Document and Entity Information
Document and Entity Information - shares | 3 Months Ended | |
Mar. 31, 2019 | May 06, 2019 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Mar. 31, 2019 | |
Document Fiscal Year Focus | 2019 | |
Document Fiscal Period Focus | Q1 | |
Trading Symbol | HFBC | |
Entity Registrant Name | HOPFED BANCORP INC | |
Entity Central Index Key | 0001041550 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Common Stock, Shares Outstanding | 6,648,887 |
Interim Consolidated Condensed
Interim Consolidated Condensed Statements of Financial Condition - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Assets | ||
Cash and due from banks | $ 35,052 | $ 36,339 |
Interest-bearing deposits in banks | 12,364 | 15,711 |
Cash and cash equivalents | 47,416 | 52,050 |
Federal Home Loan Bank stock, at cost | 4,428 | 4,428 |
Securities available for sale | 172,168 | 170,804 |
Loans held for sale | 742 | 1,248 |
Loans receivable, net of allowance for loan losses and deferred loan income at March 31, 2019 of $4,553 and $395 respectively, and $4,536 and $419 at December 31, 2018, respectively. | 666,250 | 658,782 |
Accrued interest receivable | 3,666 | 3,503 |
Foreclosed assets, net | 3,446 | 3,598 |
Bank owned life insurance | 10,618 | 10,672 |
Premises and equipment, net | 21,079 | 21,759 |
Deferred tax assets | 2,165 | 1,825 |
Other assets | 2,282 | 2,730 |
Total assets | 934,260 | 931,399 |
Deposits: | ||
Non-interest-bearing accounts | 125,674 | 129,476 |
Interest-bearing accounts | ||
Checking accounts | 205,420 | 196,972 |
Savings and money market accounts | 96,504 | 97,232 |
Other time deposits | 314,229 | 316,157 |
Total deposits | 741,827 | 739,837 |
Advances from Federal Home Loan Bank | 26,000 | 33,000 |
Repurchase agreements | 59,046 | 53,011 |
Subordinated debentures | 10,310 | 10,310 |
Advances from borrowers for taxes and insurance | 914 | 1,279 |
Accrued expenses and other liabilities | 3,276 | 3,176 |
Total liabilities | 837,633 | 840,613 |
Stockholders' equity | ||
Preferred stock, par value $0.01 per share; authorized-500,000 shares; no shares issued and outstanding at March 31, 2019 and December 31, 2018 | ||
Common stock, par value $.01 per share; authorized 15,000,000 shares; 7,990,867 issued and 6,648,887 outstanding at March 31, 2019 and December 31, 2018 | 80 | 80 |
Additional paid-in-capital | 59,210 | 59,105 |
Retained earnings | 55,757 | 55,134 |
Treasury stock, at cost (1,341,980 shares at March 31, 2019 and December 31, 2018) | (16,706) | (16,706) |
Unearned Employee Stock Ownership Plan ("ESOP") shares, at cost (371,693 shares at March 31, 2019 and 382,691 share at December 31, 2018) | (5,124) | (5,268) |
Accumulated other comprehensive loss, net of taxes | (330) | (1,559) |
Total stockholders' equity | 92,887 | 90,786 |
Total liabilities and stockholders' equity | $ 934,260 | $ 931,399 |
Interim Consolidated Condense_2
Interim Consolidated Condensed Statements of Financial Condition (Parenthetical) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Statement of Financial Position [Abstract] | ||
Loans receivable, allowance for loans | $ 4,553 | $ 4,536 |
Deferred loan income | $ 395 | $ 419 |
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 | 7,990,867 | 7,990,867 |
Common stock, shares outstanding | 6,648,887 | 6,648,887 |
Treasury stock, shares | 1,341,980 | 1,341,980 |
Unearned ESOP shares | 371,693 | 382,691 |
Interim Consolidated Condense_3
Interim Consolidated Condensed Statements of Income - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Interest and dividend income: | ||
Loans | $ 8,230 | $ 7,477 |
Investment in taxable securities available for sale | 1,035 | 1,079 |
Nontaxable securities available for sale | 195 | 213 |
Interest-bearing deposits | 82 | 29 |
Total interest and dividend income | 9,542 | 8,798 |
Interest expense: | ||
Deposits | 2,137 | 1,244 |
FHLB borrowings | 159 | 92 |
Repurchase agreements | 302 | 154 |
Subordinated debentures | 147 | 122 |
Total interest expense | 2,745 | 1,612 |
Net interest income | 6,797 | 7,186 |
Provision for loan losses | 60 | 68 |
Net interest income after provision for loan losses | 6,737 | 7,118 |
Non-interest income: | ||
Service charges | 667 | 706 |
Merchant card | 299 | 308 |
Mortgage origination revenue | 249 | 319 |
Gain on sale of securities | 27 | |
Income from bank owned life insurance | 117 | 71 |
Income from financial services | 173 | 138 |
Other operating income | 131 | 175 |
Total non-interest income | 1,636 | 1,744 |
Non-interest expenses: | ||
Salaries and benefits | 4,044 | 4,117 |
Occupancy | 734 | 782 |
Data processing | 822 | 784 |
State deposit tax | 215 | 169 |
Professional services | 332 | 466 |
Advertising | 248 | 308 |
Foreclosure, net | 20 | (6) |
Gain on sale of fixed assets | (27) | |
Merger | 596 | |
Other | 760 | 920 |
Total non-interest expense | 7,744 | 7,540 |
Net income before income tax expense | 629 | 1,322 |
Income tax expense | 6 | 196 |
Net income | $ 623 | $ 1,126 |
Earnings per share: | ||
Basic | $ 0.10 | $ 0.18 |
Diluted | $ 0.10 | 0.18 |
Dividend per share | $ 0.05 | |
Weighted average shares outstanding - basic | 6,277,284 | 6,188,413 |
Weighted average shares outstanding - diluted | 6,277,284 | 6,188,413 |
Interim Consolidated Condense_4
Interim Consolidated Condensed Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Statement of Comprehensive Income [Abstract] | ||
Net income | $ 623 | $ 1,126 |
Other comprehensive income (loss), net of tax: | ||
Unrealized gain (loss) on non-other than temporary impaired investment securities available for sale, net of taxes of ($327) and $486 for the three-month periods ended March 31, 2019 and March 31, 2018, respectively. | 1,229 | (1,830) |
Unrealized gain on OTTI securities, net of taxes of $0 and ($61) for the three-month periods ended March 31, 2019 and March 31, 2018. | 233 | |
Reclassification adjustment for gains included in net income, net of taxes of $0 and $6 for the three-month periods ended March 31, 2019 and March 31, 2018, respectively. | (21) | |
Total other comprehensive income (loss) | 1,229 | (1,618) |
Comprehensive income (loss) | $ 1,852 | $ (492) |
Interim Consolidated Condense_5
Interim Consolidated Condensed Statements of Comprehensive Income (Loss) (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Statement of Comprehensive Income [Abstract] | ||
Unrealized gain (loss) on investment securities available for sale, tax effect | $ (327) | $ 486 |
Unrealized gain on OTTI securities, tax effect | 0 | 61 |
Reclassification adjustment for other than temporary impairment included in net income, tax effect | $ 0 | $ 6 |
Interim Consolidated Condense_6
Interim Consolidated Condensed Statement of Stockholders' Equity - USD ($) $ in Thousands | Total | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Treasury Stock, Common [Member] | Unearned ESOP Shares [Member] | Accumulated Other Comprehensive Income (Loss) [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 | |||||
Compensation expense, restricted stock awards | 30 | 30 | |||||
ESOP shares earned | 143 | 143 | |||||
Change in price of ESOP shares | 20 | 20 | |||||
Net change in unrealized loss (gain) on securities available for sale, net of income taxes | (1,618) | (1,618) | |||||
Repurchase common stock | (29) | (29) | |||||
Repurchase common stock, shares | (2,034) | ||||||
Cash dividend to common stockholders | (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 | ||||||
Beginning balance at Dec. 31, 2018 | 90,786 | $ 80 | 59,105 | 55,134 | (16,706) | (5,268) | (1,559) |
Beginning balance, Shares at Dec. 31, 2018 | 6,648,887 | ||||||
Net income | 623 | 623 | |||||
Compensation expense, restricted stock awards | 37 | 37 | |||||
ESOP shares committed to be released | 144 | 144 | |||||
Change in price of ESOP shares | 68 | 68 | |||||
Net change in unrealized loss (gain) on securities available for sale, net of income taxes | 1,229 | 1,229 | |||||
Ending balance at Mar. 31, 2019 | $ 92,887 | $ 80 | $ 59,210 | $ 55,757 | $ (16,706) | $ (5,124) | $ (330) |
Ending balance, Shares at Mar. 31, 2019 | 6,648,887 |
Interim Consolidated Condense_7
Interim Consolidated Condensed Statement of Stockholders' Equity (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Net change in unrealized gain (losses) on securities available for sale, taxes | $ (327) | $ 431 |
Accumulated Other Comprehensive Income (Loss) [Member] | ||
Net change in unrealized gain (losses) on securities available for sale, taxes | $ (327) | $ 431 |
Interim Consolidated Condense_8
Interim Consolidated Condensed Statements of Cash Flows - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Cash flows from operating activities: | ||
Net cash provided by operating activities | $ 971 | $ 960 |
Cash flows from investing activities: | ||
Proceeds from sales, calls and maturities of securities available for sale | 4,958 | 7,013 |
Purchase of securities available for sale | (4,917) | (4,210) |
Net increase in loans | (6,979) | (24,922) |
Proceeds from sale of foreclosed assets | 135 | 78 |
Proceeds from bank owned insurance death benefit | 125 | |
Proceeds from sale of premises and equipment | 423 | |
Purchase of premises and equipment | (10) | (222) |
Net cash used in investing activities | (6,265) | (22,263) |
Cash flows from financing activities: | ||
Net increase in demand deposits | 3,918 | 10,689 |
Net decrease in time and other deposits | (1,928) | (17,892) |
Decrease in advances from borrowers for taxes and insurance | (365) | (28) |
Advances from Federal Home Loan Bank | 12,000 | |
Repayment of advances from Federal Home Loan Bank | (7,000) | (10,000) |
Net increase in repurchase agreements | 6,035 | 3,439 |
Cash used to repurchase treasury stock | (29) | |
Dividends paid on common stock | (331) | |
Net cash provided by (used in) financing activities | 660 | (2,152) |
Decrease in cash and cash equivalents | (4,634) | (23,455) |
Cash and cash equivalents, beginning of period | 52,050 | 45,076 |
Cash and cash equivalents, end of period | 47,416 | 21,621 |
Supplemental disclosures of cash flow information: | ||
Interest paid | 2,684 | $ 1,640 |
Income taxes paid | $ 500 |
Basis of Presentation
Basis of Presentation | 3 Months Ended |
Mar. 31, 2019 | |
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, 2019 | |
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, 2019 and March 31, 2018, the Company has excluded all unearned shares held by the ESOP. For the three-month Periods 2019 2018 Basic EPS: Net income $ 623,000 $ 1,126,000 Average common shares outstanding 6,277,284 6,188,413 Earnings per share $ 0.10 $ 0.18 Diluted EPS Net income $ 623,000 $ 1,126,000 Average common shares outstanding 6,277,284 6,188,413 Dilutive effect of stock options — — Average diluted shares outstanding 6,277,284 6,188,413 Earnings per share, diluted $ 0.10 $ 0.18 |
Securities
Securities | 3 Months Ended |
Mar. 31, 2019 | |
Cash and Cash Equivalents [Abstract] | |
