Document and Entity Information
Document and Entity Information - shares | 3 Months Ended | |
Mar. 31, 2018 | May 08, 2018 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Mar. 31, 2018 | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q1 | |
Trading Symbol | HFBC | |
Entity Registrant Name | HOPFED BANCORP INC | |
Entity Central Index Key | 1,041,550 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 6,648,221 |
Interim Consolidated Condensed
Interim Consolidated Condensed Statements of Financial Condition - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Assets | ||
Cash and due from banks | $ 18,472 | $ 37,965 |
Interest-bearing deposits in banks | 3,149 | 7,111 |
Cash and cash equivalents | 21,621 | 45,076 |
Federal Home Loan Bank stock, at cost | 4,428 | 4,428 |
Securities available for sale | 180,212 | 184,791 |
Loans held for sale | 2,706 | 1,539 |
Loans receivable, net of allowance for loan losses of $4,654 at March 31, 2018 and $4,826 at December 31, 2017 | 660,524 | 637,102 |
Accrued interest receivable | 3,212 | 3,589 |
Foreclosed assets, net | 3,329 | 3,369 |
Bank owned life insurance | 10,439 | 10,368 |
Premises and equipment, net | 22,619 | 22,700 |
Deferred tax assets | 2,127 | 1,764 |
Other assets | 2,748 | 2,784 |
Total assets | 913,965 | 917,510 |
Deposits: | ||
Non-interest-bearing accounts | 139,093 | 136,197 |
Interest-bearing accounts | ||
Checking accounts | 219,483 | 208,496 |
Savings and money market accounts | 101,153 | 104,347 |
Other time deposits | 287,077 | 304,969 |
Total deposits | 746,806 | 754,009 |
Advances from Federal Home Loan Bank | 25,000 | 23,000 |
Repurchase agreements | 41,792 | 38,353 |
Subordinated debentures | 10,310 | 10,310 |
Advances from borrowers for taxes and insurance | 780 | 808 |
Accrued expenses and other liabilities | 2,524 | 3,618 |
Total liabilities | 827,212 | 830,098 |
Stockholders' equity | ||
Preferred stock, par value $0.01 per share; authorized - 500,000 shares; no shares issued and outstanding at March 31, 2018 and December 31, 2017 | ||
Common stock, par value $.01 per share; authorized 15,000,000 shares; 7,988,983 issued and 6,648,589 outstanding at March 31, 2018 and 7,976,131 issued and 6,637,711 outstanding at December 31, 2017 | 80 | 80 |
Additional paid-in-capital | 58,875 | 58,825 |
Retained earnings | 51,957 | 51,162 |
Treasury stock, at cost (1,340,394 shares at March 31, 2018 and 1,338,360 shares at December 31, 2017) | (16,684) | (16,655) |
Unearned Employee Stock Ownership Plan ("ESOP") shares, at cost (423,675 shares at March 31, 2018 and 434,548 share at December 31, 2017) | (5,758) | (5,901) |
Accumulated other comprehensive income | (1,717) | (99) |
Total stockholders' equity | 86,753 | 87,412 |
Total liabilities and stockholders' equity | $ 913,965 | $ 917,510 |
Interim Consolidated Condensed3
Interim Consolidated Condensed Statements of Financial Condition (Parenthetical) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Statement of Financial Position [Abstract] | ||
Loans receivable, allowance for loan losses | $ 4,654 | $ 4,826 |
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 | 7,988,983 | 7,976,131 |
Common stock, shares outstanding | 6,648,589 | 6,637,711 |
Treasury stock, shares | 1,340,394 | 1,338,360 |
Unearned ESOP shares | 423,675 | 434,548 |
Interim Consolidated Condensed4
Interim Consolidated Condensed Statements of Income - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Interest and dividend income: | ||
Loans | $ 7,477 | $ 6,736 |
Investment in securities, taxable | 1,079 | 1,118 |
Nontaxable securities available for sale | 213 | 283 |
Interest-bearing deposits | 29 | 23 |
Total interest and dividend income | 8,798 | 8,160 |
Interest expense: | ||
Deposits | 1,244 | 1,167 |
FHLB borrowings | 92 | 32 |
Repurchase agreements | 154 | 103 |
Subordinated debentures | 122 | 104 |
Total interest expense | 1,612 | 1,406 |
Net interest income | 7,186 | 6,754 |
Provision for loan losses | 68 | 291 |
Net interest income after provision for loan losses | 7,118 | 6,463 |
Non-interest income: | ||
Service charges | 706 | 804 |
Merchant card | 308 | 302 |
Mortgage origination revenue | 319 | 334 |
Gain on sale of securities | 27 | 2 |
Income from bank owned life insurance | 71 | 235 |
Income from financial services | 138 | 140 |
Other operating income | 175 | 479 |
Total non-interest income | 1,744 | 2,296 |
Non-interest expenses: | ||
Salaries and benefits | 4,117 | 4,236 |
Occupancy | 782 | 775 |
Data processing | 784 | 764 |
State deposit tax | 169 | 231 |
Professional services | 466 | 348 |
Advertising | 308 | 381 |
Foreclosure, net | (6) | 108 |
Other | 920 | 846 |
Total non-interest expense | 7,540 | 7,689 |
Income before income tax expense | 1,322 | 1,070 |
Income tax expense | 196 | 135 |
Net income | $ 1,126 | $ 935 |
Earnings per share: | ||
Basic | $ 0.18 | $ 0.15 |
Diluted | 0.18 | 0.15 |
Dividend per share | $ 0.05 | $ 0.04 |
Weighted average shares outstanding - basic | 6,188,413 | 6,218,706 |
Weighted average shares outstanding - diluted | 6,188,413 | 6,218,706 |
Interim Consolidated Condensed5
Interim Consolidated Condensed Statements of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Statement of Comprehensive Income [Abstract] | ||
Net income | $ 1,126 | $ 935 |
Other comprehensive income, net of tax: | ||
Unrealized gain (loss) on non-other than temporary impaired investment securities available for sale, net of taxes of $486 and ($121) for the three month periods ended March 31, 2018 and March 31, 2017, respectively. | (1,830) | 235 |
Unrealized gain (loss) on OTTI securities, net of taxes of ($61) and $29 for the three month periods ended March 31, 2018 and March 31, 2017. | 233 | (57) |
Reclassification adjustment for gains included in net income, net of taxes of $6 and $1 for the three month periods ended March 31, 2018 and March 31, 2017, respectively. | (21) | (1) |
Total other comprehensive income (loss) | (1,618) | 177 |
Comprehensive income (loss) | $ (492) | $ 1,112 |
Interim Consolidated Condensed6
Interim Consolidated Condensed Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Statement of Comprehensive Income [Abstract] | ||
Unrealized gain (loss) on investment securities available for sale, tax effect | $ 486 | $ (121) |
Unrealized gain (loss) on OTTI securities, tax effect | (61) | 29 |
Reclassification adjustment for other than temporary impairment included in net income, tax effect | $ 6 | $ 1 |
Interim Consolidated Condensed7
Interim Consolidated Condensed Statement of Stockholders' Equity - 3 months ended Mar. 31, 2018 - 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, 2017 | $ 87,412 | $ 80 | $ 58,825 | $ 51,162 | $ (16,655) | $ (5,901) | $ (99) |
Beginning balance, Shares at Dec. 31, 2017 | 6,637,771 | ||||||
Restricted stock awards | 0 | $ 0 | 0 | 0 | 0 | 0 | 0 |
Restricted stock awards, shares | 12,852 | ||||||
Net income | 1,126 | 1,126 | |||||
Repurchase of treasury stock | (29) | (29) | |||||
Repurchase of treasury stock, shares | (2,034) | ||||||
ESOP shares committed to be released | 143 | 143 | |||||
Change in price of ESOP shares | 20 | 20 | |||||
Compensation expense, restricted stock awards | 30 | 30 | |||||
Net change in unrealized gain on securities available for sale, net of income taxes of $431 | (1,618) | (1,618) | |||||
Cash dividend declared to common shareholders | (331) | (331) | |||||
Ending balance at Mar. 31, 2018 | $ 86,753 | $ 80 | $ 58,875 | $ 51,957 | $ (16,684) | $ (5,758) | $ (1,717) |
Ending balance, Shares at Mar. 31, 2018 | 6,648,589 |
Interim Consolidated Condensed8
Interim Consolidated Condensed Statement of Stockholders' Equity (Parenthetical) $ in Thousands | 3 Months Ended |
Mar. 31, 2018USD ($) | |
Net change in unrealized gain (losses) on securities available for sale, taxes | $ 431 |
Accumulated Other Comprehensive Income [Member] | |
Net change in unrealized gain (losses) on securities available for sale, taxes | $ 431 |
Interim Consolidated Condensed9
Interim Consolidated Condensed Statements of Cash Flows - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Cash flows from operating activities: | ||
Net cash provided by operating activities | $ 960 | $ 3,180 |
Cash flows from investing activities: | ||
Proceeds from sales, calls and maturities of securities available for sale | 7,013 | 15,598 |
Purchase of securities available for sale | (4,210) | (13,728) |
Net increase in loans | (24,922) | (11,528) |
Proceeds from sale of foreclosed assets | 78 | 329 |
Proceeds from sale of premises and equipment | 0 | 0 |
Purchase of premises and equipment | (222) | (70) |
Net cash used in investing activities | (22,263) | (9,399) |
Cash flows from financing activities: | ||
Net increase in demand deposits | 10,689 | 14,100 |
Net (decrease) increase in time and other deposits | (17,892) | 18,761 |
(Decrease) increase in advances from borrowers for taxes and insurance | (28) | 101 |
Advances from Federal Home Loan Bank | 12,000 | 22,000 |
Repayment of advances from Federal Home Loan Bank | (10,000) | (22,000) |
Net increase (decrease) in repurchase agreements | 3,439 | (2,163) |
Cash used to repurchase treasury stock | (29) | (9) |
Dividends paid on common stock | (331) | (249) |
Net cash provided by (used in) financing activities | (2,152) | 30,541 |
Increase (decrease) in cash and cash equivalents | (23,455) | 24,322 |
Cash and cash equivalents, beginning of period | 45,076 | 25,749 |
Cash and cash equivalents, end of period | 21,621 | 50,071 |
Supplemental disclosures of cash flow information: | ||
Interest paid | 1,640 | 1,396 |
Income taxes paid | 0 | 0 |
Supplemental disclosures of non-cash investing and financing activities: | ||
Loans charged off | 275 | 239 |
Foreclosures of loans during period | 25 | 43 |
Net unrealized gains (losses) on investment securities classified as available for sale | (2,049) | 268 |
Increase (decrease) in deferred tax asset related to unrealized gains losses investments | 431 | (91) |
Dividends declared and payable | 353 | $ 288 |
Issuance of restricted common stock | $ 145 |
Basis of Presentation
Basis of Presentation | 3 Months Ended |
Mar. 31, 2018 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Presentation | (1) BASIS OF PRESENTATION The accompanying unaudited interim consolidated condensed financial statements include the accounts of HopFed Bancorp, Inc. (the “Corporation” or “HopFed”) 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 | 3 Months Ended |
Mar. 31, 2018 | |
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 month periods ended March 31, 2018 and March 31, 2017, the Company has excluded all unearned shares held by the ESOP. For the three month Periods 2018 2017 Basic EPS: Net income $ 1,126,000 $ 935,000 Average common shares outstanding 6,188,413 6,218,706 Earnings per share $ 0.18 $ 0.15 Diluted EPS Net income $ 1,126,000 $ 935,000 Average common shares outstanding 6,188,413 6,218,706 Dilutive effect of stock options — — Average diluted shares outstanding 6,188,413 6,218,706 Earnings per share, diluted $ 0.18 $ 0.15 |
Securities
Securities | 3 Months Ended |
Mar. 31, 2018 | |
Cash and Cash Equivalents [Abstract] | |
Securities | (3) SECURITIES The carrying amount of securities and their estimated fair values at March 31, 2018 and December 31, 2017 were as follows: March 31, 2018 Amortized Gross Gross Estimated (Dollars in Thousands) Restricted: FHLB stock $ 4,428 — — 4,428 Available for sale: U.S. Agency securities $ 81,263 241 (1,358 ) 80,146 Taxable municipal bonds 1,277 1 (5 ) 1,273 Tax free municipal bonds 26,412 441 (185 ) 26,668 Trust preferred securities 1,655 325 — 1,980 Mortgage backed securities 71,772 113 (1,740 ) 70,145 $ 182,379 1,121 (3,288 ) 180,212 December 31, 2017 Amortized Gross Gross Estimated (Dollars in Thousands) Restricted: FHLB stock $ 4,428 — — 4,428 Available for sale: U.S. Agency securities 84,210 536 (653 ) 84,093 Taxable municipal bonds 1,279 5 (1 ) 1,283 Tax free municipal bonds 26,412 637 (83 ) 26,966 Trust preferred securities 1,650 35 — 1,685 Mortgage-backed securities 71,389 201 (826 ) 70,764 $ 184,940 1,414 (1,563 ) 184,791 The scheduled maturities of debt securities available for sale at March 31, 2018 were as follows: Amortized Estimated (Dollars in Thousands) Due within one year $ 3,103 $ 3,123 Due in one to five years 29,802 29,394 Due in five to ten years 16,013 15,885 Due after ten years 7,226 7,643 56,144 56,045 Amortizing agency bonds 54,463 54,022 Mortgage-backed securities 71,772 70,145 Total securities available for sale $ 182,379 $ 180,212 The estimated fair value and unrealized loss amounts of temporarily impaired investments as of March 31, 2018 were as follows: Less than 12 months 12 months or longer Total Estimated Unrealized Estimated Unrealized Estimated Unrealized (Dollars in Thousands) Available for sale U.S. Agency securities $ 50,671 (1,046 ) 10,343 (312 ) 61,014 (1,358 ) Taxable municipal bonds 515 (5 ) — — 515 (5 ) Tax free municipal bonds 6,810 (140 ) 900 (45 ) 7,710 (185 ) Mortgage-backed securities 43,853 (976 ) 20,975 (764 ) 64,828 (1,740 ) Total available for sale $ 101,849 (2,167 ) 32,218 (1,121 ) 134,067 (3,288 ) The estimated fair value and unrealized loss amounts of temporarily impaired investments as of December 31, 2017 were as follows: Less than 12 months 12 months or longer Total Estimated Unrealized Estimated Unrealized Estimated Unrealized Fair Value Losses Fair Value Losses Fair Value Losses (Dollars in Thousands) Available for sale U.S. Agency securities $ 41,501 (431 ) 9,846 (222 ) 51,347 (653 ) Taxable municipal bonds 521 (1 ) — — 521 (1 ) Tax free municipal bonds 4,860 (51 ) 913 (32 ) 5,773 (83 ) Mortgage-backed securities 40,441 (289 ) 21,566 (537 ) 62,007 (826 ) Total available for sale $ 87,323 (772 ) 32,325 (791 ) 119,648 (1,563 ) Management evaluates securities for other-than-temporary impairment at least on a quarterly basis, and more frequently when economic or market concerns warrant such evaluations. Consideration is given to (1) the length of time and the extent to which the fair value has been less than cost, (2) the financial condition and near-term prospects of the issuer, and (3) the intent and ability of the Company to retain its investment in the issuer for a period of time sufficient to allow for any anticipated recovery in fair value. At March 31, 2018, the Company has 98 securities with unrealized losses. The losses for all securities are considered to be a direct result of the effect that the prevailing interest rate environment had on the value of debt securities and are not related to the credit worthiness of the issuers. Furthermore, the Company has the intent and ability to retain its investments in the issuers for a period of time that management believes to be sufficient to allow for any anticipated recovery in fair value. Therefore, the Company did not recognize any other-than-temporary impairments as of March 31, 2018. At March 31, 2018 and December 31, 2017, securities with a book value of approximately $113.3 million and $119.8 million and a market value of approximately $113.8 million and $118.0 million, respectively, were pledged to various municipalities for deposits in excess of FDIC limits as required by law. At March 31, 2018 and December 31, 2017, securities with a market value of $41.8 million and $38.4 million, respectively, were sold to customers as part of overnight repurchase agreements. |
