Document_and_Entity_Informatio
Document and Entity Information | 3 Months Ended | |
Mar. 31, 2014 | 5-May-14 | |
Document And Entity Information [Abstract] | ' | ' |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 31-Mar-14 | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q1 | ' |
Entity Registrant Name | 'HOPFED BANCORP INC | ' |
Entity Central Index Key | '0001041550 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Accelerated Filer | ' |
Entity Common Stock, Shares Outstanding | ' | 7,419,885 |
Consolidated_Condensed_Stateme
Consolidated Condensed Statements of Financial Condition (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Assets | ' | ' |
Cash and due from banks | $25,449 | $37,229 |
Interest-earning deposits | 8,730 | 18,619 |
Cash and cash equivalents | 34,179 | 55,848 |
Federal Home Loan Bank stock, at cost | 4,428 | 4,428 |
Securities available for sale | 341,538 | 318,910 |
Loans held for sale | 152 | ' |
Loans receivable, net of allowance for loan losses of $8,913 at March 31, 2014, and $8,682 at December 31, 2013 | 535,951 | 543,632 |
Accrued interest receivable | 4,447 | 5,233 |
Real estate and other assets owned | 1,680 | 1,674 |
Bank owned life insurance | 9,764 | 9,677 |
Premises and equipment, net | 23,063 | 23,108 |
Deferred tax assets | 3,327 | 4,610 |
Intangible asset | 97 | 130 |
Other assets | 6,398 | 6,399 |
Total assets | 965,024 | 973,649 |
Deposits: | ' | ' |
Non-interest-bearing accounts | 105,848 | 105,252 |
Interest-bearing accounts | ' | ' |
Interest bearing checking accounts | 190,804 | 183,643 |
Savings and money market accounts | 93,780 | 92,106 |
Other time deposits | 371,094 | 381,996 |
Total deposits | 761,526 | 762,997 |
Advances from Federal Home Loan Bank | 41,280 | 46,780 |
Repurchase agreements | 50,129 | 52,759 |
Subordinated debentures | 10,310 | 10,310 |
Advances from borrowers for taxes and insurance | 572 | 521 |
Dividends payable | 309 | 326 |
Accrued expenses and other liabilities | 3,385 | 4,239 |
Total liabilities | 867,511 | 877,932 |
Stockholders' equity | ' | ' |
Preferred stock, par value $0.01 per share; authorized - 500,000 shares; no shares issued and outstanding at March 31, 2014, and December 31, 2013. | ' | ' |
Common stock, par value $.01 per share; authorized 15,000,000 shares; 7,927,287 issued and 7,437,517 outstanding at March 31, 2014, and 7,927,287 issued and 7,447,903 outstanding at December 31, 2013 | 79 | 79 |
Additional paid-in-capital | 58,333 | 58,302 |
Retained earnings | 44,753 | 44,694 |
Accumulated other comprehensive income (loss), net of taxes | 397 | -1,429 |
Total stockholders' equity | 97,513 | 95,717 |
Total liabilities and stockholders' equity | 965,024 | 973,649 |
Common Stock [Member] | ' | ' |
Stockholders' equity | ' | ' |
Treasury stock | -6,049 | -5,929 |
Total stockholders' equity | $79 | $79 |
Consolidated_Condensed_Stateme1
Consolidated Condensed Statements of Financial Condition (Parenthetical) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, except Share data, unless otherwise specified | ||
Loans receivable, allowance for loan losses | $8,913 | $8,682 |
Preferred stock, par value | $0.01 | $0.01 |
Preferred stock, shares authorized | 500,000 | 500,000 |
Preferred stock, shares issued | 0 | 0 |
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 | 7,927,287 |
Common stock, shares outstanding | 7,437,517 | 7,447,903 |
Common Stock [Member] | ' | ' |
Treasury stock, shares | 489,770 | 479,384 |
Consolidated_Condensed_Stateme2
Consolidated Condensed Statements of Income (USD $) | 3 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Interest and dividend income: | ' | ' |
Loans receivable | $6,327 | $6,882 |
Investment in securities, taxable | 1,779 | 1,832 |
Investment in securities, non-taxable | 544 | 585 |
Interest-earning deposits | 8 | 6 |
Total interest and dividend income | 8,658 | 9,305 |
Interest expense: | ' | ' |
Deposits | 1,471 | 2,046 |
Advances from Federal Home Loan Bank | 434 | 444 |
Repurchase agreements | 249 | 242 |
Subordinated debentures | 184 | 182 |
Total interest expense | 2,338 | 2,914 |
Net interest income | 6,320 | 6,391 |
Provision for loan losses | 380 | 376 |
Net interest income after provision for loan losses | 5,940 | 6,015 |
Non-interest income: | ' | ' |
Service charges | 778 | 853 |
Merchant card income | 259 | 223 |
Mortgage origination revenue | 58 | 200 |
Gain on sale of securities | 13 | 627 |
Income from bank owned life insurance | 95 | 75 |
Financial services commission | 206 | 297 |
Other operating income | 189 | 208 |
Total non-interest income | 1,598 | 2,483 |
Non-interest expenses: | ' | ' |
Salaries and benefits | 3,795 | 3,848 |
Occupancy expense | 909 | 845 |
Data processing expense | 728 | 650 |
State deposit tax | 246 | 142 |
Intangible amortization expense | 32 | 49 |
Professional services expense | 287 | 393 |
Deposit insurance and examination expense | 197 | 232 |
Advertising expense | 314 | 333 |
Postage and communications expense | 143 | 139 |
Supplies expense | 145 | 136 |
Loss on sale of real estate owned | 23 | 35 |
Real estate owned expenses | 130 | 76 |
Other operating expenses | 375 | 396 |
Total non-interest expense | 7,324 | 7,274 |
Income before income tax expense | 214 | 1,224 |
Income tax expense | -140 | 240 |
Net income | $354 | $984 |
Net income per share | ' | ' |
Basic | $0.05 | $0.13 |
Fully diluted | $0.05 | $0.13 |
Dividend per share | $0.04 | $0.02 |
Weighted average shares outstanding - basic | 7,416,716 | 7,488,445 |
Weighted average shares outstanding - diluted | 7,416,716 | 7,488,445 |
Consolidated_Condensed_Stateme3
Consolidated Condensed Statements of Comprehensive Income (Loss) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Statement Of Income And Comprehensive Income [Abstract] | ' | ' |
Net income | $354 | $984 |
Other comprehensive income, net of tax: | ' | ' |
Unrealized gain (loss) on investment securities available for sale, net of tax effect of ($920) and $598 for the three months ended March 31, 2014, and March 31, 2013, respectively; | 1,786 | -1,161 |
Unrealized gain on derivatives, net of tax effect of ($25) and ($32) for the three month periods ending March 31, 2014, and March 31, 2013, respectively; | 49 | 63 |
Reclassification adjustment for gains included in net income, net of tax effect of $4 and $213 for the three month periods ended March 31, 2014, and March 31, 2013, respectively; | -9 | -414 |
Comprehensive income (loss) | $2,180 | ($528) |
Consolidated_Condensed_Stateme4
Consolidated Condensed Statements of Comprehensive Income (Loss) (Parenthetical) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Statement Of Income And Comprehensive Income [Abstract] | ' | ' |
Unrealized gain (loss) on investment securities available for sale, tax effect | ($920) | $598 |
Unrealized gain on derivatives, tax effect | -25 | -32 |
Reclassification adjustment for gains included in net income, tax effect | $4 | $213 |
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 |
Balance balance, shares at Dec. 31, 2012 | ' | 7,502,812 | 18,400 | ' | ' | ' | ' | ' | ' |
Restricted stock awards, shares | ' | 227 | ' | ' | ' | ' | ' | ' | ' |
Consolidated Net income | 984 | ' | ' | ' | ' | 984 | ' | ' | ' |
Compensation expense, restricted stock awards | 22 | ' | ' | ' | 22 | ' | ' | ' | ' |
Net change in unrealized gain on securities available for sale, net of income taxes | -1,575 | ' | ' | ' | ' | ' | ' | ' | -1,575 |
Net change in unrealized loss on derivatives, net of income tax benefit | 63 | ' | ' | ' | ' | ' | ' | ' | 63 |
Repurchase of warrant | -257 | ' | ' | -556 | 299 | ' | ' | ' | ' |
Cash dividend to common stockholders | -150 | ' | ' | ' | ' | -150 | ' | ' | ' |
Ending balance at Mar. 31, 2013 | 104,086 | 79 | ' | ' | 76,609 | 42,663 | -18,400 | -5,076 | 8,211 |
Ending balance, shares at Mar. 31, 2013 | ' | 7,503,039 | 18,400 | ' | ' | ' | ' | ' | ' |
Beginning balance at Dec. 31, 2013 | 95,717 | 79 | ' | ' | 58,302 | 44,694 | ' | -5,929 | -1,429 |
Balance balance, shares at Dec. 31, 2013 | ' | 7,447,903 | ' | ' | ' | ' | ' | ' | ' |
Consolidated Net income | 354 | ' | ' | ' | ' | 354 | ' | ' | ' |
Repurchase of treasury stock | -120 | ' | ' | ' | ' | ' | ' | -120 | ' |
Repurchase of treasury stock, Shares | ' | -10,386 | ' | ' | ' | ' | ' | ' | ' |
Compensation expense, restricted stock awards | 31 | ' | ' | ' | 31 | ' | ' | ' | ' |
Net change in unrealized gain on securities available for sale, net of income taxes | 1,777 | ' | ' | ' | ' | ' | ' | ' | 1,777 |
Net change in unrealized loss on derivatives, net of income tax benefit | 49 | ' | ' | ' | ' | ' | ' | ' | 49 |
Cash dividend to common stockholders | -295 | ' | ' | ' | ' | -295 | ' | ' | ' |
Ending balance at Mar. 31, 2014 | $97,513 | $79 | ' | ' | $58,333 | $44,753 | ' | ($6,049) | $397 |
Ending balance, shares at Mar. 31, 2014 | ' | 7,437,517 | ' | ' | ' | ' | ' | ' | ' |
Consolidated_Condensed_Stateme6
Consolidated Condensed Statement of Stockholders' Equity (Parenthetical) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Net change in unrealized gain on securities available for sale, net of income taxes | ($916) | $811 |
Net change in unrealized loss on derivatives, net of income tax benefit | 25 | 32 |
Accumulated Other Comprehensive Income [Member] | ' | ' |
Net change in unrealized gain on securities available for sale, net of income taxes | -916 | 811 |
Net change in unrealized loss on derivatives, net of income tax benefit | $25 | $32 |
Consolidated_Condensed_Stateme7
Consolidated Condensed Statements of Cash Flows (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Cash flows from operating activities: | ' | ' |
Net cash provided by operating activities | $1,864 | $2,903 |
Cash flows from investing activities | ' | ' |
Proceeds from sales, calls and maturities of securities available for sale | 16,463 | 41,814 |
Purchase of securities available for sale | -36,904 | -40,938 |
Net (increase) decrease in loans | 7,068 | -6,396 |
Proceeds from sale of foreclosed assets | 137 | 110 |
Purchase of premises and equipment | -332 | -49 |
Net cash used in investing activities | -13,568 | -5,459 |
Cash flows from financing activities: | ' | ' |
Net increase in demand deposits | 596 | 6,222 |
Net increase (decrease) in time and other deposits | -2,067 | 11,467 |
Increase in advances from borrowers for taxes and insurance | 51 | 85 |
Repayment of advances from Federal Home Loan Bank | -5,500 | -484 |
Net decrease in repurchase agreements | -2,630 | -3,023 |
Cash used to repurchase treasury stock | -120 | ' |
Cash used to repurchase warrant | ' | -257 |
Dividends paid on common stock | -295 | -150 |
Net cash provided by financing activities | -9,965 | 13,860 |
Increase (decrease) in cash and cash equivalents | -21,669 | 11,304 |
Cash and cash equivalents, beginning of period | 55,848 | 37,176 |
Cash and cash equivalents, end of period | 34,179 | 48,480 |
Supplemental disclosures of cash flow information: | ' | ' |
Interest paid | 2,380 | 2,782 |
Income taxes paid | ' | 445 |
Supplemental disclosures of non-cash investing and financing activities: | ' | ' |
Loans charged off | 196 | 523 |
Foreclosures and in substance foreclosures of loans during period | 166 | 77 |
Net unrealized gains (losses) on investment securities classified as available for sale | 2,688 | -2,386 |
Increase (decrease) in deferred tax asset related to unrealized gains on investments | -916 | 811 |
Dividends declared and payable | 324 | 180 |
Issue of unearned restricted stock | ' | $2 |
Basis_of_Presentation
Basis of Presentation | 3 Months Ended | |
Mar. 31, 2014 | ||
Accounting Policies [Abstract] | ' | |
Basis of Presentation | ' | |
-1 | BASIS OF PRESENTATION | |
HopFed Bancorp, Inc. (the “Company”) was formed at the direction of Heritage Bank USA Inc, 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. The Company’s primary assets are the outstanding capital stock of the converted Bank, and its sole business is that of the converted Bank. | ||
On June 5, 2013, the Bank’s legal name became Heritage Bank USA Inc. and the Bank was granted a commercial bank charter by the Kentucky Department of Financial Institutions (“KDFI”). On June 5, 2013, the Bank became subject to regulation by the KDFI and the Federal Deposit Insurance Corporation (“FDIC”). On the same day, HopFed Bancorp was granted a bank holding company charter by the Federal Reserve Bank of Saint Louis (“FED”) and as such regulated by the FED. | ||
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 Solutions, with offices in Murray, Kentucky, Kingston Springs, Tennessee, and Pleasant View, Tennessee. Heritage Solutions agents 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 three month period ended March 31, 2014, are not necessarily indicative of results that may be expected for the entire fiscal year ending December 31, 2014. | ||
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, 2013. The accounting policies followed by the Company are set forth in the Summary of Significant Accounting Policies in the Company’s December 31, 2013, Consolidated Financial Statements. | ||
Income_Per_Share
Income Per Share | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
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 month periods ended March 31, 2014, and March 31, 2013. Diluted common shares arise from the potentially dilutive effect of the Company’s stock options and warrants outstanding. | |||||||||
March 31, | |||||||||
2014 | 2013 | ||||||||
Basic IPS: | |||||||||
Net income available to common stockholders | $ | 354,000 | $ | 984,000 | |||||
Average common shares outstanding | 7,416,716 | 7,488,445 | |||||||
Net income per share available to common shareholders, basic | $ | 0.05 | $ | 0.13 | |||||
Diluted IPS | |||||||||
Net income available to common stockholders | $ | 354,000 | $ | 984,000 | |||||
Average common shares outstanding | 7,416,716 | 7,488,445 | |||||||
Dilutive effect of stock options | — | — | |||||||
Average diluted shares outstanding | 7,416,716 | 7,488,445 | |||||||
Net income per share available to common shareholders, diluted | $ | 0.05 | $ | 0.13 | |||||
Stock_Compensation
Stock Compensation | 3 Months Ended | ||||
Mar. 31, 2014 | |||||
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 $31,000 for the three month period ended March 31, 2014, and $22,000 for the three month period ended March 31, 2013, respectively. The Company issued 227 shares of restricted stock during the three month period ended March 31, 2013. The Company did not issue any shares of restricted stock during the three month period ended March 31, 2014. The table below provides a detail of the Company’s future compensation expense related to restricted stock vesting at March 31, 2014: | |||||
Year Ending December 31, | Future | ||||
Expense | |||||
2014 | $ | 88,685 | |||
2015 | 101,302 | ||||
2016 | 48,272 | ||||
2017 | 3,125 | ||||
Total | $ | 241,384 | |||
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. |
Securities
Securities | 3 Months Ended | ||||||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||||||
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 March 31, 2014, the Company has 97 securities with unrealized losses. The carrying amount of securities and their estimated fair values at March 31, 2014, were as follows: | |||||||||||||||||||||||||
March 31, 2014 | |||||||||||||||||||||||||
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 | $ | 122,736 | 1,942 | (1,839 | ) | 122,839 | |||||||||||||||||||
Taxable municipal bonds | 18,987 | 310 | (491 | ) | 18,806 | ||||||||||||||||||||
Tax free municipal bonds | 64,063 | 2,796 | (511 | ) | 66,348 | ||||||||||||||||||||
Trust preferred securities | 1,600 | — | (111 | ) | 1,489 | ||||||||||||||||||||
Commercial bonds | 2,000 | — | (6 | ) | 1,994 | ||||||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||||||
GNMA | 28,712 | 629 | (174 | ) | 29,167 | ||||||||||||||||||||
FNMA | 74,186 | 553 | (1,434 | ) | 73,305 | ||||||||||||||||||||
FHLMC | 1,215 | 30 | — | 1,245 | |||||||||||||||||||||
NON-AGENCY CMOs | 10,951 | 4 | (341 | ) | 10,614 | ||||||||||||||||||||
AGENCY CMOs | 15,813 | 152 | (234 | ) | 15,731 | ||||||||||||||||||||
$ | 340,263 | 6,416 | (5,141 | ) | 341,538 | ||||||||||||||||||||
The carrying amount of securities and their estimated fair values at December 31, 2013, was as follows: | |||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||
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 | $ | 120,608 | 1,856 | (2,441 | ) | 120,023 | |||||||||||||||||||
Taxable municipal bonds | 18,337 | 458 | (738 | ) | 18,057 | ||||||||||||||||||||
Tax free municipal bonds | 64,291 | 2,066 | (898 | ) | 65,459 | ||||||||||||||||||||
Trust preferred securities | 1,600 | — | (111 | ) | 1,489 | ||||||||||||||||||||
Commercial bonds | 2,000 | — | (16 | ) | 1,984 | ||||||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||||||
GNMA | 17,327 | 590 | (142 | ) | 17,775 | ||||||||||||||||||||
FNMA | 70,104 | 526 | (1,938 | ) | 68,692 | ||||||||||||||||||||
FHLMC | 1,301 | 35 | — | 1,336 | |||||||||||||||||||||
SLMA CMO | 8,459 | — | (374 | ) | 8,085 | ||||||||||||||||||||
AGENCY CMOs | 16,296 | 134 | (420 | ) | 16,010 | ||||||||||||||||||||
$ | 320,323 | 5,665 | (7,078 | ) | 318,910 | ||||||||||||||||||||
The scheduled maturities of debt securities available for sale at March 31, 2014, were as follows: | |||||||||||||||||||||||||
March 31, 2014 | Amortized | Estimated | |||||||||||||||||||||||
Cost | Fair | ||||||||||||||||||||||||
Value | |||||||||||||||||||||||||
Due within one year | $ | 501 | $ | 503 | |||||||||||||||||||||
Due in one to five years | 16,131 | 16,379 | |||||||||||||||||||||||
Due in five to ten years | 44,634 | 44,675 | |||||||||||||||||||||||
Due after ten years | 42,244 | 43,094 | |||||||||||||||||||||||
103,510 | 104,651 | ||||||||||||||||||||||||
Amortizing agency bonds | 105,876 | 106,825 | |||||||||||||||||||||||
Mortgage-backed securities | 130,877 | 130,062 | |||||||||||||||||||||||
Total unrestricted securities available for sale | $ | 340,263 | $ | 341,538 | |||||||||||||||||||||
The scheduled maturities of debt securities available for sale at December 31, 2013, were as follows: | |||||||||||||||||||||||||
December 31, 2013 | Amortized | Estimated | |||||||||||||||||||||||
Cost | Fair | ||||||||||||||||||||||||
Value | |||||||||||||||||||||||||
Due within one year | $ | 501 | $ | 505 | |||||||||||||||||||||
Due in one to five years | 12,630 | 12,954 | |||||||||||||||||||||||
Due in five to ten years | 38,192 | 37,364 | |||||||||||||||||||||||
Due after ten years | 49,284 | 49,314 | |||||||||||||||||||||||
100,607 | 100,137 | ||||||||||||||||||||||||
Amortizing agency bonds | 106,229 | 106,875 | |||||||||||||||||||||||
Mortgage-backed securities | 113,487 | 111,898 | |||||||||||||||||||||||
Total unrestricted securities available for sale | $ | 320,323 | $ | 318,910 | |||||||||||||||||||||
The estimated fair value and unrealized loss amounts of temporarily impaired investments as of March 31, 2014, 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 | Losses | ||||||||||||||||||||
Value | |||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||
Available for sale | |||||||||||||||||||||||||
U.S. government and agency securities: | |||||||||||||||||||||||||
