Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
In Millions, except Share data, unless otherwise specified | Dec. 31, 2014 | Feb. 17, 2015 | Jun. 30, 2014 |
Document and Entity Information [Abstract] | |||
Document Type | 10-K | ||
Amendment Flag | FALSE | ||
Document Period End Date | 31-Dec-14 | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2014 | ||
Entity Registrant Name | BankFinancial CORP | ||
Entity Central Index Key | 1303942 | ||
Current Fiscal Year End Date | -19 | ||
Entity Filer Category | Accelerated Filer | ||
Entity Common Stock, Shares Outstanding | 21,101,966 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Public Float | $204.10 | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No |
Consolidated_Statements_of_Fin
Consolidated Statements of Financial Condition (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Assets | ||
Cash and due from other financial institutions | $9,693 | $15,781 |
Interest-bearing deposits in other financial institutions | 49,888 | 145,176 |
Cash and cash equivalents | 59,581 | 160,957 |
Securities, at fair value | 121,174 | 110,907 |
Loans receivable, net of allowance for loan losses | 1,172,356 | 1,098,077 |
Other Real Estate Owned At Carrying Value | 6,358 | 6,306 |
Stock in Federal Home Loan Bank, at cost | 6,257 | 6,068 |
Premises and equipment, net | 34,286 | 35,328 |
Accrued interest receivable | 3,926 | 3,933 |
Core deposit intangible | 1,855 | 2,433 |
Bank owned life insurance | 22,193 | 21,958 |
Deferred Tax Assets, Net, Current | 31,643 | |
FDIC prepaid expense | 0 | |
Other assets | 5,781 | 7,627 |
Total assets | 1,465,410 | 1,453,594 |
Deposits | ||
Noninterest-bearing | 130,711 | 126,680 |
Interest-bearing | 1,081,002 | 1,126,028 |
Total deposits | 1,211,713 | 1,252,708 |
Borrowings | 12,921 | 3,055 |
Advance payments by borrowers taxes and insurance | 11,489 | 10,432 |
Accrued interest payable and other liabilities | 13,166 | 11,772 |
Total liabilities | 1,249,289 | 1,277,967 |
Commitments and contingent liabilities | ||
Stockholders' equity: | ||
Preferred Stock, $0.01 par value, 25,000,000 shares authorized, none issued or outstanding | 0 | 0 |
Common Stock, $0.01 par value, 100,000,000 shares authorized; 21,101,966 shares issued at December 31, 2014 and 2013 | 211 | 211 |
Additional paid-in capital | 193,845 | 193,594 |
Retained earnings (deficit) | 31,584 | -7,342 |
Unearned Employee Stock Ownership Plan shares | -10,276 | -11,255 |
Accumulated other comprehensive income | 757 | 419 |
Total stockholders' equity | 216,121 | 175,627 |
Total liabilities and stockholders' equity | $1,465,410 | $1,453,594 |
Consolidated_Statements_of_Fin1
Consolidated Statements of Financial Condition (Unaudited) (Parenthetical) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, except Share data, unless otherwise specified | ||
Statement of Financial Position [Abstract] | ||
Allowance for loan losses | $11,990 | $14,154 |
Preferred Stock, par value (usd per share) | $0.01 | $0.01 |
Preferred Stock, shares authorized | 25,000,000 | 25,000,000 |
Preferred Stock, shares issued | 0 | 0 |
Preferred Stock, shares outstanding | 0 | 0 |
Common Stock, par value (usd per share) | $0.01 | $0.01 |
Common Stock, shares authorized | 100,000,000 | 100,000,000 |
Common Stock, shares issued | 21,101,966 | 21,101,966 |
Consolidated_Statements_of_Ope
Consolidated Statements of Operations (USD $) | 12 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Interest and dividend income | |||
Loans, including fees | $47,802 | $47,691 | $58,716 |
Securities | 1,154 | 981 | 1,485 |
Other | 393 | 720 | 526 |
Total interest income | 49,349 | 49,392 | 60,727 |
Interest expense | |||
Deposits | 3,038 | 3,639 | 4,343 |
Borrowings | 8 | 14 | 104 |
Total interest expense | 3,046 | 3,653 | 4,447 |
Net interest income | 46,303 | 45,739 | 56,280 |
Provision for (recovery of) loan losses | -736 | -687 | 31,522 |
Net interest income | 47,039 | 46,426 | 24,758 |
Noninterest income | |||
Deposit service charges and fees | 1,933 | 2,005 | 2,176 |
Other fee income | 2,264 | 2,250 | 2,393 |
Insurance commissions and annuities income | 431 | 474 | 510 |
Gain on sale of loans, net | 158 | 1,469 | 841 |
Gain (Loss) on Sale of Securities, Net | -7 | ||
Loss on disposition of premises and equipment, net | 5 | -43 | -156 |
Loan servicing fees | 418 | 461 | 486 |
Amortization and impairment of servicing assets | -143 | -168 | -320 |
Earnings on bank owned life insurance | 235 | 313 | 438 |
Trust | 683 | 711 | 733 |
Other | 732 | 662 | 622 |
Total noninterest income | 6,709 | 8,134 | 7,723 |
Noninterest expense | |||
Compensation and benefits | 22,874 | 26,195 | 25,791 |
Office occupancy and equipment | 6,878 | 7,547 | 8,060 |
Advertising and public relations | 1,100 | 925 | 733 |
Information technology | 2,676 | 3,091 | 3,062 |
Supplies, telephone, and postage | 1,579 | 1,697 | 1,840 |
Amortization of intangibles | 578 | 605 | 633 |
Nonperforming asset management | 838 | 2,638 | 5,211 |
Operations of other real estate owned | 1,408 | 1,613 | 7,491 |
FDIC insurance premiums | 1,416 | 1,913 | 1,779 |
Other | 5,104 | 5,038 | 4,990 |
Total noninterest expense | 44,451 | 51,262 | 59,590 |
Income (loss) before income taxes | 9,297 | 3,298 | -27,109 |
Income tax expense (benefit) | -31,317 | 0 | 0 |
Net income (loss) | $40,614 | $3,298 | ($27,109) |
Basic earnings (loss) per common share (usd per share) | $2.01 | $0.16 | ($1.36) |
Diluted earnings (loss) per common share (usd per share) | $2.01 | $0.16 | ($1.36) |
Weighted average common shares outstanding (shares) | 20,177,271 | 20,020,838 | 19,888,517 |
Diluted weighted average common shares outstanding (shares) | 20,186,376 | 20,025,321 | 19,888,517 |
Consolidated_Statements_Compre
Consolidated Statements Comprehensive Income (Loss) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Statement of Comprehensive Income [Abstract] | |||
Net income (loss) | $40,614 | $3,298 | ($27,109) |
Unrealized holding gain (loss) arising during the period | 125 | -699 | 7 |
Tax effect | 213 | 0 | 0 |
Other comprehensive income (loss) on securities, net of tax effect | 338 | -699 | 7 |
Comprehensive income (loss) | $40,952 | $2,599 | ($27,102) |
Consolidated_Statements_of_Cha
Consolidated Statements of Changes In Stockholders' Equity (USD $) | Total | Common Stock | Additional Paid-in Capital | Retained Earnings | Unearned Employee Stock Ownership Plan Shares | Accumulated Other Comprehensive Income (Loss) |
In Thousands, unless otherwise specified | ||||||
Beginning Balance at Dec. 31, 2011 | $199,857 | $211 | $193,801 | $17,946 | ($13,212) | $1,111 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income (loss) | -27,109 | 0 | 0 | -27,109 | 0 | 0 |
Other comprehensive income, net of tax effect | 7 | 0 | 0 | 0 | 0 | 7 |
Nonvested stock awards-stock-based compensation expense | 41 | 0 | 41 | 0 | 0 | 0 |
Cash dividends declared on common stock | -633 | 0 | 0 | -633 | 0 | 0 |
ESOP shares earned | 727 | 0 | -252 | 0 | 979 | 0 |
Ending Balance at Dec. 31, 2012 | 172,890 | 211 | 193,590 | -9,796 | -12,233 | 1,118 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income (loss) | 3,298 | 0 | 0 | 3,298 | 0 | 0 |
Other comprehensive income, net of tax effect | -699 | 0 | 0 | 0 | 0 | -699 |
Nonvested stock awards-stock-based compensation expense | 86 | 0 | 86 | 0 | 0 | 0 |
Cash dividends declared on common stock | -844 | 0 | 0 | -844 | 0 | 0 |
ESOP shares earned | 896 | 0 | -82 | 0 | 978 | 0 |
Ending Balance at Dec. 31, 2013 | 175,627 | 211 | 193,594 | -7,342 | -11,255 | 419 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income (loss) | 40,614 | 0 | 0 | 40,614 | 0 | 0 |
Other comprehensive income, net of tax effect | 338 | 0 | 0 | 0 | 0 | 338 |
Nonvested stock awards-stock-based compensation expense | 70 | 0 | 70 | 0 | 0 | 0 |
Cash dividends declared on common stock | -1,688 | 0 | 0 | -1,688 | 0 | 0 |
ESOP shares earned | 1,160 | 0 | 181 | 0 | 979 | 0 |
Ending Balance at Dec. 31, 2014 | $216,121 | $211 | $193,845 | $31,584 | ($10,276) | $757 |
Consolidated_Statements_of_Cha1
Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Purchase and retirement of common stock (shares) | 0 | 0 | 0 |
Cash dividends declared on common stock (usd per share) | $0.08 | $0.04 | $0.03 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flow (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Cash flows from operating activities | |||
Net income (loss) | $40,614 | $3,298 | ($27,109) |
Adjustments to reconcile to net loss to net cash from operating activities | |||
Provision for (recovery of) loan losses | -736 | -687 | 31,522 |
ESOP shares earned | 1,160 | 896 | 727 |
Stock-based compensation expense | 70 | 86 | 41 |
Depreciation and amortization | 3,811 | 4,453 | 4,546 |
Other Comprehensive Income (Loss), Tax, Portion Attributable to Parent | 213 | 0 | 0 |
Amortization of premiums and discounts on securities and loans | -438 | -736 | -2,502 |
Amortization Of Intangibles | 578 | 605 | 633 |
Amortization and impairment of servicing assets | 143 | 168 | 320 |
Net change in net deferred loan origination costs | -229 | -225 | 163 |
Net loss on sale of other real estate owned | 35 | 148 | 253 |
Net gain on sale of loans | -158 | -1,469 | -841 |
Gain (Loss) on Sale of Securities, Net | 7 | ||
Net loss disposition of premises and equipment | -5 | 43 | 156 |
Loans originated for sale | -5,323 | -10,771 | -18,639 |
Proceeds from sale of loans | 5,481 | 11,670 | 20,984 |
Other real estate owned valuation adjustments | 438 | 550 | 5,559 |
Net change in: | |||
Deferred income tax | -31,643 | 0 | 0 |
Accrued interest receivable | 7 | 213 | 1,427 |
Earnings on bank owned life insurance | -235 | -313 | -438 |
Other assets | 2,874 | -243 | 1,400 |
Accrued interest payable and other liabilities | 1,394 | 2,093 | -1,189 |
Net Cash Provided by (Used in) Operating Activities | 17,845 | 9,779 | 17,013 |
Securities | |||
Proceeds from maturities | 52,103 | 26,813 | 30,590 |
Proceeds from principal repayments | 7,179 | 13,492 | 19,668 |
Proceeds from sales of securities | 3,663 | 0 | 0 |
Purchases of securities | -73,142 | -74,220 | -35,360 |
Loans receivable | |||
Principal payments on loans receivable | 432,571 | 453,153 | 518,330 |
Purchase of loans | 0 | 0 | -5,641 |
Originated for investment | -513,384 | -524,592 | -364,596 |
Proceeds from sale of loans | 0 | 2,868 | 10,988 |
Proceeds of redemption of Federal Home Loan Bank of Chicago stock | 0 | 2,344 | 7,934 |
Payments to Acquire Federal Home Loan Bank Stock | -189 | ||
Proceeds from sale of other real estate owned | 4,914 | 8,838 | 13,154 |
Purchases of premises and equipment, net | -1,176 | -10 | -2,335 |
Net cash from (used in) investing activities | -87,461 | -91,314 | 192,732 |
Cash flows from financing activities | |||
Net change in deposits | -40,995 | -29,643 | -50,026 |
Net change in borrowings | 9,866 | -2,512 | -3,755 |
Net change in advance payments by borrowers for taxes and insurance | 1,057 | -273 | -271 |
Cash dividends paid on common stock | -1,688 | -844 | -633 |
Net cash used in financing activities | -31,760 | -33,272 | -54,685 |
Net change in cash and cash equivalents | -101,376 | -114,807 | 155,060 |
Beginning cash and cash equivalents | 160,957 | 275,764 | 120,704 |
Ending cash and cash equivalents | 59,581 | 160,957 | 275,764 |
Supplemental disclosures of cash flow information: | |||
Interest paid | 3,070 | 3,697 | 4,502 |
Income taxes paid | 114 | 0 | 0 |
Income taxes refunded | 0 | 461 | 1,423 |
Loans transferred to other real estate owned | 5,449 | 5,512 | 7,035 |
Loans transferred to held for sale | $0 | $0 | $12,740 |
Summary_of_Significant_Account
Summary of Significant Accounting Policies (Notes) | 12 Months Ended | |
Dec. 31, 2014 | ||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Summary of Significant Accounting Policies | Basis of Presentation: BankFinancial Corporation, a Maryland corporation headquartered in Burr Ridge, Illinois (the “Company”), is the owner of all of the issued and outstanding capital stock of BankFinancial, F.S.B. (the “Bank”). | |
Principles of Consolidation: The consolidated financial statements include the accounts of and transactions of BankFinancial Corporation, the Bank, and the Bank’s wholly-owned subsidiaries, Financial Assurance Services, Inc. and BF Asset Recovery Corporation (collectively, “the Company”). All significant intercompany accounts and transactions have been eliminated. | ||
Nature of Business: The Company’s revenues, operating income, and assets are primarily from the banking industry. Loan origination customers are mainly located in the greater Chicago metropolitan area. To supplement loan originations, the Company purchases mortgage loans. The loan portfolio is concentrated in loans that are primarily secured by real estate. | ||
Use of Estimates: To prepare financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”), management makes estimates and assumptions based on available information. These estimates and assumptions affect the amounts reported in the financial statements and the disclosures provided, and actual results could differ. | ||
Interest-bearing Deposits in Other Financial Institutions: Interest-bearing deposits in other financial institutions maturing in less than 90 days are carried at cost. | ||
Cash Flows: Cash and cash equivalents include cash, deposits with other financial institutions maturing in less than 90 days, and daily federal funds sold. Net cash flows are reported for customer loan and deposit transactions, interest bearing deposits in other financial institutions, borrowings, and advance payments by borrowers for taxes and insurance. | ||
Securities: Debt securities are classified as available-for-sale when they might be sold before maturity. Equity securities with readily determinable fair values are classified as available-for-sale. Securities available-for-sale are carried at fair value, with unrealized holding gains and losses reported in other comprehensive income (loss), net of tax. Interest income includes amortization of purchase premium or discount. Premiums and discounts on securities are amortized on the level-yield method without anticipating prepayments, except for mortgage-backed securities where prepayments are anticipated. Gains and losses on sales are based on the amortized cost of the security sold. Declines in the fair value of securities below their cost that are other-than-temporary are reflected as realized losses. In determining if losses are other-than-temporary, management considers: (1) the length of time and extent that fair value has been less than cost or adjusted cost, as applicable, (2) the financial condition and near term prospects of the issuer, and (3) whether the Company has the intent to sell the debt security or it is more likely than not that the Company will be required to sell the debt security before the anticipated recovery. | ||
Securities also include investments in certificates of deposit with maturities of greater than 90 days. These certificates of deposit are placed with insured institutions for varying maturities and amounts that are fully insured by the Federal Deposit Insurance Corporation (“FDIC”). | ||
Federal Home Loan Bank Stock: The Bank is a member of the Federal Home Loan Bank system. Members are required to own a certain amount of stock based on the level of borrowings and other factors, and may invest in additional amounts. Federal Home Loan Bank of Chicago (“FHLBC”) stock is carried at cost and classified as a restricted security. Accounting guidance for FHLBC stock provides that, for impairment testing purposes, the value of long term investments such as our FHLBC common stock is based on the “ultimate recoverability” of the par value of the security without regard to temporary declines in value. Both cash and stock dividends are reported as income. | ||
Loans Held–for–Sale: Mortgage loans originated and intended for sale in the secondary market are carried at the lower of aggregate cost or estimated fair market value, as determined by outstanding commitments from investors. Net unrealized losses, if any, are recorded as a valuation allowance and charged to earnings. Mortgage loans held–for–sale are generally sold with servicing rights retained. The carrying value of mortgage loans sold is reduced by the fair value of the servicing right. Gains and losses on sales of mortgage loans are based on the difference between the selling price and the carrying value of the related loan sold. | ||
Held for investment loans that have been transferred to held-for-sale are carried at the lower of cost or fair value. For held-for-sale loans, any decreases in value below cost after transfer are recognized in mortgage banking revenue in the Consolidated Statements of Operations and increases in fair value above cost are not recognized until the loans are sold. The credit component of any write down upon transfer to held-for-sale is reflected in charge-offs to the allowance for loan losses. | ||
Fair market value is determined based on quoted market rates and our judgment of relevant market conditions. Gains and losses on the disposition of loans held-for-sale are determined on the specific identification method. Transferred mortgage loans sold in the secondary market are sold without retaining servicing rights. | ||
Loans and Loan Income: Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are reported at the principal balance outstanding, net of the allowance for loan losses, premiums and discounts on loans purchased, and net deferred loan costs. Interest income on loans is recognized in income over the term of the loan based on the amount of principal outstanding. | ||
Premiums and discounts associated with loans purchased are amortized over the contractual term of the loan using the level–yield method. Loan origination fees, net of certain direct origination costs, are deferred and recognized in interest income using the level‑yield method without anticipating prepayments. | ||
Interest income is reported on the interest method. Interest income is discontinued at the time a loan is 90 days past due or when we do not expect to receive full payment of interest or principal. Past due status is based on the contractual terms of the loan. | ||
All interest accrued but not received for loans that have been placed on nonaccrual status is reversed against interest income. Interest received on such loans is accounted for on the cash–basis or cost–recovery method until qualifying for return to accrual status. Once a loan is placed on non-accrual status, the borrower must generally demonstrate at least six months of payment performance before the loan is eligible to return to accrual status. Generally, the Company utilizes the “90 days delinquent, still accruing” category of loan classification when: (1) the loan is repaid in full shortly after the period end date; (2) the loan is well secured and there are no asserted or pending legal barriers to its collection; or (3) the borrower has remitted all scheduled payments and is otherwise in substantial compliance with the terms of the loan, but the processing of payments actually received or the renewal of a loan has not occurred for administrative reasons. | ||
Impaired Loans: Impaired loans consist of nonaccrual loans and troubled debt restructurings (“TDRs”). A loan is considered impaired when, based on current information and events, management believes that it is probable that we will be unable to collect all amounts due (both principal and interest) according to the original contractual terms of the loan agreement. Once a loan is determined to be impaired, the amount of impairment is measured based on the loan's observable fair value, the fair value of the underlying collateral less selling costs if the loan is collateral-dependent, or the present value of expected future cash flows discounted at the loan's effective interest rate. If the measurement of the impaired loan is less than the recorded investment in the loan, the bank's allowance for the impaired collateral dependent loan under ASC 310-10-35 is based on fair value (less costs to sell), but the charge-off (the confirmed “loss”) is based on the higher appraised value. The remaining recorded investment in the loan after the charge-off will have a loan loss allowance for the amount by which the estimated fair value of the collateral (less costs to sell) is less than its appraised value. | ||
Impaired loans with specific reserves are reviewed quarterly for any changes that would affect the specific reserve. Any impaired loan for which a determination has been made that the economic value is permanently reduced is charged-off against the allowance for loan losses to reflect its current economic value in the period in which the determination has been made. | ||
At the time a collateral-dependent loan is initially determined to be impaired, we review the existing collateral appraisal. If the most recent appraisal is greater than a year old, a new appraisal is obtained on the underlying collateral. Appraisals are updated with a new independent appraisal at least annually and are formally reviewed by our internal appraisal department upon receipt of a new appraisal. All impaired loans and their related reserves are reviewed and updated each quarter. With an immaterial number of exceptions, all appraisals and internal reviews are current under this methodology at December 31, 2014. | ||
Purchased Impaired Loans: Purchased impaired loans are recorded at their estimated fair values on the respective purchase dates and are accounted for prospectively based on expected cash flows. No allowance for credit losses is recorded on these loans at the acquisition date. In determining the acquisition date fair value of purchased impaired loans, and in subsequent accounting, the Company reviews these loans on an individual basis. Expected future cash flows in excess of the fair value of loans at the purchase date (''accretable yield'') are recorded as interest income over the life of the loans if the timing and amount of the future cash flows can be reasonably estimated. The non-accretable yield represents estimated losses in the portfolio and is equal to the difference between contractually required payments and the cash flows expected to be collected at acquisition. | ||
Subsequent to the purchase date, increases in cash flows over those expected at the purchase date are recognized as interest income prospectively. The present value of any decreases in expected cash flows after the purchase date is recognized by recording a charge-off through the allowance for loan losses. | ||
Troubled Debt Restructurings: A loan is classified as a troubled debt restructuring when a borrower is experiencing financial difficulties that leads to a restructuring of the loan, and the Company grants concessions to the borrower in the restructuring that it would not otherwise consider. These concessions may include rate reductions, principal forgiveness, extension of maturity date and other actions intended to minimize potential losses. | ||
In determining whether a debtor is experiencing financial difficulties, the Company considers if the debtor is in payment default or would be in payment default in the foreseeable future without the modification, the debtor declared or is in the process of declaring bankruptcy, there is substantial doubt that the debtor will continue as a going concern, the debtor has securities that have been or are in the process of being delisted, the debtor's entity-specific projected cash flows will not be sufficient to service any of its debt, or the debtor cannot obtain funds from sources other than the existing creditors at a market rate for debt with similar risk characteristics. | ||
In determining whether the Company has granted a concession, the Company assesses, if it does not expect to collect all amounts due, whether the current value of the collateral will satisfy the amounts owed, whether additional collateral or guarantees from the debtor will serve as adequate compensation for other terms of the restructuring, and whether the debtor otherwise has access to funds at a market rate for debt with similar risk characteristics. | ||
A loan that is modified at a market rate of interest will not be classified as troubled debt restructuring in the calendar year subsequent to the restructuring if it is in compliance with the modified terms. Payment performance prior and subsequent to the restructuring is taken into account in assessing whether it is likely that the borrower can meet the new terms. This may result in the loan being returned to accrual at the time of restructuring. A period of sustained repayment for at least six months generally is required for return to accrual status. | ||
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 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. | ||
Allowance for Loan Losses: The Company establishes provisions for loan losses, which are charged to the Company’s results of operations to maintain the allowance for loan losses to absorb probable incurred credit losses in the loan portfolio. In determining the level of the allowance for loan losses, the Company considers past and current loss experience, trends in classified loans, evaluations of real estate collateral, current economic conditions, volume and type of lending, adverse situations that may affect a borrower’s ability to repay a loan and the levels of nonperforming and other classified loans. The amount of the allowance is based on estimates and the ultimate losses may vary from the estimates as more information becomes available or events change. | ||
The Company provides for loan losses based on the allowance method. Accordingly, all loan losses are charged to the related allowance and all recoveries are credited to it. Additions to the allowance for loan losses are provided by charges to income based on various factors that, in our judgment, deserve current recognition in estimating probable incurred credit losses. The Company reviews the loan portfolio on an ongoing basis and makes provisions for loan losses on a quarterly basis to maintain the allowance for loan losses in accordance with GAAP. The allowance for loan losses consists of two components: | ||
• | specific allowances established for any impaired residential non-owner occupied mortgage, multi-family mortgage, nonresidential real estate, construction and land, commercial, and commercial lease loans for which the recorded investment in the loan exceeds the measured value of the loan; and | |
• | general allowances for loan losses for each loan class based on historical loan loss experience; and adjustments to historical loss experience (general allowances), maintained to cover uncertainties that affect our estimate of probable incurred credit losses for each loan class. If the remaining unamortized discount related to a specific pool of purchased performing loans exceeds the estimated credit losses associated with these loans, no general valuation allowance is recorded against the loans. | |
The adjustments to historical loss experience are based on our evaluation of several factors, including levels of, and trends in, past due and classified loans; levels of, and trends in, charge–offs and recoveries; trends in volume and terms of loans, including any credit concentrations in the loan portfolio; experience and ability of lending management and other relevant staff; and national and local economic trends and conditions. | ||
The Company evaluates the allowance for loan losses based upon the combined total of the specific and general components. Generally, when the loan portfolio increases, absent other factors, the allowance for loan loss methodology results in a higher dollar amount of estimated probable incurred credit losses than would be the case without the increase. Conversely, when the loan portfolio decreases, absent other factors, the allowance for loan loss methodology generally results in a lower dollar amount of estimated probable losses than would be the case without the decrease. | ||
The loss ratio used in computing the required general loan loss reserve allowance for a given class of loan consists of (i) the actual loss ratio (measured on a weighted, rolling twelve-quarter basis), (ii) the change in credit quality within the specific loan class during the period, (iii) the actual inherent risk factor assigned to the specific loan class and (iv) the actual concentration of risk factor assigned to the specific loan class (collectively, “the Specific Loan Class Risk Factors”). The Specific Loan Class Risk Factors are weighted equally in the calculation. In addition, two additional quantitative factors, the National Economic risk factor and the Local Economic risk factor, are also components of the computation but are given different weightings in their computation due to their relative applicability to the specific loan class in the context of the effect of national and local economic conditions on their risk profile and performance. | ||
Mortgage Servicing Rights: Mortgage servicing rights are recognized separately when they are acquired through sales of loans. When mortgage loans are sold, servicing rights are initially recorded at fair value and gains on sales of loans are recorded in the statement of operations. Fair value is based on market prices for comparable mortgage servicing contracts, when available, or alternatively, is based on a valuation model that calculates the present value of estimated future net servicing income. The valuation model incorporates assumptions that market participants would use in estimating future net servicing income, such as the servicing cost per loan, the discount rate, the escrow float rate, an inflation rate, ancillary income, prepayment speeds and default rates and losses. The Company compares the valuation model inputs and results to published industry data in order to validate the model results and assumptions. All classes of servicing assets are subsequently measured using the amortization method which requires servicing rights to be amortized into noninterest income in proportion to, and over the period of, the estimated future net servicing income of the underlying loans. | ||
Servicing assets are evaluated for impairment based upon the fair value of the rights as compared to carrying amount. Impairment is determined by stratifying rights into groupings based on predominant risk characteristics, such as interest rate, loan type and investor type. Impairment is recognized through a valuation allowance for an individual grouping, to the extent that fair value is less than the carrying amount. If the Company later determines that all or a portion of the impairment no longer exists for a particular grouping, a reduction of the allowance may be recorded as an increase to income. Changes in valuation allowances are reported with amortization and impairment of servicing assets on the statement of operations. The fair values of servicing rights are subject to significant fluctuations as a result of changes in estimated and actual prepayment speeds and default rates and losses. | ||
Servicing fee income that is reported on the statement of operations as loan servicing fees is recorded for fees earned for servicing loans. The fees are based on a contractual percentage of the outstanding principal; or a fixed amount per loan and are recorded as income when earned. Late fees and ancillary fees related to loan servicing are not material. | ||
Other Real Estate Owned: Real estate properties acquired in collection of a loan are initially recorded at fair value less cost to sell at acquisition, establishing a new cost basis. If fair value declines subsequent to foreclosure, a valuation allowance is recorded through expense. Operating expenses, gains and losses on disposition, and changes in the valuation allowance are reported in noninterest expense as operations of other real estate owned ("OREO"). | ||
Premises and Equipment: Land is carried at cost. Premises and equipment are stated at cost less accumulated depreciation. Depreciation is included in noninterest expense and is computed on the straight-line method over the estimated useful lives of the assets. Useful lives are estimated to be 25 to 40 years for buildings and improvements that extend the life of the original building, ten to 20 years for routine building improvements, five to 15 years for furniture and equipment, two to five years for computer hardware and software and no greater than four years on automobiles. The cost of maintenance and repairs is charged to expense as incurred and significant repairs are capitalized. | ||
Other Intangible Assets: Intangible assets acquired in a purchase business combination with definite useful lives are amortized over their estimated useful lives to their estimated residual values. Core deposit intangible assets (“CDI”), are recognized at the time of acquisition based on valuations prepared by independent third parties or other estimates of fair value. In preparing such valuations, variables such as deposit servicing costs, attrition rates, and market discount rates are considered. CDI assets are amortized to expense over their useful lives. | ||
Bank Owned Life Insurance: The Company has purchased life insurance policies on certain key executives. The Company owned life insurance is recorded at the amount that can be realized under the insurance contract at the balance sheet date, which is the cash surrender value adjusted for other charges or other amounts due that are probable at settlement. | ||
Long-Term Assets: Premises and equipment, core deposit and other intangible assets, and other long-term assets are reviewed for impairment when events indicate that their carrying amount may not be recoverable from future undiscounted cash flows. If impaired, the assets are recorded at fair value. | ||
Loan Commitments and Related Financial Instruments: Financial instruments include off-balance-sheet credit instruments, such as commitments to make loans and commercial letters of credit, issued to meet customer financing needs. The face amount for these items represents the exposure to loss, before considering customer collateral or ability to repay. Such financial instruments are recorded when they are funded. | ||
Income Taxes: Income tax expense is the total of the current year income tax due or refundable and the change in deferred tax assets and liabilities. Under GAAP, a deferred tax asset valuation allowance is required to be recognized if it is “more likely than not” that the deferred tax asset will not be realized. The determination of the realizability of the deferred tax assets is highly subjective and dependent upon judgment concerning management’s evaluation of both positive and negative evidence, the forecasts of future taxable income, applicable tax planning strategies, and assessments of current and future economic and business conditions. The Company considers both positive and negative evidence regarding the ultimate realizability of our deferred tax assets. Examples of positive evidence may include the existence, if any, of taxes paid in available carry-back years and the likelihood that taxable income will be generated in future periods. Examples of negative evidence may include a cumulative loss in the current year and prior two years and negative general business and economic trends. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period of the enactment date. | ||
This analysis is updated quarterly and adjusted as necessary. At December 31, 2014, the Company had a net deferred tax asset of $31.6 million, after recording a full recovery of the valuation allowance established in 2011. | ||
A tax position is recognized as a benefit only if it "more likely than not" that the tax position would be sustained in a tax examination, presuming that a tax examination will occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely to be realized on examination. For tax positions not meeting the more likely than not" test, no tax benefit is recorded. | ||
Retirement Plans: Employee 401(k) and profit sharing plan expense is the amount of matching contributions and any annual discretionary contribution made at the discretion of the Company’s Board of Directors. Deferred compensation expense allocates the benefits over years of service. | ||
Employee Stock Ownership Plan (“ESOP”): The cost of shares issued to the ESOP, but not yet allocated to participants, is shown as a reduction of stockholders’ equity. Compensation expense is based on the market price of shares as they are committed to be released to participant accounts. Dividends on allocated ESOP shares reduce retained earnings; dividends on unearned ESOP shares reduce debt and accrued interest. | ||
Earnings (Loss) Per Common Share: Basic earnings (loss) per common share is net income (loss) divided by the weighted average number of common shares outstanding during the period. ESOP shares are considered outstanding for this calculation unless unearned. Diluted earnings (loss) per common share is net income (loss) divided by the weighted average number of common shares outstanding during the period plus the dilutive effect of restricted stock shares and the additional potential shares issuable under stock options. | ||
Loss Contingencies: Loss contingencies, including claims and legal actions arising in the ordinary course of business, are recorded as liabilities when the likelihood of loss is probable and an amount or range of loss can be reasonably estimated. Management does not believe that there are such matters that will have a material effect on the financial statements as of December 31, 2014. | ||
Restrictions on Cash: Cash on hand or on deposit with the Federal Reserve Bank which is required to meet regulatory reserve and clearing requirements. | ||
Fair Values of Financial Instruments: Fair values of financial instruments are estimated using relevant market value information and other assumptions, as more fully disclosed in a separate note. Fair value estimates involve uncertainties and matters of significant judgment regarding interest rates, credit risk, prepayments, and other factors, especially in the absence of broad markets for particular items. Changes in assumptions or in market conditions could significantly affect the estimates. | ||
Comprehensive Income (Loss): Comprehensive income (loss) consists of net income (loss) and other comprehensive income (loss). Other comprehensive income (loss) includes unrealized gains and losses on securities, net of tax, which are also recognized as separate components of stockholders’ equity. | ||
Stock-based Compensation: Compensation cost is recognized for stock options and restricted stock awards issued to employees, based on the fair value of these awards at the date of grant. The Black-Scholes model is utilized to estimate the fair value of stock options, while the market price of the Company’s common stock at the date of grant is used for restricted stock awards. Compensation cost is recognized over the required service period, generally defined as the vesting period. | ||
Transfers of Financial Assets: Transfers of financial assets are accounted for as sales when control over the assets has been relinquished. Control over transferred assets is deemed to be surrendered when the assets have been isolated from the Company, the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets, and the Company does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity. | ||
Operating Segments: While management monitors the revenue streams of the various products and services, operations are managed and financial performance is evaluated on a Company-wide basis. Operating results are not reviewed by senior management to make resource allocation or performance decisions. Accordingly, all of the financial service operations are considered by management to be aggregated in one reportable operating segment. | ||
Reclassifications: Certain reclassifications have been made in the prior year’s financial statements to conform to the current year’s presentation. | ||
Recent Accounting Pronouncements | ||
In January 2014, the FASB amended existing guidance to clarify when a creditor should derecognize a loan receivable and recognized collateral asset. An in substance repossession or foreclosure occurs, and a creditor is considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan, upon either (1) the creditor obtaining legal title to the residential real estate property upon completion of a foreclosure or (2) the borrower conveying all interest in the residential real estate property to the creditor to satisfy that loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. Additionally, the amendment requires interim and annual disclosure of both (1) the amount of foreclosed residential real estate property held by the creditor and (2) the recorded investment in consumer mortgage loans collateralized by residential real estate property that are in the process of foreclosure according to local requirements of the applicable jurisdiction. This amendment is effective for interim and annual reporting periods beginning after December 15, 2014. The adoption of this standard will not have a material impact on the Company’s results of operation or financial position but will require expansion of the Company’s disclosures. | ||
FASB ASC 606 - In May 2014, the FASB issued an update (ASU No. 2014-09, Revenue from Contracts with Customers) creating FASB Topic 606, Revenue from Contracts with Customers. The guidance in this update affects any entity that either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of nonfinancial assets unless those contracts are within the scope of other standards (for example, insurance contracts or lease contracts). The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance provides steps to follow to achieve the core principle. An entity should disclose sufficient information to enable users of financial statements to understand the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. Qualitative and quantitative information is required about contracts with customers, significant judgments and changes in judgments, and assets recognized from the costs to obtain or fulfill a contract. The amendments in this update become effective for annual periods and interim periods within those annual periods beginning after December 15, 2016. We are currently evaluating the impact of adopting the new guidance on the consolidated financial statements. |
Earnings_Loss_Per_Share_Notes
Earnings (Loss) Per Share (Notes) | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Earnings Per Share [Abstract] | ||||||||||||
Loss per Share | Amounts reported in earnings (loss) per share reflect loss available to common stockholders for the period divided by the weighted average number of shares of common stock outstanding during the period, exclusive of unearned ESOP shares and unvested restricted stock shares. Stock options and restricted stock are regarded as potential common stock and are considered in the diluted earnings per share calculations to the extent that they would have a dilutive effect if converted to common stock. | |||||||||||
For the years ended December 31, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Net income (loss) available to common stockholders | $ | 40,614 | $ | 3,298 | $ | (27,109 | ) | |||||
Average common shares outstanding | 21,101,966 | 21,091,399 | 21,072,966 | |||||||||
Less: | ||||||||||||
Unearned ESOP shares | (905,235 | ) | (1,054,140 | ) | (1,182,495 | ) | ||||||
Unvested restricted stock shares | (19,460 | ) | (16,421 | ) | (1,954 | ) | ||||||
Weighted average common shares outstanding | 20,177,271 | 20,020,838 | 19,888,517 | |||||||||
Add - Net effect of dilutive stock options and unvested restricted stock | 9,105 | 4,483 | — | |||||||||
Weighted average dilutive common shares outstanding | 20,186,376 | 20,025,321 | 19,888,517 | |||||||||
Basic earnings (loss) per common share | $ | 2.01 | $ | 0.16 | $ | (1.36 | ) | |||||
Diluted earnings (loss) per common share | $ | 2.01 | $ | 0.16 | $ | (1.36 | ) | |||||
Number of antidilutive stock options excluded from the diluted earnings per share calculation | — | — | — | |||||||||
Weighted average exercise price of anti-dilutive option shares | $ | — | $ | — | $ | — | ||||||
Securities_Notes
Securities (Notes) | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ||||||||||||||||||||||||
SECURITIES | The fair value of securities and the related gross unrealized gains and losses recognized in accumulated other comprehensive income is as follows: | |||||||||||||||||||||||
Amortized | Gross | Gross | Fair Value | |||||||||||||||||||||
Cost | Unrealized | Unrealized | ||||||||||||||||||||||
Gains | Losses | |||||||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||||||
Certificates of deposit | $ | 86,049 | $ | — | $ | — | $ | 86,049 | ||||||||||||||||
Equity mutual fund | 500 | 9 | — | 509 | ||||||||||||||||||||
Mortgage-backed securities - residential | 23,433 | 1,218 | (40 | ) | 24,611 | |||||||||||||||||||
Collateralized mortgage obligations - residential | 9,936 | 53 | (13 | ) | 9,976 | |||||||||||||||||||
SBA-guaranteed loan participation certificates | 29 | — | — | 29 | ||||||||||||||||||||
$ | 119,947 | $ | 1,280 | $ | (53 | ) | $ | 121,174 | ||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||
Certificates of deposit | $ | 65,010 | $ | — | $ | — | $ | 65,010 | ||||||||||||||||
Municipal securities | 180 | 7 | — | 187 | ||||||||||||||||||||
Equity mutual fund | 500 | — | (3 | ) | 497 | |||||||||||||||||||
Mortgage-backed securities - residential | 27,229 | 1,295 | (160 | ) | 28,364 | |||||||||||||||||||
Collateralized mortgage obligations - residential | 16,851 | 35 | (72 | ) | 16,814 | |||||||||||||||||||
SBA-guaranteed loan participation certificates | 35 | — | — | 35 | ||||||||||||||||||||
$ | 109,805 | $ | 1,337 | $ | (235 | ) | $ | 110,907 | ||||||||||||||||
Mortgage-backed securities and collateralized mortgage obligations reflected in the preceding table were issued by U.S. government-sponsored entities and agencies, Freddie Mac, Fannie Mae and Ginnie Mae, and are obligations which the government has affirmed its commitment to support. All securities reflected in the preceding table were classified as available-for-sale at December 31, 2014 and 2013. | ||||||||||||||||||||||||
