Document and Entity Information
Document and Entity Information - shares | 3 Months Ended | |
Dec. 31, 2018 | Feb. 04, 2019 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Dec. 31, 2018 | |
Document Fiscal Year Focus | 2,019 | |
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 Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Common Stock, Shares Outstanding | 11,819,814 |
Consolidated Balance Sheet (Una
Consolidated Balance Sheet (Unaudited) - USD ($) $ in Thousands | Dec. 31, 2018 | Sep. 30, 2018 |
ASSETS | ||
Cash and due from banks | $ 35,849 | $ 39,197 |
Interest-bearing deposits with other institutions | 3,801 | 4,342 |
Total cash and cash equivalents | 39,650 | 43,539 |
Certificates of deposit | 500 | 500 |
Investment securities available for sale, at fair value | 376,054 | 371,438 |
Loans receivable (net of allowance for loan losses of $12,221 and $11,688) | 1,334,304 | 1,305,071 |
Regulatory stock, at cost | 15,121 | 12,973 |
Premises and equipment, net | 14,448 | 14,601 |
Bank-owned life insurance | 38,874 | 38,630 |
Foreclosed real estate | 876 | 1,141 |
Intangible assets, net | 1,291 | 1,375 |
Goodwill | 13,801 | 13,801 |
Deferred income taxes | 6,836 | 8,441 |
Other assets | 21,123 | 22,280 |
TOTAL ASSETS | 1,862,878 | 1,833,790 |
LIABILITIES | ||
Deposits | 1,307,917 | 1,336,855 |
Short-term borrowings | 239,824 | 179,773 |
Other borrowings | 112,373 | 118,723 |
Advances by borrowers for taxes and insurance | 8,435 | 6,826 |
Other liabilities | 9,554 | 12,427 |
TOTAL LIABILITIES | 1,678,103 | 1,654,604 |
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; 11,819,814 and 11,782,718 outstanding at December 31, 2018 and September 30, 2018, respectively) | 181 | 181 |
Additional paid in capital | 180,631 | 180,765 |
Unallocated common stock held by the Employee Stock Ownership Plan (ESOP) | (8,142) | (8,255) |
Retained earnings | 96,026 | 94,112 |
Treasury stock, at cost; 6,313,281 and 6,350,377 shares outstanding at December 31, 2018 and September 30, 2018, respectively | (77,259) | (77,707) |
Accumulated other comprehensive loss | (6,662) | (9,910) |
TOTAL STOCKHOLDERS’ EQUITY | 184,775 | 179,186 |
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $ 1,862,878 | $ 1,833,790 |
Consolidated Balance Sheet (U_2
Consolidated Balance Sheet (Unaudited) (Parenthetical) - USD ($) $ in Thousands | Dec. 31, 2018 | Sep. 30, 2018 |
Statement Of Financial Position [Abstract] | ||
Allowance for loan losses | $ 12,221 | $ 11,688 |
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 | 11,819,814 | 11,782,718 |
Treasury stock, shares outstanding | 6,313,281 | 6,350,377 |
Consolidated Statement of Opera
Consolidated Statement of Operations (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
INTEREST INCOME | ||
Loans receivable, including fees | $ 13,907 | $ 12,783 |
Investment securities: | ||
Taxable | 2,482 | 2,058 |
Exempt from federal income tax | 136 | 288 |
Other investment income | 344 | 247 |
Total interest income | 16,869 | 15,376 |
INTEREST EXPENSE | ||
Deposits | 3,388 | 2,377 |
Short-term borrowings | 1,077 | 584 |
Other borrowings | 519 | 647 |
Total interest expense | 4,984 | 3,608 |
NET INTEREST INCOME | 11,885 | 11,768 |
Provision for loan losses | 876 | 1,000 |
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES | 11,009 | 10,768 |
NONINTEREST INCOME | ||
Service fees on deposit accounts | 863 | 883 |
Services charges and fees on loans | 330 | 369 |
Unrealized losses on equity securities | (2) | |
Trust and investment fees | 239 | 240 |
Gain on sale of investments, net | 4 | |
Earnings on Bank-owned life insurance | 244 | 255 |
Insurance commissions | 201 | 171 |
Other | 247 | 51 |
Total noninterest income | 2,126 | 1,969 |
NONINTEREST EXPENSE | ||
Compensation and employee benefits | 6,124 | 6,008 |
Occupancy and equipment | 1,026 | 1,185 |
Professional fees | 524 | 566 |
Data processing | 903 | 929 |
Advertising | 155 | 158 |
Federal Deposit Insurance Corporation (FDIC) premiums | 187 | 189 |
Gain on foreclosed real estate | (115) | (36) |
Amortization of intangible assets | 84 | 144 |
Other | 764 | 1,139 |
Total noninterest expense | 9,652 | 10,282 |
Income before income taxes | 3,483 | 2,455 |
Income taxes | 474 | 4,093 |
NET INCOME (LOSS) | $ 3,009 | $ (1,638) |
Earnings per share | ||
Basic | $ 0.27 | $ (0.15) |
Diluted | 0.27 | (0.15) |
Dividends per share | $ 0.10 | $ 0.09 |
Consolidated Statement of Compr
Consolidated Statement of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Statement Of Income And Comprehensive Income [Abstract] | ||
Net income (loss) | $ 3,009 | $ (1,638) |
Investment securities available for sale: | ||
Unrealized holding gain(loss) | 5,059 | (1,951) |
Tax effect | (1,068) | 663 |
Reclassification of gains recognized in net income | (4) | |
Tax effect | 1 | |
Net of tax amount | 3,988 | (1,288) |
Derivative and hedging activities adjustments: | ||
Changes in unrealized holding (losses) gains on derivatives included in net income | (725) | 457 |
Tax effect | 152 | (156) |
Reclassification adjustment for gains on derivatives included in net income | (217) | (23) |
Tax effect | 46 | 8 |
Net of tax amount | (744) | 286 |
Total other comprehensive income (loss) | 3,244 | (1,002) |
Comprehensive income (loss) | $ 6,253 | $ (2,640) |
Consolidated Statement of Chang
Consolidated Statement of Changes in Stockholders' Equity (Unaudited) - USD ($) $ in Thousands | Total | Common Stock [Member] | Additional Paid-In Capital [Member] | Unallocated Common Stock Held by the ESOP [Member] | Retained Earnings [Member] | Treasury Stock [Member] | Accumulated Other Comprehensive Loss [Member] |
Beginning Balance at Sep. 30, 2017 | $ 182,727 | $ 181 | $ 180,764 | $ (8,720) | $ 91,147 | $ (79,891) | $ (754) |
Beginning Balance, Shares at Sep. 30, 2017 | 11,596,263 | ||||||
Net income (loss) | (1,638) | (1,638) | |||||
Other comprehensive income (loss) | (1,002) | (1,002) | |||||
Cash dividends declared ($0.09 and $0.10 per share) | (963) | (963) | |||||
Stock based compensation | 80 | 80 | |||||
Allocation of ESOP stock | 183 | 67 | 116 | ||||
Allocation of treasury shares to incentive plan | (281) | 281 | |||||
Allocation of treasury shares to incentive plan, Shares | 22,994 | ||||||
Stock options exercised | 92 | (98) | 190 | ||||
Stock options exercised, Shares | 15,533 | ||||||
Ending Balance at Dec. 31, 2017 | 179,479 | $ 181 | 180,532 | (8,604) | 88,546 | (79,420) | (1,756) |
Ending Balance, Shares at Dec. 31, 2017 | 11,634,790 | ||||||
Beginning Balance at Sep. 30, 2018 | $ 179,186 | $ 181 | 180,765 | (8,255) | 94,112 | (77,707) | (9,910) |
Beginning Balance, Shares at Sep. 30, 2018 | 11,782,718 | 11,782,718 | |||||
Net income (loss) | $ 3,009 | 3,009 | |||||
Other comprehensive income (loss) | 3,244 | 3,244 | |||||
Change in accounting principal for adoption of ASU 2016-01 | ASU 2016-01 [Member] | (4) | 4 | |||||
Cash dividends declared ($0.09 and $0.10 per share) | (1,091) | (1,091) | |||||
Stock based compensation | 252 | 252 | |||||
Allocation of ESOP stock | 175 | 62 | 113 | ||||
Allocation of treasury shares to incentive plan | (448) | 448 | |||||
Allocation of treasury shares to incentive plan, Shares | 37,096 | ||||||
Ending Balance at Dec. 31, 2018 | $ 184,775 | $ 181 | $ 180,631 | $ (8,142) | $ 96,026 | $ (77,259) | $ (6,662) |
Ending Balance, Shares at Dec. 31, 2018 | 11,819,814 | 11,819,814 |
Consolidated Statement of Cha_2
Consolidated Statement of Changes in Stockholders' Equity (Unaudited) (Parenthetical) - $ / shares | 3 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Cash dividends declared, per share | $ 0.10 | $ 0.09 |
Retained Earnings [Member] | ||
Cash dividends declared, per share | $ 0.10 | $ 0.09 |
Consolidated Statement of Cash
Consolidated Statement of Cash Flows (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
OPERATING ACTIVITIES | ||
Net income (loss) | $ 3,009 | $ (1,638) |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||
Provision for loan losses | 876 | 1,000 |
Provision for depreciation and amortization | 286 | 305 |
Amortization and accretion of discounts and premiums, net | 848 | 1,167 |
Net gain on sale of investment securities | (4) | |
Net loss recognized on equity securities- financial | 2 | |
Compensation expense on ESOP | 175 | 183 |
Stock based compensation | 252 | 80 |
Decrease (increase) in accrued interest receivable | 379 | (124) |
Increase in accrued interest payable | 119 | 184 |
Earnings on bank-owned life insurance | (244) | (255) |
Deferred federal income taxes | 743 | 3,329 |
Decrease in accrued pension liability | (119) | (135) |
Gain on foreclosed real estate, net | (115) | (36) |
Amortization of intangible assets | 84 | 144 |
Other, net | (2,942) | 1,660 |
Net cash provided by operating activities | 3,349 | 5,864 |
Investment securities available for sale: | ||
Proceeds from sale of investment securities | 9,931 | |
Proceeds from principal repayments and maturities | 10,833 | 19,254 |
Purchases | (20,729) | (22,455) |
Increase in loans receivable, net | (30,601) | (41,724) |
Redemption of regulatory stock | 4,239 | 3,151 |
Purchase of regulatory stock | (6,387) | (6,164) |
Proceeds from sale of foreclosed real estate | 432 | 498 |
Purchase of premises, equipment and software | (237) | 45 |
Net cash used for investing activities | (32,519) | (47,395) |
FINANCING ACTIVITIES | ||
Decrease in deposits, net | (28,938) | (23,840) |
Net increase in short-term borrowings | 60,051 | 76,590 |
Proceeds from other borrowings | 20,000 | 14,600 |
Repayment of other borrowings | (26,350) | (34,000) |
Increase in advances by borrowers for taxes and insurance | 1,609 | 6,246 |
Dividends on common stock | (1,091) | (963) |
Net cash provided by financing activities | 25,281 | 38,633 |
Decrease in cash and cash equivalents | (3,889) | (2,898) |
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR | 43,539 | 41,683 |
CASH AND CASH EQUIVALENTS AT END OF YEAR | 39,650 | 38,785 |
Cash Paid: | ||
Interest | 4,865 | 3,424 |
Income taxes | (2) | |
Noncash items: | ||
Transfers from loans to foreclosed real estate | 52 | 403 |
Unrealized holding gains (losses) | $ 5,055 | $ (1,951) |
Nature of Operations and Basis
Nature of Operations and Basis of Presentation | 3 Months Ended |
Dec. 31, 2018 | |
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 “FDIC”). The investment in the Bank 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, 2018 are not necessarily indicative of the results that may be expected for the year ending September 30, 2019. |
Earnings per Share
Earnings per Share | 3 Months Ended |
Dec. 31, 2018 | |
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 June 30, 2018 and 2017. Three Months Ended December 31, December 31, 2018 2017 Weighted-average common shares outstanding 18,133,095 18,133,095 Average treasury stock shares (6,316,361 ) (6,521,843 ) Average unearned ESOP shares (809,051 ) (854,325 ) Average unearned non-vested shares (56,327 ) (39,789 ) Weighted average common shares and common stock equivalents used to calculate basic earnings per share 10,951,356 10,717,138 Additional common stock equivalents (non-vested stock) used to calculate diluted earnings per share — — Additional common stock equivalents (stock options) used to calculate diluted earnings per share — — Weighted average common shares and common stock equivalents used to calculate diluted earnings per share 10,951,356 10,717,138 At December 31, 2018 there were 52,272 shares of nonvested stock outstanding at an average weighted price of $15.95 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, 2017 there were 41,062 shares of nonvested stock outstanding at an average weighted price of $15.98 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, 2018 | |
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. |
Accounting Pronouncements
Accounting Pronouncements | 3 Months Ended |
Dec. 31, 2018 | |
Accounting Changes And Error Corrections [Abstract] | |
Accounting Pronouncements | 4. Accounting Pronouncements Adoption of New Standards In May 2014, the FASB issued ASU No. 2014-09, “Revenue from contracts with customers.” In January 2016, the FASB issued ASU No. 2016-01, “Recognition and Measurement of Financial Assets and Financial Liabilities.” Fair Value Investment Securities Recent Accounting Pronouncements In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments In January 2017, the FASB issued ASU 2017-04, Simplifying the Test for Goodwill Impairment The Company is currently evaluating the impact the adoption of the standard will have on the Company’s financial position or results of operations In March 2017, the FASB issued ASU 2017-08, Receivables – Nonrefundable Fees and Other Costs (Subtopic 310-20). In July 2017, the FASB issued ASU 2017-11, Earnings Per Share (Topic 260), Distinguishing Liabilities from Equity (Topic 480), and Derivative and Hedging (Topic 815) Debt—Debt with Conversion and Other Options In January 2018, the FASB issued ASU 2018-01, Leases (Topic 842) In June 2018, the FASB issued ASU 2018-07, Compensation – Stock Compensation (Topic 718) In July 2018, the FASB issued ASU 2018-09, Codification Improvements, represents changes to clarify, correct errors in, or make minor improvements to the Codification. The amendments make the Codification easier to understand and easier to apply by eliminating inconsistencies and providing clarifications. The transition and effective date guidance is based on the facts and circumstances of each amendment. Some of the amendments do not require transition guidance and will be effective upon issuance of this ASU. However, many of the amendments in this ASU do have transition guidance and effective dates for annual periods beginning after December 15, 2018, for public business entities. This update is not expected to have a significant impact on the Company’s financial statements. In July 2018, the FASB issued ASU 2018-10, Codification Improvements to Topic 842, Leases In July 2018, the FASB issued ASU 2018-11, Leases (Topic 842): Targeted Improvements Leases Revenue from Contracts with Customers In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework – Changes the Disclosure Requirements for Fair Value Measurements In August 2018, the FASB issued ASU 2018-14, Compensation – Retirement Benefits (Topic 715-20). In October 2018, the FASB issued ASU 2018-16 , Derivatives and Hedging (Topic 815) In November 2018, the FASB issued ASU 2018-19, Codification Improvements to Topic 326, Financial Instruments - Credit Losses, Leases In December 2018, the FASB issued ASU 2018-20, Leases (Topic 842), Leases |
Investment Securities
Investment Securities | 3 Months Ended |
Dec. 31, 2018 | |
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, 2018 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Available for Sale Fannie Mae $ 157,353 $ 238 $ (3,764 ) $ 153,827 Freddie Mac 96,057 42 (2,737 ) 93,362 Governmental National Mortgage Association Securities 21,397 5 (598 ) 20,804 Total mortgage-backed securities 274,807 285 (7,099 ) 267,993 Obligations of states and political subdivisions 33,599 207 (882 ) 32,924 U.S. government agency securities 9,813 18 (42 ) 9,789 Corporate obligations 47,987 154 (1,297 ) 46,844 Other debt securities 19,186 22 (704 ) 18,504 Total debt securities $ 385,392 $ 686 $ (10,024 ) $ 376,054 September 30, 2018 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Available for Sale Fannie Mae $ 147,433 $ 17 $ (5,827 ) $ 141,623 Freddie Mac 99,587 2 (4,415 ) 95,174 Governmental National Mortgage Association 22,164 — (838 ) 21,326 Total mortgage-backed securities 269,184 19 (11,080 ) 258,123 Obligations of states and political subdivisions 42,090 251 (1,392 ) 40,949 U.S. government agency securities 5,678 2 (122 ) 5,558 Corporate obligations 48,559 116 (1,260 ) 47,415 Other debt securities 20,295 — (922 ) 19,373 Total debt securities 385,806 388 (14,776 ) 371,418 Equity securities - financial services (a) 25 — (5 ) 20 Total $ 385,831 $ 388 $ (14,781 ) $ 371,438 (a) As of October 1, 2018, the Company adopted ASU 2016-01 resulting in reclassification of equity securities from available for-sale investment securities to other assets. At September 30, 2018, the Company's investment in equity securities was comprised of common stock issued by an unrelated bank holding company. At December 31, 2018 and September 30, 2018, the Company had $18,000 and $20,000 respectively, in equity securities recorded at fair value. Prior to October 1, 2018, equity securities were stated at fair value with unrealized gains and losses reported as a separate component of AOCI, net of tax. At September 30, 2018, net unrealized loss net of tax of $4,000 had been recognized in AOCI. On October 1, 2018, these unrealized gains and losses were reclassified out of AOCI and into retained earnings with subsequent changes in fair value being recognized in net income. The following is a summary of unrealized and realized gains and losses recognized in net income on equity securities during the three months ended December 31, 2018: (Dollars in thousands) Three months ended December 31, 2018 Net gains and (losses) recognized during the period on equity securities $ (2 ) Less: Net gains and (losses) recognized during the period on equity securities sold during the period - Unrealized gains and (losses) recognized during the reporting period on equity securities still held at the reporting date $ (2 ) The amortized cost and fair value of debt securities at December 31, 2018, 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 $ 1 $ 1 Due after one year through five years 34,074 33,768 Due after five years through ten years 100,036 97,464 Due after ten years 251,281 244,821 Total $ 385,392 $ 376,054 For the three months ended December 31, 2018, the Company realized gross gains of $43,000 and gross losses of $39,000 on proceeds from the sale of investment securities of $9.9 million. For the three months ended December 31, 2017, the Company realized no gross gains or gross losses on proceeds from the sale of investment securities. The following tables show 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, 2018 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 92 $ 25,419 $ (163 ) $ 94,531 $ (3,601 ) $ 119,950 $ (3,764 ) Freddie Mac 69 246 — 83,010 (2,737 ) 83,256 (2,737 ) Governmental National Mortgage Association 16 5,474 (51 ) 12,295 (547 ) 17,769 (598 ) Obligations of states and political subdivisions 22 995 (5 ) 24,867 (877 ) 25,862 (882 ) U.S. government agency securities 1 — — 1,918 (42 ) 1,918 (42 ) Corporate obligations 38 14,315 (247 ) 22,978 (1,050 ) 37,293 (1,297 ) Other debt securities 18 — — 16,142 (704 ) 16,142 (704 ) Total 256 $ 46,449 $ (466 ) $ 255,741 $ (9,558 ) $ 302,190 $ (10,024 ) September 30, 2018 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 100 $ 63,997 $ (1,442 ) $ 74,783 $ (4,385 ) $ 138,780 $ (5,827 ) Freddie Mac 74 28,902 (830 ) 65,812 (3,585 ) 94,714 (4,415 ) Governmental National Mortgage Association 19 9,776 (142 ) 11,550 (696 ) 21,326 (838 ) Obligations of states and political subdivisions 25 7,651 (105 ) 21,004 (1,287 ) 28,655 (1,392 ) U.S. government agency securities 3 5,177 (122 ) — — 5,177 (122 ) Corporate obligations 34 20,172 (363 ) 13,206 (897 ) 33,378 (1,260 ) Other debt securities 20 2,399 (38 ) 16,974 (884 ) 19,373 (922 ) Equity Securities (a) 1 20 (5 ) — 0 20 (5 ) Total 276 $ 138,094 $ (3,047 ) $ 203,329 $ (11,734 ) $ 341,423 $ (14,781 ) (a) As of October 1, 2018, the Company adopted ASU 2016-01 resulting in reclassification of equity securities from available for-sale investment securities to other assets. As September 30, 2018, the Company's investment in equity securities was comprised of common stock issued by an unrelated bank holding company. 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, U.S. government agency securities, corporate obligations, other debt securities and equity securities. The Company reviews its position quarterly and has asserted that at December 31, 2018, 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, 2018 | |
