Loans Receivable (Notes) | 9 Months Ended |
Sep. 30, 2013 |
Receivables [Abstract] | |
Loans Receivable | Loans receivable are as follows: |
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| September 30, | | December 31, 2012 | | | | | | | | | | | | | | | | | | | | | | | | |
2013 | | | | | | | | | | | | | | | | | | | | | | | | |
One-to-four family residential real estate loans | $ | 204,205 | | | $ | 218,596 | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
Multi-family mortgage loans | 375,786 | | | 352,019 | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
Nonresidential real estate loans | 246,524 | | | 264,672 | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
Construction and land loans | 6,429 | | | 8,552 | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
Commercial loans | 52,978 | | | 61,388 | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
Commercial leases | 161,822 | | | 139,783 | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
Consumer loans | 2,561 | | | 2,745 | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
Total loans | 1,050,305 | | | 1,047,755 | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
Net deferred loan origination costs | 902 | | | 745 | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
Allowance for loan losses | (15,876 | ) | | (18,035 | ) | | | | | | | | | | | | | | | | | | | | | | | | |
Loans, net | $ | 1,035,331 | | | $ | 1,030,465 | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
The following tables present the balance in the allowance for loan losses and the loans receivable by portfolio segment and based on impairment method: |
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| Allowance for loan losses | | Loan Balances |
| Individually | | Purchased impaired loans | | Collectively | | Total | | Individually | | Purchased | | Collectively | | Total |
evaluated for | evaluated for | evaluated for | impaired | evaluated for |
impairment | impairment | impairment | loans | impairment |
30-Sep-13 | | | | | | | | | | | | | | | |
One-to-four family residential real estate loans | $ | 41 | | | $ | 1 | | | $ | 3,804 | | | $ | 3,846 | | | $ | 4,952 | | | $ | 405 | | | $ | 198,848 | | | $ | 204,205 | |
|
Multi-family mortgage loans | 469 | | | — | | | 4,406 | | | 4,875 | | | 12,248 | | | — | | | 363,538 | | | 375,786 | |
|
Nonresidential real estate loans | 224 | | | — | | | 4,569 | | | 4,793 | | | 5,358 | | | 1,611 | | | 239,555 | | | 246,524 | |
|
Construction and land loans | 37 | | | — | | | 561 | | | 598 | | | 1,021 | | | — | | | 5,408 | | | 6,429 | |
|
Commercial loans | 29 | | | — | | | 910 | | | 939 | | | 272 | | | 22 | | | 52,684 | | | 52,978 | |
|
Commercial leases | — | | | — | | | 728 | | | 728 | | | — | | | — | | | 161,822 | | | 161,822 | |
|
Consumer loans | — | | | — | | | 97 | | | 97 | | | — | | | — | | | 2,561 | | | 2,561 | |
|
| $ | 800 | | | $ | 1 | | | $ | 15,075 | | | $ | 15,876 | | | $ | 23,851 | | | $ | 2,038 | | | $ | 1,024,416 | | | 1,050,305 | |
|
Net deferred loan origination costs | | | | | | | | | | | | | | 902 | |
|
Allowance for loan losses | | | | | | | | | | | | | | (15,876 | ) |
Loans, net | | | | | | | | | | | | | | | $ | 1,035,331 | |
|
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| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Allowance for loan losses | | Loan Balances |
| Individually | | Purchased impaired loans | | Collectively | | Total | | Individually | | Purchased | | Collectively | | Total |
evaluated for | evaluated for | evaluated for | impaired | evaluated for |
impairment | impairment | impairment | loans | impairment |
December 31, 2012 | | | | | | | | | | | | | | | |
One-to-four family residential real estate loans | $ | 137 | | | $ | 5 | | | $ | 4,584 | | | $ | 4,726 | | | $ | 5,256 | | | $ | 380 | | | $ | 212,960 | | | $ | 218,596 | |
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Multi-family mortgage loans | 729 | | | — | | | 3,851 | | | 4,580 | | | 4,801 | | | — | | | 347,218 | | | 352,019 | |
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Nonresidential real estate loans | 401 | | | 8 | | | 5,136 | | | 5,545 | | | 11,918 | | | 2,568 | | | 250,186 | | | 264,672 | |
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Construction and land loans | 294 | | | 96 | | | 641 | | | 1,031 | | | 2,210 | | | 1,021 | | | 5,321 | | | 8,552 | |
|
Commercial loans | 23 | | | 1 | | | 1,300 | | | 1,324 | | | 256 | | | 20 | | | 61,112 | | | 61,388 | |
|
Commercial leases | — | | | — | | | 666 | | | 666 | | | — | | | — | | | 139,783 | | | 139,783 | |
|
Consumer loans | — | | | — | | | 163 | | | 163 | | | — | | | — | | | 2,745 | | | 2,745 | |
|
| $ | 1,584 | | | $ | 110 | | | $ | 16,341 | | | $ | 18,035 | | | $ | 24,441 | | | $ | 3,989 | | | $ | 1,019,325 | | | 1,047,755 | |
|
Net deferred loan origination costs | | | | | | | | | | | | | | 745 | |
|
Allowance for loan losses | | | | | | | | | | | | | | (18,035 | ) |
Loans, net | | | | | | | | | | | | | | | $ | 1,030,465 | |
|
Activity in the allowance for loan losses are as follows: |
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| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Three Months Ended September 30, | | Nine Months Ended September 30, | | | | | | | | | | | | | | | | |
| 2013 | | 2012 | | 2013 | | 2012 | | | | | | | | | | | | | | | | |
Beginning balance | $ | 17,097 | | | $ | 30,878 | | | $ | 18,035 | | | $ | 31,726 | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
Loans charged offs: | | | | | | | | | | | | | | | | | | | | | | | |
One-to-four family residential real estate loans | (528 | ) | | (3,145 | ) | | (1,073 | ) | | (4,408 | ) | | | | | | | | | | | | | | | | |
