Document and Entity Information
Document and Entity Information - shares | 3 Months Ended | |
Mar. 31, 2018 | Apr. 27, 2018 | |
Document and Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Mar. 31, 2018 | |
Document Fiscal Period Focus | Q1 | |
Document Fiscal Year Focus | 2,018 | |
Entity Registrant Name | BankFinancial CORP | |
Entity Central Index Key | 1,303,942 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 17,739,054 | |
Entity Well-known Seasoned Issuer | No | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No |
Consolidated Statements of Fina
Consolidated Statements of Financial Condition - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Assets | ||
Cash and due from other financial institutions | $ 10,613 | $ 13,572 |
Interest-bearing deposits in other financial institutions | 81,963 | 114,020 |
Cash and cash equivalents | 92,576 | 127,592 |
Securities, at fair value | 93,383 | |
Loans receivable, net of allowance for loan losses: March 31, 2018, $8,341 and December 31, 2017, $8,366 | 1,277,553 | 1,314,651 |
Other real estate owned, net | 1,802 | 2,351 |
Stock in Federal Home Loan Bank (FHLB) and Federal Reserve Bank (FRB), at cost | 8,290 | 8,290 |
Premises held-for-sale | 5,581 | 5,667 |
Premises and equipment, net | 24,628 | 24,856 |
Accrued interest receivable | 4,900 | 4,619 |
Core deposit intangible | 164 | 286 |
Bank owned life insurance | 22,925 | 22,859 |
Deferred taxes | 11,363 | 12,563 |
Other assets | 7,486 | 8,441 |
Total assets | 1,559,929 | 1,625,558 |
Deposits | ||
Noninterest-bearing | 232,593 | 234,354 |
Interest-bearing | 1,045,414 | 1,105,697 |
Total deposits | 1,278,007 | 1,340,051 |
Borrowings | 60,983 | 60,768 |
Advance payments by borrowers for taxes and insurance | 9,558 | 11,645 |
Accrued interest payable and other liabilities | 13,029 | 15,460 |
Total liabilities | 1,361,577 | 1,427,924 |
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; 17,877,223 shares issued at March 31, 2018 and 17,958,723 issued at December 31, 2017 | 178 | 179 |
Additional paid-in capital | 152,489 | 153,811 |
Retained earnings | 45,397 | 43,274 |
Accumulated other comprehensive income | 288 | 370 |
Total stockholders’ equity | 198,352 | 197,634 |
Total liabilities and stockholders’ equity | $ 1,559,929 | $ 1,625,558 |
Consolidated Statements of Fin3
Consolidated Statements of Financial Condition (Unaudited) (Parenthetical) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Statement of Financial Position [Abstract] | ||
Allowance for loan losses | $ 8,341 | $ 8,366 |
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 | 17,877,223 | 17,958,723 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Interest and dividend income | ||
Loans, including fees | $ 13,820 | $ 12,760 |
Securities | 464 | 349 |
Other | 464 | 253 |
Total interest income | 14,748 | 13,362 |
Interest expense | ||
Deposits | 1,525 | 1,180 |
Borrowings | 202 | 96 |
Borrowings | 1,727 | 1,276 |
Net interest income | 13,021 | 12,086 |
Provision for (recovery of) loan losses | (258) | 161 |
Net interest income after provision for (recovery of) loan losses | 13,279 | 11,925 |
Noninterest income | ||
Deposit service charges and fees | 978 | 950 |
Loan fee income | 70 | 60 |
Commercial mortgage brokerage fees | 41 | 0 |
Residential mortgage banking fees | 30 | 44 |
Trust and insurance commissions and annuities income | 213 | 249 |
Earnings on bank owned life insurance | 66 | 63 |
Other | 141 | 178 |
Total noninterest income | 1,539 | 1,544 |
Noninterest expense | ||
Compensation and benefits | 5,322 | 6,352 |
Office occupancy and equipment | 1,731 | 1,622 |
Advertising and public relations | 143 | 381 |
Information technology | 641 | 753 |
Supplies, telephone, and postage | 333 | 332 |
Amortization of intangibles | 122 | 129 |
Nonperforming asset management | 202 | 104 |
Operations of other real estate owned | 161 | 213 |
FDIC insurance premiums | 119 | 187 |
Other | 1,185 | 1,193 |
Total noninterest expense | 9,959 | 11,266 |
Income before income taxes | 4,859 | 2,203 |
Income tax expense | 1,300 | 322 |
Net income | $ 3,559 | $ 1,881 |
Basic earnings per common share (usd per share) | $ 0.20 | $ 0.10 |
Diluted earnings per common share (usd per share) | $ 0.20 | $ 0.10 |
Weighted average common shares outstanding (shares) | 17,930,639 | 18,642,054 |
Diluted weighted average common shares outstanding (shares) | 17,931,100 | 18,647,516 |
Consolidated Statements Compreh
Consolidated Statements Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Net income | $ 3,559 | $ 1,881 |
Unrealized holding loss arising during the period | 104 | 20 |
Tax effect | 22 | 7 |
Net of tax | (82) | (13) |
Comprehensive income | $ 3,477 | $ 1,868 |
Consolidated Statements of Chan
Consolidated Statements of Changes In Stockholders' Equity - USD ($) $ in Thousands | Total | Common Stock | Additional Paid-in Capital | Retained Earnings | Unearned Employee Stock Ownership Plan Shares | Accumulated Other Comprehensive Income (Loss) |
Beginning Balance at Dec. 31, 2016 | $ 204,780 | $ 192 | $ 173,047 | $ 39,483 | $ (8,318) | $ 376 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income | 1,881 | 1,881 | ||||
Other comprehensive loss, net of tax | (13) | (13) | ||||
Net exercise of stock options (192,215 shares) | (1,218) | 2 | (1,220) | |||
Prepayment of ESOP Share Acquisition Loan | 1,125 | (8) | (7,185) | 8,318 | ||
Repurchase and retirement of common stock (81,500 and 232,045 shares for quarters ended March 31, 2017 and 2016, respectively) | (3,379) | (2) | (3,377) | |||
Cash dividends declared on common stock ($0.08 and $0.06 per share for quarters ended March 31, 2017 and 2016, respectively) | (1,155) | (1,155) | ||||
Ending Balance at Mar. 31, 2017 | 202,021 | 184 | 161,265 | 40,209 | 0 | 363 |
Beginning Balance at Dec. 31, 2017 | 197,634 | 179 | 153,811 | 43,274 | 0 | 370 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income | 3,559 | 3,559 | ||||
Other comprehensive loss, net of tax | (82) | (82) | ||||
Repurchase and retirement of common stock (81,500 and 232,045 shares for quarters ended March 31, 2017 and 2016, respectively) | (1,323) | (1) | (1,322) | |||
Cash dividends declared on common stock ($0.08 and $0.06 per share for quarters ended March 31, 2017 and 2016, respectively) | (1,436) | (1,436) | ||||
Ending Balance at Mar. 31, 2018 | $ 198,352 | $ 178 | $ 152,489 | $ 45,397 | $ 0 | $ 288 |
Consolidated Statements of Cha7
Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) - $ / shares | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Statement of Stockholders' Equity [Abstract] | ||
Cash dividends declared on common stock (in dollars per share) | $ 0.08 | $ 0.06 |
Repurchase and retirement of common stock (in shares) | 81,500 | 232,045,000 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flow - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Cash flows from operating activities | ||
Net income | $ 3,559 | $ 1,881 |
Adjustments to reconcile to net income to net cash from operating activities | ||
Provision for (recovery of) loan losses | (258) | 161 |
Prepayment of ESOP Share Acquisition Loan | 0 | 1,125 |
Depreciation and amortization | 916 | 958 |
Amortization of premiums and discounts on securities and loans | 3 | (65) |
Amortization of core deposit intangible | 122 | 129 |
Amortization of servicing assets | 27 | 31 |
Net change in net deferred loan origination costs | 36 | 129 |
Loss on sale of other real estate owned | 21 | 16 |
Net gain on sale of loans | 0 | (7) |
Loans originated for sale | 0 | (239) |
Proceeds from sale of loans | 0 | 246 |
Other real estate owned valuation adjustments | 25 | 20 |
Net change in: | ||
Accrued interest receivable | (281) | (97) |
Earnings on bank owned life insurance | (66) | (63) |
Other assets | 2,037 | 1,834 |
Accrued interest payable and other liabilities | (2,431) | (2,701) |
Net cash from operating activities | 3,710 | 3,358 |
Securities | ||
Proceeds from maturities | 27,499 | 13,623 |
Proceeds from principal repayments | 1,030 | 637 |
Purchases of securities | (37,923) | (17,302) |
Loans receivable | ||
Loan participations sold | 0 | 1,615 |
Principal payments on loans receivable | 226,439 | 136,090 |
Purchase of loans | 0 | (20,406) |
Originated for investment | (189,659) | (125,813) |
Proceeds of redemption of FHLB stock | 0 | 3,514 |
Purchase of FHLB and FRB stock | 0 | 11 |
Proceeds from sale of other real estate owned | 713 | 494 |
Purchase of premises and equipment, net | (150) | (179) |
Net cash from (used in) investing activities | 27,949 | (7,738) |
Cash flows from financing activities | ||
Net change in deposits | (62,044) | (10,108) |
Net change in borrowings | 215 | 977 |
Net change in advance payments by borrowers for taxes and insurance | (2,087) | (1,973) |
Payments for Repurchase of Common Stock | (1,323) | (3,379) |
Payments of Ordinary Dividends, Common Stock | (1,436) | (1,155) |
Payments for Deposits Applied to Debt Retirements | 0 | 1,200 |
Net cash used in financing activities | (66,675) | (16,838) |
Net change in cash and cash equivalents | (35,016) | (21,218) |
Beginning cash and cash equivalents | 127,592 | 96,684 |
Ending cash and cash equivalents | 92,576 | 75,466 |
Supplemental disclosures of cash flow information: | ||
Interest paid | 1,694 | 1,243 |
Income taxes paid | 43 | 1 |
Loans transferred to other real estate owned | $ 562 | $ 1,936 |
Summary of Significant Accounti
Summary of Significant Accounting Policies (Notes) | 3 Months Ended |
Mar. 31, 2018 | |
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, NA (the “Bank”). The interim unaudited consolidated financial statements include the accounts and transactions of BankFinancial Corporation, the Bank, and the Bank’s wholly-owned subsidiaries, Financial Assurance Services, Inc. and BFIN Asset Recovery Company, LLC (collectively, “the Company”), and reflect all normal and recurring adjustments that are, in the opinion of management, considered necessary for a fair presentation of the financial condition and results of operations for the periods presented. Such adjustments are the only adjustments reflected in the accompanying financial statements. All significant intercompany accounts and transactions have been eliminated. The results of operations for the three -month period ended March 31, 2018 are not necessarily indicative of the results of operations that may be expected for the year ending December 31, 2018 or for any other period. Certain information and note disclosures normally included in financial statements prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”) have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission. Use of Estimates : To prepare financial statements in conformity with 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 future results could differ. Reclassifications : Certain reclassifications have been made in the prior period’s financial statements to conform them to the current period’s presentation. These unaudited consolidated financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2017 , as filed with the Securities and Exchange Commission. Recent Accounti |
Earnings Per Share (Notes)
Earnings Per Share (Notes) | 3 Months Ended |
Mar. 31, 2018 | |
Earnings Per Share [Abstract] | |
Earnings Per Share [Text Block] | ngs per share reflect earnings 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 BankFinancial, NA Employee Stock Ownership Plan (the "ESOP") shares in 2017 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. Three Months Ended 2018 2017 Net income available to common stockholders $ 3,559 $ 1,881 Average common shares outstanding 17,931,579 19,243,941 Less: Unearned ESOP shares — (600,947 ) Unvested restricted stock shares (940 ) (940 ) Weighted average common shares outstanding 17,930,639 18,642,054 Add - Net effect of dilutive unvested restricted stock 461 5,462 Diluted weighted average common shares outstanding 17,931,100 18,647,516 Basic earnings per common share $ 0.20 $ 0.10 Diluted earnings per common share $ 0.20 $ 0.10 |
Securities (Notes)
Securities (Notes) | 3 Months Ended |
Mar. 31, 2018 | |
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 are shown below. Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value March 31, 2018 Certificates of deposit $ 86,340 $ — $ — $ 86,340 Mortgage-backed securities - residential 11,146 441 (43 ) 11,544 Collateralized mortgage obligations - residential 4,272 16 (11 ) 4,277 SBA-guaranteed loan participation certificates 9 — — 9 $ 101,767 $ 457 $ (54 ) $ 102,170 December 31, 2017 Certificates of deposit $ 75,916 $ — $ — $ 75,916 Equity mutual fund 500 — (1 ) 499 Mortgage-backed securities - residential 11,969 520 (17 ) 12,472 Collateralized mortgage obligations - residential 4,481 16 (11 ) 4,486 SBA-guaranteed loan participation certificates 10 — — 10 $ 92,876 $ 536 $ (29 ) $ 93,383 The mortgage-backed securities and collateralized mortgage obligations reflected in the preceding table were issued by U.S. government-sponsored entities or 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 March 31, 2018 and December 31, 2017 . The amortized cost and fair values of securities 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. March 31, 2018 Amortized Cost Fair Value Due in one year or less $ 86,340 $ 86,340 Mortgage-backed securities - residential 11,146 11,544 Collateralized mortgage obligations - residential 4,272 4,277 SBA-guaranteed loan participation certificates 9 9 $ 101,767 $ 102,170 There were no sales of securities for the periods ended March 31, 2018 and 2017 . Securities with unrealized losses not recognized in income are as follows: Less than 12 Months 12 Months or More Total Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss March 31, 2018 Mortgage-backed securities - residential $ — $ — $ 1,111 $ (43 ) $ 1,111 $ (43 ) Collateralized mortgage obligations - residential — — 1,983 (11 ) 1,983 (11 ) $ — $ — $ 3,094 $ (54 ) $ 3,094 $ (54 ) December 31, 2017 Equity mutual fund $ 499 $ (1 ) $ — $ — $ 499 $ (1 ) Mortgage-backed securities - residential — — 1,149 (17 ) 1,149 (17 ) Collateralized mortgage obligations - residential — — 2,083 (11 ) 2,083 (11 ) $ 499 $ (1 ) $ 3,232 $ (28 ) $ 3,731 $ (29 ) 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 mortgage-backed securities and collateralized mortgage obligations that the Company holds in its investment portfolio were in an unrealized loss position at March 31, 2018 , but the unrealized losses were not considered significant under the Company’s impairment testing methodology. In addition, the Company does not intend to sell these securities, and it is likely that the Company will not be required to sell these securities before their anticipated recovery occurs. |
Loans Receivable (Notes)
Loans Receivable (Notes) | 3 Months Ended |
Mar. 31, 2018 | |
Receivables [Abstract] | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | Loans receivable are as follows: March 31, 2018 December 31, 2017 One-to-four family residential real estate $ 92,056 $ 97,814 Multi-family mortgage 578,144 588,383 Nonresidential real estate 163,856 169,971 Construction and land 1,328 1,358 Commercial loans 162,564 152,552 Commercial leases 285,222 310,076 Consumer 1,494 1,597 1,284,664 1,321,751 Net deferred loan origination costs 1,230 1,266 Allowance for loan losses (8,341 ) (8,366 ) Loans, net $ 1,277,553 $ 1,314,651 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 evaluated for impairment Collectively evaluated for impairment Total Individually evaluated for impairment Collectively evaluated for impairment Total March 31, 2018 One-to-four family residential real estate $ — $ 765 $ 765 $ 3,576 $ 88,480 $ 92,056 Multi-family mortgage — 3,866 3,866 947 577,197 578,144 Nonresidential real estate — 1,577 1,577 — 163,856 163,856 Construction and land — 32 32 — 1,328 1,328 Commercial loans — 1,441 1,441 — 162,564 162,564 Commercial leases — 650 650 — 285,222 285,222 Consumer — 10 10 — 1,494 1,494 $ — $ 8,341 $ 8,341 $ 4,523 $ 1,280,141 1,284,664 Net deferred loan origination costs 1,230 Allowance for loan losses (8,341 ) Loans, net $ 1,277,553 Allowance for loan losses Loan Balances Individually evaluated for impairment Collectively evaluated for impairment Total Individually evaluated for impairment Collectively evaluated for impairment Total December 31, 2017 One-to-four family residential real estate $ — $ 850 $ 850 $ 4,265 $ 93,549 $ 97,814 Multi-family mortgage — 3,849 3,849 949 587,434 588,383 Nonresidential real estate — 1,605 1,605 — 169,971 169,971 Construction and land — 32 32 — 1,358 1,358 Commercial loans — 1,357 1,357 — 152,552 152,552 Commercial leases — 655 655 — 310,076 310,076 Consumer — 18 18 — 1,597 1,597 $ — $ 8,366 $ 8,366 $ 5,214 $ 1,316,537 1,321,751 Net deferred loan origination costs 1,266 Allowance for loan losses (8,366 ) Loans, net $ 1,314,651 Activity in the allowance for loan losses is as follows: Three Months Ended 2018 2017 Beginning balance $ 8,366 $ 8,127 Loans charged off: One-to-four family residential real estate (97 ) (171 ) Multi-family mortgage — (3 ) Nonresidential real estate — (165 ) (97 ) (339 ) Recoveries: One-to-four family residential real estate 99 6 Multi-family mortgage 8 11 Commercial loans 223 5 330 22 Net recoveries (charge-offs) 233 (317 ) Provision for (recovery of) loan losses (258 ) 161 Ending balance $ 8,341 $ 7,971 The following tables present the recorded investment in nonaccrual loans and loans past due over 90 days still on accrual by class of loans: Loan Balance Recorded Investment Loans Past Due Over 90 Days, Still Accruing March 31, 2018 One-to-four family residential real estate $ 1,675 $ 1,543 $ — One-to-four family residential real estate – non-owner occupied 86 46 — Multi-family mortgage - Illinois 375 369 — $ 2,136 $ 1,958 $ — December 31, 2017 One-to-four family residential real estate $ 3,413 $ 1,918 $ — One-to-four family residential real estate – non-owner occupied 308 