Document and Entity Information
Document and Entity Information - shares | 3 Months Ended | |
Mar. 31, 2017 | May 05, 2017 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Mar. 31, 2017 | |
Document Fiscal Year Focus | 2,017 | |
Document Fiscal Period Focus | Q1 | |
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 | 6,717,247 |
Consolidated Condensed Statemen
Consolidated Condensed Statements of Financial Condition - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Assets | ||
Cash and due from banks | $ 30,663 | $ 21,779 |
Interest-bearing deposits in banks | 19,408 | 3,970 |
Cash and cash equivalents | 50,071 | 25,749 |
Federal Home Loan Bank stock, at cost | 4,428 | 4,428 |
Securities available for sale | 207,580 | 209,480 |
Loans held for sale | 1,091 | 1,094 |
Loans receivable, net of allowance for loan losses of $6,164 at March 31, 2017, and $6,112 at December 31, 2016 | 615,480 | 604,286 |
Accrued interest receivable | 3,121 | 3,799 |
Foreclosed assets, net | 2,111 | 2,397 |
Bank owned life insurance | 10,120 | 10,662 |
Premises and equipment, net | 23,225 | 23,461 |
Deferred tax assets | 2,918 | 3,052 |
Other assets | 3,162 | 3,078 |
Total assets | 923,307 | 891,486 |
Deposits: | ||
Non-interest-bearing accounts | 136,333 | 131,145 |
Interest-bearing accounts | ||
Interest bearing checking accounts | 217,562 | 209,347 |
Savings and money market accounts | 100,009 | 99,312 |
Other time deposits | 311,839 | 293,078 |
Total deposits | 765,743 | 732,882 |
Advances from Federal Home Loan Bank | 11,000 | 11,000 |
Repurchase agreements | 45,492 | 47,655 |
Subordinated debentures | 10,310 | 10,310 |
Advances from borrowers for taxes and insurance | 867 | 766 |
Accrued expenses and other liabilities | 2,434 | 2,445 |
Total liabilities | 835,846 | 805,058 |
Stockholders' equity | ||
Preferred stock, par value $0.01 per share; authorized - 500,000 shares; no shares issued and outstanding at March 31, 2017 and December 31, 2016 | ||
Common stock, par value $.01 per share; authorized 15,000,000 shares; 7,963,378 issued and 6,716,549 outstanding at March 31, 2017 and 7,963,378 issued and 6,717,242 outstanding at December 31, 2016 | 80 | 80 |
Additional paid-in-capital | 58,705 | 58,660 |
Retained earnings | 49,721 | 49,035 |
Treasury stock, at cost (1,246,829 shares at March 31, 2017 and 1,246,136 shares at December 31, 2016) | (15,356) | (15,347) |
Unearned Employee Stock Ownership Plan ("ESOP") Shares, at cost (488,161 shares at March 31, 2017 and 498,346 shares at December 31, 2016) | (6,414) | (6,548) |
Accumulated other comprehensive income | 725 | 548 |
Total stockholders' equity | 87,461 | 86,428 |
Total liabilities and stockholders' equity | $ 923,307 | $ 891,486 |
Consolidated Condensed Stateme3
Consolidated Condensed Statements of Financial Condition (Parenthetical) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Statement of Financial Position [Abstract] | ||
Loans receivable, allowance for loan losses | $ 6,164 | $ 6,112 |
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 | 7,963,378 |
Common stock, shares outstanding | 6,716,549 | 6,717,242 |
Treasury stock, shares | 1,246,829 | 1,246,136 |
Unearned ESOP Shares | 488,161 | 498,346 |
Consolidated Condensed Stateme4
Consolidated Condensed Statements of Income - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Interest and dividend income | ||
Loans | $ 6,736 | $ 6,465 |
Investment in securities, taxable | 1,118 | 1,247 |
Nontaxable securities available for sale | 283 | 353 |
Interest-bearing deposits | 23 | 16 |
Total interest and dividend income | 8,160 | 8,081 |
Interest expense: | ||
Deposits | 1,167 | 1,095 |
FHLB borrowings | 32 | 73 |
Repurchase agreements | 103 | 143 |
Subordinated debentures | 104 | 94 |
Total interest expense | 1,406 | 1,405 |
Net interest income | 6,754 | 6,676 |
Provision for loan losses | 291 | 458 |
Net interest income after provision for loan losses | 6,463 | 6,218 |
Non-interest income: | ||
Service charges | 804 | 677 |
Merchant card | 302 | 291 |
Mortgage origination income | 334 | 368 |
Gain on sale of investments | 2 | 291 |
Income from bank owned life insurance | 235 | 84 |
Income from financial services | 140 | 133 |
Other operating income | 479 | 176 |
Total non-interest income | 2,296 | 2,020 |
Non-interest expenses: | ||
Salaries and benefits | 4,236 | 3,988 |
Occupancy expense | 775 | 787 |
Data processing | 764 | 727 |
State deposit tax | 231 | 248 |
Professional services | 348 | 335 |
Advertising | 381 | 320 |
Foreclosure, net | 108 | 68 |
Other operating expenses | 846 | 1,210 |
Total non-interest expense | 7,689 | 7,683 |
Income before income tax expense | 1,070 | 555 |
Income tax expense | 135 | 46 |
Net income | $ 935 | $ 509 |
Net income per share: | ||
Basic | $ 0.15 | $ 0.08 |
Diluted | 0.15 | 0.08 |
Dividend per share | $ 0.04 | $ 0.04 |
Weighted average shares outstanding - basic | 6,218,706 | 6,297,755 |
Weighted average shares outstanding - diluted | 6,218,706 | 6,297,755 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Statement of Comprehensive Income [Abstract] | ||
Net income | $ 935 | $ 509 |
Other comprehensive income, net of tax: | ||
Unrealized gain on non-other than temporary impaired investment securities (OTTI) available for sale, net of taxes of ($121) and ($897), respectively | 235 | 1,745 |
Unrealized gain (loss) on OTTI securities, net of taxes of $29 and ($39), respectively | (57) | 72 |
Reclassification adjustment for gains included in net income, net of taxes of $1 and $99, respectively | (1) | (192) |
Total other comprehensive income | 177 | 1,625 |
Comprehensive income | $ 1,112 | $ 2,134 |
Consolidated Statements of Com6
Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Statement of Comprehensive Income [Abstract] | ||
Unrealized gain on investment securities available for sale, tax effect | $ 121 | $ 897 |
Unrealized gain (loss) on non other than temporary impaired securities, tax effect | 29 | (39) |
Reclassification adjustment for other than temporary impairment included in net income, tax effect | $ 1 | $ 99 |
Consolidated Condensed Stateme7
Consolidated Condensed Statement of Stockholders' Equity - USD ($) $ in Thousands | Total | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Common Treasury Shares [Member] | Unearned ESOP Shares [Member] | Accumulated Other Comprehensive Income [Member] |
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 | 509 | 509 | |||||
Issuance of restricted stock | 1 | $ 1 | |||||
Issuance of restricted stock, shares | 10,609 | ||||||
Repurchase of treasury stock | (901) | (901) | |||||
Repurchase of treasury stock, shares | (75,657) | ||||||
Change in price of ESOP shares | (16) | (16) | |||||
ESOP shares committed to be released | 141 | 141 | |||||
Compensation expense, restricted stock awards | 30 | 30 | |||||
Net change in unrealized gain on securities available for sale, net of income taxes | 1,625 | 1,625 | |||||
Cash dividend to common stockholders | (251) | (251) | |||||
Ending balance at Mar. 31, 2016 | 88,768 | $ 80 | 58,618 | 47,382 | (14,372) | (7,039) | 4,099 |
Ending balance, Shares at Mar. 31, 2016 | 6,800,763 | ||||||
Beginning balance at Dec. 31, 2016 | 86,428 | $ 80 | 58,660 | 49,035 | (15,347) | (6,548) | 548 |
Beginning balance, Shares at Dec. 31, 2016 | 6,717,242 | ||||||
Consolidated net income | 935 | 935 | |||||
Repurchase of treasury stock | (9) | (9) | |||||
Repurchase of treasury stock, shares | (693) | ||||||
Change in price of ESOP shares | 14 | 14 | |||||
ESOP shares committed to be released | 134 | 134 | |||||
Compensation expense, restricted stock awards | 31 | 31 | |||||
Net change in unrealized gain on securities available for sale, net of income taxes | 177 | 177 | |||||
Cash dividend to common stockholders | (249) | (249) | |||||
Ending balance at Mar. 31, 2017 | $ 87,461 | $ 80 | $ 58,705 | $ 49,721 | $ (15,356) | $ (6,414) | $ 725 |
Ending balance, Shares at Mar. 31, 2017 | 6,716,549 |
Consolidated Condensed Stateme8
Consolidated Condensed Statement of Stockholders' Equity (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Net change in unrealized gain (losses) on securities available for sale, taxes | $ 91 | $ 837 |
Accumulated Other Comprehensive Income [Member] | ||
Net change in unrealized gain (losses) on securities available for sale, taxes | $ 91 | $ 837 |
Consolidated Condensed Stateme9
Consolidated Condensed Statements of Cash Flows - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Cash flows from operating activities: | ||
Net cash provided by operating activities | $ 3,180 | $ 817 |
Cash flows from investing activities | ||
Proceeds from sales, calls and maturities of securities available for sale | 15,598 | 16,764 |
Purchase of securities available for sale | (13,728) | (15,021) |
Net (increase) decrease in loans | (11,528) | 3,259 |
Proceeds from sale of foreclosed assets | 329 | 282 |
Purchase of premises and equipment | (70) | (313) |
Net cash provided by (used in) investing activities | (9,399) | 4,971 |
Cash flows from financing activities: | ||
Net increase in demand deposits | 14,100 | 15,048 |
Net increase (decrease) in time and other deposits | 18,761 | (29,501) |
Increase in advances from borrowers for taxes and insurance | 101 | 140 |
Advances from Federal Home Loan Bank | 22,000 | |
Repayment of advances from Federal Home Loan Bank | (22,000) | (4,000) |
Net increase (decrease) in repurchase agreements | (2,163) | 1,170 |
Cash used to repurchase treasury stock | (9) | (901) |
Dividends paid on common stock | (249) | (251) |
Net cash provided by (used in) financing activities | 30,541 | (18,295) |
Increase (decrease) in cash and cash equivalents | 24,322 | (12,507) |
Cash and cash equivalents, beginning of period | 25,749 | 54,698 |
Cash and cash equivalents, end of period | 50,071 | 42,191 |
Supplemental disclosures of cash flow information: | ||
Interest paid | 1,396 | 1,509 |
Income taxes paid | 0 | 0 |
Supplemental disclosures of non-cash investing and financing activities: | ||
Loans charged off | 292 | 83 |
Foreclosures and in substance foreclosures of loans during period | 43 | |
Net unrealized gains on investment securities classified as available for sale | 268 | 2,460 |
Decrease in deferred tax asset related to unrealized gains on investments | (91) | (838) |
Dividends declared and payable | $ 288 | 286 |
Issuance of restricted common stock | $ 125 |
Basis of Presentation
Basis of Presentation | 3 Months Ended |
Mar. 31, 2017 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Presentation | (1) BASIS OF PRESENTATION The accompanying unaudited interim consolidated condensed financial statements include the accounts of HopFed Bancorp, Inc. (the “Corporation”) and its subsidiaries (collectively, the “Company”). The Corporation is a parent holding company of Heritage Bank USA, Inc. (the “Bank”). The Banks owns JBMM, LLC, a wholly owned, limited liability company, which owns and manages the Bank’s foreclosed assets. The Bank also owns Heritage USA Title, LLC, which sells title insurance to the Bank’s real estate loan customers. The Bank owns Fort Webb LP, LLC, which owns a limited partnership interest in Fort Webb Elderly Housing LP, LLC, a low income senior citizen housing facility in Bowling Green, Kentucky. The Corporation owns 100% of the common stock of HopFed Capital Trust I, a statutory trust formed under the laws of the state of Delaware with the purpose of issuing preferred capital securities to a third-party investor and purchasing junior subordinated debentures from the Company. HopFed Capital Trust I and Fort Webb LP, LLC are variable interest entities for which the Company is not the primary beneficiary. Accordingly, these subsidiaries are recorded under the equity method in the Company’s consolidated financial statements. All significant intercompany accounts have been eliminated. The Bank is a Kentucky commercial bank regulated by the Kentucky Department of Financial Institutions (“KDFI”) and the Federal Deposit Insurance Corporation (“FDIC”). HopFed Bancorp is regulated by the Federal Reserve Bank of Saint Louis (“FED”). The accompanying unaudited interim consolidated condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q S-X. The accompanying unaudited interim consolidated condensed 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 |
Net Income Per Share
Net Income Per Share | 3 Months Ended |
Mar. 31, 2017 | |
Earnings Per Share [Abstract] | |
Net Income Per Share | (2) NET INCOME PER SHARE Basic net income per share (IPS) is computed by dividing net income by the weighted average number of shares of common stock outstanding. Diluted net income per share is computed by dividing net income by the weighted average number of shares of common stock outstanding, adjusted for the effect of potentially dilutive stock awards outstanding during the period. For the three month periods ended March 31, 2017 and March 31, 2016, the Company has excluded all unearned shares held by the ESOP. March 31, 2017 2016 Basic IPS: Net income $ 935,000 $ 509,000 Average common shares outstanding 6,218,706 6,297,755 Net income per share $ 0.15 $ 0.08 Diluted IPS: Net income $ 935,000 $ 509,000 Average common shares outstanding 6,218,706 6,297,755 Dilutive effect of stock options — — Average diluted shares outstanding 6,218,706 6,297,755 Net income per share, diluted $ 0.15 $ 0.08 |
Stock Compensation
Stock Compensation | 3 Months Ended |
Mar. 31, 2017 | |
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 $31,000 for the three month period ended March 31, 2017 and $30,000 for the three month period ended March 31, 2016. The Company did not issue any restricted shares in the three month period ended March 31, 2017. The Company issued 10,609 shares of restricted stock in the three month period ended March 31, 2016. The table below provides a detail of the Company’s future compensation expense related to restricted stock vesting as of March 31, 2017 (Dollars in Thousands): Year Ending December 31, Future 2017 $ 57 2018 54 2019 9 2020 2 Total $ 122 The compensation committee may make additional awards of restricted stock, thereby increasing the future expense related to this plan. In addition, award vesting may be accelerated due to certain events as outlined in the restricted stock award agreement. Any acceleration of vesting will change the timing of, but not the aggregate amount of, compensation expense incurred. |
Securities
Securities | 3 Months Ended |
Mar. 31, 2017 | |
Cash and Cash Equivalents [Abstract] | |
Securities | (4) SECURITIES The carrying amount of securities and their estimated fair values at March 31, 2017 were as follows: March 31, 2017 Gross Gross Estimated Amortized Unrealized Unrealized Fair Cost Gains Losses Value (Dollars in Thousands) Restricted: FHLB stock $ 4,428 — — 4,428 Available for sale: U.S. Treasury securities $ 2,000 — — 2,000 U.S. Agency securities 90,294 929 (468 ) 90,755 Taxable municipal bonds 2,164 16 (9 ) 2,171 Tax free municipal bonds 33,052 1,128 (67 ) 34,113 Trust preferred securities 1,638 94 — 1,732 Mortgage backed securities 77,334 374 (899 ) 76,809 $ 206,482 2,541 (1,443 ) 207,580 The carrying amount of securities and their estimated fair values at December 31, 2016 were as follows: December 31, 2016 Gross Gross Estimated Amortized Unrealized Unrealized Fair Cost Gains Losses Value (Dollars in Thousands) Restricted: FHLB stock $ 4,428 — — 4,428 Available for sale: U.S. Treasury securities 2,000 1 — 2,001 U.S. Agency securities 83,667 983 (638 ) 84,012 Taxable municipal bonds 2,720 17 (10 ) 2,727 Tax free municipal bonds 33,004 1,081 (174 ) 33,911 Trust preferred securities 1,634 183 — 1,817 Mortgage-backed securities 85,626 437 (1,051 ) 85,012 $ 208,651 2,702 (1,873 ) 209,480 The scheduled maturities of debt securities available for sale at March 31, 2017 were as follows: Estimated Amortized Fair Cost Value (Dollars in Thousands) Due within one year $ 6,622 $ 6,624 Due in one to five years 20,553 20,748 Due in five to ten years 30,572 30,878 Due after ten years 11,024 11,515 68,771 69,765 Amortizing agency bonds 60,377 61,006 Mortgage-backed securities 77,334 76,809 Total securities available for sale $ 206,482 $ 207,580 The estimated fair value and unrealized loss amounts of temporarily impaired investments as of March 31, 2017 were as follows: Less than 12 months 12 months or longer Total Estimated Unrealized Estimated Unrealized Estimated Unrealized Fair Value Losses Fair Value Losses Fair Value Losses (Dollars in Thousands) Available for sale U.S. Agency securities $ 43,756 (419 ) 3,380 (49 ) 47,136 (468 ) Taxable municipals 794 (9 ) — — 794 (9 ) Tax free municipals 5,408 (67 ) — — 5,408 (67 ) Mortgage-backed securities 48,365 (654 ) 8,369 (245 ) 56,734 (899 ) Total available for sale $ 98,323 (1,149 ) 11,749 (294 ) 110,072 (1,443 ) The estimated fair value and unrealized loss amounts of temporarily impaired investments as of December 31, 2016 were as follows: Less than 12 months 12 months or longer Total Estimated Unrealized Estimated Unrealized Estimated Unrealized Fair Value Losses Fair Value Losses Fair Value Losses (Dollars in Thousands) Available for sale U.S. Agency securities $ 41,963 (597 ) 3,459 (41 ) 45,422 (638 ) Taxable municipals 1,347 (10 ) — — 1,347 (10 ) Tax free municipals 7,369 (174 ) — — 7,369 (174 ) Mortgage-backed securities 48,462 (796 ) 7,439 (255 ) 55,901 (1,051 ) Total available for sale $ 99,141 (1,577 ) 10,898 (296 ) 110,039 (1,873 ) Management evaluates securities for other-than-temporary impairment at least on a quarterly basis, and more frequently when economic or market concerns warrant such evaluations. Consideration is given to (1) the length of time and the extent to which the fair value has been less than cost, (2) the financial condition and near-term prospects of the issuer, and (3) the intent and ability of the Company to retain its investment in the issuer for a period of time sufficient to allow for any anticipated recovery in fair value. At March 31, 2017, the Company has 69 securities with unrealized losses. The losses for all securities are considered to be a direct result of the effect that the prevailing interest rate environment had on the value of debt securities and are not related to the credit worthiness of the issuers. Furthermore, the Company has the intent and ability to retain its investments in the issuers for a period of time that management believes to be sufficient to allow for any anticipated recovery in fair value. Therefore, the Company did not recognize any other-than-temporary impairments as of March 31, 2017. At March 31, 2017 and December 31, 2016, securities with a book value of approximately $128.9 million and $125.6 million and a market value of approximately $131.9 million and $128.4 million, respectively, were pledged to various municipalities for deposits in excess of FDIC limits as required by law. |
