Document_and_Entity_Informatio
Document and Entity Information | 6 Months Ended | |
Dec. 31, 2013 | Feb. 05, 2014 | |
Document And Entity Information [Abstract] | ' | ' |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 31-Dec-13 | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q2 | ' |
Trading Symbol | 'SMPL | ' |
Entity Registrant Name | 'Simplicity Bancorp, Inc. | ' |
Entity Central Index Key | '0001412109 | ' |
Current Fiscal Year End Date | '--06-30 | ' |
Entity Filer Category | 'Accelerated Filer | ' |
Entity Common Stock, Shares Outstanding | ' | 7,621,627 |
Consolidated_Statements_of_Fin
Consolidated Statements of Financial Condition (USD $) | Dec. 31, 2013 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | ||
ASSETS | ' | ' |
Cash and due from banks | $9,035 | $8,864 |
Federal funds sold | 48,610 | 76,810 |
Total cash and cash equivalents | 57,645 | 85,674 |
Securities available-for-sale, at fair value | 45,251 | 52,180 |
Securities held-to-maturity, fair value of $456 and $541 at December 31, 2013 and June 30, 2013, respectively | 444 | 525 |
Federal Home Loan Bank stock, at cost | 5,902 | 5,902 |
Loans held for sale | 2,141 | 4,496 |
Loans receivable, net of allowance for loan losses of $5,039 and $5,643 at December 31, 2013 and June 30, 2013, respectively | 714,711 | 689,708 |
Accrued interest receivable | 2,326 | 2,439 |
Premises and equipment, net | 3,893 | 3,799 |
Goodwill | 3,950 | 3,950 |
Bank-owned life insurance | 14,003 | 13,784 |
Real estate owned (REO) | 284 | ' |
Other assets | 4,381 | 4,920 |
Total assets | 854,931 | 867,377 |
Deposits | ' | ' |
Noninterest bearing | 62,894 | 65,694 |
Interest bearing | 561,584 | 588,952 |
Total deposits | 624,478 | 654,646 |
Federal Home Loan Band advances, short-term | 20,000 | ' |
Federal Home Loan Bank advances, long-term | 65,000 | 60,000 |
Accrued expenses and other liabilities | 4,355 | 7,293 |
Total liabilities | 713,833 | 721,939 |
Stockholders’ equity | ' | ' |
Nonredeemable serial preferred stock, $.01 par value; 25,000,000 shares authorized; issued and outstanding — none | ' | ' |
Common stock, $0.01 par value; 100,000,000 authorized; | 78 | 81 |
Additional paid-in capital | 74,126 | 79,800 |
Retained earnings | 71,596 | 70,326 |
Accumulated other comprehensive loss, net of tax | -631 | -491 |
Unearned employee stock ownership plan (ESOP) shares | -4,071 | -4,278 |
Total stockholders’ equity | 141,098 | 145,438 |
Total liabilities and stockholders’ equity | $854,931 | $867,377 |
Consolidated_Statements_of_Fin1
Consolidated Statements of Financial Condition (Parenthetical) (USD $) | Dec. 31, 2013 | Jun. 30, 2013 |
In Thousands, except Share data, unless otherwise specified | ||
Statement of Financial Position [Abstract] | ' | ' |
Securities held-to-maturity, fair value | $456 | $541 |
Loans receivable, allowance for loan losses | $5,039 | $5,643 |
Nonredeemable serial preferred stock, par value | $0.01 | $0.01 |
Nonredeemable serial preferred stock, shares authorized | 25,000,000 | 25,000,000 |
Nonredeemable serial preferred stock, issued | ' | ' |
Nonredeemable serial preferred stock, outstanding | ' | ' |
Common stock, par value | $0.01 | $0.01 |
Common stock, authorized | 100,000,000 | 100,000,000 |
Common stock, shares issued | 7,998,265 | 8,121,415 |
Common stock, shares outstanding | 7,998,265 | 8,121,415 |
Consolidated_Statements_of_Inc
Consolidated Statements of Income (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 |
Interest income | ' | ' | ' | ' |
Interest and fees on loans | $8,016 | $8,895 | $16,034 | $18,612 |
Interest on securities, taxable | 179 | 88 | 346 | 169 |
Federal Home Loan Bank dividends | 84 | 57 | 164 | 68 |
Other interest | 22 | 49 | 51 | 81 |
Total interest income | 8,301 | 9,089 | 16,595 | 18,930 |
Interest expense | ' | ' | ' | ' |
Interest on deposits | 1,280 | 1,671 | 2,671 | 3,420 |
Interest on borrowings | 287 | 428 | 536 | 897 |
Total interest expense | 1,567 | 2,099 | 3,207 | 4,317 |
Net interest income | 6,734 | 6,990 | 13,388 | 14,613 |
Provision for Loan Losses Expensed | -300 | 600 | -300 | 1,450 |
Net interest income after provision for loan losses | 7,034 | 6,390 | 13,688 | 13,163 |
Noninterest income | ' | ' | ' | ' |
Service charges and fees | 521 | 440 | 988 | 849 |
ATM fees and charges | 503 | 529 | 1,020 | 1,055 |
Referral commissions | 95 | 78 | 179 | 167 |
Bank-owned life insurance | 110 | 115 | 219 | 231 |
Net gain on sales of loans | 145 | 903 | 330 | 1,327 |
Other noninterest income | 20 | 4 | 117 | 8 |
Total noninterest income | 1,394 | 2,069 | 2,853 | 3,637 |
Noninterest expense | ' | ' | ' | ' |
Salaries and benefits | 3,122 | 3,465 | 6,138 | 6,688 |
Occupancy and equipment | 723 | 727 | 1,509 | 1,440 |
ATM expense | 550 | 583 | 1,128 | 1,104 |
Advertising and promotional | 337 | 281 | 619 | 413 |
Professional services | 602 | 551 | 1,158 | 1,046 |
Federal deposit insurance premiums | 117 | 160 | 249 | 313 |
Postage | 52 | 71 | 104 | 134 |
Telephone | 207 | 220 | 402 | 447 |
Loss on equity investment | 75 | 55 | 136 | 107 |
REO foreclosure expenses and sales (gains)/losses, net | -13 | 1 | 15 | -15 |
Electronic services | 123 | 111 | 248 | 211 |
Other operating expense | 388 | 520 | 866 | 999 |
Total noninterest expense | 6,283 | 6,745 | 12,572 | 12,887 |
Income before income tax expense | 2,145 | 1,714 | 3,969 | 3,913 |
Income tax expense | 805 | 607 | 1,480 | 1,413 |
Net income | $1,340 | $1,107 | $2,489 | $2,500 |
Earnings per common share: | ' | ' | ' | ' |
Basic (in usd per share) | $0.18 | $0.13 | $0.33 | $0.30 |
Diluted (in usd per share) | $0.18 | $0.13 | $0.33 | $0.30 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 |
Statement of Comprehensive Income [Abstract] | ' | ' | ' | ' |
Net income | $1,340 | $1,107 | $2,489 | $2,500 |
Other comprehensive income (loss): | ' | ' | ' | ' |
Unrealized (loss) gain on securities available for sale | -330 | 11 | -237 | 230 |
Postretirement medical benefit costs | ' | ' | ' | ' |
Net loss arising during the period | -17 | -24 | -35 | -48 |
Amounts reclassified from accumulated other comprehensive income | 17 | 24 | 35 | 48 |
Tax effect of current period changes | 135 | -5 | 97 | -95 |
Other comprehensive (loss) income, net of tax | -195 | 6 | -140 | 135 |
Comprehensive income | $1,145 | $1,113 | $2,349 | $2,635 |
Consolidated_Statements_of_Sto
Consolidated Statements of Stockholders' Equity (USD $) | Total | Common Stock | Additional Paid-in Capital | Retained Earnings | Accumulated Other Comprehensive Loss, Net | Unearned ESOP Shares |
In Thousands, except Share data, unless otherwise specified | ||||||
Beginning Balance at Jun. 30, 2012 | $154,148 | $90 | $92,197 | $66,723 | ($169) | ($4,693) |
Beginning Balance (in shares) at Jun. 30, 2012 | ' | 8,960,366 | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' |
Net income | 2,500 | ' | ' | 2,500 | ' | ' |
Other comprehensive income | 135 | ' | ' | ' | 135 | ' |
Dividends declared ($0.16 per share) | -1,350 | ' | ' | -1,350 | ' | ' |
Repurchase of common stock (in shares) | ' | -436,770 | ' | ' | ' | ' |
Repurchase of common stock | -6,528 | -4 | -6,524 | ' | ' | ' |
Stock options earned | 19 | ' | 19 | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | ' | 4,000 | ' | ' | ' | ' |
Stock Issued During Period, Value, Stock Options Exercised | 43 | ' | 43 | ' | ' | ' |
Allocation of stock awards | 133 | ' | 133 | ' | ' | ' |
Issuance of stock awards | ' | 27,259 | ' | ' | ' | ' |
Forfeiture of stock awards (in shares) | ' | -6,765 | ' | ' | ' | ' |
Forfeiture of stock awards | ' | ' | ' | ' | ' | ' |
Allocation of ESOP common stock (20,710 shares allocated) | 309 | ' | 102 | ' | ' | 207 |
Ending Balance at Dec. 31, 2012 | 149,409 | 86 | 85,970 | 67,873 | -34 | -4,486 |
Ending Balance (in shares) at Dec. 31, 2012 | ' | 8,548,090 | ' | ' | ' | ' |
Beginning Balance at Jun. 30, 2013 | 145,438 | 81 | 79,800 | 70,326 | -491 | -4,278 |
Beginning Balance (in shares) at Jun. 30, 2013 | ' | 8,121,415 | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' |
Net income | 2,489 | ' | ' | 2,489 | ' | ' |
Other comprehensive income | -140 | ' | ' | ' | -140 | ' |
Dividends declared ($0.16 per share) | -1,219 | ' | ' | -1,219 | ' | ' |
Repurchase of common stock (in shares) | -383,979 | -383,979 | ' | ' | ' | ' |
Repurchase of common stock | -5,966 | -3 | -5,963 | ' | ' | ' |
Stock options earned | 18 | ' | 18 | ' | ' | ' |
Allocation of stock awards | 159 | ' | 159 | ' | ' | ' |
Issuance of stock awards | ' | 25,425 | ' | ' | ' | ' |
Allocation of ESOP common stock (20,710 shares allocated) | 319 | ' | 112 | ' | ' | 207 |
Ending Balance at Dec. 31, 2013 | $141,098 | $78 | $74,126 | $71,596 | ($631) | ($4,071) |
Ending Balance (in shares) at Dec. 31, 2013 | ' | 7,762,861 | ' | ' | ' | ' |
Consolidated_Statements_of_Sto1
Consolidated Statements of Stockholders' Equity (Parenthetical) (USD $) | 6 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Employee Stock Ownership Plan (ESOP), Number of Allocated Shares | 20,710 | 20,710 |
Dividends declared, per share | $0.16 | $0.16 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 6 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
OPERATING ACTIVITIES | ' | ' |
Net income | $2,489 | $2,500 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' |
Amortization of net premiums on securities | 195 | 439 |
Amortization of net premiums on loan purchases | 203 | 234 |
Amortization of net loan origination costs | 189 | 152 |
Provision (credit) for loan losses | -300 | 1,450 |
Net gain on sale of REO | -4 | -88 |
Net gain on sales of loans held for sale | -330 | -1,327 |
Loans originated for sale | -14,256 | -45,505 |
Proceeds from sales of loans held for sale | 17,027 | 33,015 |
Decrease in valuation allowance for loans held for sale | -86 | ' |
Depreciation and amortization | 634 | 514 |
Amortization of core deposit intangible | ' | 11 |
Loss on equity investment | 136 | 107 |
Increase in cash surrender value of bank-owned life insurance | -219 | -231 |
Allocation of ESOP common stock | 319 | 309 |
Allocation of stock awards | 159 | 133 |
Stock options earned | 18 | 19 |
Net change in accrued interest receivable | 113 | 205 |
Net change in other assets | 430 | 759 |
Net change in accrued expenses and other liabilities | -2,938 | -1,245 |
Net cash provided by (used in) operating activities | 3,779 | -8,549 |
INVESTING ACTIVITIES | ' | ' |
Purchase of available-for-sale securities | ' | -20,686 |
Proceeds from maturities and principal repayments of available-for-sale securities | 6,497 | 9,820 |
Proceeds from maturities and principal repayments of held-to-maturity securities | 81 | 432 |
Net change in loans | -25,634 | 55,118 |
Proceeds from sale of real estate owned | 329 | 1,367 |
Redemption of FHLB stock | ' | 1,190 |
Purchases of premises and equipment | -728 | -579 |
Net cash (used in) provided by investing activities | -19,455 | 46,662 |
FINANCING ACTIVITIES | ' | ' |
Proceeds from FHLB advances | 25,000 | ' |
Repayment of FHLB advances | ' | -20,000 |
Dividends paid on common stock | -1,219 | -1,350 |
Repurchase of common stock | -5,966 | -6,528 |
Net change in deposits | -30,168 | -7,902 |
Exercise of stock options | ' | 43 |
Net cash used in financing activities | -12,353 | -35,737 |
Net change in cash and cash equivalents | -28,029 | 2,376 |
Cash and cash equivalents at beginning of period | 85,674 | 66,018 |
Cash and cash equivalents at end of period | 57,645 | 68,394 |
SUPPLEMENTAL CASH FLOW INFORMATION | ' | ' |
Interest paid on deposits and borrowings | 3,214 | 4,327 |
Income taxes paid | 2,075 | 1,250 |
SUPPLEMENTAL NONCASH DISCLOSURES | ' | ' |
Transfer from loans to real estate owned | $539 | $521 |
Nature_of_Business_and_Signifi
Nature of Business and Significant Accounting Policies | 6 Months Ended |
Dec. 31, 2013 | |
Accounting Policies [Abstract] | ' |
Nature of Business and Significant Accounting Policies | ' |
Nature of Business and Significant Accounting Policies | |
Nature of Business: Simplicity Bancorp, Inc. (the “Company”), is a Maryland corporation that owns all of the outstanding common stock of Simplicity Bank (the “Bank”). In November, 2012, the Company changed its name to Simplicity Bancorp, Inc. from Kaiser Federal Financial Group, Inc. and its trading symbol to SMPL. Concurrently, the Bank was renamed Simplicity Bank from Kaiser Federal Bank as part of a broader business strategy to operate as a community bank serving the financial needs of all customers within its communities. The Company’s primary activity is holding all of the outstanding shares of common stock of Simplicity Bank. The Bank is a federally chartered savings bank headquartered in Covina, California. The Bank’s principal business activity consists of attracting retail deposits from the general public and originating or purchasing primarily loans secured by first mortgages on owner-occupied, one-to-four family residences and multi-family residences located in its market area, and to a lesser extent, commercial real estate, automobile and other consumer loans. The Bank also engages in mortgage banking activities and, as such, originates, sells and services one-to-four family residential mortgage loans. While the Bank originates many types of residential loans, the Bank also purchases, from time to time, using its own underwriting standards, first mortgages on owner-occupied, one-to-four family residences secured by properties located throughout California. | |
The Company’s business activities generally are limited to passive investment activities and oversight of its investment in the Bank. Unless the context otherwise requires, all references to the Company include the Bank and the Company on a consolidated basis. | |
Principles of Consolidation and Basis of Presentation: The financial statements of Simplicity Bancorp, Inc. have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”) and predominant practices followed by the financial services industry. The consolidated financial statements presented in this report include the accounts of Simplicity Bancorp, Inc. and its wholly-owned subsidiary, Simplicity Bank. All material intercompany balances and transactions have been eliminated in consolidation. In the opinion of the Company’s management, all adjustments consisting of normal recurring accruals necessary for a fair presentation of the financial condition and results of operations for the interim periods included herein have been made. | |
The results of operations for the three and six months ended December 31, 2013 are not necessarily indicative of the results of operations that may be expected for any other interim period or for the fiscal year ending June 30, 2014. Certain information and note disclosures normally included in the Company’s annual financial statements have been condensed or omitted. Therefore, these consolidated financial statements and notes thereto should be read in conjunction with the consolidated financial statements and notes included in the 2013 Annual Report on Form 10-K filed with the Securities and Exchange Commission. | |
Use of Estimates in the Preparation of Consolidated Financial Statements: The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of income and expenses during the reporting period. Changes in these estimates and assumptions are considered reasonably possible and may have a material impact on the consolidated financial statements and thus actual results could differ from the amounts reported and disclosed herein. Material estimates that are particularly susceptible to significant change in the near term relate to the determination of the allowance for loan losses, the valuation of real estate owned, mortgage servicing assets (“MSAs”), mortgage banking derivatives, deferred tax assets and fair values of financial instruments. | |
Recent Accounting Pronouncements: | |
Adoption of New Accounting Standards: | |
In February 2012, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2013-02, Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income. The amendments do not change the current requirements for reporting net income or other comprehensive income in financial statements. However, the amendments require an entity to provide information about the amounts reclassified out of accumulated other comprehensive income by component. In addition, an entity is required to present, either on the face of the statement where net income is presented or in the notes, significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net income but only if the amount reclassified is required under U.S. GAAP to be reclassified to net income in its entirety in the same reporting period. For other amounts that are not required under U.S. GAAP to be reclassified in their entirety to net income, an entity is required to cross-reference to other disclosures required under U.S. GAAP that provide additional detail about those amounts. For public entities, the amendments are effective prospectively for fiscal years, and interim periods within those years, beginning after December 15, 2012. The adoption of this guidance did not have a material effect on the Company’s result of operations or financial position. |
Earnings_Per_Share
Earnings Per Share | 6 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||||||
Earnings Per Share | ' | |||||||||||||||
Earnings Per Share | ||||||||||||||||
The following table sets forth earnings per share calculations for the three and six months ended December 31, 2013 and 2012: | ||||||||||||||||
Three months ended | Six months ended | |||||||||||||||
December 31, | December 31, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
(Dollars in thousands, except per share data) | ||||||||||||||||
Basic | ||||||||||||||||
Net income | $ | 1,340 | $ | 1,107 | $ | 2,489 | $ | 2,500 | ||||||||
Less: Net income allocated to restricted stock awards | 11 | 9 | 21 | 18 | ||||||||||||
Net income allocated to common shareholders | $ | 1,329 | $ | 1,098 | $ | 2,468 | $ | 2,482 | ||||||||
Weighted average common shares outstanding | 7,410,160 | 8,185,556 | 7,518,064 | 8,309,506 | ||||||||||||
Basic earnings per common share | $ | 0.18 | $ | 0.13 | $ | 0.33 | $ | 0.3 | ||||||||
Diluted | ||||||||||||||||
Net income | $ | 1,340 | $ | 1,107 | $ | 2,489 | $ | 2,500 | ||||||||
Less: Net income allocated to restricted stock awards | 11 | 9 | 21 | 18 | ||||||||||||
Net income allocated to common shareholders | $ | 1,329 | $ | 1,098 | $ | 2,468 | $ | 2,482 | ||||||||
Weighted average common shares outstanding | 7,410,160 | 8,185,556 | 7,518,064 | 8,309,506 | ||||||||||||
Add: Dilutive effect of stock options | 22,642 | 17,226 | 21,082 | 17,786 | ||||||||||||
Average shares and dilutive potential common shares | 7,432,802 | 8,202,782 | 7,539,146 | 8,327,292 | ||||||||||||
Diluted earnings per common share | $ | 0.18 | $ | 0.13 | $ | 0.33 | $ | 0.3 | ||||||||
The two-class method is used in the calculation of basic and diluted earnings per share. Under the two-class method, earnings per share is determined for each class of common stock and participating securities according to dividends declared (or accumulated) and participation rights in undistributed earnings. Restricted stock contains rights to non-forfeitable dividends and qualifies as a participating security. Employee Stock Ownership Plan (“ESOP”) shares are considered outstanding for this calculation unless unearned. For the three and six months ended December 31, 2013, 10,355 and 20,710 ESOP shares were allocated, respectively. 362,432 ESOP shares remained unearned at December 31, 2013 as compared to 403,853 ESOP shares remained unearned at December 31, 2012. | ||||||||||||||||