Multi-family mortgage loans | (902 | ) | | (2,159 | ) | | (1,512 | ) | | (2,848 | ) | | | | | | | | | | | | | | | | |
Nonresidential real estate loans | (138 | ) | | (5,435 | ) | | (370 | ) | | (8,070 | ) | | | | | | | | | | | | | | | | |
Construction and land loans | (16 | ) | | (806 | ) | | (943 | ) | | (1,038 | ) | | | | | | | | | | | | | | | | |
Commercial loans | (131 | ) | | (3,536 | ) | | (363 | ) | | (3,705 | ) | | | | | | | | | | | | | | | | |
Commercial leases | — | | | (68 | ) | | — | | | (68 | ) | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
Consumer loans | (38 | ) | | (72 | ) | | (50 | ) | | (95 | ) | | | | | | | | | | | | | | | | |
| (1,753 | ) | | (15,221 | ) | | (4,311 | ) | | (20,232 | ) | | | | | | | | | | | | | | | | |
Recoveries: | | | | | | | | | | | | | | | | | | | | | | | |
One-to-four family residential real estate loans | 108 | | | 7 | | | 435 | | | 192 | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
Multi-family mortgage loans | 3 | | | 11 | | | 219 | | | 491 | | | | | | | | | | | | | | | | | |
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Nonresidential real estate loans | 329 | | | 7 | | | 451 | | | 322 | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
Construction and land loans | 193 | | | 6 | | | 196 | | | 248 | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
Commercial loans | 335 | | | 421 | | | 356 | | | 610 | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
Consumer loans | 1 | | | 26 | | | 4 | | | 37 | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
| 969 | | | 478 | | | 1,661 | | | 1,900 | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
Net charge-off | (784 | ) | | (14,743 | ) | | (2,650 | ) | | (18,332 | ) | | | | | | | | | | | | | | | | |
Provision (recovery) for loan losses | (437 | ) | | 4,453 | | | 491 | | | 7,194 | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
Ending balance | $ | 15,876 | | | $ | 20,588 | | | $ | 15,876 | | | $ | 20,588 | | | | | | | | | | | | | | | | | |
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The following tables present loans individually evaluated for impairment by class of loans, excluding purchased impaired loans: |
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| | | | | | | | | Three months ended September 30, 2013 | | Nine months ended September 30, 2013 |
| Loan | | Recorded | | Partial Charge-off | | Allowance | | Average | | Interest | | Average | | Interest |
Balance | Investment | for Loan | Investment | Income | Investment | Income |
| | Losses | in Impaired | Recognized | in Impaired | Recognized |
| | Allocated | Loans | | Loans | |
September 30, 2013 | | | | | | | | | | | | | | | |
With no related allowance recorded: | | | | | | | | | | | | | | | |
One-to-four family residential real estate loans | $ | 5,157 | | | $ | 3,903 | | | $ | 1,219 | | | $ | — | | | $ | 3,780 | | | $ | 12 | | | $ | 3,774 | | | $ | 38 | |
|
One-to-four family residential real estate loans - non-owner occupied | 614 | | | 543 | | | 40 | | | — | | | 688 | | | — | | | 576 | | | — | |
|
Multi-family mortgage loans | 8,405 | | | 7,464 | | | 823 | | | — | | | 7,735 | | | 20 | | | 5,903 | | | 82 | |
|
Wholesale commercial lending | 990 | | | 996 | | | — | | | — | | | 996 | | | — | | | 398 | | | 11 | |
|
Nonresidential real estate loans | 3,708 | | | 3,113 | | | 113 | | | — | | | 3,389 | | | 1 | | | 4,212 | | | 11 | |
|
Land loans | 307 | | | 294 | | | 8 | | | — | | | 230 | | | — | | | 188 | | | — | |
|
Commercial loans - secured | — | | | — | | | — | | | — | | | 131 | | | — | | | 85 | | | — | |
|
Commercial loans - unsecured | — | | | — | | | — | | | — | | | 39 | | | — | | | 47 | | | — | |
|
| 19,181 | | | 16,313 | | | 2,203 | | | — | | | 16,988 | | | 33 | | | 15,183 | | | 142 | |
|
With an allowance recorded: | | | | | | | | | | | | | | | |
One-to-four family residential real estate loans - non-owner occupied | 572 | | | 501 | | | 61 | | | 41 | | | 470 | | | — | | | 381 | | | 2 | |
|
Multi-family mortgage loans | 4,089 | | | 2,766 | | | 1,300 | | | 373 | | | 2,999 | | | 8 | | | 2,882 | | | 88 | |
|
Wholesale commercial lending | 1,038 | | | 982 | | | 47 | | | 96 | | | 740 | | | 2 | | | 493 | | | 21 | |
|
Nonresidential real estate loans | 2,611 | | | 2,223 | | | 299 | | | 224 | | | 2,494 | | | 1 | | | 2,464 | | | 5 | |
|
Land loans | 922 | | | 724 | | | 197 | | | 37 | | | 1,117 | | | — | | | 1,488 | | | — | |
|
Commercial loans - secured | 462 | | | 273 | | | 190 | | | 29 | | | 223 | | | — | | | 344 | | | 1 | |
|
| 9,694 | | | 7,469 | | | 2,094 | | | 800 | | | 8,043 | | | 11 | | | 8,052 | | | 117 | |
|
Total | $ | 28,875 | | | $ | 23,782 | | | $ | 4,297 | | | $ | 800 | | | $ | 25,031 | | | $ | 44 | | | $ | 23,235 | | | $ | 259 | |
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| Loan | | Recorded | | Partial Charge-off | | Allowance | | Average | | Interest | | | | | | | | |
Balance | Investment | for Loan | Investment | Income | | | | | | | | |
| | Losses | in Impaired | Recognized | | | | | | | | |
| | Allocated | Loans | | | | | | | | | |
December 31, 2012 | | | | | | | | | | | | | | | | | | | |
With no related allowance recorded: | | | | | | | | | | | | | | | | | | | |
One-to-four family residential real estate loans | $ | 5,250 | | | $ | 4,216 | | | $ | 1,027 | | | $ | — | | | $ | 2,814 | | | $ | 149 | | | | | | | | | |
| | | | | | | |
One-to-four family residential real estate loans - non-owner occupied | 567 | | | 534 | | | 34 | | | — | | | 4,322 | | | 90 | | | | | | | | | |
| | | | | | | |
Multi-family mortgage loans | 2,959 | | | 2,106 | | | 819 | | | — | | | 9,303 | | | 189 | | | | | | | | | |
| | | | | | | |
Nonresidential real estate loans | 11,850 | | | 9,220 | | | 2,490 | | | — | | | 6,218 | | | 347 | | | | | | | | | |
