gross | 452 | 666 | |||||
Consumer Loans | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Total loans held for investment, gross | $ 230 | $ 244 |
Loans Held For Investment_ Narr
Loans Held For Investment: Narrative (Details) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||
Mar. 31, 2016USD ($)loanproperty | Jun. 30, 2015USD ($)loan | Mar. 31, 2015USD ($)property | Mar. 31, 2016USD ($)loanproperty | Mar. 31, 2015USD ($)property | Jun. 30, 2015USD ($)loan | Jun. 30, 2014 | |
Number of Previously Foreclosed Properties Sold | property | 3 | 2 | 6 | 6 | |||
Financing Receivable, Modifications, Number of Contracts | loan | 14 | 18 | |||||
Financing Receivable, Recorded Investment, Nonaccrual Status | $ 4,622,000 | $ 5,603,000 | $ 4,622,000 | $ 5,603,000 | |||
Financing Receivable, Recorded Investment, Accrual Status | 1,114,000 | 989,000 | 1,114,000 | 989,000 | |||
Financing Receivable, Modifications, Recorded Investment | $ 5,736,000 | 6,592,000 | 5,736,000 | 6,592,000 | |||
Financing Receivable, Modifications, Number of Contracts, Extending Beyond Initial Maturity | loan | 0 | ||||||
Impaired Financing Receivable, Average Recorded Investment | $ 12,752,000 | $ 11,296,000 | 13,999,000 | $ 13,246,000 | |||
Loans held for investment | 818,485,000 | $ 822,979,000 | $ 818,485,000 | $ 822,979,000 | |||
Loan interest income added to negative amortization loan balance | $ 0 | 0 | |||||
Interest-only ARM loans as percent of loans held for investment | 10.80% | 18.60% | 10.80% | 18.60% | |||
Fixed-rate loans as a percentage of total loans held for investment | 3.00% | 4.00% | 3.00% | 4.00% | 3.00% | ||
Impaired Financing Receivable, Interest Income, Cash Basis Method | $ 50,000 | $ 187,000 | 255,000 | ||||
Loans and Leases Receivable, Impaired, Interest Lost on Nonaccrual Loans | $ 19,000 | $ 87,000 | $ 123,000 | $ 292,000 | |||
Percent of Total Restructured Loans on Current Status | 50.00% | 74.00% | 50.00% | 74.00% | |||
Loans and Leases Receivable, Impaired, Commitment to Lend | $ 0 | $ 0 | $ 0 | $ 0 | |||
First Trust Deed Loans | |||||||
Loans deemed uncollectible, period of delinquency | 150 days | ||||||
Commercial Business or Second Trust Deed Loans | |||||||
Loans deemed uncollectible, period of delinquency | 120 days | ||||||
Troubled Debt Restructurings | |||||||
Loans deemed uncollectible, period of delinquency | 90 days | ||||||
Bankruptcy | |||||||
Loans deemed uncollectible, period of delinquency | 60 days | ||||||
Minimum | |||||||
Loan principal, increase due to negative amortization, as a percentage of original loan amount | 110.00% | ||||||
Adjustable Rate Mortgage, Term of Fixed Interest Rate | 2 years | ||||||
Maximum | |||||||
Loan principal, increase due to negative amortization, as a percentage of original loan amount | 115.00% | ||||||
Adjustable Rate Mortgage, Term of Fixed Interest Rate | 5 years | ||||||
Segregated restructured loans, period of delinquency | 90 days | ||||||
Maximum | Bankruptcy | |||||||
Allowance for loan losses, pooling method, period of delinquency | 60 days | ||||||
Mortgage Loans on Real Estate | Subject to Negative Amortization | |||||||
Loans held for investment | 10,300,000 | 14,100,000 | $ 10,300,000 | 14,100,000 | |||
Mortgage loans, Multi-family | |||||||
Loans held for investment | 378,871,000 | 347,020,000 | 378,871,000 | 347,020,000 | |||
Mortgage loans, Multi-family | Subject to Negative Amortization | |||||||
Loans held for investment | 7,000,000 | 10,700,000 | 7,000,000 | 10,700,000 | |||
Mortgage loans, Single-family | |||||||
Loans held for investment | 335,797,000 | 365,961,000 | 335,797,000 | 365,961,000 | |||
Held-to-maturity Securities, Transferred Security, at Carrying Value | $ 4,600,000 | $ 4,500,000 | $ 4,600,000 | $ 4,500,000 | |||
Loans, held for investment, originated for sale, subsequently transferred | 19 | 13 | 19 | 13 | |||
Mortgage loans, Single-family | Subject to Negative Amortization | |||||||
Loans held for investment | $ 3,100,000 | $ 3,200,000 | $ 3,100,000 | $ 3,200,000 | |||
Commercial Real Estate [Member] | |||||||
Loans held for investment | 93,384,000 | 100,897,000 | 93,384,000 | 100,897,000 | |||
Commercial Real Estate [Member] | Subject to Negative Amortization | |||||||
Loans held for investment | 184,000 | 227,000 | 184,000 | 227,000 | |||
Adjustable Rate Residential Mortgage | |||||||
Loans held for investment | 88,000,000 | 152,600,000 | 88,000,000 | 152,600,000 | |||
Special Mention [Member] | |||||||
Loans held for investment | $ 6,684,000 | $ 8,179,000 | 6,684,000 | 8,179,000 | |||
Special Mention [Member] | Restructured loans on accrual status | |||||||
Financing Receivable, Modifications, Number of Contracts | loan | 2 | 2 | |||||
Financing Receivable, Recorded Investment, Accrual Status | $ 1,100,000 | $ 989,000 | 1,100,000 | 989,000 | |||
Special Mention [Member] | Mortgage loans, Multi-family | |||||||
Loans held for investment | 930,000 | 413,000 | 930,000 | 413,000 | |||
Special Mention [Member] | Mortgage loans, Single-family | |||||||
Loans held for investment | 5,754,000 | 7,766,000 | 5,754,000 | 7,766,000 | |||
Special Mention [Member] | Commercial Real Estate [Member] | |||||||
Loans held for investment | $ 0 | $ 0 | 0 | 0 | |||
Substandard [Member] | |||||||
Financing Receivable, Modifications, Number of Contracts | loan | 12 | 16 | |||||
Financing Receivable, Recorded Investment, Nonaccrual Status | $ 4,600,000 | $ 5,600,000 | 4,600,000 | 5,600,000 | |||
Loans held for investment | 14,079,000 | 21,160,000 | 14,079,000 | 21,160,000 | |||
Substandard [Member] | Mortgage loans, Multi-family | |||||||
Loans held for investment | 2,404,000 | 7,514,000 | 2,404,000 | 7,514,000 | |||
Substandard [Member] | Mortgage loans, Single-family | |||||||
Loans held for investment | 10,658,000 | 10,894,000 | 10,658,000 | 10,894,000 | |||
Substandard [Member] | Commercial Real Estate [Member] | |||||||
Loans held for investment | 919,000 | 2,643,000 | 919,000 | 2,643,000 | |||
Current [Member] | |||||||
Financing Receivable, Modifications, Recorded Investment | $ 2,900,000 | $ 4,900,000 | $ 2,900,000 | $ 4,900,000 |
Loans Held For Investment_ Sc37
Loans Held For Investment: Schedule of Loans Held for Investment Contractually Repricing (Details) - USD ($) $ in Thousands | Mar. 31, 2016 | Jun. 30, 2015 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, Fixed Rate | $ 23,115 | |
Total loans held for investment, gross | 818,485 | $ 822,979 |
Mortgage loans, Single-family | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, Fixed Rate | 13,496 | |
Total loans held for investment, gross | 335,797 | 365,961 |
Mortgage loans, Multi-family | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, Fixed Rate | 3,018 | |
Total loans held for investment, gross | 378,871 | 347,020 |
Commercial Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, Fixed Rate | 3,542 | |
Total loans held for investment, gross | 93,384 | 100,897 |
Construction Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, Fixed Rate | 2,645 | |
Total loans held for investment, gross | 9,679 | 8,191 |
Mortgage Loans, Other [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans held for investment, gross | 72 | 0 |
Notes, Loans and Financing Receivable, Gross, Noncurrent | 72 | |
Commercial Business Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, Fixed Rate | 338 | |
Total loans held for investment, gross | 452 | 666 |
Consumer Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, Fixed Rate | 4 | |
Total loans held for investment, gross | 230 | $ 244 |
Within One Year | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, Adjustable Rate | 339,735 | |
Within One Year | Mortgage loans, Single-family | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, Adjustable Rate | 257,665 | |
Within One Year | Mortgage loans, Multi-family | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, Adjustable Rate | 68,092 | |
Within One Year | Commercial Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, Adjustable Rate | 6,604 | |
Within One Year | Construction Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, Adjustable Rate | 7,034 | |
Within One Year | Commercial Business Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, Adjustable Rate | 114 | |
Within One Year | Consumer Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, Adjustable Rate | 226 | |
After One Year Through 3 Years | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, Adjustable Rate | 175,315 | |
After One Year Through 3 Years | Mortgage loans, Single-family | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, Adjustable Rate | 7,121 | |
After One Year Through 3 Years | Mortgage loans, Multi-family | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, Adjustable Rate | 127,701 | |
After One Year Through 3 Years | Commercial Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, Adjustable Rate | 40,493 | |
After One Year Through 3 Years | Construction Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, Adjustable Rate | 0 | |
After One Year Through 3 Years | Commercial Business Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, Adjustable Rate | 0 | |
After One Year Through 3 Years | Consumer Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, Adjustable Rate | 0 | |
After 3 Years Through 5 Years | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, Adjustable Rate | 273,814 | |
After 3 Years Through 5 Years | Mortgage loans, Single-family | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, Adjustable Rate | 56,836 | |
After 3 Years Through 5 Years | Mortgage loans, Multi-family | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, Adjustable Rate | 174,233 | |
After 3 Years Through 5 Years | Commercial Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, Adjustable Rate | 42,745 | |
