Document_And_Entity_Informatio
Document And Entity Information | 6 Months Ended |
Mar. 31, 2015 | |
Document Information [Line Items] | |
Document Type | 10-Q |
Amendment Flag | FALSE |
Document Period End Date | 31-Mar-15 |
Document Fiscal Year Focus | 2015 |
Document Fiscal Period Focus | Q2 |
Entity Registrant Name | First Savings Financial Group Inc |
Entity Central Index Key | 1435508 |
Current Fiscal Year End Date | -21 |
Entity Filer Category | Smaller Reporting Company |
Trading Symbol | FSFG |
Entity Common Stock, Shares Outstanding | 2,187,993 |
CONSOLIDATED_BALANCE_SHEETS
CONSOLIDATED BALANCE SHEETS (USD $) | Mar. 31, 2015 | Sep. 30, 2014 |
In Thousands, unless otherwise specified | ||
ASSETS | ||
Cash and due from banks | $9,875 | $8,853 |
Interest-bearing deposits with banks | 10,322 | 11,477 |
Total cash and cash equivalents | 20,197 | 20,330 |
Interest-bearing time deposits | 2,235 | 1,500 |
Trading account securities, at fair value | 5,229 | 5,319 |
Securities available for sale, at fair value | 183,375 | 184,697 |
Securities held to maturity | 5,012 | 5,419 |
Loans held for sale | 320 | 281 |
Loans, net | 445,024 | 433,876 |
Federal Reserve Bank and Federal Home Loan Bank stock, at cost | 7,462 | 6,517 |
Real estate development and construction | 7,105 | 7,202 |
Premises and equipment | 14,027 | 14,275 |
Other real estate owned, held for sale | 552 | 953 |
Accrued interest receivable: | ||
Loans | 1,227 | 1,276 |
Securities | 1,283 | 1,235 |
Cash surrender value of life insurance | 18,266 | 18,021 |
Goodwill | 7,936 | 7,936 |
Core deposit intangibles | 1,553 | 1,725 |
Other assets | 6,044 | 2,567 |
Total Assets | 726,847 | 713,129 |
Deposits: | ||
Noninterest-bearing | 62,553 | 56,092 |
Interest-bearing | 474,384 | 477,102 |
Total deposits | 536,937 | 533,194 |
Repurchase agreements | 1,340 | 1,338 |
Borrowings from Federal Home Loan Bank | 81,554 | 79,548 |
Other long-term debt | 4,724 | 4,812 |
Accrued interest payable | 179 | 175 |
Advance payments by borrowers for taxes and insurance | 747 | 748 |
Accrued expenses and other liabilities | 9,667 | 6,234 |
Total Liabilities | 635,148 | 626,049 |
STOCKHOLDERS' EQUITY | ||
Common stock of $.01 par value per share Authorized 20,000,000 shares; issued 2,542,042 shares; outstanding 2,187,993 shares (2,171,812 shares at September 30, 2014) | 25 | 25 |
Retained earnings - substantially restricted | 49,345 | 47,175 |
Accumulated other comprehensive income | 5,251 | 3,853 |
Unearned ESOP shares | -281 | -537 |
Unearned stock compensation | -31 | -162 |
Less treasury stock, at cost - 354,049 shares (370,230 shares at September 30, 2014) | -6,225 | -6,473 |
Total Stockholders' Equity | 91,699 | 87,080 |
Total Liabilities and Stockholders' Equity | 726,847 | 713,129 |
Preferred Stock | ||
STOCKHOLDERS' EQUITY | ||
Preferred stock | 0 | 0 |
Additional paid-in capital | 17,120 | 17,120 |
Senior Non-Cumulative Perpetual Preferred Stock, Series A | ||
STOCKHOLDERS' EQUITY | ||
Preferred stock | 0 | 0 |
Common Stock | ||
STOCKHOLDERS' EQUITY | ||
Additional paid-in capital | $26,495 | $26,079 |
CONSOLIDATED_BALANCE_SHEETS_Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $) | Mar. 31, 2015 | Sep. 30, 2014 |
Preferred stock, par value | $0.01 | $0.01 |
Preferred Stock, Authorized | 982,880 | 982,880 |
Preferred Stock, issued | 0 | 0 |
Common stock, par value | $0.01 | $0.01 |
Common stock, Authorized | 20,000,000 | 20,000,000 |
Common stock, issued | 2,542,042 | 2,542,042 |
Common stock, outstanding | 2,187,993 | 2,171,812 |
Treasury stock, shares | 354,049 | 370,230 |
Senior Non-Cumulative Perpetual Preferred Stock, Series A | ||
Preferred stock, par value | $0.01 | $0.01 |
Preferred Stock, Authorized | 17,120 | 17,120 |
Preferred Stock, issued | 17,120 | 17,120 |
Preferred Stock, outstanding | 17,120 | 17,120 |
Preferred Stock, aggregate liquidation preference | $17,120,000 | $17,120,000 |
CONSOLIDATED_STATEMENTS_OF_INC
CONSOLIDATED STATEMENTS OF INCOME (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Mar. 31, 2015 | Mar. 31, 2014 |
INTEREST INCOME | ||||
Loans, including fees | $5,350 | $5,257 | $10,720 | $10,482 |
Securities: | ||||
Taxable | 992 | 1,223 | 2,084 | 2,253 |
Tax-exempt | 489 | 424 | 960 | 844 |
Dividend income | 83 | 78 | 146 | 128 |
Interest-bearing deposits with banks | 10 | 8 | 23 | 17 |
Total interest income | 6,924 | 6,990 | 13,933 | 13,724 |
INTEREST EXPENSE | ||||
Deposits | 598 | 598 | 1,240 | 1,210 |
Repurchase agreements | 1 | 1 | 2 | 2 |
Borrowings from Federal Home Loan Bank | 308 | 241 | 548 | 493 |
Loans payable | 45 | 48 | 93 | 105 |
Total interest expense | 952 | 888 | 1,883 | 1,810 |
Net interest income | 5,972 | 6,102 | 12,050 | 11,914 |
Provision for loan losses | 212 | 303 | 419 | 604 |
Net interest income after provision for loan losses | 5,760 | 5,799 | 11,631 | 11,310 |
NONINTEREST INCOME | ||||
Service charges on deposit accounts | 305 | 279 | 676 | 597 |
Net gain on sales of available for sale securities | 0 | 0 | 0 | 1 |
Net gain on trading account securities | 89 | 205 | 160 | 362 |
Unrealized loss on derivative contract | -1 | -3 | -1 | -5 |
Net gain on sales of loans | 49 | 42 | 134 | 119 |
Increase in cash surrender value of life insurance | 117 | 134 | 245 | 231 |
Commission income | 107 | 73 | 168 | 140 |
Real estate lease income | 150 | 119 | 301 | 261 |
Other income | 262 | 533 | 506 | 780 |
Total noninterest income | 1,078 | 1,382 | 2,189 | 2,486 |
NONINTEREST EXPENSE | ||||
Compensation and benefits | 2,637 | 2,730 | 5,638 | 5,709 |
Occupancy and equipment | 652 | 642 | 1,256 | 1,275 |
Data processing | 348 | 294 | 729 | 604 |
Advertising | 147 | 73 | 253 | 140 |
Professional fees | 201 | 387 | 515 | 632 |
FDIC insurance premiums | 115 | 102 | 224 | 222 |
Net loss on other real estate owned | 16 | 38 | 21 | 108 |
Other operating expenses | 760 | 755 | 1,614 | 1,495 |
Total noninterest expense | 4,876 | 5,021 | 10,250 | 10,185 |
Income before income taxes | 1,962 | 2,160 | 3,570 | 3,611 |
Income tax expense | 435 | 624 | 843 | 1,047 |
Net Income | 1,527 | 1,536 | 2,727 | 2,564 |
Preferred stock dividends declared | 43 | 43 | 86 | 86 |
Net Income Available to Common Shareholders | $1,484 | $1,493 | $2,641 | $2,478 |
Net income per common share: | ||||
Basic | $0.69 | $0.70 | $1.24 | $1.15 |
Diluted | $0.66 | $0.66 | $1.18 | $1.10 |
Weighted average common shares outstanding: | ||||
Basic | 2,138,931 | 2,140,414 | 2,125,369 | 2,149,426 |
Diluted | 2,245,371 | 2,248,961 | 2,231,574 | 2,254,999 |
Dividends per common share | $0.12 | $0.11 | $0.23 | $0.21 |
CONSOLIDATED_STATEMENTS_OF_COM
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Mar. 31, 2015 | Mar. 31, 2014 |
Net Income | $1,527 | $1,536 | $2,727 | $2,564 |
Unrealized gains on securities available for sale: | ||||
Unrealized holding gains arising during the period | 1,173 | 1,634 | 2,168 | 1,102 |
Income tax expense | -417 | -575 | -770 | -380 |
Net of tax amount | 756 | 1,059 | 1,398 | 722 |
Less: reclassification adjustment for realized gains included in net income | 0 | 0 | 0 | -1 |
Income tax expense | 0 | 0 | 0 | 1 |
Net of tax amount | 0 | 0 | 0 | 0 |
Other Comprehensive Income | 756 | 1,059 | 1,398 | 722 |
Comprehensive Income | $2,283 | $2,595 | $4,125 | $3,286 |
CONSOLIDATED_STATEMENTS_OF_CHA
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (USD $) | Total | Preferred Stock | Common Stock | Additional Paid-in Capital | Retained Earnings | Accumulated Other Comprehensive Income | Unearned Stock Compensation and ESOP | Treasury Stock |
In Thousands | ||||||||
Balance at Sep. 30, 2013 | $82,253 | $0 | $25 | $42,584 | $42,870 | $1,468 | ($1,287) | ($3,407) |
Net income | 2,564 | 0 | 0 | 0 | 2,564 | 0 | 0 | 0 |
Other comprehensive loss | 722 | 0 | 0 | 0 | 0 | 722 | 0 | 0 |
Preferred stock dividends | -86 | 0 | 0 | 0 | -86 | 0 | 0 | 0 |
Common stock dividends | -435 | 0 | 0 | 0 | -435 | 0 | 0 | 0 |
Stock compensation expense | 206 | 0 | 0 | 76 | 0 | 0 | 130 | 0 |
Shares released by ESOP trust | 557 | 0 | 0 | 310 | 0 | 0 | 247 | 0 |
Purchase of treasury shares | -2,463 | 0 | 0 | 0 | 0 | 0 | 0 | -2,463 |
Balances at Mar. 31, 2014 | 83,318 | 0 | 25 | 42,970 | 44,913 | 2,190 | -910 | -5,870 |
Balance at Sep. 30, 2014 | 87,080 | 0 | 25 | 43,199 | 47,175 | 3,853 | -699 | -6,473 |
Net income | 2,727 | 0 | 0 | 0 | 2,727 | 0 | 0 | 0 |
Other comprehensive loss | 1,398 | 0 | 0 | 0 | 0 | 1,398 | 0 | 0 |
Preferred stock dividends | -86 | 0 | 0 | 0 | -86 | 0 | 0 | 0 |
Common stock dividends | -471 | 0 | 0 | 0 | -471 | 0 | 0 | 0 |
Stock compensation expense | 239 | 0 | 0 | 108 | 0 | 0 | 131 | 0 |
Shares released by ESOP trust | 653 | 0 | 0 | 397 | 0 | 0 | 256 | 0 |
Stock options exercise - 20,972 shares | 278 | 0 | 0 | -89 | 0 | 0 | 0 | 367 |
Purchase of treasury shares | -119 | 0 | 0 | 0 | 0 | 0 | 0 | -119 |
Balances at Mar. 31, 2015 | $91,699 | $0 | $25 | $43,615 | $49,345 | $5,251 | ($312) | ($6,225) |
CONSOLIDATED_STATEMENTS_OF_CHA1
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Parenthetical) (USD $) | 6 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | |
Purchase of treasury shares, shares | 4,791 | 106,074 |
Dividends per common share | $0.23 | $0.21 |
Stock option exercise, shares | 20,972 |
CONSOLIDATED_STATEMENTS_OF_CAS
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) | 6 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net income | $2,727 | $2,564 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Provision for loan losses | 419 | 604 |
Depreciation and amortization | 721 | 704 |
Amortization of premiums and accretion of discounts on securities, net | 388 | 304 |
(Increase) decrease in trading account securities | 90 | -1,889 |
Loans originated for sale | -4,436 | -3,396 |
Proceeds on sales of loans | 4,531 | 3,855 |
Net gain on sales of loans | -134 | -119 |
Net realized and unrealized (gain) loss on other real estate owned | 12 | 4 |
Net gain on sales of available for sale securities | 0 | -1 |
Unrealized loss on derivative contract | 1 | 5 |
Increase in cash surrender value of life insurance | -245 | -231 |
Deferred income taxes | -247 | -193 |
ESOP and stock compensation expense | 808 | 727 |
(Increase) decrease in accrued interest receivable | 1 | -115 |
Increase (decrease) in accrued interest payable | 4 | -2 |
Change in other assets and liabilities, net | -91 | 555 |
Net Cash Provided By Operating Activities | 4,549 | 3,376 |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Investment in interest-bearing time deposits | -735 | 0 |
Purchase of securities available for sale | -11,684 | -27,133 |
Proceeds from sales of securities available for sale | 0 | 303 |
Proceeds from maturities of securities available for sale | 6,117 | 2,233 |
Proceeds from maturities of securities held to maturity | 342 | 384 |
Principal collected on securities | 8,737 | 6,842 |
Net increase in loans | -11,652 | -21,112 |
Purchase of Federal Reserve Bank stock | -945 | 0 |
Purchase of Federal Home Loan Bank stock | -461 | -175 |
Proceeds from redemption of Federal Home Loan Bank stock | 461 | 0 |
Investment in cash surrender value of life insurance | 0 | -5,000 |
Investment in historic tax credit entity | -417 | 0 |
Proceeds from sale of other real estate owned | 495 | 317 |
Investment in real estate development and construction | 0 | -216 |
Purchase of premises and equipment | -204 | -316 |
Net Cash Used In Investing Activities | -9,946 | -43,873 |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Net increase in deposits | 3,743 | 46,164 |
Net increase in repurchase agreements | 2 | 1 |
Increase (decrease) in Federal Home Loan Bank line of credit | -7,994 | 1,396 |
Proceeds from Federal Home Loan Bank advances | 205,000 | 177,000 |
Repayment of Federal Home Loan Bank advances | -195,000 | -182,000 |
Repayment of other long-term debt | -88 | -77 |
Net decrease in advance payments by borrowers for taxes and insurance | -1 | -53 |
Exercise of stock options | 278 | |
Purchase of treasury stock | -119 | -2,357 |
Dividends paid on preferred stock | -86 | -86 |
Dividends paid on common stock | -471 | -435 |
Net Cash Provided By Financing Activities | 5,264 | 39,553 |
Net Decrease in Cash and Cash Equivalents | -133 | -944 |
Cash and cash equivalents at beginning of year | 20,330 | 20,815 |
Cash and Cash Equivalents at End of Year | $20,197 | $19,871 |
Presentation_of_Interim_Inform
Presentation of Interim Information | 6 Months Ended | |
Mar. 31, 2015 | ||
Organization, Consolidation and Presentation Of Financial Statements [Abstract] | ||
Presentation of Interim Information | 1 | Presentation of Interim Information |
First Savings Financial Group, Inc. (the “Company”) is a financial holding company and the parent of First Savings Bank (the “Bank”) and First Savings Insurance Risk Management, Inc. (the “Captive”). | ||
The Bank, which is a wholly-owned Indiana-chartered commercial bank subsidiary of the Company, provides a variety of banking services to individuals and business customers through fifteen locations in southern Indiana. The Bank attracts deposits primarily from the general public and uses those funds, along with other borrowings, primarily to originate residential mortgage, commercial mortgage, construction, commercial business and consumer loans, and to a lesser extent, to invest in mortgage-backed securities and other securities. The Bank has three wholly-owned subsidiaries: First Savings Investments, Inc., a Nevada corporation that manages a securities portfolio; FFCC, Inc., which is an Indiana corporation that participates in commercial real estate development and leasing; and Southern Indiana Financial Corporation, which is currently inactive. | ||
The Captive, which is a wholly-owned insurance subsidiary of the Company formed during the fourth fiscal quarter of 2014, is a Nevada corporation that provides property and casualty insurance to the Company, the Bank and the Bank’s active subsidiaries. In addition, the Captive provides reinsurance to seven other third-party insurance captives for which insurance may not be currently available or economically feasible in the insurance marketplace. | ||
In the opinion of management, the unaudited consolidated financial statements include all adjustments considered necessary to present fairly the financial position as of March 31, 2015, the results of operations for the three- and six-month periods ended March 31, 2015 and 2014, and the cash flows for the six-month periods ended March 31, 2015 and 2014. All of these adjustments are of a normal, recurring nature. Such adjustments are the only adjustments included in the unaudited consolidated financial statements. Interim results are not necessarily indicative of results for a full year. | ||
The accompanying unaudited consolidated financial statements and notes have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial statements, conform to general practices within the banking industry and are presented as permitted by the instructions to Form 10-Q. Accordingly, they do not contain certain information included in the Company’s audited consolidated financial statements and related notes for the year ended September 30, 2014 included in the Company’s Annual Report on Form 10-K. | ||