Basic earnings per common share is net income divided by the weighted average number of common shares outstanding during the period. Diluted earnings per common share includes the dilutive effect of additional potential common shares issuable under stock options. For the three and six months ended December 31, 2013, outstanding stock options to purchase 87,691 shares were anti-dilutive and not considered in computing diluted earnings per common share. For the three and six months ended December 31, 2012, outstanding stock options to purchase 188,521 shares and 188,125 shares, respectively, were anti-dilutive and not considered in computing diluted earnings per common share. Stock options are not considered participating securities as they do not contain rights to non-forfeitable dividends. |
Fair_Value_Measurements
Fair Value Measurements | 6 Months Ended | |||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||||||
Fair Value Measurements | ' | |||||||||||||||||||
Fair Value Measurements | ||||||||||||||||||||
FASB ASC 820-10 establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard describes three levels of inputs that may be used to measure fair value: | ||||||||||||||||||||
Level 1: Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date. | ||||||||||||||||||||
Level 2: Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. | ||||||||||||||||||||
Level 3: Significant unobservable inputs that reflect a reporting entity’s own assumptions about the assumptions that market participants would use in pricing an asset or liability. | ||||||||||||||||||||
There were no financial or nonfinancial instruments transferred in or out of Level 1, 2, or 3 input categories during the three and six months ended December 31, 2013 and 2012. | ||||||||||||||||||||
Investment Securities: The fair values for investment securities are determined by quoted market prices, if available (Level 1). For securities where quoted prices are not available, fair values are calculated based on market prices of similar securities (Level 2). For securities where quoted prices or market prices of similar securities are not available, fair values are calculated using discounted cash flows or other market indicators (Level 3). | ||||||||||||||||||||
Impaired Loans: At the time a loan is considered impaired, it is valued at the lower of cost or fair value. Impaired loans carried at fair value generally receive allocations of the allowance for loan losses that are individually evaluated. For collateral dependent loans, fair value is commonly based on recent real estate appraisals. These appraisals may utilize a single valuation approach or a combination of approaches including comparable sales and the income approach. Adjustments are routinely made in the appraisal process by the independent appraisers to adjust for differences between the comparable sales and income data available. Such adjustments are usually significant and typically result in a Level 3 classification of the inputs for determining fair value. Non-real estate collateral may be valued using an appraisal, net book value per the borrower’s financial statements, or aging reports, adjusted or discounted based on management’s historical knowledge, changes in market conditions from the time of the valuation, and management’s expertise and knowledge of the client and client’s business, resulting in a Level 3 fair value classification. Impaired loans are evaluated on a monthly basis for additional impairment and adjusted accordingly. | ||||||||||||||||||||
Mortgage Servicing Assets: MSAs are evaluated for impairment based upon the fair value of the rights as compared to carrying amount. The fair value is determined at a tranche level, based on a valuation model that calculates the present value of estimated future net servicing income. If the carrying amount of an individual tranche exceeds fair value, impairment is recorded on that tranche so that the servicing asset is carried at fair value. The valuation model utilizes assumptions that market participants would use in estimating future net servicing income and that can be validated against available market data such as prepayment speeds, ancillary income, servicing costs, delinquency rates. The significant assumptions also include discount rate and prepayment speed incorporated into the valuation model that reflect management’s best estimate resulting in a level 3 classification. | ||||||||||||||||||||
Assets and liabilities measured at fair value on a recurring basis are summarized in the following tables (dollars in thousands): | ||||||||||||||||||||
Fair Value Measurements Using | ||||||||||||||||||||
Total | Quoted Prices in | Significant Other | Significant | |||||||||||||||||
Active Markets for | Observable Inputs | Unobservable | ||||||||||||||||||
Identical Assets | (Level 2) | Inputs | ||||||||||||||||||
(Level 1) | (Level 3) | |||||||||||||||||||
31-Dec-13 | ||||||||||||||||||||
Assets | ||||||||||||||||||||
Available-for-sale securities | ||||||||||||||||||||
Mortgage-backed securities (residential) | $ | 27,264 | $ | — | $ | 27,264 | $ | — | ||||||||||||
Collateralized mortgage obligations (residential) | 17,987 | — | 17,987 | — | ||||||||||||||||
Total available-for-sale securities | $ | 45,251 | $ | — | $ | 45,251 | $ | — | ||||||||||||
June 30, 2013: | ||||||||||||||||||||
Assets | ||||||||||||||||||||
Available-for-sale securities | ||||||||||||||||||||
Mortgage-backed securities (residential) | $ | 30,075 | $ | — | $ | 30,075 | $ | — | ||||||||||||
Collateralized mortgage obligations (residential) | 22,105 | — | 22,105 | — | ||||||||||||||||
Total available-for-sale securities | $ | 52,180 | $ | — | $ | 52,180 | $ | — | ||||||||||||
Nonrecurring fair value measurements typically involve assets that are periodically evaluated for impairment and for which any impairment is recorded in the period in which the remeasurement is performed. The following assets were measured at fair value on a non-recurring basis (dollars in thousands): | ||||||||||||||||||||
Fair Value Measurements Using | ||||||||||||||||||||
Total | Quoted Prices in | Significant Other | Significant | |||||||||||||||||
Active Markets for | Observable Inputs | Unobservable | ||||||||||||||||||
Identical Assets | (Level 2) | Inputs | ||||||||||||||||||
(Level 1) | (Level 3) | |||||||||||||||||||
Assets at December 31, 2013: | ||||||||||||||||||||
MSAs | $ | 16 | $ | — | $ | — | $ | 16 | ||||||||||||
Assets at June 30, 2013: | ||||||||||||||||||||
Impaired Loans | ||||||||||||||||||||
One-to-four family residential | $ | 1,495 | $ | — | $ | — | $ | 1,495 | ||||||||||||
Loans Held for Sale | $ | 4,496 | $ | — | $ | 4,496 | $ | — | ||||||||||||
MSAs | $ | 195 | $ | — | $ | — | $ | 195 | ||||||||||||
At December 31, 2013 and June 30, 2013, no nonfinancial assets were measured at fair value on a non-recurring basis. | ||||||||||||||||||||
Loans are considered impaired when it is probable that the Company will be unable to collect all amounts due as scheduled according to the contractual terms of the loan agreement, including contractual interest and principal payments. Impaired loans are measured for impairment using the fair value of the collateral for collateral dependent loans. The fair value of collateral is calculated using an independent third party appraisal. There were no impaired loans measured at fair value at December 31, 2013. Impaired loans measured at fair value had a recorded investment balance of $1.5 million with the valuation allowance of $32,000 at June 30, 2013. At December 31, 2013, the carrying amount of collateral dependent loans are lower than the fair value of the collateral primarily attributable to principal reduction from pay-offs and continuous payments on impaired loans individually evaluated during the six months ended December 31, 2013. | ||||||||||||||||||||
Impairment of MSAs is determined at the tranche level and recognized through a valuation allowance for each individual grouping, to the extent that fair value is less than the carrying amount. The impairment amount was $7,000 as of December 31, 2013 as compared to $31,000 as of June 30, 2013. | ||||||||||||||||||||
The following table presents quantitative information about level 3 fair value measurements for financial instruments measured at fair value on a recurring and non-recurring basis as of the dates indicated (dollars in thousands): | ||||||||||||||||||||
31-Dec-13 | Fair Value | Valuation Techniques | Unobservable Inputs | Range | ||||||||||||||||
(Weighted Avg) | ||||||||||||||||||||
MSAs | $ | 16 | Discounted Cash Flow | Discount Rate | 8.50% | |||||||||||||||
Prepayment speed ("CPR") | 5.37% to 11.40% (6.78%) | |||||||||||||||||||
30-Jun-13 | Fair Value | Valuation Techniques | Unobservable Inputs | Range | ||||||||||||||||
(Weighted Avg) | ||||||||||||||||||||
Impaired Loans | ||||||||||||||||||||
One-to-four family residential | $ | 1,495 | Sales Comparison Approach | Adjustment for the differences between the comparable sales | -8.7% to 8.5% (-1.45%) | |||||||||||||||
MSAs | 195 | Discounted Cash Flow | Discount Rate | 7.50% | ||||||||||||||||
Fair Value of Financial Instruments | ||||||||||||||||||||
The estimated fair value amounts have been determined by the Company using available market information and appropriate valuation methodologies. However, considerable judgment is required to interpret market data to develop the estimates of fair value. Accordingly, the estimates presented herein are not necessarily indicative of the amounts the Company could realize in a market exchange. The use of different assumptions and/or estimation methodologies may have a material effect on the estimated fair value amounts. | ||||||||||||||||||||
The following methods and assumptions were used to estimate fair value of each class of financial instruments for which it is practicable to estimate fair value: | ||||||||||||||||||||
Cash and Cash Equivalents | ||||||||||||||||||||
The carrying amounts of cash and cash equivalents approximate fair values. Cash on hand and non-interest due from bank accounts are classified as Level 1 and federal funds sold are classified as Level 2. | ||||||||||||||||||||
Investments | ||||||||||||||||||||
Estimated fair values for securities held-to-maturity are obtained from quoted market prices where available and are classified as Level 1. Where quoted market prices are not available, estimated fair values are based on quoted market prices of comparable instruments and are classified as Level 2. | ||||||||||||||||||||
Securities available-for-sale that are previously reported are excluded from the fair value disclosure below. | ||||||||||||||||||||
FHLB Stock | ||||||||||||||||||||
It is not practical to determine the fair value of FHLB stock due to restrictions placed on its transferability. | ||||||||||||||||||||
Loans Held for Sale | ||||||||||||||||||||
Fair value for loans held for sale is determined using quoted secondary-market prices such as loan sale commitments and is classified as Level 2. | ||||||||||||||||||||
Loans | ||||||||||||||||||||
Fair value for loans are estimated using discounted cash flow analyses, using interest rates currently being offered for loans with similar terms to borrowers of similar credit quality resulting in a Level 3 classification. Impaired loans are valued at the lower of cost or fair value as described previously and are excluded from the fair value disclosure below. The methods utilized to estimate the fair value of loans do not necessarily represent an exit price. | ||||||||||||||||||||
MSAs | ||||||||||||||||||||
The Company uses the amortization method for its MSAs and assesses the MSAs for impairment based on fair value. The fair value of MSAs is determined at tranche level using significant assumptions such as discount rate and prepayment speed and is classified as Level 3. MSAs tranches with impairment recorded as described previously are excluded from the fair value disclosure below. | ||||||||||||||||||||
Accrued Interest Receivable | ||||||||||||||||||||
Consistent with the asset or liability they are associated with, the carrying amounts of accrued interest receivable approximate fair value resulting in a either Level 2 or Level 3 classification. | ||||||||||||||||||||
Deposits | ||||||||||||||||||||
The fair values disclosed for demand deposits are, by definition, equal to the amount payable on demand at the reporting date (i.e., their carrying amounts) resulting in a Level 2 classification. The carrying amounts of variable rate, fixed-term money market accounts and certificates of deposit approximate their fair values at the reporting date resulting in a Level 2 classification. Fair values for fixed rate certificates of deposit are estimated using a discounted cash flows calculation that applies interest rates currently being offered on certificates to a schedule of aggregated expected monthly maturities on time deposits resulting in a Level 2 classification. | ||||||||||||||||||||
FHLB Advances | ||||||||||||||||||||
The fair values of the Company’s FHLB advances are estimated using discounted cash flow analyses based on the current borrowing rates for similar types of borrowing arrangements resulting in a Level 2 classification. | ||||||||||||||||||||
Off-Balance Sheet Financial Instruments | ||||||||||||||||||||
The fair values for the Company’s off-balance sheet loan commitments are estimated based on fees charged to others to enter into similar agreements taking into account the remaining terms of the agreements and credit standing of the Company’s customers. The estimated fair value of these commitments is not significant. | ||||||||||||||||||||
The carrying amounts and estimated fair values of the Company’s financial instruments are summarized as follows (in thousands): | ||||||||||||||||||||
Fair Value Measurements at December 31, 2013 Using: | ||||||||||||||||||||
Carrying | Quoted Prices in Active | Significant Other | Significant | Fair | ||||||||||||||||
Amount | Markets for Identical Assets | Observable Inputs | Unobservable Inputs | Value | ||||||||||||||||
(Level 1) | (Level 2) | (Level 3) | ||||||||||||||||||
Financial assets: | ||||||||||||||||||||
Cash on hand | $ | 9,035 | $ | 9,035 | $ | — | $ | — | $ | 9,035 | ||||||||||
Federal funds sold | 48,610 | — | 48,610 | — | 48,610 | |||||||||||||||
Securities held-to-maturity | 444 | — | 456 | — | 456 | |||||||||||||||
Federal Home Loan Bank Stock | 5,902 | — | — | — | — | |||||||||||||||
Loans held for sale | 2,141 | — | 2,173 | — | 2,173 | |||||||||||||||
Loans receivable, net | 714,711 | — | — | 728,187 | 728,187 | |||||||||||||||
MSAs | 691 | — | — | 999 | 999 | |||||||||||||||
Accrued interest receivable - loans | 2,245 | — | — | 2,245 | 2,245 | |||||||||||||||
Accrued interest receivable - investments | 81 | — | 81 | — | 81 | |||||||||||||||
Financial liabilities: | ||||||||||||||||||||
Deposits | 624,478 | — | 628,955 | — | 628,955 | |||||||||||||||
FHLB Advances | 85,000 | — | 85,758 | — | 85,758 | |||||||||||||||
Fair Value Measurements at June 30, 2013 Using: | ||||||||||||||||||||
Carrying | Quoted Prices in Active | Significant Other | Significant | Fair | ||||||||||||||||
Amount | Markets for Identical Assets | Observable Inputs | Unobservable Inputs | Value | ||||||||||||||||
(Level 1) | (Level 2) | (Level 3) | ||||||||||||||||||
Financial assets: | ||||||||||||||||||||
Cash on hand | $ | 8,864 | $ | 8,864 | $ | — | $ | — | $ | 8,864 | ||||||||||
Federal funds sold | 76,810 | — | 76,810 | — | 76,810 | |||||||||||||||
Securities held-to-maturity | 525 | — | 541 | — | 541 | |||||||||||||||
Federal Home Loan Bank Stock | 5,902 | — | — | — | — | |||||||||||||||
Loans held for sale | 4,496 | — | 4,496 | — | 4,496 | |||||||||||||||
Loans receivable, net | 688,213 | — | — | 710,219 | 710,219 | |||||||||||||||
MSAs | 407 | — | — | 494 | 494 | |||||||||||||||
Accrued interest receivable - loans | 2,344 | — | — | 2,344 | 2,344 | |||||||||||||||
Accrued interest receivable - investments | 93 | — | 93 | — | 93 | |||||||||||||||
Financial liabilities: | ||||||||||||||||||||
Deposits | 654,646 | — | 660,995 | — | 660,995 | |||||||||||||||
FHLB Advances | 60,000 | — | 61,451 | — | 61,451 | |||||||||||||||
Investments
Investments | 6 Months Ended | |||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ' | |||||||||||||||||||||||
Investments | ' | |||||||||||||||||||||||
Investments | ||||||||||||||||||||||||
The amortized cost and fair value of available-for-sale securities and the related gross unrealized gains and losses recognized in accumulated other comprehensive income were as follows (in thousands): | ||||||||||||||||||||||||
Fair | Gross | Gross | Amortized | |||||||||||||||||||||
Value | Unrealized | Unrealized | Cost | |||||||||||||||||||||
Gains | Losses | |||||||||||||||||||||||
31-Dec-13 | ||||||||||||||||||||||||
Mortgage-backed (residential): | ||||||||||||||||||||||||
Fannie Mae | $ | 7,469 | $ | 13 | $ | (10 | ) | $ | 7,466 | |||||||||||||||
Freddie Mac | 19,795 | — | (855 | ) | 20,650 | |||||||||||||||||||
Collateralized mortgage obligations (residential): | ||||||||||||||||||||||||
Fannie Mae | 10,232 | 10 | (23 | ) | 10,245 | |||||||||||||||||||
Freddie Mac | 7,755 | 35 | — | 7,720 | ||||||||||||||||||||
Total | $ | 45,251 | $ | 58 | $ | (888 | ) | $ | 46,081 | |||||||||||||||
30-Jun-13 | ||||||||||||||||||||||||
Mortgage-backed (residential): | ||||||||||||||||||||||||
Fannie Mae | $ | 8,510 | $ | 9 | $ | (17 | ) | $ | 8,518 | |||||||||||||||
Freddie Mac | 21,565 | — | (662 | ) | 22,227 | |||||||||||||||||||
Collateralized mortgage obligations (residential): | ||||||||||||||||||||||||
Fannie Mae | 13,125 | 59 | (39 | ) | 13,105 | |||||||||||||||||||
Freddie Mac | 8,980 | 57 | — | 8,923 | ||||||||||||||||||||
Total | $ | 52,180 | $ | 125 | $ | (718 | ) | $ | 52,773 | |||||||||||||||
The carrying amount, unrecognized gains and losses, and fair value of securities held-to-maturity were as follows (in thousands): | ||||||||||||||||||||||||
Carrying | Gross | Gross | Fair | |||||||||||||||||||||
Amount | Unrecognized | Unrecognized | Value | |||||||||||||||||||||
Gains | Losses | |||||||||||||||||||||||
31-Dec-13 | ||||||||||||||||||||||||
Mortgage-backed (residential): | ||||||||||||||||||||||||
Fannie Mae | $ | 106 | $ | 3 | $ | — | $ | 109 | ||||||||||||||||
Freddie Mac | 66 | 4 | — | 70 | ||||||||||||||||||||
Ginnie Mae | 33 | 1 | — | 34 | ||||||||||||||||||||
Collateralized mortgage obligations (residential): | ||||||||||||||||||||||||
Fannie Mae | 239 | 4 | — | 243 | ||||||||||||||||||||
Freddie Mac | — | — | — | — | ||||||||||||||||||||
Total | $ | 444 | $ | 12 | $ | — | $ | 456 | ||||||||||||||||
June 30, 2013 | ||||||||||||||||||||||||
Mortgage-backed (residential): | ||||||||||||||||||||||||
Fannie Mae | $ | 119 | $ | 4 | $ | — | $ | 123 | ||||||||||||||||
Freddie Mac | 74 | 5 | — | 79 | ||||||||||||||||||||
Ginnie Mae | 36 | 2 | — | 38 | ||||||||||||||||||||
Collateralized mortgage obligations (residential): | ||||||||||||||||||||||||
Fannie Mae | 296 | 5 | — | 301 | ||||||||||||||||||||
Freddie Mac | — | — | — | — | ||||||||||||||||||||
Total | $ | 525 | $ | 16 | $ | — | $ | 541 | ||||||||||||||||
There were no sales of securities during the three and six months ended December 31, 2013 and December 31, 2012. | ||||||||||||||||||||||||
All mortgage-backed securities and collateralized mortgage obligations have varying contractual maturity dates at December 31, 2013. Expected maturities may differ from contractual maturities because borrowers may have the right to call or repay obligations with or without call or repayment penalties. There were no mortgage-backed securities called prior to the maturity date during the three and six months ended December 31, 2013. | ||||||||||||||||||||||||