The amortized cost and fair values of securities at December 31, 2014 by contractual maturity are shown below. Securities not due at a single maturity date are shown separately. Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. | ||||||||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||||||
Amortized | Fair | |||||||||||||||||||||||
Cost | Value | |||||||||||||||||||||||
Due in one year or less | $ | 86,049 | $ | 86,049 | ||||||||||||||||||||
Equity mutual fund | 500 | 509 | ||||||||||||||||||||||
Mortgage-backed securities - residential | 23,433 | 24,611 | ||||||||||||||||||||||
Collateralized mortgage obligations - residential | 9,936 | 9,976 | ||||||||||||||||||||||
SBA-guaranteed loan participation certificates | 29 | 29 | ||||||||||||||||||||||
$ | 119,947 | $ | 121,174 | |||||||||||||||||||||
Investment securities available for sale with carrying amounts of $6.8 million and $8.0 million at December 31, 2014 and 2013, respectively, were pledged as collateral on customer repurchase agreements and for other purposes as required or permitted by law. | ||||||||||||||||||||||||
Sales of securities were as follows: | ||||||||||||||||||||||||
For the years ended December 31, | ||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
Proceeds | $ | 3,663 | $ | — | $ | — | ||||||||||||||||||
Gross gains | — | — | — | |||||||||||||||||||||
Gross losses | 7 | — | — | |||||||||||||||||||||
Securities with unrealized losses at December 31, 2014 and 2013 not recognized in income are as follows: | ||||||||||||||||||||||||
Less than 12 Months | 12 Months or More | Total | ||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||||||
Value | Loss | Value | Loss | Value | Loss | |||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||||||
Mortgage-backed securities - residential | $ | — | $ | — | $ | 2,126 | $ | (40 | ) | $ | 2,126 | $ | (40 | ) | ||||||||||
Collateralized mortgage obligations - residential | — | — | 1,847 | (13 | ) | 1,847 | (13 | ) | ||||||||||||||||
$ | — | $ | — | $ | 3,973 | $ | (53 | ) | $ | 3,973 | $ | (53 | ) | |||||||||||
December 31, 2013 | ||||||||||||||||||||||||
Equity mutual fund | $ | 497 | $ | (3 | ) | $ | — | $ | — | $ | 497 | $ | (3 | ) | ||||||||||
Mortgage-backed securities - residential | 2,806 | (160 | ) | — | — | 2,806 | (160 | ) | ||||||||||||||||
Collateralized mortgage obligations - residential | 11,233 | (72 | ) | — | — | 11,233 | (72 | ) | ||||||||||||||||
$ | 14,536 | $ | (235 | ) | $ | — | $ | — | $ | 14,536 | $ | (235 | ) | |||||||||||
The Company evaluates marketable investment securities with significant declines in fair value on a quarterly basis to determine whether they should be considered other-than-temporarily impaired under current accounting guidance, which generally provides that if a marketable security is in an unrealized loss position, whether due to general market conditions or industry or issuer-specific factors, the holder of the securities must assess whether the impairment is other-than-temporary. | ||||||||||||||||||||||||
Certain residential mortgage-backed securities and collateralized mortgage obligations that the Company holds in its investment portfolio were in an unrealized loss position at December 31, 2014, but the unrealized loss was not considered significant under the Company’s impairment testing methodology. In addition, the Company does not intend to sell these securities, and it is not likely that the Company will be required to sell the securities before their anticipated recovery occurs. |
Loans_Receivable_Notes
Loans Receivable (Notes) | 12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dec. 31, 2014 | Dec. 31, 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Receivables [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loans Receivable | Loans receivable are as follows: | Past Due Loans | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
The following tables present the aging of the recorded investment in past due loans at December 31, 2014 by class of loans: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
December 31, | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | 30-59 Days | 60-89 Days | 90 Days or | Total Past | Loans Not | Total | |||||||||||||||||||||||||||||||||||||||||||||||||
One-to-four family residential real estate | $ | 180,337 | $ | 201,382 | Past Due | Past Due | Greater | Due | Past Due | |||||||||||||||||||||||||||||||||||||||||||||||
Past Due | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Multi-family mortgage | 480,349 | 396,058 | One-to-four family residential real estate | $ | 1,415 | $ | 276 | $ | 3,844 | $ | 5,535 | $ | 126,054 | $ | 131,589 | |||||||||||||||||||||||||||||||||||||||||
Nonresidential real estate | 234,500 | 263,567 | One-to-four family residential real estate - non-owner occupied | 320 | 165 | 146 | 631 | 47,350 | 47,981 | |||||||||||||||||||||||||||||||||||||||||||||||
Construction and land | 1,885 | 6,570 | Multi-family mortgage | 2,314 | 1,187 | 3,363 | 6,864 | 334,173 | 341,037 | |||||||||||||||||||||||||||||||||||||||||||||||
Commercial loans | 66,882 | 54,255 | Wholesale commercial lending | — | — | — | — | 135,395 | 135,395 | |||||||||||||||||||||||||||||||||||||||||||||||
Commercial leases | 217,143 | 187,112 | Nonresidential real estate | 376 | 444 | 3,245 | 4,065 | 227,078 | 231,143 | |||||||||||||||||||||||||||||||||||||||||||||||
Consumer | 2,051 | 2,317 | Construction | — | — | — | — | 63 | 63 | |||||||||||||||||||||||||||||||||||||||||||||||
1,183,147 | 1,111,261 | Land | — | — | — | — | 1,814 | 1,814 | ||||||||||||||||||||||||||||||||||||||||||||||||
Net deferred loan origination costs | 1,199 | 970 | Commercial loans: | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for loan losses | (11,990 | ) | (14,154 | ) | Secured | — | — | 76 | 76 | 11,863 | 11,939 | |||||||||||||||||||||||||||||||||||||||||||||
Loans, net | $ | 1,172,356 | $ | 1,098,077 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Unsecured | — | 1 | — | 1 | 1,884 | 1,885 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Loan Origination/Risk Management. The Company has certain lending policies and procedures in place that are designed to maximize loan income within an acceptable level of risk. The Company reviews and approves these policies and procedures on a periodic basis. A reporting system supplements the review process by providing management with frequent reports related to loan production, loan quality, concentrations of credit, loan delinquencies and nonperforming and potential problem loans via trend and risk rating migration. The Company requires title insurance insuring the priority of our lien, fire and extended coverage casualty insurance, and, if appropriate, flood insurance, in order to protect our security interest in the underlying property. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The majority of the loans the Company originates are investment and business loans (multi-family, nonresidential real estate, commercial, construction and land loans, and commercial leases). In addition, we originate one-to-four family residential mortgage loans and consumer loans, and purchase and sell loan participations from time-to-time. The following briefly describes our principal loan products. | Municipal loans | — | — | — | — | 2,243 | 2,243 | |||||||||||||||||||||||||||||||||||||||||||||||||
The Company originates real estate loans principally secured by first liens on nonresidential real estate. The nonresidential real estate properties are predominantly office buildings, light industrial buildings, shopping centers and mixed-use developments and, to a lesser extent, more specialized properties such as nursing homes and other healthcare facilities. The Company may, from time to time, purchase commercial real estate loan participations. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Multi-family mortgage loans generally are secured by multi-family rental properties such as apartment buildings, including subsidized apartment units. In general, loan amounts range between $250,000 and $3.0 million. Approximately 22% of the collateral is located outside of our primary market area; however, we do not have a concentration in any single market outside of our primary market territory. In underwriting multi-family mortgage loans, the Company considers a number of factors, which include the projected net cash flow to the loan’s debt service requirement (generally requiring a minimum ratio of 120%), the age and condition of the collateral, the financial resources and income level of the borrower and the borrower’s experience in owning or managing similar properties and, proximity to diverse employment opportunities. Multi-family mortgage loans are generally originated in amounts up to 80% of the appraised value of the property securing the loan. Personal guarantees are usually obtained from multi-family mortgage borrowers. | Warehouse lines | — | — | — | — | 14,362 | 14,362 | |||||||||||||||||||||||||||||||||||||||||||||||||
Loans secured by multi-family mortgages generally involve a greater degree of credit risk than one- to four-family residential mortgage loans and carry larger loan balances. This increased credit risk is a result of several factors, including the concentration of principal in a limited number of loans and borrowers, the effects of general economic conditions on income producing properties, and the increased difficulty of evaluating and monitoring these types of loans. Furthermore, the repayment of loans secured by multi-family mortgages typically depends upon the successful operation of the related real estate property. If the cash flow from the project is reduced below acceptable thresholds, the borrower’s ability to repay the loan may be impaired. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The Company emphasizes nonresidential real estate loans with initial principal balances between $250,000 and $3.0 million. Substantially all of our nonresidential real estate loans are secured by properties located in our primary market area. The Company’s nonresidential real estate loans are generally written as three- or five-year adjustable-rate mortgages or mortgages with balloon maturities of three or five years. Amortization on these loans is typically based on 20- to 30-year schedules. The Company also originates some 15-year fixed-rate, fully amortizing loans. | Health care | — | — | — | — | 24,154 | 24,154 | |||||||||||||||||||||||||||||||||||||||||||||||||
In the underwriting of nonresidential real estate loans, the Company generally lends up to 80% of the property’s appraised value. Decisions to lend are based on the economic viability of the property as the primary source of repayment and the creditworthiness of the borrower. In evaluating a proposed commercial real estate loan, we emphasize the ratio of the property’s projected net cash flow to the loan’s debt service requirement (generally requiring a minimum ratio of 120%), computed after deduction for a vacancy factor and property expenses we deem appropriate. Personal guarantees are pursued and usually obtained from nonresidential real estate borrowers. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Nonresidential real estate loans generally carry higher interest rates and have shorter terms than those on one- to four-family residential mortgage loans. Nonresidential real estate loans, however, entail significant additional credit risks compared to one- to four-family residential mortgage loans, as they typically involve larger loan balances concentrated with single borrowers or groups of related borrowers. In addition, the payment of loans secured by income-producing properties typically depends on the successful operation of the related real estate project and thus may be subject to a greater extent to adverse conditions in the real estate market and in the general economy. | Aviation | — | — | — | — | 1,111 | 1,111 | |||||||||||||||||||||||||||||||||||||||||||||||||
The Company makes various types of secured and unsecured commercial loans to customers in our market area for the purpose of financing equipment acquisition, expansion, working capital and other general business purposes. The terms of these loans generally range from less than one year to five years. The loans are either negotiated on a fixed-rate basis or carry adjustable interest rates indexed to (i) a lending rate that is determined internally, or (ii) a short-term market rate index. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial credit decisions are based upon our credit assessment of the loan applicant. The Company determines the applicant’s ability to repay in accordance with the proposed terms of the loans and we assess the risks involved. An evaluation is made of the applicant to determine character and capacity to manage. Personal guarantees of the principals are pursued and usually obtained. In addition to evaluating the loan applicant’s financial statements, we consider the adequacy of the primary and secondary sources of repayment for the loan. Credit agency reports of the applicant’s credit history supplement our analysis of the applicant’s creditworthiness and at times are supplemented with inquiries to other banks and trade investigations. Moreover, assets listed on personal financial statements are verified. Collateral supporting a secured transaction also is analyzed to determine its marketability. Commercial business loans generally have higher interest rates than residential loans of like duration because they have a higher risk of default since their repayment generally depends on the successful operation of the borrower’s business and the sufficiency of any collateral. Pricing of commercial loans is based primarily on the credit risk of the borrower, with due consideration given to borrowers with appropriate deposit relationships. | Other | — | — | — | — | 11,339 | 11,339 | |||||||||||||||||||||||||||||||||||||||||||||||||
The Company also lends money to small and mid-size leasing companies for equipment financing leases. Generally, commercial leases are secured by an assignment by the leasing company of the lease payments and by a secured interest in the equipment being leased. In most cases, the lessee acknowledges our security interest in the leased equipment and agrees to send lease payments directly to us. Consequently, the Company underwrites lease loans by examining the creditworthiness of the lessee rather than the lessor. Lease loans generally are non-recourse to the leasing company. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The Company’s commercial leases are secured primarily by technology equipment, medical equipment, material handling equipment and other capital equipment. Lessees tend to be publicly-traded companies with investment-grade rated debt or companies that have not issued public debt and therefore do not have a public debt rating. The Company requires that a minimum of 50% of our commercial lessees have an investment grade public debt rating by Moody’s or Standard & Poors, or the equivalent. Commercial leases to these entities have a maximum maturity of seven years and a maximum outstanding credit exposure of $15.0 million to any single entity. If the lessee does not have a public debt rating, they are subject to the same internal credit analysis as any other customer. Typically, commercial leases to these lessees have a maximum maturity of five years and a maximum outstanding credit exposure of $5.0 million to any single entity. In addition, the Company will originate commercial leases to lessees with below-investment grade public debt ratings and have a maximum outstanding credit exposure of $3.0 million to any single entity. Lease loans are almost always fully amortizing, with fixed interest rates. | Commercial leases: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Although the Company does not actively originate construction and land loans presently, construction and land loans generally consist of land acquisition loans to help finance the purchase of land intended for further development, including single-family homes, multi-family housing and commercial income property, development loans to builders in our market area to finance improvements to real estate, consisting mostly of single-family subdivisions, typically to finance the cost of utilities, roads, sewers and other development costs. These builders generally rely on the sale of single-family homes to repay development loans, although in some cases the improved building lots may be sold to another builder, often in conjunction with development loans. Construction and land loans typically involve a higher degree of credit risk than financing on improved, owner-occupied real estate. The risk of loss on construction and land loans is largely dependent upon the accuracy of the initial appraisal of the property’s value upon completion of construction or development; the estimated cost of construction, including interest; and the estimated time to complete and/or sell or lease such property. The Company seeks to minimize these risks by maintaining consistent lending policies and underwriting standards. However, if the estimate of value proves to be inaccurate, the cost of completion is greater than expected, the length of time to complete and/or sell or lease the collateral property is greater than anticipated, or if there is a downturn in the local economy or real estate market, the property could have a value upon completion that is insufficient to assure full repayment of the loan. This could have a material adverse effect on the quality of the construction and land loan portfolio, and could result in significant losses or delinquencies. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The Company offers conforming and non-conforming, fixed-rate and adjustable-rate residential mortgage loans with maturities of up to 30 years and maximum loan amounts generally of up to $2.5 million. The Company currently offers fixed-rate conventional mortgage loans with terms of 10 to 30 years that are fully amortizing with monthly payments, and adjustable-rate conventional mortgage loans with initial terms of between one and five years that amortize up to 30 years. One- to four-family residential mortgage loans are generally underwritten according to Fannie Mae guidelines, and loans that conform to such guidelines are referred to as “conforming loans.” The Company generally originates both fixed- and adjustable-rate loans in amounts up to the maximum conforming loan limits as established by Fannie Mae, which is currently $417,000 for single-family homes. Private mortgage insurance is required for first mortgage loans with loan-to-value ratios in excess of 80%. | Investment rated commercial leases | 426 | — | — | 426 | 160,830 | 161,256 | |||||||||||||||||||||||||||||||||||||||||||||||||
The Company also originates loans above conforming limits, sometimes referred to as “jumbo loans,” that have been underwritten to the credit standards of Fannie Mae. These loans are generally eligible for sale to various firms that specialize in the purchase of such non-conforming loans. In the Chicago metropolitan area, larger residential loans are not uncommon. The Company also originates loans at higher rates that do not fully meet the credit standards of Fannie Mae but are deemed to be acceptable risks. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The primary markets served by the Company have seen gradually broadening signs of stability amid widespread economic weakness and high unemployment. The ability of the Company’s borrowers to repay their loans, and the value of the collateral securing such loans, could be adversely impacted by a return to economic weakness in its local markets as a result of unemployment, declining real estate values, or increased residential and office vacancies. This not only could result in the Company experiencing charge-offs and/or nonperforming assets, but also could necessitate an increase in the provision for loan losses. These events, if they were to recur, would have an adverse impact on the Company’s results of operations and its capital. | Below investment grade | 136 | — | — | 136 | 11,246 | 11,382 | |||||||||||||||||||||||||||||||||||||||||||||||||
The following tables present the balance in the allowance for loan losses and the loans receivable by portfolio segment and based on impairment method: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Non-rated | 8 | — | — | 8 | 35,672 | 35,680 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for loan losses | Loan Balances | Lease pools | — | — | — | — | 10,180 | 10,180 | ||||||||||||||||||||||||||||||||||||||||||||||||
Individually | Purchased impaired loans | Collectively | Total | Individually | Purchased | Collectively | Total | |||||||||||||||||||||||||||||||||||||||||||||||||
evaluated for | evaluated for | evaluated for | impaired | evaluated for | Consumer | 18 | 1 | 3 | 22 | 2,038 | 2,060 | |||||||||||||||||||||||||||||||||||||||||||||
impairment | impairment | impairment | loans | impairment | ||||||||||||||||||||||||||||||||||||||||||||||||||||
December 31, 2014 | Total | $ | 5,013 | $ | 2,074 | $ | 10,677 | $ | 17,764 | $ | 1,158,849 | $ | 1,176,613 | |||||||||||||||||||||||||||||||||||||||||||
One-to-four family residential real estate | $ | 8 | $ | — | $ | 2,140 | $ | 2,148 | $ | 4,122 | $ | 52 | $ | 176,163 | $ | 180,337 | ||||||||||||||||||||||||||||||||||||||||
Multi-family mortgage | 226 | — | 4,979 | 5,205 | 5,282 | — | 475,067 | 480,349 | ||||||||||||||||||||||||||||||||||||||||||||||||
Nonresidential real estate | 236 | — | 2,704 | 2,940 | 4,690 | — | 229,810 | 234,500 | 30-59 Days | 60-89 Days | 90 Days or | Total Past | Loans Not | Total | ||||||||||||||||||||||||||||||||||||||||||
Past Due | Past Due | Greater | Due | Past Due | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Construction and land | — | — | 80 | 80 | — | — | 1,885 | 1,885 | Past Due | |||||||||||||||||||||||||||||||||||||||||||||||
Purchased impaired loans | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial loans | — | — | 554 | 554 | 76 | — | 66,806 | 66,882 | One-to-four family residential real estate - non-owner occupied | $ | — | $ | — | $ | 52 | $ | 52 | $ | — | $ | 52 | |||||||||||||||||||||||||||||||||||
Commercial leases | — | — | 1,009 | 1,009 | — | — | 217,143 | 217,143 | Nonresidential real estate | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||
Consumer | — | — | 54 | 54 | — | — | 2,051 | 2,051 | Commercial loans – secured | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||
$ | 470 | $ | — | $ | 11,520 | $ | 11,990 | $ | 14,170 | $ | 52 | $ | 1,168,925 | 1,183,147 | $ | — | $ | — | $ | 52 | $ | 52 | $ | — | $ | 52 | ||||||||||||||||||||||||||||||
Net deferred loan origination costs | 1,199 | The following tables present the aging of the recorded investment in past due loans as December 31, 2013 by class of loans: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for loan losses | (11,990 | ) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loans, net | $ | 1,172,356 | 30-59 Days | 60-89 Days | Greater than | Total Past | Loans Not | Total | ||||||||||||||||||||||||||||||||||||||||||||||||
Past Due | Past Due | 90 Days Past | Due | Past Due | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Due | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
One-to-four family residential real estate | $ | 751 | $ | 424 | $ | 2,876 | $ | 4,051 | $ | 142,058 | $ | 146,109 | ||||||||||||||||||||||||||||||||||||||||||||
Allowance for loan losses | Loan Balances | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Individually | Purchased impaired loans | Collectively | Total | Individually | Purchase impaired loans | Collectively | Total | One-to-four family residential real estate - non-owner occupied | 905 | — | 960 | 1,865 | 52,676 | 54,541 | ||||||||||||||||||||||||||||||||||||||||||
evaluated | evaluated | evaluated | evaluated | |||||||||||||||||||||||||||||||||||||||||||||||||||||
for | for | for | for | Multi-family mortgage | 2,193 | 1,716 | 6,354 | 10,263 | 303,903 | 314,166 | ||||||||||||||||||||||||||||||||||||||||||||||
impairment | impairment | impairment | impairment | |||||||||||||||||||||||||||||||||||||||||||||||||||||
December 31, 2013 | Wholesale commercial lending | — | — | — | — | 78,531 | 78,531 | |||||||||||||||||||||||||||||||||||||||||||||||||
One-to-four family residential real estate | $ | 26 | $ | 5 | $ | 3,817 | $ | 3,848 | $ | 3,692 | $ | 100 | $ | 197,590 | $ | 201,382 | ||||||||||||||||||||||||||||||||||||||||
Nonresidential real estate | 4,432 | 1,363 | 3,969 | 9,764 | 249,194 | 258,958 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Multi-family mortgage | 255 | — | 4,189 | 4,444 | 7,031 | — | 389,027 | 396,058 | ||||||||||||||||||||||||||||||||||||||||||||||||
Construction | — | — | — | — | 2,486 | 2,486 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Nonresidential real estate | 77 | — | 3,658 | 3,735 | 4,381 | 1,633 | 257,553 | 263,567 | ||||||||||||||||||||||||||||||||||||||||||||||||
Land | — | — | 382 | 382 | 3,684 | 4,066 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Construction and land | 12 | — | 381 | 393 | 383 | — | 6,187 | 6,570 | ||||||||||||||||||||||||||||||||||||||||||||||||
Commercial loans: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial loans | — | — | 731 | 731 | — | 23 | 54,232 | 54,255 | ||||||||||||||||||||||||||||||||||||||||||||||||
Secured | 9 | — | — | 9 | 15,971 | 15,980 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial leases | — | — | 946 | 946 | — | — | 187,112 | 187,112 | ||||||||||||||||||||||||||||||||||||||||||||||||
Unsecured | 25 | — | — | 25 | 4,117 | 4,142 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Consumer | — | — | 57 | 57 | 77 | — | 2,240 | 2,317 | ||||||||||||||||||||||||||||||||||||||||||||||||
Municipal loans | — | — | — | — | 2,849 | 2,849 | ||||||||||||||||||||||||||||||||||||||||||||||||||
$ | 370 | $ | 5 | $ | 13,779 | $ | 14,154 | $ | 15,564 | $ | 1,756 | $ | 1,093,941 | 1,111,261 | ||||||||||||||||||||||||||||||||||||||||||
Warehouse lines | — | — | — | — | 1,927 | 1,927 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Net deferred loan origination costs | 970 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Health care | — | — | — | — | 19,381 | 19,381 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for loan losses | (14,154 | ) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loans, net | $ | 1,098,077 | Aviation | — | — | — | — | 1,102 | 1,102 | |||||||||||||||||||||||||||||||||||||||||||||||
Other | — | — | — | — | 9,006 | 9,006 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Activity in the allowance for loan losses is as follows: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial leases: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
For the years ended December 31, | Investment rated commercial leases | — | — | — | — | 147,374 | 147,374 | |||||||||||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Beginning balance | $ | 14,154 | $ | 18,035 | $ | 31,726 | Below investment grade | 8 | — | — | 8 | 14,739 | 14,747 | |||||||||||||||||||||||||||||||||||||||||||
Loans charged off: | Non-rated | — | — | — | — | 23,175 | 23,175 | |||||||||||||||||||||||||||||||||||||||||||||||||
One-to-four family residential real estate | (873 | ) | (1,505 | ) | (12,366 | ) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Multi-family mortgage | (1,230 | ) | (1,832 | ) | (7,203 | ) | Lease pools | — | — | — | — | 3,011 | 3,011 | |||||||||||||||||||||||||||||||||||||||||||
Nonresidential real estate | (1,727 | ) | (577 | ) | (18,167 | ) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Construction and land | (1 | ) | (943 | ) | (4,311 | ) | Consumer | 3 | 4 | 4 | 11 | 2,317 | 2,328 | |||||||||||||||||||||||||||||||||||||||||||
Commercial loans | (123 | ) | (425 | ) | (4,960 | ) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial leases | (8 | ) | — | (121 | ) | $ | 8,326 | $ | 3,507 | $ | 14,545 | $ | 26,378 | $ | 1,077,501 | $ | 1,103,879 | |||||||||||||||||||||||||||||||||||||||
Consumer | (12 | ) | (55 | ) | (103 | ) | ||||||||||||||||||||||||||||||||||||||||||||||||||
(3,974 | ) | (5,337 | ) | (47,231 | ) | |||||||||||||||||||||||||||||||||||||||||||||||||||
Recoveries: | 30-59 Days | 60-89 Days | 90 Days or | Total Past | Loans Not | Total | ||||||||||||||||||||||||||||||||||||||||||||||||||
One-to-four family residential real estate | 418 | 447 | 233 | Past Due | Past Due | Greater | Due | Past Due | ||||||||||||||||||||||||||||||||||||||||||||||||
Past Due | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Multi-family mortgage | 100 | 236 | 539 | Purchased impaired loans | ||||||||||||||||||||||||||||||||||||||||||||||||||||
One-to-four family residential real estate - non-owner occupied | $ | — | $ | — | $ | 100 | $ | 100 | $ | — | $ | 100 | ||||||||||||||||||||||||||||||||||||||||||||
Nonresidential real estate | 423 | 519 | 328 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Nonresidential real estate | — | — | 1,631 | 1,631 | — | 1,631 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Construction and land | 377 | 463 | 250 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial loans – secured | — | — | 23 | 23 | — | 23 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial loans | 1,225 | 470 | 626 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
$ | — | $ | — | $ | 1,754 | $ | 1,754 | $ | — | $ | 1,754 | |||||||||||||||||||||||||||||||||||||||||||||
Consumer | 3 | 8 | 42 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
2,546 | 2,143 | 2,018 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net charge-off | (1,428 | ) | (3,194 | ) | (45,213 | ) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Provision for (recovery of) loan losses | (736 | ) | (687 | ) | 31,522 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Ending balance | $ | 11,990 | $ | 14,154 | $ | 18,035 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Impaired loans | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Several of the following disclosures are presented by “recorded investment,” which the FASB defines as “the amount of the investment in a loan, which is not net of a valuation allowance, but which does reflect any direct write-down of the investment.” The following represents the components of recorded investment: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loan principal balance | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Less unapplied payments | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Plus negative unapplied balance | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Less escrow balance | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Plus negative escrow balance | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Plus unamortized net deferred loan costs | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Less unamortized net deferred loan fees | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Plus unamortized premium | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Less unamortized discount | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Less previous charge-offs | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Plus recorded accrued interest | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Less reserve for uncollected interest | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
#NAME? | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The following table presents loans individually evaluated for impairment by class loans, excluding purchased impaired loans: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loan | Recorded | Partial Charge-off | Allowance | Average | Interest | |||||||||||||||||||||||||||||||||||||||||||||||||||
Balance | Investment | for Loan | Investment | Income | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Losses | in Impaired | Recognized | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Allocated | Loans | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
With no related allowance recorded | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
One-to-four family residential real estate | $ | 3,246 | $ | 2,656 | $ | 649 | $ | — | $ | 2,777 | $ | 44 | ||||||||||||||||||||||||||||||||||||||||||||
One-to-four family residential real estate - non-owner occupied | 1,399 | 1,373 | 27 | — | 745 | 76 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Multi-family mortgage | 3,174 | 2,593 | 481 | — | 3,419 | 120 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Wholesale commercial lending | 519 | 513 | — | — | 401 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||
Nonresidential real estate | 2,118 | 2,068 | 6 | — | 4,175 | 72 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial loans - secured | 76 | 76 | — | — | 93 | 3 | ||||||||||||||||||||||||||||||||||||||||||||||||||
10,532 | 9,279 | 1,163 | — | 11,610 | 315 | |||||||||||||||||||||||||||||||||||||||||||||||||||
With an allowance recorded | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
One-to-four family residential real estate - non-owner occupied | 115 | 78 | 37 | 8 | 202 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||
Multi-family mortgage | 2,713 | 2,131 | 624 | 226 | 2,343 | 48 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Nonresidential real estate | 2,950 | 2,605 | 326 | 236 | 1,718 | 67 | ||||||||||||||||||||||||||||||||||||||||||||||||||
5,778 | 4,814 | 987 | 470 | 4,263 | 115 | |||||||||||||||||||||||||||||||||||||||||||||||||||
$ | 16,310 | $ | 14,093 | $ | 2,150 | $ | 470 | $ | 15,873 | $ | 430 | |||||||||||||||||||||||||||||||||||||||||||||
Loan | Recorded | Partial Charge-off | Allowance | Average | Interest | |||||||||||||||||||||||||||||||||||||||||||||||||||
Balance | Investment | for Loan | Investment | Income | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Losses | in Impaired | Recognized | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Allocated | Loans | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
With no related allowance recorded | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
One-to-four family residential real estate | $ | 3,656 | $ | 2,540 | $ | 1,102 | $ | — | $ | 3,693 | $ | 20 | ||||||||||||||||||||||||||||||||||||||||||||
One-to-four family residential real estate - non-owner occupied | 875 | 706 | 137 | — | 591 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||
Multi-family mortgage | 5,466 | 4,449 | 4 | — | 6,098 | 27 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Nonresidential real estate | 4,062 | 3,313 | 253 | — | 4,054 | 33 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Land loans | 274 | 263 | 8 | — | 169 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial loans - secured | 77 | 77 | — | — | 83 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||
14,410 | 11,348 | 1,504 | — | 14,688 | 80 | |||||||||||||||||||||||||||||||||||||||||||||||||||
With an allowance recorded | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
One-to-four family residential real estate - non-owner occupied | 490 | 438 | 38 | 26 | 393 | 2 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Multi-family mortgage | 3,144 | 2,541 | 573 | 255 | 2,998 | 125 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Nonresidential real estate | 1,343 | 1,048 | 255 | 77 | 2,148 | 15 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Land | 180 | 119 | 60 | 12 | 1,265 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||
5,157 | 4,146 | 926 | 370 | 6,804 | 142 | |||||||||||||||||||||||||||||||||||||||||||||||||||
$ | 19,567 | $ | 15,494 | $ | 2,430 | $ | 370 | $ | 21,492 | $ | 222 | |||||||||||||||||||||||||||||||||||||||||||||
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 is as follows: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
December 31, | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
One–to–four family residential real estate | $ | 52 | $ | 100 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Nonresidential real estate | — | 1,633 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial loans | — | 23 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Outstanding balance | $ | 52 | $ | 1,756 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Carrying amount, net of allowance | $ | 52 | $ | 1,751 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
(None at December 31, 2014, $5 at December 31, 2013) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accretable yield, or income expected to be collected, related to purchased impaired loans is as follows: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
For the years ended December 31, | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Beginning balance | $ | 37 | $ | 196 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Disposals | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reclassifications from nonaccretable difference | (1 | ) | 35 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Accretion of income | 36 | 194 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ending balance | $ | — | $ | 37 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
For the above purchased impaired loans, the Company decreased the allowance for loan losses by $5,000 for the year ended December 31, 2014 and decreased the allowance for loan losses by $105,000 for the year ended December 31, 2013. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
December 31, | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Contractually required payments receivable of loans purchased | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
One-to-four family residential real estate | $ | 82 | $ | 832 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Nonresidential real estate | — | 1,999 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial loans | — | 222 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
$ | 82 | $ | 3,053 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
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. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The Company’s reserve for uncollected loan interest was $464,000 and $1.3 million at December 31, 2014 and 2013, 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. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 $3.0 million of TDRs at December 31, 2014, compared to $3.3 million at December 31, 2013, with $38,000 and $53,000 in specific valuation reserves allocated at December 31, 2014 and 2013, respectively. The Company had no outstanding commitments to borrowers whose loans are classified as TDRs. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The following table presents loans classified as TDRs: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
December 31, | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
One-to-four family residential real estate | $ | 1,917 | $ | 2,093 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Multi-family mortgage | 510 | 518 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrual troubled debt restructured loans | 2,427 | 2,611 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
One-to-four family residential real estate | 230 | 342 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Multi-family mortgage | 346 | 384 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Nonaccrual troubled debt restructured loans | 576 | 726 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
$ | 3,003 | $ | 3,337 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
During the years ending December 31, 2014 and 2013, 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 TDRs that occurred during the year: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
For the years ended December 31, | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | 4 | $ | 485 | $ | 444 | 7 | $ | 1,249 | $ | 1,249 | ||||||||||||||||||||||||||||||||||||||||||||||
One-to-four family residential real estate - non-owner occupied | — | — | — | 1 | 71 | 46 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial loans - secured | 1 | 210 | 5 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||
5 | $ | 695 | $ | 449 | 8 | $ | 1,320 | $ | 1,295 | |||||||||||||||||||||||||||||||||||||||||||||||
Due to | Due to | Due to | Total | |||||||||||||||||||||||||||||||||||||||||||||||||||||
reduction in | extension of | permanent | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
interest rate | maturity date | reduction in | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
recorded | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
investment | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
For the year ended December 31, 2014 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
One-to-four family residential real estate | $ | 19 | $ | 373 | $ | 52 | $ | 444 | ||||||||||||||||||||||||||||||||||||||||||||||||
Commercial loans - secured | — | — | 5 | 5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
$ | 19 | $ | 373 | $ | 57 | $ | 449 | |||||||||||||||||||||||||||||||||||||||||||||||||
For the year ended December 31, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
One-to-four family residential real estate | $ | — | $ | 1,249 | $ | 46 | $ | 1,295 | ||||||||||||||||||||||||||||||||||||||||||||||||
The TDRs described above decreased interest income by $2,000, resulted in no change to the allowance for loan losses allocated and resulted in charge offs of $248,000 for the year ended December 31, 2014. The TDRs described above had no impact on interest income, resulted in no change to the allowance for loan losses and resulted in $25,000 charge offs during the year ended December 31, 2013. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The following table presents TDRs for which there was a payment default within twelve months following the modification: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
For the years ended December 31, | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number | Recorded | Number | Recorded | |||||||||||||||||||||||||||||||||||||||||||||||||||||
of loans | investment | of loans | investment | |||||||||||||||||||||||||||||||||||||||||||||||||||||
One-to-four family residential real estate | 2 | $ | 78 | — | $ | — | ||||||||||||||||||||||||||||||||||||||||||||||||||
A loan is considered to be in payment default once it is 90 days contractually past due under the modified terms. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The TDRs that subsequently defaulted described above had no material impact on the allowance for loans losses during the year ending December 31, 2014. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
The terms of certain other loans were modified during the year ending December 31, 2014 that did not meet the definition of a TDR. These loans have a total recorded investment of $1.0 million and $1.7 million at December 31, 2014 and 2013. 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. Loans categorized as substandard 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 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. The loans were placed on nonaccrual status. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loans not meeting the criteria above that are analyzed individually as part of the above described process are considered “Pass” rated loans. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
As of December 31, 2014, and based on the most recent analysis performed, the risk category of loans by class of loans is as follows: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | Special | Substandard | Nonaccrual | Total | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Mention | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
One-to-four family residential real estate | $ | 126,102 | $ | 615 | $ | 1,046 | $ | 4,228 | $ | 131,991 | ||||||||||||||||||||||||||||||||||||||||||||||
One-to-four family residential real estate - non-owner occupied | 46,253 | 931 | 964 | 198 | 48,346 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Multi-family mortgage | 336,557 | 609 | 3,430 | 4,515 | 345,111 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Wholesale commercial lending | 134,719 | — | 519 | — | 135,238 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Nonresidential real estate | 223,385 | 1,170 | 6,698 | 3,247 | 234,500 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Construction | 60 | — | — | — | 60 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Land | 1,212 | — | 613 | — | 1,825 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial loans: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Secured | 11,863 | — | 7 | 76 | 11,946 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Unsecured | 1,147 | 40 | 698 | — | 1,885 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Municipal loans | 2,213 | — | — | — | 2,213 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse lines | 11,296 | — | — | — | 11,296 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Health care | 24,127 | — | — | — | 24,127 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Aviation | 1,108 | — | — | — | 1,108 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Other | 14,307 | — | — | — | 14,307 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial leases: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment rated commercial leases | 160,208 | — | — | — | 160,208 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Below investment grade | 11,309 | — | — | — | 11,309 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Non-rated | 35,473 | — | — | — | 35,473 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Lease pools | 10,153 | — | — | — | 10,153 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Consumer | 2,048 | — | — | 3 | 2,051 | |||||||||||||||||||||||||||||||||||||||||||||||||||
$ | 1,153,540 | $ | 3,365 | $ | 13,975 | $ | 12,267 | $ | 1,183,147 | |||||||||||||||||||||||||||||||||||||||||||||||
As of December 31, 2013, and based on the most recent analysis performed, the risk category of loans by class of loans is as follows: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | Special | Substandard | Nonaccrual | Total | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Mention | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
One-to-four family residential real estate | $ | 140,716 | $ | 269 | $ | 1,941 | $ | 3,508 | $ | 146,434 | ||||||||||||||||||||||||||||||||||||||||||||||
