Document and Entity Information
Document and Entity Information - shares | 3 Months Ended | |
Dec. 31, 2016 | Feb. 03, 2017 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Dec. 31, 2016 | |
Document Fiscal Year Focus | 2,017 | |
Document Fiscal Period Focus | Q1 | |
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 | 11,498,042 |
Consolidated Balance Sheet (Una
Consolidated Balance Sheet (Unaudited) - USD ($) $ in Thousands | Dec. 31, 2016 | Sep. 30, 2016 |
ASSETS | ||
Cash and due from banks | $ 32,683 | $ 31,815 |
Interest-bearing deposits with other institutions | 7,168 | 11,843 |
Total cash and cash equivalents | 39,851 | 43,658 |
Certificates of deposit | 1,000 | 1,250 |
Investment securities available for sale, at fair value | 392,113 | 390,410 |
Loans receivable (net of allowance for loan losses of $9,342 and $9,056) | 1,224,021 | 1,219,213 |
Regulatory stock, at cost | 16,680 | 15,463 |
Premises and equipment, net | 16,674 | 16,844 |
Bank-owned life insurance | 36,856 | 36,593 |
Foreclosed real estate | 2,436 | 2,659 |
Intangible assets, net | 2,324 | 2,487 |
Goodwill | 13,801 | 13,801 |
Deferred income taxes | 14,932 | 11,885 |
Other assets | 17,922 | 18,216 |
TOTAL ASSETS | 1,778,610 | 1,772,479 |
LIABILITIES | ||
Deposits | 1,192,941 | 1,214,820 |
Short-term borrowings | 174,918 | 129,460 |
Other borrowings | 215,571 | 230,601 |
Advances by borrowers for taxes and insurance | 7,719 | 4,956 |
Other liabilities | 16,022 | 16,298 |
TOTAL LIABILITIES | 1,607,171 | 1,596,135 |
STOCKHOLDERS’ EQUITY | ||
Preferred Stock ($0.01 par value; 10,000,000 shares authorized, none issued) | ||
Common stock ($0.01 par value; 40,000,000 shares authorized, 18,133,095 issued; 11,463,785 and 11,393,558 outstanding at December 31, 2016 and September 30, 2016) | 181 | 181 |
Additional paid in capital | 181,072 | 181,900 |
Unallocated common stock held by the Employee Stock Ownership Plan (ESOP) | (9,061) | (9,174) |
Retained earnings | 88,628 | 87,638 |
Treasury stock, at cost; 6,669,310 and 6,739,537 shares outstanding at December 31, 2016 and September 30, 2016, respectively | (81,486) | (82,369) |
Accumulated other comprehensive loss | (7,895) | (1,832) |
TOTAL STOCKHOLDERS’ EQUITY | 171,439 | 176,344 |
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $ 1,778,610 | $ 1,772,479 |
Consolidated Balance Sheet (Un3
Consolidated Balance Sheet (Unaudited) (Parenthetical) - USD ($) $ in Thousands | Dec. 31, 2016 | Sep. 30, 2016 |
Statement Of Financial Position [Abstract] | ||
Allowance for loan losses | $ 9,342 | $ 9,056 |
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 | 11,463,785 | 11,393,558 |
Treasury stock, shares outstanding | 6,669,310 | 6,739,537 |
Consolidated Statement of Incom
Consolidated Statement of Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
INTEREST INCOME | ||
Loans receivable, including fees | $ 12,251 | $ 11,574 |
Investment securities: | ||
Taxable | 1,874 | 1,818 |
Exempt from federal income tax | 309 | 244 |
Other investment income | 216 | 179 |
Total interest income | 14,650 | 13,815 |
INTEREST EXPENSE | ||
Deposits | 2,012 | 1,845 |
Short-term borrowings | 251 | 94 |
Other borrowings | 755 | 784 |
Total interest expense | 3,018 | 2,723 |
NET INTEREST INCOME | 11,632 | 11,092 |
Provision for loan losses | 750 | 600 |
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES | 10,882 | 10,492 |
NONINTEREST INCOME | ||
Service fees on deposit accounts | 864 | 863 |
Services charges and fees on loans | 354 | 280 |
Trust and investment fees | 150 | 213 |
Gain on sale of investments | 3 | |
Earnings on Bank-owned life insurance | 263 | 230 |
Insurance commissions | 193 | 199 |
Other | 33 | 29 |
Total noninterest income | 1,857 | 1,817 |
NONINTEREST EXPENSE | ||
Compensation and employee benefits | 6,177 | 5,578 |
Occupancy and equipment | 1,091 | 1,109 |
Professional fees | 745 | 453 |
Data processing | 934 | 919 |
Advertising | 305 | 87 |
Federal Deposit Insurance Corporation (FDIC) premiums | 187 | 278 |
Gain on foreclosed real estate | (96) | (10) |
Merger related costs | 245 | |
Amortization of intangible assets | 163 | 174 |
Other | 896 | 953 |
Total noninterest expense | 10,402 | 9,786 |
Income before income taxes | 2,337 | 2,523 |
Income taxes | 400 | 566 |
NET INCOME | $ 1,937 | $ 1,957 |
Earnings per share | ||
Basic | $ 0.18 | $ 0.19 |
Diluted | 0.18 | 0.19 |
Dividends per share | $ 0.09 | $ 0.09 |
Consolidated Statement of Compr
Consolidated Statement of Comprehensive Loss - USD ($) $ in Thousands | 3 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Statement Of Income And Comprehensive Income [Abstract] | ||
Net income | $ 1,937 | $ 1,957 |
Investment securities available for sale: | ||
Unrealized holding loss | (10,232) | (3,398) |
Tax effect | 3,479 | 1,154 |
Reclassification of gains recognized in net income | (3) | |
Tax effect | 1 | |
Net of tax amount | (6,753) | (2,246) |
Pension plan adjustment: | ||
Reclassification adjustment related to actuarial losses | 136 | 120 |
Tax effect | (46) | (41) |
Net of tax amount | 90 | 79 |
Derivative and hedging activities adjustments: | ||
Changes in unrealized holding gains on derivative included in net income | 1,052 | |
Tax effect | (459) | |
Reclassification adjustment for gains on derivatives included in net income | 11 | |
Tax effect | (4) | |
Net of tax amount | 600 | |
Total other comprehensive loss | (6,063) | (2,167) |
Comprehensive loss | $ (4,126) | $ (210) |
Consolidated Statement of Chang
Consolidated Statement of Changes in Stockholders' Equity (Unaudited) - USD ($) $ in Thousands | Total | Common Stock | Additional Paid-In Capital [Member] | Unallocated Common Stock Held by the ESOP [Member] | Retained Earnings [Member] | Treasury Stock [Member] | Accumulated Other Comprehensive Loss [Member] |
Beginning Balance at Sep. 30, 2015 | $ (2,395) | ||||||
Net income | $ 1,957 | ||||||
Other comprehensive loss | (2,167) | (2,167) | |||||
Ending Balance at Dec. 31, 2015 | (4,562) | ||||||
Beginning Balance at Sep. 30, 2016 | $ 176,344 | $ 181 | $ 181,900 | $ (9,174) | $ 87,638 | $ (82,369) | (1,832) |
Beginning Balance, Shares at Sep. 30, 2016 | 11,393,558 | 11,393,558 | |||||
Net income | $ 1,937 | 1,937 | |||||
Other comprehensive loss | (6,063) | (6,063) | |||||
Cash dividends declared ($0.09 per share) | (947) | (947) | |||||
Stock based compensation | 66 | 66 | |||||
Allocation of ESOP stock | 166 | 53 | 113 | ||||
Allocation of treasury shares to incentive plan | (253) | 253 | |||||
Allocation of treasury shares to incentive plan, Shares | 20,675 | ||||||
Stock options exercised | $ (64) | (694) | 630 | ||||
Stock options exercised, Shares | 262,092 | 49,552 | |||||
Ending Balance at Dec. 31, 2016 | $ 171,439 | $ 181 | $ 181,072 | $ (9,061) | $ 88,628 | $ (81,486) | $ (7,895) |
Ending Balance, Shares at Dec. 31, 2016 | 11,463,785 | 11,463,785 |
Consolidated Statement of Chan7
Consolidated Statement of Changes in Stockholders' Equity (Unaudited) (Parenthetical) | 3 Months Ended |
Dec. 31, 2016$ / shares | |
Cash dividends declared, per share | $ 0.09 |
Retained Earnings [Member] | |
Cash dividends declared, per share | $ 0.09 |
Consolidated Statement of Cash
Consolidated Statement of Cash Flows (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
OPERATING ACTIVITIES | ||
Net income | $ 1,937 | $ 1,957 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Provision for loan losses | 750 | 600 |
Provision for depreciation and amortization | 351 | 392 |
Amortization and accretion of discounts and premiums, net | 1,123 | 832 |
Gain on sale of investment securities | (3) | |
Compensation expense on ESOP | 166 | 151 |
Stock based compensation | 66 | 39 |
Increase in accrued interest receivable | (181) | (348) |
(Decrease) increase in accrued interest payable | (17) | 171 |
Earnings on bank-owned life insurance | (263) | (230) |
Deferred federal income taxes | 78 | 114 |
Increase in accrued pension liability | 339 | 296 |
Gain on foreclosed real estate, net | (96) | (10) |
Amortization of intangible assets | 163 | 174 |
Other, net | 978 | (780) |
Net cash provided by operating activities | 5,394 | 3,355 |
INVESTING ACTIVITIES | ||
Certificates of deposit maturities | 250 | 250 |
Investment securities available for sale: | ||
Proceeds from sale of investment securities | 17,365 | |
Proceeds from principal repayments and maturities | 15,506 | 31,094 |
Purchases | (27,912) | (30,134) |
Increase in loans receivable, net | (6,758) | (3,972) |
Redemption of regulatory stock | 5,123 | 4,345 |
Purchase of regulatory stock | (6,340) | (4,304) |
Proceeds from sale of foreclosed real estate | 867 | 202 |
Acquisition, net of cash acquired | (16,174) | |
Purchase of premises, equipment and software | (238) | (400) |
Net cash used for investing activities | (19,502) | (1,728) |
FINANCING ACTIVITIES | ||
Decrease in deposits, net | (21,879) | (8,857) |
Net increase (decrease) in short-term borrowings | 45,458 | (7,287) |
Proceeds from other borrowings | 4,750 | 47,300 |
Repayment of other borrowings | (19,780) | (27,300) |
Increase in advances by borrowers for taxes and insurance | 2,763 | 2,719 |
Purchase of treasury stock shares | (301) | |
Proceeds from the exercise of stock options | (64) | |
Dividends on common stock | (947) | (931) |
Net cash provided by financing activities | 10,301 | 5,343 |
Increase (decrease) in cash and cash equivalents | (3,807) | 6,970 |
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD | 43,658 | 18,758 |
CASH AND CASH EQUIVALENTS AT END OF PERIOD | 39,851 | 25,728 |
Cash Paid: | ||
Interest | 3,035 | 2,489 |
Income taxes | (325) | |
Noncash items: | ||
Transfers from loans to foreclosed real estate | $ 548 | 416 |
Eagle National Bancorp, Inc [Member] | ||
Noncash assets acquired | ||
Investment securities, available for sale | 36,275 | |
Loans receivable | 123,380 | |
Federal Home Loan Bank stock | 889 | |
Premises and equipment | 945 | |
Accrued interest receivable | 185 | |
Intangible assets | 1,491 | |
Goodwill | 3,542 | |
Deferred tax assets | 715 | |
Other assets | 1,989 | |
Liabilities assumed: | ||
Certificates of deposit | 32,408 | |
Deposits other than certificates of deposit | 119,865 | |
Accrued interest payable | 64 | |
Other liabilities | 900 | |
Net noncash assets acquired | 16,174 | |
Cash acquired | $ 8,481 |
Nature of Operations and Basis
Nature of Operations and Basis of Presentation | 3 Months Ended |
Dec. 31, 2016 | |
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, Delaware, Chester, Montgomery, 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 and is currently inactive. 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 three month period ended December 31, 2016 are not necessarily indicative of the results that may be expected for the year ending September 30, 2017. |
Earnings per Share
Earnings per Share | 3 Months Ended |
Dec. 31, 2016 | |
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 month period ended December 31, 2016 and 2015. Three Months Ended December 31, 2016 December 31, 2015 Weighted-average common shares outstanding 18,133,095 18,133,095 Average treasury stock shares (6,720,901 ) (6,793,627 ) Average unearned ESOP shares (899,601 ) (944,875 ) Average unearned non-vested shares (37,561 ) (30,168 ) Weighted average common shares and common stock equivalents used to calculate basic earnings per share 10,475,032 10,364,425 Additional common stock equivalents (non-vested stock) used to calculate diluted earnings per share 1,018 618 Additional common stock equivalents (stock options) used to calculate diluted earnings per share 128,022 170,530 Weighted average common shares and common stock equivalents used to calculate diluted earnings per share 10,604,072 10,535,573 At December 31, 2016 there were 20,194 shares of nonvested stock outstanding at a price of $16.57 per share that were not included in the computation of diluted earnings per share because to do so would have been anti-dilutive. At December 31, 2015 there were 18,021 shares of nonvested stock outstanding at a price of $13.05 per share that were not included in the computation of diluted earnings per share because to do so would have been anti-dilutive. |
Use of Estimates in the Prepara
Use of Estimates in the Preparation of Financial Statements | 3 Months Ended |
Dec. 31, 2016 | |
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 from those estimates. |
Recent Accounting Pronouncement
Recent Accounting Pronouncements | 3 Months Ended |
Dec. 31, 2016 | |
Accounting Changes And Error Corrections [Abstract] | |
Recent Accounting Pronouncements | 4. Recent Accounting Pronouncements In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (a new revenue recognition standard) In August 2015, the FASB issued ASU 2015-14, Revenue from Contract with Customers (Topic 606) In January 2016, the FASB issued ASU 2016-01, Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) In March 2016, the FASB issued ASU 2016-05, Derivatives and Hedging (Topic 815) In March 2016, the FASB issued ASU 2016-06, Derivatives and Hedging (Topic 815) In March 2016, the FASB issued ASU 2016-07, Investments - Equity Method and Joint Ventures (Topic 323) In March 2016, the FASB issued ASU 2016-08, Revenue from Contracts with Customers (Topic 606) Revenue from Contracts with Customers (Topic 606) Revenue from Contracts with Customers (Topic 606) Deferral of the Effective Date In March 2016, the FASB issued ASU 2016-09, Compensation – Stock Compensation (Topic 718) Share-Based Payment In April 2016, the FASB issued ASU 2016-10, Revenue from Contracts with Customers (Topic 606) Revenue from Contracts with Customers (Topic 606) Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date In May 2016, the FASB issued ASU 2016-12, Revenue from Contracts with Customers (Topic 606) Revenue from Contracts with Customers (Topic 606) Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date In June 2016, the FASB issued ASU 2016-13, Financial Instruments-Credit Losses: Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”) In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments In January 2017, the FASB issued ASU 2017-01, Business Combinations (Topic 805), Clarifying the Definition of a Business |
Investment Securities
Investment Securities | 3 Months Ended |
Dec. 31, 2016 | |
Investments Debt And Equity Securities [Abstract] | |
Investment Securities | 5. The amortized cost, gross unrealized gains and losses, and fair value of investment securities available for sale are summarized as follows (in thousands): December 31, 2016 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Available for Sale Fannie Mae $ 119,196 $ 206 $ (1,747 ) $ 117,655 Freddie Mac 92,341 42 (1,345 ) 91,038 Governmental National Mortgage Association 15,267 39 (236 ) 15,070 Total mortgage-backed securities 226,804 287 (3,328 ) 223,763 Obligations of states and political subdivisions 70,720 1,135 (1,334 ) 70,521 U.S. government agency securities 25,689 111 — 25,800 Corporate obligations 39,492 135 (839 ) 38,788 Other debt securities 33,627 165 (576 ) 33,216 Total debt securities 396,332 1,833 (6,077 ) 392,088 Equity securities - financial services 25 — — 25 Total $ 396,357 $ 1,833 $ (6,077 ) $ 392,113 September 30, 2016 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Available for Sale Fannie Mae $ 115,535 $ 1,891 $ (173 ) $ 117,253 Freddie Mac 84,486 1,369 (85 ) 85,770 Governmental National Mortgage Association 16,091 76 (28 ) 16,139 Total mortgage-backed securities 216,112 3,336 (286 ) 219,162 Obligations of states and political subdivisions 71,323 2,432 (65 ) 73,690 U.S. government agency securities 25,669 272 — 25,941 Corporate obligations 38,331 599 (512 ) 38,418 Other debt securities 32,962 428 (216 ) 33,174 Total debt securities 384,397 7,067 (1,079 ) 390,385 Equity securities - financial services 25 — — 25 Total $ 384,422 $ 7,067 $ (1,079 ) $ 390,410 The amortized cost and fair value of debt securities at December 31, 2016, 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 Cost Fair Value Due in one year or less $ 11,401 $ 11,454 Due after one year through five years 41,094 41,037 Due after five years through ten years 84,276 83,653 Due after ten years 259,561 255,944 Total $ 396,332 $ 392,088 For the three months ended December 31, 2016, the Company realized no gross gains or gross losses on proceeds from the sale of investment securities. For the three months ended December 31, 2015, the Company realized gross gains of $3,000 and no gross losses on proceeds from the sale of investment securities of $17.4 million. During the first quarter of fiscal 2016, the Company sold $16.2 million of investment securities which were acquired in the merger with Eagle National Bancorp, Inc (“ENB”). The Company realized no gain or loss from the sale of these 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): December 31, 2016 Number of Securities Less than Twelve Months Twelve Months or Greater Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fannie Mae 63 $ 81,136 $ (1,348 ) $ 11,667 $ (399 ) $ 92,803 $ (1,747 ) Freddie Mac 54 72,423 (1,076 ) 7,015 (269 ) 79,438 (1,345 ) Governmental National Mortgage Association 9 7,556 (199 ) 2,598 (37 ) 10,154 (236 ) Obligations of states and political subdivisions 37 42,064 (1,334 ) — — 42,064 (1,334 ) Corporate obligations 21 17,497 (493 ) 6,171 (346 ) 23,668 (839 ) Other debt securities 19 13,883 (399 ) 9,020 (177 ) 22,903 (576 ) Total 203 $ 234,559 $ (4,849 ) $ 36,471 $ (1,228 ) $ 271,030 $ (6,077 ) September 30, 2016 Number of Securities Less than Twelve Months Twelve Months or Greater Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fannie Mae 17 $ 6,841 $ (21 ) $ 12,261 $ (152 ) $ 19,102 $ (173 ) Freddie Mac 11 7,457 (11 ) 6,375 (74 ) 13,832 (85 ) Governmental National Mortgage Association 5 4,704 (16 ) 1,267 (12 ) 5,971 (28 ) Obligations of states and political subdivisions 12 14,420 (65 ) — — 14,420 (65 ) Corporate obligations 12 8,778 (172 ) 5,303 (340 ) 14,081 (512 ) Other debt securities 13 6,582 (126 ) 6,914 (90 ) 13,496 (216 ) Total 70 $ 48,782 $ (411 ) $ 32,120 $ (668 ) $ 80,902 $ (1,079 ) 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 and corporate debt obligations. The Company reviews its position quarterly and has asserted that at December 31, 2016, the declines outlined in the above table represent temporary declines and the Company would not be required to sell the above securities before their 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 | 3 Months Ended |
