Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Sep. 30, 2015 | Nov. 03, 2015 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Sep. 30, 2015 | |
Document Fiscal Year Focus | 2,015 | |
Document Fiscal Period Focus | Q3 | |
Trading Symbol | HFBC | |
Entity Registrant Name | HOPFED BANCORP INC | |
Entity Central Index Key | 1,041,550 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 6,913,013 |
Consolidated Condensed Statemen
Consolidated Condensed Statements of Financial Condition - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Assets | ||
Cash and due from banks | $ 18,110 | $ 34,389 |
Interest-earning deposits | 5,647 | 6,050 |
Cash and cash equivalents | 23,757 | 40,439 |
Federal Home Loan Bank stock, at cost | 4,428 | 4,428 |
Securities available for sale | 239,922 | 303,628 |
Loans held for sale | 5,298 | 1,444 |
Loans receivable, net of allowance for loan losses of $5,487 at September 30, 2015, and $6,289 at December 31, 2014 | 561,514 | 539,264 |
Accrued interest receivable | 4,119 | 4,576 |
Real estate and other assets owned | 1,736 | 1,927 |
Bank owned life insurance | 10,236 | 9,984 |
Premises and equipment, net | 24,371 | 22,940 |
Deferred tax assets | 1,198 | 2,261 |
Intangible asset | 33 | |
Income taxes receivable | 3,215 | 2,960 |
Other assets | 2,942 | 1,901 |
Total assets | 882,736 | 935,785 |
Deposits: | ||
Non-interest-bearing accounts | 113,469 | 115,051 |
Interest-bearing accounts | ||
Interest-bearing checking accounts | 185,377 | 186,616 |
Savings and money market accounts | 93,821 | 97,726 |
Other time deposits | 313,531 | 331,915 |
Total deposits | 706,198 | 731,308 |
Advances from Federal Home Loan Bank | 25,000 | 34,000 |
Repurchase agreements | 46,300 | 57,358 |
Subordinated debentures | 10,310 | 10,310 |
Advances from borrowers for taxes and insurance | 1,077 | 513 |
Dividends payable | 289 | 301 |
Accrued expenses and other liabilities | 4,739 | 3,593 |
Total liabilities | $ 793,913 | $ 837,383 |
Stockholders' equity | ||
Preferred stock, par value $0.01 per share; authorized - 500,000 shares; no shares issued and outstanding at September 30, 2015, and December 31, 2014. | ||
Common stock, par value $.01 per share; authorized 15,000,000 shares; 7,951,699 issued and 6,913,013 outstanding at September 30, 2015, and 7,949,665 issued and 7,171,282 outstanding at December 31, 2014 | $ 79 | $ 79 |
Additional paid-in-capital | 58,578 | 58,466 |
Retained earnings | 46,719 | 45,729 |
Treasury stock | (12,915) | (9,429) |
Unallocated ESOP shares (at cost, 562,937 shares at September 30, 2015, and no shares at December 31, 2014) | (7,397) | 0 |
Accumulated other comprehensive income, net of taxes | 3,759 | 3,557 |
Total stockholders' equity | 88,823 | 98,402 |
Total liabilities and stockholders' equity | $ 882,736 | $ 935,785 |
Commitment and contingencies (note 14) |
Consolidated Condensed Stateme3
Consolidated Condensed Statements of Financial Condition (Parenthetical) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Statement of Financial Position [Abstract] | ||
Loans receivable, allowance for loan losses | $ 5,487 | $ 6,289 |
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 | 7,951,699 | 7,949,665 |
Common stock, shares outstanding | 6,913,013 | 7,171,282 |
Treasury stock, shares | 1,038,686 | 778,383 |
Unallocated ESOP shares | 562,937 | 0 |
Consolidated Condensed Stateme4
Consolidated Condensed Statements of Income - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Interest income: | ||||
Loans receivable | $ 6,374 | $ 6,913 | $ 18,895 | $ 19,743 |
Securities available for sale - taxable | 1,237 | 1,562 | 4,953 | 5,035 |
Securities available for sale - nontaxable | 398 | 514 | 1,267 | 1,589 |
Interest-earning deposits | 3 | 5 | 11 | 19 |
Total interest income | 8,012 | 8,994 | 25,126 | 26,386 |
Interest expense: | ||||
Deposits | 1,246 | 1,354 | 3,751 | 4,313 |
Advances from Federal Home Loan Bank | 71 | 430 | 206 | 1,292 |
Repurchase agreements | 130 | 228 | 368 | 722 |
Subordinated debentures | 186 | 174 | 553 | 551 |
Total interest expense | 1,633 | 2,186 | 4,878 | 6,878 |
Net interest income | 6,379 | 6,808 | 20,248 | 19,508 |
Provision for loan losses | 275 | (892) | 760 | (773) |
Net interest income after provision for loan losses | 6,104 | 7,700 | 19,488 | 20,281 |
Non-interest income: | ||||
Service charges | 750 | 879 | 2,184 | 2,505 |
Merchant card income | 286 | 265 | 842 | 800 |
Mortgage origination revenue | 345 | 316 | 865 | 507 |
Gain on sale of securities | 103 | 294 | 552 | 548 |
Income from bank owned life insurance | 108 | 65 | 252 | 226 |
Financial services commission | 186 | 363 | 539 | 737 |
Other operating income | 158 | 211 | 483 | 613 |
Total non-interest income | 1,936 | 2,393 | 5,717 | 5,936 |
Non-interest expenses: | ||||
Salaries and benefits | 3,960 | 3,881 | 12,148 | 11,368 |
Occupancy | 788 | 781 | 2,278 | 2,498 |
Data processing | 724 | 730 | 2,117 | 2,194 |
Franchise and deposit tax | 260 | 346 | 759 | 990 |
Intangible amortization | 16 | 32 | 81 | |
Professional services | 380 | 397 | 1,177 | 1,025 |
Deposit insurance and examination | 135 | 182 | 403 | 562 |
Advertising | 337 | 368 | 983 | 1,023 |
Postage and communications | 162 | 140 | 428 | 423 |
Supplies | 107 | 156 | 364 | 459 |
Loss (gain) on real estate owned | (18) | 35 | 716 | 160 |
Real estate owned | 202 | (29) | 406 | 193 |
Other operating | 516 | 560 | 1,446 | 1,358 |
Total non-interest expense | 7,553 | 7,563 | 23,257 | 22,334 |
Income before income tax | 487 | 2,530 | 1,948 | 3,883 |
Income tax expense (benefit) | (23) | 577 | 200 | 651 |
Net income | $ 510 | $ 1,953 | $ 1,748 | $ 3,232 |
Net income per share: | ||||
Basic | $ 0.08 | $ 0.27 | $ 0.27 | $ 0.44 |
Diluted | 0.08 | 0.27 | 0.27 | 0.44 |
Dividend per share | $ 0.04 | $ 0.04 | $ 0.12 | $ 0.12 |
Weighted average shares outstanding - basic | 6,359,556 | 7,265,597 | 6,493,449 | 7,348,708 |
Weighted average shares outstanding - diluted | 6,359,556 | 7,265,597 | 6,493,449 | 7,348,708 |
Consolidated Condensed Stateme5
Consolidated Condensed Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Statement of Comprehensive Income [Abstract] | ||||
Net income | $ 510 | $ 1,953 | $ 1,748 | $ 3,232 |
Unrealized gains on securities for which a portion of an other than temporary impairment has been recorded in earnings: | ||||
Unrealized holding gains arising during the period | (17) | 289 | ||
Income tax expense (benefit) | 6 | (98) | ||
Other comprehensive income on available for sale for sale securities with other than temporary impairment | (11) | 191 | ||
Unrealized gain (loss) on investment securities available for sale, net of tax effect of ($468) and $138 for the three months periods ended September 30, 2015, and September 30, 2014, respectively; and ($89) and ($2,121) for the nine month periods ended September 30, 2015, and September 30, 2014, respectively; | 920 | (269) | 184 | 4,118 |
Unrealized gain on derivatives, net of tax effect of ($33) and ($34) for the three month periods ended September 30, 2015, and September 30, 2014, respectively; and ($98) and ($90) for the nine month periods ending September 30, 2015, and September 30, 2014, respectively; | 64 | 65 | 191 | 174 |
Reclassification adjustment for gains included in net income, net of tax effect of $35 and $100 for the three month periods ended September 30, 2015, and September 30, 2014, respectively; and $188 and $186 the nine month periods ended September 30, 2015, and September 30, 2014, respectively; | (68) | (194) | (364) | (362) |
Other comprehensive income (loss) on available for sale without other than temporary impairment | 916 | (398) | 11 | 3,930 |
Total other comprehensive income (loss) | 905 | (398) | 202 | 3,930 |
Comprehensive income | $ 1,415 | $ 1,555 | $ 1,950 | $ 7,162 |
Consolidated Condensed Stateme6
Consolidated Condensed Statements of Comprehensive Income (Loss) (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Statement of Comprehensive Income [Abstract] | ||||
Unrealized gain (loss) on investment securities available for sale, tax effect | $ (468) | $ 138 | $ (89) | $ (2,121) |
Unrealized gain on derivatives, tax effect | (33) | (34) | (98) | (90) |
Reclassification adjustment for other than temporary impairment included in net income, tax effect | $ 35 | $ 100 | $ 188 | $ 186 |
Consolidated Condensed Stateme7
Consolidated Condensed Statement of Stockholders' Equity - USD ($) $ in Thousands | Total | Common Stock [Member] | Preferred Shares [Member] | Common Stock Warrant [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Preferred Treasury Stock [Member] | Common Treasury Stock [Member] | Unearned ESOP Shares [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Additional Common Stock [Member] | Capital Surplus [Member] |
Beginning balance at Dec. 31, 2013 | $ 95,717 | $ (5,929) | $ 44,694 | $ (1,429) | $ 79 | $ 58,302 | ||||||
Beginning balance, shares at Dec. 31, 2013 | 7,447,903 | |||||||||||
Consolidated net income | 3,232 | 3,232 | ||||||||||
Restricted stock awards/issued | 0 | $ 0 | $ 0 | $ 0 | 0 | $ 0 | 0 | 0 | 0 | |||
Restricted stock awards/issued, shares | 22,378 | |||||||||||
Repurchase of treasury stock | (3,027) | $ (3,027) | ||||||||||
Repurchase of treasury stock, shares | (259,226) | |||||||||||
Compensation expense, restricted stock awards | 114 | 114 | ||||||||||
Net change in unrealized gain on securities available for sale, net of income taxes | 3,756 | 3,756 | ||||||||||
Net change in unrealized loss on derivatives, net of income taxes | 174 | 174 | ||||||||||
Cash dividend to common stockholders | (877) | (877) | ||||||||||
Ending balance at Sep. 30, 2014 | 99,089 | $ (8,956) | 47,049 | 2,501 | $ 79 | $ 58,416 | ||||||
Ending balance, shares at Sep. 30, 2014 | 7,211,055 | |||||||||||
Beginning balance at Dec. 31, 2014 | 98,402 | $ 79 | $ 58,466 | 45,729 | $ (9,429) | 3,557 | ||||||
Beginning balance, shares at Dec. 31, 2014 | 7,171,282 | |||||||||||
Consolidated net income | 1,748 | 1,748 | ||||||||||
Treasury stock reissued | 7,884 | $ (7,884) | ||||||||||
Treasury stock reissued, shares | 600,000 | |||||||||||
Restricted stock awards/issued | 0 | $ 0 | $ 0 | $ 0 | 0 | 0 | $ 0 | 0 | 0 | 0 | ||
Restricted stock awards/issued, shares | 2,034 | |||||||||||
Repurchase of treasury stock | (11,370) | (11,370) | ||||||||||
Repurchase of treasury stock, shares | (860,303) | |||||||||||
ESOP shares committed to release | 487 | 487 | ||||||||||
Change in price of ESOP shares | (32) | (32) | ||||||||||
Compensation expense, restricted stock awards | 144 | 144 | ||||||||||
Net change in unrealized gain on securities available for sale, net of income taxes | 11 | 11 | ||||||||||
Net change in unrealized loss on derivatives, net of income taxes | 191 | 191 | ||||||||||
Cash dividend to common stockholders | (758) | (758) | ||||||||||
Ending balance at Sep. 30, 2015 | $ 88,823 | $ 79 | $ 58,578 | $ 46,719 | $ (12,915) | $ (7,397) | $ 3,759 | |||||
Ending balance, shares at Sep. 30, 2015 | 6,913,013 |
Consolidated Condensed Stateme8
Consolidated Condensed Statement of Stockholders' Equity (Parenthetical) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
Net change in unrealized gain on securities available for sale, income taxes | $ (1,935) | |
Net change in unrealized loss on derivatives, income tax benefit | $ (98) | (90) |
Accumulated Other Comprehensive Income (Loss) [Member] | ||
Net change in unrealized gain on securities available for sale, income taxes | (1,935) | |
Net change in unrealized loss on derivatives, income tax benefit | $ (98) | $ (90) |
Consolidated Condensed Stateme9
Consolidated Condensed Statements of Cash Flows - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
Cash flows from operating activities: | ||
Net cash provided by operating activities | $ 5,977 | $ 6,601 |
Cash flows from investing activities | ||
Proceeds from sales, calls and maturities of securities available for sale | 91,119 | 81,801 |
Purchase of securities available for sale | (28,162) | (69,927) |
Net (increase) decrease in loans | (26,827) | 12,205 |
Proceeds from sale of foreclosed assets | 318 | 1,001 |
Purchase of premises and equipment | (2,363) | (856) |
Net cash provided by investing activities | 34,085 | 24,224 |
Cash flows from financing activities: | ||
Net increase (decrease) in demand deposits | (1,582) | 2,965 |
Net decrease in time and other deposits | (23,528) | (37,736) |
Increase in advances from borrowers for taxes and insurance | 564 | 328 |
Advances from Federal Home Loan Bank | 36,000 | 27,000 |
Repayment of advances from Federal Home Loan Bank | (45,000) | (33,511) |
Net decrease in repurchase agreements | (11,058) | (6,430) |
Cash used to repurchase treasury stock | (11,370) | (3,027) |
Dividends paid on common stock | (770) | (877) |
Net cash used in financing activities | (56,744) | (51,288) |
Decrease in cash and cash equivalents | (16,682) | (20,463) |
Cash and cash equivalents, beginning of period | 40,439 | 55,848 |
Cash and cash equivalents, end of period | 23,757 | 35,385 |
Supplemental disclosures of cash flow information: | ||
Interest paid | 4,912 | 6,977 |
Income taxes paid | 100 | |
Supplemental disclosures of non-cash investing and financing activities: | ||
Loans charged off | 1,744 | 820 |
Foreclosures and in substance foreclosures of loans during period | 843 | 1,441 |
Net unrealized gains on investment securities classified as as available for sale | 16 | 5,691 |
Decrease in deferred tax asset related to unrealized gains on investments | (5) | (1,935) |
Dividends declared and payable | 289 | 301 |
Issue of treasury stock to ESOP | 7,884 | |
Issue of restricted stock | $ 25 | $ 260 |
Basis of Presentation
Basis of Presentation | 9 Months Ended |
Sep. 30, 2015 | |
Organization, Consolidation and Presentation of Financial Statements [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 Wealth Management agents travel throughout western Kentucky and middle Tennessee offering fixed and variable annuities, mutual funds and brokerage services. In October of 2014, the Bank opened a loan production office in Nashville, Tennessee. 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 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, 2014. The accounting policies followed by the Company are set forth in the Summary of Significant Accounting Policies in the Company’s December 31, 2014, Consolidated Financial Statements. |
Income Per Share
Income Per Share | 9 Months Ended |
Sep. 30, 2015 | |
Earnings Per Share [Abstract] | |
Income Per Share | (2) INCOME PER SHARE The following schedule reconciles the numerators and denominators of the basic and diluted income per share (“IPS”) computations for the three and nine month periods ended September 30, 2015, and September 30, 2014. For the three and nine month periods ended September 30, 2015, the Company’s financial statements reflect a liability adequate to release of 37,063 shares from the HopFed Bancorp, Inc. 2015 Employee Stock Ownership Plan (the “ESOP”). Therefore, the Company has included 37,063 shares held by the ESOP in the IPS calculation. The Company has excluded 562,937 unearned shares purchased and owned by the ESOP from our IPS computations. Diluted common shares arise from the potentially dilutive effect of the Company’s stock options and warrants outstanding. Three Month Period Ended 2015 2014 Basic IPS: Net income $ 510,000 $ 1,953,000 Average common shares outstanding 6,359,556 7,265,597 Net income per share $ 0.08 $ 0.27 Diluted IPS: Net income $ 510,000 $ 1,953,000 Average common shares outstanding 6,359,556 7,265,597 Dilutive effect of stock options — — Average diluted shares outstanding 6,359,556 7,265,597 Net income per share, diluted $ 0.08 $ 0.27 Nine Month Period Ended 2015 2014 Basic IPS: Net income $ 1,748,000 $ 3,232,000 Average common shares outstanding 6,493,449 7,348,708 Net income per share $ 0.27 $ 0.44 Diluted IPS: Net income $ 1,748,000 $ 3,232,000 Average common shares outstanding 6,493,449 7,348,708 Dilutive effect of stock options — — Average diluted shares outstanding 6,493,449 7,348,708 Net income per share, diluted $ 0.27 $ 0.44 |
Stock Compensation
Stock Compensation | 9 Months Ended |
Sep. 30, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Stock Compensation | (3) STOCK COMPENSATION The Company incurred compensation cost related to the HopFed Bancorp, Inc. 2004 Long Term Incentive Plan of $46,000 and $144,000 for the three and nine month periods ended September 30, 2015, and $49,000 and $114,000 for the three and nine month periods ended September 30, 2014, respectively. The Company issued 1,263 and 2,034 shares of restricted stock during the three and nine month periods ended September 30, 2015. The Company issued 2,140 and 22,378 shares of restricted stock during the three and nine month periods ended September 30, 2014. The table below provides a detail of the Company’s future compensation expense related to restricted stock vesting at September 30, 2015: Year Ending December 31, Future 2015 $ 45,857 2016 139,040 2017 52,215 2018 9,387 2019 2,604 Total $ 249,103 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 | 9 Months Ended |
Sep. 30, 2015 | |
Cash and Cash Equivalents [Abstract] | |