Agency debt securities | $ | 37,596 | (1,186 | ) | 12,687 | (653 | ) | 50,283 | (1,839 | ) | |||||||||||||||
Taxable municipals | 6,727 | (236 | ) | 4,127 | (255 | ) | 10,854 | (491 | ) | ||||||||||||||||
Tax free municipals | 4,547 | (109 | ) | 7,089 | (402 | ) | 11,636 | (511 | ) | ||||||||||||||||
Trust preferred securities | — | — | 1,489 | (111 | ) | 1,489 | (111 | ) | |||||||||||||||||
Commercial bonds | 1,994 | (6 | ) | — | — | 1,994 | (6 | ) | |||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||||||
GNMA | 15,190 | (167 | ) | 805 | (7 | ) | 15,995 | (174 | ) | ||||||||||||||||
FNMA | 33,463 | (950 | ) | 9,416 | (484 | ) | 42,879 | (1,434 | ) | ||||||||||||||||
SLMA CMOs | 3,410 | (198 | ) | 1,798 | (143 | ) | 5,208 | (341 | ) | ||||||||||||||||
AGENCY CMOs | 7,565 | (70 | ) | 1,877 | (164 | ) | 9,442 | (234 | ) | ||||||||||||||||
Total available for sale | $ | 110,492 | (2,922 | ) | 39,288 | (2,219 | ) | 149,780 | (5,141 | ) | |||||||||||||||
The estimated fair value and unrealized loss amounts of temporarily impaired investments as of December 31, 2013, 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 | Losses | ||||||||||||||||||||
Value | |||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||
Available for sale | |||||||||||||||||||||||||
U.S. government and agency securities: | |||||||||||||||||||||||||
Agency debt securities | $ | 44,968 | (2,107 | ) | 6,793 | (334 | ) | 51,761 | (2,441 | ) | |||||||||||||||
Taxable municipal bonds | 7,903 | (660 | ) | 797 | (78 | ) | 8,700 | (738 | ) | ||||||||||||||||
Tax free municipal bonds | 9,848 | (692 | ) | 3,720 | (206 | ) | 13,568 | (898 | ) | ||||||||||||||||
Trust preferred securities | — | — | 1,489 | (111 | ) | 1,489 | (111 | ) | |||||||||||||||||
Commercial bonds | 1,984 | (16 | ) | — | — | 1,984 | (16 | ) | |||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||||||
GNMA | 5,320 | (128 | ) | 1,551 | (14 | ) | 6,871 | (142 | ) | ||||||||||||||||
FNMA | 42,464 | (1,626 | ) | 6,746 | (312 | ) | 49,210 | (1,938 | ) | ||||||||||||||||
NON-AGENCY SLMA CMOs | 5,224 | (374 | ) | — | — | 5,224 | (374 | ) | |||||||||||||||||
AGENCY CMOs | 7,031 | (223 | ) | 1,844 | (197 | ) | 8,875 | (420 | ) | ||||||||||||||||
Total available for sale | $ | 124,742 | (5,826 | ) | 22,940 | (1,252 | ) | 147,682 | (7,078 | ) | |||||||||||||||
At March 31, 2014, securities with a book value of approximately $161.6 million and a market value of approximately $163.7 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 March 31, 2014, securities with a book and market value of $34.1 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 $19.6 million and a market value of $19.2 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 | 3 Months Ended | ||||||||||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||||||||||
Receivables [Abstract] | ' | ||||||||||||||||||||||||||||
Loans | ' | ||||||||||||||||||||||||||||
-5 | LOANS | ||||||||||||||||||||||||||||
Set forth below is selected data relating to the composition of the loan portfolio by type of loan at March 31, 2014 and December 31, 2013. At March 31, 2014 and December 31, 2013, there were no concentrations of loans exceeding 10% of total loans other than as disclosed below: | |||||||||||||||||||||||||||||
March 31, 2014 | March 31, 2014 | December 31, 2013 | December 31, 2013 | ||||||||||||||||||||||||||
Amount | Percent | Amount | Percent | ||||||||||||||||||||||||||
(Dollars in thousands, except percentages) | |||||||||||||||||||||||||||||
Real estate loans: | |||||||||||||||||||||||||||||
One-to-four family (closed end) first mortgages | $ | 153,957 | 28.2 | % | $ | 155,252 | 28.1 | % | |||||||||||||||||||||
Second mortgages (closed end) | 2,829 | 0.5 | % | 3,248 | 0.6 | % | |||||||||||||||||||||||
Home equity lines of credit | 33,947 | 6.2 | % | 34,103 | 6.2 | % | |||||||||||||||||||||||
Multi-family | 28,770 | 5.3 | % | 29,736 | 5.4 | % | |||||||||||||||||||||||
Construction | 11,278 | 2.1 | % | 10,618 | 1.9 | % | |||||||||||||||||||||||
Land | 34,154 | 6.3 | % | 34,681 | 6.3 | % | |||||||||||||||||||||||
Farmland | 47,608 | 8.7 | % | 51,868 | 9.4 | % | |||||||||||||||||||||||
Non-residential real estate | 154,083 | 28.3 | % | 157,692 | 28.5 | % | |||||||||||||||||||||||
Total mortgage loans | 466,626 | 85.6 | % | 477,198 | 86.4 | % | |||||||||||||||||||||||
Consumer loans | 15,260 | 2.8 | % | 11,167 | 2 | % | |||||||||||||||||||||||
Commercial loans | 63,098 | 11.6 | % | 64,041 | 11.6 | % | |||||||||||||||||||||||
Total other loans | 78,358 | 14.4 | % | 75,208 | 13.6 | % | |||||||||||||||||||||||
Total loans, gross | 544,984 | 100 | % | 552,406 | 100 | % | |||||||||||||||||||||||
Deferred loan cost, net of income | (120 | ) | (92 | ) | |||||||||||||||||||||||||
Less allowance for loan losses | (8,913 | ) | (8,682 | ) | |||||||||||||||||||||||||
Total loans | $ | 535,951 | $ | 543,632 | |||||||||||||||||||||||||
The Bank assigns an industry standard NAICS code to each loan in the Bank’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 Bank’s non-residential real estate loan portfolio. At March 31, 2014, and December 31, 2013, the Bank’s non-residential real estate loan portfolio was made up of the following loan types: | |||||||||||||||||||||||||||||
Balance | Balance | ||||||||||||||||||||||||||||
March 31, 2014 | December 31, 2013 | ||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
Land | $ | 34,154 | $ | 34,681 | |||||||||||||||||||||||||
Manufacturing | 3,907 | 3,962 | |||||||||||||||||||||||||||
Professional, Technical | 1,784 | 1,819 | |||||||||||||||||||||||||||
Retail Trade | 11,902 | 10,916 | |||||||||||||||||||||||||||
Other Services | 18,846 | 21,307 | |||||||||||||||||||||||||||
Finance and Insurance | 2,439 | 1,862 | |||||||||||||||||||||||||||
Agricultural, Forestry, Fishing & Hunting | 47,608 | 51,868 | |||||||||||||||||||||||||||
Real Estate and Rental and Leasing | 55,778 | 55,692 | |||||||||||||||||||||||||||
Wholesale Trade | 21,486 | 21,852 | |||||||||||||||||||||||||||
Arts, Entertainment and Recreation | 3,656 | 3,015 | |||||||||||||||||||||||||||
Accommodations / Food Service | 24,004 | 26,552 | |||||||||||||||||||||||||||
Healthcare and Social Assistance | 6,668 | 6,862 | |||||||||||||||||||||||||||
Transportation and Warehousing | 1,069 | 1,101 | |||||||||||||||||||||||||||
Information | 2,309 | 2,390 | |||||||||||||||||||||||||||
Admin Support / Waste Mgmt | 235 | 362 | |||||||||||||||||||||||||||
Total | $ | 235,845 | $ | 244,241 | |||||||||||||||||||||||||
The allowance for loan losses totaled $8.9 million at March 31, 2014, $8.7 million at December 31, 2013, and $10.6 million at March 31, 2013, respectively. The ratio of the allowance for loan losses to total loans was 1.63% at March 31, 2014, 1.57% at December 31, 2013, and 1.95% at March 31, 2013. | |||||||||||||||||||||||||||||
The following table indicates the type and level of non-accrual loans at the periods indicated below: | |||||||||||||||||||||||||||||
March 31, 2014 | December 31, 2013 | March 31, 2013 | |||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
One-to-four family mortgages | $ | 1,056 | 945 | 1,883 | |||||||||||||||||||||||||
Home equity line of credit | 49 | 1 | 66 | ||||||||||||||||||||||||||
Junior lien | 1 | 2 | 3 | ||||||||||||||||||||||||||
Multi-family | — | — | — | ||||||||||||||||||||||||||
Construction | — | 175 | 177 | ||||||||||||||||||||||||||
Land | 1,217 | 1,218 | 2,754 | ||||||||||||||||||||||||||
Non-residential real estate | 6,585 | 6,546 | 951 | ||||||||||||||||||||||||||
Farmland | 669 | 703 | 545 | ||||||||||||||||||||||||||
Consumer loans | 2 | 13 | 65 | ||||||||||||||||||||||||||
Commercial loans | 453 | 463 | 592 | ||||||||||||||||||||||||||
Total non-accrual loans | $ | 10,032 | 10,066 | 7,036 | |||||||||||||||||||||||||
The following table provides a detail of the Company’s activity in the allowance for loan loss account by loan type for the three month period ended March 31, 2014: | |||||||||||||||||||||||||||||
Balance | Charge off | Recovery | Specific | General | Ending | ||||||||||||||||||||||||
12/31/13 | 2014 | 2014 | Provision | Provision | Balance | ||||||||||||||||||||||||
2014 | 2014 | 3/31/14 | |||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
One-to-four family mortgages | $ | 2,048 | (35 | ) | 8 | (10 | ) | 125 | 2,136 | ||||||||||||||||||||
Home equity line of credit | 218 | — | 1 | — | — | 219 | |||||||||||||||||||||||
Junior liens | 39 | — | 5 | 4 | (22 | ) | 26 | ||||||||||||||||||||||
Multi-family | 466 | — | — | — | (134 | ) | 332 | ||||||||||||||||||||||
Construction | 88 | (8 | ) | 2 | (6 | ) | 4 | 80 | |||||||||||||||||||||
Land | 1,305 | — | — | 41 | (133 | ) | 1,213 | ||||||||||||||||||||||
Non-residential real estate | 2,719 | — | — | (80 | ) | 250 | 2,889 | ||||||||||||||||||||||
Farmland | 510 | — | — | — | 237 | 747 | |||||||||||||||||||||||
Consumer loans | 541 | (103 | ) | 31 | (137 | ) | 343 | 675 | |||||||||||||||||||||
Commercial loans | 748 | (50 | ) | — | (50 | ) | (52 | ) | 596 | ||||||||||||||||||||
Total | $ | 8,682 | (196 | ) | 47 | (238 | ) | 618 | 8,913 | ||||||||||||||||||||
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, 2013: | |||||||||||||||||||||||||||||
Balance | Charge off | Recovery | Specific | General | Ending | ||||||||||||||||||||||||
12/31/12 | 2013 | 2013 | Provision | Provision | Balance | ||||||||||||||||||||||||
2013 | 2013 | 12/31/13 | |||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
One-to-four family mortgages | $ | 2,490 | (852 | ) | 329 | (285 | ) | 366 | 2,048 | ||||||||||||||||||||
Home equity line of credit | 374 | (22 | ) | 9 | (88 | ) | (55 | ) | 218 | ||||||||||||||||||||
Junior liens | 230 | (119 | ) | 71 | 5 | (148 | ) | 39 | |||||||||||||||||||||
Multi-family | 524 | (38 | ) | 164 | (20 | ) | (164 | ) | 466 | ||||||||||||||||||||
Construction | 256 | — | — | (168 | ) | — | 88 | ||||||||||||||||||||||
Land | 2,184 | (1,432 | ) | 9 | (718 | ) | 1,262 | 1,305 | |||||||||||||||||||||
Non-residential real estate | 2,921 | (1,041 | ) | 14 | 757 | 68 | 2,719 | ||||||||||||||||||||||
Farmland | 712 | — | — | (202 | ) | — | 510 | ||||||||||||||||||||||
Consumer loans | 338 | (649 | ) | 246 | 228 | 378 | 541 | ||||||||||||||||||||||
Commercial loans | 619 | (291 | ) | 32 | 437 | (49 | ) | 748 | |||||||||||||||||||||
Total | $ | 10,648 | (4,444 | ) | 874 | (54 | ) | 1,658 | 8,682 | ||||||||||||||||||||
The table below presents past due and non-accrual balances at March 31, 2014, by loan classification allocated between performing and non-performing: | |||||||||||||||||||||||||||||
March 31, 2014 | Currently | 30 - 89 | Non-accrual | Special | Impaired Loans | ||||||||||||||||||||||||
Days | Currently Performing | ||||||||||||||||||||||||||||
Performing | Past Due | Loans | Mention | Substandard | Doubtful | Total | |||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
One-to-four family mortgages | $ | 150,107 | 610 | 1,056 | 904 | 1,280 | — | 153,957 | |||||||||||||||||||||
Home equity line of credit | 33,256 | 148 | 49 | — | 494 | — | 33,947 | ||||||||||||||||||||||
Junior liens | 2,764 | — | 1 | 42 | 22 | — | 2,829 | ||||||||||||||||||||||
Multi-family | 23,871 | — | — | 4,899 | — | — | 28,770 | ||||||||||||||||||||||
Construction | 11,278 | — | — | — | — | — | 11,278 | ||||||||||||||||||||||
Land | 15,982 | 76 | 1,217 | 3,464 | 13,415 | — | 34,154 | ||||||||||||||||||||||
Non-residential real estate | 141,228 | 47 | 6,585 | 488 | 5,735 | — | 154,083 | ||||||||||||||||||||||
Farmland | 41,605 | — | 669 | 345 | 4,989 | — | 47,608 | ||||||||||||||||||||||
Consumer loans | 14,576 | 28 | 2 | — | 654 | — | 15,260 | ||||||||||||||||||||||
Commercial loans | 58,633 | 189 | 453 | 1,399 | 2,424 | — | 63,098 | ||||||||||||||||||||||
Total | $ | 493,300 | 1,098 | 10,032 | 11,541 | 29,013 | — | 544,984 | |||||||||||||||||||||
The table below presents past due and non-accrual balances at December 31, 2013, by loan classification allocated between performing and non-performing: | |||||||||||||||||||||||||||||
Currently | 30 - 89 | Non-accrual | Special | Impaired Loans | |||||||||||||||||||||||||
Days | Currently Performing | ||||||||||||||||||||||||||||
December 31, 2013 | Performing | Past Due | Loans | Mention | Substandard | Doubtful | Total | ||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
One-to-four family mortgages | $ | 148,759 | 592 | 945 | 814 | 4,142 | — | 155,252 | |||||||||||||||||||||
Home equity line of credit | 33,369 | 93 | 1 | — | 640 | — | 34,103 | ||||||||||||||||||||||
Junior liens | 3,126 | — | 2 | 43 | 77 | — | 3,248 | ||||||||||||||||||||||
Multi-family | 29,736 | — | — | — | — | — | 29,736 | ||||||||||||||||||||||
Construction | 10,443 | — | 175 | — | — | — | 10,618 | ||||||||||||||||||||||
Land | 19,899 | — | 1,218 | 52 | 13,512 | — | 34,681 | ||||||||||||||||||||||
Non-residential real estate | 142,701 | 343 | 6,546 | 515 | 7,587 | — | 157,692 | ||||||||||||||||||||||
Farmland | 46,042 | — | 703 | 480 | 4,643 | — | 51,868 | ||||||||||||||||||||||
Consumer loans | 10,493 | 234 | 13 | — | 427 | — | 11,167 | ||||||||||||||||||||||
Commercial loans | 61,379 | 123 | 463 | 526 | 1,550 | — | 64,041 | ||||||||||||||||||||||
Total | $ | 505,947 | 1,385 | 10,066 | 2,430 | 32,578 | — | 552,406 | |||||||||||||||||||||
All loans listed as 30-89 days past due and non-accrual are not performing as agreed. Loans listed as special mentioned, 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 three month periods ended March 31, 2014, March 31, 2013, and the year ended December 31, 2013, was 0.11%, 0.33% and 0.66%, respectively. The ratios of allowance for loan losses to non-accrual loans at March 31, 2014, March 31, 2013, and December 31, 2013, were 88.85%, 150.35%, and 86.25%, respectively. | |||||||||||||||||||||||||||||
The determination of the allowance for loan losses is based on management’s analysis, performed 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 one 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 23, Watch loans are included with satisfactory loans and classified as Pass. | |||||||||||||||||||||||||||||
Special Mention 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 possible 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 or using the fair value of the collateral less cost to sell if the loan is collateral dependent. Currently, it is management’s practice to classify all substandard or doubtful loans as impaired. At March 31, 2014, December 31, 2013, and March 31, 2013, the Company’s impaired loans totaled $39.0 million, $42.6 million and $43.7 million, respectively. At March 31, 2014, December 31, 2013, and March 31, 2013, the Company’s specific reserve for impaired loans totaled $2.0 million, $1.9 million and $2.7 million, respectively. | |||||||||||||||||||||||||||||
A summary of the Company’s impaired loans, including their respective regulatory classification and their respective specific reserve at March 31, 2014, were as follows: | |||||||||||||||||||||||||||||
March 31, 2014 | Pass | Special | Total | Specific | Allowance | ||||||||||||||||||||||||
Mention | Allowance | for | |||||||||||||||||||||||||||
Impaired Loans | for | Performing | |||||||||||||||||||||||||||
Substandard | Doubtful | Impairment | Loans | ||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
One-to-four family mortgages | $ | 150,717 | 904 | 2,336 | — | 153,957 | 580 | 1,556 | |||||||||||||||||||||
Home equity line of credit | 33,404 | — | 543 | — | 33,947 | — | 219 | ||||||||||||||||||||||
Junior liens | 2,764 | 42 | 23 | — | 2,829 | — | 26 | ||||||||||||||||||||||
Multi-family | 23,871 | 4,899 | — | — | 28,770 | — | 332 | ||||||||||||||||||||||
Construction | 11,278 | — | — | — | 11,278 | — | 80 | ||||||||||||||||||||||
Land | 16,058 | 3,464 | 14,632 | — | 34,154 | 730 | 483 | ||||||||||||||||||||||
Non-residential real estate | 141,275 | 488 | 12,320 | — | 154,083 | 546 | 2,343 | ||||||||||||||||||||||
Farmland | 41,605 | 345 | 5,658 | — | 47,608 | — | 747 | ||||||||||||||||||||||
Consumer loans | 14,604 | — | 656 | — | 15,260 | 160 | 515 | ||||||||||||||||||||||
Commercial loans | 58,822 | 1,399 | 2,877 | — | 63,098 | — | 596 | ||||||||||||||||||||||
Total | $ | 494,398 | 11,541 | 39,045 | — | 544,984 | 2,016 | 6,897 | |||||||||||||||||||||
A summary of the Company’s impaired loans and their respective reserve at December 31, 2013, were as follows: | |||||||||||||||||||||||||||||
December 31, 2013 | Pass | Special | Total | Allowance | Allowance | ||||||||||||||||||||||||
Mention | for | for | |||||||||||||||||||||||||||
Impaired Loans | Impairment | Performing | |||||||||||||||||||||||||||
Substandard | Doubtful | Loans | |||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
One-to-four family mortgages | $ | 149,351 | 814 | 5,087 | — | 155,252 | 597 | 1,451 | |||||||||||||||||||||
Home equity line of credit | 33,462 | — | 641 | — | 34,103 | — | 218 | ||||||||||||||||||||||
Junior liens | 3,126 | 43 | 79 | — | 3,248 | — | 39 | ||||||||||||||||||||||
Multi-family | 29,736 | — | — | — | 29,736 | — | 466 | ||||||||||||||||||||||
Construction | 10,443 | — | 175 | — | 10,618 | — | 88 | ||||||||||||||||||||||
Land | 19,899 | 52 | 14,730 | — | 34,681 | 771 | 534 | ||||||||||||||||||||||
Non-residential real estate | 143,044 | 515 | 14,133 | — | 157,692 | 465 | 2,254 | ||||||||||||||||||||||
Farmland | 46,042 | 480 | 5,346 | — | 51,868 | — | 510 | ||||||||||||||||||||||
Consumer loans | 10,727 | — | 440 | — | 11,167 | 96 | 445 | ||||||||||||||||||||||
Commercial loans | 61,502 | 526 | 2,013 | — | 64,041 | — | 748 | ||||||||||||||||||||||
Total | $ | 507,332 | 2,430 | 42,644 | — | 552,406 | 1,929 | 6,753 | |||||||||||||||||||||
Impaired loans by classification type and the related valuation allowance amounts at March 31, 2014, were as follows: | |||||||||||||||||||||||||||||
At March 31, 2014 | For the three month period ended | ||||||||||||||||||||||||||||
March 31, 2014 | |||||||||||||||||||||||||||||
Impaired loans with no recorded reserve | Recorded | Unpaid | Related | Average | Interest | ||||||||||||||||||||||||
Investment | Principal | Allowance | Recorded | Income | |||||||||||||||||||||||||
Balance | Investment | Recognized | |||||||||||||||||||||||||||
One-to-four family mortgages | $ | 481 | 481 | — | 1,849 | 2 | |||||||||||||||||||||||
Home equity line of credit | 543 | 543 | — | 592 | 3 | ||||||||||||||||||||||||
Junior liens | 23 | 23 | — | 51 | 1 | ||||||||||||||||||||||||
Multi-family | — | — | — | — | — | ||||||||||||||||||||||||
Construction | — | — | — | 88 | — | ||||||||||||||||||||||||
Land | 11,106 | 11,106 | — | 10,994 | 201 | ||||||||||||||||||||||||
Farmland | 5,658 | 5,658 | 8,217 | 102 | |||||||||||||||||||||||||
Non-residential real estate | 8,987 | 8,987 | — | 7,167 | 157 | ||||||||||||||||||||||||
Consumer loans | 14 | 14 | — | 35 | — | ||||||||||||||||||||||||
Commercial loans | 2,877 | 2,877 | — | 2,445 | 106 | ||||||||||||||||||||||||
Total | 29,689 | 29,689 | — | 31,438 | 572 | ||||||||||||||||||||||||
Impaired loans with recorded reserve | |||||||||||||||||||||||||||||
One-to-four family mortgages | 1,855 | 1,855 | 580 | 1,863 | 6 | ||||||||||||||||||||||||
Home equity line of credit | — | — | — | — | — | ||||||||||||||||||||||||
Junior liens | — | — | — | — | — | ||||||||||||||||||||||||
