Document_and_Entity_Informatio
Document and Entity Information | 3 Months Ended | |
Dec. 31, 2013 | Jan. 31, 2014 | |
Document and Entity Information | ' | ' |
Entity Registrant Name | 'TIMBERLAND BANCORP INC, | ' |
Document Type | '10-Q | ' |
Document Period End Date | 31-Dec-13 | ' |
Amendment Flag | 'false | ' |
Entity Central Index Key | '0001046050 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Common Stock, Shares Outstanding | ' | 7,048,636 |
Entity Filer Category | 'Smaller Reporting Company | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q1 | ' |
Timberland_Bancorp_Inc_and_Sub
Timberland Bancorp, Inc. and Subsidiary Condensed Consolidated Balance Sheets (Unaudited) (USD $) | Dec. 31, 2013 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | ||
Cash and cash equivalents: | ' | ' |
Cash and due from financial institutions | $11,508 | $12,879 |
Interest-bearing deposits in banks | 54,730 | 81,617 |
Total cash and cash equivalents | 66,238 | 94,496 |
Certificates of deposit (“CDsâ€) held for investment (at cost which approximates fair value) | 32,428 | 30,042 |
Mortgage-backed securities (“MBSâ€) and other investments - held to maturity, at amortized cost (estimated fair value $3,433 and $3,533) | 2,617 | 2,737 |
MBS and other investments - available for sale | 3,930 | 4,101 |
Federal Home Loan Bank of Seattle (“FHLBâ€) stock | 5,401 | 5,452 |
Loans receivable | 565,655 | 557,329 |
Loans held for sale | 994 | 1,911 |
Less: Allowance for loan losses | -10,745 | -11,136 |
Total loans receivable, net | 555,904 | 548,104 |
Premises and equipment, net | 17,914 | 17,764 |
Other real estate owned (“OREOâ€) and other repossessed assets, net | 12,483 | 11,720 |
Accrued interest receivable | 2,092 | 1,972 |
Bank owned life insurance (“BOLIâ€) | 17,217 | 17,102 |
Goodwill | 5,650 | 5,650 |
Core deposit intangible (“CDIâ€) | 90 | 119 |
Other assets | 3,825 | 4,123 |
Total assets | 727,933 | 745,648 |
Deposits: | ' | ' |
Non-interest-bearing demand | 98,585 | 87,657 |
Interest-bearing | 502,898 | 520,605 |
Total deposits | 601,483 | 608,262 |
FHLB advances | 45,000 | 45,000 |
Other liabilities and accrued expenses | 2,362 | 2,698 |
Total liabilities | 648,845 | 655,960 |
Shareholders’ equity | ' | ' |
Fixed Rate Cumulative Perpetual Preferred Stock. Series A. $0.01 par value; 1,000,000 shares authorized; redeemable at $1,000 per share; 12,065 shares, Series A. issued and outstanding - September 30, 2013 | 0 | 11,936 |
Common stock, $.01 par value; 50,000,000 shares authorized; 7,047,636 shares issued and outstanding - December 31, 2013 7,045,036 shares issued and outstanding - September 30, 2013 | 10,614 | 10,570 |
Unearned shares issued to Employee Stock Ownership Plan (“ESOPâ€) | -1,388 | -1,454 |
Retained earnings | 70,211 | 68,998 |
Accumulated other comprehensive loss | -349 | -362 |
Total shareholders’ equity | 79,088 | 89,688 |
Total liabilities and shareholders’ equity | $727,933 | $745,648 |
Timberland_Bancorp_Inc_and_Sub1
Timberland Bancorp, Inc. and Subsidiary Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) (USD $) | Dec. 31, 2013 | Sep. 30, 2013 |
In Thousands, except Share data, unless otherwise specified | ||
Statement of Financial Position [Abstract] | ' | ' |
Mortgage-backed securities and other investments held to maturity-fair value | $3,433 | $3,533 |
Preferred stock par value (in dollars per share) | $0.01 | $0.01 |
Preferred stock shares authorized | 1,000,000 | 1,000,000 |
Preferred stock shares issued | 12,065 | 16,641 |
Preferred stock shares outstanding | 12,065 | 16,641 |
Preferred stock per share liquidation value (in dollars per share) | $1,000 | $1,000 |
Common stock par value (in dollars per share) | $0.01 | $0.01 |
Common stock shares authorized | 50,000,000 | 50,000,000 |
Common stock shares issued | 7,045,036 | 7,045,036 |
Common stock shares outstanding | 7,045,036 | 7,045,036 |
Timberland_Bancorp_Inc_and_Sub2
Timberland Bancorp, Inc. and Subsidiary Condensed Consolidated Statements of Income (Unaudited) (USD $) | 3 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Interest and dividend income | ' | ' |
Loans receivable | $7,318 | $7,414 |
MBS and other investments | 61 | 77 |
Dividends from mutual funds and FHLB stock | 8 | 12 |
Interest-bearing deposits in banks | 94 | 86 |
Total interest and dividend income | 7,481 | 7,589 |
Interest expense | ' | ' |
Deposits | 551 | 728 |
FHLB advances | 471 | 472 |
Total interest expense | 1,022 | 1,200 |
Net interest income | 6,459 | 6,389 |
Provision for loan losses | 0 | 200 |
Net interest income after provision for loan losses | 6,459 | 6,189 |
Non-interest income | ' | ' |
Other than temporary impairment (“OTTIâ€) on MBS and other investments | -3 | -7 |
Adjustment for portion recorded as (transferred from) other comprehensive income (loss) before taxes | 1 | -3 |
Net OTTI on MBS and other investments | -2 | -10 |
Service charges on deposits | 992 | 947 |
ATM and debit card interchange transaction fees | 585 | 515 |
BOLI net earnings | 115 | 143 |
Gain on sales of loans, net | 302 | 642 |
Escrow fees | 35 | 35 |
Valuation recovery on MSRs | 0 | 254 |
Fee income from non-deposit investment sales | 28 | 25 |
Other | 140 | 164 |
Total non-interest income, net | 2,195 | 2,715 |
Non-interest expense | ' | ' |
Salaries and employee benefits | 3,380 | 3,114 |
Premises and equipment | 693 | 690 |
Advertising | 178 | 177 |
OREO and other repossessed assets, net | 159 | 288 |
ATM | 226 | 221 |
Postage and courier | 96 | 113 |
Amortization of CDI | 29 | 33 |
State and local taxes | 117 | 139 |
Professional fees | 183 | 242 |
Federal Deposit Insurance Corporation (FDIC) insurance | 162 | 241 |
Other insurance | 39 | 52 |
Loan administration and foreclosure | 109 | 138 |
Data processing and telecommunications | 330 | 287 |
Deposit operations | 179 | 164 |
Other | 361 | 478 |
Total non-interest expense | 6,241 | 6,377 |
Income before federal income taxes | 2,413 | 2,527 |
Provision for federal income taxes | 802 | 819 |
Net income | 1,611 | 1,708 |
Preferred stock dividends | -136 | -201 |
Preferred stock discount accretion | -70 | -63 |
Net income to common shareholders | $1,405 | $1,444 |
Net income per common share | ' | ' |
Basic (in dollars per share) | $0.20 | $0.21 |
Diluted (in dollars per share) | $0.20 | $0.21 |
Weighted average common shares outstanding | ' | ' |
Basic (in shares) | 6,853,683 | 6,815,782 |
Diluted (in shares) | 6,978,385 | 6,821,006 |
Dividends paid per common share (in dollars per share) | $0.03 | $0 |
Timberland_Bancorp_Inc_and_Sub3
Timberland Bancorp, Inc. and Subsidiary Condensed Consolidated Statements of Comprehensive Income (Unaudited) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Comprehensive income: | ' | ' |
Net income | $1,611 | $1,708 |
Unrealized holding gain (loss) on securities available for sale, net of tax | 2 | -19 |
Change in OTTI on securities held to maturity, net of tax: | ' | ' |
Additional amount recognized (recovered) related to credit loss for which OTTI was previously recognized | -1 | 0 |
Amount reclassified to credit loss for previously recorded market loss | 0 | 2 |
Accretion of OTTI securities held to maturity, net of tax | 12 | 12 |
Total comprehensive income | $1,624 | $1,703 |
Timberland_Bancorp_Inc_and_Sub4
Timberland Bancorp, Inc. and Subsidiary Condensed Consolidated Statements of Shareholders' Equity (Unaudited) (USD $) | Total | MRDP Stock | Stock Options | Preferred Stock | Common Stock | Common Stock | Common Stock | Unearned Shares Issued to ESOP | Retained Earnings | Accumulated Other Compre- hensive Loss | ||||
In Thousands, except Share data, unless otherwise specified | MRDP Stock | Stock Options | ||||||||||||
Balance at beginning of period - amount at Sep. 30, 2012 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Net income | $4,757 | ' | ' | ' | ' | ' | ' | ' | $4,757 | ' | ||||
Preferred stock discount accretion | ' | ' | ' | 283 | ' | ' | ' | ' | -283 | ' | ||||
5% preferred stock dividend | -885 | ' | ' | ' | ' | ' | ' | ' | -885 | ' | ||||
Earned ESOP shares, net of tax | 271 | ' | ' | ' | 6 | ' | ' | 265 | ' | ' | ||||
Stock option/MRDP compensation expense | 92 | [1] | 31 | [1] | 49 | ' | 92 | [1] | 31 | [1] | 49 | ' | ' | ' |
Unrealized holding gain on securities available for sale, net of tax | 23 | ' | ' | ' | ' | ' | ' | ' | ' | 23 | ||||
Change in OTTI on securities held to maturity, net of tax | 21 | ' | ' | ' | ' | ' | ' | ' | ' | 21 | ||||
Accretion of OTTI on securities held to maturity, net of tax | 57 | ' | ' | ' | ' | ' | ' | ' | ' | 57 | ||||
Balance at end of period - amount at Sep. 30, 2013 | 89,688 | ' | ' | 11,936 | 10,570 | ' | ' | -1,454 | 68,998 | -362 | ||||
Balance at end of period - shares at Sep. 30, 2013 | ' | ' | ' | 12,065 | 7,045,036 | ' | ' | ' | ' | ' | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Net income | 1,611 | ' | ' | ' | ' | ' | ' | ' | 1,611 | ' | ||||
Preferred stock discount accretion | -70 | ' | ' | 70 | ' | ' | ' | ' | -70 | ' | ||||
Redemption of preferred stock - shares | ' | ' | ' | -12,065 | ' | ' | ' | ' | ' | ' | ||||
Redemption of preferred stock - amount | -12,065 | ' | ' | -12,006 | ' | ' | ' | ' | -59 | ' | ||||
5% preferred stock dividend | -58 | ' | ' | ' | ' | ' | ' | ' | -58 | ' | ||||
Common stock dividends ($0.03 per common share) | -211 | ' | ' | ' | ' | ' | ' | ' | -211 | ' | ||||
Earned ESOP shares, net of tax | 75 | ' | ' | ' | 9 | ' | ' | 66 | ' | ' | ||||
Stock option/MRDP compensation expense | 46 | [1] | 2 | [1] | 22 | ' | 46 | [1] | 2 | [1] | 22 | ' | ' | ' |
Unrealized holding gain on securities available for sale, net of tax | 2 | ' | ' | ' | ' | ' | ' | ' | ' | 2 | ||||
Change in OTTI on securities held to maturity, net of tax | -1 | ' | ' | ' | ' | ' | ' | ' | ' | -1 | ||||
Accretion (Amortization) of Discounts and Premiums, Investments | 12 | ' | ' | ' | ' | ' | ' | ' | ' | 12 | ||||
Balance at end of period - amount at Dec. 31, 2013 | $79,088 | ' | ' | $0 | $10,614 | ' | ' | ($1,388) | $70,211 | ($349) | ||||
Balance at end of period - shares at Dec. 31, 2013 | ' | ' | ' | 0 | 7,047,636 | ' | ' | ' | ' | ' | ||||
[1] | 1998 Management Recognition and Development Plan (“MRDPâ€). |
Recovered_Sheet1
Timberland Bancorp, inc. and Subsidiary Condensed Consolidated Statements of Shareholders' Equity (Parentheticals) (USD $) | 3 Months Ended | 12 Months Ended |
Dec. 31, 2013 | Sep. 30, 2013 | |
Preferred Stock | ' | ' |
Preferred stock, dividend rate (percent) | 0.00% | 5.00% |
Common Stock | ' | ' |
Common stock dividends (in dollars per share) | 0.03 | ' |
Timberland_Bancorp_Inc_and_Sub5
Timberland Bancorp, Inc. and Subsidiary Condensed Consolidated Statements of Shareholders' Equity Timberland Bancorp, Inc. and Subsidiary Condensed Consolidated Statements of Shareholders' Equity (Phantom) (USD $) | 3 Months Ended | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | ||
Stock option/MRDP compensation expense | $46 | [1] | $92 | [1] |
Common Stock | ' | ' | ||
Stock option/MRDP compensation expense | $46 | [1] | $92 | [1] |
[1] | 1998 Management Recognition and Development Plan (“MRDPâ€). |
Timberland_Bancorp_Inc_and_Sub6
Timberland Bancorp, Inc. and Subsidiary Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Cash flow from operating activities | ' | ' |
Net income | $1,611 | $1,708 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' |
Provision for loan losses | 0 | 200 |
Depreciation | 279 | 252 |
Amortization of CDI | 29 | 33 |
Earned ESOP shares | 66 | 66 |
MRDP compensation expense | 2 | 13 |
Stock option compensation expense | 22 | 11 |
Gain on sales of OREO and other repossessed assets, net | -73 | -211 |
Provision for OREO losses | 100 | 244 |
Gain on sale of premises and equipment | 0 | -8 |
BOLI net earnings | -115 | -143 |
Gain on sales of loans, net | -302 | -642 |
Increase (decrease) in deferred loan origination fees | 58 | -175 |
Net OTTI on MBS and other investments | 2 | 10 |
Valuation recovery on MSRs | 0 | -254 |
Loans originated for sale | -9,043 | -24,063 |
Proceeds from sales of loans | 10,262 | 24,096 |
Decrease in other assets, net | 285 | 1,195 |
Decrease in other liabilities and accrued expenses, net | -336 | -160 |
Net cash provided by operating activities | 2,847 | 2,172 |
Cash flows from investing activities | ' | ' |
Net increase in CDs held for investment | -2,386 | -3,262 |
Proceeds from maturities and prepayments of MBS and other investments available for sale | 175 | 234 |
Proceeds from maturities and prepayments of MBS and other investments held to maturity | 142 | 159 |
Redemption of FHLB stock | 51 | 51 |
Increase in loans receivable, net | -11,694 | -6,629 |
Additions to premises and equipment | -429 | -393 |
Proceeds from sale of premises and equipment | 0 | 8 |
Proceeds from sale of OREO and other repossessed assets | 2,129 | 806 |
Net cash used in investing activities | -12,012 | -9,026 |
Cash flows from financing activities | ' | ' |
Decrease in deposits, net | -6,779 | -3,527 |
Decrease in repurchase agreements, net | 0 | -230 |
ESOP tax effect | 9 | -8 |
Redemption of preferred stock | -12,065 | 0 |
Dividends paid | -269 | -201 |
Net cash used in financing activities | -19,093 | -3,966 |
Net decrease in cash and cash equivalents | -28,258 | -10,820 |
Cash and cash equivalents, at beginning of period | 94,496 | ' |
Cash and cash equivalents, at end of period | 66,238 | ' |
Supplemental disclosure of cash flow information | ' | ' |
Income taxes paid | 500 | 0 |
Interest paid | 1,028 | 1,220 |
Supplemental disclosure of non-cash investing activities | ' | ' |
Loans transferred to OREO and other repossessed assets | 2,919 | 1,341 |
Loans originated to facilitate the sale of OREO | $0 | $574 |
Summary_Of_Significant_Account
Summary Of Significant Accounting Policies | 3 Months Ended |
Dec. 31, 2013 | |
Accounting Policies [Abstract] | ' |
Summary Of Significant Accounting Policies | ' |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |
(a) Basis of Presentation: The accompanying unaudited condensed consolidated financial statements for Timberland Bancorp, Inc. (“Company”) were prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and with instructions for Form 10-Q and, therefore, do not include all disclosures necessary for a complete presentation of financial condition, results of operations, and cash flows in conformity with GAAP. However, all adjustments which are, in the opinion of management, necessary for a fair presentation of the interim condensed consolidated financial statements have been included. All such adjustments are of a normal recurring nature. The unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended September 30, 2013 (“2013 Form 10-K”). The unaudited condensed consolidated results of operations for the three months ended December 31, 2013 are not necessarily indicative of the results that may be expected for the entire fiscal year ending September 30, 2014. | |
(b) Principles of Consolidation: The unaudited condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary, Timberland Bank (“Bank”), and the Bank’s wholly-owned subsidiary, Timberland Service Corp. All significant intercompany transactions and balances have been eliminated in consolidation. | |
(c) Operating Segment: The Company has one reportable operating segment which is defined as community banking in western Washington under the operating name, “Timberland Bank.” | |
(d) The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. | |
(e) Certain prior period amounts have been reclassified to conform to the December 31, 2013 presentation with no change to net income or total shareholders’ equity previously reported. |
Preferred_Stock_Received_in_Tr
Preferred Stock Received in Troubled Asset Relief Program ("TARP") Capital Purchase Program ("CPP") | 3 Months Ended |
Dec. 31, 2013 | |
Equity [Abstract] | ' |
Preferred Stock Received in Troubled Asset Relief Program ("TARP") Capital Purchase Program ("CPP") | ' |
PREFERRED STOCK SOLD IN TROUBLED ASSET RELIEF PROGRAM (“TARP”) CAPITAL PURCHASE PROGRAM (“CPP”) | |
On December 23, 2008, the Company received $16.64 million from the U.S. Treasury Department (“Treasury”) as a part of the Treasury’s CPP, which was established as part of the TARP. The Company sold 16,641 shares of Fixed Rate Cumulative Perpetual Preferred Stock, Series A (“Series A Preferred Stock”), with a liquidation value of $1,000 per share and a related warrant to purchase 370,899 shares of the Company’s common stock at an exercise price of $6.73 per share (subject to anti-dilution adjustments) at any time through December 23, 2018. The Series A Preferred Stock paid a 5.0% dividend for the first five years, after which the rate was scheduled to increase to 9.0% if the preferred shares were not redeemed by the Company. | |
On November 13, 2012, the Company’s outstanding 16,641 shares of Series A Preferred Stock were sold by the Treasury as part of its efforts to manage and recover its investments under the TARP. While the sale of the shares of Series A Preferred Stock to new owners did not result in any proceeds to the Company and did not change the Company’s capital position or accounting for these securities, it did eliminate restrictions put in place by the Treasury on TARP recipients. | |
On June 12, 2013, the Treasury sold, to private investors, the warrant to purchase up to 370,899 shares of the Company's common stock. The sale of the warrant to new owners did not result in any proceeds to the Company and did not change the Company's capital position or accounting for the warrant. | |
During the year ended September 30, 2013 the Company purchased and retired 4,576 shares of its Series A Preferred Stock for $4.32 million; a $255,000 discount from the liquidation value. The discount from the liquidation value on the repurchased shares was recorded as an increase to retained earnings and included in net income to common shareholders in the computation of net income per common share. On December 20, 2013, the Company redeemed the remaining 12,065 shares of its Series A Preferred Stock at the liquidation value of $12.07 million. |
MBS_And_Other_Investments
MBS And Other Investments | 3 Months Ended | |||||||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||||||
Investments [Abstract] | ' | |||||||||||||||||||||||||||||
MBS And Other Investments | ' | |||||||||||||||||||||||||||||
MBS AND OTHER INVESTMENTS | ||||||||||||||||||||||||||||||
MBS and other investments have been classified according to management’s intent and are as follows as of December 31, 2013 and September 30, 2013 (dollars in thousands): | ||||||||||||||||||||||||||||||
Amortized | Gross | Gross | Estimated | |||||||||||||||||||||||||||
Cost | Unrealized | Unrealized | Fair Value | |||||||||||||||||||||||||||
Gains | Losses | |||||||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||||
Held to Maturity | ||||||||||||||||||||||||||||||
MBS: | ||||||||||||||||||||||||||||||
U.S. government agencies | $ | 1,152 | $ | 33 | $ | (2 | ) | $ | 1,183 | |||||||||||||||||||||
Private label residential | 1,451 | 805 | (21 | ) | 2,235 | |||||||||||||||||||||||||
U.S. agency securities | 14 | 1 | — | 15 | ||||||||||||||||||||||||||
Total | $ | 2,617 | $ | 839 | $ | (23 | ) | $ | 3,433 | |||||||||||||||||||||
Available for Sale | ||||||||||||||||||||||||||||||
MBS: | ||||||||||||||||||||||||||||||
U.S. government agencies | $ | 2,012 | $ | 111 | $ | (2 | ) | $ | 2,121 | |||||||||||||||||||||
Private label residential | 763 | 112 | (9 | ) | 866 | |||||||||||||||||||||||||
Mutual funds | 1,000 | — | (57 | ) | 943 | |||||||||||||||||||||||||
Total | $ | 3,775 | $ | 223 | $ | (68 | ) | $ | 3,930 | |||||||||||||||||||||
September 30, 2013 | ||||||||||||||||||||||||||||||
Held to Maturity | ||||||||||||||||||||||||||||||
MBS: | ||||||||||||||||||||||||||||||
U.S. government agencies | $ | 1,202 | $ | 31 | $ | (2 | ) | $ | 1,231 | |||||||||||||||||||||
Private label residential | 1,521 | 781 | (15 | ) | 2,287 | |||||||||||||||||||||||||
U.S. agency securities | 14 | 1 | — | 15 | ||||||||||||||||||||||||||
Total | $ | 2,737 | $ | 813 | $ | (17 | ) | $ | 3,533 | |||||||||||||||||||||
Available for Sale | ||||||||||||||||||||||||||||||
MBS: | ||||||||||||||||||||||||||||||
U.S. government agencies | $ | 2,144 | $ | 87 | $ | (2 | ) | $ | 2,229 | |||||||||||||||||||||
Private label residential | 804 | 120 | (10 | ) | 914 | |||||||||||||||||||||||||
Mutual funds | 1,000 | — | (42 | ) | 958 | |||||||||||||||||||||||||
Total | $ | 3,948 | $ | 207 | $ | (54 | ) | $ | 4,101 | |||||||||||||||||||||
The following table summarizes the estimated fair value and gross unrealized losses for all securities and the length of time these unrealized losses existed as of December 31, 2013 (dollars in thousands): | ||||||||||||||||||||||||||||||
Less Than 12 Months | 12 Months or Longer | Total | ||||||||||||||||||||||||||||
Estimated | Gross | Qty | Estimated | Gross | Qty | Estimated | Gross | |||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | |||||||||||||||||||||||||
Held to Maturity | ||||||||||||||||||||||||||||||
MBS: | ||||||||||||||||||||||||||||||
U.S. government agencies | $ | 18 | $ | — | 4 | $ | 85 | $ | (2 | ) | 7 | $ | 103 | $ | (2 | ) | ||||||||||||||
Private label residential | 79 | (7 | ) | 4 | 217 | (14 | ) | 12 | 296 | (21 | ) | |||||||||||||||||||
Total | $ | 97 | $ | (7 | ) | 8 | $ | 302 | $ | (16 | ) | 19 | $ | 399 | $ | (23 | ) | |||||||||||||
Available for Sale | ||||||||||||||||||||||||||||||
MBS: | ||||||||||||||||||||||||||||||
U.S. government agencies | $ | 41 | $ | (2 | ) | 2 | $ | — | $ | — | 1 | $ | 41 | $ | (2 | ) | ||||||||||||||
Private label residential | — | — | — | 101 | (9 | ) | 2 | 101 | (9 | ) | ||||||||||||||||||||
Mutual Funds | 943 | (57 | ) | 1 | — | — | — | 943 | (57 | ) | ||||||||||||||||||||
Total | $ | 984 | $ | (59 | ) | 3 | $ | 101 | $ | (9 | ) | 3 | $ | 1,085 | $ | (68 | ) | |||||||||||||
The following table summarizes the estimated fair value and gross unrealized losses for all securities and the length of time the unrealized losses existed as of September 30, 2013 (dollars in thousands): | ||||||||||||||||||||||||||||||
Less Than 12 Months | 12 Months or Longer | Total | ||||||||||||||||||||||||||||
Estimated | Gross | Qty | Estimated | Gross | Qty | Estimated | Gross | |||||||||||||||||||||||
Fair | Unrealized Losses | Fair | Unrealized Losses | Fair | Unrealized Losses | |||||||||||||||||||||||||
Value | Value | Value | ||||||||||||||||||||||||||||
Held to Maturity | ||||||||||||||||||||||||||||||
MBS: | ||||||||||||||||||||||||||||||
U.S. government agencies | $ | 3 | $ | — | 6 | $ | 88 | $ | (2 | ) | 4 | $ | 91 | $ | (2 | ) | ||||||||||||||
Private label residential | 80 | (4 | ) | 4 | 239 | (11 | ) | 14 | 319 | (15 | ) | |||||||||||||||||||
Total | $ | 83 | $ | (4 | ) | 10 | $ | 327 | $ | (13 | ) | 18 | $ | 410 | $ | (17 | ) | |||||||||||||
Available for Sale | ||||||||||||||||||||||||||||||
MBS: | ||||||||||||||||||||||||||||||
U.S. government agencies | $ | 96 | $ | (2 | ) | 3 | $ | — | $ | — | 1 | $ | 96 | $ | (2 | ) | ||||||||||||||
Private label residential | — | — | — | 108 | (10 | ) | 2 | 108 | (10 | ) | ||||||||||||||||||||
Mutual Funds | 958 | (42 | ) | 1 | — | — | — | 958 | (42 | ) | ||||||||||||||||||||
Total | $ | 1,054 | $ | (44 | ) | 4 | $ | 108 | $ | (10 | ) | 3 | $ | 1,162 | $ | (54 | ) | |||||||||||||
During the three months ended December 31, 2013 and 2012, the Company recorded net OTTI charges through earnings on residential MBS of $2,000 and $10,000, respectively. The Company provides for the bifurcation of OTTI into (i) amounts related to credit losses which are recognized through earnings, and (ii)amounts related to all other factors which are recognized as a component of other comprehensive income. | ||||||||||||||||||||||||||||||
To determine the component of the gross OTTI related to credit losses, the Company compared the amortized cost basis of each OTTI security to the present value of its revised expected cash flows, discounted using its pre-impairment yield. The revised expected cash flow estimates for individual securities are based primarily on an analysis of default rates and prepayment speeds included in third-party analytic reports. Significant judgment by management is required in this analysis that includes, but is not limited to, assumptions regarding the collectability of principal and interest, net of related expenses, on the underlying loans. | ||||||||||||||||||||||||||||||
The following table presents a summary of the significant inputs utilized to measure management’s estimate of the credit loss component on OTTI securities as of December 31, 2013 and September 30, 2013: | ||||||||||||||||||||||||||||||
Range | Weighted | |||||||||||||||||||||||||||||
Minimum | Maximum | Average | ||||||||||||||||||||||||||||
31-Dec-13 | ||||||||||||||||||||||||||||||
Constant prepayment rate | 6 | % | 15 | % | 12.72 | % | ||||||||||||||||||||||||
Collateral default rate | 0.52 | % | 20.4 | % | 6.79 | % | ||||||||||||||||||||||||
Loss severity rate | 20.34 | % | 71.52 | % | 43.78 | % | ||||||||||||||||||||||||
30-Sep-13 | ||||||||||||||||||||||||||||||
Constant prepayment rate | 6 | % | 15 | % | 12.33 | % | ||||||||||||||||||||||||
Collateral default rate | 0.73 | % | 22.53 | % | 7.84 | % | ||||||||||||||||||||||||
Loss severity rate | 20.48 | % | 75.02 | % | 52.69 | % | ||||||||||||||||||||||||
The following tables present the OTTI losses for the three months ended December 31, 2013 and 2012 (dollars in thousands): | ||||||||||||||||||||||||||||||
Three Months Ended December 31, 2013 | Three Months Ended | |||||||||||||||||||||||||||||
31-Dec-12 | ||||||||||||||||||||||||||||||
Held To | Available | Held To | Available | |||||||||||||||||||||||||||
Maturity | For Sale | Maturity | For Sale | |||||||||||||||||||||||||||
Total OTTI | $ | (3 | ) | $ | — | $ | (6 | ) | $ | (1 | ) | |||||||||||||||||||
Adjustment for portion recorded as (transferred from) | 1 | — | (3 | ) | — | |||||||||||||||||||||||||
other comprehensive income (loss) before taxes (1) | ||||||||||||||||||||||||||||||
Net OTTI recognized in earnings (2) | $ | (2 | ) | $ | — | $ | (9 | ) | $ | (1 | ) | |||||||||||||||||||
________________________ | ||||||||||||||||||||||||||||||
-1 | Represents OTTI related to all other factors. | |||||||||||||||||||||||||||||
-2 | Represents OTTI related to credit losses. | |||||||||||||||||||||||||||||
The following table presents a roll-forward of the credit loss component of held to maturity and available for sale debt securities that have been written down for OTTI with the credit loss component recognized in earnings and the remaining impairment loss related to all other factors recognized in other comprehensive income for the three months ended December 31, 2013 and 2012 (dollars in thousands): | ||||||||||||||||||||||||||||||
Three Months Ended December 31, | ||||||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||||||
Beginning balance of credit loss | $ | 2,084 | $ | 2,703 | ||||||||||||||||||||||||||
Additions: | ||||||||||||||||||||||||||||||
Credit losses for which OTTI was | 2 | 4 | ||||||||||||||||||||||||||||
not previously recognized | ||||||||||||||||||||||||||||||
Additional increases to the amount | — | 6 | ||||||||||||||||||||||||||||
related to credit loss for which OTTI | ||||||||||||||||||||||||||||||
was previously recognized | ||||||||||||||||||||||||||||||
Subtractions: | ||||||||||||||||||||||||||||||
Realized losses previously recorded | (40 | ) | (232 | ) | ||||||||||||||||||||||||||
as credit losses | ||||||||||||||||||||||||||||||
Ending balance of credit loss | $ | 2,046 | $ | 2,481 | ||||||||||||||||||||||||||
There was no realized gain on sale of securities for the three months ended December 31, 2013 and 2012. During the three months ended December 31, 2013, the Company recorded a $40,000 realized loss (as a result of the securities being deemed worthless) on 14 held to maturity residential MBS and six available for sale residential MBS, of which the entire amount had been recognized previously as a credit loss. During the three months ended December 31, 2012, the Company recorded a $232,000 realized loss (as a result of the securities being deemed worthless) on 16 held to maturity residential MBS and six available for sale residential MBS, of which the entire amount had been recognized previously as a credit loss. | ||||||||||||||||||||||||||||||
The amortized cost of residential mortgage-backed and agency securities pledged as collateral for public fund deposits, federal treasury tax and loan deposits, FHLB collateral, retail repurchase agreements and other non-profit organization deposits totaled $4.15 million and $4.54 million at December 31, 2013 and September 30, 2013, respectively. | ||||||||||||||||||||||||||||||
The contractual maturities of debt securities at December 31, 2013 were as follows (dollars in thousands). Expected maturities may differ from scheduled maturities as a result of the prepayment of principal or call provisions. | ||||||||||||||||||||||||||||||
Held to Maturity | Available for Sale | |||||||||||||||||||||||||||||
Amortized | Estimated | Amortized | Estimated | |||||||||||||||||||||||||||
Cost | Fair | Cost | Fair | |||||||||||||||||||||||||||
Value | Value | |||||||||||||||||||||||||||||
Due within one year | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||
Due after one year to five years | 20 | 22 | 26 | 26 | ||||||||||||||||||||||||||
Due after five to ten years | 18 | 18 | 27 | 27 | ||||||||||||||||||||||||||
Due after ten years | 2,579 | 3,393 | 2,722 | 2,934 | ||||||||||||||||||||||||||
Total | $ | 2,617 | $ | 3,433 | $ | 2,775 | $ | 2,987 | ||||||||||||||||||||||
Goodwill
Goodwill | 3 Months Ended |
Dec. 31, 2013 | |
Goodwill and Intangible Assets Disclosure [Abstract] | ' |
Goodwill | ' |
GOODWILL | |
The Company performed its fiscal year 2013 goodwill impairment test during the quarter ended June 30, 2013 with the assistance of a third-party firm specializing in goodwill impairment valuations for financial institutions. The third-party analysis was conducted as of May 31, 2013 and the final adjusted conclusion received subsequent to September 30, 2013 was that the fair value of goodwill as of May 31, 2013 was $25.0 million, which exceeded the recorded value of $5.7 million by 339% . | |