After 3 Years Through 5 Years | Construction Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, Adjustable Rate | 0 | |
After 3 Years Through 5 Years | Commercial Business Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, Adjustable Rate | 0 | |
After 3 Years Through 5 Years | Consumer Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, Adjustable Rate | 0 | |
After 5 Years Through 10 Years | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, Adjustable Rate | 6,506 | |
After 5 Years Through 10 Years | Mortgage loans, Single-family | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, Adjustable Rate | 679 | |
After 5 Years Through 10 Years | Mortgage loans, Multi-family | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, Adjustable Rate | 5,827 | |
After 5 Years Through 10 Years | Commercial Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, Adjustable Rate | 0 | |
After 5 Years Through 10 Years | Construction Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, Adjustable Rate | 0 | |
After 5 Years Through 10 Years | Commercial Business Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, Adjustable Rate | 0 | |
After 5 Years Through 10 Years | Consumer Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable, Adjustable Rate | 0 | |
Adjustable Rate [Member] | Within One Year | Mortgage Loans, Other [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes, Loans and Financing Receivable, Gross, Noncurrent | 0 | |
Adjustable Rate [Member] | After One Year Through 3 Years | Mortgage Loans, Other [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes, Loans and Financing Receivable, Gross, Noncurrent | 0 | |
Adjustable Rate [Member] | After 3 Years Through 5 Years | Mortgage Loans, Other [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes, Loans and Financing Receivable, Gross, Noncurrent | 0 | |
Adjustable Rate [Member] | After 5 Years Through 10 Years | Mortgage Loans, Other [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes, Loans and Financing Receivable, Gross, Noncurrent | 0 | |
Fixed Rate [Member] | Mortgage Loans, Other [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Notes, Loans and Financing Receivable, Gross, Noncurrent | $ 72 |
Loans Held For Investment Loans
Loans Held For Investment Loans Held For Investment: Schedule of Gross Loans Held for Investment by Loan Types and Risk Category (Details) - USD ($) $ in Thousands | Mar. 31, 2016 | Jun. 30, 2015 |
Loans and Leases Receivable, Gross | $ 818,485 | $ 822,979 |
Mortgage loans, Single-family | ||
Loans and Leases Receivable, Gross | 335,797 | 365,961 |
Mortgage loans, Multi-family | ||
Loans and Leases Receivable, Gross | 378,871 | 347,020 |
Commercial Real Estate [Member] | ||
Loans and Leases Receivable, Gross | 93,384 | 100,897 |
Construction Loans [Member] | ||
Loans and Leases Receivable, Gross | 9,679 | 8,191 |
Mortgage Loans, Other [Member] | ||
Loans and Leases Receivable, Gross | 72 | 0 |
Commercial Portfolio Segment [Member] | ||
Loans and Leases Receivable, Gross | 452 | 666 |
Consumer Loans | ||
Loans and Leases Receivable, Gross | 230 | 244 |
Pass [Member] | ||
Loans and Leases Receivable, Gross | 797,722 | 793,640 |
Pass [Member] | Mortgage loans, Single-family | ||
Loans and Leases Receivable, Gross | 319,385 | 347,301 |
Pass [Member] | Mortgage loans, Multi-family | ||
Loans and Leases Receivable, Gross | 375,537 | 339,093 |
Pass [Member] | Commercial Real Estate [Member] | ||
Loans and Leases Receivable, Gross | 92,465 | 98,254 |
Pass [Member] | Construction Loans [Member] | ||
Loans and Leases Receivable, Gross | 9,679 | 8,191 |
Pass [Member] | Mortgage Loans, Other [Member] | ||
Loans and Leases Receivable, Gross | 72 | |
Pass [Member] | Commercial Portfolio Segment [Member] | ||
Loans and Leases Receivable, Gross | 354 | 557 |
Pass [Member] | Consumer Loans | ||
Loans and Leases Receivable, Gross | 230 | 244 |
Special Mention [Member] | ||
Loans and Leases Receivable, Gross | 6,684 | 8,179 |
Special Mention [Member] | Mortgage loans, Single-family | ||
Loans and Leases Receivable, Gross | 5,754 | 7,766 |
Special Mention [Member] | Mortgage loans, Multi-family | ||
Loans and Leases Receivable, Gross | 930 | 413 |
Special Mention [Member] | Commercial Real Estate [Member] | ||
Loans and Leases Receivable, Gross | 0 | 0 |
Special Mention [Member] | Construction Loans [Member] | ||
Loans and Leases Receivable, Gross | 0 | 0 |
Special Mention [Member] | Mortgage Loans, Other [Member] | ||
Loans and Leases Receivable, Gross | 0 | |
Special Mention [Member] | Commercial Portfolio Segment [Member] | ||
Loans and Leases Receivable, Gross | 0 | 0 |
Special Mention [Member] | Consumer Loans | ||
Loans and Leases Receivable, Gross | 0 | 0 |
Substandard [Member] | ||
Loans and Leases Receivable, Gross | 14,079 | 21,160 |
Substandard [Member] | Mortgage loans, Single-family | ||
Loans and Leases Receivable, Gross | 10,658 | 10,894 |
Substandard [Member] | Mortgage loans, Multi-family | ||
Loans and Leases Receivable, Gross | 2,404 | 7,514 |
Substandard [Member] | Commercial Real Estate [Member] | ||
Loans and Leases Receivable, Gross | 919 | 2,643 |
Substandard [Member] | Construction Loans [Member] | ||
Loans and Leases Receivable, Gross | 0 | 0 |
Substandard [Member] | Mortgage Loans, Other [Member] | ||
Loans and Leases Receivable, Gross | 0 | |
Substandard [Member] | Commercial Portfolio Segment [Member] | ||
Loans and Leases Receivable, Gross | 98 | 109 |
Substandard [Member] | Consumer Loans | ||
Loans and Leases Receivable, Gross | $ 0 | $ 0 |
Loans Held For Investment_ Sc39
Loans Held For Investment: Schedule of Allowance for Loan Losses (Details) - USD ($) $ in Thousands | Mar. 31, 2016 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Sep. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2011 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Loans receivable, collectively evaluated allowance | $ 8,180 | $ 8,626 | $ 8,692 | ||||
Loans receivable, individually evaluated allowance | 20 | 98 | 20 | ||||
Total loan loss allowance | 8,200 | $ 8,768 | 8,724 | 8,712 | $ 8,693 | $ 9,744 | $ 9,744 |
Mortgage loans, Single-family | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Loans receivable, collectively evaluated allowance | 5,507 | 5,202 | 4,780 | ||||
Loans receivable, individually evaluated allowance | 0 | 78 | 0 | ||||
Total loan loss allowance | 5,507 | 5,720 | 5,280 | 4,780 | 4,540 | 5,476 | |
Mortgage loans, Multi-family | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Loans receivable, collectively evaluated allowance | 1,898 | 2,616 | 3,089 | ||||
Loans receivable, individually evaluated allowance | 0 | 0 | |||||
Total loan loss allowance | 1,898 | 1,919 | 2,616 | 3,089 | 2,998 | 3,142 | |
Commercial Real Estate [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Loans receivable, collectively evaluated allowance | 741 | 734 | 764 | ||||
Loans receivable, individually evaluated allowance | 0 | 0 | |||||
Total loan loss allowance | 741 | 778 | 734 | 764 | 1,075 | 989 | |
Construction Loans [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Loans receivable, collectively evaluated allowance | 10 | 42 | 27 | ||||
Loans receivable, individually evaluated allowance | 0 | 0 | |||||
Total loan loss allowance | 10 | 304 | 42 | 27 | 17 | 35 | |
Mortgage Loans, Other [Member] | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Loans receivable, collectively evaluated allowance | 1 | 0 | |||||
Loans receivable, individually evaluated allowance | 0 | ||||||
Total loan loss allowance | 1 | 1 | 0 | ||||
Commercial Business Loans | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Loans receivable, collectively evaluated allowance | 15 | 23 | 23 | ||||
Loans receivable, individually evaluated allowance | 20 | 20 | 20 | ||||
Total loan loss allowance | 35 | 37 | 43 | 43 | 53 | 92 | |
Consumer Loans | |||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||
Loans receivable, collectively evaluated allowance | 8 | 9 | 9 | ||||
Loans receivable, individually evaluated allowance | 0 | 0 | |||||
Total loan loss allowance | $ 8 | $ 9 | $ 9 | $ 9 | $ 10 | $ 10 |
Loans Held For Investment_ Sc40
Loans Held For Investment: Schedule of Allowance for Loan Losses Additional Detail (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | Mar. 31, 2016 | Mar. 31, 2015 | |
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Allowance at beginning of period | $ 8,724 | $ 9,744 | ||
Recovery from the allowance for loan losses | $ (694) | $ (111) | (1,094) | (1,283) |
Recoveries | 183 | 291 | 825 | 729 |
Charge-offs | (57) | (161) | (255) | (478) |
Net charge-offs | 126 | 130 | 570 | 251 |
Balance at end of period | $ 8,200 | $ 8,712 | $ 8,200 | $ 8,712 |
Allowance for loan losses as a percentage of gross loans held for investment | 1.01% | 1.05% | 1.01% | 1.05% |
Net recoveries as a percentage of average loans receivable, net, during the period (annualized) | (0.05%) | (0.05%) | (0.08%) | (0.04%) |
Allowance for loan losses as a percentage of gross non-performing loans at the end of the period | 62.31% | 79.74% | 62.31% | 79.74% |
Mortgage loans, Single-family | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Recoveries | $ 129 | $ 226 | $ 356 | $ 499 |
Charge-offs | (57) | (88) | (253) | (405) |
Mortgage loans, Multi-family | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Recoveries | 53 | 65 | 167 | 229 |
Commercial Real Estate [Member] | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Recoveries | 0 | 0 | 216 | 0 |
Charge-offs | 0 | (73) | 0 | (73) |
Commercial Business Loans | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Recoveries | 0 | 0 | 85 | 0 |
Consumer Loans | ||||
Allowance for Loan and Lease Losses [Roll Forward] | ||||
Recoveries | 1 | 0 | 1 | 1 |
Charge-offs | $ 0 | $ 0 | $ (2) | $ 0 |