Loans
Loans | 3 Months Ended |
Mar. 31, 2018 | |
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 March 31, 2018 and December 31, 2017. March 31, 2018 December 31, 2017 (Dollars in Thousands) Real estate loans: One-to-four $ 167,947 $ 163,565 Home equity lines of credit 34,261 35,697 Junior liens 1,181 1,184 Multi-family 37,977 37,445 Construction 40,484 30,246 Land 9,096 14,873 Non-residential 234,900 224,952 Farmland 34,830 36,851 Total mortgage loans 560,676 544,813 Consumer loans 8,514 8,620 Commercial loans 96,527 88,938 Total other loans 105,041 97,558 Total loans 665,717 642,371 Deferred loan fees, net of cost (539 ) (443 ) Less allowance for loan losses (4,654 ) (4,826 ) Total loans, net $ 660,524 $ 637,102 Although the Company has a diversified loan portfolio, 84.2% and 84.8% of the portfolio was concentrated in loans secured by real estate at March 31, 2018 and December 31, 2017, respectively. At March 31, 2018 and December 31, 2017, the majority of these loans are located within the Company’s general operating area. Risk Grade Classifications 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 The following table provides a detail of the Company’s activity in the allowance for loan loss account by loan type for the three month period ended March 31, 2018: Balance Charge off Recovery Provision Ending One-to-four family mortgages 747 (6 ) 3 68 812 Home equity line of credit 189 — 2 (2 ) 189 Junior liens 5 — — 1 6 Multi-family 314 — — 1 315 Construction 161 — — 95 256 Land 1,223 — — (520 ) 703 Non-residential real estate 789 — 4 66 859 Farmland 367 — 1 29 397 Consumer loans 184 (69 ) 23 94 232 Commercial loans 847 (200 ) 2 236 885 4,826 (275 ) 35 68 4,654 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, 2017: Balance Charge offs Recoveries Provision Ending (Dollars in Thousands) One-to-four family mortgages $ 852 (66 ) 13 (52 ) 747 Home equity line of credit 260 — 12 (83 ) 189 Junior liens 8 — 4 (7 ) 5 Multi-family 412 — 417 (515 ) 314 Construction 277 — — (116 ) 161 Land 1,760 (2,608 ) 559 1,512 1,223 Farmland 778 — 10 (421 ) 367 Non-residential 964 — 16 (191 ) 789 Consumer loans 208 (261 ) 87 150 184 Commercial loans 593 (224 ) 278 200 847 Total $ 6,112 (3,159 ) 1,396 477 4,826 The table below presents past due and non-accrual non-performing: Currently 30 - 89 Past due Non-accrual Special Substandard Total (Dollars in Thousands) One-to-four family mortgages 166,672 162 521 104 488 167,947 Home equity line of credit 33,706 — — 530 — 25 34,261 Junior liens 1,177 — — 4 — — 1,181 Multi-family 37,977 — — — — — 37,977 Construction 39,939 — — — — 545 40,484 Land 8,659 — — 40 397 — 9,096 Non-residential real estate 226,036 206 — — 1,370 7,288 234,900 Farmland 33,438 — — 111 1,281 — 34,830 Consumer loans 8,038 39 — 2 0 435 8,514 Commercial loans 91,025 25 — 796 1,339 3,342 96,527 Total 646,667 432 — 2,004 4,491 12,123 665,717 The table below presents past due and non-accrual non-performing: Currently 30 - 89 Past due Non-accrual Special Substandard Total (Dollars in Thousands) One-to-four family $ 162,724 181 88 266 — 306 163,565 Home equity line of credit 35,285 — — 402 — 10 35,697 Junior liens 1,180 — — 4 — — 1,184 Multi-family 37,445 — — — — — 37,445 Construction 30,246 — — — — — 30,246 Land 14,322 — — 40 — 511 14,873 Non-residential 216,692 209 — — 979 7,072 224,952 Farmland 35,253 — — 111 1,147 340 36,851 Consumer loans 8,373 3 — 3 — 241 8,620 Commercial loans 83,892 — — 459 3,572 1,015 88,938 Total $ 625,412 393 88 1,285 5,698 9,495 642,371 At March 31, 2018, there were no loans more than 90 days past due and accruing interest. At December 31, 2017, there were $88,000 in 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 March 31, 2018 and December 31, 2017 by portfolio segment and based on the impairment method. Commercial Land Commercial Residential Consumer Total (Dollars in Thousands) March 31, 2018: Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ 86 — 1 — 109 196 Collectively evaluated for impairment 799 959 1,570 1,007 123 4,458 Total ending allowance balance $ 885 959 1,571 1,007 232 4,654 Loans: Loans individually evaluated for impairment $ 3,823 505 5,439 252 434 10,453 Loans collectively evaluated for impairment 92,704 49,075 302,268 203,137 8,080 655,264 Total ending loans balance $ 96,527 49,580 307,707 203,389 8,514 665,717 Commercial Land Commercial Residential Consumer Total (Dollars in Thousands) December 31, 2017: Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ 233 — 2 — 54 289 Collectively evaluated for impairment 614 1,384 1,468 941 130 4,537 Total ending allowance balance $ 847 1,384 1,470 941 184 4,826 Loans: Loans individually evaluated for impairment $ 1,416 515 7,532 257 217 9,937 Loans collectively evaluated for impairment 87,522 44,604 291,716 200,189 8,403 632,434 Total ending loans balance $ 88,938 45,119 299,248 200,446 8,620 642,371 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. 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. Loans by classification type and credit risk indicator at March 31, 2018 and December 31, 2017 were as follows: March 31, 2018 Pass Special Substandard Doubtful Total (Dollars in Thousands) One-to-four $ 166,937 — 1,010 — 167,947 Home equity line of credit 33,706 — 555 — 34,261 Junior liens 1,181 — — — 1,181 Multi-family 37,977 — — — 37,977 Construction 40,484 — — — 40,484 Land 8,154 397 545 — 9,096 Non-residential 226,242 1,370 7,288 — 234,900 Farmland 33,438 1,281 111 — 34,830 Consumer loans 8,076 — 438 — 8,514 Commercial loans 90,949 1,443 4,135 — 96,527 Total $ 647,144 4,491 14,082 — 665,717 December 31, 2017 Pass Special Substandard Doubtful Total (Dollars in Thousands) One-to-four $ 162,993 — 572 — 163,565 Home equity line of credit 35,285 — 412 — 35,697 Junior liens 1,184 — — — 1,184 Multi-family 37,445 — — — 37,445 Construction 30,246 — — — 30,246 Land 14,318 — 555 — 14,873 Non-residential 216,901 979 7,072 — 224,952 Farmland 35,253 1,147 451 — 36,851 Consumer loans 8,376 — 244 — 8,620 Commercial loans 83,892 3,572 1,474 — 88,938 Total $ 625,893 5,698 10,780 — 642,371 Impaired loans by classification type and the related valuation allowance amounts at March 31, 2018 were as follows: At March 31, 2018 For the three month period Recorded Unpaid Related Average Interest (Dollars in Thousands) Impaired loans with no specific allowance One-to-four $ 1,010 1,010 — 634 13 Home equity line of credit 555 555 — 278 6 Junior liens — — — — — Multi-family — — — — — Construction — — — — — Land 545 545 — 530 9 Non-residential 7,287 7,287 — 7,187 77 Farmland 111 111 — 278 — Consumer loans 4 4 — 2 — Commercial loans 3,996 4,196 — 2,436 61 Total 13,508 13,708 — 11,345 166 Impaired loans with a specific allowance One-to-four family mortgages — — — — — Home equity line of credit — — — — — Junior liens — — — — — Multi-family — — — — — Construction — — — — — Land — — — — — Non-residential 1 1 1 2 — Farmland — — — — — Consumer loans 434 434 109 326 — Commercial loans 139 139 86 340 — Total 574 574 196 668 — Total $ 14,082 14,282 196 12,013 166 Impaired loans by classification type and the related valuation allowance amounts at December 31, 2017 were as follows: At December 31, 2017 For the year ended Recorded Unpaid Related Average Interest (Dollars in Thousands) Impaired loans with no specific allowance One-to-four $ 257 257 — 1,235 35 Home equity line of credit — — — 447 26 Junior liens — — — 6 — Multi-family — — — 1,135 — Construction — — — — — Land 515 515 — 837 44 Non-residential 7,086 7,086 — 8,979 395 Farmland 444 444 — 1,094 35 Consumer loans — — — 8 2 Commercial loans 875 875 — 1,571 46 Total 9,177 9,177 — 15,312 583 Impaired loans with a specific allowance One-to-four — — — — — Home equity line of credit — — — — — Junior liens — — — — — Multi-family — — — — — Construction — — — — — Land — — — 4,006 — Non-residential 2 2 2 88 2 Farmland — — — 195 — Consumer loans 217 217 54 248 — Commercial loans 541 541 233 479 13 Total 760 760 289 5,016 15 Total impaired loans $ 9,937 9,937 289 20,328 598 At March 31, 2018 and December 31, 2017, non-accrual non-accrual non-accrual non-accrual March 31, 2018 December 31, 2017 (Dollars in Thousands) One-to-four family mortgages 521 266 Home equity line of credit 530 402 Junior Lien 4 4 Land 40 40 Farmland 111 111 Non-residential — — Consumer loans 2 3 Commercial loans 796 459 Total non-accrual 2,004 1,285 The following table provides the number of loans remaining in each category as of March 31, 2018 and December 31, 2017 that the Company had previously modified in a TDR: Number of Pre-Modification Post Modification March 31, 2018 Non-residential real estate 2 $ 3,163,435 3,163,435 Commercial 1 91,683 91,683 December 31, 2017 Non-residential 2 3,163,435 3,163,435 For the three month period ended March 31, 2018, the Company identified one additional commercial loan as a TDR. The loan is secured by equipment and inventory. The TDR classification is the result of the borrower’s declining financial condition, prompting the Company to lengthen the amortization period of the loan to twelve years. The length of the current amortization period is outside of our loan policy and results in a TDR classification. The loan has a one year balloon feature and the borrower’s financial condition will be re-evaluated |
Foreclosed Assets
Foreclosed Assets | 3 Months Ended |
Mar. 31, 2018 | |
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 For the three month period ended March 31, 2018, the Company’s activity in foreclosed property included the following: Balance Activity During 2018 Reduction Gain (Loss) Balance 12/31/2017 Foreclosure Sales in Values on Sale 3/31/2018 (Dollars in Thousands) One-to-four family mortgages $ 169 25 (78 ) — 13 $ 129 Land 3,200 — — — — 3,200 Total $ 3,369 25 (78 ) — 13 $ 3,329 The Company’s activity in foreclosed assets for the twelve month period ended December 31, 2017 is as follows: Balance Activity During 2017 Reduction Gain (Loss) Balance Foreclosure Sales (Dollars in Thousands) One-to-four family mortgages $ 135 1,069 (1,182 ) — 147 $ 169 HELOC 28 — (18 ) (10 ) — — Land — 3,200 — — — 3,200 Multi-family 1,775 — (1,761 ) — (14 ) — Non-residential 459 43 (500 ) — (2 ) — Total $ 2,397 4,312 (3,461 ) (10 ) 131 $ 3,369 |
Fair Value of Assets and Liabil
Fair Value of Assets and Liabilities | 3 Months Ended |
Mar. 31, 2018 | |
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 March 31, 2018 are summarized below: Description Total carrying Quoted Prices Significant Significant (Dollars in Thousands) Securities available for sale U.S. Agency securities $ 80,146 — 80,146 — Taxable municipals 26,668 — 26,668 — Tax-free 1,273 — 1,273 — Trust preferred securities 1,980 — — 1,980 Mortgage backed securities 70,145 — 70,145 — Total $ 180,212 — 178,232 1,980 The assets and liabilities measured at fair value on a recurring basis at December 31, 2017 are summarized below: Description Total carrying Quoted Prices Significant Significant (Dollars in Thousands) Securities available for sale U.S. Agency securities 84,093 — 84,093 — Taxable municipals 1,283 — 1,283 — Tax-free 26,966 — 26,966 — Trust preferred securities 1,685 — — 1,685 Mortgage backed securities 70,764 — 70,764 — Total $ 184,791 — 183,106 1,685 The assets and liabilities measured at fair value on a non-recurring Description Total carrying Quoted Prices Significant Significant (Dollars in Thousands) Assets Foreclosed assets $ 3,329 — — $ 3,329 Impaired loans, net of allowance of $196 $ 378 — — $ 378 The assets and liabilities measured at fair value on a non-recurring Description Total carrying Quoted Prices Significant Significant (Dollars in Thousands) Assets Foreclosed assets $ 3,369 — — $ 3,369 Impaired loans, net of allowance of $289 $ 473 — — $ 473 The following table presents quantitative information about level 3 fair value measurements for assets measured at fair value on a recurring and non-recurring Level 3 Significant Unobservable Input Assumptions Fair Valuation Technique Unobservable Input Quantitative Range (Dollars in Thousands) March 31, 2018 Assets measured on a non-recurring Foreclosed assets $ 3,329 Discount to appraised value of collateral. Auction results Appraisal comparability adjustments 5% to 10% Impaired loans 574 Discount to appraised value of collateral Appraisal comparability adjustments 10% to 25% Asset measured on a recurring basis Trust preferred securities 1,980 Discounted cash flow Spread to Libor swap curve Compare to quotes for sale when available One month libor December 31, 2017 Assets measured on a non-recurring Foreclosed assets $ 3,369 Discount to appraised value of collateral Appraisal comparability adjustments 30% to 55% Impaired loans 760 Discount to appraised value of collateral Appraisal comparability adjustments 10% to 15% Asset measured on a recurring basis Trust preferred securities 1,685 Discounted cash flow Spread to Libor swap curve Compare to quotes for sale when available One month libor The estimated fair values of financial instruments were as follows at March 31, 2018: Carrying Estimated In Active Markets Other Significant (Dollars in Thousands) Financial Assets: Cash and due from banks $ 18,472 180,472 180,472 — — Interest-bearing deposits 3,149 3,149 3,149 — — Securities available for sale 180,212 180,212 — 178,232 1,980 Federal Home Loan Bank stock 4,428 4,428 — — 4,428 Loans held for sale 2,706 2,706 — 2,706 — Loans receivable 665,178 633,671 — — 633,671 Accrued interest receivable 3,212 3,212 — — 3,212 Financial liabilities: Deposits 746,806 745,508 — 745,508 — Advances from borrowers for taxes and insurance 780 780 — 781 — Advances from Federal Home Loan Bank 25,000 24,795 — 24,795 — Repurchase agreements 41,792 41,792 — 41,792 — Subordinated debentures 10,310 10,099 — — 10,099 The estimated fair values of financial instruments were as follows at December 31, 2017: Carrying Estimated Fair Quoted Prices In Active Markets for Identical Assets Using Significant Other Observable Inputs Significant Unobservable Inputs Amount Value Level 1 Level 2 Level 3 (Dollars in Thousands) Financial Assets: Cash and due from banks $ 37,965 37,965 37,965 — — Interest-bearing deposits 7,111 7,111 7,111 — — Securities available for sale 184,791 184,791 — 183,106 1,685 Federal Home Loan Bank stock 4,428 4,428 — — 4,428 Loans held for sale 1,539 1,539 — 1,539 — Loans receivable 637,102 615,265 — — — Accrued interest receivable 3,589 3,589 — — 3,589 Financial liabilities: Deposits 754,009 754,510 — 754,510 — Advances from borrowers for taxes and insurance 808 808 — 808 — Advances from Federal Home Loan Bank 23,000 22,849 — 22,849 — Repurchase agreements 38,353 38,353 — 38,353 — Subordinated debentures 10,310 10,099 — — 10,099 |