The goodwill impairment test involved a two-step process. Step one of the goodwill impairment test estimated the fair value of the reporting unit utilizing the allocation of corporate value approach, the income approach and the market approach in order to derive an enterprise value for the Company. | |
The allocation of corporate value approach applies the aggregate market value of the Company and divides it among the reporting units. The Company has a single reporting unit. The aggregate market value was based on the Company's common stock market price on May 31, 2013, adjusted for a control premium and the value of preferred stock (at its liquidation value). A key assumption in this approach is the control premium applied to the aggregate market value. A control premium is utilized as the value of a company from the perspective of a controlling interest and is generally higher than the widely quoted market price per share. The Company used an expected control premium of 30%, which was based on comparable transaction history. | |
The income approach uses a reporting unit's projection of estimated operating results and cash flows that are discounted using a rate that reflects current market conditions. The projection uses management's estimates of economic and market conditions over the projected period including growth rates in loans and deposits, estimates of future expected changes in net interest margins and cash expenditures. Key assumptions used by the Company in its discounted cash flow model (income approach) included an annual revenue growth rate that approximated 3.0% and a return on assets that ranged from 0.54% to 1.01% (average of 0.73%). In addition to the above projections of estimated operating results, key assumptions used to determine the fair value estimate under the income approach were the discount rate of 15.0% utilized for the Company's cash flow estimate and a terminal value of 1.25 times the ending book value of the reporting unit. The Company used a build-up approach in developing the discount rate that included an assessment of the risk free interest rate, the rate of return expected from publicly traded stocks based on an analysis of historical data, the industry the Company operates in and the size of the Company. | |
The market approach estimates the fair value by applying cash flow multiples to the reporting unit's operating performance. The multiples were derived from comparable publicly traded companies with operating and investment characteristics similar to those of the reporting unit. In applying the market approach method, the Company selected eight publicly traded institutions based on a variety of financial metrics (tangible equity, return on assets, return on equity, net interest margin, nonperforming assets, net charge-offs, and reserves for loan losses) and other relevant qualitative factors (geographical location, lines of business, risk profile, availability of financial information, etc.). | |
The Company calculated a fair value of its reporting unit of $89 million using the corporate value approach, $82 million using the income approach and $96 million using the market approach. The concluded fair value based on the three methods under the step one test was $87 million, with the most weighting given to the income approach. The results of the Company's step one test indicated that the reporting unit's fair value was less than its recorded value and therefore the Company performed a step two analysis. | |
The Company then calculated the implied fair value of its reporting unit under step two of the goodwill impairment test. Under this approach, the Company calculated the fair value for the assets and liabilities of the reporting unit. The calculated implied fair value of the Company's goodwill based on the final analysis exceeded the recorded value by $19.3 million. | |
Under the step two process significant adjustments were made to determine the estimated fair value of the Company's loans receivable compared to its recorded value. The Company utilized a discounted cash flow approach and a comparable transaction approach to determine the fair value of its loans receivable. | |
The discounted cash flow approach was utilized to value performing loans with credit quality grades of pass. A key assumption in the discounted cash flow approach was determining an appropriate discount rate. In determining the discount rate for pass loans, the Company started with its contractual cash flows and its current lending rate for comparable loans and adjusted these for credit factors, estimated prepayments and liquidity premiums. Based on a final analysis of these factors, performing loans with credit quality grades of pass were discounted by 1%. | |
The comparable transaction approach using comparable loan sales was utilized for performing loans with credit quality grades of watch, special mention or substandard and for non-performing loans. In the comparable transaction approach a weighted average discount rate was used that approximated the discount for similar loan sales by the FDIC. A key assumption used by the Company in the comparable transaction approach was determining the appropriate discount rate to apply to each loan category. Performing loans with credit quality grades of watch, special mention or substandard were discounted by 25% and non-performing loans were discounted by 50%. These weighted average discount rates approximated the discount for similar loan sales by the FDIC. Increases in the pricing for future reported loan sale transactions could have a significant impact on the implied fair value of goodwill under the step two process. | |
A significant amount of judgment is involved in determining if an indicator of goodwill impairment has occurred. Such indicators may include, among others; a significant decline in the expected future cash flows; a sustained, significant decline in the Company's stock price and market capitalization; a significant adverse change in legal factors or in the business climate; adverse assessment or action by a regulator; and unanticipated competition. Key assumptions used in the annual goodwill impairment test are highly judgmental and include: selection of comparable companies, amount of control premium, projected cash flows, discount rate applied to projected cash flows and method of estimating fair value of loans. Any change in these indicators or key assumptions could have a significant negative impact on the Company's financial condition, impact the goodwill impairment analysis or cause the Company to perform a goodwill impairment analysis more frequently than once per year. | |
As of September 30, 2013 and December 31, 2013, management believes that there have been no events or changes in the circumstances that would indicate a potential impairment. No assurances can be given, however, that the Company will not record an impairment loss on goodwill in the future. |
Loans_Receivable_And_Allowance
Loans Receivable And Allowance For Loan Losses | 3 Months Ended | |||||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||||
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract] | ' | |||||||||||||||||||||||||||
Loans Receivable And Allowance For Loan Losses | ' | |||||||||||||||||||||||||||
LOANS RECEIVABLE AND ALLOWANCE FOR LOAN LOSSES | ||||||||||||||||||||||||||||
Loans receivable and loans held for sale consisted of the following at December 31, 2013 and September 30, 2013 | ||||||||||||||||||||||||||||
(dollars in thousands): | ||||||||||||||||||||||||||||
December 31, | September 30, | |||||||||||||||||||||||||||
2013 | 2013 | |||||||||||||||||||||||||||
Amount | Percent | Amount | Percent | |||||||||||||||||||||||||
Mortgage loans: | ||||||||||||||||||||||||||||
One- to four-family (1) | $ | 100,869 | 17.1 | % | $ | 104,298 | 18 | % | ||||||||||||||||||||
Multi-family | 48,212 | 8.2 | 51,108 | 8.8 | ||||||||||||||||||||||||
Commercial | 299,644 | 50.8 | 291,297 | 50.3 | ||||||||||||||||||||||||
Construction and land development | 53,694 | 9.1 | 45,136 | 7.8 | ||||||||||||||||||||||||
Land | 31,464 | 5.3 | 31,144 | 5.4 | ||||||||||||||||||||||||
Total mortgage loans | 533,883 | 90.5 | 522,983 | 90.3 | ||||||||||||||||||||||||
Consumer loans: | ||||||||||||||||||||||||||||
Home equity and second mortgage | 32,201 | 5.5 | 33,014 | 5.7 | ||||||||||||||||||||||||
Other | 5,963 | 1 | 5,981 | 1 | ||||||||||||||||||||||||
Total consumer loans | 38,164 | 6.5 | 38,995 | 6.7 | ||||||||||||||||||||||||
Commercial business loans | 17,732 | 3 | 17,499 | 3 | ||||||||||||||||||||||||
Total loans receivable | 589,779 | 100 | % | 579,477 | 100 | % | ||||||||||||||||||||||
Less: | ||||||||||||||||||||||||||||
Undisbursed portion of construction | (21,362 | ) | (18,527 | ) | ||||||||||||||||||||||||
loans in process | ||||||||||||||||||||||||||||
Deferred loan origination fees | (1,768 | ) | (1,710 | ) | ||||||||||||||||||||||||
Allowance for loan losses | (10,745 | ) | (11,136 | ) | ||||||||||||||||||||||||
Total loans receivable, net | $ | 555,904 | $ | 548,104 | ||||||||||||||||||||||||
________________________ | ||||||||||||||||||||||||||||
(1) Includes loans held for sale. | ||||||||||||||||||||||||||||
Construction and Land Development Loan Portfolio Composition | ||||||||||||||||||||||||||||
The following table sets forth the composition of the Company’s construction and land development loan portfolio at December 31, 2013 and September 30, 2013 (dollars in thousands): | ||||||||||||||||||||||||||||
December 31, | September 30, | |||||||||||||||||||||||||||
2013 | 2013 | |||||||||||||||||||||||||||
Amount | Percent | Amount | Percent | |||||||||||||||||||||||||
Custom and owner/builder | $ | 46,789 | 87.1 | % | $ | 40,811 | 90.4 | % | ||||||||||||||||||||
Speculative one- to four-family | 2,104 | 3.9 | 1,428 | 3.2 | ||||||||||||||||||||||||
Commercial real estate | 4,467 | 8.3 | 2,239 | 5 | ||||||||||||||||||||||||
Multi-family | 143 | 0.3 | 143 | 0.3 | ||||||||||||||||||||||||
(including condominiums) | ||||||||||||||||||||||||||||
Land development | 190 | 0.4 | 515 | 1.1 | ||||||||||||||||||||||||
Total construction and | $ | 53,693 | 100 | % | $ | 45,136 | 100 | % | ||||||||||||||||||||
land development loans | ||||||||||||||||||||||||||||
Allowance for Loan Losses | ||||||||||||||||||||||||||||
The following tables set forth information for the three months ended December 31, 2013 and 2012 regarding activity in the allowance for loan losses (dollars in thousands): | ||||||||||||||||||||||||||||
Three Months Ended December 31, 2013 | ||||||||||||||||||||||||||||
Beginning | Provision | Charge- | Recoveries | Ending | ||||||||||||||||||||||||
Allowance | /(Credit) | offs | Allowance | |||||||||||||||||||||||||
Mortgage loans: | ||||||||||||||||||||||||||||
One-to four-family | $ | 1,449 | $ | 214 | $ | 350 | $ | 8 | $ | 1,321 | ||||||||||||||||||
Multi-family | 749 | (198 | ) | — | — | 551 | ||||||||||||||||||||||
Commercial | 5,275 | 130 | 295 | 3 | 5,113 | |||||||||||||||||||||||
Construction – custom and owner/builder | 262 | 70 | — | — | 332 | |||||||||||||||||||||||
Construction – speculative one- to four-family | 96 | 22 | — | — | 118 | |||||||||||||||||||||||
Construction – commercial | 56 | 24 | — | — | 80 | |||||||||||||||||||||||
Construction – multi-family | — | — | — | — | — | |||||||||||||||||||||||
Construction – land development | — | (69 | ) | — | 69 | — | ||||||||||||||||||||||
Land | 1,940 | (282 | ) | 93 | 300 | 1,865 | ||||||||||||||||||||||
Consumer loans: | ||||||||||||||||||||||||||||
Home equity and second mortgage | 782 | 55 | 28 | — | 809 | |||||||||||||||||||||||
Other | 200 | 8 | — | — | 208 | |||||||||||||||||||||||
Commercial business loans | 327 | 26 | 14 | 9 | 348 | |||||||||||||||||||||||
Total | $ | 11,136 | $ | — | $ | 780 | $ | 389 | $ | 10,745 | ||||||||||||||||||
Three Months Ended December 31, 2012 | ||||||||||||||||||||||||||||
Beginning | Provision | Charge- | Recoveries | Ending | ||||||||||||||||||||||||
Allowance | /(Credit) | offs | Allowance | |||||||||||||||||||||||||
Mortgage loans: | ||||||||||||||||||||||||||||
One-to four-family | $ | 1,558 | $ | 533 | $ | 263 | $ | 1 | $ | 1,829 | ||||||||||||||||||
Multi-family | 1,156 | -212 | — | 1 | 945 | |||||||||||||||||||||||
Commercial | 4,247 | 216 | — | — | 4,463 | |||||||||||||||||||||||
Construction – custom and owner/builder | 386 | -92 | — | — | 294 | |||||||||||||||||||||||
Construction – speculative one- to four-family | 128 | 4 | — | — | 132 | |||||||||||||||||||||||
Construction – commercial | 429 | -58 | — | — | 371 | |||||||||||||||||||||||
Construction – multi-family | — | — | — | — | — | |||||||||||||||||||||||
Construction – land development | — | -120 | 6 | 146 | 20 | |||||||||||||||||||||||
Land | 2,392 | 101 | 209 | 1 | 2,285 | |||||||||||||||||||||||
Consumer loans: | ||||||||||||||||||||||||||||
Home equity and second mortgage | 759 | -19 | 18 | — | 722 | |||||||||||||||||||||||
Other | 254 | -5 | — | — | 249 | |||||||||||||||||||||||
Commercial business loans | 516 | -148 | — | 91 | 459 | |||||||||||||||||||||||
Total | $ | 11,825 | $ | 200 | $ | 496 | $ | 240 | $ | 11,769 | ||||||||||||||||||
The following table presents information on the loans evaluated individually for impairment and collectively evaluated for impairment in the allowance for loan losses at December 31, 2013 and September 30, 2013 (dollars in thousands): | ||||||||||||||||||||||||||||
Allowance for Loan Losses | Recorded Investment in Loans | |||||||||||||||||||||||||||
Individually | Collectively | Total | Individually | Collectively | Total | |||||||||||||||||||||||
Evaluated for | Evaluated for | Evaluated for | Evaluated for | |||||||||||||||||||||||||
Impairment | Impairment | Impairment | Impairment | |||||||||||||||||||||||||
31-Dec-13 | ||||||||||||||||||||||||||||
Mortgage loans: | ||||||||||||||||||||||||||||
One- to four-family | $ | 440 | $ | 881 | $ | 1,321 | $ | 8,173 | $ | 92,696 | $ | 100,869 | ||||||||||||||||
Multi-family | 131 | 420 | 551 | 4,934 | 43,278 | 48,212 | ||||||||||||||||||||||
Commercial | 1,515 | 3,598 | 5,113 | 18,012 | 281,632 | 299,644 | ||||||||||||||||||||||
Construction – custom and owner/builder | — | 332 | 332 | — | 27,357 | 27,357 | ||||||||||||||||||||||
Construction – speculative one- to four-family | 84 | 34 | 118 | 686 | 906 | 1,592 | ||||||||||||||||||||||
Construction – commercial | — | 80 | 80 | — | 3,050 | 3,050 | ||||||||||||||||||||||
Construction – multi-family | — | — | — | 143 | — | 143 | ||||||||||||||||||||||
Construction – land development | — | — | — | 190 | — | 190 | ||||||||||||||||||||||
Land | 368 | 1,497 | 1,865 | 5,614 | 25,850 | 31,464 | ||||||||||||||||||||||
Consumer loans: | ||||||||||||||||||||||||||||
Home equity and second mortgage | 55 | 754 | 809 | 525 | 31,676 | 32,201 | ||||||||||||||||||||||
Other | — | 208 | 208 | 5 | 5,958 | 5,963 | ||||||||||||||||||||||
Commercial business loans | — | 348 | 348 | 5 | 17,727 | 17,732 | ||||||||||||||||||||||
Total | $ | 2,593 | $ | 8,152 | $ | 10,745 | $ | 38,287 | $ | 530,130 | $ | 568,417 | ||||||||||||||||
30-Sep-13 | ||||||||||||||||||||||||||||
Mortgage loans: | ||||||||||||||||||||||||||||
One- to four-family | $ | 600 | $ | 849 | $ | 1,449 | $ | 8,984 | $ | 95,314 | $ | 104,298 | ||||||||||||||||
Multi-family | 334 | 415 | 749 | 5,184 | 45,924 | 51,108 | ||||||||||||||||||||||
Commercial | 1,763 | 3,512 | 5,275 | 19,510 | 271,787 | 291,297 | ||||||||||||||||||||||
Construction – custom and owner/builder | — | 262 | 262 | — | 22,788 | 22,788 | ||||||||||||||||||||||
Construction – speculative one- to four-family | 88 | 8 | 96 | 687 | 236 | 923 | ||||||||||||||||||||||
Construction – commercial | — | 56 | 56 | — | 2,239 | 2,239 | ||||||||||||||||||||||
Construction – multi-family | — | — | — | 143 | 1 | 144 | ||||||||||||||||||||||
Construction – land development | — | — | — | 515 | — | 515 | ||||||||||||||||||||||
Land | 234 | 1,706 | 1,940 | 2,391 | 28,753 | 31,144 | ||||||||||||||||||||||
Consumer loans: | ||||||||||||||||||||||||||||
Home equity and second mortgage | 57 | 725 | 782 | 679 | 32,335 | 33,014 | ||||||||||||||||||||||
Other | — | 200 | 200 | 6 | 5,975 | 5,981 | ||||||||||||||||||||||
Commercial business loans | — | 327 | 327 | — | 17,499 | 17,499 | ||||||||||||||||||||||
Total | $ | 3,076 | $ | 8,060 | $ | 11,136 | $ | 38,099 | $ | 522,851 | $ | 560,950 | ||||||||||||||||
Credit Quality Indicators | ||||||||||||||||||||||||||||
The Company uses credit risk grades which reflect the Company’s assessment of a loan’s risk or loss potential. The Company categorizes loans into risk grade categories based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, credit documentation, public information and current economic trends, among other factors such as the estimated fair value of the collateral. The Company uses the following definitions for credit risk ratings as part of the ongoing monitoring of the credit quality of its loan portfolio: | ||||||||||||||||||||||||||||
Pass: Pass loans are defined as those loans that meet acceptable quality underwriting standards. | ||||||||||||||||||||||||||||
Watch: Watch loans are defined as those loans that still exhibit acceptable quality, but have some concerns that justify greater attention. If these concerns are not corrected, a potential for further adverse categorization exists. These concerns could relate to a specific condition peculiar to the borrower, its industry segment or the general economic environment. | ||||||||||||||||||||||||||||
Special Mention: Special mention loans are defined as those loans deemed by management to have some potential weaknesses that deserve management’s close attention. If left uncorrected, these potential weaknesses may result in the deterioration of the payment prospects of the loan. Assets in this category do not expose the Company to sufficient risk to warrant a substandard classification. | ||||||||||||||||||||||||||||
Substandard: Substandard loans are defined as those loans that are inadequately protected by the current net worth and paying capacity of the obligor, or of the collateral pledged. Loans classified as substandard have a well-defined weakness or weaknesses that jeopardize the repayment of the debt. If the weakness or weaknesses are not corrected, there is the distinct possibility that some loss will be sustained. | ||||||||||||||||||||||||||||
Loss: Loans in this classification are considered uncollectible and of such little value that continuance as bankable assets is not warranted. This classification does not mean that the loan has absolutely no recovery or salvage value, but rather it is not practical or desirable to defer writing off this loan even though partial recovery may be realized in the future. | ||||||||||||||||||||||||||||
The following table lists the loan credit risk grades utilized by the Company that serve as credit quality indicators at December 31, 2013 and September 30, 2013 (dollars in thousands): | ||||||||||||||||||||||||||||
31-Dec-13 | Loan Grades | |||||||||||||||||||||||||||
Pass | Watch | Special | Substandard | Total | ||||||||||||||||||||||||
Mention | ||||||||||||||||||||||||||||
Mortgage loans: | ||||||||||||||||||||||||||||
One- to four-family | $ | 90,870 | $ | 735 | $ | 2,015 | $ | 7,249 | $ | 100,869 | ||||||||||||||||||
Multi-family | 39,365 | — | 8,073 | 774 | 48,212 | |||||||||||||||||||||||
Commercial | 272,616 | 3,072 | 16,459 | 7,497 | 299,644 | |||||||||||||||||||||||
Construction – custom and owner/builder | 27,357 | — | — | — | 27,357 | |||||||||||||||||||||||
Construction – speculative one- to four-family | 906 | 686 | — | — | 1,592 | |||||||||||||||||||||||
Construction – commercial | 3,050 | — | — | — | 3,050 | |||||||||||||||||||||||
Construction – multi-family | — | — | — | 143 | 143 | |||||||||||||||||||||||
Construction – land development | — | — | — | 190 | 190 | |||||||||||||||||||||||
Land | 22,404 | 160 | 2,516 | 6,384 | 31,464 | |||||||||||||||||||||||
Consumer loans: | ||||||||||||||||||||||||||||
Home equity and second mortgage | 30,241 | 846 | 203 | 911 | 32,201 | |||||||||||||||||||||||
Other | 5,919 | 39 | — | 5 | 5,963 | |||||||||||||||||||||||
Commercial business loans | 17,564 | 62 | 101 | 5 | 17,732 | |||||||||||||||||||||||
Total | $ | 510,292 | $ | 5,600 | $ | 29,367 | $ | 23,158 | $ | 568,417 | ||||||||||||||||||
30-Sep-13 | ||||||||||||||||||||||||||||
Mortgage loans: | ||||||||||||||||||||||||||||
One- to four-family | $ | 91,291 | $ | 4,032 | $ | 769 | $ | 8,206 | $ | 104,298 | ||||||||||||||||||
Multi-family | 41,863 | 132 | 8,337 | 776 | 51,108 | |||||||||||||||||||||||
Commercial | 262,502 | 3,309 | 12,522 | 12,964 | 291,297 | |||||||||||||||||||||||
Construction – custom and owner/builder | 22,788 | — | — | — | 22,788 | |||||||||||||||||||||||
Construction – speculative one- to four-family | 236 | 687 | — | — | 923 | |||||||||||||||||||||||
Construction – commercial | 2,239 | — | — | — | 2,239 | |||||||||||||||||||||||
Construction – multi-family | — | — | — | 144 | 144 | |||||||||||||||||||||||
Construction – land development | — | — | — | 515 | 515 | |||||||||||||||||||||||
Land | 20,627 | 5,101 | 1,129 | 4,287 | 31,144 | |||||||||||||||||||||||
Consumer loans: | ||||||||||||||||||||||||||||
Home equity and second mortgage | 31,096 | 782 | 55 | 1,081 | 33,014 | |||||||||||||||||||||||
Other | 5,937 | 39 | — | 5 | 5,981 | |||||||||||||||||||||||
Commercial business loans | 17,029 | 366 | 104 | — | 17,499 | |||||||||||||||||||||||
Total | $ | 495,608 | $ | 14,448 | $ | 22,916 | $ | 27,978 | $ | 560,950 | ||||||||||||||||||
The following tables present an age analysis of past due status of loans by category at December 31, 2013 and September 30, 2013 (dollars in thousands): | ||||||||||||||||||||||||||||
30–59 | 60-89 | Non- | Past Due | Total | Current | Total | ||||||||||||||||||||||
Days | Days | Accrual | 90 Days | Past Due | Loans | |||||||||||||||||||||||
Past Due | Past Due | or More | ||||||||||||||||||||||||||
and Still | ||||||||||||||||||||||||||||
Accruing | ||||||||||||||||||||||||||||
31-Dec-13 | ||||||||||||||||||||||||||||
Mortgage loans: | ||||||||||||||||||||||||||||
One- to four-family | $ | — | $ | 645 | $ | 6,184 | $ | — | $ | 6,829 | $ | 94,040 | $ | 100,869 | ||||||||||||||
Multi-family | — | — | — | — | — | 48,212 | 48,212 | |||||||||||||||||||||
Commercial | 169 | — | 2,017 | — | 2,186 | 297,458 | 299,644 | |||||||||||||||||||||
Construction – custom and owner/builder | — | 600 | — | — | 600 | 26,757 | 27,357 | |||||||||||||||||||||
Construction – speculative one- to four- family | — | 686 | — | — | 686 | 906 | 1,592 | |||||||||||||||||||||
Construction – commercial | — | — | — | — | — | 3,050 | 3,050 | |||||||||||||||||||||
Construction – multi-family | — | — | 143 | — | 143 | — | 143 | |||||||||||||||||||||
Construction – land development | — | — | 190 | — | 190 | — | 190 | |||||||||||||||||||||
Land | 166 | 849 | 5,371 | — | 6,386 | 25,078 | 31,464 | |||||||||||||||||||||
Consumer loans: | ||||||||||||||||||||||||||||
Home equity and second mortgage | — | 23 | 226 | 153 | 402 | 31,799 | 32,201 | |||||||||||||||||||||
Other | 52 | 54 | 5 | — | 111 | 5,852 | 5,963 | |||||||||||||||||||||
Commercial business loans | 83 | 172 | 5 | — | 260 | 17,472 | 17,732 | |||||||||||||||||||||
Total | $ | 470 | $ | 3,029 | $ | 14,141 | $ | 153 | $ | 17,793 | $ | 550,624 | $ | 568,417 | ||||||||||||||
30-Sep-13 | ||||||||||||||||||||||||||||
Mortgage loans: | ||||||||||||||||||||||||||||
One- to four-family | $ | 14 | $ | 1,218 | $ | 6,985 | $ | — | $ | 8,217 | $ | 96,081 | $ | 104,298 | ||||||||||||||
Multi-family | — | — | — | — | — | 51,108 | 51,108 | |||||||||||||||||||||
Commercial | — | 2,537 | 3,435 | — | 5,972 | 285,325 | 291,297 | |||||||||||||||||||||
Construction – custom and owner/ | — | — | — | — | — | 22,788 | 22,788 | |||||||||||||||||||||
builder | ||||||||||||||||||||||||||||
Construction – speculative one- to four- family | — | — | — | — | — | 923 | 923 | |||||||||||||||||||||
Construction – commercial | — | — | — | — | — | 2,239 | 2,239 | |||||||||||||||||||||
Construction – multi-family | — | — | 144 | — | 144 | — | 144 | |||||||||||||||||||||
Construction – land development | — | — | 515 | — | 515 | — | 515 | |||||||||||||||||||||
Land | — | — | 2,146 | 284 | 2,430 | 28,714 | 31,144 | |||||||||||||||||||||
Consumer loans: | ||||||||||||||||||||||||||||
Home equity and second mortgage | 101 | 20 | 380 | 152 | 653 | 32,361 | 33,014 | |||||||||||||||||||||
Other | 1 | 39 | 5 | — | 45 | 5,936 | 5,981 | |||||||||||||||||||||
Commercial business loans | 83 | 15 | — | — | 98 | 17,401 | 17,499 | |||||||||||||||||||||
Total | $ | 199 | $ | 3,829 | $ | 13,610 | $ | 436 | $ | 18,074 | $ | 542,876 | $ | 560,950 | ||||||||||||||
Impaired Loans | ||||||||||||||||||||||||||||
A loan is considered impaired when it is probable that the Company will be unable to collect all contractual principal and interest payments due in accordance with the original or modified terms of the loan agreement. Impaired loans are measured based on the estimated fair value of the collateral less estimated cost to sell if the loan is considered collateral dependent. Impaired loans that are not considered to be collateral dependent are measured based on the present value of expected future cash flows. | ||||||||||||||||||||||||||||
The categories of non-accrual loans and impaired loans overlap, although they are not coextensive. The Company considers all circumstances regarding the loan and borrower on an individual basis when determining whether an impaired loan should be placed on non-accrual status, such as the financial strength of the borrower, the estimated collateral value, reasons for the delay, payment record, the amount past due and the number of days past due. | ||||||||||||||||||||||||||||
Following is a summary of information related to impaired loans as of December 31, 2013 and for the three months then ended (in thousands): | ||||||||||||||||||||||||||||
Recorded | Unpaid Principal Balance (Loan Balance Plus Charge Off) | Related | YTD Average Recorded Investment (1) | YTD Interest Income Recognized (1) | YTD Cash Basis Interest Income Recognized (1) | |||||||||||||||||||||||
Investment | Allowance | |||||||||||||||||||||||||||
With no related allowance recorded: | ||||||||||||||||||||||||||||
Mortgage loans: | ||||||||||||||||||||||||||||
One- to four-family | $ | 5,328 | $ | 5,983 | $ | — | $ | 3,424 | $ | — | $ | — | ||||||||||||||||
Multi-family | — | 982 | — | 473 | — | — | ||||||||||||||||||||||
Commercial | 5,208 | 8,335 | — | 8,303 | 66 | 87 | ||||||||||||||||||||||
Construction – custom and owner/builder | — | — | — | 55 | — | — | ||||||||||||||||||||||
Construction – speculative one- to four-family | — | — | — | — | — | — | ||||||||||||||||||||||
Construction – multi-family | 143 | 608 | — | 253 | — | — | ||||||||||||||||||||||
Construction – land development | 190 | 2,060 | — | 454 | — | — | ||||||||||||||||||||||
Land | 948 | 1,600 | — | 2,511 | 2 | 3 | ||||||||||||||||||||||
Consumer loans: | ||||||||||||||||||||||||||||
Home equity and second mortgage | 226 | 430 | — | 259 | — | — | ||||||||||||||||||||||
Other | 5 | 5 | — | 8 | — | — | ||||||||||||||||||||||
Commercial business loans | 5 | 44 | — | 1 | — | — | ||||||||||||||||||||||
Subtotal | 12,053 | 20,047 | — | 15,741 | 68 | 90 | ||||||||||||||||||||||
With an allowance recorded: | ||||||||||||||||||||||||||||
Mortgage loans: | ||||||||||||||||||||||||||||
One- to four-family | 2,845 | 2,845 | 440 | 4,211 | 21 | 28 | ||||||||||||||||||||||
Multi-family | 4,934 | 4,934 | 131 | 5,571 | 52 | 69 | ||||||||||||||||||||||
Commercial | 12,804 | 12,804 | 1,515 | 9,693 | 135 | 164 | ||||||||||||||||||||||
Construction – custom and owner/builder | — | — | — | 40 | — | — | ||||||||||||||||||||||
Construction – speculative one- to four-family | 686 | 686 | 84 | 692 | 7 | 11 | ||||||||||||||||||||||
Construction – multi-family | — | — | — | — | — | — | ||||||||||||||||||||||
Construction - land development | — | — | — | — | — | — | ||||||||||||||||||||||
Land | 4,666 | 4,677 | 368 | 2,370 | 6 | 6 | ||||||||||||||||||||||
Consumer loans: | ||||||||||||||||||||||||||||
Home equity and second mortgage | 299 | 299 | 55 | 351 | 3 | 4 | ||||||||||||||||||||||
Other | — | — | — | — | — | — | ||||||||||||||||||||||
Commercial business loans | — | — | — | — | — | — | ||||||||||||||||||||||
Subtotal | 26,234 | 26,245 | 2,593 | 22,928 | 224 | 282 | ||||||||||||||||||||||
Total | ||||||||||||||||||||||||||||
Mortgage loans: | ||||||||||||||||||||||||||||
One- to four-family | $ | 8,173 | $ | 8,828 | $ | 440 | $ | 7,635 | $ | 21 | $ | 28 | ||||||||||||||||
Multi-family | 4,934 | 5,916 | 131 | 6,044 | 52 | 69 | ||||||||||||||||||||||
Commercial | 18,012 | 21,139 | 1,515 | 17,996 | 201 | 251 | ||||||||||||||||||||||
Construction – custom and owner/builder | — | — | — | 95 | — | — | ||||||||||||||||||||||
Construction – speculative one- to four-family | 686 | 686 | 84 | 692 | 7 | 11 | ||||||||||||||||||||||
Construction – multi-family | 143 | 608 | — | 253 | — | — | ||||||||||||||||||||||
Construction – land development | 190 | 2,060 | — | 454 | — | — | ||||||||||||||||||||||
Land | 5,614 | 6,277 | 368 | 4,881 | 8 | 9 | ||||||||||||||||||||||
Consumer loans: | — | |||||||||||||||||||||||||||
Home equity and second mortgage | 525 | 729 | 55 | 610 | 3 | 4 | ||||||||||||||||||||||
Other | 5 | 5 | — | 8 | — | — | ||||||||||||||||||||||
Commercial business loans | 5 | 44 | — | 1 | — | — | ||||||||||||||||||||||
Total | $ | 38,287 | $ | 46,292 | $ | 2,593 | $ | 38,669 | $ | 292 | $ | 372 | ||||||||||||||||
________________________________________________ | ||||||||||||||||||||||||||||
-1 | For the three months ended December 31, 2013 | |||||||||||||||||||||||||||
The following is a summary of information related to impaired loans as of and for the year ended September 30, 2013 (in thousands): | ||||||||||||||||||||||||||||
Recorded | Unpaid Principal Balance (Loan Balance Plus Charge Off) | Related | YTD | YTD Interest | YTD Cash Basis Interest Income Recognized (1) | |||||||||||||||||||||||
Investment | Allowance | Average | Income | |||||||||||||||||||||||||
Recorded | Recognized | |||||||||||||||||||||||||||
Investment (1) | -1 | |||||||||||||||||||||||||||
With no related allowance recorded: | ||||||||||||||||||||||||||||
Mortgage loans: | ||||||||||||||||||||||||||||
One- to four-family | $ | 5,342 | $ | 5,775 | $ | — | $ | 2,661 | $ | 18 | $ | 13 | ||||||||||||||||