109 — Multi-family mortgage - Illinois 376 363 — $ 4,097 $ 2,390 $ — Nonaccrual loans and impaired loans are defined differently. Some loans may be included in both categories, and some loans may only be included in one category. Nonaccrual loans include both smaller balance homogeneous loans that are collectively evaluated for impairment and individually classified impaired loans. The Company’s reserve for uncollected loan interest was $76,000 and $103,000 at March 31, 2018 and December 31, 2017 , respectively. When a loan is on nonaccrual 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. The following tables present the aging of the recorded investment of loans at March 31, 2018 by class of loans: 30-59 Days Past Due 60-89 Days Past Due 90 Days or Greater Past Due Total Past Due Loans Not Past Due Total One-to-four family residential real estate loans $ 1,875 $ 58 $ 1,398 $ 3,331 $ 68,216 $ 71,547 One-to-four family residential real estate loans – non-owner occupied 368 10 46 424 19,676 20,100 Multi-family mortgage - Illinois 268 — 271 539 273,950 274,489 Multi-family mortgage - Other — — — — 299,725 299,725 Nonresidential real estate 940 — — 940 161,265 162,205 Construction — — — — 1,096 1,096 Land — — — — 234 234 Commercial loans: Regional commercial banking — — — — 48,160 48,160 Health care — — — — 69,980 69,980 Direct commercial lessor — — — — 44,939 44,939 Commercial leases: Investment rated commercial leases 1,727 152 — 1,879 185,386 187,265 Other commercial leases 572 255 — 827 98,900 99,727 Consumer — 22 — 22 1,481 1,503 $ 5,750 $ 497 $ 1,715 $ 7,962 $ 1,273,008 $ 1,280,970 The following tables present the aging of the recorded investment of loans at December 31, 2017 by class of loans: 30-59 Days Past Due 60-89 Days Past Due 90 Days or Total Past Due Loans Not Past Due Total One-to-four family residential real estate loans $ 86 $ 99 $ 1,801 $ 1,986 $ 74,216 $ 76,202 One-to-four family residential real estate loans – non-owner occupied 10 3 86 99 20,944 21,043 Multi-family mortgage - Illinois 172 — 364 536 287,171 287,707 Multi-family mortgage - Other — — — — 296,440 296,440 Nonresidential real estate 608 — — 608 166,071 166,679 Construction — — — — 1,103 1,103 Land — — — — 259 259 Commercial loans: Regional commercial banking — — — — 40,935 40,935 Health care — — — — 71,738 71,738 Direct commercial lessor — — — — 40,237 40,237 Commercial leases: Investment rated commercial leases 934 — — 934 207,747 208,681 Other commercial leases 288 — — 288 102,873 103,161 Consumer — — — — 1,605 1,605 $ 2,098 $ 102 $ 2,251 $ 4,451 $ 1,311,339 $ 1,315,790 The Company evaluates loan extensions or modifications in accordance with FASB ASC 310–40 with respect to the classification of the loan as a Troubled Debt Restructuring ("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 $17,000 of TDRs at March 31, 2018 and December 31, 2017 . No specific valuation reserves were allocated to those loans at March 31, 2018 and December 31, 2017 . The Company had no outstanding commitments to borrowers whose loans were classified as TDRs at either date. The following table presents loans classified as TDRs: March 31, 2018 December 31, 2017 One-to-four family residential real estate - nonaccrual $ 17 $ 17 During the three months ended March 31, 2018 and 2017 , there were no loans modified and classified as TDRs. A TDR is considered to be in payment default once it is 90 days contractually past due under the modified terms. There were no payment defaults on TDRs during the three months ended March 31, 2018 and 2017 within twelve months following the modification. There were no loan modifications during the three months ended March 31, 2018 . There were certain loan modifications during the three months ended March 31, 2017 that did not meet the definition of a TDR. These loans had a total recorded investment of $133,000 at March 31, 2017 . 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. 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. Loans not meeting the criteria above that are analyzed individually as part of the above described process are considered “Pass” rated loans. As of March 31, 2018 , based on the most recent analysis performed, the risk categories of loans by class of loans are as follows: Pass Special Mention Substandard Nonaccrual Total One-to-four family residential real estate loans $ 70,004 $ — $ 323 $ 1,539 $ 71,866 One-to-four family residential real estate loans – non-owner occupied 20,105 — 39 46 20,190 Multi-family mortgage loans - Illinois 275,552 — 222 370 276,144 Multi-family mortgage loans - Other 302,000 — — — 302,000 Nonresidential real estate loans 163,707 — 149 — 163,856 Construction loans 1,093 — — — 1,093 Land loans 235 — — — 235 Commercial loans: Regional commercial banking 43,467 4,644 — — 48,111 Health care 67,669 — 2,258 — 69,927 Direct commercial lessor 44,526 — — — 44,526 Commercial leases: Investment rated commercial leases 186,052 — — — 186,052 Other commercial leases 99,170 — — — 99,170 Consumer 1,494 — — — 1,494 $ 1,275,074 $ 4,644 $ 2,991 $ 1,955 $ 1,284,664 As of December 31, 2017 , the risk categories of loans by class of loans are as follows: Pass Special Mention Substandard Nonaccrual Total One-to-four family residential real estate loans $ 74,437 $ — $ 255 $ 1,914 $ 76,606 One-to-four family residential real estate loans – non-owner occupied 21,059 — 40 109 21,208 Multi-family mortgage loans - Illinois 290,765 — 225 368 291,358 Multi-family mortgage loans - Other 297,025 — — — 297,025 Nonresidential real estate loans 169,817 — 154 — 169,971 Construction loans 1,099 — — — 1,099 Land loans 259 — — — 259 Commercial loans: Regional commercial banking 36,373 4,528 — — 40,901 Health care 69,480 — 2,248 — 71,728 Direct commercial lessor 39,923 — — — 39,923 Commercial leases: Investment rated commercial leases 207,460 — — — 207,460 Other commercial leases 102,616 — — — 102,616 Consumer 1,597 — — — 1,597 $ 1,311,910 $ 4,528 $ 2,922 $ 2,391 $ 1,321,751 |
Other Real Estate Owned (Notes)
Other Real Estate Owned (Notes) | 3 Months Ended |
Mar. 31, 2018 | |
Other Real Estate [Abstract] | |
Real Estate Owned [Text Block] | eal estate that is acquired through foreclosure or a deed in lieu of foreclosure is classified as other real estate owned ("OREO") until it is sold. When real estate is acquired through foreclosure or by deed in lieu of foreclosure, it is recorded at its fair value, less the estimated costs of disposal. If the fair value of the property is less than the loan balance, the difference is charged against the allowance for loan losses. March 31, 2018 December 31, 2017 Balance Valuation Allowance Net OREO Balance Balance Valuation Allowance Net OREO Balance One–to–four family residential $ 935 $ — $ 935 $ 836 $ (9 ) $ 827 Nonresidential real estate 1,140 (277 ) 863 1,772 (252 ) 1,520 Land 48 (44 ) 4 48 (44 ) 4 $ 2,123 $ (321 ) $ 1,802 $ 2,656 $ (305 ) $ 2,351 The following represents the roll forward of OREO and the composition of OREO properties: For the Three Months Ended March 31, 2018 2017 Beginning balance $ 2,351 $ 3,895 New foreclosed properties 562 1,936 Valuation adjustments (25 ) (20 ) Sales and payments (1,086 ) (510 ) Ending balance $ 1,802 $ 5,301 Activity in the valuation allowance is as follows: For the Three Months Ended March 31, 2018 2017 Beginning balance $ 305 $ 449 Additions charged to expense 25 20 Reductions from sales of OREO (9 ) (59 ) Ending balance $ 321 $ 410 At March 31, 2018 , the balance of OREO included no foreclosed residential real estate properties recorded as a result of obtaining physical possession of the property without title. At December 31, 2017 the balance of OREO included $352,000 foreclosed residential real estate properties recorded as a result of obtaining physical possession of the property without title. At March 31, 2018 and December 31, 2017 , the recorded investment of consumer mortgage loans secured by residential real estate properties for which formal foreclosure proceedings were in process was $1.3 million and $1.5 million , respectively. |
Employee Benefit Plans
Employee Benefit Plans | 3 Months Ended |
Mar. 31, 2018 | |
Compensation and Retirement Disclosure [Abstract] | |
Employee Benefit Plans | Stock Ownership Plan . On March 29, 2017, the ESOP was terminated and the ESOP repaid all amounts owing under the ESOP’s Term Loan Agreement with the Company (the “Share Acquisition Loan”). The ESOP repaid the Share Acquisition Loan by transferring 753,490 unallocated shares of the Company’s common stock to the Company in exchange for the full satisfaction of the Share Acquisition Loan, using the valuation method provided for in the ESOP. A total of 78,362 unallocated shares remained in the ESOP after the Share Acquisition Loan was repaid, and these shares were released and will be allocated to the accounts of eligible ESOP participants who were actively employed by the Bank as of March 29, 2017, based on their account balances, subject to the receipt of a favorable IRS determination letter. These transactions resulted in the recording of one-time, non-cash, non-tax deductible equity compensation expense of $1.1 million in the first quarter of 2017. The Share Acquisition Loan had no outstanding principal balance at March 31, 2018 and an outstanding principal balance of $10.8 million at December 31, 2017 . The Company made the Share Acquisition Loan to the ESOP in the original principal amount of $19.6 million in connection with the Company’s mutual to stock conversion in June of 2005. The proceeds of the Share Acquisition Loan were used by the ESOP to purchase 1,957,300 shares of the Company’s common stock issued in the subscription offering at a price of $10.00 per share. The Share Acquisition Loan was secured by a pledge of the acquired shares and the ESOP made annual loan payments with funds it received from the Bank’s discretionary contributions to the ESOP in subsequent years and dividends it received on unallocated shares. As loan payments were made, the Company recorded compensation expense based on the allocation of shares released. ESOP benefit expense was recorded based upon the fair value of the awarded shares, net of dividends and interest received on unallocated ESOP shares. ESOP benefit expense totaled $1.3 million for the year ended December 31, 2017 . Shares held by the ESOP were as follows: March 31, 2018 December 31, 2017 Allocated to participants 1,203,810 1,125,448 Distributed to participants (317,914 ) (313,223 ) Unearned — 831,852 Total ESOP shares 885,896 1,644,077 Fair value of unearned shares $ — $ 12,328 |
Equity Incentive Plans (Notes)
Equity Incentive Plans (Notes) | 3 Months Ended |
Mar. 31, 2018 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Equity Incentive Plans | EQUITY INCENTIVE PLAN 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 Plan provides that no awards may be granted under the Plan after the ten -year anniversary of the Effective Date. Consequently, no further awards will be granted under this Plan. As of December 31, 2017 , there were 1,752,156 stock options outstanding. The Company recognized $979,000 of equity-based compensation expense relating to the granting of stock options for the year ended December 31, 2017 . There was no equity-based compensation expense for the three months ended March 31, 2018 . A summary of the activity in the stock option plan for 2018 and 2016 follows: Stock Options Number of Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term (in years) Aggregate Intrinsic Value (1) Stock options outstanding at December 31, 2015 1,752,156 $ 12.30 1.48 $ 778 Stock options granted — — Stock options exercised — — Stock options outstanding at December 31, 2016 1,752,156 $ 12.30 0.48 $ 4,422 Stock options granted — — Stock options exercised (1,752,156 ) 12.30 Stock options outstanding at September 30, 2017 — $ — 0 $ — (1) Stock option aggregate intrinsic value represents the number of shares subject to options multiplied by the difference (if positive) in the closing market price of the common stock underlying the options on the date shown and the weighted average exercise price. During the nine months ended March 31, 2018 , 1,752,156 stock options were exercised. All stock options were exercised on a net settlement basis, using a portion of the shares obtained upon exercise to pay the exercise price of the stock option. The net settlements resulted in the issuance of 280,554 shares of the Company's common stock. Certain employees also chose to use a portion of the net shares received upon the exercise to pay required tax withholdings. This reduced the net shares issued by 82,528 shares to 198,026 shares. |
Fair Value (Notes)
Fair Value (Notes) | 3 Months Ended |
Mar. 31, 2018 | |
Fair Value Disclosures [Abstract] | |
Fair Value | 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). 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. 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 Prices in Active Markets for Identical Assets (Level 1) Significant Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Fair Value March 31, 2018 Securities: Certificates of deposit $ — $ 86,340 $ — $ 86,340 Equity mutual fund 491 — — 491 Mortgage-backed securities – residential — 11,544 — 11,544 Collateralized mortgage obligations – residential — 4,277 — 4,277 SBA-guaranteed loan participation certificates — 9 — 9 $ 491 $ 102,170 $ — $ 102,661 December 31, 2017 Securities: Certificates of deposit $ — $ 75,916 $ — $ 75,916 Equity mutual fund 499 — — 499 Mortgage-backed securities - residential — 12,472 — 12,472 Collateralized mortgage obligations – residential — 4,486 — 4,486 SBA-guaranteed loan participation certificates — 10 — 10 $ 499 $ 92,884 $ — $ 93,383 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 Active Markets for Identical Assets (Level 1) Significant Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Fair Value March 31, 2018 Other real estate owned - nonresidential real estate $ — $ — $ 409 $ 409 December 31, 2017 Other real estate owned: One-to-four family residential real estate $ — $ — $ 102 $ 102 Nonresidential real estate — — 814 814 $ — $ — $ 916 $ 916 At March 31, 2018 and December 31, 2017 there were no impaired loans that were measured for impairment using the fair value of the collateral for collateral–dependent loans and which had specific valuation allowances. OREO, which is carried at the lower of cost or fair value less costs to sell, had a carrying value of $494,000 less a valuation allowance of $85,000 , or $409,000 , at March 31, 2018 , compared to a carrying value of $1.2 million less a valuation allowance of $261,000 , or $916,000 , at December 31, 2017 . There were $25,000 and $20,000 of valuation adjustments of OREO recorded for the three months ended March 31, 2018 and 2017 , respectively. 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: Fair Value Valuation Significant Unobservable Range March 31, 2018 Other real estate owned - nonresidential real estate loans $ 409 Sales comparison Comparison between sales and income approaches 12.70% to 26.77% December 31, 2017 Other real estate owned One-to-four family residential real estate $ 102 Sales comparison Discount applied to valuation 5.6% Nonresidential real estate 814 Sales comparison Comparison between sales and income approaches -3.66% to 15.22% (11.0%) $ 916 The carrying amount and estimated fair value of financial instruments are as follows: Fair Value Measurements at March 31, 2018 Using: Carrying Amount Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents $ 92,576 $ 10,613 $ 81,963 $ — $ 92,576 Securities 102,661 491 102,170 — 102,661 Loans receivable, net of allowance for loan losses 1,277,553 — — 1,276,635 1,276,635 FHLB and FRB stock 8,290 — — — N/A Accrued interest receivable 4,900 — 4,900 — 4,900 Financial liabilities Noninterest-bearing demand deposits $ 232,593 $ — $ 232,593 $ — $ 232,593 NOW and money market accounts 573,886 — 573,886 — 573,886 Savings deposits 160,093 — 160,093 — 160,093 Certificates of deposit 311,435 — 308,904 — 308,904 Borrowings 60,983 — 60,832 — 60,832 Accrued interest payable 180 — 180 — 180 Fair Value Measurements at December 31, 2017 Using: Carrying Amount Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents $ 127,592 $ 13,572 $ 114,020 $ — $ 127,592 Securities 93,383 499 92,884 — 93,383 Loans receivable, net of allowance for loan losses 1,314,651 — 1,323,139 — 1,323,139 FHLB and FRB stock 8,290 — — — N/A Accrued interest receivable 4,619 — 4,619 — 4,619 Financial liabilities Noninterest-bearing demand deposits $ 234,354 $ — $ 234,354 $ — $ 234,354 NOW and money market accounts 589,238 — 589,238 — 589,238 Savings deposits 160,501 — 160,501 — 160,501 Certificates of deposit 355,958 — 353,969 — 353,969 Borrowings 60,768 — 60,627 — 60,627 Accrued interest payable 147 — 147 — 147 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 : At March 31, 2018, the exit price observations are obtained from an independent third-party using its proprietary valuation model and methodology and may not reflect actual or prospective market valuations. The valuation is based on the probability of default, loss given default, recovery delay, prepayment, and discount rate assumptions. The new methodology is a result of the adoption of ASU 2016-01. At December 31, 2017, 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 methods utilized to estimate fair value of loans do not necessarily represent an exit price. FHLB and FRB Stock : It is not practicable to determine the fair value of FHLB and FRB stock due to the restrictions placed on their 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 FHLB 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. |
Revenue From Contracts With Cus
Revenue From Contracts With Customers | 3 Months Ended |
Mar. 31, 2018 | |
Revenue Recognition [Abstract] | |