| | | | | | | |
Land loans | — | | | — | | | — | | | — | | | 409 | | | — | | | | | | | | | |
| | | | | | | |
Commercial loans - secured | — | | | — | | | — | | | — | | | 137 | | | — | | | | | | | | | |
| | | | | | | |
Commercial loans - other | 529 | | | 52 | | | 477 | | | — | | | 25 | | | 21 | | | | | | | | | |
| | | | | | | |
Non-rated commercial leases | — | | | — | | | — | | | — | | | 23 | | | 3 | | | | | | | | | |
| | | | | | | |
| 21,155 | | | 16,128 | | | 4,847 | | | — | | | 23,251 | | | 799 | | | | | | | | | |
| | | | | | | |
With an allowance recorded: | | | | | | | | | | | | | | | | | | | |
One-to-four family residential real estate loans | — | | | — | | | — | | | — | | | 2,500 | | | — | | | | | | | | | |
| | | | | | | |
One-to-four family residential real estate loans - non-owner occupied | 626 | | | 499 | | | 128 | | | 137 | | | 1,996 | | | 13 | | | | | | | | | |
| | | | | | | |
Multi-family mortgage loans | 3,182 | | | 2,645 | | | 521 | | | 729 | | | 6,562 | | | 20 | | | | | | | | | |
| | | | | | | |
Nonresidential real estate loans | 2,825 | | | 2,549 | | | 266 | | | 401 | | | 21,077 | | | 20 | | | | | | | | | |
| | | | | | | |
Land loans | 3,812 | | | 2,210 | | | 1,602 | | | 294 | | | 2,933 | | | 113 | | | | | | | | | |
| | | | | | | |
Commercial loans - secured | 386 | | | 204 | | | 182 | | | 23 | | | 1,849 | | | — | | | | | | | | | |
| | | | | | | |
Commercial loans - unsecured | — | | | — | | | — | | | — | | | 267 | | | — | | | | | | | | | |
| | | | | | | |
Non-rated commercial leases | — | | | — | | | — | | | — | | | 36 | | | — | | | | | | | | | |
| | | | | | | |
Consumer loans | — | | | — | | | — | | | — | | | 2 | | | — | | | | | | | | | |
| | | | | | | |
| 10,831 | | | 8,107 | | | 2,699 | | | 1,584 | | | 37,222 | | | 166 | | | | | | | | | |
| | | | | | | |
Total | $ | 31,986 | | | $ | 24,235 | | | $ | 7,546 | | | $ | 1,584 | | | $ | 60,473 | | | $ | 965 | | | | | | | | | |
| | | | | | | |
Purchased Impaired Loans |
As a result of its acquisition of Downers Grove National Bank, the Company holds purchased loans for which there was evidence of deterioration of credit quality since origination and for which it was probable that all contractually required payments would not be collected as of the date of the acquisition. The carrying amount of these purchased impaired loans are as follows: |
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| September 30, | | December 31, 2012 | | | | | | | | | | | | | | | | | | | | | | | | |
2013 | | | | | | | | | | | | | | | | | | | | | | | | |
One-to-four family residential real estate loans | $ | 405 | | | $ | 380 | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
Nonresidential real estate loans | 1,611 | | | 2,568 | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
Land loans | — | | | 1,021 | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
Commercial loans | 22 | | | 20 | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
Outstanding balance | $ | 2,038 | | | $ | 3,989 | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
Carrying amount, net of allowance ($1 at September 30, 2013, $110 at December 31, 2012) | $ | 2,037 | | | $ | 3,879 | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
Accretable yield, or income expected to be collected, related to purchased impaired loans are as follows: |
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| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Three Months Ended September 30, | | Nine Months Ended September 30, | | | | | | | | | | | | | | | | |
| 2013 | | 2012 | | 2013 | | 2012 | | | | | | | | | | | | | | | | |
Beginning balance | $ | 100 | | | $ | 832 | | | $ | 196 | | | $ | 2,270 | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
New loans purchased | — | | | — | | | — | | | — | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
Disposals | — | | | 249 | | | — | | | 771 | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
Reclassifications from nonaccretable difference | (2 | ) | | — | | | 1 | | | — | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
Accretion of income | 48 | | | 179 | | | 147 | | | 1,095 | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
Ending balance | $ | 50 | | | $ | 404 | | | $ | 50 | | | $ | 404 | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
For the above purchased impaired loans, the Company decreased the allowance for loan losses by $51,000 for the three months ended September 30, 2013 and $109,000 for the nine months ended September 30, 2013. The allowance for loan losses was decreased for the above purchased impaired loans by $5,000 for the three months ended September 30, 2012 and was increased by $219,000 during the nine months ended September 30, 2012. |
Purchased impaired loans for which it was probable at the date of acquisition that all contractually required payments would not be collected are as follows: |
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| September 30, 2013 | | December 31, 2012 | | | | | | | | | | | | | | | | | | | | | | | | |
Contractually required payments receivable of loans purchased: | | | | | | | | | | | | | | | | | | | | | | | | | | | |
One-to-four family residential real estate loans | $ | 1,143 | | | $ | 1,143 | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
Nonresidential real estate loans | 1,999 | | | 3,884 | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
Land loans | — | | | 1,600 | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
Commercial loans | 222 | | | 597 | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
| $ | 3,364 | | | $ | 7,224 | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
At acquisition, cash flows expected to be collected were $18.8 million, compared to the fair value of purchased impaired loans of $15.4 million. |