Loans
Loans | 3 Months Ended |
Mar. 31, 2017 | |
Receivables [Abstract] | |
Loans | (5) LOANS The Company uses the following loan segments as described below: • One-to-four non-owner • Home equity lines of credit may be first or second mortgages secured by one-to-four • Junior liens are closed-end loans secured by one-to-four • Multi-family loans are closed-end loans secured by residential housing with five or more units in a single building. Multi-family loans may carry a variable rate of interest or the interest rate on the loan is a fixed rate (usually five years). After the initial fixed rate period, the loan reverts to a variable rate or has a balloon maturity. Multi-family loans have amortization terms of up to twenty years and are under-written under the Company’s commercial loan underwriting guidelines. • Constructions loans may consist of residential or commercial properties and carry a fixed or variable rate for the term of the construction period. Construction loans have a maturity of between twelve and twenty-four months depending on the type of property. After the construction period, loans are amortized over a twenty-year period and are under-written under the Company’s underwriting guidelines for the type of property. • Land loans consist of properties currently under development, land held for future development and land held for recreational purposes. Land loans used for recreational purposes are amortized for twenty years and typically carry a fixed rate of interest for one-to-five • Loans classified as farmland by the Company include properties that are used exclusively for the production of grain, livestock, poultry or swine. Loans secured by farmland have a maturity of up to twenty years and carry a fixed rate of interest for five to ten years. Loans secured by farmland are under-written under the Company’s commercial loan underwriting guidelines. • Non-residential non-owner non-residential • The Company originates secured and unsecured consumer loans. Collateral for consumer loans may include deposits, brokerage accounts, automobiles and other personal items. Consumer loans are typically fixed for a term of one to five years and are under-written using the Company’s consumer loan policy. • The Company originates unsecured and secured commercial loans. Secured commercial loans may have business inventory, accounts receivable and equipment as collateral. The typical customer may include all forms of manufacturing, retail and wholesale sales, professional services and various forms of agri-business interest. Commercial loans may be fixed or variable rate and typically have terms between one and five years. Set forth below is selected data relating to the composition of the loan portfolio by type of loan at March 31, 2017 and December 31, 2016. At March 31, 2017 and December 31, 2016, there were no concentrations of loans exceeding 10% of total loans other than as disclosed below: March 31, 2017 December 31, 2016 (Dollars in Thousands) Real estate loans: One-to-four $ 157,626 147,962 Home equity lines of credit 36,694 35,684 Junior liens 1,365 1,452 Multi-family 38,483 34,284 Construction 17,386 39,255 Land 20,142 23,840 Farmland 42,812 47,796 Non-residential 213,933 182,940 Total mortgage loans 528,441 513,213 Consumer loans 8,674 8,717 Commercial loans 84,955 88,907 Total other loans 93,629 97,624 Total loans, gross 622,070 610,837 Deferred loan fees, net of costs (426 ) (439 ) Less allowance for loan losses (6,164 ) (6,112 ) Total loans, net $ 615,480 $ 604,286 Although the Company has a diversified loan portfolio, 84.9% and 84.0% of the portfolio was concentrated in loans secured by real estate located primarily within a single geographic region of the United States as of March 31, 2017 and December 31, 2016, respectively. The following table provides a detail of the Company’s activity in the allowance for loan loss account by loan type for the three month period ended March 31, 2017 (Dollars in Thousands): General Specific Ending Balance Charge off Recovery Provision Provision Balance 12/31/2016 2017 2017 2017 2017 3/31/2017 One-to-four $ 852 — 3 245 (3 ) 1,097 Home equity line of credit 260 — 2 68 (2 ) 328 Junior liens 8 — 1 1 (1 ) 9 Multi-family 412 — — 181 — 593 Construction 277 — — (136 ) — 141 Land 1,760 — — (396 ) (931 ) 433 Farmland 778 — — (147 ) 35 666 Non-residential 964 — 6 324 47 1,341 Consumer loans 208 (68 ) 33 18 49 240 Commercial loans 593 (224 ) 8 551 388 1,316 Total $ 6,112 (292 ) 53 709 (418 ) 6,164 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, 2016 (Dollars in Thousands): General Specific Ending Balance Charge off Recovery Provision Provision Balance 12/31/2015 2016 2016 2016 2016 12/31/2016 One-to-four $ 1,030 — 167 (118 ) (227 ) 852 Home equity line of credit 201 (30 ) 14 59 16 260 Junior liens 8 — 14 — (14 ) 8 Multi-family 227 (421 ) — 323 283 412 Construction 377 — — (100 ) — 277 Land 1,379 — — (586 ) 967 1,760 Farmland 358 — — 420 — 778 Non-residential 1,139 — 10 (41 ) (144 ) 964 Consumer loans 358 (422 ) 293 (187 ) 166 208 Commercial loans 623 (595 ) 141 122 302 593 Total $ 5,700 (1,468 ) 639 (108 ) 1,349 6,112 The table below presents past due and non-accrual 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 $ 153,653 688 248 55 2,982 — $ 157,626 Home equity line of credit 36,132 — 402 — 160 — 36,694 Junior liens 1,320 4 — 29 12 — 1,365 Multi-family 37,668 — — — 815 — 38,483 Construction 17,386 — — — — — 17,386 Land 12,020 — 7,234 431 457 — 20,142 Farmland 40,588 — 338 693 1,193 — 42,812 Non-residential 202,168 — 210 1,518 10,037 — 213,933 Consumer loans 8,239 22 119 — 294 — 8,674 Commercial loans 82,825 32 393 254 1,451 — 84,955 Total $ 591,999 746 8,944 2,980 17,401 — $ 622,070 The table below presents past due and non-accrual non-performing: 30 - 89 Non- Impaired Loans Currently Days Accrual Special Currently Performing Performing Past Due Loans Mention Substandard Doubtful Total (Dollars in Thousands) One-to-four 145,069 896 270 744 983 — 147,962 Home equity line of credit 35,087 22 402 25 148 — 35,684 Junior liens 1,407 4 — 30 11 — 1,452 Multi-family 31,280 — — — 3,004 — 34,284 Construction 39,255 — — — — — 39,255 Land 15,581 — 7,675 35 549 — 23,840 Farmland 44,832 — — 674 2,290 — 47,796 Non-residential 172,395 — 208 3 10,334 — 182,940 Consumer loans 8,354 28 3 — 332 — 8,717 Commercial loans 84,913 261 516 603 2,614 — 88,907 Total 578,173 1,211 9,074 2,114 20,265 — 610,837 At March 31, 2017 and December 31, 2016, there were no loans more than 90 days past due and accruing interest. The following table presents the balance in the allowance for loan losses and the recorded investment in loans as of March 31, 2017 and December 31, 2016, by portfolio segment and based on the impairment method as of March 31, 2017 and December 31, 2016. Land Development / Commercial Residential Commercial Construction Real Estate Real Estate Consumer Total (Dollars in Thousands) March 31, 2017: Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ 201 105 88 — 98 $ 492 Collectively evaluated for impairment 1,115 469 2,512 1,434 142 5,672 Total ending allowance balance $ 1,316 574 2,600 1,434 240 $ 6,164 Loans: Loans individually evaluated for impairment $ 1,844 7,691 12,593 3,804 413 $ 26,345 Loans collectively evaluated for impairment 83,111 29,837 282,635 191,881 8,261 595,725 Total ending loans balance $ 84,955 37,528 295,228 195,685 8,674 $ 622,070 Land Development / Commercial Residential Commercial Construction Real Estate Real Estate Consumer Total (Dollars in Thousands) December 31, 2016: Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ 28 1,036 — — 84 $ 1,148 Collectively evaluated for impairment 565 1,001 2,154 1,120 124 4,964 Total ending allowance balance $ 593 2,037 2,154 1,120 208 $ 6,112 Loans: Loans individually evaluated for impairment $ 3,130 8,224 15,836 1,814 335 $ 29,339 Loans collectively evaluated for impairment 85,777 54,871 249,184 183,284 8,382 581,498 Total ending loans balance $ 88,907 63,095 265,020 185,098 8,717 $ 610,837 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 growth and composition of the loan portfolio, the relationship of the allowance for loan losses to outstanding loans, historical loss experience, delinquency trends, prevailing economic conditions and the market value of the underlying collateral. 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 utilizes a credit grading system that provides a uniform framework for establishing and monitoring credit risk in the loan portfolio. Under this system, each loan is graded based on pre-determined Excellent - Very Good - Satisfactory - Acceptable - Watch - Special Mention - Non-financial Substandard - Doubtful - work-out work-out Loss The following credit risk standards are assigned to consumer loans: Satisfactory - open-end closed-end Substandard - open-end closed-end Loss - closed-end open-end 120-day 180-day 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. A summary of the Company’s impaired loans, including their respective regulatory classification and their respective specific reserve at March 31, 2017 and December 31, 2016 were as follows: Specific Allowance Allowance for Loans Special Impaired Loans for not March 31, 2017 Pass Mention Substandard Doubtful Total Impairment Impaired (Dollars in Thousands) One-to-four $ 154,341 55 3,230 — 157,626 — 1,097 Home equity line of credit 36,132 — 562 — 36,694 — 328 Junior liens 1,324 29 12 — 1,365 — 9 Multi-family 37,668 — 815 — 38,483 — 593 Construction 17,386 — — — 17,386 — 141 Land 12,020 431 7,691 — 20,142 105 328 Farmland 40,588 693 1,531 — 42,812 35 631 Non-residential 202,168 1,518 10,247 — 213,933 53 1,288 Consumer loans 8,261 — 413 — 8,674 98 142 Commercial loans 82,857 254 1,844 — 84,955 201 1,115 Total $ 592,745 2,980 26,345 — 622,070 492 5,672 Specific Allowance Allowance for Loans Special Impaired Loans for not December 31, 2016 Pass Mention Substandard Doubtful Total Impairment Impaired (Dollars in Thousands) One-to-four $ 145,965 744 1,253 — 147,962 — 852 Home equity line of credit 35,109 25 550 — 35,684 — 260 Junior liens 1,411 30 11 — 1,452 — 8 Multi-family 31,280 — 3,004 — 34,284 — 412 Construction 39,255 — — — 39,255 — 277 Land 15,581 35 8,224 — 23,840 1,036 724 Farmland 44,832 674 2,290 — 47,796 — 778 Non-residential 172,395 3 10,542 — 182,940 — 964 Consumer loans 8,382 — 335 — 8,717 84 124 Commercial loans 85,174 603 3,130 — 88,907 28 565 Total $ 579,384 2,114 29,339 — 610,837 1,148 4,964 Impaired loans by classification type and the related valuation allowance amounts at March 31, 2017 were as follows: For the three month period ended At March 31, 2017 March 31, 2017 Unpaid Average Interest Recorded Principal Related Recorded Income Impaired loans with no specific allowance Investment Balance Allowance Investment Recognized (Dollars in Thousands) One-to-four $ 3,230 3,230 — 2,242 31 Home equity line of credit 562 562 — 556 10 Junior liens 12 12 — 12 — Multi-family 815 815 — 1,910 10 Construction — — — — — Land 1,020 1,980 — 1,287 9 Farmland 1,005 1,005 — 1,648 13 Non-residential 9,849 9,849 — 10,196 134 Consumer loans 18 18 — 9 — Commercial loans 1,336 1,336 — 2,101 12 Total 17,847 18,807 — 19,961 219 Impaired loans with a specific allowance One-to-four — — — — — Home equity line of credit — — — — — Junior liens — — — — — Multi-family — — — — — Construction — — — — — Land 6,671 6,671 105 6,671 — Farmland 526 526 35 263 — Non-residential 398 398 53 199 5 Consumer loans 395 395 98 365 — Commercial loans 508 508 201 387 3 Total 8,498 8,498 492 7,885 8 Total impaired loans $ 26,345 27,305 492 27,846 227 Impaired loans by classification type and the related valuation allowance amounts at December 31, 2016 were as follows: For the year ended At December 31, 2016 December 31, 2016 (Dollars in Thousands) Unpaid Average Interest Recorded Principal Related Recorded Income Impaired loans with no specific allowance Investment Balance Allowance Investment Recognized One-to-four $ 1,253 1,253 — 1,470 67 Home equity line of credit 550 550 — 390 24 Junior liens 11 11 — 13 1 Multi-family 3,004 3,004 — 3,005 172 Construction — — — — — Land 1,553 2,513 — 7,868 38 Farmland 2,290 2,290 — 1,563 120 Non-residential 10,542 10,542 — 9,363 485 Consumer loans — — — 21 1 Commercial loans 2,865 2,865 — 3,168 112 Total 22,068 23,028 — 26,861 1,020 Impaired loans with a specific allowance One-to-four — — — 452 — Home equity line of credit — — — — — Junior liens — — — — — Multi-family — — — 910 — Construction — — — — — Land 6,671 6,671 1,036 1,811 485 Farmland — — — 533 — Non-residential — — — — — Consumer loans 335 335 84 273 — Commercial loans 265 265 28 754 24 Total 7,271 7,271 1,148 4,733 509 Total impaired loans $ 29,339 30,299 1,148 31,594 1,529 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 (FASB) has issued Accounting Standards Update ASU 310 (ASU 310), A Creditor’s Determination of Whether a Restructuring is a Troubled Debt Restructuring. At December 31, 2016, the Company had eight loans, representing three lending relationships, classified as performing TDRs. During the three month period ended March 31, 2017, the Company removed one lending relationship from TDR status. That relationship, with two loans representing $2.2 million, has paid as agreed based on the original terms of their note for a period of at least six months. For the three month period ended March 31, 2017, no loans were added to TDR classification and all loans currently classified as TDR are current based on their revised terms. The following table provides the number of loans remaining in each category as of March 31, 2017 and December 31, 2016 that the Company had previously modified in a TDR: Post Modification Pre-Modification Outstanding Record Number of Outstanding Investment, net of Loans Record Investment related allowance March 31, 2017 Multi-family 3 $ 815,273 815,273 Non-residential 3 3,421,915 3,421,915 December 31, 2016 Multi-family 3 $ 815,273 815,273 Non-residential 5 5,646,223 5,646,223 There were no loans as of March 31, 2017 that have been modified as TDRs and that subsequently defaulted within twelve months on their modified terms. At March 31, 2017, there are no commitments to lend additional funds to any borrower whose loan terms have been modified in a TDR. |
Foreclosed Assets
Foreclosed Assets | 3 Months Ended |
Mar. 31, 2017 | |
Banking and Thrift [Abstract] | |