Multi-family | — | 982 | — | 473 | 3 | 3 | ||||||||||||||||||||||
Commercial | 4,879 | 8,005 | — | 8,781 | 322 | 267 | ||||||||||||||||||||||
Construction – custom and owner/builder | — | — | — | 97 | — | — | ||||||||||||||||||||||
Construction – speculative one- to four-family | — | — | — | 65 | — | — | ||||||||||||||||||||||
Construction – multi-family | 143 | 608 | — | 293 | — | — | ||||||||||||||||||||||
Construction – land development | 515 | 3,279 | — | 534 | — | — | ||||||||||||||||||||||
Land | 1,188 | 2,133 | — | 3,519 | 9 | 8 | ||||||||||||||||||||||
Consumer loans: | ||||||||||||||||||||||||||||
Home equity and second mortgage | 380 | 556 | — | 266 | — | — | ||||||||||||||||||||||
Other | 6 | 6 | — | 8 | — | — | ||||||||||||||||||||||
Commercial business loans | — | 33 | — | — | — | — | ||||||||||||||||||||||
Subtotal | 12,453 | 21,377 | — | 16,697 | 352 | 291 | ||||||||||||||||||||||
With an allowance recorded: | ||||||||||||||||||||||||||||
Mortgage loans: | ||||||||||||||||||||||||||||
One- to four-family | 3,642 | 3,726 | 600 | 4,397 | 91 | 68 | ||||||||||||||||||||||
Multi-family | 5,184 | 5,184 | 334 | 5,960 | 301 | 230 | ||||||||||||||||||||||
Commercial | 14,631 | 15,297 | 1,763 | 9,052 | 526 | 420 | ||||||||||||||||||||||
Construction – custom and owner/builder | — | — | — | 60 | — | — | ||||||||||||||||||||||
Construction – speculative one- to four-family | 687 | 687 | 88 | 695 | 29 | 16 | ||||||||||||||||||||||
Construction – multi-family | — | — | — | — | — | — | ||||||||||||||||||||||
Land | 1,203 | 1,226 | 234 | 1,962 | 27 | 27 | ||||||||||||||||||||||
Consumer loans: | ||||||||||||||||||||||||||||
Home equity and second mortgage | 299 | 299 | 57 | 352 | 16 | 12 | ||||||||||||||||||||||
Other | — | — | — | — | — | — | ||||||||||||||||||||||
Subtotal | 25,646 | 26,419 | 3,076 | 22,478 | 990 | 773 | ||||||||||||||||||||||
Total | ||||||||||||||||||||||||||||
Mortgage loans: | ||||||||||||||||||||||||||||
One- to four-family | 8,984 | 9,501 | 600 | 7,058 | 109 | 81 | ||||||||||||||||||||||
Multi-family | 5,184 | 6,166 | 334 | 6,433 | 304 | 233 | ||||||||||||||||||||||
Commercial | 19,510 | 23,302 | 1,763 | 17,833 | 848 | 687 | ||||||||||||||||||||||
Construction – custom and owner/builder | — | — | — | 157 | — | — | ||||||||||||||||||||||
Construction – speculative one- to four-family | 687 | 687 | 88 | 760 | 29 | 16 | ||||||||||||||||||||||
Construction – multi-family | 143 | 608 | — | 293 | — | — | ||||||||||||||||||||||
Construction – land development | 515 | 3,279 | — | 534 | — | — | ||||||||||||||||||||||
Land | 2,391 | 3,359 | 234 | 5,481 | 36 | 35 | ||||||||||||||||||||||
Consumer loans: | ||||||||||||||||||||||||||||
Home equity and second mortgage | 679 | 855 | 57 | 618 | 16 | 12 | ||||||||||||||||||||||
Other | 6 | 6 | — | 8 | — | — | ||||||||||||||||||||||
Commercial business loans | — | 33 | — | — | — | — | ||||||||||||||||||||||
Total | $ | 38,099 | $ | 47,796 | $ | 3,076 | $ | 39,175 | $ | 1,342 | $ | 1,064 | ||||||||||||||||
______________________________________________ | ||||||||||||||||||||||||||||
(1) For the year ended September 30, 2013 | ||||||||||||||||||||||||||||
The following table sets forth information with respect to the Company’s non-performing assets at December 31, 2013 and September 30, 2013 (dollars in thousands): | ||||||||||||||||||||||||||||
December 31, | September 30, | |||||||||||||||||||||||||||
2013 | 2013 | |||||||||||||||||||||||||||
Loans accounted for on a non-accrual basis: | ||||||||||||||||||||||||||||
Mortgage loans: | ||||||||||||||||||||||||||||
One- to four-family | $ | 6,184 | $ | 6,985 | ||||||||||||||||||||||||
Multi-family | — | — | ||||||||||||||||||||||||||
Commercial | 2,017 | 3,435 | ||||||||||||||||||||||||||
Construction – custom and owner/builder | — | — | ||||||||||||||||||||||||||
Construction – speculative one- to four-family | — | — | ||||||||||||||||||||||||||
Construction – multi-family | 143 | 144 | ||||||||||||||||||||||||||
Construction – land development | 190 | 515 | ||||||||||||||||||||||||||
Land | 5,371 | 2,146 | ||||||||||||||||||||||||||
Consumer loans: | ||||||||||||||||||||||||||||
Home equity and second mortgage | 226 | 380 | ||||||||||||||||||||||||||
Other | 5 | 5 | ||||||||||||||||||||||||||
Commercial business loans | 5 | — | ||||||||||||||||||||||||||
Total loans accounted for on a non-accrual basis | 14,141 | 13,610 | ||||||||||||||||||||||||||
Accruing loans which are contractually | 153 | 436 | ||||||||||||||||||||||||||
past due 90 days or more | ||||||||||||||||||||||||||||
Total of non-accrual and 90 days past due loans | 14,294 | 14,046 | ||||||||||||||||||||||||||
Non-accrual investment securities | 2,092 | 2,187 | ||||||||||||||||||||||||||
OREO and other repossessed assets, net | 12,483 | 11,720 | ||||||||||||||||||||||||||
Total non-performing assets (1) | $ | 28,869 | $ | 27,953 | ||||||||||||||||||||||||
Troubled debt restructured loans on accrual status (2) | $ | 18,260 | $ | 18,573 | ||||||||||||||||||||||||
Non-accrual and 90 days or more past | 2.52 | % | 2.51 | % | ||||||||||||||||||||||||
due loans as a percentage of loans receivable | ||||||||||||||||||||||||||||
Non-accrual and 90 days or more past | 1.96 | % | 1.88 | % | ||||||||||||||||||||||||
due loans as a percentage of total assets | ||||||||||||||||||||||||||||
Non-performing assets as a percentage of total assets | 3.97 | % | 3.75 | % | ||||||||||||||||||||||||
Loans receivable (3) | $ | 566,649 | $ | 559,240 | ||||||||||||||||||||||||
Total assets | $ | 727,933 | $ | 745,648 | ||||||||||||||||||||||||
___________________________________ | ||||||||||||||||||||||||||||
(1) Does not include troubled debt restructured loans on accrual status. | ||||||||||||||||||||||||||||
(2) Does not include troubled debt restructured loans totaling $3.2 million and $4.0 million reported as non-accrual loans at December 31, 2013 and September 30, 2013, respectively. | ||||||||||||||||||||||||||||
(3) Includes loans held for sale and before the allowance for loan losses. | ||||||||||||||||||||||||||||
Troubled debt restructured loans are loans for which the Company, for economic or legal reasons related to the borrower’s financial condition, has granted a significant concession to the borrower that it would otherwise not consider. The loan terms which have been modified or restructured due to a borrower’s financial difficulty include but are not limited to: a reduction in the stated interest rate; an extension of the maturity at an interest rate below current market; a reduction in the face amount of the debt; a reduction in the accrued interest; or re-aging, extensions, deferrals and renewals. Troubled debt restructured loans are considered impaired loans and are individually evaluated for impairment. Troubled debt restructured loans can be classified as either accrual or non-accrual. Troubled debt restructured loans are classified as non-performing loans unless they have been performing in accordance with modified terms for a period of at least six months. The Company had $21.44 million in troubled debt restructured loans included in impaired loans at December 31, 2013 and had $1,000 in commitments to lend additional funds on these loans. The Company had $22.60 million in troubled debt restructured loans included in impaired loans at September 30, 2013 and had $1,000 in commitments to lend additional funds on these loans. The allowance for loan losses allocated to troubled debt restructured loans at December 31, 2013 and September 30, 2013 was $2.01 million and $2.37 million, respectively. | ||||||||||||||||||||||||||||
The following table sets forth information with respect to the Company’s troubled debt restructured loans by interest accrual status as of December 31, 2013 and September 30, 2013 (dollars in thousands): | ||||||||||||||||||||||||||||
31-Dec-13 | ||||||||||||||||||||||||||||
Accruing | Non- | Total | ||||||||||||||||||||||||||
Accrual | ||||||||||||||||||||||||||||
Mortgage loans: | ||||||||||||||||||||||||||||
One- to four-family | $ | 1,989 | $ | 195 | $ | 2,184 | ||||||||||||||||||||||
Multi-family | 4,934 | — | 4,934 | |||||||||||||||||||||||||
Commercial | 10,109 | 1,547 | 11,656 | |||||||||||||||||||||||||
Construction – speculative one- to four-family | 686 | — | 686 | |||||||||||||||||||||||||
Construction – land development | — | 190 | 190 | |||||||||||||||||||||||||
Land | 243 | 1,092 | 1,335 | |||||||||||||||||||||||||
Consumer loans: | ||||||||||||||||||||||||||||
Home equity and second mortgage | 299 | 152 | 451 | |||||||||||||||||||||||||
Total | $ | 18,260 | $ | 3,176 | $ | 21,436 | ||||||||||||||||||||||
30-Sep-13 | ||||||||||||||||||||||||||||
Accruing | Non- | Total | ||||||||||||||||||||||||||
Accrual | ||||||||||||||||||||||||||||
Mortgage loans: | ||||||||||||||||||||||||||||
One- to four-family | $ | 1,999 | $ | 198 | $ | 2,197 | ||||||||||||||||||||||
Multi-family | 5,184 | — | 5,184 | |||||||||||||||||||||||||
Commercial | 10,160 | 1,574 | 11,734 | |||||||||||||||||||||||||
Construction – speculative one- to four-family | 687 | — | 687 | |||||||||||||||||||||||||
Construction – land development | — | 515 | 515 | |||||||||||||||||||||||||
Land | 244 | 1,564 | 1,808 | |||||||||||||||||||||||||
Consumer loans: | ||||||||||||||||||||||||||||
Home equity and second mortgage | 299 | 180 | 479 | |||||||||||||||||||||||||
Total | $ | 18,573 | $ | 4,031 | $ | 22,604 | ||||||||||||||||||||||
There were no new troubled debt restructured loans during the three months ended December 31, 2013. The following table sets forth information with respect to the Company’s troubled debt restructured loans by portfolio segment that occurred during the year ended September 30, 2013 (dollars in thousands): | ||||||||||||||||||||||||||||
September 30, 2013 | Number of | Pre-Modification | Post- Modification | End of | ||||||||||||||||||||||||
Contracts | Outstanding | Outstanding | Period | |||||||||||||||||||||||||
Recorded | Recorded | Balance | ||||||||||||||||||||||||||
Investment | Investment | |||||||||||||||||||||||||||
One-to four-family (1) | 2 | $ | 353 | $ | 353 | $ | 350 | |||||||||||||||||||||
Commercial (2) | 2 | 2,327 | 2,327 | 2,318 | ||||||||||||||||||||||||
Total | 4 | $ | 2,680 | $ | 2,680 | $ | 2,668 | |||||||||||||||||||||
___________________________ | ||||||||||||||||||||||||||||
-1 | Modifications were a result of a combination of changes (i.e., a reduction in the stated interest rate and an extension of the maturity at an interest rate below current market). | |||||||||||||||||||||||||||
(2) Modifications were a result of a reduction in the stated interest rate. |
Net_Income_Per_Common_Share
Net Income Per Common Share | 3 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Earnings Per Share [Abstract] | ' | |||||||
Net Income Per Common Share | ' | |||||||
NET INCOME PER COMMON SHARE | ||||||||
Basic net income per common share is computed by dividing net income to common shareholders by the weighted average number of common shares outstanding during the period, without considering any dilutive items. Diluted net income per common share is computed by dividing net income to common shareholders by the weighted average number of common shares and common stock equivalents for items that are dilutive, net of shares assumed to be repurchased using the treasury stock method at the average share price for the Company’s common stock during the period. The dividend and related accretion for the amount of the Company's Series A Preferred Stock outstanding for the respective period was deducted from net income in computing net income to common shareholders. Common stock equivalents arise from the assumed conversion of outstanding stock options and the outstanding warrant to purchase common stock. In accordance with the Financial Accounting Standards Board (“FASB”) guidance for stock compensation, shares owned by the Bank’s ESOP that have not been allocated are not considered to be outstanding for the purpose of computing basic and diluted net income per common share. At December 31, 2013 and 2012, there were 191,916 and 229,234 shares, respectively, that had not been allocated under the Bank’s ESOP. | ||||||||
Information regarding the calculation of basic and diluted net income per common share for the three months ended December 31, 2013 and 2012 is as follows (dollars in thousands, except per share amounts): | ||||||||
Three Months Ended December 31 | ||||||||
2013 | 2012 | |||||||
(Dollars in thousands, except for per share data) | ||||||||
Basic net income per common share computation | ||||||||
Numerator – net income | $ | 1,611 | $ | 1,708 | ||||
Preferred stock dividends | (136 | ) | (201 | ) | ||||
Preferred stock discount accretion | (70 | ) | (63 | ) | ||||
Net income to common shareholders | $ | 1,405 | $ | 1,444 | ||||
Denominator – weighted average | 6,853,683 | 6,815,782 | ||||||
common shares outstanding | ||||||||
Basic net income per common share | $ | 0.2 | $ | 0.21 | ||||
Diluted net income per common share computation | ||||||||
Numerator – net income | $ | 1,611 | $ | 1,708 | ||||
Preferred stock dividends | (136 | ) | (201 | ) | ||||
Preferred stock discount accretion | (70 | ) | (63 | ) | ||||
Net income to common shareholders | $ | 1,405 | $ | 1,444 | ||||
Denominator – weighted average | 6,853,683 | 6,815,782 | ||||||
common shares outstanding | ||||||||
Effect of dilutive stock options (1) | 29,596 | 5,224 | ||||||
Effect of dilutive stock warrant (2) | 95,106 | — | ||||||
Weighted average common shares | 6,978,385 | 6,821,006 | ||||||
and common stock equivalents | ||||||||
Diluted net income per common share | $ | 0.2 | $ | 0.21 | ||||
____________________________________________ | ||||||||
(1) For the three months ended December 31, 2013 and 2012, average options to purchase 125,198 and 212,152 shares of common stock, respectively, were outstanding but not included in the computation of diluted net income per common share because their effect would have been anti-dilutive. | ||||||||
(2) For the three months ended December 31, 2012, a warrant to purchase 370,899 shares of common stock was outstanding but not included in the computation of diluted net income per common share because the warrant's exercise price was greater than the average market price of the common stock, and, therefore, its effect would have been anti-dilutive. |
Stock_Plans_And_Stock_Based_Co
Stock Plans And Stock Based Compensation | 3 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Share-based Compensation [Abstract] | ' | |||||||||||||||
Stock Plans And Stock Based Compensation | ' | |||||||||||||||
STOCK PLANS AND STOCK BASED COMPENSATION | ||||||||||||||||
Stock Option Plans | ||||||||||||||||
Under the Company’s stock option plans (the 1999 Stock Option Plan and the 2003 Stock Option Plan), the Company was able to grant options for up to a combined total of 1,622,500 shares of common stock to employees, officers and directors. Shares issued may be purchased in the open market or may be issued from authorized and unissued shares. The exercise price of each option equals the fair market value of the Company’s common stock on the date of grant. Generally, options vest in 20% annual installments on each of the five anniversaries from the date of the grant. At December 31, 2013, options for 51,338 shares are available for future grant under the 2003 Stock Option Plan, and no shares are available for future grant under the 1999 Stock Option Plan. | ||||||||||||||||
Activity under the plans for the three months ended December 31, 2013 and 2012 is as follows: | ||||||||||||||||
Three Months Ended December 31, 2013 | Three Months Ended | |||||||||||||||
31-Dec-12 | ||||||||||||||||
Weighted | Weighted | |||||||||||||||
Average | Average | |||||||||||||||
Shares | Exercise | Shares | Exercise | |||||||||||||
Price | Price | |||||||||||||||
Options outstanding, beginning of period | 162,946 | $ | 6.96 | 195,626 | $ | 7.97 | ||||||||||
Exercised | (2,600 | ) | 4.59 | — | — | |||||||||||
Granted | 106,000 | 9 | 29,000 | 6 | ||||||||||||
Options outstanding, end of period | 266,346 | $ | 7.1 | 224,626 | $ | 7.71 | ||||||||||
Options exercisable, end of period | 83,946 | $ | 8.09 | 125,126 | $ | 9.54 | ||||||||||
The aggregate intrinsic value of options outstanding at December 31, 2013 was $569,000. | ||||||||||||||||
At December 31, 2013, there were 182,400 unvested options with an aggregate grant date fair value of $429,000, all of which the Company assumes will vest. The aggregate intrinsic value of unvested options at December 31, 2013 was $279,000. There were 14,600 options with an aggregate grant date fair value of $26,000 that vested during the three months ended December 31, 2013. | ||||||||||||||||
At December 31, 2012, there were 99,500 unvested options with an aggregate grant date fair value of $208,000. There were 8,800 options with an aggregate grant date fair value of $13,000 that vested during the three months ended December 31, 2012. | ||||||||||||||||
The Company uses the Black-Scholes option pricing model to estimate the fair value of stock-based awards with the weighted average assumptions noted in the following table. The risk-free interest rate is based on the U.S. Treasury rate of a similar term as the stock option at the particular grant date. The expected life is based on historical data, vesting terms and estimated exercise dates. The expected dividend yield is based on the most recent quarterly dividend on an annualized basis in effect at the time the options were granted, adjusted, if appropriate for management's expectations regarding future dividends. The expected volatility is based on historical volatility of the Company’s stock price. There were 106,000 options granted during the three months ended December 31, 2013 with an aggregate grant date fair value of $267,000. There were 29,000 options granted during the three months ended December 31, 2012 with an aggregate grant date fair value of $69,000. | ||||||||||||||||
The weighted average assumptions used for options granted during the three months ended December 31, 2013 and 2012 were: | ||||||||||||||||
2013 | 2012 | |||||||||||||||
Expected volatility | 39 | % | 45 | % | ||||||||||||
Expected term (in years) | 5 | 5 | ||||||||||||||
Expected dividend yield | 2.56 | % | — | % | ||||||||||||
Risk free interest rate | 1.35 | % | 0.76 | % | ||||||||||||
Grant date fair value per share | $ | 2.52 | $ | 2.37 | ||||||||||||
Stock Grant Plan | ||||||||||||||||
The Company adopted the MRDP in 1998 for the benefit of employees, officers and directors of the Company. The objective of the MRDP is to retain and attract personnel of experience and ability in key positions by providing them with a proprietary interest in the Company. | ||||||||||||||||
The MRDP allowed for the issuance to participants of up to 529,000 shares of the Company’s common stock. Awards under the MRDP were made in the form of shares of common stock that are subject to restrictions on the transfer of ownership and are subject to a five-year vesting period. Compensation expense is the amount of the fair value of the common stock at the date of the grant to the plan participants and is recognized over a five-year vesting period, with 20% vesting on each of the five anniversaries from the date of the grant. | ||||||||||||||||
No MRDP shares were granted to officers or directors during the three months ended December 31, 2013 or 2012. At December 31, 2013, no shares were available for future awards under the MRDP. | ||||||||||||||||
At December 31, 2013, there were no unvested MRDP shares. There were 3,254 MRDP shares that vested during the three months ended December 31, 2013 with an aggregate grant date fair value of $23,000. | ||||||||||||||||
At December 31, 2012, there were 3,848 unvested MRDP shares with an aggregated grant date fair value of $28,000. There were 5,613 MRDP shares that vested during the three months ended December 31, 2012 with an aggregated grant date fair value of $57,000. At December 31, 2012, no shares were available for future awards under the MRDP. | ||||||||||||||||
Expense for Stock Compensation Plans | ||||||||||||||||
Compensation expense for all stock-based plans were as follows: | ||||||||||||||||
Three Months Ended December 31, | ||||||||||||||||
2013 | 2012 | |||||||||||||||
(Dollars in thousands) | ||||||||||||||||
Stock | Stock | Stock | Stock | |||||||||||||
Options | Grants | Options | Grants | |||||||||||||
Compensation expense recognized in income | $ | 22 | $ | 2 | $ | 11 | $ | 13 | ||||||||
As of December 31, 2013, the compensation expense yet to be recognized for stock-based awards that have been awarded but not vested for the years ending September 30 is as follows (dollars in thousands): | ||||||||||||||||
Stock | Stock | Total | ||||||||||||||
Options | Grants | Awards | ||||||||||||||
Remainder of 2014 | $ | 78 | $ | — | $ | 78 | ||||||||||
2015 | 98 | — | 98 | |||||||||||||
2016 | 97 | — | 97 | |||||||||||||
2017 | 88 | — | 88 | |||||||||||||
2018 | 55 | — | 55 | |||||||||||||
2019 | 4 | — | 4 | |||||||||||||
Total | $ | 420 | $ | — | $ | 420 | ||||||||||
Fair_Value_Measurements
Fair Value Measurements | 3 Months Ended | |||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||||||
Fair Value Measurements | ' | |||||||||||||||||||
FAIR VALUE MEASUREMENTS | ||||||||||||||||||||
GAAP requires disclosure of estimated fair values for financial instruments. Such estimates are subjective in nature, and significant judgment is required regarding the risk characteristics of various financial instruments at a discrete point in time. Therefore, such estimates could vary significantly if assumptions regarding uncertain factors were to change. In addition, as the Company normally intends to hold the majority of its financial instruments until maturity, it does not expect to realize many of the estimated amounts disclosed. The disclosures also do not include estimated fair value amounts for certain items which are not defined as financial instruments but which may have significant value. The Company does not believe that it would be practicable to estimate a representational fair value for these types of items as of December 31, 2013 and September 30, 2013. Because GAAP excludes certain items from fair value disclosure requirements, any aggregation of the fair value amounts presented would not represent the underlying value of the Company. | ||||||||||||||||||||
Accounting guidance regarding fair value measurements defines fair value and establishes a framework for measuring fair value in accordance with GAAP. Fair value is the exchange price that would be received for an asset or paid to transfer a liability in an orderly transaction between market participants on the measurement date. The following definitions describe the levels of inputs that may be used to measure fair value: | ||||||||||||||||||||
Level 1: Quoted prices (unadjusted) in active markets for identical assets or liabilities that the reporting | ||||||||||||||||||||
entity has the ability to access at the measurement date. | ||||||||||||||||||||
Level 2: Significant observable inputs other than quoted prices included within Level 1, such as | ||||||||||||||||||||
quoted prices in markets that are not active, and inputs other than quoted prices that are observable or | ||||||||||||||||||||
can be corroborated by observable market data. | ||||||||||||||||||||
Level 3: Significant unobservable inputs that reflect a company’s own assumptions about the | ||||||||||||||||||||
assumptions market participants would use in pricing an asset or liability based on the best information | ||||||||||||||||||||
available in the circumstances. | ||||||||||||||||||||
The Company used the following methods and significant assumptions to estimate fair value on a recurring basis: | ||||||||||||||||||||
MBS and Other Investments Available for Sale | ||||||||||||||||||||
The estimated fair value of MBS and other investments are based upon the assumptions market participants would use in pricing the security. Such assumptions include quoted market prices (Level 1), market prices of similar securities or observable inputs (Level 2). | ||||||||||||||||||||
The following table summarizes the balances of assets and liabilities measured at estimated fair value on a recurring basis at | ||||||||||||||||||||
December 31, 2013 (dollars in thousands): | ||||||||||||||||||||
Estimated Fair Value | ||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||
Available for Sale Securities | ||||||||||||||||||||
MBS: | ||||||||||||||||||||
U.S. government agencies | $ | — | $ | 2,121 | $ | — | $ | 2,121 | ||||||||||||
Private label residential | — | 866 | — | 866 | ||||||||||||||||
Mutual funds | 943 | — | — | 943 | ||||||||||||||||
Total | $ | 943 | $ | 2,987 | $ | — | $ | 3,930 | ||||||||||||
There were no transfers among Level 1, Level 2 and Level 3 during the three months ended December 31, 2013. | ||||||||||||||||||||
The following table summarizes the balances of assets and liabilities measured at estimated fair value on a recurring basis at September 30, 2013 (dollars in thousands): | ||||||||||||||||||||
Estimated Fair Value | ||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||
Available for Sale Securities | ||||||||||||||||||||
MBS: | ||||||||||||||||||||
U.S. government agencies | $ | — | $ | 2,229 | $ | — | $ | 2,229 | ||||||||||||
Private label residential | — | 914 | — | 914 | ||||||||||||||||
Mutual funds | 958 | — | — | 958 | ||||||||||||||||
Total | $ | 958 | $ | 3,143 | $ | — | $ | 4,101 | ||||||||||||
There were no transfers between Level 1, Level 2 and Level 3 during the year ended September 30, 2013. | ||||||||||||||||||||
The Company may be required, from time to time, to measure certain financial assets and financial liabilities at fair value on a nonrecurring basis in accordance with GAAP. These include assets that are measured at the lower of cost or market value that were recognized at fair value below cost at the end of the period. | ||||||||||||||||||||
The Company uses the following methods and significant assumptions to estimate fair value on a non-recurring basis: | ||||||||||||||||||||
Impaired Loans: A loan is considered to be impaired when, based on current information and events, it is probable that the Company will be unable to collect all amounts due according to the contractual terms of the loan agreement. The specific reserve for collateral dependent impaired loans was based on the estimated fair value of the collateral less estimated costs to sell, if applicable. The estimated fair value of collateral was determined based primarily on appraisals. In some cases, adjustments were made to the appraised values due to various factors including age of the appraisal, age of comparables included in the appraisal, and known changes in the market and in the collateral. Such adjustments may be significant and typically result in a Level 3 classification of the inputs for determining fair value. Impaired loans are evaluated on a quarterly basis for additional impairment and adjusted accordingly. | ||||||||||||||||||||
MBS and Other Investments Held to Maturity: The estimated fair value of MBS and other investments are based upon the assumptions market participants would use in pricing the security. Such assumptions include quoted market prices (Level 1), market prices of similar securities or observable inputs (Level 2) and unobservable inputs such as dealer quotes, discounted cash flows or similar techniques (Level 3). | ||||||||||||||||||||
OREO and Other Repossessed Assets, net: The Company’s OREO and other repossessed assets are initially recorded at estimated fair value less estimated costs to sell. This amount becomes the property’s new basis. Estimated fair value was generally determined by management based on a number of factors, including third-party appraisals of estimated fair value in an orderly sale. Estimated costs to sell were based on standard market factors. The valuation of OREO and other repossessed assets is subject to significant external and internal judgment (Level 3). | ||||||||||||||||||||
MSRs: The fair value of the MSRs was determined using a third-party model, which incorporates the expected life of the loans, estimated cost to service the loans, servicing fees received and other factors. The estimated fair value is calculated by stratifying the MSRs based on the predominant risk characteristics that include the underlying loan’s interest rate, cash flows of the loan, origination date and term (Level 3). | ||||||||||||||||||||
The following table summarizes the balances of assets measured at estimated fair value on a non-recurring basis at December 31, 2013, and the total losses resulting from these estimated fair value adjustments for the three months ended December 31, 2013 (dollars in thousands): | ||||||||||||||||||||
Estimated Fair Value | ||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total Losses | |||||||||||||||||
Impaired loans: | ||||||||||||||||||||
Mortgage Loans: | ||||||||||||||||||||
One-to four-family | $ | — | $ | — | $ | 2,405 | $ | 350 | ||||||||||||
Multi-family | — | — | 4,803 | — | ||||||||||||||||
Commercial | — | — | 11,289 | 295 | ||||||||||||||||
Construction – speculative one- to- four-family | — | — | 602 | — | ||||||||||||||||
Land | — | — | 4,298 | 93 | ||||||||||||||||
Consumer loans: | ||||||||||||||||||||
Home equity and second mortgage | — | — | 244 | 28 | ||||||||||||||||
Total impaired loans (1) | — | — | 23,641 | 766 | ||||||||||||||||
MBS – held to maturity (2): | ||||||||||||||||||||
Private label residential | — | 78 | — | 2 | ||||||||||||||||
OREO and other repossessed items (3) | — | — | 12,483 | 100 | ||||||||||||||||
Total | $ | — | $ | 78 | $ | 36,124 | $ | 868 | ||||||||||||
_______________________ | ||||||||||||||||||||
-1 | The loss represents charge-offs on collateral dependent loans for estimated fair value adjustments based on the estimated fair value of the collateral. Fair value is the recorded investment less the related allowance. | |||||||||||||||||||
-2 | The loss represents OTTI credit-related charges on held to maturity MBS. | |||||||||||||||||||
-3 | The loss represents the results of management’s periodic reviews of the recorded value to determine whether the property continues to be recorded at the lower of its recorded book value or estimated fair value, net of estimated costs to sell. | |||||||||||||||||||