Securities | (3) SECURITIES The carrying amount of securities and their estimated fair values at March 31, 2019 and December 31, 2018 were as follows: March 31, 2019 Amortized Gross Gross Estimated (Dollars in Thousands) Restricted: FHLB stock $ 4,428 — — 4,428 Available for sale: U.S. Treasury securities $ 4,929 4 — 4,933 U.S. Agency securities 78,663 442 (722 ) 78,383 Tax free municipal bonds 24,718 371 (55 ) 25,034 Taxable municipal bonds 955 2 (3 ) 954 Mortgage backed securities 63,320 112 (568 ) 62,864 $ 172,585 931 (1,348 ) 172,168 December 31, 2018 Amortized Gross Gross Estimated (Dollars in Thousands) Restricted: FHLB stock $ 4,428 — — 4,428 Available for sale: U.S. Agency securities 81,158 345 (1,154 ) 80,349 Tax free municipal bonds 25,753 181 (152 ) 25,782 Taxable municipal bonds 957 2 (5 ) 954 Mortgage-backed securities 64,909 56 (1,246 ) 63,719 $ 172,777 584 (2,557 ) 170,804 The scheduled maturities of debt securities available for sale at March 31, 2019 were as follows: Amortized Estimated (Dollars in Thousands) Due within one year $ 6,889 $ 6,897 Due in one to five years 28,310 28,163 Due in five to ten years 13,926 13,910 Due after ten years 14,890 15,260 Amortizing agency bonds 45,250 45,074 Mortgage-backed securities 63,320 62,864 $ 172,585 $ 172,168 The estimated fair value and unrealized loss amounts of temporarily impaired investments as of March 31, 2019 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 $ 1,598 (16 ) 50,469 (706 ) 52,067 (722 ) Tax free municipal bonds — — 4,813 (55 ) 4,813 (55 ) Taxable municipal bonds — — 507 (3 ) 507 (3 ) Mortgage-backed securities 3,771 (1 ) 51,151 (567 ) 54,922 (568 ) Total available for sale $ 5,369 (17 ) 106,940 (1,331 ) 112,309 (1,348 ) The estimated fair value and unrealized loss amounts of temporarily impaired investments as of December 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 $ — — 54,441 (1,154 ) 54,441 (1,154 ) Tax free municipal bonds 1,465 (8 ) 5,619 (144 ) 7,084 (152 ) Taxable municipal bonds — — 507 (5 ) 507 (5 ) Mortgage-backed securities — — 54,548 (1,246 ) 54,548 (1,246 ) Total available for sale $ 1,465 (8 ) 115,115 (2,549 ) 116,580 (2,557 ) 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, 2019, the Company has 82 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, 2019. At March 31, 2019 and December 31, 2018, securities with a book value of approximately $96.0 million and $96.5 million and a market value of approximately $97.1 million and $96.9 million, respectively, were pledged to various municipalities for deposits in excess of FDIC limits as required by law. At March 31, 2019 and December 31, 2018, securities with a market value of $59.0 million and $53.0 million, respectively, were sold to customers as part of overnight repurchase agreements. |
Loans
Loans | 3 Months Ended |
Mar. 31, 2019 | |
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 • Non-residential non-owner non-residential • 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. • 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, 2019 and December 31, 2018. March 31, 2019 December 31, 2018 (Dollars in Thousands) Real estate loans: One-to-four $ 174,274 $ 175,638 Home equity lines of credit 31,407 32,781 Junior liens 995 1,037 Multi-family 26,377 26,067 Construction 36,723 38,700 Land 18,745 12,175 Non-residential 248,285 242,390 Farmland 33,242 34,041 Total mortgage loans 570,048 562,829 Consumer loans 8,060 8,442 Commercial loans 93,090 92,466 Total other loans 101,150 100,908 Total loans 671,198 663,737 Deferred loan fees, net of cost (395 ) (419 ) Less allowance for loan losses (4,553 ) (4,536 ) Loans receivable, net $ 666,250 $ 658,782 Although the Company has a diversified loan portfolio, 84.9% and 84.8% of the portfolio was concentrated in loans secured by real estate at March 31, 2019 and December 31, 2018, respectively. At March 31, 2019 and December 31, 2018, 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 - All commercial loans with a risk classification of watch or better are considered a pass credit. 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, 2019: Balance Charge offs Recoveries Provision Ending (Dollars in Thousands) One-to-four $ 992 — 3 (60 ) 935 Home equity line of credit 168 — — (14 ) 154 Junior liens 4 — — — 4 Multi-family 172 — — (26 ) 146 Construction 171 — — — 171 Land 797 — — 218 1,015 Non-residential 1,293 — 2 (49 ) 1,246 Farmland 152 — — (11 ) 141 Consumer loans 112 (73 ) 18 100 157 Commercial loans 675 — 7 (98 ) 584 Total $ 4,536 (73 ) 30 60 4,553 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, 2018: Balance Charge offs Recoveries Provision Ending (Dollars in Thousands) One-to-four $ 747 (6 ) 13 238 992 Home equity line of credit 189 — 9 (30 ) 168 Junior liens 5 — — (1 ) 4 Multi-family 314 — — (142 ) 172 Construction 161 — — 10 171 Land 1,223 (40 ) — (386 ) 797 Non-residential 789 (23 ) 14 513 1,293 Farmland 367 (2 ) 1 (214 ) 152 Consumer loans 184 (329 ) 80 177 112 Commercial loans 847 (307 ) 12 123 675 Total $ 4,826 (707 ) 129 288 4,536 The table below presents gross loan balance at March 31, 2019 by loan classification allocated between past due, performing and non-accrual: Currently 30 - 89 Non-accrual Total One-to-four 173,754 502 18 174,274 Home equity line of credit 31,158 153 96 31,407 Junior liens 991 — 4 995 Multi-family 26,377 — — 26,377 Construction 36,571 — 152 36,723 Land 18,745 — — 18,745 Non-residential 247,963 — 322 248,285 Farmland 32,667 575 — 33,242 Consumer loans 8,051 8 1 8,060 Commercial loans 91,918 701 471 93,090 Total 668,195 1,939 1,064 671,198 The table below presents gross loan balance at December 31, 2018 by loan classification allocated between past due, performing and non-accrual: Currently 30 – 89 Non-accrual Total One-to-four $ 174,962 614 62 $ 175,638 Home equity line of credit 32,525 158 98 32,781 Junior liens 1,033 — 4 1,037 Multi-family 26,067 — — 26,067 Construction 38,548 — 152 38,700 Land 12,175 — — 12,175 Non-residential 241,809 — 581 242,390 Farmland 34,041 — — 34,041 Consumer loans 8,408 26 8 8,442 Commercial loans 91,930 11 525 92,466 Total $ 661,498 809 1,430 663,737 The following table presents the balance in the allowance for loan losses and the recorded investment in loans as of March 31, 2019 and December 31, 2018 by portfolio segment and based on the impairment method. Commercial Land Commercial Residential Consumer Total (Dollars in Thousands) March 31, 2019: Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ 122 15 — 12 91 $ 240 Collectively evaluated for impairment 463 1,171 1,533 1,080 66 4,313 Total ending allowance balance $ 585 1,186 1,533 1,092 157 4,553 Loans: Loans individually evaluated for impairment $ 5,654 152 9,462 273 363 $ 15,904 Loans collectively evaluated for impairment 87,436 55,316 298,403 206,403 7,697 655,294 Total ending loans balance $ 93,090 55,468 307,904 206,676 8,060 $ 671,198 Commercial Land Commercial Residential Consumer Total (Dollars in Thousands) December 31, 2018: Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ 141 — — 13 52 $ 206 Collectively evaluated for impairment 534 969 1,616 1,151 60 4,330 Total ending allowance balance $ 675 969 1,616 1,164 112 $ 4,536 Loans: Loans individually evaluated for impairment $ 3,593 — 9,174 274 208 $ 13,249 Loans collectively evaluated for impairment 88,873 50,875 293,324 209,182 8,234 650,488 Total ending loans balance $ 92,466 50,875 302,498 209,456 8,442 $ 663,737 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, 2019 were as follows: Pass Special Substandard Doubtful Total (Dollars in Thousands) One-to-four $ 173,575 — 699 — 174,274 Home equity line of credit 31,311 — 96 — 31,407 Junior liens 991 — 4 — 995 Multi-family 26,377 — — — 26,377 Construction 36,571 152 — — 36,723 Land 18,745 — — — 18,745 Non-residential 238,712 19 9,554 — 248,285 Farmland 33,011 231 — — 33,242 Consumer loans 7,697 — 363 — 8,060 Commercial loans 86,295 879 5,916 — 93,090 Total $ 653,285 1,281 16,632 — 671,198 Loans by classification type and credit risk indicator at December 31, 2018 were as follows: Pass Special Substandard Doubtful Total (Dollars in Thousands) One-to-four $ 174,973 — 665 — 175,638 Home equity line of credit 32,684 — 97 — 32,781 Junior liens 1,033 — 4 — 1,037 Multi-family 26,067 — — — 26,067 Construction 38,548 152 — — 38,700 Land 12,175 — — — 12,175 Non-residential 232,289 596 9,505 — 242,390 Farmland 33,808 233 — — 34,041 Consumer loans 8,233 — 209 — 8,442 Commercial loans 85,433 3,190 3,843 — 92,466 Total $ 645,243 4,171 14,323 — 663,737 Impaired loans by classification type and the related valuation allowance amounts at March 31, 2019 were as follows: For the three-month period At March 31, 2019 ended March 31, 2019 Recorded Unpaid Related Average Interest (Dollars in Thousands) Impaired loans with no specific allowance One-to-four $ — — — — — Home equity line of credit — — — — — Junior liens — — — — — Multi-family — — — — — Construction — — — — — Land — — — — — Non-residential 9,462 9,462 — 9,318 172 Farmland — — — — — Consumer loans — — — — — Commercial loans 5,533 5,533 — 4,492 89 Total 14,995 14,995 — 13,810 261 Impaired loans with a specific allowance One-to-four 273 273 13 273 2 Home equity line of credit — — — — — Junior liens — — — — — Multi-family — — — — — Construction 152 152 15 76 — Land — — — — — Non-residential — — — — — Farmland — — — — — Consumer loans 363 363 91 286 — Commercial loans 121 121 131 131 5 Total 909 909 240 766 7 Total $ 15,904 15,904 240 14,576 268 Impaired loans by classification type and the related valuation allowance amounts at December 31, 2018 were as follows: For the year ended At December 31, 2018 December 31, 2018 Unpaid Average Interest Recorded Principal Related Recorded Income Investment Balance Allowance Investment Recognized (Dollars in Thousands) Impaired loans with no specific allowance One-to-four $ — — — 710 27 Home equity line of credit — — — 261 4 Junior liens — — — 2 — Multi-family — — — — — Construction — — — — — Land — — — 312 — Non-residential 9,174 9,174 — 5,973 693 Farmland — — — 111 — Consumer loans — — — 5 — Commercial loans 3,452 3,452 — 2,333 234 Total 12,626 12,626 — 9,707 958 Impaired loans with a specific allowance One-to-four $ 274 274 13 55 12 Home equity line of credit — — — — — Junior liens — — — — — Multi-family — — — — — Construction — — — — — Land — — — — — Non-residential — — — 1,115 — Farmland — — — — — Consumer loans 208 208 52 284 — Commercial loans 141 141 141 793 23 Total 623 623 206 2,247 35 Total impaired loans $ 13,249 13,249 206 11,954 993 At March 31, 2019 non-accrual non-accrual non-accrual 03/31/2019 12/31/2018 (Dollars in Thousands) One-to-four $ 18 $ 62 Home equity lines of credit 96 98 Junior lien 4 4 Construction 152 152 Land — — Non-residential 322 581 Farmland — — Consumer loans 1 8 Commercial loans 471 525 Total non-accrual $ 1,064 $ 1,430 The following table provides the number of loans remaining in each category as of March 31, 2019 and December 31, 2018 that the Company had previously modified in a TDR: Number of Pre-Modification Post Modification March 31, 2019 Non-residential 3 $ 3,409,331 3,409,331 Commercial 3 192,905 192,905 December 31, 2018 Non-residential 3 $ 3,422,085 3,422,085 Commercial 2 $ 107,535 107,535 For the three-month period ended March 31, 2019, the Company identified one additional commercial loan as a TDR. The loan is secured by a Company’s accounts receivable. The TDR classification is the result of the borrower’s declining financial condition and substandard collateral position, prompting the Company to lengthen the amortization period of the loan to five years, which exceeds our standard amortization period of three years. There were no loans as of March 31, 2019 that have been modified as TDRs and that subsequently defaulted within twelve months on their modified terms. At March 31, 2019, there are no commitments to lend additional funds to any borrower whose loan terms have been modified in a TDR. |
Foreclosed Asset
Foreclosed Asset | 3 Months Ended |
Mar. 31, 2019 | |
Banking and Thrift [Abstract] | |
Foreclosed Asset | (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, 2019, the Company’s activity in foreclosed property included the following: Activity During Balance Reduction Gain (Loss) Balance 1/01/2019 Foreclosure Sales in Values on Sale 3/31/2019 (Dollars in Thousands) One-to-four $ 256 — (135 ) (37 ) 20 $ 104 Non-residential 142 — — — — 142 Land 3,200 — — — — 3,200 Total $ 3,598 — (135 ) (37 ) 20 $ 3,446 |
Fair Value of Assets and Liabil
Fair Value of Assets and Liabilities | 3 Months Ended |
Mar. 31, 2019 | |
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 fair values for investment securities available-for-sale Assets and Liabilities Measured on a Recurring Basis The assets and liabilities measured at fair value on a recurring basis at March 31, 2019 are summarized below: Description Total carrying Quoted Prices Significant Significant 3/31/2019 (Level 1) (Level 2) (Level 3) (Dollars in Thousands) Securities available for sale U.S. Treasury securities $ 4,933 4,933 — — U.S. Agency securities 78,383 — 78,383 — Tax-free 25,034 — 25,034 — Taxable municipals 954 — 954 — Mortgage backed securities 62,864 — 62,864 — Total $ 172,168 4,933 167,235 — The assets and liabilities measured at fair value on a recurring basis at December 31, 2018 are summarized below: Description Total carrying Quoted Prices Significant Significant 12/31/2018 (Level 1) (Level 2) (Level 3) (Dollars in Thousands) Securities available for sale U.S. Agency securities $ 80,349 — 80,349 — Tax-free 25,782 — 25,782 — Taxable municipals 954 — 954 — Mortgage backed securities 63,719 — 93,719 — Total $ 170,804 — 170,804 — The assets and liabilities measured at fair value on a non-recurring Description Total carrying Quoted Prices Significant Significant Assets (Dollars in Thousands) Foreclosed assets $ — — — $ — Impaired loans, net of allowance of $149 $ 398 — — $ 398 The assets and liabilities measured at fair value on a non-recurring Description Total carrying Quoted Prices Significant Significant Assets (Dollars in Thousands) Foreclosed assets $ — — — $ — Impaired loans, net of allowance of $154 $ 261 — — $ 261 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 ` Fair Valuation Technique Unobservable Input Quantitative Range (Dollars in Thousands) March 31, 2019 Assets measured on a non-recurring $ — Foreclosed assets Discount to appraised value Appraisal comparability 0% to 0 % Impaired loans 547 Discount to appraised value Appraisal comparability 10% to 50 % December 31, 2018 Assets measured on a non-recurring $ — Foreclosed assets Discount to appraised value Appraisal comparability — Impaired loans 415 Discount to appraised value Appraisal comparability 10% to 25 % The estimated fair values of financial instruments were as follows at March 31, 2019: Carrying Estimated In Active Markets Other Significant (Dollars in Thousands) Financial Assets: Cash and due from banks $ 35,052 35,052 35,052 — — Interest-bearing deposits 12,364 12,364 12,364 — — Securities available for sale 172,168 172,168 4,929 167,235 — Federal Home Loan Bank stock 4,428 4,428 — — 4,428 Loans held for sale 742 742 — 742 — Loans receivable 666,250 636,933 — — 636,933 Accrued interest receivable 3,666 3,666 — 3,666 — Financial liabilities: Deposits 741,827 741,290 — 741,290 — Advances from borrowers for taxes and insurance 914 914 — 914 — Advances from Federal Home Loan Bank 26,000 25,873 — 25,873 — Repurchase agreements 59,046 59,046 — 59,046 — Subordinated debentures 10,310 10,310 — 10,310 — The estimated fair values of financial instruments were as follows at December 31, 2018: Carrying Estimated Quoted Prices Using Significant Financial Assets: Cash and due from banks $ 36,339 36,339 36,339 — — Interest-bearing deposits in banks 15,711 15,711 15,711 — — Securities available for sale 4,428 4,428 — — 4,428 Federal Home Loan Bank stock 170,804 170,804 — 170,804 — Loans held for sale 1,248 1,248 — 1,248 — Loans receivable 658,782 627,956 — — 627,956 Accrued interest receivable 3,503 3,503 — — 3,503 Financial Liabilities: Deposits 739,837 739,573 — 739,573 — Advances from borrowers for taxes and insurance 1,279 1,279 — 1,279 — Advances from the Federal Home Loan Bank 33,000 32,830 — 32,830 — Repurchase agreements 53,011 53,011 — 53,011 — Subordinated debentures 10,310 10,310 — — 10,310 |
Effect of New Accounting Pronou
Effect of New Accounting Pronouncements | 3 Months Ended |
Mar. 31, 2019 | |
Accounting Changes and Error Corrections [Abstract] | |
Effect of New Accounting Pronouncements | (7) EFFECT OF NEW ACCOUNTING PRONOUNCEMENTS ASU 2016-02 Leases (Topic 842) 2016-02 right-of-use 2016-02 2016-02 On June 16, 2016, the FASB released its finalized ASU 2016-13, “Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments” available-for-sale. 2016-13 2016-13 2016-13. ASU 2017-08, “Receivables – Nonrefundable Fees and Other Cost” (Topic 310) 2017-08 non-contingent 2017-08 ASU 2018-02, Income Statement-Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income. 2018-02 ASU 2018-02 2018-02 ASU 2018-02 2018-02 2018-02 2018-02 ASU 2018-16, 2018-16 In August 2018, the FASB issued ASU No. 2018-13, “Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement.” No. 2018-13 No. 2018-13 Other accounting standards that have been issued or proposed by the FASB or other standards bodies are not expected to have a material impact on the Company’s financial position, results of operations or cash flows. Reclassifications Certain items in prior financial statements have been reclassified to conform to the current presentation. Reclassifications had no effect on prior year’s net income or shareholders’ equity. |
Income Taxes
Income Taxes | 3 Months Ended |
Mar. 31, 2019 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | (8) INCOME TAXES The Company files consolidated federal income tax returns and Tennessee excise tax returns. The Company also files consolidated Kentucky income tax returns. The Bank is exempt from Kentucky corporate income tax. The Company has no unrecognized tax benefits and has accrued any interest or penalties for uncertain tax positions. The effective tax rate differs from the statutory federal rate of 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, 2019, 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, 2019, the Company has $10.6 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, 2019, the Company’s investment portfolio includes $25.0 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, 2019 | |
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 may withdraw proceeds from the ESOP in the year after their employment with the Company is terminated. Former employees have the option of selling Company shares back into the ESOP or withdrawing shares. 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 fourth ESOP loan payment in December 2018. At March 31, 2019 and December 31, 2018, shares held by the ESOP were as follows: March 31, 2019 December 31, 2018 Accrued for allocation to participants Earned ESOP shares 226,508 215,510 Unearned ESOP shares 371,693 382,691 Total ESOP shares 598,201 598,201 Share price at end of period $ 19.70 $ 13.29 Fair value of unearned shares $ 7,322,352 $ 5,085,963 |
Commitments and Contingencies
Commitments and Contingencies | 3 Months Ended |
Mar. 31, 2019 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | (10) COMMITMENTS AND CONTINGENCIES At March 31, 2019, the Bank had $32.1 million in outstanding commitments on revolving home equity lines of credit, $20.0 million in outstanding commitments on revolving personal lines of credit and $38.9 million in commitments to originate loans and undisbursed commitments on commercial lines of credit of $46.5 million. At March 31, 2019, the Company had $1.0 million in commercial and standby letters of credit outstanding. At March 31, 2019, the Company has $48.8 million in times deposits greater than $250,000 that are scheduled to mature in one year or less. Management believes that a significant percentage of such deposits will remain with the Bank. The Bank’s FHLB borrowings are secured by a blanket security agreement pledging the Bank’s 1-4 non-residential 1-4 Outstanding Balance Rate Maturity (Dollars in Thousands, Except Percentages) 5,000 2.56 % 07/11/2019 5,000 1.73 % 01/10/2020 5,000 2.84 % 07/10/2020 5,000 1.92 % 10/06/2020 6,000 3.01 % 07/26/2023 $26,000 2.44 % A schedule of FHLB borrowings at December 31, 2018 is provided below: Outstanding Balance Rate Maturity (Dollars in Thousands, Except Percentages) 7,000 1.55 % 01/10/2019 5,000 2.56 % 07/11/2019 5,000 1.73 % 01/10/2020 5,000 2.84 % 07/10/2020 5,000 1.92 % 10/06/2020 6,000 3.01 % 07/26/2023 $33,000 2.25 % The Federal Home Loan Bank of Cincinnati has issued letters of credit in the Bank’s name totaling $49.6 million secured by the Bank’s loan portfolio to secure additional municipal deposits. 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. On January 7, 2019, the Company announced a definitive agreement to merge into and with First Financial Corporation of Terre Haute, Indiana. The proposed merger requires the Company’s shareholder approval. As a part of the merger agreement, the Company anticipates incurring additional pre-tax expenses to facilitate the merger. The expenses include a non-cash charge of approximately $244,000 for the accelerated vesting of restricted common stock, cash payment of approximately $2.7 million in change of control payments to senior executive officers and cash payments to Sandler O’Neil of approximately $1.0 million for their services as the Company’s investment banker. In addition to the expenses listed above, the Company will incur yet to be determined legal and professional fees as a part of the merger process. The Company anticipates that these expense items will be recognized once shareholder approval is received. |
Regulatory Matters
Regulatory Matters | 3 Months Ended |
Mar. 31, 2019 | |
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 increased each year until fully implemented at 2.5% on January 1, 2019. An institution is subject to limitations on paying dividends, engaging in share repurchases and paying discretionary bonuses if capital levels fall below minimum plus the buffer amounts. These limitations establish a maximum percentage of eligible retained income that could be utilized for such actions. Under these new rules, Tier 1 capital generally 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 Cumulative preferred stock and trust preferred securities issued after May 19, 2010 no longer qualify as Tier 1 capital, but such securities issued prior to May 19, 2010, including in the case of bank holding companies with less than $15.0 billion in total assets, trust preferred securities issued prior to that date, continue to count as Tier 1 capital subject to certain limitations. The definition of Tier 2 capital is generally unchanged for most banking organizations, subject to certain new eligibility criteria. The final rules allow banks and their holding companies with less than $250 billion in assets a one-time opt-out opt-out Actual Minimum Capital To be Well Amount Ratio Amount Ratio Amount Ratio (Dollars in Thousands, Except Percentages) As of March 31, 2019 Tier 1 leverage capital to adjusted total assets Company $ 101,051 11.0 % $ 36,665 4.0 % $ 45,832 5.0 % Bank $ 97,316 10.7 % $ 36,534 4.0 % $ 45,667 5.0 % Total capital to risk weighted assets Company $ 105,604 15.3 % $ 55,219 8.0 % $ 69,024 10.0 % Bank $ 101,868 14.8 % $ 55,107 8.0 % $ 68,884 10.0 % Tier 1 capital to risk weighted assets Company $ 101,051 14.6 % $ 41,414 6.0 % $ 55,219 8.0 % Bank $ 97,316 14.1 % $ 41,331 6.0 % $ 55,107 8.0 % Common equity tier 1 capital to risk weighted assets Company $ 101,051 14.6 % $ 31,061 4.5 % n/a n/a Bank $ 97,316 14.1 % $ 30,998 4.5 % $ 44,865 6.5 % As of December 31, 2018 Tier 1 leverage capital to adjusted total assets Company $ 100,520 11.0 % $ 36,417 4.0 % $ 45,521 5.0 % Bank $ 99,478 10.9 % $ 36,361 4.0 % $ 45,451 5.0 % Total capital to risk weighted assets Company $ 105,055 16.2 % $ 52.049 8.0 % $ 65,061 10.0 % Bank $ 104,014 16.0 % $ 51,937 8.0 % $ 64,922 10.0 % Tier 1 capital to risk weighted assets Company $ 100,520 15.5 % $ 39,037 6.0 % $ 52,049 8.0 % Bank $ 99,478 15.3 % $ 38,953 6.0 % $ 51,937 8.0 % Common equity tier 1 capital to risk weighted assets Company $ 100,520 15.5 % $ 29,277 4.5 % n/a n/a Bank $ 99,478 15.3 % $ 29,215 4.5 % $ 42,199 6.5 % |
Fair Value of Assets and Liab_2
Fair Value of Assets and Liabilities (Policies) | 3 Months Ended |
Mar. 31, 2019 | |
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 fair values for investment securities available-for-sale |
Leases | ASU 2016-02 Leases (Topic 842) 2016-02 right-of-use 2016-02 2016-02 |
Receivables - Nonrefundable Fees and Other Cost | ASU 2017-08, “Receivables – Nonrefundable Fees and Other Cost” (Topic 310) 2017-08 non-contingent 2017-08 |
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. 2018-02 ASU 2018-02 2018-02 ASU 2018-02 2018-02 2018-02 2018-02 |
Derivatives and Hedging | ASU 2018-16, 2018-16 |
Reclassifications | Reclassifications Certain items in prior financial statements have been reclassified to conform to the current presentation. Reclassifications had no effect on prior year’s net income or shareholders’ equity. |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Earnings Per Share [Abstract] | |
Reconciliation of Basic and Diluted Income (Loss) Per Share | For the three-month Periods 2019 2018 Basic EPS: Net income $ 623,000 $ 1,126,000 Average common shares outstanding 6,277,284 6,188,413 Earnings per share $ 0.10 $ 0.18 Diluted EPS Net income $ 623,000 $ 1,126,000 Average common shares outstanding 6,277,284 6,188,413 Dilutive effect of stock options — — Average diluted shares outstanding 6,277,284 6,188,413 Earnings per share, diluted $ 0.10 $ 0.18 |
Securities (Tables)
Securities (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
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, 2019 and December 31, 2018 were as follows: March 31, 2019 Amortized Gross Gross Estimated (Dollars in Thousands) Restricted: FHLB stock $ 4,428 — — 4,428 Available for sale: U.S. Treasury securities $ 4,929 4 — 4,933 U.S. Agency securities 78,663 442 (722 ) 78,383 Tax free municipal bonds 24,718 371 (55 ) 25,034 Taxable municipal bonds 955 2 (3 ) 954 Mortgage backed securities 63,320 112 (568 ) 62,864 $ 172,585 931 (1,348 ) 172,168 December 31, 2018 Amortized Gross Gross Estimated (Dollars in Thousands) Restricted: FHLB stock $ 4,428 — — 4,428 Available for sale: U.S. Agency securities 81,158 345 (1,154 ) 80,349 Tax free municipal bonds 25,753 181 (152 ) 25,782 Taxable municipal bonds 957 2 (5 ) 954 Mortgage-backed securities 64,909 56 (1,246 ) 63,719 $ 172,777 584 (2,557 ) 170,804 |
Maturities of Debt Securities Available for Sale | The scheduled maturities of debt securities available for sale at March 31, 2019 were as follows: Amortized Estimated (Dollars in Thousands) Due within one year $ 6,889 $ 6,897 Due in one to five years 28,310 28,163 Due in five to ten years 13,926 13,910 Due after ten years 14,890 15,260 Amortizing agency bonds 45,250 45,074 Mortgage-backed securities 63,320 62,864 $ 172,585 $ 172,168 |
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, 2019 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 $ 1,598 (16 ) 50,469 (706 ) 52,067 (722 ) Tax free municipal bonds — — 4,813 (55 ) 4,813 (55 ) Taxable municipal bonds — — 507 (3 ) 507 (3 ) Mortgage-backed securities 3,771 (1 ) 51,151 (567 ) 54,922 (568 ) Total available for sale $ 5,369 (17 ) 106,940 (1,331 ) 112,309 (1,348 ) The estimated fair value and unrealized loss amounts of temporarily impaired investments as of December 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 $ — — 54,441 (1,154 ) 54,441 (1,154 ) Tax free municipal bonds 1,465 (8 ) 5,619 (144 ) 7,084 (152 ) Taxable municipal bonds — — 507 (5 ) 507 (5 ) Mortgage-backed securities — — 54,548 (1,246 ) 54,548 (1,246 ) Total available for sale $ 1,465 (8 ) 115,115 (2,549 ) 116,580 (2,557 ) |
Loans (Tables)
Loans (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
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, 2019 and December 31, 2018. March 31, 2019 December 31, 2018 (Dollars in Thousands) Real estate loans: One-to-four $ 174,274 $ 175,638 Home equity lines of credit 31,407 32,781 Junior liens 995 1,037 Multi-family 26,377 26,067 Construction 36,723 38,700 Land 18,745 12,175 Non-residential 248,285 242,390 Farmland 33,242 34,041 Total mortgage loans 570,048 562,829 Consumer loans 8,060 8,442 Commercial loans 93,090 92,466 Total other loans 101,150 100,908 Total loans 671,198 663,737 Deferred loan fees, net of cost (395 ) (419 ) Less allowance for loan losses (4,553 ) (4,536 ) Loans receivable, net $ 666,250 $ 658,782 |
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, 2019: Balance Charge offs Recoveries Provision Ending (Dollars in Thousands) One-to-four $ 992 — 3 (60 ) 935 Home equity line of credit 168 — — (14 ) 154 Junior liens 4 — — — 4 Multi-family 172 — — (26 ) 146 Construction 171 — — — 171 Land 797 — — 218 1,015 Non-residential 1,293 — 2 (49 ) 1,246 Farmland 152 — — (11 ) 141 Consumer loans 112 (73 ) 18 100 157 Commercial loans 675 — 7 (98 ) 584 Total $ 4,536 (73 ) 30 60 4,553 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, 2018: Balance Charge offs Recoveries Provision Ending (Dollars in Thousands) One-to-four $ 747 (6 ) 13 238 992 Home equity line of credit 189 — 9 (30 ) 168 Junior liens 5 — — (1 ) 4 Multi-family 314 — — (142 ) 172 Construction 161 — — 10 171 Land 1,223 (40 ) — (386 ) 797 Non-residential 789 (23 ) 14 513 1,293 Farmland 367 (2 ) 1 (214 ) 152 Consumer loans 184 (329 ) 80 177 112 Commercial loans 847 (307 ) 12 123 675 Total $ 4,826 (707 ) 129 288 4,536 |
Gross Loan Balances Excluding Deferred Loan Fees by Loan Classification Allocated Between Past Due Performing and Non-accrual | The table below presents gross loan balance at March 31, 2019 by loan classification allocated between past due, performing and non-accrual: Currently 30 - 89 Non-accrual Total One-to-four 173,754 502 18 174,274 Home equity line of credit 31,158 153 96 31,407 Junior liens 991 — 4 995 Multi-family 26,377 — — 26,377 Construction 36,571 — 152 36,723 Land 18,745 — — 18,745 Non-residential 247,963 — 322 248,285 Farmland 32,667 575 — 33,242 Consumer loans 8,051 8 1 8,060 Commercial loans 91,918 701 471 93,090 Total 668,195 1,939 1,064 671,198 The table below presents gross loan balance at December 31, 2018 by loan classification allocated between past due, performing and non-accrual: Currently 30 – 89 Non-accrual Total One-to-four $ 174,962 614 62 $ 175,638 Home equity line of credit 32,525 158 98 32,781 Junior liens 1,033 — 4 1,037 Multi-family 26,067 — — 26,067 Construction 38,548 — 152 38,700 Land 12,175 — — 12,175 Non-residential 241,809 — 581 242,390 Farmland 34,041 — — 34,041 Consumer loans 8,408 26 8 8,442 Commercial loans 91,930 11 525 92,466 Total $ 661,498 809 1,430 663,737 |
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, 2019 and December 31, 2018 by portfolio segment and based on the impairment method. Commercial Land Commercial Residential Consumer Total (Dollars in Thousands) March 31, 2019: Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ 122 15 — 12 91 $ 240 Collectively evaluated for impairment 463 1,171 1,533 1,080 66 4,313 Total ending allowance balance $ 585 1,186 1,533 1,092 157 4,553 Loans: Loans individually evaluated for impairment $ 5,654 152 9,462 273 363 $ 15,904 Loans collectively evaluated for impairment 87,436 55,316 298,403 206,403 7,697 655,294 Total ending loans balance $ 93,090 55,468 307,904 206,676 8,060 $ 671,198 Commercial Land Commercial Residential Consumer Total (Dollars in Thousands) December 31, 2018: Allowance for loan losses: Ending allowance balance attributable to loans: Individually evaluated for impairment $ 141 — — 13 52 $ 206 Collectively evaluated for impairment 534 969 1,616 1,151 60 4,330 Total ending allowance balance $ 675 969 1,616 1,164 112 $ 4,536 Loans: Loans individually evaluated for impairment $ 3,593 — 9,174 274 208 $ 13,249 Loans collectively evaluated for impairment 88,873 50,875 293,324 209,182 8,234 650,488 Total ending loans balance $ 92,466 50,875 302,498 209,456 8,442 $ 663,737 |
Loans by Classification Type and Credit Risk Indicator | Loans by classification type and credit risk indicator at March 31, 2019 were as follows: Pass Special Substandard Doubtful Total (Dollars in Thousands) One-to-four $ 173,575 — 699 — 174,274 Home equity line of credit 31,311 — 96 — 31,407 Junior liens 991 — 4 — 995 Multi-family 26,377 — — — 26,377 Construction 36,571 152 — — 36,723 Land 18,745 — — — 18,745 Non-residential 238,712 19 9,554 — 248,285 Farmland 33,011 231 — — 33,242 Consumer loans 7,697 — 363 — 8,060 Commercial loans 86,295 879 5,916 — 93,090 Total $ 653,285 1,281 16,632 — 671,198 Loans by classification type and credit risk indicator at December 31, 2018 were as follows: Pass Special Substandard Doubtful Total (Dollars in Thousands) One-to-four $ 174,973 — 665 — 175,638 Home equity line of credit 32,684 — 97 — 32,781 Junior liens 1,033 — 4 — 1,037 Multi-family 26,067 — — — 26,067 Construction 38,548 152 — — 38,700 Land 12,175 — — — 12,175 Non-residential 232,289 596 9,505 — 242,390 Farmland 33,808 233 — — 34,041 Consumer loans 8,233 — 209 — 8,442 Commercial loans 85,433 3,190 3,843 — 92,466 Total $ 645,243 4,171 14,323 — 663,737 |
Impaired Loans by Classification Type | Impaired loans by classification type and the related valuation allowance amounts at March 31, 2019 were as follows: For the three-month period At March 31, 2019 ended March 31, 2019 Recorded Unpaid Related Average Interest (Dollars in Thousands) Impaired loans with no specific allowance One-to-four $ — — — — — Home equity line of credit — — — — — Junior liens — — — — — Multi-family — — — — — Construction — — — — — Land — — — — — Non-residential 9,462 9,462 — 9,318 172 Farmland — — — — — Consumer loans — — — — — Commercial loans 5,533 5,533 — 4,492 89 Total 14,995 14,995 — 13,810 261 Impaired loans with a specific allowance One-to-four 273 273 13 273 2 Home equity line of credit — — — — — Junior liens — — — — — Multi-family — — — — — Construction 152 152 15 76 — Land — — — — — Non-residential — — — — — Farmland — — — — — Consumer loans 363 363 91 286 — Commercial loans 121 121 131 131 5 Total 909 909 240 766 7 Total $ 15,904 15,904 240 14,576 268 Impaired loans by classification type and the related valuation allowance amounts at December 31, 2018 were as follows: For the year ended At December 31, 2018 December 31, 2018 Unpaid Average Interest Recorded Principal Related Recorded Income Investment Balance Allowance Investment Recognized (Dollars in Thousands) Impaired loans with no specific allowance One-to-four $ — — — 710 27 Home equity line of credit — — — 261 4 Junior liens — — — 2 — Multi-family — — — — — Construction — — — — — Land — — — 312 — Non-residential 9,174 9,174 — 5,973 693 Farmland — — — 111 — Consumer loans — — — 5 — Commercial loans 3,452 3,452 — 2,333 234 Total 12,626 12,626 — 9,707 958 Impaired loans with a specific allowance One-to-four $ 274 274 13 55 12 Home equity line of credit — — — — — Junior liens — — — — — Multi-family — — — — — Construction — — — — — Land — — — — — Non-residential — — — 1,115 — Farmland — — — — — Consumer loans 208 208 52 284 — Commercial loans 141 141 141 793 23 Total 623 623 206 2,247 35 Total impaired loans $ 13,249 13,249 206 11,954 993 |
Non-accrual Loans | At March 31, 2019 and December 31, 2018, the Company’s balances in non-accrual 03/31/2019 12/31/2018 (Dollars in Thousands) One-to-four $ 18 $ 62 Home equity lines of credit 96 98 Junior lien 4 4 Construction 152 152 Land — — Non-residential 322 581 Farmland — — Consumer loans 1 8 Commercial loans 471 525 Total non-accrual $ 1,064 $ 1,430 |
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, 2019 and December 31, 2018 that the Company had previously modified in a TDR: Number of Pre-Modification Post Modification March 31, 2019 Non-residential 3 $ 3,409,331 3,409,331 Commercial 3 192,905 192,905 December 31, 2018 Non-residential 3 $ 3,422,085 3,422,085 Commercial 2 $ 107,535 107,535 |
Foreclosed Asset (Tables)
Foreclosed Asset (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Banking and Thrift [Abstract] | |
Summary of Foreclosed Properties Activity | For the three-month period ended March 31, 2019, the Company’s activity in foreclosed property included the following: Activity During Balance Reduction Gain (Loss) Balance 1/01/2019 Foreclosure Sales in Values on Sale 3/31/2019 (Dollars in Thousands) One-to-four $ 256 — (135 ) (37 ) 20 $ 104 Non-residential 142 — — — — 142 Land 3,200 — — — — 3,200 Total $ 3,598 — (135 ) (37 ) 20 $ 3,446 |
Fair Value of Assets and Liab_3
Fair Value of Assets and Liabilities (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
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, 2019 are summarized below: Description Total carrying Quoted Prices Significant Significant 3/31/2019 (Level 1) (Level 2) (Level 3) (Dollars in Thousands) Securities available for sale U.S. Treasury securities $ 4,933 4,933 — — U.S. Agency securities 78,383 — 78,383 — Tax-free 25,034 — 25,034 — Taxable municipals 954 — 954 — Mortgage backed securities 62,864 — 62,864 — Total $ 172,168 4,933 167,235 — The assets and liabilities measured at fair value on a recurring basis at December 31, 2018 are summarized below: Description Total carrying Quoted Prices Significant Significant 12/31/2018 (Level 1) (Level 2) (Level 3) (Dollars in Thousands) Securities available for sale U.S. Agency securities $ 80,349 — 80,349 — Tax-free 25,782 — 25,782 — Taxable municipals 954 — 954 — Mortgage backed securities 63,719 — 93,719 — Total $ 170,804 — 170,804 — |
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 Assets (Dollars in Thousands) Foreclosed assets $ — — — $ — Impaired loans, net of allowance of $149 $ 398 — — $ 398 The assets and liabilities measured at fair value on a non-recurring Description Total carrying Quoted Prices Significant Significant Assets (Dollars in Thousands) Foreclosed assets $ — — — $ — Impaired loans, net of allowance of $154 $ 261 — — $ 261 |
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 ` Fair Valuation Technique Unobservable Input Quantitative Range (Dollars in Thousands) March 31, 2019 Assets measured on a non-recurring $ — Foreclosed assets Discount to appraised value Appraisal comparability 0% to 0 % Impaired loans 547 Discount to appraised value Appraisal comparability 10% to 50 % December 31, 2018 Assets measured on a non-recurring $ — Foreclosed assets Discount to appraised value Appraisal comparability — Impaired loans 415 Discount to appraised value Appraisal comparability 10% to 25 % |
Estimated Fair Values of Financial Instruments | The estimated fair values of financial instruments were as follows at March 31, 2019: Carrying Estimated In Active Markets Other Significant (Dollars in Thousands) Financial Assets: Cash and due from banks $ 35,052 35,052 35,052 — — Interest-bearing deposits 12,364 12,364 12,364 — — Securities available for sale 172,168 172,168 4,929 167,235 — Federal Home Loan Bank stock 4,428 4,428 — — 4,428 Loans held for sale 742 742 — 742 — Loans receivable 666,250 636,933 — — 636,933 Accrued interest receivable 3,666 3,666 — 3,666 — Financial liabilities: Deposits 741,827 741,290 — 741,290 — Advances from borrowers for taxes and insurance 914 914 — 914 — Advances from Federal Home Loan Bank 26,000 25,873 — 25,873 — Repurchase agreements 59,046 59,046 — 59,046 — Subordinated debentures 10,310 10,310 — 10,310 — The estimated fair values of financial instruments were as follows at December 31, 2018: Carrying Estimated Quoted Prices Using Significant Financial Assets: Cash and due from banks $ 36,339 36,339 36,339 — — Interest-bearing deposits in banks 15,711 15,711 15,711 — — Securities available for sale 4,428 4,428 — — 4,428 Federal Home Loan Bank stock 170,804 170,804 — 170,804 — Loans held for sale 1,248 1,248 — 1,248 — Loans receivable 658,782 627,956 — — 627,956 Accrued interest receivable 3,503 3,503 — — 3,503 Financial Liabilities: Deposits 739,837 739,573 — 739,573 — Advances from borrowers for taxes and insurance 1,279 1,279 — 1,279 — Advances from the Federal Home Loan Bank 33,000 32,830 — 32,830 — Repurchase agreements 53,011 53,011 — 53,011 — Subordinated debentures 10,310 10,310 — — 10,310 |
Esop (Tables)
Esop (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Text Block [Abstract] | |
Summary of Shares Held by Employee Stock Ownership Plan (ESOP) | At March 31, 2019 and December 31, 2018, shares held by the ESOP were as follows: March 31, 2019 December 31, 2018 Accrued for allocation to participants Earned ESOP shares 226,508 215,510 Unearned ESOP shares 371,693 382,691 Total ESOP shares 598,201 598,201 Share price at end of period $ 19.70 $ 13.29 Fair value of unearned shares $ 7,322,352 $ 5,085,963 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule of FHLB Borrowings | A schedule of FHLB borrowings at March 31, 2019 is provided below: Outstanding Balance Rate Maturity (Dollars in Thousands, Except Percentages) 5,000 2.56 % 07/11/2019 5,000 1.73 % 01/10/2020 5,000 2.84 % 07/10/2020 5,000 1.92 % 10/06/2020 6,000 3.01 % 07/26/2023 $26,000 2.44 % A schedule of FHLB borrowings at December 31, 2018 is provided below: Outstanding Balance Rate Maturity (Dollars in Thousands, Except Percentages) 7,000 1.55 % 01/10/2019 5,000 2.56 % 07/11/2019 5,000 1.73 % 01/10/2020 5,000 2.84 % 07/10/2020 5,000 1.92 % 10/06/2020 6,000 3.01 % 07/26/2023 $33,000 2.25 % |
Regulatory Matters (Tables)
Regulatory Matters (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
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, 2019 and December 31, 2018 are presented below: Actual Minimum Capital To be Well Amount Ratio Amount Ratio Amount Ratio (Dollars in Thousands, Except Percentages) As of March 31, 2019 Tier 1 leverage capital to adjusted total assets Company $ 101,051 11.0 % $ 36,665 4.0 % $ 45,832 5.0 % Bank $ 97,316 10.7 % $ 36,534 4.0 % $ 45,667 5.0 % Total capital to risk weighted assets Company $ 105,604 15.3 % $ 55,219 8.0 % $ 69,024 10.0 % Bank $ 101,868 14.8 % $ 55,107 8.0 % $ 68,884 10.0 % Tier 1 capital to risk weighted assets Company $ 101,051 14.6 % $ 41,414 6.0 % $ 55,219 8.0 % Bank $ 97,316 14.1 % $ 41,331 6.0 % $ 55,107 8.0 % Common equity tier 1 capital to risk weighted assets Company $ 101,051 14.6 % $ 31,061 4.5 % n/a n/a Bank $ 97,316 14.1 % $ 30,998 4.5 % $ 44,865 6.5 % As of December 31, 2018 Tier 1 leverage capital to adjusted total assets Company $ 100,520 11.0 % $ 36,417 4.0 % $ 45,521 5.0 % Bank $ 99,478 10.9 % $ 36,361 4.0 % $ 45,451 5.0 % Total capital to risk weighted assets Company $ 105,055 16.2 % $ 52.049 8.0 % $ 65,061 10.0 % Bank $ 104,014 16.0 % $ 51,937 8.0 % $ 64,922 10.0 % Tier 1 capital to risk weighted assets Company $ 100,520 15.5 % $ 39,037 6.0 % $ 52,049 8.0 % Bank $ 99,478 15.3 % $ 38,953 6.0 % $ 51,937 8.0 % Common equity tier 1 capital to risk weighted assets Company $ 100,520 15.5 % $ 29,277 4.5 % n/a n/a Bank $ 99,478 15.3 % $ 29,215 4.5 % $ 42,199 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, 2019 | Mar. 31, 2018 | |
Basic EPS: | ||
Net income | $ 623,000 | $ 1,126,000 |
Average common shares outstanding | 6,277,284 | 6,188,413 |
Earnings per share | $ 0.10 | $ 0.18 |
Diluted EPS | ||
Net income | $ 623,000 | $ 1,126,000 |
Average common shares outstanding | 6,277,284 | 6,188,413 |
Dilutive effect of stock options | 0 | 0 |
Average diluted shares outstanding | 6,277,284 | 6,188,413 |
Earnings per share, diluted | $ 0.10 | $ 0.18 |
Securities - Amortized Cost of
Securities - Amortized Cost of Securities and their Estimated Fair Values (Detail) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Debt Securities, Available-for-sale [Line Items] | ||
FHLB stock | $ 4,428 | $ 4,428 |
FHLB stock | 0 | 0 |
Amortized Cost | 172,585 | 172,777 |
Gross Unrealized Gains | 931 | 584 |
Gross Unrealized Losses | (1,348) | (2,557) |
Estimated Fair Value | 172,168 | 170,804 |
Estimated Fair Value, Less than 12 months | 5,369 | 1,465 |
Unrealized Losses, Less than 12 months | (17) | (8) |
Estimated Fair Value, 12 months or longer | 106,940 | 115,115 |
Unrealized Losses, 12 months or longer | (1,331) | (2,549) |
Estimated Fair Value | 112,309 | 116,580 |
Unrealized Losses | (1,348) | (2,557) |
U.S. Treasury Securities [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | 4,929 | |
Gross Unrealized Gains | 4 | |
Estimated Fair Value | 4,933 | |
U.S. Agency Securities [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | 78,663 | 81,158 |
Gross Unrealized Gains | 442 | 345 |
Gross Unrealized Losses | (722) | (1,154) |
Estimated Fair Value | 78,383 | 80,349 |
U.S. Agency Securities [Member] | Temporarily Impaired Securities [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Estimated Fair Value, Less than 12 months | 1,598 | |
Unrealized Losses, Less than 12 months | (16) | |
Estimated Fair Value, 12 months or longer | 50,469 | 54,441 |
Unrealized Losses, 12 months or longer | (706) | (1,154) |
Estimated Fair Value | 52,067 | 54,441 |
Unrealized Losses | (722) | (1,154) |
Tax Free Municipal Bonds [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | 24,718 | 25,753 |
Gross Unrealized Gains | 371 | 181 |
Gross Unrealized Losses | (55) | (152) |
Estimated Fair Value | 25,034 | 25,782 |
Tax Free Municipal Bonds [Member] | Temporarily Impaired Securities [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Estimated Fair Value, Less than 12 months | 1,465 | |
Unrealized Losses, Less than 12 months | (8) | |
Estimated Fair Value, 12 months or longer | 4,813 | 5,619 |
Unrealized Losses, 12 months or longer | (55) | (144) |
Estimated Fair Value | 4,813 | 7,084 |
Unrealized Losses | (55) | (152) |
Taxable Municipals Bonds [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | 955 | 957 |
Gross Unrealized Gains | 2 | 2 |
Gross Unrealized Losses | (3) | (5) |
Estimated Fair Value | 954 | 954 |
Taxable Municipals Bonds [Member] | Temporarily Impaired Securities [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Estimated Fair Value, 12 months or longer | 507 | 507 |
Unrealized Losses, 12 months or longer | (3) | (5) |
Estimated Fair Value | 507 | 507 |
Unrealized Losses | (3) | (5) |
Mortgage-Backed Securities [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | 63,320 | 64,909 |
Gross Unrealized Gains | 112 | 56 |
Gross Unrealized Losses | (568) | (1,246) |
Estimated Fair Value | 62,864 | 63,719 |
Mortgage-Backed Securities [Member] | Temporarily Impaired Securities [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Estimated Fair Value, Less than 12 months | 3,771 | |
Unrealized Losses, Less than 12 months | (1) | |
Estimated Fair Value, 12 months or longer | 51,151 | 54,548 |
Unrealized Losses, 12 months or longer | (567) | (1,246) |
Estimated Fair Value | 54,922 | 54,548 |
Unrealized Losses | $ (568) | $ (1,246) |
Securities - Maturities of Debt
Securities - Maturities of Debt Securities Available for Sale (Detail) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Debt Securities, Available-for-sale [Line Items] | ||
Amortized cost of debt securities available for sale, due within one year | $ 6,889 | |
Amortized cost of debt securities available for sale, due in one to five years | 28,310 | |
Amortized cost of debt securities available for sale, due in five to ten years | 13,926 | |
Amortized cost of debt securities available for sale, due after ten years | 14,890 | |
Amortized Cost | 172,585 | $ 172,777 |
Estimated fair value of debt securities available for sale, due within one year | 6,897 | |
Estimated fair value of debt securities available for sale, due in one to five years | 28,163 | |
Estimated fair value of debt securities available for sale, due in five to ten years | 13,910 | |
Estimated fair value of debt securities available for sale, due after ten years | 15,260 | |
Total unrestricted securities available for sale at estimated fair value | 172,168 | 170,804 |
Amortizing Agency Bonds [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Total amortized cost of debt securities available for sale without specific maturities | 45,250 | |
Total estimated fair value of debt securities available for sale without specific maturities | 45,074 | |
Mortgage-Backed Securities [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Total amortized cost of debt securities available for sale without specific maturities | 63,320 | |
Amortized Cost | 63,320 | 64,909 |
Total estimated fair value of debt securities available for sale without specific maturities | 62,864 | |
Total unrestricted securities available for sale at estimated fair value | $ 62,864 | $ 63,719 |
Securities - Additional Informa
Securities - Additional Information (Detail) $ in Millions | Mar. 31, 2019USD ($)Securities | Dec. 31, 2018USD ($) |
Debt Securities, Available-for-sale [Line Items] | ||
Number of securities with unrealized losses | Securities | 82 | |
Securities pledged to municipalities for deposits in excess of FDIC limits, book value | $ 96 | $ 96.5 |
Securities pledged to municipalities for deposits in excess of FDIC limits, market value | 97.1 | 96.9 |
Overnight [Member] | ||
Debt Securities, Available-for-sale [Line Items] | ||
Securities with a fair market value sold under agreements | $ 59 | $ 53 |
Loans - Additional Information
Loans - Additional Information (Detail) | 3 Months Ended | |
Mar. 31, 2019USD ($) | Dec. 31, 2018USD ($) | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Non-accrual loans | $ 1,064,000 | $ 1,430,000 |
Total loans past due more than 90 days and still accruing interest | $ 0 | 0 |
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 | |
Impaired Loans Substandard [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Non-accrual loans | $ 1,100,000 | $ 1,400,000 |
Non-accrual loans as percent of total loans | 0.16% | 0.22% |
Consumer Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Non-accrual loans | $ 1,000 | $ 8,000 |
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 | $ 471,000 | 525,000 |
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] | 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] | ||
Non-accrual loans | $ 18,000 | 62,000 |
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 | $ 96,000 | 98,000 |
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 | |
Non-accrual loans | $ 152,000 | 152,000 |
Construction [Member] | Minimum [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable maturity period | 12 months | |
Construction [Member] | Maximum [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable maturity period | 24 months | |
Recreational Land Development Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans amortization period | 20 years | |
Recreational Land Development Loans [Member] | Minimum [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Fixed rate of interest period | 1 year | |
Recreational Land Development Loans [Member] | Maximum [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Fixed rate of interest period | 5 years | |
Farmland [Member] | Minimum [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Fixed rate of interest period | 5 years | |
Farmland [Member] | Maximum [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable maturity period | 20 years | |
Fixed rate of interest period | 10 years | |
Non-Residential Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans receivable maturity period | 20 years | |
Non-accrual loans | $ 322,000 | $ 581,000 |
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 | 84.90% | 84.80% |
Loans - Composition of Loan Por
Loans - Composition of Loan Portfolio By Type of Loan (Detail) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Real estate loans: | ||
Total loans, gross | $ 671,198 | $ 663,737 |
Deferred loan fees, net of cost | (395) | (419) |
Less allowance for loan losses | (4,553) | (4,536) |
Loans receivable, net | 666,250 | 658,782 |
Multi-Family [Member] | ||
Real estate loans: | ||
Total loans, gross | 26,377 | 26,067 |
Consumer Loans [Member] | ||
Real estate loans: | ||
Total loans, gross | 8,060 | 8,442 |
Less allowance for loan losses | (157) | (112) |
Commercial Loans [Member] | ||
Real estate loans: | ||
Total loans, gross | 93,090 | 92,466 |
Less allowance for loan losses | (585) | (675) |
Junior Liens [Member] | ||
Real estate loans: | ||
Total loans, gross | 995 | 1,037 |
Real Estate Loans [Member] | ||
Real estate loans: | ||
Total loans, gross | 570,048 | 562,829 |
Real Estate Loans [Member] | Multi-Family [Member] | ||
Real estate loans: | ||
Total loans, gross | 26,377 | 26,067 |
Real Estate Loans [Member] | One-to-Four Family Mortgages [Member] | ||
Real estate loans: | ||
Total loans, gross | 174,274 | 175,638 |
Real Estate Loans [Member] | Home Equity Line of Credit [Member] | ||
Real estate loans: | ||
Total loans, gross | 31,407 | 32,781 |
Real Estate Loans [Member] | Construction [Member] | ||
Real estate loans: | ||
Total loans, gross | 36,723 | 38,700 |
Real Estate Loans [Member] | Land [Member] | ||
Real estate loans: | ||
Total loans, gross | 18,745 | 12,175 |
Real Estate Loans [Member] | Non-Residential Real Estate [Member] | ||
Real estate loans: | ||
Total loans, gross | 248,285 | 242,390 |
Real Estate Loans [Member] | Farmland [Member] | ||
Real estate loans: | ||
Total loans, gross | 33,242 | 34,041 |
Real Estate Loans [Member] | Junior Liens [Member] | ||
Real estate loans: | ||
Total loans, gross | 995 | 1,037 |
Total Other Loans [Member] | ||
Real estate loans: | ||
Total loans, gross | 101,150 | 100,908 |
Total Other Loans [Member] | Consumer Loans [Member] | ||
Real estate loans: | ||
Total loans, gross | 8,060 | 8,442 |
Total Other Loans [Member] | Commercial Loans [Member] | ||
Real estate loans: | ||
Total loans, gross | $ 93,090 | $ 92,466 |
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, 2019 | Mar. 31, 2018 | Dec. 31, 2018 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning balance | $ 4,536 | $ 4,826 | $ 4,826 |
Charge off | (73) | (707) | |
Recoveries | 30 | 129 | |
Provision for Loan Loss | 60 | 68 | 288 |
Ending balance | 4,553 | 4,536 | |
Multi-Family [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning balance | 172 | 314 | 314 |
Provision for Loan Loss | (26) | (142) | |
Ending balance | 146 | 172 | |
One-to-Four Family Mortgages [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning balance | 992 | 747 | 747 |
Charge off | (6) | ||
Recoveries | 3 | 13 | |
Provision for Loan Loss | (60) | 238 | |
Ending balance | 935 | 992 | |
Home Equity Line of Credit [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning balance | 168 | 189 | 189 |
Recoveries | 9 | ||
Provision for Loan Loss | (14) | (30) | |
Ending balance | 154 | 168 | |
Construction [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning balance | 171 | 161 | 161 |
Provision for Loan Loss | 10 | ||
Ending balance | 171 | 171 | |
Land [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning balance | 797 | 1,223 | 1,223 |
Charge off | (40) | ||
Provision for Loan Loss | 218 | (386) | |
Ending balance | 1,015 | 797 | |
Non-Residential Real Estate [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning balance | 1,293 | 789 | 789 |
Charge off | (23) | ||
Recoveries | 2 | 14 | |
Provision for Loan Loss | (49) | 513 | |
Ending balance | 1,246 | 1,293 | |
Farmland [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning balance | 152 | 367 | 367 |
Charge off | (2) | ||
Recoveries | 1 | ||
Provision for Loan Loss | (11) | (214) | |
Ending balance | 141 | 152 | |
Junior Liens [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning balance | 4 | 5 | 5 |
Provision for Loan Loss | (1) | ||
Ending balance | 4 | 4 | |
Consumer Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning balance | 112 | 184 | 184 |
Charge off | (73) | (329) | |
Recoveries | 18 | 80 | |
Provision for Loan Loss | 100 | 177 | |
Ending balance | 157 | 112 | |
Commercial Loans [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Beginning balance | 675 | $ 847 | 847 |
Charge off | (307) | ||
Recoveries | 7 | 12 | |
Provision for Loan Loss | (98) | 123 | |
Ending balance | $ 584 | $ 675 |
Loans - Loan Balances by Loan C
Loans - Loan Balances by Loan Classification Allocated Between Past Due Performing and Non-performing (Detail) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Currently Performing | $ 668,195 | $ 661,498 |
30 - 89 Days Past Due | 1,939 | 809 |
Non-accrual loans | 1,064 | 1,430 |
Total loans, gross | 671,198 | 663,737 |
Multi-Family [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Currently Performing | 26,377 | 26,067 |
Total loans, gross | 26,377 | 26,067 |
One-to-Four Family Mortgages [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Currently Performing | 173,754 | 174,962 |
30 - 89 Days Past Due | 502 | 614 |
Non-accrual loans | 18 | 62 |
Total loans, gross | 174,274 | 175,638 |
Home Equity Line of Credit [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Currently Performing | 31,158 | 32,525 |
30 - 89 Days Past Due | 153 | 158 |
Non-accrual loans | 96 | 98 |
Total loans, gross | 31,407 | 32,781 |
Construction [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Currently Performing | 36,571 | 38,548 |
Non-accrual loans | 152 | 152 |
Total loans, gross | 36,723 | 38,700 |
Land [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Currently Performing | 18,745 | 12,175 |
Total loans, gross | 18,745 | 12,175 |
Non-Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Currently Performing | 247,963 | 241,809 |
Non-accrual loans | 322 | 581 |
Total loans, gross | 248,285 | 242,390 |
Farmland [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Currently Performing | 32,667 | 34,041 |
30 - 89 Days Past Due | 575 | |
Total loans, gross | 33,242 | 34,041 |
Junior Liens [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Currently Performing | 991 | 1,033 |
Non-accrual loans | 4 | 4 |
Total loans, gross | 995 | 1,037 |
Consumer Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Currently Performing | 8,051 | 8,408 |
30 - 89 Days Past Due | 8 | 26 |
Non-accrual loans | 1 | 8 |
Total loans, gross | 8,060 | 8,442 |
Commercial Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Currently Performing | 91,918 | 91,930 |
30 - 89 Days Past Due | 701 | 11 |
Non-accrual loans | 471 | 525 |
Total loans, gross | $ 93,090 | $ 92,466 |
Loans - Allowance for Loan Lo_2
Loans - Allowance for Loan Losses and Recorded Investment in Loans by Portfolio Segment and Impairment Method (Detail) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Individually evaluated for impairment | $ 240 | $ 206 |
Collectively evaluated for impairment | 4,313 | 4,330 |
Total ending allowance balance | 4,553 | 4,536 |
Loans individually evaluated for impairment | 15,904 | 13,249 |
Loans collectively evaluated for impairment | 655,294 | 650,488 |
Total ending loans balance | 671,198 | 663,737 |
Commercial Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Individually evaluated for impairment | 122 | 141 |
Collectively evaluated for impairment | 463 | 534 |
Total ending allowance balance | 585 | 675 |
Loans individually evaluated for impairment | 5,654 | 3,593 |
Loans collectively evaluated for impairment | 87,436 | 88,873 |
Total ending loans balance | 93,090 | 92,466 |
Land Development/Construction [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Individually evaluated for impairment | 15 | |
Collectively evaluated for impairment | 1,171 | 969 |
Total ending allowance balance | 1,186 | 969 |
Loans individually evaluated for impairment | 152 | |
Loans collectively evaluated for impairment | 55,316 | 50,875 |
Total ending loans balance | 55,468 | 50,875 |
Commercial Real Estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Collectively evaluated for impairment | 1,533 | 1,616 |
Total ending allowance balance | 1,533 | 1,616 |
Loans individually evaluated for impairment | 9,462 | 9,174 |
Loans collectively evaluated for impairment | 298,403 | 293,324 |
Total ending loans balance | 307,904 | 302,498 |
Residential Real Estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Individually evaluated for impairment | 12 | 13 |
Collectively evaluated for impairment | 1,080 | 1,151 |
Total ending allowance balance | 1,092 | 1,164 |
Loans individually evaluated for impairment | 273 | 274 |
Loans collectively evaluated for impairment | 206,403 | 209,182 |
Total ending loans balance | 206,676 | 209,456 |
Consumer Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Individually evaluated for impairment | 91 | 52 |
Collectively evaluated for impairment | 66 | 60 |
Total ending allowance balance | 157 | 112 |
Loans individually evaluated for impairment | 363 | 208 |
Loans collectively evaluated for impairment | 7,697 | 8,234 |
Total ending loans balance | $ 8,060 | $ 8,442 |
Loans - Loans by Classification
Loans - Loans by Classification Type and Credit Risk Indicator (Detail) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | $ 671,198 | $ 663,737 |
Multi-Family [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 26,377 | 26,067 |
One-to-Four Family Mortgages [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 174,274 | 175,638 |
Home Equity Line of Credit [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 31,407 | 32,781 |
Construction [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 36,723 | 38,700 |
Land [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 18,745 | 12,175 |
Non-Residential Real Estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 248,285 | 242,390 |
Farmland [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 33,242 | 34,041 |
Junior Liens [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 995 | 1,037 |
Consumer Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 8,060 | 8,442 |
Commercial Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 93,090 | 92,466 |
Pass [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 653,285 | 645,243 |
Pass [Member] | Multi-Family [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 26,377 | 26,067 |
Pass [Member] | One-to-Four Family Mortgages [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 173,575 | 174,973 |
Pass [Member] | Home Equity Line of Credit [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 31,311 | 32,684 |
Pass [Member] | Construction [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 36,571 | 38,548 |
Pass [Member] | Land [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 18,745 | 12,175 |
Pass [Member] | Non-Residential Real Estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 238,712 | 232,289 |
Pass [Member] | Farmland [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 33,011 | 33,808 |
Pass [Member] | Junior Liens [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 991 | 1,033 |
Pass [Member] | Consumer Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 7,697 | 8,233 |
Pass [Member] | Commercial Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 86,295 | 85,433 |
Special Mention [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 1,281 | 4,171 |
Special Mention [Member] | Construction [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 152 | 152 |
Special Mention [Member] | Non-Residential Real Estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 19 | 596 |
Special Mention [Member] | Farmland [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 231 | 233 |
Special Mention [Member] | Commercial Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 879 | 3,190 |
Impaired Loans Substandard [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 16,632 | 14,323 |
Impaired Loans Substandard [Member] | One-to-Four Family Mortgages [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 699 | 665 |
Impaired Loans Substandard [Member] | Home Equity Line of Credit [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 96 | 97 |
Impaired Loans Substandard [Member] | Non-Residential Real Estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 9,554 | 9,505 |
Impaired Loans Substandard [Member] | Junior Liens [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 4 | 4 |
Impaired Loans Substandard [Member] | Consumer Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | 363 | 209 |
Impaired Loans Substandard [Member] | Commercial Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Total | $ 5,916 | $ 3,843 |
Loans - Impaired Loans by Class
Loans - Impaired Loans by Classification Type (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2019 | Dec. 31, 2018 | |
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment | $ 14,995 | $ 12,626 |
Total Recorded Investment | 15,904 | 13,249 |
Unpaid Principal Balance | 14,995 | 12,626 |
Total Unpaid Principal Balance | 15,904 | 13,249 |
Related Allowance | 0 | 0 |
Average Recorded Investment | 13,810 | 9,707 |
Interest Income Recognized | 261 | 958 |
Recorded Investment | 909 | 623 |
Unpaid Principal Balance | 909 | 623 |
Related Allowance | 240 | 206 |
Average Recorded Investment | 766 | 2,247 |
Total Average Recorded Investment | 14,576 | 11,954 |
Interest Income Recognized | 7 | 35 |
Total Interest Income Recognized | 268 | 993 |
Multi-Family [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Related Allowance | 0 | 0 |
One-to-Four Family Mortgages [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Related Allowance | 0 | 0 |
Average Recorded Investment | 710 | |
Interest Income Recognized | 27 | |
Recorded Investment | 273 | 274 |
Unpaid Principal Balance | 273 | 274 |
Related Allowance | 13 | 13 |
Average Recorded Investment | 273 | 55 |
Interest Income Recognized | 2 | 12 |
Home Equity Line of Credit [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Related Allowance | 0 | 0 |
Average Recorded Investment | 261 | |
Interest Income Recognized | 4 | |
Construction [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Related Allowance | 0 | 0 |
Recorded Investment | 152 | |
Unpaid Principal Balance | 152 | |
Related Allowance | 15 | |
Average Recorded Investment | 76 | |
Land [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Related Allowance | 0 | 0 |
Average Recorded Investment | 312 | |
Non-Residential Real Estate [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment | 9,462 | 9,174 |
Unpaid Principal Balance | 9,462 | 9,174 |
Related Allowance | 0 | 0 |
Average Recorded Investment | 9,318 | 5,973 |
Interest Income Recognized | 172 | 693 |
Average Recorded Investment | 1,115 | |
Farmland [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Related Allowance | 0 | 0 |
Average Recorded Investment | 111 | |
Junior Liens [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Related Allowance | 0 | 0 |
Average Recorded Investment | 2 | |
Consumer Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Related Allowance | 0 | 0 |
Average Recorded Investment | 5 | |
Recorded Investment | 363 | 208 |
Unpaid Principal Balance | 363 | 208 |
Related Allowance | 91 | 52 |
Average Recorded Investment | 286 | 284 |
Commercial Loans [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment | 5,533 | 3,452 |
Unpaid Principal Balance | 5,533 | 3,452 |
Related Allowance | 0 | 0 |
Average Recorded Investment | 4,492 | 2,333 |
Interest Income Recognized | 89 | 234 |
Recorded Investment | 121 | 141 |
Unpaid Principal Balance | 121 | 141 |
Related Allowance | 131 | 141 |
Average Recorded Investment | 131 | 793 |
Interest Income Recognized | $ 5 | $ 23 |
Loans - Summary of Non-accrual
Loans - Summary of Non-accrual Loans by Loan Type (Detail) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-accrual loans | $ 1,064 | $ 1,430 |
One-to-Four Family Mortgages [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-accrual loans | 18 | 62 |
Home Equity Line of Credit [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-accrual loans | 96 | 98 |
Construction [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-accrual loans | 152 | 152 |
Non-Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-accrual loans | 322 | 581 |
Junior Liens [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-accrual loans | 4 | 4 |
Consumer Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-accrual loans | 1 | 8 |
Commercial Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Non-accrual loans | $ 471 | $ 525 |
Loans - Summary of the Activity
Loans - Summary of the Activity in Loans Classified as TDRs (Detail) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2019USD ($)Contracts | Dec. 31, 2018USD ($)Contracts | |
Non-Residential Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | Contracts | 3 | 3 |
Pre-Modification Outstanding Record Investment | $ 3,409,331 | $ 3,422,085 |
Post Modification Outstanding Record Investment, net of related allowance | $ 3,409,331 | $ 3,422,085 |
Commercial Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Loans | Contracts | 3 | 2 |
Pre-Modification Outstanding Record Investment | $ 192,905 | $ 107,535 |
Post Modification Outstanding Record Investment, net of related allowance | $ 192,905 | $ 107,535 |
Foreclosed Assets - Additional
Foreclosed Assets - Additional Information (Detail) | 3 Months Ended |
Mar. 31, 2019USD ($) | |
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) $ in Thousands | 3 Months Ended |
Mar. 31, 2019USD ($) | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Beginning Balance | $ 3,598 |
Foreclosure | 0 |
Sales | (135) |
Reduction in Values | (37) |
Gain (Loss) on Sale | 20 |
Ending Balance | 3,446 |
One-to-Four Family Mortgages [Member] | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Beginning Balance | 256 |
Foreclosure | 0 |
Sales | (135) |
Reduction in Values | (37) |
Gain (Loss) on Sale | 20 |
Ending Balance | 104 |
Non-Residential Real Estate [Member] | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Beginning Balance | 142 |
Foreclosure | 0 |
Ending Balance | 142 |
Land [Member] | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Beginning Balance | 3,200 |
Foreclosure | 0 |
Ending Balance | $ 3,200 |
Fair Value of Assets and Liab_4
Fair Value of Assets and Liabilities - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Detail) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Fair Value Assets Liabilities Measured On Recurring Basis [Line Items] | ||
Securities available for sale | $ 172,168 | $ 170,804 |
U.S. Treasury Securities [Member] | ||
Fair Value Assets Liabilities Measured On Recurring Basis [Line Items] | ||
Securities available for sale | 4,933 | |
U.S. Agency Securities [Member] | ||
Fair Value Assets Liabilities Measured On Recurring Basis [Line Items] | ||
Securities available for sale | 78,383 | 80,349 |
Tax Free Municipal Bonds [Member] | ||
Fair Value Assets Liabilities Measured On Recurring Basis [Line Items] | ||
Securities available for sale | 25,034 | 25,782 |
Taxable Municipals Bonds [Member] | ||
Fair Value Assets Liabilities Measured On Recurring Basis [Line Items] | ||
Securities available for sale | 954 | 954 |
Mortgage-Backed Securities [Member] | ||
Fair Value Assets Liabilities Measured On Recurring Basis [Line Items] | ||
Securities available for sale | 62,864 | 63,719 |
Fair Value, Measurements, Recurring [Member] | ||
Fair Value Assets Liabilities Measured On Recurring Basis [Line Items] | ||
Securities available for sale | 172,168 | 170,804 |
Fair Value, Measurements, Recurring [Member] | U.S. Treasury Securities [Member] | ||
Fair Value Assets Liabilities Measured On Recurring Basis [Line Items] | ||
Securities available for sale | 4,933 | |
Fair Value, Measurements, Recurring [Member] | U.S. Agency Securities [Member] | ||
Fair Value Assets Liabilities Measured On Recurring Basis [Line Items] | ||
Securities available for sale | 78,383 | 80,349 |
Fair Value, Measurements, Recurring [Member] | Tax Free Municipal Bonds [Member] | ||
Fair Value Assets Liabilities Measured On Recurring Basis [Line Items] | ||
Securities available for sale | 25,034 | 25,782 |
Fair Value, Measurements, Recurring [Member] | Taxable Municipals Bonds [Member] | ||
Fair Value Assets Liabilities Measured On Recurring Basis [Line Items] | ||
Securities available for sale | 954 | 954 |
Fair Value, Measurements, Recurring [Member] | Mortgage-Backed Securities [Member] | ||
Fair Value Assets Liabilities Measured On Recurring Basis [Line Items] | ||
Securities available for sale | 62,864 | 63,719 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Fair Value Assets Liabilities Measured On Recurring Basis [Line Items] | ||
Securities available for sale | 4,929 | |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value Assets Liabilities Measured On Recurring Basis [Line Items] | ||
Securities available for sale | 4,933 | |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Fair Value, Measurements, Recurring [Member] | U.S. Treasury Securities [Member] | ||
Fair Value Assets Liabilities Measured On Recurring Basis [Line Items] | ||
Securities available for sale | 4,933 | |
Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value Assets Liabilities Measured On Recurring Basis [Line Items] | ||
Securities available for sale | 167,235 | |
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 | 167,235 | 170,804 |
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 | 78,383 | 80,349 |
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 | 25,034 | 25,782 |
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 | 954 | 954 |
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 | $ 62,864 | $ 93,719 |
Fair Value of Assets and Liab_5
Fair Value of Assets and Liabilities - Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis (Detail) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Assets | ||
Foreclosed assets | $ 3,446 | $ 3,598 |
Fair Value, Measurements, Nonrecurring [Member] | ||
Assets | ||
Foreclosed assets | 0 | 0 |
Impaired loans, net of allowance | 398 | 261 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Assets | ||
Foreclosed assets | 0 | 0 |
Significant Other Observable Inputs (Level 2) [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Assets | ||
Foreclosed assets | 0 | 0 |
Significant Unobservable Inputs (Level 3) [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Assets | ||
Foreclosed assets | 0 | 0 |
Impaired loans, net of allowance | $ 398 | $ 261 |
Fair Value of Assets and Liab_6
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, 2019 | Dec. 31, 2018 |
Fair Value Assets And Liabilities Measured On Nonrecurring Basis [Line Items] | ||
Allowance for impaired loans | $ 240 | $ 206 |
Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value Assets And Liabilities Measured On Nonrecurring Basis [Line Items] | ||
Allowance for impaired loans | $ 149 | $ 154 |
Fair Value of Assets and Liab_7
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] - Fair Value, Measurements, Nonrecurring [Member] | 3 Months Ended | 12 Months Ended |
Mar. 31, 2019USD ($) | Dec. 31, 2018USD ($) | |
Foreclosed Assets [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Unobservable Input | Appraisal comparability adjustments | Appraisal comparability adjustments |
Impaired Loans [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Fair Value | $ 547 | $ 415 |
Unobservable Input | Appraisal comparability adjustments | Appraisal comparability adjustments |
Minimum [Member] | Foreclosed Assets [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Quantitative Range of Unobservable Inputs, Percentage | 0 | |
Minimum [Member] | Impaired Loans [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Quantitative Range of Unobservable Inputs, Percentage | 10 | 10 |
Maximum [Member] | Foreclosed Assets [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Quantitative Range of Unobservable Inputs, Percentage | 0 | |
Maximum [Member] | Impaired Loans [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Quantitative Range of Unobservable Inputs, Percentage | 50 | 25 |
Fair Value of Assets and Liab_8
Fair Value of Assets and Liabilities - Estimated Fair Values of Financial Instruments (Detail) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Financial Assets: | ||
Securities available for sale | $ 172,168 | $ 170,804 |
Amortized Cost [Member] | ||
Financial Assets: | ||
Cash and due from banks | 35,052 | 36,339 |
Interest-bearing deposits in banks | 12,364 | 15,711 |
Securities available for sale | 172,168 | 4,428 |
Federal Home Loan Bank stock | 4,428 | 170,804 |
Loans held for sale | 742 | 1,248 |
Loans receivable | 666,250 | 658,782 |
Accrued interest receivable | 3,666 | 3,503 |
Financial Liabilities: | ||
Deposits | 741,827 | 739,837 |
Advances from borrowers for taxes and insurance | 914 | 1,279 |
Advances from Federal Home Loan Bank | 26,000 | 33,000 |
Repurchase agreements | 59,046 | 53,011 |
Subordinated debentures | 10,310 | 10,310 |
Estimated Fair Value [Member] | ||
Financial Assets: | ||
Cash and due from banks | 35,052 | 36,339 |
Interest-bearing deposits in banks | 12,364 | 15,711 |
Securities available for sale | 172,168 | 4,428 |
Federal Home Loan Bank stock | 4,428 | 170,804 |
Loans held for sale | 742 | 1,248 |
Loans receivable | 636,933 | 627,956 |
Accrued interest receivable | 3,666 | 3,503 |
Financial Liabilities: | ||
Deposits | 741,290 | 739,573 |
Advances from borrowers for taxes and insurance | 914 | 1,279 |
Advances from Federal Home Loan Bank | 25,873 | 32,830 |
Repurchase agreements | 59,046 | 53,011 |
Subordinated debentures | 10,310 | 10,310 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Financial Assets: | ||
Cash and due from banks | 35,052 | 36,339 |
Interest-bearing deposits in banks | 12,364 | 15,711 |
Securities available for sale | 4,929 | |
Significant Other Observable Inputs (Level 2) [Member] | ||
Financial Assets: | ||
Securities available for sale | 167,235 | |
Federal Home Loan Bank stock | 170,804 | |
Loans held for sale | 742 | 1,248 |
Accrued interest receivable | 3,666 | |
Financial Liabilities: | ||
Deposits | 741,290 | 739,573 |
Advances from borrowers for taxes and insurance | 914 | 1,279 |
Advances from Federal Home Loan Bank | 25,873 | 32,830 |
Repurchase agreements | 59,046 | 53,011 |
Subordinated debentures | 10,310 | |
Significant Unobservable Inputs (Level 3) [Member] | ||
Financial Assets: | ||
Securities available for sale | 4,428 | |
Federal Home Loan Bank stock | 4,428 | |
Loans receivable | $ 636,933 | 627,956 |
Accrued interest receivable | 3,503 | |
Financial Liabilities: | ||
Subordinated debentures | $ 10,310 |
Summary of Significant Accounti
Summary of Significant Accounting Policies - Additional Information (Detail) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2019 | Dec. 31, 2017 | |
Accounting Policies [Abstract] | ||
Effective tax rate | 21.00% | 35.00% |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) - USD ($) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2019 | Dec. 31, 2017 | Dec. 31, 2018 | |
Income Tax Benefit [Line Items] | |||
Unrecognized tax benefits | $ 0 | ||
Effective tax rate | 21.00% | 35.00% | |
Bank owned life insurance | $ 10,618,000 | $ 10,672,000 | |
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 | $ 25,000,000 |
Esop - Additional Information (
Esop - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions | Mar. 02, 2015 | Mar. 31, 2019 | Dec. 31, 2018 |
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items] | |||
Total ESOP shares | 600,000 | 598,201 | 598,201 |
ESOP common stock, per share | $ 13.14 | $ 19.70 | $ 13.29 |
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 ($) | Mar. 02, 2015 | Mar. 31, 2019 | Dec. 31, 2018 |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||
Accrued for allocation to participants | 0 | 0 | |
Earned ESOP shares | 226,508 | 215,510 | |
Unearned ESOP shares | 371,693 | 382,691 | |
Total ESOP shares | 600,000 | 598,201 | 598,201 |
Share price at end of period | $ 13.14 | $ 19.70 | $ 13.29 |
Fair value of unearned shares | $ 7,322,352 | $ 5,085,963 |
Commitments and Contingencies -
Commitments and Contingencies - Additional Information (Detail) - USD ($) | Jan. 07, 2019 | Mar. 31, 2019 | Dec. 31, 2018 |
Loss Contingencies [Line Items] | |||
Undisbursed loan commitments | $ 46,500,000 | ||
Time deposits | 314,229,000 | $ 316,157,000 | |
Outstanding borrowings | 26,000,000 | $ 33,000,000 | |
Federal Home Loan Bank of Cincinnati [Member] | |||
Loss Contingencies [Line Items] | |||
Letters of credit | 49,600,000 | ||
Investment Bankers [Member] | |||
Loss Contingencies [Line Items] | |||
Business combination, acquisition service related costs | $ 1,000,000 | ||
Standby Letters of Credit [Member] | |||
Loss Contingencies [Line Items] | |||
Letters of credit | 1,000,000 | ||
Senior Executive Officer [Member] | |||
Loss Contingencies [Line Items] | |||
Business acquisition change of control payment | 2,700,000 | ||
Restricted Stock [Member] | |||
Loss Contingencies [Line Items] | |||
Business acquisition non cash charge for vesting resticted common stock | $ 244,000 | ||
One Year Or Less [Member] | |||
Loss Contingencies [Line Items] | |||
Time deposits | 48,800,000 | ||
One Year Or Less [Member] | Minimum [Member] | |||
Loss Contingencies [Line Items] | |||
Certificates of deposits | 250,000,000 | ||
Unused Home Equity Lines of Credit [Member] | |||
Loss Contingencies [Line Items] | |||
Lines of credit outstanding | 32,100,000 | ||
Personal Lines of Credit [Member] | |||
Loss Contingencies [Line Items] | |||
Lines of credit outstanding | 20,000,000 | ||
Loan Origination Commitments [Member] | |||
Loss Contingencies [Line Items] | |||
Outstanding commitments | $ 38,900,000 |
Commitments and Contingencies_2
Commitments and Contingencies - Schedule of FHLB Borrowings (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2019 | Dec. 31, 2018 | |
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ||
Outstanding Balance | $ 26,000 | $ 33,000 |
Rate | 2.44% | 2.25% |
January 10, 2019 [Member] | ||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ||
Outstanding Balance | $ 7,000 | |
Rate | 1.55% | |
Maturity | Jan. 10, 2019 | |
Eleventh July Two Thousand Nineteen [Member] | ||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ||
Outstanding Balance | $ 5,000 | $ 5,000 |
Rate | 2.56% | 2.56% |
Maturity | Jul. 11, 2019 | Jul. 11, 2019 |
January 10, 2020 [Member] | ||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ||
Outstanding Balance | $ 5,000 | $ 5,000 |
Rate | 1.73% | 1.73% |
Maturity | Jan. 10, 2020 | Jan. 10, 2020 |
July 10, 2020 [Member] | ||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ||
Outstanding Balance | $ 5,000 | $ 5,000 |
Rate | 2.84% | 2.84% |
Maturity | Jul. 10, 2020 | Jul. 10, 2020 |
October 6, 2020 [Member] | ||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ||
Outstanding Balance | $ 5,000 | $ 5,000 |
Rate | 1.92% | 1.92% |
Maturity | Oct. 6, 2020 | Oct. 6, 2020 |
Twenty Sixth July Two Thousand Twenty Three [Member] | ||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ||
Outstanding Balance | $ 6,000 | $ 6,000 |
Rate | 3.01% | 3.01% |
Maturity | Jul. 26, 2023 | Jul. 26, 2023 |
Regulatory Matters - Additional
Regulatory Matters - Additional Information (Detail) - USD ($) $ in Thousands | Jan. 01, 2019 | Jan. 31, 2016 | Mar. 31, 2019 | Dec. 31, 2018 | 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 | 14.60% | 15.50% | |||
Minimum capital conservation buffer | 2.50% | 0.625% | |||
Total assets | $ 15,000,000 | ||||
Common equity tier 1 capital assets | 41,414 | $ 39,037 | |||
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, 2019 | Dec. 31, 2018 |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Tier 1 leverage capital to adjusted total assets, Actual Amount | $ 101,051 | $ 100,520 |
Tier 1 leverage capital to adjusted total assets, Minimum Capital Required - Basel III Phase-In Schedule, Amount | 36,665 | 36,417 |
Tier 1 leverage capital to adjusted total assets, To be Well Capitalized for Prompt Corrective Action Provision, Amount | 45,832 | 45,521 |
Total capital to risk weighted assets, Actual Amount | 105,604 | 105,055 |
Total capital to risk weighted assets, Minimum Capital Required - Basel III Phase-In Schedule, Amount | 55,219 | 52,049 |
Total capital to risk weighted assets, To be Well Capitalized for Prompt Corrective Action Provision, Amount | 69,024 | 65,061 |
Tier 1 capital to risk weighted assets, Actual Amount | 101,051 | 100,520 |
Tier 1 capital to risk weighted assets, Minimum Capital Required - Basel III Phase-In Schedule, Amount | 41,414 | 39,037 |
Tier 1 capital to risk weighted assets, To be Well Capitalized for Prompt Corrective Action Provision, Amount | 55,219 | 52,049 |
Common equity tier 1 capital to risk weighted assets, Actual Amount | 101,051 | 100,520 |
Common equity tier 1 capital to risk weighted assets, Minimum Capital Required - Basel III Phase-In Schedule, Amount | $ 31,061 | $ 29,277 |
Tier 1 leverage capital to adjusted total assets, Actual Ratio | 11.00% | 11.00% |
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 | 15.30% | 16.20% |
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 | 14.60% | 15.50% |
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 | 14.60% | 15.50% |
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 | $ 97,316 | $ 99,478 |
Tier 1 leverage capital to adjusted total assets, Minimum Capital Required - Basel III Phase-In Schedule, Amount | 36,534 | 36,361 |
Tier 1 leverage capital to adjusted total assets, To be Well Capitalized for Prompt Corrective Action Provision, Amount | 45,667 | 45,451 |
Total capital to risk weighted assets, Actual Amount | 101,868 | 104,014 |
Total capital to risk weighted assets, Minimum Capital Required - Basel III Phase-In Schedule, Amount | 55,107 | 51,937 |
Total capital to risk weighted assets, To be Well Capitalized for Prompt Corrective Action Provision, Amount | 68,884 | 64,922 |
Tier 1 capital to risk weighted assets, Actual Amount | 97,316 | 99,478 |
Tier 1 capital to risk weighted assets, Minimum Capital Required - Basel III Phase-In Schedule, Amount | 41,331 | 38,953 |
Tier 1 capital to risk weighted assets, To be Well Capitalized for Prompt Corrective Action Provision, Amount | 55,107 | 51,937 |
Common equity tier 1 capital to risk weighted assets, Actual Amount | 97,316 | 99,478 |
Common equity tier 1 capital to risk weighted assets, Minimum Capital Required - Basel III Phase-In Schedule, Amount | 30,998 | 29,215 |
Common equity tier 1 capital to risk weighted assets, To be Well Capitalized for Prompt Corrective Action Provision, Amount | $ 44,865 | $ 42,199 |
Tier 1 leverage capital to adjusted total assets, Actual Ratio | 10.70% | 10.90% |
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 | 14.80% | 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 | 14.10% | 15.30% |
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 | 14.10% | 15.30% |
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% |