Effect of New Accounting Pronou
Effect of New Accounting Pronouncements | 3 Months Ended |
Mar. 31, 2018 | |
Accounting Changes and Error Corrections [Abstract] | |
Effect of New Accounting Pronouncements | (7) EFFECT OF NEW ACCOUNTING PRONOUNCEMENTS In May 2014, the FASB issued Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers Revenue Recognition ASU 2016-01, 825-10): 2016-01, available-for-sale. 2016-01 ASU 2016-02 Leases (Topic 842) 2016-02 right-of-use 2016-02 2016-02 2016-02 ASU 2016-09, 2016-09 paid-in paid-in paid-in 2016-09 2016-09 2016-09 2016-09 On June 16, 2016, the FASB released its finalized ASU 2016-13, “Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments” available-for-sale. 2016-13 2016-13 2016-13. ASU 2016-15 “Statement of Cash Flows (Topic 230)” 2016-15”) 2016-15 2016-15 In January 2017, the FASB issued ASU 2017-01, 2017-01”) 2017-01 ASU 2017-08, “Receivables – Nonrefundable Fees and Other Cost” (Topic 310) 2017-08 non-contingent 2017-08 ASU 2017-09 “Compensation – Stock Compensation (Topic 718) – 2017-09, • The fair value of the modified award is the same as the fair value of the original award immediately before modification, • The vesting conditions of the modified award is the same as the vesting conditions value of the original award immediately before modification, and • The classification of the modified award as an equity instrument or a liability instrument is the same as the classification of the original award immediately before modification. ASU 2017-09 ASU 2017-12 “Derivatives and Hedging (Topic 815) 2017-12 ASU 2018-02, “Income Statement-Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income.” Issued in February 2018, ASU 2018-02 seeks to help entities reclassify certain stranded income tax effects in accumulated other comprehensive income resulting from the Tax Cuts and Jobs Act of 2017 (Tax Reform Act), enacted on December 22, 2017. ASU 2018-02 was issued in response to concerns regarding current guidance in GAAP that requires deferred tax liabilities and assets to be adjusted for the effect of a change in tax laws or rates with the effect included in income from continuing operations in the reporting period that includes the enactment date, even in situations in which the related income tax effects of items in accumulated other comprehensive income were originally recognized in other comprehensive income, rather than net income, and as a result the stranded tax effects would not reflect the appropriate tax rate. The amendments of ASU 2018-02 allow an entity to make a reclassification from accumulated other comprehensive income to retained earnings for the stranded tax effects, which is the difference between the historical corporate income tax rate of 34.0% and the newly enacted corporate income tax rate of 21.0%. ASU 2018-02 is effective for fiscal years, and interim periods within those years, beginning after December 31, 2018; however, public business entities are allowed to early adopt the amendments of ASU 2018-02 in any interim period for which the financial statements have not yet been issued. The amendments of ASU 2018-02 may be applied either at the beginning of the period (annual or interim) of adoption or retrospectively to each of the period(s) in which the effect of the change in the U.S. federal corporate tax rate in the Tax Reform Act is recognized. The Company is currently reviewing the impact of the adoption of ASU 2018-02 on its Consolidated Financial Statements. |
INCOME TAXES
INCOME TAXES | 3 Months Ended |
Mar. 31, 2018 | |
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 Company’s effective tax rate changed from 34% to 21% effective January 1, 2018 as a result of the Tax Cut and Jobs Act of 2017. The effective tax rate differs from the statutory federal rate of 21% and Tennessee excise rate of 6.5% due to investments in qualified municipal securities, bank owned life insurance, income apportioned to Kentucky and certain non-deductible • The Company’s investment in Fort Webb LP, LLC generates tax credits and depreciation expense that the Company can use to offset taxable income. At March 31, 2018, the Company’s balance sheet did not include any equity investment in Fort Webb. The Company has other investments that produce both tax credits and depreciation expense that may be used to offset net income. • At March 31, 2018, the Company has $10.4 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. At March 31, 2018, the Company’s investment portfolio includes $26.7 million of tax free municipal securities. Interest income on this portfolio, after netting out a disallowance for interest expense attributable to this portfolio, is tax exempt. |
Esop
Esop | 3 Months Ended |
Mar. 31, 2018 | |
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 third ESOP loan payment in December 2017. At March 31, 2018 and December 31, 2017, shares held by the ESOP were as follows: March 31, 2018 December 31, 2017 Accrued for allocation to participants 10,873 — Earned ESOP shares 165,686 165,686 Unearned ESOP shares 423,675 434,548 Total ESOP shares 600,234 600,234 Fair value of unearned shares $ 6,164,471 $ 6,127,127 |
Commitments and Contingencies
Commitments and Contingencies | 3 Months Ended |
Mar. 31, 2018 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | (10) COMMITMENTS AND CONTINGENCIES At March 31, 2018, the Bank had $33.1 million in outstanding commitments on revolving home equity lines of credit, $20.5 million in outstanding commitments on revolving personal lines of credit and $48.4 million in commitments to originate loans and undisbursed commitments on commercial lines of credit of $62.9 million. At March 31, 2018, the Company had $293,000 in standby letters of credit outstanding. At March 31, 2018, the Company has $40.9 million in times deposits greater than $100,000 but less than $250,000 that are schedule to mature in one year and $61.9 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 Bank has outstanding borrowings of $25.0 million and $23.0 million, respectively, from the FHLB. A schedule of FHLB borrowings at March 31, 2018 is provided below: Outstanding Balance Rate Maturity 2,000,000 1.82 % Overnight 6,000,000 1.18 % 7/6/2018 7,000,000 1.55 % 1/10/2019 5,000,000 1.73 % 1/10/2020 5,000,000 1.92 % 10/6/2020 $25,000,000 1.59 % A schedule of FHLB borrowings at December 31, 2017 is provided below: Outstanding Balance Rate Maturity 6,000,000 1.18 % 7/6/2018 7,000,000 1.55 % 1/10/2019 5,000,000 1.73 % 1/10/2020 5,000,000 1.92 % 10/6/2020 $23,000,000 1.57 % 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 March 31, 2018, 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 | 3 Months Ended |
Mar. 31, 2018 | |
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 2018, the capital conservation buffer is 1.875%. 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 The Company’s consolidated capital ratios and the Bank’s actual capital amounts and ratios as of March 31, 2018 and December 31, 2017 are presented below: Actual Minimum Capital To be Well Amount Ratio Amount Ratio Amount Ratio (Dollars in Thousands, Except Percentages) As of March 31, 2018 Tier 1 leverage capital to adjusted total assets Company $ 96,343 10.6 % $ 36,294 4.0 % $ 45,368 5.0 % Bank $ 93,775 10.3 % $ 36,297 4.0 % $ 45,371 5.0 % Total capital to risk weighted assets Company $ 100,997 15.5 % $ 52,058 8.0 % $ 65,072 10.0 % Bank $ 98,429 15.2 % $ 51,946 8.0 % $ 64,933 10.0 % Tier 1 capital to risk weighted assets Company $ 96,343 14.8 % $ 39,043 6.0 % $ 52,058 8.0 % Bank $ 93,775 14.4 % $ 38,960 6.0 % $ 51,946 8.0 % Common equity tier 1 capital to risk weighted assets Company $ 96,343 14.8 % $ 29,283 4.5 % n/a n/a Bank $ 93,775 14.4 % $ 29,220 4.5 % $ 42,207 6.5 % As of December 31, 2017 Tier 1 leverage capital to adjusted total assets Company $ 95,709 10.6 % $ 36,137 4.0 % $ 45,171 5.0 % Bank $ 95,123 10.5 % $ 36,090 4.0 % $ 45,112 5.0 % Total capital to risk weighted assets Company $ 100,535 16.0 % $ 50,352 8.0 % $ 62,940 10.0 % Bank $ 99,949 15.9 % $ 50,314 8.0 % $ 62,892 10.0 % Tier 1 capital to risk weighted assets Company $ 95,709 15.2 % $ 37,764 6.0 % $ 50,352 8.0 % Bank $ 95,123 15.1 % $ 37,735 6.0 % $ 50,314 8.0 % Common equity tier 1 capital to risk weighted assets Company $ 95,709 15.2 % $ 28,323 4.5 % n/a n/a Bank $ 95,123 15.1 % $ 28,301 4.5 % $ 40,880 6.5 % |
Subsequent Events
Subsequent Events | 3 Months Ended |
Mar. 31, 2018 | |
Subsequent Events [Abstract] | |
Subsequent Events | (12) SUBSEQUENT EVENTS On April 10, 2018, HopFed Bancorp, Inc. (the “Company”) entered into a Standstill Agreement (the “Agreement”) with Stilwell Activist Fund, L.P., Stilwell Activist Investments, L.P., Stilwell Associates, L.P., Stilwell Value LLC and Joseph Stilwell (collectively, the “Stilwell Group”) and Mark D. Alcott. The Stilwell Group owns approximately 9.5% of the shares of the Company’s outstanding common stock. The Agreement provides that, effective upon a meeting of the Board of Directors to be held no later than April 30, 2018, the Board will be expanded by one Board seat, and Mr. Alcott will be appointed to serve as a director of the Company in the class of directors with terms expiring at the Company’s 2019 Annual Meeting of Stockholders or until his successor is elected and qualified. Mr. Alcott will be nominated at the 2019 Annual Meeting of Stockholders to serve until the 2022 Annual Meeting of Stockholders, or until his successor is elected and qualified. Mr. Alcott also will be nominated and elected to concurrent terms on the Board of Directors of the Bank and Company. The Company appointed Mr. Alcott to its Board of Directors on April 18, 2018. During the term of the Agreement, which is scheduled to continue through the date of that is 15 business days prior to the deadline for submission of stockholder nominations and proposals for the Company’s 2022 Annual Meeting of Stockholders (which may be extended by written agreement of the parties), the Stilwell Group and Mr. Alcott will not, among other things, solicit proxies in opposition to any recommendation or proposal of the Company’s Board of Directors, initiate or solicit stockholder proposals or seek to place any additional representatives on the Company’s Board of Directors other than Mr. Alcott (or any replacement director selected by the Stilwell Group in the event Mr. Alcott’s position as a director of the Company or the Bank is terminated during the term of the Stilwell Agreement due to his resignation, death, permanent disability or otherwise), oppose any proposal or director nomination submitted by the Board of Directors to the Company’s stockholders, vote for any nominee to, or proposal by, the Company’s Board of Directors other than those nominated, proposed or supported by the Board of Directors, seek removal of any Company or Bank director, seek to exercise any control or influence over the management of the Company or the Boards of Directors of the Company or the Bank, propose or seek to effect a merger or sale of the Company or initiate litigation against the Company (except in connection with enforcement of the Agreement). The Stilwell Group also agreed not to acquire any additional shares of the outstanding Company common stock or, without the Company’s prior written consent, sell or otherwise dispose of any interest in the Stilwell Group’s shares of Company Common Stock to any person the Stilwell Group believes, after reasonable inquiry, would be a beneficial owner after any such sale or transfer of more than 5% of the outstanding shares of the Company Common Stock. The parties have also entered into a Non-Disclosure non-public Non-Disclosure |
Fair Value of Assets and Liab22
Fair Value of Assets and Liabilities (Policies) | 3 Months Ended |
Mar. 31, 2018 | |
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 Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers Revenue Recognition |
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 |