Securities | (4) SECURITIES Management evaluates securities for other-than-temporary impairment at least on a quarterly basis, and more frequently when economic or market concerns warrant such evaluations. Consideration is given to (1) the length of time and the extent to which the fair value has been less than cost, (2) the financial condition and near-term prospects of the issuer, and (3) the intent and ability of the Company to retain its investment in the issuer for a period of time sufficient to allow for any anticipated recovery in fair value. At September 30, 2015, the Company has 42 securities with unrealized losses. The carrying amount of securities and their estimated fair values at September 30, 2015, were as follows: September 30, 2015 Gross Gross Estimated Amortized Unrealized Unrealized Fair Cost Gains Losses Value (Dollars in Thousands) Restricted: FHLB stock $ 4,428 — — 4,428 Available for sale: U.S. Treasury securities $ 2,001 9 — 2,010 Agency debt securities 91,190 2,352 (159 ) 93,383 Taxable municipal bonds 7,173 217 (16 ) 7,374 Tax free municipal bonds 47,209 2,525 (96 ) 49,638 Trust preferred securities 1,613 177 — 1,790 Mortgage-backed securities: GNMA 20,214 249 (89 ) 20,374 FNMA 31,596 583 (20 ) 32,159 FHLMC 5,353 46 (16 ) 5,383 SLMA CMO 3,819 — (183 ) 3,636 AGENCY CMO 23,958 259 (42 ) 24,175 $ 234,126 6,417 (621 ) 239,922 The carrying amount of securities and their estimated fair values at December 31, 2014, was as follows: December 31, 2014 Gross Gross Estimated Amortized Unrealized Unrealized Fair Cost Gains Losses Value (Dollars in Thousands) Restricted: FHLB stock $ 4,428 — — 4,428 Available for sale: U.S. Treasury securities $ 3,977 3 — 3,980 Agency debt securities 101,654 2,125 (527 ) 103,252 Tax free municipal bonds 57,399 3,814 (166 ) 61,047 Taxable municipal bonds 11,871 235 (63 ) 12,043 Trust preferred securities 1,600 — (111 ) 1,489 Commercial bonds 2,000 7 — 2,007 Mortgage-backed securities: GNMA 27,535 670 (122 ) 28,083 FNMA 50,617 694 (536 ) 50,775 FHLMC 3,276 38 — 3,314 SLMA CMO 9,895 — (252 ) 9,643 AGENCY CMO 28,024 176 (205 ) 27,995 $ 297,848 7,762 (1,982 ) 303,628 The scheduled maturities of debt securities available for sale at September 30, 2015, were as follows: Estimated Amortized Fair September 30, 2015 Cost Value Due within one year $ 4,830 $ 4,894 Due in one to five years 26,697 27,089 Due in five to ten years 29,401 30,316 Due after ten years 24,604 26,089 85,532 88,388 Amortizing agency bonds 63,654 65,807 Mortgage-backed securities 84,940 85,727 Total unrestricted securities available for sale $ 234,126 $ 239,922 The scheduled maturities of debt securities available for sale at December 31, 2014, were as follows: Estimated Amortized Fair December 31, 2014 Cost Value Due within one year $ 4,830 $ 4,927 Due in one to five years 21,564 21,818 Due in five to ten years 41,683 42,613 Due after ten years 33,119 35,380 101,196 104,738 Amortizing agency bonds 77,305 79,080 Mortgage-backed securities 119,347 119,810 Total unrestricted securities available for sale $ 297,848 $ 303,628 The estimated fair value and unrealized loss amounts of temporarily impaired investments as of September 30, 2015, are as follows: Less than 12 months 12 months or longer Total Estimated Unrealized Estimated Unrealized Estimated Unrealized Fair Value Losses Fair Value Losses Fair Value Losses (Dollars in Thousands) Available for sale U.S. Agency debt securities $ 5,009 (13 ) 9,997 (146 ) 15,006 (159 ) Taxable municipals — — 1,926 (16 ) 1,926 (16 ) Tax free municipals — — 6,308 (96 ) 6,308 (96 ) Mortgage-backed securities: GNMA 4,180 (22 ) 10,694 (67 ) 14,874 (89 ) FNMA 2,267 (12 ) 3,101 (8 ) 5,368 (20 ) FHLMC 2,539 (16 ) — — 2,539 (16 ) SLMA CMOs — — 3,636 (183 ) 3,636 (183 ) AGENCY CMOs 2,422 (27 ) 2,072 (15 ) 4,494 (42 ) Total available for sale $ 16,417 (90 ) 37,734 (531 ) 54,151 (621 ) The estimated fair value and unrealized loss amounts of temporarily impaired investments as of December 31, 2014, were as follows: Less than 12 months 12 months or longer Total Estimated Unrealized Estimated Unrealized Estimated Unrealized Fair Value Losses Fair Value Losses Fair Value Losses Available for sale U.S. Agency debt securities $ 14,021 (20 ) 29,156 (507 ) 43,177 (527 ) Taxable municipals — — 4,785 (63 ) 4,785 (63 ) Tax free municipals — — 6,647 (166 ) 6,647 (166 ) Trust preferred securities — — 1,489 (111 ) 1,489 (111 ) Mortgage-backed securities: GNMA 12,568 (108 ) 2,895 (14 ) 15,463 (122 ) FNMA — — 18,927 (536 ) 18,927 (536 ) SLMA CMOs 1,923 (14 ) 7,720 (238 ) 9,643 (252 ) AGENCY CMOs 9,545 (91 ) 7,685 (114 ) 17,230 (205 ) Total available for sale $ 38,057 (233 ) 79,304 (1,749 ) 117,361 (1,982 ) At September 30, 2015, and December 31, 2014, the Company evaluated all securities with unrealized losses to determine if any such securities were other than temporarily impaired. At September 30, 2015, and December 31, 2014, the Company has determined that none of its securities are other than temporarily impaired. At September 30, 2015, securities with a book value of approximately $124.8 million and a market value of approximately $129.6 million were pledged to various municipalities for deposits in excess of FDIC limits as required by law. At September 30, 2015, securities with a book value of $39.7 million and market value of $40.3 million were sold under agreements to repurchase from various customers. Furthermore, the Company has a wholesale repurchase agreement with third party secured by investments with a combined book value of $6.7 million and a market value of $6.9 million. The 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%. |
Loans
Loans | 9 Months Ended |
Sep. 30, 2015 | |
Receivables [Abstract] | |
Loans | (5) LOANS The components of loans receivable in the consolidated balance sheets as of September 30, 2015, and December 31, 2014, were as follows: September 30, 2015 September 30, 2015 December 31, 2014 December 31, 2014 Amount Percent Amount Percent (Dollars in thousands, except percentages) Real estate loans One-to-four family (closed end) first mortgages $ 146,370 25.8 % $ 150,551 27.6 % Second mortgages (closed end) 1,798 0.3 % 2,102 0.4 % Home equity lines of credit 32,976 5.8 % 34,238 6.3 % Multi-family 23,366 4.1 % 25,991 4.8 % Construction 32,669 5.8 % 24,241 4.4 % Land 22,654 4.0 % 26,654 4.9 % Farmland 40,639 7.2 % 42,874 7.8 % Non-residential real estate 157,114 27.7 % 150,596 27.6 % Total mortgage loans 457,586 80.7 % 457,247 83.8 % Consumer loans 18,375 3.2 % 14,438 2.6 % Commercial loans 91,550 16.1 % 74,154 13.6 % Total other loans 109,925 19.3 % 88,592 16.2 % Total loans, gross 567,511 100.0 % 545,839 100.0 % Deferred loan cost, net of fees (510 ) (286 ) Less allowance for loan losses (5,487 ) (6,289 ) Total loans $ 561,514 $ 539,264 The allowance for loan losses totaled $5.5 million at September 30, 2015, $6.3 million at December 31, 2014, and $8.1 million at September 30, 2014, respectively. The ratio of the allowance for loan losses to total loans was 0.97% at September 30, 2015, 1.15% at December 31, 2014, and 1.51% at September 30, 2014. At September 30, 2015, the Company has one land loan, totaling $1.5 million, that is past due 91 days but still accruing interest. The following table indicates the type and level of non-accrual loans at the periods indicated below: September 30, 2015 December 31, 2014 September 30, 2014 (Dollars in Thousands) One-to-four family mortgages $ 1,427 1,501 407 Home equity line of credit 48 — 31 Multi-family 1,968 95 — Land 1,680 215 301 Non-residential real estate 672 1,159 101 Farmland 168 115 12 Consumer loans — — 2 Commercial loans 1,195 90 263 Total non-accrual loans $ 7,158 3,175 1,117 The following table provides a detail of the Company’s activity in the allowance for loan loss account by loan type for the nine month period ended September 30, 2015: General Specific Ending Balance Charge off Recovery Provision Provision Balance 12/31/2014 2015 2015 2015 2015 9/30/2015 One-to-four family mortgages $ 1,198 (143 ) 30 90 (215 ) 960 Home equity line of credit 181 (92 ) 6 86 — 181 Junior liens 14 — 4 (4 ) (6 ) 8 Multi-family 85 — — — (11 ) 74 Construction 146 — — — 51 197 Land 1,123 (911 ) — 514 958 1,684 Non-residential real estate 2,083 (222 ) 2 (375 ) (287 ) 1,201 Farmland 461 — — — (124 ) 337 Consumer loans 494 (224 ) 94 120 (134 ) 350 Commercial loans 504 (152 ) 46 163 (66 ) 495 $ 6,289 (1,744 ) 182 594 166 5,487 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, 2014: General Specific Ending Balance Charge off Recovery Provision Provision Balance 12/31/2013 2014 2014 2014 2014 12/31/2014 One-to-four family mortgages $ 2,048 (233 ) 24 (304 ) (337 ) 1,198 Home equity line of credit 218 (83 ) 3 (37 ) 80 181 Junior liens 39 — 9 (25 ) (9 ) 14 Multi-family 466 — — (381 ) — 85 Construction 88 (139 ) 9 58 130 146 Land 1,305 — — (74 ) (108 ) 1,123 Non-residential real estate 2,719 (66 ) 864 (1,368 ) (66 ) 2,083 Farmland 510 — — 542 (591 ) 461 Consumer loans 541 (415 ) 109 (13 ) 272 494 Commercial loans 748 (296 ) 94 (244 ) 202 504 $ 8,682 (1,232 ) 1,112 (1,846 ) (427 ) 6,289 The table below presents loan balances at September 30, 2015, by loan classification allocated between past due, performing and non-performing: Impaired Loan Currently 30 – 89 Days 90 Days + Non- Special Substandard Doubtful Total (Dollars in Thousands) One-to-four family mortgages $ 142,796 325 — 1,427 330 1,492 — 146,370 Home equity line of credit 32,703 — — 48 — 225 — 32,976 Junior liens 1,746 — — — 36 16 — 1,798 Multi-family 20,272 — — 1,968 — 1,126 — 23,366 Construction 32,669 — — — — — — 32,669 Land 11,604 — 1,486 1,680 43 7,841 — 22,654 Non-residential real estate 147,938 — — 672 4,158 4,346 — 157,114 Farmland 40,309 — — 168 — 162 — 40,639 Consumer loans 18,142 29 — — — 204 — 18,375 Commercial loans 88,384 701 — 1,195 357 913 — 91,550 Total $ 536,563 1,055 1,486 7,158 4,924 16,325 — 567,511 The table below presents loan balances December 31, 2014, by loan classification allocated past due, performing and non-performing: 30 - 89 Impaired Loans Currently Days Non-accrual Special Currently Performing Performing Past Due Loans Mention Substandard Doubtful Total One-to-four family mortgages $ 145,372 757 1,501 203 2,718 — 150,551 Home equity line of credit 33,338 143 — — 757 — 34,238 Junior liens 2,025 — — 40 37 — 2,102 Multi-family 20,066 — 95 2,904 2,926 — 25,991 Construction 24,241 — — — — — 24,241 Land 14,674 654 215 362 10,749 — 26,654 Non-residential real estate 131,854 — 1,159 5,492 12,091 — 150,596 Farmland 40,057 64 115 516 2,122 — 42,874 Consumer loans 14,104 14 — 21 299 — 14,438 Commercial loans 71,191 55 90 325 2,493 — 74,154 Total $ 496,922 1,687 3,175 9,863 34,192 — 545,839 The following table presents the balance in the allowance for loan losses and the recorded investment in loans as of September 30, 2015, and December 31, 2014, by portfolio segment and based on the impairment method as of September 30, 2015, and December 31, 2014. Land Development / Commercial Residential Commercial Construction Real Estate Real Estate Consumer Total September 30, 2015: Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ 56 266 143 29 51 $ 545 Collectively evaluated for impairment 439 1,615 1,469 1,120 299 4,942 Total ending allowance balance $ 495 1,881 1,612 1,149 350 $ 5,487 Loans: Loans individually evaluated for impairment $ 2,108 9,521 8,442 3,208 204 $ 23,483 Loans collectively evaluated for impairment 89,442 45,802 212,677 177,936 18,171 544,028 Total ending loans balance $ 91,550 55,323 221,119 181,144 18,375 $ 567,511 Land Development / Commercial Residential Commercial Construction Real Estate Real Estate Consumer Total December 31, 2014: Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ — 663 738 51 62 $ 1,514 Collectively evaluated for impairment 504 606 1,891 1,342 432 4,775 Total ending allowance balance $ 504 1,269 2,629 1,393 494 $ 6,289 Loans: Loans individually evaluated for impairment $ 2,583 10,964 18,508 5,013 299 $ 37,367 Loans collectively evaluated for impairment 71,571 39,931 200,953 181,878 14,139 508,472 Total ending loans balance $ 74,154 50,895 219,461 186,891 14,438 $ 545,839 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 (net recovery) ratios for nine month periods ended September 30, 2015, September 30, 2014, and the year ended December 31, 2014, was 0.37%, (0.05%) and 0.02%, respectively. The ratios of allowance for loan losses to non-accrual loans at September 30, 2015, September 30, 2014, and December 31, 2014, were 76.7%, 728.1%, and 198.08%, 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 ninety days. The Company uses the following risk definitions for risk grades: Satisfactory Watch out-of asset-based asset-based one-time Special Mention A Substandard past-due A loan classified Doubtful charge-off 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 September 30, 2015, December 31, 2014, and September 30, 2014, the Company’s impaired loans totaled $23.5 million, $37.4 million and $38.4 million, respectively. At September 30, 2015, December 31, 2014 and September 30, 2014, the Company’s specific reserve for impaired loans totaled $545,000, $1.5 million and $2.9 million respectively. Loans by classification type and the related allowance amounts at September 30, 2015, are as follows: Specific Allowance Allowance for September 30, 2015 Special Impaired Loans for Performing Pass Mention Substandard Doubful Total Impairment Loans (Dollars in Thousands) One-to-four family mortgages $ 143,121 330 2,919 — 146,370 29 931 Home equity line of credit 32,703 — 273 — 32,976 — 181 Junior liens 1,746 36 16 — 1,798 — 8 Multi-family 20,272 — 3,094 — 23,366 — 74 Construction 32,669 — — — 32,669 — 197 Land 11,604 1,529 9,521 — 22,654 266 1,417 Non-residential real estate 147,938 4,158 5,018 — 157,114 143 1,058 Farmland 40,309 — 330 — 40,639 — 337 Consumer loans 18,171 — 204 — 18,375 51 300 Commercial loans 89,085 357 2,108 — 91,550 56 439 Total $ 537,618 6,410 23,483 — 567,511 545 4,942 Loans by classification type and the related allowance amounts at December 31, 2014, are as follows: Special Impaired Loans Specific Allowance For Performing Pass Mention Substandard Doubtful Total Impairment Loans December 31, 2014 One-to-four family mortgages $ 146,129 203 4,219 — 150,551 51 1,147 Home equity line of credit 33,481 — 757 — 34,238 — 181 Junior lien 2,025 40 37 — 2,102 — 14 Multi-family 20,066 2,904 3,021 — 25,991 — 85 Construction 24,241 — — — 24,241 — 146 Land 15,328 362 10,964 — 26,654 663 460 Non-residential real estate 131,854 5,492 13,250 — 150,596 738 1,345 Farmland 40,121 516 2,237 — 42,874 — 461 Consumer loans 14,118 21 299 — 14,438 62 432 Commercial loans 71,246 325 2,583 — 74,154 — 504 Total $ 498,609 9,863 37,367 — 545,839 1,514 4,775 Impaired loans by classification type and the related valuation allowance amounts at September 30, 2015, were as follows: For the nine month period ended At September 30, 2015 September 30, 2015 Unpaid Average Interest Impaired loans with no specific allowance Recorded Principal Related Recorded Income Investment Balance Allowance Investment Recognized One-to-four family mortgages $ 2,212 2,212 — 2,343 55 Home equity line of credit 273 273 — 553 9 Junior liens 16 16 — 17 1 Multi-family 3,094 3,094 — 3,019 126 Construction — — — — — Land 7,290 7,290 — 8,014 350 Farmland 330 330 — 268 35 Non-residential real estate 4,297 4,297 — 7,819 253 Consumer loans — — — 3 — Commercial loans 1,908 1,908 — 1,707 72 Total 19,420 19,420 — 23,743 901 Impaired loans with a specific allowance: One-to-four family mortgages 707 707 29 710 30 Home equity line of credit — — — — — Junior liens — — — — — Multi-family — — — — — Construction — — — — — Land 2,231 3,248 266 2,083 72 Farmland — — — — — Non-residential real estate 721 721 143 875 20 Consumer loans 204 204 51 191 — Commercial loans 200 200 56 419 7 Total 4,063 5,080 545 4,278 129 Total impaired loans $ 23,483 24,500 545 28,021 1,030 Impaired loans by classification type and the related valuation allowance amounts at December 31, 2014, were as follows: At December 31, 2014 For the year ended Impaired loans with no specific allowance Recorded Unpaid Related Average Interest One-to-four family mortgages $ 3,501 3,501 — 2,972 176 Home equity line of credit 757 757 — 690 35 Junior liens 37 37 — 39 2 Multi-family 3,021 3,021 — 1,342 190 Construction — — — 29 — Land 7,740 7,740 — 8,978 339 Non-residential real estate 12,057 12,057 — 8,672 669 Farmland 2,237 2,237 3,968 125 Consumer loans 51 51 — 36 3 Commercial loans 2,583 2,583 — 2,246 154 Total 31,984 31,984 — 28,972 1,693 Impaired loans with a specific allowance One-to-four family mortgages $ 718 718 51 1,434 44 Home equity line of credit — — — — — Junior liens — — — — — Multi-family — — — — — Construction — — — — — Land 3,224 4,737 663 3,418 160 Non-residential real estate 1,193 1,258 738 3,617 69 Farmland — — — 619 — Consumer loans 248 248 62 355 — Commercial loans — — — 100 — Total 5,383 6,961 1,514 9,543 273 Total impaired loans $ 37,367 38,945 1,514 38,515 1,966 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. • The restructuring constitutes a concession • The debtor is experiencing financial difficulties ASU 310 provides the following guidance for the Bank’s evaluation of whether it has granted a concession as follows: • If a debtor does not otherwise have access to funds at a market interest rate for debt with similar risk characteristics as the restructured debt, the restructured debt would be considered a below market rate, which may indicate that the Bank may have granted a concession. In that circumstance, the Bank should consider all aspects of the restructuring in determining whether it has granted a concession, the creditor must make a separate assessment about whether the debtor is experiencing financial difficulties to determine whether the restructuring constitutes a TDR. • A temporary or permanent increase in the interest rate on a loan as a result of a restructuring does not eliminate the possibility of the restructuring from being considered a concession if the new interest rate on the loan is below the market interest rate for loans of similar risk characteristics. • A restructuring that results in a delay in payment that is insignificant is not a concession. However, the Bank must consider a variety of factors in assessing whether a restructuring resulting in a delay in payment is insignificant. For the three month period ended September 30, 2015, the Company classified two additional loans as TDRs. At September 30, 2015, the two new TDR’s are interest only loans for six months. At September 30, 2015, the two notes that were previously classified as TDR have now begun to make monthly principal and interest payments but remain classified as TDR at this time. A summary of the activity in loans classified as TDRs for the nine month period ended September 30, 2015, is as follows: Balance at New Loss or Loan Removed (Taken to) Balance at December 31, 2014 TDR Foreclosure Amortization Non-accrual September 30, 2015 (Dollars in Thousands) Non-residential real estate $ 3,284 2,149 — (1 ) — 5,432 Total performing TDR $ 3,284 2,149 — (1 ) — 5,432 A summary of the activity in loans classified as TDRs for the twelve month period ended December 31, 2014, is as follows Balance at New Loss or Transferred to Removed (Taken to) Balance at December 31, 2013 TDR Foreclosure Held For Sale Non-accrual December 31, 2014 (Dollars in Thousands) Non-residential real estate $ — 10,271 — (6,987 ) — 3,284 Total performing TDR $ — 10,271 — (6,987 ) — 3,284 |
Real Estate and Other Assets Ow
Real Estate and Other Assets Owned | 9 Months Ended |
Sep. 30, 2015 | |
Text Block [Abstract] | |