Revenue From Contracts With Customers | REVENUE FROM CONTRACTS WITH CUSTOMERS All of the Company's revenue from contracts with customers in the scope of ASC 606 is recognized within noninterest income. The following table presents the Company's sources of noninterest income for the three months ended March 31, 2018 and 2017 . Items outside of the scope of the ASC 606 are noted as such. Three Months Ended 2018 2017 Deposit service charges and fees $ 978 $ 950 Loan fee income (1) 70 60 Commercial mortgage brokerage fees (1) 41 — Residential mortgage banking fees (1) 30 44 Trust and insurance commissions and annuities income 213 249 Earnings on bank owned life insurance (1) 66 63 Other (1) 141 178 Total noninterest income $ 1,539 $ 1,544 (1) Not within the scope of ASC 606 A description of the Company's revenue streams accounted for under ASC 606 follows: Deposit service charges and fees: The Company earns fees from its deposit customers for transaction-based, account maintenance, and overdraft services. Transaction-based fees, which include services such as ATM use fees, stop payment charges, statement rendering, and ACH fees, are recognized at the time the transaction is executed as that is the point in time the Company fulfills the customer's request. Account maintenance fees, which relate primarily to monthly maintenance, are earned over the course of a month, representing the period over which the Company satisfies the performance obligation. Overdraft fees are recognized at the point in time that the overdraft occurs. Service charges on deposits are withdrawn from the customer's account balance. Interchange Income: The Company earns interchange fees from debit cardholder transactions conducted through the Visa payment network. Interchange fees from cardholder transactions represent a percentage of the underlying transaction value and are recognized daily, concurrently with the transaction processing services provided to the cardholder. Interchange income for the three months ended March 31, 2018 and 2017 were $361,000 and $350,000 , respectively. These are included in deposit service charges and fees. Trust and insurance commissions and annuities income: The Company earns trust, insurance commissions and annuities income from its contracts with trust customers to manage assets for investment, and/or to transact on their accounts. These fees are primarily earned over time as the Company provides the contracted monthly or quarterly services and are generally assessed based on a tiered scale of the market value of assets under management (AUM) at month-end. Fees that are transaction based, including trade execution services, are recognized at the point in time that the transaction is executed, i.e., the trade date. Other related services provided include fees the Company earns, which are based on a fixed fee schedule, are recognized when the services are rendered. Gains/Losses on Sales of OREO: The Company records a gain or loss from the sale of OREO when control of the property transfers to the buyer, which generally occurs at the time of an executed deed. When the Company finances the sale of OREO to the buyer, the Company assesses whether the buyer is committed to perform their obligations under the contract and whether collectability of the transaction price is probable. Once these criteria are met, the OREO asset is derecognized and the gain or loss on sale is recorded upon the transfer of control of the property to the buyer. In determining the gain or loss on the sale, the Company adjusts the transaction price and related gain (loss) on sale if a significant financing component is present. OREO sales for the three months ended March 31, 2018 and March 31, 2017 were not financed by the Bank. |
Subsequent Events
Subsequent Events | 3 Months Ended |
Mar. 31, 2018 | |
Subsequent Events [Abstract] | |
Subsequent Events | SUBSEQUENT EVENTS In April 2018, the Bank recorded income from a death benefit on BOLI of $1.4 million related to the death of a former Bank executive. On April 23, 2018, the Bank sold its office building located at 15W060 North Frontage Road, Burr Ridge, Illinois, for a purchase price of $6 million . A net gain in the approximate amount $100,000 will be recorded in the second quarter of 2018 in connection with the sale. Concurrently with the sale, the Bank entered into a six-month lease of the office building with the purchaser, and intends to lease space in a different building following the expiration of the lease with the purchaser. The Company shares space with the Bank in the office building pursuant to an expense allocation agreement. |
Summary of Significant Accoun19
Summary of Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2018 | |
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, NA (the “Bank”). The interim unaudited consolidated financial statements include the accounts and transactions of BankFinancial Corporation, the Bank, and the Bank’s wholly-owned subsidiaries, Financial Assurance Services, Inc. and BFIN Asset Recovery Company, LLC (collectively, “the Company”), and reflect all normal and recurring adjustments that are, in the opinion of management, considered necessary for a fair presentation of the financial condition and results of operations for the periods presented. Such adjustments are the only adjustments reflected in the accompanying financial statements. All significant intercompany accounts and transactions have been eliminated. The results of operations for the three -month period ended March 31, 2018 are not necessarily indicative of the results of operations that may be expected for the year ending December 31, 2018 or for any other period. Certain information and note disclosures normally included in financial statements prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”) have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission. Use of Estimates : To prepare financial statements in conformity with 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 future results could differ. Reclassifications : Certain reclassifications have been made in the prior period’s financial statements to conform them to the current period’s presentation. These unaudited consolidated financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2017 , as filed with the Securities and Exchange Commission. Recent Accounti |
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, NA (the “Bank”). |
Principles of Consolidation | The interim unaudited consolidated financial statements include the accounts and transactions of BankFinancial Corporation, the Bank, and the Bank’s wholly-owned subsidiaries, Financial Assurance Services, Inc. and BFIN Asset Recovery Company, LLC (collectively, “the Company”), and reflect all normal and recurring adjustments that are, in the opinion of management, considered necessary for a fair presentation of the financial condition and results of operations for the periods presented. Such adjustments are the only adjustments reflected in the accompanying financial statements. All significant intercompany accounts and transactions have been eliminated. The results of operations for the three -month period ended March 31, 2018 are not necessarily indicative of the results of operations that may be expected for the year ending December 31, 2018 or for any other period. Certain information and note disclosures normally included in financial statements prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”) have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission. Use of Estimate |
Use of Estimates | Use of Estimates : To prepare financial statements in conformity with 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 future results could differ. |
Uncollected Interest Policy | The Company’s reserve for uncollected loan interest was $76,000 and $103,000 at March 31, 2018 and December 31, 2017 , respectively. When a loan is on nonaccrual 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. |
Reclassifications | Reclassifications : Certain reclassifications have been made in the prior period’s financial statements to conform them to the current period’s presentation. These unaudited consolidated financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2017 , as filed with the Securities and Exchange Commission. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements 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 became effective for annual periods and interim periods within those annual periods beginning after December 15, 2017. We have evaluated the impact of adopting the update and have concluded that it does not have a significant impact to our consolidated financial statements. The Company’s revenue streams that are in-scope from the update include: financed OREO sales; deposit fees, including ATM fees, overdraft fees, maintenance fees and dormancy fees; debit card fees, and trust fees. For the in-scope revenue streams, our current revenue recognition is not different than our prior revenue recognition under the update. The Company has infrequently financed an OREO sale. Our customer contracts generally do not have performance obligations and fees are assessed and collected as the transaction occurs. The Company’s fee income is not material for any individual income streams. The adoption of ASC 606 did not result in a change to the accounting for any of the in-scope revenue stream; as such, no cumulative effect adjustment was recorded. Refer to Note 8 - Revenue for Contracts with Customers for further discussion on the Company's accounting policies for revenue sources within the scope of ASC 606. In January 2016, the FASB issued an update (ASU No. 2016-01, Financial Instruments - Recognition and Measurement of Financial Assets and Liabilities). The new guidance is intended to improve the recognition and measurement of financial instruments by requiring: equity investments (other than equity method or consolidation) to be measured at fair value with changes in fair value recognized in net income; public business entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes; separate presentation of financial assets and financial liabilities by measurement category and form of financial assets ( i.e., securities or loans and receivables) on the balance sheet or the accompanying notes to the financial statements; eliminating the requirement to disclose the fair value of financial instruments measured at amortized cost for organizations that are not public business entities; eliminating the requirement for non-public business entities to disclose the method(s) and significant assumptions used to estimate the fair value that is to be required to be disclosed for financial instruments measured at amortized cost on the balance sheet; and requiring a reporting organization to present separately in other comprehensive income the portion of the total change in fair value of a liability resulting from the change in the instrument-specific credit risk (also referred to as “own credit”) when the organization has elected to measure the liability at fair value in accordance with the fair value option for financial instruments. The new guidance became effective for public business entities for fiscal years beginning after December 15, 2017. The new pronouncement does not have a significant impact on our Statement of Operations, as we only have one equity security that was valued at $491,000 and $499,000 at March 31, 2018 and December 31, 2017 , respectively. The equity security is reported separately on the Statement of Condition as a result the adoption of this pronouncement. In February 2016, the FASB issued ASU No. 2016-02, “Leases (Topic 842)” (“ASU 2016-02”). The standard requires a lessee to recognize assets and liabilities on the balance sheet for leases with lease terms greater than 12 months. ASU 2016-02 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2018, and early adoption is permitted. We are currently evaluating the impact that the standard will have on our consolidated financial statements. Our preliminary finding is that the new pronouncement will not have a significant impact on our consolidated financial statements as the projected minimum lease payments under existing leases subject to the new pronouncement are less than one percent of our current total assets. In June 2016, the FASB issued ASU No. 2016-13, “Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments” (“ASU 2016-13”). These amendments require the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. Financial institutions and other organizations will now use forward-looking information to better inform their credit loss estimates. Many of the loss estimation techniques applied today will still be permitted, although the inputs to those techniques will change to reflect the full amount of expected credit losses. In addition, the ASU amends the accounting for credit losses on available-for-sale debt securities and purchased financial assets with credit deterioration. ASU 2016-13 is effective for SEC filers for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019 ( i.e. , January 1, 2020, for calendar year entities). Early application will be permitted for all organizations for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. We are currently evaluating the impact that the standard will have on our consolidated financial statements. Our initial review indicates that we have maintained sufficient historical loan data to support the requirements of this pronouncement. In addition, we have begun tracking the average life of the various segments of our loan portfolio. We are currently evaluating various loss methodologies to determine their correlation to our various loan categories' historical performance. In March of 2017, the FASB issued ASU No. 2017-08, “Receivables-Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities” (“ASU 2017-08”). This guidance shortens the amortization period for premiums on certain callable debt securities to the earliest call date (with an explicit, noncontingent call feature that is callable at a fixed price and on a preset dates), rather than contractual maturity date as currently required under GAAP. The ASU does not impact instruments without preset call dates such as mortgage-backed securities. For instruments with contingent call features, once the contingency is resolved and the security is callable at a fixed price and preset date, the security is within the scope of the ASU. ASU 2017-08 is effective for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years, and early adoption is permitted. Effective January 2017, we early adopted the pronouncement. Adoption of the new pronouncement was immaterial to the consolidated financial statements. |
Summary of Significant Accoun20
Summary of Significant Accounting Policies New Accounting Pronouncements (Policies) | 3 Months Ended |
Mar. 31, 2018 | |
Text Block [Abstract] | |
Recent Accounting Pronouncements | Recent Accounting Pronouncements 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 became effective for annual periods and interim periods within those annual periods beginning after December 15, 2017. We have evaluated the impact of adopting the update and have concluded that it does not have a significant impact to our consolidated financial statements. The Company’s revenue streams that are in-scope from the update include: financed OREO sales; deposit fees, including ATM fees, overdraft fees, maintenance fees and dormancy fees; debit card fees, and trust fees. For the in-scope revenue streams, our current revenue recognition is not different than our prior revenue recognition under the update. The Company has infrequently financed an OREO sale. Our customer contracts generally do not have performance obligations and fees are assessed and collected as the transaction occurs. The Company’s fee income is not material for any individual income streams. The adoption of ASC 606 did not result in a change to the accounting for any of the in-scope revenue stream; as such, no cumulative effect adjustment was recorded. Refer to Note 8 - Revenue for Contracts with Customers for further discussion on the Company's accounting policies for revenue sources within the scope of ASC 606. In January 2016, the FASB issued an update (ASU No. 2016-01, Financial Instruments - Recognition and Measurement of Financial Assets and Liabilities). The new guidance is intended to improve the recognition and measurement of financial instruments by requiring: equity investments (other than equity method or consolidation) to be measured at fair value with changes in fair value recognized in net income; public business entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes; separate presentation of financial assets and financial liabilities by measurement category and form of financial assets ( i.e., securities or loans and receivables) on the balance sheet or the accompanying notes to the financial statements; eliminating the requirement to disclose the fair value of financial instruments measured at amortized cost for organizations that are not public business entities; eliminating the requirement for non-public business entities to disclose the method(s) and significant assumptions used to estimate the fair value that is to be required to be disclosed for financial instruments measured at amortized cost on the balance sheet; and requiring a reporting organization to present separately in other comprehensive income the portion of the total change in fair value of a liability resulting from the change in the instrument-specific credit risk (also referred to as “own credit”) when the organization has elected to measure the liability at fair value in accordance with the fair value option for financial instruments. The new guidance became effective for public business entities for fiscal years beginning after December 15, 2017. The new pronouncement does not have a significant impact on our Statement of Operations, as we only have one equity security that was valued at $491,000 and $499,000 at March 31, 2018 and December 31, 2017 , respectively. The equity security is reported separately on the Statement of Condition as a result the adoption of this pronouncement. In February 2016, the FASB issued ASU No. 2016-02, “Leases (Topic 842)” (“ASU 2016-02”). The standard requires a lessee to recognize assets and liabilities on the balance sheet for leases with lease terms greater than 12 months. ASU 2016-02 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2018, and early adoption is permitted. We are currently evaluating the impact that the standard will have on our consolidated financial statements. Our preliminary finding is that the new pronouncement will not have a significant impact on our consolidated financial statements as the projected minimum lease payments under existing leases subject to the new pronouncement are less than one percent of our current total assets. In June 2016, the FASB issued ASU No. 2016-13, “Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments” (“ASU 2016-13”). These amendments require the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. Financial institutions and other organizations will now use forward-looking information to better inform their credit loss estimates. Many of the loss estimation techniques applied today will still be permitted, although the inputs to those techniques will change to reflect the full amount of expected credit losses. In addition, the ASU amends the accounting for credit losses on available-for-sale debt securities and purchased financial assets with credit deterioration. ASU 2016-13 is effective for SEC filers for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019 ( i.e. , January 1, 2020, for calendar year entities). Early application will be permitted for all organizations for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. We are currently evaluating the impact that the standard will have on our consolidated financial statements. Our initial review indicates that we have maintained sufficient historical loan data to support the requirements of this pronouncement. In addition, we have begun tracking the average life of the various segments of our loan portfolio. We are currently evaluating various loss methodologies to determine their correlation to our various loan categories' historical performance. In March of 2017, the FASB issued ASU No. 2017-08, “Receivables-Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities” (“ASU 2017-08”). This guidance shortens the amortization period for premiums on certain callable debt securities to the earliest call date (with an explicit, noncontingent call feature that is callable at a fixed price and on a preset dates), rather than contractual maturity date as currently required under GAAP. The ASU does not impact instruments without preset call dates such as mortgage-backed securities. For instruments with contingent call features, once the contingency is resolved and the security is callable at a fixed price and preset date, the security is within the scope of the ASU. ASU 2017-08 is effective for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years, and early adoption is permitted. Effective January 2017, we early adopted the pronouncement. Adoption of the new pronouncement was immaterial to the consolidated financial statements. |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Earnings Per Share [Abstract] | |
Earnings Per Share [Text Block] | ngs per share reflect earnings 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 BankFinancial, NA Employee Stock Ownership Plan (the "ESOP") shares in 2017 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. Three Months Ended 2018 2017 Net income available to common stockholders $ 3,559 $ 1,881 Average common shares outstanding 17,931,579 19,243,941 Less: Unearned ESOP shares — (600,947 ) Unvested restricted stock shares (940 ) (940 ) Weighted average common shares outstanding 17,930,639 18,642,054 Add - Net effect of dilutive unvested restricted stock 461 5,462 Diluted weighted average common shares outstanding 17,931,100 18,647,516 Basic earnings per common share $ 0.20 $ 0.10 Diluted earnings per common share $ 0.20 $ 0.10 |
Securities (Tables)
Securities (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Investments, Debt and Equity Securities [Abstract] | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | The fair value of securities and the related gross unrealized gains and losses recognized in accumulated other comprehensive income are shown below. Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value March 31, 2018 Certificates of deposit $ 86,340 $ — $ — $ 86,340 Mortgage-backed securities - residential 11,146 441 (43 ) 11,544 Collateralized mortgage obligations - residential 4,272 16 (11 ) 4,277 SBA-guaranteed loan participation certificates 9 — — 9 $ 101,767 $ 457 $ (54 ) $ 102,170 December 31, 2017 Certificates of deposit $ 75,916 $ — $ — $ 75,916 Equity mutual fund 500 — (1 ) 499 Mortgage-backed securities - residential 11,969 520 (17 ) 12,472 Collateralized mortgage obligations - residential 4,481 16 (11 ) 4,486 SBA-guaranteed loan participation certificates 10 — — 10 $ 92,876 $ 536 $ (29 ) $ 93,383 The mortgage-backed securities and collateralized mortgage obligations reflected in the preceding table were issued by U.S. government-sponsored entities or 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 March 31, 2018 and December 31, 2017 . The amortized cost and fair values of securities 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. March 31, 2018 Amortized Cost Fair Value Due in one year or less $ 86,340 $ 86,340 Mortgage-backed securities - residential 11,146 11,544 Collateralized mortgage obligations - residential 4,272 4,277 SBA-guaranteed loan participation certificates 9 9 $ 101,767 $ 102,170 There were no sales of securities for the periods ended March 31, 2018 and 2017 . Securities with unrealized losses not recognized in income are as follows: Less than 12 Months 12 Months or More Total Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss March 31, 2018 Mortgage-backed securities - residential $ — $ — $ 1,111 $ (43 ) $ 1,111 $ (43 ) Collateralized mortgage obligations - residential — — 1,983 (11 ) 1,983 (11 ) $ — $ — $ 3,094 $ (54 ) $ 3,094 $ (54 ) December 31, 2017 Equity mutual fund $ 499 $ (1 ) $ — $ — $ 499 $ (1 ) Mortgage-backed securities - residential — — 1,149 (17 ) 1,149 (17 ) Collateralized mortgage obligations - residential — — 2,083 (11 ) 2,083 (11 ) $ 499 $ (1 ) $ 3,232 $ (28 ) $ 3,731 $ (29 ) 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 mortgage-backed securities and collateralized mortgage obligations that the Company holds in its investment portfolio were in an unrealized loss position at March 31, 2018 , but the unrealized losses were not considered significant under the Company’s impairment testing methodology. In addition, the Company does not intend to sell these securities, and it is likely that the Company will not be required to sell these securities before their anticipated recovery occurs. |
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 are shown below. Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value March 31, 2018 Certificates of deposit $ 86,340 $ — $ — $ 86,340 Mortgage-backed securities - residential 11,146 441 (43 ) 11,544 Collateralized mortgage obligations - residential 4,272 16 (11 ) 4,277 SBA-guaranteed loan participation certificates 9 — — 9 $ 101,767 $ 457 $ (54 ) $ 102,170 December 31, 2017 Certificates of deposit $ 75,916 $ — $ — $ 75,916 Equity mutual fund 500 — (1 ) 499 Mortgage-backed securities - residential 11,969 520 (17 ) 12,472 Collateralized mortgage obligations - residential 4,481 16 (11 ) 4,486 SBA-guaranteed loan participation certificates 10 — — 10 $ 92,876 $ 536 $ (29 ) $ 93,383 |
Amortized cost and fair values of securities | The amortized cost and fair values of securities 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. March 31, 2018 Amortized Cost Fair Value Due in one year or less $ 86,340 $ 86,340 Mortgage-backed securities - residential 11,146 11,544 Collateralized mortgage obligations - residential 4,272 4,277 SBA-guaranteed loan participation certificates 9 9 $ 101,767 $ 102,170 |
Securities with unrealized losses | Securities with unrealized losses not recognized in income are as follows: Less than 12 Months 12 Months or More Total Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss March 31, 2018 Mortgage-backed securities - residential $ — $ — $ 1,111 $ (43 ) $ 1,111 $ (43 ) Collateralized mortgage obligations - residential — — 1,983 (11 ) 1,983 (11 ) $ — $ — $ 3,094 $ (54 ) $ 3,094 $ (54 ) December 31, 2017 Equity mutual fund $ 499 $ (1 ) $ — $ — $ 499 $ (1 ) Mortgage-backed securities - residential — — 1,149 (17 ) 1,149 (17 ) Collateralized mortgage obligations - residential — — 2,083 (11 ) 2,083 (11 ) $ 499 $ (1 ) $ 3,232 $ (28 ) $ 3,731 $ (29 ) |
Loans Receivable (Tables)
Loans Receivable (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Receivables [Abstract] | |
Loans By Class Modified As Troubled Debt Restructurings With Payment Default [Table Text Block] | TDRs during the three months ended March 31, 2018 and 2017 within twelve months following the modification. |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | Loans receivable are as follows: March 31, 2018 December 31, 2017 One-to-four family residential real estate $ 92,056 $ 97,814 Multi-family mortgage 578,144 588,383 Nonresidential real estate 163,856 169,971 Construction and land 1,328 1,358 Commercial loans 162,564 152,552 Commercial leases 285,222 310,076 Consumer 1,494 1,597 1,284,664 1,321,751 Net deferred loan origination costs 1,230 1,266 Allowance for loan losses (8,341 ) (8,366 ) Loans, net $ 1,277,553 $ 1,314,651 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 evaluated for impairment Collectively evaluated for impairment Total Individually evaluated for impairment Collectively evaluated for impairment Total March 31, 2018 One-to-four family residential real estate $ — $ 765 $ 765 $ 3,576 $ 88,480 $ 92,056 Multi-family mortgage — 3,866 3,866 947 577,197 578,144 Nonresidential real estate — 1,577 1,577 — 163,856 163,856 Construction and land — 32 32 — 1,328 1,328 Commercial loans — 1,441 1,441 — 162,564 162,564 Commercial leases — 650 650 — 285,222 285,222 Consumer — 10 10 — 1,494 1,494 $ — $ 8,341 $ 8,341 $ 4,523 $ 1,280,141 1,284,664 Net deferred loan origination costs 1,230 Allowance for loan losses (8,341 ) Loans, net $ 1,277,553 Allowance for loan losses Loan Balances Individually evaluated for impairment Collectively evaluated for impairment Total Individually evaluated for impairment Collectively evaluated for impairment Total December 31, 2017 One-to-four family residential real estate $ — $ 850 $ 850 $ 4,265 $ 93,549 $ 97,814 Multi-family mortgage — 3,849 3,849 949 587,434 588,383 Nonresidential real estate — 1,605 1,605 — 169,971 169,971 Construction and land — 32 32 — 1,358 1,358 Commercial loans — 1,357 1,357 — 152,552 152,552 Commercial leases — 655 655 — 310,076 310,076 Consumer — 18 18 — 1,597 1,597 $ — $ 8,366 $ 8,366 $ 5,214 $ 1,316,537 1,321,751 Net deferred loan origination costs 1,266 Allowance for loan losses (8,366 ) Loans, net $ 1,314,651 Activity in the allowance for loan losses is as follows: Three Months Ended 2018 2017 Beginning balance $ 8,366 $ 8,127 Loans charged off: One-to-four family residential real estate (97 ) (171 ) Multi-family mortgage — (3 ) Nonresidential real estate — (165 ) (97 ) (339 ) Recoveries: One-to-four family residential real estate 99 6 Multi-family mortgage 8 11 Commercial loans 223 5 330 22 Net recoveries (charge-offs) 233 (317 ) Provision for (recovery of) loan losses (258 ) 161 Ending balance $ 8,341 $ 7,971 The following tables present the recorded investment in nonaccrual loans and loans past due over 90 days still on accrual by class of loans: Loan Balance Recorded Investment Loans Past Due Over 90 Days, Still Accruing March 31, 2018 One-to-four family residential real estate $ 1,675 $ 1,543 $ — One-to-four family residential real estate – non-owner occupied 86 46 — Multi-family mortgage - Illinois 375 369 — $ 2,136 $ 1,958 $ — December 31, 2017 One-to-four family residential real estate $ 3,413 $ 1,918 $ — One-to-four family residential real estate – non-owner occupied 308 109 — Multi-family mortgage - Illinois 376 363 — $ 4,097 $ 2,390 $ — Nonaccrual loans and impaired loans are defined differently. Some loans may be included in both categories, and some loans may only be included in one category. Nonaccrual loans include both smaller balance homogeneous loans that are collectively evaluated for impairment and individually classified impaired loans. The Company’s reserve for uncollected loan interest was $76,000 and $103,000 at March 31, 2018 and December 31, 2017 , respectively. When a loan is on nonaccrual 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. The following tables present the aging of the recorded investment of loans at March 31, 2018 by class of loans: 30-59 Days Past Due 60-89 Days Past Due 90 Days or Greater Past Due Total Past Due Loans Not Past Due Total One-to-four family residential real estate loans $ 1,875 $ 58 $ 1,398 $ 3,331 $ 68,216 $ 71,547 One-to-four family residential real estate loans – non-owner occupied 368 10 46 424 19,676 20,100 Multi-family mortgage - Illinois 268 — 271 539 273,950 274,489 Multi-family mortgage - Other — — — — 299,725 299,725 Nonresidential real estate 940 — — 940 161,265 162,205 Construction — — — — 1,096 1,096 Land — — — — 234 234 Commercial loans: Regional commercial banking — — — — 48,160 48,160 Health care — — — — 69,980 69,980 Direct commercial lessor — — — — 44,939 44,939 Commercial leases: Investment rated commercial leases 1,727 152 — 1,879 185,386 187,265 Other commercial leases 572 255 — 827 98,900 99,727 Consumer — 22 — 22 1,481 1,503 $ 5,750 $ 497 $ 1,715 $ 7,962 $ 1,273,008 $ 1,280,970 The following tables present the aging of the recorded investment of loans at December 31, 2017 by class of loans: 30-59 Days Past Due 60-89 Days Past Due 90 Days or Total Past Due Loans Not Past Due Total One-to-four family residential real estate loans $ 86 $ 99 $ 1,801 $ 1,986 $ 74,216 $ 76,202 One-to-four family residential real estate loans – non-owner occupied 10 3 86 99 20,944 21,043 Multi-family mortgage - Illinois 172 — 364 536 287,171 287,707 Multi-family mortgage - Other — — — — 296,440 296,440 Nonresidential real estate 608 — — 608 166,071 166,679 Construction — — — — 1,103 1,103 Land — — — — 259 259 Commercial loans: Regional commercial banking — — — — 40,935 40,935 Health care — — — — 71,738 71,738 Direct commercial lessor — — — — 40,237 40,237 Commercial leases: Investment rated commercial leases 934 — — 934 207,747 208,681 Other commercial leases 288 — — 288 102,873 103,161 Consumer — — — — 1,605 1,605 $ 2,098 $ 102 $ 2,251 $ 4,451 $ 1,311,339 $ 1,315,790 The Company evaluates loan extensions or modifications in accordance with FASB ASC 310–40 with respect to the classification of the loan as a Troubled Debt Restructuring ("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 $17,000 of TDRs at March 31, 2018 and December 31, 2017 . No specific valuation reserves were allocated to those loans at March 31, 2018 and December 31, 2017 . The Company had no outstanding commitments to borrowers whose loans were classified as TDRs at either date. The following table presents loans classified as TDRs: March 31, 2018 December 31, 2017 One-to-four family residential real estate - nonaccrual $ 17 $ 17 During the three months ended March 31, 2018 and 2017 , there were no loans modified and classified as TDRs. A TDR is considered to be in payment default once it is 90 days contractually past due under the modified terms. There were no payment defaults on TDRs during the three months ended March 31, 2018 and 2017 within twelve months following the modification. There were no loan modifications during the three months ended March 31, 2018 . There were certain loan modifications during the three months ended March 31, 2017 that did not meet the definition of a TDR. These loans had a total recorded investment of $133,000 at March 31, 2017 . 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. 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. Loans not meeting the criteria above that are analyzed individually as part of the above described process are considered “Pass” rated loans. As of March 31, 2018 , based on the most recent analysis performed, the risk categories of loans by class of loans are as follows: Pass Special Mention Substandard Nonaccrual Total One-to-four family residential real estate loans $ 70,004 $ — $ 323 $ 1,539 $ 71,866 One-to-four family residential real estate loans – non-owner occupied 20,105 — 39 46 20,190 Multi-family mortgage loans - Illinois 275,552 — 222 370 276,144 Multi-family mortgage loans - Other 302,000 — — — 302,000 Nonresidential real estate loans 163,707 — 149 — 163,856 Construction loans 1,093 — — — 1,093 Land loans 235 — — — 235 Commercial loans: Regional commercial banking 43,467 4,644 — — 48,111 Health care 67,669 — 2,258 — 69,927 Direct commercial lessor 44,526 — — — 44,526 Commercial leases: Investment rated commercial leases 186,052 — — — 186,052 Other commercial leases 99,170 — — — 99,170 Consumer 1,494 — — — 1,494 $ 1,275,074 $ 4,644 $ 2,991 $ 1,955 $ 1,284,664 As of December 31, 2017 , the risk categories of loans by class of loans are as follows: Pass Special Mention Substandard Nonaccrual Total One-to-four family residential real estate loans $ 74,437 $ — $ 255 $ 1,914 $ 76,606 One-to-four family residential real estate loans – non-owner occupied 21,059 — 40 109 21,208 Multi-family mortgage loans - Illinois 290,765 — 225 368 291,358 Multi-family mortgage loans - Other 297,025 — — — 297,025 Nonresidential real estate loans 169,817 — 154 — 169,971 Construction loans 1,099 — — — 1,099 Land loans 259 — — — 259 Commercial loans: Regional commercial banking 36,373 4,528 — — 40,901 Health care 69,480 — 2,248 — 71,728 Direct commercial lessor 39,923 — — — 39,923 Commercial leases: Investment rated commercial leases 207,460 — — — 207,460 Other commercial leases 102,616 — — — 102,616 Consumer 1,597 — — — 1,597 $ 1,311,910 $ 4,528 $ 2,922 $ 2,391 $ 1,321,751 |
Loans receivable | Loans receivable are as follows: March 31, 2018 December 31, 2017 One-to-four family residential real estate $ 92,056 $ 97,814 Multi-family mortgage 578,144 588,383 Nonresidential real estate 163,856 169,971 Construction and land 1,328 1,358 Commercial loans 162,564 152,552 Commercial leases 285,222 310,076 Consumer 1,494 1,597 1,284,664 1,321,751 Net deferred loan origination costs 1,230 1,266 Allowance for loan losses (8,341 ) (8,366 ) Loans, net $ 1,277,553 $ 1,314,651 |
Loans Receivable Based On Impairment Method [Table Text Block] | 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 evaluated for impairment Collectively evaluated for impairment Total Individually evaluated for impairment Collectively evaluated for impairment Total March 31, 2018 One-to-four family residential real estate $ — $ 765 $ 765 $ 3,576 $ 88,480 $ 92,056 Multi-family mortgage — 3,866 3,866 947 577,197 578,144 Nonresidential real estate — 1,577 1,577 — 163,856 163,856 Construction and land — 32 32 — 1,328 1,328 Commercial loans — 1,441 1,441 — 162,564 162,564 Commercial leases — 650 650 — 285,222 285,222 Consumer — 10 10 — 1,494 1,494 $ — $ 8,341 $ 8,341 $ 4,523 $ 1,280,141 1,284,664 Net deferred loan origination costs 1,230 Allowance for loan losses (8,341 ) Loans, net $ 1,277,553 |
Allowance for loan losses | ctivity in the allowance for loan losses is as follows: Three Months Ended 2018 2017 Beginning balance $ 8,366 $ 8,127 Loans charged off: One-to-four family residential real estate (97 ) (171 ) Multi-family mortgage — (3 ) Nonresidential real estate — (165 ) (97 ) (339 ) Recoveries: One-to-four family residential real estate 99 6 Multi-family mortgage 8 11 Commercial loans 223 5 330 22 Net recoveries (charge-offs) 233 (317 ) Provision for (recovery of) loan losses (258 ) 161 Ending balance $ 8,341 $ 7,971 |
Schedule of Financing Receivables, Non Accrual Status | The following tables present the recorded investment in nonaccrual loans and loans past due over 90 days still on accrual by class of loans: Loan Balance Recorded Investment Loans Past Due Over 90 Days, Still Accruing March 31, 2018 One-to-four family residential real estate $ 1,675 $ 1,543 $ — One-to-four family residential real estate – non-owner occupied 86 46 — Multi-family mortgage - Illinois 375 369 — $ 2,136 $ 1,958 $ — December 31, 2017 One-to-four family residential real estate $ 3,413 $ 1,918 $ — One-to-four family residential real estate – non-owner occupied 308 109 — Multi-family mortgage - Illinois 376 363 — $ 4,097 $ 2,390 $ — |
Past Due Financing Receivables | The following tables present the aging of the recorded investment of loans at March 31, 2018 by class of loans: 30-59 Days Past Due 60-89 Days Past Due 90 Days or Greater Past Due Total Past Due Loans Not Past Due Total One-to-four family residential real estate loans $ 1,875 $ 58 $ 1,398 $ 3,331 $ 68,216 $ 71,547 One-to-four family residential real estate loans – non-owner occupied 368 10 46 424 19,676 20,100 Multi-family mortgage - Illinois 268 — 271 539 273,950 274,489 Multi-family mortgage - Other — — — — 299,725 299,725 Nonresidential real estate 940 — — 940 161,265 162,205 Construction — — — — 1,096 1,096 Land — — — — 234 234 Commercial loans: Regional commercial banking — — — — 48,160 48,160 Health care — — — — 69,980 69,980 Direct commercial lessor — — — — 44,939 44,939 Commercial leases: Investment rated commercial leases 1,727 152 — 1,879 185,386 187,265 Other commercial leases 572 255 — 827 98,900 99,727 Consumer — 22 — 22 1,481 1,503 $ 5,750 $ 497 $ 1,715 $ 7,962 $ 1,273,008 $ 1,280,970 |
Troubled Debt Restructurings on Financing Receivables | The following table presents loans classified as TDRs: March 31, 2018 December 31, 2017 One-to-four family residential real estate - nonaccrual $ 17 $ 17 |
Financing Receivable Credit Quality Indicators | As of March 31, 2018 , based on the most recent analysis performed, the risk categories of loans by class of loans are as follows: Pass Special Mention Substandard Nonaccrual Total One-to-four family residential real estate loans $ 70,004 $ — $ 323 $ 1,539 $ 71,866 One-to-four family residential real estate loans – non-owner occupied 20,105 — 39 46 20,190 Multi-family mortgage loans - Illinois 275,552 — 222 370 276,144 Multi-family mortgage loans - Other 302,000 — — — 302,000 Nonresidential real estate loans 163,707 — 149 — 163,856 Construction loans 1,093 — — — 1,093 Land loans 235 — — — 235 Commercial loans: Regional commercial banking 43,467 4,644 — — 48,111 Health care 67,669 — 2,258 — 69,927 Direct commercial lessor 44,526 — — — 44,526 Commercial leases: Investment rated commercial leases 186,052 — — — 186,052 Other commercial leases 99,170 — — — 99,170 Consumer 1,494 — — — 1,494 $ 1,275,074 $ 4,644 $ 2,991 $ 1,955 $ 1,284,664 |
Loans By Class Modified As Troubled Debt Restructuring On Financing Receivables [Table Text Block] |
Other Real Estate Owned (Tables
Other Real Estate Owned (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Other Real Estate [Abstract] | |
Schedule of Real Estate Properties [Table Text Block] | March 31, 2018 December 31, 2017 Balance Valuation Allowance Net OREO Balance Balance Valuation Allowance Net OREO Balance One–to–four family residential $ 935 $ — $ 935 $ 836 $ (9 ) $ 827 Nonresidential real estate 1,140 (277 ) 863 1,772 (252 ) 1,520 Land 48 (44 ) 4 48 (44 ) 4 $ 2,123 $ (321 ) $ 1,802 $ 2,656 $ (305 ) $ 2,351 |
Real Estate Owned, rollforward [Table Text Block] | March 31, 2018 December 31, 2017 Balance Valuation Allowance Net OREO Balance Balance Valuation Allowance Net OREO Balance One–to–four family residential $ 935 $ — $ 935 $ 836 $ (9 ) $ 827 Nonresidential real estate 1,140 (277 ) 863 1,772 (252 ) 1,520 Land 48 (44 ) 4 48 (44 ) 4 $ 2,123 $ (321 ) $ 1,802 $ 2,656 $ (305 ) $ 2,351 The following represents the roll forward of OREO and the composition of OREO properties: For the Three Months Ended March 31, 2018 2017 Beginning balance $ 2,351 $ 3,895 New foreclosed properties 562 1,936 Valuation adjustments (25 ) (20 ) Sales and payments (1,086 ) (510 ) Ending balance $ 1,802 $ 5,301 |
OREO valuation allowance, rollforward [Table Text Block] | Activity in the valuation allowance is as follows: For the Three Months Ended March 31, 2018 2017 Beginning balance $ 305 $ 449 Additions charged to expense 25 20 Reductions from sales of OREO (9 ) (59 ) Ending balance $ 321 $ 410 At March 31, 2018 , the balance of OREO included no foreclosed residential real estate properties recorded as a result of obtaining physical possession of the property without title. At December 31, 2017 the balance of OREO included $352,000 foreclosed residential real estate properties recorded as a result of obtaining physical possession of the property without title. At March 31, 2018 and December 31, 2017 , the recorded investment of consumer mortgage loans secured by residential real estate properties for which formal foreclosure proceedings were in process was $1.3 million and $1.5 million , respectively. |
Employee Benefit Plans (Tables)
Employee Benefit Plans (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Compensation and Retirement Disclosure [Abstract] | |
Schedule of Employee Stock Ownership Plan (ESOP) Disclosures | Shares held by the ESOP were as follows: March 31, 2018 December 31, 2017 Allocated to participants 1,203,810 1,125,448 Distributed to participants (317,914 ) (313,223 ) Unearned — 831,852 Total ESOP shares 885,896 1,644,077 Fair value of unearned shares $ — $ 12,328 |
Equity Incentive Plans (Tables)
Equity Incentive Plans (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Schedule of Stock Option Activity | A summary of the activity in the stock option plan for 2018 and 2016 follows: Stock Options Number of Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term (in years) Aggregate Intrinsic Value (1) Stock options outstanding at December 31, 2015 1,752,156 $ 12.30 1.48 $ 778 Stock options granted — — Stock options exercised — — Stock options outstanding at December 31, 2016 1,752,156 $ 12.30 0.48 $ 4,422 Stock options granted — — Stock options exercised (1,752,156 ) 12.30 Stock options outstanding at September 30, 2017 — $ — 0 $ — (1) Stock option aggregate intrinsic value represents the number of shares subject to options multiplied by the difference (if positive) in the closing market price of the common stock underlying the options on the date shown and the weighted average exercise price. |
Fair Value (Tables)
Fair Value (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
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 Prices in Active Markets for Identical Assets (Level 1) Significant Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Fair Value March 31, 2018 Securities: Certificates of deposit $ — $ 86,340 $ — $ 86,340 Equity mutual fund 491 — — 491 Mortgage-backed securities – residential — 11,544 — 11,544 Collateralized mortgage obligations – residential — 4,277 — 4,277 SBA-guaranteed loan participation certificates — 9 — 9 $ 491 $ 102,170 $ — $ 102,661 December 31, 2017 Securities: Certificates of deposit $ — $ 75,916 $ — $ 75,916 Equity mutual fund 499 — — 499 Mortgage-backed securities - residential — 12,472 — 12,472 Collateralized mortgage obligations – residential — 4,486 — 4,486 SBA-guaranteed loan participation certificates — 10 — 10 $ 499 $ 92,884 $ — $ 93,383 |
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 Active Markets for Identical Assets (Level 1) Significant Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Fair Value March 31, 2018 Other real estate owned - nonresidential real estate $ — $ — $ 409 $ 409 December 31, 2017 Other real estate owned: One-to-four family residential real estate $ — $ — $ 102 $ 102 Nonresidential real estate — — 814 814 $ — $ — $ 916 $ 916 |
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: Fair Value Valuation Significant Unobservable Range March 31, 2018 Other real estate owned - nonresidential real estate loans $ 409 Sales comparison Comparison between sales and income approaches 12.70% to 26.77% December 31, 2017 Other real estate owned One-to-four family residential real estate $ 102 Sales comparison Discount applied to valuation 5.6% Nonresidential real estate 814 Sales comparison Comparison between sales and income approaches -3.66% to 15.22% (11.0%) $ 916 |
Carrying amount and estimated fair value of financial instruments | The carrying amount and estimated fair value of financial instruments are as follows: Fair Value Measurements at March 31, 2018 Using: Carrying Amount Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents $ 92,576 $ 10,613 $ 81,963 $ — $ 92,576 Securities 102,661 491 102,170 — 102,661 Loans receivable, net of allowance for loan losses 1,277,553 — — 1,276,635 1,276,635 FHLB and FRB stock 8,290 — — — N/A Accrued interest receivable 4,900 — 4,900 — 4,900 Financial liabilities Noninterest-bearing demand deposits $ 232,593 $ — $ 232,593 $ — $ 232,593 NOW and money market accounts 573,886 — 573,886 — 573,886 Savings deposits 160,093 — 160,093 — 160,093 Certificates of deposit 311,435 — 308,904 — 308,904 Borrowings 60,983 — 60,832 — 60,832 Accrued interest payable 180 — 180 — 180 Fair Value Measurements at December 31, 2017 Using: Carrying Amount Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents $ 127,592 $ 13,572 $ 114,020 $ — $ 127,592 Securities 93,383 499 92,884 — 93,383 Loans receivable, net of allowance for loan losses 1,314,651 — 1,323,139 — 1,323,139 FHLB and FRB stock 8,290 — — — N/A Accrued interest receivable 4,619 — 4,619 — 4,619 Financial liabilities Noninterest-bearing demand deposits $ 234,354 $ — $ 234,354 $ — $ 234,354 NOW and money market accounts 589,238 — 589,238 — 589,238 Savings deposits 160,501 — 160,501 — 160,501 Certificates of deposit 355,958 — 353,969 — 353,969 Borrowings 60,768 — 60,627 — 60,627 Accrued interest payable 147 — 147 — 147 |
Revenue From Contracts With C28
Revenue From Contracts With Customers (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Revenue Recognition [Abstract] | |
Noninterest Income Outside the Scope of ASC 606 | The following table presents the Company's sources of noninterest income for the three months ended March 31, 2018 and 2017 . Items outside of the scope of the ASC 606 are noted as such. Three Months Ended 2018 2017 Deposit service charges and fees $ 978 $ 950 Loan fee income (1) 70 60 Commercial mortgage brokerage fees (1) 41 — Residential mortgage banking fees (1) 30 44 Trust and insurance commissions and annuities income 213 249 Earnings on bank owned life insurance (1) 66 63 Other (1) 141 178 Total noninterest income $ 1,539 $ 1,544 (1) Not within the scope of ASC 606 |
Earnings Per Share (Details)
Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Earnings Per Share, Basic and Diluted [Abstract] | ||
Net income available to common stockholders | $ 3,559 | $ 1,881 |
Average common shares outstanding (shares) | 17,931,579 | 19,243,941 |
Less: | ||
Unearned ESOP shares (shares) | 0 | (600,947) |
Unvested restricted stock shares (shares) | (940) | (940) |
Weighted average common shares outstanding (shares) | 17,930,639 | 18,642,054 |
Add - Net effect of dilutive stock options and unvested restricted stock | 461 | 5,462 |
Weighted average diluted common shares outstanding (shares) | 17,931,100 | 18,647,516 |
Basic earnings per common share (usd per share) | $ 0.20 | $ 0.10 |
Diluted earnings per common share (usd per share) | $ 0.20 | $ 0.10 |
Securities - Fair Value of Secu
Securities - Fair Value of Securites (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Unrealized gains and losses recognized in accumulated other comprehensive income (loss) | ||
Amortized Cost | $ 101,767 | $ 92,876 |
Available for sale securities, accumulated gross unrealized gain before tax | 457 | 536 |
Available for sale securities, accumulated gross unrealized loss before tax | (54) | (29) |
Total Fair value | 102,170 | 93,383 |
Certificates of deposit [Member] | ||
Unrealized gains and losses recognized in accumulated other comprehensive income (loss) | ||
Amortized Cost | 86,340 | 75,916 |
Available for sale securities, accumulated gross unrealized gain before tax | 0 | 0 |
Available for sale securities, accumulated gross unrealized loss before tax | 0 | 0 |
Total Fair value | 86,340 | 75,916 |
Equity mutual fund [Member] | ||
Unrealized gains and losses recognized in accumulated other comprehensive income (loss) | ||
Amortized Cost | 500 | |
Available for sale securities, accumulated gross unrealized gain before tax | 0 | |
Available for sale securities, accumulated gross unrealized loss before tax | (1) | |
Total Fair value | 491 | 499 |
Mortgage - backed securities - residential [Member] | ||
Unrealized gains and losses recognized in accumulated other comprehensive income (loss) | ||
Amortized Cost | 11,146 | 11,969 |
Available for sale securities, accumulated gross unrealized gain before tax | 441 | 520 |
Available for sale securities, accumulated gross unrealized loss before tax | (43) | (17) |
Total Fair value | 11,544 | 12,472 |
Collateralized mortgage obligations - residential [Member] | ||
Unrealized gains and losses recognized in accumulated other comprehensive income (loss) | ||
Amortized Cost | 4,272 | 4,481 |
Available for sale securities, accumulated gross unrealized gain before tax | 16 | 16 |
Available for sale securities, accumulated gross unrealized loss before tax | (11) | (11) |
Total Fair value | 4,277 | 4,486 |
SBA-guaranteed loan participation certificates [Member] | ||
Unrealized gains and losses recognized in accumulated other comprehensive income (loss) | ||
Amortized Cost | 9 | 10 |
Available for sale securities, accumulated gross unrealized gain before tax | 0 | 0 |
Available for sale securities, accumulated gross unrealized loss before tax | 0 | 0 |
Total Fair value | $ 9 | $ 10 |
Securities - Amortized Cost and
Securities - Amortized Cost and Fair Value (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Amortized cost and fair values of securities | ||
Due in one year or less, amortized cost | $ 86,340 | |
Due in one year or less, fair value | 86,340 | |
Total amortized cost | 101,767 | $ 92,876 |
Total Fair value | 102,170 | 93,383 |
Equity mutual fund [Member] | ||
Amortized cost and fair values of securities | ||
Total amortized cost | 500 | |
Total Fair value | 491 | 499 |
Mortgage - backed securities - residential [Member] | ||
Amortized cost and fair values of securities | ||
Total amortized cost | 11,146 | 11,969 |
Total Fair value | 11,544 | 12,472 |
Collateralized mortgage obligations - residential [Member] | ||
Amortized cost and fair values of securities | ||
Total amortized cost | 4,272 | 4,481 |
Total Fair value | 4,277 | 4,486 |
SBA-guaranteed loan participation certificates [Member] | ||
Amortized cost and fair values of securities | ||
Total amortized cost | 9 | 10 |
Total Fair value | $ 9 | $ 10 |
Securities - Proceeds and Gross
Securities - Proceeds and Gross Gains (Losses) From Sale of Securities (Details) $ in Thousands | 3 Months Ended |
Mar. 31, 2018USD ($) | |
Proceeds and Gross Gains (Losses) from Sale of Securities [Abstract] | |
Gain on Sale of Securities, Net | $ 0 |
Securities - Unrealized Losses
Securities - Unrealized Losses (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2018 | Dec. 31, 2017 | |
Amortized cost and fair values of securities | ||
Less than 12 Months, Fair Value | $ 0 | $ 499 |
12 Months or More, Fair Value | 3,094 | 3,232 |
Fair Value, Total | 3,094 | 3,731 |
Unrealized loss of securities | ||
Less than 12 Months, Unrealized Loss | 0 | (1) |
12 Months or More, Unrealized Loss | (54) | (28) |
Unrealized Loss, Total | (54) | (29) |
Mortgage Backed Securities Residential [Member] | ||
Amortized cost and fair values of securities | ||
Less than 12 Months, Fair Value | 0 | 0 |
12 Months or More, Fair Value | 1,111 | 1,149 |
Fair Value, Total | 1,111 | 1,149 |
Unrealized loss of securities | ||
Less than 12 Months, Unrealized Loss | 0 | 0 |
12 Months or More, Unrealized Loss | (43) | (17) |
Unrealized Loss, Total | (43) | (17) |
Collateralized mortgage obligations - residential [Member] | ||
Amortized cost and fair values of securities | ||
Less than 12 Months, Fair Value | 0 | 0 |
12 Months or More, Fair Value | 1,983 | 2,083 |
Fair Value, Total | 1,983 | 2,083 |
Unrealized loss of securities | ||
Less than 12 Months, Unrealized Loss | 0 | 0 |
12 Months or More, Unrealized Loss | (11) | (11) |
Unrealized Loss, Total | $ (11) | (11) |
Equity Funds [Member] | ||
Amortized cost and fair values of securities | ||
Less than 12 Months, Fair Value | 499 | |
12 Months or More, Fair Value | 0 | |
Fair Value, Total | 499 | |
Unrealized loss of securities | ||
Less than 12 Months, Unrealized Loss | (1) | |
12 Months or More, Unrealized Loss | 0 | |
Unrealized Loss, Total | $ (1) |
Loans Receivable (Details)
Loans Receivable (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 | Mar. 31, 2017 | Dec. 31, 2016 |
Loans receivable | ||||
Total loans | $ 1,284,664 | $ 1,321,751 | ||
Net deferred loan origination costs | 1,230 | 1,266 | ||
Allowance for loan losses | (8,341) | (8,366) | $ (7,971) | $ (8,127) |
Loans, net | 1,277,553 | 1,314,651 | ||
One-to-four family residential real estate loans [Member] | ||||
Loans receivable | ||||
Total loans | 92,056 | 97,814 | ||
Allowance for loan losses | (765) | (850) | ||
Multi-family mortgage loans [Member] | ||||
Loans receivable | ||||
Total loans | 578,144 | 588,383 | ||
Allowance for loan losses | (3,866) | (3,849) | ||
Nonresidential real estate loans [Member] | ||||
Loans receivable | ||||
Total loans | 163,856 | 169,971 | ||
Allowance for loan losses | (1,577) | (1,605) | ||
Construction and land loans [Member] | ||||
Loans receivable | ||||
Total loans | 1,328 | 1,358 | ||
Allowance for loan losses | (32) | (32) | ||
Commercial loans [Member] | ||||
Loans receivable | ||||
Total loans | 162,564 | 152,552 | ||
Allowance for loan losses | (1,441) | (1,357) | ||
Commercial leases [Member] | ||||
Loans receivable | ||||
Total loans | 285,222 | 310,076 | ||
Allowance for loan losses | (650) | (655) | ||
Consumer loans [Member] | ||||
Loans receivable | ||||
Total loans | 1,494 | 1,597 | ||
Allowance for loan losses | $ (10) | $ (18) |
Loans Receivable - Loan Origina
Loans Receivable - Loan Origination and Risk Management (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, amount | $ 1,284,664 | $ 1,321,751 |
Multi-family mortgage loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, amount | 578,144 | 588,383 |
Nonresidential Real Estate Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, amount | 163,856 | 169,971 |
Commercial leases [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans and leases, amount | $ 285,222 | $ 310,076 |
Loans Receivable - Allowance fo
Loans Receivable - Allowance for Loan Losses (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Allowance for loan losses and the loans receivable by portfolio segment | ||
Net deferred loan origination costs | $ 1,230 | $ 1,266 |
Loans, net | $ 1,277,553 | $ 1,314,651 |
Loans Receivable - Activity in
Loans Receivable - Activity in the Allowance for Loan Losses (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Allowance for Loan and Lease Losses [Roll Forward] | ||
Beginning balance | $ 8,366 | $ 8,127 |
Loans charged off | 97 | 339 |
Recoveries | 330 | 22 |
Net charge-off | (233) | 317 |
Provision for (recovery of) loan losses | (258) | 161 |
Ending balance | 8,341 | 7,971 |
One-to-four family residential real estate loans [Member] | ||
Allowance for Loan and Lease Losses [Roll Forward] | ||
Beginning balance | 850 | |
Loans charged off | (97) | (171) |
Recoveries | 99 | 6 |
Ending balance | 765 | |
Multi-family mortgage loans [Member] | ||
Allowance for Loan and Lease Losses [Roll Forward] | ||
Beginning balance | 3,849 | |
Loans charged off | 0 | (3) |
Recoveries | 8 | 11 |
Ending balance | 3,866 | |
Nonresidential real estate loans [Member] | ||
Allowance for Loan and Lease Losses [Roll Forward] | ||
Beginning balance | 1,605 | |
Loans charged off | 0 | (165) |
Ending balance | 1,577 | |
Construction and land loans [Member] | ||
Allowance for Loan and Lease Losses [Roll Forward] | ||
Beginning balance | 32 | |
Ending balance | 32 | |
Commercial loans [Member] | ||
Allowance for Loan and Lease Losses [Roll Forward] | ||
Beginning balance | 1,357 | |
Recoveries | 223 | $ 5 |
Ending balance | 1,441 | |
Commercial leases [Member] | ||
Allowance for Loan and Lease Losses [Roll Forward] | ||
Beginning balance | 655 | |
Ending balance | 650 | |
Consumer loans [Member] | ||
Allowance for Loan and Lease Losses [Roll Forward] | ||
Beginning balance | 18 | |
Ending balance | $ 10 |
Loans Receivable - Loans Indivi
Loans Receivable - Loans Individually Evaluated for Impairment (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2018 | Dec. 31, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total loans | $ 1,284,664 | $ 1,321,751 | ||
Loans individually evaluated for impairment by class loans | ||||
Loan Balance | 6,007 | |||
Recorded Investment | 5,196 | |||
Partial Charge-off | 806 | |||
Average Investment in Impaired Loans | 5,059 | |||
Interest Income Recognized | 238 | |||
Allowance for loan losses (With an allowance recorded) | 0 | 0 | ||
Impaired Loan, Total | 5,163 | |||
Recorded Investment, Total | 4,506 | |||
Partial Charge-offs, Total | 651 | |||
Average Investment in Impaired Loans, Total | 4,954 | |||
Interest Income Recognized, Total | 26 | |||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 8,341 | 8,366 | ||
Net deferred loan origination costs | 1,230 | 1,266 | ||
Loans and Leases Receivable, Allowance | 8,341 | 8,366 | $ 7,971 | $ 8,127 |
Financing Receivable, Individually Evaluated for Impairment | 4,523 | 5,214 | ||
Financing Receivable, Collectively Evaluated for Impairment | 1,280,141 | 1,316,537 | ||
Loans, net | 1,277,553 | 1,314,651 | ||
One-to-four family residential real estate loans [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total loans | 92,056 | 97,814 | ||
Loans individually evaluated for impairment by class loans | ||||
Loan Balance | 4,211 | 5,049 | ||
Recorded Investment | 3,556 | 4,248 | ||
Partial Charge-off | 651 | 806 | ||
Average Investment in Impaired Loans | 4,002 | 4,212 | ||
Interest Income Recognized | 15 | 197 | ||
Allowance for loan losses (With an allowance recorded) | 0 | 0 | ||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 765 | 850 | ||
Loans and Leases Receivable, Allowance | 765 | 850 | ||
Financing Receivable, Individually Evaluated for Impairment | 3,576 | 4,265 | ||
Financing Receivable, Collectively Evaluated for Impairment | 88,480 | 93,549 | ||
One-to-four family residential real estate loans - non-owner occupied loans [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total loans | 20,190 | 21,208 | ||
Multi-family mortgage loans [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total loans | 578,144 | 588,383 | ||
Loans individually evaluated for impairment by class loans | ||||
Loan Balance | 952 | 958 | ||
Recorded Investment | 950 | 948 | ||
Partial Charge-off | 0 | 0 | ||
Average Investment in Impaired Loans | 952 | 847 | ||
Interest Income Recognized | 11 | 41 | ||
Allowance for loan losses (With an allowance recorded) | 0 | 0 | ||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 3,866 | 3,849 | ||
Loans and Leases Receivable, Allowance | 3,866 | 3,849 | ||
Financing Receivable, Individually Evaluated for Impairment | 947 | 949 | ||
Financing Receivable, Collectively Evaluated for Impairment | 577,197 | 587,434 | ||
Multi Family Mortgage Loans without wholesale [Member] [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total loans | 276,144 | 291,358 | ||
Wholesale commercial lending [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total loans | 302,000 | 297,025 | ||
Nonresidential real estate loans [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total loans | 163,856 | 169,971 | ||
Loans individually evaluated for impairment by class loans | ||||
Allowance for loan losses (With an allowance recorded) | 0 | 0 | ||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 1,577 | 1,605 | ||
Loans and Leases Receivable, Allowance | 1,577 | 1,605 | ||
Financing Receivable, Individually Evaluated for Impairment | 0 | 0 | ||
Financing Receivable, Collectively Evaluated for Impairment | 163,856 | 169,971 | ||
Construction Loans [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total loans | 1,093 | 1,099 | ||
Land loans [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total loans | 235 | 259 | ||
Commercial loans - Secured [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total loans | 48,111 | 40,901 | ||
Commercial loans - other [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total loans | 99,170 | 102,616 | ||
Consumer loans [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total loans | 1,494 | 1,597 | ||
Loans individually evaluated for impairment by class loans | ||||
Allowance for loan losses (With an allowance recorded) | 0 | 0 | ||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 10 | 18 | ||
Loans and Leases Receivable, Allowance | 10 | 18 | ||
Financing Receivable, Individually Evaluated for Impairment | 0 | 0 | ||
Financing Receivable, Collectively Evaluated for Impairment | 1,494 | 1,597 | ||
Construction And Land Loans [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total loans | 1,328 | 1,358 | ||
Loans individually evaluated for impairment by class loans | ||||
Allowance for loan losses (With an allowance recorded) | 0 | 0 | ||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 32 | 32 | ||
Loans and Leases Receivable, Allowance | 32 | 32 | ||
Financing Receivable, Individually Evaluated for Impairment | 0 | 0 | ||
Financing Receivable, Collectively Evaluated for Impairment | 1,328 | 1,358 | ||
Commercial Loan [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total loans | 162,564 | 152,552 | ||
Loans individually evaluated for impairment by class loans | ||||
Allowance for loan losses (With an allowance recorded) | 0 | 0 | ||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 1,441 | 1,357 | ||
Loans and Leases Receivable, Allowance | 1,441 | 1,357 | ||
Financing Receivable, Individually Evaluated for Impairment | 0 | 0 | ||
Financing Receivable, Collectively Evaluated for Impairment | 162,564 | 152,552 | ||
Finance Leases Financing Receivable [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total loans | 285,222 | 310,076 | ||
Loans individually evaluated for impairment by class loans | ||||
Allowance for loan losses (With an allowance recorded) | 0 | 0 | ||
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 650 | 655 | ||
Loans and Leases Receivable, Allowance | 650 | 655 | ||
Financing Receivable, Individually Evaluated for Impairment | 0 | 0 | ||
Financing Receivable, Collectively Evaluated for Impairment | 285,222 | 310,076 | ||
One to Four Family Residential Real Estate Loans-Owner occupied [Member] [Member] | ||||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||||
Total loans | $ 71,866 | $ 76,606 |
Loans Receivable - Nonaccrual L
Loans Receivable - Nonaccrual Loans (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Reserve For Uncollected Loan Interest | $ 76 | $ 103 |
Unpaid Principal Balance | 2,136 | 4,097 |
Recorded Investment | 1,958 | 2,390 |
Loans Past Due Over 90 Days, still accruing | 0 | 0 |
One-to-four family residential real estate loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Unpaid Principal Balance | 1,675 | 3,413 |
Recorded Investment | 1,543 | 1,918 |
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 | 86 | 308 |
Recorded Investment | 46 | 109 |
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 | 375 | 376 |
Recorded Investment | 369 | 363 |
Loans Past Due Over 90 Days, still accruing | $ 0 | $ 0 |
Loans Receivable - Past Due Loa
Loans Receivable - Past Due Loans (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | $ 7,962 | $ 4,451 |
Recorded Investment, Loans Not Past Due | 1,273,008 | 1,311,339 |
Recorded investment, total | 1,280,970 | 1,315,790 |
Commercial Leases Investment Rated [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 1,879 | 934 |
Recorded Investment, Loans Not Past Due | 185,386 | 207,747 |
Recorded investment, total | 187,265 | 208,681 |
Commercial Loans Other [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 827 | 288 |
Recorded Investment, Loans Not Past Due | 98,900 | 102,873 |
Recorded investment, total | 99,727 | 103,161 |
Consumer Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 22 | 0 |
Recorded Investment, Loans Not Past Due | 1,481 | 1,605 |
Recorded investment, total | 1,503 | 1,605 |
Commercial Loans Health Care [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Loans Not Past Due | 69,980 | 71,738 |
Recorded investment, total | 69,980 | 71,738 |
Commercial Loans Municipal [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 0 | 0 |
Recorded Investment, Loans Not Past Due | 44,939 | 40,237 |
Recorded investment, total | 44,939 | 40,237 |
Commercial loans - unsecured [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 0 | 0 |
Commercial loans - Secured [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 0 | 0 |
Recorded Investment, Loans Not Past Due | 48,160 | 40,935 |
Recorded investment, total | 48,160 | 40,935 |
Land Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 0 | 0 |
Recorded Investment, Loans Not Past Due | 234 | 259 |
Recorded investment, total | 234 | 259 |
Construction Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 0 | 0 |
Recorded Investment, Loans Not Past Due | 1,096 | 1,103 |
Recorded investment, total | 1,096 | 1,103 |
Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 940 | 608 |
Recorded Investment, Loans Not Past Due | 161,265 | 166,071 |
Recorded investment, total | 162,205 | 166,679 |
Wholesale Commercial Lending [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 0 | 0 |
Recorded Investment, Loans Not Past Due | 299,725 | 296,440 |
Recorded investment, total | 299,725 | 296,440 |
Multi Family Mortgage Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 539 | 536 |
Recorded Investment, Loans Not Past Due | 273,950 | 287,171 |
Recorded investment, total | 274,489 | 287,707 |
One To Four Family Residential Real Estate Loans Non Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 424 | 99 |
Recorded Investment, Loans Not Past Due | 19,676 | 20,944 |
Recorded investment, total | 20,100 | 21,043 |
One to Four Family Residential Real Estate Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 3,331 | 1,986 |
Recorded Investment, Loans Not Past Due | 68,216 | 74,216 |
Recorded investment, total | 71,547 | 76,202 |
Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 5,750 | 2,098 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Commercial Leases Investment Rated [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 1,727 | 934 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Commercial Loans Other [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 572 | 288 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Consumer Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 0 | 0 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Commercial Loans Municipal [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 0 | 0 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Commercial loans - unsecured [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 0 | 0 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Commercial loans - Secured [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 0 | 0 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Land Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 0 | 0 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Construction Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 0 | 0 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 940 | 608 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Wholesale Commercial Lending [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 0 | 0 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Multi Family Mortgage Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 268 | 172 |
Financing Receivables, 30 to 59 Days Past Due [Member] | One To Four Family Residential Real Estate Loans Non Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 368 | 10 |
Financing Receivables, 30 to 59 Days Past Due [Member] | One to Four Family Residential Real Estate Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 1,875 | 86 |
Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 497 | 102 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Commercial Leases Investment Rated [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 0 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Commercial Loans Other [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 255 | 0 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Consumer Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 22 | 0 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Commercial Loans Health Care [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 152 | |
Financing Receivables, 60 to 89 Days Past Due [Member] | Commercial Loans Municipal [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 0 | 0 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Commercial loans - unsecured [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 0 | 0 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Commercial loans - Secured [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 0 | 0 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Land Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 0 | 0 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Construction Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 0 | 0 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 0 | 0 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Wholesale Commercial Lending [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 0 | 0 |
Financing Receivables, 60 to 89 Days Past Due [Member] | Multi Family Mortgage Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 0 | 0 |
Financing Receivables, 60 to 89 Days Past Due [Member] | One To Four Family Residential Real Estate Loans Non Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 10 | 3 |
Financing Receivables, 60 to 89 Days Past Due [Member] | One to Four Family Residential Real Estate Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 58 | 99 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Commercial Leases Investment Rated [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 1,715 | 2,251 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Commercial Loans Other [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 0 | 0 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Consumer Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 0 | 0 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Commercial Loans Health Care [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 0 | 0 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Commercial Loans Municipal [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 0 | 0 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Commercial loans - unsecured [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 0 | 0 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Commercial loans - Secured [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 0 | 0 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Land Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 0 | 0 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Construction Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 0 | 0 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 0 | 0 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Wholesale Commercial Lending [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 0 | 0 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Multi Family Mortgage Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 271 | 364 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | One To Four Family Residential Real Estate Loans Non Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | 46 | 86 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | One to Four Family Residential Real Estate Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Recorded Investment, Total Past Due | $ 1,398 | $ 1,801 |
Loans Receivable - Troubled Deb
Loans Receivable - Troubled Debt Restructuring (Details) - USD ($) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2018 | Dec. 31, 2017 | |
Financing Receivable, Modifications [Line Items] | ||
Outstanding Commitments To Borrowers Loans Classified As Troubled Debt Restructurings | $ 0 | $ 0 |
Troubled Debt Restructurings | ||
Financing receivable modifications | 17,000 | |
One-to-four family residential real estate loans - non-owner occupied loans [Member] | Non Accrual Loans [Member] | ||
Troubled Debt Restructurings | ||
Financing receivable modifications | 17,000 | 17,000 |
Allowance for Loan and Lease Losses [Member] | ||
Troubled Debt Restructurings | ||
Valuation Allowances and Reserves, Balance | $ 0 | $ 0 |
Loans Receivable - Modified Tro
Loans Receivable - Modified Troubled Debt Restructuring (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Financing Receivable, Modifications [Line Items] | ||
Loans modified | $ 0 | $ 133 |
Loans Receivable - Credit Quali
Loans Receivable - Credit Quality Indicators (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | $ 7,962 | $ 4,451 |
Financing Receivable Credit Quality Indicators | ||
Total loans | 1,284,664 | 1,321,751 |
One-to-four family residential real estate loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 3,331 | 1,986 |
Financing Receivable Credit Quality Indicators | ||
Total loans | 92,056 | 97,814 |
One to Four Family Residential Real Estate Loans-Owner occupied [Member] [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 71,866 | 76,606 |
One-to-four family residential real estate loans - non-owner occupied loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 424 | 99 |
Financing Receivable Credit Quality Indicators | ||
Total loans | 20,190 | 21,208 |
Multi-family mortgage loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 539 | 536 |
Financing Receivable Credit Quality Indicators | ||
Total loans | 578,144 | 588,383 |
Multi Family Mortgage Loans without wholesale [Member] [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 276,144 | 291,358 |
Wholesale commercial lending [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 |
Financing Receivable Credit Quality Indicators | ||
Total loans | 302,000 | 297,025 |
Nonresidential Real Estate Loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 163,856 | 169,971 |
Construction loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 |
Financing Receivable Credit Quality Indicators | ||
Total loans | 1,093 | 1,099 |
Land loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 |
Financing Receivable Credit Quality Indicators | ||
Total loans | 235 | 259 |
Commercial loans - Secured [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 |
Financing Receivable Credit Quality Indicators | ||
Total loans | 48,111 | 40,901 |
Commercial Loans - Municipal loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 |
Financing Receivable Credit Quality Indicators | ||
Total loans | 44,526 | 39,923 |
Commercial Loans - Warehouse Lines [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | ||
Commercial Loans - Health Care [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 69,927 | 71,728 |
Commercial loans - other [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 827 | 288 |
Financing Receivable Credit Quality Indicators | ||
Total loans | 99,170 | 102,616 |
Commercial Leases - Investment Rated [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 1,879 | 934 |
Financing Receivable Credit Quality Indicators | ||
Total loans | 186,052 | 207,460 |
Consumer loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 1,494 | 1,597 |
Nonaccrual [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 1,955 | 2,391 |
Nonaccrual [Member] | One-to-four family residential real estate loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 1,539 | 1,914 |
Nonaccrual [Member] | One-to-four family residential real estate loans - non-owner occupied loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 46 | 109 |
Nonaccrual [Member] | Multi-family mortgage loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 370 | 368 |
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 | 0 | 0 |
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 | 0 |
Nonaccrual [Member] | Commercial loans - Secured [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 - 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 |
Substandard [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 2,991 | 2,922 |
Substandard [Member] | One-to-four family residential real estate loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 323 | 255 |
Substandard [Member] | One-to-four family residential real estate loans - non-owner occupied loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 39 | 40 |
Substandard [Member] | Multi-family mortgage loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 222 | 225 |
Substandard [Member] | Wholesale commercial lending [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 0 | 0 |
Substandard [Member] | Nonresidential Real Estate Loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 149 | 154 |
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 | 0 | 0 |
Substandard [Member] | Commercial loans - Secured [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 0 | 0 |
Substandard [Member] | Commercial Loans - Municipal loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 0 | 0 |
Substandard [Member] | Commercial Loans - Health Care [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 2,258 | 2,248 |
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] | Consumer loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 0 | 0 |
Pass [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 1,275,074 | 1,311,910 |
Pass [Member] | One-to-four family residential real estate loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 70,004 | 74,437 |
Pass [Member] | One-to-four family residential real estate loans - non-owner occupied loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 20,105 | 21,059 |
Pass [Member] | Multi-family mortgage loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 275,552 | 290,765 |
Pass [Member] | Wholesale commercial lending [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 302,000 | 297,025 |
Pass [Member] | Nonresidential Real Estate Loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 163,707 | 169,817 |
Pass [Member] | Construction loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 1,093 | 1,099 |
Pass [Member] | Land loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 235 | 259 |
Pass [Member] | Commercial loans - Secured [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 43,467 | 36,373 |
Pass [Member] | Commercial Loans - Municipal loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 44,526 | 39,923 |
Pass [Member] | Commercial Loans - Health Care [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 67,669 | 69,480 |
Pass [Member] | Commercial loans - other [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 99,170 | 102,616 |
Pass [Member] | Commercial Leases - Investment Rated [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 186,052 | 207,460 |
Pass [Member] | Consumer loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 1,494 | 1,597 |
Special Mention [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 4,644 | 4,528 |
Special Mention [Member] | One-to-four family residential real estate loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 0 | 0 |
Special Mention [Member] | One-to-four family residential real estate loans - non-owner occupied loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 0 | 0 |
Special Mention [Member] | Multi-family mortgage loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 0 | 0 |
Special Mention [Member] | Wholesale commercial lending [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 0 | 0 |
Special Mention [Member] | Nonresidential Real Estate Loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 0 | 0 |
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 | 4,644 | 4,528 |
Special Mention [Member] | Commercial Loans - Municipal loans [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] | Consumer loans [Member] | ||
Financing Receivable Credit Quality Indicators | ||
Total loans | 0 | 0 |
Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 5,750 | 2,098 |
Financing Receivables, 30 to 59 Days Past Due [Member] | One-to-four family residential real estate loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 1,875 | 86 |
Financing Receivables, 30 to 59 Days Past Due [Member] | One-to-four family residential real estate loans - non-owner occupied loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 368 | 10 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Multi-family mortgage loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 268 | 172 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Wholesale commercial lending [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Construction loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Land loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Commercial loans - Secured [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Commercial Loans - Municipal loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 0 | 0 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Commercial loans - other [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | 572 | 288 |
Financing Receivables, 30 to 59 Days Past Due [Member] | Commercial Leases - Investment Rated [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Recorded Investment, Past Due | $ 1,727 | $ 934 |
Loans Receivable - Narrative (D
Loans Receivable - Narrative (Details) - USD ($) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 | |
Valuation and Qualifying Accounts Disclosure [Line Items] | |||
Reserve For Uncollected Loan Interest | $ 76,000 | $ 103,000 | |
Financing receivable modifications | 17,000 | ||
Outstanding Commitments To Borrowers Loans Classified As Troubled Debt Restructurings | 0 | 0 | |
Loans modified | 0 | $ 133,000 | |
Allowance for Loan and Lease Losses [Member] | |||
Valuation and Qualifying Accounts Disclosure [Line Items] | |||
Valuation of reserves allocation | $ 0 | $ 0 |
Other Real Estate Owned (Detail
Other Real Estate Owned (Details) - USD ($) $ in Thousands | 3 Months Ended | |||
Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 | Dec. 31, 2016 | |
Mortgage Loans in Process of Foreclosure, Amount | $ 1,300 | $ 1,500 | ||
Other Real Estate Owned At Carrying Value | 1,802 | $ 5,301 | 2,351 | $ 3,895 |
Real Estate Owned, Valuation Allowance, Amounts Applied | (9) | (59) | ||
Real Estate Owned, Valuation Allowance, Valuation Increase | 25 | 20 | ||
Real Estate Owned, Valuation Allowance | (321) | (410) | (305) | $ (449) |
Other Real Estate, Disposals | (1,086) | (510) | ||
Other Real Estate, Valuation Adjustments | (25) | (20) | ||
Other Real Estate, Additions | 562 | $ 1,936 | ||
Other real estate owned at carrying value before valuation allowance | 2,123 | 2,656 | ||
Foreclosed Residential Real Estate [Member] | ||||
Real Estate Owned, Valuation Allowance | (352) | |||
One to Four Family Residential Real Estate Loans [Member] | ||||
Other Real Estate Owned At Carrying Value | 935 | 827 | ||
Real Estate Owned, Valuation Allowance | 0 | (9) | ||
Other real estate owned at carrying value before valuation allowance | 935 | 836 | ||
Nonresidential Real Estate [Member] | ||||
Other Real Estate Owned At Carrying Value | 863 | 1,520 | ||
Real Estate Owned, Valuation Allowance | (277) | (252) | ||
Other real estate owned at carrying value before valuation allowance | 1,140 | 1,772 | ||
Land [Member] | ||||
Other Real Estate Owned At Carrying Value | 4 | 4 | ||
Real Estate Owned, Valuation Allowance | (44) | (44) | ||
Other real estate owned at carrying value before valuation allowance | $ 48 | $ 48 |
Securities Sold Under Agreement
Securities Sold Under Agreements to Repurchase (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Federal Funds Purchased and Securities Sold under Agreements to Repurchase [Abstract] | ||
Available-for-sale Securities Pledged as Collateral | $ 3,300 | $ 3,700 |
Carrying Value of Federal Funds Purchased, Securities Sold under Agreements to Repurchase, and Deposits Received for Securities Loaned | 983 | 768 |
Federal Home Loan Bank Advances [Member] | Period One [Member] | ||
Federal Home Loan Bank, Advances [Line Items] | ||
Debt, Long-term and Short-term, Combined Amount | $ 60,000 | $ 60,000 |
Employee Benefit Plans - Employ
Employee Benefit Plans - Employee Stock Ownership Plan (Details) - USD ($) | Mar. 29, 2017 | Jun. 30, 2005 | Mar. 31, 2018 | Dec. 31, 2017 |
Compensation Related Costs, Retirement and Share Based Payment [Line Items] | ||||
ESOP compensation expense | $ 1,100,000 | $ 1,300,000 | ||
Loan receivable from ESOP | $ 19,600,000 | |||
ESOP issued price (usd per share) | $ 10 | |||
Employee Stock Ownership Plan (ESOP), Shares in ESOP [Abstract] | ||||
Allocated to participants (shares) | 1,203,810 | 1,125,448 | ||
Distributed to participants | (317,914) | (313,223) | ||
Unearned (shares) | 0 | 831,852 | ||
Total ESOP shares (shares) | 78,362 | 885,896 | 1,644,077 | |
Fair value of unearned shares | $ 0 | $ 12,328,000 | ||
Common Stock [Member] | ||||
Compensation Related Costs, Retirement and Share Based Payment [Line Items] | ||||
Repayments of debt, shares issued (shares) | 753,490 | |||
ESOP shares purchased (shares) | 1,957,300 | |||
Share Acquisition Loan [Member] | ||||
Compensation Related Costs, Retirement and Share Based Payment [Line Items] | ||||
Loans payable | $ 0 | $ 10,800,000 |
Equity Incentive Plans - Narrat
Equity Incentive Plans - Narrative (Details) - USD ($) $ in Thousands | Jun. 27, 2006 | Mar. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Stock Options Outstanding | 0 | 1,752,156 | 1,752,156 | |
Share-based compensation expense | $ 0 | $ 979 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 1,752,156 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Net Settlement Share Issuance | 280,554 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Shares Issued in Period | 198,026 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Shares Withheld For Taxes | 82,528 | |||
2006 Plan [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Number of shares authorized (shares) | 3,425,275 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years |
Equity Incentive Plans - Schedu
Equity Incentive Plans - Schedule of Stock Options (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | |||