Dec. 31, 2016 | |
Receivables [Abstract] | |
Loans Receivable, Net and Allowance for Loan Losses | 6. Loans Receivable, Net and Allowance for Loan Losses Loans receivable consist of the following (in thousands): December 31, 2016 September 30, 2016 Real estate loans: Residential $ 597,888 $ 596,645 Construction 3,057 1,733 Commercial 293,570 288,447 Commercial 33,867 39,978 Obligations of states and political subdivisions 61,374 56,923 Home equity loans and lines of credit 46,785 48,163 Auto Loans 193,523 193,078 Other 3,299 3,302 1,233,363 1,228,269 Less allowance for loan losses 9,342 9,056 Net loans $ 1,224,021 $ 1,219,213 Purchased loans acquired in a business combination are recorded at fair value on their purchase date without a carryover of the related allowance for loan losses. Upon acquisition, the Company evaluated whether each acquired loan (regardless of size) was within the scope of ASC 310-30, Receivables-Loans and Debt Securities Acquired with Deteriorated Credit Quality On the acquisition date, the preliminary estimate of the unpaid principal balance for all loans evidencing credit impairment acquired in the ENB acquisition was $3.5 million and the estimated fair value of the loans was $2.0 million. Total contractually required payments on these loans, including interest, at the acquisition date was $4.2 million. However, the Company’s preliminary estimate of expected cash flows was $2.2 million. At such date, the Company established a credit risk related non-accretable discount (a discount representing amounts which are not expected to be collected from the customer nor liquidation of collateral) of $2.0 million relating to these impaired loans, reflected in the recorded net fair value. Such amount is reflected as a non-accretable fair value adjustment to loans. The Company further estimated the timing and amount of expected cash flows in excess of the estimated fair value and established an accretable discount of $240,000 on the acquisition date relating to these impaired loans. The carrying value of the loans acquired and accounted for in accordance with ASC 310-30, Loans and Debt Securities Acquired with Deteriorated Credit Quality Unpaid principal balance $ 3,468 Interest 717 Contractual cash flows 4,185 Non-accretable discount (1,973 ) Expected cash flows 2,212 Accretable discount (240 ) Estimated fair value $ 1,972 Changes in the accretable yield for purchased credit-impaired loans were as follows, since acquisition, for the periods ended December 31, 2016 and December 31, 2015 (in thousands): Three Months Ended December 31, 2016 2015 Balance at beginning of period $ 478 $ 258 Reclassification, new additions and other — 240 Accretion (25 ) (50 ) Balance at end of period $ 453 $ 448 The following table presents additional information regarding loans acquired and accounted for in accordance with ASC 310-30 (in thousands): December 31, 2016 September 30, 2016 Acquired Loans with Specific Evidence or Deterioration in Credit Quality (ASC 310-30) Acquired Loans with Specific Evidence or Deterioration in Credit Quality (ASC 310-30) Outstanding balance $ 6,728 $ 6,893 Carrying amount $ 5,452 $ 5,563 The following tables show the amount of loans in each category that was individually and collectively evaluated for impairment at the dates indicated (in thousands): Total Loans Individually Evaluated for Impairment Loans Acquired with Deteriorated Credit Quality Collectively Evaluated for Impairment December 31, 2016 Real estate loans: Residential $ 597,888 $ 7,962 $ — $ 589,926 Construction 3,057 — — 3,057 Commercial 293,570 11,223 4,504 277,843 Commercial 33,867 1,824 411 31,632 Obligations of states and political subdivisions 61,374 — — 61,374 Home equity loans and lines of credit 46,785 208 537 46,040 Auto loans 193,523 569 — 192,954 Other 3,299 24 — 3,275 Total $ 1,233,363 $ 21,810 $ 5,452 $ 1,206,101 Total Loans Individually Evaluated for Impairment Loans Acquired with Deteriorated Credit Quality Collectively Evaluated for Impairment September 30, 2016 Real estate loans: Residential $ 596,645 $ 8,721 $ — $ 587,924 Construction 1,733 — — 1,733 Commercial 288,447 11,237 4,615 272,595 Commercial 39,978 1,698 411 37,869 Obligations of states and political sub divisions 56,923 — — 56,923 Home equity loans and lines of credit 48,163 361 537 47,265 Auto loans 193,078 526 — 192,552 Other 3,302 22 — 3,280 Total $ 1,228,269 $ 22,565 $ 5,563 $ 1,200,141 The Company maintains 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. The Company does 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 that it would not otherwise consider because of the borrower’s financial condition. 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 at the time of modification may be removed from TDR status after one year of performance. The following tables include the recorded investment and unpaid principal balances for impaired loans with the associated allowance amount at the dates indicated, if applicable (in thousands): Recorded Investment Unpaid Principal Balance Associated Allowance December 31, 2016 With no specific allowance recorded: Real estate loans Residential $ 5,758 $ 7,807 $ — Construction — — — Commercial 10,770 12,828 — Commercial 1,767 1,808 — Obligations of states and political subdivisions — — — Home equity loans and lines of credit 202 274 — Auto loans 52 147 — Other 24 26 — Total 18,573 22,890 — With an allowance recorded: Real estate loans Residential 2,204 2,485 145 Construction — — — Commercial 453 666 32 Commercial 57 67 1 Obligations of states and political subdivisions — — — Home equity loans and lines of credit 6 6 6 Auto loans 517 517 282 Other — — — Total 3,237 3,741 466 Total: Real estate loans Residential 7,962 10,292 145 Construction — — — Commercial 11,223 13,494 32 Commercial 1,824 1,875 1 Obligations of states and political subdivisions — — — Home equity loans and lines of credit 208 280 6 Auto loans 569 664 282 Other 24 26 — Total Impaired Loans $ 21,810 $ 26,631 $ 466 Recorded Investment Unpaid Principal Balance Associated Allowance September 30, 2016 With no specific allowance recorded: Real Estate Loans Residential $ 6,721 $ 9,016 $ — Construction — — — Commercial 10,939 12,928 — Commercial 1,698 1,725 — Obligations of states and political subdivisions — — — Home equity loans and lines of credit 361 432 — Auto Loans 253 365 — Other 22 22 — Total 19,994 24,488 — With an allowance recorded: Real Estate Loans Residential 2,000 2,151 198 Construction — — — Commercial 298 303 36 Commercial — — — Obligations of states and political subdivisions — — — Home equity loans and lines of credit — — — Auto Loans 273 273 113 Other — — — Total 2,571 2,727 347 Total: Real Estate Loans Residential 8,721 11,167 198 Construction — — — Commercial 11,237 13,231 36 Commercial 1,698 1,725 — Obligations of states and political subdivisions — — — Home equity loans and lines of credit 361 432 — Auto Loans 526 638 113 Other 22 22 — Total Impaired Loans $ 22,565 $ 27,215 $ 347 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 December 31, 2016 2015 2016 2015 Average Recorded Investment Average Recorded Investment Interest Income Recognized Interest Income Recognized With no specific allowance recorded: Real estate loans Residential $ 6,526 $ 8,785 $ 11 $ 27 Construction — — — — Commercial 10,564 18,574 105 176 Commercial 1,693 820 33 15 Obligations of states and political subdivisions — — — — Home equity loans and lines of credit 317 962 — 2 Auto loans 135 282 1 1 Other 8 — — — Total 19,243 29,423 150 221 With an allowance recorded: Real estate loans Residential 2,066 2,592 — 5 Construction — — — — Commercial 348 457 — — Commercial 19 3 — — Obligations of states and political subdivisions — — — — Home equity loans and lines of credit 2 73 — — Auto loans 215 141 4 1 Other — — — — Total 2,650 3,266 4 6 Total: Real estate loans Residential 8,592 11,377 11 32 Construction — — — — Commercial 10,912 19,031 105 176 Commercial 1,712 823 33 15 Obligations of states and political subdivisions — — — — Home equity loans and lines of credit 319 1,035 — 2 Auto loans 350 423 5 2 Other 8 — — — Total Impaired Loans $ 21,893 $ 32,689 $ 154 $ 227 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 more than 90 days past due are considered Substandard. Loans in the Doubtful category have all the weaknesses inherent in loans classified as Substandard with the added characteristic that their 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 recommendation for 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 $750,000 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 or Loss within the internal risk rating system at December 31, 2016 and September 30, 2016 (in thousands): Pass Special Mention Substandard Doubtful or Loss Total December 31, 2016 Commercial real estate loans $ 267,727 $ 7,525 $ 18,318 $ — $ 293,570 Commercial 30,273 171 3,423 — 33,867 Obligations of states and political subdivisions 61,374 — — — 61,374 Total $ 359,374 $ 7,696 $ 21,741 $ — $ 388,811 Pass Special Mention Substandard Doubtful or Loss Total September 30, 2016 Commercial real estate loans $ 260,088 $ 8,886 $ 19,473 $ — $ 288,447 Commercial 36,684 180 3,114 — 39,978 Obligations of states and political subdivisions 56,923 — — — 56,923 Total $ 353,695 $ 9,066 $ 22,587 $ — $ 385,348 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 December 31, 2016 and September 30, 2015 (in thousands): Performing Non-performing Purchased Credit Impaired Total December 31, 2016 Real estate loans: Residential $ 588,731 $ 9,157 $ — $ 597,888 Construction 3,057 — — 3,057 Home equity loans and lines of credit 45,686 562 537 46,785 Auto loans 193,147 376 — 193,523 Other 3,263 36 — 3,299 Total $ 833,884 $ 10,131 $ 537 $ 844,552 Performing Non-performing Purchased Impaired Credit Total September 30, 2016 Real estate loans: Residential $ 587,673 $ 8,972 $ — $ 596,645 Construction 1,733 — — 1,733 Home equity loans and lines of credit 47,213 413 537 48,163 Auto loans 192,734 344 — 193,078 Other 3,271 31 — 3,302 Total $ 832,624 $ 9,760 $ 537 $ 842,921 The Company 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 December 31, 2016 and September 30, 2016 (in thousands): Current 31-60 Days Past Due 61-90 Days Past Due Greater than 90 Days Past Due and still accruing Non-Accrual Total Past Due and Non- Accrual Purchased Credit Impaired Total Loans December 31, 2016 Real estate loans Residential $ 586,229 $ 2,076 $ 426 $ — $ 9,157 $ 11,659 $ — $ 597,888 Construction 3,057 — — — — — — 3,057 Commercial 284,669 167 135 — 4,095 4,397 4,504 293,570 Commercial 32,662 75 — — 719 794 411 33,867 Obligations of states and political subdivisions 61,374 — — — — — — 61,374 Home equity loans and lines of credit 45,609 47 30 — 562 639 537 46,785 Auto loans 192,264 614 269 — 376 1,259 — 193,523 Other 3,214 49 — — 36 85 — 3,299 Total $ 1,209,078 $ 3,028 $ 860 $ — $ 14,945 $ 18,833 $ 5,452 $ 1,233,363 Current 31-60 Days Past Due 61-90 Days Past Due Greater than 90 Days Past Due and still accruing Non-Accrual Total Past Due and Non- Accrual Purchased Credit Impaired Total Loans September 30, 2016 Real estate loans Residential $ 585,517 $ 1,496 $ 660 $ — $ 8,972 $ 11,128 $ — $ 596,645 Construction 1,733 — — — — — — 1,733 Commercial 279,019 1,093 191 — 3,529 4,813 4,615 288,447 Commercial 38,862 185 57 — 463 705 411 39,978 Obligations of states and political subdivisions 56,923 — — — — — — 56,923 Home equity loans and lines of credit 47,026 40 147 — 413 600 537 48,163 Auto loans 191,785 717 232 — 344 1,293 — 193,078 Other 3,264 7 — — 31 38 — 3,302 Total $ 1,204,129 $ 3,538 $ 1,287 $ — $ 13,752 $ 18,577 $ 5,563 $ 1,228,269 The 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. The 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 December 31, 2016 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 month period ending December 31, 2016 and 2015 (in thousands): Home Obligations of Equity States and Loans and Real Estate Loans Commercial Political Lines of Other Residential Construction Commercial Loans Subdivisions Credit Auto Loans Loans Unallocated Total ALL balance at September 30, 2016 $ 4,426 $ 13 $ 852 $ 882 $ 215 $ 455 $ 1,880 $ 25 $ 308 $ 9,056 Charge-offs (76 ) — (91 ) (19 ) — — (517 ) (4 ) — (707 ) Recoveries 2 — 10 0 — 1 228 2 — 243 Provision 98 10 24 102 19 (15 ) 471 2 39 750 ALL balance at December 31, 2016 $ 4,450 $ 23 $ 795 $ 965 $ 234 $ 441 $ 2,062 $ 25 $ 347 $ 9,342 ALL balance at September 30, 2015 $ 5,140 $ 7 $ 671 $ 693 $ 189 $ 461 $ 1,570 $ 27 $ 161 $ 8,919 Charge-offs (91 ) — — (3 ) — (25 ) (188 ) — — (307 ) Recoveries 3 — — 1 — 1 37 3 — 45 Provision (305 ) 7 187 14 (2 ) (48 ) 335 (3 ) 415 600 ALL balance at December 31, 2015 $ 4,747 $ 14 $ 858 $ 705 $ 187 $ 389 $ 1,754 $ 27 $ 576 $ 9,257 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 two categories, the amount required for loans individually evaluated for impairment and the amount required for loans collectively evaluated for impairment as of December 31, 2016 and September 30, 2016 (in thousands): Home Obligations of Equity States and Loans and Real Estate Loans Commercial Political Lines of Other Residential Construction Commercial Loans Subdivisions Credit Auto Loans Loans Unallocated Total Individually evaluated for impairment $ 145 $ — $ 32 $ 1 $ — $ 6 $ 282 $ — $ — $ 466 Collectively evaluated for impairment 4,305 23 763 964 234 435 1,780 25 347 8,876 ALL Balance at December 31, 2016 $ 4,450 $ 23 $ 795 $ 965 $ 234 $ 441 $ 2,062 $ 25 $ 347 $ 9,342 Individually evaluated for impairment $ 198 $ — $ 36 $ — $ — $ — $ 113 $ — $ — $ 347 Collectively evaluated for impairment 4,228 13 816 882 215 455 1,767 25 308 8,709 ALL balance at September 30, 2016 $ 4,426 $ 13 $ 852 $ 882 $ 215 $ 455 $ 1,880 $ 25 $ 308 $ 9,056 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 increased provisions to residential real estate, construction loan, commercial loans, and obligations of states and political subdivisions for the three month period ending December 31, 2016 due to increased balances and impairment evaluations in those segments. The Company allocated decreased provisions to commercial real estate loans for the three month period ending December 31, 2016 due to declining loss experience. The Company allocated decreased provisions to home equity loans and lines of credit for the three month period ending December 31, 2016 due primarily to decreased loan balances. The Company allocated increased provisions in auto loans due to increased loan balances, increased classified assets 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 months ended December 31, 2016 and 2015 (dollars in thousands): For the Three Months Ended December 31, 2016 Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Troubled Debt Restructurings Real estate loans: Residential 2 $ 259 $ 259 Construction — — — Commercial — — — Commercial — — — Obligations of states and political subdivisions — — — Home equity loans and lines of credit — — — Auto loans — — — Other — — — Total 2 $ 259 $ 259 For the Three Months Ended December 31, 2015 Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Troubled Debt Restructurings Real estate loans: Residential 1 $ 81 $ 81 Construction — — — Commercial — — — Commercial — — — Obligations of states and political subdivisions — — — Home equity loans and lines of credit — — — Auto loans — — — Other — — — Total 1 $ 81 $ 81 The two new troubled debt restructurings granted for the three months ended December 31, 2016, totaled $259,000 and were granted term and rate concessions. The one new troubled debt restructurings granted for the three months ended December 31, 2015, totaled $81,000, and was granted terms and rate concessions. For the three months ended December 31, 2016, one loan totaling $107,000 defaulted on a restructuring agreement within one year of modification. For the three months ended December 31, 2015, no loans defaulted on a restructuring agreement within one year of modification. Foreclosed assets acquired in settlement of loans are carried at fair value, less estimated costs to sell, and are included in the Consolidated Balance Sheet. As of December 31, 2016 and September 30, 2016, included with other assets are $2.4 million and $2.7 million, of foreclosed assets, respectively. As of December 31, 2016, included within the foreclosed assets is $1.9 million of consumer residential mortgages that were foreclosed on or received via a deed in lieu transaction prior to the period end. As of December 31, 2016, the Company has initiated formal foreclosure proceedings on $2.7 million of consumer residential mortgages which have not yet been transferred into foreclosed assets. |
Deposits
Deposits | 3 Months Ended |
Dec. 31, 2016 | |
Banking And Thrift [Abstract] | |
Deposits | 7. Deposits Deposits consist of the following major classifications (in thousands): December 31, 2016 September 30, 2016 Non-interest bearing demand accounts $ 144,660 $ 142,924 Interest bearing demand accounts 163,320 167,259 Money market accounts 255,763 249,947 Savings and club accounts 144,459 142,021 Certificates of deposit 484,739 512,669 Total $ 1,192,941 $ 1,214,820 |
Net Periodic Benefit Cost-Defin
Net Periodic Benefit Cost-Defined Benefit Plan | 3 Months Ended |
Dec. 31, 2016 | |
Compensation And Retirement Disclosure [Abstract] | |
Net Periodic Benefit Cost-Defined Benefit Plan | 8 . Net Periodic Benefit Cost-Defined Benefit Plan For a detailed disclosure on the Bank’s pension and employee benefits plans, please refer to Note 12 of the Company’s Consolidated Financial Statements for the year ended September 30, 2016 included in the Company’s Annual Report on Form 10-K. The following table comprises the components of net periodic benefit cost for the periods ended (in thousands): Three Months Ended December 31, 2016 2015 Service Cost $ 309 $ 249 Interest Cost 235 245 Expected return on plan assets (341 ) (311 ) Amortization of unrecognized loss 136 120 Net periodic benefit cost $ 339 $ 303 Subsequent to December 31, 2016, the Company’s board of directors adopted resolutions to freeze the status of the Defined Benefit Plan (“the plan”) effective February 28, 2017. (“the freeze date”). Accordingly, no additional participants will enter the plan after February 28, 2017; no additional years of credited service for benefit accrual purposes will be earned after the freeze date under the plan; and compensation earned by participants after the freeze date will not be taken into account under the plan. For purposes of determining the projected benefit obligation, accumulated other comprehensive income is expected to increase related to the expected reduction of the projected benefit obligation of the plan. The company will recognize the appropriate effect of the reduced benefit obligation in accumulated other comprehensive income net of tax during the second quarter of fiscal 2017. |
Equity Incentive Plan
Equity Incentive Plan | 3 Months Ended |
Dec. 31, 2016 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | |
Equity Incentive Plan | 9 . Equity Incentive Plan The Company maintained the ESSA Bancorp, Inc. 2007 Equity Incentive Plan (the “Plan”). The Plan provided 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 allowed 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. The Company replaced the 2007 Equity Incentive Plan with the ESSA Bancorp, Inc. 2016 Equity Incentive Plan (the “2016 Plan”) which was approved by shareholders on March 3, 2016. The 2016 Plan provides for a total of 250,000 shares of common stock for issuance upon the grant or exercise of awards. The 2016 Plan allows for the granting of restricted stock, restricted stock units, incentive stock options and non-qualified stock options. 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 shares of restricted stock on July 22, 2014, 21,843 shares of restricted stock on May 20, 2015, 23,491 shares of restricted stock on March 4, 2016 and 20,675 shares of restricted stock on December 13, 2016. In accordance with generally accepted accounting principles, the Company expenses the fair value of all share-based compensation grants over the requisite service periods. 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. Stock options vest over a five-year service period and expire ten years after the 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 March 4, 2016 restricted shares vest over a 43 month service period. The December 13, 2016 restricted shares vest over a 46 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 three months ended December 31, 2016 and 2015, the Company recorded $66,000 and $39,000 of share-based compensation expense, respectively, comprised of restricted stock expense. Expected future compensation expense relating to the 4,677 (2014 shares) restricted shares, at December 31, 2016 is $48,000 over the remaining vesting period of 0.75 years. Expected future compensation expense relating to the 10,437 restricted shares (2015 shares) at December 31, 2016 is $143,000 over the remaining vesting period of 1.75 years. Expected future compensation expense relating to the 16,782 restricted shares (2016 shares) at December 31, 2016 is $234,000 over the remaining vesting period of 2.75 years. Expected future compensation expense relating to the 20,675 restricted shares (12/13/16 shares) at December 31, 2016 is $335,000 over the remaining vesting period of 3.75 years. The following is a summary of the Company’s stock option activity and related information for its option grants for the three month period ended December 31, 2016. Number of Stock Options Weighted- average Exercise Price Weighted- average Remaining Contractual Term (in Aggregate Intrinsic Value (in thousands) Outstanding, September 30, 2016 905,987 $ 12.35 1.67 $ 1,341 Granted — — — — Exercised 262,092 12.35 1.42 — Forfeited — — — — Outstanding, December 31, 2016 643,895 $ 12.35 1.42 $ 2,170 Exercisable at December 31, 2016 643,895 $ 12.35 1.42 $ 2,170 The following is a summary of the status of the Company’s restricted stock as of December 31, 2016, and changes therein during the three month period then ended: Number of Restricted Weighted- average Grant Date Fair Value Nonvested at September 30, 2016 31,896 $ 13.01 Granted 20,675 16.57 Vested — — Forfeited — — Nonvested at December 31, 2016 52,571 $ 14.41 |
Fair Value Measurement
Fair Value Measurement | 3 Months Ended |
Dec. 31, 2016 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurement | 10. 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, derivatives, other real estate owned, impaired loans and mortgage servicing rights measured at fair value as of December 31, 2016 and September 30, 2016 and indicates the fair value hierarchy of the valuation techniques utilized by the Bank to determine such fair value: Fair Value Measurement at December 31, 2016 Fair Value Measurements Utilized for the Company’s Financial Assets (in thousands): Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Balances as of December 31, 2016 Securities available-for-sale measured on a recurring basis Mortgage backed securities $ — $ 223,763 $ — $ 223,763 Obligations of states and political subdivisions — 70,521 — 70,521 U.S. government agencies — 25,800 — 25,800 Corporate obligations — 30,550 8,238 38,788 Other debt securities — 33,216 — 33,216 Equity securities-financial services 25 — — 25 Total debt and equity securities $ 25 $ 383,850 $ 8,238 $ 392,113 Derivatives $ — $ 1,362 $ — $ 1,362 Assets measured at fair value on a nonrecurring basis: Foreclosed real estate $ — $ — $ 2,436 $ 2,436 Impaired loans $ — $ — $ 21,344 $ 21,344 Mortgage servicing rights $ — $ — $ 358 $ 358 Fair Value Measurement at September 30, 2016 Fair Value Measurements Utilized for the Company’s Financial Assets (in thousands): Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Balances as of September 30, 2016 Securities available-for-sale measured on a recurring basis Mortgage backed securities $ — $ 219,162 $ — $ 219,162 Obligations of states and political subdivisions — 73,690 — 73,690 U.S. government agencies — 25,941 — 25,941 Corporate obligations — 31,433 6,985 38,418 Other debt securities — 32,674 500 33,174 Equity securities-financial services 25 — — 25 Total debt and equity securities $ 25 $ 382,900 $ 7,485 $ 390,410 Derivatives $ — $ 453 $ — $ 453 Assets measured at fair value on a nonrecurring basis: Foreclosed real estate $ — $ — $ 2,659 $ 2,659 Impaired loans $ — $ — $ 22,218 $ 22,218 Mortgage Servicing rights $ — $ — $ 398 $ 398 The following table presents a summary of changes in the fair value of the Company’s Level III investments for the three month periods ended December 31, 2016 and 2015 (in thousands). Fair Value Measurement Using Significant Unobservable Inputs (Level III) Three Months Ended December 31, 2016 December 31, 2015 Beginning balance $ 7,485 $ 4,211 Purchases, sales, issuances, settlements, net 756 3,000 Total unrealized gain (loss): Included in earnings — — Included in other comprehensive income (3 ) (75 ) Transfers in and/or out of Level III — — $ 8,238 $ 7,136 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 Company 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, all of these are classified as available for sale and are reported at fair value using Level 3 inputs. Mortgage servicing rights are also valued by an independent pricing service. 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 December 31, 2016, 208 impaired loans with a carrying value of $21.8 million were reduced by specific valuation allowance totaling $466,000 resulting in a net fair value of $21.3 million based on Level 3 inputs. At September 30, 2016, 205 impaired loans with a carrying value of $22.6 million were reduced by a specific valuation totaling $347,000 resulting in a net fair value of $22.2 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 Estimate Valuation Techniques Unobservable Input Range December 31, 2016: Impaired loans $ 21,344 Appraisal of collateral (1) Appraisal adjustments (2) 0% to 50% (24.0%) Foreclosed real estate owned 2,436 Appraisal of collateral (1) Appraisal adjustments (2) 20% to 46% (22.7%) Mortgage servicing rights 358 Discounted cash flow Discount rate 11% to 16% (11.6%) Prepayment speeds 7% to 34% (16.2%) Quantitative Information about Level 3 Fair Value Measurements (in thousands) Fair Value Estimate Valuation Techniques Unobservable Input Range September 30, 2016: Impaired loans $ 22,218 Appraisal of collateral (1) Appraisal adjustments (2) 0% to 60% (23.0%) Foreclosed real estate owned 2,659 Appraisal of collateral (1) Appraisal adjustments (2) 20% to 46% (22.1%) Mortgage servicing rights 398 Discounted cash flow Discount rate 12% to 16% (12.0%) Prepayment speeds 2% to 33% (17.2%) (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. 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 (in thousands). December 31, 2016 Carrying Level I Level II Level III Total Fair Value Financial assets: Cash and cash equivalents $ 39,851 $ 39,851 $ — $ — $ 39,851 Certificates of deposit 1,000 — — 1,012 1,012 Investment and mortgage backed securities available for sale 392,113 25 384,350 7,738 392,113 Loans receivable, net 1,224,021 — — 1,220,648 1,220,648 Accrued interest receivable 5,950 5,950 — — 5,950 Regulatory stock 16,680 16,680 — — 16,680 Mortgage servicing rights 358 — — 358 358 Derivatives 1,362 — 1,362 1,362 Bank owned life insurance 36,856 36,856 — — 36,856 Financial liabilities: Deposits $ 1,192,941 $ 708,202 $ — $ 485,989 $ 1,194,191 Short-term borrowings 174,918 174,918 — — 174,918 Other borrowings 215,571 — — 215,726 215,726 Advances by borrowers for taxes and insurance 7,719 7,719 — — 7,719 Accrued interest payable 1,029 1,029 — — 1,029 September 30, 2016 Carrying Level I Level II Level III Total Fair Value Financial assets: Cash and cash equivalents $ 43,658 $ 43,658 $ — $ — $ 43,658 Certificates of deposit 1,250 — — 1,269 1,269 Investment and mortgage backed securities available for sale 390,410 25 382,900 7,485 390,410 Loans receivable, net 1,219,213 — — 1,237,759 1,237,759 Accrued interest receivable 5,769 5,769 — — 5,769 Regulatory stock 15,463 15,463 — — 15,463 Mortgage servicing rights 398 — — 398 398 Derivatives 453 — 453 — 453 Bank owned life insurance 36,593 36,593 — — 36,593 Financial liabilities: Deposits $ 1,214,820 $ 702,151 $ — $ 516,743 $ 1,218,894 Short-term borrowings 129,460 129,460 — — 129,460 Other borrowings 230,601 — — 231,911 231,911 Advances by borrowers for taxes and insurance 4,956 4,956 — — 4,956 Accrued interest payable 1,046 1,046 — — 1,046 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 Regulatory 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 Regulatory 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. Derivatives Fair values of interest rate cap and interest rate swap contracts are based on dealer quotes. Deposits (including Certificates of Deposit) 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 Loss | 3 Months Ended |
Dec. 31, 2016 | |
Equity [Abstract] | |
Accumulated Other Comprehensive Loss | 11. Accumulated Other Comprehensive Loss The activity in accumulated other comprehensive loss for the three months ended December 31, 2016 and 2015 is as follows (in thousands): Accumulated Other Comprehensive Loss Defined Benefit Pension Plan Unrealized (Losses) on Securities Available for Sale Derivatives Total Balance at September 30, 2016 $ (6,083 ) $ 3,952 $ 299 $ (1,832 ) Other comprehensive income (loss) before reclassifications — (6,753 ) 593 (6,160 ) Amounts reclassified from accumulated other comprehensive loss, net of tax 90 — 7 97 Period change 90 (6,753 ) 600 (6,063 ) Balance at December 31, 2016 $ (5,993 ) $ (2,801 ) $ 899 $ (7,895 ) Balance at September 30, 2015 $ (5,325 ) $ 2,930 $ — $ (2,395 ) Other comprehensive loss before reclassifications — (2,244 ) — (2,244 ) Amounts reclassified from accumulated other comprehensive loss, net of tax 79 (2 ) — 77 Period change 79 (2,246 ) — (2,167 ) Balance at December 31, 2015 $ (5,246 ) $ 684 $ — $ (4,562 ) The following table presents significant amounts reclassified out of each component of accumulated other comprehensive loss for the three ended December 31, 2016 and 2015: Amount Reclassified from Accumulated Other Comprehensive Loss Accumulated Other Comprehensive Loss for the Three Months Ended December 31, Affected Line Item in the Consolidated Statement of Income 2016 2015 Securities available for sale: Securities gains reclassified into earnings $ — $ 3 Gain on sale of investments Related income tax expense — (1 ) Income taxes Net effect on accumulated other comprehensive loss for the period — 2 Defined benefit pension plan: Amortization of net loss (136 ) (120 ) Compensation and employee Related income tax expense 46 41 Income taxes Net effect on accumulated other comprehensive loss for the period (90 ) (79 ) Derivatives and hedging activities: Interest expense, effective portion (11 ) — Interest expense Related income tax expense 4 — Income taxes Net effect on accumulated other comprehesive loss for the period (7 ) — Total reclassification for the period $ (97 ) $ (77 ) |
Derivative and Hedging Activiti
Derivative and Hedging Activities | 3 Months Ended |
Dec. 31, 2016 | |
Derivative Instruments And Hedging Activities Disclosure [Abstract] | |
Derivatives and Hedging Activities | 12. Derivatives and Hedging Activities Risk Management Objective of Using Derivatives The Company is exposed to certain risks arising from both its business operations and economic conditions. The Company principally manages its exposures to a wide variety of business and operational risks through management of its core business activities. The Company manages economic risks, including interest rate, liquidity, and credit risk, primarily by managing the amount, sources, and duration of its assets and liabilities and through the use of derivative financial instruments. Specifically, the Company enters into derivative financial instruments to manage exposures that arise from business activities that result in the receipt or payment of future known and uncertain cash amounts, the value of which are determined by interest rates. The Company’s derivative financial instruments are used to manage differences in the amount, timing, and duration of the Company’s known or expected cash receipts and its known or expected cash payments principally related to certain variable rate borrowings. Fair Values of Derivative Instruments on the Consolidated Balance Sheet The table below presents the fair value of the Company’s derivative financial instruments as well as their classification on the Consolidated Balance Sheet as of December 31, 2016 and September 30, 2016, (in thousands). Fair Values of Derivative Instruments Asset Derivatives As of December 31, 2016 As of September 30, 2016 Balance Sheet Location Fair Value Balance Sheet Location Fair Value Derivatives designated as hedging instruments Interest Rate Products Other Assets $ 1,362 Other Assets $ 453 Cash Flow Hedges of Interest Rate Risk The Company’s objectives in using interest rate derivatives are to add stability to interest income and expense and to manage its exposure to interest rate movements. To accomplish this objective, the Company has entered into interest rate swaps as part of its interest rate risk management strategy. These interest rate swaps are designated as cash flow hedges and involve the receipt of variable rate amounts from a counterparty in exchange for the Company making fixed payments. As of December 31, 2016, the Company had three interest rate swaps with a notional of $50 million associated with the Company’s cash outflows associated with various FHLB advances. For derivatives designated as cash flow hedges, the effective portion of changes in the fair value of the derivative is initially reported in other comprehensive income (outside of earnings), net of tax, and subsequently reclassified to earnings when the hedged transaction affects earnings, and the ineffective portion of changes in the fair value of the derivative is recognized directly in earnings. The Company assesses the effectiveness of each hedging relationship by comparing the changes in cash flows of the derivative hedging instrument with the changes in cash flows of the designated hedged transactions. The Company did not recognize any hedge ineffectiveness in earnings during the period ended December 31, 2016. Amounts reported in accumulated other comprehensive loss related to derivatives will be reclassified to interest income/expense as interest payments are made/received on the Company’s variable-rate assets/liabilities. During the three months ended December 31, 2016, the Company had $11,000 of reclassifications to interest expense. During the next twelve months, the Company estimates that $0 will be reclassified as a decrease in interest expense. The table below presents the pre-tax net gains (losses) of the Company’s cash flow hedges for the period ended December 31, 2016 and 2015, respectively, and where they were recorded in the Consolidated Statement of Income, (in thousands). Derivatives in Cash Flow Hedging Relationships Gain Recognized in OCI on Derivative (Effective Portion) Three Months Ended December 31, Location of Gain or (Loss) Reclassified from Accumulated OCI into Income (Effective Portion) (Loss) Reclassified from Accumulated OCI into Income (Effective Portion) Three Months Ended December 31, Location of Gain or (Loss) Recognized in Income on Derivative (Ineffective Portion) Gain or (Loss) Recognized in Income on Derivative (Ineffective Portion) Three Months Ended December 31, 2016 2015 2016 2015 2016 2015 Interest Rate Products $ 1,052 $ — Interest expense $ (11 ) $ — Other non-interest income $ — $ — Ending balance of OCI Total $ 1,052 $ — $ (11 ) $ — $ — $ — Credit-risk-related Contingent Features The Company has agreements with its derivative counterparties that contain a provision where if the Company defaults on any of its indebtedness, including default where repayment of the indebtedness has not been accelerated by the lender, then the Company could also be declared in default on its derivative obligations. The Company also has agreements with certain of its derivative counterparties that contain a provision where if the Company fails to maintain its status as a well / adequate capitalized institution, then the counterparty could terminate the derivative positions and the Company would be required to settle its obligations under the agreements. As of December 31, 2016 the Company had no derivatives in a net liability position and was not required to post collateral against its obligations under these agreements. If the Company had breached any of these provisions at December 31, 2016, it could have been required to settle its obligations under the agreements at the termination value. |
Recent Accounting Pronounceme21
Recent Accounting Pronouncements (Policies) | 3 Months Ended |
Dec. 31, 2016 | |
Accounting Changes And Error Corrections [Abstract] | |
Revenue from Contracts with Customers | In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (a new revenue recognition standard) In August 2015, the FASB issued ASU 2015-14, Revenue from Contract with Customers (Topic 606) In March 2016, the FASB issued ASU 2016-08, Revenue from Contracts with Customers (Topic 606) Revenue from Contracts with Customers (Topic 606) Revenue from Contracts with Customers (Topic 606) Deferral of the Effective Date In April 2016, the FASB issued ASU 2016-10, Revenue from Contracts with Customers (Topic 606) Revenue from Contracts with Customers (Topic 606) Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date In May 2016, the FASB issued ASU 2016-12, Revenue from Contracts with Customers (Topic 606) Revenue from Contracts with Customers (Topic 606) Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date |
Financial Instruments | In January 2016, the FASB issued ASU 2016-01, Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities In June 2016, the FASB issued ASU 2016-13, Financial Instruments-Credit Losses: Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”) |
Leases | In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) |
Derivatives and Hedging | In March 2016, the FASB issued ASU 2016-05, Derivatives and Hedging (Topic 815) In March 2016, the FASB issued ASU 2016-06, Derivatives and Hedging (Topic 815) |
Investments | In March 2016, the FASB issued ASU 2016-07, Investments - Equity Method and Joint Ventures (Topic 323) |
Compensation Stock Compensation | In March 2016, the FASB issued ASU 2016-09, Compensation – Stock Compensation (Topic 718) Share-Based Payment |
Statement of Cash Flows | In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments |
Business Combinations | In January 2017, the FASB issued ASU 2017-01, Business Combinations (Topic 805), Clarifying the Definition of a Business |
Earnings per Share (Tables)
Earnings per Share (Tables) | 3 Months Ended |
Dec. 31, 2016 | |
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 month period ended December 31, 2016 and 2015. Three Months Ended December 31, 2016 December 31, 2015 Weighted-average common shares outstanding 18,133,095 18,133,095 Average treasury stock shares (6,720,901 ) (6,793,627 ) Average unearned ESOP shares (899,601 ) (944,875 ) Average unearned non-vested shares (37,561 ) (30,168 ) Weighted average common shares and common stock equivalents used to calculate basic earnings per share 10,475,032 10,364,425 Additional common stock equivalents (non-vested stock) used to calculate diluted earnings per share 1,018 618 Additional common stock equivalents (stock options) used to calculate diluted earnings per share 128,022 170,530 Weighted average common shares and common stock equivalents used to calculate diluted earnings per share 10,604,072 10,535,573 |
Investment Securities (Tables)
Investment Securities (Tables) | 3 Months Ended |
Dec. 31, 2016 | |
Investments Debt And Equity Securities [Abstract] | |
Summary of Amortized Cost, Gross Unrealized Gains and Losses, 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): December 31, 2016 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Available for Sale Fannie Mae $ 119,196 $ 206 $ (1,747 ) $ 117,655 Freddie Mac 92,341 42 (1,345 ) 91,038 Governmental National Mortgage Association 15,267 39 (236 ) 15,070 Total mortgage-backed securities 226,804 287 (3,328 ) 223,763 Obligations of states and political subdivisions 70,720 1,135 (1,334 ) 70,521 U.S. government agency securities 25,689 111 — 25,800 Corporate obligations 39,492 135 (839 ) 38,788 Other debt securities 33,627 165 (576 ) 33,216 Total debt securities 396,332 1,833 (6,077 ) 392,088 Equity securities - financial services 25 — — 25 Total $ 396,357 $ 1,833 $ (6,077 ) $ 392,113 September 30, 2016 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Available for Sale Fannie Mae $ 115,535 $ 1,891 $ (173 ) $ 117,253 Freddie Mac 84,486 1,369 (85 ) 85,770 Governmental National Mortgage Association 16,091 76 (28 ) 16,139 Total mortgage-backed securities 216,112 3,336 (286 ) 219,162 Obligations of states and political subdivisions 71,323 2,432 (65 ) 73,690 U.S. government agency securities 25,669 272 — 25,941 Corporate obligations 38,331 599 (512 ) 38,418 Other debt securities 32,962 428 (216 ) 33,174 Total debt securities 384,397 7,067 (1,079 ) 390,385 Equity securities - financial services 25 — — 25 Total $ 384,422 $ 7,067 $ (1,079 ) $ 390,410 |
Schedule of Amortized Cost and Fair Value of Debt Securities by Contractual Maturity | The amortized cost and fair value of debt securities at December 31, 2016, 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 Cost Fair Value Due in one year or less $ 11,401 $ 11,454 Due after one year through five years 41,094 41,037 Due after five years through ten years 84,276 83,653 Due after ten years 259,561 255,944 Total $ 396,332 $ 392,088 |
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): December 31, 2016 Number of Securities Less than Twelve Months Twelve Months or Greater Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fannie Mae 63 $ 81,136 $ (1,348 ) $ 11,667 $ (399 ) $ 92,803 $ (1,747 ) Freddie Mac 54 72,423 (1,076 ) 7,015 (269 ) 79,438 (1,345 ) Governmental National Mortgage Association 9 7,556 (199 ) 2,598 (37 ) 10,154 (236 ) Obligations of states and political subdivisions 37 42,064 (1,334 ) — — 42,064 (1,334 ) Corporate obligations 21 17,497 (493 ) 6,171 (346 ) 23,668 (839 ) Other debt securities 19 13,883 (399 ) 9,020 (177 ) 22,903 (576 ) Total 203 $ 234,559 $ (4,849 ) $ 36,471 $ (1,228 ) $ 271,030 $ (6,077 ) September 30, 2016 Number of Securities Less than Twelve Months Twelve Months or Greater Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fannie Mae 17 $ 6,841 $ (21 ) $ 12,261 $ (152 ) $ 19,102 $ (173 ) Freddie Mac 11 7,457 (11 ) 6,375 (74 ) 13,832 (85 ) Governmental National Mortgage Association 5 4,704 (16 ) 1,267 (12 ) 5,971 (28 ) Obligations of states and political subdivisions 12 14,420 (65 ) — — 14,420 (65 ) Corporate obligations 12 8,778 (172 ) 5,303 (340 ) 14,081 (512 ) Other debt securities 13 6,582 (126 ) 6,914 (90 ) 13,496 (216 ) Total 70 $ 48,782 $ (411 ) $ 32,120 $ (668 ) $ 80,902 $ (1,079 ) |
Loans Receivable, Net and All24
Loans Receivable, Net and Allowance for Loan Losses (Tables) | 3 Months Ended |
Dec. 31, 2016 | |
Summary of Loans Receivable | Loans receivable consist of the following (in thousands): December 31, 2016 September 30, 2016 Real estate loans: Residential $ 597,888 $ 596,645 Construction 3,057 1,733 Commercial 293,570 288,447 Commercial 33,867 39,978 Obligations of states and political subdivisions 61,374 56,923 Home equity loans and lines of credit 46,785 48,163 Auto Loans 193,523 193,078 Other 3,299 3,302 1,233,363 1,228,269 Less allowance for loan losses 9,342 9,056 Net loans $ 1,224,021 $ 1,219,213 |
Schedule of Investment and Unpaid Principal Balances for Impaired Loans | The following tables include the recorded investment and unpaid principal balances for impaired loans with the associated allowance amount at the dates indicated, if applicable (in thousands): Recorded Investment Unpaid Principal Balance Associated Allowance December 31, 2016 With no specific allowance recorded: Real estate loans Residential $ 5,758 $ 7,807 $ — Construction — — — Commercial 10,770 12,828 — Commercial 1,767 1,808 — Obligations of states and political subdivisions — — — Home equity loans and lines of credit 202 274 — Auto loans 52 147 — Other 24 26 — Total 18,573 22,890 — With an allowance recorded: Real estate loans Residential 2,204 2,485 145 Construction — — — Commercial 453 666 32 Commercial 57 67 1 Obligations of states and political subdivisions — — — Home equity loans and lines of credit 6 6 6 Auto loans 517 517 282 Other — — — Total 3,237 3,741 466 Total: Real estate loans Residential 7,962 10,292 145 Construction — — — Commercial 11,223 13,494 32 Commercial 1,824 1,875 1 Obligations of states and political subdivisions — — — Home equity loans and lines of credit 208 280 6 Auto loans 569 664 282 Other 24 26 — Total Impaired Loans $ 21,810 $ 26,631 $ 466 Recorded Investment Unpaid Principal Balance Associated Allowance September 30, 2016 With no specific allowance recorded: Real Estate Loans Residential $ 6,721 $ 9,016 $ — Construction — — — Commercial 10,939 12,928 — Commercial 1,698 1,725 — Obligations of states and political subdivisions — — — Home equity loans and lines of credit 361 432 — Auto Loans 253 365 — Other 22 22 — Total 19,994 24,488 — With an allowance recorded: Real Estate Loans Residential 2,000 2,151 198 Construction — — — Commercial 298 303 36 Commercial — — — Obligations of states and political subdivisions — — — Home equity loans and lines of credit — — — Auto Loans 273 273 113 Other — — — Total 2,571 2,727 347 Total: Real Estate Loans Residential 8,721 11,167 198 Construction — — — Commercial 11,237 13,231 36 Commercial 1,698 1,725 — Obligations of states and political subdivisions — — — Home equity loans and lines of credit 361 432 — Auto Loans 526 638 113 Other 22 22 — Total Impaired Loans $ 22,565 $ 27,215 $ 347 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 December 31, 2016 2015 2016 2015 Average Recorded Investment Average Recorded Investment Interest Income Recognized Interest Income Recognized With no specific allowance recorded: Real estate loans Residential $ 6,526 $ 8,785 $ 11 $ 27 Construction — — — — Commercial 10,564 18,574 105 176 Commercial 1,693 820 33 15 Obligations of states and political subdivisions — — — — Home equity loans and lines of credit 317 962 — 2 Auto loans 135 282 1 1 Other 8 — — — Total 19,243 29,423 150 221 With an allowance recorded: Real estate loans Residential 2,066 2,592 — 5 Construction — — — — Commercial 348 457 — — Commercial 19 3 — — Obligations of states and political subdivisions — — — — Home equity loans and lines of credit 2 73 — — Auto loans 215 141 4 1 Other — — — — Total 2,650 3,266 4 6 Total: Real estate loans Residential 8,592 11,377 11 32 Construction — — — — Commercial 10,912 19,031 105 176 Commercial 1,712 823 33 15 Obligations of states and political subdivisions — — — — Home equity loans and lines of credit 319 1,035 — 2 Auto loans 350 423 5 2 Other 8 — — — Total Impaired Loans $ 21,893 $ 32,689 $ 154 $ 227 |
Changes in Accretable Yield for Purchased Credit-Impaired Loans | Changes in the accretable yield for purchased credit-impaired loans were as follows, since acquisition, for the periods ended December 31, 2016 and December 31, 2015 (in thousands): Three Months Ended December 31, 2016 2015 Balance at beginning of period $ 478 $ 258 Reclassification, new additions and other — 240 Accretion (25 ) (50 ) Balance at end of period $ 453 $ 448 |
Summary of Additional Information Regarding Loans Acquired and Accounted | The following table presents additional information regarding loans acquired and accounted for in accordance with ASC 310-30 (in thousands): December 31, 2016 September 30, 2016 Acquired Loans with Specific Evidence or Deterioration in Credit Quality (ASC 310-30) Acquired Loans with Specific Evidence or Deterioration in Credit Quality (ASC 310-30) Outstanding balance $ 6,728 $ 6,893 Carrying amount $ 5,452 $ 5,563 |
Schedule of Loans Evaluated for Impairment | The following tables show the amount of loans in each category that was individually and collectively evaluated for impairment at the dates indicated (in thousands): Total Loans Individually Evaluated for Impairment Loans Acquired with Deteriorated Credit Quality Collectively Evaluated for Impairment December 31, 2016 Real estate loans: Residential $ 597,888 $ 7,962 $ — $ 589,926 Construction 3,057 — — 3,057 Commercial 293,570 11,223 4,504 277,843 Commercial 33,867 1,824 411 31,632 Obligations of states and political subdivisions 61,374 — — 61,374 Home equity loans and lines of credit 46,785 208 537 46,040 Auto loans 193,523 569 — 192,954 Other 3,299 24 — 3,275 Total $ 1,233,363 $ 21,810 $ 5,452 $ 1,206,101 Total Loans Individually Evaluated for Impairment Loans Acquired with Deteriorated Credit Quality Collectively Evaluated for Impairment September 30, 2016 Real estate loans: Residential $ 596,645 $ 8,721 $ — $ 587,924 Construction 1,733 — — 1,733 Commercial 288,447 11,237 4,615 272,595 Commercial 39,978 1,698 411 37,869 Obligations of states and political sub divisions 56,923 — — 56,923 Home equity loans and lines of credit 48,163 361 537 47,265 Auto loans 193,078 526 — 192,552 Other 3,302 22 — 3,280 Total $ 1,228,269 $ 22,565 $ 5,563 $ 1,200,141 |
Classes of the 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 or Loss within the internal risk rating system at December 31, 2016 and September 30, 2016 (in thousands): Pass Special Mention Substandard Doubtful or Loss Total December 31, 2016 Commercial real estate loans $ 267,727 $ 7,525 $ 18,318 $ — $ 293,570 Commercial 30,273 171 3,423 — 33,867 Obligations of states and political subdivisions 61,374 — — — 61,374 Total $ 359,374 $ 7,696 $ 21,741 $ — $ 388,811 Pass Special Mention Substandard Doubtful or Loss Total September 30, 2016 Commercial real estate loans $ 260,088 $ 8,886 $ 19,473 $ — $ 288,447 Commercial 36,684 180 3,114 — 39,978 Obligations of states and political subdivisions 56,923 — — — 56,923 Total $ 353,695 $ 9,066 $ 22,587 $ — $ 385,348 |
Schedule of Performing or non-performing Loans | The following tables present the risk ratings in the consumer categories of performing and non-performing loans at December 31, 2016 and September 30, 2015 (in thousands): Performing Non-performing Purchased Credit Impaired Total December 31, 2016 Real estate loans: Residential $ 588,731 $ 9,157 $ — $ 597,888 Construction 3,057 — — 3,057 Home equity loans and lines of credit 45,686 562 537 46,785 Auto loans 193,147 376 — 193,523 Other 3,263 36 — 3,299 Total $ 833,884 $ 10,131 $ 537 $ 844,552 Performing Non-performing Purchased Impaired Credit Total September 30, 2016 Real estate loans: Residential $ 587,673 $ 8,972 $ — $ 596,645 Construction 1,733 — — 1,733 Home equity loans and lines of credit 47,213 413 537 48,163 Auto loans 192,734 344 — 193,078 Other 3,271 31 — 3,302 Total $ 832,624 $ 9,760 $ 537 $ 842,921 |
Classes of the Loan Portfolio Summarized by the 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 December 31, 2016 and September 30, 2016 (in thousands): Current 31-60 Days Past Due 61-90 Days Past Due Greater than 90 Days Past Due and still accruing Non-Accrual Total Past Due and Non- Accrual Purchased Credit Impaired Total Loans December 31, 2016 Real estate loans Residential $ 586,229 $ 2,076 $ 426 $ — $ 9,157 $ 11,659 $ — $ 597,888 Construction 3,057 — — — — — — 3,057 Commercial 284,669 167 135 — 4,095 4,397 4,504 293,570 Commercial 32,662 75 — — 719 794 411 33,867 Obligations of states and political subdivisions 61,374 — — — — — — 61,374 Home equity loans and lines of credit 45,609 47 30 — 562 639 537 46,785 Auto loans 192,264 614 269 — 376 1,259 — 193,523 Other 3,214 49 — — 36 85 — 3,299 Total $ 1,209,078 $ 3,028 $ 860 $ — $ 14,945 $ 18,833 $ 5,452 $ 1,233,363 Current 31-60 Days Past Due 61-90 Days Past Due Greater than 90 Days Past Due and still accruing Non-Accrual Total Past Due and Non- Accrual Purchased Credit Impaired Total Loans September 30, 2016 Real estate loans Residential $ 585,517 $ 1,496 $ 660 $ — $ 8,972 $ 11,128 $ — $ 596,645 Construction 1,733 — — — — — — 1,733 Commercial 279,019 1,093 191 — 3,529 4,813 4,615 288,447 Commercial 38,862 185 57 — 463 705 411 39,978 Obligations of states and political subdivisions 56,923 — — — — — — 56,923 Home equity loans and lines of credit 47,026 40 147 — 413 600 537 48,163 Auto loans 191,785 717 232 — 344 1,293 — 193,078 Other 3,264 7 — — 31 38 — 3,302 Total $ 1,204,129 $ 3,538 $ 1,287 $ — $ 13,752 $ 18,577 $ 5,563 $ 1,228,269 |