The following table summarizes the balances of assets and liabilities measured at estimated fair value on a non-recurring basis at September 30, 2013 and the total losses resulting from these estimated fair value adjustments for the year ended September 30, 2013 (dollars in thousands): | ||||||||||||||||||||
Estimated Fair Value | ||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total Losses | |||||||||||||||||
Impaired loans: | ||||||||||||||||||||
Mortgage Loans: | ||||||||||||||||||||
One-to four-family | $ | — | $ | — | $ | 3,042 | $ | 769 | ||||||||||||
Multi-family | — | — | 4,850 | — | ||||||||||||||||
Commercial | — | — | 12,868 | 667 | ||||||||||||||||
Construction – speculative one-to four-family | — | — | 599 | — | ||||||||||||||||
Land | — | — | 969 | 2,307 | ||||||||||||||||
Consumer loans: | ||||||||||||||||||||
Home equity and second mortgage | — | — | 242 | 184 | ||||||||||||||||
Total impaired loans (1) | — | — | 22,570 | 3,927 | ||||||||||||||||
MBS – held to maturity (2): | ||||||||||||||||||||
Private label residential | — | 83 | — | 45 | ||||||||||||||||
OREO and other repossessed items (3) | — | — | 11,720 | 2,064 | ||||||||||||||||
Total | $ | — | $ | 83 | $ | 34,290 | $ | 6,036 | ||||||||||||
_______________________ | ||||||||||||||||||||
-1 | The loss represents charge-offs on collateral dependent loans for estimated fair value adjustments based on the estimated fair value of the collateral. Fair value is the recorded investment less the related allowance. | |||||||||||||||||||
-2 | The loss represents OTTI credit-related charges on held to maturity MBS. | |||||||||||||||||||
-3 | The loss represents the results of management’s periodic reviews of the recorded value to determine whether the property continues to be recorded at the lower of its recorded book value or estimated fair value, net of estimated costs to sell. | |||||||||||||||||||
The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a non-recurring basis at the date indicated (dollars in thousands): | ||||||||||||||||||||
31-Dec-13 | ||||||||||||||||||||
Estimated | ||||||||||||||||||||
Fair Value | Valuation | |||||||||||||||||||
Technique(s) | Unobservable Input(s) | Range | ||||||||||||||||||
Impaired loans | $ | 23,641 | Market approach | Appraised value of underlying collateral less selling costs | NA | |||||||||||||||
OREO and other repossessed assets | $ | 12,483 | Market approach | Lower of appraised value or listing price less selling costs | NA | |||||||||||||||
The following methods and assumptions were used by the Company in estimating fair value of its other financial instruments: | ||||||||||||||||||||
Cash and Cash Equivalents: The estimated fair value of financial instruments that are short-term or re-price frequently and that have little or no risk are considered to have an estimated fair value equal to the recorded value. | ||||||||||||||||||||
CDs Held for Investment: The estimated fair value of financial instruments that are short-term or re-price frequently and that have little or no risk are considered to have an estimated fair value equal to the recorded value. | ||||||||||||||||||||
MBS and Other Investments: See descriptions above. | ||||||||||||||||||||
FHLB Stock: No ready market exists for this stock, and it has no quoted market value. However, redemption of this stock has historically been at par value. During the three months ended December 31, 2013, 507 shares of FHLB stock was redeemed from the Company at par value. Accordingly, par value is deemed to be a reasonable estimate of fair value. | ||||||||||||||||||||
Loans Receivable, Net: The fair value of loans was estimated using a discounted cash flow analysis and comparable market statistics. A discounted cash flow analysis was used to estimate the fair value of loans graded pass. The fair value of loans graded watch, special mention and substandard was estimated using comparable market statistics that approximated sales of similarly rated loans. | ||||||||||||||||||||
Loans Held for Sale: The estimated fair value is based on quoted market prices obtained from the Federal Home Loan Mortgage Corporation. | ||||||||||||||||||||
Accrued Interest: The recorded amount of accrued interest approximates the estimated fair value. | ||||||||||||||||||||
Deposits: The estimated fair value of deposits with no stated maturity date is included at the amount payable on demand. The estimated fair value of fixed maturity certificates of deposit is computed by discounting future cash flows using the rates currently offered by the Bank for deposits of similar remaining maturities. | ||||||||||||||||||||
FHLB Advances: The estimated fair value of FHLB advances is computed by discounting the future cash flows of the borrowings at a rate which approximates the current offering rate of the borrowings with a comparable remaining life. | ||||||||||||||||||||
Off-Balance-Sheet Instruments: Since the majority of the Company’s off-balance-sheet instruments consist of variable-rate commitments, the Company has determined that they do not have a distinguishable estimated fair value. | ||||||||||||||||||||
The estimated fair values of financial instruments were as follows as of December 31, 2013 and September 30, 2013 (dollars in thousands): | ||||||||||||||||||||
31-Dec-13 | ||||||||||||||||||||
Fair Value Measurements Using: | ||||||||||||||||||||
Recorded | ||||||||||||||||||||
Amount | Total | Level 1 | Level 2 | Level 3 | ||||||||||||||||
Financial Assets | ||||||||||||||||||||
Cash and cash equivalents | $ | 66,238 | $ | 66,238 | $ | 66,238 | $ | — | $ | — | ||||||||||
CDs held for investment | 32,428 | 32,428 | 32,428 | — | — | |||||||||||||||
MBS and other investments | 6,547 | 7,363 | 943 | 6,420 | — | |||||||||||||||
FHLB stock | 5,401 | 5,401 | 5,401 | — | — | |||||||||||||||
Loans receivable, net | 554,910 | 528,482 | — | — | 528,482 | |||||||||||||||
Loans held for sale | 994 | 1,028 | 1,028 | — | — | |||||||||||||||
Accrued interest receivable | 2,092 | 2,092 | 2,092 | — | — | |||||||||||||||
Financial Liabilities | ||||||||||||||||||||
Deposits: | ||||||||||||||||||||
Non-interest-bearing demand | $ | 98,585 | $ | 98,585 | $ | 98,585 | $ | — | $ | — | ||||||||||
Interest-bearing | 502,898 | 504,090 | 337,120 | — | 166,970 | |||||||||||||||
Total deposits | 601,483 | 602,675 | 435,705 | — | 166,970 | |||||||||||||||
FHLB advances | 45,000 | 47,935 | — | 47,935 | — | |||||||||||||||
Accrued interest payable | 314 | 314 | 314 | — | — | |||||||||||||||
30-Sep-13 | ||||||||||||||||||||
Fair Value Measurements Using: | ||||||||||||||||||||
Recorded | ||||||||||||||||||||
Amount | Total | Level 1 | Level 2 | Level 3 | ||||||||||||||||
Financial Assets | ||||||||||||||||||||
Cash and cash equivalents | $ | 94,496 | $ | 94,496 | $ | 94,496 | $ | — | $ | — | ||||||||||
CDs held for investment | 30,042 | 30,042 | 30,042 | — | — | |||||||||||||||
MBS and other investments | 6,838 | 7,634 | 973 | 6,661 | — | |||||||||||||||
FHLB stock | 5,452 | 5,452 | 5,452 | — | — | |||||||||||||||
Loans receivable, net | 546,193 | 534,364 | — | — | 534,364 | |||||||||||||||
Loans held for sale | 1,911 | 1,973 | 1,973 | — | — | |||||||||||||||
Accrued interest receivable | 1,972 | 1,972 | 1,972 | — | — | |||||||||||||||
Financial Liabilities | ||||||||||||||||||||
Deposits: | ||||||||||||||||||||
Non-interest-bearing demand | $ | 87,657 | $ | 87,657 | $ | 87,657 | $ | — | $ | — | ||||||||||
Interest-bearing | 520,605 | 522,021 | 346,455 | — | 175,566 | |||||||||||||||
Total deposits | 608,262 | 609,678 | 434,112 | — | 175,566 | |||||||||||||||
FHLB advances | 45,000 | 48,445 | — | 48,445 | — | |||||||||||||||
Accrued interest payable | 320 | 320 | 320 | — | — | |||||||||||||||
Recent_Accounting_Pronouncemen
Recent Accounting Pronouncements | 3 Months Ended |
Dec. 31, 2013 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | ' |
Recent Accounting Pronouncements | ' |
RECENT ACCOUNTING PRONOUNCEMENTS | |
In July 2013, the FASB issued Accounting Standard Update ("ASU") No. 2013-11, Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exits. The guidance clarifies when it is appropriate for an unrecognized tax benefit, or portion of an unrecognized tax benefit, to be presented in the financial statements as a reduction to a deferred tax asset. ASU 2013-11 is effective for interim and annual periods beginning after December 15, 2013. Early adoption is permitted. The guidance should be applied prospectively to all unrecognized tax benefits that exist at the effective date, however, retrospective application is also permitted. Adoption of ASU 2013-11 is not expected to have a material impact on the Company's consolidated financial statements. | |
In January 2014, the FASB issued ASU No. 2014-04, Receivables - Troubled Debt Restructurings by Creditors. The guidance clarifies when an in substance repossession or foreclosure occurs, that is, when a creditor should be considered to have received physical possession of the residential real estate property collateralizing a consumer mortgage loan such that the loan should be derecognized and the real estate property recognized. ASU 2014-04 is effective for annual periods beginning after December 15, 2014, and interim periods within annual periods beginning after December 15, 2015. The guidance can be adopted using a modified retrospective transition method or a prospective transition method. Adoption of ASU 2014-04 is not expected to a have a material impact on the Company's consolidated financial statements. |
Summary_Of_Significant_Account1
Summary Of Significant Accounting Policies: Basis of Presentation (Policies) | 3 Months Ended |
Dec. 31, 2013 | |
Accounting Policies [Abstract] | ' |
Basis of Presentation | ' |
Basis of Presentation: The accompanying unaudited condensed consolidated financial statements for Timberland Bancorp, Inc. (“Company”) were prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and with instructions for Form 10-Q and, therefore, do not include all disclosures necessary for a complete presentation of financial condition, results of operations, and cash flows in conformity with GAAP. However, all adjustments which are, in the opinion of management, necessary for a fair presentation of the interim condensed consolidated financial statements have been included. All such adjustments are of a normal recurring nature. The unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended September 30, 2013 (“2013 Form 10-K”). The unaudited condensed consolidated results of operations for the three months ended December 31, 2013 are not necessarily indicative of the results that may be expected for the entire fiscal year ending September 30, 2014. | |
Principles of Consolidation | ' |
Principles of Consolidation: The unaudited condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary, Timberland Bank (“Bank”), and the Bank’s wholly-owned subsidiary, Timberland Service Corp. All significant intercompany transactions and balances have been eliminated in consolidation. | |
Operating Segment Policy | ' |
Operating Segment: The Company has one reportable operating segment which is defined as community banking in western Washington under the operating name, “Timberland Bank.” | |
Use of Estimates | ' |
The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. | |
Reclassification Policy | ' |
Certain prior period amounts have been reclassified to conform to the December 31, 2013 presentation with no change to net income or total shareholders’ equity previously reported. |
MBS_And_Other_Investments_Tabl
MBS And Other Investments (Tables) | 3 Months Ended | |||||||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||||||
Investments [Abstract] | ' | |||||||||||||||||||||||||||||
Marketable Securities | ' | |||||||||||||||||||||||||||||
MBS and other investments have been classified according to management’s intent and are as follows as of December 31, 2013 and September 30, 2013 (dollars in thousands): | ||||||||||||||||||||||||||||||
Amortized | Gross | Gross | Estimated | |||||||||||||||||||||||||||
Cost | Unrealized | Unrealized | Fair Value | |||||||||||||||||||||||||||
Gains | Losses | |||||||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||||
Held to Maturity | ||||||||||||||||||||||||||||||
MBS: | ||||||||||||||||||||||||||||||
U.S. government agencies | $ | 1,152 | $ | 33 | $ | (2 | ) | $ | 1,183 | |||||||||||||||||||||
Private label residential | 1,451 | 805 | (21 | ) | 2,235 | |||||||||||||||||||||||||
U.S. agency securities | 14 | 1 | — | 15 | ||||||||||||||||||||||||||
Total | $ | 2,617 | $ | 839 | $ | (23 | ) | $ | 3,433 | |||||||||||||||||||||
Available for Sale | ||||||||||||||||||||||||||||||
MBS: | ||||||||||||||||||||||||||||||
U.S. government agencies | $ | 2,012 | $ | 111 | $ | (2 | ) | $ | 2,121 | |||||||||||||||||||||
Private label residential | 763 | 112 | (9 | ) | 866 | |||||||||||||||||||||||||
Mutual funds | 1,000 | — | (57 | ) | 943 | |||||||||||||||||||||||||
Total | $ | 3,775 | $ | 223 | $ | (68 | ) | $ | 3,930 | |||||||||||||||||||||
September 30, 2013 | ||||||||||||||||||||||||||||||
Held to Maturity | ||||||||||||||||||||||||||||||
MBS: | ||||||||||||||||||||||||||||||
U.S. government agencies | $ | 1,202 | $ | 31 | $ | (2 | ) | $ | 1,231 | |||||||||||||||||||||
Private label residential | 1,521 | 781 | (15 | ) | 2,287 | |||||||||||||||||||||||||
U.S. agency securities | 14 | 1 | — | 15 | ||||||||||||||||||||||||||
Total | $ | 2,737 | $ | 813 | $ | (17 | ) | $ | 3,533 | |||||||||||||||||||||
Available for Sale | ||||||||||||||||||||||||||||||
MBS: | ||||||||||||||||||||||||||||||
U.S. government agencies | $ | 2,144 | $ | 87 | $ | (2 | ) | $ | 2,229 | |||||||||||||||||||||
Private label residential | 804 | 120 | (10 | ) | 914 | |||||||||||||||||||||||||
Mutual funds | 1,000 | — | (42 | ) | 958 | |||||||||||||||||||||||||
Total | $ | 3,948 | $ | 207 | $ | (54 | ) | $ | 4,101 | |||||||||||||||||||||
Unrealized Gain (Loss) on Investments | ' | |||||||||||||||||||||||||||||
The following table summarizes the estimated fair value and gross unrealized losses for all securities and the length of time these unrealized losses existed as of December 31, 2013 (dollars in thousands): | ||||||||||||||||||||||||||||||
Less Than 12 Months | 12 Months or Longer | Total | ||||||||||||||||||||||||||||
Estimated | Gross | Qty | Estimated | Gross | Qty | Estimated | Gross | |||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | |||||||||||||||||||||||||
Held to Maturity | ||||||||||||||||||||||||||||||
MBS: | ||||||||||||||||||||||||||||||
U.S. government agencies | $ | 18 | $ | — | 4 | $ | 85 | $ | (2 | ) | 7 | $ | 103 | $ | (2 | ) | ||||||||||||||
Private label residential | 79 | (7 | ) | 4 | 217 | (14 | ) | 12 | 296 | (21 | ) | |||||||||||||||||||
Total | $ | 97 | $ | (7 | ) | 8 | $ | 302 | $ | (16 | ) | 19 | $ | 399 | $ | (23 | ) | |||||||||||||
Available for Sale | ||||||||||||||||||||||||||||||
MBS: | ||||||||||||||||||||||||||||||
U.S. government agencies | $ | 41 | $ | (2 | ) | 2 | $ | — | $ | — | 1 | $ | 41 | $ | (2 | ) | ||||||||||||||
Private label residential | — | — | — | 101 | (9 | ) | 2 | 101 | (9 | ) | ||||||||||||||||||||
Mutual Funds | 943 | (57 | ) | 1 | — | — | — | 943 | (57 | ) | ||||||||||||||||||||
Total | $ | 984 | $ | (59 | ) | 3 | $ | 101 | $ | (9 | ) | 3 | $ | 1,085 | $ | (68 | ) | |||||||||||||
The following table summarizes the estimated fair value and gross unrealized losses for all securities and the length of time the unrealized losses existed as of September 30, 2013 (dollars in thousands): | ||||||||||||||||||||||||||||||
Less Than 12 Months | 12 Months or Longer | Total | ||||||||||||||||||||||||||||
Estimated | Gross | Qty | Estimated | Gross | Qty | Estimated | Gross | |||||||||||||||||||||||
Fair | Unrealized Losses | Fair | Unrealized Losses | Fair | Unrealized Losses | |||||||||||||||||||||||||
Value | Value | Value | ||||||||||||||||||||||||||||
Held to Maturity | ||||||||||||||||||||||||||||||
MBS: | ||||||||||||||||||||||||||||||
U.S. government agencies | $ | 3 | $ | — | 6 | $ | 88 | $ | (2 | ) | 4 | $ | 91 | $ | (2 | ) | ||||||||||||||
Private label residential | 80 | (4 | ) | 4 | 239 | (11 | ) | 14 | 319 | (15 | ) | |||||||||||||||||||
Total | $ | 83 | $ | (4 | ) | 10 | $ | 327 | $ | (13 | ) | 18 | $ | 410 | $ | (17 | ) | |||||||||||||
Available for Sale | ||||||||||||||||||||||||||||||
MBS: | ||||||||||||||||||||||||||||||
U.S. government agencies | $ | 96 | $ | (2 | ) | 3 | $ | — | $ | — | 1 | $ | 96 | $ | (2 | ) | ||||||||||||||
Private label residential | — | — | — | 108 | (10 | ) | 2 | 108 | (10 | ) | ||||||||||||||||||||
Mutual Funds | 958 | (42 | ) | 1 | — | — | — | 958 | (42 | ) | ||||||||||||||||||||
Total | $ | 1,054 | $ | (44 | ) | 4 | $ | 108 | $ | (10 | ) | 3 | $ | 1,162 | $ | (54 | ) | |||||||||||||
Schedule of Significant Inputs Utilized to Measure Estimate of Credit Loss Component on OTTI Securities | ' | |||||||||||||||||||||||||||||
The following table presents a summary of the significant inputs utilized to measure management’s estimate of the credit loss component on OTTI securities as of December 31, 2013 and September 30, 2013: | ||||||||||||||||||||||||||||||
Range | Weighted | |||||||||||||||||||||||||||||
Minimum | Maximum | Average | ||||||||||||||||||||||||||||
31-Dec-13 | ||||||||||||||||||||||||||||||
Constant prepayment rate | 6 | % | 15 | % | 12.72 | % | ||||||||||||||||||||||||
Collateral default rate | 0.52 | % | 20.4 | % | 6.79 | % | ||||||||||||||||||||||||
Loss severity rate | 20.34 | % | 71.52 | % | 43.78 | % | ||||||||||||||||||||||||
30-Sep-13 | ||||||||||||||||||||||||||||||
Constant prepayment rate | 6 | % | 15 | % | 12.33 | % | ||||||||||||||||||||||||
Collateral default rate | 0.73 | % | 22.53 | % | 7.84 | % | ||||||||||||||||||||||||
Loss severity rate | 20.48 | % | 75.02 | % | 52.69 | % | ||||||||||||||||||||||||
Schedule of Other than Temporary Impairments | ' | |||||||||||||||||||||||||||||
The following tables present the OTTI losses for the three months ended December 31, 2013 and 2012 (dollars in thousands): | ||||||||||||||||||||||||||||||
Three Months Ended December 31, 2013 | Three Months Ended | |||||||||||||||||||||||||||||
31-Dec-12 | ||||||||||||||||||||||||||||||
Held To | Available | Held To | Available | |||||||||||||||||||||||||||
Maturity | For Sale | Maturity | For Sale | |||||||||||||||||||||||||||
Total OTTI | $ | (3 | ) | $ | — | $ | (6 | ) | $ | (1 | ) | |||||||||||||||||||
Adjustment for portion recorded as (transferred from) | 1 | — | (3 | ) | — | |||||||||||||||||||||||||
other comprehensive income (loss) before taxes (1) | ||||||||||||||||||||||||||||||
Net OTTI recognized in earnings (2) | $ | (2 | ) | $ | — | $ | (9 | ) | $ | (1 | ) | |||||||||||||||||||
________________________ | ||||||||||||||||||||||||||||||
-1 | Represents OTTI related to all other factors. | |||||||||||||||||||||||||||||
-2 | Represents OTTI related to credit losses. | |||||||||||||||||||||||||||||
Other than Temporary Impairment, Credit Losses Recognized in Earnings | ' | |||||||||||||||||||||||||||||
. | ||||||||||||||||||||||||||||||
Schedule of Contractual Maturities of Debt Securities | ' | |||||||||||||||||||||||||||||
The contractual maturities of debt securities at December 31, 2013 were as follows (dollars in thousands). Expected maturities may differ from scheduled maturities as a result of the prepayment of principal or call provisions. | ||||||||||||||||||||||||||||||
Held to Maturity | Available for Sale | |||||||||||||||||||||||||||||
Amortized | Estimated | Amortized | Estimated | |||||||||||||||||||||||||||
Cost | Fair | Cost | Fair | |||||||||||||||||||||||||||
Value | Value | |||||||||||||||||||||||||||||
Due within one year | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||
Due after one year to five years | 20 | 22 | 26 | 26 | ||||||||||||||||||||||||||
Due after five to ten years | 18 | 18 | 27 | 27 | ||||||||||||||||||||||||||
Due after ten years | 2,579 | 3,393 | 2,722 | 2,934 | ||||||||||||||||||||||||||
Total | $ | 2,617 | $ | 3,433 | $ | 2,775 | $ | 2,987 | ||||||||||||||||||||||
Loans_Receivable_And_Allowance1
Loans Receivable And Allowance For Loan Losses (Tables) | 3 Months Ended | |||||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||||
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract] | ' | |||||||||||||||||||||||||||
Schedule of Loans receivable and Loans held for sale | ' | |||||||||||||||||||||||||||
Loans receivable and loans held for sale consisted of the following at December 31, 2013 and September 30, 2013 | ||||||||||||||||||||||||||||
(dollars in thousands): | ||||||||||||||||||||||||||||
December 31, | September 30, | |||||||||||||||||||||||||||
2013 | 2013 | |||||||||||||||||||||||||||
Amount | Percent | Amount | Percent | |||||||||||||||||||||||||
Mortgage loans: | ||||||||||||||||||||||||||||
One- to four-family (1) | $ | 100,869 | 17.1 | % | $ | 104,298 | 18 | % | ||||||||||||||||||||
Multi-family | 48,212 | 8.2 | 51,108 | 8.8 | ||||||||||||||||||||||||
Commercial | 299,644 | 50.8 | 291,297 | 50.3 | ||||||||||||||||||||||||
Construction and land development | 53,694 | 9.1 | 45,136 | 7.8 | ||||||||||||||||||||||||
Land | 31,464 | 5.3 | 31,144 | 5.4 | ||||||||||||||||||||||||
Total mortgage loans | 533,883 | 90.5 | 522,983 | 90.3 | ||||||||||||||||||||||||
Consumer loans: | ||||||||||||||||||||||||||||
Home equity and second mortgage | 32,201 | 5.5 | 33,014 | 5.7 | ||||||||||||||||||||||||
Other | 5,963 | 1 | 5,981 | 1 | ||||||||||||||||||||||||
Total consumer loans | 38,164 | 6.5 | 38,995 | 6.7 | ||||||||||||||||||||||||
Commercial business loans | 17,732 | 3 | 17,499 | 3 | ||||||||||||||||||||||||
Total loans receivable | 589,779 | 100 | % | 579,477 | 100 | % | ||||||||||||||||||||||
Less: | ||||||||||||||||||||||||||||
Undisbursed portion of construction | (21,362 | ) | (18,527 | ) | ||||||||||||||||||||||||
loans in process | ||||||||||||||||||||||||||||
Deferred loan origination fees | (1,768 | ) | (1,710 | ) | ||||||||||||||||||||||||
Allowance for loan losses | (10,745 | ) | (11,136 | ) | ||||||||||||||||||||||||
Total loans receivable, net | $ | 555,904 | $ | 548,104 | ||||||||||||||||||||||||
________________________ | ||||||||||||||||||||||||||||
(1) Includes loans held for sale. | ||||||||||||||||||||||||||||
Schedule of Composition of Construction and Land Development Loan Portfolio | ' | |||||||||||||||||||||||||||
The following table sets forth the composition of the Company’s construction and land development loan portfolio at December 31, 2013 and September 30, 2013 (dollars in thousands): | ||||||||||||||||||||||||||||
December 31, | September 30, | |||||||||||||||||||||||||||
2013 | 2013 | |||||||||||||||||||||||||||
Amount | Percent | Amount | Percent | |||||||||||||||||||||||||
Custom and owner/builder | $ | 46,789 | 87.1 | % | $ | 40,811 | 90.4 | % | ||||||||||||||||||||
Speculative one- to four-family | 2,104 | 3.9 | 1,428 | 3.2 | ||||||||||||||||||||||||
Commercial real estate | 4,467 | 8.3 | 2,239 | 5 | ||||||||||||||||||||||||
Multi-family | 143 | 0.3 | 143 | 0.3 | ||||||||||||||||||||||||
(including condominiums) | ||||||||||||||||||||||||||||
Land development | 190 | 0.4 | 515 | 1.1 | ||||||||||||||||||||||||
Total construction and | $ | 53,693 | 100 | % | $ | 45,136 | 100 | % | ||||||||||||||||||||
land development loans | ||||||||||||||||||||||||||||
Schedule of Allowance for Loan Losses | ' | |||||||||||||||||||||||||||
The following tables set forth information for the three months ended December 31, 2013 and 2012 regarding activity in the allowance for loan losses (dollars in thousands): | ||||||||||||||||||||||||||||
Three Months Ended December 31, 2013 | ||||||||||||||||||||||||||||
Beginning | Provision | Charge- | Recoveries | Ending | ||||||||||||||||||||||||
Allowance | /(Credit) | offs | Allowance | |||||||||||||||||||||||||
Mortgage loans: | ||||||||||||||||||||||||||||
One-to four-family | $ | 1,449 | $ | 214 | $ | 350 | $ | 8 | $ | 1,321 | ||||||||||||||||||
Multi-family | 749 | (198 | ) | — | — | 551 | ||||||||||||||||||||||
Commercial | 5,275 | 130 | 295 | 3 | 5,113 | |||||||||||||||||||||||
Construction – custom and owner/builder | 262 | 70 | — | — | 332 | |||||||||||||||||||||||
Construction – speculative one- to four-family | 96 | 22 | — | — | 118 | |||||||||||||||||||||||
Construction – commercial | 56 | 24 | — | — | 80 | |||||||||||||||||||||||
Construction – multi-family | — | — | — | — | — | |||||||||||||||||||||||
Construction – land development | — | (69 | ) | — | 69 | — | ||||||||||||||||||||||
Land | 1,940 | (282 | ) | 93 | 300 | 1,865 | ||||||||||||||||||||||
Consumer loans: | ||||||||||||||||||||||||||||
Home equity and second mortgage | 782 | 55 | 28 | — | 809 | |||||||||||||||||||||||
Other | 200 | 8 | — | — | 208 | |||||||||||||||||||||||
Commercial business loans | 327 | 26 | 14 | 9 | 348 | |||||||||||||||||||||||
Total | $ | 11,136 | $ | — | $ | 780 | $ | 389 | $ | 10,745 | ||||||||||||||||||
Three Months Ended December 31, 2012 | ||||||||||||||||||||||||||||
Beginning | Provision | Charge- | Recoveries | Ending | ||||||||||||||||||||||||
Allowance | /(Credit) | offs | Allowance | |||||||||||||||||||||||||
Mortgage loans: | ||||||||||||||||||||||||||||
One-to four-family | $ | 1,558 | $ | 533 | $ | 263 | $ | 1 | $ | 1,829 | ||||||||||||||||||
Multi-family | 1,156 | -212 | — | 1 | 945 | |||||||||||||||||||||||
Commercial | 4,247 | 216 | — | — | 4,463 | |||||||||||||||||||||||
Construction – custom and owner/builder | 386 | -92 | — | — | 294 | |||||||||||||||||||||||
Construction – speculative one- to four-family | 128 | 4 | — | — | 132 | |||||||||||||||||||||||
Construction – commercial | 429 | -58 | — | — | 371 | |||||||||||||||||||||||
Construction – multi-family | — | — | — | — | — | |||||||||||||||||||||||
Construction – land development | — | -120 | 6 | 146 | 20 | |||||||||||||||||||||||
Land | 2,392 | 101 | 209 | 1 | 2,285 | |||||||||||||||||||||||
Consumer loans: | ||||||||||||||||||||||||||||
Home equity and second mortgage | 759 | -19 | 18 | — | 722 | |||||||||||||||||||||||
Other | 254 | -5 | — | — | 249 | |||||||||||||||||||||||
Commercial business loans | 516 | -148 | — | 91 | 459 | |||||||||||||||||||||||
Total | $ | 11,825 | $ | 200 | $ | 496 | $ | 240 | $ | 11,769 | ||||||||||||||||||
Schedule of loans evaluated individually for impairment and collectively evaluated for impairment in the allowance for loan losses | ' | |||||||||||||||||||||||||||
The following table presents information on the loans evaluated individually for impairment and collectively evaluated for impairment in the allowance for loan losses at December 31, 2013 and September 30, 2013 (dollars in thousands): | ||||||||||||||||||||||||||||
Allowance for Loan Losses | Recorded Investment in Loans | |||||||||||||||||||||||||||
Individually | Collectively | Total | Individually | Collectively | Total | |||||||||||||||||||||||
Evaluated for | Evaluated for | Evaluated for | Evaluated for | |||||||||||||||||||||||||
Impairment | Impairment | Impairment | Impairment | |||||||||||||||||||||||||
31-Dec-13 | ||||||||||||||||||||||||||||
Mortgage loans: | ||||||||||||||||||||||||||||
One- to four-family | $ | 440 | $ | 881 | $ | 1,321 | $ | 8,173 | $ | 92,696 | $ | 100,869 | ||||||||||||||||
Multi-family | 131 | 420 | 551 | 4,934 | 43,278 | 48,212 | ||||||||||||||||||||||
Commercial | 1,515 | 3,598 | 5,113 | 18,012 | 281,632 | 299,644 | ||||||||||||||||||||||
Construction – custom and owner/builder | — | 332 | 332 | — | 27,357 | 27,357 | ||||||||||||||||||||||
Construction – speculative one- to four-family | 84 | 34 | 118 | 686 | 906 | 1,592 | ||||||||||||||||||||||
Construction – commercial | — | 80 | 80 | — | 3,050 | 3,050 | ||||||||||||||||||||||
Construction – multi-family | — | — | — | 143 | — | 143 | ||||||||||||||||||||||
Construction – land development | — | — | — | 190 | — | 190 | ||||||||||||||||||||||
Land | 368 | 1,497 | 1,865 | 5,614 | 25,850 | 31,464 | ||||||||||||||||||||||
Consumer loans: | ||||||||||||||||||||||||||||
Home equity and second mortgage | 55 | 754 | 809 | 525 | 31,676 | 32,201 | ||||||||||||||||||||||
Other | — | 208 | 208 | 5 | 5,958 | 5,963 | ||||||||||||||||||||||
Commercial business loans | — | 348 | 348 | 5 | 17,727 | 17,732 | ||||||||||||||||||||||
Total | $ | 2,593 | $ | 8,152 | $ | 10,745 | $ | 38,287 | $ | 530,130 | $ | 568,417 | ||||||||||||||||
30-Sep-13 | ||||||||||||||||||||||||||||
Mortgage loans: | ||||||||||||||||||||||||||||
One- to four-family | $ | 600 | $ | 849 | $ | 1,449 | $ | 8,984 | $ | 95,314 | $ | 104,298 | ||||||||||||||||
Multi-family | 334 | 415 | 749 | 5,184 | 45,924 | 51,108 | ||||||||||||||||||||||
Commercial | 1,763 | 3,512 | 5,275 | 19,510 | 271,787 | 291,297 | ||||||||||||||||||||||
Construction – custom and owner/builder | — | 262 | 262 | — | 22,788 | 22,788 | ||||||||||||||||||||||
Construction – speculative one- to four-family | 88 | 8 | 96 | 687 | 236 | 923 | ||||||||||||||||||||||
Construction – commercial | — | 56 | 56 | — | 2,239 | 2,239 | ||||||||||||||||||||||
Construction – multi-family | — | — | — | 143 | 1 | 144 | ||||||||||||||||||||||
Construction – land development | — | — | — | 515 | — | 515 | ||||||||||||||||||||||
Land | 234 | 1,706 | 1,940 | 2,391 | 28,753 | 31,144 | ||||||||||||||||||||||
Consumer loans: | ||||||||||||||||||||||||||||
Home equity and second mortgage | 57 | 725 | 782 | 679 | 32,335 | 33,014 | ||||||||||||||||||||||
Other | — | 200 | 200 | 6 | 5,975 | 5,981 | ||||||||||||||||||||||
Commercial business loans | — | 327 | 327 | — | 17,499 | 17,499 | ||||||||||||||||||||||
Total | $ | 3,076 | $ | 8,060 | $ | 11,136 | $ | 38,099 | $ | 522,851 | $ | 560,950 | ||||||||||||||||
Financing Receivable Credit Quality Indicators | ' | |||||||||||||||||||||||||||
The following table lists the loan credit risk grades utilized by the Company that serve as credit quality indicators at December 31, 2013 and September 30, 2013 (dollars in thousands): | ||||||||||||||||||||||||||||
31-Dec-13 | Loan Grades | |||||||||||||||||||||||||||
Pass | Watch | Special | Substandard | Total | ||||||||||||||||||||||||
Mention | ||||||||||||||||||||||||||||
Mortgage loans: | ||||||||||||||||||||||||||||
One- to four-family | $ | 90,870 | $ | 735 | $ | 2,015 | $ | 7,249 | $ | 100,869 | ||||||||||||||||||
Multi-family | 39,365 | — | 8,073 | 774 | 48,212 | |||||||||||||||||||||||
