Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Sep. 30, 2016 | Nov. 06, 2016 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Sep. 30, 2016 | |
Document Fiscal Year Focus | 2,016 | |
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 | 6,717,719 |
Consolidated Condensed Statemen
Consolidated Condensed Statements of Financial Condition - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Assets | ||
Cash and due from banks | $ 24,741 | $ 46,926 |
Interest-earning deposits | 4,695 | 7,772 |
Cash and cash equivalents | 29,436 | 54,698 |
Federal Home Loan Bank stock, at cost | 4,428 | 4,428 |
Securities available for sale | 213,289 | 237,177 |
Loans held for sale | 1,547 | 2,792 |
Loans receivable, net of allowance for loan losses of $6,812 at September 30, 2016, and $5,700 at December 31, 2015 | 579,063 | 556,349 |
Accrued interest receivable | 3,603 | 4,139 |
Real estate and other assets owned | 741 | 1,736 |
Bank owned life insurance | 10,581 | 10,319 |
Premises and equipment, net | 23,579 | 24,034 |
Deferred tax assets | 2,144 | 2,642 |
Other assets | 3,495 | 4,840 |
Total assets | 871,906 | 903,154 |
Deposits: | ||
Non-interest-bearing accounts | 130,327 | 125,070 |
Interest-bearing accounts: | ||
Interest bearing checking accounts | 182,360 | 203,779 |
Savings and money market accounts | 98,929 | 95,893 |
Other time deposits | 300,701 | 314,664 |
Total deposits | 712,317 | 739,406 |
Advances from Federal Home Loan Bank | 11,000 | 15,000 |
Repurchase agreements | 44,465 | 45,770 |
Subordinated debentures | 10,310 | 10,310 |
Advances from borrowers for taxes and insurance | 1,111 | 614 |
Dividends payable | 287 | 287 |
Accrued expenses and other liabilities | 3,554 | 4,137 |
Total liabilities | 783,044 | 815,524 |
Stockholders' equity: | ||
Preferred stock, par value $0.01 per share; authorized - 500,000 shares; no shares issued and outstanding at September 30, 2016, and December 31, 2015. | ||
Common stock, par value $.01 per share; authorized 15,000,000 shares; 7,963,378 issued and 6,723,243 outstanding at September 30, 2016, and 7,951,699 issued and 6,865,811 outstanding at December 31, 2015 | 80 | 79 |
Additional paid-in-capital | 58,658 | 58,604 |
Retained earnings | 48,176 | 47,124 |
Treasury stock- common (at cost, 1,240,135 shares at September 30, 2016, and 1,085,888 shares at December 31, 2015) | (15,279) | (13,471) |
Unallocated ESOP shares (at cost, 514,187 shares at September 30, 2016, and 546,413 shares at December 31, 2015) | (6,756) | (7,180) |
Accumulated other comprehensive income, net of taxes | 3,983 | 2,474 |
Total stockholders' equity | 88,862 | 87,630 |
Total liabilities and stockholders' equity | $ 871,906 | $ 903,154 |
Consolidated Condensed Stateme3
Consolidated Condensed Statements of Financial Condition (Parenthetical) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Statement of Financial Position [Abstract] | ||
Loans receivable, allowance for loan losses | $ 6,812 | $ 5,700 |
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 | 7,963,378 | 7,951,699 |
Common stock, shares outstanding | 6,723,243 | 6,865,811 |
Treasury stock, shares | 1,240,135 | 1,085,888 |
Unallocated ESOP shares | 514,187 | 546,413 |
Consolidated Condensed Stateme4
Consolidated Condensed Statements of Income - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Interest income: | ||||
Loans receivable | $ 6,569 | $ 6,374 | $ 19,175 | $ 18,895 |
Securities available for sale - taxable | 1,099 | 1,237 | 3,544 | 4,953 |
Securities available for sale - nontaxable | 326 | 398 | 1,019 | 1,267 |
Interest-earning deposits | 10 | 3 | 38 | 11 |
Total interest income | 8,004 | 8,012 | 23,776 | 25,126 |
Interest expense: | ||||
Deposits | 1,044 | 1,246 | 3,146 | 3,751 |
Advances from Federal Home Loan Bank | 33 | 71 | 134 | 206 |
Repurchase agreements | 139 | 130 | 421 | 368 |
Subordinated debentures | 99 | 186 | 287 | 553 |
Total interest expense | 1,315 | 1,633 | 3,988 | 4,878 |
Net interest income | 6,689 | 6,379 | 19,788 | 20,248 |
Provision for loan losses | 255 | 275 | 1,178 | 760 |
Net interest income after provision for loan losses | 6,434 | 6,104 | 18,610 | 19,488 |
Non-interest income: | ||||
Service charges | 719 | 750 | 2,094 | 2,184 |
Merchant card income | 308 | 286 | 913 | 842 |
Mortgage origination revenue | 415 | 345 | 1,218 | 865 |
Gain on sale of securities | 79 | 103 | 422 | 552 |
Income from bank owned life insurance | 104 | 108 | 265 | 252 |
Financial services commission | 131 | 186 | 455 | 539 |
Other operating income | 189 | 158 | 568 | 483 |
Total non-interest income | 1,945 | 1,936 | 5,935 | 5,717 |
Non-interest expenses: | ||||
Salaries and benefits | 3,757 | 3,960 | 11,646 | 12,148 |
Occupancy | 810 | 788 | 2,398 | 2,278 |
Data processing | 744 | 724 | 2,175 | 2,117 |
State deposit tax | 248 | 260 | 743 | 759 |
Intangible amortization | 32 | |||
Professional services | 368 | 380 | 1,008 | 1,177 |
Deposit insurance and examination | 164 | 135 | 496 | 403 |
Advertising | 376 | 337 | 1,067 | 983 |
Postage and communications | 157 | 162 | 484 | 428 |
Supplies | 148 | 107 | 456 | 364 |
Loss (gain) on real estate owned | 22 | (18) | 30 | 716 |
Real estate owned | 182 | 202 | 443 | 406 |
Gain on sale of premises and equipment | (72) | (72) | ||
Other operating | 449 | 516 | 1,771 | 1,446 |
Total non-interest expense | 7,353 | 7,553 | 22,645 | 23,257 |
Income before income tax | 1,026 | 487 | 1,900 | 1,948 |
Income tax expense (benefit) | 41 | (23) | 102 | 200 |
Net income | $ 985 | $ 510 | $ 1,798 | $ 1,748 |
Net income per share: | ||||
Basic | $ 0.16 | $ 0.08 | $ 0.29 | $ 0.27 |
Diluted | 0.16 | 0.08 | 0.29 | 0.27 |
Dividend per share | $ 0.04 | $ 0.04 | $ 0.12 | $ 0.12 |
Weighted average shares outstanding - basic | 6,212,231 | 6,359,556 | 6,247,536 | 6,493,449 |
Weighted average shares outstanding - diluted | 6,212,231 | 6,359,556 | 6,247,536 | 6,493,449 |
Consolidated Condensed Stateme5
Consolidated Condensed Statements of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Statement of Comprehensive Income [Abstract] | ||||
Net income | $ 985 | $ 510 | $ 1,798 | $ 1,748 |
Other comprehensive income, net of tax: | ||||
Unrealized gain (loss) on non-other than temporary impaired investment securities, net of taxes of $384 and ($468) for the three-month periods ended September 30, 2016, and September 30, 2015, respectively; and net of taxes of ($883) and ($89) for the nine month periods ended September 30, 2016, and September 30, 2015, respectively. | (744) | 920 | 1,715 | 184 |
Unrealized gain (loss) on OTTI securities, net of taxes of ($37) for the nine month period ended September 30, 2016; and $6 and ($98) for the three and nine month periods ended September 30, 2015, respectively. | (11) | 72 | 191 | |
Unrealized gain on derivatives, net of taxes of ($33) and ($98) for the three and nine month periods ended September 30, 2015, respectively. | 64 | 191 | ||
Reclassification adjustment for gains and accretion included in net income, net of taxes of $27 and $35 for three month periods ended September 30, 2016, and September 30, 2015, respectively; and $144 and $188 for the nine month periods ended September 30, 2016, and September 30, 2015, respectively. | (52) | (68) | (278) | (364) |
Total other comprehensive income (loss) | (796) | 905 | 1,509 | 202 |
Comprehensive income | $ 189 | $ 1,415 | $ 3,307 | $ 1,950 |
Consolidated Condensed Stateme6
Consolidated Condensed Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Statement of Comprehensive Income [Abstract] | ||||
Unrealized gain on investment securities available for sale, tax effect | $ 384 | $ (468) | $ (883) | $ (89) |
Unrealized gain (loss) on non other than temporary impaired securities, tax effect | 6 | (37) | (98) | |
Unrealized gain on derivatives, tax effect | (33) | (98) | ||
Reclassification adjustment for other than temporary impairment included in net income, tax effect | $ 27 | $ 35 | $ 144 | $ 188 |
Consolidated Condensed Stateme7
Consolidated Condensed Statement of Stockholders' Equity - USD ($) $ in Thousands | Total | Common Stock [Member] | Additional Paid In Capital [Member] | Retained Earnings [Member] | Treasury Stock Common [Member] | Unearned ESOP Shares [Member] | Accumulated Other Comprehensive Income [Member] |
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 | |||||
Issue of restricted stock, shares | 2,034 | ||||||
Repurchase of treasury stock | (11,370) | (11,370) | |||||
Repurchase of treasury stock, shares | (860,303) | ||||||
Treasury stock reissued | 7,884 | $ (7,884) | |||||
Treasury stock reissued, shares | 600,000 | ||||||
Change in price of ESOP shares | (32) | (32) | |||||
ESOP shares committed to release | 487 | 487 | |||||
Compensation expense, restricted stock awards | 144 | 144 | |||||
Net change in unrealized gain on derivatives, net of income taxes | 191 | 191 | |||||
Net change in unrealized gain on securities available for sale, net of income taxes | 11 | 11 | |||||
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 | ||||||
Beginning balance at Dec. 31, 2015 | 87,630 | $ 79 | 58,604 | 47,124 | (13,471) | $ (7,180) | 2,474 |
Beginning balance, Shares at Dec. 31, 2015 | 6,865,811 | ||||||
Consolidated net income | 1,798 | 1,798 | |||||
Issue of restricted stock | 1 | $ 1 | |||||
Issue of restricted stock, shares | 12,342 | ||||||
Forfieted restricted shares | (663) | ||||||
Repurchase of treasury stock | (1,808) | (1,808) | |||||
Repurchase of treasury stock, shares | (154,247) | ||||||
ESOP shares earned (in shares) | 424,000 | ||||||
ESOP shares earned | 424 | ||||||
Change in price of ESOP shares | (51) | (51) | |||||
Compensation expense, restricted stock awards | 105 | 105 | |||||
Net change in unrealized gain on securities available for sale, net of income taxes | 1,509 | 1,509 | |||||
Cash dividend to common stockholders | (746) | (746) | |||||
Ending balance at Sep. 30, 2016 | $ 88,862 | $ 80 | $ 58,658 | $ 48,176 | $ (15,279) | $ (6,756) | $ 3,983 |
Ending balance, Shares at Sep. 30, 2016 | 6,723,243 |
Consolidated Condensed Stateme8
Consolidated Condensed Statements of Cash Flows - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2015 | |
Cash flows from operating activities: | ||
Net cash provided by operating activities | $ 7,098 | $ 5,977 |
Cash flows from investing activities: | ||
Proceeds from sales, calls and maturities of securities available for sale | 54,274 | 91,119 |
Purchase of securities available for sale | (28,805) | (28,162) |
Net increase in loans | (24,246) | (26,827) |
Proceeds from sale of foreclosed assets | 1,319 | 318 |
Proceeds from sale of premises and equipment | 100 | |
Purchase of premises and equipment | (551) | (2,363) |
Net cash provided by investing activities | 2,091 | 34,085 |
Cash flows from financing activities: | ||
Net decrease in demand deposits | (13,126) | (1,582) |
Net decrease in time and other deposits | (13,963) | (23,528) |
Increase in advances from borrowers for taxes and insurance | 497 | 564 |
Advances from Federal Home Loan Bank | 23,000 | 36,000 |
Repayment of advances from Federal Home Loan Bank | (27,000) | (45,000) |
Net decrease in repurchase agreements | (1,305) | (11,058) |
Cash used to repurchase treasury stock | (1,808) | (11,370) |
Dividends paid on common stock | (746) | (770) |
Net cash used in financing activities | (34,451) | (56,744) |
Decrease in cash and cash equivalents | (25,262) | (16,682) |
Cash and cash equivalents, beginning of period | 54,698 | 40,439 |
Cash and cash equivalents, end of period | 29,436 | 23,757 |
Supplemental disclosures of cash flow information: | ||
Interest paid | 4,060 | 4,912 |
Income taxes paid (refund) | (700) | 100 |
Supplemental disclosures of non-cash investing and financing activities: | ||
Loans charged off | 674 | 1,744 |
Foreclosures and in substance foreclosures of loans during period | 354 | 843 |
Net unrealized gains on investment securities classified as available for sale | 2,286 | 16 |
Decrease in deferred tax asset related to unrealized gains on investments | (777) | (5) |
Dividends declared and payable | 289 | 289 |
Issue of common stock to ESOP | 7,884 | |
Issue of restricted common stock | $ 145 | $ 25 |
Basis of Presentation
Basis of Presentation | 9 Months Ended |
Sep. 30, 2016 | |
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 Solutions 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. In October 2016, the Bank opened a loan production office in Brentwood, Tennessee, that will be used our commercial loan officers and Heritage Mortgage Services. The accompanying unaudited financial statements have been prepared in accordance with accounting principles generally accepted (“GAAP”) in the United States of America for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of only normal recurring accruals) necessary for fair representation have been included. The results of operations and other data for the three month period ended September 30, 2016, are not necessarily indicative of results that may be expected for the entire fiscal year ending December 31, 2016. 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, 2015. The accounting policies followed by the Company are set forth in the Summary of Significant Accounting Policies in the Company’s December 31, 2015, Consolidated Financial Statements. |
Income Per Share
Income Per Share | 9 Months Ended |
Sep. 30, 2016 | |
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, 2016, and September 30, 2015. For the three and nine month periods ended September 30, 2016, and September 30, 2015, the Company’s financial statements reflect a liability adequate to release 32,226 and 37,063 shares, respectively, from the HopFed Bancorp, Inc. 2015 Employee Stock Ownership Plan (the “ESOP”). Therefore, the Company has included 32,226 and 37,063 shares held by the ESOP in the IPS calculation for the three and nine month periods ended September 30, 2016, and September 30, 2015, respectively. For the three and nine month periods ended September 30, 2016, and September 30, 2015, the Company has excluded all unearned shares held by the ESOP. For the three month periods ended 2016 2015 Basic IPS: Net income $ 985,000 $ 510,000 Average common shares outstanding 6,212,231 6,359,556 Net income per share $ 0.16 $ 0.08 Diluted IPS: Net income $ 985,000 $ 510,000 Average common shares outstanding 6,212,231 6,359,556 Dilutive effect of stock options — — Average diluted shares outstanding 6,212,231 6,359,556 Net income per share, diluted $ 0.16 $ 0.08 For the nine month periods ended 2016 2015 Basic IPS: Net income $ 1,798,000 $ 1,748,000 Average common shares outstanding 6,247,536 6,493,449 Net income per share $ 0.29 $ 0.27 Diluted IPS: Net income $ 1,798,000 $ 1,748,000 Average common shares outstanding 6,247,536 6,493,449 Dilutive effect of stock options — — Average diluted shares outstanding 6,247,536 6,493,449 Net income per share, diluted $ 0.29 $ 0.27 |
Stock Compensation
Stock Compensation | 9 Months Ended |
Sep. 30, 2016 | |
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 $27,000 and $105,000 for the three and nine month periods ended September 30, 2016, and $46,000 and $144,000 for the three and nine month periods ended September 30, 2015, respectively. The Company issued 856 and 12,342 shares of restricted stock during the three and nine month periods ended September 30, 2016. The Company issued 1,263 and 2,034 shares of restricted stock during the three and nine month periods ended September 30, 2015, respectively. The table below provides a detail of the Company’s future compensation expense related to restricted stock vesting at September 30, 2016: Year Ending December 31, Future 2016 $ 30,974 2017 88,200 2018 54,067 2019 9,354 2020 1,977 Total $ 184,572 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, 2016 | |