Real Estate and Other Assets Owned | (6) REAL ESTATE AND OTHER ASSETS OWNED The Company’s real estate and other assets owned represent properties and personal collateral acquired through customer loan defaults. The property is recorded at the lower of cost or fair value less estimated cost to sell and carrying cost at the date acquired. Any difference between the book value and estimated market value is recognized as a charge off through the allowance for loan loss account. Additional real estate owned and other asset losses may be determined on individual properties at specific intervals or at the time of disposal. In general, the Company will obtain a new appraisal on all real estate owned with a book balance in excess of $250,000 on an annual basis. Additional losses are recognized as a non-interest expense. At September 30, 2015, December 31, 2014, and September 30, 2014, the composition of the Company’s balance of non-accrual loans, real estate owned and other assets owned are as follows: September 30, 2015 December 31, 2014 September 30, 2014 (Dollars in Thousands) One-to-four family mortgages $ 55 159 120 Land 943 1,768 1,834 Non-residential real estate 738 — — Total other assets owned $ 1,736 1,927 1,954 Total non-accrual loans $ 7,158 3,175 1,117 Past due 90 days still accruing 1,486 — — Total non-performing assets $ 10,380 5,102 3,071 Non-performing assets / Total assets 1.18 % 0.55 % 0.33 % The following is a summary of the activity in the Company’s real estate and other assets owned for the nine month period ending September 30, 2015: Activity During 2015 Balance Reduction Gain (Loss) Balance December 31, 2014 Foreclosures Proceeds in Values on Sale September 30, 2015 (Dollars in Thousands) One-to-four family mortgages $ 159 105 (194 ) — (15 ) 55 Land 1,768 — (124 ) — (701 ) 943 Non-residential real estate — 738 — — — 738 Total $ 1,927 843 (318 ) — (716 ) 1,736 The following is a summary of the activity in the Company’s real estate and other assets owned for the year ended December 31, 2014: Activity During 2014 Balance Reduction Gain (Loss) Balance December 31, 2013 Foreclosures Sales in Values on Sale December 31, 2014 (Dollars in Thousands) One-to-four family mortgages $ 350 461 (667 ) (5 ) 20 159 Land 1,124 943 (123 ) (157 ) (19 ) 1,768 Non-residential real estate 200 175 (328 ) — (47 ) — Total $ 1,674 1,579 (1,118 ) (162 ) (46 ) 1,927 |
Investments in Affiliated Compa
Investments in Affiliated Companies | 9 Months Ended |
Sep. 30, 2015 | |
Investments in and Advances to Affiliates, Schedule of Investments [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 September 30, 2015 December 31, 2014 Assets - investment in subordinated debentures issued by HopFed Bancorp, Inc. $ 10,310 10,310 Liabilities — — Stockholder’s equity – trust preferred securities 10,000 10,000 Common stock (100% Owned by HopFed Bancorp, Inc.) 310 310 Total stockholders’ equity $ 10,310 10,310 Summary Statement of Income Three Month Periods Nine Month Period Ended September 30, Ended September 30, 2015 2014 2015 2014 Income – interest income from subordinated debenturesissued by HopFed Bancorp, Inc. $ 87 88 $ 264 261 Net income $ 87 88 $ 264 261 Summary Statement of Stockholders’ Equity (For the nine month period ended September 30, 2015) Trust Common Retained Total Beginning balances, December 31, 2014 $ 10,000 310 — 10,310 Net income — — 264 264 Dividends: Trust preferred securities — — (256 ) (256 ) Common paid to HopFed Bancorp, Inc. — — (8 ) (8 ) Ending balances, September 30, 2015 $ 10,000 310 — 10,310 |
Fair Value of Assets and Liabil
Fair Value of Assets and Liabilities | 9 Months Ended |
Sep. 30, 2015 | |
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 • 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 Company’s $1.8 million book value trust preferred is the only investment security classified as a Level 3 asset. The Company determines the value of the security by computing the present value of all scheduled future cash flows and discount accretion to determine an estimated market value for the security. 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 liability associated with the Company’s derivative is obtained from a quoted value supplied by our correspondent banker. The value of real estate owned is obtained from appraisals completed on properties at the time of acquisition and annually thereafter. Assets and Liabilities Measured on a Recurring Basis The assets and liabilities measured at fair value on a recurring basis at September 30, 2015, are summarized below: Total carrying Quoted Prices Significant September 30, 2015 value in the In Active Other Significant consolidated Markets for Observable Unobservable balance sheet at Identical Assets Inputs Inputs Description September 30, 2015 (Level 1) (Level 2) (Level 3) Assets Available for sale securities $ 239,922 2,010 236,122 1,790 Liabilities Interest rate swap $ 99 — 99 — The assets and liabilities measured at fair value on a recurring basis at December 31, 2014, are summarized below Total carrying Quoted Prices Significant value in the In Active Other Significant December 31, 2014 consolidated Markets for Observable Unobservable balance sheet at Identical Assets Inputs Inputs Description December 31, 2014 (Level 1) (Level 2) (Level 3) Assets Available for sale securities $ 303,628 3,980 298,159 1,489 Liabilities Interest rate swap $ 390 — 390 — The assets and liabilities measured at fair value on a non-recurring basis are summarized below for September 30, 2015: Total carrying Quoted Prices Significant value in the In Active Other Significant September 30, 2015 consolidated Markets for Observable Unobservable balance sheet at Identical Assets Inputs Inputs Description 9/30/2015 (Level 1) (Level 2) (Level 3) (Dollars in Thousands) Assets Other real estate and other assets owned $ 1,736 — — $ 1,736 Impaired loans, net of reserve of $545 $ 3,518 — — $ 3,518 The assets and liabilities measured at fair value on a non-recurring basis are summarized below for December 31, 2014: Total carrying Quoted Prices Significant value in the In Active Other Significant December 31, 2014 consolidated Markets for Observable Unobservable balance sheet at Identical Assets Inputs Inputs Description 12/31/2014 (Level 1) (Level 2) (Level 3) Assets Other real estate and other assets owned $ 1,927 — — $ 1,927 Impaired loans, net of reserve of $1,514 $ 3,869 — — $ 3,869 The table below includes a roll-forward of the consolidated condensed statement of financial condition items for the nine month periods ended September 30, 2015, and September 30, 2014, (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. 2015 2014 Nine month period ended September 30, Other Assets Other Liabilities Other Assets Other Liabilities (Dollars in Fair value, January 1, $ 1,489 — 1,489 — Change in unrealized losses included in other comprehensive income for assets and liabilities still held at September 30, 289 — — — Accretion of previous discounted amounts 12 — — — Purchases, issuances and settlements, net — — — — Transfers in and/or out of Level 3 — — — — Fair value, September 30, $ 1,790 — 1,489 — The estimated fair values of financial instruments were as follows at September 30, 2015: Using Quoted Prices Significant In Active Markets Other Significant Estimated for Identical Observable Unobservable Carrying Fair Assets Inputs Inputs Amount Value Level 1 Level 2 Level 3 Financial Assets: Cash and due from banks $ 18,110 18,110 18,110 — — Interest-earning deposits 5,647 5,647 5,647 — — Securities available for sale 239,922 239,922 2,010 236,122 1,790 Federal Home Loan Bank stock 4,428 4,428 — 4,428 — Loans held for sale 5,298 5,298 — 5,298 — Loans receivable 561,514 562,862 — — 562,862 Accrued interest receivable 4,119 4,119 — 4,119 — Financial liabilities: Deposits 706,198 689,565 — 689,565 — Advances from borrowers for taxes and insurance 1,077 1,077 — 1,077 — Advances from Federal Home Loan Bank 25,000 24,979 — 24,979 — Repurchase agreements 46,300 46,516 — 46,516 — Subordinated debentures 10,310 10,099 — — 10,099 Off-balance-sheet liabilities: Market value of interest rate swap 99 99 — 99 — The estimated fair values of financial instruments were as follows at December 31, 2014: Using Quoted Prices Significant In Active Markets Other Significant Estimated for Identical Observable Unobservable Carrying Fair Assets Inputs Inputs Amount Value Level 1 Level 2 Level 3 Financial Assets: Cash and due from banks $ 34,389 34,389 34,389 — — Interest-earning deposits 6,050 6,050 6,050 — — Securities available for sale 303,628 303,628 3,980 298,159 1,489 Federal Home Loan Bank stock 4,428 4,428 — 4,428 — Loans held for sale 1,444 1,444 — 1,444 — Loans receivable 539,264 537,493 — — 537,493 Accrued interest receivable 4,576 4,576 — 4,576 — Financial liabilities: Deposits 731,308 714,750 — 714,750 — Advances from borrowers for taxes and insurance 513 513 — 513 — Advances from Federal Home Loan Bank 34,000 34,217 — 34,217 — Repurchase agreements 57,358 57,688 — 57,688 — Subordinated debentures 10,310 10,099 — — 10,099 Off-balance-sheet liabilities: Market value of interest rate swap 390 390 — 390 — |
Derivative Instruments
Derivative Instruments | 9 Months Ended |
Sep. 30, 2015 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative Instruments | (9) DERIVATIVE INSTRUMENTS Under guidelines of Financial Accounting Standards Board (“FASB”) ASC 815 , Derivative Instruments and Hedging Activities A derivative instrument designated in a hedge relationship to mitigate exposure to changes in the fair value of an asset, liability or firm commitment attributable to a particular risk, such as interest rate risk, are considered fair value hedges under ASC 815. Derivative instruments designated in a hedge relationship to mitigate exposure to variability in expected future cash flows, or other types of forecasted transactions, are considered cash flow hedges. Cash value hedges are accounted for by recording the fair value of the derivative instrument and the fair value related to the risk being hedged of the hedged asset or liability on the consolidated statement of financial position with corresponding offsets recorded in the consolidated statement of financial position. The adjustment to the hedged asset or liability is included in the basis of the hedged item, while the fair value of the derivative is recorded as a freestanding asset or liability. Actual cash receipts or payments and related amounts accrued during the period on derivatives included in a fair value hedge relationship are recorded as adjustments to the income or expense recorded on the hedged asset or liability. Under both the fair value and cash flow hedge methods, derivative gains and losses not effective in hedging the change in fair value or expected cash flows of the hedged item are recognized immediately in the income statement. At the hedge’s inception and at least quarterly thereafter, a formal assessment is performed to determine whether changes in the fair values or cash flows of the derivative instrument has been highly effective in offsetting changes in the fair values or cash flows of the hedged items and whether they are expected to be highly effective in the future. If it is determined a derivative instrument has not been, or will not continue to be highly effective as a hedge, hedged accounting is discontinued. ASC 815 basis adjustments recorded on hedged assets and liabilities are amortized over the remaining life of the hedged item beginning no later than when hedge accounting ceases. There were no fair value hedging gains or losses, as a result of hedge ineffectiveness, recognized for the nine month period ended September 30, 2015, or the year ended December 31, 2014. In October of 2008, the Company entered into an interest rate swap agreement for a term of seven years and an amount of $10.0 million. The Company pays 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 Company. At September 30, 2015, and December 31, 2014, the cost of the Company to terminate the cash flow hedge was approximately $99,000 and $390,000, respectively. The interest rate swap agreement expires October 8, 2015. |
Effect of New Accounting Pronou
Effect of New Accounting Pronouncements | 9 Months Ended |
Sep. 30, 2015 | |
Accounting Changes and Error Corrections [Abstract] | |
Effect of New Accounting Pronouncements | (10) EFFECT OF NEW ACCOUNTING PRONOUNCEMENTS ASU 2015-01, “Income Statement - Extraordinary and Unusual Items (Subtopic 225-20) – Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items.” ASU No. 2015-02, “Amendments to the Consolidation Analysis.” Affect the consolidation analysis of reporting entities that are involved with VIEs, particularly those that have fee arrangements and related party relationships; and (4) Provide a scope exception from consolidation guidance for reporting entities with interests in legal entities that are required to comply with or operate in accordance with requirements that are similar to those in Rule 2a-7 of the Investment Company Act of 1940 for registered money market funds. ASU No. 2015-02 is effective for interim and annual reporting periods beginning after December 15, 2015. The Company is currently evaluating the provisions of ASU No. 2015-02 to determine the potential impact the new standard will have on the Company’s Consolidated Financial Statements. In May 2014, the FASB issued new guidance related to Revenue from Contracts with Customers Revenue Recognition In September 2015, the FASB issued Accounting Standards Update No. 2015-16, Simplifying the Accounting for Measurement-Period Adjustments Other accounting standards that have been issued or proposed by the FASB or other standards-setting bodies are not expected to have a material impact on the Company’s financial position, results of operations or cash flows. |
Income Taxes
Income Taxes | 9 Months Ended |
Sep. 30, 2015 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | (11) 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 34% 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. |
Other Assets
Other Assets | 9 Months Ended |
Sep. 30, 2015 | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | |
Other Assets | (12) OTHER ASSETS The Company has invested in two flow-through limited liability entities that manage and invest in affordable housing projects that qualify for historic, low-income and elderly housing tax credits. At September 30, 2015, the Company’s total investment in each entity was $422,000 and $1.0 million, respectively. The Company has no future capital commitments to either entity. The amounts recognized in net income for these investments for the three and nine month periods below include: For the three months For the nine months ended September 30, ended September 30, 2015 2014 2015 2014 Investment loss included in pre-tax income $ 55 51 $ 165 153 Tax credits recognized in provision for income taxes $ 24 20 $ 72 60 |
Esop Plan
Esop Plan | 9 Months Ended |
Sep. 30, 2015 | |
Text Block [Abstract] | |
Esop Plan | (13) ESOP PLAN All Company employees participate in the 2015 HopFed Bancorp, Inc. Employee Stock Ownership Plan (ESOP). The ESOP purchased 600,000 shares of the Company’s common stock from the Company on March 2, 2015, at $13.14 per share. The ESOP borrowed $7.9 million from the Company for the purchase of the stock, using the 600,000 shares of common stock as collateral. The Company makes discretionary contributions to the ESOP. The ESOP utilizes these contributions along with the dividends on the 600,000 held by the ESOP to repay the loan from the Company. When loan payments are made, ESOP shares are released based on reduction in the principal balance of the loan. The shares are allocated to participants based on relative compensation. Employees who are not employed at the December 31 st At September 30, 2015, the ESOP has not made a loan payment to the Company. At September 30, 2015, the Company has an accrued ESOP contribution liability of approximately $630,000. At September 30, 2015, the Company has calculated that our current accrual would be sufficient to release 37,063 shares of ESOP shares to participants. At September 30, 2015, shares held by the ESOP were as follows: Accrued to allocate to Participants 37,063 Unearned ESOP shares 562,937 Total ESOP shares 600,000 Fair value of unearned shares $ 6,727,097 |
Commitments and Contingencies
Commitments and Contingencies | 9 Months Ended |
Sep. 30, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | (14) COMMITMENTS AND CONTINGENCIES At September 30, 2015, the Company had $19.7 million in outstanding commitments to originate loans and undisbursed commitments on loans outstanding of $109.3 million. Management believes that the Company’s sources of funds are sufficient to fund all of its outstanding commitments. Certificates of deposits scheduled to mature in one year or less from September 30, 2015, totaled $200.1 million. Management believes that a significant percentage of such deposits will remain with the Company. At September 30, 2015, the Company has deposit balances totaling $30.2 million that exceed FDIC insurance limits without additional collateral pledged. The Company’s FHLB borrowings are secured by a blanket security agreement pledging the Company’s 1-4 family first mortgage loans and non-residential real estate loans. At September 30, 2015, the Company has pledged all eligible 1-4 family first mortgages. At September 30, 2015, the Company has outstanding borrowings of $25.0 million from the FHLB. At September 30, 2015, the Company’s has a $4.0 million borrowing that matures on March 17, 2016, with an interest rate of 5.34% and $6.0 million that matures on July 6, 2018, with an interest rate of 1.18%. The Federal Home Loan Bank of Cincinnati has issued letters of credit in the Bank’s name totaling $13.0 million secured by the Company’s loan portfolio to secure select municipal deposits with balances in excess of FDIC insurance limits. At September 30, 2015, the Company had $45.6 million in additional borrowing capacity with the FHLB. The Company’s borrowing capacity with the FHLB includes an overnight line of credit of $30.0 million. At September 30, 2015, the Company’s had $15.0 million outstanding against the overnight line of credit. The Company has an $8.0 million unsecured overnight borrowing capacity from a correspondent bank. The Company’s exposure to credit loss in the event of non-performance by the other party to the financial instrument for commitments to extend credit and standby letters of credit and financial guarantees written is represented by the contractual notional amount of those instruments. The Company uses the same credit policies in making these commitments and conditional obligations as it does for on-balance-sheet instruments. At September 30, 2015, the Company had the following off-balance sheet commitments (in thousands): Standby letters of credit $ 47 Unused home equity lines of credit $ 30,034 Unused commercial lines of credit $ 51,767 Unused unsecured personal lines of credit $ 27,458 Unfunded commitments on commercial loans $ 19,726 |
Regulatory Matters
Regulatory Matters | 9 Months Ended |
Sep. 30, 2015 | |
Banking and Thrift [Abstract] | |