Compensation - Stock Compensation | ASU 2016-09, 2016-09 paid-in paid-in paid-in 2016-09 2016-09 2016-09 2016-09 On June 16, 2016, the FASB released its finalized ASU 2016-13, “Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments” available-for-sale. 2016-13 2016-13 2016-13. |
Receivables - Nonrefundable Fees and Other Cost | ASU 2017-08, “Receivables – Nonrefundable Fees and Other Cost” (Topic 310) 2017-08 non-contingent 2017-08 |
Compensation - Stock Compensation | ASU 2017-09 “Compensation – Stock Compensation (Topic 718) – 2017-09, • The fair value of the modified award is the same as the fair value of the original award immediately before modification, • The vesting conditions of the modified award is the same as the vesting conditions value of the original award immediately before modification, and • The classification of the modified award as an equity instrument or a liability instrument is the same as the classification of the original award immediately before modification. ASU 2017-09 |
Derivatives and Hedging | ASU 2017-12 “Derivatives and Hedging (Topic 815) 2017-12 |
Income Statement-Reporting Comprehensive Income | ASU 2018-02, “Income Statement-Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income.” Issued in February 2018, ASU 2018-02 seeks to help entities reclassify certain stranded income tax effects in accumulated other comprehensive income resulting from the Tax Cuts and Jobs Act of 2017 (Tax Reform Act), enacted on December 22, 2017. ASU 2018-02 was issued in response to concerns regarding current guidance in GAAP that requires deferred tax liabilities and assets to be adjusted for the effect of a change in tax laws or rates with the effect included in income from continuing operations in the reporting period that includes the enactment date, even in situations in which the related income tax effects of items in accumulated other comprehensive income were originally recognized in other comprehensive income, rather than net income, and as a result the stranded tax effects would not reflect the appropriate tax rate. The amendments of ASU 2018-02 allow an entity to make a reclassification from accumulated other comprehensive income to retained earnings for the stranded tax effects, which is the difference between the historical corporate income tax rate of 34.0% and the newly enacted corporate income tax rate of 21.0%. ASU 2018-02 is effective for fiscal years, and interim periods within those years, beginning after December 31, 2018; however, public business entities are allowed to early adopt the amendments of ASU 2018-02 in any interim period for which the financial statements have not yet been issued. The amendments of ASU 2018-02 may be applied either at the beginning of the period (annual or interim) of adoption or retrospectively to each of the period(s) in which the effect of the change in the U.S. federal corporate tax rate in the Tax Reform Act is recognized. The Company is currently reviewing the impact of the adoption of ASU 2018-02 on its Consolidated Financial Statements. |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Earnings Per Share [Abstract] | |
Reconciliation of Basic and Diluted Income (Loss) Per Share | For the three month Periods 2018 2017 Basic EPS: Net income $ 1,126,000 $ 935,000 Average common shares outstanding 6,188,413 6,218,706 Earnings per share $ 0.18 $ 0.15 Diluted EPS Net income $ 1,126,000 $ 935,000 Average common shares outstanding 6,188,413 6,218,706 Dilutive effect of stock options — — Average diluted shares outstanding 6,188,413 6,218,706 Earnings per share, diluted $ 0.18 $ 0.15 |
Securities (Tables)
Securities (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Cash and Cash Equivalents [Abstract] | |
Amortized Cost of Securities and their Estimated Fair Values | The carrying amount of securities and their estimated fair values at March 31, 2018 and December 31, 2017 were as follows: March 31, 2018 Amortized Gross Gross Estimated (Dollars in Thousands) Restricted: FHLB stock $ 4,428 — — 4,428 Available for sale: U.S. Agency securities $ 81,263 241 (1,358 ) 80,146 Taxable municipal bonds 1,277 1 (5 ) 1,273 Tax free municipal bonds 26,412 441 (185 ) 26,668 Trust preferred securities 1,655 325 — 1,980 Mortgage backed securities 71,772 113 (1,740 ) 70,145 $ 182,379 1,121 (3,288 ) 180,212 December 31, 2017 Amortized Gross Gross Estimated (Dollars in Thousands) Restricted: FHLB stock $ 4,428 — — 4,428 Available for sale: U.S. Agency securities 84,210 536 (653 ) 84,093 Taxable municipal bonds 1,279 5 (1 ) 1,283 Tax free municipal bonds 26,412 637 (83 ) 26,966 Trust preferred securities 1,650 35 — 1,685 Mortgage-backed securities 71,389 201 (826 ) 70,764 $ 184,940 1,414 (1,563 ) 184,791 |
Maturities of Debt Securities Available for Sale | The scheduled maturities of debt securities available for sale at March 31, 2018 were as follows: Amortized Estimated (Dollars in Thousands) Due within one year $ 3,103 $ 3,123 Due in one to five years 29,802 29,394 Due in five to ten years 16,013 15,885 Due after ten years 7,226 7,643 56,144 56,045 Amortizing agency bonds 54,463 54,022 Mortgage-backed securities 71,772 70,145 Total securities available for sale $ 182,379 $ 180,212 |
Estimated Fair Value and Unrealized Loss Amounts of Impaired Investments | The estimated fair value and unrealized loss amounts of temporarily impaired investments as of March 31, 2018 were as follows: Less than 12 months 12 months or longer Total Estimated Unrealized Estimated Unrealized Estimated Unrealized (Dollars in Thousands) Available for sale U.S. Agency securities $ 50,671 (1,046 ) 10,343 (312 ) 61,014 (1,358 ) Taxable municipal bonds 515 (5 ) — — 515 (5 ) Tax free municipal bonds 6,810 (140 ) 900 (45 ) 7,710 (185 ) Mortgage-backed securities 43,853 (976 ) 20,975 (764 ) 64,828 (1,740 ) Total available for sale $ 101,849 (2,167 ) 32,218 (1,121 ) 134,067 (3,288 ) The estimated fair value and unrealized loss amounts of temporarily impaired investments as of December 31, 2017 were as follows: Less than 12 months 12 months or longer Total Estimated Unrealized Estimated Unrealized Estimated Unrealized Fair Value Losses Fair Value Losses Fair Value Losses (Dollars in Thousands) Available for sale U.S. Agency securities $ 41,501 (431 ) 9,846 (222 ) 51,347 (653 ) Taxable municipal bonds 521 (1 ) — — 521 (1 ) Tax free municipal bonds 4,860 (51 ) 913 (32 ) 5,773 (83 ) Mortgage-backed securities 40,441 (289 ) 21,566 (537 ) 62,007 (826 ) Total available for sale $ 87,323 (772 ) 32,325 (791 ) 119,648 (1,563 ) |
Loans (Tables)
Loans (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
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 March 31, 2018 and December 31, 2017. March 31, 2018 December 31, 2017 (Dollars in Thousands) Real estate loans: One-to-four $ 167,947 $ 163,565 Home equity lines of credit 34,261 35,697 Junior liens 1,181 1,184 Multi-family 37,977 37,445 Construction 40,484 30,246 Land 9,096 14,873 Non-residential 234,900 224,952 Farmland 34,830 36,851 Total mortgage loans 560,676 544,813 Consumer loans 8,514 8,620 Commercial loans 96,527 88,938 Total other loans 105,041 97,558 Total loans 665,717 642,371 Deferred loan fees, net of cost (539 ) (443 ) Less allowance for loan losses (4,654 ) (4,826 ) Total loans, net $ 660,524 $ 637,102 |
Allowance for Loan Loss Account by Loan | The following table provides a detail of the Company’s activity in the allowance for loan loss account by loan type for the three month period ended March 31, 2018: Balance Charge off Recovery Provision Ending One-to-four family mortgages 747 (6 ) 3 68 812 Home equity line of credit 189 — 2 (2 ) 189 Junior liens 5 — — 1 6 Multi-family 314 — — 1 315 Construction 161 — — 95 256 Land 1,223 — — (520 ) 703 Non-residential real estate 789 — 4 66 859 Farmland 367 — 1 29 397 Consumer loans 184 (69 ) 23 94 232 Commercial loans 847 (200 ) 2 236 885 4,826 (275 ) 35 68 4,654 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, 2017: Balance Charge offs Recoveries Provision Ending (Dollars in Thousands) One-to-four family mortgages $ 852 (66 ) 13 (52 ) 747 Home equity line of credit 260 — 12 (83 ) 189 Junior liens 8 — 4 (7 ) 5 Multi-family 412 — 417 (515 ) 314 Construction 277 — — (116 ) 161 Land 1,760 (2,608 ) 559 1,512 1,223 Farmland 778 — 10 (421 ) 367 Non-residential 964 — 16 (191 ) 789 Consumer loans 208 (261 ) 87 150 184 Commercial loans 593 (224 ) 278 200 847 Total $ 6,112 (3,159 ) 1,396 477 4,826 |
Gross Loan Balances Excluding Deferred Loan Fees by Loan Classification Allocated Between Past Due Performing and Non-accrual | The table below presents past due and non-accrual non-performing: Currently 30 - 89 Past due Non-accrual Special Substandard Total (Dollars in Thousands) One-to-four family mortgages 166,672 162 521 104 488 167,947 Home equity line of credit 33,706 — — 530 — 25 34,261 Junior liens 1,177 — — 4 — — 1,181 Multi-family 37,977 — — 0 — — 37,977 Construction 39,939 — — — — 545 40,484 Land 8,659 — — 40 397 — 9,096 Non-residential real estate 226,036 206 — 0 1,370 7,288 234,900 Farmland 33,438 — — 111 1,281 — 34,830 Consumer loans 8,038 39 — 2 0 435 8,514 Commercial loans 91,025 25 — 796 1,339 3,342 96,527 Total 646,667 432 — 2,004 4,491 12,123 665,717 The table below presents past due and non-accrual non-performing: Currently 30 - 89 Past due Non-accrual Special Substandard Total (Dollars in Thousands) One-to-four family $ 162,724 181 88 266 — 306 163,565 Home equity line of credit 35,285 — — 402 — 10 35,697 Junior liens 1,180 — — 4 — — 1,184 Multi-family 37,445 — — — — — 37,445 Construction 30,246 — — — — — 30,246 Land 14,322 — — 40 — 511 14,873 Non-residential 216,692 209 — — 979 7,072 224,952 Farmland 35,253 — — 111 1,147 340 36,851 Consumer loans 8,373 3 — 3 — 241 8,620 Commercial loans 83,892 — — 459 3,572 1,015 88,938 Total $ 625,412 393 88 1,285 5,698 9,495 642,371 |
Allowance for Loan Losses and Recorded Investment in Loans by Portfolio Segment and Impairment Method | The following table presents the balance in the allowance for loan losses and the recorded investment in loans as of March 31, 2018 and December 31, 2017 by portfolio segment and based on the impairment method. Commercial Land Commercial Residential Consumer Total (Dollars in Thousands) March 31, 2018: Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ 86 — 1 — 109 196 Collectively evaluated for impairment 799 959 1,570 1,007 123 4,458 Total ending allowance balance $ 885 959 1,571 1,007 232 4,654 Loans: Loans individually evaluated for impairment $ 3,823 505 5,439 252 434 10,453 Loans collectively evaluated for impairment 92,704 49,075 302,268 203,137 8,080 655,264 Total ending loans balance $ 96,527 49,580 307,707 203,389 8,514 665,717 Commercial Land Commercial Residential Consumer Total (Dollars in Thousands) December 31, 2017: Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ 233 — 2 — 54 289 Collectively evaluated for impairment 614 1,384 1,468 941 130 4,537 Total ending allowance balance $ 847 1,384 1,470 941 184 4,826 Loans: Loans individually evaluated for impairment $ 1,416 515 7,532 257 217 9,937 Loans collectively evaluated for impairment 87,522 44,604 291,716 200,189 8,403 632,434 Total ending loans balance $ 88,938 45,119 299,248 200,446 8,620 642,371 |
Loans by Classification Type and Credit Risk Indicator | Loans by classification type and credit risk indicator at March 31, 2018 and December 31, 2017 were as follows: March 31, 2018 Pass Special Substandard Doubtful Total (Dollars in Thousands) One-to-four $ 166,937 — 1,010 — 167,947 Home equity line of credit 33,706 — 555 — 34,261 Junior liens 1,181 — — — 1,181 Multi-family 37,977 — — — 37,977 Construction 40,484 — — — 40,484 Land 8,154 397 545 — 9,096 Non-residential 226,242 1,370 7,288 — 234,900 Farmland 33,438 1,281 111 — 34,830 Consumer loans 8,076 — 438 — 8,514 Commercial loans 90,949 1,443 4,135 — 96,527 Total $ 647,144 4,491 14,082 — 665,717 December 31, 2017 Pass Special Substandard Doubtful Total (Dollars in Thousands) One-to-four $ 162,993 — 572 — 163,565 Home equity line of credit 35,285 — 412 — 35,697 Junior liens 1,184 — — — 1,184 Multi-family 37,445 — — — 37,445 Construction 30,246 — — — 30,246 Land 14,318 — 555 — 14,873 Non-residential 216,901 979 7,072 — 224,952 Farmland 35,253 1,147 451 — 36,851 Consumer loans 8,376 — 244 — 8,620 Commercial loans 83,892 3,572 1,474 — 88,938 Total $ 625,893 5,698 10,780 — 642,371 |
Impaired Loans by Classification Type | Impaired loans by classification type and the related valuation allowance amounts at March 31, 2018 were as follows: At March 31, 2018 For the three month period Recorded Unpaid Related Average Interest (Dollars in Thousands) Impaired loans with no specific allowance One-to-four $ 1,010 1,010 — 634 13 Home equity line of credit 555 555 — 278 6 Junior liens — — — — — Multi-family — — — — — Construction — — — — — Land 545 545 — 530 9 Non-residential 7,287 7,287 — 7,187 77 Farmland 111 111 — 278 — Consumer loans 4 4 — 2 — Commercial loans 3,996 4,196 — 2,436 61 Total 13,508 13,708 — 11,345 166 Impaired loans with a specific allowance One-to-four family mortgages — — — — — Home equity line of credit — — — — — Junior liens — — — — — Multi-family — — — — — Construction — — — — — Land — — — — — Non-residential 1 1 1 2 — Farmland — — — — — Consumer loans 434 434 109 326 — Commercial loans 139 139 86 340 — Total 574 574 196 668 — Total $ 14,082 14,282 196 12,013 166 Impaired loans by classification type and the related valuation allowance amounts at December 31, 2017 were as follows: At December 31, 2017 For the year ended Recorded Unpaid Related Average Interest (Dollars in Thousands) Impaired loans with no specific allowance One-to-four $ 257 257 — 1,235 35 Home equity line of credit — — — 447 26 Junior liens — — — 6 — Multi-family — — — 1,135 — Construction — — — — — Land 515 515 — 837 44 Non-residential 7,086 7,086 — 8,979 395 Farmland 444 444 — 1,094 35 Consumer loans — — — 8 2 Commercial loans 875 875 — 1,571 46 Total 9,177 9,177 — 15,312 583 Impaired loans with a specific allowance One-to-four — — — — — Home equity line of credit — — — — — Junior liens — — — — — Multi-family — — — — — Construction — — — — — Land — — — 4,006 — Non-residential 2 2 2 88 2 Farmland — — — 195 — Consumer loans 217 217 54 248 — Commercial loans 541 541 233 479 13 Total 760 760 289 5,016 15 Total impaired loans $ 9,937 9,937 289 20,328 598 |