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, 2016, the Company has 24 securities with unrealized losses. The carrying amount of securities and their estimated fair values at September 30, 2016, were as follows: September 30, 2016 Amortized Gross Gross Estimated (Dollars in Thousands) Restricted: FHLB stock $ 4,428 — — 4,428 Available for sale: U.S. Treasury securities $ 2,000 4 — 2,004 U.S. Agency securities 78,524 2,611 (55 ) 81,080 Taxable municipal bonds 2,730 53 (3 ) 2,780 Tax free municipal bonds 36,473 1,968 (11 ) 38,430 Trust preferred securities 1,630 353 — 1,983 Mortgage-backed securities: GNMA 21,462 288 (44 ) 21,706 FNMA 37,174 813 (48 ) 37,939 FHLMC 7,392 111 — 7,503 NON-AGENCY CMO 3,774 — (288 ) 3,486 AGENCY CMO 16,096 283 (1 ) 16,378 $ 207,255 6,484 (450 ) 213,289 The carrying amount of securities and their estimated fair values at December 31, 2015, was as follows: December 31, 2015 Amortized Gross Gross Estimated (Dollars in Thousands) Restricted: FHLB stock $ 4,428 — — 4,428 Available for sale: U.S. Treasury securities $ 2,001 — (1 ) 2,000 U.S. Agency securities 91,694 1,727 (488 ) 92,933 Tax free municipal bonds 42,237 2,481 (59 ) 44,659 Taxable municipal bonds 6,190 52 (65 ) 6,177 Trust preferred securities 1,617 248 — 1,865 Mortgage-backed securities: GNMA 29,990 239 (239 ) 29,990 FNMA 28,189 266 (152 ) 28,303 FHLMC 8,113 24 (51 ) 8,086 Non-Agency CMO 3,828 — (174 ) 3,654 AGENCY CMO 19,570 71 (131 ) 19,510 $ 233,429 5,108 (1,360 ) 237,177 The scheduled maturities of debt securities available for sale at September 30, 2016, were as follows (Dollars in Thousands): Amortized Estimated Due within one year $ 4,579 4,590 Due in one to five years 13,932 14,287 Due in five to ten years 32,998 34,297 Due after ten years 14,052 15,211 65,561 68,385 Amortizing agency bonds 55,796 57,892 Mortgage-backed securities 85,898 87,012 Total securities available for sale $ 207,255 213,289 The scheduled maturities of debt securities available for sale at December 31, 2015, were as follows (Dollars in Thousands): Amortized Estimated Due within one year $ — — Due in one to five years 17,939 18,304 Due in five to ten years 42,151 42,793 Due after ten years 22,702 24,088 82,792 85,185 Amortizing agency bonds 60,947 62,449 Mortgage-backed securities 89,690 89,543 Total securities available for sale $ 233,429 237,177 The estimated fair value and unrealized loss amounts of temporarily impaired investments as of September 30, 2016, are as follows: Less than 12 months 12 months or longer Total Estimated Unrealized Estimated Unrealized Estimated Unrealized (Dollars in Thousands) Available for sale U.S. Agency securities $ 5,314 (13 ) 3,707 (42 ) 9,021 (55 ) Taxable municipals 554 (3 ) — — 554 (3 ) Tax free municipals 1,717 (11 ) — — 1,717 (11 ) Mortgage-backed securities: GNMA 3,458 (7 ) 4,938 (37 ) 8,396 (44 ) FNMA 7,301 (36 ) 1,887 (12 ) 9,188 (48 ) Agency CMO 1,057 (1 ) — — 1,057 (1 ) NON-AGENCY CMOs — — 3,485 (288 ) 3,485 (288 ) Total available for sale $ 19,401 (71 ) 14,017 (379 ) 33,418 (450 ) The estimated fair value and unrealized loss amounts of temporarily impaired investments as of December 31, 2015, were as follows: Less than 12 months 12 months or longer Total Estimated Unrealized Estimated Unrealized Estimated Unrealized (Dollars in Thousands) Available for sale U.S. Treasury securities U.S. Agency securities Taxable municipals $ 2,000 26,499 2,159 (1 (203 (32 ) ) ) — 16,224 1,887 — (285 (33 ) ) 2,000 42,723 4,046 (1 (488 (65 ) ) ) Tax free municipals — — 3,878 (59 ) 3,878 (59 ) Mortgage-backed securities: GNMA 10,840 (105 ) 11,508 (134 ) 22,348 (239 ) FNMA 11,484 (87 ) 3,036 (65 ) 14,520 (152 ) FHLMC 7,336 (51 ) — — 7,336 (51 ) Non-Agency CMOs — — 3,654 (174 ) 3,654 (174 ) AGENCY CMOs 9,781 (90 ) 1,991 (41 ) 11,772 (131 ) Total Available for Sale $ 70,099 (569 ) 42,178 (791 ) 112,277 (1,360 ) At September 30, 2016, securities with a book value of approximately $118.0 million and a market value of approximately $123.7 million were pledged to various municipalities for deposits in excess of FDIC limits as required by law. At September 30, 2016, securities with a book and market value of $44.5 million were sold under agreements to repurchase from various customers. |
Loans
Loans | 9 Months Ended |
Sep. 30, 2016 | |
Receivables [Abstract] | |
Loans | (5) LOANS Set forth below is selected data relating to the composition of the loan portfolio by type of loan at September 30, 2016, and December 31, 2015. At September 30, 2016, and December 31, 2015, there were no concentrations of loans exceeding 10% of total loans other than as disclosed below: September 30, 2016 September 30, 2016 December 31, 2015 December 31, 2015 (Dollars in thousands, except percentages) Real estate loans: One-to-four family (closed end) first mortgages $ 146,744 25.0 % 145,999 26.0 % Home equity lines of credit 34,563 5.9 % 33,644 6.0 % Junior liens 1,601 0.3 % 1,771 0.3 % Multi-family 32,418 5.5 % 24,725 4.4 % Construction 37,775 6.5 % 34,878 6.2 % Land 22,999 3.9 % 22,453 4.0 % Farmland 46,877 8.0 % 42,246 7.5 % Non-residential real estate 170,759 29.1 % 149,711 26.6 % Total mortgage loans 493,736 84.2 % 455,427 81.0 % Consumer loans 8,908 1.5 % 20,324 3.6 % Commercial loans 83,684 14.3 % 86,743 15.4 % Total other loans 92,592 15.8 % 107,067 19.0 % Total loans, gross 586,328 100.0 % 562,494 100.0 % Deferred loan cost, net of income (453 ) (445 ) Less allowance for loan losses (6,812 ) (5,700 ) Total loans $ 579,063 556,349 The Federal Home Loan Bank of Cincinnati has issued letters of credit in the Bank’s name totaling $45.6 million secured by the Bank’s loan portfolio to secure additional municipal deposits. The allowance for loan losses totaled $6.8 million at September 30, 2016, $5.7 million at December 31, 2015, and $5.5 million at September 30, 2015, respectively. The ratio of the allowance for loan losses to total loans was 1.16% at September 30, 2016, 1.01% at December 31, 2015, and 0.97% at September 30, 2015. At December 31, 2015 and September 30, 2016, the Company had no loans past due more than 90 days still accruing interest. The following table indicates the type and level of non-accrual loans at the periods indicated below: September 30, 2016 December 31, 2015 September 30, 2015 (Dollars in Thousands) One-to-four family mortgages $ 700 2,234 1,427 Home equity line of credit 124 48 48 Multi-family 1,772 1,968 1,968 Land 7,842 1,553 1,680 Non-residential real estate 248 247 672 Farmland — 166 168 Consumer loans 31 8 — Commercial loans 947 1,198 1,195 Total non-accrual loans $ 11,664 7,422 7,158 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, 2016 (Dollars in Thousands): General Specific Ending Balance Charge off Recovery Provision Provision Balance 12/31/2015 2016 2016 2016 2016 9/30/2016 One-to-four family mortgages $ 1,030 — 164 162 (224 ) 1,132 Home equity line of credit 201 (30 ) 12 134 18 335 Junior liens 8 — 14 3 (14 ) 11 Multi-family 227 — — 68 213 508 Construction 377 — — 429 — 806 Land 1,379 — — (266 ) (69 ) 1,044 Non-residential real estate 1,139 — 6 138 (39 ) 1,244 Farmland 358 — — 657 — 1,015 Consumer loans 358 (322 ) 122 (166 ) 221 213 Commercial loans 623 (322 ) 290 (22 ) (65 ) 504 $ 5,700 (674 ) 608 1,137 41 6,812 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, 2015 (Dollars in Thousands): General Specific Ending Balance Charge off Recovery Provision Provision Balance 12/31/2014 2015 2015 2015 2015 12/31/2015 One-to-four family mortgages $ 1,198 (143 ) 39 (176 ) 112 1,030 Home equity line of credit 181 (92 ) 10 20 82 201 Junior liens 14 — 4 (6 ) (4 ) 8 Multi-family 85 — — 4 138 227 Construction 146 — — 231 — 377 Land 1,123 (911 ) — 850 317 1,379 Non-residential real estate 2,083 (222 ) 2 (944 ) 220 1,139 Farmland 461 — — 500 (603 ) 358 Consumer loans 494 (298 ) 118 (123 ) 167 358 Commercial loans 504 (201 ) 54 (61 ) 327 623 $ 6,289 (1,867 ) 227 295 756 5,700 The table below presents past due and non-accrual balances at September 30, 2016, by loan classification allocated between performing and non-performing: 30 - 89 Impaired Loans Currently Days Non-accrual Special Currently Performing Performing Past Due Loans Mention Substandard Doubtful Total (Dollars in Thousands) One-to-four family mortgages 144,121 466 700 753 704 — 146,744 Home equity line of credit 33,970 53 124 25 391 — 34,563 Junior liens 1,552 5 — 32 12 — 1,601 Multi-family 27,623 — 1,772 — 3,023 — 32,418 Construction 37,775 — — — — — 37,775 Land 14,562 — 7,842 37 558 — 22,999 Farmland 44,040 26 — 505 2,306 — 46,877 Non-residential real estate 160,096 — 248 5 10,410 — 170,759 Consumer loans 8,603 2 31 — 272 — 8,908 Commercial loans 79,450 34 947 666 2,587 — 83,684 Total 551,792 586 11,664 2,023 20,263 — 586,328 The table below presents past due and non-accrual balances at December 31, 2015, by loan classification allocated between performing and non-performing (Dollars in Thousands): 30 - 89 Impaired Loans Currently Days Non-accrual Special Currently Performing Performing Past Due Loans Mention Substandard Doubtful Total One-to-four family mortgages $ 142,058 671 2,234 41 995 — $ 145,999 Home equity line of credit 33,396 79 48 — 121 — 33,644 Junior liens 1,720 — — 35 16 — 1,771 Multi-family 21,638 6 1,968 — 1,113 — 24,725 Construction 34,878 — — — — — 34,878 Land 11,047 747 1,553 41 9,065 — 22,453 Non-residential real estate 138,637 228 247 2,489 8,110 — 149,711 Farmland 41,853 64 166 — 163 — 42,246 Consumer loans 20,108 15 8 — 193 — 20,324 Commercial loans 84,272 45 1,198 352 876 — 86,743 Total $ 529,607 1,855 7,422 2,958 20,652 — 562,494 The following table presents the balance in the allowance for loan losses and the recorded investment in loans as of September 30, 2016, and December 31, 2015, by portfolio segment and based on the impairment method as of September 30, 2016, and December 31, 2015. Land Development / Commercial Residential Commercial Construction Real Estate Real Estate Consumer Total September 30, 2016: Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ 83 — 452 — 70 $ 605 Collectively evaluated for impairment 421 1,850 2,315 1,478 143 6,207 Total ending allowance balance $ 504 1,850 2,767 1,478 213 $ 6,812 Loans: Loans individually evaluated for impairment $ 3,534 8,400 17,759 1,931 303 $ 31,927 Loans collectively evaluated for impairment 80,150 52,374 232,295 180,977 8,605 554,401 Total ending loans balance $ 83,684 60,774 250,054 182,908 8,908 586,328 Land Development / Commercial Residential Commercial Construction Real Estate Real Estate Consumer Total (Dollars in Thousands) December 31, 2015: Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ 180 69 272 60 49 $ 630 Collectively evaluated for impairment 443 1,687 1,452 1,179 309 5,070 Total ending allowance balance $ 623 1,756 1,724 1,239 358 $ 5,700 Loans: Loans individually evaluated for impairment $ 2,074 10,618 11,767 3,414 201 $ 28,074 Loans collectively evaluated for impairment 84,669 46,713 204,915 178,000 20,123 534,420 Total ending loans balance $ 86,743 57,331 216,682 181,414 20,324 $ 562,494 All loans listed as 30-89 days past due and non-accrual are not performing as agreed. Loans listed as special mentioned, substandard and doubtful are paying as agreed. However, the customer’s financial statements may indicate weaknesses in their current cash flow, the customer’s industry may be in decline due to current economic conditions, collateral values used to secure the loan may be declining, or the Company may be concerned about the customer’s future business prospects. The Company does not originate loans it considers sub-prime and is not aware of any exposure to the additional credit concerns associated with sub-prime lending in either the Company’s loan or investment portfolios. The Company does have a significant amount of construction and land development loans. Management reports to the Company’s Board of Directors on the status of the Company’s specific construction and development loans as well as the market trends in those markets in which the Company actively participates. The Company’s annualized net charge off ratios for nine month periods ended September 30, 2016, September 30, 2015, and the year ended December 31, 2015, was 0.02%, 0.37% and 0.29%, respectively. The ratios of allowance for loan losses to non-accrual loans at September 30, 2016, September 30, 2015, and December 31, 2015, were 58.40%, 76.70%, and 76.80%, 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 commercial loan risk grades: Excellent - Very Good - Satisfactory - Acceptable - Watch - Special Mention - Substandard - Doubtful - Loss The following credit risk standards are assigned to consumer loans. Satisfactory - Substandard Assets - Loss Assets - 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, 2016, December 31, 2015, and September 30, 2015, the Company’s impaired loans totaled $31.9 million, $28.1 million and $23.5 million, respectively. At September 30, 2016, December 31, 2015 and September 30, 2015, the Company’s specific reserve for impaired loans totaled $605,000, $630,000 and $545,000 respectively. A summary of the Company’s impaired loans, including their respective regulatory classification and their respective specific reserve at September 30, 2016, and December 31, 2015, were as follows: Special Impaired Loans Specific Allowance for Loans not September 30, 2016 Pass Mention Substandard Doubtful Total Impairment Impaired (Dollars in Thousands) One-to-four family mortgages $ 144,587 753 1,404 — 146,744 — 1,132 Home equity line of credit 34,023 25 515 — 34,563 — 335 Junior liens 1,557 32 12 — 1,601 — 11 Multi-family 27,623 — 4,795 — 32,418 351 157 Construction 37,775 — — — 37,775 — 806 Land 14,562 37 8,400 — 22,999 — 1,044 Non-residential real estate 160,096 5 10,658 — 170,759 101 1,143 Farmland 44,066 505 2,306 — 46,877 — 1,015 Consumer loans 8,605 — 303 — 8,908 70 143 Commercial loans 79,484 666 3,534 — 83,684 83 421 Total $ 552,378 2,023 31,927 — 586,328 605 6,207 Special Impaired Loans Specific Allowance for Loans not December 31, 2015 Pass Mention Substandard Doubtful Total Impairment Impaired (Dollars in Thousands) One-to-four family mortgages $ 142,729 41 3,229 — 145,999 60 970 Home equity line of credit 33,475 — 169 — 33,644 — 201 Junior lien 1,720 35 16 — 1,771 — 8 Multi-family 21,644 — 3,081 — 24,725 138 89 Construction 34,878 — — — 34,878 — 377 Land 11,794 41 10,618 — 22,453 69 1,310 Non-residential real estate 138,865 2,489 8,357 — 149,711 134 1,005 Farmland 41,917 — 329 — 42,246 — 358 Consumer loans 20,123 — 201 — 20,324 49 309 Commercial loans 84,317 352 2,074 — 86,743 180 443 Total $ 531,462 2,958 28,074 — 562,494 630 5,070 Impaired loans by classification type and the related valuation allowance amounts at September 30, 2016, were as follows: At September 30, 2016 For the nine month period ended Recorded Unpaid Related Average Interest (Dollars in Thousands) Impaired loans with no specific allowance: One-to-four family mortgages $ 1,404 1,404 — 1,627 53 Home equity line of credit 515 515 — 257 14 Junior liens 12 12 — 13 1 Multi-family 2,085 2,085 — 3,920 47 Construction — — — — — Land 8,400 9,357 — 11,012 512 Farmland 2,306 2,306 — 913 84 Non-residential real estate 9,951 9,951 — 8,850 336 Consumer loans 24 24 — 37 2 Commercial loans 2,599 2,599 — 4,444 119 Total 27,296 28,253 — 31,073 1,168 Impaired loans with a specific allowance: One-to-four family mortgages — — — 786 — Home equity line of credit — — — — — Junior liens — — — — — Multi-family 2,710 2,781 351 310 105 Construction — — — — — Land — — — 191 — Farmland — — — — — Non-residential real estate 707 707 101 712 22 Consumer loans 279 279 70 227 — Commercial loans 935 935 83 950 49 Total 4,631 4,702 605 3,176 176 Total impaired loans $ 31,927 32,955 605 34,249 1,344 Impaired loans by classification type and the related valuation allowance amounts at December 31, 2015, were as follows: At December 31, 2015 For the year ended Recorded Unpaid Related Average Interest (Dollars in Thousands) Impaired loans with no specific allowance One-to-four family mortgages $ 2,526 2,526 — 2,389 80 Home equity line of credit 169 169 — 457 7 Junior liens 16 16 — 17 1 Multi-family 2,128 2,128 — 2,797 126 Construction — — — — — Land 10,038 10,998 — 8,520 671 Non-residential real estate 7,640 7,640 — 283 404 Farmland 329 329 — 7,774 19 Consumer loans 5 5 — 3 — Commercial loans 1,274 1,274 — 1,599 73 Total 24,125 25,085 — 23,839 1,381 Impaired loans with a specific allowance One-to-four family mortgages $ 703 703 60 709 40 Home equity line of credit — — — — — Junior liens — — — — — Multi-family 953 953 138 318 17 Construction — — — — — Land 580 580 69 1,707 46 Non-residential real estate 717 717 134 836 28 Farmland — — — — — Consumer loans 196 196 49 194 — Commercial loans 800 800 180 514 15 Total 3,949 3,949 630 4,278 146 Total impaired loans $ 28,074 29,034 630 28,117 1,527 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. At December 31, 2015, the Company had eight loans, representing two lending relationships, classified as performing TDR’s. During the nine month period ended September 30, 2016, the Company added four loans to TDR status, representing one additional lending relationship, as a performing TDR. The loans added to TDR classification are paying interest only for one year while the customer attempts to sell the collateral. A summary of the activity in loans classified as TDRs for the nine month period ended September 30, 2016, is as follows: Balance New Loss or Loan Removed (Taken to) Balance at 12/31/15 TDR Foreclosure Amortization Non-accrual 09/30/16 (Dollars in Thousands) Multi-family real estate $ — 816 — — — 816 Non-residential real estate 5,536 228 — (77 ) — 5,687 Total performing TDR $ 5,536 1,044 — (77 ) — 6,503 A summary of the activity in loans classified as TDRs for the year ended December 31, 2015, is as follows: Balance at New Loss or Loan Removed (Taken to) Balance at 12/31/14 TDR Foreclosure Amortization Non-accrual 12/31/15 (Dollars in Thousands) Non-residential real estate $ 3,284 2,265 — (13 ) — 5,536 Total performing TDR $ 3,284 2,265 — (13 ) — 5,536 |