Commercial | 272,616 | 3,072 | 16,459 | 7,497 | 299,644 | |||||||||||||||||||||||
Construction – custom and owner/builder | 27,357 | — | — | — | 27,357 | |||||||||||||||||||||||
Construction – speculative one- to four-family | 906 | 686 | — | — | 1,592 | |||||||||||||||||||||||
Construction – commercial | 3,050 | — | — | — | 3,050 | |||||||||||||||||||||||
Construction – multi-family | — | — | — | 143 | 143 | |||||||||||||||||||||||
Construction – land development | — | — | — | 190 | 190 | |||||||||||||||||||||||
Land | 22,404 | 160 | 2,516 | 6,384 | 31,464 | |||||||||||||||||||||||
Consumer loans: | ||||||||||||||||||||||||||||
Home equity and second mortgage | 30,241 | 846 | 203 | 911 | 32,201 | |||||||||||||||||||||||
Other | 5,919 | 39 | — | 5 | 5,963 | |||||||||||||||||||||||
Commercial business loans | 17,564 | 62 | 101 | 5 | 17,732 | |||||||||||||||||||||||
Total | $ | 510,292 | $ | 5,600 | $ | 29,367 | $ | 23,158 | $ | 568,417 | ||||||||||||||||||
30-Sep-13 | ||||||||||||||||||||||||||||
Mortgage loans: | ||||||||||||||||||||||||||||
One- to four-family | $ | 91,291 | $ | 4,032 | $ | 769 | $ | 8,206 | $ | 104,298 | ||||||||||||||||||
Multi-family | 41,863 | 132 | 8,337 | 776 | 51,108 | |||||||||||||||||||||||
Commercial | 262,502 | 3,309 | 12,522 | 12,964 | 291,297 | |||||||||||||||||||||||
Construction – custom and owner/builder | 22,788 | — | — | — | 22,788 | |||||||||||||||||||||||
Construction – speculative one- to four-family | 236 | 687 | — | — | 923 | |||||||||||||||||||||||
Construction – commercial | 2,239 | — | — | — | 2,239 | |||||||||||||||||||||||
Construction – multi-family | — | — | — | 144 | 144 | |||||||||||||||||||||||
Construction – land development | — | — | — | 515 | 515 | |||||||||||||||||||||||
Land | 20,627 | 5,101 | 1,129 | 4,287 | 31,144 | |||||||||||||||||||||||
Consumer loans: | ||||||||||||||||||||||||||||
Home equity and second mortgage | 31,096 | 782 | 55 | 1,081 | 33,014 | |||||||||||||||||||||||
Other | 5,937 | 39 | — | 5 | 5,981 | |||||||||||||||||||||||
Commercial business loans | 17,029 | 366 | 104 | — | 17,499 | |||||||||||||||||||||||
Total | $ | 495,608 | $ | 14,448 | $ | 22,916 | $ | 27,978 | $ | 560,950 | ||||||||||||||||||
Past Due Status of Loans Receivable | ' | |||||||||||||||||||||||||||
The following tables present an age analysis of past due status of loans by category at December 31, 2013 and September 30, 2013 (dollars in thousands): | ||||||||||||||||||||||||||||
30–59 | 60-89 | Non- | Past Due | Total | Current | Total | ||||||||||||||||||||||
Days | Days | Accrual | 90 Days | Past Due | Loans | |||||||||||||||||||||||
Past Due | Past Due | or More | ||||||||||||||||||||||||||
and Still | ||||||||||||||||||||||||||||
Accruing | ||||||||||||||||||||||||||||
31-Dec-13 | ||||||||||||||||||||||||||||
Mortgage loans: | ||||||||||||||||||||||||||||
One- to four-family | $ | — | $ | 645 | $ | 6,184 | $ | — | $ | 6,829 | $ | 94,040 | $ | 100,869 | ||||||||||||||
Multi-family | — | — | — | — | — | 48,212 | 48,212 | |||||||||||||||||||||
Commercial | 169 | — | 2,017 | — | 2,186 | 297,458 | 299,644 | |||||||||||||||||||||
Construction – custom and owner/builder | — | 600 | — | — | 600 | 26,757 | 27,357 | |||||||||||||||||||||
Construction – speculative one- to four- family | — | 686 | — | — | 686 | 906 | 1,592 | |||||||||||||||||||||
Construction – commercial | — | — | — | — | — | 3,050 | 3,050 | |||||||||||||||||||||
Construction – multi-family | — | — | 143 | — | 143 | — | 143 | |||||||||||||||||||||
Construction – land development | — | — | 190 | — | 190 | — | 190 | |||||||||||||||||||||
Land | 166 | 849 | 5,371 | — | 6,386 | 25,078 | 31,464 | |||||||||||||||||||||
Consumer loans: | ||||||||||||||||||||||||||||
Home equity and second mortgage | — | 23 | 226 | 153 | 402 | 31,799 | 32,201 | |||||||||||||||||||||
Other | 52 | 54 | 5 | — | 111 | 5,852 | 5,963 | |||||||||||||||||||||
Commercial business loans | 83 | 172 | 5 | — | 260 | 17,472 | 17,732 | |||||||||||||||||||||
Total | $ | 470 | $ | 3,029 | $ | 14,141 | $ | 153 | $ | 17,793 | $ | 550,624 | $ | 568,417 | ||||||||||||||
30-Sep-13 | ||||||||||||||||||||||||||||
Mortgage loans: | ||||||||||||||||||||||||||||
One- to four-family | $ | 14 | $ | 1,218 | $ | 6,985 | $ | — | $ | 8,217 | $ | 96,081 | $ | 104,298 | ||||||||||||||
Multi-family | — | — | — | — | — | 51,108 | 51,108 | |||||||||||||||||||||
Commercial | — | 2,537 | 3,435 | — | 5,972 | 285,325 | 291,297 | |||||||||||||||||||||
Construction – custom and owner/ | — | — | — | — | — | 22,788 | 22,788 | |||||||||||||||||||||
builder | ||||||||||||||||||||||||||||
Construction – speculative one- to four- family | — | — | — | — | — | 923 | 923 | |||||||||||||||||||||
Construction – commercial | — | — | — | — | — | 2,239 | 2,239 | |||||||||||||||||||||
Construction – multi-family | — | — | 144 | — | 144 | — | 144 | |||||||||||||||||||||
Construction – land development | — | — | 515 | — | 515 | — | 515 | |||||||||||||||||||||
Land | — | — | 2,146 | 284 | 2,430 | 28,714 | 31,144 | |||||||||||||||||||||
Consumer loans: | ||||||||||||||||||||||||||||
Home equity and second mortgage | 101 | 20 | 380 | 152 | 653 | 32,361 | 33,014 | |||||||||||||||||||||
Other | 1 | 39 | 5 | — | 45 | 5,936 | 5,981 | |||||||||||||||||||||
Commercial business loans | 83 | 15 | — | — | 98 | 17,401 | 17,499 | |||||||||||||||||||||
Total | $ | 199 | $ | 3,829 | $ | 13,610 | $ | 436 | $ | 18,074 | $ | 542,876 | $ | 560,950 | ||||||||||||||
Impaired Loans Receivable | ' | |||||||||||||||||||||||||||
Following is a summary of information related to impaired loans as of December 31, 2013 and for the three months then ended (in thousands): | ||||||||||||||||||||||||||||
Recorded | Unpaid Principal Balance (Loan Balance Plus Charge Off) | Related | YTD Average Recorded Investment (1) | YTD Interest Income Recognized (1) | YTD Cash Basis Interest Income Recognized (1) | |||||||||||||||||||||||
Investment | Allowance | |||||||||||||||||||||||||||
With no related allowance recorded: | ||||||||||||||||||||||||||||
Mortgage loans: | ||||||||||||||||||||||||||||
One- to four-family | $ | 5,328 | $ | 5,983 | $ | — | $ | 3,424 | $ | — | $ | — | ||||||||||||||||
Multi-family | — | 982 | — | 473 | — | — | ||||||||||||||||||||||
Commercial | 5,208 | 8,335 | — | 8,303 | 66 | 87 | ||||||||||||||||||||||
Construction – custom and owner/builder | — | — | — | 55 | — | — | ||||||||||||||||||||||
Construction – speculative one- to four-family | — | — | — | — | — | — | ||||||||||||||||||||||
Construction – multi-family | 143 | 608 | — | 253 | — | — | ||||||||||||||||||||||
Construction – land development | 190 | 2,060 | — | 454 | — | — | ||||||||||||||||||||||
Land | 948 | 1,600 | — | 2,511 | 2 | 3 | ||||||||||||||||||||||
Consumer loans: | ||||||||||||||||||||||||||||
Home equity and second mortgage | 226 | 430 | — | 259 | — | — | ||||||||||||||||||||||
Other | 5 | 5 | — | 8 | — | — | ||||||||||||||||||||||
Commercial business loans | 5 | 44 | — | 1 | — | — | ||||||||||||||||||||||
Subtotal | 12,053 | 20,047 | — | 15,741 | 68 | 90 | ||||||||||||||||||||||
With an allowance recorded: | ||||||||||||||||||||||||||||
Mortgage loans: | ||||||||||||||||||||||||||||
One- to four-family | 2,845 | 2,845 | 440 | 4,211 | 21 | 28 | ||||||||||||||||||||||
Multi-family | 4,934 | 4,934 | 131 | 5,571 | 52 | 69 | ||||||||||||||||||||||
Commercial | 12,804 | 12,804 | 1,515 | 9,693 | 135 | 164 | ||||||||||||||||||||||
Construction – custom and owner/builder | — | — | — | 40 | — | — | ||||||||||||||||||||||
Construction – speculative one- to four-family | 686 | 686 | 84 | 692 | 7 | 11 | ||||||||||||||||||||||
Construction – multi-family | — | — | — | — | — | — | ||||||||||||||||||||||
Construction - land development | — | — | — | — | — | — | ||||||||||||||||||||||
Land | 4,666 | 4,677 | 368 | 2,370 | 6 | 6 | ||||||||||||||||||||||
Consumer loans: | ||||||||||||||||||||||||||||
Home equity and second mortgage | 299 | 299 | 55 | 351 | 3 | 4 | ||||||||||||||||||||||
Other | — | — | — | — | — | — | ||||||||||||||||||||||
Commercial business loans | — | — | — | — | — | — | ||||||||||||||||||||||
Subtotal | 26,234 | 26,245 | 2,593 | 22,928 | 224 | 282 | ||||||||||||||||||||||
Total | ||||||||||||||||||||||||||||
Mortgage loans: | ||||||||||||||||||||||||||||
One- to four-family | $ | 8,173 | $ | 8,828 | $ | 440 | $ | 7,635 | $ | 21 | $ | 28 | ||||||||||||||||
Multi-family | 4,934 | 5,916 | 131 | 6,044 | 52 | 69 | ||||||||||||||||||||||
Commercial | 18,012 | 21,139 | 1,515 | 17,996 | 201 | 251 | ||||||||||||||||||||||
Construction – custom and owner/builder | — | — | — | 95 | — | — | ||||||||||||||||||||||
Construction – speculative one- to four-family | 686 | 686 | 84 | 692 | 7 | 11 | ||||||||||||||||||||||
Construction – multi-family | 143 | 608 | — | 253 | — | — | ||||||||||||||||||||||
Construction – land development | 190 | 2,060 | — | 454 | — | — | ||||||||||||||||||||||
Land | 5,614 | 6,277 | 368 | 4,881 | 8 | 9 | ||||||||||||||||||||||
Consumer loans: | — | |||||||||||||||||||||||||||
Home equity and second mortgage | 525 | 729 | 55 | 610 | 3 | 4 | ||||||||||||||||||||||
Other | 5 | 5 | — | 8 | — | — | ||||||||||||||||||||||
Commercial business loans | 5 | 44 | — | 1 | — | — | ||||||||||||||||||||||
Total | $ | 38,287 | $ | 46,292 | $ | 2,593 | $ | 38,669 | $ | 292 | $ | 372 | ||||||||||||||||
________________________________________________ | ||||||||||||||||||||||||||||
-1 | For the three months ended December 31, 2013 | |||||||||||||||||||||||||||
The following is a summary of information related to impaired loans as of and for the year ended September 30, 2013 (in thousands): | ||||||||||||||||||||||||||||
Recorded | Unpaid Principal Balance (Loan Balance Plus Charge Off) | Related | YTD | YTD Interest | YTD Cash Basis Interest Income Recognized (1) | |||||||||||||||||||||||
Investment | Allowance | Average | Income | |||||||||||||||||||||||||
Recorded | Recognized | |||||||||||||||||||||||||||
Investment (1) | -1 | |||||||||||||||||||||||||||
With no related allowance recorded: | ||||||||||||||||||||||||||||
Mortgage loans: | ||||||||||||||||||||||||||||
One- to four-family | $ | 5,342 | $ | 5,775 | $ | — | $ | 2,661 | $ | 18 | $ | 13 | ||||||||||||||||
Multi-family | — | 982 | — | 473 | 3 | 3 | ||||||||||||||||||||||
Commercial | 4,879 | 8,005 | — | 8,781 | 322 | 267 | ||||||||||||||||||||||
Construction – custom and owner/builder | — | — | — | 97 | — | — | ||||||||||||||||||||||
Construction – speculative one- to four-family | — | — | — | 65 | — | — | ||||||||||||||||||||||
Construction – multi-family | 143 | 608 | — | 293 | — | — | ||||||||||||||||||||||
Construction – land development | 515 | 3,279 | — | 534 | — | — | ||||||||||||||||||||||
Land | 1,188 | 2,133 | — | 3,519 | 9 | 8 | ||||||||||||||||||||||
Consumer loans: | ||||||||||||||||||||||||||||
Home equity and second mortgage | 380 | 556 | — | 266 | — | — | ||||||||||||||||||||||
Other | 6 | 6 | — | 8 | — | — | ||||||||||||||||||||||
Commercial business loans | — | 33 | — | — | — | — | ||||||||||||||||||||||
Subtotal | 12,453 | 21,377 | — | 16,697 | 352 | 291 | ||||||||||||||||||||||
With an allowance recorded: | ||||||||||||||||||||||||||||
Mortgage loans: | ||||||||||||||||||||||||||||
One- to four-family | 3,642 | 3,726 | 600 | 4,397 | 91 | 68 | ||||||||||||||||||||||
Multi-family | 5,184 | 5,184 | 334 | 5,960 | 301 | 230 | ||||||||||||||||||||||
Commercial | 14,631 | 15,297 | 1,763 | 9,052 | 526 | 420 | ||||||||||||||||||||||
Construction – custom and owner/builder | — | — | — | 60 | — | — | ||||||||||||||||||||||
Construction – speculative one- to four-family | 687 | 687 | 88 | 695 | 29 | 16 | ||||||||||||||||||||||
Construction – multi-family | — | — | — | — | — | — | ||||||||||||||||||||||
Land | 1,203 | 1,226 | 234 | 1,962 | 27 | 27 | ||||||||||||||||||||||
Consumer loans: | ||||||||||||||||||||||||||||
Home equity and second mortgage | 299 | 299 | 57 | 352 | 16 | 12 | ||||||||||||||||||||||
Other | — | — | — | — | — | — | ||||||||||||||||||||||
Subtotal | 25,646 | 26,419 | 3,076 | 22,478 | 990 | 773 | ||||||||||||||||||||||
Total | ||||||||||||||||||||||||||||
Mortgage loans: | ||||||||||||||||||||||||||||
One- to four-family | 8,984 | 9,501 | 600 | 7,058 | 109 | 81 | ||||||||||||||||||||||
Multi-family | 5,184 | 6,166 | 334 | 6,433 | 304 | 233 | ||||||||||||||||||||||
Commercial | 19,510 | 23,302 | 1,763 | 17,833 | 848 | 687 | ||||||||||||||||||||||
Construction – custom and owner/builder | — | — | — | 157 | — | — | ||||||||||||||||||||||
Construction – speculative one- to four-family | 687 | 687 | 88 | 760 | 29 | 16 | ||||||||||||||||||||||
Construction – multi-family | 143 | 608 | — | 293 | — | — | ||||||||||||||||||||||
Construction – land development | 515 | 3,279 | — | 534 | — | — | ||||||||||||||||||||||
Land | 2,391 | 3,359 | 234 | 5,481 | 36 | 35 | ||||||||||||||||||||||
Consumer loans: | ||||||||||||||||||||||||||||
Home equity and second mortgage | 679 | 855 | 57 | 618 | 16 | 12 | ||||||||||||||||||||||
Other | 6 | 6 | — | 8 | — | — | ||||||||||||||||||||||
Commercial business loans | — | 33 | — | — | — | — | ||||||||||||||||||||||
Total | $ | 38,099 | $ | 47,796 | $ | 3,076 | $ | 39,175 | $ | 1,342 | $ | 1,064 | ||||||||||||||||
______________________________________________ | ||||||||||||||||||||||||||||
(1) For the year ended September 30, 201 | ||||||||||||||||||||||||||||
Schedule of Non-performing Assets, Loans Receivable | ' | |||||||||||||||||||||||||||
The following table sets forth information with respect to the Company’s non-performing assets at December 31, 2013 and September 30, 2013 (dollars in thousands): | ||||||||||||||||||||||||||||
December 31, | September 30, | |||||||||||||||||||||||||||
2013 | 2013 | |||||||||||||||||||||||||||
Loans accounted for on a non-accrual basis: | ||||||||||||||||||||||||||||
Mortgage loans: | ||||||||||||||||||||||||||||
One- to four-family | $ | 6,184 | $ | 6,985 | ||||||||||||||||||||||||
Multi-family | — | — | ||||||||||||||||||||||||||
Commercial | 2,017 | 3,435 | ||||||||||||||||||||||||||
Construction – custom and owner/builder | — | — | ||||||||||||||||||||||||||
Construction – speculative one- to four-family | — | — | ||||||||||||||||||||||||||
Construction – multi-family | 143 | 144 | ||||||||||||||||||||||||||
Construction – land development | 190 | 515 | ||||||||||||||||||||||||||
Land | 5,371 | 2,146 | ||||||||||||||||||||||||||
Consumer loans: | ||||||||||||||||||||||||||||
Home equity and second mortgage | 226 | 380 | ||||||||||||||||||||||||||
Other | 5 | 5 | ||||||||||||||||||||||||||
Commercial business loans | 5 | — | ||||||||||||||||||||||||||
Total loans accounted for on a non-accrual basis | 14,141 | 13,610 | ||||||||||||||||||||||||||
Accruing loans which are contractually | 153 | 436 | ||||||||||||||||||||||||||
past due 90 days or more | ||||||||||||||||||||||||||||
Total of non-accrual and 90 days past due loans | 14,294 | 14,046 | ||||||||||||||||||||||||||
Non-accrual investment securities | 2,092 | 2,187 | ||||||||||||||||||||||||||
OREO and other repossessed assets, net | 12,483 | 11,720 | ||||||||||||||||||||||||||
Total non-performing assets (1) | $ | 28,869 | $ | 27,953 | ||||||||||||||||||||||||
Troubled debt restructured loans on accrual status (2) | $ | 18,260 | $ | 18,573 | ||||||||||||||||||||||||
Non-accrual and 90 days or more past | 2.52 | % | 2.51 | % | ||||||||||||||||||||||||
due loans as a percentage of loans receivable | ||||||||||||||||||||||||||||
Non-accrual and 90 days or more past | 1.96 | % | 1.88 | % | ||||||||||||||||||||||||
due loans as a percentage of total assets | ||||||||||||||||||||||||||||
Non-performing assets as a percentage of total assets | 3.97 | % | 3.75 | % | ||||||||||||||||||||||||
Loans receivable (3) | $ | 566,649 | $ | 559,240 | ||||||||||||||||||||||||
Total assets | $ | 727,933 | $ | 745,648 | ||||||||||||||||||||||||
___________________________________ | ||||||||||||||||||||||||||||
(1) Does not include troubled debt restructured loans on accrual status. | ||||||||||||||||||||||||||||
(2) Does not include troubled debt restructured loans totaling $3.2 million and $4.0 million reported as non-accrual loans at December 31, 2013 and September 30, 2013, respectively. | ||||||||||||||||||||||||||||
(3) Includes loans held for sale and before the allowance for loan losses. | ||||||||||||||||||||||||||||
Schedule of Troubled Debt Restructured Loans by Interest Accrual Status | ' | |||||||||||||||||||||||||||
The following table sets forth information with respect to the Company’s troubled debt restructured loans by interest accrual status as of December 31, 2013 and September 30, 2013 (dollars in thousands): | ||||||||||||||||||||||||||||
31-Dec-13 | ||||||||||||||||||||||||||||
Accruing | Non- | Total | ||||||||||||||||||||||||||
Accrual | ||||||||||||||||||||||||||||
Mortgage loans: | ||||||||||||||||||||||||||||
One- to four-family | $ | 1,989 | $ | 195 | $ | 2,184 | ||||||||||||||||||||||
Multi-family | 4,934 | — | 4,934 | |||||||||||||||||||||||||
Commercial | 10,109 | 1,547 | 11,656 | |||||||||||||||||||||||||
Construction – speculative one- to four-family | 686 | — | 686 | |||||||||||||||||||||||||
Construction – land development | — | 190 | 190 | |||||||||||||||||||||||||
Land | 243 | 1,092 | 1,335 | |||||||||||||||||||||||||
Consumer loans: | ||||||||||||||||||||||||||||
Home equity and second mortgage | 299 | 152 | 451 | |||||||||||||||||||||||||
Total | $ | 18,260 | $ | 3,176 | $ | 21,436 | ||||||||||||||||||||||
30-Sep-13 | ||||||||||||||||||||||||||||
Accruing | Non- | Total | ||||||||||||||||||||||||||
Accrual | ||||||||||||||||||||||||||||
Mortgage loans: | ||||||||||||||||||||||||||||
One- to four-family | $ | 1,999 | $ | 198 | $ | 2,197 | ||||||||||||||||||||||
Multi-family | 5,184 | — | 5,184 | |||||||||||||||||||||||||
Commercial | 10,160 | 1,574 | 11,734 | |||||||||||||||||||||||||
Construction – speculative one- to four-family | 687 | — | 687 | |||||||||||||||||||||||||
Construction – land development | — | 515 | 515 | |||||||||||||||||||||||||
Land | 244 | 1,564 | 1,808 | |||||||||||||||||||||||||
Consumer loans: | ||||||||||||||||||||||||||||
Home equity and second mortgage | 299 | 180 | 479 | |||||||||||||||||||||||||
Total | $ | 18,573 | $ | 4,031 | $ | 22,604 | ||||||||||||||||||||||
Schedule of Troubled Debt Restructurings by Portfolio Segment | ' | |||||||||||||||||||||||||||
Net_Income_Per_Common_Share_Ta
Net Income Per Common Share (Tables) | 3 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Earnings Per Share [Abstract] | ' | |||||||
Schedule of Earnings per Share | ' | |||||||
Three Months Ended December 31 | ||||||||
2013 | 2012 | |||||||
(Dollars in thousands, except for per share data) | ||||||||
Basic net income per common share computation | ||||||||
Numerator – net income | $ | 1,611 | $ | 1,708 | ||||
Preferred stock dividends | (136 | ) | (201 | ) | ||||
Preferred stock discount accretion | (70 | ) | (63 | ) | ||||
Net income to common shareholders | $ | 1,405 | $ | 1,444 | ||||
Denominator – weighted average | 6,853,683 | 6,815,782 | ||||||
common shares outstanding | ||||||||
Basic net income per common share | $ | 0.2 | $ | 0.21 | ||||
Diluted net income per common share computation | ||||||||
Numerator – net income | $ | 1,611 | $ | 1,708 | ||||
Preferred stock dividends | (136 | ) | (201 | ) | ||||
Preferred stock discount accretion | (70 | ) | (63 | ) | ||||
Net income to common shareholders | $ | 1,405 | $ | 1,444 | ||||
Denominator – weighted average | 6,853,683 | 6,815,782 | ||||||
common shares outstanding | ||||||||
Effect of dilutive stock options (1) | 29,596 | 5,224 | ||||||
Effect of dilutive stock warrant (2) | 95,106 | — | ||||||
Weighted average common shares | 6,978,385 | 6,821,006 | ||||||
and common stock equivalents | ||||||||
Diluted net income per common share | $ | 0.2 | $ | 0.21 | ||||
____________________________________________ | ||||||||
(1) For the three months ended December 31, 2013 and 2012, average options to purchase 125,198 and 212,152 shares of common stock, respectively, were outstanding but not included in the computation of diluted net income per common share because their effect would have been anti-dilutive. | ||||||||
(2) For the three months ended December 31, 2012, a warrant to purchase 370,899 shares of common stock was outstanding but not included in the computation of diluted net income per common share because the warrant's exercise price was greater than the average market price of the common stock, and, therefore, its effect would have been anti-dilutive. |
Stock_Plans_And_Stock_Based_Co1
Stock Plans And Stock Based Compensation (Tables) | 3 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Share-based Compensation [Abstract] | ' | |||||||||||||||
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award | ' | |||||||||||||||
Activity under the plans for the three months ended December 31, 2013 and 2012 is as follows: | ||||||||||||||||
Three Months Ended December 31, 2013 | Three Months Ended | |||||||||||||||
31-Dec-12 | ||||||||||||||||
Weighted | Weighted | |||||||||||||||
Average | Average | |||||||||||||||
Shares | Exercise | Shares | Exercise | |||||||||||||
Price | Price | |||||||||||||||
Options outstanding, beginning of period | 162,946 | $ | 6.96 | 195,626 | $ | 7.97 | ||||||||||
Exercised | (2,600 | ) | 4.59 | — | — | |||||||||||
Granted | 106,000 | 9 | 29,000 | 6 | ||||||||||||
Options outstanding, end of period | 266,346 | $ | 7.1 | 224,626 | $ | 7.71 | ||||||||||
Options exercisable, end of period | 83,946 | $ | 8.09 | 125,126 | $ | 9.54 | ||||||||||
Schedule of Fair Value Assumptions | ' | |||||||||||||||
The weighted average assumptions used for options granted during the three months ended December 31, 2013 and 2012 were: | ||||||||||||||||
2013 | 2012 | |||||||||||||||
Expected volatility | 39 | % | 45 | % | ||||||||||||
Expected term (in years) | 5 | 5 | ||||||||||||||
Expected dividend yield | 2.56 | % | — | % | ||||||||||||
Risk free interest rate | 1.35 | % | 0.76 | % | ||||||||||||
Grant date fair value per share | $ | 2.52 | $ | 2.37 | ||||||||||||
Schedule of Compensation Expense by Plan | ' | |||||||||||||||
Compensation expense for all stock-based plans were as follows: | ||||||||||||||||
Three Months Ended December 31, | ||||||||||||||||
2013 | 2012 | |||||||||||||||
(Dollars in thousands) | ||||||||||||||||
Stock | Stock | Stock | Stock | |||||||||||||
Options | Grants | Options | Grants | |||||||||||||
Compensation expense recognized in income | $ | 22 | $ | 2 | $ | 11 | $ | 13 | ||||||||
Schedule of Unrecognized Compensation Expense for Share-based Awards | ' | |||||||||||||||
As of December 31, 2013, the compensation expense yet to be recognized for stock-based awards that have been awarded but not vested for the years ending September 30 is as follows (dollars in thousands): | ||||||||||||||||
Stock | Stock | Total | ||||||||||||||
Options | Grants | Awards | ||||||||||||||
Remainder of 2014 | $ | 78 | $ | — | $ | 78 | ||||||||||
2015 | 98 | — | 98 | |||||||||||||
2016 | 97 | — | 97 | |||||||||||||
2017 | 88 | — | 88 | |||||||||||||
2018 | 55 | — | 55 | |||||||||||||
2019 | 4 | — | 4 | |||||||||||||
Total | $ | 420 | $ | — | $ | 420 | ||||||||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 3 Months Ended | |||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||||||
Fair Value, Assets Measured on Recurring Basis | ' | |||||||||||||||||||
The following table summarizes the balances of assets and liabilities measured at estimated fair value on a recurring basis at | ||||||||||||||||||||
December 31, 2013 (dollars in thousands): | ||||||||||||||||||||
Estimated Fair Value | ||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||
Available for Sale Securities | ||||||||||||||||||||
MBS: | ||||||||||||||||||||
U.S. government agencies | $ | — | $ | 2,121 | $ | — | $ | 2,121 | ||||||||||||
Private label residential | — | 866 | — | 866 | ||||||||||||||||
Mutual funds | 943 | — | — | 943 | ||||||||||||||||
Total | $ | 943 | $ | 2,987 | $ | — | $ | 3,930 | ||||||||||||
There were no transfers among Level 1, Level 2 and Level 3 during the three months ended December 31, 2013. | ||||||||||||||||||||
The following table summarizes the balances of assets and liabilities measured at estimated fair value on a recurring basis at September 30, 2013 (dollars in thousands): | ||||||||||||||||||||
Estimated Fair Value | ||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||
Available for Sale Securities | ||||||||||||||||||||
MBS: | ||||||||||||||||||||
U.S. government agencies | $ | — | $ | 2,229 | $ | — | $ | 2,229 | ||||||||||||
Private label residential | — | 914 | — | 914 | ||||||||||||||||
Mutual funds | 958 | — | — | 958 | ||||||||||||||||
Total | $ | 958 | $ | 3,143 | $ | — | $ | 4,101 | ||||||||||||
Balances of Assets Measured at Estimated Fair Value, Nonrecurring Basis | ' | |||||||||||||||||||
The following table summarizes the balances of assets measured at estimated fair value on a non-recurring basis at December 31, 2013, and the total losses resulting from these estimated fair value adjustments for the three months ended December 31, 2013 (dollars in thousands): | ||||||||||||||||||||
Estimated Fair Value | ||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total Losses | |||||||||||||||||
Impaired loans: | ||||||||||||||||||||
Mortgage Loans: | ||||||||||||||||||||
One-to four-family | $ | — | $ | — | $ | 2,405 | $ | 350 | ||||||||||||
Multi-family | — | — | 4,803 | — | ||||||||||||||||
Commercial | — | — | 11,289 | 295 | ||||||||||||||||
Construction – speculative one- to- four-family | — | — | 602 | — | ||||||||||||||||
Land | — | — | 4,298 | 93 | ||||||||||||||||
Consumer loans: | ||||||||||||||||||||
Home equity and second mortgage | — | — | 244 | 28 | ||||||||||||||||
Total impaired loans (1) | — | — | 23,641 | 766 | ||||||||||||||||
MBS – held to maturity (2): | ||||||||||||||||||||
Private label residential | — | 78 | — | 2 | ||||||||||||||||
OREO and other repossessed items (3) | — | — | 12,483 | 100 | ||||||||||||||||
Total | $ | — | $ | 78 | $ | 36,124 | $ | 868 | ||||||||||||
_______________________ | ||||||||||||||||||||
-1 | The loss represents charge-offs on collateral dependent loans for estimated fair value adjustments based on the estimated fair value of the collateral. Fair value is the recorded investment less the related allowance. | |||||||||||||||||||
-2 | The loss represents OTTI credit-related charges on held to maturity MBS. | |||||||||||||||||||
-3 | The loss represents the results of management’s periodic reviews of the recorded value to determine whether the property continues to be recorded at the lower of its recorded book value or estimated fair value, net of estimated costs to sell. | |||||||||||||||||||
The following table summarizes the balances of assets and liabilities measured at estimated fair value on a non-recurring basis at September 30, 2013 and the total losses resulting from these estimated fair value adjustments for the year ended September 30, 2013 (dollars in thousands): | ||||||||||||||||||||
Estimated Fair Value | ||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total Losses | |||||||||||||||||
Impaired loans: | ||||||||||||||||||||
Mortgage Loans: | ||||||||||||||||||||
One-to four-family | $ | — | $ | — | $ | 3,042 | $ | 769 | ||||||||||||
Multi-family | — | — | 4,850 | — | ||||||||||||||||
Commercial | — | — | 12,868 | 667 | ||||||||||||||||
Construction – speculative one-to four-family | — | — | 599 | — | ||||||||||||||||
Land | — | — | 969 | 2,307 | ||||||||||||||||
Consumer loans: | ||||||||||||||||||||
Home equity and second mortgage | — | — | 242 | 184 | ||||||||||||||||
Total impaired loans (1) | — | — | 22,570 | 3,927 | ||||||||||||||||
MBS – held to maturity (2): | ||||||||||||||||||||
Private label residential | — | 83 | — | 45 | ||||||||||||||||
OREO and other repossessed items (3) | — | — | 11,720 | 2,064 | ||||||||||||||||
Total | $ | — | $ | 83 | $ | 34,290 | $ | 6,036 | ||||||||||||
_______________________ | ||||||||||||||||||||
-1 | The loss represents charge-offs on collateral dependent loans for estimated fair value adjustments based on the estimated fair value of the collateral. Fair value is the recorded investment less the related allowance. | |||||||||||||||||||
-2 | The loss represents OTTI credit-related charges on held to maturity MBS. | |||||||||||||||||||
-3 | The loss represents the results of management’s periodic reviews of the recorded value to determine whether the property continues to be recorded at the lower of its recorded book value or estimated fair value, net of estimated costs to sell. | |||||||||||||||||||
Level 3 Fair Value Measurements, Nonrecurring Basis | ' | |||||||||||||||||||
The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a non-recurring basis at the date indicated (dollars in thousands): | ||||||||||||||||||||
31-Dec-13 | ||||||||||||||||||||
Estimated | ||||||||||||||||||||
Fair Value | Valuation | |||||||||||||||||||
Technique(s) | Unobservable Input(s) | Range | ||||||||||||||||||
Impaired loans | $ | 23,641 | Market approach | Appraised value of underlying collateral less selling costs | NA | |||||||||||||||
OREO and other repossessed assets | $ | 12,483 | Market approach | Lower of appraised value or listing price less selling costs | NA | |||||||||||||||
Balances of Assets and Liabilities Measured at Estimated Fair Value, Recurring Basis | ' | |||||||||||||||||||
The estimated fair values of financial instruments were as follows as of December 31, 2013 and September 30, 2013 (dollars in thousands): | ||||||||||||||||||||
31-Dec-13 | ||||||||||||||||||||
Fair Value Measurements Using: | ||||||||||||||||||||
Recorded | ||||||||||||||||||||
Amount | Total | Level 1 | Level 2 | Level 3 | ||||||||||||||||
Financial Assets | ||||||||||||||||||||
Cash and cash equivalents | $ | 66,238 | $ | 66,238 | $ | 66,238 | $ | — | $ | — | ||||||||||
CDs held for investment | 32,428 | 32,428 | 32,428 | — | — | |||||||||||||||
MBS and other investments | 6,547 | 7,363 | 943 | 6,420 | — | |||||||||||||||
FHLB stock | 5,401 | 5,401 | 5,401 | — | — | |||||||||||||||
Loans receivable, net | 554,910 | 528,482 | — | — | 528,482 | |||||||||||||||
Loans held for sale | 994 | 1,028 | 1,028 | — | — | |||||||||||||||
Accrued interest receivable | 2,092 | 2,092 | 2,092 | — | — | |||||||||||||||
Financial Liabilities | ||||||||||||||||||||
Deposits: | ||||||||||||||||||||
Non-interest-bearing demand | $ | 98,585 | $ | 98,585 | $ | 98,585 | $ | — | $ | — | ||||||||||
Interest-bearing | 502,898 | 504,090 | 337,120 | — | 166,970 | |||||||||||||||
Total deposits | 601,483 | 602,675 | 435,705 | — | 166,970 | |||||||||||||||
FHLB advances | 45,000 | 47,935 | — | 47,935 | — | |||||||||||||||
Accrued interest payable | 314 | 314 | 314 | — | — | |||||||||||||||
30-Sep-13 | ||||||||||||||||||||
Fair Value Measurements Using: | ||||||||||||||||||||
Recorded | ||||||||||||||||||||
Amount | Total | Level 1 | Level 2 | Level 3 | ||||||||||||||||
Financial Assets | ||||||||||||||||||||
Cash and cash equivalents | $ | 94,496 | $ | 94,496 | $ | 94,496 | $ | — | $ | — | ||||||||||
CDs held for investment | 30,042 | 30,042 | 30,042 | — | — | |||||||||||||||
MBS and other investments | 6,838 | 7,634 | 973 | 6,661 | — | |||||||||||||||
FHLB stock | 5,452 | 5,452 | 5,452 | — | — | |||||||||||||||
Loans receivable, net | 546,193 | 534,364 | — | — | 534,364 | |||||||||||||||
Loans held for sale | 1,911 | 1,973 | 1,973 | — | — | |||||||||||||||
Accrued interest receivable | 1,972 | 1,972 | 1,972 | — | — | |||||||||||||||
Financial Liabilities | ||||||||||||||||||||
Deposits: | ||||||||||||||||||||
Non-interest-bearing demand | $ | 87,657 | $ | 87,657 | $ | 87,657 | $ | — | $ | — | ||||||||||
Interest-bearing | 520,605 | 522,021 | 346,455 | — | 175,566 | |||||||||||||||
Total deposits | 608,262 | 609,678 | 434,112 | — | 175,566 | |||||||||||||||
FHLB advances | 45,000 | 48,445 | — | 48,445 | — | |||||||||||||||
Accrued interest payable | 320 | 320 | 320 | — | — | |||||||||||||||
Preferred_Stock_Received_in_Tr1
Preferred Stock Received in Troubled Asset Relief Program ("TARP") Capital Purchase Program ("CPP") (Details) (USD $) | Dec. 31, 2013 | Sep. 30, 2013 | Dec. 23, 2008 | Dec. 31, 2013 | Nov. 13, 2012 | Dec. 23, 2008 | Dec. 23, 2008 | Dec. 23, 2008 |
Series A Preferred Stock | Series A Preferred Stock | Series A Preferred Stock | Series A Preferred Stock | Series A Preferred Stock | ||||
Minimum | Maximum | |||||||
Class of Stock [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred stock, proceeds from Capital Purchase Program (CPP) | ' | ' | $16,640,000 | ' | ' | ' | ' | ' |
Preferred stock shares issued | 12,065 | 16,641 | ' | ' | 16,641 | 16,641 | ' | ' |
Preferred stock per share liquidation value (in dollars per share) | $1,000 | $1,000 | ' | ' | ' | $1,000 | ' | ' |
Warrants to purchase shares of common stock | ' | ' | 370,899 | ' | ' | ' | ' | ' |
Warrant, exercise price per share (in dollars per share) | ' | ' | $6.73 | ' | ' | ' | ' | ' |
Preferred stock dividend rate | ' | ' | ' | ' | ' | ' | 5.00% | 9.00% |
Preferred stock dividend, term of initial rate | ' | ' | ' | '5 years | ' | ' | ' | ' |
Shares repurchased and retired (in shares) | ' | ' | ' | 4,576 | ' | ' | ' | ' |
Shares repurchased and retired, amount | ' | ' | ' | 4,320,000 | ' | ' | ' | ' |
Shares repurchased and retired, discount from par value | ' | ' | ' | $255,000 | ' | ' | ' | ' |
MBS_And_Other_Investments_Mark
MBS And Other Investments: Marketable Securities (Details) (USD $) | Dec. 31, 2013 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | ||
Held to Maturity | ' | ' |
Amortized Cost | $2,617 | $2,737 |
Gross Unrealized Gains | 839 | 813 |
Gross Unrealized Losses | -23 | -17 |
Estimated Fair Value | 3,433 | 3,533 |
Available for Sale | ' | ' |
Amortized Cost | 3,775 | 3,948 |
Gross Unrealized Gains | 223 | 207 |
Gross Unrealized Losses | -68 | -54 |
Estimated Fair Value | 3,930 | 4,101 |
Mortgage-backed Securities, U.S. government agencies | ' | ' |
Held to Maturity | ' | ' |
Amortized Cost | 1,152 | 1,202 |
Gross Unrealized Gains | 33 | 31 |
Gross Unrealized Losses | -2 | -2 |
Estimated Fair Value | 1,183 | 1,231 |
Available for Sale | ' | ' |
Amortized Cost | 2,012 | 2,144 |
Gross Unrealized Gains | 111 | 87 |
Gross Unrealized Losses | -2 | -2 |
Estimated Fair Value | 2,121 | 2,229 |
Mortgage-backed Securities, Private label residential | ' | ' |
Held to Maturity | ' | ' |
Amortized Cost | 1,451 | 1,521 |
Gross Unrealized Gains | 805 | 781 |
Gross Unrealized Losses | -21 | -15 |
Estimated Fair Value | 2,235 | 2,287 |
Available for Sale | ' | ' |
Amortized Cost | 763 | 804 |
Gross Unrealized Gains | 112 | 120 |
Gross Unrealized Losses | -9 | -10 |
Estimated Fair Value | 866 | 914 |
U.S. agency securities | ' | ' |
Held to Maturity | ' | ' |
Amortized Cost | 14 | 14 |
Gross Unrealized Gains | 1 | 1 |
Gross Unrealized Losses | 0 | 0 |
Estimated Fair Value | 15 | 15 |
Mutual funds | ' | ' |
Available for Sale | ' | ' |
Amortized Cost | 1,000 | 1,000 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | -57 | -42 |
Estimated Fair Value | $943 | $958 |
MBS_And_Other_Investments_Unre
MBS And Other Investments: Unrealized Gain (Loss) on Investments (Details) (USD $) | Dec. 31, 2013 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | security | security |
Held-to-maturity Securities, Fair Value: | ' | ' |
Less Than 12 Months | $97 | $83 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 302 | 327 |
Total | 399 | 410 |
Held-to-maturity Securities, Gross Unrealized Losses | ' | ' |
Less Than 12 Months | -7 | -4 |
12 Months or Longer | -16 | -13 |
Total | -23 | -17 |
Held-to-maturity, Qty, Less Than 12 Months | 8 | 10 |
Held-to-maturity, Qty, 12 Months or Longer | 19 | 18 |
Available-for-sale Securities, Fair Value: | ' | ' |
Less Than 12 Months | 984 | 1,054 |
Available-for-sale Securities, 12 Months or Longer, Estimated Fair Value | 101 | 108 |
Total | 1,085 | 1,162 |
Available-for-sale Securities, Gross Unrealized Losses: | ' | ' |
Less Than 12 Months | -59 | -44 |
12 Months or Longer | -9 | -10 |
Total | -68 | -54 |
Available-for-sale, Qty, Less than 12 Months | 3 | ' |
Available-for-sale, Qty, 12 Months or Longer | 3 | 3 |
Mortgage-backed Securities, U.S. government agencies | ' | ' |
Held-to-maturity Securities, Fair Value: | ' | ' |
Less Than 12 Months | 18 | 3 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 85 | 88 |
Total | 103 | 91 |
Held-to-maturity Securities, Gross Unrealized Losses | ' | ' |
Less Than 12 Months | 0 | 0 |
12 Months or Longer | -2 | -2 |
Total | -2 | -2 |
Held-to-maturity, Qty, Less Than 12 Months | 4 | 6 |
Held-to-maturity, Qty, 12 Months or Longer | 7 | 4 |
Available-for-sale Securities, Fair Value: | ' | ' |
Less Than 12 Months | 41 | ' |
Available-for-sale Securities, Gross Unrealized Losses: | ' | ' |
Less Than 12 Months | 2 | ' |
Available-for-sale, Qty, Less than 12 Months | 2 | ' |
Mortgage-backed Securities, Private label residential | ' | ' |
Held-to-maturity Securities, Fair Value: | ' | ' |
Less Than 12 Months | 79 | 80 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 217 | 239 |
Total | 296 | 319 |
Held-to-maturity Securities, Gross Unrealized Losses | ' | ' |
Less Than 12 Months | -7 | -4 |
12 Months or Longer | -14 | -11 |
Total | -21 | -15 |
Held-to-maturity, Qty, Less Than 12 Months | 4 | 4 |
Held-to-maturity, Qty, 12 Months or Longer | 12 | 14 |
Available-for-sale Securities, Fair Value: | ' | ' |
Less Than 12 Months | 0 | 0 |
Available-for-sale Securities, 12 Months or Longer, Estimated Fair Value | 101 | 108 |
Total | 101 | 108 |
Available-for-sale Securities, Gross Unrealized Losses: | ' | ' |
Less Than 12 Months | 0 | 0 |
12 Months or Longer | -9 | -10 |
Total | -9 | -10 |
Available-for-sale, Qty, 12 Months or Longer | 2 | 2 |
Mutual funds | ' | ' |
Available-for-sale Securities, Fair Value: | ' | ' |
Less Than 12 Months | 943 | ' |
Available-for-sale Securities, 12 Months or Longer, Estimated Fair Value | 0 | ' |
Total | 943 | ' |
Available-for-sale Securities, Gross Unrealized Losses: | ' | ' |
Less Than 12 Months | -57 | ' |
12 Months or Longer | 0 | ' |
Total | ($57) | ' |
Available-for-sale, Qty, Less than 12 Months | 1 | ' |
MBS_And_Other_Investments_Narr
MBS And Other Investments: Narrative-OTTI charges recorded through earnings (Details) (Mortgage-backed Securities, Private label residential, USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Mortgage-backed Securities, Private label residential | ' | ' |
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items] | ' | ' |
OTTI charges recognized in earnings | $2 | $10 |
MBS_And_Other_Investments_Sche
MBS And Other Investments: Schedule of significant inputs utilized to measure management's estimate of the credit loss component on OTTI securities (Details) | Dec. 31, 2013 | Sep. 30, 2013 |
Minimum | ' | ' |
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items] | ' | ' |
OTTI significant inputs - Constant prepayment rate | 6.00% | 6.00% |
OTTI significant inputs - Collateral default rate | 0.52% | 0.73% |
OTTI significant inputs - Loss severity rate | 20.34% | 20.48% |
Maximum | ' | ' |
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items] | ' | ' |
OTTI significant inputs - Constant prepayment rate | 15.00% | 15.00% |
OTTI significant inputs - Collateral default rate | 20.40% | 22.53% |
OTTI significant inputs - Loss severity rate | 71.52% | 75.02% |
Weighted Average | ' | ' |
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Line Items] | ' | ' |
OTTI significant inputs - Constant prepayment rate | 12.72% | 12.33% |
OTTI significant inputs - Collateral default rate | 6.79% | 7.84% |
OTTI significant inputs - Loss severity rate | 43.78% | 52.69% |
MBS_And_Other_Investments_Sche1
MBS And Other Investments: Schedule of Other than Temporary Impairments (Details) (USD $) | 12 Months Ended | 3 Months Ended | |||||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | ||||
Held-to-maturity Securities | Held-to-maturity Securities | Available-for-sale Securities | Available-for-sale Securities | ||||||
Held to Maturity | ' | ' | ' | ' | ' | ||||
Total OTTI | ' | ($3) | ($6) | ' | ' | ||||
Portion of OTTI recognized in other comprehensive (income) loss (before income taxes) | ' | 1 | [1] | -3 | [1] | ' | ' | ||
Net OTTI recognized in earnings | -57 | -2 | [2] | -9 | [2] | ' | ' | ||
Available for Sale | ' | ' | ' | ' | ' | ||||
Total OTTI | ' | ' | ' | 0 | -1 | ||||
Portion of OTTI recognized in other comprehensive (income) loss (before income taxes) | ' | ' | ' | 0 | [1] | 0 | [1] | ||
Net OTTI recognized in earnings | ' | ' | ' | $0 | [2] | ($1) | [2] | ||
[1] | Represents OTTI related to all other factors. | ||||||||
[2] | Represents OTTI related to credit losses. |
MBS_And_Other_Investments_Narr1
MBS And Other Investments: Narrative-Realized Gains (Losses) (Details) (USD $) | 3 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | |
security | security | ||
Investments [Abstract] | ' | ' | ' |
Gain on sale of securities | $0 | $20,000 | ' |
Loss on sale of securities | 40,000 | 232,000 | ' |
Held-to-maturity securities, realized loss, number of securities | 14 | 16 | ' |
Available-for-sale securities, realized loss, number of securities | 6 | 6 | ' |
Security owned and pledged as collateral | $4,150,000 | ' | $4,540,000 |
MBS_And_Other_Investments_Sche2
MBS And Other Investments: Schedule of Contractual maturities of debt securities (Details) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Held-to-maturity Securities, Amortized Cost: | ' |
Due within one year | $0 |
Due after one year to five years | 20 |
Due after five to ten years | 18 |
Due after ten years | 2,579 |
Total | 2,617 |
Held-to-maturity Securities, Estimated Fair Value: | ' |
Due within one year | 0 |
Due after one year to five years | 22 |
Due after five to ten years | 18 |
Due after ten years | 3,393 |
Total | 3,433 |
Available-for-sale Securities, Amortized Cost: | ' |
Due within one year | 0 |
Due after one year to five years | 26 |
Due after five to ten years | 27 |
Due after ten years | 2,722 |
Total | 2,775 |
Available-for-sale Securities, Estimated Fair Value: | ' |
Due within one year | 0 |
Due after one year to five years | 26 |
Due after five to ten years | 27 |
Due after ten years | 2,934 |
Total | $2,987 |
Goodwill_Details
Goodwill (Details) (USD $) | Dec. 31, 2013 | Sep. 30, 2013 | 31-May-12 |
Goodwill [Line Items] | ' | ' | ' |
Goodwill, fair value | ' | ' | $25,000,000 |
Goodwill | 5,650,000 | 5,650,000 | 5,700,000 |
Goodwill, percentage by which fair value exceeds carrying value | ' | ' | 339.00% |
Expected control premium | ' | ' | 30.00% |
Annual growth rate | ' | ' | 3.00% |
Discount rate | ' | ' | 15.00% |
Terminal value | ' | ' | 110.00% |
Goodwill, amountby which fair value exceeds carrying value | ' | ' | 19,300,000 |
Special Mention or Substandard | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' |
Loans receivable, discount rate | ' | ' | 25.00% |
Nonperforming Loans | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' |
Loans receivable, discount rate | ' | ' | 50.00% |
Corporate Value Approach | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' |
Fair value of reporting unit | ' | ' | 89,000,000 |
Income Approach | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' |
Fair value of reporting unit | ' | ' | 82,000,000 |
Market Approach | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' |
Fair value of reporting unit | ' | ' | 96,000,000 |
Minimum | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' |
Return on assets | ' | ' | 0.54% |
Maximum | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' |
Return on assets | ' | ' | 1.01% |
Average | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' |
Return on assets | ' | ' | 0.73% |
Fair value of reporting unit | ' | ' | $87,000,000 |
Loans_Receivable_And_Allowance2
Loans Receivable And Allowance For Loan Losses: Schedule of Loans receivable and Loans held for sale (Details) (USD $) | Dec. 31, 2013 | Sep. 30, 2013 | ||
In Thousands, unless otherwise specified | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ||
Mortgage loans | $53,693 | $45,136 | ||
Total loans receivable | 589,779 | 579,477 | ||
Undisbursed portion of construction loans in process | -21,362 | -18,527 | ||
Deferred loan origination fees | -1,768 | -1,710 | ||
Less: Allowance for loan losses | -10,745 | -11,136 | ||
Total loans receivable, net | 555,904 | 548,104 | ||
Ratio of loan category to total loans receivable (percent) | 100.00% | 100.00% | ||
Total mortgage loans | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ||
Mortgage loans | 533,883 | 522,983 | ||
Ratio of loan category to total loans receivable (percent) | 90.50% | 90.30% | ||
Mortgage loans, one-to-four family | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ||
Mortgage loans | 100,869 | [1] | 104,298 | [1] |
Ratio of loan category to total loans receivable (percent) | 17.10% | [1] | 18.00% | [1] |
Mortgage loans, multi-family | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ||
Mortgage loans | 48,212 | 51,108 | ||
Ratio of loan category to total loans receivable (percent) | 8.20% | 8.80% | ||
Mortgage loans, commercial | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ||
Mortgage loans | 299,644 | 291,297 | ||
Ratio of loan category to total loans receivable (percent) | 50.80% | 50.30% | ||
Mortgage loans, construction and land development | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ||
Mortgage loans | 53,694 | 45,136 | ||
Ratio of loan category to total loans receivable (percent) | 9.10% | 7.80% | ||
Mortgage loans, land | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ||
Mortgage loans | 31,464 | 31,144 | ||
Ratio of loan category to total loans receivable (percent) | 5.30% | 5.40% | ||
Total consumer loans | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ||
Consumer loans | 38,164 | 38,995 | ||
Ratio of loan category to total loans receivable (percent) | 6.50% | 6.70% | ||
Consumer loans, home equity and second mortgage | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ||
Consumer loans | 32,201 | 33,014 | ||
Ratio of loan category to total loans receivable (percent) | 5.50% | 5.70% | ||
Consumer loans, other | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ||
Consumer loans | 5,963 | 5,981 | ||
Ratio of loan category to total loans receivable (percent) | 1.00% | 1.00% | ||
Commercial business loans | ' | ' | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ||
Commercial business loans | $17,732 | $17,499 | ||
Ratio of loan category to total loans receivable (percent) | 3.00% | 3.00% | ||
[1] | Includes loans held for sale. |
Loans_Receivable_And_Allowance3
Loans Receivable And Allowance For Loan Losses: Schedule of Composition of Construction and Land Development Loan Portfolio (Details) (USD $) | Dec. 31, 2013 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total construction and land development loans, amount | $53,693 | $45,136 |
Total construction and land development loans, percent | 100.00% | 100.00% |
Mortgage loans, construction - custom and owner/builder | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total construction and land development loans, amount | 46,789 | 40,811 |
Total construction and land development loans, percent | 87.10% | 90.40% |
Mortgage loans, construction - speculative one-to-four family | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total construction and land development loans, amount | 2,104 | 1,428 |
Total construction and land development loans, percent | 3.90% | 3.20% |
Construction - Commercial real estate | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total construction and land development loans, amount | 4,467 | 2,239 |
Total construction and land development loans, percent | 8.30% | 5.00% |
Mortgage loans, construction - Multi-family | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total construction and land development loans, amount | 143 | 143 |
Total construction and land development loans, percent | 0.30% | 0.30% |
Mortgage loans, construction - land development | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total construction and land development loans, amount | $190 | $515 |
Total construction and land development loans, percent | 0.40% | 1.10% |
Loans_Receivable_And_Allowance4
Loans Receivable And Allowance For Loan Losses: Schedule of Allowance for Loan Losses (Details) (USD $) | 3 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Jun. 30, 2012 | Dec. 31, 2011 |
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ' | ' | ' | ' |
Allowance for loan losses, Beginning Allowance | $11,136 | ' | $11,769 | $11,825 |
Provision/(Credit) | 0 | 200 | ' | ' |
Charge-offs | 780 | 496 | ' | ' |
Recoveries | 389 | 240 | ' | ' |
Allowance for loan losses, Ending Allowance | 10,745 | 11,136 | 11,769 | 11,825 |
Mortgage loans, one-to-four family | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ' | ' | ' | ' |
Allowance for loan losses, Beginning Allowance | 1,449 | ' | 1,829 | 1,558 |
Provision/(Credit) | 214 | 533 | ' | ' |
Charge-offs | 350 | 263 | ' | ' |
Recoveries | 8 | 1 | ' | ' |
Allowance for loan losses, Ending Allowance | 1,321 | 1,449 | 1,829 | 1,558 |
Mortgage loans, multi-family | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ' | ' | ' | ' |
Allowance for loan losses, Beginning Allowance | 749 | ' | 945 | 1,156 |
Provision/(Credit) | -198 | -212 | ' | ' |
Charge-offs | 0 | 0 | ' | ' |
Recoveries | 0 | 1 | ' | ' |
Allowance for loan losses, Ending Allowance | 551 | 749 | 945 | 1,156 |
Mortgage loans, commercial | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ' | ' | ' | ' |
Allowance for loan losses, Beginning Allowance | 5,275 | ' | 4,463 | 4,247 |
Provision/(Credit) | 130 | 216 | ' | ' |
Charge-offs | 295 | 0 | ' | ' |
Recoveries | 3 | 0 | ' | ' |
Allowance for loan losses, Ending Allowance | 5,113 | 5,275 | 4,463 | 4,247 |
Mortgage loans, construction - custom and owner/builder | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ' | ' | ' | ' |
Allowance for loan losses, Beginning Allowance | 262 | ' | 294 | 386 |
Provision/(Credit) | 70 | -92 | ' | ' |
Charge-offs | 0 | 0 | ' | ' |
Recoveries | 0 | 0 | ' | ' |
Allowance for loan losses, Ending Allowance | 332 | 262 | 294 | 386 |
Mortgage loans, construction - speculative one-to-four family | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ' | ' | ' | ' |
Allowance for loan losses, Beginning Allowance | 96 | ' | 132 | 128 |
Provision/(Credit) | 22 | 4 | ' | ' |
Charge-offs | 0 | 0 | ' | ' |
Recoveries | 0 | 0 | ' | ' |
Allowance for loan losses, Ending Allowance | 118 | 96 | 132 | 128 |
Mortgage loans, construction – commercial | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ' | ' | ' | ' |
Allowance for loan losses, Beginning Allowance | 56 | ' | 371 | 429 |
Provision/(Credit) | 24 | -58 | ' | ' |
Charge-offs | 0 | 0 | ' | ' |
Recoveries | 0 | 0 | ' | ' |
Allowance for loan losses, Ending Allowance | 80 | 56 | 371 | 429 |
Mortgage loans, construction - Multi-family | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ' | ' | ' | ' |
Allowance for loan losses, Beginning Allowance | 0 | ' | 0 | 0 |
Provision/(Credit) | 0 | 0 | ' | ' |
Charge-offs | 0 | 0 | ' | ' |
Recoveries | 0 | 0 | ' | ' |
Allowance for loan losses, Ending Allowance | 0 | ' | 0 | 0 |
Mortgage loans, construction - land development | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ' | ' | ' | ' |
Allowance for loan losses, Beginning Allowance | 0 | ' | 20 | 0 |
Provision/(Credit) | -69 | -120 | ' | ' |
Charge-offs | 0 | 6 | ' | ' |
Recoveries | 69 | 146 | ' | ' |
Allowance for loan losses, Ending Allowance | 0 | 0 | 20 | 0 |
Mortgage loans, land | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ' | ' | ' | ' |
Allowance for loan losses, Beginning Allowance | 1,940 | ' | 2,285 | 2,392 |
Provision/(Credit) | -282 | 101 | ' | ' |
Charge-offs | 93 | 209 | ' | ' |
Recoveries | 300 | 1 | ' | ' |
Allowance for loan losses, Ending Allowance | 1,865 | 1,940 | 2,285 | 2,392 |
Consumer loans, home equity and second mortgage | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ' | ' | ' | ' |
Allowance for loan losses, Beginning Allowance | 782 | ' | 722 | 759 |
Provision/(Credit) | 55 | -19 | ' | ' |
Charge-offs | 28 | 18 | ' | ' |
Recoveries | 0 | 0 | ' | ' |
Allowance for loan losses, Ending Allowance | 809 | 782 | 722 | 759 |
Consumer loans, other | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ' | ' | ' | ' |
Allowance for loan losses, Beginning Allowance | 200 | ' | 249 | 254 |
Provision/(Credit) | 8 | -5 | ' | ' |
Charge-offs | 0 | 0 | ' | ' |
Recoveries | 0 | 0 | ' | ' |
Allowance for loan losses, Ending Allowance | 208 | 200 | 249 | 254 |
Commercial business loans | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ' | ' | ' | ' |
Allowance for loan losses, Beginning Allowance | 327 | ' | 459 | 516 |
Provision/(Credit) | 26 | -148 | ' | ' |
Charge-offs | 14 | 0 | ' | ' |
Recoveries | 9 | 91 | ' | ' |
Allowance for loan losses, Ending Allowance | $348 | $327 | $459 | $516 |
Loans_Receivable_And_Allowance5
Loans Receivable And Allowance For Loan Losses: Schedule of loans evaluated individually for impairment and collectively evaluated for impairment in the allowance for loan losses (Details) (USD $) | Dec. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Jun. 30, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Allowance for Loan Losses, Individually Evaluated for Impairment | $2,593 | $3,076 | ' | ' | ' |
Allowance for Loan Losses, Collectively Evaluated for Impairment | 8,152 | 8,060 | ' | ' | ' |
Allowance for Loan Losses, Total | 10,745 | 11,136 | 11,136 | 11,769 | 11,825 |
Recorded Investment in Loans, Individually Evaluated for Impairment | 38,287 | 38,099 | ' | ' | ' |
Recorded Investment in Loans, Collectively Evaluated for Impairment | 530,130 | 522,851 | ' | ' | ' |
Loans receivable | 568,417 | 560,950 | ' | ' | ' |
Mortgage loans, one-to-four family | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Allowance for Loan Losses, Individually Evaluated for Impairment | 440 | 600 | ' | ' | ' |
Allowance for Loan Losses, Collectively Evaluated for Impairment | 881 | 849 | ' | ' | ' |
Allowance for Loan Losses, Total | 1,321 | 1,449 | 1,449 | 1,829 | 1,558 |
Recorded Investment in Loans, Individually Evaluated for Impairment | 8,173 | 8,984 | ' | ' | ' |
Recorded Investment in Loans, Collectively Evaluated for Impairment | 92,696 | 95,314 | ' | ' | ' |
Loans receivable | 100,869 | 104,298 | ' | ' | ' |
Mortgage loans, multi-family | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Allowance for Loan Losses, Individually Evaluated for Impairment | 131 | 334 | ' | ' | ' |
Allowance for Loan Losses, Collectively Evaluated for Impairment | 420 | 415 | ' | ' | ' |
Allowance for Loan Losses, Total | 551 | 749 | 749 | 945 | 1,156 |
Recorded Investment in Loans, Individually Evaluated for Impairment | 4,934 | 5,184 | ' | ' | ' |
Recorded Investment in Loans, Collectively Evaluated for Impairment | 43,278 | 45,924 | ' | ' | ' |
Loans receivable | 48,212 | 51,108 | ' | ' | ' |
Mortgage loans, construction - speculative one-to-four family | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Allowance for Loan Losses, Individually Evaluated for Impairment | 84 | 88 | ' | ' | ' |
Allowance for Loan Losses, Collectively Evaluated for Impairment | 34 | 8 | ' | ' | ' |
Allowance for Loan Losses, Total | 118 | 96 | 96 | 132 | 128 |
Recorded Investment in Loans, Individually Evaluated for Impairment | 686 | 687 | ' | ' | ' |
Recorded Investment in Loans, Collectively Evaluated for Impairment | 906 | 236 | ' | ' | ' |
Loans receivable | 1,592 | 923 | ' | ' | ' |
Mortgage loans, construction – commercial | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Allowance for Loan Losses, Individually Evaluated for Impairment | 0 | 0 | ' | ' | ' |
Allowance for Loan Losses, Collectively Evaluated for Impairment | 80 | 56 | ' | ' | ' |
Allowance for Loan Losses, Total | 80 | 56 | 56 | 371 | 429 |
Recorded Investment in Loans, Individually Evaluated for Impairment | 0 | 0 | ' | ' | ' |
Recorded Investment in Loans, Collectively Evaluated for Impairment | 3,050 | 2,239 | ' | ' | ' |
Loans receivable | 3,050 | 2,239 | ' | ' | ' |
Mortgage loans, construction - Multi-family | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Allowance for Loan Losses, Individually Evaluated for Impairment | 0 | 0 | ' | ' | ' |
Allowance for Loan Losses, Collectively Evaluated for Impairment | 0 | 0 | ' | ' | ' |
Allowance for Loan Losses, Total | 0 | 0 | ' | 0 | 0 |
Recorded Investment in Loans, Individually Evaluated for Impairment | 143 | 143 | ' | ' | ' |
Recorded Investment in Loans, Collectively Evaluated for Impairment | 0 | 1 | ' | ' | ' |
Loans receivable | 143 | 144 | ' | ' | ' |
Mortgage loans, construction - land development | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Allowance for Loan Losses, Individually Evaluated for Impairment | 0 | 0 | ' | ' | ' |
Allowance for Loan Losses, Collectively Evaluated for Impairment | 0 | 0 | ' | ' | ' |
Allowance for Loan Losses, Total | 0 | 0 | 0 | 20 | 0 |
Recorded Investment in Loans, Individually Evaluated for Impairment | 190 | 515 | ' | ' | ' |
Recorded Investment in Loans, Collectively Evaluated for Impairment | 0 | 0 | ' | ' | ' |
Loans receivable | 190 | 515 | ' | ' | ' |
Mortgage loans, land | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Allowance for Loan Losses, Individually Evaluated for Impairment | 368 | 234 | ' | ' | ' |
Allowance for Loan Losses, Collectively Evaluated for Impairment | 1,497 | 1,706 | ' | ' | ' |
Allowance for Loan Losses, Total | 1,865 | 1,940 | 1,940 | 2,285 | 2,392 |
Recorded Investment in Loans, Individually Evaluated for Impairment | 5,614 | 2,391 | ' | ' | ' |
Recorded Investment in Loans, Collectively Evaluated for Impairment | 25,850 | 28,753 | ' | ' | ' |
Loans receivable | 31,464 | 31,144 | ' | ' | ' |
Consumer loans, home equity and second mortgage | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Allowance for Loan Losses, Individually Evaluated for Impairment | 55 | 57 | ' | ' | ' |
Allowance for Loan Losses, Collectively Evaluated for Impairment | 754 | 725 | ' | ' | ' |
Allowance for Loan Losses, Total | 809 | 782 | 782 | 722 | 759 |
Recorded Investment in Loans, Individually Evaluated for Impairment | 525 | 679 | ' | ' | ' |
Recorded Investment in Loans, Collectively Evaluated for Impairment | 31,676 | 32,335 | ' | ' | ' |
Loans receivable | 32,201 | 33,014 | ' | ' | ' |
Consumer loans, other | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Allowance for Loan Losses, Individually Evaluated for Impairment | 0 | 0 | ' | ' | ' |
Allowance for Loan Losses, Collectively Evaluated for Impairment | 208 | 200 | ' | ' | ' |
Allowance for Loan Losses, Total | 208 | 200 | 200 | 249 | 254 |
Recorded Investment in Loans, Individually Evaluated for Impairment | 5 | 6 | ' | ' | ' |
Recorded Investment in Loans, Collectively Evaluated for Impairment | 5,958 | 5,975 | ' | ' | ' |
Loans receivable | 5,963 | 5,981 | ' | ' | ' |
Mortgage loans, commercial | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Allowance for Loan Losses, Individually Evaluated for Impairment | 1,515 | 1,763 | ' | ' | ' |
Allowance for Loan Losses, Collectively Evaluated for Impairment | 3,598 | 3,512 | ' | ' | ' |
Allowance for Loan Losses, Total | 5,113 | 5,275 | 5,275 | 4,463 | 4,247 |
Recorded Investment in Loans, Individually Evaluated for Impairment | 18,012 | 19,510 | ' | ' | ' |
Recorded Investment in Loans, Collectively Evaluated for Impairment | 281,632 | 271,787 | ' | ' | ' |
Loans receivable | 299,644 | 291,297 | ' | ' | ' |
Mortgage loans, construction - custom and owner/builder | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Allowance for Loan Losses, Individually Evaluated for Impairment | 0 | 0 | ' | ' | ' |
Allowance for Loan Losses, Collectively Evaluated for Impairment | 332 | 262 | ' | ' | ' |
Allowance for Loan Losses, Total | 332 | 262 | 262 | 294 | 386 |
Recorded Investment in Loans, Individually Evaluated for Impairment | 0 | 0 | ' | ' | ' |
Recorded Investment in Loans, Collectively Evaluated for Impairment | 27,357 | 22,788 | ' | ' | ' |
Loans receivable | 27,357 | 22,788 | ' | ' | ' |
Commercial business loans | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Allowance for Loan Losses, Individually Evaluated for Impairment | 0 | 0 | ' | ' | ' |
Allowance for Loan Losses, Collectively Evaluated for Impairment | 348 | 327 | ' | ' | ' |
Allowance for Loan Losses, Total | 348 | 327 | 327 | 459 | 516 |
Recorded Investment in Loans, Individually Evaluated for Impairment | 5 | 0 | ' | ' | ' |
Recorded Investment in Loans, Collectively Evaluated for Impairment | 17,727 | 17,499 | ' | ' | ' |
Loans receivable | $17,732 | $17,499 | ' | ' | ' |
Loans_Receivable_And_Allowance6
Loans Receivable And Allowance For Loan Losses: Financing Receivable Credit Quality Indicators (Details) (USD $) | Dec. 31, 2013 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | $568,417 | $560,950 |
Pass | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 510,292 | 495,608 |
Watch | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 5,600 | 14,448 |
Special Mention | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 29,367 | 22,916 |
Substandard | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 23,158 | 27,978 |
Mortgage loans, one-to-four family | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 100,869 | 104,298 |
Mortgage loans, one-to-four family | Pass | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 90,870 | 91,291 |
Mortgage loans, one-to-four family | Watch | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 735 | 4,032 |
Mortgage loans, one-to-four family | Special Mention | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 2,015 | 769 |
Mortgage loans, one-to-four family | Substandard | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 7,249 | 8,206 |
Mortgage loans, multi-family | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 48,212 | 51,108 |
Mortgage loans, multi-family | Pass | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 39,365 | 41,863 |
Mortgage loans, multi-family | Watch | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 0 | 132 |
Mortgage loans, multi-family | Special Mention | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 8,073 | 8,337 |
Mortgage loans, multi-family | Substandard | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 774 | 776 |
Mortgage loans, commercial | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 299,644 | 291,297 |
Mortgage loans, commercial | Pass | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 272,616 | 262,502 |
Mortgage loans, commercial | Watch | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 3,072 | 3,309 |
Mortgage loans, commercial | Special Mention | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 16,459 | 12,522 |
Mortgage loans, commercial | Substandard | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 7,497 | 12,964 |
Mortgage loans, construction - custom and owner/builder | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 27,357 | 22,788 |
Mortgage loans, construction - custom and owner/builder | Pass | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 27,357 | 22,788 |
Mortgage loans, construction - custom and owner/builder | Watch | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 0 | 0 |
Mortgage loans, construction - custom and owner/builder | Special Mention | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 0 | 0 |
Mortgage loans, construction - custom and owner/builder | Substandard | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 0 | 0 |
Mortgage loans, construction - speculative one-to-four family | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 1,592 | 923 |
Mortgage loans, construction - speculative one-to-four family | Pass | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 906 | 236 |
Mortgage loans, construction - speculative one-to-four family | Watch | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 686 | 687 |
Mortgage loans, construction - speculative one-to-four family | Special Mention | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 0 | 0 |
Mortgage loans, construction - speculative one-to-four family | Substandard | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 0 | 0 |
Mortgage loans, construction – commercial | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 3,050 | 2,239 |
Mortgage loans, construction – commercial | Pass | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 3,050 | 2,239 |
Mortgage loans, construction – commercial | Watch | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 0 | 0 |
Mortgage loans, construction – commercial | Special Mention | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 0 | 0 |
Mortgage loans, construction – commercial | Substandard | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 0 | 0 |
Mortgage loans, construction - Multi-family | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 143 | 144 |
Mortgage loans, construction - Multi-family | Pass | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 0 | 0 |
Mortgage loans, construction - Multi-family | Watch | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 0 | 0 |
Mortgage loans, construction - Multi-family | Special Mention | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 0 | 0 |
Mortgage loans, construction - Multi-family | Substandard | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 143 | 144 |
Mortgage loans, construction - land development | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 190 | 515 |
Mortgage loans, construction - land development | Pass | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 0 | 0 |
Mortgage loans, construction - land development | Watch | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 0 | 0 |
Mortgage loans, construction - land development | Special Mention | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 0 | 0 |
Mortgage loans, construction - land development | Substandard | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 190 | 515 |
Mortgage loans, land | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 31,464 | 31,144 |
Mortgage loans, land | Pass | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 22,404 | 20,627 |
Mortgage loans, land | Watch | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 160 | 5,101 |
Mortgage loans, land | Special Mention | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 2,516 | 1,129 |
Mortgage loans, land | Substandard | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 6,384 | 4,287 |
Consumer loans, home equity and second mortgage | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 32,201 | 33,014 |
Consumer loans, home equity and second mortgage | Pass | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 30,241 | 31,096 |
Consumer loans, home equity and second mortgage | Watch | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 846 | 782 |
Consumer loans, home equity and second mortgage | Special Mention | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 203 | 55 |
Consumer loans, home equity and second mortgage | Substandard | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 911 | 1,081 |
Consumer loans, other | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 5,963 | 5,981 |
Consumer loans, other | Pass | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 5,919 | 5,937 |
Consumer loans, other | Watch | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 39 | 39 |
Consumer loans, other | Special Mention | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 0 | 0 |
Consumer loans, other | Substandard | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 5 | 5 |
Commercial business loans | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 17,732 | 17,499 |
Commercial business loans | Pass | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 17,564 | 17,029 |
Commercial business loans | Watch | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 62 | 366 |
Commercial business loans | Special Mention | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | 101 | 104 |
Commercial business loans | Substandard | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' |
Loans receivable | $5 | $0 |
Loans_Receivable_And_Allowance7
Loans Receivable And Allowance For Loan Losses: Past Due Status of Loans (Details) (USD $) | Dec. 31, 2013 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Loans receivable, 30-59 Days Past Due | $470 | $199 |
Loans receivable, 60-89 Days Past Due | 3,029 | 3,829 |
Loans receivable, Non-Accrual | 14,141 | 13,610 |
Loans receivable, Past Due 90 Days or More and Still Accruing | 153 | 436 |
Loans receivable, Total Past Due | 17,793 | 18,074 |
Loans receivable, Current | 550,624 | 542,876 |
Loans receivable | 568,417 | 560,950 |
Mortgage loans, one-to-four family | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Loans receivable, 30-59 Days Past Due | 0 | 14 |
Loans receivable, 60-89 Days Past Due | 645 | 1,218 |
Loans receivable, Non-Accrual | 6,184 | 6,985 |
Loans receivable, Past Due 90 Days or More and Still Accruing | 0 | 0 |
Loans receivable, Total Past Due | 6,829 | 8,217 |
Loans receivable, Current | 94,040 | 96,081 |
Loans receivable | 100,869 | 104,298 |
Mortgage loans, multi-family | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Loans receivable, 30-59 Days Past Due | 0 | 0 |
Loans receivable, 60-89 Days Past Due | 0 | 0 |
Loans receivable, Non-Accrual | 0 | 0 |
Loans receivable, Past Due 90 Days or More and Still Accruing | 0 | 0 |
Loans receivable, Total Past Due | 0 | 0 |
Loans receivable, Current | 48,212 | 51,108 |
Loans receivable | 48,212 | 51,108 |
Mortgage loans, commercial | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Loans receivable, 30-59 Days Past Due | 169 | 0 |
Loans receivable, 60-89 Days Past Due | 0 | 2,537 |
Loans receivable, Non-Accrual | 2,017 | 3,435 |
Loans receivable, Past Due 90 Days or More and Still Accruing | 0 | 0 |
Loans receivable, Total Past Due | 2,186 | 5,972 |
Loans receivable, Current | 297,458 | 285,325 |
Loans receivable | 299,644 | 291,297 |
Mortgage loans, construction - custom and owner/builder | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Loans receivable, 30-59 Days Past Due | 0 | 0 |
Loans receivable, 60-89 Days Past Due | 600 | 0 |
Loans receivable, Non-Accrual | 0 | 0 |
Loans receivable, Past Due 90 Days or More and Still Accruing | 0 | 0 |
Loans receivable, Total Past Due | 600 | 0 |
Loans receivable, Current | 26,757 | 22,788 |
Loans receivable | 27,357 | 22,788 |
Mortgage loans, construction - speculative one-to-four family | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Loans receivable, 30-59 Days Past Due | 0 | 0 |
Loans receivable, 60-89 Days Past Due | 686 | 0 |
Loans receivable, Non-Accrual | 0 | 0 |
Loans receivable, Past Due 90 Days or More and Still Accruing | 0 | 0 |
Loans receivable, Total Past Due | 686 | 0 |
Loans receivable, Current | 906 | 923 |
Loans receivable | 1,592 | 923 |
Mortgage loans, construction – commercial | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Loans receivable, 30-59 Days Past Due | 0 | 0 |
Loans receivable, 60-89 Days Past Due | 0 | 0 |
Loans receivable, Non-Accrual | 0 | 0 |
Loans receivable, Past Due 90 Days or More and Still Accruing | 0 | 0 |
Loans receivable, Total Past Due | 0 | 0 |
Loans receivable, Current | 3,050 | 2,239 |
Loans receivable | 3,050 | 2,239 |
Mortgage loans, construction - Multi-family | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Loans receivable, 30-59 Days Past Due | 0 | 0 |
Loans receivable, 60-89 Days Past Due | 0 | 0 |
Loans receivable, Non-Accrual | 143 | 144 |
Loans receivable, Past Due 90 Days or More and Still Accruing | 0 | 0 |
Loans receivable, Total Past Due | 143 | 144 |
Loans receivable, Current | 0 | 0 |
Loans receivable | 143 | 144 |
Mortgage loans, construction - land development | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Loans receivable, 30-59 Days Past Due | 0 | 0 |
Loans receivable, 60-89 Days Past Due | 0 | 0 |
Loans receivable, Non-Accrual | 190 | 515 |
Loans receivable, Past Due 90 Days or More and Still Accruing | 0 | 0 |
Loans receivable, Total Past Due | 190 | 515 |
Loans receivable, Current | 0 | 0 |
Loans receivable | 190 | 515 |
Mortgage loans, land | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Loans receivable, 30-59 Days Past Due | 166 | 0 |
Loans receivable, 60-89 Days Past Due | 849 | 0 |
Loans receivable, Non-Accrual | 5,371 | 2,146 |
Loans receivable, Past Due 90 Days or More and Still Accruing | 0 | 284 |
Loans receivable, Total Past Due | 6,386 | 2,430 |
Loans receivable, Current | 25,078 | 28,714 |
Loans receivable | 31,464 | 31,144 |
Consumer loans, home equity and second mortgage | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Loans receivable, 30-59 Days Past Due | 0 | 101 |
Loans receivable, 60-89 Days Past Due | 23 | 20 |
Loans receivable, Non-Accrual | 226 | 380 |
Loans receivable, Past Due 90 Days or More and Still Accruing | 153 | 152 |
Loans receivable, Total Past Due | 402 | 653 |
Loans receivable, Current | 31,799 | 32,361 |
Loans receivable | 32,201 | 33,014 |
Consumer loans, other | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Loans receivable, 30-59 Days Past Due | 52 | 1 |
Loans receivable, 60-89 Days Past Due | 54 | 39 |
Loans receivable, Non-Accrual | 5 | 5 |
Loans receivable, Past Due 90 Days or More and Still Accruing | 0 | 0 |
Loans receivable, Total Past Due | 111 | 45 |
Loans receivable, Current | 5,852 | 5,936 |
Loans receivable | 5,963 | 5,981 |
Commercial business loans | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' |
Loans receivable, 30-59 Days Past Due | 83 | 83 |
Loans receivable, 60-89 Days Past Due | 172 | 15 |
Loans receivable, Non-Accrual | 5 | 0 |
Loans receivable, Past Due 90 Days or More and Still Accruing | 0 | 0 |
Loans receivable, Total Past Due | 260 | 98 |
Loans receivable, Current | 17,472 | 17,401 |
Loans receivable | $17,732 | $17,499 |
Loans_Receivable_And_Allowance8
Loans Receivable And Allowance For Loan Losses: Impaired Financing Receivables (Details) (USD $) | 3 Months Ended | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | |
Recorded Investment | ' | ' | |
With no related allowance recorded | $12,053 | $12,453 | |
With an allowance recorded | 26,234 | 25,646 | |
Total | 38,287 | 38,099 | |
Unpaid Principal Balance (Loan Balance Plus Charge Off) | ' | ' | |
With no related allowance recorded | 20,047 | 21,377 | |
With an allowance recorded | 26,245 | 26,419 | |
Total | 46,292 | 47,796 | |
Related Allowance | 2,593 | 3,076 | |
YTD Average Recorded Investment | ' | ' | |
With no related allowance recorded | 15,741 | 16,697 | [1] |
With an allowance recorded | 22,928 | 22,478 | [1] |
Total | 38,669 | 39,175 | [1] |
YTD Interest Income Recognized | ' | ' | |
With no related allowance recorded | 68 | 352 | [1] |
With an allowance recorded | 224 | 990 | [1] |
Total | 292 | 1,342 | [1] |
YTD Cash Basis Interest Income Recognized | ' | ' | |
With no related allowance recorded | 90 | 291 | [1] |
With an allowance recorded | 282 | 773 | [1] |
Total | 372 | 1,064 | [1] |
Mortgage loans, one-to-four family | ' | ' | |
Recorded Investment | ' | ' | |
With no related allowance recorded | 5,328 | 5,342 | |
With an allowance recorded | 2,845 | 3,642 | |
Total | 8,173 | 8,984 | |
Unpaid Principal Balance (Loan Balance Plus Charge Off) | ' | ' | |
With no related allowance recorded | 5,983 | 5,775 | |
With an allowance recorded | 2,845 | 3,726 | |
Total | 8,828 | 9,501 | |
Related Allowance | 440 | 600 | |
YTD Average Recorded Investment | ' | ' | |
With no related allowance recorded | 3,424 | 2,661 | [1] |
With an allowance recorded | 4,211 | 4,397 | [1] |
Total | 7,635 | 7,058 | [1] |
YTD Interest Income Recognized | ' | ' | |
With no related allowance recorded | 0 | 18 | [1] |
With an allowance recorded | 21 | 91 | [1] |
Total | 21 | 109 | [1] |
YTD Cash Basis Interest Income Recognized | ' | ' | |
With no related allowance recorded | 0 | 13 | [1] |
With an allowance recorded | 28 | 68 | [1] |
Total | 28 | 81 | [1] |
Mortgage loans, multi-family | ' | ' | |
Recorded Investment | ' | ' | |
With no related allowance recorded | 0 | 0 | |
With an allowance recorded | 4,934 | 5,184 | |
Total | 4,934 | 5,184 | |
Unpaid Principal Balance (Loan Balance Plus Charge Off) | ' | ' | |
With no related allowance recorded | 982 | 982 | |
With an allowance recorded | 4,934 | 5,184 | |
Total | 5,916 | 6,166 | |
Related Allowance | 131 | 334 | |
YTD Average Recorded Investment | ' | ' | |
With no related allowance recorded | 473 | 473 | [1] |
With an allowance recorded | 5,571 | 5,960 | [1] |
Total | 6,044 | 6,433 | [1] |
YTD Interest Income Recognized | ' | ' | |
With no related allowance recorded | 0 | 3 | [1] |
With an allowance recorded | 52 | 301 | [1] |
Total | 52 | 304 | [1] |
YTD Cash Basis Interest Income Recognized | ' | ' | |
With no related allowance recorded | 0 | 3 | [1] |
With an allowance recorded | 69 | 230 | [1] |
Total | 69 | 233 | [1] |
Mortgage loans, commercial | ' | ' | |
Recorded Investment | ' | ' | |
With no related allowance recorded | 5,208 | 4,879 | |
With an allowance recorded | 12,804 | 14,631 | |
Total | 18,012 | 19,510 | |
Unpaid Principal Balance (Loan Balance Plus Charge Off) | ' | ' | |
With no related allowance recorded | 8,335 | 8,005 | |
With an allowance recorded | 12,804 | 15,297 | |
Total | 21,139 | 23,302 | |
Related Allowance | 1,515 | 1,763 | |
YTD Average Recorded Investment | ' | ' | |
With no related allowance recorded | 8,303 | 8,781 | [1] |
With an allowance recorded | 9,693 | 9,052 | [1] |
Total | 17,996 | 17,833 | [1] |
YTD Interest Income Recognized | ' | ' | |
With no related allowance recorded | 66 | 322 | [1] |
With an allowance recorded | 135 | 526 | [1] |
Total | 201 | 848 | [1] |
YTD Cash Basis Interest Income Recognized | ' | ' | |
With no related allowance recorded | 87 | 267 | [1] |
With an allowance recorded | 164 | 420 | [1] |
Total | 251 | 687 | [1] |
Mortgage loans, construction - custom and owner/builder | ' | ' | |
Recorded Investment | ' | ' | |
With no related allowance recorded | 0 | 0 | |
With an allowance recorded | 0 | 0 | |
Total | 0 | 0 | |
Unpaid Principal Balance (Loan Balance Plus Charge Off) | ' | ' | |
With no related allowance recorded | 0 | 0 | |
With an allowance recorded | 0 | 0 | |
Total | 0 | 0 | |
Related Allowance | 0 | 0 | |
YTD Average Recorded Investment | ' | ' | |
With no related allowance recorded | 55 | 97 | [1] |
With an allowance recorded | 40 | 60 | [1] |
Total | 95 | 157 | [1] |
YTD Interest Income Recognized | ' | ' | |
With no related allowance recorded | 0 | 0 | [1] |
With an allowance recorded | 0 | 0 | [1] |
Total | 0 | 0 | [1] |
YTD Cash Basis Interest Income Recognized | ' | ' | |
With no related allowance recorded | 0 | 0 | [1] |
With an allowance recorded | 0 | 0 | [1] |
Total | 0 | 0 | [1] |
Mortgage loans, construction - speculative one-to-four family | ' | ' | |
Recorded Investment | ' | ' | |
With no related allowance recorded | 0 | 0 | |
With an allowance recorded | 686 | 687 | |
Total | 686 | 687 | |
Unpaid Principal Balance (Loan Balance Plus Charge Off) | ' | ' | |
With no related allowance recorded | 0 | 0 | |
With an allowance recorded | 686 | 687 | |
Total | 686 | 687 | |
Related Allowance | 84 | 88 | |
YTD Average Recorded Investment | ' | ' | |
With no related allowance recorded | 0 | 65 | [1] |
With an allowance recorded | 692 | 695 | [1] |
Total | 692 | 760 | [1] |
YTD Interest Income Recognized | ' | ' | |
With no related allowance recorded | 0 | 0 | [1] |
With an allowance recorded | 7 | 29 | [1] |
Total | 7 | 29 | [1] |
YTD Cash Basis Interest Income Recognized | ' | ' | |
With no related allowance recorded | 0 | 0 | [1] |
With an allowance recorded | 11 | 16 | [1] |
Total | 11 | 16 | [1] |
Mortgage loans, construction - Multi-family | ' | ' | |
Recorded Investment | ' | ' | |
With no related allowance recorded | 143 | 143 | |
With an allowance recorded | 0 | 0 | |
Total | 143 | 143 | |
Unpaid Principal Balance (Loan Balance Plus Charge Off) | ' | ' | |
With no related allowance recorded | 608 | 608 | |
With an allowance recorded | 0 | 0 | |
Total | 608 | 608 | |
Related Allowance | 0 | 0 | |
YTD Average Recorded Investment | ' | ' | |
With no related allowance recorded | 253 | 293 | [1] |
With an allowance recorded | 0 | 0 | [1] |
Total | 253 | 293 | [1] |
YTD Interest Income Recognized | ' | ' | |
With no related allowance recorded | 0 | 0 | [1] |
With an allowance recorded | 0 | 0 | [1] |
Total | 0 | 0 | [1] |
YTD Cash Basis Interest Income Recognized | ' | ' | |
With no related allowance recorded | 0 | 0 | [1] |
With an allowance recorded | 0 | 0 | [1] |
Total | 0 | 0 | [1] |
Mortgage loans, construction - land development | ' | ' | |
Recorded Investment | ' | ' | |
With no related allowance recorded | 190 | 515 | |
With an allowance recorded | 0 | ' | |
Total | 190 | 515 | |
Unpaid Principal Balance (Loan Balance Plus Charge Off) | ' | ' | |
With no related allowance recorded | 2,060 | 3,279 | |
With an allowance recorded | 0 | ' | |
Total | 2,060 | 3,279 | |
Related Allowance | 0 | 0 | |
YTD Average Recorded Investment | ' | ' | |
With no related allowance recorded | 454 | 534 | [1] |
With an allowance recorded | 0 | ' | |
YTD Interest Income Recognized | ' | ' | |
With no related allowance recorded | 0 | 0 | [1] |
With an allowance recorded | 0 | ' | |
Total | 0 | 0 | [1] |
YTD Cash Basis Interest Income Recognized | ' | ' | |
With no related allowance recorded | 0 | 0 | [1] |
With an allowance recorded | 0 | ' | |
Total | 0 | 0 | [1] |
Mortgage loans, land | ' | ' | |
Recorded Investment | ' | ' | |
With no related allowance recorded | 948 | 1,188 | |
With an allowance recorded | 4,666 | 1,203 | |
Total | 5,614 | 2,391 | |
Unpaid Principal Balance (Loan Balance Plus Charge Off) | ' | ' | |
With no related allowance recorded | 1,600 | 2,133 | |
With an allowance recorded | 4,677 | 1,226 | |
Total | 6,277 | 3,359 | |
Related Allowance | 368 | 234 | |
YTD Average Recorded Investment | ' | ' | |
With no related allowance recorded | 2,511 | 3,519 | [1] |
With an allowance recorded | 2,370 | 1,962 | [1] |
Total | 4,881 | 5,481 | [1] |
YTD Interest Income Recognized | ' | ' | |
With no related allowance recorded | 2 | 9 | [1] |
With an allowance recorded | 6 | 27 | [1] |
Total | 8 | 36 | [1] |
YTD Cash Basis Interest Income Recognized | ' | ' | |
With no related allowance recorded | 3 | 8 | [1] |
With an allowance recorded | 6 | 27 | [1] |
Total | 9 | 35 | [1] |
Consumer loans, home equity and second mortgage | ' | ' | |
Recorded Investment | ' | ' | |
With no related allowance recorded | 226 | 380 | |
With an allowance recorded | 299 | 299 | |
Total | 525 | 679 | |
Unpaid Principal Balance (Loan Balance Plus Charge Off) | ' | ' | |
With no related allowance recorded | 430 | 556 | |
With an allowance recorded | 299 | 299 | |
Total | 729 | 855 | |
Related Allowance | 55 | 57 | |
YTD Average Recorded Investment | ' | ' | |
With no related allowance recorded | 259 | 266 | [1] |
With an allowance recorded | 351 | 352 | [1] |
Total | 610 | 618 | [1] |
YTD Interest Income Recognized | ' | ' | |
With no related allowance recorded | 0 | 0 | [1] |
With an allowance recorded | 3 | 16 | [1] |
Total | 3 | 16 | [1] |
YTD Cash Basis Interest Income Recognized | ' | ' | |
With no related allowance recorded | 0 | 0 | [1] |
With an allowance recorded | 4 | 12 | [1] |
Total | 4 | 12 | [1] |
Consumer loans, other | ' | ' | |
Recorded Investment | ' | ' | |
With no related allowance recorded | 5 | 6 | |
With an allowance recorded | 0 | 0 | |
Total | 5 | 6 | |
Unpaid Principal Balance (Loan Balance Plus Charge Off) | ' | ' | |
With no related allowance recorded | 5 | 6 | |
With an allowance recorded | 0 | 0 | |
Total | 5 | 6 | |
Related Allowance | 0 | 0 | |
YTD Average Recorded Investment | ' | ' | |
With no related allowance recorded | 8 | 8 | [1] |
With an allowance recorded | 0 | 0 | [1] |
Total | 8 | 8 | [1] |
YTD Interest Income Recognized | ' | ' | |
With no related allowance recorded | 0 | 0 | [1] |
With an allowance recorded | 0 | 0 | [1] |
Total | 0 | 0 | [1] |
YTD Cash Basis Interest Income Recognized | ' | ' | |
With no related allowance recorded | 0 | 0 | [1] |
With an allowance recorded | 0 | 0 | [1] |
Total | 0 | 0 | [1] |
Commercial business loans | ' | ' | |
Recorded Investment | ' | ' | |
With no related allowance recorded | 5 | 0 | |
With an allowance recorded | 0 | ' | |
Total | 5 | 0 | |
Unpaid Principal Balance (Loan Balance Plus Charge Off) | ' | ' | |
With no related allowance recorded | 44 | 33 | |
With an allowance recorded | 0 | ' | |
Total | 44 | 33 | |
Related Allowance | 0 | 0 | |
YTD Average Recorded Investment | ' | ' | |
With no related allowance recorded | 1 | 0 | [1] |
With an allowance recorded | 0 | ' | |
Total | 1 | 0 | [1] |
YTD Interest Income Recognized | ' | ' | |
With no related allowance recorded | 0 | 0 | [1] |
With an allowance recorded | 0 | ' | |
Total | 0 | 0 | [1] |
YTD Cash Basis Interest Income Recognized | ' | ' | |
With no related allowance recorded | 0 | 0 | [1] |
With an allowance recorded | 0 | ' | |
Total | $0 | $0 | [1] |
[1] | For the year ended September 30, 201 |
Loans_Receivable_And_Allowance9
Loans Receivable And Allowance For Loan Losses: Troubled Debt Restructurings on Financing Receivables (Details) (USD $) | Dec. 31, 2013 | Sep. 30, 2013 | ||
Financing Receivable, Modifications [Line Items] | ' | ' | ||
Loans accounted for on a non-accrual basis | $14,141,000 | $13,610,000 | ||
Accruing loans which are contractually past due 90 days or more | 153,000 | 436,000 | ||
Total of non-accrual and 90 days past due loans | 14,294,000 | 14,046,000 | ||
Non-accrual investment securities | 2,092,000 | 2,187,000 | ||
OREO and other repossessed assets, net | 12,483,000 | 11,720,000 | ||
Total non-performing assets | 28,869,000 | [1] | 27,953,000 | [1] |
Troubled debt restructured loans on accrual status | 21,436,000 | 22,604,000 | ||
Non-accrual and 90 days or more past due loans as a percentage of loans receivable | 2.52% | 2.51% | ||
Non-accrual and 90 days or more past due loans as a percentage of total assets | 1.96% | 1.88% | ||
Non-performing assets as a percentage of total assets | 3.97% | 3.75% | ||
Loans receivable | 566,649,000 | [2] | 559,240,000 | [2] |
Total assets | 727,933,000 | 745,648,000 | ||
Loans and Leases Receivable, Impaired, Commitment to Lend | 1,000 | 1,000 | ||
Accruing | ' | ' | ||
Financing Receivable, Modifications [Line Items] | ' | ' | ||
Troubled debt restructured loans on accrual status | 18,260,000 | [3] | 18,573,000 | [3] |
Non-Accrual | ' | ' | ||
Financing Receivable, Modifications [Line Items] | ' | ' | ||
Troubled debt restructured loans on accrual status | 3,176,000 | 4,031,000 | ||
Mortgage loans, one-to-four family | ' | ' | ||
Financing Receivable, Modifications [Line Items] | ' | ' | ||
Loans accounted for on a non-accrual basis | 6,184,000 | 6,985,000 | ||
Troubled debt restructured loans on accrual status | 2,184,000 | 2,197,000 | ||
Mortgage loans, one-to-four family | Accruing | ' | ' | ||
Financing Receivable, Modifications [Line Items] | ' | ' | ||
Troubled debt restructured loans on accrual status | 1,989,000 | 1,999,000 | ||
Mortgage loans, one-to-four family | Non-Accrual | ' | ' | ||
Financing Receivable, Modifications [Line Items] | ' | ' | ||
Troubled debt restructured loans on accrual status | 195,000 | 198,000 | ||
Mortgage loans, multi-family | ' | ' | ||
Financing Receivable, Modifications [Line Items] | ' | ' | ||
Loans accounted for on a non-accrual basis | 0 | 0 | ||
Troubled debt restructured loans on accrual status | 4,934,000 | 5,184,000 | ||
Mortgage loans, multi-family | Accruing | ' | ' | ||
Financing Receivable, Modifications [Line Items] | ' | ' | ||
Troubled debt restructured loans on accrual status | 4,934,000 | 5,184,000 | ||
Mortgage loans, multi-family | Non-Accrual | ' | ' | ||
Financing Receivable, Modifications [Line Items] | ' | ' | ||
Troubled debt restructured loans on accrual status | 0 | 0 | ||
Mortgage loans, commercial | ' | ' | ||
Financing Receivable, Modifications [Line Items] | ' | ' | ||
Loans accounted for on a non-accrual basis | 2,017,000 | 3,435,000 | ||
Troubled debt restructured loans on accrual status | 11,656,000 | 11,734,000 | ||
Mortgage loans, commercial | Accruing | ' | ' | ||
Financing Receivable, Modifications [Line Items] | ' | ' | ||
Troubled debt restructured loans on accrual status | 10,109,000 | 10,160,000 | ||
Mortgage loans, commercial | Non-Accrual | ' | ' | ||
Financing Receivable, Modifications [Line Items] | ' | ' | ||
Troubled debt restructured loans on accrual status | 1,547,000 | 1,574,000 | ||
Mortgage loans, construction - custom and owner/builder | ' | ' | ||
Financing Receivable, Modifications [Line Items] | ' | ' | ||
Loans accounted for on a non-accrual basis | 0 | 0 | ||
Mortgage loans, construction - speculative one-to-four family | ' | ' | ||
Financing Receivable, Modifications [Line Items] | ' | ' | ||
Loans accounted for on a non-accrual basis | 0 | 0 | ||
Troubled debt restructured loans on accrual status | 686,000 | 687,000 | ||
Mortgage loans, construction - speculative one-to-four family | Accruing | ' | ' | ||
Financing Receivable, Modifications [Line Items] | ' | ' | ||
Troubled debt restructured loans on accrual status | 686,000 | 687,000 | ||
Mortgage loans, construction - speculative one-to-four family | Non-Accrual | ' | ' | ||
Financing Receivable, Modifications [Line Items] | ' | ' | ||
Troubled debt restructured loans on accrual status | 0 | 0 | ||
Mortgage loans, construction - Multi-family | ' | ' | ||
Financing Receivable, Modifications [Line Items] | ' | ' | ||
Loans accounted for on a non-accrual basis | 143,000 | 144,000 | ||
Mortgage loans, construction - land development | ' | ' | ||
Financing Receivable, Modifications [Line Items] | ' | ' | ||
Loans accounted for on a non-accrual basis | 190,000 | 515,000 | ||
Troubled debt restructured loans on accrual status | 190,000 | 515,000 | ||
Mortgage loans, construction - land development | Accruing | ' | ' | ||
Financing Receivable, Modifications [Line Items] | ' | ' | ||
Troubled debt restructured loans on accrual status | 0 | 0 | ||
Mortgage loans, construction - land development | Non-Accrual | ' | ' | ||
Financing Receivable, Modifications [Line Items] | ' | ' | ||
Troubled debt restructured loans on accrual status | 190,000 | 515,000 | ||
Mortgage loans, land | ' | ' | ||
Financing Receivable, Modifications [Line Items] | ' | ' | ||
Loans accounted for on a non-accrual basis | 5,371,000 | 2,146,000 | ||
Troubled debt restructured loans on accrual status | 1,335,000 | 1,808,000 | ||
Mortgage loans, land | Accruing | ' | ' | ||
Financing Receivable, Modifications [Line Items] | ' | ' | ||
Troubled debt restructured loans on accrual status | 243,000 | 244,000 | ||
Mortgage loans, land | Non-Accrual | ' | ' | ||
Financing Receivable, Modifications [Line Items] | ' | ' | ||
Troubled debt restructured loans on accrual status | 1,092,000 | 1,564,000 | ||
Consumer loans, home equity and second mortgage | ' | ' | ||
Financing Receivable, Modifications [Line Items] | ' | ' | ||