Securities with unrealized losses at December 31, 2013 and June 30, 2013, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, are as follows (in thousands): | ||||||||||||||||||||||||
Less than 12 months | 12 months or more | Total | ||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||||||
Value | Loss | Value | Loss | Value | Loss | |||||||||||||||||||
31-Dec-13 | ||||||||||||||||||||||||
Description of Securities | ||||||||||||||||||||||||
Mortgage-backed securities | $ | 21,843 | $ | (865 | ) | $ | — | $ | — | $ | 21,843 | $ | (865 | ) | ||||||||||
Collateralized mortgage obligations (residential) | 4,720 | (5 | ) | 1,863 | (18 | ) | 6,583 | (23 | ) | |||||||||||||||
Total temporarily impaired | $ | 26,563 | $ | (870 | ) | $ | 1,863 | $ | (18 | ) | $ | 28,426 | $ | (888 | ) | |||||||||
June 30, 2013 | ||||||||||||||||||||||||
Description of Securities | ||||||||||||||||||||||||
Mortgage-backed securities | $ | 25,476 | $ | (680 | ) | $ | — | $ | — | $ | 25,476 | $ | (680 | ) | ||||||||||
Collateralized mortgage obligations (residential) | — | — | 2,508 | (39 | ) | 2,508 | (39 | ) | ||||||||||||||||
Total temporarily impaired | $ | 25,476 | $ | (680 | ) | $ | 2,508 | $ | (39 | ) | $ | 27,984 | $ | (719 | ) | |||||||||
The Company evaluates securities for other-than-temporary impairment at least on a quarterly basis, and more frequently when economic or market concerns warrant such evaluation. Consideration is given to the length of time and the extent to which the fair value has been less than cost, the financial condition and near-term prospects of the issuer, and the Company does not have the intent to sell these securities and it is not more likely than not that it will be required to sell the securities before their anticipated recovery. In analyzing an issuer’s financial condition, the Company may consider whether the securities are issued by the federal government or its agencies, whether downgrades by bond rating agencies have occurred, and the results of reviews of the issuer’s financial condition. | ||||||||||||||||||||||||
At December 31, 2013, eleven debt securities had an aggregate unrealized loss of 3.0% of the Company’s amortized cost basis. At June 30, 2013, ten debt securities had an unrealized loss of 2.6% of the Company’s amortized cost basis. We do not own any non-agency mortgage-backed securities (“MBSs”) or collateralized mortgage obligations (“CMOs”). All MBSs and CMOs were issued by U.S. government-sponsored entities and agencies, primarily Fannie Mae and Freddie Mac, institutions which the government has affirmed its commitment to support. The unrealized losses relate principally to the general change in interest rates and liquidity, and not credit quality, that has occurred since the securities’ purchase dates, and such unrecognized losses or gains will continue to vary with general interest rate level fluctuations in the future. As management has the intent and ability to hold debt securities until recovery, which may be maturity, and it is not more likely than not that it will be required to sell the securities before their anticipated recovery, no declines in fair value are deemed to be other-than-temporary as of December 31, 2013 and June 30, 2013. | ||||||||||||||||||||||||
At December 31, 2013 and June 30, 2013, there were no investments in any one issuer, other than the U.S. Government and its agencies, in an amount greater than 10% of stockholders’ equity. |
Loans
Loans | 6 Months Ended | |||||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||||
Receivables [Abstract] | ' | |||||||||||||||||||||||||||
Loans | ' | |||||||||||||||||||||||||||
Loans | ||||||||||||||||||||||||||||
The composition of loans consists of the following (in thousands): | ||||||||||||||||||||||||||||
December 31, | June 30, | |||||||||||||||||||||||||||
2013 | 2013 | |||||||||||||||||||||||||||
Real Estate: | ||||||||||||||||||||||||||||
One-to-four family residential | $ | 298,985 | $ | 319,631 | ||||||||||||||||||||||||
Multi-family residential | 322,939 | 280,771 | ||||||||||||||||||||||||||
Commercial real estate | 46,224 | 55,621 | ||||||||||||||||||||||||||
668,148 | 656,023 | |||||||||||||||||||||||||||
Consumer: | ||||||||||||||||||||||||||||
Automobile | 36,328 | 26,711 | ||||||||||||||||||||||||||
Home equity | 650 | 682 | ||||||||||||||||||||||||||
Other consumer loans, primarily unsecured | 14,052 | 10,917 | ||||||||||||||||||||||||||
51,030 | 38,310 | |||||||||||||||||||||||||||
Total loans | 719,178 | 694,333 | ||||||||||||||||||||||||||
Deferred net loan origination costs | 263 | 506 | ||||||||||||||||||||||||||
Net premium on purchased loans | 309 | 512 | ||||||||||||||||||||||||||
Allowance for loan losses | (5,039 | ) | (5,643 | ) | ||||||||||||||||||||||||
Loans receivable, net | $ | 714,711 | $ | 689,708 | ||||||||||||||||||||||||
Loans held for sale totaled $2.1 million as of December 31, 2013 as compared to $4.5 million as of June 30, 2013. Loans held for sale are recorded at the lower of cost or fair value. Fair value, if lower than cost, is determined by outstanding commitments from the investor. Proceeds from sales of loans held for sale were $17.0 million and $33.0 million during the six months ended December 31, 2013 and 2012, resulting in net gain on sales of $330,000 and $1.3 million, respectively. | ||||||||||||||||||||||||||||
The following is an analysis of the changes in the allowance for loan losses (in thousands): | ||||||||||||||||||||||||||||
Allowance for loan losses for the | ||||||||||||||||||||||||||||
Three months ended December 31, 2013 | ||||||||||||||||||||||||||||
One-to-four | Multi-family | Commercial | Automobile | Home | Other | Total | ||||||||||||||||||||||
family | residential | real estate | equity | |||||||||||||||||||||||||
Balance, beginning of period | $ | 2,628 | $ | 1,287 | $ | 1,408 | $ | 112 | $ | 4 | $ | 48 | $ | 5,487 | ||||||||||||||
Provision for loan losses | (247 | ) | (94 | ) | (222 | ) | 27 | (1 | ) | 237 | (300 | ) | ||||||||||||||||
Recoveries | 6 | — | — | 20 | — | 2 | 28 | |||||||||||||||||||||
Loans charged-off | — | (131 | ) | — | (36 | ) | — | (9 | ) | (176 | ) | |||||||||||||||||
Balance, end of period | $ | 2,387 | $ | 1,062 | $ | 1,186 | $ | 123 | $ | 3 | $ | 278 | $ | 5,039 | ||||||||||||||
Allowance for loan losses for the | ||||||||||||||||||||||||||||
Three months ended December 31, 2012 | ||||||||||||||||||||||||||||
One-to-four | Multi-family | Commercial | Automobile | Home | Other | Total | ||||||||||||||||||||||
family | residential | real estate | equity | |||||||||||||||||||||||||
Balance, beginning of period | $ | 4,521 | $ | 1,057 | $ | 672 | $ | 88 | $ | 26 | $ | 28 | $ | 6,392 | ||||||||||||||
Provision for loan losses | 490 | (231 | ) | 369 | (14 | ) | (32 | ) | 18 | 600 | ||||||||||||||||||
Recoveries | 2 | — | — | 22 | 6 | 3 | 33 | |||||||||||||||||||||
Loans charged-off | (388 | ) | — | — | (11 | ) | — | (6 | ) | (405 | ) | |||||||||||||||||
Balance, end of period | $ | 4,625 | $ | 826 | $ | 1,041 | $ | 85 | $ | — | $ | 43 | $ | 6,620 | ||||||||||||||
Allowance for loan losses for the | ||||||||||||||||||||||||||||
Six Months Ended December 31, 2013 | ||||||||||||||||||||||||||||
One-to-four | Multi-family | Commercial | Automobile | Home | Other | Total | ||||||||||||||||||||||
family | residential | real estate | equity | |||||||||||||||||||||||||
Balance, beginning of period | $ | 3,009 | $ | 839 | $ | 1,654 | $ | 83 | $ | 4 | $ | 54 | $ | 5,643 | ||||||||||||||
Provision for loan losses | (599 | ) | 454 | (469 | ) | 74 | (1 | ) | 241 | (300 | ) | |||||||||||||||||
Recoveries | 10 | — | 1 | 28 | — | 3 | 42 | |||||||||||||||||||||
Loans charged-off | (33 | ) | (231 | ) | — | (62 | ) | — | (20 | ) | (346 | ) | ||||||||||||||||
Balance, end of period | $ | 2,387 | $ | 1,062 | $ | 1,186 | $ | 123 | $ | 3 | $ | 278 | $ | 5,039 | ||||||||||||||
Allowance for loan losses for the | ||||||||||||||||||||||||||||
Six Months Ended December 31, 2012 | ||||||||||||||||||||||||||||
One-to-four | Multi-family | Commercial | Automobile | Home | Other | Total | ||||||||||||||||||||||
family | residential | real estate | equity | |||||||||||||||||||||||||
Balance, beginning of period | $ | 4,692 | $ | 1,519 | $ | 1,131 | $ | 62 | $ | 63 | $ | 35 | $ | 7,502 | ||||||||||||||
Provision for loan losses | 1,454 | (469 | ) | 437 | 26 | (13 | ) | 15 | 1,450 | |||||||||||||||||||
Recoveries | 43 | — | — | 29 | 6 | 4 | 82 | |||||||||||||||||||||
Loans charged-off | (1,564 | ) | (224 | ) | (527 | ) | (32 | ) | (56 | ) | (11 | ) | (2,414 | ) | ||||||||||||||
Balance, end of period | $ | 4,625 | $ | 826 | $ | 1,041 | $ | 85 | $ | — | $ | 43 | $ | 6,620 | ||||||||||||||
The following tables present the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment and based on impairment method as of December 31, 2013 and June 30, 2013 (in thousands): | ||||||||||||||||||||||||||||
31-Dec-13 | One-to-four | Multi-family | Commercial | Automobile | Home | Other | Total | |||||||||||||||||||||
family | residential | real estate | equity | |||||||||||||||||||||||||
Allowance for loan losses: | ||||||||||||||||||||||||||||
Ending allowance balance attributed to loans: | ||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 918 | $ | — | $ | 58 | $ | 11 | $ | — | $ | 6 | $ | 993 | ||||||||||||||
Collectively evaluated for impairment | 1,469 | 1,062 | 1,128 | 112 | 3 | 272 | 4,046 | |||||||||||||||||||||
Total ending allowance balance | $ | 2,387 | $ | 1,062 | $ | 1,186 | $ | 123 | $ | 3 | $ | 278 | $ | 5,039 | ||||||||||||||
One-to-four | Multi-family | Commercial | Automobile | Home | Other | Total | ||||||||||||||||||||||
family | residential | real estate | equity | |||||||||||||||||||||||||
Loans: | ||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 13,143 | $ | 2,187 | $ | 5,720 | $ | 11 | $ | — | $ | 6 | $ | 21,067 | ||||||||||||||
Collectively evaluated for impairment | 285,842 | 320,752 | 40,504 | 36,317 | 650 | 14,046 | 698,111 | |||||||||||||||||||||
Total ending loan balance | $ | 298,985 | $ | 322,939 | $ | 46,224 | $ | 36,328 | $ | 650 | $ | 14,052 | $ | 719,178 | ||||||||||||||
30-Jun-13 | One-to-four | Multi-family | Commercial | Automobile | Home | Other | Total | |||||||||||||||||||||
family | residential | real estate | equity | |||||||||||||||||||||||||
Allowance for loan losses: | ||||||||||||||||||||||||||||
Ending allowance balance attributed to loans: | ||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 941 | $ | — | $ | 64 | $ | — | $ | — | $ | 4 | $ | 1,009 | ||||||||||||||
Collectively evaluated for impairment | 2,068 | 839 | 1,590 | 83 | 4 | 50 | 4,634 | |||||||||||||||||||||
Total ending allowance balance | $ | 3,009 | $ | 839 | $ | 1,654 | $ | 83 | $ | 4 | $ | 54 | $ | 5,643 | ||||||||||||||
One-to-four | Multi-family | Commercial | Automobile | Home | Other | Total | ||||||||||||||||||||||
family | residential | real estate | equity | |||||||||||||||||||||||||
Loans: | ||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 14,790 | $ | 1,547 | $ | 6,136 | $ | — | $ | — | $ | 4 | $ | 22,477 | ||||||||||||||
Collectively evaluated for impairment | 304,841 | 279,224 | 49,485 | 26,711 | 682 | 10,913 | 671,856 | |||||||||||||||||||||
Total ending loan balance | $ | 319,631 | $ | 280,771 | $ | 55,621 | $ | 26,711 | $ | 682 | $ | 10,917 | $ | 694,333 | ||||||||||||||
A loan is impaired when it is probable, based on current information and events, the Company will be unable to collect all contractual principal and interest payments due in accordance with the terms of the loan agreement. When it is determined that a loss is probable, a valuation allowance is established and included in the allowance for loan losses. The amount of impairment is determined by the difference between the recorded investment in the loan and the present value of expected cash flows, or estimated net realizable value of the underlying collateral on collateral dependent loans. | ||||||||||||||||||||||||||||
The difference between the recorded investment and unpaid principal balance of loans relates to net deferred origination costs, net premiums on purchased loans, charge-offs and interest payments received on impaired loans that are recorded as a reduction of principal. Included in the real estate loans individually evaluated for impairment with an allowance recorded as of December 31, 2013, $8.3 million were evaluated based on the loans’ present value of expected cash flows with a valuation allowance of $976,000. There were no collateral dependent loans measured at fair value with a valuation allowance recorded. This compares to $1.5 million collateral dependent loans measured at fair value with a valuation allowance of $32,000 and $7.7 million evaluated based on the loans’ present value of expected cash flows with a valuation allowance of $974,000 at June 30, 2013. | ||||||||||||||||||||||||||||
The following tables present loans individually evaluated for impairment by class of loans as of December 31, 2013 and June 30, 2013 (in thousands): | ||||||||||||||||||||||||||||
31-Dec-13 | Unpaid Principal | Recorded | Allowance for Loan | |||||||||||||||||||||||||
Balance | Investment | Losses Allocated | ||||||||||||||||||||||||||
With no related allowance recorded: | ||||||||||||||||||||||||||||
Real estate loans: | ||||||||||||||||||||||||||||
One-to-four family | $ | 7,063 | $ | 6,044 | $ | — | ||||||||||||||||||||||
Multi-family residential | 2,655 | 2,186 | — | |||||||||||||||||||||||||
Commercial real estate | 5,348 | 4,537 | — | |||||||||||||||||||||||||
15,066 | 12,767 | — | ||||||||||||||||||||||||||
With an allowance recorded: | ||||||||||||||||||||||||||||
Real estate loans: | ||||||||||||||||||||||||||||
One-to-four family | 7,360 | 7,099 | 918 | |||||||||||||||||||||||||
Multi-family residential | — | — | — | |||||||||||||||||||||||||
Commercial real estate | 1,184 | 1,184 | 58 | |||||||||||||||||||||||||
Other loans: | ||||||||||||||||||||||||||||
Automobile | 11 | 11 | 11 | |||||||||||||||||||||||||
Other | 6 | 6 | 6 | |||||||||||||||||||||||||
8,561 | 8,300 | 993 | ||||||||||||||||||||||||||
Total | $ | 23,627 | $ | 21,067 | $ | 993 | ||||||||||||||||||||||
30-Jun-13 | Unpaid Principal | Recorded | Allowance for Loan | |||||||||||||||||||||||||
Balance | Investment | Losses Allocated | ||||||||||||||||||||||||||
With no related allowance recorded: | ||||||||||||||||||||||||||||
Real estate loans: | ||||||||||||||||||||||||||||
One-to-four family | $ | 7,909 | $ | 6,796 | $ | — | ||||||||||||||||||||||
Multi-family residential | 1,961 | 1,547 | — | |||||||||||||||||||||||||
Commercial real estate | 5,704 | 4,940 | — | |||||||||||||||||||||||||
15,574 | 13,283 | — | ||||||||||||||||||||||||||
With an allowance recorded: | ||||||||||||||||||||||||||||
Real estate loans: | ||||||||||||||||||||||||||||
One-to-four family | 8,227 | 7,994 | 941 | |||||||||||||||||||||||||
Multi-family residential | — | — | — | |||||||||||||||||||||||||
Commercial real estate | 1,196 | 1,196 | 64 | |||||||||||||||||||||||||
Other loans: | ||||||||||||||||||||||||||||
Other | 4 | 4 | 4 | |||||||||||||||||||||||||
9,427 | 9,194 | 1,009 | ||||||||||||||||||||||||||
Total | $ | 25,001 | $ | 22,477 | $ | 1,009 | ||||||||||||||||||||||
The following table presents monthly average of individually impaired loans by class for the three and six months ended December 31, 2013 and 2012 (in thousands): | ||||||||||||||||||||||||||||
Three months ended | Six months ended | |||||||||||||||||||||||||||
December 31, | December 31, | |||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||
Real estate loan: | ||||||||||||||||||||||||||||
One-to-four family | $ | 13,561 | $ | 19,007 | $ | 13,971 | $ | 19,182 | ||||||||||||||||||||
Multi-family residential | 1,921 | 2,178 | 1,796 | 2,261 | ||||||||||||||||||||||||
Commercial real estate | 5,744 | 5,391 | 5,875 | 4,999 | ||||||||||||||||||||||||
Other loans: | ||||||||||||||||||||||||||||
Home Equity | — | — | — | 12 | ||||||||||||||||||||||||
Total | $ | 21,226 | $ | 26,576 | $ | 21,642 | $ | 26,454 | ||||||||||||||||||||
Payments received on impaired loans are recorded as a reduction of principal. Interest payments collected on non-accrual loans are characterized as payments of principal rather than payments of the outstanding accrued interest on the loans until the remaining principal on the non-accrual loans is considered to be fully collectible. If the loan returns to accrual status, interest income would be recognized based on the effective yield to maturity on the loan and the amount of interest applied to principal will be accreted over the remaining term of the loan. | ||||||||||||||||||||||||||||
Foregone interest income, which would have been recorded had the non-accrual loans been current in accordance with their original terms, amounted to $228,000 and $398,000 for the three months ended December 31, 2013 and 2012, respectively, and was not included in the results of operations, of which $155,000 and $254,000, respectively, was collected and applied to the net loan balances. Foregone interest income amounted to $444,000 and $592,000 for the six months ended December 31, 2013 and 2012, respectively, and was not included in the results of operations, of which $306,000 and $346,000, respectively, was collected and applied to the net loan balances. | ||||||||||||||||||||||||||||
The following table presents interest payments recorded as reduction of principal on impaired loans by class (in thousands): | ||||||||||||||||||||||||||||
Three months ended | Six months ended | |||||||||||||||||||||||||||
December 31, | December 31, | |||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||
Real estate loan: | ||||||||||||||||||||||||||||
One-to-four family | $ | 102 | $ | 139 | $ | 195 | $ | 192 | ||||||||||||||||||||
Multi-family residential | 28 | 26 | 58 | 35 | ||||||||||||||||||||||||
Commercial real estate | 25 | 89 | 53 | 119 | ||||||||||||||||||||||||
Total | $ | 155 | $ | 254 | $ | 306 | $ | 346 | ||||||||||||||||||||
At December 31, 2013 and June 30, 2013, there were no loans past due more than 90 days and still accruing interest. | ||||||||||||||||||||||||||||
The following table presents non-accrual loans by class of loans (in thousands): | ||||||||||||||||||||||||||||
Non-accrual loans: | 31-Dec-13 | 30-Jun-13 | ||||||||||||||||||||||||||
Real estate loans: | ||||||||||||||||||||||||||||
One-to-four family | $ | 6,416 | $ | 10,310 | ||||||||||||||||||||||||
Multi-family residential | 1,698 | 1,547 | ||||||||||||||||||||||||||
Commercial | 3,653 | 4,045 | ||||||||||||||||||||||||||
Other loans: | ||||||||||||||||||||||||||||
Automobile | 11 | 14 | ||||||||||||||||||||||||||
Other | 6 | 4 | ||||||||||||||||||||||||||
Total non-accrual loans | $ | 11,784 | $ | 15,920 | ||||||||||||||||||||||||
There were eight one-to-four family residential loans of $2.9 million, three multi-family loans of $934,000, and one commercial real estate loan of $1.1 million on non-accrual status that were performing in accordance with their revised contractual terms at December 31, 2013. | ||||||||||||||||||||||||||||
The following tables present the aging of past due loans by class of loans (in thousands): | ||||||||||||||||||||||||||||
31-Dec-13 | 30-59 Days | 60-89 Days | 90 Days or | Total | Total | Total Loans | ||||||||||||||||||||||
Delinquent | Delinquent | More | Delinquent | Current | ||||||||||||||||||||||||
Delinquent | Loans | Loans | ||||||||||||||||||||||||||
Real estate loans: | ||||||||||||||||||||||||||||
One-to-four family | $ | 1,604 | $ | 1,257 | $ | 739 | $ | 3,600 | $ | 295,385 | $ | 298,985 | ||||||||||||||||
Multi-family | 659 | — | 545 | 1,204 | 321,735 | 322,939 | ||||||||||||||||||||||
Commercial | 960 | — | 2,545 | 3,505 | 42,719 | 46,224 | ||||||||||||||||||||||