Non Performing Assets
Non Performing Assets | 9 Months Ended |
Sep. 30, 2016 | |
Text Block [Abstract] | |
Non Performing Assets | (6) NON PERFORMING ASSETS 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, 2016, December 31, 2015, and September 30, 2015, the Company had balances in other real estate and assets owned and non-accrual loans consisting of the following: September 30, 2016 December 31, 2015 September 30, 2015 (Dollars in Thousands) One-to-four family mortgages $ — 55 55 Home equity line of credit 68 — — Multi-family mortgages 141 — — Land 73 943 943 Non-residential real estate 459 738 738 Total other assets owned $ 741 1,736 1,736 Total non-accrual loans $ 11,664 7,422 7,158 Past due 90 days still accruing 1,486 Total non-performing assets $ 12,405 9,158 10,380 Non-performing assets /Average assets 1.42 % 1.02 % 1.18 % 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, 2016: Balance Activity During 2016 Reduction Gain (Loss) Balance 12/31/2015 Foreclosures Proceeds in Values on Sale 9/30/2016 (Dollars in Thousands) One-to-four family mortgages $ 55 — (43 ) — (12 ) $ — Home equity line of credit — 68 — — — 68 Multi-family real estate — 141 — — — 141 Land 943 130 (987 ) — (13 ) 73 Non-residential real estate 738 — (270 ) — (9 ) 459 Consumer — 15 (19 ) — 4 — Total $ 1,736 354 (1,319 ) — (30 ) $ 741 The following is a summary of the activity in the Company’s real estate and other assets owned for the year ended December 31, 2015: Activity During 2015 Balance Reduction Loss Balance 12/31/2014 Foreclosures Proceeds in Values on Sale 12/31/2015 (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 |
Investments in Affiliated Compa
Investments in Affiliated Companies | 9 Months Ended |
Sep. 30, 2016 | |
Financial Support for Nonconsolidated Legal Entity [Abstract] | |
Investments in Affiliated Companies | (7) INVESTMENTS IN AFFILIATED COMPANIES Investments in affiliated companies accounted for under the equity method consist of 100% of the common stock of HopFed Capital Trust 1 (“Trust”), a wholly-owned statutory business trust. The Trust was formed on September 25, 2003. Summary financial information for the Trust follows (dollars in thousands): Summary Statements of Financial Condition At At September 30, 2016 December 31, 2015 (Dollars in Thousands) 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 Periods Ended September 30, Ended September 30, 2016 2015 2016 2015 (Dollars in Thousands) Income – interest income from subordinated debentures issued by HopFed Bancorp, Inc. $ 102 87 $ 296 264 Net income $ 102 87 $ 296 264 Summary Statement of Stockholders’ Equity (For the nine month period ended September 30, 2016) (Dollars in Thousands) Trust Common Retained Total Beginning balances, December 31, 2015 $ 10,000 310 — 10,310 Net income — — 296 296 Dividends: Trust preferred securities — — (287 ) (287 ) Common paid to HopFed Bancorp, Inc. — — (9 ) (9 ) Ending balances, September 30, 2016 $ 10,000 310 — 10,310 |
Fair Value of Assets and Liabil
Fair Value of Assets and Liabilities | 9 Months Ended |
Sep. 30, 2016 | |
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 fair values of securities available for sale are determined by a matrix pricing, which is a mathematical technique that is widely used in the industry to value debt securities without exclusively using quoted prices for the individual securities in the Company’s portfolio but rather by relying on the securities relationship to other benchmark quoted securities. Impaired loans are valued at the net present value of expected payments using the fair value of any assigned collateral. The values for bank owned life insurance are obtained from stated values from the respective insurance companies. The liability associated with the Company’s derivative is obtained from a quoted value supplied by our correspondent banker. The value of real estate owned is obtained from appraisals completed on properties at the time of acquisition and annually thereafter. Assets and Liabilities Measured on a Recurring Basis The assets and liabilities measured at fair value on a recurring basis at September 30, 2016, are summarized below: Description Total carrying Quoted Prices Significant Significant (Dollars in Thousands) Assets Available for sale securities $ 213,289 2,004 209,302 1,983 The assets and liabilities measured at fair value on a recurring basis at December 31, 2015, are summarized below Description Total carrying Quoted Prices Significant Significant (Dollars in Thousands) Assets Available for sale securities $ 237,177 2,000 233,312 1,865 The assets and liabilities measured at fair value on a non-recurring basis are summarized below for September 30, 2016: Description Total carrying Quoted Prices Significant Significant (Dollars in Thousands) Assets Other real estate and other assets owned $ 741 — — $ 741 Impaired loans, net of allowance of $605 $ 4,026 — — $ 4,026 The assets and liabilities measured at fair value on a non-recurring basis are summarized below for December 31, 2015: Description Total carrying Quoted Prices Significant Significant (Dollars in Thousands) Assets Other real estate and other assets owned $ 1,736 — — $ 1,736 Impaired loans, net of allowance of $630 $ 3,319 — — $ 3,319 The table below includes a roll-forward of the consolidated condensed statement of financial condition items for the nine month periods ended September 30, 2016, and September 30, 2015, (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. 2016 2015 Nine month period ended September 30, Other Assets Other Liabilities Other Assets Other Liabilities (Dollars in Thousands) Fair value, January 1, $ 1,865 — 1,489 — Change in unrealized gain included in other comprehensive income for assets and liabilities still held at September 30, 105 — 289 — Accretion of previous discounted amounts 13 12 Purchases, issuances and settlements, net — — — — Transfers in and/or out of Level 3 — — — — Fair value, September 30, $ 1,983 — 1,790 — The estimated fair values of financial instruments were as follows at September 30, 2016: Carrying Estimated Quoted Prices Using Significant (Dollars in Thousands) Financial Assets: Cash and due from banks $ 24,741 24,741 24,741 — — Interest-earning deposits 4,695 4,695 4,695 — — Securities available for sale 213,289 213,289 2,004 209,302 1,983 Federal Home Loan Bank stock 4,428 4,428 — 4,428 — Loans held for sale 1,547 1,547 — 1,547 — Loans receivable 579,063 573,655 — — 573,655 Accrued interest receivable 3,603 3,603 — 3,603 — Financial liabilities: Deposits 712,317 712,426 130,327 582,099 — Advances from borrowers for taxes and insurance 1,111 1,111 — 1,111 — Advances from Federal Home Loan Bank 11,000 11,022 — 11,022 — Repurchase agreements 44,465 44,465 — 44,465 — Subordinated debentures 10,310 10,099 — — 10,099 The estimated fair values of financial instruments were as follows at December 31, 2015: Carrying Estimated Quoted Prices Using Significant (Dollars in Thousands) Financial Assets: Cash and due from banks $ 46,926 46,926 46,926 — — Interest-earning deposits 7,772 7,772 7,772 — — Securities available for sale 237,177 237,177 2,000 233,312 1,865 Federal Home Loan Bank stock 4,428 4,428 — 4,428 — Loans held for sale 2,792 2,792 — 2,792 — Loans receivable 556,349 552,981 — — 552,981 Accrued interest receivable 4,139 4,139 — 4,139 — Financial liabilities: Deposits 739,406 724,877 — 724,877 — Advances from borrowers for taxes and insurance 614 614 — 614 — Advances from Federal Home Loan Bank 15,000 14,985 — 14,985 — Repurchase agreements 45,770 45,931 — 45,931 — Subordinated debentures 10,310 10,099 — — 10,099 |
Effect of New Accounting Pronou
Effect of New Accounting Pronouncements | 9 Months Ended |
Sep. 30, 2016 | |
Accounting Changes and Error Corrections [Abstract] | |
Effect of New Accounting Pronouncements | (9) 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.” ASU 2015-05, “Intangibles – Goodwill and Other - Internal-Use Software (Subtopic 350-40) – Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement.” ASU 2015-15, “Interest – Imputation of Interest (Subtopic 835-30) – Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements. Amendments to SEC Paragraphs Pursuant to Staff Announcement at June 18, 2015 EITF Meeting.” In September 2015, the FASB issued Accounting Standards Update No. 2015-16 , Simplifying the Accounting for Measurement-Period Adjustments. ASU 2016-1, “No. 2016-01, Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities. (vi) requires separate presentation of financial assets and financial liabilities by measurement category and form of financial asset on the balance sheet or the accompanying notes to the financial statements and (viii) clarifies that an entity should evaluate the need for a valuation allowance on a deferred tax asset related to available-for-sale. ASU 2016-1 will be effective on January 1, 2018, and is not expected to have a significant impact on the Company’s financial statements. On June 16, 2016, the FASB released its finalized ASU 2016-13, “Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments” ASU 2016-02 Leases (Topic 842) ASU 2016-05 Derivatives and Hedging (Topic 815) Effect of Derivative Contract Novations on Existing Hedge Accounting Relationships clarifies ASU 2016-07, “Investments – Equity Method and Joint Ventures (Topic 323): Simplifying the Transition to the Equity Method of Accounting ASU 2016-09, “Compensation – Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting.” ASU 2016-15 “Statement of Cash Flows (Topic 230)” 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, 2016 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | (10) 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, 2016 | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | |
Other Assets | (11) 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, 2016, the Company’s total investment in each entity was $39,250 and $923,000, 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 ended For the nine months ended September 30, September 30, 2016 2015 2016 2015 (Dollars in Thousands) Investment loss included in pre-tax net income $ 55 55 $ 165 165 Tax credits recognized in provision for income taxes — 24 — 72 |
Esop
Esop | 9 Months Ended |
Sep. 30, 2016 | |
Text Block [Abstract] | |
Esop | (12) ESOP 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 an open-end line of credit 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 31st of each year are not eligible for participation in the ESOP. The Company anticipates that loan payments will be made at the end of each year. Participants receive shares at the end of employment. The Company has the option to repurchase the shares or provide the shares directly to the employee. The Company made its first ESOP loan payment in December 2015. In January 2016, the ESOP and Company revised the loan to the ESOP converting the loan to a closed end note with total payments of approximately $780,000 per year for a term of eleven years. At September 30, 2016, the Company’s accrued liability for the loan payment is $528,000. At September 30, 2016, shares held by the ESOP were as follows: September 30, 2016 (Dollars in Thousands, Accrued to allocation to participants 32,226 Earned ESOP shares 53,587 Unearned ESOP shares 514,187 Total ESOP shares 600,000 Fair value of unearned shares $ 5,758,894 |
Commitments and Contingencies
Commitments and Contingencies | 9 Months Ended |
Sep. 30, 2016 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | (13) COMMITMENTS AND CONTINGENCIES At September 30, 2016, certificates of deposits scheduled to mature in one year or less from September 30, 2016, totaled $135.8 million. At September 30, 2016, the Company has $32.4 million in time deposits greater than $100,000 but less than $250,000 that are schedule to mature in one year and $41.5 million in time deposits greater than $250,000 that are scheduled to mature in one year or less. Management believes that a significant percentage of such deposits will remain with the Bank. At September 30, 2016, the Company has deposit balances of $29.5 million that exceed FDIC insurance limits without additional collateral pledged. At September 30, 2016, the Company had the following off-balance sheet commitments (in thousands): Standby letters of credit $ 250 Unused home equity lines of credit $ 31,597 Unused commercial lines of credit $ 61,787 Unused unsecured personal lines of credit $ 16,256 Unfunded commitments to originate commercial loans $ 33,863 The Bank’s FHLB borrowings are secured by a blanket security agreement pledging the Bank’s 1-4 family first mortgage loans and non-residential real estate loans. At September 30, 2016, the Bank has pledged all eligible 1-4 family first mortgages. At September 30, 2016, the Bank has outstanding borrowings of $11.0 million from the FHLB. At September 30, 2016, the Bank had $49.2 million in additional borrowing capacity with the FHLB which includes an overnight line of credit of $30.0 million. The Bank has an $8 million unsecured overnight borrowing capacity from a correspondent bank. A schedule of FHLB borrowings at September 30, 2016, is provided below: Outstanding Rate Maturity (Dollars in thousands) $ 5,000 0.88 % 10/06/2017 6,000 1.18 % 07/06/2018 $ 11,000 1.04 % |
Regulatory Matters
Regulatory Matters | 9 Months Ended |
Sep. 30, 2016 | |
Banking and Thrift [Abstract] | |
Regulatory Matters | (14) 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% (unchanged from current rules); (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, 2016, 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, 2016: Company Bank Amount Percent Amount Percent (Dollars in Thousands, Except Percentages) Common equity tier 1 capital ratio Tier 1 leverage ratio $ $ 93,478 93,478 15.77 10.87 % % $ $ 92,041 92,041 15.60 10.75 % % Tier 1 risk-based capital ratio $ 93,478 15.77 % $ 92,041 15.60 % Total risk based capital ratio $ 100,290 16.92 % $ 98,853 16.76 % |
Loans (Policies)
Loans (Policies) | 9 Months Ended |
Sep. 30, 2016 | |
Accounting Changes and Error Corrections [Abstract] | |
Troubled Debt Restructuring | On a periodic basis, the Bank may modify the terms of certain loans. In evaluating whether a restructuring constitutes a troubled debt restructuring (TDR), Financial Accounting Standards Board has issued Accounting Standards Update 310 (ASU 310), A Creditor’s Determination of Whether a Restructuring is a Troubled Debt Restructuring. • 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 fair values of securities available for sale are determined by a matrix pricing, which is a mathematical technique that is widely used in the industry to value debt securities without exclusively using quoted prices for the individual securities in the Company’s portfolio but rather by relying on the securities relationship to other benchmark quoted securities. Impaired loans are valued at the net present value of expected payments using the fair value of any assigned collateral. The values for bank owned life insurance are obtained from stated values from the respective insurance companies. The liability associated with the Company’s derivative is obtained from a quoted value supplied by our correspondent banker. The value of real estate owned is obtained from appraisals completed on properties at the time of acquisition and annually thereafter. |