Loans Held For Investment Loa41
Loans Held For Investment Loans Held For Investment: Schedule of Past Due Status of Loans Held for Investment, Gross (Details) - USD ($) $ in Thousands | Mar. 31, 2016 | Jun. 30, 2015 | Mar. 31, 2015 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Loans Held For Investment, Gross, Current | $ 803,818 | $ 807,046 | |
Loans Held For Investment, Gross, 30-89 Days Past Due | 1,508 | 1,335 | |
Loans Held For Investment, Gross, Non-Accrual | 13,159 | 14,598 | |
Loans Held For Investment, Gross | 818,485 | 822,979 | $ 827,813 |
Mortgage loans, Single-family | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Loans Held For Investment, Gross, Current | 323,632 | 354,082 | |
Loans Held For Investment, Gross, 30-89 Days Past Due | 1,508 | 1,335 | |
Loans Held For Investment, Gross, Non-Accrual | 10,657 | 10,544 | |
Loans Held For Investment, Gross | 335,797 | 365,961 | 374,981 |
Mortgage loans, Multi-family | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Loans Held For Investment, Gross, Current | 376,467 | 344,774 | |
Loans Held For Investment, Gross, 30-89 Days Past Due | 0 | 0 | |
Loans Held For Investment, Gross, Non-Accrual | 2,404 | 2,246 | |
Loans Held For Investment, Gross | 378,871 | 347,020 | 344,277 |
Commercial Real Estate [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Loans Held For Investment, Gross, Current | 93,384 | 99,198 | |
Loans Held For Investment, Gross, 30-89 Days Past Due | 0 | 0 | |
Loans Held For Investment, Gross, Non-Accrual | 0 | 1,699 | |
Loans Held For Investment, Gross | 93,384 | 100,897 | 101,618 |
Construction Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Loans Held For Investment, Gross, Current | 9,679 | 8,191 | |
Loans Held For Investment, Gross, 30-89 Days Past Due | 0 | 0 | |
Loans Held For Investment, Gross, Non-Accrual | 0 | 0 | |
Loans Held For Investment, Gross | 9,679 | 8,191 | 6,039 |
Mortgage Loans, Other [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Loans Held For Investment, Gross, Current | 72 | ||
Loans Held For Investment, Gross, 30-89 Days Past Due | 0 | ||
Loans Held For Investment, Gross, Non-Accrual | 0 | ||
Loans Held For Investment, Gross | 72 | ||
Commercial Business Loans | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Loans Held For Investment, Gross, Current | 354 | 557 | |
Loans Held For Investment, Gross, 30-89 Days Past Due | 0 | 0 | |
Loans Held For Investment, Gross, Non-Accrual | 98 | 109 | |
Loans Held For Investment, Gross | 452 | 666 | 652 |
Consumer Loans | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Loans Held For Investment, Gross, Current | 230 | 244 | |
Loans Held For Investment, Gross, 30-89 Days Past Due | 0 | 0 | |
Loans Held For Investment, Gross, Non-Accrual | 0 | 0 | |
Loans Held For Investment, Gross | $ 230 | $ 244 | $ 246 |
Loans Held For Investment Loa42
Loans Held For Investment Loans Held For Investment: Schedule of Allowance For Loan Losses and Recorded Investment in Gross Loans, by Portfolio Type (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||
Mar. 31, 2016 | Mar. 31, 2015 | Mar. 31, 2016 | Mar. 31, 2015 | Jun. 30, 2015 | Jun. 30, 2014 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance at beginning of period | $ 8,724 | $ 9,744 | ||||
Provision for Loan and Lease Losses | $ (694) | $ (111) | (1,094) | (1,283) | ||
Recoveries | 183 | 291 | 825 | 729 | ||
Allowance for Loan and Lease Losses Write-offs, Net | (57) | (161) | (255) | (478) | ||
Balance at end of period | 8,200 | 8,712 | 8,200 | 8,712 | ||
Loans receivable, individually evaluated allowance | 20 | 20 | 20 | 20 | $ 98 | |
Loans receivable, collectively evaluated allowance | 8,180 | 8,692 | 8,180 | 8,692 | 8,626 | |
Financing Receivable, Individually Evaluated for Impairment | 9,669 | 9,211 | 9,669 | 9,211 | ||
Financing Receivable, Collectively Evaluated for Impairment | 808,816 | 818,602 | 808,816 | 818,602 | ||
Loans Held For Investment, Gross | $ 818,485 | $ 827,813 | $ 818,485 | $ 827,813 | 822,979 | |
Allowance for loan losses as a percentage of gross loans held for investment | 1.01% | 1.05% | 1.01% | 1.05% | ||
Mortgage loans, Single-family | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance at beginning of period | $ 5,280 | $ 5,476 | ||||
Provision for Loan and Lease Losses | $ (285) | $ 102 | 124 | (790) | ||
Recoveries | 129 | 226 | 356 | 499 | ||
Allowance for Loan and Lease Losses Write-offs, Net | (57) | (88) | (253) | (405) | ||
Balance at end of period | 5,507 | 4,780 | 5,507 | 4,780 | ||
Loans receivable, individually evaluated allowance | 0 | 0 | 0 | 0 | 78 | |
Loans receivable, collectively evaluated allowance | 5,507 | 4,780 | 5,507 | 4,780 | 5,202 | |
Financing Receivable, Individually Evaluated for Impairment | 7,638 | 5,651 | 7,638 | 5,651 | ||
Financing Receivable, Collectively Evaluated for Impairment | 328,159 | 369,330 | 328,159 | 369,330 | ||
Loans Held For Investment, Gross | $ 335,797 | $ 374,981 | $ 335,797 | $ 374,981 | 365,961 | |
Allowance for loan losses as a percentage of gross loans held for investment | 1.64% | 1.27% | 1.64% | 1.27% | ||
Mortgage loans, Multi-family | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance at beginning of period | $ 2,616 | $ 3,142 | ||||
Provision for Loan and Lease Losses | $ (74) | $ 26 | (885) | (282) | ||
Recoveries | 53 | 65 | 167 | 229 | ||
Allowance for Loan and Lease Losses Write-offs, Net | 0 | 0 | 0 | 0 | ||
Balance at end of period | 1,898 | 3,089 | 1,898 | 3,089 | ||
Loans receivable, individually evaluated allowance | 0 | 0 | 0 | 0 | ||
Loans receivable, collectively evaluated allowance | 1,898 | 3,089 | 1,898 | 3,089 | 2,616 | |
Financing Receivable, Individually Evaluated for Impairment | 1,933 | 1,982 | 1,933 | 1,982 | ||
Financing Receivable, Collectively Evaluated for Impairment | 376,938 | 342,295 | 376,938 | 342,295 | ||
Loans Held For Investment, Gross | $ 378,871 | $ 344,277 | $ 378,871 | $ 344,277 | 347,020 | |
Allowance for loan losses as a percentage of gross loans held for investment | 0.50% | 0.90% | 0.50% | 0.90% | ||
Commercial Real Estate [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance at beginning of period | $ 734 | $ 989 | ||||
Provision for Loan and Lease Losses | $ (37) | $ (238) | (209) | (152) | ||
Recoveries | 0 | 0 | 216 | 0 | ||
Allowance for Loan and Lease Losses Write-offs, Net | 0 | (73) | 0 | (73) | ||
Balance at end of period | 741 | 764 | 741 | 764 | ||
Loans receivable, individually evaluated allowance | 0 | 0 | 0 | 0 | ||
Loans receivable, collectively evaluated allowance | 741 | 764 | 741 | 764 | 734 | |
Financing Receivable, Individually Evaluated for Impairment | 0 | 1,468 | 0 | 1,468 | ||
Financing Receivable, Collectively Evaluated for Impairment | 93,384 | 100,150 | 93,384 | 100,150 | ||
Loans Held For Investment, Gross | $ 93,384 | $ 101,618 | $ 93,384 | $ 101,618 | 100,897 | |
Allowance for loan losses as a percentage of gross loans held for investment | 0.79% | 0.75% | 0.79% | 0.75% | ||
Construction Loans [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance at beginning of period | $ 42 | $ 35 | ||||
Provision for Loan and Lease Losses | $ (294) | $ 10 | (32) | (8) | ||
Recoveries | 0 | 0 | 0 | 0 | ||
Allowance for Loan and Lease Losses Write-offs, Net | 0 | 0 | 0 | 0 | ||
Balance at end of period | 10 | 27 | 10 | 27 | ||
Loans receivable, individually evaluated allowance | 0 | 0 | 0 | 0 | ||
Loans receivable, collectively evaluated allowance | 10 | 27 | 10 | 27 | 42 | |
Financing Receivable, Individually Evaluated for Impairment | 0 | 0 | 0 | 0 | ||
Financing Receivable, Collectively Evaluated for Impairment | 9,679 | 6,039 | 9,679 | 6,039 | ||
Loans Held For Investment, Gross | $ 9,679 | $ 6,039 | $ 9,679 | $ 6,039 | 8,191 | |
Allowance for loan losses as a percentage of gross loans held for investment | 0.10% | 0.45% | 0.10% | 0.45% | ||
Mortgage Loans, Other [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance at beginning of period | $ 0 | |||||
Provision for Loan and Lease Losses | $ 0 | (1) | ||||
Recoveries | 0 | 0 | ||||
Allowance for Loan and Lease Losses Write-offs, Net | 0 | 0 | ||||
Balance at end of period | 1 | 1 | ||||
Loans receivable, individually evaluated allowance | 0 | 0 | ||||
Loans receivable, collectively evaluated allowance | 1 | 1 | $ 0 | |||
Financing Receivable, Individually Evaluated for Impairment | 0 | 0 | ||||
Financing Receivable, Collectively Evaluated for Impairment | 72 | 72 | ||||
Loans Held For Investment, Gross | $ 72 | $ 72 | ||||
Allowance for loan losses as a percentage of gross loans held for investment | 1.39% | 1.39% | ||||
Commercial Business Loans | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance at beginning of period | $ 43 | $ 92 | ||||
Provision for Loan and Lease Losses | $ (2) | $ (10) | (93) | (49) | ||
Recoveries | 0 | 0 | 85 | 0 | ||
Allowance for Loan and Lease Losses Write-offs, Net | 0 | 0 | 0 | 0 | ||
Balance at end of period | 35 | 43 | 35 | 43 | ||
Loans receivable, individually evaluated allowance | 20 | 20 | 20 | 20 | 20 | |
Loans receivable, collectively evaluated allowance | 15 | 23 | 15 | 23 | 23 | |
Financing Receivable, Individually Evaluated for Impairment | 98 | 110 | 98 | 110 | ||
Financing Receivable, Collectively Evaluated for Impairment | 354 | 542 | 354 | 542 | ||
Loans Held For Investment, Gross | $ 452 | $ 652 | $ 452 | $ 652 | 666 | |
Allowance for loan losses as a percentage of gross loans held for investment | 7.74% | 6.60% | 7.74% | 6.60% | ||
Consumer Loans | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance at beginning of period | $ 9 | $ 10 | ||||
Provision for Loan and Lease Losses | $ (2) | $ (1) | 0 | (2) | ||
Recoveries | 1 | 0 | 1 | 1 | ||
Allowance for Loan and Lease Losses Write-offs, Net | 0 | 0 | (2) | 0 | ||