The unaudited consolidated financial statements include the accounts of the Company and its subsidiaries. All material intercompany balances and transactions have been eliminated in consolidation. Certain prior period amounts have been reclassified to conform with the current period presentation. | ||
Investment_Securities
Investment Securities | 6 Months Ended | |||||||||||||
Mar. 31, 2015 | ||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ||||||||||||||
Investment Securities | 2 | Investment Securities | ||||||||||||
Agency bonds and notes, agency mortgage-backed securities and agency collateralized mortgage obligations (“CMO”) include securities issued by the Government National Mortgage Association (“GNMA”), a U.S. government agency, and the Federal National Mortgage Association (“FNMA”), the Federal Home Loan Mortgage Corporation (“FHLMC”) and the Federal Home Loan Bank (“FHLB”), which are U.S. government-sponsored enterprises. The Company also holds a pass-through asset-backed security guaranteed by the Small Business Administration (“SBA”) representing participating interests in pools of long-term debentures issued by state and local development companies certified by the SBA. Privately-issued CMO and asset-backed securities (“ABS”) are complex securities issued by non-government special-purpose entities that are collateralized by residential mortgage loans and residential home equity loans. | ||||||||||||||
Investment securities have been classified according to management’s intent. | ||||||||||||||
Trading Account Securities | ||||||||||||||
The Company invests in small and medium lot, investment grade municipal bonds through a managed brokerage account. The brokerage account is managed by an investment advisory firm registered with the U.S. Securities and Exchange Commission. At March 31, 2015 and September 30, 2014, trading account securities recorded at fair value totaled $5.2 million and $5.3 million, respectively, and were comprised of investment grade municipal bonds. During the six-months ended March 31, 2015, the Company reported net gains on trading account securities of $160,000, including net realized gains on the sale of securities of $159,000, and net unrealized gains on securities still held as of the balance sheet date of $1,000. During the three-months ended March 31, 2015, the Company reported net gains on trading account securities of $89,000, including net realized gains on the sale of securities of $83,000 and net unrealized gains on securities still held as of the balance sheet date of $6,000. During the six-months ended March 31, 2014, the Company reported net gains on trading account securities of $362,000, including net realized gains on the sale of securities of $418,000, partially offset by net unrealized losses on securities still held as of the balance sheet date of $56,000. During the three-months ended March 31, 2014, the Company reported net gains on trading account securities of $205,000, including net realized gains on the sale of securities of $252,000, partially offset by net unrealized losses on securities still held as of the balance sheet date of $47,000. | ||||||||||||||
Securities Available for Sale and Held to Maturity | ||||||||||||||
The amortized cost of securities available for sale and held to maturity and their approximate fair values are as follows: | ||||||||||||||
Gross | Gross | |||||||||||||
Amortized | Unrealized | Unrealized | Fair | |||||||||||
Cost | Gains | Losses | Value | |||||||||||
(In thousands) | ||||||||||||||
March 31, 2015: | ||||||||||||||
Securities available for sale: | ||||||||||||||
Agency bonds and notes | $ | 9,083 | $ | 24 | $ | 6 | $ | 9,101 | ||||||
Agency mortgage-backed | 48,508 | 1,001 | 13 | 49,496 | ||||||||||
Agency CMO | 24,717 | 150 | 103 | 24,764 | ||||||||||
Privately-issued CMO | 3,159 | 553 | - | 3,712 | ||||||||||
Privately-issued ABS | 5,208 | 1,572 | - | 6,780 | ||||||||||
SBA certificates | 1,619 | 12 | - | 1,631 | ||||||||||
Municipal obligations | 82,732 | 5,205 | 46 | 87,891 | ||||||||||
Total securities available for sale | $ | 175,026 | $ | 8,517 | $ | 168 | $ | 183,375 | ||||||
Securities held to maturity: | ||||||||||||||
Agency mortgage-backed | $ | 402 | $ | 33 | $ | - | $ | 435 | ||||||
Municipal obligations | 4,610 | 648 | - | 5,258 | ||||||||||
Total securities held to maturity | $ | 5,012 | $ | 681 | $ | - | $ | 5,693 | ||||||
Gross | Gross | |||||||||||||
Amortized | Unrealized | Unrealized | Fair | |||||||||||
Cost | Gains | Losses | Value | |||||||||||
(In thousands) | ||||||||||||||
September 30, 2014: | ||||||||||||||
Securities available for sale: | ||||||||||||||
Agency bonds and notes | $ | 12,269 | $ | 12 | $ | 190 | $ | 12,091 | ||||||
Agency mortgage-backed | 51,845 | 518 | 108 | 52,255 | ||||||||||
Agency CMO | 29,648 | 95 | 259 | 29,484 | ||||||||||
Privately-issued CMO | 3,302 | 618 | - | 3,920 | ||||||||||
Privately-issued ABS | 5,552 | 1,801 | - | 7,353 | ||||||||||
SBA certificates | 1,753 | 9 | - | 1,762 | ||||||||||
Municipal obligations | 74,148 | 3,818 | 134 | 77,832 | ||||||||||
Total securities available for sale | $ | 178,517 | $ | 6,871 | $ | 691 | $ | 184,697 | ||||||
Securities held to maturity: | ||||||||||||||
Agency mortgage-backed | $ | 455 | $ | 37 | $ | - | $ | 492 | ||||||
Municipal | 4,964 | 393 | - | 5,357 | ||||||||||
Total securities held to maturity | $ | 5,419 | $ | 430 | $ | - | $ | 5,849 | ||||||
The amortized cost and fair value of investment securities as of March 31, 2015 by contractual maturity are shown below. Expected maturities of mortgage-backed securities, CMO and ABS may differ from contractual maturities because the mortgages underlying the obligations may be prepaid without penalty. | ||||||||||||||
Available for Sale | Held to Maturity | |||||||||||||
Amortized | Fair | Amortized | Fair | |||||||||||
Cost | Value | Cost | Value | |||||||||||
(In thousands) | ||||||||||||||
Due within one year | $ | 530 | $ | 534 | $ | 604 | $ | 655 | ||||||
Due after one year through five years | 5,374 | 5,652 | 1,779 | 2,093 | ||||||||||
Due after five years through ten years | 23,662 | 25,094 | 1,386 | 1,579 | ||||||||||
Due after ten years | 62,249 | 65,712 | 841 | 931 | ||||||||||
91,815 | 96,992 | 4,610 | 5,258 | |||||||||||
CMO | 27,876 | 28,476 | - | - | ||||||||||
ABS | 5,208 | 6,780 | - | - | ||||||||||
SBA certificates | 1,619 | 1,631 | - | - | ||||||||||
Mortgage-backed securities | 48,508 | 49,496 | 402 | 435 | ||||||||||
$ | 175,026 | $ | 183,375 | $ | 5,012 | $ | 5,693 | |||||||
Information pertaining to investment securities with gross unrealized losses at March 31, 2015, aggregated by investment category and the length of time that individual securities have been in a continuous loss position, follows: | ||||||||||||||
Number | Gross | |||||||||||||
of Investment | Fair | Unrealized | ||||||||||||
Positions | Value | Losses | ||||||||||||
(Dollars in thousands) | ||||||||||||||
Securities available for sale: | ||||||||||||||
Continuous loss position less than twelve months: | ||||||||||||||
Agency mortgage-backed | 1 | $ | 1,204 | $ | 1 | |||||||||
Agency CMO | 2 | 436 | 6 | |||||||||||
Municipal obligations | 5 | 3,115 | 42 | |||||||||||
Total less than twelve months | 8 | 4,755 | 49 | |||||||||||
Continuous loss position more than twelve months: | ||||||||||||||
Agency bonds and notes | 1 | 1,995 | 6 | |||||||||||
Agency mortgage-backed | 2 | 2,218 | 12 | |||||||||||
Agency CMO | 3 | 8,664 | 97 | |||||||||||
Municipal obligations | 2 | 1,280 | 4 | |||||||||||
Total more than twelve months | 8 | 14,157 | 119 | |||||||||||
Total securities available for sale | 16 | $ | 18,912 | $ | 168 | |||||||||
At March 31, 2015, the Company did not have any securities held to maturity with an unrealized loss. | ||||||||||||||
Management evaluates securities for other-than-temporary impairment at least on a quarterly basis, and more frequently when economic or market conditions warrant such evaluation. Consideration is given to (1) the length of time and the extent to which the fair value has been less than cost, (2) the financial condition and near-term prospects of the issuer, and (3) the intent and ability of the Company to retain its investment in the issuer for a period of time sufficient to allow for any anticipated recovery in fair value. | ||||||||||||||
The total available for sale debt securities in loss positions at March 31, 2015, which consisted of U.S. government agency notes, mortgage-backed securities and CMOs, and municipal bonds, had depreciated approximately 0.88% from their amortized cost basis and are fixed and variable rate securities with a weighted-average yield of 1.58% and a weighted-average coupon rate of 3.28% at March 31, 2015. All of the agency and municipal securities are issued by U.S. government-sponsored enterprises and municipal governments, and are generally secured by first mortgage loans and municipal project revenues. | ||||||||||||||
The Company evaluates the existence of a potential credit loss component related to the decline in fair value of the privately-issued CMO and ABS portfolios each quarter using an independent third party analysis. At March 31, 2015, the Company held twenty privately-issued CMO and ABS securities acquired in a 2009 bank acquisition with an aggregate carrying value of $2.8 million and fair value of $4.1 million that have been downgraded to a substandard regulatory classification due to a downgrade of the security’s credit quality rating by various rating agencies. | ||||||||||||||
At March 31, 2015, there were no privately-issued CMOs or ABS in loss positions. Based on the independent third party analysis of the expected cash flows, management has determined that no other-than-temporary impairment is required to be recognized on the privately-issued CMO and ABS portfolios. While the Company did not recognize a credit-related impairment loss at March 31, 2015, additional deterioration in market and economic conditions may have an adverse impact on the credit quality in the future and therefore, require a credit-related impairment charge. | ||||||||||||||
The unrealized losses on U.S. government agency notes, mortgage-backed securities and CMOs, and municipal bonds relate principally to current interest rates for similar types of securities. In analyzing an issuer’s financial condition, management considers whether the securities are issued by the federal government, its agencies, or other governments, whether downgrades by bond rating agencies have occurred, and the results of reviews of the issuer’s financial condition. As management has the ability to hold debt securities to maturity, or for the foreseeable future if classified as available for sale, no declines are deemed to be other-than-temporary. | ||||||||||||||
During the six-month period ended March 31, 2015, the Company did not realize any gross gains or losses on sales of available for sale securities. During the six-month period ended March 31, 2014, the Company realized gross gains on sales of available for sale U.S. government agency notes of $1,000. The Company did not realize any gains or losses on sales of available for sale securities during the three-month periods ended March 31, 2015 and 2014. | ||||||||||||||
Certain available for sale debt securities were pledged under repurchase agreements and to secure FHLB borrowings at March 31, 2015 and September 30, 2014, and may be pledged to secure federal funds borrowings. | ||||||||||||||
Loans_and_Allowance_for_Loan_L
Loans and Allowance for Loan Losses | 6 Months Ended | ||||||||||||||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||||||||||||||
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract] | |||||||||||||||||||||||||||||||||||
Loans and Allowance for Loan Losses | 3 | Loans and Allowance for Loan Losses | |||||||||||||||||||||||||||||||||
Loans at March 31, 2015 and September 30, 2014 consisted of the following: | |||||||||||||||||||||||||||||||||||
March 31, | September 30, | ||||||||||||||||||||||||||||||||||
2015 | 2014 | ||||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||
Real estate mortgage: | |||||||||||||||||||||||||||||||||||
1-4 family residential | $ | 180,155 | $ | 182,743 | |||||||||||||||||||||||||||||||
Commercial | 163,855 | 153,896 | |||||||||||||||||||||||||||||||||
Multifamily residential | 23,097 | 21,286 | |||||||||||||||||||||||||||||||||
Residential construction | 17,301 | 14,528 | |||||||||||||||||||||||||||||||||
Commercial construction | 7,791 | 8,354 | |||||||||||||||||||||||||||||||||
Land and land development | 11,738 | 11,290 | |||||||||||||||||||||||||||||||||
Commercial business loans | 30,240 | 28,448 | |||||||||||||||||||||||||||||||||
Consumer: | |||||||||||||||||||||||||||||||||||
Home equity loans | 17,828 | 17,903 | |||||||||||||||||||||||||||||||||
Auto loans | 5,480 | 5,619 | |||||||||||||||||||||||||||||||||
Other consumer loans | 2,211 | 2,320 | |||||||||||||||||||||||||||||||||
Gross loans | 459,696 | 446,387 | |||||||||||||||||||||||||||||||||
Undisbursed portion of construction loans | -8,110 | -6,271 | |||||||||||||||||||||||||||||||||
Principal loan balance | 451,586 | 440,116 | |||||||||||||||||||||||||||||||||
Deferred loan origination fees and costs, net | -48 | 10 | |||||||||||||||||||||||||||||||||
Allowance for loan losses | -6,514 | -6,250 | |||||||||||||||||||||||||||||||||
Loans, net | $ | 445,024 | $ | 433,876 | |||||||||||||||||||||||||||||||
During the six-month period ended March 31, 2015, there was no significant change in the Company’s lending activities or methodology used to estimate the allowance for loan losses as disclosed in the Company’s Annual Report on Form 10-K for the year ended September 30, 2014. | |||||||||||||||||||||||||||||||||||
The following table provides the components of the recorded investment in loans as of March 31, 2015: | |||||||||||||||||||||||||||||||||||
Residential | Commercial | Land & Land | Commercial | ||||||||||||||||||||||||||||||||
Real Estate | Real Estate | Multifamily | Construction | Development | Business | Consumer | Total | ||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||
Recorded Investment in Loans: | |||||||||||||||||||||||||||||||||||
Principal loan balance | $ | 180,155 | $ | 163,855 | $ | 23,097 | $ | 16,982 | $ | 11,738 | $ | 30,240 | $ | 25,519 | $ | 451,586 | |||||||||||||||||||
Accrued interest receivable | 552 | 417 | 55 | 29 | 29 | 88 | 57 | 1,227 | |||||||||||||||||||||||||||
Net deferred loan origination fees and costs | 306 | -279 | -25 | -50 | 4 | -7 | 3 | -48 | |||||||||||||||||||||||||||
Recorded investment in loans | $ | 181,013 | $ | 163,993 | $ | 23,127 | $ | 16,961 | $ | 11,771 | $ | 30,321 | $ | 25,579 | $ | 452,765 | |||||||||||||||||||