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.” |
Intangibles - Goodwill and Other | ASU 2015-05, “Intangibles – Goodwill and Other - Internal-Use Software (Subtopic 350-40) – Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement.” |
Interest - Imputation of Interest - Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements | ASU 2015-15, “Interest – Imputation of Interest (Subtopic 835-30) – Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements. Amendments to SEC Paragraphs Pursuant to Staff Announcement at June 18, 2015 EITF Meeting.” |
Simplifying the Accounting for Measurement-Period Adjustments | In September 2015, the FASB issued Accounting Standards Update No. 2015-16 , Simplifying the Accounting for Measurement-Period Adjustments. |
Financial Instruments | ASU 2016-1, “No. 2016-01, Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities. (vi) requires separate presentation of financial assets and financial liabilities by measurement category and form of financial asset on the balance sheet or the accompanying notes to the financial statements and (viii) clarifies that an entity should evaluate the need for a valuation allowance on a deferred tax asset related to available-for-sale. ASU 2016-1 will be effective on January 1, 2018, and is not expected to have a significant impact on the Company’s financial statements. On June 16, 2016, the FASB released its finalized ASU 2016-13, “Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments” |
Leases | ASU 2016-02 Leases (Topic 842) |
Derivatives and Hedging | ASU 2016-05 Derivatives and Hedging (Topic 815) Effect of Derivative Contract Novations on Existing Hedge Accounting Relationships clarifies |
Investments-Equity Method and Joint Ventures | ASU 2016-07, “Investments – Equity Method and Joint Ventures (Topic 323): Simplifying the Transition to the Equity Method of Accounting |
Compensation - Stock Compensation | ASU 2016-09, “Compensation – Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting.” |
Income Per Share (Tables)
Income Per Share (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
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, 2016, and September 30, 2015. For the three and nine month periods ended September 30, 2016, and September 30, 2015, the Company’s financial statements reflect a liability adequate to release 32,226 and 37,063 shares, respectively, from the HopFed Bancorp, Inc. 2015 Employee Stock Ownership Plan (the “ESOP”). Therefore, the Company has included 32,226 and 37,063 shares held by the ESOP in the IPS calculation for the three and nine month periods ended September 30, 2016, and September 30, 2015, respectively. For the three and nine month periods ended September 30, 2016, and September 30, 2015, the Company has excluded all unearned shares held by the ESOP. For the three month periods ended 2016 2015 Basic IPS: Net income $ 985,000 $ 510,000 Average common shares outstanding 6,212,231 6,359,556 Net income per share $ 0.16 $ 0.08 Diluted IPS: Net income $ 985,000 $ 510,000 Average common shares outstanding 6,212,231 6,359,556 Dilutive effect of stock options — — Average diluted shares outstanding 6,212,231 6,359,556 Net income per share, diluted $ 0.16 $ 0.08 For the nine month periods ended 2016 2015 Basic IPS: Net income $ 1,798,000 $ 1,748,000 Average common shares outstanding 6,247,536 6,493,449 Net income per share $ 0.29 $ 0.27 Diluted IPS: Net income $ 1,798,000 $ 1,748,000 Average common shares outstanding 6,247,536 6,493,449 Dilutive effect of stock options — — Average diluted shares outstanding 6,247,536 6,493,449 Net income per share, diluted $ 0.29 $ 0.27 |
Stock Compensation (Tables)
Stock Compensation (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
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, 2016: Year Ending December 31, Future 2016 $ 30,974 2017 88,200 2018 54,067 2019 9,354 2020 1,977 Total $ 184,572 |
Securities (Tables)
Securities (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
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, 2016, were as follows: September 30, 2016 Amortized Gross Gross Estimated (Dollars in Thousands) Restricted: FHLB stock $ 4,428 — — 4,428 Available for sale: U.S. Treasury securities $ 2,000 4 — 2,004 U.S. Agency securities 78,524 2,611 (55 ) 81,080 Taxable municipal bonds 2,730 53 (3 ) 2,780 Tax free municipal bonds 36,473 1,968 (11 ) 38,430 Trust preferred securities 1,630 353 — 1,983 Mortgage-backed securities: GNMA 21,462 288 (44 ) 21,706 FNMA 37,174 813 (48 ) 37,939 FHLMC 7,392 111 — 7,503 NON-AGENCY CMO 3,774 — (288 ) 3,486 AGENCY CMO 16,096 283 (1 ) 16,378 $ 207,255 6,484 (450 ) 213,289 The carrying amount of securities and their estimated fair values at December 31, 2015, was as follows: December 31, 2015 Amortized Gross Gross Estimated (Dollars in Thousands) Restricted: FHLB stock $ 4,428 — — 4,428 Available for sale: U.S. Treasury securities $ 2,001 — (1 ) 2,000 U.S. Agency securities 91,694 1,727 (488 ) 92,933 Tax free municipal bonds 42,237 2,481 (59 ) 44,659 Taxable municipal bonds 6,190 52 (65 ) 6,177 Trust preferred securities 1,617 248 — 1,865 Mortgage-backed securities: GNMA 29,990 239 (239 ) 29,990 FNMA 28,189 266 (152 ) 28,303 FHLMC 8,113 24 (51 ) 8,086 Non-Agency CMO 3,828 — (174 ) 3,654 AGENCY CMO 19,570 71 (131 ) 19,510 $ 233,429 5,108 (1,360 ) 237,177 |
Maturities of Debt Securities Available for Sale | The scheduled maturities of debt securities available for sale at September 30, 2016, were as follows (Dollars in Thousands): Amortized Estimated Due within one year $ 4,579 4,590 Due in one to five years 13,932 14,287 Due in five to ten years 32,998 34,297 Due after ten years 14,052 15,211 65,561 68,385 Amortizing agency bonds 55,796 57,892 Mortgage-backed securities 85,898 87,012 Total securities available for sale $ 207,255 213,289 The scheduled maturities of debt securities available for sale at December 31, 2015, were as follows (Dollars in Thousands): Amortized Estimated Due within one year $ — — Due in one to five years 17,939 18,304 Due in five to ten years 42,151 42,793 Due after ten years 22,702 24,088 82,792 85,185 Amortizing agency bonds 60,947 62,449 Mortgage-backed securities 89,690 89,543 Total securities available for sale $ 233,429 237,177 |
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, 2016, are as follows: Less than 12 months 12 months or longer Total Estimated Unrealized Estimated Unrealized Estimated Unrealized (Dollars in Thousands) Available for sale U.S. Agency securities $ 5,314 (13 ) 3,707 (42 ) 9,021 (55 ) Taxable municipals 554 (3 ) — — 554 (3 ) Tax free municipals 1,717 (11 ) — — 1,717 (11 ) Mortgage-backed securities: GNMA 3,458 (7 ) 4,938 (37 ) 8,396 (44 ) FNMA 7,301 (36 ) 1,887 (12 ) 9,188 (48 ) Agency CMO 1,057 (1 ) — — 1,057 (1 ) NON-AGENCY CMOs — — 3,485 (288 ) 3,485 (288 ) Total available for sale $ 19,401 (71 ) 14,017 (379 ) 33,418 (450 ) The estimated fair value and unrealized loss amounts of temporarily impaired investments as of December 31, 2015, were as follows: Less than 12 months 12 months or longer Total Estimated Unrealized Estimated Unrealized Estimated Unrealized (Dollars in Thousands) Available for sale U.S. Treasury securities U.S. Agency securities Taxable municipals $ 2,000 26,499 2,159 (1 (203 (32 ) ) ) — 16,224 1,887 — (285 (33 ) ) 2,000 42,723 4,046 (1 (488 (65 ) ) ) Tax free municipals — — 3,878 (59 ) 3,878 (59 ) Mortgage-backed securities: GNMA 10,840 (105 ) 11,508 (134 ) 22,348 (239 ) FNMA 11,484 (87 ) 3,036 (65 ) 14,520 (152 ) FHLMC 7,336 (51 ) — — 7,336 (51 ) Non-Agency CMOs — — 3,654 (174 ) 3,654 (174 ) AGENCY CMOs 9,781 (90 ) 1,991 (41 ) 11,772 (131 ) Total Available for Sale $ 70,099 (569 ) 42,178 (791 ) 112,277 (1,360 ) |
Loans (Tables)
Loans (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Receivables [Abstract] | |
Composition of Loan Portfolio By Type of Loan | At September 30, 2016, and December 31, 2015, there were no concentrations of loans exceeding 10% of total loans other than as disclosed below: September 30, 2016 September 30, 2016 December 31, 2015 December 31, 2015 (Dollars in thousands, except percentages) Real estate loans: One-to-four family (closed end) first mortgages $ 146,744 25.0 % 145,999 26.0 % Home equity lines of credit 34,563 5.9 % 33,644 6.0 % Junior liens 1,601 0.3 % 1,771 0.3 % Multi-family 32,418 5.5 % 24,725 4.4 % Construction 37,775 6.5 % 34,878 6.2 % Land 22,999 3.9 % 22,453 4.0 % Farmland 46,877 8.0 % 42,246 7.5 % Non-residential real estate 170,759 29.1 % 149,711 26.6 % Total mortgage loans 493,736 84.2 % 455,427 81.0 % Consumer loans 8,908 1.5 % 20,324 3.6 % Commercial loans 83,684 14.3 % 86,743 15.4 % Total other loans 92,592 15.8 % 107,067 19.0 % Total loans, gross 586,328 100.0 % 562,494 100.0 % Deferred loan cost, net of income (453 ) (445 ) Less allowance for loan losses (6,812 ) (5,700 ) Total loans $ 579,063 556,349 |
Non-accrual Loans | The following table indicates the type and level of non-accrual loans at the periods indicated below: September 30, 2016 December 31, 2015 September 30, 2015 (Dollars in Thousands) One-to-four family mortgages $ 700 2,234 1,427 Home equity line of credit 124 48 48 Multi-family 1,772 1,968 1,968 Land 7,842 1,553 1,680 Non-residential real estate 248 247 672 Farmland — 166 168 Consumer loans 31 8 — Commercial loans 947 1,198 1,195 Total non-accrual loans $ 11,664 7,422 7,158 |
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, 2016 (Dollars in Thousands): General Specific Ending Balance Charge off Recovery Provision Provision Balance 12/31/2015 2016 2016 2016 2016 9/30/2016 One-to-four family mortgages $ 1,030 — 164 162 (224 ) 1,132 Home equity line of credit 201 (30 ) 12 134 18 335 Junior liens 8 — 14 3 (14 ) 11 Multi-family 227 — — 68 213 508 Construction 377 — — 429 — 806 Land 1,379 — — (266 ) (69 ) 1,044 Non-residential real estate 1,139 — 6 138 (39 ) 1,244 Farmland 358 — — 657 — 1,015 Consumer loans 358 (322 ) 122 (166 ) 221 213 Commercial loans 623 (322 ) 290 (22 ) (65 ) 504 $ 5,700 (674 ) 608 1,137 41 6,812 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, 2015 (Dollars in Thousands): General Specific Ending Balance Charge off Recovery Provision Provision Balance 12/31/2014 2015 2015 2015 2015 12/31/2015 One-to-four family mortgages $ 1,198 (143 ) 39 (176 ) 112 1,030 Home equity line of credit 181 (92 ) 10 20 82 201 Junior liens 14 — 4 (6 ) (4 ) 8 Multi-family 85 — — 4 138 227 Construction 146 — — 231 — 377 Land 1,123 (911 ) — 850 317 1,379 Non-residential real estate 2,083 (222 ) 2 (944 ) 220 1,139 Farmland 461 — — 500 (603 ) 358 Consumer loans 494 (298 ) 118 (123 ) 167 358 Commercial loans 504 (201 ) 54 (61 ) 327 623 $ 6,289 (1,867 ) 227 295 756 5,700 |
Loan Balances by Loan Classification Allocated Between Past Due Performing and Non-performing | The table below presents past due and non-accrual balances at September 30, 2016, by loan classification allocated between performing and non-performing: 30 - 89 Impaired Loans Currently Days Non-accrual Special Currently Performing Performing Past Due Loans Mention Substandard Doubtful Total (Dollars in Thousands) One-to-four family mortgages 144,121 466 700 753 704 — 146,744 Home equity line of credit 33,970 53 124 25 391 — 34,563 Junior liens 1,552 5 — 32 12 — 1,601 Multi-family 27,623 — 1,772 — 3,023 — 32,418 Construction 37,775 — — — — — 37,775 Land 14,562 — 7,842 37 558 — 22,999 Farmland 44,040 26 — 505 2,306 — 46,877 Non-residential real estate 160,096 — 248 5 10,410 — 170,759 Consumer loans 8,603 2 31 — 272 — 8,908 Commercial loans 79,450 34 947 666 2,587 — 83,684 Total 551,792 586 11,664 2,023 20,263 — 586,328 The table below presents past due and non-accrual balances at December 31, 2015, by loan classification allocated between performing and non-performing (Dollars in Thousands): 30 - 89 Impaired Loans Currently Days Non-accrual Special Currently Performing Performing Past Due Loans Mention Substandard Doubtful Total One-to-four family mortgages $ 142,058 671 2,234 41 995 — $ 145,999 Home equity line of credit 33,396 79 48 — 121 — 33,644 Junior liens 1,720 — — 35 16 — 1,771 Multi-family 21,638 6 1,968 — 1,113 — 24,725 Construction 34,878 — — — — — 34,878 Land 11,047 747 1,553 41 9,065 — 22,453 Non-residential real estate 138,637 228 247 2,489 8,110 — 149,711 Farmland 41,853 64 166 — 163 — 42,246 Consumer loans 20,108 15 8 — 193 — 20,324 Commercial loans 84,272 45 1,198 352 876 — 86,743 Total $ 529,607 1,855 7,422 2,958 20,652 — 562,494 |
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, 2016, and December 31, 2015, by portfolio segment and based on the impairment method as of September 30, 2016, and December 31, 2015. Land Development / Commercial Residential Commercial Construction Real Estate Real Estate Consumer Total September 30, 2016: Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ 83 — 452 — 70 $ 605 Collectively evaluated for impairment 421 1,850 2,315 1,478 143 6,207 Total ending allowance balance $ 504 1,850 2,767 1,478 213 $ 6,812 Loans: Loans individually evaluated for impairment $ 3,534 8,400 17,759 1,931 303 $ 31,927 Loans collectively evaluated for impairment 80,150 52,374 232,295 180,977 8,605 554,401 Total ending loans balance $ 83,684 60,774 250,054 182,908 8,908 586,328 Land Development / Commercial Residential Commercial Construction Real Estate Real Estate Consumer Total (Dollars in Thousands) December 31, 2015: Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ 180 69 272 60 49 $ 630 Collectively evaluated for impairment 443 1,687 1,452 1,179 309 5,070 Total ending allowance balance $ 623 1,756 1,724 1,239 358 $ 5,700 Loans: Loans individually evaluated for impairment $ 2,074 10,618 11,767 3,414 201 $ 28,074 Loans collectively evaluated for impairment 84,669 46,713 204,915 178,000 20,123 534,420 Total ending loans balance $ 86,743 57,331 216,682 181,414 20,324 $ 562,494 |
Summary of Company's Impaired Loans, Including Respective Regulatory Classification and Respective Specific Reserve | A summary of the Company’s impaired loans, including their respective regulatory classification and their respective specific reserve at September 30, 2016, and December 31, 2015, were as follows: Special Impaired Loans Specific Allowance for Loans not September 30, 2016 Pass Mention Substandard Doubtful Total Impairment Impaired (Dollars in Thousands) One-to-four family mortgages $ 144,587 753 1,404 — 146,744 — 1,132 Home equity line of credit 34,023 25 515 — 34,563 — 335 Junior liens 1,557 32 12 — 1,601 — 11 Multi-family 27,623 — 4,795 — 32,418 351 157 Construction 37,775 — — — 37,775 — 806 Land 14,562 37 8,400 — 22,999 — 1,044 Non-residential real estate 160,096 5 10,658 — 170,759 101 1,143 Farmland 44,066 505 2,306 — 46,877 — 1,015 Consumer loans 8,605 — 303 — 8,908 70 143 Commercial loans 79,484 666 3,534 — 83,684 83 421 Total $ 552,378 2,023 31,927 — 586,328 605 6,207 Special Impaired Loans Specific Allowance for Loans not December 31, 2015 Pass Mention Substandard Doubtful Total Impairment Impaired (Dollars in Thousands) One-to-four family mortgages $ 142,729 41 3,229 — 145,999 60 970 Home equity line of credit 33,475 — 169 — 33,644 — 201 Junior lien 1,720 35 16 — 1,771 — 8 Multi-family 21,644 — 3,081 — 24,725 138 89 Construction 34,878 — — — 34,878 — 377 Land 11,794 41 10,618 — 22,453 69 1,310 Non-residential real estate 138,865 2,489 8,357 — 149,711 134 1,005 Farmland 41,917 — 329 — 42,246 — 358 Consumer loans 20,123 — 201 — 20,324 49 309 Commercial loans 84,317 352 2,074 — 86,743 180 443 Total $ 531,462 2,958 28,074 — 562,494 630 5,070 |