Nonaccrual loans |
The following tables present the recorded investment in nonaccrual loans and loans past due over 90 days still on accrual by class of loans, excluding purchased impaired loans: |
| | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Loan Balance | | Recorded | | Loans Past | | | | | | | | | | | | | | | | | | | | |
Investment | Due Over 90 | | | | | | | | | | | | | | | | | | | | |
| Days, Still | | | | | | | | | | | | | | | | | | | | |
| Accruing | | | | | | | | | | | | | | | | | | | | |
30-Sep-13 | | | | | | | | | | | | | | | | | | | | | | | | | |
One-to-four family residential real estate loans | $ | 5,428 | | | $ | 4,168 | | | $ | — | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | |
One-to-four family residential real estate loans – non owner occupied | 1,372 | | | 1,230 | | | 89 | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | |
Multi-family mortgage loans | 12,196 | | | 9,935 | | | 235 | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | |
Wholesale commercial lending | 2,029 | | | 1,978 | | | — | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | |
Nonresidential real estate loans | 7,292 | | | 5,335 | | | 431 | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | |
Land loans | 1,229 | | | 1,018 | | | 119 | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | |
Commercial loans – secured | 461 | | | 272 | | | 5 | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | |
Commercial loans – unsecured | — | | | — | | | 86 | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | |
Consumer loans | 2 | | | 2 | | | — | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | |
| $ | 30,009 | | | $ | 23,938 | | | $ | 965 | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | |
December 31, 2012 | | | | | | | | | | | | | | | | | | | | | | | | | |
One-to-four family residential real estate loans | $ | 7,286 | | | $ | 6,154 | | | $ | 70 | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | |
One-to-four family residential real estate loans – non owner occupied | 1,420 | | | 1,145 | | | — | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | |
Multi-family mortgage loans | 5,246 | | | 3,517 | | | 242 | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | |
Nonresidential real estate loans | 12,249 | | | 8,985 | | | — | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | |
Land loans | 3,817 | | | 2,210 | | | — | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | |
Commercial loans – secured | 386 | | | 204 | | | — | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | |
Commercial loans – unsecured | 552 | | | 52 | | | 17 | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | |
| $ | 30,956 | | | $ | 22,267 | | | $ | 329 | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | |
Nonaccrual loans and impaired loans are defined differently. Some loans may be included in both categories, and some may only be included in one category. Nonaccrual loans include both smaller balance homogeneous loans that are collectively evaluated for impairment and individually classified impaired loans. |
The Company’s reserve for uncollected loan interest was $1.3 million and $942,000 at September 30, 2013 and December 31, 2012, respectively. Except for purchased impaired loans, when a loan is on non-accrual status and the ultimate collectability of the total principal of an impaired loan is in doubt, all payments are applied to principal under the cost recovery method. Alternatively, when a loan is on non-accrual status but there is doubt concerning only the ultimate collectability of interest, contractual interest is credited to interest income only when received, under the cash basis method pursuant to the provisions of FASB ASC 310–10, as applicable. In all cases, the average balances are calculated based on the month–end balances of the financing receivables within the period reported pursuant to the provisions of FASB ASC 310–10, as applicable. |
Past Due Loans |
The following tables present the aging of the recorded investment of loans at September 30, 2013 by class of loans: |
| | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 30-59 Days | | 60-89 Days | | 90 Days or | | Total Past | | Loans Not | | Total | | | | | | | | |
Past Due | Past Due | Greater | Due | Past Due | | | | | | | | |
| | Past Due | | | | | | | | | | |
One-to-four family residential real estate loans | $ | 1,034 | | | $ | 212 | | | $ | 3,205 | | | $ | 4,451 | | | $ | 143,459 | | | $ | 147,910 | | | | | | | | | |
| | | | | | | |
One-to-four family residential real estate loans - non-owner occupied | 85 | | | 172 | | | 1,015 | | | 1,272 | | | 54,770 | | | 56,042 | | | | | | | | | |
| | | | | | | |
Multi-family mortgage loans | — | | | 1,621 | | | 9,364 | | | 10,985 | | | 292,774 | | | 303,759 | | | | | | | | | |
| | | | | | | |
Wholesale commercial lending | — | | | — | | | 1,643 | | | 1,643 | | | 68,798 | | | 70,441 | | | | | | | | | |
| | | | | | | |
Nonresidential real estate loans | 2,759 | | | 400 | | | 5,513 | | | 8,672 | | | 235,174 | | | 243,846 | | | | | | | | | |
| | | | | | | |
Construction loans | — | | | — | | | — | | | — | | | 1,390 | | | 1,390 | | | | | | | | | |
| | | | | | | |
Land loans | — | | | — | | | 1,137 | | | 1,137 | | | 3,898 | | | 5,035 | | | | | | | | | |
| | | | | | | |
Commercial loans: | | | | | | | | | | | | | | | | | | | |
| | | | | | | |
Secured | 84 | | | 17 | | | 277 | | | 378 | | | 17,821 | | | 18,199 | | | | | | | | | |
| | | | | | | |
Unsecured | — | | | — | | | 84 | | | 84 | | | 3,480 | | | 3,564 | | | | | | | | | |
| | | | | | | |
Municipal loans | — | | | — | | | — | | | — | | | 4,222 | | | 4,222 | | | | | | | | | |
| | | | | | | |
Warehouse lines | — | | | — | | | — | | | — | | | 3,767 | | | 3,767 | | | | | | | | | |
| | | | | | | |
Health care | — | | | — | | | — | | | — | | | 17,176 | | | 17,176 | | | | | | | | | |
| | | | | | | |
Other | — | | | — | | | — | | | — | | | 6,198 | | | 6,198 | | | | | | | | | |
| | | | | | | |
Commercial leases: | | | | | | | | | | | | | | | | | | | |
| | | | | | | |
Investment rated commercial leases | — | | | — | | | — | | | — | | | 122,138 | | | 122,138 | | | | | | | | | |
| | | | | | | |
Below investment grade | — | | | — | | | — | | | — | | | 8,809 | | | 8,809 | | | | | | | | | |
| | | | | | | |
Non-rated | — | | | — | | | — | | | — | | | 28,905 | | | 28,905 | | | | | | | | | |
| | | | | | | |
Lease pools | — | | | — | | | — | | | — | | | 2,934 | | | 2,934 | | | | | | | | | |
| | | | | | | |
Consumer loans | 3 | | | — | | | 2 | | | 5 | | | 2,566 | | | 2,571 | | | | | | | | | |
| | | | | | | |
| $ | 3,965 | | | $ | 2,422 | | | $ | 22,240 | | | $ | 28,627 | | | $ | 1,018,279 | | | $ | 1,046,906 | | | | | | | | | |
| | | | | | | |
|
| | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 30-59 Days | | 60-89 Days | | 90 Days or | | Total Past | | Loans Not | | Total | | | | | | | | |
Past Due | Past Due | Greater | Due | Past Due | | | | | | | | |
| | Past Due | | | | | | | | | | |
Purchased impaired loans | | | | | | | | | | | | | | | | | | | |
One-to-four family residential real estate loans - non-owner occupied | $ | — | | | $ | — | | | $ | 405 | | | $ | 405 | | | $ | — | | | $ | 405 | | | | | | | | | |
| | | | | | | |
Nonresidential real estate loans | — | | | — | | | 163 | | | 163 | | | 1,446 | | | 1,609 | | | | | | | | | |
| | | | | | | |
Commercial loans – secured | — | | | — | | | 22 | | | 22 | | | — | | | 22 | | | | | | | | | |
| | | | | | | |
| $ | — | | | $ | — | | | $ | 590 | | | $ | 590 | | | $ | 1,446 | | | $ | 2,036 | | | | | | | | | |
| | | | | | | |
The following tables present the aging of the recorded investment of loans at December 31, 2012 by class of loans: |
| | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 30-59 Days | | 60-89 Days | | 90 Days or | | Total Past | | Loans Not | | Total | | | | | | | | |
Past Due | Past Due | Greater | Due | Past Due | | | | | | | | |
| | Past Due | | | | | | | | | | |
One-to-four family residential real estate loans | $ | 1,584 | | | $ | 778 | | | $ | 4,463 | | | $ | 6,825 | | | $ | 153,279 | | | $ | 160,104 | | | | | | | | | |
| | | | | | | |
One-to-four family residential real estate loans - non-owner occupied | 855 | | | 579 | | | 249 | | | 1,683 | | | 55,906 | | | 57,589 | | | | | | | | | |
| | | | | | | |
Multi-family mortgage loans | 5,393 | | | 3,049 | | | 3,218 | | | 11,660 | | | 291,103 | | | 302,763 | | | | | | | | | |
| | | | | | | |
Wholesale commercial lending | 1,481 | | | — | | | — | | | 1,481 | | | 44,342 | | | 45,823 | | | | | | | | | |
| | | | | | | |
Nonresidential real estate loans | 863 | | | 398 | | | 5,508 | | | 6,769 | | | 252,368 | | | 259,137 | | | | | | | | | |
| | | | | | | |
Land loans | 702 | | | 1,220 | | | 630 | | | 2,552 | | | 4,956 | | | 7,508 | | | | | | | | | |
| | | | | | | |
Commercial loans: | | | | | | | | | | | | | | | | | | | |
| | | | | | | |
Secured | 659 | | | 3 | | | 204 | | | 866 | | | 22,336 | | | 23,202 | | | | | | | | | |
| | | | | | | |
Unsecured | 81 | | | 78 | | | 16 | | | 175 | | | 5,774 | | | 5,949 | | | | | | | | | |
| | | | | | | |
Municipal loans | — | | | — | | | — | | | — | | | 4,752 | | | 4,752 | | | | | | | | | |
| | | | | | | |
Warehouse lines | — | | | — | | | — | | | — | | | 2,989 | | | 2,989 | | | | | | | | | |
| | | | | | | |
Health care | — | | | — | | | — | | | — | | | 17,601 | | | 17,601 | | | | | | | | | |
| | | | | | | |
Other | — | | | — | | | — | | | — | | | 6,977 | | | 6,977 | | | | | | | | | |
| | | | | | | |
Commercial leases: | | | | | | | | | | | | | | | | | | | |
| | | | | | | |
Investment rated commercial leases | — | | | — | | | — | | | — | | | 102,724 | | | 102,724 | | | | | | | | | |
| | | | | | | |
Below investment grade | — | | | — | | | — | | | — | | | 9,294 | | | 9,294 | | | | | | | | | |
| | | | | | | |
Non-rated | — | | | — | | | — | | | — | | | 25,657 | | | 25,657 | | | | | | | | | |
| | | | | | | |
Lease pools | — | | | — | | | — | | | — | | | 3,028 | | | 3,028 | | | | | | | | | |
| | | | | | | |
Consumer loans | 15 | | | — | | | — | | | 15 | | | 2,741 | | | 2,756 | | | | | | | | | |
| | | | | | | |
| $ | 11,633 | | | $ | 6,105 | | | $ | 14,288 | | | $ | 32,026 | | | $ | 1,005,827 | | | $ | 1,037,853 | | | | | | | | | |
| | | | | | | |
| | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 30-59 Days | | 60-89 Days | | 90 Days or | | Total Past | | Loans Not | | Total | | | | | | | | |
Past Due | Past Due | Greater | Due | Past Due | | | | | | | | |
| | Past Due | | | | | | | | | | |
Purchased impaired loans | | | | | | | | | | | | | | | | | | | |
One-to-four family residential real estate loans - non-owner occupied | $ | 327 | | | $ | — | | | $ | 53 | | | $ | 380 | | | $ | — | | | $ | 380 | | | | | | | | | |
| | | | | | | |
Nonresidential real estate loans | — | | | — | | | 1,125 | | | 1,125 | | | 1,443 | | | 2,568 | | | | | | | | | |
| | | | | | | |
Land loans | — | | | — | | | 1,021 | | | 1,021 | | | — | | | 1,021 | | | | | | | | | |
| | | | | | | |
Commercial loans – secured | — | | | — | | | 20 | | | 20 | | | — | | | 20 | | | | | | | | | |
| | | | | | | |
| $ | 327 | | | $ | — | | | $ | 2,219 | | | $ | 2,546 | | | $ | 1,443 | | | $ | 3,989 | | | | | | | | | |
| | | | | | | |
Troubled Debt Restructurings |