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, 2018 September 30, 2018 Real estate loans: Residential $ 600,564 $ 580,561 Construction 4,755 3,920 Commercial 434,427 416,573 Commercial 57,381 49,479 Obligations of states and political subdivisions 75,041 73,362 Home equity loans and lines of credit 43,271 43,962 Auto Loans 128,216 146,220 Other 2,870 2,682 1,346,525 1,316,759 Less allowance for loan losses 12,221 11,688 Net loans $ 1,334,304 $ 1,305,071 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. The following table presents additional information regarding loans acquired and accounted for in accordance with ASC 310-30 (in thousands): December 31, 2018 September 30, 2018 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 $ 1,653 $ 2,497 Carrying amount $ 1,526 $ 1,802 The following tables show the amount of loans in each category that were 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, 2018 Real estate loans: Residential $ 600,564 $ 4,961 $ — $ 595,603 Construction 4,755 — — 4,755 Commercial 434,427 2,110 1,526 430,791 Commercial 57,381 82 — 57,299 Obligations of states and political subdivisions 75,041 — — 75,041 Home equity loans and lines of credit 43,271 268 — 43,003 Auto loans 128,216 458 — 127,758 Other 2,870 17 — 2,853 Total $ 1,346,525 $ 7,896 $ 1,526 $ 1,337,103 Total Loans Individually Evaluated for Impairment Loans Acquired with Deteriorated Credit Quality Collectively Evaluated for Impairment September 30, 2018 Real estate loans: Residential $ 580,561 $ 5,317 $ — $ 575,244 Construction 3,920 — — 3,920 Commercial 416,573 5,892 1,801 408,880 Commercial 49,479 85 1 49,393 Obligations of states and political sub divisions 73,362 — — 73,362 Home equity loans and lines of credit 43,962 114 — 43,848 Auto loans 146,220 445 — 145,775 Other 2,682 17 — 2,665 Total $ 1,316,759 $ 11,870 $ 1,802 $ 1,303,087 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, 2018 With no specific allowance recorded: Real estate loans Residential $ 3,732 $ 5,305 $ — Construction — — — Commercial 2,110 2,824 — Commercial 82 348 — Obligations of states and political subdivisions — — — Home equity loans and lines of credit 227 247 — Auto loans 97 225 — Other 17 24 — Total 6,265 8,973 — With an allowance recorded: Real estate loans Residential 1,229 1,467 154 Construction — — — Commercial — — — Commercial — — — Obligations of states and political subdivisions — — — Home equity loans and lines of credit 41 49 8 Auto loans 361 372 164 Other — — — Total 1,631 1,888 326 Total: Real estate loans Residential 4,961 6,772 154 Construction — — — Commercial 2,110 2,824 — Commercial 82 348 — Obligations of states and political subdivisions — — — Home equity loans and lines of credit 268 296 8 Auto loans 458 597 164 Other 17 24 — Total Impaired Loans $ 7,896 $ 10,861 $ 326 Recorded Investment Unpaid Principal Balance Associated Allowance September 30, 2018 With no specific allowance recorded: Real Estate Loans Residential $ 4,449 $ 6,176 $ — Construction — — — Commercial 5,892 6,790 — Commercial 85 349 — Obligations of states and political subdivisions — — — Home equity loans and lines of credit 114 138 — Auto Loans 87 223 — Other 17 25 — Total 10,644 13,701 — With an allowance recorded: Real Estate Loans Residential 868 938 149 Construction — — — Commercial — — — Commercial — — — Obligations of states and political subdivisions — — — Home equity loans and lines of credit — — — Auto Loans 358 375 164 Other — — — Total 1,226 1,313 313 Total: Real Estate Loans Residential 5,317 7,114 149 Construction — — — Commercial 5,892 6,790 — Commercial 85 349 — Obligations of states and political subdivisions — — — Home equity loans and lines of credit 114 138 — Auto Loans 445 598 164 Other 17 25 — Total Impaired Loans $ 11,870 $ 15,014 $ 313 The following tables represent 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): For the Three Months Ended December 31, 2018 2017 2018 2017 Average Recorded Investment Average Recorded Investment Interest Income Recognized Interest Income Recognized With no specific allowance recorded: Real estate loans Residential $ 4,167 $ 4,429 $ 3 $ 10 Construction — — — — Commercial 4,484 7,006 45 72 Commercial 84 1,289 — 27 Obligations of states and political subdivisions — — — — Home equity loans and lines of credit 151 206 — — Auto loans 87 137 1 1 Other 17 10 — — Total 8,990 13,077 49 110 With an allowance recorded: Real estate loans Residential 815 1,527 — — Construction — — — — Commercial — 20 — — Commercial — — — — Obligations of states and political subdivisions — — — — Home equity loans and lines of credit 13 2 — — Auto loans 204 262 — — Other — — — — Total 1,032 1,811 — — Total: Real estate loans Residential 4,982 5,956 3 10 Construction — — — — Commercial 4,484 7,026 45 72 Commercial 84 1,289 — 27 Obligations of states and political subdivisions — — — — Home equity loans and lines of credit 164 208 — — Auto loans 291 399 1 1 Other 17 10 — — Total Impaired Loans $ 10,022 $ 14,888 $ 49 $ 110 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 that are 90 or more 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, 2018 and September 30, 2018 (in thousands): Pass Special Mention Substandard Doubtful or Loss Total December 31, 2018 Commercial real estate loans $ 414,214 $ 9,408 $ 10,805 $ — $ 434,427 Commercial 56,347 6 1,028 — 57,381 Obligations of states and political subdivisions 75,041 — — — 75,041 Total $ 545,602 $ 9,414 $ 11,833 $ — $ 566,849 Pass Special Mention Substandard Doubtful or Loss Total September 30, 2018 Commercial real estate loans $ 392,915 $ 8,960 $ 14,698 $ — $ 416,573 Commercial 48,137 8 1,334 — 49,479 Obligations of states and political subdivisions 73,362 — — — 73,362 Total $ 514,414 $ 8,968 $ 16,032 $ — $ 539,414 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, 2018 and September 30, 2018 (in thousands): Performing Non- performing Purchased Credit Impaired Total December 31, 2018 Real estate loans: Residential $ 594,896 $ 5,668 $ — $ 600,564 Construction 4,755 — — 4,755 Home equity loans and lines of credit 42,733 538 — 43,271 Auto loans 127,632 584 — 128,216 Other 2,853 17 — 2,870 Total $ 772,869 $ 6,807 $ — $ 779,676 Performing Non- performing Purchased Impaired Credit Total September 30, 2018 Real estate loans: Residential $ 575,244 $ 5,317 $ — $ 580,561 Construction 3,920 — — 3,920 Home equity loans and lines of credit 43,746 216 — 43,962 Auto loans 145,633 587 — 146,220 Other 2,664 18 — 2,682 Total $ 771,207 $ 6,138 $ — $ 777,345 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, 2018 and September 30, 2018 (in thousands): 31-60 Days 61-89 Days 90 + Days Past Due and Total Purchased Credit Impaired Total Current Past Due Past Due Accruing Nonaccrual Past Due Accruing Nonaccrual Loans December 31, 2018 Real estate loans: Residential $ 592,486 $ 1,485 $ 925 $ — $ 5,668 $ 8,078 $ — $ — $ 600,564 Construction 4,755 — — — — — — — 4,755 Commercial 431,140 — — — 1,977 1,977 253 1,057 434,427 Commercial 56,504 13 16 — 632 661 — 216 57,381 Obligations of states and political subdivisions 75,041 — — — — — — — 75,041 Home equity loans and lines of credit 42,621 65 47 — 538 650 — — 43,271 Auto loans 125,573 1,981 78 — 584 2,643 — — 128,216 Other 2,812 30 11 — 17 58 — — 2,870 Total $ 1,330,932 $ 3,574 $ 1,077 $ — $ 9,416 $ 14,067 $ 253 $ 1,273 $ 1,346,525 31-60 Days 61-89 Days 90 + Days Past Due and Total Purchased Credit Impaired Total Current Past Due Past Due Accruing Nonaccrual Past Due Accruing Nonaccrual Loans September 30, 2018 Real estate loans: Residential $ 572,236 $ 2,088 $ 920 $ — $ 5,317 $ 8,325 $ — $ — $ 580,561 Construction 3,920 — — — — — — — 3,920 Commercial 412,636 185 — — 1,951 2,136 255 1,546 416,573 Commercial 48,567 25 11 — 875 911 — 1 49,479 Obligations of states and political subdivisions 73,362 — — — — — — — 73,362 Home equity loans and lines of credit 43,716 30 — — 216 246 — — 43,962 Auto loans 144,140 1,473 20 — 587 2,080 — — 146,220 Other 2,647 17 — — 18 35 — — 2,682 Total $ 1,301,224 $ 3,818 $ 951 $ — $ 8,964 $ 13,733 $ 255 $ 1,547 $ 1,316,759 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, 2018 was 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 allowance for loan losses (“ALL”). When information confirms all or part of specific loans to be uncollectible, these amounts are promptly charged off against the ALL. The following table summarizes changes in the primary segments of the ALL for the three months period ended December 31, 2018 and 2017 (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, 2018 $ 3,605 $ 35 $ 3,458 $ 1,462 $ 323 $ 296 $ 1,859 $ 23 $ 627 $ 11,688 Charge-offs (142 ) — — (22 ) — — (368 ) — — (532 ) Recoveries 6 — — — — 1 181 1 — 189 Provision 276 8 38 264 (28 ) 1 22 2 293 876 ALL balance at December 31, 2018 $ 3,745 $ 43 $ 3,496 $ 1,704 $ 295 $ 298 $ 1,694 $ 26 $ 920 $ 12,221 ALL balance at September 30, 2017 $ 3,878 $ 23 $ 1,758 $ 987 $ 248 $ 470 $ 1,836 $ 21 $ 144 $ 9,365 Charge-offs (43 ) — (1 ) (133 ) — - (536 ) (6 ) — (719 ) Recoveries 3 — 2 10 — 1 170 1 — 187 Provision (69 ) 10 560 190 (35 ) (22 ) 492 5 (131 ) 1,000 ALL balance at December 31, 2017 $ 3,769 $ 33 $ 2,319 $ 1,054 $ 213 $ 449 $ 1,962 $ 21 $ 13 $ 9,833 Acquired loans are recorded at fair value on their purchase date without a carryover of the related allowance for loan losses. During the three months ended December 31, 2018 the Company recorded provision expense for the residential real estate, construction loans, commercial real estate, commercial, home equity loans and lines of credit, auto and other loan segments, due to either increased loan balances, changes in the loan mix within the pool, and/or charge-off activity in those segments. Credit provisions were recorded for loan loss for the obligations of states and political subdivisions segment. During the three months ended December 31, 2017 the Company recorded provision expense for the construction loans, commercial real estate, commercial, auto and other loan segments, due to either increased loan balances, changes in the loan mix within the pool, and/or charge-off activity in those segments. Credit provisions were recorded for loan loss for the residential real estate, obligations of states and political subdivisions and home equity loans and lines of credit segments. 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, 2018 and September 30, 2018 (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 $ 154 $ — $ — $ — $ — $ 8 $ 164 $ — $ — $ 326 Collectively evaluated for impairment 3,591 43 3,496 1,704 295 290 1,530 26 920 11,895 ALL balance at December 31, 2018 $ 3,745 $ 43 $ 3,496 $ 1,704 $ 295 $ 298 $ 1,694 $ 26 $ 920 $ 12,221 Individually evaluated for impairment $ 149 $ — $ — $ — $ — $ — $ 164 $ — $ — $ 313 Collectively evaluated for impairment 3,456 35 3,458 1,462 323 296 1,695 23 627 11,375 ALL balance at September 30, 2018 $ 3,605 $ 35 $ 3,458 $ 1,462 $ 323 $ 296 $ 1,859 $ 23 $ 627 $ 11,688 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. 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, 2018 and 2017 (dollars in thousands): For the Three Months Ended December 31, 2018 Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Troubled Debt Restructurings Real estate loans: Residential 2 $ 95 $ 95 Construction — — — Commercial — — — Commercial — — — Obligations of states and political subdivisions — — — Home equity loans and lines of credit 2 159 159 Auto loans 1 21 21 Other — — — Total 5 $ 275 $ 275 For the Three Months Ended December 31, 2017 Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Troubled Debt Restructurings Real estate loans: Residential 2 $ 243 $ 240 Construction — — — Commercial — — — Commercial — — — Obligations of states and political subdivisions — — — Home equity loans and lines of credit — — — Auto loans — — — Other — — — Total 2 $ 243 $ 240 Of the five new troubled debt restructurings granted for the three months ended December 31, 2018, one loan totaling $14,000 was granted terms concessions, one loan totaling $81,000 was granted an interest rate concession, and three loans totaling $180,000 were granted term and rate concessions. The two new troubled debt restructurings granted for the three months ended December 31, 2017, totaled $240,000 and were granted interest rate and principal concessions. For the three months ended December 31, 2018, no loans defaulted on a restructuring agreement within one year of modification. For the three months ended December 31, 2017, two loans totaling $95,000 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, 2018, included within the foreclosed assets is $795,000 of consumer residential mortgages that were foreclosed on or received via a deed in lieu of foreclosure transaction prior to the period end. As of December 31, 2018, the Company has initiated formal foreclosure proceedings on $2.5 million of consumer residential mortgages which have not yet been transferred into foreclosed assets. |
Deposits
Deposits | 3 Months Ended |
Dec. 31, 2018 | |
Banking And Thrift [Abstract] | |
Deposits | 7. Deposits Deposits consist of the following major classifications (in thousands): December 31, 2018 September 30, 2018 Non-interest bearing demand accounts $ 162,129 $ 158,340 Interest bearing demand accounts 198,320 221,327 Money market accounts 317,828 296,078 Savings and club accounts 135,837 135,862 Certificates of deposit 493,803 525,248 Total $ 1,307,917 $ 1,336,855 |
Net Periodic Benefit Cost-Defin
Net Periodic Benefit Cost-Defined Benefit Plan | 3 Months Ended |
Dec. 31, 2018 | |
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, 2018 included in the Company’s Annual Report on Form 10-K. The following table comprises the components of net periodic benefit cost for the three month period ended December 31, 2018 and 2017 (in thousands): For the Three Months Ended December 31, 2018 2017 Service Cost $ — $ — Interest Cost 174 174 Expected return on plan assets (293 ) (298 ) Amortization of unrecognized loss — — Net periodic benefit cost $ (119 ) $ (124 ) 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 service for benefit accrual purposes will be credited 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. |
Equity Incentive Plan
Equity Incentive Plan | 3 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | |
Equity Incentive Plan | 9 . Equity Incentive Plan The Company previously 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 that were available under the Plan, 1,698,090 were available to be issued in connection with the exercise of stock options and 679,236 were available to 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 granted under the plan were granted at no less than the fair value of the Company’s common stock on the date of the grant. As of the effective date of the 2016 Equity Incentive Plan (detailed below), no further grants will be made under the Plan and forfeitures of outstanding awards under the Plan will be added to the shares available under the 2016 Equity Incentive Plan. 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, ISOs and NSOs. 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. Restricted stock shares outstanding at December 31, 2018 vest over periods ranging from 18 to 45 months. 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 expenses the fair value of all share based compensation grants over the requisite service period. For the three months ended December 31, 2018 and 2017, the Company recorded $252,000 and $80,000 of share-based compensation expense, respectively, comprised of restricted stock expense. Expected future compensation expense relating to the restricted shares outstanding at December 31, 2018 is $840,000 over the remaining vesting period of 3.75 years. The following is a summary of the status of the Company’s restricted stock as of December 31, 2018, and changes therein during the three month period then ended: Number of Restricted Weighted- average Grant Date Fair Value Nonvested at September 30, 2018 35,072 $ 15.37 Granted 37,236 16.23 Vested (625 ) 15.00 Forfeited (3,937 ) 15.87 Nonvested at December 31, 2018 67,746 $ 15.94 |