Recorded Investment in Loans as Evaluated for Impairment: | |||||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 4,535 | $ | 5,671 | $ | - | $ | - | $ | - | $ | 369 | $ | 327 | $ | 10,902 | |||||||||||||||||||
Collectively evaluated for impairment | 176,004 | 158,322 | 23,127 | 16,961 | 11,771 | 29,952 | 25,221 | 441,358 | |||||||||||||||||||||||||||
Acquired with deteriorated credit quality | 474 | - | - | - | - | - | 31 | 505 | |||||||||||||||||||||||||||
Ending balance | $ | 181,013 | $ | 163,993 | $ | 23,127 | $ | 16,961 | $ | 11,771 | $ | 30,321 | $ | 25,579 | $ | 452,765 | |||||||||||||||||||
The following table provides the components of the recorded investment in loans as of September 30, 2014: | |||||||||||||||||||||||||||||||||||
Residential | Commercial | Multifamily | Construction | Land & Land | Commercial | Consumer | Total | ||||||||||||||||||||||||||||
Real Estate | Real Estate | Development | Business | ||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||
Recorded Investment in Loans: | |||||||||||||||||||||||||||||||||||
Principal loan balance | $ | 182,743 | $ | 153,896 | $ | 21,286 | $ | 16,611 | $ | 11,290 | $ | 28,448 | $ | 25,842 | $ | 440,116 | |||||||||||||||||||
Accrued interest receivable | 590 | 384 | 53 | 44 | 31 | 111 | 63 | 1,276 | |||||||||||||||||||||||||||
Net deferred loan origination fees and costs | 337 | -252 | -28 | -54 | 4 | -9 | 12 | 10 | |||||||||||||||||||||||||||
Recorded investment in loans | $ | 183,670 | $ | 154,028 | $ | 21,311 | $ | 16,601 | $ | 11,325 | $ | 28,550 | $ | 25,917 | $ | 441,402 | |||||||||||||||||||
Recorded Investment in Loans as Evaluated for Impairment: | |||||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 4,866 | $ | 5,705 | $ | - | $ | - | $ | - | $ | 145 | $ | 350 | $ | 11,066 | |||||||||||||||||||
Collectively evaluated for impairment | 178,298 | 148,323 | 21,311 | 16,601 | 11,325 | 28,405 | 25,535 | 429,798 | |||||||||||||||||||||||||||
Acquired with deteriorated credit quality | 506 | - | - | - | - | - | 32 | 538 | |||||||||||||||||||||||||||
Ending balance | $ | 183,670 | $ | 154,028 | $ | 21,311 | $ | 16,601 | $ | 11,325 | $ | 28,550 | $ | 25,917 | $ | 441,402 | |||||||||||||||||||
An analysis of the allowance for loan losses as of March 31, 2015 is as follows: | |||||||||||||||||||||||||||||||||||
Residential | Commercial | Land & Land | Commercial | ||||||||||||||||||||||||||||||||
Real Estate | Real Estate | Multifamily | Construction | Development | Business | Consumer | Total | ||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||
Ending Allowance Balance Attributable to Loans: | |||||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 10 | $ | 1 | $ | - | $ | - | $ | - | $ | 48 | $ | 6 | $ | 65 | |||||||||||||||||||
Collectively evaluated for impairment | 447 | 4,108 | 163 | 455 | 316 | 838 | 122 | 6,449 | |||||||||||||||||||||||||||
Acquired with deteriorated credit quality | - | - | - | - | - | - | - | - | |||||||||||||||||||||||||||
Ending balance | $ | 457 | $ | 4,109 | $ | 163 | $ | 455 | $ | 316 | $ | 886 | $ | 128 | $ | 6,514 | |||||||||||||||||||
An analysis of the allowance for loan losses as of September 30, 2014 is as follows: | |||||||||||||||||||||||||||||||||||
Residential | Commercial | Land & Land | Commercial | ||||||||||||||||||||||||||||||||
Real Estate | Real Estate | Multifamily | Construction | Development | Business | Consumer | Total | ||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||
Ending Allowance Balance Attributable to Loans: | |||||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 13 | $ | - | $ | - | $ | - | $ | - | $ | - | $ | 8 | $ | 21 | |||||||||||||||||||
Collectively evaluated for impairment | 564 | 3,808 | 146 | 443 | 302 | 795 | 171 | 6,229 | |||||||||||||||||||||||||||
Acquired with deteriorated credit quality | - | - | - | - | - | - | - | - | |||||||||||||||||||||||||||
Ending balance | $ | 577 | $ | 3,808 | $ | 146 | $ | 443 | $ | 302 | $ | 795 | $ | 179 | $ | 6,250 | |||||||||||||||||||
An analysis of the changes in the allowance for loan losses for the three months ended March 31, 2015 is as follows: | |||||||||||||||||||||||||||||||||||
Residential | Commercial | Land & Land | Commercial | ||||||||||||||||||||||||||||||||
Real Estate | Real Estate | Multifamily | Construction | Development | Business | Consumer | Total | ||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||
Changes in Allowance for Loan Losses: | |||||||||||||||||||||||||||||||||||
Beginning balance | $ | 442 | $ | 4,217 | $ | 163 | $ | 344 | $ | 299 | $ | 826 | $ | 159 | $ | 6,450 | |||||||||||||||||||
Provisions | 145 | -108 | - | 111 | 17 | 59 | -12 | 212 | |||||||||||||||||||||||||||
Charge-offs | -131 | - | - | - | - | - | -41 | -172 | |||||||||||||||||||||||||||
Recoveries | 1 | - | - | - | - | 1 | 22 | 24 | |||||||||||||||||||||||||||
Ending balance | $ | 457 | $ | 4,109 | $ | 163 | $ | 455 | $ | 316 | $ | 886 | $ | 128 | $ | 6,514 | |||||||||||||||||||
An analysis of the changes in the allowance for loan losses for the six months ended March 31, 2015 is as follows: | |||||||||||||||||||||||||||||||||||
Residential | Commercial | Land & Land | Commercial | ||||||||||||||||||||||||||||||||
Real Estate | Real Estate | Multifamily | Construction | Development | Business | Consumer | Total | ||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||
Changes in Allowance for Loan Losses: | |||||||||||||||||||||||||||||||||||
Beginning balance | $ | 577 | $ | 3,808 | $ | 146 | $ | 443 | $ | 302 | $ | 795 | $ | 179 | $ | 6,250 | |||||||||||||||||||
Provisions | -2 | 301 | 17 | 12 | 14 | 90 | -13 | 419 | |||||||||||||||||||||||||||
Charge-offs | -143 | - | - | - | - | - | -73 | -216 | |||||||||||||||||||||||||||
Recoveries | 25 | - | - | - | - | 1 | 35 | 61 | |||||||||||||||||||||||||||
Ending balance | $ | 457 | $ | 4,109 | $ | 163 | $ | 455 | $ | 316 | $ | 886 | $ | 128 | $ | 6,514 | |||||||||||||||||||
An analysis of the changes in the allowance for loan losses for the three months ended March 31, 2014 is as follows: | |||||||||||||||||||||||||||||||||||
Residential | Commercial | Land & Land | Commercial | ||||||||||||||||||||||||||||||||
Real Estate | Real Estate | Multifamily | Construction | Development | Business | Consumer | Total | ||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||
Changes in Allowance for Loan Losses: | |||||||||||||||||||||||||||||||||||
Beginning balance | $ | 660 | $ | 3,080 | $ | 253 | $ | 255 | $ | 367 | $ | 1,070 | $ | 286 | $ | 5,971 | |||||||||||||||||||
Provisions | -15 | 504 | 18 | -33 | -11 | -163 | 3 | 303 | |||||||||||||||||||||||||||
Charge-offs | -21 | -144 | - | - | - | - | -69 | -234 | |||||||||||||||||||||||||||
Recoveries | 2 | - | - | - | - | - | 18 | 20 | |||||||||||||||||||||||||||
Ending balance | $ | 626 | $ | 3,440 | $ | 271 | $ | 222 | $ | 356 | $ | 907 | $ | 238 | $ | 6,060 | |||||||||||||||||||
An analysis of the changes in the allowance for loan losses for the six months ended March 31, 2014 is as follows: | |||||||||||||||||||||||||||||||||||
Residential | Commercial | Land & Land | Commercial | ||||||||||||||||||||||||||||||||
Real Estate | Real Estate | Multifamily | Construction | Development | Business | Consumer | Total | ||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||
Changes in Allowance for Loan Losses: | |||||||||||||||||||||||||||||||||||
Beginning balance | $ | 780 | $ | 2,826 | $ | 249 | $ | 229 | $ | 299 | $ | 907 | $ | 248 | $ | 5,538 | |||||||||||||||||||
Provisions | -61 | 539 | 22 | -7 | 57 | - | 54 | 604 | |||||||||||||||||||||||||||
Charge-offs | -97 | -144 | - | - | - | - | -99 | -340 | |||||||||||||||||||||||||||
Recoveries | 4 | 219 | - | - | - | - | 35 | 258 | |||||||||||||||||||||||||||
Ending balance | $ | 626 | $ | 3,440 | $ | 271 | $ | 222 | $ | 356 | $ | 907 | $ | 238 | $ | 6,060 | |||||||||||||||||||
The following table presents impaired loans individually evaluated for impairment as of March 31, 2015 and for the three and six months ended March 31, 2015 and 2014. | |||||||||||||||||||||||||||||||||||
At March 31, 2015 | Three Months Ended March 31, | Six Months Ended March 31, | |||||||||||||||||||||||||||||||||
2015 | 2015 | 2014 | 2014 | 2015 | 2015 | 2014 | 2014 | ||||||||||||||||||||||||||||
Unpaid | Average | Interest | Average | Interest | Average | Interest | Average | Interest | |||||||||||||||||||||||||||
Recorded | Principal | Related | Recorded | Income | Recorded | Income | Recorded | Income | Recorded | Income | |||||||||||||||||||||||||
Investment | Balance | Allowance | Investment | Recognized | Investment | Recognized | Investment | Recognized | Investment | Recognized | |||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||
Loans with no related allowance recorded: | |||||||||||||||||||||||||||||||||||
Residential real estate | $ | 4,712 | $ | 5,319 | $ | - | $ | 5,685 | $ | 37 | $ | 6,023 | $ | 34 | $ | 5,729 | $ | 72 | $ | 6,166 | $ | 65 | |||||||||||||
Commercial real estate | 5,648 | 5,687 | - | 5,689 | 55 | 5,822 | 53 | 5,702 | 113 | 5,934 | 111 | ||||||||||||||||||||||||
Multifamily | - | - | - | - | - | 2,227 | 28 | - | - | 2,234 | 56 | ||||||||||||||||||||||||
Construction | - | - | - | - | - | - | - | - | - | - | - | ||||||||||||||||||||||||
Land and land development | - | - | - | - | - | - | - | - | - | - | - | ||||||||||||||||||||||||
Commercial business | 321 | 306 | - | 254 | 1 | 446 | 1 | 216 | 1 | 446 | 1 | ||||||||||||||||||||||||
Consumer | 226 | 231 | - | 238 | 1 | 298 | 1 | 248 | 3 | 310 | 3 | ||||||||||||||||||||||||
$ | 10,907 | $ | 11,543 | $ | - | $ | 11,866 | $ | 94 | $ | 14,816 | $ | 117 | $ | 11,895 | $ | 189 | $ | 15,090 | $ | 236 | ||||||||||||||
Loans with an allowance recorded: | |||||||||||||||||||||||||||||||||||
Residential real estate | $ | 75 | $ | 73 | $ | 10 | $ | 142 | $ | - | $ | 55 | $ | - | $ | 152 | $ | - | $ | 55 | $ | - | |||||||||||||
Commercial real estate | 23 | 22 | 1 | 6 | - | - | - | 3 | - | - | - | ||||||||||||||||||||||||
Multifamily | - | - | - | - | - | - | - | - | - | - | - | ||||||||||||||||||||||||
Construction | - | - | - | - | - | - | - | - | - | - | - | ||||||||||||||||||||||||
Land and land development | - | - | - | - | - | - | - | - | - | - | - | ||||||||||||||||||||||||
Commercial business | 48 | 48 | 48 | 12 | - | - | - | 7 | - | - | - | ||||||||||||||||||||||||
Consumer | 101 | 101 | 6 | 85 | - | 97 | - | 91 | - | 96 | - | ||||||||||||||||||||||||
$ | 247 | $ | 244 | $ | 65 | $ | 245 | $ | - | $ | 152 | $ | - | $ | 253 | $ | - | $ | 151 | $ | - | ||||||||||||||
Total: | |||||||||||||||||||||||||||||||||||
Residential real estate | $ | 4,787 | $ | 5,392 | $ | 10 | $ | 5,827 | $ | 37 | $ | 6,078 | $ | 34 | $ | 5,881 | $ | 72 | $ | 6,221 | $ | 65 | |||||||||||||
Commercial real estate | 5,671 | 5,709 | 1 | 5,695 | 55 | 5,822 | 53 | 5,705 | 113 | 5,934 | 111 | ||||||||||||||||||||||||
Multifamily | - | - | - | - | - | 2,227 | 28 | - | - | 2,234 | 56 | ||||||||||||||||||||||||
Construction | - | - | - | - | - | - | - | - | - | - | - | ||||||||||||||||||||||||
Land and land development | - | - | - | - | - | - | - | - | - | - | - | ||||||||||||||||||||||||
Commercial business | 369 | 354 | 48 | 266 | 1 | 446 | 1 | 223 | 1 | 446 | 1 | ||||||||||||||||||||||||
Consumer | 327 | 332 | 6 | 323 | 1 | 395 | 1 | 339 | 3 | 406 | 3 | ||||||||||||||||||||||||
$ | 11,154 | $ | 11,787 | $ | 65 | $ | 12,111 | $ | 94 | $ | 14,968 | $ | 117 | $ | 12,148 | $ | 189 | $ | 15,241 | $ | 236 | ||||||||||||||
The Company recognized $5,000 and $41,000 of interest income on an impaired commercial real estate loan using the cash receipts method during the six-month periods ended March 31, 2015 and 2014, respectively. The Company did not recognize any interest income using the cash receipts method during the three-month periods ended March 31, 2015 and 2014. | |||||||||||||||||||||||||||||||||||
The following table presents impaired loans individually evaluated for impairment as of September 30, 2014. | |||||||||||||||||||||||||||||||||||
Unpaid | |||||||||||||||||||||||||||||||||||
Recorded | Principal | Related | |||||||||||||||||||||||||||||||||
Investment | Balance | Allowance | |||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||
Loans with no related allowance recorded: | |||||||||||||||||||||||||||||||||||
Residential real estate | $ | 4,974 | $ | 5,426 | $ | - | |||||||||||||||||||||||||||||
Commercial real estate | 5,705 | 5,739 | - | ||||||||||||||||||||||||||||||||
Multifamily | - | - | - | ||||||||||||||||||||||||||||||||
Construction | - | - | - | ||||||||||||||||||||||||||||||||
Land and land development | - | - | - | ||||||||||||||||||||||||||||||||
Commercial business | 145 | 133 | - | ||||||||||||||||||||||||||||||||
Consumer | 255 | 258 | - | ||||||||||||||||||||||||||||||||
$ | 11,079 | $ | 11,556 | $ | - | ||||||||||||||||||||||||||||||
Loans with an allowance recorded: | |||||||||||||||||||||||||||||||||||
Residential real estate | $ | 167 | $ | 166 | $ | 13 | |||||||||||||||||||||||||||||
Commercial real estate | - | - | - | ||||||||||||||||||||||||||||||||
Multifamily | - | - | - | ||||||||||||||||||||||||||||||||
Construction | - | - | - | ||||||||||||||||||||||||||||||||
Land and land development | - | - | - | ||||||||||||||||||||||||||||||||
Commercial business | - | - | - | ||||||||||||||||||||||||||||||||
Consumer | 95 | 95 | 8 | ||||||||||||||||||||||||||||||||
$ | 262 | $ | 261 | $ | 21 | ||||||||||||||||||||||||||||||
Total: | |||||||||||||||||||||||||||||||||||
Residential real estate | $ | 5,141 | $ | 5,592 | $ | 13 | |||||||||||||||||||||||||||||
Commercial real estate | 5,705 | 5,739 | - | ||||||||||||||||||||||||||||||||
Multifamily | - | - | - | ||||||||||||||||||||||||||||||||
Construction | - | - | - | ||||||||||||||||||||||||||||||||
Land and land development | - | - | - | ||||||||||||||||||||||||||||||||
Commercial business | 145 | 133 | - | ||||||||||||||||||||||||||||||||
Consumer | 350 | 353 | 8 | ||||||||||||||||||||||||||||||||
$ | 11,341 | $ | 11,817 | $ | 21 | ||||||||||||||||||||||||||||||
Nonperforming loans consists of nonaccrual loans and loans over 90 days past due and still accruing interest. The following table presents the recorded investment in nonperforming loans at March 31, 2015: | |||||||||||||||||||||||||||||||||||
Loans 90+ | |||||||||||||||||||||||||||||||||||
Days | Total | ||||||||||||||||||||||||||||||||||
Nonaccrual | Past Due | Nonperforming | |||||||||||||||||||||||||||||||||
Loans | Still Accruing | Loans | |||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||
Residential real estate | $ | 1,893 | $ | 625 | $ | 2,518 | |||||||||||||||||||||||||||||
Commercial real estate | 397 | - | 397 | ||||||||||||||||||||||||||||||||
Multifamily | - | 294 | 294 | ||||||||||||||||||||||||||||||||
Construction | - | - | - | ||||||||||||||||||||||||||||||||
Land and land development | - | - | - | ||||||||||||||||||||||||||||||||
Commercial business | 350 | 106 | 456 | ||||||||||||||||||||||||||||||||
Consumer | 199 | 24 | 223 | ||||||||||||||||||||||||||||||||
Total | $ | 2,839 | $ | 1,049 | $ | 3,888 | |||||||||||||||||||||||||||||
The following table presents the recorded investment in nonperforming loans at September 30, 2014: | |||||||||||||||||||||||||||||||||||
Loans 90+ | |||||||||||||||||||||||||||||||||||
Days | Total | ||||||||||||||||||||||||||||||||||
Nonaccrual | Past Due | Nonperforming | |||||||||||||||||||||||||||||||||
Loans | Still Accruing | Loans | |||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||
Residential real estate | $ | 2,431 | $ | 458 | $ | 2,889 | |||||||||||||||||||||||||||||
Commercial real estate | 1,034 | - | 1,034 | ||||||||||||||||||||||||||||||||
Multifamily | - | - | - | ||||||||||||||||||||||||||||||||
Construction | - | - | - | ||||||||||||||||||||||||||||||||
Land and land development | - | - | - | ||||||||||||||||||||||||||||||||
Commercial business | 123 | - | 123 | ||||||||||||||||||||||||||||||||
Consumer | 216 | 20 | 236 | ||||||||||||||||||||||||||||||||
Total | $ | 3,804 | $ | 478 | $ | 4,282 | |||||||||||||||||||||||||||||
The following table presents the aging of the recorded investment in past due loans at March 31, 2015: | |||||||||||||||||||||||||||||||||||
30-59 | 60-89 | 90 + | |||||||||||||||||||||||||||||||||
Days | Days | Days | Total | Total | |||||||||||||||||||||||||||||||
Past Due | Past Due | Past Due | Past Due | Current | Loans | ||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||
Residential real estate | $ | 3,951 | $ | 197 | $ | 1,770 | $ | 5,918 | $ | 175,095 | $ | 181,013 | |||||||||||||||||||||||
Commercial real estate | 1,529 | 125 | 196 | 1,850 | 162,143 | 163,993 | |||||||||||||||||||||||||||||
Multifamily | - | - | 294 | 294 | 22,833 | 23,127 | |||||||||||||||||||||||||||||
Construction | - | - | - | - | 16,961 | 16,961 | |||||||||||||||||||||||||||||
Land and land development | 5 | - | - | 5 | 11,766 | 11,771 | |||||||||||||||||||||||||||||
Commercial business | 11 | 31 | 456 | 498 | 29,823 | 30,321 | |||||||||||||||||||||||||||||
Consumer | 116 | 24 | 61 | 201 | 25,378 | 25,579 | |||||||||||||||||||||||||||||
Total | $ | 5,612 | $ | 377 | $ | 2,777 | $ | 8,766 | $ | 443,999 | $ | 452,765 | |||||||||||||||||||||||
The following table presents the aging of the recorded investment in past due loans at September 30, 2014: | |||||||||||||||||||||||||||||||||||
30-59 | 60-89 | 90 + | |||||||||||||||||||||||||||||||||
Days | Days | Days | Total | Total | |||||||||||||||||||||||||||||||
Past Due | Past Due | Past Due | Past Due | Current | Loans | ||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||
Residential real estate | $ | 4,493 | $ | 1,639 | $ | 1,823 | $ | 7,955 | $ | 175,715 | $ | 183,670 | |||||||||||||||||||||||
Commercial real estate | 115 | 54 | 59 | 228 | 153,800 | 154,028 | |||||||||||||||||||||||||||||
Multifamily | 297 | - | - | 297 | 21,014 | 21,311 | |||||||||||||||||||||||||||||
Construction | - | - | - | - | 16,601 | 16,601 | |||||||||||||||||||||||||||||
Land and land development | 6 | 205 | - | 211 | 11,114 | 11,325 | |||||||||||||||||||||||||||||
Commercial business | 259 | - | 123 | 382 | 28,168 | 28,550 | |||||||||||||||||||||||||||||
Consumer | 39 | 79 | 72 | 190 | 25,727 | 25,917 | |||||||||||||||||||||||||||||
Total | $ | 5,209 | $ | 1,977 | $ | 2,077 | $ | 9,263 | $ | 432,139 | $ | 441,402 | |||||||||||||||||||||||
The Company categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt such as: current financial information, public information, historical payment experience, credit documentation, and current economic conditions and trends, among other factors. The Company classifies loans based on credit risk at least quarterly. The Company uses the following regulatory definitions for risk ratings: | |||||||||||||||||||||||||||||||||||
Special Mention: Loans classified as special mention have a potential weakness that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of the Company’s credit position at some future date. | |||||||||||||||||||||||||||||||||||
Substandard: Loans classified as substandard are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the Company will sustain some loss if the deficiencies are not corrected. | |||||||||||||||||||||||||||||||||||
Doubtful: Loans classified as doubtful have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. | |||||||||||||||||||||||||||||||||||
Loss: Loans classified as loss are considered uncollectible and of such little value that their continuance on the Company’s books as an asset is not warranted. | |||||||||||||||||||||||||||||||||||
Loans not meeting the criteria above that are analyzed individually as part of the above described process are considered to be pass-rated loans. As of March 31, 2015, and based on the most recent analysis performed, the recorded investment in loans by risk category was as follows: | |||||||||||||||||||||||||||||||||||
Residential | Commercial | Land and Land | Commercial | ||||||||||||||||||||||||||||||||
Real Estate | Real Estate | Multifamily | Construction | Development | Business | Consumer | Total | ||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||
Pass | $ | 170,437 | $ | 145,326 | $ | 23,127 | $ | 16,961 | $ | 11,670 | $ | 29,738 | $ | 25,152 | $ | 422,411 | |||||||||||||||||||
Special Mention | 4,436 | 13,733 | - | - | 5 | 211 | 77 | 18,462 | |||||||||||||||||||||||||||
Substandard | 5,942 | 4,934 | - | - | 96 | 372 | 344 | 11,688 | |||||||||||||||||||||||||||
Doubtful | 198 | - | - | - | - | - | 6 | 204 | |||||||||||||||||||||||||||
Loss | - | - | - | - | - | - | - | - | |||||||||||||||||||||||||||
Total | $ | 181,013 | $ | 163,993 | $ | 23,127 | $ | 16,961 | $ | 11,771 | $ | 30,321 | $ | 25,579 | $ | 452,765 | |||||||||||||||||||
As of September 30, 2014, the recorded investment in loans by risk category was as follows: | |||||||||||||||||||||||||||||||||||
Residential | Commercial | Land and Land | Commercial | ||||||||||||||||||||||||||||||||
Real Estate | Real Estate | Multifamily | Construction | Development | Business | Consumer | Total | ||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||
Pass | $ | 172,822 | $ | 138,854 | $ | 21,311 | $ | 16,601 | $ | 11,206 | $ | 28,127 | $ | 25,471 | $ | 414,392 | |||||||||||||||||||
Special Mention | 4,233 | 10,226 | - | - | 6 | 278 | 89 | 14,832 | |||||||||||||||||||||||||||
Substandard | 6,398 | 4,948 | - | - | 113 | 145 | 350 | 11,954 | |||||||||||||||||||||||||||
Doubtful | 217 | - | - | - | - | - | 7 | 224 | |||||||||||||||||||||||||||
Loss | - | - | - | - | - | - | - | - | |||||||||||||||||||||||||||
Total | $ | 183,670 | $ | 154,028 | $ | 21,311 | $ | 16,601 | $ | 11,325 | $ | 28,550 | $ | 25,917 | $ | 441,402 | |||||||||||||||||||
Troubled Debt Restructurings | |||||||||||||||||||||||||||||||||||
Modification of a loan is considered to be a troubled debt restructuring (“TDR”) if the debtor is experiencing financial difficulties and the Company grants a concession to the debtor that it would not otherwise consider. By granting the concession, the Company expects to obtain more cash or other value from the debtor, or to increase the probability of receipt, than would be expected by not granting the concession. The concession may include, but is not limited to, reduction of the stated interest rate of the loan, reduction of accrued interest, extension of the maturity date or reduction of the face amount or maturity amount of the debt. A concession will be granted when, as a result of the restructuring, the Company does not expect to collect all amounts due, including interest at the original stated rate. A concession may also be granted if the debtor is not able to access funds elsewhere at a market rate for debt with similar risk characteristics as the restructured debt. The Company’s determination of whether a loan modification is a TDR considers the individual facts and circumstances surrounding each modification. | |||||||||||||||||||||||||||||||||||
Loans modified in a TDR may be retained on accrual status if the borrower has maintained a period of performance in which the borrower’s lending relationship was not greater than ninety days delinquent at the time of restructuring and the Company determines the future collection of principal and interest is reasonably assured. Loans modified in a TDR that are placed on nonaccrual status at the time of restructuring will continue on nonaccrual status until the Company determines the future collection of principal and interest is reasonably assured, which generally requires that the borrower demonstrate a period of performance according to the restructured terms of at least six consecutive months. | |||||||||||||||||||||||||||||||||||
The following table summarizes the Company’s recorded investment in TDRs at March 31, 2015 and September 30, 2014. There was no specific reserve included in the allowance for loan losses related to TDRs at March 31, 2015 and September 30, 2014. | |||||||||||||||||||||||||||||||||||
Accruing | Nonaccrual | Total | |||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||
March 31, 2015: | |||||||||||||||||||||||||||||||||||
Residential real estate | $ | 2,894 | $ | 147 | $ | 3,041 | |||||||||||||||||||||||||||||
Commercial real estate | 5,274 | - | 5,274 | ||||||||||||||||||||||||||||||||
Commercial business | 19 | - | 19 | ||||||||||||||||||||||||||||||||
Consumer | 128 | - | 128 | ||||||||||||||||||||||||||||||||
Total | $ | 8,315 | $ | 147 | $ | 8,462 | |||||||||||||||||||||||||||||
September 30, 2014: | |||||||||||||||||||||||||||||||||||
Residential real estate | $ | 2,710 | $ | 214 | $ | 2,924 | |||||||||||||||||||||||||||||
Commercial real estate | 4,671 | 696 | 5,367 | ||||||||||||||||||||||||||||||||
Commercial business | 22 | - | 22 | ||||||||||||||||||||||||||||||||
Consumer | 134 | - | 134 | ||||||||||||||||||||||||||||||||
Total | $ | 7,537 | $ | 910 | $ | 8,447 | |||||||||||||||||||||||||||||
The following table summarizes information in regard to TDRs that were restructured during the three- and six-month periods ended March 31, 2015 and 2014: | |||||||||||||||||||||||||||||||||||
Pre- | Post- | ||||||||||||||||||||||||||||||||||
Modification | Modification | ||||||||||||||||||||||||||||||||||
Number of | Principal | Principal | |||||||||||||||||||||||||||||||||
Loans | Balance | Balance | |||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||
March 31, 2015: | |||||||||||||||||||||||||||||||||||
Six Months Ended March 31, 2015: | |||||||||||||||||||||||||||||||||||
Residential real estate | 2 | $ | 165 | $ | 172 | ||||||||||||||||||||||||||||||
Total | 2 | $ | 165 | $ | 172 | ||||||||||||||||||||||||||||||
March 31, 2014: | |||||||||||||||||||||||||||||||||||
Three Months Ended March 31, 2014: | |||||||||||||||||||||||||||||||||||
Residential real estate | 1 | $ | 42 | $ | 42 | ||||||||||||||||||||||||||||||
Total | 1 | $ | 42 | $ | 42 | ||||||||||||||||||||||||||||||
Six Months Ended March 31, 2014: | |||||||||||||||||||||||||||||||||||
Residential real estate | 3 | $ | 139 | $ | 159 | ||||||||||||||||||||||||||||||
Commercial real estate | 1 | 716 | 724 | ||||||||||||||||||||||||||||||||
Total | 4 | $ | 855 | $ | 883 | ||||||||||||||||||||||||||||||
There were no loans modified in a TDR during the three months ended March 31, 2015. | |||||||||||||||||||||||||||||||||||
For the TDRs listed above, the terms of modification included reduction of the stated interest rate and extension of the maturity date where the debtor was unable to access funds elsewhere at a market interest rate for debt with similar risk characteristics. | |||||||||||||||||||||||||||||||||||
The Company had not committed to lend any additional amounts as of March 31, 2015 and September 30, 2014 to customers with outstanding loans classified as TDRs at such dates. | |||||||||||||||||||||||||||||||||||
There were no principal charge-offs recorded as a result of TDRs during the six-month periods ended March 31, 2015 and 2014. There was no specific allowance for loan losses related to TDRs modified during the six-month periods ended March 31, 2015 and 2014. In the event that a TDR subsequently defaults, the Company evaluates the restructuring for possible impairment. As a result, the related allowance for loan losses may be increased or charge-offs may be taken to reduce the carrying amount of the loan. | |||||||||||||||||||||||||||||||||||
During the six-month period ended March 31, 2015, the Company did not have any TDRs that were modified within the previous twelve months and for which there was a payment default (defined as more than 90 days past due or in the process of foreclosure). During the six-month period ended March 31, 2014, the Company had two TDRs totaling $489,000 that was modified within the previous twelve months and for which there were a payment default. No charge-offs were recognized for TDRs with subsequent payment defaults for the six-month periods ended March 31, 2015 and 2014. | |||||||||||||||||||||||||||||||||||
Real_Estate_Development_and_Co
Real Estate Development and Construction | 6 Months Ended | |
Mar. 31, 2015 | ||
Real Estate [Abstract] | ||
Real Estate Development and Construction | 4 | Real Estate Development and Construction |
The Company is developing a parcel of land in New Albany, Indiana for retail purposes through the Bank’s subsidiary, FFCC. The total cost of the development is expected to be approximately $7.7 million, including the $7.5 million paid as of March 31, 2015. The development costs were partially funded by a loan from another financial institution. The development is substantially completed, with only certain tenant improvements in a multi-tenant retail building to be completed for current and future lessees, and nine tenants have commenced occupancy as of March 31, 2015. The development plans provide for up to twelve tenants when fully occupied. | ||
Depreciation expense of $49,000 and $98,000 was recognized for real estate development and construction for the three- and six-month periods ended March 31, 2015, respectively. Depreciation expense of $47,000 and $94,000 was recognized for real estate development and construction for the three- and six-month periods ended March 31, 2014, respectively. | ||
As a result of the Bank’s conversion to an Indiana-chartered commercial bank and entry in the Federal Reserve System on December 19, 2014, the Company is required under federal regulations to divest of its commercial real estate development by December 19, 2016 but may apply to the Federal Reserve System for extension of the conformance period for up to three additional years, in three one-year increments. The Company is required under Indiana statute to divest of its commercial real estate development within a ten-year period, or prior to December 19, 2024. In connection with its charter conversion, the Bank has committed under a plan of divestiture filed with the Indiana Department of Financial Institutions to divest of the commercial real estate development prior to December 31, 2017, which may require approval from the Federal Reserve System for extension of the federal conformance period beyond December 19, 2016. | ||
