Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Sep. 30, 2017 | Nov. 06, 2017 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Sep. 30, 2017 | |
Document Fiscal Year Focus | 2,017 | |
Document Fiscal Period Focus | Q3 | |
Trading Symbol | HFBC | |
Entity Registrant Name | HOPFED BANCORP INC | |
Entity Central Index Key | 1,041,550 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 6,672,771 |
Interim Consolidated Condensed
Interim Consolidated Condensed Statements of Financial Condition - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Assets | ||
Cash and due from banks | $ 23,469 | $ 21,779 |
Interest-bearing deposits in banks | 9,842 | 3,970 |
Cash and cash equivalents | 33,311 | 25,749 |
Federal Home Loan Bank stock, at cost | 4,428 | 4,428 |
Securities available for sale | 192,287 | 209,480 |
Loans held for sale | 1,749 | 1,094 |
Loans receivable, net of allowance for loan losses of $4,799 at September 30, 2017 and $6,112 at December 31, 2016 | 625,403 | 604,286 |
Accrued interest receivable | 3,414 | 3,799 |
Foreclosed assets, net | 4,975 | 2,397 |
Bank owned life insurance | 10,287 | 10,662 |
Premises and equipment, net | 22,945 | 23,461 |
Deferred tax assets | 2,292 | 3,052 |
Other assets | 2,973 | 3,078 |
Total assets | 904,064 | 891,486 |
Deposits: | ||
Non-interest-bearing accounts | 128,184 | 131,145 |
Interest-bearing accounts | ||
Checking accounts | 196,315 | 209,347 |
Savings and money market accounts | 97,929 | 99,312 |
Other time deposits | 308,801 | 293,078 |
Total deposits | 731,229 | 732,882 |
Advances from Federal Home Loan Bank | 31,000 | 11,000 |
Repurchase agreements | 37,829 | 47,655 |
Subordinated debentures | 10,310 | 10,310 |
Advances from borrowers for taxes and insurance | 1,188 | 766 |
Accrued expenses and other liabilities | 3,273 | 2,445 |
Total liabilities | 814,829 | 805,058 |
Stockholders' equity | ||
Preferred stock, par value $0.01 per share; authorized - 500,000 shares; no shares issued and outstanding at September 30, 2017 and December 31, 2016 | ||
Common stock, par value $.01 per share; authorized 15,000,000 shares; 7,976,131 issued and 6,688,674 outstanding at September 30, 2017 and 7,963,378 issued and 6,717,242 outstanding at December 31, 2016 | 80 | 80 |
Additional paid-in-capital | 58,777 | 58,660 |
Retained earnings | 51,646 | 49,035 |
Treasury stock, at cost (1,287,457 shares at September 30, 2017 and 1,246,136 shares at December 31, 2016) | (15,931) | (15,347) |
Unearned Employee Stock Ownership Plan ("ESOP") shares, at cost (465,881 shares at September 30, 2017 and 498,346 shares at December 31, 2016) | (6,125) | (6,548) |
Accumulated other comprehensive income | 788 | 548 |
Total stockholders' equity | 89,235 | 86,428 |
Total liabilities and stockholders' equity | $ 904,064 | $ 891,486 |
Interim Consolidated Condensed3
Interim Consolidated Condensed Statements of Financial Condition (Parenthetical) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Statement of Financial Position [Abstract] | ||
Loans receivable, allowance for loan losses | $ 4,799 | $ 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 | 7,976,131 | 7,963,378 |
Common stock, shares outstanding | 6,688,674 | 6,717,242 |
Treasury stock, shares | 1,287,457 | 1,246,136 |
Unearned ESOP shares | 465,881 | 498,346 |
Interim Consolidated Condensed4
Interim Consolidated Condensed Statements of Income - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Interest and dividend income: | ||||
Loans | $ 7,260 | $ 6,569 | $ 20,959 | $ 19,175 |
Investment in securities, taxable | 1,124 | 1,099 | 3,397 | 3,544 |
Nontaxable securities available for sale | 233 | 326 | 796 | 1,019 |
Interest-bearing deposits | 18 | 10 | 62 | 38 |
Total interest and dividend income | 8,635 | 8,004 | 25,214 | 23,776 |
Interest expense: | ||||
Deposits | 1,206 | 1,044 | 3,570 | 3,146 |
FHLB borrowings | 89 | 33 | 151 | 134 |
Repurchase agreements | 130 | 139 | 352 | 421 |
Subordinated debentures | 112 | 99 | 324 | 287 |
Total interest expense | 1,537 | 1,315 | 4,397 | 3,988 |
Net interest income | 7,098 | 6,689 | 20,817 | 19,788 |
Provision for loan losses | 71 | 255 | 421 | 1,178 |
Net interest income after provision for loan losses | 7,027 | 6,434 | 20,396 | 18,610 |
Non-interest income: | ||||
Service charges | 819 | 719 | 2,423 | 2,094 |
Merchant card | 299 | 308 | 916 | 913 |
Mortgage origination revenue | 335 | 415 | 947 | 1,218 |
Gain on sale of securities | 162 | 79 | 178 | 422 |
Income from bank owned life insurance | 95 | 104 | 402 | 265 |
Income from financial services | 134 | 131 | 419 | 455 |
Other operating income | 186 | 189 | 877 | 568 |
Total non-interest income | 2,030 | 1,945 | 6,162 | 5,935 |
Non-interest expenses: | ||||
Salaries and benefits | 3,919 | 3,757 | 12,132 | 11,646 |
Occupancy | 716 | 810 | 2,220 | 2,398 |
Data processing | 795 | 744 | 2,105 | 2,175 |
State deposit tax | 169 | 248 | 600 | 743 |
Professional services | 409 | 368 | 1,221 | 1,008 |
Advertising | 240 | 376 | 989 | 1,067 |
Foreclosure, net | (25) | 204 | 89 | 473 |
(Gain) Loss on sale of asset | (72) | 3 | (72) | |
Other | 945 | 918 | 2,731 | 3,207 |
Total non-interest expense | 7,168 | 7,353 | 22,090 | 22,645 |
Income before income tax expense | 1,889 | 1,026 | 4,468 | 1,900 |
Income tax expense | 486 | 41 | 989 | 102 |
Net income | $ 1,403 | $ 985 | $ 3,479 | $ 1,798 |
Earnings per share: | ||||
Basic | $ 0.22 | $ 0.16 | $ 0.56 | $ 0.29 |
Diluted | 0.22 | 0.16 | 0.56 | 0.29 |
Dividend per share | $ 0.05 | $ 0.04 | $ 0.14 | $ 0.12 |
Weighted average shares outstanding - basic | 6,236,075 | 6,212,231 | 6,227,955 | 6,247,536 |
Weighted average shares outstanding - diluted | 6,236,075 | 6,212,231 | 6,227,955 | 6,247,536 |
Interim Consolidated Condensed5
Interim Consolidated Condensed Statements of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Statement of Comprehensive Income [Abstract] | ||||
Net income | $ 1,403 | $ 985 | $ 3,479 | $ 1,798 |
Other comprehensive income, net of tax: | ||||
Unrealized gain on non-other than temporary impaired investment securities available for sale, net of taxes of of $24 and $384 for the three month periods ended September 30, 2017 and September 30, 2016, respectively; and ($223) and ($883) for the nine month periods ended September 30, 2017 and September 30, 2016, respectively. | (44) | (744) | 431 | 1,715 |
Unrealized gain on OTTI securities, net of taxes of $52 and none for the three month periods ended September 30, 2017 and September 30, 2016, respectively; and $38 and ($37) for the nine month periods ended September 30, 2017 and September 30, 2016, respectively. | (100) | (74) | 72 | |
Reclassification adjustment for gains included in net income, September 30, 2017 and September 30, 2016, respectively; and $61 and $144 for the nine month periods ended September 30, 2017 and September 30, 2016, respectively. | (107) | (52) | (117) | (278) |
Total other comprehensive income | (251) | (796) | 240 | 1,509 |
Comprehensive income | $ 1,152 | $ 189 | $ 3,719 | $ 3,307 |
Interim Consolidated Condensed6
Interim Consolidated Condensed Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Statement of Comprehensive Income [Abstract] | ||||
Unrealized gain on investment securities available for sale, tax effect | $ 24 | $ 384 | $ (223) | $ (883) |
Unrealized gain on OTTI securities, tax effect | $ 52 | $ 0 | 38 | (37) |
Reclassification adjustment for other than temporary impairment included in net income, tax effect | $ 61 | $ 144 |
Interim Consolidated Condensed7
Interim Consolidated Condensed Statement of Stockholders' Equity - 9 months ended Sep. 30, 2017 - USD ($) $ in Thousands | Total | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Treasury Stock, Common [Member] | Unearned ESOP Shares [Member] | Accumulated Other Comprehensive Income [Member] |
Beginning balance at Dec. 31, 2016 | $ 86,428 | $ 80 | $ 58,660 | $ 49,035 | $ (15,347) | $ (6,548) | $ 548 |
Beginning balance, Shares at Dec. 31, 2016 | 6,717,242 | ||||||
Issuance of restricted stock | 0 | $ 0 | 0 | 0 | 0 | 0 | 0 |
Issuance of restricted stock, shares | 12,753 | ||||||
Net income | 3,479 | 3,479 | |||||
Repurchase of treasury stock | (584) | (584) | |||||
Repurchase of treasury stock, shares | (41,321) | ||||||
ESOP shares committed to be released | 423 | 423 | |||||
Change in price of ESOP shares | 40 | 40 | |||||
Compensation expense, restricted stock awards | 77 | 77 | |||||
Net change in unrealized gain on securities available for sale, net of income taxes of ($124) | 240 | 240 | |||||
Cash dividend declared to common shareholders | (868) | (868) | |||||
Ending balance at Sep. 30, 2017 | $ 89,235 | $ 80 | $ 58,777 | $ 51,646 | $ (15,931) | $ (6,125) | $ 788 |
Ending balance, Shares at Sep. 30, 2017 | 6,688,674 |
Interim Consolidated Condensed8
Interim Consolidated Condensed Statement of Stockholders' Equity (Parenthetical) $ in Thousands | 9 Months Ended |
Sep. 30, 2017USD ($) | |
Net change in unrealized gain (losses) on securities available for sale, taxes | $ 124 |
Accumulated Other Comprehensive Income [Member] | |
Net change in unrealized gain (losses) on securities available for sale, taxes | $ 124 |
Interim Consolidated Condensed9
Interim Consolidated Condensed Statements of Cash Flows - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2017 | Sep. 30, 2016 | |
Cash flows from operating activities: | ||
Net cash provided by operating activities | $ 7,702 | $ 7,098 |
Cash flows from investing activities: | ||
Proceeds from sales, calls and maturities of securities available for sale | 40,480 | 54,274 |
Purchase of securities available for sale | (23,572) | (28,805) |
Net increase in loans | (25,806) | (24,246) |
Proceeds from sale of foreclosed assets | 1,666 | 1,319 |
Proceeds from sale of premises and equipment | 100 | |
Purchase of premises and equipment | (399) | (551) |
Net cash provided by (used in) investing activities | (7,631) | 2,091 |
Cash flows from financing activities: | ||
Net decrease in demand deposits | (17,376) | (13,126) |
Net increase (decrease) in time and other deposits | 15,723 | (13,963) |
Increase in advances from borrowers for taxes and insurance | 422 | 497 |
Advances from Federal Home Loan Bank | 58,000 | 23,000 |
Repayment of advances from Federal Home Loan Bank | (38,000) | (27,000) |
Net decrease in repurchase agreements | (9,826) | (1,305) |
Cash used to repurchase treasury stock | (584) | (1,808) |
Dividends paid on common stock | (868) | (746) |
Net cash provided by (used in) financing activities | 7,491 | (34,451) |
Increase (decrease) in cash and cash equivalents | 7,562 | (25,262) |
Cash and cash equivalents, beginning of period | 25,749 | 54,698 |
Cash and cash equivalents, end of period | 33,311 | 29,436 |
Supplemental disclosures of cash flow information: | ||
Interest paid | 4,374 | 4,060 |
Income taxes paid | 421 | (700) |
Supplemental disclosures of non-cash investing and financing activities: | ||
Loans charged off | 3,081 | 674 |
Foreclosures of loans during period | 4,268 | 354 |
Net unrealized gains on investment securities classified as available for sale | 364 | 2,286 |
Decrease in deferred tax asset related to unrealized gains on investments | (124) | (777) |
Dividends declared and payable | 355 | 289 |
Issuance of restricted common stock | $ 176 | $ 145 |
Basis of Presentation
Basis of Presentation | 9 Months Ended |
Sep. 30, 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. (“HopFed” or 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 LLLP, a low income senior citizen housing facility in Bowling Green, Kentucky. 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 |
Earnings Per Share
Earnings Per Share | 9 Months Ended |
Sep. 30, 2017 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | (2) EARNINGS PER SHARE Basic earnings per share (EPS) is computed by dividing net income by the weighted average number of common stock shares outstanding. Diluted EPS is computed by dividing net income by the weighted average number of common stock shares outstanding, adjusted for the effect of potentially dilutive stock awards outstanding during the period. For the three and nine month periods ended September 30, 2017 and September 30, 2016, the Company has excluded all unearned shares held by the ESOP. For the Three Month Periods 2017 2016 Basic EPS: Net income $ 1,403,000 $ 985,000 Average common shares outstanding 6,236,075 6,212,231 Earnings per share $ 0.22 $ 0.16 Diluted EPS Net income $ 1,403,000 $ 985,000 Average common shares outstanding 6,236,075 6,212,231 Dilutive effect of stock options — — Average diluted shares outstanding 6,236,075 6,212,231 Earnings per share, diluted $ 0.22 $ 0.16 For the nine month Periods Ended September 30, 2017 2016 Basic EPS: Net income $ 3,479,000 $ 1,798,000 Average common shares outstanding 6,227,955 6,247,536 Earnings per share $ 0.56 $ 0.29 Diluted EPS Net income $ 3,479,000 $ 1,798,000 Average common shares outstanding 6,227,955 6,247,536 Dilutive effect of stock options — — Average diluted shares outstanding 6,227,955 6,247,536 Earnings per share, diluted $ 0.56 $ 0.29 |
Securities
Securities | 9 Months Ended |
Sep. 30, 2017 | |
Cash and Cash Equivalents [Abstract] | |
Securities | (3) SECURITIES The carrying amount of securities and their estimated fair values at September 30, 2017 were as follows: September 30, 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. Agency securities $ 89,419 766 (356 ) 89,829 Taxable municipal bonds 1,281 10 (6 ) 1,285 Tax free municipal bonds 27,349 903 (21 ) 28,231 Trust preferred securities 1,646 71 — 1,717 Mortgage backed securities 71,399 378 (552 ) 71,225 $ 191,094 2,128 (935 ) 192,287 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 September 30, 2017 were as follows: Estimated Amortized Fair Cost Value (Dollars in Thousands) Due within one year $ 3,830 $ 3,850 Due in one to five years 23,534 23,745 Due in five to ten years 25,505 25,847 Due after ten years 7,230 7,558 60,099 61,000 Amortizing agency bonds 59,596 60,062 Mortgage-backed securities 71,399 71,225 Total securities available for sale $ 191,094 $ 192,287 The estimated fair value and unrealized loss amounts of temporarily impaired investments as of September 30, 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 $ 31,029 (212 ) 8,217 (144 ) 39,246 (356 ) Taxable municipal bonds 519 (6 ) — — 519 (6 ) Tax free municipal bonds 1,666 (4 ) 928 (17 ) 2,594 (21 ) Mortgage-backed securities 25,788 (171 ) 17,353 (381 ) 43,141 (552 ) Total available for sale $ 59,002 (393 ) 26,498 (542 ) 85,500 (935 ) 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 municipal bonds 1,347 (10 ) — — 1,347 (10 ) Tax free municipal bonds 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 September 30, 2017, the Company has 60 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 September 30, 2017. At September 30, 2017 and December 31, 2016, securities with a book value of approximately $117.4 million and $125.6 million and a market value of approximately $120.1 million and $128.4 million, respectively, were pledged to various municipalities for deposits in excess of FDIC limits as required by law. |
Loans
Loans | 9 Months Ended |
Sep. 30, 2017 | |
Receivables [Abstract] | |
Loans | (4) LOANS The Company uses the following loan segments as described below: • One-to-four closed-end non-owner • Home equity lines of credit may be first or second mortgages secured by one-to-four • Junior liens are closed-end one-to-four • Multi-family loans are closed-end • 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. All construction loans are under written under the Company’s commercial loan underwriting guidelines for the type of property being constructed. • 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 September 30, 2017 and December 31, 2016. September 30, 2017 December 31, 2016 (Dollars in Thousands) Real estate loans: One-to-four $ 165,926 $ 147,962 Home equity lines of credit 34,995 35,684 Junior liens 1,402 1,452 Multi-family 37,321 34,284 Construction 25,594 39,255 Land 14,289 23,840 Farmland 37,262 47,796 Non-residential 216,056 182,940 Total mortgage loans 532,845 513,213 Consumer loans 9,222 8,717 Commercial loans 88,515 88,907 Total other loans 97,737 97,624 Total loans 630,582 610,837 Deferred loan fees, net of cost (380 ) (439 ) Less allowance for loan losses (4,799 ) (6,112 ) Total loans, net $ 625,403 $ 604,286 Although the Company has a diversified loan portfolio, 84.5% and 84.0% of the portfolio was concentrated in loans secured by real estate at September 30, 2017 and December 31, 2016, respectively. At September 30, 2017 and December 31, 2016, the majority of these loans are located within the Company’s general operating area of the United States. The following table provides a detail of the Company’s activity in the allowance for loan loss account by loan type for the nine month period ended September 30, 2017: Ending Balance Charge offs Recoveries Provision Balance 12/31/2016 2017 2017 2017 9/30/2017 (Dollars in Thousands) One-to-four $ 852 (49 ) 9 (79 ) 733 Home equity line of credit 260 — 10 (86 ) 184 Junior liens 8 — 2 (4 ) 6 Multi-family 412 — 417 (506 ) 323 Construction 277 — — (146 ) 131 Land 1,760 (2,608 ) 559 1,535 1,246 Farmland 778 — — (409 ) 369 Non-residential 964 — 13 (215 ) 762 Consumer loans 208 (200 ) 70 68 146 Commercial loans 593 (224 ) 267 263 899 Total $ 6,112 (3,081 ) 1,347 421 4,799 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: Ending Balance Charge offs Recoveries Provision Balance 12/31/2015 2016 2016 2016 12/31/2016 (Dollars in Thousands) One-to-four $ 1,030 — 167 (345 ) 852 Home equity line of credit 201 (30 ) 14 75 260 Junior liens 8 — 14 (14 ) 8 Multi-family 227 (421 ) — 606 412 Construction 377 — — (100 ) 277 Land 1,379 — — 381 1,760 Farmland 358 — — 420 778 Non-residential 1,139 — 10 (185 ) 964 Consumer loans 358 (422 ) 293 (21 ) 208 Commercial loans 623 (595 ) 141 424 593 Total $ 5,700 (1,468 ) 639 1,241 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 $ 164,817 582 333 51 143 — $ 165,926 Home equity line of credit 34,433 — 401 — 161 — 34,995 Junior liens 1,398 4 — — — — 1,402 Multi-family 37,321 — — — — — 37,321 Construction 25,594 — — — — — 25,594 Land 13,724 — 40 — 525 — 14,289 Farmland 35,626 — 455 1,147 34 — 37,262 Non-residential 207,765 165 — 778 7,348 — 216,056 Consumer loans 9,066 3 5 — 148 — 9,222 Commercial loans 83,246 — 505 3,645 1,119 — 88,515 Total $ 612,990 754 1,739 5,621 9,478 — $ 630,582 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 September 30, 2017 and December 31, 2016, there were no loans more than 90 days past due accruing interest. The following table presents the balance in the allowance for loan losses and the recorded investment in loans as of September 30, 2017 and December 31, 2016, by portfolio segment and based on the impairment method. Land Development / Commercial Residential Commercial Construction Real Estate Real Estate Consumer Total (Dollars in Thousands) September 30, 2017: Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ 267 — 19 — 36 322 Collectively evaluated for impairment 632 1,377 1,435 923 110 4,477 Total ending allowance balance $ 899 1,377 1,454 923 146 4,799 Loans: Loans individually evaluated for impairment $ 1,624 565 7,837 1,038 153 11,217 Loans collectively evaluated for impairment 86,891 39,318 282,802 201,285 9,069 619,365 Total ending loans balance $ 88,515 39,883 290,639 202,323 9,222 630,582 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 and 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 probable that the Company will be unable to collect all principal and interest payments due in accordance with the contractual terms of the loan agreement. The value of individually impaired loans is measured based on the present value of expected payments 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 loans by credit risk indicator and the related allowance at September 30, 2017 and December 31, 2016 were as follows: Impaired Loans September 30, 2017 Pass Special Substandard Doubtful Total Specific Allowance for (Dollars in Thousands) One-to-four $ 165,399 51 476 — 165,926 — 733 Home equity line of credit 34,433 — 562 — 34,995 — 184 Junior liens 1,402 — — — 1,402 — 6 Multi-family 37,321 — — — 37,321 — 323 Construction 25,594 — — — 25,594 — 131 Land 13,724 — 565 — 14,289 — 1,246 Farmland 35,626 1,147 489 — 37,262 17 352 Non-residential 207,930 778 7,348 — 216,056 2 760 Consumer loans 9,069 — 153 — 9,222 36 110 Commercial loans 83,246 3,645 1,624 — 88,515 267 632 Total $ 613,744 5,621 11,217 — 630,582 322 4,477 Impaired Loans December 31, 2016 Pass Special Substandard Doubtful Total Specific Allowance for (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 September 30, 2017 were as follows: At September 30, 2017 For the nine month period Recorded Unpaid Related Average Interest (Dollars in Thousands) Impaired loans with no specific allowance One-to-four $ 476 476 — 1,480 26 Home equity line of credit 562 562 — 559 25 Junior liens — — — 8 — Multi-family — — — 1,419 — Construction — — — — — Land 565 565 — 918 35 Farmland 164 164 — 1,257 2 Non-residential 7,328 7,328 — 9,452 312 Consumer loans 9 9 — 10 — Commercial loans 1,125 1,125 — 1,745 35 Total 10,229 10,229 — 16,848 435 Impaired loans with a specific allowance One-to-four — — — — — Home equity line of credit — — — — — Junior liens — — — — — Multi-family — — — — — Construction — — — — — Land — — — 5,008 — Farmland 325 325 17 244 — Non-residential 20 20 2 110 2 Consumer loans 144 144 36 255 — Commercial loans 499 499 267 464 16 Total 988 988 322 6,081 18 Total $ 11,217 11,217 322 22,929 453 Impaired loans by classification type and the related valuation allowance amounts at December 31, 2016 were as follows: At December 31, 2016 For the year ended Recorded Unpaid Related Average Interest (Dollars in Thousands) Impaired loans with no specific allowance 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 $ 29,339 30,299 1,148 31,594 1,529 On a periodic basis, the Bank may modify the terms of certain loans. At December 31, 2016, the Company had eight loans, representing three lending relationships, classified as performing TDR. During the nine month period ended September 30, 2017, the Company removed one lending relationship from TDR status and one lending relationship had three loans to pay off. One non-residential The following table provides the number of loans remaining in each category as of September 30, 2017 and December 31, 2016 that the Company had previously modified in a TDR: Number of Pre-Modification Post Modification September 30, 2017 Non-residential 3 $ 3,371,435 3,371,435 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 September 30, 2017 that have been modified as TDRs and that subsequently defaulted within twelve months on their modified terms. At September 30, 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 | 9 Months Ended |
Sep. 30, 2017 | |
Banking and Thrift [Abstract] | |
Foreclosed Assets | (5) 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 September 30, 2017 and December 31, 2016, the Company had balances in foreclosed assets consisting of the following: September 30, 2017 December 31, 2016 (Dollars in Thousands) One-to-four $ 1,025 135 Home equity line of credit — 28 Multi-family real estate 750 1,775 Land 3,200 — Non-residential — 459 Total other assets owned $ 4,975 2,397 For the nine month period ended September 30, 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 9/30/2017 (Dollars in Thousands) One-to-four $ 135 1,025 (147 ) — 12 $ 1,025 HELOC 28 — (18 ) (10 ) — — Multi-family 1,775 — (1,001 ) — (24 ) 750 Land — 3,200 — — — 3,200 Non-residential 459 43 (500 ) — (2 ) — Total $ 2,397 4,268 (1,666 ) (10 ) (14 ) $ 4,975 The Company’s activity in foreclosed assets for the nine month period ended September 30, 2016 is as follows: Activity During 2016 Balance Reduction Gain (Loss) Balance 12/31/2015 Foreclosure Sales in Values on Sale 9/30/2016 (Dollars in Thousands) One-to-four $ 55 — (43 ) — (12 ) — Home equity line of credit — 68 — — — 68 Multi-family — 141 — — — 141 Land 943 130 (987 ) — (13 ) 73 Non-residential 738 — (270 ) — (9 ) 459 Consumer — 15 (19 ) — 4 — Total $ 1,736 354 (1,319 ) — (30 ) $ 741 |
Fair Value of Assets and Liabil
Fair Value of Assets and Liabilities | 9 Months Ended |
Sep. 30, 2017 | |
Fair Value Disclosures [Abstract] | |
Fair Value of Assets and Liabilities | (6) 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 in banks 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 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 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. Assets and Liabilities Measured on a Recurring Basis The assets and liabilities measured at fair value on a recurring basis at September 30, 2017 are summarized below: Description Total carrying Quoted Prices Significant Significant (Dollars in Thousands) Assets Securities available for sale U.S. Agency securities $ 89,829 — 89,829 — Taxable municipals 1,285 — 1,285 — Tax-free 28,231 — 28,231 — Trust preferred securities 1,717 — — 1,717 Mortgage backed securities 71,225 — 71,225 — Total $ 192,287 — 190,570 1,717 The assets and liabilities measured at fair value on a recurring basis at December 31, 2016 are summarized below: Total carrying Quoted Prices Significant Significant Description 12/31/2016 (Level 1) (Level 2) (Level 3) (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 In Active Significant Significant Description September 30, 2017 (Level 1) (Level 2) (Level 3) (Dollars in Thousands) Assets Foreclosed assets $ 4,975 — — $ 4,975 Impaired loans, net of allowance $ 666 — — $ 666 The assets and liabilities measured at fair value on a non-recurring Total carrying Quoted Prices Significant Significant 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 Fair Valuation Unobservable Quantitative Range (Dollars in Thousand) September 30, 2017 Assets measured on a non-recurring Foreclosed assets $ 4,975 Discount to appraised value Appraisal comparability 5% to 10% Impaired loans 666 Discount to appraised value of collateral Appraisal comparability 10% to 25% Asset measured on a recurring basis Trust preferred securities 1,717 Discounted cash flow Compare to quotes for One month December 31, 2016 Assets measured on a non-recurring Foreclosed assets $ 2,397 Discount to appraised value of collateral Appraisal comparability 30% to 55% Impaired loans 6,123 Discount to appraised value of collateral 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 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 compared to our investment. The table below includes a roll-forward of the consolidated condensed statement of financial condition items for the nine month periods ended September 30, 2017 and September 30, 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 Nine month period ended September 30, Other Assets Other Assets (Dollars in Thousands) Fair value, January 1 $ 1,817 1,865 Change in unrealized gain included in other comprehensive income for assets and liabilities still held at September 30, (113 ) 105 Accretion of previously discounted amounts 13 13 Fair value, September 30 $ 1,717 1,983 The estimated fair values of financial instruments were as follows at September 30, 2017: Carrying Estimated Quoted Prices Using Significant (Dollars in Thousands) Financial Assets: Cash and due from banks $ 23,469 23,469 23,469 — — Interest-bearing deposits 9,842 9,842 9,842 — — Securities available for sale 192,287 192,287 — 190,570 1,717 Federal Home Loan Bank stock 4,428 4,428 — — 4,428 Loans held for sale 1,749 1,749 — 1,749 — Loans receivable 625,403 608,134 — — 608,134 Accrued interest receivable 3,414 3,414 — — 3,414 Financial liabilities: Deposits 731,229 731,960 — 731,960 — Advances from borrowers for taxes and insurance 1,188 1,188 — 1,188 — Advances from Federal Home Loan Bank 31,000 31,069 — 31,069 — Repurchase agreements 37,829 37,829 — 37,829 — 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 | 9 Months Ended |
Sep. 30, 2017 | |
Accounting Changes and Error Corrections [Abstract] | |
Effect of New Accounting Pronouncements | (7) 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 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 Other accounting standards that have been issued or proposed by the FASB or other standards-setting bodies are not expected to have a material impact on the Company’s financial position, results of operations or cash flows. |
Income Taxes
Income Taxes | 9 Months Ended |
Sep. 30, 2017 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | (8) 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 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 September 30, 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 September 30, 2017, the Company has $10.3 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 nine month period ended September 30, 2017, the Company received additional income of approximately $160,000 from the net proceeds of a life insurance policy. At September 30, 2017, the Company’s investment portfolio includes $28.2 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 | 9 Months Ended |
Sep. 30, 2017 | |
Text Block [Abstract] | |
Esop | (9) 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 September 30, 2017 and December 31, 2016, shares held by the ESOP were as follows: September 30, 2017 December 31, 2016 Accrued for allocation to participants 32,465 — Earned ESOP shares 101,654 101,654 Unearned ESOP shares 465,881 498,346 Total ESOP shares 600,000 600,000 Fair value of unearned shares $ 6,731,980 $ 6,707,737 |
Commitments and Contingencies
Commitments and Contingencies | 9 Months Ended |
Sep. 30, 2017 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | (10) COMMITMENTS AND CONTINGENCIES At September 30, 2017, the Bank had $33.3 million in outstanding commitments on revolving home equity lines of credit, $16.0 million in outstanding commitments on revolving personal lines of credit and $50.9 million in commitments to originate loans and undisbursed commitments on commercial lines of credit of $62.9 million. At September 30, 2017, the Company had $140,000 in standby letters of credit outstanding. At September 30, 2017, the Company has $38.3 million in time deposits greater than $100,000 but less than $250,000 that are schedule to mature in one year and $73.0 million in time deposits with balances greater than $250,000 that are scheduled to mature in one year or less. Management believes that a significant percentage of such deposits will remain with the Bank. The Bank’s FHLB borrowings are secured by a blanket security agreement pledging the Bank’s 1-4 non-residential 1-4 Outstanding Balance Rate Maturity (Dollars in Thousands,Except Percentages) $ 8,000 1.27% Overnight 5,000 0.88% 10/06/2017 6,000 1.18% 07/06/2018 7,000 1.55% 01/10/2019 5,000 1.73% 01/10/2020 $ 31,000 1.33% A schedule of FHLB borrowings at December 31, 2016 is provided below: Outstanding Balance Rate Maturity (Dollars in Thousands, Except Percentages) $ 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 $47.6 million secured by the Bank’s loan portfolio to secure additional municipal deposits. At September 30, 2017, securities with a book value of $39.3 million and a fair market value of $38.1 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 | 9 Months Ended |
Sep. 30, 2017 | |
Banking and Thrift [Abstract] | |
Regulatory Matters | (11) 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 consists 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 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 September 30, 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 September 30, 2017 and December 31, 2016 are presented below: Actual Minimum Capital Phase-In To be Well Amount Ratio Amount Ratio Amount Ratio (Dollars in Thousands, Except Percentages) As of September 30, 2017 Tier 1 leverage capital to adjusted total assets Company $ 96,428 10.9 % $ 36,273 4.0 % $ 45,341 5.0 % Bank $ 94,196 10.6 % $ 35,461 4.0 % $ 44,326 5.0 % Total capital to risk weighted assets Company $ 101,228 16.3 % $ 57,354 9.25 % $ 62,005 10.0 % Bank $ 98,995 16.0 % $ 57,225 9.25 % $ 61,865 10.0 % Tier 1 capital to risk weighted assets Company $ 96,428 15.6 % $ 44,953 7.25 % $ 49,604 8.0 % Bank $ 94,196 15.2 % $ 44,852 7.25 % $ 49,492 8.0 % Common equity tier 1 capital to risk weighted assets Company $ 96,428 15.6 % $ 35,653 5.75 % n/a n/a Bank $ 94,196 15.2 % $ 35,573 5.75 % $ 40,213 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 % |
Subsequent Event
Subsequent Event | 9 Months Ended |
Sep. 30, 2017 | |
Subsequent Events [Abstract] | |
Subsequent Event | (12) Subsequent Event On May 4, 2017, the Company, its directors, and a former director, were named as defendants in a lawsuit filed in the Court of Chancery in the State of Delaware by Company stockholders, Stilwell Associates, L.P., Stilwell Activist Fund, L.P. and Stilwell Activist Investments, L.P. (collectively, the “Plaintiffs”), concerning the adoption of Article III, Section 13 of the Company’s Amended and Restated Bylaws. The Bylaw concerns qualifications for individuals to serve on the Company’s Board of Directors. The Plaintiffs sought a declaration that the Bylaw was invalid or, in the alternative, a declaration that the Bylaw may not be applied to disqualify an otherwise qualified nominee or Plaintiffs on the basis of said nominee being part of a group acting in concert with one of the Plaintiffs. The Plaintiffs also sought an injunction enjoining the application of the Bylaw to disqualify an otherwise qualified nominee of Plaintiffs on the basis of said nominee being part of a group acting in concert with one of the Plaintiffs and an order declaring that all but one of the Defendants breached their fiduciary duties in adopting the Bylaw. The Plaintiffs did not seek damages. See Part II, Item 1 of the Company’s Quarterly Report on Form 10-Q filed on August 9, 2017, which is incorporated herein by reference. On October 3, 2017, upon the recommendation of the Nominating and Corporate Governance Committee, the Board of Directors adopted amendments to Article III, Section 13 of the Bylaws. See the Company’s Current Report on Form 8-K filed on October 4, 2017, which is incorporated herein by reference. On October 25, 2017, the Court of Chancery granted the parties’ stipulation regarding dismissal of the lawsuit and dismissed the lawsuit without prejudice, subject to possible consideration of a Fee and Expense Application by the Plaintiffs. On October 26, 2017, the Company disclosed the dismissal in a press release and filing of an SEC Form 8-K. |
Fair Value of Assets and Liab22
Fair Value of Assets and Liabilities (Policies) | 9 Months Ended |
Sep. 30, 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 in banks 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 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 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 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 |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Earnings Per Share [Abstract] | |
Reconciliation of Basic and Diluted Income (Loss) Per Share | For the Three Month Periods 2017 2016 Basic EPS: Net income $ 1,403,000 $ 985,000 Average common shares outstanding 6,236,075 6,212,231 Earnings per share $ 0.22 $ 0.16 Diluted EPS Net income $ 1,403,000 $ 985,000 Average common shares outstanding 6,236,075 6,212,231 Dilutive effect of stock options — — Average diluted shares outstanding 6,236,075 6,212,231 Earnings per share, diluted $ 0.22 $ 0.16 For the nine month Periods Ended September 30, 2017 2016 Basic EPS: Net income $ 3,479,000 $ 1,798,000 Average common shares outstanding 6,227,955 6,247,536 Earnings per share $ 0.56 $ 0.29 Diluted EPS Net income $ 3,479,000 $ 1,798,000 Average common shares outstanding 6,227,955 6,247,536 Dilutive effect of stock options — — Average diluted shares outstanding 6,227,955 6,247,536 Earnings per share, diluted $ 0.56 $ 0.29 |
Securities (Tables)
Securities (Tables) | 9 Months Ended |
Sep. 30, 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 September 30, 2017 were as follows: September 30, 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. Agency securities $ 89,419 766 (356 ) 89,829 Taxable municipal bonds 1,281 10 (6 ) 1,285 Tax free municipal bonds 27,349 903 (21 ) 28,231 Trust preferred securities 1,646 71 — 1,717 Mortgage backed securities 71,399 378 (552 ) 71,225 $ 191,094 2,128 (935 ) 192,287 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 September 30, 2017 were as follows: Estimated Amortized Fair Cost Value (Dollars in Thousands) Due within one year $ 3,830 $ 3,850 Due in one to five years 23,534 23,745 Due in five to ten years 25,505 25,847 Due after ten years 7,230 7,558 60,099 61,000 Amortizing agency bonds 59,596 60,062 Mortgage-backed securities 71,399 71,225 Total securities available for sale $ 191,094 $ 192,287 |
Estimated Fair Value and Unrealized Loss Amounts of Impaired Investments | The estimated fair value and unrealized loss amounts of temporarily impaired investments as of September 30, 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 $ 31,029 (212 ) 8,217 (144 ) 39,246 (356 ) Taxable municipal bonds 519 (6 ) — — 519 (6 ) Tax free municipal bonds 1,666 (4 ) 928 (17 ) 2,594 (21 ) Mortgage-backed securities 25,788 (171 ) 17,353 (381 ) 43,141 (552 ) Total available for sale $ 59,002 (393 ) 26,498 (542 ) 85,500 (935 ) 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 municipal bonds 1,347 (10 ) — — 1,347 (10 ) Tax free municipal bonds 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) | 9 Months Ended |
Sep. 30, 2017 | |
Receivables [Abstract] | |
Composition of Loan Portfolio By Type of Loan | Set forth below is selected data relating to the composition of the loan portfolio by type of loan at September 30, 2017 and December 31, 2016. September 30, 2017 December 31, 2016 (Dollars in Thousands) Real estate loans: One-to-four $ 165,926 $ 147,962 Home equity lines of credit 34,995 35,684 Junior liens 1,402 1,452 Multi-family 37,321 34,284 Construction 25,594 39,255 Land 14,289 23,840 Farmland 37,262 47,796 Non-residential 216,056 182,940 Total mortgage loans 532,845 513,213 Consumer loans 9,222 8,717 Commercial loans 88,515 88,907 Total other loans 97,737 97,624 Total loans 630,582 610,837 Deferred loan fees, net of cost (380 ) (439 ) Less allowance for loan losses (4,799 ) (6,112 ) Total loans, net $ 625,403 $ 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 nine month period ended September 30, 2017: Ending Balance Charge offs Recoveries Provision Balance 12/31/2016 2017 2017 2017 9/30/2017 (Dollars in Thousands) One-to-four $ 852 (49 ) 9 (79 ) 733 Home equity line of credit 260 — 10 (86 ) 184 Junior liens 8 — 2 (4 ) 6 Multi-family 412 — 417 (506 ) 323 Construction 277 — — (146 ) 131 Land 1,760 (2,608 ) 559 1,535 1,246 Farmland 778 — — (409 ) 369 Non-residential 964 — 13 (215 ) 762 Consumer loans 208 (200 ) 70 68 146 Commercial loans 593 (224 ) 267 263 899 Total $ 6,112 (3,081 ) 1,347 421 4,799 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: Ending Balance Charge offs Recoveries Provision Balance 12/31/2015 2016 2016 2016 12/31/2016 (Dollars in Thousands) One-to-four $ 1,030 — 167 (345 ) 852 Home equity line of credit 201 (30 ) 14 75 260 Junior liens 8 — 14 (14 ) 8 Multi-family 227 (421 ) — 606 412 Construction 377 — — (100 ) 277 Land 1,379 — — 381 1,760 Farmland 358 — — 420 778 Non-residential 1,139 — 10 (185 ) 964 Consumer loans 358 (422 ) 293 (21 ) 208 Commercial loans 623 (595 ) 141 424 593 Total $ 5,700 (1,468 ) 639 1,241 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 $ 164,817 582 333 51 143 — $ 165,926 Home equity line of credit 34,433 — 401 — 161 — 34,995 Junior liens 1,398 4 — — — — 1,402 Multi-family 37,321 — — — — — 37,321 Construction 25,594 — — — — — 25,594 Land 13,724 — 40 — 525 — 14,289 Farmland 35,626 — 455 1,147 34 — 37,262 Non-residential 207,765 165 — 778 7,348 — 216,056 Consumer loans 9,066 3 5 — 148 — 9,222 Commercial loans 83,246 — 505 3,645 1,119 — 88,515 Total $ 612,990 754 1,739 5,621 9,478 — $ 630,582 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 September 30, 2017 and December 31, 2016, by portfolio segment and based on the impairment method. Land Development / Commercial Residential Commercial Construction Real Estate Real Estate Consumer Total (Dollars in Thousands) September 30, 2017: Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ 267 — 19 — 36 322 Collectively evaluated for impairment 632 1,377 1,435 923 110 4,477 Total ending allowance balance $ 899 1,377 1,454 923 146 4,799 Loans: Loans individually evaluated for impairment $ 1,624 565 7,837 1,038 153 11,217 Loans collectively evaluated for impairment 86,891 39,318 282,802 201,285 9,069 619,365 Total ending loans balance $ 88,515 39,883 290,639 202,323 9,222 630,582 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 Loans by Credit Risk Indicator and Related Allowance | A summary of the Company’s loans by credit risk indicator and the related allowance at September 30, 2017 and December 31, 2016 were as follows: Impaired Loans September 30, 2017 Pass Special Substandard Doubtful Total Specific Allowance for (Dollars in Thousands) One-to-four $ 165,399 51 476 — 165,926 — 733 Home equity line of credit 34,433 — 562 — 34,995 — 184 Junior liens 1,402 — — — 1,402 — 6 Multi-family 37,321 — — — 37,321 — 323 Construction 25,594 — — — 25,594 — 131 Land 13,724 — 565 — 14,289 — 1,246 Farmland 35,626 1,147 489 — 37,262 17 352 Non-residential 207,930 778 7,348 — 216,056 2 760 Consumer loans 9,069 — 153 — 9,222 36 110 Commercial loans 83,246 3,645 1,624 — 88,515 267 632 Total $ 613,744 5,621 11,217 — 630,582 322 4,477 Impaired Loans December 31, 2016 Pass Special Substandard Doubtful Total Specific Allowance for (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 September 30, 2017 were as follows: At September 30, 2017 For the nine month period Recorded Unpaid Related Average Interest (Dollars in Thousands) Impaired loans with no specific allowance One-to-four $ 476 476 — 1,480 26 Home equity line of credit 562 562 — 559 25 Junior liens — — — 8 — Multi-family — — — 1,419 — Construction — — — — — Land 565 565 — 918 35 Farmland 164 164 — 1,257 2 Non-residential 7,328 7,328 — 9,452 312 Consumer loans 9 9 — 10 — Commercial loans 1,125 1,125 — 1,745 35 Total 10,229 10,229 — 16,848 435 Impaired loans with a specific allowance One-to-four — — — — — Home equity line of credit — — — — — Junior liens — — — — — Multi-family — — — — — Construction — — — — — Land — — — 5,008 — Farmland 325 325 17 244 — Non-residential 20 20 2 110 2 Consumer loans 144 144 36 255 — Commercial loans 499 499 267 464 16 Total 988 988 322 6,081 18 Total $ 11,217 11,217 322 22,929 453 Impaired loans by classification type and the related valuation allowance amounts at December 31, 2016 were as follows: At December 31, 2016 For the year ended Recorded Unpaid Related Average Interest (Dollars in Thousands) Impaired loans with no specific allowance 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 $ 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 September 30, 2017 and December 31, 2016 that the Company had previously modified in a TDR: Number of Pre-Modification Post Modification September 30, 2017 Non-residential 3 $ 3,371,435 3,371,435 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) | 9 Months Ended |
Sep. 30, 2017 | |
Banking and Thrift [Abstract] | |
Presentation of Balances in Foreclosed Assets | At September 30, 2017 and December 31, 2016, the Company had balances in foreclosed assets consisting of the following: September 30, 2017 December 31, 2016 (Dollars in Thousands) One-to-four $ 1,025 135 Home equity line of credit — 28 Multi-family real estate 750 1,775 Land 3,200 — Non-residential — 459 Total other assets owned $ 4,975 2,397 |
Summary of Foreclosed Properties Activity | For the nine month period ended September 30, 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 9/30/2017 (Dollars in Thousands) One-to-four $ 135 1,025 (147 ) — 12 $ 1,025 HELOC 28 — (18 ) (10 ) — — Multi-family 1,775 — (1,001 ) — (24 ) 750 Land — 3,200 — — — 3,200 Non-residential 459 43 (500 ) — (2 ) — Total $ 2,397 4,268 (1,666 ) (10 ) (14 ) $ 4,975 The Company’s activity in foreclosed assets for the nine month period ended September 30, 2016 is as follows: Activity During 2016 Balance Reduction Gain (Loss) Balance 12/31/2015 Foreclosure Sales in Values on Sale 9/30/2016 (Dollars in Thousands) One-to-four $ 55 — (43 ) — (12 ) — Home equity line of credit — 68 — — — 68 Multi-family — 141 — — — 141 Land 943 130 (987 ) — (13 ) 73 Non-residential 738 — (270 ) — (9 ) 459 Consumer — 15 (19 ) — 4 — Total $ 1,736 354 (1,319 ) — (30 ) $ 741 |
Fair Value of Assets and Liab27
Fair Value of Assets and Liabilities (Tables) | 9 Months Ended |
Sep. 30, 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 September 30, 2017 are summarized below: Description Total carrying Quoted Prices Significant Significant (Dollars in Thousands) Assets Securities available for sale U.S. Agency securities $ 89,829 — 89,829 — Taxable municipals 1,285 — 1,285 — Tax-free 28,231 — 28,231 — Trust preferred securities 1,717 — — 1,717 Mortgage backed securities 71,225 — 71,225 — Total $ 192,287 — 190,570 1,717 The assets and liabilities measured at fair value on a recurring basis at December 31, 2016 are summarized below: Total carrying Quoted Prices Significant Significant Description 12/31/2016 (Level 1) (Level 2) (Level 3) (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 In Active Significant Significant Description September 30, 2017 (Level 1) (Level 2) (Level 3) (Dollars in Thousands) Assets Foreclosed assets $ 4,975 — — $ 4,975 Impaired loans, net of allowance $ 666 — — $ 666 The assets and liabilities measured at fair value on a non-recurring Total carrying Quoted Prices Significant Significant 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 Fair Valuation Unobservable Quantitative Range (Dollars in Thousand) September 30, 2017 Assets measured on a non-recurring Foreclosed assets $ 4,975 Discount to appraised value Appraisal comparability 5% to 10% Impaired loans 666 Discount to appraised value of collateral Appraisal comparability 10% to 25% Asset measured on a recurring basis Trust preferred securities 1,717 Discounted cash flow Compare to quotes for One month December 31, 2016 Assets measured on a non-recurring Foreclosed assets $ 2,397 Discount to appraised value of collateral Appraisal comparability 30% to 55% Impaired loans 6,123 Discount to appraised value of collateral 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 nine month periods ended September 30, 2017 and September 30, 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 Nine month period ended September 30, Other Assets Other Assets (Dollars in Thousands) Fair value, January 1 $ 1,817 1,865 Change in unrealized gain included in other comprehensive income for assets and liabilities still held at September 30, (113 ) 105 Accretion of previously discounted amounts 13 13 Fair value, September 30 $ 1,717 1,983 |
Estimated Fair Values of Financial Instruments | The estimated fair values of financial instruments were as follows at September 30, 2017: Carrying Estimated Quoted Prices Using Significant (Dollars in Thousands) Financial Assets: Cash and due from banks $ 23,469 23,469 23,469 — — Interest-bearing deposits 9,842 9,842 9,842 — — Securities available for sale 192,287 192,287 — 190,570 1,717 Federal Home Loan Bank stock 4,428 4,428 — — 4,428 Loans held for sale 1,749 1,749 — 1,749 — Loans receivable 625,403 608,134 — — 608,134 Accrued interest receivable 3,414 3,414 — — 3,414 Financial liabilities: Deposits 731,229 731,960 — 731,960 — Advances from borrowers for taxes and insurance 1,188 1,188 — 1,188 — Advances from Federal Home Loan Bank 31,000 31,069 — 31,069 — Repurchase agreements 37,829 37,829 — 37,829 — 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) | 9 Months Ended |
Sep. 30, 2017 | |
Text Block [Abstract] | |
Summary of Shares Held by Employee Stock Ownership Plan (ESOP) | At September 30, 2017 and December 31, 2016, shares held by the ESOP were as follows: September 30, 2017 December 31, 2016 Accrued for allocation to participants 32,465 — Earned ESOP shares 101,654 101,654 Unearned ESOP shares 465,881 498,346 Total ESOP shares 600,000 600,000 Fair value of unearned shares $ 6,731,980 $ 6,707,737 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule of FHLB Borrowings | A schedule of FHLB borrowings at September 30, 2017 is provided below: Outstanding Balance Rate Maturity (Dollars in Thousands,Except Percentages) $ 8,000 1.27% Overnight 5,000 0.88% 10/06/2017 6,000 1.18% 07/06/2018 7,000 1.55% 01/10/2019 5,000 1.73% 01/10/2020 $ 31,000 1.33% A schedule of FHLB borrowings at December 31, 2016 is provided below: Outstanding Balance Rate Maturity (Dollars in Thousands, Except Percentages) $ 5,000 0.88 % 10/06/2017 6,000 1.18 % 07/06/2018 $ 11,000 1.04 % |
Regulatory Matters (Tables)
Regulatory Matters (Tables) | 9 Months Ended |
Sep. 30, 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 September 30, 2017 and December 31, 2016 are presented below: Actual Minimum Capital Phase-In To be Well Amount Ratio Amount Ratio Amount Ratio (Dollars in Thousands, Except Percentages) As of September 30, 2017 Tier 1 leverage capital to adjusted total assets Company $ 96,428 10.9 % $ 36,273 4.0 % $ 45,341 5.0 % Bank $ 94,196 10.6 % $ 35,461 4.0 % $ 44,326 5.0 % Total capital to risk weighted assets Company $ 101,228 16.3 % $ 57,354 9.25 % $ 62,005 10.0 % Bank $ 98,995 16.0 % $ 57,225 9.25 % $ 61,865 10.0 % Tier 1 capital to risk weighted assets Company $ 96,428 15.6 % $ 44,953 7.25 % $ 49,604 8.0 % Bank $ 94,196 15.2 % $ 44,852 7.25 % $ 49,492 8.0 % Common equity tier 1 capital to risk weighted assets Company $ 96,428 15.6 % $ 35,653 5.75 % n/a n/a Bank $ 94,196 15.2 % $ 35,573 5.75 % $ 40,213 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 % |
Earnings Per Share - Reconcilia
Earnings Per Share - Reconciliation of Basic and Diluted Income (Loss) Per Share (Detail) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Basic EPS: | ||||
Net income | $ 1,403,000 | $ 985,000 | $ 3,479,000 | $ 1,798,000 |
Average common shares outstanding | 6,236,075 | 6,212,231 | 6,227,955 | 6,247,536 |
Earnings per share | $ 0.22 | $ 0.16 | $ 0.56 | $ 0.29 |
Diluted EPS | ||||
Net income | $ 1,403,000 | $ 985,000 | $ 3,479,000 | $ 1,798,000 |
Average common shares outstanding | 6,236,075 | 6,212,231 | 6,227,955 | 6,247,536 |
Dilutive effect of stock options | 0 | 0 | 0 | 0 |
Average diluted shares outstanding | 6,236,075 | 6,212,231 | 6,227,955 | 6,247,536 |
Earnings per share, diluted | $ 0.22 | $ 0.16 | $ 0.56 | $ 0.29 |
Securities - Amortized Cost of
Securities - Amortized Cost of Securities and their Estimated Fair Values (Detail) - USD ($) $ in Thousands | Sep. 30, 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 | 191,094 | 208,651 |
Gross Unrealized Gains | 2,128 | 2,702 |
Gross Unrealized Losses | (935) | (1,873) |
Estimated Fair Value | 192,287 | 209,480 |
Estimated Fair Value, Less than 12 months | 59,002 | 99,141 |
Unrealized Losses, Less than 12 months | (393) | (1,577) |
Estimated Fair Value, 12 months or longer | 26,498 | 10,898 |
Unrealized Losses, 12 months or longer | (542) | (296) |
Estimated Fair Value | 85,500 | 110,039 |
Unrealized Losses | (935) | (1,873) |
U.S. Agency Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 89,419 | 83,667 |
Gross Unrealized Gains | 766 | 983 |
Gross Unrealized Losses | (356) | (638) |
Estimated Fair Value | 89,829 | 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 | 31,029 | 41,963 |
Unrealized Losses, Less than 12 months | (212) | (597) |
Estimated Fair Value, 12 months or longer | 8,217 | 3,459 |
Unrealized Losses, 12 months or longer | (144) | (41) |
Estimated Fair Value | 39,246 | 45,422 |
Unrealized Losses | (356) | (638) |
Taxable Municipals Bonds [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 1,281 | 2,720 |
Gross Unrealized Gains | 10 | 17 |
Gross Unrealized Losses | (6) | (10) |
Estimated Fair Value | 1,285 | 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 | 519 | 1,347 |
Unrealized Losses, Less than 12 months | (6) | (10) |
Estimated Fair Value | 519 | 1,347 |
Unrealized Losses | (6) | (10) |
Tax Free Municipal Bonds [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 27,349 | 33,004 |
Gross Unrealized Gains | 903 | 1,081 |
Gross Unrealized Losses | (21) | (174) |
Estimated Fair Value | 28,231 | 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 | 1,666 | 7,369 |
Unrealized Losses, Less than 12 months | (4) | (174) |
Estimated Fair Value, 12 months or longer | 928 | |
Unrealized Losses, 12 months or longer | (17) | |
Estimated Fair Value | 2,594 | 7,369 |
Unrealized Losses | (21) | (174) |
Mortgage-Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 71,399 | 85,626 |
Gross Unrealized Gains | 378 | 437 |
Gross Unrealized Losses | (552) | (1,051) |
Estimated Fair Value | 71,225 | 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 | 25,788 | 48,462 |
Unrealized Losses, Less than 12 months | (171) | (796) |
Estimated Fair Value, 12 months or longer | 17,353 | 7,439 |
Unrealized Losses, 12 months or longer | (381) | (255) |
Estimated Fair Value | 43,141 | 55,901 |
Unrealized Losses | (552) | (1,051) |
U.S. Treasury Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 2,000 | |
Gross Unrealized Gains | 1 | |
Estimated Fair Value | 2,001 | |
Trust Preferred Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 1,646 | 1,634 |
Gross Unrealized Gains | 71 | 183 |
Estimated Fair Value | $ 1,717 | $ 1,817 |
Securities - Maturities of Debt
Securities - Maturities of Debt Securities Available for Sale (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized cost of debt securities available for sale, due within one year | $ 3,830 | |
Amortized cost of debt securities available for sale, due in one to five years | 23,534 | |
Amortized cost of debt securities available for sale, due in five to ten years | 25,505 | |
Amortized cost of debt securities available for sale, due after ten years | 7,230 | |
Total amortized cost debt securities available for sale with specific maturities | 60,099 | |
Total securities available-for-sale at amortized cost | 191,094 | $ 208,651 |
Estimated fair value of debt securities available for sale, due within one year | 3,850 | |
Estimated fair value of debt securities available for sale, due in one to five years | 23,745 | |
Estimated fair value of debt securities available for sale, due in five to ten years | 25,847 | |
Estimated fair value of debt securities available for sale, due after ten years | 7,558 | |
Total estimated fair value of debt securities available for sale with specific maturities | 61,000 | |
Total securities available for sale at estimated fair value | 192,287 | 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 | 59,596 | |
Total estimated fair value of debt securities available for sale without specific maturities | 60,062 | |
Mortgage-Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total amortized cost of debt securities available for sale without specific maturities | 71,399 | |
Total securities available-for-sale at amortized cost | 71,399 | 85,626 |
Total estimated fair value of debt securities available for sale without specific maturities | 71,225 | |
Total securities available for sale at estimated fair value | $ 71,225 | $ 85,012 |
Securities - Additional Informa
Securities - Additional Information (Detail) $ in Millions | Sep. 30, 2017USD ($)Securities | Dec. 31, 2016USD ($) |
Investments, Debt and Equity Securities [Abstract] | ||
Number of securities with unrealized losses | Securities | 60 | |
Securities with market value sold under agreements to repurchase from various customers | $ 117.4 | $ 125.6 |
Securities pledged to municipalities for deposits in excess of FDIC limits, market value | $ 120.1 | $ 128.4 |
Loans - Additional Information
Loans - Additional Information (Detail) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2017USD ($)SecurityLoan | Dec. 31, 2016USD ($)SecurityLoan | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans past due more than 90 days and still accruing interest | $ | $ 0 | $ 0 |
Number of additional TDR | 0 | 8 |
Number of lending relationships | 2 | 3 |
Number of loans removed from TDR status | 1 | |
Troubled debt restructurings outstanding balance | $ | $ 2,200,000 | |
Number of additional TDR pay off | 3 | |
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 | |
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 | |
Number of lending relationships | 1 | |
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 | |
Real Estate Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and Leases receivable in percentage | 84.50% | 84.00% |
Loans - Composition of Loan Por
Loans - Composition of Loan Portfolio By Type of Loan (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Real estate loans: | ||
Total loans, gross | $ 630,582 | $ 610,837 |
Deferred loan fees, net of costs | (380) | (439) |
Less allowance for loan losses | (4,799) | (6,112) |
Total loans, net | 625,403 | 604,286 |
Multi-Family [Member] | ||
Real estate loans: | ||
Total loans, gross | 37,321 | 34,284 |
Consumer Loans [Member] | ||
Real estate loans: | ||
Total loans, gross | 9,222 | 8,717 |
Less allowance for loan losses | (146) | (208) |
Commercial Loans [Member] | ||
Real estate loans: | ||
Total loans, gross | 88,515 | 88,907 |
Less allowance for loan losses | (899) | (593) |
Junior Liens [Member] | ||
Real estate loans: | ||
Total loans, gross | 1,402 | 1,452 |
Real Estate Loans [Member] | ||
Real estate loans: | ||
Total loans, gross | 532,845 | 513,213 |
Real Estate Loans [Member] | Multi-Family [Member] | ||
Real estate loans: | ||
Total loans, gross | 37,321 | 34,284 |
Real Estate Loans [Member] | One-to-Four Family Mortgages [Member] | ||
Real estate loans: | ||
Total loans, gross | 165,926 | 147,962 |
Real Estate Loans [Member] | Home Equity Line of Credit [Member] | ||
Real estate loans: | ||
Total loans, gross | 34,995 | 35,684 |
Real Estate Loans [Member] | Construction [Member] | ||
Real estate loans: | ||
Total loans, gross | 25,594 | 39,255 |
Real Estate Loans [Member] | Land [Member] | ||
Real estate loans: | ||
Total loans, gross | 14,289 | 23,840 |
Real Estate Loans [Member] | Farmland [Member] | ||
Real estate loans: | ||
Total loans, gross | 37,262 | 47,796 |
Real Estate Loans [Member] | Non-Residential Real Estate [Member] | ||
Real estate loans: | ||
Total loans, gross | 216,056 | 182,940 |
Real Estate Loans [Member] | Junior Liens [Member] | ||
Real estate loans: | ||
Total loans, gross | 1,402 | 1,452 |
Total Other Loans [Member] | ||
Real estate loans: | ||
Total loans, gross | 97,737 | 97,624 |
Total Other Loans [Member] | Consumer Loans [Member] | ||
Real estate loans: | ||
Total loans, gross | 9,222 | 8,717 |
Total Other Loans [Member] | Commercial Loans [Member] | ||
Real estate loans: | ||
Total loans, gross | $ 88,515 | $ 88,907 |
Loans - Allowance for Loan Loss
Loans - Allowance for Loan Loss Account by Loan (Detail) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2017 | Sep. 30, 2016 | Dec. 31, 2016 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning balance | $ 6,112 | $ 5,700 | $ 5,700 |
Charge offs | (3,081) | (674) | (1,468) |
Recoveries | 1,347 | 639 | |
Provision | 421 | 1,241 | |
Ending balance | 4,799 | 6,112 | |
Multi-Family [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning balance | 412 | 227 | 227 |
Charge offs | (421) | ||
Recoveries | 417 | ||
Provision | (506) | 606 | |
Ending balance | 323 | 412 | |
One-to-Four Family Mortgages [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning balance | 852 | 1,030 | 1,030 |
Charge offs | (49) | ||
Recoveries | 9 | 167 | |
Provision | (79) | (345) | |
Ending balance | 733 | 852 | |
Home Equity Line of Credit [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning balance | 260 | 201 | 201 |
Charge offs | (30) | ||
Recoveries | 10 | 14 | |
Provision | (86) | 75 | |
Ending balance | 184 | 260 | |
Construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning balance | 277 | 377 | 377 |
Provision | (146) | (100) | |
Ending balance | 131 | 277 | |
Land [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning balance | 1,760 | 1,379 | 1,379 |
Charge offs | (2,608) | ||
Recoveries | 559 | ||
Provision | 1,535 | 381 | |
Ending balance | 1,246 | 1,760 | |
Farmland [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning balance | 778 | 358 | 358 |
Provision | (409) | 420 | |
Ending balance | 369 | 778 | |
Non-Residential Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning balance | 964 | 1,139 | 1,139 |
Recoveries | 13 | 10 | |
Provision | (215) | (185) | |
Ending balance | 762 | 964 | |
Junior Liens [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning balance | 8 | 8 | 8 |
Recoveries | 2 | 14 | |
Provision | (4) | (14) | |
Ending balance | 6 | 8 | |
Consumer Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning balance | 208 | 358 | 358 |
Charge offs | (200) | (422) | |
Recoveries | 70 | 293 | |
Provision | 68 | (21) | |
Ending balance | 146 | 208 | |
Commercial Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning balance | 593 | $ 623 | 623 |
Charge offs | (224) | (595) | |
Recoveries | 267 | 141 | |
Provision | 263 | 424 | |
Ending balance | $ 899 | $ 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 | Sep. 30, 2017 | Dec. 31, 2016 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Currently Performing | $ 612,990 | $ 578,173 |
30 - 89 Days Past Due | 754 | 1,211 |
Non-accrual Loans | 1,739 | 9,074 |
Special Mention | 5,621 | 2,114 |
Impaired Loans Currently Performing Substandard | 9,478 | 20,265 |
Impaired Loans Currently Performing Doubtful | 0 | 0 |
Total loans, gross | 630,582 | 610,837 |
Multi-Family [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Currently Performing | 37,321 | 31,280 |
Impaired Loans Currently Performing Substandard | 3,004 | |
Impaired Loans Currently Performing Doubtful | 0 | 0 |
Total loans, gross | 37,321 | 34,284 |
One-to-Four Family Mortgages [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Currently Performing | 164,817 | 145,069 |
30 - 89 Days Past Due | 582 | 896 |
Non-accrual Loans | 333 | 270 |
Special Mention | 51 | 744 |
Impaired Loans Currently Performing Substandard | 143 | 983 |
Impaired Loans Currently Performing Doubtful | 0 | 0 |
Total loans, gross | 165,926 | 147,962 |
Home Equity Line of Credit [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Currently Performing | 34,433 | 35,087 |
30 - 89 Days Past Due | 22 | |
Non-accrual Loans | 401 | 402 |
Special Mention | 25 | |
Impaired Loans Currently Performing Substandard | 161 | 148 |
Impaired Loans Currently Performing Doubtful | 0 | 0 |
Total loans, gross | 34,995 | 35,684 |
Construction [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Currently Performing | 25,594 | 39,255 |
Impaired Loans Currently Performing Doubtful | 0 | 0 |
Total loans, gross | 25,594 | 39,255 |
Land [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Currently Performing | 13,724 | 15,581 |
Non-accrual Loans | 40 | 7,675 |
Special Mention | 35 | |
Impaired Loans Currently Performing Substandard | 525 | 549 |
Impaired Loans Currently Performing Doubtful | 0 | 0 |
Total loans, gross | 14,289 | 23,840 |
Farmland [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Currently Performing | 35,626 | 44,832 |
Non-accrual Loans | 455 | |
Special Mention | 1,147 | 674 |
Impaired Loans Currently Performing Substandard | 34 | 2,290 |
Impaired Loans Currently Performing Doubtful | 0 | 0 |
Total loans, gross | 37,262 | 47,796 |
Non-Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Currently Performing | 207,765 | 172,395 |
30 - 89 Days Past Due | 165 | |
Non-accrual Loans | 208 | |
Special Mention | 778 | 3 |
Impaired Loans Currently Performing Substandard | 7,348 | 10,334 |
Impaired Loans Currently Performing Doubtful | 0 | 0 |
Total loans, gross | 216,056 | 182,940 |
Junior Liens [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Currently Performing | 1,398 | 1,407 |
30 - 89 Days Past Due | 4 | 4 |
Special Mention | 30 | |
Impaired Loans Currently Performing Substandard | 11 | |
Impaired Loans Currently Performing Doubtful | 0 | 0 |
Total loans, gross | 1,402 | 1,452 |
Consumer Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Currently Performing | 9,066 | 8,354 |
30 - 89 Days Past Due | 3 | 28 |
Non-accrual Loans | 5 | 3 |
Impaired Loans Currently Performing Substandard | 148 | 332 |
Impaired Loans Currently Performing Doubtful | 0 | 0 |
Total loans, gross | 9,222 | 8,717 |
Commercial Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Currently Performing | 83,246 | 84,913 |
30 - 89 Days Past Due | 261 | |
Non-accrual Loans | 505 | 516 |
Special Mention | 3,645 | 603 |
Impaired Loans Currently Performing Substandard | 1,119 | 2,614 |
Impaired Loans Currently Performing Doubtful | 0 | 0 |
Total loans, gross | $ 88,515 | $ 88,907 |
Loans - Allowance for Loan Lo39
Loans - Allowance for Loan Losses and Recorded Investment in Loans by Portfolio Segment and Impairment Method (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Individually evaluated for impairment | $ 322 | $ 1,148 |
Collectively evaluated for impairment | 4,477 | 4,964 |
Total ending allowance balance | 4,799 | 6,112 |
Loans individually evaluated for impairment | 11,217 | 29,339 |
Loans collectively evaluated for impairment | 619,365 | 581,498 |
Total ending loans balance | 630,582 | 610,837 |
Commercial Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Individually evaluated for impairment | 267 | 28 |
Collectively evaluated for impairment | 632 | 565 |
Total ending allowance balance | 899 | 593 |
Loans individually evaluated for impairment | 1,624 | 3,130 |
Loans collectively evaluated for impairment | 86,891 | 85,777 |
Total ending loans balance | 88,515 | 88,907 |
Land Development/Construction [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Individually evaluated for impairment | 1,036 | |
Collectively evaluated for impairment | 1,377 | 1,001 |
Total ending allowance balance | 1,377 | 2,037 |
Loans individually evaluated for impairment | 565 | 8,224 |
Loans collectively evaluated for impairment | 39,318 | 54,871 |
Total ending loans balance | 39,883 | 63,095 |
Commercial Real Estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Individually evaluated for impairment | 19 | |
Collectively evaluated for impairment | 1,435 | 2,154 |
Total ending allowance balance | 1,454 | 2,154 |
Loans individually evaluated for impairment | 7,837 | 15,836 |
Loans collectively evaluated for impairment | 282,802 | 249,184 |
Total ending loans balance | 290,639 | 265,020 |
Residential Real Estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Collectively evaluated for impairment | 923 | 1,120 |
Total ending allowance balance | 923 | 1,120 |
Loans individually evaluated for impairment | 1,038 | 1,814 |
Loans collectively evaluated for impairment | 201,285 | 183,284 |
Total ending loans balance | 202,323 | 185,098 |
Consumer Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Individually evaluated for impairment | 36 | 84 |
Collectively evaluated for impairment | 110 | 124 |
Total ending allowance balance | 146 | 208 |
Loans individually evaluated for impairment | 153 | 335 |
Loans collectively evaluated for impairment | 9,069 | 8,382 |
Total ending loans balance | $ 9,222 | $ 8,717 |
Loans - Summary of Company's Lo
Loans - Summary of Company's Loans by Credit Risk Indicator and Related Allowance (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | $ 630,582 | $ 610,837 |
Specific Allowance for Impairment | 322 | 1,148 |
Allowance for Loans not Impaired | 4,477 | 4,964 |
Multi-Family [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 37,321 | 34,284 |
Allowance for Loans not Impaired | 323 | 412 |
One-to-Four Family Mortgages [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 165,926 | 147,962 |
Allowance for Loans not Impaired | 733 | 852 |
Home Equity Line of Credit [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 34,995 | 35,684 |
Allowance for Loans not Impaired | 184 | 260 |
Construction [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 25,594 | 39,255 |
Allowance for Loans not Impaired | 131 | 277 |
Land [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 14,289 | 23,840 |
Specific Allowance for Impairment | 1,036 | |
Allowance for Loans not Impaired | 1,246 | 724 |
Non-Residential Real Estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 216,056 | 182,940 |
Specific Allowance for Impairment | 2 | |
Allowance for Loans not Impaired | 760 | 964 |
Farmland [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 37,262 | 47,796 |
Specific Allowance for Impairment | 17 | |
Allowance for Loans not Impaired | 352 | 778 |
Junior Liens [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 1,402 | 1,452 |
Allowance for Loans not Impaired | 6 | 8 |
Consumer Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 9,222 | 8,717 |
Specific Allowance for Impairment | 36 | 84 |
Allowance for Loans not Impaired | 110 | 124 |
Commercial Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 88,515 | 88,907 |
Specific Allowance for Impairment | 267 | 28 |
Allowance for Loans not Impaired | 632 | 565 |
Pass [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 613,744 | 579,384 |
Pass [Member] | Multi-Family [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 37,321 | 31,280 |
Pass [Member] | One-to-Four Family Mortgages [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 165,399 | 145,965 |
Pass [Member] | Home Equity Line of Credit [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 34,433 | 35,109 |
Pass [Member] | Construction [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 25,594 | 39,255 |
Pass [Member] | Land [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 13,724 | 15,581 |
Pass [Member] | Non-Residential Real Estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 207,930 | 172,395 |
Pass [Member] | Farmland [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 35,626 | 44,832 |
Pass [Member] | Junior Liens [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 1,402 | 1,411 |
Pass [Member] | Consumer Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 9,069 | 8,382 |
Pass [Member] | Commercial Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 83,246 | 85,174 |
Special Mention [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 5,621 | 2,114 |
Special Mention [Member] | One-to-Four Family Mortgages [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 51 | 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 | 35 | |
Special Mention [Member] | Non-Residential Real Estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 778 | 3 |
Special Mention [Member] | Farmland [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 1,147 | 674 |
Special Mention [Member] | Junior Liens [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 30 | |
Special Mention [Member] | Commercial Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 3,645 | 603 |
Impaired Loans Substandard [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 11,217 | 29,339 |
Impaired Loans Substandard [Member] | Multi-Family [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 3,004 | |
Impaired Loans Substandard [Member] | One-to-Four Family Mortgages [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 476 | 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 | 565 | 8,224 |
Impaired Loans Substandard [Member] | Non-Residential Real Estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 7,348 | 10,542 |
Impaired Loans Substandard [Member] | Farmland [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 489 | 2,290 |
Impaired Loans Substandard [Member] | Junior Liens [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 11 | |
Impaired Loans Substandard [Member] | Consumer Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 153 | 335 |
Impaired Loans Substandard [Member] | Commercial Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | $ 1,624 | $ 3,130 |
Loans - Impaired Loans by Class
Loans - Impaired Loans by Classification Type (Detail) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2017 | Dec. 31, 2016 | |
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment | $ 10,229 | $ 22,068 |
Total Recorded Investment | 11,217 | 29,339 |
Unpaid Principal Balance | 10,229 | 23,028 |
Total Unpaid Principal Balance | 11,217 | 30,299 |
Related Allowance | 0 | 0 |
Average Recorded Investment | 16,848 | 26,861 |
Interest Income Recognized | 435 | 1,020 |
Recorded Investment | 988 | 7,271 |
Unpaid Principal Balance | 988 | 7,271 |
Related Allowance | 322 | 1,148 |
Average Recorded Investment | 6,081 | 4,733 |
Total Average Recorded Investment | 22,929 | 31,594 |
Interest Income Recognized | 18 | 509 |
Total Interest Income Recognized | 453 | 1,529 |
Multi-Family [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment | 3,004 | |
Unpaid Principal Balance | 3,004 | |
Related Allowance | 0 | 0 |
Average Recorded Investment | 1,419 | 3,005 |
Interest Income Recognized | 172 | |
Average Recorded Investment | 910 | |
One-to-Four Family Mortgages [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment | 476 | 1,253 |
Unpaid Principal Balance | 476 | 1,253 |
Related Allowance | 0 | 0 |
Average Recorded Investment | 1,480 | 1,470 |
Interest Income Recognized | 26 | 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 | 559 | 390 |
Interest Income Recognized | 25 | 24 |
Construction [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Related Allowance | 0 | 0 |
Land [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment | 565 | 1,553 |
Unpaid Principal Balance | 565 | 2,513 |
Related Allowance | 0 | 0 |
Average Recorded Investment | 918 | 7,868 |
Interest Income Recognized | 35 | 38 |
Recorded Investment | 6,671 | |
Unpaid Principal Balance | 6,671 | |
Related Allowance | 1,036 | |
Average Recorded Investment | 5,008 | 1,811 |
Interest Income Recognized | 485 | |
Non-Residential Real Estate [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment | 7,328 | 10,542 |
Unpaid Principal Balance | 7,328 | 10,542 |
Related Allowance | 0 | 0 |
Average Recorded Investment | 9,452 | 9,363 |
Interest Income Recognized | 312 | 485 |
Recorded Investment | 20 | |
Unpaid Principal Balance | 20 | |
Related Allowance | 2 | |
Average Recorded Investment | 110 | |
Interest Income Recognized | 2 | |
Farmland [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment | 164 | 2,290 |
Unpaid Principal Balance | 164 | 2,290 |
Related Allowance | 0 | 0 |
Average Recorded Investment | 1,257 | 1,563 |
Interest Income Recognized | 2 | 120 |
Recorded Investment | 325 | |
Unpaid Principal Balance | 325 | |
Related Allowance | 17 | |
Average Recorded Investment | 244 | 533 |
Junior Liens [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment | 11 | |
Unpaid Principal Balance | 11 | |
Related Allowance | 0 | 0 |
Average Recorded Investment | 8 | 13 |
Interest Income Recognized | 1 | |
Consumer Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment | 9 | |
Unpaid Principal Balance | 9 | |
Related Allowance | 0 | 0 |
Average Recorded Investment | 10 | 21 |
Interest Income Recognized | 1 | |
Recorded Investment | 144 | 335 |
Unpaid Principal Balance | 144 | 335 |
Related Allowance | 36 | 84 |
Average Recorded Investment | 255 | 273 |
Commercial Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment | 1,125 | 2,865 |
Unpaid Principal Balance | 1,125 | 2,865 |
Related Allowance | 0 | 0 |
Average Recorded Investment | 1,745 | 3,168 |
Interest Income Recognized | 35 | 112 |
Recorded Investment | 499 | 265 |
Unpaid Principal Balance | 499 | 265 |
Related Allowance | 267 | 28 |
Average Recorded Investment | 464 | 754 |
Interest Income Recognized | $ 16 | $ 24 |
Loans - Summary of the Activity
Loans - Summary of the Activity in Loans Classified as TDRs (Detail) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2017USD ($)Contracts | Dec. 31, 2016USD ($)Contracts | |
Multi-Family [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | Contracts | 3 | |
Pre-Modification Outstanding Record Investment | $ 815,273 | |
Post Modification Outstanding Record Investment, net of related allowance | $ 815,273 | |
Non-Residential Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | Contracts | 3 | 5 |
Pre-Modification Outstanding Record Investment | $ 3,371,435 | $ 5,646,223 |
Post Modification Outstanding Record Investment, net of related allowance | $ 3,371,435 | $ 5,646,223 |
Foreclosed Assets - Additional
Foreclosed Assets - Additional Information (Detail) | 9 Months Ended |
Sep. 30, 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 | Sep. 30, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Dec. 31, 2015 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Total other assets owned | $ 4,975 | $ 2,397 | $ 741 | $ 1,736 |
Multi-Family [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Total other assets owned | 750 | 1,775 | 141 | |
One-to-Four Family Mortgages [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Total other assets owned | 1,025 | 135 | 55 | |
Home Equity Line of Credit [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Total other assets owned | 28 | 68 | ||
Land [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Total other assets owned | $ 3,200 | 73 | 943 | |
Non-Residential Real Estate [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Total other assets owned | $ 459 | $ 459 | $ 738 |
Foreclosed Assets - Summary of
Foreclosed Assets - Summary of Foreclosed Properties Activity (Detail) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2017 | Sep. 30, 2016 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Beginning Balance | $ 2,397 | $ 1,736 |
Foreclosure | 4,268 | 354 |
Sales | (1,666) | (1,319) |
Reduction in Values | (10) | |
Gain (Loss) on Sale | (14) | (30) |
Ending Balance | 4,975 | 741 |
Multi-Family [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Beginning Balance | 1,775 | |
Foreclosure | 141 | |
Sales | (1,001) | |
Gain (Loss) on Sale | (24) | |
Ending Balance | 750 | 141 |
Consumer Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Foreclosure | 15 | |
Sales | (19) | |
Gain (Loss) on Sale | 4 | |
One-to-Four Family Mortgages [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Beginning Balance | 135 | 55 |
Foreclosure | 1,025 | |
Sales | (147) | (43) |
Gain (Loss) on Sale | 12 | (12) |
Ending Balance | 1,025 | |
Home Equity Line of Credit [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Beginning Balance | 28 | |
Foreclosure | 68 | |
Sales | (18) | |
Reduction in Values | (10) | |
Ending Balance | 68 | |
Land [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Beginning Balance | 943 | |
Foreclosure | 3,200 | 130 |
Sales | (987) | |
Gain (Loss) on Sale | (13) | |
Ending Balance | 3,200 | 73 |
Non-Residential Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Beginning Balance | 459 | 738 |
Foreclosure | 43 | |
Sales | (500) | (270) |
Gain (Loss) on Sale | $ (2) | (9) |
Ending Balance | $ 459 |
Fair Value of Assets and Liab46
Fair Value of Assets and Liabilities - Additional information (Detail) | 9 Months Ended |
Sep. 30, 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 Liab47
Fair Value of Assets and Liabilities - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Assets | ||
Securities available for sale | $ 192,287 | $ 209,480 |
U.S. Treasury Securities [Member] | ||
Assets | ||
Securities available for sale | 2,001 | |
U.S. Agency Securities [Member] | ||
Assets | ||
Securities available for sale | 89,829 | 84,012 |
Taxable Municipals Bonds [Member] | ||
Assets | ||
Securities available for sale | 1,285 | 2,727 |
Tax Free Municipal Bonds [Member] | ||
Assets | ||
Securities available for sale | 28,231 | 33,911 |
Trust Preferred Securities [Member] | ||
Assets | ||
Securities available for sale | 1,717 | 1,817 |
Mortgage-Backed Securities [Member] | ||
Assets | ||
Securities available for sale | 71,225 | 85,012 |
Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Securities available for sale | 192,287 | 209,480 |
Fair Value, Measurements, Recurring [Member] | U.S. Treasury Securities [Member] | ||
Assets | ||
Securities available for sale | 2,001 | |
Fair Value, Measurements, Recurring [Member] | U.S. Agency Securities [Member] | ||
Assets | ||
Securities available for sale | 89,829 | 84,012 |
Fair Value, Measurements, Recurring [Member] | Taxable Municipals Bonds [Member] | ||
Assets | ||
Securities available for sale | 1,285 | 2,727 |
Fair Value, Measurements, Recurring [Member] | Tax Free Municipal Bonds [Member] | ||
Assets | ||
Securities available for sale | 28,231 | 33,911 |
Fair Value, Measurements, Recurring [Member] | Trust Preferred Securities [Member] | ||
Assets | ||
Securities available for sale | 1,717 | 1,817 |
Fair Value, Measurements, Recurring [Member] | Mortgage-Backed Securities [Member] | ||
Assets | ||
Securities available for sale | 71,225 | 85,012 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Assets | ||
Securities available for sale | 2,001 | |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Securities available for sale | 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 | 2,001 | |
Significant Other Observable Inputs (Level 2) [Member] | ||
Assets | ||
Securities available for sale | 190,570 | 205,662 |
Significant Other Observable Inputs (Level 2) [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Securities available for sale | 190,570 | 205,662 |
Significant Other Observable Inputs (Level 2) [Member] | Fair Value, Measurements, Recurring [Member] | U.S. Agency Securities [Member] | ||
Assets | ||
Securities available for sale | 89,829 | 84,012 |
Significant Other Observable Inputs (Level 2) [Member] | Fair Value, Measurements, Recurring [Member] | Taxable Municipals Bonds [Member] | ||
Assets | ||
Securities available for sale | 1,285 | 2,727 |
Significant Other Observable Inputs (Level 2) [Member] | Fair Value, Measurements, Recurring [Member] | Tax Free Municipal Bonds [Member] | ||
Assets | ||
Securities available for sale | 28,231 | 33,911 |
Significant Other Observable Inputs (Level 2) [Member] | Fair Value, Measurements, Recurring [Member] | Mortgage-Backed Securities [Member] | ||
Assets | ||
Securities available for sale | 71,225 | 85,012 |
Significant Unobservable Inputs (Level 3) [Member] | ||
Assets | ||
Securities available for sale | 1,717 | 1,817 |
Significant Unobservable Inputs (Level 3) [Member] | Fair Value, Measurements, Recurring [Member] | ||
Assets | ||
Securities available for sale | 1,717 | 1,817 |