Impaired Loans by Classification Type | Impaired loans by classification type and the related valuation allowance amounts at September 30, 2016, were as follows: At September 30, 2016 For the nine month period ended Recorded Unpaid Related Average Interest (Dollars in Thousands) Impaired loans with no specific allowance: One-to-four family mortgages $ 1,404 1,404 — 1,627 53 Home equity line of credit 515 515 — 257 14 Junior liens 12 12 — 13 1 Multi-family 2,085 2,085 — 3,920 47 Construction — — — — — Land 8,400 9,357 — 11,012 512 Farmland 2,306 2,306 — 913 84 Non-residential real estate 9,951 9,951 — 8,850 336 Consumer loans 24 24 — 37 2 Commercial loans 2,599 2,599 — 4,444 119 Total 27,296 28,253 — 31,073 1,168 Impaired loans with a specific allowance: One-to-four family mortgages — — — 786 — Home equity line of credit — — — — — Junior liens — — — — — Multi-family 2,710 2,781 351 310 105 Construction — — — — — Land — — — 191 — Farmland — — — — — Non-residential real estate 707 707 101 712 22 Consumer loans 279 279 70 227 — Commercial loans 935 935 83 950 49 Total 4,631 4,702 605 3,176 176 Total impaired loans $ 31,927 32,955 605 34,249 1,344 Impaired loans by classification type and the related valuation allowance amounts at December 31, 2015, were as follows: At December 31, 2015 For the year ended Recorded Unpaid Related Average Interest (Dollars in Thousands) Impaired loans with no specific allowance One-to-four family mortgages $ 2,526 2,526 — 2,389 80 Home equity line of credit 169 169 — 457 7 Junior liens 16 16 — 17 1 Multi-family 2,128 2,128 — 2,797 126 Construction — — — — — Land 10,038 10,998 — 8,520 671 Non-residential real estate 7,640 7,640 — 283 404 Farmland 329 329 — 7,774 19 Consumer loans 5 5 — 3 — Commercial loans 1,274 1,274 — 1,599 73 Total 24,125 25,085 — 23,839 1,381 Impaired loans with a specific allowance One-to-four family mortgages $ 703 703 60 709 40 Home equity line of credit — — — — — Junior liens — — — — — Multi-family 953 953 138 318 17 Construction — — — — — Land 580 580 69 1,707 46 Non-residential real estate 717 717 134 836 28 Farmland — — — — — Consumer loans 196 196 49 194 — Commercial loans 800 800 180 514 15 Total 3,949 3,949 630 4,278 146 Total impaired loans $ 28,074 29,034 630 28,117 1,527 |
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, 2016, is as follows: Balance New Loss or Loan Removed (Taken to) Balance at 12/31/15 TDR Foreclosure Amortization Non-accrual 09/30/16 (Dollars in Thousands) Multi-family real estate $ — 816 — — — 816 Non-residential real estate 5,536 228 — (77 ) — 5,687 Total performing TDR $ 5,536 1,044 — (77 ) — 6,503 A summary of the activity in loans classified as TDRs for the year ended December 31, 2015, is as follows: Balance at New Loss or Loan Removed (Taken to) Balance at 12/31/14 TDR Foreclosure Amortization Non-accrual 12/31/15 (Dollars in Thousands) Non-residential real estate $ 3,284 2,265 — (13 ) — 5,536 Total performing TDR $ 3,284 2,265 — (13 ) — 5,536 |
Non Performing Assets (Tables)
Non Performing Assets (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Text Block [Abstract] | |
Presentation of Balances in Other Real Estate and Assets Owned and Non-Accrual Loans Consisting Other Non-Performing Loan | At September 30, 2016, December 31, 2015, and September 30, 2015, the Company had balances in other real estate and assets owned and non-accrual loans consisting of the following: September 30, 2016 December 31, 2015 September 30, 2015 (Dollars in Thousands) One-to-four family mortgages $ — 55 55 Home equity line of credit 68 — — Multi-family mortgages 141 — — Land 73 943 943 Non-residential real estate 459 738 738 Total other assets owned $ 741 1,736 1,736 Total non-accrual loans $ 11,664 7,422 7,158 Past due 90 days still accruing 1,486 Total non-performing assets $ 12,405 9,158 10,380 Non-performing assets /Average assets 1.42 % 1.02 % 1.18 % |
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, 2016: Balance Activity During 2016 Reduction Gain (Loss) Balance 12/31/2015 Foreclosures Proceeds in Values on Sale 9/30/2016 (Dollars in Thousands) One-to-four family mortgages $ 55 — (43 ) — (12 ) $ — Home equity line of credit — 68 — — — 68 Multi-family real estate — 141 — — — 141 Land 943 130 (987 ) — (13 ) 73 Non-residential real estate 738 — (270 ) — (9 ) 459 Consumer — 15 (19 ) — 4 — Total $ 1,736 354 (1,319 ) — (30 ) $ 741 The following is a summary of the activity in the Company’s real estate and other assets owned for the year ended December 31, 2015: Activity During 2015 Balance Reduction Loss Balance 12/31/2014 Foreclosures Proceeds in Values on Sale 12/31/2015 (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 |
Investments in Affiliated Com29
Investments in Affiliated Companies (Tables) - Equity Method Investments [Member] | 9 Months Ended |
Sep. 30, 2016 | |
Summary Statements of Financial Condition | Summary Statements of Financial Condition At At September 30, 2016 December 31, 2015 (Dollars in Thousands) 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 Periods Ended September 30, Ended September 30, 2016 2015 2016 2015 (Dollars in Thousands) Income – interest income from subordinated debentures issued by HopFed Bancorp, Inc. $ 102 87 $ 296 264 Net income $ 102 87 $ 296 264 |
Summary Statement of Stockholders' Equity | Summary Statement of Stockholders’ Equity (For the nine month period ended September 30, 2016) (Dollars in Thousands) Trust Common Retained Total Beginning balances, December 31, 2015 $ 10,000 310 — 10,310 Net income — — 296 296 Dividends: Trust preferred securities — — (287 ) (287 ) Common paid to HopFed Bancorp, Inc. — — (9 ) (9 ) Ending balances, September 30, 2016 $ 10,000 310 — 10,310 |
Fair Value of Assets and Liab30
Fair Value of Assets and Liabilities (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
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, 2016, are summarized below: Description Total carrying Quoted Prices Significant Significant (Dollars in Thousands) Assets Available for sale securities $ 213,289 2,004 209,302 1,983 The assets and liabilities measured at fair value on a recurring basis at December 31, 2015, are summarized below Description Total carrying Quoted Prices Significant Significant (Dollars in Thousands) Assets Available for sale securities $ 237,177 2,000 233,312 1,865 |
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, 2016: Description Total carrying Quoted Prices Significant Significant (Dollars in Thousands) Assets Other real estate and other assets owned $ 741 — — $ 741 Impaired loans, net of allowance of $605 $ 4,026 — — $ 4,026 The assets and liabilities measured at fair value on a non-recurring basis are summarized below for December 31, 2015: Description Total carrying Quoted Prices Significant Significant (Dollars in Thousands) Assets Other real estate and other assets owned $ 1,736 — — $ 1,736 Impaired loans, net of allowance of $630 $ 3,319 — — $ 3,319 |
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, 2016, and September 30, 2015, (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. 2016 2015 Nine month period ended September 30, Other Assets Other Liabilities Other Assets Other Liabilities (Dollars in Thousands) Fair value, January 1, $ 1,865 — 1,489 — Change in unrealized gain included in other comprehensive income for assets and liabilities still held at September 30, 105 — 289 — Accretion of previous discounted amounts 13 12 Purchases, issuances and settlements, net — — — — Transfers in and/or out of Level 3 — — — — Fair value, September 30, $ 1,983 — 1,790 — |
Estimated Fair Values of Financial Instruments | The estimated fair values of financial instruments were as follows at September 30, 2016: Carrying Estimated Quoted Prices Using Significant (Dollars in Thousands) Financial Assets: Cash and due from banks $ 24,741 24,741 24,741 — — Interest-earning deposits 4,695 4,695 4,695 — — Securities available for sale 213,289 213,289 2,004 209,302 1,983 Federal Home Loan Bank stock 4,428 4,428 — 4,428 — Loans held for sale 1,547 1,547 — 1,547 — Loans receivable 579,063 573,655 — — 573,655 Accrued interest receivable 3,603 3,603 — 3,603 — Financial liabilities: Deposits 712,317 712,426 130,327 582,099 — Advances from borrowers for taxes and insurance 1,111 1,111 — 1,111 — Advances from Federal Home Loan Bank 11,000 11,022 — 11,022 — Repurchase agreements 44,465 44,465 — 44,465 — Subordinated debentures 10,310 10,099 — — 10,099 The estimated fair values of financial instruments were as follows at December 31, 2015: Carrying Estimated Quoted Prices Using Significant (Dollars in Thousands) Financial Assets: Cash and due from banks $ 46,926 46,926 46,926 — — Interest-earning deposits 7,772 7,772 7,772 — — Securities available for sale 237,177 237,177 2,000 233,312 1,865 Federal Home Loan Bank stock 4,428 4,428 — 4,428 — Loans held for sale 2,792 2,792 — 2,792 — Loans receivable 556,349 552,981 — — 552,981 Accrued interest receivable 4,139 4,139 — 4,139 — Financial liabilities: Deposits 739,406 724,877 — 724,877 — Advances from borrowers for taxes and insurance 614 614 — 614 — Advances from Federal Home Loan Bank 15,000 14,985 — 14,985 — Repurchase agreements 45,770 45,931 — 45,931 — Subordinated debentures 10,310 10,099 — — 10,099 |
Other Assets (Tables)
Other Assets (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
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 ended For the nine months ended September 30, September 30, 2016 2015 2016 2015 (Dollars in Thousands) Investment loss included in pre-tax net income $ 55 55 $ 165 165 Tax credits recognized in provision for income taxes — 24 — 72 |
Esop (Tables)
Esop (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Text Block [Abstract] | |
Summary of Shares Held by Employee Stock Ownership Plan (ESOP) | At September 30, 2016, shares held by the ESOP were as follows: September 30, 2016 (Dollars in Thousands, Accrued to allocation to participants 32,226 Earned ESOP shares 53,587 Unearned ESOP shares 514,187 Total ESOP shares 600,000 Fair value of unearned shares $ 5,758,894 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Commitments and Contingencies Disclosure [Abstract] | |
Summary of Off-balance Sheet Commitments | At September 30, 2016, the Company had the following off-balance sheet commitments (in thousands): Standby letters of credit $ 250 Unused home equity lines of credit $ 31,597 Unused commercial lines of credit $ 61,787 Unused unsecured personal lines of credit $ 16,256 Unfunded commitments to originate commercial loans $ 33,863 |
Schedule of FHLB Borrowings | A schedule of FHLB borrowings at September 30, 2016, is provided below: Outstanding Rate Maturity (Dollars in thousands) $ 5,000 0.88 % 10/06/2017 6,000 1.18 % 07/06/2018 $ 11,000 1.04 % |
Regulatory Matters (Tables)
Regulatory Matters (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
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, 2016: Company Bank Amount Percent Amount Percent (Dollars in Thousands, Except Percentages) Common equity tier 1 capital ratio Tier 1 leverage ratio $ $ 93,478 93,478 15.77 10.87 % % $ $ 92,041 92,041 15.60 10.75 % % Tier 1 risk-based capital ratio $ 93,478 15.77 % $ 92,041 15.60 % Total risk based capital ratio $ 100,290 16.92 % $ 98,853 16.76 % |
Income Per Share - Additional I
Income Per Share - Additional Information (Detail) - shares | Sep. 30, 2016 | Sep. 30, 2015 |
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 | 32,226 | 37,063 |
Income Per Share - Reconciliati
Income Per Share - Reconciliation of Basic and Diluted Income (Loss) Per Share (Detail) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Basic IPS: | ||||
Net income | $ 985,000 | $ 510,000 | $ 1,798,000 | $ 1,748,000 |
Average common shares outstanding | 6,212,231 | 6,359,556 | 6,247,536 | 6,493,449 |
Net income per share | $ 0.16 | $ 0.08 | $ 0.29 | $ 0.27 |
Diluted IPS: | ||||
Net income | $ 985,000 | $ 510,000 | $ 1,798,000 | $ 1,748,000 |
Average common shares outstanding | 6,212,231 | 6,359,556 | 6,247,536 | 6,493,449 |
Dilutive effect of stock options | 0 | 0 | 0 | 0 |
Average diluted shares outstanding | 6,212,231 | 6,359,556 | 6,247,536 | 6,493,449 |
Net income per share, diluted | $ 0.16 | $ 0.08 | $ 0.29 | $ 0.27 |
Stock Compensation - Additional
Stock Compensation - Additional Information (Detail) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
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 | $ 27,000 | $ 46,000 | $ 105,000 | $ 144,000 |
Restricted Stock [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Shares of restricted stock issued | 856 | 1,263 | 12,342 | 2,034 |
Stock Compensation - Company's
Stock Compensation - Company's Future Compensation Expense Related to Restricted Stock Vesting (Detail) | Sep. 30, 2016USD ($) |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
2,016 | $ 30,974 |
2,017 | 88,200 |
2,018 | 54,067 |
2,019 | 9,354 |
2,020 | 1,977 |
Total | $ 184,572 |
Securities - Additional Informa
Securities - Additional Information (Detail) $ in Millions | Sep. 30, 2016USD ($)Securities |
Investments, Debt and Equity Securities [Abstract] | |
Number of securities with unrealized losses | Securities | 24 |
Securities pledged to municipalities for deposits in excess of FDIC limits, book value | $ 118 |
Securities pledged to municipalities for deposits in excess of FDIC limits, market value | 123.7 |
Securities with market value sold under agreements to repurchase from various customers | 44.5 |
Securities with book value sold under agreements to repurchase from various customers | $ 44.5 |
Securities - Amortized Cost of
Securities - Amortized Cost of Securities and their Estimated Fair Values (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Schedule of Available-for-sale Securities [Line Items] | ||
FHLB stock | $ 4,428 | $ 4,428 |
FHLB stock | 4,428 | 4,428 |
Amortized Cost | 207,255 | 233,429 |
Gross Unrealized Gains | 6,484 | 5,108 |
Gross Unrealized Losses | (450) | (1,360) |
Estimated Fair Value | 213,289 | 237,177 |
Estimated Fair Value, Less than 12 months | 19,401 | 70,099 |
Unrealized Losses, Less than 12 months | (71) | (569) |
Estimated Fair Value, 12 months or longer | 14,017 | 42,178 |
Unrealized Losses, 12 months or longer | (379) | (791) |
Estimated Fair Value | 33,418 | 112,277 |
Unrealized Losses | (450) | (1,360) |
U.S. Agency Securities [Member] | Temporarily Impaired Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Estimated Fair Value, Less than 12 months | 5,314 | |
Unrealized Losses, Less than 12 months | (13) | |
Estimated Fair Value, 12 months or longer | 3,707 | |
Unrealized Losses, 12 months or longer | (42) | |
Estimated Fair Value | 9,021 | |
Unrealized Losses | (55) | |
U.S. Treasury Securities [Member] | Available for Sale Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 2,000 | 2,001 |
Gross Unrealized Gains | 4 | |
Gross Unrealized Losses | (1) | |
Estimated Fair Value | 2,004 | 2,000 |
U.S. Treasury 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 | 2,000 | |
Unrealized Losses, Less than 12 months | (1) | |
Estimated Fair Value | 2,000 | |
Unrealized Losses | (1) | |
U.S. Agency Debt Securities [Member] | Available for Sale Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 78,524 | 91,694 |
Gross Unrealized Gains | 2,611 | 1,727 |
Gross Unrealized Losses | (55) | (488) |
Estimated Fair Value | 81,080 | 92,933 |
Taxable Municipals Bonds [Member] | Available for Sale Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 2,730 | 6,190 |
Gross Unrealized Gains | 53 | 52 |
Gross Unrealized Losses | (3) | (65) |
Estimated Fair Value | 2,780 | 6,177 |
Taxable Municipals Bonds [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 | 554 | 2,159 |
Unrealized Losses, Less than 12 months | (3) | (32) |
Estimated Fair Value, 12 months or longer | 1,887 | |
Unrealized Losses, 12 months or longer | (33) | |
Estimated Fair Value | 554 | 4,046 |
Unrealized Losses | (3) | (65) |
Tax Free Municipals Bonds [Member] | Available for Sale Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 36,473 | 42,237 |
Gross Unrealized Gains | 1,968 | 2,481 |
Gross Unrealized Losses | (11) | (59) |
Estimated Fair Value | 38,430 | 44,659 |
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, Less than 12 months | 1,717 | |
Unrealized Losses, Less than 12 months | (11) | |
Estimated Fair Value, 12 months or longer | 3,878 | |
Unrealized Losses, 12 months or longer | (59) | |
Estimated Fair Value | 1,717 | 3,878 |
Unrealized Losses | (11) | (59) |
Trust Preferred Securities [Member] | Available for Sale Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 1,630 | 1,617 |
Gross Unrealized Gains | 353 | 248 |
Estimated Fair Value | 1,983 | 1,865 |
GNMA [Member] | Mortgage-Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 21,462 | 29,990 |
Gross Unrealized Gains | 288 | 239 |
Gross Unrealized Losses | (44) | (239) |
Estimated Fair Value | 21,706 | 29,990 |
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 | 3,458 | 10,840 |
Unrealized Losses, Less than 12 months | (7) | (105) |
Estimated Fair Value, 12 months or longer | 4,938 | 11,508 |
Unrealized Losses, 12 months or longer | (37) | (134) |
Estimated Fair Value | 8,396 | 22,348 |
Unrealized Losses | (44) | (239) |
FNMA [Member] | Mortgage-Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 37,174 | 28,189 |
Gross Unrealized Gains | 813 | 266 |
Gross Unrealized Losses | (48) | (152) |
Estimated Fair Value | 37,939 | 28,303 |
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 | 7,301 | 11,484 |
Unrealized Losses, Less than 12 months | (36) | (87) |
Estimated Fair Value, 12 months or longer | 1,887 | 3,036 |
Unrealized Losses, 12 months or longer | (12) | (65) |
Estimated Fair Value | 9,188 | 14,520 |
Unrealized Losses | (48) | (152) |
FHLMC [Member] | Mortgage-Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 7,392 | 8,113 |
Gross Unrealized Gains | 111 | 24 |
Gross Unrealized Losses | (51) | |
Estimated Fair Value | 7,503 | 8,086 |
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 | 7,336 | |
Unrealized Losses, Less than 12 months | (51) | |
Estimated Fair Value | 7,336 | |
Unrealized Losses | (51) | |
Non-Agency CMO [Member] | Mortgage-Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 3,774 | 3,828 |
Gross Unrealized Losses | (288) | (174) |
Estimated Fair Value | 3,486 | 3,654 |
Non-Agency CMO [Member] | Mortgage-Backed Securities [Member] | Temporarily Impaired Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Estimated Fair Value, 12 months or longer | 3,485 | 3,654 |
Unrealized Losses, 12 months or longer | (288) | (174) |
Estimated Fair Value | 3,485 | 3,654 |
Unrealized Losses | (288) | (174) |
Agency CMO [Member] | Mortgage-Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 16,096 | 19,570 |
Gross Unrealized Gains | 283 | 71 |
Gross Unrealized Losses | (1) | (131) |
Estimated Fair Value | 16,378 | 19,510 |
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 | 1,057 | 9,781 |
Unrealized Losses, Less than 12 months | (1) | (90) |
Estimated Fair Value, 12 months or longer | 1,991 | |
Unrealized Losses, 12 months or longer | (41) | |
Estimated Fair Value | 1,057 | 11,772 |
Unrealized Losses | $ (1) | (131) |
U.S. Agency 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 | 26,499 | |
Unrealized Losses, Less than 12 months | (203) | |
Estimated Fair Value, 12 months or longer | 16,224 | |
Unrealized Losses, 12 months or longer | (285) | |
Estimated Fair Value | 42,723 | |
Unrealized Losses | $ (488) |
Securities - Maturities of Debt
Securities - Maturities of Debt Securities Available for Sale (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized cost of debt securities available for sale, due within one year | $ 4,579 | |
Amortized cost of debt securities available for sale, due in one to five years | 13,932 | $ 17,939 |
Amortized cost of debt securities available for sale, due in five to ten years | 32,998 | 42,151 |
Amortized cost of debt securities available for sale, due after ten years | 14,052 | 22,702 |
Total amortized cost debt securities available for sale with specific maturities | 65,561 | 82,792 |
Amortized Cost | 207,255 | 233,429 |
Estimated fair value of debt securities available for sale, due within one year | 4,590 | |
Estimated fair value of debt securities available for sale, due in one to five years | 14,287 | 18,304 |
Estimated fair value of debt securities available for sale, due in five to ten years | 34,297 | 42,793 |
Estimated fair value of debt securities available for sale, due after ten years | 15,211 | 24,088 |
Total estimated fair value of debt securities available for sale with specific maturities | 68,385 | 85,185 |
Total securities available for sale at estimated fair value | 213,289 | 237,177 |
Mortgage-Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total amortized cost of debt securities available for sale without specific maturities | 85,898 | 89,690 |
Total estimated fair value of debt securities available for sale without specific maturities | 87,012 | 89,543 |
Amortizing Agency Bonds [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total amortized cost of debt securities available for sale without specific maturities | 55,796 | 60,947 |
Total estimated fair value of debt securities available for sale without specific maturities | $ 57,892 | $ 62,449 |
Loans - Additional Information
Loans - Additional Information (Detail) | Dec. 31, 2015USD ($)LoansSecurityLoan | Sep. 30, 2016USD ($)LoansSecurityLoan | Sep. 30, 2015USD ($) | Dec. 31, 2015USD ($)Loans |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Concentrations of loans exceeding 10% of total loans | Loans | 0 | 0 | 0 | |
Allowance for loan losses | $ 5,700,000 | $ 6,812,000 | $ 5,500,000 | $ 5,700,000 |
Ratio of the allowance for loan losses to total loans | 1.16% | 0.97% | 1.01% | |
Total loans past due more than 90 days and still accruing interest | $ 0 | $ 0 | $ 1,486,000 | $ 0 |
Company's annualized net charge off (net recovery) ratios | 0.02% | 0.37% | 0.29% | |
Ratios of allowance for loan losses to non-accrual loans | 76.80% | 58.40% | 76.70% | 76.80% |
Annual reviews of loan to ascertain the borrowers continued ability to service | $ 1,000,000 | |||
Loans past due period for classify to risk grade | 90 days | |||
Total impaired loans Recorded Investment | $ 28,074,000 | $ 31,927,000 | $ 23,500,000 | $ 28,074,000 |
Reserve on impaired loans | $ 630,000 | $ 605,000 | $ 545,000 | $ 630,000 |
Number of additional TDRs | SecurityLoan | 8 | 4 | ||
Number of lending relationships | SecurityLoan | 2 | 1 | ||
Maximum interest payment period under TDRs | 1 year | |||
Federal Home Loan Bank of Cincinnati [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Letters of credit | $ 45,600,000 |
Loans - Composition of Loan Por
Loans - Composition of Loan Portfolio By Type of Loan (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 | Sep. 30, 2015 |
Real estate loans: | |||
Total loans, gross | $ 586,328 | $ 562,494 | |
Deferred loan cost, net of income | (453) | (445) | |
Less allowance for loan losses | (6,812) | (5,700) | $ (5,500) |
Total loans | $ 579,063 | $ 556,349 | |
Loans and Leases Receivable in Percentage | 100.00% | 100.00% | |
Multi-Family [Member] | |||
Real estate loans: | |||
Total loans, gross | $ 32,418 | $ 24,725 | |
Real Estate Loans [Member] | |||
Real estate loans: | |||
Loans and Leases Receivable in Percentage | 84.20% | 81.00% | |
Real Estate Loans [Member] | Multi-Family [Member] | |||
Real estate loans: | |||
Loans and Leases Receivable in Percentage | 5.50% | 4.40% | |
Consumer Loans [Member] | |||
Real estate loans: | |||
Total loans, gross | $ 8,908 | $ 20,324 | |
Less allowance for loan losses | $ (213) | $ (358) | |
Loans and Leases Receivable in Percentage | 1.50% | 3.60% | |
Commercial Loans [Member] | |||
Real estate loans: | |||
Total loans, gross | $ 83,684 | $ 86,743 | |
Less allowance for loan losses | $ (504) | $ (623) | |
Loans and Leases Receivable in Percentage | 14.30% | 15.40% | |
Total Other Loans [Member] | |||
Real estate loans: | |||
Loans and Leases Receivable in Percentage | 15.80% | 19.00% | |
One-to-Four Family Mortgages [Member] | |||
Real estate loans: | |||
Total loans, gross | $ 146,744 | $ 145,999 | |
One-to-Four Family Mortgages [Member] | Real Estate Loans [Member] | |||
Real estate loans: | |||
Loans and Leases Receivable in Percentage | 25.00% | 26.00% | |
Home Equity Line of Credit [Member] | |||
Real estate loans: | |||
Total loans, gross | $ 34,563 | $ 33,644 | |
Home Equity Line of Credit [Member] | Real Estate Loans [Member] | |||
Real estate loans: | |||
Loans and Leases Receivable in Percentage | 5.90% | 6.00% | |
Construction [Member] | |||
Real estate loans: | |||
Total loans, gross | $ 37,775 | $ 34,878 | |
Construction [Member] | Real Estate Loans [Member] | |||
Real estate loans: | |||
Loans and Leases Receivable in Percentage | 6.50% | 6.20% | |
Land [Member] | |||
Real estate loans: | |||
Total loans, gross | $ 22,999 | $ 22,453 | |
Land [Member] | Real Estate Loans [Member] | |||
Real estate loans: | |||
Loans and Leases Receivable in Percentage | 3.90% | 4.00% | |
Farmland [Member] | |||
Real estate loans: | |||
Total loans, gross | $ 46,877 | $ 42,246 | |
Farmland [Member] | Real Estate Loans [Member] | |||
Real estate loans: | |||
Loans and Leases Receivable in Percentage | 8.00% | 7.50% | |
Non-Residential Real Estate [Member] | |||
Real estate loans: | |||
Total loans, gross | $ 170,759 | $ 149,711 | |
Non-Residential Real Estate [Member] | Real Estate Loans [Member] | |||
Real estate loans: | |||
Loans and Leases Receivable in Percentage | 29.10% | 26.60% | |
Real Estate Loans [Member] | |||
Real estate loans: | |||
Total loans, gross | $ 493,736 | $ 455,427 | |
Real Estate Loans [Member] | Multi-Family [Member] | |||
Real estate loans: | |||
Total loans, gross | 32,418 | 24,725 | |
Real Estate Loans [Member] | One-to-Four Family Mortgages [Member] | |||
Real estate loans: | |||
Total loans, gross | 146,744 | 145,999 | |
Real Estate Loans [Member] | Home Equity Line of Credit [Member] | |||
Real estate loans: | |||
Total loans, gross | 34,563 | 33,644 | |
Real Estate Loans [Member] | Construction [Member] | |||
Real estate loans: | |||
Total loans, gross | 37,775 | 34,878 | |
Real Estate Loans [Member] | Land [Member] | |||
Real estate loans: | |||
Total loans, gross | 22,999 | 22,453 | |
Real Estate Loans [Member] | Farmland [Member] | |||
Real estate loans: | |||
Total loans, gross | 46,877 | 42,246 | |
Real Estate Loans [Member] | Non-Residential Real Estate [Member] | |||
Real estate loans: | |||
Total loans, gross | 170,759 | 149,711 | |
Total Other Loans [Member] | |||
Real estate loans: | |||
Total loans, gross | 92,592 | 107,067 | |
Total Other Loans [Member] | Consumer Loans [Member] | |||
Real estate loans: | |||
Total loans, gross | 8,908 | 20,324 | |
Total Other Loans [Member] | Commercial Loans [Member] | |||
Real estate loans: | |||
Total loans, gross | 83,684 | 86,743 | |
Junior Liens [Member] | |||
Real estate loans: | |||
Total loans, gross | $ 1,601 | $ 1,771 | |
Junior Liens [Member] | Real Estate Loans [Member] | |||
Real estate loans: | |||
Loans and Leases Receivable in Percentage | 0.30% | 0.30% | |
Junior Liens [Member] | Real Estate Loans [Member] | |||
Real estate loans: | |||
Total loans, gross | $ 1,601 | $ 1,771 |
Loans - Non-Accrual Loans (Deta
Loans - Non-Accrual Loans (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 | Sep. 30, 2015 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total non-accrual loans | $ 11,664 | $ 7,422 | $ 7,158 |
Multi-Family [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total non-accrual loans | 1,772 | 1,968 | 1,968 |
One-to-Four Family Mortgages [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total non-accrual loans | 700 | 2,234 | 1,427 |
Home Equity Line of Credit [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total non-accrual loans | 124 | 48 | 48 |
Land [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total non-accrual loans | 7,842 | 1,553 | 1,680 |
Non-Residential Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total non-accrual loans | 248 | 247 | 672 |
Farmland [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total non-accrual loans | 166 | 168 | |
Consumer Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total non-accrual loans | 31 | 8 | |
Commercial Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Total non-accrual loans | $ 947 | $ 1,198 | $ 1,195 |
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, 2016 | Sep. 30, 2015 | Dec. 31, 2015 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning balance | $ 5,700 | $ 6,289 | $ 6,289 |
Charge off | (674) | (1,744) | (1,867) |
Recovery | 608 | 227 | |
General Provision | 1,137 | 295 | |
Specific Provision | 41 | 756 | |
Ending balance | 6,812 | 5,700 | |
Multi-Family [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning balance | 227 | 85 | 85 |
General Provision | 68 | 4 | |
Specific Provision | 213 | 138 | |
Ending balance | 508 | 227 | |
One-to-Four Family Mortgages [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning balance | 1,030 | 1,198 | 1,198 |
Charge off | (143) | ||
Recovery | 164 | 39 | |
General Provision | 162 | (176) | |
Specific Provision | (224) | 112 | |
Ending balance | 1,132 | 1,030 | |
Home Equity Line of Credit [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning balance | 201 | 181 | 181 |
Charge off | (30) | (92) | |
Recovery | 12 | 10 | |
General Provision | 134 | 20 | |
Specific Provision | 18 | 82 | |
Ending balance | 335 | 201 | |
Construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning balance | 377 | 146 | 146 |
General Provision | 429 | 231 | |
Ending balance | 806 | 377 | |
Land [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning balance | 1,379 | 1,123 | 1,123 |
Charge off | (911) | ||
General Provision | (266) | 850 | |
Specific Provision | (69) | 317 | |
Ending balance | 1,044 | 1,379 | |
Non-Residential Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning balance | 1,139 | 2,083 | 2,083 |
Charge off | (222) | ||
Recovery | 6 | 2 | |
General Provision | 138 | (944) | |
Specific Provision | (39) | 220 | |
Ending balance | 1,244 | 1,139 | |
Farmland [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning balance | 358 | 461 | 461 |
General Provision | 657 | 500 | |
Specific Provision | (603) | ||
Ending balance | 1,015 | 358 | |
Junior Liens [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning balance | 8 | 14 | 14 |
Recovery | 14 | 4 | |
General Provision | 3 | (6) | |
Specific Provision | (14) | (4) | |
Ending balance | 11 | 8 | |
Consumer Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning balance | 358 | 494 | 494 |
Charge off | (322) | (298) | |
Recovery | 122 | 118 | |
General Provision | (166) | (123) | |
Specific Provision | 221 | 167 | |
Ending balance | 213 | 358 | |
Commercial Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning balance | 623 | $ 504 | 504 |
Charge off | (322) | (201) | |
Recovery | 290 | 54 | |
General Provision | (22) | (61) | |
Specific Provision | (65) | 327 | |
Ending balance | $ 504 | $ 623 |
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, 2016 | Dec. 31, 2015 | Sep. 30, 2015 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Currently Performing | $ 551,792 | $ 529,607 | |
30 - 89 Days Past Due | 586 | 1,855 | |
Non-accrual Loans | 11,664 | 7,422 | $ 7,158 |
Special Mention | 2,023 | 2,958 | |
Impaired Loans Currently Performing Substandard | 20,263 | 20,652 | |
Impaired Loans Currently Performing Doubtful | 0 | 0 | |
Total loans, gross | 586,328 | 562,494 | |
Multi-Family [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Currently Performing | 27,623 | 21,638 | |
30 - 89 Days Past Due | 6 | ||
Non-accrual Loans | 1,772 | 1,968 | 1,968 |
Impaired Loans Currently Performing Substandard | 3,023 | 1,113 | |
Impaired Loans Currently Performing Doubtful | 0 | 0 | |
Total loans, gross | 32,418 | 24,725 | |
One-to-Four Family Mortgages [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Currently Performing | 144,121 | 142,058 | |
30 - 89 Days Past Due | 466 | 671 | |
Non-accrual Loans | 700 | 2,234 | 1,427 |
Special Mention | 753 | 41 | |
Impaired Loans Currently Performing Substandard | 704 | 995 | |
Impaired Loans Currently Performing Doubtful | 0 | 0 | |
Total loans, gross | 146,744 | 145,999 | |
Home Equity Line of Credit [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Currently Performing | 33,970 | 33,396 | |
30 - 89 Days Past Due | 53 | 79 | |
Non-accrual Loans | 124 | 48 | 48 |
Special Mention | 25 | ||
Impaired Loans Currently Performing Substandard | 391 | 121 | |
Impaired Loans Currently Performing Doubtful | 0 | 0 | |
Total loans, gross | 34,563 | 33,644 | |
Construction [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Currently Performing | 37,775 | 34,878 | |
Impaired Loans Currently Performing Doubtful | 0 | 0 | |
Total loans, gross | 37,775 | 34,878 | |
Land [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Currently Performing | 14,562 | 11,047 | |
30 - 89 Days Past Due | 747 | ||
Non-accrual Loans | 7,842 | 1,553 | 1,680 |
Special Mention | 37 | 41 | |
Impaired Loans Currently Performing Substandard | 558 | 9,065 | |
Impaired Loans Currently Performing Doubtful | 0 | 0 | |
Total loans, gross | 22,999 | 22,453 | |
Farmland [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Currently Performing | 44,040 | 41,853 | |
30 - 89 Days Past Due | 26 | 64 | |
Non-accrual Loans | 166 | 168 | |
Special Mention | 505 | ||
Impaired Loans Currently Performing Substandard | 2,306 | 163 | |
Impaired Loans Currently Performing Doubtful | 0 | 0 | |
Total loans, gross | 46,877 | 42,246 | |
Non-Residential Real Estate [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Currently Performing | 160,096 | 138,637 | |
30 - 89 Days Past Due | 228 | ||
Non-accrual Loans | 248 | 247 | 672 |
Special Mention | 5 | 2,489 | |
Impaired Loans Currently Performing Substandard | 10,410 | 8,110 | |
Impaired Loans Currently Performing Doubtful | 0 | 0 | |
Total loans, gross | 170,759 | 149,711 | |
Junior Liens [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Currently Performing | 1,552 | 1,720 | |
30 - 89 Days Past Due | 5 | ||
Special Mention | 32 | 35 | |
Impaired Loans Currently Performing Substandard | 12 | 16 | |
Impaired Loans Currently Performing Doubtful | 0 | 0 | |
Total loans, gross | 1,601 | 1,771 | |
Consumer Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Currently Performing | 8,603 | 20,108 | |
30 - 89 Days Past Due | 2 | 15 | |
Non-accrual Loans | 31 | 8 | |
Impaired Loans Currently Performing Substandard | 272 | 193 | |
Impaired Loans Currently Performing Doubtful | 0 | 0 | |
Total loans, gross | 8,908 | 20,324 | |
Commercial Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Currently Performing | 79,450 | 84,272 | |
30 - 89 Days Past Due | 34 | 45 | |
Non-accrual Loans | 947 | 1,198 | $ 1,195 |
Special Mention | 666 | 352 | |
Impaired Loans Currently Performing Substandard | 2,587 | 876 | |
Impaired Loans Currently Performing Doubtful | 0 | 0 | |
Total loans, gross | $ 83,684 | $ 86,743 |
Loans - Allowance for Loan Lo47
Loans - Allowance for Loan Losses and Recorded Investment in Loans by Portfolio Segment and Impairment Method (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 | Sep. 30, 2015 |
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Individually evaluated for impairment | $ 605 | $ 630 | |
Collectively evaluated for impairment | 6,207 | 5,070 | |
Total ending allowance balance | 6,812 | 5,700 | $ 5,500 |
Loans individually evaluated for impairment | 31,927 | 28,074 | |
Loans collectively evaluated for impairment | 554,401 | 534,420 | |
Total ending loans balance | 586,328 | 562,494 | |
Commercial Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Individually evaluated for impairment | 83 | 180 | |
Collectively evaluated for impairment | 421 | 443 | |
Total ending allowance balance | 504 | 623 | |
Loans individually evaluated for impairment | 3,534 | 2,074 | |
Loans collectively evaluated for impairment | 80,150 | 84,669 | |
Total ending loans balance | 83,684 | 86,743 | |
Land Development/Construction [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Individually evaluated for impairment | 69 | ||
Collectively evaluated for impairment | 1,850 | 1,687 | |
Total ending allowance balance | 1,850 | 1,756 | |
Loans individually evaluated for impairment | 8,400 | 10,618 | |
Loans collectively evaluated for impairment | 52,374 | 46,713 | |
Total ending loans balance | 60,774 | 57,331 | |
Commercial Real Estate [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Individually evaluated for impairment | 452 | 272 | |
Collectively evaluated for impairment | 2,315 | 1,452 | |
Total ending allowance balance | 2,767 | 1,724 | |
Loans individually evaluated for impairment | 17,759 | 11,767 | |
Loans collectively evaluated for impairment | 232,295 | 204,915 | |
Total ending loans balance | 250,054 | 216,682 | |
Residential Real Estate [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Individually evaluated for impairment | 60 | ||
Collectively evaluated for impairment | 1,478 | 1,179 | |
Total ending allowance balance | 1,478 | 1,239 | |
Loans individually evaluated for impairment | 1,931 | 3,414 | |
Loans collectively evaluated for impairment | 180,977 | 178,000 | |
Total ending loans balance | 182,908 | 181,414 | |
Consumer Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Individually evaluated for impairment | 70 | 49 | |
Collectively evaluated for impairment | 143 | 309 | |
Total ending allowance balance | 213 | 358 | |
Loans individually evaluated for impairment | 303 | 201 | |
Loans collectively evaluated for impairment | 8,605 | 20,123 | |
Total ending loans balance | $ 8,908 | $ 20,324 |
Loans - Summary of Company's Im
Loans - Summary of Company's Impaired Loans, Including Respective Regulatory Classification and Respective Specific Reserve (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 | Sep. 30, 2015 |
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Total | $ 586,328 | $ 562,494 | |
Specific Allowance for Impairment | 605 | 630 | $ 545 |
Allowance for Performing Loans | 6,207 | 5,070 | |
Multi-Family [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Total | 32,418 | 24,725 | |
Specific Allowance for Impairment | 351 | 138 | |
Allowance for Performing Loans | 157 | 89 | |
One-to-Four Family Mortgages [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Total | 146,744 | 145,999 | |
Specific Allowance for Impairment | 60 | ||
Allowance for Performing Loans | 1,132 | 970 | |
Home Equity Line of Credit [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Total | 34,563 | 33,644 | |
Allowance for Performing Loans | 335 | 201 | |
Construction [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Total | 37,775 | 34,878 | |
Allowance for Performing Loans | 806 | 377 | |
Land [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Total | 22,999 | 22,453 | |
Specific Allowance for Impairment | 69 | ||
Allowance for Performing Loans | 1,044 | 1,310 | |
Non-Residential Real Estate [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Total | 170,759 | 149,711 | |
Specific Allowance for Impairment | 101 | 134 | |
Allowance for Performing Loans | 1,143 | 1,005 | |
Farmland [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Total | 46,877 | 42,246 | |
Allowance for Performing Loans | 1,015 | 358 | |
Junior Liens [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Total | 1,601 | 1,771 | |
Allowance for Performing Loans | 11 | 8 | |
Consumer Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Total | 8,908 | 20,324 | |
Specific Allowance for Impairment | 70 | 49 | |
Allowance for Performing Loans | 143 | 309 | |
Commercial Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Total | 83,684 | 86,743 | |
Specific Allowance for Impairment | 83 | 180 | |
Allowance for Performing Loans | 421 | 443 | |
Pass [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Total | 552,378 | 531,462 | |
Pass [Member] | Multi-Family [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Total | 27,623 | 21,644 | |
Pass [Member] | One-to-Four Family Mortgages [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Total | 144,587 | 142,729 | |
Pass [Member] | Home Equity Line of Credit [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Total | 34,023 | 33,475 | |
Pass [Member] | Construction [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Total | 37,775 | 34,878 | |
Pass [Member] | Land [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Total | 14,562 | 11,794 | |
Pass [Member] | Non-Residential Real Estate [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Total | 160,096 | 138,865 | |
Pass [Member] | Farmland [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Total | 44,066 | 41,917 | |
Pass [Member] | Junior Liens [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Total | 1,557 | 1,720 | |
Pass [Member] | Consumer Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Total | 8,605 | 20,123 | |
Pass [Member] | Commercial Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Total | 79,484 | 84,317 | |
Special Mention [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Total | 2,023 | 2,958 | |
Special Mention [Member] | One-to-Four Family Mortgages [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Total | 753 | 41 | |
Special Mention [Member] | Home Equity Line of Credit [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Total | 25 | ||
Special Mention [Member] | Land [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Total | 37 | 41 | |
Special Mention [Member] | Non-Residential Real Estate [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Total | 5 | 2,489 | |
Special Mention [Member] | Farmland [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Total | 505 | ||
Special Mention [Member] | Junior Liens [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Total | 32 | 35 | |
Special Mention [Member] | Commercial Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Total | 666 | 352 | |
Impaired Loans Substandard [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Total | 31,927 | 28,074 | |
Impaired Loans Substandard [Member] | Multi-Family [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Total | 4,795 | 3,081 | |
Impaired Loans Substandard [Member] | One-to-Four Family Mortgages [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Total | 1,404 | 3,229 | |
Impaired Loans Substandard [Member] | Home Equity Line of Credit [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Total | 515 | 169 | |
Impaired Loans Substandard [Member] | Land [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Total | 8,400 | 10,618 | |
Impaired Loans Substandard [Member] | Non-Residential Real Estate [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Total | 10,658 | 8,357 | |
Impaired Loans Substandard [Member] | Farmland [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Total | 2,306 | 329 | |
Impaired Loans Substandard [Member] | Junior Liens [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Total | 12 | 16 | |
Impaired Loans Substandard [Member] | Consumer Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Total | 303 | 201 | |
Impaired Loans Substandard [Member] | Commercial Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Total | $ 3,534 | $ 2,074 |
Loans - Impaired Loans by Class
Loans - Impaired Loans by Classification Type (Detail) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | |
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment | $ 27,296 | $ 24,125 | |
Total impaired loans Recorded Investment | 31,927 | 28,074 | $ 23,500 |
Unpaid Principal Balance | 28,253 | 25,085 | |
Total impaired loans Unpaid Principal Balance | 32,955 | 29,034 | |
Related Allowance | 0 | 0 | |
Average Recorded Investment | 31,073 | 23,839 | |
Interest Income Recognized | 1,168 | 1,381 | |
Recorded Investment | 4,631 | 3,949 | |
Unpaid Principal Balance | 4,702 | 3,949 | |
Related Allowance | 605 | 630 | $ 545 |
Average Recorded Investment | 3,176 | 4,278 | |
Total impaired loans Average Recorded Investment | 34,249 | 28,117 | |
Interest Income Recognized | 176 | 146 | |
Total impaired loans Interest Income Recognized | 1,344 | 1,527 | |
Multi-Family [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment | 2,085 | 2,128 | |
Unpaid Principal Balance | 2,085 | 2,128 | |
Related Allowance | 0 | 0 | |
Average Recorded Investment | 3,920 | 2,797 | |
Interest Income Recognized | 47 | 126 | |
Recorded Investment | 2,710 | 953 | |
Unpaid Principal Balance | 2,781 | 953 | |
Related Allowance | 351 | 138 | |
Average Recorded Investment | 310 | 318 | |
Interest Income Recognized | 105 | 17 | |
One-to-Four Family Mortgages [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment | 1,404 | 2,526 | |
Unpaid Principal Balance | 1,404 | 2,526 | |
Related Allowance | 0 | 0 | |
Average Recorded Investment | 1,627 | 2,389 | |
Interest Income Recognized | 53 | 80 | |
Recorded Investment | 703 | ||
Unpaid Principal Balance | 703 | ||
Related Allowance | 60 | ||
Average Recorded Investment | 786 | 709 | |
Interest Income Recognized | 40 | ||
Home Equity Line of Credit [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment | 515 | 169 | |
Unpaid Principal Balance | 515 | 169 | |
Related Allowance | 0 | 0 | |
Average Recorded Investment | 257 | 457 | |
Interest Income Recognized | 14 | 7 | |
Construction [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Related Allowance | 0 | 0 | |
Land [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment | 8,400 | 10,038 | |
Unpaid Principal Balance | 9,357 | 10,998 | |
Related Allowance | 0 | 0 | |
Average Recorded Investment | 11,012 | 8,520 | |
Interest Income Recognized | 512 | 671 | |
Recorded Investment | 580 | ||
Unpaid Principal Balance | 580 | ||
Related Allowance | 69 | ||
Average Recorded Investment | 191 | 1,707 | |
Interest Income Recognized | 46 | ||
Non-Residential Real Estate [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment | 2,306 | 7,640 | |
Unpaid Principal Balance | 2,306 | 7,640 | |
Related Allowance | 0 | 0 | |
Average Recorded Investment | 913 | 283 | |
Interest Income Recognized | 84 | 404 | |
Recorded Investment | 707 | 717 | |
Unpaid Principal Balance | 707 | 717 | |
Related Allowance | 101 | 134 | |
Average Recorded Investment | 712 | 836 | |
Interest Income Recognized | 22 | 28 | |
Farmland [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment | 9,951 | 329 | |
Unpaid Principal Balance | 9,951 | 329 | |
Related Allowance | 0 | 0 | |
Average Recorded Investment | 8,850 | 7,774 | |
Interest Income Recognized | 336 | 19 | |
Junior Liens [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment | 12 | 16 | |
Unpaid Principal Balance | 12 | 16 | |
Related Allowance | 0 | 0 | |
Average Recorded Investment | 13 | 17 | |
Interest Income Recognized | 1 | 1 | |
Consumer Loans [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment | 24 | 5 | |
Unpaid Principal Balance | 24 | 5 | |
Related Allowance | 0 | 0 | |
Average Recorded Investment | 37 | 3 | |
Interest Income Recognized | 2 | ||
Recorded Investment | 279 | 196 | |
Unpaid Principal Balance | 279 | 196 | |
Related Allowance | 70 | 49 | |
Average Recorded Investment | 227 | 194 | |
Commercial Loans [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment | 2,599 | 1,274 | |
Unpaid Principal Balance | 2,599 | 1,274 | |
Related Allowance | 0 | 0 | |
Average Recorded Investment | 4,444 | 1,599 | |
Interest Income Recognized | 119 | 73 | |
Recorded Investment | 935 | 800 | |
Unpaid Principal Balance | 935 | 800 | |
Related Allowance | 83 | 180 | |
Average Recorded Investment | 950 | 514 | |
Interest Income Recognized | $ 49 | $ 15 |
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, 2016 | Dec. 31, 2015 | |
Financing Receivable, Modifications [Line Items] | ||
Beginning Balance | $ 5,536 | $ 3,284 |
New TDR | 1,044 | 2,265 |
Loss or Foreclosure | 0 | 0 |
Loan Amortization | (77) | (13) |
Removed from (Taken to) Non-accrual | 0 | 0 |
Ending Balance | 6,503 | 5,536 |
Multi-Family [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
New TDR | 816 | |
Loss or Foreclosure | 0 | |
Removed from (Taken to) Non-accrual | 0 | |
Ending Balance | 816 | |
Non-Residential Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Beginning Balance | 5,536 | 3,284 |
New TDR | 228 | 2,265 |
Loss or Foreclosure | 0 | 0 |
Loan Amortization | (77) | (13) |
Removed from (Taken to) Non-accrual | 0 | 0 |
Ending Balance | $ 5,687 | $ 5,536 |
Non Performing Assets - Additio
Non Performing Assets - Additional Information (Detail) | 9 Months Ended |
Sep. 30, 2016USD ($) | |
Banking and Thrift, Interest [Abstract] | |
Minimum book balance for appraisal on all real estate owned | $ 250,000 |
Non Performing Assets - Present
Non Performing Assets - Presentation of Balances in Other Real Estate and Other Assets Owned and Non-Accrual Loans Consisting Other Non-Performing Loan (Detail) - USD ($) | Sep. 30, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Dec. 31, 2014 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Total other assets owned | $ 741,000 | $ 1,736,000 | $ 1,736,000 | $ 1,927,000 |
Total non-accrual loans | 11,664,000 | 7,422,000 | 7,158,000 | |
Past due 90 days still accruing | 0 | 0 | 1,486,000 | |
Total non-performing assets | $ 12,405,000 | $ 9,158,000 | $ 10,380,000 | |
Non-performing assets /Average assets | 1.42% | 1.02% | 1.18% | |
Multi-Family [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Total other assets owned | $ 141,000 | |||
Total non-accrual loans | 1,772,000 | $ 1,968,000 | $ 1,968,000 | |
One-to-Four Family Mortgages [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Total other assets owned | 55,000 | 55,000 | 159,000 | |
Total non-accrual loans | 700,000 | 2,234,000 | 1,427,000 | |
Home Equity Line of Credit [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Total other assets owned | 68,000 | |||
Total non-accrual loans | 124,000 | 48,000 | 48,000 | |
Land [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Total other assets owned | 73,000 | 943,000 | 943,000 | $ 1,768,000 |
Total non-accrual loans | 7,842,000 | 1,553,000 | 1,680,000 | |
Non-Residential Real Estate [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Total other assets owned | 459,000 | 738,000 | 738,000 | |
Total non-accrual loans | $ 248,000 | $ 247,000 | $ 672,000 |
Non Performing Assets - Summary
Non Performing Assets - Summary of Activity in Company's Real Estate and Other Assets Owned (Detail) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2016 | Dec. 31, 2015 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Beginning balance | $ 1,736 | $ 1,927 |
Foreclosures | 354 | 843 |
Proceeds/Sales | (1,319) | (318) |
Reduction in Values | 0 | 0 |
Gain (Loss) on Sale | (30) | (716) |
Ending balance | 741 | 1,736 |
Multi-Family [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Foreclosures | 141 | |
Reduction in Values | 0 | |
Ending balance | 141 | |
One-to-Four Family Mortgages [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Beginning balance | 55 | 159 |
Foreclosures | 105 | |
Proceeds/Sales | (43) | (194) |
Reduction in Values | 0 | 0 |
Gain (Loss) on Sale | (12) | (15) |
Ending balance | 55 | |
Home Equity Line of Credit [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Foreclosures | 68 | |
Reduction in Values | 0 | |
Ending balance | 68 | |
Land [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Beginning balance | 943 | 1,768 |
Foreclosures | 130 | |
Proceeds/Sales | (987) | (124) |
Reduction in Values | 0 | 0 |
Gain (Loss) on Sale | (13) | (701) |
Ending balance | 73 | 943 |
Non-Residential Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Beginning balance | 738 | |
Foreclosures | 738 | |
Proceeds/Sales | (270) | |
Reduction in Values | 0 | 0 |
Gain (Loss) on Sale | (9) | |
Ending balance | 459 | $ 738 |
Consumer [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Foreclosures | 15 | |
Proceeds/Sales | (19) | |
Reduction in Values | 0 | |
Gain (Loss) on Sale | $ 4 |
Investments in Affiliated Com54
Investments in Affiliated Companies - Additional Information (Detail) | Sep. 30, 2016 |
HopFed Capital Trust [Member] | Majority-Owned Subsidiary, Unconsolidated [Member] | |
Percent of common stock of HopFed Bancorp, Inc. | 100.00% |
Investments in Affiliated Com55
Investments in Affiliated Companies - Summary Balance Sheets (Detail) - Majority-Owned Subsidiary, Unconsolidated [Member] - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
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 Com56
Investments in Affiliated Companies - Summary Balance Sheets (Parenthetical) (Detail) | Sep. 30, 2016 | Dec. 31, 2015 |
Majority-Owned Subsidiary, Unconsolidated [Member] | Common Stock [Member] | ||
Percent of common stock of HopFed Bancorp, Inc. | 100.00% | 100.00% |
Investments in Affiliated Com57
Investments in Affiliated Companies - Summary Statement of Income (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Schedule of Equity Method Investments [Line Items] | ||||
Income - interest income from subordinated debentures issued by HopFed Bancorp, Inc. | $ 8,004 | $ 8,012 | $ 23,776 | $ 25,126 |
Majority-Owned Subsidiary, Unconsolidated [Member] | ||||
Schedule of Equity Method Investments [Line Items] | ||||
Income - interest income from subordinated debentures issued by HopFed Bancorp, Inc. | 102 | 87 | 296 | 264 |
Net income | $ 102 | $ 87 | $ 296 | $ 264 |
Investments in Affiliated Com58
Investments in Affiliated Companies - Summary Statements of Stockholders' Equity (Detail) - Majority-Owned Subsidiary, Unconsolidated [Member] - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Schedule of Equity Method Investments [Line Items] | ||||
Beginning balances | $ 10,310 | |||
Net income | $ 102 | $ 87 | 296 | $ 264 |
Dividends: | ||||
Trust preferred securities | (287) | |||
Common paid to HopFed Bancorp, Inc. | (9) | |||
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 | 296 | |||
Dividends: | ||||
Trust preferred securities | (287) | |||
Common paid to HopFed Bancorp, Inc. | $ (9) |
Fair Value of Assets and Liab59
Fair Value of Assets and Liabilities - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Assets | ||
Available for sale securities | $ 213,289 | $ 237,177 |
Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Available for sale securities | 213,289 | 237,177 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Assets | ||
Available for sale securities | 2,004 | 2,000 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Available for sale securities | 2,004 | 2,000 |
Significant Other Observable Inputs (Level 2) [Member] | ||
Assets | ||
Available for sale securities | 209,302 | 233,312 |
Significant Other Observable Inputs (Level 2) [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Available for sale securities | 209,302 | 233,312 |
Significant Unobservable Inputs (Level 3) [Member] | ||
Assets | ||
Available for sale securities | 1,983 | 1,865 |
Significant Unobservable Inputs (Level 3) [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Available for sale securities | $ 1,983 | $ 1,865 |
Fair Value of Assets and Liab60
Fair Value of Assets and Liabilities - Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Assets | ||
Other real estate and other assets owned | $ 741 | $ 1,736 |
Fair Value, Measurements, Nonrecurring [Member] | ||
Assets | ||
Other real estate and other assets owned | 741 | 1,736 |
Impaired loans, net of allowance | 4,026 | 3,319 |
Significant Unobservable Inputs (Level 3) [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Assets | ||
Other real estate and other assets owned | 741 | 1,736 |
Impaired loans, net of allowance | $ 4,026 | $ 3,319 |
Fair Value of Assets and Liab61
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, 2016 | Dec. 31, 2015 | Sep. 30, 2015 |
Fair Value Assets And Liabilities Measured On Nonrecurring Basis [Line Items] | |||
Allowance for impaired loans | $ 605 | $ 630 | $ 545 |
Fair Value, Measurements, Nonrecurring [Member] | |||
Fair Value Assets And Liabilities Measured On Nonrecurring Basis [Line Items] | |||
Allowance for impaired loans | $ 605 | $ 630 |
Fair Value of Assets and Liab62
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, 2016 | Sep. 30, 2015 | |
Other Assets [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Fair value, Beginning balance | $ 1,865 | $ 1,489 |
Change in unrealized gain included in other comprehensive income for assets and liabilities still held at September 30, | 105 | 289 |
Accretion of previous discounted amounts | 13 | 12 |
Purchases, issuances and settlements, net | 0 | 0 |
Transfers in and/or out of Level 3 | 0 | 0 |
Fair value, Ending balance | 1,983 | 1,790 |
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 Liab63
Fair Value of Assets and Liabilities - Estimated Fair Values of Financial Instruments (Detail) - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Financial Assets: | ||
Securities available for sale | $ 213,289 | $ 237,177 |
Financial liabilities: | ||
Repurchase agreements | 44,500 | |
Amortized Cost [Member] | ||
Financial Assets: | ||
Cash and due from banks | 24,741 | 46,926 |
Interest-earning deposits | 4,695 | 7,772 |
Securities available for sale | 213,289 | 237,177 |
Federal Home Loan Bank stock | 4,428 | 4,428 |
Loans held for sale | 1,547 | 2,792 |
Loans receivable | 579,063 | 556,349 |
Accrued interest receivable | 3,603 | 4,139 |
Financial liabilities: | ||
Deposits | 712,317 | 739,406 |
Advances from borrowers for taxes and insurance | 1,111 | 614 |
Advances from Federal Home Loan Bank | 11,000 | 15,000 |
Repurchase agreements | 44,465 | 45,770 |
Subordinated debentures | 10,310 | 10,310 |
Estimated Fair Value [Member] | ||
Financial Assets: | ||
Cash and due from banks | 24,741 | 46,926 |
Interest-earning deposits | 4,695 | 7,772 |
Securities available for sale | 213,289 | 237,177 |
Federal Home Loan Bank stock | 4,428 | 4,428 |
Loans held for sale | 1,547 | 2,792 |
Loans receivable | 573,655 | 552,981 |
Accrued interest receivable | 3,603 | 4,139 |
Financial liabilities: | ||
Deposits | 712,426 | 724,877 |
Advances from borrowers for taxes and insurance | 1,111 | 614 |
Advances from Federal Home Loan Bank | 11,022 | 14,985 |
Repurchase agreements | 44,465 | 45,931 |
Subordinated debentures | 10,099 | 10,099 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Financial Assets: | ||
Cash and due from banks | 24,741 | 46,926 |
Interest-earning deposits | 4,695 | 7,772 |
Securities available for sale | 2,004 | 2,000 |
Financial liabilities: | ||
Deposits | 130,327 | |
Significant Other Observable Inputs (Level 2) [Member] | ||
Financial Assets: | ||
Securities available for sale | 209,302 | 233,312 |
Federal Home Loan Bank stock | 4,428 | 4,428 |
Loans held for sale | 1,547 | 2,792 |
Accrued interest receivable | 3,603 | 4,139 |
Financial liabilities: | ||
Deposits | 582,099 | 724,877 |
Advances from borrowers for taxes and insurance | 1,111 | 614 |
Advances from Federal Home Loan Bank | 11,022 | 14,985 |
Repurchase agreements | 44,465 | 45,931 |
Significant Unobservable Inputs (Level 3) [Member] | ||
Financial Assets: | ||
Securities available for sale | 1,983 | 1,865 |
Loans receivable | 573,655 | 552,981 |
Financial liabilities: | ||
Subordinated debentures | $ 10,099 | $ 10,099 |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) | 9 Months Ended |
Sep. 30, 2016USD ($) | |
Income Tax Benefit [Line Items] | |
Unrecognized tax benefits | $ 0 |
Effective tax rate | 34.00% |
Tennessee [Member] | |
Income Tax Benefit [Line Items] | |
Effective tax rate | 6.50% |
Other Assets - Additional Infor
Other Assets - Additional Information (Detail) | Sep. 30, 2016USD ($)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 | 39,250 |
Other Assets [Member] | Investment Two [Member] | |
Net Investment Income [Line Items] | |
Investment in each entity | $ 923,000 |
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, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Investment Income, Net [Abstract] | ||||
Investment loss included in pre-tax net income | $ 55 | $ 55 | $ 165 | $ 165 |
Tax credits recognized in provision for income taxes | $ 24 | $ 72 |
Esop - Additional Information (
Esop - Additional Information (Detail) - USD ($) | 1 Months Ended | 9 Months Ended |
Jan. 31, 2016 | Sep. 30, 2016 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||
ESOP shares | 600,000 | |
ESOP common stock, per share | $ 13.14 | |
ESOP borrowed | $ 7,900,000 | |
ESOP payment amount | $ 780,000 | |
ESOP term of loan | 11 years | |
Accrued ESOP contribution liability | $ 528,000 |
Esop - Summary of Shares Held b
Esop - Summary of Shares Held by Employee Stock Ownership Plan (ESOP) (Detail) | Sep. 30, 2016USD ($)shares |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Accrued to allocation to participants | 32,226 |
Earned ESOP shares | 53,587 |
Unearned ESOP shares | 514,187 |
Total ESOP shares | 600,000 |
Fair value of unearned shares | $ | $ 5,758,894 |
Commitments and Contingencies -
Commitments and Contingencies - Additional Information (Detail) - USD ($) | Sep. 30, 2016 | Dec. 31, 2015 |
Loss Contingencies [Line Items] | ||
Time deposits | $ 300,701,000 | $ 314,664,000 |
Cash balance at bank not insured by FDIC | 29,500,000 | |
Outstanding borrowings | 11,000,000 | $ 15,000,000 |
FHLB [Member] | ||
Loss Contingencies [Line Items] | ||
Additional borrowing capacity | 49,200,000 | |
Overnight Line Of Credit [Member] | FHLB [Member] | ||
Loss Contingencies [Line Items] | ||
Overnight line of credit | 30,000,000 | |
Unsecured Overnight Facility [Member] | ||
Loss Contingencies [Line Items] | ||
Unsecured overnight borrowing capacity | 8,000,000 | |
One Year Or Less [Member] | ||
Loss Contingencies [Line Items] | ||
Certificates of deposits | 135,800,000 | |
Time deposits | 41,500,000 | |
One Year Or Less [Member] | Minimum [Member] | ||
Loss Contingencies [Line Items] | ||
Certificates of deposits | 250,000 | |
One Year [Member] | ||
Loss Contingencies [Line Items] | ||
Time deposits | 32,400,000 | |
One Year [Member] | Minimum [Member] | ||
Loss Contingencies [Line Items] | ||
Certificates of deposits | 100,000 | |
One Year [Member] | Maximum [Member] | ||
Loss Contingencies [Line Items] | ||
Certificates of deposits | $ 250,000 |
Commitments and Contingencies70
Commitments and Contingencies - Summary of Off-balance Sheet Commitments (Detail) $ in Thousands | Sep. 30, 2016USD ($) |
Standby Letters of Credit [Member] | |
Loss Contingencies [Line Items] | |
Line of credit | $ 250 |
Unused Home Equity Lines of Credit [Member] | |
Loss Contingencies [Line Items] | |
Line of credit | 31,597 |
Unused Commercial Lines of Credit [Member] | |
Loss Contingencies [Line Items] | |
Line of credit | 61,787 |
Unused Unsecured Personal Lines of Credit [Member] | |
Loss Contingencies [Line Items] | |
Line of credit | 16,256 |
Unfunded Commitments to Originate Commercial Loans [Member] | |
Loss Contingencies [Line Items] | |
Line of credit | $ 33,863 |
Commitments and Contingencies71
Commitments and Contingencies - Schedule of FHLB Borrowings (Detail) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2016 | Dec. 31, 2015 | |
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ||
Outstanding Balance | $ 11,000 | $ 15,000 |
Rate | 1.04% | |
October 6, 2017 [Member] | ||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ||
Outstanding Balance | $ 5,000 | |
Rate | 0.88% | |
Maturity | Oct. 6, 2017 | |
July 6, 2018 [Member] | ||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ||
Outstanding Balance | $ 6,000 | |
Rate | 1.18% | |
Maturity | Jul. 6, 2018 |
Regulatory Matters - Additional
Regulatory Matters - Additional Information (Detail) - USD ($) | 1 Months Ended | 9 Months Ended | |
Jan. 31, 2016 | Sep. 30, 2016 | 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 | 8.50% | 6.00% | 4.00% |
Total risk based capital ratio | 10.50% | 8.00% | |
Tier 1 leverage ratio | 4.00% | ||
Capital conservation buffer ratio | 2.50% | ||
Common equity Tier 1 risk-based capital ratio | 7.00% | ||
Minimum capital conservation buffer | 0.625% | ||
Total assets | $ 15,000,000,000 | ||
Common equity tier 1 capital assets | 250,000,000,000 | ||
Bank [Member] | |||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | |||
Total assets | $ 10,000,000,000 |
Regulatory Matters - Schedule o
Regulatory Matters - Schedule of Company's and Bank's Capital Compliance (Detail) $ in Thousands | 9 Months Ended |
Sep. 30, 2016USD ($) | |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | |
Common equity tier 1 capital ratio | $ 93,478 |
Tier 1 leverage ratio | 93,478 |
Tier 1 risk-based capital ratio | 93,478 |
Total risk based capital ratio | $ 100,290 |
Common equity tier 1 capital ratio | 15.77% |
Tier 1 leverage ratio | 10.87% |
Tier 1 risk-based capital ratio | 15.77% |
Total risk based capital ratio | 16.92% |
Bank [Member] | |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | |
Common equity tier 1 capital ratio | $ 92,041 |
Tier 1 leverage ratio | 92,041 |
Tier 1 risk-based capital ratio | 92,041 |
Total risk based capital ratio | $ 98,853 |
Common equity tier 1 capital ratio | 15.60% |
Tier 1 leverage ratio | 10.75% |
Tier 1 risk-based capital ratio | 15.60% |
Total risk based capital ratio | 16.76% |