Multi-family | — | — | — | — | — | ||||||||||||||||||||||||
Construction | — | — | — | — | — | ||||||||||||||||||||||||
Land | 3,526 | 5,039 | 730 | 3,687 | 23 | ||||||||||||||||||||||||
Farmland | — | — | — | — | — | ||||||||||||||||||||||||
Non-residential real estate | 3,333 | 4,118 | 546 | 3,346 | 76 | ||||||||||||||||||||||||
Consumer loans | 642 | 642 | 160 | 513 | — | ||||||||||||||||||||||||
Commercial loans | — | — | — | — | — | ||||||||||||||||||||||||
Total | 9,356 | 11,654 | 2,016 | 9,409 | 105 | ||||||||||||||||||||||||
Total impaired loans | $ | 39,045 | 41,343 | 2,016 | 40,847 | 677 | |||||||||||||||||||||||
Impaired loans by classification type and the related valuation allowance amounts at December 31, 2013, were as follows: | |||||||||||||||||||||||||||||
At December 31, 2013 | For the year ended | ||||||||||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||||||
Impaired loans with no recorded reserve | Recorded | Unpaid | Related | Average | Interest | ||||||||||||||||||||||||
Investment | Principal | Allowance | Recorded | Income | |||||||||||||||||||||||||
Balance | Investment | Recognized | |||||||||||||||||||||||||||
One-to-four family mortgages | $ | 3,216 | 3,216 | — | 2,361 | 8 | |||||||||||||||||||||||
Home equity line of credit | 641 | 641 | — | 564 | 3 | ||||||||||||||||||||||||
Junior liens | 79 | 79 | — | 239 | 1 | ||||||||||||||||||||||||
Multi-family | — | — | — | 990 | — | ||||||||||||||||||||||||
Construction | 175 | 175 | — | 1,072 | 5 | ||||||||||||||||||||||||
Land | 10,882 | 12,315 | — | 10,668 | 186 | ||||||||||||||||||||||||
Farmland | 5,346 | 5,346 | — | 6,955 | 149 | ||||||||||||||||||||||||
Non-residential real estate | 10,775 | 10,775 | — | 6,196 | 263 | ||||||||||||||||||||||||
Consumer loans | 56 | 56 | — | 48 | — | ||||||||||||||||||||||||
Commercial loans | 2,013 | 2,013 | — | 2,391 | 95 | ||||||||||||||||||||||||
Total | 33,183 | 34,616 | — | 31,484 | 710 | ||||||||||||||||||||||||
Impaired loans with recorded reserve | |||||||||||||||||||||||||||||
One-to-four family mortgages | 1,871 | 1,871 | 597 | 2,501 | 9 | ||||||||||||||||||||||||
Home equity line of credit | — | — | — | 279 | — | ||||||||||||||||||||||||
Junior liens | — | — | — | 113 | — | ||||||||||||||||||||||||
Multi-family | — | — | — | — | — | ||||||||||||||||||||||||
Construction | — | — | — | 1,385 | — | ||||||||||||||||||||||||
Land | 3,848 | 3,848 | 771 | 2,741 | 29 | ||||||||||||||||||||||||
Farmland | — | — | — | 1,601 | — | ||||||||||||||||||||||||
Non-residential real estate | 3,358 | 4,222 | 465 | 2,243 | 111 | ||||||||||||||||||||||||
Consumer loans | 384 | 384 | 96 | 401 | — | ||||||||||||||||||||||||
Commercial loans | — | — | — | 346 | — | ||||||||||||||||||||||||
Total | $ | 9,461 | 10,325 | 1,929 | 11,610 | 149 | |||||||||||||||||||||||
Total impaired loans | $ | 42,644 | 44,941 | 1,929 | 43,094 | 859 | |||||||||||||||||||||||
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: | |||||||||||||||||||||||||||||
1 | 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. | ||||||||||||||||||||||||||||
2 | 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. | ||||||||||||||||||||||||||||
3 | 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. | ||||||||||||||||||||||||||||
At March 31, 2014, and December 31, 2013, the Company has no loans classified as Troubled Debt Restructurings (TDR’s) that are reported as performing at March 31, 2014, and December 31, 2013, respectively. For the three month period ended March 31, 2014, no loans were classified as TDR and no loans were added or removed from TDR status during the three month period ended March 31, 2014. |
Real_Estate_and_Other_Assets_O
Real Estate and Other Assets Owned | 3 Months Ended | ||||||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||||||
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 March 31, 2014, December 31, 2013, and March 31, 2013, the Company had balances in other real estate and assets owned and non-accrual loans consisting of the following: | |||||||||||||||||||||||||
March 31, 2014 | December 31, 2013 | March 31, 2013 | |||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||
One-to-four family mortgages | $ | 446 | 350 | 295 | |||||||||||||||||||||
Land | 1,034 | 1,124 | 1,112 | ||||||||||||||||||||||
Non-residential real estate | 200 | 200 | 73 | ||||||||||||||||||||||
Total other assets owned | $ | 1,680 | 1,674 | 1,480 | |||||||||||||||||||||
Total non-accrual loans | $ | 10,032 | 10,066 | 7,036 | |||||||||||||||||||||
Total non-performing assets | $ | 11,712 | 11,740 | 8,516 | |||||||||||||||||||||
Non-performing assets / Total assets | 1.21 | % | 1.21 | % | 0.86 | % | |||||||||||||||||||
The following is a summary of the activity in the Company’s real estate and other assets owned for the three month period ending March 31, 2014: | |||||||||||||||||||||||||
Activity During 2014 | |||||||||||||||||||||||||
Balance | Foreclosures | Proceeds | Reduction | Gain (Loss) | Balance | ||||||||||||||||||||
12/31/13 | in Values | on Sale | 3/31/14 | ||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||
One-to-four family mortgages | $ | 350 | 166 | (66 | ) | — | (4 | ) | $ | 446 | |||||||||||||||
Multi-family | — | — | — | — | — | — | |||||||||||||||||||
Construction | — | — | — | — | — | — | |||||||||||||||||||
Land | 1,124 | — | (71 | ) | — | (19 | ) | 1,034 | |||||||||||||||||
Non-residential real estate | 200 | — | — | — | — | 200 | |||||||||||||||||||
Consumer assets | — | — | — | — | — | — | |||||||||||||||||||
Total | $ | 1,674 | 166 | (137 | ) | — | (23 | ) | $ | 1,680 | |||||||||||||||
The following is a summary of the activity in the Company’s real estate and other assets owned for the year ended December 31, 2013: | |||||||||||||||||||||||||
Activity During 2013 | |||||||||||||||||||||||||
Balance | Foreclosures | Proceeds | Reduction | Gain (Loss) | Balance | ||||||||||||||||||||
12/31/12 | in Values | on Sale | 12/31/13 | ||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||
One-to-four family mortgages | $ | 258 | 1,052 | (938 | ) | (26 | ) | 4 | $ | 350 | |||||||||||||||
Multi-family | — | — | — | — | — | — | |||||||||||||||||||
Construction | 130 | — | (110 | ) | (110 | ) | 90 | — | |||||||||||||||||
Land | 1,112 | 80 | — | (68 | ) | — | 1,124 | ||||||||||||||||||
Non-residential real estate | 44 | 240 | (60 | ) | (11 | ) | (13 | ) | 200 | ||||||||||||||||
Consumer assets | 4 | 7 | (5 | ) | (4 | ) | (2 | ) | — | ||||||||||||||||
Total | $ | 1,548 | 1,379 | (1,113 | ) | (219 | ) | 79 | $ | 1,674 | |||||||||||||||
Investments_in_Affiliated_Comp
Investments in Affiliated Companies | 3 Months Ended | ||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||
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 | At | |||||||||||||||
March 31, 2014 | December 31, 2013 | ||||||||||||||||
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 Statements of Income | |||||||||||||||||
Three Month Periods | |||||||||||||||||
Ended March 31, | |||||||||||||||||
2014 | 2013 | ||||||||||||||||
Income – interest income from subordinated debentures issued by HopFed Bancorp, Inc. | $ | 86 | 88 | ||||||||||||||
Net income | $ | 86 | 88 | ||||||||||||||
Summary Statement of Stockholders’ Equity | |||||||||||||||||
Trust | Common | Retained | Total | ||||||||||||||
Preferred | Stock | Earnings | Stockholders’ | ||||||||||||||
Securities | Equity | ||||||||||||||||
Beginning balances, December 31, 2013 | $ | 10,000 | 310 | — | 10,310 | ||||||||||||
Net income | — | — | 86 | 86 | |||||||||||||
Dividends: | |||||||||||||||||
Trust preferred securities | — | — | (83 | ) | (83 | ) | |||||||||||
Common paid to HopFed Bancorp, Inc. | — | — | (3 | ) | (3 | ) | |||||||||||
Ending balances, March 31, 2014 | $ | 10,000 | 310 | — | 10,310 | ||||||||||||
Fair_Value_of_Assets_and_Liabi
Fair Value of Assets and Liabilities | 3 Months Ended | ||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||||
Fair Value of Assets and Liabilities | ' | ||||||||||||||||||||
-8 | FAIR VALUE OF ASSETS AND LIABILITIES | ||||||||||||||||||||
In September 2006, the FASB issued ASC 820-10, Fair Value Measurements. This Statement 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 are 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 March 31, 2014, are summarized below: | |||||||||||||||||||||
March 31, 2014 | Total carrying | Quoted Prices | Significant | Significant | |||||||||||||||||
value in the | In Active | Other | |||||||||||||||||||
Description | consolidated | Markets for | Observable | Unobservable | |||||||||||||||||
balance sheet at | Identical Assets | Inputs | Inputs | ||||||||||||||||||
March 31, 2014 | (Level 1) | (Level 2) | (Level 3) | ||||||||||||||||||
Assets | |||||||||||||||||||||
Available for sale securities | $ | 341,538 | — | 340,049 | 1,489 | ||||||||||||||||
Bank owned life insurance | $ | 9,764 | — | 9,764 | — | ||||||||||||||||
Liabilities | |||||||||||||||||||||
Interest rate swap | $ | 675 | — | 675 | — | ||||||||||||||||
The assets and liabilities measured at fair value on a recurring basis at December 31, 2013, are summarized below | |||||||||||||||||||||
December 31, 2013 | Total carrying | Quoted Prices | Significant | Significant | |||||||||||||||||
value in the | In Active | Other | Unobservable | ||||||||||||||||||
consolidated | Markets for | Observable | |||||||||||||||||||
Description | balance sheet at | Identical Assets | Inputs | Inputs | |||||||||||||||||
December 31, 2013 | (Level 1) | (Level 2) | (Level 3) | ||||||||||||||||||
Assets | |||||||||||||||||||||
Available for sale securities | $ | 318,910 | — | 317,421 | 1,489 | ||||||||||||||||
Bank owned life insurance | $ | 9,677 | — | 9,677 | — | ||||||||||||||||
Liabilities | |||||||||||||||||||||
Interest rate swap | $ | 750 | — | 750 | — | ||||||||||||||||
The assets and liabilities measured at fair value on a non-recurring basis are summarized below for March 31, 2014: | |||||||||||||||||||||
31-Mar-14 | Total carrying | Quoted Prices | Significant | Significant | |||||||||||||||||
In Active | Other | Unobservable | |||||||||||||||||||
value in the | |||||||||||||||||||||
Markets for | Observable | ||||||||||||||||||||
consolidated | |||||||||||||||||||||
Description | balance sheet at | Identical Assets | Inputs | Inputs | |||||||||||||||||
March 31, 2014 | (Level 1) | (Level 2) | (Level 3) | ||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||
Assets | |||||||||||||||||||||
Other real estate owned | $ | 1,680 | — | — | $ | 1,680 | |||||||||||||||
Impaired loans, net of reserve of $2,016 | $ | 37,029 | — | — | $ | 37,029 | |||||||||||||||
The assets and liabilities measured at fair value on a non-recurring basis are summarized below for December 31, 2013: | |||||||||||||||||||||
December 31, 2013 | Total carrying | Quoted Prices | Significant | Significant | |||||||||||||||||
value in the | In Active | Other | |||||||||||||||||||
Description | consolidated | Markets for | Observable | Unobservable | |||||||||||||||||
balance sheet at | Identical Assets | Inputs | Inputs | ||||||||||||||||||
December 31, 2013 | (Level 1) | (Level 2) | (Level 3) | ||||||||||||||||||
Assets | |||||||||||||||||||||
Other real estate owned | $ | 1,674 | — | — | $ | 1,674 | |||||||||||||||
Impaired loans, net of reserve of $1,929 | $ | 40,715 | — | — | $ | 40,715 | |||||||||||||||
The table below includes a roll-forward of the consolidated condensed statement of financial condition items for the three month periods ended March 31, 2014, and March 31, 2013, (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. | |||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||
Three month period ended March 31, | Other Assets | Other Liabilities | Other Assets | Other Liabilities | |||||||||||||||||
(Dollars in | |||||||||||||||||||||
Thousands) | |||||||||||||||||||||
Fair value, January 1, | $ | 1,489 | — | 1,489 | — | ||||||||||||||||
Change in unrealized losses included in other comprehensive income for assets and liabilities still held at March 31, | — | — | — | ||||||||||||||||||
Purchases, issuances and settlements, net | — | — | — | — | |||||||||||||||||
Transfers in and/or out of Level 3 | — | — | — | — | |||||||||||||||||
Fair value, March 31, | $ | 1,489 | — | 1,489 | — | ||||||||||||||||
The estimated fair values of financial instruments were as follows at March 31, 2014: | |||||||||||||||||||||
Estimated | Quoted Prices | Using | Significant | ||||||||||||||||||
Fair | In Active Markets | Significant | Unobservable | ||||||||||||||||||
Value | for Identical | Other | Inputs | ||||||||||||||||||
Assets | Observable | Level 3 | |||||||||||||||||||
Level 1 | Inputs | ||||||||||||||||||||
Carrying | Level 2 | ||||||||||||||||||||
Amount | |||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||
Financial Assets: | |||||||||||||||||||||
Cash and due from banks | $ | 25,449 | 25,449 | $ | 25,449 | — | — | ||||||||||||||
Interest-earning deposits | 8,730 | 8,730 | 8,730 | — | — | ||||||||||||||||
Securities available for sale | 341,538 | 341,538 | — | 340,049 | 1,489 | ||||||||||||||||
Federal Home Loan Bank stock | 4,428 | 4,428 | — | 4,428 | — | ||||||||||||||||
Loans receivable | 535,951 | 539,482 | — | — | 539,482 | ||||||||||||||||
Accrued interest receivable | 4,447 | 4,447 | — | 4,447 | — | ||||||||||||||||
Bank owned life insurance | 9,764 | 9,764 | — | 9,764 | — | ||||||||||||||||
Financial liabilities: | |||||||||||||||||||||
Deposits | 761,526 | 761,328 | — | 761,328 | — | ||||||||||||||||
Advances from borrowers for taxes and insurance | 572 | 572 | — | 572 | — | ||||||||||||||||
Advances from Federal Home Loan Bank | 41,280 | 44,865 | — | 44,865 | — | ||||||||||||||||
Repurchase agreements | 50,129 | 50,910 | — | 50,910 | — | ||||||||||||||||
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 | 675 | 675 | — | 675 | — | ||||||||||||||||
The estimated fair values of financial instruments were as follows at December 31, 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 | $ | 37,229 | 37,229 | $ | 37,229 | — | — | ||||||||||||||
Interest-earning deposits | 18,619 | 18,619 | 18,619 | — | — | ||||||||||||||||
Securities available for sale | 318,910 | 318,910 | — | 317,421 | 1,489 | ||||||||||||||||
Federal Home Loan Bank stock | 4,428 | 4,428 | — | 4,428 | — | ||||||||||||||||
Loans receivable | 543,632 | 546,319 | — | — | 546,319 | ||||||||||||||||
Accrued interest receivable | 5,233 | 5,233 | — | 5,233 | — | ||||||||||||||||
Bank owned life insurance | 9,677 | 9,677 | — | 9,677 | — | ||||||||||||||||
Financial liabilities: | |||||||||||||||||||||
Deposits | 762,997 | 763,605 | — | 763,605 | — | ||||||||||||||||
Advances from borrowers for taxes and insurance | 521 | 521 | — | 521 | — | ||||||||||||||||
Advances from Federal Home Loan Bank | 46,780 | 51,010 | — | 51,010 | — | ||||||||||||||||
Repurchase agreements | 52,759 | 53,712 | — | 53,712 | — | ||||||||||||||||
Subordinated debentures | 10,310 | 10,099 | — | — | 10,099 | ||||||||||||||||
Off-balance-sheet liabilities: | — | ||||||||||||||||||||
Commitments to extend credit | — | — | — | — | — | ||||||||||||||||
Commercial letters of credit | — | — | — | — | — | ||||||||||||||||
Market value of interest rate swap | 750 | 750 | — | 750 | — |
Stock_Option
Stock Option | 3 Months Ended | |
Mar. 31, 2014 | ||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | |
Stock Option | ' | |
-9 | STOCK OPTIONS | |
At March 31, 2014, all stock options outstanding were issued under the HopFed Bancorp, Inc. 1999 Stock Option Plan. At March 31, 2014, 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 | 3 Months Ended | |
Mar. 31, 2014 | ||
Derivative Instruments And Hedging Activities Disclosure [Abstract] | ' | |
Derivative Instruments | ' | |
-10 | 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 three month period ended March 31, 2014, or the year ended December 31, 2013. | ||
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 will be tested quarterly for effectiveness. At March 31, 2014, and December 31, 2013, the cost of the Bank to terminate the cash flow hedge was approximately $675,000 and $750,000, respectively. |
Effect_of_New_Accounting_Prono
Effect of New Accounting Pronouncements | 3 Months Ended | |
Mar. 31, 2014 | ||
Accounting Changes And Error Corrections [Abstract] | ' | |
Effect of New Accounting Pronouncements | ' | |
-11 | EFFECT OF NEW ACCOUNTING PRONOUNCEMENTS | |
In April 2011, the FASB issued ASU 2011-02, A Creditor’s Determination of Whether a Restructuring is a Troubled Debt Restructuring. The provisions of ASU 2011-02 provide additional guidance related to determining whether a creditor has granted a concession, including factors and examples for creditors to consider in evaluating when a credit restructuring results in a delay in payment that is insignificant, prohibits creditors from using the borrowers interest cost as a factor in determining whether the lender has granted a concession to the borrower, and added factors for creditors to use in determining whether a borrower is experiencing financial difficulties. A provision in ASU 2011-02 ends the FASB’s deferral of additional disclosures about troubled debt restructuring as required by ASU 2010-20. The provisions of ASU 2011-02 were effective for the Company’s reporting period ending September 30, 2011. The adoption of ASU 2011-02 did not have a material impact on the Company’s consolidated financial statements of income, condition and cash flow. | ||
ASU No. 2011-03, “Transfers and Servicing (Topic 860)—Reconsideration of Effective Control for Repurchase Agreements.” ASU 2011-03 is intended to improve financial reporting of repurchase agreements and other agreements that both entitle and obligate a transferor to repurchase or redeem financial assets before their maturity. ASU 2011-03 removes from the assessment of effective control (i) the criterion requiring the transferor to have the ability to repurchase or redeem the financial assets on substantially the agreed terms, even in the event of default by the transferee, and (ii) the collateral maintenance guidance related to that criterion. ASU 2011-03 became effective for the Company on January 1, 2012, and did not have a significant impact on the Company’s consolidated financial statements of income, condition and cash flow. | ||
In May 2011, the FASB issued ASU No. 2011-04, Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in United States of America generally accepted accounting principles (U.S. GAAP) and international Financial Reporting Standards (Topic 820) – Fair Value Measurement (ASU 2011-04), to provide consistent definition of the fair value and ensure that the fair value measurement and disclosure requirements are similar between U.S. GAAP and International Financial Reporting Standards. ASU 2011-04 is effective for reporting periods ending after March 30, 2012, and was applied prospectively. The implementation of ASU 2011-04 did not have a material impact on our consolidated financial statements of comprehensive income. | ||