Other loans: | ||||||||||||||||||||||||||||
Automobile | 78 | — | 11 | 89 | 36,239 | 36,328 | ||||||||||||||||||||||
Home Equity | — | — | — | — | 650 | 650 | ||||||||||||||||||||||
Other | 16 | 11 | 5 | 32 | 14,020 | 14,052 | ||||||||||||||||||||||
Total loans | $ | 3,317 | $ | 1,268 | $ | 3,845 | $ | 8,430 | $ | 710,748 | $ | 719,178 | ||||||||||||||||
30-Jun-13 | 30-59 Days | 60-89 Days | 90 Days or | Total | Total | Total Loans | ||||||||||||||||||||||
Delinquent | Delinquent | More | Delinquent | Current | ||||||||||||||||||||||||
Delinquent | Loans | Loans | ||||||||||||||||||||||||||
Real estate loans: | ||||||||||||||||||||||||||||
One-to-four family | $ | 389 | $ | 970 | $ | 1,751 | $ | 3,110 | $ | 316,521 | $ | 319,631 | ||||||||||||||||
Multi-family | — | 198 | — | 198 | 280,573 | 280,771 | ||||||||||||||||||||||
Commercial | — | 2,545 | — | 2,545 | 53,076 | 55,621 | ||||||||||||||||||||||
Other loans: | ||||||||||||||||||||||||||||
Automobile | 32 | — | 14 | 46 | 26,665 | 26,711 | ||||||||||||||||||||||
Home Equity | 143 | — | — | 143 | 539 | 682 | ||||||||||||||||||||||
Other | 20 | 2 | 4 | 26 | 10,891 | 10,917 | ||||||||||||||||||||||
Total loans | $ | 584 | $ | 3,715 | $ | 1,769 | $ | 6,068 | $ | 688,265 | $ | 694,333 | ||||||||||||||||
Troubled Debt Restructurings: | ||||||||||||||||||||||||||||
Troubled debt restructurings totaled $15.4 million and $15.7 million at December 31, 2013 and June 30, 2013, respectively. Troubled debt restructurings of $6.1 million and $9.1 million are included in the non-accrual loans at December 31, 2013 and June 30, 2013. The Bank has allocated $97,000 and $393,000 of valuation allowance to customers whose loan terms have been modified in troubled debt restructurings and were on non-accrual status as of December 31, 2013 and June 30, 2013, respectively. Troubled debt restructured loans are included in non-accrual loans until there is a sustained period of payment performance (usually six months or longer and determined on a case by case basis) and there is a reasonable assurance that the timely payment will continue. During the six months ended December 31, 2013, eight troubled debt restructurings with an aggregate outstanding balance of $2.8 million were returned to accrual status as a result of the borrowers paying the modified terms as agreed for a sustained period of more than six months and the Bank believes there is reasonable assurance that timely payment will continue. This compares to five troubled debt restructurings returning with an aggregate outstanding balance of $1.7 million that were returned to accrual status during the same period last year. There were no further commitments to customers whose loans were troubled debt restructurings at December 31, 2013 and June 30, 2013. | ||||||||||||||||||||||||||||
During the three and six months ended December 31, 2013, there were no new loans that were modified as troubled debt restructurings. This compares to no new loans that were modified as troubled debt restructurings during the three months ended December 31, 2012 and three one-to-four family loans with an aggregate outstanding balance of $1.1 million whose terms were modified as troubled debt restructurings during the six months ended December 31, 2012. The modification of the terms was a temporary reduction of the stated interest rates for a period of 24 months. There was no modification of terms involving a permanent reduction of the recorded investment in the loans during the six months ended December 31, 2013 and 2012. | ||||||||||||||||||||||||||||
At December 31, 2013, there were no loans modified as a troubled debt restructurings within the previous 12 months for which there was a payment default. At December 31, 2012, there were two one-to-four family loans, with an aggregate outstanding balance of $850,000, modified as troubled debt restructiongs within the previous 12 months for which there was a payment default. A loan is considered to be in payment default once it is 30 days contractually past due under the modified terms. | ||||||||||||||||||||||||||||
The terms of certain other loans were modified during the three and six months ended December 31, 2013 and 2012 that did not meet the definition of a troubled debt restructuring. During the three and six months ended December 31, 2013, ten loans in the amount of $3.1 million and sixteen loans in the amount of $5.4 million were modified and not accounted for as troubled debt restructurings. During the three and six months ended December 31, 2012, fifteen loans in the amount of $6.7 million and forty-three loans in the amount of $5.4 million were modified and not accounted for as troubled debt restructurings.The modifications were made to refinance the credits to maintain the borrowing relationships and generally consisted of term or rate modifications. The borrowers were not experiencing financial difficulty or delay in loan payments and the modifications were made at market terms. | ||||||||||||||||||||||||||||
In order to determine whether a borrower is experiencing financial difficulty, an evaluation is performed of the probability that the borrower will be in payment default on any of its debt in the foreseeable future without the modification. This evaluation is performed under the Company’s internal underwriting policy. | ||||||||||||||||||||||||||||
Credit Quality Indicators | ||||||||||||||||||||||||||||
The Company categorizes loans into risk categories based on relevant information about the ability of the borrowers to service their debt such as: current financial information, historical payment experience, credit documentation and current economic trends among other factors. This analysis is performed monthly. The Company uses the following definitions for risk ratings: | ||||||||||||||||||||||||||||
Special Mention. Loans are classified as special mention when it is determined a loan relationship should be monitored more closely. Loans that are 60 days to 89 days past due are generally classified as special mention. In addition, loans are classified as special mention for a variety of reasons including changes in recent borrower financial conditions, changes in borrower operations, changes in value of available collateral, concerns regarding changes in economic conditions in a borrower’s industry, and other matters. A loan classified as special mention in many instances may be performing in accordance with the loan terms. | ||||||||||||||||||||||||||||
Substandard. Loans that are 90 days or more past due are generally classified as substandard. A loan is also considered substandard if it is inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Substandard assets include those characterized by the distinct possibility that the insured institution will sustain some loss if the deficiencies are not corrected. | ||||||||||||||||||||||||||||
Doubtful. Assets classified as doubtful have all of the weaknesses inherent in those classified substandard with the added characteristic that the weaknesses present make collection or liquidation in full highly questionable and improbable. | ||||||||||||||||||||||||||||
Loss. Assets classified as loss are considered uncollectible and of such little value that continuance as an asset, without establishment of a valuation allowance individually evaluated or charge-off, is not warranted. | ||||||||||||||||||||||||||||
Loans not meeting the criteria as part of the above described process are considered to be Pass rated loans. Pass rated loans are generally well protected by the current net worth and paying capacity of the obligor or by the value of the underlying collateral. Pass rated assets are not more than 59 days past due and are generally performing in accordance with the loan terms. | ||||||||||||||||||||||||||||
As of December 31, 2013 and June 30, 2013, and based on the most recent analysis performed, the risk category of loans by class of loans is as follows (in thousands): | ||||||||||||||||||||||||||||
31-Dec-13 | Pass | Special Mention | Substandard | Doubtful | Loss | |||||||||||||||||||||||
Real estate loans: | ||||||||||||||||||||||||||||
One-to-four family | $ | 281,339 | $ | 9,746 | $ | 7,900 | $ | — | $ | — | ||||||||||||||||||
Multi-family | 313,297 | 3,996 | 5,646 | — | — | |||||||||||||||||||||||
Commercial | 34,763 | 3,417 | 8,044 | — | — | |||||||||||||||||||||||
Other loans: | ||||||||||||||||||||||||||||
Automobile | 36,178 | 85 | 52 | 2 | 11 | |||||||||||||||||||||||
Home equity | 650 | — | — | — | — | |||||||||||||||||||||||
Other | 14,016 | 25 | 4 | 1 | 6 | |||||||||||||||||||||||
Total loans | $ | 680,243 | $ | 17,269 | $ | 21,646 | $ | 3 | $ | 17 | ||||||||||||||||||
30-Jun-13 | Pass | Special Mention | Substandard | Doubtful | Loss | |||||||||||||||||||||||
Real estate loans: | ||||||||||||||||||||||||||||
One-to-four family | $ | 296,434 | $ | 10,973 | $ | 12,224 | $ | — | $ | — | ||||||||||||||||||
Multi-family | 275,143 | 3,094 | 2,534 | — | — | |||||||||||||||||||||||
Commercial | 43,246 | 3,895 | 8,480 | — | — | |||||||||||||||||||||||
Other loans: | ||||||||||||||||||||||||||||
Automobile | 26,454 | 102 | 137 | 18 | — | |||||||||||||||||||||||
Home equity | 682 | — | — | — | — | |||||||||||||||||||||||
Other | 10,848 | 36 | 23 | 6 | 4 | |||||||||||||||||||||||
Total loans | $ | 652,807 | $ | 18,100 | $ | 23,398 | $ | 24 | $ | 4 | ||||||||||||||||||
Real_Estate_Owned
Real Estate Owned | 6 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Banking and Thrift [Abstract] | ' | |||||||
Real Estate Owned | ' | |||||||
Real Estate Owned | ||||||||
Changes in real estate owned are summarized as follows (in thousands): | ||||||||
Six months ended | ||||||||
31-Dec-13 | 31-Dec-12 | |||||||
Beginning of period | $ | — | $ | 1,280 | ||||
Transfers in | 539 | 521 | ||||||
Capitalized expenditures | 70 | 3 | ||||||
Sales | (325 | ) | (1,279 | ) | ||||
End of period | $ | 284 | $ | 525 | ||||
Net (expenses) income related to foreclosed assets are as follows and are included in net operating expense (in thousands): | ||||||||
Six months ended | ||||||||
December 31, | December 31, | |||||||
2013 | 2012 | |||||||
Net gain on sales | $ | 4 | $ | 88 | ||||
Net operating expense | (19 | ) | (73 | ) | ||||
Total | $ | (15 | ) | $ | 15 | |||
The company has no valuation allowance or activity in the valuation allowance account during the six months ended December 31, 2013 and 2012. |
Federal_Home_Loan_Bank_Advance
Federal Home Loan Bank Advances | 6 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Banking and Thrift [Abstract] | ' | |||||||
Federal Home Loan Bank Advances | ' | |||||||
Federal Home Loan Bank Advances | ||||||||
FHLB advances were $85.0 million and $60.0 million at December 31, 2013 and June 30, 2013, respectively. At December 31, 2013, the stated interest rates on the Bank’s advances from the FHLB ranged from 0.82% to 2.43% with a weighted average stated rate of 1.57%. At June 30, 2013, the stated interest rates on the Bank’s advances from the FHLB ranged from 0.85% to 2.43% with a weighted average stated rate of 1.64%. | ||||||||
The contractual maturities by fiscal year of the Bank’s FHLB advances over the next five years and thereafter are as follows (in thousands): | ||||||||
Fiscal Year of Maturity | December 31, | June 30, | ||||||
2013 | 2013 | |||||||
2014 | $ | — | $ | — | ||||
2015 | 20,000 | 20,000 | ||||||
2016 | — | — | ||||||
2017 | 25,000 | 20,000 | ||||||
2018 | 10,000 | — | ||||||
Thereafter | 30,000 | 20,000 | ||||||
Total | $ | 85,000 | $ | 60,000 | ||||
Change_in_Accumulated_Other_Co
Change in Accumulated Other Comprehensive Loss | 6 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Equity [Abstract] | ' | ||||||||||||
Change in Accumulated Other Comprehensive Loss | ' | ||||||||||||
Change in Accumulated Other Comprehensive Loss | |||||||||||||
Accumulated other comprehensive income includes unrealized gains and losses on securities available-for-sale and actuarial gains and losses, net periodic benefit costs and benefits paid for postretirement medical benefit. Changes in accumulated other comprehensive income are presented net of tax effect as a component of equity. Reclassifications out of accumulated other comprehensive income are recorded on the consolidated statement of income either as a noninterest income or expense. | |||||||||||||
The following tables present a summary of the accumulated other comprehensive income balances, net of tax, as of December 31, 2013 and 2012. | |||||||||||||
Three Months Ended December 31, 2013 | |||||||||||||
(Dollars in Thousands) | Unrealized gains | Postretirement | Total | ||||||||||
and losses on | medical benefits | ||||||||||||
securities | costs items | ||||||||||||
available-for-sale | |||||||||||||
Balance at beginning of period | $ | (307 | ) | $ | (129 | ) | $ | (436 | ) | ||||
Other comprehensive loss before reclassifications | (330 | ) | (17 | ) | (347 | ) | |||||||
Amounts reclassified from accumulated other | — | 17 | 17 | ||||||||||
comprehensive income | |||||||||||||
Tax effect of current period changes | 135 | — | 135 | ||||||||||
Net current period other comprehensive loss | (195 | ) | — | (195 | ) | ||||||||
Balance at end of period | $ | (502 | ) | $ | (129 | ) | $ | (631 | ) | ||||
Three Months Ended December 31, 2012 | |||||||||||||
(Dollars in Thousands) | Unrealized gains | Postretirement | Total | ||||||||||
and losses on | medical benefits | ||||||||||||
securities | costs items | ||||||||||||
available-for-sale | |||||||||||||
Balance at beginning of period | $ | 212 | $ | (252 | ) | $ | (40 | ) | |||||
Other comprehensive income (loss) before reclassifications | 11 | (24 | ) | (13 | ) | ||||||||
Amounts reclassified from accumulated other | — | 24 | 24 | ||||||||||
comprehensive income | |||||||||||||
Tax effect of current period changes | (5 | ) | — | (5 | ) | ||||||||
Net current period other comprehensive income | 6 | — | 6 | ||||||||||
Balance at end of period | $ | 218 | $ | (252 | ) | $ | (34 | ) | |||||
Six Months Ended December 31, 2013 | |||||||||||||
(Dollars in Thousands) | Unrealized gains | Postretirement | Total | ||||||||||
and losses on | medical benefits | ||||||||||||
securities | costs items | ||||||||||||
available-for-sale | |||||||||||||
Balance at beginning of period | $ | (362 | ) | $ | (129 | ) | $ | (491 | ) | ||||
Other comprehensive loss before reclassifications | (237 | ) | (35 | ) | (272 | ) | |||||||
Amounts reclassified from accumulated other | — | 35 | 35 | ||||||||||
comprehensive income | |||||||||||||
Tax effect of current period changes | 97 | — | 97 | ||||||||||
Net current period other comprehensive loss | (140 | ) | — | (140 | ) | ||||||||
Balance at end of period | $ | (502 | ) | $ | (129 | ) | $ | (631 | ) | ||||
Six Months Ended December 31, 2012 | |||||||||||||
(Dollars in Thousands) | Unrealized gains | Postretirement | Total | ||||||||||
and losses on | medical benefits | ||||||||||||
securities | costs items | ||||||||||||
available-for-sale | |||||||||||||
Balance at beginning of period | $ | 83 | $ | (252 | ) | $ | (169 | ) | |||||
Other comprehensive income (loss) before reclassifications | 230 | (48 | ) | 182 | |||||||||
Amounts reclassified from accumulated other | — | 48 | 48 | ||||||||||
comprehensive income | |||||||||||||
Tax effect of current period changes | (95 | ) | — | (95 | ) | ||||||||
Net current period other comprehensive income | 135 | — | 135 | ||||||||||
Balance at end of period | $ | 218 | $ | (252 | ) | $ | (34 | ) | |||||
Repurchase_of_Common_Stock
Repurchase of Common Stock | 6 Months Ended |
Dec. 31, 2013 | |
Equity [Abstract] | ' |
Repurchase of Common Stock | ' |
Repurchase of Common Stock | |
On November 4, 2013, the Company announced that its Board of Directors authorized the fifth stock repurchase program pursuant to which the Company intends to repurchase up to 5% of its issued and outstanding shares, or up to approximately 394,003 shares. Since November 2011, the Company has repurchased 1,901,646 shares under stock repurchase programs. The shares were repurchased at prices ranging from $12.00 to $16.10 per share with a weighted average cost of $14.61 per share. At December 31, 2013, there were 276,805 shares remaining to be repurchased under the fifth authorized stock repurchase program. | |
For the three months ended December 31, 2013, the Company repurchased 235,404 shares at an aggregate cost of $3.7 million, including commissions. The shares were repurchased at prices between $15.32 and $16.10 per share with a weighted average cost of $15.82 per share. For the six months ended December 31, 2013, the Company repurchased 383,979 shares at an aggregate cost of $6.0 million, including commissions. The shares were repurchased at prices between $14.75 and $16.10 per share with a weighted average cost of $15.54. |
Nature_of_Business_and_Signifi1
Nature of Business and Significant Accounting Policies - (Policies) | 6 Months Ended |
Dec. 31, 2013 | |
Accounting Policies [Abstract] | ' |
Principles of Consolidation and Basis of Presentation | ' |
Principles of Consolidation and Basis of Presentation: The financial statements of Simplicity Bancorp, Inc. have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”) and predominant practices followed by the financial services industry. The consolidated financial statements presented in this report include the accounts of Simplicity Bancorp, Inc. and its wholly-owned subsidiary, Simplicity Bank. All material intercompany balances and transactions have been eliminated in consolidation. In the opinion of the Company’s management, all adjustments consisting of normal recurring accruals necessary for a fair presentation of the financial condition and results of operations for the interim periods included herein have been made. | |
The results of operations for the three and six months ended December 31, 2013 are not necessarily indicative of the results of operations that may be expected for any other interim period or for the fiscal year ending June 30, 2014. Certain information and note disclosures normally included in the Company’s annual financial statements have been condensed or omitted. Therefore, these consolidated financial statements and notes thereto should be read in conjunction with the consolidated financial statements and notes included in the 2013 Annual Report on Form 10-K filed with the Securities and Exchange Commission. | |
Use of Estimates in Preparation of Consolidated Financial Statements | ' |
Use of Estimates in the Preparation of Consolidated Financial Statements: The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of income and expenses during the reporting period. Changes in these estimates and assumptions are considered reasonably possible and may have a material impact on the consolidated financial statements and thus actual results could differ from the amounts reported and disclosed herein. Material estimates that are particularly susceptible to significant change in the near term relate to the determination of the allowance for loan losses, the valuation of real estate owned, mortgage servicing assets (“MSAs”), mortgage banking derivatives, deferred tax assets and fair values of financial instruments. | |
Recent Accounting Pronouncements | ' |
Recent Accounting Pronouncements: | |
Adoption of New Accounting Standards: | |