Balance at end of period | 8 | 9 | 8 | 9 | ||
Loans receivable, individually evaluated allowance | 0 | 0 | 0 | 0 | ||
Loans receivable, collectively evaluated allowance | 8 | 9 | 8 | 9 | 9 | |
Financing Receivable, Individually Evaluated for Impairment | 0 | 0 | 0 | 0 | ||
Financing Receivable, Collectively Evaluated for Impairment | 230 | 246 | 230 | 246 | ||
Loans Held For Investment, Gross | $ 230 | $ 246 | $ 230 | $ 246 | $ 244 | |
Allowance for loan losses as a percentage of gross loans held for investment | 3.48% | 3.66% | 3.48% | 3.66% |
Loans Held For Investment Loa43
Loans Held For Investment Loans Held For Investment: Schedule of Total Recorded Investment in Non-Performing Loans by Type (Details) - USD ($) $ in Thousands | Mar. 31, 2016 | Jun. 30, 2015 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Impaired Financing Receivable, Related Allowance | $ (937) | $ (650) |
Impaired Financing Receivable, Unpaid Principal Balance | 15,870 | 17,657 |
Impaired Financing Receivable, Related Charge-Offs | (2,672) | (3,061) |
Impaired Financing Receivable, Recorded Investment | 13,198 | 14,596 |
Impaired Financing Receivable, Recorded Investment, Net of Allowance | 12,261 | 13,946 |
Mortgage loans, Single-family | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 3,058 | 3,881 |
Impaired Financing Receivable, with Related Allowance, Related Charge-Offs | 0 | 0 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 3,058 | 3,881 |
Impaired Financing Receivable, Related Allowance | (776) | (630) |
Impaired Financing Receivable, Recorded Investment, with Related Allowance, Net | 2,282 | 3,251 |
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 9,218 | 8,462 |
Impaired Financing Receivable, with No Related Allowance, Related Charge-Offs | (1,580) | (1,801) |
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 7,638 | 6,661 |
Impaired Financing Receivable, Recorded Investment, with No Related Allowance, Net | 7,638 | 6,661 |
Impaired Financing Receivable, Unpaid Principal Balance | 12,276 | 12,343 |
Impaired Financing Receivable, Related Charge-Offs | (1,580) | (1,801) |
Impaired Financing Receivable, Recorded Investment | 10,696 | 10,542 |
Impaired Financing Receivable, Recorded Investment, Net of Allowance | 9,920 | 9,912 |
Mortgage loans, Multi-family | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 471 | |
Impaired Financing Receivable, with Related Allowance, Related Charge-Offs | 0 | |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 471 | |
Impaired Financing Receivable, Related Allowance | (141) | 0 |
Impaired Financing Receivable, Recorded Investment, with Related Allowance, Net | 330 | |
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 3,025 | 3,506 |
Impaired Financing Receivable, with No Related Allowance, Related Charge-Offs | (1,092) | (1,260) |
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 1,933 | 2,246 |
Impaired Financing Receivable, Recorded Investment, with No Related Allowance, Net | 1,933 | 2,246 |
Impaired Financing Receivable, Unpaid Principal Balance | 3,496 | 3,506 |
Impaired Financing Receivable, Related Charge-Offs | (1,092) | (1,260) |
Impaired Financing Receivable, Recorded Investment | 2,404 | 2,246 |
Impaired Financing Receivable, Recorded Investment, Net of Allowance | 2,263 | 2,246 |
Commercial Real Estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Impaired Financing Receivable, Related Allowance | 0 | |
Impaired Financing Receivable, with No Related Allowance, Unpaid Principal Balance | 1,699 | |
Impaired Financing Receivable, with No Related Allowance, Related Charge-Offs | 0 | |
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 1,699 | |
Impaired Financing Receivable, Recorded Investment, with No Related Allowance, Net | 1,699 | |
Impaired Financing Receivable, Unpaid Principal Balance | 1,699 | |
Impaired Financing Receivable, Related Charge-Offs | 0 | |
Impaired Financing Receivable, Recorded Investment | 1,699 | |
Impaired Financing Receivable, Recorded Investment, Net of Allowance | 1,699 | |
Commercial Business Loans | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Impaired Financing Receivable, with Related Allowance, Unpaid Principal Balance | 98 | 109 |
Impaired Financing Receivable, with Related Allowance, Related Charge-Offs | 0 | 0 |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 98 | 109 |
Impaired Financing Receivable, Related Allowance | (20) | (20) |
Impaired Financing Receivable, Recorded Investment, with Related Allowance, Net | 78 | 89 |
Impaired Financing Receivable, Unpaid Principal Balance | 98 | 109 |
Impaired Financing Receivable, Related Charge-Offs | 0 | 0 |
Impaired Financing Receivable, Recorded Investment | 98 | 109 |
Impaired Financing Receivable, Recorded Investment, Net of Allowance | $ 78 | $ 89 |
Loans Held For Investment_ Na44
Loans Held For Investment: Narrative 2 (Details) $ / shares in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Mar. 31, 2016USD ($)loanproperty$ / shares | Jun. 30, 2015USD ($)loan | Mar. 31, 2015USD ($)property$ / shares | Mar. 31, 2016USD ($)loanproperty | Mar. 31, 2015USD ($)property | Jun. 30, 2015USD ($)loan | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Number of Properties Acquired in Settlement of Loans | property | 2 | 1 | 8 | 8 | ||
Number of Previously Foreclosed Properties Sold | property | 3 | 2 | 6 | 6 | ||
Average investment in non-performing loans | $ 12,752,000 | $ 11,296,000 | $ 13,999,000 | $ 13,246,000 | ||
Interest income, non-performing loans, cash basis | 50,000 | 187,000 | 255,000 | |||
Interest lost on non-performing Loans | $ 19,000 | $ 87,000 | $ 123,000 | 292,000 | ||
Number of modified loans | loan | 14 | 18 | ||||
Number of loans modified, extended beyond initial maturity | loan | 0 | |||||
Loans and Leases Receivable, Impaired, Commitment to Lend | $ 0 | $ 0 | $ 0 | $ 0 | ||
Number of Loans Modified as Troubled Debt Restructurings in Default | $ / shares | $ 0 | $ 0 | ||||
Loans receivable, restructured loans, accrual status | $ 4,622,000 | 5,603,000 | 4,622,000 | 5,603,000 | ||
Loans receivable, restructured loans, nonaccrual status | 1,114,000 | 989,000 | 1,114,000 | 989,000 | ||
Restructured loans | $ 5,736,000 | $ 6,592,000 | $ 5,736,000 | $ 6,592,000 | ||
Percent of Total Restructured Loans on Current Status | 50.00% | 74.00% | 50.00% | 74.00% | ||
Substandard [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Number of modified loans | loan | 12 | 16 | ||||
Loans receivable, restructured loans, accrual status | $ 4,600,000 | $ 5,600,000 | $ 4,600,000 | $ 5,600,000 | ||
Current [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Restructured loans | $ 2,900,000 | $ 4,900,000 | 2,900,000 | 4,900,000 | ||
Restructured loans on accrual status | Special Mention [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Number of modified loans | loan | 2 | 2 | ||||
Loans receivable, restructured loans, nonaccrual status | $ 1,100,000 | $ 989,000 | 1,100,000 | $ 989,000 | ||
Collected and Applied to Principal Balance [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Interest lost on non-performing Loans | $ 125,000 | $ 314,000 | $ 361,000 | |||
In Default and Required and Additional Provision [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Number of Loans Modified as Troubled Debt Restructurings | loan | 0 |
Loans Held For Investment_ Sc45
Loans Held For Investment: Schedule of Average Recorded Investment in Non-Performing Loans and Related Interest Income (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | Mar. 31, 2016 | Mar. 31, 2015 | |
Non-performing Loans, with No Related Allowance, Average Recorded Investment | $ 9,811 | $ 9,302 | $ 11,198 | $ 10,833 |
Non-performing Loans, with No Related Allowance, Interest Income | 19 | 40 | 116 | 199 |
Non-performing Loans, with Related Allowance, Average Recorded Investment | 2,941 | 1,994 | 2,801 | 2,413 |
Non-performing Loans, with Related Allowance, Interest Income | 31 | 10 | 71 | 56 |
Average investment in non-performing loans | 12,752 | 11,296 | 13,999 | 13,246 |
Non-performing Loans, Interest Income | 50 | 50 | 187 | 255 |
Mortgage loans, Single-family | ||||
Non-performing Loans, with No Related Allowance, Average Recorded Investment | 7,870 | 5,827 | 8,544 | 6,813 |
Non-performing Loans, with No Related Allowance, Interest Income | 19 | 19 | 22 | 53 |
Non-performing Loans, with Related Allowance, Average Recorded Investment | 2,529 | 1,619 | 2,594 | 1,872 |
Non-performing Loans, with Related Allowance, Interest Income | 22 | 8 | 58 | 36 |
Mortgage loans, Multi-family | ||||
Non-performing Loans, with No Related Allowance, Average Recorded Investment | 1,941 | 1,988 | 1,988 | 2,094 |
Non-performing Loans, with No Related Allowance, Interest Income | 0 | 0 | 66 | 0 |
Non-performing Loans, with Related Allowance, Average Recorded Investment | 314 | 259 | 105 | 417 |
Non-performing Loans, with Related Allowance, Interest Income | 7 | 0 | 7 | 13 |
Commercial Real Estate [Member] | ||||
Non-performing Loans, with No Related Allowance, Average Recorded Investment | 0 | 1,487 | 666 | 1,926 |
Non-performing Loans, with No Related Allowance, Interest Income | 0 | 21 | 28 | 146 |
Commercial Business Loans | ||||
Non-performing Loans, with Related Allowance, Average Recorded Investment | 98 | 116 | 102 | 124 |
Non-performing Loans, with Related Allowance, Interest Income | $ 2 | $ 2 | $ 6 | $ 7 |
Loans Held For Investment_ Sc46
Loans Held For Investment: Schedule of Troubled Debt Restructurings by Nonaccrual Versus Accrual Status (Details) - USD ($) $ / shares in Thousands, $ in Thousands | 3 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | Jun. 30, 2015 | |
Financing Receivable, Modifications [Line Items] | |||
Number of Loans Modified as Troubled Debt Restructurings in Default | $ 0 | $ 0 | |
Restructured loans on non-accrual status | $ 4,622 | $ 5,603 | |
Restructured loans on accrual status | 1,114 | 989 | |
Restructured loans | 5,736 | 6,592 | |
Mortgage loans, Single-family | |||
Financing Receivable, Modifications [Line Items] | |||
Restructured loans on non-accrual status | 3,002 | 2,902 | |
Restructured loans on accrual status | 1,114 | 989 | |
Mortgage loans, Multi-family | |||
Financing Receivable, Modifications [Line Items] | |||
Restructured loans on non-accrual status | 1,542 | 1,593 | |
Commercial Real Estate [Member] | |||
Financing Receivable, Modifications [Line Items] | |||
Restructured loans on non-accrual status | 0 | 1,019 | |
Commercial Business Loans | |||
Financing Receivable, Modifications [Line Items] | |||
Restructured loans on non-accrual status | $ 78 | $ 89 |
Loans Held For Investment_ Sc47
Loans Held For Investment: Schedule of Restructured Loans by Type, Net of Individually Evaluated Allowances (Details) - USD ($) $ in Thousands | Mar. 31, 2016 | Jun. 30, 2015 |
Financing Receivable, Impaired [Line Items] | ||
Restructured Loans, Allowance for Loan Losses | $ (265) | $ (135) |
Restructured Loans, Unpaid Principal Balance | 7,851 | 8,896 |
Restructured Loans, Related Charge-offs | (1,850) | (2,169) |
Restructured Loans, Recorded Investment | 6,001 | 6,727 |
Restructured Loans, Recorded Investment, Net of Allowance | 5,736 | 6,592 |
Mortgage loans, Single-family | ||
Financing Receivable, Impaired [Line Items] | ||
Restructured Loans, With Related Allowance, Unpaid Principal Balance | 1,227 | 576 |
Restructured Loans, With Related Allowance, Related Charge-offs | 0 | 0 |
Restructured Loans, With a Related Allowance, Recorded Investment | 1,227 | 576 |
Restructured Loans, Allowance for Loan Losses | (245) | (115) |
Restructured Loans, Recorded Investment, With Related Allowance, Net | 982 | 461 |
Restructured Loans, Without a Related Allowance, Unpaid Principal Balance | 3,929 | 4,397 |
Restructured Loans, Without a Related Allowance, Related Charge-offs | (795) | (967) |
Restructured Loans, Without a Related Allowance, Recorded Investment | 3,134 | 3,430 |
Restructured Loans, Without a Related Allowance, Net Investment | 3,134 | 3,430 |
Restructured Loans, Unpaid Principal Balance | 5,156 | 4,973 |
Restructured Loans, Related Charge-offs | (795) | (967) |
Restructured Loans, Recorded Investment | 4,361 | 4,006 |
Restructured Loans, Recorded Investment, Net of Allowance | 4,116 | 3,891 |
Mortgage loans, Multi-family | ||
Financing Receivable, Impaired [Line Items] | ||
Restructured Loans, Allowance for Loan Losses | 0 | 0 |
Restructured Loans, Without a Related Allowance, Unpaid Principal Balance | 2,597 | 2,795 |
Restructured Loans, Without a Related Allowance, Related Charge-offs | (1,055) | (1,202) |
Restructured Loans, Without a Related Allowance, Recorded Investment | 1,542 | 1,593 |
Restructured Loans, Without a Related Allowance, Net Investment | 1,542 | 1,593 |
Restructured Loans, Unpaid Principal Balance | 2,597 | 2,795 |
Restructured Loans, Related Charge-offs | (1,055) | (1,202) |
Restructured Loans, Recorded Investment | 1,542 | 1,593 |
Restructured Loans, Recorded Investment, Net of Allowance | 1,542 | 1,593 |
Commercial Real Estate [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Restructured Loans, Allowance for Loan Losses | 0 | |
Restructured Loans, Without a Related Allowance, Unpaid Principal Balance | 1,019 | |
Restructured Loans, Without a Related Allowance, Related Charge-offs | 0 | |
Restructured Loans, Without a Related Allowance, Recorded Investment | 1,019 | |
Restructured Loans, Without a Related Allowance, Net Investment | 1,019 | |
Restructured Loans, Unpaid Principal Balance | 1,019 | |
Restructured Loans, Related Charge-offs | 0 | |
Restructured Loans, Recorded Investment | 1,019 | |
Restructured Loans, Recorded Investment, Net of Allowance | 1,019 | |
Commercial Business Loans | ||
Financing Receivable, Impaired [Line Items] | ||
Restructured Loans, With Related Allowance, Unpaid Principal Balance | 98 | 109 |
Restructured Loans, With Related Allowance, Related Charge-offs | 0 | 0 |
Restructured Loans, With a Related Allowance, Recorded Investment | 98 | 109 |
Restructured Loans, Allowance for Loan Losses | (20) | (20) |
Restructured Loans, Recorded Investment, With Related Allowance, Net | 78 | 89 |
Restructured Loans, Unpaid Principal Balance | 98 | 109 |
Restructured Loans, Related Charge-offs | 0 | 0 |
Restructured Loans, Recorded Investment | 98 | 109 |
Restructured Loans, Recorded Investment, Net of Allowance | $ 78 | $ 89 |
Loans Held For Investment_ Na48
Loans Held For Investment: Narrative 3 (Details) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Mar. 31, 2016USD ($)property | Mar. 31, 2015property | Mar. 31, 2016USD ($)property | Mar. 31, 2015property | Jun. 30, 2015USD ($)property | |
Number of Properties Acquired in Settlement of Loans | 2 | 1 | 8 | 8 | |
Number of Previously Foreclosed Properties Sold | 3 | 2 | 6 | 6 | |
Real estate owned fair value | $ | $ 3,200 | $ 3,200 | $ 2,400 | ||
Southern California [Member] | |||||
Number of real estate owned properties | 4 | 4 | 2 | ||
Arizona [Member] | |||||
Number of real estate owned properties | 1 | 1 | |||
Nevada [Member] | |||||
Number of real estate owned properties | 1 |
Derivative and Other Financia49
Derivative and Other Financial Instruments with Off-Balance Sheet Risks: Off-Balance-Sheet Credit Exposure, Policy (Details) - USD ($) $ in Thousands | Mar. 31, 2016 | Jun. 30, 2015 | Jun. 30, 2014 |
Derivative [Line Items] | |||
Commitments to Extend Credit | $ 8,648 | $ 3,360 | |
Loans Held for Investment and Loans Held for Sale [Member] | |||
Derivative [Line Items] | |||
Commitments to Extend Credit | $ 161,300 | $ 144,300 |
Derivative and Other Financia50
Derivative and Other Financial Instruments with Off-Balance Sheet Risks: Schedule of Undisbursed Funds Commitments (Details) - USD ($) $ in Thousands | Mar. 31, 2016 | Jun. 30, 2015 |
Derivative [Line Items] | ||
Loans and Leases Receivable, Loans in Process | $ 8,648 | $ 3,360 |
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Liability | 15,887 | 10,048 |
Undisbursed Lines of Credit - Mortgage Loans | ||
Derivative [Line Items] | ||
Loans and Leases Receivable, Loans in Process | 8,648 | 3,359 |
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Liability | 20 | 414 |
Undisbursed Lines of Credit - Commercial Business Loans | ||
Derivative [Line Items] | ||
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Liability | 857 | 822 |
Undisbursed Lines of Credit - Consumer Loans | ||
Derivative [Line Items] | ||
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Liability | 678 | 708 |
Commitments to Extend Credit, Loans to be Held for Investment | ||
Derivative [Line Items] | ||
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Liability | $ 5,684 | $ 4,745 |
Derivative and Other Financia51
Derivative and Other Financial Instruments with Off-Balance Sheet Risks: Commitments on Undisbursed Funds Held for Investment Policy (Details) - USD ($) $ in Thousands | Mar. 31, 2016 | Jun. 30, 2014 |
Other Assets | ||
Derivative [Line Items] | ||
Undisbursed commitments to extend credit, Assets | $ 3,000 | $ 2,600 |
Other Liabilities [Member] | ||
Derivative [Line Items] | ||
Derivative Liability | $ 1,700 | $ 208 |
Derivative and Other Financia52
Derivative and Other Financial Instruments with Off-Balance Sheet Risks: Schedule of Allowance for Loan Losses of Undisbursed Funds and Commitments on Loans Held for Investment (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Mar. 31, 2016 | Mar. 31, 2015 | Mar. 31, 2016 | Mar. 31, 2015 | Jun. 30, 2014 | |
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Allowance at beginning of period | $ 8,724 | $ 9,744 | |||
Recovery from the allowance for loan losses | $ (694) | $ (111) | (1,094) | (1,283) | |
Balance at end of period | 8,200 | 8,712 | 8,200 | 8,712 | |
Commitments to Extend Credit and Undisbursed Funds | |||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||
Allowance at beginning of period | 149 | 81 | 76 | 61 | |
Recovery from the allowance for loan losses | 4 | (2) | 77 | 18 | |
Balance at end of period | 153 | $ 79 | 153 | $ 79 | |
Other Liabilities [Member] | |||||
Derivative [Line Items] | |||||
Derivative Liability | $ 1,700 | $ 1,700 | $ 208 |
Derivative and Other Financia53
Derivative and Other Financial Instruments with Off-Balance Sheet Risks: Schedule of Impact of Derivative Financial Instruments on Gain on Sale of Loans (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Mar. 31, 2016 | Mar. 31, 2015 | Mar. 31, 2016 | Mar. 31, 2015 | Jun. 30, 2014 | |
Derivative [Line Items] | |||||
Total derivative financial instruments | $ 516 | $ 1,031 | $ (1,081) | $ (245) | |
Commitments to extend credit on loans to be held for sale | |||||
Derivative [Line Items] | |||||
Total derivative financial instruments | 1,866 | 2,174 | 1,537 | 1,737 | |
Mandatory loan sale commitments and TBA MBS trades | |||||
Derivative [Line Items] | |||||
Total derivative financial instruments | (1,435) | (1,112) | (2,531) | (1,789) | |
Option contracts | |||||
Derivative [Line Items] | |||||
Total derivative financial instruments | 85 | $ (31) | (87) | $ (193) | |
Other Liabilities [Member] | |||||
Derivative [Line Items] | |||||
Derivative liabilities | $ 1,700 | $ 1,700 | $ 208 |
Derivative and Other Financia54
Derivative and Other Financial Instruments with Off-Balance Sheet Risks: Schedule of Outstanding Derivative Instruments (Details) - USD ($) $ in Thousands | Mar. 31, 2016 | Jun. 30, 2015 | Jun. 30, 2014 |
Amount | |||
Derivative [Line Items] | |||
Derivative financial instruments | $ (156,386) | $ (213,540) | |
Fair Value | |||
Derivative [Line Items] | |||
Derivative financial instruments | $ 1,270 | 2,432 | |
Commitments to extend credit on loans to be held for sale | |||
Derivative [Line Items] | |||
Commitments estimated may not fund (percent) | 31.30% | 26.90% | |
Commitments to extend credit on loans to be held for sale | Amount | |||
Derivative [Line Items] | |||
Derivative financial instruments | $ 155,615 | 139,565 | |
Commitments to extend credit on loans to be held for sale | Fair Value | |||
Derivative [Line Items] | |||
Derivative financial instruments | 3,036 | 1,499 | |
Best efforts loan sale commitments | Amount | |||
Derivative [Line Items] | |||
Derivative financial instruments | (37,994) | (36,908) | |
Best efforts loan sale commitments | Fair Value | |||
Derivative [Line Items] | |||
Derivative financial instruments | 0 | 0 | |
Mandatory loan sale commitments and TBA MBS trades | Amount | |||
Derivative [Line Items] | |||
Derivative financial instruments | (270,007) | (320,197) | |
Mandatory loan sale commitments and TBA MBS trades | Fair Value | |||
Derivative [Line Items] | |||
Derivative financial instruments | (1,790) | 741 | |
Call Option [Member] | Amount | |||
Derivative [Line Items] | |||
Derivative financial instruments | (4,000) | 4,000 | |
Call Option [Member] | Fair Value | |||
Derivative [Line Items] | |||
Derivative financial instruments | $ 24 | $ 192 |
Income Taxes (Details)
Income Taxes (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | Mar. 31, 2016 | Mar. 31, 2015 | |
Income Tax Examination [Line Items] | ||||
Provision for income taxes | $ 1,051 | $ 1,990 | $ 3,509 | $ 5,447 |
Fair Value of Financial Instr56
Fair Value of Financial Instruments: Schedule of Aggregate Fair Value and Aggregate Unpaid Principal Balance of Loans Held for Sale (Details) - USD ($) $ in Thousands | Mar. 31, 2016 | Jun. 30, 2015 |
Fair Value Disclosures [Abstract] | ||
Loans Held for Investment, at Fair Value | $ 4,583 | $ 4,518 |
Loans held for investment, Aggregate Unpaid Principal Balance | 4,708 | 4,495 |
Loans held for investment, Net Unrealized Gain | (125) | 23 |
Loans held for sale, Aggregate Fair Value | 184,025 | 224,715 |
Loans held for sale, Aggregate Unpaid Principal Balance | 177,088 | 219,143 |
Loans held for sale, Net Unrealized Gain | $ 6,937 | $ 5,572 |
Fair Value of Financial Instr57
Fair Value of Financial Instruments: Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis (Details) - USD ($) $ in Thousands | Mar. 31, 2016 | Jun. 30, 2015 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Loans Held for Investment, at Fair Value | $ 4,583 | $ 4,518 |
Loans held for sale, at fair value | 184,025 | 224,715 |
Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities | 12,161 | 14,161 |
Loans Held for Investment, at Fair Value | 4,583 | 4,518 |
Loans held for sale, at fair value | 184,025 | 224,715 |
Interest-only strips | 50 | 63 |
Derivative assets | 3,061 | 2,640 |
Total assets | 203,880 | 246,097 |
Derivative liabilities | 1,791 | 208 |
Total liabilities | 1,791 | 208 |
Recurring | Commitments to extend credit on loans to be held for sale | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative assets | 3,037 | 1,636 |
Derivative liabilities | 1 | 137 |
Recurring | Mandatory loan sale commitments | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative liabilities | 125 | 71 |
Recurring | TBA MBS trades | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative assets | 812 | |
Derivative liabilities | 1,665 | |
Recurring | Option contracts | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative assets | 24 | 192 |
Recurring | U.S. government agency MBS | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities | 6,947 | 7,906 |
Recurring | U.S. government sponsored enterprise MBS | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities | 4,450 | 5,387 |
Recurring | Private issue CMO | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities | 617 | 717 |
Recurring | Common Stock, community development financial institution [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities | 147 | 151 |
Recurring | Fair Value, Inputs, Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities | 0 | 0 |
Loans Held for Investment, at Fair Value | 0 | 0 |
Loans held for sale, at fair value | 0 | 0 |
Interest-only strips | 0 | 0 |
Derivative assets | 0 | 0 |
Total assets | 0 | 0 |
Derivative liabilities | 0 | 0 |
Total liabilities | 0 | 0 |
Recurring | Fair Value, Inputs, Level 1 | Commitments to extend credit on loans to be held for sale | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative assets | 0 | 0 |
Derivative liabilities | 0 | 0 |
Recurring | Fair Value, Inputs, Level 1 | Mandatory loan sale commitments | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative liabilities | 0 | 0 |
Recurring | Fair Value, Inputs, Level 1 | TBA MBS trades | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative assets | 0 | |
Derivative liabilities | 0 | |
Recurring | Fair Value, Inputs, Level 1 | Option contracts | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative assets | 0 | 0 |
Recurring | Fair Value, Inputs, Level 1 | U.S. government agency MBS | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities | 0 | 0 |
Recurring | Fair Value, Inputs, Level 1 | U.S. government sponsored enterprise MBS | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities | 0 | 0 |
Recurring | Fair Value, Inputs, Level 1 | Private issue CMO | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities | 0 | 0 |
Recurring | Fair Value, Inputs, Level 1 | Common Stock, community development financial institution [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities | 0 | 0 |
Recurring | Fair Value, Inputs, Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities | 11,544 | 13,293 |
Loans Held for Investment, at Fair Value | 0 | 4,518 |
Loans held for sale, at fair value | 184,025 | 224,715 |
Interest-only strips | 0 | 0 |
Derivative assets | 0 | 812 |
Total assets | 195,569 | 243,338 |
Derivative liabilities | 1,665 | 0 |
Total liabilities | 1,665 | 0 |
Recurring | Fair Value, Inputs, Level 2 | Commitments to extend credit on loans to be held for sale | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative assets | 0 | 0 |
Derivative liabilities | 0 | 0 |
Recurring | Fair Value, Inputs, Level 2 | Mandatory loan sale commitments | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative liabilities | 0 | 0 |
Recurring | Fair Value, Inputs, Level 2 | TBA MBS trades | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative assets | 812 | |
Derivative liabilities | 1,665 | |
Recurring | Fair Value, Inputs, Level 2 | Option contracts | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative assets | 0 | 0 |
Recurring | Fair Value, Inputs, Level 2 | U.S. government agency MBS | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities | 6,947 | 7,906 |
Recurring | Fair Value, Inputs, Level 2 | U.S. government sponsored enterprise MBS | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities | 4,450 | 5,387 |
Recurring | Fair Value, Inputs, Level 2 | Private issue CMO | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities | 0 | 0 |
Recurring | Fair Value, Inputs, Level 2 | Common Stock, community development financial institution [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities | 147 | 0 |
Recurring | Fair Value, Inputs, Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities | 617 | 868 |
Loans Held for Investment, at Fair Value | 4,583 | 0 |
Loans held for sale, at fair value | 0 | 0 |
Interest-only strips | 50 | 63 |
Derivative assets | 3,061 | 1,828 |
Total assets | 8,311 | 2,759 |
Derivative liabilities | 126 | 208 |
Total liabilities | 126 | 208 |
Recurring | Fair Value, Inputs, Level 3 | Commitments to extend credit on loans to be held for sale | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative assets | 3,037 | 1,636 |
Derivative liabilities | 1 | 137 |
Recurring | Fair Value, Inputs, Level 3 | Mandatory loan sale commitments | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative liabilities | 125 | 71 |
Recurring | Fair Value, Inputs, Level 3 | TBA MBS trades | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative assets | 0 | |
Derivative liabilities | 0 | |
Recurring | Fair Value, Inputs, Level 3 | Option contracts | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivative assets | 24 | 192 |
Recurring | Fair Value, Inputs, Level 3 | U.S. government agency MBS | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities | 0 | 0 |
Recurring | Fair Value, Inputs, Level 3 | U.S. government sponsored enterprise MBS | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities | 0 | 0 |
Recurring | Fair Value, Inputs, Level 3 | Private issue CMO | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities | 617 | 717 |
Recurring | Fair Value, Inputs, Level 3 | Common Stock, community development financial institution [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investment securities | $ 0 | $ 151 |
Fair Value of Financial Instr58
Fair Value of Financial Instruments: Schedule of Reconciliation of Beginning and Ending Balances of Recurring Fair Value Measurements Using Level 3 Inputs (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||
Mar. 31, 2016 | Mar. 31, 2015 | Mar. 31, 2016 | Mar. 31, 2015 | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||||
Beginning balance | $ 6,204 | $ 3,266 | $ 2,551 | $ 3,388 | ||
Total gains or losses included in earnings | 1,905 | 1,847 | 1,200 | 1,241 | ||
Total gains or losses included in other comprehensive loss | (5) | (3) | (24) | (6) | ||
Purchases | 82 | 368 | 222 | 939 | ||
Issuances | 0 | 0 | 0 | 0 | ||
Settlements | (1,333) | (211) | (2,165) | (295) | ||
Transfers in and/or out of Level 3 | 1,332 | 0 | 6,401 | 0 | ||
Ending balance | 8,185 | 5,267 | 8,185 | 5,267 | ||
Private issue CMO | ||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||||
Beginning balance | 654 | 799 | 717 | 853 | ||
Total gains or losses included in earnings | 0 | 0 | 0 | 0 | ||
Total gains or losses included in other comprehensive loss | (5) | (2) | (7) | (7) | ||
Purchases | 0 | 0 | 0 | 0 | ||
Issuances | 0 | 0 | 0 | 0 | ||
Settlements | (32) | (21) | (93) | (70) | ||
Transfers in and/or out of Level 3 | 0 | 0 | 0 | 0 | ||
Ending balance | 617 | 776 | 617 | 776 | ||
Common Stock, community development financial institution [Member] | ||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||||
Beginning balance | 143 | 250 | 151 | 0 | ||
Total gains or losses included in earnings | 0 | 0 | 0 | 0 | ||
Total gains or losses included in other comprehensive loss | 4 | 0 | (4) | 0 | ||
Purchases | 0 | 0 | 0 | 250 | ||
Issuances | 0 | 0 | 0 | 0 | ||
Settlements | 0 | 0 | 0 | 0 | ||
Transfers in and/or out of Level 3 | (147) | 0 | (147) | 0 | ||
Ending balance | 0 | 250 | 0 | 250 | ||
Loans Held For Investment, at Fair Value [Member] | ||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||||
Beginning balance | 4,210 | 0 | ||||
Total gains or losses included in earnings | 59 | (149) | ||||
Total gains or losses included in other comprehensive loss | 0 | 0 | ||||
Purchases | 0 | 0 | ||||
Issuances | 0 | 0 | ||||
Settlements | (1,165) | (1,816) | ||||
Transfers in and/or out of Level 3 | 1,479 | 6,548 | ||||
Ending balance | 4,583 | 4,583 | ||||
Interest-Only Strips | ||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||||
Beginning balance | 54 | 64 | 63 | 62 | ||
Total gains or losses included in earnings | 0 | 0 | 0 | 0 | ||
Total gains or losses included in other comprehensive loss | (4) | (1) | (13) | 1 | ||
Purchases | 0 | 0 | 0 | 0 | ||
Issuances | 0 | 0 | 0 | 0 | ||
Settlements | 0 | 0 | 0 | 0 | ||
Transfers in and/or out of Level 3 | 0 | 0 | 0 | 0 | ||
Ending balance | 50 | 63 | 50 | 63 | ||
Loan Commitments to Originate | ||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||||
Beginning balance | 1,170 | [1] | 2,129 | [2] | 1,499 | 2,566 |
Total gains or losses included in earnings | 1,866 | [1] | 2,174 | [2] | 1,537 | 1,737 |
Total gains or losses included in other comprehensive loss | 0 | [1] | 0 | [2] | 0 | 0 |
Purchases | 0 | [1] | 0 | [2] | 0 | 0 |
Issuances | 0 | [1] | 0 | [2] | 0 | 0 |
Settlements | 0 | [1] | 0 | [2] | 0 | 0 |
Transfers in and/or out of Level 3 | 0 | [1] | 0 | [2] | 0 | 0 |
Ending balance | 3,036 | 4,303 | 3,036 | 4,303 | ||
Mandatory Commitments | ||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||||
Beginning balance | (51) | [3] | (86) | [4] | (71) | (93) |
Total gains or losses included in earnings | (105) | [3] | (296) | [4] | (101) | (303) |
Total gains or losses included in other comprehensive loss | 0 | [3] | 0 | [4] | 0 | 0 |
Purchases | 0 | [3] | 0 | [4] | 0 | 0 |
Issuances | 0 | [3] | 0 | [4] | 0 | 0 |
Settlements | 31 | [3] | 20 | [4] | 47 | 34 |
Transfers in and/or out of Level 3 | 0 | [3] | 0 | [4] | 0 | 0 |
Ending balance | (125) | (362) | (125) | (362) | ||
Option Contracts | ||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||||
Beginning balance | 24 | 110 | 192 | 0 | ||
Total gains or losses included in earnings | 85 | (31) | (87) | (193) | ||
Total gains or losses included in other comprehensive loss | 0 | 0 | 0 | 0 | ||
Purchases | 82 | 368 | 222 | 689 | ||
Issuances | 0 | 0 | 0 | 0 | ||
Settlements | (167) | (210) | (303) | (259) | ||
Transfers in and/or out of Level 3 | 0 | 0 | 0 | 0 | ||
Ending balance | $ 24 | $ 237 | $ 24 | $ 237 | ||
[1] | Consists of commitments to extend credit on loans to be held for sale. | |||||
[2] | Consists of commitments to extend credit on loans to be held for sale. | |||||
[3] | Consists of mandatory loan sale commitments. | |||||
[4] | Consists of mandatory loan sale commitments. |
Fair Value of Financial Instr59
Fair Value of Financial Instruments: Schedule of Fair Value Assets Measured on Nonrecurring Basis (Details) - Nonrecurring - USD ($) $ in Thousands | Mar. 31, 2016 | Jun. 30, 2015 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired Loans, Fair value Disclosure | $ 12,261 | $ 13,946 |
Servicing Asset at Fair Value, Amount | 444 | 269 |
Real Estate Owned, Fair Value Disclosure | 3,165 | 2,398 |
Assets measured at fair value, nonrecurring | 15,870 | 16,613 |
Fair Value, Inputs, Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired Loans, Fair value Disclosure | 0 | 0 |
Servicing Asset at Fair Value, Amount | 0 | 0 |
Real Estate Owned, Fair Value Disclosure | 0 | 0 |
Assets measured at fair value, nonrecurring | 0 | 0 |
Fair Value, Inputs, Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired Loans, Fair value Disclosure | 9,571 | 11,816 |
Servicing Asset at Fair Value, Amount | 0 | 0 |
Real Estate Owned, Fair Value Disclosure | 3,165 | 2,398 |
Assets measured at fair value, nonrecurring | 12,736 | 14,214 |
Fair Value, Inputs, Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired Loans, Fair value Disclosure | 2,690 | 2,130 |
Servicing Asset at Fair Value, Amount | 444 | 269 |
Real Estate Owned, Fair Value Disclosure | 0 | 0 |
Assets measured at fair value, nonrecurring | $ 3,134 | $ 2,399 |
Fair Value of Financial Instr60
Fair Value of Financial Instruments: Schedule of Additional Information About Valuation Techniques and Inputs Used for Assets and Liabilities (Details) - Fair Value, Inputs, Level 3 $ in Thousands | 9 Months Ended | |
Mar. 31, 2016USD ($) | ||
Commitments to extend credit on loans to be held for sale | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Liabilities, fair value | $ 1 | |
Valuation Techniques | Relative value analysis | |
Commitments to extend credit on loans to be held for sale | Minimum | Liability | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Broker quotes (percent) | 104.00% | [1] |
Fall-out ratio (percent) | 18.40% | [1],[2] |
Commitments to extend credit on loans to be held for sale | Maximum | Liability | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Broker quotes (percent) | 104.60% | [1] |
Fall-out ratio (percent) | 32.20% | [1],[2] |
Commitments to extend credit on loans to be held for sale | Weighted Average | Liability | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Broker quotes (percent) | 104.30% | [1] |
Fall-out ratio (percent) | 31.30% | [1],[2] |
Mandatory loan sale commitments | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Liabilities, fair value | $ 125 | |
Valuation Techniques | Relative value analysis | |
Mandatory loan sale commitments | Minimum | Liability | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investor quotes (percent) | [1] | |
Roll-forward costs (percent) | 0.00% | [1],[3] |
Mandatory loan sale commitments | Maximum | Liability | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investor quotes (percent) | [1] | |
Roll-forward costs (percent) | 0.00% | [1],[3] |
Mandatory loan sale commitments | Weighted Average | Liability | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investor quotes (percent) | [1] | |
Roll-forward costs (percent) | 0.00% | [1],[3] |
Private issue CMO | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | $ 617 | |
Valuation Techniques | Market comparable pricing | |
Private issue CMO | Minimum | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value Inputs, Comparability Adjustments | (0.90%) | [1] |
Private issue CMO | Maximum | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value Inputs, Comparability Adjustments | 0.60% | [1] |
Private issue CMO | Weighted Average | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value Inputs, Comparability Adjustments | 0.30% | [1] |
Loans Held For Investment, at Fair Value [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | $ 4,583 | |
Valuation Techniques | Relative value analysis | |
Loans Held For Investment, at Fair Value [Member] | Minimum | Assets | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Broker quotes (percent) | 100.00% | [1] |
Fair Value Inputs, Entity Credit Risk | 1.20% | [1] |
Loans Held For Investment, at Fair Value [Member] | Maximum | Assets | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Broker quotes (percent) | 106.70% | [1] |
Fair Value Inputs, Entity Credit Risk | 100.00% | [1] |
Loans Held For Investment, at Fair Value [Member] | Weighted Average | Assets | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Broker quotes (percent) | 104.00% | [1] |
Fair Value Inputs, Entity Credit Risk | 6.50% | [1] |
Non-performing loans | Discounted Cash Flow | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | $ 78 | |
Valuation Techniques | Discounted cash flow | |
Non-performing loans | Relative Value Analysis | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | $ 2,612 | |
Valuation Techniques | Relative value analysis | |
Non-performing loans | Minimum | Discounted Cash Flow | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Probability of default (percent) | 5.00% | [1] |
Non-performing loans | Minimum | Relative Value Analysis | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Probability of default (percent) | 20.00% | [1] |
Non-performing loans | Maximum | Discounted Cash Flow | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Probability of default (percent) | 5.00% | [1] |
Non-performing loans | Maximum | Relative Value Analysis | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Probability of default (percent) | 45.00% | [1] |
Non-performing loans | Weighted Average | Discounted Cash Flow | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Probability of default (percent) | 5.00% | [1] |
Non-performing loans | Weighted Average | Relative Value Analysis | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Probability of default (percent) | 24.90% | [1] |
MSA | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | $ 444 | |
Valuation Techniques | Discounted cash flow | |
MSA | Minimum | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Prepayment speed (percent) | 14.10% | [1] |
Discount rate (percent) | 9.00% | [1] |
MSA | Maximum | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Prepayment speed (percent) | 60.00% | [1] |
Discount rate (percent) | 10.50% | [1] |
MSA | Weighted Average | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Prepayment speed (percent) | 19.40% | [1] |
Discount rate (percent) | 9.10% | [1] |
Interest-Only Strips | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | $ 50 | |
Valuation Techniques | Discounted cash flow | |
Interest-Only Strips | Minimum | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Prepayment speed (percent) | 17.60% | [1] |
Discount rate (percent) | 9.00% | [1] |
Interest-Only Strips | Maximum | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Prepayment speed (percent) | 23.70% | [1] |
Discount rate (percent) | 9.00% | [1] |
Interest-Only Strips | Weighted Average | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Prepayment speed (percent) | 18.20% | [1] |
Discount rate (percent) | 9.00% | [1] |
Commitments to extend credit on loans to be held for sale | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | $ 3,037 | |
Valuation Techniques | Relative value analysis | |
Commitments to extend credit on loans to be held for sale | Minimum | Assets | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Broker quotes (percent) | 98.60% | [1] |
Fall-out ratio (percent) | 18.40% | [1],[2] |
Commitments to extend credit on loans to be held for sale | Maximum | Assets | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Broker quotes (percent) | 105.40% | [1] |
Fall-out ratio (percent) | 32.20% | [1],[2] |
Commitments to extend credit on loans to be held for sale | Weighted Average | Assets | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Broker quotes (percent) | 102.30% | [1] |
Fall-out ratio (percent) | 31.30% | [1],[2] |
Mandatory loan sale commitments | Minimum | Liability | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Broker quotes (percent) | 102.30% | [1] |
Mandatory loan sale commitments | Maximum | Liability | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Broker quotes (percent) | 106.80% | [1] |
Mandatory loan sale commitments | Weighted Average | Liability | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Broker quotes (percent) | 104.50% | [1] |
Put options | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | $ 24 | |
Valuation Techniques | Relative value analysis | |
Put options | Minimum | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Broker quotes (percent) | 130.40% | [1] |
Put options | Maximum | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Broker quotes (percent) | 130.40% | [1] |
Put options | Weighted Average | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Broker quotes (percent) | 130.40% | [1] |
[1] | The range is based on the estimated fair values and management estimates. | |
[2] | The percentage of commitments to extend credit on loans to be held for sale which management has estimated may not fund. | |
[3] | An estimated cost to roll forward the mandatory loan sale commitments which management has estimated may not be delivered to the corresponding investors in a timely manner. |
Fair Value of Financial Instr61
Fair Value of Financial Instruments: Schedule of Carrying Amount and Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands | Mar. 31, 2016 | Jun. 30, 2015 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Held-to-maturity Securities, Fair Value | $ 21,163 | $ 800 |
Carrying Amount | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Held-to-maturity Securities, Fair Value | 21,014 | |
Loans held for investment, not recorded at fair value | 800,984 | 809,716 |
FHLB – San Francisco stock | 8,094 | 8,094 |
Deposits | 927,065 | 924,086 |
Borrowings | 91,317 | 91,367 |
Fair Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Held-to-maturity Securities, Fair Value | 21,163 | |
Loans held for investment, not recorded at fair value | 807,288 | 815,385 |
FHLB – San Francisco stock | 8,094 | 8,094 |
Deposits | 895,760 | 895,664 |
Borrowings | 94,671 | 93,219 |
Fair Value | Fair Value, Inputs, Level 1 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Held-to-maturity Securities, Fair Value | 0 | |
Loans held for investment, not recorded at fair value | 0 | 0 |
FHLB – San Francisco stock | 0 | 0 |
Deposits | 0 | 0 |
Borrowings | 0 | 0 |
Fair Value | Fair Value, Inputs, Level 2 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Held-to-maturity Securities, Fair Value | 21,163 | |
Loans held for investment, not recorded at fair value | 0 | 0 |
FHLB – San Francisco stock | 8,094 | 8,094 |
Deposits | 0 | 0 |
Borrowings | 0 | 0 |
Fair Value | Fair Value, Inputs, Level 3 | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Held-to-maturity Securities, Fair Value | 0 | |
Loans held for investment, not recorded at fair value | 807,288 | 815,385 |
FHLB – San Francisco stock | 0 | 0 |
Deposits | 895,760 | 895,664 |
Borrowings | $ 94,671 | $ 93,219 |
Incentive Plans_ Equity Incenti
Incentive Plans: Equity Incentive Plan Policy: Schedule of Incentive Plan Stock Option Activity (Details) - shares | 3 Months Ended | 9 Months Ended |
Mar. 31, 2016 | Mar. 31, 2015 | |
Shares: | ||
Oustanding, End of Period | 943,500 | 1,100,000 |
Incentive Plans_ Stock Option P
Incentive Plans: Stock Option Plan Policy: Schedule of Stock Option Plan Stock Option Activity (Details) - shares | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Shares: | ||
Oustanding, End of Period | 943,500 | 1,100,000 |
Incentive Plans Incentive Plans
Incentive Plans Incentive Plans: Narrative (Details) - shares | 3 Months Ended | 9 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2016 | Jun. 30, 2015 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Treasury stock, Shares used to fund Equity Incentive Plans for restricted stock | 9,642,482 | 9,642,482 | 9,132,258 |
Stock Issued During Period, Shares, Restricted Stock Award, Gross | 7,500 | 10,000 |
Reclassification Adjustment o65
Reclassification Adjustment of Accumulated Other Comprehensive Income ("AOCI") (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | Mar. 31, 2016 | Mar. 31, 2015 | |
Accumulated Other Comprehensive Income [Roll Forward] | ||||
Beginning balance | $ 246 | $ 432 | $ 331 | $ 386 |
Other Comprehensive (loss) income before reclassifications | 16 | (35) | (69) | 11 |
Amount reclassified from accumulated other comprehensive income | 0 | 0 | 0 | 0 |
Other comprehensive income (loss) | 16 | (35) | (69) | 11 |
Ending balance | 262 | 397 | 262 | 397 |
Unrealized Gain and Losses on Investment Securities Available For Sale [Member] | ||||
Accumulated Other Comprehensive Income [Roll Forward] | ||||
Beginning balance | 215 | 395 | 294 | 351 |
Other Comprehensive (loss) income before reclassifications | 76 | (34) | (3) | 10 |
Amount reclassified from accumulated other comprehensive income | 0 | 0 | 0 | 0 |
Other comprehensive income (loss) | 76 | (34) | (3) | 10 |
Ending balance | 291 | 361 | 291 | 361 |
Unrealized Gain and Losses on Interest-only strips [Member] | ||||
Accumulated Other Comprehensive Income [Roll Forward] | ||||
Beginning balance | 31 | 37 | 37 | 35 |
Other Comprehensive (loss) income before reclassifications | (60) | (1) | (66) | 1 |
Amount reclassified from accumulated other comprehensive income | 0 | 0 | 0 | 0 |
Other comprehensive income (loss) | (60) | (1) | (66) | 1 |
Ending balance | $ (29) | $ 36 | $ (29) | $ 36 |
Offsetting Derivative and Oth66
Offsetting Derivative and Other Financial Instruments (Details) - USD ($) $ in Thousands | Mar. 31, 2016 | Jun. 30, 2015 |
Gross Amount of Recognized Assets or Liabilities [Member] | ||
Derivative [Line Items] | ||
Derivative Assets Interest Rate Contracts | $ 24 | $ 1,004 |
Derivative assets | 24 | 1,004 |
Derivative Liabilities Interest Rate Contracts | 1,790 | 71 |
Derivative liabilities | 1,790 | 71 |
Gross Amount Offset in the Condensed Statement of Financial Condition [Member] | ||
Derivative [Line Items] | ||
Derivative Assets Interest Rate Contracts | 24 | 0 |
Derivative assets | 24 | 0 |
Derivative Liabilities Interest Rate Contracts | 24 | 0 |
Derivative liabilities | 24 | 0 |
Net Amount of Assets or Liabilities Presented in the Condensed Statement of Financial Condition [Member] | ||
Derivative [Line Items] | ||
Derivative Assets Interest Rate Contracts | 0 | 1,004 |
Derivative assets | 0 | 1,004 |
Derivative Liabilities Interest Rate Contracts | 1,766 | 71 |
Derivative liabilities | 1,766 | 71 |
Gross Amount Not Offset in the Condensed Statement of Financial Condition, Financial Instruments [Member] | ||
Derivative [Line Items] | ||
Derivative Assets Interest Rate Contracts | 0 | 0 |
Derivative assets | 0 | 0 |
Derivative Liabilities Interest Rate Contracts | 0 | 0 |
Derivative liabilities | 0 | 0 |
Gross Amount Not Offset in the Condensed Statement of Financial Condition, Cash Collateral Received [Member] | ||
Derivative [Line Items] | ||
Derivative Assets Interest Rate Contracts | 0 | 0 |
Derivative assets | 0 | 0 |
Derivative Liabilities Interest Rate Contracts | 0 | 0 |
Derivative liabilities | 0 | 0 |
Net Amount [Member] | ||
Derivative [Line Items] | ||
Derivative Assets Interest Rate Contracts | 0 | 1,004 |
Derivative assets | 0 | 1,004 |
Derivative Liabilities Interest Rate Contracts | 1,766 | 71 |
Derivative liabilities | $ 1,766 | $ 71 |
Subsequent Events Subsequent Ev
Subsequent Events Subsequent Events (Details) | Apr. 26, 2016$ / shares |
Subsequent Event [Member] | |
Subsequent Event [Line Items] | |
Quarterly cash dividend declared, common stock | $ 0.12 |