The Company evaluates loan extensions or modifications in accordance with FASB ASC 310–40 with respect to the classification of the loan as a TDR. In general, if the Company grants a loan extension or modification to a borrower for other than an insignificant period of time that includes a below–market interest rate, principal forgiveness, payment forbearance or other concession intended to minimize the economic loss to the Company, the loan extension or loan modification is classified as a TDR. In cases where borrowers are granted new terms that provide for a reduction of either interest or principal then due and payable, management measures any impairment on the restructured loan in the same manner as for impaired loans as noted above. |
The Company had $5.3 million of TDRs at September 30, 2013, compared to $11.2 million at December 31, 2012, with $94,000 in specific valuation reserves allocated to those loans at September 30, 2013 and $318,000 in specific valuation reserves allocated at December 31, 2012. The Company had no outstanding commitments to borrowers whose loans were classified as TDRs at either date. |
The following table presents loans classified as TDRs: |
| | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| September 30, 2013 | | December 31, 2012 | | | | | | | | | | | | | | | | | | | | | | | | |
One-to-four family residential real estate | $ | 3,040 | | | $ | 2,802 | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
Multi-family mortgage | 1,169 | | | 1,201 | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
Nonresidential real estate | — | | | 5,189 | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
Troubled debt restructured loans – accrual loans | 4,209 | | | 9,192 | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
One-to-four family residential real estate | 617 | | | 767 | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
Multi-family mortgage | 449 | | | 938 | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
Nonresidential real estate | — | | | 270 | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
Troubled debt restructured loans – nonaccrual loans | 1,066 | | | 1,975 | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
Total troubled debt restructured loans | $ | 5,275 | | | $ | 11,167 | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | |
Periodically, the Company will restructure a note into two separate notes (A/B structure), charging off the entire B portion of the note. The A note is structured with appropriate loan-to-value and cash flow coverage ratios that provide for a high likelihood of repayment. The A note is classified as a non-performing note until the borrower has displayed a historical payment performance for a reasonable time prior to and subsequent to the restructuring. A period of sustained repayment for at least six months generally is required to return the A note to accrual status provided that management has determined that the performance is reasonably expected to continue. The A note will be classified as a restructured note (either performing or nonperforming) through the calendar year of the restructuring that the historical payment performance has been established. These notes will be no longer included in the above tables as a TDR in the subsequent calendar year. |
During the three and nine months ending September 30, 2013 and 2012, the terms of certain loans were modified and classified as TDRs. The modification of the terms of such loans included one or a combination of the following: a reduction of the stated interest rate of the loan; an extension of the maturity date at a stated rate of interest lower than the current market rate for new debt with similar risk; or a permanent reduction of the recorded investment in the loan. |
The following tables present TDR activity: |
| | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Three Months Ended September 30, | | | | | | | | | | |
| 2013 | | 2012 | | | | | | | | | | |
| Number | | Pre- | | Post- | | Number | | Pre- | | Post- | | | | | | | | | | |
of loans | Modification | Modification | of loans | Modification | Modification | | | | | | | | | | |
| outstanding | outstanding | | outstanding | outstanding | | | | | | | | | | |
| recorded | recorded | | recorded | recorded | | | | | | | | | | |
| investment | investment | | investment | investment | | | | | | | | | | |
One-to-four family residential real estate | — | | | $ | — | | | $ | — | | | 17 | | | $ | 1,441 | | | $ | 1,441 | | | | | | | | | | | |
| | | | | | | | | |
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Due to | | Due to | | Due to | | Total | | | | | | | | | | | | | | | | |
reduction in | extension of | permanent | | | | | | | | | | | | | | | | |
interest rate | maturity date | reduction in | | | | | | | | | | | | | | | | |
| | recorded | | | | | | | | | | | | | | | | |
| | investment | | | | | | | | | | | | | | | | |
For the Three Months ended September 30, 2012 | | | | | | | | | | | | | | | | | | | | | | | |
One-to-four family residential real estate | $ | — | | | $ | 1,441 | | | $ | — | | | $ | 1,441 | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
The TDRs described above had no impact on interest income, resulted in no change to the allowance for loan losses and resulted in no charge-offs for the three months ended September 30, 2013 and 2012. |
| | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Nine Months Ended September 30, | | | | | | | | | | |
| 2013 | | 2012 | | | | | | | | | | |
| Number | | Pre- | | Post- | | Number | | Pre- | | Post- | | | | | | | | | | |
of loans | Modification | Modification | of loans | Modification | Modification | | | | | | | | | | |
| outstanding | outstanding | | outstanding | outstanding | | | | | | | | | | |
| recorded | recorded | | recorded | recorded | | | | | | | | | | |