Foreclosed Assets | (6) FORECLOSED ASSETS The Company’s foreclosed assets have been 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 losses on foreclosed assets 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 foreclosed assets with a book balance in excess of $250,000 on an annual basis. Additional losses are recognized as a non-interest At March 31, 2017 and December 31, 2016, the Company had balances in foreclosed assets consisting of the following: March 31, 2017 December 31, 2016 (Dollars in Thousands) One-to-four $ 135 135 Home equity line of credit 28 28 Multi-family real estate 1,775 1,775 Non-residential 173 459 Total other assets owned $ 2,111 2,397 For the three month period ended March 31, 2017, the Company’s activity in foreclosed property included the following: Activity During 2017 Balance Reduction Gain (Loss) Balance 12/31/2016 Foreclosure Sales in Values on Sale 3/31/2017 (Dollars in Thousands) One-to-four $ 135 — — — — $ 135 HELOC 28 — — — — 28 Multi-family 1,775 — — — — 1,775 Non-residential 459 43 (329 ) — — 173 Total $ 2,397 43 (329 ) — — $ 2,111 For the three month period ended March 31, 2016, the Company’s activity in foreclosed property included the following: Activity During 2016 Balance Reduction Gain (Loss) Balance 12/31/2015 Foreclosure Sales in Values on Sale 3/31/2016 (Dollars in Thousands) One-to-four $ 55 — — — — $ 55 HELOC 943 — — — — 943 Non-residential 738 — (270 ) — (9 ) 459 Consumer — 12 (12 ) — — — Total $ 1,736 12 (282 ) — (9 ) $ 1,457 |
Fair Value of Assets and Liabil
Fair Value of Assets and Liabilities | 3 Months Ended |
Mar. 31, 2017 | |
Fair Value Disclosures [Abstract] | |
Fair Value of Assets and Liabilities | FAIR VALUE OF ASSETS AND LIABILITIES Accounting Standards Codification Topic (ASC) 820 , 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 following are the significant methods and assumptions used by the Company in estimating its fair value disclosures for financial instruments: Cash and due from banks The carrying amounts reported in the consolidated balance sheets for cash and cash equivalents approximate those assets’ fair values, because they mature within 90 days or less and do not present credit risk concerns. Interest-bearing deposits The carrying amounts reported in the consolidated balance sheets for interest earning deposits approximate those assets’ fair values, because they are considered overnight deposits and may be withdrawn at any time without penalty and do not present credit risk concerns. Available-for-sale Fair values for investment securities available-for-sale FHLB stock The fair value of FHLB stock is recognized at cost. Loans held for sale Mortgage loans originated and intended to be sold are carried at the lower of cost or estimated fair value as determined on a loan by loan basis. Gains or losses are recognized at the time of ownership transfer. Net unrealized losses, if any, are recognized through a valuation allowance and charged to income. Loans receivable The fair values for of fixed-rate loans and variable rate loans that re-price re-pricing re-price Accrued interest receivable Fair value is estimated to approximate the carrying amount because such amounts are expected to be received within 90 days or less and any credit concerns have been previously considered in the carrying value. Deposits The fair values disclosed for deposits with no stated maturity such as demand deposits, interest-bearing checking accounts and savings accounts are, by definition, equal to the amount payable on demand at the reporting date (that is, their carrying amounts). The fair values for certificates of deposit and other fixed maturity time deposits are estimated using a discounted cash flow calculation that applies interest rates currently being offered on such type accounts or similar accounts to a schedule of aggregated contractual maturities or similar maturities on such time deposits. Advances from borrowers for taxes and insurance The carrying amount of advances from borrowers for taxes and insurance approximates its fair value. Advances from the Federal Home Loan Bank (FHLB) The fair value of these advances is estimated by discounting the future cash flows of these advances using the current rates at which similar advances or similar financial instruments could be obtained. Repurchase agreements Overnight repurchase agreements have a fair value at book, given that they mature overnight. The fair values for of longer date repurchase agreements is estimated using discounted cash flow analysis which considers the current market pricing for repurchase agreements of similar final maturities and collateral requirements. Subordinated debentures The book value of subordinated debentures is cost. The subordinated debentures re-price Fair Value Measurements on a Recurring Basis Where quoted prices are available for identical securities in an active market, securities available for sale are classified within Level 1 of the valuation hierarchy. Level 1 securities include highly liquid government securities and certain other financial products. If quoted market prices are not available, then fair values are estimated by using pricing models that use observable inputs or quoted prices of securities with similar characteristics and are classified within Level 2 of the valuation hierarchy. In certain cases where there is limited activity or less transparency around inputs to the valuation and more complex pricing models or discounted cash flows are used, securities are classified within Level 3 of the valuation hierarchy. The assets and liabilities measured at fair value on a recurring basis at March 31, 2017 are summarized below: Description Total carrying Quoted Prices Significant Significant (Dollars in Thousands) Assets Securities available for sale U.S. Treasury securities 2,000 2,000 — — U.S. Agency securities 90,755 — 90,755 — Taxable municipals 2,171 — 2,171 — Tax-free 34,113 — 34,113 — Trust preferred securities 1,732 — — 1,732 Mortgage backed securities 76,809 — 76,809 — Total 207,580 2,000 203,848 1,732 The assets and liabilities measured at fair value on a recurring basis at December 31, 2016 are summarized below: Description Total carrying Quoted Prices Significant Significant (Dollars in Thousands) Assets Securities available for sale U.S. Treasury securities 2,001 2,001 — — U.S. Agency securities 84,012 — 84,012 — Taxable municipals 2,727 — 2,727 — Tax-free 33,911 — 33,911 — Trust preferred securities 1,817 — — 1,817 Mortgage backed securities 85,012 — 85,012 — Total 209,480 2,001 205,662 1,817 The assets and liabilities measured at fair value on a non-recurring Total carrying Quoted Prices Significant value in the In Active Other Significant consolidated Markets for Observable Unobservable balance sheet at Identical Assets Inputs Inputs Description March 31, 2017 (Level 1) (Level 2) (Level 3) (Dollars in Thousands) Assets Foreclosed assets $ 2,111 — — $ 2,111 Impaired loans, net of allowance $ 8,006 — — $ 8,006 The assets and liabilities measured at fair value on a non-recurring Total carrying Quoted Prices Significant value in the In Active Other Significant consolidated Markets for Observable Unobservable balance sheet at Identical Assets Inputs Inputs Description December 31, 2016 (Level 1) (Level 2) (Level 3) (Dollars in Thousands) Assets Foreclosed assets $ 2,397 — — $ 2,397 Impaired loans, net of allowance $ 6,123 — — $ 6,123 The following table presents quantitative information about level 3 fair value measurements for assets measured at fair value on a recurring and non-recurring Level 3 Significant Unobservable Input Assumptions Quantitative Range Fair Valuation Unobservable of Unobservable ` Value Technique Input Inputs (Dollars in Thousands) March 31, 2017 Assets measured on a non-recurring Foreclosed assets $ 2,111 Discount to appraised Appraisal comparability 30% to 55% Impaired loans 8,006 Discount to appraised Appraisal comparability 10% to 25% Asset measured on a recurring basis Trust preferred securities 1,732 Discounted cash flow Compare to quotes for One month libor December 31, 2016 Assets measured on a non-recurring Foreclosed assets $ 2,397 Discount to appraised Appraisal comparability 30% to 55% Impaired loans 6,123 Discount to appraised Appraisal comparability 10% to 15% Asset measured on a recurring basis Trust preferred securities 1,817 Discounted cash flow Compare to quotes for One month libor Foreclosed assets and impaired loans are valued at fair value, less cost to sell. Fair value of a foreclosed asset is determined by an appraised value of the underlying collateral to which a discount is applied. Management establishes the discount or adjustments based on recent sales and any unique features the collateral may possess. Management also considers the anticipated selling cost associated with the collateral when establishing the discounted percentage. Management may adjust the discounts based on the most recent sales of comparable collateral. The Company bases the value of its trust preferred security on a quarterly review of SEC filings by the issuer to ascertain overall financial strength. Based on the analysis, the Company then reviews the Libor swap curve to analyze the overall yield of our investment as compared to long-term swap rates. On rare occasions, the Company may receive an offer from a broker to purchase similar type instruments and the Company will analyze these offerings as compared to our investment. The table below includes a roll-forward of the consolidated condensed statement of financial condition items for the three month periods ended March 31, 2017 and March 31, 2016, (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. 2017 2016 Three month period ended March 31, Other Assets Other Assets (Dollars in Thousands) Fair value, January 1 $ 1,817 1,865 Change in unrealized losses included in other comprehensive income for assets and liabilities still held at March 31 (89 ) 105 Accretion of previously discounted amounts 4 4 Purchases, issuances and settlements, net — — Transfers in and/or out of Level 3 — — Fair value, March 31 $ 1,732 1,974 The estimated fair values of financial instruments were as follows at March 31, 2017: Carrying Estimated Quoted Prices Using Significant (Dollars in Thousands) Financial Assets: Cash and due from banks $ 30,663 30,663 30,663 — — Interest-bearing deposits 19,408 19,408 19,408 — — Securities available for sale 207,580 207,580 2,000 203,848 1,732 Federal Home Loan Bank stock 4,428 4,428 — — 4,428 Loans held for sale 1,091 1,091 — 1,091 — Loans receivable 615,480 600,288 — — 600,288 Accrued interest receivable 3,121 3,121 — — 3,121 Financial liabilities: Deposits 765,743 766,415 — 766,415 — Advances from borrowers for taxes and insurance 867 867 — 867 — Advances from Federal Home Loan Bank 11,000 10,999 — 10,999 — Repurchase agreements 45,492 45,492 — 45,492 — Subordinated debentures 10,310 10,099 — — 10,099 The estimated fair values of financial instruments were as follows at December 31, 2016: Carrying Estimated Quoted Prices Using Significant (Dollars in Thousands) Financial Assets: Cash and due from banks $ 21,779 21,779 21,779 — — Interest-bearing deposits 3,970 3,970 3,970 — — Securities available for sale 209,480 209,480 2,001 205,662 1,817 Federal Home Loan Bank stock 4,428 4,428 — — 4,428 Loans held for sale 1,094 1,094 — 1,094 — Loans receivable 604,286 593,257 — — 593,257 Accrued interest receivable 3,799 3,799 — — 3,799 Financial liabilities: Deposits 732,882 732,942 — 732,942 — Advances from borrowers for taxes and insurance 766 766 — 766 — Advances from Federal Home Loan Bank 11,000 10,979 — 10,979 — Repurchase agreements 47,655 47,655 — 47,655 — Subordinated debentures 10,310 10,099 — — 10,099 |
Effect of New Accounting Pronou
Effect of New Accounting Pronouncements | 3 Months Ended |
Mar. 31, 2017 | |
Accounting Changes and Error Corrections [Abstract] | |
Effect of New Accounting Pronouncements | (8) EFFECT OF NEW ACCOUNTING PRONOUNCEMENTS In May 2014, the FASB issued new guidance related to “ Revenue from Contracts with Customers Revenue Recognition one-year ASU 2016-01, 825-10): 2016-01, available-for-sale. 2016-01 ASU 2016-02 Leases (Topic 842) 2016-02 right-of-use 2016-02 2016-02 2016-02 ASU 2016-05 Derivatives and Hedging (Topic 815) Effect of Derivative Contract Novations on Existing Hedge Accounting Relationships 2016-05 de-designation 2016-05 2016-05 ASU 2016-07, 2016-07 2016-07 2016-07 ASU 2016-09, 2016-09 paid-in paid-in paid-in 2016-09 2016-09 2016-09 2016-09 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” available-for-sale. 2016-13 2016-13 ASU 2016-15 “Statement of Cash Flows (Topic 230)” 2016-15”) 2016-15 2016-15 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 | 3 Months Ended |
Mar. 31, 2017 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | (9) INCOME TAXES The Company files consolidated federal income tax returns and Tennessee excise tax returns. The Company files consolidated Kentucky income tax returns. The Bank is exempt from Kentucky corporate income tax. The Company has no unrecognized tax benefits and has not accrued any interest or penalties for uncertain tax positions. The effective tax rate differs from the statutory federal rate of 35% and Tennessee excise rate of 6.5% due to investments in qualified municipal securities, bank owned life insurance, income apportioned to Kentucky and certain non-deductible The Company’s investment in Fort Webb LP, LLC generates tax credits and depreciation expense that the Company can use to offset taxable income. At March 31, 2017 and December 31, 2016, the Company’s balance sheet did not include any equity investment in Fort Webb. The Company has other investments that produce both tax credits and depreciation expense that may be used to offset net income. At March 31, 2017, the Company has $10.1 million in bank owned life insurance policies. The income generated from these policies increase the cash flow of the policies on a tax free basis. Life insurance proceeds are paid upon the death of a covered party. These proceeds, netted against the current cash value of the policy, result in tax free income to the Company. For the three month period ended March 31, 2017, the Company received additional income of approximately $170,000 from the net proceeds of a life insurance policy. At March 31, 2017, the Company’s investment portfolio includes $34.1 million of tax free municipal bonds. Interest income on this portfolio, after netting out a disallowance for interest expense attributable to this portfolio, is tax exempt. |
Esop
Esop | 3 Months Ended |
Mar. 31, 2017 | |
Text Block [Abstract] | |
Esop | (10) ESOP Substantially all of the Company’s employees who are at least 21 years old and have one year of employment with the Company 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 Employees who are not employed on 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 second ESOP loan payment in December 2016. At March 31, 2017, the Company’s accrued liability for the loan payment is $195,000. At March 31, 2017 and December 31, 2016, shares held by the ESOP were as follows: March 31, 2017 December 31, 2016 Accrued for allocation to participants 10,185 — Earned ESOP shares 101,654 101,654 Unearned ESOP shares 488,161 498,346 Total ESOP shares 600,000 600,000 Fair value of unearned shares $ 6,990,466 $ 6,707,737 |
Commitments and Contingencies
Commitments and Contingencies | 3 Months Ended |
Mar. 31, 2017 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | (11) COMMITMENTS AND CONTINGENCIES At March 31, 2017, the Bank had $32.1 million in outstanding commitments on revolving home equity lines of credit, $19.4 million in outstanding commitments on revolving personal lines of credit and $43.9 million in commitments to originate loans and undisbursed commitments on commercial lines of credit of $48.7 million. At March 31, 2017, the Company had $287,000 in standby letters of credit outstanding. At March 31, 2017, the Company has $43.1 million in times deposits greater than $100,000 but less than $250,000 that are scheduled to mature in one year and $47.6 million in time deposits with balances greater than $250,000 that are scheduled to mature in one year or less. The Bank’s FHLB borrowings are secured by a blanket security agreement pledging the Bank’s 1-4 non-residential 1-4 Outstanding Rate Maturity (Dollars in Thousands) $ 5,000 0.88 % 10/06/2017 6,000 1.18 % 07/06/2018 $ 11,000 1.04 % The Federal Home Loan Bank of Cincinnati has issued letters of credit in the Bank’s name totaling $45.5 million secured by the Bank’s loan portfolio to secure additional municipal deposits. At March 31, 2017, securities with a book value of approximately $45.2 million and a market value of $45.5 million were sold under agreements to repurchase from various customers. The Company is a party to certain ordinary course litigation, and the Company intends to vigorously defend itself in all such matters. In the opinion of the Company, based on review and consultation with legal counsel, the outcome of such ordinary course litigation should not have a material adverse effect on the Company’s consolidated financial statements or results of operations. |
Regulatory Matters
Regulatory Matters | 3 Months Ended |
Mar. 31, 2017 | |
Banking and Thrift [Abstract] | |