Summary of Non-accrual Loans by Loan Type | At March 31, 2018 and December 31, 2017, the Company’s balances in non-accrual March 31, 2018 December 31, 2017 (Dollars in Thousands) One-to-four family mortgages 521 266 Home equity line of credit 530 402 Junior Lien 4 4 Land 40 40 Farmland 111 111 Non-residential — — Consumer loans 2 3 Commercial loans 796 459 Total non-accrual 2,004 1,285 |
Summary of the Activity in Loans Classified as TDRs | The following table provides the number of loans remaining in each category as of March 31, 2018 and December 31, 2017 that the Company had previously modified in a TDR: Number of Pre-Modification Post Modification March 31, 2018 Non-residential real estate 2 $ 3,163,435 3,163,435 Commercial 1 91,683 91,683 December 31, 2017 Non-residential 2 3,163,435 3,163,435 |
Foreclosed Assets (Tables)
Foreclosed Assets (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Banking and Thrift [Abstract] | |
Summary of Foreclosed Properties Activity | For the three month period ended March 31, 2018, the Company’s activity in foreclosed property included the following: Balance Activity During 2018 Reduction Gain (Loss) Balance 12/31/2017 Foreclosure Sales in Values on Sale 3/31/2018 (Dollars in Thousands) One-to-four family mortgages $ 169 25 (78 ) — 13 $ 129 Land 3,200 — — — — 3,200 Total $ 3,369 25 (78 ) — 13 $ 3,329 The Company’s activity in foreclosed assets for the twelve month period ended December 31, 2017 is as follows: Balance Activity During 2017 Reduction Gain (Loss) Balance Foreclosure Sales (Dollars in Thousands) One-to-four family mortgages $ 135 1,069 (1,182 ) — 147 $ 169 HELOC 28 — (18 ) (10 ) — — Land — 3,200 — — — 3,200 Multi-family 1,775 — (1,761 ) — (14 ) — Non-residential 459 43 (500 ) — (2 ) — Total $ 2,397 4,312 (3,461 ) (10 ) 131 $ 3,369 |
Fair Value of Assets and Liab27
Fair Value of Assets and Liabilities (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Fair Value Disclosures [Abstract] | |
Assets and Liabilities Measured at Fair Value on a Recurring Basis | The assets and liabilities measured at fair value on a recurring basis at March 31, 2018 are summarized below: Description Total carrying Quoted Prices Significant Significant (Dollars in Thousands) Securities available for sale U.S. Agency securities $ 80,146 — 80,146 — Taxable municipals 26,668 — 26,668 — Tax-free 1,273 — 1,273 — Trust preferred securities 1,980 — — 1,980 Mortgage backed securities 70,145 — 70,145 — Total $ 180,212 — 178,232 1,980 The assets and liabilities measured at fair value on a recurring basis at December 31, 2017 are summarized below: Description Total carrying Quoted Prices Significant Significant (Dollars in Thousands) Securities available for sale U.S. Agency securities 84,093 — 84,093 — Taxable municipals 1,283 — 1,283 — Tax-free 26,966 — 26,966 — Trust preferred securities 1,685 — — 1,685 Mortgage backed securities 70,764 — 70,764 — Total $ 184,791 — 183,106 1,685 |
Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis | The assets and liabilities measured at fair value on a non-recurring Description Total carrying Quoted Prices Significant Significant (Dollars in Thousands) Assets Foreclosed assets $ 3,329 — — $ 3,329 Impaired loans, net of allowance of $196 $ 378 — — $ 378 The assets and liabilities measured at fair value on a non-recurring Description Total carrying Quoted Prices Significant Significant (Dollars in Thousands) Assets Foreclosed assets $ 3,369 — — $ 3,369 Impaired loans, net of allowance of $289 $ 473 — — $ 473 |
Quantitative Information about Level 3 Fair Value Measurements for Assets Measured at Fair Value on Recurring and Non-recurring Basis | The following table presents quantitative information about level 3 fair value measurements for assets measured at fair value on a recurring and non-recurring Level 3 Significant Unobservable Input Assumptions Fair Valuation Technique Unobservable Input Quantitative Range (Dollars in Thousands) March 31, 2018 Assets measured on a non-recurring Foreclosed assets $ 3,329 Discount to appraised value of collateral. Auction results Appraisal comparability adjustments 5% to 10% Impaired loans 574 Discount to appraised value of collateral Appraisal comparability adjustments 10% to 25% Asset measured on a recurring basis Trust preferred securities 1,980 Discounted cash flow Spread to Libor swap curve Compare to quotes for sale when available One month libor December 31, 2017 Assets measured on a non-recurring Foreclosed assets $ 3,369 Discount to appraised value of collateral Appraisal comparability adjustments 30% to 55% Impaired loans 760 Discount to appraised value of collateral Appraisal comparability adjustments 10% to 15% Asset measured on a recurring basis Trust preferred securities 1,685 Discounted cash flow Spread to Libor swap curve Compare to quotes for sale when available One month libor |
Estimated Fair Values of Financial Instruments | The estimated fair values of financial instruments were as follows at March 31, 2018: Carrying Estimated In Active Markets Other Significant (Dollars in Thousands) Financial Assets: Cash and due from banks $ 18,472 180,472 180,472 — — Interest-bearing deposits 3,149 3,149 3,149 — — Securities available for sale 180,212 180,212 — 178,232 1,980 Federal Home Loan Bank stock 4,428 4,428 — — 4,428 Loans held for sale 2,706 2,706 — 2,706 — Loans receivable 665,178 633,671 — — 633,671 Accrued interest receivable 3,212 3,212 — — 3,212 Financial liabilities: Deposits 746,806 745,508 — 745,508 — Advances from borrowers for taxes and insurance 780 780 — 781 — Advances from Federal Home Loan Bank 25,000 24,795 — 24,795 — Repurchase agreements 41,792 41,792 — 41,792 — Subordinated debentures 10,310 10,099 — — 10,099 The estimated fair values of financial instruments were as follows at December 31, 2017: Carrying Estimated Fair Quoted Prices In Active Markets for Identical Assets Using Significant Other Observable Inputs Significant Unobservable Inputs Amount Value Level 1 Level 2 Level 3 (Dollars in Thousands) Financial Assets: Cash and due from banks $ 37,965 37,965 37,965 — — Interest-bearing deposits 7,111 7,111 7,111 — — Securities available for sale 184,791 184,791 — 183,106 1,685 Federal Home Loan Bank stock 4,428 4,428 — — 4,428 Loans held for sale 1,539 1,539 — 1,539 — Loans receivable 637,102 615,265 — — — Accrued interest receivable 3,589 3,589 — — 3,589 Financial liabilities: Deposits 754,009 754,510 — 754,510 — Advances from borrowers for taxes and insurance 808 808 — 808 — Advances from Federal Home Loan Bank 23,000 22,849 — 22,849 — Repurchase agreements 38,353 38,353 — 38,353 — Subordinated debentures 10,310 10,099 — — 10,099 |
Esop (Tables)
Esop (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Text Block [Abstract] | |
Summary of Shares Held by Employee Stock Ownership Plan (ESOP) | At March 31, 2018 and December 31, 2017, shares held by the ESOP were as follows: March 31, 2018 December 31, 2017 Accrued for allocation to participants 10,873 — Earned ESOP shares 165,686 165,686 Unearned ESOP shares 423,675 434,548 Total ESOP shares 600,234 600,234 Fair value of unearned shares $ 6,164,471 $ 6,127,127 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule of FHLB Borrowings | A schedule of FHLB borrowings at March 31, 2018 is provided below: Outstanding Balance Rate Maturity 2,000,000 1.82 % Overnight 6,000,000 1.18 % 7/6/2018 7,000,000 1.55 % 1/10/2019 5,000,000 1.73 % 1/10/2020 5,000,000 1.92 % 10/6/2020 $25,000,000 1.59 % A schedule of FHLB borrowings at December 31, 2017 is provided below: Outstanding Balance Rate Maturity 6,000,000 1.18 % 7/6/2018 7,000,000 1.55 % 1/10/2019 5,000,000 1.73 % 1/10/2020 5,000,000 1.92 % 10/6/2020 $23,000,000 1.57 % |
Regulatory Matters (Tables)
Regulatory Matters (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Banking and Thrift [Abstract] | |
The Company's Consolidated Capital Ratios and the Bank's Actual Capital Amounts and Ratios | The Company’s consolidated capital ratios and the Bank’s actual capital amounts and ratios as of March 31, 2018 and December 31, 2017 are presented below: Actual Minimum Capital To be Well Amount Ratio Amount Ratio Amount Ratio (Dollars in Thousands, Except Percentages) As of March 31, 2018 Tier 1 leverage capital to adjusted total assets Company $ 96,343 10.6 % $ 36,294 4.0 % $ 45,368 5.0 % Bank $ 93,775 10.3 % $ 36,297 4.0 % $ 45,371 5.0 % Total capital to risk weighted assets Company $ 100,997 15.5 % $ 52,058 8.0 % $ 65,072 10.0 % Bank $ 98,429 15.2 % $ 51,946 8.0 % $ 64,933 10.0 % Tier 1 capital to risk weighted assets Company $ 96,343 14.8 % $ 39,043 6.0 % $ 52,058 8.0 % Bank $ 93,775 14.4 % $ 38,960 6.0 % $ 51,946 8.0 % Common equity tier 1 capital to risk weighted assets Company $ 96,343 14.8 % $ 29,283 4.5 % n/a n/a Bank $ 93,775 14.4 % $ 29,220 4.5 % $ 42,207 6.5 % |
Earnings Per Share - Reconcilia
Earnings Per Share - Reconciliation of Basic and Diluted Income (Loss) Per Share (Detail) - USD ($) | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Basic EPS: | ||
Net income | $ 1,126,000 | $ 935,000 |
Average common shares outstanding | 6,188,413 | 6,218,706 |
Earnings per share | $ 0.18 | $ 0.15 |
Diluted EPS | ||
Net income | $ 1,126,000 | $ 935,000 |
Average common shares outstanding | 6,188,413 | 6,218,706 |
Dilutive effect of stock options | 0 | 0 |
Average diluted shares outstanding | 6,188,413 | 6,218,706 |
Earnings per share, diluted | $ 0.18 | $ 0.15 |
Securities - Amortized Cost of
Securities - Amortized Cost of Securities and their Estimated Fair Values (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Schedule of Available-for-sale Securities [Line Items] | ||
FHLB stock | $ 4,428 | $ 4,428 |
FHLB stock | 4,428 | 4,428 |
Amortized Cost | 182,379 | 184,940 |
Gross Unrealized Gains | 1,121 | 1,414 |
Gross Unrealized Losses | (3,288) | (1,563) |
Estimated Fair Value | 180,212 | 184,791 |
Estimated Fair Value, Less than 12 months | 101,849 | 87,323 |
Unrealized Losses, Less than 12 months | (2,167) | (772) |
Estimated Fair Value, 12 months or longer | 32,218 | 32,325 |
Unrealized Losses, 12 months or longer | (1,121) | (791) |
Estimated Fair Value | 134,067 | 119,648 |
Unrealized Losses | (3,288) | (1,563) |
U.S. Agency Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 81,263 | 84,210 |
Gross Unrealized Gains | 241 | 536 |
Gross Unrealized Losses | (1,358) | (653) |
Estimated Fair Value | 80,146 | 84,093 |
U.S. Agency Securities [Member] | Temporarily Impaired Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Estimated Fair Value, Less than 12 months | 50,671 | 41,501 |
Unrealized Losses, Less than 12 months | (1,046) | (431) |
Estimated Fair Value, 12 months or longer | 10,343 | 9,846 |
Unrealized Losses, 12 months or longer | (312) | (222) |
Estimated Fair Value | 61,014 | 51,347 |
Unrealized Losses | (1,358) | (653) |
Taxable Municipals Bonds [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 1,277 | 1,279 |
Gross Unrealized Gains | 1 | 5 |
Gross Unrealized Losses | (5) | (1) |
Estimated Fair Value | 1,273 | 1,283 |
Taxable Municipals Bonds [Member] | Temporarily Impaired Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Estimated Fair Value, Less than 12 months | 515 | 521 |
Unrealized Losses, Less than 12 months | (5) | (1) |
Estimated Fair Value | 515 | 521 |
Unrealized Losses | (5) | (1) |
Tax Free Municipal Bonds [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 26,412 | 26,412 |
Gross Unrealized Gains | 441 | 637 |
Gross Unrealized Losses | (185) | (83) |
Estimated Fair Value | 26,668 | 26,966 |
Tax Free Municipal Bonds [Member] | Temporarily Impaired Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Estimated Fair Value, Less than 12 months | 6,810 | 4,860 |
Unrealized Losses, Less than 12 months | (140) | (51) |
Estimated Fair Value, 12 months or longer | 900 | 913 |
Unrealized Losses, 12 months or longer | (45) | (32) |
Estimated Fair Value | 7,710 | 5,773 |
Unrealized Losses | (185) | (83) |
Mortgage-Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 71,772 | 71,389 |
Gross Unrealized Gains | 113 | 201 |
Gross Unrealized Losses | (1,740) | (826) |
Estimated Fair Value | 70,145 | 70,764 |
Mortgage-Backed Securities [Member] | Temporarily Impaired Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Estimated Fair Value, Less than 12 months | 43,853 | 40,441 |
Unrealized Losses, Less than 12 months | (976) | (289) |
Estimated Fair Value, 12 months or longer | 20,975 | 21,566 |
Unrealized Losses, 12 months or longer | (764) | (537) |
Estimated Fair Value | 64,828 | 62,007 |
Unrealized Losses | (1,740) | (826) |
Trust Preferred Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 1,655 | 1,650 |
Gross Unrealized Gains | 325 | 35 |
Estimated Fair Value | $ 1,980 | $ 1,685 |
Securities - Maturities of Debt
Securities - Maturities of Debt Securities Available for Sale (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized cost of debt securities available for sale, due within one year | $ 3,103 | |
Amortized cost of debt securities available for sale, due in one to five years | 29,802 | |
Amortized cost of debt securities available for sale, due in five to ten years | 16,013 | |
Amortized cost of debt securities available for sale, due after ten years | 7,226 | |
Total amortized cost debt securities available for sale with specific maturities | 56,144 | |
Total unrestricted securities available-for-sale at amortized cost | 182,379 | $ 184,940 |
Estimated fair value of debt securities available for sale, due within one year | 3,123 | |
Estimated fair value of debt securities available for sale, due in one to five years | 29,394 | |
Estimated fair value of debt securities available for sale, due in five to ten years | 15,885 | |