One-to-four family residential real estate - non-owner occupied | 53,010 | — | 693 | 1,245 | 54,948 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Multi-family mortgage | 299,058 | 6,471 | 3,890 | 7,031 | 316,450 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Wholesale commercial lending | 75,741 | 2,694 | 1,173 | — | 79,608 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Nonresidential real estate | 237,751 | 6,306 | 13,645 | 5,865 | 263,567 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Construction | 2,484 | — | — | — | 2,484 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Land | 2,871 | — | 832 | 383 | 4,086 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial loans: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Secured | 15,824 | — | 78 | 100 | 16,002 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Unsecured | 3,173 | 67 | 899 | — | 4,139 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Municipal loans | 2,812 | — | — | — | 2,812 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse lines | 1,904 | — | — | — | 1,904 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Health care | 19,330 | — | — | — | 19,330 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Aviation | 1,100 | — | — | — | 1,100 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Other | 8,968 | — | — | — | 8,968 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial leases: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment rated commercial leases | 146,471 | — | — | — | 146,471 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Below investment grade | 14,626 | — | — | — | 14,626 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Non-rated | 22,805 | — | 210 | — | 23,015 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Lease pools | 3,000 | — | — | — | 3,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Consumer | 2,316 | — | 1 | — | 2,317 | |||||||||||||||||||||||||||||||||||||||||||||||||||
$ | 1,053,960 | $ | 15,807 | $ | 23,362 | $ | 18,132 | $ | 1,111,261 | |||||||||||||||||||||||||||||||||||||||||||||||
Secondary_Mortgage_Market_Acti
Secondary Mortgage Market Activities (Notes) | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Mortgage Banking [Abstract] | ||||||||
Secondary Mortgage Market Activities | First mortgage loans serviced for others are not included in the accompanying consolidated statements of financial condition. The unpaid principal balances of these loans were $148.3 million, and $164.6 million at December 31, 2014, and 2013, respectively. Custodial escrow balances maintained in connection with the foregoing loan servicing activities were $3.4 million, and $3.5 million at December 31, 2014, and 2013, respectively. | |||||||
Capitalized mortgage servicing rights are included in other assets in the accompanying consolidated statements of financial condition. Activity for capitalized mortgage servicing rights and the related valuation allowance was as follows. | ||||||||
December 31, | ||||||||
2014 | 2013 | |||||||
Servicing rights | ||||||||
Beginning of year | $ | 931 | $ | 1,090 | ||||
Additions | 38 | 74 | ||||||
Amortized to expense | (135 | ) | (233 | ) | ||||
End of year | $ | 834 | $ | 931 | ||||
Valuation allowance | ||||||||
Beginning of year | $ | 5 | $ | 70 | ||||
Additions expensed | 8 | — | ||||||
Reductions credited to expense | — | (65 | ) | |||||
End of year | $ | 13 | $ | 5 | ||||
Carrying value of mortgage servicing rights | $ | 821 | $ | 926 | ||||
Fair value of mortgage servicing rights | $ | 1,190 | $ | 1,279 | ||||
The estimated fair value of mortgage servicing rights is the present value of the expected future cash flows over the projected life of the loan. Assumptions used in the present value calculation are based on actual performance of the underlying servicing along with general market consensus. The expected cash flow is the net amount of all mortgage servicing income and expense items. The expected cash flows are discounted at an interest rate appropriate for the associated risk given the current market conditions. Significant assumptions are as follows: | ||||||||
December 31, | ||||||||
2014 | 2013 | |||||||
Prepayment speed | 13.69 | % | 14.22 | % | ||||
Discount rate | 12 | % | 12 | % | ||||
Average servicing cost per loan | $63.00 | $65.00 | ||||||
Escrow float rate | 1.83 | % | 1.67 | % | ||||
Key economic assumptions used in measuring the fair value of the Company’s mortgage servicing rights as of December 31, 2014 and the effect on the fair value of our mortgage servicing rights from adverse changes in those assumptions, are as follows: | ||||||||
Fair value of mortgage servicing rights | $ | 1,190 | ||||||
Weighted average annual prepayment speed | 13.69 | % | ||||||
Decrease in fair value from 10% adverse change | (25 | ) | ||||||
Decrease in fair value from 20% adverse change | (49 | ) | ||||||
Weighted-average annual discount rate | 12 | % | ||||||
Decrease in fair value from 10% adverse change | (44 | ) | ||||||
Decrease in fair value from 20% adverse change | (85 | ) | ||||||
These sensitivities are hypothetical and should be used with caution. As the above table indicates, changes in fair value based on variations in individual assumptions generally cannot be used to predict changes in fair value based upon further variations of the same assumptions. Also, the effect of a variation in a particular assumption on the fair value of the retained interest is calculated in the above table independently, without changing any other assumption. In reality, changes in one factor may result in changes in another factor, which might magnify or counteract the sensitivities. | ||||||||
The weighted average amortization period is 61 months. The estimated amortization expense for each of the next five years is as follows: | ||||||||
2015 | $ | 175 | ||||||
2016 | 127 | |||||||
2017 | 101 | |||||||
2018 | 82 | |||||||
2019 | 64 | |||||||
Premises_and_Equipment_Notes
Premises and Equipment (Notes) | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Property, Plant, Equipment And Leases [Abstract] | ||||||||
Premises and Equipment | Year end premises and equipment are as follows: | |||||||
December 31, | ||||||||
2014 | 2013 | |||||||
Land and land improvements | $ | 13,569 | $ | 13,600 | ||||
Buildings and improvements | 37,181 | 37,616 | ||||||
Furniture and equipment | 9,487 | 9,950 | ||||||
Computer equipment | 7,232 | 6,411 | ||||||
67,469 | 67,577 | |||||||
Accumulated depreciation | (33,183 | ) | (32,249 | ) | ||||
$ | 34,286 | $ | 35,328 | |||||
Depreciation of premises and equipment was $2.2 million, $2.9 million and $3.1 million for the years ended December 31, 2014, 2013 and 2012, respectively. | ||||||||
The Company leases certain branch facilities under non-cancelable operating lease agreements expiring in various years through 2032. Rent expense, net of sublease income, for facilities was $387,000, $476,000, and $444,000 in 2014, 2013, and 2012, respectively, excluding taxes, insurance, and maintenance. The projected minimum rental expense under existing leases, not including taxes, insurance, and maintenance, as of December 31, 2014 is as follows: | ||||||||
2015 | $ | 440 | ||||||
2016 | 445 | |||||||
2017 | 469 | |||||||
2018 | 479 | |||||||
2019 | 471 | |||||||
Thereafter | 5,166 | |||||||
$ | 7,470 | |||||||
The Company has subleased some of its branch facilities and currently is entitled to receive income as follows: | ||||||||
2015 | $ | 50 | ||||||
2016 | 43 | |||||||
2017 | 6 | |||||||
$ | 99 | |||||||
Goodwill_and_Core_Intangible_N
Goodwill and Core Intangible (Notes) | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ||||||||
Goodwill and Core Deposit Intangible | The following table presents the changes in the carrying amount of core deposit intangible, gross carrying amount, accumulated amortization, and net book value: | |||||||
December 31, | ||||||||
2014 | 2013 | |||||||
Balance at the beginning of the year | $ | 2,433 | $ | 3,038 | ||||
Amortization | (578 | ) | (605 | ) | ||||
Additions | — | — | ||||||
Net Carrying Value | $ | 1,855 | $ | 2,433 | ||||
Gross carrying amount | $ | 5,932 | $ | 5,932 | ||||
Accumulated amortization | (4,077 | ) | (3,499 | ) | ||||
Net Carrying Value | $ | 1,855 | $ | 2,433 | ||||
Aggregate amortization expense was $578,000, $605,000 and $633,000 for 2014, 2013 and 2012, respectively. | ||||||||
Estimated amortization expense for each of the next five years is as follows: | ||||||||
2015 | $ | 551 | ||||||
2016 | 523 | |||||||
2017 | 496 | |||||||
2018 | 184 | |||||||
2019 | 61 | |||||||
Deposits_Notes
Deposits (Notes) | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Deposits [Abstract] | ||||||||
Deposits | omposition of deposits are as follows: | |||||||
December 31, | ||||||||
2014 | 2013 | |||||||
Noninterest-bearing demand deposits | $ | 130,711 | $ | 126,680 | ||||
Savings deposits | 154,532 | 149,602 | ||||||
Money market accounts | 338,499 | 347,017 | ||||||
Interest-bearing NOW accounts | 355,112 | 353,787 | ||||||
Certificates of deposit | 232,859 | 275,622 | ||||||
$ | 1,211,713 | $ | 1,252,708 | |||||
Time deposits that meet or exceed the FDIC Insurance limit of $250,000 were $13.1 million and $19.6 million at December 31, 2014 and 2013, respectively. | ||||||||
Scheduled maturities of certificates of deposit for the next five years are as follows: | ||||||||
2015 | $ | 161,020 | ||||||
2016 | 53,095 | |||||||
2017 | 12,189 | |||||||
2018 | 3,183 | |||||||
2019 | 3,372 | |||||||
Borrowings_Notes
Borrowings (Notes) | 12 Months Ended | |||||||||||||
Dec. 31, 2014 | ||||||||||||||
Debt Disclosure [Abstract] | ||||||||||||||
Borrowings | Year-end borrowed funds are as follows: | |||||||||||||
December 31, | ||||||||||||||
2014 | 2013 | |||||||||||||
Contractual | Amount | Contractual | Amount | |||||||||||
Rate | Rate | |||||||||||||
Fixed-rate advance from FHLBC, due within 1 year | 0.13 | % | $ | 10,000 | — | % | $ | — | ||||||
Securities sold under agreements to repurchase | 0.25 | 2,921 | 0.25 | 3,055 | ||||||||||
0.16 | % | $ | 12,921 | 0.25 | % | $ | 3,055 | |||||||
The Company maintains a collateral pledge agreement covering secured advances whereby the Company has agreed to keep on hand, free of all other pledges, liens, and encumbrances, specifically identified whole first mortgages on improved residential property not more than 90-days delinquent to secure advances from the FHLBC. All of the Bank’s FHLBC common stock is pledged as additional collateral for these advances. At December 31, 2014, $104.0 million and $242.3 million of first mortgage and multi-family mortgage loans, respectively, collateralized potential advances. At December 31, 2014, we had the ability to borrow an additional $308.9 million under our credit facilities with the FHLBC. The Company also had available pre-approved overnight federal funds borrowing. At December 31, 2014 and 2013, there was no outstanding balance on these lines. | ||||||||||||||
Securities sold under agreements to repurchase were secured by mortgage-backed securities with a carrying amount of $6.8 million and $8.0 million at December 31, 2014 and 2013, respectively. |
Income_Taxes_Notes
Income Taxes (Notes) | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Income Tax Disclosure [Abstract] | ||||||||||||
Income Taxes | he income tax benefit is as follows: | |||||||||||
For the years ended December 31, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Current | $ | 363 | $ | — | $ | — | ||||||
Deferred benefit | 3,437 | (1,310 | ) | (11,206 | ) | |||||||
Deferred tax valuation allowance | (35,117 | ) | 1,310 | 11,206 | ||||||||
Total income tax benefit | $ | (31,317 | ) | $ | — | $ | — | |||||
A reconciliation of the provision for income taxes computed at the statutory federal corporate tax rate of 34% for 2014, 2013 and 2012 to the income tax benefit in the consolidated statements of operations follows: | ||||||||||||
For the years ended December 31, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Expense (benefit) computed at the statutory federal tax rate | $ | 3,161 | $ | 1,121 | $ | (9,217 | ) | |||||
State taxes and other, net | 664 | 92 | (1,757 | ) | ||||||||
Tax adjustments | — | (2,390 | ) | — | ||||||||
Bank owned life insurance | (80 | ) | (106 | ) | (149 | ) | ||||||
ESOP/Share based compensation | 55 | (27 | ) | (83 | ) | |||||||
Deferred tax valuation allowance | (35,117 | ) | 1,310 | 11,206 | ||||||||
$ | (31,317 | ) | $ | — | $ | — | ||||||
Effective income tax rate | N.M. | — | % | — | % | |||||||
N.M. Not Meaningful | ||||||||||||
Retained earnings at December 31, 2014 and 2013 include $14.9 million for which no deferred federal income tax liability has been recorded. This amount represents an allocation of income to bad debt deductions for tax purposes alone. | ||||||||||||
The net deferred tax asset is as follows: | ||||||||||||
December 31, | ||||||||||||
2014 | 2013 | |||||||||||
Gross Deferred tax assets | ||||||||||||
Allowance for loan losses | $ | 4,598 | $ | 5,567 | ||||||||
Alternative minimum tax, general business credit and net operating loss carryforwards | 28,842 | 30,311 | ||||||||||
Tax deductible goodwill and core deposit intangible | 2,091 | 2,448 | ||||||||||
Other | 1,703 | 2,167 | ||||||||||
37,234 | 40,493 | |||||||||||
Gross Deferred tax liabilities | ||||||||||||
Net deferred loan origination costs | (1,587 | ) | (1,426 | ) | ||||||||
Purchase accounting adjustments | (2,728 | ) | (2,552 | ) | ||||||||
Other | (805 | ) | (964 | ) | ||||||||
Unrealized gain on securities | (471 | ) | (434 | ) | ||||||||
(5,591 | ) | (5,376 | ) | |||||||||
Valuation allowance | — | (35,117 | ) | |||||||||
$ | 31,643 | $ | — | |||||||||
As of December 31, 2014, the Company’s net deferred tax asset (“DTA”) was $31.6 million. The Company previously established a full valuation allowance against the DTA effective December 31, 2011, based on the Company’s cumulative pre-tax operating losses for the previous three years and other factors, including then existing local and national economic conditions and the Company’s then elevated level of nonperforming assets and corresponding credit costs (i.e., charge-offs, loan loss provisions, non-performing asset and other real estate owned management expenses, and gains and losses on sales of other real estate owned and bulk loan sales). | ||||||||||||
A DTA valuation allowance is required under ASC 740 when the realization of a DTA is assessed and the assessment indicates that it is “more likely than not” (i.e. more than 50% likely) that all or a portion of the DTA will not be realized. All available evidence, both positive and negative must be considered to determine whether, based on the weight of that evidence, a valuation allowance against the net DTA is required. Objectively verifiable evidence is assigned greater weight than evidence that is not objectively verifiable. The valuation allowance is analyzed quarterly for changes affecting the DTA. | ||||||||||||
The Company reversed its DTA valuation allowance as of December 31, 2014 based on management’s determination that it is more likely than not that the Company will be able to utilize the entire DTA and that maintaining a valuation allowance for the DTA was no longer warranted under ASC 740. Accordingly, the valuation allowance for the DTA was reversed and the Company recorded an associated tax benefit of $35.1 million in 2014. | ||||||||||||
The recovery of the DTA valuation allowance was supported by numerous positive factors, including eight consecutive quarters of sustained pre-tax income, strengthened asset quality trends, the absence of other previously-existing negative factors, the length of the Company’s net operating loss carryforward periods and financial projections indicating that the DTA will be realized before the underlying tax attributes begin to expire. The Company’s ability to realize the DTA is dependent upon the generation of future taxable income during the periods in which the tax attributes underlying the DTA become deductible. The amount of the DTA that will ultimately be realized will be impacted by the Company’s future taxable income and any changes to the many variables that could impact future taxable income. | ||||||||||||
At December 31, 2014, the Company had a federal net operating loss carryforward of $55.9 million, which will begin to expire in 2029, a federal tax credit carryforward of $1.3 million which will begin to expire in 2022, a $2.6 million alternative minimum tax credit carryforward that can be carried forward indefinitely, and a $49.4 million federal alternative minimum tax net operating loss carryforward which will begin to expire in 2031. In addition, at December 31, 2014 the Company had a federal net operating loss carryforward relating to its acquisition of Downers Grove National Bank, which is subject to utilization limitations under Section 382 of the Internal Revenue Code, of $8.6 million which will begin to expire in 2030. At December 31, 2014, the Company had a state net operating loss carryforward for the State of Illinois of $93.6 million, which will begin to expire in 2022. | ||||||||||||
Unrecognized Tax Benefits | ||||||||||||
A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows: | ||||||||||||
December 31, | ||||||||||||
2014 | 2013 | |||||||||||
Beginning of year | $ | 65 | $ | 125 | ||||||||
Additions based on tax positions related to the current year | 63 | — | ||||||||||
Additions for tax positions of prior years | 1 | 2 | ||||||||||
Reductions due to the statute of limitations and reductions for tax positions of prior years | (50 | ) | (62 | ) | ||||||||
End of year | $ | 79 | $ | 65 | ||||||||
The Company does not expect the total amount of unrecognized tax benefits to significantly increase or decrease in the next twelve months. The Company recognizes interest and/or penalties related to income tax matters in income tax expense. At December 31, 2014 and 2013, the Company has immaterial amounts accrued for potential interest and penalties. | ||||||||||||
The Company and its subsidiary are subject to U.S. federal income tax as well as income tax of the States of Illinois, New Jersey, Colorado, Minnesota, Florida and Texas. The Company is no longer subject to examination by the federal taxing authorities for years before 2011 and the Illinois taxing authorities for years before 2011. |
Regulatory_Matters_Notes
Regulatory Matters (Notes) | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||
Banking and Thrift [Abstract] | |||||||||||||||||||||
Regulatory Capital Requirements under Banking Regulations [Text Block] | Actual and required capital amounts and ratios were: | ||||||||||||||||||||
Actual | Required for Capital Adequacy Purposes | To be Well-Capitalized under Prompt Corrective Action Provisions | |||||||||||||||||||
Amount | Ratio | Amount | Ratio | Amount | Ratio | ||||||||||||||||
December 31, 2014 | |||||||||||||||||||||
Total capital (to risk-weighted assets): | |||||||||||||||||||||
Consolidated | $ | 199,284 | 18.31 | % | $ | 87,084 | 8 | % | N/A | N/A | |||||||||||
BankFinancial, F.S.B. | 176,414 | 16.21 | 87,058 | 8 | $ | 108,822 | 10 | % | |||||||||||||
Tier 1 (core) capital (to risk-weighted assets): | |||||||||||||||||||||
Consolidated | 187,290 | 17.21 | 43,542 | 4 | N/A | N/A | |||||||||||||||
BankFinancial, F.S.B. | 164,420 | 15.11 | 43,529 | 4 | 65,293 | 6 | |||||||||||||||
Tier 1 (core) capital (to adjusted average total assets): | |||||||||||||||||||||
Consolidated | 187,290 | 13.04 | 57,363 | 4 | N/A | N/A | |||||||||||||||
BankFinancial, F.S.B. | 164,420 | 11.45 | 57,431 | 4 | 71,789 | 5 | |||||||||||||||
December 31, 2013 | |||||||||||||||||||||
Total capital (to risk-weighted assets): | |||||||||||||||||||||
Consolidated | $ | 186,251 | 17.28 | % | $ | 86,212 | 8 | % | N/A | N/A | |||||||||||
BankFinancial, F.S.B. | 160,839 | 14.93 | 86,192 | 8 | $ | 107,740 | 10 | % | |||||||||||||
Tier 1 (core) capital (to risk-weighted assets): | |||||||||||||||||||||
Consolidated | 172,775 | 16.03 | 43,106 | 4 | N/A | N/A | |||||||||||||||
BankFinancial, F.S.B. | 147,363 | 13.68 | 43,096 | 4 | 64,644 | 6 | |||||||||||||||
Tier 1 (core) capital (to adjusted average total assets): | |||||||||||||||||||||
Consolidated | 172,775 | 11.92 | 58,002 | 4 | N/A | N/A | |||||||||||||||
BankFinancial, F.S.B. | 147,363 | 10.16 | 57,992 | 4 | 72,490 | 5 | |||||||||||||||
A reconciliation of the Bank’s equity under GAAP to regulatory capital is as follows: | |||||||||||||||||||||
December 31, | |||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||
GAAP equity | $ | 192,182 | $ | 150,215 | |||||||||||||||||
Disallowed other intangible assets | (1,855 | ) | (2,433 | ) | |||||||||||||||||
Disallowed deferred tax asset | (25,150 | ) | — | ||||||||||||||||||
Accumulated other comprehensive income (unrealized gain on securities) | (757 | ) | (419 | ) | |||||||||||||||||
Tier 1 capital | 164,420 | 147,363 | |||||||||||||||||||
General regulatory loan loss reserves allowed | 11,990 | 13,476 | |||||||||||||||||||
Unrealized gains on securities available for sale allowed | 4 | — | |||||||||||||||||||
Total regulatory capital | $ | 176,414 | $ | 160,839 | |||||||||||||||||
As of December 31, 2014 and 2013, the OCC categorized the Bank as well–capitalized under the regulatory framework for prompt corrective action. There are no conditions or events since those notifications that management believes have changed the institution’s well–capitalized status. | |||||||||||||||||||||
The Company and the Bank have adopted Capital Plans that requires the Bank to maintain a Tier 1 leverage ratio of at least 8% and a total risk-based capital ratio of at least 12%. The minimum capital ratios set forth in the Capital Plans will be increased and other minimum capital requirements will be established if and as necessary to comply with the Basel III requirements as such requirements become applicable to the Company and the Bank. In accordance with the Capital Plans, neither the Company nor the Bank will pursue any acquisition or growth opportunity, declare any dividend or conduct any stock repurchase that would cause the Bank’s total risk-based capital ratio and/or its Tier 1 leverage ratio to fall below the established minimum capital levels. In addition, the Company will continue to maintain its ability to serve as a source of financial strength to the Bank by holding at least $5.0 million of cash or liquid assets for that purpose. At December 31, 2014 management believes the Company and the Bank's Basel III capital calculations exceed the requirements. | |||||||||||||||||||||
Federal regulations require the Bank to comply with a Qualified Thrift Lender (“QTL”) test, which generally requires that 65% of assets be maintained in housing-related finance and other specified assets. If the QTL test is not met, limits are placed on growth, branching, new investment, FHLBC advances, and dividends or the institution must convert to a commercial bank charter. Management considers the QTL test to have been met as of December 31, 2014. | |||||||||||||||||||||
The Bank is subject to regulatory restrictions on the amount of dividends it may declare and pay to the Company without prior regulatory approval, and to regulatory notification requirements for dividends that do not require prior regulatory approval. |
Employee_Benefit_Plans_Notes
Employee Benefit Plans (Notes) | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Compensation and Retirement Disclosure [Abstract] | ||||||||
Employee Benefit Plans | Employee Stock Ownership Plan. Employees are eligible to participate in the ESOP after attainment of age 21 and completion of one year of service. In connection with the conversion and reorganization, the ESOP borrowed $19.6 million from the Company, and used the proceeds of the loan to purchase 1,957,300 shares of common stock issued in the subscription offering at $10.00 per share. The loan is secured by the shares and will be repaid by the ESOP with funds from the Bank’s discretionary contributions to the ESOP and earnings on ESOP assets. The Bank has committed to make discretionary contributions to the ESOP sufficient to service the loan over a period not to exceed 20 years. When loan payments are made, ESOP shares are allocated to participants based on relative compensation and expense is recorded. Participants receive their earned shares at the end of employment. | |||||||
Contributions to the ESOP were $1.5 million for the years ended December 31, 2014 and 2013, including dividends and interest received on unallocated shares of $90,000 and $49,000 in 2014 and 2013, respectively. | ||||||||
Expense related to the ESOP, net of dividends and interest received on unallocated ESOP shares, was $1.1 million, $847,000 and $686,000 for the years ended December 31, 2014, 2013 and 2012, respectively. | ||||||||
Shares held by the ESOP were as follows: | ||||||||
December 31, | ||||||||
2014 | 2013 | |||||||
Allocated to participants | 929,718 | 831,853 | ||||||
Distributed to participants | (202,235 | ) | (139,584 | ) | ||||
Unearned | 1,027,582 | 1,125,447 | ||||||
Total ESOP shares | 1,755,065 | 1,817,716 | ||||||
Fair value of unearned shares | $ | 12,187 | $ | 10,309 | ||||
Profit Sharing Plan/401(k) Plan. The Company has a defined contribution plan (“profit sharing plan”) covering all of its eligible employees. Employees are eligible to participate in the profit sharing plan after attainment of age 21 and completion of one year of service. The Company provides a match of $0.50 on each $1.00 of contribution up to 6% of eligible compensation beginning April 1, 2007. The Company may also contribute an additional amount annually at the discretion of the Board of Directors. Contributions totaling $348,000, $346,000, and $384,000 were made for the years ended December 31, 2014, 2013 and 2012, respectively. |
Equity_Incentive_Plans_Notes
Equity Incentive Plans (Notes) | 12 Months Ended | ||||||||||||||
Dec. 31, 2014 | |||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||||||||||||||
Equity Incentive Plans | On June 27, 2006, the Company’s stockholders approved the BankFinancial Corporation 2006 Equity Incentive Plan, which authorized the Human Resources Committee of the Board of Directors of the Company to grant a variety of cash- and equity-based incentive awards, including stock options, stock appreciation rights, restricted stock, performance shares and other incentive awards, to employees and directors aggregating up to 3,425,275 shares of the Company’s common stock. | ||||||||||||||
The Human Resources Committee may grant stock options to purchase shares of the Company’s common stock to certain employees and directors of the Company. The exercise price for the stock options is the fair market value of the common stock on the dates of the grants. The stock options generally vest annually over three to five year periods; vesting is subject to acceleration in certain circumstances. The stock options will expire if not exercised within five years from the date of grant. There was no expense recorded for the years ended December 31, 2014, 2013 and 2012. As of December 31, 2014 and 2013, there were no stock options outstanding. There are 2,446,625 stock options available for grant at December 31, 2014. | |||||||||||||||
The Human Resources Committee of the Board of Directors may grant shares of restricted stock to certain employees and directors of the Company. The awards generally vest annually over varying periods from three to five years and vesting is subject to acceleration in certain circumstances. The cost of such awards will be accrued ratably as compensation expense over such respective periods based on expected vesting dates. The Company recognized $70,000, $86,000, and $41,000 of expenses relating to the grant of shares of restricted stock during the years ended December 31, 2014, 2013 and 2012, respectively. As of December 31, 2014, the total unrecognized compensation cost related to unvested shares of restricted stock was $80,000. The cost is expected to be recognized over a weighted average period of 5.2 months. There are 103,800 shares of restricted stock available for grant at December 31, 2014. | |||||||||||||||
Restricted Stock | Number of | Weighted Average Fair Value at | Weighted | Aggregate | |||||||||||
Shares (1) | Grant Date | Average | Intrinsic | ||||||||||||
Term to Vest | Value (2) | ||||||||||||||
(in years) | |||||||||||||||
Shares outstanding at January 1, 2013 | — | $ | — | — | $ | — | |||||||||
Shares granted | 29,000 | 8.14 | |||||||||||||
Shares vested | (3,250 | ) | — | ||||||||||||
Shares forfeited | — | — | |||||||||||||
Shares outstanding at December 31, 2013 | 25,750 | 8.14 | 1.2 | $ | 236 | ||||||||||
Shares granted | — | — | |||||||||||||
Shares vested | (8,928 | ) | — | ||||||||||||
Shares forfeited | — | — | |||||||||||||
Shares outstanding at December 31, 2014 | 16,822 | $ | 8.14 | 0.44 | $ | 199 | |||||||||
-1 | The end of period balances consist only of unvested shares. | ||||||||||||||
-2 | Restricted stock aggregate intrinsic value represents the number of shares of restricted stock multiplied by the market price of the common stock underlying the outstanding shares on the date shown. |
Loan_Commitments_and_Other_Off
Loan Commitments and Other Off-balance Sheet Activities (Notes) | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Commitments and Contingencies Disclosure [Abstract] | ||||||||
Loan Commitments and Other Off-Balance Sheet Activities | The Company is party to various financial instruments with off-balance-sheet risk. The Company uses these financial instruments in the normal course of business to meet the financing needs of customers and to effectively manage exposure to interest rate risk. These financial instruments include commitments to extend credit, standby letters of credit, unused lines of credit, and commitments to sell loans. When viewed in terms of the maximum exposure, those instruments may involve, to varying degrees, elements of credit and interest rate risk in excess of the amount recognized in the consolidated statements of financial condition. Credit risk is the possibility that a counterparty to a financial instrument will be unable to perform its contractual obligations. Interest rate risk is the possibility that, due to changes in economic conditions, the Company’s net interest income will be adversely affected. | |||||||
The following is a summary of the contractual or notional amount of each significant class of off-balance-sheet financial instruments outstanding. The Company’s exposure to credit loss in the event of nonperformance by the counterparty for commitments to extend credit, standby letters of credit, and unused lines of credit is represented by the contractual notional amount of these instruments. | ||||||||
The contractual or notional amounts are as follows: | ||||||||
December 31, | ||||||||
2014 | 2013 | |||||||
Financial instruments wherein contractual amounts represent credit risk | ||||||||
Commitments to extend credit | $ | 30,477 | $ | 29,253 | ||||
Standby letters of credit | 472 | 922 | ||||||
Unused lines of credit | 109,580 | 118,167 | ||||||
Commitments to sell mortgages | — | 222 | ||||||
Commitments to extend credit are generally made for periods of 60 days or less. The fixed-rate loans commitment totaled $20.2 million with interest rates ranging from 2.00% to 4.96% and maturities ranging from 2 to 30 years. | ||||||||
Since many of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. The Company evaluates each customer’s creditworthiness on a case-by-case basis. The amount of collateral obtained, if it is deemed necessary by the Company upon extension of credit, is based on management’s credit evaluation of the customers. | ||||||||
The Bank, as a member of Visa USA, received 51,404 unrestricted shares of Visa, Inc. Class B common stock in connection with Visa, Inc.’s initial public offering in 2007, and 32,398 additional shares of Class B common stock that were deposited into a litigation escrow that Visa, Inc. established under its retrospective responsibility plan. The retroactive responsibility plan obligates all former Visa USA members to indemnify Visa USA, in proportion to their equity interests in Visa USA, for certain litigation losses and expenses, including settlement expenses, for the lawsuits covered by the retrospective responsibility plan. The primary method for discharging the indemnification obligations under the retrospective responsibility plan is a reduction of the ratio at which the Visa, Inc. Class B shares held in the litigation escrow can be converted into publicly traded Class A common shares of Visa, Inc. Due to the restrictions that the retrospective responsibility plan imposes on the Company’s Visa, Inc. Class B shares, the Company has not recorded the Class B shares as an asset. |
Fair_Value_Notes
Fair Value (Notes) | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||
Fair Value Disclosures [Abstract] | ||||||||||||||||||||
Fair Value | Fair value is the exchange price that would be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. There are three levels of inputs that may be used to measure fair values: | |||||||||||||||||||
• | Level 1 – Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date. | |||||||||||||||||||
• | Level 2 – Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. | |||||||||||||||||||
• | Level 3 – Significant unobservable inputs that reflect a company’s own assumptions about the assumptions that market participants would use in pricing an asset or liability. | |||||||||||||||||||
The Company used the following methods and significant assumptions to estimate the fair value of each type of financial instrument: | ||||||||||||||||||||
Securities: The fair values of marketable equity securities are generally determined by quoted prices, in active markets, for each specific security (Level 1). If Level 1 measurement inputs are not available for a marketable equity security, we determine its fair value based on the quoted price of a similar security traded in an active market (Level 2). The fair values of debt securities are generally determined by matrix pricing, which is a mathematical technique widely used in the industry to value debt securities without relying exclusively on quoted prices for the specific securities, but rather by relying on the securities’ relationship to other benchmark quoted securities (Level 2). | ||||||||||||||||||||
Loans held-for-sale: Loans held-for-sale are carried at the lower of cost or fair value, which is evaluated on a pool-level basis. The fair value of loans held-for-sale is determined using quoted prices for similar assets, adjusted for specific attributes of that loan or other observable market data, such as outstanding commitments from third party investors (Level 2). | ||||||||||||||||||||
Impaired Loans: The fair value of impaired loans with specific allocations of the allowance for loan losses is generally based on recent real estate appraisals. These appraisals may utilize a single valuation approach or a combination of approaches including comparable sales and the income approach. Adjustments are routinely made in the appraisal process by the independent appraisers to adjust for differences between the comparable sales and income data available for similar loans and collateral underlying such loans. Non-real estate collateral may be valued using an appraisal, net book value per the borrower’s financial statements, or aging reports, adjusted or discounted based on management’s historical knowledge, changes in market conditions from the time of the valuation, and management’s expertise and knowledge of the client and client’s business, resulting in a Level 3 fair value classification. Impaired loans are evaluated on a quarterly basis for additional impairment and adjusted in accordance with the allowance policy. | ||||||||||||||||||||
Other Real Estate Owned: Assets acquired through or instead of loan foreclosure are initially recorded at fair value less costs to sell when acquired, establishing a new cost basis. These assets are subsequently accounted for at lower of cost or fair value less estimated costs to sell. Fair value is commonly based on recent real estate appraisals which are updated no less frequently than annually. These appraisals may utilize a single valuation approach or a combination of approaches including comparable sales and the income approach with data from comparable properties. Adjustments are routinely made in the appraisal process by the independent appraisers to adjust for differences between the comparable sales and income data available. Real estate owned properties are evaluated on a quarterly basis for additional impairment and adjusted accordingly. | ||||||||||||||||||||
Mortgage Servicing Rights: On a quarterly basis, loan servicing rights are evaluated for impairment based upon the fair value of the rights as compared to carrying amount. The fair values of mortgage servicing rights are based on a valuation model that calculates the present value of estimated net servicing income. The valuation model incorporates assumptions that market participants would use in estimating future net servicing income. The Company is able to compare the valuation model inputs and results to widely available published industry data for reasonableness (Level 2). | ||||||||||||||||||||
The following table sets forth the Company’s financial assets that were accounted for at fair value and are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. | ||||||||||||||||||||
Fair Value Measurements Using | ||||||||||||||||||||
Quoted | Significant | Significant | Fair Value | |||||||||||||||||
Prices in | Observable | Unobservable | ||||||||||||||||||
Active | Inputs | Inputs | ||||||||||||||||||
Markets for | (Level 2) | (Level 3) | ||||||||||||||||||
Identical | ||||||||||||||||||||
Assets | ||||||||||||||||||||
(Level 1) | ||||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||
Securities: | ||||||||||||||||||||
Certificates of deposit | $ | — | $ | 86,049 | $ | — | $ | 86,049 | ||||||||||||
Equity mutual fund | 509 | — | — | 509 | ||||||||||||||||
Mortgage-backed securities – residential | — | 24,611 | — | 24,611 | ||||||||||||||||
Collateralized mortgage obligations – residential | — | 9,976 | — | 9,976 | ||||||||||||||||
SBA-guaranteed loan participation certificates | — | 29 | — | 29 | ||||||||||||||||
$ | 509 | $ | 120,665 | $ | — | $ | 121,174 | |||||||||||||
December 31, 2013 | ||||||||||||||||||||
Securities: | ||||||||||||||||||||
Certificates of deposit | $ | — | $ | 65,010 | $ | — | $ | 65,010 | ||||||||||||
Municipal securities | — | 187 | — | 187 | ||||||||||||||||
Equity mutual fund | 497 | — | — | 497 | ||||||||||||||||
Mortgage-backed securities - residential | — | 28,364 | — | 28,364 | ||||||||||||||||
Collateralized mortgage obligations – residential | — | 16,814 | — | 16,814 | ||||||||||||||||
SBA-guaranteed loan participation certificates | — | 35 | — | 35 | ||||||||||||||||
$ | 497 | $ | 110,410 | $ | — | $ | 110,907 | |||||||||||||
The following table sets forth the Company’s assets that were measured at fair value on a non-recurring basis: | ||||||||||||||||||||
Fair Value Measurement Using | ||||||||||||||||||||
Quoted Prices in | Significant | Significant | Fair | |||||||||||||||||
Active Markets | Observable | Unobservable | Value | |||||||||||||||||
for Identical | Inputs | Inputs | ||||||||||||||||||
Assets | (Level 2) | (Level 3) | ||||||||||||||||||
(Level 1) | ||||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||
Impaired loans: | ||||||||||||||||||||
One–to–four family residential real estate | $ | — | $ | — | $ | 70 | $ | 70 | ||||||||||||
Multi-family mortgage | — | — | 1,905 | 1,905 | ||||||||||||||||
Nonresidential real estate | — | — | 2,369 | 2,369 | ||||||||||||||||
Impaired loans | $ | — | $ | — | $ | 4,344 | $ | 4,344 | ||||||||||||
Other real estate owned: | ||||||||||||||||||||
One–to–four family residential real estate | $ | — | $ | — | $ | 55 | $ | 55 | ||||||||||||
Multi-family mortgage | — | — | 1,265 | 1,265 | ||||||||||||||||
Nonresidential real estate | — | — | 126 | 126 | ||||||||||||||||
Land | — | — | 753 | 753 | ||||||||||||||||
Other real estate owned | $ | — | $ | — | $ | 2,199 | $ | 2,199 | ||||||||||||
Mortgage servicing rights | $ | — | $ | 160 | $ | — | $ | 160 | ||||||||||||
December 31, 2013 | ||||||||||||||||||||
Impaired loans: | ||||||||||||||||||||
One–to–four family residential real estate | $ | — | $ | — | $ | 460 | $ | 460 | ||||||||||||
Multi-family mortgage | — | — | 2,286 | 2,286 | ||||||||||||||||
Nonresidential real estate | — | — | 971 | 971 | ||||||||||||||||
Construction and land | — | — | 107 | 107 | ||||||||||||||||
Impaired loans | $ | — | $ | — | $ | 3,824 | $ | 3,824 | ||||||||||||
Other real estate owned: | ||||||||||||||||||||
One–to–four family residential real estate | $ | — | $ | — | $ | 297 | $ | 297 | ||||||||||||
Nonresidential real estate | — | — | 460 | 460 | ||||||||||||||||
Land | — | — | 1,019 | 1,019 | ||||||||||||||||
Other real estate owned | $ | — | $ | — | $ | 1,776 | $ | 1,776 | ||||||||||||
Mortgage servicing rights | $ | — | $ | 198 | $ | — | $ | 198 | ||||||||||||
Impaired loans, which are measured for impairment using the fair value of the collateral for collateral–dependent loans, had a carrying amount of $4.8 million, with a valuation allowance of $470,000 at December 31, 2014, compared to a carrying amount of $4.2 million and a valuation allowance of $375,000 at December 31, 2013, resulting in a increase in the provision for loan losses of $95,000 for the year ended December 31, 2014. | ||||||||||||||||||||
OREO is carried at the lower of cost or fair value less costs to sell, had a carrying value of $3.1 million less a valuation allowance of $896,000, or $2.2 million, at December 31, 2014, compared to $2.7 million less a valuation allowance of $902,000, or $1.8 million at December 31, 2013. There were $438,000 of valuation adjustments of other real estate owned recorded for the year ended December 31, 2014. | ||||||||||||||||||||
Mortgage servicing rights, which are carried at lower of cost or fair value, had a carrying amount of $160,000 at December 31, 2014, and $198,000 at December 31, 2013. A pre–tax impairment of $8,000 on our mortgage servicing rights portfolio was included in noninterest income for the year ended December 31, 2014, compared to a $65,000 recovery for the same period in 2013. | ||||||||||||||||||||
The following table presents quantitative information, based on certain empirical data with respect to Level 3 fair value measurements for financial instruments measured at fair value on a non-recurring basis at December 31, 2014: | ||||||||||||||||||||
Fair Value | Valuation | Unobservable | Range | |||||||||||||||||
Technique | Input | (Weighted | ||||||||||||||||||
Average) | ||||||||||||||||||||
Impaired loans | ||||||||||||||||||||
One-to-four family residential real estate | $ | 70 | Sales comparison | Discount applied to valuation | 4.80% | |||||||||||||||
Multi-family mortgage | 1,905 | Sales comparison | Comparison between sales and income approaches | -0.458 | ||||||||||||||||
-41% | ||||||||||||||||||||
Income approach | Cap Rate | 9.6% to 13.8% | ||||||||||||||||||
-10% | ||||||||||||||||||||
Nonresidential real estate | 2,369 | Sales comparison | Comparison between sales and income approaches | -0.36 | ||||||||||||||||
-24% | ||||||||||||||||||||
Income approach | Cap Rate | 10%-11% | ||||||||||||||||||
-10% | ||||||||||||||||||||
$ | 4,344 | |||||||||||||||||||
Other real estate owned | ||||||||||||||||||||
One-to-four family residential real estate | $ | 55 | Sales comparison | Discount applied to valuation | 6.3%-7.7% | |||||||||||||||
-7% | ||||||||||||||||||||
Multi-family mortgage | 1,265 | Sales comparison | Comparison between sales and income approaches | -0.201 | ||||||||||||||||
-0.40% | ||||||||||||||||||||
Nonresidential real estate | 126 | Sales comparison | Comparison between sales and income approaches | 32.30% | ||||||||||||||||
Land | 753 | Sales comparison | Discount applied to valuation | -0.261 | ||||||||||||||||
(-10%) | ||||||||||||||||||||
$ | 2,199 | |||||||||||||||||||
The following table presents quantitative information, based on certain empirical data with respect to Level 3 fair value measurements for financial instruments measured at fair value on a non-recurring basis at December 31, 2013: | ||||||||||||||||||||
Fair Value | Valuation | Unobservable | Range | |||||||||||||||||
Technique | Input | (Weighted | ||||||||||||||||||
Average) | ||||||||||||||||||||
Impaired loans | ||||||||||||||||||||
One-to-four family residential real estate | $ | 460 | Sales comparison | Discount applied to valuation | 7.5%-12.8% | |||||||||||||||
-10% | ||||||||||||||||||||
Multi-family mortgage | 2,286 | Sales comparison | Comparison between sales and income approaches | 12.3%-19.4% | ||||||||||||||||
-17% | ||||||||||||||||||||
Income approach | Cap Rate | 7.25% to 13.8% | ||||||||||||||||||
-9% | ||||||||||||||||||||
Nonresidential real estate | 971 | Sales comparison | Comparison between sales and income approaches | -0.481 | ||||||||||||||||
-11% | ||||||||||||||||||||
Income approach | Cap Rate | 10%-10.7% | ||||||||||||||||||
-10% | ||||||||||||||||||||
Construction and land | 107 | Sales comparison | Discount applied to valuation | 21.20% | ||||||||||||||||
$ | 3,824 | |||||||||||||||||||
Other real estate owned | ||||||||||||||||||||
One-to-four family residential real estate | $ | 297 | Sales comparison | Discount applied to valuation | 5.0%-9.4% | |||||||||||||||
-8% | ||||||||||||||||||||
Nonresidential real estate | 460 | Sales comparison | Comparison between sales and income approaches | 0%-10.1% | ||||||||||||||||
-7% | ||||||||||||||||||||
Land | 1,019 | Sales comparison | Discount applied to valuation | 0%-10.2% | ||||||||||||||||
-2% | ||||||||||||||||||||
$ | 1,776 | |||||||||||||||||||
The carrying amount and estimated fair value of financial instruments is as follows: | ||||||||||||||||||||
Fair Value Measurements at | ||||||||||||||||||||
December 31, 2014 Using: | ||||||||||||||||||||
Carrying | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||
Amount | ||||||||||||||||||||
Financial assets | ||||||||||||||||||||
Cash and cash equivalents | $ | 59,581 | $ | 9,693 | $ | 49,888 | $ | — | $ | 59,581 | ||||||||||
Securities | 121,174 | 509 | 120,665 | — | 121,174 | |||||||||||||||
Loans receivable, net of allowance for loan losses | 1,172,356 | — | 1,166,181 | 4,344 | 1,170,525 | |||||||||||||||
FHLBC stock | 6,257 | — | — | — | N/A | |||||||||||||||