Regulatory Matters | (12) REGULATORY MATTERS 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 was phased in beginning in January 2016 at 0.625% of risk-weighted assets and will increase each year until fully implemented in January 2019. For 2017, the capital conservation buffer is 1.25%. 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 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 opt-out opt-out Quantitative measures established by regulation to ensure capital adequacy require the Bank to maintain minimum amounts and ratios (set forth in the table below) of tangible and core capital (as defined in the regulations) to adjusted total assets (as defined), and of total capital (as defined) and Tier 1 to risk weighted assets (as defined). The minimum required capital amounts presented include the minimum required capital levels as of March 31, 2017 and December 31, 2016 based on the phase-in The Company’s consolidated capital ratios and the Bank’s actual capital amounts and ratios as of March 31, 2017 and December 31, 2016 are presented below: To be Well Minimum Capital Capitalized for Required – Basel III Prompt Corrective Actual Phase-In Action Provisions As of March 31, 2017 Amount Ratio Amount Ratio Amount Ratio (Dollars in Thousands) Tier 1 leverage capital to adjusted total assets Company $ 94,592 10.6 % $ 35,876 4.0 % $ 44,845 5.0 % Bank $ 93,585 10.5 % $ 35,752 4.0 % $ 44,690 5.0 % Total capital to risk weighted assets Company $ 100,756 16.1 % $ 57,792 9.25 % $ 62,478 10.0 % Bank $ 99,749 16.0 % $ 57,664 9.25 % $ 62,339 10.0 % Tier 1 capital to risk weighted assets Company $ 94,592 15.1 % $ 45,297 7.25 % $ 49,983 8.0 % Bank $ 93,585 15.0 % $ 45,196 7.25 % $ 49,871 8.0 % Common equity tier 1 capital to risk weighted assets Company $ 94,592 15.1 % $ 35,925 5.75 % n/a n/a Bank $ 93,585 15.0 % $ 35,845 5.75 % $ 40,520 6.5 % As of December 31, 2016 Tier 1 leverage capital to adjusted total assets Company $ 92,803 10.8 % $ 34,392 4.0 % $ 42,990 5.0 % Bank $ 91,617 10.7 % $ 34,315 4.0 % $ 42,894 5.0 % Total capital to risk weighted assets Company $ 98,915 16.2 % $ 52,682 8.625 % $ 61,080 10.0 % Bank $ 97,729 16.0 % $ 52,561 8.625 % $ 60,941 10.0 % Tier 1 capital to risk weighted assets Company $ 92,803 15.2 % $ 40,466 6.625 % $ 48,864 8.0 % Bank $ 91,617 15.0 % $ 40,373 6.625 % $ 48,753 8.0 % Common equity tier 1 capital to risk weighted assets Company $ 92,803 15.2 % $ 31,304 5.125 % n/a n/a Bank $ 91,617 15.0 % $ 31,232 5.125 % $ 39,611 6.5 % |
Fair Value of Assets and Liab22
Fair Value of Assets and Liabilities (Policies) | 3 Months Ended |
Mar. 31, 2017 | |
Accounting Changes and Error Corrections [Abstract] | |
Fair Value Measurement | Accounting Standards Codification Topic (ASC) 820 , 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 following are the significant methods and assumptions used by the Company in estimating its fair value disclosures for financial instruments: Cash and due from banks The carrying amounts reported in the consolidated balance sheets for cash and cash equivalents approximate those assets’ fair values, because they mature within 90 days or less and do not present credit risk concerns. Interest-bearing deposits The carrying amounts reported in the consolidated balance sheets for interest earning deposits approximate those assets’ fair values, because they are considered overnight deposits and may be withdrawn at any time without penalty and do not present credit risk concerns. Available-for-sale Fair values for investment securities available-for-sale FHLB stock The fair value of FHLB stock is recognized at cost. Loans held for sale Mortgage loans originated and intended to be sold are carried at the lower of cost or estimated fair value as determined on a loan by loan basis. Gains or losses are recognized at the time of ownership transfer. Net unrealized losses, if any, are recognized through a valuation allowance and charged to income. Loans receivable The fair values for of fixed-rate loans and variable rate loans that re-price re-pricing re-price Accrued interest receivable Fair value is estimated to approximate the carrying amount because such amounts are expected to be received within 90 days or less and any credit concerns have been previously considered in the carrying value. Deposits The fair values disclosed for deposits with no stated maturity such as demand deposits, interest-bearing checking accounts and savings accounts are, by definition, equal to the amount payable on demand at the reporting date (that is, their carrying amounts). The fair values for certificates of deposit and other fixed maturity time deposits are estimated using a discounted cash flow calculation that applies interest rates currently being offered on such type accounts or similar accounts to a schedule of aggregated contractual maturities or similar maturities on such time deposits. Advances from borrowers for taxes and insurance The carrying amount of advances from borrowers for taxes and insurance approximates its fair value. Advances from the Federal Home Loan Bank (FHLB) The fair value of these advances is estimated by discounting the future cash flows of these advances using the current rates at which similar advances or similar financial instruments could be obtained. Repurchase agreements Overnight repurchase agreements have a fair value at book, given that they mature overnight. The fair values for of longer date repurchase agreements is estimated using discounted cash flow analysis which considers the current market pricing for repurchase agreements of similar final maturities and collateral requirements. Subordinated debentures The book value of subordinated debentures is cost. The subordinated debentures re-price |
Revenue from Contracts with Customers | In May 2014, the FASB issued new guidance related to “ Revenue from Contracts with Customers Revenue Recognition one-year |
Financial Instruments | ASU 2016-01, 825-10): 2016-01, available-for-sale. 2016-01 |
Leases | ASU 2016-02 Leases (Topic 842) 2016-02 right-of-use 2016-02 2016-02 2016-02 |
Derivatives and Hedging | ASU 2016-05 Derivatives and Hedging (Topic 815) Effect of Derivative Contract Novations on Existing Hedge Accounting Relationships 2016-05 de-designation 2016-05 2016-05 |
Investments-Equity Method and Joint Ventures | ASU 2016-07, 2016-07 2016-07 2016-07 |
Compensation - Stock Compensation | ASU 2016-09, 2016-09 paid-in paid-in paid-in 2016-09 2016-09 2016-09 2016-09 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” available-for-sale. 2016-13 2016-13 |
Net Income Per Share (Tables)
Net Income Per Share (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Earnings Per Share [Abstract] | |
Reconciliation of Basic and Diluted Income (Loss) Per Share | March 31, 2017 2016 Basic IPS: Net income $ 935,000 $ 509,000 Average common shares outstanding 6,218,706 6,297,755 Net income per share $ 0.15 $ 0.08 Diluted IPS: Net income $ 935,000 $ 509,000 Average common shares outstanding 6,218,706 6,297,755 Dilutive effect of stock options — — Average diluted shares outstanding 6,218,706 6,297,755 Net income per share, diluted $ 0.15 $ 0.08 |
Stock Compensation (Tables)
Stock Compensation (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
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 as of March 31, 2017 (Dollars in Thousands): Year Ending December 31, Future 2017 $ 57 2018 54 2019 9 2020 2 Total $ 122 |
Securities (Tables)
Securities (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
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 March 31, 2017 were as follows: March 31, 2017 Gross Gross Estimated Amortized Unrealized Unrealized Fair Cost Gains Losses Value (Dollars in Thousands) Restricted: FHLB stock $ 4,428 — — 4,428 Available for sale: U.S. Treasury securities $ 2,000 — — 2,000 U.S. Agency securities 90,294 929 (468 ) 90,755 Taxable municipal bonds 2,164 16 (9 ) 2,171 Tax free municipal bonds 33,052 1,128 (67 ) 34,113 Trust preferred securities 1,638 94 — 1,732 Mortgage backed securities 77,334 374 (899 ) 76,809 $ 206,482 2,541 (1,443 ) 207,580 The carrying amount of securities and their estimated fair values at December 31, 2016 were as follows: December 31, 2016 Gross Gross Estimated Amortized Unrealized Unrealized Fair Cost Gains Losses Value (Dollars in Thousands) Restricted: FHLB stock $ 4,428 — — 4,428 Available for sale: U.S. Treasury securities 2,000 1 — 2,001 U.S. Agency securities 83,667 983 (638 ) 84,012 Taxable municipal bonds 2,720 17 (10 ) 2,727 Tax free municipal bonds 33,004 1,081 (174 ) 33,911 Trust preferred securities 1,634 183 — 1,817 Mortgage-backed securities 85,626 437 (1,051 ) 85,012 $ 208,651 2,702 (1,873 ) 209,480 |
Maturities of Debt Securities Available for Sale | The scheduled maturities of debt securities available for sale at March 31, 2017 were as follows: Estimated Amortized Fair Cost Value (Dollars in Thousands) Due within one year $ 6,622 $ 6,624 Due in one to five years 20,553 20,748 Due in five to ten years 30,572 30,878 Due after ten years 11,024 11,515 68,771 69,765 Amortizing agency bonds 60,377 61,006 Mortgage-backed securities 77,334 76,809 Total securities available for sale $ 206,482 $ 207,580 |
Estimated Fair Value and Unrealized Loss Amounts of Impaired Investments | The estimated fair value and unrealized loss amounts of temporarily impaired investments as of March 31, 2017 were as follows: Less than 12 months 12 months or longer Total Estimated Unrealized Estimated Unrealized Estimated Unrealized Fair Value Losses Fair Value Losses Fair Value Losses (Dollars in Thousands) Available for sale U.S. Agency securities $ 43,756 (419 ) 3,380 (49 ) 47,136 (468 ) Taxable municipals 794 (9 ) — — 794 (9 ) Tax free municipals 5,408 (67 ) — — 5,408 (67 ) Mortgage-backed securities 48,365 (654 ) 8,369 (245 ) 56,734 (899 ) Total available for sale $ 98,323 (1,149 ) 11,749 (294 ) 110,072 (1,443 ) The estimated fair value and unrealized loss amounts of temporarily impaired investments as of December 31, 2016 were as follows: Less than 12 months 12 months or longer Total Estimated Unrealized Estimated Unrealized Estimated Unrealized Fair Value Losses Fair Value Losses Fair Value Losses (Dollars in Thousands) Available for sale U.S. Agency securities $ 41,963 (597 ) 3,459 (41 ) 45,422 (638 ) Taxable municipals 1,347 (10 ) — — 1,347 (10 ) Tax free municipals 7,369 (174 ) — — 7,369 (174 ) Mortgage-backed securities 48,462 (796 ) 7,439 (255 ) 55,901 (1,051 ) Total available for sale $ 99,141 (1,577 ) 10,898 (296 ) 110,039 (1,873 ) |
Loans (Tables)
Loans (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Receivables [Abstract] | |
Composition of Loan Portfolio By Type of Loan | At March 31, 2017 and December 31, 2016, there were no concentrations of loans exceeding 10% of total loans other than as disclosed below: March 31, 2017 December 31, 2016 (Dollars in Thousands) Real estate loans: One-to-four $ 157,626 147,962 Home equity lines of credit 36,694 35,684 Junior liens 1,365 1,452 Multi-family 38,483 34,284 Construction 17,386 39,255 Land 20,142 23,840 Farmland 42,812 47,796 Non-residential 213,933 182,940 Total mortgage loans 528,441 513,213 Consumer loans 8,674 8,717 Commercial loans 84,955 88,907 Total other loans 93,629 97,624 Total loans, gross 622,070 610,837 Deferred loan fees, net of costs (426 ) (439 ) Less allowance for loan losses (6,164 ) (6,112 ) Total loans, net $ 615,480 $ 604,286 |
Allowance for Loan Loss Account by Loan | The following table provides a detail of the Company’s activity in the allowance for loan loss account by loan type for the three month period ended March 31, 2017 (Dollars in Thousands): General Specific Ending Balance Charge off Recovery Provision Provision Balance 12/31/2016 2017 2017 2017 2017 3/31/2017 One-to-four $ 852 — 3 245 (3 ) 1,097 Home equity line of credit 260 — 2 68 (2 ) 328 Junior liens 8 — 1 1 (1 ) 9 Multi-family 412 — — 181 — 593 Construction 277 — — (136 ) — 141 Land 1,760 — — (396 ) (931 ) 433 Farmland 778 — — (147 ) 35 666 Non-residential 964 — 6 324 47 1,341 Consumer loans 208 (68 ) 33 18 49 240 Commercial loans 593 (224 ) 8 551 388 1,316 Total $ 6,112 (292 ) 53 709 (418 ) 6,164 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, 2016 (Dollars in Thousands): General Specific Ending Balance Charge off Recovery Provision Provision Balance 12/31/2015 2016 2016 2016 2016 12/31/2016 One-to-four $ 1,030 — 167 (118 ) (227 ) 852 Home equity line of credit 201 (30 ) 14 59 16 260 Junior liens 8 — 14 — (14 ) 8 Multi-family 227 (421 ) — 323 283 412 Construction 377 — — (100 ) — 277 Land 1,379 — — (586 ) 967 1,760 Farmland 358 — — 420 — 778 Non-residential 1,139 — 10 (41 ) (144 ) 964 Consumer loans 358 (422 ) 293 (187 ) 166 208 Commercial loans 623 (595 ) 141 122 302 593 Total $ 5,700 (1,468 ) 639 (108 ) 1,349 6,112 |
Loan Balances by Loan Classification Allocated Between Past Due Performing and Non-performing | The table below presents past due and non-accrual 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 $ 153,653 688 248 55 2,982 — $ 157,626 Home equity line of credit 36,132 — 402 — 160 — 36,694 Junior liens 1,320 4 — 29 12 — 1,365 Multi-family 37,668 — — — 815 — 38,483 Construction 17,386 — — — — — 17,386 Land 12,020 — 7,234 431 457 — 20,142 Farmland 40,588 — 338 693 1,193 — 42,812 Non-residential 202,168 — 210 1,518 10,037 — 213,933 Consumer loans 8,239 22 119 — 294 — 8,674 Commercial loans 82,825 32 393 254 1,451 — 84,955 Total $ 591,999 746 8,944 2,980 17,401 — $ 622,070 The table below presents past due and non-accrual non-performing: 30 - 89 Non- Impaired Loans Currently Days Accrual Special Currently Performing Performing Past Due Loans Mention Substandard Doubtful Total (Dollars in Thousands) One-to-four 145,069 896 270 744 983 — 147,962 Home equity line of credit 35,087 22 402 25 148 — 35,684 Junior liens 1,407 4 — 30 11 — 1,452 Multi-family 31,280 — — — 3,004 — 34,284 Construction 39,255 — — — — — 39,255 Land 15,581 — 7,675 35 549 — 23,840 Farmland 44,832 — — 674 2,290 — 47,796 Non-residential 172,395 — 208 3 10,334 — 182,940 Consumer loans 8,354 28 3 — 332 — 8,717 Commercial loans 84,913 261 516 603 2,614 — 88,907 Total 578,173 1,211 9,074 2,114 20,265 — 610,837 |
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 March 31, 2017 and December 31, 2016, by portfolio segment and based on the impairment method as of March 31, 2017 and December 31, 2016. Land Development / Commercial Residential Commercial Construction Real Estate Real Estate Consumer Total (Dollars in Thousands) March 31, 2017: Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ 201 105 88 — 98 $ 492 Collectively evaluated for impairment 1,115 469 2,512 1,434 142 5,672 Total ending allowance balance $ 1,316 574 2,600 1,434 240 $ 6,164 Loans: Loans individually evaluated for impairment $ 1,844 7,691 12,593 3,804 413 $ 26,345 Loans collectively evaluated for impairment 83,111 29,837 282,635 191,881 8,261 595,725 Total ending loans balance $ 84,955 37,528 295,228 195,685 8,674 $ 622,070 Land Development / Commercial Residential Commercial Construction Real Estate Real Estate Consumer Total (Dollars in Thousands) December 31, 2016: Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ 28 1,036 — — 84 $ 1,148 Collectively evaluated for impairment 565 1,001 2,154 1,120 124 4,964 Total ending allowance balance $ 593 2,037 2,154 1,120 208 $ 6,112 Loans: Loans individually evaluated for impairment $ 3,130 8,224 15,836 1,814 335 $ 29,339 Loans collectively evaluated for impairment 85,777 54,871 249,184 183,284 8,382 581,498 Total ending loans balance $ 88,907 63,095 265,020 185,098 8,717 $ 610,837 |
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 March 31, 2017 and December 31, 2016 were as follows: Specific Allowance Allowance for Loans Special Impaired Loans for not March 31, 2017 Pass Mention Substandard Doubtful Total Impairment Impaired (Dollars in Thousands) One-to-four $ 154,341 55 3,230 — 157,626 — 1,097 Home equity line of credit 36,132 — 562 — 36,694 — 328 Junior liens 1,324 29 12 — 1,365 — 9 Multi-family 37,668 — 815 — 38,483 — 593 Construction 17,386 — — — 17,386 — 141 Land 12,020 431 7,691 — 20,142 105 328 Farmland 40,588 693 1,531 — 42,812 35 631 Non-residential 202,168 1,518 10,247 — 213,933 53 1,288 Consumer loans 8,261 — 413 — 8,674 98 142 Commercial loans 82,857 254 1,844 — 84,955 201 1,115 Total $ 592,745 2,980 26,345 — 622,070 492 5,672 Specific Allowance Allowance for Loans Special Impaired Loans for not December 31, 2016 Pass Mention Substandard Doubtful Total Impairment Impaired (Dollars in Thousands) One-to-four $ 145,965 744 1,253 — 147,962 — 852 Home equity line of credit 35,109 25 550 — 35,684 — 260 Junior liens 1,411 30 11 — 1,452 — 8 Multi-family 31,280 — 3,004 — 34,284 — 412 Construction 39,255 — — — 39,255 — 277 Land 15,581 35 8,224 — 23,840 1,036 724 Farmland 44,832 674 2,290 — 47,796 — 778 Non-residential 172,395 3 10,542 — 182,940 — 964 Consumer loans 8,382 — 335 — 8,717 84 124 Commercial loans 85,174 603 3,130 — 88,907 28 565 Total $ 579,384 2,114 29,339 — 610,837 1,148 4,964 |