Fair Value
Fair Value | 3 Months Ended |
Dec. 31, 2018 | |
Fair Value Disclosures [Abstract] | |
Fair Value | 10. Fair Value 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. Assets and Liabilities Required to be Measured and Reported at Fair Value on a Recurring Basis The following tables provide the fair value for assets required to be measured and reported at fair value on a recurring basis on the Consolidated Balance Sheet as of December 31, 2018 and September 30, 2018 by level within the fair value hierarchy. Recurring Fair Value Measurements at Reporting Date December 31, 2018 Level I Level II Level III Total Investment securities available for sale: Mortgage backed securities $ — $ 267,993 $ — $ 267,993 Obligations of states and political subdivisions — 32,924 — 32,924 U.S. government agencies — 9,789 — 9,789 Corporate obligations — 39,202 7,642 46,844 Other debt securities — 18,504 — 18,504 Total Debt Securities $ — $ 368,412 $ 7,642 $ 376,054 Equity securities- financial services $ 18 $ — $ — $ 18 Derivatives and hedging activities: — 1,511 — 1,511 September 30, 2018 Level I Level II Level III Total Investment securities available for sale: Mortgage backed securities $ — $ 258,123 $ — $ 258,123 Obligations of states and political subdivisions — 40,949 — 40,949 U.S. government agencies — 5,558 — 5,558 Corporate obligations — 39,677 7,738 47,415 Other debt securities — 19,373 — 19,373 Equity securities-financial services 20 — — 20 Total Securities $ 20 $ 363,680 $ 7,738 $ 371,438 Derivatives and hedging activities: — 2,452 — 2,452 The following tables present a summary of changes in the fair value of the Company’s Level III investments for the three month periods ended December 31, 2018 and 2017 (in thousands). Fair Value Measurement Using Significant Unobservable Inputs (Level III) Three Months Ended December 31, 2018 December 31, 2017 Beginning balance $ 7,738 $ 7,224 Purchases, sales, issuances, settlements, net — 500 Total unrealized gain (loss): Included in other comprehensive (loss) income (96 ) 102 Transfers in and/or out of Level III — — $ 7,642 $ 7,826 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 comparable. 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. Assets and Liabilities Required to be Measured and Reported on a Non-Recurring Basis The following tables provide the fair value for assets required to be measured and reported at fair value on a non recurring basis on the Consolidated Balance Sheet as of December 31, 2018 and September 30, 2018 by level within the fair value hierarchy: Non-Recurring Fair Value Measurements at Reporting Date (in thousands) December 31, 2018 Level I Level II Level III Total Foreclosed real estate $ — $ — $ 876 $ 876 Impaired loans — — 7,570 7,570 September 30, 2018 Level I Level II Level III Total Foreclosed real estate $ — $ — $ 1,141 $ 1,141 Impaired loans — — 11,557 11,557 The following tables present 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, 2018 Impaired loans $ 7,570 Appraisal of collateral (1) Appraisal adjustments (2) 0% to 35% (21.0%) Foreclosed real estate owned 876 Appraisal of collateral (1), (3) Appraisal adjustments (2) 20% to 46% (26.1%) Quantitative Information about Level 3 Fair Value Measurements (in thousands) Fair Value Estimate Valuation Techniques Unobservable Input Range September 30, 2018 Impaired loans $ 11,557 Appraisal of collateral (1) Appraisal adjustments (2) 0% to 35% (25.3%) Foreclosed real estate owned 1,141 Appraisal of collateral (1), (3) Appraisal adjustments (2) 20% to 46% (22.1%) (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. 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, 2018, 137 impaired loans with a carrying value of $7.9 million were reduced by specific valuation allowance totaling $326,000 resulting in a net fair value of $7.6 million based on Level 3 inputs. At September 30, 2018, 133 impaired loans with a carrying value of $11.9 million were reduced by a specific valuation totaling $313,000 resulting in a net fair value of $11.6 million based on Level 3 inputs. Assets and Liabilities not Required to be Measured and Reported at Fair Value The methods and assumptions used by the Company in estimating fair values of financial instruments at December 31, 2018 is in accordance with ASC Topic 825, Financial Instruments December 31, 2018 Carrying Level I Level II Level III Total Fair Value Financial assets: Cash and cash equivalents $ 39,650 $ 39,650 $ — $ — $ 39,650 Certificates of deposit 500 — — 500 500 Loans receivable, net 1,334,304 — — 1,297,473 1,297,473 Accrued interest receivable 6,261 6,261 — — 6,261 Regulatory stock 15,121 15,121 — — 15,121 Mortgage servicing rights 200 — — 336 336 Bank owned life insurance 38,874 38,874 — — 38,874 Financial liabilities: Deposits $ 1,307,917 $ 814,114 $ — $ 490,194 $ 1,304,308 Short-term borrowings 239,824 239,824 — — 239,824 Other borrowings 112,373 — — 111,904 111,904 Advances by borrowers for taxes and insurance 8,435 8,435 — — 8,435 Accrued interest payable 1,488 1,488 — — 1,488 September 30, 2018 Carrying Level I Level II Level III Total Fair Value Financial assets: Cash and cash equivalents $ 43,539 $ 43,539 $ — $ — $ 43,539 Certificates of deposit 500 — — 505 505 Loans receivable, net 1,305,071 — — 1,269,127 1,269,127 Accrued interest receivable 6,640 6,640 — — 6,640 Regulatory stock 12,973 12,973 — — 12,973 Mortgage servicing rights 206 — — 340 340 Bank owned life insurance 38,630 38,630 — — 38,630 Financial liabilities: Deposits $ 1,336,855 $ 811,607 $ — $ 520,861 $ 1,332,468 Short-term borrowings 179,773 179,773 — — 179,773 Other borrowings 118,723 — — 117,920 117,920 Advances by borrowers for taxes and insurance 6,826 6,826 — — 6,826 Accrued interest payable 1,369 1,369 — — 1,369 |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Loss | 3 Months Ended |
Dec. 31, 2018 | |
Equity [Abstract] | |
Accumulated Other Comprehensive Loss | 11. Accumulated Other Comprehensive Loss The activity in accumulated other comprehensive loss for the three month periods ended December 31, 2018 and 2017 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, 2018 $ (477 ) $ (11,369 ) $ 1,936 (9,910 ) Other comprehensive income (loss) before reclassifications — 3,991 (573 ) 3,418 Amounts reclassified from accumulated other comprehensive loss — (3 ) (171 ) (174 ) Change in accounting principal for adoption of ASU 2016-01 — 4 — 4 Period change — 3,992 (744 ) 3,248 Balance at December 31, 2018 $ (477 ) $ (7,377 ) $ 1,192 $ (6,662 ) Balance at September 30, 2017 $ (628 ) $ (927 ) $ 801 $ (754 ) Other comprehensive (loss) income before reclassifications — (1,288 ) 301 (987 ) Amounts reclassified from accumulated other comprehensive loss, net of tax — — (15 ) (15 ) Period change — (1,288 ) 286 (1,002 ) Balance at December 31, 2017 $ (628 ) $ (2,215 ) $ 1,087 $ (1,756 ) The following table presents significant amounts reclassified out of each component of accumulated other comprehensive loss for the three month periods ended December 31, 2018 and 2017 (in thousands): Amount Reclassified from Accumulated Other Comprehensive Loss Details About Accumulated Other Comprehensive Loss Components Accumulated Other Comprehensive Loss for the Three Months Ended December 31, 2018 Affected Line Item in the Consolidated Statement of Income 2018 2017 Securities available for sale Net securities gains reclassified into earnings $ 4 $ — Gain on sale of investments, net Related income tax expense (1 ) — Income taxes Net effect on accumulated other comprehensive loss for the period 3 — Derivatives and hedging activities: Interest expense, effective portion 217 23 Interest expense Related income tax expense (46 ) (8 ) Income taxes Net effect on accumulated other comprehensive loss for the period 171 15 Total reclassification for the period $ 174 $ 15 |
Derivative and Hedging Activiti
Derivative and Hedging Activities | 3 Months Ended |
Dec. 31, 2018 | |
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, 2018 and September 30, 2017 (in thousands). Fair Values of Derivative Instruments Fair Values of Derivative Instruments Asset Derivatives Liability Derivatives As of December 31, 2018 As of September 30, 2018 As of December 31, 2018 As of Septenber 30, 2018 Notional Amount Balance Sheet Location Fair Value Balance Sheet Location Fair Value Balance Sheet Location Fair Value Balance Sheet Location Fair Value Derivatives designated as hedging instruments Derivatives designated as hedging instruments Interest Rate Products $ 100,000 Other Assets $ 1,832 Other Assets $ 2,595 Interest Rate Products Other Liabilities $ 145 Other Liabilities $ - Total derivatives designated as hedging instruments $ 1,832 $ 2,595 Total derivatives designated as hedging instruments $ 145 $ - 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, 2018, the Company had four interest rate swaps with a notional principal amount of $100.0 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 periods ended December 31, 2018 and September 30, 2018. Amounts reported in accumulated other comprehensive loss related to derivatives that 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, 2018 and 2017, the Company had $217,000 and $23,000 respectively, of gains reclassified to interest expense. During the next twelve months, the Company estimates that $967,000 will be reclassified as a decrease in interest expense. The tables below presents the effect of the Company’s cash flow hedge accounting on Accumulated Other Comprehensive Income for the three month period ended December 31, 2018 and 2017 (in thousands). The Effect of Fair Value and Cash Flow Hedge Accounting on Accumulated Other Comprehensive Income Derivatives in Hedging Relationships Amount of (Loss) Gain Recognized in OCI on Derivative Amount of Gain Reclassified from Accumulated OCI into Income Derivatives in Cash Flow Hedging Relationships 2018 2017 Location of Gain Reclassified from Accumulated OCI into Income 2018 2017 Interest Rate Products $ (941 ) $ 457 Interest expense $ 217 $ 23 Total $ (941 ) $ 457 $ 217 $ 23 The table below presents the effect of the Company’s derivative financial instruments on Consolidated Statement of Operations for the three months ended December 31, 2018 and 2017. Location and Amount of Gain Recognized in Income on Fair Value and Cash Flow Hedging Relationships Three months ended December 31, 2018 Three months ended December 31, 2017 Interest Income (Expense) Other Income (Expense) Interest Income (Expense) Other Income (Expense) Total amounts of income and expense line items presented in the statement of financial performance in which the effects of fair value or cash flow hedges are recorded $ 217 $ - $ 23 $ - The effects of fair value and cash flow hedging: Gain in cash flow hedging relationships Interest contracts Amount of gain reclassified from accumulated other comprehensive income into income $ 217 $ - $ 23 $ - The table below presents a gross presentation, the effects of offsetting, and a net presentation of the Company’s derivatives for the periods ended December 31, 2018 and 2017. The net amounts of derivative assets or liabilities can be reconciled on the tabular disclosure of fair value. The tabular disclosure of fair value provides the location the derivative assets and liabilities are presented on the Consolidated Balance Sheet. There were no derivative liabilities for the periods ended December 31, 2018 and September 30, 2018. Offsetting of Derivative Assets as of December 31, 2018 Gross Amounts Not Offset in the Statement of Financial Position Gross Amounts of Recognized Assets Gross Amounts Offset in the Statement of Financial Position Net Amounts of Assets presented in the Statement of Financial Position Financial Instruments Cash Collateral Received Net Amount Derivatives $ 1,832 $ - $ 1,832 $ (145 ) $ 1,687 $ - Offsetting of Derivative Liabilities as of December 31, 2018 Gross Amounts Not Offset in the Statement of Financial Position Gross Amounts of Recognized Assets Gross Amounts Offset in the Statement of Financial Position Net Amounts of Liabilities presented in the Statement of Financial Position Financial Instruments Cash Collateral Received Net Amount Derivatives $ 145 $ - $ 145 $ (145 ) $ - $ - Offsetting of Derivative Assets as of September 30, 2018 Gross Amounts Not Offset in the Statement of Financial Position Gross Amounts of Recognized Assets Gross Amounts Offset in the Statement of Financial Position Net Amounts of Assets presented in the Statement of Financial Position Financial Instruments Cash Collateral Received Net Amount Derivatives $ 2,595 $ - $ 2,595 $ - $ 2,540 $ 55 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 / adequately 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, 2018 and September 30, 2018, 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, 2018, it could have been required to settle its obligations under the agreements at the termination value. |
Contingent Liabilities
Contingent Liabilities | 3 Months Ended |
Dec. 31, 2018 | |
Commitments And Contingencies Disclosure [Abstract] | |
Contingent Liabilities | 13. Contingent Liabilities Legal Proceedings The Company and its subsidiaries are subject to various legal actions arising in the normal course of business. In the opinion of Management, the resolution of these legal actions is not expected to have a material adverse effect on the Company’s results of operations. The Bank was named as a defendant in an action commenced on December 8, 2016 by one plaintiff who will also seek to pursue this action as a class action on behalf of the entire class of people similarly situated. The plaintiff alleges that a bank previously acquired by ESSA Bancorp in the process of making loans, received unearned fees and kickbacks in violation of the Real Estate Settlement Procedures Act. In an order dated January 29, 2018, the court granted the Bank’s motion to dismiss the case. The plaintiff appealed the court’s ruling. The plaintiff submitted her brief in support of her appeal in May 2018, and the Bank submitted its opposition brief in July 2018. The appellate court heard oral arguments in December 2018. To the extent that pending or threatened litigation could result in exposure to the Bank, the amount of such exposure is not currently estimable. |
Revenue Recognition
Revenue Recognition | 3 Months Ended |
Dec. 31, 2018 | |
Revenue From Contract With Customer [Abstract] | |
Revenue Recognition | 14. Revenue Recognition Effective October 1, 2018, the Company adopted ASU 2014-09 Revenue from Contracts with Customers- Topic 606 Management determined that since the guidance does not apply to revenue associated with financial instruments, including loans and securities that are accounted for under other GAAP, the new guidance did not have a material impact on revenue most closely associated with financial instruments including interest income and expense along with non interest revenue resulting from non interest security gains, loan servicing, commitment fees and fees from financial guarantees. As a result, no changes were made during the period related to these sources of revenue which cumulatively comprise 90.3% of the total revenue of the Company. The main types of non interest income within the scope of the standard are: Trust and Investment Fees Trust and asset management income is primarily comprised of fees earned from the management and administration of trusts and other customer assets. The Company’s performance obligation is generally satisfied over time and the resulting fees are recognized monthly, based upon the month-end market value of the assets under management and the applicable fee rate. Payment is generally received a few days after month end through a direct charge to customer’s accounts. The Company does not earn performance-based incentives. Optional services such as real estate sales and tax return preparation services are also available to existing trust and asset management customers. The Company’s performance obligation for these transactional-based services is generally satisfied, and related revenue recognized, at a point in time (i.e. as incurred). Payment is received shortly after services are rendered. Service Charges on Deposit Accounts Service charges on deposit accounts consist of account analysis fees (i.e. net fees earned on analyzed business and public checking accounts), monthly service fees, check orders, and other deposit account related fees. The Company’s performance obligation for account analysis fees and monthly service fees is generally satisfied, and the related revenue recognized, over the period in which the service is provided. Check orders and other deposit account related fees are largely transactional based, and therefore, the Company’s performance obligation is satisfied, and related revenue recognized, at a point in time. Payment for service charges on deposit accounts is primarily received immediately or in the following month through a direct charge to customers’ accounts. Fees, Exchange, and Other Service Charges Fees, interchange, and other service charges are primarily comprised of debit card income, ATM fees, cash management income, and other services charges. Debit card income is primarily comprised of interchange fees earned whenever the Company’s debit cards are processed through card payment networks such as Mastercard. ATM fees are primarily generated when a Company cardholder uses a non-Company ATM or a non-Company cardholder uses a company ATM. Other service charges include revenue from processing wire transfers, bill pay service, cashier’s checks, and other services. The Company’s performance obligation for fees, exchange, and other service charges are largely satisfied, and related revenue recognized when the services are rendered or upon completion., Payment is typically received immediately or in the following month. Insurance Commissions Insurance income primarily consists of commissions received on product sales. The Company acts as an intermediary between the Company’s customer and the insurance carrier. The Company’s performance obligation is generally satisfied upon the issuance of the policy. Shortly after the policy is issued, the carrier remits the commission payment to the Company, and the Company recognizes the revenue. |