Estimated fair value of debt securities available for sale, due after ten years | 7,643 | |
Total estimated fair value of debt securities available for sale with specific maturities | 56,045 | |
Total unrestricted securities available for sale at estimated fair value | 180,212 | 184,791 |
Amortizing Agency Bonds [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total amortized cost of debt securities available for sale without specific maturities | 54,463 | |
Total estimated fair value of debt securities available for sale without specific maturities | 54,022 | |
Mortgage-Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total amortized cost of debt securities available for sale without specific maturities | 71,772 | |
Total unrestricted securities available-for-sale at amortized cost | 71,772 | 71,389 |
Total estimated fair value of debt securities available for sale without specific maturities | 70,145 | |
Total unrestricted securities available for sale at estimated fair value | $ 70,145 | $ 70,764 |
Securities - Additional Informa
Securities - Additional Information (Detail) $ in Millions | Mar. 31, 2018USD ($)Securities | Dec. 31, 2017USD ($) |
Schedule of Available-for-sale Securities [Line Items] | ||
Number of securities with unrealized losses | Securities | 98 | |
Securities pledged to municipalities for deposits in excess of FDIC limits, book value | $ 113.3 | $ 119.8 |
Securities pledged to municipalities for deposits in excess of FDIC limits, market value | 113.8 | 118 |
Overnight [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities with a fair market value sold under agreements | $ 41.8 | $ 38.4 |
Loans - Additional Information
Loans - Additional Information (Detail) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2018USD ($) | Dec. 31, 2017USD ($) | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loan fees | $ 539,000 | $ 443,000 |
Total loans past due more than 90 days and still accruing interest | 0 | 88,000 |
Non-accrual Loans | $ 2,004,000 | 1,285,000 |
Number of loans that have been modified as TDRs | 1 | |
Loans that have been modified as TDRs, subsequently defaulted | $ 0 | |
Commitments to lend additional funds to borrower | 0 | |
Consumer Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Non-accrual Loans | $ 2,000 | 3,000 |
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] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Non-accrual Loans | $ 796,000 | 459,000 |
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] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Non-accrual Loans | $ 0 | |
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] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans past due more than 90 days and still accruing interest | 88,000 | |
Non-accrual Loans | $ 521,000 | 266,000 |
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] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Non-accrual Loans | $ 530,000 | 402,000 |
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] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Non-accrual Loans | $ 111,000 | $ 111,000 |
Farmland [Member] | Minimum [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Fixed rate of interest period | 5 years | |
Farmland [Member] | Maximum [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable maturity period | 20 years | |
Fixed rate of interest period | 10 years | |
Non-Residential Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable maturity period | 20 years | |
Non-accrual Loans | $ 0 | |
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 | 84.20% | 84.80% |
Loans - Composition of Loan Por
Loans - Composition of Loan Portfolio By Type of Loan (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Real estate loans: | ||
Total loans, gross | $ 665,717 | $ 642,371 |
Deferred loan cost, net of fees | (539) | (443) |
Less allowance for loan losses | (4,654) | (4,826) |
Total loans | 660,524 | 637,102 |
Multi-Family [Member] | ||
Real estate loans: | ||
Total loans, gross | 37,977 | 37,445 |
Consumer Loans [Member] | ||
Real estate loans: | ||
Total loans, gross | 8,514 | 8,620 |
Less allowance for loan losses | (232) | (184) |
Commercial Loans [Member] | ||
Real estate loans: | ||
Total loans, gross | 96,527 | 88,938 |
Less allowance for loan losses | (885) | (847) |
Junior Liens [Member] | ||
Real estate loans: | ||
Total loans, gross | 1,181 | 1,184 |
Real Estate Loans [Member] | ||
Real estate loans: | ||
Total loans, gross | 560,676 | 544,813 |
Real Estate Loans [Member] | Multi-Family [Member] | ||
Real estate loans: | ||
Total loans, gross | 37,977 | 37,445 |
Real Estate Loans [Member] | One-to-Four Family Mortgages [Member] | ||
Real estate loans: | ||
Total loans, gross | 167,947 | 163,565 |
Real Estate Loans [Member] | Home Equity Line of Credit [Member] | ||
Real estate loans: | ||
Total loans, gross | 34,261 | 35,697 |
Real Estate Loans [Member] | Construction [Member] | ||
Real estate loans: | ||
Total loans, gross | 40,484 | 30,246 |
Real Estate Loans [Member] | Land [Member] | ||
Real estate loans: | ||
Total loans, gross | 9,096 | 14,873 |
Real Estate Loans [Member] | Non-Residential Real Estate [Member] | ||
Real estate loans: | ||
Total loans, gross | 234,900 | 224,952 |
Real Estate Loans [Member] | Farmland [Member] | ||
Real estate loans: | ||
Total loans, gross | 34,830 | 36,851 |
Real Estate Loans [Member] | Junior Liens [Member] | ||
Real estate loans: | ||
Total loans, gross | 1,181 | 1,184 |
Total Other Loans [Member] | ||
Real estate loans: | ||
Total loans, gross | 105,041 | 97,558 |
Total Other Loans [Member] | Consumer Loans [Member] | ||
Real estate loans: | ||
Total loans, gross | 8,514 | 8,620 |
Total Other Loans [Member] | Commercial Loans [Member] | ||
Real estate loans: | ||
Total loans, gross | $ 96,527 | $ 88,938 |
Loans - Allowance for Loan Loss
Loans - Allowance for Loan Loss Account by Loan (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning balance | $ 4,826 | $ 6,112 | $ 6,112 |
Charge off | (275) | (239) | (3,159) |
Recovery | 35 | 1,396 | |
Provision for Loan Loss | 68 | 291 | 477 |
Ending balance | 4,654 | 4,826 | |
Multi-Family [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning balance | 314 | 412 | 412 |
Recovery | 417 | ||
Provision for Loan Loss | 1 | (515) | |
Ending balance | 315 | 314 | |
One-to-Four Family Mortgages [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning balance | 747 | 852 | 852 |
Charge off | (6) | (66) | |
Recovery | 3 | 13 | |
Provision for Loan Loss | 68 | (52) | |
Ending balance | 812 | 747 | |
Home Equity Line of Credit [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning balance | 189 | 260 | 260 |
Recovery | 2 | 12 | |
Provision for Loan Loss | (2) | (83) | |
Ending balance | 189 | 189 | |
Construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning balance | 161 | 277 | 277 |
Provision for Loan Loss | 95 | (116) | |
Ending balance | 256 | 161 | |
Land [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning balance | 1,223 | 1,760 | 1,760 |
Charge off | (2,608) | ||
Recovery | 559 | ||
Provision for Loan Loss | (520) | 1,512 | |
Ending balance | 703 | 1,223 | |
Non-Residential Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning balance | 789 | 964 | 964 |
Recovery | 4 | 16 | |
Provision for Loan Loss | 66 | (191) | |
Ending balance | 859 | 789 | |
Farmland [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning balance | 367 | 778 | 778 |
Recovery | 1 | 10 | |
Provision for Loan Loss | 29 | (421) | |
Ending balance | 397 | 367 | |
Junior Liens [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning balance | 5 | 8 | 8 |
Recovery | 4 | ||
Provision for Loan Loss | 1 | (7) | |
Ending balance | 6 | 5 | |
Consumer Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning balance | 184 | 208 | 208 |
Charge off | (69) | (261) | |
Recovery | 23 | 87 | |
Provision for Loan Loss | 94 | 150 | |
Ending balance | 232 | 184 | |
Commercial Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning balance | 847 | $ 593 | 593 |
Charge off | (200) | (224) | |
Recovery | 2 | 278 | |
Provision for Loan Loss | 236 | 200 | |
Ending balance | $ 885 | $ 847 |
Loans - Loan Balances by Loan C
Loans - Loan Balances by Loan Classification Allocated Between Past Due Performing and Non-performing (Detail) - USD ($) | Mar. 31, 2018 | Dec. 31, 2017 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Currently Performing | $ 646,667,000 | $ 625,412,000 |
30 - 89 Days Past Due | 432,000 | 393,000 |
More than 90 days past Due and still Accruing | 0 | 88,000 |
Non-accrual Loans | 2,004,000 | 1,285,000 |
Special Mention | 4,491,000 | 5,698,000 |
Substandard | 12,123,000 | 9,495,000 |
Total loans, gross | 665,717,000 | 642,371,000 |
Multi-Family [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Currently Performing | 37,977,000 | 37,445,000 |
Non-accrual Loans | 0 | |
Total loans, gross | 37,977,000 | 37,445,000 |
One-to-Four Family Mortgages [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Currently Performing | 166,672,000 | 162,724,000 |
30 - 89 Days Past Due | 162,000 | 181,000 |
More than 90 days past Due and still Accruing | 88,000 | |
Non-accrual Loans | 521,000 | 266,000 |
Special Mention | 104,000 | |
Substandard | 488,000 | 306,000 |
Total loans, gross | 167,947,000 | 163,565,000 |
Home Equity Line of Credit [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Currently Performing | 33,706,000 | 35,285,000 |
Non-accrual Loans | 530,000 | 402,000 |
Substandard | 25,000 | 10,000 |
Total loans, gross | 34,261,000 | 35,697,000 |
Construction [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Currently Performing | 39,939,000 | 30,246,000 |
Substandard | 545,000 | |
Total loans, gross | 40,484,000 | 30,246,000 |
Land [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Currently Performing | 8,659,000 | 14,322,000 |
Non-accrual Loans | 40,000 | 40,000 |
Special Mention | 397,000 | |
Substandard | 511,000 | |
Total loans, gross | 9,096,000 | 14,873,000 |
Non-Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Currently Performing | 226,036,000 | 216,692,000 |
30 - 89 Days Past Due | 206,000 | 209,000 |
Non-accrual Loans | 0 | |
Special Mention | 1,370,000 | 979,000 |
Substandard | 7,288,000 | 7,072,000 |
Total loans, gross | 234,900,000 | 224,952,000 |
Farmland [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Currently Performing | 33,438,000 | 35,253,000 |
Non-accrual Loans | 111,000 | 111,000 |
Special Mention | 1,281,000 | 1,147,000 |
Substandard | 340,000 | |
Total loans, gross | 34,830,000 | 36,851,000 |
Junior Liens [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Currently Performing | 1,177,000 | 1,180,000 |
Non-accrual Loans | 4,000 | 4,000 |
Total loans, gross | 1,181,000 | 1,184,000 |
Consumer Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Currently Performing | 8,038,000 | 8,373,000 |
30 - 89 Days Past Due | 39,000 | 3,000 |
Non-accrual Loans | 2,000 | 3,000 |
Special Mention | 0 | |
Substandard | 435,000 | 241,000 |
Total loans, gross | 8,514,000 | 8,620,000 |
Commercial Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Currently Performing | 91,025,000 | 83,892,000 |
30 - 89 Days Past Due | 25,000 | |
Non-accrual Loans | 796,000 | 459,000 |
Special Mention | 1,339,000 | 3,572,000 |
Substandard | 3,342,000 | 1,015,000 |
Total loans, gross | $ 96,527,000 | $ 88,938,000 |
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 | Mar. 31, 2018 | Dec. 31, 2017 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Individually evaluated for impairment | $ 196 | $ 289 |
Collectively evaluated for impairment | 4,458 | 4,537 |
Total ending allowance balance | 4,654 | 4,826 |
Loans individually evaluated for impairment | 10,453 | 9,937 |
Loans collectively evaluated for impairment | 655,264 | 632,434 |
Total ending loans balance | 665,717 | 642,371 |
Commercial Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Individually evaluated for impairment | 86 | 233 |
Collectively evaluated for impairment | 799 | 614 |
Total ending allowance balance | 885 | 847 |
Loans individually evaluated for impairment | 3,823 | 1,416 |
Loans collectively evaluated for impairment | 92,704 | 87,522 |
Total ending loans balance | 96,527 | 88,938 |
Land Development/Construction [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Collectively evaluated for impairment | 959 | 1,384 |
Total ending allowance balance | 959 | 1,384 |
Loans individually evaluated for impairment | 505 | 515 |
Loans collectively evaluated for impairment | 49,075 | 44,604 |
Total ending loans balance | 49,580 | 45,119 |
Commercial Real Estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Individually evaluated for impairment | 1 | 2 |
Collectively evaluated for impairment | 1,570 | 1,468 |
Total ending allowance balance | 1,571 | 1,470 |
Loans individually evaluated for impairment | 5,439 | 7,532 |
Loans collectively evaluated for impairment | 302,268 | 291,716 |
Total ending loans balance | 307,707 | 299,248 |
Residential Real Estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Collectively evaluated for impairment | 1,007 | 941 |
Total ending allowance balance | 1,007 | 941 |
Loans individually evaluated for impairment | 252 | 257 |
Loans collectively evaluated for impairment | 203,137 | 200,189 |
Total ending loans balance | 203,389 | 200,446 |
Consumer Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Individually evaluated for impairment | 109 | 54 |
Collectively evaluated for impairment | 123 | 130 |
Total ending allowance balance | 232 | 184 |
Loans individually evaluated for impairment | 434 | 217 |
Loans collectively evaluated for impairment | 8,080 | 8,403 |
Total ending loans balance | $ 8,514 | $ 8,620 |
Loans - Loans by Classification
Loans - Loans by Classification Type and Credit Risk Indicator (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | $ 665,717 | $ 642,371 |
Multi-Family [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 37,977 | 37,445 |