Impaired Loans by Classification Type | Impaired loans by classification type and the related valuation allowance amounts at March 31, 2017 were as follows: For the three month period ended At March 31, 2017 March 31, 2017 Unpaid Average Interest Recorded Principal Related Recorded Income Impaired loans with no specific allowance Investment Balance Allowance Investment Recognized (Dollars in Thousands) One-to-four $ 3,230 3,230 — 2,242 31 Home equity line of credit 562 562 — 556 10 Junior liens 12 12 — 12 — Multi-family 815 815 — 1,910 10 Construction — — — — — Land 1,020 1,980 — 1,287 9 Farmland 1,005 1,005 — 1,648 13 Non-residential 9,849 9,849 — 10,196 134 Consumer loans 18 18 — 9 — Commercial loans 1,336 1,336 — 2,101 12 Total 17,847 18,807 — 19,961 219 Impaired loans with a specific allowance One-to-four — — — — — Home equity line of credit — — — — — Junior liens — — — — — Multi-family — — — — — Construction — — — — — Land 6,671 6,671 105 6,671 — Farmland 526 526 35 263 — Non-residential 398 398 53 199 5 Consumer loans 395 395 98 365 — Commercial loans 508 508 201 387 3 Total 8,498 8,498 492 7,885 8 Total impaired loans $ 26,345 27,305 492 27,846 227 Impaired loans by classification type and the related valuation allowance amounts at December 31, 2016 were as follows: For the year ended At December 31, 2016 December 31, 2016 (Dollars in Thousands) Unpaid Average Interest Recorded Principal Related Recorded Income Impaired loans with no specific allowance Investment Balance Allowance Investment Recognized One-to-four $ 1,253 1,253 — 1,470 67 Home equity line of credit 550 550 — 390 24 Junior liens 11 11 — 13 1 Multi-family 3,004 3,004 — 3,005 172 Construction — — — — — Land 1,553 2,513 — 7,868 38 Farmland 2,290 2,290 — 1,563 120 Non-residential 10,542 10,542 — 9,363 485 Consumer loans — — — 21 1 Commercial loans 2,865 2,865 — 3,168 112 Total 22,068 23,028 — 26,861 1,020 Impaired loans with a specific allowance One-to-four — — — 452 — Home equity line of credit — — — — — Junior liens — — — — — Multi-family — — — 910 — Construction — — — — — Land 6,671 6,671 1,036 1,811 485 Farmland — — — 533 — Non-residential — — — — — Consumer loans 335 335 84 273 — Commercial loans 265 265 28 754 24 Total 7,271 7,271 1,148 4,733 509 Total impaired loans $ 29,339 30,299 1,148 31,594 1,529 |
Summary of the Activity in Loans Classified as TDRs | The following table provides the number of loans remaining in each category as of March 31, 2017 and December 31, 2016 that the Company had previously modified in a TDR: Post Modification Pre-Modification Outstanding Record Number of Outstanding Investment, net of Loans Record Investment related allowance March 31, 2017 Multi-family 3 $ 815,273 815,273 Non-residential 3 3,421,915 3,421,915 December 31, 2016 Multi-family 3 $ 815,273 815,273 Non-residential 5 5,646,223 5,646,223 |
Foreclosed Assets (Tables)
Foreclosed Assets (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Banking and Thrift [Abstract] | |
Presentation of Balances in Foreclosed Assets | At March 31, 2017 and December 31, 2016, the Company had balances in foreclosed assets consisting of the following: March 31, 2017 December 31, 2016 (Dollars in Thousands) One-to-four $ 135 135 Home equity line of credit 28 28 Multi-family real estate 1,775 1,775 Non-residential 173 459 Total other assets owned $ 2,111 2,397 |
Summary of Foreclosed Properties Activity | For the three month period ended March 31, 2017, the Company’s activity in foreclosed property included the following: Activity During 2017 Balance Reduction Gain (Loss) Balance 12/31/2016 Foreclosure Sales in Values on Sale 3/31/2017 (Dollars in Thousands) One-to-four $ 135 — — — — $ 135 HELOC 28 — — — — 28 Multi-family 1,775 — — — — 1,775 Non-residential 459 43 (329 ) — — 173 Total $ 2,397 43 (329 ) — — $ 2,111 For the three month period ended March 31, 2016, the Company’s activity in foreclosed property included the following: Activity During 2016 Balance Reduction Gain (Loss) Balance 12/31/2015 Foreclosure Sales in Values on Sale 3/31/2016 (Dollars in Thousands) One-to-four $ 55 — — — — $ 55 HELOC 943 — — — — 943 Non-residential 738 — (270 ) — (9 ) 459 Consumer — 12 (12 ) — — — Total $ 1,736 12 (282 ) — (9 ) $ 1,457 |
Fair Value of Assets and Liab28
Fair Value of Assets and Liabilities (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Fair Value Disclosures [Abstract] | |
Assets and Liabilities Measured at Fair Value on a Recurring Basis | The assets and liabilities measured at fair value on a recurring basis at March 31, 2017 are summarized below: Description Total carrying Quoted Prices Significant Significant (Dollars in Thousands) Assets Securities available for sale U.S. Treasury securities 2,000 2,000 — — U.S. Agency securities 90,755 — 90,755 — Taxable municipals 2,171 — 2,171 — Tax-free 34,113 — 34,113 — Trust preferred securities 1,732 — — 1,732 Mortgage backed securities 76,809 — 76,809 — Total 207,580 2,000 203,848 1,732 The assets and liabilities measured at fair value on a recurring basis at December 31, 2016 are summarized below: Description Total carrying Quoted Prices Significant Significant (Dollars in Thousands) Assets Securities available for sale U.S. Treasury securities 2,001 2,001 — — U.S. Agency securities 84,012 — 84,012 — Taxable municipals 2,727 — 2,727 — Tax-free 33,911 — 33,911 — Trust preferred securities 1,817 — — 1,817 Mortgage backed securities 85,012 — 85,012 — Total 209,480 2,001 205,662 1,817 |
Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis | The assets and liabilities measured at fair value on a non-recurring Total carrying Quoted Prices Significant value in the In Active Other Significant consolidated Markets for Observable Unobservable balance sheet at Identical Assets Inputs Inputs Description March 31, 2017 (Level 1) (Level 2) (Level 3) (Dollars in Thousands) Assets Foreclosed assets $ 2,111 — — $ 2,111 Impaired loans, net of allowance $ 8,006 — — $ 8,006 The assets and liabilities measured at fair value on a non-recurring Total carrying Quoted Prices Significant value in the In Active Other Significant consolidated Markets for Observable Unobservable balance sheet at Identical Assets Inputs Inputs Description December 31, 2016 (Level 1) (Level 2) (Level 3) (Dollars in Thousands) Assets Foreclosed assets $ 2,397 — — $ 2,397 Impaired loans, net of allowance $ 6,123 — — $ 6,123 |
Quantitative Information about Level 3 Fair Value Measurements for Assets Measured at Fair Value on Recurring and Non-recurring Basis | The following table presents quantitative information about level 3 fair value measurements for assets measured at fair value on a recurring and non-recurring Level 3 Significant Unobservable Input Assumptions Quantitative Range Fair Valuation Unobservable of Unobservable ` Value Technique Input Inputs (Dollars in Thousands) March 31, 2017 Assets measured on a non-recurring Foreclosed assets $ 2,111 Discount to appraised Appraisal comparability 30% to 55% Impaired loans 8,006 Discount to appraised Appraisal comparability 10% to 25% Asset measured on a recurring basis Trust preferred securities 1,732 Discounted cash flow Compare to quotes for One month libor December 31, 2016 Assets measured on a non-recurring Foreclosed assets $ 2,397 Discount to appraised Appraisal comparability 30% to 55% Impaired loans 6,123 Discount to appraised Appraisal comparability 10% to 15% Asset measured on a recurring basis Trust preferred securities 1,817 Discounted cash flow Compare to quotes for One month libor |
Roll-Forward of the Consolidated Condensed Statement of Financial Condition Items | The table below includes a roll-forward of the consolidated condensed statement of financial condition items for the three month periods ended March 31, 2017 and March 31, 2016, (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. 2017 2016 Three month period ended March 31, Other Assets Other Assets (Dollars in Thousands) Fair value, January 1 $ 1,817 1,865 Change in unrealized losses included in other comprehensive income for assets and liabilities still held at March 31 (89 ) 105 Accretion of previously discounted amounts 4 4 Purchases, issuances and settlements, net — — Transfers in and/or out of Level 3 — — Fair value, March 31 $ 1,732 1,974 |
Estimated Fair Values of Financial Instruments | The estimated fair values of financial instruments were as follows at March 31, 2017: Carrying Estimated Quoted Prices Using Significant (Dollars in Thousands) Financial Assets: Cash and due from banks $ 30,663 30,663 30,663 — — Interest-bearing deposits 19,408 19,408 19,408 — — Securities available for sale 207,580 207,580 2,000 203,848 1,732 Federal Home Loan Bank stock 4,428 4,428 — — 4,428 Loans held for sale 1,091 1,091 — 1,091 — Loans receivable 615,480 600,288 — — 600,288 Accrued interest receivable 3,121 3,121 — — 3,121 Financial liabilities: Deposits 765,743 766,415 — 766,415 — Advances from borrowers for taxes and insurance 867 867 — 867 — Advances from Federal Home Loan Bank 11,000 10,999 — 10,999 — Repurchase agreements 45,492 45,492 — 45,492 — Subordinated debentures 10,310 10,099 — — 10,099 The estimated fair values of financial instruments were as follows at December 31, 2016: Carrying Estimated Quoted Prices Using Significant (Dollars in Thousands) Financial Assets: Cash and due from banks $ 21,779 21,779 21,779 — — Interest-bearing deposits 3,970 3,970 3,970 — — Securities available for sale 209,480 209,480 2,001 205,662 1,817 Federal Home Loan Bank stock 4,428 4,428 — — 4,428 Loans held for sale 1,094 1,094 — 1,094 — Loans receivable 604,286 593,257 — — 593,257 Accrued interest receivable 3,799 3,799 — — 3,799 Financial liabilities: Deposits 732,882 732,942 — 732,942 — Advances from borrowers for taxes and insurance 766 766 — 766 — Advances from Federal Home Loan Bank 11,000 10,979 — 10,979 — Repurchase agreements 47,655 47,655 — 47,655 — Subordinated debentures 10,310 10,099 — — 10,099 |
Esop (Tables)
Esop (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Text Block [Abstract] | |
Summary of Shares Held by Employee Stock Ownership Plan (ESOP) | At March 31, 2017 and December 31, 2016, shares held by the ESOP were as follows: March 31, 2017 December 31, 2016 Accrued for allocation to participants 10,185 — Earned ESOP shares 101,654 101,654 Unearned ESOP shares 488,161 498,346 Total ESOP shares 600,000 600,000 Fair value of unearned shares $ 6,990,466 $ 6,707,737 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule of FHLB Borrowings | A schedule of FHLB borrowings at March 31, 2017 and December 31, 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) | 3 Months Ended |
Mar. 31, 2017 | |
Banking and Thrift [Abstract] | |
The Company's Consolidated Capital Ratios and the Bank's Actual Capital Amounts and Ratios | The Company’s consolidated capital ratios and the Bank’s actual capital amounts and ratios as of March 31, 2017 and December 31, 2016 are presented below: To be Well Minimum Capital Capitalized for Required – Basel III Prompt Corrective Actual Phase-In Action Provisions As of March 31, 2017 Amount Ratio Amount Ratio Amount Ratio (Dollars in Thousands) Tier 1 leverage capital to adjusted total assets Company $ 94,592 10.6 % $ 35,876 4.0 % $ 44,845 5.0 % Bank $ 93,585 10.5 % $ 35,752 4.0 % $ 44,690 5.0 % Total capital to risk weighted assets Company $ 100,756 16.1 % $ 57,792 9.25 % $ 62,478 10.0 % Bank $ 99,749 16.0 % $ 57,664 9.25 % $ 62,339 10.0 % Tier 1 capital to risk weighted assets Company $ 94,592 15.1 % $ 45,297 7.25 % $ 49,983 8.0 % Bank $ 93,585 15.0 % $ 45,196 7.25 % $ 49,871 8.0 % Common equity tier 1 capital to risk weighted assets Company $ 94,592 15.1 % $ 35,925 5.75 % n/a n/a Bank $ 93,585 15.0 % $ 35,845 5.75 % $ 40,520 6.5 % As of December 31, 2016 Tier 1 leverage capital to adjusted total assets Company $ 92,803 10.8 % $ 34,392 4.0 % $ 42,990 5.0 % Bank $ 91,617 10.7 % $ 34,315 4.0 % $ 42,894 5.0 % Total capital to risk weighted assets Company $ 98,915 16.2 % $ 52,682 8.625 % $ 61,080 10.0 % Bank $ 97,729 16.0 % $ 52,561 8.625 % $ 60,941 10.0 % Tier 1 capital to risk weighted assets Company $ 92,803 15.2 % $ 40,466 6.625 % $ 48,864 8.0 % Bank $ 91,617 15.0 % $ 40,373 6.625 % $ 48,753 8.0 % Common equity tier 1 capital to risk weighted assets Company $ 92,803 15.2 % $ 31,304 5.125 % n/a n/a Bank $ 91,617 15.0 % $ 31,232 5.125 % $ 39,611 6.5 % |
Basis of Presentation - Additio
Basis of Presentation - Additional Information (Detail) | Mar. 31, 2017 |
HopFed Capital Trust [Member] | Majority-Owned Subsidiary, Unconsolidated [Member] | |
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items] | |
Percent of common stock of HopFed Bancorp, Inc. | 100.00% |
Net Income Per Share - Reconcil
Net Income Per Share - Reconciliation of Basic and Diluted Income (Loss) Per Share (Detail) - USD ($) | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Basic IPS: | ||
Net income | $ 935,000 | $ 509,000 |
Average common shares outstanding | 6,218,706 | 6,297,755 |
Net income per share | $ 0.15 | $ 0.08 |
Diluted IPS: | ||
Net income | $ 935,000 | $ 509,000 |
Average common shares outstanding | 6,218,706 | 6,297,755 |
Dilutive effect of stock options | 0 | 0 |
Average diluted shares outstanding | 6,218,706 | 6,297,755 |
Net income per share, diluted | $ 0.15 | $ 0.08 |
Stock Compensation - Additional
Stock Compensation - Additional Information (Detail) - USD ($) | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
2004 Long Term Incentive Plan [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Compensation cost related to the HopFed Bancorp, Inc | $ 31,000 | $ 30,000 |
Restricted Stock [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Shares of restricted stock issued | 10,609 |
Stock Compensation - Company's
Stock Compensation - Company's Future Compensation Expense Related to Restricted Stock Vesting (Detail) $ in Thousands | Mar. 31, 2017USD ($) |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
2,017 | $ 57 |
2,018 | 54 |
2,019 | 9 |
2,020 | 2 |
Total | $ 122 |
Securities - Amortized Cost of
Securities - Amortized Cost of Securities and their Estimated Fair Values (Detail) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Schedule of Available-for-sale Securities [Line Items] | ||
FHLB stock | $ 4,428 | $ 4,428 |
FHLB stock | 4,428 | 4,428 |
Amortized Cost | 206,482 | 208,651 |
Gross Unrealized Gains | 2,541 | 2,702 |
Gross Unrealized Losses | (1,443) | (1,873) |
Estimated Fair Value | 207,580 | 209,480 |
Estimated Fair Value, Less than 12 months | 98,323 | 99,141 |
Unrealized Losses, Less than 12 months | (1,149) | (1,577) |
Estimated Fair Value, 12 months or longer | 11,749 | 10,898 |
Unrealized Losses, 12 months or longer | (294) | (296) |
Estimated Fair Value | 110,072 | 110,039 |
Unrealized Losses | (1,443) | (1,873) |
U.S. Agency Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 90,294 | 83,667 |
Gross Unrealized Gains | 929 | 983 |
Gross Unrealized Losses | (468) | (638) |
Estimated Fair Value | 90,755 | 84,012 |
U.S. Agency Securities [Member] | Temporarily Impaired Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Estimated Fair Value, Less than 12 months | 43,756 | 41,963 |
Unrealized Losses, Less than 12 months | (419) | (597) |
Estimated Fair Value, 12 months or longer | 3,380 | 3,459 |
Unrealized Losses, 12 months or longer | (49) | (41) |
Estimated Fair Value | 47,136 | 45,422 |
Unrealized Losses | (468) | (638) |
Taxable Municipals Bonds [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 2,164 | 2,720 |
Gross Unrealized Gains | 16 | 17 |
Gross Unrealized Losses | (9) | (10) |
Estimated Fair Value | 2,171 | 2,727 |
Taxable Municipals Bonds [Member] | Temporarily Impaired Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Estimated Fair Value, Less than 12 months | 794 | 1,347 |
Unrealized Losses, Less than 12 months | (9) | (10) |
Estimated Fair Value | 794 | 1,347 |
Unrealized Losses | (9) | (10) |
Tax Free Municipal Bonds [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 33,052 | 33,004 |
Gross Unrealized Gains | 1,128 | 1,081 |
Gross Unrealized Losses | (67) | (174) |
Estimated Fair Value | 34,113 | 33,911 |
Tax Free Municipal Bonds [Member] | Temporarily Impaired Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Estimated Fair Value, Less than 12 months | 5,408 | 7,369 |
Unrealized Losses, Less than 12 months | (67) | (174) |
Estimated Fair Value | 5,408 | 7,369 |
Unrealized Losses | (67) | (174) |
Mortgage-Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 77,334 | 85,626 |
Gross Unrealized Gains | 374 | 437 |
Gross Unrealized Losses | (899) | (1,051) |
Estimated Fair Value | 76,809 | 85,012 |
Mortgage-Backed Securities [Member] | Temporarily Impaired Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Estimated Fair Value, Less than 12 months | 48,365 | 48,462 |
Unrealized Losses, Less than 12 months | (654) | (796) |