Regulatory Matters | (15) REGULATORY MATTERS In July 2013, the Federal Reserve Board and the FDIC approved final rules that substantially amend the regulatory capital rules applicable to Heritage Bank USA, Inc. and HopFed Bancorp, Inc. The final rules implement the regulatory capital reforms of the Basel Committee on Banking Supervision reflected in “Basel III: A Global Regulatory Framework for More Resilient Banks and Banking Systems” (Basel III) and changes required by the Dodd-Frank Act. Under these rules, the leverage and risk-based capital ratios of bank holding companies may not be lower than the leverage and risk-based capital ratios for insured depository institutions. The final rules implementing the Basel III regulatory capital reforms became effective for the Company and Bank on January 1, 2015, and include new minimum risk-based capital and leverage ratios. Moreover, these rules refine the definition of what constitutes “capital” for purposes of calculating those ratios, including the definitions of Tier 1 capital and Tier 2 capital. The new minimum capital level requirements applicable to bank holding companies and banks subject to the rules are: (i) a new common equity Tier 1 capital ratio of 4.5%; (ii) a Tier 1 risk-based capital ratio of 6% (increased from 4%); (iii) a total risk-based capital ratio of 8%; (iv) a Tier 1 leverage ratio of 4% for all institutions. The rules also establish a “capital conservation buffer” of 2.5% (to be phased in over three years) above the new regulatory minimum risk-based capital ratios, and result in the following minimum ratios once the capital conservation buffer is fully phased in: (i) a common equity Tier 1 risk-based capital ratio of 7%, (ii) a Tier 1 risk-based capital ratio of 8.5%, and (iii) a total risk-based capital ratio of 10.5%. The capital conservation buffer requirement is being phased in beginning in January 2016 at 0.625% of risk-weighted assets and will increase each year until fully implemented in January 2019. An institution is subject to limitations on paying dividends, engaging in share repurchases and paying discretionary bonuses if capital levels fall below minimum plus the buffer amounts. These limitations establish a maximum percentage of eligible retained income that could be utilized for such actions. Under these new rules, Tier 1 capital generally consist of common stock (plus related surplus) and retained earnings, limited amounts of minority interest in the form of additional Tier 1 capital instruments, and non-cumulative preferred stock and related surplus, subject to certain eligibility standards, less goodwill and other specified intangible assets and other regulatory deductions. Cumulative preferred stock and trust preferred securities issued after May 19, 2010, will no longer qualify as Tier 1 capital, but such securities issued prior to May 19, 2010, including in the case of bank holding companies with less than $15.0 billion in total assets, trust preferred securities issued prior to that date, will continue to count as Tier 1 capital subject to certain limitations. The definition of Tier 2 capital is generally unchanged for most banking organizations, subject to certain new eligibility criteria. Common equity Tier 1 capital generally consist of common stock (plus related surplus) and retained earnings plus limited amounts of minority interest in the form of common stock, less goodwill and other specified intangible assets and other regulatory deductions. The final rules allow banks and their holding companies with less than $250 billion in assets a one-time opportunity to opt-out of a requirement to include unrealized gains and losses in accumulated other comprehensive income in their capital calculation. The Company has made the decision to opt-out of this requirement. The Federal Reserve has adopted regulations applicable to bank holding companies with assets over $10 billion that require such holding companies and banks to conduct annual stress tests and report the results to the applicable regulators and publicly disclose a summary of certain capital information and results including pro forma changes in regulatory capital ratios. The Board of Directors and senior management are required to consider the results of the stress test in the normal course of business, including but not limited to capital planning and an assessment of capital adequacy in accordance with management’s policies. The FDIC has adopted all guidelines applicable to state nonmember banks in each case. At September 30, 2015, the Company and the Bank exceeded all regulatory capital requirements. The table below presents certain information relating to the Company’s and Bank’s capital compliance at September 30, 2015: Company Bank Amount Percent Amount Percent (Dollars in Thousands) Common equity tier 1 ratio $ 95,063 16.34 % $ 92,557 15.90 % Tier 1 leverage ratio $ 95,063 10.92 % $ 92,557 10.67 % Tier 1 risk-based capital ratio $ 95,063 16.34 % $ 92,557 15.90 % Total risk based capital ratio $ 100,550 17.20 % $ 98,044 16.84 % |
Loans (Policies)
Loans (Policies) | 9 Months Ended |
Sep. 30, 2015 | |
Accounting Changes and Error Corrections [Abstract] | |
Troubled Debt Restructuring | 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. • The restructuring constitutes a concession • The debtor is experiencing financial difficulties ASU 310 provides the following guidance for the Bank’s evaluation of whether it has granted a concession as follows: • If a debtor does not otherwise have access to funds at a market interest rate for debt with similar risk characteristics as the restructured debt, the restructured debt would be considered a below market rate, which may indicate that the Bank may have granted a concession. In that circumstance, the Bank should consider all aspects of the restructuring in determining whether it has granted a concession, the creditor must make a separate assessment about whether the debtor is experiencing financial difficulties to determine whether the restructuring constitutes a TDR. • A temporary or permanent increase in the interest rate on a loan as a result of a restructuring does not eliminate the possibility of the restructuring from being considered a concession if the new interest rate on the loan is below the market interest rate for loans of similar risk characteristics. • A restructuring that results in a delay in payment that is insignificant is not a concession. However, the Bank must consider a variety of factors in assessing whether a restructuring resulting in a delay in payment is insignificant. |
Fair Value Measurement | In September 2006, the FASB issued ASC 820-10, Fair Value Measurements • 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 Company’s $1.8 million book value trust preferred is the only investment security classified as a Level 3 asset. The Company determines the value of the security by computing the present value of all scheduled future cash flows and discount accretion to determine an estimated market value for the security. 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 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. |
Derivative Instruments and Hedging Activities | Under guidelines of Financial Accounting Standards Board (“FASB”) ASC 815 , Derivative Instruments and Hedging Activities A derivative instrument designated in a hedge relationship to mitigate exposure to changes in the fair value of an asset, liability or firm commitment attributable to a particular risk, such as interest rate risk, are considered fair value hedges under ASC 815. Derivative instruments designated in a hedge relationship to mitigate exposure to variability in expected future cash flows, or other types of forecasted transactions, are considered cash flow hedges. Cash value hedges are accounted for by recording the fair value of the derivative instrument and the fair value related to the risk being hedged of the hedged asset or liability on the consolidated statement of financial position with corresponding offsets recorded in the consolidated statement of financial position. The adjustment to the hedged asset or liability is included in the basis of the hedged item, while the fair value of the derivative is recorded as a freestanding asset or liability. Actual cash receipts or payments and related amounts accrued during the period on derivatives included in a fair value hedge relationship are recorded as adjustments to the income or expense recorded on the hedged asset or liability. Under both the fair value and cash flow hedge methods, derivative gains and losses not effective in hedging the change in fair value or expected cash flows of the hedged item are recognized immediately in the income statement. At the hedge’s inception and at least quarterly thereafter, a formal assessment is performed to determine whether changes in the fair values or cash flows of the derivative instrument has been highly effective in offsetting changes in the fair values or cash flows of the hedged items and whether they are expected to be highly effective in the future. If it is determined a derivative instrument has not been, or will not continue to be highly effective as a hedge, hedged accounting is discontinued. ASC 815 basis adjustments recorded on hedged assets and liabilities are amortized over the remaining life of the hedged item beginning no later than when hedge accounting ceases. There were no fair value hedging gains or losses, as a result of hedge ineffectiveness, recognized for the nine month period ended September 30, 2015, or the year ended December 31, 2014. In October of 2008, the Company entered into an interest rate swap agreement for a term of seven years and an amount of $10.0 million. The Company pays 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 Company. At September 30, 2015, and December 31, 2014, the cost of the Company to terminate the cash flow hedge was approximately $99,000 and $390,000, respectively. The interest rate swap agreement expires October 8, 2015. |
Income Statement - Extraordinary and Unusual Items | ASU 2015-01, “Income Statement - Extraordinary and Unusual Items (Subtopic 225-20) – Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items.” |
Amendments to the Consolidation Analysis | ASU No. 2015-02, “Amendments to the Consolidation Analysis.” Affect the consolidation analysis of reporting entities that are involved with VIEs, particularly those that have fee arrangements and related party relationships; and (4) Provide a scope exception from consolidation guidance for reporting entities with interests in legal entities that are required to comply with or operate in accordance with requirements that are similar to those in Rule 2a-7 of the Investment Company Act of 1940 for registered money market funds. ASU No. 2015-02 is effective for interim and annual reporting periods beginning after December 15, 2015. The Company is currently evaluating the provisions of ASU No. 2015-02 to determine the potential impact the new standard will have on the Company’s Consolidated Financial Statements. |
Simplifying Accounting for Measurement-Period Adjustments | In September 2015, the FASB issued Accounting Standards Update No. 2015-16, Simplifying the Accounting for Measurement-Period Adjustments |
Income Per Share (Tables)
Income Per Share (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Earnings Per Share [Abstract] | |
Reconciliation of Basic and Diluted Income (Loss) Per Share | The following schedule reconciles the numerators and denominators of the basic and diluted income per share (“IPS”) computations for the three and nine month periods ended September 30, 2015, and September 30, 2014. For the three and nine month periods ended September 30, 2015, the Company’s financial statements reflect a liability adequate to release of 37,063 shares from the HopFed Bancorp, Inc. 2015 Employee Stock Ownership Plan (the “ESOP”). Therefore, the Company has included 37,063 shares held by the ESOP in the IPS calculation. The Company has excluded 562,937 unearned shares purchased and owned by the ESOP from our IPS computations. Diluted common shares arise from the potentially dilutive effect of the Company’s stock options and warrants outstanding. Three Month Period Ended 2015 2014 Basic IPS: Net income $ 510,000 $ 1,953,000 Average common shares outstanding 6,359,556 7,265,597 Net income per share $ 0.08 $ 0.27 Diluted IPS: Net income $ 510,000 $ 1,953,000 Average common shares outstanding 6,359,556 7,265,597 Dilutive effect of stock options — — Average diluted shares outstanding 6,359,556 7,265,597 Net income per share, diluted $ 0.08 $ 0.27 Nine Month Period Ended 2015 2014 Basic IPS: Net income $ 1,748,000 $ 3,232,000 Average common shares outstanding 6,493,449 7,348,708 Net income per share $ 0.27 $ 0.44 Diluted IPS: Net income $ 1,748,000 $ 3,232,000 Average common shares outstanding 6,493,449 7,348,708 Dilutive effect of stock options — — Average diluted shares outstanding 6,493,449 7,348,708 Net income per share, diluted $ 0.27 $ 0.44 |
Stock Compensation (Tables)
Stock Compensation (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Company's Future Compensation Expense Related to Restricted Stock Vesting | The table below provides a detail of the Company’s future compensation expense related to restricted stock vesting at September 30, 2015: Year Ending December 31, Future 2015 $ 45,857 2016 139,040 2017 52,215 2018 9,387 2019 2,604 Total $ 249,103 |
Securities (Tables)
Securities (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Cash and Cash Equivalents [Abstract] | |
Amortized Cost of Securities and their Estimated Fair Values | The carrying amount of securities and their estimated fair values at September 30, 2015, were as follows: September 30, 2015 Gross Gross Estimated Amortized Unrealized Unrealized Fair Cost Gains Losses Value (Dollars in Thousands) Restricted: FHLB stock $ 4,428 — — 4,428 Available for sale: U.S. Treasury securities $ 2,001 9 — 2,010 Agency debt securities 91,190 2,352 (159 ) 93,383 Taxable municipal bonds 7,173 217 (16 ) 7,374 Tax free municipal bonds 47,209 2,525 (96 ) 49,638 Trust preferred securities 1,613 177 — 1,790 Mortgage-backed securities: GNMA 20,214 249 (89 ) 20,374 FNMA 31,596 583 (20 ) 32,159 FHLMC 5,353 46 (16 ) 5,383 SLMA CMO 3,819 — (183 ) 3,636 AGENCY CMO 23,958 259 (42 ) 24,175 $ 234,126 6,417 (621 ) 239,922 The carrying amount of securities and their estimated fair values at December 31, 2014, was as follows: December 31, 2014 Gross Gross Estimated Amortized Unrealized Unrealized Fair Cost Gains Losses Value (Dollars in Thousands) Restricted: FHLB stock $ 4,428 — — 4,428 Available for sale: U.S. Treasury securities $ 3,977 3 — 3,980 Agency debt securities 101,654 2,125 (527 ) 103,252 Tax free municipal bonds 57,399 3,814 (166 ) 61,047 Taxable municipal bonds 11,871 235 (63 ) 12,043 Trust preferred securities 1,600 — (111 ) 1,489 Commercial bonds 2,000 7 — 2,007 Mortgage-backed securities: GNMA 27,535 670 (122 ) 28,083 FNMA 50,617 694 (536 ) 50,775 FHLMC 3,276 38 — 3,314 SLMA CMO 9,895 — (252 ) 9,643 AGENCY CMO 28,024 176 (205 ) 27,995 $ 297,848 7,762 (1,982 ) 303,628 |
Maturities of Debt Securities Available for Sale | The scheduled maturities of debt securities available for sale at September 30, 2015, were as follows: Estimated Amortized Fair September 30, 2015 Cost Value Due within one year $ 4,830 $ 4,894 Due in one to five years 26,697 27,089 Due in five to ten years 29,401 30,316 Due after ten years 24,604 26,089 85,532 88,388 Amortizing agency bonds 63,654 65,807 Mortgage-backed securities 84,940 85,727 Total unrestricted securities available for sale $ 234,126 $ 239,922 The scheduled maturities of debt securities available for sale at December 31, 2014, were as follows: Estimated Amortized Fair December 31, 2014 Cost Value Due within one year $ 4,830 $ 4,927 Due in one to five years 21,564 21,818 Due in five to ten years 41,683 42,613 Due after ten years 33,119 35,380 101,196 104,738 Amortizing agency bonds 77,305 79,080 Mortgage-backed securities 119,347 119,810 Total unrestricted securities available for sale $ 297,848 $ 303,628 |
Estimated Fair Value and Unrealized Loss Amounts of Impaired Investments | The estimated fair value and unrealized loss amounts of temporarily impaired investments as of September 30, 2015, are as follows: Less than 12 months 12 months or longer Total Estimated Unrealized Estimated Unrealized Estimated Unrealized Fair Value Losses Fair Value Losses Fair Value Losses (Dollars in Thousands) Available for sale U.S. Agency debt securities $ 5,009 (13 ) 9,997 (146 ) 15,006 (159 ) Taxable municipals — — 1,926 (16 ) 1,926 (16 ) Tax free municipals — — 6,308 (96 ) 6,308 (96 ) Mortgage-backed securities: GNMA 4,180 (22 ) 10,694 (67 ) 14,874 (89 ) FNMA 2,267 (12 ) 3,101 (8 ) 5,368 (20 ) FHLMC 2,539 (16 ) — — 2,539 (16 ) SLMA CMOs — — 3,636 (183 ) 3,636 (183 ) AGENCY CMOs 2,422 (27 ) 2,072 (15 ) 4,494 (42 ) Total available for sale $ 16,417 (90 ) 37,734 (531 ) 54,151 (621 ) The estimated fair value and unrealized loss amounts of temporarily impaired investments as of December 31, 2014, were as follows: Less than 12 months 12 months or longer Total Estimated Unrealized Estimated Unrealized Estimated Unrealized Fair Value Losses Fair Value Losses Fair Value Losses Available for sale U.S. Agency debt securities $ 14,021 (20 ) 29,156 (507 ) 43,177 (527 ) Taxable municipals — — 4,785 (63 ) 4,785 (63 ) Tax free municipals — — 6,647 (166 ) 6,647 (166 ) Trust preferred securities — — 1,489 (111 ) 1,489 (111 ) Mortgage-backed securities: GNMA 12,568 (108 ) 2,895 (14 ) 15,463 (122 ) FNMA — — 18,927 (536 ) 18,927 (536 ) SLMA CMOs 1,923 (14 ) 7,720 (238 ) 9,643 (252 ) AGENCY CMOs 9,545 (91 ) 7,685 (114 ) 17,230 (205 ) Total available for sale $ 38,057 (233 ) 79,304 (1,749 ) 117,361 (1,982 ) |
Loans (Tables)
Loans (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Receivables [Abstract] | |
Components of Loans Receivable in Consolidated Balance Sheets | The components of loans receivable in the consolidated balance sheets as of September 30, 2015, and December 31, 2014, were as follows: September 30, 2015 September 30, 2015 December 31, 2014 December 31, 2014 Amount Percent Amount Percent (Dollars in thousands, except percentages) Real estate loans One-to-four family (closed end) first mortgages $ 146,370 25.8 % $ 150,551 27.6 % Second mortgages (closed end) 1,798 0.3 % 2,102 0.4 % Home equity lines of credit 32,976 5.8 % 34,238 6.3 % Multi-family 23,366 4.1 % 25,991 4.8 % Construction 32,669 5.8 % 24,241 4.4 % Land 22,654 4.0 % 26,654 4.9 % Farmland 40,639 7.2 % 42,874 7.8 % Non-residential real estate 157,114 27.7 % 150,596 27.6 % Total mortgage loans 457,586 80.7 % 457,247 83.8 % Consumer loans 18,375 3.2 % 14,438 2.6 % Commercial loans 91,550 16.1 % 74,154 13.6 % Total other loans 109,925 19.3 % 88,592 16.2 % Total loans, gross 567,511 100.0 % 545,839 100.0 % Deferred loan cost, net of fees (510 ) (286 ) Less allowance for loan losses (5,487 ) (6,289 ) Total loans $ 561,514 $ 539,264 |
Non-accrual Loans | The following table indicates the type and level of non-accrual loans at the periods indicated below: September 30, 2015 December 31, 2014 September 30, 2014 (Dollars in Thousands) One-to-four family mortgages $ 1,427 1,501 407 Home equity line of credit 48 — 31 Multi-family 1,968 95 — Land 1,680 215 301 Non-residential real estate 672 1,159 101 Farmland 168 115 12 Consumer loans — — 2 Commercial loans 1,195 90 263 Total non-accrual loans $ 7,158 3,175 1,117 |
