Document_and_Entity_Informatio
Document and Entity Information | 6 Months Ended | |
Dec. 31, 2014 | Feb. 05, 2015 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | FALSE | |
Document Period End Date | 31-Dec-14 | |
Document Fiscal Year Focus | 2015 | |
Document Fiscal Period Focus | Q2 | |
Trading Symbol | SMPL | |
Entity Registrant Name | Simplicity Bancorp, Inc. | |
Entity Central Index Key | 1412109 | |
Current Fiscal Year End Date | -24 | |
Entity Filer Category | Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 7,400,102 |
Consolidated_Statements_of_Fin
Consolidated Statements of Financial Condition (USD $) | Dec. 31, 2014 | Jun. 30, 2014 |
In Thousands, unless otherwise specified | ||
ASSETS | ||
Cash and due from banks | $11,836 | $7,988 |
Federal funds sold | 82,835 | 61,265 |
Total cash and cash equivalents | 94,671 | 69,253 |
Securities available-for-sale, at fair value | 51,579 | 56,883 |
Securities held-to-maturity, fair value of $370 and $406 at December 31, 2014 and June 30, 2014, respectively | 360 | 395 |
Federal Home Loan Bank stock, at cost | 5,519 | 5,519 |
Loans held for sale | 2,039 | 3,687 |
Loans receivable, net of allowance for loan losses of $3,914 and $4,580 at December 31, 2014 and June 30, 2014, respectively | 680,879 | 715,750 |
Accrued interest receivable | 2,054 | 2,252 |
Premises and equipment, net | 3,338 | 3,764 |
Goodwill | 3,950 | 3,950 |
Bank-owned life insurance | 14,432 | 14,220 |
Real estate owned (REO) | 0 | 284 |
Other assets | 4,386 | 3,231 |
Total assets | 863,207 | 879,188 |
Deposits | ||
Noninterest bearing | 58,352 | 60,569 |
Interest bearing | 597,902 | 592,254 |
Total deposits | 656,254 | 652,823 |
Federal Home Loan Bank advances, short-term | 0 | 20,000 |
Federal Home Loan Bank advances, long-term | 65,000 | 65,000 |
Accrued expenses and other liabilities | 3,720 | 4,479 |
Total liabilities | 724,974 | 742,302 |
Stockholders’ equity | ||
Nonredeemable serial preferred stock, $.01 par value; 25,000,000 shares authorized; issued and outstanding — none | 0 | 0 |
Common stock, $0.01 par value; 100,000,000 authorized; 7,392,908 and 7,368,296 shares issued and outstanding at December 31, 2014 and June 30, 2014, respectively | 74 | 74 |
Additional paid-in capital | 67,996 | 67,690 |
Retained earnings | 73,958 | 73,210 |
Accumulated other comprehensive loss, net of tax | -138 | -224 |
Unearned employee stock ownership plan (ESOP) shares | -3,657 | -3,864 |
Total stockholders’ equity | 138,233 | 136,886 |
Total liabilities and stockholders’ equity | $863,207 | $879,188 |
Consolidated_Statements_of_Fin1
Consolidated Statements of Financial Condition (Parenthetical) (USD $) | Dec. 31, 2014 | Jun. 30, 2014 |
In Thousands, except Share data, unless otherwise specified | ||
Statement of Financial Position [Abstract] | ||
Securities held-to-maturity, fair value | $370 | $406 |
Loans receivable, allowance for loan losses | $3,914 | $4,580 |
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 | 0 | 0 |
Nonredeemable serial preferred stock, outstanding | 0 | 0 |
Common stock, par value | $0.01 | $0.01 |
Common stock, authorized | 100,000,000 | 100,000,000 |
Common stock, shares issued | 7,392,908 | 7,368,296 |
Common stock, shares outstanding | 7,392,908 | 7,368,296 |
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, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 |
Interest income | ||||
Interest and fees on loans | $7,236 | $8,016 | $14,953 | $16,034 |
Interest on securities, taxable | 190 | 179 | 394 | 346 |
Federal Home Loan Bank dividends | 103 | 84 | 207 | 164 |
Other interest | 49 | 22 | 88 | 51 |
Total interest income | 7,578 | 8,301 | 15,642 | 16,595 |
Interest expense | ||||
Interest on deposits | 1,350 | 1,280 | 2,708 | 2,671 |
Interest on borrowings | 293 | 287 | 605 | 536 |
Total interest expense | 1,643 | 1,567 | 3,313 | 3,207 |
Net interest income | 5,935 | 6,734 | 12,329 | 13,388 |
Provision for (recovery of) loan losses | -400 | -300 | -750 | -300 |
Net interest income after provision for loan losses | 6,335 | 7,034 | 13,079 | 13,688 |
Noninterest income | ||||
Service charges and fees | 533 | 521 | 1,079 | 988 |
ATM fees and charges | 461 | 503 | 949 | 1,020 |
Referral commissions | 92 | 95 | 189 | 179 |
Bank-owned life insurance | 107 | 110 | 212 | 219 |
Net gain on sales of loans | 112 | 145 | 311 | 330 |
Other noninterest (loss) income | -9 | 20 | -54 | 117 |
Total noninterest income | 1,296 | 1,394 | 2,686 | 2,853 |
Noninterest expense | ||||
Salaries and benefits | 3,004 | 3,122 | 5,944 | 6,138 |
Occupancy and equipment | 680 | 723 | 1,430 | 1,509 |
ATM expense | 519 | 550 | 1,019 | 1,128 |
Advertising and promotional | 62 | 337 | 194 | 619 |
Legal Fees | 224 | 39 | 414 | 87 |
Professional services | 379 | 563 | 1,045 | 1,071 |
Federal deposit insurance premiums | 115 | 117 | 224 | 249 |
Postage | 55 | 52 | 103 | 104 |
Telephone | 250 | 207 | 448 | 402 |
Loss on equity investment | 147 | 75 | 297 | 136 |
REO foreclosure expenses and sales (gains)/losses, net | -123 | -13 | -168 | 15 |
Electronic services | 121 | 123 | 245 | 248 |
Other operating expense | 423 | 388 | 756 | 866 |
Total noninterest expense | 5,856 | 6,283 | 11,951 | 12,572 |
Income before income tax expense | 1,775 | 2,145 | 3,814 | 3,969 |
Income tax expense | 835 | 805 | 1,797 | 1,480 |
Net income | $940 | $1,340 | $2,017 | $2,489 |
Earnings per common share: | ||||
Basic (in usd per share) | $0.13 | $0.18 | $0.29 | $0.33 |
Diluted (in usd per share) | $0.13 | $0.18 | $0.29 | $0.33 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 |
Statement of Comprehensive Income [Abstract] | ||||
Net income | $940 | $1,340 | $2,017 | $2,489 |
Other comprehensive income (loss): | ||||
Unrealized gain (loss) on securities available for sale | 202 | -330 | 147 | -237 |
Postretirement medical benefit costs | ||||
Net loss arising during the period | -8 | -17 | -21 | -35 |
Amounts reclassified from accumulated other comprehensive income | 8 | 17 | 21 | 35 |
Tax effect of current period changes | -83 | 135 | -61 | 97 |
Other comprehensive income (loss), net of tax | 119 | -195 | 86 | -140 |
Comprehensive income | $1,059 | $1,145 | $2,103 | $2,349 |
Consolidated_Statements_of_Sto
Consolidated Statements of Stockholders' Equity (USD $) | Total | Common Stock | Additional Paid-in Capital | Retained Earnings | Accumulated Other Comprehensive Income (Loss), Net of tax | Unearned ESOP Shares |
In Thousands, except Share data, unless otherwise specified | ||||||
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 and $0.18 per share for the six months ended December 31, 2013 and 2014, respectively) | -1,219 | -1,219 | ||||
Repurchase of common stock (in shares) | -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 | |||||
Beginning Balance at Jun. 30, 2014 | 136,886 | 74 | 67,690 | 73,210 | -224 | -3,864 |
Beginning Balance (in shares) at Jun. 30, 2014 | 7,368,296 | |||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income | 2,017 | 2,017 | ||||
Other comprehensive income | 86 | 86 | ||||
Dividends declared ($0.16 and $0.18 per share for the six months ended December 31, 2013 and 2014, respectively) | -1,269 | -1,269 | ||||
Stock options earned | 2 | 2 | ||||
Allocation of stock awards | 168 | 168 | ||||
Issuance of stock awards | 25,412 | |||||
Forfeiture of stock awards (in shares) | -800 | |||||
Allocation of ESOP common stock (20,710 shares allocated) | 343 | 136 | 207 | |||
Ending Balance at Dec. 31, 2014 | $138,233 | $74 | $67,996 | $73,958 | ($138) | ($3,657) |
Ending Balance (in shares) at Dec. 31, 2014 | 7,392,908 |
Consolidated_Statements_of_Sto1
Consolidated Statements of Stockholders' Equity (Parenthetical) (USD $) | 6 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Statement of Stockholders' Equity [Abstract] | ||
Employee Stock Ownership Plan (ESOP), Number of Allocated Shares | 20,710 | 20,710 |
Dividends declared, per share | $0.18 | $0.16 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 6 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
OPERATING ACTIVITIES | ||
Net income | $2,017 | $2,489 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Amortization of net premiums on securities | 162 | 195 |
Amortization of net premiums on loan purchases | 43 | 203 |
Amortization of net loan origination costs | 125 | 189 |
Provision for (recovery of) loan losses | -750 | -300 |
Net gain on sale of REO | -181 | -4 |
Net gain on sales of loans held for sale | -311 | -330 |
Loans originated for sale | -17,296 | -14,256 |
Proceeds from sales of loans held for sale | 19,255 | 17,027 |
Decrease in valuation allowance for loans held for sale | 0 | -86 |
Depreciation and amortization | 613 | 634 |
Loss on equity investment | 297 | 136 |
Increase in cash surrender value of bank-owned life insurance | -212 | -219 |
Allocation of ESOP common stock | 343 | 319 |
Allocation of stock awards | 168 | 159 |
Stock options earned | 2 | 18 |
Net change in accrued interest receivable | 198 | 113 |
Net change in other assets | -1,513 | 430 |
Net change in accrued expenses and other liabilities | -759 | -2,938 |
Net cash provided by operating activities | 2,201 | 3,779 |
INVESTING ACTIVITIES | ||
Proceeds from maturities and principal repayments of available-for-sale securities | 5,289 | 6,497 |
Proceeds from maturities and principal repayments of held-to-maturity securities | 35 | 81 |
Net change in loans | 35,147 | -25,634 |
Proceeds from sale of real estate owned | 771 | 329 |
Purchases of premises and equipment | -187 | -728 |
Net cash provided by (used in) investing activities | 41,055 | -19,455 |
FINANCING ACTIVITIES | ||
Proceeds from FHLB advances | 0 | 25,000 |
Repayment of FHLB advances | -20,000 | 0 |
Dividends paid on common stock | -1,269 | -1,219 |
Repurchase of common stock | 0 | -5,966 |
Net change in deposits | 3,431 | -30,168 |
Net cash used in financing activities | -17,838 | -12,353 |
Net change in cash and cash equivalents | 25,418 | -28,029 |
Cash and cash equivalents at beginning of period | 69,253 | 85,674 |
Cash and cash equivalents at end of period | 94,671 | 57,645 |
SUPPLEMENTAL CASH FLOW INFORMATION | ||
Interest paid on deposits and borrowings | 3,321 | 3,214 |
Income taxes paid | 2,150 | 2,075 |
SUPPLEMENTAL NONCASH DISCLOSURES | ||
Transfer from loans to real estate owned | $306 | $539 |
Nature_of_Business_and_Signifi
Nature of Business and Significant Accounting Policies | 6 Months Ended |
Dec. 31, 2014 | |
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”). 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 multi-family residences and first mortgages on owner-occupied, one-to-four 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. | |
On September 27, 2014, the Company entered into a merger agreement with HomeStreet, Inc. ("HomeStreet"), under which the Company will merge with and into HomeStreet and the Bank will merge with and into HomeStreet’s subsidiary, HomeStreet Bank (the "Merger"). Under the terms of the 100% stock agreement, the Company's stockholders are expected to receive one share of HomeStreet common stock for each share owned of the Company's common stock, subject to adjustment if HomeStreet’s closing stock price during a specified measurement period prior to closing is more than $20.00 or less than $15.00 per share. The Merger is expected to close in the first quarter of calendar year 2015, subject to certain conditions set forth in the merger agreement. For more information, please refer to the Agreement and Plan of Merger attached as Exhibit 2.1 to the Company’s Current Report on Form 8-K filed with the SEC on October 1, 2014. | |
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, 2014 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, 2015. 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 2014 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: | |
Effect of Newly Issued But Not Yet Effective Accounting Standards: | |
In January 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-01, Investments-Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Qualified Affordable Housing Projects, which simplifies the amortization method an entity uses and modifies the criteria an entity must meet to account for a low-income housing tax credit investment by using ASC 323-740’s measurement and presentation alternative, including the simplified amortization method. This method permits an investment’s performance to be presented net of the related tax benefits as part of income tax expense. For public entities, the ASU is effective for annual periods beginning after December 15, 2014, and interim periods therein. Early adoption is permitted. The amendments should be applied retrospectively to all periods presented. The adoption of this guidance is not expected to have a material effect on the Company's results of operations or financial position. | |
In January 2014, the FASB issued ASU 2014-04, Receivables-Troubled Debt Restructurings by Creditors (Subtopic 310-40): Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans Upon Foreclosure. This ASU amends ASC 310 to clarify when an entity is considered to have obtained physical possession (from an in-substance possession or foreclosure) of a residential real estate property collateralizing a mortgage loan. A creditor is considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan, upon either (1) the creditor obtaining legal title to the residential real estate property upon completion of a foreclosure or (2) the borrower conveying all interest in the residential real estate property to the creditor to satisfy that loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. Upon physical possession of such real estate property, an entity is required to reclassify the nonperforming mortgage loan to other real estate owned. The ASU is effective for public business entities for annual periods, and interim periods within those annual periods, beginning after December 15, 2014. Early adoption is permitted. The amendments in the standard may be adopted using either a modified retrospective transition method or a prospective transition method. The adoption of this guidance is not expected to have a material effect on the Company's results of operations or financial position. | |
In May 2014, the FASB issued ASU No. 2014-09, Revenue From Contracts With Customers, that outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry-specific guidance. The ASU is based on the principle that an entity should recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The ASU also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to fulfill a contract. Entities have the option of using either a full retrospective or a modified retrospective approach for the adoption of the new standard. The ASU becomes effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. Early application is not permitted. The adoption of this guidance is not expected to have a material effect on the Company's results of operations or financial position. |
Earnings_Per_Share
Earnings Per Share | 6 Months Ended | |||||||||||||||
Dec. 31, 2014 | ||||||||||||||||
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, 2014 and 2013: | ||||||||||||||||
Three months ended | Six months ended | |||||||||||||||
December 31, | December 31, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
(Dollars in thousands, except per share data) | ||||||||||||||||
Basic | ||||||||||||||||
Net income | $ | 940 | $ | 1,340 | $ | 2,017 | $ | 2,489 | ||||||||
Less: Net income allocated to restricted stock awards | 11 | 11 | 21 | 21 | ||||||||||||
Net income allocated to common shareholders | $ | 929 | $ | 1,329 | $ | 1,996 | $ | 2,468 | ||||||||
Weighted average common shares outstanding | 6,975,798 | 7,410,160 | 6,970,620 | 7,518,064 | ||||||||||||
Basic earnings per common share | $ | 0.13 | $ | 0.18 | $ | 0.29 | $ | 0.33 | ||||||||
Diluted | ||||||||||||||||
Net income | $ | 940 | $ | 1,340 | $ | 2,017 | $ | 2,489 | ||||||||
Less: Net income allocated to restricted stock awards | 11 | 11 | 21 | 21 | ||||||||||||
Net income allocated to common shareholders | $ | 929 | $ | 1,329 | $ | 1,996 | $ | 2,468 | ||||||||
Weighted average common shares outstanding | 6,975,798 | 7,410,160 | 6,970,620 | 7,518,064 | ||||||||||||
Add: Dilutive effect of stock options | 25,753 | 22,642 | 25,810 | 21,082 | ||||||||||||
Average shares and dilutive potential common shares | 7,001,551 | 7,432,802 | 6,996,430 | 7,539,146 | ||||||||||||
Diluted earnings per common share | $ | 0.13 | $ | 0.18 | $ | 0.29 | $ | 0.33 | ||||||||
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, 2014, 10,355 and 20,710 ESOP shares were allocated, respectively. 321,011 ESOP shares remained unearned at December 31, 2014 as compared to 362,432 ESOP shares remained unearned at December 31, 2013. | ||||||||||||||||
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, 2014, outstanding stock options to purchase 59,205 and 70,823 shares, respectively, were anti-dilutive and not considered in computing diluted earnings per common share. 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. 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, 2014 | ||||||||||||||||||||
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, 2014 and 2013. | ||||||||||||||||||||
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). | ||||||||||||||||||||
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: | ||||||||||||||||||||
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) | |||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||
31-Dec-14 | ||||||||||||||||||||
Assets | ||||||||||||||||||||
Available-for-sale securities | ||||||||||||||||||||
Mortgage-backed securities (residential) | $ | 32,513 | $ | — | $ | 32,513 | $ | — | ||||||||||||
Collateralized mortgage obligations (residential) | 19,066 | — | 19,066 | — | ||||||||||||||||
Total available-for-sale securities | $ | 51,579 | $ | — | $ | 51,579 | $ | — | ||||||||||||
30-Jun-14 | ||||||||||||||||||||
Assets | ||||||||||||||||||||
Available-for-sale securities | ||||||||||||||||||||
Mortgage-backed securities (residential) | $ | 35,216 | $ | — | $ | 35,216 | $ | — | ||||||||||||
Collateralized mortgage obligations (residential) | 21,667 | — | 21,667 | — | ||||||||||||||||
Total available-for-sale securities | $ | 56,883 | $ | — | $ | 56,883 | $ | — | ||||||||||||
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: | ||||||||||||||||||||
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) | |||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||
Assets at December 31, 2014: | ||||||||||||||||||||
MSAs | $ | 81 | $ | — | $ | — | $ | 81 | ||||||||||||
Assets at June 30, 2014: | ||||||||||||||||||||
MSAs | $ | 75 | $ | — | $ | — | $ | 75 | ||||||||||||
At December 31, 2014 and June 30, 2014, no nonfinancial assets were measured at fair value on a non-recurring basis. | ||||||||||||||||||||
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 $16,000 as of December 31, 2014 as compared to $10,000 as of June 30, 2014. There was a $6,000 impairment provision recorded during the six months ended December 31, 2014. | ||||||||||||||||||||
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: | ||||||||||||||||||||
31-Dec-14 | Fair Value | Valuation Techniques | Unobservable Inputs | Range | ||||||||||||||||
(Weighted Avg) | ||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||
MSAs | $ | 81 | Discounted Cash Flow | Discount Rate | 8.50% | |||||||||||||||
Prepayment speed ("CPR") | 6.95% - 17.18% (10.85%) | |||||||||||||||||||
30-Jun-14 | Fair Value | Valuation Techniques | Unobservable Inputs | Range | ||||||||||||||||
(Weighted Avg) | ||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||
MSAs | $ | 75 | Discounted Cash Flow | Discount Rate | 8.50% | |||||||||||||||
Prepayment speed ("CPR") | 5.90% to 14.52% (8.38%) | |||||||||||||||||||
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 is 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. 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 it is associated with, the carrying amount of accrued interest receivable approximates 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: | ||||||||||||||||||||
Fair Value Measurements at December 31, 2014 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) | ||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||
Financial assets: | ||||||||||||||||||||
Cash on hand | $ | 11,836 | $ | 11,836 | $ | — | $ | — | $ | 11,836 | ||||||||||
Federal funds sold | 82,835 | — | 82,835 | — | 82,835 | |||||||||||||||
Securities held-to-maturity | 360 | — | 370 | — | 370 | |||||||||||||||
Federal Home Loan Bank Stock | 5,519 | N/A | N/A | N/A | N/A | |||||||||||||||
Loans held for sale | 2,039 | — | 2,127 | — | 2,127 | |||||||||||||||
Loans receivable, net | 680,879 | — | — | 704,777 | 704,777 | |||||||||||||||
MSAs | 870 | — | — | 1,023 | 1,023 | |||||||||||||||
Accrued interest receivable - loans | 1,970 | — | — | 1,970 | 1,970 | |||||||||||||||
Accrued interest receivable - investments | 84 | — | 84 | — | 84 | |||||||||||||||
Financial liabilities: | ||||||||||||||||||||
Deposits | 656,254 | — | 658,236 | — | 658,236 | |||||||||||||||
FHLB Advances | 65,000 | — | 65,839 | — | 65,839 | |||||||||||||||
Fair Value Measurements at June 30, 2014 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) | ||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||
Financial assets: | ||||||||||||||||||||
Cash and due from banks | $ | 7,988 | $ | 7,988 | $ | — | $ | — | $ | 7,988 | ||||||||||
Federal funds sold | 61,265 | — | 61,265 | — | 61,265 | |||||||||||||||
Securities held-to-maturity | 395 | — | 406 | — | 406 | |||||||||||||||
Federal Home Loan Bank Stock | 5,519 | N/A | N/A | N/A | N/A | |||||||||||||||
Loans held for sale | 3,687 | — | 3,840 | — | 3,840 | |||||||||||||||
Loans receivable, net | 715,750 | — | — | 738,391 | 738,391 | |||||||||||||||
MSAs | 696 | — | — | 982 | 982 | |||||||||||||||
Accrued interest receivable - loans | 2,159 | — | — | 2,159 | 2,159 | |||||||||||||||
Accrued interest receivable - investments | 93 | — | 93 | — | 93 | |||||||||||||||
Financial liabilities: | ||||||||||||||||||||
Deposits | 652,823 | — | 656,273 | — | 656,273 | |||||||||||||||
FHLB Advances | 85,000 | — | 86,066 | — | 86,066 | |||||||||||||||
Investments
Investments | 6 Months Ended | |||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||
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: | ||||||||||||||||||||||||
Fair | Gross | Gross | Amortized | |||||||||||||||||||||
Value | Unrealized | Unrealized | Cost | |||||||||||||||||||||
Gains | Losses | |||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||
31-Dec-14 | ||||||||||||||||||||||||
Mortgage-backed (residential): | ||||||||||||||||||||||||
Fannie Mae | $ | 6,193 | $ | 91 | $ | — | $ | 6,102 | ||||||||||||||||
Freddie Mac | 22,564 | 57 | (275 | ) | 22,782 | |||||||||||||||||||
Ginnie Mae | 3,756 | — | (11 | ) | 3,767 | |||||||||||||||||||
Collateralized mortgage obligations (residential): | ||||||||||||||||||||||||
Fannie Mae | 7,074 | 28 | (12 | ) | 7,058 | |||||||||||||||||||
Freddie Mac | 11,992 | 51 | — | 11,941 | ||||||||||||||||||||
Total | $ | 51,579 | $ | 227 | $ | (298 | ) | $ | 51,650 | |||||||||||||||
30-Jun-14 | ||||||||||||||||||||||||
Mortgage-backed (residential): | ||||||||||||||||||||||||
Fannie Mae | $ | 6,933 | $ | 109 | $ | — | $ | 6,824 | ||||||||||||||||
Freddie Mac | 24,136 | 43 | (376 | ) | 24,469 | |||||||||||||||||||
Ginnie Mae | 4,147 | 1 | — | 4,146 | ||||||||||||||||||||
Collateralized mortgage obligations (residential): | ||||||||||||||||||||||||
Fannie Mae | 8,640 | 19 | (11 | ) | 8,632 | |||||||||||||||||||
Freddie Mac | 13,027 | 9 | (12 | ) | 13,030 | |||||||||||||||||||
Total | $ | 56,883 | $ | 181 | $ | (399 | ) | $ | 57,101 | |||||||||||||||
The carrying amount, unrecognized gains and losses, and fair value of securities held-to-maturity were as follows: | ||||||||||||||||||||||||
Carrying | Gross | Gross | Fair | |||||||||||||||||||||
Amount | Unrecognized | Unrecognized | Value | |||||||||||||||||||||
Gains | Losses | |||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||
31-Dec-14 | ||||||||||||||||||||||||
Mortgage-backed (residential): | ||||||||||||||||||||||||
Fannie Mae | $ | 94 | $ | 2 | $ | — | $ | 96 | ||||||||||||||||
Freddie Mac | 52 | 2 | — | 54 | ||||||||||||||||||||
Ginnie Mae | 27 | 1 | — | 28 | ||||||||||||||||||||
Collateralized mortgage obligations (residential): | ||||||||||||||||||||||||
Fannie Mae | 187 | 5 | — | 192 | ||||||||||||||||||||
Total | $ | 360 | $ | 10 | $ | — | $ | 370 | ||||||||||||||||
30-Jun-14 | ||||||||||||||||||||||||
Mortgage-backed (residential): | ||||||||||||||||||||||||
Fannie Mae | $ | 100 | $ | 3 | $ | — | $ | 103 | ||||||||||||||||
Freddie Mac | 58 | 2 | — | 60 | ||||||||||||||||||||
Ginnie Mae | 30 | 1 | — | 31 | ||||||||||||||||||||
Collateralized mortgage obligations (residential): | ||||||||||||||||||||||||
Fannie Mae | 207 | 5 | — | 212 | ||||||||||||||||||||
Total | $ | 395 | $ | 11 | $ | — | $ | 406 | ||||||||||||||||
There were no sales of securities during the three and six months ended December 31, 2014 and December 31, 2013. | ||||||||||||||||||||||||
All mortgage-backed securities and collateralized mortgage obligations have varying contractual maturity dates at December 31, 2014. 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, 2014. | ||||||||||||||||||||||||
Securities with unrealized losses at December 31, 2014 and June 30, 2014, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, are as follows: | ||||||||||||||||||||||||
Less than 12 months | 12 months or more | Total | ||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||||||
Value | Loss | Value | Loss | Value | Loss | |||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||
31-Dec-14 | ||||||||||||||||||||||||
Description of Securities | ||||||||||||||||||||||||
Mortgage-backed securities | $ | 8,570 | $ | (11 | ) | $ | 15,362 | $ | (275 | ) | $ | 23,932 | $ | (286 | ) | |||||||||
Collateralized mortgage obligations (residential) | 682 | (5 | ) | 712 | (7 | ) | 1,394 | (12 | ) | |||||||||||||||
Total temporarily impaired | $ | 9,252 | $ | (16 | ) | $ | 16,074 | $ | (282 | ) | $ | 25,326 | $ | (298 | ) | |||||||||
30-Jun-14 | ||||||||||||||||||||||||
Description of Securities | ||||||||||||||||||||||||
Mortgage-backed securities | $ | — | $ | — | $ | 16,404 | $ | (376 | ) | $ | 16,404 | $ | (376 | ) | ||||||||||
Collateralized mortgage obligations (residential) | 12,636 | (14 | ) | 1,598 | (9 | ) | 14,234 | (23 | ) | |||||||||||||||
Total temporarily impaired | $ | 12,636 | $ | (14 | ) | $ | 18,002 | $ | (385 | ) | $ | 30,638 | $ | (399 | ) | |||||||||
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, 2014, eight debt securities had an aggregate unrealized loss of 1.4% of the Company’s amortized cost basis. At June 30, 2014, ten debt securities had an unrealized loss of 1.3% 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 a wholly-owned government corporation, Ginnie Mae, or U.S. government-sponsored enterprises and agencies, including 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, 2014 and June 30, 2014. | ||||||||||||||||||||||||
At December 31, 2014 and June 30, 2014, 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, 2014 | ||||||||||||||||||||||||||||
Receivables [Abstract] | ||||||||||||||||||||||||||||
Loans | Loans | |||||||||||||||||||||||||||
The composition of loans consists of the following: | ||||||||||||||||||||||||||||
December 31, | June 30, | |||||||||||||||||||||||||||
2014 | 2014 | |||||||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||||||
Real Estate: | ||||||||||||||||||||||||||||
One-to-four family residential | $ | 278,501 | $ | 288,960 | ||||||||||||||||||||||||
Multi-family residential | 313,270 | 335,040 | ||||||||||||||||||||||||||
Commercial real estate | 31,477 | 38,062 | ||||||||||||||||||||||||||
623,248 | 662,062 | |||||||||||||||||||||||||||
Consumer: | ||||||||||||||||||||||||||||
Automobile | 48,351 | 45,686 | ||||||||||||||||||||||||||
Home equity | 607 | 625 | ||||||||||||||||||||||||||
Other consumer loans, primarily unsecured | 12,323 | 11,481 | ||||||||||||||||||||||||||
61,281 | 57,792 | |||||||||||||||||||||||||||
Total loans | 684,529 | 719,854 | ||||||||||||||||||||||||||
Deferred net loan origination costs | 44 | 213 | ||||||||||||||||||||||||||
Net premium on purchased loans | 220 | 263 | ||||||||||||||||||||||||||
Allowance for loan losses | (3,914 | ) | (4,580 | ) | ||||||||||||||||||||||||
Loans receivable, net | $ | 680,879 | $ | 715,750 | ||||||||||||||||||||||||
Loans held for sale totaled $2.0 million as of December 31, 2014 as compared to $3.7 million as of June 30, 2014. 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 $19.3 million and $17.0 million during the six months ended December 31, 2014 and 2013, resulting in net gain on sales of $311,000 and $330,000, respectively. | ||||||||||||||||||||||||||||
The following is an analysis of the changes in the allowance for loan losses: | ||||||||||||||||||||||||||||
Allowance for loan losses for the | ||||||||||||||||||||||||||||
Three months ended December 31, 2014 | ||||||||||||||||||||||||||||
One-to-four | Multi-family | Commercial | Automobile | Home | Other | Total | ||||||||||||||||||||||
family | residential | real estate | equity | |||||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||||||
Balance, beginning of period | $ | 2,151 | $ | 722 | $ | 1,103 | $ | 253 | $ | 2 | $ | 99 | $ | 4,330 | ||||||||||||||
Provision for loan losses | (217 | ) | (145 | ) | (153 | ) | 50 | — | 65 | (400 | ) | |||||||||||||||||
Recoveries | — | — | — | 15 | — | 5 | 20 | |||||||||||||||||||||
Loans charged-off | — | — | — | (21 | ) | — | (15 | ) | (36 | ) | ||||||||||||||||||
Balance, end of period | $ | 1,934 | $ | 577 | $ | 950 | $ | 297 | $ | 2 | $ | 154 | $ | 3,914 | ||||||||||||||
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 | |||||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||
Six Months Ended December 31, 2014 | ||||||||||||||||||||||||||||
One-to-four | Multi-family | Commercial | Automobile | Home | Other | Total | ||||||||||||||||||||||
family | residential | real estate | equity | |||||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||||||
Balance, beginning of period | $ | 2,300 | $ | 993 | $ | 1,051 | $ | 136 | $ | 2 | $ | 98 | $ | 4,580 | ||||||||||||||
Provision for loan losses | (366 | ) | (416 | ) | (354 | ) | 282 | — | 104 | (750 | ) | |||||||||||||||||
Recoveries | — | — | 253 | 17 | — | 8 | 278 | |||||||||||||||||||||
Loans charged-off | — | — | — | (138 | ) | — | (56 | ) | (194 | ) | ||||||||||||||||||
Balance, end of period | $ | 1,934 | $ | 577 | $ | 950 | $ | 297 | $ | 2 | $ | 154 | $ | 3,914 | ||||||||||||||
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 | |||||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||||||
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 | ||||||||||||||
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, 2014 and June 30, 2014: | ||||||||||||||||||||||||||||
31-Dec-14 | One-to-four | Multi-family | Commercial | Automobile | Home | Other | Total | |||||||||||||||||||||
family | residential | real estate | equity | |||||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||||||
Allowance for loan losses: | ||||||||||||||||||||||||||||
Ending allowance balance attributed to loans: | ||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 673 | $ | — | $ | 40 | $ | — | $ | — | $ | 6 | $ | 719 | ||||||||||||||
Collectively evaluated for impairment | 1,261 | 577 | 910 | 297 | 2 | 148 | 3,195 | |||||||||||||||||||||
Total ending allowance balance | $ | 1,934 | $ | 577 | $ | 950 | $ | 297 | $ | 2 | $ | 154 | $ | 3,914 | ||||||||||||||
One-to-four | Multi-family | Commercial | Automobile | Home | Other | Total | ||||||||||||||||||||||
family | residential | real estate | equity | |||||||||||||||||||||||||
Loans: | ||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 11,693 | $ | 1,214 | $ | 2,501 | $ | — | $ | — | $ | 6 | $ | 15,414 | ||||||||||||||
Collectively evaluated for impairment | 266,808 | 312,056 | 28,976 | 48,351 | 607 | 12,317 | 669,115 | |||||||||||||||||||||
Total ending loan balance | $ | 278,501 | $ | 313,270 | $ | 31,477 | $ | 48,351 | $ | 607 | $ | 12,323 | $ | 684,529 | ||||||||||||||
30-Jun-14 | One-to-four | Multi-family | Commercial | Automobile | Home | Other | Total | |||||||||||||||||||||
family | residential | real estate | equity | |||||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||||||
Allowance for loan losses: | ||||||||||||||||||||||||||||
Ending allowance balance attributed to loans: | ||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 910 | $ | — | $ | 52 | $ | 2 | $ | — | $ | 15 | $ | 979 | ||||||||||||||
Collectively evaluated for impairment | 1,390 | 993 | 999 | 134 | 2 | 83 | 3,601 | |||||||||||||||||||||
Total ending allowance balance | $ | 2,300 | $ | 993 | $ | 1,051 | $ | 136 | $ | 2 | $ | 98 | $ | 4,580 | ||||||||||||||
One-to-four | Multi-family | Commercial | Automobile | Home | Other | Total | ||||||||||||||||||||||
family | residential | real estate | equity | |||||||||||||||||||||||||
Loans: | ||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 12,431 | $ | 1,263 | $ | 3,506 | $ | 2 | $ | — | $ | 15 | $ | 17,217 | ||||||||||||||
Collectively evaluated for impairment | 276,529 | 333,777 | 34,556 | 45,684 | 625 | 11,466 | 702,637 | |||||||||||||||||||||
Total ending loan balance | $ | 288,960 | $ | 335,040 | $ | 38,062 | $ | 45,686 | $ | 625 | $ | 11,481 | $ | 719,854 | ||||||||||||||
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. There were no collateral dependent loans measured at fair value with a valuation allowance recorded and $6.9 million impaired loans evaluated based on the loans’ present value of expected cash flows with a valuation allowance of $713,000 at December 31, 2014. This compares to no collateral dependent loans measured at fair value with a valuation allowance recorded and $8.6 million impaired loans evaluated based on the loans’ present value of expected cash flows with a valuation allowance of $962,000 at June 30, 2014. | ||||||||||||||||||||||||||||
The following tables present loans individually evaluated for impairment by class of loans as of December 31, 2014 and June 30, 2014: | ||||||||||||||||||||||||||||
31-Dec-14 | Unpaid Principal | Recorded | Allowance for Loan | |||||||||||||||||||||||||
Balance | Investment | Losses Allocated | ||||||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||||||
With no related allowance recorded: | ||||||||||||||||||||||||||||
Real estate loans: | ||||||||||||||||||||||||||||
One-to-four family | $ | 6,980 | $ | 5,910 | $ | — | ||||||||||||||||||||||
Multi-family residential | 1,638 | 1,214 | — | |||||||||||||||||||||||||
Commercial real estate | 1,876 | 1,344 | — | |||||||||||||||||||||||||
10,494 | 8,468 | — | ||||||||||||||||||||||||||
With an allowance recorded: | ||||||||||||||||||||||||||||
Real estate loans: | ||||||||||||||||||||||||||||
One-to-four family | 6,054 | 5,783 | 673 | |||||||||||||||||||||||||
Commercial real estate | 1,157 | 1,157 | 40 | |||||||||||||||||||||||||
Other loans: | ||||||||||||||||||||||||||||
Other | 6 | 6 | 6 | |||||||||||||||||||||||||
7,217 | 6,946 | 719 | ||||||||||||||||||||||||||
Total | $ | 17,711 | $ | 15,414 | $ | 719 | ||||||||||||||||||||||
30-Jun-14 | Unpaid Principal | Recorded | Allowance for Loan | |||||||||||||||||||||||||
Balance | Investment | Losses Allocated | ||||||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||||||
With no related allowance recorded: | ||||||||||||||||||||||||||||
Real estate loans: | ||||||||||||||||||||||||||||
One-to-four family | $ | 6,175 | $ | 5,035 | $ | — | ||||||||||||||||||||||
Multi-family residential | 1,656 | 1,263 | — | |||||||||||||||||||||||||
Commercial real estate | 3,084 | 2,336 | — | |||||||||||||||||||||||||
10,915 | 8,634 | — | ||||||||||||||||||||||||||
With an allowance recorded: | ||||||||||||||||||||||||||||
Real estate loans: | ||||||||||||||||||||||||||||
One-to-four family | 7,705 | 7,396 | 910 | |||||||||||||||||||||||||
Commercial real estate | 1,170 | 1,170 | 52 | |||||||||||||||||||||||||
Other loans: | ||||||||||||||||||||||||||||
Automobile | 2 | 2 | 2 | |||||||||||||||||||||||||
Other | 15 | 15 | 15 | |||||||||||||||||||||||||
8,892 | 8,583 | 979 | ||||||||||||||||||||||||||
Total | $ | 19,807 | $ | 17,217 | $ | 979 | ||||||||||||||||||||||
The following table presents monthly average of individually impaired loans by class for the three and six months ended December 31, 2014 and 2013: | ||||||||||||||||||||||||||||
Three months ended | Six months ended | |||||||||||||||||||||||||||
December 31, | December 31, | |||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||||||
Real estate loan: | ||||||||||||||||||||||||||||
One-to-four family | $ | 11,636 | $ | 13,561 | $ | 11,901 | $ | 13,971 | ||||||||||||||||||||
Multi-family residential | 1,227 | 1,921 | 1,239 | 1,796 | ||||||||||||||||||||||||
Commercial real estate | 2,527 | 5,744 | 2,854 | 5,875 | ||||||||||||||||||||||||
Total | $ | 15,390 | $ | 21,226 | $ | 15,994 | $ | 21,642 | ||||||||||||||||||||
Payments received on non-accrual 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 $148,000 and $228,000 for the three months ended December 31, 2014 and 2013, respectively, and was not included in the results of operations, of which $116,000 and $155,000, respectively, was collected and applied to the net loan balances. Foregone interest income amounted to $307,000 and $444,000 for the six months ended December 31, 2014 and 2013, respectively, and was not included in the results of operations, of which $261,000 and $306,000, 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: | ||||||||||||||||||||||||||||
Three months ended | Six months ended | |||||||||||||||||||||||||||
December 31, | December 31, | |||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||||||
Real estate loan: | ||||||||||||||||||||||||||||
One-to-four family | $ | 69 | $ | 102 | $ | 151 | $ | 195 | ||||||||||||||||||||
Multi-family residential | 16 | 28 | 32 | 58 | ||||||||||||||||||||||||
Commercial real estate | 31 | 25 | 78 | 53 | ||||||||||||||||||||||||
Total | $ | 116 | $ | 155 | $ | 261 | $ | 306 | ||||||||||||||||||||
At December 31, 2014 and June 30, 2014, 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: | ||||||||||||||||||||||||||||
Non-accrual loans: | 31-Dec-14 | 30-Jun-14 | ||||||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||||||
Real estate loans: | ||||||||||||||||||||||||||||
One-to-four family | $ | 5,711 | $ | 5,390 | ||||||||||||||||||||||||
Multi-family residential | 738 | 781 | ||||||||||||||||||||||||||
Commercial | 1,344 | 1,460 | ||||||||||||||||||||||||||
Other loans: | ||||||||||||||||||||||||||||
Automobile | — | 2 | ||||||||||||||||||||||||||
Other | 6 | 15 | ||||||||||||||||||||||||||
Total non-accrual loans | $ | 7,799 | $ | 7,648 | ||||||||||||||||||||||||
There were nine one-to-four family residential loans totaling $3.2 million, two multi-family loans totaling $737,000, and two commercial real estate loans totaling $1.3 million on non-accrual status that were performing in accordance with their contractual terms at December 31, 2014. There were seven one-to-four family residential loans totaling $2.1 million and two multi-family loans totaling $781,000 on non-accrual status that were performing in accordance with their contractual terms at June 30, 2014. | ||||||||||||||||||||||||||||
The following tables present the aging of past due loans by class of loans: | ||||||||||||||||||||||||||||
31-Dec-14 | 30-59 Days | 60-89 Days | 90 Days or | Total | Total | Total Loans | ||||||||||||||||||||||
Delinquent | Delinquent | More | Delinquent | Current | ||||||||||||||||||||||||
Delinquent | Loans | Loans | ||||||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||||||
Real estate loans: | ||||||||||||||||||||||||||||
One-to-four family | $ | 1,374 | $ | 160 | $ | 967 | $ | 2,501 | $ | 276,000 | $ | 278,501 | ||||||||||||||||
Multi-family | — | — | — | — | 313,270 | 313,270 | ||||||||||||||||||||||
Commercial | — | — | — | — | 31,477 | 31,477 | ||||||||||||||||||||||
Other loans: | ||||||||||||||||||||||||||||
Automobile | 261 | 49 | — | 310 | 48,041 | 48,351 | ||||||||||||||||||||||
Home Equity | — | — | — | — | 607 | 607 | ||||||||||||||||||||||
Other | 58 | 20 | 2 | 80 | 12,243 | 12,323 | ||||||||||||||||||||||
Total loans | $ | 1,693 | $ | 229 | $ | 969 | $ | 2,891 | $ | 681,638 | $ | 684,529 | ||||||||||||||||
30-Jun-14 | 30-59 Days | 60-89 Days | 90 Days or | Total | Total | Total Loans | ||||||||||||||||||||||
Delinquent | Delinquent | More | Delinquent | Current | ||||||||||||||||||||||||
Delinquent | Loans | Loans | ||||||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||||||
Real estate loans: | ||||||||||||||||||||||||||||
One-to-four family | $ | 2,123 | $ | 409 | $ | 301 | $ | 2,833 | $ | 286,127 | $ | 288,960 | ||||||||||||||||
Multi-family | — | — | — | — | 335,040 | 335,040 | ||||||||||||||||||||||
Commercial | 1,061 | — | 399 | 1,460 | 36,602 | 38,062 | ||||||||||||||||||||||
Other loans: | ||||||||||||||||||||||||||||
Automobile | 113 | 15 | 2 | 130 | 45,556 | 45,686 | ||||||||||||||||||||||
Home Equity | — | — | — | — | 625 | 625 | ||||||||||||||||||||||
Other | 31 | 4 | 15 | 50 | 11,431 | 11,481 | ||||||||||||||||||||||
Total loans | $ | 3,328 | $ | 428 | $ | 717 | $ | 4,473 | $ | 715,381 | $ | 719,854 | ||||||||||||||||
Troubled Debt Restructurings: | ||||||||||||||||||||||||||||
Troubled debt restructurings totaled $10.2 million and $12.5 million at December 31, 2014 and June 30, 2014, respectively. Troubled debt restructurings of $2.6 million and $2.9 million are included in the non-accrual loans at December 31, 2014 and June 30, 2014. The Bank has allocated $61,000 and $79,000 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, 2014 and June 30, 2014, 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, 2014, one troubled debt restructuring with an aggregate outstanding balance of $203,000 was returned to accrual status as a result of the borrower 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 eight troubled debt restructurings returning with an aggregate outstanding balance of $2.8 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, 2014 and June 30, 2014. | ||||||||||||||||||||||||||||
During the six months ended December 31, 2014 and 2013, there were no new loans that were modified as troubled debt restructurings. | ||||||||||||||||||||||||||||
At December 31, 2014 and 2013, there were no loans modified as troubled debt restructurings 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, 2014 and 2013 that did not meet the definition of a troubled debt restructuring. During the three and six months ended December 31, 2014, seven loans in the amount of $2.7 million and seventeen loans in the amount of $5.8 million were modified and not accounted for as troubled debt restructurings. 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.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, 2014 and June 30, 2014, and based on the most recent analysis performed, the risk category of loans by class of loans is as follows: | ||||||||||||||||||||||||||||
31-Dec-14 | Pass | Special Mention | Substandard | Doubtful | Loss | |||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||||||
Real estate loans: | ||||||||||||||||||||||||||||
One-to-four family | $ | 263,379 | $ | 8,477 | $ | 6,645 | $ | — | $ | — | ||||||||||||||||||
Multi-family | 309,791 | 2,300 | 1,179 | — | — | |||||||||||||||||||||||
Commercial | 19,272 | 2,959 | 9,246 | — | — | |||||||||||||||||||||||
Other loans: | ||||||||||||||||||||||||||||
Automobile | 47,909 | 235 | 162 | 45 | — | |||||||||||||||||||||||
Home equity | 607 | — | — | — | — | |||||||||||||||||||||||
Other | 12,240 | 18 | 12 | 47 | 6 | |||||||||||||||||||||||
Total loans | $ | 653,198 | $ | 13,989 | $ | 17,244 | $ | 92 | $ | 6 | ||||||||||||||||||
30-Jun-14 | Pass | Special Mention | Substandard | Doubtful | Loss | |||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||||||
Real estate loans: | ||||||||||||||||||||||||||||
One-to-four family | $ | 272,261 | $ | 10,257 | $ | 6,442 | $ | — | $ | — | ||||||||||||||||||
Multi-family | 327,999 | 3,174 | 3,867 | — | — | |||||||||||||||||||||||
Commercial | 24,708 | 7,556 | 5,798 | — | — | |||||||||||||||||||||||
Other loans: | ||||||||||||||||||||||||||||
Automobile | 45,542 | 87 | 55 | — | 2 | |||||||||||||||||||||||
Home equity | 625 | — | — | — | — | |||||||||||||||||||||||
Other | 11,455 | 8 | 2 | 1 | 15 | |||||||||||||||||||||||
Total loans | $ | 682,590 | $ | 21,082 | $ | 16,164 | $ | 1 | $ | 17 | ||||||||||||||||||
Real_Estate_Owned
Real Estate Owned | 6 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Banking and Thrift [Abstract] | ||||||||
Real Estate Owned | Real Estate Owned | |||||||
Changes in real estate owned are summarized as follows: | ||||||||
Six months ended | ||||||||
31-Dec-14 | 31-Dec-13 | |||||||
(Dollars in thousands) | ||||||||
Beginning of period | $ | 284 | $ | — | ||||
Transfers in | 306 | 539 | ||||||
Capitalized expenditures | — | 70 | ||||||
Sales | (590 | ) | (325 | ) | ||||
End of period | $ | — | $ | 284 | ||||
Net income (expenses) related to foreclosed assets are as follows and are included in net operating expense: | ||||||||
Six months ended | ||||||||
December 31, | December 31, | |||||||
2014 | 2013 | |||||||
(Dollars in thousands) | ||||||||
Net gain on sales | $ | 181 | $ | 4 | ||||
Net operating expense | (13 | ) | (19 | ) | ||||
Total | $ | 168 | $ | (15 | ) | |||
The company has no valuation allowance or activity in the valuation allowance account during the six months ended December 31, 2014 and 2013. |
Federal_Home_Loan_Bank_Advance
Federal Home Loan Bank Advances | 6 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Banking and Thrift [Abstract] | ||||||||
Federal Home Loan Bank Advances | Federal Home Loan Bank Advances | |||||||
FHLB advances were $65.0 million and $85.0 million at December 31, 2014 and June 30, 2014, respectively. At December 31, 2014, 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 1.80%. At June 30, 2014, 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%. | ||||||||
The contractual maturities by fiscal year of the Bank’s FHLB advances over the next five years and thereafter are as follows: | ||||||||
December 31, | June 30, | |||||||
2014 | 2014 | |||||||
Fiscal Year of Maturity | (Dollars in thousands) | |||||||
2015 | $ | — | $ | 20,000 | ||||
2016 | — | — | ||||||
2017 | 25,000 | 25,000 | ||||||
2018 | 10,000 | 10,000 | ||||||
2019 | 30,000 | 30,000 | ||||||
Total | $ | 65,000 | $ | 85,000 | ||||
Change_in_Accumulated_Other_Co
Change in Accumulated Other Comprehensive Loss | 6 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
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, fro the three and six months ended December 31, 2014 and 2013. | |||||||||||||
Three Months Ended December 31, 2014 | |||||||||||||
Unrealized gains | Postretirement | Total | |||||||||||
and losses on | medical benefits | ||||||||||||
securities | costs items | ||||||||||||
available-for-sale | |||||||||||||
(Dollars in thousands) | |||||||||||||
Balance at beginning of period | $ | (172 | ) | $ | (85 | ) | $ | (257 | ) | ||||
Other comprehensive income (loss) before reclassifications | 202 | (8 | ) | 194 | |||||||||
Amounts reclassified from accumulated other | — | 8 | 8 | ||||||||||
comprehensive income | |||||||||||||
Tax effect of current period changes | (83 | ) | — | (83 | ) | ||||||||
Net current period other comprehensive income | 119 | — | 119 | ||||||||||
Balance at end of period | $ | (53 | ) | $ | (85 | ) | $ | (138 | ) | ||||
Three Months Ended December 31, 2013 | |||||||||||||
Unrealized gains | Postretirement | Total | |||||||||||
and losses on | medical benefits | ||||||||||||
securities | costs items | ||||||||||||
available-for-sale | |||||||||||||
(Dollars in thousands) | |||||||||||||
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, 2014 | |||||||||||||
Unrealized gains | Postretirement | Total | |||||||||||
and losses on | medical benefits | ||||||||||||
securities | costs items | ||||||||||||
available-for-sale | |||||||||||||
(Dollars in thousands) | |||||||||||||
Balance at beginning of period | $ | (139 | ) | $ | (85 | ) | $ | (224 | ) | ||||
Other comprehensive income (loss) before reclassifications | 147 | (21 | ) | 126 | |||||||||
Amounts reclassified from accumulated other | — | 21 | 21 | ||||||||||
comprehensive income | |||||||||||||
Tax effect of current period changes | (61 | ) | — | (61 | ) | ||||||||
Net current period other comprehensive income | 86 | — | 86 | ||||||||||
Balance at end of period | $ | (53 | ) | $ | (85 | ) | $ | (138 | ) | ||||
Six Months Ended December 31, 2013 | |||||||||||||
Unrealized gains | Postretirement | Total | |||||||||||
and losses on | medical benefits | ||||||||||||
securities | costs items | ||||||||||||
available-for-sale | |||||||||||||
(Dollars in thousands) | |||||||||||||
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 | ) |
Repurchase_of_Common_Stock
Repurchase of Common Stock | 6 Months Ended |
Dec. 31, 2014 | |
Equity [Abstract] | |
Repurchase of Common Stock | Repurchase of Common Stock |
On February 27, 2014 the Company announced that its Board of Directors authorized the sixth stock repurchase program pursuant to which the Company intends to repurchase up to 5% of its issued and outstanding shares, or up to approximately 374,393 shares. Since November 2011, the Company has repurchased 2,312,765 shares under stock repurchase programs. The shares were repurchased at prices ranging from $12.00 to $17.90 per share with a weighted average cost of $15.02 per share. At December 31, 2014, there were 240,079 shares remaining to be repurchased under the sixth authorized stock repurchase program. For the six months ended December 31, 2014, the Company did not repurchase any shares. |
Nature_of_Business_and_Signifi1
Nature of Business and Significant Accounting Policies - (Policies) | 6 Months Ended |
Dec. 31, 2014 | |
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, 2014 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, 2015. 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 2014 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: |
Effect of Newly Issued But Not Yet Effective Accounting Standards: | |
In January 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-01, Investments-Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Qualified Affordable Housing Projects, which simplifies the amortization method an entity uses and modifies the criteria an entity must meet to account for a low-income housing tax credit investment by using ASC 323-740’s measurement and presentation alternative, including the simplified amortization method. This method permits an investment’s performance to be presented net of the related tax benefits as part of income tax expense. For public entities, the ASU is effective for annual periods beginning after December 15, 2014, and interim periods therein. Early adoption is permitted. The amendments should be applied retrospectively to all periods presented. The adoption of this guidance is not expected to have a material effect on the Company's results of operations or financial position. | |
In January 2014, the FASB issued ASU 2014-04, Receivables-Troubled Debt Restructurings by Creditors (Subtopic 310-40): Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans Upon Foreclosure. This ASU amends ASC 310 to clarify when an entity is considered to have obtained physical possession (from an in-substance possession or foreclosure) of a residential real estate property collateralizing a mortgage loan. A creditor is considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan, upon either (1) the creditor obtaining legal title to the residential real estate property upon completion of a foreclosure or (2) the borrower conveying all interest in the residential real estate property to the creditor to satisfy that loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. Upon physical possession of such real estate property, an entity is required to reclassify the nonperforming mortgage loan to other real estate owned. The ASU is effective for public business entities for annual periods, and interim periods within those annual periods, beginning after December 15, 2014. Early adoption is permitted. The amendments in the standard may be adopted using either a modified retrospective transition method or a prospective transition method. The adoption of this guidance is not expected to have a material effect on the Company's results of operations or financial position. | |
In May 2014, the FASB issued ASU No. 2014-09, Revenue From Contracts With Customers, that outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry-specific guidance. The ASU is based on the principle that an entity should recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The ASU also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to fulfill a contract. Entities have the option of using either a full retrospective or a modified retrospective approach for the adoption of the new standard. The ASU becomes effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. Early application is not permitted. The adoption of this guidance is not expected to have a material effect on the Company's results of operations or financial position. |
Earnings_Per_Share_Tables
Earnings Per Share - (Tables) | 6 Months Ended | |||||||||||||||
Dec. 31, 2014 | ||||||||||||||||
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, 2014 and 2013: | |||||||||||||||
Three months ended | Six months ended | |||||||||||||||
December 31, | December 31, | |||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||
(Dollars in thousands, except per share data) | ||||||||||||||||
Basic | ||||||||||||||||
Net income | $ | 940 | $ | 1,340 | $ | 2,017 | $ | 2,489 | ||||||||
Less: Net income allocated to restricted stock awards | 11 | 11 | 21 | 21 | ||||||||||||
Net income allocated to common shareholders | $ | 929 | $ | 1,329 | $ | 1,996 | $ | 2,468 | ||||||||
Weighted average common shares outstanding | 6,975,798 | 7,410,160 | 6,970,620 | 7,518,064 | ||||||||||||
Basic earnings per common share | $ | 0.13 | $ | 0.18 | $ | 0.29 | $ | 0.33 | ||||||||
Diluted | ||||||||||||||||
Net income | $ | 940 | $ | 1,340 | $ | 2,017 | $ | 2,489 | ||||||||
Less: Net income allocated to restricted stock awards | 11 | 11 | 21 | 21 | ||||||||||||
Net income allocated to common shareholders | $ | 929 | $ | 1,329 | $ | 1,996 | $ | 2,468 | ||||||||
Weighted average common shares outstanding | 6,975,798 | 7,410,160 | 6,970,620 | 7,518,064 | ||||||||||||
Add: Dilutive effect of stock options | 25,753 | 22,642 | 25,810 | 21,082 | ||||||||||||
Average shares and dilutive potential common shares | 7,001,551 | 7,432,802 | 6,996,430 | 7,539,146 | ||||||||||||
Diluted earnings per common share | $ | 0.13 | $ | 0.18 | $ | 0.29 | $ | 0.33 | ||||||||
Fair_Value_Measurements_Tables
Fair Value Measurements - (Tables) | 6 Months Ended | |||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||
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: | |||||||||||||||||||
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) | |||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||
31-Dec-14 | ||||||||||||||||||||
Assets | ||||||||||||||||||||
Available-for-sale securities | ||||||||||||||||||||
Mortgage-backed securities (residential) | $ | 32,513 | $ | — | $ | 32,513 | $ | — | ||||||||||||
Collateralized mortgage obligations (residential) | 19,066 | — | 19,066 | — | ||||||||||||||||
Total available-for-sale securities | $ | 51,579 | $ | — | $ | 51,579 | $ | — | ||||||||||||
30-Jun-14 | ||||||||||||||||||||
Assets | ||||||||||||||||||||
Available-for-sale securities | ||||||||||||||||||||
Mortgage-backed securities (residential) | $ | 35,216 | $ | — | $ | 35,216 | $ | — | ||||||||||||
Collateralized mortgage obligations (residential) | 21,667 | — | 21,667 | — | ||||||||||||||||
Total available-for-sale securities | $ | 56,883 | $ | — | $ | 56,883 | $ | — | ||||||||||||
Assets Measured at Fair Value on Non Recurring Basis | The following assets were measured at fair value on a non-recurring basis: | |||||||||||||||||||
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) | |||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||
Assets at December 31, 2014: | ||||||||||||||||||||
MSAs | $ | 81 | $ | — | $ | — | $ | 81 | ||||||||||||
Assets at June 30, 2014: | ||||||||||||||||||||
MSAs | $ | 75 | $ | — | $ | — | $ | 75 | ||||||||||||
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: | |||||||||||||||||||
31-Dec-14 | Fair Value | Valuation Techniques | Unobservable Inputs | Range | ||||||||||||||||
(Weighted Avg) | ||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||
MSAs | $ | 81 | Discounted Cash Flow | Discount Rate | 8.50% | |||||||||||||||
Prepayment speed ("CPR") | 6.95% - 17.18% (10.85%) | |||||||||||||||||||
30-Jun-14 | Fair Value | Valuation Techniques | Unobservable Inputs | Range | ||||||||||||||||
(Weighted Avg) | ||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||
MSAs | $ | 75 | Discounted Cash Flow | Discount Rate | 8.50% | |||||||||||||||
Prepayment speed ("CPR") | 5.90% to 14.52% (8.38%) | |||||||||||||||||||
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: | |||||||||||||||||||
Fair Value Measurements at December 31, 2014 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) | ||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||
Financial assets: | ||||||||||||||||||||
Cash on hand | $ | 11,836 | $ | 11,836 | $ | — | $ | — | $ | 11,836 | ||||||||||
Federal funds sold | 82,835 | — | 82,835 | — | 82,835 | |||||||||||||||
Securities held-to-maturity | 360 | — | 370 | — | 370 | |||||||||||||||
Federal Home Loan Bank Stock | 5,519 | N/A | N/A | N/A | N/A | |||||||||||||||
Loans held for sale | 2,039 | — | 2,127 | — | 2,127 | |||||||||||||||
Loans receivable, net | 680,879 | — | — | 704,777 | 704,777 | |||||||||||||||
MSAs | 870 | — | — | 1,023 | 1,023 | |||||||||||||||
Accrued interest receivable - loans | 1,970 | — | — | 1,970 | 1,970 | |||||||||||||||
Accrued interest receivable - investments | 84 | — | 84 | — | 84 | |||||||||||||||
Financial liabilities: | ||||||||||||||||||||
Deposits | 656,254 | — | 658,236 | — | 658,236 | |||||||||||||||
FHLB Advances | 65,000 | — | 65,839 | — | 65,839 | |||||||||||||||
Fair Value Measurements at June 30, 2014 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) | ||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||
Financial assets: | ||||||||||||||||||||
Cash and due from banks | $ | 7,988 | $ | 7,988 | $ | — | $ | — | $ | 7,988 | ||||||||||
Federal funds sold | 61,265 | — | 61,265 | — | 61,265 | |||||||||||||||
Securities held-to-maturity | 395 | — | 406 | — | 406 | |||||||||||||||
Federal Home Loan Bank Stock | 5,519 | N/A | N/A | N/A | N/A | |||||||||||||||
Loans held for sale | 3,687 | — | 3,840 | — | 3,840 | |||||||||||||||
Loans receivable, net | 715,750 | — | — | 738,391 | 738,391 | |||||||||||||||
MSAs | 696 | — | — | 982 | 982 | |||||||||||||||
Accrued interest receivable - loans | 2,159 | — | — | 2,159 | 2,159 | |||||||||||||||
Accrued interest receivable - investments | 93 | — | 93 | — | 93 | |||||||||||||||
Financial liabilities: | ||||||||||||||||||||
Deposits | 652,823 | — | 656,273 | — | 656,273 | |||||||||||||||
FHLB Advances | 85,000 | — | 86,066 | — | 86,066 | |||||||||||||||
Investments_Tables
Investments - (Tables) | 6 Months Ended | |||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||
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: | |||||||||||||||||||||||
Fair | Gross | Gross | Amortized | |||||||||||||||||||||
Value | Unrealized | Unrealized | Cost | |||||||||||||||||||||
Gains | Losses | |||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||
31-Dec-14 | ||||||||||||||||||||||||
Mortgage-backed (residential): | ||||||||||||||||||||||||
Fannie Mae | $ | 6,193 | $ | 91 | $ | — | $ | 6,102 | ||||||||||||||||
Freddie Mac | 22,564 | 57 | (275 | ) | 22,782 | |||||||||||||||||||
Ginnie Mae | 3,756 | — | (11 | ) | 3,767 | |||||||||||||||||||
Collateralized mortgage obligations (residential): | ||||||||||||||||||||||||
Fannie Mae | 7,074 | 28 | (12 | ) | 7,058 | |||||||||||||||||||
Freddie Mac | 11,992 | 51 | — | 11,941 | ||||||||||||||||||||
Total | $ | 51,579 | $ | 227 | $ | (298 | ) | $ | 51,650 | |||||||||||||||
30-Jun-14 | ||||||||||||||||||||||||
Mortgage-backed (residential): | ||||||||||||||||||||||||
Fannie Mae | $ | 6,933 | $ | 109 | $ | — | $ | 6,824 | ||||||||||||||||
Freddie Mac | 24,136 | 43 | (376 | ) | 24,469 | |||||||||||||||||||
Ginnie Mae | 4,147 | 1 | — | 4,146 | ||||||||||||||||||||
Collateralized mortgage obligations (residential): | ||||||||||||||||||||||||
Fannie Mae | 8,640 | 19 | (11 | ) | 8,632 | |||||||||||||||||||
Freddie Mac | 13,027 | 9 | (12 | ) | 13,030 | |||||||||||||||||||
Total | $ | 56,883 | $ | 181 | $ | (399 | ) | $ | 57,101 | |||||||||||||||
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: | |||||||||||||||||||||||
Carrying | Gross | Gross | Fair | |||||||||||||||||||||
Amount | Unrecognized | Unrecognized | Value | |||||||||||||||||||||
Gains | Losses | |||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||
31-Dec-14 | ||||||||||||||||||||||||
Mortgage-backed (residential): | ||||||||||||||||||||||||
Fannie Mae | $ | 94 | $ | 2 | $ | — | $ | 96 | ||||||||||||||||
Freddie Mac | 52 | 2 | — | 54 | ||||||||||||||||||||
Ginnie Mae | 27 | 1 | — | 28 | ||||||||||||||||||||
Collateralized mortgage obligations (residential): | ||||||||||||||||||||||||
Fannie Mae | 187 | 5 | — | 192 | ||||||||||||||||||||
Total | $ | 360 | $ | 10 | $ | — | $ | 370 | ||||||||||||||||
30-Jun-14 | ||||||||||||||||||||||||
Mortgage-backed (residential): | ||||||||||||||||||||||||
Fannie Mae | $ | 100 | $ | 3 | $ | — | $ | 103 | ||||||||||||||||
Freddie Mac | 58 | 2 | — | 60 | ||||||||||||||||||||
Ginnie Mae | 30 | 1 | — | 31 | ||||||||||||||||||||
Collateralized mortgage obligations (residential): | ||||||||||||||||||||||||
Fannie Mae | 207 | 5 | — | 212 | ||||||||||||||||||||
Total | $ | 395 | $ | 11 | $ | — | $ | 406 | ||||||||||||||||
Securities with Continuous Unrealized Losses Position Aggregated by Investment Category and Length of Time | Securities with unrealized losses at December 31, 2014 and June 30, 2014, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, are as follows: | |||||||||||||||||||||||
Less than 12 months | 12 months or more | Total | ||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||||||
Value | Loss | Value | Loss | Value | Loss | |||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||
31-Dec-14 | ||||||||||||||||||||||||
Description of Securities | ||||||||||||||||||||||||
Mortgage-backed securities | $ | 8,570 | $ | (11 | ) | $ | 15,362 | $ | (275 | ) | $ | 23,932 | $ | (286 | ) | |||||||||
Collateralized mortgage obligations (residential) | 682 | (5 | ) | 712 | (7 | ) | 1,394 | (12 | ) | |||||||||||||||
Total temporarily impaired | $ | 9,252 | $ | (16 | ) | $ | 16,074 | $ | (282 | ) | $ | 25,326 | $ | (298 | ) | |||||||||
30-Jun-14 | ||||||||||||||||||||||||
Description of Securities | ||||||||||||||||||||||||
Mortgage-backed securities | $ | — | $ | — | $ | 16,404 | $ | (376 | ) | $ | 16,404 | $ | (376 | ) | ||||||||||
Collateralized mortgage obligations (residential) | 12,636 | (14 | ) | 1,598 | (9 | ) | 14,234 | (23 | ) | |||||||||||||||
Total temporarily impaired | $ | 12,636 | $ | (14 | ) | $ | 18,002 | $ | (385 | ) | $ | 30,638 | $ | (399 | ) | |||||||||
Loans_Tables
Loans - (Tables) | 6 Months Ended | |||||||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||||||
Receivables [Abstract] | ||||||||||||||||||||||||||||
Composition of Loans | The composition of loans consists of the following: | |||||||||||||||||||||||||||
December 31, | June 30, | |||||||||||||||||||||||||||
2014 | 2014 | |||||||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||||||
Real Estate: | ||||||||||||||||||||||||||||
One-to-four family residential | $ | 278,501 | $ | 288,960 | ||||||||||||||||||||||||
Multi-family residential | 313,270 | 335,040 | ||||||||||||||||||||||||||
Commercial real estate | 31,477 | 38,062 | ||||||||||||||||||||||||||
623,248 | 662,062 | |||||||||||||||||||||||||||
Consumer: | ||||||||||||||||||||||||||||
Automobile | 48,351 | 45,686 | ||||||||||||||||||||||||||
Home equity | 607 | 625 | ||||||||||||||||||||||||||
Other consumer loans, primarily unsecured | 12,323 | 11,481 | ||||||||||||||||||||||||||
61,281 | 57,792 | |||||||||||||||||||||||||||
Total loans | 684,529 | 719,854 | ||||||||||||||||||||||||||
Deferred net loan origination costs | 44 | 213 | ||||||||||||||||||||||||||
Net premium on purchased loans | 220 | 263 | ||||||||||||||||||||||||||
Allowance for loan losses | (3,914 | ) | (4,580 | ) | ||||||||||||||||||||||||
Loans receivable, net | $ | 680,879 | $ | 715,750 | ||||||||||||||||||||||||
Analysis of Changes in Allowance for Loan Losses | The following is an analysis of the changes in the allowance for loan losses: | |||||||||||||||||||||||||||
Allowance for loan losses for the | ||||||||||||||||||||||||||||
Three months ended December 31, 2014 | ||||||||||||||||||||||||||||
One-to-four | Multi-family | Commercial | Automobile | Home | Other | Total | ||||||||||||||||||||||
family | residential | real estate | equity | |||||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||||||
Balance, beginning of period | $ | 2,151 | $ | 722 | $ | 1,103 | $ | 253 | $ | 2 | $ | 99 | $ | 4,330 | ||||||||||||||
Provision for loan losses | (217 | ) | (145 | ) | (153 | ) | 50 | — | 65 | (400 | ) | |||||||||||||||||
Recoveries | — | — | — | 15 | — | 5 | 20 | |||||||||||||||||||||
Loans charged-off | — | — | — | (21 | ) | — | (15 | ) | (36 | ) | ||||||||||||||||||
Balance, end of period | $ | 1,934 | $ | 577 | $ | 950 | $ | 297 | $ | 2 | $ | 154 | $ | 3,914 | ||||||||||||||
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 | |||||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||
Six Months Ended December 31, 2014 | ||||||||||||||||||||||||||||
One-to-four | Multi-family | Commercial | Automobile | Home | Other | Total | ||||||||||||||||||||||
family | residential | real estate | equity | |||||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||||||
Balance, beginning of period | $ | 2,300 | $ | 993 | $ | 1,051 | $ | 136 | $ | 2 | $ | 98 | $ | 4,580 | ||||||||||||||
Provision for loan losses | (366 | ) | (416 | ) | (354 | ) | 282 | — | 104 | (750 | ) | |||||||||||||||||
Recoveries | — | — | 253 | 17 | — | 8 | 278 | |||||||||||||||||||||
Loans charged-off | — | — | — | (138 | ) | — | (56 | ) | (194 | ) | ||||||||||||||||||
Balance, end of period | $ | 1,934 | $ | 577 | $ | 950 | $ | 297 | $ | 2 | $ | 154 | $ | 3,914 | ||||||||||||||
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 | |||||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||||||
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 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, 2014 and June 30, 2014: | |||||||||||||||||||||||||||
31-Dec-14 | One-to-four | Multi-family | Commercial | Automobile | Home | Other | Total | |||||||||||||||||||||
family | residential | real estate | equity | |||||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||||||
Allowance for loan losses: | ||||||||||||||||||||||||||||
Ending allowance balance attributed to loans: | ||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 673 | $ | — | $ | 40 | $ | — | $ | — | $ | 6 | $ | 719 | ||||||||||||||
Collectively evaluated for impairment | 1,261 | 577 | 910 | 297 | 2 | 148 | 3,195 | |||||||||||||||||||||
Total ending allowance balance | $ | 1,934 | $ | 577 | $ | 950 | $ | 297 | $ | 2 | $ | 154 | $ | 3,914 | ||||||||||||||
One-to-four | Multi-family | Commercial | Automobile | Home | Other | Total | ||||||||||||||||||||||
family | residential | real estate | equity | |||||||||||||||||||||||||
Loans: | ||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 11,693 | $ | 1,214 | $ | 2,501 | $ | — | $ | — | $ | 6 | $ | 15,414 | ||||||||||||||
Collectively evaluated for impairment | 266,808 | 312,056 | 28,976 | 48,351 | 607 | 12,317 | 669,115 | |||||||||||||||||||||
Total ending loan balance | $ | 278,501 | $ | 313,270 | $ | 31,477 | $ | 48,351 | $ | 607 | $ | 12,323 | $ | 684,529 | ||||||||||||||
30-Jun-14 | One-to-four | Multi-family | Commercial | Automobile | Home | Other | Total | |||||||||||||||||||||
family | residential | real estate | equity | |||||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||||||
Allowance for loan losses: | ||||||||||||||||||||||||||||
Ending allowance balance attributed to loans: | ||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 910 | $ | — | $ | 52 | $ | 2 | $ | — | $ | 15 | $ | 979 | ||||||||||||||
Collectively evaluated for impairment | 1,390 | 993 | 999 | 134 | 2 | 83 | 3,601 | |||||||||||||||||||||
Total ending allowance balance | $ | 2,300 | $ | 993 | $ | 1,051 | $ | 136 | $ | 2 | $ | 98 | $ | 4,580 | ||||||||||||||
One-to-four | Multi-family | Commercial | Automobile | Home | Other | Total | ||||||||||||||||||||||
family | residential | real estate | equity | |||||||||||||||||||||||||
Loans: | ||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 12,431 | $ | 1,263 | $ | 3,506 | $ | 2 | $ | — | $ | 15 | $ | 17,217 | ||||||||||||||
Collectively evaluated for impairment | 276,529 | 333,777 | 34,556 | 45,684 | 625 | 11,466 | 702,637 | |||||||||||||||||||||
Total ending loan balance | $ | 288,960 | $ | 335,040 | $ | 38,062 | $ | 45,686 | $ | 625 | $ | 11,481 | $ | 719,854 | ||||||||||||||
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, 2014 and June 30, 2014: | |||||||||||||||||||||||||||
31-Dec-14 | Unpaid Principal | Recorded | Allowance for Loan | |||||||||||||||||||||||||
Balance | Investment | Losses Allocated | ||||||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||||||
With no related allowance recorded: | ||||||||||||||||||||||||||||
Real estate loans: | ||||||||||||||||||||||||||||
One-to-four family | $ | 6,980 | $ | 5,910 | $ | — | ||||||||||||||||||||||
Multi-family residential | 1,638 | 1,214 | — | |||||||||||||||||||||||||
Commercial real estate | 1,876 | 1,344 | — | |||||||||||||||||||||||||
10,494 | 8,468 | — | ||||||||||||||||||||||||||
With an allowance recorded: | ||||||||||||||||||||||||||||
Real estate loans: | ||||||||||||||||||||||||||||
One-to-four family | 6,054 | 5,783 | 673 | |||||||||||||||||||||||||
Commercial real estate | 1,157 | 1,157 | 40 | |||||||||||||||||||||||||
Other loans: | ||||||||||||||||||||||||||||
Other | 6 | 6 | 6 | |||||||||||||||||||||||||
7,217 | 6,946 | 719 | ||||||||||||||||||||||||||
Total | $ | 17,711 | $ | 15,414 | $ | 719 | ||||||||||||||||||||||
30-Jun-14 | Unpaid Principal | Recorded | Allowance for Loan | |||||||||||||||||||||||||
Balance | Investment | Losses Allocated | ||||||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||||||
With no related allowance recorded: | ||||||||||||||||||||||||||||
Real estate loans: | ||||||||||||||||||||||||||||
One-to-four family | $ | 6,175 | $ | 5,035 | $ | — | ||||||||||||||||||||||
Multi-family residential | 1,656 | 1,263 | — | |||||||||||||||||||||||||
Commercial real estate | 3,084 | 2,336 | — | |||||||||||||||||||||||||
10,915 | 8,634 | — | ||||||||||||||||||||||||||
With an allowance recorded: | ||||||||||||||||||||||||||||
Real estate loans: | ||||||||||||||||||||||||||||
One-to-four family | 7,705 | 7,396 | 910 | |||||||||||||||||||||||||
Commercial real estate | 1,170 | 1,170 | 52 | |||||||||||||||||||||||||
Other loans: | ||||||||||||||||||||||||||||
Automobile | 2 | 2 | 2 | |||||||||||||||||||||||||
Other | 15 | 15 | 15 | |||||||||||||||||||||||||
8,892 | 8,583 | 979 | ||||||||||||||||||||||||||
Total | $ | 19,807 | $ | 17,217 | $ | 979 | ||||||||||||||||||||||
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, 2014 and 2013: | |||||||||||||||||||||||||||
Three months ended | Six months ended | |||||||||||||||||||||||||||
December 31, | December 31, | |||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||||||
Real estate loan: | ||||||||||||||||||||||||||||
One-to-four family | $ | 11,636 | $ | 13,561 | $ | 11,901 | $ | 13,971 | ||||||||||||||||||||
Multi-family residential | 1,227 | 1,921 | 1,239 | 1,796 | ||||||||||||||||||||||||
Commercial real estate | 2,527 | 5,744 | 2,854 | 5,875 | ||||||||||||||||||||||||
Total | $ | 15,390 | $ | 21,226 | $ | 15,994 | $ | 21,642 | ||||||||||||||||||||
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: | |||||||||||||||||||||||||||
Three months ended | Six months ended | |||||||||||||||||||||||||||
December 31, | December 31, | |||||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||||||
Real estate loan: | ||||||||||||||||||||||||||||
One-to-four family | $ | 69 | $ | 102 | $ | 151 | $ | 195 | ||||||||||||||||||||
Multi-family residential | 16 | 28 | 32 | 58 | ||||||||||||||||||||||||
Commercial real estate | 31 | 25 | 78 | 53 | ||||||||||||||||||||||||
Total | $ | 116 | $ | 155 | $ | 261 | $ | 306 | ||||||||||||||||||||
Nonaccrual Loans by Class of Loans | The following table presents non-accrual loans by class of loans: | |||||||||||||||||||||||||||
Non-accrual loans: | 31-Dec-14 | 30-Jun-14 | ||||||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||||||
Real estate loans: | ||||||||||||||||||||||||||||
One-to-four family | $ | 5,711 | $ | 5,390 | ||||||||||||||||||||||||
Multi-family residential | 738 | 781 | ||||||||||||||||||||||||||
Commercial | 1,344 | 1,460 | ||||||||||||||||||||||||||
Other loans: | ||||||||||||||||||||||||||||
Automobile | — | 2 | ||||||||||||||||||||||||||
Other | 6 | 15 | ||||||||||||||||||||||||||
Total non-accrual loans | $ | 7,799 | $ | 7,648 | ||||||||||||||||||||||||
Aging of Past Due Loans | The following tables present the aging of past due loans by class of loans: | |||||||||||||||||||||||||||
31-Dec-14 | 30-59 Days | 60-89 Days | 90 Days or | Total | Total | Total Loans | ||||||||||||||||||||||
Delinquent | Delinquent | More | Delinquent | Current | ||||||||||||||||||||||||
Delinquent | Loans | Loans | ||||||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||||||
Real estate loans: | ||||||||||||||||||||||||||||
One-to-four family | $ | 1,374 | $ | 160 | $ | 967 | $ | 2,501 | $ | 276,000 | $ | 278,501 | ||||||||||||||||
Multi-family | — | — | — | — | 313,270 | 313,270 | ||||||||||||||||||||||
Commercial | — | — | — | — | 31,477 | 31,477 | ||||||||||||||||||||||
Other loans: | ||||||||||||||||||||||||||||
Automobile | 261 | 49 | — | 310 | 48,041 | 48,351 | ||||||||||||||||||||||
Home Equity | — | — | — | — | 607 | 607 | ||||||||||||||||||||||
Other | 58 | 20 | 2 | 80 | 12,243 | 12,323 | ||||||||||||||||||||||
Total loans | $ | 1,693 | $ | 229 | $ | 969 | $ | 2,891 | $ | 681,638 | $ | 684,529 | ||||||||||||||||
30-Jun-14 | 30-59 Days | 60-89 Days | 90 Days or | Total | Total | Total Loans | ||||||||||||||||||||||
Delinquent | Delinquent | More | Delinquent | Current | ||||||||||||||||||||||||
Delinquent | Loans | Loans | ||||||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||||||
Real estate loans: | ||||||||||||||||||||||||||||
One-to-four family | $ | 2,123 | $ | 409 | $ | 301 | $ | 2,833 | $ | 286,127 | $ | 288,960 | ||||||||||||||||
Multi-family | — | — | — | — | 335,040 | 335,040 | ||||||||||||||||||||||
Commercial | 1,061 | — | 399 | 1,460 | 36,602 | 38,062 | ||||||||||||||||||||||
Other loans: | ||||||||||||||||||||||||||||
Automobile | 113 | 15 | 2 | 130 | 45,556 | 45,686 | ||||||||||||||||||||||
Home Equity | — | — | — | — | 625 | 625 | ||||||||||||||||||||||
Other | 31 | 4 | 15 | 50 | 11,431 | 11,481 | ||||||||||||||||||||||
Total loans | $ | 3,328 | $ | 428 | $ | 717 | $ | 4,473 | $ | 715,381 | $ | 719,854 | ||||||||||||||||
Risk Category of Loans by Class of Loans | As of December 31, 2014 and June 30, 2014, and based on the most recent analysis performed, the risk category of loans by class of loans is as follows: | |||||||||||||||||||||||||||
31-Dec-14 | Pass | Special Mention | Substandard | Doubtful | Loss | |||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||||||
Real estate loans: | ||||||||||||||||||||||||||||
One-to-four family | $ | 263,379 | $ | 8,477 | $ | 6,645 | $ | — | $ | — | ||||||||||||||||||
Multi-family | 309,791 | 2,300 | 1,179 | — | — | |||||||||||||||||||||||
Commercial | 19,272 | 2,959 | 9,246 | — | — | |||||||||||||||||||||||
Other loans: | ||||||||||||||||||||||||||||
Automobile | 47,909 | 235 | 162 | 45 | — | |||||||||||||||||||||||
Home equity | 607 | — | — | — | — | |||||||||||||||||||||||
Other | 12,240 | 18 | 12 | 47 | 6 | |||||||||||||||||||||||
Total loans | $ | 653,198 | $ | 13,989 | $ | 17,244 | $ | 92 | $ | 6 | ||||||||||||||||||
30-Jun-14 | Pass | Special Mention | Substandard | Doubtful | Loss | |||||||||||||||||||||||
(Dollars in thousands) | ||||||||||||||||||||||||||||
Real estate loans: | ||||||||||||||||||||||||||||
One-to-four family | $ | 272,261 | $ | 10,257 | $ | 6,442 | $ | — | $ | — | ||||||||||||||||||
Multi-family | 327,999 | 3,174 | 3,867 | — | — | |||||||||||||||||||||||
Commercial | 24,708 | 7,556 | 5,798 | — | — | |||||||||||||||||||||||
Other loans: | ||||||||||||||||||||||||||||
Automobile | 45,542 | 87 | 55 | — | 2 | |||||||||||||||||||||||
Home equity | 625 | — | — | — | — | |||||||||||||||||||||||
Other | 11,455 | 8 | 2 | 1 | 15 | |||||||||||||||||||||||
Total loans | $ | 682,590 | $ | 21,082 | $ | 16,164 | $ | 1 | $ | 17 | ||||||||||||||||||
Real_Estate_Owned_Tables
Real Estate Owned - (Tables) | 6 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Banking and Thrift [Abstract] | ||||||||
Changes in Real Estate Owned | Changes in real estate owned are summarized as follows: | |||||||
Six months ended | ||||||||
31-Dec-14 | 31-Dec-13 | |||||||
(Dollars in thousands) | ||||||||
Beginning of period | $ | 284 | $ | — | ||||
Transfers in | 306 | 539 | ||||||
Capitalized expenditures | — | 70 | ||||||
Sales | (590 | ) | (325 | ) | ||||
End of period | $ | — | $ | 284 | ||||
Net Income (Expenses) Related to Foreclosed Assets Included in Other Operating Expense | Net income (expenses) related to foreclosed assets are as follows and are included in net operating expense: | |||||||
Six months ended | ||||||||
December 31, | December 31, | |||||||
2014 | 2013 | |||||||
(Dollars in thousands) | ||||||||
Net gain on sales | $ | 181 | $ | 4 | ||||
Net operating expense | (13 | ) | (19 | ) | ||||
Total | $ | 168 | $ | (15 | ) | |||
Federal_Home_Loan_Bank_Advance1
Federal Home Loan Bank Advances - (Tables) | 6 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
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: | |||||||
December 31, | June 30, | |||||||
2014 | 2014 | |||||||
Fiscal Year of Maturity | (Dollars in thousands) | |||||||
2015 | $ | — | $ | 20,000 | ||||
2016 | — | — | ||||||
2017 | 25,000 | 25,000 | ||||||
2018 | 10,000 | 10,000 | ||||||
2019 | 30,000 | 30,000 | ||||||
Total | $ | 65,000 | $ | 85,000 | ||||
Change_in_Accumulated_Other_Co1
Change in Accumulated Other Comprehensive Loss - (Tables) | 6 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
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, fro the three and six months ended December 31, 2014 and 2013. | ||||||||||||
Three Months Ended December 31, 2014 | |||||||||||||
Unrealized gains | Postretirement | Total | |||||||||||
and losses on | medical benefits | ||||||||||||
securities | costs items | ||||||||||||
available-for-sale | |||||||||||||
(Dollars in thousands) | |||||||||||||
Balance at beginning of period | $ | (172 | ) | $ | (85 | ) | $ | (257 | ) | ||||
Other comprehensive income (loss) before reclassifications | 202 | (8 | ) | 194 | |||||||||
Amounts reclassified from accumulated other | — | 8 | 8 | ||||||||||
comprehensive income | |||||||||||||
Tax effect of current period changes | (83 | ) | — | (83 | ) | ||||||||
Net current period other comprehensive income | 119 | — | 119 | ||||||||||
Balance at end of period | $ | (53 | ) | $ | (85 | ) | $ | (138 | ) | ||||
Three Months Ended December 31, 2013 | |||||||||||||
Unrealized gains | Postretirement | Total | |||||||||||
and losses on | medical benefits | ||||||||||||
securities | costs items | ||||||||||||
available-for-sale | |||||||||||||
(Dollars in thousands) | |||||||||||||
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, 2014 | |||||||||||||
Unrealized gains | Postretirement | Total | |||||||||||
and losses on | medical benefits | ||||||||||||
securities | costs items | ||||||||||||
available-for-sale | |||||||||||||
(Dollars in thousands) | |||||||||||||
Balance at beginning of period | $ | (139 | ) | $ | (85 | ) | $ | (224 | ) | ||||
Other comprehensive income (loss) before reclassifications | 147 | (21 | ) | 126 | |||||||||
Amounts reclassified from accumulated other | — | 21 | 21 | ||||||||||
comprehensive income | |||||||||||||
Tax effect of current period changes | (61 | ) | — | (61 | ) | ||||||||
Net current period other comprehensive income | 86 | — | 86 | ||||||||||
Balance at end of period | $ | (53 | ) | $ | (85 | ) | $ | (138 | ) | ||||
Six Months Ended December 31, 2013 | |||||||||||||
Unrealized gains | Postretirement | Total | |||||||||||
and losses on | medical benefits | ||||||||||||
securities | costs items | ||||||||||||
available-for-sale | |||||||||||||
(Dollars in thousands) | |||||||||||||
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 | ) |
Nature_of_Business_and_Signifi2
Nature of Business and Significant Accounting Policies Nature of Business and Significant Accounting Policies - Additional Information (Details) (HomeStreet Inc, USD $) | Sep. 27, 2014 |
Business Acquisition [Line Items] | |
Stock agreement percentage | 100.00% |
Minimum | |
Business Acquisition [Line Items] | |
Share price (more than $20.0 or less than $15.0) | 20 |
Maximum | |
Business Acquisition [Line Items] | |
Share price (more than $20.0 or less than $15.0) | 15 |
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, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 |
Basic | ||||
Net income | $940 | $1,340 | $2,017 | $2,489 |
Less: Net income allocated to restricted stock awards | 11 | 11 | 21 | 21 |
Net income allocated to common shareholders | 929 | 1,329 | 1,996 | 2,468 |
Weighted average common shares outstanding | 6,975,798 | 7,410,160 | 6,970,620 | 7,518,064 |
Basic (in usd per share) | $0.13 | $0.18 | $0.29 | $0.33 |
Diluted | ||||
Net income | 940 | 1,340 | 2,017 | 2,489 |
Less: Net income allocated to restricted stock awards | 11 | 11 | 21 | 21 |
Net income allocated to common shareholders | $929 | $1,329 | $1,996 | $2,468 |
Weighted average common shares outstanding | 6,975,798 | 7,410,160 | 6,970,620 | 7,518,064 |
Add: Dilutive effect of stock options | 25,753 | 22,642 | 25,810 | 21,082 |
Average shares and dilutive potential common shares | 7,001,551 | 7,432,802 | 6,996,430 | 7,539,146 |
Diluted (in usd per share) | $0.13 | $0.18 | $0.29 | $0.33 |
Earnings_Per_Share_Additional_
Earnings Per Share - Additional Information (Detail) | 3 Months Ended | 6 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | |
Earnings Per Share Basic And Diluted [Line Items] | ||||
Number of allocated shares | 10,355 | 20,710 | ||
Number of shares remained unearned | 321,011 | 362,432 | 321,011 | 362,432 |
Stock Option | ||||
Earnings Per Share Basic And Diluted [Line Items] | ||||
Anti-dilutive securities, outstanding stock options | 59,205 | 87,691 | 70,823 | 87,691 |
Fair_Value_Measurements_Additi
Fair Value Measurements - Additional Information (Detail) (USD $) | 3 Months Ended | 6 Months Ended | |||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | |
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||||
Transferred amount of financial and nonfinancial instruments | $0 | $0 | $0 | $0 | |
Impairment of MSAs | 16,000 | 16,000 | 10,000 | ||
Provisions for MSAs | 6,000 | ||||
Fair Value, Measurements, Nonrecurring | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||||
Nonfinancial assets measured at fair value | $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, 2014 | Jun. 30, 2014 |
In Thousands, unless otherwise specified | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | ||
Assets measured at fair value | $51,579 | $56,883 |
Mortgage-backed securities (residential) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | ||
Assets measured at fair value | 32,513 | 35,216 |
Collateralized mortgage obligations (residential) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | ||
Assets measured at fair value | 19,066 | 21,667 |
Significant Other Observable Inputs (Level 2) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | ||
Assets measured at fair value | 51,579 | 56,883 |
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 | 32,513 | 35,216 |
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 | $19,066 | $21,667 |
Fair_Value_Measurements_Financ
Fair Value Measurements - Financial Assets Measured at Fair Value on Non-Recurring Basis (Detail) (Significant Unobservable Inputs (Level 3), Mortgage Servicing Assets, USD $) | Dec. 31, 2014 | Jun. 30, 2014 |
In Thousands, unless otherwise specified | ||
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 | $81 | $75 |
MSAs | $81 | $75 |
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), Mortgage Servicing Assets, USD $) | 6 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Jun. 30, 2014 |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Assets measured at fair value on a non-recurring basis | $81 | $75 |
Valuation Techniques | Discounted Cash Flow | Discounted Cash Flow |
Unobservable Inputs | Discount Rate | Discount Rate |
Range (Weighted Average) | 8.50% | 8.50% |
Conditional Prepayment Rate | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Range (Weighted Average) | 10.85% | 8.38% |
Conditional Prepayment Rate | Minimum | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Range (Weighted Average) | 6.95% | 5.90% |
Conditional Prepayment Rate | Maximum | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Range (Weighted Average) | 17.18% | 14.52% |
Fair_Value_Measurements_Carryi
Fair Value Measurements - Carrying Amounts and Estimated Fair Values of Financial Instruments (Detail) (USD $) | Dec. 31, 2014 | Jun. 30, 2014 |
In Thousands, unless otherwise specified | ||
Financial assets: | ||
Cash and due from banks | $11,836 | $7,988 |
Securities held-to-maturity | 370 | 406 |
Carrying Amount | ||
Financial assets: | ||
Cash and due from banks | 11,836 | 7,988 |
Federal funds sold | 82,835 | 61,265 |
Securities held-to-maturity | 360 | 395 |
Federal Home Loan Bank Stock | 5,519 | 5,519 |
Loans held for sale | 2,039 | 3,687 |
Loans receivable, net | 680,879 | 715,750 |
MSAs | 870 | 696 |
Financial liabilities: | ||
Deposits | 656,254 | 652,823 |
FHLB Advances | 65,000 | 85,000 |
Carrying Amount | Loans | ||
Financial assets: | ||
Accrued interest receivable - investments | 1,970 | 2,159 |
Carrying Amount | Investments | ||
Financial assets: | ||
Accrued interest receivable - investments | 84 | 93 |
Fair Value | ||
Financial assets: | ||
Cash and due from banks | 11,836 | 7,988 |
Federal funds sold | 82,835 | 61,265 |
Securities held-to-maturity | 370 | 406 |
Loans held for sale | 2,127 | 3,840 |
Loans receivable, net | 704,777 | 738,391 |
Servicing Asset at Fair Value, Amount | 1,023 | 982 |
Financial liabilities: | ||
Deposits | 658,236 | 656,273 |
FHLB Advances | 65,839 | 86,066 |
Fair Value | Loans | ||
Financial assets: | ||
Accrued interest receivable - investments | 1,970 | 2,159 |
Fair Value | Investments | ||
Financial assets: | ||
Accrued interest receivable - investments | 84 | 93 |
Quoted Prices in Active Markets for Identical Assets (Level 1) | ||
Financial assets: | ||
Cash and due from banks | 11,836 | 7,988 |
Significant Other Observable Inputs (Level 2) | ||
Financial assets: | ||
Federal funds sold | 82,835 | 61,265 |
Securities held-to-maturity | 370 | 406 |
Loans held for sale | 2,127 | 3,840 |
Financial liabilities: | ||
Deposits | 658,236 | 656,273 |
FHLB Advances | 65,839 | 86,066 |
Significant Other Observable Inputs (Level 2) | Investments | ||
Financial assets: | ||
Accrued interest receivable - investments | 84 | 93 |
Significant Unobservable Inputs (Level 3) | ||
Financial assets: | ||
Loans receivable, net | 704,777 | 738,391 |
Servicing Asset at Fair Value, Amount | 1,023 | 982 |
Significant Unobservable Inputs (Level 3) | Loans | ||
Financial assets: | ||
Accrued interest receivable - investments | $1,970 | $2,159 |
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, 2014 | Jun. 30, 2014 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities | ||
Fair Value | $51,579 | $56,883 |
Gross Unrealized Gains | 227 | 181 |
Gross Unrealized Losses | -298 | -399 |
Amortized Cost | 51,650 | 57,101 |
Mortgage-backed (residential) | Fannie Mae | ||
Schedule of Available-for-sale Securities | ||
Fair Value | 6,193 | 6,933 |
Gross Unrealized Gains | 91 | 109 |
Gross Unrealized Losses | 0 | 0 |
Amortized Cost | 6,102 | 6,824 |
Mortgage-backed (residential) | Freddie Mac | ||
Schedule of Available-for-sale Securities | ||
Fair Value | 22,564 | 24,136 |
Gross Unrealized Gains | 57 | 43 |
Gross Unrealized Losses | -275 | -376 |
Amortized Cost | 22,782 | 24,469 |
Mortgage-backed (residential) | Ginnie Mae | ||
Schedule of Available-for-sale Securities | ||
Fair Value | 3,756 | 4,147 |
Gross Unrealized Gains | 0 | 1 |
Gross Unrealized Losses | -11 | 0 |
Amortized Cost | 3,767 | 4,146 |
Collateralized mortgage obligations (residential) | Fannie Mae | ||
Schedule of Available-for-sale Securities | ||
Fair Value | 7,074 | 8,640 |
Gross Unrealized Gains | 28 | 19 |
Gross Unrealized Losses | -12 | -11 |
Amortized Cost | 7,058 | 8,632 |
Collateralized mortgage obligations (residential) | Freddie Mac | ||
Schedule of Available-for-sale Securities | ||
Fair Value | 11,992 | 13,027 |
Gross Unrealized Gains | 51 | 9 |
Gross Unrealized Losses | 0 | -12 |
Amortized Cost | $11,941 | $13,030 |
Investments_Carrying_Amount_Un
Investments - Carrying Amount Unrecognized Gains and Losses and Fair Value of Securities Held To Maturity (Detail) (USD $) | Dec. 31, 2014 | Jun. 30, 2014 |
In Thousands, unless otherwise specified | ||
Schedule of Held-to-maturity Securities | ||
Carrying Amount | $360 | $395 |
Gross Unrecognized Gains | 10 | 11 |
Gross Unrecognized Losses | 0 | 0 |
Securities held-to-maturity | 370 | 406 |
Mortgage-backed (residential) | Fannie Mae | ||
Schedule of Held-to-maturity Securities | ||
Carrying Amount | 94 | 100 |
Gross Unrecognized Gains | 2 | 3 |
Gross Unrecognized Losses | 0 | 0 |
Securities held-to-maturity | 96 | 103 |
Mortgage-backed (residential) | Freddie Mac | ||
Schedule of Held-to-maturity Securities | ||
Carrying Amount | 52 | 58 |
Gross Unrecognized Gains | 2 | 2 |
Gross Unrecognized Losses | 0 | 0 |
Securities held-to-maturity | 54 | 60 |
Mortgage-backed (residential) | Ginnie Mae | ||
Schedule of Held-to-maturity Securities | ||
Carrying Amount | 27 | 30 |
Gross Unrecognized Gains | 1 | 1 |
Gross Unrecognized Losses | 0 | 0 |
Securities held-to-maturity | 28 | 31 |
Collateralized mortgage obligations (residential) | Fannie Mae | ||
Schedule of Held-to-maturity Securities | ||
Carrying Amount | 187 | 207 |
Gross Unrecognized Gains | 5 | 5 |
Gross Unrecognized Losses | 0 | 0 |
Securities held-to-maturity | $192 | $212 |
Investments_Additional_Informa
Investments - Additional Information (Detail) (USD $) | 3 Months Ended | 6 Months Ended | |||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | |
security | security | security | |||
Investments, Debt and Equity Securities [Abstract] | |||||
Sales of securities | $0 | $0 | $0 | $0 | |
Number of debt securities in unrealized loss position | 8 | 8 | 10 | ||
Debt security unrealized loss percentage of the Company's amortized cost basis | 1.40% | 1.40% | 1.30% | ||
Number of Securities Holdings of Any One Issuer other than US Government Greater than Ten Percent of Shareholder's Equity | 0 | 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, 2014 | Jun. 30, 2014 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities | ||
Less than 12 months Fair Value | $9,252 | $12,636 |
Available-for-Sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Amount | -16 | -14 |
12 months or more Fair Value | 16,074 | 18,002 |
Available-for Sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Amount | -282 | -385 |
Total Fair Value | 25,326 | 30,638 |
Available-for-Sale Securities, Continuous Unrealized Loss Position, Aggregate Amount | -298 | -399 |
Mortgage-backed securities (residential) | ||
Schedule of Available-for-sale Securities | ||
Less than 12 months Fair Value | 8,570 | 0 |
Available-for-Sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Amount | -11 | 0 |
12 months or more Fair Value | 15,362 | 16,404 |
Available-for Sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Amount | -275 | -376 |
Total Fair Value | 23,932 | 16,404 |
Available-for-Sale Securities, Continuous Unrealized Loss Position, Aggregate Amount | -286 | -376 |
Collateralized mortgage obligations (residential) | ||
Schedule of Available-for-sale Securities | ||
Less than 12 months Fair Value | 682 | 12,636 |
Available-for-Sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Amount | -5 | -14 |
12 months or more Fair Value | 712 | 1,598 |
Available-for Sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Amount | -7 | -9 |
Total Fair Value | 1,394 | 14,234 |
Available-for-Sale Securities, Continuous Unrealized Loss Position, Aggregate Amount | ($12) | ($23) |
Loans_Composition_of_Loans_Det
Loans - Composition of Loans (Detail) (USD $) | Dec. 31, 2014 | Jun. 30, 2014 |
In Thousands, unless otherwise specified | ||
Accounts, Notes, Loans and Financing Receivable | ||
Loans Receivable | $684,529 | $719,854 |
Deferred net loan origination costs | 44 | 213 |
Net premium on purchased loans | 220 | 263 |
Allowance for loan losses | -3,914 | -4,580 |
Loans receivable, net | 680,879 | 715,750 |
Real Estate | ||
Accounts, Notes, Loans and Financing Receivable | ||
Loans Receivable | 623,248 | 662,062 |
Real Estate | One-to-Four Family | ||
Accounts, Notes, Loans and Financing Receivable | ||
Loans Receivable | 278,501 | 288,960 |
Real Estate | Multi-family | ||
Accounts, Notes, Loans and Financing Receivable | ||
Loans Receivable | 313,270 | 335,040 |
Real Estate | Commercial Real Estate Portfolio Segment | ||
Accounts, Notes, Loans and Financing Receivable | ||
Loans Receivable | 31,477 | 38,062 |
Consumer | ||
Accounts, Notes, Loans and Financing Receivable | ||
Loans Receivable | 61,281 | 57,792 |
Consumer | Automobile | ||
Accounts, Notes, Loans and Financing Receivable | ||
Loans Receivable | 48,351 | 45,686 |
Consumer | Home Equity | ||
Accounts, Notes, Loans and Financing Receivable | ||
Loans Receivable | 607 | 625 |
Consumer | Other | ||
Accounts, Notes, Loans and Financing Receivable | ||
Loans Receivable | $12,323 | $11,481 |
Loans_Additional_Information_D
Loans - Additional Information (Detail) (USD $) | 3 Months Ended | 6 Months Ended | |||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | |
Loan | Loan | ||||
Accounts, Notes, Loans and Financing Receivable | |||||
Loans held for sale | $2,039,000 | $2,039,000 | $3,687,000 | ||
Proceeds from sale of loans held for sale | 19,255,000 | 17,027,000 | |||
Net gain on sale of loans held for sale | 112,000 | 145,000 | 311,000 | 330,000 | |
Loans and Leases Receivable, Impaired, Interest Lost on Nonaccrual Loans | 148,000 | 228,000 | 307,000 | 444,000 | |
Interest payment on impaired loans | 116,000 | 155,000 | 261,000 | 306,000 | |
Troubled debt restructurings | 10,200,000 | 10,200,000 | 12,500,000 | ||
Non-accrual Loans | 7,799,000 | 7,799,000 | 7,648,000 | ||
Allowance for loan losses on troubled debt restructurings on nonaccrual status | 61,000 | 61,000 | 79,000 | ||
Number of loans modified | 10 | 16 | |||
Loans modified amount | 3,100,000 | 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 | ||||
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 | 2,600,000 | 2,600,000 | 2,900,000 | ||
Number of troubled debt restructurings returned to accrual status | 1 | 8 | |||
Troubled debt restructurings returned to accrual status, aggregate outstanding balance | 203,000 | 2,800,000 | |||
Modification | |||||
Accounts, Notes, Loans and Financing Receivable | |||||
Number of loans modified | 7 | 17 | |||
Loans modified amount | 2,700,000 | 5,800,000 | |||
One-to-Four Family | Troubled Debt Restructurings | |||||
Accounts, Notes, Loans and Financing Receivable | |||||
Number of loans modified | 0 | 0 | |||
Real Estate Loans | |||||
Accounts, Notes, Loans and Financing Receivable | |||||
Impaired Loans Carrying Amount | 0 | 0 | 0 | ||
Real Estate Loans | Valuation Technique Cash Flow | |||||
Accounts, Notes, Loans and Financing Receivable | |||||
Impaired Loans Carrying Amount | 6,900,000 | 6,900,000 | 8,600,000 | ||
Valuation allowance | 713,000 | 713,000 | 962,000 | ||
Residential Real Estate Portfolio Segment | |||||
Accounts, Notes, Loans and Financing Receivable | |||||
Financing Receivable, Recorded Investment, Nonaccrual Status, Performing in Accordance with Revised Contractual Terms | 1,300,000 | 1,300,000 | |||
Residential Real Estate Portfolio Segment | One-to-Four Family | |||||
Accounts, Notes, Loans and Financing Receivable | |||||
Interest payment on impaired loans | 69,000 | 102,000 | 151,000 | 195,000 | |
Number of Loans on Non-Accrual Status | 9 | 9 | 7 | ||
Financing Receivable, Recorded Investment, Nonaccrual Status, Performing in Accordance with Revised Contractual Terms | 3,200,000 | 3,200,000 | 2,100,000 | ||
Non-accrual Loans | 5,711,000 | 5,711,000 | 5,390,000 | ||
Residential Real Estate Portfolio Segment | Multi-family | |||||
Accounts, Notes, Loans and Financing Receivable | |||||
Interest payment on impaired loans | 16,000 | 28,000 | 32,000 | 58,000 | |
Number of Loans on Non-Accrual Status | 2 | 2 | 2 | ||
Financing Receivable, Recorded Investment, Nonaccrual Status, Performing in Accordance with Revised Contractual Terms | 737,000 | 737,000 | 781,000 | ||
Non-accrual Loans | 738,000 | 738,000 | 781,000 | ||
Commercial Real Estate Portfolio Segment | |||||
Accounts, Notes, Loans and Financing Receivable | |||||
Interest payment on impaired loans | 31,000 | 25,000 | 78,000 | 53,000 | |
Number of Loans on Non-Accrual Status | 2 | 2 | |||
Non-accrual Loans | $1,344,000 | $1,344,000 | $1,460,000 |
Loans_Analysis_of_Changes_in_A
Loans - Analysis of Changes in Allowance for Loan Losses (Detail) (USD $) | 6 Months Ended | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2013 | Jun. 30, 2014 |
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||
Balance, beginning of period | $4,580 | ||||
Recoveries | 0 | ||||
Loans charged-off | 0 | ||||
Balance, end of period | 3,914 | 3,914 | |||
Consumer | Automobile | |||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||
Balance, beginning of period | 136 | ||||
Balance, end of period | 297 | 297 | 136 | ||
Consumer | Home Equity | |||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||
Balance, beginning of period | 2 | ||||
Balance, end of period | 2 | 2 | 2 | ||
Consumer | Other | |||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||
Balance, beginning of period | 98 | ||||
Balance, end of period | 154 | 154 | 98 | ||
Period 1 | |||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||
Balance, beginning of period | 4,580 | 4,330 | 5,487 | 5,643 | |
Provision for loan losses | -750 | -400 | -300 | -300 | |
Recoveries | 278 | 20 | 28 | 42 | |
Loans charged-off | -194 | -36 | -176 | -346 | |
Balance, end of period | 3,914 | 3,914 | 5,039 | 5,039 | |
Period 1 | Residential Real Estate Portfolio Segment | One-to-Four Family | |||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||
Balance, beginning of period | 2,300 | 2,151 | 2,628 | 3,009 | |
Provision for loan losses | -366 | -217 | -247 | -599 | |
Recoveries | 0 | 0 | 6 | 10 | |
Loans charged-off | 0 | 0 | 0 | -33 | |
Balance, end of period | 1,934 | 1,934 | 2,387 | 2,387 | |
Period 1 | Residential Real Estate Portfolio Segment | Multi-family | |||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||
Balance, beginning of period | 993 | 722 | 1,287 | 839 | |
Provision for loan losses | -416 | -145 | -94 | 454 | |
Loans charged-off | 0 | 0 | -131 | -231 | |
Balance, end of period | 577 | 577 | 1,062 | 1,062 | |
Period 1 | Commercial Real Estate Portfolio Segment | Commercial Real Estate | |||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||
Balance, beginning of period | 1,051 | 1,103 | 1,408 | 1,654 | |
Provision for loan losses | -354 | -153 | -222 | -469 | |
Recoveries | 253 | 0 | 0 | 1 | |
Loans charged-off | 0 | 0 | 0 | 0 | |
Balance, end of period | 950 | 950 | 1,186 | 1,186 | |
Period 1 | Consumer | Automobile | |||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||
Balance, beginning of period | 136 | 253 | 112 | 83 | |
Provision for loan losses | 282 | 50 | 27 | 74 | |
Recoveries | 17 | 15 | 20 | 28 | |
Loans charged-off | -138 | -21 | -36 | -62 | |
Balance, end of period | 297 | 297 | 123 | 123 | |
Period 1 | Consumer | Home Equity | |||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||
Balance, beginning of period | 2 | 2 | 4 | 4 | |
Provision for loan losses | 0 | 0 | -1 | -1 | |
Recoveries | 0 | 0 | 0 | ||
Loans charged-off | 0 | 0 | 0 | ||
Balance, end of period | 2 | 2 | 3 | 3 | |
Period 1 | Consumer | Other | |||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||||
Balance, beginning of period | 98 | 99 | 48 | 54 | |
Provision for loan losses | 104 | 65 | 237 | 241 | |
Recoveries | 8 | 5 | 2 | 3 | |
Loans charged-off | -56 | -15 | -9 | -20 | |
Balance, end of period | $154 | $154 | $278 | $278 |
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, 2014 | Jun. 30, 2014 |
In Thousands, unless otherwise specified | ||
Accounts, Notes, Loans and Financing Receivable | ||
Individually evaluated for impairment | $719 | $979 |
Collectively evaluated for impairment | 3,195 | 3,601 |
Total ending allowance balance | 3,914 | 4,580 |
Individually evaluated for impairment | 15,414 | 17,217 |
Collectively evaluated for impairment | 669,115 | 702,637 |
Total Loans | 684,529 | 719,854 |
Real Estate | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total Loans | 623,248 | 662,062 |
Real Estate | One-to-Four Family | ||
Accounts, Notes, Loans and Financing Receivable | ||
Individually evaluated for impairment | 673 | 910 |
Collectively evaluated for impairment | 1,261 | 1,390 |
Total ending allowance balance | 1,934 | 2,300 |
Individually evaluated for impairment | 11,693 | 12,431 |
Collectively evaluated for impairment | 266,808 | 276,529 |
Total Loans | 278,501 | 288,960 |
Real Estate | Multi-family | ||
Accounts, Notes, Loans and Financing Receivable | ||
Individually evaluated for impairment | 0 | 0 |
Collectively evaluated for impairment | 577 | 993 |
Total ending allowance balance | 577 | 993 |
Individually evaluated for impairment | 1,214 | 1,263 |
Collectively evaluated for impairment | 312,056 | 333,777 |
Total Loans | 313,270 | 335,040 |
Real Estate | Commercial Real Estate Portfolio Segment | ||
Accounts, Notes, Loans and Financing Receivable | ||
Individually evaluated for impairment | 40 | 52 |
Collectively evaluated for impairment | 910 | 999 |
Total ending allowance balance | 950 | 1,051 |
Individually evaluated for impairment | 2,501 | 3,506 |
Collectively evaluated for impairment | 28,976 | 34,556 |
Total Loans | 31,477 | 38,062 |
Consumer | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total Loans | 61,281 | 57,792 |
Consumer | Automobile | ||
Accounts, Notes, Loans and Financing Receivable | ||
Individually evaluated for impairment | 0 | 2 |
Collectively evaluated for impairment | 297 | 134 |
Total ending allowance balance | 297 | 136 |
Individually evaluated for impairment | 0 | 2 |
Collectively evaluated for impairment | 48,351 | 45,684 |
Total Loans | 48,351 | 45,686 |
Consumer | Home Equity | ||
Accounts, Notes, Loans and Financing Receivable | ||
Collectively evaluated for impairment | 2 | 2 |
Total ending allowance balance | 2 | 2 |
Collectively evaluated for impairment | 607 | 625 |
Total Loans | 607 | 625 |
Consumer | Other | ||
Accounts, Notes, Loans and Financing Receivable | ||
Individually evaluated for impairment | 6 | 15 |
Collectively evaluated for impairment | 148 | 83 |
Total ending allowance balance | 154 | 98 |
Individually evaluated for impairment | 6 | 15 |
Collectively evaluated for impairment | 12,317 | 11,466 |
Total Loans | $12,323 | $11,481 |
Loans_Loans_Individually_Evalu
Loans - Loans Individually Evaluated for Impairment by Class of Loans (Detail) (USD $) | Dec. 31, 2014 | Jun. 30, 2014 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Impaired | ||
Unpaid Principal Balance | $10,494 | $10,915 |
Recorded Investment | 8,468 | 8,634 |
Allowance for Loan Losses Allocated | 0 | 0 |
Unpaid Principal Balance | 7,217 | 8,892 |
Recorded Investment | 6,946 | 8,583 |
Allowance for Loan Losses Allocated | 719 | 979 |
Unpaid Principal Balance | 17,711 | 19,807 |
Recorded Investment | 15,414 | 17,217 |
Allowance for Loan Losses Allocated | 719 | 979 |
Residential Real Estate Portfolio Segment | One-to-Four Family | ||
Financing Receivable, Impaired | ||
Unpaid Principal Balance | 6,980 | 6,175 |
Recorded Investment | 5,910 | 5,035 |
Allowance for Loan Losses Allocated | 0 | 0 |
Unpaid Principal Balance | 6,054 | 7,705 |
Recorded Investment | 5,783 | 7,396 |
Allowance for Loan Losses Allocated | 673 | 910 |
Residential Real Estate Portfolio Segment | Multi-family | ||
Financing Receivable, Impaired | ||
Unpaid Principal Balance | 1,638 | 1,656 |
Recorded Investment | 1,214 | 1,263 |
Allowance for Loan Losses Allocated | 0 | 0 |
Commercial Real Estate Portfolio Segment | ||
Financing Receivable, Impaired | ||
Unpaid Principal Balance | 1,876 | 3,084 |
Recorded Investment | 1,344 | 2,336 |
Allowance for Loan Losses Allocated | 0 | 0 |
Unpaid Principal Balance | 1,157 | 1,170 |
Recorded Investment | 1,157 | 1,170 |
Allowance for Loan Losses Allocated | 40 | 52 |
Consumer | Other | ||
Financing Receivable, Impaired | ||
Unpaid Principal Balance | 6 | 15 |
Recorded Investment | 6 | 15 |
Allowance for Loan Losses Allocated | 6 | 15 |
Allowance for Loan Losses Allocated | 6 | 15 |
Consumer | Automobile | ||
Financing Receivable, Impaired | ||
Unpaid Principal Balance | 2 | |
Recorded Investment | 2 | |
Allowance for Loan Losses Allocated | 2 | |
Allowance for Loan Losses Allocated | $0 | $2 |
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, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 |
Financing Receivable, Impaired | ||||
Monthly average of individually impaired loans | $15,390 | $21,226 | $15,994 | $21,642 |
Residential Real Estate Portfolio Segment | One-to-Four Family | ||||
Financing Receivable, Impaired | ||||
Monthly average of individually impaired loans | 11,636 | 13,561 | 11,901 | 13,971 |
Residential Real Estate Portfolio Segment | Multi-family | ||||
Financing Receivable, Impaired | ||||
Monthly average of individually impaired loans | 1,227 | 1,921 | 1,239 | 1,796 |
Commercial Real Estate Portfolio Segment | ||||
Financing Receivable, Impaired | ||||
Monthly average of individually impaired loans | $2,527 | $5,744 | $2,854 | $5,875 |
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, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 |
Financing Receivable, Impaired | ||||
Interest payment on impaired loans | $116 | $155 | $261 | $306 |
Residential Real Estate Portfolio Segment | One-to-Four Family | ||||
Financing Receivable, Impaired | ||||
Interest payment on impaired loans | 69 | 102 | 151 | 195 |
Residential Real Estate Portfolio Segment | Multi-family | ||||
Financing Receivable, Impaired | ||||
Interest payment on impaired loans | 16 | 28 | 32 | 58 |
Commercial Real Estate Portfolio Segment | ||||
Financing Receivable, Impaired | ||||
Interest payment on impaired loans | $31 | $25 | $78 | $53 |
Loans_Non_Accrual_Loans_by_Cla
Loans - Non Accrual Loans by Class of Loans (Detail) (USD $) | Dec. 31, 2014 | Jun. 30, 2014 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Impaired | ||
Non-accrual Loans | $7,799 | $7,648 |
Residential Real Estate Portfolio Segment | One-to-Four Family | ||
Financing Receivable, Impaired | ||
Non-accrual Loans | 5,711 | 5,390 |
Residential Real Estate Portfolio Segment | Multi-family | ||
Financing Receivable, Impaired | ||
Non-accrual Loans | 738 | 781 |
Commercial Real Estate Portfolio Segment | ||
Financing Receivable, Impaired | ||
Non-accrual Loans | 1,344 | 1,460 |
Consumer | Automobile | ||
Financing Receivable, Impaired | ||
Non-accrual Loans | 0 | 2 |
Consumer | Other | ||
Financing Receivable, Impaired | ||
Non-accrual Loans | $6 | $15 |
Loans_Aging_of_Past_Due_Loans_
Loans - Aging of Past Due Loans (Detail) (USD $) | Dec. 31, 2014 | Jun. 30, 2014 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment, Past Due | ||
30-59 Days Delinquent | $1,693 | $3,328 |
60-89 Days Delinquent | 229 | 428 |
90 Days or More Delinquent | 969 | 717 |
Total Delinquent Loans | 2,891 | 4,473 |
Total Current Loans | 681,638 | 715,381 |
Total Loans | 684,529 | 719,854 |
Real Estate | ||
Financing Receivable, Recorded Investment, Past Due | ||
Total Loans | 623,248 | 662,062 |
Real Estate | One-to-Four Family | ||
Financing Receivable, Recorded Investment, Past Due | ||
30-59 Days Delinquent | 1,374 | 2,123 |
60-89 Days Delinquent | 160 | 409 |
90 Days or More Delinquent | 967 | 301 |
Total Delinquent Loans | 2,501 | 2,833 |
Total Current Loans | 276,000 | 286,127 |
Total Loans | 278,501 | 288,960 |
Real Estate | Multi-family | ||
Financing Receivable, Recorded Investment, Past Due | ||
30-59 Days Delinquent | 0 | 0 |
60-89 Days Delinquent | 0 | 0 |
90 Days or More Delinquent | 0 | 0 |
Total Delinquent Loans | 0 | 0 |
Total Current Loans | 313,270 | 335,040 |
Total Loans | 313,270 | 335,040 |
Commercial Real Estate Portfolio Segment | ||
Financing Receivable, Recorded Investment, Past Due | ||
30-59 Days Delinquent | 0 | 1,061 |
60-89 Days Delinquent | 0 | 0 |
90 Days or More Delinquent | 0 | 399 |
Total Delinquent Loans | 0 | 1,460 |
Total Current Loans | 31,477 | 36,602 |
Total Loans | 31,477 | 38,062 |
Consumer | ||
Financing Receivable, Recorded Investment, Past Due | ||
Total Loans | 61,281 | 57,792 |
Consumer | Automobile | ||
Financing Receivable, Recorded Investment, Past Due | ||
30-59 Days Delinquent | 261 | 113 |
60-89 Days Delinquent | 49 | 15 |
90 Days or More Delinquent | 0 | 2 |
Total Delinquent Loans | 310 | 130 |
Total Current Loans | 48,041 | 45,556 |
Total Loans | 48,351 | 45,686 |
Consumer | Home Equity | ||
Financing Receivable, Recorded Investment, Past Due | ||
30-59 Days Delinquent | 0 | 0 |
60-89 Days Delinquent | 0 | 0 |
90 Days or More Delinquent | 0 | 0 |
Total Delinquent Loans | 0 | 0 |
Total Current Loans | 607 | 625 |
Total Loans | 607 | 625 |
Consumer | Other loans | ||
Financing Receivable, Recorded Investment, Past Due | ||
30-59 Days Delinquent | 58 | 31 |
60-89 Days Delinquent | 20 | 4 |
90 Days or More Delinquent | 2 | 15 |
Total Delinquent Loans | 80 | 50 |
Total Current Loans | 12,243 | 11,431 |
Total Loans | $12,323 | $11,481 |
Loans_Risk_Category_of_Loans_b
Loans - Risk Category of Loans by Class of Loans (Detail) (USD $) | Dec. 31, 2014 | Jun. 30, 2014 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment | ||
Loans Receivable | $684,529 | $719,854 |
Commercial Real Estate Portfolio Segment | ||
Financing Receivable, Recorded Investment | ||
Loans Receivable | 31,477 | 38,062 |
Consumer | ||
Financing Receivable, Recorded Investment | ||
Loans Receivable | 61,281 | 57,792 |
Consumer | Automobile | ||
Financing Receivable, Recorded Investment | ||
Loans Receivable | 48,351 | 45,686 |
Consumer | Home Equity | ||
Financing Receivable, Recorded Investment | ||
Loans Receivable | 607 | 625 |
Consumer | Other | ||
Financing Receivable, Recorded Investment | ||
Loans Receivable | 12,323 | 11,481 |
Pass | ||
Financing Receivable, Recorded Investment | ||
Loans Receivable | 653,198 | 682,590 |
Pass | Residential Real Estate Portfolio Segment | One-to-Four Family | ||
Financing Receivable, Recorded Investment | ||
Loans Receivable | 263,379 | 272,261 |
Pass | Residential Real Estate Portfolio Segment | Multi-family | ||
Financing Receivable, Recorded Investment | ||
Loans Receivable | 309,791 | 327,999 |
Pass | Commercial Real Estate Portfolio Segment | ||
Financing Receivable, Recorded Investment | ||
Loans Receivable | 19,272 | 24,708 |
Pass | Consumer | Automobile | ||
Financing Receivable, Recorded Investment | ||
Loans Receivable | 47,909 | 45,542 |
Pass | Consumer | Home Equity | ||
Financing Receivable, Recorded Investment | ||
Loans Receivable | 607 | 625 |
Pass | Consumer | Other | ||
Financing Receivable, Recorded Investment | ||
Loans Receivable | 12,240 | 11,455 |
Special Mention | ||
Financing Receivable, Recorded Investment | ||
Loans Receivable | 13,989 | 21,082 |
Special Mention | Residential Real Estate Portfolio Segment | One-to-Four Family | ||
Financing Receivable, Recorded Investment | ||
Loans Receivable | 8,477 | 10,257 |
Special Mention | Residential Real Estate Portfolio Segment | Multi-family | ||
Financing Receivable, Recorded Investment | ||
Loans Receivable | 2,300 | 3,174 |
Special Mention | Commercial Real Estate Portfolio Segment | ||
Financing Receivable, Recorded Investment | ||
Loans Receivable | 2,959 | 7,556 |
Special Mention | Consumer | Automobile | ||
Financing Receivable, Recorded Investment | ||
Loans Receivable | 235 | 87 |
Special Mention | Consumer | Other | ||
Financing Receivable, Recorded Investment | ||
Loans Receivable | 18 | 8 |
Substandard | ||
Financing Receivable, Recorded Investment | ||
Loans Receivable | 17,244 | 16,164 |
Substandard | Residential Real Estate Portfolio Segment | One-to-Four Family | ||
Financing Receivable, Recorded Investment | ||
Loans Receivable | 6,645 | 6,442 |
Substandard | Residential Real Estate Portfolio Segment | Multi-family | ||
Financing Receivable, Recorded Investment | ||
Loans Receivable | 1,179 | 3,867 |
Substandard | Commercial Real Estate Portfolio Segment | ||
Financing Receivable, Recorded Investment | ||
Loans Receivable | 9,246 | 5,798 |
Substandard | Consumer | Automobile | ||
Financing Receivable, Recorded Investment | ||
Loans Receivable | 162 | 55 |
Substandard | Consumer | Other | ||
Financing Receivable, Recorded Investment | ||
Loans Receivable | 12 | 2 |
Doubtful | ||
Financing Receivable, Recorded Investment | ||
Loans Receivable | 92 | 1 |
Doubtful | Consumer | Automobile | ||
Financing Receivable, Recorded Investment | ||
Loans Receivable | 45 | 0 |
Doubtful | Consumer | Other | ||
Financing Receivable, Recorded Investment | ||
Loans Receivable | 47 | 1 |
Loss | ||
Financing Receivable, Recorded Investment | ||
Loans Receivable | 6 | 17 |
Loss | Consumer | Automobile | ||
Financing Receivable, Recorded Investment | ||
Loans Receivable | 0 | 2 |
Loss | Consumer | Other | ||
Financing Receivable, Recorded Investment | ||
Loans Receivable | $6 | $15 |
Real_Estate_Owned_Changes_in_R
Real Estate Owned - Changes in Real Estate Owned (Detail) (USD $) | 6 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Other Real Estate [Roll Forward] | ||
Beginning of period | $284,000 | $0 |
Transfers in | 306,000 | 539,000 |
Capitalized expenditures | 0 | 70,000 |
Sales | -590,000 | -325,000 |
End of period | 0 | 284,000 |
Real Estate Owned, Valuation Allowance | $0 | $0 |
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, 2014 | Dec. 31, 2013 |
Banking and Thrift [Abstract] | ||
Net gain on sales | $181 | $4 |
Net operating expense | -13 | -19 |
Total | $168 | ($15) |
Federal_Home_Loan_Bank_Advance2
Federal Home Loan Bank Advances - Additional Information (Detail) (USD $) | Dec. 31, 2014 | Jun. 30, 2014 |
In Millions, unless otherwise specified | ||
Banking and Thrift [Abstract] | ||
FHLB advances | $65 | $85 |
FHLB advances, minimum stated interest rates | 0.82% | 0.82% |
FHLB advances, maximum stated interest rates | 2.43% | 2.43% |
FHLB advances, weighted average stated rate | 1.80% | 1.57% |
Federal_Home_Loan_Bank_Advance3
Federal Home Loan Bank Advances - Contractual Maturities of Federal Home Loan Bank Advances by Year (Detail) (USD $) | Dec. 31, 2014 | Jun. 30, 2014 |
In Thousands, unless otherwise specified | ||
Banking and Thrift [Abstract] | ||
2015 | $0 | $20,000 |
2016 | 0 | 0 |
2017 | 25,000 | 25,000 |
2018 | 10,000 | 10,000 |
2019 | 30,000 | 30,000 |
Total | $65,000 | $85,000 |
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, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 |
Increase (Decrease) in Accumulated Other Comprehensive Income Rollforward [Roll Forward] | ||||
Balance at beginning of period | ($257) | ($436) | ($224) | ($491) |
Other comprehensive income (loss) before reclassifications | 194 | -347 | 126 | -272 |
Amounts reclassified from accumulated other comprehensive income | 202 | -330 | 147 | -237 |
Amounts reclassified from accumulated other comprehensive income | 8 | 17 | 21 | 35 |
Tax effect of current period changes | -83 | 135 | -61 | 97 |
Other comprehensive income (loss), net of tax | 119 | -195 | 86 | -140 |
Balance at end of period | -138 | -631 | -138 | -631 |
Unrealized Gain and losses on securities available-for-sale | ||||
Increase (Decrease) in Accumulated Other Comprehensive Income Rollforward [Roll Forward] | ||||
Balance at beginning of period | -172 | -307 | -139 | -362 |
Other comprehensive income (loss) before reclassifications | 202 | -330 | 147 | -237 |
Amounts reclassified from accumulated other comprehensive income | 0 | 0 | 0 | 0 |
Tax effect of current period changes | -83 | 135 | -61 | 97 |
Other comprehensive income (loss), net of tax | 119 | -195 | 86 | -140 |
Balance at end of period | -53 | -502 | -53 | -502 |
Postretirement medical benefits costs items | ||||
Increase (Decrease) in Accumulated Other Comprehensive Income Rollforward [Roll Forward] | ||||
Balance at beginning of period | -85 | -129 | -85 | -129 |
Other comprehensive income (loss) before reclassifications | -8 | -17 | -21 | -35 |
Amounts reclassified from accumulated other comprehensive income | 8 | 17 | 21 | 35 |
Tax effect of current period changes | 0 | 0 | 0 | 0 |
Other comprehensive income (loss), net of tax | 0 | 0 | 0 | 0 |
Balance at end of period | ($85) | ($129) | ($85) | ($129) |
Repurchase_of_Common_Stock_Add
Repurchase of Common Stock - Additional Information (Detail) (USD $) | 38 Months Ended | |
Dec. 31, 2014 | Nov. 04, 2013 | |
Equity Note | ||
Repurchase of common stock, shares | 2,312,765 | |
Repurchase of common stock, weighted average price per share | $15.02 | |
Remaining shares of common stock authorized for repurchased, shares | 240,079 | |
Minimum | ||
Equity Note | ||
Repurchase of common stock, per shares | $12 | |
Maximum | ||
Equity Note | ||
Repurchase of common stock, per shares | $17.90 | |
Stock Repurchase Plan Six [Member] | ||
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 | 374,393 |