Estimated Fair Value, 12 months or longer | 8,369 | 7,439 |
Unrealized Losses, 12 months or longer | (245) | (255) |
Estimated Fair Value | 56,734 | 55,901 |
Unrealized Losses | (899) | (1,051) |
U.S. Treasury Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 2,000 | 2,000 |
Gross Unrealized Gains | 1 | |
Estimated Fair Value | 2,000 | 2,001 |
Trust Preferred Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 1,638 | 1,634 |
Gross Unrealized Gains | 94 | 183 |
Estimated Fair Value | $ 1,732 | $ 1,817 |
Securities - Maturities of Debt
Securities - Maturities of Debt Securities Available for Sale (Detail) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized cost of debt securities available for sale, due within one year | $ 6,622 | |
Amortized cost of debt securities available for sale, due in one to five years | 20,553 | |
Amortized cost of debt securities available for sale, due in five to ten years | 30,572 | |
Amortized cost of debt securities available for sale, due after ten years | 11,024 | |
Total amortized cost debt securities available for sale with specific maturities | 68,771 | |
Total securities available-for-sale at amortized cost | 206,482 | $ 208,651 |
Estimated fair value of debt securities available for sale, due within one year | 6,624 | |
Estimated fair value of debt securities available for sale, due in one to five years | 20,748 | |
Estimated fair value of debt securities available for sale, due in five to ten years | 30,878 | |
Estimated fair value of debt securities available for sale, due after ten years | 11,515 | |
Total estimated fair value of debt securities available for sale with specific maturities | 69,765 | |
Total securities available for sale at estimated fair value | 207,580 | 209,480 |
Amortizing Agency Bonds [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total amortized cost of debt securities available for sale without specific maturities | 60,377 | |
Total estimated fair value of debt securities available for sale without specific maturities | 61,006 | |
Mortgage-Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total amortized cost of debt securities available for sale without specific maturities | 77,334 | |
Total securities available-for-sale at amortized cost | 77,334 | 85,626 |
Total estimated fair value of debt securities available for sale without specific maturities | 76,809 | |
Total securities available for sale at estimated fair value | $ 76,809 | $ 85,012 |
Securities - Additional Informa
Securities - Additional Information (Detail) $ in Millions | Mar. 31, 2017USD ($)Securities | Dec. 31, 2016USD ($) |
Investments, Debt and Equity Securities [Abstract] | ||
Number of securities with unrealized losses | Securities | 69 | |
Securities with market value sold under agreements to repurchase from various customers | $ 128.9 | $ 125.6 |
Securities pledged to municipalities for deposits in excess of FDIC limits, market value | $ 131.9 | $ 128.4 |
Loans - Additional Information
Loans - Additional Information (Detail) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2017USD ($)LoansSecurityLoan | Dec. 31, 2016USD ($)LoansSecurityLoan | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Concentrations of loans exceeding 10% of total loans | Loans | 0 | 0 |
Total loans past due more than 90 days and still accruing interest | $ 0 | $ 0 |
Number of additional TDRs | SecurityLoan | 0 | 8 |
Number of lending relationships | SecurityLoan | 2 | 3 |
Number of loans removed from TDR status | SecurityLoan | 1 | |
Troubled debt restructurings outstanding balance | $ 2,200,000 | |
Loans that have been modified as TDRs, subsequently defaulted | 0 | |
Commitments to lend additional funds to borrower | $ 0 | |
Consumer Loans [Member] | Minimum [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Fixed rate of interest period | 1 year | |
Consumer Loans [Member] | Maximum [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Fixed rate of interest period | 5 years | |
Commercial Loans [Member] | Minimum [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Fixed rate of interest period | 1 year | |
Commercial Loans [Member] | Maximum [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Fixed rate of interest period | 5 years | |
Multi-Family [Member] | Minimum [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Fixed rate of interest period | 5 years | |
Multi-Family [Member] | Maximum [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans amortization period | 20 years | |
Real Estate Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases receivable in percentage | 84.90% | 84.00% |
One-to-Four Family Mortgages [Member] | Maximum [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable maturity period | 30 years | |
Home Equity Line of Credit [Member] | Minimum [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable maturity period | 10 years | |
Home Equity Line of Credit [Member] | Maximum [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable maturity period | 15 years | |
Construction [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans amortization period | 20 years | |
Construction [Member] | Minimum [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable maturity period | 12 months | |
Construction [Member] | Maximum [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable maturity period | 24 months | |
Recreational Land Development Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans amortization period | 20 years | |
Recreational Land Development Loans [Member] | Minimum [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Fixed rate of interest period | 1 year | |
Recreational Land Development Loans [Member] | Maximum [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Fixed rate of interest period | 5 years | |
Farmland [Member] | Minimum [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Fixed rate of interest period | 5 years | |
Farmland [Member] | Maximum [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable maturity period | 20 years | |
Fixed rate of interest period | 10 years | |
Non-Residential Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable maturity period | 20 years | |
Non-Residential Real Estate [Member] | Minimum [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Fixed rate of interest period | 5 years | |
Non-Residential Real Estate [Member] | Maximum [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Fixed rate of interest period | 10 years |
Loans - Composition of Loan Por
Loans - Composition of Loan Portfolio By Type of Loan (Detail) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Real estate loans: | ||
Total loans, gross | $ 622,070 | $ 610,837 |
Deferred loan fees, net of costs | (426) | (439) |
Less allowance for loan losses | (6,164) | (6,112) |
Total loans, net | 615,480 | 604,286 |
Multi-Family [Member] | ||
Real estate loans: | ||
Total loans, gross | 38,483 | 34,284 |
Consumer Loans [Member] | ||
Real estate loans: | ||
Total loans, gross | 8,674 | 8,717 |
Less allowance for loan losses | (240) | (208) |
Commercial Loans [Member] | ||
Real estate loans: | ||
Total loans, gross | 84,955 | 88,907 |
Less allowance for loan losses | (1,316) | (593) |
Junior Liens [Member] | ||
Real estate loans: | ||
Total loans, gross | 1,365 | 1,452 |
Real Estate Loans [Member] | ||
Real estate loans: | ||
Total loans, gross | 528,441 | 513,213 |
Real Estate Loans [Member] | Multi-Family [Member] | ||
Real estate loans: | ||
Total loans, gross | 38,483 | 34,284 |
Real Estate Loans [Member] | One-to-Four Family Mortgages [Member] | ||
Real estate loans: | ||
Total loans, gross | 157,626 | 147,962 |
Real Estate Loans [Member] | Home Equity Line of Credit [Member] | ||
Real estate loans: | ||
Total loans, gross | 36,694 | 35,684 |
Real Estate Loans [Member] | Construction [Member] | ||
Real estate loans: | ||
Total loans, gross | 17,386 | 39,255 |
Real Estate Loans [Member] | Land [Member] | ||
Real estate loans: | ||
Total loans, gross | 20,142 | 23,840 |
Real Estate Loans [Member] | Farmland [Member] | ||
Real estate loans: | ||
Total loans, gross | 42,812 | 47,796 |
Real Estate Loans [Member] | Non-Residential Real Estate [Member] | ||
Real estate loans: | ||
Total loans, gross | 213,933 | 182,940 |
Real Estate Loans [Member] | Junior Liens [Member] | ||
Real estate loans: | ||
Total loans, gross | 1,365 | 1,452 |
Total Other Loans [Member] | ||
Real estate loans: | ||
Total loans, gross | 93,629 | 97,624 |
Total Other Loans [Member] | Consumer Loans [Member] | ||
Real estate loans: | ||
Total loans, gross | 8,674 | 8,717 |
Total Other Loans [Member] | Commercial Loans [Member] | ||
Real estate loans: | ||
Total loans, gross | $ 84,955 | $ 88,907 |
Loans - Allowance for Loan Loss
Loans - Allowance for Loan Loss Account by Loan (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | Dec. 31, 2016 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning balance | $ 6,112 | $ 5,700 | $ 5,700 |
Charge off | (292) | (83) | (1,468) |
Recovery | 53 | 639 | |
General Provision | 709 | (108) | |
Specific Provision | (418) | 1,349 | |
Ending balance | 6,164 | 6,112 | |
Multi-Family [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning balance | 412 | 227 | 227 |
Charge off | (421) | ||
General Provision | 181 | 323 | |
Specific Provision | 283 | ||
Ending balance | 593 | 412 | |
One-to-Four Family Mortgages [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning balance | 852 | 1,030 | 1,030 |
Recovery | 3 | 167 | |
General Provision | 245 | (118) | |
Specific Provision | (3) | (227) | |
Ending balance | 1,097 | 852 | |
Home Equity Line of Credit [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning balance | 260 | 201 | 201 |
Charge off | (30) | ||
Recovery | 2 | 14 | |
General Provision | 68 | 59 | |
Specific Provision | (2) | 16 | |
Ending balance | 328 | 260 | |
Construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning balance | 277 | 377 | 377 |
General Provision | (136) | (100) | |
Ending balance | 141 | 277 | |
Land [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning balance | 1,760 | 1,379 | 1,379 |
General Provision | (396) | (586) | |
Specific Provision | (931) | 967 | |
Ending balance | 433 | 1,760 | |
Non-Residential Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning balance | 778 | 358 | 358 |
General Provision | (147) | 420 | |
Specific Provision | 35 | ||
Ending balance | 666 | 778 | |
Farmland [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning balance | 964 | 1,139 | 1,139 |
Recovery | 6 | 10 | |
General Provision | 324 | (41) | |
Specific Provision | 47 | (144) | |
Ending balance | 1,341 | 964 | |
Junior Liens [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning balance | 8 | 8 | 8 |
Recovery | 1 | 14 | |
General Provision | 1 | ||
Specific Provision | (1) | (14) | |
Ending balance | 9 | 8 | |
Consumer Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning balance | 208 | 358 | 358 |
Charge off | (68) | (422) | |
Recovery | 33 | 293 | |
General Provision | 18 | (187) | |
Specific Provision | 49 | 166 | |
Ending balance | 240 | 208 | |
Commercial Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning balance | 593 | $ 623 | 623 |
Charge off | (224) | (595) | |
Recovery | 8 | 141 | |
General Provision | 551 | 122 | |
Specific Provision | 388 | 302 | |
Ending balance | $ 1,316 | $ 593 |
Loans - Loan Balances by Loan C
Loans - Loan Balances by Loan Classification Allocated Between Past Due Performing and Non-performing (Detail) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Currently Performing | $ 591,999 | $ 578,173 |
30 - 89 Days Past Due | 746 | 1,211 |
Non-accrual Loans | 8,944 | 9,074 |
Special Mention | 2,980 | 2,114 |
Impaired Loans Currently Performing Substandard | 17,401 | 20,265 |
Impaired Loans Currently Performing Doubtful | 0 | 0 |
Total loans, gross | 622,070 | 610,837 |
Multi-Family [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Currently Performing | 37,668 | 31,280 |
Impaired Loans Currently Performing Substandard | 815 | 3,004 |
Impaired Loans Currently Performing Doubtful | 0 | 0 |
Total loans, gross | 38,483 | 34,284 |
One-to-Four Family Mortgages [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Currently Performing | 153,653 | 145,069 |
30 - 89 Days Past Due | 688 | 896 |
Non-accrual Loans | 248 | 270 |
Special Mention | 55 | 744 |
Impaired Loans Currently Performing Substandard | 2,982 | 983 |
Impaired Loans Currently Performing Doubtful | 0 | 0 |
Total loans, gross | 157,626 | 147,962 |
Home Equity Line of Credit [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Currently Performing | 36,132 | 35,087 |
30 - 89 Days Past Due | 22 | |
Non-accrual Loans | 402 | 402 |
Special Mention | 25 | |
Impaired Loans Currently Performing Substandard | 160 | 148 |
Impaired Loans Currently Performing Doubtful | 0 | 0 |
Total loans, gross | 36,694 | 35,684 |
Construction [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Currently Performing | 17,386 | 39,255 |
Impaired Loans Currently Performing Doubtful | 0 | 0 |
Total loans, gross | 17,386 | 39,255 |
Land [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Currently Performing | 12,020 | 15,581 |
Non-accrual Loans | 7,234 | 7,675 |
Special Mention | 431 | 35 |
Impaired Loans Currently Performing Substandard | 457 | 549 |
Impaired Loans Currently Performing Doubtful | 0 | 0 |
Total loans, gross | 20,142 | 23,840 |
Farmland [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Currently Performing | 40,588 | 44,832 |
Non-accrual Loans | 338 | |
Special Mention | 693 | 674 |
Impaired Loans Currently Performing Substandard | 1,193 | 2,290 |
Impaired Loans Currently Performing Doubtful | 0 | 0 |
Total loans, gross | 42,812 | 47,796 |
Non-Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Currently Performing | 202,168 | 172,395 |
Non-accrual Loans | 210 | 208 |
Special Mention | 1,518 | 3 |
Impaired Loans Currently Performing Substandard | 10,037 | 10,334 |
Impaired Loans Currently Performing Doubtful | 0 | 0 |
Total loans, gross | 213,933 | 182,940 |
Junior Liens [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Currently Performing | 1,320 | 1,407 |
30 - 89 Days Past Due | 4 | 4 |
Special Mention | 29 | 30 |
Impaired Loans Currently Performing Substandard | 12 | 11 |
Impaired Loans Currently Performing Doubtful | 0 | 0 |
Total loans, gross | 1,365 | 1,452 |
Consumer Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Currently Performing | 8,239 | 8,354 |
30 - 89 Days Past Due | 22 | 28 |
Non-accrual Loans | 119 | 3 |
Impaired Loans Currently Performing Substandard | 294 | 332 |
Impaired Loans Currently Performing Doubtful | 0 | 0 |
Total loans, gross | 8,674 | 8,717 |
Commercial Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Currently Performing | 82,825 | 84,913 |
30 - 89 Days Past Due | 32 | 261 |
Non-accrual Loans | 393 | 516 |
Special Mention | 254 | 603 |
Impaired Loans Currently Performing Substandard | 1,451 | 2,614 |
Impaired Loans Currently Performing Doubtful | 0 | 0 |
Total loans, gross | $ 84,955 | $ 88,907 |
Loans - Allowance for Loan Lo43
Loans - Allowance for Loan Losses and Recorded Investment in Loans by Portfolio Segment and Impairment Method (Detail) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Individually evaluated for impairment | $ 492 | $ 1,148 |
Collectively evaluated for impairment | 5,672 | 4,964 |
Total ending allowance balance | 6,164 | 6,112 |
Loans individually evaluated for impairment | 26,345 | 29,339 |
Loans collectively evaluated for impairment | 595,725 | 581,498 |
Total ending loans balance | 622,070 | 610,837 |
Commercial Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Individually evaluated for impairment | 201 | 28 |
Collectively evaluated for impairment | 1,115 | 565 |
Total ending allowance balance | 1,316 | 593 |
Loans individually evaluated for impairment | 1,844 | 3,130 |
Loans collectively evaluated for impairment | 83,111 | 85,777 |
Total ending loans balance | 84,955 | 88,907 |
Land Development/Construction [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Individually evaluated for impairment | 105 | 1,036 |
Collectively evaluated for impairment | 469 | 1,001 |
Total ending allowance balance | 574 | 2,037 |
Loans individually evaluated for impairment | 7,691 | 8,224 |
Loans collectively evaluated for impairment | 29,837 | 54,871 |
Total ending loans balance | 37,528 | 63,095 |
Commercial Real Estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Individually evaluated for impairment | 88 | |
Collectively evaluated for impairment | 2,512 | 2,154 |
Total ending allowance balance | 2,600 | 2,154 |
Loans individually evaluated for impairment | 12,593 | 15,836 |
Loans collectively evaluated for impairment | 282,635 | 249,184 |
Total ending loans balance | 295,228 | 265,020 |
Residential Real Estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Collectively evaluated for impairment | 1,434 | 1,120 |
Total ending allowance balance | 1,434 | 1,120 |
Loans individually evaluated for impairment | 3,804 | 1,814 |
Loans collectively evaluated for impairment | 191,881 | 183,284 |
Total ending loans balance | 195,685 | 185,098 |
Consumer Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Individually evaluated for impairment | 98 | 84 |
Collectively evaluated for impairment | 142 | 124 |
Total ending allowance balance | 240 | 208 |
Loans individually evaluated for impairment | 413 | 335 |
Loans collectively evaluated for impairment | 8,261 | 8,382 |
Total ending loans balance | $ 8,674 | $ 8,717 |
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 | Mar. 31, 2017 | Dec. 31, 2016 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | $ 622,070 | $ 610,837 |
Specific Allowance for Impairment | 492 | 1,148 |
Allowance for Loans not Impaired | 5,672 | 4,964 |
Multi-Family [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 38,483 | 34,284 |
Allowance for Loans not Impaired | 593 | 412 |
One-to-Four Family Mortgages [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 157,626 | 147,962 |
Allowance for Loans not Impaired | 1,097 | 852 |
Home Equity Line of Credit [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 36,694 | 35,684 |
Allowance for Loans not Impaired | 328 | 260 |
Construction [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 17,386 | 39,255 |
Allowance for Loans not Impaired | 141 | 277 |
Land [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 20,142 | 23,840 |
Specific Allowance for Impairment | 105 | 1,036 |
Allowance for Loans not Impaired | 328 | 724 |
Non-Residential Real Estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 213,933 | 182,940 |
Specific Allowance for Impairment | 53 | |
Allowance for Loans not Impaired | 1,288 | 964 |
Farmland [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 42,812 | 47,796 |
Specific Allowance for Impairment | 35 | |
Allowance for Loans not Impaired | 631 | 778 |
Junior Liens [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 1,365 | 1,452 |
Allowance for Loans not Impaired | 9 | 8 |
Consumer Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 8,674 | 8,717 |
Specific Allowance for Impairment | 98 | 84 |
Allowance for Loans not Impaired | 142 | 124 |
Commercial Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 84,955 | 88,907 |
Specific Allowance for Impairment | 201 | 28 |
Allowance for Loans not Impaired | 1,115 | 565 |
Pass [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 592,745 | 579,384 |
Pass [Member] | Multi-Family [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 37,668 | 31,280 |
Pass [Member] | One-to-Four Family Mortgages [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 154,341 | 145,965 |
Pass [Member] | Home Equity Line of Credit [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 36,132 | 35,109 |
Pass [Member] | Construction [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 17,386 | 39,255 |
Pass [Member] | Land [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 12,020 | 15,581 |
Pass [Member] | Non-Residential Real Estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 202,168 | 172,395 |
Pass [Member] | Farmland [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 40,588 | 44,832 |
Pass [Member] | Junior Liens [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 1,324 | 1,411 |
Pass [Member] | Consumer Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 8,261 | 8,382 |
Pass [Member] | Commercial Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 82,857 | 85,174 |
Special Mention [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 2,980 | 2,114 |
Special Mention [Member] | One-to-Four Family Mortgages [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 55 | 744 |
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 | 431 | 35 |
Special Mention [Member] | Non-Residential Real Estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 1,518 | 3 |
Special Mention [Member] | Farmland [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 693 | 674 |
Special Mention [Member] | Junior Liens [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 29 | 30 |
Special Mention [Member] | Commercial Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 254 | 603 |
Impaired Loans Substandard [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 26,345 | 29,339 |
Impaired Loans Substandard [Member] | Multi-Family [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 815 | 3,004 |
Impaired Loans Substandard [Member] | One-to-Four Family Mortgages [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 3,230 | 1,253 |
Impaired Loans Substandard [Member] | Home Equity Line of Credit [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 562 | 550 |
Impaired Loans Substandard [Member] | Land [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 7,691 | 8,224 |
Impaired Loans Substandard [Member] | Non-Residential Real Estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 10,247 | 10,542 |
Impaired Loans Substandard [Member] | Farmland [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 1,531 | 2,290 |
Impaired Loans Substandard [Member] | Junior Liens [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 12 | 11 |
Impaired Loans Substandard [Member] | Consumer Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 413 | 335 |
Impaired Loans Substandard [Member] | Commercial Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | $ 1,844 | $ 3,130 |
Loans - Impaired Loans by Class
Loans - Impaired Loans by Classification Type (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2017 | Dec. 31, 2016 | |
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment | $ 17,847 | $ 22,068 |
Total impaired loans Recorded Investment | 26,345 | 29,339 |
Unpaid Principal Balance | 18,807 | 23,028 |
Total impaired loans Unpaid Principal Balance | 27,305 | 30,299 |
Related Allowance | 0 | 0 |
Average Recorded Investment | 19,961 | 26,861 |
Interest Income Recognized | 219 | 1,020 |
Recorded Investment | 8,498 | 7,271 |
Unpaid Principal Balance | 8,498 | 7,271 |
Related Allowance | 492 | 1,148 |
Average Recorded Investment | 7,885 | 4,733 |
Total impaired loans Average Recorded Investment | 27,846 | 31,594 |
Interest Income Recognized | 8 | 509 |
Total impaired loans Interest Income Recognized | 227 | 1,529 |
Multi-Family [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment | 815 | 3,004 |
Unpaid Principal Balance | 815 | 3,004 |
Related Allowance | 0 | 0 |
Average Recorded Investment | 1,910 | 3,005 |
Interest Income Recognized | 10 | 172 |
Average Recorded Investment | 910 | |
One-to-Four Family Mortgages [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment | 3,230 | 1,253 |
Unpaid Principal Balance | 3,230 | 1,253 |
Related Allowance | 0 | 0 |
Average Recorded Investment | 2,242 | 1,470 |
Interest Income Recognized | 31 | 67 |
Average Recorded Investment | 452 | |
Home Equity Line of Credit [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment | 562 | 550 |
Unpaid Principal Balance | 562 | 550 |
Related Allowance | 0 | 0 |
Average Recorded Investment | 556 | 390 |
Interest Income Recognized | 10 | 24 |
Construction [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Related Allowance | 0 | 0 |
Land [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment | 1,020 | 1,553 |
Unpaid Principal Balance | 1,980 | 2,513 |
Related Allowance | 0 | 0 |
Average Recorded Investment | 1,287 | 7,868 |
Interest Income Recognized | 9 | 38 |
Recorded Investment | 6,671 | 6,671 |
Unpaid Principal Balance | 6,671 | 6,671 |
Related Allowance | 105 | 1,036 |
Average Recorded Investment | 6,671 | 1,811 |
Interest Income Recognized | 485 | |
Non-Residential Real Estate [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment | 1,005 | 10,542 |
Unpaid Principal Balance | 1,005 | 10,542 |
Related Allowance | 0 | 0 |
Average Recorded Investment | 1,648 | 9,363 |
Interest Income Recognized | 13 | 485 |
Recorded Investment | 398 | |
Unpaid Principal Balance | 398 | |
Related Allowance | 53 | |
Average Recorded Investment | 199 | |
Interest Income Recognized | 5 | |
Farmland [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment | 9,849 | 2,290 |
Unpaid Principal Balance | 9,849 | 2,290 |
Related Allowance | 0 | 0 |
Average Recorded Investment | 10,196 | 1,563 |
Interest Income Recognized | 134 | 120 |
Recorded Investment | 526 | |
Unpaid Principal Balance | 526 | |
Related Allowance | 35 | |
Average Recorded Investment | 263 | 533 |
Junior Liens [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment | 12 | 11 |
Unpaid Principal Balance | 12 | 11 |
Related Allowance | 0 | 0 |
Average Recorded Investment | 12 | 13 |
Interest Income Recognized | 1 | |
Consumer Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment | 18 | |
Unpaid Principal Balance | 18 | |
Related Allowance | 0 | 0 |
Average Recorded Investment | 9 | 21 |
Interest Income Recognized | 1 | |
Recorded Investment | 395 | 335 |
Unpaid Principal Balance | 395 | 335 |
Related Allowance | 98 | 84 |
Average Recorded Investment | 365 | 273 |
Commercial Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment | 1,336 | 2,865 |
Unpaid Principal Balance | 1,336 | 2,865 |
Related Allowance | 0 | 0 |
Average Recorded Investment | 2,101 | 3,168 |
Interest Income Recognized | 12 | 112 |
Recorded Investment | 508 | 265 |
Unpaid Principal Balance | 508 | 265 |
Related Allowance | 201 | 28 |
Average Recorded Investment | 387 | 754 |
Interest Income Recognized | $ 3 | $ 24 |
Loans - Summary of the Activity
Loans - Summary of the Activity in Loans Classified as TDRs (Detail) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2017USD ($)Contracts | Dec. 31, 2016USD ($)Contracts | |
Multi-Family [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | Contracts | 3 | 3 |
Pre-Modification Outstanding Record Investment | $ 815,273 | $ 815,273 |
Post Modification Outstanding Record Investment, net of related allowance | $ 815,273 | $ 815,273 |
Non-Residential Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | Contracts | 3 | 5 |
Pre-Modification Outstanding Record Investment | $ 3,421,915 | $ 5,646,223 |
Post Modification Outstanding Record Investment, net of related allowance | $ 3,421,915 | $ 5,646,223 |
Foreclosed Assets - Additional
Foreclosed Assets - Additional Information (Detail) | 3 Months Ended |
Mar. 31, 2017USD ($) | |
Banking and Thrift, Interest [Abstract] | |
Minimum book balance for appraisal on all foreclosed assets | $ 250,000 |
Foreclosed Assets - Presentatio
Foreclosed Assets - Presentation of Balances in Foreclosed Assets (Detail) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 | Mar. 31, 2016 | Dec. 31, 2015 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Total other assets owned | $ 2,111 | $ 2,397 | $ 1,457 | $ 1,736 |
Multi-Family [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Total other assets owned | 1,775 | 1,775 | ||
One-to-Four Family Mortgages [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Total other assets owned | 135 | 135 | 55 | 55 |
Home Equity Line of Credit [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Total other assets owned | 28 | 28 | 943 | 943 |
Non-Residential Real Estate [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Total other assets owned | $ 173 | $ 459 | $ 459 | $ 738 |
Foreclosed Assets - Summary of
Foreclosed Assets - Summary of Foreclosed Properties Activity (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Beginning Balance | $ 2,397 | $ 1,736 |
Foreclosure | 43 | 12 |
Sales | (329) | (282) |
Reduction in Values | 0 | 0 |
Gain (Loss) on Sale | (9) | |
Ending Balance | 2,111 | 1,457 |
Multi-Family [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Beginning Balance | 1,775 | |
Reduction in Values | 0 | |
Ending Balance | 1,775 | |
Consumer Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Foreclosure | 12 | |
Sales | (12) | |
Reduction in Values | 0 | |
One-to-Four Family Mortgages [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Beginning Balance | 135 | 55 |
Reduction in Values | 0 | 0 |
Ending Balance | 135 | 55 |
Home Equity Line of Credit [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Beginning Balance | 28 | 943 |
Reduction in Values | 0 | 0 |
Ending Balance | 28 | 943 |
Non-Residential Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Beginning Balance | 459 | 738 |
Foreclosure | 43 | |
Sales | (329) | (270) |
Reduction in Values | 0 | 0 |
Gain (Loss) on Sale | (9) | |
Ending Balance | $ 173 | $ 459 |
Fair Value of Assets and Liab50
Fair Value of Assets and Liabilities - Additional information (Detail) | 3 Months Ended |
Mar. 31, 2017 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract] | |
Maturity period of cash and cash equivalents | 90 days |
Interest rate to be received under swap agreement adjusted quarterly | Three month libor plus 3.10% |
Percentage above LIBOR | 3.10% |
Fair Value of Assets and Liab51
Fair Value of Assets and Liabilities - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Detail) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Assets | ||
Securities available for sale | $ 207,580 | $ 209,480 |
U.S. Treasury Securities [Member] | ||
Assets | ||
Securities available for sale | 2,000 | 2,001 |
U.S. Agency Securities [Member] | ||
Assets | ||
Securities available for sale | 90,755 | 84,012 |
Taxable Municipals Bonds [Member] | ||
Assets | ||
Securities available for sale | 2,171 | 2,727 |
Tax Free Municipal Bonds [Member] | ||
Assets | ||
Securities available for sale | 34,113 | 33,911 |
Trust Preferred Securities [Member] | ||
Assets | ||
Securities available for sale | 1,732 | 1,817 |
Mortgage-Backed Securities [Member] | ||
Assets | ||
Securities available for sale | 76,809 | 85,012 |
Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Securities available for sale | 207,580 | 209,480 |
Fair Value, Measurements, Recurring [Member] | U.S. Treasury Securities [Member] | ||
Assets | ||
Securities available for sale | 2,000 | 2,001 |
Fair Value, Measurements, Recurring [Member] | U.S. Agency Securities [Member] | ||
Assets | ||
Securities available for sale | 90,755 | 84,012 |
Fair Value, Measurements, Recurring [Member] | Taxable Municipals Bonds [Member] | ||
Assets | ||
Securities available for sale | 2,171 | 2,727 |
Fair Value, Measurements, Recurring [Member] | Tax Free Municipal Bonds [Member] | ||
Assets | ||
Securities available for sale | 34,113 | 33,911 |
Fair Value, Measurements, Recurring [Member] | Trust Preferred Securities [Member] | ||
Assets | ||
Securities available for sale | 1,732 | 1,817 |
Fair Value, Measurements, Recurring [Member] | Mortgage-Backed Securities [Member] | ||
Assets | ||
Securities available for sale | 76,809 | 85,012 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Assets | ||
Securities available for sale | 2,000 | 2,001 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Securities available for sale | 2,000 | 2,001 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Fair Value, Measurements, Recurring [Member] | U.S. Treasury Securities [Member] | ||
Assets | ||
Securities available for sale | 2,000 | 2,001 |
Significant Other Observable Inputs (Level 2) [Member] | ||
Assets | ||
Securities available for sale | 203,848 | 205,662 |
Significant Other Observable Inputs (Level 2) [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Securities available for sale | 203,848 | 205,662 |
Significant Other Observable Inputs (Level 2) [Member] | Fair Value, Measurements, Recurring [Member] | U.S. Agency Securities [Member] | ||
Assets | ||
Securities available for sale | 90,755 | 84,012 |
Significant Other Observable Inputs (Level 2) [Member] | Fair Value, Measurements, Recurring [Member] | Taxable Municipals Bonds [Member] | ||
Assets | ||
Securities available for sale | 2,171 | 2,727 |
Significant Other Observable Inputs (Level 2) [Member] | Fair Value, Measurements, Recurring [Member] | Tax Free Municipal Bonds [Member] | ||
Assets | ||
Securities available for sale | 34,113 | 33,911 |
Significant Other Observable Inputs (Level 2) [Member] | Fair Value, Measurements, Recurring [Member] | Mortgage-Backed Securities [Member] | ||
Assets | ||
Securities available for sale | 76,809 | 85,012 |
Significant Unobservable Inputs (Level 3) [Member] | ||
Assets | ||
Securities available for sale | 1,732 | 1,817 |
Significant Unobservable Inputs (Level 3) [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Securities available for sale | 1,732 | 1,817 |
Significant Unobservable Inputs (Level 3) [Member] | Fair Value, Measurements, Recurring [Member] | Trust Preferred Securities [Member] | ||
Assets | ||
Securities available for sale | $ 1,732 | $ 1,817 |
Fair Value of Assets and Liab52
Fair Value of Assets and Liabilities - Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis (Detail) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 | Mar. 31, 2016 | Dec. 31, 2015 |
Assets | ||||
Foreclosed assets | $ 2,111 | $ 2,397 | $ 1,457 | $ 1,736 |