Allowance for Loan Loss Account by Loan | The following table provides a detail of the Company’s activity in the allowance for loan loss account by loan type for the nine month period ended September 30, 2015: General Specific Ending Balance Charge off Recovery Provision Provision Balance 12/31/2014 2015 2015 2015 2015 9/30/2015 One-to-four family mortgages $ 1,198 (143 ) 30 90 (215 ) 960 Home equity line of credit 181 (92 ) 6 86 — 181 Junior liens 14 — 4 (4 ) (6 ) 8 Multi-family 85 — — — (11 ) 74 Construction 146 — — — 51 197 Land 1,123 (911 ) — 514 958 1,684 Non-residential real estate 2,083 (222 ) 2 (375 ) (287 ) 1,201 Farmland 461 — — — (124 ) 337 Consumer loans 494 (224 ) 94 120 (134 ) 350 Commercial loans 504 (152 ) 46 163 (66 ) 495 $ 6,289 (1,744 ) 182 594 166 5,487 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, 2014: General Specific Ending Balance Charge off Recovery Provision Provision Balance 12/31/2013 2014 2014 2014 2014 12/31/2014 One-to-four family mortgages $ 2,048 (233 ) 24 (304 ) (337 ) 1,198 Home equity line of credit 218 (83 ) 3 (37 ) 80 181 Junior liens 39 — 9 (25 ) (9 ) 14 Multi-family 466 — — (381 ) — 85 Construction 88 (139 ) 9 58 130 146 Land 1,305 — — (74 ) (108 ) 1,123 Non-residential real estate 2,719 (66 ) 864 (1,368 ) (66 ) 2,083 Farmland 510 — — 542 (591 ) 461 Consumer loans 541 (415 ) 109 (13 ) 272 494 Commercial loans 748 (296 ) 94 (244 ) 202 504 $ 8,682 (1,232 ) 1,112 (1,846 ) (427 ) 6,289 |
Loan Balances by Loan Classification Allocated Between Past Due Performing and Non-performing | The table below presents loan balances at September 30, 2015, by loan classification allocated between past due, performing and non-performing: Impaired Loan Currently 30 – 89 Days 90 Days + Non- Special Substandard Doubtful Total (Dollars in Thousands) One-to-four family mortgages $ 142,796 325 — 1,427 330 1,492 — 146,370 Home equity line of credit 32,703 — — 48 — 225 — 32,976 Junior liens 1,746 — — — 36 16 — 1,798 Multi-family 20,272 — — 1,968 — 1,126 — 23,366 Construction 32,669 — — — — — — 32,669 Land 11,604 — 1,486 1,680 43 7,841 — 22,654 Non-residential real estate 147,938 — — 672 4,158 4,346 — 157,114 Farmland 40,309 — — 168 — 162 — 40,639 Consumer loans 18,142 29 — — — 204 — 18,375 Commercial loans 88,384 701 — 1,195 357 913 — 91,550 Total $ 536,563 1,055 1,486 7,158 4,924 16,325 — 567,511 The table below presents loan balances December 31, 2014, by loan classification allocated past due, performing and non-performing: 30 - 89 Impaired Loans Currently Days Non-accrual Special Currently Performing Performing Past Due Loans Mention Substandard Doubtful Total One-to-four family mortgages $ 145,372 757 1,501 203 2,718 — 150,551 Home equity line of credit 33,338 143 — — 757 — 34,238 Junior liens 2,025 — — 40 37 — 2,102 Multi-family 20,066 — 95 2,904 2,926 — 25,991 Construction 24,241 — — — — — 24,241 Land 14,674 654 215 362 10,749 — 26,654 Non-residential real estate 131,854 — 1,159 5,492 12,091 — 150,596 Farmland 40,057 64 115 516 2,122 — 42,874 Consumer loans 14,104 14 — 21 299 — 14,438 Commercial loans 71,191 55 90 325 2,493 — 74,154 Total $ 496,922 1,687 3,175 9,863 34,192 — 545,839 |
Allowance for Loan Losses and Recorded Investment in Loans by Portfolio Segment and Impairment Method | The following table presents the balance in the allowance for loan losses and the recorded investment in loans as of September 30, 2015, and December 31, 2014, by portfolio segment and based on the impairment method as of September 30, 2015, and December 31, 2014. Land Development / Commercial Residential Commercial Construction Real Estate Real Estate Consumer Total September 30, 2015: Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ 56 266 143 29 51 $ 545 Collectively evaluated for impairment 439 1,615 1,469 1,120 299 4,942 Total ending allowance balance $ 495 1,881 1,612 1,149 350 $ 5,487 Loans: Loans individually evaluated for impairment $ 2,108 9,521 8,442 3,208 204 $ 23,483 Loans collectively evaluated for impairment 89,442 45,802 212,677 177,936 18,171 544,028 Total ending loans balance $ 91,550 55,323 221,119 181,144 18,375 $ 567,511 Land Development / Commercial Residential Commercial Construction Real Estate Real Estate Consumer Total December 31, 2014: Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ — 663 738 51 62 $ 1,514 Collectively evaluated for impairment 504 606 1,891 1,342 432 4,775 Total ending allowance balance $ 504 1,269 2,629 1,393 494 $ 6,289 Loans: Loans individually evaluated for impairment $ 2,583 10,964 18,508 5,013 299 $ 37,367 Loans collectively evaluated for impairment 71,571 39,931 200,953 181,878 14,139 508,472 Total ending loans balance $ 74,154 50,895 219,461 186,891 14,438 $ 545,839 |
Loans by Classification Type and Related Allowance Amounts | At September 30, 2015, December 31, 2014 and September 30, 2014, the Company’s specific reserve for impaired loans totaled $545,000, $1.5 million and $2.9 million respectively. Loans by classification type and the related allowance amounts at September 30, 2015, are as follows: Specific Allowance Allowance for September 30, 2015 Special Impaired Loans for Performing Pass Mention Substandard Doubful Total Impairment Loans (Dollars in Thousands) One-to-four family mortgages $ 143,121 330 2,919 — 146,370 29 931 Home equity line of credit 32,703 — 273 — 32,976 — 181 Junior liens 1,746 36 16 — 1,798 — 8 Multi-family 20,272 — 3,094 — 23,366 — 74 Construction 32,669 — — — 32,669 — 197 Land 11,604 1,529 9,521 — 22,654 266 1,417 Non-residential real estate 147,938 4,158 5,018 — 157,114 143 1,058 Farmland 40,309 — 330 — 40,639 — 337 Consumer loans 18,171 — 204 — 18,375 51 300 Commercial loans 89,085 357 2,108 — 91,550 56 439 Total $ 537,618 6,410 23,483 — 567,511 545 4,942 Loans by classification type and the related allowance amounts at December 31, 2014, are as follows: Special Impaired Loans Specific Allowance For Performing Pass Mention Substandard Doubtful Total Impairment Loans December 31, 2014 One-to-four family mortgages $ 146,129 203 4,219 — 150,551 51 1,147 Home equity line of credit 33,481 — 757 — 34,238 — 181 Junior lien 2,025 40 37 — 2,102 — 14 Multi-family 20,066 2,904 3,021 — 25,991 — 85 Construction 24,241 — — — 24,241 — 146 Land 15,328 362 10,964 — 26,654 663 460 Non-residential real estate 131,854 5,492 13,250 — 150,596 738 1,345 Farmland 40,121 516 2,237 — 42,874 — 461 Consumer loans 14,118 21 299 — 14,438 62 432 Commercial loans 71,246 325 2,583 — 74,154 — 504 Total $ 498,609 9,863 37,367 — 545,839 1,514 4,775 |
Impaired Loans by Classification Type | Impaired loans by classification type and the related valuation allowance amounts at September 30, 2015, were as follows: For the nine month period ended At September 30, 2015 September 30, 2015 Unpaid Average Interest Impaired loans with no specific allowance Recorded Principal Related Recorded Income Investment Balance Allowance Investment Recognized One-to-four family mortgages $ 2,212 2,212 — 2,343 55 Home equity line of credit 273 273 — 553 9 Junior liens 16 16 — 17 1 Multi-family 3,094 3,094 — 3,019 126 Construction — — — — — Land 7,290 7,290 — 8,014 350 Farmland 330 330 — 268 35 Non-residential real estate 4,297 4,297 — 7,819 253 Consumer loans — — — 3 — Commercial loans 1,908 1,908 — 1,707 72 Total 19,420 19,420 — 23,743 901 Impaired loans with a specific allowance: One-to-four family mortgages 707 707 29 710 30 Home equity line of credit — — — — — Junior liens — — — — — Multi-family — — — — — Construction — — — — — Land 2,231 3,248 266 2,083 72 Farmland — — — — — Non-residential real estate 721 721 143 875 20 Consumer loans 204 204 51 191 — Commercial loans 200 200 56 419 7 Total 4,063 5,080 545 4,278 129 Total impaired loans $ 23,483 24,500 545 28,021 1,030 Impaired loans by classification type and the related valuation allowance amounts at December 31, 2014, were as follows: At December 31, 2014 For the year ended Impaired loans with no specific allowance Recorded Unpaid Related Average Interest One-to-four family mortgages $ 3,501 3,501 — 2,972 176 Home equity line of credit 757 757 — 690 35 Junior liens 37 37 — 39 2 Multi-family 3,021 3,021 — 1,342 190 Construction — — — 29 — Land 7,740 7,740 — 8,978 339 Non-residential real estate 12,057 12,057 — 8,672 669 Farmland 2,237 2,237 3,968 125 Consumer loans 51 51 — 36 3 Commercial loans 2,583 2,583 — 2,246 154 Total 31,984 31,984 — 28,972 1,693 Impaired loans with a specific allowance One-to-four family mortgages $ 718 718 51 1,434 44 Home equity line of credit — — — — — Junior liens — — — — — Multi-family — — — — — Construction — — — — — Land 3,224 4,737 663 3,418 160 Non-residential real estate 1,193 1,258 738 3,617 69 Farmland — — — 619 — Consumer loans 248 248 62 355 — Commercial loans — — — 100 — Total 5,383 6,961 1,514 9,543 273 Total impaired loans $ 37,367 38,945 1,514 38,515 1,966 |
Summary of the Activity in Loans Classified as TDRs | A summary of the activity in loans classified as TDRs for the nine month period ended September 30, 2015, is as follows: Balance at New Loss or Loan Removed (Taken to) Balance at December 31, 2014 TDR Foreclosure Amortization Non-accrual September 30, 2015 (Dollars in Thousands) Non-residential real estate $ 3,284 2,149 — (1 ) — 5,432 Total performing TDR $ 3,284 2,149 — (1 ) — 5,432 A summary of the activity in loans classified as TDRs for the twelve month period ended December 31, 2014, is as follows Balance at New Loss or Transferred to Removed (Taken to) Balance at December 31, 2013 TDR Foreclosure Held For Sale Non-accrual December 31, 2014 (Dollars in Thousands) Non-residential real estate $ — 10,271 — (6,987 ) — 3,284 Total performing TDR $ — 10,271 — (6,987 ) — 3,284 |
Real Estate and Other Assets 30
Real Estate and Other Assets Owned (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Text Block [Abstract] | |
Presentation of Balances in Other Real Estate and Other Assets Owned and Non-Accrual Loans Consisting Other Non-Performing Loan | At September 30, 2015, December 31, 2014, and September 30, 2014, the composition of the Company’s balance of non-accrual loans, real estate owned and other assets owned are as follows: September 30, 2015 December 31, 2014 September 30, 2014 (Dollars in Thousands) One-to-four family mortgages $ 55 159 120 Land 943 1,768 1,834 Non-residential real estate 738 — — Total other assets owned $ 1,736 1,927 1,954 Total non-accrual loans $ 7,158 3,175 1,117 Past due 90 days still accruing 1,486 — — Total non-performing assets $ 10,380 5,102 3,071 Non-performing assets / Total assets 1.18 % 0.55 % 0.33 % |
Summary of Activity in Company's Real Estate and Other Assets Owned | The following is a summary of the activity in the Company’s real estate and other assets owned for the nine month period ending September 30, 2015: Activity During 2015 Balance Reduction Gain (Loss) Balance December 31, 2014 Foreclosures Proceeds in Values on Sale September 30, 2015 (Dollars in Thousands) One-to-four family mortgages $ 159 105 (194 ) — (15 ) 55 Land 1,768 — (124 ) — (701 ) 943 Non-residential real estate — 738 — — — 738 Total $ 1,927 843 (318 ) — (716 ) 1,736 The following is a summary of the activity in the Company’s real estate and other assets owned for the year ended December 31, 2014: Activity During 2014 Balance Reduction Gain (Loss) Balance December 31, 2013 Foreclosures Sales in Values on Sale December 31, 2014 (Dollars in Thousands) One-to-four family mortgages $ 350 461 (667 ) (5 ) 20 159 Land 1,124 943 (123 ) (157 ) (19 ) 1,768 Non-residential real estate 200 175 (328 ) — (47 ) — Total $ 1,674 1,579 (1,118 ) (162 ) (46 ) 1,927 |
Investments in Affiliated Com31
Investments in Affiliated Companies (Tables) - Equity Method Investments [Member] | 9 Months Ended |
Sep. 30, 2015 | |
Summary Statements of Financial Condition | Summary Statements of Financial Condition September 30, 2015 December 31, 2014 Assets - investment in subordinated debentures issued by HopFed Bancorp, Inc. $ 10,310 10,310 Liabilities — — Stockholder’s equity – trust preferred securities 10,000 10,000 Common stock (100% Owned by HopFed Bancorp, Inc.) 310 310 Total stockholders’ equity $ 10,310 10,310 |
Summary Statement of Income | Summary Statement of Income Three Month Periods Nine Month Period Ended September 30, Ended September 30, 2015 2014 2015 2014 Income – interest income from subordinated debenturesissued by HopFed Bancorp, Inc. $ 87 88 $ 264 261 Net income $ 87 88 $ 264 261 |
Summary Statement of Stockholders' Equity | Summary Statement of Stockholders’ Equity (For the nine month period ended September 30, 2015) Trust Common Retained Total Beginning balances, December 31, 2014 $ 10,000 310 — 10,310 Net income — — 264 264 Dividends: Trust preferred securities — — (256 ) (256 ) Common paid to HopFed Bancorp, Inc. — — (8 ) (8 ) Ending balances, September 30, 2015 $ 10,000 310 — 10,310 |
Fair Value of Assets and Liab32
Fair Value of Assets and Liabilities (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Fair Value Disclosures [Abstract] | |
Assets and Liabilities Measured at Fair Value on a Recurring Basis | Assets and Liabilities Measured on a Recurring Basis The assets and liabilities measured at fair value on a recurring basis at September 30, 2015, are summarized below: Total carrying Quoted Prices Significant September 30, 2015 value in the In Active Other Significant consolidated Markets for Observable Unobservable balance sheet at Identical Assets Inputs Inputs Description September 30, 2015 (Level 1) (Level 2) (Level 3) Assets Available for sale securities $ 239,922 2,010 236,122 1,790 Liabilities Interest rate swap $ 99 — 99 — The assets and liabilities measured at fair value on a recurring basis at December 31, 2014, are summarized below Total carrying Quoted Prices Significant value in the In Active Other Significant December 31, 2014 consolidated Markets for Observable Unobservable balance sheet at Identical Assets Inputs Inputs Description December 31, 2014 (Level 1) (Level 2) (Level 3) Assets Available for sale securities $ 303,628 3,980 298,159 1,489 Liabilities Interest rate swap $ 390 — 390 — |
Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis | The assets and liabilities measured at fair value on a non-recurring basis are summarized below for September 30, 2015: Total carrying Quoted Prices Significant value in the In Active Other Significant September 30, 2015 consolidated Markets for Observable Unobservable balance sheet at Identical Assets Inputs Inputs Description 9/30/2015 (Level 1) (Level 2) (Level 3) (Dollars in Thousands) Assets Other real estate and other assets owned $ 1,736 — — $ 1,736 Impaired loans, net of reserve of $545 $ 3,518 — — $ 3,518 The assets and liabilities measured at fair value on a non-recurring basis are summarized below for December 31, 2014: Total carrying Quoted Prices Significant value in the In Active Other Significant December 31, 2014 consolidated Markets for Observable Unobservable balance sheet at Identical Assets Inputs Inputs Description 12/31/2014 (Level 1) (Level 2) (Level 3) Assets Other real estate and other assets owned $ 1,927 — — $ 1,927 Impaired loans, net of reserve of $1,514 $ 3,869 — — $ 3,869 |
Roll-Forward of the Consolidated Condensed Statement of Financial Condition Items | The table below includes a roll-forward of the consolidated condensed statement of financial condition items for the nine month periods ended September 30, 2015, and September 30, 2014, (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. 2015 2014 Nine month period ended September 30, Other Assets Other Liabilities Other Assets Other Liabilities (Dollars in Fair value, January 1, $ 1,489 — 1,489 — Change in unrealized losses included in other comprehensive income for assets and liabilities still held at September 30, 289 — — — Accretion of previous discounted amounts 12 — — — Purchases, issuances and settlements, net — — — — Transfers in and/or out of Level 3 — — — — Fair value, September 30, $ 1,790 — 1,489 — |
Estimated Fair Values of Financial Instruments | The estimated fair values of financial instruments were as follows at September 30, 2015: Using Quoted Prices Significant In Active Markets Other Significant Estimated for Identical Observable Unobservable Carrying Fair Assets Inputs Inputs Amount Value Level 1 Level 2 Level 3 Financial Assets: Cash and due from banks $ 18,110 18,110 18,110 — — Interest-earning deposits 5,647 5,647 5,647 — — Securities available for sale 239,922 239,922 2,010 236,122 1,790 Federal Home Loan Bank stock 4,428 4,428 — 4,428 — Loans held for sale 5,298 5,298 — 5,298 — Loans receivable 561,514 562,862 — — 562,862 Accrued interest receivable 4,119 4,119 — 4,119 — Financial liabilities: Deposits 706,198 689,565 — 689,565 — Advances from borrowers for taxes and insurance 1,077 1,077 — 1,077 — Advances from Federal Home Loan Bank 25,000 24,979 — 24,979 — Repurchase agreements 46,300 46,516 — 46,516 — Subordinated debentures 10,310 10,099 — — 10,099 Off-balance-sheet liabilities: Market value of interest rate swap 99 99 — 99 — The estimated fair values of financial instruments were as follows at December 31, 2014: Using Quoted Prices Significant In Active Markets Other Significant Estimated for Identical Observable Unobservable Carrying Fair Assets Inputs Inputs Amount Value Level 1 Level 2 Level 3 Financial Assets: Cash and due from banks $ 34,389 34,389 34,389 — — Interest-earning deposits 6,050 6,050 6,050 — — Securities available for sale 303,628 303,628 3,980 298,159 1,489 Federal Home Loan Bank stock 4,428 4,428 — 4,428 — Loans held for sale 1,444 1,444 — 1,444 — Loans receivable 539,264 537,493 — — 537,493 Accrued interest receivable 4,576 4,576 — 4,576 — Financial liabilities: Deposits 731,308 714,750 — 714,750 — Advances from borrowers for taxes and insurance 513 513 — 513 — Advances from Federal Home Loan Bank 34,000 34,217 — 34,217 — Repurchase agreements 57,358 57,688 — 57,688 — Subordinated debentures 10,310 10,099 — — 10,099 Off-balance-sheet liabilities: Market value of interest rate swap 390 390 — 390 — |
Other Assets (Tables)
Other Assets (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | |
Schedule of Investments Recognized in Net Income | The amounts recognized in net income for these investments for the three and nine month periods below include: For the three months For the nine months ended September 30, ended September 30, 2015 2014 2015 2014 Investment loss included in pre-tax income $ 55 51 $ 165 153 Tax credits recognized in provision for income taxes $ 24 20 $ 72 60 |
Esop Plan (Tables)
Esop Plan (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Text Block [Abstract] | |
Summary of Shares Held by Employee Stock Ownership Plan (ESOP) | At September 30, 2015, shares held by the ESOP were as follows: Accrued to allocate to Participants 37,063 Unearned ESOP shares 562,937 Total ESOP shares 600,000 Fair value of unearned shares $ 6,727,097 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Summary of Off-balance Sheet Commitments | At September 30, 2015, the Company had the following off-balance sheet commitments (in thousands): Standby letters of credit $ 47 Unused home equity lines of credit $ 30,034 Unused commercial lines of credit $ 51,767 Unused unsecured personal lines of credit $ 27,458 Unfunded commitments on commercial loans $ 19,726 |