Accrued interest receivable | 3,926 | — | 3,926 | — | 3,926 | |||||||||||||||
Financial liabilities | ||||||||||||||||||||
Noninterest-bearing demand deposits | $ | 130,711 | $ | — | $ | 130,711 | $ | — | $ | 130,711 | ||||||||||
Savings deposits | 154,532 | — | 154,532 | — | 154,532 | |||||||||||||||
NOW and money market accounts | 693,611 | — | 693,611 | — | 693,611 | |||||||||||||||
Certificates of deposit | 232,859 | — | 232,588 | — | 232,588 | |||||||||||||||
Borrowings | 12,921 | — | 12,908 | — | 12,908 | |||||||||||||||
Accrued interest payable | 89 | — | 89 | — | 89 | |||||||||||||||
Fair Value Measurements at | ||||||||||||||||||||
December 31, 2013 Using: | ||||||||||||||||||||
Carrying | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||
Amount | ||||||||||||||||||||
Financial assets | ||||||||||||||||||||
Cash and cash equivalents | $ | 160,957 | $ | 15,781 | $ | 145,176 | $ | — | $ | 160,957 | ||||||||||
Securities | 110,907 | 497 | 110,410 | — | 110,907 | |||||||||||||||
Loans receivable, net of allowance for loan losses | 1,098,077 | — | 1,049,111 | 3,824 | 1,052,935 | |||||||||||||||
FHLBC stock | 6,068 | — | — | — | N/A | |||||||||||||||
Accrued interest receivable | 3,933 | — | 3,933 | — | 3,933 | |||||||||||||||
Financial liabilities | ||||||||||||||||||||
Noninterest-bearing demand deposits | $ | 126,680 | $ | — | $ | 126,680 | $ | — | $ | 126,680 | ||||||||||
Savings deposits | 149,602 | — | 149,602 | — | 149,602 | |||||||||||||||
NOW and money market accounts | 700,804 | — | 700,804 | — | 700,804 | |||||||||||||||
Certificates of deposit | 275,622 | — | 276,022 | — | 276,022 | |||||||||||||||
Borrowings | 3,055 | — | 3,057 | — | 3,057 | |||||||||||||||
Accrued interest payable | 113 | — | 113 | — | 113 | |||||||||||||||
For purposes of the above, the following assumptions were used: | ||||||||||||||||||||
Cash and Cash Equivalents: The estimated fair values for cash and cash equivalents are based on their carrying value due to the short-term nature of these assets. | ||||||||||||||||||||
Loans: The estimated fair value for loans has been determined by calculating the present value of future cash flows based on the current rate the Company would charge for similar loans with similar maturities, applied for an estimated time period until the loan is assumed to be repriced or repaid. The estimated fair values of loans held-for-sale are based on outstanding commitments from third party investors. | ||||||||||||||||||||
FHLBC Stock: It is not practicable to determine the fair value of FHLBC stock due to the restrictions placed on its transferability. | ||||||||||||||||||||
Deposit Liabilities: The estimated fair value for certificates of deposit has been determined by calculating the present value of future cash flows based on estimates of rates the Company would pay on such deposits, applied for the time period until maturity. The estimated fair values of noninterest-bearing demand, NOW, money market, and savings deposits are assumed to approximate their carrying values as management establishes rates on these deposits at a level that approximates the local market area. Additionally, these deposits can be withdrawn on demand. | ||||||||||||||||||||
Borrowings: The estimated fair values of advances from the FHLBC and notes payable are based on current market rates for similar financing. The estimated fair value of securities sold under agreements to repurchase is assumed to equal its carrying value due to the short-term nature of the liability. | ||||||||||||||||||||
Accrued Interest: The estimated fair values of accrued interest receivable and payable are assumed to equal their carrying value. | ||||||||||||||||||||
Off-Balance-Sheet Instruments: Off-balance-sheet items consist principally of unfunded loan commitments, standby letters of credit, and unused lines of credit. The estimated fair values of unfunded loan commitments, standby letters of credit, and unused lines of credit are not material. | ||||||||||||||||||||
While the above estimates are based on management’s judgment of the most appropriate factors, as of the balance sheet date, there is no assurance that the estimated fair values would have been realized if the assets were disposed of or the liabilities settled at that date, since market values may differ depending on the various circumstances. The estimated fair values would also not apply to subsequent dates. | ||||||||||||||||||||
In addition, other assets and liabilities that are not financial instruments, such as premises and equipment, are not included in the above disclosures. |
Company_Only_Condensed_Financi
Company Only Condensed Financial Information (Notes) | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | ||||||||||||
Company Only Condensed Financial Information | Condensed financial information of BankFinancial Corporation as of December 31, 2014 and 2013 and for the three years ended December 31, 2014 follows: | |||||||||||
Condensed Statements of Financial Condition | ||||||||||||
December 31, | ||||||||||||
2014 | 2013 | |||||||||||
Assets | ||||||||||||
Cash in subsidiary | $ | 9,724 | $ | 11,441 | ||||||||
Loan receivable from ESOP | 12,791 | 13,742 | ||||||||||
Investment in subsidiary | 192,182 | 150,215 | ||||||||||
Deferred tax asset | 1,082 | — | ||||||||||
Other assets | 342 | 252 | ||||||||||
$ | 216,121 | $ | 175,650 | |||||||||
Liabilities and Stockholders' Equity | ||||||||||||
Accrued expenses and other liabilities | $ | — | $ | 23 | ||||||||
Total stockholders’ equity | 216,121 | 175,627 | ||||||||||
$ | 216,121 | $ | 175,650 | |||||||||
Condensed Statements of Operations | ||||||||||||
For the years ended December 31, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Interest income | $ | 584 | $ | 623 | $ | 662 | ||||||
Other income | — | — | 57 | |||||||||
Other expense | 1,451 | 1,473 | 1,422 | |||||||||
Loss before income tax and undistributed subsidiary income | (867 | ) | (850 | ) | (703 | ) | ||||||
Income tax benefit | (1,082 | ) | — | — | ||||||||
Income (loss) before equity in undistributed subsidiary income | 215 | (850 | ) | (703 | ) | |||||||
Equity in undistributed subsidiary excess distributions | 40,399 | 4,148 | (26,406 | ) | ||||||||
Net income (loss) | $ | 40,614 | $ | 3,298 | $ | (27,109 | ) | |||||
Condensed Statements of Cash Flows | ||||||||||||
For the years ended December 31, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Cash flows from operating activities | ||||||||||||
Net income (loss) | $ | 40,614 | $ | 3,298 | $ | (27,109 | ) | |||||
Adjustments: | ||||||||||||
Equity in undistributed subsidiary excess distributions | (40,399 | ) | (4,148 | ) | 26,406 | |||||||
Change in other assets | (1,172 | ) | 373 | 1,143 | ||||||||
Change in accrued expenses and other liabilities | (23 | ) | 2 | (780 | ) | |||||||
Net cash used in operating activities | (980 | ) | (475 | ) | (340 | ) | ||||||
Cash flows from investing activities | ||||||||||||
Principal payments received on ESOP loan | 951 | 912 | 873 | |||||||||
Net cash from investing activities | 951 | 912 | 873 | |||||||||
Cash flows from financing activities | ||||||||||||
Cash dividends paid on common stock | (1,688 | ) | (844 | ) | (633 | ) | ||||||
Net cash used in financing activities | (1,688 | ) | (844 | ) | (633 | ) | ||||||
Net change in cash in subsidiary | (1,717 | ) | (407 | ) | (100 | ) | ||||||
Beginning cash in subsidiary | 11,441 | 11,848 | 11,948 | |||||||||
Ending cash in subsidiary | $ | 9,724 | $ | 11,441 | $ | 11,848 | ||||||
Selected_Quarterly_Financial_D
Selected Quarterly Financial Data (unaudited) (Notes) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2014 | Dec. 31, 2013 | ||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | |||||||||||||||||
Selected Quarterly Financial Data (unaudited) | The Company recorded net income of $34.7 million, or $1.72 per common share, for the fourth quarter of 2014. The Company’s fourth quarter 2014 operating results include a full recovery of the deferred tax valuation allowance of $35.1 million. The Company’s net interest income before provision for loan losses increased to $11.7 million due to stronger loan originations and improved asset quality. The Company’s fourth quarter 2014 operating results included a $756,000 recovery of loan losses. The primary reasons for this decrease was the growth in our loan portfolio focused on loan types with lower loss ratios based on our historical loss experience, and improvements in the historical loan loss factors that occurred as the losses incurred in earlier periods aged and thus were either eliminated from the calculation or assigned a lower weight. Noninterest expense included $467,000 of nonperforming asset management and OREO expense. | ||||||||||||||||
For the year ended December 31, 2014 | |||||||||||||||||
First | Second | Third | Fourth | ||||||||||||||
Quarter | Quarter | Quarter | Quarter | ||||||||||||||
Interest income | $ | 12,086 | $ | 12,482 | $ | 12,368 | $ | 12,413 | |||||||||
Interest expense | 812 | 774 | 746 | 714 | |||||||||||||
Net interest income | 11,274 | 11,708 | 11,622 | 11,699 | |||||||||||||
Provision for (recovery of) loan losses | 476 | 957 | (1,413 | ) | (756 | ) | |||||||||||
Net interest income | 10,798 | 10,751 | 13,035 | 12,455 | |||||||||||||
Noninterest income | 1,532 | 1,660 | 1,748 | 1,769 | |||||||||||||
Noninterest expense | 11,371 | 10,982 | 11,157 | 10,941 | |||||||||||||
Income before income taxes | 959 | 1,429 | 3,626 | 3,283 | |||||||||||||
Income tax expense (benefit) | 17 | 25 | 36 | (31,395 | ) | ||||||||||||
Net income | $ | 942 | $ | 1,404 | $ | 3,590 | $ | 34,678 | |||||||||
Basic earnings per common share | $ | 0.05 | $ | 0.07 | $ | 0.17 | $ | 1.72 | |||||||||
Diluted earnings per common share | $ | 0.05 | $ | 0.07 | $ | 0.17 | $ | 1.72 | |||||||||
The Company recorded net income of $34.7 million, or $1.72 per common share, for the fourth quarter of 2014. The Company’s fourth quarter 2014 operating results include a full recovery of the deferred tax valuation allowance of $35.1 million. The Company’s net interest income before provision for loan losses increased to $11.7 million due to stronger loan originations and improved asset quality. The Company’s fourth quarter 2014 operating results included a $756,000 recovery of loan losses. The primary reasons for this decrease was the growth in our loan portfolio focused on loan types with lower loss ratios based on our historical loss experience, and improvements in the historical loan loss factors that occurred as the losses incurred in earlier periods aged and thus were either eliminated from the calculation or assigned a lower weight. Noninterest expense included $467,000 of nonperforming asset management and OREO expense. | |||||||||||||||||
For the year ended December 31, 2013 | |||||||||||||||||
First | Second | Third | Fourth | ||||||||||||||
Quarter | Quarter | Quarter | Quarter | ||||||||||||||
Interest income | $ | 12,713 | $ | 12,276 | $ | 12,107 | $ | 12,296 | |||||||||
Interest expense | 994 | 935 | 882 | 842 | |||||||||||||
Net interest income | 11,719 | 11,341 | 11,225 | 11,454 | |||||||||||||
Provision for (recovery of) loan losses | 722 | 206 | (437 | ) | (1,178 | ) | |||||||||||
Net interest income | 10,997 | 11,135 | 11,662 | 12,632 | |||||||||||||
Noninterest income | 3,029 | 1,703 | 1,737 | 1,665 | |||||||||||||
Noninterest expense | 13,348 | 12,762 | 12,360 | 12,792 | |||||||||||||
Income before income taxes | 678 | 76 | 1,039 | 1,505 | |||||||||||||
Income tax expense (benefit) | — | — | — | — | |||||||||||||
Net income | $ | 678 | $ | 76 | $ | 1,039 | $ | 1,505 | |||||||||
Basic earnings per common share | $ | 0.03 | $ | — | $ | 0.05 | $ | 0.08 | |||||||||
Diluted earnings per common share | $ | 0.03 | $ | — | $ | 0.05 | $ | 0.08 | |||||||||
The Company recorded net income of $1.5 million for the fourth quarter of 2013. The Company’s net interest income before provision for loan losses increased to $11.5 million due to stronger loan originations and improved asset quality. The Company’s fourth quarter 2013 operating results included a $1.2 million recovery of loan losses. The recovery is primarily due to the growth in our loan portfolio focused on loan types with lower loss ratios based on our historical loss experience and the historical loan loss factors improved as the losses incurred in earlier periods aged, therefore are weighted less in the calculation. Noninterest expense included $811,000 of nonperforming asset management and OREO expense. |
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 12 Months Ended | |
Dec. 31, 2014 | ||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Basis of Presentation | Basis of Presentation: BankFinancial Corporation, a Maryland corporation headquartered in Burr Ridge, Illinois (the “Company”), is the owner of all of the issued and outstanding capital stock of BankFinancial, F.S.B. (the “Bank”). | |
Principles of Consolidation | Principles of Consolidation: The consolidated financial statements include the accounts of and transactions of BankFinancial Corporation, the Bank, and the Bank’s wholly-owned subsidiaries, Financial Assurance Services, Inc. and BF Asset Recovery Corporation (collectively, “the Company”). All significant intercompany accounts and transactions have been eliminated. | |
Use of Estimates | Use of Estimates: To prepare financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”), management makes estimates and assumptions based on available information. These estimates and assumptions affect the amounts reported in the financial statements and the disclosures provided, | |
Cash Flows | Interest-bearing Deposits in Other Financial Institutions: Interest-bearing deposits in other financial institutions maturing in less than 90 days are carried at cost. | |
Cash Flows: Cash and cash equivalents include cash, deposits with other financial institutions maturing in less than 90 days, and daily federal funds sold. Net cash flows are reported for customer loan and deposit transactions, interest bearing deposits in other financial institutions, borrowings, and advance payments by borrowers for taxes and insurance. | ||
Securities | Securities: Debt securities are classified as available-for-sale when they might be sold before maturity. Equity securities with readily determinable fair values are classified as available-for-sale. Securities available-for-sale are carried at fair value, with unrealized holding gains and losses reported in other comprehensive income (loss), net of tax. Interest income includes amortization of purchase premium or discount. Premiums and discounts on securities are amortized on the level-yield method without anticipating prepayments, except for mortgage-backed securities where prepayments are anticipated. Gains and losses on sales are based on the amortized cost of the security sold. Declines in the fair value of securities below their cost that are other-than-temporary are reflected as realized losses. In determining if losses are other-than-temporary, management considers: (1) the length of time and extent that fair value has been less than cost or adjusted cost, as applicable, (2) the financial condition and near term prospects of the issuer, and (3) whether the Company has the intent to sell the debt security or it is more likely than not that the Company will be required to sell the debt security before the anticipated recovery. | |
Federal Home Loan Bank Stock | Federal Home Loan Bank Stock: The Bank is a member of the Federal Home Loan Bank system. Members are required to own a certain amount of stock based on the level of borrowings and other factors, and may invest in additional amounts. Federal Home Loan Bank of Chicago (“FHLBC”) stock is carried at cost and classified as a restricted security. Accounting guidance for FHLBC stock provides that, for impairment testing purposes, the value of long term investments such as our FHLBC common stock is based on the “ultimate recoverability” of the par value of the security without regard to temporary declines in value. Both cash and stock dividends are reported as income. | |
Loans Held-for-Sale | Loans Held–for–Sale: Mortgage loans originated and intended for sale in the secondary market are carried at the lower of aggregate cost or estimated fair market value, as determined by outstanding commitments from investors. Net unrealized losses, if any, are recorded as a valuation allowance and charged to earnings. Mortgage loans held–for–sale are generally sold with servicing rights retained. The carrying value of mortgage loans sold is reduced by the fair value of the servicing right. Gains and losses on sales of mortgage loans are based on the difference between the selling price and the carrying value of the related loan sold. | |
Held for investment loans that have been transferred to held-for-sale are carried at the lower of cost or fair value. For held-for-sale loans, any decreases in value below cost after transfer are recognized in mortgage banking revenue in the Consolidated Statements of Operations and increases in fair value above cost are not recognized until the loans are sold. The credit component of any write down upon transfer to held-for-sale is reflected in charge-offs to the allowance for loan losses. | ||
Fair market value is determined based on quoted market rates and our judgment of relevant market conditions. Gains and losses on the disposition of loans held-for-sale are determined on the specific identification method. Transferred mortgage loans sold in the secondary market are sold without retaining servicing rights. | ||
Loans And Loan Income | Loans and Loan Income: Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are reported at the principal balance outstanding, net of the allowance for loan losses, premiums and discounts on loans purchased, and net deferred loan costs. Interest income on loans is recognized in income over the term of the loan based on the amount of principal outstanding. | |
Premiums and discounts associated with loans purchased are amortized over the contractual term of the loan using the level–yield method. Loan origination fees, net of certain direct origination costs, are deferred and recognized in interest income using the level‑yield method without anticipating prepayments. | ||
Interest income is reported on the interest method. Interest income is discontinued at the time a loan is 90 days past due or when we do not expect to receive full payment of interest or principal. Past due status is based on the contractual terms of the loan. | ||
All interest accrued but not received for loans that have been placed on nonaccrual status is reversed against interest income. Interest received on such loans is accounted for on the cash–basis or cost–recovery method until qualifying for return to accrual status. Once a loan is placed on non-accrual status, the borrower must generally demonstrate at least six months of payment performance before the loan is eligible to return to accrual status. Generally, the Company utilizes the “90 days delinquent, still accruing” category of loan classification when: (1) the loan is repaid in full shortly after the period end date; (2) the loan is well secured and there are no asserted or pending legal barriers to its collection; or (3) the borrower has remitted all scheduled payments and is otherwise in substantial compliance with the terms of the loan, but the processing of payments actually received or the renewal of a loan has not occurred for administrative reasons. | ||
Impaired Loans | Impaired Loans: Impaired loans consist of nonaccrual loans and troubled debt restructurings (“TDRs”). A loan is considered impaired when, based on current information and events, management believes that it is probable that we will be unable to collect all amounts due (both principal and interest) according to the original contractual terms of the loan agreement. Once a loan is determined to be impaired, the amount of impairment is measured based on the loan's observable fair value, the fair value of the underlying collateral less selling costs if the loan is collateral-dependent, or the present value of expected future cash flows discounted at the loan's effective interest rate. If the measurement of the impaired loan is less than the recorded investment in the loan, the bank's allowance for the impaired collateral dependent loan under ASC 310-10-35 is based on fair value (less costs to sell), but the charge-off (the confirmed “loss”) is based on the higher appraised value. The remaining recorded investment in the loan after the charge-off will have a loan loss allowance for the amount by which the estimated fair value of the collateral (less costs to sell) is less than its appraised value. | |
Impaired loans with specific reserves are reviewed quarterly for any changes that would affect the specific reserve. Any impaired loan for which a determination has been made that the economic value is permanently reduced is charged-off against the allowance for loan losses to reflect its current economic value in the period in which the determination has been made. | ||
At the time a collateral-dependent loan is initially determined to be impaired, we review the existing collateral appraisal. If the most recent appraisal is greater than a year old, a new appraisal is obtained on the underlying collateral. Appraisals are updated with a new independent appraisal at least annually and are formally reviewed by our internal appraisal department upon receipt of a new appraisal. All impaired loans and their related reserves are reviewed and updated each quarter. With an immaterial number of exceptions, all appraisals and internal reviews are current under this methodology at December 31, 2014. | ||
Purchased Impaired Loans | Purchased Impaired Loans: Purchased impaired loans are recorded at their estimated fair values on the respective purchase dates and are accounted for prospectively based on expected cash flows. No allowance for credit losses is recorded on these loans at the acquisition date. In determining the acquisition date fair value of purchased impaired loans, and in subsequent accounting, the Company reviews these loans on an individual basis. Expected future cash flows in excess of the fair value of loans at the purchase date (''accretable yield'') are recorded as interest income over the life of the loans if the timing and amount of the future cash flows can be reasonably estimated. The non-accretable yield represents estimated losses in the portfolio and is equal to the difference between contractually required payments and the cash flows expected to be collected at acquisition. | |
Subsequent to the purchase date, increases in cash flows over those expected at the purchase date are recognized as interest income prospectively. The present value of any decreases in expected cash flows after the purchase date is recognized by recording a charge-off through the allowance for loan losses. | ||
Troubled Debt Restructurings | Troubled Debt Restructurings: A loan is classified as a troubled debt restructuring when a borrower is experiencing financial difficulties that leads to a restructuring of the loan, and the Company grants concessions to the borrower in the restructuring that it would not otherwise consider. These concessions may include rate reductions, principal forgiveness, extension of maturity date and other actions intended to minimize potential losses. | |
In determining whether a debtor is experiencing financial difficulties, the Company considers if the debtor is in payment default or would be in payment default in the foreseeable future without the modification, the debtor declared or is in the process of declaring bankruptcy, there is substantial doubt that the debtor will continue as a going concern, the debtor has securities that have been or are in the process of being delisted, the debtor's entity-specific projected cash flows will not be sufficient to service any of its debt, or the debtor cannot obtain funds from sources other than the existing creditors at a market rate for debt with similar risk characteristics. | ||
In determining whether the Company has granted a concession, the Company assesses, if it does not expect to collect all amounts due, whether the current value of the collateral will satisfy the amounts owed, whether additional collateral or guarantees from the debtor will serve as adequate compensation for other terms of the restructuring, and whether the debtor otherwise has access to funds at a market rate for debt with similar risk characteristics. | ||
A loan that is modified at a market rate of interest will not be classified as troubled debt restructuring in the calendar year subsequent to the restructuring if it is in compliance with the modified terms. Payment performance prior and subsequent to the restructuring is taken into account in assessing whether it is likely that the borrower can meet the new terms. This may result in the loan being returned to accrual at the time of restructuring. A period of sustained repayment for at least six months generally is required for return to accrual status. | ||
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 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. | ||
Allowance for Loan Losses | Allowance for Loan Losses: The Company establishes provisions for loan losses, which are charged to the Company’s results of operations to maintain the allowance for loan losses to absorb probable incurred credit losses in the loan portfolio. In determining the level of the allowance for loan losses, the Company considers past and current loss experience, trends in classified loans, evaluations of real estate collateral, current economic conditions, volume and type of lending, adverse situations that may affect a borrower’s ability to repay a loan and the levels of nonperforming and other classified loans. The amount of the allowance is based on estimates and the ultimate losses may vary from the estimates as more information becomes available or events change. | |
The Company provides for loan losses based on the allowance method. Accordingly, all loan losses are charged to the related allowance and all recoveries are credited to it. Additions to the allowance for loan losses are provided by charges to income based on various factors that, in our judgment, deserve current recognition in estimating probable incurred credit losses. The Company reviews the loan portfolio on an ongoing basis and makes provisions for loan losses on a quarterly basis to maintain the allowance for loan losses in accordance with GAAP. The allowance for loan losses consists of two components: | ||
• | specific allowances established for any impaired residential non-owner occupied mortgage, multi-family mortgage, nonresidential real estate, construction and land, commercial, and commercial lease loans for which the recorded investment in the loan exceeds the measured value of the loan; and | |
• | general allowances for loan losses for each loan class based on historical loan loss experience; and adjustments to historical loss experience (general allowances), maintained to cover uncertainties that affect our estimate of probable incurred credit losses for each loan class. If the remaining unamortized discount related to a specific pool of purchased performing loans exceeds the estimated credit losses associated with these loans, no general valuation allowance is recorded against the loans. | |
The adjustments to historical loss experience are based on our evaluation of several factors, including levels of, and trends in, past due and classified loans; levels of, and trends in, charge–offs and recoveries; trends in volume and terms of loans, including any credit concentrations in the loan portfolio; experience and ability of lending management and other relevant staff; and national and local economic trends and conditions. | ||
The Company evaluates the allowance for loan losses based upon the combined total of the specific and general components. Generally, when the loan portfolio increases, absent other factors, the allowance for loan loss methodology results in a higher dollar amount of estimated probable incurred credit losses than would be the case without the increase. Conversely, when the loan portfolio decreases, absent other factors, the allowance for loan loss methodology generally results in a lower dollar amount of estimated probable losses than would be the case without the decrease. | ||
The loss ratio used in computing the required general loan loss reserve allowance for a given class of loan consists of (i) the actual loss ratio (measured on a weighted, rolling twelve-quarter basis), (ii) the change in credit quality within the specific loan class during the period, (iii) the actual inherent risk factor assigned to the specific loan class and (iv) the actual concentration of risk factor assigned to the specific loan class (collectively, “the Specific Loan Class Risk Factors”). The Specific Loan Class Risk Factors are weighted equally in the calculation. In addition, two additional quantitative factors, the National Economic risk factor and the Local Economic risk factor, are also components of the computation but are given different weightings in their computation due to their relative applicability to the specific loan class in the context of the effect of national and local economic conditions on their risk profile and performance. | ||
Uncollected Interest, Policy [Policy Text Block] | 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. | |
Mortgage Servicing Rights | Mortgage Servicing Rights: Mortgage servicing rights are recognized separately when they are acquired through sales of loans. When mortgage loans are sold, servicing rights are initially recorded at fair value and gains on sales of loans are recorded in the statement of operations. Fair value is based on market prices for comparable mortgage servicing contracts, when available, or alternatively, is based on a valuation model that calculates the present value of estimated future net servicing income. The valuation model incorporates assumptions that market participants would use in estimating future net servicing income, such as the servicing cost per loan, the discount rate, the escrow float rate, an inflation rate, ancillary income, prepayment speeds and default rates and losses. The Company compares the valuation model inputs and results to published industry data in order to validate the model results and assumptions. All classes of servicing assets are subsequently measured using the amortization method which requires servicing rights to be amortized into noninterest income in proportion to, and over the period of, the estimated future net servicing income of the underlying loans. | |
Servicing assets are evaluated for impairment based upon the fair value of the rights as compared to carrying amount. Impairment is determined by stratifying rights into groupings based on predominant risk characteristics, such as interest rate, loan type and investor type. Impairment is recognized through a valuation allowance for an individual grouping, to the extent that fair value is less than the carrying amount. If the Company later determines that all or a portion of the impairment no longer exists for a particular grouping, a reduction of the allowance may be recorded as an increase to income. Changes in valuation allowances are reported with amortization and impairment of servicing assets on the statement of operations. The fair values of servicing rights are subject to significant fluctuations as a result of changes in estimated and actual prepayment speeds and default rates and losses. | ||
Servicing fee income that is reported on the statement of operations as loan servicing fees is recorded for fees earned for servicing loans. The fees are based on a contractual percentage of the outstanding principal; or a fixed amount per loan and are recorded as income when earned. Late fees and ancillary fees related to loan servicing are not material. | ||
Other Real Estate Owned | Other Real Estate Owned: Real estate properties acquired in collection of a loan are initially recorded at fair value less cost to sell at acquisition, establishing a new cost basis. If fair value declines subsequent to foreclosure, a valuation allowance is recorded through expense. Operating expenses, gains and losses on disposition, and changes in the valuation allowance are reported in noninterest expense as operations of other real estate owned ("OREO"). | |
Premises and Equipment | Premises and Equipment: Land is carried at cost. Premises and equipment are stated at cost less accumulated depreciation. Depreciation is included in noninterest expense and is computed on the straight-line method over the estimated useful lives of the assets. Useful lives are estimated to be 25 to 40 years for buildings and improvements that extend the life of the original building, ten to 20 years for routine building improvements, five to 15 years for furniture and equipment, two to five years for computer hardware and software and no greater than four years on automobiles. The cost of maintenance and repairs is charged to expense as incurred and significant repairs are capitalized. | |
Goodwill and Other Intangible Assets | Other Intangible Assets: Intangible assets acquired in a purchase business combination with definite useful lives are amortized over their estimated useful lives to their estimated residual values. Core deposit intangible assets (“CDI”), are recognized at the time of acquisition based on valuations prepared by independent third parties or other estimates of fair value. In preparing such valuations, variables such as deposit servicing costs, attrition rates, and market discount rates are considered. CDI assets are amortized to expense over their useful lives. | |
Bank Owned Life Insurance | Bank Owned Life Insurance: The Company has purchased life insurance policies on certain key executives. The Company owned life insurance is recorded at the amount that can be realized under the insurance contract at the balance sheet date, which is the cash surrender value adjusted for other charges or other amounts due that are probable at settlement. | |
Long-Term Assets | Long-Term Assets: Premises and equipment, core deposit and other intangible assets, and other long-term assets are reviewed for impairment when events indicate that their carrying amount may not be recoverable from future undiscounted cash flows. If impaired, the assets are recorded at fair value. | |
Loan Commitments and Related Financial Instruments | Loan Commitments and Related Financial Instruments: Financial instruments include off-balance-sheet credit instruments, such as commitments to make loans and commercial letters of credit, issued to meet customer financing needs. The face amount for these items represents the exposure to loss, before considering customer collateral or ability to repay. Such financial instruments are recorded when they are funded. | |
Income Taxes | Income Taxes: Income tax expense is the total of the current year income tax due or refundable and the change in deferred tax assets and liabilities. Under GAAP, a deferred tax asset valuation allowance is required to be recognized if it is “more likely than not” that the deferred tax asset will not be realized. The determination of the realizability of the deferred tax assets is highly subjective and dependent upon judgment concerning management’s evaluation of both positive and negative evidence, the forecasts of future taxable income, applicable tax planning strategies, and assessments of current and future economic and business conditions. The Company considers both positive and negative evidence regarding the ultimate realizability of our deferred tax assets. Examples of positive evidence may include the existence, if any, of taxes paid in available carry-back years and the likelihood that taxable income will be generated in future periods. Examples of negative evidence may include a cumulative loss in the current year and prior two years and negative general business and economic trends. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period of the enactment date. | |
This analysis is updated quarterly and adjusted as necessary. At December 31, 2014, the Company had a net deferred tax asset of $31.6 million, after recording a full recovery of the valuation allowance established in 2011. | ||
A tax position is recognized as a benefit only if it "more likely than not" that the tax position would be sustained in a tax examination, presuming that a tax examination will occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely to be realized on examination. For tax positions not meeting the more likely than not" test, no tax benefit is recorded. | ||
Retirement Plans | Retirement Plans: Employee 401(k) and profit sharing plan expense is the amount of matching contributions and any annual discretionary contribution made at the discretion of the Company’s Board of Directors. Deferred compensation expense allocates the benefits over years of service. | |
Employee Stock Ownership Plan (ESOP) | Employee Stock Ownership Plan (“ESOP”): The cost of shares issued to the ESOP, but not yet allocated to participants, is shown as a reduction of stockholders’ equity. Compensation expense is based on the market price of shares as they are committed to be released to participant accounts. Dividends on allocated ESOP shares reduce retained earnings; dividends on unearned ESOP shares reduce debt and accrued interest. | |
Earnings (Loss) Per Common Share | Earnings (Loss) Per Common Share: Basic earnings (loss) per common share is net income (loss) divided by the weighted average number of common shares outstanding during the period. ESOP shares are considered outstanding for this calculation unless unearned. Diluted earnings (loss) per common share is net income (loss) divided by the weighted average number of common shares outstanding during the period plus the dilutive effect of restricted stock shares and the additional potential shares issuable under stock options. | |
Loss Contingencies | Loss Contingencies: Loss contingencies, including claims and legal actions arising in the ordinary course of business, are recorded as liabilities when the likelihood of loss is probable and an amount or range of loss can be reasonably estimated. Management does not believe that there are such matters that will have a material effect on the financial statements as of December 31, 2014. | |
Restrictions on Cash | Restrictions on Cash: Cash on hand or on deposit with the Federal Reserve Bank which is required to meet regulatory reserve and clearing requirements. | |
Fair Value of Financial Instruments | Fair Values of Financial Instruments: Fair values of financial instruments are estimated using relevant market value information and other assumptions, as more fully disclosed in a separate note. Fair value estimates involve uncertainties and matters of significant judgment regarding interest rates, credit risk, prepayments, and other factors, especially in the absence of broad markets for particular items. Changes in assumptions or in market conditions could significantly affect the estimates. | |
Comprehensive Income (Loss) | Comprehensive Income (Loss): Comprehensive income (loss) consists of net income (loss) and other comprehensive income (loss). Other comprehensive income (loss) includes unrealized gains and losses on securities, net of tax, which are also recognized as separate components of stockholders’ equity. | |
Stock-based Compensation | Stock-based Compensation: Compensation cost is recognized for stock options and restricted stock awards issued to employees, based on the fair value of these awards at the date of grant. The Black-Scholes model is utilized to estimate the fair value of stock options, while the market price of the Company’s common stock at the date of grant is used for restricted stock awards. Compensation cost is recognized over the required service period, generally defined as the vesting period. | |
Transfers of Financial Assets | Transfers of Financial Assets: Transfers of financial assets are accounted for as sales when control over the assets has been relinquished. Control over transferred assets is deemed to be surrendered when the assets have been isolated from the Company, the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets, and the Company does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity. | |
Operating Segments | Operating Segments: While management monitors the revenue streams of the various products and services, operations are managed and financial performance is evaluated on a Company-wide basis. Operating results are not reviewed by senior management to make resource allocation or performance decisions. Accordingly, all of the financial service operations are considered by management to be aggregated in one reportable operating segment. | |
Reclassifications | Reclassifications: Certain reclassifications have been made in the prior year’s financial statements to conform to the current year’s presentation. | |
Recent Accounting Pronouncements | Recent Accounting Pronouncements | |
In January 2014, the FASB amended existing guidance to clarify when a creditor should derecognize a loan receivable and recognized collateral asset. An in substance repossession or foreclosure occurs, and a creditor is considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan, upon either (1) the creditor obtaining legal title to the residential real estate property upon completion of a foreclosure or (2) the borrower conveying all interest in the residential real estate property to the creditor to satisfy that loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. Additionally, the amendment requires interim and annual disclosure of both (1) the amount of foreclosed residential real estate property held by the creditor and (2) the recorded investment in consumer mortgage loans collateralized by residential real estate property that are in the process of foreclosure according to local requirements of the applicable jurisdiction. This amendment is effective for interim and annual reporting periods beginning after December 15, 2014. The adoption of this standard will not have a material impact on the Company’s results of operation or financial position but will require expansion of the Company’s disclosures. | ||
FASB ASC 606 - In May 2014, the FASB issued an update (ASU No. 2014-09, Revenue from Contracts with Customers) creating FASB Topic 606, Revenue from Contracts with Customers. The guidance in this update affects any entity that either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of nonfinancial assets unless those contracts are within the scope of other standards (for example, insurance contracts or lease contracts). The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance provides steps to follow to achieve the core principle. An entity should disclose sufficient information to enable users of financial statements to understand the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. Qualitative and quantitative information is required about contracts with customers, significant judgments and changes in judgments, and assets recognized from the costs to obtain or fulfill a contract. The amendments in this update become effective for annual periods and interim periods within those annual periods beginning after December 15, 2016. We are currently evaluating the impact of adopting the new guidance on the consolidated financial statements. |
Summary_of_Significant_Account2
Summary of Significant Accounting Policies Uncollected interest policy (Policies) | 12 Months Ended |
Dec. 31, 2014 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Uncollected Interest, Policy [Policy Text Block] | 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. |
Earnings_Loss_Per_Share_Tables
Earnings (Loss) Per Share (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Earnings Per Share [Abstract] | ||||||||||||
Reconciliation of Basic and Diluted Earnings Per Share | ||||||||||||
For the years ended December 31, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Net income (loss) available to common stockholders | $ | 40,614 | $ | 3,298 | $ | (27,109 | ) | |||||
Average common shares outstanding | 21,101,966 | 21,091,399 | 21,072,966 | |||||||||
Less: | ||||||||||||
Unearned ESOP shares | (905,235 | ) | (1,054,140 | ) | (1,182,495 | ) | ||||||
Unvested restricted stock shares | (19,460 | ) | (16,421 | ) | (1,954 | ) | ||||||
Weighted average common shares outstanding | 20,177,271 | 20,020,838 | 19,888,517 | |||||||||
Add - Net effect of dilutive stock options and unvested restricted stock | 9,105 | 4,483 | — | |||||||||
Weighted average dilutive common shares outstanding | 20,186,376 | 20,025,321 | 19,888,517 | |||||||||
Basic earnings (loss) per common share | $ | 2.01 | $ | 0.16 | $ | (1.36 | ) | |||||
Diluted earnings (loss) per common share | $ | 2.01 | $ | 0.16 | $ | (1.36 | ) | |||||
Number of antidilutive stock options excluded from the diluted earnings per share calculation | — | — | — | |||||||||
Weighted average exercise price of anti-dilutive option shares | $ | — | $ | — | $ | — | ||||||
Securities_Tables
Securities (Tables) | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ||||||||||||||||||||||||
Unrealized gains and losses recognized in accumulated other comprehensive income (loss) | The fair value of securities and the related gross unrealized gains and losses recognized in accumulated other comprehensive income is as follows: | |||||||||||||||||||||||
Amortized | Gross | Gross | Fair Value | |||||||||||||||||||||
Cost | Unrealized | Unrealized | ||||||||||||||||||||||
Gains | Losses | |||||||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||||||
Certificates of deposit | $ | 86,049 | $ | — | $ | — | $ | 86,049 | ||||||||||||||||
Equity mutual fund | 500 | 9 | — | 509 | ||||||||||||||||||||
Mortgage-backed securities - residential | 23,433 | 1,218 | (40 | ) | 24,611 | |||||||||||||||||||
Collateralized mortgage obligations - residential | 9,936 | 53 | (13 | ) | 9,976 | |||||||||||||||||||
SBA-guaranteed loan participation certificates | 29 | — | — | 29 | ||||||||||||||||||||
$ | 119,947 | $ | 1,280 | $ | (53 | ) | $ | 121,174 | ||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||
Certificates of deposit | $ | 65,010 | $ | — | $ | — | $ | 65,010 | ||||||||||||||||