In February 2012, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2013-02, Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income. The amendments do not change the current requirements for reporting net income or other comprehensive income in financial statements. However, the amendments require an entity to provide information about the amounts reclassified out of accumulated other comprehensive income by component. In addition, an entity is required to present, either on the face of the statement where net income is presented or in the notes, significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net income but only if the amount reclassified is required under U.S. GAAP to be reclassified to net income in its entirety in the same reporting period. For other amounts that are not required under U.S. GAAP to be reclassified in their entirety to net income, an entity is required to cross-reference to other disclosures required under U.S. GAAP that provide additional detail about those amounts. For public entities, the amendments are effective prospectively for fiscal years, and interim periods within those years, beginning after December 15, 2012. The adoption of this guidance did not have a material effect on the Company’s result of operations or financial position. |
Earnings_Per_Share_Tables
Earnings Per Share - (Tables) | 6 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||||||
Earnings Per Share Computation | ' | |||||||||||||||
The following table sets forth earnings per share calculations for the three and six months ended December 31, 2013 and 2012: | ||||||||||||||||
Three months ended | Six months ended | |||||||||||||||
December 31, | December 31, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
(Dollars in thousands, except per share data) | ||||||||||||||||
Basic | ||||||||||||||||
Net income | $ | 1,340 | $ | 1,107 | $ | 2,489 | $ | 2,500 | ||||||||
Less: Net income allocated to restricted stock awards | 11 | 9 | 21 | 18 | ||||||||||||
Net income allocated to common shareholders | $ | 1,329 | $ | 1,098 | $ | 2,468 | $ | 2,482 | ||||||||
Weighted average common shares outstanding | 7,410,160 | 8,185,556 | 7,518,064 | 8,309,506 | ||||||||||||
Basic earnings per common share | $ | 0.18 | $ | 0.13 | $ | 0.33 | $ | 0.3 | ||||||||
Diluted | ||||||||||||||||
Net income | $ | 1,340 | $ | 1,107 | $ | 2,489 | $ | 2,500 | ||||||||
Less: Net income allocated to restricted stock awards | 11 | 9 | 21 | 18 | ||||||||||||
Net income allocated to common shareholders | $ | 1,329 | $ | 1,098 | $ | 2,468 | $ | 2,482 | ||||||||
Weighted average common shares outstanding | 7,410,160 | 8,185,556 | 7,518,064 | 8,309,506 | ||||||||||||
Add: Dilutive effect of stock options | 22,642 | 17,226 | 21,082 | 17,786 | ||||||||||||
Average shares and dilutive potential common shares | 7,432,802 | 8,202,782 | 7,539,146 | 8,327,292 | ||||||||||||
Diluted earnings per common share | $ | 0.18 | $ | 0.13 | $ | 0.33 | $ | 0.3 | ||||||||
Fair_Value_Measurements_Tables
Fair Value Measurements - (Tables) | 6 Months Ended | |||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||||||
Assets and Liabilities Measured at Fair Value on Recurring Basis | ' | |||||||||||||||||||
Assets and liabilities measured at fair value on a recurring basis are summarized in the following tables (dollars in thousands): | ||||||||||||||||||||
Fair Value Measurements Using | ||||||||||||||||||||
Total | Quoted Prices in | Significant Other | Significant | |||||||||||||||||
Active Markets for | Observable Inputs | Unobservable | ||||||||||||||||||
Identical Assets | (Level 2) | Inputs | ||||||||||||||||||
(Level 1) | (Level 3) | |||||||||||||||||||
31-Dec-13 | ||||||||||||||||||||
Assets | ||||||||||||||||||||
Available-for-sale securities | ||||||||||||||||||||
Mortgage-backed securities (residential) | $ | 27,264 | $ | — | $ | 27,264 | $ | — | ||||||||||||
Collateralized mortgage obligations (residential) | 17,987 | — | 17,987 | — | ||||||||||||||||
Total available-for-sale securities | $ | 45,251 | $ | — | $ | 45,251 | $ | — | ||||||||||||
June 30, 2013: | ||||||||||||||||||||
Assets | ||||||||||||||||||||
Available-for-sale securities | ||||||||||||||||||||
Mortgage-backed securities (residential) | $ | 30,075 | $ | — | $ | 30,075 | $ | — | ||||||||||||
Collateralized mortgage obligations (residential) | 22,105 | — | 22,105 | — | ||||||||||||||||
Total available-for-sale securities | $ | 52,180 | $ | — | $ | 52,180 | $ | — | ||||||||||||
Assets Measured at Fair Value on Non Recurring Basis | ' | |||||||||||||||||||
The following assets were measured at fair value on a non-recurring basis (dollars in thousands): | ||||||||||||||||||||
Fair Value Measurements Using | ||||||||||||||||||||
Total | Quoted Prices in | Significant Other | Significant | |||||||||||||||||
Active Markets for | Observable Inputs | Unobservable | ||||||||||||||||||
Identical Assets | (Level 2) | Inputs | ||||||||||||||||||
(Level 1) | (Level 3) | |||||||||||||||||||
Assets at December 31, 2013: | ||||||||||||||||||||
MSAs | $ | 16 | $ | — | $ | — | $ | 16 | ||||||||||||
Assets at June 30, 2013: | ||||||||||||||||||||
Impaired Loans | ||||||||||||||||||||
One-to-four family residential | $ | 1,495 | $ | — | $ | — | $ | 1,495 | ||||||||||||
Loans Held for Sale | $ | 4,496 | $ | — | $ | 4,496 | $ | — | ||||||||||||
MSAs | $ | 195 | $ | — | $ | — | $ | 195 | ||||||||||||
Quantitative Information about Level Three Fair Value Measurements for Financial Instruments Measured at Fair Value on Recurring and Non-Recurring Basis | ' | |||||||||||||||||||
The following table presents quantitative information about level 3 fair value measurements for financial instruments measured at fair value on a recurring and non-recurring basis as of the dates indicated (dollars in thousands): | ||||||||||||||||||||
31-Dec-13 | Fair Value | Valuation Techniques | Unobservable Inputs | Range | ||||||||||||||||
(Weighted Avg) | ||||||||||||||||||||
MSAs | $ | 16 | Discounted Cash Flow | Discount Rate | 8.50% | |||||||||||||||
Prepayment speed ("CPR") | 5.37% to 11.40% (6.78%) | |||||||||||||||||||
30-Jun-13 | Fair Value | Valuation Techniques | Unobservable Inputs | Range | ||||||||||||||||
(Weighted Avg) | ||||||||||||||||||||
Impaired Loans | ||||||||||||||||||||
One-to-four family residential | $ | 1,495 | Sales Comparison Approach | Adjustment for the differences between the comparable sales | -8.7% to 8.5% (-1.45%) | |||||||||||||||
MSAs | 195 | Discounted Cash Flow | Discount Rate | 7.50% | ||||||||||||||||
Carrying Amounts and Estimated Fair Values of Financial Instruments | ' | |||||||||||||||||||
The carrying amounts and estimated fair values of the Company’s financial instruments are summarized as follows (in thousands): | ||||||||||||||||||||
Fair Value Measurements at December 31, 2013 Using: | ||||||||||||||||||||
Carrying | Quoted Prices in Active | Significant Other | Significant | Fair | ||||||||||||||||
Amount | Markets for Identical Assets | Observable Inputs | Unobservable Inputs | Value | ||||||||||||||||
(Level 1) | (Level 2) | (Level 3) | ||||||||||||||||||
Financial assets: | ||||||||||||||||||||
Cash on hand | $ | 9,035 | $ | 9,035 | $ | — | $ | — | $ | 9,035 | ||||||||||
Federal funds sold | 48,610 | — | 48,610 | — | 48,610 | |||||||||||||||
Securities held-to-maturity | 444 | — | 456 | — | 456 | |||||||||||||||
Federal Home Loan Bank Stock | 5,902 | — | — | — | — | |||||||||||||||
Loans held for sale | 2,141 | — | 2,173 | — | 2,173 | |||||||||||||||
Loans receivable, net | 714,711 | — | — | 728,187 | 728,187 | |||||||||||||||
MSAs | 691 | — | — | 999 | 999 | |||||||||||||||
Accrued interest receivable - loans | 2,245 | — | — | 2,245 | 2,245 | |||||||||||||||
Accrued interest receivable - investments | 81 | — | 81 | — | 81 | |||||||||||||||
Financial liabilities: | ||||||||||||||||||||
Deposits | 624,478 | — | 628,955 | — | 628,955 | |||||||||||||||
FHLB Advances | 85,000 | — | 85,758 | — | 85,758 | |||||||||||||||
Fair Value Measurements at June 30, 2013 Using: | ||||||||||||||||||||
Carrying | Quoted Prices in Active | Significant Other | Significant | Fair | ||||||||||||||||
Amount | Markets for Identical Assets | Observable Inputs | Unobservable Inputs | Value | ||||||||||||||||
(Level 1) | (Level 2) | (Level 3) | ||||||||||||||||||
Financial assets: | ||||||||||||||||||||
Cash on hand | $ | 8,864 | $ | 8,864 | $ | — | $ | — | $ | 8,864 | ||||||||||
Federal funds sold | 76,810 | — | 76,810 | — | 76,810 | |||||||||||||||
Securities held-to-maturity | 525 | — | 541 | — | 541 | |||||||||||||||
Federal Home Loan Bank Stock | 5,902 | — | — | — | — | |||||||||||||||
Loans held for sale | 4,496 | — | 4,496 | — | 4,496 | |||||||||||||||
Loans receivable, net | 688,213 | — | — | 710,219 | 710,219 | |||||||||||||||
MSAs | 407 | — | — | 494 | 494 | |||||||||||||||
Accrued interest receivable - loans | 2,344 | — | — | 2,344 | 2,344 | |||||||||||||||
Accrued interest receivable - investments | 93 | — | 93 | — | 93 | |||||||||||||||
Financial liabilities: | ||||||||||||||||||||
Deposits | 654,646 | — | 660,995 | — | 660,995 | |||||||||||||||
FHLB Advances | 60,000 | — | 61,451 | — | 61,451 | |||||||||||||||
Investments_Tables
Investments - (Tables) | 6 Months Ended | |||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ' | |||||||||||||||||||||||
Amortized Cost and Fair Value of Available for Sale Securities and Related Gross Unrealized Gains and Losses Recognized in Accumulated Other Comprehensive Income | ' | |||||||||||||||||||||||
The amortized cost and fair value of available-for-sale securities and the related gross unrealized gains and losses recognized in accumulated other comprehensive income were as follows (in thousands): | ||||||||||||||||||||||||
Fair | Gross | Gross | Amortized | |||||||||||||||||||||
Value | Unrealized | Unrealized | Cost | |||||||||||||||||||||
Gains | Losses | |||||||||||||||||||||||
31-Dec-13 | ||||||||||||||||||||||||
Mortgage-backed (residential): | ||||||||||||||||||||||||
Fannie Mae | $ | 7,469 | $ | 13 | $ | (10 | ) | $ | 7,466 | |||||||||||||||
Freddie Mac | 19,795 | — | (855 | ) | 20,650 | |||||||||||||||||||
Collateralized mortgage obligations (residential): | ||||||||||||||||||||||||
Fannie Mae | 10,232 | 10 | (23 | ) | 10,245 | |||||||||||||||||||
Freddie Mac | 7,755 | 35 | — | 7,720 | ||||||||||||||||||||
Total | $ | 45,251 | $ | 58 | $ | (888 | ) | $ | 46,081 | |||||||||||||||
30-Jun-13 | ||||||||||||||||||||||||
Mortgage-backed (residential): | ||||||||||||||||||||||||
Fannie Mae | $ | 8,510 | $ | 9 | $ | (17 | ) | $ | 8,518 | |||||||||||||||
Freddie Mac | 21,565 | — | (662 | ) | 22,227 | |||||||||||||||||||
Collateralized mortgage obligations (residential): | ||||||||||||||||||||||||
Fannie Mae | 13,125 | 59 | (39 | ) | 13,105 | |||||||||||||||||||
Freddie Mac | 8,980 | 57 | — | 8,923 | ||||||||||||||||||||
Total | $ | 52,180 | $ | 125 | $ | (718 | ) | $ | 52,773 | |||||||||||||||
Carrying Amount Unrecognized Gains and Losses and Fair Value of Securities Held to Maturity | ' | |||||||||||||||||||||||
The carrying amount, unrecognized gains and losses, and fair value of securities held-to-maturity were as follows (in thousands): | ||||||||||||||||||||||||
Carrying | Gross | Gross | Fair | |||||||||||||||||||||
Amount | Unrecognized | Unrecognized | Value | |||||||||||||||||||||
Gains | Losses | |||||||||||||||||||||||
31-Dec-13 | ||||||||||||||||||||||||
Mortgage-backed (residential): | ||||||||||||||||||||||||
Fannie Mae | $ | 106 | $ | 3 | $ | — | $ | 109 | ||||||||||||||||
Freddie Mac | 66 | 4 | — | 70 | ||||||||||||||||||||
Ginnie Mae | 33 | 1 | — | 34 | ||||||||||||||||||||
Collateralized mortgage obligations (residential): | ||||||||||||||||||||||||
Fannie Mae | 239 | 4 | — | 243 | ||||||||||||||||||||
Freddie Mac | — | — | — | — | ||||||||||||||||||||
Total | $ | 444 | $ | 12 | $ | — | $ | 456 | ||||||||||||||||
June 30, 2013 | ||||||||||||||||||||||||
Mortgage-backed (residential): | ||||||||||||||||||||||||
Fannie Mae | $ | 119 | $ | 4 | $ | — | $ | 123 | ||||||||||||||||
Freddie Mac | 74 | 5 | — | 79 | ||||||||||||||||||||
Ginnie Mae | 36 | 2 | — | 38 | ||||||||||||||||||||
Collateralized mortgage obligations (residential): | ||||||||||||||||||||||||
Fannie Mae | 296 | 5 | — | 301 | ||||||||||||||||||||
Freddie Mac | — | — | — | — | ||||||||||||||||||||
Total | $ | 525 | $ | 16 | $ | — | $ | 541 | ||||||||||||||||
Securities with Continuous Unrealized Losses Position Aggregated by Investment Category and Length of Time | ' | |||||||||||||||||||||||
Securities with unrealized losses at December 31, 2013 and June 30, 2013, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, are as follows (in thousands): | ||||||||||||||||||||||||
Less than 12 months | 12 months or more | Total | ||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||||||
Value | Loss | Value | Loss | Value | Loss | |||||||||||||||||||
31-Dec-13 | ||||||||||||||||||||||||
Description of Securities | ||||||||||||||||||||||||
Mortgage-backed securities | $ | 21,843 | $ | (865 | ) | $ | — | $ | — | $ | 21,843 | $ | (865 | ) | ||||||||||
Collateralized mortgage obligations (residential) | 4,720 | (5 | ) | 1,863 | (18 | ) | 6,583 | (23 | ) | |||||||||||||||
Total temporarily impaired | $ | 26,563 | $ | (870 | ) | $ | 1,863 | $ | (18 | ) | $ | 28,426 | $ | (888 | ) | |||||||||
June 30, 2013 | ||||||||||||||||||||||||
Description of Securities | ||||||||||||||||||||||||
Mortgage-backed securities | $ | 25,476 | $ | (680 | ) | $ | — | $ | — | $ | 25,476 | $ | (680 | ) | ||||||||||
Collateralized mortgage obligations (residential) | — | — | 2,508 | (39 | ) | 2,508 | (39 | ) | ||||||||||||||||
Total temporarily impaired | $ | 25,476 | $ | (680 | ) | $ | 2,508 | $ | (39 | ) | $ | 27,984 | $ | (719 | ) | |||||||||
Loans_Tables
Loans - (Tables) | 6 Months Ended | |||||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||||
Receivables [Abstract] | ' | |||||||||||||||||||||||||||
Composition of Loans | ' | |||||||||||||||||||||||||||
The composition of loans consists of the following (in thousands): | ||||||||||||||||||||||||||||
December 31, | June 30, | |||||||||||||||||||||||||||
2013 | 2013 | |||||||||||||||||||||||||||
Real Estate: | ||||||||||||||||||||||||||||
One-to-four family residential | $ | 298,985 | $ | 319,631 | ||||||||||||||||||||||||
Multi-family residential | 322,939 | 280,771 | ||||||||||||||||||||||||||
Commercial real estate | 46,224 | 55,621 | ||||||||||||||||||||||||||
668,148 | 656,023 | |||||||||||||||||||||||||||
Consumer: | ||||||||||||||||||||||||||||
Automobile | 36,328 | 26,711 | ||||||||||||||||||||||||||
Home equity | 650 | 682 | ||||||||||||||||||||||||||
Other consumer loans, primarily unsecured | 14,052 | 10,917 | ||||||||||||||||||||||||||
51,030 | 38,310 | |||||||||||||||||||||||||||
Total loans | 719,178 | 694,333 | ||||||||||||||||||||||||||
Deferred net loan origination costs | 263 | 506 | ||||||||||||||||||||||||||
Net premium on purchased loans | 309 | 512 | ||||||||||||||||||||||||||
Allowance for loan losses | (5,039 | ) | (5,643 | ) | ||||||||||||||||||||||||
Loans receivable, net | $ | 714,711 | $ | 689,708 | ||||||||||||||||||||||||
Analysis of Changes in Allowance for Loan Losses | ' | |||||||||||||||||||||||||||
The following is an analysis of the changes in the allowance for loan losses (in thousands): | ||||||||||||||||||||||||||||
Allowance for loan losses for the | ||||||||||||||||||||||||||||
Three months ended December 31, 2013 | ||||||||||||||||||||||||||||
One-to-four | Multi-family | Commercial | Automobile | Home | Other | Total | ||||||||||||||||||||||
family | residential | real estate | equity | |||||||||||||||||||||||||
Balance, beginning of period | $ | 2,628 | $ | 1,287 | $ | 1,408 | $ | 112 | $ | 4 | $ | 48 | $ | 5,487 | ||||||||||||||
Provision for loan losses | (247 | ) | (94 | ) | (222 | ) | 27 | (1 | ) | 237 | (300 | ) | ||||||||||||||||
Recoveries | 6 | — | — | 20 | — | 2 | 28 | |||||||||||||||||||||
Loans charged-off | — | (131 | ) | — | (36 | ) | — | (9 | ) | (176 | ) | |||||||||||||||||
Balance, end of period | $ | 2,387 | $ | 1,062 | $ | 1,186 | $ | 123 | $ | 3 | $ | 278 | $ | 5,039 | ||||||||||||||
Allowance for loan losses for the | ||||||||||||||||||||||||||||
Three months ended December 31, 2012 | ||||||||||||||||||||||||||||
One-to-four | Multi-family | Commercial | Automobile | Home | Other | Total | ||||||||||||||||||||||
family | residential | real estate | equity | |||||||||||||||||||||||||
Balance, beginning of period | $ | 4,521 | $ | 1,057 | $ | 672 | $ | 88 | $ | 26 | $ | 28 | $ | 6,392 | ||||||||||||||
Provision for loan losses | 490 | (231 | ) | 369 | (14 | ) | (32 | ) | 18 | 600 | ||||||||||||||||||
Recoveries | 2 | — | — | 22 | 6 | 3 | 33 | |||||||||||||||||||||
Loans charged-off | (388 | ) | — | — | (11 | ) | — | (6 | ) | (405 | ) | |||||||||||||||||
Balance, end of period | $ | 4,625 | $ | 826 | $ | 1,041 | $ | 85 | $ | — | $ | 43 | $ | 6,620 | ||||||||||||||
Allowance for loan losses for the | ||||||||||||||||||||||||||||
Six Months Ended December 31, 2013 | ||||||||||||||||||||||||||||
One-to-four | Multi-family | Commercial | Automobile | Home | Other | Total | ||||||||||||||||||||||
family | residential | real estate | equity | |||||||||||||||||||||||||
Balance, beginning of period | $ | 3,009 | $ | 839 | $ | 1,654 | $ | 83 | $ | 4 | $ | 54 | $ | 5,643 | ||||||||||||||
Provision for loan losses | (599 | ) | 454 | (469 | ) | 74 | (1 | ) | 241 | (300 | ) | |||||||||||||||||
Recoveries | 10 | — | 1 | 28 | — | 3 | 42 | |||||||||||||||||||||
Loans charged-off | (33 | ) | (231 | ) | — | (62 | ) | — | (20 | ) | (346 | ) | ||||||||||||||||
Balance, end of period | $ | 2,387 | $ | 1,062 | $ | 1,186 | $ | 123 | $ | 3 | $ | 278 | $ | 5,039 | ||||||||||||||
Allowance for loan losses for the | ||||||||||||||||||||||||||||
Six Months Ended December 31, 2012 | ||||||||||||||||||||||||||||
One-to-four | Multi-family | Commercial | Automobile | Home | Other | Total | ||||||||||||||||||||||
family | residential | real estate | equity | |||||||||||||||||||||||||
Balance, beginning of period | $ | 4,692 | $ | 1,519 | $ | 1,131 | $ | 62 | $ | 63 | $ | 35 | $ | 7,502 | ||||||||||||||
Provision for loan losses | 1,454 | (469 | ) | 437 | 26 | (13 | ) | 15 | 1,450 | |||||||||||||||||||
Recoveries | 43 | — | — | 29 | 6 | 4 | 82 | |||||||||||||||||||||
Loans charged-off | (1,564 | ) | (224 | ) | (527 | ) | (32 | ) | (56 | ) | (11 | ) | (2,414 | ) | ||||||||||||||
Balance, end of period | $ | 4,625 | $ | 826 | $ | 1,041 | $ | 85 | $ | — | $ | 43 | $ | 6,620 | ||||||||||||||
Allowance for Loan Losses and Recorded Investment in Loans by Portfolio Segment and Based on Impairment Method | ' | |||||||||||||||||||||||||||
The following tables present the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment and based on impairment method as of December 31, 2013 and June 30, 2013 (in thousands): | ||||||||||||||||||||||||||||
31-Dec-13 | One-to-four | Multi-family | Commercial | Automobile | Home | Other | Total | |||||||||||||||||||||
family | residential | real estate | equity | |||||||||||||||||||||||||
Allowance for loan losses: | ||||||||||||||||||||||||||||
Ending allowance balance attributed to loans: | ||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 918 | $ | — | $ | 58 | $ | 11 | $ | — | $ | 6 | $ | 993 | ||||||||||||||
Collectively evaluated for impairment | 1,469 | 1,062 | 1,128 | 112 | 3 | 272 | 4,046 | |||||||||||||||||||||
Total ending allowance balance | $ | 2,387 | $ | 1,062 | $ | 1,186 | $ | 123 | $ | 3 | $ | 278 | $ | 5,039 | ||||||||||||||
One-to-four | Multi-family | Commercial | Automobile | Home | Other | Total | ||||||||||||||||||||||
family | residential | real estate | equity | |||||||||||||||||||||||||
Loans: | ||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 13,143 | $ | 2,187 | $ | 5,720 | $ | 11 | $ | — | $ | 6 | $ | 21,067 | ||||||||||||||
Collectively evaluated for impairment | 285,842 | 320,752 | 40,504 | 36,317 | 650 | 14,046 | 698,111 | |||||||||||||||||||||
Total ending loan balance | $ | 298,985 | $ | 322,939 | $ | 46,224 | $ | 36,328 | $ | 650 | $ | 14,052 | $ | 719,178 | ||||||||||||||
30-Jun-13 | One-to-four | Multi-family | Commercial | Automobile | Home | Other | Total | |||||||||||||||||||||
family | residential | real estate | equity | |||||||||||||||||||||||||
Allowance for loan losses: | ||||||||||||||||||||||||||||
Ending allowance balance attributed to loans: | ||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 941 | $ | — | $ | 64 | $ | — | $ | — | $ | 4 | $ | 1,009 | ||||||||||||||
Collectively evaluated for impairment | 2,068 | 839 | 1,590 | 83 | 4 | 50 | 4,634 | |||||||||||||||||||||
Total ending allowance balance | $ | 3,009 | $ | 839 | $ | 1,654 | $ | 83 | $ | 4 | $ | 54 | $ | 5,643 | ||||||||||||||
One-to-four | Multi-family | Commercial | Automobile | Home | Other | Total | ||||||||||||||||||||||
family | residential | real estate | equity | |||||||||||||||||||||||||
Loans: | ||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 14,790 | $ | 1,547 | $ | 6,136 | $ | — | $ | — | $ | 4 | $ | 22,477 | ||||||||||||||
Collectively evaluated for impairment | 304,841 | 279,224 | 49,485 | 26,711 | 682 | 10,913 | 671,856 | |||||||||||||||||||||
Total ending loan balance | $ | 319,631 | $ | 280,771 | $ | 55,621 | $ | 26,711 | $ | 682 | $ | 10,917 | $ | 694,333 | ||||||||||||||
Loans Individually Evaluated for Impairment by Class of Loans | ' | |||||||||||||||||||||||||||
The following tables present loans individually evaluated for impairment by class of loans as of December 31, 2013 and June 30, 2013 (in thousands): | ||||||||||||||||||||||||||||
31-Dec-13 | Unpaid Principal | Recorded | Allowance for Loan | |||||||||||||||||||||||||
Balance | Investment | Losses Allocated | ||||||||||||||||||||||||||
With no related allowance recorded: | ||||||||||||||||||||||||||||
Real estate loans: | ||||||||||||||||||||||||||||
One-to-four family | $ | 7,063 | $ | 6,044 | $ | — | ||||||||||||||||||||||
Multi-family residential | 2,655 | 2,186 | — | |||||||||||||||||||||||||
Commercial real estate | 5,348 | 4,537 | — | |||||||||||||||||||||||||
15,066 | 12,767 | — | ||||||||||||||||||||||||||
With an allowance recorded: | ||||||||||||||||||||||||||||
Real estate loans: | ||||||||||||||||||||||||||||
One-to-four family | 7,360 | 7,099 | 918 | |||||||||||||||||||||||||
Multi-family residential | — | — | — | |||||||||||||||||||||||||
Commercial real estate | 1,184 | 1,184 | 58 | |||||||||||||||||||||||||
Other loans: | ||||||||||||||||||||||||||||
Automobile | 11 | 11 | 11 | |||||||||||||||||||||||||
Other | 6 | 6 | 6 | |||||||||||||||||||||||||
8,561 | 8,300 | 993 | ||||||||||||||||||||||||||
Total | $ | 23,627 | $ | 21,067 | $ | 993 | ||||||||||||||||||||||
30-Jun-13 | Unpaid Principal | Recorded | Allowance for Loan | |||||||||||||||||||||||||
Balance | Investment | Losses Allocated | ||||||||||||||||||||||||||
With no related allowance recorded: | ||||||||||||||||||||||||||||
Real estate loans: | ||||||||||||||||||||||||||||
One-to-four family | $ | 7,909 | $ | 6,796 | $ | — | ||||||||||||||||||||||
Multi-family residential | 1,961 | 1,547 | — | |||||||||||||||||||||||||
Commercial real estate | 5,704 | 4,940 | — | |||||||||||||||||||||||||
15,574 | 13,283 | — | ||||||||||||||||||||||||||
With an allowance recorded: | ||||||||||||||||||||||||||||
Real estate loans: | ||||||||||||||||||||||||||||
One-to-four family | 8,227 | 7,994 | 941 | |||||||||||||||||||||||||
Multi-family residential | — | — | — | |||||||||||||||||||||||||
Commercial real estate | 1,196 | 1,196 | 64 | |||||||||||||||||||||||||
Other loans: | ||||||||||||||||||||||||||||
Other | 4 | 4 | 4 | |||||||||||||||||||||||||
9,427 | 9,194 | 1,009 | ||||||||||||||||||||||||||
Total | $ | 25,001 | $ | 22,477 | $ | 1,009 | ||||||||||||||||||||||
Monthly Average of Individually Impaired Loans by Class | ' | |||||||||||||||||||||||||||
The following table presents monthly average of individually impaired loans by class for the three and six months ended December 31, 2013 and 2012 (in thousands): | ||||||||||||||||||||||||||||
Three months ended | Six months ended | |||||||||||||||||||||||||||
December 31, | December 31, | |||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||
Real estate loan: | ||||||||||||||||||||||||||||
One-to-four family | $ | 13,561 | $ | 19,007 | $ | 13,971 | $ | 19,182 | ||||||||||||||||||||
Multi-family residential | 1,921 | 2,178 | 1,796 | 2,261 | ||||||||||||||||||||||||
Commercial real estate | 5,744 | 5,391 | 5,875 | 4,999 | ||||||||||||||||||||||||
Other loans: | ||||||||||||||||||||||||||||
Home Equity | — | — | — | 12 | ||||||||||||||||||||||||
Total | $ | 21,226 | $ | 26,576 | $ | 21,642 | $ | 26,454 | ||||||||||||||||||||
Interest Payments Recorded as Reduction of Principal on Impaired Loans by Class | ' | |||||||||||||||||||||||||||
The following table presents interest payments recorded as reduction of principal on impaired loans by class (in thousands): | ||||||||||||||||||||||||||||
Three months ended | Six months ended | |||||||||||||||||||||||||||
December 31, | December 31, | |||||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||||||||||
Real estate loan: | ||||||||||||||||||||||||||||
One-to-four family | $ | 102 | $ | 139 | $ | 195 | $ | 192 | ||||||||||||||||||||
Multi-family residential | 28 | 26 | 58 | 35 | ||||||||||||||||||||||||
Commercial real estate | 25 | 89 | 53 | 119 | ||||||||||||||||||||||||
Total | $ | 155 | $ | 254 | $ | 306 | $ | 346 | ||||||||||||||||||||
Nonaccrual Loans by Class of Loans | ' | |||||||||||||||||||||||||||
The following table presents non-accrual loans by class of loans (in thousands): | ||||||||||||||||||||||||||||
Non-accrual loans: | 31-Dec-13 | 30-Jun-13 | ||||||||||||||||||||||||||
Real estate loans: | ||||||||||||||||||||||||||||
One-to-four family | $ | 6,416 | $ | 10,310 | ||||||||||||||||||||||||
Multi-family residential | 1,698 | 1,547 | ||||||||||||||||||||||||||
Commercial | 3,653 | 4,045 | ||||||||||||||||||||||||||
Other loans: | ||||||||||||||||||||||||||||
Automobile | 11 | 14 | ||||||||||||||||||||||||||
Other | 6 | 4 | ||||||||||||||||||||||||||
Total non-accrual loans | $ | 11,784 | $ | 15,920 | ||||||||||||||||||||||||
Aging of Past Due Loans | ' | |||||||||||||||||||||||||||
The following tables present the aging of past due loans by class of loans (in thousands): | ||||||||||||||||||||||||||||
31-Dec-13 | 30-59 Days | 60-89 Days | 90 Days or | Total | Total | Total Loans | ||||||||||||||||||||||
Delinquent | Delinquent | More | Delinquent | Current | ||||||||||||||||||||||||
Delinquent | Loans | Loans | ||||||||||||||||||||||||||
Real estate loans: | ||||||||||||||||||||||||||||
One-to-four family | $ | 1,604 | $ | 1,257 | $ | 739 | $ | 3,600 | $ | 295,385 | $ | 298,985 | ||||||||||||||||
Multi-family | 659 | — | 545 | 1,204 | 321,735 | 322,939 | ||||||||||||||||||||||
Commercial | 960 | — | 2,545 | 3,505 | 42,719 | 46,224 | ||||||||||||||||||||||
Other loans: | ||||||||||||||||||||||||||||
Automobile | 78 | — | 11 | 89 | 36,239 | 36,328 | ||||||||||||||||||||||
Home Equity | — | — | — | — | 650 | 650 | ||||||||||||||||||||||
Other | 16 | 11 | 5 | 32 | 14,020 | 14,052 | ||||||||||||||||||||||
Total loans | $ | 3,317 | $ | 1,268 | $ | 3,845 | $ | 8,430 | $ | 710,748 | $ | 719,178 | ||||||||||||||||
30-Jun-13 | 30-59 Days | 60-89 Days | 90 Days or | Total | Total | Total Loans | ||||||||||||||||||||||
Delinquent | Delinquent | More | Delinquent | Current | ||||||||||||||||||||||||
Delinquent | Loans | Loans | ||||||||||||||||||||||||||
Real estate loans: | ||||||||||||||||||||||||||||
One-to-four family | $ | 389 | $ | 970 | $ | 1,751 | $ | 3,110 | $ | 316,521 | $ | 319,631 | ||||||||||||||||
Multi-family | — | 198 | — | 198 | 280,573 | 280,771 | ||||||||||||||||||||||
Commercial | — | 2,545 | — | 2,545 | 53,076 | 55,621 | ||||||||||||||||||||||
Other loans: | ||||||||||||||||||||||||||||
Automobile | 32 | — | 14 | 46 | 26,665 | 26,711 | ||||||||||||||||||||||
Home Equity | 143 | — | — | 143 | 539 | 682 | ||||||||||||||||||||||
Other | 20 | 2 | 4 | 26 | 10,891 | 10,917 | ||||||||||||||||||||||
Total loans | $ | 584 | $ | 3,715 | $ | 1,769 | $ | 6,068 | $ | 688,265 | $ | 694,333 | ||||||||||||||||
Risk Category of Loans by Class of Loans | ' | |||||||||||||||||||||||||||
As of December 31, 2013 and June 30, 2013, and based on the most recent analysis performed, the risk category of loans by class of loans is as follows (in thousands): | ||||||||||||||||||||||||||||
31-Dec-13 | Pass | Special Mention | Substandard | Doubtful | Loss | |||||||||||||||||||||||
Real estate loans: | ||||||||||||||||||||||||||||
One-to-four family | $ | 281,339 | $ | 9,746 | $ | 7,900 | $ | — | $ | — | ||||||||||||||||||
Multi-family | 313,297 | 3,996 | 5,646 | — | — | |||||||||||||||||||||||
Commercial | 34,763 | 3,417 | 8,044 | — | — | |||||||||||||||||||||||
Other loans: | ||||||||||||||||||||||||||||
Automobile | 36,178 | 85 | 52 | 2 | 11 | |||||||||||||||||||||||
Home equity | 650 | — | — | — | — | |||||||||||||||||||||||
Other | 14,016 | 25 | 4 | 1 | 6 | |||||||||||||||||||||||
Total loans | $ | 680,243 | $ | 17,269 | $ | 21,646 | $ | 3 | $ | 17 | ||||||||||||||||||
30-Jun-13 | Pass | Special Mention | Substandard | Doubtful | Loss | |||||||||||||||||||||||
Real estate loans: | ||||||||||||||||||||||||||||
One-to-four family | $ | 296,434 | $ | 10,973 | $ | 12,224 | $ | — | $ | — | ||||||||||||||||||
Multi-family | 275,143 | 3,094 | 2,534 | — | — | |||||||||||||||||||||||
Commercial | 43,246 | 3,895 | 8,480 | — | — | |||||||||||||||||||||||
Other loans: | ||||||||||||||||||||||||||||
Automobile | 26,454 | 102 | 137 | 18 | — | |||||||||||||||||||||||
Home equity | 682 | — | — | — | — | |||||||||||||||||||||||
Other | 10,848 | 36 | 23 | 6 | 4 | |||||||||||||||||||||||
Total loans | $ | 652,807 | $ | 18,100 | $ | 23,398 | $ | 24 | $ | 4 | ||||||||||||||||||
Real_Estate_Owned_Tables
Real Estate Owned - (Tables) | 6 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Banking and Thrift [Abstract] | ' | |||||||
Changes in Real Estate Owned | ' | |||||||
Changes in real estate owned are summarized as follows (in thousands): | ||||||||
Six months ended | ||||||||
31-Dec-13 | 31-Dec-12 | |||||||
Beginning of period | $ | — | $ | 1,280 | ||||
Transfers in | 539 | 521 | ||||||
Capitalized expenditures | 70 | 3 | ||||||
Sales | (325 | ) | (1,279 | ) | ||||
End of period | $ | 284 | $ | 525 | ||||
Net Income (Expenses) Related to Foreclosed Assets Included in Other Operating Expense | ' | |||||||
Net (expenses) income related to foreclosed assets are as follows and are included in net operating expense (in thousands): | ||||||||
Six months ended | ||||||||
December 31, | December 31, | |||||||
2013 | 2012 | |||||||
Net gain on sales | $ | 4 | $ | 88 | ||||
Net operating expense | (19 | ) | (73 | ) | ||||
Total | $ | (15 | ) | $ | 15 | |||
Federal_Home_Loan_Bank_Advance1
Federal Home Loan Bank Advances - (Tables) | 6 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Banking and Thrift [Abstract] | ' | |||||||
Contractual Maturities of Federal Home Loan Bank Advances by Year | ' | |||||||
The contractual maturities by fiscal year of the Bank’s FHLB advances over the next five years and thereafter are as follows (in thousands): | ||||||||
Fiscal Year of Maturity | December 31, | June 30, | ||||||
2013 | 2013 | |||||||
2014 | $ | — | $ | — | ||||
2015 | 20,000 | 20,000 | ||||||
2016 | — | — | ||||||
2017 | 25,000 | 20,000 | ||||||
2018 | 10,000 | — | ||||||
Thereafter | 30,000 | 20,000 | ||||||
Total | $ | 85,000 | $ | 60,000 | ||||
Change_in_Accumulated_Other_Co1
Change in Accumulated Other Comprehensive Loss - (Tables) | 6 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Equity [Abstract] | ' | ||||||||||||
Summary of Accumulated Other Comprehensive Income Balances, Net of Tax | ' | ||||||||||||
The following tables present a summary of the accumulated other comprehensive income balances, net of tax, as of December 31, 2013 and 2012. | |||||||||||||
Three Months Ended December 31, 2013 | |||||||||||||
(Dollars in Thousands) | Unrealized gains | Postretirement | Total | ||||||||||
and losses on | medical benefits | ||||||||||||
securities | costs items | ||||||||||||
available-for-sale | |||||||||||||
Balance at beginning of period | $ | (307 | ) | $ | (129 | ) | $ | (436 | ) | ||||
Other comprehensive loss before reclassifications | (330 | ) | (17 | ) | (347 | ) | |||||||
Amounts reclassified from accumulated other | — | 17 | 17 | ||||||||||
comprehensive income | |||||||||||||
Tax effect of current period changes | 135 | — | 135 | ||||||||||
Net current period other comprehensive loss | (195 | ) | — | (195 | ) | ||||||||
Balance at end of period | $ | (502 | ) | $ | (129 | ) | $ | (631 | ) | ||||
Six Months Ended December 31, 2013 | |||||||||||||
(Dollars in Thousands) | Unrealized gains | Postretirement | Total | ||||||||||
and losses on | medical benefits | ||||||||||||
securities | costs items | ||||||||||||
available-for-sale | |||||||||||||
Balance at beginning of period | $ | (362 | ) | $ | (129 | ) | $ | (491 | ) | ||||
Other comprehensive loss before reclassifications | (237 | ) | (35 | ) | (272 | ) | |||||||
Amounts reclassified from accumulated other | — | 35 | 35 | ||||||||||
comprehensive income | |||||||||||||
Tax effect of current period changes | 97 | — | 97 | ||||||||||
Net current period other comprehensive loss | (140 | ) | — | (140 | ) | ||||||||
Balance at end of period | $ | (502 | ) | $ | (129 | ) | $ | (631 | ) | ||||
Three Months Ended December 31, 2012 | |||||||||||||
(Dollars in Thousands) | Unrealized gains | Postretirement | Total | ||||||||||
and losses on | medical benefits | ||||||||||||
securities | costs items | ||||||||||||
available-for-sale | |||||||||||||
Balance at beginning of period | $ | 212 | $ | (252 | ) | $ | (40 | ) | |||||
Other comprehensive income (loss) before reclassifications | 11 | (24 | ) | (13 | ) | ||||||||
Amounts reclassified from accumulated other | — | 24 | 24 | ||||||||||
comprehensive income | |||||||||||||
Tax effect of current period changes | (5 | ) | — | (5 | ) | ||||||||
Net current period other comprehensive income | 6 | — | 6 | ||||||||||
Balance at end of period | $ | 218 | $ | (252 | ) | $ | (34 | ) | |||||
Six Months Ended December 31, 2012 | |||||||||||||
(Dollars in Thousands) | Unrealized gains | Postretirement | Total | ||||||||||
and losses on | medical benefits | ||||||||||||
securities | costs items | ||||||||||||
available-for-sale | |||||||||||||
Balance at beginning of period | $ | 83 | $ | (252 | ) | $ | (169 | ) | |||||
Other comprehensive income (loss) before reclassifications | 230 | (48 | ) | 182 | |||||||||
Amounts reclassified from accumulated other | — | 48 | 48 | ||||||||||
comprehensive income | |||||||||||||
Tax effect of current period changes | (95 | ) | — | (95 | ) | ||||||||
Net current period other comprehensive income | 135 | — | 135 | ||||||||||
Balance at end of period | $ | 218 | $ | (252 | ) | $ | (34 | ) | |||||
Earnings_Per_Share_Computation
Earnings Per Share - Computation (Detail) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 |
Basic | ' | ' | ' | ' |
Net income | $1,340 | $1,107 | $2,489 | $2,500 |
Less: Net income allocated to restricted stock awards | 11 | 9 | 21 | 18 |
Net income allocated to common shareholders | 1,329 | 1,098 | 2,468 | 2,482 |
Weighted average common shares outstanding | 7,410,160 | 8,185,556 | 7,518,064 | 8,309,506 |
Basic (in usd per share) | $0.18 | $0.13 | $0.33 | $0.30 |
Diluted | ' | ' | ' | ' |
Net income | 1,340 | 1,107 | 2,489 | 2,500 |
Less: Net income allocated to restricted stock awards | 11 | 9 | 21 | 18 |
Net income allocated to common shareholders | $1,329 | $1,098 | $2,468 | $2,482 |
Weighted average common shares outstanding | 7,410,160 | 8,185,556 | 7,518,064 | 8,309,506 |
Add: Dilutive effect of stock options | 22,642 | 17,226 | 21,082 | 17,786 |
Average shares and dilutive potential common shares | 7,432,802 | 8,202,782 | 7,539,146 | 8,327,292 |
Diluted (in usd per share) | $0.18 | $0.13 | $0.33 | $0.30 |
Earnings_Per_Share_Additional_
Earnings Per Share - Additional Information (Detail) | 3 Months Ended | 6 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | |
Earnings Per Share Basic And Diluted [Line Items] | ' | ' | ' | ' |
Number of allocated shares | 10,355 | ' | 20,710 | ' |
Number of shares remained unearned | 362,432 | 403,853 | 362,432 | 403,853 |
Stock Option | ' | ' | ' | ' |
Earnings Per Share Basic And Diluted [Line Items] | ' | ' | ' | ' |
Anti-dilutive securities, outstanding stock options | 87,691 | 188,521 | 87,691 | 188,125 |
Fair_Value_Measurements_Additi
Fair Value Measurements - Additional Information (Detail) (USD $) | 0 Months Ended | 3 Months Ended | 6 Months Ended | |||
Dec. 31, 2013 | Jun. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | |
Fair Value, Balance Sheet Grouping, Financial Statement Captions | ' | ' | ' | ' | ' | ' |
Transferred amount of financial and nonfinancial instruments | ' | ' | $0 | $0 | $0 | $0 |
Principal balance of impaired loans measured at fair value | ' | 1,500,000 | ' | ' | ' | ' |
Valuation allowance of Loans | ' | 32,000 | ' | ' | ' | ' |
Impairment of MSAs | 7,000 | 31,000 | ' | ' | ' | ' |
Fair Value, Measurements, Nonrecurring | ' | ' | ' | ' | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions | ' | ' | ' | ' | ' | ' |
Nonfinancial assets measured at fair value | $0 | ' | $0 | $0 | $0 | $0 |
Fair_Value_Measurements_Assets
Fair Value Measurements - Assets Measured at Fair Value on Recurring Basis (Detail) (Available-for-sale Securities, USD $) | Dec. 31, 2013 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | ' | ' |
Assets measured at fair value | $45,251 | $52,180 |
Mortgage-backed securities (residential) | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | ' | ' |
Assets measured at fair value | 27,264 | 30,075 |
Collateralized mortgage obligations (residential) | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | ' | ' |
Assets measured at fair value | 17,987 | 22,105 |
Significant Other Observable Inputs (Level 2) | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | ' | ' |
Assets measured at fair value | 45,251 | 52,180 |
Significant Other Observable Inputs (Level 2) | Mortgage-backed securities (residential) | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | ' | ' |
Assets measured at fair value | 27,264 | 30,075 |
Significant Other Observable Inputs (Level 2) | Collateralized mortgage obligations (residential) | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | ' | ' |
Assets measured at fair value | $17,987 | $22,105 |
Fair_Value_Measurements_Financ
Fair Value Measurements - Financial Assets Measured at Fair Value on Non-Recurring Basis (Detail) (USD $) | Dec. 31, 2013 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | ||
Impaired Loans | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | ' | ' |
Loans held for sale | ' | $4,496 |
Significant Other Observable Inputs (Level 2) | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | ' | ' |
Loans held for sale | 2,173 | 4,496 |
Significant Other Observable Inputs (Level 2) | Impaired Loans | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | ' | ' |
Loans held for sale | ' | 4,496 |
Significant Unobservable Inputs (Level 3) | Mortgage Servicing Assets | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | ' | ' |
Assets measured at fair value on a non-recurring basis | 16 | 195 |
Significant Unobservable Inputs (Level 3) | Impaired Loans | Residential Mortgage | One-to-Four Family | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | ' | ' |
Assets measured at fair value on a non-recurring basis | ' | 1,495 |
