Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended | |
Sep. 30, 2013 | Nov. 12, 2013 | |
Document And Entity Information [Abstract] | ' | ' |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 30-Sep-13 | ' |
Document Fiscal Year Focus | '2013 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Entity Registrant Name | 'HOPFED BANCORP INC | ' |
Entity Central Index Key | '0001041550 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Smaller Reporting Company | ' |
Entity Common Stock, Shares Outstanding | ' | 7,469,267 |
Consolidated_Condensed_Stateme
Consolidated Condensed Statements of Financial Condition (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Assets | ' | ' |
Cash and due from banks | $24,566 | $31,563 |
Interest-earning deposits | 3,777 | 5,613 |
Cash and cash equivalents | 28,343 | 37,176 |
Federal Home Loan Bank stock, at cost | 4,428 | 4,428 |
Securities available for sale | 322,776 | 356,345 |
Loans receivable, net of allowance for loan losses of $9,418 at September 30, 2013, and $10,648 at December 31, 2012 | 532,013 | 524,985 |
Accrued interest receivable | 5,042 | 5,398 |
Real estate and other assets owned | 1,439 | 1,548 |
Bank owned life insurance | 9,574 | 9,323 |
Premises and equipment, net | 21,707 | 22,557 |
Deferred tax assets | 4,033 | ' |
Intangible asset | 162 | 292 |
Other assets | 5,936 | 5,637 |
Total assets | 935,453 | 967,689 |
Deposits: | ' | ' |
Non-interest-bearing | 98,437 | 94,083 |
Interest-bearing accounts: | ' | ' |
Interest-bearing checking | 155,655 | 147,047 |
Savings and money market | 89,869 | 81,643 |
Other time deposits | 382,976 | 437,092 |
Total deposits | 726,937 | 759,865 |
Federal Home Loan Bank advances | 47,276 | 43,741 |
Repurchase agreements | 48,182 | 43,508 |
Subordinated debentures | 10,310 | 10,310 |
Advances from borrowers for taxes and insurance | 822 | 396 |
Dividends payable | 326 | 180 |
Deferred tax liability | ' | 568 |
Accrued expenses and other liabilities | 4,882 | 4,122 |
Total liabilities | 838,735 | 862,690 |
Stockholders' equity: | ' | ' |
Preferred stock, par value $0.01 per share; authorized - 500,000 shares; 18,400 shares issued and no shares outstanding at September 30, 2013, and December 31, 2012 | ' | ' |
Common stock, par value $.01 per share; authorized 15,000,000 shares; 7,927,287 issued and 7,474,267 outstanding at September 30, 2013, and 7,905,728 issued and 7,502,812 outstanding at December 31, 2012 | 79 | 79 |
Common stock warrant | ' | 556 |
Additional paid-in-capital | 76,662 | 76,288 |
Retained earnings | 43,916 | 41,829 |
Accumulated other comprehensive income, net of taxes | 96 | 9,723 |
Total stockholders' equity | 96,718 | 104,999 |
Total liabilities and stockholders' equity | 935,453 | 967,689 |
Preferred Stock [Member] | ' | ' |
Stockholders' equity: | ' | ' |
Treasury stock | -18,400 | -18,400 |
Common Stock [Member] | ' | ' |
Stockholders' equity: | ' | ' |
Treasury stock | -5,635 | -5,076 |
Total stockholders' equity | $79 | $79 |
Consolidated_Condensed_Stateme1
Consolidated Condensed Statements of Financial Condition (Parenthetical) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, except Share data, unless otherwise specified | ||
Loans receivable, allowance for loan losses | $9,418 | $10,648 |
Preferred stock, par value | $0.01 | $0.01 |
Preferred stock, shares authorized | 500,000 | 500,000 |
Preferred stock, shares issued | 18,400 | 18,400 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value | $0.01 | $0.01 |
Common stock, shares authorized | 15,000,000 | 15,000,000 |
Common stock, shares issued | 7,927,287 | 7,905,728 |
Common stock, shares outstanding | 7,474,267 | 7,502,812 |
Preferred Stock [Member] | ' | ' |
Treasury stock, shares | 18,400 | 18,400 |
Common Stock [Member] | ' | ' |
Treasury stock, shares | 453,020 | 402,916 |
Consolidated_Condensed_Stateme2
Consolidated Condensed Statements of Income (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Interest and dividend income: | ' | ' | ' | ' |
Loans receivable | $6,605 | $7,403 | $20,163 | $22,617 |
Investment in securities, taxable | 1,641 | 2,014 | 5,237 | 6,823 |
Nontaxable securities available for sale | 544 | 573 | 1,676 | 1,695 |
Interest-earning deposits | 5 | 6 | 18 | 20 |
Total interest and dividend income | 8,795 | 9,996 | 27,094 | 31,155 |
Interest expense: | ' | ' | ' | ' |
Deposits | 1,622 | 2,640 | 5,604 | 8,279 |
Advances from Federal Home Loan Bank | 445 | 1,017 | 1,335 | 2,155 |
Repurchase agreements | 245 | 236 | 717 | 721 |
Subordinated debentures | 184 | 185 | 548 | 553 |
Total interest expense | 2,496 | 4,078 | 8,204 | 11,708 |
Net interest income | 6,299 | 5,918 | 18,890 | 19,447 |
Provision for loan losses | 426 | 506 | 1,208 | 1,775 |
Net interest income after provision for loan losses | 5,873 | 5,412 | 17,682 | 17,672 |
Non-interest income: | ' | ' | ' | ' |
Other-than-temporary impairment losses on debt securities | -511 | ' | -511 | ' |
Portion of losses recognized in other comprehensive income | 111 | ' | 111 | ' |
Net impairment losses recognized in earnings | -400 | ' | -400 | ' |
Service charges | 949 | 963 | 2,739 | 2,874 |
Merchant card income | 245 | 212 | 727 | 620 |
Mortgage origination revenue | 147 | 218 | 559 | 684 |
Gain on sale of securities | 201 | 944 | 1,617 | 1,618 |
Income from bank owned life insurance | 88 | 80 | 250 | 238 |
Financial services commission | 314 | 280 | 958 | 778 |
Other operating income | 225 | 200 | 630 | 641 |
Total non-interest income | 1,769 | 2,897 | 7,080 | 7,453 |
Non-interest expenses: | ' | ' | ' | ' |
Salaries and benefits | 3,735 | 3,447 | 11,297 | 10,515 |
Occupancy | 878 | 875 | 2,605 | 2,614 |
Data processing | 652 | 610 | 1,948 | 1,863 |
State bank tax | 143 | 161 | 432 | 485 |
Intangible amortization | 33 | 48 | 130 | 178 |
Professional services | 493 | 435 | 1,435 | 1,320 |
Deposit insurance and examination | 137 | 419 | 548 | 1,272 |
Advertising | 292 | 324 | 933 | 952 |
Postage and communications | 149 | 146 | 427 | 444 |
Supplies | 159 | 64 | 388 | 280 |
Loss on disposal of equipment | ' | 5 | ' | 13 |
Loss (gain) on real estate owned | -54 | 68 | -7 | 287 |
Real estate owned | 78 | 19 | 186 | 90 |
Other operating | 289 | 350 | 1,060 | 1,196 |
Total non-interest expense | 6,984 | 6,971 | 21,382 | 21,509 |
Income before income tax | 658 | 1,338 | 3,380 | 3,616 |
Income tax expense | 122 | 263 | 694 | 652 |
Net income | 536 | 1,075 | 2,686 | 2,964 |
Less: | ' | ' | ' | ' |
Dividend on preferred shares | ' | 229 | ' | 689 |
Accretion dividend on preferred shares | ' | 27 | ' | 83 |
Net income available to common shareholders | $536 | $819 | $2,686 | $2,192 |
Net income available to common shareholders | ' | ' | ' | ' |
Per share, basic | $0.07 | $0.11 | $0.36 | $0.29 |
Per share, diluted | $0.07 | $0.11 | $0.36 | $0.29 |
Dividend per share | $0.04 | $0.02 | $0.08 | $0.06 |
Weighted average shares outstanding - basic | 7,483,582 | 7,487,283 | 7,483,606 | 7,485,571 |
Weighted average shares outstanding - diluted | 7,483,582 | 7,487,283 | 7,483,606 | 7,485,571 |
Consolidated_Condensed_Stateme3
Consolidated Condensed Statements of Comprehensive Income (Loss) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Statement Of Income And Comprehensive Income [Abstract] | ' | ' | ' | ' |
Net income | $536 | $1,075 | $2,686 | $2,964 |
Other comprehensive income, net of tax: | ' | ' | ' | ' |
Unrealized gain (loss) on investment securities available for sale, net of tax effect of $637 and ($1,180) for the three months ended September 30, 2013 and September 30, 2012, respectively; and $4,640 and ($2,008) for the nine months ended September 30, 2013, and September 30, 2012, respectively; | -1,236 | 1,770 | -9,007 | 3,897 |
Unrealized gain on derivatives, net of tax effect of ($22) and ($5) for the three month period ended September 30, 2013, and September 30, 2012, respectively; and of ($94) and ($26) for the nine month periods ending September 30, 2013, and September 30, 2012, respectively; | 43 | 10 | 183 | 50 |
Reclassification adjustment for other than temporary impairment included in net income, net of tax effect of ($136) for the three and nine month periods ended September 30, 2013. | 264 | ' | 264 | ' |
Reclassification adjustment for gains included in net income, net of tax effect of $68 and $321 for the three month periods ended September 30, 2013, and September 30, 2012, respectively; and $550 for the nine month periods ended September 30, 2013, and September 30, 2012, respectively; | -132 | -623 | -1,067 | -1,068 |
Total other comprehensive income, net of tax | -1,061 | 1,157 | -9,627 | 2,879 |
Comprehensive income (loss) | ($525) | $2,232 | ($6,941) | $5,843 |
Consolidated_Condensed_Stateme4
Consolidated Condensed Statements of Comprehensive Income (Loss) (Parenthetical) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Statement Of Income And Comprehensive Income [Abstract] | ' | ' | ' | ' |
Unrealized gain (loss) on investment securities available for sale, tax effect | $637 | ($1,180) | $4,640 | ($2,008) |
Unrealized gain (loss) on derivatives, tax effect | -22 | -5 | -94 | -26 |
Reclassification adjustment for other than temporary impairment included in net income, net of tax effect | -136 | ' | -136 | ' |
Reclassification adjustment for gains included in net income, tax effect | $68 | $321 | $550 | $550 |
Consolidated_Condensed_Stateme5
Consolidated Condensed Statement of Stockholders' Equity (USD $) | Total | Common Stock [Member] | Preferred Stock [Member] | Common Stock Warrants [Member] | Additional Capital Surplus [Member] | Retained Earnings [Member] | Treasury Stock Preferred [Member] | Treasury Stock Common [Member] | Accumulated Other Comprehensive Income [Member] |
In Thousands, except Share data | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | |
Beginning balance at Dec. 31, 2012 | $104,999 | $79 | ' | $556 | $76,288 | $41,829 | ($18,400) | ($5,076) | $9,723 |
Beginning balance, Shares at Dec. 31, 2012 | ' | 7,502,812 | 18,400 | ' | ' | ' | ' | ' | ' |
Restricted stock awards, Shares | ' | 21,559 | ' | ' | ' | ' | ' | ' | ' |
Consolidated net income | 2,686 | ' | ' | ' | ' | 2,686 | ' | ' | ' |
Compensation expense, restricted stock awards | 75 | ' | ' | ' | 75 | ' | ' | ' | ' |
Net change in unrealized gain on securities available for sale, net of income tax benefit of $5,054 | -9,810 | ' | ' | ' | ' | ' | ' | ' | -9,810 |
Net change in unrealized loss on derivatives, net of income taxes of $94 | 183 | ' | ' | ' | ' | ' | ' | ' | 183 |
Repurchase of warrant | -257 | ' | ' | -556 | 299 | ' | ' | ' | ' |
Repurchase of treasury stock | -559 | ' | ' | ' | ' | ' | ' | -559 | ' |
Repurchase of treasury stock, Shares | ' | -50,104 | ' | ' | ' | ' | ' | ' | ' |
Cash dividend to common stockholders | -599 | ' | ' | ' | ' | -599 | ' | ' | ' |
Ending balance at Sep. 30, 2013 | $96,718 | $79 | ' | ' | $76,662 | $43,916 | ($18,400) | ($5,635) | $96 |
Ending balance, Shares at Sep. 30, 2013 | ' | 7,474,267 | 18,400 | ' | ' | ' | ' | ' | ' |
Consolidated_Condensed_Stateme6
Consolidated Condensed Statement of Stockholders' Equity (Parenthetical) (USD $) | 9 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2013 |
Net change in unrealized gain on securities available for sale, net of income taxes | $5,054 |
Net change in unrealized loss on derivatives, net of income tax benefit | 94 |
Accumulated Other Comprehensive Income [Member] | ' |
Net change in unrealized gain on securities available for sale, net of income taxes | 5,054 |
Net change in unrealized loss on derivatives, net of income tax benefit | $94 |
Consolidated_Condensed_Stateme7
Consolidated Condensed Statements of Cash Flows (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Cash flows from operating activities: | ' | ' |
Net cash provided by operating activities | $6,473 | $5,716 |
Cash flows from investing activities | ' | ' |
Proceeds from sales, calls and maturities of securities available for sale | 99,619 | 140,001 |
Purchase of securities available for sale | -80,959 | -101,768 |
Net (increase) decrease in loans | -9,033 | 13,978 |
Proceeds from sale of foreclosed assets | 913 | 2,403 |
Purchase of premises and equipment | -288 | -517 |
Net cash provided by investing activities | 10,252 | 54,097 |
Cash flows from financing activities: | ' | ' |
Net increase in demand deposits | 4,354 | 8,901 |
Net decrease in time and other deposits | -37,282 | -39,740 |
Increase in advances from borrowers for taxes and insurance | 426 | 486 |
Advances from Federal Home Loan Bank | 23,000 | 8,000 |
Repayment of advances from Federal Home Loan Bank | -19,465 | -27,097 |
Net increase (decrease) in repurchase agreements | 4,674 | -281 |
Cash used to repurchase warrant | -257 | ' |
Cash used to repurchase common stock | -559 | ' |
Dividend paid on preferred stock | ' | -690 |
Dividends paid on common stock | -449 | -449 |
Net cash used in financing activities | -25,558 | -50,870 |
Increase (decrease) in cash and cash equivalents | -8,833 | 8,943 |
Cash and cash equivalents, beginning of period | 37,176 | 48,760 |
Cash and cash equivalents, end of period | 28,343 | 57,703 |
Supplemental disclosures of Cash Flow Information: | ' | ' |
Interest paid | 8,463 | 11,892 |
Income taxes paid | 495 | 1,545 |
Supplemental disclosures of non-cash investing and financing activities: | ' | ' |
Loans charged off | 2,858 | 3,086 |
Foreclosures and in substance foreclosures of loans during period | 797 | 1,104 |
Net unrealized gains (losses) on investment securities classified as available for sale | -14,864 | 4,286 |
Increase (decrease) in deferred tax asset related to unrealized gains on investments | 5,054 | 1,457 |
Dividends declared and payable | 299 | 150 |
Issue of unearned restricted stock | $232 | $74 |
Basis_of_Presentation
Basis of Presentation | 9 Months Ended |
Sep. 30, 2013 | |
Accounting Policies [Abstract] | ' |
Basis of Presentation | ' |
(1) BASIS OF PRESENTATION | |
HopFed Bancorp, Inc. (the “Company”) was formed at the direction of Heritage Bank, formerly Hopkinsville Federal Savings Bank (the “Bank”), to become the holding company of the Bank upon the conversion of the Bank from a federally chartered mutual savings bank to a federally chartered stock savings bank. The conversion was consummated on February 6, 1998. | |
On June 5, 2013, Heritage Bank changed its legal name to Heritage Bank USA, Inc. and became a Kentucky state chartered commercial bank regulated by the Kentucky Department of Financial Institutions and the Federal Deposit Insurance Corporation. On June 5, 2013, HopFed Bancorp, Inc. become a commercial bank holding company regulated by the Board of Governors of the Federal Reserve System. The Company’s primary assets are the outstanding capital stock of the converted Bank, and its sole business is that of the converted Bank. The Bank owns 100% of the stock of Fall and Fall Insurance Agency (“Fall & Fall”) of Fulton, Kentucky. Fall & Fall sells life and casualty insurance to both individuals and businesses. The majority of Fall & Fall’s customer base is within the geographic footprint of the Bank. | |
The Bank operates a mortgage division, Heritage Mortgage Services, in Clarksville, Tennessee with agents located in several of its markets. The Bank has a financial services division, Heritage Wealth Management, with offices in Murray, Kentucky, Kingston Springs, Tennessee and Pleasant View, Tennessee. Agents of Heritage Wealth Management travel throughout western Kentucky and middle Tennessee offering fixed and variable annuities, mutual funds and brokerage services. | |
The accompanying unaudited financial statements have been prepared in accordance with accounting principles generally accepted (“GAAP”) in the United States of America for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of only normal recurring accruals) necessary for fair representation have been included. The results of operations and other data for the nine month period ended September 30, 2013, are not necessarily indicative of results that may be expected for the entire fiscal year ending December 31, 2013. | |
The accompanying unaudited financial statements should be read in conjunction with the Consolidated Financial Statements and the Notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2012. The accounting policies followed by the Company are set forth in the Summary of Significant Accounting Policies in the Company’s December 31, 2012, Consolidated Financial Statements. |
Income_Per_Share
Income Per Share | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Earnings Per Share [Abstract] | ' | ||||||||
Income Per Share | ' | ||||||||
(2) INCOME PER SHARE | |||||||||
The following schedule reconciles the numerators and denominators of the basic and diluted income per share (“IPS”) computations for the three and nine month periods ended September 30, 2013, and September 30, 2012. Diluted common shares arise from the potentially dilutive effect of the Company’s stock options and warrant outstanding. | |||||||||
Three Month Periods Ended | |||||||||
September 30, | |||||||||
2013 | 2012 | ||||||||
Basic IPS: | |||||||||
Net income available to common stockholders | $ | 536,000 | $ | 819,000 | |||||
Average common shares outstanding | 7,483,582 | 7,487,283 | |||||||
Net income per share available to common shareholders, basic | $ | 0.07 | $ | 0.11 | |||||
Diluted IPS | |||||||||
Net income available to common stockholders | $ | 536,000 | $ | 819,000 | |||||
Average common shares outstanding | 7,483,582 | 7,487,283 | |||||||
Dilutive effect of stock options | — | — | |||||||
Average diluted shares outstanding | 7,483,582 | 7,487,283 | |||||||
Net income per share available to common shareholders, diluted | $ | 0.07 | $ | 0.11 | |||||
Nine Month Periods Ended | |||||||||
September 30, | |||||||||
2013 | 2012 | ||||||||
Basic IPS: | |||||||||
Net income available to common stockholders | $ | 2,686,000 | $ | 2,192,000 | |||||
Average common shares outstanding | 7,483,606 | 7,485,571 | |||||||
Net income per share available to common shareholders, basic | $ | 0.36 | $ | 0.29 | |||||
Diluted IPS | |||||||||
Net income available to common stockholders | $ | 2,686,000 | $ | 2,192,000 | |||||
Average common shares outstanding | 7,483,606 | 7,485,571 | |||||||
Dilutive effect of stock options | — | — | |||||||
Average diluted shares outstanding | 7,483,606 | 7,485,571 | |||||||
Net income per share available to common shareholders, diluted | $ | 0.36 | $ | 0.29 | |||||
Stock_Compensation
Stock Compensation | 9 Months Ended | ||||
Sep. 30, 2013 | |||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ||||
Stock Compensation | ' | ||||
(3) STOCK COMPENSATION | |||||
The Company incurred compensation cost related to the HopFed Bancorp, Inc. 2004 Long Term Incentive Plan of $28,000 and $75,000 for the three and nine month periods ended September 30, 2013, and $23,000 and $77,000 for the three and nine month periods ended September 30, 2012, respectively. The Company issued 21,332 shares of restricted stock during the three month period ended September 30, 2013. The Company issued 21,559 shares of restricted stock during the nine month period ended September 30, 2013. The Company issued 10,392 shares of restricted stock during the nine month period ended September 30, 2012. The Company did not issue restricted stock during the three month period ended September 30, 2012. The table below provides a detail of the Company’s future compensation expense related to restricted stock vesting at September 30, 2013: | |||||
Year Ended | Future | ||||
December 31, | Expense | ||||
2013 | $ | 34,256 | |||
2014 | 124,192 | ||||
2015 | 101,773 | ||||
2016 | 48,272 | ||||
2017 | 3,125 | ||||
Total | $ | 311,618 | |||
The compensation committee may make additional awards of restricted stock, thereby increasing the future expense related to this plan. In addition, award vesting may be accelerated due to certain events as outlined in the restricted stock award agreement. Any acceleration of vesting will change the timing of, but not the aggregate amount of, compensation expense incurred. | |||||
At the 2013 HopFed Bancorp, Inc. Annual Shareholder Meeting, shareholders approved a management recommendation to create the HopFed Bancorp, Inc. 2013 Long Term Incentive Plan (“the 2013 Plan”). The 2013 Plan provides for up to 300,000 shares to be granted to Directors and employees of the Company and the Bank. The details of the plan are discussed in the Company’s Definitive Proxy Statement dated April 5, 2013, and SEC Form S-8 dated June 28, 2013. The 2013 Plan replaces the Company’s 2004 Long Term Incentive Plan. At September 30, 2013, the Company has issued 21,332 shares of restricted stock under the 2013 Long Term Incentive Plan and may issue an additional 278,668 shares of restricted stock under the plan. |
Securities
Securities | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Investments Debt And Equity Securities [Abstract] | ' | ||||||||||||||||||||||||
Securities | ' | ||||||||||||||||||||||||
(4) SECURITIES | |||||||||||||||||||||||||
Management evaluates securities for other-than-temporary impairment at least on a quarterly basis, and more frequently when economic or market concerns warrant such evaluations. Consideration is given to (1) the length of time and the extent to which the fair value has been less than cost, (2) the financial condition and near-term prospects of the issuer, and (3) the intent and ability of the Company to retain its investment in the issuer for a period of time sufficient to allow for any anticipated recovery in fair value. | |||||||||||||||||||||||||
At September 30, 2013, the Company has 88 securities with unrealized losses. The carrying amount of securities and their estimated fair values at September 30, 2013, were as follows: | |||||||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||||||
Gross | Gross | Estimated | |||||||||||||||||||||||
Amortized | Unrealized | Unrealized | Fair | ||||||||||||||||||||||
Cost | Gains | Losses | Value | ||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||
Restricted: | |||||||||||||||||||||||||
FHLB stock | $ | 4,428 | — | — | 4,428 | ||||||||||||||||||||
Unrestricted: | |||||||||||||||||||||||||
U.S. government and agency securities: | |||||||||||||||||||||||||
Agency debt securities | $ | 120,813 | 2,284 | (2,050 | ) | 121,047 | |||||||||||||||||||
Corporate bonds | 2,000 | — | (8 | ) | 1,992 | ||||||||||||||||||||
Taxable municipal bonds | 17,813 | 317 | (456 | ) | 17,674 | ||||||||||||||||||||
Tax free municipal bonds | 66,281 | 2,418 | (811 | ) | 67,888 | ||||||||||||||||||||
Trust preferred securities | 1,600 | — | (111 | ) | 1,489 | ||||||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||||||
GNMA | 18,086 | 725 | (105 | ) | 18,706 | ||||||||||||||||||||
FNMA | 67,913 | 675 | (1,565 | ) | 67,023 | ||||||||||||||||||||
FHLMC | 1,418 | 17 | — | 1,435 | |||||||||||||||||||||
NON-AGENCY CMOs | 13,807 | 36 | (387 | ) | 13,456 | ||||||||||||||||||||
AGENCY CMOs | 12,052 | 189 | (175 | ) | 12,066 | ||||||||||||||||||||
$ | 321,783 | 6,661 | (5,668 | ) | 322,776 | ||||||||||||||||||||
The carrying amount of securities and their estimated fair values at December 31, 2012, was as follows: | |||||||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||
Amortized | Gross | Gross | Estimated | ||||||||||||||||||||||
Cost | Unrealized | Unrealized | Fair | ||||||||||||||||||||||
Gains | Losses | Value | |||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||
Restricted: | |||||||||||||||||||||||||
FHLB stock | $ | 4,428 | — | — | 4,428 | ||||||||||||||||||||
Unrestricted: | |||||||||||||||||||||||||
U.S. government and agency securities: | |||||||||||||||||||||||||
Agency debt securities | $ | 147,659 | 5,202 | (83 | ) | 152,778 | |||||||||||||||||||
Taxable municipal bonds | 12,535 | 1,209 | (8 | ) | 13,736 | ||||||||||||||||||||
Tax free municipal bonds | 68,331 | 5,756 | (40 | ) | 74,047 | ||||||||||||||||||||
Trust preferred securities | 2,000 | — | (511 | ) | 1,489 | ||||||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||||||
GNMA | 19,172 | 1,244 | (19 | ) | 20,397 | ||||||||||||||||||||
FNMA | 64,805 | 2,558 | (58 | ) | 67,305 | ||||||||||||||||||||
FHLMC | 4,519 | 153 | — | 4,672 | |||||||||||||||||||||
SLMA CMO | 5,412 | 80 | — | 5,492 | |||||||||||||||||||||
AGENCY CMOs | 16,055 | 426 | (52 | ) | 16,429 | ||||||||||||||||||||
$ | 340,488 | 16,628 | (771 | ) | 356,345 | ||||||||||||||||||||
The scheduled maturities of debt securities available for sale at September 30, 2013, were as follows: | |||||||||||||||||||||||||
Amortized | Estimated | ||||||||||||||||||||||||
Cost | Fair | ||||||||||||||||||||||||
Value | |||||||||||||||||||||||||
Due within one year | $ | 305 | $ | 308 | |||||||||||||||||||||
Due in one to five years | 14,276 | 14,485 | |||||||||||||||||||||||
Due in five to ten years | 36,507 | 36,032 | |||||||||||||||||||||||
Due after ten years | 50,984 | 51,618 | |||||||||||||||||||||||
102,072 | 102,443 | ||||||||||||||||||||||||
Amortizing agency bonds | 106,435 | 107,646 | |||||||||||||||||||||||
Mortgage-backed securities | 113,276 | 112,687 | |||||||||||||||||||||||
Total unrestricted securities available for sale | $ | 321,783 | $ | 322,776 | |||||||||||||||||||||
The scheduled maturities of debt securities available for sale at December 31, 2012, were as follows: | |||||||||||||||||||||||||
Amortized | Estimated | ||||||||||||||||||||||||
Cost | Fair | ||||||||||||||||||||||||
Value | |||||||||||||||||||||||||
Due within one year | $ | 345 | $ | 346 | |||||||||||||||||||||
Due in one to five years | 11,499 | 11,682 | |||||||||||||||||||||||
Due in five to ten years | 30,007 | 32,316 | |||||||||||||||||||||||
Due in more than ten years | 53,222 | 57,290 | |||||||||||||||||||||||
95,073 | 101,634 | ||||||||||||||||||||||||
Amortizing agency bonds | 135,452 | 140,416 | |||||||||||||||||||||||
Mortgage-backed securities | 109,963 | 114,295 | |||||||||||||||||||||||
Total unrestricted securities available for sale | $ | 340,488 | $ | 356,345 | |||||||||||||||||||||
The estimated fair value and unrealized loss amounts of impaired investments as of September 30, 2013, are as follows: | |||||||||||||||||||||||||
Less than 12 months | 12 months or longer | Total | |||||||||||||||||||||||
Estimated | Unrealized | Estimated | Unrealized | Estimated | Unrealized | ||||||||||||||||||||
Fair Value | Losses | Fair Value | Losses | Fair Value | Losses | ||||||||||||||||||||
Available for sale | |||||||||||||||||||||||||
U.S. government and agency securities: | |||||||||||||||||||||||||
Agency debt securities | $ | 36,537 | (2,034 | ) | 1,283 | (16 | ) | 37,820 | (2,050 | ) | |||||||||||||||
Corporate bonds | 1,992 | (8 | ) | — | — | 1,992 | (8 | ) | |||||||||||||||||
Taxable municipals | 6,629 | (421 | ) | 882 | (35 | ) | 7,511 | (456 | ) | ||||||||||||||||
Tax free municipals | 13,915 | (811 | ) | — | — | 13,915 | (811 | ) | |||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||||||
GNMA | 4,330 | (105 | ) | — | — | 4,330 | (105 | ) | |||||||||||||||||
FNMA | 44,187 | (1,565 | ) | — | — | 44,187 | (1,565 | ) | |||||||||||||||||
FHLMC | — | — | — | — | — | — | |||||||||||||||||||
NON-AGENCY CMOs | 5,309 | (387 | ) | — | — | 5,309 | (387 | ) | |||||||||||||||||
AGENCY CMOs | 4,468 | (175 | ) | — | — | 4,468 | (175 | ) | |||||||||||||||||
Total temporarily impaired available for sale securities | $ | 117,367 | (5,506 | ) | 2,165 | (51 | ) | 119,532 | (5,557 | ) | |||||||||||||||
Other-than-temporarily impaired debt securities: (1) | |||||||||||||||||||||||||
Trust preferred securities | — | — | 1,489 | (111 | ) | 1,489 | (111 | ) | |||||||||||||||||
Total temporarily impaired and other-than-temporarily impaired securities | $ | 117,367 | ($ | 5,506 | ) | 3,654 | (162 | ) | 121,021 | (5,668 | ) | ||||||||||||||
(1) | Includes an other-than-temporary impaired available for sale debt securities in which a portion of the other-than-temporary impairment loss remains in accumulated other comprehensive loss. | ||||||||||||||||||||||||
The estimated fair value and unrealized loss amounts of impaired investments as of December 31, 2012, were as follows: | |||||||||||||||||||||||||
Less than 12 months | 12 months or longer | Total | |||||||||||||||||||||||
Estimated | Unrealized | Estimated | Unrealized | Estimated | Unrealized | ||||||||||||||||||||
Fair Value | Losses | Fair Value | Losses | Fair Value | Losses | ||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||
Available for sale | |||||||||||||||||||||||||
U.S. government and agency securities: | |||||||||||||||||||||||||
Agency debt securities | $ | 12,317 | (83 | ) | — | — | 12,317 | (83 | ) | ||||||||||||||||
Taxable municipal bonds | 885 | (8 | ) | — | — | 885 | (8 | ) | |||||||||||||||||
Tax free municipal bonds | 5,315 | (40 | ) | — | — | 5,315 | (40 | ) | |||||||||||||||||
Trust preferred securities | — | — | 1,489 | (511 | ) | 1,489 | (511 | ) | |||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||||||
GNMA | — | — | 1,415 | (19 | ) | 1,415 | (19 | ) | |||||||||||||||||
FNMA | 7,077 | (58 | ) | — | — | 7,077 | (58 | ) | |||||||||||||||||
FHLMC | — | — | — | — | — | — | |||||||||||||||||||
NON-AGENCY CMOs | — | — | — | — | — | — | |||||||||||||||||||
AGENCY CMOs | 3,691 | (52 | ) | — | — | 3,691 | (52 | ) | |||||||||||||||||
Total Available for Sale | $ | 29,285 | (241 | ) | 2,904 | (530 | ) | 32,189 | (771 | ) | |||||||||||||||
At September 30, 2013, the Company has determined that all securities with unrealized losses are temporarily impaired with one exception as discussed below. | |||||||||||||||||||||||||