Investment_in_Historic_Tax_Cre
Investment in Historic Tax Credit Entity | 6 Months Ended | |
Mar. 31, 2015 | ||
Investment Contract [Abstract] | ||
Investment in Historic Tax Credit Entity | 5 | Investment in Historic Tax Credit Entity |
On October 15, 2014, the Company entered into an agreement to participate in the rehabilitation of a certified historic structure located in Louisville, Kentucky with a regional commercial developer. As part of the agreement, the Bank committed to invest $4.2 million into a limited liability company organized in the state of Kentucky by the commercial developer, for which it received a 99% equity interest in the entity and will receive an allocation of 99% of the operating profit and losses and any historic tax credits generated by the entity. The tax credits expected to be allocated to the Bank include federal rehabilitation investment credits totaling $4.6 million available under Internal Revenue Code Section 47. The Bank invested $417,000 on October 15, 2014 and has committed to invest an additional $417,000 when the project is 50% completed and the remaining $3.3 million when the project is fully completed and the certificate of occupancy is received. The project is expected to be fully completed in December 2015. | ||
The Bank’s investment in the historic tax credit entity is accounted for under the equity method of accounting. At March 31, 2015, the Bank’s investment of $4.2 million was included in other assets and its unfunded capital contribution commitment of $3.8 million was included in other liabilities in the accompanying consolidated balance sheet. | ||
Supplemental_Disclosure_for_Ea
Supplemental Disclosure for Earnings Per Share | 6 Months Ended | |||||||||||||
Mar. 31, 2015 | ||||||||||||||
Earnings Per Share [Abstract] | ||||||||||||||
Supplemental Disclosure for Earnings Per Share | 5 | Supplemental Disclosure for Earnings Per Share | ||||||||||||
When presented, basic earnings per share are computed by dividing income available to common stockholders by the weighted average number of common shares outstanding for the period. Diluted earnings per share reflect the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the earnings of the entity. Earnings per share information is presented below for the three- and six-month periods ended March 31, 2015 and 2014. | ||||||||||||||
Three Months Ended | Six Months Ended | |||||||||||||
March 31, | March 31, | |||||||||||||
2015 | 2014 | 2015 | 2014 | |||||||||||
(Dollars in thousands, except per share data) | ||||||||||||||
Basic: | ||||||||||||||
Earnings: | ||||||||||||||
Net income | $ | 1,527 | $ | 1,536 | $ | 2,727 | $ | 2,564 | ||||||
Less: Preferred stock dividends declared | -43 | -43 | -86 | -86 | ||||||||||
Net income available to common shareholders | $ | 1,484 | $ | 1,493 | $ | 2,641 | $ | 2,478 | ||||||
Shares: | ||||||||||||||
Weighted average common shares outstanding | 2,138,931 | 2,140,414 | 2,125,369 | 2,149,426 | ||||||||||
Net income per common share, basic | $ | 0.69 | $ | 0.7 | $ | 1.24 | $ | 1.15 | ||||||
Diluted: | ||||||||||||||
Earnings: | ||||||||||||||
Net income | $ | 1,527 | $ | 1,536 | $ | 2,727 | $ | 2,564 | ||||||
Less: Preferred stock dividends declared | -43 | -43 | -86 | -86 | ||||||||||
Net income available to common shareholders | $ | 1,484 | $ | 1,493 | $ | 2,641 | $ | 2,478 | ||||||
Shares: | ||||||||||||||
Weighted average common shares outstanding | 2,138,931 | 2,140,414 | 2,125,369 | 2,149,426 | ||||||||||
Add: Dilutive effect of outstanding options | 96,436 | 93,337 | 96,967 | 91,359 | ||||||||||
Add: Dilutive effect of restricted stock | 10,004 | 15,210 | 9,238 | 14,214 | ||||||||||
Weighted average common shares outstanding as adjusted | 2,245,371 | 2,248,961 | 2,231,574 | 2,254,999 | ||||||||||
Net income per common share, diluted | $ | 0.66 | $ | 0.66 | $ | 1.18 | $ | 1.1 | ||||||
Unearned ESOP and nonvested restricted stock shares are not considered as outstanding for purposes of computing weighted average common shares outstanding. | ||||||||||||||
Supplemental_Disclosures_of_Ca
Supplemental Disclosures of Cash Flow Information | 6 Months Ended | |||||||
Mar. 31, 2015 | ||||||||
Supplemental Cash Flow Elements [Abstract] | ||||||||
Supplemental Disclosures of Cash Flow Information | 7 | Supplemental Disclosures of Cash Flow Information | ||||||
Six Months Ended | ||||||||
March 31, | ||||||||
2015 | 2014 | |||||||
(In thousands) | ||||||||
Cash payments for: | ||||||||
Interest | $ | 1,953 | $ | 1,945 | ||||
Taxes | 864 | 620 | ||||||
Transfers from loans to foreclosed real estate | 398 | 776 | ||||||
Proceeds from sales of foreclosed real estate financed through loans | 290 | 496 | ||||||
Fair_Value_Measurements_and_Di
Fair Value Measurements and Disclosures about Fair Value of Financial Instruments | 6 Months Ended | |||||||||||||
Mar. 31, 2015 | ||||||||||||||
Fair Value Disclosures [Abstract] | ||||||||||||||
Fair Value Measurements and Disclosures about Fair Value of Financial Instruments | 8 | Fair Value Measurements and Disclosures about Fair Value of Financial Instruments | ||||||||||||
Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 820, Fair Value Measurements, provides the framework for measuring fair value. That framework provides a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy under FASB ASC Topic 820 are described as follows: | ||||||||||||||
Level 1: | Inputs to the valuation methodology are quoted prices, unadjusted, for identical assets or liabilities in active markets. A quoted market price in an active market provides the most reliable evidence of fair value and shall be used to measure fair value whenever available. | |||||||||||||
Level 2: | Inputs to the valuation methodology include quoted market prices for similar assets or liabilities in active markets; quoted market prices for identical or similar assets or liabilities in markets that are not active; or inputs that are derived principally from or can be corroborated by observable market data by correlation or other means. | |||||||||||||
Level 3: | Inputs to the valuation methodology are unobservable and significant to the fair value measurement. Level 3 assets and liabilities include financial instruments whose value is determined using discounted cash flow methodologies, as well as instruments for which the determination of fair value requires significant management judgment or estimation. | |||||||||||||
A description of the valuation methodologies used for instruments measured at fair value, as well as the general classification of such instruments pursuant to the valuation hierarchy, is set forth below. These valuation methodologies were applied to all of the Company’s financial assets carried at fair value or the lower of cost or fair value. The tables below present the balances of financial assets measured at fair value on a recurring and nonrecurring basis as of March 31, 2015 and September 30, 2014. The Company had no liabilities measured at fair value as of March 31, 2015 or September 30, 2014. | ||||||||||||||
Carrying Value | ||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||
(In thousands) | ||||||||||||||
March 31, 2015: | ||||||||||||||
Assets Measured - Recurring Basis: | ||||||||||||||
Trading account securities | $ | - | $ | 5,229 | $ | - | $ | 5,229 | ||||||
Securities available for sale: | ||||||||||||||
Agency bonds and notes | $ | - | $ | 9,101 | $ | - | $ | 9,101 | ||||||
Agency mortgage-backed | - | 49,496 | - | 49,496 | ||||||||||
Agency CMO | - | 24,764 | - | 24,764 | ||||||||||
Privately-issued CMO | - | 3,712 | - | 3,712 | ||||||||||
Privately-issued ABS | - | 6,780 | - | 6,780 | ||||||||||
SBA certificates | - | 1,631 | - | 1,631 | ||||||||||
Municipal | - | 87,891 | - | 87,891 | ||||||||||
Total securities available for sale | $ | - | $ | 183,375 | $ | - | $ | 183,375 | ||||||
Assets Measured - Nonrecurring Basis: | ||||||||||||||
Impaired loans: | ||||||||||||||
Residential real estate | $ | - | $ | - | $ | 4,777 | $ | 4,777 | ||||||
Commercial real estate | - | - | 5,670 | 5,670 | ||||||||||
Commercial business | - | - | 321 | 321 | ||||||||||
Consumer | - | - | 321 | 321 | ||||||||||
Total impaired loans | $ | - | $ | - | $ | 11,089 | $ | 11,089 | ||||||
Loans held for sale | $ | - | $ | 320 | $ | - | $ | 320 | ||||||
Other real estate owned, held for sale: | ||||||||||||||
Residential real estate | $ | - | $ | - | $ | 394 | $ | 394 | ||||||
Commercial real estate | - | - | 100 | 100 | ||||||||||
Land and land development | - | - | 58 | 58 | ||||||||||
Total other real estate owned | $ | - | $ | - | $ | 552 | $ | 552 | ||||||
Carrying Value | ||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||
(In thousands) | ||||||||||||||
September 30, 2014: | ||||||||||||||
Assets Measured - Recurring Basis: | ||||||||||||||
Trading account securities | $ | - | $ | 5,319 | $ | - | $ | 5,319 | ||||||
Securities available for sale: | ||||||||||||||
Agency bonds and notes | $ | - | $ | 12,091 | $ | - | $ | 12,091 | ||||||
Agency mortgage-backed | - | 52,255 | - | 52,255 | ||||||||||
Agency CMO | - | 29,484 | - | 29,484 | ||||||||||
Privately-issued CMO | - | 3,920 | - | 3,920 | ||||||||||
Privately-issued ABS | - | 7,353 | - | 7,353 | ||||||||||
SBA certificates | - | 1,762 | 1,762 | |||||||||||
Municipal | - | 77,832 | - | 77,832 | ||||||||||
Total securities available for sale | $ | - | $ | 184,697 | $ | - | $ | 184,697 | ||||||
Interest rate cap contract | $ | - | $ | 1 | $ | - | $ | 1 | ||||||
Assets Measured - Nonrecurring Basis: | ||||||||||||||
Impaired loans: | ||||||||||||||
Residential real estate | $ | - | $ | - | $ | 5,128 | $ | 5,128 | ||||||
Commercial real estate | - | - | 5,705 | 5,705 | ||||||||||
Commercial business | - | - | 145 | 145 | ||||||||||
Consumer | - | - | 342 | 342 | ||||||||||
Total impaired loans | $ | - | $ | - | $ | 11,320 | $ | 11,320 | ||||||
Loans held for sale | $ | - | $ | 281 | $ | - | $ | 281 | ||||||
Other real estate owned, held for sale: | ||||||||||||||
Residential real estate | $ | - | $ | - | $ | 518 | $ | 518 | ||||||
Commercial real estate | - | - | 377 | 377 | ||||||||||
Land and land development | - | - | 58 | 58 | ||||||||||
Total other real estate owned | $ | - | $ | - | $ | 953 | $ | 953 | ||||||
Fair value is based upon quoted market prices where available. If quoted market prices are not available, fair value is based on internally developed models or obtained from third parties that primarily use, as inputs, observable market-based parameters or a matrix pricing model that employs the Bond Market Association’s standard calculations for cash flow and price/yield analysis and observable market-based parameters. Valuation adjustments may be made to ensure that financial instruments are recorded at fair value, or the lower of cost or fair value. These adjustments may include unobservable parameters. Any such valuation adjustments have been applied consistently over time. | ||||||||||||||
The Company’s valuation methodologies may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. While management believes the Company’s valuation methodologies are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different estimate of fair value at the reporting date. There were no changes in the valuation techniques and related inputs used for assets measured at fair value during the six-month period ended March 31, 2015. | ||||||||||||||
Trading Account Securities and Securities Available for Sale. Securities classified as trading and available for sale are reported at fair value on a recurring basis. These securities are classified as Level 1 of the valuation hierarchy where quoted market prices from reputable third-party brokers are available in an active market. If quoted market prices are not available, the Company obtains fair value measurements from an independent pricing service. These securities are reported using Level 2 inputs and the fair value measurements consider observable data that may include dealer quotes, market spreads, cash flows, U.S. government and agency yield curves, live trading levels, trade execution data, market consensus prepayment speeds, credit information, and the security’s terms and conditions, among other factors. Changes in fair value of trading account securities are reported in noninterest income. Changes in fair value of securities available for sale are recorded in other comprehensive income, net of income tax effect. | ||||||||||||||
Derivative Financial Instruments. Derivative financial instruments consist of an interest rate cap contract. As such, significant fair value inputs can generally be verified by counterparties and do not involve significant management judgments (Level 2 inputs). | ||||||||||||||
Impaired Loans. Impaired loans are reviewed and evaluated on at least a quarterly basis for additional impairment and adjusted accordingly. The fair value of impaired loans is classified as Level 3 in the fair value hierarchy. | ||||||||||||||
Impaired loans are measured at the present value of estimated future cash flows using the loan's effective interest rate or the fair value of the collateral if the loan is a collateral-dependent loan. Collateral may be real estate and/or business assets, including equipment, inventory and/or accounts receivable, and its fair value is generally determined based on real estate appraisals or other independent evaluations by qualified professionals. The appraisals are generally then discounted by management in order to reflect management’s estimate of the fair value of the collateral given the current market conditions and the condition of the collateral. At March 31, 2015 and September 30, 2014, the significant unobservable inputs used in the fair value measurement of impaired loans included a discount from appraised value ranging from 0.0% to 15.0% and estimated costs to sell the collateral ranging from 0.0% to 6.0%. During the three-month period ended March 31, 2015, the Company recognized provisions for loan losses of $49,000 for impaired loans. No provision for loan losses was recognized for the three-month period ended March 31, 2014 for impaired loans. During the six-month periods ended March 31, 2015 and 2014, the Company recognized provisions for loan losses of $49,000 and $2,000, respectively, for impaired loans. | ||||||||||||||
Loans Held for Sale. Loans held for sale are carried at the lower of cost or market value. The portfolio is comprised of residential real estate loans and fair value is based on specific prices of underlying contracts for sales to investors. The fair value of loans held for sale is classified as Level 2 in the fair value hierarchy. | ||||||||||||||