Municipal securities | 180 | 7 | — | 187 | ||||||||||||||||||||
Equity mutual fund | 500 | — | (3 | ) | 497 | |||||||||||||||||||
Mortgage-backed securities - residential | 27,229 | 1,295 | (160 | ) | 28,364 | |||||||||||||||||||
Collateralized mortgage obligations - residential | 16,851 | 35 | (72 | ) | 16,814 | |||||||||||||||||||
SBA-guaranteed loan participation certificates | 35 | — | — | 35 | ||||||||||||||||||||
$ | 109,805 | $ | 1,337 | $ | (235 | ) | $ | 110,907 | ||||||||||||||||
Amortized cost and fair values of securities | Sales of securities were as follows: | |||||||||||||||||||||||
For the years ended December 31, | ||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
Proceeds | $ | 3,663 | $ | — | $ | — | ||||||||||||||||||
Gross gains | — | — | — | |||||||||||||||||||||
Gross losses | 7 | — | — | |||||||||||||||||||||
The amortized cost and fair values of securities at December 31, 2014 by contractual maturity are shown below. Securities not due at a single maturity date are shown separately. Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. | ||||||||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||||||
Amortized | Fair | |||||||||||||||||||||||
Cost | Value | |||||||||||||||||||||||
Due in one year or less | $ | 86,049 | $ | 86,049 | ||||||||||||||||||||
Equity mutual fund | 500 | 509 | ||||||||||||||||||||||
Mortgage-backed securities - residential | 23,433 | 24,611 | ||||||||||||||||||||||
Collateralized mortgage obligations - residential | 9,936 | 9,976 | ||||||||||||||||||||||
SBA-guaranteed loan participation certificates | 29 | 29 | ||||||||||||||||||||||
$ | 119,947 | $ | 121,174 | |||||||||||||||||||||
Securities with unrealized losses | Securities with unrealized losses at December 31, 2014 and 2013 not recognized in income are as follows: | |||||||||||||||||||||||
Less than 12 Months | 12 Months or More | Total | ||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||||||
Value | Loss | Value | Loss | Value | Loss | |||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||||||
Mortgage-backed securities - residential | $ | — | $ | — | $ | 2,126 | $ | (40 | ) | $ | 2,126 | $ | (40 | ) | ||||||||||
Collateralized mortgage obligations - residential | — | — | 1,847 | (13 | ) | 1,847 | (13 | ) | ||||||||||||||||
$ | — | $ | — | $ | 3,973 | $ | (53 | ) | $ | 3,973 | $ | (53 | ) | |||||||||||
December 31, 2013 | ||||||||||||||||||||||||
Equity mutual fund | $ | 497 | $ | (3 | ) | $ | — | $ | — | $ | 497 | $ | (3 | ) | ||||||||||
Mortgage-backed securities - residential | 2,806 | (160 | ) | — | — | 2,806 | (160 | ) | ||||||||||||||||
Collateralized mortgage obligations - residential | 11,233 | (72 | ) | — | — | 11,233 | (72 | ) | ||||||||||||||||
$ | 14,536 | $ | (235 | ) | $ | — | $ | — | $ | 14,536 | $ | (235 | ) | |||||||||||
Loans_Receivable_Tables
Loans Receivable (Tables) | 12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dec. 31, 2014 | Dec. 31, 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Receivables [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loans receivable | Loans receivable are as follows: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
December 31, | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
One-to-four family residential real estate | $ | 180,337 | $ | 201,382 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Multi-family mortgage | 480,349 | 396,058 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Nonresidential real estate | 234,500 | 263,567 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Construction and land | 1,885 | 6,570 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial loans | 66,882 | 54,255 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial leases | 217,143 | 187,112 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Consumer | 2,051 | 2,317 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
1,183,147 | 1,111,261 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net deferred loan origination costs | 1,199 | 970 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for loan losses | (11,990 | ) | (14,154 | ) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Loans, net | $ | 1,172,356 | $ | 1,098,077 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for loan losses and the loans receivable by portfolio segment | The following tables present the balance in the allowance for loan losses and the loans receivable by portfolio segment and based on impairment method: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
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, 2014 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
One-to-four family residential real estate | $ | 8 | $ | — | $ | 2,140 | $ | 2,148 | $ | 4,122 | $ | 52 | $ | 176,163 | $ | 180,337 | ||||||||||||||||||||||||||||||||||||||||
Multi-family mortgage | 226 | — | 4,979 | 5,205 | 5,282 | — | 475,067 | 480,349 | ||||||||||||||||||||||||||||||||||||||||||||||||
Nonresidential real estate | 236 | — | 2,704 | 2,940 | 4,690 | — | 229,810 | 234,500 | ||||||||||||||||||||||||||||||||||||||||||||||||
Construction and land | — | — | 80 | 80 | — | — | 1,885 | 1,885 | ||||||||||||||||||||||||||||||||||||||||||||||||
Commercial loans | — | — | 554 | 554 | 76 | — | 66,806 | 66,882 | ||||||||||||||||||||||||||||||||||||||||||||||||
Commercial leases | — | — | 1,009 | 1,009 | — | — | 217,143 | 217,143 | ||||||||||||||||||||||||||||||||||||||||||||||||
Consumer | — | — | 54 | 54 | — | — | 2,051 | 2,051 | ||||||||||||||||||||||||||||||||||||||||||||||||
$ | 470 | $ | — | $ | 11,520 | $ | 11,990 | $ | 14,170 | $ | 52 | $ | 1,168,925 | 1,183,147 | ||||||||||||||||||||||||||||||||||||||||||
Net deferred loan origination costs | 1,199 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for loan losses | (11,990 | ) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loans, net | $ | 1,172,356 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for loan losses | Loan Balances | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Individually | Purchased impaired loans | Collectively | Total | Individually | Purchase impaired loans | Collectively | Total | |||||||||||||||||||||||||||||||||||||||||||||||||
evaluated | evaluated | evaluated | evaluated | |||||||||||||||||||||||||||||||||||||||||||||||||||||
for | for | for | for | |||||||||||||||||||||||||||||||||||||||||||||||||||||
impairment | impairment | impairment | impairment | |||||||||||||||||||||||||||||||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
One-to-four family residential real estate | $ | 26 | $ | 5 | $ | 3,817 | $ | 3,848 | $ | 3,692 | $ | 100 | $ | 197,590 | $ | 201,382 | ||||||||||||||||||||||||||||||||||||||||
Multi-family mortgage | 255 | — | 4,189 | 4,444 | 7,031 | — | 389,027 | 396,058 | ||||||||||||||||||||||||||||||||||||||||||||||||
Nonresidential real estate | 77 | — | 3,658 | 3,735 | 4,381 | 1,633 | 257,553 | 263,567 | ||||||||||||||||||||||||||||||||||||||||||||||||
Construction and land | 12 | — | 381 | 393 | 383 | — | 6,187 | 6,570 | ||||||||||||||||||||||||||||||||||||||||||||||||
Commercial loans | — | — | 731 | 731 | — | 23 | 54,232 | 54,255 | ||||||||||||||||||||||||||||||||||||||||||||||||
Commercial leases | — | — | 946 | 946 | — | — | 187,112 | 187,112 | ||||||||||||||||||||||||||||||||||||||||||||||||
Consumer | — | — | 57 | 57 | 77 | — | 2,240 | 2,317 | ||||||||||||||||||||||||||||||||||||||||||||||||
$ | 370 | $ | 5 | $ | 13,779 | $ | 14,154 | $ | 15,564 | $ | 1,756 | $ | 1,093,941 | 1,111,261 | ||||||||||||||||||||||||||||||||||||||||||
Net deferred loan origination costs | 970 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for loan losses | (14,154 | ) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loans, net | $ | 1,098,077 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for loan losses | Activity in the allowance for loan losses is as follows: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
For the years ended December 31, | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Beginning balance | $ | 14,154 | $ | 18,035 | $ | 31,726 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Loans charged off: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
One-to-four family residential real estate | (873 | ) | (1,505 | ) | (12,366 | ) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Multi-family mortgage | (1,230 | ) | (1,832 | ) | (7,203 | ) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Nonresidential real estate | (1,727 | ) | (577 | ) | (18,167 | ) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Construction and land | (1 | ) | (943 | ) | (4,311 | ) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial loans | (123 | ) | (425 | ) | (4,960 | ) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial leases | (8 | ) | — | (121 | ) | |||||||||||||||||||||||||||||||||||||||||||||||||||
Consumer | (12 | ) | (55 | ) | (103 | ) | ||||||||||||||||||||||||||||||||||||||||||||||||||
(3,974 | ) | (5,337 | ) | (47,231 | ) | |||||||||||||||||||||||||||||||||||||||||||||||||||
Recoveries: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
One-to-four family residential real estate | 418 | 447 | 233 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Multi-family mortgage | 100 | 236 | 539 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Nonresidential real estate | 423 | 519 | 328 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Construction and land | 377 | 463 | 250 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial loans | 1,225 | 470 | 626 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Consumer | 3 | 8 | 42 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
2,546 | 2,143 | 2,018 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net charge-off | (1,428 | ) | (3,194 | ) | (45,213 | ) | ||||||||||||||||||||||||||||||||||||||||||||||||||
Provision for (recovery of) loan losses | (736 | ) | (687 | ) | 31,522 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Ending balance | $ | 11,990 | $ | 14,154 | $ | 18,035 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Loans Individually Evaluated For Impairment By Class Loans | The following table presents loans individually evaluated for impairment by class loans, excluding purchased impaired loans: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loan | Recorded | Partial Charge-off | Allowance | Average | Interest | |||||||||||||||||||||||||||||||||||||||||||||||||||
Balance | Investment | for Loan | Investment | Income | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Losses | in Impaired | Recognized | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Allocated | Loans | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
With no related allowance recorded | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
One-to-four family residential real estate | $ | 3,246 | $ | 2,656 | $ | 649 | $ | — | $ | 2,777 | $ | 44 | ||||||||||||||||||||||||||||||||||||||||||||
One-to-four family residential real estate - non-owner occupied | 1,399 | 1,373 | 27 | — | 745 | 76 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Multi-family mortgage | 3,174 | 2,593 | 481 | — | 3,419 | 120 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Wholesale commercial lending | 519 | 513 | — | — | 401 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||
Nonresidential real estate | 2,118 | 2,068 | 6 | — | 4,175 | 72 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial loans - secured | 76 | 76 | — | — | 93 | 3 | ||||||||||||||||||||||||||||||||||||||||||||||||||
10,532 | 9,279 | 1,163 | — | 11,610 | 315 | |||||||||||||||||||||||||||||||||||||||||||||||||||
With an allowance recorded | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
One-to-four family residential real estate - non-owner occupied | 115 | 78 | 37 | 8 | 202 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||
Multi-family mortgage | 2,713 | 2,131 | 624 | 226 | 2,343 | 48 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Nonresidential real estate | 2,950 | 2,605 | 326 | 236 | 1,718 | 67 | ||||||||||||||||||||||||||||||||||||||||||||||||||
5,778 | 4,814 | 987 | 470 | 4,263 | 115 | |||||||||||||||||||||||||||||||||||||||||||||||||||
$ | 16,310 | $ | 14,093 | $ | 2,150 | $ | 470 | $ | 15,873 | $ | 430 | |||||||||||||||||||||||||||||||||||||||||||||
Loan | Recorded | Partial Charge-off | Allowance | Average | Interest | |||||||||||||||||||||||||||||||||||||||||||||||||||
Balance | Investment | for Loan | Investment | Income | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Losses | in Impaired | Recognized | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Allocated | Loans | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
With no related allowance recorded | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
One-to-four family residential real estate | $ | 3,656 | $ | 2,540 | $ | 1,102 | $ | — | $ | 3,693 | $ | 20 | ||||||||||||||||||||||||||||||||||||||||||||
One-to-four family residential real estate - non-owner occupied | 875 | 706 | 137 | — | 591 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||
Multi-family mortgage | 5,466 | 4,449 | 4 | — | 6,098 | 27 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Nonresidential real estate | 4,062 | 3,313 | 253 | — | 4,054 | 33 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Land loans | 274 | 263 | 8 | — | 169 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial loans - secured | 77 | 77 | — | — | 83 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||
14,410 | 11,348 | 1,504 | — | 14,688 | 80 | |||||||||||||||||||||||||||||||||||||||||||||||||||
With an allowance recorded | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
One-to-four family residential real estate - non-owner occupied | 490 | 438 | 38 | 26 | 393 | 2 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Multi-family mortgage | 3,144 | 2,541 | 573 | 255 | 2,998 | 125 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Nonresidential real estate | 1,343 | 1,048 | 255 | 77 | 2,148 | 15 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Land | 180 | 119 | 60 | 12 | 1,265 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||
5,157 | 4,146 | 926 | 370 | 6,804 | 142 | |||||||||||||||||||||||||||||||||||||||||||||||||||
$ | 19,567 | $ | 15,494 | $ | 2,430 | $ | 370 | $ | 21,492 | $ | 222 | |||||||||||||||||||||||||||||||||||||||||||||
Carrying Amount Of Purchased Impaired Loans | The carrying amount of these purchased impaired loans is as follows: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
December 31, | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
One–to–four family residential real estate | $ | 52 | $ | 100 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Nonresidential real estate | — | 1,633 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial loans | — | 23 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Outstanding balance | $ | 52 | $ | 1,756 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Carrying amount, net of allowance | $ | 52 | $ | 1,751 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
(None at December 31, 2014, $5 at December 31, 2013) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accretable Yield Or Income Expected To Be Collected Related To Purchased Impaired Loans | Accretable yield, or income expected to be collected, related to purchased impaired loans is as follows: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
For the years ended December 31, | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Beginning balance | $ | 37 | $ | 196 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Disposals | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reclassifications from nonaccretable difference | (1 | ) | 35 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Accretion of income | 36 | 194 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Ending balance | $ | — | $ | 37 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period | 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: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
December 31, | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Contractually required payments receivable of loans purchased | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
One-to-four family residential real estate | $ | 82 | $ | 832 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Nonresidential real estate | — | 1,999 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial loans | — | 222 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
$ | 82 | $ | 3,053 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Financing Receivables, Non Accrual Status | The following table presents the recorded investment in nonaccrual 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 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
One-to-four family residential real estate | $ | 4,793 | $ | 4,210 | $ | — | ||||||||||||||||||||||||||||||||||||||||||||||||||
One-to-four family residential real estate – non owner occupied | 209 | 146 | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Multi-family mortgage | 5,638 | 4,481 | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Nonresidential real estate | 4,023 | 3,245 | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial loans – secured | 76 | 76 | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Consumer | 3 | 3 | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||
$ | 14,742 | $ | 12,161 | $ | — | |||||||||||||||||||||||||||||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
One-to-four family residential real estate | $ | 3,516 | $ | 3,498 | $ | — | ||||||||||||||||||||||||||||||||||||||||||||||||||
One-to-four family residential real estate – non owner occupied | 1,190 | 1,143 | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Multi-family mortgage | 8,142 | 7,098 | 228 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Nonresidential real estate | 4,748 | 4,214 | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Land | 387 | 382 | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial loans – secured | 77 | 77 | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Consumer loans | 12 | 12 | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||
$ | 18,072 | $ | 16,424 | $ | 228 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Past Due Financing Receivables | The following tables present the aging of the recorded investment in past due loans at December 31, 2014 by class of loans: | The following tables present the aging of the recorded investment in past due loans as December 31, 2013 by class of loans: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
30-59 Days | 60-89 Days | 90 Days or | Total Past | Loans Not | Total | 30-59 Days | 60-89 Days | Greater than | Total Past | Loans Not | Total | |||||||||||||||||||||||||||||||||||||||||||||
Past Due | Past Due | Greater | Due | Past Due | Past Due | Past Due | 90 Days Past | Due | Past Due | |||||||||||||||||||||||||||||||||||||||||||||||
Past Due | Due | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
One-to-four family residential real estate | $ | 1,415 | $ | 276 | $ | 3,844 | $ | 5,535 | $ | 126,054 | $ | 131,589 | One-to-four family residential real estate | $ | 751 | $ | 424 | $ | 2,876 | $ | 4,051 | $ | 142,058 | $ | 146,109 | |||||||||||||||||||||||||||||||
One-to-four family residential real estate - non-owner occupied | 320 | 165 | 146 | 631 | 47,350 | 47,981 | One-to-four family residential real estate - non-owner occupied | 905 | — | 960 | 1,865 | 52,676 | 54,541 | |||||||||||||||||||||||||||||||||||||||||||
Multi-family mortgage | 2,314 | 1,187 | 3,363 | 6,864 | 334,173 | 341,037 | Multi-family mortgage | 2,193 | 1,716 | 6,354 | 10,263 | 303,903 | 314,166 | |||||||||||||||||||||||||||||||||||||||||||
Wholesale commercial lending | — | — | — | — | 135,395 | 135,395 | Wholesale commercial lending | — | — | — | — | 78,531 | 78,531 | |||||||||||||||||||||||||||||||||||||||||||
Nonresidential real estate | 376 | 444 | 3,245 | 4,065 | 227,078 | 231,143 | Nonresidential real estate | 4,432 | 1,363 | 3,969 | 9,764 | 249,194 | 258,958 | |||||||||||||||||||||||||||||||||||||||||||
Construction | — | — | — | — | 63 | 63 | Construction | — | — | — | — | 2,486 | 2,486 | |||||||||||||||||||||||||||||||||||||||||||
Land | — | — | — | — | 1,814 | 1,814 | Land | — | — | 382 | 382 | 3,684 | 4,066 | |||||||||||||||||||||||||||||||||||||||||||
Commercial loans: | Commercial loans: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Secured | — | — | 76 | 76 | 11,863 | 11,939 | Secured | 9 | — | — | 9 | 15,971 | 15,980 | |||||||||||||||||||||||||||||||||||||||||||
Unsecured | — | 1 | — | 1 | 1,884 | 1,885 | Unsecured | 25 | — | — | 25 | 4,117 | 4,142 | |||||||||||||||||||||||||||||||||||||||||||
Municipal loans | — | — | — | — | 2,243 | 2,243 | Municipal loans | — | — | — | — | 2,849 | 2,849 | |||||||||||||||||||||||||||||||||||||||||||
Warehouse lines | — | — | — | — | 14,362 | 14,362 | Warehouse lines | — | — | — | — | 1,927 | 1,927 | |||||||||||||||||||||||||||||||||||||||||||
Health care | — | — | — | — | 24,154 | 24,154 | Health care | — | — | — | — | 19,381 | 19,381 | |||||||||||||||||||||||||||||||||||||||||||
Aviation | — | — | — | — | 1,111 | 1,111 | Aviation | — | — | — | — | 1,102 | 1,102 | |||||||||||||||||||||||||||||||||||||||||||
Other | — | — | — | — | 11,339 | 11,339 | Other | — | — | — | — | 9,006 | 9,006 | |||||||||||||||||||||||||||||||||||||||||||
Commercial leases: | Commercial leases: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment rated commercial leases | 426 | — | — | 426 | 160,830 | 161,256 | Investment rated commercial leases | — | — | — | — | 147,374 | 147,374 | |||||||||||||||||||||||||||||||||||||||||||
Below investment grade | 136 | — | — | 136 | 11,246 | 11,382 | Below investment grade | 8 | — | — | 8 | 14,739 | 14,747 | |||||||||||||||||||||||||||||||||||||||||||
Non-rated | 8 | — | — | 8 | 35,672 | 35,680 | Non-rated | — | — | — | — | 23,175 | 23,175 | |||||||||||||||||||||||||||||||||||||||||||
Lease pools | — | — | — | — | 10,180 | 10,180 | Lease pools | — | — | — | — | 3,011 | 3,011 | |||||||||||||||||||||||||||||||||||||||||||
Consumer | 18 | 1 | 3 | 22 | 2,038 | 2,060 | Consumer | 3 | 4 | 4 | 11 | 2,317 | 2,328 | |||||||||||||||||||||||||||||||||||||||||||
Total | $ | 5,013 | $ | 2,074 | $ | 10,677 | $ | 17,764 | $ | 1,158,849 | $ | 1,176,613 | $ | 8,326 | $ | 3,507 | $ | 14,545 | $ | 26,378 | $ | 1,077,501 | $ | 1,103,879 | ||||||||||||||||||||||||||||||||
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 - non-owner occupied | $ | — | $ | — | $ | 100 | $ | 100 | $ | — | $ | 100 | ||||||||||||||||||||||||||||||||||||||||||||
Nonresidential real estate | — | — | 1,631 | 1,631 | — | 1,631 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial loans – secured | — | — | 23 | 23 | — | 23 | ||||||||||||||||||||||||||||||||||||||||||||||||||
$ | — | $ | — | $ | 1,754 | $ | 1,754 | $ | — | $ | 1,754 | |||||||||||||||||||||||||||||||||||||||||||||
Recorded Investment In Past Due Purchased Impaired Loans | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
30-59 Days | 60-89 Days | 90 Days or | Total Past | Loans Not | Total | 30-59 Days | 60-89 Days | 90 Days or | Total Past | Loans Not | Total | |||||||||||||||||||||||||||||||||||||||||||||
Past Due | Past Due | Greater | Due | Past Due | Past Due | Past Due | Greater | Due | Past Due | |||||||||||||||||||||||||||||||||||||||||||||||
Past Due | Past Due | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Purchased impaired loans | Purchased impaired loans | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
One-to-four family residential real estate - non-owner occupied | $ | — | $ | — | $ | 52 | $ | 52 | $ | — | $ | 52 | One-to-four family residential real estate - non-owner occupied | $ | — | $ | — | $ | 100 | $ | 100 | $ | — | $ | 100 | |||||||||||||||||||||||||||||||
Nonresidential real estate | — | — | — | — | — | — | Nonresidential real estate | — | — | 1,631 | 1,631 | — | 1,631 | |||||||||||||||||||||||||||||||||||||||||||
Commercial loans – secured | — | — | — | — | — | — | Commercial loans – secured | — | — | 23 | 23 | — | 23 | |||||||||||||||||||||||||||||||||||||||||||
$ | — | $ | — | $ | 52 | $ | 52 | $ | — | $ | 52 | $ | — | $ | — | $ | 1,754 | $ | 1,754 | $ | — | $ | 1,754 | |||||||||||||||||||||||||||||||||
Troubled Debt Restructurings on Financing Receivables | The following table presents loans classified as TDRs: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
December 31, | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
One-to-four family residential real estate | $ | 1,917 | $ | 2,093 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Multi-family mortgage | 510 | 518 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrual troubled debt restructured loans | 2,427 | 2,611 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
One-to-four family residential real estate | 230 | 342 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Multi-family mortgage | 346 | 384 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Nonaccrual troubled debt restructured loans | 576 | 726 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
$ | 3,003 | $ | 3,337 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Loans By Class Modified As Troubled Debt Restructuring On Financing Receivables | The following tables present TDRs that occurred during the year: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
For the years ended December 31, | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | 4 | $ | 485 | $ | 444 | 7 | $ | 1,249 | $ | 1,249 | ||||||||||||||||||||||||||||||||||||||||||||||
One-to-four family residential real estate - non-owner occupied | — | — | — | 1 | 71 | 46 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial loans - secured | 1 | 210 | 5 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||
5 | $ | 695 | $ | 449 | 8 | $ | 1,320 | $ | 1,295 | |||||||||||||||||||||||||||||||||||||||||||||||
Due to | Due to | Due to | Total | |||||||||||||||||||||||||||||||||||||||||||||||||||||
reduction in | extension of | permanent | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
interest rate | maturity date | reduction in | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
recorded | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
investment | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
For the year ended December 31, 2014 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
One-to-four family residential real estate | $ | 19 | $ | 373 | $ | 52 | $ | 444 | ||||||||||||||||||||||||||||||||||||||||||||||||
Commercial loans - secured | — | — | 5 | 5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
$ | 19 | $ | 373 | $ | 57 | $ | 449 | |||||||||||||||||||||||||||||||||||||||||||||||||
For the year ended December 31, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
One-to-four family residential real estate | $ | — | $ | 1,249 | $ | 46 | $ | 1,295 | ||||||||||||||||||||||||||||||||||||||||||||||||
Loans By Class Modified As Troubled Debt Restructurings With Payment Default | The following table presents TDRs for which there was a payment default within twelve months following the modification: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
For the years ended December 31, | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number | Recorded | Number | Recorded | |||||||||||||||||||||||||||||||||||||||||||||||||||||
of loans | investment | of loans | investment | |||||||||||||||||||||||||||||||||||||||||||||||||||||
One-to-four family residential real estate | 2 | $ | 78 | — | $ | — | ||||||||||||||||||||||||||||||||||||||||||||||||||
Financing Receivable Credit Quality Indicators | As of December 31, 2014, and based on the most recent analysis performed, the risk category of loans by class of loans is as follows: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | Special | Substandard | Nonaccrual | Total | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Mention | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
One-to-four family residential real estate | $ | 126,102 | $ | 615 | $ | 1,046 | $ | 4,228 | $ | 131,991 | ||||||||||||||||||||||||||||||||||||||||||||||
One-to-four family residential real estate - non-owner occupied | 46,253 | 931 | 964 | 198 | 48,346 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Multi-family mortgage | 336,557 | 609 | 3,430 | 4,515 | 345,111 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Wholesale commercial lending | 134,719 | — | 519 | — | 135,238 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Nonresidential real estate | 223,385 | 1,170 | 6,698 | 3,247 | 234,500 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Construction | 60 | — | — | — | 60 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Land | 1,212 | — | 613 | — | 1,825 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial loans: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Secured | 11,863 | — | 7 | 76 | 11,946 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Unsecured | 1,147 | 40 | 698 | — | 1,885 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Municipal loans | 2,213 | — | — | — | 2,213 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse lines | 11,296 | — | — | — | 11,296 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Health care | 24,127 | — | — | — | 24,127 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Aviation | 1,108 | — | — | — | 1,108 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Other | 14,307 | — | — | — | 14,307 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial leases: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment rated commercial leases | 160,208 | — | — | — | 160,208 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Below investment grade | 11,309 | — | — | — | 11,309 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Non-rated | 35,473 | — | — | — | 35,473 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Lease pools | 10,153 | — | — | — | 10,153 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Consumer | 2,048 | — | — | 3 | 2,051 | |||||||||||||||||||||||||||||||||||||||||||||||||||
$ | 1,153,540 | $ | 3,365 | $ | 13,975 | $ | 12,267 | $ | 1,183,147 | |||||||||||||||||||||||||||||||||||||||||||||||
As of December 31, 2013, and based on the most recent analysis performed, the risk category of loans by class of loans is as follows: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | Special | Substandard | Nonaccrual | Total | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Mention | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
One-to-four family residential real estate | $ | 140,716 | $ | 269 | $ | 1,941 | $ | 3,508 | $ | 146,434 | ||||||||||||||||||||||||||||||||||||||||||||||
One-to-four family residential real estate - non-owner occupied | 53,010 | — | 693 | 1,245 | 54,948 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Multi-family mortgage | 299,058 | 6,471 | 3,890 | 7,031 | 316,450 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Wholesale commercial lending | 75,741 | 2,694 | 1,173 | — | 79,608 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Nonresidential real estate | 237,751 | 6,306 | 13,645 | 5,865 | 263,567 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Construction | 2,484 | — | — | — | 2,484 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Land | 2,871 | — | 832 | 383 | 4,086 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial loans: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Secured | 15,824 | — | 78 | 100 | 16,002 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Unsecured | 3,173 | 67 | 899 | — | 4,139 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Municipal loans | 2,812 | — | — | — | 2,812 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Warehouse lines | 1,904 | — | — | — | 1,904 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Health care | 19,330 | — | — | — | 19,330 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Aviation | 1,100 | — | — | — | 1,100 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Other | 8,968 | — | — | — | 8,968 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial leases: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment rated commercial leases | 146,471 | — | — | — | 146,471 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Below investment grade | 14,626 | — | — | — | 14,626 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Non-rated | 22,805 | — | 210 | — | 23,015 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Lease pools | 3,000 | — | — | — | 3,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Consumer | 2,316 | — | 1 | — | 2,317 | |||||||||||||||||||||||||||||||||||||||||||||||||||
$ | 1,053,960 | $ | 15,807 | $ | 23,362 | $ | 18,132 | $ | 1,111,261 | |||||||||||||||||||||||||||||||||||||||||||||||
Secondary_Mortgage_Market_Acti1
Secondary Mortgage Market Activities (Tables) | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Mortgage Banking [Abstract] | ||||||||
Schedule of Servicing Assets at Amortized Value | Activity for capitalized mortgage servicing rights and the related valuation allowance was as follows. | |||||||
December 31, | ||||||||
2014 | 2013 | |||||||
Servicing rights | ||||||||
Beginning of year | $ | 931 | $ | 1,090 | ||||
Additions | 38 | 74 | ||||||
Amortized to expense | (135 | ) | (233 | ) | ||||
End of year | $ | 834 | $ | 931 | ||||
Valuation allowance | ||||||||
Beginning of year | $ | 5 | $ | 70 | ||||
Additions expensed | 8 | — | ||||||
Reductions credited to expense | — | (65 | ) | |||||
End of year | $ | 13 | $ | 5 | ||||
Carrying value of mortgage servicing rights | $ | 821 | $ | 926 | ||||
Fair value of mortgage servicing rights | $ | 1,190 | $ | 1,279 | ||||
Schedule of Fair Value Assumptions | Significant assumptions are as follows: | |||||||
December 31, | ||||||||
2014 | 2013 | |||||||
Prepayment speed | 13.69 | % | 14.22 | % | ||||
Discount rate | 12 | % | 12 | % | ||||
Average servicing cost per loan | $63.00 | $65.00 | ||||||
Escrow float rate | 1.83 | % | 1.67 | % | ||||
Schedule of Servicing Assets at Fair Value | Key economic assumptions used in measuring the fair value of the Company’s mortgage servicing rights as of December 31, 2014 and the effect on the fair value of our mortgage servicing rights from adverse changes in those assumptions, are as follows: | |||||||
Fair value of mortgage servicing rights | $ | 1,190 | ||||||
Weighted average annual prepayment speed | 13.69 | % | ||||||
Decrease in fair value from 10% adverse change | (25 | ) | ||||||
Decrease in fair value from 20% adverse change | (49 | ) | ||||||
Weighted-average annual discount rate | 12 | % | ||||||
Decrease in fair value from 10% adverse change | (44 | ) | ||||||
Decrease in fair value from 20% adverse change | (85 | ) | ||||||
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense | The weighted average amortization period is 61 months. The estimated amortization expense for each of the next five years is as follows: | |||||||
2015 | $ | 175 | ||||||
2016 | 127 | |||||||
2017 | 101 | |||||||
2018 | 82 | |||||||
2019 | 64 | |||||||
Estimated amortization expense for each of the next five years is as follows: | ||||||||
2015 | $ | 551 | ||||||
2016 | 523 | |||||||
2017 | 496 | |||||||
2018 | 184 | |||||||
2019 | 61 | |||||||
Premises_and_Equipment_Tables
Premises and Equipment (Tables) | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Property, Plant, Equipment And Leases [Abstract] | ||||||||
Property, Plant and Equipment | Year end premises and equipment are as follows: | |||||||
December 31, | ||||||||
2014 | 2013 | |||||||
Land and land improvements | $ | 13,569 | $ | 13,600 | ||||
Buildings and improvements | 37,181 | 37,616 | ||||||
Furniture and equipment | 9,487 | 9,950 | ||||||
Computer equipment | 7,232 | 6,411 | ||||||
67,469 | 67,577 | |||||||
Accumulated depreciation | (33,183 | ) | (32,249 | ) | ||||
$ | 34,286 | $ | 35,328 | |||||
Schedule of Future Minimum Rental Payments and Receipts for Operating Leases | The Company has subleased some of its branch facilities and currently is entitled to receive income as follows: | |||||||
2015 | $ | 50 | ||||||
2016 | 43 | |||||||
2017 | 6 | |||||||
$ | 99 | |||||||
The projected minimum rental expense under existing leases, not including taxes, insurance, and maintenance, as of December 31, 2014 is as follows: | ||||||||
2015 | $ | 440 | ||||||
2016 | 445 | |||||||
2017 | 469 | |||||||
2018 | 479 | |||||||
2019 | 471 | |||||||
Thereafter | 5,166 | |||||||
$ | 7,470 | |||||||
Goodwill_and_Core_Intangible_T
Goodwill and Core Intangible (Tables) | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ||||||||
Schedule of Goodwill | T | |||||||
Schedule of Finite-Lived Intangible Assets | The following table presents the changes in the carrying amount of core deposit intangible, gross carrying amount, accumulated amortization, and net book value: | |||||||
December 31, | ||||||||
2014 | 2013 | |||||||
Balance at the beginning of the year | $ | 2,433 | $ | 3,038 | ||||
Amortization | (578 | ) | (605 | ) | ||||
Additions | — | — | ||||||
Net Carrying Value | $ | 1,855 | $ | 2,433 | ||||
Gross carrying amount | $ | 5,932 | $ | 5,932 | ||||
Accumulated amortization | (4,077 | ) | (3,499 | ) | ||||
Net Carrying Value | $ | 1,855 | $ | 2,433 | ||||
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense | The weighted average amortization period is 61 months. The estimated amortization expense for each of the next five years is as follows: | |||||||
2015 | $ | 175 | ||||||
2016 | 127 | |||||||
2017 | 101 | |||||||
2018 | 82 | |||||||
2019 | 64 | |||||||
Estimated amortization expense for each of the next five years is as follows: | ||||||||
2015 | $ | 551 | ||||||
2016 | 523 | |||||||
2017 | 496 | |||||||
2018 | 184 | |||||||
2019 | 61 | |||||||
Deposits_Tables
Deposits (Tables) | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Deposits [Abstract] | ||||||||
Schedule Of Deposits By Type | omposition of deposits are as follows: | |||||||
December 31, | ||||||||
2014 | 2013 | |||||||
Noninterest-bearing demand deposits | $ | 130,711 | $ | 126,680 | ||||
Savings deposits | 154,532 | 149,602 | ||||||
Money market accounts | 338,499 | 347,017 | ||||||
Interest-bearing NOW accounts | 355,112 | 353,787 | ||||||
Certificates of deposit | 232,859 | 275,622 | ||||||
$ | 1,211,713 | $ | 1,252,708 | |||||
Schedule Of Maturities For Total Time Deposits | Scheduled maturities of certificates of deposit for the next five years are as follows: | |||||||
2015 | $ | 161,020 | ||||||
2016 | 53,095 | |||||||
2017 | 12,189 | |||||||
2018 | 3,183 | |||||||
2019 | 3,372 | |||||||
Borrowings_Tables
Borrowings (Tables) | 12 Months Ended | |||||||||||||
Dec. 31, 2014 | ||||||||||||||
Debt Disclosure [Abstract] | ||||||||||||||
Schedule of Long-term Debt Instruments | Year-end borrowed funds are as follows: | |||||||||||||
December 31, | ||||||||||||||
2014 | 2013 | |||||||||||||
Contractual | Amount | Contractual | Amount | |||||||||||
Rate | Rate | |||||||||||||
Fixed-rate advance from FHLBC, due within 1 year | 0.13 | % | $ | 10,000 | — | % | $ | — | ||||||
Securities sold under agreements to repurchase | 0.25 | 2,921 | 0.25 | 3,055 | ||||||||||
0.16 | % | $ | 12,921 | 0.25 | % | $ | 3,055 | |||||||
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Income Tax Disclosure [Abstract] | ||||||||||||
Schedule of Income Tax Expense (Benefit) | he income tax benefit is as follows: | |||||||||||
For the years ended December 31, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Current | $ | 363 | $ | — | $ | — | ||||||
Deferred benefit | 3,437 | (1,310 | ) | (11,206 | ) | |||||||
Deferred tax valuation allowance | (35,117 | ) | 1,310 | 11,206 | ||||||||
Total income tax benefit | $ | (31,317 | ) | $ | — | $ | — | |||||
Schedule of Effective Income Tax Rate | A reconciliation of the provision for income taxes computed at the statutory federal corporate tax rate of 34% for 2014, 2013 and 2012 to the income tax benefit in the consolidated statements of operations follows: | |||||||||||
For the years ended December 31, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Expense (benefit) computed at the statutory federal tax rate | $ | 3,161 | $ | 1,121 | $ | (9,217 | ) | |||||
State taxes and other, net | 664 | 92 | (1,757 | ) | ||||||||
Tax adjustments | — | (2,390 | ) | — | ||||||||
Bank owned life insurance | (80 | ) | (106 | ) | (149 | ) | ||||||
ESOP/Share based compensation | 55 | (27 | ) | (83 | ) | |||||||
Deferred tax valuation allowance | (35,117 | ) | 1,310 | 11,206 | ||||||||
$ | (31,317 | ) | $ | — | $ | — | ||||||
Effective income tax rate | N.M. | — | % | — | % | |||||||
N.M. Not Meaningful | ||||||||||||
Retained earnings at December 31, 2014 and 2013 include $14.9 million for which no deferred federal income tax liability has been recorded. This amount represents an allocation of income to bad debt deductions for tax purposes alone. | ||||||||||||
Schedule of Deferred Assets And Liabilities | The net deferred tax asset is as follows: | |||||||||||
December 31, | ||||||||||||
2014 | 2013 | |||||||||||
Gross Deferred tax assets | ||||||||||||
Allowance for loan losses | $ | 4,598 | $ | 5,567 | ||||||||
Alternative minimum tax, general business credit and net operating loss carryforwards | 28,842 | 30,311 | ||||||||||
Tax deductible goodwill and core deposit intangible | 2,091 | 2,448 | ||||||||||
Other | 1,703 | 2,167 | ||||||||||
37,234 | 40,493 | |||||||||||
Gross Deferred tax liabilities | ||||||||||||
Net deferred loan origination costs | (1,587 | ) | (1,426 | ) | ||||||||
Purchase accounting adjustments | (2,728 | ) | (2,552 | ) | ||||||||
Other | (805 | ) | (964 | ) | ||||||||
Unrealized gain on securities | (471 | ) | (434 | ) | ||||||||
(5,591 | ) | (5,376 | ) | |||||||||
Valuation allowance | — | (35,117 | ) | |||||||||
$ | 31,643 | $ | — | |||||||||
Schedule of Unrecognized Tax Benefits | A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows: | |||||||||||
December 31, | ||||||||||||
2014 | 2013 | |||||||||||
Beginning of year | $ | 65 | $ | 125 | ||||||||
Additions based on tax positions related to the current year | 63 | — | ||||||||||
Additions for tax positions of prior years | 1 | 2 | ||||||||||
Reductions due to the statute of limitations and reductions for tax positions of prior years | (50 | ) | (62 | ) | ||||||||
End of year | $ | 79 | $ | 65 | ||||||||
Regulatory_Matters_Tables
Regulatory Matters (Tables) | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||
Banking and Thrift [Abstract] | |||||||||||||||||||||
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations | Actual and required capital amounts and ratios were: | ||||||||||||||||||||
Actual | Required for Capital Adequacy Purposes | To be Well-Capitalized under Prompt Corrective Action Provisions | |||||||||||||||||||
Amount | Ratio | Amount | Ratio | Amount | Ratio | ||||||||||||||||
December 31, 2014 | |||||||||||||||||||||
Total capital (to risk-weighted assets): | |||||||||||||||||||||
Consolidated | $ | 199,284 | 18.31 | % | $ | 87,084 | 8 | % | N/A | N/A | |||||||||||
BankFinancial, F.S.B. | 176,414 | 16.21 | 87,058 | 8 | $ | 108,822 | 10 | % | |||||||||||||
Tier 1 (core) capital (to risk-weighted assets): | |||||||||||||||||||||
Consolidated | 187,290 | 17.21 | 43,542 | 4 | N/A | N/A | |||||||||||||||
BankFinancial, F.S.B. | 164,420 | 15.11 | 43,529 | 4 | 65,293 | 6 | |||||||||||||||
Tier 1 (core) capital (to adjusted average total assets): | |||||||||||||||||||||
Consolidated | 187,290 | 13.04 | 57,363 | 4 | N/A | N/A | |||||||||||||||
BankFinancial, F.S.B. | 164,420 | 11.45 | 57,431 | 4 | 71,789 | 5 | |||||||||||||||
December 31, 2013 | |||||||||||||||||||||
Total capital (to risk-weighted assets): | |||||||||||||||||||||
Consolidated | $ | 186,251 | 17.28 | % | $ | 86,212 | 8 | % | N/A | N/A | |||||||||||
BankFinancial, F.S.B. | 160,839 | 14.93 | 86,192 | 8 | $ | 107,740 | 10 | % | |||||||||||||
Tier 1 (core) capital (to risk-weighted assets): | |||||||||||||||||||||
Consolidated | 172,775 | 16.03 | 43,106 | 4 | N/A | N/A | |||||||||||||||
BankFinancial, F.S.B. | 147,363 | 13.68 | 43,096 | 4 | 64,644 | 6 | |||||||||||||||
Tier 1 (core) capital (to adjusted average total assets): | |||||||||||||||||||||
Consolidated | 172,775 | 11.92 | 58,002 | 4 | N/A | N/A | |||||||||||||||
BankFinancial, F.S.B. | 147,363 | 10.16 | 57,992 | 4 | 72,490 | 5 | |||||||||||||||
Schedule of Reconciliation of Bank's Equity | A reconciliation of the Bank’s equity under GAAP to regulatory capital is as follows: | ||||||||||||||||||||
December 31, | |||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||
GAAP equity | $ | 192,182 | $ | 150,215 | |||||||||||||||||
Disallowed other intangible assets | (1,855 | ) | (2,433 | ) | |||||||||||||||||
Disallowed deferred tax asset | (25,150 | ) | — | ||||||||||||||||||
Accumulated other comprehensive income (unrealized gain on securities) | (757 | ) | (419 | ) | |||||||||||||||||
Tier 1 capital | 164,420 | 147,363 | |||||||||||||||||||
General regulatory loan loss reserves allowed | 11,990 | 13,476 | |||||||||||||||||||
Unrealized gains on securities available for sale allowed | 4 | — | |||||||||||||||||||
Total regulatory capital | $ | 176,414 | $ | 160,839 | |||||||||||||||||
Employee_Benefit_Plans_Tables
Employee Benefit Plans (Tables) | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Compensation and Retirement Disclosure [Abstract] | ||||||||
Schedule of Employee Stock Ownership Plan (ESOP) Disclosures | Shares held by the ESOP were as follows: | |||||||
December 31, | ||||||||
2014 | 2013 | |||||||
Allocated to participants | 929,718 | 831,853 | ||||||
Distributed to participants | (202,235 | ) | (139,584 | ) | ||||
Unearned | 1,027,582 | 1,125,447 | ||||||
Total ESOP shares | 1,755,065 | 1,817,716 | ||||||
Fair value of unearned shares | $ | 12,187 | $ | 10,309 | ||||
Equity_Incentive_Plans_Tables
Equity Incentive Plans (Tables) | 12 Months Ended | ||||||||||||||
Dec. 31, 2014 | |||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||||||||||||||
Schedule of Stock Option Activity | As of December 31, 2014 and 2013, there were no stock options outstanding. There are 2,446,625 stock options available for grant at December 31, 2014. | ||||||||||||||
Schedule of Unvested Shares of Restricted Stock | |||||||||||||||
Restricted Stock | Number of | Weighted Average Fair Value at | Weighted | Aggregate | |||||||||||
Shares (1) | Grant Date | Average | Intrinsic | ||||||||||||
Term to Vest | Value (2) | ||||||||||||||
(in years) | |||||||||||||||
Shares outstanding at January 1, 2013 | — | $ | — | — | $ | — | |||||||||
Shares granted | 29,000 | 8.14 | |||||||||||||
Shares vested | (3,250 | ) | — | ||||||||||||
Shares forfeited | — | — | |||||||||||||
Shares outstanding at December 31, 2013 | 25,750 | 8.14 | 1.2 | $ | 236 | ||||||||||
Shares granted | — | — | |||||||||||||
Shares vested | (8,928 | ) | — | ||||||||||||
Shares forfeited | — | — | |||||||||||||
Shares outstanding at December 31, 2014 | 16,822 | $ | 8.14 | 0.44 | $ | 199 | |||||||||
-1 | The end of period balances consist only of unvested shares. | ||||||||||||||
-2 | Restricted stock aggregate intrinsic value represents the number of shares of restricted stock multiplied by the market price of the common stock underlying the outstanding shares on the date shown. |
Loan_Commitments_and_Other_Off1
Loan Commitments and Other Off-balance Sheet Activities (Tables) | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Commitments and Contingencies Disclosure [Abstract] | ||||||||
Schedule of Off-balance Sheet Instruments Outstanding | The contractual or notional amounts are as follows: | |||||||
December 31, | ||||||||
2014 | 2013 | |||||||
Financial instruments wherein contractual amounts represent credit risk | ||||||||
Commitments to extend credit | $ | 30,477 | $ | 29,253 | ||||
Standby letters of credit | 472 | 922 | ||||||
Unused lines of credit | 109,580 | 118,167 | ||||||
Commitments to sell mortgages | — | 222 | ||||||
Fair_Value_Tables
Fair Value (Tables) | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||
Fair Value Disclosures [Abstract] | ||||||||||||||||||||
Schedule of Company's financial instruments measured at fair values | The following table sets forth the Company’s financial assets that were accounted for at fair value and are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. | |||||||||||||||||||
Fair Value Measurements Using | ||||||||||||||||||||
Quoted | Significant | Significant | Fair Value | |||||||||||||||||
Prices in | Observable | Unobservable | ||||||||||||||||||
Active | Inputs | Inputs | ||||||||||||||||||
Markets for | (Level 2) | (Level 3) | ||||||||||||||||||
Identical | ||||||||||||||||||||
Assets | ||||||||||||||||||||
(Level 1) | ||||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||
Securities: | ||||||||||||||||||||
Certificates of deposit | $ | — | $ | 86,049 | $ | — | $ | 86,049 | ||||||||||||
Equity mutual fund | 509 | — | — | 509 | ||||||||||||||||
Mortgage-backed securities – residential | — | 24,611 | — | 24,611 | ||||||||||||||||
Collateralized mortgage obligations – residential | — | 9,976 | — | 9,976 | ||||||||||||||||
SBA-guaranteed loan participation certificates | — | 29 | — | 29 | ||||||||||||||||
$ | 509 | $ | 120,665 | $ | — | $ | 121,174 | |||||||||||||
December 31, 2013 | ||||||||||||||||||||
Securities: | ||||||||||||||||||||
Certificates of deposit | $ | — | $ | 65,010 | $ | — | $ | 65,010 | ||||||||||||
Municipal securities | — | 187 | — | 187 | ||||||||||||||||
Equity mutual fund | 497 | — | — | 497 | ||||||||||||||||
Mortgage-backed securities - residential | — | 28,364 | — | 28,364 | ||||||||||||||||
Collateralized mortgage obligations – residential | — | 16,814 | — | 16,814 | ||||||||||||||||
SBA-guaranteed loan participation certificates | — | 35 | — | 35 | ||||||||||||||||
$ | 497 | $ | 110,410 | $ | — | $ | 110,907 | |||||||||||||
Schedule of Company's financial instruments measured on non recurring at fair values | The following table sets forth the Company’s assets that were measured at fair value on a non-recurring basis: | |||||||||||||||||||
Fair Value Measurement Using | ||||||||||||||||||||
Quoted Prices in | Significant | Significant | Fair | |||||||||||||||||
Active Markets | Observable | Unobservable | Value | |||||||||||||||||
for Identical | Inputs | Inputs | ||||||||||||||||||
Assets | (Level 2) | (Level 3) | ||||||||||||||||||
(Level 1) | ||||||||||||||||||||
December 31, 2014 | ||||||||||||||||||||
Impaired loans: | ||||||||||||||||||||
One–to–four family residential real estate | $ | — | $ | — | $ | 70 | $ | 70 | ||||||||||||
Multi-family mortgage | — | — | 1,905 | 1,905 | ||||||||||||||||
Nonresidential real estate | — | — | 2,369 | 2,369 | ||||||||||||||||
Impaired loans | $ | — | $ | — | $ | 4,344 | $ | 4,344 | ||||||||||||
Other real estate owned: | ||||||||||||||||||||
One–to–four family residential real estate | $ | — | $ | — | $ | 55 | $ | 55 | ||||||||||||
Multi-family mortgage | — | — | 1,265 | 1,265 | ||||||||||||||||
Nonresidential real estate | — | — | 126 | 126 | ||||||||||||||||
Land | — | — | 753 | 753 | ||||||||||||||||
Other real estate owned | $ | — | $ | — | $ | 2,199 | $ | 2,199 | ||||||||||||
Mortgage servicing rights | $ | — | $ | 160 | $ | — | $ | 160 | ||||||||||||
December 31, 2013 | ||||||||||||||||||||
Impaired loans: | ||||||||||||||||||||
One–to–four family residential real estate | $ | — | $ | — | $ | 460 | $ | 460 | ||||||||||||
Multi-family mortgage | — | — | 2,286 | 2,286 | ||||||||||||||||
Nonresidential real estate | — | — | 971 | 971 | ||||||||||||||||
Construction and land | — | — | 107 | 107 | ||||||||||||||||
Impaired loans | $ | — | $ | — | $ | 3,824 | $ | 3,824 | ||||||||||||
Other real estate owned: | ||||||||||||||||||||
One–to–four family residential real estate | $ | — | $ | — | $ | 297 | $ | 297 | ||||||||||||
Nonresidential real estate | — | — | 460 | 460 | ||||||||||||||||
Land | — | — | 1,019 | 1,019 | ||||||||||||||||
Other real estate owned | $ | — | $ | — | $ | 1,776 | $ | 1,776 | ||||||||||||
Mortgage servicing rights | $ | — | $ | 198 | $ | — | $ | 198 | ||||||||||||
Schedule of fair value quantitative information | The following table presents quantitative information, based on certain empirical data with respect to Level 3 fair value measurements for financial instruments measured at fair value on a non-recurring basis at December 31, 2014: | |||||||||||||||||||
Fair Value | Valuation | Unobservable | Range | |||||||||||||||||
Technique | Input | (Weighted | ||||||||||||||||||
Average) | ||||||||||||||||||||
Impaired loans | ||||||||||||||||||||
One-to-four family residential real estate | $ | 70 | Sales comparison | Discount applied to valuation | 4.80% | |||||||||||||||
Multi-family mortgage | 1,905 | Sales comparison | Comparison between sales and income approaches | -0.458 | ||||||||||||||||
-41% | ||||||||||||||||||||
Income approach | Cap Rate | 9.6% to 13.8% | ||||||||||||||||||
-10% | ||||||||||||||||||||
Nonresidential real estate | 2,369 | Sales comparison | Comparison between sales and income approaches | -0.36 | ||||||||||||||||
-24% | ||||||||||||||||||||
Income approach | Cap Rate | 10%-11% | ||||||||||||||||||
-10% | ||||||||||||||||||||
$ | 4,344 | |||||||||||||||||||
Other real estate owned | ||||||||||||||||||||
One-to-four family residential real estate | $ | 55 | Sales comparison | Discount applied to valuation | 6.3%-7.7% | |||||||||||||||
-7% | ||||||||||||||||||||
Multi-family mortgage | 1,265 | Sales comparison | Comparison between sales and income approaches | -0.201 | ||||||||||||||||
-0.40% | ||||||||||||||||||||
Nonresidential real estate | 126 | Sales comparison | Comparison between sales and income approaches | 32.30% | ||||||||||||||||
Land | 753 | Sales comparison | Discount applied to valuation | -0.261 | ||||||||||||||||
(-10%) | ||||||||||||||||||||
$ | 2,199 | |||||||||||||||||||
Carrying amount and estimated fair value of financial instruments | The carrying amount and estimated fair value of financial instruments is as follows: | |||||||||||||||||||
Fair Value Measurements at | ||||||||||||||||||||
December 31, 2014 Using: | ||||||||||||||||||||
Carrying | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||
Amount | ||||||||||||||||||||
Financial assets | ||||||||||||||||||||
Cash and cash equivalents | $ | 59,581 | $ | 9,693 | $ | 49,888 | $ | — | $ | 59,581 | ||||||||||
Securities | 121,174 | 509 | 120,665 | — | 121,174 | |||||||||||||||
Loans receivable, net of allowance for loan losses | 1,172,356 | — | 1,166,181 | 4,344 | 1,170,525 | |||||||||||||||
FHLBC stock | 6,257 | — | — | — | N/A | |||||||||||||||
Accrued interest receivable | 3,926 | — | 3,926 | — | 3,926 | |||||||||||||||
Financial liabilities | ||||||||||||||||||||
Noninterest-bearing demand deposits | $ | 130,711 | $ | — | $ | 130,711 | $ | — | $ | 130,711 | ||||||||||
Savings deposits | 154,532 | — | 154,532 | — | 154,532 | |||||||||||||||
NOW and money market accounts | 693,611 | — | 693,611 | — | 693,611 | |||||||||||||||
Certificates of deposit | 232,859 | — | 232,588 | — | 232,588 | |||||||||||||||
Borrowings | 12,921 | — | 12,908 | — | 12,908 | |||||||||||||||
Accrued interest payable | 89 | — | 89 | — | 89 | |||||||||||||||
Fair Value Measurements at | ||||||||||||||||||||
December 31, 2013 Using: | ||||||||||||||||||||
Carrying | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||
Amount | ||||||||||||||||||||
Financial assets | ||||||||||||||||||||
Cash and cash equivalents | $ | 160,957 | $ | 15,781 | $ | 145,176 | $ | — | $ | 160,957 | ||||||||||
Securities | 110,907 | 497 | 110,410 | — | 110,907 | |||||||||||||||
Loans receivable, net of allowance for loan losses | 1,098,077 | — | 1,049,111 | 3,824 | 1,052,935 | |||||||||||||||
FHLBC stock | 6,068 | — | — | — | N/A | |||||||||||||||
Accrued interest receivable | 3,933 | — | 3,933 | — | 3,933 | |||||||||||||||
Financial liabilities | ||||||||||||||||||||
Noninterest-bearing demand deposits | $ | 126,680 | $ | — | $ | 126,680 | $ | — | $ | 126,680 | ||||||||||
Savings deposits | 149,602 | — | 149,602 | — | 149,602 | |||||||||||||||
NOW and money market accounts | 700,804 | — | 700,804 | — | 700,804 | |||||||||||||||
Certificates of deposit | 275,622 | — | 276,022 | — | 276,022 | |||||||||||||||
Borrowings | 3,055 | — | 3,057 | — | 3,057 | |||||||||||||||
Accrued interest payable | 113 | — | 113 | — | 113 | |||||||||||||||
Company_Only_Condensed_Financi1
Company Only Condensed Financial Information (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | ||||||||||||
Condensed Statements of Financial Condition | Condensed Statements of Financial Condition | |||||||||||
December 31, | ||||||||||||
2014 | 2013 | |||||||||||
Assets | ||||||||||||
Cash in subsidiary | $ | 9,724 | $ | 11,441 | ||||||||
Loan receivable from ESOP | 12,791 | 13,742 | ||||||||||
Investment in subsidiary | 192,182 | 150,215 | ||||||||||
Deferred tax asset | 1,082 | — | ||||||||||
Other assets | 342 | 252 | ||||||||||
$ | 216,121 | $ | 175,650 | |||||||||
Liabilities and Stockholders' Equity | ||||||||||||
Accrued expenses and other liabilities | $ | — | $ | 23 | ||||||||
Total stockholders’ equity | 216,121 | 175,627 | ||||||||||
$ | 216,121 | $ | 175,650 | |||||||||
Condensed Statements of Operations | Condensed Statements of Operations | |||||||||||
For the years ended December 31, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Interest income | $ | 584 | $ | 623 | $ | 662 | ||||||
Other income | — | — | 57 | |||||||||
Other expense | 1,451 | 1,473 | 1,422 | |||||||||
Loss before income tax and undistributed subsidiary income | (867 | ) | (850 | ) | (703 | ) | ||||||
Income tax benefit | (1,082 | ) | — | — | ||||||||
Income (loss) before equity in undistributed subsidiary income | 215 | (850 | ) | (703 | ) | |||||||
Equity in undistributed subsidiary excess distributions | 40,399 | 4,148 | (26,406 | ) | ||||||||
Net income (loss) | $ | 40,614 | $ | 3,298 | $ | (27,109 | ) | |||||
Condensed Statements of Cash Flows | Condensed Statements of Cash Flows | |||||||||||
For the years ended December 31, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Cash flows from operating activities | ||||||||||||
Net income (loss) | $ | 40,614 | $ | 3,298 | $ | (27,109 | ) | |||||
Adjustments: | ||||||||||||
Equity in undistributed subsidiary excess distributions | (40,399 | ) | (4,148 | ) | 26,406 | |||||||
Change in other assets | (1,172 | ) | 373 | 1,143 | ||||||||
Change in accrued expenses and other liabilities | (23 | ) | 2 | (780 | ) | |||||||
Net cash used in operating activities | (980 | ) | (475 | ) | (340 | ) | ||||||
Cash flows from investing activities | ||||||||||||
Principal payments received on ESOP loan | 951 | 912 | 873 | |||||||||
Net cash from investing activities | 951 | 912 | 873 | |||||||||
Cash flows from financing activities | ||||||||||||
Cash dividends paid on common stock | (1,688 | ) | (844 | ) | (633 | ) | ||||||
Net cash used in financing activities | (1,688 | ) | (844 | ) | (633 | ) | ||||||
Net change in cash in subsidiary | (1,717 | ) | (407 | ) | (100 | ) | ||||||
Beginning cash in subsidiary | 11,441 | 11,848 | 11,948 | |||||||||
Ending cash in subsidiary | $ | 9,724 | $ | 11,441 | $ | 11,848 | ||||||
Selected_Quarterly_Financial_D1
Selected Quarterly Financial Data (unaudited) (Tables) | 12 Months Ended | |||||||||||||||||||||||||||||||
Dec. 31, 2014 | Dec. 31, 2013 | |||||||||||||||||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ||||||||||||||||||||||||||||||||
Selected Quarterly Financial Data | ||||||||||||||||||||||||||||||||
For the year ended December 31, 2014 | For the year ended December 31, 2013 | |||||||||||||||||||||||||||||||
First | Second | Third | Fourth | First | Second | Third | Fourth | |||||||||||||||||||||||||
Quarter | Quarter | Quarter | Quarter | Quarter | Quarter | Quarter | Quarter | |||||||||||||||||||||||||
Interest income | $ | 12,086 | $ | 12,482 | $ | 12,368 | $ | 12,413 | Interest income | $ | 12,713 | $ | 12,276 | $ | 12,107 | $ | 12,296 | |||||||||||||||
Interest expense | 812 | 774 | 746 | 714 | Interest expense | 994 | 935 | 882 | 842 | |||||||||||||||||||||||
Net interest income | 11,274 | 11,708 | 11,622 | 11,699 | Net interest income | 11,719 | 11,341 | 11,225 | 11,454 | |||||||||||||||||||||||
Provision for (recovery of) loan losses | 476 | 957 | (1,413 | ) | (756 | ) | Provision for (recovery of) loan losses | 722 | 206 | (437 | ) | (1,178 | ) | |||||||||||||||||||
Net interest income | 10,798 | 10,751 | 13,035 | 12,455 | Net interest income | 10,997 | 11,135 | 11,662 | 12,632 | |||||||||||||||||||||||
Noninterest income | 1,532 | 1,660 | 1,748 | 1,769 | Noninterest income | 3,029 | 1,703 | 1,737 | 1,665 | |||||||||||||||||||||||
Noninterest expense | 11,371 | 10,982 | 11,157 | 10,941 | Noninterest expense | 13,348 | 12,762 | 12,360 | 12,792 | |||||||||||||||||||||||
Income before income taxes | 959 | 1,429 | 3,626 | 3,283 | Income before income taxes | 678 | 76 | 1,039 | 1,505 | |||||||||||||||||||||||
Income tax expense (benefit) | 17 | 25 | 36 | (31,395 | ) | Income tax expense (benefit) | — | — | — | — | ||||||||||||||||||||||
Net income | $ | 942 | $ | 1,404 | $ | 3,590 | $ | 34,678 | Net income | $ | 678 | $ | 76 | $ | 1,039 | $ | 1,505 | |||||||||||||||
Basic earnings per common share | $ | 0.05 | $ | 0.07 | $ | 0.17 | $ | 1.72 | Basic earnings per common share | $ | 0.03 | $ | — | $ | 0.05 | $ | 0.08 | |||||||||||||||
Diluted earnings per common share | $ | 0.05 | $ | 0.07 | $ | 0.17 | $ | 1.72 | Diluted earnings per common share | $ | 0.03 | $ | — | $ | 0.05 | $ | 0.08 | |||||||||||||||
Summary_of_Significant_Account3
Summary of Significant Accounting Policies - Premises and Equipment (Details) | 12 Months Ended |
Dec. 31, 2014 | |
Building and building improvements [Member] | Minimum [Member] | |
Property, Plant and Equipment [Line Items] | |
Premises and Equipment, Useful life | 25 years |
Building and building improvements [Member] | Maximum [Member] | |
Property, Plant and Equipment [Line Items] | |
Premises and Equipment, Useful life | 40 years |
Building Improvements [Member] | Minimum [Member] | |
Property, Plant and Equipment [Line Items] | |
Premises and Equipment, Useful life | 10 years |
Building Improvements [Member] | Maximum [Member] | |
Property, Plant and Equipment [Line Items] | |
Premises and Equipment, Useful life | 20 years |
Furniture and equipment [Member] | Minimum [Member] | |
Property, Plant and Equipment [Line Items] | |
Premises and Equipment, Useful life | 5 years |
Furniture and equipment [Member] | Maximum [Member] | |
Property, Plant and Equipment [Line Items] | |
Premises and Equipment, Useful life | 15 years |
Computer Equipment And Software [Member] | Minimum [Member] | |
Property, Plant and Equipment [Line Items] | |
Premises and Equipment, Useful life | 2 years |
Computer Equipment And Software [Member] | Maximum [Member] | |
Property, Plant and Equipment [Line Items] | |
Premises and Equipment, Useful life | 5 years |
Automobiles [Member] | Maximum [Member] | |
Property, Plant and Equipment [Line Items] | |
Premises and Equipment, Useful life | 4 years |
Summary_of_Significant_Account4
Summary of Significant Accounting Policies - Income Taxes (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||||||||||
Total income tax expense (benefit) | ($31,395) | $36 | $25 | $17 | $0 | $0 | $0 | $0 | ($31,317) | $0 | $0 |
Unrecognized tax benefits | $79 | $65 | $79 | $65 | $125 |
Earnings_Loss_Per_Share_Detail
Earnings (Loss) Per Share (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Earnings (Loss) Per Share, Basic and Diluted [Abstract] | |||||||||||
Net income (loss) available to common stockholders | $34,678 | $3,590 | $1,404 | $942 | $1,505 | $1,039 | $76 | $678 | $40,614 | $3,298 | ($27,109) |
Average common shares outstanding (shares) | 21,101,966 | 21,091,399 | 21,072,966 | ||||||||
Less: | |||||||||||
Unearned ESOP shares (shares) | -905,235 | -1,054,140 | -1,182,495 | ||||||||
Unvested restricted stock shares (shares) | -19,460 | -16,421 | -1,954 | ||||||||
Weighted average common shares outstanding (shares) | 20,177,271 | 20,020,838 | 19,888,517 | ||||||||
Add - Net effect of dilutive stock options and unvested restricted stock | 9,105 | 4,483 | 0 | ||||||||
Weighted average diluted common shares outstanding (shares) | 20,186,376 | 20,025,321 | 19,888,517 | ||||||||
Basic earnings (loss) per common share (usd per share) | $1.72 | $0.17 | $0.07 | $0.05 | $0.08 | $0.05 | $0 | $0.03 | $2.01 | $0.16 | ($1.36) |
Diluted earnings (loss) per common share (usd per share) | $1.72 | $0.17 | $0.07 | $0.05 | $0.08 | $0.05 | $0 | $0.03 | $2.01 | $0.16 | ($1.36) |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 0 | 0 | 0 | ||||||||
Weighted Average Exercise Price of Anti Dilutive Stock Options | $0 | $0 | $0 |
Securities_Fair_Value_of_Secur
Securities - Fair Value of Securites (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Unrealized gains and losses recognized in accumulated other comprehensive income (loss) | ||
Amortized Cost | $119,947 | $109,805 |
Available-for-sale Securities, Gross Unrealized Gain | 1,280 | 1,337 |
Available-for-sale Securities, Gross Unrealized Losses | -53 | -235 |
Certificates of deposit [Member] | ||
Unrealized gains and losses recognized in accumulated other comprehensive income (loss) | ||
Amortized Cost | 86,049 | 65,010 |
Available-for-sale Securities, Gross Unrealized Gain | 0 | 0 |
Available-for-sale Securities, Gross Unrealized Losses | 0 | 0 |
Municipal securities [Member] | ||
Unrealized gains and losses recognized in accumulated other comprehensive income (loss) | ||
Amortized Cost | 180 | |
Available-for-sale Securities, Gross Unrealized Gain | 7 | |
Available-for-sale Securities, Gross Unrealized Losses | 0 | |
Equity mutual fund [Member] | ||
Unrealized gains and losses recognized in accumulated other comprehensive income (loss) | ||
Amortized Cost | 500 | 500 |
Available-for-sale Securities, Gross Unrealized Gain | 9 | 0 |
Available-for-sale Securities, Gross Unrealized Losses | 0 | -3 |
Mortgage - backed securities - residential [Member] | ||
Unrealized gains and losses recognized in accumulated other comprehensive income (loss) | ||
Amortized Cost | 23,433 | 27,229 |
Available-for-sale Securities, Gross Unrealized Gain | 1,218 | 1,295 |
Available-for-sale Securities, Gross Unrealized Losses | -40 | -160 |
Collateralized mortgage obligations - residential [Member] | ||
Unrealized gains and losses recognized in accumulated other comprehensive income (loss) | ||
Amortized Cost | 9,936 | 16,851 |
Available-for-sale Securities, Gross Unrealized Gain | 53 | 35 |
Available-for-sale Securities, Gross Unrealized Losses | -13 | -72 |
SBA-guaranteed loan participation certificates [Member] | ||
Unrealized gains and losses recognized in accumulated other comprehensive income (loss) | ||
Amortized Cost | 29 | 35 |
Available-for-sale Securities, Gross Unrealized Gain | 0 | 0 |
Available-for-sale Securities, Gross Unrealized Losses | $0 | $0 |
Securities_Amortized_Cost_and_
Securities - Amortized Cost and Fair Value (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale Securities Pledged as Collateral | $6,800,000 | $8,000,000 |
Amortized cost and fair values of securities | ||
Total amortized cost | 119,947,000 | 109,805,000 |
Available-for-sale Securities, Debt Securities | 121,174,000 | 110,907,000 |
Certificates of Deposit [Member] | ||
Amortized cost and fair values of securities | ||
Total amortized cost | 86,049,000 | 65,010,000 |
Available-for-sale Securities, Debt Securities | 86,049,000 | 65,010,000 |
Equity mutual fund [Member] | ||
Amortized cost and fair values of securities | ||
Total amortized cost | 500,000 | 500,000 |
Available-for-sale Securities, Debt Securities | 509,000 | 497,000 |
Mortgage - backed securities - residential [Member] | ||
Amortized cost and fair values of securities | ||
Total amortized cost | 23,433,000 | 27,229,000 |
Available-for-sale Securities, Debt Securities | 24,611,000 | 28,364,000 |
Collateralized mortgage obligations - residential [Member] | ||
Amortized cost and fair values of securities | ||
Total amortized cost | 9,936,000 | 16,851,000 |
Available-for-sale Securities, Debt Securities | 9,976,000 | 16,814,000 |
SBA-guaranteed loan participation certificates [Member] | ||
Amortized cost and fair values of securities | ||
Total amortized cost | 29,000 | 35,000 |
Available-for-sale Securities, Debt Securities | $29,000 | $35,000 |
Securities_Proceeds_and_Gross_
Securities - Proceeds and Gross Gains (Losses) From Sale of Securities (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Investments, Debt and Equity Securities [Abstract] | |||
Proceeds | $3,663 | $0 | $0 |
Gross gains | 0 | 0 | 0 |
Gross losses | $7 | $0 | $0 |
Securities_Unrealized_Losses_D
Securities - Unrealized Losses (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Amortized cost and fair values of securities | ||
Less than 12 Months, Fair Value | $0 | $14,536 |
Available-for-sale Securities, Gross Unrealized Losses | 53 | 235 |
12 Months or More, Fair Value | 3,973 | 0 |
Fair Value, Total | 3,973 | 14,536 |
Unrealized loss of securities | ||
Less than 12 Months, Unrealized Loss | 0 | -235 |
12 Months or More, Unrealized Loss | -53 | 0 |
Unrealized Loss, Total | -53 | -235 |
Residential Mortgage Backed Securities [Member] | ||
Amortized cost and fair values of securities | ||
Less than 12 Months, Fair Value | 0 | 2,806 |
Available-for-sale Securities, Gross Unrealized Losses | 40 | 160 |
Fair Value, Total | 2,806 | |
Unrealized loss of securities | ||
Less than 12 Months, Unrealized Loss | 0 | |
12 Months or More, Unrealized Loss | -40 | |
Unrealized Loss, Total | -40 | -160 |
Mortgage Backed Securities Residential [Member] | ||
Amortized cost and fair values of securities | ||
12 Months or More, Fair Value | 2,126 | |
Fair Value, Total | 2,126 | |
Collateralized mortgage obligations - residential [Member] | ||
Amortized cost and fair values of securities | ||
Less than 12 Months, Fair Value | 0 | 11,233 |
Available-for-sale Securities, Gross Unrealized Losses | 13 | 72 |
12 Months or More, Fair Value | 1,847 | |
Fair Value, Total | 1,847 | 11,233 |
Unrealized loss of securities | ||
Less than 12 Months, Unrealized Loss | 0 | |
12 Months or More, Unrealized Loss | -13 | |
Unrealized Loss, Total | -13 | -72 |
Equity Funds [Member] | ||
Amortized cost and fair values of securities | ||
Less than 12 Months, Fair Value | 497 | |
Available-for-sale Securities, Gross Unrealized Losses | 0 | 3 |
Fair Value, Total | 497 | |
Unrealized loss of securities | ||
Unrealized Loss, Total | ($3) |
Loans_Receivable_Details
Loans Receivable (Details) (USD $) | 12 Months Ended | |||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Loans receivable | ||||
Total loans | 1,183,147,000 | $1,111,261,000 | ||
Net deferred loan origination costs | 1,199,000 | 970,000 | ||
Allowance for loan losses | -11,990,000 | -14,154,000 | -18,035,000 | -31,726,000 |
Loans, net | 1,172,356,000 | 1,098,077,000 | ||
One-to-four family residential real estate loans [Member] | ||||
Loans receivable | ||||
Total loans | 180,337,000 | 201,382,000 | ||
Allowance for loan losses | -2,148,000 | -3,848,000 | ||
Multi-family mortgage loans [Member] | ||||
Loans receivable | ||||
Total loans | 480,349,000 | 396,058,000 | ||
Allowance for loan losses | -5,205,000 | -4,444,000 | ||
Nonresidential Real Estate [Member] | ||||
Loans receivable | ||||
Total loans | 234,500,000 | 263,567,000 | ||
Allowance for loan losses | -2,940,000 | -3,735,000 | ||
Construction and land loans [Member] | ||||
Loans receivable | ||||
Total loans | 1,885,000 | 6,570,000 | ||
Allowance for loan losses | -80,000 | -393,000 | ||
Commercial loans [Member] | ||||
Loans receivable | ||||
Total loans | 66,882,000 | 54,255,000 | ||
Allowance for loan losses | -554,000 | -731,000 | ||
Commercial leases [Member] | ||||
Loans receivable | ||||
Total loans | 217,143,000 | 187,112,000 | ||
Allowance for loan losses | -1,009,000 | -946,000 | ||
Consumer loans [Member] | ||||
Loans receivable | ||||
Total loans | 2,051,000 | 2,317,000 | ||
Allowance for loan losses | -54,000 | -57,000 | ||
Nonresidential real estate loans [Member] | ||||
Loans receivable | ||||
Total loans | 234,500,000 | 263,567,000 | ||
No Public Rating [Member] | Maximum [Member] | Commercial leases [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Commercial Leases, Maturity | 5 years | |||
Collateralized Loan [Member] | Multi-family mortgage loans [Member] | ||||
Loans receivable | ||||
Collateralized Loan Receivable, Percentage Of Collateral Located Outside Primary Market Area | 22.00% | |||
Collateralized Loan [Member] | Nonresidential real estate loans [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Projected Cash Flow To Loan Debt Service Requirement | 120.00% | |||
Collateralized Loan [Member] | Maximum [Member] | Multi-family mortgage loans [Member] | ||||
Loans receivable | ||||
Total loans | 3,000,000 | |||
Collateralized Loan [Member] | Maximum [Member] | Nonresidential real estate loans [Member] | ||||
Loans receivable | ||||
Total loans | 3,000,000 | |||
Collateralized Loan [Member] | Minimum [Member] | Multi-family mortgage loans [Member] | ||||
Loans receivable | ||||
Total loans | 250,000 | |||
Collateralized Loan [Member] | Minimum [Member] | Nonresidential real estate loans [Member] | ||||
Loans receivable | ||||
Total loans | 250,000 | |||
Mortgage loans above $400,000 [Member] | Collateralized Loan [Member] | Multi-family mortgage loans [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Projected Cash Flow To Loan Debt Service Requirement | 120.00% | |||
Conforming Loans [Member] | $2,500,000 [Member] | Maximum [Member] | Residential Mortgage [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Mortgage Loans on Real Estate, Face Amount of Mortgages | 417,000 | |||
Adjustable Rate And Fixed Rate Residential Mortgage [Member] | $2,500,000 [Member] | Maximum [Member] | Residential Mortgage [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Mortgage Loans on Real Estate, Face Amount of Mortgages | 2,500,000 | |||
First Mortgage [Member] | Residential Mortgage [Member] | ||||
Loans receivable | ||||
Percent Threshold On Loan To Value Ratios Requiring Private Mortgage Insurance | 80.00% |
Loans_Receivable_Loan_Originat
Loans Receivable - Loan Origination and Risk Management (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, amount | 1,183,147,000 | $1,111,261,000 |
Maximum [Member] | Finance Leases Financing Receivable [Member] | Investment Grade [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Outstanding credit exposure | 15,000,000 | |
Multi-family mortgage loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, amount | 480,349,000 | 396,058,000 |
Multi-family mortgage loans [Member] | Collateralized Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Collateralized Loan Receivable, Percentage Of Collateral Located Outside Primary Market Area | 22.00% | |
Multi-family mortgage loans [Member] | Collateralized Loan [Member] | Mortgage loans above $400,000 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Projected Cash Flow To Loan Debt Service Requirement | 120.00% | |
Multi-family mortgage loans [Member] | Minimum [Member] | Collateralized Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, amount | 250,000 | |
Multi-family mortgage loans [Member] | Maximum [Member] | Collateralized Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, amount | 3,000,000 | |
Loan amount as a percentage to value of property collateralized | 0.8 | |
Nonresidential real estate loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, amount | 234,500,000 | 263,567,000 |
Nonresidential real estate loans [Member] | Collateralized Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Projected Cash Flow To Loan Debt Service Requirement | 120.00% | |
Nonresidential real estate loans [Member] | Collateralized Loan [Member] | Fixed Rate Nonresidential Mortgage [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortization period | 15 years | |
Nonresidential real estate loans [Member] | Minimum [Member] | Collateralized Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, amount | 250,000 | |
Maturity period | 3 years | |
Balloon maturity | 3 years | |
Amortization period | 20 years | |
Nonresidential real estate loans [Member] | Maximum [Member] | Collateralized Loan [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, amount | 3,000,000 | |
Loan amount as a percentage to value of property collateralized | 0.8 | |
Maturity period | 5 years | |
Balloon maturity | 5 years | |
Amortization period | 30 years | |
Residential mortgage [Member] | Minimum [Member] | Fixed rate residential mortgage [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Maturity period | 10 years | |
Residential mortgage [Member] | Minimum [Member] | Adjustable rate residential mortgage [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Maturity period | 1 year | |
Residential mortgage [Member] | Maximum [Member] | Adjustable Rate And Fixed Rate Residential Mortgage [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Maturity period | 30 years | |
Residential mortgage [Member] | Maximum [Member] | Fixed rate residential mortgage [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Maturity period | 30 years | |
Residential mortgage [Member] | Maximum [Member] | Adjustable rate residential mortgage [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Amortization period | 30 years | |
Maturity period | 5 years | |
Residential mortgage [Member] | Maximum [Member] | $2,500,000 [Member] | Adjustable Rate And Fixed Rate Residential Mortgage [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Mortgage Loans on Real Estate, Face Amount of Mortgages | 2,500,000 | |
Residential mortgage [Member] | Maximum [Member] | $2,500,000 [Member] | Conforming Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Mortgage Loans on Real Estate, Face Amount of Mortgages | 417,000 | |
Commercial leases [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, amount | 217,143,000 | 187,112,000 |
Commercial leases [Member] | Minimum [Member] | Internal Credit Assessment [Domain] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Percentage of borrowers with credit rating | 50.00% | |
Commercial leases [Member] | Maximum [Member] | No Public Rating [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Commercial Leases, Maturity | 5 years | |
Outstanding credit exposure | 5,000,000 | |
Commercial leases [Member] | Maximum [Member] | Investment Grade [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Commercial Leases, Maturity | 7 years | |
Outstanding credit exposure | 3,000,000 |
Loans_Receivable_Allowance_for
Loans Receivable - Allowance for Loan Losses (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Allowance for loan losses and the loans receivable by portfolio segment | ||||
Individually evaluated for impairment | $470,000 | $370,000 | ||
Purchased impaired loans | 0 | 5,000 | ||
Collectively evaluated for impairment | 11,520,000 | 13,779,000 | ||
Allowance for loan losses | 11,990,000 | 14,154,000 | 18,035,000 | 31,726,000 |
Individually evaluated for impairment | 14,170,000 | 15,564,000 | ||
Purchased impaired loans | 52,000 | 1,756,000 | ||
Collectively evaluated for impairment | 1,168,925,000 | 1,093,941,000 | ||
Total loans | 1,183,147,000 | 1,111,261,000 | ||
Net deferred loan origination costs | 1,199,000 | 970,000 | ||
Loans, net | 1,172,356,000 | 1,098,077,000 | ||
One-to-four family residential real estate loans [Member] | ||||
Allowance for loan losses and the loans receivable by portfolio segment | ||||
Individually evaluated for impairment | 8,000 | 26,000 | ||
Purchased impaired loans | 0 | 5,000 | ||
Collectively evaluated for impairment | 2,140,000 | 3,817,000 | ||
Allowance for loan losses | 2,148,000 | 3,848,000 | ||
Individually evaluated for impairment | 4,122,000 | 3,692,000 | ||
Purchased impaired loans | 52,000 | 100,000 | ||
Collectively evaluated for impairment | 176,163,000 | 197,590,000 | ||
Total loans | 180,337,000 | 201,382,000 | ||
Multi-family mortgage loans [Member] | ||||
Allowance for loan losses and the loans receivable by portfolio segment | ||||
Individually evaluated for impairment | 226,000 | 255,000 | ||
Purchased impaired loans | 0 | 0 | ||
Collectively evaluated for impairment | 4,979,000 | 4,189,000 | ||
Allowance for loan losses | 5,205,000 | 4,444,000 | ||
Individually evaluated for impairment | 5,282,000 | 7,031,000 | ||
Purchased impaired loans | 0 | 0 | ||
Collectively evaluated for impairment | 475,067,000 | 389,027,000 | ||
Total loans | 480,349,000 | 396,058,000 | ||
Nonresidential Real Estate [Member] | ||||
Allowance for loan losses and the loans receivable by portfolio segment | ||||
Individually evaluated for impairment | 236,000 | 77,000 | ||
Purchased impaired loans | 0 | 0 | ||
Collectively evaluated for impairment | 2,704,000 | 3,658,000 | ||
Allowance for loan losses | 2,940,000 | 3,735,000 | ||
Individually evaluated for impairment | 4,690,000 | 4,381,000 | ||
Purchased impaired loans | 0 | 1,633,000 | ||
Collectively evaluated for impairment | 229,810,000 | 257,553,000 | ||
Total loans | 234,500,000 | 263,567,000 | ||
Construction and land loans [Member] | ||||
Allowance for loan losses and the loans receivable by portfolio segment | ||||
Individually evaluated for impairment | 0 | 12,000 | ||
Purchased impaired loans | 0 | 0 | ||
Collectively evaluated for impairment | 80,000 | 381,000 | ||
Allowance for loan losses | 80,000 | 393,000 | ||
Individually evaluated for impairment | 0 | 383,000 | ||
Purchased impaired loans | 0 | 0 | ||
Collectively evaluated for impairment | 1,885,000 | 6,187,000 | ||
Total loans | 1,885,000 | 6,570,000 | ||
Commercial loans [Member] | ||||
Allowance for loan losses and the loans receivable by portfolio segment | ||||
Individually evaluated for impairment | 0 | 0 | ||
Purchased impaired loans | 0 | 0 | ||
Collectively evaluated for impairment | 554,000 | 731,000 | ||
Allowance for loan losses | 554,000 | 731,000 | ||
Individually evaluated for impairment | 76,000 | 0 | ||
Purchased impaired loans | 0 | 23,000 | ||
Collectively evaluated for impairment | 66,806,000 | 54,232,000 | ||
Total loans | 66,882,000 | 54,255,000 | ||
Commercial leases [Member] | ||||
Allowance for loan losses and the loans receivable by portfolio segment | ||||
Individually evaluated for impairment | 0 | 0 | ||
Purchased impaired loans | 0 | 0 | ||
Collectively evaluated for impairment | 1,009,000 | 946,000 | ||
Allowance for loan losses | 1,009,000 | 946,000 | ||
Individually evaluated for impairment | 0 | 0 | ||
Purchased impaired loans | 0 | 0 | ||
Collectively evaluated for impairment | 217,143,000 | 187,112,000 | ||
Total loans | 217,143,000 | 187,112,000 | ||
Consumer loans [Member] | ||||
Allowance for loan losses and the loans receivable by portfolio segment | ||||
Individually evaluated for impairment | 0 | 0 | ||
Purchased impaired loans | 0 | 0 | ||
Collectively evaluated for impairment | 54,000 | 57,000 | ||
Allowance for loan losses | 54,000 | 57,000 | ||
Individually evaluated for impairment | 0 | 77,000 | ||
Purchased impaired loans | 0 | 0 | ||
Collectively evaluated for impairment | 2,051,000 | 2,240,000 | ||
Total loans | $2,051,000 | $2,317,000 |
Loans_Receivable_Activity_in_t
Loans Receivable - Activity in the Allowance for Loan Losses (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||||||||
Change in Allowance For Loan Losses For Purchased Impaired Loans | $5,000 | $105,000 | |||||||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||||||||
Beginning balance | 14,154,000 | 18,035,000 | 14,154,000 | 18,035,000 | 31,726,000 | ||||||
Loans charged off | -3,974,000 | -5,337,000 | -47,231,000 | ||||||||
Recoveries | 2,546,000 | 2,143,000 | 2,018,000 | ||||||||
Net charge-off | -1,428,000 | -3,194,000 | -45,213,000 | ||||||||
Provision for (recovery of) loan losses | -756,000 | -1,413,000 | 957,000 | 476,000 | -1,178,000 | -437,000 | 206,000 | 722,000 | -736,000 | -687,000 | 31,522,000 |
Ending balance | 11,990,000 | 14,154,000 | 11,990,000 | 14,154,000 | 18,035,000 | ||||||
One-to-four family residential real estate loans [Member] | |||||||||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||||||||
Beginning balance | 3,848,000 | 3,848,000 | |||||||||
Loans charged off | -873,000 | -1,505,000 | -12,366,000 | ||||||||
Recoveries | 418,000 | 447,000 | 233,000 | ||||||||
Ending balance | 2,148,000 | 3,848,000 | 2,148,000 | 3,848,000 | |||||||
Multi-family mortgage loans [Member] | |||||||||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||||||||
Beginning balance | 4,444,000 | 4,444,000 | |||||||||
Loans charged off | -1,230,000 | -1,832,000 | -7,203,000 | ||||||||
Recoveries | 100,000 | 236,000 | 539,000 | ||||||||
Ending balance | 5,205,000 | 4,444,000 | 5,205,000 | 4,444,000 | |||||||
Nonresidential real estate loans [Member] | |||||||||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||||||||
Loans charged off | -1,727,000 | -577,000 | -18,167,000 | ||||||||
Recoveries | 423,000 | 519,000 | 328,000 | ||||||||
Construction and land loans [Member] | |||||||||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||||||||
Beginning balance | 393,000 | 393,000 | |||||||||
Loans charged off | -1,000 | -943,000 | -4,311,000 | ||||||||
Recoveries | 377,000 | 463,000 | 250,000 | ||||||||
Ending balance | 80,000 | 393,000 | 80,000 | 393,000 | |||||||
Commercial loans [Member] | |||||||||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||||||||
Beginning balance | 731,000 | 731,000 | |||||||||
Loans charged off | -123,000 | -425,000 | -4,960,000 | ||||||||
Recoveries | 1,225,000 | 470,000 | 626,000 | ||||||||
Ending balance | 554,000 | 731,000 | 554,000 | 731,000 | |||||||
Commercial leases [Member] | |||||||||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||||||||
Beginning balance | 946,000 | 946,000 | |||||||||
Loans charged off | -8,000 | 0 | -121,000 | ||||||||
Ending balance | 1,009,000 | 946,000 | 1,009,000 | 946,000 | |||||||
Consumer loans [Member] | |||||||||||
Allowance for Loan and Lease Losses [Roll Forward] | |||||||||||
Beginning balance | 57,000 | 57,000 | |||||||||
Loans charged off | -12,000 | -55,000 | -103,000 | ||||||||
Recoveries | 3,000 | 8,000 | 42,000 | ||||||||
Ending balance | $54,000 | $57,000 | $54,000 | $57,000 |
Loans_Receivable_Loans_Individ
Loans Receivable - Loans Individually Evaluated for Impairment (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Loans individually evaluated for impairment by class loans | ||
Loan Balance | $10,532 | $14,410 |
Recorded Investment | 9,279 | 11,348 |
Partial Charge-off | 1,163 | 1,504 |
Average Investment in Impaired Loans | 11,610 | 14,688 |
Interest Income Recognized | 315 | 80 |
Loan Balance (With an allowance recorded) | 5,778 | 5,157 |
Recorded Investment (With an allowance recorded) | 4,814 | 4,146 |
Partial Charge-offs (With an allowance recorded) | 987 | 926 |
Allowance for loan losses (With an allowance recorded) | 470 | 370 |
Average Investment in Impaired Loans (With an allowance recorded) | 4,263 | 6,804 |
Impaired Financing Receivable, with Related Allowance, Interest Income, Cash Basis Method | 115 | 142 |
Impaired Loan, Total | 16,310 | 19,567 |
Recorded Investment, Total | 14,093 | 15,494 |
Partial Charge-offs, Total | 2,150 | 2,430 |
Average Investment in Impaired Loans, Total | 15,873 | 21,492 |
Interest Income Recognized, Total | 430 | 222 |
One-to-four family residential real estate loans [Member] | ||
Loans individually evaluated for impairment by class loans | ||
Loan Balance | 3,246 | 3,656 |
Recorded Investment | 2,656 | 2,540 |
Partial Charge-off | 649 | 1,102 |
Average Investment in Impaired Loans | 2,777 | 3,693 |
Interest Income Recognized | 44 | 20 |
Allowance for loan losses (With an allowance recorded) | 8 | 26 |
One-to-four family residential real estate loans - non-owner occupied loans [Member] | ||
Loans individually evaluated for impairment by class loans | ||
Loan Balance | 1,399 | 875 |
Recorded Investment | 1,373 | 706 |
Partial Charge-off | 27 | 137 |
Average Investment in Impaired Loans | 745 | 591 |
Interest Income Recognized | 76 | 0 |
Loan Balance (With an allowance recorded) | 115 | 490 |
Recorded Investment (With an allowance recorded) | 78 | 438 |
Partial Charge-offs (With an allowance recorded) | 37 | 38 |
Allowance for loan losses (With an allowance recorded) | 8 | 26 |
Average Investment in Impaired Loans (With an allowance recorded) | 202 | 393 |
Impaired Financing Receivable, with Related Allowance, Interest Income, Cash Basis Method | 0 | 2 |
Multi-family mortgage loans [Member] | ||
Loans individually evaluated for impairment by class loans | ||
Loan Balance | 3,174 | 5,466 |
Recorded Investment | 2,593 | 4,449 |
Partial Charge-off | 481 | 4 |
Average Investment in Impaired Loans | 3,419 | 6,098 |
Interest Income Recognized | 120 | 27 |
Loan Balance (With an allowance recorded) | 2,713 | 3,144 |
Recorded Investment (With an allowance recorded) | 2,131 | 2,541 |
Partial Charge-offs (With an allowance recorded) | 624 | 573 |
Allowance for loan losses (With an allowance recorded) | 226 | 255 |
Average Investment in Impaired Loans (With an allowance recorded) | 2,343 | 2,998 |
Impaired Financing Receivable, with Related Allowance, Interest Income, Cash Basis Method | 48 | 125 |
Wholesale commercial lending [Member] | ||
Loans individually evaluated for impairment by class loans | ||
Loan Balance | 519 | |
Recorded Investment | 513 | |
Partial Charge-off | 0 | |
Average Investment in Impaired Loans | 401 | |
Interest Income Recognized | 0 | |
Nonresidential real estate loans [Member] | ||
Loans individually evaluated for impairment by class loans | ||
Loan Balance | 2,118 | 4,062 |
Recorded Investment | 2,068 | 3,313 |
Partial Charge-off | 6 | 253 |
Average Investment in Impaired Loans | 4,175 | 4,054 |
Interest Income Recognized | 72 | 33 |
Loan Balance (With an allowance recorded) | 2,950 | 1,343 |
Recorded Investment (With an allowance recorded) | 2,605 | 1,048 |
Partial Charge-offs (With an allowance recorded) | 326 | 255 |
Allowance for loan losses (With an allowance recorded) | 236 | 77 |
Average Investment in Impaired Loans (With an allowance recorded) | 1,718 | 2,148 |
Impaired Financing Receivable, with Related Allowance, Interest Income, Cash Basis Method | 67 | 15 |
Land loans [Member] | ||
Loans individually evaluated for impairment by class loans | ||
Loan Balance | 274 | |
Recorded Investment | 263 | |
Partial Charge-off | 8 | |
Average Investment in Impaired Loans | 169 | |
Interest Income Recognized | 0 | |
Loan Balance (With an allowance recorded) | 180 | |
Recorded Investment (With an allowance recorded) | 119 | |
Partial Charge-offs (With an allowance recorded) | 60 | |
Allowance for loan losses (With an allowance recorded) | 12 | |
Average Investment in Impaired Loans (With an allowance recorded) | 1,265 | |
Impaired Financing Receivable, with Related Allowance, Interest Income, Cash Basis Method | 0 | |
Commercial loans - secured [Member] | ||
Loans individually evaluated for impairment by class loans | ||
Loan Balance | 76 | 77 |
Recorded Investment | 76 | 77 |
Partial Charge-off | 0 | 0 |
Average Investment in Impaired Loans | 93 | 83 |
Interest Income Recognized | 3 | 0 |
Consumer loans [Member] | ||
Loans individually evaluated for impairment by class loans | ||
Allowance for loan losses (With an allowance recorded) | $0 | $0 |
Loans_Receivable_Carrying_Amou
Loans Receivable - Carrying Amount (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Carrying amount of purchased impaired loans | ||
Purchased impaired loans | $52 | $1,756 |
Carrying amount, net of allowance (None at December 31, 2014, $5 at December 31, 2013) | 52 | 1,751 |
One-to-four family residential real estate loans [Member] | ||
Carrying amount of purchased impaired loans | ||
Purchased impaired loans | 52 | 100 |
Multi-family mortgage loans [Member] | ||
Carrying amount of purchased impaired loans | ||
Purchased impaired loans | 0 | 0 |
Nonresidential real estate loans [Member] | ||
Carrying amount of purchased impaired loans | ||
Purchased impaired loans | 0 | 1,633 |
Commercial loans [Member] | ||
Carrying amount of purchased impaired loans | ||
Purchased impaired loans | $0 | $23 |
Loans_Receivable_Accretable_Yi
Loans Receivable - Accretable Yield (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Accretable yield, or income expected to be collected, related to purchased impaired loans | ||
Beginning balance | $37 | $196 |
Disposals | 0 | 0 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield, Reclassifications from Nonaccretable Difference | -1 | 35 |
Accretion of income | 36 | 194 |
Ending balance | $0 | $37 |
Loans_Receivable_Contractually
Loans Receivable - Contractually Required Payments (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Purchased impaired loans at the date of acquisition | ||
Contractually required payments receivable of loans purchased, Total | $82 | $3,053 |
One-to-four family residential real estate loans [Member] | ||