Fair Value, Measurements, Nonrecurring [Member] | ||||
Assets | ||||
Foreclosed assets | 2,111 | 2,397 | ||
Impaired loans, net of allowance | 8,006 | 6,123 | ||
Significant Unobservable Inputs (Level 3) [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||||
Assets | ||||
Foreclosed assets | 2,111 | 2,397 | ||
Impaired loans, net of allowance | $ 8,006 | $ 6,123 |
Fair Value of Assets and Liab53
Fair Value of Assets and Liabilities - Quantitative Information about Level 3 Fair Value Measurements for Assets Measured at Fair Value on Recurring and Non-recurring Basis (Detail) - Significant Unobservable Inputs (Level 3) [Member] - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2017 | Dec. 31, 2016 | |
Fair Value, Measurements, Nonrecurring [Member] | Foreclosed Assets [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair Value | $ 2,111 | $ 2,397 |
Valuation Technique | Discount to appraised value of collateral | Discount to appraised value of collateral |
Unobservable Input | Appraisal comparability adjustments | Appraisal comparability adjustments |
Fair Value, Measurements, Nonrecurring [Member] | Impaired Loans [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair Value | $ 8,006 | $ 6,123 |
Valuation Technique | Discount to appraised value of collateral | Discount to appraised value of collateral |
Unobservable Input | Appraisal comparability adjustments | Appraisal comparability adjustments |
Fair Value, Measurements, Nonrecurring [Member] | Minimum [Member] | Foreclosed Assets [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Quantitative Range of Unobservable Inputs, Percentage | 30.00% | 30.00% |
Fair Value, Measurements, Nonrecurring [Member] | Minimum [Member] | Impaired Loans [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Quantitative Range of Unobservable Inputs, Percentage | 10.00% | 10.00% |
Fair Value, Measurements, Nonrecurring [Member] | Maximum [Member] | Foreclosed Assets [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Quantitative Range of Unobservable Inputs, Percentage | 55.00% | 55.00% |
Fair Value, Measurements, Nonrecurring [Member] | Maximum [Member] | Impaired Loans [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Quantitative Range of Unobservable Inputs, Percentage | 25.00% | 15.00% |
Fair Value, Measurements, Recurring [Member] | Trust Preferred Securities [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair Value | $ 1,732 | $ 1,817 |
Valuation Technique | Discounted cash flow Spread to Libor swap curve | Discounted cash flow Spread to Libor swap curve |
Unobservable Input | Compare to quotes for sale when available | Compare to quotes for sale when available |
Quantitative Range of Unobservable Inputs, Description | One month libor | One month libor |
Fair Value, Measurements, Recurring [Member] | Minimum [Member] | Trust Preferred Securities [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Quantitative Range of Unobservable Inputs, Percentage | 4.00% | 4.00% |
Fair Value, Measurements, Recurring [Member] | Maximum [Member] | Trust Preferred Securities [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Quantitative Range of Unobservable Inputs, Percentage | 6.00% | 6.00% |
Fair Value of Assets and Liab54
Fair Value of Assets and Liabilities - Roll-Forward of the Consolidated Condensed Statement of Financial Condition Items (Detail) - Other Assets [Member] - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Fair value, Beginning balance | $ 1,817 | $ 1,865 |
Change in unrealized losses included in other comprehensive income for assets and liabilities still held at March 31 | (89) | 105 |
Accretion of previously discounted amounts | 4 | 4 |
Purchases, issuances and settlements, net | 0 | 0 |
Transfers in and/or out of Level 3 | 0 | 0 |
Fair value, Ending balance | $ 1,732 | $ 1,974 |
Fair Value of Assets and Liab55
Fair Value of Assets and Liabilities - Estimated Fair Values of Financial Instruments (Detail) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Financial Assets: | ||
Securities available for sale | $ 207,580 | $ 209,480 |
Financial liabilities: | ||
Repurchase agreements | 128,900 | 125,600 |
Amortized Cost [Member] | ||
Financial Assets: | ||
Cash and due from banks | 30,663 | 21,779 |
Interest-bearing deposits | 19,408 | 3,970 |
Securities available for sale | 207,580 | 209,480 |
Federal Home Loan Bank stock | 4,428 | 4,428 |
Loans held for sale | 1,091 | 1,094 |
Loans receivable | 615,480 | 604,286 |
Accrued interest receivable | 3,121 | 3,799 |
Financial liabilities: | ||
Deposits | 765,743 | 732,882 |
Advances from borrowers for taxes and insurance | 867 | 766 |
Advances from Federal Home Loan Bank | 11,000 | 11,000 |
Repurchase agreements | 45,492 | 47,655 |
Subordinated debentures | 10,310 | 10,310 |
Estimated Fair Value [Member] | ||
Financial Assets: | ||
Cash and due from banks | 30,663 | 21,779 |
Interest-bearing deposits | 19,408 | 3,970 |
Securities available for sale | 207,580 | 209,480 |
Federal Home Loan Bank stock | 4,428 | 4,428 |
Loans held for sale | 1,091 | 1,094 |
Loans receivable | 600,288 | 593,257 |
Accrued interest receivable | 3,121 | 3,799 |
Financial liabilities: | ||
Deposits | 766,415 | 732,942 |
Advances from borrowers for taxes and insurance | 867 | 766 |
Advances from Federal Home Loan Bank | 10,999 | 10,979 |
Repurchase agreements | 45,492 | 47,655 |
Subordinated debentures | 10,099 | 10,099 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Financial Assets: | ||
Cash and due from banks | 30,663 | 21,779 |
Interest-bearing deposits | 19,408 | 3,970 |
Securities available for sale | 2,000 | 2,001 |
Significant Other Observable Inputs (Level 2) [Member] | ||
Financial Assets: | ||
Securities available for sale | 203,848 | 205,662 |
Loans held for sale | 1,091 | 1,094 |
Financial liabilities: | ||
Deposits | 766,415 | 732,942 |
Advances from borrowers for taxes and insurance | 867 | 766 |
Advances from Federal Home Loan Bank | 10,999 | 10,979 |
Repurchase agreements | 45,492 | 47,655 |
Significant Unobservable Inputs (Level 3) [Member] | ||
Financial Assets: | ||
Securities available for sale | 1,732 | 1,817 |
Federal Home Loan Bank stock | 4,428 | 4,428 |
Loans receivable | 600,288 | 593,257 |
Accrued interest receivable | 3,121 | 3,799 |
Financial liabilities: | ||
Subordinated debentures | $ 10,099 | $ 10,099 |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) - USD ($) | 3 Months Ended | ||
Mar. 31, 2017 | Mar. 31, 2016 | Dec. 31, 2016 | |
Income Tax Benefit [Line Items] | |||
Unrecognized tax benefits | $ 0 | ||
Effective tax rate | 35.00% | ||
Effective tax rate | 12.60% | 8.30% | |
Bank owned life insurance | $ 10,120,000 | $ 10,662,000 | |
Proceeds from life insurance policy | 170,000 | ||
Securities available for sale | $ 207,580,000 | 209,480,000 | |
Tennessee [Member] | |||
Income Tax Benefit [Line Items] | |||
Effective tax rate | 6.50% | ||
Tax Free Municipal Bonds [Member] | |||
Income Tax Benefit [Line Items] | |||
Securities available for sale | $ 34,113,000 | $ 33,911,000 |
Esop - Additional Information (
Esop - Additional Information (Detail) - USD ($) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2017 | Dec. 31, 2016 | |
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items] | ||
Total ESOP shares | 600,000 | 600,000 |
ESOP common stock, per share | $ 13.14 | |
ESOP borrowed | $ 7,900,000 | |
Accrued ESOP contribution liability | $ 195,000 | |
2015 HopFed Bancorp, Inc. Employee Stock Ownership Plan ("ESOP") [Member] | ||
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items] | ||
Employee stock ownership plan employee minimum service period | 1 year | |
Minimum age eligibility of employee | 21 years |
Esop - Summary of Shares Held b
Esop - Summary of Shares Held by Employee Stock Ownership Plan (ESOP) (Detail) - USD ($) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2017 | Dec. 31, 2016 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||
Accrued for allocation to participants | 10,185 | |
Earned ESOP shares | 101,654 | 101,654 |
Unearned ESOP shares | 488,161 | 498,346 |
Total ESOP shares | 600,000 | 600,000 |
Fair value of unearned shares | $ 6,990,466 | $ 6,707,737 |
Commitments and Contingencies -
Commitments and Contingencies - Additional Information (Detail) - USD ($) | Mar. 31, 2017 | Dec. 31, 2016 |
Loss Contingencies [Line Items] | ||
Undisbursed loan commitments | $ 48,700,000 | |
Time deposits | 311,839,000 | $ 293,078,000 |
Outstanding borrowings | 11,000,000 | 11,000,000 |
Securities pledged to municipalities for deposits in excess of FDIC limits, market value | 131,900,000 | 128,400,000 |
Securities with market value sold under agreements to repurchase from various customers | 128,900,000 | $ 125,600,000 |
Federal Home Loan Bank of Cincinnati [Member] | ||
Loss Contingencies [Line Items] | ||
Letters of credit | 45,500,000 | |
Securities pledged to municipalities for deposits in excess of FDIC limits, market value | 45,200,000 | |
Securities with market value sold under agreements to repurchase from various customers | 45,500,000 | |
Standby Letters of Credit [Member] | ||
Loss Contingencies [Line Items] | ||
Letters of credit | 287,000 | |
Home Equity Lines of Credit [Member] | ||
Loss Contingencies [Line Items] | ||
Lines of credit outstanding | 32,100,000 | |
Personal Lines of Credit [Member] | ||
Loss Contingencies [Line Items] | ||
Lines of credit outstanding | 19,400,000 | |
Loan Origination Commitments [Member] | ||
Loss Contingencies [Line Items] | ||
Outstanding commitments | 43,900,000 | |
One Year [Member] | ||
Loss Contingencies [Line Items] | ||
Time deposits | 43,100,000 | |
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 | |
One Year Or Less [Member] | ||
Loss Contingencies [Line Items] | ||
Time deposits | 47,600,000 | |
One Year Or Less [Member] | Minimum [Member] | ||
Loss Contingencies [Line Items] | ||
Certificates of deposits | $ 250,000 |
Commitments and Contingencies60
Commitments and Contingencies - Schedule of FHLB Borrowings (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2017 | Dec. 31, 2016 | |
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ||
Outstanding Balance | $ 11,000 | $ 11,000 |
Rate | 1.04% | 1.04% |
October 6, 2017 [Member] | ||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ||
Outstanding Balance | $ 5,000 | $ 5,000 |
Rate | 0.88% | 0.88% |
Maturity | Oct. 6, 2017 | Oct. 6, 2017 |
July 6, 2018 [Member] | ||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ||
Outstanding Balance | $ 6,000 | $ 6,000 |
Rate | 1.18% | 1.18% |
Maturity | Jul. 6, 2018 | Jul. 6, 2018 |
Regulatory Matters - Additional
Regulatory Matters - Additional Information (Detail) - USD ($) $ in Thousands | 1 Months Ended | 3 Months Ended | ||
Jan. 31, 2016 | Mar. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2014 | |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||||
Common equity tier one capital ratio | 5.75% | 5.125% | ||
Tier 1 risk based capital ratios | 7.25% | 6.625% | ||
Total risk based capital ratio | 9.25% | 8.625% | ||
Minimum capital conservation buffer | 0.625% | 1.25% | ||
Total assets | $ 15,000,000 | |||
Common equity tier 1 capital assets | 45,297 | $ 40,466 | ||
Maximum [Member] | ||||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||||
Common equity tier 1 capital assets | $ 250,000,000 | |||
Bank Holding Companies and Banks Subject to the rules [Member] | ||||
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% |
Regulatory Matters - The Compan
Regulatory Matters - The Company's Consolidated Capital Ratios and the Bank's Actual Capital Amounts and Ratios (Detail) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Tier 1 leverage capital to adjusted total assets, Actual Amount | $ 94,592 | $ 92,803 |
Tier 1 leverage capital to adjusted total assets, Minimum Capital Required - Basel III Phase-In Schedule, Amount | 35,876 | 34,392 |
Tier 1 leverage capital to adjusted total assets, To be Well Capitalized for Prompt Corrective Action Provision, Amount | 44,845 | 42,990 |
Total capital to risk weighted assets, Actual Amount | 100,756 | 98,915 |
Total capital to risk weighted assets, Minimum Capital Required - Basel III Phase-In Schedule, Amount | 57,792 | 52,682 |
Total capital to risk weighted assets, To be Well Capitalized for Prompt Corrective Action Provision, Amount | 62,478 | 61,080 |
Tier 1 capital to risk weighted assets, Actual Amount | 94,592 | 92,803 |
Tier 1 capital to risk weighted assets, Minimum Capital Required - Basel III Phase-In Schedule, Amount | 45,297 | 40,466 |
Tier 1 capital to risk weighted assets, To be Well Capitalized for Prompt Corrective Action Provision, Amount | 49,983 | 48,864 |
Common equity tier 1 capital to risk weighted assets, Actual Amount | 94,592 | 92,803 |
Common equity tier 1 capital to risk weighted assets, Minimum Capital Required - Basel III Phase-In Schedule, Amount | $ 35,925 | $ 31,304 |
Tier 1 leverage capital to adjusted total assets, Actual Ratio | 10.60% | 10.80% |
Tier 1 leverage capital to adjusted total assets, Minimum Capital Required - Basel III Phase-In Schedule, Ratio | 4.00% | 4.00% |
Tier 1 leverage capital to adjusted total assets, To be Well Capitalized for Prompt Corrective Action Provision, Ratio | 5.00% | 5.00% |
Total capital to risk weighted assets, Actual Ratio | 16.10% | 16.20% |
Total capital to risk weighted assets, Minimum Capital Required - Basel III Phase-In Schedule, Ratio | 9.25% | 8.625% |
Total capital to risk weighted assets, To be Well Capitalized for Prompt Corrective Action Provision, Ratio | 10.00% | 10.00% |
Tier 1 capital to risk weighted assets, Actual Ratio | 15.10% | 15.20% |
Tier 1 capital to risk weighted assets, Minimum Capital Required - Basel III Phase-In Schedule, Ratio | 7.25% | 6.625% |
Tier 1 capital to risk weighted assets, To be Well Capitalized for Prompt Corrective Action Provision, Ratio | 8.00% | 8.00% |
Common equity tier 1 capital to risk weighted assets, Actual Ratio | 15.10% | 15.20% |
Common equity tier 1 capital to risk weighted assets, Minimum Capital Required - Basel III Phase-In Schedule, Ratio | 5.75% | 5.125% |
Bank [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Tier 1 leverage capital to adjusted total assets, Actual Amount | $ 93,585 | $ 91,617 |
Tier 1 leverage capital to adjusted total assets, Minimum Capital Required - Basel III Phase-In Schedule, Amount | 35,752 | 34,315 |
Tier 1 leverage capital to adjusted total assets, To be Well Capitalized for Prompt Corrective Action Provision, Amount | 44,690 | 42,894 |
Total capital to risk weighted assets, Actual Amount | 99,749 | 97,729 |
Total capital to risk weighted assets, Minimum Capital Required - Basel III Phase-In Schedule, Amount | 57,664 | 52,561 |
Total capital to risk weighted assets, To be Well Capitalized for Prompt Corrective Action Provision, Amount | 62,339 | 60,941 |
Tier 1 capital to risk weighted assets, Actual Amount | 93,585 | 91,617 |
Tier 1 capital to risk weighted assets, Minimum Capital Required - Basel III Phase-In Schedule, Amount | 45,196 | 40,373 |
Tier 1 capital to risk weighted assets, To be Well Capitalized for Prompt Corrective Action Provision, Amount | 49,871 | 48,753 |
Common equity tier 1 capital to risk weighted assets, Actual Amount | 93,585 | 91,617 |
Common equity tier 1 capital to risk weighted assets, Minimum Capital Required - Basel III Phase-In Schedule, Amount | 35,845 | 31,232 |
Common equity tier 1 capital to risk weighted assets, To be Well Capitalized for Prompt Corrective Action Provision, Amount | $ 40,520 | $ 39,611 |
Tier 1 leverage capital to adjusted total assets, Actual Ratio | 10.50% | 10.70% |
Tier 1 leverage capital to adjusted total assets, Minimum Capital Required - Basel III Phase-In Schedule, Ratio | 4.00% | 4.00% |
Tier 1 leverage capital to adjusted total assets, To be Well Capitalized for Prompt Corrective Action Provision, Ratio | 5.00% | 5.00% |
Total capital to risk weighted assets, Actual Ratio | 16.00% | 16.00% |
Total capital to risk weighted assets, Minimum Capital Required - Basel III Phase-In Schedule, Ratio | 9.25% | 8.625% |
Total capital to risk weighted assets, To be Well Capitalized for Prompt Corrective Action Provision, Ratio | 10.00% | 10.00% |
Tier 1 capital to risk weighted assets, Actual Ratio | 15.00% | 15.00% |
Tier 1 capital to risk weighted assets, Minimum Capital Required - Basel III Phase-In Schedule, Ratio | 7.25% | 6.625% |
Tier 1 capital to risk weighted assets, To be Well Capitalized for Prompt Corrective Action Provision, Ratio | 8.00% | 8.00% |
Common equity tier 1 capital to risk weighted assets, Actual Ratio | 15.00% | 15.00% |
Common equity tier 1 capital to risk weighted assets, Minimum Capital Required - Basel III Phase-In Schedule, Ratio | 5.75% | 5.125% |
Common equity tier 1 capital to risk weighted assets, To be Well Capitalized for Prompt Corrective Action Provision, Ratio | 6.50% | 6.50% |