Other Real Estate Owned. Other real estate owned held for sale is reviewed and evaluated on at least a quarterly basis for additional impairment and adjusted accordingly. The fair value of other real estate owned is classified as Level 3 in the fair value hierarchy. | ||||||||||||||
Other real estate owned is reported at fair value less estimated costs to dispose of the property. The fair values are determined by real estate appraisals which are then generally discounted by management in order to reflect management’s estimate of the fair value of the property given current market conditions and the condition of the property. At March 31, 2015, the significant unobservable inputs used in the fair value measurement of other real estate owned included a discount from appraised value ranging from 15.0% to 56.5% with a weighted average of 23.2%. At September 30, 2014, the significant unobservable inputs used in the fair value measurement of other real estate owned included a discount from appraised value ranging from 13.3% to 50.0% with a weighted average of 18.7%. The Company recognized charges of $3,000 and $33,000 to write down other real estate owned to fair value for the three and six months ended March 31, 2015, respectively. The Company recognized charges of $65,000 and $102,000 to write down other real estate owned to fair value for the three and six months ended March 31, 2014, respectively. | ||||||||||||||
Transfers Between Categories. There were no transfers into or out of Level 3 financial assets for the six-month periods ended March 31, 2015 and 2014. In addition, there were no transfers into or out of Levels 1 and 2 of the fair value hierarchy during the six-month periods ended March 31, 2015 and 2014. | ||||||||||||||
GAAP requires disclosure of fair value information about financial instruments for interim reporting periods, whether or not recognized in the consolidated balance sheet. In cases where quoted market prices are not available, fair values are based on estimates using present value or other valuation techniques. Those techniques are significantly affected by the assumptions used, including the discount rate and estimates of future cash flows. In that regard, the derived fair value estimates cannot be substantiated by comparison to independent markets and, in many cases, could not be realized in immediate settlement of the instruments. Accordingly, the aggregate fair value amounts presented do not represent the underlying value of the Company. The carrying amounts and estimated fair values of the Company's financial instruments are as follows: | ||||||||||||||
Carrying | Fair Value Measurements Using: | |||||||||||||
March 31, 2015: | Amount | Level 1 | Level 2 | Level 3 | ||||||||||
(In thousands) | ||||||||||||||
Financial assets: | ||||||||||||||
Cash and due from banks | $ | 9,875 | $ | 9,875 | $ | - | $ | - | ||||||
Interest-bearing deposits with banks | 10,322 | 10,322 | - | - | ||||||||||
Interest-bearing time deposits | 2,235 | - | 2,239 | - | ||||||||||
Trading account securities | 5,229 | - | 5,229 | - | ||||||||||
Securities available for sale | 183,375 | - | 183,375 | - | ||||||||||
Securities held to maturity | 5,012 | - | 5,693 | - | ||||||||||
Loans, net | 445,024 | - | - | 444,998 | ||||||||||
Loans held for sale | 320 | - | 320 | - | ||||||||||
FRB and FHLB stock | 7,462 | - | 7,462 | - | ||||||||||
Accrued interest receivable | 2,510 | - | 2,510 | - | ||||||||||
Investment in historic tax credit entity (included in other assets) | 4,169 | - | 4,169 | - | ||||||||||
Financial liabilities: | ||||||||||||||
Deposits | 536,937 | - | - | 540,128 | ||||||||||
Short-term repurchase agreements | 1,340 | - | 1,340 | - | ||||||||||
Borrowings from FHLB | 81,554 | - | 83,260 | - | ||||||||||
Other long-term debt | 4,724 | - | 4,724 | - | ||||||||||
Accrued interest payable | 179 | - | 179 | - | ||||||||||
Advance payments by borrowers for taxes and insurance | 747 | - | 747 | - | ||||||||||
Carrying | Fair Value Measurements Using: | |||||||||||||
September 30, 2014: | Amount | Level 1 | Level 2 | Level 3 | ||||||||||
(In thousands) | ||||||||||||||
Financial assets: | ||||||||||||||
Cash and due from banks | $ | 8,853 | $ | 8,853 | $ | - | $ | - | ||||||
Interest-bearing deposits with banks | 11,477 | 11,477 | - | - | ||||||||||
Interest-bearing time deposits | 1,500 | - | 1,496 | - | ||||||||||
Trading account securities | 5,319 | - | 5,319 | - | ||||||||||
Securities available for sale | 184,697 | - | 184,697 | - | ||||||||||
Securities held to maturity | 5,419 | - | 5,849 | - | ||||||||||
Loans, net | 433,876 | - | - | 434,023 | ||||||||||
Loans held for sale | 281 | - | 281 | - | ||||||||||
FHLB stock | 6,517 | - | 6,517 | - | ||||||||||
Accrued interest receivable | 2,511 | - | 2,511 | - | ||||||||||
Interest rate cap (included in other assets) | 1 | - | 1 | - | ||||||||||
Financial liabilities: | ||||||||||||||
Deposits | 533,194 | - | - | 535,364 | ||||||||||
Short-term repurchase agreements | 1,338 | - | 1,338 | - | ||||||||||
Borrowings from FHLB | 79,548 | - | 79,455 | - | ||||||||||
Other long-term debt | 4,812 | - | 4,812 | - | ||||||||||
Accrued interest payable | 175 | - | 175 | - | ||||||||||
Advance payments by borrowers for taxes and insurance | 748 | - | 748 | - | ||||||||||
The carrying amounts in the preceding tables are included in the consolidated balance sheets under the applicable captions. The following methods and assumptions were used to estimate the fair value of each class of financial instrument for which it is practicable to estimate that value: | ||||||||||||||
Cash and Cash Equivalents | ||||||||||||||
For cash and short-term instruments, including cash and due from banks and interest-bearing deposits with banks, the carrying amount is a reasonable estimate of fair value. | ||||||||||||||
Investment Securities and Interest-Bearing Time Deposits | ||||||||||||||
For debt securities and interest-bearing time deposits, the Company obtains fair value measurements from an independent pricing service and the fair value measurements consider observable data that may include dealer quotes, market spreads, cash flows, U.S. government and agency yield curves, live trading levels, trade execution data, market consensus prepayment speeds, credit information, and the security’s terms and conditions, among other factors. For FRB and FHLB stock, which are restricted equity securities, the carrying amount is a reasonable estimate of fair value because they are not marketable. | ||||||||||||||
Loans | ||||||||||||||
The fair value of loans, excluding loans held for sale, is estimated by discounting the future cash flows using the current rates at which similar loans would be made to borrowers with similar credit ratings and terms. Impaired loans are valued at the lower of their carrying value or fair value, as previously described. The carrying amount of accrued interest receivable approximates its fair value. | ||||||||||||||
The fair value of loans held for sale is estimated based on specific prices of underlying contracts for sales to investors, as previously described. | ||||||||||||||
Deposits | ||||||||||||||
The fair value of demand and savings deposits and other transaction accounts is the amount payable on demand at the balance sheet date. The fair value of fixed-maturity time deposits is estimated by discounting the future cash flows using the rates currently offered for deposits with similar remaining maturities. The carrying amount of accrued interest payable approximates its fair value. | ||||||||||||||
Borrowed Funds | ||||||||||||||
Borrowed funds include borrowings from the FHLB, repurchase agreements and other long-term debt. Fair value for FHLB advances and long-term repurchase agreements is estimated by discounting the future cash flows at current interest rates for FHLB advances of similar maturities. For short-term repurchase agreements, FHLB line of credit borrowings and other debt, the carrying value is a reasonable estimate of fair value. | ||||||||||||||
Employee_Stock_Ownership_Plan
Employee Stock Ownership Plan | 6 Months Ended | |||||||
Mar. 31, 2015 | ||||||||
Employee Stock Ownership Plan (Esop), Shares In Esop [Abstract] | ||||||||
Employee Stock Ownership Plan | 9 | Employee Stock Ownership Plan | ||||||
On October 6, 2008, the Company established a leveraged employee stock ownership plan (“ESOP”) covering substantially all employees. The ESOP trust acquired 203,363 shares of Company common stock at a cost of $10.00 per share financed by a term loan with the Company. The employer loan and the related interest income are not recognized in the consolidated financial statements because the debt is serviced from Company contributions. Dividends payable on allocated shares are charged to retained earnings and are satisfied by the allocation of cash dividends to participant accounts or by utilizing the dividends as additional debt service on the ESOP loan. Dividends payable on unallocated shares are not considered dividends for financial reporting purposes. Shares held by the ESOP trust are allocated to participant accounts based on the ratio of the current year principal and interest payments to the total of the current year and future years’ principal and interest to be paid on the employer loan. Compensation expense is recognized based on the average fair value of shares released for allocation to participant accounts during the year with a corresponding credit to stockholders’ equity. Compensation expense recognized for the three- and six-month periods ended March 31, 2015 amounted to $113,000 and $600,000, respectively. Compensation expense recognized for the three- and six-month periods ended March 31, 2014 amounted to $93,000 and $521,000, respectively. Company common stock held by the ESOP trust at March 31, 2015 and September 30, 2014 was as follows: | ||||||||
March 31, | September 30, | |||||||
2015 | 2014 | |||||||
Allocated shares | 157,972 | 132,339 | ||||||
Unearned shares | 28,073 | 53,706 | ||||||
Total ESOP shares | 186,045 | 186,045 | ||||||
Fair value of unearned shares | $ | 813,000 | $ | 1,341,000 | ||||
Stock_Based_Compensation_Plans
Stock Based Compensation Plans | 6 Months Ended | |||||||||||||
Mar. 31, 2015 | ||||||||||||||
Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract] | ||||||||||||||
Stock Based Compensation Plans | 10 | Stock Based Compensation Plans | ||||||||||||
The Company’s 2010 Equity Incentive Plan (“Plan”), which the Company’s shareholders approved in February 2010, provides for the award of stock options, restricted shares and performance shares. The aggregate number of shares of the Company’s common stock available for issuance under the Plan may not exceed 355,885 shares. The Company may grant both non-statutory and statutory (i.e., incentive) stock options that may not have a term exceeding ten years. An award of a performance share is a grant of a right to receive shares of the Company’s common stock contingent upon the achievement of specific performance criteria or other objectives set at the grant date. Awards granted under the Plan may be granted either alone, in addition to, or in tandem with any other award granted under the Plan. The terms of the Plan include a provision whereby all unearned options and shares become immediately exercisable and fully vested upon a change in control. | ||||||||||||||
In April 2010, the Company funded a trust, administered by an independent trustee, which acquired 101,681 common shares in the open market at a price per share of $13.60 for a total cost of $1.4 million. These acquired common shares were later granted to directors, officers and key employees in the form of restricted stock in May 2010 at a price per share of $13.25 for a total of $1.3 million. The difference between the purchase price and grant price of the common shares issued as restricted stock, totaling $41,000, was recognized by the Company as a reduction of additional paid in capital. The restricted stock vests ratably over a five-year period from the grant date. Compensation expense is measured based on the fair market value of the restricted stock at the grant date and is recognized ratably over the period during which the shares are earned (the vesting period). Compensation expense related to restricted stock recognized for the three- and six-month periods ended March 31, 2015 amounted to $63,000 and $131,000, respectively. Compensation expense related to restricted stock recognized for the three- and six-month periods ended March 31, 2014 amounted to $65,000 and $130,000, respectively. A summary of the Company’s nonvested restricted shares activity under the Plan as of March 31, 2015 and changes during the six-month period then ended is presented below. | ||||||||||||||
Weighted | ||||||||||||||
Number | Average | |||||||||||||
of | Grant Date | |||||||||||||
Shares | Fair Value | |||||||||||||
Nonvested at October 1, 2014 | 19,610 | $ | 13.25 | |||||||||||
Granted | - | - | ||||||||||||
Vested | -717 | $ | 13.25 | |||||||||||
Forfeited | - | - | ||||||||||||
Nonvested at March 31, 2015 | 18,893 | $ | 13.25 | |||||||||||
There were 717 restricted shares that vested during the six-month period ended March 31, 2015, upon the retirement of a director. The total fair value of restricted shares that vested during the six-month period ended March 31, 2015 was $18,000. There were no restricted shares granted or vested during the six-month period ended March 31, 2014. At March 31, 2015, there was $31,000 of total unrecognized compensation expense related to nonvested restricted shares. The compensation expense is expected to be recognized over the remaining vesting period of 0.13 years. | ||||||||||||||
In May 2010, the Company awarded 177,549 incentive and 76,655 non-statutory stock options to directors, officers and key employees. The options granted vest ratably over five years and are exercisable in whole or in part for a period up to ten years from the date of the grant. Compensation expense is measured based on the fair market value of the options at the grant date and is recognized ratably over the period during which the shares are earned (the vesting period). The weighted average fair value at the grant date for options granted in 2010 was $3.09, as determined at the date of grant using the Binomial option pricing model. | ||||||||||||||
A summary of stock option activity under the Plan as of March 31, 2015, and changes during the six-month period then ended is presented below. | ||||||||||||||
Weighted | Weighted | |||||||||||||
Average | Average | |||||||||||||
Number | Exercise | Remaining | Aggregate | |||||||||||
of | Price | Contractual | Intrinsic | |||||||||||
Shares | Per Share | Term (years) | Value | |||||||||||
(Dollars in thousands, except per share data) | ||||||||||||||
Outstanding at October 1, 2014 | 234,232 | $ | 13.25 | 5.6 | $ | 2,743 | ||||||||
Granted | - | - | ||||||||||||
Exercised | -20,972 | $ | 13.25 | $ | 250 | |||||||||
Forfeited or expired | - | - | ||||||||||||
Outstanding at March 31, 2015 | 213,260 | $ | 13.25 | 5.1 | $ | 3,348 | ||||||||
Exercisable at March 31, 2015 | 166,009 | $ | 13.25 | 5.1 | $ | 2,606 | ||||||||
There were no stock options granted or exercised during the six-month period ended March 31, 2014. The Company recognized compensation expense related to stock options of $37,000 and $76,000 for the three- and six-month periods ended March 31, 2015, respectively. The Company recognized compensation expense related to stock options of $38,000 and $76,000 for the three- and six-month periods ended March 31, 2014. At March 31, 2015, there was $18,000 of unrecognized compensation expense related to nonvested stock options, which will be recognized over the remaining vesting period of 0.13 years. | ||||||||||||||
Preferred_Stock
Preferred Stock | 6 Months Ended | |
Mar. 31, 2015 | ||
Equity [Abstract] | ||
Preferred Stock | 11 | Preferred Stock |
On August 11, 2011, the Company entered into a Securities Purchase Agreement (“Purchase Agreement”) with the United States Department of the Treasury, pursuant to which the Company issued 17,120 shares of the its Senior Non-Cumulative Perpetual Preferred Stock, Series A (“Series A Preferred Stock”), having a liquidation amount per share equal to $1,000, for a total purchase price of $17,120,000. The Purchase Agreement was entered into, and the Series A Preferred Stock was issued, pursuant to the Small Business Lending Fund (“SBLF”) program, a $30 billion fund established under the Small Business Jobs Act of 2010, that encourages lending to small businesses by providing Tier 1 capital to qualified community banks with assets of less than $10 billion. | ||
Holders of the Series A Preferred Stock are entitled to receive non-cumulative dividends, payable quarterly, on each January 1, April 1, July 1 and October 1, beginning October 1, 2011. The dividend rate, as a percentage of the liquidation amount, can fluctuate on a quarterly basis during the first ten quarters during which the Series A Preferred Stock is outstanding and may be adjusted between 1.0% and 5.0% per annum, to reflect the amount of change in the Bank’s level of Qualified Small Business Lending (“QSBL”) (as defined in the Purchase Agreement) over the baseline level calculated under the terms of the Purchase Agreement (“Baseline”). In addition to the dividend, in the event the Bank’s level of QSBL has not increased relative to the Baseline, at the beginning of the tenth calendar quarter, the Company will be subject to an additional lending incentive fee equal to 2.0% per annum. For the eleventh dividend period through the eighteenth dividend period, inclusive, and that portion of the nineteenth dividend period before, but not including, the four and one half (4½) year anniversary of the date of issuance, the dividend rate will be fixed at between 1.0% and 7.0% per annum based upon the increase in QSBL as compared to the Baseline. After four and one half (4½) years from issuance, the dividend rate will increase to nine 9.0%. Based upon the Bank’s level of QSBL over the Baseline for purposes of calculating the dividend rate for the initial dividend period, the dividend rate for the initial dividend period ended September 30, 2011 was 4.84%. The dividend rate for the fifteenth dividend period ended March 31, 2015 was 1.0% and the weighted average dividend rate for the six-month period ended March 31, 2015 was 1.0%. The dividend rate for the sixteenth dividend period through the eighteenth dividend period will be 1.0%. | ||
The Series A Preferred Stock is non-voting, except in limited circumstances. In the event that the Company fails to timely make five dividend payments, whether or not consecutive, the holder of the Series A Preferred Stock will have the right, but not the obligation, to appoint a representative as an observer on the Company’s board of directors. | ||
The Series A Preferred Stock may be redeemed at any time at the Company’s option, at a redemption price of one hundred percent (100%) of the liquidation amount plus accrued but unpaid dividends to the date of redemption for the current period, subject to the approval of its federal banking regulator. | ||
The Series A Preferred Stock was issued in a private placement exempt from registration pursuant to Section 4(2) of the Securities Act of 1933, as amended. The Company has agreed to register the Series A Preferred Stock under certain circumstances set forth in the Purchase Agreement. The Series A Preferred Stock is not subject to any contractual restrictions on transfer. | ||
Recent_Accounting_Pronouncemen
Recent Accounting Pronouncements | 6 Months Ended | ||
Mar. 31, 2015 | |||
New Accounting Pronouncements and Changes In Accounting Principles [Abstract] | |||
Recent Accounting Pronouncements | 12 | Recent Accounting Pronouncements | |
The following are summaries of recently issued accounting pronouncements that impact the accounting and reporting practices of the Company: | |||
In January 2014, the FASB issued Accounting Standards Update (ASU) No. 2014-04, Receivables – Troubled Debt Restructurings by Creditors (Subtopic 310-40), Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure. The objective of the amendments in this update is to reduce diversity by clarifying when an in substance repossession or foreclosure occurs, that is, when a creditor should be considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan such that the loan receivable should be derecognized and the real estate property recognized. The amendments in the update clarify that an in substance repossession or foreclosure occurs, and 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. Additionally, the amendments require interim and annual disclosure of both (1) the amount of foreclosed residential real estate property held by the creditor, and (2) the recorded investment in consumer mortgage loans collateralized by residential real estate property that are in the process of foreclosure according to local requirements of the applicable jurisdiction. The amendments in the update are effective for public business entities for annual periods, and interim periods within those annual periods, beginning after December 15, 2014. The adoption of this update is not expected to have a material impact on the Company’s consolidated financial position or results of operations. | |||
In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606). The update provides a five-step revenue recognition model for all revenue arising from contracts with customer and affects all entities that enter into contracts to provide goods or services to their customers (unless the contracts are included in the scope of other standards). The guidance requires an entity to recognize the revenue to depict the transfer of promised 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 and services. For public entities, the guidance is effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period, and must be applied either retrospectively or using the modified retrospective approach. Early adoption is not permitted. Management is evaluating the new guidance, but does not expect the adoption of this guidance to have a material impact on the Company’s consolidated financial position or results of operations. | |||
Investment_Securities_Tables
Investment Securities (Tables) | 6 Months Ended | |||||||||||||
Mar. 31, 2015 | ||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ||||||||||||||
Amortized Cost and Fair Value of Securities | The amortized cost of securities available for sale and held to maturity and their approximate fair values are as follows: | |||||||||||||
Gross | Gross | |||||||||||||
Amortized | Unrealized | Unrealized | Fair | |||||||||||
Cost | Gains | Losses | Value | |||||||||||
(In thousands) | ||||||||||||||
March 31, 2015: | ||||||||||||||
Securities available for sale: | ||||||||||||||
Agency bonds and notes | $ | 9,083 | $ | 24 | $ | 6 | $ | 9,101 | ||||||
Agency mortgage-backed | 48,508 | 1,001 | 13 | 49,496 | ||||||||||
Agency CMO | 24,717 | 150 | 103 | 24,764 | ||||||||||
Privately-issued CMO | 3,159 | 553 | - | 3,712 | ||||||||||
Privately-issued ABS | 5,208 | 1,572 | - | 6,780 | ||||||||||
SBA certificates | 1,619 | 12 | - | 1,631 | ||||||||||
Municipal obligations | 82,732 | 5,205 | 46 | 87,891 | ||||||||||
Total securities available for sale | $ | 175,026 | $ | 8,517 | $ | 168 | $ | 183,375 | ||||||
Securities held to maturity: | ||||||||||||||
Agency mortgage-backed | $ | 402 | $ | 33 | $ | - | $ | 435 | ||||||
Municipal obligations | 4,610 | 648 | - | 5,258 | ||||||||||
Total securities held to maturity | $ | 5,012 | $ | 681 | $ | - | $ | 5,693 | ||||||
Gross | Gross | |||||||||||||
Amortized | Unrealized | Unrealized | Fair | |||||||||||
Cost | Gains | Losses | Value | |||||||||||
(In thousands) | ||||||||||||||
September 30, 2014: | ||||||||||||||
Securities available for sale: | ||||||||||||||
Agency bonds and notes | $ | 12,269 | $ | 12 | $ | 190 | $ | 12,091 | ||||||
Agency mortgage-backed | 51,845 | 518 | 108 | 52,255 | ||||||||||
Agency CMO | 29,648 | 95 | 259 | 29,484 | ||||||||||
Privately-issued CMO | 3,302 | 618 | - | 3,920 | ||||||||||
Privately-issued ABS | 5,552 | 1,801 | - | 7,353 | ||||||||||
SBA certificates | 1,753 | 9 | - | 1,762 | ||||||||||
Municipal obligations | 74,148 | 3,818 | 134 | 77,832 | ||||||||||
Total securities available for sale | $ | 178,517 | $ | 6,871 | $ | 691 | $ | 184,697 | ||||||
Securities held to maturity: | ||||||||||||||
Agency mortgage-backed | $ | 455 | $ | 37 | $ | - | $ | 492 | ||||||
Municipal | 4,964 | 393 | - | 5,357 | ||||||||||
Total securities held to maturity | $ | 5,419 | $ | 430 | $ | - | $ | 5,849 | ||||||
Amortized Cost and Fair Value of Investment Securities by Contractual Maturity | The amortized cost and fair value of investment securities as of March 31, 2015 by contractual maturity are shown below. Expected maturities of mortgage-backed securities, CMO and ABS may differ from contractual maturities because the mortgages underlying the obligations may be prepaid without penalty. | |||||||||||||
Available for Sale | Held to Maturity | |||||||||||||
Amortized | Fair | Amortized | Fair | |||||||||||
Cost | Value | Cost | Value | |||||||||||
(In thousands) | ||||||||||||||
Due within one year | $ | 530 | $ | 534 | $ | 604 | $ | 655 | ||||||
Due after one year through five years | 5,374 | 5,652 | 1,779 | 2,093 | ||||||||||
Due after five years through ten years | 23,662 | 25,094 | 1,386 | 1,579 | ||||||||||
Due after ten years | 62,249 | 65,712 | 841 | 931 | ||||||||||
91,815 | 96,992 | 4,610 | 5,258 | |||||||||||
CMO | 27,876 | 28,476 | - | - | ||||||||||
ABS | 5,208 | 6,780 | - | - | ||||||||||
SBA certificates | 1,619 | 1,631 | - | - | ||||||||||
Mortgage-backed securities | 48,508 | 49,496 | 402 | 435 | ||||||||||
$ | 175,026 | $ | 183,375 | $ | 5,012 | $ | 5,693 | |||||||
Available for Sale Securities with Gross Unrealized Losses by Investment Category and Length of Time Individual Securities Have Been in Continuous Loss Position | Information pertaining to investment securities with gross unrealized losses at March 31, 2015, aggregated by investment category and the length of time that individual securities have been in a continuous loss position, follows: | |||||||||||||
Number | Gross | |||||||||||||
of Investment | Fair | Unrealized | ||||||||||||
Positions | Value | Losses | ||||||||||||
(Dollars in thousands) | ||||||||||||||
Securities available for sale: | ||||||||||||||
Continuous loss position less than twelve months: | ||||||||||||||
Agency mortgage-backed | 1 | $ | 1,204 | $ | 1 | |||||||||
Agency CMO | 2 | 436 | 6 | |||||||||||
Municipal obligations | 5 | 3,115 | 42 | |||||||||||
Total less than twelve months | 8 | 4,755 | 49 | |||||||||||
Continuous loss position more than twelve months: | ||||||||||||||
Agency bonds and notes | 1 | 1,995 | 6 | |||||||||||
Agency mortgage-backed | 2 | 2,218 | 12 | |||||||||||
Agency CMO | 3 | 8,664 | 97 | |||||||||||
Municipal obligations | 2 | 1,280 | 4 | |||||||||||
Total more than twelve months | 8 | 14,157 | 119 | |||||||||||
Total securities available for sale | 16 | $ | 18,912 | $ | 168 | |||||||||
Loans_and_Allowance_for_Loan_L1
Loans and Allowance for Loan Losses (Tables) | 6 Months Ended | ||||||||||||||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||||||||||||||
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract] | |||||||||||||||||||||||||||||||||||
Loans | Loans at March 31, 2015 and September 30, 2014 consisted of the following: | ||||||||||||||||||||||||||||||||||
March 31, | September 30, | ||||||||||||||||||||||||||||||||||
2015 | 2014 | ||||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||
Real estate mortgage: | |||||||||||||||||||||||||||||||||||
1-4 family residential | $ | 180,155 | $ | 182,743 | |||||||||||||||||||||||||||||||
Commercial | 163,855 | 153,896 | |||||||||||||||||||||||||||||||||
Multifamily residential | 23,097 | 21,286 | |||||||||||||||||||||||||||||||||
Residential construction | 17,301 | 14,528 | |||||||||||||||||||||||||||||||||
Commercial construction | 7,791 | 8,354 | |||||||||||||||||||||||||||||||||
Land and land development | 11,738 | 11,290 | |||||||||||||||||||||||||||||||||
Commercial business loans | 30,240 | 28,448 | |||||||||||||||||||||||||||||||||
Consumer: | |||||||||||||||||||||||||||||||||||
Home equity loans | 17,828 | 17,903 | |||||||||||||||||||||||||||||||||
Auto loans | 5,480 | 5,619 | |||||||||||||||||||||||||||||||||
Other consumer loans | 2,211 | 2,320 | |||||||||||||||||||||||||||||||||
Gross loans | 459,696 | 446,387 | |||||||||||||||||||||||||||||||||
Undisbursed portion of construction loans | -8,110 | -6,271 | |||||||||||||||||||||||||||||||||
Principal loan balance | 451,586 | 440,116 | |||||||||||||||||||||||||||||||||
Deferred loan origination fees and costs, net | -48 | 10 | |||||||||||||||||||||||||||||||||
Allowance for loan losses | -6,514 | -6,250 | |||||||||||||||||||||||||||||||||
Loans, net | $ | 445,024 | $ | 433,876 | |||||||||||||||||||||||||||||||
Components of Recorded Investment in Loans for Each Portfolio Class | The following table provides the components of the recorded investment in loans as of March 31, 2015: | ||||||||||||||||||||||||||||||||||
Residential | Commercial | Land & Land | Commercial | ||||||||||||||||||||||||||||||||
Real Estate | Real Estate | Multifamily | Construction | Development | Business | Consumer | Total | ||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||
Recorded Investment in Loans: | |||||||||||||||||||||||||||||||||||
Principal loan balance | $ | 180,155 | $ | 163,855 | $ | 23,097 | $ | 16,982 | $ | 11,738 | $ | 30,240 | $ | 25,519 | $ | 451,586 | |||||||||||||||||||
Accrued interest receivable | 552 | 417 | 55 | 29 | 29 | 88 | 57 | 1,227 | |||||||||||||||||||||||||||