Summary of Primary Segments of ALL | The following tables summarize changes in the primary segments of the ALL for the three month period ending December 31, 2016 and 2015 (in thousands): Home Obligations of Equity States and Loans and Real Estate Loans Commercial Political Lines of Other Residential Construction Commercial Loans Subdivisions Credit Auto Loans Loans Unallocated Total ALL balance at September 30, 2016 $ 4,426 $ 13 $ 852 $ 882 $ 215 $ 455 $ 1,880 $ 25 $ 308 $ 9,056 Charge-offs (76 ) — (91 ) (19 ) — — (517 ) (4 ) — (707 ) Recoveries 2 — 10 0 — 1 228 2 — 243 Provision 98 10 24 102 19 (15 ) 471 2 39 750 ALL balance at December 31, 2016 $ 4,450 $ 23 $ 795 $ 965 $ 234 $ 441 $ 2,062 $ 25 $ 347 $ 9,342 ALL balance at September 30, 2015 $ 5,140 $ 7 $ 671 $ 693 $ 189 $ 461 $ 1,570 $ 27 $ 161 $ 8,919 Charge-offs (91 ) — — (3 ) — (25 ) (188 ) — — (307 ) Recoveries 3 — — 1 — 1 37 3 — 45 Provision (305 ) 7 187 14 (2 ) (48 ) 335 (3 ) 415 600 ALL balance at December 31, 2015 $ 4,747 $ 14 $ 858 $ 705 $ 187 $ 389 $ 1,754 $ 27 $ 576 $ 9,257 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 two categories, the amount required for loans individually evaluated for impairment and the amount required for loans collectively evaluated for impairment as of December 31, 2016 and September 30, 2016 (in thousands): Home Obligations of Equity States and Loans and Real Estate Loans Commercial Political Lines of Other Residential Construction Commercial Loans Subdivisions Credit Auto Loans Loans Unallocated Total Individually evaluated for impairment $ 145 $ — $ 32 $ 1 $ — $ 6 $ 282 $ — $ — $ 466 Collectively evaluated for impairment 4,305 23 763 964 234 435 1,780 25 347 8,876 ALL Balance at December 31, 2016 $ 4,450 $ 23 $ 795 $ 965 $ 234 $ 441 $ 2,062 $ 25 $ 347 $ 9,342 Individually evaluated for impairment $ 198 $ — $ 36 $ — $ — $ — $ 113 $ — $ — $ 347 Collectively evaluated for impairment 4,228 13 816 882 215 455 1,767 25 308 8,709 ALL balance at September 30, 2016 $ 4,426 $ 13 $ 852 $ 882 $ 215 $ 455 $ 1,880 $ 25 $ 308 $ 9,056 |
Summary of Troubled Debt Restructuring Granted | The following is a summary of troubled debt restructuring granted during the three months ended December 31, 2016 and 2015 (dollars in thousands): For the Three Months Ended December 31, 2016 Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Troubled Debt Restructurings Real estate loans: Residential 2 $ 259 $ 259 Construction — — — Commercial — — — Commercial — — — Obligations of states and political subdivisions — — — Home equity loans and lines of credit — — — Auto loans — — — Other — — — Total 2 $ 259 $ 259 For the Three Months Ended December 31, 2015 Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Troubled Debt Restructurings Real estate loans: Residential 1 $ 81 $ 81 Construction — — — Commercial — — — Commercial — — — Obligations of states and political subdivisions — — — Home equity loans and lines of credit — — — Auto loans — — — Other — — — Total 1 $ 81 $ 81 |
Eagle National Bancorp, Inc [Member] | |
Schedule of Investment and Unpaid Principal Balances for Impaired Loans | The carrying value of the loans acquired and accounted for in accordance with ASC 310-30, Loans and Debt Securities Acquired with Deteriorated Credit Quality Unpaid principal balance $ 3,468 Interest 717 Contractual cash flows 4,185 Non-accretable discount (1,973 ) Expected cash flows 2,212 Accretable discount (240 ) Estimated fair value $ 1,972 |
Deposits (Tables)
Deposits (Tables) | 3 Months Ended |
Dec. 31, 2016 | |
Banking And Thrift [Abstract] | |
Schedule of Deposits by Major Classifications | Deposits consist of the following major classifications (in thousands): December 31, 2016 September 30, 2016 Non-interest bearing demand accounts $ 144,660 $ 142,924 Interest bearing demand accounts 163,320 167,259 Money market accounts 255,763 249,947 Savings and club accounts 144,459 142,021 Certificates of deposit 484,739 512,669 Total $ 1,192,941 $ 1,214,820 |
Net Periodic Benefit Cost-Def26
Net Periodic Benefit Cost-Defined Benefit Plan (Tables) | 3 Months Ended |
Dec. 31, 2016 | |
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 December 31, 2016 2015 Service Cost $ 309 $ 249 Interest Cost 235 245 Expected return on plan assets (341 ) (311 ) Amortization of unrecognized loss 136 120 Net periodic benefit cost $ 339 $ 303 |
Equity Incentive Plan (Tables)
Equity Incentive Plan (Tables) | 3 Months Ended |
Dec. 31, 2016 | |
Postemployment Benefits [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 three month period ended December 31, 2016. Number of Stock Options Weighted- average Exercise Price Weighted- average Remaining Contractual Term (in Aggregate Intrinsic Value (in thousands) Outstanding, September 30, 2016 905,987 $ 12.35 1.67 $ 1,341 Granted — — — — Exercised 262,092 12.35 1.42 — Forfeited — — — — Outstanding, December 31, 2016 643,895 $ 12.35 1.42 $ 2,170 Exercisable at December 31, 2016 643,895 $ 12.35 1.42 $ 2,170 |
Schedule of Restricted Stock Option Activity | The following is a summary of the status of the Company’s restricted stock as of December 31, 2016, and changes therein during the three month period then ended: Number of Restricted Weighted- average Grant Date Fair Value Nonvested at September 30, 2016 31,896 $ 13.01 Granted 20,675 16.57 Vested — — Forfeited — — Nonvested at December 31, 2016 52,571 $ 14.41 |
Fair Value Measurement (Tables)
Fair Value Measurement (Tables) | 3 Months Ended |
Dec. 31, 2016 | |
Fair Value Disclosures [Abstract] | |
Schedule of Securities, Derivatives, Other Real Estate Owned and Impaired Loans Measured at Fair Value | The following table presents information about the Company’s securities, derivatives, other real estate owned, impaired loans and mortgage servicing rights measured at fair value as of December 31, 2016 and September 30, 2016 and indicates the fair value hierarchy of the valuation techniques utilized by the Bank to determine such fair value: Fair Value Measurement at December 31, 2016 Fair Value Measurements Utilized for the Company’s Financial Assets (in thousands): Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Balances as of December 31, 2016 Securities available-for-sale measured on a recurring basis Mortgage backed securities $ — $ 223,763 $ — $ 223,763 Obligations of states and political subdivisions — 70,521 — 70,521 U.S. government agencies — 25,800 — 25,800 Corporate obligations — 30,550 8,238 38,788 Other debt securities — 33,216 — 33,216 Equity securities-financial services 25 — — 25 Total debt and equity securities $ 25 $ 383,850 $ 8,238 $ 392,113 Derivatives $ — $ 1,362 $ — $ 1,362 Assets measured at fair value on a nonrecurring basis: Foreclosed real estate $ — $ — $ 2,436 $ 2,436 Impaired loans $ — $ — $ 21,344 $ 21,344 Mortgage servicing rights $ — $ — $ 358 $ 358 Fair Value Measurement at September 30, 2016 Fair Value Measurements Utilized for the Company’s Financial Assets (in thousands): Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Balances as of September 30, 2016 Securities available-for-sale measured on a recurring basis Mortgage backed securities $ — $ 219,162 $ — $ 219,162 Obligations of states and political subdivisions — 73,690 — 73,690 U.S. government agencies — 25,941 — 25,941 Corporate obligations — 31,433 6,985 38,418 Other debt securities — 32,674 500 33,174 Equity securities-financial services 25 — — 25 Total debt and equity securities $ 25 $ 382,900 $ 7,485 $ 390,410 Derivatives $ — $ 453 $ — $ 453 Assets measured at fair value on a nonrecurring basis: Foreclosed real estate $ — $ — $ 2,659 $ 2,659 Impaired loans $ — $ — $ 22,218 $ 22,218 Mortgage Servicing rights $ — $ — $ 398 $ 398 |
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 month periods ended December 31, 2016 and 2015 (in thousands). Fair Value Measurement Using Significant Unobservable Inputs (Level III) Three Months Ended December 31, 2016 December 31, 2015 Beginning balance $ 7,485 $ 4,211 Purchases, sales, issuances, settlements, net 756 3,000 Total unrealized gain (loss): Included in earnings — — Included in other comprehensive income (3 ) (75 ) Transfers in and/or out of Level III — — $ 8,238 $ 7,136 |
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 Estimate Valuation Techniques Unobservable Input Range December 31, 2016: Impaired loans $ 21,344 Appraisal of collateral (1) Appraisal adjustments (2) 0% to 50% (24.0%) Foreclosed real estate owned 2,436 Appraisal of collateral (1) Appraisal adjustments (2) 20% to 46% (22.7%) Mortgage servicing rights 358 Discounted cash flow Discount rate 11% to 16% (11.6%) Prepayment speeds 7% to 34% (16.2%) Quantitative Information about Level 3 Fair Value Measurements (in thousands) Fair Value Estimate Valuation Techniques Unobservable Input Range September 30, 2016: Impaired loans $ 22,218 Appraisal of collateral (1) Appraisal adjustments (2) 0% to 60% (23.0%) Foreclosed real estate owned 2,659 Appraisal of collateral (1) Appraisal adjustments (2) 20% to 46% (22.1%) Mortgage servicing rights 398 Discounted cash flow Discount rate 12% to 16% (12.0%) Prepayment speeds 2% to 33% (17.2%) (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. |
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 (in thousands). December 31, 2016 Carrying Level I Level II Level III Total Fair Value Financial assets: Cash and cash equivalents $ 39,851 $ 39,851 $ — $ — $ 39,851 Certificates of deposit 1,000 — — 1,012 1,012 Investment and mortgage backed securities available for sale 392,113 25 384,350 7,738 392,113 Loans receivable, net 1,224,021 — — 1,220,648 1,220,648 Accrued interest receivable 5,950 5,950 — — 5,950 Regulatory stock 16,680 16,680 — — 16,680 Mortgage servicing rights 358 — — 358 358 Derivatives 1,362 — 1,362 1,362 Bank owned life insurance 36,856 36,856 — — 36,856 Financial liabilities: Deposits $ 1,192,941 $ 708,202 $ — $ 485,989 $ 1,194,191 Short-term borrowings 174,918 174,918 — — 174,918 Other borrowings 215,571 — — 215,726 215,726 Advances by borrowers for taxes and insurance 7,719 7,719 — — 7,719 Accrued interest payable 1,029 1,029 — — 1,029 September 30, 2016 Carrying Level I Level II Level III Total Fair Value Financial assets: Cash and cash equivalents $ 43,658 $ 43,658 $ — $ — $ 43,658 Certificates of deposit 1,250 — — 1,269 1,269 Investment and mortgage backed securities available for sale 390,410 25 382,900 7,485 390,410 Loans receivable, net 1,219,213 — — 1,237,759 1,237,759 Accrued interest receivable 5,769 5,769 — — 5,769 Regulatory stock 15,463 15,463 — — 15,463 Mortgage servicing rights 398 — — 398 398 Derivatives 453 — 453 — 453 Bank owned life insurance 36,593 36,593 — — 36,593 Financial liabilities: Deposits $ 1,214,820 $ 702,151 $ — $ 516,743 $ 1,218,894 Short-term borrowings 129,460 129,460 — — 129,460 Other borrowings 230,601 — — 231,911 231,911 Advances by borrowers for taxes and insurance 4,956 4,956 — — 4,956 Accrued interest payable 1,046 1,046 — — 1,046 |
Accumulated Other Comprehensi29
Accumulated Other Comprehensive Loss (Tables) | 3 Months Ended |
Dec. 31, 2016 | |
Equity [Abstract] | |
Summary of Activity in Accumulated Other Comprehensive Income (Loss) | The activity in accumulated other comprehensive loss for the three months ended December 31, 2016 and 2015 is as follows (in thousands): Accumulated Other Comprehensive Loss Defined Benefit Pension Plan Unrealized (Losses) on Securities Available for Sale Derivatives Total Balance at September 30, 2016 $ (6,083 ) $ 3,952 $ 299 $ (1,832 ) Other comprehensive income (loss) before reclassifications — (6,753 ) 593 (6,160 ) Amounts reclassified from accumulated other comprehensive loss, net of tax 90 — 7 97 Period change 90 (6,753 ) 600 (6,063 ) Balance at December 31, 2016 $ (5,993 ) $ (2,801 ) $ 899 $ (7,895 ) Balance at September 30, 2015 $ (5,325 ) $ 2,930 $ — $ (2,395 ) Other comprehensive loss before reclassifications — (2,244 ) — (2,244 ) Amounts reclassified from accumulated other comprehensive loss, net of tax 79 (2 ) — 77 Period change 79 (2,246 ) — (2,167 ) Balance at December 31, 2015 $ (5,246 ) $ 684 $ — $ (4,562 ) |
Summary of Reclassification Out of Accumulated Other Comprehensive Income (Loss) | The following table presents significant amounts reclassified out of each component of accumulated other comprehensive loss for the three ended December 31, 2016 and 2015: Amount Reclassified from Accumulated Other Comprehensive Loss Accumulated Other Comprehensive Loss for the Three Months Ended December 31, Affected Line Item in the Consolidated Statement of Income 2016 2015 Securities available for sale: Securities gains reclassified into earnings $ — $ 3 Gain on sale of investments Related income tax expense — (1 ) Income taxes Net effect on accumulated other comprehensive loss for the period — 2 Defined benefit pension plan: Amortization of net loss (136 ) (120 ) Compensation and employee Related income tax expense 46 41 Income taxes Net effect on accumulated other comprehensive loss for the period (90 ) (79 ) Derivatives and hedging activities: Interest expense, effective portion (11 ) — Interest expense Related income tax expense 4 — Income taxes Net effect on accumulated other comprehesive loss for the period (7 ) — Total reclassification for the period $ (97 ) $ (77 ) |
Derivatives and Hedging Activit
Derivatives and Hedging Activities (Tables) | 3 Months Ended |
Dec. 31, 2016 | |
Derivative Instruments And Hedging Activities Disclosure [Abstract] | |
Schedule of Fair Value of Derivative Financial Instruments as well as their Classification on Consolidated Balance Sheet | The table below presents the fair value of the Company’s derivative financial instruments as well as their classification on the Consolidated Balance Sheet as of December 31, 2016 and September 30, 2016, (in thousands). Fair Values of Derivative Instruments Asset Derivatives As of December 31, 2016 As of September 30, 2016 Balance Sheet Location Fair Value Balance Sheet Location Fair Value Derivatives designated as hedging instruments Interest Rate Products Other Assets $ 1,362 Other Assets $ 453 |
Schedule of Pre-Tax Net Gains (Losses) of Cash flow Hedges | The table below presents the pre-tax net gains (losses) of the Company’s cash flow hedges for the period ended December 31, 2016 and 2015, respectively, and where they were recorded in the Consolidated Statement of Income, (in thousands). Derivatives in Cash Flow Hedging Relationships Gain Recognized in OCI on Derivative (Effective Portion) Three Months Ended December 31, Location of Gain or (Loss) Reclassified from Accumulated OCI into Income (Effective Portion) (Loss) Reclassified from Accumulated OCI into Income (Effective Portion) Three Months Ended December 31, Location of Gain or (Loss) Recognized in Income on Derivative (Ineffective Portion) Gain or (Loss) Recognized in Income on Derivative (Ineffective Portion) Three Months Ended December 31, 2016 2015 2016 2015 2016 2015 Interest Rate Products $ 1,052 $ — Interest expense $ (11 ) $ — Other non-interest income $ — $ — Ending balance of OCI Total $ 1,052 $ — $ (11 ) $ — $ — $ — |
Nature of Operations and Basi31
Nature of Operations and Basis of Presentation - Additional Information (Detail) | Dec. 31, 2016 |
ESSA Bank & Trust [Member] | |
Summary Of Significant Accounting Policies [Line Items] | |
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 | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Earnings Per Share [Abstract] | ||
Weighted-average common shares outstanding | 18,133,095 | 18,133,095 |
Average treasury stock shares | (6,720,901) | (6,793,627) |
Average unearned ESOP shares | (899,601) | (944,875) |
Average unearned non-vested shares | (37,561) | (30,168) |
Weighted average common shares and common stock equivalents used to calculate basic earnings per share | 10,475,032 | 10,364,425 |
Additional common stock equivalents (non-vested stock) used to calculate diluted earnings per share | 1,018 | 618 |
Additional common stock equivalents (stock options) used to calculate diluted earnings per share | 128,022 | 170,530 |
Weighted average common shares and common stock equivalents used to calculate diluted earnings per share | 10,604,072 | 10,535,573 |
Earnings Per Share - Additional
Earnings Per Share - Additional Information (Detail) - Stock Option [Member] - $ / shares | 3 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Anti-dilutive securities | 20,194 | 18,021 |
Price per share of anti-dilutive shares | $ 16.57 | $ 13.05 |
Investment Securities - Summary
Investment Securities - Summary of Amortized Cost, Gross Unrealized Gains and Losses, and Fair Value of Investment Securities Available for Sale (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Sep. 30, 2016 |
Schedule of Available-for-sale Securities [Line Items] | ||
Available for sale, Amortized Cost | $ 396,357 | $ 384,422 |
Available for sale, Gross Unrealized Gains | 1,833 | 7,067 |
Available for sale, Gross Unrealized Losses | (6,077) | (1,079) |
Available for sale, Fair Value | 392,113 | 390,410 |
Fannie Mae [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for sale, Amortized Cost | 119,196 | 115,535 |
Available for sale, Gross Unrealized Gains | 206 | 1,891 |
Available for sale, Gross Unrealized Losses | (1,747) | (173) |
Available for sale, Fair Value | 117,655 | 117,253 |
Freddie Mac [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for sale, Amortized Cost | 92,341 | 84,486 |
Available for sale, Gross Unrealized Gains | 42 | 1,369 |
Available for sale, Gross Unrealized Losses | (1,345) | (85) |
Available for sale, Fair Value | 91,038 | 85,770 |
Governmental National Mortgage Association [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for sale, Amortized Cost | 15,267 | 16,091 |
Available for sale, Gross Unrealized Gains | 39 | 76 |
Available for sale, Gross Unrealized Losses | (236) | (28) |
Available for sale, Fair Value | 15,070 | 16,139 |
Mortgage-Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for sale, Amortized Cost | 226,804 | 216,112 |
Available for sale, Gross Unrealized Gains | 287 | 3,336 |
Available for sale, Gross Unrealized Losses | (3,328) | (286) |
Available for sale, Fair Value | 223,763 | 219,162 |
Obligations of States and Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for sale, Amortized Cost | 70,720 | 71,323 |
Available for sale, Gross Unrealized Gains | 1,135 | 2,432 |
Available for sale, Gross Unrealized Losses | (1,334) | (65) |
Available for sale, Fair Value | 70,521 | 73,690 |
U.S. Government Agency Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for sale, Amortized Cost | 25,689 | 25,669 |
Available for sale, Gross Unrealized Gains | 111 | 272 |
Available for sale, Fair Value | 25,800 | 25,941 |
Corporate Obligations [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for sale, Amortized Cost | 39,492 | 38,331 |
Available for sale, Gross Unrealized Gains | 135 | 599 |
Available for sale, Gross Unrealized Losses | (839) | (512) |
Available for sale, Fair Value | 38,788 | 38,418 |
Other Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for sale, Amortized Cost | 33,627 | 32,962 |
Available for sale, Gross Unrealized Gains | 165 | 428 |
Available for sale, Gross Unrealized Losses | (576) | (216) |
Available for sale, Fair Value | 33,216 | 33,174 |
Total Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for sale, Amortized Cost | 396,332 | 384,397 |
Available for sale, Gross Unrealized Gains | 1,833 | 7,067 |
Available for sale, Gross Unrealized Losses | (6,077) | (1,079) |
Available for sale, Fair Value | 392,088 | 390,385 |
Equity Securities-Financial Services [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for sale, Amortized Cost | 25 | 25 |
Available for sale, Fair Value | $ 25 | $ 25 |
Investment Securities - Schedul
Investment Securities - Schedule of Amortized Cost and Fair Value of Debt Securities by Contractual Maturity (Detail) $ in Thousands | Dec. 31, 2016USD ($) |
Available-for-sale Securities, Debt Maturities, Amortized Cost Basis, Fiscal Year Maturity [Abstract] | |
Due in one year or less, Amortized Cost | $ 11,401 |
Due after one year through five years, Amortized Cost | 41,094 |
Due after five years through ten years, Amortized Cost | 84,276 |
Due after ten years, Amortized Cost | 259,561 |
Total, Amortized Cost | 396,332 |
Due in one year or less, Fair Value | 11,454 |
Due after one year through five years, Fair Value | 41,037 |
Due after five years through ten years, Fair Value | 83,653 |
Due after ten years, Fair Value | 255,944 |
Total, Fair Value | $ 392,088 |
Investment Securities - Additio
Investment Securities - Additional Information (Detail) - USD ($) | 3 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Schedule of Available-for-sale Securities [Line Items] | ||
Realized gross gains | $ 0 | $ 3,000 |
Realized gross losses | 0 | 0 |
Proceeds from the sale of investment securities | 17,400,000 | |
Eagle National Bancorp, Inc [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Realized gross gains | 0 | 0 |
Realized gross losses | 0 | $ 0 |
Proceeds from the sale of investment securities | $ 16,200,000 |
Investment Securities - Sched37
Investment Securities - Schedule of Gross Unrealized Losses and Fair Value (Detail) $ in Thousands | Dec. 31, 2016USD ($)Security | Sep. 30, 2016USD ($)Security |
Schedule of Available-for-sale Securities [Line Items] | ||
Number of Securities | Security | 203 | 70 |
Fair Value, Less than Twelve Months | $ 234,559 | $ 48,782 |
Gross Unrealized Losses, Less than Twelve Months | (4,849) | (411) |
Fair Value, Twelve Months or Greater | 36,471 | 32,120 |
Gross Unrealized Losses, Twelve Months or Greater | (1,228) | (668) |
Fair Value, Total | 271,030 | 80,902 |
Gross Unrealized Losses, Total | $ (6,077) | $ (1,079) |
Fannie Mae [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Number of Securities | Security | 63 | 17 |
Fair Value, Less than Twelve Months | $ 81,136 | $ 6,841 |
Gross Unrealized Losses, Less than Twelve Months | (1,348) | (21) |
Fair Value, Twelve Months or Greater | 11,667 | 12,261 |
Gross Unrealized Losses, Twelve Months or Greater | (399) | (152) |
Fair Value, Total | 92,803 | 19,102 |
Gross Unrealized Losses, Total | $ (1,747) | $ (173) |
Freddie Mac [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Number of Securities | Security | 54 | 11 |
Fair Value, Less than Twelve Months | $ 72,423 | $ 7,457 |
Gross Unrealized Losses, Less than Twelve Months | (1,076) | (11) |
Fair Value, Twelve Months or Greater | 7,015 | 6,375 |
Gross Unrealized Losses, Twelve Months or Greater | (269) | (74) |
Fair Value, Total | 79,438 | 13,832 |
Gross Unrealized Losses, Total | $ (1,345) | $ (85) |
Governmental National Mortgage Association [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Number of Securities | Security | 9 | 5 |
Fair Value, Less than Twelve Months | $ 7,556 | $ 4,704 |
Gross Unrealized Losses, Less than Twelve Months | (199) | (16) |
Fair Value, Twelve Months or Greater | 2,598 | 1,267 |
Gross Unrealized Losses, Twelve Months or Greater | (37) | (12) |
Fair Value, Total | 10,154 | 5,971 |
Gross Unrealized Losses, Total | $ (236) | $ (28) |
Obligations of States and Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Number of Securities | Security | 37 | 12 |
Fair Value, Less than Twelve Months | $ 42,064 | $ 14,420 |
Gross Unrealized Losses, Less than Twelve Months | (1,334) | (65) |
Fair Value, Total | 42,064 | 14,420 |
Gross Unrealized Losses, Total | $ (1,334) | $ (65) |
Corporate Obligations [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Number of Securities | Security | 21 | 12 |
Fair Value, Less than Twelve Months | $ 17,497 | $ 8,778 |
Gross Unrealized Losses, Less than Twelve Months | (493) | (172) |
Fair Value, Twelve Months or Greater | 6,171 | 5,303 |
Gross Unrealized Losses, Twelve Months or Greater | (346) | (340) |
Fair Value, Total | 23,668 | 14,081 |
Gross Unrealized Losses, Total | $ (839) | $ (512) |
Other Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Number of Securities | Security | 19 | 13 |
Fair Value, Less than Twelve Months | $ 13,883 | $ 6,582 |
Gross Unrealized Losses, Less than Twelve Months | (399) | (126) |
Fair Value, Twelve Months or Greater | 9,020 | 6,914 |
Gross Unrealized Losses, Twelve Months or Greater | (177) | (90) |
Fair Value, Total | 22,903 | 13,496 |
Gross Unrealized Losses, Total | $ (576) | $ (216) |
Loans Receivable, Net and All38
Loans Receivable, Net and Allowance for Loan Losses - Summary of Loans Receivable (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Sep. 30, 2016 | Dec. 31, 2015 | Sep. 30, 2015 |
Real estate loans: | ||||
Total Loans | $ 1,233,363 | $ 1,228,269 | ||
Less allowance for loan losses | 9,342 | 9,056 | $ 9,257 | $ 8,919 |
Net loans | 1,224,021 | 1,219,213 | ||
Residential Real Estate Loans [Member] | ||||
Real estate loans: | ||||
Total Loans | 597,888 | 596,645 | ||
Less allowance for loan losses | 4,450 | 4,426 | 4,747 | 5,140 |
Construction Real Estate Loans [Member] | ||||
Real estate loans: | ||||
Total Loans | 3,057 | 1,733 | ||
Commercial Real Estate Loans [Member] | ||||
Real estate loans: | ||||
Total Loans | 293,570 | 288,447 | ||
Less allowance for loan losses | 795 | 852 | 858 | 671 |
Commercial Loans [Member] | ||||
Real estate loans: | ||||
Total Loans | 33,867 | 39,978 | ||
Less allowance for loan losses | 965 | 882 | 705 | 693 |
Obligations of States and Political Subdivisions [Member] | ||||
Real estate loans: | ||||
Total Loans | 61,374 | 56,923 | ||
Less allowance for loan losses | 234 | 215 | 187 | 189 |
Home Equity Loans and Lines of Credit [Member] | ||||
Real estate loans: | ||||
Total Loans | 46,785 | 48,163 | ||
Less allowance for loan losses | 441 | 455 | 389 | 461 |
Auto Loans [Member] | ||||
Real estate loans: | ||||
Total Loans | 193,523 | 193,078 | ||
Less allowance for loan losses | 2,062 | 1,880 | 1,754 | 1,570 |
Other [Member] | ||||
Real estate loans: | ||||
Total Loans | 3,299 | 3,302 | ||
Less allowance for loan losses | $ 25 | $ 25 | $ 27 | $ 27 |
Loans Receivable, Net and All39
Loans Receivable, Net and Allowance for Loan Losses - Additional Information (Detail) | Dec. 04, 2015USD ($) | Dec. 31, 2016USD ($)Contract | Dec. 31, 2015USD ($)Contract | Sep. 30, 2016USD ($) |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Unpaid Principal Balance | $ 3,468,000 | $ 26,631,000 | $ 27,215,000 | |
Estimated fair value | 1,972,000 | |||
Contractual cash flows | 4,185,000 | |||
Preliminary estimate of expected cash flows | 2,212,000 | |||
Non-accretable discount | 1,973,000 | |||
Cash flows in excess of estimated fair value | $ 240,000 | |||
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 | $ 750,000 | |||
Minimum external review amount | $ 1,000,000 | |||
Number of Contracts | Contract | 2 | 1 | ||
Troubled debt restructurings granted terms and rate concession | $ 259,000 | $ 81,000 | ||
Number of troubled debt restructurings, loan modified, defaulted within one year of modification | Contract | 1 | 0 | ||
Troubled debt restructurings, loan modified, defaulted within one year of modification | $ 107,000 | |||
Foreclosed assets | 2,400,000 | $ 2,700,000 | ||
Consumer Residential Mortgages [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Foreclosed assets | 1,900,000 | |||
Formal foreclosure proceeding assets | 2,700,000 | |||
Eagle National Bancorp, Inc [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Unpaid Principal Balance | 3,500,000 | |||
Estimated fair value | 2,000,000 | |||
Contractual cash flows | 4,200,000 | |||
Preliminary estimate of expected cash flows | 2,200,000 | |||
Non-accretable discount | 2,000,000 | |||
Cash flows in excess of estimated fair value | 240,000 | |||
Loans Acquired with Deteriorated Credit Quality [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Carrying value of Purchased loans | $ 5,500,000 |
Loans Receivable, Net and All40
Loans Receivable, Net and Allowance for Loan Losses - Schedule of Investment and Unpaid Principal Balances for Impaired Loans (Detail) - USD ($) $ in Thousands | Dec. 04, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2016 |
Financing Receivable, Impaired [Line Items] | ||||
Recorded Investment | $ 21,810 | $ 22,565 | ||
Unpaid Principal Balance | $ 3,468 | 26,631 | 27,215 | |
Associated Allowance | 466 | 347 | ||
Average Recorded Investment | 21,893 | $ 32,689 | ||
Interest | 717 | 154 | 227 | |
Contractual cash flows | 4,185 | |||
Non-accretable discount | (1,973) | |||
Expected cash flows | 2,212 | |||
Accretable discount | (240) | |||
Estimated fair value | $ 1,972 | |||
With no Specific Allowance Recorded [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Recorded Investment | 18,573 | 19,994 | ||
Unpaid Principal Balance | 22,890 | 24,488 | ||
Average Recorded Investment | 19,243 | 29,423 | ||
Interest | 150 | 221 | ||
With an Allowance Recorded [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Recorded Investment | 3,237 | 2,571 | ||
Unpaid Principal Balance | 3,741 | 2,727 | ||
Associated Allowance | 466 | 347 | ||
Average Recorded Investment | 2,650 | 3,266 | ||
Interest | 4 | 6 | ||
Residential Real Estate Loans [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Recorded Investment | 7,962 | 8,721 | ||
Unpaid Principal Balance | 10,292 | 11,167 | ||
Associated Allowance | 145 | 198 | ||
Average Recorded Investment | 8,592 | 11,377 | ||
Interest | 11 | 32 | ||
Residential Real Estate Loans [Member] | With no Specific Allowance Recorded [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Recorded Investment | 5,758 | 6,721 | ||
Unpaid Principal Balance | 7,807 | 9,016 | ||
Average Recorded Investment | 6,526 | 8,785 | ||
Interest | 11 | 27 | ||
Residential Real Estate Loans [Member] | With an Allowance Recorded [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Recorded Investment | 2,204 | 2,000 | ||
Unpaid Principal Balance | 2,485 | 2,151 | ||
Associated Allowance | 145 | 198 | ||
Average Recorded Investment | 2,066 | 2,592 | ||
Interest | 5 | |||
Commercial Real Estate Loans [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Recorded Investment | 11,223 | 11,237 | ||
Unpaid Principal Balance | 13,494 | 13,231 | ||
Associated Allowance | 32 | 36 | ||
Average Recorded Investment | 10,912 | 19,031 | ||
Interest | 105 | 176 | ||
Commercial Real Estate Loans [Member] | With no Specific Allowance Recorded [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Recorded Investment | 10,770 | 10,939 | ||
Unpaid Principal Balance | 12,828 | 12,928 | ||
Average Recorded Investment | 10,564 | 18,574 | ||
Interest | 105 | 176 | ||
Commercial Real Estate Loans [Member] | With an Allowance Recorded [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Recorded Investment | 453 | 298 | ||
Unpaid Principal Balance | 666 | 303 | ||
Associated Allowance | 32 | 36 | ||
Average Recorded Investment | 348 | 457 | ||
Commercial Loans [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Recorded Investment | 1,824 | 1,698 | ||
Unpaid Principal Balance | 1,875 | 1,725 | ||
Associated Allowance | 1 | |||
Average Recorded Investment | 1,712 | 823 | ||
Interest | 33 | 15 | ||
Commercial Loans [Member] | With no Specific Allowance Recorded [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Recorded Investment | 1,767 | 1,698 | ||
Unpaid Principal Balance | 1,808 | 1,725 | ||
Average Recorded Investment | 1,693 | 820 | ||
Interest | 33 | 15 | ||
Commercial Loans [Member] | With an Allowance Recorded [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Recorded Investment | 57 | |||
Unpaid Principal Balance | 67 | |||
Associated Allowance | 1 | |||
Average Recorded Investment | 19 | 3 | ||
Home Equity Loans and Lines of Credit [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Recorded Investment | 208 | 361 | ||
Unpaid Principal Balance | 280 | 432 | ||
Associated Allowance | 6 | |||
Average Recorded Investment | 319 | 1,035 | ||
Interest | 2 | |||
Home Equity Loans and Lines of Credit [Member] | With no Specific Allowance Recorded [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Recorded Investment | 202 | 361 | ||
Unpaid Principal Balance | 274 | 432 | ||
Average Recorded Investment | 317 | 962 | ||
Interest | 2 | |||
Home Equity Loans and Lines of Credit [Member] | With an Allowance Recorded [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Recorded Investment | 6 | |||
Unpaid Principal Balance | 6 | |||
Associated Allowance | 6 | |||
Average Recorded Investment | 2 | 73 | ||
Auto Loans [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Recorded Investment | 569 | 526 | ||
Unpaid Principal Balance | 664 | 638 | ||
Associated Allowance | 282 | 113 | ||
Average Recorded Investment | 350 | 423 | ||
Interest | 5 | 2 | ||
Auto Loans [Member] | With no Specific Allowance Recorded [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Recorded Investment | 52 | 253 | ||
Unpaid Principal Balance | 147 | 365 | ||
Average Recorded Investment | 135 | 282 | ||
Interest | 1 | 1 | ||
Auto Loans [Member] | With an Allowance Recorded [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Recorded Investment | 517 | 273 | ||
Unpaid Principal Balance | 517 | 273 | ||
Associated Allowance | 282 | 113 | ||
Average Recorded Investment | 215 | 141 | ||
Interest | 4 | $ 1 | ||
Other [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Recorded Investment | 24 | 22 | ||
Unpaid Principal Balance | 26 | 22 | ||
Average Recorded Investment | 8 | |||
Other [Member] | With no Specific Allowance Recorded [Member] | ||||
Financing Receivable, Impaired [Line Items] | ||||
Recorded Investment | 24 | 22 | ||
Unpaid Principal Balance | 26 | $ 22 | ||
Average Recorded Investment | $ 8 |
Loans Receivable, Net and All41
Loans Receivable, Net and Allowance for Loan Losses - Changes in Accretable Yield for Purchased Credit-Impaired Losses (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Receivables [Abstract] | ||
Balance at beginning of period | $ 478 | $ 258 |
Reclassification, new additions and other | 240 | |
Accretion | (25) | (50) |
Balance at end of period | $ 453 | $ 448 |
Loans Receivable, Net and All42
Loans Receivable, Net and Allowance for Loan Losses - Summary of Additional Information Regarding Loans Acquired and Accounted (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Sep. 30, 2016 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Carrying amount | $ 1,233,363 | $ 1,228,269 |
Loans Acquired with Deteriorated Credit Quality [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Outstanding balance | 6,728 | 6,893 |
Carrying amount | $ 5,452 | $ 5,563 |
Loans Receivable, Net and All43
Loans Receivable, Net and Allowance for Loan Losses - Schedule of Loans Evaluated for Impairment (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Sep. 30, 2016 |
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | $ 1,233,363 | $ 1,228,269 |
Individually Evaluated for Impairment | 21,810 | 22,565 |
Collectively Evaluated for Impairment | 1,206,101 | 1,200,141 |
Loans Acquired with Deteriorated Credit Quality [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 5,452 | 5,563 |
Residential Real Estate Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 597,888 | 596,645 |
Individually Evaluated for Impairment | 7,962 | 8,721 |
Collectively Evaluated for Impairment | 589,926 | 587,924 |
Commercial Real Estate Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 293,570 | 288,447 |
Individually Evaluated for Impairment | 11,223 | 11,237 |
Collectively Evaluated for Impairment | 277,843 | 272,595 |
Commercial Real Estate Loans [Member] | Loans Acquired with Deteriorated Credit Quality [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 4,504 | 4,615 |
Commercial Real Estate Loans [Member] | Construction Real Estate Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 3,057 | 1,733 |
Collectively Evaluated for Impairment | 3,057 | 1,733 |
Commercial Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 33,867 | 39,978 |
Individually Evaluated for Impairment | 1,824 | 1,698 |
Collectively Evaluated for Impairment | 31,632 | 37,869 |
Commercial Loans [Member] | Loans Acquired with Deteriorated Credit Quality [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 411 | 411 |
Obligations of States and Political Subdivisions [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 61,374 | 56,923 |
Collectively Evaluated for Impairment | 61,374 | 56,923 |
Home Equity Loans and Lines of Credit [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 46,785 | 48,163 |
Individually Evaluated for Impairment | 208 | 361 |
Collectively Evaluated for Impairment | 46,040 | 47,265 |
Home Equity Loans and Lines of Credit [Member] | Loans Acquired with Deteriorated Credit Quality [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 537 | 537 |
Auto Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 193,523 | 193,078 |
Individually Evaluated for Impairment | 569 | 526 |
Collectively Evaluated for Impairment | 192,954 | 192,552 |
Other [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 3,299 | 3,302 |
Individually Evaluated for Impairment | 24 | 22 |
Collectively Evaluated for Impairment | $ 3,275 | $ 3,280 |
Loans Receivable, Net and All44
Loans Receivable, Net and Allowance for Loan Losses - Classes of Loan Portfolio, Internal Risk Rating System (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Sep. 30, 2016 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loan, total | $ 1,224,021 | $ 1,219,213 |
Commercial And Municipal Portfolio Segment | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loan, total | 388,811 | 385,348 |
Commercial And Municipal Portfolio Segment | Commercial Real Estate Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loan, total | 293,570 | 288,447 |
Commercial And Municipal Portfolio Segment | Commercial Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loan, total | 33,867 | 39,978 |
Commercial And Municipal Portfolio Segment | Obligations of States and Political Subdivisions [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loan, total | 61,374 | 56,923 |
Pass [Member] | Commercial And Municipal Portfolio Segment | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loan, total | 359,374 | 353,695 |
Pass [Member] | Commercial And Municipal Portfolio Segment | Commercial Real Estate Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loan, total | 267,727 | 260,088 |
Pass [Member] | Commercial And Municipal Portfolio Segment | Commercial Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loan, total | 30,273 | 36,684 |
Pass [Member] | Commercial And Municipal Portfolio Segment | Obligations of States and Political Subdivisions [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loan, total | 61,374 | 56,923 |
Special Mention [Member] | Commercial And Municipal Portfolio Segment | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loan, total | 7,696 | 9,066 |
Special Mention [Member] | Commercial And Municipal Portfolio Segment | Commercial Real Estate Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loan, total | 7,525 | 8,886 |
Special Mention [Member] | Commercial And Municipal Portfolio Segment | Commercial Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loan, total | 171 | 180 |
Substandard [Member] | Commercial And Municipal Portfolio Segment | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loan, total | 21,741 | 22,587 |
Substandard [Member] | Commercial And Municipal Portfolio Segment | Commercial Real Estate Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loan, total | 18,318 | 19,473 |
Substandard [Member] | Commercial And Municipal Portfolio Segment | Commercial Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loan, total | $ 3,423 | $ 3,114 |
Loans Receivable, Net and All45
Loans Receivable, Net and Allowance for Loan Losses - Schedule of Performing or Non-Performing Loans (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Sep. 30, 2016 |
Financing Receivable, Recorded Investment [Line Items] | ||
Total | $ 1,224,021 | $ 1,219,213 |
Consumer Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 844,552 | 842,921 |
Purchase Credit Impaired [Member] | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 537 | 537 |
Performing [Member] | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 833,884 | 832,624 |
Nonperforming [Member] | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 10,131 | 9,760 |
Residential Real Estate Loans [Member] | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 597,888 | 596,645 |
Residential Real Estate Loans [Member] | Performing [Member] | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 588,731 | 587,673 |
Residential Real Estate Loans [Member] | Nonperforming [Member] | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 9,157 | 8,972 |
Commercial Real Estate Loans [Member] | Construction Real Estate Loans [Member] | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 3,057 | 1,733 |
Commercial Real Estate Loans [Member] | Performing [Member] | Construction Real Estate Loans [Member] | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 3,057 | 1,733 |
Home Equity Loans and Lines of Credit [Member] | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 46,785 | 48,163 |
Home Equity Loans and Lines of Credit [Member] | Purchase Credit Impaired [Member] | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 537 | 537 |
Home Equity Loans and Lines of Credit [Member] | Performing [Member] | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 45,686 | 47,213 |
Home Equity Loans and Lines of Credit [Member] | Nonperforming [Member] | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 562 | 413 |
Auto Loans [Member] | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 193,523 | 193,078 |
Auto Loans [Member] | Performing [Member] | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 193,147 | 192,734 |
Auto Loans [Member] | Nonperforming [Member] | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 376 | 344 |
Other [Member] | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 3,299 | 3,302 |
Other [Member] | Performing [Member] | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 3,263 | 3,271 |
Other [Member] | Nonperforming [Member] | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | $ 36 | $ 31 |
Loans Receivable, Net and All46
Loans Receivable, Net and Allowance for Loan Losses - Classes of Loan Portfolio Summarized by Aging Categories (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Sep. 30, 2016 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | $ 1,209,078 | $ 1,204,129 |
31-60 Days Past Due | 3,028 | 3,538 |
61-90 Days Past Due | 860 | 1,287 |
Non-accrual | 14,945 | 13,752 |
Total Past Due | 18,833 | 18,577 |
Purchased Credit Impaired | 5,452 | 5,563 |
Total Loans | 1,233,363 | 1,228,269 |
Residential Real Estate Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 586,229 | 585,517 |
31-60 Days Past Due | 2,076 | 1,496 |
61-90 Days Past Due | 426 | 660 |
Non-accrual | 9,157 | 8,972 |
Total Past Due | 11,659 | 11,128 |
Total Loans | 597,888 | 596,645 |
Construction [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 3,057 | 1,733 |
Total Loans | 3,057 | 1,733 |
Commercial Real Estate Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 284,669 | 279,019 |
31-60 Days Past Due | 167 | 1,093 |
61-90 Days Past Due | 135 | 191 |
Non-accrual | 4,095 | 3,529 |
Total Past Due | 4,397 | 4,813 |
Purchased Credit Impaired | 4,504 | 4,615 |
Total Loans | 293,570 | 288,447 |
Commercial Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 32,662 | 38,862 |
31-60 Days Past Due | 75 | 185 |
61-90 Days Past Due | 57 | |
Non-accrual | 719 | 463 |
Total Past Due | 794 | 705 |
Purchased Credit Impaired | 411 | 411 |
Total Loans | 33,867 | 39,978 |
Obligations of States and Political Subdivisions [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 61,374 | 56,923 |
Total Loans | 61,374 | 56,923 |
Home Equity Loans and Lines of Credit [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 45,609 | 47,026 |
31-60 Days Past Due | 47 | 40 |
61-90 Days Past Due | 30 | 147 |
Non-accrual | 562 | 413 |
Total Past Due | 639 | 600 |
Purchased Credit Impaired | 537 | 537 |
Total Loans | 46,785 | 48,163 |
Auto Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 192,264 | 191,785 |
31-60 Days Past Due | 614 | 717 |
61-90 Days Past Due | 269 | 232 |
Non-accrual | 376 | 344 |
Total Past Due | 1,259 | 1,293 |
Total Loans | 193,523 | 193,078 |
Other [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 3,214 | 3,264 |
31-60 Days Past Due | 49 | 7 |
Non-accrual | 36 | 31 |
Total Past Due | 85 | 38 |
Total Loans | $ 3,299 | $ 3,302 |
Loans Receivable, Net and All47
Loans Receivable, Net and Allowance for Loan Losses - Summary of Primary Segments of ALL (Detail) - USD ($) $ in Thousands | 3 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2016 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Balance, Beginning of period | $ 9,056 | $ 8,919 | |
Individually evaluated for impairment | 466 | $ 347 | |
Charge-offs | (707) | (307) | |
Collectively evaluated for impairment | 8,876 | 8,709 | |
Recoveries | 243 | 45 | |
Provision | 750 | 600 | |
Balance, End of period | 9,342 | 9,257 | |
Residential Real Estate Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Balance, Beginning of period | 4,426 | 5,140 | |
Individually evaluated for impairment | 145 | 198 | |
Charge-offs | (76) | (91) | |
Collectively evaluated for impairment | 4,305 | 4,228 | |
Recoveries | 2 | 3 | |
Provision | 98 | (305) | |
Balance, End of period | 4,450 | 4,747 | |
Commercial Real Estate Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Balance, Beginning of period | 852 | 671 | |
Individually evaluated for impairment | 32 | 36 | |
Charge-offs | (91) | ||
Collectively evaluated for impairment | 763 | 816 | |
Recoveries | 10 | ||
Provision | 24 | 187 | |
Balance, End of period | 795 | 858 | |
Commercial Real Estate Loans [Member] | Construction Real Estate Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Balance, Beginning of period | 13 | 7 | |
Collectively evaluated for impairment | 23 | 13 | |
Provision | 10 | 7 | |
Balance, End of period | 23 | 14 | |
Commercial Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Balance, Beginning of period | 882 | 693 | |
Individually evaluated for impairment | 1 | ||
Charge-offs | (19) | (3) | |
Collectively evaluated for impairment | 964 | 882 | |
Recoveries | 0 | 1 | |
Provision | 102 | 14 | |
Balance, End of period | 965 | 705 | |
Obligations of States and Political Subdivisions [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Balance, Beginning of period | 215 | 189 | |
Collectively evaluated for impairment | 234 | 215 | |
Provision | 19 | (2) | |
Balance, End of period | 234 | 187 | |
Home Equity Loans and Lines of Credit [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Balance, Beginning of period | 455 | 461 | |
Individually evaluated for impairment | 6 | ||
Charge-offs | (25) | ||
Collectively evaluated for impairment | 435 | 455 | |
Recoveries | 1 | 1 | |
Provision | (15) | (48) | |
Balance, End of period | 441 | 389 | |
Auto Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Balance, Beginning of period | 1,880 | 1,570 | |
Individually evaluated for impairment | 282 | 113 | |
Charge-offs | (517) | (188) | |
Collectively evaluated for impairment | 1,780 | 1,767 | |
Recoveries | 228 | 37 | |
Provision | 471 | 335 | |
Balance, End of period | 2,062 | 1,754 | |
Other [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Balance, Beginning of period | 25 | 27 | |
Charge-offs | (4) | ||
Collectively evaluated for impairment | 25 | 25 | |
Recoveries | 2 | 3 | |
Provision | 2 | (3) | |
Balance, End of period | 25 | 27 | |
Unallocated [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Balance, Beginning of period | 308 | 161 | |
Collectively evaluated for impairment | 347 | $ 308 | |
Provision | 39 | 415 | |
Balance, End of period | $ 347 | $ 576 |
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 | |
Dec. 31, 2016USD ($)Contract | Dec. 31, 2015USD ($)Contract | |
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | Contract | 2 | 1 |
Real Estate Loans [Member] | Residential [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | Contract | 2 | 1 |
Pre-Modification Outstanding Recorded Investment | $ 259 | $ 81 |
Post-Modification Outstanding Recorded Investment | $ 259 | $ 81 |
Troubled Debt Restructurings [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | Contract | 2 | 1 |
Pre-Modification Outstanding Recorded Investment | $ 259 | $ 81 |
Post-Modification Outstanding Recorded Investment | $ 259 | $ 81 |
Deposits - Schedule of Deposits
Deposits - Schedule of Deposits by Major Classifications (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Sep. 30, 2016 |
Banking And Thrift [Abstract] | ||
Non-interest bearing demand accounts | $ 144,660 | $ 142,924 |
Interest bearing demand accounts | 163,320 | 167,259 |
Money market accounts | 255,763 | 249,947 |
Savings and club accounts | 144,459 | 142,021 |
Certificates of deposit | 484,739 | 512,669 |
Total | $ 1,192,941 | $ 1,214,820 |
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 | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Compensation Related Costs [Abstract] | ||
Service Cost | $ 309 | $ 249 |
Interest Cost | 235 | 245 |
Expected return on plan assets | (341) | (311) |
Amortization of unrecognized loss | 136 | 120 |
Net periodic benefit cost | $ 339 | $ 303 |
Equity Incentive Plan - Additio
Equity Incentive Plan - Additional Information (Detail) - USD ($) | Dec. 13, 2016 | Mar. 04, 2016 | May 20, 2015 | Jul. 22, 2014 | Apr. 01, 2013 | May 23, 2008 | Dec. 31, 2016 | Dec. 31, 2015 |
Compensation Related Costs Disclosure [Line Items] | ||||||||
Stock option granted | 0 | |||||||
Option vesting period | 5 years | |||||||
Option expiration period | 10 years | |||||||
Share-based compensation expense | $ 66,000 | $ 39,000 | ||||||
Equity Incentive Plan [Member] | ||||||||
Compensation Related Costs Disclosure [Line Items] | ||||||||
Common stock issuance, Grant | 2,377,326 | |||||||
2016 Plan [Member] | ||||||||
Compensation Related Costs Disclosure [Line Items] | ||||||||
Common stock issuance, Grant | 250,000 | |||||||
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 | |||||||
Restricted stock granted | 20,675 | 23,491 | 21,843 | 19,880 | 30,000 | 590,320 | ||
Share-based compensation expense | $ 66,000 | $ 39,000 | ||||||
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 | |||||||
Outstanding nonvested restricted stock | 4,677 | |||||||
Expected future expense | $ 48,000 | |||||||
Remaining vesting periods | 9 months | |||||||
Restricted Stock [Member] | 2015 [Member] | ||||||||
Compensation Related Costs Disclosure [Line Items] | ||||||||
Restricted shares vesting period | 40 months | |||||||
Outstanding nonvested restricted stock | 10,437 | |||||||
Expected future expense | $ 143,000 | |||||||
Remaining vesting periods | 1 year 9 months | |||||||
Restricted Stock [Member] | March 4, 2016 [Member] | ||||||||
Compensation Related Costs Disclosure [Line Items] | ||||||||
Restricted shares vesting period | 43 months | |||||||
Restricted Stock [Member] | 12/13/16 [Member] | ||||||||
Compensation Related Costs Disclosure [Line Items] | ||||||||
Restricted shares vesting period | 46 months | |||||||
Outstanding nonvested restricted stock | 20,675 | |||||||
Expected future expense | $ 335,000 | |||||||
Remaining vesting periods | 3 years 9 months | |||||||
Restricted Stock [Member] | 2016 [Member] | ||||||||
Compensation Related Costs Disclosure [Line Items] | ||||||||
Outstanding nonvested restricted stock | 16,782 | |||||||
Expected future expense | $ 234,000 | |||||||
Remaining vesting periods | 2 years 9 months | |||||||
Non Qualified Stock Option [Member] | ||||||||
Compensation Related Costs Disclosure [Line Items] | ||||||||
Stock option granted | 1,140,469 | |||||||
Incentive Stock Option [Member] | ||||||||
Compensation Related Costs Disclosure [Line Items] | ||||||||
Stock option granted | 317,910 |
Equity Incentive Plan - Schedul
Equity Incentive Plan - Schedule of Stock Option Activity (Detail) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended |
Dec. 31, 2016 | Sep. 30, 2016 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ||
Number of Stock Options, Outstanding, September 30, 2016 | 905,987 | |
Number of Stock Options, Granted | 0 | |
Number of Stock Options, Exercised | 262,092 | |
Number of Stock Options, Forfeited | 0 | |
Number of Stock Options, Outstanding, December 31, 2016 | 643,895 | 905,987 |
Number of Stock Options, Exercisable at year-end | 643,895 | |
Weighted-average Exercise Price, Outstanding, September 30, 2016 | $ 12.35 | |
Weighted-average Exercise Price, Granted | 0 | |
Weighted-average Exercise Price, Exercised | 12.35 | |
Weighted-average Exercise Price, Forfeited | 0 | |
Weighted-average Exercise Price, Outstanding, December 31, 2016 | 12.35 | $ 12.35 |
Weighted-average Exercise Price, Exercisable at year-end | $ 12.35 | |
Weighted-average Remaining Contractual Term (in years), Outstanding | 1 year 5 months 1 day | 1 year 8 months 1 day |
Weighted-average Remaining Contractual Term (in years), Granted | 0 years | |
Weighted-average Remaining Contractual Term (in years), Exercised | 1 year 5 months 1 day | |
Weighted-average Remaining Contractual Term (in years), Forfeited | 0 years | |
Weighted-average Remaining Contractual Term (in years), Exercisable | 1 year 5 months 1 day | |
Aggregate Intrinsic Value, Outstanding, Beginning Balance | $ 1,341 | |
Aggregate Intrinsic Value, Granted | 0 | |
Aggregate Intrinsic Value, Exercised | 0 | |
Aggregate Intrinsic Value, Forfeited | 0 | |
Aggregate Intrinsic Value, Outstanding, Ending Balance | 2,170 | $ 1,341 |
Aggregate Intrinsic Value, Exercisable at year-end | $ 2,170 |
Equity Incentive Plan - Sched53
Equity Incentive Plan - Schedule of Restricted Stock Option Activity (Detail) - Restricted Stock [Member] | 3 Months Ended |
Dec. 31, 2016$ / sharesshares | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Number of Restricted Stock, Nonvested at September 30, 2016 | shares | 31,896 |
Number of Restricted Stock, Granted | shares | 20,675 |
Number of Restricted Stock, Vested | shares | 0 |
Number of Restricted Stock, Forfeited | shares | 0 |
Number of Restricted Stock, Nonvested at December 31, 2016 | shares | 52,571 |
Weighted-average Grant Date Fair Value, Nonvested at September 30, 2016 | $ / shares | $ 13.01 |
Weighted-average Grant Date Fair Value, Granted | $ / shares | 16.57 |
Weighted-average Grant Date Fair Value, Vested | $ / shares | 0 |
Weighted-average Grant Date Fair Value, Forfeited | $ / shares | 0 |
Weighted-average Grant Date Fair Value, Nonvested at December 31, 2016 | $ / shares | $ 14.41 |
Fair Value Measurement - Schedu
Fair Value Measurement - Schedule of Securities, Derivatives, Other Real Estate Owned and Impaired Loans Measured at Fair Value (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Sep. 30, 2016 |
Securities available-for-sale measured on a recurring basis | ||
Total debt and equity securities | $ 392,113 | $ 390,410 |
Derivatives | 1,362 | 453 |
Foreclosed real estate | 2,436 | 2,659 |
Impaired loans | 21,344 | 22,218 |
Mortgage servicing rights | 358 | 398 |
Fair Value, Measurements, Nonrecurring [Member] | ||
Securities available-for-sale measured on a recurring basis | ||
Foreclosed real estate | 2,436 | 2,659 |
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 | 25 |
Significant Other Observable Inputs (Level 2) [Member] | ||
Securities available-for-sale measured on a recurring basis | ||
Total debt and equity securities | 383,850 | 382,900 |
Derivatives | 1,362 | 453 |
Significant Unobservable Inputs (Level 3) [Member] | ||
Securities available-for-sale measured on a recurring basis | ||
Total debt and equity securities | 8,238 | 7,485 |
Impaired loans | 21,344 | 22,218 |
Mortgage servicing rights | 358 | 398 |
Significant Unobservable Inputs (Level 3) [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Securities available-for-sale measured on a recurring basis | ||
Foreclosed real estate | 2,436 | 2,659 |
Mortgage-Backed Securities [Member] | ||
Securities available-for-sale measured on a recurring basis | ||
Total debt and equity securities | 223,763 | 219,162 |
Mortgage-Backed Securities [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||
Securities available-for-sale measured on a recurring basis | ||
Total debt and equity securities | 223,763 | 219,162 |
Obligations of States and Political Subdivisions [Member] | ||
Securities available-for-sale measured on a recurring basis | ||
Total debt and equity securities | 70,521 | 73,690 |
Obligations of States and Political Subdivisions [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||
Securities available-for-sale measured on a recurring basis | ||
Total debt and equity securities | 70,521 | 73,690 |
U.S. Government Agency Securities [Member] | ||
Securities available-for-sale measured on a recurring basis | ||
Total debt and equity securities | 25,800 | 25,941 |
U.S. Government Agency Securities [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||
Securities available-for-sale measured on a recurring basis | ||
Total debt and equity securities | 25,800 | 25,941 |
Corporate Obligations [Member] | ||
Securities available-for-sale measured on a recurring basis | ||
Total debt and equity securities | 38,788 | 38,418 |
Corporate Obligations [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||
Securities available-for-sale measured on a recurring basis | ||
Total debt and equity securities | 30,550 | 31,433 |
Corporate Obligations [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||
Securities available-for-sale measured on a recurring basis | ||
Total debt and equity securities | 8,238 | 6,985 |
Other Debt Securities [Member] | ||
Securities available-for-sale measured on a recurring basis | ||
Total debt and equity securities | 33,216 | 33,174 |
Other Debt Securities [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||
Securities available-for-sale measured on a recurring basis | ||
Total debt and equity securities | 33,216 | 32,674 |
Other Debt Securities [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||
Securities available-for-sale measured on a recurring basis | ||
Total debt and equity securities | 500 | |
Equity Securities-Financial Services [Member] | ||
Securities available-for-sale measured on a recurring basis | ||
Total debt and equity securities | 25 | 25 |
Equity Securities-Financial Services [Member] | 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 | $ 25 |
Fair Value Measurement - Sche55
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 | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Beginning balance | $ 7,485 | $ 4,211 |
Purchases, sales, issuances, settlements, net | 756 | 3,000 |
Total unrealized gain (loss): | ||
Included in other comprehensive income | (3) | (75) |
Ending balance | $ 8,238 | $ 7,136 |
Fair Value Measurement - Additi
Fair Value Measurement - Additional Information (Detail) $ in Thousands | 3 Months Ended | 12 Months Ended |
Dec. 31, 2016USD ($)Loan | Sep. 30, 2016USD ($)Loan | |
Fair Value Disclosures [Abstract] | ||
Number of impaired loans | Loan | 208 | 205 |
Impaired loans, carrying value | $ 21,800 | $ 22,600 |
Impaired loans, valuation allowance | 466 | 347 |
Impaired loans, net fair value | $ 21,300 | $ 22,200 |
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 | 3 Months Ended | 12 Months Ended |
Dec. 31, 2016 | Sep. 30, 2016 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Unobservable Input | Prepayment speeds | Prepayment speeds |
Fair value input appraisal adjustments | 16.20% | 17.20% |
Minimum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value input appraisal adjustments | 7.00% | 2.00% |
Maximum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value input appraisal adjustments | 34.00% | 33.00% |
Impaired Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value Estimate | $ 21,344 | $ 22,218 |
Unobservable Input | Appraisal adjustments | Appraisal adjustments |
Fair value input appraisal adjustments | 24.00% | 23.00% |
Impaired Loans [Member] | Appraisal of Collateral [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Valuation Techniques | Appraisal of collateral | Appraisal of collateral |
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% | 60.00% |
Foreclosed Real Estate Owned [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value Estimate | $ 2,436 | $ 2,659 |
Unobservable Input | Appraisal adjustments | Appraisal adjustments |
Fair value input appraisal adjustments | 22.70% | 22.10% |
Foreclosed Real Estate Owned [Member] | Appraisal of Collateral [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Valuation Techniques | Appraisal of collateral | Appraisal of collateral |
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 | 20.00% | 20.00% |
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 | 46.00% | 46.00% |
Mortgage Servicing Rights [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value Estimate | $ 358 | $ 398 |
Unobservable Input | Discount rate | Discount rate |
Fair value input appraisal adjustments | 11.60% | 12.00% |
Mortgage Servicing Rights [Member] | Appraisal of Collateral [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Valuation Techniques | Discounted cash flow | Discounted cash flow |
Mortgage Servicing Rights [Member] | Minimum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value input appraisal adjustments | 11.00% | 12.00% |
Mortgage Servicing Rights [Member] | Maximum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value input appraisal adjustments | 16.00% | 16.00% |
Fair Value Measurement - Sche58
Fair Value Measurement - Schedule of Estimate of Fair Value Using Methodologies (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Sep. 30, 2016 |
Financial assets: | ||
Investment and mortgage backed securities available for sale | $ 392,113 | $ 390,410 |
Loans receivable, net | 21,300 | 22,200 |
Mortgage servicing rights | 358 | 398 |
Derivatives | 1,362 | 453 |
Bank-owned life insurance | 36,856 | 36,593 |
Financial liabilities: | ||
Other borrowings | 215,571 | 230,601 |
Advances by borrowers for taxes and insurance | 7,719 | 4,956 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Financial assets: | ||
Investment and mortgage backed securities available for sale | 25 | 25 |
Significant Other Observable Inputs (Level 2) [Member] | ||
Financial assets: | ||
Investment and mortgage backed securities available for sale | 383,850 | 382,900 |
Derivatives | 1,362 | 453 |
Significant Unobservable Inputs (Level 3) [Member] | ||
Financial assets: | ||
Investment and mortgage backed securities available for sale | 8,238 | 7,485 |
Mortgage servicing rights | 358 | 398 |
Carrying Value [Member] | ||
Financial assets: | ||
Cash and cash equivalents | 39,851 | 43,658 |
Certificates of deposit | 1,000 | 1,250 |
Investment and mortgage backed securities available for sale | 392,113 | 390,410 |
Loans receivable, net | 1,224,021 | 1,219,213 |
Accrued interest receivable | 5,950 | 5,769 |
Regulatory stock | 16,680 | 15,463 |
Mortgage servicing rights | 358 | 398 |
Derivatives | 1,362 | 453 |
Bank-owned life insurance | 36,856 | 36,593 |
Financial liabilities: | ||
Deposits | 1,192,941 | 1,214,820 |
Short-term borrowings | 174,918 | 129,460 |
Other borrowings | 215,571 | 230,601 |
Advances by borrowers for taxes and insurance | 7,719 | 4,956 |
Accrued interest payable | 1,029 | 1,046 |
Estimated Fair Value [Member] | ||
Financial assets: | ||
Cash and cash equivalents | 39,851 | 43,658 |
Certificates of deposit | 1,012 | 1,269 |
Investment and mortgage backed securities available for sale | 392,113 | 390,410 |
Loans receivable, net | 1,220,648 | 1,237,759 |
Accrued interest receivable | 5,950 | 5,769 |
Regulatory stock | 16,680 | 15,463 |
Mortgage servicing rights | 358 | 398 |
Derivatives | 1,362 | 453 |
Bank-owned life insurance | 36,856 | 36,593 |
Financial liabilities: | ||
Deposits | 1,194,191 | 1,218,894 |
Short-term borrowings | 174,918 | 129,460 |
Other borrowings | 215,726 | 231,911 |
Advances by borrowers for taxes and insurance | 7,719 | 4,956 |
Accrued interest payable | 1,029 | 1,046 |
Estimated Fair Value [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Financial assets: | ||
Cash and cash equivalents | 39,851 | 43,658 |
Investment and mortgage backed securities available for sale | 25 | 25 |
Accrued interest receivable | 5,950 | 5,769 |
Regulatory stock | 16,680 | 15,463 |
Bank-owned life insurance | 36,856 | 36,593 |
Financial liabilities: | ||
Deposits | 708,202 | 702,151 |
Short-term borrowings | 174,918 | 129,460 |
Advances by borrowers for taxes and insurance | 7,719 | 4,956 |
Accrued interest payable | 1,029 | 1,046 |
Estimated Fair Value [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||
Financial assets: | ||
Investment and mortgage backed securities available for sale | 384,350 | 382,900 |
Derivatives | 1,362 | 453 |
Estimated Fair Value [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||
Financial assets: | ||
Certificates of deposit | 1,012 | 1,269 |
Investment and mortgage backed securities available for sale | 7,738 | 7,485 |
Loans receivable, net | 1,220,648 | 1,237,759 |
Mortgage servicing rights | 358 | 398 |
Financial liabilities: | ||
Deposits | 485,989 | 516,743 |
Other borrowings | $ 215,726 | $ 231,911 |
Accumulated Other Comprehensi59
Accumulated Other Comprehensive Loss - Summary of Activity in Accumulated Other Comprehensive Income (Loss) (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Schedule of Available-for-sale Securities [Line Items] | ||
Beginning Balance | $ 176,344 | |
Total other comprehensive loss | (6,063) | $ (2,167) |
Ending Balance | 171,439 | |
Defined Benefit Pension Plan [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Beginning Balance | (6,083) | (5,325) |
Amounts reclassified from accumulated other comprehensive loss, net of tax | 90 | 79 |
Total other comprehensive loss | 90 | 79 |
Ending Balance | (5,993) | (5,246) |
Unrealized Gains (Losses) on Securities Available for Sale [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Beginning Balance | 3,952 | 2,930 |
Other comprehensive income (loss) before reclassifications | (6,753) | (2,244) |
Amounts reclassified from accumulated other comprehensive loss, net of tax | (2) | |
Total other comprehensive loss | (6,753) | (2,246) |
Ending Balance | (2,801) | 684 |
Derivatives [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Beginning Balance | 299 | |
Other comprehensive income (loss) before reclassifications | 593 | |
Amounts reclassified from accumulated other comprehensive loss, net of tax | 7 | |
Total other comprehensive loss | 600 | |
Ending Balance | 899 | |
Accumulated Other Comprehensive Loss [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Beginning Balance | (1,832) | (2,395) |
Other comprehensive income (loss) before reclassifications | (6,160) | (2,244) |
Amounts reclassified from accumulated other comprehensive loss, net of tax | 97 | 77 |
Total other comprehensive loss | (6,063) | (2,167) |
Ending Balance | $ (7,895) | $ (4,562) |
Accumulated Other Comprehensi60
Accumulated Other Comprehensive Loss - Summary of Reclassification Out of Accumulated Other Comprehensive Income (Loss) (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Schedule of Available-for-sale Securities [Line Items] | ||
Gain on sale of investments | $ 3 | |
Interest expense | $ (3,018) | (2,723) |
Income taxes | (400) | (566) |
Reclassification Out of Accumulated Other Comprehensive Income (Loss) [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Net of tax | (97) | (77) |
Reclassification Out of Accumulated Other Comprehensive Income (Loss) [Member] | Unrealized Gains (Losses) on Securities Available for Sale [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Gain on sale of investments | 3 | |
Income taxes | (1) | |
Net of tax | 2 | |
Reclassification Out of Accumulated Other Comprehensive Income (Loss) [Member] | Defined Benefit Pension Plan [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Income taxes | 46 | 41 |
Net of tax | (90) | (79) |
Compensation and employee benefits | (136) | $ (120) |
Reclassification Out of Accumulated Other Comprehensive Income (Loss) [Member] | Derivatives [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Interest expense | (11) | |
Income taxes | 4 | |
Net of tax | $ (7) |
Derivatives And Hedging Activ61
Derivatives And Hedging Activities - Schedule of Fair Value of Derivative Financial Instruments as well as their Classification on Consolidated Balance Sheet (Detail) - USD ($) $ in Thousands | Dec. 31, 2016 | Sep. 30, 2016 |
Derivatives Fair Value [Line Items] | ||
Fair Values of Derivative Instruments | $ 1,362 | $ 453 |
Designated as Hedging Instrument [Member] | Interest Rate Products [Member] | Other Assets [Member] | ||
Derivatives Fair Value [Line Items] | ||
Fair Values of Derivative Instruments | $ 1,362 | $ 453 |
Derivative Instruments and Hedg
Derivative Instruments and Hedging Activities - Additional Information (Detail) | 3 Months Ended | 12 Months Ended | |
Dec. 31, 2016USD ($)Contract | Dec. 31, 2015USD ($) | Sep. 30, 2017USD ($) | |
Derivative Instruments And Hedging Activities Disclosures [Line Items] | |||
Interest expense | $ 3,018,000 | $ 2,723,000 | |
Increase (decrease) in accrued interest payable | (17,000) | $ 171,000 | |
Net liability position of derivatives | 0 | ||
Minimum [Member] | |||
Derivative Instruments And Hedging Activities Disclosures [Line Items] | |||
Debt Instrument, collateral amount | 0 | ||
Designated as Hedging Instrument [Member] | Cash Flow Hedges of Interest Rate Risk [Member] | Reclassification Out of Accumulated Other Comprehensive Income (Loss) [Member] | |||
Derivative Instruments And Hedging Activities Disclosures [Line Items] | |||
Interest expense | $ 11,000 | ||
Designated as Hedging Instrument [Member] | Cash Flow Hedges of Interest Rate Risk [Member] | Scenario, Forecast [Member] | Reclassification Out of Accumulated Other Comprehensive Income (Loss) [Member] | |||
Derivative Instruments And Hedging Activities Disclosures [Line Items] | |||
Increase (decrease) in accrued interest payable | $ 0 | ||
Designated as Hedging Instrument [Member] | Cash Flow Hedges of Interest Rate Risk [Member] | Interest Rate Swaps [Member] | Variable Rate [Member] | FHLB Advances [Member] | |||
Derivative Instruments And Hedging Activities Disclosures [Line Items] | |||
Derivative, number of instruments | Contract | 3 | ||
Derivative, notional amount | $ 50,000,000 |
Derivatives And Hedging Activ63
Derivatives And Hedging Activities - Schedule of Pre-Tax Net Gains (Losses) of Cash flow Hedges (Detail) - Designated as Hedging Instrument [Member] - Cash Flow Hedges of Interest Rate Risk [Member] $ in Thousands | 3 Months Ended |
Dec. 31, 2016USD ($) | |
Derivative Instruments Gain Loss [Line Items] | |
Gain Recognized in OCI on Derivative (Effective Portion) | $ 1,052 |
(Loss) Reclassified from Accumulated OCI into Income (Effective Portion) | (11) |
Interest Rate Products [Member] | |
Derivative Instruments Gain Loss [Line Items] | |
Gain Recognized in OCI on Derivative (Effective Portion) | 1,052 |
Interest Rate Products [Member] | Interest Expense [Member] | |
Derivative Instruments Gain Loss [Line Items] | |
(Loss) Reclassified from Accumulated OCI into Income (Effective Portion) | $ (11) |