| investment | investment | | investment | investment | | | | | | | | | | |
One-to-four family residential real estate | 3 | | | $ | 950 | | | $ | 950 | | | 24 | | | $ | 2,100 | | | $ | 2,100 | | | | | | | | | | | |
| | | | | | | | | |
Multi-family mortgage | — | | | — | | | — | | | 1 | | | 700 | | | 500 | | | | | | | | | | | |
| | | | | | | | | |
Total | 3 | | | $ | 950 | | | $ | 950 | | | 25 | | | $ | 2,800 | | | $ | 2,600 | | | | | | | | | | | |
| | | | | | | | | |
| | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Due to | | Due to | | Due to | | Total | | | | | | | | | | | | | | | | |
reduction in | extension of | permanent | | | | | | | | | | | | | | | | |
interest rate | maturity date | reduction in | | | | | | | | | | | | | | | | |
| | recorded | | | | | | | | | | | | | | | | |
| | investment | | | | | | | | | | | | | | | | |
For the Nine Months Ended September 30, 2013 | | | | | | | | | | | | | | | | | | | | | | | |
One-to-four family residential real estate | $ | — | | | $ | 950 | | | $ | — | | | $ | 950 | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
Total | $ | — | | | $ | 950 | | | $ | — | | | $ | 950 | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
For the Nine Months Ended September 30, 2012 | | | | | | | | | | | | | | | | | | | | | | | |
One-to-four family residential real estate | $ | 504 | | | $ | 1,596 | | | $ | — | | | $ | 2,100 | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
Multi-family mortgage | — | | | — | | | 500 | | | 500 | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
Total | $ | 504 | | | $ | 1,596 | | | $ | 500 | | | $ | 2,600 | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | |
For the nine months ended September 30, 2013 the TDRs described above had no impact on interest income, resulted in no change to the allowance for loan losses and resulted in no charge-offs. For the nine months ended September 30, 2012 the TDRs had no impact on interest income, but increased the allowance for loan losses by $198,000 and resulted in charge-offs of $470,000. |
The following table presents TDRs for which there was a payment default during the nine months ended September 30, 2013 and 2012 within twelve months following the modification. |
| | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 2013 | | 2012 | | | | | | | | | | | | | | | | | | |
| Number | | Recorded | | Number | | Recorded | | | | | | | | | | | | | | | | | | |
of loans | investment | of loans | investment | | | | | | | | | | | | | | | | | | |
One-to-four family residential real estate | — | | | $ | — | | | 5 | | | $ | 864 | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
Nonresidential real estate | — | | | — | | | 4 | | | 3,308 | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
Total | — | | | $ | — | | | 9 | | | $ | 4,172 | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
A loan is considered to be in payment default once it is 90 days contractually past due under the modified terms. |
TDRs that subsequently defaulted increased the allowance for loan losses by $1.1 million during the nine months ending September 30, 2012. |
The terms of certain other loans were modified during the three and nine months ending September 30, 2013 and 2012 that did not meet the definition of a TDR. These loans had a total recorded investment of $1.1 million and $328,000 at September 30, 2013 and 2012. The modification of these loans involved either a modification of the terms of a loan to borrowers who were not experiencing financial difficulties or a delay in a payment that was considered to be insignificant. |
In order to determine whether a borrower is experiencing financial difficulty, an evaluation is performed of the probability that the borrower will be in payment default on any of its debt in the foreseeable future without the modification. This evaluation is performed under the Company’s internal underwriting policy. |
Credit Quality Indicators |
The Company categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt, including current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. The Company analyzes loans individually by classifying the loans based on credit risk. This analysis includes non-homogeneous loans, such as commercial and commercial real estate loans. This analysis is performed on a monthly basis. The Company uses the following definitions for risk ratings: |
Special Mention. A Special Mention asset has potential weaknesses that deserve management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the asset or in the institution’s credit position at some future date. Special Mention assets are not adversely classified and do not expose an institution to sufficient risk to warrant adverse classification. |
Substandard/Performing. Loans categorized as Substandard/Performing continue to accrue interest, but exhibit a well-defined weakness or weaknesses that may jeopardize the liquidation of the debt. The loans continue to accrue interest because they are well secured and collection of principal and interest is expected within a reasonable time. The risk rating guidance published by the Office of the Comptroller of the Currency clarifies that a loan with a well-defined weakness does not have to present a probability of default for the loan to be rated Substandard, and that an individual loan’s loss potential does not have to be distinct for the loan to be rated Substandard. |
Nonaccrual. An asset classified Nonaccrual has all the weaknesses inherent in one classified Substandard/Performing with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. |
Loans not meeting the criteria above that are analyzed individually as part of the above described process are considered “Pass” rated loans. |
As of September 30, 2013, based on the most recent analysis performed, the risk category of loans by class of loans are as follows: |
| | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Pass | | Special | | Substandard/Performing | | Nonaccrual | | Total | | | | | | | | | | | | |
Mention | | | | | | | | | | | | |
One-to-four family residential real estate loans | $ | 143,054 | | | $ | 325 | | | $ | 969 | | | $ | 3,386 | | | $ | 147,734 | | | | | | | | | | | | | |
| | | | | | | | | | | |
One-to-four family residential real estate loans - non-owner occupied | 54,206 | | | — | | | 628 | | | 1,637 | | | 56,471 | | | | | | | | | | | | | |
| | | | | | | | | | | |
Multi-family mortgage loans | 281,964 | | | 7,472 | | | 5,262 | | | 10,310 | | | 305,008 | | | | | | | | | | | | | |
| | | | | | | | | | | |
Wholesale commercial lending | 64,659 | | | 2,706 | | | 1,766 | | | 1,647 | | | 70,778 | | | | | | | | | | | | | |
| | | | | | | | | | | |
Nonresidential real estate loans | 213,221 | | | 10,908 | | | 15,427 | | | 6,968 | | | 246,524 | | | | | | | | | | | | | |
| | | | | | | | | | | |
Construction loans | 1,388 | | | — | | | — | | | — | | | 1,388 | | | | | | | | | | | | | |
| | | | | | | | | | | |
Land loans | 2,958 | | | — | | | 1,062 | | | 1,021 | | | 5,041 | | | | | | | | | | | | | |
| | | | | | | | | | | |
Commercial loans: | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | |
Secured | 17,761 | | | — | | | 97 | | | 294 | | | 18,152 | | | | | | | | | | | | | |
| | | | | | | | | | | |
Unsecured | 2,305 | | | 284 | | | 964 | | | — | | | 3,553 | | | | | | | | | | | | | |
| | | | | | | | | | | |
Municipal loans | 4,192 | | | — | | | — | | | — | | | 4,192 | | | | | | | | | | | | | |
| | | | | | | | | | | |
Warehouse lines | 3,747 | | | — | | | — | | | — | | | 3,747 | | | | | | | | | | | | | |
| | | | | | | | | | | |
Health care | 17,159 | | | — | | | — | | | — | | | 17,159 | | | | | | | | | | | | | |
| | | | | | | | | | | |
Other | 6,175 | | | — | | | — | | | — | | | 6,175 | | | | | | | | | | | | | |
| | | | | | | | | | | |
Commercial leases: | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | |
Investment rated commercial leases | 121,439 | | | — | | | — | | | — | | | 121,439 | | | | | | | | | | | | | |
| | | | | | | | | | | |
Below investment grade | 8,739 | | | — | | | — | | | — | | | 8,739 | | | | | | | | | | | | | |
| | | | | | | | | | | |
Non-rated | 28,722 | | | — | | | — | | | — | | | 28,722 | | | | | | | | | | | | | |
| | | | | | | | | | | |
Lease pools | 2,922 | | | — | | | — | | | — | | | 2,922 | | | | | | | | | | | | | |
| | | | | | | | | | | |
Consumer loans | 2,559 | | | — | | | — | | | 2 | | | 2,561 | | | | | | | | | | | | | |
| | | | | | | | | | | |
Total | $ | 977,170 | | | $ | 21,695 | | | $ | 26,175 | | | $ | 25,265 | | | $ | 1,050,305 | | | | | | | | | | | | | |
| | | | | | | | | | | |
|
As of December 31, 2012, based on the most recent analysis performed, the risk category of loans by class of loans are as follows: |
| | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Pass | | Special | | Substandard/Performing | | Nonaccrual | | Total | | | | | | | | | | | | |
Mention | | | | | | | | | | | | |
One-to-four family residential real estate loans | $ | 152,711 | | | $ | — | | | $ | 1,428 | | | $ | 6,158 | | | $ | 160,297 | | | | | | | | | | | | | |
| | | | | | | | | | | |
One-to-four family residential real estate loans - non-owner occupied | 51,849 | | | 1,486 | | | 3,440 | | | 1,524 | | | 58,299 | | | | | | | | | | | | | |
| | | | | | | | | | | |
Multi-family mortgage loans | 275,338 | | | 6,139 | | | 21,128 | | | 3,559 | | | 306,164 | | | | | | | | | | | | | |
| | | | | | | | | | | |
Wholesale commercial lending | 44,074 | | | — | | | 1,781 | | | — | | | 45,855 | | | | | | | | | | | | | |
| | | | | | | | | | | |
Nonresidential real estate loans | 199,802 | | | 30,898 | | | 22,345 | | | 11,627 | | | 264,672 | | | | | | | | | | | | | |
| | | | | | | | | | | |
Construction loans | — | | | — | | | — | | | — | | | — | | | | | | | | | | | | | |
| | | | | | | | | | | |
Land loans | 2,769 | | | 158 | | | 2,394 | | | 3,231 | | | 8,552 | | | | | | | | | | | | | |
| | | | | | | | | | | |
Commercial loans: | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | |
Secured | 19,579 | | | 2,418 | | | 988 | | | 225 | | | 23,210 | | | | | | | | | | | | | |
| | | | | | | | | | | |
Unsecured | 4,061 | | | 323 | | | 1,497 | | | 52 | | | 5,933 | | | | | | | | | | | | | |
| | | | | | | | | | | |
Municipal loans | 4,751 | | | — | | | — | | | — | | | 4,751 | | | | | | | | | | | | | |
| | | | | | | | | | | |
Warehouse lines | 2,971 | | | — | | | — | | | — | | | 2,971 | | | | | | | | | | | | | |
| | | | | | | | | | | |
Health care | 17,566 | | | — | | | — | | | — | | | 17,566 | | | | | | | | | | | | | |
| | | | | | | | | | | |
Other | 6,957 | | | — | | | — | | | — | | | 6,957 | | | | | | | | | | | | | |
| | | | | | | | | | | |
Commercial leases: | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | |
Investment rated commercial leases | 102,101 | | | — | | | — | | | — | | | 102,101 | | | | | | | | | | | | | |
| | | | | | | | | | | |
Below investment grade | 9,205 | | | — | | | — | | | — | | | 9,205 | | | | | | | | | | | | | |
| | | | | | | | | | | |
Non-rated | 25,466 | | | — | | | — | | | — | | | 25,466 | | | | | | | | | | | | | |
| | | | | | | | | | | |
Lease pools | 3,011 | | | — | | | — | | | — | | | 3,011 | | | | | | | | | | | | | |
| | | | | | | | | | | |
Consumer loans | 2,742 | | | — | | | 3 | | | — | | | 2,745 | | | | | | | | | | | | | |
| | | | | | | | | | | |
Total | $ | 924,953 | | | $ | 41,422 | | | $ | 55,004 | | | $ | 26,376 | | | $ | 1,047,755 | | | | | | | | | | | | | |
| | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |