Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Jun. 30, 2015 | Aug. 03, 2015 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Jun. 30, 2015 | |
Document Fiscal Year Focus | 2,015 | |
Document Fiscal Period Focus | Q3 | |
Trading Symbol | ESSA | |
Entity Registrant Name | ESSA Bancorp, Inc. | |
Entity Central Index Key | 1,382,230 | |
Current Fiscal Year End Date | --09-30 | |
Entity Filer Category | Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 11,412,821 |
Consolidated Balance Sheet
Consolidated Balance Sheet - USD ($) $ in Thousands | Jun. 30, 2015 | Sep. 30, 2014 |
Statement of Financial Position [Abstract] | ||
Cash and due from banks | $ 16,017 | $ 20,884 |
Interest-bearing deposits with other institutions | 1,675 | 1,417 |
Total cash and cash equivalents | 17,692 | 22,301 |
Certificates of deposit | 1,750 | 1,767 |
Investment securities available for sale, at fair value | 381,375 | 383,078 |
Loans receivable (net of allowance for loan losses of $8,767 and $8,634) | 1,092,527 | 1,058,267 |
Regulatory stock, at cost | 14,537 | 14,284 |
Premises and equipment, net | 16,655 | 16,957 |
Bank-owned life insurance | 30,421 | 29,720 |
Foreclosed real estate | 2,595 | 2,759 |
Intangible assets, net | 1,910 | 2,396 |
Goodwill | 10,259 | 10,259 |
Deferred income taxes | 11,045 | 12,027 |
Other assets | 18,058 | 21,000 |
TOTAL ASSETS | 1,598,824 | 1,574,815 |
LIABILITIES | ||
Deposits | 1,075,553 | 1,133,889 |
Short-term borrowings | 120,856 | 108,020 |
Other borrowings | 208,805 | 151,300 |
Advances by borrowers for taxes and insurance | 11,617 | 4,093 |
Other liabilities | 10,666 | 10,204 |
TOTAL LIABILITIES | $ 1,427,497 | $ 1,407,506 |
STOCKHOLDERS' EQUITY | ||
Preferred Stock ($.01 par value; 10,000,000 shares authorized, none issued) | ||
Common stock ($.01 par value; 40,000,000 shares authorized, 18,133,095 issued; 11,419,321 and 11,590,378 outstanding at June 30, 2015 and September 30, 2014) | $ 181 | $ 181 |
Additional paid in capital | 182,358 | 182,486 |
Unallocated common stock held by the Employee Stock Ownership Plan (ESOP) | (9,740) | (10,079) |
Retained earnings | 82,289 | 77,413 |
Treasury stock, at cost; 6,713,774 and 6,542,717 shares outstanding at June 30, 2015 and September 30, 2014, respectively | (82,105) | (80,113) |
Accumulated other comprehensive loss | (1,656) | (2,579) |
TOTAL STOCKHOLDERS' EQUITY | 171,327 | 167,309 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ 1,598,824 | $ 1,574,815 |
Consolidated Balance Sheet (Par
Consolidated Balance Sheet (Parenthetical) - USD ($) $ in Thousands | Jun. 30, 2015 | Sep. 30, 2014 |
Statement of Financial Position [Abstract] | ||
Allowance for loan losses | $ 8,767 | $ 8,634 |
Preferred stock, par value | $ 0.01 | $ 0.01 |
Preferred stock, shares authorized | 10,000,000 | 10,000,000 |
Preferred stock, shares issued | 0 | 0 |
Common stock, par value | $ 0.01 | $ 0.01 |
Common stock, shares authorized | 40,000,000 | 40,000,000 |
Common stock, shares issued | 18,133,095 | 18,133,095 |
Common stock, shares outstanding | 11,419,321 | 11,590,378 |
Treasury stock, shares outstanding | 6,713,774 | 6,542,717 |
Consolidated Statement of Incom
Consolidated Statement of Income - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
INTEREST INCOME | ||||
Loans receivable, including fees | $ 11,398 | $ 11,807 | $ 33,947 | $ 32,173 |
Investment securities: | ||||
Taxable | 1,741 | 1,632 | 5,429 | 4,682 |
Exempt from federal income tax | 248 | 173 | 721 | 318 |
Other investment income | 181 | 173 | 759 | 317 |
Total interest income | 13,568 | 13,785 | 40,856 | 37,490 |
INTEREST EXPENSE | ||||
Deposits | 1,800 | 2,015 | 5,643 | 5,909 |
Short-term borrowings | 118 | 54 | 324 | 104 |
Other borrowings | 639 | 619 | 1,826 | 1,951 |
Total interest expense | 2,557 | 2,688 | 7,793 | 7,964 |
NET INTEREST INCOME | 11,011 | 11,097 | 33,063 | 29,526 |
Provision for loan losses | 525 | 500 | 1,500 | 2,000 |
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES | 10,486 | 10,597 | 31,563 | 27,526 |
NONINTEREST INCOME | ||||
Service fees on deposit accounts | 842 | 828 | 2,426 | 2,342 |
Services charges and fees on loans | 274 | 283 | 863 | 572 |
Trust and investment fees | 218 | 260 | 660 | 701 |
Gain/(loss) on sale of investments, net | 194 | (10) | 398 | 226 |
Earnings on Bank-owned life insurance | 231 | 234 | 701 | 687 |
Insurance commissions | 183 | 205 | 582 | 625 |
Gain on acquisition | 241 | 241 | ||
Other | 6 | 59 | 33 | 85 |
Total noninterest income | 1,948 | 2,100 | 5,663 | 5,479 |
NONINTEREST EXPENSE | ||||
Compensation and employee benefits | 5,213 | 4,912 | 15,559 | 13,577 |
Occupancy and equipment | 996 | 1,051 | 3,111 | 3,034 |
Professional fees | 517 | 441 | 1,438 | 1,348 |
Data processing | 861 | 977 | 2,566 | 2,426 |
Advertising | 373 | 243 | 725 | 463 |
Federal Deposit Insurance Corporation (FDIC) premiums | 269 | 266 | 850 | 730 |
(Gain)/loss on foreclosed real estate | 8 | (65) | (167) | (116) |
Merger related costs | 176 | 522 | ||
Amortization of intangible assets | 157 | 282 | 486 | 756 |
Other | 965 | 812 | 2,855 | 1,987 |
Total noninterest expense | 9,359 | 9,095 | 27,423 | 24,727 |
Income before income taxes | 3,075 | 3,602 | 9,803 | 8,278 |
Income taxes | 618 | 976 | 2,318 | 2,146 |
NET INCOME | $ 2,457 | $ 2,626 | $ 7,485 | $ 6,132 |
Earnings per share | ||||
Basic | $ 0.24 | $ 0.24 | $ 0.72 | $ 0.56 |
Diluted | 0.23 | 0.24 | 0.71 | 0.56 |
Dividends per share | $ 0.09 | $ 0.07 | $ 0.25 | $ 0.19 |
Consolidated Statement of Compr
Consolidated Statement of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Statement of Comprehensive Income [Abstract] | ||||
Net income | $ 2,457 | $ 2,626 | $ 7,485 | $ 6,132 |
Investment securities available for sale: | ||||
Unrealized holding gain (loss) | (3,496) | 3,281 | 1,616 | 2,578 |
Tax effect | 1,188 | (1,116) | (549) | (877) |
Reclassification of (gains) losses recognized in net income | (194) | 10 | (398) | (226) |
Tax effect | 66 | (3) | 135 | 77 |
Net of tax amount | (2,436) | 2,172 | 804 | 1,552 |
Pension plan adjustment: | ||||
Related to actuarial losses and prior service cost | 61 | 7 | 181 | 21 |
Tax effect | (22) | (2) | (62) | (7) |
Net of tax amount | 39 | 5 | 119 | 14 |
Total other comprehensive income (loss) | (2,397) | 2,177 | 923 | 1,566 |
Comprehensive income | $ 60 | $ 4,803 | $ 8,408 | $ 7,698 |
Consolidated Statement of Chang
Consolidated Statement of Changes in Stockholders' Equity - 9 months ended Jun. 30, 2015 - USD ($) $ in Thousands | Total | Common Stock [Member] | Additional Paid-In Capital [Member] | Unallocated Common Stock Held by the ESOP [Member] | Retained Earnings [Member] | Treasury Stock [Member] | Accumulated Other Comprehensive Income (Loss) [Member] |
Beginning Balance at Sep. 30, 2014 | $ 167,309 | $ 181 | $ 182,486 | $ (10,079) | $ 77,413 | $ (80,113) | $ (2,579) |
Beginning Balance, Shares at Sep. 30, 2014 | 11,590,378 | 11,590,378 | |||||
Net income | $ 7,485 | 7,485 | |||||
Other comprehensive income | 923 | 923 | |||||
Cash dividends declared | (2,609) | (2,609) | |||||
Stock based compensation | 81 | 81 | |||||
Allocation of ESOP stock | 415 | 76 | 339 | ||||
Allocation of treasury shares to incentive plan | (285) | 285 | |||||
Treasury shares purchased | (2,277) | (2,277) | |||||
Treasury shares purchased, Shares | (171,057) | ||||||
Ending Balance at Jun. 30, 2015 | $ 171,327 | $ 181 | $ 182,358 | $ (9,740) | $ 82,289 | $ (82,105) | $ (1,656) |
Ending Balance, Shares at Jun. 30, 2015 | 11,419,321 | 11,419,321 |
Consolidated Statement of Chan7
Consolidated Statement of Changes in Stockholders' Equity (Parenthetical) - $ / shares | 3 Months Ended | 9 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Statement of Stockholders' Equity [Abstract] | ||||
Cash dividends declared, per share | $ 0.09 | $ 0.07 | $ 0.25 | $ 0.19 |
Consolidated Statement of Cash
Consolidated Statement of Cash Flows - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |
Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
OPERATING ACTIVITIES | |||
Net income | $ 2,626 | $ 7,485 | $ 6,132 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Provision for loan losses | 500 | 1,500 | 2,000 |
Provision for depreciation and amortization | 980 | 948 | |
Amortization and accretion of discounts and premiums, net | 322 | 829 | |
Net gain on sale of investment securities | 10 | (398) | (226) |
Compensation expense on ESOP | 415 | 371 | |
Stock based compensation | 81 | 170 | |
Increase in accrued interest receivable | (54) | (629) | |
Increase in accrued interest payable | 99 | 202 | |
Earnings on bank-owned life insurance | (234) | (701) | (687) |
Deferred federal income taxes | (507) | (738) | |
Gain on foreclosed real estate, net | (167) | (116) | |
Amortization of identifiable intangible assets | 282 | 486 | 756 |
Other, net | 4,478 | 1,701 | |
Net cash provided by operating activities | 14,019 | 10,713 | |
INVESTING ACTIVITIES | |||
Maturities of certificates of deposit | 17 | ||
Investment securities available for sale: | |||
Proceeds from sale of investment securities | 5,904 | 8,065 | |
Proceeds from principal repayments and maturities | 46,953 | 27,863 | |
Purchases | (50,532) | (37,720) | |
(Increase) decrease in loans receivable, net | (37,329) | 27,025 | |
Redemption of regulatory stock | 11,660 | 2,431 | |
Purchase of regulatory stock | (11,913) | (4,204) | |
Proceeds from sale of foreclosed real estate | 2,543 | 2,038 | |
Acquisition, including cash acquired | (15,415) | ||
Capital improvements to foreclosed real estate | 30 | ||
Purchase of premises, equipment, and software | (604) | (498) | |
Net cash (used for) provided by investing activities | (33,271) | 9,585 | |
FINANCING ACTIVITIES | |||
Decrease in deposits, net | (58,336) | (68,902) | |
Net increase in short-term borrowings | 12,836 | 55,749 | |
Proceeds from other borrowings | 66,705 | 42,500 | |
Repayment of other borrowings | (9,200) | (56,387) | |
Increase in advances by borrowers for taxes and insurance | 7,524 | 6,962 | |
Purchase of treasury stock shares | (2,277) | (1,328) | |
Dividends on common stock | (2,609) | (2,060) | |
Net cash provided by (used for) financing activities | 14,643 | (23,466) | |
Decrease in cash and cash equivalents | (4,609) | (3,168) | |
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD | 22,301 | 26,648 | |
CASH AND CASH EQUIVALENTS AT END OF PERIOD | 23,480 | 17,692 | 23,480 |
Cash Paid: | |||
Interest | 7,694 | 7,762 | |
Income taxes | 250 | 2 | |
Noncash items: | |||
Transfers from loans to foreclosed real estate | $ 2,242 | 2,342 | |
Acquisition of FNCB: | |||
Cash received | 4,640 | ||
Noncash assets acquired | |||
Loans receivable and accrued interest receivable | 1,033 | ||
Premises and equipment | 1,626 | ||
Goodwill | 1,442 | ||
Total non cash assets | 4,101 | ||
Liabilities assumed: | |||
Certificates of deposit | 3,069 | 3,069 | |
Deposits other than certificates of deposit | 5,683 | 5,683 | |
Total liabilities | 8,752 | ||
Net noncash assets acquired | (4,651) | ||
Cash acquired | 11 | ||
Franklin Security Bank [Member] | |||
Noncash assets acquired | |||
Investment securities, available for sale | 55,901 | 55,901 | |
Loans receivable | 152,188 | 152,188 | |
Federal Home Loan Bank stock | 1,569 | ||
Premises and equipment | 176 | ||
Foreclosed real estate | 436 | 436 | |
Intangible assets, net | 889 | ||
Deferred income taxes | 1,031 | ||
Other assets | 2,504 | ||
Total assets acquired | 214,694 | ||
Liabilities assumed: | |||
Certificates of deposit | 90,869 | 90,869 | |
Deposits other than certificates of deposit | $ 71,317 | 71,317 | |
Other borrowings | 30,177 | ||
Other liabilities | 2,265 | ||
Total liabilities | 194,628 | ||
Net noncash assets acquired | 20,066 | ||
Cash acquired | $ (19,825) |
Nature of Operations and Basis
Nature of Operations and Basis of Presentation | 9 Months Ended |
Jun. 30, 2015 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Nature of Operations and Basis of Presentation | 1. Nature of Operations and Basis of Presentation The consolidated financial statements include the accounts of ESSA Bancorp, Inc. (the “Company”), its wholly owned subsidiary, ESSA Bank & Trust (the “Bank”), and the Bank’s wholly owned subsidiaries, ESSACOR Inc.; Pocono Investments Company; ESSA Advisory Services, LLC; Integrated Financial Corporation; and Integrated Abstract Incorporated, a wholly owned subsidiary of Integrated Financial Corporation. The primary purpose of the Company is to act as a holding company for the Bank. On November 6, 2014, the Company converted its status from a savings and loan holding company to a bank holding company. In addition, the Bank converted from a Pennsylvania-chartered savings association to a Pennsylvania-chartered savings bank. The Bank’s primary business consists of the taking of deposits and granting of loans to customers generally in Monroe, Northampton, Lehigh, Lackawanna, and Luzerne Counties, Pennsylvania. The Bank is subject to regulation and supervision by the Pennsylvania Department of Banking and Securities and the Federal Deposit Insurance Corporation. The investment in subsidiary on the parent company’s financial statements is carried at the parent company’s equity in the underlying net assets. ESSACOR, Inc. is a Pennsylvania corporation that has been used to purchase properties at tax sales that represent collateral for delinquent loans of the Bank. Pocono Investment Company is a Delaware corporation formed as an investment company subsidiary to hold and manage certain investments, including certain intellectual property. ESSA Advisory Services, LLC is a Pennsylvania limited liability company owned 100 percent by ESSA Bank & Trust. ESSA Advisory Services, LLC is a full-service insurance benefits consulting company offering group services such as health insurance, life insurance, short-term and long-term disability, dental, vision, and 401(k) retirement planning as well as individual health products. Integrated Financial Corporation is a Pennsylvania Corporation that provided investment advisory services to the general public and is currently inactive. Integrated Abstract Incorporated is a Pennsylvania Corporation that provided title insurance services and is currently inactive. All significant intercompany accounts and transactions have been eliminated in consolidation. The unaudited consolidated financial statements reflect all adjustments, which in the opinion of management, are necessary for a fair presentation of the results of the interim periods and are of a normal and recurring nature. Operating results for the nine month period ended June 30, 2015 are not necessarily indicative of the results that may be expected for the year ending September 30, 2015. |
Earnings per Share
Earnings per Share | 9 Months Ended |
Jun. 30, 2015 | |
Earnings Per Share [Abstract] | |
Earnings per Share | 2. Earnings per Share The following table sets forth the composition of the weighted-average common shares (denominator) used in the basic and diluted earnings per share computation for the three and nine month periods ended June 30, 2015 and 2014. Three months ended Nine months ended June 30, June 30, June 30, June 30, Weighted-average common shares outstanding 18,133,095 18,133,095 18,133,095 18,133,095 Average treasury stock shares (6,709,111 ) (6,272,961 ) (6,671,091 ) (6,233,349 ) Average unearned ESOP shares (967,514 ) (1,012,790 ) (978,875 ) (1,024,151 ) Average unearned non-vested shares (25,008 ) (9,752 ) (19,045 ) (11,233 ) Weighted average common shares and common stock equivalents used to calculate basic earnings per share 10,431,462 10,837,592 10,464,084 10,864,362 Additional common stock equivalents (non-vested stock) used to calculate diluted earnings per share 627 — — — Additional common stock equivalents (stock options) used to calculate diluted earnings per share 133,034 — 69,620 — Weighted average common shares and common stock equivalents used to calculate diluted earnings per share 10,565,123 10,837,592 10,533,704 10,864,362 At June 30, 2015 and 2014 there were options to purchase 317,910 shares of common stock outstanding at a price of $12.35 per share that were not included in the computation of diluted EPS because to do so would have been anti-dilutive. At June 30, 2015 and 2014 there were 35,057 and 4,440 shares, respectively, of nonvested stock outstanding at prices of $12.27 and $10.94 per share, respectively that were not included in the computation of diluted EPS because to do so would have been anti-dilutive. |
Use of Estimates in the Prepara
Use of Estimates in the Preparation of Financial Statements | 9 Months Ended |
Jun. 30, 2015 | |
Text Block [Abstract] | |
Use of Estimates in the Preparation of Financial Statements | 3. Use of Estimates in the Preparation of Financial Statements The accounting principles followed by the Company and its subsidiaries and the methods of applying these principles conform to U.S. generally accepted accounting principles (“GAAP”) and to general practice within the banking industry. In preparing the consolidated financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the Consolidated Balance Sheet date and related revenues and expenses for the period. Actual results could differ significantly from those estimates. |
Recent Accounting Pronouncement
Recent Accounting Pronouncements | 9 Months Ended |
Jun. 30, 2015 | |
Accounting Changes and Error Corrections [Abstract] | |
Recent Accounting Pronouncements | 4. Recent Accounting Pronouncements: Recent Accounting Pronouncements: In January 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-01, Investments – Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Qualified Affordable Housing Projects. In January 2014, the FASB issued ASU 2014-04, Receivables – Troubled Debt Restructurings by Creditors (Subtopic 310-40): Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure. . In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers In June 2014, the FASB issued ASU 2014-11, Transfers and Servicing (Topic 860): Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures In June 2014, the FASB issued ASU 2014-12, Compensation-Stock Compensation (Topic 718): Accounting for Share-Based Payments when the Terms of an Award Provide that a Performance Target Could Be Achieved After the Requisite Service Period In August 2014, the FASB issued ASU 2014-14, Receivables – Troubled Debt Restructurings by Creditors (Subtopic 310-40) In August 2014, the FASB issued ASU 2014-15, Presentation of Financial Statements -Going Concern (Subtopic In November 2014, the FASB issued ASU 2014-16, Derivatives and Hedging (Topic 815): Determining Whether the Host Contract in a Hybrid Financial Instrument Issued in the Form of a Share Is More Akin to Debt or to Equity (a consensus of the FASB Emerging Issues Task Force). In January 2015, the FASB issued ASU 2015-01, Income Statement –Extraordinary and Unusual Items, In February 2015, the FASB issued ASU 2015-02, Consolidation (Topic 810) In April 2015, the FASB issued ASU 2015-03, Interest-Imputation of Interest (Subtopic 835-30) In April 2015, the FASB issued ASU 2015-04, Compensation-Retirement Benefits (Topic 715), In April 2015, the FASB issued ASU 2015-05, Intangible – Goodwill and Other Internal Use Software (Topic 350-40) In May 2015, the FASB issued ASU 2015-08 , Business Combinations - Pushdown Accounting - Amendment to SEC Paragraphs Pursuant to Staff Accounting Bulletin No. 115 In May 2015, the FASB issued ASU 2015-09, Financial Services-Insurance (Topic 944) - Disclosure about Short-Duration Contracts Financial Services-Insurance In June 2015, the FASB issued ASU 2015-10, Technical Corrections and Improvements |
Investment Securities
Investment Securities | 9 Months Ended |
Jun. 30, 2015 | |
Investments, Debt and Equity Securities [Abstract] | |
Investment Securities | 5. Investment Securities The amortized cost, gross unrealized gains and losses, and fair value of investment securities available for sale are summarized as follows (in thousands): June 30, 2015 Amortized Gross Gross Fair Value Available for Sale Fannie Mae $ 134,184 $ 1,470 $ (913 ) $ 134,741 Freddie Mac 92,368 738 (562 ) 92,544 Governmental National Mortgage Association 16,534 106 (77 ) 16,563 Other mortgage-backed securities 2,663 — (12 ) 2,651 Total mortgage-backed securities 245,749 2,314 (1,564 ) 246,499 Obligations of states and political subdivisions 48,887 1,293 (376 ) 49,804 U.S. government agency securities 44,246 280 (14 ) 44,512 Corporate obligations 21,493 142 (236 ) 21,399 Trust-preferred securities 3,194 277 — 3,471 Other debt securities 15,579 122 (36 ) 15,665 Total debt securities 379,148 4,428 (2,226 ) 381,350 Equity securities - financial services 25 — — 25 Total $ 379,173 $ 4,428 $ (2,226 ) $ 381,375 September 30, 2014 Amortized Gross Gross Fair Value Available for Sale Fannie Mae $ 144,291 $ 1,327 $ (1,550 ) $ 144,068 Freddie Mac 99,556 548 (1,277 ) 98,827 Governmental National Mortgage Association 19,446 92 (161 ) 19,377 Other mortgage-backed securities 2,795 — (15 ) 2,780 Total mortgage-backed securities 266,088 1,967 (3,003 ) 265,052 Obligations of states and political subdivisions 41,375 1,654 (258 ) 42,771 U.S. government agency securities 47,821 192 (383 ) 47,630 Corporate obligations 13,140 236 (48 ) 13,328 Trust-preferred securities 5,027 594 — 5,621 Other debt securities 6,618 51 (18 ) 6,651 Total debt securities 380,069 4,694 (3,710 ) 381,053 Equity securities - financial services 2,025 — — 2,025 Total $ 382,094 $ 4,694 $ (3,710 ) $ 383,078 The amortized cost and fair value of debt securities at June 30, 2015, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties (in thousands): Available For Sale Amortized Fair Value Due in one year or less $ 6,506 $ 6,516 Due after one year through five years 49,366 49,771 Due after five years through ten years 64,198 64,601 Due after ten years 259,078 260,462 Total $ 379,148 $ 381,350 For the three months ended June 30, 2015, the Company realized gross gains of $194,000 and no gross losses on proceeds from the sale of investment securities of $2.6 million. For the nine months ended June 30, 2015, the Company realized gross gains of $398,000 and no gross losses on proceeds from the sale of investment securities of $5.9 million. For the three months ended June 30, 2014, the Company realized gross losses of $10,000 on proceeds from the sale of investment securities of $100. For the nine months ended June 30, 2014, the Company realized gross gains of $247,000 and gross losses of $21,000 on proceeds from the sale of investment securities of $8.1 million. |
Unrealized Losses on Securities
Unrealized Losses on Securities | 9 Months Ended |
Jun. 30, 2015 | |
Text Block [Abstract] | |
Unrealized Losses on Securities | 6. Unrealized Losses on Securities The following table shows the Company’s gross unrealized losses and fair value, aggregated by investment category and length of time that the individual securities have been in a continuous unrealized loss position (dollars in thousands): June 30, 2015 Number of Less than Twelve Twelve Months or Total Fair Gross Fair Gross Fair Value Gross Fannie Mae 26 $ 15,652 $ (129 ) $ 24,511 $ (784 ) $ 40,163 $ (913 ) Freddie Mac 21 15,946 (101 ) 16,010 (461 ) 31,956 (562 ) Governmental National Mortgage Association 4 1,244 (7 ) 2,399 (70 ) 3,643 (77 ) Other mortgage-backed securities 3 — — 2,651 (12 ) 2,651 (12 ) Obligations of states and political subdivisions 14 9,172 (195 ) 4,581 (181 ) 13,753 (376 ) U.S. government agency securities 4 7,986 (13 ) 1,000 (1 ) 8,986 (14 ) Corporate obligations 10 9,906 (214 ) 979 (22 ) 10,885 (236 ) Other debt securities 7 6,097 (27) 1,801 (9) 7,898 (36) Total 89 66,003 (686 ) 53,932 (1,540 ) 119,935 (2,226 ) September 30, 2014 Number of Securities Less than Twelve Twelve Months or Total Fair Gross Fair Gross Fair Value Gross Fannie Mae 39 $ 34,377 $ (164 ) $ 33,249 $ (1,386 ) $ 67,626 $ (1,550 ) Freddie Mac 36 38,210 (216 ) 29,269 (1,061 ) 67,479 (1,277 ) Governmental National Mortgage Association 5 4,127 (22 ) 2,981 (139 ) 7,108 (161 ) Other mortgage-backed securities 3 — — 2,780 (15 ) 2,780 (15 ) Obligations of states and political subdivisions 5 — — 7,207 (258 ) 7,207 (258 ) U.S. government agency securities 11 8,004 (25 ) 18,629 (358 ) 26,633 (383 ) Corporate obligations 5 3,142 (32 ) 1,130 (16 ) 4,272 (48 ) Other debt securities 2 1,980 (18 ) — — 1,980 (18 ) Total 106 $ 89,840 $ (477 ) $ 95,245 $ (3,233 ) $ 185,085 $ (3,710 ) The Company’s investment securities portfolio contains unrealized losses on securities, including mortgage-related instruments issued or backed by the full faith and credit of the United States government, or generally viewed as having the implied guarantee of the U.S. government, other mortgage backed securities, debt obligations of a U.S. state or political subdivision, corporate debt obligations and equity securities. The Company reviews its position quarterly and has asserted that at June 30, 2015, the declines outlined in the above table represent temporary declines and the Company would not be required to sell the security before its anticipated recovery in market value. The Company has concluded that any impairment of its investment securities portfolio is not other than temporary but is the result of interest rate changes that are not expected to result in the non-collection of principal and interest during the period. |
Loans Receivable, Net and Allow
Loans Receivable, Net and Allowance for Loan Losses | 9 Months Ended |
Jun. 30, 2015 | |
Receivables [Abstract] | |
Loans Receivable, Net and Allowance for Loan Losses | 7. Loans Receivable, Net and Allowance for Loan Losses Loans receivable consist of the following (in thousands): June 30, September 30, Real estate loans: Residential $ 618,198 $ 654,152 Construction 1,151 1,367 Commercial 195,503 190,536 Commercial 35,035 25,807 Obligations of states and political subdivisions 56,868 49,177 Home equity loans and lines of credit 40,975 41,387 Auto Loans 150,370 100,571 Other 3,194 3,904 1,101,294 1,066,901 Less allowance for loan losses 8,767 8,634 Net loans $ 1,092,527 $ 1,058,267 Total Loans Individually Evaluated for Impairment Loans Acquired with Deteriorated Credit Quality Collectively Evaluated for Impairment June 30, 2015 Real estate loans: Residential $ 618,198 $ 12,671 $ — $ 605,527 Construction 1,151 — — 1,151 Commercial 195,503 15,627 4,365 175,511 Commercial 35,035 219 74 34,742 Obligations of states and political subdivisions 56,868 — — 56,868 Home equity loans and lines of credit 40,975 607 — 40,368 Auto loans 150,370 340 — 150,030 Other 3,194 — — 3,194 Total $ 1,101,294 $ 29,464 $ 4,439 $ 1,067,391 Total Loans Individually Evaluated for Impairment Loans Acquired with Deteriorated Credit Quality Collectively Evaluated for Impairment September 30, 2014 Real estate loans: Residential $ 654,152 $ 13,528 $ 110 $ 640,514 Construction 1,367 — — 1,367 Commercial 190,536 17,517 4,727 168,292 Commercial 25,807 456 263 25,088 Obligations of states and political subdivisions 49,177 — — 49,177 Home equity loans and lines of credit 41,387 266 (3 ) 41,124 Auto loans 100,571 101 — 100,470 Other 3,904 — — 3,904 Total $ 1,066,901 $ 31,868 $ 5,097 $ 1,029,936 We maintain a loan review system that allows for a periodic review of our loan portfolio and the early identification of potential impaired loans. Such system takes into consideration, among other things, delinquency status, size of loans, type and market value of collateral and financial condition of the borrowers. Specific loan loss allowances are established for identified losses based on a review of such information. A loan evaluated for impairment is considered to be impaired when, based on current information and events, it is probable that we will be unable to collect all amounts due according to the contractual terms of the loan agreement. All loans identified as impaired are evaluated independently. We do not aggregate such loans for evaluation purposes. Impairment is measured on a loan-by-loan basis for commercial and construction loans by the present value of expected future cash flows discounted at the loan’s effective interest rate, the loan’s obtainable market price, or the fair value of the collateral if the loan is collateral-dependent. Large groups of smaller balance homogeneous loans are collectively evaluated for impairment. Accordingly, the Company does not separately identify individual consumer and residential mortgage loans for impairment disclosures, unless such loans are part of a larger relationship that is impaired, or are classified as a troubled debt restructuring. A loan is considered to be a troubled debt restructuring (“TDR”) loan when the Company grants a concession to the borrower because of the borrower’s financial condition that it would not otherwise consider. Such concessions include the reduction of interest rates, forgiveness of principal or interest, or other modifications of interest rates that are less than the current market rate for new obligations with similar risk. TDR loans that are in compliance with their modified terms and that yield a market rate may be removed from the TDR status after one year of performance. The following table includes the recorded investment and unpaid principal balances for impaired loans with the associated allowance amount, if applicable (in thousands). Recorded Unpaid Associated June 30, 2015 With no specific allowance recorded: Real estate loans Residential $ 9,378 $ 11,231 $ — Construction — — — Commercial 19,847 20,789 — Commercial 293 305 — Obligations of states and political subdivisions — — — Home equity loans and lines of credit 529 533 — Auto loans 159 237 — Other — — — Total 30,206 33,095 — With an allowance recorded: Real estate loans Residential 3,293 3,761 432 Construction — — — Commercial 145 174 1 Commercial — — — Obligations of states and political subdivisions — — — Home equity loans and lines of credit 78 106 69 Auto loans 181 181 76 Other — — — Total 3,697 4,222 578 Total: Real estate loans Residential 12,671 14,992 432 Construction — — — Commercial 19,992 20,963 1 Commercial 293 305 — Obligations of states and political subdivisions — — — Home equity loans and lines of credit 607 639 69 Auto loans 340 418 76 Other — — — Total Impaired Loans $ 33,903 $ 37,317 $ 578 September 30, 2014 With no specific allowance recorded: Real Estate Loans Residential $ 11,030 $ 13,225 $ — Construction — — — Commercial 21,587 22,428 — Commercial 719 777 — Obligations of states and political subdivisions — — — Home equity loans and lines of credit 210 377 — Auto Loans 101 101 — Other — — — Total 33,647 36,908 — With an allowance recorded: Real Estate Loans Residential 2,608 2,997 334 Construction — — — Commercial 657 677 84 Commercial — — — Obligations of states and political subdivisions — — — Home equity loans and lines of credit 53 76 50 Auto Loans — — — Other — — — Total 3,318 3,750 468 Total: Real Estate Loans Residential 13,638 16,222 334 Construction — — — Commercial 22,244 23,105 84 Commercial 719 777 — Obligations of states and political subdivisions — — — Home equity loans and lines of credit 263 453 50 Auto Loans 101 101 — Other — — — Total Impaired Loans $ 36,965 $ 40,658 $ 468 The following table represents the average recorded investments in the impaired loans and the related amount of interest recognized during the time within the period that the impaired loans were impaired (in thousands). Three months ended June 30, 2015 2014 2015 2014 Average Average Interest Interest With no specific allowance recorded: Real estate loans Residential $ 9,522 $ 8,989 $ 59 $ 92 Construction — — — — Commercial 20,152 20,640 222 179 Commercial 306 3,289 2 43 Obligations of states and political subdivisions — — — — Home equity loans and lines of credit 433 215 2 2 Auto loans 116 — — — Other — — — — Total 30,529 33,133 285 316 With an allowance recorded: Real estate loans Residential 2,697 3,806 3 21 Construction — — — — Commercial 146 978 — — Commercial — — — — Obligations of states and political subdivisions — — — — Home equity loans and lines of credit 51 37 — — Auto loans 60 — 2 — Other — — — — Total 2,954 4,821 5 21 Total: Real estate loans Residential 12,219 12,795 62 113 Construction — — — — Commercial 20,298 21,618 222 179 Commercial 306 3,289 2 43 Obligations of states and political subdivisions — — — — Home equity loans and lines of credit 484 252 2 2 Auto loans 176 — 2 — Other — — — — Total Impaired Loans $ 33,483 $ 37,954 $ 290 $ 337 Nine months ended June 30, 2015 2014 2015 2014 Average Average Interest Interest With no specific allowance recorded: Real estate loans Residential $ 10,334 $ 9,556 $ 222 $ 242 Construction — — — — Commercial 20,729 20,241 606 553 Commercial 550 1,764 6 49 Obligations of states and political subdivisions — — — — Home equity loans and lines of credit 307 285 4 4 Auto loans 74 — 1 — Other — — — — Total 31,994 31,846 839 848 With an allowance recorded: Real estate loans Residential 2,535 3,425 45 79 Construction — — — — Commercial 343 1,896 — — Commercial — — — — Obligations of states and political subdivisions — — — — Home equity loans and lines of credit 34 17 — — Auto loans 83 — 5 — Other — — — — Total 2,995 5,338 50 79 Total: Real estate loans Residential 12,869 12,981 267 321 Construction — — — — Commercial 21,072 22,137 606 553 Commercial 550 1,764 6 49 Obligations of states and political subdivisions — — — — Home equity loans and lines of credit 341 302 4 4 Auto loans 157 — 6 — Other — — — — Total Impaired Loans $ 34,989 $ 37,184 $ 889 $ 927 The Company uses a ten-point internal risk-rating system to monitor the credit quality of the overall loan portfolio. The first six categories are considered not criticized and are aggregated as Pass-rated. The criticized rating categories utilized by management generally follow bank regulatory definitions. The Special Mention category includes assets that are fundamentally sound yet, exhibit potentially unacceptable credit risk or deteriorating trends or characteristics which if left uncorrected, may result in deterioration of the repayment prospects for the asset or in the Company’s credit position at some future date. Loans in the Substandard category have well-defined weaknesses that jeopardize the liquidation of the debt and have a distinct possibility that some loss will be sustained if the weaknesses are not corrected. All loans greater than 90 days past due are considered Substandard. Loans in the Doubtful category have all the weaknesses inherent in one classified Substandard with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. Loans in the Loss category are considered uncollectible and of little value that their continuance as bankable assets is not warranted. Certain residential real estate loans, construction loans, home equity loans and lines of credit, auto loans and other consumer loans are underwritten and structured using standardized criteria and characteristics, primarily payment performance, and are normally risk rated and monitored collectively on a monthly basis. These are typically loans to individuals in the consumer categories and are delineated as either performing or non-performing. To help ensure that risk ratings are accurate and reflect the present and future capacity of borrowers to repay a loan as agreed, the Bank has a structured loan rating process with several layers of internal and external oversight. Generally, consumer and residential mortgage loans are included in the Pass categories unless a specific action, such as bankruptcy, repossession, or death occurs to raise awareness of a possible credit event. The Bank’s Commercial Loan Officers are responsible for the timely and accurate risk rating of the loans in their portfolios at origination and on an ongoing basis. The Bank’s Commercial Loan Officers perform an annual review of all commercial relationships $500,000 or greater. Confirmation of the appropriate risk grade is included in the review on an ongoing basis. The Bank engages an external consultant to conduct loan reviews on at least a semi-annual basis. Generally, the external consultant reviews commercial relationships greater than $1,000,000 and/or all criticized relationships. Detailed reviews, including plans for resolution, are performed on loans classified as Substandard on a quarterly basis. Loans in the Special Mention and Substandard categories that are collectively evaluated for impairment are given separate consideration in the determination of the allowance. The following tables present the classes of the loan portfolio summarized by the aggregate Pass and the criticized categories of Special Mention, Substandard and Doubtful within the internal risk rating system as of June 30, 2015 and September 30, 2014 (in thousands): June 30, 2015 Pass Special Substandard Doubtful Total Commercial real estate loans $ 169,502 $ 3,382 $ 22,619 $ — $ 195,503 Commercial 32,325 2,295 415 — 35,035 Obligations of states and political subdivisions 56,868 — — — 56,868 Total $ 258,695 $ 5,677 $ 23,034 $ — $ 287,406 September 30, 2014 Pass Special Substandard Doubtful Total Commercial real estate loans $ 160,749 $ 8,020 $ 21,469 $ 298 $ 190,536 Commercial 24,874 345 588 — 25,807 Obligations of states and political subdivisions 49,177 — — — 49,177 Total $ 234,800 $ 8,365 $ 22,057 $ 298 $ 265,520 All other loans are underwritten and structured using standardized criteria and characteristics, primarily payment performance, and are normally risk rated and monitored collectively on a monthly basis. These are typically loans to individuals in the consumer categories and are delineated as either performing or non-performing. The following tables present the risk ratings in the consumer categories of performing and non-performing loans at June 30, 2015 and September 30, 2014 (in thousands): Performing Non-performing Total June 30, 2015 Real estate loans: Residential $ 608,002 $ 10,196 $ 618,198 Construction 1,151 — 1,151 Home equity loans and lines of credit 40,281 694 40,975 Auto loans 150,263 107 150,370 Other 3,156 38 3,194 Total $ 802,853 $ 11,035 $ 813,888 Performing Non-performing Total September 30, 2014 Real estate loans: Residential $ 644,374 $ 9,778 $ 654,152 Construction 1,367 — 1,367 Home equity loans and lines of credit 41,128 259 41,387 Auto loans 100,571 — 100,571 Other 3,884 20 3,904 Total $ 791,324 $ 10,057 $ 801,381 Management further monitors the performance and credit quality of the loan portfolio by analyzing the age of the portfolio as determined by the length of time a recorded payment is past due. The following tables present the classes of the loan portfolio summarized by the aging categories of performing loans and nonaccrual loans as of June 30, 2015 and September 30, 2014 (in thousands): Current 31-60 Days 61-90 Days Greater than Non-Accrual Total Past Total June 30, 2015 Real estate loans Residential $ 604,655 $ 1,930 $ 1,417 $ — $ 10,196 $ 13,543 $ 618,198 Construction 1,151 — — — — — 1,151 Commercial 185,696 300 — — 9,507 9,807 195,503 Commercial 34,496 370 11 — 158 539 35,035 Obligations of states and political subdivisions 56,868 — — — — — 56,868 Home equity loans and lines of credit 40,148 63 70 — 694 827 40,975 Auto loans 148,588 1,549 126 — 107 1,782 150,370 Other 3,147 — 9 — 38 47 3,194 Total $ 1,074,749 $ 4,212 $ 1,633 $ — $ 20,700 $ 26,545 $ 1,101,294 Current 31-60 Days 61-90 Days Greater than Non-Accrual Total Past Total September 30, 2014 Real estate loans Residential $ 640,583 $ 2,398 $ 1,393 $ — $ 9,778 $ 13,569 $ 654,152 Construction 1,367 — — — — — 1,367 Commercial 179,319 516 89 — 10,612 11,217 190,536 Commercial 24,424 110 30 — 1,243 1,383 25,807 Obligations of states and political subdivisions 49,159 18 — — — 18 49,177 Home equity loans and lines of credit 40,870 225 33 — 259 517 41,387 Auto loans 100,112 426 33 — — 459 100,571 Other 3,884 — — — 20 20 3,904 Total $ 1,039,718 $ 3,693 $ 1,578 $ — $ 21,912 $ 27,183 $ 1,066,901 Our allowance for loan losses is maintained at a level necessary to absorb loan losses that are both probable and reasonably estimable. Management, in determining the allowance for loan losses, considers the losses inherent in its loan portfolio and changes in the nature and volume of loan activities, along with the general economic and real estate market conditions. Our allowance for loan losses consists of two elements: (1) an allocated allowance, which comprises allowances established on specific loans and class allowances based on historical loss experience and current trends, and (2) an allocated allowance based on general economic conditions and other risk factors in our markets and portfolios. We maintain a loan review system, which allows for a periodic review of our loan portfolio and the early identification of potential impaired loans. Such system takes into consideration, among other things, delinquency status, size of loans, type and market value of collateral and financial condition of the borrowers. General loan loss allowances are based upon a combination of factors including, but not limited to, actual loan loss experience, composition of the loan portfolio, current economic conditions, management’s judgment and losses which are probable and reasonably estimable. The allowance is increased through provisions charged against current earnings and recoveries of previously charged-off loans. Loans that are determined to be uncollectible are charged against the allowance. While management uses available information to recognize probable and reasonably estimable loan losses, future loss provisions may be necessary, based on changing economic conditions. Payments received on impaired loans generally are either applied against principal or reported as interest income, according to management’s judgment as to the collectability of principal. The allowance for loan losses as of June 30, 2015 is maintained at a level that represents management’s best estimate of losses inherent in the loan portfolio, and such losses were both probable and reasonably estimable. In addition, the FDIC and the Pennsylvania Department of Banking and Securities, as an integral part of their examination process, have periodically reviewed our allowance for loan losses. The banking regulators may require that we recognize additions to the allowance based on its analysis and review of information available to it at the time of its examination. Management reviews the loan portfolio on a quarterly basis using a defined, consistently applied process in order to make appropriate and timely adjustments to the ALL. When information confirms all or part of specific loans to be uncollectible, these amounts are promptly charged off against the ALL. The following tables summarize changes in the primary segments of the ALL for the three and nine month periods ending June 30, 2015 and 2014 (in thousands): Real Estate Loans Residential Construction Commercial Commercial Obligations of Home Auto Loans Other Unallocated Total ALL balance at March 31, 2015 $ 5,289 $ 17 $ 843 $ 635 $ 87 $ 468 $ 1,023 $ 30 $ 276 $ 8,668 Charge-offs (390 ) — — (3 ) — (3 ) (136 ) (5 ) — (537 ) Recoveries — — 54 11 — — 40 6 — 111 Provision 359 (8 ) (189 ) (2 ) 112 10 406 (3 ) (160 ) 525 ALL balance at June 30, 2015 $ 5,258 $ 9 $ 708 $ 641 $ 199 $ 475 $ 1,333 $ 28 $ 116 $ 8,767 March 31, 2014 $ 5,920 $ 26 $ 1,003 $ 369 $ 106 $ 500 $ — $ 26 $ 712 $ 8,662 Charge-offs (332 ) — (23 ) — — (10 ) — — — (365 ) Recoveries 34 — — 2 — — — 3 — 39 Provision 312 (2 ) (399 ) 222 10 (17 ) 56 (3 ) 321 500 ALL balance at June 30, 2014 $ 5,934 $ 24 $ 581 $ 593 $ 116 $ 473 $ 56 $ 26 $ 1,033 $ 8,836 Real Estate Loans Residential Construction Commercial Commercial Obligations of Home Auto Loans Other Unallocated Total ALL balance at September 30, 2014 $ 5,573 $ 11 $ 663 $ 528 $ 163 $ 470 $ 459 $ 32 $ 735 $ 8,634 Charge-offs (1,150 ) — (53 ) (30 ) — (22 ) (301 ) (5 ) — (1,561 ) Recoveries 22 — 85 20 — 12 49 6 — 194 Provision 813 (2 ) 13 123 36 15 1,126 (5 ) (619 ) 1,500 ALL balance at June 30, 2015 $ 5,258 $ 9 $ 708 $ 641 $ 199 $ 475 $ 1,333 $ 28 $ 116 $ 8,767 September 30, 2013 $ 5,787 $ 20 $ 946 $ 337 $ 130 $ 430 $ — $ 21 $ 393 $ 8,064 Charge-offs (1,255 ) — (73 ) (48 ) — (73 ) — — — (1,449 ) Recoveries 112 — 83 14 — — — 12 — 221 Provision 1,290 4 (375 ) 290 (14 ) 116 56 (7 ) 640 2,000 ALL balance at June 30, 2014 $ 5,934 $ 24 $ 581 $ 593 $ 116 $ 473 $ 56 $ 26 $ 1,033 $ 8,836 Acquired loans are recorded at fair value on their purchase date without a carryover of the related allowance for loan losses. The following table summarizes the primary segments of the ALL, segregated into amount required for loans individually evaluated for impairment and the amount required for loans collectively evaluated for impairment as of June 30, 2015 and September 30, 2014 (in thousands): Real Estate Loans Residential Construction Commercial Commercial Obligations of Home Auto Loans Other Unallocated Total Individually evaluated for impairment $ 432 $ — $ 1 $ — $ — $ 69 $ 76 $ — $ — $ 578 Collectively evaluated for impairment 4,826 9 707 641 199 406 1,257 28 116 8,189 ALL Balance at June 30, 2015 $ 5,258 $ 9 $ 708 $ 641 $ 199 $ 475 $ 1,333 $ 28 $ 116 $ 8,767 Individually evaluated for impairment $ 334 $ — $ 84 $ — $ — $ 50 $ — $ — $ — $ 468 Collectively evaluated for impairment 5,239 11 579 528 163 420 459 32 735 8,166 ALL balance at September 30, 2014 $ 5,573 $ 11 $ 663 $ 528 $ 163 $ 470 $ 459 $ 32 $ 735 $ 8,634 The allowance for loan losses is based on estimates, and actual losses will vary from current estimates. Management believes that the granularity of the homogeneous pools and the related historical loss ratios and other qualitative factors, as well as the consistency in the application of assumptions, result in an ALL that is representative of the risk found in the components of the portfolio at any given date. The Company allocated decreased provisions to residential real estate for the nine month period ending June 30, 2015 due to declining loan balances and impairment evaluations in those segments. The Company allocated increased provisions to commercial real estate, commercial loans and obligations of states and political subdivisions for the nine month period ending June 30, 2015 due primarily to increased loan balances. The Company allocated increased provisions in auto loans due to increased loan balances and increased charge off activity. Despite the above allocations, the allowance for loan losses is general in nature and is available to absorb losses from any loan segment. The following is a summary of troubled debt restructuring granted during the three and nine months ended June 30, 2015 and 2014 (dollars in thousands). For the Three Months Ended June 30, 2015 Dollars in thousands Number of Pre-Modification Post-Modification Troubled Debt Restructurings Real estate loans: Residential 3 $ 695 $ 695 Construction — — — Commercial — — — Commercial — — — Obligations of states and political subdivisions — — — Home equity loans and lines of credit 1 25 25 Auto loans — — — Other — — — Total 4 $ 720 $ 720 All four new troubled debt restructurings, granted for the three months ended June 30, 2015, were granted terms and rate concessions. For the Three Months Ended June 30, 2014 Dollars in thousands Number of Pre-Modification Post-Modification Recorded Troubled Debt Restructurings Real estate loans: Residential 2 $ 236 $ 236 Construction — — — Commercial — — — Commercial — — — Obligations of states and political subdivisions — — — Home equity loans and lines of credit — — — Auto loans — — — Other — — — Total 2 $ 236 $ 236 Of the two new troubled debt restructurings granted for the three months ended June 30, 2014, one loan totaling $208,000 was granted terms and rate concessions and one loan totaling $28,000 was granted terms concessions. For the Nine Months Ended June 30, 2015 Dollars in thousands Number of Pre-Modification Post-Modification Troubled Debt Restructurings Real estate loans: Residential 12 $ 2,115 $ 2,115 Construction — — — Commercial — — — Commercial — — — Obligations of states and political subdivisions — — — Home equity loans and lines of credit 2 175 175 Auto loans — — — Other — — — Total 14 $ 2,290 $ 2,290 Of the fourteen new troubled debt restructurings granted for the nine months ended June 30, 2015, ten loans totaling $1.6 million were granted terms and rate concessions and four loans totaling $607,000 were granted terms concessions. For the Nine Months Ended June 30, 2014 Dollars in thousands Number of Pre-Modification Post-Modification Troubled Debt Restructurings Real estate loans: Residential 9 $ 1,293 $ 1,293 Construction — — — Commercial 1 197 197 Commercial — — — Obligations of states and political subdivisions — — — Home equity loans and lines of credit — — — Other — — — Total 10 $ 1,490 $ 1,490 Of the ten new troubled debt restructurings granted for the nine months ended June 30, 2014, six loans totaling $883,000 were granted terms and rate concessions and four loans totaling $607,000 were granted terms concessions. For the three months ended June 30, 2015, one residential real estate loan totaling $68,000 defaulted on a restructuring agreement within one year of modification. For the nine months ended June 30, 2015, five residential real estate loans totaling $712,000 defaulted on a restructuring agreement within one year of modification. There were no troubled debt restructurings that have subsequently defaulted within one year of modification for the three and nine months ended June 30, 2014. |
Deposits
Deposits | 9 Months Ended |
Jun. 30, 2015 | |
Banking and Thrift [Abstract] | |
Deposits | 8. Deposits Deposits consist of the following major classifications (in thousands): June 30, September 30, Non-interest bearing demand accounts $ 103,419 $ 70,048 Interest bearing demand accounts 98,498 163,936 Money market accounts 155,140 170,158 Savings and club accounts 131,295 122,734 Certificates of deposit 587,201 607,013 Total $ 1,075,553 $ 1,133,889 |
Net Periodic Benefit Cost-Defin
Net Periodic Benefit Cost-Defined Benefit Plan | 9 Months Ended |
Jun. 30, 2015 | |
Compensation and Retirement Disclosure [Abstract] | |
Net Periodic Benefit Cost-Defined Benefit Plan | 9. Net Periodic Benefit Cost-Defined Benefit Plan For a detailed disclosure on the Bank’s pension and employee benefits plans, please refer to Note 13 of the Company’s Consolidated Financial Statements for the year ended September 30, 2014 included in the Company’s Form 10-K. The following table comprises the components of net periodic benefit cost for the periods ended (in thousands): Three Months Ended Nine Months Ended 2015 2014 2015 2014 Service Cost $ 219 $ 144 $ 655 $ 433 Interest Cost 207 191 619 572 Expected return on plan assets (309 ) (290 ) (925 ) (871 ) Amortization of unrecognized loss 61 7 181 21 Net periodic benefit cost $ 178 $ 52 $ 530 $ 155 The Bank contributed $500,000 to its pension plan in April 2015. |
Equity Incentive Plan
Equity Incentive Plan | 9 Months Ended |
Jun. 30, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Equity Incentive Plan | 10. Equity Incentive Plan The Company maintains the ESSA Bancorp, Inc. 2007 Equity Incentive Plan (the “Plan”). The Plan provides for a total of 2,377,326 shares of common stock for issuance upon the grant or exercise of awards. Of the shares available under the Plan, 1,698,090 may be issued in connection with the exercise of stock options and 679,236 may be issued as restricted stock. The Plan allows for the granting of non-qualified stock options (“NSOs”), incentive stock options (“ISOs”), and restricted stock. Options are granted at no less than the fair value of the Company’s common stock on the date of the grant. Certain officers, employees and outside directors were granted in aggregate 1,140,469 NSOs; 317,910 ISOs; and 590,320 shares of restricted stock on May 23, 2008. Certain officers were granted in aggregate 30,000 shares of restricted stock on April 1, 2013, 19,880 of restricted stock on July 22, 2014 and 21,843 shares of restricted stock on May 20, 2105. In accordance with generally accepted accounting principles , The Company classifies share-based compensation for employees and outside directors within “Compensation and employee benefits” in the consolidated statement of income to correspond with the same line item as compensation paid. Additionally, generally accepted accounting principles require the Company to report: (1) the expense associated with the grants as an adjustment to operating cash flows and (2) any benefits of realized tax deductions in excess of previously recognized tax benefits on compensation expense as a financing cash flow. Stock options vest over a five-year service period and expire ten years after grant date. The Company recognizes compensation expense for the fair values of these awards, which vest on a straight-line basis over the requisite service period of the awards. The 2013 restricted stock shares vested over an 18-month service period. The 2014 restricted shares vest over a 39 month service period. The 2015 restricted shares vest over a 40 month service period. The product of the number of shares granted and the grant date market price of the Company’s common stock determines the fair value of restricted shares under the Company’s restricted stock plan. The Company recognizes compensation expense for the fair value of restricted shares on a straight-line basis over the requisite service period for the entire award. For the nine months ended June 30, 2015 and 2014, the Company recorded $171,000 and $170,000 of share-based compensation expense, respectively, comprised of restricted stock expense. Expected future compensation expense relating to the 14,906 (2014 shares) restricted shares, at June 30, 2015 is $152,000 over the remaining vesting period of 2.25 years. Expected future compensation expense relating to the 21,843 restricted shares (2015 shares) at June 30, 2015 is $271,000 over the remaining vesting period of 3.25 years. The following is a summary of the Company’s stock option activity and related information for its option grants for the nine month period ended June 30, 2015. Number of Stock Weighted- Weighted- Aggregate Outstanding, September 30, 2014 1,443,379 $ 12.35 3.67 $ — Granted — — — — Exercised — — — — Forfeited (123,799 ) 12.35 2.92 — Outstanding, June 30, 2015 1,319,580 $ 12.35 2.92 $ 673,000 Exercisable at June 30, 2015 1,319,580 $ 12.35 2.92 $ 673,000 The following is a summary of the status of the Company’s restricted stock as of June 30, 2015, and changes therein during the nine month period then ended: Number of Weighted- Nonvested at September 30, 2014 14,906 $ 11.07 Granted 21,843 13.05 Vested — — Forfeited — — Nonvested at June 30, 2015 36,749 $ 12.25 |
Fair Value Measurement
Fair Value Measurement | 9 Months Ended |
Jun. 30, 2015 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurement | 11. Fair Value Measurement The following disclosures show the hierarchal disclosure framework associated within the level of pricing observations utilized in measuring assets and liabilities at fair value. The definition of fair value maintains the exchange price notion in earlier definitions of fair value but focuses on the exit price of the asset or liability. The exit price is the price that would be received to sell the asset or paid to transfer the liability adjusted for certain inherent risks and restrictions. Expanded disclosures are also required about the use of fair value to measure assets and liabilities. The following table presents information about the Company’s securities, other real estate owned and impaired loans measured at fair value as of June 30, 2015 and September 30, 2014 and indicates the fair value hierarchy of the valuation techniques utilized by the Bank to determine such fair value: Fair Value Measurement at June 30, 2015 Fair Value Measurements Utilized for the Quoted Prices in Active Significant Other Significant Balances as of Securities available-for-sale measured on a recurring basis Mortgage backed securities $ — $ 246,499 $ — $ 246,499 Obligations of states and political subdivisions — 49,804 — 49,804 U.S. government agencies — 44,512 — 44,512 Corporate obligations — 19,399 2,000 21,399 Trust-preferred securities — 1,741 1,730 3,471 Other debt securities — 15,165 500 15,665 Equity securities-financial services 25 — — 25 Total debt and equity securities $ 25 $ 377,120 $ 4,230 $ 381,375 Foreclosed real estate owned measured on a non-recurring basis $ — $ — $ 2,595 $ 2,595 Impaired loans measured on a non-recurring basis $ — $ — $ 33,325 $ 33,325 Fair Value Measurement at September 30, 2014 Fair Value Measurements Utilized for the Quoted Prices in Active Significant Other Significant Balances as of Securities available-for-sale measured on a recurring basis Mortgage backed securities $ — $ 265,052 $ — $ 265,052 Obligations of states and political subdivisions — 42,771 — 42,771 U.S. government agencies — 47,630 — 47,630 Corporate obligations — 13,328 — 13,328 Trust-preferred securities — 3,891 1,730 5,621 Other debt securities — 6,151 500 6,651 Equity securities-financial services 2,025 — — 2,025 Total debt and equity securities $ 2,025 $ 378,823 $ 2,230 $ 383,078 Foreclosed real estate owned measured on a non-recurring basis $ — $ — $ 2,759 $ 2,759 Impaired loans measured on a non-recurring basis $ — $ — $ 36,497 $ 36,497 The following table presents a summary of changes in the fair value of the Company’s Level III investments for the three and nine month periods ended June 30, 2015 and June 30, 2014 (in thousands). Fair Value Measurement Using Significant Unobservable Inputs Three months ended June 30, 2015 June 30, 2014 Beginning balance $ 4,240 $ 1,830 Purchases, sales, issuances, settlements, net — — Total unrealized gain: Included in earnings — — Included in other comprehensive income (10 ) — Transfers in and/or out of Level III — — $ 4,230 $ 1,830 Fair Value Measurement Using Significant Unobservable Inputs Nine months ended June 30, 2015 June 30, 2014 Beginning balance $ 2,230 $ 1,800 Purchases, sales, issuances, settlements, net 2,000 — Total unrealized gain: Included in earnings — — Included in other comprehensive income — 30 Transfers in and/or out of Level III — — $ 4,230 $ 1,830 Each financial asset and liability is identified as having been valued according to a specified level of input, 1, 2 or 3. Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the Bank has the ability to access at the measurement date. Fair values determined by Level 2 inputs utilize inputs other than quoted prices included in Level 1 that are observable for the asset, either directly or indirectly. Level 2 inputs include quoted prices for similar assets in active markets, and inputs other than quoted prices that are observable for the asset or liability. Level 3 inputs are unobservable inputs for the asset, and include situations where there is little, if any, market activity for the asset or liability. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, the level in the fair value hierarchy, within which the fair value measurement in its entirety falls, has been determined based on the lowest level input that is significant to the fair value measurement in its entirety. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the asset. The measurement of fair value should be consistent with one of the following valuation techniques: market approach, income approach, and/or cost approach. The market approach uses prices and other relevant information generated by market transactions involving identical or comparable assets or liabilities (including a business). For example, valuation techniques consistent with the market approach often use market multiples derived from a set of comparables. Multiples might lie in ranges with a different multiple for each comparable. The selection of where within the range the appropriate multiple falls requires judgment, considering factors specific to the measurement (qualitative and quantitative). Valuation techniques consistent with the market approach include matrix pricing. Matrix pricing is a mathematical technique used principally to value debt securities without relying exclusively on quoted prices for the specific securities, but rather by relying on a security’s relationship to other benchmark quoted securities. Most of the securities classified as available for sale are reported at fair value utilizing Level 2 inputs. For these securities, the Company obtains fair value measurements from an independent pricing service. The fair value measurements consider observable data that may include dealer quoted market spreads, cash flows, the U.S. Treasury yield curve, live trading levels, trade execution data, market consensus prepayment speeds, credit information and the bond’s terms and conditions, among other things. Securities reported at fair value utilizing Level 1 inputs are limited to actively traded equity securities whose market price is readily available from the New York Stock Exchange or the NASDAQ exchange. A few securities are valued using Level 3 inputs. Foreclosed real estate is measured at fair value, less cost to sell at the date of foreclosure, valuations are periodically performed by management and the assets are carried at the lower of carrying amount or fair value, less cost to sell. Income and expenses from operations and changes in valuation allowance are included in the net expenses from foreclosed real estate. Impaired loans are reported at fair value utilizing level three inputs. For these loans, a review of the collateral is conducted and an appropriate allowance for loan losses is allocated to the loan. At June 30, 2015, 246 impaired loans with a carrying value of $33.9 million were reduced by specific valuation allowance totaling $578,000 resulting in a net fair value of $33.3 million based on Level 3 inputs. At September 30, 2014, 264 impaired loans with a carrying value of $37.0 million were reduced by a specific valuation totaling $468,000 resulting in a net fair value of $36.5 million based on Level 3 inputs. The following table presents additional quantitative information about assets measured at fair value on a nonrecurring basis and for which the Company has utilized Level 3 inputs to determine fair value: Quantitative Information about Level 3 Fair Value Measurements (in thousands) Fair Value Valuation Unobservable Range June 30, 2015 Impaired loans $ 33,325 Appraisal of Appraisal 0% to 50% Foreclosed real estate owned 2,595 Appraisal of Appraisal 19% to 30% Quantitative Information about Level 3 Fair Value Measurements (in thousands) Fair Value Valuation Unobservable Range September 30, 2014 Impaired loans $ 36,497 Appraisal of Appraisal 0% to 35% Foreclosed real estate owned 2,759 Appraisal of Appraisal 19% to 35% (1) Fair value is generally determined through independent appraisals of the underlying collateral, which generally include various level 3 inputs which are not identifiable. (2) Appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses. The range of liquidation expenses and other appraisal adjustments are presented as a percent of the appraisal. (3) Includes qualitative adjustments by management and estimated liquidation expenses. The fair values presented represent the Company’s best estimate of fair value using the methodologies discussed below. Disclosures about Fair Value of Financial Instruments The fair values presented represent the Company’s best estimate of fair value using the methodologies discussed below. June 30, 2015 Carrying Value Level I Level II Level III Total Fair Financial assets: Cash and cash equivalents $ 17,692 $ 17,692 $ — $ — $ 17,692 Investment and mortgage backed securities available for sale 381,375 25 377,120 4,230 381,375 Loans receivable, net 1,092,527 — — 1,109,147 1,109,147 Accrued interest receivable 5,115 5,115 — — 5,115 Regulatory stock 14,537 14,537 — — 14,537 Mortgage servicing rights 478 — — 478 478 Bank owned life insurance 30,421 30,421 — — 30,421 Financial liabilities: Deposits $ 1,075,553 $ 488,352 $ — $ 590,123 $ 1,078,475 Short-term borrowings 120,856 120,856 — — 120,856 Other borrowings 208,805 — — 209,841 209,841 Advances by borrowers for taxes and insurance 11,617 11,617 — — 11,617 Accrued interest payable 930 930 — — 930 September 30, 2014 Carrying Value Level I Level II Level III Total Fair Financial assets: Cash and cash equivalents $ 22,301 $ 22,301 $ — $ — $ 22,301 Investment and mortgage backed securities available for sale 383,078 2,025 378,823 2,230 383,078 Loans receivable, net 1,058,267 — — 1,077,585 1,077,585 Accrued interest receivable 5,061 5,061 — — 5,061 Regulatory stock 14,284 14,284 — — 14,284 Mortgage servicing rights 688 — — 688 688 Bank owned life insurance 29,720 29,720 — — 29,720 Financial liabilities: Deposits $ 1,133,889 $ 526,876 $ — $ 608,936 1,135,812 Short-term borrowings 108,020 108,020 — — 108,020 Other borrowings 151,300 — — 151,617 151,617 Advances by borrowers for taxes and insurance 4,093 4,093 — — 4,093 Accrued interest payable 831 831 — — 831 Financial instruments are defined as cash, evidence of an ownership interest in an entity, or a contract which creates an obligation or right to receive or deliver cash or another financial instrument from/to a second entity on potentially favorable or unfavorable terms. Fair value is defined as the amount at which a financial instrument could be exchanged in a current transaction between willing parties other than in a forced or liquidation sale. If a quoted market price is available for a financial instrument, the fair value would be calculated based upon the market price per trading unit of the instrument. If no readily available market exists, the fair value for financial instruments should be based upon management’s judgment regarding current economic conditions, interest rate risk, expected cash flows, future estimated losses, and other factors as determined through various option pricing formulas or simulation modeling. As many of these assumptions result from judgments made by management based upon estimates which are inherently uncertain, the resulting values may not be indicative of the amount realizable in the sale of a particular financial instrument. In addition, changes in the assumptions on which the values are based may have a significant impact on the resulting estimated values. As certain assets and liabilities, such as deferred tax assets, premises and equipment, and many other operational elements of the Bank, are not considered financial instruments but have value, this fair value of financial instruments would not represent the full market value of the Company. The Company employed simulation modeling in determining the fair value of financial instruments for which quoted market prices were not available based upon the following assumptions: Cash and Cash Equivalents, Accrued Interest Receivable, Short-Term Borrowings, Advances by Borrowers for Taxes and Insurance, and Accrued Interest Payable The fair value approximates the current book value. Bank-Owned Life Insurance The fair value is equal to the cash surrender value of the Bank-owned life insurance. Investment and Mortgage-Backed Securities Available for Sale and FHLB Stock The fair value of investment and mortgage-backed securities available for sale is equal to the available quoted market price. If no quoted market price is available, fair value is estimated using the quoted market price for similar securities. Since the FHLB stock is not actively traded on a secondary market and held exclusively by member financial institutions, the fair market value approximates the carrying amount. For certain securities which are not traded in active markets or are subject to transfer restrictions, valuations are adjusted to reflect illiquidity and/or non-transferability, and such adjustments are generally based on available market evidence (Level 3). In the absence of such evidence, management’s best estimate is used. Management’s best estimate consists of both internal and external support on certain Level 3 investments. Internal cash flow models using a present value formula that includes assumptions market participants would use along with indicative exit pricing obtained from broker/dealers (where available) are used to support fair values of certain Level 3 investments, if applicable. Loans Receivable The fair values of loans are estimated using discounted cash flow analyses, using market rates at the balance sheet date that reflect the credit and interest rate-risk inherent in the loans. Projected future cash flows are calculated based upon contractual maturity or call dates, projected repayments and prepayments of principal. Generally, for variable rate loans that reprice frequently and with no significant change in credit risk, fair values are based on carrying values. Mortgage Servicing Rights The Company utilizes a third party provider to estimate the fair value of certain loan servicing rights. Fair value for the purpose of this measurement is defined as the amount at which the asset could be exchanged in a current transaction between willing parties, other than in a forced liquidation. Deposits The fair values disclosed for demand, savings, and money market deposit accounts are valued at the amount payable on demand as of quarter-end. Fair values for time deposits are estimated using a discounted cash flow calculation that applies contractual costs currently being offered in the existing portfolio to current market rates being offered for deposits of similar remaining maturities. Other Borrowings Fair values for other borrowings are estimated using a discounted cash flow calculation that applies contractual costs currently being offered in the existing portfolio to current market rates being offered for other borrowings of similar remaining maturities. Commitments to Extend Credit These financial instruments are generally not subject to sale, and fair values are not readily available. The carrying value, represented by the net deferred fee arising from the unrecognized commitment, and the fair value, determined by discounting the remaining contractual fee over the term of the commitment using fees currently charged to enter into similar agreements with similar credit risk, are not considered material for disclosure. |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Income/(Loss) | 9 Months Ended |
Jun. 30, 2015 | |
Equity [Abstract] | |
Accumulated Other Comprehensive Income/(Loss) | 12. Accumulated Other Comprehensive Income/(Loss) The activity in accumulated other comprehensive income/(loss) for the three and nine months ended June 30, 2015 and 2014 is as follows (in thousands): Accumulated Other Defined Benefit Unrealized Gains Total Balance at March 31, 2015 $ (3,148 ) $ 3,889 $ 741 Other comprehensive income before reclassifications — (2,308 ) (2,308 ) Amounts reclassified from accumulated other comprehensive loss, net of tax 39 (128 ) (89 ) Period change 39 (2,436 ) (2,397 ) Balance at June 30, 2015 $ (3,109 ) $ 1,453 $ (1,656 ) Balance at March 31, 2014 $ (1,297 ) $ (549 ) $ (1,846 ) Other comprehensive loss before reclassifications — 2,165 2,165 Amounts reclassified from accumulated other comprehensive loss, net of tax 5 7 12 Period change 5 2,172 2,177 Balance at June 30, 2014 $ (1,292 ) $ 1,623 $ 331 Accumulated Other Defined Benefit Unrealized Gains Total Balance at September 30, 2014 $ (3,228 ) $ 649 $ (2,579 ) Other comprehensive loss before reclassifications — 1,067 1,067 Amounts reclassified from accumulated other comprehensive loss 119 (263 ) (144 ) Period change 119 804 923 Balance at June 30, 2015 $ (3,109 ) $ 1,453 $ (1,656 ) Balance at September 30, 2013 $ (1,306 ) $ 71 $ (1,235 ) Other comprehensive loss before reclassifications — 1,701 1,701 Amounts reclassified from accumulated other comprehensive loss 14 (149 ) (135 ) Period change 14 1,552 1,566 Balance at June 30, 2014 $ (1,292 ) $ 1,623 $ 331 Amount Reclassified from Accumulated Other Affected Line Item in the Consolidated 2015 2014 Securities available for sale: Net securities gains reclassified into earnings $ 194 $ (10 ) Gain on sale of investments, net Related income tax expense (66 ) (3 ) Income taxes Net effect on accumulated other comprehensive loss for the period 128 (7 ) Net of tax Defined benefit pension plan: Amortization of net loss and prior service costs (61 ) (7 ) Compensation and employee benefits Related income tax expense 22 2 Income taxes Net effect on accumulated other comprehensive loss for the period $ (39 ) $ (5 ) Net of tax Total reclassification for the period $ 89 $ (12 ) Net of tax Amount Reclassified from Accumulated Other Affected Line Item in the Consolidated 2015 2014 Securities available for sale: Net securities gains reclassified into earnings $ 398 $ 226 Gain on sale of investments, net Related income tax expense (135 ) (77 ) Income taxes Net effect on accumulated other comprehensive loss for the period 263 149 Net of tax Defined benefit pension plan: Amortization of net loss and prior service costs (181 ) (21 ) Compensation and employee benefits Related income tax expense 62 7 Income taxes Net effect on accumulated other comprehensive loss for the period $ (119 ) $ (14 ) Net of tax Total reclassification for the period $ 144 $ 135 Net of tax |
Subsequent Events
Subsequent Events | 9 Months Ended |
Jun. 30, 2015 | |
Subsequent Events [Abstract] | |
Subsequent Events | 13 Subsequent Events. On July 29, 2015, the Company announced that it and Eagle National Bancorp, Inc. (“ENB”) had executed a definitive agreement whereby the Company will acquire ENB and its wholly owned subsidiary, Eagle National Bank through an all-cash deal. Under the terms of the merger agreement, stockholders of ENB will receive $5.80 per share or an aggregate of approximately $24.7 million. Pending the satisfaction of customary closing conditions, including the receipt of all regulatory approvals and the approval of ENB stockholders, the transaction is expected to close in the fourth calendar quarter of 2015. |
Recent Accounting Pronounceme22
Recent Accounting Pronouncements (Policies) | 9 Months Ended |
Jun. 30, 2015 | |
Accounting Changes and Error Corrections [Abstract] | |
Investments | In January 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-01, Investments – Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Qualified Affordable Housing Projects. |
Receivables Troubled Debt Restructurings | In January 2014, the FASB issued ASU 2014-04, Receivables – Troubled Debt Restructurings by Creditors (Subtopic 310-40): Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure. . In August 2014, the FASB issued ASU 2014-14, Receivables – Troubled Debt Restructurings by Creditors (Subtopic 310-40) |
Revenue from Contracts with Customers | In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers |
Transfers and Servicing | In June 2014, the FASB issued ASU 2014-11, Transfers and Servicing (Topic 860): Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures |
Compensation Stock Compensation | In June 2014, the FASB issued ASU 2014-12, Compensation-Stock Compensation (Topic 718): Accounting for Share-Based Payments when the Terms of an Award Provide that a Performance Target Could Be Achieved After the Requisite Service Period |
Presentation of Financial Statements Going Concern | In August 2014, the FASB issued ASU 2014-15, Presentation of Financial Statements -Going Concern (Subtopic |
Derivatives and Hedging | In November 2014, the FASB issued ASU 2014-16, Derivatives and Hedging (Topic 815): Determining Whether the Host Contract in a Hybrid Financial Instrument Issued in the Form of a Share Is More Akin to Debt or to Equity (a consensus of the FASB Emerging Issues Task Force). |
Income Statement Extraordinary and Unusual Items | In January 2015, the FASB issued ASU 2015-01, Income Statement –Extraordinary and Unusual Items, |
Consolidation | In February 2015, the FASB issued ASU 2015-02, Consolidation (Topic 810) |
Interest Imputation of Interest | In April 2015, the FASB issued ASU 2015-03, Interest-Imputation of Interest (Subtopic 835-30) |
Compensation Retirement Benefits | In April 2015, the FASB issued ASU 2015-04, Compensation-Retirement Benefits (Topic 715), |
Intangible Goodwill and Other Internal Use Software | In April 2015, the FASB issued ASU 2015-05, Intangible – Goodwill and Other Internal Use Software (Topic 350-40) |
Earnings per Share (Tables)
Earnings per Share (Tables) | 9 Months Ended |
Jun. 30, 2015 | |
Earnings Per Share [Abstract] | |
Composition of the Weighted-Average Common Shares (Denominator) Used in the Basic and Diluted Earnings Per Share Computation | The following table sets forth the composition of the weighted-average common shares (denominator) used in the basic and diluted earnings per share computation for the three and nine month periods ended June 30, 2015 and 2014. Three months ended Nine months ended June 30, June 30, June 30, June 30, Weighted-average common shares outstanding 18,133,095 18,133,095 18,133,095 18,133,095 Average treasury stock shares (6,709,111 ) (6,272,961 ) (6,671,091 ) (6,233,349 ) Average unearned ESOP shares (967,514 ) (1,012,790 ) (978,875 ) (1,024,151 ) Average unearned non-vested shares (25,008 ) (9,752 ) (19,045 ) (11,233 ) Weighted average common shares and common stock equivalents used to calculate basic earnings per share 10,431,462 10,837,592 10,464,084 10,864,362 Additional common stock equivalents (non-vested stock) used to calculate diluted earnings per share 627 — — — Additional common stock equivalents (stock options) used to calculate diluted earnings per share 133,034 — 69,620 — Weighted average common shares and common stock equivalents used to calculate diluted earnings per share 10,565,123 10,837,592 10,533,704 10,864,362 |
Investment Securities (Tables)
Investment Securities (Tables) | 9 Months Ended |
Jun. 30, 2015 | |
Investments, Debt and Equity Securities [Abstract] | |
Summary of Amortized Cost and Fair Value of Investment Securities Available for Sale | The amortized cost, gross unrealized gains and losses, and fair value of investment securities available for sale are summarized as follows (in thousands): June 30, 2015 Amortized Gross Gross Fair Value Available for Sale Fannie Mae $ 134,184 $ 1,470 $ (913 ) $ 134,741 Freddie Mac 92,368 738 (562 ) 92,544 Governmental National Mortgage Association 16,534 106 (77 ) 16,563 Other mortgage-backed securities 2,663 — (12 ) 2,651 Total mortgage-backed securities 245,749 2,314 (1,564 ) 246,499 Obligations of states and political subdivisions 48,887 1,293 (376 ) 49,804 U.S. government agency securities 44,246 280 (14 ) 44,512 Corporate obligations 21,493 142 (236 ) 21,399 Trust-preferred securities 3,194 277 — 3,471 Other debt securities 15,579 122 (36 ) 15,665 Total debt securities 379,148 4,428 (2,226 ) 381,350 Equity securities - financial services 25 — — 25 Total $ 379,173 $ 4,428 $ (2,226 ) $ 381,375 September 30, 2014 Amortized Gross Gross Fair Value Available for Sale Fannie Mae $ 144,291 $ 1,327 $ (1,550 ) $ 144,068 Freddie Mac 99,556 548 (1,277 ) 98,827 Governmental National Mortgage Association 19,446 92 (161 ) 19,377 Other mortgage-backed securities 2,795 — (15 ) 2,780 Total mortgage-backed securities 266,088 1,967 (3,003 ) 265,052 Obligations of states and political subdivisions 41,375 1,654 (258 ) 42,771 U.S. government agency securities 47,821 192 (383 ) 47,630 Corporate obligations 13,140 236 (48 ) 13,328 Trust-preferred securities 5,027 594 — 5,621 Other debt securities 6,618 51 (18 ) 6,651 Total debt securities 380,069 4,694 (3,710 ) 381,053 Equity securities - financial services 2,025 — — 2,025 Total $ 382,094 $ 4,694 $ (3,710 ) $ 383,078 |
Schedule of Amortized Cost and Fair Value of Debt Securities by Contractual Maturity | The amortized cost and fair value of debt securities at June 30, 2015, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties (in thousands): Available For Sale Amortized Fair Value Due in one year or less $ 6,506 $ 6,516 Due after one year through five years 49,366 49,771 Due after five years through ten years 64,198 64,601 Due after ten years 259,078 260,462 Total $ 379,148 $ 381,350 |
Unrealized Losses on Securiti25
Unrealized Losses on Securities (Tables) | 9 Months Ended |
Jun. 30, 2015 | |
Text Block [Abstract] | |
Schedule of Gross Unrealized Losses and Fair Value | The following table shows the Company’s gross unrealized losses and fair value, aggregated by investment category and length of time that the individual securities have been in a continuous unrealized loss position (dollars in thousands): June 30, 2015 Number of Less than Twelve Twelve Months or Total Fair Gross Fair Gross Fair Value Gross Fannie Mae 26 $ 15,652 $ (129 ) $ 24,511 $ (784 ) $ 40,163 $ (913 ) Freddie Mac 21 15,946 (101 ) 16,010 (461 ) 31,956 (562 ) Governmental National Mortgage Association 4 1,244 (7 ) 2,399 (70 ) 3,643 (77 ) Other mortgage-backed securities 3 — — 2,651 (12 ) 2,651 (12 ) Obligations of states and political subdivisions 14 9,172 (195 ) 4,581 (181 ) 13,753 (376 ) U.S. government agency securities 4 7,986 (13 ) 1,000 (1 ) 8,986 (14 ) Corporate obligations 10 9,906 (214 ) 979 (22 ) 10,885 (236 ) Other debt securities 7 6,097 (27) 1,801 (9) 7,898 (36) Total 89 66,003 (686 ) 53,932 (1,540 ) 119,935 (2,226 ) September 30, 2014 Number of Securities Less than Twelve Twelve Months or Total Fair Gross Fair Gross Fair Value Gross Fannie Mae 39 $ 34,377 $ (164 ) $ 33,249 $ (1,386 ) $ 67,626 $ (1,550 ) Freddie Mac 36 38,210 (216 ) 29,269 (1,061 ) 67,479 (1,277 ) Governmental National Mortgage Association 5 4,127 (22 ) 2,981 (139 ) 7,108 (161 ) Other mortgage-backed securities 3 — — 2,780 (15 ) 2,780 (15 ) Obligations of states and political subdivisions 5 — — 7,207 (258 ) 7,207 (258 ) U.S. government agency securities 11 8,004 (25 ) 18,629 (358 ) 26,633 (383 ) Corporate obligations 5 3,142 (32 ) 1,130 (16 ) 4,272 (48 ) Other debt securities 2 1,980 (18 ) — — 1,980 (18 ) Total 106 $ 89,840 $ (477 ) $ 95,245 $ (3,233 ) $ 185,085 $ (3,710 ) |