Regulatory Matters (Tables)
Regulatory Matters (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Banking and Thrift [Abstract] | |
Schedule of Company's and Bank's Capital Compliance | The table below presents certain information relating to the Company’s and Bank’s capital compliance at September 30, 2015: Company Bank Amount Percent Amount Percent (Dollars in Thousands) Common equity tier 1 ratio $ 95,063 16.34 % $ 92,557 15.90 % Tier 1 leverage ratio $ 95,063 10.92 % $ 92,557 10.67 % Tier 1 risk-based capital ratio $ 95,063 16.34 % $ 92,557 15.90 % Total risk based capital ratio $ 100,550 17.20 % $ 98,044 16.84 % |
Income (Loss) Per Share - Addit
Income (Loss) Per Share - Additional Information (Detail) - shares | Sep. 30, 2015 | Dec. 31, 2014 |
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | ||
Unearned ESOP shares | 562,937 | 0 |
Two Thousand Fifteen Employee Stock Ownership Plan [Member] | ||
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | ||
ESOP shares committed to release | 37,063 | |
Unearned ESOP shares | 562,937 |
Income (Loss) Per Share - Recon
Income (Loss) Per Share - Reconciliation of Basic and Diluted Income (Loss) Per Share (Detail) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Basic IPS: | ||||
Net income | $ 510,000 | $ 1,953,000 | $ 1,748,000 | $ 3,232,000 |
Average common shares outstanding | 6,359,556 | 7,265,597 | 6,493,449 | 7,348,708 |
Net income per share | $ 0.08 | $ 0.27 | $ 0.27 | $ 0.44 |
Diluted IPS: | ||||
Net income | $ 510,000 | $ 1,953,000 | $ 1,748,000 | $ 3,232,000 |
Average common shares outstanding | 6,359,556 | 7,265,597 | 6,493,449 | 7,348,708 |
Dilutive effect of stock options | 0 | 0 | 0 | 0 |
Average diluted shares outstanding | 6,359,556 | 7,265,597 | 6,493,449 | 7,348,708 |
Net income per share, diluted | $ 0.08 | $ 0.27 | $ 0.27 | $ 0.44 |
Stock Compensation - Additional
Stock Compensation - Additional Information (Detail) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
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 | $ 46,000 | $ 49,000 | $ 144,000 | $ 114,000 |
Restricted Stock [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Shares of restricted stock issued | 1,263 | 2,140 | 2,034 | 22,378 |
Stock Compensation - Company's
Stock Compensation - Company's Future Compensation Expense Related to Restricted Stock Vesting (Detail) | Sep. 30, 2015USD ($) |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
2,015 | $ 45,857 |
2,016 | 139,040 |
2,017 | 52,215 |
2,018 | 9,387 |
2,019 | 2,604 |
Total | $ 249,103 |
Securities - Additional Informa
Securities - Additional Information (Detail) $ in Millions | 9 Months Ended | |
Sep. 30, 2015USD ($)Securities | Dec. 31, 2014 | |
Schedule of Available-for-sale Securities [Line Items] | ||
Number of securities with unrealized losses | Securities | 42 | |
Securities pledged to municipalities for deposits in excess of FDIC limits, book value | $ 124.8 | |
Securities pledged to municipalities for deposits in excess of FDIC limits, market value | 129.6 | |
Securities with market value sold under agreements to repurchase from various customers | 40.3 | |
Wholesale repurchase agreements with combined book value | 6.7 | |
Wholesale repurchase agreements with combined market value | 6.9 | |
Investment repurchase agreement, amount | $ 6 | |
Repurchase agreement, maturity date | Sep. 18, 2016 | |
Repurchase agreement, interest rate | 4.36% | |
Securities with book value sold under agreements to repurchase from various customers | $ 39.7 | |
Temporarily Impaired Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Number of securities with unrealized losses other than temporarily impaired | 0 | 0 |
Securities - Amortized Cost of
Securities - Amortized Cost of Securities and their Estimated Fair Values (Detail) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Schedule of Available-for-sale Securities [Line Items] | ||
FHLB stock | $ 4,428 | $ 4,428 |
Amortized Cost | 234,126 | 297,848 |
Gross Unrealized Gains | 6,417 | 7,762 |
Gross Unrealized Losses | (621) | (1,982) |
Estimated Fair Value | 239,922 | 303,628 |
Estimated Fair Value, Less than 12 months | 16,417 | 38,057 |
Unrealized Losses, Less than 12 months | (90) | (233) |
Estimated Fair Value, 12 months or longer | 37,734 | 79,304 |
Unrealized Losses, 12 months or longer | (531) | (1,749) |
Estimated Fair Value | 54,151 | 117,361 |
Unrealized Losses | (621) | (1,982) |
Restricted [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
FHLB stock | 0 | 4,428 |
FHLB stock | 0 | 4,428 |
U.S. Treasury Securities [Member] | Available for Sale Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 2,001 | 3,977 |
Gross Unrealized Gains | 9 | 3 |
Estimated Fair Value | 2,010 | 3,980 |
Agency Debt Securities [Member] | Available for Sale Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 91,190 | 101,654 |
Gross Unrealized Gains | 2,352 | 2,125 |
Gross Unrealized Losses | (159) | (527) |
Estimated Fair Value | 93,383 | 103,252 |
Agency Debt Securities [Member] | U.S. Agency Securities [Member] | Temporarily Impaired Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Estimated Fair Value, Less than 12 months | 5,009 | 14,021 |
Unrealized Losses, Less than 12 months | (13) | (20) |
Estimated Fair Value, 12 months or longer | 9,997 | 29,156 |
Unrealized Losses, 12 months or longer | (146) | (507) |
Estimated Fair Value | 15,006 | 43,177 |
Unrealized Losses | (159) | (527) |
Taxable Municipals Bonds [Member] | Available for Sale Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 7,173 | 11,871 |
Gross Unrealized Gains | 217 | 235 |
Gross Unrealized Losses | (16) | (63) |
Estimated Fair Value | 7,374 | 12,043 |
Taxable Municipals Bonds [Member] | U.S. Agency Securities [Member] | Temporarily Impaired Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Estimated Fair Value, 12 months or longer | 1,926 | 4,785 |
Unrealized Losses, 12 months or longer | (16) | (63) |
Estimated Fair Value | 1,926 | 4,785 |
Unrealized Losses | (16) | (63) |
Tax Free Municipals Bonds [Member] | Available for Sale Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 47,209 | 57,399 |
Gross Unrealized Gains | 2,525 | 3,814 |
Gross Unrealized Losses | (96) | (166) |
Estimated Fair Value | 49,638 | 61,047 |
Tax Free Municipals Bonds [Member] | U.S. Agency Securities [Member] | Temporarily Impaired Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Estimated Fair Value, 12 months or longer | 6,308 | 6,647 |
Unrealized Losses, 12 months or longer | (96) | (166) |
Estimated Fair Value | 6,308 | 6,647 |
Unrealized Losses | (96) | (166) |
Trust Preferred Securities [Member] | Available for Sale Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 1,613 | 1,600 |
Gross Unrealized Gains | 177 | |
Gross Unrealized Losses | (111) | |
Estimated Fair Value | 1,790 | 1,489 |
Trust Preferred Securities [Member] | U.S. Agency Securities [Member] | Temporarily Impaired Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Estimated Fair Value, 12 months or longer | 1,489 | |
Unrealized Losses, 12 months or longer | (111) | |
Estimated Fair Value | 1,489 | |
Unrealized Losses | (111) | |
GNMA [Member] | Mortgage-Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 20,214 | 27,535 |
Gross Unrealized Gains | 249 | 670 |
Gross Unrealized Losses | (89) | (122) |
Estimated Fair Value | 20,374 | 28,083 |
GNMA [Member] | Mortgage-Backed Securities [Member] | Temporarily Impaired Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Estimated Fair Value, Less than 12 months | 4,180 | 12,568 |
Unrealized Losses, Less than 12 months | (22) | (108) |
Estimated Fair Value, 12 months or longer | 10,694 | 2,895 |
Unrealized Losses, 12 months or longer | (67) | (14) |
Estimated Fair Value | 14,874 | 15,463 |
Unrealized Losses | (89) | (122) |
FNMA [Member] | Mortgage-Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 31,596 | 50,617 |
Gross Unrealized Gains | 583 | 694 |
Gross Unrealized Losses | (20) | (536) |
Estimated Fair Value | 32,159 | 50,775 |
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 | 2,267 | |
Unrealized Losses, Less than 12 months | (12) | |
Estimated Fair Value, 12 months or longer | 3,101 | 18,927 |
Unrealized Losses, 12 months or longer | (8) | (536) |
Estimated Fair Value | 5,368 | 18,927 |
Unrealized Losses | (20) | (536) |
FHLMC [Member] | Mortgage-Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 5,353 | 3,276 |
Gross Unrealized Gains | 46 | 38 |
Gross Unrealized Losses | (16) | |
Estimated Fair Value | 5,383 | 3,314 |
FHLMC [Member] | Mortgage-Backed Securities [Member] | Temporarily Impaired Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Estimated Fair Value, Less than 12 months | 2,539 | |
Unrealized Losses, Less than 12 months | (16) | |
Estimated Fair Value | 2,539 | |
Unrealized Losses | (16) | |
SLMA CMO [Member] | Mortgage-Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 3,819 | 9,895 |
Gross Unrealized Losses | (183) | (252) |
Estimated Fair Value | 3,636 | 9,643 |
SLMA CMO [Member] | Mortgage-Backed Securities [Member] | Temporarily Impaired Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Estimated Fair Value, Less than 12 months | 1,923 | |
Unrealized Losses, Less than 12 months | (14) | |
Estimated Fair Value, 12 months or longer | 3,636 | 7,720 |
Unrealized Losses, 12 months or longer | (183) | (238) |
Estimated Fair Value | 3,636 | 9,643 |
Unrealized Losses | (183) | (252) |
Agency CMO [Member] | Mortgage-Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 23,958 | 28,024 |
Gross Unrealized Gains | 259 | 176 |
Gross Unrealized Losses | (42) | (205) |
Estimated Fair Value | 24,175 | 27,995 |
Agency CMO [Member] | Mortgage-Backed Securities [Member] | Temporarily Impaired Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Estimated Fair Value, Less than 12 months | 2,422 | 9,545 |
Unrealized Losses, Less than 12 months | (27) | (91) |
Estimated Fair Value, 12 months or longer | 2,072 | 7,685 |
Unrealized Losses, 12 months or longer | (15) | (114) |
Estimated Fair Value | 4,494 | 17,230 |
Unrealized Losses | $ (42) | (205) |
Commercial Bonds [Member] | Available for Sale Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 2,000 | |
Gross Unrealized Gains | 7 | |
Estimated Fair Value | $ 2,007 |
Securities - Maturities of Debt
Securities - Maturities of Debt Securities Available for Sale (Detail) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized cost of debt securities available for sale, due within one year | $ 4,830 | $ 4,830 |
Amortized cost of debt securities available for sale, due in one to five years | 26,697 | 21,564 |
Amortized cost of debt securities available for sale, due in five to ten years | 29,401 | 41,683 |
Amortized cost of debt securities available for sale, due after ten years | 24,604 | 33,119 |
Total amortized cost debt securities available for sale with specific maturities | 85,532 | 101,196 |
Amortized Cost | 234,126 | 297,848 |
Estimated fair value of debt securities available for sale, due within one year | 4,894 | 4,927 |
Estimated fair value of debt securities available for sale, due in one to five years | 27,089 | 21,818 |
Estimated fair value of debt securities available for sale, due in five to ten years | 30,316 | 42,613 |
Estimated fair value of debt securities available for sale, due after ten years | 26,089 | 35,380 |
Total estimated fair value of debt securities available for sale with specific maturities | 88,388 | 104,738 |
Total unrestricted securities available for sale at estimated fair value | 239,922 | 303,628 |
Mortgage-Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total amortized cost of debt securities available for sale without specific maturities | 84,940 | 119,347 |
Total estimated fair value of debt securities available for sale without specific maturities | 85,727 | 119,810 |
Amortizing Agency Bonds [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total amortized cost of debt securities available for sale without specific maturities | 63,654 | 77,305 |
Total estimated fair value of debt securities available for sale without specific maturities | $ 65,807 | $ 79,080 |
Loans - Components of Loans Rec
Loans - Components of Loans Receivable in Consolidated Balance Sheets (Detail) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 | Sep. 30, 2014 |
Real estate loans | |||
Total loans, gross | $ 567,511 | $ 545,839 | |
Deferred loan cost, net of fees | (510) | (286) | |
Less allowance for loan losses | (5,487) | (6,289) | $ (8,100) |
Total loans | $ 561,514 | $ 539,264 | |
Loans and Leases Receivable in Percentage | 100.00% | 100.00% | |
Real Estate Loans [Member] | |||
Real estate loans | |||
Total loans, gross | $ 457,586 | $ 457,247 | |
Loans and Leases Receivable in Percentage | 80.70% | 83.80% | |
Consumer Loans [Member] | |||
Real estate loans | |||
Total loans, gross | $ 18,375 | $ 14,438 | |
Less allowance for loan losses | $ (350) | $ (494) | |
Loans and Leases Receivable in Percentage | 3.20% | 2.60% | |
Commercial Loans [Member] | |||
Real estate loans | |||
Total loans, gross | $ 91,550 | $ 74,154 | |
Less allowance for loan losses | $ (495) | $ (504) | |
Loans and Leases Receivable in Percentage | 16.10% | 13.60% | |
Total Other Loans [Member] | |||
Real estate loans | |||
Total loans, gross | $ 109,925 | $ 88,592 | |
Loans and Leases Receivable in Percentage | 19.30% | 16.20% | |
One-to-Four Family Mortgages [Member] | |||
Real estate loans | |||
Total loans, gross | $ 146,370 | $ 150,551 | |
One-to-Four Family Mortgages [Member] | Real Estate Loans [Member] | |||
Real estate loans | |||
Total loans, gross | $ 146,370 | $ 150,551 | |
Loans and Leases Receivable in Percentage | 25.80% | 27.60% | |
Second Mortgages (Closed End) [Member] | Real Estate Loans [Member] | |||
Real estate loans | |||
Total loans, gross | $ 1,798 | $ 2,102 | |
Loans and Leases Receivable in Percentage | 0.30% | 0.40% | |
Home Equity Line of Credit [Member] | |||
Real estate loans | |||
Total loans, gross | $ 32,976 | $ 34,238 | |
Home Equity Line of Credit [Member] | Real Estate Loans [Member] | |||
Real estate loans | |||
Total loans, gross | $ 32,976 | $ 34,238 | |
Loans and Leases Receivable in Percentage | 5.80% | 6.30% | |
Multi-Family [Member] | |||
Real estate loans | |||
Total loans, gross | $ 23,366 | $ 25,991 | |
Multi-Family [Member] | Real Estate Loans [Member] | |||
Real estate loans | |||
Total loans, gross | $ 23,366 | $ 25,991 | |
Loans and Leases Receivable in Percentage | 4.10% | 4.80% | |
Construction [Member] | |||
Real estate loans | |||
Total loans, gross | $ 32,669 | $ 24,241 | |
Construction [Member] | Real Estate Loans [Member] | |||
Real estate loans | |||
Total loans, gross | $ 32,669 | $ 24,241 | |
Loans and Leases Receivable in Percentage | 5.80% | 4.40% | |
Land [Member] | |||
Real estate loans | |||
Total loans, gross | $ 22,654 | $ 26,654 | |
Land [Member] | Real Estate Loans [Member] | |||
Real estate loans | |||
Total loans, gross | $ 22,654 | $ 26,654 | |
Loans and Leases Receivable in Percentage | 4.00% | 4.90% | |
Farmland [Member] | |||
Real estate loans | |||
Total loans, gross | $ 40,639 | $ 42,874 | |
Farmland [Member] | Real Estate Loans [Member] | |||
Real estate loans | |||
Total loans, gross | $ 40,639 | $ 42,874 | |
Loans and Leases Receivable in Percentage | 7.20% | 7.80% | |
Non-Residential Real Estate [Member] | |||
Real estate loans | |||
Total loans, gross | $ 157,114 | $ 150,596 | |
Non-Residential Real Estate [Member] | Real Estate Loans [Member] | |||
Real estate loans | |||
Total loans, gross | $ 157,114 | $ 150,596 | |
Loans and Leases Receivable in Percentage | 27.70% | 27.60% |
Loans - Additional Information
Loans - Additional Information (Detail) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2015USD ($)SecurityLoan | Sep. 30, 2015USD ($)SecurityLoan | Sep. 30, 2014USD ($) | Dec. 31, 2014USD ($) | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Allowance for loan losses | $ 5,487 | $ 5,487 | $ 8,100 | $ 6,289 |
Ratio of the allowance for loan losses to total loans | 0.97% | 1.51% | 1.15% | |
Past due 90 days still accruing | $ 1,486 | $ 1,486 | ||
Company's annualized net charge off (net recovery) ratios | 0.37% | (0.05%) | 0.02% | |
Ratios of allowance for loan losses to non-accrual loans | 76.70% | 76.70% | 728.10% | 198.08% |
Annual reviews of loan to ascertain the borrowers continued ability to service | $ 1,000 | |||
Loans past due period for classify to risk grade | 90 days | |||
Loans past due period for classify to substandard grade | 12 months | |||
Total impaired loans Recorded Investment | $ 23,483 | $ 23,483 | $ 38,400 | $ 37,367 |
Reserve on impaired loans | $ 545 | 545 | $ 2,900 | 1,514 |
Number of additional TDRs | SecurityLoan | 2 | |||
Land [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past due 90 days still accruing | $ 1,486 | $ 1,486 | ||
Number of loan | SecurityLoan | 1 | |||
Reserve on impaired loans | 266 | $ 266 | $ 663 | |
Land [Member] | Real Estate Loans [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Past due 90 days still accruing | $ 1,500 | $ 1,500 |
Loans - Non-Accrual Loans (Deta
Loans - Non-Accrual Loans (Detail) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 | Sep. 30, 2014 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total non-accrual loans | $ 7,158 | $ 3,175 | $ 1,117 |
One-to-Four Family Mortgages [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total non-accrual loans | 1,427 | 1,501 | 407 |
Home Equity Line of Credit [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total non-accrual loans | 48 | 31 | |
Multi-Family [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total non-accrual loans | 1,968 | 95 | |
Land [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total non-accrual loans | 1,680 | 215 | 301 |
Non-Residential Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total non-accrual loans | 672 | 1,159 | 101 |
Farmland [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total non-accrual loans | 168 | 115 | 12 |
Consumer Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total non-accrual loans | 2 | ||
Commercial Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total non-accrual loans | $ 1,195 | $ 90 | $ 263 |
Loans - Allowance for Loan Loss
Loans - Allowance for Loan Loss Account by Loan (Detail) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning balance | $ 6,289 | $ 8,682 | $ 8,682 |
Charge off | (1,744) | (820) | (1,232) |
Recovery | 182 | 1,112 | |
General Provision | 594 | (1,846) | |
Specific Provision | 166 | (427) | |
Ending balance | 5,487 | 6,289 | |
One-to-Four Family Mortgages [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning balance | 1,198 | 2,048 | 2,048 |
Charge off | (143) | (233) | |
Recovery | 30 | 24 | |
General Provision | 90 | (304) | |
Specific Provision | (215) | (337) | |
Ending balance | 960 | 1,198 | |
Home Equity Line of Credit [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning balance | 181 | 218 | 218 |
Charge off | (92) | (83) | |
Recovery | 6 | 3 | |
General Provision | 86 | (37) | |
Specific Provision | 80 | ||
Ending balance | 181 | 181 | |
Junior Liens [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning balance | 14 | 39 | 39 |
Recovery | 4 | 9 | |
General Provision | (4) | (25) | |
Specific Provision | (6) | (9) | |
Ending balance | 8 | 14 | |
Multi-Family [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning balance | 85 | 466 | 466 |
General Provision | (381) | ||
Specific Provision | (11) | ||
Ending balance | 74 | 85 | |
Construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning balance | 146 | 88 | 88 |
Charge off | (139) | ||
Recovery | 9 | ||
General Provision | 58 | ||
Specific Provision | 51 | 130 | |
Ending balance | 197 | 146 | |
Land [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning balance | 1,123 | 1,305 | 1,305 |
Charge off | (911) | ||
General Provision | 514 | (74) | |
Specific Provision | 958 | (108) | |
Ending balance | 1,684 | 1,123 | |
Non-Residential Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning balance | 2,083 | 2,719 | 2,719 |
Charge off | (222) | (66) | |
Recovery | 2 | 864 | |
General Provision | (375) | (1,368) | |
Specific Provision | (287) | (66) | |
Ending balance | 1,201 | 2,083 | |
Farmland [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning balance | 461 | 510 | 510 |
General Provision | 542 | ||
Specific Provision | (124) | (591) | |
Ending balance | 337 | 461 | |
Consumer Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning balance | 494 | 541 | 541 |
Charge off | (224) | (415) | |
Recovery | 94 | 109 | |
General Provision | 120 | (13) | |
Specific Provision | (134) | 272 | |
Ending balance | 350 | 494 | |
Commercial Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning balance | 504 | $ 748 | 748 |
Charge off | (152) | (296) | |
Recovery | 46 | 94 | |
General Provision | 163 | (244) | |
Specific Provision | (66) | 202 | |
Ending balance | $ 495 | $ 504 |
Loans - Loan Balances by Loan C
Loans - Loan Balances by Loan Classification Allocated Between Past Due Performing and Non-performing (Detail) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 | Sep. 30, 2014 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Currently Performing | $ 536,563 | $ 496,922 | |
30-89 Days Past Due | 1,055 | 1,687 | |
90 Days + past due and Accruing | 1,486 | ||
Non-accrual Loans | 7,158 | 3,175 | $ 1,117 |
Special Mention | 4,924 | 9,863 | |
Impaired Loans Currently Performing Substandard | 16,325 | 34,192 | |
Impaired Loans Currently Performing Doubtful | 0 | 0 | |
Total loans, gross | 567,511 | 545,839 | |
One-to-Four Family Mortgages [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Currently Performing | 142,796 | 145,372 | |
30-89 Days Past Due | 325 | 757 | |
Non-accrual Loans | 1,427 | 1,501 | 407 |
Special Mention | 330 | 203 | |
Impaired Loans Currently Performing Substandard | 1,492 | 2,718 | |
Impaired Loans Currently Performing Doubtful | 0 | 0 | |
Total loans, gross | 146,370 | 150,551 | |
Home Equity Line of Credit [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Currently Performing | 32,703 | 33,338 | |
30-89 Days Past Due | 143 | ||
Non-accrual Loans | 48 | 31 | |
Impaired Loans Currently Performing Substandard | 225 | 757 | |
Impaired Loans Currently Performing Doubtful | 0 | 0 | |
Total loans, gross | 32,976 | 34,238 | |
Junior Liens [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Currently Performing | 1,746 | 2,025 | |
Special Mention | 36 | 40 | |
Impaired Loans Currently Performing Substandard | 16 | 37 | |
Impaired Loans Currently Performing Doubtful | 0 | 0 | |
Total loans, gross | 1,798 | 2,102 | |
Multi-Family [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Currently Performing | 20,272 | 20,066 | |
Non-accrual Loans | 1,968 | 95 | |
Special Mention | 2,904 | ||
Impaired Loans Currently Performing Substandard | 1,126 | 2,926 | |
Impaired Loans Currently Performing Doubtful | 0 | 0 | |
Total loans, gross | 23,366 | 25,991 | |
Construction [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Currently Performing | 32,669 | 24,241 | |
Impaired Loans Currently Performing Doubtful | 0 | 0 | |
Total loans, gross | 32,669 | 24,241 | |
Land [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Currently Performing | 11,604 | 14,674 | |
30-89 Days Past Due | 654 | ||
90 Days + past due and Accruing | 1,486 | ||
Non-accrual Loans | 1,680 | 215 | 301 |
Special Mention | 43 | 362 | |
Impaired Loans Currently Performing Substandard | 7,841 | 10,749 | |
Impaired Loans Currently Performing Doubtful | 0 | 0 | |
Total loans, gross | 22,654 | 26,654 | |
Non-Residential Real Estate [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Currently Performing | 147,938 | 131,854 | |
Non-accrual Loans | 672 | 1,159 | 101 |
Special Mention | 4,158 | 5,492 | |
Impaired Loans Currently Performing Substandard | 4,346 | 12,091 | |
Impaired Loans Currently Performing Doubtful | 0 | 0 | |
Total loans, gross | 157,114 | 150,596 | |
Farmland [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Currently Performing | 40,309 | 40,057 | |
30-89 Days Past Due | 64 | ||
Non-accrual Loans | 168 | 115 | 12 |
Special Mention | 516 | ||
Impaired Loans Currently Performing Substandard | 162 | 2,122 | |
Impaired Loans Currently Performing Doubtful | 0 | 0 | |
Total loans, gross | 40,639 | 42,874 | |
Consumer Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Currently Performing | 18,142 | 14,104 | |
30-89 Days Past Due | 29 | 14 | |
Non-accrual Loans | 2 | ||
Special Mention | 21 | ||
Impaired Loans Currently Performing Substandard | 204 | 299 | |
Impaired Loans Currently Performing Doubtful | 0 | 0 | |
Total loans, gross | 18,375 | 14,438 | |
Commercial Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Currently Performing | 88,384 | 71,191 | |
30-89 Days Past Due | 701 | 55 | |
Non-accrual Loans | 1,195 | 90 | $ 263 |
Special Mention | 357 | 325 | |
Impaired Loans Currently Performing Substandard | 913 | 2,493 | |
Impaired Loans Currently Performing Doubtful | 0 | 0 | |
Total loans, gross | $ 91,550 | $ 74,154 |
Loans - Allowance for Loan Lo49
Loans - Allowance for Loan Losses and Recorded Investment in Loans by Portfolio Segment and Impairment Method (Detail) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 | Sep. 30, 2014 |
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Individually evaluated for impairment | $ 545 | $ 1,514 | |
Collectively evaluated for impairment | 4,942 | 4,775 | |
Total ending allowance balance | 5,487 | 6,289 | $ 8,100 |
Loans individually evaluated for impairment | 23,483 | 37,367 | |
Loans collectively evaluated for impairment | 544,028 | 508,472 | |
Total ending loans balance | 567,511 | 545,839 | |
Commercial Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Individually evaluated for impairment | 56 | ||
Collectively evaluated for impairment | 439 | 504 | |
Total ending allowance balance | 495 | 504 | |
Loans individually evaluated for impairment | 2,108 | 2,583 | |
Loans collectively evaluated for impairment | 89,442 | 71,571 | |
Total ending loans balance | 91,550 | 74,154 | |
Land Development/Construction [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Individually evaluated for impairment | 266 | 663 | |
Collectively evaluated for impairment | 1,615 | 606 | |
Total ending allowance balance | 1,881 | 1,269 | |
Loans individually evaluated for impairment | 9,521 | 10,964 | |
Loans collectively evaluated for impairment | 45,802 | 39,931 | |
Total ending loans balance | 55,323 | 50,895 | |
Commercial Real Estate [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Individually evaluated for impairment | 143 | 738 | |
Collectively evaluated for impairment | 1,469 | 1,891 | |
Total ending allowance balance | 1,612 | 2,629 | |
Loans individually evaluated for impairment | 8,442 | 18,508 | |
Loans collectively evaluated for impairment | 212,677 | 200,953 | |
Total ending loans balance | 221,119 | 219,461 | |
Residential Real Estate [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Individually evaluated for impairment | 29 | 51 | |
Collectively evaluated for impairment | 1,120 | 1,342 | |
Total ending allowance balance | 1,149 | 1,393 | |
Loans individually evaluated for impairment | 3,208 | 5,013 | |
Loans collectively evaluated for impairment | 177,936 | 181,878 | |
Total ending loans balance | 181,144 | 186,891 | |
Consumer Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Individually evaluated for impairment | 51 | 62 | |
Collectively evaluated for impairment | 299 | 432 | |
Total ending allowance balance | 350 | 494 | |
Loans individually evaluated for impairment | 204 | 299 | |
Loans collectively evaluated for impairment | 18,171 | 14,139 | |
Total ending loans balance | $ 18,375 | $ 14,438 |
Loans - Loans by Classification
Loans - Loans by Classification Type and Related Allowance Amounts (Detail) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | $ 567,511 | $ 545,839 |
Allowance for Performing Loans | 4,942 | 4,775 |
One-to-Four Family Mortgages [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 146,370 | 150,551 |
Allowance for Performing Loans | 931 | 1,147 |
Home Equity Line of Credit [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 32,976 | 34,238 |
Allowance for Performing Loans | 181 | 181 |
Junior Liens [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 1,798 | 2,102 |
Allowance for Performing Loans | 8 | 14 |
Multi-Family [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 23,366 | 25,991 |
Allowance for Performing Loans | 74 | 85 |
Construction [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 32,669 | 24,241 |
Allowance for Performing Loans | 197 | 146 |
Land [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 22,654 | 26,654 |
Allowance for Performing Loans | 1,417 | 460 |
Non-Residential Real Estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 157,114 | 150,596 |
Allowance for Performing Loans | 1,058 | 1,345 |
Farmland [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 40,639 | 42,874 |
Allowance for Performing Loans | 337 | 461 |
Consumer Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 18,375 | 14,438 |
Allowance for Performing Loans | 300 | 432 |
Commercial Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 91,550 | 74,154 |
Allowance for Performing Loans | 439 | 504 |
Pass [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 537,618 | 498,609 |
Pass [Member] | One-to-Four Family Mortgages [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 143,121 | 146,129 |
Pass [Member] | Home Equity Line of Credit [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 32,703 | 33,481 |
Pass [Member] | Junior Liens [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 1,746 | 2,025 |
Pass [Member] | Multi-Family [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 20,272 | 20,066 |
Pass [Member] | Construction [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 32,669 | 24,241 |
Pass [Member] | Land [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 11,604 | 15,328 |
Pass [Member] | Non-Residential Real Estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 147,938 | 131,854 |
Pass [Member] | Farmland [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 40,309 | 40,121 |
Pass [Member] | Consumer Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 18,171 | 14,118 |
Pass [Member] | Commercial Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 89,085 | 71,246 |
Special Mention [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 6,410 | 9,863 |
Special Mention [Member] | One-to-Four Family Mortgages [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 330 | 203 |
Special Mention [Member] | Junior Liens [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 36 | 40 |
Special Mention [Member] | Multi-Family [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 2,904 | |
Special Mention [Member] | Land [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 1,529 | 362 |
Special Mention [Member] | Non-Residential Real Estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 4,158 | 5,492 |
Special Mention [Member] | Farmland [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 516 | |
Special Mention [Member] | Consumer Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 21 | |
Special Mention [Member] | Commercial Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 357 | 325 |
Impaired Loans Substandard [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 23,483 | 37,367 |
Impaired Loans Substandard [Member] | One-to-Four Family Mortgages [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 2,919 | 4,219 |
Impaired Loans Substandard [Member] | Home Equity Line of Credit [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 273 | 757 |
Impaired Loans Substandard [Member] | Junior Liens [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 16 | 37 |
Impaired Loans Substandard [Member] | Multi-Family [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 3,094 | 3,021 |
Impaired Loans Substandard [Member] | Land [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 9,521 | 10,964 |
Impaired Loans Substandard [Member] | Non-Residential Real Estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 5,018 | 13,250 |
Impaired Loans Substandard [Member] | Farmland [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 330 | 2,237 |
Impaired Loans Substandard [Member] | Consumer Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 204 | 299 |
Impaired Loans Substandard [Member] | Commercial Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | $ 2,108 | $ 2,583 |
Loans - Impaired Loans by Class
Loans - Impaired Loans by Classification Type (Detail) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | |
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment | $ 19,420 | $ 31,984 | |
Total impaired loans Recorded Investment | 23,483 | 37,367 | $ 38,400 |
Unpaid Principal Balance | 19,420 | 31,984 | |
Total impaired loans Unpaid Principal Balance | 24,500 | 38,945 | |
Related Allowance | 0 | 0 | |
Average Recorded Investment | 23,743 | 28,972 | |
Interest Income Recognized | 901 | 1,693 | |
Recorded Investment | 4,063 | 5,383 | |
Unpaid Principal Balance | 5,080 | 6,961 | |
Related Allowance | 545 | 1,514 | $ 2,900 |
Average Recorded Investment | 4,278 | 9,543 | |
Total impaired loans Average Recorded Investment | 28,021 | 38,515 | |
Interest Income Recognized | 129 | 273 | |
Total impaired loans Interest Income Recognized | 1,030 | 1,966 | |
One-to-Four Family Mortgages [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment | 2,212 | 3,501 | |
Unpaid Principal Balance | 2,212 | 3,501 | |
Related Allowance | 0 | 0 | |
Average Recorded Investment | 2,343 | 2,972 | |
Interest Income Recognized | 55 | 176 | |
Recorded Investment | 707 | 718 | |
Unpaid Principal Balance | 707 | 718 | |
Related Allowance | 29 | 51 | |
Average Recorded Investment | 710 | 1,434 | |
Interest Income Recognized | 30 | 44 | |
Home Equity Line of Credit [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment | 273 | 757 | |
Unpaid Principal Balance | 273 | 757 | |
Related Allowance | 0 | 0 | |
Average Recorded Investment | 553 | 690 | |
Interest Income Recognized | 9 | 35 | |
Junior Liens [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment | 16 | 37 | |
Unpaid Principal Balance | 16 | 37 | |
Related Allowance | 0 | 0 | |
Average Recorded Investment | 17 | 39 | |
Interest Income Recognized | 1 | 2 | |
Multi-Family [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment | 3,094 | 3,021 | |
Unpaid Principal Balance | 3,094 | 3,021 | |
Related Allowance | 0 | 0 | |
Average Recorded Investment | 3,019 | 1,342 | |
Interest Income Recognized | 126 | 190 | |
Construction [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Related Allowance | 0 | 0 | |
Average Recorded Investment | 29 | ||
Land [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment | 7,290 | 7,740 | |
Unpaid Principal Balance | 7,290 | 7,740 | |
Related Allowance | 0 | 0 | |
Average Recorded Investment | 8,014 | 8,978 | |
Interest Income Recognized | 350 | 339 | |
Recorded Investment | 2,231 | 3,224 | |
Unpaid Principal Balance | 3,248 | 4,737 | |
Related Allowance | 266 | 663 | |
Average Recorded Investment | 2,083 | 3,418 | |
Interest Income Recognized | 72 | 160 | |
Farmland [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment | 330 | 2,237 | |
Unpaid Principal Balance | 330 | 2,237 | |
Related Allowance | 0 | 0 | |
Average Recorded Investment | 268 | 3,968 | |
Interest Income Recognized | 35 | 125 | |
Average Recorded Investment | 619 | ||
Non-Residential Real Estate [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment | 4,297 | 12,057 | |
Unpaid Principal Balance | 4,297 | 12,057 | |
Related Allowance | 0 | 0 | |
Average Recorded Investment | 7,819 | 8,672 | |
Interest Income Recognized | 253 | 669 | |
Recorded Investment | 721 | 1,193 | |
Unpaid Principal Balance | 721 | 1,258 | |
Related Allowance | 143 | 738 | |
Average Recorded Investment | 875 | 3,617 | |
Interest Income Recognized | 20 | 69 | |
Consumer Loans [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment | 51 | ||
Unpaid Principal Balance | 51 | ||
Related Allowance | 0 | 0 | |
Average Recorded Investment | 3 | 36 | |
Interest Income Recognized | 3 | ||
Recorded Investment | 204 | 248 | |
Unpaid Principal Balance | 204 | 248 | |
Related Allowance | 51 | 62 | |
Average Recorded Investment | 191 | 355 | |
Commercial Loans [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment | 1,908 | 2,583 | |
Unpaid Principal Balance | 1,908 | 2,583 | |
Related Allowance | 0 | 0 | |
Average Recorded Investment | 1,707 | 2,246 | |
Interest Income Recognized | 72 | 154 | |
Recorded Investment | 200 | ||
Unpaid Principal Balance | 200 | ||
Related Allowance | 56 | ||
Average Recorded Investment | 419 | $ 100 | |
Interest Income Recognized | $ 7 |
Loans - Summary of the Activity
Loans - Summary of the Activity in Loans Classified as TDRs (Detail) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2015 | Dec. 31, 2014 | |
Financing Receivable, Modifications [Line Items] | ||
Beginning Balance | $ 3,284 | $ 3,284 |
New TDR | 2,149 | 10,271 |
Loss or Foreclosure | 0 | 0 |
Transferred to Held For Sale | (6,987) | |
Loan Amortization | (1) | |
Removed from (Taken to) Non-accrual | 0 | 0 |
Ending Balance | 5,432 | 3,284 |
Non-Residential Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Beginning Balance | 3,284 | 3,284 |
New TDR | 2,149 | 10,271 |
Loss or Foreclosure | 0 | 0 |
Transferred to Held For Sale | (6,987) | |
Loan Amortization | (1) | |
Removed from (Taken to) Non-accrual | 0 | 0 |