Significant Unobservable Inputs (Level 3) | Impaired Loans | Mortgage Servicing Assets | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | ' | ' |
MSAs | $16 | $195 |
Fair_Value_Measurements_Quanti
Fair Value Measurements - Quantitative Information about Level 3 Fair Value Measurements for Financial Instruments Measured at Fair Value on Recurring and Non recurring Basis (Detail) (Significant Unobservable Inputs (Level 3), USD $) | 6 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Jun. 30, 2013 |
Mortgage Servicing Assets | ' | ' |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' |
Assets measured at fair value on a non-recurring basis | $16 | $195 |
Valuation Techniques | 'Discounted Cash Flow | 'Discounted Cash Flow |
Unobservable Inputs | 'Discount Rate | 'Discount Rate |
Range (Weighted Average) | 8.50% | 7.50% |
Impaired Loans | One-to-Four Family | Sales Comparison Approach | ' | ' |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' |
Valuation Techniques | ' | 'Sales Comparison Approach |
Unobservable Inputs | ' | 'Adjustment for the differences between the comparable sales |
Range (Weighted Average) | ' | -1.45% |
Impaired Loans | One-to-Four Family | Sales Comparison Approach | Minimum | ' | ' |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' |
Range (Weighted Average) | ' | -8.70% |
Impaired Loans | One-to-Four Family | Sales Comparison Approach | Maximum | ' | ' |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' |
Range (Weighted Average) | ' | 8.50% |
Residential Mortgage | Impaired Loans | One-to-Four Family | ' | ' |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' |
Assets measured at fair value on a non-recurring basis | ' | $1,495 |
Conditional Prepayment Rate | Mortgage Servicing Assets | Income Approach | ' | ' |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' |
Range (Weighted Average) | 6.78% | ' |
Conditional Prepayment Rate | Mortgage Servicing Assets | Income Approach | Minimum | ' | ' |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' |
Range (Weighted Average) | 5.37% | ' |
Conditional Prepayment Rate | Mortgage Servicing Assets | Income Approach | Maximum | ' | ' |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' |
Range (Weighted Average) | 11.40% | ' |
Fair_Value_Measurements_Carryi
Fair Value Measurements - Carrying Amounts and Estimated Fair Values of Financial Instruments (Detail) (USD $) | Dec. 31, 2013 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | ||
Financial assets: | ' | ' |
Cash on hand | $9,035 | $8,864 |
Securities held-to-maturity | 456 | 541 |
Carrying Amount | ' | ' |
Financial assets: | ' | ' |
Cash on hand | 9,035 | 8,864 |
Federal funds sold | 48,610 | 76,810 |
Securities held-to-maturity | 444 | 525 |
Federal Home Loan Bank Stock | 5,902 | 5,902 |
Loans held for sale | 2,141 | 4,496 |
Loans receivable, net | 714,711 | 688,213 |
MSAs | 691 | 407 |
Financial liabilities: | ' | ' |
Deposits | 624,478 | 654,646 |
FHLB Advances | 85,000 | 60,000 |
Carrying Amount | Loans | ' | ' |
Financial assets: | ' | ' |
Accrued interest receivable - investments | 2,245 | 2,344 |
Carrying Amount | Investments | ' | ' |
Financial assets: | ' | ' |
Accrued interest receivable - investments | 81 | 93 |
Fair Value | ' | ' |
Financial assets: | ' | ' |
Cash on hand | 9,035 | 8,864 |
Federal funds sold | 48,610 | 76,810 |
Securities held-to-maturity | 456 | 541 |
Loans held for sale | 2,173 | 4,496 |
Loans receivable, net | 728,187 | 710,219 |
Servicing Asset at Fair Value, Amount | 999 | 494 |
Financial liabilities: | ' | ' |
Deposits | 628,955 | 660,995 |
FHLB Advances | 85,758 | 61,451 |
Fair Value | Loans | ' | ' |
Financial assets: | ' | ' |
Accrued interest receivable - investments | 2,245 | 2,344 |
Fair Value | Investments | ' | ' |
Financial assets: | ' | ' |
Accrued interest receivable - investments | 81 | 93 |
Quoted Prices in Active Markets for Identical Assets (Level 1) | ' | ' |
Financial assets: | ' | ' |
Cash on hand | 9,035 | 8,864 |
Significant Other Observable Inputs (Level 2) | ' | ' |
Financial assets: | ' | ' |
Federal funds sold | 48,610 | 76,810 |
Securities held-to-maturity | 456 | 541 |
Loans held for sale | 2,173 | 4,496 |
Financial liabilities: | ' | ' |
Deposits | 628,955 | 660,995 |
FHLB Advances | 85,758 | 61,451 |
Significant Other Observable Inputs (Level 2) | Investments | ' | ' |
Financial assets: | ' | ' |
Accrued interest receivable - investments | 81 | 93 |
Significant Unobservable Inputs (Level 3) | ' | ' |
Financial assets: | ' | ' |
Loans receivable, net | 728,187 | 710,219 |
Servicing Asset at Fair Value, Amount | 999 | 494 |
Significant Unobservable Inputs (Level 3) | Loans | ' | ' |
Financial assets: | ' | ' |
Accrued interest receivable - investments | $2,245 | $2,344 |
Investments_Amortized_Cost_and
Investments - Amortized Cost and Fair Value of Available For Sale Securities and Related Gross Unrealized Gains and Losses Recognized in Accumulated Other Comprehensive Income (Detail) (USD $) | Dec. 31, 2013 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities | ' | ' |
Fair Value | $45,251 | $52,180 |
Gross Unrealized Gains | 58 | 125 |
Gross Unrealized Losses | -888 | -718 |
Amortized Cost | 46,081 | 52,773 |
Mortgage-backed (residential) | Fannie Mae | ' | ' |
Schedule of Available-for-sale Securities | ' | ' |
Fair Value | 7,469 | 8,510 |
Gross Unrealized Gains | 13 | 9 |
Gross Unrealized Losses | -10 | -17 |
Amortized Cost | 7,466 | 8,518 |
Mortgage-backed (residential) | Freddie Mac | ' | ' |
Schedule of Available-for-sale Securities | ' | ' |
Fair Value | 19,795 | 21,565 |
Gross Unrealized Gains | 0 | ' |
Gross Unrealized Losses | -855 | -662 |
Amortized Cost | 20,650 | 22,227 |
Collateralized mortgage obligations (residential) | Fannie Mae | ' | ' |
Schedule of Available-for-sale Securities | ' | ' |
Fair Value | 10,232 | 13,125 |
Gross Unrealized Gains | 10 | 59 |
Gross Unrealized Losses | -23 | -39 |
Amortized Cost | 10,245 | 13,105 |
Collateralized mortgage obligations (residential) | Freddie Mac | ' | ' |
Schedule of Available-for-sale Securities | ' | ' |
Fair Value | 7,755 | 8,980 |
Gross Unrealized Gains | 35 | 57 |
Amortized Cost | $7,720 | $8,923 |
Investments_Carrying_Amount_Un
Investments - Carrying Amount Unrecognized Gains and Losses and Fair Value of Securities Held To Maturity (Detail) (USD $) | Dec. 31, 2013 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | ||
Schedule of Held-to-maturity Securities | ' | ' |
Securities held-to-maturity, fair value of $456 and $541 at December 31, 2013 and June 30, 2013, respectively | $444 | $525 |
Gross Unrecognized Gains | 12 | 16 |
Gross Unrecognized Losses | ' | ' |
Fair Value | 456 | 541 |
Mortgage-backed (residential) | Fannie Mae | ' | ' |
Schedule of Held-to-maturity Securities | ' | ' |
Securities held-to-maturity, fair value of $456 and $541 at December 31, 2013 and June 30, 2013, respectively | 106 | 119 |
Gross Unrecognized Gains | 3 | 4 |
Gross Unrecognized Losses | ' | ' |
Fair Value | 109 | 123 |
Mortgage-backed (residential) | Freddie Mac | ' | ' |
Schedule of Held-to-maturity Securities | ' | ' |
Securities held-to-maturity, fair value of $456 and $541 at December 31, 2013 and June 30, 2013, respectively | 66 | 74 |
Gross Unrecognized Gains | 4 | 5 |
Gross Unrecognized Losses | ' | ' |
Fair Value | 70 | 79 |
Mortgage-backed (residential) | Ginnie Mae | ' | ' |
Schedule of Held-to-maturity Securities | ' | ' |
Securities held-to-maturity, fair value of $456 and $541 at December 31, 2013 and June 30, 2013, respectively | 33 | 36 |
Gross Unrecognized Gains | 1 | 2 |
Gross Unrecognized Losses | ' | ' |
Fair Value | 34 | 38 |
Collateralized mortgage obligations (residential) | Fannie Mae | ' | ' |
Schedule of Held-to-maturity Securities | ' | ' |
Securities held-to-maturity, fair value of $456 and $541 at December 31, 2013 and June 30, 2013, respectively | 239 | 296 |
Gross Unrecognized Gains | 4 | 5 |
Gross Unrecognized Losses | ' | ' |
Fair Value | 243 | 301 |
Collateralized mortgage obligations (residential) | Freddie Mac | ' | ' |
Schedule of Held-to-maturity Securities | ' | ' |
Gross Unrecognized Losses | ' | ' |
Investments_Additional_Informa
Investments - Additional Information (Detail) (USD $) | 3 Months Ended | 6 Months Ended | |||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Jun. 30, 2013 | |
Securities | Securities | Securities | |||
Investments, Debt and Equity Securities [Abstract] | ' | ' | ' | ' | ' |
Sales of securities | $0 | $0 | $0 | $0 | ' |
Number of debt securities in unrealized loss position | 11 | ' | 11 | ' | 10 |
Debt security unrealized loss percentage of the Company's amortized cost basis | 3.00% | ' | 3.00% | ' | 2.60% |
Number of Securities Holdings of Any One Issuer other than US Government Greater than Ten Percent of Shareholder's Equity | 0 | ' | 0 | ' | ' |
Percentage of Stockholder's Equity | 10.00% | ' | 10.00% | ' | ' |
Investments_Securities_with_Co
Investments - Securities with Continuous Unrealized Losses Position Aggregated by Investment Category and Length of Time (Detail) (USD $) | Dec. 31, 2013 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities | ' | ' |
Less than 12 months Fair Value | $26,563 | $25,476 |
Available-for-Sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Amount | -870 | -680 |
12 months or more Fair Value | 1,863 | 2,508 |
Available-for Sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Amount | -18 | -39 |
Total Fair Value | 28,426 | 27,984 |
Available-for-Sale Securities, Continuous Unrealized Loss Position, Aggregate Amount | -888 | -719 |
Mortgage-backed securities (residential) | ' | ' |
Schedule of Available-for-sale Securities | ' | ' |
Less than 12 months Fair Value | 21,843 | 25,476 |
Available-for-Sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Amount | -865 | -680 |
12 months or more Fair Value | 0 | 0 |
Available-for Sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Amount | 0 | 0 |
Total Fair Value | 21,843 | 25,476 |
Available-for-Sale Securities, Continuous Unrealized Loss Position, Aggregate Amount | -865 | -680 |
Collateralized mortgage obligations (residential) | ' | ' |
Schedule of Available-for-sale Securities | ' | ' |
Less than 12 months Fair Value | 4,720 | 0 |
Available-for-Sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Amount | -5 | 0 |
12 months or more Fair Value | 1,863 | 2,508 |
Available-for Sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Amount | -18 | -39 |
Total Fair Value | 6,583 | 2,508 |
Available-for-Sale Securities, Continuous Unrealized Loss Position, Aggregate Amount | ($23) | ($39) |
Loans_Composition_of_Loans_Det
Loans - Composition of Loans (Detail) (USD $) | Dec. 31, 2013 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | ||
Accounts, Notes, Loans and Financing Receivable | ' | ' |
Loans Receivable | $719,178 | $694,333 |
Deferred net loan origination costs | 263 | 506 |
Net premium (discounts) on purchased loans | 309 | 512 |
Allowance for loan losses | -5,039 | -5,643 |
Loans receivable, net | 714,711 | 689,708 |
Real Estate | ' | ' |
Accounts, Notes, Loans and Financing Receivable | ' | ' |
Loans Receivable | 668,148 | 656,023 |
Real Estate | One-to-Four Family | ' | ' |
Accounts, Notes, Loans and Financing Receivable | ' | ' |
Loans Receivable | 298,985 | 319,631 |
Real Estate | Multi-family | ' | ' |
Accounts, Notes, Loans and Financing Receivable | ' | ' |
Loans Receivable | 322,939 | 280,771 |
Real Estate | Commercial Real Estate Portfolio Segment | ' | ' |
Accounts, Notes, Loans and Financing Receivable | ' | ' |
Loans Receivable | 46,224 | 55,621 |
Consumer | ' | ' |
Accounts, Notes, Loans and Financing Receivable | ' | ' |
Loans Receivable | 51,030 | 38,310 |
Consumer | Automobile | ' | ' |
Accounts, Notes, Loans and Financing Receivable | ' | ' |
Loans Receivable | 36,328 | 26,711 |
Consumer | Home Equity | ' | ' |
Accounts, Notes, Loans and Financing Receivable | ' | ' |
Loans Receivable | 650 | 682 |
Consumer | Other | ' | ' |
Accounts, Notes, Loans and Financing Receivable | ' | ' |
Loans Receivable | $14,052 | $10,917 |
Loans_Additional_Information_D
Loans - Additional Information (Detail) (USD $) | 3 Months Ended | 6 Months Ended | |||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Jun. 30, 2013 | |
Loan | Loan | ||||
Accounts, Notes, Loans and Financing Receivable | ' | ' | ' | ' | ' |
Loans and Leases Receivable, Impaired, Interest Lost on Nonaccrual Loans | $228,000 | $398,000 | $444,000 | $592,000 | ' |
Loans held for sale | 2,141,000 | ' | 2,141,000 | ' | 4,496,000 |
Proceeds from sale of loans held for sale | ' | ' | 17,027,000 | 33,015,000 | ' |
Net gain on sale of loans held for sale | 145,000 | 903,000 | 330,000 | 1,327,000 | ' |
Interest payment on impaired loans | 155,000 | 254,000 | 306,000 | 346,000 | ' |
Troubled debt restructurings | 15,400,000 | ' | 15,400,000 | ' | 15,700,000 |
Non-accrual Loans | 11,784,000 | ' | 11,784,000 | ' | 15,920,000 |
Allowance for loan losses on troubled debt restructurings on nonaccrual status | 97,000 | ' | 97,000 | ' | 393,000 |
Number of loans modified | ' | 15 | ' | 43 | ' |
Loans modified amount | ' | 6,700,000 | ' | 5,400,000 | ' |
Special Mention, past due period, lower limit | ' | ' | '60 days | ' | ' |
Special Mention, past due period, upper limit | ' | ' | '89 days | ' | ' |
Substandard, past due period, lower limit | ' | ' | '90 days | ' | ' |
Pass, past due period, upper limit | ' | ' | '59 days | ' | ' |
Real Estate Loans | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable | ' | ' | ' | ' | ' |
Impairment of real estate loan | ' | ' | ' | ' | 1,500,000 |
Valuation allowance | ' | ' | ' | ' | 32,000 |
Real Estate Loans | Valuation Technique Cash Flow | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable | ' | ' | ' | ' | ' |
Impairment of real estate loan | 8,300,000 | ' | 8,300,000 | ' | 7,700,000 |
Valuation allowance | 1,000,000 | ' | 1,000,000 | ' | 974,000 |
Defaulted Loans | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable | ' | ' | ' | ' | ' |
Past due period beyond which loan is considered to be in payment default | ' | ' | '30 days | ' | ' |
Troubled Debt Restructurings | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable | ' | ' | ' | ' | ' |
Non-accrual Loans | 6,100,000 | ' | 6,100,000 | ' | 9,100,000 |
Number of troubled debt restructurings returned to accrual status | ' | ' | 8 | 5 | ' |
Troubled debt restructurings returned to accrual status, aggregate outstanding balance | ' | ' | 2,800,000 | 1,700,000 | ' |
Modifications of troubled debt restructurings, reduction of stated interest rate period minimum | '24 months | ' | ' | ' | ' |
Modification | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable | ' | ' | ' | ' | ' |
Number of loans modified | 10 | ' | 16 | ' | ' |
Loans modified amount | 3,100,000 | ' | 5,400,000 | ' | ' |
One-to-Four Family | Troubled Debt Restructurings | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable | ' | ' | ' | ' | ' |
Troubled debt restructurings | ' | 1,100,000 | ' | 1,100,000 | ' |
Number of loans modified | ' | ' | 0 | 3 | ' |
Residential Real Estate Portfolio Segment | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable | ' | ' | ' | ' | ' |
Financing Recievable, Recorded Investment, Nonaccrual Status, Performing in Accordance with Revised Contractual Terms | 1,100,000 | ' | 1,100,000 | ' | ' |
Residential Real Estate Portfolio Segment | One-to-Four Family | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable | ' | ' | ' | ' | ' |
Number of Loans on Non-Accrual Status | 8 | ' | 8 | ' | ' |
Financing Recievable, Recorded Investment, Nonaccrual Status, Performing in Accordance with Revised Contractual Terms | 2,900,000 | ' | 2,900,000 | ' | ' |
Interest payment on impaired loans | 102,000 | 139,000 | 195,000 | 192,000 | ' |
Non-accrual Loans | 6,416,000 | ' | 6,416,000 | ' | 10,310,000 |
Residential Real Estate Portfolio Segment | Multi-family | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable | ' | ' | ' | ' | ' |
Number of Loans on Non-Accrual Status | 3 | ' | 3 | ' | ' |
Financing Recievable, Recorded Investment, Nonaccrual Status, Performing in Accordance with Revised Contractual Terms | 934,000 | ' | 934,000 | ' | ' |
Interest payment on impaired loans | 28,000 | 26,000 | 58,000 | 35,000 | ' |
Non-accrual Loans | 1,698,000 | ' | 1,698,000 | ' | 1,547,000 |
Commercial Real Estate Portfolio Segment | ' | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable | ' | ' | ' | ' | ' |
Number of Loans on Non-Accrual Status | 1 | ' | 1 | ' | ' |
Interest payment on impaired loans | 25,000 | 89,000 | 53,000 | 119,000 | ' |
Non-accrual Loans | $3,653,000 | ' | $3,653,000 | ' | $4,045,000 |
Loans_Analysis_of_Changes_in_A
Loans - Analysis of Changes in Allowance for Loan Losses (Detail) (USD $) | Dec. 31, 2013 | Jun. 30, 2013 | Dec. 31, 2013 | Jun. 30, 2013 | Dec. 31, 2013 | Jun. 30, 2013 | Dec. 31, 2013 | Jun. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | Consumer | Consumer | Consumer | Consumer | Consumer | Consumer | Period 1 | Period 1 | Period 1 | Period 1 | Period 1 | Period 1 | Period 1 | Period 1 | Period 1 | Period 1 | Period 1 | Period 1 | Period 1 | Period 1 | Period 1 | Period 1 | Period 1 | Period 1 | Period 1 | Period 1 | Period 1 | Period 1 | Period 1 | Period 1 | Period 1 | Period 1 | Period 1 | Period 1 | ||
Automobile | Automobile | Home Equity | Home Equity | Other | Other | Residential Real Estate Portfolio Segment | Residential Real Estate Portfolio Segment | Residential Real Estate Portfolio Segment | Residential Real Estate Portfolio Segment | Residential Real Estate Portfolio Segment | Residential Real Estate Portfolio Segment | Residential Real Estate Portfolio Segment | Residential Real Estate Portfolio Segment | Commercial Real Estate Portfolio Segment | Commercial Real Estate Portfolio Segment | Commercial Real Estate Portfolio Segment | Commercial Real Estate Portfolio Segment | Consumer | Consumer | Consumer | Consumer | Consumer | Consumer | Consumer | Consumer | Consumer | Consumer | Consumer | Consumer | |||||||
One-to-Four Family | One-to-Four Family | One-to-Four Family | One-to-Four Family | Multi-family | Multi-family | Multi-family | Multi-family | Commercial Real Estate | Commercial Real Estate | Commercial Real Estate | Commercial Real Estate | Automobile | Automobile | Automobile | Automobile | Home Equity | Home Equity | Home Equity | Home Equity | Other | Other | Other | Other | |||||||||||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance, beginning of period | $5,039 | $5,643 | $123 | $83 | $3 | $4 | $278 | $54 | $5,487 | $6,392 | $5,643 | $7,502 | $2,628 | $4,521 | $3,009 | $4,692 | $1,287 | $1,057 | $839 | $1,519 | $1,408 | $672 | $1,654 | $1,131 | $112 | $88 | $83 | $62 | $4 | $26 | $4 | $63 | $48 | $28 | $54 | $35 |
Provision for loan losses | ' | ' | ' | ' | ' | ' | ' | ' | -300 | 600 | -300 | 1,450 | -247 | 490 | -599 | 1,454 | -94 | -231 | 454 | -469 | -222 | 369 | -469 | 437 | 27 | -14 | 74 | 26 | -1 | -32 | -1 | -13 | 237 | 18 | 241 | 15 |
Recoveries | ' | ' | ' | ' | ' | ' | ' | ' | 28 | 33 | 42 | 82 | 6 | 2 | 10 | 43 | ' | ' | ' | ' | ' | ' | 1 | ' | 20 | 22 | 28 | 29 | ' | 6 | ' | 6 | 2 | 3 | 3 | 4 |
Loans charged-off | ' | ' | ' | ' | ' | ' | ' | ' | -176 | -405 | -346 | -2,414 | ' | -388 | -33 | -1,564 | -131 | ' | -231 | -224 | ' | ' | ' | -527 | -36 | -11 | -62 | -32 | ' | ' | ' | -56 | -9 | -6 | -20 | -11 |
Balance, end of period | $5,039 | $5,643 | $123 | $83 | $3 | $4 | $278 | $54 | $5,039 | $6,620 | $5,039 | $6,620 | $2,387 | $4,625 | $2,387 | $4,625 | $1,062 | $826 | $1,062 | $826 | $1,186 | $1,041 | $1,186 | $1,041 | $123 | $85 | $123 | $85 | $3 | ' | $3 | ' | $278 | $43 | $278 | $43 |
Loans_Allowance_for_Loan_Losse
Loans - Allowance for Loan Losses and Recorded Investment in Loans by Portfolio Segment and Based on Impairment Method (Detail) (USD $) | Dec. 31, 2013 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | ||
Accounts, Notes, Loans and Financing Receivable | ' | ' |
Individually evaluated for impairment | $993 | $1,009 |
Collectively evaluated for impairment | 4,046 | 4,634 |
Total ending allowance balance | 5,039 | 5,643 |
Individually evaluated for impairment | 21,067 | 22,477 |
Collectively evaluated for impairment | 698,111 | 671,856 |
Total Loans | 719,178 | 694,333 |
Real Estate | ' | ' |
Accounts, Notes, Loans and Financing Receivable | ' | ' |
Total Loans | 668,148 | 656,023 |
Real Estate | One-to-Four Family | ' | ' |
Accounts, Notes, Loans and Financing Receivable | ' | ' |
Individually evaluated for impairment | 918 | 941 |
Collectively evaluated for impairment | 1,469 | 2,068 |
Total ending allowance balance | 2,387 | 3,009 |
Individually evaluated for impairment | 13,143 | 14,790 |
Collectively evaluated for impairment | 285,842 | 304,841 |
Total Loans | 298,985 | 319,631 |
Real Estate | Multi-family | ' | ' |
Accounts, Notes, Loans and Financing Receivable | ' | ' |
Individually evaluated for impairment | 0 | ' |
Collectively evaluated for impairment | 1,062 | 839 |
Total ending allowance balance | 1,062 | 839 |
Individually evaluated for impairment | 2,187 | 1,547 |
Collectively evaluated for impairment | 320,752 | 279,224 |
Total Loans | 322,939 | 280,771 |
Real Estate | Commercial Real Estate Portfolio Segment | ' | ' |
Accounts, Notes, Loans and Financing Receivable | ' | ' |
Individually evaluated for impairment | 58 | 64 |
Collectively evaluated for impairment | 1,128 | 1,590 |
Total ending allowance balance | 1,186 | 1,654 |
Individually evaluated for impairment | 5,720 | 6,136 |
Collectively evaluated for impairment | 40,504 | 49,485 |
Total Loans | 46,224 | 55,621 |
Consumer | ' | ' |
Accounts, Notes, Loans and Financing Receivable | ' | ' |
Total Loans | 51,030 | 38,310 |
Consumer | Automobile | ' | ' |
Accounts, Notes, Loans and Financing Receivable | ' | ' |
Individually evaluated for impairment | 11 | ' |
Collectively evaluated for impairment | 112 | 83 |
Total ending allowance balance | 123 | 83 |
Individually evaluated for impairment | 11 | ' |
Collectively evaluated for impairment | 36,317 | 26,711 |
Total Loans | 36,328 | 26,711 |
Consumer | Home Equity | ' | ' |
Accounts, Notes, Loans and Financing Receivable | ' | ' |
Collectively evaluated for impairment | 3 | 4 |
Total ending allowance balance | 3 | 4 |
Collectively evaluated for impairment | 650 | 682 |
Total Loans | 650 | 682 |
Consumer | Other | ' | ' |
Accounts, Notes, Loans and Financing Receivable | ' | ' |
Individually evaluated for impairment | 6 | 4 |
Collectively evaluated for impairment | 272 | 50 |
Total ending allowance balance | 278 | 54 |
Individually evaluated for impairment | 6 | 4 |
Collectively evaluated for impairment | 14,046 | 10,913 |
Total Loans | $14,052 | $10,917 |
Loans_Loans_Individually_Evalu
Loans - Loans Individually Evaluated for Impairment by Class of Loans (Detail) (USD $) | Dec. 31, 2013 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Impaired | ' | ' |
Unpaid Principal Balance | $15,066 | $15,574 |
Recorded Investment | 12,767 | 13,283 |
Allowance for Loan Losses Allocated | 0 | 0 |
Unpaid Principal Balance | 8,561 | 9,427 |
Recorded Investment | 8,300 | 9,194 |
Allowance for Loan Losses Allocated | 993 | 1,009 |
Unpaid Principal Balance | 23,627 | 25,001 |
Recorded Investment | 21,067 | 22,477 |
Allowance for Loan Losses Allocated | 993 | 1,009 |
Residential Real Estate Portfolio Segment | One-to-Four Family | ' | ' |
Financing Receivable, Impaired | ' | ' |
Unpaid Principal Balance | 7,063 | 7,909 |
Recorded Investment | 6,044 | 6,796 |
Allowance for Loan Losses Allocated | 0 | 0 |
Unpaid Principal Balance | 7,360 | 8,227 |
Recorded Investment | 7,099 | 7,994 |
Allowance for Loan Losses Allocated | 918 | 941 |
Residential Real Estate Portfolio Segment | Multi-family | ' | ' |
Financing Receivable, Impaired | ' | ' |
Unpaid Principal Balance | 2,655 | 1,961 |
Recorded Investment | 2,186 | 1,547 |
Allowance for Loan Losses Allocated | 0 | 0 |
Unpaid Principal Balance | 0 | ' |
Recorded Investment | 0 | ' |
Allowance for Loan Losses Allocated | 0 | ' |
Commercial Real Estate Portfolio Segment | ' | ' |
Financing Receivable, Impaired | ' | ' |
Unpaid Principal Balance | 5,348 | 5,704 |
Recorded Investment | 4,537 | 4,940 |
Allowance for Loan Losses Allocated | 0 | 0 |
Unpaid Principal Balance | 1,184 | 1,196 |
Recorded Investment | 1,184 | 1,196 |
Allowance for Loan Losses Allocated | 58 | 64 |
Consumer | Other | ' | ' |
Financing Receivable, Impaired | ' | ' |
Unpaid Principal Balance | 6 | 4 |
Recorded Investment | 6 | 4 |
Allowance for Loan Losses Allocated | 6 | 4 |
Allowance for Loan Losses Allocated | 6 | 4 |
Consumer | Automobile | ' | ' |
Financing Receivable, Impaired | ' | ' |
Unpaid Principal Balance | 11 | ' |
Recorded Investment | 11 | ' |
Allowance for Loan Losses Allocated | 11 | ' |
Allowance for Loan Losses Allocated | $11 | ' |
Loans_Monthly_Average_of_Indiv
Loans - Monthly Average of Individually Impaired Loans by Class (Detail) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 |
Financing Receivable, Impaired | ' | ' | ' | ' |
Monthly average of individually impaired loans | $21,226 | $26,576 | $21,642 | $26,454 |
Residential Real Estate Portfolio Segment | One-to-Four Family | ' | ' | ' | ' |
Financing Receivable, Impaired | ' | ' | ' | ' |
Monthly average of individually impaired loans | 13,561 | 19,007 | 13,971 | 19,182 |
Residential Real Estate Portfolio Segment | Multi-family | ' | ' | ' | ' |
Financing Receivable, Impaired | ' | ' | ' | ' |
Monthly average of individually impaired loans | 1,921 | 2,178 | 1,796 | 2,261 |
Commercial Real Estate Portfolio Segment | ' | ' | ' | ' |
Financing Receivable, Impaired | ' | ' | ' | ' |
Monthly average of individually impaired loans | 5,744 | 5,391 | 5,875 | 4,999 |
Consumer | Home Equity | ' | ' | ' | ' |
Financing Receivable, Impaired | ' | ' | ' | ' |
Monthly average of individually impaired loans | ' | $0 | ' | $12 |
Loans_Interest_Payments_Record
Loans - Interest Payments Recorded as Reduction of Principal on Impaired Loans by Class (Detail) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 |
Financing Receivable, Impaired | ' | ' | ' | ' |
Interest payment on impaired loans | $155 | $254 | $306 | $346 |
Residential Real Estate Portfolio Segment | One-to-Four Family | ' | ' | ' | ' |
Financing Receivable, Impaired | ' | ' | ' | ' |
Interest payment on impaired loans | 102 | 139 | 195 | 192 |
Residential Real Estate Portfolio Segment | Multi-family | ' | ' | ' | ' |
Financing Receivable, Impaired | ' | ' | ' | ' |
Interest payment on impaired loans | 28 | 26 | 58 | 35 |
Commercial Real Estate Portfolio Segment | ' | ' | ' | ' |
Financing Receivable, Impaired | ' | ' | ' | ' |
Interest payment on impaired loans | $25 | $89 | $53 | $119 |
Loans_Non_Accrual_Loans_by_Cla
Loans - Non Accrual Loans by Class of Loans (Detail) (USD $) | Dec. 31, 2013 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Impaired | ' | ' |
Non-accrual Loans | $11,784 | $15,920 |
Residential Real Estate Portfolio Segment | One-to-Four Family | ' | ' |
Financing Receivable, Impaired | ' | ' |
Non-accrual Loans | 6,416 | 10,310 |
Residential Real Estate Portfolio Segment | Multi-family | ' | ' |
Financing Receivable, Impaired | ' | ' |
Non-accrual Loans | 1,698 | 1,547 |
Commercial Real Estate Portfolio Segment | ' | ' |
Financing Receivable, Impaired | ' | ' |
Non-accrual Loans | 3,653 | 4,045 |
Consumer | Automobile | ' | ' |
Financing Receivable, Impaired | ' | ' |
Non-accrual Loans | 11 | 14 |
Consumer | Other | ' | ' |
Financing Receivable, Impaired | ' | ' |
Non-accrual Loans | $6 | $4 |
Loans_Aging_of_Past_Due_Loans_
Loans - Aging of Past Due Loans (Detail) (USD $) | Dec. 31, 2013 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment, Past Due | ' | ' |
30-59 Days Delinquent | $3,317 | $584 |
60-89 Days Delinquent | 1,268 | 3,715 |
90 Days or More Delinquent | 3,845 | 1,769 |
Total Delinquent Loans | 8,430 | 6,068 |
Total Current Loans | 710,748 | 688,265 |
Total Loans | 719,178 | 694,333 |
Real Estate | ' | ' |
Financing Receivable, Recorded Investment, Past Due | ' | ' |
Total Loans | 668,148 | 656,023 |
Real Estate | One-to-Four Family | ' | ' |
Financing Receivable, Recorded Investment, Past Due | ' | ' |
30-59 Days Delinquent | 1,604 | 389 |
60-89 Days Delinquent | 1,257 | 970 |
90 Days or More Delinquent | 739 | 1,751 |
Total Delinquent Loans | 3,600 | 3,110 |
Total Current Loans | 295,385 | 316,521 |
Total Loans | 298,985 | 319,631 |
Real Estate | Multi-family | ' | ' |
Financing Receivable, Recorded Investment, Past Due | ' | ' |
30-59 Days Delinquent | 659 | ' |
60-89 Days Delinquent | ' | 198 |
90 Days or More Delinquent | 545 | ' |
Total Delinquent Loans | 1,204 | 198 |
Total Current Loans | 321,735 | 280,573 |
Total Loans | 322,939 | 280,771 |
Commercial Real Estate Portfolio Segment | ' | ' |
Financing Receivable, Recorded Investment, Past Due | ' | ' |
30-59 Days Delinquent | 960 | ' |
60-89 Days Delinquent | ' | 2,545 |
90 Days or More Delinquent | 2,545 | ' |
Total Delinquent Loans | 3,505 | 2,545 |
Total Current Loans | 42,719 | 53,076 |
Total Loans | 46,224 | 55,621 |
Consumer | ' | ' |
Financing Receivable, Recorded Investment, Past Due | ' | ' |
Total Loans | 51,030 | 38,310 |
Consumer | Automobile | ' | ' |
Financing Receivable, Recorded Investment, Past Due | ' | ' |
30-59 Days Delinquent | 78 | 32 |
60-89 Days Delinquent | 0 | ' |
90 Days or More Delinquent | 11 | 14 |
Total Delinquent Loans | 89 | 46 |
Total Current Loans | 36,239 | 26,665 |
Total Loans | 36,328 | 26,711 |
Consumer | Home Equity | ' | ' |
Financing Receivable, Recorded Investment, Past Due | ' | ' |
30-59 Days Delinquent | ' | 143 |
Total Delinquent Loans | ' | 143 |
Total Current Loans | 650 | 539 |
Total Loans | 650 | 682 |
Consumer | Other loans | ' | ' |
Financing Receivable, Recorded Investment, Past Due | ' | ' |
30-59 Days Delinquent | 16 | 20 |
60-89 Days Delinquent | 11 | 2 |
90 Days or More Delinquent | 5 | 4 |
Total Delinquent Loans | 32 | 26 |
Total Current Loans | 14,020 | 10,891 |
Total Loans | $14,052 | $10,917 |
Loans_Risk_Category_of_Loans_b
Loans - Risk Category of Loans by Class of Loans (Detail) (USD $) | Dec. 31, 2013 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment | ' | ' |
Loans Receivable | $719,178 | $694,333 |
Commercial Real Estate Portfolio Segment | ' | ' |
Financing Receivable, Recorded Investment | ' | ' |
Loans Receivable | 46,224 | 55,621 |
Consumer | ' | ' |
Financing Receivable, Recorded Investment | ' | ' |
Loans Receivable | 51,030 | 38,310 |
Consumer | Automobile | ' | ' |
Financing Receivable, Recorded Investment | ' | ' |
Loans Receivable | 36,328 | 26,711 |
Consumer | Home Equity | ' | ' |
Financing Receivable, Recorded Investment | ' | ' |
Loans Receivable | 650 | 682 |
Consumer | Other | ' | ' |
Financing Receivable, Recorded Investment | ' | ' |
Loans Receivable | 14,052 | 10,917 |
Pass | ' | ' |
Financing Receivable, Recorded Investment | ' | ' |
Loans Receivable | 680,243 | 652,807 |
Pass | Residential Real Estate Portfolio Segment | One-to-Four Family | ' | ' |
Financing Receivable, Recorded Investment | ' | ' |
Loans Receivable | 281,339 | 296,434 |
Pass | Residential Real Estate Portfolio Segment | Multi-family | ' | ' |
Financing Receivable, Recorded Investment | ' | ' |
Loans Receivable | 313,297 | 275,143 |
Pass | Commercial Real Estate Portfolio Segment | ' | ' |
Financing Receivable, Recorded Investment | ' | ' |
Loans Receivable | 34,763 | 43,246 |
Pass | Consumer | Automobile | ' | ' |
Financing Receivable, Recorded Investment | ' | ' |
Loans Receivable | 36,178 | 26,454 |
Pass | Consumer | Home Equity | ' | ' |
Financing Receivable, Recorded Investment | ' | ' |
Loans Receivable | 650 | 682 |
Pass | Consumer | Other | ' | ' |
Financing Receivable, Recorded Investment | ' | ' |
Loans Receivable | 14,016 | 10,848 |
Special Mention | ' | ' |
Financing Receivable, Recorded Investment | ' | ' |
Loans Receivable | 17,269 | 18,100 |
Special Mention | Residential Real Estate Portfolio Segment | One-to-Four Family | ' | ' |
Financing Receivable, Recorded Investment | ' | ' |
Loans Receivable | 9,746 | 10,973 |
Special Mention | Residential Real Estate Portfolio Segment | Multi-family | ' | ' |
Financing Receivable, Recorded Investment | ' | ' |
Loans Receivable | 3,996 | 3,094 |
Special Mention | Commercial Real Estate Portfolio Segment | ' | ' |
Financing Receivable, Recorded Investment | ' | ' |
Loans Receivable | 3,417 | 3,895 |
Special Mention | Consumer | Automobile | ' | ' |
Financing Receivable, Recorded Investment | ' | ' |
Loans Receivable | 85 | 102 |
Special Mention | Consumer | Other | ' | ' |
Financing Receivable, Recorded Investment | ' | ' |
Loans Receivable | 25 | 36 |
Substandard | ' | ' |
Financing Receivable, Recorded Investment | ' | ' |
Loans Receivable | 21,646 | 23,398 |
Substandard | Residential Real Estate Portfolio Segment | One-to-Four Family | ' | ' |
Financing Receivable, Recorded Investment | ' | ' |
Loans Receivable | 7,900 | 12,224 |
Substandard | Residential Real Estate Portfolio Segment | Multi-family | ' | ' |
Financing Receivable, Recorded Investment | ' | ' |
Loans Receivable | 5,646 | 2,534 |
Substandard | Commercial Real Estate Portfolio Segment | ' | ' |
Financing Receivable, Recorded Investment | ' | ' |
Loans Receivable | 8,044 | 8,480 |
Substandard | Consumer | Automobile | ' | ' |
Financing Receivable, Recorded Investment | ' | ' |
Loans Receivable | 52 | 137 |
Substandard | Consumer | Other | ' | ' |
Financing Receivable, Recorded Investment | ' | ' |
Loans Receivable | 4 | 23 |
Doubtful | ' | ' |
Financing Receivable, Recorded Investment | ' | ' |
Loans Receivable | 3 | 24 |
Doubtful | Consumer | Automobile | ' | ' |
Financing Receivable, Recorded Investment | ' | ' |
Loans Receivable | 2 | 18 |
Doubtful | Consumer | Other | ' | ' |
Financing Receivable, Recorded Investment | ' | ' |
Loans Receivable | 1 | 6 |
Loss | ' | ' |
Financing Receivable, Recorded Investment | ' | ' |
Loans Receivable | 17 | 4 |
Loss | Consumer | Automobile | ' | ' |
Financing Receivable, Recorded Investment | ' | ' |
Loans Receivable | 11 | ' |
Loss | Consumer | Other | ' | ' |
Financing Receivable, Recorded Investment | ' | ' |
Loans Receivable | $6 | $4 |
Real_Estate_Owned_Changes_in_R
Real Estate Owned - Changes in Real Estate Owned (Detail) (USD $) | 6 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Real Estate Properties Base Purchase Price [Abstract] | ' | ' |
Real Estate Owned, Valuation Allowance | $0 | $0 |
Other Real Estate [Roll Forward] | ' | ' |
Beginning of period | 0 | 1,280,000 |
Transfers in | 539,000 | 521,000 |
Capitalized expenditures | 70,000 | 3,000 |
Sales | -325,000 | -1,279,000 |
End of period | $284,000 | $525,000 |
Real_Estate_Owned_Net_Income_E
Real Estate Owned - Net Income Expenses Related to Foreclosed Assets Included in Other Operating Expense (Detail) (USD $) | 6 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Other Income and Expenses [Abstract] | ' | ' |
Gains (Losses) on Sales of Other Real Estate | $4 | $88 |
Net operating expense | -19 | -73 |
Total | ($15) | $15 |
Federal_Home_Loan_Bank_Advance2
Federal Home Loan Bank Advances - Additional Information (Detail) (USD $) | Dec. 31, 2013 | Jun. 30, 2013 |
In Millions, unless otherwise specified | ||
Banking and Thrift [Abstract] | ' | ' |
FHLB advances | $85 | $60 |
FHLB advances, minimum stated interest rates | 0.82% | 0.85% |
FHLB advances, maximum stated interest rates | 2.43% | 2.43% |
FHLB advances, weighted average stated rate | 1.57% | 1.64% |
Federal_Home_Loan_Bank_Advance3
Federal Home Loan Bank Advances - Contractual Maturities of Federal Home Loan Bank Advances by Year (Detail) (USD $) | Dec. 31, 2013 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | ||
Banking and Thrift [Abstract] | ' | ' |
2014 | ' | ' |
2015 | 20,000 | 20,000 |
2016 | ' | ' |
2017 | 25,000 | 20,000 |
2018 | 10,000 | ' |
Thereafter | 30,000 | 20,000 |
Total | $85,000 | $60,000 |
Change_in_Accumulated_Other_Co2
Change in Accumulated Other Comprehensive Loss - Summary of Accumulated Other Comprehensive Income Balances Net of Tax (Detail) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 |
Increase (Decrease) in Accumulated Other Comprehensive Income Rollforward [Roll Forward] | ' | ' | ' | ' |
Balance at beginning of period | ($436) | ($40) | ($491) | ($169) |
Other comprehensive loss before reclassifications | -347 | -13 | -272 | 182 |
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, before Tax | -330 | 11 | -237 | 230 |
Other Comprehensive (Income) Loss, Reclassification Adjustment from AOCI, Pension and Other Postretirement Benefit Plans, before Tax | 17 | 24 | 35 | 48 |
Tax effect of current period changes | 135 | -5 | 97 | -95 |
Other comprehensive (loss) income, net of tax | -195 | 6 | -140 | 135 |
Balance at end of period | -631 | -34 | -631 | -34 |
Unrealized Gain and losses on securities available-for-sale | ' | ' | ' | ' |
Increase (Decrease) in Accumulated Other Comprehensive Income Rollforward [Roll Forward] | ' | ' | ' | ' |
Balance at beginning of period | -307 | 212 | -362 | 83 |
Other comprehensive loss before reclassifications | -330 | 11 | -237 | 230 |
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, before Tax | 0 | 0 | 0 | 0 |
Tax effect of current period changes | 135 | -5 | 97 | -95 |
Other comprehensive (loss) income, net of tax | -195 | 6 | -140 | 135 |
Balance at end of period | -502 | 218 | -502 | 218 |
Postretirement medical benefits costs items | ' | ' | ' | ' |
Increase (Decrease) in Accumulated Other Comprehensive Income Rollforward [Roll Forward] | ' | ' | ' | ' |
Balance at beginning of period | -129 | -252 | -129 | -252 |
Other comprehensive loss before reclassifications | -17 | -24 | -35 | -48 |
Other Comprehensive (Income) Loss, Reclassification Adjustment from AOCI, Pension and Other Postretirement Benefit Plans, before Tax | 17 | 24 | 35 | 48 |
Tax effect of current period changes | 0 | 0 | 0 | 0 |
Other comprehensive (loss) income, net of tax | 0 | 0 | 0 | 0 |
Balance at end of period | ($129) | ($252) | ($129) | ($252) |
Repurchase_of_Common_Stock_Add
Repurchase of Common Stock - Additional Information (Detail) (USD $) | 3 Months Ended | 6 Months Ended | 26 Months Ended | 3 Months Ended | 6 Months Ended | 26 Months Ended | 3 Months Ended | 6 Months Ended | 26 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Nov. 04, 2013 | |
Minimum | Minimum | Minimum | Maximum | Maximum | Maximum | Stock Repurchase Plan Five | |||||
Equity Note | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share Repurchase Program Shares Authorized To Acquire Issued and Outstanding Common Stock Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.00% |
Stock Repurchase Program, Number of Shares Authorized to be Repurchased | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 394,003 |
Repurchase of common stock, shares | 235,404 | 383,979 | ' | 1,901,646 | ' | ' | ' | ' | ' | ' | ' |
Repurchase of common stock, per shares | ' | ' | ' | ' | $15.32 | $14.75 | $12 | $16.10 | $16.10 | $16.10 | ' |
Repurchase of common stock, weighted average price per share | $15.82 | $15.54 | ' | $14.61 | ' | ' | ' | ' | ' | ' | ' |
Remaining shares of common stock authorized for repurchased, shares | 276,805 | 276,805 | ' | 276,805 | ' | ' | ' | ' | ' | ' | ' |
Repurchase of common stock, value | $3,700,000 | $5,966,000 | $6,528,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Repurchased During Period, Value | ' | $6,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |