Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2020 | Jul. 27, 2020 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0001303942 | |
Entity Registrant Name | BankFinancial CORP | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2020 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Jun. 30, 2020 | |
Document Transition Report | false | |
Entity File Number | 0-51331 | |
Entity Incorporation, State or Country Code | MD | |
Entity Tax Identification Number | 75-3199276 | |
Entity Address, Address Line One | 60 North Frontage Road | |
Entity Address, City or Town | Burr Ridge | |
Entity Address, State or Province | IL | |
Entity Address, Postal Zip Code | 60527 | |
City Area Code | 800 | |
Local Phone Number | 894-6900 | |
Title of 12(b) Security | Common Stock, par value $0.01 per share | |
Trading Symbol | BFIN | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 14,847,128 |
Consolidated Statements of Fina
Consolidated Statements of Financial Condition (Current Period Unaudited) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Assets | ||
Cash and due from other financial institutions | $ 13,826 | $ 9,785 |
Interest-bearing deposits in other financial institutions | 370,939 | 180,540 |
Cash and cash equivalents | 384,765 | 190,325 |
Securities, at fair value | 59,437 | 60,193 |
Loans receivable, net of allowance for loan losses: June 30, 2020, $8,156 and December 31, 2019, $7,632 | 1,081,798 | 1,168,008 |
Other real estate owned, net | 143 | 186 |
Stock in Federal Home Loan Bank ("FHLB") and Federal Reserve Bank ("FRB"), at cost | 7,490 | 7,490 |
Premises and equipment, net | 24,323 | 24,346 |
Accrued interest receivable | 4,447 | 4,563 |
Bank-owned life insurance | 18,986 | 18,945 |
Deferred taxes | 3,615 | 3,873 |
Other assets | 8,125 | 10,086 |
Total assets | 1,593,129 | 1,488,015 |
Liabilities | ||
Noninterest-bearing | 305,096 | 210,762 |
Interest-bearing | 1,083,059 | 1,073,995 |
Total deposits | 1,388,155 | 1,284,757 |
Borrowings | 4,000 | 61 |
Advance payments by borrowers for taxes and insurance | 12,356 | 10,222 |
Accrued interest payable and other liabilities | 16,164 | 18,603 |
Total liabilities | 1,420,675 | 1,313,643 |
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; 14,890,628 shares issued at June 30, 2020 and 15,278,464 issued at December 31, 2019 | 149 | 153 |
Additional paid-in capital | 108,748 | 112,420 |
Retained earnings | 63,322 | 61,573 |
Accumulated other comprehensive income | 235 | 226 |
Total stockholders’ equity | 172,454 | 174,372 |
Total liabilities and stockholders’ equity | $ 1,593,129 | $ 1,488,015 |
Consolidated Statements of Fi_2
Consolidated Statements of Financial Condition (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Allowance for loan losses | $ 8,156 | $ 7,632 |
Preferred Stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Preferred Stock, shares authorized (in shares) | 25,000,000 | 25,000,000 |
Preferred Stock, shares issued (in shares) | 0 | 0 |
Preferred Stock, shares outstanding (in shares) | 0 | 0 |
Common Stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common Stock, shares authorized (in shares) | 100,000,000 | 100,000,000 |
Common Stock, shares issued (in shares) | 14,890,628 | 15,278,464 |
Consolidated Statements of Oper
Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | ||
Interest and dividend income | |||||
Loans, including fees | $ 12,669 | $ 15,389 | $ 26,280 | $ 30,741 | |
Securities | 271 | 602 | 575 | 1,204 | |
Other | 254 | 531 | 992 | 1,103 | |
Total interest income | 13,194 | 16,522 | 27,847 | 33,048 | |
Interest expense | |||||
Deposits | 1,869 | 3,417 | 4,553 | 6,638 | |
Borrowings | 0 | 2 | 0 | 88 | |
Total interest expense | 1,869 | 3,419 | 4,553 | 6,726 | |
Net interest income | 11,325 | 13,103 | 23,294 | 26,322 | |
Provision for loan losses | 42 | 3,957 | 513 | 3,870 | |
Net interest income after provision for loan losses | 11,283 | 9,146 | 22,781 | 22,452 | |
Noninterest income | |||||
Deposit service charges and fees | 736 | 974 | 1,623 | 1,904 | |
Loan servicing fees | [1] | 82 | 56 | 145 | 79 |
Mortgage brokerage and banking fees | [1] | 11 | 21 | 40 | 49 |
Gain on sale of equity securities | [1] | 0 | 0 | 0 | 295 |
Loss on disposal of other assets | 0 | 0 | (2) | (19) | |
Trust and insurance commissions and annuities income | 224 | 224 | 506 | 429 | |
Earnings on bank-owned life insurance | [1] | 9 | 38 | 41 | 68 |
Other | [1] | 101 | 113 | 208 | 245 |
Total noninterest income | 1,163 | 1,426 | 2,561 | 3,050 | |
Noninterest expense | |||||
Compensation and benefits | 5,168 | 5,207 | 10,686 | 10,910 | |
Office occupancy and equipment | 1,723 | 1,624 | 3,523 | 3,469 | |
Advertising and public relations | 118 | 145 | 270 | 306 | |
Information technology | 808 | 753 | 1,672 | 1,459 | |
Professional fees | 289 | 237 | 524 | 544 | |
Supplies, telephone, and postage | 284 | 322 | 587 | 725 | |
Amortization of intangibles | 7 | 14 | 21 | 34 | |
Nonperforming asset management | 57 | 58 | 97 | 112 | |
Operations of other real estate owned, net | 7 | 47 | (10) | 3 | |
FDIC insurance premiums | 102 | 146 | 136 | 254 | |
Other | 686 | 919 | 1,371 | 1,754 | |
Total noninterest expense | 9,249 | 9,472 | 18,877 | 19,570 | |
Income before income taxes | 3,197 | 1,100 | 6,465 | 5,932 | |
Income tax expense | 845 | 293 | 1,695 | 1,574 | |
Net income | $ 2,352 | $ 807 | $ 4,770 | $ 4,358 | |
Basic and diluted earnings per common share (in dollars per share) | $ 0.16 | $ 0.05 | $ 0.32 | $ 0.28 | |
Basic and diluted weighted average common shares outstanding (in shares) | 14,978,757 | 15,472,618 | 15,092,244 | 15,835,445 | |
[1] | Not within the scope of ASC 606 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Net income | $ 2,352 | $ 807 | $ 4,770 | $ 4,358 |
Unrealized holding gain arising during the period | 108 | 19 | 11 | 25 |
Tax effect | (28) | (6) | (2) | (7) |
Net of tax | 80 | 13 | 9 | 18 |
Comprehensive income | $ 2,432 | $ 820 | $ 4,779 | $ 4,376 |
Consolidated Statements of Chan
Consolidated Statements of Changes In Stockholders' Equity (Unaudited) - USD ($) $ in Thousands | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
Balance at Dec. 31, 2018 | $ 165 | $ 130,547 | $ 56,167 | $ 271 | $ 187,150 |
Net income | 0 | 0 | 4,358 | 0 | 4,358 |
Other comprehensive income (loss), net of tax | 0 | 0 | 0 | 18 | 18 |
Repurchase and retirement of common stock | (11) | (16,830) | 0 | 0 | (16,841) |
Cash dividends declared on common stock | 0 | 0 | (3,194) | 0 | (3,194) |
Balance at Jun. 30, 2019 | 154 | 113,717 | 57,331 | 289 | 171,491 |
Balance at Mar. 31, 2019 | 157 | 117,715 | 58,072 | 276 | 176,220 |
Net income | 0 | 0 | 807 | 0 | 807 |
Other comprehensive income (loss), net of tax | 0 | 0 | 0 | 13 | 13 |
Repurchase and retirement of common stock | (3) | (3,998) | 0 | 0 | (4,001) |
Cash dividends declared on common stock | 0 | 0 | (1,548) | 0 | (1,548) |
Balance at Jun. 30, 2019 | 154 | 113,717 | 57,331 | 289 | 171,491 |
Balance at Dec. 31, 2019 | 153 | 112,420 | 61,573 | 226 | 174,372 |
Net income | 0 | 0 | 4,770 | 0 | 4,770 |
Other comprehensive income (loss), net of tax | 0 | 0 | 0 | 9 | 9 |
Repurchase and retirement of common stock | (4) | (3,672) | 0 | 0 | (3,676) |
Cash dividends declared on common stock | 0 | 0 | (3,021) | 0 | (3,021) |
Balance at Jun. 30, 2020 | 149 | 108,748 | 63,322 | 235 | 172,454 |
Balance at Mar. 31, 2020 | 151 | 110,220 | 62,469 | 155 | 172,995 |
Net income | 0 | 0 | 2,352 | 0 | 2,352 |
Other comprehensive income (loss), net of tax | 0 | 0 | 0 | 80 | 80 |
Repurchase and retirement of common stock | (2) | (1,472) | 0 | 0 | (1,474) |
Cash dividends declared on common stock | 0 | 0 | (1,499) | 0 | (1,499) |
Balance at Jun. 30, 2020 | $ 149 | $ 108,748 | $ 63,322 | $ 235 | $ 172,454 |
Consolidated Statements of Ch_2
Consolidated Statements of Changes In Stockholders' Equity (Unaudited) (Parentheticals) - $ / shares shares in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Repurchase and retirement of common stock (in shares) | 181,640 | 270,535 | 387,836 | 1,107,550 |
Cash dividends declared on common stock (in dollars per share) | $ 0.10 | $ 0.10 | $ 0.20 | $ 0.20 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | ||
Cash flows from operating activities | |||
Net income | $ 4,770 | $ 4,358 | |
Adjustments to reconcile to net income to net cash from operating activities | |||
Provision for loan losses | 513 | 3,870 | |
Depreciation | 816 | 794 | |
Amortization of premiums and discounts on securities | 3 | 3 | |
Amortization of intangibles | 21 | 34 | |
Amortization of servicing assets | 37 | 43 | |
Net change in net deferred loan origination costs | 454 | 91 | |
Gain on sale of other real estate owned | (30) | (91) | |
Gain on sale of equity securities | 0 | (295) | |
Loss on disposal of other assets | 2 | 19 | |
Other real estate owned valuation adjustments | 0 | 21 | |
Earnings on bank-owned life insurance | [1] | (41) | (68) |
Net change in: | |||
Accrued interest receivable | 116 | (465) | |
Other assets | 2,316 | 1,580 | |
Accrued interest payable and other liabilities | (2,539) | (2,905) | |
Net cash from operating activities | 6,438 | 6,989 | |
Cash flows from investing activities | |||
Proceeds from maturities | 35,318 | 51,006 | |
Proceeds from principal repayments | 1,386 | 1,138 | |
Proceeds from sale of equity securities | 0 | 3,722 | |
Purchases of securities | (35,940) | (51,023) | |
Net decrease in loans receivable | 85,164 | 52,289 | |
Purchase of FHLB and FRB stock | 0 | (4) | |
Redemption of FHLB and FRB stock | 0 | 540 | |
Proceeds from sale of other real estate owned | 95 | 845 | |
Purchase of premises and equipment, net | (795) | (531) | |
Net cash from investing activities | 85,228 | 57,982 | |
Cash flows from financing activities | |||
Deposits | 103,398 | (22,277) | |
Borrowings | 3,939 | (20,251) | |
Advance payments by borrowers for taxes and insurance | 2,134 | 2,995 | |
Repurchase and retirement of common stock | (3,676) | (16,841) | |
Cash dividends paid on common stock | (3,021) | (3,194) | |
Net cash from (used in) financing activities | 102,774 | (59,568) | |
Net change in cash and cash equivalents | 194,440 | 5,403 | |
Beginning cash and cash equivalents | 190,325 | 98,204 | |
Ending cash and cash equivalents | 384,765 | 103,607 | |
Supplemental disclosures of cash flow information: | |||
Interest paid | 4,564 | 6,863 | |
Income taxes paid | 226 | 400 | |
Income taxes refunded | 8 | 0 | |
Loans transferred to other real estate owned | 33 | 46 | |
Recording of right of use asset in exchange for lease obligations in other assets and other liabilities | $ 111 | $ 6,694 | |
[1] | Not within the scope of ASC 606 |
Note 1 - Summary of Significant
Note 1 - Summary of Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | NOTE 1 Basis of Presentation three six June 30, 2020 not may December 31, 2020 Certain information and note disclosures normally included in financial statements prepared in conformity with accounting principles generally accepted in the United States of America (“US GAAP”) have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Use of Estimates COVID- 19 10 March 11, 2020, 19” 19 March 3, 2020, 50 1.00% 1.25%. 0% 0.25% March 16, 2020. 19 may 19 Reclassifications These unaudited consolidated financial statements should be read in conjunction with the Company’s Annual Report on Form 10 December 31, 2019 Newly Issued Not In June 2016, No. 2016 13, 326 2016 13” 2016 13 December 15, 2022. |
Note 2 - Earnings Per Share
Note 2 - Earnings Per Share | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | NOTE 2 Amounts reported in earnings 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. Three Months Ended Six Months Ended June 30, June 30, 2020 2019 2020 2019 Net income available to common stockholders $ 2,352 $ 807 $ 4,770 $ 4,358 Basic and diluted weighted average common shares outstanding 14,978,757 15,472,618 15,092,244 15,835,445 Basic and diluted earnings per common share $ 0.16 $ 0.05 $ 0.32 $ 0.28 |
Note 3 - Securities
Note 3 - Securities | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | NOTE 3 The fair value of securities and the related gross unrealized gains and losses recognized in accumulated other comprehensive income is as follows: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Available-for-Sale Securities June 30, 2020 Certificates of deposit $ 49,288 $ — $ — $ 49,288 Municipal securities 504 10 — 514 Mortgage-backed securities - residential 6,668 315 — 6,983 Collateralized mortgage obligations - residential 2,657 3 (8 ) 2,652 $ 59,117 $ 328 $ (8 ) $ 59,437 December 31, 2019 Certificates of deposit $ 48,666 $ — $ — $ 48,666 Municipal securities 505 8 — 513 Mortgage-backed securities - residential 7,727 310 — 8,037 Collateralized mortgage obligations - residential 2,986 4 (13 ) 2,977 $ 59,884 $ 322 $ (13 ) $ 60,193 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. The amortized cost and fair values of securities by contractual maturity are shown below. Securities not may may June 30, 2020 Amortized Cost Fair Value Due in one year or less $ 49,388 $ 49,389 Due after one year through five years 404 413 49,792 49,802 Mortgage-backed securities - residential 6,668 6,983 Collateralized mortgage obligations - residential 2,657 2,652 $ 59,117 $ 59,437 Investment securities available-for-sale with carrying values of $1.3 million and $2.0 million at June 30, 2020 December 31, 2019 Sales of equity securities were as follows: Three Months Ended Six Months Ended June 30, June 30, 2020 2019 2020 2019 Proceeds $ — $ — $ — $ 3,722 Gross gains — — — 295 Gross losses — — — — Securities with unrealized losses not Less than 12 Months 12 Months or More Total Count Fair Value Unrealized Loss Count Fair Value Unrealized Loss Count Fair Value Unrealized Loss June 30, 2020 Collateralized mortgage obligations - residential — $ — $ — 3 $ 1,853 $ (8 ) 3 $ 1,853 $ (8 ) December 31, 2019 Collateralized mortgage obligations - residential 3 $ 1,566 $ (10 ) 1 $ 937 $ (3 ) 4 $ 2,503 $ (13 ) 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 collateralized mortgage obligations that the Company holds in its investment portfolio were in an unrealized loss position at June 30, 2020 not not not The Bank, as a member of Visa USA, received 51,404 unrestricted shares of Visa, Inc. Class B common stock in connection with Visa, Inc.’s initial public offering in 2007 not The Bank sold 25,702 shares of Visa Class B common stock in the fourth 2018 first 2019 |
Note 4 - Loans Receivable
Note 4 - Loans Receivable | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | NOTE 4 Loans receivable are as follows: June 30, 2020 December 31, 2019 One-to-four family residential real estate $ 48,928 $ 55,750 Multi-family mortgage 536,619 563,750 Nonresidential real estate 127,560 134,674 Commercial loans 126,609 145,714 Commercial leases 247,997 272,629 Consumer 1,783 2,211 1,089,496 1,174,728 Net deferred loan origination costs 458 912 Allowance for loan losses (8,156 ) (7,632 ) Loans, net $ 1,081,798 $ 1,168,008 The following tables present the balance in the allowance for loan losses and 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 June 30, 2020 One-to-four family residential real estate $ — $ 665 $ 665 $ 1,768 $ 47,160 $ 48,928 Multi-family mortgage — 4,185 4,185 604 536,015 536,619 Nonresidential real estate — 1,602 1,602 288 127,272 127,560 Commercial loans — 856 856 — 126,609 126,609 Commercial leases — 802 802 833 247,164 247,997 Consumer — 46 46 — 1,783 1,783 $ — $ 8,156 $ 8,156 $ 3,493 $ 1,086,003 1,089,496 Net deferred loan origination costs 458 Allowance for loan losses (8,156 ) Loans, net $ 1,081,798 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, 2019 One-to-four family residential real estate $ — $ 675 $ 675 $ 1,835 $ 53,915 $ 55,750 Multi-family mortgage — 3,676 3,676 620 563,130 563,750 Nonresidential real estate — 1,176 1,176 288 134,386 134,674 Commercial loans — 1,308 1,308 — 145,714 145,714 Commercial leases — 757 757 — 272,629 272,629 Consumer — 40 40 — 2,211 2,211 $ — $ 7,632 $ 7,632 $ 2,743 $ 1,171,985 1,174,728 Net deferred loan origination costs 912 Allowance for loan losses (7,632 ) Loans, net $ 1,168,008 The following table represents the activity in the allowance for loan losses by portfolio segment: One-to-four family residential real estate Multi-family mortgage Non-residential real estate Construction and land Commercial loans Commercial leases Consumer Total For the three months ended June 30, 2020 Allowance for loan losses: Beginning balance $ 682 $ 3,869 $ 1,460 $ — $ 1,275 $ 780 $ 46 $ 8,112 Provision for (recovery of) loan losses (20 ) 301 142 — (420 ) 22 17 42 Loans charged off — — — — — — (17 ) (17 ) Recoveries 3 15 — — 1 — — 19 Total ending allowance balance $ 665 $ 4,185 $ 1,602 $ — $ 856 $ 802 $ 46 $ 8,156 June 30, 2019 Allowance for loan losses: Beginning balance $ 649 $ 4,079 $ 1,487 $ 3 $ 1,422 $ 690 $ 24 $ 8,354 Provision for (recovery of) loan losses (42 ) (99 ) (292 ) — 4,313 60 17 3,957 Loans charged off (50 ) — — — (4,443 ) — (10 ) (4,503 ) Recoveries 6 8 — — 2 — — 16 Total ending allowance balance $ 563 $ 3,988 $ 1,195 $ 3 $ 1,294 $ 750 $ 31 $ 7,824 For the six months ended June 30, 2020 Allowance for loan losses: Beginning balance $ 675 $ 3,676 $ 1,176 $ — $ 1,308 $ 757 $ 40 $ 7,632 Provision for (recovery of) loan losses (21 ) 482 426 — (455 ) 45 36 513 Loans charged off (5 ) — — — — — (30 ) (35 ) Recoveries 16 27 — — 3 — — 46 Total ending allowance balance $ 665 $ 4,185 $ 1,602 $ — $ 856 $ 802 $ 46 $ 8,156 June 30, 2019 Allowance for loan losses: Beginning balance $ 699 $ 3,991 $ 1,476 $ 4 $ 1,517 $ 755 $ 28 $ 8,470 Provision for (recovery of) loan losses (86 ) (19 ) (253 ) (1 ) 4,216 (5 ) 18 3,870 Loans charged off (73 ) — (28 ) — (4,443 ) — (15 ) (4,559 ) Recoveries 23 16 — — 4 — — 43 Total ending allowance balance $ 563 $ 3,988 $ 1,195 $ 3 $ 1,294 $ 750 $ 31 $ 7,824 Impaired loans The following tables present loans individually evaluated for impairment by class of loans: Three Months Ended Six Months Ended June 30, 2020 June 30, 2020 Loan Balance Recorded Investment Partial Charge off Allowance for Loan Losses Allocated Average Investment in Impaired Loans Interest Income Recognized Average Investment in Impaired Loans Interest Income Recognized June 30, 2020 With no related allowance recorded: One-to-four family residential real estate $ 2,113 $ 1,768 $ 353 $ — $ 1,789 $ 11 $ 1,816 $ 24 Multi-family mortgage - Illinois 604 604 — — 609 9 612 18 Nonresidential real estate 280 288 — — 288 — 288 — Other commercial leases 843 833 — — 350 — 216 2 $ 3,840 $ 3,493 $ 353 $ — $ 3,036 $ 20 $ 2,932 $ 44 Year ended December 31, 2019 Loan Balance Recorded Investment Partial Charge-off Allowance for Loan Losses Allocated Average Investment in Impaired Loans Interest Income Recognized December 31, 2019 With no related allowance recorded: One-to-four family residential real estate $ 2,168 $ 1,835 $ 339 $ — $ 2,208 $ 51 Multi-family mortgage - Illinois 620 620 — — 637 37 Nonresidential real estate 280 288 — — 589 2 $ 3,068 $ 2,743 $ 339 $ — $ 3,434 $ 90 Nonaccrual Loans The following tables present the recorded investment in nonaccrual and loans 90 Loan Balance Recorded Investment Loans Past Due Over 90 Days, Still Accruing June 30, 2020 One-to-four family residential real estate $ 686 $ 662 $ — Nonresidential real estate 280 288 — Other commercial leases 843 833 — $ 1,809 $ 1,783 $ — December 31, 2019 One-to-four family residential real estate $ 598 $ 512 $ — Nonresidential real estate 280 288 — Investment-rated commercial leases 47 — 47 $ 925 $ 800 $ 47 Nonaccrual loans and impaired loans are defined differently. Some loans may may one The Company’s reserve for uncollected loan interest was $123,000 and $81,000 at June 30, 2020 December 31, 2019 310–10, 310–10, Past Due Loans The following tables present the aging of the recorded investment of loans 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 June 30, 2020 One-to-four family residential real estate loans: Owner occupied $ — $ 21 $ 658 $ 679 $ 38,931 $ 39,610 Non-owner occupied 3 187 — $ 190 9,128 9,318 Multi-family mortgage: Illinois — — — — 230,913 230,913 Other — — — — 305,706 305,706 Nonresidential real estate — — 288 288 127,272 127,560 Commercial loans: Regional commercial banking — — — — 32,388 32,388 Health care — — — — 12,554 12,554 Direct commercial lessor — — — — 81,667 81,667 Commercial leases: Investment-rated commercial leases — 509 — 509 114,123 114,632 Other commercial leases 1,936 136 833 2,905 130,460 133,365 Consumer 6 1 — 7 1,776 1,783 $ 1,945 $ 854 $ 1,779 $ 4,578 $ 1,084,918 $ 1,089,496 30-59 Days Past Due 60-89 Days Past Due 90 Days or Greater Past Due Total Past Due Loans Not Past Due Total December 31, 2019 One-to-four family residential real estate loans: Owner occupied $ 777 $ 340 $ 507 $ 1,624 $ 43,365 $ 44,989 Non-owner occupied 280 15 — 295 10,466 10,761 Multi-family mortgage: Illinois 981 302 — 1,283 246,680 247,963 Other — — — — 315,787 315,787 Nonresidential real estate — — 288 288 134,386 134,674 Commercial loans: Regional commercial banking — — — — 24,853 24,853 Health care — — — — 70,430 70,430 Direct commercial lessor — — — — 50,431 50,431 Commercial leases: Investment-rated commercial leases 826 — 47 873 132,966 133,839 Other commercial leases 543 136 — 679 138,111 138,790 Consumer 24 37 — 61 2,150 2,211 $ 3,431 $ 830 $ 842 $ 5,103 $ 1,169,625 $ 1,174,728 U.S. Small Business Administration Paycheck Protection Program ("PPP") In response to the COVID- 19 March 27, 2020. first 2020, 100% The following table presents the PPP activity: Number of loans Originated Balance For the Six Months Ended June 30, 2020 Paycheck protection program loan originations 305 $ 11,024 June 30, 2020 Paycheck protection program loans 300 $ 10,907 COVID- 19 Section 4013 2020 50” not 19. Our Apartment and Commercial Real Estate COVID- 19 4013 four April 2020, December 2020. Our Small Investment Property COVID- 19 $750,000 4013 four April 2020, December 2020. May 2020 December 2020 June 30, 2021. 4013 2020 35 4013 2020 35 The following table summarizes the loan forbearance modifications at June 30, 2020 Number of loans Principal Balance Principal Amount Deferred Small Investment Property COVID-19 Forbearance Agreement Multi-family mortgage 23 $ 7,143 $ 45 Nonresidential real estate 18 7,183 89 Qualified Limited Forbearance Program Multi-family mortgage 66 50,959 244 Nonresidential real estate 34 42,968 373 Commercial leases 18 5,853 579 One-to-four family residential real estate 10 1,312 8 169 $ 115,418 $ 1,338 Troubled Debt Restructurings The Company evaluates loan extensions or modifications not 4013 2020 35 340 10 Under ASC 340 10, The Company had no TDRs at June 30, 2020 December 31, 2019 six June 30, 2020 2019 three six June 30, 2020 2019 no twelve A loan is considered to be in payment default once it is 90 To determine whether a borrower is experiencing financial difficulty, an evaluation is performed of the probability that the borrower will be in payment default on any of its debt in the foreseeable future without the modification. This evaluation is performed under the Company’s internal underwriting policy. Credit Quality Indicators The Company categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt, including current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. The Company analyzes loans individually by classifying the loans based on credit risk. This analysis includes non-homogeneous loans, such as commercial and commercial real estate loans. This analysis is performed on a monthly basis. The Company uses the following definitions for risk ratings: Special Mention. may not not Substandard. may not not Nonaccrual. one Loans not 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 June 30, 2020 One-to-four family residential real estate loans: Owner occupied $ 38,402 $ 79 $ 467 $ 662 $ 39,610 Non-owner occupied 9,255 29 34 — 9,318 Multi-family mortgage: Illinois 230,913 — — — 230,913 Other 305,706 — — — 305,706 Nonresidential real estate 124,322 160 2,790 288 127,560 Commercial loans: Regional commercial banking 32,388 — — — 32,388 Health care 12,117 437 — — 12,554 Direct commercial lessor 81,667 — — — 81,667 Commercial leases: Investment-rated commercial leases 114,632 — — — 114,632 Other commercial leases 131,271 — 1,261 833 133,365 Consumer 1,770 2 11 — 1,783 $ 1,082,443 $ 707 $ 4,563 $ 1,783 $ 1,089,496 Pass Special Mention Substandard Nonaccrual Total December 31, 2019 One-to-four family residential real estate loans: Owner occupied $ 43,908 $ 36 $ 533 $ 512 $ 44,989 Non-owner occupied 10,696 30 35 — 10,761 Multi-family mortgage: Illinois 247,757 — 206 — 247,963 Other 315,787 — — — 315,787 Nonresidential real estate 134,134 162 90 288 134,674 Commercial loans: Regional commercial banking 24,853 — — — 24,853 Health care 62,084 8,346 — — 70,430 Direct commercial lessor 50,431 — — — 50,431 Commercial leases: Investment-rated commercial leases 133,332 507 — — 133,839 Other commercial leases 137,893 761 136 — 138,790 Consumer 2,153 5 53 — 2,211 $ 1,163,028 $ 9,847 $ 1,053 $ 800 $ 1,174,728 |
Note 5 - Other Real Estate Owne
Note 5 - Other Real Estate Owned | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Real Estate Owned [Text Block] | NOTE 5 Real 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. June 30, 2020 December 31, 2019 Balance Valuation Allowance Net OREO Balance Balance Valuation Allowance Net OREO Balance One–to–four family residential $ 143 $ - $ 143 $ 186 $ — $ 186 The following represents the roll forward of OREO and the composition of OREO properties: For the Three Months Ended For the Six Months Ended June 30, June 30, 2020 2019 2020 2019 Beginning balance $ 110 $ 921 $ 186 $ 1,226 New foreclosed properties 33 — 33 46 Valuation adjustments — (21 ) — (21 ) Sales and other reductions — (403 ) (76 ) (754 ) Ending balance $ 143 $ 497 $ 143 $ 497 Activity in the valuation allowance is as follows: For the Three Months Ended For the Six Months Ended June 30, June 30, 2020 2019 2020 2019 Beginning balance $ — $ — $ — $ 23 Additions charged to expense — 21 — 21 Reductions from sales of OREO — — — (23 ) Ending balance $ — $ 21 $ — $ 21 At June 30, 2020 December 31, 2019 June 30, 2020 December 31, 2019 |
Note 6 - Leases
Note 6 - Leases | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | NOTE 6 The Company enters into operating leases in the normal course of business primarily for several of its branch and corporate locations. Leases (Topic 842 12 four three 2032. not not not 12 The following table represents the classification of the Company's right of use and lease liabilities: Statement of Financial Condition Location June 30, 2020 December 31, 2019 Operating Lease Right of Use Asset: Gross carrying amount $ 6,694 $ — New lease obligation 111 6,694 Accumulated amortization (1,288 ) (848 ) Net carrying value Other assets $ 5,517 $ 5,846 Operating Lease Liabilities: Right of use lease obligations Other liabilities $ 5,517 $ 5,846 Amortization expense was $221,000 and $212,000 for the three June 30, 2020 2019 six June 30, 2020 2019 June 30, 2020 For the Three Months Ended For the Six Months Ended June 30, June 30, Lease cost: 2020 2019 2020 2019 Operating lease cost $ 221 $ 212 $ 439 $ 424 Short-term lease cost 41 29 71 60 Sublease income (20 ) (9 ) (38 ) (15 ) Total lease cost $ 242 $ 232 $ 472 $ 469 Other information: Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 238 $ 225 $ 471 $ 449 Future minimum payments under non-cancellable operating leases with terms longer than 12 June 30, 2020 Twelve months ended June 30, 2021 $ 952 2022 979 2023 1,007 2024 705 2025 504 Thereafter 2,470 Total future minimum operating lease payments 6,617 Amounts representing interest (1,100 ) Present value of net future minimum operating lease payments $ 5,517 |
Note 7 - Borrowings
Note 7 - Borrowings | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | NOTE 7 Advances from the FHLB were as follows: June 30, 2020 December 31, 2019 Contractual Contractual Rate Amount Rate Amount Fixed-rate advance from FHLB, due within 1 year — % $ 4,000 — % $ — Securities sold under agreements to repurchase, which are included with borrowings on the consolidated balance sheet, are shown below. Overnight and Continuous Up to 30 days 30 - 90 days Greater Than 90 days Total December 31, 2019 Repurchase agreements and repurchase-to-maturity transactions $ 61 $ — $ — $ — $ 61 Gross amount of recognized liabilities for repurchase agreements in Consolidated Statements of Financial Condition $ 61 There were no June 30, 2020 Securities sold under agreements to repurchase were secured by a mortgage-backed security with a carrying amount of $2.0 million at December 31, 2019 no On April 1, 2020, April 1, 2021. June 30, 2020 |
Note 8 - Fair Value
Note 8 - Fair Value | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | NOTE 8 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 may • Level 1 • Level 2 1 not • Level 3 The Company used the following methods and significant assumptions to estimate the fair value of each type of financial instrument: Securities 2 Impaired loans: may may 3 Other real estate owned: no may 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 June 30, 2020 Securities: Certificates of deposit $ — $ 49,288 $ — $ 49,288 Municipal securities — 514 — 514 Mortgage-backed securities – residential — 6,983 — 6,983 Collateralized mortgage obligations – residential — 2,652 — 2,652 $ — $ 59,437 $ — $ 59,437 December 31, 2019 Securities: Certificates of deposit $ — $ 48,666 $ — $ 48,666 Municipal securities — 513 — 513 Mortgage-backed securities - residential — 8,037 — 8,037 Collateralized mortgage obligations – residential — 2,977 — 2,977 $ — $ 60,193 $ — $ 60,193 At June 30, 2020 December 31, 2019 At June 30, 2020 December 31, 2019 The carrying amount and estimated fair value of financial instruments are as follows: Fair Value Measurements at June 30, 2020 Using: Carrying Amount Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents $ 384,765 $ 13,826 $ 370,939 $ — $ 384,765 Securities 59,437 — 59,437 — 59,437 Loans receivable, net of allowance for loan losses 1,081,798 — — 1,089,464 1,089,464 FHLB and FRB stock 7,490 — — — N /A Accrued interest receivable 4,447 — 102 4,345 4,447 Financial liabilities Certificates of deposit 340,717 — 343,032 — 343,032 Borrowings 4,000 — 3,994 — 3,994 Fair Value Measurements at December 31, 2019 Using: Carrying Amount Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents $ 190,325 $ 9,785 $ 180,540 $ — $ 190,325 Securities 60,193 — 60,193 — 60,193 Loans receivable, net of allowance for loan losses 1,168,008 — — 1,177,459 1,177,459 FHLB and FRB stock 7,490 — — — N /A Accrued interest receivable 4,563 — 252 4,311 4,563 Financial liabilities Certificates of deposit 402,034 — 402,914 — 402,914 Borrowings 61 — 61 — 61 Loans third may not While the above estimates are based on management’s judgment of the most appropriate factors, as of the balance sheet date, there is no may not In addition, other assets and liabilities that are not not |
Note 9 - Revenue from Contracts
Note 9 - Revenue from Contracts with Customers | 6 Months Ended |
Jun. 30, 2020 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | NOTE 9 All of the Company's revenue from contracts with customers within the scope of ASC 606 606 Three Months Ended Six Months Ended June 30, June 30, 2020 2019 2020 2019 Deposit service charges and fees $ 736 $ 974 $ 1,623 $ 1,904 Loan servicing fees (1) 82 56 145 79 Mortgage brokerage and banking fees (1) 11 21 40 49 Gain on sale of equity securities (1) — — — 295 Loss on disposal of other assets — — (2 ) (19 ) Trust and insurance commissions and annuities income 224 224 506 429 Earnings on bank-owned life insurance (1) 9 38 41 68 Other (1) 101 113 208 245 Total noninterest income $ 1,163 $ 1,426 $ 2,561 $ 3,050 ( 1 Not 606 A description of the Company's revenue streams accounted for under ASC 606 Deposit service charges and fees: Interchange income: three June 30, 2020 2019 six June 30, 2020 2019 Trust and insurance commissions and annuities income: i.e Gains/losses on sales of OREO and other assets: three six June 30, 2020 2019 not |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2020 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation three six June 30, 2020 not may December 31, 2020 Certain information and note disclosures normally included in financial statements prepared in conformity with accounting principles generally accepted in the United States of America (“US GAAP”) have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates |
Covid-19 [Policy Text Block] | COVID- 19 10 March 11, 2020, 19” 19 March 3, 2020, 50 1.00% 1.25%. 0% 0.25% March 16, 2020. 19 may 19 |
Reclassification, Comparability Adjustment [Policy Text Block] | Reclassifications These unaudited consolidated financial statements should be read in conjunction with the Company’s Annual Report on Form 10 December 31, 2019 |
New Accounting Pronouncements, Policy [Policy Text Block] | Newly Issued Not In June 2016, No. 2016 13, 326 2016 13” 2016 13 December 15, 2022. |
Note 2 - Earnings Per Share (Ta
Note 2 - Earnings Per Share (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended Six Months Ended June 30, June 30, 2020 2019 2020 2019 Net income available to common stockholders $ 2,352 $ 807 $ 4,770 $ 4,358 Basic and diluted weighted average common shares outstanding 14,978,757 15,472,618 15,092,244 15,835,445 Basic and diluted earnings per common share $ 0.16 $ 0.05 $ 0.32 $ 0.28 |
Note 3 - Securities (Tables)
Note 3 - Securities (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes Tables | |
Schedule of Available-for-sale Securities Reconciliation [Table Text Block] | Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Available-for-Sale Securities June 30, 2020 Certificates of deposit $ 49,288 $ — $ — $ 49,288 Municipal securities 504 10 — 514 Mortgage-backed securities - residential 6,668 315 — 6,983 Collateralized mortgage obligations - residential 2,657 3 (8 ) 2,652 $ 59,117 $ 328 $ (8 ) $ 59,437 December 31, 2019 Certificates of deposit $ 48,666 $ — $ — $ 48,666 Municipal securities 505 8 — 513 Mortgage-backed securities - residential 7,727 310 — 8,037 Collateralized mortgage obligations - residential 2,986 4 (13 ) 2,977 $ 59,884 $ 322 $ (13 ) $ 60,193 |
Investments Classified by Contractual Maturity Date [Table Text Block] | June 30, 2020 Amortized Cost Fair Value Due in one year or less $ 49,388 $ 49,389 Due after one year through five years 404 413 49,792 49,802 Mortgage-backed securities - residential 6,668 6,983 Collateralized mortgage obligations - residential 2,657 2,652 $ 59,117 $ 59,437 |
Realized Gain (Loss) on Investments [Table Text Block] | Three Months Ended Six Months Ended June 30, June 30, 2020 2019 2020 2019 Proceeds $ — $ — $ — $ 3,722 Gross gains — — — 295 Gross losses — — — — |
Schedule of Unrealized Loss on Investments [Table Text Block] | Less than 12 Months 12 Months or More Total Count Fair Value Unrealized Loss Count Fair Value Unrealized Loss Count Fair Value Unrealized Loss June 30, 2020 Collateralized mortgage obligations - residential — $ — $ — 3 $ 1,853 $ (8 ) 3 $ 1,853 $ (8 ) December 31, 2019 Collateralized mortgage obligations - residential 3 $ 1,566 $ (10 ) 1 $ 937 $ (3 ) 4 $ 2,503 $ (13 ) |
Note 4 - Loans Receivable (Tabl