Accounting Pronouncements (Poli
Accounting Pronouncements (Policies) | 3 Months Ended |
Dec. 31, 2018 | |
Accounting Changes And Error Corrections [Abstract] | |
Adoption of New Standards and Recent Accounting Pronouncements | Adoption of New Standards In May 2014, the FASB issued ASU No. 2014-09, “Revenue from contracts with customers.” In January 2016, the FASB issued ASU No. 2016-01, “Recognition and Measurement of Financial Assets and Financial Liabilities.” Fair Value Investment Securities Recent Accounting Pronouncements In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments In January 2017, the FASB issued ASU 2017-04, Simplifying the Test for Goodwill Impairment The Company is currently evaluating the impact the adoption of the standard will have on the Company’s financial position or results of operations In March 2017, the FASB issued ASU 2017-08, Receivables – Nonrefundable Fees and Other Costs (Subtopic 310-20). In July 2017, the FASB issued ASU 2017-11, Earnings Per Share (Topic 260), Distinguishing Liabilities from Equity (Topic 480), and Derivative and Hedging (Topic 815) Debt—Debt with Conversion and Other Options In January 2018, the FASB issued ASU 2018-01, Leases (Topic 842) In June 2018, the FASB issued ASU 2018-07, Compensation – Stock Compensation (Topic 718) In July 2018, the FASB issued ASU 2018-09, Codification Improvements, represents changes to clarify, correct errors in, or make minor improvements to the Codification. The amendments make the Codification easier to understand and easier to apply by eliminating inconsistencies and providing clarifications. The transition and effective date guidance is based on the facts and circumstances of each amendment. Some of the amendments do not require transition guidance and will be effective upon issuance of this ASU. However, many of the amendments in this ASU do have transition guidance and effective dates for annual periods beginning after December 15, 2018, for public business entities. This update is not expected to have a significant impact on the Company’s financial statements. In July 2018, the FASB issued ASU 2018-10, Codification Improvements to Topic 842, Leases In July 2018, the FASB issued ASU 2018-11, Leases (Topic 842): Targeted Improvements Leases Revenue from Contracts with Customers In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework – Changes the Disclosure Requirements for Fair Value Measurements In August 2018, the FASB issued ASU 2018-14, Compensation – Retirement Benefits (Topic 715-20). In October 2018, the FASB issued ASU 2018-16 , Derivatives and Hedging (Topic 815) In November 2018, the FASB issued ASU 2018-19, Codification Improvements to Topic 326, Financial Instruments - Credit Losses, Leases In December 2018, the FASB issued ASU 2018-20, Leases (Topic 842), Leases |
Earnings per Share (Tables)
Earnings per Share (Tables) | 3 Months Ended |
Dec. 31, 2018 | |
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 June 30, 2018 and 2017. Three Months Ended December 31, December 31, 2018 2017 Weighted-average common shares outstanding 18,133,095 18,133,095 Average treasury stock shares (6,316,361 ) (6,521,843 ) Average unearned ESOP shares (809,051 ) (854,325 ) Average unearned non-vested shares (56,327 ) (39,789 ) Weighted average common shares and common stock equivalents used to calculate basic earnings per share 10,951,356 10,717,138 Additional common stock equivalents (non-vested stock) used to calculate diluted earnings per share — — Additional common stock equivalents (stock options) used to calculate diluted earnings per share — — Weighted average common shares and common stock equivalents used to calculate diluted earnings per share 10,951,356 10,717,138 |
Investment Securities (Tables)
Investment Securities (Tables) | 3 Months Ended |
Dec. 31, 2018 | |
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, 2018 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Available for Sale Fannie Mae $ 157,353 $ 238 $ (3,764 ) $ 153,827 Freddie Mac 96,057 42 (2,737 ) 93,362 Governmental National Mortgage Association Securities 21,397 5 (598 ) 20,804 Total mortgage-backed securities 274,807 285 (7,099 ) 267,993 Obligations of states and political subdivisions 33,599 207 (882 ) 32,924 U.S. government agency securities 9,813 18 (42 ) 9,789 Corporate obligations 47,987 154 (1,297 ) 46,844 Other debt securities 19,186 22 (704 ) 18,504 Total debt securities $ 385,392 $ 686 $ (10,024 ) $ 376,054 September 30, 2018 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Available for Sale Fannie Mae $ 147,433 $ 17 $ (5,827 ) $ 141,623 Freddie Mac 99,587 2 (4,415 ) 95,174 Governmental National Mortgage Association 22,164 — (838 ) 21,326 Total mortgage-backed securities 269,184 19 (11,080 ) 258,123 Obligations of states and political subdivisions 42,090 251 (1,392 ) 40,949 U.S. government agency securities 5,678 2 (122 ) 5,558 Corporate obligations 48,559 116 (1,260 ) 47,415 Other debt securities 20,295 — (922 ) 19,373 Total debt securities 385,806 388 (14,776 ) 371,418 Equity securities - financial services (a) 25 — (5 ) 20 Total $ 385,831 $ 388 $ (14,781 ) $ 371,438 (a) As of October 1, 2018, the Company adopted ASU 2016-01 resulting in reclassification of equity securities from available for-sale investment securities to other assets. At September 30, 2018, the Company's investment in equity securities was comprised of common stock issued by an unrelated bank holding company. |
Summary of Unrealized and Realized Gains Losses Recognized in Net Income on Equity Securities | (Dollars in thousands) Three months ended December 31, 2018 Net gains and (losses) recognized during the period on equity securities $ (2 ) Less: Net gains and (losses) recognized during the period on equity securities sold during the period - Unrealized gains and (losses) recognized during the reporting period on equity securities still held at the reporting date $ (2 ) |
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, 2018, 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 $ 1 $ 1 Due after one year through five years 34,074 33,768 Due after five years through ten years 100,036 97,464 Due after ten years 251,281 244,821 Total $ 385,392 $ 376,054 |
Schedule of Gross Unrealized Losses and Fair Value | The following tables show 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, 2018 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 92 $ 25,419 $ (163 ) $ 94,531 $ (3,601 ) $ 119,950 $ (3,764 ) Freddie Mac 69 246 — 83,010 (2,737 ) 83,256 (2,737 ) Governmental National Mortgage Association 16 5,474 (51 ) 12,295 (547 ) 17,769 (598 ) Obligations of states and political subdivisions 22 995 (5 ) 24,867 (877 ) 25,862 (882 ) U.S. government agency securities 1 — — 1,918 (42 ) 1,918 (42 ) Corporate obligations 38 14,315 (247 ) 22,978 (1,050 ) 37,293 (1,297 ) Other debt securities 18 — — 16,142 (704 ) 16,142 (704 ) Total 256 $ 46,449 $ (466 ) $ 255,741 $ (9,558 ) $ 302,190 $ (10,024 ) September 30, 2018 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 100 $ 63,997 $ (1,442 ) $ 74,783 $ (4,385 ) $ 138,780 $ (5,827 ) Freddie Mac 74 28,902 (830 ) 65,812 (3,585 ) 94,714 (4,415 ) Governmental National Mortgage Association 19 9,776 (142 ) 11,550 (696 ) 21,326 (838 ) Obligations of states and political subdivisions 25 7,651 (105 ) 21,004 (1,287 ) 28,655 (1,392 ) U.S. government agency securities 3 5,177 (122 ) — — 5,177 (122 ) Corporate obligations 34 20,172 (363 ) 13,206 (897 ) 33,378 (1,260 ) Other debt securities 20 2,399 (38 ) 16,974 (884 ) 19,373 (922 ) Equity Securities (a) 1 20 (5 ) — 0 20 (5 ) Total 276 $ 138,094 $ (3,047 ) $ 203,329 $ (11,734 ) $ 341,423 $ (14,781 ) (a) As of October 1, 2018, the Company adopted ASU 2016-01 resulting in reclassification of equity securities from available for-sale investment securities to other assets. As September 30, 2018, the Company's investment in equity securities was comprised of common stock issued by an unrelated bank holding company. |
Loans Receivable, Net and All_2
Loans Receivable, Net and Allowance for Loan Losses (Tables) | 3 Months Ended |
Dec. 31, 2018 | |
Receivables [Abstract] | |
Summary of Loans Receivable | Loans receivable consist of the following (in thousands): December 31, 2018 September 30, 2018 Real estate loans: Residential $ 600,564 $ 580,561 Construction 4,755 3,920 Commercial 434,427 416,573 Commercial 57,381 49,479 Obligations of states and political subdivisions 75,041 73,362 Home equity loans and lines of credit 43,271 43,962 Auto Loans 128,216 146,220 Other 2,870 2,682 1,346,525 1,316,759 Less allowance for loan losses 12,221 11,688 Net loans $ 1,334,304 $ 1,305,071 |
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, 2018 September 30, 2018 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 $ 1,653 $ 2,497 Carrying amount $ 1,526 $ 1,802 |
Schedule of Loans Evaluated for Impairment | The following tables show the amount of loans in each category that were 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, 2018 Real estate loans: Residential $ 600,564 $ 4,961 $ — $ 595,603 Construction 4,755 — — 4,755 Commercial 434,427 2,110 1,526 430,791 Commercial 57,381 82 — 57,299 Obligations of states and political subdivisions 75,041 — — 75,041 Home equity loans and lines of credit 43,271 268 — 43,003 Auto loans 128,216 458 — 127,758 Other 2,870 17 — 2,853 Total $ 1,346,525 $ 7,896 $ 1,526 $ 1,337,103 Total Loans Individually Evaluated for Impairment Loans Acquired with Deteriorated Credit Quality Collectively Evaluated for Impairment September 30, 2018 Real estate loans: Residential $ 580,561 $ 5,317 $ — $ 575,244 Construction 3,920 — — 3,920 Commercial 416,573 5,892 1,801 408,880 Commercial 49,479 85 1 49,393 Obligations of states and political sub divisions 73,362 — — 73,362 Home equity loans and lines of credit 43,962 114 — 43,848 Auto loans 146,220 445 — 145,775 Other 2,682 17 — 2,665 Total $ 1,316,759 $ 11,870 $ 1,802 $ 1,303,087 |
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, 2018 With no specific allowance recorded: Real estate loans Residential $ 3,732 $ 5,305 $ — Construction — — — Commercial 2,110 2,824 — Commercial 82 348 — Obligations of states and political subdivisions — — — Home equity loans and lines of credit 227 247 — Auto loans 97 225 — Other 17 24 — Total 6,265 8,973 — With an allowance recorded: Real estate loans Residential 1,229 1,467 154 Construction — — — Commercial — — — Commercial — — — Obligations of states and political subdivisions — — — Home equity loans and lines of credit 41 49 8 Auto loans 361 372 164 Other — — — Total 1,631 1,888 326 Total: Real estate loans Residential 4,961 6,772 154 Construction — — — Commercial 2,110 2,824 — Commercial 82 348 — Obligations of states and political subdivisions — — — Home equity loans and lines of credit 268 296 8 Auto loans 458 597 164 Other 17 24 — Total Impaired Loans $ 7,896 $ 10,861 $ 326 Recorded Investment Unpaid Principal Balance Associated Allowance September 30, 2018 With no specific allowance recorded: Real Estate Loans Residential $ 4,449 $ 6,176 $ — Construction — — — Commercial 5,892 6,790 — Commercial 85 349 — Obligations of states and political subdivisions — — — Home equity loans and lines of credit 114 138 — Auto Loans 87 223 — Other 17 25 — Total 10,644 13,701 — With an allowance recorded: Real Estate Loans Residential 868 938 149 Construction — — — Commercial — — — Commercial — — — Obligations of states and political subdivisions — — — Home equity loans and lines of credit — — — Auto Loans 358 375 164 Other — — — Total 1,226 1,313 313 Total: Real Estate Loans Residential 5,317 7,114 149 Construction — — — Commercial 5,892 6,790 — Commercial 85 349 — Obligations of states and political subdivisions — — — Home equity loans and lines of credit 114 138 — Auto Loans 445 598 164 Other 17 25 — Total Impaired Loans $ 11,870 $ 15,014 $ 313 The following tables represent 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): For the Three Months Ended December 31, 2018 2017 2018 2017 Average Recorded Investment Average Recorded Investment Interest Income Recognized Interest Income Recognized With no specific allowance recorded: Real estate loans Residential $ 4,167 $ 4,429 $ 3 $ 10 Construction — — — — Commercial 4,484 7,006 45 72 Commercial 84 1,289 — 27 Obligations of states and political subdivisions — — — — Home equity loans and lines of credit 151 206 — — Auto loans 87 137 1 1 Other 17 10 — — Total 8,990 13,077 49 110 With an allowance recorded: Real estate loans Residential 815 1,527 — — Construction — — — — Commercial — 20 — — Commercial — — — — Obligations of states and political subdivisions — — — — Home equity loans and lines of credit 13 2 — — Auto loans 204 262 — — Other — — — — Total 1,032 1,811 — — Total: Real estate loans Residential 4,982 5,956 3 10 Construction — — — — Commercial 4,484 7,026 45 72 Commercial 84 1,289 — 27 Obligations of states and political subdivisions — — — — Home equity loans and lines of credit 164 208 — — Auto loans 291 399 1 1 Other 17 10 — — Total Impaired Loans $ 10,022 $ 14,888 $ 49 $ 110 |
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, 2018 and September 30, 2018 (in thousands): Pass Special Mention Substandard Doubtful or Loss Total December 31, 2018 Commercial real estate loans $ 414,214 $ 9,408 $ 10,805 $ — $ 434,427 Commercial 56,347 6 1,028 — 57,381 Obligations of states and political subdivisions 75,041 — — — 75,041 Total $ 545,602 $ 9,414 $ 11,833 $ — $ 566,849 Pass Special Mention Substandard Doubtful or Loss Total September 30, 2018 Commercial real estate loans $ 392,915 $ 8,960 $ 14,698 $ — $ 416,573 Commercial 48,137 8 1,334 — 49,479 Obligations of states and political subdivisions 73,362 — — — 73,362 Total $ 514,414 $ 8,968 $ 16,032 $ — $ 539,414 |
Schedule of Performing or Nonperforming Loans | The following tables present the risk ratings in the consumer categories of performing and non-performing loans at December 31, 2018 and September 30, 2018 (in thousands): Performing Non- performing Purchased Credit Impaired Total December 31, 2018 Real estate loans: Residential $ 594,896 $ 5,668 $ — $ 600,564 Construction 4,755 — — 4,755 Home equity loans and lines of credit 42,733 538 — 43,271 Auto loans 127,632 584 — 128,216 Other 2,853 17 — 2,870 Total $ 772,869 $ 6,807 $ — $ 779,676 Performing Non- performing Purchased Impaired Credit Total September 30, 2018 Real estate loans: Residential $ 575,244 $ 5,317 $ — $ 580,561 Construction 3,920 — — 3,920 Home equity loans and lines of credit 43,746 216 — 43,962 Auto loans 145,633 587 — 146,220 Other 2,664 18 — 2,682 Total $ 771,207 $ 6,138 $ — $ 777,345 |
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, 2018 and September 30, 2018 (in thousands): 31-60 Days 61-89 Days 90 + Days Past Due and Total Purchased Credit Impaired Total Current Past Due Past Due Accruing Nonaccrual Past Due Accruing Nonaccrual Loans December 31, 2018 Real estate loans: Residential $ 592,486 $ 1,485 $ 925 $ — $ 5,668 $ 8,078 $ — $ — $ 600,564 Construction 4,755 — — — — — — — 4,755 Commercial 431,140 — — — 1,977 1,977 253 1,057 434,427 Commercial 56,504 13 16 — 632 661 — 216 57,381 Obligations of states and political subdivisions 75,041 — — — — — — — 75,041 Home equity loans and lines of credit 42,621 65 47 — 538 650 — — 43,271 Auto loans 125,573 1,981 78 — 584 2,643 — — 128,216 Other 2,812 30 11 — 17 58 — — 2,870 Total $ 1,330,932 $ 3,574 $ 1,077 $ — $ 9,416 $ 14,067 $ 253 $ 1,273 $ 1,346,525 31-60 Days 61-89 Days 90 + Days Past Due and Total Purchased Credit Impaired Total Current Past Due Past Due Accruing Nonaccrual Past Due Accruing Nonaccrual Loans September 30, 2018 Real estate loans: Residential $ 572,236 $ 2,088 $ 920 $ — $ 5,317 $ 8,325 $ — $ — $ 580,561 Construction 3,920 — — — — — — — 3,920 Commercial 412,636 185 — — 1,951 2,136 255 1,546 416,573 Commercial 48,567 25 11 — 875 911 — 1 49,479 Obligations of states and political subdivisions 73,362 — — — — — — — 73,362 Home equity loans and lines of credit 43,716 30 — — 216 246 — — 43,962 Auto loans 144,140 1,473 20 — 587 2,080 — — 146,220 Other 2,647 17 — — 18 35 — — 2,682 Total $ 1,301,224 $ 3,818 $ 951 $ — $ 8,964 $ 13,733 $ 255 $ 1,547 $ 1,316,759 |
Summary of Primary Segments of ALL | The following table summarizes changes in the primary segments of the ALL for the three months period ended December 31, 2018 and 2017 (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, 2018 $ 3,605 $ 35 $ 3,458 $ 1,462 $ 323 $ 296 $ 1,859 $ 23 $ 627 $ 11,688 Charge-offs (142 ) — — (22 ) — — (368 ) — — (532 ) Recoveries 6 — — — — 1 181 1 — 189 Provision 276 8 38 264 (28 ) 1 22 2 293 876 ALL balance at December 31, 2018 $ 3,745 $ 43 $ 3,496 $ 1,704 $ 295 $ 298 $ 1,694 $ 26 $ 920 $ 12,221 ALL balance at September 30, 2017 $ 3,878 $ 23 $ 1,758 $ 987 $ 248 $ 470 $ 1,836 $ 21 $ 144 $ 9,365 Charge-offs (43 ) — (1 ) (133 ) — - (536 ) (6 ) — (719 ) Recoveries 3 — 2 10 — 1 170 1 — 187 Provision (69 ) 10 560 190 (35 ) (22 ) 492 5 (131 ) 1,000 ALL balance at December 31, 2017 $ 3,769 $ 33 $ 2,319 $ 1,054 $ 213 $ 449 $ 1,962 $ 21 $ 13 $ 9,833 Acquired loans are recorded at fair value on their purchase date without a carryover of the related allowance for loan losses. During the three months ended December 31, 2018 the Company recorded provision expense for the residential real estate, construction loans, commercial real estate, commercial, home equity loans and lines of credit, auto and other loan segments, due to either increased loan balances, changes in the loan mix within the pool, and/or charge-off activity in those segments. Credit provisions were recorded for loan loss for the obligations of states and political subdivisions segment. During the three months ended December 31, 2017 the Company recorded provision expense for the construction loans, commercial real estate, commercial, auto and other loan segments, due to either increased loan balances, changes in the loan mix within the pool, and/or charge-off activity in those segments. Credit provisions were recorded for loan loss for the residential real estate, obligations of states and political subdivisions and home equity loans and lines of credit segments. 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, 2018 and September 30, 2018 (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 $ 154 $ — $ — $ — $ — $ 8 $ 164 $ — $ — $ 326 Collectively evaluated for impairment 3,591 43 3,496 1,704 295 290 1,530 26 920 11,895 ALL balance at December 31, 2018 $ 3,745 $ 43 $ 3,496 $ 1,704 $ 295 $ 298 $ 1,694 $ 26 $ 920 $ 12,221 Individually evaluated for impairment $ 149 $ — $ — $ — $ — $ — $ 164 $ — $ — $ 313 Collectively evaluated for impairment 3,456 35 3,458 1,462 323 296 1,695 23 627 11,375 ALL balance at September 30, 2018 $ 3,605 $ 35 $ 3,458 $ 1,462 $ 323 $ 296 $ 1,859 $ 23 $ 627 $ 11,688 |
Summary of Troubled Debt Restructuring Granted | The following is a summary of troubled debt restructuring granted during the three months ended December 31, 2018 and 2017 (dollars in thousands): For the Three Months Ended December 31, 2018 Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Troubled Debt Restructurings Real estate loans: Residential 2 $ 95 $ 95 Construction — — — Commercial — — — Commercial — — — Obligations of states and political subdivisions — — — Home equity loans and lines of credit 2 159 159 Auto loans 1 21 21 Other — — — Total 5 $ 275 $ 275 For the Three Months Ended December 31, 2017 Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Troubled Debt Restructurings Real estate loans: Residential 2 $ 243 $ 240 Construction — — — Commercial — — — Commercial — — — Obligations of states and political subdivisions — — — Home equity loans and lines of credit — — — Auto loans — — — Other — — — Total 2 $ 243 $ 240 |
Deposits (Tables)
Deposits (Tables) | 3 Months Ended |
Dec. 31, 2018 | |
Banking And Thrift [Abstract] | |
Schedule of Deposits by Major Classifications | Deposits consist of the following major classifications (in thousands): December 31, 2018 September 30, 2018 Non-interest bearing demand accounts $ 162,129 $ 158,340 Interest bearing demand accounts 198,320 221,327 Money market accounts 317,828 296,078 Savings and club accounts 135,837 135,862 Certificates of deposit 493,803 525,248 Total $ 1,307,917 $ 1,336,855 |
Net Periodic Benefit Cost-Def_2
Net Periodic Benefit Cost-Defined Benefit Plan (Tables) | 3 Months Ended |
Dec. 31, 2018 | |
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 three month period ended December 31, 2018 and 2017 (in thousands): For the Three Months Ended December 31, 2018 2017 Service Cost $ — $ — Interest Cost 174 174 Expected return on plan assets (293 ) (298 ) Amortization of unrecognized loss — — Net periodic benefit cost $ (119 ) $ (124 ) |
Equity Incentive Plan (Tables)
Equity Incentive Plan (Tables) | 3 Months Ended |
Dec. 31, 2018 | |
Postemployment Benefits [Abstract] | |
Schedule of Restricted Stock Option Activity | The following is a summary of the status of the Company’s restricted stock as of December 31, 2018, and changes therein during the three month period then ended: Number of Restricted Weighted- average Grant Date Fair Value Nonvested at September 30, 2018 35,072 $ 15.37 Granted 37,236 16.23 Vested (625 ) 15.00 Forfeited (3,937 ) 15.87 Nonvested at December 31, 2018 67,746 $ 15.94 |
Fair Value (Tables)
Fair Value (Tables) | 3 Months Ended |
Dec. 31, 2018 | |
Fair Value Disclosures [Abstract] | |
Schedule of Fair Value For Assets Required to be Measured and Reported at Fair Value on a Recurring Basis | The following tables provide the fair value for assets required to be measured and reported at fair value on a recurring basis on the Consolidated Balance Sheet as of December 31, 2018 and September 30, 2018 by level within the fair value hierarchy. Recurring Fair Value Measurements at Reporting Date December 31, 2018 Level I Level II Level III Total Investment securities available for sale: Mortgage backed securities $ — $ 267,993 $ — $ 267,993 Obligations of states and political subdivisions — 32,924 — 32,924 U.S. government agencies — 9,789 — 9,789 Corporate obligations — 39,202 7,642 46,844 Other debt securities — 18,504 — 18,504 Total Debt Securities $ — $ 368,412 $ 7,642 $ 376,054 Equity securities- financial services $ 18 $ — $ — $ 18 Derivatives and hedging activities: — 1,511 — 1,511 September 30, 2018 Level I Level II Level III Total Investment securities available for sale: Mortgage backed securities $ — $ 258,123 $ — $ 258,123 Obligations of states and political subdivisions — 40,949 — 40,949 U.S. government agencies — 5,558 — 5,558 Corporate obligations — 39,677 7,738 47,415 Other debt securities — 19,373 — 19,373 Equity securities-financial services 20 — — 20 Total Securities $ 20 $ 363,680 $ 7,738 $ 371,438 Derivatives and hedging activities: — 2,452 — 2,452 |
Schedule of Changes in Fair Value of Level III Investments | The following tables present a summary of changes in the fair value of the Company’s Level III investments for the three month periods ended December 31, 2018 and 2017 (in thousands). Fair Value Measurement Using Significant Unobservable Inputs (Level III) Three Months Ended December 31, 2018 December 31, 2017 Beginning balance $ 7,738 $ 7,224 Purchases, sales, issuances, settlements, net — 500 Total unrealized gain (loss): Included in other comprehensive (loss) income (96 ) 102 Transfers in and/or out of Level III — — $ 7,642 $ 7,826 |
Schedule of Fair Value For Assets Required to be Measured and Reported at Fair Value on a Nonrecurring Basis | The following tables provide the fair value for assets required to be measured and reported at fair value on a non recurring basis on the Consolidated Balance Sheet as of December 31, 2018 and September 30, 2018 by level within the fair value hierarchy: Non-Recurring Fair Value Measurements at Reporting Date (in thousands) December 31, 2018 Level I Level II Level III Total Foreclosed real estate $ — $ — $ 876 $ 876 Impaired loans — — 7,570 7,570 September 30, 2018 Level I Level II Level III Total Foreclosed real estate $ — $ — $ 1,141 $ 1,141 Impaired loans — — 11,557 11,557 |
Summary of Additional Quantitative Information about Assets Measured at Fair Value on a Nonrecurring Basis | The following tables present 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, 2018 Impaired loans $ 7,570 Appraisal of collateral (1) Appraisal adjustments (2) 0% to 35% (21.0%) Foreclosed real estate owned 876 Appraisal of collateral (1), (3) Appraisal adjustments (2) 20% to 46% (26.1%) Quantitative Information about Level 3 Fair Value Measurements (in thousands) Fair Value Estimate Valuation Techniques Unobservable Input Range September 30, 2018 Impaired loans $ 11,557 Appraisal of collateral (1) Appraisal adjustments (2) 0% to 35% (25.3%) Foreclosed real estate owned 1,141 Appraisal of collateral (1), (3) Appraisal adjustments (2) 20% to 46% (22.1%) (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 Assets and Liabilities not Required to be Measured and Reported at Fair Value | The methods and assumptions used by the Company in estimating fair values of financial instruments at December 31, 2018 is in accordance with ASC Topic 825, Financial Instruments December 31, 2018 Carrying Level I Level II Level III Total Fair Value Financial assets: Cash and cash equivalents $ 39,650 $ 39,650 $ — $ — $ 39,650 Certificates of deposit 500 — — 500 500 Loans receivable, net 1,334,304 — — 1,297,473 1,297,473 Accrued interest receivable 6,261 6,261 — — 6,261 Regulatory stock 15,121 15,121 — — 15,121 Mortgage servicing rights 200 — — 336 336 Bank owned life insurance 38,874 38,874 — — 38,874 Financial liabilities: Deposits $ 1,307,917 $ 814,114 $ — $ 490,194 $ 1,304,308 Short-term borrowings 239,824 239,824 — — 239,824 Other borrowings 112,373 — — 111,904 111,904 Advances by borrowers for taxes and insurance 8,435 8,435 — — 8,435 Accrued interest payable 1,488 1,488 — — 1,488 September 30, 2018 Carrying Level I Level II Level III Total Fair Value Financial assets: Cash and cash equivalents $ 43,539 $ 43,539 $ — $ — $ 43,539 Certificates of deposit 500 — — 505 505 Loans receivable, net 1,305,071 — — 1,269,127 1,269,127 Accrued interest receivable 6,640 6,640 — — 6,640 Regulatory stock 12,973 12,973 — — 12,973 Mortgage servicing rights 206 — — 340 340 Bank owned life insurance 38,630 38,630 — — 38,630 Financial liabilities: Deposits $ 1,336,855 $ 811,607 $ — $ 520,861 $ 1,332,468 Short-term borrowings 179,773 179,773 — — 179,773 Other borrowings 118,723 — — 117,920 117,920 Advances by borrowers for taxes and insurance 6,826 6,826 — — 6,826 Accrued interest payable 1,369 1,369 — — 1,369 |
Accumulated Other Comprehensi_2
Accumulated Other Comprehensive Loss (Tables) | 3 Months Ended |
Dec. 31, 2018 | |
Equity [Abstract] | |
Summary of Activity in Accumulated Other Comprehensive Loss | The activity in accumulated other comprehensive loss for the three month periods ended December 31, 2018 and 2017 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, 2018 $ (477 ) $ (11,369 ) $ 1,936 (9,910 ) Other comprehensive income (loss) before reclassifications — 3,991 (573 ) 3,418 Amounts reclassified from accumulated other comprehensive loss — (3 ) (171 ) (174 ) Change in accounting principal for adoption of ASU 2016-01 — 4 — 4 Period change — 3,992 (744 ) 3,248 Balance at December 31, 2018 $ (477 ) $ (7,377 ) $ 1,192 $ (6,662 ) Balance at September 30, 2017 $ (628 ) $ (927 ) $ 801 $ (754 ) Other comprehensive (loss) income before reclassifications — (1,288 ) 301 (987 ) Amounts reclassified from accumulated other comprehensive loss, net of tax — — (15 ) (15 ) Period change — (1,288 ) 286 (1,002 ) Balance at December 31, 2017 $ (628 ) $ (2,215 ) $ 1,087 $ (1,756 ) |
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 month periods ended December 31, 2018 and 2017 (in thousands): Amount Reclassified from Accumulated Other Comprehensive Loss Details About Accumulated Other Comprehensive Loss Components Accumulated Other Comprehensive Loss for the Three Months Ended December 31, 2018 Affected Line Item in the Consolidated Statement of Income 2018 2017 Securities available for sale Net securities gains reclassified into earnings $ 4 $ — Gain on sale of investments, net Related income tax expense (1 ) — Income taxes Net effect on accumulated other comprehensive loss for the period 3 — Derivatives and hedging activities: Interest expense, effective portion 217 23 Interest expense Related income tax expense (46 ) (8 ) Income taxes Net effect on accumulated other comprehensive loss for the period 171 15 Total reclassification for the period $ 174 $ 15 |
Derivatives and Hedging Activit
Derivatives and Hedging Activities (Tables) | 3 Months Ended |
Dec. 31, 2018 | |
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, 2018 and September 30, 2017 (in thousands). Fair Values of Derivative Instruments Fair Values of Derivative Instruments Asset Derivatives Liability Derivatives As of December 31, 2018 As of September 30, 2018 As of December 31, 2018 As of Septenber 30, 2018 Notional Amount Balance Sheet Location Fair Value Balance Sheet Location Fair Value Balance Sheet Location Fair Value Balance Sheet Location Fair Value Derivatives designated as hedging instruments Derivatives designated as hedging instruments Interest Rate Products $ 100,000 Other Assets $ 1,832 Other Assets $ 2,595 Interest Rate Products Other Liabilities $ 145 Other Liabilities $ - Total derivatives designated as hedging instruments $ 1,832 $ 2,595 Total derivatives designated as hedging instruments $ 145 $ - |
Schedule of Effect of Fair Value and Cash Flow Hedge Accounting on Accumulated Other Comprehensive Income | The tables below presents the effect of the Company’s cash flow hedge accounting on Accumulated Other Comprehensive Income for the three month period ended December 31, 2018 and 2017 (in thousands). The Effect of Fair Value and Cash Flow Hedge Accounting on Accumulated Other Comprehensive Income Derivatives in Hedging Relationships Amount of (Loss) Gain Recognized in OCI on Derivative Amount of Gain Reclassified from Accumulated OCI into Income Derivatives in Cash Flow Hedging Relationships 2018 2017 Location of Gain Reclassified from Accumulated OCI into Income 2018 2017 Interest Rate Products $ (941 ) $ 457 Interest expense $ 217 $ 23 Total $ (941 ) $ 457 $ 217 $ 23 The table below presents the effect of the Company’s derivative financial instruments on Consolidated Statement of Operations for the three months ended December 31, 2018 and 2017. Location and Amount of Gain Recognized in Income on Fair Value and Cash Flow Hedging Relationships Three months ended December 31, 2018 Three months ended December 31, 2017 Interest Income (Expense) Other Income (Expense) Interest Income (Expense) Other Income (Expense) Total amounts of income and expense line items presented in the statement of financial performance in which the effects of fair value or cash flow hedges are recorded $ 217 $ - $ 23 $ - The effects of fair value and cash flow hedging: Gain in cash flow hedging relationships Interest contracts Amount of gain reclassified from accumulated other comprehensive income into income $ 217 $ - $ 23 $ - |
Schedule of Gross Presentation, Effects of Offsetting and Net Presentation of Derivatives | The table below presents a gross presentation, the effects of offsetting, and a net presentation of the Company’s derivatives for the periods ended December 31, 2018 and 2017. The net amounts of derivative assets or liabilities can be reconciled on the tabular disclosure of fair value. The tabular disclosure of fair value provides the location the derivative assets and liabilities are presented on the Consolidated Balance Sheet. There were no derivative liabilities for the periods ended December 31, 2018 and September 30, 2018. Offsetting of Derivative Assets as of December 31, 2018 Gross Amounts Not Offset in the Statement of Financial Position Gross Amounts of Recognized Assets Gross Amounts Offset in the Statement of Financial Position Net Amounts of Assets presented in the Statement of Financial Position Financial Instruments Cash Collateral Received Net Amount Derivatives $ 1,832 $ - $ 1,832 $ (145 ) $ 1,687 $ - Offsetting of Derivative Liabilities as of December 31, 2018 Gross Amounts Not Offset in the Statement of Financial Position Gross Amounts of Recognized Assets Gross Amounts Offset in the Statement of Financial Position Net Amounts of Liabilities presented in the Statement of Financial Position Financial Instruments Cash Collateral Received Net Amount Derivatives $ 145 $ - $ 145 $ (145 ) $ - $ - Offsetting of Derivative Assets as of September 30, 2018 Gross Amounts Not Offset in the Statement of Financial Position Gross Amounts of Recognized Assets Gross Amounts Offset in the Statement of Financial Position Net Amounts of Assets presented in the Statement of Financial Position Financial Instruments Cash Collateral Received Net Amount Derivatives $ 2,595 $ - $ 2,595 $ - $ 2,540 $ 55 |
Nature of Operations and Basi_2
Nature of Operations and Basis of Presentation - Additional Information (Detail) | Dec. 31, 2018 |
ESSA Advisory Services, LLC [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, 2018 | Dec. 31, 2017 | |
Earnings Per Share [Abstract] | ||
Weighted-average common shares outstanding | 18,133,095 | 18,133,095 |
Average treasury stock shares | (6,316,361) | (6,521,843) |
Average unearned ESOP shares | (809,051) | (854,325) |
Average unearned non-vested shares | (56,327) | (39,789) |
Weighted average common shares and common stock equivalents used to calculate basic earnings per share | 10,951,356 | 10,717,138 |
Weighted average common shares and common stock equivalents used to calculate diluted earnings per share | 10,951,356 | 10,717,138 |
Earnings Per Share - Additional
Earnings Per Share - Additional Information (Detail) - Stock Option [Member] - $ / shares | 3 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Anti-dilutive securities | 52,272 | 41,062 |
Average weighted price per share of anti-dilutive shares | $ 15.95 | $ 15.98 |
Accounting Pronouncements - Add
Accounting Pronouncements - Additional Information (Detail) - USD ($) | Oct. 01, 2018 | Dec. 31, 2018 |
ASU 2016-01 [Member] | ||
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | ||
Reclassification from accumulated other comprehensive income to retained earnings | $ 4,000 | |
ASU 2016-02, Leases [Member] | Maximum [Member] | ||
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | ||
Estimated percentage increase in assets from recognition of leases | 1.00% | |
Estimated percentage increase in liabilities from recognition of leases | 1.00% |
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, 2018 | Sep. 30, 2018 |
Schedule of Available-for-sale Securities [Line Items] | ||
Available for sale, Amortized Cost | $ 385,392 | |
Available for sale, Fair Value | 376,054 | $ 371,438 |
Available for sale equity securities, Amortized Cost | 25 | |
Available for sale equity securities, Gross Unrealized Losses | (5) | |
Available for sale equity securities, Fair Value | 18 | 20 |
Available for sale equity and debt securities, Amortized Cost | 385,831 | |
Available for sale equity and debt securities, Gross Unrealized Gains | 388 | |
Available for sale equity and debt securities, Gross Unrealized Losses | (14,781) | |
Available for sale equity and debt securities, Fair Value | 371,438 | |
Fannie Mae [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for sale, Amortized Cost | 157,353 | 147,433 |
Available for sale, Gross Unrealized Gains | 238 | 17 |
Available for sale, Gross Unrealized Losses | (3,764) | (5,827) |
Available for sale, Fair Value | 153,827 | 141,623 |
Freddie Mac [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for sale, Amortized Cost | 96,057 | 99,587 |
Available for sale, Gross Unrealized Gains | 42 | 2 |
Available for sale, Gross Unrealized Losses | (2,737) | (4,415) |
Available for sale, Fair Value | 93,362 | 95,174 |
Governmental National Mortgage Association Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for sale, Amortized Cost | 21,397 | 22,164 |
Available for sale, Gross Unrealized Gains | 5 | |
Available for sale, Gross Unrealized Losses | (598) | (838) |
Available for sale, Fair Value | 20,804 | 21,326 |
Mortgage-Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for sale, Amortized Cost | 274,807 | 269,184 |
Available for sale, Gross Unrealized Gains | 285 | 19 |
Available for sale, Gross Unrealized Losses | (7,099) | (11,080) |
Available for sale, Fair Value | 267,993 | 258,123 |
Obligations of States and Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for sale, Amortized Cost | 33,599 | 42,090 |
Available for sale, Gross Unrealized Gains | 207 | 251 |
Available for sale, Gross Unrealized Losses | (882) | (1,392) |
Available for sale, Fair Value | 32,924 | 40,949 |
U.S. Government Agency Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for sale, Amortized Cost | 9,813 | 5,678 |
Available for sale, Gross Unrealized Gains | 18 | 2 |
Available for sale, Gross Unrealized Losses | (42) | (122) |
Available for sale, Fair Value | 9,789 | 5,558 |
Corporate Obligations [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for sale, Amortized Cost | 47,987 | 48,559 |
Available for sale, Gross Unrealized Gains | 154 | 116 |
Available for sale, Gross Unrealized Losses | (1,297) | (1,260) |
Available for sale, Fair Value | 46,844 | 47,415 |
Other Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for sale, Amortized Cost | 19,186 | 20,295 |
Available for sale, Gross Unrealized Gains | 22 | 0 |
Available for sale, Gross Unrealized Losses | (704) | (922) |
Available for sale, Fair Value | 18,504 | 19,373 |
Total Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for sale, Amortized Cost | 385,392 | 385,806 |
Available for sale, Gross Unrealized Gains | 686 | 388 |
Available for sale, Gross Unrealized Losses | (10,024) | (14,776) |
Available for sale, Fair Value | $ 376,054 | $ 371,418 |
Investment Securities - Additio
Investment Securities - Additional Information (Detail) - USD ($) | 3 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2018 | |
Amortized Cost And Fair Value Debt Securities [Abstract] | |||
Equity Securities Fv Ni | $ 18,000 | $ 20,000 | |
Unrealized loss net of tax recognized inAOCI | $ 4,000 | ||
Realized gross gains | 43,000 | $ 0 | |
Realized gross losses | 39,000 | $ 0 | |
Proceeds from the sale of investment securities | $ 9,931,000 |
Investment Securities - Summa_2
Investment Securities - Summary of Unrealized and Realized Gains Losses Recognized in Net Income on Equity Securities (Detail) $ in Thousands | 3 Months Ended |
Dec. 31, 2018USD ($) | |
Investments Debt And Equity Securities [Abstract] | |
Net gains and (losses) recognized during the period on equity securities | $ (2) |
Unrealized gains and (losses) recognized during the reporting period on equity securities still held at the reporting date | $ (2) |
Investment Securities - Schedul
Investment Securities - Schedule of Amortized Cost and Fair Value of Debt Securities by Contractual Maturity (Detail) - USD ($) $ in Thousands | Dec. 31, 2018 | Sep. 30, 2018 |
Available-for-sale Securities, Debt Maturities, Amortized Cost Basis, Fiscal Year Maturity [Abstract] | ||
Due in one year or less, Amortized Cost | $ 1 | |
Due after one year through five years, Amortized Cost | 34,074 | |
Due after five years through ten years, Amortized Cost | 100,036 | |
Due after ten years, Amortized Cost | 251,281 | |
Available for sale, Amortized Cost | 385,392 | |
Due in one year or less, Fair Value | 1 | |
Due after one year through five years, Fair Value | 33,768 | |
Due after five years through ten years, Fair Value | 97,464 | |
Due after ten years, Fair Value | 244,821 | |
Total, Fair Value | $ 376,054 | $ 371,438 |
Investment Securities - Sched_2
Investment Securities - Schedule of Gross Unrealized Losses and Fair Value (Detail) $ in Thousands | Dec. 31, 2018USD ($)Security | Sep. 30, 2018USD ($)Security |
Schedule of Available-for-sale Securities [Line Items] | ||
Number of Securities, Debt | Security | 256 | |
Fair Value, Less than Twelve Months, Debt | $ 46,449 | |
Gross Unrealized Losses, Less than Twelve Months, Debt | (466) | |
Fair Value, Twelve Months or Greater, Debt | 255,741 | |
Gross Unrealized Losses, Twelve Months or Greater, Debt | (9,558) | |
Fair Value Total, Debt | 302,190 | |
Gross Unrealized Losses Total, Debt | $ (10,024) | |
Number of Securities, Equity securities | Security | 1 | |
Fair Value, Less than Twelve Months, Equity securities | $ 20 | |
Gross Unrealized Losses, Less than Twelve Months, Equity securities | (5) | |
Gross Unrealized Losses, Twelve Months or Greater, Equity securities | 0 | |
Fair Value Total, Equity securities | 20 | |
Gross Unrealized Losses Total, Equity securities | $ (5) | |
Number of Securities, Equity securities and Debt securities | Security | 276 | |
Fair Value, Less than Twelve Months, Equity and Debt securities | $ 138,094 | |
Gross Unrealized Losses, Less than Twelve Months, Equity and Debt securities | (3,047) | |
Fair Value, Twelve Months or Greater, Equity and Debt securities | 203,329 | |
Gross Unrealized Losses, Twelve Months or Greater, Equity and Debt securities | (11,734) | |
Fair Value Total, Equity and Debt securities | 341,423 | |
Gross Unrealized Losses Total, Equity and Debt securities | $ (14,781) | |
Fannie Mae [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Number of Securities, Debt | Security | 92 | 100 |
Fair Value, Less than Twelve Months, Debt | $ 25,419 | $ 63,997 |
Gross Unrealized Losses, Less than Twelve Months, Debt | (163) | (1,442) |
Fair Value, Twelve Months or Greater, Debt | 94,531 | 74,783 |
Gross Unrealized Losses, Twelve Months or Greater, Debt | (3,601) | (4,385) |
Fair Value Total, Debt | 119,950 | 138,780 |
Gross Unrealized Losses Total, Debt | $ (3,764) | $ (5,827) |
Freddie Mac [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Number of Securities, Debt | Security | 69 | 74 |
Fair Value, Less than Twelve Months, Debt | $ 246 | $ 28,902 |
Gross Unrealized Losses, Less than Twelve Months, Debt | (830) | |
Fair Value, Twelve Months or Greater, Debt | 83,010 | 65,812 |
Gross Unrealized Losses, Twelve Months or Greater, Debt | (2,737) | (3,585) |
Fair Value Total, Debt | 83,256 | 94,714 |
Gross Unrealized Losses Total, Debt | $ (2,737) | $ (4,415) |
Governmental National Mortgage Association [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Number of Securities, Debt | Security | 16 | 19 |
Fair Value, Less than Twelve Months, Debt | $ 5,474 | $ 9,776 |
Gross Unrealized Losses, Less than Twelve Months, Debt | (51) | (142) |
Fair Value, Twelve Months or Greater, Debt | 12,295 | 11,550 |
Gross Unrealized Losses, Twelve Months or Greater, Debt | (547) | (696) |
Fair Value Total, Debt | 17,769 | 21,326 |
Gross Unrealized Losses Total, Debt | $ (598) | $ (838) |
Obligations of States and Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Number of Securities, Debt | Security | 22 | 25 |
Fair Value, Less than Twelve Months, Debt | $ 995 | $ 7,651 |
Gross Unrealized Losses, Less than Twelve Months, Debt | (5) | (105) |
Fair Value, Twelve Months or Greater, Debt | 24,867 | 21,004 |
Gross Unrealized Losses, Twelve Months or Greater, Debt | (877) | (1,287) |
Fair Value Total, Debt | 25,862 | 28,655 |
Gross Unrealized Losses Total, Debt | $ (882) | $ (1,392) |
U.S. Government Agency Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Number of Securities, Debt | Security | 1 | 3 |
Fair Value, Less than Twelve Months, Debt | $ 5,177 | |
Gross Unrealized Losses, Less than Twelve Months, Debt | (122) | |
Fair Value, Twelve Months or Greater, Debt | $ 1,918 | |
Gross Unrealized Losses, Twelve Months or Greater, Debt | (42) | |
Fair Value Total, Debt | 1,918 | 5,177 |
Gross Unrealized Losses Total, Debt | $ (42) | $ (122) |
Corporate Obligations [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Number of Securities, Debt | Security | 38 | 34 |
Fair Value, Less than Twelve Months, Debt | $ 14,315 | $ 20,172 |
Gross Unrealized Losses, Less than Twelve Months, Debt | (247) | (363) |
Fair Value, Twelve Months or Greater, Debt | 22,978 | 13,206 |
Gross Unrealized Losses, Twelve Months or Greater, Debt | (1,050) | (897) |
Fair Value Total, Debt | 37,293 | 33,378 |
Gross Unrealized Losses Total, Debt | $ (1,297) | $ (1,260) |
Other Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Number of Securities, Debt | Security | 18 | 20 |
Fair Value, Less than Twelve Months, Debt | $ 2,399 | |
Gross Unrealized Losses, Less than Twelve Months, Debt | (38) | |
Fair Value, Twelve Months or Greater, Debt | $ 16,142 | 16,974 |
Gross Unrealized Losses, Twelve Months or Greater, Debt | (704) | (884) |
Fair Value Total, Debt | 16,142 | 19,373 |
Gross Unrealized Losses Total, Debt | $ (704) | $ (922) |
Loans Receivable, Net and All_3
Loans Receivable, Net and Allowance for Loan Losses - Summary of Loans Receivable (Detail) - USD ($) $ in Thousands | Dec. 31, 2018 | Sep. 30, 2018 | Dec. 31, 2017 | Sep. 30, 2017 |
Real estate loans: | ||||
Total Loans | $ 1,346,525 | $ 1,316,759 | ||
Less allowance for loan losses | 12,221 | 11,688 | $ 9,833 | $ 9,365 |
Net loans | 1,334,304 | 1,305,071 | ||
Obligations of States and Political Subdivisions [Member] | ||||
Real estate loans: | ||||
Total Loans | 75,041 | 73,362 | ||
Less allowance for loan losses | 295 | 323 | 213 | 248 |
Home Equity Loans and Lines of Credit [Member] | ||||
Real estate loans: | ||||
Total Loans | 43,271 | 43,962 | ||
Less allowance for loan losses | 298 | 296 | 449 | 470 |
Auto Loans [Member] | ||||
Real estate loans: | ||||
Total Loans | 128,216 | 146,220 | ||
Less allowance for loan losses | 1,694 | 1,859 | 1,962 | 1,836 |
Other [Member] | ||||
Real estate loans: | ||||
Total Loans | 2,870 | 2,682 | ||
Less allowance for loan losses | 26 | 23 | 21 | 21 |
Residential [Member] | Real Estate Loans [Member] | ||||
Real estate loans: | ||||
Total Loans | 600,564 | 580,561 | ||
Less allowance for loan losses | 3,745 | 3,605 | 3,769 | 3,878 |
Construction [Member] | Real Estate Loans [Member] | ||||
Real estate loans: | ||||
Total Loans | 4,755 | 3,920 | ||
Less allowance for loan losses | 43 | 35 | 33 | 23 |
Commercial [Member] | Real Estate Loans [Member] | ||||
Real estate loans: | ||||
Total Loans | 434,427 | 416,573 | ||
Less allowance for loan losses | 3,496 | 3,458 | 2,319 | 1,758 |
Commercial Loans [Member] | ||||
Real estate loans: | ||||
Total Loans | 57,381 | 49,479 | ||
Less allowance for loan losses | $ 1,704 | $ 1,462 | $ 1,054 | $ 987 |
Loans Receivable, Net and All_4
Loans Receivable, Net and Allowance for Loan Losses - Summary of Additional Information Regarding Loans Acquired and Accounted (Detail) - USD ($) $ in Thousands | Dec. 31, 2018 | Sep. 30, 2018 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Carrying amount | $ 1,346,525 | $ 1,316,759 |
Loans Acquired with Deteriorated Credit Quality [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Outstanding balance | 1,653 | 2,497 |
Carrying amount | $ 1,526 | $ 1,802 |
Loans Receivable, Net and All_5
Loans Receivable, Net and Allowance for Loan Losses - Schedule of Loans Evaluated for Impairment (Detail) - USD ($) $ in Thousands | Dec. 31, 2018 | Sep. 30, 2018 |
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | $ 1,346,525 | $ 1,316,759 |
Individually Evaluated for Impairment | 7,896 | 11,870 |
Collectively Evaluated for Impairment | 1,337,103 | 1,303,087 |
Loans Acquired with Deteriorated Credit Quality [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 1,526 | 1,802 |
Obligations of States and Political Subdivisions [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 75,041 | 73,362 |
Collectively Evaluated for Impairment | 75,041 | 73,362 |
Home Equity Loans and Lines of Credit [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 43,271 | 43,962 |
Individually Evaluated for Impairment | 268 | 114 |
Collectively Evaluated for Impairment | 43,003 | 43,848 |
Auto Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 128,216 | 146,220 |
Individually Evaluated for Impairment | 458 | 445 |
Collectively Evaluated for Impairment | 127,758 | 145,775 |
Other [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 2,870 | 2,682 |
Individually Evaluated for Impairment | 17 | 17 |
Collectively Evaluated for Impairment | 2,853 | 2,665 |
Residential [Member] | Real Estate Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 600,564 | 580,561 |
Individually Evaluated for Impairment | 4,961 | 5,317 |
Collectively Evaluated for Impairment | 595,603 | 575,244 |
Construction [Member] | Real Estate Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 4,755 | 3,920 |
Collectively Evaluated for Impairment | 4,755 | 3,920 |
Commercial [Member] | Real Estate Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 434,427 | 416,573 |
Individually Evaluated for Impairment | 2,110 | 5,892 |
Collectively Evaluated for Impairment | 430,791 | 408,880 |
Commercial [Member] | Real Estate Loans [Member] | Loans Acquired with Deteriorated Credit Quality [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 1,526 | 1,801 |
Commercial Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 57,381 | 49,479 |
Individually Evaluated for Impairment | 82 | 85 |
Collectively Evaluated for Impairment | $ 57,299 | 49,393 |
Commercial Loans [Member] | Loans Acquired with Deteriorated Credit Quality [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | $ 1 |
Loans Receivable, Net and All_6
Loans Receivable, Net and Allowance for Loan Losses - Schedule of Investment and Unpaid Principal Balances for Impaired Loans (Detail) - USD ($) $ in Thousands | 3 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2018 | |
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment | $ 7,896 | $ 11,870 | |
Unpaid Principal Balance | 10,861 | 15,014 | |
Associated Allowance | 326 | 313 | |
Average Recorded Investment | 10,022 | $ 14,888 | |
Interest Income Recognized | 49 | 110 | |
With no Specific Allowance Recorded [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment | 6,265 | 10,644 | |
Unpaid Principal Balance | 8,973 | 13,701 | |
Average Recorded Investment | 8,990 | 13,077 | |
Interest Income Recognized | 49 | 110 | |
With an Allowance Recorded [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment | 1,631 | 1,226 | |
Unpaid Principal Balance | 1,888 | 1,313 | |
Associated Allowance | 326 | 313 | |
Average Recorded Investment | 1,032 | 1,811 | |
Home Equity Loans and Lines of Credit [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment | 268 | 114 | |
Unpaid Principal Balance | 296 | 138 | |
Associated Allowance | 8 | ||
Average Recorded Investment | 164 | 208 | |
Home Equity Loans and Lines of Credit [Member] | With no Specific Allowance Recorded [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment | 227 | 114 | |
Unpaid Principal Balance | 247 | 138 | |
Average Recorded Investment | 151 | 206 | |
Home Equity Loans and Lines of Credit [Member] | With an Allowance Recorded [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment | 41 | ||
Unpaid Principal Balance | 49 | ||
Associated Allowance | 8 | ||
Average Recorded Investment | 13 | 2 | |
Auto Loans [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment | 458 | 445 | |
Unpaid Principal Balance | 597 | 598 | |
Associated Allowance | 164 | 164 | |
Average Recorded Investment | 291 | 399 | |
Interest Income Recognized | 1 | 1 | |
Auto Loans [Member] | With no Specific Allowance Recorded [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment | 97 | 87 | |
Unpaid Principal Balance | 225 | 223 | |
Average Recorded Investment | 87 | 137 | |
Interest Income Recognized | 1 | 1 | |
Auto Loans [Member] | With an Allowance Recorded [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment | 361 | 358 | |
Unpaid Principal Balance | 372 | 375 | |
Associated Allowance | 164 | 164 | |
Average Recorded Investment | 204 | 262 | |
Other [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment | 17 | 17 | |
Unpaid Principal Balance | 24 | 25 | |
Average Recorded Investment | 17 | 10 | |
Other [Member] | With no Specific Allowance Recorded [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment | 17 | 17 | |
Unpaid Principal Balance | 24 | 25 | |
Average Recorded Investment | 17 | 10 | |
Residential [Member] | Real Estate Loans [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment | 4,961 | 5,317 | |
Unpaid Principal Balance | 6,772 | 7,114 | |
Associated Allowance | 154 | 149 | |
Average Recorded Investment | 4,982 | 5,956 | |
Interest Income Recognized | 3 | 10 | |
Residential [Member] | Real Estate Loans [Member] | With no Specific Allowance Recorded [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment | 3,732 | 4,449 | |
Unpaid Principal Balance | 5,305 | 6,176 | |
Average Recorded Investment | 4,167 | 4,429 | |
Interest Income Recognized | 3 | 10 | |
Residential [Member] | Real Estate Loans [Member] | With an Allowance Recorded [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment | 1,229 | 868 | |
Unpaid Principal Balance | 1,467 | 938 | |
Associated Allowance | 154 | 149 | |
Average Recorded Investment | 815 | 1,527 | |
Commercial [Member] | Real Estate Loans [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment | 2,110 | 5,892 | |
Unpaid Principal Balance | 2,824 | 6,790 | |
Average Recorded Investment | 4,484 | 7,026 | |
Interest Income Recognized | 45 | 72 | |
Commercial [Member] | Real Estate Loans [Member] | With no Specific Allowance Recorded [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment | 2,110 | 5,892 | |
Unpaid Principal Balance | 2,824 | 6,790 | |
Average Recorded Investment | 4,484 | 7,006 | |
Interest Income Recognized | 45 | 72 | |
Commercial [Member] | Real Estate Loans [Member] | With an Allowance Recorded [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Average Recorded Investment | 20 | ||
Commercial Loans [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment | 82 | 85 | |
Unpaid Principal Balance | 348 | 349 | |
Average Recorded Investment | 84 | 1,289 | |
Interest Income Recognized | 27 | ||
Commercial Loans [Member] | With no Specific Allowance Recorded [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Recorded Investment | 82 | 85 | |
Unpaid Principal Balance | 348 | $ 349 | |
Average Recorded Investment | $ 84 | 1,289 | |
Interest Income Recognized | $ 27 |
Loans Receivable, Net and All_7
Loans Receivable, Net and Allowance for Loan Losses - Additional Information (Detail) | 3 Months Ended | |
Dec. 31, 2018USD ($)Contract | Dec. 31, 2017USD ($)Contract | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
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 | 5 | 2 |
Number of troubled debt restructuring loans granted terms concessions | Contract | 1 | |
Troubled debt restructurings granted terms concession | $ 14,000 | $ 240,000 |
Number of troubled debt restructuring loans granted terms and rate concessions | Contract | 3 | |
Troubled debt restructurings granted terms and rate concession | $ 180,000 | |
Number of troubled debt restructuring loans granted interest rate concession | Contract | 1 | |
Troubled debt restructurings loans granted interest rate concession | $ 81,000 | |
Number of troubled debt restructurings, loan modified, defaulted within one year of modification | Contract | 0 | 2 |
Troubled debt restructurings, loan modified, defaulted within one year of modification | $ 95,000 | |
Consumer Residential Mortgages [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Foreclosed assets | $ 795,000,000 | |
Formal foreclosure proceeding assets | $ 2,500,000 |
Loans Receivable, Net and All_8
Loans Receivable, Net and Allowance for Loan Losses - Classes of Loan Portfolio, Internal Risk Rating System (Detail) - USD ($) $ in Thousands | Dec. 31, 2018 | Sep. 30, 2018 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loan, total | $ 1,334,304 | $ 1,305,071 |
Commercial And Municipal Portfolio Segment | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loan, total | 566,849 | 539,414 |
Commercial And Municipal Portfolio Segment | Commercial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loan, total | 434,427 | 416,573 |
Commercial And Municipal Portfolio Segment | Commercial Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loan, total | 57,381 | 49,479 |
Commercial And Municipal Portfolio Segment | Obligations of States and Political Subdivisions [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loan, total | 75,041 | 73,362 |
Commercial And Municipal Portfolio Segment | Pass [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loan, total | 545,602 | 514,414 |
Commercial And Municipal Portfolio Segment | Pass [Member] | Commercial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loan, total | 414,214 | 392,915 |
Commercial And Municipal Portfolio Segment | Pass [Member] | Commercial Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loan, total | 56,347 | 48,137 |
Commercial And Municipal Portfolio Segment | Pass [Member] | Obligations of States and Political Subdivisions [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loan, total | 75,041 | 73,362 |
Commercial And Municipal Portfolio Segment | Special Mention [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loan, total | 9,414 | 8,968 |
Commercial And Municipal Portfolio Segment | Special Mention [Member] | Commercial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loan, total | 9,408 | 8,960 |
Commercial And Municipal Portfolio Segment | Special Mention [Member] | Commercial Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loan, total | 6 | 8 |
Commercial And Municipal Portfolio Segment | Substandard [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loan, total | 11,833 | 16,032 |
Commercial And Municipal Portfolio Segment | Substandard [Member] | Commercial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loan, total | 10,805 | 14,698 |
Commercial And Municipal Portfolio Segment | Substandard [Member] | Commercial Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loan, total | $ 1,028 | $ 1,334 |
Loans Receivable, Net and All_9
Loans Receivable, Net and Allowance for Loan Losses - Schedule of Performing or Non-Performing Loans (Detail) - USD ($) $ in Thousands | Dec. 31, 2018 | Sep. 30, 2018 |
Financing Receivable, Recorded Investment [Line Items] | ||
Total | $ 1,334,304 | $ 1,305,071 |
Consumer Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 779,676 | 777,345 |
Home Equity Loans and Lines of Credit [Member] | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 43,271 | 43,962 |
Auto Loans [Member] | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 128,216 | 146,220 |
Other [Member] | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 2,870 | 2,682 |
Performing [Member] | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 772,869 | 771,207 |
Performing [Member] | Home Equity Loans and Lines of Credit [Member] | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 42,733 | 43,746 |
Performing [Member] | Auto Loans [Member] | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 127,632 | 145,633 |
Performing [Member] | Other [Member] | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 2,853 | 2,664 |
Nonperforming [Member] | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 6,807 | 6,138 |
Nonperforming [Member] | Home Equity Loans and Lines of Credit [Member] | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 538 | 216 |
Nonperforming [Member] | Auto Loans [Member] | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 584 | 587 |
Nonperforming [Member] | Other [Member] | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 17 | 18 |
Residential [Member] | Real Estate Loans [Member] | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 600,564 | 580,561 |
Residential [Member] | Performing [Member] | Real Estate Loans [Member] | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 594,896 | 575,244 |
Residential [Member] | Nonperforming [Member] | Real Estate Loans [Member] | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 5,668 | 5,317 |
Construction [Member] | Real Estate Loans [Member] | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | 4,755 | 3,920 |
Construction [Member] | Performing [Member] | Real Estate Loans [Member] | Consumer Portfolio Segment [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total | $ 4,755 | $ 3,920 |
Loans Receivable, Net and Al_10
Loans Receivable, Net and Allowance for Loan Losses - Classes of Loan Portfolio Summarized by Aging Categories (Detail) - USD ($) $ in Thousands | Dec. 31, 2018 | Sep. 30, 2018 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | $ 1,330,932 | $ 1,301,224 |
31-60 Days Past Due | 3,574 | 3,818 |
61-89 Days Past Due | 1,077 | 951 |
Non-accrual | 9,416 | 8,964 |
Total Past Due | 14,067 | 13,733 |
Purchased Credit Impaired, Accruing | 253 | 255 |
Purchased Credit Impaired, Nonaccrual | 1,273 | 1,547 |
Total Loans | 1,346,525 | 1,316,759 |
Obligations of States and Political Subdivisions [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 75,041 | 73,362 |
Total Loans | 75,041 | 73,362 |
Home Equity Loans and Lines of Credit [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 42,621 | 43,716 |
31-60 Days Past Due | 65 | 30 |
61-89 Days Past Due | 47 | |
Non-accrual | 538 | 216 |
Total Past Due | 650 | 246 |
Total Loans | 43,271 | 43,962 |
Auto Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 125,573 | 144,140 |
31-60 Days Past Due | 1,981 | 1,473 |
61-89 Days Past Due | 78 | 20 |
Non-accrual | 584 | 587 |
Total Past Due | 2,643 | 2,080 |
Total Loans | 128,216 | 146,220 |
Other [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 2,812 | 2,647 |
31-60 Days Past Due | 30 | 17 |
61-89 Days Past Due | 11 | |
Non-accrual | 17 | 18 |
Total Past Due | 58 | 35 |
Total Loans | 2,870 | 2,682 |
Residential [Member] | Real Estate Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 592,486 | 572,236 |
31-60 Days Past Due | 1,485 | 2,088 |
61-89 Days Past Due | 925 | 920 |
Non-accrual | 5,668 | 5,317 |
Total Past Due | 8,078 | 8,325 |
Total Loans | 600,564 | 580,561 |
Construction [Member] | Real Estate Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 4,755 | 3,920 |
Total Loans | 4,755 | 3,920 |
Commercial [Member] | Real Estate Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 431,140 | 412,636 |
31-60 Days Past Due | 185 | |
Non-accrual | 1,977 | 1,951 |
Total Past Due | 1,977 | 2,136 |
Purchased Credit Impaired, Accruing | 253 | 255 |
Purchased Credit Impaired, Nonaccrual | 1,057 | 1,546 |
Total Loans | 434,427 | 416,573 |
Commercial Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 56,504 | 48,567 |
31-60 Days Past Due | 13 | 25 |
61-89 Days Past Due | 16 | 11 |
Non-accrual | 632 | 875 |
Total Past Due | 661 | 911 |
Purchased Credit Impaired, Nonaccrual | 216 | 1 |
Total Loans | $ 57,381 | $ 49,479 |
Loans Receivable, Net and Al_11
Loans Receivable, Net and Allowance for Loan Losses - Summary of Primary Segments of ALL (Detail) - USD ($) $ in Thousands | 3 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2018 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Balance, Beginning of period | $ 11,688 | $ 9,365 | |
Charge-offs | (532) | (719) | |
Recoveries | 189 | 187 | |
Provision | 876 | 1,000 | |
Balance, End of period | 12,221 | 9,833 | |
Individually evaluated for impairment | 326 | $ 313 | |
Collectively evaluated for impairment | 11,895 | 11,375 | |
Commercial Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Balance, Beginning of period | 1,462 | 987 | |
Charge-offs | (22) | (133) | |
Recoveries | 10 | ||
Provision | 264 | 190 | |
Balance, End of period | 1,704 | 1,054 | |
Collectively evaluated for impairment | 1,704 | 1,462 | |
Unallocated [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Balance, Beginning of period | 627 | 144 | |
Provision | 293 | (131) | |
Balance, End of period | 920 | 13 | |
Collectively evaluated for impairment | 920 | 627 | |
Real Estate Loans [Member] | Residential [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Balance, Beginning of period | 3,605 | 3,878 | |
Charge-offs | (142) | (43) | |
Recoveries | 6 | 3 | |
Provision | 276 | (69) | |
Balance, End of period | 3,745 | 3,769 | |
Individually evaluated for impairment | 154 | 149 | |
Collectively evaluated for impairment | 3,591 | 3,456 | |
Real Estate Loans [Member] | Construction [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Balance, Beginning of period | 35 | 23 | |
Provision | 8 | 10 | |
Balance, End of period | 43 | 33 | |
Collectively evaluated for impairment | 43 | 35 | |
Real Estate Loans [Member] | Commercial [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Balance, Beginning of period | 3,458 | 1,758 | |
Charge-offs | (1) | ||
Recoveries | 2 | ||
Provision | 38 | 560 | |
Balance, End of period | 3,496 | 2,319 | |
Collectively evaluated for impairment | 3,496 | 3,458 | |
Obligations of States and Political Subdivisions [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Balance, Beginning of period | 323 | 248 | |
Provision | (28) | (35) | |
Balance, End of period | 295 | 213 | |
Collectively evaluated for impairment | 295 | 323 | |
Home Equity Loans and Lines of Credit [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Balance, Beginning of period | 296 | 470 | |
Recoveries | 1 | 1 | |
Provision | 1 | (22) | |
Balance, End of period | 298 | 449 | |
Individually evaluated for impairment | 8 | ||
Collectively evaluated for impairment | 290 | 296 | |
Auto Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Balance, Beginning of period | 1,859 | 1,836 | |
Charge-offs | (368) | (536) | |
Recoveries | 181 | 170 | |
Provision | 22 | 492 | |
Balance, End of period | 1,694 | 1,962 | |
Individually evaluated for impairment | 164 | 164 | |
Collectively evaluated for impairment | 1,530 | 1,695 | |
Other [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Balance, Beginning of period | 23 | 21 | |
Charge-offs | (6) | ||
Recoveries | 1 | 1 | |
Provision | 2 | 5 | |
Balance, End of period | 26 | $ 21 | |
Collectively evaluated for impairment | $ 26 | $ 23 |
Loans Receivable, Net and Al_12
Loans Receivable, Net and Allowance for Loan Losses - Summary of Troubled Debt Restructuring Granted (Detail) $ in Thousands | 3 Months Ended | |
Dec. 31, 2018USD ($)Contract | Dec. 31, 2017USD ($)Contract | |
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | Contract | 5 | 2 |
Real Estate Loans [Member] | Residential [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | Contract | 2 | 2 |
Pre-Modification Outstanding Recorded Investment | $ 95 | $ 243 |
Post-Modification Outstanding Recorded Investment | $ 95 | $ 240 |
Home Equity Loans and Lines of Credit [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | Contract | 2 | |
Pre-Modification Outstanding Recorded Investment | $ 159 | |
Post-Modification Outstanding Recorded Investment | $ 159 | |
Auto Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | Contract | 1 | |
Pre-Modification Outstanding Recorded Investment | $ 21 | |
Post-Modification Outstanding Recorded Investment | $ 21 | |
Troubled Debt Restructurings [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | Contract | 5 | 2 |
Pre-Modification Outstanding Recorded Investment | $ 275 | $ 243 |
Post-Modification Outstanding Recorded Investment | $ 275 | $ 240 |
Deposits - Schedule of Deposits
Deposits - Schedule of Deposits by Major Classifications (Detail) - USD ($) $ in Thousands | Dec. 31, 2018 | Sep. 30, 2018 |
Banking And Thrift [Abstract] | ||
Non-interest bearing demand accounts | $ 162,129 | $ 158,340 |
Interest bearing demand accounts | 198,320 | 221,327 |
Money market accounts | 317,828 | 296,078 |
Savings and club accounts | 135,837 | 135,862 |
Certificates of deposit | 493,803 | 525,248 |
Total | $ 1,307,917 | $ 1,336,855 |
Net Periodic Benefit Cost-Def_3
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, 2018 | Dec. 31, 2017 | |
Compensation Related Costs [Abstract] | ||
Interest Cost | $ 174 | $ 174 |
Expected return on plan assets | (293) | (298) |
Net periodic benefit cost | $ (119) | $ (124) |
Equity Incentive Plan - Additio
Equity Incentive Plan - Additional Information (Detail) - USD ($) | 3 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Mar. 02, 2016 | |
Compensation Related Costs Disclosure [Line Items] | |||
Share-based compensation expense | $ 252,000 | $ 80,000 | |
2007 Equity Incentive Plan [Member] | |||
Compensation Related Costs Disclosure [Line Items] | |||
Common stock issuance, Grant | 2,377,326 | ||
Further number of shares, grants | 0 | ||
2016 Plan [Member] | |||
Compensation Related Costs Disclosure [Line Items] | |||
Common stock issuance, Grant | 250,000 | ||
Stock Option [Member] | |||
Compensation Related Costs Disclosure [Line Items] | |||
Common stock issuance, Grant | 1,698,090 | ||
Restricted Stock [Member] | |||
Compensation Related Costs Disclosure [Line Items] | |||
Share-based compensation expense | $ 252,000 | $ 80,000 | |
Expected future expense | $ 840,000 | ||
Remaining vesting periods | 3 years 9 months | ||
Restricted Stock [Member] | Minimum [Member] | |||
Compensation Related Costs Disclosure [Line Items] | |||
Restricted shares vesting period | 18 months | ||
Restricted Stock [Member] | Maximum [Member] | |||
Compensation Related Costs Disclosure [Line Items] | |||
Restricted shares vesting period | 45 months | ||
Restricted Stock [Member] | 2007 Equity Incentive Plan [Member] | |||
Compensation Related Costs Disclosure [Line Items] | |||
Common stock issuance, Grant | 679,236 |
Equity Incentive Plan - Schedul
Equity Incentive Plan - Schedule of Restricted Stock Option Activity (Detail) - Restricted Stock [Member] | 3 Months Ended |
Dec. 31, 2018$ / sharesshares | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Number of Restricted Stock, Nonvested at September 30, 2018 | shares | 35,072 |
Number of Restricted Stock, Granted | shares | 37,236 |
Number of Restricted Stock, Vested | shares | (625) |
Number of Restricted Stock, Forfeited | shares | (3,937) |
Number of Restricted Stock, Nonvested at December 31, 2018 | shares | 67,746 |
Weighted-average Grant Date Fair Value, Nonvested at September 30, 2018 | $ / shares | $ 15.37 |
Weighted-average Grant Date Fair Value, Granted | $ / shares | 16.23 |
Weighted-average Grant Date Fair Value, Vested | $ / shares | 15 |
Weighted-average Grant Date Fair Value, Forfeited | $ / shares | 15.87 |
Weighted-average Grant Date Fair Value, Nonvested at December 31, 2018 | $ / shares | $ 15.94 |
Fair Value - Schedule of Fair V
Fair Value - Schedule of Fair Value For Assets Required to be Measured and Reported at Fair Value on a Recurring Basis (Detail) - USD ($) $ in Thousands | Dec. 31, 2018 | Sep. 30, 2018 |
Investment securities available for sale: | ||
Total Debt Securities | $ 376,054 | $ 371,438 |
Equity securities- financial services | 18 | 20 |
Derivatives and hedging activities: | 1,832 | 2,595 |
Fair Value, Measurements, Recurring [Member] | ||
Investment securities available for sale: | ||
Total Debt Securities | 376,054 | 371,438 |
Equity securities- financial services | 18 | 20 |
Derivatives and hedging activities: | 1,511 | 2,452 |
Fair Value, Measurements, Recurring [Member] | Mortgage-Backed Securities [Member] | ||
Investment securities available for sale: | ||
Total Debt Securities | 267,993 | 258,123 |
Fair Value, Measurements, Recurring [Member] | Obligations of States and Political Subdivisions [Member] | ||
Investment securities available for sale: | ||
Total Debt Securities | 32,924 | 40,949 |
Fair Value, Measurements, Recurring [Member] | U.S. Government Agency Securities [Member] | ||
Investment securities available for sale: | ||
Total Debt Securities | 9,789 | 5,558 |
Fair Value, Measurements, Recurring [Member] | Corporate Obligations [Member] | ||
Investment securities available for sale: | ||
Total Debt Securities | 46,844 | 47,415 |
Fair Value, Measurements, Recurring [Member] | Other Debt Securities [Member] | ||
Investment securities available for sale: | ||
Total Debt Securities | 18,504 | 19,373 |
Fair Value, Measurements, Recurring [Member] | Level I [Member] | ||
Investment securities available for sale: | ||
Total Debt Securities | 20 | |
Equity securities- financial services | 18 | 20 |
Fair Value, Measurements, Recurring [Member] | Level II [Member] | ||
Investment securities available for sale: | ||
Total Debt Securities | 368,412 | 363,680 |
Derivatives and hedging activities: | 1,511 | 2,452 |
Fair Value, Measurements, Recurring [Member] | Level II [Member] | Mortgage-Backed Securities [Member] | ||
Investment securities available for sale: | ||
Total Debt Securities | 267,993 | 258,123 |
Fair Value, Measurements, Recurring [Member] | Level II [Member] | Obligations of States and Political Subdivisions [Member] | ||
Investment securities available for sale: | ||
Total Debt Securities | 32,924 | 40,949 |
Fair Value, Measurements, Recurring [Member] | Level II [Member] | U.S. Government Agency Securities [Member] | ||
Investment securities available for sale: | ||
Total Debt Securities | 9,789 | 5,558 |
Fair Value, Measurements, Recurring [Member] | Level II [Member] | Corporate Obligations [Member] | ||
Investment securities available for sale: | ||
Total Debt Securities | 39,202 | 39,677 |
Fair Value, Measurements, Recurring [Member] | Level II [Member] | Other Debt Securities [Member] | ||
Investment securities available for sale: | ||
Total Debt Securities | 18,504 | 19,373 |
Fair Value, Measurements, Recurring [Member] | Level III [Member] | ||
Investment securities available for sale: | ||
Total Debt Securities | 7,642 | 7,738 |
Fair Value, Measurements, Recurring [Member] | Level III [Member] | Corporate Obligations [Member] | ||
Investment securities available for sale: | ||
Total Debt Securities | $ 7,642 | $ 7,738 |
Fair Value - Schedule of Change
Fair Value - Schedule of Changes in Fair Value of Level III Investments (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Fair Value Disclosures [Abstract] | ||
Beginning balance | $ 7,738 | $ 7,224 |
Purchases, sales, issuances, settlements, net | 500 | |
Total unrealized gain (loss): | ||
Included in other comprehensive (loss) income | (96) | 102 |
Ending balance | $ 7,642 | $ 7,826 |
Fair Value - Schedule of Fair_2
Fair Value - Schedule of Fair Value For Assets Required to be Measured and Reported at Fair Value on a Nonrecurring Basis (Detail) - USD ($) $ in Thousands | Dec. 31, 2018 | Sep. 30, 2018 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Foreclosed real estate | $ 876 | $ 1,141 |
Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Foreclosed real estate | 876 | 1,141 |
Impaired loans | 7,570 | 11,557 |
Level III [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Foreclosed real estate | 876 | 1,141 |
Impaired loans | $ 7,570 | $ 11,557 |
Fair Value - Summary of Additio
Fair Value - Summary of Additional Quantitative Information about Assets Measured at Fair Value on Nonrecurring Basis (Detail) - Fair Value, Measurements, Nonrecurring [Member] - Level III [Member] $ in Thousands | Dec. 31, 2018USD ($) | Sep. 30, 2018USD ($) |
Impaired Loans [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value Estimate | $ 7,570 | $ 11,557 |
Servicing Asset Valuation Technique Extensible List | essa:AppraisalOfCollateralMember | essa:AppraisalOfCollateralMember |
Servicing Asset, Measurement Input [Extensible List] | essa:AppraisalAdjustmentsMember | essa:AppraisalAdjustmentsMember |
Fair value input appraisal adjustments | 0.210 | 0.253 |
Impaired Loans [Member] | Minimum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value input appraisal adjustments | 0 | 0 |
Impaired Loans [Member] | Maximum [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value input appraisal adjustments | 0.35 | 0.35 |
Foreclosed Real Estate Owned [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair Value Estimate | $ 876 | $ 1,141 |
Servicing Asset Valuation Technique Extensible List | essa:AppraisalOfCollateralMember | essa:AppraisalOfCollateralMember |
Servicing Asset, Measurement Input [Extensible List] | essa:AppraisalAdjustmentsMember | essa:AppraisalAdjustmentsMember |
Fair value input appraisal adjustments | 0.261 | 0.221 |
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 | 0.20 | 0.20 |
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 | 0.46 | 0.46 |
Fair Value - Additional Informa
Fair Value - Additional Information (Detail) $ in Thousands | 3 Months Ended | 12 Months Ended |
Dec. 31, 2018USD ($)Loan | Sep. 30, 2018USD ($)Loan | |
Fair Value Disclosures [Abstract] | ||
Number of impaired loans | Loan | 137 | 133 |
Impaired loans, carrying value | $ 7,900 | $ 11,900 |
Impaired loans, valuation allowance | 326 | 313 |
Impaired loans, net fair value | $ 7,600 | $ 11,600 |
Fair Value - Schedule of Assets
Fair Value - Schedule of Assets and Liabilities not Required to be Measured and Reported at Fair Value (Detail) - USD ($) $ in Thousands | Dec. 31, 2018 | Sep. 30, 2018 |
Financial assets: | ||
Loans receivable, net | $ 7,600 | $ 11,600 |
Bank-owned life insurance | 38,874 | 38,630 |
Financial liabilities: | ||
Other borrowings | 112,373 | 118,723 |
Advances by borrowers for taxes and insurance | 8,435 | 6,826 |
Carrying Value [Member] | ||
Financial assets: | ||
Cash and cash equivalents | 39,650 | 43,539 |
Certificates of deposit | 500 | 500 |
Loans receivable, net | 1,334,304 | 1,305,071 |
Accrued interest receivable | 6,261 | 6,640 |
Regulatory stock | 15,121 | 12,973 |
Mortgage servicing rights | 200 | 206 |
Bank-owned life insurance | 38,874 | 38,630 |
Financial liabilities: | ||
Deposits | 1,307,917 | 1,336,855 |
Short-term borrowings | 239,824 | 179,773 |
Other borrowings | 112,373 | 118,723 |
Advances by borrowers for taxes and insurance | 8,435 | 6,826 |
Accrued interest payable | 1,488 | 1,369 |
Estimated Fair Value [Member] | ||
Financial assets: | ||
Cash and cash equivalents | 39,650 | 43,539 |
Certificates of deposit | 500 | 505 |
Loans receivable, net | 1,297,473 | 1,269,127 |
Accrued interest receivable | 6,261 | 6,640 |
Regulatory stock | 15,121 | 12,973 |
Mortgage servicing rights | 336 | 340 |
Bank-owned life insurance | 38,874 | 38,630 |
Financial liabilities: | ||
Deposits | 1,304,308 | 1,332,468 |
Short-term borrowings | 239,824 | 179,773 |
Other borrowings | 111,904 | 117,920 |
Advances by borrowers for taxes and insurance | 8,435 | 6,826 |
Accrued interest payable | 1,488 | 1,369 |
Estimated Fair Value [Member] | Level 1 [Member] | ||
Financial assets: | ||
Cash and cash equivalents | 39,650 | 43,539 |
Accrued interest receivable | 6,261 | 6,640 |
Regulatory stock | 15,121 | 12,973 |
Bank-owned life insurance | 38,874 | 38,630 |
Financial liabilities: | ||
Deposits | 814,114 | 811,607 |
Short-term borrowings | 239,824 | 179,773 |
Advances by borrowers for taxes and insurance | 8,435 | 6,826 |
Accrued interest payable | 1,488 | 1,369 |
Estimated Fair Value [Member] | Level 3 [Member] | ||
Financial assets: | ||
Certificates of deposit | 500 | 505 |
Loans receivable, net | 1,297,473 | 1,269,127 |
Mortgage servicing rights | 336 | 340 |
Financial liabilities: | ||
Deposits | 490,194 | 520,861 |
Other borrowings | $ 111,904 | $ 117,920 |
Accumulated Other Comprehensi_3
Accumulated Other Comprehensive Loss - Summary of Activity in Accumulated Other Comprehensive Loss (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Accumulated Other Comprehensive Income Loss [Line Items] | ||
Beginning Balance | $ 179,186 | $ 182,727 |
Other comprehensive income (loss) before reclassifications | 3,418 | (987) |
Amounts reclassified from accumulated other comprehensive loss, net of tax | (174) | (15) |
Total other comprehensive income (loss) | 3,248 | (1,002) |
Ending Balance | 184,775 | 179,479 |
ASU 2016-01 [Member] | ||
Accumulated Other Comprehensive Income Loss [Line Items] | ||
Change in accounting principal for adoption of ASU 2016-01 | 4 | |
Defined Benefit Pension Plan [Member] | ||
Accumulated Other Comprehensive Income Loss [Line Items] | ||
Beginning Balance | (477) | (628) |
Ending Balance | (477) | (628) |
Unrealized Gains (Losses) on Securities Available for Sale [Member] | ||
Accumulated Other Comprehensive Income Loss [Line Items] | ||
Beginning Balance | (11,369) | (927) |
Other comprehensive income (loss) before reclassifications | 3,991 | (1,288) |
Amounts reclassified from accumulated other comprehensive loss, net of tax | (3) | |
Total other comprehensive income (loss) | 3,992 | (1,288) |
Ending Balance | (7,377) | (2,215) |
Unrealized Gains (Losses) on Securities Available for Sale [Member] | ASU 2016-01 [Member] | ||
Accumulated Other Comprehensive Income Loss [Line Items] | ||
Change in accounting principal for adoption of ASU 2016-01 | 4 | |
Derivatives [Member] | ||
Accumulated Other Comprehensive Income Loss [Line Items] | ||
Beginning Balance | 1,936 | 801 |
Other comprehensive income (loss) before reclassifications | (573) | 301 |
Amounts reclassified from accumulated other comprehensive loss, net of tax | (171) | (15) |
Total other comprehensive income (loss) | (744) | 286 |
Ending Balance | 1,192 | 1,087 |
Accumulated Other Comprehensive Loss [Member] | ||
Accumulated Other Comprehensive Income Loss [Line Items] | ||
Beginning Balance | (9,910) | (754) |
Ending Balance | $ (6,662) | $ (1,756) |
Accumulated Other Comprehensi_4
Accumulated Other Comprehensive Loss - Summary of Reclassification Out of Accumulated Other Comprehensive Income (Loss) (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Schedule of Available-for-sale Securities [Line Items] | ||
Gain on sale of investments, net | $ 4 | |
Interest expense | (4,984) | $ (3,608) |
Income taxes | (474) | (4,093) |
Reclassification Out of Accumulated Other Comprehensive Income (Loss) [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Net of tax | 174 | 15 |
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, net | 4 | |
Income taxes | (1) | |
Net of tax | 3 | |
Reclassification Out of Accumulated Other Comprehensive Income (Loss) [Member] | Derivatives [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Interest expense | 217 | 23 |
Income taxes | (46) | (8) |
Net of tax | $ 171 | $ 15 |
Derivatives And Hedging Activ_2
Derivatives And Hedging Activities - Schedule of Fair Value of Derivative Financial Instruments as well as their Classification on Consolidated Balance Sheet (Detail) - USD ($) | Dec. 31, 2018 | Sep. 30, 2018 |
Derivatives Fair Value [Line Items] | ||
Fair Values of Derivative Instruments, Asset | $ 1,832,000 | $ 2,595,000 |
Fair Values of Derivative Instruments, Liability | 145,000 | |
Designated as Hedging Instrument [Member] | Interest Rate Products [Member] | ||
Derivatives Fair Value [Line Items] | ||
Derivatives, Notional Amount | 100,000,000 | |
Designated as Hedging Instrument [Member] | Interest Rate Products [Member] | Other Assets [Member] | ||
Derivatives Fair Value [Line Items] | ||
Fair Values of Derivative Instruments, Asset | 1,832,000 | $ 2,595,000 |
Designated as Hedging Instrument [Member] | Interest Rate Products [Member] | Other Liabilities [Member] | ||
Derivatives Fair Value [Line Items] | ||
Fair Values of Derivative Instruments, Liability | $ 145,000 |
Derivatives and Hedging Activ_3
Derivatives and Hedging Activities - Additional Information (Detail) | 3 Months Ended | 12 Months Ended | ||
Dec. 31, 2018USD ($)ContractDerivative | Dec. 31, 2017USD ($) | Dec. 31, 2019USD ($) | Sep. 30, 2018USD ($)Derivative | |
Derivative Instruments And Hedging Activities Disclosures [Line Items] | ||||
Interest income | $ 16,869,000 | $ 15,376,000 | ||
Increase (decrease) in accrued interest payable | 119,000 | 184,000 | ||
Derivative liabilities | $ 0 | $ 0 | ||
Number of derivatives in a net liability position | Derivative | 0 | 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 income | $ 217,000 | $ 23,000 | ||
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 | $ 967,000 | |||
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 | 4 | |||
Derivative, notional principal amount | $ 100,000,000 |
Derivatives and Hedging Activ_4
Derivatives and Hedging Activities - Schedule of Effect of Cash Flow Hedge Accounting on Accumulated Other Comprehensive Income (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Derivative Instruments Gain Loss [Line Items] | ||
Amount of (Loss) Gain Recognized in OCI on Derivative | $ (725) | $ 457 |
Designated as Hedging Instrument [Member] | Cash Flow Hedges of Interest Rate Risk [Member] | ||
Derivative Instruments Gain Loss [Line Items] | ||
Amount of (Loss) Gain Recognized in OCI on Derivative | (941) | 457 |
Amount of Gain Reclassified from Accumulated OCI into Income | 217 | 23 |
Designated as Hedging Instrument [Member] | Interest Rate Products [Member] | Cash Flow Hedges of Interest Rate Risk [Member] | ||
Derivative Instruments Gain Loss [Line Items] | ||
Amount of (Loss) Gain Recognized in OCI on Derivative | (941) | 457 |
Designated as Hedging Instrument [Member] | Interest Rate Products [Member] | Cash Flow Hedges of Interest Rate Risk [Member] | Interest Expense [Member] | ||
Derivative Instruments Gain Loss [Line Items] | ||
Amount of Gain Reclassified from Accumulated OCI into Income | $ 217 | $ 23 |
Derivatives and Hedging Activ_5
Derivatives and Hedging Activities - Schedule of Effect of Derivative Financial Instruments on Income Statement (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Derivative Instruments Gain Loss [Line Items] | ||
Total amounts of income and expense line items presented in the statement of financial performance in which the effects of fair value or cash flow hedges are recorded | $ (725) | $ 457 |
Designated as Hedging Instrument [Member] | Cash Flow Hedges of Interest Rate Risk [Member] | ||
Derivative Instruments Gain Loss [Line Items] | ||
Total amounts of income and expense line items presented in the statement of financial performance in which the effects of fair value or cash flow hedges are recorded | (941) | 457 |
Amount of gain reclassified from accumulated other comprehensive income into income | 217 | 23 |
Designated as Hedging Instrument [Member] | Cash Flow Hedges of Interest Rate Risk [Member] | Interest Rate Products [Member] | ||
Derivative Instruments Gain Loss [Line Items] | ||
Total amounts of income and expense line items presented in the statement of financial performance in which the effects of fair value or cash flow hedges are recorded | (941) | 457 |
Designated as Hedging Instrument [Member] | Interest Income (Expense) [Member] | Cash Flow Hedges of Interest Rate Risk [Member] | Interest Rate Products [Member] | ||
Derivative Instruments Gain Loss [Line Items] | ||
Total amounts of income and expense line items presented in the statement of financial performance in which the effects of fair value or cash flow hedges are recorded | 217 | 23 |
Amount of gain reclassified from accumulated other comprehensive income into income | 217 | 23 |
Designated as Hedging Instrument [Member] | Other Income (Expense) [Member] | Cash Flow Hedges of Interest Rate Risk [Member] | Interest Rate Products [Member] | ||
Derivative Instruments Gain Loss [Line Items] | ||
Total amounts of income and expense line items presented in the statement of financial performance in which the effects of fair value or cash flow hedges are recorded | 0 | 0 |
Amount of gain reclassified from accumulated other comprehensive income into income | $ 0 | $ 0 |
Derivatives and Hedging Activ_6
Derivatives and Hedging Activities - Schedule of Gross Presentation, Effects of Offsetting and Net Presentation of Derivatives (Detail) - USD ($) $ in Thousands | Dec. 31, 2018 | Sep. 30, 2018 |
Derivative Instruments And Hedging Activities Disclosure [Abstract] | ||
Derivative Assets, Gross Amounts of Recognized Assets | $ 1,832 | $ 2,595 |
Derivative Assets, Net Amounts of Assets presented in the Statement of Financial Position | 1,832 | 2,595 |
Derivative Assets, Financial Instruments | (145) | |
Derivative Assets, Cash Collateral Received | 1,687 | 2,540 |
Derivative Assets, Net Amount | 55 | |
Derivative Liabilities, Gross Amounts of Recognized Assets | 145 | |
Derivative Liabilities, Net Amounts of Liabilities presented in the Statement of Financial Position | 145 | |
Derivative Liabilities, Financial Instruments | (145) | |
Derivative Liabilities, Net Amount | $ 0 | $ 0 |
Contingent Liabilities - Additi
Contingent Liabilities - Additional Information (Detail) | Dec. 08, 2016Plaintiff |
Commitments And Contingencies Disclosure [Abstract] | |
Number of plaintiffs | 1 |
Revenue Recognition - Additiona
Revenue Recognition - Additional Information (Detail) | Oct. 01, 2018 |
Revenue From Contract With Customer [Abstract] | |
Percentage of cummulative revenue out of scope to 2014-09 | 90.30% |