Stock Options Outstanding | 0 | 1,752,156 | 1,752,156 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Roll Forward] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price | $ 0 | $ 0 | $ 0 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term | 5 months 23 days | 1 year 5 months 23 days | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | $ 778 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Aggregate Intrinsic Value | $ 0 | $ 4,422 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | (1,752,156) | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 0 |
Fair Value - Financial Assets A
Fair Value - Financial Assets Accounted for at Fair Value (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 | |
Schedule of Company's financial instruments measured at fair values | |||
Total Fair value | $ 102,170 | $ 93,383 | |
Real Estate Acquired Through Foreclosure Fair Value | 916 | ||
Real Estate Owned, Valuation Allowance, Valuation Increase | 25 | $ 20 | |
Certificates of deposit [Member] | |||
Schedule of Company's financial instruments measured at fair values | |||
Total Fair value | 86,340 | 75,916 | |
Equity Funds [Member] | |||
Schedule of Company's financial instruments measured at fair values | |||
Total Fair value | 491 | 499 | |
Residential Mortgage Backed Securities [Member] | |||
Schedule of Company's financial instruments measured at fair values | |||
Total Fair value | 11,544 | 12,472 | |
Collateralized Debt Obligations [Member] | |||
Schedule of Company's financial instruments measured at fair values | |||
Total Fair value | 4,277 | 4,486 | |
SBA-guaranteed loan participation certificates [Member] | |||
Schedule of Company's financial instruments measured at fair values | |||
Total Fair value | 9 | 10 | |
Nonrecurring [Member] | |||
Schedule of Company's financial instruments measured at fair values | |||
Total Fair value | 102,661 | 93,383 | |
Real Estate Acquired Through Foreclosure Fair Value | 916 | ||
Nonrecurring [Member] | Certificates of deposit [Member] | |||
Schedule of Company's financial instruments measured at fair values | |||
Total Fair value | 86,340 | 75,916 | |
Nonrecurring [Member] | Equity mutual fund [Member] | |||
Schedule of Company's financial instruments measured at fair values | |||
Total Fair value | 491 | 499 | |
Nonrecurring [Member] | Mortgage-backed securities - residential [Member] | |||
Schedule of Company's financial instruments measured at fair values | |||
Total Fair value | 11,544 | 12,472 | |
Nonrecurring [Member] | Collateralized mortgage obligations - residential [Member] | |||
Schedule of Company's financial instruments measured at fair values | |||
Total Fair value | 4,277 | 4,486 | |
Nonrecurring [Member] | SBA-guaranteed loan participation certificates [Member] | |||
Schedule of Company's financial instruments measured at fair values | |||
Total Fair value | 9 | 10 | |
Nonrecurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | |||
Schedule of Company's financial instruments measured at fair values | |||
Total Fair value | 491 | 499 | |
Real Estate Acquired Through Foreclosure Fair Value | 0 | ||
Nonrecurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Certificates of deposit [Member] | |||
Schedule of Company's financial instruments measured at fair values | |||
Total Fair value | 0 | 0 | |
Nonrecurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Mortgage-backed securities - residential [Member] | |||
Schedule of Company's financial instruments measured at fair values | |||
Total Fair value | 0 | 0 | |
Nonrecurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Collateralized mortgage obligations - residential [Member] | |||
Schedule of Company's financial instruments measured at fair values | |||
Total Fair value | 0 | 0 | |
Nonrecurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | SBA-guaranteed loan participation certificates [Member] | |||
Schedule of Company's financial instruments measured at fair values | |||
Total Fair value | 0 | 0 | |
Nonrecurring [Member] | Significant Observable Inputs (Level 2) [Member] | |||
Schedule of Company's financial instruments measured at fair values | |||
Total Fair value | 102,170 | 92,884 | |
Real Estate Acquired Through Foreclosure Fair Value | 0 | ||
Nonrecurring [Member] | Significant Observable Inputs (Level 2) [Member] | Equity mutual fund [Member] | |||
Schedule of Company's financial instruments measured at fair values | |||
Total Fair value | 0 | 0 | |
Nonrecurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | |||
Schedule of Company's financial instruments measured at fair values | |||
Total Fair value | 0 | 0 | |
Real Estate Acquired Through Foreclosure Fair Value | 409 | 916 | |
Nonrecurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Certificates of deposit [Member] | |||
Schedule of Company's financial instruments measured at fair values | |||
Total Fair value | 0 | 0 | |
Nonrecurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Equity mutual fund [Member] | |||
Schedule of Company's financial instruments measured at fair values | |||
Total Fair value | 0 | 0 | |
Nonrecurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Mortgage-backed securities - residential [Member] | |||
Schedule of Company's financial instruments measured at fair values | |||
Total Fair value | 0 | 0 | |
Nonrecurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Collateralized mortgage obligations - residential [Member] | |||
Schedule of Company's financial instruments measured at fair values | |||
Total Fair value | 0 | 0 | |
Nonrecurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | SBA-guaranteed loan participation certificates [Member] | |||
Schedule of Company's financial instruments measured at fair values | |||
Total Fair value | 0 | 0 | |
One to Four Family Residential Real Estate Loans [Member] | |||
Schedule of Company's financial instruments measured at fair values | |||
Real Estate Acquired Through Foreclosure Fair Value | 102 | ||
One to Four Family Residential Real Estate Loans [Member] | Nonrecurring [Member] | |||
Schedule of Company's financial instruments measured at fair values | |||
Real Estate Acquired Through Foreclosure Fair Value | 102 | ||
One to Four Family Residential Real Estate Loans [Member] | Nonrecurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | |||
Schedule of Company's financial instruments measured at fair values | |||
Real Estate Acquired Through Foreclosure Fair Value | 0 | ||
One to Four Family Residential Real Estate Loans [Member] | Nonrecurring [Member] | Significant Observable Inputs (Level 2) [Member] | |||
Schedule of Company's financial instruments measured at fair values | |||
Real Estate Acquired Through Foreclosure Fair Value | 0 | ||
Commercial Real Estate [Member] | Nonrecurring [Member] | |||
Schedule of Company's financial instruments measured at fair values | |||
Real Estate Acquired Through Foreclosure Fair Value | 409 | 814 | |
Commercial Real Estate [Member] | Nonrecurring [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | |||
Schedule of Company's financial instruments measured at fair values | |||
Real Estate Acquired Through Foreclosure Fair Value | 0 | 0 | |
Commercial Real Estate [Member] | Nonrecurring [Member] | Significant Observable Inputs (Level 2) [Member] | |||
Schedule of Company's financial instruments measured at fair values | |||
Real Estate Acquired Through Foreclosure Fair Value | 0 | 0 | |
Commercial Real Estate [Member] | Nonrecurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | |||
Schedule of Company's financial instruments measured at fair values | |||
Real Estate Acquired Through Foreclosure Fair Value | $ 409 | ||
Nonresidential Real Estate Loans [Member] | |||
Schedule of Company's financial instruments measured at fair values | |||
Real Estate Acquired Through Foreclosure Fair Value | $ 814 | ||
Sales Comparison Valuation Technique [Member] | Commercial Real Estate [Member] | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Fair Value Measurements, Valuation Processes, Description | Sales comparison | ||
Fair Value Measurements, Sensitivity Analysis, Description | Comparison between sales and income approaches |
Fair Value - Assets Measured at
Fair Value - Assets Measured at Fair Value on a Non-Recurring Basis (Details) - USD ($) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 | |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Other Real Estate | $ 494,000 | $ 1,200,000 | |
Real Estate Owned, Valuation Allowance, Component | 85,000 | 261,000 | |
Fair Value, Other real estate owned | 916,000 | ||
Other Real Estate Owned Write Downs | 25,000 | $ 20,000 | |
One-to-four family residential real estate loans [Member] | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Fair Value, Other real estate owned | 102,000 | ||
Nonresidential Real Estate Loans [Member] | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Fair Value, Other real estate owned | 814,000 | ||
Nonrecurring [Member] | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Fair Value, Other real estate owned | 916,000 | ||
Nonrecurring [Member] | One-to-four family residential real estate loans [Member] | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Fair Value, Other real estate owned | 102,000 | ||
Nonrecurring [Member] | Nonresidential real estate loans [Member] | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Fair Value, Other real estate owned | 409,000 | 814,000 | |
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, Other real estate owned | 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, 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, 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, Other real estate owned | 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, 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, 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, Other real estate owned | 409,000 | $ 916,000 | |
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, Other real estate owned | $ 409,000 | ||
Sales Comparison Valuation Technique [Member] | Nonresidential real estate loans [Member] | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Fair Value Measurements, Valuation Processes, Description | Sales comparison | ||
Fair Value Measurements, Sensitivity Analysis, Description | Comparison between sales and income approaches | ||
Maximum [Member] | Real Estate [Domain] | Sales Comparison Valuation Technique [Member] | One-to-four family residential real estate loans [Member] | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Fair Value Inputs, Discount Rate | 20.04% | ||
Maximum [Member] | Real Estate [Domain] | Sales Comparison Valuation Technique [Member] | Nonresidential Real Estate [Member] | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Fair Value Inputs, Comparability Adjustments | 4.58% | ||
Maximum [Member] | Real Estate [Domain] | Sales Comparison Valuation Technique [Member] | Nonresidential real estate loans [Member] | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Fair Value Inputs, Comparability Adjustments | 31.60% | ||
Minimum [Member] | Real Estate [Domain] | Sales Comparison Valuation Technique [Member] | One-to-four family residential real estate loans [Member] | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Fair Value Inputs, Discount Rate | 8.62% | ||
Minimum [Member] | Real Estate [Domain] | Sales Comparison Valuation Technique [Member] | Nonresidential Real Estate [Member] | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Fair Value Inputs, Comparability Adjustments | (3.22%) | ||
Minimum [Member] | Real Estate [Domain] | Sales Comparison Valuation Technique [Member] | Nonresidential real estate loans [Member] | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Fair Value Inputs, Comparability Adjustments | 5.74% | ||
Weighted Average [Member] | impaired loans [Member] | Sales Comparison Valuation Technique [Member] | Nonresidential real estate loans [Member] | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Fair Value Inputs, Comparability Adjustments | 3.60% | (10.20%) | |
Weighted Average [Member] | Real Estate [Domain] | Sales Comparison Valuation Technique [Member] | One-to-four family residential real estate loans [Member] | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Fair Value Inputs, Discount Rate | 11.90% | ||
Weighted Average [Member] | Real Estate [Domain] | Sales Comparison Valuation Technique [Member] | Nonresidential Real Estate [Member] | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Fair Value Inputs, Comparability Adjustments | 3.77% | ||
Weighted Average [Member] | Real Estate [Domain] | Sales Comparison Valuation Technique [Member] | Nonresidential real estate loans [Member] | |||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | |||
Fair Value Inputs, Comparability Adjustments | 25.20% |
Fair Value - Carrying Amount an
Fair Value - Carrying Amount and Estimated Fair Value of Finanical Instruments (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 | Mar. 31, 2017 | Dec. 31, 2016 |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||||
Cash and Cash Equivalents, at Carrying Value | $ 92,576 | $ 127,592 | $ 75,466 | $ 96,684 |
Financial assets | ||||
Securities, carrying amount | 102,170 | 93,383 | ||
Loans receivable, net of allowance for loan losses, carrying amounts | 1,277,553 | 1,314,651 | ||
FHLBC stock, carrying amount | 8,290 | 8,290 | ||
Accrued interest receivable, carrying amount | 4,900 | 4,619 | ||
Estimate of Fair Value, Fair Value Disclosure [Member] | ||||
Financial assets | ||||
Available-for-sale Securities, Fair Value Disclosure | 102,661 | 93,383 | ||
Loans Receivable, Fair Value Disclosure | 1,276,635 | 1,323,139 | ||
Accounts Receivable, Fair Value Disclosure | 4,900 | 4,619 | ||
Financial liabilities | ||||
Cash and Cash Equivalents, Fair Value Disclosure | 92,576 | 127,592 | ||
Demand Deposit Accounts Fair Value Disclosure | 232,593 | 234,354 | ||
Deposits Savings Deposits Fair Value Disclosure | 160,093 | 160,501 | ||
Now Money Market Accounts | 589,238 | |||
Now Money Market Accounts Fair Value Disclosure | 573,886 | |||
Certificates Of Deposit Fair Value Disclosure | 308,904 | 353,969 | ||
Short Term Borrowings Fair Value Disclosure | 60,832 | 60,627 | ||
Accrued Liabilities, Fair Value Disclosure | 180 | 147 | ||
Estimate of Fair Value, Fair Value Disclosure [Member] | Level 1 [Member] | ||||
Financial assets | ||||
Loans Receivable, Fair Value Disclosure | 0 | |||
Accounts Receivable, Fair Value Disclosure | 0 | |||
Financial liabilities | ||||
Cash and Cash Equivalents, Fair Value Disclosure | 10,613 | 13,572 | ||
Demand Deposit Accounts Fair Value Disclosure | 0 | |||
Deposits Savings Deposits Fair Value Disclosure | 0 | |||
Certificates Of Deposit Fair Value Disclosure | 0 | |||
Short Term Borrowings Fair Value Disclosure | 0 | |||
Accrued Liabilities, Fair Value Disclosure | 0 | |||
Estimate of Fair Value, Fair Value Disclosure [Member] | Level 2 [Member] | ||||
Financial assets | ||||
Available-for-sale Securities, Fair Value Disclosure | 102,170 | 92,884 | ||
Loans Receivable, Fair Value Disclosure | 1,276,635 | 1,323,139 | ||
Accounts Receivable, Fair Value Disclosure | 4,900 | 4,619 | ||
Financial liabilities | ||||
Cash and Cash Equivalents, Fair Value Disclosure | 81,963 | 114,020 | ||
Demand Deposit Accounts Fair Value Disclosure | 232,593 | 234,354 | ||
Deposits Savings Deposits Fair Value Disclosure | 160,093 | 160,501 | ||
Now Money Market Accounts | 589,238 | |||
Now Money Market Accounts Fair Value Disclosure | 573,886 | |||
Certificates of Deposit, at Carrying Value | 308,904 | |||
Certificates Of Deposit Fair Value Disclosure | 353,969 | |||
Short-term Debt | 60,832 | 60,627 | ||
Accrued Liabilities, Fair Value Disclosure | 180 | 147 | ||
Estimate of Fair Value, Fair Value Disclosure [Member] | Fair Value, Inputs, Level 3 [Member] | ||||
Financial assets | ||||
Loans Receivable, Fair Value Disclosure | 0 | |||
Reported Value Measurement [Member] | ||||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||||
Cash and Cash Equivalents, at Carrying Value | 92,576 | 127,592 | ||
Financial assets | ||||
Securities, carrying amount | 102,661 | 93,383 | ||
Loans receivable, net of allowance for loan losses, carrying amounts | 1,277,553 | 1,314,651 | ||
FHLBC stock, carrying amount | 8,290 | 8,290 | ||
Accrued interest receivable, carrying amount | 4,900 | 4,619 | ||
Financial liabilities | ||||
Demand Deposit Accounts | 232,593 | 234,354 | ||
Deposits, Savings Deposits | 160,093 | 160,501 | ||
Now Money Market Accounts | 589,238 | |||
Now Money Market Accounts Fair Value Disclosure | 573,886 | |||
Certificates of Deposit, at Carrying Value | 311,435 | 355,958 | ||
Short-term Debt | 60,983 | 60,768 | ||
Accrued Interest Payable | 180 | 147 | ||
Equity Funds [Member] | ||||
Financial assets | ||||
Securities, carrying amount | $ 491 | $ 499 |
Revenue From Contracts With C53
Revenue From Contracts With Customers (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Revenue Recognition [Abstract] | ||
Deposit service charges and fees | $ 978 | $ 950 |
Loan fee income | 70 | 60 |
Commercial mortgage brokerage fees | 41 | 0 |
Residential mortgage banking fees | 30 | 44 |
Trust and insurance commissions and annuities income | 213 | 249 |
Earnings on bank owned life insurance | 66 | 63 |
Other | 141 | 178 |
Total noninterest income | 1,539 | 1,544 |
Interchange income | $ 361 | $ 350 |
Subsequent Events (Details)
Subsequent Events (Details) - USD ($) $ in Thousands | Apr. 23, 2018 | Jun. 30, 2018 | Apr. 01, 2018 | Mar. 31, 2018 | Dec. 31, 2017 |
Subsequent Event [Line Items] | |||||
Bank owned life insurance | $ 22,925 | $ 22,859 | |||
Scenario, Forecast [Member] | 15W060 North Frontage Road, Burr Ridge, Illinois [Member] | |||||
Subsequent Event [Line Items] | |||||
Gain (loss) on disposition of real estate | $ 100 | ||||
Subsequent Event [Member] | |||||
Subsequent Event [Line Items] | |||||
Bank owned life insurance | $ 1,400 | ||||
Subsequent Event [Member] | 15W060 North Frontage Road, Burr Ridge, Illinois [Member] | |||||
Subsequent Event [Line Items] | |||||
Sales price | $ 6,000 |