Loans accounted for on a non-accrual basis | 226,000 | 380,000 | ||
Troubled debt restructured loans on accrual status | 451,000 | 479,000 | ||
Consumer loans, home equity and second mortgage | Accruing | ' | ' | ||
Financing Receivable, Modifications [Line Items] | ' | ' | ||
Troubled debt restructured loans on accrual status | 299,000 | 299,000 | ||
Consumer loans, home equity and second mortgage | Non-Accrual | ' | ' | ||
Financing Receivable, Modifications [Line Items] | ' | ' | ||
Troubled debt restructured loans on accrual status | 152,000 | 180,000 | ||
Consumer loans, other | ' | ' | ||
Financing Receivable, Modifications [Line Items] | ' | ' | ||
Loans accounted for on a non-accrual basis | $5,000 | $5,000 | ||
[1] | {F|ahBzfndlYmZpbGluZ3MtaHJkcmoLEgZYTUxEb2MiXlhCUkxEb2NHZW5JbmZvOmU5MzQwNTZjNGFkYjRmOGNiY2U3MjkyMDFjYzczNzhlfFRleHRTZWxlY3Rpb246NDdEMTFCREU1Q0JENUE0M0FDQzZBQTQ5NjYwRjU4MDMM} | |||
[2] | Includes loans held for sale and before the allowance for loan losses. | |||
[3] | {F|ahBzfndlYmZpbGluZ3MtaHJkcmoLEgZYTUxEb2MiXlhCUkxEb2NHZW5JbmZvOmU5MzQwNTZjNGFkYjRmOGNiY2U3MjkyMDFjYzczNzhlfFRleHRTZWxlY3Rpb246NDMxNUYyOUY5MkY1NUEyOThBMDQzNTgzRkE5RjkxRTYM} |
Recovered_Sheet2
Loans Receivable And Allowance For Loan Losses: Schedule 1 of Troubled debt restructured loans (Details) (USD $) | Dec. 31, 2013 | Sep. 30, 2013 | ||
In Thousands, unless otherwise specified | ||||
Financing Receivable, Modifications [Line Items] | ' | ' | ||
Troubled debt restructured loan | $21,436 | $22,604 | ||
Accruing | ' | ' | ||
Financing Receivable, Modifications [Line Items] | ' | ' | ||
Troubled debt restructured loan | 18,260 | [1] | 18,573 | [1] |
Non-Accrual | ' | ' | ||
Financing Receivable, Modifications [Line Items] | ' | ' | ||
Troubled debt restructured loan | 3,176 | 4,031 | ||
Mortgage loans, one-to-four family | ' | ' | ||
Financing Receivable, Modifications [Line Items] | ' | ' | ||
Troubled debt restructured loan | 2,184 | 2,197 | ||
Mortgage loans, one-to-four family | Accruing | ' | ' | ||
Financing Receivable, Modifications [Line Items] | ' | ' | ||
Troubled debt restructured loan | 1,989 | 1,999 | ||
Mortgage loans, one-to-four family | Non-Accrual | ' | ' | ||
Financing Receivable, Modifications [Line Items] | ' | ' | ||
Troubled debt restructured loan | 195 | 198 | ||
Mortgage loans, multi-family | ' | ' | ||
Financing Receivable, Modifications [Line Items] | ' | ' | ||
Troubled debt restructured loan | 4,934 | 5,184 | ||
Mortgage loans, multi-family | Accruing | ' | ' | ||
Financing Receivable, Modifications [Line Items] | ' | ' | ||
Troubled debt restructured loan | 4,934 | 5,184 | ||
Mortgage loans, multi-family | Non-Accrual | ' | ' | ||
Financing Receivable, Modifications [Line Items] | ' | ' | ||
Troubled debt restructured loan | 0 | 0 | ||
Mortgage loans, commercial | ' | ' | ||
Financing Receivable, Modifications [Line Items] | ' | ' | ||
Troubled debt restructured loan | 11,656 | 11,734 | ||
Mortgage loans, commercial | Accruing | ' | ' | ||
Financing Receivable, Modifications [Line Items] | ' | ' | ||
Troubled debt restructured loan | 10,109 | 10,160 | ||
Mortgage loans, commercial | Non-Accrual | ' | ' | ||
Financing Receivable, Modifications [Line Items] | ' | ' | ||
Troubled debt restructured loan | 1,547 | 1,574 | ||
Mortgage loans, construction - speculative one-to-four family | ' | ' | ||
Financing Receivable, Modifications [Line Items] | ' | ' | ||
Troubled debt restructured loan | 686 | 687 | ||
Mortgage loans, construction - speculative one-to-four family | Accruing | ' | ' | ||
Financing Receivable, Modifications [Line Items] | ' | ' | ||
Troubled debt restructured loan | 686 | 687 | ||
Mortgage loans, construction - speculative one-to-four family | Non-Accrual | ' | ' | ||
Financing Receivable, Modifications [Line Items] | ' | ' | ||
Troubled debt restructured loan | 0 | 0 | ||
Mortgage loans, construction - land development | ' | ' | ||
Financing Receivable, Modifications [Line Items] | ' | ' | ||
Troubled debt restructured loan | 190 | 515 | ||
Mortgage loans, construction - land development | Accruing | ' | ' | ||
Financing Receivable, Modifications [Line Items] | ' | ' | ||
Troubled debt restructured loan | 0 | 0 | ||
Mortgage loans, construction - land development | Non-Accrual | ' | ' | ||
Financing Receivable, Modifications [Line Items] | ' | ' | ||
Troubled debt restructured loan | 190 | 515 | ||
Mortgage loans, land | ' | ' | ||
Financing Receivable, Modifications [Line Items] | ' | ' | ||
Troubled debt restructured loan | 1,335 | 1,808 | ||
Mortgage loans, land | Accruing | ' | ' | ||
Financing Receivable, Modifications [Line Items] | ' | ' | ||
Troubled debt restructured loan | 243 | 244 | ||
Mortgage loans, land | Non-Accrual | ' | ' | ||
Financing Receivable, Modifications [Line Items] | ' | ' | ||
Troubled debt restructured loan | 1,092 | 1,564 | ||
Consumer loans, home equity and second mortgage | ' | ' | ||
Financing Receivable, Modifications [Line Items] | ' | ' | ||
Troubled debt restructured loan | 451 | 479 | ||
Consumer loans, home equity and second mortgage | Accruing | ' | ' | ||
Financing Receivable, Modifications [Line Items] | ' | ' | ||
Troubled debt restructured loan | 299 | 299 | ||
Consumer loans, home equity and second mortgage | Non-Accrual | ' | ' | ||
Financing Receivable, Modifications [Line Items] | ' | ' | ||
Troubled debt restructured loan | $152 | $180 | ||
[1] | {F|ahBzfndlYmZpbGluZ3MtaHJkcmoLEgZYTUxEb2MiXlhCUkxEb2NHZW5JbmZvOmU5MzQwNTZjNGFkYjRmOGNiY2U3MjkyMDFjYzczNzhlfFRleHRTZWxlY3Rpb246NDMxNUYyOUY5MkY1NUEyOThBMDQzNTgzRkE5RjkxRTYM} |
Recovered_Sheet3
Loans Receivable And Allowance For Loan Losses: Schedule of Troubled Debt Restructurings by Portfolio Segment (Details) (USD $) | Dec. 31, 2013 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Modifications [Line Items] | ' | ' |
Troubled debt restructurings, End of Period Balance | $21,436 | $22,604 |
Net_Income_Per_Common_Share_De
Net Income Per Common Share (Details) | Dec. 31, 2013 | Jun. 30, 2012 |
Earnings Per Share [Abstract] | ' | ' |
Employee Stock Ownership Plan (ESOP), Number of Suspense Shares | 191,916 | 229,234 |
Net_Income_Per_Common_Share_Sc
Net Income Per Common Share: Schedule of Earnings per Share (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | |
Earnings Per Share, Basic [Abstract] | ' | ' | ' | |
Numerator – net income | $1,611 | $1,708 | $4,757 | |
Preferred stock dividends | -136 | -201 | ' | |
Preferred stock discount accretion | -70 | -63 | ' | |
Net income to common shareholders | $1,405 | $1,444 | ' | |
Denominator – weighted average common shares outstanding | 6,853,683 | 6,815,782 | ' | |
Basic net income per common share (in dollars per share) | $0.20 | $0.21 | ' | |
Earnings Per Share, Diluted [Abstract] | ' | ' | ' | |
Effect of dilutive stock options | 29,596 | 5,224 | [1] | ' |
Effect of dilutive stock warrant | 95,106 | 0 | [2] | ' |
Weighted average common shares and common stock equivalents | 6,978,385 | 6,821,006 | ' | |
Diluted net income per common share (in dollars per share) | $0.20 | $0.21 | ' | |
Stock Options | ' | ' | ' | |
Earnings Per Share, Diluted [Abstract] | ' | ' | ' | |
Antidilutive securities excluded from computation of earnings per share | 125,198 | 212,152 | ' | |
Warrant | ' | ' | ' | |
Earnings Per Share, Diluted [Abstract] | ' | ' | ' | |
Antidilutive securities excluded from computation of earnings per share | 370,899 | 370,899 | ' | |
[1] | For the three months ended December 31, 2013 and 2012, average options to purchase 125,198 and 212,152 shares of common stock, respectively, were outstanding but not included in the computation of diluted net income per common share because their effect would have been anti-dilutive. | |||
[2] | For the three months ended December 31, 2012, a warrant to purchase 370,899 shares of common stock was outstanding but not included in the computation of diluted net income per common share because the warrant's exercise price was greater than the average market price of the common stock, and, therefore, its effect would have been anti-dilutive. |
Stock_Plans_And_Stock_Based_Co2
Stock Plans And Stock Based Compensation (Details) (USD $) | 3 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Jun. 30, 2012 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Stock options, outstanding, aggregate intrinsic value | $569 | ' | ' |
Number of unvested stock options | 182,400 | ' | 99,500 |
Unvested stock options, aggregate grant date fair value | 429 | ' | 208 |
Unvested stock options, aggregate intrinsic value | 279 | ' | ' |
Stock options vested during period | 14,600 | 8,800 | ' |
Stock options vested during period, aggregate grant date fair value | 26 | 13 | ' |
Stock options granted during period | 106,000 | 29,000 | ' |
Stock options, aggregate grant date fair value | 267 | 69 | ' |
Stock Options | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Description of stock option plan | 'Under the Company’s stock option plans (the 1999 Stock Option Plan and the 2003 Stock Option Plan), the Company was able to grant options for up to a combined total of 1,622,500 shares of common stock to employees, officers and directors.  Shares issued may be purchased in the open market or may be issued from authorized and unissued shares.  The exercise price of each option equals the fair market value of the Company’s common stock on the date of grant. | ' | ' |
Number of shares authorized | 1,622,500 | ' | ' |
Award vesting percentage | 20.00% | ' | ' |
Award vesting period | '5 years | ' | ' |
Number of shares available for grant (shares) | 51,338 | ' | ' |
Stock options, fair value assumptions method | 'The Company uses the Black-Scholes option pricing model to estimate the fair value of stock-based awards | ' | ' |
Stock Grants | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Description of stock option plan | 'The Company adopted the Management Recognition and Development Plan (“MRDPâ€) in 1998 for the benefit of employees, officers and directors of the Company.  The objective of the MRDP is to retain and attract personnel of experience and ability in key positions by providing them with a proprietary interest in the Company. | ' | ' |
Number of shares authorized | 529,000 | ' | ' |
Award vesting percentage | 20.00% | ' | ' |
Award vesting period | '5 years | ' | ' |
Number of shares available for grant (shares) | ' | ' | 0 |
Stock options vested during period, aggregate grant date fair value | 23 | 57 | ' |
Number of unvested stock awards (shares) | 0 | ' | 3,848 |
Unvested stock awards, aggregate grant date fair value | ' | ' | $28 |
Stock awards, vested during period | 3,254 | 5,613 | ' |
Terms of stock awards | 'Awards under the MRDP were made in the form of shares of common stock that are subject to restrictions on the transfer of ownership | ' | ' |
Officers or Directors | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Number of shares available for grant (shares) | 0 | ' | ' |
Stock awards, granted during period | 0 | 0 | ' |
Stock_Plans_And_Stock_Based_Co3
Stock Plans And Stock Based Compensation: Disclosure of Share-based Compensation Arrangements by Share-based Payment Award (Details) (USD $) | 3 Months Ended | |||
Dec. 31, 2013 | Dec. 31, 2012 | Jun. 30, 2012 | Sep. 30, 2011 | |
Shares: | ' | ' | ' | ' |
Options outstanding, beginning of period | 162,946 | ' | 224,626 | 195,626 |
Granted | 106,000 | 29,000 | ' | ' |
Options outstanding, end of period | 266,346 | ' | 224,626 | 195,626 |
Options exercisable, end of period | 83,946 | ' | 125,126 | ' |
Weighted Average Exercise Price (in dollars per share): | ' | ' | ' | ' |
Options outstanding, beginning of period | $6.96 | ' | $7.71 | $7.97 |
Granted | $9 | $6 | ' | ' |
Options outstanding, end of period | $7.10 | ' | $7.71 | $7.97 |
Options exercisable, end of period | $8.09 | ' | $9.54 | ' |
Stock_Plans_And_Stock_Based_Co4
Stock Plans And Stock Based Compensation: Schedule of Fair Value Assumptions (Details) (Stock Options, USD $) | 3 Months Ended |
Dec. 31, 2013 | |
Stock Options | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Expected volatility | 39.00% |
Expected term (in years) | '5 years |
Expected dividend yield | 2.56% |
Risk free interest rate | 1.35% |
Grant date fair value per share (in dollars per share): | $2.52 |
Stock_Plans_And_Stock_Based_Co5
Stock Plans And Stock Based Compensation: Schedule of Expenses for Stock Compensation Plans (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Stock Options | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Compensation expense recognized in income | $22 | $11 |
Stock Grants | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Compensation expense recognized in income | $2 | $13 |
Stock_Plans_And_Stock_Based_Co6
Stock Plans And Stock Based Compensation: Schedule of Unrecognized Compensation Expense for stock-based awards (Details) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Compensation expense yet to be recognized for stock-based awards that have been awarded but not vested | $420 |
Remainder of 2013 | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Compensation expense yet to be recognized for stock-based awards that have been awarded but not vested | 78 |
2014 | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Compensation expense yet to be recognized for stock-based awards that have been awarded but not vested | 98 |
2015 | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Compensation expense yet to be recognized for stock-based awards that have been awarded but not vested | 97 |
2016 | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Compensation expense yet to be recognized for stock-based awards that have been awarded but not vested | 88 |
2017 | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Compensation expense yet to be recognized for stock-based awards that have been awarded but not vested | 55 |
2018 | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Compensation expense yet to be recognized for stock-based awards that have been awarded but not vested | 4 |
Stock Options | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Compensation expense yet to be recognized for stock-based awards that have been awarded but not vested | 420 |
Stock Options | Remainder of 2013 | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Compensation expense yet to be recognized for stock-based awards that have been awarded but not vested | 78 |
Stock Options | 2014 | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Compensation expense yet to be recognized for stock-based awards that have been awarded but not vested | 98 |
Stock Options | 2015 | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Compensation expense yet to be recognized for stock-based awards that have been awarded but not vested | 97 |
Stock Options | 2016 | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Compensation expense yet to be recognized for stock-based awards that have been awarded but not vested | 88 |
Stock Options | 2017 | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Compensation expense yet to be recognized for stock-based awards that have been awarded but not vested | 55 |
Stock Options | 2018 | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Compensation expense yet to be recognized for stock-based awards that have been awarded but not vested | 4 |
Stock Grants | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Compensation expense yet to be recognized for stock-based awards that have been awarded but not vested | 0 |
Stock Grants | Remainder of 2013 | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Compensation expense yet to be recognized for stock-based awards that have been awarded but not vested | 0 |
Stock Grants | 2014 | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Compensation expense yet to be recognized for stock-based awards that have been awarded but not vested | 0 |
Stock Grants | 2015 | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Compensation expense yet to be recognized for stock-based awards that have been awarded but not vested | 0 |
Stock Grants | 2016 | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Compensation expense yet to be recognized for stock-based awards that have been awarded but not vested | 0 |
Stock Grants | 2017 | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Compensation expense yet to be recognized for stock-based awards that have been awarded but not vested | 0 |
Stock Grants | 2018 | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Compensation expense yet to be recognized for stock-based awards that have been awarded but not vested | $0 |
Fair_Value_Measurements_Balanc
Fair Value Measurements: Balances of assets and liabilities measured at estimated fair value on a recurring basis (Details) (USD $) | Dec. 31, 2013 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities, Fair Value | $3,930 | $4,101 |
Mortgage-backed Securities, U.S. government agencies | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities, Fair Value | 2,121 | 2,229 |
Mutual funds | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities, Fair Value | 943 | 958 |
Fair Value, Inputs, Level 1 | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities, Fair Value | 943 | 958 |
Fair Value, Inputs, Level 2 | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities, Fair Value | 2,987 | 3,143 |
Fair Value, Inputs, Level 3 | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities, Fair Value | 0 | 0 |
Recurring [Member] | Mortgage-backed Securities, U.S. government agencies | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities, Fair Value | 2,121 | 2,229 |
Recurring [Member] | Private label residential | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities, Fair Value | 866 | 914 |
Recurring [Member] | Mutual funds | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities, Fair Value | 943 | 958 |
Recurring [Member] | Fair Value, Inputs, Level 1 | Mortgage-backed Securities, U.S. government agencies | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities, Fair Value | 0 | 0 |
Recurring [Member] | Fair Value, Inputs, Level 1 | Private label residential | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities, Fair Value | 0 | 0 |
Recurring [Member] | Fair Value, Inputs, Level 1 | Mutual funds | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities, Fair Value | 943 | 958 |
Recurring [Member] | Fair Value, Inputs, Level 2 | Mortgage-backed Securities, U.S. government agencies | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities, Fair Value | 2,121 | 2,229 |
Recurring [Member] | Fair Value, Inputs, Level 2 | Private label residential | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities, Fair Value | 866 | 914 |
Recurring [Member] | Fair Value, Inputs, Level 2 | Mutual funds | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities, Fair Value | 0 | 0 |
Recurring [Member] | Fair Value, Inputs, Level 3 | Mortgage-backed Securities, U.S. government agencies | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities, Fair Value | 0 | 0 |
Recurring [Member] | Fair Value, Inputs, Level 3 | Private label residential | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities, Fair Value | 0 | 0 |
Recurring [Member] | Fair Value, Inputs, Level 3 | Mutual funds | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-sale Securities, Fair Value | $0 | $0 |
Fair_Value_Measurements_Balanc1
Fair Value Measurements: Balances of assets measured at estimated fair value on a non-recurring basis, and total losses resulting from estimated fair value adjustments (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||
Dec. 31, 2013 | Sep. 30, 2013 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Assets, fair value adjustments, Total Losses | $868,000 | $6,036,000 | ||
Mortgage loans, one-to-four family | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Assets, fair value adjustments, Total Losses | 350,000 | 769,000 | ||
Mortgage loans, multi-family | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Assets, fair value adjustments, Total Losses | 0 | 0 | ||
Mortgage loans, commercial | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Assets, fair value adjustments, Total Losses | 295,000 | 667,000 | ||
Mortgage loans, construction - speculative one-to-four family | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Assets, fair value adjustments, Total Losses | 0 | 0 | ||
Mortgage loans, land | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Assets, fair value adjustments, Total Losses | 93,000 | 2,307,000 | ||
Consumer loans, home equity and second mortgage | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Assets, fair value adjustments, Total Losses | 28,000 | 184,000 | ||
Total impaired loans | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Assets, fair value adjustments, Total Losses | 766,000 | [1] | 3,927,000 | [1] |
Private label residential | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Assets, fair value adjustments, Total Losses | 2,000 | [2] | 45,000 | [2] |
OREO and other repossessed items | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Assets, fair value adjustments, Total Losses | 100,000 | [3] | 2,064,000 | [3] |
Fair Value, Inputs, Level 1 | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Assets, estimated fair value, nonrecurring | 0 | 0 | ||
Fair Value, Inputs, Level 1 | Mortgage loans, one-to-four family | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Assets, estimated fair value, nonrecurring | 0 | 0 | ||
Fair Value, Inputs, Level 1 | Mortgage loans, multi-family | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Assets, estimated fair value, nonrecurring | 0 | 0 | ||
Fair Value, Inputs, Level 1 | Mortgage loans, commercial | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Assets, estimated fair value, nonrecurring | 0 | 0 | ||
Fair Value, Inputs, Level 1 | Mortgage loans, construction - speculative one-to-four family | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Assets, estimated fair value, nonrecurring | 0 | 0 | ||
Fair Value, Inputs, Level 1 | Mortgage loans, land | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Assets, estimated fair value, nonrecurring | 0 | 0 | ||
Fair Value, Inputs, Level 1 | Consumer loans, home equity and second mortgage | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Assets, estimated fair value, nonrecurring | 0 | 0 | ||
Fair Value, Inputs, Level 1 | Total impaired loans | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Assets, estimated fair value, nonrecurring | 0 | [1] | 0 | [1] |
Fair Value, Inputs, Level 1 | Private label residential | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Assets, estimated fair value, nonrecurring | 0 | [2] | 0 | [2] |
Fair Value, Inputs, Level 1 | OREO and other repossessed items | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Assets, estimated fair value, nonrecurring | 0 | [3] | 0 | [3] |
Fair Value, Inputs, Level 2 | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Assets, estimated fair value, nonrecurring | 78,000 | 83,000 | ||
Fair Value, Inputs, Level 2 | Mortgage loans, one-to-four family | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Assets, estimated fair value, nonrecurring | 0 | 0 | ||
Fair Value, Inputs, Level 2 | Mortgage loans, multi-family | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Assets, estimated fair value, nonrecurring | 0 | 0 | ||
Fair Value, Inputs, Level 2 | Mortgage loans, commercial | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Assets, estimated fair value, nonrecurring | 0 | 0 | ||
Fair Value, Inputs, Level 2 | Mortgage loans, construction - speculative one-to-four family | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Assets, estimated fair value, nonrecurring | 0 | 0 | ||
Fair Value, Inputs, Level 2 | Mortgage loans, land | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Assets, estimated fair value, nonrecurring | 0 | 0 | ||
Fair Value, Inputs, Level 2 | Consumer loans, home equity and second mortgage | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Assets, estimated fair value, nonrecurring | 0 | 0 | ||
Fair Value, Inputs, Level 2 | Total impaired loans | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Assets, estimated fair value, nonrecurring | 0 | [1] | 0 | [1] |
Fair Value, Inputs, Level 2 | Private label residential | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Assets, estimated fair value, nonrecurring | 78,000 | [2] | 83,000 | [2] |
Fair Value, Inputs, Level 2 | OREO and other repossessed items | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Assets, estimated fair value, nonrecurring | 0 | [3] | 0 | [3] |
Fair Value, Inputs, Level 3 | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Assets, estimated fair value, nonrecurring | 36,124,000 | 34,290,000 | ||
Fair Value, Inputs, Level 3 | Mortgage loans, one-to-four family | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Assets, estimated fair value, nonrecurring | 2,405,000 | 3,042,000 | ||
Fair Value, Inputs, Level 3 | Mortgage loans, multi-family | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Assets, estimated fair value, nonrecurring | 4,803,000 | 4,850,000 | ||
Fair Value, Inputs, Level 3 | Mortgage loans, commercial | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Assets, estimated fair value, nonrecurring | 11,289,000 | 12,868,000 | ||
Fair Value, Inputs, Level 3 | Mortgage loans, construction - speculative one-to-four family | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Assets, estimated fair value, nonrecurring | 602,000 | 599,000 | ||
Fair Value, Inputs, Level 3 | Mortgage loans, land | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Assets, estimated fair value, nonrecurring | 4,298,000 | 969,000 | ||
Fair Value, Inputs, Level 3 | Consumer loans, home equity and second mortgage | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Assets, estimated fair value, nonrecurring | 244,000 | 242,000 | ||
Fair Value, Inputs, Level 3 | Total impaired loans | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Assets, estimated fair value, nonrecurring | 23,641,000 | [1] | 22,570,000 | [1] |
Fair Value, Inputs, Level 3 | Private label residential | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Assets, estimated fair value, nonrecurring | 0 | [2] | 0 | [2] |
Fair Value, Inputs, Level 3 | OREO and other repossessed items | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Assets, estimated fair value, nonrecurring | $12,483,000 | [3] | $11,720,000 | [3] |
[1] | The loss represents charge-offs on collateral dependent loans for estimated fair value adjustments based on the estimated fair value of the collateral. | |||
[2] | The loss represents OTTI credit-related charges on held to maturity MBS. | |||
[3] | The loss represents the results of management’s periodic reviews of the recorded value to determine whether the property continues to be recorded at the lower of its recorded book value or estimated fair value, net of estimated costs to sell. |
Fair_Value_Measurements_Fair_V
Fair Value Measurements: Fair Value Measurements, Nonrecurring, Valuation Techniques (Details) (Market Approach, USD $) | Dec. 31, 2013 |
Impaired loans | ' |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' |
Assets, estimated fair value, nonrecurring | $23,641,000 |
Other real estate owned | ' |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ' |
Assets, estimated fair value, nonrecurring | $12,483,000 |
Fair_Value_Measurements_Schedu
Fair Value Measurements: Schedule of estimated fair values of financial instruments (Details) (USD $) | Dec. 31, 2013 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | ||
Recorded Amount | ' | ' |
Fair value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Cash and cash equivalents | $66,238 | $94,496 |
CDs held for investment | 32,428 | 30,042 |
MBS and other investments | 6,547 | 6,838 |
FHLB stock | 5,401 | 5,452 |
Loans receivable, net | 554,910 | 546,193 |
Loans held for sale | 994 | 1,911 |
Accrued interest receivable | 2,092 | 1,972 |
Non-interest-bearing demand | 98,585 | 87,657 |
Interest-bearing | 502,898 | 520,605 |
Total deposits | 601,483 | 608,262 |
FHLB advances | 45,000 | 45,000 |
Accrued interest payable | 314 | 320 |
Fair Value | ' | ' |
Fair value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Cash and cash equivalents | 66,238 | 94,496 |
CDs held for investment | 32,428 | 30,042 |
MBS and other investments | 7,363 | 7,634 |
FHLB stock | 5,401 | 5,452 |
Loans receivable, net | 528,482 | 534,364 |
Loans held for sale | 1,028 | 1,973 |
Accrued interest receivable | 2,092 | 1,972 |
Non-interest-bearing demand | 98,585 | 87,657 |
Interest-bearing | 504,090 | 522,021 |
Total deposits | 602,675 | 609,678 |
FHLB advances | 47,935 | 48,445 |
Accrued interest payable | 314 | 320 |
Fair Value | Fair Value, Inputs, Level 1 | ' | ' |
Fair value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Cash and cash equivalents | 66,238 | 94,496 |
CDs held for investment | 32,428 | 30,042 |
MBS and other investments | 943 | 973 |
FHLB stock | 5,401 | 5,452 |
Loans receivable, net | 0 | 0 |
Loans held for sale | 1,028 | 1,973 |
Accrued interest receivable | 2,092 | 1,972 |
Non-interest-bearing demand | 98,585 | 87,657 |
Interest-bearing | 337,120 | 346,455 |
Total deposits | 435,705 | 434,112 |
FHLB advances | 0 | 0 |
Accrued interest payable | 314 | 320 |
Fair Value | Fair Value, Inputs, Level 2 | ' | ' |
Fair value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Cash and cash equivalents | 0 | 0 |
CDs held for investment | 0 | 0 |
MBS and other investments | 6,420 | 6,661 |
FHLB stock | 0 | 0 |
Loans receivable, net | 0 | 0 |
Loans held for sale | 0 | 0 |
Accrued interest receivable | 0 | 0 |
Non-interest-bearing demand | 0 | 0 |
Interest-bearing | 0 | 0 |
Total deposits | 0 | 0 |
FHLB advances | 47,935 | 48,445 |
Accrued interest payable | 0 | 0 |
Fair Value | Fair Value, Inputs, Level 3 | ' | ' |
Fair value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Cash and cash equivalents | 0 | 0 |
CDs held for investment | 0 | 0 |
MBS and other investments | 0 | 0 |
FHLB stock | 0 | 0 |
Loans receivable, net | 528,482 | 534,364 |
Loans held for sale | 0 | 0 |
Accrued interest receivable | 0 | 0 |
Non-interest-bearing demand | 0 | 0 |
Interest-bearing | 166,970 | 175,566 |
Total deposits | 166,970 | 175,566 |
FHLB advances | 0 | 0 |
Accrued interest payable | $0 | $0 |