Purchased impaired loans at the date of acquisition | ||
Contractually required payments receivable of loans purchased, Total | 82 | 832 |
Nonresidential real estate loans [Member] | ||
Purchased impaired loans at the date of acquisition | ||
Contractually required payments receivable of loans purchased, Total | 0 | 1,999 |
Commercial loans [Member] | ||
Purchased impaired loans at the date of acquisition | ||
Contractually required payments receivable of loans purchased, Total | $0 | $222 |
Loans_Receivable_Nonaccrual_Lo
Loans Receivable - Nonaccrual Loans (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Unpaid Principal Balance | $14,742 | $18,072 |
Recorded investment in nonaccrual and loans past due over 90 days | ||
Recorded Investment | 12,161 | 16,424 |
Loans Past Due Over 90 Days, still accruing | 0 | 228 |
One-to-four family residential real estate loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Unpaid Principal Balance | 4,793 | 3,516 |
Recorded investment in nonaccrual and loans past due over 90 days | ||
Recorded Investment | 4,210 | 3,498 |
Loans Past Due Over 90 Days, still accruing | 0 | 0 |
One-to-four family residential real estate loans - non-owner occupied loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Unpaid Principal Balance | 209 | 1,190 |
Recorded investment in nonaccrual and loans past due over 90 days | ||
Recorded Investment | 146 | 1,143 |
Loans Past Due Over 90 Days, still accruing | 0 | 0 |
Multi-family mortgage loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Unpaid Principal Balance | 5,638 | 8,142 |
Recorded investment in nonaccrual and loans past due over 90 days | ||
Recorded Investment | 4,481 | 7,098 |
Loans Past Due Over 90 Days, still accruing | 0 | 228 |
Nonresidential real estate loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Unpaid Principal Balance | 4,023 | 4,748 |
Recorded investment in nonaccrual and loans past due over 90 days | ||
Recorded Investment | 3,245 | 4,214 |
Loans Past Due Over 90 Days, still accruing | 0 | 0 |
Land loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Unpaid Principal Balance | 387 | |
Recorded investment in nonaccrual and loans past due over 90 days | ||
Recorded Investment | 382 | |
Loans Past Due Over 90 Days, still accruing | 0 | |
Commercial loans - secured [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Unpaid Principal Balance | 76 | 77 |
Recorded investment in nonaccrual and loans past due over 90 days | ||
Recorded Investment | 76 | 77 |
Loans Past Due Over 90 Days, still accruing | 0 | 0 |
Consumer loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Unpaid Principal Balance | 3 | 12 |
Recorded investment in nonaccrual and loans past due over 90 days | ||
Recorded Investment | 3 | 12 |
Loans Past Due Over 90 Days, still accruing | $0 | $0 |
Loans_Receivable_Past_Due_Loan
Loans Receivable - Past Due Loans (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment, Past Due [Abstract] | ||
Recorded Investment, 30 to 59 Days Past Due | $5,013 | $8,326 |
Recorded Investment, 60 to 89 Days Past Due | 2,074 | 3,507 |
Recorded Investment, 90 Days or Greater Past Due | 10,677 | 14,545 |
Recorded Investment, Total Past Due | 17,764 | 26,378 |
Recorded investment, loans not past due | 1,158,849 | 1,077,501 |
Recorded investment, total | 1,176,613 | 1,103,879 |
One-to-four family residential real estate loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Abstract] | ||
Recorded Investment, 30 to 59 Days Past Due | 1,415 | 751 |
Recorded Investment, 60 to 89 Days Past Due | 276 | 424 |
Recorded Investment, 90 Days or Greater Past Due | 3,844 | 2,876 |
Recorded Investment, Total Past Due | 5,535 | 4,051 |
Recorded investment, loans not past due | 126,054 | 142,058 |
Recorded investment, total | 131,589 | 146,109 |
One-to-four family residential real estate loans - non-owner occupied loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Abstract] | ||
Recorded Investment, 30 to 59 Days Past Due | 320 | 905 |
Recorded Investment, 60 to 89 Days Past Due | 165 | 0 |
Recorded Investment, 90 Days or Greater Past Due | 146 | 960 |
Recorded Investment, Total Past Due | 631 | 1,865 |
Recorded investment, loans not past due | 47,350 | 52,676 |
Recorded investment, total | 47,981 | 54,541 |
Multi-family mortgage loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Abstract] | ||
Recorded Investment, 30 to 59 Days Past Due | 2,314 | 2,193 |
Recorded Investment, 60 to 89 Days Past Due | 1,187 | 1,716 |
Recorded Investment, 90 Days or Greater Past Due | 3,363 | 6,354 |
Recorded Investment, Total Past Due | 6,864 | 10,263 |
Recorded investment, loans not past due | 334,173 | 303,903 |
Recorded investment, total | 341,037 | 314,166 |
Wholesale commercial lending [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Abstract] | ||
Recorded Investment, 30 to 59 Days Past Due | 0 | 0 |
Recorded Investment, 60 to 89 Days Past Due | 0 | 0 |
Recorded Investment, 90 Days or Greater Past Due | 0 | 0 |
Recorded Investment, Total Past Due | 0 | 0 |
Recorded investment, loans not past due | 135,395 | 78,531 |
Recorded investment, total | 135,395 | 78,531 |
Nonresidential real estate loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Abstract] | ||
Recorded Investment, 30 to 59 Days Past Due | 376 | 4,432 |
Recorded Investment, 60 to 89 Days Past Due | 444 | 1,363 |
Recorded Investment, 90 Days or Greater Past Due | 3,245 | 3,969 |
Recorded Investment, Total Past Due | 4,065 | 9,764 |
Recorded investment, loans not past due | 227,078 | 249,194 |
Recorded investment, total | 231,143 | 258,958 |
Construction loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Abstract] | ||
Recorded Investment, 30 to 59 Days Past Due | 0 | |
Recorded Investment, 60 to 89 Days Past Due | 0 | |
Recorded Investment, 90 Days or Greater Past Due | 0 | |
Recorded Investment, Total Past Due | 0 | |
Recorded investment, loans not past due | 63 | 2,486 |
Recorded investment, total | 63 | 2,486 |
Land loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Abstract] | ||
Recorded Investment, 30 to 59 Days Past Due | 0 | 0 |
Recorded Investment, 60 to 89 Days Past Due | 0 | 0 |
Recorded Investment, 90 Days or Greater Past Due | 0 | 382 |
Recorded Investment, Total Past Due | 0 | 382 |
Recorded investment, loans not past due | 1,814 | 3,684 |
Recorded investment, total | 1,814 | 4,066 |
Commercial loans - Secured [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Abstract] | ||
Recorded Investment, 30 to 59 Days Past Due | 0 | 9 |
Recorded Investment, 60 to 89 Days Past Due | 0 | 0 |
Recorded Investment, 90 Days or Greater Past Due | 76 | 0 |
Recorded Investment, Total Past Due | 76 | 9 |
Recorded investment, loans not past due | 11,863 | 15,971 |
Recorded investment, total | 11,939 | 15,980 |
Commercial loans - Unsecured [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Abstract] | ||
Recorded Investment, 30 to 59 Days Past Due | 0 | 25 |
Recorded Investment, 60 to 89 Days Past Due | 1 | 0 |
Recorded Investment, 90 Days or Greater Past Due | 0 | 0 |
Recorded Investment, Total Past Due | 1 | 25 |
Recorded investment, loans not past due | 1,884 | 4,117 |
Recorded investment, total | 1,885 | 4,142 |
Commercial Loans - Municipal loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Abstract] | ||
Recorded Investment, 30 to 59 Days Past Due | 0 | 0 |
Recorded Investment, 60 to 89 Days Past Due | 0 | 0 |
Recorded Investment, 90 Days or Greater Past Due | 0 | 0 |
Recorded Investment, Total Past Due | 0 | 0 |
Recorded investment, loans not past due | 2,243 | 2,849 |
Recorded investment, total | 2,243 | 2,849 |
Commercial Loans - Warehouse Lines [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Abstract] | ||
Recorded Investment, 30 to 59 Days Past Due | 0 | 0 |
Recorded Investment, 60 to 89 Days Past Due | 0 | 0 |
Recorded Investment, 90 Days or Greater Past Due | 0 | 0 |
Recorded Investment, Total Past Due | 0 | 0 |
Recorded investment, loans not past due | 14,362 | 1,927 |
Recorded investment, total | 14,362 | 1,927 |
Commercial Loans - Health Care [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Abstract] | ||
Recorded Investment, 30 to 59 Days Past Due | 0 | 0 |
Recorded Investment, 60 to 89 Days Past Due | 0 | 0 |
Recorded Investment, 90 Days or Greater Past Due | 0 | 0 |
Recorded Investment, Total Past Due | 0 | 0 |
Recorded investment, loans not past due | 24,154 | 19,381 |
Recorded investment, total | 24,154 | 19,381 |
Aviation [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Abstract] | ||
Recorded investment, loans not past due | 1,111 | |
Recorded investment, total | 1,111 | |
Commercial loans - Other [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Abstract] | ||
Recorded Investment, 30 to 59 Days Past Due | 0 | 0 |
Recorded Investment, 60 to 89 Days Past Due | 0 | 0 |
Recorded Investment, 90 Days or Greater Past Due | 0 | 0 |
Recorded Investment, Total Past Due | 0 | 0 |
Recorded investment, loans not past due | 11,339 | 9,006 |
Recorded investment, total | 11,339 | 9,006 |
Commercial Leases - Investment rated commercial leases [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Abstract] | ||
Recorded Investment, 30 to 59 Days Past Due | 426 | 0 |
Recorded Investment, 60 to 89 Days Past Due | 0 | 0 |
Recorded Investment, 90 Days or Greater Past Due | 0 | 0 |
Recorded Investment, Total Past Due | 426 | 0 |
Recorded investment, loans not past due | 160,830 | 147,374 |
Recorded investment, total | 161,256 | 147,374 |
Commercial Leases - Below Investment Grade [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Abstract] | ||
Recorded Investment, 30 to 59 Days Past Due | 136 | 8 |
Recorded Investment, 60 to 89 Days Past Due | 0 | 0 |
Recorded Investment, 90 Days or Greater Past Due | 0 | 0 |
Recorded Investment, Total Past Due | 136 | 8 |
Recorded investment, loans not past due | 11,246 | 14,739 |
Recorded investment, total | 11,382 | 14,747 |
Commercial Leases - Non Rated [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Abstract] | ||
Recorded Investment, 30 to 59 Days Past Due | 8 | 0 |
Recorded Investment, 60 to 89 Days Past Due | 0 | 0 |
Recorded Investment, 90 Days or Greater Past Due | 0 | 0 |
Recorded Investment, Total Past Due | 8 | 0 |
Recorded investment, loans not past due | 35,672 | 23,175 |
Recorded investment, total | 35,680 | 23,175 |
Commercial Leases - Lease Pools [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Abstract] | ||
Recorded Investment, 30 to 59 Days Past Due | 0 | 0 |
Recorded Investment, 60 to 89 Days Past Due | 0 | 0 |
Recorded Investment, 90 Days or Greater Past Due | 0 | 0 |
Recorded Investment, Total Past Due | 0 | 0 |
Recorded investment, loans not past due | 10,180 | 3,011 |
Recorded investment, total | 10,180 | 3,011 |
Consumer loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Abstract] | ||
Recorded Investment, 30 to 59 Days Past Due | 18 | 3 |
Recorded Investment, 60 to 89 Days Past Due | 1 | 4 |
Recorded Investment, 90 Days or Greater Past Due | 3 | 4 |
Recorded Investment, Total Past Due | 22 | 11 |
Recorded investment, loans not past due | 2,038 | 2,317 |
Recorded investment, total | $2,060 | $2,328 |
Loans_Receivable_Aging_of_Reco
Loans Receivable - Aging of Recorded Investments (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Recorded investment in past due purchased impaired loans | ||
Recorded Investment, 30 to 59 Days Past Due | $5,013 | $8,326 |
Recorded Investment, 60 to 89 Days Past Due | 2,074 | 3,507 |
Recorded Investment, 90 Days or Greater Past Due | 10,677 | 14,545 |
Recorded Investment, Total Past Due | 17,764 | 26,378 |
Recorded Investment, Loans Not Past Due | 1,158,849 | 1,077,501 |
Recorded Investment, Total | 52 | 1,756 |
One-to-four family residential real estate loans - non-owner occupied loans [Member] | ||
Recorded investment in past due purchased impaired loans | ||
Recorded Investment, 30 to 59 Days Past Due | 320 | 905 |
Recorded Investment, 60 to 89 Days Past Due | 165 | 0 |
Recorded Investment, 90 Days or Greater Past Due | 146 | 960 |
Recorded Investment, Total Past Due | 631 | 1,865 |
Recorded Investment, Loans Not Past Due | 47,350 | 52,676 |
Multi-family mortgage loans [Member] | ||
Recorded investment in past due purchased impaired loans | ||
Recorded Investment, 30 to 59 Days Past Due | 2,314 | 2,193 |
Recorded Investment, 60 to 89 Days Past Due | 1,187 | 1,716 |
Recorded Investment, 90 Days or Greater Past Due | 3,363 | 6,354 |
Recorded Investment, Total Past Due | 6,864 | 10,263 |
Recorded Investment, Loans Not Past Due | 334,173 | 303,903 |
Recorded Investment, Total | 0 | 0 |
Construction loans [Member] | ||
Recorded investment in past due purchased impaired loans | ||
Recorded Investment, 30 to 59 Days Past Due | 0 | |
Recorded Investment, 60 to 89 Days Past Due | 0 | |
Recorded Investment, 90 Days or Greater Past Due | 0 | |
Recorded Investment, Total Past Due | 0 | |
Recorded Investment, Loans Not Past Due | 63 | 2,486 |
Land loans [Member] | ||
Recorded investment in past due purchased impaired loans | ||
Recorded Investment, 30 to 59 Days Past Due | 0 | 0 |
Recorded Investment, 60 to 89 Days Past Due | 0 | 0 |
Recorded Investment, 90 Days or Greater Past Due | 0 | 382 |
Recorded Investment, Total Past Due | 0 | 382 |
Recorded Investment, Loans Not Past Due | 1,814 | 3,684 |
Commercial loans - Secured [Member] | ||
Recorded investment in past due purchased impaired loans | ||
Recorded Investment, 30 to 59 Days Past Due | 0 | 9 |
Recorded Investment, 60 to 89 Days Past Due | 0 | 0 |
Recorded Investment, 90 Days or Greater Past Due | 76 | 0 |
Recorded Investment, Total Past Due | 76 | 9 |
Recorded Investment, Loans Not Past Due | 11,863 | 15,971 |
Commercial loans - Unsecured [Member] | ||
Recorded investment in past due purchased impaired loans | ||
Recorded Investment, 30 to 59 Days Past Due | 0 | 25 |
Recorded Investment, 60 to 89 Days Past Due | 1 | 0 |
Recorded Investment, 90 Days or Greater Past Due | 0 | 0 |
Recorded Investment, Total Past Due | 1 | 25 |
Recorded Investment, Loans Not Past Due | 1,884 | 4,117 |
Purchased Impaired Loans [Member] | ||
Recorded investment in past due purchased impaired loans | ||
Recorded Investment, 30 to 59 Days Past Due | 0 | 0 |
Recorded Investment, 60 to 89 Days Past Due | 0 | 0 |
Recorded Investment, 90 Days or Greater Past Due | 52 | 1,754 |
Recorded Investment, Total Past Due | 52 | 1,754 |
Recorded Investment, Loans Not Past Due | 0 | 0 |
Recorded Investment, Total | 52 | 1,754 |
Purchased Impaired Loans [Member] | One-to-four family residential real estate loans - non-owner occupied loans [Member] | ||
Recorded investment in past due purchased impaired loans | ||
Recorded Investment, 30 to 59 Days Past Due | 0 | 0 |
Recorded Investment, 60 to 89 Days Past Due | 0 | 0 |
Recorded Investment, 90 Days or Greater Past Due | 52 | 100 |
Recorded Investment, Total Past Due | 52 | 100 |
Recorded Investment, Loans Not Past Due | 0 | 0 |
Recorded Investment, Total | 52 | 100 |
Purchased Impaired Loans [Member] | Nonresidential real estate loans [Member] | ||
Recorded investment in past due purchased impaired loans | ||
Recorded Investment, 30 to 59 Days Past Due | 0 | 0 |
Recorded Investment, 60 to 89 Days Past Due | 0 | 0 |
Recorded Investment, 90 Days or Greater Past Due | 0 | 1,631 |
Recorded Investment, Total Past Due | 0 | 1,631 |
Recorded Investment, Loans Not Past Due | 0 | 0 |
Recorded Investment, Total | 0 | 1,631 |
Purchased Impaired Loans [Member] | Commercial loans - Secured [Member] | ||
Recorded investment in past due purchased impaired loans | ||
Recorded Investment, 30 to 59 Days Past Due | 0 | 0 |
Recorded Investment, 60 to 89 Days Past Due | 0 | 0 |
Recorded Investment, 90 Days or Greater Past Due | 0 | 23 |
Recorded Investment, Total Past Due | 0 | 23 |
Recorded Investment, Loans Not Past Due | 0 | 0 |
Recorded Investment, Total | $0 | $23 |
Loans_Receivable_Troubled_Debt
Loans Receivable - Troubled Debt Restructuring (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Troubled Debt Restructurings | ||
Financing receivable modifications | $3,003 | $3,337 |
Accrual Loans [Member] | ||
Troubled Debt Restructurings | ||
Financing receivable modifications | 2,427 | 2,611 |
Non Accrual Loans [Member] | ||
Troubled Debt Restructurings | ||
Financing receivable modifications | 576 | 726 |
One-to-four family residential real estate loans - non-owner occupied loans [Member] | Accrual Loans [Member] | ||
Troubled Debt Restructurings | ||
Financing receivable modifications | 1,917 | 2,093 |
One-to-four family residential real estate loans - non-owner occupied loans [Member] | Non Accrual Loans [Member] | ||
Troubled Debt Restructurings | ||
Financing receivable modifications | 230 | 342 |
Multi-family mortgage loans [Member] | Accrual Loans [Member] | ||
Troubled Debt Restructurings | ||
Financing receivable modifications | 510 | 518 |
Multi-family mortgage loans [Member] | Non Accrual Loans [Member] | ||
Troubled Debt Restructurings | ||
Financing receivable modifications | $346 | $384 |
Loans_Receivable_Modified_Trou
Loans Receivable - Modified Troubled Debt Restructuring (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
loan | loan | |
Financing Receivable, Modifications [Line Items] | ||
Loans modified | $1,000,000 | $1,700,000 |
Loans by class modified as TDRs | ||
Number of Loans | 5 | 8 |
Pre-Modification outstanding recorded investment | 695,000 | 1,320,000 |
Post-Modification outstanding recorded investment | 449,000 | 1,295,000 |
Due to permanent reduction in recorded investment | 57,000 | |
One-to-four family residential real estate loans [Member] | ||
Loans by class modified as TDRs | ||
Number of Loans | 4 | 7 |
Pre-Modification outstanding recorded investment | 485,000 | 1,249,000 |
Post-Modification outstanding recorded investment | 444,000 | 1,249,000 |
Due to reduction in interest rate | 19,000 | 0 |
Due to extension of maturity date | 373,000 | 1,249,000 |
Due to permanent reduction in recorded investment | 52,000 | 46,000 |
Total | 444,000 | 1,295,000 |
One-to-four family residential real estate loans - non-owner occupied loans [Member] | ||
Loans by class modified as TDRs | ||
Number of Loans | 0 | 1 |
Pre-Modification outstanding recorded investment | 0 | 71,000 |
Post-Modification outstanding recorded investment | 0 | 46,000 |
Nonresidential real estate [Member] | ||
Loans by class modified as TDRs | ||
Due to permanent reduction in recorded investment | 5,000 | |
Commercial loans - Secured [Member] | ||
Loans by class modified as TDRs | ||
Number of Loans | 1 | 0 |
Pre-Modification outstanding recorded investment | 210,000 | 0 |
Post-Modification outstanding recorded investment | 5,000 | 0 |
Total | $5,000 |
Loans_Receivable_Troubled_Debt1
Loans Receivable - Troubled Debt Restructuring - Payment Defaults (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
loan | loan | |
Financing Receivable, Modifications [Line Items] | ||
Financing Receivable, Modifications, Subsequent Default, Increase In Allowance For Loan And Leases Losses | $0 | |
One-to-four family residential real estate loans [Member] | ||
Loans by class modified as TDRs with payment default | ||
Number of loans | 2 | 0 |
Recorded investment | $78,000 | $0 |
Loans_Receivable_Credit_Qualit
Loans Receivable - Credit Quality Indicators (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
Financing Receivable Credit Quality Indicators | ||
Total loans | $1,183,147,000 | $1,111,261,000 |
One-to-four family residential real estate loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 180,337,000 | 201,382,000 |
One to Four Family Residential Real Estate Loans-Owner occupied [Member] [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 131,991,000 | 146,434,000 |
One-to-four family residential real estate loans - non-owner occupied loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 48,346,000 | 54,948,000 |
Multi-family mortgage loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 480,349,000 | 396,058,000 |
Multi Family Mortgage Loans excluding wholesale [Member] [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 345,111,000 | 316,450,000 |
Wholesale commercial lending [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 135,238,000 | 79,608,000 |
Nonresidential real estate loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 234,500,000 | 263,567,000 |
Construction loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 60,000 | 2,484,000 |
Land loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 1,825,000 | 4,086,000 |
Commercial loans - Secured [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 11,946,000 | 16,002,000 |
Commercial loans - Unsecured [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 1,885,000 | 4,139,000 |
Commercial Loans - Municipal loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 2,213,000 | 2,812,000 |
Commercial Loans - Warehouse Lines [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 11,296,000 | 1,904,000 |
Commercial Loans - Health Care [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 24,127,000 | 19,330,000 |
Commercial loans - other [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 14,307,000 | 8,968,000 |
Commercial Leases - Investment Rated [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 160,208,000 | 146,471,000 |
Commercial Leases - Below Investment Grade [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 11,309,000 | 14,626,000 |
Commercial Leases - Non Rated [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 35,473,000 | 23,015,000 |
Commercial Leases - Lease Pools [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 10,153,000 | 3,000,000 |
Consumer loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 2,051,000 | 2,317,000 |
Nonaccrual [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 12,267,000 | 18,132,000 |
Nonaccrual [Member] | One-to-four family residential real estate loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 4,228,000 | 3,508,000 |
Nonaccrual [Member] | One-to-four family residential real estate loans - non-owner occupied loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 198,000 | 1,245,000 |
Nonaccrual [Member] | Multi-family mortgage loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 4,515,000 | 7,031,000 |
Nonaccrual [Member] | Wholesale commercial lending [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 0 | 0 |
Nonaccrual [Member] | Nonresidential real estate loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 3,247,000 | 5,865,000 |
Nonaccrual [Member] | Construction loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 0 | 0 |
Nonaccrual [Member] | Land loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 0 | 383,000 |
Nonaccrual [Member] | Commercial loans - Secured [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 76,000 | 100,000 |
Nonaccrual [Member] | Commercial loans - Unsecured [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 0 | 0 |
Nonaccrual [Member] | Commercial Loans - Municipal loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 0 | 0 |
Nonaccrual [Member] | Commercial Loans - Warehouse Lines [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 0 | 0 |
Nonaccrual [Member] | Commercial Loans - Health Care [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 0 | 0 |
Nonaccrual [Member] | Commercial loans - other [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 0 | 0 |
Nonaccrual [Member] | Commercial Leases - Investment Rated [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 0 | 0 |
Nonaccrual [Member] | Commercial Leases - Below Investment Grade [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 0 | 0 |
Nonaccrual [Member] | Commercial Leases - Non Rated [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 0 | 0 |
Nonaccrual [Member] | Commercial Leases - Lease Pools [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 0 | 0 |
Nonaccrual [Member] | Consumer loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 3,000 | 0 |
Substandard [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 13,975,000 | 23,362,000 |
Substandard [Member] | One-to-four family residential real estate loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 1,046,000 | 1,941,000 |
Substandard [Member] | One-to-four family residential real estate loans - non-owner occupied loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 964,000 | 693,000 |
Substandard [Member] | Multi-family mortgage loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 3,430,000 | 3,890,000 |
Substandard [Member] | Wholesale commercial lending [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 519,000 | 1,173,000 |
Substandard [Member] | Nonresidential real estate loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 6,698,000 | 13,645,000 |
Substandard [Member] | Construction loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 0 | 0 |
Substandard [Member] | Land loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 613,000 | 832,000 |
Substandard [Member] | Commercial loans - Secured [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 7,000 | 78,000 |
Substandard [Member] | Commercial loans - Unsecured [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 698,000 | 899,000 |
Substandard [Member] | Commercial Loans - Municipal loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 0 | 0 |
Substandard [Member] | Commercial Loans - Warehouse Lines [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 0 | 0 |
Substandard [Member] | Commercial Loans - Health Care [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 0 | 0 |
Substandard [Member] | Commercial loans - other [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 0 | 0 |
Substandard [Member] | Commercial Leases - Investment Rated [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 0 | 0 |
Substandard [Member] | Commercial Leases - Below Investment Grade [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 0 | 0 |
Substandard [Member] | Commercial Leases - Non Rated [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 0 | 210,000 |
Substandard [Member] | Commercial Leases - Lease Pools [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 0 | 0 |
Substandard [Member] | Consumer loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 0 | 1,000 |
Special Mention [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 3,365,000 | 15,807,000 |
Special Mention [Member] | One-to-four family residential real estate loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 615,000 | 269,000 |
Special Mention [Member] | One-to-four family residential real estate loans - non-owner occupied loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 931,000 | 0 |
Special Mention [Member] | Multi-family mortgage loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 609,000 | 6,471,000 |
Special Mention [Member] | Wholesale commercial lending [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 0 | 2,694,000 |
Special Mention [Member] | Nonresidential real estate loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 1,170,000 | 6,306,000 |
Special Mention [Member] | Construction loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 0 | 0 |
Special Mention [Member] | Land loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 0 | 0 |
Special Mention [Member] | Commercial loans - Secured [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 0 | 0 |
Special Mention [Member] | Commercial loans - Unsecured [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 40,000 | 67,000 |
Special Mention [Member] | Commercial Loans - Municipal loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 0 | 0 |
Special Mention [Member] | Commercial Loans - Warehouse Lines [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 0 | 0 |
Special Mention [Member] | Commercial Loans - Health Care [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 0 | 0 |
Special Mention [Member] | Commercial loans - other [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 0 | 0 |
Special Mention [Member] | Commercial Leases - Investment Rated [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 0 | 0 |
Special Mention [Member] | Commercial Leases - Below Investment Grade [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 0 | 0 |
Special Mention [Member] | Commercial Leases - Non Rated [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 0 | 0 |
Special Mention [Member] | Commercial Leases - Lease Pools [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 0 | 0 |
Special Mention [Member] | Consumer loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 0 | 0 |
Pass [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 1,153,540,000 | 1,053,960,000 |
Pass [Member] | One-to-four family residential real estate loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 126,102,000 | 140,716,000 |
Pass [Member] | One-to-four family residential real estate loans - non-owner occupied loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 46,253,000 | 53,010,000 |
Pass [Member] | Multi-family mortgage loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 336,557,000 | 299,058,000 |
Pass [Member] | Wholesale commercial lending [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 134,719,000 | 75,741,000 |
Pass [Member] | Nonresidential real estate loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 223,385,000 | 237,751,000 |
Pass [Member] | Construction loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 60,000 | 2,484,000 |
Pass [Member] | Land loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 1,212,000 | 2,871,000 |
Pass [Member] | Commercial loans - Secured [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 11,863,000 | 15,824,000 |
Pass [Member] | Commercial loans - Unsecured [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 1,147,000 | 3,173,000 |
Pass [Member] | Commercial Loans - Municipal loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 2,213,000 | 2,812,000 |
Pass [Member] | Commercial Loans - Warehouse Lines [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 11,296,000 | 1,904,000 |
Pass [Member] | Commercial Loans - Health Care [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 24,127,000 | 19,330,000 |
Pass [Member] | Aviation [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 1,108,000 | 1,100,000 |
Pass [Member] | Commercial loans - other [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 14,307,000 | 8,968,000 |
Pass [Member] | Commercial Leases - Investment Rated [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 160,208,000 | 146,471,000 |
Pass [Member] | Commercial Leases - Below Investment Grade [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 11,309,000 | 14,626,000 |
Pass [Member] | Commercial Leases - Non Rated [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 35,473,000 | 22,805,000 |
Pass [Member] | Commercial Leases - Lease Pools [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 10,153,000 | 3,000,000 |
Pass [Member] | Consumer loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | $2,048,000 | $2,316,000 |
Loans_Receivable_Narrative_Det
Loans Receivable - Narrative (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Valuation and Qualifying Accounts Disclosure [Line Items] | ||
Change in Allowance For Loan Losses For Purchased Impaired Loans | $5,000 | $105,000 |
Cash flows expected to be collected at acquisition, subject to adjustment with final purchase price adjustment | 18,800,000 | |
Fair value of purchased impaired loans at acquisition | 15,400,000 | |
Reserve For Uncollected Loan Interest | 464,000 | 1,300,000 |
Financing receivable modifications | 3,003,000 | 3,337,000 |
Outstanding Commitments To Borrowers Loans Classified As Troubled Debt Restructurings | 0 | |
Troubled Debt Restructurings Value Of Decreased Interest Income | 2,000 | 0 |
Financing Receivable, Modifications, Increase In Allowance For Loan And Leases Losses | 0 | 0 |
Increased value of allowances for loan losses | 0 | |
Charges regarding TDRs | 200,000 | 0 |
Loans modified | 1,000,000 | 1,700,000 |
Allowance for Loan and Lease Losses [Member] | ||
Valuation and Qualifying Accounts Disclosure [Line Items] | ||
Valuation of reserves allocation | $38,000 | $53,000 |
Secondary_Mortgage_Market_Acti2
Secondary Mortgage Market Activities - Activity For Capitalized Mortgage Servicing Rights And Related Valuation Reserve (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Servicing rights | ||
Beginning of year | $931 | $1,090 |
Additions | 38 | 74 |
Amortized to expense | -135 | -233 |
End of year | 834 | 931 |
Valuation allowance | ||
Beginning of year | 5 | 70 |
Additions expensed | 8 | 0 |
Reductions credited to expense | 0 | -65 |
End of year | 13 | 5 |
Carrying value of mortgage servicing rights | 821 | 926 |
Fair value of mortgage servicing rights | $1,190 | $1,279 |
Secondary_Mortgage_Market_Acti3
Secondary Mortgage Market Activities - Fair Value Assumptions (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value [Abstract] | ||
Prepayment speed | 13.69% | 14.22% |
Discount rate | 12.00% | 12.00% |
Average servicing cost per loan (usd per loan) | 63 | 65 |
Escrow float rate | 1.83% | 1.67% |
Fair value of mortgage servicing rights | $1,190 | |
Prepayment speed | 13.69% | 14.22% |
Decrease in fair value from 10% adverse change, annual prepayment speed | -25 | |
Decrease in fair value from 20% adverse change, annual prepayment speed | -49 | |
Weighted-average annual discount rate | 12.00% | 12.00% |
Decrease in fair value from 10% adverse change | -44 | |
Decrease in fair value from 20% adverse change | ($85) |
Secondary_Mortgage_Market_Acti4
Secondary Mortgage Market Activities - Schedule Of Future Amortization Expense (Details) (Servicing Contracts [Member], USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2014 |
Servicing Contracts [Member] | |
Acquired Finite-Lived Intangible Assets [Line Items] | |
Weighted average amortization period | 61 months |
2015 | $175 |
2016 | 127 |
2017 | 101 |
2018 | 82 |
2019 | $64 |
Secondary_Mortgage_Market_Acti5
Secondary Mortgage Market Activities - Narrative (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Residential Mortgage [Member] | ||
Servicing Rights At Fair Value [Line Items] | ||
Escrow deposit | $3.40 | $3.50 |
Servicing Contracts [Member] | ||
Servicing Rights At Fair Value [Line Items] | ||
Unpaid balance sheet liability | $148.30 | $164.60 |
Premises_and_Equipment_Year_En
Premises and Equipment - Year End (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Property, Plant and Equipment [Line Items] | |||
Property and equipment, gross | $67,469 | $67,577 | |
Accumulated depreciation | -33,183 | -32,249 | |
Property and equipment, net | 34,286 | 35,328 | |
Depreciation | 2,223 | 2,900 | 3,100 |
Land and land improvements [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property and equipment, gross | 13,569 | 13,600 | |
Building and building improvements [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property and equipment, gross | 37,181 | 37,616 | |
Furniture and equipment [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property and equipment, gross | 9,487 | 9,950 | |
Computer equipment [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property and equipment, gross | $7,232 | $6,411 |
Premises_and_Equipment_Schedul
Premises and Equipment - Schedule of Future Minimum Payments for Operating Leases (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Property, Plant, Equipment And Leases [Abstract] | |||
Rent expense, net of sublease income | $387 | $476 | $444 |
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract] | |||
2015 | 440 | ||
2016 | 445 | ||
2017 | 469 | ||
2018 | 479 | ||
2019 | 471 | ||
Thereafter | 5,166 | ||
Total | $7,470 |
Premises_and_Equipment_Schedul1
Premises and Equipment - Schedule of Future Proceeds for Subleases (Details) (USD $) | Dec. 31, 2014 |
In Thousands, unless otherwise specified | |
Property, Plant, Equipment And Leases [Abstract] | |
2015 | $50 |
2016 | 43 |
2017 | 6 |
Total | $99 |
Goodwill_and_Core_Intangible_S
Goodwill and Core Intangible - Schedule of Finite-Lived Intangible Assets (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Finite-lived Intangible Assets [Roll Forward] | |||
Amortization | ($578) | ($605) | ($633) |
Core Deposits [Member] | |||
Finite-lived Intangible Assets [Roll Forward] | |||
Balance at the beginning of the year | 2,433 | 3,038 | |
Amortization | -578 | -605 | -633 |
Additions | 0 | 0 | |
Net Carrying Value | 1,855 | 2,433 | 3,038 |
Gross carrying amount | 5,932 | 5,932 | |
Accumulated amortization | ($4,077) | ($3,499) |
Goodwill_and_Core_Intangible_S1
Goodwill and Core Intangible - Schedule of Finite-Lived Intangible Assets Amortization Expense (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Amortization of intangibles | $578 | $605 | $633 |
Core Deposits [Member] | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Amortization of intangibles | 578 | 605 | 633 |
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract] | |||
2015 | 551 | ||
2016 | 523 | ||
2017 | 496 | ||
2018 | 184 | ||
2019 | $61 |
Deposits_Schedule_of_Deposits_
Deposits - Schedule of Deposits By Type (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Deposits [Abstract] | ||
Noninterest-bearing demand deposits | $130,711 | $126,680 |
Savings deposits | 154,532 | 149,602 |
Money market accounts | 338,499 | 347,017 |
Interest-bearing NOW accounts | 355,112 | 353,787 |
Time Deposits | $232,859 | $275,622 |
Deposits_Time_Deposits_By_Matu
Deposits - Time Deposits, By Maturity (Details) (USD $) | Dec. 31, 2014 |
In Thousands, unless otherwise specified | |
Deposits [Abstract] | |
2015 | $161,020 |
2016 | 53,095 |
2017 | 12,189 |
2018 | 3,183 |
2019 | $3,372 |
Deposits_Narrative_Details
Deposits - Narrative (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Deposits [Abstract] | ||
Time deposits, $100,000 or more | $13.10 | $19.60 |
Borrowings_Details
Borrowings (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
Debt Instrument [Line Items] | ||
Borrowings, Contractual Rate | 0.16% | 0.25% |
Borrowings, Amount | $12,921,000 | $3,055,000 |
Available-for-sale Securities Pledged as Collateral | 6,800,000 | 8,000,000 |
First Mortgage [Member] | ||
Debt Instrument [Line Items] | ||
Collateral | 104,000,000 | |
Multi-family mortgage loans [Member] | ||
Debt Instrument [Line Items] | ||
Collateral | 242,300,000 | |
Federal Home Loan Bank Advances [Member] | Within 1 year [Member] | ||
Debt Instrument [Line Items] | ||
Borrowings, Contractual Rate | 0.13% | 0.00% |
Borrowings, Amount | 10,000,000 | 0 |
Securities Sold under Agreements to Repurchase [Member] | ||
Debt Instrument [Line Items] | ||
Borrowings, Contractual Rate | 0.25% | 0.25% |
Borrowings, Amount | 2,921,000 | 3,055,000 |
Federal Home Loan Bank Borrowings [Member] | ||
Debt Instrument [Line Items] | ||
Increase in line of credit | $308,900,000 |
Income_Taxes_Schedule_of_Incom
Income Taxes - Schedule of Income Tax Expense (Benefit) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Income Tax Disclosure [Abstract] | |||||||||||
Current benefit | $363 | $0 | $0 | ||||||||
Deferred benefit | 3,437 | -1,310 | -11,206 | ||||||||
Deferred tax valuation allowance | -35,117 | 1,310 | 11,206 | ||||||||
Total income tax expense (benefit) | ($31,395) | $36 | $25 | $17 | $0 | $0 | $0 | $0 | ($31,317) | $0 | $0 |
Income_Taxes_Schedule_of_Effec
Income Taxes - Schedule of Effective Income Tax Reconciliation (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Income Tax Disclosure [Abstract] | |||||||||||
Statutory federal corporate tax rate | 34.00% | 34.00% | 34.00% | ||||||||
Benefit computed at the statutory federal tax rate | $3,161 | $1,121 | ($9,217) | ||||||||
State taxes and other, net | 664 | 92 | -1,757 | ||||||||
Income Tax Reconciliation, Other Adjustments | 0 | -2,390 | |||||||||
Bank owned life insurance | -80 | -106 | -149 | ||||||||
ESOP/Share based compensation | 55 | -27 | -83 | ||||||||
Deferred tax valuation allowance | -35,117 | 1,310 | 11,206 | ||||||||
Total income tax expense (benefit) | ($31,395) | $36 | $25 | $17 | $0 | $0 | $0 | $0 | ($31,317) | $0 | $0 |
Effective income tax rate | 0.00% | 0.00% |
Income_Taxes_Schedule_of_Defer
Income Taxes - Schedule of Deferred Tax Assets, Net (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Gross Deferred tax assets: | ||
Allowance for loan losses | $4,598 | $5,567 |
Alternative minimum tax, general business credit and net operating loss carryforward | 28,842 | 30,311 |
Tax deductible goodwill | 2,091 | 2,448 |
Other | 1,703 | 2,167 |
Total deferred tax assets, gross | 37,234 | 40,493 |
Gross Deferred tax liabilities: | ||
Net deferred loan origination costs | -1,587 | -1,426 |
Purchase accounting adjustments | -2,728 | -2,552 |
Other | -805 | -964 |
Unrealized gain on securities | -471 | -434 |
Gross deferred tax liabilities: | -5,591 | -5,376 |
Valuation allowance | 0 | -35,117 |
Net deferred tax asset | $31,643 | $0 |
Income_Taxes_Unrecognized_Tax_
Income Taxes - Unrecognized Tax Balances Roll-forward (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | ||
Beginning of year | $65 | $125 |
Additions based on tax positions related to the current year | 63 | 0 |
Additions for tax positions of prior years | 1 | 2 |
Reductions due to the statute of limitations | -50 | -62 |
End of year | $79 | $65 |
Income_Taxes_Narrative_Details
Income Taxes - Narrative (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Income Tax Disclosure [Abstract] | |||
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount | $35,117,000 | ($1,310,000) | ($11,206,000) |
Deferred tax not recongized | 14,900,000 | 14,900,000 | |
Valuation allowance | $0 | ($35,117,000) | |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate | 34.00% | 34.00% | 34.00% |
Income_Taxes_Narrative_Tax_Car
Income Taxes - Narrative Tax Carryforwards (Details) (USD $) | Dec. 31, 2014 |
In Millions, unless otherwise specified | |
Alternative Minimum Tax Carryforward Axis [Member] | |
Tax Credit Carryforward [Line Items] | |
Tax credit carryforward | $2.60 |
Internal Revenue Service (IRS) [Member] | |
Tax Credit Carryforward [Line Items] | |
Operating loss carryforwards | 55.9 |
Tax credit carryforward | 1.3 |
Alternative minimum tax carryforward subject to expiration | 49.4 |
State and Local Jurisdiction [Member] | |
Tax Credit Carryforward [Line Items] | |
Operating loss carryforwards | 93.6 |
Downers Grove National Bank [Member] | |
Tax Credit Carryforward [Line Items] | |
Operating loss carryforwards | $8.60 |
Regulatory_Matters_Requirement
Regulatory Matters - Requirements (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Capital [Abstract] | ||
Total capital (to risk-weighted assets), Actual, Amount | $176,414 | $160,839 |
Tier One Risk Based Capital [Abstract] | ||
Tier 1 (core) capital (to risk-weighted assets), Actual, Amount | 164,420 | 147,363 |
BankFinancial F.S.B. [Member] | ||
Capital [Abstract] | ||
Total capital (to risk-weighted assets), Actual, Amount | 176,414 | 160,839 |
Total capital (to risk-weighted assets), Minimum required To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount | 87,058 | 86,192 |
Total capital (to risk-weighted assets), Minimum Capital Ratios Established under Capital Plans, Amount | 108,822 | 107,740 |
Tier One Risk Based Capital [Abstract] | ||
Tier 1 (core) capital (to risk-weighted assets), Actual, Amount | 164,420 | 147,363 |
Tier 1 (core) capital (to risk-weighted assets), Minimum required To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount | 43,529 | 43,096 |
Tier 1 (core) capital (to risk-weighted assets), Minimum Capital Ratios Established under Capital Plans, Amount | 65,293 | 64,644 |
Tier One Leverage Capital [Abstract] | ||
Tier 1 (core) capital (to adjusted average total assets), Actual, Amount | 164,420 | 147,363 |
Tier 1 (core) capital (to adjusted average total assets), Minimum required To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount | 57,431 | 57,992 |
Tier 1 (core) capital (to adjusted average total assets), Minimum Capital Ratios Established under Capital Plans, Amount | 71,789 | 72,490 |
Risk Based Ratios [Abstract] | ||
Total capital (to risk-weighted assets), Actual, Ratio | 16.21% | 14.93% |
Total capital (to risk-weighted assets), For Capital Adequacy Purposes, Ratio | 8.00% | 8.00% |
Total capital (to risk-weighted assets), Minimum Capital Ratios Established under Capital Plans, Ratio | 10.00% | 10.00% |
Tier 1 (core) capital (to risk-weighted assets), Actual, Ratio | 15.11% | 13.68% |
Tier 1 (core) capital (to risk-weighted assets), Minimum required To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio | 4.00% | 4.00% |
Tier 1 (core) capital (to risk-weighted assets), Minimum Capital Ratios Established under Capital Plans, Ratio | 6.00% | 6.00% |
Leverage Ratios [Abstract] | ||
Tier 1 (core) capital (to adjusted average total assets), Actual, Ratio | 11.45% | 10.16% |
Tier 1 (core) capital (to adjusted average total assets), Minimum required To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio | 4.00% | 4.00% |
Tier 1 (core) capital (to adjusted average total assets), Minimum Capital Ratios Established under Capital Plans, Ratio | 5.00% | 5.00% |
Consolidated Entities [Member] | ||
Capital [Abstract] | ||
Total capital (to risk-weighted assets), Actual, Amount | 199,284 | 186,251 |
Total capital (to risk-weighted assets), Minimum required To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount | 87,084 | 86,212 |
Tier One Risk Based Capital [Abstract] | ||
Tier 1 (core) capital (to risk-weighted assets), Actual, Amount | 187,290 | 172,775 |
Tier 1 (core) capital (to risk-weighted assets), Minimum required To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount | 43,542 | 43,106 |
Tier One Leverage Capital [Abstract] | ||
Tier 1 (core) capital (to adjusted average total assets), Minimum required To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount | $57,363 | $58,002 |
Risk Based Ratios [Abstract] | ||
Total capital (to risk-weighted assets), Actual, Ratio | 18.31% | 17.28% |
Total capital (to risk-weighted assets), For Capital Adequacy Purposes, Ratio | 8.00% | 8.00% |
Tier 1 (core) capital (to risk-weighted assets), Actual, Ratio | 17.21% | 16.03% |
Tier 1 (core) capital (to risk-weighted assets), Minimum required To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio | 4.00% | 4.00% |
Leverage Ratios [Abstract] | ||
Tier 1 (core) capital (to adjusted average total assets), Actual, Ratio | 13.04% | 11.92% |
Tier 1 (core) capital (to adjusted average total assets), Minimum required To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio | 4.00% | 4.00% |
Regulatory_Matters_Equity_Reco
Regulatory Matters - Equity Reconciliation (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Banking and Thrift [Abstract] | ||
GAAP equity | $192,182 | $150,215 |
Disallowed goodwill and other intangible assets | -1,855 | -2,433 |
Deferred Tax Assets, Net, Current | -25,150 | |
Accumulated gain on securities | -757 | -419 |
Tier 1 capital | 164,420 | 147,363 |
General regulatory loan loss reserves allowed | 11,990 | 13,476 |
Unrealized gains on securities available for sale allowed | 4 | 0 |
Total regulatory capital | $176,414 | $160,839 |
Regulatory_Matters_Narrative_D
Regulatory Matters - Narrative (Details) (Minimum [Member], USD $) | Dec. 31, 2014 |
In Millions, unless otherwise specified | |
Minimum [Member] | |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | |
Cash to be held | $5 |
Employee_Benefit_Plans_Employe
Employee Benefit Plans - Employee Stock Ownership Plan (Details) (USD $) | 12 Months Ended | |||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Jun. 23, 2005 | |
Compensation Related Costs, Retirement and Share Based Payment [Line Items] | ||||
Age for eligibility for Employee Benefits | 21 years | |||
Employee benefit plans, requisite time for service | 1 year | |||
Loan receivable from ESOP | $19,600,000 | |||
ESOP issued price (usd per share) | $10 | |||
Commitment for contribution by Entity, maximum duration | 20 years | |||
ESOP cash contributions | 1,500,000 | 1,500,000 | ||
ESOP, dividends and interest received | 90,000 | 49,000 | ||
ESOP compensation expense | 1,071,000 | 847,000 | 686,000 | |
Employee Stock Ownership Plan (ESOP), Shares in ESOP [Abstract] | ||||
Allocated to participants (shares) | 929,718 | 831,853 | ||
Distributed to participants | -202,235 | -139,584 | ||
Unearned (shares) | 1,027,582 | 1,125,447 | ||
Total ESOP shares (shares) | 1,755,065 | 1,817,716 | ||
Fair value of unearned shares | $12,187,000 | $10,309,000 | ||
Common Stock [Member] | ||||
Compensation Related Costs, Retirement and Share Based Payment [Line Items] | ||||
ESOP shares purchased (shares) | 1,957,300 |
Employee_Benefit_Plans_Employe1
Employee Benefit Plans - Employee Stock Ownership Plan - Profit Sharing 401(k) Plan (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Compensation and Retirement Disclosure [Abstract] | |||
Employee matching ratio | 50.00% | 50.00% | |
Maximum annual contribution per employee | 6.00% | ||
Contribution plan expenses | $348 | $346 | $384 |
Equity_Incentive_Plans_Narrati
Equity Incentive Plans - Narrative (Details) (USD $) | 12 Months Ended | |||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Jun. 27, 2006 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized | $80,000 | |||
Restricted Stock [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share-based compensation expense | $70,000 | $86,000 | $0 | |
Restricted Stock [Member] | Minimum [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Award vesting period | 3 years | |||
Restricted Stock [Member] | Maximum [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Award vesting period | 5 years | |||
2006 Plan [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Number of shares authorized (shares) | 3,425,275 |
Equity_Incentive_Plans_Shchedu
Equity Incentive Plans - Shchedule of Restricted Stock Activity (Details) (Restricted Stock [Member], USD $) | 12 Months Ended | |||||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |||
Restricted Stock [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | ||||||
Shares outstanding, beginning balance (shares) | 25,750 | 0 | [1] | |||
Shares granted (shares) | 0 | 29,000 | ||||
Shares vested (shares) | -8,928 | -3,250 | ||||
Shares forfeited (shares) | 0 | 0 | ||||
Shares outstanding, ending balance (shares) | 16,822 | 25,750 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward] | ||||||
Shares outstanding, beginning balance, Weighted Average Fair Value at Grant Date (usd per share) | $8,140 | $0 | ||||
Shares granted, Weighted Average Fair Value at Grant Date (usd per share) | $0 | $8,140 | ||||
Shares vested, Weighted Average Fair Value at Grant Date (usd per share) | $0 | $0 | ||||
Shares forfeited, Weighted Average Fair Value at Grant Date (usd per share) | $0 | $0 | ||||
Shares outstanding, ending balance, Weighted Average Fair Value at Grant Date (usd per share) | $8,140 | $8,140 | ||||
Shares outstanding, Weighted Average Term to Vest | 5 months 8 days | 1 year 2 months | ||||
Shares outstanding, Aggregate Intrinsic Value | $199 | [2] | $236 | [2] | $0 | [2] |
[1] | The end of period balances consist only of unvested shares. | |||||
[2] | Restricted stock aggregate intrinsic value represents the number of shares of restricted stock multiplied by the market price of the common stock underlying the outstanding shares on the date shown. |
Loan_Commitments_and_Other_Off2
Loan Commitments and Other Off-balance Sheet Activities (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2007 | |
Guarantor Obligations [Line Items] | |||
Duration of extension | 60 days | ||
Commitments to extend credit [Member] | |||
Guarantor Obligations [Line Items] | |||
Notional Or Contractual Credit Extension Commitments | 30,477,000 | $29,253,000 | |
Fixed-rate loan commitments | 20,200,000 | ||
Standby letters of credit [Member] | |||
Guarantor Obligations [Line Items] | |||
Notional Or Contractual Credit Extension Commitments | 472,000 | 922,000 | |
Unused lines of credit [Member] | |||
Guarantor Obligations [Line Items] | |||
Notional Or Contractual Credit Extension Commitments | 109,580,000 | 118,167,000 | |
Commitments to sell mortgages [Member] | |||
Guarantor Obligations [Line Items] | |||
Notional Or Contractual Credit Extension Commitments | 0 | $222,000 | |
Minimum [Member] | Commitments to extend credit [Member] | |||
Guarantor Obligations [Line Items] | |||
Fixed interest rate | 2.00% | ||
Maturity period | 2 years | ||
Maximum [Member] | Commitments to extend credit [Member] | |||
Guarantor Obligations [Line Items] | |||
Fixed interest rate | 4.96% | ||
Maturity period | 30 years | ||
Unrestricted [Member] | Common Class B [Member] | Visa USA [Member] | |||
Guarantor Obligations [Line Items] | |||
Shares owned (shares) | 51,404 | ||
Litigation Escrow Deposit May Be Converted Into Publicly Traded Class A Common Shares [Member] | Common Class B [Member] | Visa USA [Member] | |||
Guarantor Obligations [Line Items] | |||
Shares owned (shares) | 32,398 |
Fair_Value_Financial_Assets_Ac
Fair Value - Financial Assets Accounted for at Fair Value (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Available-for-sale Securities, Debt Securities | $121,174 | $110,907 |
Certificates of deposit [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Available-for-sale Securities, Debt Securities | 86,049 | 65,010 |
Equity Funds [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Available-for-sale Securities, Debt Securities | 509 | 497 |
Municipal Bonds [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Available-for-sale Securities, Debt Securities | 187 | |
Residential Mortgage Backed Securities [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Available-for-sale Securities, Debt Securities | 24,611 | 28,364 |
Collateralized Debt Obligations [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Available-for-sale Securities, Debt Securities | 9,976 | 16,814 |
SBA-guaranteed loan participation certificates [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Available-for-sale Securities, Debt Securities | 29 | 35 |
Nonrecurring [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Available-for-sale Securities, Debt Securities | 121,174 | 110,907 |
Nonrecurring [Member] | Certificates of deposit [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Available-for-sale Securities, Debt Securities | 86,049 | 65,010 |
Nonrecurring [Member] | Municipal securities [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Available-for-sale Securities, Debt Securities | 187 | |
Nonrecurring [Member] | Equity mutual fund [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Available-for-sale Securities, Debt Securities | 509 | 497 |
Nonrecurring [Member] | Mortgage-backed securities - residential [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Available-for-sale Securities, Debt Securities | 24,611 | 28,364 |
Nonrecurring [Member] | Collateralized mortgage obligations - residential [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Available-for-sale Securities, Debt Securities | 9,976 | 16,814 |
Nonrecurring [Member] | SBA-guaranteed loan participation certificates [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Available-for-sale Securities, Debt Securities | 29 | 35 |
Nonrecurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Available-for-sale Securities, Debt Securities | 509 | 497 |
Nonrecurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Certificates of deposit [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Available-for-sale Securities, Debt Securities | 0 | 0 |
Nonrecurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Municipal securities [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Available-for-sale Securities, Debt Securities | 0 | |
Nonrecurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Mortgage-backed securities - residential [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Available-for-sale Securities, Debt Securities | 0 | 0 |
Nonrecurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Collateralized mortgage obligations - residential [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Available-for-sale Securities, Debt Securities | 0 | 0 |
Nonrecurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | SBA-guaranteed loan participation certificates [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Available-for-sale Securities, Debt Securities | 0 | 0 |
Nonrecurring [Member] | Significant Observable Inputs (Level 2) [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Available-for-sale Securities, Debt Securities | 120,665 | 110,410 |
Nonrecurring [Member] | Significant Observable Inputs (Level 2) [Member] | Equity mutual fund [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Available-for-sale Securities, Debt Securities | 0 | 0 |
Nonrecurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Available-for-sale Securities, Debt Securities | 0 | 0 |
Nonrecurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Certificates of deposit [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Available-for-sale Securities, Debt Securities | 0 | 0 |
Nonrecurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Municipal securities [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Available-for-sale Securities, Debt Securities | 0 | |
Nonrecurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Equity mutual fund [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Available-for-sale Securities, Debt Securities | 0 | 0 |
Nonrecurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Mortgage-backed securities - residential [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Available-for-sale Securities, Debt Securities | 0 | 0 |
Nonrecurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Collateralized mortgage obligations - residential [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Available-for-sale Securities, Debt Securities | 0 | 0 |
Nonrecurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | SBA-guaranteed loan participation certificates [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Available-for-sale Securities, Debt Securities | $0 | $0 |
Fair_Value_Assets_Measured_at_
Fair Value - Assets Measured at Fair Value on a Non-Recurring Basis (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value, Impaired loans | $4,344,000 | $3,824,000 |
Fair Value, Other real estate owned | 2,199,000 | 1,776,000 |
Mortgage servicing rights | 1,190,000 | |
One-to-four family residential real estate loans [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value, Impaired loans | 70,000 | |
Fair Value, Other real estate owned | 55,000 | |
Multi-family mortgage loans [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value, Impaired loans | 1,905,000 | |
Fair Value, Other real estate owned | 1,265,000 | |
Nonresidential real estate loans [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value, Impaired loans | 2,369,000 | |
Fair Value, Other real estate owned | 126,000 | |
Land loans [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value, Other real estate owned | 753,000 | |
Nonrecurring [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value, Impaired loans | 4,344,000 | 3,824,000 |
Fair Value, Other real estate owned | 2,199,000 | 1,776,000 |
Mortgage servicing rights | 160,000 | 198,000 |
Nonrecurring [Member] | One-to-four family residential real estate loans [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value, Impaired loans | 70,000 | 460,000 |
Fair Value, Other real estate owned | 55,000 | 297,000 |
Nonrecurring [Member] | Multi-family mortgage loans [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value, Impaired loans | 1,905,000 | 2,286,000 |
Fair Value, Other real estate owned | 1,265,000 | |
Nonrecurring [Member] | Nonresidential real estate loans [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value, Impaired loans | 2,369,000 | 971,000 |
Fair Value, Other real estate owned | 126,000 | 460,000 |
Nonrecurring [Member] | Construction and land loans [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value, Impaired loans | 107,000 | |
Nonrecurring [Member] | Land loans [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value, Other real estate owned | 753,000 | 1,019,000 |
Nonrecurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value, Impaired loans | 0 | 0 |
Fair Value, Other real estate owned | 0 | 0 |
Mortgage servicing rights | 0 | 0 |
Nonrecurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | One-to-four family residential real estate loans [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value, Impaired loans | 0 | 0 |
Fair Value, Other real estate owned | 0 | 0 |
Nonrecurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Multi-family mortgage loans [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value, Impaired loans | 0 | 0 |
Fair Value, Other real estate owned | 0 | |
Nonrecurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Nonresidential real estate loans [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value, Impaired loans | 0 | 0 |
Fair Value, Other real estate owned | 0 | 0 |
Nonrecurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Construction and land loans [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value, Impaired loans | 0 | |
Nonrecurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Land loans [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value, Other real estate owned | 0 | 0 |
Nonrecurring [Member] | Significant Observable Inputs (Level 2) [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value, Impaired loans | 0 | 0 |
Fair Value, Other real estate owned | 0 | 0 |
Nonrecurring [Member] | Significant Observable Inputs (Level 2) [Member] | One-to-four family residential real estate loans [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value, Impaired loans | 0 | 0 |
Fair Value, Other real estate owned | 0 | 0 |
Nonrecurring [Member] | Significant Observable Inputs (Level 2) [Member] | Multi-family mortgage loans [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value, Impaired loans | 0 | 0 |
Fair Value, Other real estate owned | 0 | |
Nonrecurring [Member] | Significant Observable Inputs (Level 2) [Member] | Nonresidential real estate loans [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value, Impaired loans | 0 | 0 |
Fair Value, Other real estate owned | 0 | 0 |
Nonrecurring [Member] | Significant Observable Inputs (Level 2) [Member] | Construction and land loans [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value, Impaired loans | 0 | |
Nonrecurring [Member] | Significant Observable Inputs (Level 2) [Member] | Land loans [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value, Other real estate owned | 0 | 0 |
Nonrecurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value, Impaired loans | 4,344,000 | 3,824,000 |
Fair Value, Other real estate owned | 2,199,000 | 1,776,000 |
Mortgage servicing rights | 198,000 | |
Nonrecurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | One-to-four family residential real estate loans [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value, Impaired loans | 70,000 | 460,000 |
Fair Value, Other real estate owned | 55,000 | 297,000 |
Nonrecurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Multi-family mortgage loans [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value, Impaired loans | 1,905,000 | 2,286,000 |
Fair Value, Other real estate owned | 1,265,000 | |
Nonrecurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Nonresidential real estate loans [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value, Impaired loans | 2,369,000 | 971,000 |
Fair Value, Other real estate owned | 126,000 | 460,000 |
Nonrecurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Construction and land loans [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value, Impaired loans | 107,000 | |
Nonrecurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Land loans [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Fair Value, Other real estate owned | $753,000 | $1,019,000 |
Fair_Value_Level_3_Fair_Value_
Fair Value - Level 3 Fair Value Measurements for Financial Instruments on a Non-recurring Basis (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | $121,174,000 | $110,907,000 |
Fair Value, Impaired loans | 4,344,000 | 3,824,000 |
Fair Value, Other real estate owned | 2,199,000 | 1,776,000 |
Fair value of mortgage servicing rights | 1,190,000 | |
Present value of future servicing income based on default rates | 13.69% | 14.22% |
One to Four Family Residential Real Estate Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value, Impaired loans | 70,000 | |
Fair Value, Other real estate owned | 55,000 | |
One to Four Family Residential Real Estate Loans [Member] | Sales comparison [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value Measurements, Valuation Processes, Description | SalesB comparison | |
Fair Value Measurements, Sensitivity Analysis, Description | Discount applied to valuation | |
One to Four Family Residential Real Estate Loans [Member] | Sales comparison [Member] | Minimum [Member] | Impaired Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range (Weigthed Average), Discount applied to valuation | 4.80% | 7.50% |
One to Four Family Residential Real Estate Loans [Member] | Sales comparison [Member] | Minimum [Member] | Other Real Estate Owned [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range (Weigthed Average), Discount applied to valuation | 6.30% | 5.00% |
One to Four Family Residential Real Estate Loans [Member] | Sales comparison [Member] | Maximum [Member] | Impaired Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range (Weigthed Average), Discount applied to valuation | 4.80% | 12.80% |
One to Four Family Residential Real Estate Loans [Member] | Sales comparison [Member] | Maximum [Member] | Other Real Estate Owned [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range (Weigthed Average), Discount applied to valuation | 7.70% | 9.40% |
One to Four Family Residential Real Estate Loans [Member] | Sales comparison [Member] | Weighted Average [Member] | Impaired Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range (Weigthed Average), Discount applied to valuation | 4.80% | 10.00% |
One to Four Family Residential Real Estate Loans [Member] | Sales comparison [Member] | Weighted Average [Member] | Other Real Estate Owned [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range (Weigthed Average), Discount applied to valuation | 7.00% | 8.00% |
Multi-family mortgage loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value, Impaired loans | 1,905,000 | |
Fair Value, Other real estate owned | 1,265,000 | |
Multi-family mortgage loans [Member] | Sales comparison [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value Measurements, Valuation Processes, Description | Sales comparison | |
Fair Value Measurements, Sensitivity Analysis, Description | Comparison between sales and income approaches | |
Multi-family mortgage loans [Member] | Sales comparison [Member] | Minimum [Member] | Impaired Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range (Weighted Average), Comparison between sales and income approaches | -2.10% | 12.30% |
Multi-family mortgage loans [Member] | Sales comparison [Member] | Minimum [Member] | Other Real Estate Owned [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range (Weigthed Average), Discount applied to valuation | -6.60% | |
Multi-family mortgage loans [Member] | Sales comparison [Member] | Maximum [Member] | Impaired Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range (Weighted Average), Comparison between sales and income approaches | 43.70% | 19.40% |
Multi-family mortgage loans [Member] | Sales comparison [Member] | Maximum [Member] | Other Real Estate Owned [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range (Weigthed Average), Discount applied to valuation | 13.50% | |
Multi-family mortgage loans [Member] | Sales comparison [Member] | Weighted Average [Member] | Impaired Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range (Weighted Average), Comparison between sales and income approaches | 41.00% | 17.00% |
Multi-family mortgage loans [Member] | Sales comparison [Member] | Weighted Average [Member] | Other Real Estate Owned [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range (Weigthed Average), Discount applied to valuation | 0.40% | |
Multi-family mortgage loans [Member] | Income approach [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value Measurements, Valuation Processes, Description | Income approach | |
Fair Value Measurements, Sensitivity Analysis, Description | Cap Rate | |
Multi-family mortgage loans [Member] | Income approach [Member] | Minimum [Member] | Impaired Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range (Weighted Average), Cap Rate | 9.60% | 7.25% |
Multi-family mortgage loans [Member] | Income approach [Member] | Maximum [Member] | Impaired Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range (Weighted Average), Cap Rate | 13.80% | 13.80% |
Multi-family mortgage loans [Member] | Income approach [Member] | Weighted Average [Member] | Impaired Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range (Weighted Average), Cap Rate | 10.00% | 9.00% |
Nonresidential real estate loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value, Impaired loans | 2,369,000 | |
Fair Value, Other real estate owned | 126,000 | |
Nonresidential real estate loans [Member] | Sales comparison [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value Measurements, Valuation Processes, Description | Sales comparison | |
Fair Value Measurements, Sensitivity Analysis, Description | Comparison between sales and income approaches | |
Nonresidential real estate loans [Member] | Sales comparison [Member] | Minimum [Member] | Impaired Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range (Weighted Average), Comparison between sales and income approaches | -2.10% | -3.00% |
Nonresidential real estate loans [Member] | Sales comparison [Member] | Minimum [Member] | Other Real Estate Owned [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range (Weighted Average), Comparison between sales and income approaches | 32.30% | 0.00% |
Nonresidential real estate loans [Member] | Sales comparison [Member] | Maximum [Member] | Impaired Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range (Weighted Average), Comparison between sales and income approaches | 33.90% | 45.10% |
Nonresidential real estate loans [Member] | Sales comparison [Member] | Maximum [Member] | Other Real Estate Owned [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range (Weighted Average), Comparison between sales and income approaches | 32.30% | 10.10% |
Nonresidential real estate loans [Member] | Sales comparison [Member] | Weighted Average [Member] | Impaired Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range (Weighted Average), Comparison between sales and income approaches | 24.00% | 11.00% |
Nonresidential real estate loans [Member] | Sales comparison [Member] | Weighted Average [Member] | Other Real Estate Owned [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range (Weighted Average), Comparison between sales and income approaches | 32.30% | 7.00% |
Nonresidential real estate loans [Member] | Income approach [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value Measurements, Valuation Processes, Description | Income approach | |
Fair Value Measurements, Sensitivity Analysis, Description | Cap Rate | |
Nonresidential real estate loans [Member] | Income approach [Member] | Minimum [Member] | Impaired Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range (Weighted Average), Cap Rate | 10.00% | 10.00% |
Nonresidential real estate loans [Member] | Income approach [Member] | Maximum [Member] | Impaired Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range (Weighted Average), Cap Rate | 11.00% | 10.70% |
Nonresidential real estate loans [Member] | Income approach [Member] | Weighted Average [Member] | Impaired Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range (Weighted Average), Cap Rate | 10.00% | 10.00% |
Construction and land loans [Member] | Sales comparison [Member] | Minimum [Member] | Impaired Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range (Weigthed Average), Discount applied to valuation | 21.20% | |
Construction and land loans [Member] | Sales comparison [Member] | Maximum [Member] | Impaired Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range (Weigthed Average), Discount applied to valuation | 21.20% | |
Construction and land loans [Member] | Sales comparison [Member] | Weighted Average [Member] | Impaired Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range (Weigthed Average), Discount applied to valuation | 21.20% | |
Land [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value, Other real estate owned | 753,000 | |
Land [Member] | Sales comparison [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value Measurements, Valuation Processes, Description | Sales comparison | |
Fair Value Measurements, Sensitivity Analysis, Description | Discount applied to valuation | |
Land [Member] | Sales comparison [Member] | Minimum [Member] | Other Real Estate Owned [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range (Weigthed Average), Discount applied to valuation | -21.90% | 0.00% |
Land [Member] | Sales comparison [Member] | Maximum [Member] | Other Real Estate Owned [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range (Weigthed Average), Discount applied to valuation | 4.20% | 10.20% |
Land [Member] | Sales comparison [Member] | Weighted Average [Member] | Other Real Estate Owned [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Range (Weigthed Average), Discount applied to valuation | -10.00% | 2.00% |
Mortgage servicing rights [Member] | Third party valuation [Member] | Minimum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Present value of future servicing income based on default rates | 11.80% | 11.40% |
Mortgage servicing rights [Member] | Third party valuation [Member] | Maximum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Present value of future servicing income based on default rates | 24.40% | 23.50% |
Mortgage servicing rights [Member] | Third party valuation [Member] | Weighted Average [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Present value of future servicing income based on default rates | 15.40% | 15.21% |
Present value of future servicing income based on default rates | 12.00% | 12.00% |
Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 121,174,000 | 110,907,000 |
Fair Value, Impaired loans | 4,344,000 | 3,824,000 |
Fair Value, Other real estate owned | 2,199,000 | 1,776,000 |
Fair value of mortgage servicing rights | 160,000 | 198,000 |
Fair Value, Measurements, Nonrecurring [Member] | One to Four Family Residential Real Estate Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value, Impaired loans | 70,000 | 460,000 |
Fair Value, Other real estate owned | 55,000 | 297,000 |
Fair Value, Measurements, Nonrecurring [Member] | Multi-family mortgage loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value, Impaired loans | 1,905,000 | 2,286,000 |
Fair Value, Other real estate owned | 1,265,000 | |
Fair Value, Measurements, Nonrecurring [Member] | Nonresidential real estate loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value, Impaired loans | 2,369,000 | 971,000 |
Fair Value, Other real estate owned | 126,000 | 460,000 |
Fair Value, Measurements, Nonrecurring [Member] | Construction and land loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value, Impaired loans | 107,000 | |
Fair Value, Measurements, Nonrecurring [Member] | Land [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value, Other real estate owned | 753,000 | 1,019,000 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 0 | 0 |
Fair Value, Impaired loans | 4,344,000 | 3,824,000 |
Fair Value, Other real estate owned | 2,199,000 | 1,776,000 |
Fair value of mortgage servicing rights | 198,000 | |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | One to Four Family Residential Real Estate Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value, Impaired loans | 70,000 | 460,000 |
Fair Value, Other real estate owned | 55,000 | 297,000 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Multi-family mortgage loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value, Impaired loans | 1,905,000 | 2,286,000 |
Fair Value, Other real estate owned | 1,265,000 | |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Nonresidential real estate loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value, Impaired loans | 2,369,000 | 971,000 |
Fair Value, Other real estate owned | 126,000 | 460,000 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Construction and land loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value, Impaired loans | 107,000 | |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Land [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value, Other real estate owned | 753,000 | 1,019,000 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Mortgage servicing rights [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value of mortgage servicing rights | 160,000 | |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 509,000 | 497,000 |
Fair Value, Impaired loans | 0 | 0 |
Fair Value, Other real estate owned | 0 | 0 |
Fair value of mortgage servicing rights | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Nonrecurring [Member] | One to Four Family Residential Real Estate Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value, Impaired loans | 0 | 0 |
Fair Value, Other real estate owned | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Multi-family mortgage loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value, Impaired loans | 0 | 0 |
Fair Value, Other real estate owned | 0 | |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Nonresidential real estate loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value, Impaired loans | 0 | 0 |
Fair Value, Other real estate owned | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Construction and land loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value, Impaired loans | 0 | |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Land [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value, Other real estate owned | 0 | 0 |
Collateralized Mortgage Obligations Residential [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 9,976,000 | 16,814,000 |
Collateralized Mortgage Obligations Residential [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 0 | 0 |
Collateralized Mortgage Obligations Residential [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 0 | 0 |
Equity Mutual Fund [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 509,000 | 497,000 |
Equity Mutual Fund [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 0 | 0 |
Mortgage Backed Securities Residential [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 24,611,000 | 28,364,000 |
Mortgage Backed Securities Residential [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | 0 | 0 |
Mortgage Backed Securities Residential [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Debt Securities | $0 | $0 |
Fair_Value_Carrying_Amount_and
Fair Value - Carrying Amount and Estimated Fair Value of Finanical Instruments (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||||
Fair value of mortgage servicing rights | $1,190,000 | |||
Financial assets | ||||
Cash and cash equivalents, carrying amount | 59,581,000 | 160,957,000 | 275,764,000 | 120,704,000 |
Marketable Securities | 121,174,000 | 110,907,000 | ||
Securities, carrying amount | 121,174,000 | 110,907,000 | ||
Loans receivable, net of allowance for loan losses, carrying amounts | 1,172,356,000 | 1,098,077,000 | ||
FHLBC stock, carrying amount | 6,257,000 | 6,068,000 | ||
Accrued interest receivable, carrying amount | 3,926,000 | 3,933,000 | ||
Noninterest-bearing demand deposits | 130,711,000 | 126,680,000 | ||
Financial liabilities | ||||
Savings deposits, carrying amount | -154,532,000 | -149,602,000 | ||
Time Deposits | 232,859,000 | 275,622,000 | ||
Borrowings | 12,921,000 | 3,055,000 | ||
Cash and Due from Banks | 9,693,000 | 15,781,000 | ||
Interest-bearing Deposits in Banks and Other Financial Institutions | 49,888,000 | 145,176,000 | ||
Carrying Amount [Member] | ||||
Financial liabilities | ||||
NOW and money market accounts, carrying amount | -693,611,000 | -700,804,000 | ||
Accrued interest payable, carrying amount | -89,000 | -113,000 | ||
Estimated Fair Value [Member] | ||||
Financial assets | ||||
Cash and cash equivalents, fair value | 59,581,000 | 160,957,000 | ||
Securities, fair value | 121,174,000 | 110,907,000 | ||
Loans receivable, net of allowance for loan losses, fair value | 1,170,525,000 | 1,052,935,000 | ||
Accounts interest receivable, fair value | 3,926,000 | 3,933,000 | ||
Financial liabilities | ||||
Non-interest-bearing demand deposits, fair value | -130,711,000 | -126,680,000 | ||
Savings deposits, fair value | -154,532,000 | -149,602,000 | ||
NOW money market accounts, fair value | -693,611,000 | -700,804,000 | ||
Certificates of deposit, fair value | -232,588,000 | -276,022,000 | ||
Borrowings, fair value | -12,908,000 | -3,057,000 | ||
Accrued interest payable, fair value | -89,000 | -113,000 | ||
Estimated Fair Value [Member] | Fair Value, Inputs, Level 1 [Member] | ||||
Financial assets | ||||
Loans receivable, net of allowance for loan losses, fair value | 0 | 0 | ||
Accounts interest receivable, fair value | 0 | 0 | ||
Financial liabilities | ||||
Non-interest-bearing demand deposits, fair value | 0 | 0 | ||
Savings deposits, fair value | 0 | 0 | ||
NOW money market accounts, fair value | 0 | 0 | ||
Certificates of deposit, fair value | 0 | 0 | ||
Borrowings, fair value | 0 | 0 | ||
Accrued interest payable, fair value | 0 | 0 | ||
Estimated Fair Value [Member] | Level 2 [Member] | ||||
Financial assets | ||||
Securities, fair value | 120,665,000 | 110,410,000 | ||
Loans receivable, net of allowance for loan losses, fair value | 1,166,181,000 | 1,049,111,000 | ||
Accounts interest receivable, fair value | 3,926,000 | 3,933,000 | ||
Financial liabilities | ||||
Non-interest-bearing demand deposits, fair value | -130,711,000 | -126,680,000 | ||
Savings deposits, fair value | -154,532,000 | -149,602,000 | ||
NOW money market accounts, fair value | -693,611,000 | -700,804,000 | ||
Certificates of deposit, fair value | -232,588,000 | -276,022,000 | ||
Borrowings, fair value | -12,908,000 | -3,057,000 | ||
Accrued interest payable, fair value | -89,000 | -113,000 | ||
Estimated Fair Value [Member] | Fair Value, Inputs, Level 3 [Member] | ||||
Financial assets | ||||
Cash and cash equivalents, fair value | 0 | 0 | ||
Securities, fair value | 0 | 0 | ||
Loans receivable, net of allowance for loan losses, fair value | 4,344,000 | 3,824,000 | ||
Accounts interest receivable, fair value | 0 | 0 | ||
Financial liabilities | ||||
Non-interest-bearing demand deposits, fair value | 0 | 0 | ||
Savings deposits, fair value | 0 | 0 | ||
NOW money market accounts, fair value | 0 | 0 | ||
Certificates of deposit, fair value | 0 | 0 | ||
Borrowings, fair value | 0 | 0 | ||
Accrued interest payable, fair value | 0 | 0 | ||
Equity Funds [Member] | ||||
Financial assets | ||||
Securities, carrying amount | 509,000 | 497,000 | ||
Fair Value, Measurements, Nonrecurring [Member] | ||||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||||
Fair value of mortgage servicing rights | 160,000 | 198,000 | ||
Financial assets | ||||
Securities, carrying amount | 121,174,000 | 110,907,000 | ||
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||||
Fair value of mortgage servicing rights | 0 | 0 | ||
Financial assets | ||||
Securities, carrying amount | 509,000 | 497,000 | ||
Fair Value, Measurements, Nonrecurring [Member] | Level 2 [Member] | ||||
Financial assets | ||||
Securities, carrying amount | 120,665,000 | 110,410,000 | ||
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||||
Fair value of mortgage servicing rights | 198,000 | |||
Financial assets | ||||
Securities, carrying amount | 0 | 0 | ||
Fair Value, Measurements, Nonrecurring [Member] | Collateralized Mortgage Obligations Residential [Member] | ||||
Financial assets | ||||
Securities, carrying amount | 9,976,000 | 16,814,000 | ||
Fair Value, Measurements, Nonrecurring [Member] | Collateralized Mortgage Obligations Residential [Member] | Fair Value, Inputs, Level 1 [Member] | ||||
Financial assets | ||||
Securities, carrying amount | 0 | 0 | ||
Fair Value, Measurements, Nonrecurring [Member] | Collateralized Mortgage Obligations Residential [Member] | Fair Value, Inputs, Level 3 [Member] | ||||
Financial assets | ||||
Securities, carrying amount | 0 | 0 | ||
Mortgage servicing rights [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||||
Fair value of mortgage servicing rights | $160,000 |
Fair_Value_Narratives_Details
Fair Value - Narratives (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Impaired Loans Carrying Amount | $4,800,000 | $4,200,000 |
Impaired loans, valuation allowance | 500,000 | 400,000 |
Provision for Loan and Lease Losses | -100,000 | |
other real estate owned at carrying value before valuation allowance | 3,100,000 | 2,700,000 |
Other real estate owned at carrying value | 6,358,000 | 6,306,000 |
Real Estate Owned, Valuation Allowance | -896,000 | |
Real Estate Acquired Through Foreclosure Fair Value | 2,199,000 | 1,776,000 |
Other Real Estate, Valuation Adjustments | 438,000 | |
Other real estate owned write downs | -902,000 | |
Fair value of mortgage servicing rights | 1,190,000 | |
Servicing Asset At Amortized Fair Value | 821,000 | 926,000 |
Mortgage servicing rights, pre-tax provision | 8,000 | -65,000 |
Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Real Estate Acquired Through Foreclosure Fair Value | 2,199,000 | 1,776,000 |
Fair value of mortgage servicing rights | 160,000 | 198,000 |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Real Estate Acquired Through Foreclosure Fair Value | 2,199,000 | 1,776,000 |
Fair value of mortgage servicing rights | 198,000 | |
Mortgage servicing rights [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value of mortgage servicing rights | $160,000 |
Company_Only_Condensed_Financi2
Company Only Condensed Financial Information - Statements of Financial Condition (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Jun. 23, 2005 |
In Thousands, unless otherwise specified | |||||
Assets | |||||
Loan receivable from ESOP | $19,600 | ||||
Other assets | 5,781 | 7,627 | |||
Total assets | 1,465,410 | 1,453,594 | |||
Liabilities and Stockholders' Equity | |||||
Total stockholdersb equity | 216,121 | 175,627 | 172,890 | 199,857 | |
Total liabilities and stockholders' equity | 1,465,410 | 1,453,594 | |||
Parent Company [Member] | |||||
Assets | |||||
Cash in subsidiary | 9,724 | 11,441 | 11,848 | 11,948 | |
Loan receivable from ESOP | 12,791 | 13,742 | |||
Investment in subsidiary | 192,182 | 150,215 | |||
Income tax receivable | 1,082 | 0 | |||
Other assets | 342 | 252 | |||
Total assets | 216,121 | 175,650 | |||
Liabilities and Stockholders' Equity | |||||
Accrued expenses and other liabilities | 0 | 23 | |||
Total stockholdersb equity | 216,121 | 175,627 | |||
Total liabilities and stockholders' equity | $216,121 | $175,650 |
Company_Only_Condensed_Financi3
Company Only Condensed Financial Information - Statements of Operations (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Condensed Financial Statements, Captions [Line Items] | |||||||||||
Interest Income (Expense), Net | $11,699 | $11,622 | $11,708 | $11,274 | $11,454 | $11,225 | $11,341 | $11,719 | $46,303 | $45,739 | $56,280 |
Other income | 1,769 | 1,748 | 1,660 | 1,532 | 1,665 | 1,737 | 1,703 | 3,029 | 6,709 | 8,134 | 7,723 |
Other expense | 10,941 | 11,157 | 10,982 | 11,371 | 12,792 | 12,360 | 12,762 | 13,348 | 44,451 | 51,262 | 59,590 |
Income (loss) before income taxes | 3,283 | 3,626 | 1,429 | 959 | 1,505 | 1,039 | 76 | 678 | 9,297 | 3,298 | -27,109 |
Income tax expense (benefit) | -31,395 | 36 | 25 | 17 | 0 | 0 | 0 | 0 | -31,317 | 0 | 0 |
Parent Company [Member] | |||||||||||
Condensed Financial Statements, Captions [Line Items] | |||||||||||
Interest Income (Expense), Net | 584 | 623 | 662 | ||||||||
Other income | 0 | 0 | 57 | ||||||||
Other expense | 1,451 | 1,473 | 1,422 | ||||||||
Income (loss) before income taxes | -867 | -850 | -703 | ||||||||
Income tax expense (benefit) | -1,082 | 0 | 0 | ||||||||
Loss before equity in undistributed subsidiary income | 215 | -850 | -703 | ||||||||
Equity in undistributed subsidiary excess distributions | 40,399 | 4,148 | -26,406 | ||||||||
Net income (loss) | $40,614 | $3,298 | ($27,109) |
Company_Only_Condensed_Financi4
Company Only Condensed Financial Information - Statements of Cash Flows (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Adjustments: | |||
Change in other assets | $2,874 | ($243) | $1,400 |
Net cash from operating activities | 17,845 | 9,779 | 17,013 |
Cash flows from investing activities | |||
Net cash from (used in) investing activities | -87,461 | -91,314 | 192,732 |
Cash flows from financing activities | |||
Cash dividends paid on common stock | -1,688 | -844 | -633 |
Net cash used in financing activities | -31,760 | -33,272 | -54,685 |
Parent Company [Member] | |||
Cash flows from operating activities | |||
Net income (loss) | 40,614 | 3,298 | -27,109 |
Adjustments: | |||
Equity in undistributed subsidiary excess distributions | -40,399 | -4,148 | 26,406 |
Change in other assets | -1,172 | 373 | 1,143 |
Change in accrued expenses and other liabilities | -23 | 2 | -780 |
Net cash from operating activities | -980 | -475 | -340 |
Cash flows from investing activities | |||
Principal payments received on ESOP loan | 951 | 912 | 873 |
Net cash from (used in) investing activities | 951 | 912 | 873 |
Cash flows from financing activities | |||
Cash dividends paid on common stock | -1,688 | -844 | -633 |
Net cash used in financing activities | -1,688 | -844 | -633 |
Net change in cash in subsidiary | -1,717 | -407 | -100 |
Beginning cash in subsidiary | 11,441 | 11,848 | 11,948 |
Ending cash in subsidiary | $9,724 | $11,441 | $11,848 |
Selected_Quarterly_Financial_D2
Selected Quarterly Financial Data (unaudited) (unaudited) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Quarterly Financial Information Disclosure [Abstract] | |||||||||||
Interest income | $12,413 | $12,368 | $12,482 | $12,086 | $12,296 | $12,107 | $12,276 | $12,713 | $49,349 | $49,392 | $60,727 |
Interest expense | 714 | 746 | 774 | 812 | 842 | 882 | 935 | 994 | 3,046 | 3,653 | 4,447 |
Net interest income | 11,699 | 11,622 | 11,708 | 11,274 | 11,454 | 11,225 | 11,341 | 11,719 | 46,303 | 45,739 | 56,280 |
Provision for (recovery of) loan losses | -756 | -1,413 | 957 | 476 | -1,178 | -437 | 206 | 722 | -736 | -687 | 31,522 |
Net interest income | 12,455 | 13,035 | 10,751 | 10,798 | 12,632 | 11,662 | 11,135 | 10,997 | 47,039 | 46,426 | 24,758 |
Noninterest Income | 1,769 | 1,748 | 1,660 | 1,532 | 1,665 | 1,737 | 1,703 | 3,029 | 6,709 | 8,134 | 7,723 |
Noninterest expense | 10,941 | 11,157 | 10,982 | 11,371 | 12,792 | 12,360 | 12,762 | 13,348 | 44,451 | 51,262 | 59,590 |
Income (loss) before income taxes | 3,283 | 3,626 | 1,429 | 959 | 1,505 | 1,039 | 76 | 678 | 9,297 | 3,298 | -27,109 |
Income tax expense (benefit) | -31,395 | 36 | 25 | 17 | 0 | 0 | 0 | 0 | -31,317 | 0 | 0 |
Net income (loss) | $34,678 | $3,590 | $1,404 | $942 | $1,505 | $1,039 | $76 | $678 | $40,614 | $3,298 | ($27,109) |
Earnings Per Share, Basic | $1.72 | $0.17 | $0.07 | $0.05 | $0.08 | $0.05 | $0 | $0.03 | $2.01 | $0.16 | ($1.36) |
Diluted earnings (loss) per common share (usd per share) | $1.72 | $0.17 | $0.07 | $0.05 | $0.08 | $0.05 | $0 | $0.03 | $2.01 | $0.16 | ($1.36) |
Selected_Quarterly_Financial_D3
Selected Quarterly Financial Data (unaudited) (Narrative) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Effect of Fourth Quarter Events [Line Items] | |||||||||||
Net income (loss) | $34,678,000 | $3,590,000 | $1,404,000 | $942,000 | $1,505,000 | $1,039,000 | $76,000 | $678,000 | $40,614,000 | $3,298,000 | ($27,109,000) |
Diluted earnings (loss) per common share (usd per share) | $1.72 | $0.17 | $0.07 | $0.05 | $0.08 | $0.05 | $0 | $0.03 | $2.01 | $0.16 | ($1.36) |
Valuation Allowances and Reserves, Recoveries | 35,100,000 | ||||||||||
Earnings Per Share, Basic | $1.72 | $0.17 | $0.07 | $0.05 | $0.08 | $0.05 | $0 | $0.03 | $2.01 | $0.16 | ($1.36) |
Interest Income (Expense), Net | 11,699,000 | 11,622,000 | 11,708,000 | 11,274,000 | 11,454,000 | 11,225,000 | 11,341,000 | 11,719,000 | 46,303,000 | 45,739,000 | 56,280,000 |
Provision for (recovery of) loan losses | -756,000 | -1,413,000 | 957,000 | 476,000 | -1,178,000 | -437,000 | 206,000 | 722,000 | -736,000 | -687,000 | 31,522,000 |
Loans transferred to held for sale | 0 | 0 | 12,740,000 | ||||||||
Asset management costs | $467,000 | $811,000 | $838,000 | $2,638,000 | $5,211,000 |