One-to-Four Family Mortgages [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 167,947 | 163,565 |
Home Equity Line of Credit [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 34,261 | 35,697 |
Construction [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 40,484 | 30,246 |
Land [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 9,096 | 14,873 |
Non-Residential Real Estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 234,900 | 224,952 |
Farmland [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 34,830 | 36,851 |
Junior Liens [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 1,181 | 1,184 |
Consumer Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 8,514 | 8,620 |
Commercial Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 96,527 | 88,938 |
Pass [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 647,144 | 625,893 |
Pass [Member] | Multi-Family [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 37,977 | 37,445 |
Pass [Member] | One-to-Four Family Mortgages [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 166,937 | 162,993 |
Pass [Member] | Home Equity Line of Credit [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 33,706 | 35,285 |
Pass [Member] | Construction [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 40,484 | 30,246 |
Pass [Member] | Land [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 8,154 | 14,318 |
Pass [Member] | Non-Residential Real Estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 226,242 | 216,901 |
Pass [Member] | Farmland [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 33,438 | 35,253 |
Pass [Member] | Junior Liens [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 1,181 | 1,184 |
Pass [Member] | Consumer Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 8,076 | 8,376 |
Pass [Member] | Commercial Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 90,949 | 83,892 |
Special Mention [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 4,491 | 5,698 |
Special Mention [Member] | Land [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 397 | |
Special Mention [Member] | Non-Residential Real Estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 1,370 | 979 |
Special Mention [Member] | Farmland [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 1,281 | 1,147 |
Special Mention [Member] | Commercial Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 1,443 | 3,572 |
Impaired Loans Substandard [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 14,082 | 10,780 |
Impaired Loans Substandard [Member] | One-to-Four Family Mortgages [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 1,010 | 572 |
Impaired Loans Substandard [Member] | Home Equity Line of Credit [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 555 | 412 |
Impaired Loans Substandard [Member] | Land [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 545 | 555 |
Impaired Loans Substandard [Member] | Non-Residential Real Estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 7,288 | 7,072 |
Impaired Loans Substandard [Member] | Farmland [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 111 | 451 |
Impaired Loans Substandard [Member] | Consumer Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 438 | 244 |
Impaired Loans Substandard [Member] | Commercial Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | $ 4,135 | $ 1,474 |
Loans - Impaired Loans by Class
Loans - Impaired Loans by Classification Type (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2018 | Dec. 31, 2017 | |
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment | $ 13,508 | $ 9,177 |
Total Recorded Investment | 14,082 | 9,937 |
Unpaid Principal Balance | 13,708 | 9,177 |
Total Unpaid Principal Balance | 14,282 | 9,937 |
Related Allowance | 0 | 0 |
Average Recorded Investment | 11,345 | 15,312 |
Interest Income Recognized | 166 | 583 |
Recorded Investment | 574 | 760 |
Unpaid Principal Balance | 574 | 760 |
Related Allowance | 196 | 289 |
Average Recorded Investment | 668 | 5,016 |
Total Average Recorded Investment | 12,013 | 20,328 |
Interest Income Recognized | 15 | |
Total Interest Income Recognized | 166 | 598 |
Multi-Family [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Related Allowance | 0 | 0 |
Average Recorded Investment | 1,135 | |
One-to-Four Family Mortgages [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment | 1,010 | 257 |
Unpaid Principal Balance | 1,010 | 257 |
Related Allowance | 0 | 0 |
Average Recorded Investment | 634 | 1,235 |
Interest Income Recognized | 13 | 35 |
Home Equity Line of Credit [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment | 555 | |
Unpaid Principal Balance | 555 | |
Related Allowance | 0 | 0 |
Average Recorded Investment | 278 | 447 |
Interest Income Recognized | 6 | 26 |
Construction [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Related Allowance | 0 | 0 |
Land [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment | 545 | 515 |
Unpaid Principal Balance | 545 | 515 |
Related Allowance | 0 | 0 |
Average Recorded Investment | 530 | 837 |
Interest Income Recognized | 9 | 44 |
Average Recorded Investment | 4,006 | |
Non-Residential Real Estate [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment | 7,287 | 7,086 |
Unpaid Principal Balance | 7,287 | 7,086 |
Related Allowance | 0 | 0 |
Average Recorded Investment | 7,187 | 8,979 |
Interest Income Recognized | 77 | 395 |
Recorded Investment | 2 | |
Unpaid Principal Balance | 2 | |
Related Allowance | 2 | |
Average Recorded Investment | 88 | |
Interest Income Recognized | 2 | |
Farmland [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment | 111 | 444 |
Unpaid Principal Balance | 111 | 444 |
Related Allowance | 0 | 0 |
Average Recorded Investment | 278 | 1,094 |
Interest Income Recognized | 35 | |
Recorded Investment | 1 | |
Unpaid Principal Balance | 1 | |
Related Allowance | 1 | |
Average Recorded Investment | 2 | 195 |
Junior Liens [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Related Allowance | 0 | 0 |
Average Recorded Investment | 6 | |
Consumer Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment | 4 | |
Unpaid Principal Balance | 4 | |
Related Allowance | 0 | 0 |
Average Recorded Investment | 2 | 8 |
Interest Income Recognized | 2 | |
Recorded Investment | 434 | 217 |
Unpaid Principal Balance | 434 | 217 |
Related Allowance | 109 | 54 |
Average Recorded Investment | 326 | 248 |
Commercial Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment | 3,996 | 875 |
Unpaid Principal Balance | 4,196 | 875 |
Related Allowance | 0 | 0 |
Average Recorded Investment | 2,436 | 1,571 |
Interest Income Recognized | 61 | 46 |
Recorded Investment | 139 | 541 |
Unpaid Principal Balance | 139 | 541 |
Related Allowance | 86 | 233 |
Average Recorded Investment | $ 340 | 479 |
Interest Income Recognized | $ 13 |
Loans - Summary of Non-accrual
Loans - Summary of Non-accrual Loans by Loan Type (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Commercial loans | $ 2,004 | $ 1,285 |
One-to-Four Family Mortgages [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Commercial loans | 521 | 266 |
Home Equity Line of Credit [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Commercial loans | 530 | 402 |
Land [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Commercial loans | 40 | 40 |
Farmland [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Commercial loans | 111 | 111 |
Junior Liens [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Commercial loans | 4 | 4 |
Consumer Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Commercial loans | 2 | 3 |
Commercial Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Commercial loans | $ 796 | $ 459 |
Loans - Summary of the Activity
Loans - Summary of the Activity in Loans Classified as TDRs (Detail) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2018USD ($)Contracts | Dec. 31, 2017USD ($)Contracts | |
Non-Residential Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | Contracts | 2 | 2 |
Pre-Modification Outstanding Record Investment | $ 3,163,435 | $ 3,163,435 |
Post Modification Outstanding Record Investment, net of related allowance | $ 3,163,435 | $ 3,163,435 |
Commercial Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | Contracts | 1 | |
Pre-Modification Outstanding Record Investment | $ 91,683 | |
Post Modification Outstanding Record Investment, net of related allowance | $ 91,683 |
Foreclosed Assets - Additional
Foreclosed Assets - Additional Information (Detail) | 3 Months Ended |
Mar. 31, 2018USD ($) | |
Banking and Thrift, Interest [Abstract] | |
Minimum book balance for appraisal on all foreclosed assets | $ 250,000 |
Foreclosed Assets - Summary of
Foreclosed Assets - Summary of Foreclosed Properties Activity (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning Balance | $ 3,369 | $ 2,397 | $ 2,397 |
Foreclosure | 25 | 4,312 | |
Sales | (78) | (329) | (3,461) |
Reduction in Values | (10) | ||
Gain (Loss) on Sale | 13 | 131 | |
Ending Balance | 3,329 | 3,369 | |
Multi-Family [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning Balance | 1,775 | 1,775 | |
Sales | (1,761) | ||
Gain (Loss) on Sale | (14) | ||
One-to-Four Family Mortgages [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning Balance | 169 | 135 | 135 |
Foreclosure | 25 | 1,069 | |
Sales | (78) | (1,182) | |
Gain (Loss) on Sale | 13 | 147 | |
Ending Balance | 129 | 169 | |
Home Equity Line of Credit [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning Balance | 28 | 28 | |
Sales | (18) | ||
Reduction in Values | (10) | ||
Land [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning Balance | 3,200 | ||
Foreclosure | 3,200 | ||
Ending Balance | $ 3,200 | 3,200 | |
Non-Residential Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning Balance | $ 459 | 459 | |
Foreclosure | 43 | ||
Sales | (500) | ||
Gain (Loss) on Sale | $ (2) |
Fair Value of Assets and Liab46
Fair Value of Assets and Liabilities - Additional information (Detail) | 3 Months Ended |
Mar. 31, 2018 | |
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 Measurement - Assets
Fair Value Measurement - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Fair Value Assets Liabilities Measured On Recurring Basis [Line Items] | ||
Securities available for sale | $ 180,212 | $ 184,791 |
U.S. Agency Securities [Member] | ||
Fair Value Assets Liabilities Measured On Recurring Basis [Line Items] | ||
Securities available for sale | 80,146 | 84,093 |
Taxable Municipals Bonds [Member] | ||
Fair Value Assets Liabilities Measured On Recurring Basis [Line Items] | ||
Securities available for sale | 1,273 | 1,283 |
Tax Free Municipal Bonds [Member] | ||
Fair Value Assets Liabilities Measured On Recurring Basis [Line Items] | ||
Securities available for sale | 26,668 | 26,966 |
Trust Preferred Securities [Member] | ||
Fair Value Assets Liabilities Measured On Recurring Basis [Line Items] | ||
Securities available for sale | 1,980 | 1,685 |
Mortgage-Backed Securities [Member] | ||
Fair Value Assets Liabilities Measured On Recurring Basis [Line Items] | ||
Securities available for sale | 70,145 | 70,764 |
Fair Value, Measurements, Recurring [Member] | ||
Fair Value Assets Liabilities Measured On Recurring Basis [Line Items] | ||
Securities available for sale | 180,212 | 184,791 |
Fair Value, Measurements, Recurring [Member] | U.S. Agency Securities [Member] | ||
Fair Value Assets Liabilities Measured On Recurring Basis [Line Items] | ||
Securities available for sale | 80,146 | 84,093 |
Fair Value, Measurements, Recurring [Member] | Taxable Municipals Bonds [Member] | ||
Fair Value Assets Liabilities Measured On Recurring Basis [Line Items] | ||
Securities available for sale | 26,668 | 1,283 |
Fair Value, Measurements, Recurring [Member] | Tax Free Municipal Bonds [Member] | ||
Fair Value Assets Liabilities Measured On Recurring Basis [Line Items] | ||
Securities available for sale | 1,273 | 26,966 |
Fair Value, Measurements, Recurring [Member] | Trust Preferred Securities [Member] | ||
Fair Value Assets Liabilities Measured On Recurring Basis [Line Items] | ||
Securities available for sale | 1,980 | 1,685 |
Fair Value, Measurements, Recurring [Member] | Mortgage-Backed Securities [Member] | ||
Fair Value Assets Liabilities Measured On Recurring Basis [Line Items] | ||
Securities available for sale | 70,145 | 70,764 |
Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value Assets Liabilities Measured On Recurring Basis [Line Items] | ||
Securities available for sale | 178,232 | 183,106 |
Significant Other Observable Inputs (Level 2) [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value Assets Liabilities Measured On Recurring Basis [Line Items] | ||
Securities available for sale | 178,232 | 183,106 |
Significant Other Observable Inputs (Level 2) [Member] | Fair Value, Measurements, Recurring [Member] | U.S. Agency Securities [Member] | ||
Fair Value Assets Liabilities Measured On Recurring Basis [Line Items] | ||
Securities available for sale | 80,146 | 84,093 |
Significant Other Observable Inputs (Level 2) [Member] | Fair Value, Measurements, Recurring [Member] | Taxable Municipals Bonds [Member] | ||
Fair Value Assets Liabilities Measured On Recurring Basis [Line Items] | ||
Securities available for sale | 26,668 | 1,283 |
Significant Other Observable Inputs (Level 2) [Member] | Fair Value, Measurements, Recurring [Member] | Tax Free Municipal Bonds [Member] | ||
Fair Value Assets Liabilities Measured On Recurring Basis [Line Items] | ||
Securities available for sale | 1,273 | 26,966 |
Significant Other Observable Inputs (Level 2) [Member] | Fair Value, Measurements, Recurring [Member] | Mortgage-Backed Securities [Member] | ||
Fair Value Assets Liabilities Measured On Recurring Basis [Line Items] | ||
Securities available for sale | 70,145 | 70,764 |
Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value Assets Liabilities Measured On Recurring Basis [Line Items] | ||
Securities available for sale | 1,980 | 1,685 |
Significant Unobservable Inputs (Level 3) [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value Assets Liabilities Measured On Recurring Basis [Line Items] | ||
Securities available for sale | 1,980 | 1,685 |
Significant Unobservable Inputs (Level 3) [Member] | Fair Value, Measurements, Recurring [Member] | Trust Preferred Securities [Member] | ||
Fair Value Assets Liabilities Measured On Recurring Basis [Line Items] | ||
Securities available for sale | $ 1,980 | $ 1,685 |
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 | Mar. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Assets | |||
Foreclosed assets | $ 3,329 | $ 3,369 | $ 2,397 |
Fair Value, Measurements, Nonrecurring [Member] | |||
Assets | |||
Foreclosed assets | 3,329 | 3,369 | |
Impaired loans, net of allowance | 378 | 473 | |
Significant Unobservable Inputs (Level 3) [Member] | Fair Value, Measurements, Nonrecurring [Member] | |||
Assets | |||
Foreclosed assets | 3,329 | 3,369 | |
Impaired loans, net of allowance | $ 378 | $ 473 |
Fair Value of Assets and Liab49
Fair Value of Assets and Liabilities - Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis (Parenthetical) (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Fair Value Assets And Liabilities Measured On Nonrecurring Basis [Line Items] | ||
Allowance for impaired loans | $ 196 | $ 289 |
Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value Assets And Liabilities Measured On Nonrecurring Basis [Line Items] | ||
Allowance for impaired loans | $ 196 | $ 289 |
Fair Value of Assets and Liab50
Fair Value of Assets and Liabilities - Quantitative Information about Level 3 Fair Value Measurements for Assets Measured at Fair Value on Recurring and Non-recurring Basis (Detail) - Significant Unobservable Inputs (Level 3) [Member] - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2018 | Dec. 31, 2017 | |
Fair Value, Measurements, Nonrecurring [Member] | Foreclosed Assets [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair Value | $ 3,329 | $ 3,369 |
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 | $ 574 | $ 760 |
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 | $ 1,980 | $ 1,685 |
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 Liab51
Fair Value of Assets and Liabilities - Estimated Fair Values of Financial Instruments (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Financial Assets: | ||
Securities available for sale | $ 180,212 | $ 184,791 |
Amortized Cost [Member] | ||
Financial Assets: | ||
Cash and due from banks | 18,472 | 37,965 |
Interest-bearing deposits | 3,149 | 7,111 |
Securities available for sale | 180,212 | 184,791 |
Federal Home Loan Bank stock | 4,428 | 4,428 |
Loans held for sale | 2,706 | 1,539 |
Loans receivable | 665,178 | 637,102 |
Accrued interest receivable | 3,212 | 3,589 |
Financial liabilities: | ||
Deposits | 746,806 | 754,009 |
Advances from borrowers for taxes and insurance | 780 | 808 |
Advances from Federal Home Loan Bank | 25,000 | 23,000 |
Repurchase agreements | 41,792 | 38,353 |
Subordinated debentures | 10,310 | 10,310 |
Estimated Fair Value [Member] | ||
Financial Assets: | ||
Cash and due from banks | 180,472 | 37,965 |
Interest-bearing deposits | 3,149 | 7,111 |
Securities available for sale | 180,212 | 184,791 |
Federal Home Loan Bank stock | 4,428 | 4,428 |
Loans held for sale | 2,706 | 1,539 |
Loans receivable | 633,671 | 615,265 |
Accrued interest receivable | 3,212 | 3,589 |
Financial liabilities: | ||
Deposits | 745,508 | 754,510 |
Advances from borrowers for taxes and insurance | 780 | 808 |
Advances from Federal Home Loan Bank | 24,795 | 22,849 |
Repurchase agreements | 41,792 | 38,353 |
Subordinated debentures | 10,099 | 10,099 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Financial Assets: | ||
Cash and due from banks | 180,472 | 37,965 |
Interest-bearing deposits | 3,149 | 7,111 |
Significant Other Observable Inputs (Level 2) [Member] | ||
Financial Assets: | ||
Securities available for sale | 178,232 | 183,106 |
Loans held for sale | 2,706 | 1,539 |
Financial liabilities: | ||
Deposits | 745,508 | 754,510 |
Advances from borrowers for taxes and insurance | 781 | 808 |
Advances from Federal Home Loan Bank | 24,795 | 22,849 |
Repurchase agreements | 41,792 | 38,353 |
Significant Unobservable Inputs (Level 3) [Member] | ||
Financial Assets: | ||
Securities available for sale | 1,980 | 1,685 |
Federal Home Loan Bank stock | 4,428 | 4,428 |
Loans receivable | 633,671 | |
Accrued interest receivable | 3,212 | 3,589 |
Financial liabilities: | ||
Subordinated debentures | $ 10,099 | $ 10,099 |
Effect of New Accounting Pron52
Effect of New Accounting Pronouncements - Additional Information (Detail) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2018 | Dec. 31, 2017 | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
Corporate income tax rate | 21.00% | |
ASU 2018-02 [Member] | ||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
Corporate income tax rate | 21.00% | 34.00% |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) - USD ($) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2018 | Dec. 31, 2017 | |
Income Tax Benefit [Line Items] | ||
Unrecognized tax benefits | $ 0 | |
Effective tax rate | 21.00% | 34.00% |
Effective tax rate | 21.00% | |
Bank owned life insurance | $ 10,439,000 | $ 10,368,000 |
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 | $ 26,700,000 |
Esop - Additional Information (
Esop - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions | 3 Months Ended | 12 Months Ended |
Mar. 31, 2018 | Dec. 31, 2017 | |
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items] | ||
Total ESOP shares | 600,234 | 600,234 |
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 ($) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2018 | Dec. 31, 2017 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||
Accrued for allocation to participants | 10,873 | |
Earned ESOP shares | 165,686 | 165,686 |
Unearned ESOP shares | 423,675 | 434,548 |
Total ESOP shares | 600,234 | 600,234 |
Fair value of unearned shares | $ 6,164,471 | $ 6,127,127 |
Commitments and Contingencies -
Commitments and Contingencies - Additional Information (Detail) - USD ($) | Mar. 31, 2018 | Dec. 31, 2017 |
Loss Contingencies [Line Items] | ||
Undisbursed loan commitments | $ 62,900,000 | |
Time deposits | 287,077,000 | $ 304,969,000 |
Outstanding borrowings | 25,000,000 | $ 23,000,000 |
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 | 293,000 | |
Unused Home Equity Lines of Credit [Member] | ||
Loss Contingencies [Line Items] | ||
Lines of credit outstanding | 33,100,000 | |
Personal Lines of Credit [Member] | ||
Loss Contingencies [Line Items] | ||
Lines of credit outstanding | 20,500,000 | |
Loan Origination Commitments [Member] | ||
Loss Contingencies [Line Items] | ||
Outstanding commitments | 48,400,000 | |
One Year [Member] | ||
Loss Contingencies [Line Items] | ||
Time deposits | 40,900,000 | |
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 | 61,900,000 | |
One Year Or Less [Member] | Minimum [Member] | ||
Loss Contingencies [Line Items] | ||
Certificates of deposits | $ 250,000 |
Commitments and Contingencies57
Commitments and Contingencies - Schedule of FHLB Borrowings (Detail) - USD ($) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2018 | Dec. 31, 2017 | |
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ||
Outstanding Balance | $ 25,000,000 | $ 23,000,000 |
Rate | 1.59% | 1.57% |
Overnight [Member] | ||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ||
Outstanding Balance | $ 2,000,000 | |
Rate | 1.82% | |
July 6, 2018 [Member] | ||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ||
Outstanding Balance | $ 6,000,000 | $ 6,000,000 |
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 | $ 7,000,000 | $ 7,000,000 |
Rate | 1.55% | 1.55% |
Maturity | Jan. 10, 2019 | Jan. 10, 2019 |
January 10, 2020 [Member] | ||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ||
Outstanding Balance | $ 5,000,000 | $ 5,000,000 |
Rate | 1.73% | 1.73% |
Maturity | Jan. 10, 2020 | Jan. 10, 2020 |
October 6, 2020 [Member] | ||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ||
Outstanding Balance | $ 5,000,000 | $ 5,000,000 |
Rate | 1.92% | 1.92% |
Maturity | Oct. 6, 2020 | Oct. 6, 2020 |
Regulatory Matters - Additional
Regulatory Matters - Additional Information (Detail) - USD ($) $ in Thousands | 1 Months Ended | 3 Months Ended | ||
Jan. 31, 2016 | Mar. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2015 | |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||||
Common equity tier one capital ratio | 4.50% | 4.50% | ||
Tier 1 risk based capital ratios | 6.00% | 6.00% | ||
Total risk based capital ratio | 8.00% | 8.00% | ||
Common equity Tier 1 risk-based capital ratio | 14.80% | 15.20% | ||
Minimum capital conservation buffer | 0.625% | 1.875% | ||
Total assets | $ 15,000,000 | |||
Common equity tier 1 capital assets | 39,043 | $ 37,764 | ||
Maximum [Member] | ||||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||||
Common equity tier 1 capital assets | $ 250,000,000 | |||
Bank Holding Companies and Banks Subject to the rules [Member] | ||||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||||
Common equity tier one capital ratio | 4.50% | |||
Tier 1 risk based capital ratios | 8.50% | 6.00% | 4.00% | |
Total risk based capital ratio | 10.50% | 8.00% | ||
Tier 1 leverage ratio | 4.00% | |||
Capital conservation buffer ratio | 2.50% | |||
Common equity Tier 1 risk-based capital ratio | 7.00% |
Regulatory Matters - The Compan
Regulatory Matters - The Company's Consolidated Capital Ratios and the Bank's Actual Capital Amounts and Ratios (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Tier 1 leverage capital to adjusted total assets, Actual Amount | $ 96,343 | $ 95,709 |
Tier 1 leverage capital to adjusted total assets, Minimum Capital Required - Basel III Phase-In Schedule, Amount | 36,294 | 36,137 |
Tier 1 leverage capital to adjusted total assets, To be Well Capitalized for Prompt Corrective Action Provision, Amount | 45,368 | 45,171 |
Total capital to risk weighted assets, Actual Amount | 100,997 | 100,535 |
Total capital to risk weighted assets, Minimum Capital Required - Basel III Phase-In Schedule, Amount | 52,058 | 50,352 |
Total capital to risk weighted assets, To be Well Capitalized for Prompt Corrective Action Provision, Amount | 65,072 | 62,940 |
Tier 1 capital to risk weighted assets, Actual Amount | 96,343 | 95,709 |
Tier 1 capital to risk weighted assets, Minimum Capital Required - Basel III Phase-In Schedule, Amount | 39,043 | 37,764 |
Tier 1 capital to risk weighted assets, To be Well Capitalized for Prompt Corrective Action Provision, Amount | 52,058 | 50,352 |
Common equity tier 1 capital to risk weighted assets, Actual Amount | 96,343 | 95,709 |
Common equity tier 1 capital to risk weighted assets, Minimum Capital Required - Basel III Phase-In Schedule, Amount | $ 29,283 | $ 28,323 |
Tier 1 leverage capital to adjusted total assets, Actual Ratio | 10.60% | 10.60% |
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 | 15.50% | 16.00% |
Total capital to risk weighted assets, Minimum Capital Required - Basel III Phase-In Schedule, Ratio | 8.00% | 8.00% |
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 | 14.80% | 15.20% |
Tier 1 capital to risk weighted assets, Minimum Capital Required - Basel III Phase-In Schedule, Ratio | 6.00% | 6.00% |
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 | 14.80% | 15.20% |
Common equity tier 1 capital to risk weighted assets, Minimum Capital Required - Basel III Phase-In Schedule, Ratio | 4.50% | 4.50% |
Bank [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Tier 1 leverage capital to adjusted total assets, Actual Amount | $ 93,775 | $ 95,123 |
Tier 1 leverage capital to adjusted total assets, Minimum Capital Required - Basel III Phase-In Schedule, Amount | 36,297 | 36,090 |
Tier 1 leverage capital to adjusted total assets, To be Well Capitalized for Prompt Corrective Action Provision, Amount | 45,371 | 45,112 |
Total capital to risk weighted assets, Actual Amount | 98,429 | 99,949 |
Total capital to risk weighted assets, Minimum Capital Required - Basel III Phase-In Schedule, Amount | 51,946 | 50,314 |
Total capital to risk weighted assets, To be Well Capitalized for Prompt Corrective Action Provision, Amount | 64,933 | 62,892 |
Tier 1 capital to risk weighted assets, Actual Amount | 93,775 | 95,123 |
Tier 1 capital to risk weighted assets, Minimum Capital Required - Basel III Phase-In Schedule, Amount | 38,960 | 37,735 |
Tier 1 capital to risk weighted assets, To be Well Capitalized for Prompt Corrective Action Provision, Amount | 51,946 | 50,314 |
Common equity tier 1 capital to risk weighted assets, Actual Amount | 93,775 | 95,123 |
Common equity tier 1 capital to risk weighted assets, Minimum Capital Required - Basel III Phase-In Schedule, Amount | 29,220 | 28,301 |
Common equity tier 1 capital to risk weighted assets, To be Well Capitalized for Prompt Corrective Action Provision, Amount | $ 42,207 | $ 40,880 |
Tier 1 leverage capital to adjusted total assets, Actual Ratio | 10.30% | 10.50% |
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 | 15.20% | 15.90% |
Total capital to risk weighted assets, Minimum Capital Required - Basel III Phase-In Schedule, Ratio | 8.00% | 8.00% |
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 | 14.40% | 15.10% |
Tier 1 capital to risk weighted assets, Minimum Capital Required - Basel III Phase-In Schedule, Ratio | 6.00% | 6.00% |
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 | 14.40% | 15.10% |
Common equity tier 1 capital to risk weighted assets, Minimum Capital Required - Basel III Phase-In Schedule, Ratio | 4.50% | 4.50% |
Common equity tier 1 capital to risk weighted assets, To be Well Capitalized for Prompt Corrective Action Provision, Ratio | 6.50% | 6.50% |
Subsequent Events - Additional
Subsequent Events - Additional Information (Detail) - Subsequent Event [Member] - Stilwell Group [Member] | Apr. 10, 2018 |
Subsequent Event [Line Items] | |
Ownership percentage | 9.50% |
Beneficial ownership threshold percentage | 5.00% |