Significant Unobservable Inputs (Level 3) [Member] | Fair Value, Measurements, Recurring [Member] | Trust Preferred Securities [Member] | ||
Assets | ||
Securities available for sale | $ 1,717 | $ 1,817 |
Fair Value of Assets and Liab48
Fair Value of Assets and Liabilities - Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Dec. 31, 2015 |
Assets | ||||
Foreclosed assets | $ 4,975 | $ 2,397 | $ 741 | $ 1,736 |
Fair Value, Measurements, Nonrecurring [Member] | ||||
Assets | ||||
Foreclosed assets | 4,975 | 2,397 | ||
Impaired loans, net of allowance | 666 | 6,123 | ||
Significant Unobservable Inputs (Level 3) [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||||
Assets | ||||
Foreclosed assets | 4,975 | 2,397 | ||
Impaired loans, net of allowance | $ 666 | $ 6,123 |
Fair Value of Assets and Liab49
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 | 9 Months Ended | 12 Months Ended |
Sep. 30, 2017 | Dec. 31, 2016 | |
Fair Value, Measurements, Nonrecurring [Member] | Foreclosed Assets [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair Value | $ 4,975 | $ 2,397 |
Valuation Technique | Discount to appraised value of collateral. Auction results | 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 | $ 666 | $ 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 | 5.00% | 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 | 10.00% | 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 | $ 1,717 | $ 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 | 5.00% | 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 | 8.00% | 6.00% |
Fair Value of Assets and Liab50
Fair Value of Assets and Liabilities - Roll-Forward of the Consolidated Condensed Statement of Financial Condition Items (Detail) - Other Assets [Member] - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2017 | Sep. 30, 2016 | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Fair value, Beginning balance | $ 1,817 | $ 1,865 |
Change in unrealized gain included in other comprehensive income for assets and liabilities still held at June 30, | (113) | 105 |
Accretion of previously discounted amounts | 13 | 13 |
Fair value, Ending balance | $ 1,717 | $ 1,983 |
Fair Value of Assets and Liab51
Fair Value of Assets and Liabilities - Estimated Fair Values of Financial Instruments (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Financial Assets: | ||
Securities available for sale | $ 192,287 | $ 209,480 |
Financial liabilities: | ||
Repurchase agreements | 117,400 | 125,600 |
Amortized Cost [Member] | ||
Financial Assets: | ||
Cash and due from banks | 23,469 | 21,779 |
Interest-bearing deposits | 9,842 | 3,970 |
Securities available for sale | 192,287 | 209,480 |
Federal Home Loan Bank stock | 4,428 | 4,428 |
Loans held for sale | 1,749 | 1,094 |
Loans receivable | 625,403 | 604,286 |
Accrued interest receivable | 3,414 | 3,799 |
Financial liabilities: | ||
Deposits | 731,229 | 732,882 |
Advances from borrowers for taxes and insurance | 1,188 | 766 |
Advances from Federal Home Loan Bank | 31,000 | 11,000 |
Repurchase agreements | 37,829 | 47,655 |
Subordinated debentures | 10,310 | 10,310 |
Estimated Fair Value [Member] | ||
Financial Assets: | ||
Cash and due from banks | 23,469 | 21,779 |
Interest-bearing deposits | 9,842 | 3,970 |
Securities available for sale | 192,287 | 209,480 |
Federal Home Loan Bank stock | 4,428 | 4,428 |
Loans held for sale | 1,749 | 1,094 |
Loans receivable | 608,134 | 593,257 |
Accrued interest receivable | 3,414 | 3,799 |
Financial liabilities: | ||
Deposits | 731,960 | 732,942 |
Advances from borrowers for taxes and insurance | 1,188 | 766 |
Advances from Federal Home Loan Bank | 31,069 | 10,979 |
Repurchase agreements | 37,829 | 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 | 23,469 | 21,779 |
Interest-bearing deposits | 9,842 | 3,970 |
Securities available for sale | 2,001 | |
Significant Other Observable Inputs (Level 2) [Member] | ||
Financial Assets: | ||
Securities available for sale | 190,570 | 205,662 |
Loans held for sale | 1,749 | 1,094 |
Financial liabilities: | ||
Deposits | 731,960 | 732,942 |
Advances from borrowers for taxes and insurance | 1,188 | 766 |
Advances from Federal Home Loan Bank | 31,069 | 10,979 |
Repurchase agreements | 37,829 | 47,655 |
Significant Unobservable Inputs (Level 3) [Member] | ||
Financial Assets: | ||
Securities available for sale | 1,717 | 1,817 |
Federal Home Loan Bank stock | 4,428 | 4,428 |
Loans receivable | 608,134 | 593,257 |
Accrued interest receivable | 3,414 | 3,799 |
Financial liabilities: | ||
Subordinated debentures | $ 10,099 | $ 10,099 |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) - USD ($) | 9 Months Ended | |
Sep. 30, 2017 | Dec. 31, 2016 | |
Income Tax Benefit [Line Items] | ||
Unrecognized tax benefits | $ 0 | |
Effective tax rate | 35.00% | |
Bank owned life insurance | $ 10,287,000 | $ 10,662,000 |
Proceeds from life insurance policy | 160,000 | |
Securities available for sale | $ 192,287,000 | 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 | $ 28,231,000 | $ 33,911,000 |
Esop - Additional Information (
Esop - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions | 9 Months Ended | 12 Months Ended |
Sep. 30, 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 | $ 7.9 | |
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 ($) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2017 | Dec. 31, 2016 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||
Accrued for allocation to participants | 32,465 | |
Earned ESOP shares | 101,654 | 101,654 |
Unearned ESOP shares | 465,881 | 498,346 |
Total ESOP shares | 600,000 | 600,000 |
Fair value of unearned shares | $ 6,731,980 | $ 6,707,737 |
Commitments and Contingencies -
Commitments and Contingencies - Additional Information (Detail) - USD ($) | Sep. 30, 2017 | Dec. 31, 2016 |
Loss Contingencies [Line Items] | ||
Undisbursed loan commitments | $ 62,900,000 | |
Time deposits | 308,801,000 | $ 293,078,000 |
Outstanding borrowings | 31,000,000 | 11,000,000 |
Securities with a fair market value sold under agreements to repurchase from various customers | 117,400,000 | 125,600,000 |
Securities pledged to municipalities for deposits in excess of FDIC limits, market value | 120,100,000 | $ 128,400,000 |
Federal Home Loan Bank of Cincinnati [Member] | ||
Loss Contingencies [Line Items] | ||
Letters of credit | 47,600,000 | |
Securities with a fair market value sold under agreements to repurchase from various customers | 38,100,000 | |
Securities pledged to municipalities for deposits in excess of FDIC limits, market value | 39,300,000 | |
Standby Letters of Credit [Member] | ||
Loss Contingencies [Line Items] | ||
Letters of credit | 140,000 | |
Home Equity Lines of Credit [Member] | ||
Loss Contingencies [Line Items] | ||
Lines of credit outstanding | 33,300,000 | |
Personal Lines of Credit [Member] | ||
Loss Contingencies [Line Items] | ||
Lines of credit outstanding | 16,000,000 | |
Loan Origination Commitments [Member] | ||
Loss Contingencies [Line Items] | ||
Outstanding commitments | 50,900,000 | |
One Year [Member] | ||
Loss Contingencies [Line Items] | ||
Time deposits | 38,300,000 | |
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 | 73,000,000 | |
One Year Or Less [Member] | Minimum [Member] | ||
Loss Contingencies [Line Items] | ||
Certificates of deposits | $ 250,000 |
Commitments and Contingencies56
Commitments and Contingencies - Schedule of FHLB Borrowings (Detail) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2017 | Dec. 31, 2016 | |
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ||
Outstanding Balance | $ 31,000 | $ 11,000 |
Rate | 1.33% | 1.04% |
Overnight [Member] | ||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ||
Outstanding Balance | $ 8,000 | |
Rate | 1.27% | |
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 |
January 10, 2019 [Member] | ||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ||
Outstanding Balance | $ 7,000 | |
Rate | 1.55% | |
Maturity | Jan. 10, 2019 | |
January 10, 2020 [Member] | ||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ||
Outstanding Balance | $ 5,000 | |
Rate | 1.73% | |
Maturity | Jan. 10, 2020 |
Regulatory Matters - Additional
Regulatory Matters - Additional Information (Detail) - USD ($) $ in Thousands | 1 Months Ended | 9 Months Ended | ||
Jan. 31, 2016 | Sep. 30, 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% | ||
Common equity Tier 1 risk-based capital ratio | 15.60% | 15.20% | ||
Minimum capital conservation buffer | 0.625% | 1.25% | ||
Total assets | $ 15,000,000 | |||
Common equity tier 1 capital assets | 44,953 | $ 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 | Sep. 30, 2017 | Dec. 31, 2016 |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Tier 1 leverage capital to adjusted total assets, Actual Amount | $ 96,428 | $ 92,803 |
Tier 1 leverage capital to adjusted total assets, Minimum Capital Required - Basel III Phase-In Schedule, Amount | 36,273 | 34,392 |
Tier 1 leverage capital to adjusted total assets, To be Well Capitalized for Prompt Corrective Action Provision, Amount | 45,341 | 42,990 |
Total capital to risk weighted assets, Actual Amount | 101,228 | 98,915 |
Total capital to risk weighted assets, Minimum Capital Required - Basel III Phase-In Schedule, Amount | 57,354 | 52,682 |
Total capital to risk weighted assets, To be Well Capitalized for Prompt Corrective Action Provision, Amount | 62,005 | 61,080 |
Tier 1 capital to risk weighted assets, Actual Amount | 96,428 | 92,803 |
Tier 1 capital to risk weighted assets, Minimum Capital Required - Basel III Phase-In Schedule, Amount | 44,953 | 40,466 |
Tier 1 capital to risk weighted assets, To be Well Capitalized for Prompt Corrective Action Provision, Amount | 49,604 | 48,864 |
Common equity tier 1 capital to risk weighted assets, Actual Amount | 96,428 | 92,803 |
Common equity tier 1 capital to risk weighted assets, Minimum Capital Required - Basel III Phase-In Schedule, Amount | $ 35,653 | $ 31,304 |
Tier 1 leverage capital to adjusted total assets, Actual Ratio | 10.90% | 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 | 16.30% | 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 | 15.60% | 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 | 15.60% | 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 | $ 94,196 | $ 91,617 |
Tier 1 leverage capital to adjusted total assets, Minimum Capital Required - Basel III Phase-In Schedule, Amount | 35,461 | 34,315 |
Tier 1 leverage capital to adjusted total assets, To be Well Capitalized for Prompt Corrective Action Provision, Amount | 44,326 | 42,894 |
Total capital to risk weighted assets, Actual Amount | 98,995 | 97,729 |
Total capital to risk weighted assets, Minimum Capital Required - Basel III Phase-In Schedule, Amount | 57,225 | 52,561 |
Total capital to risk weighted assets, To be Well Capitalized for Prompt Corrective Action Provision, Amount | 61,865 | 60,941 |
Tier 1 capital to risk weighted assets, Actual Amount | 94,196 | 91,617 |
Tier 1 capital to risk weighted assets, Minimum Capital Required - Basel III Phase-In Schedule, Amount | 44,852 | 40,373 |
Tier 1 capital to risk weighted assets, To be Well Capitalized for Prompt Corrective Action Provision, Amount | 49,492 | 48,753 |
Common equity tier 1 capital to risk weighted assets, Actual Amount | 94,196 | 91,617 |
Common equity tier 1 capital to risk weighted assets, Minimum Capital Required - Basel III Phase-In Schedule, Amount | 35,573 | 31,232 |
Common equity tier 1 capital to risk weighted assets, To be Well Capitalized for Prompt Corrective Action Provision, Amount | $ 40,213 | $ 39,611 |
Tier 1 leverage capital to adjusted total assets, Actual Ratio | 10.60% | 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 | 15.20% | 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 | 15.20% | 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% |