Loans Receivable, Net and All26
Loans Receivable, Net and Allowance for Loan Losses (Tables) | 9 Months Ended |
Jun. 30, 2015 | |
Receivables [Abstract] | |
Summary of Loans Receivable | Loans receivable consist of the following (in thousands): June 30, September 30, Real estate loans: Residential $ 618,198 $ 654,152 Construction 1,151 1,367 Commercial 195,503 190,536 Commercial 35,035 25,807 Obligations of states and political subdivisions 56,868 49,177 Home equity loans and lines of credit 40,975 41,387 Auto Loans 150,370 100,571 Other 3,194 3,904 1,101,294 1,066,901 Less allowance for loan losses 8,767 8,634 Net loans $ 1,092,527 $ 1,058,267 |
Schedule of Loans Evaluated for Impairment | Individually Evaluated for Impairment Loans Acquired with Deteriorated Credit Quality Collectively Evaluated for Impairment June 30, 2015 Real estate loans: Residential $ 618,198 $ 12,671 $ — $ 605,527 Construction 1,151 — — 1,151 Commercial 195,503 15,627 4,365 175,511 Commercial 35,035 219 74 34,742 Obligations of states and political subdivisions 56,868 — — 56,868 Home equity loans and lines of credit 40,975 607 — 40,368 Auto loans 150,370 340 — 150,030 Other 3,194 — — 3,194 Total $ 1,101,294 $ 29,464 $ 4,439 $ 1,067,391 Total Loans Individually Evaluated for Impairment Loans Acquired with Deteriorated Credit Quality Collectively Evaluated for Impairment September 30, 2014 Real estate loans: Residential $ 654,152 $ 13,528 $ 110 $ 640,514 Construction 1,367 — — 1,367 Commercial 190,536 17,517 4,727 168,292 Commercial 25,807 456 263 25,088 Obligations of states and political subdivisions 49,177 — — 49,177 Home equity loans and lines of credit 41,387 266 (3 ) 41,124 Auto loans 100,571 101 — 100,470 Other 3,904 — — 3,904 Total $ 1,066,901 $ 31,868 $ 5,097 $ 1,029,936 |
Schedule of Investment and Unpaid Principal Balances for Impaired Loans | The following table includes the recorded investment and unpaid principal balances for impaired loans with the associated allowance amount, if applicable (in thousands). Recorded Unpaid Associated June 30, 2015 With no specific allowance recorded: Real estate loans Residential $ 9,378 $ 11,231 $ — Construction — — — Commercial 19,847 20,789 — Commercial 293 305 — Obligations of states and political subdivisions — — — Home equity loans and lines of credit 529 533 — Auto loans 159 237 — Other — — — Total 30,206 33,095 — With an allowance recorded: Real estate loans Residential 3,293 3,761 432 Construction — — — Commercial 145 174 1 Commercial — — — Obligations of states and political subdivisions — — — Home equity loans and lines of credit 78 106 69 Auto loans 181 181 76 Other — — — Total 3,697 4,222 578 Total: Real estate loans Residential 12,671 14,992 432 Construction — — — Commercial 19,992 20,963 1 Commercial 293 305 — Obligations of states and political subdivisions — — — Home equity loans and lines of credit 607 639 69 Auto loans 340 418 76 Other — — — Total Impaired Loans $ 33,903 $ 37,317 $ 578 September 30, 2014 With no specific allowance recorded: Real Estate Loans Residential $ 11,030 $ 13,225 $ — Construction — — — Commercial 21,587 22,428 — Commercial 719 777 — Obligations of states and political subdivisions — — — Home equity loans and lines of credit 210 377 — Auto Loans 101 101 — Other — — — Total 33,647 36,908 — With an allowance recorded: Real Estate Loans Residential 2,608 2,997 334 Construction — — — Commercial 657 677 84 Commercial — — — Obligations of states and political subdivisions — — — Home equity loans and lines of credit 53 76 50 Auto Loans — — — Other — — — Total 3,318 3,750 468 Total: Real Estate Loans Residential 13,638 16,222 334 Construction — — — Commercial 22,244 23,105 84 Commercial 719 777 — Obligations of states and political subdivisions — — — Home equity loans and lines of credit 263 453 50 Auto Loans 101 101 — Other — — — Total Impaired Loans $ 36,965 $ 40,658 $ 468 The following table represents the average recorded investments in the impaired loans and the related amount of interest recognized during the time within the period that the impaired loans were impaired (in thousands). Three months ended June 30, 2015 2014 2015 2014 Average Average Interest Interest With no specific allowance recorded: Real estate loans Residential $ 9,522 $ 8,989 $ 59 $ 92 Construction — — — — Commercial 20,152 20,640 222 179 Commercial 306 3,289 2 43 Obligations of states and political subdivisions — — — — Home equity loans and lines of credit 433 215 2 2 Auto loans 116 — — — Other — — — — Total 30,529 33,133 285 316 With an allowance recorded: Real estate loans Residential 2,697 3,806 3 21 Construction — — — — Commercial 146 978 — — Commercial — — — — Obligations of states and political subdivisions — — — — Home equity loans and lines of credit 51 37 — — Auto loans 60 — 2 — Other — — — — Total 2,954 4,821 5 21 Total: Real estate loans Residential 12,219 12,795 62 113 Construction — — — — Commercial 20,298 21,618 222 179 Commercial 306 3,289 2 43 Obligations of states and political subdivisions — — — — Home equity loans and lines of credit 484 252 2 2 Auto loans 176 — 2 — Other — — — — Total Impaired Loans $ 33,483 $ 37,954 $ 290 $ 337 Nine months ended June 30, 2015 2014 2015 2014 Average Average Interest Interest With no specific allowance recorded: Real estate loans Residential $ 10,334 $ 9,556 $ 222 $ 242 Construction — — — — Commercial 20,729 20,241 606 553 Commercial 550 1,764 6 49 Obligations of states and political subdivisions — — — — Home equity loans and lines of credit 307 285 4 4 Auto loans 74 — 1 — Other — — — — Total 31,994 31,846 839 848 With an allowance recorded: Real estate loans Residential 2,535 3,425 45 79 Construction — — — — Commercial 343 1,896 — — Commercial — — — — Obligations of states and political subdivisions — — — — Home equity loans and lines of credit 34 17 — — Auto loans 83 — 5 — Other — — — — Total 2,995 5,338 50 79 Total: Real estate loans Residential 12,869 12,981 267 321 Construction — — — — Commercial 21,072 22,137 606 553 Commercial 550 1,764 6 49 Obligations of states and political subdivisions — — — — Home equity loans and lines of credit 341 302 4 4 Auto loans 157 — 6 — Other — — — — Total Impaired Loans $ 34,989 $ 37,184 $ 889 $ 927 |
Classes of Loan Portfolio, Internal Risk Rating System | The following tables present the classes of the loan portfolio summarized by the aggregate Pass and the criticized categories of Special Mention, Substandard and Doubtful within the internal risk rating system as of June 30, 2015 and September 30, 2014 (in thousands): June 30, 2015 Pass Special Substandard Doubtful Total Commercial real estate loans $ 169,502 $ 3,382 $ 22,619 $ — $ 195,503 Commercial 32,325 2,295 415 — 35,035 Obligations of states and political subdivisions 56,868 — — — 56,868 Total $ 258,695 $ 5,677 $ 23,034 $ — $ 287,406 September 30, 2014 Pass Special Substandard Doubtful Total Commercial real estate loans $ 160,749 $ 8,020 $ 21,469 $ 298 $ 190,536 Commercial 24,874 345 588 — 25,807 Obligations of states and political subdivisions 49,177 — — — 49,177 Total $ 234,800 $ 8,365 $ 22,057 $ 298 $ 265,520 |
Schedule of Performing or Nonperforming Loans | The following tables present the risk ratings in the consumer categories of performing and non-performing loans at June 30, 2015 and September 30, 2014 (in thousands): Performing Non-performing Total June 30, 2015 Real estate loans: Residential $ 608,002 $ 10,196 $ 618,198 Construction 1,151 — 1,151 Home equity loans and lines of credit 40,281 694 40,975 Auto loans 150,263 107 150,370 Other 3,156 38 3,194 Total $ 802,853 $ 11,035 $ 813,888 Performing Non-performing Total September 30, 2014 Real estate loans: Residential $ 644,374 $ 9,778 $ 654,152 Construction 1,367 — 1,367 Home equity loans and lines of credit 41,128 259 41,387 Auto loans 100,571 — 100,571 Other 3,884 20 3,904 Total $ 791,324 $ 10,057 $ 801,381 |
Classes of Loan Portfolio Summarized by Aging Categories | The following tables present the classes of the loan portfolio summarized by the aging categories of performing loans and nonaccrual loans as of June 30, 2015 and September 30, 2014 (in thousands): Current 31-60 Days 61-90 Days Greater than Non-Accrual Total Past Total June 30, 2015 Real estate loans Residential $ 604,655 $ 1,930 $ 1,417 $ — $ 10,196 $ 13,543 $ 618,198 Construction 1,151 — — — — — 1,151 Commercial 185,696 300 — — 9,507 9,807 195,503 Commercial 34,496 370 11 — 158 539 35,035 Obligations of states and political subdivisions 56,868 — — — — — 56,868 Home equity loans and lines of credit 40,148 63 70 — 694 827 40,975 Auto loans 148,588 1,549 126 — 107 1,782 150,370 Other 3,147 — 9 — 38 47 3,194 Total $ 1,074,749 $ 4,212 $ 1,633 $ — $ 20,700 $ 26,545 $ 1,101,294 Current 31-60 Days 61-90 Days Greater than Non-Accrual Total Past Total September 30, 2014 Real estate loans Residential $ 640,583 $ 2,398 $ 1,393 $ — $ 9,778 $ 13,569 $ 654,152 Construction 1,367 — — — — — 1,367 Commercial 179,319 516 89 — 10,612 11,217 190,536 Commercial 24,424 110 30 — 1,243 1,383 25,807 Obligations of states and political subdivisions 49,159 18 — — — 18 49,177 Home equity loans and lines of credit 40,870 225 33 — 259 517 41,387 Auto loans 100,112 426 33 — — 459 100,571 Other 3,884 — — — 20 20 3,904 Total $ 1,039,718 $ 3,693 $ 1,578 $ — $ 21,912 $ 27,183 $ 1,066,901 |
Summary of Primary Segments of ALL | The following tables summarize changes in the primary segments of the ALL for the three and nine month periods ending June 30, 2015 and 2014 (in thousands): Real Estate Loans Residential Construction Commercial Commercial Obligations of Home Auto Loans Other Unallocated Total ALL balance at March 31, 2015 $ 5,289 $ 17 $ 843 $ 635 $ 87 $ 468 $ 1,023 $ 30 $ 276 $ 8,668 Charge-offs (390 ) — — (3 ) — (3 ) (136 ) (5 ) — (537 ) Recoveries — — 54 11 — — 40 6 — 111 Provision 359 (8 ) (189 ) (2 ) 112 10 406 (3 ) (160 ) 525 ALL balance at June 30, 2015 $ 5,258 $ 9 $ 708 $ 641 $ 199 $ 475 $ 1,333 $ 28 $ 116 $ 8,767 March 31, 2014 $ 5,920 $ 26 $ 1,003 $ 369 $ 106 $ 500 $ — $ 26 $ 712 $ 8,662 Charge-offs (332 ) — (23 ) — — (10 ) — — — (365 ) Recoveries 34 — — 2 — — — 3 — 39 Provision 312 (2 ) (399 ) 222 10 (17 ) 56 (3 ) 321 500 ALL balance at June 30, 2014 $ 5,934 $ 24 $ 581 $ 593 $ 116 $ 473 $ 56 $ 26 $ 1,033 $ 8,836 Real Estate Loans Residential Construction Commercial Commercial Obligations of Home Auto Loans Other Unallocated Total ALL balance at September 30, 2014 $ 5,573 $ 11 $ 663 $ 528 $ 163 $ 470 $ 459 $ 32 $ 735 $ 8,634 Charge-offs (1,150 ) — (53 ) (30 ) — (22 ) (301 ) (5 ) — (1,561 ) Recoveries 22 — 85 20 — 12 49 6 — 194 Provision 813 (2 ) 13 123 36 15 1,126 (5 ) (619 ) 1,500 ALL balance at June 30, 2015 $ 5,258 $ 9 $ 708 $ 641 $ 199 $ 475 $ 1,333 $ 28 $ 116 $ 8,767 September 30, 2013 $ 5,787 $ 20 $ 946 $ 337 $ 130 $ 430 $ — $ 21 $ 393 $ 8,064 Charge-offs (1,255 ) — (73 ) (48 ) — (73 ) — — — (1,449 ) Recoveries 112 — 83 14 — — — 12 — 221 Provision 1,290 4 (375 ) 290 (14 ) 116 56 (7 ) 640 2,000 ALL balance at June 30, 2014 $ 5,934 $ 24 $ 581 $ 593 $ 116 $ 473 $ 56 $ 26 $ 1,033 $ 8,836 |
Summary of Loans Individually and Collectively Evaluated for Impairment | The following table summarizes the primary segments of the ALL, segregated into amount required for loans individually evaluated for impairment and the amount required for loans collectively evaluated for impairment as of June 30, 2015 and September 30, 2014 (in thousands): Real Estate Loans Commercial Obligations of Home Auto Loans Other Unallocated Total Residential Construction Commercial Individually evaluated for impairment $ 432 $ — $ 1 $ — $ — $ 69 $ 76 $ — $ — $ 578 Collectively evaluated for impairment 4,826 9 707 641 199 406 1,257 28 116 8,189 ALL Balance at June 30, 2015 $ 5,258 $ 9 $ 708 $ 641 $ 199 $ 475 $ 1,333 $ 28 $ 116 $ 8,767 Individually evaluated for impairment $ 334 $ — $ 84 $ — $ — $ 50 $ — $ — $ — $ 468 Collectively evaluated for impairment 5,239 11 579 528 163 420 459 32 735 8,166 ALL balance at September 30, 2014 $ 5,573 $ 11 $ 663 $ 528 $ 163 $ 470 $ 459 $ 32 $ 735 $ 8,634 |
Summary of Troubled Debt Restructuring Granted | The following is a summary of troubled debt restructuring granted during the three and nine months ended June 30, 2015 and 2014 (dollars in thousands). For the Three Months Ended June 30, 2015 Dollars in thousands Number of Pre-Modification Post-Modification Troubled Debt Restructurings Real estate loans: Residential 3 $ 695 $ 695 Construction — — — Commercial — — — Commercial — — — Obligations of states and political subdivisions — — — Home equity loans and lines of credit 1 25 25 Auto loans — — — Other — — — Total 4 $ 720 $ 720 For the Three Months Ended June 30, 2014 Dollars in thousands Number of Pre-Modification Post-Modification Recorded Troubled Debt Restructurings Real estate loans: Residential 2 $ 236 $ 236 Construction — — — Commercial — — — Commercial — — — Obligations of states and political subdivisions — — — Home equity loans and lines of credit — — — Auto loans — — — Other — — — Total 2 $ 236 $ 236 For the Nine Months Ended June 30, 2015 Dollars in thousands Number of Pre-Modification Post-Modification Troubled Debt Restructurings Real estate loans: Residential 12 $ 2,115 $ 2,115 Construction — — — Commercial — — — Commercial — — — Obligations of states and political subdivisions — — — Home equity loans and lines of credit 2 175 175 Auto loans — — — Other — — — Total 14 $ 2,290 $ 2,290 For the Nine Months Ended June 30, 2014 Dollars in thousands Number of Pre-Modification Post-Modification Troubled Debt Restructurings Real estate loans: Residential 9 $ 1,293 $ 1,293 Construction — — — Commercial 1 197 197 Commercial — — — Obligations of states and political subdivisions — — — Home equity loans and lines of credit — — — Other — — — Total 10 $ 1,490 $ 1,490 |
Deposits (Tables)
Deposits (Tables) | 9 Months Ended |
Jun. 30, 2015 | |
Banking and Thrift [Abstract] | |
Schedule of Deposits by Major Classifications | Deposits consist of the following major classifications (in thousands): June 30, September 30, Non-interest bearing demand accounts $ 103,419 $ 70,048 Interest bearing demand accounts 98,498 163,936 Money market accounts 155,140 170,158 Savings and club accounts 131,295 122,734 Certificates of deposit 587,201 607,013 Total $ 1,075,553 $ 1,133,889 |
Net Periodic Benefit Cost-Def28
Net Periodic Benefit Cost-Defined Benefit Plan (Tables) | 9 Months Ended |
Jun. 30, 2015 | |
Compensation and Retirement Disclosure [Abstract] | |
Summary of the Components of Net Periodic Benefit Cost | The following table comprises the components of net periodic benefit cost for the periods ended (in thousands): Three Months Ended Nine Months Ended 2015 2014 2015 2014 Service Cost $ 219 $ 144 $ 655 $ 433 Interest Cost 207 191 619 572 Expected return on plan assets (309 ) (290 ) (925 ) (871 ) Amortization of unrecognized loss 61 7 181 21 Net periodic benefit cost $ 178 $ 52 $ 530 $ 155 |
Equity Incentive Plan (Tables)
Equity Incentive Plan (Tables) | 9 Months Ended |
Jun. 30, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Schedule of Stock Option Activity | The following is a summary of the Company’s stock option activity and related information for its option grants for the nine month period ended June 30, 2015. Number of Stock Weighted- Weighted- Aggregate Outstanding, September 30, 2014 1,443,379 $ 12.35 3.67 $ — Granted — — — — Exercised — — — — Forfeited (123,799 ) 12.35 2.92 — Outstanding, June 30, 2015 1,319,580 $ 12.35 2.92 $ 673,000 Exercisable at June 30, 2015 1,319,580 $ 12.35 2.92 $ 673,000 |
Schedule of Restricted Stock Option Activity | The following is a summary of the status of the Company’s restricted stock as of June 30, 2015, and changes therein during the nine month period then ended: Number of Weighted- Nonvested at September 30, 2014 14,906 $ 11.07 Granted 21,843 13.05 Vested — — Forfeited — — Nonvested at June 30, 2015 36,749 $ 12.25 |
Fair Value Measurement (Tables)
Fair Value Measurement (Tables) | 9 Months Ended |
Jun. 30, 2015 | |
Fair Value Disclosures [Abstract] | |
Schedule of Securities, Other Real Estate Owned and Impaired Loans Measured at Fair Value | The following table presents information about the Company’s securities, other real estate owned and impaired loans measured at fair value as of June 30, 2015 and September 30, 2014 and indicates the fair value hierarchy of the valuation techniques utilized by the Bank to determine such fair value: Fair Value Measurement at June 30, 2015 Fair Value Measurements Utilized for the Quoted Prices in Active Significant Other Significant Balances as of Securities available-for-sale measured on a recurring basis Mortgage backed securities $ — $ 246,499 $ — $ 246,499 Obligations of states and political subdivisions — 49,804 — 49,804 U.S. government agencies — 44,512 — 44,512 Corporate obligations — 19,399 2,000 21,399 Trust-preferred securities — 1,741 1,730 3,471 Other debt securities — 15,165 500 15,665 Equity securities-financial services 25 — — 25 Total debt and equity securities $ 25 $ 377,120 $ 4,230 $ 381,375 Foreclosed real estate owned measured on a non-recurring basis $ — $ — $ 2,595 $ 2,595 Impaired loans measured on a non-recurring basis $ — $ — $ 33,325 $ 33,325 Fair Value Measurement at September 30, 2014 Fair Value Measurements Utilized for the Quoted Prices in Active Significant Other Significant Balances as of Securities available-for-sale measured on a recurring basis Mortgage backed securities $ — $ 265,052 $ — $ 265,052 Obligations of states and political subdivisions — 42,771 — 42,771 U.S. government agencies — 47,630 — 47,630 Corporate obligations — 13,328 — 13,328 Trust-preferred securities — 3,891 1,730 5,621 Other debt securities — 6,151 500 6,651 Equity securities-financial services 2,025 — — 2,025 Total debt and equity securities $ 2,025 $ 378,823 $ 2,230 $ 383,078 Foreclosed real estate owned measured on a non-recurring basis $ — $ — $ 2,759 $ 2,759 Impaired loans measured on a non-recurring basis $ — $ — $ 36,497 $ 36,497 |
Schedule of Changes in Fair Value of Level III Investments | The following table presents a summary of changes in the fair value of the Company’s Level III investments for the three and nine month periods ended June 30, 2015 and June 30, 2014 (in thousands). Fair Value Measurement Using Significant Unobservable Inputs Three months ended June 30, 2015 June 30, 2014 Beginning balance $ 4,240 $ 1,830 Purchases, sales, issuances, settlements, net — — Total unrealized gain: Included in earnings — — Included in other comprehensive income (10 ) — Transfers in and/or out of Level III — — $ 4,230 $ 1,830 Fair Value Measurement Using Significant Unobservable Inputs Nine months ended June 30, 2015 June 30, 2014 Beginning balance $ 2,230 $ 1,800 Purchases, sales, issuances, settlements, net 2,000 — Total unrealized gain: Included in earnings — — Included in other comprehensive income — 30 Transfers in and/or out of Level III — — $ 4,230 $ 1,830 |
Summary of Additional Quantitative Information about Assets Measured at Fair Value on a Nonrecurring Basis | The following table presents additional quantitative information about assets measured at fair value on a nonrecurring basis and for which the Company has utilized Level 3 inputs to determine fair value: Quantitative Information about Level 3 Fair Value Measurements (in thousands) Fair Value Valuation Unobservable Range June 30, 2015 Impaired loans $ 33,325 Appraisal of Appraisal 0% to 50% Foreclosed real estate owned 2,595 Appraisal of Appraisal 19% to 30% Quantitative Information about Level 3 Fair Value Measurements (in thousands) Fair Value Valuation Unobservable Range September 30, 2014 Impaired loans $ 36,497 Appraisal of Appraisal 0% to 35% Foreclosed real estate owned 2,759 Appraisal of Appraisal 19% to 35% (1) Fair value is generally determined through independent appraisals of the underlying collateral, which generally include various level 3 inputs which are not identifiable. (2) Appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses. The range of liquidation expenses and other appraisal adjustments are presented as a percent of the appraisal. (3) Includes qualitative adjustments by management and estimated liquidation expenses. |
Schedule of Estimate of Fair Value Using Methodologies | The fair values presented represent the Company’s best estimate of fair value using the methodologies discussed below. June 30, 2015 Carrying Value Level I Level II Level III Total Fair Financial assets: Cash and cash equivalents $ 17,692 $ 17,692 $ — $ — $ 17,692 Investment and mortgage backed securities available for sale 381,375 25 377,120 4,230 381,375 Loans receivable, net 1,092,527 — — 1,109,147 1,109,147 Accrued interest receivable 5,115 5,115 — — 5,115 Regulatory stock 14,537 14,537 — — 14,537 Mortgage servicing rights 478 — — 478 478 Bank owned life insurance 30,421 30,421 — — 30,421 Financial liabilities: Deposits $ 1,075,553 $ 488,352 $ — $ 590,123 $ 1,078,475 Short-term borrowings 120,856 120,856 — — 120,856 Other borrowings 208,805 — — 209,841 209,841 Advances by borrowers for taxes and insurance 11,617 11,617 — — 11,617 Accrued interest payable 930 930 — — 930 September 30, 2014 Carrying Value Level I Level II Level III Total Fair Financial assets: Cash and cash equivalents $ 22,301 $ 22,301 $ — $ — $ 22,301 Investment and mortgage backed securities available for sale 383,078 2,025 378,823 2,230 383,078 Loans receivable, net 1,058,267 — — 1,077,585 1,077,585 Accrued interest receivable 5,061 5,061 — — 5,061 Regulatory stock 14,284 14,284 — — 14,284 Mortgage servicing rights 688 — — 688 688 Bank owned life insurance 29,720 29,720 — — 29,720 Financial liabilities: Deposits $ 1,133,889 $ 526,876 $ — $ 608,936 1,135,812 Short-term borrowings 108,020 108,020 — — 108,020 Other borrowings 151,300 — — 151,617 151,617 Advances by borrowers for taxes and insurance 4,093 4,093 — — 4,093 Accrued interest payable 831 831 — — 831 |
Accumulated Other Comprehensi31
Accumulated Other Comprehensive Income/(Loss) (Tables) | 9 Months Ended |
Jun. 30, 2015 | |
Reclassification Out of Accumulated Other Comprehensive Income/(Loss) [Member] | |
Activity in Accumulated Other Comprehensive Income/(Loss) | The activity in accumulated other comprehensive income/(loss) for the three and nine months ended June 30, 2015 and 2014 is as follows (in thousands): Accumulated Other Defined Benefit Unrealized Gains Total Balance at March 31, 2015 $ (3,148 ) $ 3,889 $ 741 Other comprehensive income before reclassifications — (2,308 ) (2,308 ) Amounts reclassified from accumulated other comprehensive loss, net of tax 39 (128 ) (89 ) Period change 39 (2,436 ) (2,397 ) Balance at June 30, 2015 $ (3,109 ) $ 1,453 $ (1,656 ) Balance at March 31, 2014 $ (1,297 ) $ (549 ) $ (1,846 ) Other comprehensive loss before reclassifications — 2,165 2,165 Amounts reclassified from accumulated other comprehensive loss, net of tax 5 7 12 Period change 5 2,172 2,177 Balance at June 30, 2014 $ (1,292 ) $ 1,623 $ 331 Accumulated Other Defined Benefit Unrealized Gains Total Balance at September 30, 2014 $ (3,228 ) $ 649 $ (2,579 ) Other comprehensive loss before reclassifications — 1,067 1,067 Amounts reclassified from accumulated other comprehensive loss 119 (263 ) (144 ) Period change 119 804 923 Balance at June 30, 2015 $ (3,109 ) $ 1,453 $ (1,656 ) Balance at September 30, 2013 $ (1,306 ) $ 71 $ (1,235 ) Other comprehensive loss before reclassifications — 1,701 1,701 Amounts reclassified from accumulated other comprehensive loss 14 (149 ) (135 ) Period change 14 1,552 1,566 Balance at June 30, 2014 $ (1,292 ) $ 1,623 $ 331 Amount Reclassified from Accumulated Other Affected Line Item in the Consolidated 2015 2014 Securities available for sale: Net securities gains reclassified into earnings $ 194 $ (10 ) Gain on sale of investments, net Related income tax expense (66 ) (3 ) Income taxes Net effect on accumulated other comprehensive loss for the period 128 (7 ) Net of tax Defined benefit pension plan: Amortization of net loss and prior service costs (61 ) (7 ) Compensation and employee benefits Related income tax expense 22 2 Income taxes Net effect on accumulated other comprehensive loss for the period $ (39 ) $ (5 ) Net of tax Total reclassification for the period $ 89 $ (12 ) Net of tax Amount Reclassified from Accumulated Other Affected Line Item in the Consolidated 2015 2014 Securities available for sale: Net securities gains reclassified into earnings $ 398 $ 226 Gain on sale of investments, net Related income tax expense (135 ) (77 ) Income taxes Net effect on accumulated other comprehensive loss for the period 263 149 Net of tax Defined benefit pension plan: Amortization of net loss and prior service costs (181 ) (21 ) Compensation and employee benefits Related income tax expense 62 7 Income taxes Net effect on accumulated other comprehensive loss for the period $ (119 ) $ (14 ) Net of tax Total reclassification for the period $ 144 $ 135 Net of tax |
Nature of Operations and Basi32
Nature of Operations and Basis of Presentation - Additional Information (Detail) | Jun. 30, 2015 |
Collaboration Arrangement Disclosure [Abstract] | |
Percentage ownership of wholly owned subsidiary | 100.00% |
Earnings Per Share - Compositio
Earnings Per Share - Composition of the Weighted-Average Common Shares (Denominator) Used in the Basic and Diluted Earnings per Share Computation (Detail) - shares | 3 Months Ended | 9 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Earnings Per Share [Abstract] | ||||
Weighted-average common shares outstanding | 18,133,095 | 18,133,095 | 18,133,095 | 18,133,095 |
Average treasury stock shares | (6,709,111) | (6,272,961) | (6,671,091) | (6,233,349) |
Average unearned ESOP shares | (967,514) | (1,012,790) | (978,875) | (1,024,151) |
Average unearned non-vested shares | (25,008) | (9,752) | (19,045) | (11,233) |
Weighted average common shares and common stock equivalents used to calculate basic earnings per share | 10,431,462 | 10,837,592 | 10,464,084 | 10,864,362 |
Additional common stock equivalents (non-vested stock) used to calculate diluted earnings per share | 627 | |||
Additional common stock equivalents (stock options) used to calculate diluted earnings per share | 133,034 | 69,620 | ||
Weighted average common shares and common stock equivalents used to calculate diluted earnings per share | 10,565,123 | 10,837,592 | 10,533,704 | 10,864,362 |
Earnings Per Share - Additional
Earnings Per Share - Additional Information (Detail) - $ / shares | 9 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
Stock Option [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Anti-dilutive securities | 317,910 | 317,910 |
Price per share of anti-dilutive shares | $ 12.35 | $ 12.35 |
Stock Compensation Plan [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Anti-dilutive securities | 35,057 | 4,440 |
Price per share of anti-dilutive shares | $ 12.27 | $ 10.94 |
Investment Securities - Summary
Investment Securities - Summary of Amortized Cost and Fair Value of Investment Securities Available for Sale (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Sep. 30, 2014 |
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale, Amortized Cost | $ 379,173 | $ 382,094 |
Available for Sale, Gross Unrealized Gains | 4,428 | 4,694 |
Available for Sale, Gross Unrealized Losses | (2,226) | (3,710) |
Available for Sale, Fair Value | 381,375 | 383,078 |
Fannie Mae [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale, Amortized Cost | 134,184 | 144,291 |
Available for Sale, Gross Unrealized Gains | 1,470 | 1,327 |
Available for Sale, Gross Unrealized Losses | (913) | (1,550) |
Available for Sale, Fair Value | 134,741 | 144,068 |
Freddie Mac [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale, Amortized Cost | 92,368 | 99,556 |
Available for Sale, Gross Unrealized Gains | 738 | 548 |
Available for Sale, Gross Unrealized Losses | (562) | (1,277) |
Available for Sale, Fair Value | 92,544 | 98,827 |
Governmental National Mortgage Association [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale, Amortized Cost | 16,534 | 19,446 |
Available for Sale, Gross Unrealized Gains | 106 | 92 |
Available for Sale, Gross Unrealized Losses | (77) | (161) |
Available for Sale, Fair Value | 16,563 | 19,377 |
Other Mortgage-Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale, Amortized Cost | 2,663 | 2,795 |
Available for Sale, Gross Unrealized Losses | (12) | (15) |
Available for Sale, Fair Value | 2,651 | 2,780 |
Mortgage-Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale, Amortized Cost | 245,749 | 266,088 |
Available for Sale, Gross Unrealized Gains | 2,314 | 1,967 |
Available for Sale, Gross Unrealized Losses | (1,564) | (3,003) |
Available for Sale, Fair Value | 246,499 | 265,052 |
Obligations of States and Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale, Amortized Cost | 48,887 | 41,375 |
Available for Sale, Gross Unrealized Gains | 1,293 | 1,654 |
Available for Sale, Gross Unrealized Losses | (376) | (258) |
Available for Sale, Fair Value | 49,804 | 42,771 |
U.S. Government Agency Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale, Amortized Cost | 44,246 | 47,821 |
Available for Sale, Gross Unrealized Gains | 280 | 192 |
Available for Sale, Gross Unrealized Losses | (14) | (383) |
Available for Sale, Fair Value | 44,512 | 47,630 |
Corporate Obligations [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale, Amortized Cost | 21,493 | 13,140 |
Available for Sale, Gross Unrealized Gains | 142 | 236 |
Available for Sale, Gross Unrealized Losses | (236) | (48) |
Available for Sale, Fair Value | 21,399 | 13,328 |
Trust-Preferred Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale, Amortized Cost | 3,194 | 5,027 |
Available for Sale, Gross Unrealized Gains | 277 | 594 |
Available for Sale, Fair Value | 3,471 | 5,621 |
Other Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale, Amortized Cost | 15,579 | 6,618 |
Available for Sale, Gross Unrealized Gains | 122 | 51 |
Available for Sale, Gross Unrealized Losses | (36) | (18) |
Available for Sale, Fair Value | 15,665 | 6,651 |
Total Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale, Amortized Cost | 379,148 | 380,069 |
Available for Sale, Gross Unrealized Gains | 4,428 | 4,694 |
Available for Sale, Gross Unrealized Losses | (2,226) | (3,710) |
Available for Sale, Fair Value | 381,350 | 381,053 |
Equity Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale, Amortized Cost | 25 | 2,025 |
Available for Sale, Fair Value | $ 25 | $ 2,025 |
Investment Securities - Schedul
Investment Securities - Schedule of Amortized Cost and Fair Value of Debt Securities by Contractual Maturity (Detail) $ in Thousands | Jun. 30, 2015USD ($) |
Available-for-sale Securities, Debt Maturities, Amortized Cost Basis, Fiscal Year Maturity [Abstract] | |
Due in one year or less, Amortized Cost | $ 6,506 |
Due after one year through five years, Amortized Cost | 49,366 |
Due after five years through ten years, Amortized Cost | 64,198 |
Due after ten years, Amortized Cost | 259,078 |
Total, Amortized Cost | 379,148 |
Due in one year or less, Fair Value | 6,516 |
Due after one year through five years, Fair Value | 49,771 |
Due after five years through ten years, Fair Value | 64,601 |
Due after ten years, Fair Value | 260,462 |
Total, Fair Value | $ 381,350 |
Investment Securities - Additio
Investment Securities - Additional Information (Detail) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Amortized Cost and Fair Value Debt Securities [Abstract] | ||||
Realized gross gains | $ 194,000 | $ 398,000 | $ 247,000 | |
Proceeds from the sale of investment securities | 2,600,000 | $ 100 | 5,900,000 | 8,100,000 |
Realized gross losses | $ 0 | $ 10,000 | $ 0 | $ 21,000 |
Unrealized Losses on Securiti38
Unrealized Losses on Securities - Schedule of Gross Unrealized Losses and Fair Value (Detail) $ in Thousands | Jun. 30, 2015USD ($)Security | Sep. 30, 2014USD ($)Security |
Schedule of Available-for-sale Securities [Line Items] | ||
Number of Securities | Security | 89 | 106 |
Fair Value, Less than Twelve Months | $ 66,003 | $ 89,840 |
Gross Unrealized Losses, Less than Twelve Months | (686) | (477) |
Fair Value, Twelve Months or Greater | 53,932 | 95,245 |
Gross Unrealized Losses, Twelve Months or Greater | (1,540) | (3,233) |
Fair Value, Total | 119,935 | 185,085 |
Gross Unrealized Losses, Total | $ (2,226) | $ (3,710) |
Fannie Mae [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Number of Securities | Security | 26 | 39 |
Fair Value, Less than Twelve Months | $ 15,652 | $ 34,377 |
Gross Unrealized Losses, Less than Twelve Months | (129) | (164) |
Fair Value, Twelve Months or Greater | 24,511 | 33,249 |
Gross Unrealized Losses, Twelve Months or Greater | (784) | (1,386) |
Fair Value, Total | 40,163 | 67,626 |
Gross Unrealized Losses, Total | $ (913) | $ (1,550) |
Freddie Mac [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Number of Securities | Security | 21 | 36 |
Fair Value, Less than Twelve Months | $ 15,946 | $ 38,210 |
Gross Unrealized Losses, Less than Twelve Months | (101) | (216) |
Fair Value, Twelve Months or Greater | 16,010 | 29,269 |
Gross Unrealized Losses, Twelve Months or Greater | (461) | (1,061) |
Fair Value, Total | 31,956 | 67,479 |
Gross Unrealized Losses, Total | $ (562) | $ (1,277) |
Governmental National Mortgage Association [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Number of Securities | Security | 4 | 5 |
Fair Value, Less than Twelve Months | $ 1,244 | $ 4,127 |
Gross Unrealized Losses, Less than Twelve Months | (7) | (22) |
Fair Value, Twelve Months or Greater | 2,399 | 2,981 |
Gross Unrealized Losses, Twelve Months or Greater | (70) | (139) |
Fair Value, Total | 3,643 | 7,108 |
Gross Unrealized Losses, Total | $ (77) | $ (161) |
Other Mortgage-Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Number of Securities | Security | 3 | 3 |
Fair Value, Twelve Months or Greater | $ 2,651 | $ 2,780 |
Gross Unrealized Losses, Twelve Months or Greater | (12) | (15) |
Fair Value, Total | 2,651 | 2,780 |
Gross Unrealized Losses, Total | $ (12) | $ (15) |
Obligations of States and Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Number of Securities | Security | 14 | 5 |
Fair Value, Less than Twelve Months | $ 9,172 | |
Gross Unrealized Losses, Less than Twelve Months | (195) | |
Fair Value, Twelve Months or Greater | 4,581 | $ 7,207 |
Gross Unrealized Losses, Twelve Months or Greater | (181) | (258) |
Fair Value, Total | 13,753 | 7,207 |
Gross Unrealized Losses, Total | $ (376) | $ (258) |
U.S. Government Agency Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Number of Securities | Security | 4 | 11 |
Fair Value, Less than Twelve Months | $ 7,986 | $ 8,004 |
Gross Unrealized Losses, Less than Twelve Months | (13) | (25) |
Fair Value, Twelve Months or Greater | 1,000 | 18,629 |
Gross Unrealized Losses, Twelve Months or Greater | (1) | (358) |
Fair Value, Total | 8,986 | 26,633 |
Gross Unrealized Losses, Total | $ (14) | $ (383) |
Corporate Obligations [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Number of Securities | Security | 10 | 5 |
Fair Value, Less than Twelve Months | $ 9,906 | $ 3,142 |
Gross Unrealized Losses, Less than Twelve Months | (214) | (32) |
Fair Value, Twelve Months or Greater | 979 | 1,130 |
Gross Unrealized Losses, Twelve Months or Greater | (22) | (16) |
Fair Value, Total | 10,885 | 4,272 |
Gross Unrealized Losses, Total | $ (236) | $ (48) |
Other Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Number of Securities | Security | 7 | 2 |
Fair Value, Less than Twelve Months | $ 6,097 | $ 1,980 |
Gross Unrealized Losses, Less than Twelve Months | (27) | (18) |
Fair Value, Twelve Months or Greater | 1,801 | |
Gross Unrealized Losses, Twelve Months or Greater | (9) | |
Fair Value, Total | 7,898 | 1,980 |
Gross Unrealized Losses, Total | $ (36) | $ (18) |
Loans Receivable, Net and All39
Loans Receivable, Net and Allowance for Loan Losses - Summary of Loans Receivable (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Mar. 31, 2015 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Sep. 30, 2013 |
Real estate loans: | ||||||
Total Loans | $ 1,101,294 | $ 1,066,901 | ||||
Less allowance for loan losses | 8,767 | $ 8,668 | 8,634 | $ 8,836 | $ 8,662 | $ 8,064 |
Net loans | 1,092,527 | 1,058,267 | ||||
Residential Real Estate Loans [Member] | ||||||
Real estate loans: | ||||||
Total Loans | 618,198 | 654,152 | ||||
Less allowance for loan losses | 5,258 | 5,289 | 5,573 | 5,934 | 5,920 | 5,787 |
Construction Real Estate Loans [Member] | ||||||
Real estate loans: | ||||||
Total Loans | 1,151 | 1,367 | ||||
Commercial Real Estate Loans [Member] | ||||||
Real estate loans: | ||||||
Total Loans | 195,503 | 190,536 | ||||
Less allowance for loan losses | 708 | 843 | 663 | 581 | 1,003 | 946 |
Commercial Loans [Member] | ||||||
Real estate loans: | ||||||
Total Loans | 35,035 | 25,807 | ||||
Less allowance for loan losses | 641 | 635 | 528 | 593 | 369 | 337 |
Obligations of States and Political Subdivisions [Member] | ||||||
Real estate loans: | ||||||
Total Loans | 56,868 | 49,177 | ||||
Less allowance for loan losses | 199 | 87 | 163 | 116 | 106 | 130 |
Home Equity Loans and Lines of Credit [Member] | ||||||
Real estate loans: | ||||||
Total Loans | 40,975 | 41,387 | ||||
Less allowance for loan losses | 475 | 468 | 470 | 473 | 500 | 430 |
Auto Loans [Member] | ||||||
Real estate loans: | ||||||
Total Loans | 150,370 | 100,571 | ||||
Less allowance for loan losses | 1,333 | 1,023 | 459 | 56 | ||
Other [Member] | ||||||
Real estate loans: | ||||||
Total Loans | 3,194 | 3,904 | ||||
Less allowance for loan losses | $ 28 | $ 30 | $ 32 | $ 26 | $ 26 | $ 21 |
Loans Receivable, Net and All40
Loans Receivable, Net and Allowance for Loan Losses - Schedule of Loans Evaluated for Impairment (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Sep. 30, 2014 |
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | $ 1,101,294 | $ 1,066,901 |
Individually Evaluated for Impairment | 29,464 | 31,868 |
Collectively Evaluated for Impairment | 1,067,391 | 1,029,936 |
Loans Acquired with Deteriorated Credit Quality [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans Acquired with Deteriorated Credit Quality | 4,439 | 5,097 |
Residential Real Estate Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 618,198 | 654,152 |
Individually Evaluated for Impairment | 12,671 | 13,528 |
Collectively Evaluated for Impairment | 605,527 | 640,514 |
Residential Real Estate Loans [Member] | Loans Acquired with Deteriorated Credit Quality [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans Acquired with Deteriorated Credit Quality | 110 | |
Commercial Real Estate Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 195,503 | 190,536 |
Individually Evaluated for Impairment | 15,627 | 17,517 |
Collectively Evaluated for Impairment | 175,511 | 168,292 |
Commercial Real Estate Loans [Member] | Loans Acquired with Deteriorated Credit Quality [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans Acquired with Deteriorated Credit Quality | 4,365 | 4,727 |
Commercial Real Estate Loans [Member] | Construction Real Estate Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 1,151 | 1,367 |
Collectively Evaluated for Impairment | 1,151 | 1,367 |
Commercial Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 35,035 | 25,807 |
Individually Evaluated for Impairment | 219 | 456 |
Collectively Evaluated for Impairment | 34,742 | 25,088 |
Commercial Loans [Member] | Loans Acquired with Deteriorated Credit Quality [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans Acquired with Deteriorated Credit Quality | 74 | 263 |
Obligations of States and Political Subdivisions [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 56,868 | 49,177 |
Collectively Evaluated for Impairment | 56,868 | 49,177 |
Home Equity Loans and Lines of Credit [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 40,975 | 41,387 |
Individually Evaluated for Impairment | 607 | 266 |
Collectively Evaluated for Impairment | 40,368 | 41,124 |
Home Equity Loans and Lines of Credit [Member] | Loans Acquired with Deteriorated Credit Quality [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans Acquired with Deteriorated Credit Quality | (3) | |
Auto Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 150,370 | 100,571 |
Individually Evaluated for Impairment | 340 | 101 |
Collectively Evaluated for Impairment | 150,030 | 100,470 |
Other [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 3,194 | 3,904 |
Collectively Evaluated for Impairment | $ 3,194 | $ 3,904 |
Loans Receivable, Net and All41
Loans Receivable, Net and Allowance for Loan Losses - Schedule of Investment and Unpaid Principal Balances for Impaired Loans (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Sep. 30, 2014 | |
Financing Receivable, Impaired [Line Items] | |||||
Recorded Investment | $ 33,903 | $ 33,903 | $ 36,965 | ||
Unpaid Principal Balance | 37,317 | 37,317 | 40,658 | ||
Associated Allowance | 578 | 578 | 468 | ||
Average Recorded Investment | 33,483 | $ 37,954 | 34,989 | $ 37,184 | |
Interest Income Recognized | 290 | 337 | 889 | 927 | |
With no Specific Allowance Recorded [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Recorded Investment | 30,206 | 30,206 | 33,647 | ||
Unpaid Principal Balance | 33,095 | 33,095 | 36,908 | ||
Average Recorded Investment | 30,529 | 33,133 | 31,994 | 31,846 | |
Interest Income Recognized | 285 | 316 | 839 | 848 | |
With an Allowance Recorded [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Recorded Investment | 3,697 | 3,697 | 3,318 | ||
Unpaid Principal Balance | 4,222 | 4,222 | 3,750 | ||
Associated Allowance | 578 | 578 | 468 | ||
Average Recorded Investment | 2,954 | 4,821 | 2,995 | 5,338 | |
Interest Income Recognized | 5 | 21 | 50 | 79 | |
Residential Real Estate Loans [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Recorded Investment | 12,671 | 12,671 | 13,638 | ||
Unpaid Principal Balance | 14,992 | 14,992 | 16,222 | ||
Associated Allowance | 432 | 432 | 334 | ||
Average Recorded Investment | 12,219 | 12,795 | 12,869 | 12,981 | |
Interest Income Recognized | 62 | 113 | 267 | 321 | |
Residential Real Estate Loans [Member] | With no Specific Allowance Recorded [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Recorded Investment | 9,378 | 9,378 | 11,030 | ||
Unpaid Principal Balance | 11,231 | 11,231 | 13,225 | ||
Average Recorded Investment | 9,522 | 8,989 | 10,334 | 9,556 | |
Interest Income Recognized | 59 | 92 | 222 | 242 | |
Residential Real Estate Loans [Member] | With an Allowance Recorded [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Recorded Investment | 3,293 | 3,293 | 2,608 | ||
Unpaid Principal Balance | 3,761 | 3,761 | 2,997 | ||
Associated Allowance | 432 | 432 | 334 | ||
Average Recorded Investment | 2,697 | 3,806 | 2,535 | 3,425 | |
Interest Income Recognized | 3 | 21 | 45 | 79 | |
Commercial Real Estate Loans [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Recorded Investment | 19,992 | 19,992 | 22,244 | ||
Unpaid Principal Balance | 20,963 | 20,963 | 23,105 | ||
Associated Allowance | 1 | 1 | 84 | ||
Average Recorded Investment | 20,298 | 21,618 | 21,072 | 22,137 | |
Interest Income Recognized | 222 | 179 | 606 | 553 | |
Commercial Real Estate Loans [Member] | With no Specific Allowance Recorded [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Recorded Investment | 19,847 | 19,847 | 21,587 | ||
Unpaid Principal Balance | 20,789 | 20,789 | 22,428 | ||
Average Recorded Investment | 20,152 | 20,640 | 20,729 | 20,241 | |
Interest Income Recognized | 222 | 179 | 606 | 553 | |
Commercial Real Estate Loans [Member] | With an Allowance Recorded [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Recorded Investment | 145 | 145 | 657 | ||
Unpaid Principal Balance | 174 | 174 | 677 | ||
Associated Allowance | 1 | 1 | 84 | ||
Average Recorded Investment | 146 | 978 | 343 | 1,896 | |
Commercial Loans [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Recorded Investment | 293 | 293 | 719 | ||
Unpaid Principal Balance | 305 | 305 | 777 | ||
Average Recorded Investment | 306 | 3,289 | 550 | 1,764 | |
Interest Income Recognized | 2 | 43 | 6 | 49 | |
Commercial Loans [Member] | With no Specific Allowance Recorded [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Recorded Investment | 293 | 293 | 719 | ||
Unpaid Principal Balance | 305 | 305 | 777 | ||
Average Recorded Investment | 306 | 3,289 | 550 | 1,764 | |
Interest Income Recognized | 2 | 43 | 6 | 49 | |
Home Equity Loans and Lines of Credit [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Recorded Investment | 607 | 607 | 263 | ||
Unpaid Principal Balance | 639 | 639 | 453 | ||
Associated Allowance | 69 | 69 | 50 | ||
Average Recorded Investment | 484 | 252 | 341 | 302 | |
Interest Income Recognized | 2 | 2 | 4 | 4 | |
Home Equity Loans and Lines of Credit [Member] | With no Specific Allowance Recorded [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Recorded Investment | 529 | 529 | 210 | ||
Unpaid Principal Balance | 533 | 533 | 377 | ||
Average Recorded Investment | 433 | 215 | 307 | 285 | |
Interest Income Recognized | 2 | 2 | 4 | 4 | |
Home Equity Loans and Lines of Credit [Member] | With an Allowance Recorded [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Recorded Investment | 78 | 78 | 53 | ||
Unpaid Principal Balance | 106 | 106 | 76 | ||
Associated Allowance | 69 | 69 | 50 | ||
Average Recorded Investment | 51 | $ 37 | 34 | $ 17 | |
Auto Loans [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Recorded Investment | 340 | 340 | 101 | ||
Unpaid Principal Balance | 418 | 418 | 101 | ||
Associated Allowance | 76 | 76 | |||
Average Recorded Investment | 176 | 157 | |||
Interest Income Recognized | 2 | 6 | |||
Auto Loans [Member] | With no Specific Allowance Recorded [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Recorded Investment | 159 | 159 | 101 | ||
Unpaid Principal Balance | 237 | 237 | $ 101 | ||
Average Recorded Investment | 116 | 74 | |||
Interest Income Recognized | 1 | ||||
Auto Loans [Member] | With an Allowance Recorded [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Recorded Investment | 181 | 181 | |||
Unpaid Principal Balance | 181 | 181 | |||
Associated Allowance | 76 | 76 | |||
Average Recorded Investment | 60 | 83 | |||
Interest Income Recognized | $ 2 | $ 5 |
Loans Receivable, Net and All42
Loans Receivable, Net and Allowance for Loan Losses - Additional Information (Detail) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Receivables [Abstract] | ||||
Criteria in internal rating system | Ten-point | |||
Categories considered as not criticized | Six | |||
Days past due over which loans are considered as substandard | 90 days | |||
Minimum internal review amount | $ 500,000 | $ 500,000 | ||
Minimum external review amount | 1,000,000 | 1,000,000 | ||
Troubled debt restructurings granted terms and rate concession | $ 208,000 | 1,600,000 | $ 883,000 | |
Troubled debt restructurings granted terms concession | 28,000 | 607,000 | 607,000 | |
Troubled debt restructurings, loan modified, defaulted within one year of modification. | $ 68,000 | $ 712,000 | ||
Troubled debt restructurings, loan modifications | $ 0 | $ 0 |
Loans Receivable, Net and All43
Loans Receivable, Net and Allowance for Loan Losses - Classes of Loan Portfolio, Internal Risk Rating System (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Sep. 30, 2014 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loan, total | $ 287,406 | $ 265,520 |
Commercial Real Estate Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loan, total | 195,503 | 190,536 |
Commercial Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loan, total | 35,035 | 25,807 |
Obligations of States and Political Subdivisions [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loan, total | 56,868 | 49,177 |
Pass [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loan, total | 258,695 | 234,800 |
Pass [Member] | Commercial Real Estate Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loan, total | 169,502 | 160,749 |
Pass [Member] | Commercial Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loan, total | 32,325 | 24,874 |
Pass [Member] | Obligations of States and Political Subdivisions [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loan, total | 56,868 | 49,177 |
Special Mention [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loan, total | 5,677 | 8,365 |
Special Mention [Member] | Commercial Real Estate Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loan, total | 3,382 | 8,020 |
Special Mention [Member] | Commercial Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loan, total | 2,295 | 345 |
Substandard [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loan, total | 23,034 | 22,057 |
Substandard [Member] | Commercial Real Estate Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loan, total | 22,619 | 21,469 |
Substandard [Member] | Commercial Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loan, total | $ 415 | 588 |
Doubtful [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loan, total | 298 | |
Doubtful [Member] | Commercial Real Estate Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loan, total | $ 298 |
Loans Receivable, Net and All44
Loans Receivable, Net and Allowance for Loan Losses - Schedule of Performing or Non-Performing Loans (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Sep. 30, 2014 |
Financing Receivable, Recorded Investment [Line Items] | ||
Total | $ 813,888 | $ 801,381 |
Residential Real Estate Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 618,198 | 654,152 |
Commercial Real Estate Loans [Member] | Construction Real Estate Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 1,151 | 1,367 |
Home Equity Loans and Lines of Credit [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 40,975 | 41,387 |
Auto Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 150,370 | 100,571 |
Other [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 3,194 | 3,904 |
Performing [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 802,853 | 791,324 |
Performing [Member] | Residential Real Estate Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 608,002 | 644,374 |
Performing [Member] | Commercial Real Estate Loans [Member] | Construction Real Estate Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 1,151 | 1,367 |
Performing [Member] | Home Equity Loans and Lines of Credit [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 40,281 | 41,128 |
Performing [Member] | Auto Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 150,263 | 100,571 |
Performing [Member] | Other [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 3,156 | 3,884 |
Non-Performing [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 11,035 | 10,057 |
Non-Performing [Member] | Residential Real Estate Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 10,196 | 9,778 |
Non-Performing [Member] | Home Equity Loans and Lines of Credit [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 694 | 259 |
Non-Performing [Member] | Auto Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 107 | |
Non-Performing [Member] | Other [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | $ 38 | $ 20 |
Loans Receivable, Net and All45
Loans Receivable, Net and Allowance for Loan Losses - Classes of Loan Portfolio Summarized by Aging Categories (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Sep. 30, 2014 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | $ 1,074,749 | $ 1,039,718 |
31-60 Days Past Due | 4,212 | 3,693 |
61-90 Days Past Due | 1,633 | 1,578 |
Greater than 90 Days Past Due and still accruing | 0 | 0 |
Non-Accrual | 20,700 | 21,912 |
Total Past Due and Non-Accrual | 26,545 | 27,183 |
Total Loans | 1,101,294 | 1,066,901 |
Residential Real Estate Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 604,655 | 640,583 |
31-60 Days Past Due | 1,930 | 2,398 |
61-90 Days Past Due | 1,417 | 1,393 |
Greater than 90 Days Past Due and still accruing | 0 | 0 |
Non-Accrual | 10,196 | 9,778 |
Total Past Due and Non-Accrual | 13,543 | 13,569 |
Total Loans | 618,198 | 654,152 |
Construction [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 1,151 | 1,367 |
Greater than 90 Days Past Due and still accruing | 0 | 0 |
Total Loans | 1,151 | 1,367 |
Commercial Real Estate Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 185,696 | 179,319 |
31-60 Days Past Due | 300 | 516 |
61-90 Days Past Due | 89 | |
Greater than 90 Days Past Due and still accruing | 0 | 0 |
Non-Accrual | 9,507 | 10,612 |
Total Past Due and Non-Accrual | 9,807 | 11,217 |
Total Loans | 195,503 | 190,536 |
Commercial Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 34,496 | 24,424 |
31-60 Days Past Due | 370 | 110 |
61-90 Days Past Due | 11 | 30 |
Greater than 90 Days Past Due and still accruing | 0 | 0 |
Non-Accrual | 158 | 1,243 |
Total Past Due and Non-Accrual | 539 | 1,383 |
Total Loans | 35,035 | 25,807 |
Obligations of States and Political Subdivisions [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 56,868 | 49,159 |
31-60 Days Past Due | 18 | |
Greater than 90 Days Past Due and still accruing | 0 | 0 |
Total Past Due and Non-Accrual | 18 | |
Total Loans | 56,868 | 49,177 |
Home Equity Loans and Lines of Credit [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 40,148 | 40,870 |
31-60 Days Past Due | 63 | 225 |
61-90 Days Past Due | 70 | 33 |
Greater than 90 Days Past Due and still accruing | 0 | 0 |
Non-Accrual | 694 | 259 |
Total Past Due and Non-Accrual | 827 | 517 |
Total Loans | 40,975 | 41,387 |
Auto Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 148,588 | 100,112 |
31-60 Days Past Due | 1,549 | 426 |
61-90 Days Past Due | 126 | 33 |
Greater than 90 Days Past Due and still accruing | 0 | 0 |
Non-Accrual | 107 | |
Total Past Due and Non-Accrual | 1,782 | 459 |
Total Loans | 150,370 | 100,571 |
Other [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 3,147 | 3,884 |
61-90 Days Past Due | 9 | |
Greater than 90 Days Past Due and still accruing | 0 | 0 |
Non-Accrual | 38 | 20 |
Total Past Due and Non-Accrual | 47 | 20 |
Total Loans | $ 3,194 | $ 3,904 |
Loans Receivable, Net and All46
Loans Receivable, Net and Allowance for Loan Losses - Summary of Primary Segments of ALL (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Balance, Beginning of period | $ 8,668 | $ 8,662 | $ 8,634 | $ 8,064 |
Charge-offs | (537) | (365) | (1,561) | (1,449) |
Recoveries | 111 | 39 | 194 | 221 |
Provision | 525 | 500 | 1,500 | 2,000 |
Balance, End of period | 8,767 | 8,836 | 8,767 | 8,836 |
Residential Real Estate Loans [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Balance, Beginning of period | 5,289 | 5,920 | 5,573 | 5,787 |
Charge-offs | (390) | (332) | (1,150) | (1,255) |
Recoveries | 34 | 22 | 112 | |
Provision | 359 | 312 | 813 | 1,290 |
Balance, End of period | 5,258 | 5,934 | 5,258 | 5,934 |
Commercial Real Estate Loans [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Balance, Beginning of period | 843 | 1,003 | 663 | 946 |
Charge-offs | (23) | (53) | (73) | |
Recoveries | 54 | 85 | 83 | |
Provision | (189) | (399) | 13 | (375) |
Balance, End of period | 708 | 581 | 708 | 581 |
Commercial Real Estate Loans [Member] | Construction Real Estate Loans [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Balance, Beginning of period | 17 | 26 | 11 | 20 |
Provision | (8) | (2) | (2) | 4 |
Balance, End of period | 9 | 24 | 9 | 24 |
Commercial Loans [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Balance, Beginning of period | 635 | 369 | 528 | 337 |
Charge-offs | (3) | (30) | (48) | |
Recoveries | 11 | 2 | 20 | 14 |
Provision | (2) | 222 | 123 | 290 |
Balance, End of period | 641 | 593 | 641 | 593 |
Obligations of States and Political Subdivisions [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Balance, Beginning of period | 87 | 106 | 163 | 130 |
Provision | 112 | 10 | 36 | (14) |
Balance, End of period | 199 | 116 | 199 | 116 |
Home Equity Loans and Lines of Credit [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Balance, Beginning of period | 468 | 500 | 470 | 430 |
Charge-offs | (3) | (10) | (22) | (73) |
Recoveries | 12 | |||
Provision | 10 | (17) | 15 | 116 |
Balance, End of period | 475 | 473 | 475 | 473 |
Auto Loans [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Balance, Beginning of period | 1,023 | 459 | ||
Charge-offs | (136) | (301) | ||
Recoveries | 40 | 49 | ||
Provision | 406 | 56 | 1,126 | 56 |
Balance, End of period | 1,333 | 56 | 1,333 | 56 |
Other [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Balance, Beginning of period | 30 | 26 | 32 | 21 |
Charge-offs | (5) | (5) | ||
Recoveries | 6 | 3 | 6 | 12 |
Provision | (3) | (3) | (5) | (7) |
Balance, End of period | 28 | 26 | 28 | 26 |
Unallocated [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Balance, Beginning of period | 276 | 712 | 735 | 393 |
Provision | (160) | 321 | (619) | 640 |
Balance, End of period | $ 116 | $ 1,033 | $ 116 | $ 1,033 |
Loans Receivable, Net and All47
Loans Receivable, Net and Allowance for Loan Losses - Summary of Loans Individually and Collectively Evaluated for Impairment (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Mar. 31, 2015 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Sep. 30, 2013 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Individually evaluated for impairment | $ 578 | $ 468 | ||||
Collectively evaluated for impairment | 8,189 | 8,166 | ||||
Balance, End of period | 8,767 | $ 8,668 | 8,634 | $ 8,836 | $ 8,662 | $ 8,064 |
Residential Real Estate Loans [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Individually evaluated for impairment | 432 | 334 | ||||
Collectively evaluated for impairment | 4,826 | 5,239 | ||||
Balance, End of period | 5,258 | 5,289 | 5,573 | 5,934 | 5,920 | 5,787 |
Commercial Real Estate Loans [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Individually evaluated for impairment | 1 | 84 | ||||
Collectively evaluated for impairment | 707 | 579 | ||||
Balance, End of period | 708 | 843 | 663 | 581 | 1,003 | 946 |
Commercial Real Estate Loans [Member] | Construction Real Estate Loans [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Collectively evaluated for impairment | 9 | 11 | ||||
Balance, End of period | 9 | 17 | 11 | 24 | 26 | 20 |
Commercial Loans [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Collectively evaluated for impairment | 641 | 528 | ||||
Balance, End of period | 641 | 635 | 528 | 593 | 369 | 337 |
Obligations of States and Political Subdivisions [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Collectively evaluated for impairment | 199 | 163 | ||||
Balance, End of period | 199 | 87 | 163 | 116 | 106 | 130 |
Home Equity Loans and Lines of Credit [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Individually evaluated for impairment | 69 | 50 | ||||
Collectively evaluated for impairment | 406 | 420 | ||||
Balance, End of period | 475 | 468 | 470 | 473 | 500 | 430 |
Auto Loans [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Individually evaluated for impairment | 76 | |||||
Collectively evaluated for impairment | 1,257 | 459 | ||||
Balance, End of period | 1,333 | 1,023 | 459 | 56 | ||
Other [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Collectively evaluated for impairment | 28 | 32 | ||||
Balance, End of period | 28 | 30 | 32 | 26 | 26 | 21 |
Unallocated [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Collectively evaluated for impairment | 116 | 735 | ||||
Balance, End of period | $ 116 | $ 276 | $ 735 | $ 1,033 | $ 712 | $ 393 |
Loans Receivable, Net and All48
Loans Receivable, Net and Allowance for Loan Losses - Summary of Troubled Debt Restructuring Granted (Detail) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Jun. 30, 2015USD ($)Contract | Jun. 30, 2014USD ($)Contract | Jun. 30, 2015USD ($)Contract | Jun. 30, 2014USD ($)Contract | |
Real Estate Loans [Member] | Residential [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 3 | 2 | 12 | 9 |
Pre-Modification Outstanding Recorded Investment | $ 695 | $ 236 | $ 2,115 | $ 1,293 |
Post-Modification Outstanding Recorded Investment | $ 695 | $ 236 | $ 2,115 | $ 1,293 |
Real Estate Loans [Member] | Commercial Real Estate Loans [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 1 | |||
Pre-Modification Outstanding Recorded Investment | $ 197 | |||
Post-Modification Outstanding Recorded Investment | $ 197 | |||
Home Equity Loans and Lines of Credit [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 1 | 2 | ||
Pre-Modification Outstanding Recorded Investment | $ 25 | $ 175 | ||
Post-Modification Outstanding Recorded Investment | $ 25 | $ 175 | ||
Troubled Debt Restructurings [Member] | ||||
Financing Receivable, Modifications [Line Items] | ||||
Number of Contracts | Contract | 4 | 2 | 14 | 10 |
Pre-Modification Outstanding Recorded Investment | $ 720 | $ 236 | $ 2,290 | $ 1,490 |
Post-Modification Outstanding Recorded Investment | $ 720 | $ 236 | $ 2,290 | $ 1,490 |
Deposits - Schedule of Deposits
Deposits - Schedule of Deposits by Major Classifications (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Sep. 30, 2014 |
Banking and Thrift [Abstract] | ||
Non-interest bearing demand accounts | $ 103,419 | $ 70,048 |
Interest bearing demand accounts | 98,498 | 163,936 |
Money market accounts | 155,140 | 170,158 |
Savings and club accounts | 131,295 | 122,734 |
Certificates of deposit | 587,201 | 607,013 |
Total | $ 1,075,553 | $ 1,133,889 |
Net Periodic Benefit Cost-Def50
Net Periodic Benefit Cost-Defined Benefit Plan - Summary of the Components of Net Periodic Benefit Cost (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Compensation and Retirement Disclosure [Abstract] | ||||
Service Cost | $ 219 | $ 144 | $ 655 | $ 433 |
Interest Cost | 207 | 191 | 619 | 572 |
Expected return on plan assets | (309) | (290) | (925) | (871) |
Amortization of unrecognized loss | 61 | 7 | 181 | 21 |
Net periodic benefit cost | $ 178 | $ 52 | $ 530 | $ 155 |
Net Periodic Benefit Cost-Def51
Net Periodic Benefit Cost-Defined Benefit Plan - Additional information (Detail) | 1 Months Ended |
Apr. 30, 2015USD ($) | |
Compensation and Retirement Disclosure [Abstract] | |
Contribution of bank | $ 500,000 |
Equity Incentive Plan - Additio
Equity Incentive Plan - Additional Information (Detail) - USD ($) | May. 20, 2015 | Jul. 22, 2014 | Apr. 01, 2013 | May. 23, 2008 | Jun. 30, 2015 | Jun. 30, 2014 |
Compensation Related Costs Disclosure [Line Items] | ||||||
Option vesting period | 5 years | |||||
Option expiration period | 10 years | |||||
Share-based compensation expense | $ 81,000 | $ 170,000 | ||||
Equity Incentive Plan [Member] | ||||||
Compensation Related Costs Disclosure [Line Items] | ||||||
Common stock issuance, Grant | 2,377,326 | |||||
2014 [Member] | ||||||
Compensation Related Costs Disclosure [Line Items] | ||||||
Outstanding nonvested restricted stock | 14,906 | |||||
2015 [Member] | ||||||
Compensation Related Costs Disclosure [Line Items] | ||||||
Outstanding nonvested restricted stock | 21,843 | |||||
Stock Option [Member] | ||||||
Compensation Related Costs Disclosure [Line Items] | ||||||
Number of available shares | 1,698,090 | |||||
Restricted Stock [Member] | ||||||
Compensation Related Costs Disclosure [Line Items] | ||||||
Number of available shares | 679,236 | |||||
Shares granted | 21,843 | 19,880 | 30,000 | 590,320 | ||
Restricted Stock [Member] | 2013 [Member] | ||||||
Compensation Related Costs Disclosure [Line Items] | ||||||
Restricted shares vesting period | 18 months | |||||
Restricted Stock [Member] | 2014 [Member] | ||||||
Compensation Related Costs Disclosure [Line Items] | ||||||
Restricted shares vesting period | 39 months | |||||
Remaining vesting period | 2 years 3 months | |||||
Expected future expense | $ 152,000 | |||||
Restricted Stock [Member] | 2015 [Member] | ||||||
Compensation Related Costs Disclosure [Line Items] | ||||||
Restricted shares vesting period | 40 months | |||||
Remaining vesting period | 3 years 3 months | |||||
Expected future expense | $ 271,000 | |||||
Non Qualified Stock Option [Member] | ||||||
Compensation Related Costs Disclosure [Line Items] | ||||||
Shares granted | 1,140,469 | |||||
Incentive Stock Option [Member] | ||||||
Compensation Related Costs Disclosure [Line Items] | ||||||
Shares granted | 317,910 |
Equity Incentive Plan - Schedul
Equity Incentive Plan - Schedule of Stock Option Activity (Detail) - USD ($) $ / shares in Units, $ in Thousands | Sep. 30, 2014 | Jun. 30, 2015 |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||
Outstanding, September 30, 2014 | 1,443,379 | |
Number of Stock Options, Granted | 0 | |
Number of Stock Options, Exercised | 0 | |
Number of Stock Options, Forfeited | (123,799) | |
Number of Stock Options, Outstanding, June 30, 2015 | 1,443,379 | 1,319,580 |
Number of Stock Options, Exercisable at year-end | 1,319,580 | |
Weighted-average Exercise Price, Outstanding, September 30, 2014 | $ 12.35 | |
Weighted-average Exercise Price, Granted | 0 | |
Weighted-average Exercise Price, Exercised | 0 | |
Weighted-average Exercise Price, Forfeited | 12.35 | |
Weighted-average Exercise Price, Outstanding, June 30, 2015 | $ 12.35 | 12.35 |
Weighted-average Exercise Price, Exercisable at year-end | $ 12.35 | |
Weighted-average Remaining Contractual Term (in years), Outstanding | 3 years 8 months 1 day | 2 years 11 months 1 day |
Weighted-average Remaining Contractual Term (in years), Granted | ||
Weighted-average Remaining Contractual Term (in years), Exercised | ||
Weighted-average Remaining Contractual Term (in years), Forfeited | 2 years 11 months 1 day | |
Weighted-average Remaining Contractual Term (in years), Outstanding | 3 years 8 months 1 day | 2 years 11 months 1 day |
Weighted-average Remaining Contractual Term (in years), Exercisable, Ending Balance | 2 years 11 months 1 day | |
Aggregate Intrinsic Value, Granted | $ 0 | |
Aggregate Intrinsic Value, Exercised | 0 | |
Aggregate Intrinsic Value, Forfeited | 0 | |
Aggregate Intrinsic Value, Outstanding, Ending Balance | 673,000 | |
Aggregate Intrinsic Value, Exercisable at year-end | $ 673,000 |
Equity Incentive Plan - Sched54
Equity Incentive Plan - Schedule of Restricted Stock Option Activity (Detail) - 9 months ended Jun. 30, 2015 - $ / shares | Total |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Number of Restricted Stock, Granted | 0 |
Number of Restricted Stock, Forfeited | 123,799 |
Weighted-average Grant Date Fair Value, Forfeited | $ 12.35 |
Restricted Stock [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Number of Restricted Stock, Nonvested at September 30, 2014 | 14,906 |
Number of Restricted Stock, Granted | 21,843 |
Number of Restricted Stock, Vested | 0 |
Number of Restricted Stock, Forfeited | 0 |
Number of Restricted Stock, Nonvested at June 30, 2015 | 36,749 |
Weighted-average Grant Date Fair Value, Nonvested at September 30, 2014 | $ 11.07 |
Weighted-average Grant Date Fair Value, Granted | 13.05 |
Weighted-average Grant Date Fair Value, Vested | 0 |
Weighted-average Grant Date Fair Value, Forfeited | 0 |
Weighted-average Grant Date Fair Value, Nonvested at June 30, 2015 | $ 12.25 |
Fair Value Measurement - Schedu
Fair Value Measurement - Schedule of Securities, Other Real Estate Owned and Impaired Loans Measured at Fair Value (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Sep. 30, 2014 |
Securities available-for-sale measured on a recurring basis | ||
Total debt and equity securities | $ 381,375 | $ 383,078 |
Foreclosed real estate owned measured on a non-recurring basis | 2,595 | 2,759 |
Impaired loans measured on a non-recurring basis | 33,325 | 36,497 |
Mortgage-Backed Securities [Member] | ||
Securities available-for-sale measured on a recurring basis | ||
Total debt and equity securities | 246,499 | 265,052 |
Obligations of States and Political Subdivisions [Member] | ||
Securities available-for-sale measured on a recurring basis | ||
Total debt and equity securities | 49,804 | 42,771 |
U.S. Government Agency Securities [Member] | ||
Securities available-for-sale measured on a recurring basis | ||
Total debt and equity securities | 44,512 | 47,630 |
Corporate Obligations [Member] | ||
Securities available-for-sale measured on a recurring basis | ||
Total debt and equity securities | 21,399 | 13,328 |
Trust-Preferred Securities [Member] | ||
Securities available-for-sale measured on a recurring basis | ||
Total debt and equity securities | 3,471 | 5,621 |
Other Debt Securities [Member] | ||
Securities available-for-sale measured on a recurring basis | ||
Total debt and equity securities | 15,665 | 6,651 |
Equity Securities [Member] | ||
Securities available-for-sale measured on a recurring basis | ||
Total debt and equity securities | 25 | 2,025 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Securities available-for-sale measured on a recurring basis | ||
Total debt and equity securities | 25 | 2,025 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Equity Securities [Member] | ||
Securities available-for-sale measured on a recurring basis | ||
Total debt and equity securities | 25 | 2,025 |
Significant Other Observable Inputs (Level 2) [Member] | ||
Securities available-for-sale measured on a recurring basis | ||
Total debt and equity securities | 377,120 | 378,823 |
Significant Other Observable Inputs (Level 2) [Member] | Mortgage-Backed Securities [Member] | ||
Securities available-for-sale measured on a recurring basis | ||
Total debt and equity securities | 246,499 | 265,052 |
Significant Other Observable Inputs (Level 2) [Member] | Obligations of States and Political Subdivisions [Member] | ||
Securities available-for-sale measured on a recurring basis | ||
Total debt and equity securities | 49,804 | 42,771 |
Significant Other Observable Inputs (Level 2) [Member] | U.S. Government Agency Securities [Member] | ||
Securities available-for-sale measured on a recurring basis | ||
Total debt and equity securities | 44,512 | 47,630 |
Significant Other Observable Inputs (Level 2) [Member] | Corporate Obligations [Member] | ||
Securities available-for-sale measured on a recurring basis | ||
Total debt and equity securities | 19,399 | 13,328 |
Significant Other Observable Inputs (Level 2) [Member] | Trust-Preferred Securities [Member] | ||
Securities available-for-sale measured on a recurring basis | ||
Total debt and equity securities | 1,741 | 3,891 |
Significant Other Observable Inputs (Level 2) [Member] | Other Debt Securities [Member] | ||
Securities available-for-sale measured on a recurring basis | ||
Total debt and equity securities | 15,165 | 6,151 |
Significant Unobservable Inputs (Level 3) [Member] | ||
Securities available-for-sale measured on a recurring basis | ||
Total debt and equity securities | 4,230 | 2,230 |
Foreclosed real estate owned measured on a non-recurring basis | 2,595 | 2,759 |
Impaired loans measured on a non-recurring basis | 33,325 | 36,497 |
Significant Unobservable Inputs (Level 3) [Member] | Corporate Obligations [Member] | ||
Securities available-for-sale measured on a recurring basis | ||
Total debt and equity securities | 2,000 | |
Significant Unobservable Inputs (Level 3) [Member] | Trust-Preferred Securities [Member] | ||
Securities available-for-sale measured on a recurring basis | ||
Total debt and equity securities | 1,730 | 1,730 |
Significant Unobservable Inputs (Level 3) [Member] | Other Debt Securities [Member] | ||
Securities available-for-sale measured on a recurring basis | ||
Total debt and equity securities | $ 500 | $ 500 |
Fair Value Measurement - Sche56
Fair Value Measurement - Schedule of Changes in Fair Value of Level III Investments (Detail) - Significant Unobservable Inputs (Level 3) [Member] - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Beginning balance | $ 4,240 | $ 1,830 | $ 2,230 | $ 1,800 |
Purchases, sales, issuances, settlements, net | 2,000 | |||
Total unrealized gain: | ||||
Included in earnings | 0 | 0 | 0 | 0 |
Included in other comprehensive income | (10) | 30 | ||
Transfers in and/or out of Level III | 0 | 0 | 0 | 0 |
Ending balance | $ 4,230 | $ 1,830 | $ 4,230 | $ 1,830 |
Fair Value Measurement - Additi
Fair Value Measurement - Additional Information (Detail) | 9 Months Ended | 12 Months Ended |
Jun. 30, 2015USD ($)SecurityLoan | Sep. 30, 2014USD ($)SecurityLoan | |
Fair Value Disclosures [Abstract] | ||
Number of impaired loans | SecurityLoan | 246 | 264 |
Impaired loans, carrying value | $ 33,900,000 | $ 37,000,000 |
Impaired loans, valuation allowance | 578,000 | 468,000 |
Impaired loans, net fair value | $ 33,300,000 | $ 36,500,000 |
Fair Value Measurement - Summar
Fair Value Measurement - Summary of Additional Quantitative Information about Assets Measured at Fair Value on Nonrecurring Basis (Detail) - USD ($) $ in Thousands | 9 Months Ended | |
Jun. 30, 2015 | Sep. 30, 2014 | |
Impaired Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value Estimate | $ 33,325 | $ 36,497 |
Unobservable Input | Appraisal adjustments | |
Fair value input appraisal adjustments | 22.70% | 23.00% |
Impaired Loans [Member] | Minimum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value input appraisal adjustments | 0.00% | 0.00% |
Impaired Loans [Member] | Maximum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value input appraisal adjustments | 50.00% | 35.00% |
Foreclosed Real Estate Owned [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value Estimate | $ 2,595 | $ 2,759 |
Unobservable Input | Appraisal adjustments | |
Fair value input appraisal adjustments | 21.10% | 21.20% |
Foreclosed Real Estate Owned [Member] | Minimum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value input appraisal adjustments | 19.00% | 19.00% |
Foreclosed Real Estate Owned [Member] | Maximum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value input appraisal adjustments | 30.00% | 35.00% |
Appraisal of Collateral [Member] | Impaired Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Valuation Techniques | Appraisal of collateral | |
Appraisal of Collateral [Member] | Foreclosed Real Estate Owned [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Valuation Techniques | Appraisal of collateral |
Fair Value Measurement - Sche59
Fair Value Measurement - Schedule of Fair Values of the Company's Financial Instruments (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Sep. 30, 2014 | Jun. 30, 2014 | Sep. 30, 2013 |
Financial assets: | ||||
Cash and cash equivalents | $ 17,692 | $ 22,301 | $ 23,480 | $ 26,648 |
Investment and mortgage backed securities available for sale | 381,375 | 383,078 | ||
Loans receivable, net | 1,092,527 | 1,058,267 | ||
Bank-owned life insurance | 30,421 | 29,720 | ||
Financial liabilities: | ||||
Deposits | 1,075,553 | 1,133,889 | ||
Short-term borrowings | 120,856 | 108,020 | ||
Other borrowings | 208,805 | 151,300 | ||
Advances by borrowers for taxes and insurance | 11,617 | 4,093 | ||
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||||
Financial assets: | ||||
Investment and mortgage backed securities available for sale | 25 | 2,025 | ||
Significant Other Observable Inputs (Level 2) [Member] | ||||
Financial assets: | ||||
Investment and mortgage backed securities available for sale | 377,120 | 378,823 | ||
Significant Unobservable Inputs (Level 3) [Member] | ||||
Financial assets: | ||||
Investment and mortgage backed securities available for sale | 4,230 | 2,230 | ||
Carrying Value [Member] | ||||
Financial assets: | ||||
Cash and cash equivalents | 17,692 | 22,301 | ||
Investment and mortgage backed securities available for sale | 381,375 | 383,078 | ||
Loans receivable, net | 1,092,527 | 1,058,267 | ||
Accrued interest receivable | 5,115 | 5,061 | ||
Regulatory stock | 14,537 | 14,284 | ||
Mortgage servicing rights | 478 | 688 | ||
Bank-owned life insurance | 30,421 | 29,720 | ||
Financial liabilities: | ||||
Deposits | 1,075,553 | 1,133,889 | ||
Short-term borrowings | 120,856 | 108,020 | ||
Other borrowings | 208,805 | 151,300 | ||
Advances by borrowers for taxes and insurance | 11,617 | 4,093 | ||
Accrued interest payable | 930 | 831 | ||
Estimated Fair Value [Member] | ||||
Financial assets: | ||||
Cash and cash equivalents | 17,692 | 22,301 | ||
Investment and mortgage backed securities available for sale | 381,375 | 383,078 | ||
Loans receivable, net | 1,109,147 | 1,077,585 | ||
Accrued interest receivable | 5,115 | 5,061 | ||
Regulatory stock | 14,537 | 14,284 | ||
Mortgage servicing rights | 478 | 688 | ||
Bank-owned life insurance | 30,421 | 29,720 | ||
Financial liabilities: | ||||
Deposits | 1,078,475 | 1,135,812 | ||
Short-term borrowings | 120,856 | 108,020 | ||
Other borrowings | 209,841 | 151,617 | ||
Advances by borrowers for taxes and insurance | 11,617 | 4,093 | ||
Accrued interest payable | 930 | 831 | ||
Estimated Fair Value [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||||
Financial assets: | ||||
Cash and cash equivalents | 17,692 | 22,301 | ||
Investment and mortgage backed securities available for sale | 25 | 2,025 | ||
Accrued interest receivable | 5,115 | 5,061 | ||
Regulatory stock | 14,537 | 14,284 | ||
Bank-owned life insurance | 30,421 | 29,720 | ||
Financial liabilities: | ||||
Deposits | 488,352 | 526,876 | ||
Short-term borrowings | 120,856 | 108,020 | ||
Advances by borrowers for taxes and insurance | 11,617 | 4,093 | ||
Accrued interest payable | 930 | 831 | ||
Estimated Fair Value [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||||
Financial assets: | ||||
Investment and mortgage backed securities available for sale | 377,120 | 378,823 | ||
Estimated Fair Value [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||||
Financial assets: | ||||
Investment and mortgage backed securities available for sale | 4,230 | 2,230 | ||
Loans receivable, net | 1,109,147 | 1,077,585 | ||
Mortgage servicing rights | 478 | 688 | ||
Financial liabilities: | ||||
Deposits | 590,123 | 608,936 | ||
Other borrowings | $ 209,841 | $ 151,617 |
Accumulated Other Comprehensi60
Accumulated Other Comprehensive Income/(Loss) - Activity in Accumulated Other Comprehensive Income/(Loss) (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Schedule of Available-for-sale Securities [Line Items] | ||||
Beginning balance, Accumulated Other Comprehensive Income/(Loss) | $ 741 | $ (1,846) | $ (2,579) | $ (1,235) |
Other comprehensive income (loss) before reclassifications | (2,308) | 2,165 | 1,067 | 1,701 |
Amounts reclassified from accumulated other comprehensive loss, net of tax | (89) | 12 | (144) | (135) |
Period change | (2,397) | 2,177 | 923 | 1,566 |
Ending balance, Accumulated Other Comprehensive Income/(Loss) | (1,656) | 331 | (1,656) | 331 |
Gain on sale of investments, net | 194 | (10) | 398 | 226 |
Income taxes | 618 | 976 | 2,318 | 2,146 |
Reclassification Out of Accumulated Other Comprehensive Income/(Loss) [Member] | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Net of tax | 89 | (12) | 144 | 135 |
Defined Benefit Pension Plan [Member] | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Beginning balance, Accumulated Other Comprehensive Income/(Loss) | (3,148) | (1,297) | (3,228) | (1,306) |
Amounts reclassified from accumulated other comprehensive loss, net of tax | 39 | 5 | 119 | 14 |
Period change | 39 | 5 | 119 | 14 |
Ending balance, Accumulated Other Comprehensive Income/(Loss) | (3,109) | (1,292) | (3,109) | (1,292) |
Defined Benefit Pension Plan [Member] | Reclassification Out of Accumulated Other Comprehensive Income/(Loss) [Member] | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Compensation and employee benefits | (61) | (7) | (181) | (21) |
Income taxes | 22 | 2 | 62 | 7 |
Net of tax | (39) | (5) | (119) | (14) |
Unrealized Gains (Losses) on Securities Available for Sale [Member] | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Beginning balance, Accumulated Other Comprehensive Income/(Loss) | 3,889 | (549) | 649 | 71 |
Other comprehensive income (loss) before reclassifications | (2,308) | 2,165 | 1,067 | 1,701 |
Amounts reclassified from accumulated other comprehensive loss, net of tax | (128) | 7 | (263) | (149) |
Period change | (2,436) | 2,172 | 804 | 1,552 |
Ending balance, Accumulated Other Comprehensive Income/(Loss) | 1,453 | 1,623 | 1,453 | 1,623 |
Unrealized Gains (Losses) on Securities Available for Sale [Member] | Reclassification Out of Accumulated Other Comprehensive Income/(Loss) [Member] | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Gain on sale of investments, net | 194 | (10) | 398 | 226 |
Income taxes | (66) | (3) | (135) | (77) |
Net of tax | $ 128 | $ (7) | $ 263 | $ 149 |
Subsequent Events - Additional
Subsequent Events - Additional Information (Detail) - Jul. 29, 2015 - Subsequent Event [Member] - and Eagle National Bancorp, Inc [Member] - USD ($) $ / shares in Units, $ in Millions | Total |
Subsequent Event [Line Items] | |
Business combination, agreement date | Jul. 29, 2015 |
Business combination, share price | $ 5.8 |
Business combination, aggregate purchase price | $ 24.7 |