Ending Balance | $ 5,432 | $ 3,284 |
Real Estate and Other Assets 53
Real Estate and Other Assets Owned - Additional Information (Detail) | 9 Months Ended |
Sep. 30, 2015USD ($) | |
Banking and Thrift, Interest [Abstract] | |
Minimum book balance for appraisal on all real estate owned | $ 250,000 |
Real Estate and Other Assets 54
Real Estate and Other Assets Owned - Presentation of Balances in Other Real Estate and Other Assets Owned and Non-Accrual Loans Consisting Other Non-Performing Loan (Detail) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Dec. 31, 2013 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Total other assets owned | $ 1,736 | $ 1,927 | $ 1,954 | $ 1,674 |
Total non-accrual loans | 7,158 | 3,175 | 1,117 | |
Past due 90 days still accruing | 1,486 | |||
Total non-performing assets | $ 10,380 | $ 5,102 | $ 3,071 | |
Non-performing assets / Total assets | 1.18% | 0.55% | 0.33% | |
One-to-Four Family Mortgages [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Total other assets owned | $ 55 | $ 159 | $ 120 | 350 |
Total non-accrual loans | 1,427 | 1,501 | 407 | |
Land [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Total other assets owned | 943 | 1,768 | 1,834 | 1,124 |
Total non-accrual loans | 1,680 | 215 | 301 | |
Past due 90 days still accruing | 1,486 | |||
Non-Residential Real Estate [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Total other assets owned | 738 | $ 200 | ||
Total non-accrual loans | $ 672 | $ 1,159 | $ 101 |
Real Estate and Other Assets 55
Real Estate and Other Assets Owned - Summary of Activity in Company's Real Estate and Other Assets Owned (Detail) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2015 | Dec. 31, 2014 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Beginning balance | $ 1,927 | $ 1,674 |
Foreclosures | 843 | 1,579 |
Proceeds/Sales | (318) | (1,118) |
Reduction in Values | (162) | |
Gain (Loss) on Sale | (716) | (46) |
Ending balance | 1,736 | 1,927 |
One-to-Four Family Mortgages [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Beginning balance | 159 | 350 |
Foreclosures | 105 | 461 |
Proceeds/Sales | (194) | (667) |
Reduction in Values | (5) | |
Gain (Loss) on Sale | (15) | 20 |
Ending balance | 55 | 159 |
Land [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Beginning balance | 1,768 | 1,124 |
Foreclosures | 943 | |
Proceeds/Sales | (124) | (123) |
Reduction in Values | (157) | |
Gain (Loss) on Sale | (701) | (19) |
Ending balance | 943 | 1,768 |
Non-Residential Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Beginning balance | 200 | |
Foreclosures | 738 | 175 |
Proceeds/Sales | (328) | |
Gain (Loss) on Sale | $ (47) | |
Ending balance | $ 738 |
Investments in Affiliated Com56
Investments in Affiliated Companies - Additional Information (Detail) | Sep. 30, 2015 |
HopFed Capital Trust [Member] | Majority-Owned Subsidiary, Unconsolidated [Member] | |
Schedule of Investments [Line Items] | |
Percent of common stock of HopFed Bancorp, Inc. | 100.00% |
Investments in Affiliated Com57
Investments in Affiliated Companies - Summary Statements of Financial Condition (Detail) - Majority-Owned Subsidiary, Unconsolidated [Member] - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Assets - investment in subordinated debentures issued by HopFed Bancorp, Inc. | $ 10,310 | $ 10,310 |
Liabilities | 0 | 0 |
Total stockholders' equity | 10,310 | 10,310 |
Trust Preferred Securities [Member] | ||
Total stockholders' equity | 10,000 | 10,000 |
Common Stock [Member] | ||
Total stockholders' equity | $ 310 | $ 310 |
Investments in Affiliated Com58
Investments in Affiliated Companies - Summary Statements of Financial Condition (Parenthetical) (Detail) | Sep. 30, 2015 | Dec. 31, 2014 |
Majority-Owned Subsidiary, Unconsolidated [Member] | Common Stock [Member] | ||
Percent of common stock of HopFed Bancorp, Inc. | 100.00% | 100.00% |
Investments in Affiliated Com59
Investments in Affiliated Companies - Summary Statement of Income (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Schedule of Equity Method Investments [Line Items] | ||||
Income - interest income from subordinated debentures issued by HopFed Bancorp, Inc. | $ 8,012 | $ 8,994 | $ 25,126 | $ 26,386 |
Majority-Owned Subsidiary, Unconsolidated [Member] | ||||
Schedule of Equity Method Investments [Line Items] | ||||
Income - interest income from subordinated debentures issued by HopFed Bancorp, Inc. | 87 | 88 | 264 | 261 |
Net income | $ 87 | $ 88 | $ 264 | $ 261 |
Investments in Affiliated Com60
Investments in Affiliated Companies - Summary Statement of Stockholders' Equity (Detail) - Majority-Owned Subsidiary, Unconsolidated [Member] - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Schedule of Equity Method Investments [Line Items] | ||||
Beginning balances | $ 10,310 | |||
Net income | $ 87 | $ 88 | 264 | $ 261 |
Dividends: | ||||
Trust preferred securities | (256) | |||
Common paid to HopFed Bancorp, Inc. | (8) | |||
Ending balances | 10,310 | 10,310 | ||
Trust Preferred Securities [Member] | ||||
Schedule of Equity Method Investments [Line Items] | ||||
Beginning balances | 10,000 | |||
Dividends: | ||||
Ending balances | 10,000 | 10,000 | ||
Common Stock [Member] | ||||
Schedule of Equity Method Investments [Line Items] | ||||
Beginning balances | 310 | |||
Dividends: | ||||
Ending balances | $ 310 | 310 | ||
Retained Earnings [Member] | ||||
Schedule of Equity Method Investments [Line Items] | ||||
Net income | 264 | |||
Dividends: | ||||
Trust preferred securities | (256) | |||
Common paid to HopFed Bancorp, Inc. | $ (8) |
Fair Value of Assets and Liab61
Fair Value of Assets and Liabilities - Additional information (Detail) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Securities available for sale | $ 239,922 | $ 303,628 |
Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Securities available for sale | 1,790 | $ 1,489 |
Significant Unobservable Inputs (Level 3) [Member] | Trust Preferred Securities [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Securities available for sale | $ 1,800 |
Fair Value of Assets and Liab62
Fair Value of Assets and Liabilities - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Detail) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Assets | ||
Available for sale securities | $ 239,922 | $ 303,628 |
Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Available for sale securities | 239,922 | 303,628 |
Liabilities | ||
Interest rate swap | 99 | 390 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Assets | ||
Available for sale securities | 2,010 | 3,980 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Available for sale securities | 2,010 | 3,980 |
Significant Other Observable Inputs (Level 2) [Member] | ||
Assets | ||
Available for sale securities | 236,122 | 298,159 |
Liabilities | ||
Interest rate swap | 99 | 390 |
Significant Other Observable Inputs (Level 2) [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Available for sale securities | 236,122 | 298,159 |
Liabilities | ||
Interest rate swap | 99 | 390 |
Significant Unobservable Inputs (Level 3) [Member] | ||
Assets | ||
Available for sale securities | 1,790 | 1,489 |
Significant Unobservable Inputs (Level 3) [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Available for sale securities | $ 1,790 | $ 1,489 |
Fair Value of Assets and Liab63
Fair Value of Assets and Liabilities - Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis (Detail) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Assets | ||
Other real estate and other assets owned | $ 1,736 | $ 1,927 |
Fair Value, Measurements, Nonrecurring [Member] | ||
Assets | ||
Other real estate and other assets owned | 1,736 | 1,927 |
Impaired loans, net of reserve | 3,518 | 3,869 |
Significant Unobservable Inputs (Level 3) [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Assets | ||
Other real estate and other assets owned | 1,736 | 1,927 |
Impaired loans, net of reserve | $ 3,518 | $ 3,869 |
Fair Value of Assets and Liab64
Fair Value of Assets and Liabilities - Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis (Parenthetical) (Detail) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 | Sep. 30, 2014 |
Fair Value Assets And Liabilities Measured On Nonrecurring Basis [Line Items] | |||
Reserve on impaired loans | $ 545 | $ 1,514 | $ 2,900 |
Fair Value, Measurements, Nonrecurring [Member] | |||
Fair Value Assets And Liabilities Measured On Nonrecurring Basis [Line Items] | |||
Reserve on impaired loans | 545 | 1,514 | |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Fair Value, Measurements, Nonrecurring [Member] | |||
Fair Value Assets And Liabilities Measured On Nonrecurring Basis [Line Items] | |||
Reserve on impaired loans | $ 545 | $ 1,514 |
Fair Value of Assets and Liab65
Fair Value of Assets and Liabilities - Roll-Forward of the Consolidated Condensed Statement of Financial Condition Items (Detail) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
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 September 30, | 289 | |
Accretion of previous discounted amounts | 12 | |
Purchases, issuances and settlements, net | 0 | 0 |
Transfers in and/or out of Level 3 | 0 | 0 |
Fair value, Ending balance | 1,790 | 1,489 |
Other Liabilities [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Purchases, issuances and settlements, net | 0 | 0 |
Transfers in and/or out of Level 3 | $ 0 | $ 0 |
Fair Value of Assets and Liab66
Fair Value of Assets and Liabilities - Estimated Fair Values of Financial Instruments (Detail) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Financial Assets: | ||
Securities available for sale | $ 239,922 | $ 303,628 |
Financial liabilities: | ||
Repurchase agreements | 40,300 | |
Amortized Cost [Member] | ||
Financial Assets: | ||
Cash and due from banks | 18,110 | 34,389 |
Interest-earning deposits | 5,647 | 6,050 |
Securities available for sale | 239,922 | 303,628 |
Federal Home Loan Bank stock | 4,428 | 4,428 |
Loans held for sale | 5,298 | 1,444 |
Loans receivable | 561,514 | 539,264 |
Accrued interest receivable | 4,119 | 4,576 |
Financial liabilities: | ||
Deposits | 706,198 | 731,308 |
Advances from borrowers for taxes and insurance | 1,077 | 513 |
Advances from Federal Home Loan Bank | 25,000 | 34,000 |
Repurchase agreements | 46,300 | 57,358 |
Subordinated debentures | 10,310 | 10,310 |
Off-balance-sheet liabilities: | ||
Market value of interest rate swap | 99 | 390 |
Estimated Fair Value [Member] | ||
Financial Assets: | ||
Cash and due from banks | 18,110 | 34,389 |
Interest-earning deposits | 5,647 | 6,050 |
Securities available for sale | 239,922 | 303,628 |
Federal Home Loan Bank stock | 4,428 | 4,428 |
Loans held for sale | 5,298 | 1,444 |
Loans receivable | 562,862 | 537,493 |
Accrued interest receivable | 4,119 | 4,576 |
Financial liabilities: | ||
Deposits | 689,565 | 714,750 |
Advances from borrowers for taxes and insurance | 1,077 | 513 |
Advances from Federal Home Loan Bank | 24,979 | 34,217 |
Repurchase agreements | 46,516 | 57,688 |
Subordinated debentures | 10,099 | 10,099 |
Off-balance-sheet liabilities: | ||
Market value of interest rate swap | 99 | 390 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Financial Assets: | ||
Cash and due from banks | 18,110 | 34,389 |
Interest-earning deposits | 5,647 | 6,050 |
Securities available for sale | 2,010 | 3,980 |
Significant Other Observable Inputs (Level 2) [Member] | ||
Financial Assets: | ||
Securities available for sale | 236,122 | 298,159 |
Federal Home Loan Bank stock | 4,428 | 4,428 |
Loans held for sale | 5,298 | 1,444 |
Accrued interest receivable | 4,119 | 4,576 |
Financial liabilities: | ||
Deposits | 689,565 | 714,750 |
Advances from borrowers for taxes and insurance | 1,077 | 513 |
Advances from Federal Home Loan Bank | 24,979 | 34,217 |
Repurchase agreements | 46,516 | 57,688 |
Off-balance-sheet liabilities: | ||
Market value of interest rate swap | 99 | 390 |
Significant Unobservable Inputs (Level 3) [Member] | ||
Financial Assets: | ||
Securities available for sale | 1,790 | 1,489 |
Loans receivable | 562,862 | 537,493 |
Financial liabilities: | ||
Subordinated debentures | $ 10,099 | $ 10,099 |
Derivative Instruments - Additi
Derivative Instruments - Additional Information (Detail) - USD ($) | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2015 | Dec. 31, 2014 | Oct. 31, 2008 | |
Derivative Instruments, Gain (Loss) [Line Items] | |||
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 | $ 99,000 | $ 390,000 | |
Interest Rate Swap [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Interest rate swap agreement expiry date | Oct. 8, 2015 |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) | 9 Months Ended |
Sep. 30, 2015USD ($) | |
Schedule Of Effective Tax Rate Reconciliation [Line Items] | |
Unrecognized tax benefits | $ 0 |
Effective tax rate | 34.00% |
Tennessee [Member] | |
Schedule Of Effective Tax Rate Reconciliation [Line Items] | |
Effective tax rate | 6.50% |
Other Assets - Additional Infor
Other Assets - Additional Information (Detail) | Sep. 30, 2015USD ($)Investment |
Net Investment Income [Line Items] | |
Number of investments | Investment | 2 |
Investment One [Member] | |
Net Investment Income [Line Items] | |
Future capital commitments | $ 0 |
Investment Two [Member] | |
Net Investment Income [Line Items] | |
Future capital commitments | 0 |
Other Assets [Member] | Investment One [Member] | |
Net Investment Income [Line Items] | |
Investment in each entity | 422,000 |
Other Assets [Member] | Investment Two [Member] | |
Net Investment Income [Line Items] | |
Investment in each entity | $ 1,000,000 |
Other Assets - Schedule of Inve
Other Assets - Schedule of Investments Recognized in Net Income (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Investment Income, Net [Abstract] | ||||
Investment loss included in pre-tax income | $ 55 | $ 51 | $ 165 | $ 153 |
Tax credits recognized in provision for income taxes | $ 24 | $ 20 | $ 72 | $ 60 |
Esop Plan - Additional Informat
Esop Plan - Additional Information (Detail) | 9 Months Ended |
Sep. 30, 2015USD ($)$ / sharesshares | |
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items] | |
ESOP shares | shares | 600,000 |
ESOP common stock, per share | $ / shares | $ 13.14 |
ESOP borrowed | $ 7,900,000 |
Accrued ESOP contribution liability | $ 630,000 |
Two Thousand Fifteen Employee Stock Ownership Plan [Member] | |
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items] | |
ESOP shares committed to release | shares | 37,063 |
Esop Plan - Summary of Shares H
Esop Plan - Summary of Shares Held by Employee Stock Ownership Plan (ESOP) (Detail) | Sep. 30, 2015USD ($)shares |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Accrued to allocate to Participants | 37,063 |
Unearned ESOP shares | 562,937 |
Total ESOP shares | 600,000 |
Fair value of unearned shares | $ | $ 6,727,097 |
Commitments and Contingencies -
Commitments and Contingencies - Additional Information (Detail) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2015 | Dec. 31, 2014 | |
Loss Contingencies [Line Items] | ||
Outstanding commitments | ||
Undisbursed loan commitments | $ 109,300 | |
Cash balance at bank federally insured amount | 30,200 | |
Outstanding borrowings | 25,000 | $ 34,000 |
FHLB [Member] | ||
Loss Contingencies [Line Items] | ||
Additional borrowing capacity | 45,600 | |
Overnight Line of Credit [Member] | ||
Loss Contingencies [Line Items] | ||
Overnight line of credit | 15,000 | |
Overnight Line of Credit [Member] | FHLB [Member] | ||
Loss Contingencies [Line Items] | ||
Overnight line of credit | 30,000 | |
Unsecured Overnight Facility [Member] | ||
Loss Contingencies [Line Items] | ||
Unsecured overnight borrowing capacity | 8,000 | |
Federal Home Loan Bank of Cincinnati [Member] | ||
Loss Contingencies [Line Items] | ||
Letters of credit | 13,000 | |
One Year Or Less [Member] | ||
Loss Contingencies [Line Items] | ||
Certificates of deposits | 200,100 | |
March 17, 2016 [Member] | ||
Loss Contingencies [Line Items] | ||
Outstanding borrowings | $ 4,000 | |
Interest rate | 5.34% | |
Maturity date | Mar. 17, 2016 | |
July 6, 2018 [Member] | ||
Loss Contingencies [Line Items] | ||
Outstanding borrowings | $ 6,000 | |
Interest rate | 1.18% | |
Maturity date | Jul. 6, 2018 | |
Loan Origination Commitments [Member] | ||
Loss Contingencies [Line Items] | ||
Outstanding commitments | $ 19,700 |
Commitments and contingencies74
Commitments and contingencies - Summary of Off-balance Sheet Commitments (Detail) $ in Thousands | Sep. 30, 2015USD ($) |
Standby Letters of Credit [Member] | |
Loss Contingencies [Line Items] | |
Line of credit | $ 47 |
Unused Home Equity Lines of Credit [Member] | |
Loss Contingencies [Line Items] | |
Line of credit | 30,034 |
Unused Commercial Lines of Credit [Member] | |
Loss Contingencies [Line Items] | |
Line of credit | 51,767 |
Unused Unsecured Personal Lines of Credit [Member] | |
Loss Contingencies [Line Items] | |
Line of credit | 27,458 |
Unfunded Commitments on Commercial Loans [Member] | |
Loss Contingencies [Line Items] | |
Line of credit | $ 19,726 |
Regulatory Matters - Additional
Regulatory Matters - Additional Information (Detail) - USD ($) $ in Billions | 1 Months Ended | 9 Months Ended | |
Jan. 31, 2016 | Sep. 30, 2015 | Dec. 31, 2014 | |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | |||
Common equity tier one capital ratio | 4.50% | ||
Tier 1 risk based capital ratios | 6.00% | 4.00% | |
Total risk based capital ratio | 8.00% | ||
Tier 1 leverage ratio | 4.00% | ||
Capital conservation buffer ratio | 2.50% | ||
Total assets | $ 15 | ||
Common equity tier 1 capital assets | 250 | ||
Bank [Member] | |||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | |||
Total assets | $ 10 | ||
Scenario, Forecast [Member] | |||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | |||
Tier 1 risk based capital ratios | 8.50% | ||
Total risk based capital ratio | 10.50% | ||
Common equity Tier 1 risk-based capital ratio | 7.00% | ||
Minimum capital conservation buffer | 0.625% |
Regulatory Matters - Schedule o
Regulatory Matters - Schedule of Company's and Bank's Capital Compliance (Detail) $ in Thousands | 9 Months Ended |
Sep. 30, 2015USD ($) | |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | |
Common equity tier 1 ratio | $ 95,063 |
Tier 1 leverage ratio | 95,063 |
Tier 1 risk-based capital ratio | 95,063 |
Total risk based capital ratio | $ 100,550 |
Common equity tier 1 ratio | 16.34% |
Tier 1 leverage ratio | 10.92% |
Tier 1 risk-based capital ratio | 16.34% |
Total risk based capital ratio | 17.20% |
Bank [Member] | |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | |
Common equity tier 1 ratio | $ 92,557 |
Tier 1 leverage ratio | 92,557 |
Tier 1 risk-based capital ratio | 92,557 |
Total risk based capital ratio | $ 98,044 |
Common equity tier 1 ratio | 15.90% |
Tier 1 leverage ratio | 10.67% |
Tier 1 risk-based capital ratio | 15.90% |
Total risk based capital ratio | 16.84% |