Note 4 - Loans Receivable (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | June 30, 2020 December 31, 2019 One-to-four family residential real estate $ 48,928 $ 55,750 Multi-family mortgage 536,619 563,750 Nonresidential real estate 127,560 134,674 Commercial loans 126,609 145,714 Commercial leases 247,997 272,629 Consumer 1,783 2,211 1,089,496 1,174,728 Net deferred loan origination costs 458 912 Allowance for loan losses (8,156 ) (7,632 ) Loans, net $ 1,081,798 $ 1,168,008 |
Financing Receivable and Allowance for Loan Losses Based on Impairment Method [Table Text Block] | Allowance for loan losses Loan Balances Individually evaluated for impairment Collectively evaluated for impairment Total Individually evaluated for impairment Collectively evaluated for impairment Total June 30, 2020 One-to-four family residential real estate $ — $ 665 $ 665 $ 1,768 $ 47,160 $ 48,928 Multi-family mortgage — 4,185 4,185 604 536,015 536,619 Nonresidential real estate — 1,602 1,602 288 127,272 127,560 Commercial loans — 856 856 — 126,609 126,609 Commercial leases — 802 802 833 247,164 247,997 Consumer — 46 46 — 1,783 1,783 $ — $ 8,156 $ 8,156 $ 3,493 $ 1,086,003 1,089,496 Net deferred loan origination costs 458 Allowance for loan losses (8,156 ) Loans, net $ 1,081,798 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, 2019 One-to-four family residential real estate $ — $ 675 $ 675 $ 1,835 $ 53,915 $ 55,750 Multi-family mortgage — 3,676 3,676 620 563,130 563,750 Nonresidential real estate — 1,176 1,176 288 134,386 134,674 Commercial loans — 1,308 1,308 — 145,714 145,714 Commercial leases — 757 757 — 272,629 272,629 Consumer — 40 40 — 2,211 2,211 $ — $ 7,632 $ 7,632 $ 2,743 $ 1,171,985 1,174,728 Net deferred loan origination costs 912 Allowance for loan losses (7,632 ) Loans, net $ 1,168,008 |
Financing Receivable, Allowance for Credit Loss [Table Text Block] | One-to-four family residential real estate Multi-family mortgage Non-residential real estate Construction and land Commercial loans Commercial leases Consumer Total For the three months ended June 30, 2020 Allowance for loan losses: Beginning balance $ 682 $ 3,869 $ 1,460 $ — $ 1,275 $ 780 $ 46 $ 8,112 Provision for (recovery of) loan losses (20 ) 301 142 — (420 ) 22 17 42 Loans charged off — — — — — — (17 ) (17 ) Recoveries 3 15 — — 1 — — 19 Total ending allowance balance $ 665 $ 4,185 $ 1,602 $ — $ 856 $ 802 $ 46 $ 8,156 June 30, 2019 Allowance for loan losses: Beginning balance $ 649 $ 4,079 $ 1,487 $ 3 $ 1,422 $ 690 $ 24 $ 8,354 Provision for (recovery of) loan losses (42 ) (99 ) (292 ) — 4,313 60 17 3,957 Loans charged off (50 ) — — — (4,443 ) — (10 ) (4,503 ) Recoveries 6 8 — — 2 — — 16 Total ending allowance balance $ 563 $ 3,988 $ 1,195 $ 3 $ 1,294 $ 750 $ 31 $ 7,824 For the six months ended June 30, 2020 Allowance for loan losses: Beginning balance $ 675 $ 3,676 $ 1,176 $ — $ 1,308 $ 757 $ 40 $ 7,632 Provision for (recovery of) loan losses (21 ) 482 426 — (455 ) 45 36 513 Loans charged off (5 ) — — — — — (30 ) (35 ) Recoveries 16 27 — — 3 — — 46 Total ending allowance balance $ 665 $ 4,185 $ 1,602 $ — $ 856 $ 802 $ 46 $ 8,156 June 30, 2019 Allowance for loan losses: Beginning balance $ 699 $ 3,991 $ 1,476 $ 4 $ 1,517 $ 755 $ 28 $ 8,470 Provision for (recovery of) loan losses (86 ) (19 ) (253 ) (1 ) 4,216 (5 ) 18 3,870 Loans charged off (73 ) — (28 ) — (4,443 ) — (15 ) (4,559 ) Recoveries 23 16 — — 4 — — 43 Total ending allowance balance $ 563 $ 3,988 $ 1,195 $ 3 $ 1,294 $ 750 $ 31 $ 7,824 |
Impaired Financing Receivables [Table Text Block] | Three Months Ended Six Months Ended June 30, 2020 June 30, 2020 Loan Balance Recorded Investment Partial Charge off Allowance for Loan Losses Allocated Average Investment in Impaired Loans Interest Income Recognized Average Investment in Impaired Loans Interest Income Recognized June 30, 2020 With no related allowance recorded: One-to-four family residential real estate $ 2,113 $ 1,768 $ 353 $ — $ 1,789 $ 11 $ 1,816 $ 24 Multi-family mortgage - Illinois 604 604 — — 609 9 612 18 Nonresidential real estate 280 288 — — 288 — 288 — Other commercial leases 843 833 — — 350 — 216 2 $ 3,840 $ 3,493 $ 353 $ — $ 3,036 $ 20 $ 2,932 $ 44 Year ended December 31, 2019 Loan Balance Recorded Investment Partial Charge-off Allowance for Loan Losses Allocated Average Investment in Impaired Loans Interest Income Recognized December 31, 2019 With no related allowance recorded: One-to-four family residential real estate $ 2,168 $ 1,835 $ 339 $ — $ 2,208 $ 51 Multi-family mortgage - Illinois 620 620 — — 637 37 Nonresidential real estate 280 288 — — 589 2 $ 3,068 $ 2,743 $ 339 $ — $ 3,434 $ 90 |
Financing Receivable, Nonaccrual [Table Text Block] | Loan Balance Recorded Investment Loans Past Due Over 90 Days, Still Accruing June 30, 2020 One-to-four family residential real estate $ 686 $ 662 $ — Nonresidential real estate 280 288 — Other commercial leases 843 833 — $ 1,809 $ 1,783 $ — December 31, 2019 One-to-four family residential real estate $ 598 $ 512 $ — Nonresidential real estate 280 288 — Investment-rated commercial leases 47 — 47 $ 925 $ 800 $ 47 |
Financing Receivable, Past Due [Table Text Block] | 30-59 Days Past Due 60-89 Days Past Due 90 Days or Greater Past Due Total Past Due Loans Not Past Due Total June 30, 2020 One-to-four family residential real estate loans: Owner occupied $ — $ 21 $ 658 $ 679 $ 38,931 $ 39,610 Non-owner occupied 3 187 — $ 190 9,128 9,318 Multi-family mortgage: Illinois — — — — 230,913 230,913 Other — — — — 305,706 305,706 Nonresidential real estate — — 288 288 127,272 127,560 Commercial loans: Regional commercial banking — — — — 32,388 32,388 Health care — — — — 12,554 12,554 Direct commercial lessor — — — — 81,667 81,667 Commercial leases: Investment-rated commercial leases — 509 — 509 114,123 114,632 Other commercial leases 1,936 136 833 2,905 130,460 133,365 Consumer 6 1 — 7 1,776 1,783 $ 1,945 $ 854 $ 1,779 $ 4,578 $ 1,084,918 $ 1,089,496 30-59 Days Past Due 60-89 Days Past Due 90 Days or Greater Past Due Total Past Due Loans Not Past Due Total December 31, 2019 One-to-four family residential real estate loans: Owner occupied $ 777 $ 340 $ 507 $ 1,624 $ 43,365 $ 44,989 Non-owner occupied 280 15 — 295 10,466 10,761 Multi-family mortgage: Illinois 981 302 — 1,283 246,680 247,963 Other — — — — 315,787 315,787 Nonresidential real estate — — 288 288 134,386 134,674 Commercial loans: Regional commercial banking — — — — 24,853 24,853 Health care — — — — 70,430 70,430 Direct commercial lessor — — — — 50,431 50,431 Commercial leases: Investment-rated commercial leases 826 — 47 873 132,966 133,839 Other commercial leases 543 136 — 679 138,111 138,790 Consumer 24 37 — 61 2,150 2,211 $ 3,431 $ 830 $ 842 $ 5,103 $ 1,169,625 $ 1,174,728 |
Financing Receivable Credit Quality Indicators [Table Text Block] | Pass Special Mention Substandard Nonaccrual Total June 30, 2020 One-to-four family residential real estate loans: Owner occupied $ 38,402 $ 79 $ 467 $ 662 $ 39,610 Non-owner occupied 9,255 29 34 — 9,318 Multi-family mortgage: Illinois 230,913 — — — 230,913 Other 305,706 — — — 305,706 Nonresidential real estate 124,322 160 2,790 288 127,560 Commercial loans: Regional commercial banking 32,388 — — — 32,388 Health care 12,117 437 — — 12,554 Direct commercial lessor 81,667 — — — 81,667 Commercial leases: Investment-rated commercial leases 114,632 — — — 114,632 Other commercial leases 131,271 — 1,261 833 133,365 Consumer 1,770 2 11 — 1,783 $ 1,082,443 $ 707 $ 4,563 $ 1,783 $ 1,089,496 Pass Special Mention Substandard Nonaccrual Total December 31, 2019 One-to-four family residential real estate loans: Owner occupied $ 43,908 $ 36 $ 533 $ 512 $ 44,989 Non-owner occupied 10,696 30 35 — 10,761 Multi-family mortgage: Illinois 247,757 — 206 — 247,963 Other 315,787 — — — 315,787 Nonresidential real estate 134,134 162 90 288 134,674 Commercial loans: Regional commercial banking 24,853 — — — 24,853 Health care 62,084 8,346 — — 70,430 Direct commercial lessor 50,431 — — — 50,431 Commercial leases: Investment-rated commercial leases 133,332 507 — — 133,839 Other commercial leases 137,893 761 136 — 138,790 Consumer 2,153 5 53 — 2,211 $ 1,163,028 $ 9,847 $ 1,053 $ 800 $ 1,174,728 |
COVID 19 [Member] | |
Notes Tables | |
Schedule of Unusual or Infrequent Items, or Both [Table Text Block] | Number of loans Principal Balance Principal Amount Deferred Small Investment Property COVID-19 Forbearance Agreement Multi-family mortgage 23 $ 7,143 $ 45 Nonresidential real estate 18 7,183 89 Qualified Limited Forbearance Program Multi-family mortgage 66 50,959 244 Nonresidential real estate 34 42,968 373 Commercial leases 18 5,853 579 One-to-four family residential real estate 10 1,312 8 169 $ 115,418 $ 1,338 |
Paycheck Protection Program CARES Act [Member] | |
Notes Tables | |
Schedule of Unusual or Infrequent Items, or Both [Table Text Block] | Number of loans Originated Balance For the Six Months Ended June 30, 2020 Paycheck protection program loan originations 305 $ 11,024 June 30, 2020 Paycheck protection program loans 300 $ 10,907 |
Note 5 - Other Real Estate Ow_2
Note 5 - Other Real Estate Owned (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes Tables | |
Schedule of Real Estate Properties [Table Text Block] | June 30, 2020 December 31, 2019 Balance Valuation Allowance Net OREO Balance Balance Valuation Allowance Net OREO Balance One–to–four family residential $ 143 $ - $ 143 $ 186 $ — $ 186 |
Other Real Estate, Roll Forward [Table Text Block] | For the Three Months Ended For the Six Months Ended June 30, June 30, 2020 2019 2020 2019 Beginning balance $ 110 $ 921 $ 186 $ 1,226 New foreclosed properties 33 — 33 46 Valuation adjustments — (21 ) — (21 ) Sales and other reductions — (403 ) (76 ) (754 ) Ending balance $ 143 $ 497 $ 143 $ 497 |
Other Real Estate Owned, Valuation Allowance [Table Text Block] | For the Three Months Ended For the Six Months Ended June 30, June 30, 2020 2019 2020 2019 Beginning balance $ — $ — $ — $ 23 Additions charged to expense — 21 — 21 Reductions from sales of OREO — — — (23 ) Ending balance $ — $ 21 $ — $ 21 |
Note 6 - Leases (Tables)
Note 6 - Leases (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes Tables | |
Assets and Liabilities, Lessee [Table Text Block] | Statement of Financial Condition Location June 30, 2020 December 31, 2019 Operating Lease Right of Use Asset: Gross carrying amount $ 6,694 $ — New lease obligation 111 6,694 Accumulated amortization (1,288 ) (848 ) Net carrying value Other assets $ 5,517 $ 5,846 Operating Lease Liabilities: Right of use lease obligations Other liabilities $ 5,517 $ 5,846 |
Lease, Cost [Table Text Block] | For the Three Months Ended For the Six Months Ended June 30, June 30, Lease cost: 2020 2019 2020 2019 Operating lease cost $ 221 $ 212 $ 439 $ 424 Short-term lease cost 41 29 71 60 Sublease income (20 ) (9 ) (38 ) (15 ) Total lease cost $ 242 $ 232 $ 472 $ 469 Other information: Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 238 $ 225 $ 471 $ 449 |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | Twelve months ended June 30, 2021 $ 952 2022 979 2023 1,007 2024 705 2025 504 Thereafter 2,470 Total future minimum operating lease payments 6,617 Amounts representing interest (1,100 ) Present value of net future minimum operating lease payments $ 5,517 |
Note 7 - Borrowings (Tables)
Note 7 - Borrowings (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes Tables | |
Federal Home Loan Bank, Advances [Table Text Block] | June 30, 2020 December 31, 2019 Contractual Contractual Rate Amount Rate Amount Fixed-rate advance from FHLB, due within 1 year — % $ 4,000 — % $ — |
Schedule of Repurchase Agreements [Table Text Block] | Overnight and Continuous Up to 30 days 30 - 90 days Greater Than 90 days Total December 31, 2019 Repurchase agreements and repurchase-to-maturity transactions $ 61 $ — $ — $ — $ 61 Gross amount of recognized liabilities for repurchase agreements in Consolidated Statements of Financial Condition $ 61 |
Note 8 - Fair Value (Tables)
Note 8 - Fair Value (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | 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 June 30, 2020 Securities: Certificates of deposit $ — $ 49,288 $ — $ 49,288 Municipal securities — 514 — 514 Mortgage-backed securities – residential — 6,983 — 6,983 Collateralized mortgage obligations – residential — 2,652 — 2,652 $ — $ 59,437 $ — $ 59,437 December 31, 2019 Securities: Certificates of deposit $ — $ 48,666 $ — $ 48,666 Municipal securities — 513 — 513 Mortgage-backed securities - residential — 8,037 — 8,037 Collateralized mortgage obligations – residential — 2,977 — 2,977 $ — $ 60,193 $ — $ 60,193 |
Fair Value, by Balance Sheet Grouping [Table Text Block] | Fair Value Measurements at June 30, 2020 Using: Carrying Amount Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents $ 384,765 $ 13,826 $ 370,939 $ — $ 384,765 Securities 59,437 — 59,437 — 59,437 Loans receivable, net of allowance for loan losses 1,081,798 — — 1,089,464 1,089,464 FHLB and FRB stock 7,490 — — — N /A Accrued interest receivable 4,447 — 102 4,345 4,447 Financial liabilities Certificates of deposit 340,717 — 343,032 — 343,032 Borrowings 4,000 — 3,994 — 3,994 Fair Value Measurements at December 31, 2019 Using: Carrying Amount Level 1 Level 2 Level 3 Total Financial assets Cash and cash equivalents $ 190,325 $ 9,785 $ 180,540 $ — $ 190,325 Securities 60,193 — 60,193 — 60,193 Loans receivable, net of allowance for loan losses 1,168,008 — — 1,177,459 1,177,459 FHLB and FRB stock 7,490 — — — N /A Accrued interest receivable 4,563 — 252 4,311 4,563 Financial liabilities Certificates of deposit 402,034 — 402,914 — 402,914 Borrowings 61 — 61 — 61 |
Note 9 - Revenue from Contrac_2
Note 9 - Revenue from Contracts with Customers (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | Three Months Ended Six Months Ended June 30, June 30, 2020 2019 2020 2019 Deposit service charges and fees $ 736 $ 974 $ 1,623 $ 1,904 Loan servicing fees (1) 82 56 145 79 Mortgage brokerage and banking fees (1) 11 21 40 49 Gain on sale of equity securities (1) — — — 295 Loss on disposal of other assets — — (2 ) (19 ) Trust and insurance commissions and annuities income 224 224 506 429 Earnings on bank-owned life insurance (1) 9 38 41 68 Other (1) 101 113 208 245 Total noninterest income $ 1,163 $ 1,426 $ 2,561 $ 3,050 |
Note 2 - Earnings Per Share - E
Note 2 - Earnings Per Share - Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Net income available to common stockholders | $ 2,352 | $ 807 | $ 4,770 | $ 4,358 |
Basic and diluted weighted average common shares outstanding (in shares) | 14,978,757 | 15,472,618 | 15,092,244 | 15,835,445 |
Basic and diluted earnings per common share (in dollars per share) | $ 0.16 | $ 0.05 | $ 0.32 | $ 0.28 |
Note 3 - Securities (Details Te
Note 3 - Securities (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | |||||||
Jun. 30, 2020 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Jun. 30, 2020 | Jun. 30, 2019 | Dec. 31, 2019 | Dec. 31, 2007 | ||
Pledged Assets Separately Reported, Securities Pledged as Collateral, at Fair Value, Total | $ 1,300,000 | $ 1,300,000 | $ 2,000,000 | ||||||
Equity Securities, FV-NI, Gain (Loss), Total | [1] | $ 0 | $ 0 | $ 0 | $ 295,000 | ||||
Visa Inc Class B Common Stock [Member] | |||||||||
Equity Securities without Readily Determinable Fair Value, Shares (in shares) | 25,702 | 51,404 | |||||||
Equity Securities without Readily Determinable Fair Value, Shares Sold (in shares) | 25,702 | ||||||||
Equity Securities, FV-NI, Gain (Loss), Total | $ 295,000 | ||||||||
[1] | Not within the scope of ASC 606 |
Note 3 - Securities - Fair Valu
Note 3 - Securities - Fair Value of Securities (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Amortized cost | $ 59,117 | $ 59,884 |
Gross unrealized gains | 328 | 322 |
Gross unrealized losses | (8) | (13) |
Fair value | 59,437 | 60,193 |
Certificates of Deposit [Member] | ||
Amortized cost | 49,288 | 48,666 |
Gross unrealized gains | 0 | 0 |
Gross unrealized losses | 0 | 0 |
Fair value | 49,288 | 48,666 |
US States and Political Subdivisions Debt Securities [Member] | ||
Amortized cost | 504 | 505 |
Gross unrealized gains | 10 | 8 |
Gross unrealized losses | 0 | 0 |
Fair value | 514 | 513 |
Residential Mortgage Backed Securities [Member] | ||
Amortized cost | 6,668 | 7,727 |
Gross unrealized gains | 315 | 310 |
Gross unrealized losses | 0 | 0 |
Fair value | 6,983 | 8,037 |
Collateralized Mortgage Backed Securities [Member] | ||
Amortized cost | 2,657 | 2,986 |
Gross unrealized gains | 3 | 4 |
Gross unrealized losses | (8) | (13) |
Fair value | $ 2,652 | $ 2,977 |
Note 3 - Securities - Amortized
Note 3 - Securities - Amortized Cost and Fair Value of Securities By Contractual Maturity (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Due in one year or less, amortized cost | $ 49,388 | |
Due in one year or less, fair value | 49,389 | |
Due after one year through five years, amortized cost | 404 | |
Due after one year through five years, fair value | 413 | |
Amortized cost, single maturity date | 49,792 | |
Fair value, single maturity date | 49,802 | |
Amortized cost | 59,117 | $ 59,884 |
Fair value | 59,437 | 60,193 |
Residential Mortgage Backed Securities [Member] | ||
Amortized cost, without single maturity date | 6,668 | |
Fair value, without single maturity date | 6,983 | |
Amortized cost | 6,668 | 7,727 |
Fair value | 6,983 | 8,037 |
Collateralized Mortgage Backed Securities [Member] | ||
Amortized cost, without single maturity date | 2,657 | |
Fair value, without single maturity date | 2,652 | |
Amortized cost | 2,657 | 2,986 |
Fair value | $ 2,652 | $ 2,977 |
Note 3 - Securities - Sales of
Note 3 - Securities - Sales of Equity Securities (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Proceeds | $ 0 | $ 0 | $ 0 | $ 3,722 |
Gross gains | 0 | 0 | 0 | 295 |
Gross losses | $ 0 | $ 0 | $ 0 | $ 0 |
Note 3 - Securities - Securitie
Note 3 - Securities - Securities with Unrealized Losses (Details) - Collateralized Mortgage Backed Securities [Member] Pure in Thousands, $ in Thousands | Jun. 30, 2020USD ($) | Dec. 31, 2019USD ($) |
Count, less than 12 months | 0 | 3 |
Collateralized mortgage obligations - residential | $ 0 | $ 1,566 |
Unrealized loss, less than 12 months | $ 0 | $ (10) |
Count, 12 months or more | 3 | 1 |
Fair value, 12 months or more | $ 1,853 | $ 937 |
Unrealized loss, 12 months or more | $ (8) | $ (3) |
Count, total | 3 | 4 |
Fair value, total | $ 1,853 | $ 2,503 |
Unrealized loss, total | $ (8) | $ (13) |
Note 4 - Loans Receivable (Deta
Note 4 - Loans Receivable (Details Textual) Pure in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2020USD ($) | Jun. 30, 2019 | Jun. 30, 2020USD ($) | Jun. 30, 2019 | Dec. 31, 2019USD ($) | |
Reserve for Uncollected Loan Interest | $ 123,000 | $ 123,000 | $ 81,000 | ||
Financing Receivable, Troubled Debt Restructuring, Commitment to Lend | $ 0 | $ 0 | $ 0 | ||
Financing Receivable, Modifications, Number of Contracts | 0 | 0 | |||
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | 0 | 0 | 0 | 0 | |
Paycheck Protection Program CARES Act [Member] | |||||
Proceeds from Issuance of Long-term Debt, Total | $ 11,000,000 |
Note 4 - Loans Receivable - Loa
Note 4 - Loans Receivable - Loans Receivable (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 |
Loans receivable | $ 1,089,496 | $ 1,174,728 | ||||
Net deferred loan origination costs | (458) | (912) | ||||
Allowance for loan losses | (8,156) | $ (8,112) | (7,632) | $ (7,824) | $ (8,354) | $ (8,470) |
Loans, net | 1,081,798 | 1,168,008 | ||||
Commercial Portfolio Segment [Member] | ||||||
Loans receivable | 126,609 | 145,714 | ||||
Allowance for loan losses | (856) | (1,308) | ||||
Finance Leases Portfolio Segment [Member] | ||||||
Loans receivable | 247,997 | 272,629 | ||||
Allowance for loan losses | (802) | (757) | ||||
Consumer Portfolio Segment [Member] | ||||||
Loans receivable | 1,783 | 2,211 | ||||
Allowance for loan losses | (46) | (40) | ||||
One-to-Four Family Residential Real Estate [Member] | Real Estate Portfolio [Member] | ||||||
Loans receivable | 48,928 | 55,750 | ||||
Allowance for loan losses | (665) | (675) | ||||
Multi-family Mortgage [Member] | Real Estate Portfolio [Member] | ||||||
Loans receivable | 536,619 | 563,750 | ||||
Allowance for loan losses | (4,185) | (3,676) | ||||
Nonresidential Real Estate [Member] | ||||||
Allowance for loan losses | (1,602) | $ (1,460) | (1,176) | $ (1,195) | $ (1,487) | $ (1,476) |
Nonresidential Real Estate [Member] | Real Estate Portfolio [Member] | ||||||
Loans receivable | 127,560 | 134,674 | ||||
Allowance for loan losses | $ (1,602) | $ (1,176) |
Note 4 - Loans Receivable - All
Note 4 - Loans Receivable - Allowance for Loan Losses and Loans Receivable (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 |
Allowance for loan losses, individually evaluated for impairment | $ 0 | $ 0 | ||||
Allowance for loan losses, collectively evaluated for impairment | 8,156 | 7,632 | ||||
Allowance for loan losses | 8,156 | $ 8,112 | 7,632 | $ 7,824 | $ 8,354 | $ 8,470 |
Loan balances, individually evaluated for impairment | 3,493 | 2,743 | ||||
Loan balances, collectively evaluated for impairment | 1,086,003 | 1,171,985 | ||||
Loans receivable | 1,089,496 | 1,174,728 | ||||
Net deferred loan origination costs | 458 | 912 | ||||
Allowance for loan losses | (8,156) | (8,112) | (7,632) | (7,824) | (8,354) | (8,470) |
Loans receivable, net of allowance for loan losses: June 30, 2020, $8,156 and December 31, 2019, $7,632 | 1,081,798 | 1,168,008 | ||||
Nonresidential Real Estate [Member] | ||||||
Allowance for loan losses, individually evaluated for impairment | 0 | |||||
Allowance for loan losses | 1,602 | 1,460 | 1,176 | 1,195 | 1,487 | 1,476 |
Allowance for loan losses | (1,602) | $ (1,460) | (1,176) | $ (1,195) | $ (1,487) | $ (1,476) |
Real Estate Portfolio [Member] | One-to-Four Family Residential Real Estate [Member] | ||||||
Allowance for loan losses, individually evaluated for impairment | 0 | 0 | ||||
Allowance for loan losses, collectively evaluated for impairment | 665 | 675 | ||||
Allowance for loan losses | 665 | 675 | ||||
Loan balances, individually evaluated for impairment | 1,768 | 1,835 | ||||
Loan balances, collectively evaluated for impairment | 47,160 | 53,915 | ||||
Loans receivable | 48,928 | 55,750 | ||||
Allowance for loan losses | (665) | (675) | ||||
Real Estate Portfolio [Member] | Multi-family Mortgage [Member] | ||||||
Allowance for loan losses, individually evaluated for impairment | 0 | 0 | ||||
Allowance for loan losses, collectively evaluated for impairment | 4,185 | 3,676 | ||||
Allowance for loan losses | 4,185 | 3,676 | ||||
Loan balances, individually evaluated for impairment | 604 | 620 | ||||
Loan balances, collectively evaluated for impairment | 536,015 | 563,130 | ||||
Loans receivable | 536,619 | 563,750 | ||||
Allowance for loan losses | (4,185) | (3,676) | ||||
Real Estate Portfolio [Member] | Nonresidential Real Estate [Member] | ||||||
Allowance for loan losses, individually evaluated for impairment | 0 | 0 | ||||
Allowance for loan losses, collectively evaluated for impairment | 1,602 | 1,176 | ||||
Allowance for loan losses | 1,602 | 1,176 | ||||
Loan balances, individually evaluated for impairment | 288 | 288 | ||||
Loan balances, collectively evaluated for impairment | 127,272 | 134,386 | ||||
Loans receivable | 127,560 | 134,674 | ||||
Allowance for loan losses | (1,602) | (1,176) | ||||
Commercial Portfolio Segment [Member] | ||||||
Allowance for loan losses, individually evaluated for impairment | 0 | 0 | ||||
Allowance for loan losses, collectively evaluated for impairment | 856 | 1,308 | ||||
Allowance for loan losses | 856 | 1,308 | ||||
Loan balances, individually evaluated for impairment | 0 | 0 | ||||
Loan balances, collectively evaluated for impairment | 126,609 | 145,714 | ||||
Loans receivable | 126,609 | 145,714 | ||||
Allowance for loan losses | (856) | (1,308) | ||||
Finance Leases Portfolio Segment [Member] | ||||||
Allowance for loan losses, individually evaluated for impairment | 0 | 0 | ||||
Allowance for loan losses, collectively evaluated for impairment | 802 | 757 | ||||
Allowance for loan losses | 802 | 757 | ||||
Loan balances, individually evaluated for impairment | 833 | 0 | ||||
Loan balances, collectively evaluated for impairment | 247,164 | 272,629 | ||||
Loans receivable | 247,997 | 272,629 | ||||
Allowance for loan losses | (802) | (757) | ||||
Consumer Portfolio Segment [Member] | ||||||
Allowance for loan losses, individually evaluated for impairment | 0 | 0 | ||||
Allowance for loan losses, collectively evaluated for impairment | 46 | 40 | ||||
Allowance for loan losses | 46 | 40 | ||||
Loan balances, individually evaluated for impairment | 0 | 0 | ||||
Loan balances, collectively evaluated for impairment | 1,783 | 2,211 | ||||
Loans receivable | 1,783 | 2,211 | ||||
Allowance for loan losses | $ (46) | $ (40) |
Note 4 - Loans Receivable - Act
Note 4 - Loans Receivable - Activity in the Allowance for Loan Losses (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Beginning balance | $ 8,112 | $ 8,354 | $ 7,632 | $ 8,470 |
Provision for loan losses | 42 | 3,957 | 513 | 3,870 |
Loans charged off | (17) | (4,503) | (35) | (4,559) |
Recoveries | 19 | 16 | 46 | 43 |
Total ending allowance balance | 8,156 | 7,824 | 8,156 | 7,824 |
One To Four Family Residential Real Estate Loans [Member] | ||||
Beginning balance | 682 | 649 | 675 | 699 |
Provision for loan losses | (20) | (42) | (21) | (86) |
Loans charged off | 0 | (50) | (5) | (73) |
Recoveries | 3 | 6 | 16 | 23 |
Total ending allowance balance | 665 | 563 | 665 | 563 |
Multi Family Mortgage Loans [Member] | ||||
Beginning balance | 3,869 | 4,079 | 3,676 | 3,991 |
Provision for loan losses | 301 | (99) | 482 | (19) |
Loans charged off | 0 | 0 | 0 | 0 |
Recoveries | 15 | 8 | 27 | 16 |
Total ending allowance balance | 4,185 | 3,988 | 4,185 | 3,988 |
Nonresidential Real Estate [Member] | ||||
Beginning balance | 1,460 | 1,487 | 1,176 | 1,476 |
Provision for loan losses | 142 | (292) | 426 | (253) |
Loans charged off | 0 | 0 | 0 | (28) |
Recoveries | 0 | 0 | 0 | 0 |
Total ending allowance balance | 1,602 | 1,195 | 1,602 | 1,195 |
Construction and Land Loans [Member] | ||||
Beginning balance | 0 | 3 | 0 | 4 |
Provision for loan losses | 0 | 0 | 0 | (1) |
Loans charged off | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 | 0 |
Total ending allowance balance | 0 | 3 | 0 | 3 |
Commercial Loan [Member] | ||||
Beginning balance | 1,275 | 1,422 | 1,308 | 1,517 |
Provision for loan losses | (420) | 4,313 | (455) | 4,216 |
Loans charged off | 0 | (4,443) | 0 | (4,443) |
Recoveries | 1 | 2 | 3 | 4 |
Total ending allowance balance | 856 | 1,294 | 856 | 1,294 |
Finance Leases Portfolio Segment [Member] | ||||
Beginning balance | 780 | 690 | 757 | 755 |
Provision for loan losses | 22 | 60 | 45 | (5) |
Loans charged off | 0 | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 | 0 |
Total ending allowance balance | 802 | 750 | 802 | 750 |
Consumer Loan [Member] | ||||
Beginning balance | 46 | 24 | 40 | 28 |
Provision for loan losses | 17 | 17 | 36 | 18 |
Loans charged off | (17) | (10) | (30) | (15) |
Recoveries | 0 | 0 | 0 | 0 |
Total ending allowance balance | $ 46 | $ 31 | $ 46 | $ 31 |
Note 4 - Loans Receivable - L_2
Note 4 - Loans Receivable - Loans Individually Evaluated for Impairment By Class (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended |
Jun. 30, 2020 | Jun. 30, 2020 | Dec. 31, 2019 | |
Loan balance, with no allowance recorded | $ 3,840 | $ 3,840 | $ 3,068 |
Recorded investment, with no allowance recorded | 3,493 | 3,493 | 2,743 |
Partial charge-off, with no allowance recorded | 353 | 353 | 339 |
Allowance for loan losses, individually evaluated for impairment | 0 | 0 | 0 |
Average investment in impaired loans, with no allowance recorded | 3,036 | 2,932 | 3,434 |
Interest income recognized, with no allowance recorded | 20 | 44 | 90 |
Nonresidential Real Estate [Member] | |||
Loan balance, with no allowance recorded | 280 | ||
Recorded investment, with no allowance recorded | 288 | ||
Partial charge-off, with no allowance recorded | 0 | ||
Allowance for loan losses, individually evaluated for impairment | 0 | ||
Average investment in impaired loans, with no allowance recorded | 589 | ||
Interest income recognized, with no allowance recorded | 2 | ||
Real Estate Portfolio [Member] | One-to-Four Family Residential Real Estate [Member] | |||
Loan balance, with no allowance recorded | 2,113 | 2,113 | 2,168 |
Recorded investment, with no allowance recorded | 1,768 | 1,768 | 1,835 |
Partial charge-off, with no allowance recorded | 353 | 353 | 339 |
Allowance for loan losses, individually evaluated for impairment | 0 | 0 | 0 |
Average investment in impaired loans, with no allowance recorded | 1,789 | 1,816 | 2,208 |
Interest income recognized, with no allowance recorded | 11 | 24 | 51 |
Real Estate Portfolio [Member] | Multi-family Mortgage [Member] | |||
Allowance for loan losses, individually evaluated for impairment | 0 | 0 | 0 |
Real Estate Portfolio [Member] | Multi-family Mortgage [Member] | ILLINOIS | |||
Loan balance, with no allowance recorded | 604 | 604 | 620 |
Recorded investment, with no allowance recorded | 604 | 604 | 620 |
Partial charge-off, with no allowance recorded | 0 | 0 | 0 |
Allowance for loan losses, individually evaluated for impairment | 0 | 0 | 0 |
Average investment in impaired loans, with no allowance recorded | 609 | 612 | 637 |
Interest income recognized, with no allowance recorded | 9 | 18 | 37 |
Real Estate Portfolio [Member] | Nonresidential Real Estate [Member] | |||
Loan balance, with no allowance recorded | 280 | 280 | |
Recorded investment, with no allowance recorded | 288 | 288 | |
Partial charge-off, with no allowance recorded | 0 | 0 | |
Allowance for loan losses, individually evaluated for impairment | 0 | 0 | 0 |
Average investment in impaired loans, with no allowance recorded | 288 | 288 | |
Interest income recognized, with no allowance recorded | 0 | 0 | |
Finance Leases Portfolio Segment [Member] | |||
Allowance for loan losses, individually evaluated for impairment | 0 | 0 | $ 0 |
Finance Leases Portfolio Segment [Member] | Other [Member] | |||
Loan balance, with no allowance recorded | 843 | 843 | |
Recorded investment, with no allowance recorded | 833 | 833 | |
Partial charge-off, with no allowance recorded | 0 | 0 | |
Allowance for loan losses, individually evaluated for impairment | 0 | 0 | |
Average investment in impaired loans, with no allowance recorded | 350 | 216 | |
Interest income recognized, with no allowance recorded | $ 0 | $ 2 |
Note 4 - Loans Receivable - Rec
Note 4 - Loans Receivable - Recorded Investment in Nonaccrual Loans (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Loan balance | $ 1,809 | $ 925 |
Recorded investment | 1,783 | 800 |
Loans past due over 90 days, still accruing | 0 | 47 |
Loan balance | 1,809 | 925 |
Recorded investment | 1,783 | 800 |
Real Estate Portfolio [Member] | One-to-Four Family Residential Real Estate [Member] | ||
Loan balance | 686 | 598 |
Recorded investment | 662 | 512 |
Loans past due over 90 days, still accruing | 0 | 0 |
Loan balance | 686 | 598 |
Recorded investment | 662 | 512 |
Real Estate Portfolio [Member] | Nonresidential Real Estate [Member] | ||
Loan balance | 280 | 280 |
Recorded investment | 288 | 288 |
Loans past due over 90 days, still accruing | 0 | 0 |
Loan balance | 280 | 280 |
Recorded investment | 288 | 288 |
Finance Leases Portfolio Segment [Member] | Other [Member] | ||
Loan balance | 843 | |
Recorded investment | 833 | |
Loans past due over 90 days, still accruing | 0 | |
Loan balance | 843 | |
Recorded investment | $ 833 | |
Finance Leases Portfolio Segment [Member] | Investment Rated Commercial Leases [Member] | ||
Loan balance | 47 | |
Recorded investment | 0 | |
Loans past due over 90 days, still accruing | 47 | |
Loan balance | 47 | |
Recorded investment | $ 0 |
Note 4 - Loans Receivable - Agi
Note 4 - Loans Receivable - Aging of the Recorded Investment of Loans (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Past Due | $ 4,578 | $ 5,103 |
Loans Not Past Due | 1,084,918 | 1,169,625 |
Total Loans | 1,089,496 | 1,174,728 |
Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past Due | 1,945 | 3,431 |
Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past Due | 854 | 830 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Past Due | 1,779 | 842 |
Real Estate Portfolio [Member] | One-to-Four Family Residential Real Estate, Owner Occupied [Member] | ||
Past Due | 679 | 1,624 |
Loans Not Past Due | 38,931 | 43,365 |
Total Loans | 39,610 | 44,989 |
Real Estate Portfolio [Member] | One-to-Four Family Residential Real Estate, Owner Occupied [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past Due | 0 | 777 |
Real Estate Portfolio [Member] | One-to-Four Family Residential Real Estate, Owner Occupied [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past Due | 21 | 340 |
Real Estate Portfolio [Member] | One-to-Four Family Residential Real Estate, Owner Occupied [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Past Due | 658 | 507 |
Real Estate Portfolio [Member] | One-to-Four Family Residential Real Estate, Non-owner Occupied [Member] | ||
Past Due | 190 | 295 |
Loans Not Past Due | 9,128 | 10,466 |
Total Loans | 9,318 | 10,761 |
Real Estate Portfolio [Member] | One-to-Four Family Residential Real Estate, Non-owner Occupied [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past Due | 3 | 280 |
Real Estate Portfolio [Member] | One-to-Four Family Residential Real Estate, Non-owner Occupied [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past Due | 187 | 15 |
Real Estate Portfolio [Member] | One-to-Four Family Residential Real Estate, Non-owner Occupied [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Past Due | 0 | 0 |
Real Estate Portfolio [Member] | Multi-family Mortgage [Member] | ILLINOIS | ||
Past Due | 0 | 1,283 |
Loans Not Past Due | 230,913 | 246,680 |
Total Loans | 230,913 | 247,963 |
Real Estate Portfolio [Member] | Multi-family Mortgage [Member] | Other [Member] | ||
Past Due | 0 | 0 |
Loans Not Past Due | 305,706 | 315,787 |
Total Loans | 305,706 | 315,787 |
Real Estate Portfolio [Member] | Multi-family Mortgage [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ILLINOIS | ||
Past Due | 0 | 981 |
Real Estate Portfolio [Member] | Multi-family Mortgage [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | Other [Member] | ||
Past Due | 0 | 0 |
Real Estate Portfolio [Member] | Multi-family Mortgage [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ILLINOIS | ||
Past Due | 0 | 302 |
Real Estate Portfolio [Member] | Multi-family Mortgage [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | Other [Member] | ||
Past Due | 0 | 0 |
Real Estate Portfolio [Member] | Multi-family Mortgage [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ILLINOIS | ||
Past Due | 0 | 0 |
Real Estate Portfolio [Member] | Multi-family Mortgage [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Other [Member] | ||
Past Due | 0 | 0 |
Real Estate Portfolio [Member] | Nonresidential Real Estate [Member] | ||
Past Due | 288 | 288 |
Loans Not Past Due | 127,272 | 134,386 |
Total Loans | 127,560 | 134,674 |
Real Estate Portfolio [Member] | Nonresidential Real Estate [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past Due | 0 | 0 |
Real Estate Portfolio [Member] | Nonresidential Real Estate [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past Due | 0 | 0 |
Real Estate Portfolio [Member] | Nonresidential Real Estate [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Past Due | 288 | 288 |
Commercial Portfolio Segment [Member] | Regional Commercial Banking [Member] | ||
Past Due | 0 | 0 |
Loans Not Past Due | 32,388 | 24,853 |
Total Loans | 32,388 | 24,853 |
Commercial Portfolio Segment [Member] | Regional Commercial Banking [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past Due | 0 | 0 |
Commercial Portfolio Segment [Member] | Regional Commercial Banking [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past Due | 0 | 0 |
Commercial Portfolio Segment [Member] | Regional Commercial Banking [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Past Due | 0 | 0 |
Commercial Portfolio Segment [Member] | Health Care Loans [Member] | ||
Past Due | 0 | 0 |
Loans Not Past Due | 12,554 | 70,430 |
Total Loans | 12,554 | 70,430 |
Commercial Portfolio Segment [Member] | Health Care Loans [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past Due | 0 | 0 |
Commercial Portfolio Segment [Member] | Health Care Loans [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past Due | 0 | 0 |
Commercial Portfolio Segment [Member] | Health Care Loans [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Past Due | 0 | 0 |
Commercial Portfolio Segment [Member] | Direct Commercial Lessor [Member] | ||
Past Due | 0 | 0 |
Loans Not Past Due | 81,667 | 50,431 |
Total Loans | 81,667 | 50,431 |
Commercial Portfolio Segment [Member] | Direct Commercial Lessor [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past Due | 0 | 0 |
Commercial Portfolio Segment [Member] | Direct Commercial Lessor [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past Due | 0 | 0 |
Commercial Portfolio Segment [Member] | Direct Commercial Lessor [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Past Due | 0 | 0 |
Finance Leases Portfolio Segment [Member] | Investment Rated Commercial Leases [Member] | ||
Past Due | 509 | 873 |
Loans Not Past Due | 114,123 | 132,966 |
Total Loans | 114,632 | 133,839 |
Finance Leases Portfolio Segment [Member] | Investment Rated Commercial Leases [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past Due | 0 | 826 |
Finance Leases Portfolio Segment [Member] | Investment Rated Commercial Leases [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past Due | 509 | 0 |
Finance Leases Portfolio Segment [Member] | Investment Rated Commercial Leases [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Past Due | 0 | 47 |
Finance Leases Portfolio Segment [Member] | Other [Member] | ||
Past Due | 2,905 | 679 |
Loans Not Past Due | 130,460 | 138,111 |
Total Loans | 133,365 | 138,790 |
Finance Leases Portfolio Segment [Member] | Other [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past Due | 1,936 | 543 |
Finance Leases Portfolio Segment [Member] | Other [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past Due | 136 | 136 |
Finance Leases Portfolio Segment [Member] | Other [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Past Due | 833 | 0 |
Consumer Portfolio Segment [Member] | ||
Past Due | 7 | 61 |
Loans Not Past Due | 1,776 | 2,150 |
Total Loans | 1,783 | 2,211 |
Consumer Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Past Due | 6 | 24 |
Consumer Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Past Due | 1 | 37 |
Consumer Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Past Due | $ 0 | $ 0 |
Note 4 - Loans Receivable - PPP
Note 4 - Loans Receivable - PPP activity (Details) $ in Thousands | Jun. 30, 2020USD ($) | Dec. 31, 2019USD ($) |
Number of loans | 169 | |
Loans receivable, net of allowance for loan losses: June 30, 2020, $8,156 and December 31, 2019, $7,632 | $ 1,081,798 | $ 1,168,008 |
Paycheck Protection Program Loan Origination [Member] | ||
Number of loans | 305 | |
Originated | $ 11,024 | |
Paycheck Protection Program CARES Act [Member] | ||
Number of loans | 300 | |
Originated | ||
Loans receivable, net of allowance for loan losses: June 30, 2020, $8,156 and December 31, 2019, $7,632 | $ 10,907 |
Note 4 - Loans Receivable - COV
Note 4 - Loans Receivable - COVID Loan Forbearance Program (Details) $ in Thousands | Jun. 30, 2020USD ($) |
Number of loans | 169 |
Principal balance | $ 115,418 |
Principal Amount Deferred | $ 1,338 |
COVID 19 [Member] | Standard Forbearance Agreement [Member] | Finance Leases Portfolio Segment [Member] | |
Number of loans | 18 |
Principal balance | $ 5,853 |
Principal Amount Deferred | $ 579 |
Multi-family Mortgage [Member] | COVID 19 [Member] | Small Investment Property Forbearance Agreement [Member] | |
Number of loans | 23 |
Principal balance | $ 7,143 |
Principal Amount Deferred | $ 45 |
Multi-family Mortgage [Member] | COVID 19 [Member] | Standard Forbearance Agreement [Member] | |
Number of loans | 66 |
Principal balance | $ 50,959 |
Principal Amount Deferred | $ 244 |
Nonresidential Real Estate [Member] | COVID 19 [Member] | Small Investment Property Forbearance Agreement [Member] | |
Number of loans | 18 |
Principal balance | $ 7,183 |
Principal Amount Deferred | $ 89 |
Nonresidential Real Estate [Member] | COVID 19 [Member] | Standard Forbearance Agreement [Member] | |
Number of loans | 34 |
Principal balance | $ 42,968 |
Principal Amount Deferred | $ 373 |
One-to-Four Family Residential Real Estate [Member] | COVID 19 [Member] | Standard Forbearance Agreement [Member] | |
Number of loans | 10 |
Principal Amount Deferred | $ 8 |
One To Four Family Residential Real Estate Loans [Member] | COVID 19 [Member] | Standard Forbearance Agreement [Member] | |
Principal balance | $ 1,312 |
Note 4 - Loans Receivable - Ris
Note 4 - Loans Receivable - Risk Categories of Loans By Class of Loans (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Loans receivable | $ 1,089,496 | $ 1,174,728 |
Pass [Member] | ||
Loans receivable | 1,082,443 | 1,163,028 |
Special Mention [Member] | ||
Loans receivable | 707 | 9,847 |
Substandard [Member] | ||
Loans receivable | 4,563 | 1,053 |
Nonaccrual [Member] | ||
Loans receivable | 1,783 | 800 |
Real Estate Portfolio [Member] | One-to-Four Family Residential Real Estate, Owner Occupied [Member] | ||
Loans receivable | 39,610 | 44,989 |
Real Estate Portfolio [Member] | One-to-Four Family Residential Real Estate, Owner Occupied [Member] | Pass [Member] | ||
Loans receivable | 38,402 | 43,908 |
Real Estate Portfolio [Member] | One-to-Four Family Residential Real Estate, Owner Occupied [Member] | Special Mention [Member] | ||
Loans receivable | 79 | 36 |
Real Estate Portfolio [Member] | One-to-Four Family Residential Real Estate, Owner Occupied [Member] | Substandard [Member] | ||
Loans receivable | 467 | 533 |
Real Estate Portfolio [Member] | One-to-Four Family Residential Real Estate, Owner Occupied [Member] | Nonaccrual [Member] | ||
Loans receivable | 662 | 512 |
Real Estate Portfolio [Member] | One-to-Four Family Residential Real Estate, Non-owner Occupied [Member] | ||
Loans receivable | 9,318 | 10,761 |
Real Estate Portfolio [Member] | One-to-Four Family Residential Real Estate, Non-owner Occupied [Member] | Pass [Member] | ||
Loans receivable | 9,255 | 10,696 |
Real Estate Portfolio [Member] | One-to-Four Family Residential Real Estate, Non-owner Occupied [Member] | Special Mention [Member] | ||
Loans receivable | 29 | 30 |
Real Estate Portfolio [Member] | One-to-Four Family Residential Real Estate, Non-owner Occupied [Member] | Substandard [Member] | ||
Loans receivable | 34 | 35 |
Real Estate Portfolio [Member] | One-to-Four Family Residential Real Estate, Non-owner Occupied [Member] | Nonaccrual [Member] | ||
Loans receivable | 0 | 0 |
Real Estate Portfolio [Member] | Multi-family Mortgage [Member] | ||
Loans receivable | 536,619 | 563,750 |
Real Estate Portfolio [Member] | Multi-family Mortgage [Member] | ILLINOIS | ||
Loans receivable | 230,913 | 247,963 |
Real Estate Portfolio [Member] | Multi-family Mortgage [Member] | Other [Member] | ||
Loans receivable | 305,706 | 315,787 |
Real Estate Portfolio [Member] | Multi-family Mortgage [Member] | Pass [Member] | ILLINOIS | ||
Loans receivable | 230,913 | 247,757 |
Real Estate Portfolio [Member] | Multi-family Mortgage [Member] | Pass [Member] | Other [Member] | ||
Loans receivable | 305,706 | 315,787 |
Real Estate Portfolio [Member] | Multi-family Mortgage [Member] | Special Mention [Member] | ILLINOIS | ||
Loans receivable | 0 | 0 |
Real Estate Portfolio [Member] | Multi-family Mortgage [Member] | Special Mention [Member] | Other [Member] | ||
Loans receivable | 0 | 0 |
Real Estate Portfolio [Member] | Multi-family Mortgage [Member] | Substandard [Member] | ILLINOIS | ||
Loans receivable | 0 | 206 |
Real Estate Portfolio [Member] | Multi-family Mortgage [Member] | Substandard [Member] | Other [Member] | ||
Loans receivable | 0 | 0 |
Real Estate Portfolio [Member] | Multi-family Mortgage [Member] | Nonaccrual [Member] | ILLINOIS | ||
Loans receivable | 0 | 0 |
Real Estate Portfolio [Member] | Multi-family Mortgage [Member] | Nonaccrual [Member] | Other [Member] | ||
Loans receivable | 0 | 0 |
Real Estate Portfolio [Member] | Nonresidential Real Estate [Member] | ||
Loans receivable | 127,560 | 134,674 |
Real Estate Portfolio [Member] | Nonresidential Real Estate [Member] | Pass [Member] | ||
Loans receivable | 124,322 | 134,134 |
Real Estate Portfolio [Member] | Nonresidential Real Estate [Member] | Special Mention [Member] | ||
Loans receivable | 160 | 162 |
Real Estate Portfolio [Member] | Nonresidential Real Estate [Member] | Substandard [Member] | ||
Loans receivable | 2,790 | 90 |
Real Estate Portfolio [Member] | Nonresidential Real Estate [Member] | Nonaccrual [Member] | ||
Loans receivable | 288 | 288 |
Commercial Portfolio Segment [Member] | ||
Loans receivable | 126,609 | 145,714 |
Commercial Portfolio Segment [Member] | Regional Commercial Banking [Member] | ||
Loans receivable | 32,388 | 24,853 |
Commercial Portfolio Segment [Member] | Regional Commercial Banking [Member] | Pass [Member] | ||
Loans receivable | 32,388 | 24,853 |
Commercial Portfolio Segment [Member] | Regional Commercial Banking [Member] | Special Mention [Member] | ||
Loans receivable | 0 | 0 |
Commercial Portfolio Segment [Member] | Regional Commercial Banking [Member] | Substandard [Member] | ||
Loans receivable | 0 | 0 |
Commercial Portfolio Segment [Member] | Regional Commercial Banking [Member] | Nonaccrual [Member] | ||
Loans receivable | 0 | 0 |
Commercial Portfolio Segment [Member] | Health Care Loans [Member] | ||
Loans receivable | 12,554 | 70,430 |
Commercial Portfolio Segment [Member] | Health Care Loans [Member] | Pass [Member] | ||
Loans receivable | 12,117 | 62,084 |
Commercial Portfolio Segment [Member] | Health Care Loans [Member] | Special Mention [Member] | ||
Loans receivable | 437 | 8,346 |
Commercial Portfolio Segment [Member] | Health Care Loans [Member] | Substandard [Member] | ||
Loans receivable | 0 | 0 |
Commercial Portfolio Segment [Member] | Health Care Loans [Member] | Nonaccrual [Member] | ||
Loans receivable | 0 | 0 |
Commercial Portfolio Segment [Member] | Direct Commercial Lessor [Member] | ||
Loans receivable | 81,667 | 50,431 |
Commercial Portfolio Segment [Member] | Direct Commercial Lessor [Member] | Pass [Member] | ||
Loans receivable | 81,667 | 50,431 |
Commercial Portfolio Segment [Member] | Direct Commercial Lessor [Member] | Special Mention [Member] | ||
Loans receivable | 0 | 0 |
Commercial Portfolio Segment [Member] | Direct Commercial Lessor [Member] | Substandard [Member] | ||
Loans receivable | 0 | 0 |
Commercial Portfolio Segment [Member] | Direct Commercial Lessor [Member] | Nonaccrual [Member] | ||
Loans receivable | 0 | 0 |
Finance Leases Portfolio Segment [Member] | ||
Loans receivable | 247,997 | 272,629 |
Finance Leases Portfolio Segment [Member] | Investment Rated Commercial Leases [Member] | ||
Loans receivable | 114,632 | 133,839 |
Finance Leases Portfolio Segment [Member] | Investment Rated Commercial Leases [Member] | Pass [Member] | ||
Loans receivable | 114,632 | 133,332 |
Finance Leases Portfolio Segment [Member] | Investment Rated Commercial Leases [Member] | Special Mention [Member] | ||
Loans receivable | 0 | 507 |
Finance Leases Portfolio Segment [Member] | Investment Rated Commercial Leases [Member] | Substandard [Member] | ||
Loans receivable | 0 | 0 |
Finance Leases Portfolio Segment [Member] | Investment Rated Commercial Leases [Member] | Nonaccrual [Member] | ||
Loans receivable | 0 | 0 |
Finance Leases Portfolio Segment [Member] | Other [Member] | ||
Loans receivable | 133,365 | 138,790 |
Finance Leases Portfolio Segment [Member] | Other [Member] | Pass [Member] | ||
Loans receivable | 131,271 | 137,893 |
Finance Leases Portfolio Segment [Member] | Other [Member] | Special Mention [Member] | ||
Loans receivable | 0 | 761 |
Finance Leases Portfolio Segment [Member] | Other [Member] | Substandard [Member] | ||
Loans receivable | 1,261 | 136 |
Finance Leases Portfolio Segment [Member] | Other [Member] | Nonaccrual [Member] | ||
Loans receivable | 833 | 0 |
Consumer Portfolio Segment [Member] | ||
Loans receivable | 1,783 | 2,211 |
Consumer Portfolio Segment [Member] | Pass [Member] | ||
Loans receivable | 1,770 | 2,153 |
Consumer Portfolio Segment [Member] | Special Mention [Member] | ||
Loans receivable | 2 | 5 |
Consumer Portfolio Segment [Member] | Substandard [Member] | ||
Loans receivable | 11 | 53 |
Consumer Portfolio Segment [Member] | Nonaccrual [Member] | ||
Loans receivable | $ 0 | $ 0 |
Note 5 - Other Real Estate Ow_3
Note 5 - Other Real Estate Owned (Details Textual) - USD ($) | Jun. 30, 2020 | Dec. 31, 2019 |
Repossessed Assets, Total | $ 0 | $ 0 |
Mortgage Loans in Process of Foreclosure, Amount | $ 207,000 | $ 237,000 |
Note 5 - Other Real Estate Ow_4
Note 5 - Other Real Estate Owned - Real Estate Acquired Through Foreclosure (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 |
Valuation allowance | $ 0 | $ 0 | $ 0 | $ (21) | $ 0 | $ (23) |
Other real estate owned, net | 143 | $ 110 | 186 | $ 497 | $ 921 | $ 1,226 |
One-to-Four Family Residential Real Estate [Member] | ||||||
Balance | 143 | 186 | ||||
Valuation allowance | 0 | 0 | ||||
Other real estate owned, net | $ 143 | $ 186 |
Note 5 - Other Real Estate Ow_5
Note 5 - Other Real Estate Owned - Roll Forward of OREO (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | Dec. 31, 2019 | |
Beginning balance | $ 110 | $ 921 | $ 186 | $ 1,226 | $ 1,226 |
New foreclosed properties | 33 | 0 | 33 | 46 | |
Valuation adjustments | 0 | (21) | 0 | (21) | 0 |
Sales and other reductions | 0 | (403) | (76) | (754) | |
Ending balance | $ 143 | $ 497 | $ 143 | $ 497 | $ 186 |
Note 5 - Other Real Estate Ow_6
Note 5 - Other Real Estate Owned - Activity in the Valuation Allowance (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Beginning balance | $ 0 | $ 0 | $ 0 | $ 23 |
Additions charged to expense | 0 | 21 | 0 | 21 |
Reductions from sales of OREO | 0 | 0 | 0 | (23) |
Ending balance | $ 0 | $ 21 | $ 0 | $ 21 |
Note 6 - Leases (Details Textua
Note 6 - Leases (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Operating Lease, Right-of-Use Asset, Amortization Expense | $ 221,000 | $ 212,000 | $ 439,000 | $ 424,000 |
Operating Lease, Weighted Average Remaining Lease Term (Year) | 8 years 6 months | 8 years 6 months | ||
Operating Lease, Weighted Average Discount Rate, Percent | 3.13% | 3.13% |
Note 6 - Leases - Classificatio
Note 6 - Leases - Classification of Right of Use and Lease Liabilities (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2020 | Dec. 31, 2019 | |
Gross carrying amount | $ 6,694 | $ 0 |
New lease obligation | 111 | 6,694 |
Accumulated amortization | (1,288) | (848) |
Net carrying value | 5,517 | 5,846 |
Right of use lease obligations | 5,517 | |
Other Liabilities [Member] | ||
Right of use lease obligations | $ 5,517 | $ 5,846 |
Note 6 - Leases - Lease Cost (D
Note 6 - Leases - Lease Cost (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Operating lease cost | $ 221 | $ 212 | $ 439 | $ 424 |
Short-term lease cost | 41 | 29 | 71 | 60 |
Sublease income | (20) | (9) | (38) | (15) |
Total lease cost | 242 | 232 | 472 | 469 |
Operating cash flows from operating leases | $ 238 | $ 225 | $ 471 | $ 449 |
Note 6 - Leases - Future Minimu
Note 6 - Leases - Future Minimum Payments (Details) $ in Thousands | Jun. 30, 2020USD ($) |
2021 | $ 952 |
2022 | 979 |
2023 | 1,007 |
2024 | 705 |
2025 | 504 |
Thereafter | 2,470 |
Total future minimum operating lease payments | 6,617 |
Amounts representing interest | (1,100) |
Present value of net future minimum operating lease payments | $ 5,517 |
Note 7 - Borrowings (Details Te
Note 7 - Borrowings (Details Textual) - USD ($) $ in Thousands | Apr. 01, 2020 | Jun. 30, 2020 | Dec. 31, 2019 |
Pledged Assets Separately Reported, Securities Pledged as Collateral, at Fair Value, Total | $ 1,300 | $ 2,000 | |
Debt, Long-term and Short-term, Combined Amount, Total | $ 61 | ||
Federal Home Loan Bank Advances [Member] | |||
Debt, Long-term and Short-term, Combined Amount, Total | $ 0 | ||
Line of Credit [Member] | Unsecured Debt [Member] | |||
Line of Credit, Current | $ 5,000 | ||
Line of Credit [Member] | Unsecured Debt [Member] | Prime Rate [Member] | |||
Debt Instrument, Basis Spread on Variable Rate | 0.75% |
Note 7 - Borrowings - Advances
Note 7 - Borrowings - Advances from the FHLB (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Fixed-rate advance from FHLB, due within 1 year, contractual rate | 0.00% | 0.00% |
Fixed-rate advance from FHLB, due within 1 year, amount | $ 4,000 | $ 0 |
Note 7 - Borrowings - Securitie
Note 7 - Borrowings - Securities Sold Under Agreements to Repurchase (Details) $ in Thousands | Dec. 31, 2019USD ($) |
Repurchase agreements and repurchase-to-maturity transactions | $ 61 |
Gross amount of recognized liabilities for repurchase agreements in Consolidated Statements of Financial Condition | 61 |
Debt Instrument, Redemption, Period One [Member] | |
Repurchase agreements and repurchase-to-maturity transactions | 61 |
Debt Instrument, Redemption, Period Two [Member] | |
Repurchase agreements and repurchase-to-maturity transactions | 0 |
Debt Instrument, Redemption, Period Three [Member] | |
Repurchase agreements and repurchase-to-maturity transactions | 0 |
Debt Instrument, Redemption, Period Four [Member] | |
Repurchase agreements and repurchase-to-maturity transactions | $ 0 |
Note 8 - Fair Value (Details Te
Note 8 - Fair Value (Details Textual) Pure in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2020USD ($) | Jun. 30, 2019USD ($) | Jun. 30, 2020USD ($) | Jun. 30, 2019USD ($) | Dec. 31, 2019USD ($) | |
Number of Loans Measured for Impairment Using Fair Value of Collateral | 0 | 0 | 0 | ||
Other Real Estate, Valuation Adjustments | $ 0 | $ 21 | $ 0 | $ 21 | $ 0 |
Note 8 - Fair Value - Financial
Note 8 - Fair Value - Financial Assets At Fair Value (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Securities | $ 59,437 | $ 60,193 |
Certificates of Deposit [Member] | ||
Securities | 49,288 | 48,666 |
US States and Political Subdivisions Debt Securities [Member] | ||
Securities | 514 | 513 |
Residential Mortgage Backed Securities [Member] | ||
Securities | 6,983 | 8,037 |
Collateralized Mortgage Backed Securities [Member] | ||
Securities | 2,652 | 2,977 |
Fair Value, Inputs, Level 1 [Member] | ||
Securities | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Certificates of Deposit [Member] | ||
Securities | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Securities | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Residential Mortgage Backed Securities [Member] | ||
Securities | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Collateralized Mortgage Backed Securities [Member] | ||
Securities | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ||
Securities | 59,437 | 60,193 |
Fair Value, Inputs, Level 2 [Member] | Certificates of Deposit [Member] | ||
Securities | 49,288 | 48,666 |
Fair Value, Inputs, Level 2 [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Securities | 514 | 513 |
Fair Value, Inputs, Level 2 [Member] | Residential Mortgage Backed Securities [Member] | ||
Securities | 6,983 | 8,037 |
Fair Value, Inputs, Level 2 [Member] | Collateralized Mortgage Backed Securities [Member] | ||
Securities | 2,652 | 2,977 |
Fair Value, Inputs, Level 3 [Member] | ||
Securities | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Certificates of Deposit [Member] | ||
Securities | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Securities | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Residential Mortgage Backed Securities [Member] | ||
Securities | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Collateralized Mortgage Backed Securities [Member] | ||
Securities | $ 0 | $ 0 |
Note 8 - Fair Value - Carrying
Note 8 - Fair Value - Carrying Amount and Estimated Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Securities | $ 59,437 | $ 60,193 |
Fair Value, Inputs, Level 1 [Member] | ||
Securities | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ||
Securities | 59,437 | 60,193 |
Fair Value, Inputs, Level 3 [Member] | ||
Securities | 0 | 0 |
Reported Value Measurement [Member] | ||
Cash and cash equivalents | 384,765 | 190,325 |
Securities | 59,437 | 60,193 |
Loans receivable, net of allowance for loan losses | 1,081,798 | 1,168,008 |
FHLB and FRB stock | 7,490 | 7,490 |
Accrued interest receivable | 4,447 | 4,563 |
Certificates of deposit | 340,717 | 402,034 |
Borrowings | 4,000 | 61 |
Estimate of Fair Value Measurement [Member] | ||
Cash and cash equivalents | 384,765 | 190,325 |
Securities | 59,437 | 60,193 |
Loans receivable, net of allowance for loan losses | 1,089,464 | 1,177,459 |
Accrued interest receivable | 4,447 | 4,563 |
Certificates of deposit | 343,032 | 402,914 |
Borrowings | 3,994 | 61 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Cash and cash equivalents | 13,826 | 9,785 |
Securities | 0 | 0 |
Loans receivable, net of allowance for loan losses | 0 | 0 |
FHLB and FRB stock | 0 | 0 |
Accrued interest receivable | 0 | 0 |
Certificates of deposit | 0 | 0 |
Borrowings | 0 | 0 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Cash and cash equivalents | 370,939 | 180,540 |
Securities | 59,437 | 60,193 |
Loans receivable, net of allowance for loan losses | 0 | 0 |
FHLB and FRB stock | 0 | 0 |
Accrued interest receivable | 102 | 252 |
Certificates of deposit | 343,032 | 402,914 |
Borrowings | 3,994 | 61 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Cash and cash equivalents | 0 | 0 |
Securities | 0 | 0 |
Loans receivable, net of allowance for loan losses | 1,089,464 | 1,177,459 |
FHLB and FRB stock | 0 | 0 |
Accrued interest receivable | 4,345 | 4,311 |
Certificates of deposit | 0 | 0 |
Borrowings | $ 0 | $ 0 |
Note 9 - Revenue from Contrac_3
Note 9 - Revenue from Contracts with Customers (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Revenue from Contract with Customer, Excluding Assessed Tax, Total | $ 736,000 | $ 974,000 | $ 1,623,000 | $ 1,904,000 |
Credit and Debit Card [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax, Total | $ 343,000 | $ 401,000 | $ 694,000 | $ 762,000 |
Note 9 - Revenues from Contract
Note 9 - Revenues from Contracts with Customers - Noninterest Income (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | ||
Deposit service charges and fees | $ 736 | $ 974 | $ 1,623 | $ 1,904 | |
Loan servicing fees | [1] | 82 | 56 | 145 | 79 |
Mortgage brokerage and banking fees | [1] | 11 | 21 | 40 | 49 |
Gain on sale of equity securities | [1] | 0 | 0 | 0 | 295 |
Loss on disposal of other assets | 0 | 0 | (2) | (19) | |
Earnings on bank-owned life insurance | [1] | 9 | 38 | 41 | 68 |
Other | [1] | 101 | 113 | 208 | 245 |
Total noninterest income | 1,163 | 1,426 | 2,561 | 3,050 | |
Deposit Account [Member] | |||||
Deposit service charges and fees | 736 | 974 | 1,623 | 1,904 | |
Bank Servicing [Member] | |||||
Deposit service charges and fees | $ 224 | $ 224 | $ 506 | $ 429 | |
[1] | Not within the scope of ASC 606 |