In June of 2008, the Company purchased $2.0 million of an $8.0 million private placement subordinated trust preferred debt instrument issued by First Financial Services Corporation (“FFKY”) of Elizabethtown, Kentucky with a fixed rate of interest of 8.0%. The additional capital was used to finance a small acquisition within the Louisville, Kentucky metropolitan area for FFKY, a $969.7 million commercial bank holding company headquartered in Elizabethtown, Kentucky. | |||||||||||||||||||||||||
In October of 2010, FFKY notified the Company that it would defer future dividend payments to its investment trust (the trust preferred agreement allows for a deferral period of up to five years). Since October 2010, the Company has not recognized interest on the trust preferred debt and has continued to review all publically available financial information related to FFKY and its banking subsidiary, First Federal Savings Bank of Elizabethtown. In 2013, the Company has noted improvements in credit quality, earnings and capital retention at of FFKY. However, three years into the five year permitted deferral period, it appears unlikely that FFKY will be able to resume dividend payments by October 2015. As a result of this conclusion, the Company determined that its investment in FFKY was other than temporarily impaired at September 30, 2013. | |||||||||||||||||||||||||
The Company used several sources of information to develop a rational for the impairment charge. The most significant source of information was the auction of FFKY’s $20.0 million in Preferred Stock issued to the United States Treasury as part of the TARP program. The Treasury sold the securities in April 2013 for approximately 54% of par. The preferred securities are equity and are subordinated to the Company’s trust securities. Therefore, this auction was used to help establish a floor for the value of the subordinated debt. Furthermore, improvements in FFKY’s financial condition, including a tier one capital ratio of 7.27% and a total risk based capital ratio of 12.36%, make it evident to the Company that FFKY remains a viable institution unlikely to fail. However, the timing of our receipt of past due and future dividends is uncertain and the investment’s book value should be reduced based on the continued lack of cash flow provided by the subordinated debt. Therefore, at September 30, 2013, the Company determined that we would reduce the value of our investment in the subordinated debt by $400,000 through an impairment charge. | |||||||||||||||||||||||||
The following table summarizes other-than-temporary impairment losses on securities for the nine month period ended September 30, 2013: | |||||||||||||||||||||||||
Trust Preferred | |||||||||||||||||||||||||
Securities | Total | ||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||
Total other-than-temporary impairment losses | $ | 511 | $ | 511 | |||||||||||||||||||||
Less: unrealized other-than-temporary losses recognized in accumulated other comprehensive loss (1) | 111 | 111 | |||||||||||||||||||||||
Net impairment losses recognized in earnings (2) | $ | 400 | $ | 400 | |||||||||||||||||||||
-1 | Represents the non-credit component of the other-than-temporary impairment | ||||||||||||||||||||||||
-2 | Represents the credit component of the other-than-temporary impairment | ||||||||||||||||||||||||
Activity related to the credit component recognized in earnings on debt securities held by the Company for which a portion of other-than-temporary impairment was recognized in accumulated other comprehensive loss for the nine month period ended September 30, 2013 and 2012, respectively, is as follows: | |||||||||||||||||||||||||
Nine month period ended | |||||||||||||||||||||||||
30-Sep-13 | |||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||
Balance, December 31, 2012 | $ | — | |||||||||||||||||||||||
Credit losses on securities for which other-than-temporary impairment was not previously recorded: | 400 | ||||||||||||||||||||||||
Additional credit losses on securities for which an other-than temporary impairment charge was previously recorded | — | ||||||||||||||||||||||||
Reductions for securities sold during the period | — | ||||||||||||||||||||||||
Balance, September 30, 2013 | $ | 400 | |||||||||||||||||||||||
At September 30, 2013, securities with a book value of approximately $154.7 million and a market value of approximately $150.1 million were pledged to various municipalities for deposits in excess of FDIC limits as required by law. The Federal Home Loan Bank of Cincinnati has issued letters of credit in the Bank’s name totaling $13.5 million secured by the Bank’s loan portfolio to secure additional municipal deposits. | |||||||||||||||||||||||||
At September 30, 2013, securities with a book and market value of $32.2 million were sold under agreements to repurchase from various customers. Furthermore, the Company has two wholesale repurchase agreements with third parties secured by investments with a combined book value of $19.9 million and a market value of $19.4 million. One repurchase agreement is in the amount of $6.0 million and has a maturity of September 18, 2016, and is currently callable on a quarterly basis and has a fixed rate of interest of 4.36%. The second repurchase agreement, in the amount of $10.0 million, has a maturity of September 5, 2014, is currently callable quarterly and has a fixed rate of interest of 4.28%. |
Loans
Loans | 9 Months Ended | ||||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||||
Receivables [Abstract] | ' | ||||||||||||||||||||||||||||
Loans | ' | ||||||||||||||||||||||||||||
(5) LOANS | |||||||||||||||||||||||||||||
Set forth below is selected data relating to the composition of the loan portfolio by type of loan at September 30, 2013, and December 31, 2012. At September 30, 2013 and December 31, 2012, there were no concentrations of loans exceeding 10% of total loans other than as disclosed below: | |||||||||||||||||||||||||||||
September 30, 2013 | September 30, 2013 | December 31, 2012 | December 31, 2012 | ||||||||||||||||||||||||||
Amount | Percent | Amount | Percent | ||||||||||||||||||||||||||
(Dollars in thousands, except percentages) | |||||||||||||||||||||||||||||
Real estate loans: | |||||||||||||||||||||||||||||
One-to-four family (closed end) first mortgages | $ | 157,857 | 29.2 | % | $ | 162,335 | 30.3 | % | |||||||||||||||||||||
Second mortgages (closed end) | 3,576 | 0.7 | % | 4,336 | 0.8 | % | |||||||||||||||||||||||
Home equity lines of credit | 35,072 | 6.5 | % | 37,083 | 6.9 | % | |||||||||||||||||||||||
Multi-family | 28,433 | 5.2 | % | 33,056 | 6.2 | % | |||||||||||||||||||||||
Construction | 9,358 | 1.7 | % | 18,900 | 3.5 | % | |||||||||||||||||||||||
Land | 37,647 | 6.9 | % | 45,906 | 8.6 | % | |||||||||||||||||||||||
Farmland | 50,908 | 9.4 | % | 46,799 | 8.7 | % | |||||||||||||||||||||||
Non-residential real estate | 151,495 | 28 | % | 122,637 | 22.9 | % | |||||||||||||||||||||||
Total mortgage loans | 474,346 | 87.6 | % | 471,052 | 87.9 | % | |||||||||||||||||||||||
Consumer loans | 12,379 | 2.3 | % | 13,886 | 2.6 | % | |||||||||||||||||||||||
Commercial loans | 54,735 | 10.1 | % | 50,549 | 9.5 | % | |||||||||||||||||||||||
Total other loans | 67,114 | 12.4 | % | 64,435 | 12.1 | % | |||||||||||||||||||||||
Total loans, gross | 541,460 | 100 | % | 535,487 | 100 | % | |||||||||||||||||||||||
Deferred loan costs (fees), net of income | (29 | ) | 146 | ||||||||||||||||||||||||||
Less allowance for loan losses | (9,418 | ) | (10,648 | ) | |||||||||||||||||||||||||
Total loans | $ | 532,013 | $ | 524,985 | |||||||||||||||||||||||||
The Company assigns an industry standard NAICS code to each loan in the Company’s portfolio. By assigning a standard code to each type of loan, management can more readily determine concentrations in risk by industry, location and loan type. This information is most useful when analyzing the Company’s non-residential real estate loan portfolio. At September 30, 2013, and December 31, 2012, the Company’s non-residential real estate loan portfolio was made up of the following loan types: | |||||||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
Land | $ | 37,647 | 45,906 | ||||||||||||||||||||||||||
Manufacturing | 4,102 | 3,856 | |||||||||||||||||||||||||||
Professional, Technical | 1,884 | 2,025 | |||||||||||||||||||||||||||
Retail Trade | 11,768 | 12,391 | |||||||||||||||||||||||||||
Other Services | 19,419 | 18,303 | |||||||||||||||||||||||||||
Finance & Insurance | 1,886 | 386 | |||||||||||||||||||||||||||
Agricultural, Forestry, Fishing & Hunting | 47,421 | 42,420 | |||||||||||||||||||||||||||
Real Estate and Rental and Leasing | 53,221 | 48,249 | |||||||||||||||||||||||||||
Wholesale Trade | 21,745 | 8,891 | |||||||||||||||||||||||||||
Arts, Entertainment & Recreation | 3,127 | 3,461 | |||||||||||||||||||||||||||
Accommodations / Food Service | 26,002 | 17,152 | |||||||||||||||||||||||||||
Healthcare and Social Assistance | 6,972 | 7,932 | |||||||||||||||||||||||||||
Transportation & Warehousing | 1,152 | 1,295 | |||||||||||||||||||||||||||
Information | 2,469 | 2,488 | |||||||||||||||||||||||||||
Non-industry | 863 | 46 | |||||||||||||||||||||||||||
Admin Support / Waste Mgmt | 372 | 541 | |||||||||||||||||||||||||||
Total | $ | 240,050 | 215,342 | ||||||||||||||||||||||||||
The allowance for loan losses totaled $9.4 million at September 30, 2013, $10.6 million at December 31, 2012, and $10.5 million at September 30, 2012, respectively. The ratio of the allowance for loan losses to total loans was 1.74% at September 30, 2013, 1.99% at December 31, 2012, and 1.91% at September 30, 2012. | |||||||||||||||||||||||||||||
The following table indicates the type and level of non-accrual loans at the dates indicated below: | |||||||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | September 30, 2012 | |||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
One-to-four family mortgages | $ | 865 | 2,243 | 2,795 | |||||||||||||||||||||||||
Home equity line of credit | 275 | 66 | 24 | ||||||||||||||||||||||||||
Junior lien | 2 | 4 | — | ||||||||||||||||||||||||||
Multi-family | — | 38 | 190 | ||||||||||||||||||||||||||
Construction | — | — | — | ||||||||||||||||||||||||||
Land | 2,257 | 2,768 | 3,279 | ||||||||||||||||||||||||||
Non-residential real estate | 7,187 | 1,134 | 1,268 | ||||||||||||||||||||||||||
Farmland | 744 | 648 | 49 | ||||||||||||||||||||||||||
Consumer loans | 316 | 145 | 59 | ||||||||||||||||||||||||||
Commercial loans | 482 | 617 | 2,160 | ||||||||||||||||||||||||||
Total non-accrual loans | $ | 12,128 | 7,663 | 9,824 | |||||||||||||||||||||||||
The following table provides a detail of the Company’s activity in the allowance for loan loss account by loan type for the nine month period ended September 30, 2013: | |||||||||||||||||||||||||||||
Balance | Charge off | Recovery | General | Specific | Ending | ||||||||||||||||||||||||
12/31/12 | 2013 | 2013 | Provision | Provision | Balance | ||||||||||||||||||||||||
2013 | 2013 | 9/30/13 | |||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
One-to-four family mortgages | $ | 2,490 | (432 | ) | 47 | (350 | ) | 386 | 2,141 | ||||||||||||||||||||
Home equity line of credit | 374 | (21 | ) | 9 | (80 | ) | 2 | 284 | |||||||||||||||||||||
Junior liens | 230 | (119 | ) | 27 | 43 | (79 | ) | 102 | |||||||||||||||||||||
Multi-family | 524 | (38 | ) | 164 | (136 | ) | (164 | ) | 350 | ||||||||||||||||||||
Construction | 256 | — | — | (187 | ) | — | 69 | ||||||||||||||||||||||
Land | 2,184 | (393 | ) | 7 | (954 | ) | 282 | 1,126 | |||||||||||||||||||||
Non-residential real estate | 2,914 | (1,040 | ) | 14 | 431 | 1,359 | 3,678 | ||||||||||||||||||||||
Farmland | 719 | — | — | (96 | ) | (184 | ) | 439 | |||||||||||||||||||||
Consumer loans | 338 | (535 | ) | 146 | 242 | 387 | 578 | ||||||||||||||||||||||
Commercial loans | 619 | (280 | ) | 6 | 296 | 10 | 651 | ||||||||||||||||||||||
Total | $ | 10,648 | (2,858 | ) | 420 | (791 | ) | 1,999 | 9,418 | ||||||||||||||||||||
The following table provides a detail of the Company’s activity in the allowance for loan loss account by loan type for the year ended December 31, 2012: | |||||||||||||||||||||||||||||
Balance | Charge off | Recovery | General | Specific | Balance | ||||||||||||||||||||||||
12/31/11 | 2012 | 2012 | Provision | Provision | 12/31/12 | ||||||||||||||||||||||||
2012 | 2012 | ||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
One-to-four family mortgages | $ | 2,640 | (379 | ) | 81 | 324 | (176 | ) | 2,490 | ||||||||||||||||||||
Home equity line of credit | 408 | (67 | ) | 6 | 6 | 21 | 374 | ||||||||||||||||||||||
Junior liens | 277 | (1 | ) | 4 | — | (50 | ) | 230 | |||||||||||||||||||||
Multi-family | 1,201 | (417 | ) | — | 429 | (689 | ) | 524 | |||||||||||||||||||||
Construction | 139 | — | — | 117 | — | 256 | |||||||||||||||||||||||
Land | 1,332 | (1,033 | ) | 405 | 635 | 845 | 2,184 | ||||||||||||||||||||||
Non-residential real estate | 3,671 | (1,120 | ) | 137 | 718 | (492 | ) | 2,914 | |||||||||||||||||||||
Farmland | — | — | — | 315 | 404 | 719 | |||||||||||||||||||||||
Consumer loans | 262 | (510 | ) | 150 | 404 | 32 | 338 | ||||||||||||||||||||||
Commercial loans | 1,332 | (157 | ) | 12 | (171 | ) | (397 | ) | 619 | ||||||||||||||||||||
Total | $ | 11,262 | (3,684 | ) | 795 | 2,777 | (502 | ) | 10,648 | ||||||||||||||||||||
The table below presents currently performing, past due and non-accrual balances at September 30, 2013, by loan classification allocated between performing and non-performing: | |||||||||||||||||||||||||||||
Currently | 30 - 89 | Non-accrual | Special | Impaired Loans | |||||||||||||||||||||||||
Days | Currently Performing | ||||||||||||||||||||||||||||
September 30, 2013 | Performing | Past Due | Loans | Mention | Substandard | Doubtful | Total | ||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
One-to-four family mortgages | $ | 148,481 | 1,682 | 865 | 1,423 | 5,406 | — | 157,857 | |||||||||||||||||||||
Home equity line of credit | 33,672 | 248 | 275 | — | 877 | — | 35,072 | ||||||||||||||||||||||
Junior liens | 3,128 | 33 | 2 | 44 | 369 | — | 3,576 | ||||||||||||||||||||||
Multi-family | 28,433 | — | — | — | — | — | 28,433 | ||||||||||||||||||||||
Construction | 9,007 | 175 | — | 176 | — | — | 9,358 | ||||||||||||||||||||||
Land | 17,259 | 133 | 2,257 | 1,789 | 16,209 | — | 37,647 | ||||||||||||||||||||||
Non-residential real estate | 127,731 | 90 | 7,187 | 2,183 | 14,304 | — | 151,495 | ||||||||||||||||||||||
Farmland | 44,428 | 103 | 744 | 807 | 4,826 | — | 50,908 | ||||||||||||||||||||||
Consumer loans | 11,376 | 151 | 316 | — | 536 | — | 12,379 | ||||||||||||||||||||||
Commercial loans | 51,324 | 91 | 482 | 96 | 2,742 | — | 54,735 | ||||||||||||||||||||||
Total | $ | 474,839 | 2,706 | 12,128 | 6,518 | 45,269 | — | 541,460 | |||||||||||||||||||||
The table below presents currently performing, past due and non-accrual balances at December 31, 2012, by loan classification allocated between performing and non-performing: | |||||||||||||||||||||||||||||
Currently | 30 - 89 | Non-accrual | Special | Impaired Loans | |||||||||||||||||||||||||
Days | Currently Performing | ||||||||||||||||||||||||||||
December 31, 2012 | Performing | Past Due | Loans | Mention | Substandard | Doubtful | Total | ||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
One-to-four family mortgages | $ | 155,936 | 1,339 | 2,243 | 779 | 2,038 | — | 162,335 | |||||||||||||||||||||
Home equity line of credit | 34,732 | 5 | 66 | 1,109 | 1,171 | — | 37,083 | ||||||||||||||||||||||
Junior liens | 3,584 | 237 | 4 | 47 | 464 | — | 4,336 | ||||||||||||||||||||||
Multi-family | 27,463 | — | 38 | 1,478 | 4,077 | — | 33,056 | ||||||||||||||||||||||
Construction | 13,876 | 176 | — | — | 4,848 | — | 18,900 | ||||||||||||||||||||||
Land | 14,237 | 137 | 2,768 | 7,683 | 21,081 | — | 45,906 | ||||||||||||||||||||||
Non-residential real estate | 101,894 | 293 | 1,134 | 1,230 | 18,647 | — | 123,198 | ||||||||||||||||||||||
Farmland | 44,256 | — | 648 | 669 | 665 | — | 46,238 | ||||||||||||||||||||||
Consumer loans | 13,266 | 74 | 145 | — | 401 | — | 13,886 | ||||||||||||||||||||||
Commercial loans | 43,961 | 230 | 617 | 516 | 5,225 | — | 50,549 | ||||||||||||||||||||||
Total | $ | 453,205 | 2,491 | 7,663 | 13,511 | 58,617 | — | 535,487 | |||||||||||||||||||||
All loans listed as 30-89 days past due and non-accrual are not performing as agreed. Loans listed as special mention, substandard and doubtful are paying as agreed. However, the customer’s financial statements may indicate weaknesses in their current cash flow, the customer’s industry may be in decline due to current economic conditions, collateral values used to secure the loan may be declining, or the Company may be concerned about the customer’s future business prospects. | |||||||||||||||||||||||||||||
The Company does not originate loans it considers sub-prime and is not aware of any exposure to the additional credit concerns associated with sub-prime lending in either the Company’s loan or investment portfolios. The Company does have a significant amount of construction and land development loans. Management reports to the Company’s Board of Directors on the status of the Company’s specific construction and development loans as well as the market trends in those markets in which the Company actively participates. | |||||||||||||||||||||||||||||
The Company’s annualized net charge off ratios for nine month periods ended September 30, 2013, September 30, 2012, and the year ended December 31, 2012, was 0.61%, 0.61% and 0.52%, respectively. The ratios of allowance for loan losses to non-accrual loans at September 30, 2013, September 30, 2012, and December 31, 2012, was 77.67%, 106.78%, and 138.99% respectively. | |||||||||||||||||||||||||||||
The table on the below sets forth an analysis of the Bank’s allowance for loan losses for the periods presented: | |||||||||||||||||||||||||||||
Nine month period ended | Year ended | Nine month period ended | |||||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | September 30, 2012 | |||||||||||||||||||||||||||
(Dollars in Thousands, Except Percentages) | |||||||||||||||||||||||||||||
Beginning balance, allowance for loan loss | $ | 10,648 | 11,262 | 11,262 | |||||||||||||||||||||||||
Charge offs | |||||||||||||||||||||||||||||
One-to-four family mortgages | (432 | ) | (379 | ) | (282 | ) | |||||||||||||||||||||||
Home equity line of credit | (21 | ) | (67 | ) | (65 | ) | |||||||||||||||||||||||
Junior liens | (119 | ) | (1 | ) | (1 | ) | |||||||||||||||||||||||
Multi-family | (38 | ) | (417 | ) | (416 | ) | |||||||||||||||||||||||
Construction | — | — | — | ||||||||||||||||||||||||||
Land | (393 | ) | (1,033 | ) | (1,033 | ) | |||||||||||||||||||||||
Non-residential real estate | (1,040 | ) | (1,120 | ) | (799 | ) | |||||||||||||||||||||||
Consumer loans | (535 | ) | (510 | ) | (284 | ) | |||||||||||||||||||||||
Commercial loans | (280 | ) | (157 | ) | (206 | ) | |||||||||||||||||||||||
Total charge offs | (2,858 | ) | (3,684 | ) | (3,086 | ) | |||||||||||||||||||||||
Recoveries | |||||||||||||||||||||||||||||
One-to-four family mortgages | 47 | 81 | 77 | ||||||||||||||||||||||||||
Home equity line of credit | 9 | 6 | 5 | ||||||||||||||||||||||||||
Junior liens | 27 | 4 | 3 | ||||||||||||||||||||||||||
Multi-family | 164 | — | — | ||||||||||||||||||||||||||
Construction | — | — | — | ||||||||||||||||||||||||||
Land | 7 | 405 | 234 | ||||||||||||||||||||||||||
Non-residential real estate | 14 | 137 | 100 | ||||||||||||||||||||||||||
Consumer loans | 146 | 150 | 110 | ||||||||||||||||||||||||||
Commercial loans | 6 | 12 | 10 | ||||||||||||||||||||||||||
Total recoveries | 420 | 795 | 539 | ||||||||||||||||||||||||||
Net Charge offs | (2,438 | ) | (2,889 | ) | (2,547 | ) | |||||||||||||||||||||||
Provision for loan losses | 1,208 | 2,275 | 1,775 | ||||||||||||||||||||||||||
Ending balance | 9,418 | 10,648 | 10,490 | ||||||||||||||||||||||||||
Average loan balance, gross | $ | 537,233 | 533,081 | 556,332 | |||||||||||||||||||||||||
Ratio of net charge offs to average outstanding loans during the period | 0.61 | % | 0.52 | % | 0.61 | % | |||||||||||||||||||||||
The determination of the allowance for loan losses is based on management’s analysis, completed on a quarterly basis. Various factors are considered, including the market value of the underlying collateral, growth and composition of the loan portfolio, the relationship of the allowance for loan losses to outstanding loans, historical loss experience, delinquency trends and prevailing economic conditions. Although management believes its allowance for loan losses is adequate, there can be no assurance that additional allowances will not be required or that losses on loans will not be incurred. | |||||||||||||||||||||||||||||
The Company conducts annual reviews on all loan relationships above $1 million to ascertain the borrowers continued ability to service their debt as agreed. In addition to the credit relationships mentioned above, management may classify any credit relationship once it becomes aware of adverse credit trends for that customer. Typically, the annual review consists of updated financial statements for borrowers and any guarantors, a review of the borrower’s credit history with the Company and other creditors, and current income tax information. | |||||||||||||||||||||||||||||
As a result of this review, management will classify loans based on their credit risk. Additionally, the Company provides a risk grade for all loans past due more than sixty days. The Company uses the following risk definitions for risk grades: | |||||||||||||||||||||||||||||
Satisfactory loans of average strength having some deficiency or vulnerability to changing economic or industry conditions. These customers should have reasonable amount of capital and operating ratios. Secured loans may lack in margin or liquidity. Loans to individuals, perhaps supported in dollars of net worth, but with supporting assets may be difficult to liquidate. | |||||||||||||||||||||||||||||
Watch loans are acceptable credits: (1) that need continual monitoring, such as out-of territory or asset-based loans (since the Bank does not have an asset-based lending department), or (2) with a marginal risk level to business concerns and individuals that; (a) have exhibited favorable performance in the past, though currently experiencing negative trends; (b) are in an industry that is experiencing volatility or is declining, and their performance is less than industry norms; and (c) are experiencing unfavorable trends in their financial position, such as one-time net losses or declines in asset values. These marginal borrowers may have early warning signs of problems such as occasional overdrafts and minor delinquency. If considered marginal, a loan would be a “watch” until financial data demonstrated improved performance or further deterioration to a “substandard” grade usually within a 12-month period. In the table on page 25, Watch loans are included with satisfactory loans and classified as Pass. | |||||||||||||||||||||||||||||
Other Loans Especially Mentioned are currently protected but are potentially weak. These loans constitute an undue and unwarranted credit risk but not to the point of justifying a substandard classification. The credit risk may be relatively minor yet constitutes an unwarranted risk in light of the circumstances surrounding a specific loan. These credit weaknesses, if not checked or corrected, will weaken the loan or inadequately protect the Bank’s credit position at some future date. | |||||||||||||||||||||||||||||
A Substandard loan is inadequately protected by the current sound worth and paying capacity of the obligor or of the collateral pledged. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. The loans are characterized by the distinct possibility that the Bank will sustain some loss if the deficiencies are not corrected. This does not imply ultimate loss of the principal, but may involve burdensome administrative expenses and the accompanying cost to carry the credit. Examples of substandard loans include those to borrowers with insufficient or negative cash flow, negative net worth coupled with inadequate guarantor support, inadequate working capital, and/or significantly past-due loans and overdrafts. | |||||||||||||||||||||||||||||
A loan classified Doubtful has all the weaknesses inherent in a substandard credit except that the weaknesses make collection or liquidation in full (on the basis of currently existing facts, conditions, and values) highly questionable and improbable. The possibility of loss is extremely high, but because of certain pending factors charge-off is deferred until its more exact status may be determined. Pending factors include proposed merger, acquisition, or liquidation procedures, capital injection, perfecting liens on additional collateral, and refinancing plans. The doubtful classification is applied to that portion of the credit in which the full collection of principal and interest is questionable. | |||||||||||||||||||||||||||||
A loan is considered to be impaired when management determines that it is probable that the Company will be unable to collect all principal and interest payments due in accordance with the contractual terms of the loan agreement. The value of individually impaired loans is measured based on the present value of expected payments using the fair value of the collateral if the loan is collateral dependent. Currently, it is management’s practice to classify all substandard or doubtful loans as impaired. At September 30, 2013, December 31, 2012, and September 30, 2012, the Company’s impaired loans totaled $45.3 million, $66.6 million and $75.8 million, respectively. At September 30, 2013, December 31, 2012, and September 30, 2012, the Company’s specific reserve for impaired loans totaled $3.4 million, $3.8 million and $3.6 million, respectively. | |||||||||||||||||||||||||||||
A summary of the Company’s impaired loans, including their respective regulatory classification and their respective specific reserve at September 30, 2013, were as follows: | |||||||||||||||||||||||||||||
Special | Impaired Loans | Specific | Allowance | ||||||||||||||||||||||||||
Allowance | for | ||||||||||||||||||||||||||||
for | Performing | ||||||||||||||||||||||||||||
September 30, 2013 | Pass | Mention | Substandard | Doubtful | Total | Impairment | Loans | ||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
One-to-four family mortgages | $ | 151,028 | 1,423 | 5,406 | — | 157,857 | 755 | 1,386 | |||||||||||||||||||||
Home equity line of credit | 34,195 | — | 877 | — | 35,072 | 66 | 218 | ||||||||||||||||||||||
Junior liens | 3,163 | 44 | 369 | — | 3,576 | 17 | 85 | ||||||||||||||||||||||
Multi-family | 28,433 | — | — | — | 28,433 | — | 350 | ||||||||||||||||||||||
Construction | 9,182 | 176 | — | — | 9,358 | — | 69 | ||||||||||||||||||||||
Land | 19,649 | 1,789 | 16,209 | — | 37,647 | 828 | 298 | ||||||||||||||||||||||
Non-residential real estate | 135,008 | 2,183 | 14,304 | — | 151,495 | 1,573 | 2,105 | ||||||||||||||||||||||
Farmland | 45,275 | 807 | 4,826 | — | 50,908 | — | 439 | ||||||||||||||||||||||
Consumer loans | 11,839 | — | 540 | — | 12,379 | 119 | 459 | ||||||||||||||||||||||
Commercial loans | 51,893 | 96 | 2,746 | — | 54,735 | 44 | 607 | ||||||||||||||||||||||
Total | $ | 489,665 | 6,518 | 45,277 | — | 541,460 | 3,402 | 6,016 | |||||||||||||||||||||
A summary of the Company’s impaired loans and their respective reserve at December 31, 2012, were as follows: | |||||||||||||||||||||||||||||
Special | Impaired Loans | Specific | Allowance | ||||||||||||||||||||||||||
Allowance | for | ||||||||||||||||||||||||||||
for | Performing | ||||||||||||||||||||||||||||
Pass | Mention | Substandard | Doubtful | Total | Impairment | Loans | |||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
One-to-four family mortgages | $ | 156,961 | 779 | 4,595 | — | 162,335 | 754 | 1,736 | |||||||||||||||||||||
Home equity line of credit | 34,737 | 1,109 | 1,237 | — | 37,083 | 76 | 298 | ||||||||||||||||||||||
Junior liens | 3,821 | 47 | 468 | — | 4,336 | 188 | 42 | ||||||||||||||||||||||
Multi-family | 27,463 | 1,478 | 4,115 | — | 33,056 | 38 | 486 | ||||||||||||||||||||||
Construction | 14,052 | — | 4,848 | — | 18,900 | — | 256 | ||||||||||||||||||||||
Land | 14,374 | 7,683 | 23,849 | — | 45,906 | 932 | 1,252 | ||||||||||||||||||||||
Non-residential real estate | 107,947 | 669 | 14,021 | — | 122,637 | 1,240 | 1,681 | ||||||||||||||||||||||
Farmland | 38,496 | 1,230 | 7,073 | — | 46,799 | 184 | 528 | ||||||||||||||||||||||
Consumer loans | 13,330 | — | 556 | — | 13,886 | 121 | 217 | ||||||||||||||||||||||
Commercial loans | 44,191 | 516 | 5,842 | — | 50,549 | 308 | 311 | ||||||||||||||||||||||
Total | $ | 455,372 | 13,511 | 66,604 | — | 535,487 | 3,841 | 6,807 | |||||||||||||||||||||
Impaired loans by classification type and the related valuation allowance amounts at September 30, 2013, were as follows: | |||||||||||||||||||||||||||||
For the nine month period ended | |||||||||||||||||||||||||||||
At September 30, 2013 | September 30, 2013 | ||||||||||||||||||||||||||||
Recorded | Unpaid | Related | Average | Interest | |||||||||||||||||||||||||
Investment | Principal | Allowance | Recorded | Income | |||||||||||||||||||||||||
Balance | Investment | Recognized | |||||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||
Impaired loans with no recorded reserve: | |||||||||||||||||||||||||||||
One-to-four family mortgages | $ | 2,310 | 2,310 | — | 2,087 | 4 | |||||||||||||||||||||||
Home equity line of credit | 602 | 602 | — | 539 | 3 | ||||||||||||||||||||||||
Junior liens | 2 | 2 | — | 239 | — | ||||||||||||||||||||||||
Multi-family | — | — | — | 1,321 | — | ||||||||||||||||||||||||
Construction | — | — | — | 1,371 | — | ||||||||||||||||||||||||
Land | 12,663 | 12,663 | — | 10,446 | 96 | ||||||||||||||||||||||||
Farmland | 4,826 | 4,826 | — | 4,669 | 115 | ||||||||||||||||||||||||
Non-residential real estate | 8,495 | 8,495 | — | 7,058 | 20 | ||||||||||||||||||||||||
Consumer loans | 64 | 64 | — | 44 | 7 | ||||||||||||||||||||||||
Commercial loans | 2,623 | 2,623 | — | 2,500 | 51 | ||||||||||||||||||||||||
Total | $ | 31,585 | 31,585 | — | 30,274 | 296 | |||||||||||||||||||||||
Recorded | Unpaid | Related | Average | Interest | |||||||||||||||||||||||||
Investment | Principal | Allowance | Recorded | Income | |||||||||||||||||||||||||
Balance | Investment | Recognized | |||||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||
Impaired loans with recorded reserve: | |||||||||||||||||||||||||||||
One-to-four family mortgages | $ | 3,096 | 3,220 | 755 | 2,701 | 26 | |||||||||||||||||||||||
Home equity line of credit | 275 | 275 | 66 | 372 | 1 | ||||||||||||||||||||||||
Junior liens | 367 | 367 | 17 | 151 | 1 | ||||||||||||||||||||||||
Multi-family | — | — | — | — | — | ||||||||||||||||||||||||
Construction | — | — | — | — | — | ||||||||||||||||||||||||
Land | 3,546 | 3,546 | 828 | 4,351 | 20 | ||||||||||||||||||||||||
Farmland | — | — | — | 151 | — | ||||||||||||||||||||||||
Non-residential real estate | 5,809 | 6,842 | 1,573 | 4,150 | 3 | ||||||||||||||||||||||||
Consumer loans | 476 | 476 | 119 | 373 | — | ||||||||||||||||||||||||
Commercial loans | 123 | 212 | 44 | 536 | 1 | ||||||||||||||||||||||||
Total | $ | 13,692 | 14,938 | 3,402 | 12,785 | 52 | |||||||||||||||||||||||
Total impaired loans | $ | 45,277 | 46,523 | 3,402 | 43,059 | 348 | |||||||||||||||||||||||
Impaired loans by classification type and the related valuation allowance amounts at December 31, 2012, were as follows: | |||||||||||||||||||||||||||||
At December 31, 2012 | |||||||||||||||||||||||||||||
Recorded | Unpaid | Related | Average | Interest | |||||||||||||||||||||||||
Investment | Principal | Allowance | Recorded | Income | |||||||||||||||||||||||||
Balance | Investment | Recognized | |||||||||||||||||||||||||||
Impaired loans with no recorded reserve: | |||||||||||||||||||||||||||||
One-to-four family mortgages | $ | 1,759 | 1,759 | — | 5,279 | 107 | |||||||||||||||||||||||
Home equity line of credit | 1,169 | 1,169 | — | 869 | 50 | ||||||||||||||||||||||||
Junior liens | — | — | — | 281 | 3 | ||||||||||||||||||||||||
Multi-family | 4,077 | 4,077 | — | 3,626 | 219 | ||||||||||||||||||||||||
Construction | 4,848 | 4,848 | — | 3,133 | 174 | ||||||||||||||||||||||||
Land | 20,279 | 20,279 | — | 19,857 | 504 | ||||||||||||||||||||||||
Farmland | 5,701 | 5,701 | — | 5,701 | 202 | ||||||||||||||||||||||||
Non-residential real estate | 9,662 | 9,662 | — | 14,235 | 653 | ||||||||||||||||||||||||
Consumer loans | 81 | 81 | — | 66 | 5 | ||||||||||||||||||||||||
Commercial loans | 1,617 | 1,617 | — | 2,701 | 165 | ||||||||||||||||||||||||
Total | $ | 49,193 | 49,193 | — | 55,748 | 2,082 | |||||||||||||||||||||||
Recorded | Unpaid | Related | Average | Interest | |||||||||||||||||||||||||
Investment | Principal | Allowance | Recorded | Income | |||||||||||||||||||||||||
Balance | Investment | Recognized | |||||||||||||||||||||||||||
Impaired loans with recorded reserve: | |||||||||||||||||||||||||||||
One-to-four family mortgages | 2,836 | 2,836 | 754 | 3,135 | 145 | ||||||||||||||||||||||||
Home equity line of credit | 68 | 68 | 76 | 162 | 3 | ||||||||||||||||||||||||
Junior liens | 468 | 468 | 188 | 365 | 38 | ||||||||||||||||||||||||
Multi-family | 38 | 38 | 38 | 2,640 | 4 | ||||||||||||||||||||||||
Construction | — | — | — | 1,095 | — | ||||||||||||||||||||||||
Land | 3,570 | 3,570 | 932 | 4,848 | 213 | ||||||||||||||||||||||||
Farmland | 1,372 | 1,372 | 184 | 1,372 | 92 | ||||||||||||||||||||||||
Non-residential real estate | 4,359 | 4,359 | 1,240 | 5,206 | 231 | ||||||||||||||||||||||||
Consumer loans | 475 | 475 | 121 | 223 | 1 | ||||||||||||||||||||||||
Commercial loans | 4,225 | 4,225 | 308 | 4,470 | 28 | ||||||||||||||||||||||||
Total | 17,411 | 17,411 | 3,841 | 23,516 | 755 | ||||||||||||||||||||||||
Total impaired loans | $ | 66,604 | 66,604 | 3,841 | 79,264 | 2,837 | |||||||||||||||||||||||
On a periodic basis, the Bank may modify the terms of certain loans. In evaluating whether a restructuring constitutes a troubled debt restructuring (TDR), Financial Accounting Standards Board has issued Accounting Standards Update 310 (ASU 310), A Creditor’s Determination of Whether a Restructuring is a Troubled Debt Restructuring. In evaluating whether a restructuring constitutes a TDR, the Bank must separately conclude that both of the following exist: | |||||||||||||||||||||||||||||
• | The restructuring constitutes a concession | ||||||||||||||||||||||||||||
• | The debtor is experiencing financial difficulties | ||||||||||||||||||||||||||||
ASU 310 provides the following guidance for the Bank’s evaluation of whether it has granted a concession as follows: | |||||||||||||||||||||||||||||
• | If a debtor does not otherwise have access to funds at a market interest rate for debt with similar risk characteristics as the restructured debt, the restructured debt would be considered a below market rate, which may indicate that the Bank may have granted a concession. In that circumstance, the Bank should consider all aspects of the restructuring in determining whether it has granted a concession, the creditor must make a separate assessment about whether the debtor is experiencing financial difficulties to determine whether the restructuring constitutes a TDR. | ||||||||||||||||||||||||||||
• | A temporary or permanent increase in the interest rate on a loan as a result of a restructuring does not eliminate the possibility of the restructuring from being considered a concession if the new interest rate on the loan is below the market interest rate for loans of similar risk characteristics. | ||||||||||||||||||||||||||||
• | A restructuring that results in a delay in payment that is insignificant is not a concession. However, the Bank must consider a variety of factors in assessing whether a restructuring resulting in a delay in payment is insignificant. | ||||||||||||||||||||||||||||
A summary of the Company’s loans classified as Troubled Debt Restructurings (TDR’s) that are reported as performing at September 30, 2013 and December 31, 2012, is below: | |||||||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
TDR by Loan Type: | |||||||||||||||||||||||||||||
One-to-four family mortgages | $ | — | 1,888 | ||||||||||||||||||||||||||
Home equity line of credit | — | — | |||||||||||||||||||||||||||
Junior lien | — | 196 | |||||||||||||||||||||||||||
Multi-family | — | 234 | |||||||||||||||||||||||||||
Construction | — | 4,112 | |||||||||||||||||||||||||||
Land | — | 3,424 | |||||||||||||||||||||||||||
Non-residential real estate | — | 3,173 | |||||||||||||||||||||||||||
Farmland | — | 909 | |||||||||||||||||||||||||||
Consumer loans | — | 5 | |||||||||||||||||||||||||||
Commercial loans | — | 128 | |||||||||||||||||||||||||||
Total TDR | — | 14,069 | |||||||||||||||||||||||||||
Less: | |||||||||||||||||||||||||||||
TDR in non-accrual status | |||||||||||||||||||||||||||||
One-to-four family mortgages | — | — | |||||||||||||||||||||||||||
Home equity line of credit | — | — | |||||||||||||||||||||||||||
Junior lien | — | (100 | ) | ||||||||||||||||||||||||||
Multi-family | — | — | |||||||||||||||||||||||||||
Construction | — | — | |||||||||||||||||||||||||||
Land | — | (2,768 | ) | ||||||||||||||||||||||||||
Non-residential real estate | — | (44 | ) | ||||||||||||||||||||||||||
Farmland | — | — | |||||||||||||||||||||||||||
Consumer loans | — | — | |||||||||||||||||||||||||||
Commercial loans | — | (119 | ) | ||||||||||||||||||||||||||
Total non-accrual TDR | — | (3,031 | ) | ||||||||||||||||||||||||||
Total performing TDR | $ | — | 11,038 | ||||||||||||||||||||||||||
The decline in TDR’s is the largely the result of loans being paid off and refinanced to terms considered to be market driven. |
Real_Estate_and_Other_Assets_O
Real Estate and Other Assets Owned | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Banking And Thrift [Abstract] | ' | ||||||||||||||||||||||||
Real Estate and Other Assets Owned | ' | ||||||||||||||||||||||||
(6) REAL ESTATE AND OTHER ASSETS OWNED | |||||||||||||||||||||||||
The Company’s real estate and other assets owned represent properties and personal collateral acquired through customer loan defaults. The property is recorded at the lower of cost or fair value less estimated cost to sell and carrying cost at the date acquired. Any difference between the book value and estimated market value is recognized as a charge off through the allowance for loan loss account. Additional real estate owned and other asset losses may be determined on individual properties at specific intervals or at the time of disposal. In general, the Company will obtain a new appraisal on all real estate owned with a book balance in excess of $250,000 on an annual basis. Additional losses are recognized as a non-interest expense. | |||||||||||||||||||||||||
At September 30, 2013, December 31, 2012, and September 30, 2012, the Company had balances in other real estate owned and non-accrual loans consisting of the following: | |||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | September 30, 2012 | |||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||
One-to-four family mortgages | $ | 252 | 258 | 147 | |||||||||||||||||||||
Multi-family | — | — | — | ||||||||||||||||||||||
Construction | — | 130 | 216 | ||||||||||||||||||||||
Land | 1,112 | 1,112 | 275 | ||||||||||||||||||||||
Non-residential real estate | 73 | 44 | 43 | ||||||||||||||||||||||
Consumer assets | 2 | 4 | — | ||||||||||||||||||||||
Total other real estate owned | 1,439 | 1,548 | 681 | ||||||||||||||||||||||
Total non-accrual loans | 12,128 | 7,663 | 9,824 | ||||||||||||||||||||||
Total non-performing assets | $ | 13,567 | 9,211 | 10,505 | |||||||||||||||||||||
Non-performing assets / Total assets | 1.45 | % | 0.95 | % | 1.05 | % | |||||||||||||||||||
The following is a summary of the activity in the Company’s real estate and other assets owned for the nine month period ending September 30, 2013: | |||||||||||||||||||||||||
Activity During 2013 | |||||||||||||||||||||||||
Balance | Reduction | Gain (Loss) | Balance | ||||||||||||||||||||||
12/31/12 | Foreclosures | Proceeds | in Values | on Sale | 9/30/13 | ||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||
One-to-four family mortgages | $ | 258 | 750 | (782 | ) | (8 | ) | 34 | 252 | ||||||||||||||||
Multi-family | — | — | — | — | — | — | |||||||||||||||||||
Construction | 130 | — | (110 | ) | (110 | ) | 90 | — | |||||||||||||||||
Land | 1,112 | — | — | — | — | 1,112 | |||||||||||||||||||
Non-residential real estate | 44 | 40 | (18 | ) | (11 | ) | 18 | 73 | |||||||||||||||||
Consumer assets | 4 | 7 | (3 | ) | (4 | ) | (2 | ) | 2 | ||||||||||||||||
Total | $ | 1,548 | 797 | (913 | ) | (133 | ) | 140 | 1,439 | ||||||||||||||||
The following is a summary of the activity in the Company’s real estate and other assets owned for the year ended December 31, 2012: | |||||||||||||||||||||||||
Activity During 2012 | |||||||||||||||||||||||||
Balance | Reduction | Gain (Loss) | Balance | ||||||||||||||||||||||
12/31/11 | Foreclosures | Proceeds | in Values | on Sale | 12/31/12 | ||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||
One-to-four family mortgages | $ | 480 | 983 | (1,084 | ) | (92 | ) | (29 | ) | 258 | |||||||||||||||
Multi-family | 905 | — | (875 | ) | — | (30 | ) | — | |||||||||||||||||
Construction | 465 | — | (321 | ) | — | (14 | ) | 130 | |||||||||||||||||
Land | 248 | 1,229 | (269 | ) | (77 | ) | (19 | ) | 1,112 | ||||||||||||||||
Non-residential real estate | 160 | 64 | (178 | ) | (20 | ) | 18 | 44 | |||||||||||||||||
Consumer assets | 9 | 9 | (11 | ) | — | (3 | ) | 4 | |||||||||||||||||
Total | $ | 2,267 | 2,285 | (2,738 | ) | (189 | ) | (77 | ) | 1,548 | |||||||||||||||
Investments_in_Affiliated_Comp
Investments in Affiliated Companies | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Equity Method Investments And Joint Ventures [Abstract] | ' | ||||||||||||||||
Investments in Affiliated Companies | ' | ||||||||||||||||
(7) INVESTMENTS IN AFFILIATED COMPANIES | |||||||||||||||||
Investments in affiliated companies accounted for under the equity method consist of 100% of the common stock of HopFed Capital Trust 1 (“Trust”), a wholly-owned statutory business trust. The Trust was formed on September 25, 2003. Summary financial information for the Trust follows (Dollars in Thousands): | |||||||||||||||||
Summary Statements of Financial Condition | At September 30, 2013 | At December 31, 2012 | |||||||||||||||
Assets - investment in subordinated debentures issued by HopFed Bancorp, Inc. | $ | 10,310 | 10,310 | ||||||||||||||
Liabilities | |||||||||||||||||
Stockholder’s equity – trust preferred securities | 10,000 | 10,000 | |||||||||||||||
Common stock (100% Owned by HopFed Bancorp, Inc.) | 310 | 310 | |||||||||||||||
Total stockholders’ equity | $ | 10,310 | $ | 10,310 | |||||||||||||
Summary Statement of Income | |||||||||||||||||
Three Month Periods | Nine Month Period | ||||||||||||||||
Ended September 30, | Ended September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Income – interest income from subordinated debentures issued by HopFed Bancorp, Inc. | $ | 88 | 93 | $ | 264 | 282 | |||||||||||
Net income | $ | 88 | 93 | $ | 264 | 282 | |||||||||||
Summary Statement of Stockholders’ Equity | |||||||||||||||||
Trust Preferred | Common | Retained | Total | ||||||||||||||
Securities | Stock | Earnings | Stockholders’ | ||||||||||||||
Equity | |||||||||||||||||
Beginning balances, December 31, 2012 | $ | 10,000 | 310 | — | 10,310 | ||||||||||||
Net income | — | — | 264 | 264 | |||||||||||||
Dividends: | |||||||||||||||||
Trust preferred securities | — | — | (256 | ) | (256 | ) | |||||||||||
Common paid to HopFed Bancorp, Inc. | — | — | (8 | ) | (8 | ) | |||||||||||
Ending balances, September 30, 2013 | $ | 10,000 | 310 | — | 10,310 | ||||||||||||
Fair_Value_of_Assets_and_Liabi
Fair Value of Assets and Liabilities | 9 Months Ended | ||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||||
Fair Value of Assets and Liabilities | ' | ||||||||||||||||||||
(8) FAIR VALUE OF ASSETS AND LIABILITIES | |||||||||||||||||||||
ASC 820-10, Fair Value Measurements defines fair value, establishes a framework for measuring fair value and expands disclosure about fair value. The statement establishes a fair value hierarchy which requires an entity to maximize the use of observable input and minimize the use of unobservable inputs when measuring fair value. The standard describes three levels of inputs that may be used to measure fair value. | |||||||||||||||||||||
• | Level 1 is for assets and liabilities that management has obtained quoted prices (unadjusted for transaction cost) or identical assets or liabilities in active markets that the Company has the ability to access as of the measurement date. | ||||||||||||||||||||
• | Level 2 is for assets and liabilities in which significant unobservable inputs other than Level 1 prices such as quoted prices for similar assets and liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. | ||||||||||||||||||||
• | Level 3 is for assets and liabilities in which significant unobservable inputs that reflect a reporting entity’s own assumptions about the assumptions that market participants would use in pricing an asset or liability. | ||||||||||||||||||||
The fair values of securities available for sale is primarily determined by a matrix pricing, which is a mathematical technique that is widely used in the industry to value debt securities without exclusively using quoted prices for the individual securities in the Company’s portfolio but rather by relying on the securities relationship to other benchmark quoted securities. Impaired loans are valued at the net present value of expected payments using the fair value of any assigned collateral. The values for bank owned life insurance are obtained from stated values from the respective insurance companies. The liability associated with the Company’s derivative is obtained from a quoted value supplied by our correspondent banker. The value of real estate owned is obtained from appraisals completed on properties at the time of acquisition and annually thereafter. | |||||||||||||||||||||
Assets and Liabilities Measured on a Recurring Basis | |||||||||||||||||||||
The assets and liabilities measured at fair value on a recurring basis at September 30, 2013, are summarized below (Dollars in Thousands): | |||||||||||||||||||||
Description | Total carrying | Quoted Prices | Significant | Significant | |||||||||||||||||
value in the | In Active | Other | Unobservable | ||||||||||||||||||
consolidated | Markets for | Observable | Inputs | ||||||||||||||||||
balance sheet at | Identical Assets | Inputs | (Level 3) | ||||||||||||||||||
September 30, 2013 | (Level 1) | (Level 2) | |||||||||||||||||||
Assets | |||||||||||||||||||||
Available for sale securities | $ | 322,776 | — | 321,287 | 1,489 | ||||||||||||||||
Bank owned life insurance | $ | 9,574 | — | 9,574 | — | ||||||||||||||||
Liabilities | |||||||||||||||||||||
Interest rate swap | $ | 848 | — | 848 | — | ||||||||||||||||
The assets and liabilities measured at fair value on a recurring basis at December 31, 2012, are summarized below (Dollars in Thousands): | |||||||||||||||||||||
Description | Total carrying | Quoted Prices | Significant | Significant | |||||||||||||||||
value in the | In Active | Other | Unobservable | ||||||||||||||||||
consolidated | Markets for | Observable | Inputs | ||||||||||||||||||
balance sheet at | Identical Assets | Inputs | (Level 3) | ||||||||||||||||||
December 31, 2012 | (Level 1) | (Level 2) | |||||||||||||||||||
Assets | |||||||||||||||||||||
Available for sale securities | $ | 356,345 | — | 354,856 | 1,489 | ||||||||||||||||
Bank owned life insurance | $ | 9,323 | — | 9,323 | — | ||||||||||||||||
Liabilities | |||||||||||||||||||||
Interest rate swap | $ | 1,126 | — | 1,126 | — | ||||||||||||||||
The assets and liabilities measured at fair value on a non-recurring basis are summarized below for September 30, 2013 (Dollars in Thousands): | |||||||||||||||||||||
Description | Total carrying | Quoted Prices | Significant | Significant | |||||||||||||||||
value in the | In Active | Other | Unobservable | ||||||||||||||||||
consolidated | Markets for | Observable | Inputs | ||||||||||||||||||
balance sheet at | Identical Assets | Inputs | (Level 3) | ||||||||||||||||||
September 30, 2013 | (Level 1) | (Level 2) | |||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||
Assets | |||||||||||||||||||||
Other real estate owned | $ | 1,437 | — | — | 1,437 | ||||||||||||||||
Other assets owned | 2 | — | — | 2 | |||||||||||||||||
Impaired loans, net of reserve of $3,402 | 41,875 | — | — | 41,875 | |||||||||||||||||
The assets and liabilities measured at fair value on a non-recurring basis are summarized below for December 31, 2012 (Dollars in Thousands): | |||||||||||||||||||||
Description | Total carrying | Quoted Prices | Significant | Significant | |||||||||||||||||
value in the | In Active | Other | Unobservable | ||||||||||||||||||
consolidated | Markets for | Observable | Inputs | ||||||||||||||||||
balance sheet at | Identical Assets | Inputs | (Level 3) | ||||||||||||||||||
December 31, 2012 | (Level 1) | (Level 2) | |||||||||||||||||||
Assets | |||||||||||||||||||||
Other real estate owned | $ | 1,544 | — | — | 1,544 | ||||||||||||||||
Other assets owned | 4 | — | — | 4 | |||||||||||||||||
Impaired loans, net of reserve of $3,841 | 62,763 | — | — | 62,763 | |||||||||||||||||
The table below includes a roll-forward of the consolidated condensed statement of financial condition items for the nine month periods ended September 30, 2013, and September 30, 2012, (including the change in fair value) for assets and liabilities classified by HopFed Bancorp, Inc. within level 3 of the valuation hierarchy for assets and liabilities measured at fair value on a recurring basis. When a determination is made to classify an asset or liability within level 3 of the valuation hierarchy, the determination is based upon the significance of the unobservable factors to the overall fair value measurement. However, since level 3 assets and liabilities typically include, in addition to the unobservable or level 3 components, observable components (that is components that are actively quoted and can be validated to external sources), the gains and losses in the table below include changes in fair value due in part to observable factors that are part of the valuation methodology. | |||||||||||||||||||||
Nine month period ended September 30, | 2013 | 2012 | |||||||||||||||||||
Other Assets | Other Liabilities | Other Assets | Other Liabilities | ||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||
Fair value, January 1, | $ | 1,489 | — | 993 | — | ||||||||||||||||
Change in unrealized losses included in other comprehensive income for assets and liabilities still held at September 30, | — | — | 429 | — | |||||||||||||||||
Purchases, issuances and settlements, net | — | — | — | — | |||||||||||||||||
Transfers in and/or out of Level 3 | — | — | — | — | |||||||||||||||||
Fair value, September 30, | $ | 1,489 | — | 1,422 | — | ||||||||||||||||
The estimated fair values of financial instruments were as follows at September 30, 2013: | |||||||||||||||||||||
Carrying | Estimated | Quoted Prices | Using | Significant | |||||||||||||||||
Amount | Fair | In Active Markets | Significant | Unobservable | |||||||||||||||||
Value | for Identical | Other | Inputs | ||||||||||||||||||
Assets | Observable | Level 3 | |||||||||||||||||||
Level 1 | Inputs | ||||||||||||||||||||
Level 2 | |||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||
Financial Assets: | |||||||||||||||||||||
Cash and due from banks | $ | 24,566 | 24,566 | $ | 24,566 | — | — | ||||||||||||||
Interest-earning deposits | 3,777 | 3,777 | 3,777 | — | — | ||||||||||||||||
Securities available for sale | 322,776 | 322,776 | — | 321,287 | 1,489 | ||||||||||||||||
Federal Home Loan Bank stock | 4,428 | 4,428 | — | 4,428 | — | ||||||||||||||||
Loans receivable | 532,013 | 535,651 | — | — | 535,651 | ||||||||||||||||
Accrued interest receivable | 5,042 | 5,042 | — | 5,042 | — | ||||||||||||||||
Bank owned life insurance | 9,574 | 9,574 | — | 9,574 | — | ||||||||||||||||
Financial liabilities: | |||||||||||||||||||||
Deposits | 726,937 | 726,116 | 726,116 | — | |||||||||||||||||
Advances from borrowers for taxes and insurance | 822 | 822 | — | 822 | — | ||||||||||||||||
Advances from Federal Home Loan Bank | 47,276 | 46,168 | — | 46,168 | — | ||||||||||||||||
Repurchase agreements | 48,182 | 49,161 | — | 49,161 | — | ||||||||||||||||
Subordinated debentures | 10,310 | 10,091 | — | — | 10,091 | ||||||||||||||||
Off-balance-sheet liabilities: | |||||||||||||||||||||
Commitments to extend credit | — | — | — | — | — | ||||||||||||||||
Commercial letters of credit | — | — | — | — | — | ||||||||||||||||
Market value of interest rate swap | 848 | 848 | — | 848 | — | ||||||||||||||||
The estimated fair values of financial instruments were as follows at December 31, 2012: | |||||||||||||||||||||
Carrying | Estimated | Quoted Prices | Using | Significant | |||||||||||||||||
Amount | Fair | In Active Markets | Significant | Unobservable | |||||||||||||||||
Value | for Identical | Other | Inputs | ||||||||||||||||||
Assets | Observable | Level 3 | |||||||||||||||||||
Level 1 | Inputs | ||||||||||||||||||||
Level 2 | |||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||
Financial Assets: | |||||||||||||||||||||
Cash and due from banks | $ | 31,563 | 31,563 | $ | 31,563 | — | — | ||||||||||||||
Interest-earning deposits | 5,613 | 5,613 | 5,613 | — | — | ||||||||||||||||
Securities available for sale | 356,345 | 356,345 | — | 354,856 | 1,489 | ||||||||||||||||
Federal Home Loan Bank stock | 4,428 | 4,428 | — | 4,428 | — | ||||||||||||||||
Loans receivable | 524,985 | 532,040 | — | — | 532,040 | ||||||||||||||||
Accrued interest receivable | 5,398 | 5,398 | — | 5,398 | — | ||||||||||||||||
Bank owned life insurance | 9,323 | 9,323 | — | 9,323 | — | ||||||||||||||||
Financial liabilities: | |||||||||||||||||||||
Deposits | 759,865 | 756,426 | — | 756,426 | — | ||||||||||||||||
Advances from borrowers for taxes and insurance | 396 | 396 | — | 396 | — | ||||||||||||||||
Advances from Federal Home Loan Bank | 43,741 | 49,293 | — | 49,293 | — | ||||||||||||||||
Repurchase agreements | 43,508 | 44,779 | — | 44,779 | — | ||||||||||||||||
Subordinated debentures | 10,310 | 10,092 | — | — | 10,092 | ||||||||||||||||
Off-balance-sheet liabilities: | — | ||||||||||||||||||||
Commitments to extend credit | — | — | — | — | — | ||||||||||||||||
Commercial letters of credit | — | — | — | — | — | ||||||||||||||||
Market value of interest rate swap | 1,126 | 1,126 | — | 1,126 | — |
Participation_in_the_United_St
Participation in the United States of America Treasury Department's Capital Purchase Program | 9 Months Ended |
Sep. 30, 2013 | |
Equity [Abstract] | ' |
Participation in the United States of America Treasury Department's Capital Purchase Program | ' |
(9) PARTICIPATION IN THE UNITED STATES OF AMERICA TREASURY DEPARTMENT’S CAPITAL PURCHASE PROGRAM | |
On December 12, 2008, HopFed Bancorp issued and sold 18,400 shares of preferred stock to the United States Treasury (Treasury) for $18,400,000 pursuant to the Capital Purchase Program. The Company also issued a common stock warrant to the Treasury as a condition to its participation in the Capital Purchase Program. The warrant was immediately exercisable and allowed the holder to purchase 253,667 shares of the Company’s common stock at $10.88 per share. The warrant would have expired on December 12, 2018. The preferred stock had no stated maturity and was non-voting, other than having class voting rights on certain matters, and paid cumulative dividends quarterly at a rate of 5% per year for the first five years and 9% thereafter. The Company repurchased the preferred stock from the Treasury at par on December 19, 2012, and repurchased the warrant from the Treasury on January 16, 2013, for $256,257. The Company cancelled all Preferred Treasury Shares on August 22, 2013. |
Stock_Options
Stock Options | 9 Months Ended |
Sep. 30, 2013 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' |
Stock Options | ' |
(10) STOCK OPTIONS | |
At September 30, 2013, all stock options outstanding were issued under the HopFed Bancorp, Inc. 1999 Stock Option Plan. At September 30, 2013, the Company can no longer issue options under this plan. The remaining 20,808 options are fully vested with a strike price of $16.67 and have a final maturity of June 1, 2014. |
Derivative_Instruments
Derivative Instruments | 9 Months Ended |
Sep. 30, 2013 | |
Derivative Instruments And Hedging Activities Disclosure [Abstract] | ' |
Derivative Instruments | ' |
(11) DERIVATIVE INSTRUMENTS | |
Under guidelines of Financial Accounting Standards Board (“FASB”) ASC 815, Derivative Instruments and Hedging Activities, as amended, all derivative instruments are required to be carried at fair value on the consolidated statement of financial position. ASC 815 provides special hedge accounting provisions, which permit the change in fair value of the hedge item related to the risk being hedged to be recognized in earnings in the same period and in the same income statement line as the change in the fair value of the derivative. | |
A derivative instrument designated in a hedge relationship to mitigate exposure to changes in the fair value of an asset, liability or firm commitment attributable to a particular risk, such as interest rate risk, are considered fair value hedges under ASC 815. Derivative instruments designated in a hedge relationship to mitigate exposure to variability in expected future cash flows, or other types of forecasted transactions, are considered cash flow hedges. Cash value hedges are accounted for by recording the fair value of the derivative instrument and the fair value related to the risk being hedged of the hedged asset or liability on the consolidated statement of financial position with corresponding offsets recorded in the consolidated statement of financial position. | |
The adjustment to the hedged asset or liability is included in the basis of the hedged item, while the fair value of the derivative is recorded as a freestanding asset or liability. Actual cash receipts or payments and related amounts accrued during the period on derivatives included in a fair value hedge relationship are recorded as adjustments to the income or expense recorded on the hedged asset or liability. | |
Under both the fair value and cash flow hedge methods, derivative gains and losses not effective in hedging the change in fair value or expected cash flows of the hedged item are recognized immediately in the income statement. At the hedge’s inception and at least quarterly thereafter, a formal assessment is performed to determine whether changes in the fair values or cash flows of the derivative instrument has been highly effective in offsetting changes in the fair values or cash flows of the hedged items and whether they are expected to be highly effective in the future. If it is determined a derivative instrument has not been, or will not continue to be highly effective as a hedge, hedged accounting is discontinued. ASC 815 basis adjustments recorded on hedged assets and liabilities are amortized over the remaining life of the hedged item beginning no later than when hedge accounting ceases. There were no fair value hedging gains or losses, as a result of hedge ineffectiveness, recognized for the nine month period ended September 30, 2013, or the year ended December 31, 2012. | |
In October of 2008, the Bank entered into an interest rate swap agreement for a term of seven years and an amount of $10.0 million. The Bank will pay a fixed rate of 7.27% for seven years and receive an amount equal to the three-month London Interbank Lending Rate (LIBOR) plus 3.10%. The interest rate swap is classified as a cash flow hedge by the Bank and is tested quarterly for effectiveness. At September 30, 2013, and December 31, 2012, the cost of the Bank to terminate the cash flow hedge was approximately $848,000 and $1,126,000, respectively. |
Regulatory_Changes
Regulatory Changes | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Text Block [Abstract] | ' | ||||||||||||||||||||||||
Regulatory Changes | ' | ||||||||||||||||||||||||
(12) REGULATORY CHANGES | |||||||||||||||||||||||||
On June 5, 2013, the Company announced that its wholly owned subsidiary, Heritage Bank, has completed its conversion from a federally chartered savings and loan to a state chartered commercial bank regulated by the Kentucky Department of Financial Institutions and the Federal Deposit Insurance Corporation. In connection with the Bank’s charter conversion, the Company has received approval from the Board of Governors of the Federal Reserve System (the “Federal Reserve”) to convert our holding company from a savings and loan holding company to a bank holding company also with an effective date of June 5, 2013. | |||||||||||||||||||||||||
On July 2, 2013, the Board of Governors of the Federal Reserve Bank approved the final rule for BASEL III capital requirements for all commercial banks charted in the United States of America. The rule was subsequently approved by the FDIC on July 9, 2013. The rule will implement in the United States the Basel III regulatory capital reforms from the Basel Committee on Banking Supervision and certain changes required by the Dodd-Frank Wall Street Reform and Consumer Protection Act. Under the final rule, minimum requirements will increase for both the quantity and quality of capital held by banking organizations. Consistent with the international Basel framework, the rule includes a new minimum ratio of common equity tier 1 capital to risk-weighted assets of 4.5% and a common equity tier 1 capital conservation buffer of 2.5% of risk-weighted assets that will apply to all supervised financial institutions. The rule also raises the minimum ratio of tier 1 capital to risk-weighted assets from 4 percent to 6 percent and includes a minimum leverage ratio of 4 percent for all banking organizations. In addition, for the largest, most internationally active banking organizations, the final rule includes a new minimum supplementary leverage ratio that takes into account off-balance sheet exposures. The transition period for implementation of Basel III is January 1, 2015, through December 31, 2018. | |||||||||||||||||||||||||
Management believes that at September 30, 2013, the Company and the Bank would have met all new capital adequacy requirements on a fully phased-in-basis if such requirements were then effective. There can be no assurance that the Basel III capital rules will not be revised before the effective date and phase-in periods. At September 30, 2013, the Company’s analysis of its capital position as compared to the Basel III requirements for January 1, 2019 is provided in the table below: | |||||||||||||||||||||||||
January 1, 2019 | |||||||||||||||||||||||||
Minimum | Minimum Ratio | ||||||||||||||||||||||||
Actual | Ratio | With Buffer | |||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||
Amount | Ratio | Amount | Ratio | Amount | Ratio | ||||||||||||||||||||
Common Equity Tier 1 Capital Ratio | |||||||||||||||||||||||||
Consolidated | 96,461 | 16.4 | % | 26,495 | 4.5 | % | 41,215 | 7 | % | ||||||||||||||||
Heritage Bank | 100,371 | 17.1 | % | 26,402 | 4.5 | % | 41,070 | 7 | % | ||||||||||||||||
Tier 1 Capital Ratio to Risk Weighted Assets | |||||||||||||||||||||||||
Consolidated | 106,461 | 18.1 | % | 35,327 | 6 | % | 50,047 | 8.5 | % | ||||||||||||||||
Heritage Bank | 100,371 | 17.1 | % | 35,203 | 6 | % | 49,870 | 8.5 | % | ||||||||||||||||
Minimum Total Capital Ratio to Risk Weighted Assets | |||||||||||||||||||||||||
Consolidated | 113,818 | 19.3 | % | 47,103 | 8 | % | 61,823 | 10.5 | % | ||||||||||||||||
Heritage Bank | 107,728 | 18.4 | % | 46,937 | 8 | % | 61,605 | 10.5 | % |
Effect_of_New_Accounting_Prono
Effect of New Accounting Pronouncements | 9 Months Ended |
Sep. 30, 2013 | |
Accounting Changes And Error Corrections [Abstract] | ' |
Effect of New Accounting Pronouncements | ' |
(13) EFFECT OF NEW ACCOUNTING PRONOUNCEMENTS | |
ASU 2012-02, “Intangibles – Goodwill and Other (Topic 350) - Testing Indefinite-Lived Intangible Assets for Impairment.” ASU 2012-02 give entities the option to first assess qualitative factors to determine whether the existence of events or circumstances leads to a determination that it is more likely than not that an indefinite-lived intangible asset is impaired. If, after assessing the totality of events or circumstances, an entity determines it is more likely than not that an indefinite-lived intangible asset is impaired, then the entity must perform the quantitative impairment test. If, under the quantitative impairment test, the carrying amount of the intangible asset exceeds its fair value, an entity should recognize an impairment loss in the amount of that excess. | |
Permitting an entity to assess qualitative factors when testing indefinite-lived intangible assets for impairment results in guidance that is similar to the goodwill impairment testing guidance in ASU 2011-08. ASU 2012-02 is effective for the Company’s beginning January 1, 2013 (early adoption permitted) and did not have a significant impact on the Company’s financial statements. | |
ASU 2012-06,“Business Combinations (Topic 805) – Subsequent Accounting for an Indemnification Asset Recognized at the Acquisition Date as a Result of a Government-Assisted Acquisition of a Financial Institution (a consensus of the FASB Emerging Issues Task Force).” ASU 2012-06 clarifies the applicable guidance for subsequently measuring an indemnification asset recognized as a result of a government-assisted acquisition of a financial institution. | |
Under ASU 2012-06, when a reporting entity recognizes an indemnification asset as a result of a government-assisted acquisition of a financial institution and, subsequently, a change in the cash flows expected to be collected on the indemnification asset occurs (as a result of a change in cash flows expected to be collected on the assets subject to indemnification), the reporting entity should subsequently account for the change in the measurement of the indemnification asset on the same basis as the change in the assets subject to indemnification. Any amortization of changes in value should be limited to the contractual term of the indemnification agreement (that is, the lesser of the term of the indemnification agreement and the remaining life of the indemnified assets). ASU 2012-06 became effective for the Company on January 1, 2013 and did not have a significant impact on the Corporation’s financial statements. | |
ASU 2013-02, “Comprehensive Income (Topic 220) – Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income.” ASU 2013-02 amends recent guidance related to the reporting of comprehensive income to enhance the reporting of reclassifications out of accumulated other comprehensive income. ASU 2013-02 became effective for the Company on January 1, 2013, and did not have a significant impact on the Company’s financial statements. | |
ASU 2013-08, “Financial Services – Investment Companies (Topic 946) – Amendments to the Scope, Measurement and Disclosure Requirements.” ASU 2013-08 clarifies the characteristics of investment companies and sets forth a new approach for determining whether a company is an investment company. The fundamental characteristics of an investment company include (i) the company obtains funds from investors and provides the investors with investment management services; (ii) the company commits to its investors that its business purpose and only substantive activities are investing the funds for returns solely from capital appreciation, investment income, or both; and (iii) the company or its affiliates do not obtain or have the objective of obtaining returns or benefits from an investee or its affiliates that are not normally attributable to ownership interests or that are other than capital appreciation or investment income. ASU 2013-08 also sets forth the scope, measurement and disclosure requirements for investment companies. ASU 2013-08 is effective for the Company on January 1, 2014 and is not expected to have a significant impact on the Company’s financial statements. | |
ASU 2013-10, “Derivatives and Hedging (Topic 815) – Inclusion of the Fed Funds Effective Swap Rate (or Overnight Index Swap Rate) as a Benchmark Interest Rate for Hedge Accounting Purposes.” ASU 2013-10 permits the Fed Funds Effective Swap Rate (or Overnight Index Swap Rate) to be used as a U.S. benchmark interest rate for hedge accounting purposes under Topic 815, in addition to interest rates on direct Treasury obligations of the U.S. government and the London Interbank Offered Rate (“LIBOR”). ASU 2013-10 is effective prospectively for qualifying new or re-designated hedging relationships entered into on or after July 17, 2013, and did not have a material impact on the Corporation’s financial statements. | |
Other accounting standards that have been issued or proposed by the FASB or other standards-setting bodies are not expected to have a material impact on the Company’s financial position, results of operations or cash flows. |
Income_Taxes
Income Taxes | 9 Months Ended |
Sep. 30, 2013 | |
Income Tax Disclosure [Abstract] | ' |
Income Taxes | ' |
(14) Income Taxes | |
The Company and its subsidiaries file consolidated federal income tax returns and Tennessee excise tax returns. The Company and its non-bank subsidiaries filed consolidated Kentucky income tax returns. The Bank is exempt from Kentucky corporate income tax. The Company has no unrecognized tax benefits and has accrued any interest or penalties for uncertain tax positions. | |
The effective tax rate differs from the statutory federal rate of 35% and Tennessee excise rate of 6.50% due to investments in qualified municipal securities; bank owned life insurance, income apportioned to Kentucky and certain non-deductible expenses. |
Termination_of_Merger_Agreemen
Termination of Merger Agreement | 9 Months Ended |
Sep. 30, 2013 | |
Business Combinations [Abstract] | ' |
Termination of Merger Agreement | ' |
(15) Termination of Merger Agreement | |
On August 23, 2013, the Company announced that a previously announced merger of Heritage Bank USA, Inc. and Sumner Bank and Trust (“Sumner Bank”) of Gallatin, Tennessee, was terminated by mutual consent. The mutual decision to terminate was due to Sumner Bank’s failure to meet a certain performance requirement under the merger agreement. Each party will bear its own costs and expenses in connection with the terminated transaction, without penalties. In the three month period ended September 30, 2013, the Company incurred approximately $150,000 in expenses related to the termination of the merger. |
Loans_Policies
Loans (Policies) | 9 Months Ended | |||
Sep. 30, 2013 | ||||
Receivables [Abstract] | ' | |||
Derivative Instruments and Hedging Activities | ' | |||
Under guidelines of Financial Accounting Standards Board (“FASB”) ASC 815, Derivative Instruments and Hedging Activities, as amended, all derivative instruments are required to be carried at fair value on the consolidated statement of financial position. ASC 815 provides special hedge accounting provisions, which permit the change in fair value of the hedge item related to the risk being hedged to be recognized in earnings in the same period and in the same income statement line as the change in the fair value of the derivative. | ||||
A derivative instrument designated in a hedge relationship to mitigate exposure to changes in the fair value of an asset, liability or firm commitment attributable to a particular risk, such as interest rate risk, are considered fair value hedges under ASC 815. Derivative instruments designated in a hedge relationship to mitigate exposure to variability in expected future cash flows, or other types of forecasted transactions, are considered cash flow hedges. Cash value hedges are accounted for by recording the fair value of the derivative instrument and the fair value related to the risk being hedged of the hedged asset or liability on the consolidated statement of financial position with corresponding offsets recorded in the consolidated statement of financial position. | ||||
The adjustment to the hedged asset or liability is included in the basis of the hedged item, while the fair value of the derivative is recorded as a freestanding asset or liability. Actual cash receipts or payments and related amounts accrued during the period on derivatives included in a fair value hedge relationship are recorded as adjustments to the income or expense recorded on the hedged asset or liability. | ||||
Under both the fair value and cash flow hedge methods, derivative gains and losses not effective in hedging the change in fair value or expected cash flows of the hedged item are recognized immediately in the income statement. At the hedge’s inception and at least quarterly thereafter, a formal assessment is performed to determine whether changes in the fair values or cash flows of the derivative instrument has been highly effective in offsetting changes in the fair values or cash flows of the hedged items and whether they are expected to be highly effective in the future. If it is determined a derivative instrument has not been, or will not continue to be highly effective as a hedge, hedged accounting is discontinued. ASC 815 basis adjustments recorded on hedged assets and liabilities are amortized over the remaining life of the hedged item beginning no later than when hedge accounting ceases. There were no fair value hedging gains or losses, as a result of hedge ineffectiveness, recognized for the nine month period ended September 30, 2013, or the year ended December 31, 2012. | ||||
Comprehensive Income | ' | |||
ASU 2013-02, “Comprehensive Income (Topic 220) – Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income.” ASU 2013-02 amends recent guidance related to the reporting of comprehensive income to enhance the reporting of reclassifications out of accumulated other comprehensive income. ASU 2013-02 became effective for the Company on January 1, 2013, and did not have a significant impact on the Company’s financial statements. | ||||
Intangibles - Goodwill and Other | ' | |||
ASU 2012-02, “Intangibles – Goodwill and Other (Topic 350) - Testing Indefinite-Lived Intangible Assets for Impairment.” ASU 2012-02 give entities the option to first assess qualitative factors to determine whether the existence of events or circumstances leads to a determination that it is more likely than not that an indefinite-lived intangible asset is impaired. If, after assessing the totality of events or circumstances, an entity determines it is more likely than not that an indefinite-lived intangible asset is impaired, then the entity must perform the quantitative impairment test. If, under the quantitative impairment test, the carrying amount of the intangible asset exceeds its fair value, an entity should recognize an impairment loss in the amount of that excess. | ||||
Permitting an entity to assess qualitative factors when testing indefinite-lived intangible assets for impairment results in guidance that is similar to the goodwill impairment testing guidance in ASU 2011-08. ASU 2012-02 is effective for the Company’s beginning January 1, 2013 (early adoption permitted) and did not have a significant impact on the Company’s financial statements. | ||||
Business Combinations | ' | |||
ASU 2012-06, “Business Combinations (Topic 805) – Subsequent Accounting for an Indemnification Asset Recognized at the Acquisition Date as a Result of a Government-Assisted Acquisition of a Financial Institution (a consensus of the FASB Emerging Issues Task Force).” ASU 2012-06 clarifies the applicable guidance for subsequently measuring an indemnification asset recognized as a result of a government-assisted acquisition of a financial institution. | ||||
Under ASU 2012-06, when a reporting entity recognizes an indemnification asset as a result of a government-assisted acquisition of a financial institution and, subsequently, a change in the cash flows expected to be collected on the indemnification asset occurs (as a result of a change in cash flows expected to be collected on the assets subject to indemnification), the reporting entity should subsequently account for the change in the measurement of the indemnification asset on the same basis as the change in the assets subject to indemnification. Any amortization of changes in value should be limited to the contractual term of the indemnification agreement (that is, the lesser of the term of the indemnification agreement and the remaining life of the indemnified assets). ASU 2012-06 became effective for the Company on January 1, 2013 and did not have a significant impact on the Corporation’s financial statements. | ||||
Troubled Debt Restructuring | ' | |||
On a periodic basis, the Bank may modify the terms of certain loans. In evaluating whether a restructuring constitutes a troubled debt restructuring (TDR), Financial Accounting Standards Board has issued Accounting Standards Update 310 (ASU 310), A Creditor’s Determination of Whether a Restructuring is a Troubled Debt Restructuring. In evaluating whether a restructuring constitutes a TDR, the Bank must separately conclude that both of the following exist: | ||||
• | The restructuring constitutes a concession | |||
• | The debtor is experiencing financial difficulties | |||
ASU 310 provides the following guidance for the Bank’s evaluation of whether it has granted a concession as follows: | ||||
• | If a debtor does not otherwise have access to funds at a market interest rate for debt with similar risk characteristics as the restructured debt, the restructured debt would be considered a below market rate, which may indicate that the Bank may have granted a concession. In that circumstance, the Bank should consider all aspects of the restructuring in determining whether it has granted a concession, the creditor must make a separate assessment about whether the debtor is experiencing financial difficulties to determine whether the restructuring constitutes a TDR. | |||
• | A temporary or permanent increase in the interest rate on a loan as a result of a restructuring does not eliminate the possibility of the restructuring from being considered a concession if the new interest rate on the loan is below the market interest rate for loans of similar risk characteristics. | |||
• | A restructuring that results in a delay in payment that is insignificant is not a concession. However, the Bank must consider a variety of factors in assessing whether a restructuring resulting in a delay in payment is insignificant. | |||
Fair Value Measurements | ' | |||
ASC 820-10, Fair Value Measurements defines fair value, establishes a framework for measuring fair value and expands disclosure about fair value. The statement establishes a fair value hierarchy which requires an entity to maximize the use of observable input and minimize the use of unobservable inputs when measuring fair value. The standard describes three levels of inputs that may be used to measure fair value. | ||||
• | Level 1 is for assets and liabilities that management has obtained quoted prices (unadjusted for transaction cost) or identical assets or liabilities in active markets that the Company has the ability to access as of the measurement date. | |||
• | Level 2 is for assets and liabilities in which significant unobservable inputs other than Level 1 prices such as quoted prices for similar assets and liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. | |||
• | Level 3 is for assets and liabilities in which significant unobservable inputs that reflect a reporting entity’s own assumptions about the assumptions that market participants would use in pricing an asset or liability. | |||
The fair values of securities available for sale is primarily determined by a matrix pricing, which is a mathematical technique that is widely used in the industry to value debt securities without exclusively using quoted prices for the individual securities in the Company’s portfolio but rather by relying on the securities relationship to other benchmark quoted securities. Impaired loans are valued at the net present value of expected payments using the fair value of any assigned collateral. The values for bank owned life insurance are obtained from stated values from the respective insurance companies. The liability associated with the Company’s derivative is obtained from a quoted value supplied by our correspondent banker. The value of real estate owned is obtained from appraisals completed on properties at the time of acquisition and annually thereafter. | ||||
Financial Services Investment Companies | ' | |||
ASU 2013-08, “Financial Services – Investment Companies (Topic 946) – Amendments to the Scope, Measurement and Disclosure Requirements.” ASU 2013-08 clarifies the characteristics of investment companies and sets forth a new approach for determining whether a company is an investment company. The fundamental characteristics of an investment company include (i) the company obtains funds from investors and provides the investors with investment management services; (ii) the company commits to its investors that its business purpose and only substantive activities are investing the funds for returns solely from capital appreciation, investment income, or both; and (iii) the company or its affiliates do not obtain or have the objective of obtaining returns or benefits from an investee or its affiliates that are not normally attributable to ownership interests or that are other than capital appreciation or investment income. ASU 2013-08 also sets forth the scope, measurement and disclosure requirements for investment companies. ASU 2013-08 is effective for the Company on January 1, 2014 and is not expected to have a significant impact on the Company’s financial statements. | ||||
Derivative and Hedging Activities | ' | |||
ASU 2013-10, “Derivatives and Hedging (Topic 815) – Inclusion of the Fed Funds Effective Swap Rate (or Overnight Index Swap Rate) as a Benchmark Interest Rate for Hedge Accounting Purposes.” ASU 2013-10 permits the Fed Funds Effective Swap Rate (or Overnight Index Swap Rate) to be used as a U.S. benchmark interest rate for hedge accounting purposes under Topic 815, in addition to interest rates on direct Treasury obligations of the U.S. government and the London Interbank Offered Rate (“LIBOR”). ASU 2013-10 is effective prospectively for qualifying new or re-designated hedging relationships entered into on or after July 17, 2013, and did not have a material impact on the Corporation’s financial statements. |
Income_Per_Share_Tables
Income Per Share (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Earnings Per Share [Abstract] | ' | ||||||||
Reconciliation of Basic and Diluted Income (Loss) Per Share | ' | ||||||||
The following schedule reconciles the numerators and denominators of the basic and diluted income per share (“IPS”) computations for the three and nine month periods ended September 30, 2013, and September 30, 2012. Diluted common shares arise from the potentially dilutive effect of the Company’s stock options and warrant outstanding. | |||||||||
Three Month Periods Ended | |||||||||
September 30, | |||||||||
2013 | 2012 | ||||||||
Basic IPS: | |||||||||
Net income available to common stockholders | $ | 536,000 | $ | 819,000 | |||||
Average common shares outstanding | 7,483,582 | 7,487,283 | |||||||
Net income per share available to common shareholders, basic | $ | 0.07 | $ | 0.11 | |||||
Diluted IPS | |||||||||
Net income available to common stockholders | $ | 536,000 | $ | 819,000 | |||||
Average common shares outstanding | 7,483,582 | 7,487,283 | |||||||
Dilutive effect of stock options | — | — | |||||||
Average diluted shares outstanding | 7,483,582 | 7,487,283 | |||||||
Net income per share available to common shareholders, diluted | $ | 0.07 | $ | 0.11 | |||||
Nine Month Periods Ended | |||||||||
September 30, | |||||||||
2013 | 2012 | ||||||||
Basic IPS: | |||||||||
Net income available to common stockholders | $ | 2,686,000 | $ | 2,192,000 | |||||
Average common shares outstanding | 7,483,606 | 7,485,571 | |||||||
Net income per share available to common shareholders, basic | $ | 0.36 | $ | 0.29 | |||||
Diluted IPS | |||||||||
Net income available to common stockholders | $ | 2,686,000 | $ | 2,192,000 | |||||
Average common shares outstanding | 7,483,606 | 7,485,571 | |||||||
Dilutive effect of stock options | — | — | |||||||
Average diluted shares outstanding | 7,483,606 | 7,485,571 | |||||||
Net income per share available to common shareholders, diluted | $ | 0.36 | $ | 0.29 | |||||
Stock_Compensation_Tables
Stock Compensation (Tables) | 9 Months Ended | ||||
Sep. 30, 2013 | |||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ||||
Company's Future Compensation Expense Related to Restricted Stock Vesting | ' | ||||
The table below provides a detail of the Company’s future compensation expense related to restricted stock vesting at September 30, 2013: | |||||
Year Ended | Future | ||||
December 31, | Expense | ||||
2013 | $ | 34,256 | |||
2014 | 124,192 | ||||
2015 | 101,773 | ||||
2016 | 48,272 | ||||
2017 | 3,125 | ||||
Total | $ | 311,618 | |||
Securities_Tables
Securities (Tables) | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Investments Debt And Equity Securities [Abstract] | ' | ||||||||||||||||||||||||
Amortized Cost of Securities and their Estimated Fair Values | ' | ||||||||||||||||||||||||
At September 30, 2013, the Company has 88 securities with unrealized losses. The carrying amount of securities and their estimated fair values at September 30, 2013, were as follows: | |||||||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||||||
Gross | Gross | Estimated | |||||||||||||||||||||||
Amortized | Unrealized | Unrealized | Fair | ||||||||||||||||||||||
Cost | Gains | Losses | Value | ||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||
Restricted: | |||||||||||||||||||||||||
FHLB stock | $ | 4,428 | — | — | 4,428 | ||||||||||||||||||||
Unrestricted: | |||||||||||||||||||||||||
U.S. government and agency securities: | |||||||||||||||||||||||||
Agency debt securities | $ | 120,813 | 2,284 | (2,050 | ) | 121,047 | |||||||||||||||||||
Corporate bonds | 2,000 | — | (8 | ) | 1,992 | ||||||||||||||||||||
Taxable municipal bonds | 17,813 | 317 | (456 | ) | 17,674 | ||||||||||||||||||||
Tax free municipal bonds | 66,281 | 2,418 | (811 | ) | 67,888 | ||||||||||||||||||||
Trust preferred securities | 1,600 | — | (111 | ) | 1,489 | ||||||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||||||
GNMA | 18,086 | 725 | (105 | ) | 18,706 | ||||||||||||||||||||
FNMA | 67,913 | 675 | (1,565 | ) | 67,023 | ||||||||||||||||||||
FHLMC | 1,418 | 17 | — | 1,435 | |||||||||||||||||||||
NON-AGENCY CMOs | 13,807 | 36 | (387 | ) | 13,456 | ||||||||||||||||||||
AGENCY CMOs | 12,052 | 189 | (175 | ) | 12,066 | ||||||||||||||||||||
$ | 321,783 | 6,661 | (5,668 | ) | 322,776 | ||||||||||||||||||||
The carrying amount of securities and their estimated fair values at December 31, 2012, was as follows: | |||||||||||||||||||||||||
December 31, 2012 | |||||||||||||||||||||||||
Amortized | Gross | Gross | Estimated | ||||||||||||||||||||||
Cost | Unrealized | Unrealized | Fair | ||||||||||||||||||||||
Gains | Losses | Value | |||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||
Restricted: | |||||||||||||||||||||||||
FHLB stock | $ | 4,428 | — | — | 4,428 | ||||||||||||||||||||
Unrestricted: | |||||||||||||||||||||||||
U.S. government and agency securities: | |||||||||||||||||||||||||
Agency debt securities | $ | 147,659 | 5,202 | (83 | ) | 152,778 | |||||||||||||||||||
Taxable municipal bonds | 12,535 | 1,209 | (8 | ) | 13,736 | ||||||||||||||||||||
Tax free municipal bonds | 68,331 | 5,756 | (40 | ) | 74,047 | ||||||||||||||||||||
Trust preferred securities | 2,000 | — | (511 | ) | 1,489 | ||||||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||||||
GNMA | 19,172 | 1,244 | (19 | ) | 20,397 | ||||||||||||||||||||
FNMA | 64,805 | 2,558 | (58 | ) | 67,305 | ||||||||||||||||||||
FHLMC | 4,519 | 153 | — | 4,672 | |||||||||||||||||||||
SLMA CMO | 5,412 | 80 | — | 5,492 | |||||||||||||||||||||
AGENCY CMOs | 16,055 | 426 | (52 | ) | 16,429 | ||||||||||||||||||||
$ | 340,488 | 16,628 | (771 | ) | 356,345 | ||||||||||||||||||||
Maturities of Debt Securities Available for Sale | ' | ||||||||||||||||||||||||
The scheduled maturities of debt securities available for sale at September 30, 2013, were as follows: | |||||||||||||||||||||||||
Amortized | Estimated | ||||||||||||||||||||||||
Cost | Fair | ||||||||||||||||||||||||
Value | |||||||||||||||||||||||||
Due within one year | $ | 305 | $ | 308 | |||||||||||||||||||||
Due in one to five years | 14,276 | 14,485 | |||||||||||||||||||||||
Due in five to ten years | 36,507 | 36,032 | |||||||||||||||||||||||
Due after ten years | 50,984 | 51,618 | |||||||||||||||||||||||
102,072 | 102,443 | ||||||||||||||||||||||||
Amortizing agency bonds | 106,435 | 107,646 | |||||||||||||||||||||||
Mortgage-backed securities | 113,276 | 112,687 | |||||||||||||||||||||||
Total unrestricted securities available for sale | $ | 321,783 | $ | 322,776 | |||||||||||||||||||||
The scheduled maturities of debt securities available for sale at December 31, 2012, were as follows: | |||||||||||||||||||||||||
Amortized | Estimated | ||||||||||||||||||||||||
Cost | Fair | ||||||||||||||||||||||||
Value | |||||||||||||||||||||||||
Due within one year | $ | 345 | $ | 346 | |||||||||||||||||||||
Due in one to five years | 11,499 | 11,682 | |||||||||||||||||||||||
Due in five to ten years | 30,007 | 32,316 | |||||||||||||||||||||||
Due in more than ten years | 53,222 | 57,290 | |||||||||||||||||||||||
95,073 | 101,634 | ||||||||||||||||||||||||
Amortizing agency bonds | 135,452 | 140,416 | |||||||||||||||||||||||
Mortgage-backed securities | 109,963 | 114,295 | |||||||||||||||||||||||
Total unrestricted securities available for sale | $ | 340,488 | $ | 356,345 | |||||||||||||||||||||
Estimated Fair Value and Unrealized Loss Amounts of Impaired Investments | ' | ||||||||||||||||||||||||
The estimated fair value and unrealized loss amounts of impaired investments as of September 30, 2013, are as follows: | |||||||||||||||||||||||||
Less than 12 months | 12 months or longer | Total | |||||||||||||||||||||||
Estimated | Unrealized | Estimated | Unrealized | Estimated | Unrealized | ||||||||||||||||||||
Fair Value | Losses | Fair Value | Losses | Fair Value | Losses | ||||||||||||||||||||
Available for sale | |||||||||||||||||||||||||
U.S. government and agency securities: | |||||||||||||||||||||||||
Agency debt securities | $ | 36,537 | (2,034 | ) | 1,283 | (16 | ) | 37,820 | (2,050 | ) | |||||||||||||||
Corporate bonds | 1,992 | (8 | ) | — | — | 1,992 | (8 | ) | |||||||||||||||||
Taxable municipals | 6,629 | (421 | ) | 882 | (35 | ) | 7,511 | (456 | ) | ||||||||||||||||
Tax free municipals | 13,915 | (811 | ) | — | — | 13,915 | (811 | ) | |||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||||||
GNMA | 4,330 | (105 | ) | — | — | 4,330 | (105 | ) | |||||||||||||||||
FNMA | 44,187 | (1,565 | ) | — | — | 44,187 | (1,565 | ) | |||||||||||||||||
FHLMC | — | — | — | — | — | — | |||||||||||||||||||
NON-AGENCY CMOs | 5,309 | (387 | ) | — | — | 5,309 | (387 | ) | |||||||||||||||||
AGENCY CMOs | 4,468 | (175 | ) | — | — | 4,468 | (175 | ) | |||||||||||||||||
Total temporarily impaired available for sale securities | $ | 117,367 | (5,506 | ) | 2,165 | (51 | ) | 119,532 | (5,557 | ) | |||||||||||||||
Other-than-temporarily impaired debt securities: (1) | |||||||||||||||||||||||||
Trust preferred securities | — | — | 1,489 | (111 | ) | 1,489 | (111 | ) | |||||||||||||||||
Total temporarily impaired and other-than-temporarily impaired securities | $ | 117,367 | ($ | 5,506 | ) | 3,654 | (162 | ) | 121,021 | (5,668 | ) | ||||||||||||||
(1) | Includes an other-than-temporary impaired available for sale debt securities in which a portion of the other-than-temporary impairment loss remains in accumulated other comprehensive loss. | ||||||||||||||||||||||||
The estimated fair value and unrealized loss amounts of impaired investments as of December 31, 2012, were as follows: | |||||||||||||||||||||||||
Less than 12 months | 12 months or longer | Total | |||||||||||||||||||||||
Estimated | Unrealized | Estimated | Unrealized | Estimated | Unrealized | ||||||||||||||||||||
Fair Value | Losses | Fair Value | Losses | Fair Value | Losses | ||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||
Available for sale | |||||||||||||||||||||||||
U.S. government and agency securities: | |||||||||||||||||||||||||
Agency debt securities | $ | 12,317 | (83 | ) | — | — | 12,317 | (83 | ) | ||||||||||||||||
Taxable municipal bonds | 885 | (8 | ) | — | — | 885 | (8 | ) | |||||||||||||||||
Tax free municipal bonds | 5,315 | (40 | ) | — | — | 5,315 | (40 | ) | |||||||||||||||||
Trust preferred securities | — | — | 1,489 | (511 | ) | 1,489 | (511 | ) | |||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||||||
GNMA | — | — | 1,415 | (19 | ) | 1,415 | (19 | ) | |||||||||||||||||
FNMA | 7,077 | (58 | ) | — | — | 7,077 | (58 | ) | |||||||||||||||||
FHLMC | — | — | — | — | — | — | |||||||||||||||||||
NON-AGENCY CMOs | — | — | — | — | — | — | |||||||||||||||||||
AGENCY CMOs | 3,691 | (52 | ) | — | — | 3,691 | (52 | ) | |||||||||||||||||
Total Available for Sale | $ | 29,285 | (241 | ) | 2,904 | (530 | ) | 32,189 | (771 | ) | |||||||||||||||
Summary Other Than Temporary Impairment Losses on Securities | ' | ||||||||||||||||||||||||
The following table summarizes other-than-temporary impairment losses on securities for the nine month period ended September 30, 2013: | |||||||||||||||||||||||||
Trust Preferred | |||||||||||||||||||||||||
Securities | Total | ||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||
Total other-than-temporary impairment losses | $ | 511 | $ | 511 | |||||||||||||||||||||
Less: unrealized other-than-temporary losses recognized in accumulated other comprehensive loss (1) | 111 | 111 | |||||||||||||||||||||||
Net impairment losses recognized in earnings (2) | $ | 400 | $ | 400 | |||||||||||||||||||||
-1 | Represents the non-credit component of the other-than-temporary impairment | ||||||||||||||||||||||||
-2 | Represents the credit component of the other-than-temporary impairment | ||||||||||||||||||||||||
Activity Related to Credit Component Recognized in Earnings on Debt Securities Held by Entity | ' | ||||||||||||||||||||||||
Activity related to the credit component recognized in earnings on debt securities held by the Company for which a portion of other-than-temporary impairment was recognized in accumulated other comprehensive loss for the nine month period ended September 30, 2013 and 2012, respectively, is as follows: | |||||||||||||||||||||||||
Nine month period ended | |||||||||||||||||||||||||
30-Sep-13 | |||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||
Balance, December 31, 2012 | $ | — | |||||||||||||||||||||||
Credit losses on securities for which other-than-temporary impairment was not previously recorded: | 400 | ||||||||||||||||||||||||
Additional credit losses on securities for which an other-than temporary impairment charge was previously recorded | — | ||||||||||||||||||||||||
Reductions for securities sold during the period | — | ||||||||||||||||||||||||
Balance, September 30, 2013 | $ | 400 | |||||||||||||||||||||||
Loans_Tables
Loans (Tables) | 9 Months Ended | ||||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||||
Receivables [Abstract] | ' | ||||||||||||||||||||||||||||
Composition of Loan Portfolio by Type of Loan | ' | ||||||||||||||||||||||||||||
At September 30, 2013 and December 31, 2012, there were no concentrations of loans exceeding 10% of total loans other than as disclosed below: | |||||||||||||||||||||||||||||
September 30, 2013 | September 30, 2013 | December 31, 2012 | December 31, 2012 | ||||||||||||||||||||||||||
Amount | Percent | Amount | Percent | ||||||||||||||||||||||||||
(Dollars in thousands, except percentages) | |||||||||||||||||||||||||||||
Real estate loans: | |||||||||||||||||||||||||||||
One-to-four family (closed end) first mortgages | $ | 157,857 | 29.2 | % | $ | 162,335 | 30.3 | % | |||||||||||||||||||||
Second mortgages (closed end) | 3,576 | 0.7 | % | 4,336 | 0.8 | % | |||||||||||||||||||||||
Home equity lines of credit | 35,072 | 6.5 | % | 37,083 | 6.9 | % | |||||||||||||||||||||||
Multi-family | 28,433 | 5.2 | % | 33,056 | 6.2 | % | |||||||||||||||||||||||
Construction | 9,358 | 1.7 | % | 18,900 | 3.5 | % | |||||||||||||||||||||||
Land | 37,647 | 6.9 | % | 45,906 | 8.6 | % | |||||||||||||||||||||||
Farmland | 50,908 | 9.4 | % | 46,799 | 8.7 | % | |||||||||||||||||||||||
Non-residential real estate | 151,495 | 28 | % | 122,637 | 22.9 | % | |||||||||||||||||||||||
Total mortgage loans | 474,346 | 87.6 | % | 471,052 | 87.9 | % | |||||||||||||||||||||||
Consumer loans | 12,379 | 2.3 | % | 13,886 | 2.6 | % | |||||||||||||||||||||||
Commercial loans | 54,735 | 10.1 | % | 50,549 | 9.5 | % | |||||||||||||||||||||||
Total other loans | 67,114 | 12.4 | % | 64,435 | 12.1 | % | |||||||||||||||||||||||
Total loans, gross | 541,460 | 100 | % | 535,487 | 100 | % | |||||||||||||||||||||||
Deferred loan costs (fees), net of income | (29 | ) | 146 | ||||||||||||||||||||||||||
Less allowance for loan losses | (9,418 | ) | (10,648 | ) | |||||||||||||||||||||||||
Total loans | $ | 532,013 | $ | 524,985 | |||||||||||||||||||||||||
Non-residential Real Estate Loan Portfolio | ' | ||||||||||||||||||||||||||||
At September 30, 2013, and December 31, 2012, the Company’s non-residential real estate loan portfolio was made up of the following loan types: | |||||||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
Land | $ | 37,647 | 45,906 | ||||||||||||||||||||||||||
Manufacturing | 4,102 | 3,856 | |||||||||||||||||||||||||||
Professional, Technical | 1,884 | 2,025 | |||||||||||||||||||||||||||
Retail Trade | 11,768 | 12,391 | |||||||||||||||||||||||||||
Other Services | 19,419 | 18,303 | |||||||||||||||||||||||||||
Finance & Insurance | 1,886 | 386 | |||||||||||||||||||||||||||
Agricultural, Forestry, Fishing & Hunting | 47,421 | 42,420 | |||||||||||||||||||||||||||
Real Estate and Rental and Leasing | 53,221 | 48,249 | |||||||||||||||||||||||||||
Wholesale Trade | 21,745 | 8,891 | |||||||||||||||||||||||||||
Arts, Entertainment & Recreation | 3,127 | 3,461 | |||||||||||||||||||||||||||
Accommodations / Food Service | 26,002 | 17,152 | |||||||||||||||||||||||||||
Healthcare and Social Assistance | 6,972 | 7,932 | |||||||||||||||||||||||||||
Transportation & Warehousing | 1,152 | 1,295 | |||||||||||||||||||||||||||
Information | 2,469 | 2,488 | |||||||||||||||||||||||||||
Non-industry | 863 | 46 | |||||||||||||||||||||||||||
Admin Support / Waste Mgmt | 372 | 541 | |||||||||||||||||||||||||||
Total | $ | 240,050 | 215,342 | ||||||||||||||||||||||||||
Non-accrual Loans | ' | ||||||||||||||||||||||||||||
The following table indicates the type and level of non-accrual loans at the dates indicated below: | |||||||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | September 30, 2012 | |||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
One-to-four family mortgages | $ | 865 | 2,243 | 2,795 | |||||||||||||||||||||||||
Home equity line of credit | 275 | 66 | 24 | ||||||||||||||||||||||||||
Junior lien | 2 | 4 | — | ||||||||||||||||||||||||||
Multi-family | — | 38 | 190 | ||||||||||||||||||||||||||
Construction | — | — | — | ||||||||||||||||||||||||||
Land | 2,257 | 2,768 | 3,279 | ||||||||||||||||||||||||||
Non-residential real estate | 7,187 | 1,134 | 1,268 | ||||||||||||||||||||||||||
Farmland | 744 | 648 | 49 | ||||||||||||||||||||||||||
Consumer loans | 316 | 145 | 59 | ||||||||||||||||||||||||||
Commercial loans | 482 | 617 | 2,160 | ||||||||||||||||||||||||||
Total non-accrual loans | $ | 12,128 | 7,663 | 9,824 | |||||||||||||||||||||||||
Allowance for Loan Loss Account by Loan | ' | ||||||||||||||||||||||||||||
The following table provides a detail of the Company’s activity in the allowance for loan loss account by loan type for the nine month period ended September 30, 2013: | |||||||||||||||||||||||||||||
Balance | Charge off | Recovery | General | Specific | Ending | ||||||||||||||||||||||||
12/31/12 | 2013 | 2013 | Provision | Provision | Balance | ||||||||||||||||||||||||
2013 | 2013 | 9/30/13 | |||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
One-to-four family mortgages | $ | 2,490 | (432 | ) | 47 | (350 | ) | 386 | 2,141 | ||||||||||||||||||||
Home equity line of credit | 374 | (21 | ) | 9 | (80 | ) | 2 | 284 | |||||||||||||||||||||
Junior liens | 230 | (119 | ) | 27 | 43 | (79 | ) | 102 | |||||||||||||||||||||
Multi-family | 524 | (38 | ) | 164 | (136 | ) | (164 | ) | 350 | ||||||||||||||||||||
Construction | 256 | — | — | (187 | ) | — | 69 | ||||||||||||||||||||||
Land | 2,184 | (393 | ) | 7 | (954 | ) | 282 | 1,126 | |||||||||||||||||||||
Non-residential real estate | 2,914 | (1,040 | ) | 14 | 431 | 1,359 | 3,678 | ||||||||||||||||||||||
Farmland | 719 | — | — | (96 | ) | (184 | ) | 439 | |||||||||||||||||||||
Consumer loans | 338 | (535 | ) | 146 | 242 | 387 | 578 | ||||||||||||||||||||||
Commercial loans | 619 | (280 | ) | 6 | 296 | 10 | 651 | ||||||||||||||||||||||
Total | $ | 10,648 | (2,858 | ) | 420 | (791 | ) | 1,999 | 9,418 | ||||||||||||||||||||
The following table provides a detail of the Company’s activity in the allowance for loan loss account by loan type for the year ended December 31, 2012: | |||||||||||||||||||||||||||||
Balance | Charge off | Recovery | General | Specific | Balance | ||||||||||||||||||||||||
12/31/11 | 2012 | 2012 | Provision | Provision | 12/31/12 | ||||||||||||||||||||||||
2012 | 2012 | ||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
One-to-four family mortgages | $ | 2,640 | (379 | ) | 81 | 324 | (176 | ) | 2,490 | ||||||||||||||||||||
Home equity line of credit | 408 | (67 | ) | 6 | 6 | 21 | 374 | ||||||||||||||||||||||
Junior liens | 277 | (1 | ) | 4 | — | (50 | ) | 230 | |||||||||||||||||||||
Multi-family | 1,201 | (417 | ) | — | 429 | (689 | ) | 524 | |||||||||||||||||||||
Construction | 139 | — | — | 117 | — | 256 | |||||||||||||||||||||||
Land | 1,332 | (1,033 | ) | 405 | 635 | 845 | 2,184 | ||||||||||||||||||||||
Non-residential real estate | 3,671 | (1,120 | ) | 137 | 718 | (492 | ) | 2,914 | |||||||||||||||||||||
Farmland | — | — | — | 315 | 404 | 719 | |||||||||||||||||||||||
Consumer loans | 262 | (510 | ) | 150 | 404 | 32 | 338 | ||||||||||||||||||||||
Commercial loans | 1,332 | (157 | ) | 12 | (171 | ) | (397 | ) | 619 | ||||||||||||||||||||
Total | $ | 11,262 | (3,684 | ) | 795 | 2,777 | (502 | ) | 10,648 | ||||||||||||||||||||
Past Due and Non-accrual Balances by Loan Classification | ' | ||||||||||||||||||||||||||||
The table below presents currently performing, past due and non-accrual balances at September 30, 2013, by loan classification allocated between performing and non-performing: | |||||||||||||||||||||||||||||
Currently | 30 - 89 | Non-accrual | Special | Impaired Loans | |||||||||||||||||||||||||
Days | Currently Performing | ||||||||||||||||||||||||||||
September 30, 2013 | Performing | Past Due | Loans | Mention | Substandard | Doubtful | Total | ||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
One-to-four family mortgages | $ | 148,481 | 1,682 | 865 | 1,423 | 5,406 | — | 157,857 | |||||||||||||||||||||
Home equity line of credit | 33,672 | 248 | 275 | — | 877 | — | 35,072 | ||||||||||||||||||||||
Junior liens | 3,128 | 33 | 2 | 44 | 369 | — | 3,576 | ||||||||||||||||||||||
Multi-family | 28,433 | — | — | — | — | — | 28,433 | ||||||||||||||||||||||
Construction | 9,007 | 175 | — | 176 | — | — | 9,358 | ||||||||||||||||||||||
Land | 17,259 | 133 | 2,257 | 1,789 | 16,209 | — | 37,647 | ||||||||||||||||||||||
Non-residential real estate | 127,731 | 90 | 7,187 | 2,183 | 14,304 | — | 151,495 | ||||||||||||||||||||||
Farmland | 44,428 | 103 | 744 | 807 | 4,826 | — | 50,908 | ||||||||||||||||||||||
Consumer loans | 11,376 | 151 | 316 | — | 536 | — | 12,379 | ||||||||||||||||||||||
Commercial loans | 51,324 | 91 | 482 | 96 | 2,742 | — | 54,735 | ||||||||||||||||||||||
Total | $ | 474,839 | 2,706 | 12,128 | 6,518 | 45,269 | — | 541,460 | |||||||||||||||||||||
The table below presents currently performing, past due and non-accrual balances at December 31, 2012, by loan classification allocated between performing and non-performing: | |||||||||||||||||||||||||||||
Currently | 30 - 89 | Non-accrual | Special | Impaired Loans | |||||||||||||||||||||||||
Days | Currently Performing | ||||||||||||||||||||||||||||
December 31, 2012 | Performing | Past Due | Loans | Mention | Substandard | Doubtful | Total | ||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
One-to-four family mortgages | $ | 155,936 | 1,339 | 2,243 | 779 | 2,038 | — | 162,335 | |||||||||||||||||||||
Home equity line of credit | 34,732 | 5 | 66 | 1,109 | 1,171 | — | 37,083 | ||||||||||||||||||||||
Junior liens | 3,584 | 237 | 4 | 47 | 464 | — | 4,336 | ||||||||||||||||||||||
Multi-family | 27,463 | — | 38 | 1,478 | 4,077 | — | 33,056 | ||||||||||||||||||||||
Construction | 13,876 | 176 | — | — | 4,848 | — | 18,900 | ||||||||||||||||||||||
Land | 14,237 | 137 | 2,768 | 7,683 | 21,081 | — | 45,906 | ||||||||||||||||||||||
Non-residential real estate | 101,894 | 293 | 1,134 | 1,230 | 18,647 | — | 123,198 | ||||||||||||||||||||||
Farmland | 44,256 | — | 648 | 669 | 665 | — | 46,238 | ||||||||||||||||||||||
Consumer loans | 13,266 | 74 | 145 | — | 401 | — | 13,886 | ||||||||||||||||||||||
Commercial loans | 43,961 | 230 | 617 | 516 | 5,225 | — | 50,549 | ||||||||||||||||||||||
Total | $ | 453,205 | 2,491 | 7,663 | 13,511 | 58,617 | — | 535,487 | |||||||||||||||||||||
Bank's Allowance for Loan Losses | ' | ||||||||||||||||||||||||||||
The table on the below sets forth an analysis of the Bank’s allowance for loan losses for the periods presented: | |||||||||||||||||||||||||||||
Nine month period ended | Year ended | Nine month period ended | |||||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | September 30, 2012 | |||||||||||||||||||||||||||
(Dollars in Thousands, Except Percentages) | |||||||||||||||||||||||||||||
Beginning balance, allowance for loan loss | $ | 10,648 | 11,262 | 11,262 | |||||||||||||||||||||||||
Charge offs | |||||||||||||||||||||||||||||
One-to-four family mortgages | (432 | ) | (379 | ) | (282 | ) | |||||||||||||||||||||||
Home equity line of credit | (21 | ) | (67 | ) | (65 | ) | |||||||||||||||||||||||
Junior liens | (119 | ) | (1 | ) | (1 | ) | |||||||||||||||||||||||
Multi-family | (38 | ) | (417 | ) | (416 | ) | |||||||||||||||||||||||
Construction | — | — | — | ||||||||||||||||||||||||||
Land | (393 | ) | (1,033 | ) | (1,033 | ) | |||||||||||||||||||||||
Non-residential real estate | (1,040 | ) | (1,120 | ) | (799 | ) | |||||||||||||||||||||||
Consumer loans | (535 | ) | (510 | ) | (284 | ) | |||||||||||||||||||||||
Commercial loans | (280 | ) | (157 | ) | (206 | ) | |||||||||||||||||||||||
Total charge offs | (2,858 | ) | (3,684 | ) | (3,086 | ) | |||||||||||||||||||||||
Recoveries | |||||||||||||||||||||||||||||
One-to-four family mortgages | 47 | 81 | 77 | ||||||||||||||||||||||||||
Home equity line of credit | 9 | 6 | 5 | ||||||||||||||||||||||||||
Junior liens | 27 | 4 | 3 | ||||||||||||||||||||||||||
Multi-family | 164 | — | — | ||||||||||||||||||||||||||
Construction | — | — | — | ||||||||||||||||||||||||||
Land | 7 | 405 | 234 | ||||||||||||||||||||||||||
Non-residential real estate | 14 | 137 | 100 | ||||||||||||||||||||||||||
Consumer loans | 146 | 150 | 110 | ||||||||||||||||||||||||||
Commercial loans | 6 | 12 | 10 | ||||||||||||||||||||||||||
Total recoveries | 420 | 795 | 539 | ||||||||||||||||||||||||||
Net Charge offs | (2,438 | ) | (2,889 | ) | (2,547 | ) | |||||||||||||||||||||||
Provision for loan losses | 1,208 | 2,275 | 1,775 | ||||||||||||||||||||||||||
Ending balance | 9,418 | 10,648 | 10,490 | ||||||||||||||||||||||||||
Average loan balance, gross | $ | 537,233 | 533,081 | 556,332 | |||||||||||||||||||||||||
Ratio of net charge offs to average outstanding loans during the period | 0.61 | % | 0.52 | % | 0.61 | % | |||||||||||||||||||||||
Summary of Company's Impaired Loans | ' | ||||||||||||||||||||||||||||
A summary of the Company’s impaired loans, including their respective regulatory classification and their respective specific reserve at September 30, 2013, were as follows: | |||||||||||||||||||||||||||||
Special | Impaired Loans | Specific | Allowance | ||||||||||||||||||||||||||
Allowance | for | ||||||||||||||||||||||||||||
for | Performing | ||||||||||||||||||||||||||||
September 30, 2013 | Pass | Mention | Substandard | Doubtful | Total | Impairment | Loans | ||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
One-to-four family mortgages | $ | 151,028 | 1,423 | 5,406 | — | 157,857 | 755 | 1,386 | |||||||||||||||||||||
Home equity line of credit | 34,195 | — | 877 | — | 35,072 | 66 | 218 | ||||||||||||||||||||||
Junior liens | 3,163 | 44 | 369 | — | 3,576 | 17 | 85 | ||||||||||||||||||||||
Multi-family | 28,433 | — | — | — | 28,433 | — | 350 | ||||||||||||||||||||||
Construction | 9,182 | 176 | — | — | 9,358 | — | 69 | ||||||||||||||||||||||
Land | 19,649 | 1,789 | 16,209 | — | 37,647 | 828 | 298 | ||||||||||||||||||||||
Non-residential real estate | 135,008 | 2,183 | 14,304 | — | 151,495 | 1,573 | 2,105 | ||||||||||||||||||||||
Farmland | 45,275 | 807 | 4,826 | — | 50,908 | — | 439 | ||||||||||||||||||||||
Consumer loans | 11,839 | — | 540 | — | 12,379 | 119 | 459 | ||||||||||||||||||||||
Commercial loans | 51,893 | 96 | 2,746 | — | 54,735 | 44 | 607 | ||||||||||||||||||||||
Total | $ | 489,665 | 6,518 | 45,277 | — | 541,460 | 3,402 | 6,016 | |||||||||||||||||||||
A summary of the Company’s impaired loans and their respective reserve at December 31, 2012, were as follows: | |||||||||||||||||||||||||||||
Special | Impaired Loans | Specific | Allowance | ||||||||||||||||||||||||||
Allowance | for | ||||||||||||||||||||||||||||
for | Performing | ||||||||||||||||||||||||||||
Pass | Mention | Substandard | Doubtful | Total | Impairment | Loans | |||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
One-to-four family mortgages | $ | 156,961 | 779 | 4,595 | — | 162,335 | 754 | 1,736 | |||||||||||||||||||||
Home equity line of credit | 34,737 | 1,109 | 1,237 | — | 37,083 | 76 | 298 | ||||||||||||||||||||||
Junior liens | 3,821 | 47 | 468 | — | 4,336 | 188 | 42 | ||||||||||||||||||||||
Multi-family | 27,463 | 1,478 | 4,115 | — | 33,056 | 38 | 486 | ||||||||||||||||||||||
Construction | 14,052 | — | 4,848 | — | 18,900 | — | 256 | ||||||||||||||||||||||
Land | 14,374 | 7,683 | 23,849 | — | 45,906 | 932 | 1,252 | ||||||||||||||||||||||
Non-residential real estate | 107,947 | 669 | 14,021 | — | 122,637 | 1,240 | 1,681 | ||||||||||||||||||||||
Farmland | 38,496 | 1,230 | 7,073 | — | 46,799 | 184 | 528 | ||||||||||||||||||||||
Consumer loans | 13,330 | — | 556 | — | 13,886 | 121 | 217 | ||||||||||||||||||||||
Commercial loans | 44,191 | 516 | 5,842 | — | 50,549 | 308 | 311 | ||||||||||||||||||||||
Total | $ | 455,372 | 13,511 | 66,604 | — | 535,487 | 3,841 | 6,807 | |||||||||||||||||||||
Impaired Loans by Classification Type | ' | ||||||||||||||||||||||||||||
Impaired loans by classification type and the related valuation allowance amounts at September 30, 2013, were as follows: | |||||||||||||||||||||||||||||
For the nine month period ended | |||||||||||||||||||||||||||||
At September 30, 2013 | September 30, 2013 | ||||||||||||||||||||||||||||
Recorded | Unpaid | Related | Average | Interest | |||||||||||||||||||||||||
Investment | Principal | Allowance | Recorded | Income | |||||||||||||||||||||||||
Balance | Investment | Recognized | |||||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||
Impaired loans with no recorded reserve: | |||||||||||||||||||||||||||||
One-to-four family mortgages | $ | 2,310 | 2,310 | — | 2,087 | 4 | |||||||||||||||||||||||
Home equity line of credit | 602 | 602 | — | 539 | 3 | ||||||||||||||||||||||||
Junior liens | 2 | 2 | — | 239 | — | ||||||||||||||||||||||||
Multi-family | — | — | — | 1,321 | — | ||||||||||||||||||||||||
Construction | — | — | — | 1,371 | — | ||||||||||||||||||||||||
Land | 12,663 | 12,663 | — | 10,446 | 96 | ||||||||||||||||||||||||
Farmland | 4,826 | 4,826 | — | 4,669 | 115 | ||||||||||||||||||||||||
Non-residential real estate | 8,495 | 8,495 | — | 7,058 | 20 | ||||||||||||||||||||||||
Consumer loans | 64 | 64 | — | 44 | 7 | ||||||||||||||||||||||||
Commercial loans | 2,623 | 2,623 | — | 2,500 | 51 | ||||||||||||||||||||||||
Total | $ | 31,585 | 31,585 | — | 30,274 | 296 | |||||||||||||||||||||||
Recorded | Unpaid | Related | Average | Interest | |||||||||||||||||||||||||
Investment | Principal | Allowance | Recorded | Income | |||||||||||||||||||||||||
Balance | Investment | Recognized | |||||||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||||||||
Impaired loans with recorded reserve: | |||||||||||||||||||||||||||||
One-to-four family mortgages | $ | 3,096 | 3,220 | 755 | 2,701 | 26 | |||||||||||||||||||||||
Home equity line of credit | 275 | 275 | 66 | 372 | 1 | ||||||||||||||||||||||||
Junior liens | 367 | 367 | 17 | 151 | 1 | ||||||||||||||||||||||||
Multi-family | — | — | — | — | — | ||||||||||||||||||||||||
Construction | — | — | — | — | — | ||||||||||||||||||||||||
Land | 3,546 | 3,546 | 828 | 4,351 | 20 | ||||||||||||||||||||||||
Farmland | — | — | — | 151 | — | ||||||||||||||||||||||||
Non-residential real estate | 5,809 | 6,842 | 1,573 | 4,150 | 3 | ||||||||||||||||||||||||
Consumer loans | 476 | 476 | 119 | 373 | — | ||||||||||||||||||||||||
Commercial loans | 123 | 212 | 44 | 536 | 1 | ||||||||||||||||||||||||
Total | $ | 13,692 | 14,938 | 3,402 | 12,785 | 52 | |||||||||||||||||||||||
Total impaired loans | $ | 45,277 | 46,523 | 3,402 | 43,059 | 348 | |||||||||||||||||||||||
Impaired loans by classification type and the related valuation allowance amounts at December 31, 2012, were as follows: | |||||||||||||||||||||||||||||
At December 31, 2012 | |||||||||||||||||||||||||||||
Recorded | Unpaid | Related | Average | Interest | |||||||||||||||||||||||||
Investment | Principal | Allowance | Recorded | Income | |||||||||||||||||||||||||
Balance | Investment | Recognized | |||||||||||||||||||||||||||
Impaired loans with no recorded reserve: | |||||||||||||||||||||||||||||
One-to-four family mortgages | $ | 1,759 | 1,759 | — | 5,279 | 107 | |||||||||||||||||||||||
Home equity line of credit | 1,169 | 1,169 | — | 869 | 50 | ||||||||||||||||||||||||
Junior liens | — | — | — | 281 | 3 | ||||||||||||||||||||||||
Multi-family | 4,077 | 4,077 | — | 3,626 | 219 | ||||||||||||||||||||||||
Construction | 4,848 | 4,848 | — | 3,133 | 174 | ||||||||||||||||||||||||
Land | 20,279 | 20,279 | — | 19,857 | 504 | ||||||||||||||||||||||||
Farmland | 5,701 | 5,701 | — | 5,701 | 202 | ||||||||||||||||||||||||
Non-residential real estate | 9,662 | 9,662 | — | 14,235 | 653 | ||||||||||||||||||||||||
Consumer loans | 81 | 81 | — | 66 | 5 | ||||||||||||||||||||||||
Commercial loans | 1,617 | 1,617 | — | 2,701 | 165 | ||||||||||||||||||||||||
Total | $ | 49,193 | 49,193 | — | 55,748 | 2,082 | |||||||||||||||||||||||
Recorded | Unpaid | Related | Average | Interest | |||||||||||||||||||||||||
Investment | Principal | Allowance | Recorded | Income | |||||||||||||||||||||||||
Balance | Investment | Recognized | |||||||||||||||||||||||||||
Impaired loans with recorded reserve: | |||||||||||||||||||||||||||||
One-to-four family mortgages | 2,836 | 2,836 | 754 | 3,135 | 145 | ||||||||||||||||||||||||
Home equity line of credit | 68 | 68 | 76 | 162 | 3 | ||||||||||||||||||||||||
Junior liens | 468 | 468 | 188 | 365 | 38 | ||||||||||||||||||||||||
Multi-family | 38 | 38 | 38 | 2,640 | 4 | ||||||||||||||||||||||||
Construction | — | — | — | 1,095 | — | ||||||||||||||||||||||||
Land | 3,570 | 3,570 | 932 | 4,848 | 213 | ||||||||||||||||||||||||
Farmland | 1,372 | 1,372 | 184 | 1,372 | 92 | ||||||||||||||||||||||||
Non-residential real estate | 4,359 | 4,359 | 1,240 | 5,206 | 231 | ||||||||||||||||||||||||
Consumer loans | 475 | 475 | 121 | 223 | 1 | ||||||||||||||||||||||||
Commercial loans | 4,225 | 4,225 | 308 | 4,470 | 28 | ||||||||||||||||||||||||
Total | 17,411 | 17,411 | 3,841 | 23,516 | 755 | ||||||||||||||||||||||||
Total impaired loans | $ | 66,604 | 66,604 | 3,841 | 79,264 | 2,837 | |||||||||||||||||||||||
Company's Loans Classified as Troubled Debt Restructurings (TDR's) | ' | ||||||||||||||||||||||||||||
A summary of the Company’s loans classified as Troubled Debt Restructurings (TDR’s) that are reported as performing at September 30, 2013 and December 31, 2012, is below: | |||||||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
TDR by Loan Type: | |||||||||||||||||||||||||||||
One-to-four family mortgages | $ | — | 1,888 | ||||||||||||||||||||||||||
Home equity line of credit | — | — | |||||||||||||||||||||||||||
Junior lien | — | 196 | |||||||||||||||||||||||||||
Multi-family | — | 234 | |||||||||||||||||||||||||||
Construction | — | 4,112 | |||||||||||||||||||||||||||
Land | — | 3,424 | |||||||||||||||||||||||||||
Non-residential real estate | — | 3,173 | |||||||||||||||||||||||||||
Farmland | — | 909 | |||||||||||||||||||||||||||
Consumer loans | — | 5 | |||||||||||||||||||||||||||
Commercial loans | — | 128 | |||||||||||||||||||||||||||
Total TDR | — | 14,069 | |||||||||||||||||||||||||||
Less: | |||||||||||||||||||||||||||||
TDR in non-accrual status | |||||||||||||||||||||||||||||
One-to-four family mortgages | — | — | |||||||||||||||||||||||||||
Home equity line of credit | — | — | |||||||||||||||||||||||||||
Junior lien | — | (100 | ) | ||||||||||||||||||||||||||
Multi-family | — | — | |||||||||||||||||||||||||||
Construction | — | — | |||||||||||||||||||||||||||
Land | — | (2,768 | ) | ||||||||||||||||||||||||||
Non-residential real estate | — | (44 | ) | ||||||||||||||||||||||||||
Farmland | — | — | |||||||||||||||||||||||||||
Consumer loans | — | — | |||||||||||||||||||||||||||
Commercial loans | — | (119 | ) | ||||||||||||||||||||||||||
Total non-accrual TDR | — | (3,031 | ) | ||||||||||||||||||||||||||
Total performing TDR | $ | — | 11,038 | ||||||||||||||||||||||||||
Real_Estate_and_Other_Assets_O1
Real Estate and Other Assets Owned (Tables) | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Banking And Thrift [Abstract] | ' | ||||||||||||||||||||||||
Presentation of Balances in Other Real Estate and Assets Owned Consisting Other Non-Performing Loan | ' | ||||||||||||||||||||||||
At September 30, 2013, December 31, 2012, and September 30, 2012, the Company had balances in other real estate owned and non-accrual loans consisting of the following: | |||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | September 30, 2012 | |||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||
One-to-four family mortgages | $ | 252 | 258 | 147 | |||||||||||||||||||||
Multi-family | — | — | — | ||||||||||||||||||||||
Construction | — | 130 | 216 | ||||||||||||||||||||||
Land | 1,112 | 1,112 | 275 | ||||||||||||||||||||||
Non-residential real estate | 73 | 44 | 43 | ||||||||||||||||||||||
Consumer assets | 2 | 4 | — | ||||||||||||||||||||||
Total other real estate owned | 1,439 | 1,548 | 681 | ||||||||||||||||||||||
Total non-accrual loans | 12,128 | 7,663 | 9,824 | ||||||||||||||||||||||
Total non-performing assets | $ | 13,567 | 9,211 | 10,505 | |||||||||||||||||||||
Non-performing assets / Total assets | 1.45 | % | 0.95 | % | 1.05 | % | |||||||||||||||||||
Summary of Activity in Company's Real Estate and Other Assets Owned | ' | ||||||||||||||||||||||||
The following is a summary of the activity in the Company’s real estate and other assets owned for the nine month period ending September 30, 2013: | |||||||||||||||||||||||||
Activity During 2013 | |||||||||||||||||||||||||
Balance | Reduction | Gain (Loss) | Balance | ||||||||||||||||||||||
12/31/12 | Foreclosures | Proceeds | in Values | on Sale | 9/30/13 | ||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||
One-to-four family mortgages | $ | 258 | 750 | (782 | ) | (8 | ) | 34 | 252 | ||||||||||||||||
Multi-family | — | — | — | — | — | — | |||||||||||||||||||
Construction | 130 | — | (110 | ) | (110 | ) | 90 | — | |||||||||||||||||
Land | 1,112 | — | — | — | — | 1,112 | |||||||||||||||||||
Non-residential real estate | 44 | 40 | (18 | ) | (11 | ) | 18 | 73 | |||||||||||||||||
Consumer assets | 4 | 7 | (3 | ) | (4 | ) | (2 | ) | 2 | ||||||||||||||||
Total | $ | 1,548 | 797 | (913 | ) | (133 | ) | 140 | 1,439 | ||||||||||||||||
The following is a summary of the activity in the Company’s real estate and other assets owned for the year ended December 31, 2012: | |||||||||||||||||||||||||
Activity During 2012 | |||||||||||||||||||||||||
Balance | Reduction | Gain (Loss) | Balance | ||||||||||||||||||||||
12/31/11 | Foreclosures | Proceeds | in Values | on Sale | 12/31/12 | ||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||
One-to-four family mortgages | $ | 480 | 983 | (1,084 | ) | (92 | ) | (29 | ) | 258 | |||||||||||||||
Multi-family | 905 | — | (875 | ) | — | (30 | ) | — | |||||||||||||||||
Construction | 465 | — | (321 | ) | — | (14 | ) | 130 | |||||||||||||||||
Land | 248 | 1,229 | (269 | ) | (77 | ) | (19 | ) | 1,112 | ||||||||||||||||
Non-residential real estate | 160 | 64 | (178 | ) | (20 | ) | 18 | 44 | |||||||||||||||||
Consumer assets | 9 | 9 | (11 | ) | — | (3 | ) | 4 | |||||||||||||||||
Total | $ | 2,267 | 2,285 | (2,738 | ) | (189 | ) | (77 | ) | 1,548 | |||||||||||||||
Investments_in_Affiliated_Comp1
Investments in Affiliated Companies (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Equity Method Investments And Joint Ventures [Abstract] | ' | ||||||||||||||||
Summary Statements of Financial Condition | ' | ||||||||||||||||
Summary Statements of Financial Condition | At September 30, 2013 | At December 31, 2012 | |||||||||||||||
Assets - investment in subordinated debentures issued by HopFed Bancorp, Inc. | $ | 10,310 | 10,310 | ||||||||||||||
Liabilities | |||||||||||||||||
Stockholder’s equity – trust preferred securities | 10,000 | 10,000 | |||||||||||||||
Common stock (100% Owned by HopFed Bancorp, Inc.) | 310 | 310 | |||||||||||||||
Total stockholders’ equity | $ | 10,310 | $ | 10,310 | |||||||||||||
Summary of Statement of Income | ' | ||||||||||||||||
Summary Statement of Income | |||||||||||||||||
Three Month Periods | Nine Month Period | ||||||||||||||||
Ended September 30, | Ended September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Income – interest income from subordinated debentures issued by HopFed Bancorp, Inc. | $ | 88 | 93 | $ | 264 | 282 | |||||||||||
Net income | $ | 88 | 93 | $ | 264 | 282 | |||||||||||
Summary of Statement of Stockholders' Equity | ' | ||||||||||||||||
Summary Statement of Stockholders’ Equity | |||||||||||||||||
Trust Preferred | Common | Retained | Total | ||||||||||||||
Securities | Stock | Earnings | Stockholders’ | ||||||||||||||
Equity | |||||||||||||||||
Beginning balances, December 31, 2012 | $ | 10,000 | 310 | — | 10,310 | ||||||||||||
Net income | — | — | 264 | 264 | |||||||||||||
Dividends: | |||||||||||||||||
Trust preferred securities | — | — | (256 | ) | (256 | ) | |||||||||||
Common paid to HopFed Bancorp, Inc. | — | — | (8 | ) | (8 | ) | |||||||||||
Ending balances, September 30, 2013 | $ | 10,000 | 310 | — | 10,310 | ||||||||||||
Fair_Value_of_Assets_and_Liabi1
Fair Value of Assets and Liabilities (Tables) | 9 Months Ended | ||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ' | ||||||||||||||||||||
Assets and Liabilities Measured on a Recurring Basis | |||||||||||||||||||||
The assets and liabilities measured at fair value on a recurring basis at September 30, 2013, are summarized below (Dollars in Thousands): | |||||||||||||||||||||
Description | Total carrying | Quoted Prices | Significant | Significant | |||||||||||||||||
value in the | In Active | Other | Unobservable | ||||||||||||||||||
consolidated | Markets for | Observable | Inputs | ||||||||||||||||||
balance sheet at | Identical Assets | Inputs | (Level 3) | ||||||||||||||||||
September 30, 2013 | (Level 1) | (Level 2) | |||||||||||||||||||
Assets | |||||||||||||||||||||
Available for sale securities | $ | 322,776 | — | 321,287 | 1,489 | ||||||||||||||||
Bank owned life insurance | $ | 9,574 | — | 9,574 | — | ||||||||||||||||
Liabilities | |||||||||||||||||||||
Interest rate swap | $ | 848 | — | 848 | — | ||||||||||||||||
The assets and liabilities measured at fair value on a recurring basis at December 31, 2012, are summarized below (Dollars in Thousands): | |||||||||||||||||||||
Description | Total carrying | Quoted Prices | Significant | Significant | |||||||||||||||||
value in the | In Active | Other | Unobservable | ||||||||||||||||||
consolidated | Markets for | Observable | Inputs | ||||||||||||||||||
balance sheet at | Identical Assets | Inputs | (Level 3) | ||||||||||||||||||
December 31, 2012 | (Level 1) | (Level 2) | |||||||||||||||||||
Assets | |||||||||||||||||||||
Available for sale securities | $ | 356,345 | — | 354,856 | 1,489 | ||||||||||||||||
Bank owned life insurance | $ | 9,323 | — | 9,323 | — | ||||||||||||||||
Liabilities | |||||||||||||||||||||
Interest rate swap | $ | 1,126 | — | 1,126 | — | ||||||||||||||||
Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis | ' | ||||||||||||||||||||
The assets and liabilities measured at fair value on a non-recurring basis are summarized below for September 30, 2013 (Dollars in Thousands): | |||||||||||||||||||||
Description | Total carrying | Quoted Prices | Significant | Significant | |||||||||||||||||
value in the | In Active | Other | Unobservable | ||||||||||||||||||
consolidated | Markets for | Observable | Inputs | ||||||||||||||||||
balance sheet at | Identical Assets | Inputs | (Level 3) | ||||||||||||||||||
September 30, 2013 | (Level 1) | (Level 2) | |||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||
Assets | |||||||||||||||||||||
Other real estate owned | $ | 1,437 | — | — | 1,437 | ||||||||||||||||
Other assets owned | 2 | — | — | 2 | |||||||||||||||||
Impaired loans, net of reserve of $3,402 | 41,875 | — | — | 41,875 | |||||||||||||||||
The assets and liabilities measured at fair value on a non-recurring basis are summarized below for December 31, 2012 (Dollars in Thousands): | |||||||||||||||||||||
Description | Total carrying | Quoted Prices | Significant | Significant | |||||||||||||||||
value in the | In Active | Other | Unobservable | ||||||||||||||||||
consolidated | Markets for | Observable | Inputs | ||||||||||||||||||
balance sheet at | Identical Assets | Inputs | (Level 3) | ||||||||||||||||||
December 31, 2012 | (Level 1) | (Level 2) | |||||||||||||||||||
Assets | |||||||||||||||||||||
Other real estate owned | $ | 1,544 | — | — | 1,544 | ||||||||||||||||
Other assets owned | 4 | — | — | 4 | |||||||||||||||||
Impaired loans, net of reserve of $3,841 | 62,763 | — | — | 62,763 | |||||||||||||||||
Roll-Forward of the Consolidated Condensed Statement of Financial Condition Items | ' | ||||||||||||||||||||
The table below includes a roll-forward of the consolidated condensed statement of financial condition items for the nine month periods ended September 30, 2013, and September 30, 2012, (including the change in fair value) for assets and liabilities classified by HopFed Bancorp, Inc. within level 3 of the valuation hierarchy for assets and liabilities measured at fair value on a recurring basis. When a determination is made to classify an asset or liability within level 3 of the valuation hierarchy, the determination is based upon the significance of the unobservable factors to the overall fair value measurement. However, since level 3 assets and liabilities typically include, in addition to the unobservable or level 3 components, observable components (that is components that are actively quoted and can be validated to external sources), the gains and losses in the table below include changes in fair value due in part to observable factors that are part of the valuation methodology. | |||||||||||||||||||||
Nine month period ended September 30, | 2013 | 2012 | |||||||||||||||||||
Other Assets | Other Liabilities | Other Assets | Other Liabilities | ||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||
Fair value, January 1, | $ | 1,489 | — | 993 | — | ||||||||||||||||
Change in unrealized losses included in other comprehensive income for assets and liabilities still held at September 30, | — | — | 429 | — | |||||||||||||||||
Purchases, issuances and settlements, net | — | — | — | — | |||||||||||||||||
Transfers in and/or out of Level 3 | — | — | — | — | |||||||||||||||||
Fair value, September 30, | $ | 1,489 | — | 1,422 | — | ||||||||||||||||
Estimated Fair Values of Financial Instruments | ' | ||||||||||||||||||||
The estimated fair values of financial instruments were as follows at September 30, 2013: | |||||||||||||||||||||
Carrying | Estimated | Quoted Prices | Using | Significant | |||||||||||||||||
Amount | Fair | In Active Markets | Significant | Unobservable | |||||||||||||||||
Value | for Identical | Other | Inputs | ||||||||||||||||||
Assets | Observable | Level 3 | |||||||||||||||||||
Level 1 | Inputs | ||||||||||||||||||||
Level 2 | |||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||
Financial Assets: | |||||||||||||||||||||
Cash and due from banks | $ | 24,566 | 24,566 | $ | 24,566 | — | — | ||||||||||||||
Interest-earning deposits | 3,777 | 3,777 | 3,777 | — | — | ||||||||||||||||
Securities available for sale | 322,776 | 322,776 | — | 321,287 | 1,489 | ||||||||||||||||
Federal Home Loan Bank stock | 4,428 | 4,428 | — | 4,428 | — | ||||||||||||||||
Loans receivable | 532,013 | 535,651 | — | — | 535,651 | ||||||||||||||||
Accrued interest receivable | 5,042 | 5,042 | — | 5,042 | — | ||||||||||||||||
Bank owned life insurance | 9,574 | 9,574 | — | 9,574 | — | ||||||||||||||||
Financial liabilities: | |||||||||||||||||||||
Deposits | 726,937 | 726,116 | 726,116 | — | |||||||||||||||||
Advances from borrowers for taxes and insurance | 822 | 822 | — | 822 | — | ||||||||||||||||
Advances from Federal Home Loan Bank | 47,276 | 46,168 | — | 46,168 | — | ||||||||||||||||
Repurchase agreements | 48,182 | 49,161 | — | 49,161 | — | ||||||||||||||||
Subordinated debentures | 10,310 | 10,091 | — | — | 10,091 | ||||||||||||||||
Off-balance-sheet liabilities: | |||||||||||||||||||||
Commitments to extend credit | — | — | — | — | — | ||||||||||||||||
Commercial letters of credit | — | — | — | — | — | ||||||||||||||||
Market value of interest rate swap | 848 | 848 | — | 848 | — | ||||||||||||||||
The estimated fair values of financial instruments were as follows at December 31, 2012: | |||||||||||||||||||||
Carrying | Estimated | Quoted Prices | Using | Significant | |||||||||||||||||
Amount | Fair | In Active Markets | Significant | Unobservable | |||||||||||||||||
Value | for Identical | Other | Inputs | ||||||||||||||||||
Assets | Observable | Level 3 | |||||||||||||||||||
Level 1 | Inputs | ||||||||||||||||||||
Level 2 | |||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||
Financial Assets: | |||||||||||||||||||||
Cash and due from banks | $ | 31,563 | 31,563 | $ | 31,563 | — | — | ||||||||||||||
Interest-earning deposits | 5,613 | 5,613 | 5,613 | — | — | ||||||||||||||||
Securities available for sale | 356,345 | 356,345 | — | 354,856 | 1,489 | ||||||||||||||||
Federal Home Loan Bank stock | 4,428 | 4,428 | — | 4,428 | — | ||||||||||||||||
Loans receivable | 524,985 | 532,040 | — | — | 532,040 | ||||||||||||||||
Accrued interest receivable | 5,398 | 5,398 | — | 5,398 | — | ||||||||||||||||
Bank owned life insurance | 9,323 | 9,323 | — | 9,323 | — | ||||||||||||||||
Financial liabilities: | |||||||||||||||||||||
Deposits | 759,865 | 756,426 | — | 756,426 | — | ||||||||||||||||
Advances from borrowers for taxes and insurance | 396 | 396 | — | 396 | — | ||||||||||||||||
Advances from Federal Home Loan Bank | 43,741 | 49,293 | — | 49,293 | — | ||||||||||||||||
Repurchase agreements | 43,508 | 44,779 | — | 44,779 | — | ||||||||||||||||
Subordinated debentures | 10,310 | 10,092 | — | — | 10,092 | ||||||||||||||||
Off-balance-sheet liabilities: | — | ||||||||||||||||||||
Commitments to extend credit | — | — | — | — | — | ||||||||||||||||
Commercial letters of credit | — | — | — | — | — | ||||||||||||||||
Market value of interest rate swap | 1,126 | 1,126 | — | 1,126 | — |
Regulatory_Changes_Tables
Regulatory Changes (Tables) | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Text Block [Abstract] | ' | ||||||||||||||||||||||||
Company's Analysis of Its Capital Position as Compared to the Basel III Requirements | ' | ||||||||||||||||||||||||
At September 30, 2013, the Company’s analysis of its capital position as compared to the Basel III requirements for January 1, 2019 is provided in the table below: | |||||||||||||||||||||||||
January 1, 2019 | |||||||||||||||||||||||||
Minimum | Minimum Ratio | ||||||||||||||||||||||||
Actual | Ratio | With Buffer | |||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||
Amount | Ratio | Amount | Ratio | Amount | Ratio | ||||||||||||||||||||
Common Equity Tier 1 Capital Ratio | |||||||||||||||||||||||||
Consolidated | 96,461 | 16.4 | % | 26,495 | 4.5 | % | 41,215 | 7 | % | ||||||||||||||||
Heritage Bank | 100,371 | 17.1 | % | 26,402 | 4.5 | % | 41,070 | 7 | % | ||||||||||||||||
Tier 1 Capital Ratio to Risk Weighted Assets | |||||||||||||||||||||||||
Consolidated | 106,461 | 18.1 | % | 35,327 | 6 | % | 50,047 | 8.5 | % | ||||||||||||||||
Heritage Bank | 100,371 | 17.1 | % | 35,203 | 6 | % | 49,870 | 8.5 | % | ||||||||||||||||
Minimum Total Capital Ratio to Risk Weighted Assets | |||||||||||||||||||||||||
Consolidated | 113,818 | 19.3 | % | 47,103 | 8 | % | 61,823 | 10.5 | % | ||||||||||||||||
Heritage Bank | 107,728 | 18.4 | % | 46,937 | 8 | % | 61,605 | 10.5 | % |
Basis_of_Presentation_Addition
Basis of Presentation - Additional Information (Detail) | 9 Months Ended |
Sep. 30, 2013 | |
Accounting Policies [Abstract] | ' |
Percentage of stock of Fall and Fall Insurance Agency owned by Bank | 100.00% |
Income_Per_Share_Reconciliatio
Income Per Share - Reconciliation of Basic and Diluted Income (Loss) Per Share (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
Basic IPS: | ' | ' | ' | ' |
Net income available to common stockholders | $536,000 | $819,000 | $2,686,000 | $2,192,000 |
Average common shares outstanding | 7,483,582 | 7,487,283 | 7,483,606 | 7,485,571 |
Net income per share available to common shareholders, basic | $0.07 | $0.11 | $0.36 | $0.29 |
Diluted IPS | ' | ' | ' | ' |
Net income available to common stockholders | $536,000 | $819,000 | $2,686,000 | $2,192,000 |
Average common shares outstanding | 7,483,582 | 7,487,283 | 7,483,606 | 7,485,571 |
Dilutive effect of stock options | ' | ' | ' | ' |
Average diluted shares outstanding | 7,483,582 | 7,487,283 | 7,483,606 | 7,485,571 |
Net income per share available to common shareholders, diluted | $0.07 | $0.11 | $0.36 | $0.29 |
Stock_Compensation_Additional_
Stock Compensation - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
2004 Long Term Incentive Plan [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Compensation cost related to the HopFed Bancorp, Inc | $28,000 | $23,000 | $75,000 | $77,000 |
2013 Long Term Incentive Plan [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Shares granted to Directors and employees of the company and the Bank | 300,000 | ' | 300,000 | ' |
Restricted Stock [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Shares of restricted stock issued | 21,332 | 0 | 21,559 | 10,392 |
Restricted Stock [Member] | 2013 Long Term Incentive Plan [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Shares of restricted stock issued | ' | ' | 21,332 | ' |
Shares of additional future Issuance restricted stock | 278,668 | ' | 278,668 | ' |
Stock_Compensation_Companys_Fu
Stock Compensation - Company's Future Compensation Expense Related to Restricted Stock Vesting (Detail) (USD $) | Sep. 30, 2013 |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' |
2013 | $34,256 |
2014 | 124,192 |
2015 | 101,773 |
2016 | 48,272 |
2017 | 3,125 |
Total | $311,618 |
Securities_Additional_Informat
Securities - Additional Information (Detail) (USD $) | 0 Months Ended | 1 Months Ended | 0 Months Ended | 9 Months Ended | ||||||
Jun. 30, 2008 | Jun. 30, 2008 | Sep. 30, 2013 | Apr. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Jun. 30, 2008 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | |
Agreement | FFKY [Member] | FFKY [Member] | FFKY [Member] | Elizabethtown [Member] | Maximum [Member] | Minimum [Member] | Minimum [Member] | |||
Securities | Subordinated Debt [Member] | FFKY [Member] | FFKY [Member] | |||||||
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of securities with unrealized losses | ' | ' | 88 | ' | ' | ' | ' | ' | ' | ' |
Investment par value | ' | $2,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Total amount of security offered under private placement by issuer | ' | 8,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Investment interest percentage | ' | 8.00% | ' | ' | ' | ' | ' | ' | ' | ' |
Purchase price of business acquired by issuer of security | ' | ' | ' | ' | ' | ' | 969,700,000 | ' | ' | ' |
Period Of Deferring Dividend Payments | ' | ' | ' | ' | ' | ' | ' | '5 years | ' | '3 years |
Preferred Stock issued to United States Treasury by issuer of Security | 20,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of par value of securities at which security sold by treasury | ' | ' | ' | 54.00% | ' | ' | ' | ' | ' | ' |
Tier One Risk Based Capital Percentage | ' | ' | 18.10% | ' | 7.27% | ' | ' | ' | 6.00% | ' |
Risk Based Capital Ratio | ' | ' | ' | ' | 12.36% | ' | ' | ' | ' | ' |
Impairment Charge | ' | ' | ' | ' | ' | 400,000 | ' | ' | ' | ' |
Securities pledged to municipalities for deposits in excess of FDIC limits, book value | ' | ' | 154,700,000 | ' | ' | ' | ' | ' | ' | ' |
Securities pledged to municipalities for deposits in excess of FDIC limits, market value | ' | ' | 150,100,000 | ' | ' | ' | ' | ' | ' | ' |
Letter of credit issued by FHLB | ' | ' | 13,500,000 | ' | ' | ' | ' | ' | ' | ' |
Securities with market value sold under agreements to repurchase from various customers | ' | ' | 32,200,000 | ' | ' | ' | ' | ' | ' | ' |
Number of wholesale repurchase agreements with third parties secured by investments | ' | ' | 2 | ' | ' | ' | ' | ' | ' | ' |
Wholesale repurchase agreements with combined book value | ' | ' | 19,900,000 | ' | ' | ' | ' | ' | ' | ' |
Wholesale repurchase agreements with combined market value | ' | ' | 19,400,000 | ' | ' | ' | ' | ' | ' | ' |
Investment repurchase agreement one, amount | ' | ' | 6,000,000 | ' | ' | ' | ' | ' | ' | ' |
Repurchase agreement one, maturity date | ' | ' | 18-Sep-16 | ' | ' | ' | ' | ' | ' | ' |
Repurchase agreement one, interest rate | ' | ' | 4.36% | ' | ' | ' | ' | ' | ' | ' |
Investment repurchase agreement two, amount | ' | ' | $10,000,000 | ' | ' | ' | ' | ' | ' | ' |
Repurchase agreement two, maturity date | ' | ' | 5-Sep-14 | ' | ' | ' | ' | ' | ' | ' |
Repurchase agreement two, interest rate | ' | ' | 4.28% | ' | ' | ' | ' | ' | ' | ' |
Securities_Amortized_Cost_of_S
Securities - Amortized Cost of Securities and their Estimated Fair Values (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | $321,783 | $340,488 |
Gross Unrealized Gains | 6,661 | 16,628 |
Gross Unrealized Losses | -5,668 | -771 |
Estimated Fair Value | 322,776 | 356,345 |
FHLB Stock [Member] | Restricted [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 4,428 | 4,428 |
Gross Unrealized Gains | ' | ' |
Gross Unrealized Losses | ' | ' |
Estimated Fair Value | 4,428 | 4,428 |
Agency Debt Securities [Member] | Unrestricted [Member] | US Government and Agency Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 120,813 | 147,659 |
Gross Unrealized Gains | 2,284 | 5,202 |
Gross Unrealized Losses | -2,050 | -83 |
Estimated Fair Value | 121,047 | 152,778 |
Corporate Bonds [Member] | Unrestricted [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 2,000 | ' |
Gross Unrealized Gains | ' | ' |
Gross Unrealized Losses | -8 | ' |
Estimated Fair Value | 1,992 | ' |
Taxable Municipals Bonds [Member] | Unrestricted [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 17,813 | 12,535 |
Gross Unrealized Gains | 317 | 1,209 |
Gross Unrealized Losses | -456 | -8 |
Estimated Fair Value | 17,674 | 13,736 |
Tax Free Municipals Bonds [Member] | Unrestricted [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 66,281 | 68,331 |
Gross Unrealized Gains | 2,418 | 5,756 |
Gross Unrealized Losses | -811 | -40 |
Estimated Fair Value | 67,888 | 74,047 |
Trust Preferred Securities [Member] | Unrestricted [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 1,600 | 2,000 |
Gross Unrealized Gains | ' | ' |
Gross Unrealized Losses | -111 | -511 |
Estimated Fair Value | 1,489 | 1,489 |
GNMA [Member] | Mortgage-Backed Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 18,086 | 19,172 |
Gross Unrealized Gains | 725 | 1,244 |
Gross Unrealized Losses | -105 | -19 |
Estimated Fair Value | 18,706 | 20,397 |
FNMA [Member] | Mortgage-Backed Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 67,913 | 64,805 |
Gross Unrealized Gains | 675 | 2,558 |
Gross Unrealized Losses | -1,565 | -58 |
Estimated Fair Value | 67,023 | 67,305 |
FHLMC [Member] | Mortgage-Backed Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 1,418 | 4,519 |
Gross Unrealized Gains | 17 | 153 |
Gross Unrealized Losses | ' | ' |
Estimated Fair Value | 1,435 | 4,672 |
Non-Agency CMOs [Member] | Mortgage-Backed Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 13,807 | 5,412 |
Gross Unrealized Gains | 36 | 80 |
Gross Unrealized Losses | -387 | ' |
Estimated Fair Value | 13,456 | 5,492 |
Agency CMOs [Member] | Mortgage-Backed Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 12,052 | 16,055 |
Gross Unrealized Gains | 189 | 426 |
Gross Unrealized Losses | -175 | -52 |
Estimated Fair Value | $12,066 | $16,429 |
Securities_Maturities_of_Debt_
Securities - Maturities of Debt Securities Available for Sale (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Due within one year, Amortized Cost | $305 | $345 |
Due in one to five years, Amortized Cost | 14,276 | 11,499 |
Due in five to ten years, Amortized Cost | 36,507 | 30,007 |
Due in more than ten years, Amortized Cost | 50,984 | 53,222 |
Total, Amortized Cost | 102,072 | 95,073 |
Total unrestricted securities available for sale, Amortized Cost | 321,783 | 340,488 |
Due within one year, Estimated Fair Value | 308 | 346 |
Due in one to five years, Estimated Fair Value | 14,485 | 11,682 |
Due in five to ten years, Estimated Fair Value | 36,032 | 32,316 |
Due in more than ten years, Estimated Fair Value | 51,618 | 57,290 |
Total, Estimated Fair Value | 102,443 | 101,634 |
Total unrestricted securities available for sale, Estimated Fair Value | 322,776 | 356,345 |
Amortizing Agency Bonds [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Total, Amortized Cost | 106,435 | 135,452 |
Total, Estimated Fair Value | 107,646 | 140,416 |
Mortgage-Backed Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Total, Amortized Cost | 113,276 | 109,963 |
Total, Estimated Fair Value | $112,687 | $114,295 |
Securities_Estimated_Fair_Valu
Securities - Estimated Fair Value and Unrealized Loss Amounts of Impaired Investments (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Estimated Fair Value, Less than 12 months | $117,367 | $29,285 |
Unrealized Losses, Less than 12 months | -5,506 | -241 |
Estimated Fair Value, 12 months or longer | 3,654 | 2,904 |
Unrealized Losses, 12 months or longer | -162 | -530 |
Estimated Fair Value | 121,021 | 32,189 |
Unrealized Losses | -5,668 | -771 |
Temporarily Impaired Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Estimated Fair Value, Less than 12 months | 117,367 | ' |
Unrealized Losses, Less than 12 months | -5,506 | ' |
Estimated Fair Value, 12 months or longer | 2,165 | ' |
Unrealized Losses, 12 months or longer | -51 | ' |
Estimated Fair Value | 119,532 | ' |
Unrealized Losses | -5,557 | ' |
Agency Debt Securities [Member] | U.S. Government and Agency Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Estimated Fair Value, Less than 12 months | ' | 12,317 |
Unrealized Losses, Less than 12 months | ' | -83 |
Estimated Fair Value, 12 months or longer | ' | ' |
Unrealized Losses, 12 months or longer | ' | ' |
Estimated Fair Value | ' | 12,317 |
Unrealized Losses | ' | -83 |
Agency Debt Securities [Member] | U.S. Government and Agency Securities [Member] | Temporarily Impaired Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Estimated Fair Value, Less than 12 months | 36,537 | ' |
Unrealized Losses, Less than 12 months | -2,034 | ' |
Estimated Fair Value, 12 months or longer | 1,283 | ' |
Unrealized Losses, 12 months or longer | -16 | ' |
Estimated Fair Value | 37,820 | ' |
Unrealized Losses | -2,050 | ' |
Taxable Municipals Bonds [Member] | U.S. Government and Agency Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Estimated Fair Value, Less than 12 months | ' | 885 |
Unrealized Losses, Less than 12 months | ' | -8 |
Estimated Fair Value, 12 months or longer | ' | ' |
Unrealized Losses, 12 months or longer | ' | ' |
Estimated Fair Value | ' | 885 |
Unrealized Losses | ' | -8 |
Taxable Municipals Bonds [Member] | U.S. Government and Agency Securities [Member] | Temporarily Impaired Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Estimated Fair Value, Less than 12 months | 6,629 | ' |
Unrealized Losses, Less than 12 months | -421 | ' |
Estimated Fair Value, 12 months or longer | 882 | ' |
Unrealized Losses, 12 months or longer | -35 | ' |
Estimated Fair Value | 7,511 | ' |
Unrealized Losses | -456 | ' |
Tax Free Municipals Bonds [Member] | U.S. Government and Agency Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Estimated Fair Value, Less than 12 months | ' | 5,315 |
Unrealized Losses, Less than 12 months | ' | -40 |
Estimated Fair Value, 12 months or longer | ' | ' |
Unrealized Losses, 12 months or longer | ' | ' |
Estimated Fair Value | ' | 5,315 |
Unrealized Losses | ' | -40 |
Tax Free Municipals Bonds [Member] | U.S. Government and Agency Securities [Member] | Temporarily Impaired Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Estimated Fair Value, Less than 12 months | 13,915 | ' |
Unrealized Losses, Less than 12 months | -811 | ' |
Estimated Fair Value, 12 months or longer | ' | ' |
Unrealized Losses, 12 months or longer | ' | ' |
Estimated Fair Value | 13,915 | ' |
Unrealized Losses | -811 | ' |
Trust Preferred Securities [Member] | Other Than Temporarily Impaired Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Estimated Fair Value, Less than 12 months | ' | ' |
Unrealized Losses, Less than 12 months | ' | ' |
Estimated Fair Value, 12 months or longer | 1,489 | ' |
Unrealized Losses, 12 months or longer | -111 | ' |
Estimated Fair Value | 1,489 | ' |
Unrealized Losses | -111 | ' |
Trust Preferred Securities [Member] | U.S. Government and Agency Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Estimated Fair Value, Less than 12 months | ' | ' |
Unrealized Losses, Less than 12 months | ' | ' |
Estimated Fair Value, 12 months or longer | ' | 1,489 |
Unrealized Losses, 12 months or longer | ' | -511 |
Estimated Fair Value | ' | 1,489 |
Unrealized Losses | ' | -511 |
GNMA [Member] | Mortgage-Backed Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Estimated Fair Value, Less than 12 months | ' | ' |
Unrealized Losses, Less than 12 months | ' | ' |
Estimated Fair Value, 12 months or longer | ' | 1,415 |
Unrealized Losses, 12 months or longer | ' | -19 |
Estimated Fair Value | ' | 1,415 |
Unrealized Losses | ' | -19 |
GNMA [Member] | Mortgage-Backed Securities [Member] | Temporarily Impaired Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Estimated Fair Value, Less than 12 months | 4,330 | ' |
Unrealized Losses, Less than 12 months | -105 | ' |
Estimated Fair Value, 12 months or longer | ' | ' |
Unrealized Losses, 12 months or longer | ' | ' |
Estimated Fair Value | 4,330 | ' |
Unrealized Losses | -105 | ' |
FNMA [Member] | Mortgage-Backed Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Estimated Fair Value, Less than 12 months | ' | 7,077 |
Unrealized Losses, Less than 12 months | ' | -58 |
Estimated Fair Value, 12 months or longer | ' | ' |
Unrealized Losses, 12 months or longer | ' | ' |
Estimated Fair Value | ' | 7,077 |
Unrealized Losses | ' | -58 |
FNMA [Member] | Mortgage-Backed Securities [Member] | Temporarily Impaired Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Estimated Fair Value, Less than 12 months | 44,187 | ' |
Unrealized Losses, Less than 12 months | -1,565 | ' |
Estimated Fair Value, 12 months or longer | ' | ' |
Unrealized Losses, 12 months or longer | ' | ' |
Estimated Fair Value | 44,187 | ' |
Unrealized Losses | -1,565 | ' |
FHLMC [Member] | Mortgage-Backed Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Estimated Fair Value, Less than 12 months | ' | ' |
Unrealized Losses, Less than 12 months | ' | ' |
Estimated Fair Value, 12 months or longer | ' | ' |
Unrealized Losses, 12 months or longer | ' | ' |
Estimated Fair Value | ' | ' |
Unrealized Losses | ' | ' |
FHLMC [Member] | Mortgage-Backed Securities [Member] | Temporarily Impaired Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Estimated Fair Value, Less than 12 months | ' | ' |
Unrealized Losses, Less than 12 months | ' | ' |
Estimated Fair Value, 12 months or longer | ' | ' |
Unrealized Losses, 12 months or longer | ' | ' |
Estimated Fair Value | ' | ' |
Unrealized Losses | ' | ' |
Non-Agency CMOs [Member] | Mortgage-Backed Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Estimated Fair Value, Less than 12 months | ' | ' |
Unrealized Losses, Less than 12 months | ' | ' |
Estimated Fair Value, 12 months or longer | ' | ' |
Unrealized Losses, 12 months or longer | ' | ' |
Estimated Fair Value | ' | ' |
Unrealized Losses | ' | ' |
Non-Agency CMOs [Member] | Mortgage-Backed Securities [Member] | Temporarily Impaired Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Estimated Fair Value, Less than 12 months | 5,309 | ' |
Unrealized Losses, Less than 12 months | -387 | ' |
Estimated Fair Value, 12 months or longer | ' | ' |
Unrealized Losses, 12 months or longer | ' | ' |
Estimated Fair Value | 5,309 | ' |
Unrealized Losses | -387 | ' |
Agency CMOs [Member] | Mortgage-Backed Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Estimated Fair Value, Less than 12 months | ' | 3,691 |
Unrealized Losses, Less than 12 months | ' | -52 |
Estimated Fair Value, 12 months or longer | ' | ' |
Unrealized Losses, 12 months or longer | ' | ' |
Estimated Fair Value | ' | 3,691 |
Unrealized Losses | ' | -52 |
Agency CMOs [Member] | Mortgage-Backed Securities [Member] | Temporarily Impaired Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Estimated Fair Value, Less than 12 months | 4,468 | ' |
Unrealized Losses, Less than 12 months | -175 | ' |
Estimated Fair Value, 12 months or longer | ' | ' |
Unrealized Losses, 12 months or longer | ' | ' |
Estimated Fair Value | 4,468 | ' |
Unrealized Losses | -175 | ' |
Corporate Bonds [Member] | U.S. Government and Agency Securities [Member] | Temporarily Impaired Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Estimated Fair Value, Less than 12 months | 1,992 | ' |
Unrealized Losses, Less than 12 months | -8 | ' |
Estimated Fair Value, 12 months or longer | ' | ' |
Unrealized Losses, 12 months or longer | ' | ' |
Estimated Fair Value | 1,992 | ' |
Unrealized Losses | ($8) | ' |
Securities_Summary_Other_Than_
Securities - Summary Other Than Temporary Impairment Losses on Securities (Detail) (USD $) | 3 Months Ended | 9 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2013 |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Total other-than-temporary impairment losses | $511 | $511 |
Less: unrealized other-than-temporary losses recognized in accumulated other comprehensive loss | ' | 111 |
Net impairment losses recognized in earnings | ' | 400 |
Trust Preferred Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Total other-than-temporary impairment losses | ' | 511 |
Less: unrealized other-than-temporary losses recognized in accumulated other comprehensive loss | ' | 111 |
Net impairment losses recognized in earnings | ' | $400 |
Securities_Activity_Related_to
Securities - Activity Related to Credit Component Recognized in Earnings on Debt Securities Held by Entity (Detail) (USD $) | 9 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2013 |
Investments Debt And Equity Securities [Abstract] | ' |
Beginning, Balance | ' |
Credit losses on securities for which other-than-temporary impairment was not previously recorded: | 400 |
Additional credit losses on securities for which an other-than temporary impairment charge was previously recorded | ' |
Reductions for securities sold during the period | ' |
Ending, Balance | $400 |
Loans_Additional_Information_D
Loans - Additional Information (Detail) (USD $) | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | |
Receivables [Abstract] | ' | ' | ' |
Minimum percentage of concentrations of loans | 10.00% | ' | 10.00% |
Concentrations of loans | $0 | ' | $0 |
Allowance for loan losses | 9,418,000 | 10,500,000 | 10,648,000 |
Ratio of the allowance for loan losses to total loans | 1.74% | 1.91% | 1.99% |
Company's annualized net charge off ratios | 0.61% | 0.61% | 0.52% |
Ratios of allowance for loan losses to non-accrual loans | 77.67% | 106.78% | 138.99% |
Annual reviews of loan to ascertain the borrowers continued ability to service | 1,000,000 | ' | ' |
Loans past due period for classify to risk grade | '60 days | ' | ' |
Loans past due period for classify to substandard grade | '12 months | ' | ' |
Company's impaired loans | 45,277,000 | 75,800,000 | 66,604,000 |
Related Allowance | $3,402,000 | $3,600,000 | $3,841,000 |
Loans_Composition_of_Loan_Port
Loans - Composition of Loan Portfolio by Type of Loan (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 |
In Thousands, unless otherwise specified | |||
Real estate loans: | ' | ' | ' |
Total loans, gross | $541,460 | $535,487 | ' |
Deferred loan costs (fees), net of income | -29 | 146 | ' |
Less allowance for loan losses | -9,418 | -10,648 | -10,500 |
Total loans | 532,013 | 524,985 | ' |
Loans and Leases Receivable in Percentage | 100.00% | 100.00% | ' |
Real Estate Loans [Member] | ' | ' | ' |
Real estate loans: | ' | ' | ' |
Total loans, gross | 474,346 | 471,052 | ' |
Loans and Leases Receivable in Percentage | 87.60% | 87.90% | ' |
Consumer Loans [Member] | ' | ' | ' |
Real estate loans: | ' | ' | ' |
Total loans, gross | 12,379 | 13,886 | ' |
Loans and Leases Receivable in Percentage | 2.30% | 2.60% | ' |
Commercial Loans [Member] | ' | ' | ' |
Real estate loans: | ' | ' | ' |
Total loans, gross | 54,735 | 50,549 | ' |
Loans and Leases Receivable in Percentage | 10.10% | 9.50% | ' |
Total Other Loans [Member] | ' | ' | ' |
Real estate loans: | ' | ' | ' |
Total loans, gross | 67,114 | 64,435 | ' |
Loans and Leases Receivable in Percentage | 12.40% | 12.10% | ' |
One-to-Four Family Mortgages [Member] | ' | ' | ' |
Real estate loans: | ' | ' | ' |
Total loans, gross | 157,857 | 162,335 | ' |
One-to-Four Family Mortgages [Member] | Real Estate Loans [Member] | ' | ' | ' |
Real estate loans: | ' | ' | ' |
Total loans, gross | 157,857 | 162,335 | ' |
Loans and Leases Receivable in Percentage | 29.20% | 30.30% | ' |
Second Mortgages (Closed End) [Member] | Real Estate Loans [Member] | ' | ' | ' |
Real estate loans: | ' | ' | ' |
Total loans, gross | 3,576 | 4,336 | ' |
Loans and Leases Receivable in Percentage | 0.70% | 0.80% | ' |
Home Equity Line of Credit [Member] | ' | ' | ' |
Real estate loans: | ' | ' | ' |
Total loans, gross | 35,072 | 37,083 | ' |
Home Equity Line of Credit [Member] | Real Estate Loans [Member] | ' | ' | ' |
Real estate loans: | ' | ' | ' |
Total loans, gross | 35,072 | 37,083 | ' |
Loans and Leases Receivable in Percentage | 6.50% | 6.90% | ' |
Multi-Family [Member] | ' | ' | ' |
Real estate loans: | ' | ' | ' |
Total loans, gross | 28,433 | 33,056 | ' |
Multi-Family [Member] | Real Estate Loans [Member] | ' | ' | ' |
Real estate loans: | ' | ' | ' |
Total loans, gross | 28,433 | 33,056 | ' |
Loans and Leases Receivable in Percentage | 5.20% | 6.20% | ' |
Construction [Member] | ' | ' | ' |
Real estate loans: | ' | ' | ' |
Total loans, gross | 9,358 | 18,900 | ' |
Construction [Member] | Real Estate Loans [Member] | ' | ' | ' |
Real estate loans: | ' | ' | ' |
Total loans, gross | 9,358 | 18,900 | ' |
Loans and Leases Receivable in Percentage | 1.70% | 3.50% | ' |
Land [Member] | ' | ' | ' |
Real estate loans: | ' | ' | ' |
Total loans, gross | 37,647 | 45,906 | ' |
Land [Member] | Real Estate Loans [Member] | ' | ' | ' |
Real estate loans: | ' | ' | ' |
Total loans, gross | 37,647 | 45,906 | ' |
Loans and Leases Receivable in Percentage | 6.90% | 8.60% | ' |
Farmland [Member] | ' | ' | ' |
Real estate loans: | ' | ' | ' |
Total loans, gross | 50,908 | 46,799 | ' |
Farmland [Member] | Real Estate Loans [Member] | ' | ' | ' |
Real estate loans: | ' | ' | ' |
Total loans, gross | 50,908 | 46,799 | ' |
Loans and Leases Receivable in Percentage | 9.40% | 8.70% | ' |
Non-Residential Real Estate [Member] | ' | ' | ' |
Real estate loans: | ' | ' | ' |
Total loans, gross | 151,495 | 122,637 | ' |
Non-Residential Real Estate [Member] | Real Estate Loans [Member] | ' | ' | ' |
Real estate loans: | ' | ' | ' |
Total loans, gross | $151,495 | $122,637 | ' |
Loans and Leases Receivable in Percentage | 28.00% | 22.90% | ' |
Loans_NonResidential_Real_Esta
Loans - Non-Residential Real Estate Loan Portfolio (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Non residential real estate loan portfolio, Total | $240,050 | $215,342 |
Land [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Non residential real estate loan portfolio, Total | 37,647 | 45,906 |
Manufacturing [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Non residential real estate loan portfolio, Total | 4,102 | 3,856 |
Professional, Technical [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Non residential real estate loan portfolio, Total | 1,884 | 2,025 |
Retail Trade [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Non residential real estate loan portfolio, Total | 11,768 | 12,391 |
Other Services [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Non residential real estate loan portfolio, Total | 19,419 | 18,303 |
Finance & Insurance [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Non residential real estate loan portfolio, Total | 1,886 | 386 |
Agricultural Forestry Fishing and Hunting [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Non residential real estate loan portfolio, Total | 47,421 | 42,420 |
Real Estate and Rental and Leasing [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Non residential real estate loan portfolio, Total | 53,221 | 48,249 |
Wholesale Trade [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Non residential real estate loan portfolio, Total | 21,745 | 8,891 |
Arts, Entertainment & Recreation [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Non residential real estate loan portfolio, Total | 3,127 | 3,461 |
Accommodations / Food Service [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Non residential real estate loan portfolio, Total | 26,002 | 17,152 |
Healthcare and Social Assistance [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Non residential real estate loan portfolio, Total | 6,972 | 7,932 |
Transportation & Warehousing [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Non residential real estate loan portfolio, Total | 1,152 | 1,295 |
Information [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Non residential real estate loan portfolio, Total | 2,469 | 2,488 |
Non-Industry [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Non residential real estate loan portfolio, Total | 863 | 46 |
Admin Support / Waste Mgmt [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Non residential real estate loan portfolio, Total | $372 | $541 |
Loans_NonAccrual_Loans_Detail
Loans - Non-Accrual Loans (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 |
In Thousands, unless otherwise specified | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Total non-accrual loans | $12,128 | $7,663 | $9,824 |
One-to-Four Family Mortgages [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Total non-accrual loans | 865 | 2,243 | 2,795 |
Home Equity Line of Credit [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Total non-accrual loans | 275 | 66 | 24 |
Junior Liens [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Total non-accrual loans | 2 | 4 | ' |
Multi-Family [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Total non-accrual loans | ' | 38 | 190 |
Construction [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Total non-accrual loans | ' | ' | ' |
Land [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Total non-accrual loans | 2,257 | 2,768 | 3,279 |
Non-Residential Real Estate [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Total non-accrual loans | 7,187 | 1,134 | 1,268 |
Farmland [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Total non-accrual loans | 744 | 648 | 49 |
Consumer Loans [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Total non-accrual loans | 316 | 145 | 59 |
Commercial Loans [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Total non-accrual loans | $482 | $617 | $2,160 |
Loans_Allowance_for_Loan_Loss_
Loans - Allowance for Loan Loss Account by Loan (Detail) (USD $) | 9 Months Ended | 12 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Beginning balance | $10,648 | $11,262 | $11,262 |
Charge off | -2,858 | -3,086 | -3,684 |
Recoveries | 420 | 539 | 795 |
General Provision | -791 | ' | 2,777 |
Specific Provision | 1,999 | ' | -502 |
Ending balance | 9,418 | 10,490 | 10,648 |
One-to-Four Family Mortgages [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Beginning balance | 2,490 | 2,640 | 2,640 |
Charge off | -432 | -282 | -379 |
Recoveries | 47 | 77 | 81 |
General Provision | -350 | ' | 324 |
Specific Provision | 386 | ' | -176 |
Ending balance | 2,141 | ' | 2,490 |
Home Equity Line of Credit [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Beginning balance | 374 | 408 | 408 |
Charge off | -21 | -65 | -67 |
Recoveries | 9 | 5 | 6 |
General Provision | -80 | ' | 6 |
Specific Provision | 2 | ' | 21 |
Ending balance | 284 | ' | 374 |
Junior Liens [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Beginning balance | 230 | 277 | 277 |
Charge off | -119 | -1 | -1 |
Recoveries | 27 | 3 | 4 |
General Provision | 43 | ' | ' |
Specific Provision | -79 | ' | -50 |
Ending balance | 102 | ' | 230 |
Multi-Family [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Beginning balance | 524 | 1,201 | 1,201 |
Charge off | -38 | -416 | -417 |
Recoveries | 164 | ' | ' |
General Provision | -136 | ' | 429 |
Specific Provision | -164 | ' | -689 |
Ending balance | 350 | ' | 524 |
Construction [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Beginning balance | 256 | 139 | 139 |
Charge off | ' | ' | ' |
Recoveries | ' | ' | ' |
General Provision | -187 | ' | 117 |
Ending balance | 69 | ' | 256 |
Land [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Beginning balance | 2,184 | 1,332 | 1,332 |
Charge off | -393 | -1,033 | -1,033 |
Recoveries | 7 | 234 | 405 |
General Provision | -954 | ' | 635 |
Specific Provision | 282 | ' | 845 |
Ending balance | 1,126 | ' | 2,184 |
Non-Residential Real Estate [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Beginning balance | 2,914 | 3,671 | 3,671 |
Charge off | -1,040 | -799 | -1,120 |
Recoveries | 14 | 100 | 137 |
General Provision | 431 | ' | 718 |
Specific Provision | 1,359 | ' | -492 |
Ending balance | 3,678 | ' | 2,914 |
Farmland [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Beginning balance | 719 | ' | ' |
General Provision | -96 | ' | 315 |
Specific Provision | -184 | ' | 404 |
Ending balance | 439 | ' | 719 |
Consumer Loans [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Beginning balance | 338 | 262 | 262 |
Charge off | -535 | ' | -510 |
Recoveries | 146 | ' | 150 |
General Provision | 242 | ' | 404 |
Specific Provision | 387 | ' | 32 |
Ending balance | 578 | ' | 338 |
Commercial Loans [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Beginning balance | 619 | 1,332 | 1,332 |
Charge off | -280 | -206 | -157 |
Recoveries | 6 | 10 | 12 |
General Provision | 296 | ' | -171 |
Specific Provision | 10 | ' | -397 |
Ending balance | $651 | ' | $619 |
Loans_Past_Due_and_NonAccrual_
Loans - Past Due and Non-Accrual Balances by Loan Classification (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 |
In Thousands, unless otherwise specified | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Currently Performing | $474,839 | $453,205 | ' |
30-89 Days Past Due | 2,706 | 2,491 | ' |
Non-accrual Loans | 12,128 | 7,663 | 9,824 |
Special Mention | 6,518 | 13,511 | ' |
Impaired Loans Currently Performing Substandard | 45,269 | 58,617 | ' |
Impaired Loans Currently Performing Doubtful | ' | ' | ' |
Total loans, gross | 541,460 | 535,487 | ' |
One-to-Four Family Mortgages [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Currently Performing | 148,481 | 155,936 | ' |
30-89 Days Past Due | 1,682 | 1,339 | ' |
Non-accrual Loans | 865 | 2,243 | 2,795 |
Special Mention | 1,423 | 779 | ' |
Impaired Loans Currently Performing Substandard | 5,406 | 2,038 | ' |
Impaired Loans Currently Performing Doubtful | ' | ' | ' |
Total loans, gross | 157,857 | 162,335 | ' |
Home Equity Line of Credit [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Currently Performing | 33,672 | 34,732 | ' |
30-89 Days Past Due | 248 | 5 | ' |
Non-accrual Loans | 275 | 66 | 24 |
Special Mention | ' | 1,109 | ' |
Impaired Loans Currently Performing Substandard | 877 | 1,171 | ' |
Impaired Loans Currently Performing Doubtful | ' | ' | ' |
Total loans, gross | 35,072 | 37,083 | ' |
Junior Liens [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Currently Performing | 3,128 | 3,584 | ' |
30-89 Days Past Due | 33 | 237 | ' |
Non-accrual Loans | 2 | 4 | ' |
Special Mention | 44 | 47 | ' |
Impaired Loans Currently Performing Substandard | 369 | 464 | ' |
Impaired Loans Currently Performing Doubtful | ' | ' | ' |
Total loans, gross | 3,576 | 4,336 | ' |
Multi-Family [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Currently Performing | 28,433 | 27,463 | ' |
Non-accrual Loans | ' | 38 | 190 |
Special Mention | ' | 1,478 | ' |
Impaired Loans Currently Performing Substandard | ' | 4,077 | ' |
Impaired Loans Currently Performing Doubtful | ' | ' | ' |
Total loans, gross | 28,433 | 33,056 | ' |
Construction [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Currently Performing | 9,007 | 13,876 | ' |
30-89 Days Past Due | 175 | 176 | ' |
Non-accrual Loans | ' | ' | ' |
Special Mention | 176 | ' | ' |
Impaired Loans Currently Performing Substandard | ' | 4,848 | ' |
Impaired Loans Currently Performing Doubtful | ' | ' | ' |
Total loans, gross | 9,358 | 18,900 | ' |
Land [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Currently Performing | 17,259 | 14,237 | ' |
30-89 Days Past Due | 133 | 137 | ' |
Non-accrual Loans | 2,257 | 2,768 | 3,279 |
Special Mention | 1,789 | 7,683 | ' |
Impaired Loans Currently Performing Substandard | 16,209 | 21,081 | ' |
Impaired Loans Currently Performing Doubtful | ' | ' | ' |
Total loans, gross | 37,647 | 45,906 | ' |
Non-Residential Real Estate [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Currently Performing | 127,731 | 101,894 | ' |
30-89 Days Past Due | 90 | 293 | ' |
Non-accrual Loans | 7,187 | 1,134 | 1,268 |
Special Mention | 2,183 | 1,230 | ' |
Impaired Loans Currently Performing Substandard | 14,304 | 18,647 | ' |
Impaired Loans Currently Performing Doubtful | ' | ' | ' |
Total loans, gross | 151,495 | 122,637 | ' |
Consumer Loans [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Currently Performing | 11,376 | 13,266 | ' |
30-89 Days Past Due | 151 | 74 | ' |
Non-accrual Loans | 316 | 145 | ' |
Impaired Loans Currently Performing Substandard | 536 | 401 | ' |
Impaired Loans Currently Performing Doubtful | ' | ' | ' |
Total loans, gross | 12,379 | 13,886 | ' |
Commercial Loans [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Currently Performing | 51,324 | 43,961 | ' |
30-89 Days Past Due | 91 | 230 | ' |
Non-accrual Loans | 482 | 617 | 2,160 |
Special Mention | 96 | 516 | ' |
Impaired Loans Currently Performing Substandard | 2,742 | 5,225 | ' |
Impaired Loans Currently Performing Doubtful | ' | ' | ' |
Total loans, gross | 54,735 | 50,549 | ' |
Farmland [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Currently Performing | 44,428 | 44,256 | ' |
30-89 Days Past Due | 103 | ' | ' |
Non-accrual Loans | 744 | 648 | 49 |
Special Mention | 807 | 669 | ' |
Impaired Loans Currently Performing Substandard | 4,826 | 665 | ' |
Impaired Loans Currently Performing Doubtful | ' | ' | ' |
Total loans, gross | $50,908 | $46,799 | ' |
Loans_Banks_Allowance_for_Loan
Loans - Bank's Allowance for Loan Losses (Detail) (USD $) | 9 Months Ended | 12 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Beginning balance | $10,648 | $11,262 | $11,262 |
Charge off | -2,858 | -3,086 | -3,684 |
Recoveries | 420 | 539 | 795 |
Net Charge offs | -2,438 | -2,547 | -2,889 |
Provision for loan losses | 1,208 | 1,775 | 2,275 |
Ending balance | 9,418 | 10,490 | 10,648 |
Average loan balance, gross | 537,233 | 556,332 | 533,081 |
Ratio of net charge offs to average outstanding loans during the period | 0.61% | 0.61% | 0.52% |
One-to-Four Family Mortgages [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Beginning balance | 2,490 | 2,640 | 2,640 |
Charge off | -432 | -282 | -379 |
Recoveries | 47 | 77 | 81 |
Ending balance | 2,141 | ' | 2,490 |
Home Equity Line of Credit [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Beginning balance | 374 | 408 | 408 |
Charge off | -21 | -65 | -67 |
Recoveries | 9 | 5 | 6 |
Ending balance | 284 | ' | 374 |
Junior Liens [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Beginning balance | 230 | 277 | 277 |
Charge off | -119 | -1 | -1 |
Recoveries | 27 | 3 | 4 |
Ending balance | 102 | ' | 230 |
Multi-Family [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Beginning balance | 524 | 1,201 | 1,201 |
Charge off | -38 | -416 | -417 |
Recoveries | 164 | ' | ' |
Ending balance | 350 | ' | 524 |
Construction [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Beginning balance | 256 | 139 | 139 |
Charge off | ' | ' | ' |
Recoveries | ' | ' | ' |
Ending balance | 69 | ' | 256 |
Land [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Beginning balance | 2,184 | 1,332 | 1,332 |
Charge off | -393 | -1,033 | -1,033 |
Recoveries | 7 | 234 | 405 |
Ending balance | 1,126 | ' | 2,184 |
Non-Residential Real Estate [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Beginning balance | 2,914 | 3,671 | 3,671 |
Charge off | -1,040 | -799 | -1,120 |
Recoveries | 14 | 100 | 137 |
Ending balance | 3,678 | ' | 2,914 |
Consumer Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Charge off | -535 | -284 | -510 |
Recoveries | 146 | 110 | 150 |
Commercial Loans [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Beginning balance | 619 | 1,332 | 1,332 |
Charge off | -280 | -206 | -157 |
Recoveries | 6 | 10 | 12 |
Ending balance | $651 | ' | $619 |
Loans_Summary_of_Companys_Impa
Loans - Summary of Company's Impaired Loans (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | $541,460 | $535,487 |
Specific Allowance for Impairment | 3,402 | 3,841 |
Allowance for Performing Loans | 6,016 | 6,807 |
Pass [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | 489,665 | 455,372 |
Special Mention [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | 6,518 | 13,511 |
Impaired Loans Substandard [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | 45,277 | 66,604 |
Impaired Loans Doubtful [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | ' | ' |
One-to-Four Family Mortgages [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | 157,857 | 162,335 |
Specific Allowance for Impairment | 755 | 754 |
Allowance for Performing Loans | 1,386 | 1,736 |
One-to-Four Family Mortgages [Member] | Pass [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | 151,028 | 156,961 |
One-to-Four Family Mortgages [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | 1,423 | 779 |
One-to-Four Family Mortgages [Member] | Impaired Loans Substandard [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | 5,406 | 4,595 |
One-to-Four Family Mortgages [Member] | Impaired Loans Doubtful [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | ' | ' |
Home Equity Line of Credit [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | 35,072 | 37,083 |
Specific Allowance for Impairment | 66 | 76 |
Allowance for Performing Loans | 218 | 298 |
Home Equity Line of Credit [Member] | Pass [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | 34,195 | 34,737 |
Home Equity Line of Credit [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | ' | 1,109 |
Home Equity Line of Credit [Member] | Impaired Loans Substandard [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | 877 | 1,237 |
Home Equity Line of Credit [Member] | Impaired Loans Doubtful [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | ' | ' |
Junior Liens [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | 3,576 | 4,336 |
Specific Allowance for Impairment | 17 | 188 |
Allowance for Performing Loans | 85 | 42 |
Junior Liens [Member] | Pass [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | 3,163 | 3,821 |
Junior Liens [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | 44 | 47 |
Junior Liens [Member] | Impaired Loans Substandard [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | 369 | 468 |
Junior Liens [Member] | Impaired Loans Doubtful [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | ' | ' |
Multi-Family [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | 28,433 | 33,056 |
Specific Allowance for Impairment | ' | 38 |
Allowance for Performing Loans | 350 | 486 |
Multi-Family [Member] | Pass [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | 28,433 | 27,463 |
Multi-Family [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | ' | 1,478 |
Multi-Family [Member] | Impaired Loans Substandard [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | ' | 4,115 |
Multi-Family [Member] | Impaired Loans Doubtful [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | ' | ' |
Construction [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | 9,358 | 18,900 |
Specific Allowance for Impairment | ' | ' |
Allowance for Performing Loans | 69 | 256 |
Construction [Member] | Pass [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | 9,182 | 14,052 |
Construction [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | 176 | ' |
Construction [Member] | Impaired Loans Substandard [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | ' | 4,848 |
Construction [Member] | Impaired Loans Doubtful [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | ' | ' |
Land [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | 37,647 | 45,906 |
Specific Allowance for Impairment | 828 | 932 |
Allowance for Performing Loans | 298 | 1,252 |
Land [Member] | Pass [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | 19,649 | 14,374 |
Land [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | 1,789 | 7,683 |
Land [Member] | Impaired Loans Substandard [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | 16,209 | 23,849 |
Land [Member] | Impaired Loans Doubtful [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | ' | ' |
Non-Residential Real Estate [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | 151,495 | 122,637 |
Specific Allowance for Impairment | 1,573 | 1,240 |
Allowance for Performing Loans | 2,105 | 1,681 |
Non-Residential Real Estate [Member] | Pass [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | 135,008 | 107,947 |
Non-Residential Real Estate [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | 2,183 | 669 |
Non-Residential Real Estate [Member] | Impaired Loans Substandard [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | 14,304 | 14,021 |
Non-Residential Real Estate [Member] | Impaired Loans Doubtful [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | ' | ' |
Farmland [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | 50,908 | 46,799 |
Specific Allowance for Impairment | ' | 184 |
Allowance for Performing Loans | 439 | 528 |
Farmland [Member] | Pass [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | 45,275 | 38,496 |
Farmland [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | 807 | 1,230 |
Farmland [Member] | Impaired Loans Substandard [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | 4,826 | 7,073 |
Farmland [Member] | Impaired Loans Doubtful [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | ' | ' |
Consumer Loans [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | 12,379 | 13,886 |
Specific Allowance for Impairment | 119 | 121 |
Allowance for Performing Loans | 459 | 217 |
Consumer Loans [Member] | Pass [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | 11,839 | 13,330 |
Consumer Loans [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | ' | ' |
Consumer Loans [Member] | Impaired Loans Substandard [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | 540 | 556 |
Consumer Loans [Member] | Impaired Loans Doubtful [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | ' | ' |
Commercial Loans [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | 54,735 | 50,549 |
Specific Allowance for Impairment | 44 | 308 |
Allowance for Performing Loans | 607 | 311 |
Commercial Loans [Member] | Pass [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | 51,893 | 44,191 |
Commercial Loans [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | 96 | 516 |
Commercial Loans [Member] | Impaired Loans Substandard [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | 2,746 | 5,842 |
Commercial Loans [Member] | Impaired Loans Doubtful [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | ' | ' |
Loans_Impaired_Loans_by_Classi
Loans - Impaired Loans by Classification Type (Detail) (USD $) | 9 Months Ended | 12 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Recorded Investment | $31,585 | $49,193 | ' |
Total impaired loans Recorded Investment | 45,277 | 66,604 | 75,800 |
Unpaid Principal Balance | 31,585 | 49,193 | ' |
Total impaired loans Unpaid Principal Balance | 46,523 | 66,604 | ' |
Related Allowance | ' | ' | ' |
Average Recorded Investment | 30,274 | 55,748 | ' |
Interest Income Recognized | 296 | 2,082 | ' |
Recorded Investment | 13,692 | 17,411 | ' |
Unpaid Principal Balance | 14,938 | 17,411 | ' |
Related Allowance | 3,402 | 3,841 | 3,600 |
Related Allowance | 3,402 | 3,841 | 3,600 |
Total impaired loans Average Recorded Investment | 43,059 | 79,264 | ' |
Average Recorded Investment | 12,785 | 23,516 | ' |
Total impaired loans Interest Income Recognized | 348 | 2,837 | ' |
Interest Income Recognized | 52 | 755 | ' |
One-to-Four Family Mortgages [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Recorded Investment | 2,310 | 1,759 | ' |
Unpaid Principal Balance | 2,310 | 1,759 | ' |
Related Allowance | ' | ' | ' |
Average Recorded Investment | 2,087 | 5,279 | ' |
Interest Income Recognized | 4 | 107 | ' |
Recorded Investment | 3,096 | 2,836 | ' |
Unpaid Principal Balance | 3,220 | 2,836 | ' |
Related Allowance | 755 | 754 | ' |
Related Allowance | 755 | 754 | ' |
Average Recorded Investment | 2,701 | 3,135 | ' |
Interest Income Recognized | 26 | 145 | ' |
Home Equity Line of Credit [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Recorded Investment | 602 | 1,169 | ' |
Unpaid Principal Balance | 602 | 1,169 | ' |
Related Allowance | ' | ' | ' |
Average Recorded Investment | 539 | 869 | ' |
Interest Income Recognized | 3 | 50 | ' |
Recorded Investment | 275 | 68 | ' |
Unpaid Principal Balance | 275 | 68 | ' |
Related Allowance | 66 | 76 | ' |
Related Allowance | 66 | 76 | ' |
Average Recorded Investment | 372 | 162 | ' |
Interest Income Recognized | 1 | 3 | ' |
Junior Liens [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Recorded Investment | 2 | ' | ' |
Unpaid Principal Balance | 2 | ' | ' |
Related Allowance | ' | ' | ' |
Average Recorded Investment | 239 | 281 | ' |
Interest Income Recognized | ' | 3 | ' |
Recorded Investment | 367 | 468 | ' |
Unpaid Principal Balance | 367 | 468 | ' |
Related Allowance | 17 | 188 | ' |
Related Allowance | 17 | 188 | ' |
Average Recorded Investment | 151 | 365 | ' |
Interest Income Recognized | 1 | 38 | ' |
Multi-Family [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Recorded Investment | ' | 4,077 | ' |
Unpaid Principal Balance | ' | 4,077 | ' |
Related Allowance | ' | ' | ' |
Average Recorded Investment | 1,321 | 3,626 | ' |
Interest Income Recognized | ' | 219 | ' |
Recorded Investment | ' | 38 | ' |
Unpaid Principal Balance | ' | 38 | ' |
Related Allowance | ' | 38 | ' |
Related Allowance | ' | 38 | ' |
Average Recorded Investment | ' | 2,640 | ' |
Interest Income Recognized | ' | 4 | ' |
Construction [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Recorded Investment | ' | 4,848 | ' |
Unpaid Principal Balance | ' | 4,848 | ' |
Related Allowance | ' | ' | ' |
Average Recorded Investment | 1,371 | 3,133 | ' |
Interest Income Recognized | ' | 174 | ' |
Average Recorded Investment | ' | 1,095 | ' |
Land [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Recorded Investment | 12,663 | 20,279 | ' |
Unpaid Principal Balance | 12,663 | 20,279 | ' |
Related Allowance | ' | ' | ' |
Average Recorded Investment | 10,446 | 19,857 | ' |
Interest Income Recognized | 96 | 504 | ' |
Recorded Investment | 3,546 | 3,570 | ' |
Unpaid Principal Balance | 3,546 | 3,570 | ' |
Related Allowance | 828 | 932 | ' |
Related Allowance | 828 | 932 | ' |
Average Recorded Investment | 4,351 | 4,848 | ' |
Interest Income Recognized | 20 | 213 | ' |
Farmland [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Recorded Investment | 4,826 | 5,701 | ' |
Unpaid Principal Balance | 4,826 | 5,701 | ' |
Related Allowance | ' | ' | ' |
Average Recorded Investment | 4,669 | 5,701 | ' |
Interest Income Recognized | 115 | 202 | ' |
Recorded Investment | ' | 1,372 | ' |
Unpaid Principal Balance | ' | 1,372 | ' |
Related Allowance | ' | 184 | ' |
Related Allowance | ' | 184 | ' |
Average Recorded Investment | 151 | 1,372 | ' |
Interest Income Recognized | ' | 92 | ' |
Non-Residential Real Estate [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Recorded Investment | 8,495 | 9,662 | ' |
Unpaid Principal Balance | 8,495 | 9,662 | ' |
Related Allowance | ' | ' | ' |
Average Recorded Investment | 7,058 | 14,235 | ' |
Interest Income Recognized | 20 | 653 | ' |
Recorded Investment | 5,809 | 4,359 | ' |
Unpaid Principal Balance | 6,842 | 4,359 | ' |
Related Allowance | 1,573 | 1,240 | ' |
Related Allowance | 1,573 | 1,240 | ' |
Average Recorded Investment | 4,150 | 5,206 | ' |
Interest Income Recognized | 3 | 231 | ' |
Consumer Loans [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Recorded Investment | 64 | 81 | ' |
Unpaid Principal Balance | 64 | 81 | ' |
Related Allowance | ' | ' | ' |
Average Recorded Investment | 44 | 66 | ' |
Interest Income Recognized | 7 | 5 | ' |
Recorded Investment | 476 | 475 | ' |
Unpaid Principal Balance | 476 | 475 | ' |
Related Allowance | 119 | 121 | ' |
Related Allowance | 119 | 121 | ' |
Average Recorded Investment | 373 | 223 | ' |
Interest Income Recognized | ' | 1 | ' |
Commercial Loans [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Recorded Investment | 2,623 | 1,617 | ' |
Unpaid Principal Balance | 2,623 | 1,617 | ' |
Related Allowance | ' | ' | ' |
Average Recorded Investment | 2,500 | 2,701 | ' |
Interest Income Recognized | 51 | 165 | ' |
Recorded Investment | 123 | 4,225 | ' |
Unpaid Principal Balance | 212 | 4,225 | ' |
Related Allowance | 44 | 308 | ' |
Related Allowance | 44 | 308 | ' |
Average Recorded Investment | 536 | 4,470 | ' |
Interest Income Recognized | $1 | $28 | ' |
Loans_Companys_Loans_Classifie
Loans - Company's Loans Classified as Troubled Debt Restructurings (TDR's) (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Modifications [Line Items] | ' | ' |
Total TDR | ' | $14,069 |
TDR in non-accrual status | ' | -3,031 |
Total performing TDR | ' | 11,038 |
One-to-Four Family Mortgages [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Total TDR | ' | 1,888 |
TDR in non-accrual status | ' | ' |
Home Equity Line of Credit [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Total TDR | ' | ' |
TDR in non-accrual status | ' | ' |
Junior Liens [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Total TDR | ' | 196 |
TDR in non-accrual status | ' | -100 |
Multi-Family [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Total TDR | ' | 234 |
TDR in non-accrual status | ' | ' |
Construction [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Total TDR | ' | 4,112 |
TDR in non-accrual status | ' | ' |
Land [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Total TDR | ' | 3,424 |
TDR in non-accrual status | ' | -2,768 |
Non-Residential Real Estate [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Total TDR | ' | 3,173 |
TDR in non-accrual status | ' | -44 |
Farmland [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Total TDR | ' | 909 |
TDR in non-accrual status | ' | ' |
Consumer Loans [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Total TDR | ' | 5 |
TDR in non-accrual status | ' | ' |
Commercial Loans [Member] | ' | ' |
Financing Receivable, Modifications [Line Items] | ' | ' |
Total TDR | ' | 128 |
TDR in non-accrual status | ' | ($119) |
Real_Estate_and_Other_Assets_O2
Real Estate and Other Assets Owned - Additional Information (Detail) (USD $) | 9 Months Ended |
Sep. 30, 2013 | |
Banking And Thrift [Abstract] | ' |
Minimum book balance for appraisal on all real estate owned | $250,000 |
Real_Estate_and_Other_Assets_O3
Real Estate and Other Assets Owned - Presentation of Balances in Other Real Estate and Assets Owned Consisting Other Non-Performing Loan (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | ||||
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' | ' | ' |
Total other real estate owned | $1,439 | $1,548 | $681 | $2,267 |
Total non-accrual loans | 12,128 | 7,663 | 9,824 | ' |
Total non-performing assets | 13,567 | 9,211 | 10,505 | ' |
Non-performing assets / Total assets | 1.45% | 0.95% | 1.05% | ' |
One-to-Four Family Mortgages [Member] | ' | ' | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' | ' | ' |
Total other real estate owned | 252 | 258 | 147 | 480 |
Total non-accrual loans | 865 | 2,243 | 2,795 | ' |
Multi-Family [Member] | ' | ' | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' | ' | ' |
Total other real estate owned | ' | ' | ' | 905 |
Total non-accrual loans | ' | 38 | 190 | ' |
Construction [Member] | ' | ' | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' | ' | ' |
Total other real estate owned | ' | 130 | 216 | 465 |
Total non-accrual loans | ' | ' | ' | ' |
Land [Member] | ' | ' | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' | ' | ' |
Total other real estate owned | 1,112 | 1,112 | 275 | 248 |
Total non-accrual loans | 2,257 | 2,768 | 3,279 | ' |
Non-Residential Real Estate [Member] | ' | ' | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' | ' | ' |
Total other real estate owned | 73 | 44 | 43 | 160 |
Total non-accrual loans | 7,187 | 1,134 | 1,268 | ' |
Consumer Assets [Member] | ' | ' | ' | ' |
Noncancelable Obligations Future Minimum Payments Due [Line Items] | ' | ' | ' | ' |
Total other real estate owned | $2 | $4 | ' | $9 |
Real_Estate_and_Other_Assets_O4
Real Estate and Other Assets Owned - Summary of Activity in Company's Real Estate and Other Assets Owned (Detail) (USD $) | 9 Months Ended | 12 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Beginning balance | $1,548 | $2,267 | $681 |
Foreclosures | 797 | 2,285 | ' |
Proceeds | -913 | -2,738 | ' |
Reduction in Values | -133 | -189 | ' |
Gain (Loss) on Sale | 140 | -77 | ' |
Ending balance | 1,439 | 1,548 | 681 |
One-to-Four Family Mortgages [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Beginning balance | 258 | 480 | 147 |
Foreclosures | 750 | 983 | ' |
Proceeds | -782 | -1,084 | ' |
Reduction in Values | -8 | -92 | ' |
Gain (Loss) on Sale | 34 | -29 | ' |
Ending balance | 252 | 258 | 147 |
Multi-Family [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Beginning balance | ' | 905 | ' |
Foreclosures | ' | ' | ' |
Proceeds | ' | -875 | ' |
Reduction in Values | ' | ' | ' |
Gain (Loss) on Sale | ' | -30 | ' |
Ending balance | ' | ' | ' |
Construction [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Beginning balance | 130 | 465 | 216 |
Foreclosures | ' | ' | ' |
Proceeds | -110 | -321 | ' |
Reduction in Values | -110 | ' | ' |
Gain (Loss) on Sale | 90 | -14 | ' |
Ending balance | ' | 130 | 216 |
Land [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Beginning balance | 1,112 | 248 | 275 |
Foreclosures | ' | 1,229 | ' |
Proceeds | ' | -269 | ' |
Reduction in Values | ' | -77 | ' |
Gain (Loss) on Sale | ' | -19 | ' |
Ending balance | 1,112 | 1,112 | 275 |
Non-Residential Real Estate [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Beginning balance | 44 | 160 | 43 |
Foreclosures | 40 | 64 | ' |
Proceeds | -18 | -178 | ' |
Reduction in Values | -11 | -20 | ' |
Gain (Loss) on Sale | 18 | 18 | ' |
Ending balance | 73 | 44 | 43 |
Consumer Assets [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Beginning balance | 4 | 9 | ' |
Foreclosures | 7 | 9 | ' |
Proceeds | -3 | -11 | ' |
Reduction in Values | -4 | ' | ' |
Gain (Loss) on Sale | -2 | -3 | ' |
Ending balance | $2 | $4 | ' |
Investments_in_Affiliated_Comp2
Investments in Affiliated Companies - Additional Information (Detail) (Subsidiaries [Member]) | Sep. 30, 2013 |
Subsidiaries [Member] | ' |
Schedule of Investments [Line Items] | ' |
Percent of common stock of HopFed Bancorp, Inc. | 100.00% |
Investments_in_Affiliated_Comp3
Investments in Affiliated Companies - Summary Statements of Financial Condition (Detail) (Subsidiaries [Member], USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Investment In Affiliates [Line Items] | ' | ' |
Assets - investment in subordinated debentures issued by HopFed Bancorp, Inc. | $10,310 | $10,310 |
Liabilities | ' | ' |
Total stockholders' equity | 10,310 | 10,310 |
Trust Preferred Securities [Member] | ' | ' |
Liabilities | ' | ' |
Total stockholders' equity | 10,000 | 10,000 |
Common Stock [Member] | ' | ' |
Liabilities | ' | ' |
Total stockholders' equity | $310 | $310 |
Investments_in_Affiliated_Comp4
Investments in Affiliated Companies - Summary of Statement of Income (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Other Items Net Interest And Other Financial Income [Line Items] | ' | ' | ' | ' |
Income - interest income from subordinated debentures issued by HopFed Bancorp, Inc. | $8,795 | $9,996 | $27,094 | $31,155 |
Subsidiaries [Member] | ' | ' | ' | ' |
Other Items Net Interest And Other Financial Income [Line Items] | ' | ' | ' | ' |
Income - interest income from subordinated debentures issued by HopFed Bancorp, Inc. | 88 | 93 | 264 | 282 |
Net income | $88 | $93 | $264 | $282 |
Investments_in_Affiliated_Comp5
Investments in Affiliated Companies - Summary of Statement of Stockholders' Equity (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 9 Months Ended | |||||||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | |
Trust Preferred Securities [Member] | Trust Preferred Securities [Member] | Common Stock [Member] | Common Stock [Member] | Retained Earnings [Member] | Subsidiaries [Member] | |||||
Schedule Of Investments In Equity Method Affiliates [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Beginning balance | ' | ' | $104,999,000 | ' | $10,000,000 | $10,000,000 | $310,000 | $310,000 | ' | $10,310,000 |
Net income | 536,000 | 819,000 | 2,686,000 | 2,192,000 | ' | ' | ' | ' | 264,000 | 264,000 |
Dividends: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Trust preferred securities | ' | -229,000 | ' | -689,000 | ' | ' | ' | ' | -256,000 | -256,000 |
Common paid to HopFed Bancorp, Inc. | ' | ' | -599,000 | ' | ' | ' | ' | ' | -8,000 | -8,000 |
Ending balance | $96,718,000 | ' | $96,718,000 | ' | $10,000,000 | $10,000,000 | $310,000 | $310,000 | ' | $10,310,000 |
Fair_Value_of_Assets_and_Liabi2
Fair Value of Assets and Liabilities - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Assets | ' | ' |
Available for sale securities | $322,776 | $356,345 |
Fair Value, Measurements, Recurring [Member] | ' | ' |
Assets | ' | ' |
Available for sale securities | 322,776 | 356,345 |
Bank owned life insurance | 9,574 | 9,323 |
Liabilities | ' | ' |
Interest rate swap | 848 | 1,126 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ' | ' |
Assets | ' | ' |
Available for sale securities | ' | ' |
Bank owned life insurance | ' | ' |
Liabilities | ' | ' |
Interest rate swap | ' | ' |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Fair Value, Measurements, Recurring [Member] | ' | ' |
Assets | ' | ' |
Available for sale securities | ' | ' |
Bank owned life insurance | ' | ' |
Liabilities | ' | ' |
Interest rate swap | ' | ' |
Significant Other Observable Inputs (Level 2) [Member] | ' | ' |
Assets | ' | ' |
Available for sale securities | 321,287 | 354,856 |
Bank owned life insurance | 9,574 | 9,323 |
Liabilities | ' | ' |
Interest rate swap | 848 | 1,126 |
Significant Other Observable Inputs (Level 2) [Member] | Fair Value, Measurements, Recurring [Member] | ' | ' |
Assets | ' | ' |
Available for sale securities | 321,287 | 354,856 |
Bank owned life insurance | 9,574 | 9,323 |
Liabilities | ' | ' |
Interest rate swap | 848 | 1,126 |
Significant Unobservable Inputs (Level 3) [Member] | ' | ' |
Assets | ' | ' |
Available for sale securities | 1,489 | 1,489 |
Bank owned life insurance | ' | ' |
Liabilities | ' | ' |
Interest rate swap | ' | ' |
Significant Unobservable Inputs (Level 3) [Member] | Fair Value, Measurements, Recurring [Member] | ' | ' |
Assets | ' | ' |
Available for sale securities | 1,489 | 1,489 |
Bank owned life insurance | ' | ' |
Liabilities | ' | ' |
Interest rate swap | ' | ' |
Fair_Value_of_Assets_and_Liabi3
Fair Value of Assets and Liabilities - Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | ||||
Assets | ' | ' | ' | ' |
Other real estate owned | $1,439 | $1,548 | $681 | $2,267 |
Fair Value, Measurements, Nonrecurring [Member] | ' | ' | ' | ' |
Assets | ' | ' | ' | ' |
Other real estate owned | 1,437 | 1,544 | ' | ' |
Other assets owned | 2 | 4 | ' | ' |
Impaired loans, net of reserve | 41,875 | 62,763 | ' | ' |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Fair Value, Measurements, Nonrecurring [Member] | ' | ' | ' | ' |
Assets | ' | ' | ' | ' |
Other real estate owned | ' | ' | ' | ' |
Other assets owned | ' | ' | ' | ' |
Impaired loans, net of reserve | ' | ' | ' | ' |
Significant Other Observable Inputs (Level 2) [Member] | Fair Value, Measurements, Nonrecurring [Member] | ' | ' | ' | ' |
Assets | ' | ' | ' | ' |
Other real estate owned | ' | ' | ' | ' |
Other assets owned | ' | ' | ' | ' |
Impaired loans, net of reserve | ' | ' | ' | ' |
Significant Unobservable Inputs (Level 3) [Member] | Fair Value, Measurements, Nonrecurring [Member] | ' | ' | ' | ' |
Assets | ' | ' | ' | ' |
Other real estate owned | 1,437 | 1,544 | ' | ' |
Other assets owned | 2 | 4 | ' | ' |
Impaired loans, net of reserve | $41,875 | $62,763 | ' | ' |
Fair_Value_of_Assets_and_Liabi4
Fair Value of Assets and Liabilities - Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis (Parenthetical) (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 |
In Thousands, unless otherwise specified | |||
Fair Value Assets And Liabilities Measured On Nonrecurring Basis [Line Items] | ' | ' | ' |
Impaired loans, net of reserve | $3,402 | $3,841 | $3,600 |
Fair Value, Measurements, Nonrecurring [Member] | ' | ' | ' |
Fair Value Assets And Liabilities Measured On Nonrecurring Basis [Line Items] | ' | ' | ' |
Impaired loans, net of reserve | $3,402 | $3,841 | ' |
Fair_Value_of_Assets_and_Liabi5
Fair Value of Assets and Liabilities - Roll-Forward of the Consolidated Condensed Statement of Financial Condition Items (Detail) (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Other Assets [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Fair value, January 1, | $1,489 | $993 |
Change in unrealized losses included in other comprehensive income for assets and liabilities still held at September 30, | ' | 429 |
Purchases, issuances and settlements, net | ' | ' |
Transfers in and/or out of Level 3 | ' | ' |
Fair value, September 30, | 1,489 | 1,422 |
Other Liabilities [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Fair value, January 1, | ' | ' |
Change in unrealized losses included in other comprehensive income for assets and liabilities still held at September 30, | ' | ' |
Purchases, issuances and settlements, net | ' | ' |
Transfers in and/or out of Level 3 | ' | ' |
Fair value, September 30, | ' | ' |
Fair_Value_of_Assets_and_Liabi6
Fair Value of Assets and Liabilities - Estimated Fair Values of Financial Instruments (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Financial Assets: | ' | ' |
Securities available for sale | $322,776 | $356,345 |
Financial liabilities: | ' | ' |
Repurchase agreements | 32,200 | ' |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ' | ' |
Financial Assets: | ' | ' |
Cash and due from banks | 24,566 | 31,563 |
Interest-earning deposits | 3,777 | 5,613 |
Securities available for sale | ' | ' |
Federal Home Loan Bank stock | ' | ' |
Loans receivable | ' | ' |
Accrued interest receivable | ' | ' |
Bank owned life insurance | ' | ' |
Financial liabilities: | ' | ' |
Deposits | ' | ' |
Advances from borrowers for taxes and insurance | ' | ' |
Advances from Federal Home Loan Bank | ' | ' |
Repurchase agreements | ' | ' |
Subordinated debentures | ' | ' |
Off-balance-sheet liabilities: | ' | ' |
Commitments to extend credit | ' | ' |
Commercial letters of credit | ' | ' |
Market value of interest rate swap | ' | ' |
Significant Other Observable Inputs (Level 2) [Member] | ' | ' |
Financial Assets: | ' | ' |
Cash and due from banks | ' | ' |
Interest-earning deposits | ' | ' |
Securities available for sale | 321,287 | 354,856 |
Federal Home Loan Bank stock | 4,428 | 4,428 |
Loans receivable | ' | ' |
Accrued interest receivable | 5,042 | 5,398 |
Bank owned life insurance | 9,574 | 9,323 |
Financial liabilities: | ' | ' |
Deposits | 726,116 | 756,426 |
Advances from borrowers for taxes and insurance | 822 | 396 |
Advances from Federal Home Loan Bank | 46,168 | 49,293 |
Repurchase agreements | 49,161 | 44,779 |
Subordinated debentures | ' | ' |
Off-balance-sheet liabilities: | ' | ' |
Commitments to extend credit | ' | ' |
Commercial letters of credit | ' | ' |
Market value of interest rate swap | 848 | 1,126 |
Significant Unobservable Inputs (Level 3) [Member] | ' | ' |
Financial Assets: | ' | ' |
Cash and due from banks | ' | ' |
Interest-earning deposits | ' | ' |
Securities available for sale | 1,489 | 1,489 |
Federal Home Loan Bank stock | ' | ' |
Loans receivable | 535,651 | 532,040 |
Accrued interest receivable | ' | ' |
Bank owned life insurance | ' | ' |
Financial liabilities: | ' | ' |
Deposits | ' | ' |
Advances from borrowers for taxes and insurance | ' | ' |
Advances from Federal Home Loan Bank | ' | ' |
Repurchase agreements | ' | ' |
Subordinated debentures | 10,091 | 10,092 |
Off-balance-sheet liabilities: | ' | ' |
Commitments to extend credit | ' | ' |
Commercial letters of credit | ' | ' |
Market value of interest rate swap | ' | ' |
Carrying Amount [Member] | ' | ' |
Financial Assets: | ' | ' |
Cash and due from banks | 24,566 | 31,563 |
Interest-earning deposits | 3,777 | 5,613 |
Securities available for sale | 322,776 | 356,345 |
Federal Home Loan Bank stock | 4,428 | 4,428 |
Loans receivable | 532,013 | 524,985 |
Accrued interest receivable | 5,042 | 5,398 |
Bank owned life insurance | 9,574 | 9,323 |
Financial liabilities: | ' | ' |
Deposits | 726,937 | 759,865 |
Advances from borrowers for taxes and insurance | 822 | 396 |
Advances from Federal Home Loan Bank | 47,276 | 43,741 |
Repurchase agreements | 48,182 | 43,508 |
Subordinated debentures | 10,310 | 10,310 |
Off-balance-sheet liabilities: | ' | ' |
Commitments to extend credit | ' | ' |
Commercial letters of credit | ' | ' |
Market value of interest rate swap | 848 | 1,126 |
Estimated Fair Value [Member] | ' | ' |
Financial Assets: | ' | ' |
Cash and due from banks | 24,566 | 31,563 |
Interest-earning deposits | 3,777 | 5,613 |
Securities available for sale | 322,776 | 356,345 |
Federal Home Loan Bank stock | 4,428 | 4,428 |
Loans receivable | 535,651 | 532,040 |
Accrued interest receivable | 5,042 | 5,398 |
Bank owned life insurance | 9,574 | 9,323 |
Financial liabilities: | ' | ' |
Deposits | 726,116 | 756,426 |
Advances from borrowers for taxes and insurance | 822 | 396 |
Advances from Federal Home Loan Bank | 46,168 | 49,293 |
Repurchase agreements | 49,161 | 44,779 |
Subordinated debentures | 10,091 | 10,092 |
Off-balance-sheet liabilities: | ' | ' |
Commitments to extend credit | ' | ' |
Commercial letters of credit | ' | ' |
Market value of interest rate swap | $848 | $1,126 |
Participation_in_the_United_St1
Participation in the United States of America Treasury Department's Capital Purchase Program - Additional Information (Detail) (Parent [Member], USD $) | 1 Months Ended | 9 Months Ended | |
Dec. 31, 2008 | Sep. 30, 2013 | Jan. 16, 2013 | |
Preferred Units [Line Items] | ' | ' | ' |
Number of common stock warrants issued under Capital Purchase Program | 253,667 | ' | ' |
Exercise price of common stock warrants issued under Capital Purchase Program | $10.88 | ' | ' |
Expiration date of common stock warrants issued under Capital Purchase Program | ' | 31-Dec-18 | ' |
Percentage of cumulative dividends of preferred stock paid annually | ' | 5.00% | ' |
First specified period for cumulative dividends of preferred stock | ' | '5 years | ' |
Cumulative dividends quarterly thereafter | ' | 9.00% | ' |
Warrants repurchased | ' | ' | $256,257 |
Preferred Stock [Member] | ' | ' | ' |
Preferred Units [Line Items] | ' | ' | ' |
Preferred stock shares issued and sold | 18,400 | ' | ' |
Value of shares of preferred stock issued and sold | $18,400,000 | ' | ' |
Stock_Options_Additional_Infor
Stock Options - Additional Information (Detail) (1999 Stock Option Plan [Member], USD $) | 9 Months Ended |
Sep. 30, 2013 | |
1999 Stock Option Plan [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Fully vested remaining stock options | 20,808 |
Option exercise price | $16.67 |
Final maturity date | 1-Jun-14 |
Derivative_Instruments_Additio
Derivative Instruments - Additional Information (Detail) (USD $) | 1 Months Ended | 9 Months Ended | 12 Months Ended |
Oct. 31, 2008 | Sep. 30, 2013 | Dec. 31, 2012 | |
Debt Disclosure [Abstract] | ' | ' | ' |
Hedging gains or losses, fair value | ' | $0 | $0 |
Duration of interest rate swap agreement | '7 years | ' | ' |
Interest rate swap amount | 10,000,000 | ' | ' |
Fixed rate of interest rate swap agreement to be paid | ' | 7.27% | ' |
Interest rate to be received under swap agreement | ' | 'Three-month London Interbank Lending Rate (LIBOR) plus 3.10%. | ' |
LIBOR | ' | 3.10% | ' |
Cost of termination of cash flow hedge | ' | $848,000 | $1,126,000 |
Regulatory_Changes_Additional_
Regulatory Changes - Additional Information (Detail) | 9 Months Ended |
Sep. 30, 2013 | |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' |
New minimum ratio of common equity tier 1 capital | 16.40% |
Percentage of capital conservation buffer | 2.50% |
Tier one risk based capital to risk weighted assets previous | 4.00% |
Tier one risk based capital to risk weighted assets | 18.10% |
Minimum leverage ratio for all banking organizations | 4.00% |
Transition period for implementation of Basel III | 'January 1, 2015, through December 31, 2018 |
Minimum [Member] | ' |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' |
New minimum ratio of common equity tier 1 capital | 4.50% |
Tier one risk based capital to risk weighted assets | 6.00% |
Regulatory_Changes_Companys_An
Regulatory Changes - Company's Analysis of Its Capital Position as Compared to the Basel III Requirements (Detail) (USD $) | Sep. 30, 2013 |
In Thousands, unless otherwise specified | |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' |
Common Equity Tier 1 Capital Ratio, Amount | $96,461 |
Tier 1 Capital Ratio to Risk Weighted Assets, Amount | 106,461 |
Minimum Total Capital Ratio to Risk Weighted Assets, Amount | 113,818 |
Common Equity Tier 1 Capital Ratio, Ratio | 16.40% |
Tier 1 Capital Ratio to Risk Weighted Assets, Ratio | 18.10% |
Minimum Total Capital Ratio to Risk Weighted Assets, Ratio | 19.30% |
Consolidated [Member] | Heritage Bank [Member] | ' |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' |
Common Equity Tier 1 Capital Ratio, Amount | 100,371 |
Tier 1 Capital Ratio to Risk Weighted Assets, Amount | 100,371 |
Minimum Total Capital Ratio to Risk Weighted Assets, Amount | 107,728 |
Common Equity Tier 1 Capital Ratio, Ratio | 17.10% |
Tier 1 Capital Ratio to Risk Weighted Assets, Ratio | 17.10% |
Minimum Total Capital Ratio to Risk Weighted Assets, Ratio | 18.40% |
Minimum [Member] | ' |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' |
Common Equity Tier 1 Capital Ratio, Amount | 26,495 |
Tier 1 Capital Ratio to Risk Weighted Assets, Amount | 35,327 |
Minimum Total Capital Ratio to Risk Weighted Assets, Amount | 47,103 |
Common Equity Tier 1 Capital Ratio, Ratio | 4.50% |
Tier 1 Capital Ratio to Risk Weighted Assets, Ratio | 6.00% |
Minimum Total Capital Ratio to Risk Weighted Assets, Ratio | 8.00% |
Minimum [Member] | Consolidated [Member] | Heritage Bank [Member] | ' |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' |
Common Equity Tier 1 Capital Ratio, Amount | 26,402 |
Tier 1 Capital Ratio to Risk Weighted Assets, Amount | 35,203 |
Minimum Total Capital Ratio to Risk Weighted Assets, Amount | 46,937 |
Common Equity Tier 1 Capital Ratio, Ratio | 4.50% |
Tier 1 Capital Ratio to Risk Weighted Assets, Ratio | 6.00% |
Minimum Total Capital Ratio to Risk Weighted Assets, Ratio | 8.00% |
Minimum Including Buffer [Member] | ' |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' |
Common Equity Tier 1 Capital Ratio, Amount | 41,215 |
Tier 1 Capital Ratio to Risk Weighted Assets, Amount | 50,047 |
Minimum Total Capital Ratio to Risk Weighted Assets, Amount | 61,823 |
Common Equity Tier 1 Capital Ratio, Ratio | 7.00% |
Tier 1 Capital Ratio to Risk Weighted Assets, Ratio | 8.50% |
Minimum Total Capital Ratio to Risk Weighted Assets, Ratio | 10.50% |
Minimum Including Buffer [Member] | Consolidated [Member] | Heritage Bank [Member] | ' |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' |
Common Equity Tier 1 Capital Ratio, Amount | 41,070 |
Tier 1 Capital Ratio to Risk Weighted Assets, Amount | 49,870 |
Minimum Total Capital Ratio to Risk Weighted Assets, Amount | $61,605 |
Common Equity Tier 1 Capital Ratio, Ratio | 7.00% |
Tier 1 Capital Ratio to Risk Weighted Assets, Ratio | 8.50% |
Minimum Total Capital Ratio to Risk Weighted Assets, Ratio | 10.50% |
Income_Taxes_Additional_Inform
Income Taxes - Additional Information (Detail) (USD $) | 9 Months Ended |
Sep. 30, 2013 | |
Income Tax Disclosure [Abstract] | ' |
Statutory federal tax rate | 35.00% |
Tennessee excise tax rate | 6.50% |
Unrecognized tax benefits | $0 |
Accrued interest and penalties for uncertain tax positions | $0 |
Termination_of_Merger_Agreemen1
Termination of Merger Agreement - Additional Information (Detail) (USD $) | 3 Months Ended |
Sep. 30, 2013 | |
Business Combinations [Abstract] | ' |
Expense incurred related to the termination of the merger | $150,000 |