In June 2011, the FASB issued ASU No. 2011-05, Comprehensive Income, new disclosure guidance related to the presentation of the Statement of Comprehensive Income. This guidance eliminates the current option to report other comprehensive income and its components in the statement of changes in equity and requires presentation of reclassification adjustments on the face of the income statement. The effective date of this pronouncement is December 15, 2011. The adoption of this standard did not have a material impact on the Company’s consolidated financial statements of income, condition, and cash flow. | ||
ASU 2011-11, “Balance Sheet (Topic 210) - “Disclosures about Offsetting Assets and Liabilities.” ASU 2011-11 amends Topic 210, “Balance Sheet,” to require an entity to disclose both gross and net information about financial instruments, such as sales and repurchase agreements and reverse sale and repurchase agreements and securities borrowing/lending arrangements, and derivative instruments that are eligible for offset in the statement of financial position and/or subject to a master netting arrangement or similar agreement. ASU No. 2013-01, “Balance Sheet (Topic 210)—Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities,” clarifies that ordinary trade receivables are not within the scope of ASU 2011-11. ASU 2011-11 is effective for annual and interim periods beginning on January 1, 2013, and did not a material impact on the Company’s financial statements. | ||
In December 2011, the FASB issued ASU 2011-12, Comprehensive Income (Topic 220): Deferral of the Effective Date for Amendments to the Presentation of Reclassifications of Items Out of Accumulated Other Comprehensive Income in Accounting Standards update No. 2011-05. This update to Comprehensive Income (Topic 220) defers the requirement to present items that are reclassified from accumulated other comprehensive income to net income separately with their respective components of net income and other comprehensive income. The deferral supersedes only the paragraphs pertaining to how and where reclassification adjustments are presented. The amendments in this update were effective for public entities for reporting periods beginning after December 15, 2011. The implementation of ASU 2011-12 did not have a material impact on the Company’s consolidated statement of comprehensive income. | ||
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 was effective for the Company’s beginning January 1, 2013, 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 became effective for the Corporation on January 1, 2014, and did not have a significant impact on the Corporation’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 became effective for qualifying new or re-designated hedging relationships entered into on or after July 17, 2013, and did not have a significant impact on the Company’s financial statements. | ||
ASU 2013-12, “Definition of a Public Business Entity - An Addition to the Master Glossary.” ASU 2013-12 amends the Master Glossary of the FASB Accounting Standards Codification to include one definition of public business entity for future use in U.S. GAAP and identifies the types of business entities that are excluded from the scope of the Private Company Decision-Making Framework: A Guide for Evaluating Financial Accounting and Reporting for Private Companies. There is no effective date for ASU 2013-12. ASU 2013-12 did not have a significant impact on the Company’s financial statements. | ||
ASU 2014-01: Accounting for Investments in Qualified Affordable Housing Projects. The amendments in ASU 2014-01 permit entities to make an accounting policy election to account for investments in qualified affordable housing projects using the proportional amortization method if certain conditions are met. Under the proportional amortization method, an entity recognizes the net investment performance in the income statement as a component of income tax expense (benefit). The Company has not yet determined the impact of this amendment to its future financial statements. | ||
ASU 2014-04; “Receivables, Troubled Debt Restructurings by Creditors (Subtopic 310-40), the reclassification of residential real estate collateralized consumer mortgage loans upon foreclosure.” This amendment is intended to clarify when a creditor should be considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan such that the loan should be derecognized and the real estate recognized. These amendments clarify that an in substance repossession or foreclosure occurs, and a creditor is considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan, upon either: (a) the creditor obtaining legal title to the residential real estate property upon completion of a foreclosure; or (b) the borrower conveying all interest in the residential real estate property to the creditor to satisfy that loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. Additional disclosures are required. The amendments are effective for the Company for annual periods and interim periods within those annual periods beginning after December 15, 2014. The Company has not yet determined the impact of the application of ASU 2014-04 on its future financial statements. | ||
In April 2014, FASB issued ASU 2014-08; “Reporting Discontinued Operations and Disclosures of Components of an Entity.” This amendment changes the criteria for reporting discontinued operations, which includes a component of an entity or a group of components of an entity, a business or non-profit activity. This amendment requires additional disclosures about discontinued operations, including major changes in lines constituting pretax net income (loss) of the discontinued operation for the periods presented in the report. This amendment is effective with all annual periods beginning on or after December 15, 2015. The Company has not yet determined the impact of this amendment on its future 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. |
Subsequent_Event
Subsequent Event | 3 Months Ended | |
Mar. 31, 2014 | ||
Subsequent Events [Abstract] | ' | |
Subsequent Event | ' | |
-12 | SUBSEQUENT EVENT | |
On April 22, 2014, Community Bank Shares of Indiana (NASDAQ GM: CBIN), filed an 8-K announcing the purchase of First Financial Services Corporation (NASDAQ GM: FFKY). The announcement indicated that the transaction was expected to close late in the third quarter or the fourth quarter of 2014. | ||
The Company currently owns a trust preferred security issued by FFKY with a $2.0 million par value, a $1.6 million cost basis and a $1.5 million market value. The subordinated debt issued by FFKY has been in deferral status since October 2010. At the close of this transaction, management will carefully review the status of the security. |
Income_Taxes
Income Taxes | 3 Months Ended | |
Mar. 31, 2014 | ||
Income Tax Disclosure [Abstract] | ' | |
Income Taxes | ' | |
-13 | 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. |
Loans_Policies
Loans (Policies) | 3 Months Ended | |||
Mar. 31, 2014 | ||||
Derivative Instruments And Hedging Activities Disclosure [Abstract] | ' | |||
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: | ||||
1 | 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. | |||
2 | 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. | |||
3 | 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 Measurement and Disclosures | ' | |||
In September 2006, the FASB issued ASC 820-10, Fair Value Measurements. This Statement 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 are 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. | ||||
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 three month period ended March 31, 2014, or the year ended December 31, 2013. | ||||
Balance Sheet | ' | |||
ASU 2011-11, “Balance Sheet (Topic 210) - “Disclosures about Offsetting Assets and Liabilities.” ASU 2011-11 amends Topic 210, “Balance Sheet,” to require an entity to disclose both gross and net information about financial instruments, such as sales and repurchase agreements and reverse sale and repurchase agreements and securities borrowing/lending arrangements, and derivative instruments that are eligible for offset in the statement of financial position and/or subject to a master netting arrangement or similar agreement. ASU No. 2013-01, “Balance Sheet (Topic 210)—Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities,” clarifies that ordinary trade receivables are not within the scope of ASU 2011-11. ASU 2011-11 is effective for annual and interim periods beginning on January 1, 2013, and did not a material impact on the Company’s financial statements. | ||||
Comprehensive Income | ' | |||
In December 2011, the FASB issued ASU 2011-12, Comprehensive Income (Topic 220): Deferral of the Effective Date for Amendments to the Presentation of Reclassifications of Items Out of Accumulated Other Comprehensive Income in Accounting Standards update No. 2011-05. This update to Comprehensive Income (Topic 220) defers the requirement to present items that are reclassified from accumulated other comprehensive income to net income separately with their respective components of net income and other comprehensive income. The deferral supersedes only the paragraphs pertaining to how and where reclassification adjustments are presented. The amendments in this update were effective for public entities for reporting periods beginning after December 15, 2011. The implementation of ASU 2011-12 did not have a material impact on the Company’s consolidated statement of comprehensive income. | ||||
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 was effective for the Company’s beginning January 1, 2013, 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. | ||||
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 became effective for the Corporation on January 1, 2014, and did not have a significant impact on the Corporation’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 became effective for qualifying new or re-designated hedging relationships entered into on or after July 17, 2013, and did not have a significant impact on the Company’s financial statements. | ||||
Definition of a Public Business Entity | ' | |||
ASU 2013-12, “Definition of a Public Business Entity - An Addition to the Master Glossary.” ASU 2013-12 amends the Master Glossary of the FASB Accounting Standards Codification to include one definition of public business entity for future use in U.S. GAAP and identifies the types of business entities that are excluded from the scope of the Private Company Decision-Making Framework: A Guide for Evaluating Financial Accounting and Reporting for Private Companies. There is no effective date for ASU 2013-12. ASU 2013-12 did not have a significant impact on the Company’s financial statements. |
Income_Per_Share_Tables
Income Per Share (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Earnings Per Share [Abstract] | ' | ||||||||
Reconciliation of Basic and Diluted Income Per Share | ' | ||||||||
The following schedule reconciles the numerators and denominators of the basic and diluted income per share (“IPS”) computations for the three month periods ended March 31, 2014, and March 31, 2013. | |||||||||
March 31, | |||||||||
2014 | 2013 | ||||||||
Basic IPS: | |||||||||
Net income available to common stockholders | $ | 354,000 | $ | 984,000 | |||||
Average common shares outstanding | 7,416,716 | 7,488,445 | |||||||
Net income per share available to common shareholders, basic | $ | 0.05 | $ | 0.13 | |||||
Diluted IPS | |||||||||
Net income available to common stockholders | $ | 354,000 | $ | 984,000 | |||||
Average common shares outstanding | 7,416,716 | 7,488,445 | |||||||
Dilutive effect of stock options | — | — | |||||||
Average diluted shares outstanding | 7,416,716 | 7,488,445 | |||||||
Net income per share available to common shareholders, diluted | $ | 0.05 | $ | 0.13 | |||||
Stock_Compensation_Tables
Stock Compensation (Tables) | 3 Months Ended | ||||
Mar. 31, 2014 | |||||
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 March 31, 2014: | |||||
Year Ending December 31, | Future | ||||
Expense | |||||
2014 | 88,685 | ||||
2015 | 101,302 | ||||
2016 | 48,272 | ||||
2017 | 3,125 | ||||
Total | $ | 241,384 | |||
Securities_Tables
Securities (Tables) | 3 Months Ended | ||||||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||||||
Investments Debt And Equity Securities [Abstract] | ' | ||||||||||||||||||||||||
Amortized Cost of Securities and their Estimated Fair Values | ' | ||||||||||||||||||||||||
The carrying amount of securities and their estimated fair values at March 31, 2014, were as follows: | |||||||||||||||||||||||||
March 31, 2014 | |||||||||||||||||||||||||
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 | $ | 122,736 | 1,942 | (1,839 | ) | 122,839 | |||||||||||||||||||
Taxable municipal bonds | 18,987 | 310 | (491 | ) | 18,806 | ||||||||||||||||||||
Tax free municipal bonds | 64,063 | 2,796 | (511 | ) | 66,348 | ||||||||||||||||||||
Trust preferred securities | 1,600 | — | (111 | ) | 1,489 | ||||||||||||||||||||
Commercial bonds | 2,000 | — | (6 | ) | 1,994 | ||||||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||||||
GNMA | 28,712 | 629 | (174 | ) | 29,167 | ||||||||||||||||||||
FNMA | 74,186 | 553 | (1,434 | ) | 73,305 | ||||||||||||||||||||
FHLMC | 1,215 | 30 | — | 1,245 | |||||||||||||||||||||
NON-AGENCY CMOs | 10,951 | 4 | (341 | ) | 10,614 | ||||||||||||||||||||
AGENCY CMOs | 15,813 | 152 | (234 | ) | 15,731 | ||||||||||||||||||||
$ | 340,263 | 6,416 | (5,141 | ) | 341,538 | ||||||||||||||||||||
The carrying amount of securities and their estimated fair values at December 31, 2013, was as follows: | |||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||
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 | $ | 120,608 | 1,856 | (2,441 | ) | 120,023 | |||||||||||||||||||
Taxable municipal bonds | 18,337 | 458 | (738 | ) | 18,057 | ||||||||||||||||||||
Tax free municipal bonds | 64,291 | 2,066 | (898 | ) | 65,459 | ||||||||||||||||||||
Trust preferred securities | 1,600 | — | (111 | ) | 1,489 | ||||||||||||||||||||
Commercial bonds | 2,000 | — | (16 | ) | 1,984 | ||||||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||||||
GNMA | 17,327 | 590 | (142 | ) | 17,775 | ||||||||||||||||||||
FNMA | 70,104 | 526 | (1,938 | ) | 68,692 | ||||||||||||||||||||
FHLMC | 1,301 | 35 | — | 1,336 | |||||||||||||||||||||
SLMA CMO | 8,459 | — | (374 | ) | 8,085 | ||||||||||||||||||||
AGENCY CMOs | 16,296 | 134 | (420 | ) | 16,010 | ||||||||||||||||||||
$ | 320,323 | 5,665 | (7,078 | ) | 318,910 | ||||||||||||||||||||
Maturities of Debt Securities Available for Sale | ' | ||||||||||||||||||||||||
The scheduled maturities of debt securities available for sale at March 31, 2014, were as follows: | |||||||||||||||||||||||||
March 31, 2014 | Amortized | Estimated | |||||||||||||||||||||||
Cost | Fair | ||||||||||||||||||||||||
Value | |||||||||||||||||||||||||
Due within one year | $ | 501 | $ | 503 | |||||||||||||||||||||
Due in one to five years | 16,131 | 16,379 | |||||||||||||||||||||||
Due in five to ten years | 44,634 | 44,675 | |||||||||||||||||||||||
Due after ten years | 42,244 | 43,094 | |||||||||||||||||||||||
103,510 | 104,651 | ||||||||||||||||||||||||
Amortizing agency bonds | 105,876 | 106,825 | |||||||||||||||||||||||
Mortgage-backed securities | 130,877 | 130,062 | |||||||||||||||||||||||
Total unrestricted securities available for sale | $ | 340,263 | $ | 341,538 | |||||||||||||||||||||
The scheduled maturities of debt securities available for sale at December 31, 2013, were as follows: | |||||||||||||||||||||||||
December 31, 2013 | Amortized | Estimated | |||||||||||||||||||||||
Cost | Fair | ||||||||||||||||||||||||
Value | |||||||||||||||||||||||||
Due within one year | $ | 501 | $ | 505 | |||||||||||||||||||||
Due in one to five years | 12,630 | 12,954 | |||||||||||||||||||||||
Due in five to ten years | 38,192 | 37,364 | |||||||||||||||||||||||
Due after ten years | 49,284 | 49,314 | |||||||||||||||||||||||
100,607 | 100,137 | ||||||||||||||||||||||||
Amortizing agency bonds | 106,229 | 106,875 | |||||||||||||||||||||||
Mortgage-backed securities | 113,487 | 111,898 | |||||||||||||||||||||||
Total unrestricted securities available for sale | $ | 320,323 | $ | 318,910 | |||||||||||||||||||||
Estimated Fair Value and Unrealized Loss Amounts of Impaired Investments | ' | ||||||||||||||||||||||||
The estimated fair value and unrealized loss amounts of temporarily impaired investments as of March 31, 2014, 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 | Losses | ||||||||||||||||||||
Value | |||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||
Available for sale | |||||||||||||||||||||||||
U.S. government and agency securities: | |||||||||||||||||||||||||
Agency debt securities | $ | 37,596 | (1,186 | ) | 12,687 | (653 | ) | 50,283 | (1,839 | ) | |||||||||||||||
Taxable municipals | 6,727 | (236 | ) | 4,127 | (255 | ) | 10,854 | (491 | ) | ||||||||||||||||
Tax free municipals | 4,547 | (109 | ) | 7,089 | (402 | ) | 11,636 | (511 | ) | ||||||||||||||||
Trust preferred securities | — | — | 1,489 | (111 | ) | 1,489 | (111 | ) | |||||||||||||||||
Commercial bonds | 1,994 | (6 | ) | — | — | 1,994 | (6 | ) | |||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||||||
GNMA | 15,190 | (167 | ) | 805 | (7 | ) | 15,995 | (174 | ) | ||||||||||||||||
FNMA | 33,463 | (950 | ) | 9,416 | (484 | ) | 42,879 | (1,434 | ) | ||||||||||||||||
SLMA CMOs | 3,410 | (198 | ) | 1,798 | (143 | ) | 5,208 | (341 | ) | ||||||||||||||||
AGENCY CMOs | 7,565 | (70 | ) | 1,877 | (164 | ) | 9,442 | (234 | ) | ||||||||||||||||
Total available for sale | $ | 110,492 | (2,922 | ) | 39,288 | (2,219 | ) | 149,780 | (5,141 | ) | |||||||||||||||
The estimated fair value and unrealized loss amounts of temporarily impaired investments as of December 31, 2013, 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 | Losses | ||||||||||||||||||||
Value | |||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||
Available for sale | |||||||||||||||||||||||||
U.S. government and agency securities: | |||||||||||||||||||||||||
Agency debt securities | $ | 44,968 | (2,107 | ) | 6,793 | (334 | ) | 51,761 | (2,441 | ) | |||||||||||||||
Taxable municipal bonds | 7,903 | (660 | ) | 797 | (78 | ) | 8,700 | (738 | ) | ||||||||||||||||
Tax free municipal bonds | 9,848 | (692 | ) | 3,720 | (206 | ) | 13,568 | (898 | ) | ||||||||||||||||
Trust preferred securities | — | — | 1,489 | (111 | ) | 1,489 | (111 | ) | |||||||||||||||||
Commercial bonds | 1,984 | (16 | ) | — | — | 1,984 | (16 | ) | |||||||||||||||||
Mortgage-backed securities: | |||||||||||||||||||||||||
GNMA | 5,320 | (128 | ) | 1,551 | (14 | ) | 6,871 | (142 | ) | ||||||||||||||||
FNMA | 42,464 | (1,626 | ) | 6,746 | (312 | ) | 49,210 | (1,938 | ) | ||||||||||||||||
NON-AGENCY SLMA CMOs | 5,224 | (374 | ) | — | — | 5,224 | (374 | ) | |||||||||||||||||
AGENCY CMOs | 7,031 | (223 | ) | 1,844 | (197 | ) | 8,875 | (420 | ) | ||||||||||||||||
Total available for sale | $ | 124,742 | (5,826 | ) | 22,940 | (1,252 | ) | 147,682 | (7,078 | ) | |||||||||||||||
Loans_Tables
Loans (Tables) | 3 Months Ended | ||||||||||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||||||||||
Receivables [Abstract] | ' | ||||||||||||||||||||||||||||
Composition of Loan Portfolio by Type of Loan | ' | ||||||||||||||||||||||||||||
At March 31, 2014 and December 31, 2013, there were no concentrations of loans exceeding 10% of total loans other than as disclosed below: | |||||||||||||||||||||||||||||
March 31, 2014 | March 31, 2014 | December 31, 2013 | December 31, 2013 | ||||||||||||||||||||||||||
Amount | Percent | Amount | Percent | ||||||||||||||||||||||||||
(Dollars in thousands, except percentages) | |||||||||||||||||||||||||||||
Real estate loans: | |||||||||||||||||||||||||||||
One-to-four family (closed end) first mortgages | $ | 153,957 | 28.2 | % | $ | 155,252 | 28.1 | % | |||||||||||||||||||||
Second mortgages (closed end) | 2,829 | 0.5 | % | 3,248 | 0.6 | % | |||||||||||||||||||||||
Home equity lines of credit | 33,947 | 6.2 | % | 34,103 | 6.2 | % | |||||||||||||||||||||||
Multi-family | 28,770 | 5.3 | % | 29,736 | 5.4 | % | |||||||||||||||||||||||
Construction | 11,278 | 2.1 | % | 10,618 | 1.9 | % | |||||||||||||||||||||||
Land | 34,154 | 6.3 | % | 34,681 | 6.3 | % | |||||||||||||||||||||||
Farmland | 47,608 | 8.7 | % | 51,868 | 9.4 | % | |||||||||||||||||||||||
Non-residential real estate | 154,083 | 28.3 | % | 157,692 | 28.5 | % | |||||||||||||||||||||||
Total mortgage loans | 466,626 | 85.6 | % | 477,198 | 86.4 | % | |||||||||||||||||||||||
Consumer loans | 15,260 | 2.8 | % | 11,167 | 2 | % | |||||||||||||||||||||||
Commercial loans | 63,098 | 11.6 | % | 64,041 | 11.6 | % | |||||||||||||||||||||||
Total other loans | 78,358 | 14.4 | % | 75,208 | 13.6 | % | |||||||||||||||||||||||
Total loans, gross | 544,984 | 100 | % | 552,406 | 100 | % | |||||||||||||||||||||||
Deferred loan cost, net of income | (120 | ) | (92 | ) | |||||||||||||||||||||||||
Less allowance for loan losses | (8,913 | ) | (8,682 | ) | |||||||||||||||||||||||||
Total loans | $ | 535,951 | $ | 543,632 | |||||||||||||||||||||||||
Non-residential Real Estate Loan Portfolio | ' | ||||||||||||||||||||||||||||
At March 31, 2014, and December 31, 2013, the Bank’s non-residential real estate loan portfolio was made up of the following loan types: | |||||||||||||||||||||||||||||
Balance | Balance | ||||||||||||||||||||||||||||
March 31, 2014 | December 31, 2013 | ||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
Land | $ | 34,154 | $ | 34,681 | |||||||||||||||||||||||||
Manufacturing | 3,907 | 3,962 | |||||||||||||||||||||||||||
Professional, Technical | 1,784 | 1,819 | |||||||||||||||||||||||||||
Retail Trade | 11,902 | 10,916 | |||||||||||||||||||||||||||
Other Services | 18,846 | 21,307 | |||||||||||||||||||||||||||
Finance and Insurance | 2,439 | 1,862 | |||||||||||||||||||||||||||
Agricultural, Forestry, Fishing & Hunting | 47,608 | 51,868 | |||||||||||||||||||||||||||
Real Estate and Rental and Leasing | 55,778 | 55,692 | |||||||||||||||||||||||||||
Wholesale Trade | 21,486 | 21,852 | |||||||||||||||||||||||||||
Arts, Entertainment and Recreation | 3,656 | 3,015 | |||||||||||||||||||||||||||
Accommodations / Food Service | 24,004 | 26,552 | |||||||||||||||||||||||||||
Healthcare and Social Assistance | 6,668 | 6,862 | |||||||||||||||||||||||||||
Transportation and Warehousing | 1,069 | 1,101 | |||||||||||||||||||||||||||
Information | 2,309 | 2,390 | |||||||||||||||||||||||||||
Admin Support / Waste Mgmt | 235 | 362 | |||||||||||||||||||||||||||
Total | $ | 235,845 | $ | 244,241 | |||||||||||||||||||||||||
Non-accrual Loans | ' | ||||||||||||||||||||||||||||
The following table indicates the type and level of non-accrual loans at the periods indicated below: | |||||||||||||||||||||||||||||
March 31, 2014 | December 31, 2013 | March 31, 2013 | |||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
One-to-four family mortgages | $ | 1,056 | 945 | 1,883 | |||||||||||||||||||||||||
Home equity line of credit | 49 | 1 | 66 | ||||||||||||||||||||||||||
Junior lien | 1 | 2 | 3 | ||||||||||||||||||||||||||
Multi-family | — | — | — | ||||||||||||||||||||||||||
Construction | — | 175 | 177 | ||||||||||||||||||||||||||
Land | 1,217 | 1,218 | 2,754 | ||||||||||||||||||||||||||
Non-residential real estate | 6,585 | 6,546 | 951 | ||||||||||||||||||||||||||
Farmland | 669 | 703 | 545 | ||||||||||||||||||||||||||
Consumer loans | 2 | 13 | 65 | ||||||||||||||||||||||||||
Commercial loans | 453 | 463 | 592 | ||||||||||||||||||||||||||
Total non-accrual loans | $ | 10,032 | 10,066 | 7,036 | |||||||||||||||||||||||||
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 three month period ended March 31, 2014: | |||||||||||||||||||||||||||||
Balance | Charge off | Recovery | Specific | General | Ending | ||||||||||||||||||||||||
12/31/13 | 2014 | 2014 | Provision | Provision | Balance | ||||||||||||||||||||||||
2014 | 2014 | 3/31/14 | |||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
One-to-four family mortgages | $ | 2,048 | (35 | ) | 8 | (10 | ) | 125 | 2,136 | ||||||||||||||||||||
Home equity line of credit | 218 | — | 1 | — | — | 219 | |||||||||||||||||||||||
Junior liens | 39 | — | 5 | 4 | (22 | ) | 26 | ||||||||||||||||||||||
Multi-family | 466 | — | — | — | (134 | ) | 332 | ||||||||||||||||||||||
Construction | 88 | (8 | ) | 2 | (6 | ) | 4 | 80 | |||||||||||||||||||||
Land | 1,305 | — | — | 41 | (133 | ) | 1,213 | ||||||||||||||||||||||
Non-residential real estate | 2,719 | — | — | (80 | ) | 250 | 2,889 | ||||||||||||||||||||||
Farmland | 510 | — | — | — | 237 | 747 | |||||||||||||||||||||||
Consumer loans | 541 | (103 | ) | 31 | (137 | ) | 343 | 675 | |||||||||||||||||||||
Commercial loans | 748 | (50 | ) | — | (50 | ) | (52 | ) | 596 | ||||||||||||||||||||
Total | $ | 8,682 | (196 | ) | 47 | (238 | ) | 618 | 8,913 | ||||||||||||||||||||
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, 2013: | |||||||||||||||||||||||||||||
Balance | Charge off | Recovery | Specific | General | Ending | ||||||||||||||||||||||||
12/31/12 | 2013 | 2013 | Provision | Provision | Balance | ||||||||||||||||||||||||
2013 | 2013 | 12/31/13 | |||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
One-to-four family mortgages | $ | 2,490 | (852 | ) | 329 | (285 | ) | 366 | 2,048 | ||||||||||||||||||||
Home equity line of credit | 374 | (22 | ) | 9 | (88 | ) | (55 | ) | 218 | ||||||||||||||||||||
Junior liens | 230 | (119 | ) | 71 | 5 | (148 | ) | 39 | |||||||||||||||||||||
Multi-family | 524 | (38 | ) | 164 | (20 | ) | (164 | ) | 466 | ||||||||||||||||||||
Construction | 256 | — | — | (168 | ) | — | 88 | ||||||||||||||||||||||
Land | 2,184 | (1,432 | ) | 9 | (718 | ) | 1,262 | 1,305 | |||||||||||||||||||||
Non-residential real estate | 2,921 | (1,041 | ) | 14 | 757 | 68 | 2,719 | ||||||||||||||||||||||
Farmland | 712 | — | — | (202 | ) | — | 510 | ||||||||||||||||||||||
Consumer loans | 338 | (649 | ) | 246 | 228 | 378 | 541 | ||||||||||||||||||||||
Commercial loans | 619 | (291 | ) | 32 | 437 | (49 | ) | 748 | |||||||||||||||||||||
Total | $ | 10,648 | (4,444 | ) | 874 | (54 | ) | 1,658 | 8,682 | ||||||||||||||||||||
Past Due and Non-accrual Balances by Loan Classification | ' | ||||||||||||||||||||||||||||
The table below presents past due and non-accrual balances at March 31, 2014, by loan classification allocated between performing and non-performing: | |||||||||||||||||||||||||||||
March 31, 2014 | Currently | 30 - 89 | Non-accrual | Special | Impaired Loans | ||||||||||||||||||||||||
Days | Currently Performing | ||||||||||||||||||||||||||||
Performing | Past Due | Loans | Mention | Substandard | Doubtful | Total | |||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
One-to-four family mortgages | $ | 150,107 | 610 | 1,056 | 904 | 1,280 | — | 153,957 | |||||||||||||||||||||
Home equity line of credit | 33,256 | 148 | 49 | — | 494 | — | 33,947 | ||||||||||||||||||||||
Junior liens | 2,764 | — | 1 | 42 | 22 | — | 2,829 | ||||||||||||||||||||||
Multi-family | 23,871 | — | — | 4,899 | — | — | 28,770 | ||||||||||||||||||||||
Construction | 11,278 | — | — | — | — | — | 11,278 | ||||||||||||||||||||||
Land | 15,982 | 76 | 1,217 | 3,464 | 13,415 | — | 34,154 | ||||||||||||||||||||||
Non-residential real estate | 141,228 | 47 | 6,585 | 488 | 5,735 | — | 154,083 | ||||||||||||||||||||||
Farmland | 41,605 | — | 669 | 345 | 4,989 | — | 47,608 | ||||||||||||||||||||||
Consumer loans | 14,576 | 28 | 2 | — | 654 | — | 15,260 | ||||||||||||||||||||||
Commercial loans | 58,633 | 189 | 453 | 1,399 | 2,424 | — | 63,098 | ||||||||||||||||||||||
Total | $ | 493,300 | 1,098 | 10,032 | 11,541 | 29,013 | — | 544,984 | |||||||||||||||||||||
The table below presents past due and non-accrual balances at December 31, 2013, by loan classification allocated between performing and non-performing: | |||||||||||||||||||||||||||||
Currently | 30 - 89 | Non-accrual | Special | Impaired Loans | |||||||||||||||||||||||||
Days | Currently Performing | ||||||||||||||||||||||||||||
December 31, 2013 | Performing | Past Due | Loans | Mention | Substandard | Doubtful | Total | ||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
One-to-four family mortgages | $ | 148,759 | 592 | 945 | 814 | 4,142 | — | 155,252 | |||||||||||||||||||||
Home equity line of credit | 33,369 | 93 | 1 | — | 640 | — | 34,103 | ||||||||||||||||||||||
Junior liens | 3,126 | — | 2 | 43 | 77 | — | 3,248 | ||||||||||||||||||||||
Multi-family | 29,736 | — | — | — | — | — | 29,736 | ||||||||||||||||||||||
Construction | 10,443 | — | 175 | — | — | — | 10,618 | ||||||||||||||||||||||
Land | 19,899 | — | 1,218 | 52 | 13,512 | — | 34,681 | ||||||||||||||||||||||
Non-residential real estate | 142,701 | 343 | 6,546 | 515 | 7,587 | — | 157,692 | ||||||||||||||||||||||
Farmland | 46,042 | — | 703 | 480 | 4,643 | — | 51,868 | ||||||||||||||||||||||
Consumer loans | 10,493 | 234 | 13 | — | 427 | — | 11,167 | ||||||||||||||||||||||
Commercial loans | 61,379 | 123 | 463 | 526 | 1,550 | — | 64,041 | ||||||||||||||||||||||
Total | $ | 505,947 | 1,385 | 10,066 | 2,430 | 32,578 | — | 552,406 | |||||||||||||||||||||
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 March 31, 2014, were as follows: | |||||||||||||||||||||||||||||
March 31, 2014 | Pass | Special | Total | Specific | Allowance | ||||||||||||||||||||||||
Mention | Impaired Loans | Allowance | for | ||||||||||||||||||||||||||
for | Performing | ||||||||||||||||||||||||||||
Substandard | Doubtful | Impairment | Loans | ||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
One-to-four family mortgages | $ | 150,717 | 904 | 2,336 | — | 153,957 | 580 | 1,556 | |||||||||||||||||||||
Home equity line of credit | 33,404 | — | 543 | — | 33,947 | — | 219 | ||||||||||||||||||||||
Junior liens | 2,764 | 42 | 23 | — | 2,829 | — | 26 | ||||||||||||||||||||||
Multi-family | 23,871 | 4,899 | — | — | 28,770 | — | 332 | ||||||||||||||||||||||
Construction | 11,278 | — | — | — | 11,278 | — | 80 | ||||||||||||||||||||||
Land | 16,058 | 3,464 | 14,632 | — | 34,154 | 730 | 483 | ||||||||||||||||||||||
Non-residential real estate | 141,275 | 488 | 12,320 | — | 154,083 | 546 | 2,343 | ||||||||||||||||||||||
Farmland | 41,605 | 345 | 5,658 | — | 47,608 | — | 747 | ||||||||||||||||||||||
Consumer loans | 14,604 | — | 656 | — | 15,260 | 160 | 515 | ||||||||||||||||||||||
Commercial loans | 58,822 | 1,399 | 2,877 | — | 63,098 | — | 596 | ||||||||||||||||||||||
Total | $ | 494,398 | 11,541 | 39,045 | — | 544,984 | 2,016 | 6,897 | |||||||||||||||||||||
A summary of the Company’s impaired loans and their respective reserve at December 31, 2013, were as follows: | |||||||||||||||||||||||||||||
December 31, 2013 | Pass | Special | Total | Allowance | Allowance | ||||||||||||||||||||||||
Mention | Impaired Loans | for | for | ||||||||||||||||||||||||||
Impairment | Performing | ||||||||||||||||||||||||||||
Substandard | Doubtful | Loans | |||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||
One-to-four family mortgages | $ | 149,351 | 814 | 5,087 | — | 155,252 | 597 | 1,451 | |||||||||||||||||||||
Home equity line of credit | 33,462 | — | 641 | — | 34,103 | — | 218 | ||||||||||||||||||||||
Junior liens | 3,126 | 43 | 79 | — | 3,248 | — | 39 | ||||||||||||||||||||||
Multi-family | 29,736 | — | — | — | 29,736 | — | 466 | ||||||||||||||||||||||
Construction | 10,443 | — | 175 | — | 10,618 | — | 88 | ||||||||||||||||||||||
Land | 19,899 | 52 | 14,730 | — | 34,681 | 771 | 534 | ||||||||||||||||||||||
Non-residential real estate | 143,044 | 515 | 14,133 | — | 157,692 | 465 | 2,254 | ||||||||||||||||||||||
Farmland | 46,042 | 480 | 5,346 | — | 51,868 | — | 510 | ||||||||||||||||||||||
Consumer loans | 10,727 | — | 440 | — | 11,167 | 96 | 445 | ||||||||||||||||||||||
Commercial loans | 61,502 | 526 | 2,013 | — | 64,041 | — | 748 | ||||||||||||||||||||||
Total | $ | 507,332 | 2,430 | 42,644 | — | 552,406 | 1,929 | 6,753 | |||||||||||||||||||||
Impaired Loans by Classification Type | ' | ||||||||||||||||||||||||||||
Impaired loans by classification type and the related valuation allowance amounts at March 31, 2014, were as follows: | |||||||||||||||||||||||||||||
At March 31, 2014 | For the three month period ended | ||||||||||||||||||||||||||||
March 31, 2014 | |||||||||||||||||||||||||||||
Impaired loans with no recorded reserve | Recorded | Unpaid | Related | Average | Interest | ||||||||||||||||||||||||
Investment | Principal | Allowance | Recorded | Income | |||||||||||||||||||||||||
Balance | Investment | Recognized | |||||||||||||||||||||||||||
One-to-four family mortgages | $ | 481 | 481 | — | 1,849 | 2 | |||||||||||||||||||||||
Home equity line of credit | 543 | 543 | — | 592 | 3 | ||||||||||||||||||||||||
Junior liens | 23 | 23 | — | 51 | 1 | ||||||||||||||||||||||||
Multi-family | — | — | — | — | — | ||||||||||||||||||||||||
Construction | — | — | — | 88 | — | ||||||||||||||||||||||||
Land | 11,106 | 11,106 | — | 10,994 | 201 | ||||||||||||||||||||||||
Farmland | 5,658 | 5,658 | 8,217 | 102 | |||||||||||||||||||||||||
Non-residential real estate | 8,987 | 8,987 | — | 7,167 | 157 | ||||||||||||||||||||||||
Consumer loans | 14 | 14 | — | 35 | — | ||||||||||||||||||||||||
Commercial loans | 2,877 | 2,877 | — | 2,445 | 106 | ||||||||||||||||||||||||
Total | 29,689 | 29,689 | — | 31,438 | 572 | ||||||||||||||||||||||||
Impaired loans with recorded reserve | |||||||||||||||||||||||||||||
One-to-four family mortgages | 1,855 | 1,855 | 580 | 1,863 | 6 | ||||||||||||||||||||||||
Home equity line of credit | — | — | — | — | — | ||||||||||||||||||||||||
Junior liens | — | — | — | — | — | ||||||||||||||||||||||||
Multi-family | — | — | — | — | — | ||||||||||||||||||||||||
Construction | — | — | — | — | — | ||||||||||||||||||||||||
Land | 3,526 | 5,039 | 730 | 3,687 | 23 | ||||||||||||||||||||||||
Farmland | — | — | — | — | — | ||||||||||||||||||||||||
Non-residential real estate | 3,333 | 4,118 | 546 | 3,346 | 76 | ||||||||||||||||||||||||
Consumer loans | 642 | 642 | 160 | 513 | — | ||||||||||||||||||||||||
Commercial loans | — | — | — | — | — | ||||||||||||||||||||||||
Total | 9,356 | 11,654 | 2,016 | 9,409 | 105 | ||||||||||||||||||||||||
Total impaired loans | $ | 39,045 | 41,343 | 2,016 | 40,847 | 677 | |||||||||||||||||||||||
Impaired loans by classification type and the related valuation allowance amounts at December 31, 2013, were as follows: | |||||||||||||||||||||||||||||
At December 31, 2013 | For the year ended | ||||||||||||||||||||||||||||
31-Dec-13 | |||||||||||||||||||||||||||||
Impaired loans with no recorded reserve | Recorded | Unpaid | Related | Average | Interest | ||||||||||||||||||||||||
Investment | Principal | Allowance | Recorded | Income | |||||||||||||||||||||||||
Balance | Investment | Recognized | |||||||||||||||||||||||||||
One-to-four family mortgages | $ | 3,216 | 3,216 | — | 2,361 | 8 | |||||||||||||||||||||||
Home equity line of credit | 641 | 641 | — | 564 | 3 | ||||||||||||||||||||||||
Junior liens | 79 | 79 | — | 239 | 1 | ||||||||||||||||||||||||
Multi-family | — | — | — | 990 | — | ||||||||||||||||||||||||
Construction | 175 | 175 | — | 1,072 | 5 | ||||||||||||||||||||||||
Land | 10,882 | 12,315 | — | 10,668 | 186 | ||||||||||||||||||||||||
Farmland | 5,346 | 5,346 | — | 6,955 | 149 | ||||||||||||||||||||||||
Non-residential real estate | 10,775 | 10,775 | — | 6,196 | 263 | ||||||||||||||||||||||||
Consumer loans | 56 | 56 | — | 48 | — | ||||||||||||||||||||||||
Commercial loans | 2,013 | 2,013 | — | 2,391 | 95 | ||||||||||||||||||||||||
Total | 33,183 | 34,616 | — | 31,484 | 710 | ||||||||||||||||||||||||
Impaired loans with recorded reserve | |||||||||||||||||||||||||||||
One-to-four family mortgages | 1,871 | 1,871 | 597 | 2,501 | 9 | ||||||||||||||||||||||||
Home equity line of credit | — | — | — | 279 | — | ||||||||||||||||||||||||
Junior liens | — | — | — | 113 | — | ||||||||||||||||||||||||
Multi-family | — | — | — | — | — | ||||||||||||||||||||||||
Construction | — | — | — | 1,385 | — | ||||||||||||||||||||||||
Land | 3,848 | 3,848 | 771 | 2,741 | 29 | ||||||||||||||||||||||||
Farmland | — | — | — | 1,601 | — | ||||||||||||||||||||||||
Non-residential real estate | 3,358 | 4,222 | 465 | 2,243 | 111 | ||||||||||||||||||||||||
Consumer loans | 384 | 384 | 96 | 401 | — | ||||||||||||||||||||||||
Commercial loans | — | — | — | 346 | — | ||||||||||||||||||||||||
Total | $ | 9,461 | 10,325 | 1,929 | 11,610 | 149 | |||||||||||||||||||||||
Total impaired loans | $ | 42,644 | 44,941 | 1,929 | 43,094 | 859 | |||||||||||||||||||||||
Real_Estate_and_Other_Assets_O1
Real Estate and Other Assets Owned (Tables) | 3 Months Ended | ||||||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||||||
Banking And Thrift [Abstract] | ' | ||||||||||||||||||||||||
Presentation of Balances in Other Real Estate and Assets Owned and Non-Accrual Loans Consisting Other Non-Performing Loan | ' | ||||||||||||||||||||||||
At March 31, 2014, December 31, 2013, and March 31, 2013, the Company had balances in other real estate and assets owned consisting of the following: | |||||||||||||||||||||||||
March 31, 2014 | December 31, 2013 | March 31, 2013 | |||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||
One-to-four family mortgages | $ | 446 | 350 | 295 | |||||||||||||||||||||
Land | 1,034 | 1,124 | 1,112 | ||||||||||||||||||||||
Non-residential real estate | 200 | 200 | 73 | ||||||||||||||||||||||
Total other assets owned | $ | 1,680 | 1,674 | 1,480 | |||||||||||||||||||||
Total non-accrual loans | $ | 10,032 | 10,066 | 7,036 | |||||||||||||||||||||
Total non-performing assets | $ | 11,712 | 11,740 | 8,516 | |||||||||||||||||||||
Non-performing assets / Total assets | 1.21 | % | 1.21 | % | 0.86 | % | |||||||||||||||||||
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 three month period ending March 31, 2014: | |||||||||||||||||||||||||
Activity During 2014 | |||||||||||||||||||||||||
Balance | Foreclosures | Proceeds | Reduction | Gain (Loss) | Balance | ||||||||||||||||||||
12/31/13 | in Values | on Sale | 3/31/14 | ||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||
One-to-four family mortgages | $ | 350 | 166 | (66 | ) | — | (4 | ) | $ | 446 | |||||||||||||||
Multi-family | — | — | — | — | — | — | |||||||||||||||||||
Construction | — | — | — | — | — | — | |||||||||||||||||||
Land | 1,124 | — | (71 | ) | — | (19 | ) | 1,034 | |||||||||||||||||
Non-residential real estate | 200 | — | — | — | — | 200 | |||||||||||||||||||
Consumer assets | — | — | — | — | — | — | |||||||||||||||||||
Total | $ | 1,674 | 166 | (137 | ) | — | (23 | ) | $ | 1,680 | |||||||||||||||
The following is a summary of the activity in the Company’s real estate and other assets owned for the year ended December 31, 2013: | |||||||||||||||||||||||||
Activity During 2013 | |||||||||||||||||||||||||
Balance | Foreclosures | Proceeds | Reduction | Gain (Loss) | Balance | ||||||||||||||||||||
12/31/12 | in Values | on Sale | 12/31/13 | ||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||
One-to-four family mortgages | $ | 258 | 1,052 | (938 | ) | (26 | ) | 4 | $ | 350 | |||||||||||||||
Multi-family | — | — | — | — | — | — | |||||||||||||||||||
Construction | 130 | — | (110 | ) | (110 | ) | 90 | — | |||||||||||||||||
Land | 1,112 | 80 | — | (68 | ) | — | 1,124 | ||||||||||||||||||
Non-residential real estate | 44 | 240 | (60 | ) | (11 | ) | (13 | ) | 200 | ||||||||||||||||
Consumer assets | 4 | 7 | (5 | ) | (4 | ) | (2 | ) | — | ||||||||||||||||
Total | $ | 1,548 | 1,379 | (1,113 | ) | (219 | ) | 79 | $ | 1,674 | |||||||||||||||
Investments_in_Affiliated_Comp1
Investments in Affiliated Companies (Tables) | 3 Months Ended | ||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||
Equity Method Investments And Joint Ventures [Abstract] | ' | ||||||||||||||||
Summary of Statements of Financial Condition | ' | ||||||||||||||||
Summary Statements of Financial Condition | At | At | |||||||||||||||
March 31, 2014 | December 31, 2013 | ||||||||||||||||
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 Statements of Income | ' | ||||||||||||||||
Summary Statement of Income | |||||||||||||||||
Three Month Periods | |||||||||||||||||
Ended March 31, | |||||||||||||||||
2014 | 2013 | ||||||||||||||||
Income – interest income from subordinated debentures issued by HopFed Bancorp, Inc. | $ | 86 | 88 | ||||||||||||||
Net income | $ | 86 | 88 | ||||||||||||||
Summary of Statement of Stockholder's Equity | ' | ||||||||||||||||
Summary Statement of Stockholders’ Equity | |||||||||||||||||
Trust | Common | Retained | Total | ||||||||||||||
Preferred | Stock | Earnings | Stockholders’ | ||||||||||||||
Securities | Equity | ||||||||||||||||
Beginning balances, December 31, 2013 | $ | 10,000 | 310 | — | 10,310 | ||||||||||||
Net income | — | — | 86 | 86 | |||||||||||||
Dividends: | |||||||||||||||||
Trust preferred securities | — | — | (83 | ) | (83 | ) | |||||||||||
Common paid to HopFed Bancorp, Inc. | — | — | (3 | ) | (3 | ) | |||||||||||
Ending balances, March 31, 2014 | $ | 10,000 | 310 | — | 10,310 | ||||||||||||
Fair_Value_of_Assets_and_Liabi1
Fair Value of Assets and Liabilities (Tables) | 3 Months Ended | ||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||
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 March 31, 2014, are summarized below: | |||||||||||||||||||||
March 31, 2014 | Total carrying | Quoted Prices | Significant | Significant | |||||||||||||||||
value in the | In Active | Other | |||||||||||||||||||
Description | consolidated | Markets for | Observable | Unobservable | |||||||||||||||||
balance sheet at | Identical Assets | Inputs | Inputs | ||||||||||||||||||
March 31, 2014 | (Level 1) | (Level 2) | (Level 3) | ||||||||||||||||||
Assets | |||||||||||||||||||||
Available for sale securities | $ | 341,538 | — | 340,049 | 1,489 | ||||||||||||||||
Bank owned life insurance | $ | 9,764 | — | 9,764 | — | ||||||||||||||||
Liabilities | |||||||||||||||||||||
Interest rate swap | $ | 675 | — | 675 | — | ||||||||||||||||
The assets and liabilities measured at fair value on a recurring basis at December 31, 2013, are summarized below | |||||||||||||||||||||
December 31, 2013 | Total carrying | Quoted Prices | Significant | Significant | |||||||||||||||||
value in the | In Active | Other | Unobservable | ||||||||||||||||||
consolidated | Markets for | Observable | |||||||||||||||||||
Description | balance sheet at | Identical Assets | Inputs | Inputs | |||||||||||||||||
December 31, 2013 | (Level 1) | (Level 2) | (Level 3) | ||||||||||||||||||
Assets | |||||||||||||||||||||
Available for sale securities | $ | 318,910 | — | 317,421 | 1,489 | ||||||||||||||||
Bank owned life insurance | $ | 9,677 | — | 9,677 | — | ||||||||||||||||
Liabilities | |||||||||||||||||||||
Interest rate swap | $ | 750 | — | 750 | — | ||||||||||||||||
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 March 31, 2014: | |||||||||||||||||||||
31-Mar-14 | Total carrying | Quoted Prices | Significant | Significant | |||||||||||||||||
value in the | In Active | Other | Unobservable | ||||||||||||||||||
consolidated | Markets for | Observable | |||||||||||||||||||
Description | balance sheet at | Identical Assets | Inputs | Inputs | |||||||||||||||||
March 31, 2014 | (Level 1) | (Level 2) | (Level 3) | ||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||
Assets | |||||||||||||||||||||
Other real estate owned | $ | 1,680 | — | — | $ | 1,680 | |||||||||||||||
Impaired loans, net of reserve of $2,016 | $ | 37,029 | — | — | $ | 37,029 | |||||||||||||||
The assets and liabilities measured at fair value on a non-recurring basis are summarized below for December 31, 2013: | |||||||||||||||||||||
December 31, 2013 | Total carrying | Quoted Prices | Significant | Significant | |||||||||||||||||
value in the | In Active | Other | |||||||||||||||||||
Description | consolidated | Markets for | Observable | Unobservable | |||||||||||||||||
balance sheet at | Identical Assets | Inputs | Inputs | ||||||||||||||||||
December 31, 2013 | (Level 1) | (Level 2) | (Level 3) | ||||||||||||||||||
Assets | |||||||||||||||||||||
Other real estate owned | $ | 1,674 | — | — | $ | 1,674 | |||||||||||||||
Impaired loans, net of reserve of $1,929 | $ | 40,715 | — | — | $ | 40,715 | |||||||||||||||
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 three month periods ended March 31, 2014, and March 1, 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. | |||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||
Three month period ended March 31, | Other Assets | Other Liabilities | Other Assets | Other Liabilities | |||||||||||||||||
(Dollars in | |||||||||||||||||||||
Thousands) | |||||||||||||||||||||
Fair value, January 1, | $ | 1,489 | — | 1,489 | — | ||||||||||||||||
Change in unrealized losses included in other comprehensive income for assets and liabilities still held at March 31, | — | — | — | ||||||||||||||||||
Purchases, issuances and settlements, net | — | — | — | — | |||||||||||||||||
Transfers in and/or out of Level 3 | — | — | — | — | |||||||||||||||||
Fair value, March 31, | $ | 1,489 | — | 1,489 | — | ||||||||||||||||
Estimated Fair Values of Financial Instruments | ' | ||||||||||||||||||||
The estimated fair values of financial instruments were as follows at March 31, 2014: | |||||||||||||||||||||
Estimated | Quoted Prices | Using | Significant | ||||||||||||||||||
Fair | In Active Markets | Significant | Unobservable | ||||||||||||||||||
Value | for Identical | Other | Inputs | ||||||||||||||||||
Assets | Observable | Level 3 | |||||||||||||||||||
Level 1 | Inputs | ||||||||||||||||||||
Carrying | Level 2 | ||||||||||||||||||||
Amount | |||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||
Financial Assets: | |||||||||||||||||||||
Cash and due from banks | $ | 25,449 | 25,449 | $ | 25,449 | — | — | ||||||||||||||
Interest-earning deposits | 8,730 | 8,730 | 8,730 | — | — | ||||||||||||||||
Securities available for sale | 341,538 | 341,538 | — | 340,049 | 1,489 | ||||||||||||||||
Federal Home Loan Bank stock | 4,428 | 4,428 | — | 4,428 | — | ||||||||||||||||
Loans receivable | 535,951 | 539,482 | — | — | 539,482 | ||||||||||||||||
Accrued interest receivable | 4,447 | 4,447 | — | 4,447 | — | ||||||||||||||||
Bank owned life insurance | 9,764 | 9,764 | — | 9,764 | — | ||||||||||||||||
Financial liabilities: | |||||||||||||||||||||
Deposits | 761,526 | 761,328 | — | 761,328 | — | ||||||||||||||||
Advances from borrowers for taxes and insurance | 572 | 572 | — | 572 | — | ||||||||||||||||
Advances from Federal Home Loan Bank | 41,280 | 44,865 | — | 44,865 | — | ||||||||||||||||
Repurchase agreements | 50,129 | 50,910 | — | 50,910 | — | ||||||||||||||||
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 | 675 | 675 | — | 675 | — | ||||||||||||||||
The estimated fair values of financial instruments were as follows at December 31, 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 | $ | 37,229 | 37,229 | $ | 37,229 | — | — | ||||||||||||||
Interest-earning deposits | 18,619 | 18,619 | 18,619 | — | — | ||||||||||||||||
Securities available for sale | 318,910 | 318,910 | — | 317,421 | 1,489 | ||||||||||||||||
Federal Home Loan Bank stock | 4,428 | 4,428 | — | 4,428 | — | ||||||||||||||||
Loans receivable | 543,632 | 546,319 | — | — | 546,319 | ||||||||||||||||
Accrued interest receivable | 5,233 | 5,233 | — | 5,233 | — | ||||||||||||||||
Bank owned life insurance | 9,677 | 9,677 | — | 9,677 | — | ||||||||||||||||
Financial liabilities: | |||||||||||||||||||||
Deposits | 762,997 | 763,605 | — | 763,605 | — | ||||||||||||||||
Advances from borrowers for taxes and insurance | 521 | 521 | — | 521 | — | ||||||||||||||||
Advances from Federal Home Loan Bank | 46,780 | 51,010 | — | 51,010 | — | ||||||||||||||||
Repurchase agreements | 52,759 | 53,712 | — | 53,712 | — | ||||||||||||||||
Subordinated debentures | 10,310 | 10,099 | — | — | 10,099 | ||||||||||||||||
Off-balance-sheet liabilities: | — | ||||||||||||||||||||
Commitments to extend credit | — | — | — | — | — | ||||||||||||||||
Commercial letters of credit | — | — | — | — | — | ||||||||||||||||
Market value of interest rate swap | 750 | 750 | — | 750 | — |
Income_Per_Share_Reconciliatio
Income Per Share - Reconciliation of Basic and Diluted Income Per Share (Detail) (USD $) | 3 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Basic IPS: | ' | ' |
Net income available to common stockholders | $354 | $984 |
Average common shares outstanding | 7,416,716 | 7,488,445 |
Net income per share available to common shareholders, basic | $0.05 | $0.13 |
Diluted IPS | ' | ' |
Net income available to common stockholders | $354 | $984 |
Average common shares outstanding | 7,416,716 | 7,488,445 |
Dilutive effect of stock options | ' | ' |
Average diluted shares outstanding | 7,416,716 | 7,488,445 |
Net income per share available to common shareholders, diluted | $0.05 | $0.13 |
Stock_Compensation_Additional_
Stock Compensation - Additional Information (Detail) (USD $) | 3 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | |
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 | $31,000 | $22,000 |
Restricted Stock [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Shares of restricted stock issued | 0 | 227 |
Stock_Compensation_Companys_Fu
Stock Compensation - Company's Future Compensation Expense Related to Restricted Stock Vesting (Detail) (USD $) | Mar. 31, 2014 |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' |
2014 | $88,685 |
2015 | 101,302 |
2016 | 48,272 |
2017 | 3,125 |
Total | $241,384 |
Securities_Additional_Informat
Securities - Additional Information (Detail) (USD $) | Mar. 31, 2014 |
In Millions, unless otherwise specified | Agreement |
Securities | |
Investments Debt And Equity Securities [Abstract] | ' |
Number of securities with unrealized losses | 97 |
Securities pledged to municipalities for deposits in excess of FDIC limits, book value | $161.60 |
Securities pledged to municipalities for deposits in excess of FDIC limits, market value | 163.7 |
Letter of credit issued by FHLB | 13.5 |
Securities with market value sold under agreements to repurchase from various customers | 34.1 |
Number of wholesale repurchase agreements with third parties secured by investments | 2 |
Wholesale repurchase agreements with combined book value | 19.6 |
Wholesale repurchase agreements with combined market value | 19.2 |
Investment repurchase agreement one, amount | 6 |
Repurchase agreement one, maturity date | 18-Sep-16 |
Repurchase agreement one, interest rate | 4.36% |
Investment repurchase agreement two, amount | $10 |
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 $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | $340,263 | $320,323 |
Gross Unrealized Gains | 6,416 | 5,665 |
Gross Unrealized Losses | -5,141 | -7,078 |
Estimated Fair Value | 341,538 | 318,910 |
FHLB Stock [Member] | Restricted [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 4,428 | 4,428 |
Estimated Fair Value | 4,428 | 4,428 |
Agency Debt Securities [Member] | Available for Sale [Member] | US Government and Agency Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 122,736 | 120,608 |
Gross Unrealized Gains | 1,942 | 1,856 |
Gross Unrealized Losses | -1,839 | -2,441 |
Estimated Fair Value | 122,839 | 120,023 |
Taxable Municipals Bonds [Member] | Available for Sale [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 18,987 | 18,337 |
Gross Unrealized Gains | 310 | 458 |
Gross Unrealized Losses | -491 | -738 |
Estimated Fair Value | 18,806 | 18,057 |
Tax Free Municipals Bonds [Member] | Available for Sale [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 64,063 | 64,291 |
Gross Unrealized Gains | 2,796 | 2,066 |
Gross Unrealized Losses | -511 | -898 |
Estimated Fair Value | 66,348 | 65,459 |
Trust Preferred Securities [Member] | Available for Sale [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 1,600 | 1,600 |
Gross Unrealized Losses | -111 | -111 |
Estimated Fair Value | 1,489 | 1,489 |
Commercial Bonds [Member] | Available for Sale [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 2,000 | 2,000 |
Gross Unrealized Losses | -6 | -16 |
Estimated Fair Value | 1,994 | 1,984 |
GNMA [Member] | Mortgage-Backed Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 28,712 | 17,327 |
Gross Unrealized Gains | 629 | 590 |
Gross Unrealized Losses | -174 | -142 |
Estimated Fair Value | 29,167 | 17,775 |
FNMA [Member] | Mortgage-Backed Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 74,186 | 70,104 |
Gross Unrealized Gains | 553 | 526 |
Gross Unrealized Losses | -1,434 | -1,938 |
Estimated Fair Value | 73,305 | 68,692 |
FHLMC [Member] | Mortgage-Backed Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 1,215 | 1,301 |
Gross Unrealized Gains | 30 | 35 |
Estimated Fair Value | 1,245 | 1,336 |
Non-Agency SLMA CMOs [Member] | Mortgage-Backed Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 10,951 | 8,459 |
Gross Unrealized Gains | 4 | ' |
Gross Unrealized Losses | -341 | -374 |
Estimated Fair Value | 10,614 | 8,085 |
Agency CMOs [Member] | Mortgage-Backed Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 15,813 | 16,296 |
Gross Unrealized Gains | 152 | 134 |
Gross Unrealized Losses | -234 | -420 |
Estimated Fair Value | $15,731 | $16,010 |
Securities_Maturities_of_Debt_
Securities - Maturities of Debt Securities Available for Sale (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized cost of debt securities available for sale, due within one year | $501 | $501 |
Amortized cost of debt securities available for sale, due in one to five years | 16,131 | 12,630 |
Amortized cost of debt securities available for sale, due in five to ten years | 44,634 | 38,192 |
Amortized cost of debt securities available for sale, due after ten years | 42,244 | 49,284 |
Total amortized cost debt securities available for sale with specific maturities | 103,510 | 100,607 |
Total unrestricted securities available-for-sale at amortized cost | 340,263 | 320,323 |
Estimated fair value of debt securities available for sale, due within one year | 503 | 505 |
Estimated fair value of debt securities available for sale, due in one to five years | 16,379 | 12,954 |
Estimated fair value of debt securities available for sale, due in five to ten years | 44,675 | 37,364 |
Estimated fair value of debt securities available for sale, due after ten years | 43,094 | 49,314 |
Total estimated fair value of debt securities available for sale with specific maturities | 104,651 | 100,137 |
Total unrestricted securities available for sale at estimated fair value | 341,538 | 318,910 |
Amortizing Agency Bonds [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Total amortized cost of debt securities available for sale without specific maturities | 105,876 | 106,229 |
Total estimated fair value of debt securities available for sale without specific maturities | 106,825 | 106,875 |
Mortgage-Backed Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Total amortized cost of debt securities available for sale without specific maturities | 130,877 | 113,487 |
Total estimated fair value of debt securities available for sale without specific maturities | $130,062 | $111,898 |
Securities_Estimated_Fair_Valu
Securities - Estimated Fair Value and Unrealized Loss Amounts of Impaired Investments (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Estimated Fair Value, Less than 12 months | $110,492 | $124,742 |
Unrealized Losses, Less than 12 months | -2,922 | -5,826 |
Estimated Fair Value, 12 months or longer | 39,288 | 22,940 |
Unrealized Losses, 12 months or longer | -2,219 | -1,252 |
Estimated Fair Value | 149,780 | 147,682 |
Unrealized Losses | -5,141 | -7,078 |
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 | 37,596 | 44,968 |
Unrealized Losses, Less than 12 months | -1,186 | -2,107 |
Estimated Fair Value, 12 months or longer | 12,687 | 6,793 |
Unrealized Losses, 12 months or longer | -653 | -334 |
Estimated Fair Value | 50,283 | 51,761 |
Unrealized Losses | -1,839 | -2,441 |
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 | 6,727 | 7,903 |
Unrealized Losses, Less than 12 months | -236 | -660 |
Estimated Fair Value, 12 months or longer | 4,127 | 797 |
Unrealized Losses, 12 months or longer | -255 | -78 |
Estimated Fair Value | 10,854 | 8,700 |
Unrealized Losses | -491 | -738 |
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 | 4,547 | 9,848 |
Unrealized Losses, Less than 12 months | -109 | -692 |
Estimated Fair Value, 12 months or longer | 7,089 | 3,720 |
Unrealized Losses, 12 months or longer | -402 | -206 |
Estimated Fair Value | 11,636 | 13,568 |
Unrealized Losses | -511 | -898 |
Trust Preferred Securities [Member] | U.S. Government and Agency Securities [Member] | Temporarily Impaired Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Estimated Fair Value, 12 months or longer | 1,489 | 1,489 |
Unrealized Losses, 12 months or longer | -111 | -111 |
Estimated Fair Value | 1,489 | 1,489 |
Unrealized Losses | -111 | -111 |
Commercial 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 | 1,994 | 1,984 |
Unrealized Losses, Less than 12 months | -6 | -16 |
Estimated Fair Value | 1,994 | 1,984 |
Unrealized Losses | -6 | -16 |
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 | 15,190 | 5,320 |
Unrealized Losses, Less than 12 months | -167 | -128 |
Estimated Fair Value, 12 months or longer | 805 | 1,551 |
Unrealized Losses, 12 months or longer | -7 | -14 |
Estimated Fair Value | 15,995 | 6,871 |
Unrealized Losses | -174 | -142 |
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 | 33,463 | 42,464 |
Unrealized Losses, Less than 12 months | -950 | -1,626 |
Estimated Fair Value, 12 months or longer | 9,416 | 6,746 |
Unrealized Losses, 12 months or longer | -484 | -312 |
Estimated Fair Value | 42,879 | 49,210 |
Unrealized Losses | -1,434 | -1,938 |
Non-Agency SLMA 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 | 3,410 | 5,224 |
Unrealized Losses, Less than 12 months | -198 | -374 |
Estimated Fair Value, 12 months or longer | 1,798 | ' |
Unrealized Losses, 12 months or longer | -143 | ' |
Estimated Fair Value | 5,208 | 5,224 |
Unrealized Losses | -341 | -374 |
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 | 7,565 | 7,031 |
Unrealized Losses, Less than 12 months | -70 | -223 |
Estimated Fair Value, 12 months or longer | 1,877 | 1,844 |
Unrealized Losses, 12 months or longer | -164 | -197 |
Estimated Fair Value | 9,442 | 8,875 |
Unrealized Losses | ($234) | ($420) |
Loans_Additional_Information_D
Loans - Additional Information (Detail) (USD $) | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2013 | Dec. 31, 2013 | |
Receivables [Abstract] | ' | ' | ' | ' |
Minimum percentage of concentrations of loans | 10.00% | 10.00% | ' | 10.00% |
Concentrations of loans | $0 | $0 | ' | $0 |
Allowance for loan losses | 8,913,000 | 8,682,000 | 10,600,000 | 8,682,000 |
Ratio of the allowance for loan losses to total loans | 1.63% | ' | 1.95% | 1.57% |
Company's annualized net charge off ratios | 0.11% | 0.66% | 0.33% | ' |
Ratios of allowance for loan losses to non-accrual loans | 88.85% | 86.25% | 150.35% | 86.25% |
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 | 39,045,000 | 42,644,000 | 43,700,000 | 42,644,000 |
Related Allowance | 2,016,000 | 1,929,000 | 2,700,000 | 1,929,000 |
Total performing TDR | $0 | $0 | ' | $0 |
Loans_Composition_of_Loan_Port
Loans - Composition of Loan Portfolio by Type of Loan (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2013 |
In Thousands, unless otherwise specified | |||
Real estate loans: | ' | ' | ' |
Total loans, gross | $544,984 | $552,406 | ' |
Deferred loan cost, net of income | -120 | -92 | ' |
Less allowance for loan losses | -8,913 | -8,682 | -10,600 |
Total loans | 535,951 | 543,632 | ' |
Loans and Leases Receivable in Percentage | 100.00% | 100.00% | ' |
Real Estate Loans [Member] | ' | ' | ' |
Real estate loans: | ' | ' | ' |
Total loans, gross | 466,626 | 477,198 | ' |
Loans and Leases Receivable in Percentage | 85.60% | 86.40% | ' |
Consumer Loans [Member] | ' | ' | ' |
Real estate loans: | ' | ' | ' |
Total loans, gross | 15,260 | 11,167 | ' |
Loans and Leases Receivable in Percentage | 2.80% | 2.00% | ' |
Commercial Loans [Member] | ' | ' | ' |
Real estate loans: | ' | ' | ' |
Total loans, gross | 63,098 | 64,041 | ' |
Loans and Leases Receivable in Percentage | 11.60% | 11.60% | ' |
Total Other Loans [Member] | ' | ' | ' |
Real estate loans: | ' | ' | ' |
Total loans, gross | 78,358 | 75,208 | ' |
Loans and Leases Receivable in Percentage | 14.40% | 13.60% | ' |
One-to-Four Family Mortgages [Member] | ' | ' | ' |
Real estate loans: | ' | ' | ' |
Total loans, gross | 153,957 | 155,252 | ' |
One-to-Four Family Mortgages [Member] | Real Estate Loans [Member] | ' | ' | ' |
Real estate loans: | ' | ' | ' |
Total loans, gross | 153,957 | 155,252 | ' |
Loans and Leases Receivable in Percentage | 28.20% | 28.10% | ' |
Second Mortgages (Closed End) [Member] | Real Estate Loans [Member] | ' | ' | ' |
Real estate loans: | ' | ' | ' |
Total loans, gross | 2,829 | 3,248 | ' |
Loans and Leases Receivable in Percentage | 0.50% | 0.60% | ' |
Home Equity Line of Credit [Member] | ' | ' | ' |
Real estate loans: | ' | ' | ' |
Total loans, gross | 33,947 | 34,103 | ' |
Home Equity Line of Credit [Member] | Real Estate Loans [Member] | ' | ' | ' |
Real estate loans: | ' | ' | ' |
Total loans, gross | 33,947 | 34,103 | ' |
Loans and Leases Receivable in Percentage | 6.20% | 6.20% | ' |
Multi-Family [Member] | ' | ' | ' |
Real estate loans: | ' | ' | ' |
Total loans, gross | 28,770 | 29,736 | ' |
Multi-Family [Member] | Real Estate Loans [Member] | ' | ' | ' |
Real estate loans: | ' | ' | ' |
Total loans, gross | 28,770 | 29,736 | ' |
Loans and Leases Receivable in Percentage | 5.30% | 5.40% | ' |
Construction [Member] | ' | ' | ' |
Real estate loans: | ' | ' | ' |
Total loans, gross | 11,278 | 10,618 | ' |
Construction [Member] | Real Estate Loans [Member] | ' | ' | ' |
Real estate loans: | ' | ' | ' |
Total loans, gross | 11,278 | 10,618 | ' |
Loans and Leases Receivable in Percentage | 2.10% | 1.90% | ' |
Land [Member] | ' | ' | ' |
Real estate loans: | ' | ' | ' |
Total loans, gross | 34,154 | 34,681 | ' |
Land [Member] | Real Estate Loans [Member] | ' | ' | ' |
Real estate loans: | ' | ' | ' |
Total loans, gross | 34,154 | 34,681 | ' |
Loans and Leases Receivable in Percentage | 6.30% | 6.30% | ' |
Farmland [Member] | ' | ' | ' |
Real estate loans: | ' | ' | ' |
Total loans, gross | 47,608 | 51,868 | ' |
Farmland [Member] | Real Estate Loans [Member] | ' | ' | ' |
Real estate loans: | ' | ' | ' |
Total loans, gross | 47,608 | 51,868 | ' |
Loans and Leases Receivable in Percentage | 8.70% | 9.40% | ' |
Non-Residential Real Estate [Member] | ' | ' | ' |
Real estate loans: | ' | ' | ' |
Total loans, gross | 154,083 | 157,692 | ' |
Non-Residential Real Estate [Member] | Real Estate Loans [Member] | ' | ' | ' |
Real estate loans: | ' | ' | ' |
Total loans, gross | $154,083 | $157,692 | ' |
Loans and Leases Receivable in Percentage | 28.30% | 28.50% | ' |
Loans_NonResidential_Real_Esta
Loans - Non-Residential Real Estate Loan Portfolio (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Non residential real estate loan portfolio, Total | $235,845 | $244,241 |
Land [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Non residential real estate loan portfolio, Total | 34,154 | 34,681 |
Manufacturing [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Non residential real estate loan portfolio, Total | 3,907 | 3,962 |
Professional, Technical [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Non residential real estate loan portfolio, Total | 1,784 | 1,819 |
Retail Trade [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Non residential real estate loan portfolio, Total | 11,902 | 10,916 |
Other Services [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Non residential real estate loan portfolio, Total | 18,846 | 21,307 |
Finance and Insurance [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Non residential real estate loan portfolio, Total | 2,439 | 1,862 |
Agricultural, Forestry, Fishing & Hunting [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Non residential real estate loan portfolio, Total | 47,608 | 51,868 |
Real Estate and Rental and Leasing [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Non residential real estate loan portfolio, Total | 55,778 | 55,692 |
Wholesale Trade [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Non residential real estate loan portfolio, Total | 21,486 | 21,852 |
Arts, Entertainment and Recreation [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Non residential real estate loan portfolio, Total | 3,656 | 3,015 |
Accommodations / Food Service [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Non residential real estate loan portfolio, Total | 24,004 | 26,552 |
Healthcare and Social Assistance [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Non residential real estate loan portfolio, Total | 6,668 | 6,862 |
Transportation and Warehousing [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Non residential real estate loan portfolio, Total | 1,069 | 1,101 |
Information [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Non residential real estate loan portfolio, Total | 2,309 | 2,390 |
Admin Support / Waste Mgmt [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Non residential real estate loan portfolio, Total | $235 | $362 |
Loans_NonAccrual_Loans_Detail
Loans - Non-Accrual Loans (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2013 |
In Thousands, unless otherwise specified | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Total non-accrual loans | $10,032 | $10,066 | $7,036 |
One-to-Four Family Mortgages [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Total non-accrual loans | 1,056 | 945 | 1,883 |
Home Equity Line of Credit [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Total non-accrual loans | 49 | 1 | 66 |
Junior Liens [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Total non-accrual loans | 1 | 2 | 3 |
Multi-Family [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Total non-accrual loans | ' | ' | ' |
Construction [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Total non-accrual loans | ' | 175 | 177 |
Land [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Total non-accrual loans | 1,217 | 1,218 | 2,754 |
Non-Residential Real Estate [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Total non-accrual loans | 6,585 | 6,546 | 951 |
Farmland [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Total non-accrual loans | 669 | 703 | 545 |
Consumer Loan [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Total non-accrual loans | 2 | 13 | 65 |
Commercial Loans [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Total non-accrual loans | $453 | $463 | $592 |
Loans_Allowance_for_Loan_Loss_
Loans - Allowance for Loan Loss Account by Loan (Detail) (USD $) | 3 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Dec. 31, 2013 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Beginning balance | $8,682 | $10,648 |
Charge off | -196 | -4,444 |
Recovery | 47 | 874 |
Specific Provision | -238 | -54 |
General Provision | 618 | 1,658 |
Ending balance | 8,913 | 8,682 |
One-to-Four Family Mortgages [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Beginning balance | 2,048 | 2,490 |
Charge off | -35 | -852 |
Recovery | 8 | 329 |
Specific Provision | -10 | -285 |
General Provision | 125 | 366 |
Ending balance | 2,136 | 2,048 |
Home Equity Line of Credit [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Beginning balance | 218 | 374 |
Charge off | ' | -22 |
Recovery | 1 | 9 |
Specific Provision | ' | -88 |
General Provision | ' | -55 |
Ending balance | 219 | 218 |
Junior Liens [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Beginning balance | 39 | 230 |
Charge off | ' | -119 |
Recovery | 5 | 71 |
Specific Provision | 4 | 5 |
General Provision | -22 | -148 |
Ending balance | 26 | 39 |
Multi-Family [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Beginning balance | 466 | 524 |
Charge off | ' | -38 |
Recovery | ' | 164 |
Specific Provision | ' | -20 |
General Provision | -134 | -164 |
Ending balance | 332 | 466 |
Construction [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Beginning balance | 88 | 256 |
Charge off | -8 | ' |
Recovery | 2 | ' |
Specific Provision | -6 | -168 |
General Provision | 4 | ' |
Ending balance | 80 | 88 |
Land [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Beginning balance | 1,305 | 2,184 |
Charge off | ' | -1,432 |
Recovery | ' | 9 |
Specific Provision | 41 | -718 |
General Provision | -133 | 1,262 |
Ending balance | 1,213 | 1,305 |
Non-Residential Real Estate [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Beginning balance | 2,719 | 2,921 |
Charge off | ' | -1,041 |
Recovery | ' | 14 |
Specific Provision | -80 | 757 |
General Provision | 250 | 68 |
Ending balance | 2,889 | 2,719 |
Farmland [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Beginning balance | 510 | 712 |
Specific Provision | ' | -202 |
General Provision | 237 | ' |
Ending balance | 747 | 510 |
Consumer Loan [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Beginning balance | 541 | 338 |
Charge off | -103 | -649 |
Recovery | 31 | 246 |
Specific Provision | -137 | 228 |
General Provision | 343 | 378 |
Ending balance | 675 | 541 |
Commercial Loans [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Beginning balance | 748 | 619 |
Charge off | -50 | -291 |
Recovery | ' | 32 |
Specific Provision | -50 | 437 |
General Provision | -52 | -49 |
Ending balance | $596 | $748 |
Loans_Past_Due_and_NonAccrual_
Loans - Past Due and Non-Accrual Balances by Loan Classification (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2013 |
In Thousands, unless otherwise specified | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Currently Performing | $493,300 | $505,947 | ' |
30-89 Days Past Due | 1,098 | 1,385 | ' |
Non-accrual Loans | 10,032 | 10,066 | 7,036 |
Special Mention | 11,541 | 2,430 | ' |
Impaired Loans Currently Performing Substandard | 29,013 | 32,578 | ' |
Impaired Loans Currently Performing Doubtful | ' | ' | ' |
Total loans, gross | 544,984 | 552,406 | ' |
One-to-Four Family Mortgages [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Currently Performing | 150,107 | 148,759 | ' |
30-89 Days Past Due | 610 | 592 | ' |
Non-accrual Loans | 1,056 | 945 | 1,883 |
Special Mention | 904 | 814 | ' |
Impaired Loans Currently Performing Substandard | 1,280 | 4,142 | ' |
Impaired Loans Currently Performing Doubtful | ' | ' | ' |
Total loans, gross | 153,957 | 155,252 | ' |
Home Equity Line of Credit [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Currently Performing | 33,256 | 33,369 | ' |
30-89 Days Past Due | 148 | 93 | ' |
Non-accrual Loans | 49 | 1 | 66 |
Impaired Loans Currently Performing Substandard | 494 | 640 | ' |
Impaired Loans Currently Performing Doubtful | ' | ' | ' |
Total loans, gross | 33,947 | 34,103 | ' |
Junior Liens [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Currently Performing | 2,764 | 3,126 | ' |
Non-accrual Loans | 1 | 2 | 3 |
Special Mention | 42 | 43 | ' |
Impaired Loans Currently Performing Substandard | 22 | 77 | ' |
Impaired Loans Currently Performing Doubtful | ' | ' | ' |
Total loans, gross | 2,829 | 3,248 | ' |
Multi-Family [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Currently Performing | 23,871 | 29,736 | ' |
Non-accrual Loans | ' | ' | ' |
Special Mention | 4,899 | ' | ' |
Impaired Loans Currently Performing Doubtful | ' | ' | ' |
Total loans, gross | 28,770 | 29,736 | ' |
Construction [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Currently Performing | 11,278 | 10,443 | ' |
Non-accrual Loans | ' | 175 | 177 |
Impaired Loans Currently Performing Doubtful | ' | ' | ' |
Total loans, gross | 11,278 | 10,618 | ' |
Land [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Currently Performing | 15,982 | 19,899 | ' |
30-89 Days Past Due | 76 | ' | ' |
Non-accrual Loans | 1,217 | 1,218 | 2,754 |
Special Mention | 3,464 | 52 | ' |
Impaired Loans Currently Performing Substandard | 13,415 | 13,512 | ' |
Impaired Loans Currently Performing Doubtful | ' | ' | ' |
Total loans, gross | 34,154 | 34,681 | ' |
Non-Residential Real Estate [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Currently Performing | 141,228 | 142,701 | ' |
30-89 Days Past Due | 47 | 343 | ' |
Non-accrual Loans | 6,585 | 6,546 | 951 |
Special Mention | 488 | 515 | ' |
Impaired Loans Currently Performing Substandard | 5,735 | 7,587 | ' |
Impaired Loans Currently Performing Doubtful | ' | ' | ' |
Total loans, gross | 154,083 | 157,692 | ' |
Farmland [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Currently Performing | 41,605 | 46,042 | ' |
Non-accrual Loans | 669 | 703 | 545 |
Special Mention | 345 | 480 | ' |
Impaired Loans Currently Performing Substandard | 4,989 | 4,643 | ' |
Impaired Loans Currently Performing Doubtful | ' | ' | ' |
Total loans, gross | 47,608 | 51,868 | ' |
Consumer Loan [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Currently Performing | 14,576 | 10,493 | ' |
30-89 Days Past Due | 28 | 234 | ' |
Non-accrual Loans | 2 | 13 | 65 |
Impaired Loans Currently Performing Substandard | 654 | 427 | ' |
Impaired Loans Currently Performing Doubtful | ' | ' | ' |
Total loans, gross | 15,260 | 11,167 | ' |
Commercial Loans [Member] | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
Currently Performing | 58,633 | 61,379 | ' |
30-89 Days Past Due | 189 | 123 | ' |
Non-accrual Loans | 453 | 463 | 592 |
Special Mention | 1,399 | 526 | ' |
Impaired Loans Currently Performing Substandard | 2,424 | 1,550 | ' |
Impaired Loans Currently Performing Doubtful | ' | ' | ' |
Total loans, gross | $63,098 | $64,041 | ' |
Loans_Summary_of_Companys_Impa
Loans - Summary of Company's Impaired Loans (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | $544,984 | $552,406 |
Specific Allowance for Impairment | 2,016 | 1,929 |
Allowance for Performing Loans | 6,897 | 6,753 |
Pass [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | 494,398 | 507,332 |
Special Mention [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | 11,541 | 2,430 |
Impaired Loans Substandard [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | 39,045 | 42,644 |
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 | 153,957 | 155,252 |
Specific Allowance for Impairment | 580 | 597 |
Allowance for Performing Loans | 1,556 | 1,451 |
One-to-Four Family Mortgages [Member] | Pass [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | 150,717 | 149,351 |
One-to-Four Family Mortgages [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | 904 | 814 |
One-to-Four Family Mortgages [Member] | Impaired Loans Substandard [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | 2,336 | 5,087 |
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 | 33,947 | 34,103 |
Allowance for Performing Loans | 219 | 218 |
Home Equity Line of Credit [Member] | Pass [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | 33,404 | 33,462 |
Home Equity Line of Credit [Member] | Impaired Loans Substandard [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | 543 | 641 |
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 | 2,829 | 3,248 |
Allowance for Performing Loans | 26 | 39 |
Junior Liens [Member] | Pass [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | 2,764 | 3,126 |
Junior Liens [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | 42 | 43 |
Junior Liens [Member] | Impaired Loans Substandard [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | 23 | 79 |
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 | 28,770 | 29,736 |
Allowance for Performing Loans | 332 | 466 |
Multi-Family [Member] | Pass [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | 23,871 | 29,736 |
Multi-Family [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | 4,899 | ' |
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 | 11,278 | 10,618 |
Allowance for Performing Loans | 80 | 88 |
Construction [Member] | Pass [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | 11,278 | 10,443 |
Construction [Member] | Impaired Loans Substandard [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | ' | 175 |
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 | 34,154 | 34,681 |
Specific Allowance for Impairment | 730 | 771 |
Allowance for Performing Loans | 483 | 534 |
Land [Member] | Pass [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | 16,058 | 19,899 |
Land [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | 3,464 | 52 |
Land [Member] | Impaired Loans Substandard [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | 14,632 | 14,730 |
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 | 154,083 | 157,692 |
Specific Allowance for Impairment | 546 | 465 |
Allowance for Performing Loans | 2,343 | 2,254 |
Non-Residential Real Estate [Member] | Pass [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | 141,275 | 143,044 |
Non-Residential Real Estate [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | 488 | 515 |
Non-Residential Real Estate [Member] | Impaired Loans Substandard [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | 12,320 | 14,133 |
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 | 47,608 | 51,868 |
Allowance for Performing Loans | 747 | 510 |
Farmland [Member] | Pass [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | 41,605 | 46,042 |
Farmland [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | 345 | 480 |
Farmland [Member] | Impaired Loans Substandard [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | 5,658 | 5,346 |
Farmland [Member] | Impaired Loans Doubtful [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | ' | ' |
Consumer Loan [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | 15,260 | 11,167 |
Specific Allowance for Impairment | 160 | 96 |
Allowance for Performing Loans | 515 | 445 |
Consumer Loan [Member] | Pass [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | 14,604 | 10,727 |
Consumer Loan [Member] | Impaired Loans Substandard [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | 656 | 440 |
Consumer Loan [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 | 63,098 | 64,041 |
Allowance for Performing Loans | 596 | 748 |
Commercial Loans [Member] | Pass [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | 58,822 | 61,502 |
Commercial Loans [Member] | Special Mention [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | 1,399 | 526 |
Commercial Loans [Member] | Impaired Loans Substandard [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total | 2,877 | 2,013 |
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 $) | 3 Months Ended | 12 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2013 |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Recorded Investment | $29,689 | $33,183 | ' |
Total impaired loans Recorded Investment | 39,045 | 42,644 | 43,700 |
Unpaid Principal Balance | 29,689 | 34,616 | ' |
Total impaired loans Unpaid Principal Balance | 41,343 | 44,941 | ' |
Related Allowance | ' | ' | ' |
Average Recorded Investment | 31,438 | 31,484 | ' |
Interest Income Recognized | 572 | 710 | ' |
Recorded Investment | 9,356 | 9,461 | ' |
Unpaid Principal Balance | 11,654 | 10,325 | ' |
Related Allowance | 2,016 | 1,929 | 2,700 |
Average Recorded Investment | 9,409 | 11,610 | ' |
Total Average Recorded Investment | 40,847 | 43,094 | ' |
Interest Income Recognized | 105 | 149 | ' |
Total impaired loans Interest Income Recognized | 677 | 859 | ' |
One-to-Four Family Mortgages [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Recorded Investment | 481 | 3,216 | ' |
Unpaid Principal Balance | 481 | 3,216 | ' |
Related Allowance | ' | ' | ' |
Average Recorded Investment | 1,849 | 2,361 | ' |
Interest Income Recognized | 2 | 8 | ' |
Recorded Investment | 1,855 | 1,871 | ' |
Unpaid Principal Balance | 1,855 | 1,871 | ' |
Related Allowance | 580 | 597 | ' |
Average Recorded Investment | 1,863 | 2,501 | ' |
Interest Income Recognized | 6 | 9 | ' |
Home Equity Line of Credit [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Recorded Investment | 543 | 641 | ' |
Unpaid Principal Balance | 543 | 641 | ' |
Related Allowance | ' | ' | ' |
Average Recorded Investment | 592 | 564 | ' |
Interest Income Recognized | 3 | 3 | ' |
Average Recorded Investment | ' | 279 | ' |
Junior Liens [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Recorded Investment | 23 | 79 | ' |
Unpaid Principal Balance | 23 | 79 | ' |
Related Allowance | ' | ' | ' |
Average Recorded Investment | 51 | 239 | ' |
Interest Income Recognized | 1 | 1 | ' |
Average Recorded Investment | ' | 113 | ' |
Multi-Family [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Related Allowance | ' | ' | ' |
Average Recorded Investment | ' | 990 | ' |
Construction [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Recorded Investment | ' | 175 | ' |
Unpaid Principal Balance | ' | 175 | ' |
Related Allowance | ' | ' | ' |
Average Recorded Investment | 88 | 1,072 | ' |
Interest Income Recognized | ' | 5 | ' |
Average Recorded Investment | ' | 1,385 | ' |
Land [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Recorded Investment | 11,106 | 10,882 | ' |
Unpaid Principal Balance | 11,106 | 12,315 | ' |
Related Allowance | ' | ' | ' |
Average Recorded Investment | 10,994 | 10,668 | ' |
Interest Income Recognized | 201 | 186 | ' |
Recorded Investment | 3,526 | 3,848 | ' |
Unpaid Principal Balance | 5,039 | 3,848 | ' |
Related Allowance | 730 | 771 | ' |
Average Recorded Investment | 3,687 | 2,741 | ' |
Interest Income Recognized | 23 | 29 | ' |
Farmland [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Recorded Investment | 5,658 | 5,346 | ' |
Unpaid Principal Balance | 5,658 | 5,346 | ' |
Related Allowance | ' | ' | ' |
Average Recorded Investment | 8,217 | 6,955 | ' |
Interest Income Recognized | 102 | 149 | ' |
Average Recorded Investment | ' | 1,601 | ' |
Non-Residential Real Estate [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Recorded Investment | 8,987 | 10,775 | ' |
Unpaid Principal Balance | 8,987 | 10,775 | ' |
Related Allowance | ' | ' | ' |
Average Recorded Investment | 7,167 | 6,196 | ' |
Interest Income Recognized | 157 | 263 | ' |
Recorded Investment | 3,333 | 3,358 | ' |
Unpaid Principal Balance | 4,118 | 4,222 | ' |
Related Allowance | 546 | 465 | ' |
Average Recorded Investment | 3,346 | 2,243 | ' |
Interest Income Recognized | 76 | 111 | ' |
Consumer Loan [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Recorded Investment | 14 | 56 | ' |
Unpaid Principal Balance | 14 | 56 | ' |
Related Allowance | ' | ' | ' |
Average Recorded Investment | 35 | 48 | ' |
Recorded Investment | 642 | 384 | ' |
Unpaid Principal Balance | 642 | 384 | ' |
Related Allowance | 160 | 96 | ' |
Average Recorded Investment | 513 | 401 | ' |
Commercial Loans [Member] | ' | ' | ' |
Financing Receivable, Impaired [Line Items] | ' | ' | ' |
Recorded Investment | 2,877 | 2,013 | ' |
Unpaid Principal Balance | 2,877 | 2,013 | ' |
Related Allowance | ' | ' | ' |
Average Recorded Investment | 2,445 | 2,391 | ' |
Interest Income Recognized | 106 | 95 | ' |
Average Recorded Investment | ' | $346 | ' |
Real_Estate_and_Other_Assets_O2
Real Estate and Other Assets Owned - Additional Information (Detail) (USD $) | 3 Months Ended |
Mar. 31, 2014 | |
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 $) | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Total other assets owned | $1,680 | $1,674 | $1,480 | $1,548 |
Total non-accrual loans | 10,032 | 10,066 | 7,036 | ' |
Total non-performing assets | 11,712 | 11,740 | 8,516 | ' |
Non-performing assets / Total assets | 1.21% | 1.21% | 0.86% | ' |
One-to-Four Family Mortgages [Member] | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Total other assets owned | 446 | 350 | 295 | 258 |
Total non-accrual loans | 1,056 | 945 | 1,883 | ' |
Land [Member] | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Total other assets owned | 1,034 | 1,124 | 1,112 | 1,112 |
Total non-accrual loans | 1,217 | 1,218 | 2,754 | ' |
Non-Residential Real Estate [Member] | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Total other assets owned | 200 | 200 | 73 | 44 |
Total non-accrual loans | $6,585 | $6,546 | $951 | ' |
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 $) | 3 Months Ended | 12 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2013 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Beginning balance | $1,674 | $1,548 | $1,480 |
Foreclosures | 166 | 1,379 | ' |
Proceeds | -137 | -1,113 | ' |
Reduction in Values | ' | -219 | ' |
Gain (Loss) on Sale | -23 | 79 | ' |
Ending balance | 1,680 | 1,674 | 1,480 |
One-to-Four Family Mortgages [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Beginning balance | 350 | 258 | 295 |
Foreclosures | 166 | 1,052 | ' |
Proceeds | -66 | -938 | ' |
Reduction in Values | ' | -26 | ' |
Gain (Loss) on Sale | -4 | 4 | ' |
Ending balance | 446 | 350 | 295 |
Multi-Family [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Beginning balance | ' | ' | ' |
Foreclosures | ' | ' | ' |
Proceeds | ' | ' | ' |
Reduction in Values | ' | ' | ' |
Gain (Loss) on Sale | ' | ' | ' |
Ending balance | ' | ' | ' |
Construction [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Beginning balance | ' | 130 | ' |
Foreclosures | ' | ' | ' |
Proceeds | ' | -110 | ' |
Reduction in Values | ' | -110 | ' |
Gain (Loss) on Sale | ' | 90 | ' |
Ending balance | ' | ' | ' |
Land [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Beginning balance | 1,124 | 1,112 | 1,112 |
Foreclosures | ' | 80 | ' |
Proceeds | -71 | ' | ' |
Reduction in Values | ' | -68 | ' |
Gain (Loss) on Sale | -19 | ' | ' |
Ending balance | 1,034 | 1,124 | 1,112 |
Non-Residential Real Estate [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Beginning balance | 200 | 44 | 73 |
Foreclosures | ' | 240 | ' |
Proceeds | ' | -60 | ' |
Reduction in Values | ' | -11 | ' |
Gain (Loss) on Sale | ' | -13 | ' |
Ending balance | 200 | 200 | 73 |
Consumer Assets [Member] | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' |
Beginning balance | ' | 4 | ' |
Foreclosures | ' | 7 | ' |
Proceeds | ' | -5 | ' |
Reduction in Values | ' | -4 | ' |
Gain (Loss) on Sale | ' | ($2) | ' |
Investments_in_Affiliated_Comp2
Investments in Affiliated Companies - Additional Information (Detail) (Subsidiaries [Member]) | Mar. 31, 2014 |
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 of Statements of Financial Condition (Detail) (Subsidiaries [Member], USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
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] | ' | ' |
Investment In Affiliates [Line Items] | ' | ' |
Total stockholders' equity | 10,000 | 10,000 |
Common Stock [Member] | ' | ' |
Investment In Affiliates [Line Items] | ' | ' |
Total stockholders' equity | $310 | $310 |
Investments_in_Affiliated_Comp4
Investments in Affiliated Companies - Summary of Statement of Income (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Other Items Net Interest And Other Financial Income [Line Items] | ' | ' |
Income - interest income from subordinated debentures issued by HopFed Bancorp, Inc. | $8,658 | $9,305 |
Subsidiaries [Member] | ' | ' |
Other Items Net Interest And Other Financial Income [Line Items] | ' | ' |
Income - interest income from subordinated debentures issued by HopFed Bancorp, Inc. | 86 | 88 |
Net income | $86 | $88 |
Investments_in_Affiliated_Comp5
Investments in Affiliated Companies - Summary of Statement of Stockholders' Equity (Detail) (USD $) | 3 Months Ended | 3 Months Ended | 3 Months Ended | |||||||||||
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2014 | Dec. 31, 2013 |
Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Retained Earnings [Member] | Retained Earnings [Member] | Subsidiaries [Member] | Subsidiaries [Member] | Subsidiaries [Member] | Subsidiaries [Member] | Subsidiaries [Member] | Subsidiaries [Member] | |||
Common Stock [Member] | Common Stock [Member] | Retained Earnings [Member] | Trust Preferred Securities [Member] | Trust Preferred Securities [Member] | ||||||||||
Schedule Of Investments In Equity Method Affiliates [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Beginning balance | $95,717 | $104,999 | $79 | $79 | $79 | $79 | $44,694 | $41,829 | $10,310 | $310 | $310 | ' | $10,000 | $10,000 |
Net income | 354 | 984 | ' | ' | ' | ' | 354 | 984 | 86 | ' | ' | 86 | ' | ' |
Dividends: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Trust preferred securities | ' | ' | ' | ' | ' | ' | ' | ' | -83 | ' | ' | -83 | ' | ' |
Common paid to HopFed Bancorp, Inc. | ' | ' | ' | ' | ' | ' | ' | ' | -3 | ' | ' | -3 | ' | ' |
Ending balance | $97,513 | $104,086 | $79 | $79 | $79 | $79 | $44,753 | $42,663 | $10,310 | $310 | $310 | ' | $10,000 | $10,000 |
Fair_Value_Measurement_Assets_
Fair Value Measurement - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Assets | ' | ' |
Available for sale securities | $341,538 | $318,910 |
Bank owned life insurance | 9,764 | 9,677 |
Fair Value, Measurements, Recurring [Member] | ' | ' |
Assets | ' | ' |
Available for sale securities | 341,538 | 318,910 |
Bank owned life insurance | 9,764 | 9,677 |
Liabilities | ' | ' |
Interest rate swap | 675 | 750 |
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 | 340,049 | 317,421 |
Liabilities | ' | ' |
Interest rate swap | 675 | 750 |
Significant Other Observable Inputs (Level 2) [Member] | Fair Value, Measurements, Recurring [Member] | ' | ' |
Assets | ' | ' |
Available for sale securities | 340,049 | 317,421 |
Bank owned life insurance | 9,764 | 9,677 |
Liabilities | ' | ' |
Interest rate swap | 675 | 750 |
Significant Unobservable Inputs (Level 3) [Member] | ' | ' |
Assets | ' | ' |
Available for sale securities | 1,489 | 1,489 |
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_Measurement_Assets_1
Fair Value Measurement - Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Assets | ' | ' |
Other real estate owned | $1,680 | $1,674 |
Fair Value, Measurements, Nonrecurring [Member] | ' | ' |
Assets | ' | ' |
Other real estate owned | 1,680 | 1,674 |
Impaired loans, net of reserve | 37,029 | 40,715 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Fair Value, Measurements, Nonrecurring [Member] | ' | ' |
Assets | ' | ' |
Other real estate owned | ' | ' |
Impaired loans, net of reserve | ' | ' |
Significant Other Observable Inputs (Level 2) [Member] | Fair Value, Measurements, Nonrecurring [Member] | ' | ' |
Assets | ' | ' |
Other real estate owned | ' | ' |
Impaired loans, net of reserve | ' | ' |
Significant Unobservable Inputs (Level 3) [Member] | Fair Value, Measurements, Nonrecurring [Member] | ' | ' |
Assets | ' | ' |
Other real estate owned | 1,680 | 1,674 |
Impaired loans, net of reserve | $37,029 | $40,715 |
Fair_Value_Measurement_Assets_2
Fair Value Measurement - Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis (Parenthetical) (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2013 |
In Thousands, unless otherwise specified | |||
Fair Value Assets And Liabilities Measured On Nonrecurring Basis [Line Items] | ' | ' | ' |
Reserve on impaired loans | $2,016 | $1,929 | $2,700 |
Fair Value, Measurements, Nonrecurring [Member] | ' | ' | ' |
Fair Value Assets And Liabilities Measured On Nonrecurring Basis [Line Items] | ' | ' | ' |
Reserve on impaired loans | $2,016 | $1,929 | ' |
Fair_Value_Measurement_RollFor
Fair Value Measurement - Roll-Forward of the Consolidated Condensed Statement of Financial Condition Items (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Other Assets [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Fair value, Beginning balance | $1,489 | $1,489 |
Change in unrealized losses included in other comprehensive income for assets and liabilities still held at March 31, | ' | ' |
Purchases, issuances and settlements, net | ' | ' |
Transfers in and/or out of Level 3 | ' | ' |
Fair value, Ending balance | 1,489 | 1,489 |
Other Liabilities [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Fair value, Beginning balance | ' | ' |
Change in unrealized losses included in other comprehensive income for assets and liabilities still held at March 31, | ' | ' |
Purchases, issuances and settlements, net | ' | ' |
Transfers in and/or out of Level 3 | ' | ' |
Fair value, Ending balance | ' | ' |
Fair_Value_Measurement_Estimat
Fair Value Measurement - Estimated Fair Values of Financial Instruments (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Financial Assets: | ' | ' |
Securities available for sale | $341,538 | $318,910 |
Financial liabilities: | ' | ' |
Repurchase agreements | 34,100 | ' |
Carrying Amount [Member] | ' | ' |
Financial Assets: | ' | ' |
Cash and due from banks | 25,449 | 37,229 |
Interest-earning deposits | 8,730 | 18,619 |
Securities available for sale | 341,538 | 318,910 |
Federal Home Loan Bank stock | 4,428 | 4,428 |
Loans receivable | 535,951 | 543,632 |
Accrued interest receivable | 4,447 | 5,233 |
Bank owned life insurance | 9,764 | 9,677 |
Financial liabilities: | ' | ' |
Deposits | 761,526 | 762,997 |
Advances from borrowers for taxes and insurance | 572 | 521 |
Advances from Federal Home Loan Bank | 41,280 | 46,780 |
Repurchase agreements | 50,129 | 52,759 |
Subordinated debentures | 10,310 | 10,310 |
Off-balance-sheet liabilities: | ' | ' |
Commitments to extend credit | ' | ' |
Commercial letters of credit | ' | ' |
Market value of interest rate swap | 675 | 750 |
Estimated Fair Value [Member] | ' | ' |
Financial Assets: | ' | ' |
Cash and due from banks | 25,449 | 37,229 |
Interest-earning deposits | 8,730 | 18,619 |
Securities available for sale | 341,538 | 318,910 |
Federal Home Loan Bank stock | 4,428 | 4,428 |
Loans receivable | 539,482 | 546,319 |
Accrued interest receivable | 4,447 | 5,233 |
Bank owned life insurance | 9,764 | 9,677 |
Financial liabilities: | ' | ' |
Deposits | 761,328 | 763,605 |
Advances from borrowers for taxes and insurance | 572 | 521 |
Advances from Federal Home Loan Bank | 44,865 | 51,010 |
Repurchase agreements | 50,910 | 53,712 |
Subordinated debentures | 10,091 | 10,099 |
Off-balance-sheet liabilities: | ' | ' |
Commitments to extend credit | ' | ' |
Commercial letters of credit | ' | ' |
Market value of interest rate swap | 675 | 750 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ' | ' |
Financial Assets: | ' | ' |
Cash and due from banks | 25,449 | 37,229 |
Interest-earning deposits | 8,730 | 18,619 |
Off-balance-sheet liabilities: | ' | ' |
Commitments to extend credit | ' | ' |
Commercial letters of credit | ' | ' |
Significant Other Observable Inputs (Level 2) [Member] | ' | ' |
Financial Assets: | ' | ' |
Securities available for sale | 340,049 | 317,421 |
Federal Home Loan Bank stock | 4,428 | 4,428 |
Accrued interest receivable | 4,447 | 5,233 |
Bank owned life insurance | 9,764 | 9,677 |
Financial liabilities: | ' | ' |
Deposits | 761,328 | 763,605 |
Advances from borrowers for taxes and insurance | 572 | 521 |
Advances from Federal Home Loan Bank | 44,865 | 51,010 |
Repurchase agreements | 50,910 | 53,712 |
Off-balance-sheet liabilities: | ' | ' |
Commitments to extend credit | ' | ' |
Commercial letters of credit | ' | ' |
Market value of interest rate swap | 675 | 750 |
Significant Unobservable Inputs (Level 3) [Member] | ' | ' |
Financial Assets: | ' | ' |
Securities available for sale | 1,489 | 1,489 |
Loans receivable | 539,482 | 546,319 |
Financial liabilities: | ' | ' |
Subordinated debentures | 10,091 | 10,099 |
Off-balance-sheet liabilities: | ' | ' |
Commitments to extend credit | ' | ' |
Commercial letters of credit | ' | ' |
Stock_Options_Additional_Infor
Stock Options - Additional Information (Detail) (1999 Stock Option Plan [Member], USD $) | 3 Months Ended |
Mar. 31, 2014 | |
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 | 3 Months Ended | 12 Months Ended |
Oct. 31, 2008 | Mar. 31, 2014 | Dec. 31, 2013 | |
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 | ' | $675,000 | $750,000 |
Subsequent_Event_Additional_In
Subsequent Event - Additional Information (Detail) (USD $) | Mar. 31, 2014 |
In Millions, unless otherwise specified | |
Subsequent Events [Abstract] | ' |
Preferred Trust security issued | $2 |
Preferred Trust security cost basis | 1.6 |
Preferred Trust security market value | $1.50 |
Income_Taxes_Additional_Inform
Income Taxes - Additional Information (Detail) (USD $) | 3 Months Ended |
Mar. 31, 2014 | |
Schedule Of Effective Tax Rate Reconciliation [Line Items] | ' |
Unrecognized tax benefits | $0 |
Effective tax rate | 35.00% |
Tennessee [Member] | ' |
Schedule Of Effective Tax Rate Reconciliation [Line Items] | ' |
Effective tax rate | 6.50% |