Net deferred loan origination fees and costs | 306 | -279 | -25 | -50 | 4 | -7 | 3 | -48 | |||||||||||||||||||||||||||
Recorded investment in loans | $ | 181,013 | $ | 163,993 | $ | 23,127 | $ | 16,961 | $ | 11,771 | $ | 30,321 | $ | 25,579 | $ | 452,765 | |||||||||||||||||||
Recorded Investment in Loans as Evaluated for Impairment: | |||||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 4,535 | $ | 5,671 | $ | - | $ | - | $ | - | $ | 369 | $ | 327 | $ | 10,902 | |||||||||||||||||||
Collectively evaluated for impairment | 176,004 | 158,322 | 23,127 | 16,961 | 11,771 | 29,952 | 25,221 | 441,358 | |||||||||||||||||||||||||||
Acquired with deteriorated credit quality | 474 | - | - | - | - | - | 31 | 505 | |||||||||||||||||||||||||||
Ending balance | $ | 181,013 | $ | 163,993 | $ | 23,127 | $ | 16,961 | $ | 11,771 | $ | 30,321 | $ | 25,579 | $ | 452,765 | |||||||||||||||||||
The following table provides the components of the recorded investment in loans as of September 30, 2014: | |||||||||||||||||||||||||||||||||||
Residential | Commercial | Multifamily | Construction | Land & Land | Commercial | Consumer | Total | ||||||||||||||||||||||||||||
Real Estate | Real Estate | Development | Business | ||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||
Recorded Investment in Loans: | |||||||||||||||||||||||||||||||||||
Principal loan balance | $ | 182,743 | $ | 153,896 | $ | 21,286 | $ | 16,611 | $ | 11,290 | $ | 28,448 | $ | 25,842 | $ | 440,116 | |||||||||||||||||||
Accrued interest receivable | 590 | 384 | 53 | 44 | 31 | 111 | 63 | 1,276 | |||||||||||||||||||||||||||
Net deferred loan origination fees and costs | 337 | -252 | -28 | -54 | 4 | -9 | 12 | 10 | |||||||||||||||||||||||||||
Recorded investment in loans | $ | 183,670 | $ | 154,028 | $ | 21,311 | $ | 16,601 | $ | 11,325 | $ | 28,550 | $ | 25,917 | $ | 441,402 | |||||||||||||||||||
Recorded Investment in Loans as Evaluated for Impairment: | |||||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 4,866 | $ | 5,705 | $ | - | $ | - | $ | - | $ | 145 | $ | 350 | $ | 11,066 | |||||||||||||||||||
Collectively evaluated for impairment | 178,298 | 148,323 | 21,311 | 16,601 | 11,325 | 28,405 | 25,535 | 429,798 | |||||||||||||||||||||||||||
Acquired with deteriorated credit quality | 506 | - | - | - | - | - | 32 | 538 | |||||||||||||||||||||||||||
Ending balance | $ | 183,670 | $ | 154,028 | $ | 21,311 | $ | 16,601 | $ | 11,325 | $ | 28,550 | $ | 25,917 | $ | 441,402 | |||||||||||||||||||
Allowance for Loan Losses | An analysis of the allowance for loan losses as of March 31, 2015 is as follows: | ||||||||||||||||||||||||||||||||||
Residential | Commercial | Land & Land | Commercial | ||||||||||||||||||||||||||||||||
Real Estate | Real Estate | Multifamily | Construction | Development | Business | Consumer | Total | ||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||
Ending Allowance Balance Attributable to Loans: | |||||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 10 | $ | 1 | $ | - | $ | - | $ | - | $ | 48 | $ | 6 | $ | 65 | |||||||||||||||||||
Collectively evaluated for impairment | 447 | 4,108 | 163 | 455 | 316 | 838 | 122 | 6,449 | |||||||||||||||||||||||||||
Acquired with deteriorated credit quality | - | - | - | - | - | - | - | - | |||||||||||||||||||||||||||
Ending balance | $ | 457 | $ | 4,109 | $ | 163 | $ | 455 | $ | 316 | $ | 886 | $ | 128 | $ | 6,514 | |||||||||||||||||||
An analysis of the allowance for loan losses as of September 30, 2014 is as follows: | |||||||||||||||||||||||||||||||||||
Residential | Commercial | Land & Land | Commercial | ||||||||||||||||||||||||||||||||
Real Estate | Real Estate | Multifamily | Construction | Development | Business | Consumer | Total | ||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||
Ending Allowance Balance Attributable to Loans: | |||||||||||||||||||||||||||||||||||
Individually evaluated for impairment | $ | 13 | $ | - | $ | - | $ | - | $ | - | $ | - | $ | 8 | $ | 21 | |||||||||||||||||||
Collectively evaluated for impairment | 564 | 3,808 | 146 | 443 | 302 | 795 | 171 | 6,229 | |||||||||||||||||||||||||||
Acquired with deteriorated credit quality | - | - | - | - | - | - | - | - | |||||||||||||||||||||||||||
Ending balance | $ | 577 | $ | 3,808 | $ | 146 | $ | 443 | $ | 302 | $ | 795 | $ | 179 | $ | 6,250 | |||||||||||||||||||
Changes in Allowance for Loan Losses | An analysis of the changes in the allowance for loan losses for the three months ended March 31, 2015 is as follows: | ||||||||||||||||||||||||||||||||||
Residential | Commercial | Land & Land | Commercial | ||||||||||||||||||||||||||||||||
Real Estate | Real Estate | Multifamily | Construction | Development | Business | Consumer | Total | ||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||
Changes in Allowance for Loan Losses: | |||||||||||||||||||||||||||||||||||
Beginning balance | $ | 442 | $ | 4,217 | $ | 163 | $ | 344 | $ | 299 | $ | 826 | $ | 159 | $ | 6,450 | |||||||||||||||||||
Provisions | 145 | -108 | - | 111 | 17 | 59 | -12 | 212 | |||||||||||||||||||||||||||
Charge-offs | -131 | - | - | - | - | - | -41 | -172 | |||||||||||||||||||||||||||
Recoveries | 1 | - | - | - | - | 1 | 22 | 24 | |||||||||||||||||||||||||||
Ending balance | $ | 457 | $ | 4,109 | $ | 163 | $ | 455 | $ | 316 | $ | 886 | $ | 128 | $ | 6,514 | |||||||||||||||||||
An analysis of the changes in the allowance for loan losses for the six months ended March 31, 2015 is as follows: | |||||||||||||||||||||||||||||||||||
Residential | Commercial | Land & Land | Commercial | ||||||||||||||||||||||||||||||||
Real Estate | Real Estate | Multifamily | Construction | Development | Business | Consumer | Total | ||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||
Changes in Allowance for Loan Losses: | |||||||||||||||||||||||||||||||||||
Beginning balance | $ | 577 | $ | 3,808 | $ | 146 | $ | 443 | $ | 302 | $ | 795 | $ | 179 | $ | 6,250 | |||||||||||||||||||
Provisions | -2 | 301 | 17 | 12 | 14 | 90 | -13 | 419 | |||||||||||||||||||||||||||
Charge-offs | -143 | - | - | - | - | - | -73 | -216 | |||||||||||||||||||||||||||
Recoveries | 25 | - | - | - | - | 1 | 35 | 61 | |||||||||||||||||||||||||||
Ending balance | $ | 457 | $ | 4,109 | $ | 163 | $ | 455 | $ | 316 | $ | 886 | $ | 128 | $ | 6,514 | |||||||||||||||||||
An analysis of the changes in the allowance for loan losses for the three months ended March 31, 2014 is as follows: | |||||||||||||||||||||||||||||||||||
Residential | Commercial | Land & Land | Commercial | ||||||||||||||||||||||||||||||||
Real Estate | Real Estate | Multifamily | Construction | Development | Business | Consumer | Total | ||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||
Changes in Allowance for Loan Losses: | |||||||||||||||||||||||||||||||||||
Beginning balance | $ | 660 | $ | 3,080 | $ | 253 | $ | 255 | $ | 367 | $ | 1,070 | $ | 286 | $ | 5,971 | |||||||||||||||||||
Provisions | -15 | 504 | 18 | -33 | -11 | -163 | 3 | 303 | |||||||||||||||||||||||||||
Charge-offs | -21 | -144 | - | - | - | - | -69 | -234 | |||||||||||||||||||||||||||
Recoveries | 2 | - | - | - | - | - | 18 | 20 | |||||||||||||||||||||||||||
Ending balance | $ | 626 | $ | 3,440 | $ | 271 | $ | 222 | $ | 356 | $ | 907 | $ | 238 | $ | 6,060 | |||||||||||||||||||
An analysis of the changes in the allowance for loan losses for the six months ended March 31, 2014 is as follows: | |||||||||||||||||||||||||||||||||||
Residential | Commercial | Land & Land | Commercial | ||||||||||||||||||||||||||||||||
Real Estate | Real Estate | Multifamily | Construction | Development | Business | Consumer | Total | ||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||
Changes in Allowance for Loan Losses: | |||||||||||||||||||||||||||||||||||
Beginning balance | $ | 780 | $ | 2,826 | $ | 249 | $ | 229 | $ | 299 | $ | 907 | $ | 248 | $ | 5,538 | |||||||||||||||||||
Provisions | -61 | 539 | 22 | -7 | 57 | - | 54 | 604 | |||||||||||||||||||||||||||
Charge-offs | -97 | -144 | - | - | - | - | -99 | -340 | |||||||||||||||||||||||||||
Recoveries | 4 | 219 | - | - | - | - | 35 | 258 | |||||||||||||||||||||||||||
Ending balance | $ | 626 | $ | 3,440 | $ | 271 | $ | 222 | $ | 356 | $ | 907 | $ | 238 | $ | 6,060 | |||||||||||||||||||
Impaired Loans Individually Evaluated for Impairment | The following table presents impaired loans individually evaluated for impairment as of March 31, 2015 and for the three and six months ended March 31, 2015 and 2014. | ||||||||||||||||||||||||||||||||||
At March 31, 2015 | Three Months Ended March 31, | Six Months Ended March 31, | |||||||||||||||||||||||||||||||||
2015 | 2015 | 2014 | 2014 | 2015 | 2015 | 2014 | 2014 | ||||||||||||||||||||||||||||
Unpaid | Average | Interest | Average | Interest | Average | Interest | Average | Interest | |||||||||||||||||||||||||||
Recorded | Principal | Related | Recorded | Income | Recorded | Income | Recorded | Income | Recorded | Income | |||||||||||||||||||||||||
Investment | Balance | Allowance | Investment | Recognized | Investment | Recognized | Investment | Recognized | Investment | Recognized | |||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||
Loans with no related allowance recorded: | |||||||||||||||||||||||||||||||||||
Residential real estate | $ | 4,712 | $ | 5,319 | $ | - | $ | 5,685 | $ | 37 | $ | 6,023 | $ | 34 | $ | 5,729 | $ | 72 | $ | 6,166 | $ | 65 | |||||||||||||
Commercial real estate | 5,648 | 5,687 | - | 5,689 | 55 | 5,822 | 53 | 5,702 | 113 | 5,934 | 111 | ||||||||||||||||||||||||
Multifamily | - | - | - | - | - | 2,227 | 28 | - | - | 2,234 | 56 | ||||||||||||||||||||||||
Construction | - | - | - | - | - | - | - | - | - | - | - | ||||||||||||||||||||||||
Land and land development | - | - | - | - | - | - | - | - | - | - | - | ||||||||||||||||||||||||
Commercial business | 321 | 306 | - | 254 | 1 | 446 | 1 | 216 | 1 | 446 | 1 | ||||||||||||||||||||||||
Consumer | 226 | 231 | - | 238 | 1 | 298 | 1 | 248 | 3 | 310 | 3 | ||||||||||||||||||||||||
$ | 10,907 | $ | 11,543 | $ | - | $ | 11,866 | $ | 94 | $ | 14,816 | $ | 117 | $ | 11,895 | $ | 189 | $ | 15,090 | $ | 236 | ||||||||||||||
Loans with an allowance recorded: | |||||||||||||||||||||||||||||||||||
Residential real estate | $ | 75 | $ | 73 | $ | 10 | $ | 142 | $ | - | $ | 55 | $ | - | $ | 152 | $ | - | $ | 55 | $ | - | |||||||||||||
Commercial real estate | 23 | 22 | 1 | 6 | - | - | - | 3 | - | - | - | ||||||||||||||||||||||||
Multifamily | - | - | - | - | - | - | - | - | - | - | - | ||||||||||||||||||||||||
Construction | - | - | - | - | - | - | - | - | - | - | - | ||||||||||||||||||||||||
Land and land development | - | - | - | - | - | - | - | - | - | - | - | ||||||||||||||||||||||||
Commercial business | 48 | 48 | 48 | 12 | - | - | - | 7 | - | - | - | ||||||||||||||||||||||||
Consumer | 101 | 101 | 6 | 85 | - | 97 | - | 91 | - | 96 | - | ||||||||||||||||||||||||
$ | 247 | $ | 244 | $ | 65 | $ | 245 | $ | - | $ | 152 | $ | - | $ | 253 | $ | - | $ | 151 | $ | - | ||||||||||||||
Total: | |||||||||||||||||||||||||||||||||||
Residential real estate | $ | 4,787 | $ | 5,392 | $ | 10 | $ | 5,827 | $ | 37 | $ | 6,078 | $ | 34 | $ | 5,881 | $ | 72 | $ | 6,221 | $ | 65 | |||||||||||||
Commercial real estate | 5,671 | 5,709 | 1 | 5,695 | 55 | 5,822 | 53 | 5,705 | 113 | 5,934 | 111 | ||||||||||||||||||||||||
Multifamily | - | - | - | - | - | 2,227 | 28 | - | - | 2,234 | 56 | ||||||||||||||||||||||||
Construction | - | - | - | - | - | - | - | - | - | - | - | ||||||||||||||||||||||||
Land and land development | - | - | - | - | - | - | - | - | - | - | - | ||||||||||||||||||||||||
Commercial business | 369 | 354 | 48 | 266 | 1 | 446 | 1 | 223 | 1 | 446 | 1 | ||||||||||||||||||||||||
Consumer | 327 | 332 | 6 | 323 | 1 | 395 | 1 | 339 | 3 | 406 | 3 | ||||||||||||||||||||||||
$ | 11,154 | $ | 11,787 | $ | 65 | $ | 12,111 | $ | 94 | $ | 14,968 | $ | 117 | $ | 12,148 | $ | 189 | $ | 15,241 | $ | 236 | ||||||||||||||
The following table presents impaired loans individually evaluated for impairment as of September 30, 2014. | |||||||||||||||||||||||||||||||||||
Unpaid | |||||||||||||||||||||||||||||||||||
Recorded | Principal | Related | |||||||||||||||||||||||||||||||||
Investment | Balance | Allowance | |||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||
Loans with no related allowance recorded: | |||||||||||||||||||||||||||||||||||
Residential real estate | $ | 4,974 | $ | 5,426 | $ | - | |||||||||||||||||||||||||||||
Commercial real estate | 5,705 | 5,739 | - | ||||||||||||||||||||||||||||||||
Multifamily | - | - | - | ||||||||||||||||||||||||||||||||
Construction | - | - | - | ||||||||||||||||||||||||||||||||
Land and land development | - | - | - | ||||||||||||||||||||||||||||||||
Commercial business | 145 | 133 | - | ||||||||||||||||||||||||||||||||
Consumer | 255 | 258 | - | ||||||||||||||||||||||||||||||||
$ | 11,079 | $ | 11,556 | $ | - | ||||||||||||||||||||||||||||||
Loans with an allowance recorded: | |||||||||||||||||||||||||||||||||||
Residential real estate | $ | 167 | $ | 166 | $ | 13 | |||||||||||||||||||||||||||||
Commercial real estate | - | - | - | ||||||||||||||||||||||||||||||||
Multifamily | - | - | - | ||||||||||||||||||||||||||||||||
Construction | - | - | - | ||||||||||||||||||||||||||||||||
Land and land development | - | - | - | ||||||||||||||||||||||||||||||||
Commercial business | - | - | - | ||||||||||||||||||||||||||||||||
Consumer | 95 | 95 | 8 | ||||||||||||||||||||||||||||||||
$ | 262 | $ | 261 | $ | 21 | ||||||||||||||||||||||||||||||
Total: | |||||||||||||||||||||||||||||||||||
Residential real estate | $ | 5,141 | $ | 5,592 | $ | 13 | |||||||||||||||||||||||||||||
Commercial real estate | 5,705 | 5,739 | - | ||||||||||||||||||||||||||||||||
Multifamily | - | - | - | ||||||||||||||||||||||||||||||||
Construction | - | - | - | ||||||||||||||||||||||||||||||||
Land and land development | - | - | - | ||||||||||||||||||||||||||||||||
Commercial business | 145 | 133 | - | ||||||||||||||||||||||||||||||||
Consumer | 350 | 353 | 8 | ||||||||||||||||||||||||||||||||
$ | 11,341 | $ | 11,817 | $ | 21 | ||||||||||||||||||||||||||||||
Recorded Investment in Nonperforming Loans by Class of Loans | Nonperforming loans consists of nonaccrual loans and loans over 90 days past due and still accruing interest. The following table presents the recorded investment in nonperforming loans at March 31, 2015: | ||||||||||||||||||||||||||||||||||
Loans 90+ | |||||||||||||||||||||||||||||||||||
Days | Total | ||||||||||||||||||||||||||||||||||
Nonaccrual | Past Due | Nonperforming | |||||||||||||||||||||||||||||||||
Loans | Still Accruing | Loans | |||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||
Residential real estate | $ | 1,893 | $ | 625 | $ | 2,518 | |||||||||||||||||||||||||||||
Commercial real estate | 397 | - | 397 | ||||||||||||||||||||||||||||||||
Multifamily | - | 294 | 294 | ||||||||||||||||||||||||||||||||
Construction | - | - | - | ||||||||||||||||||||||||||||||||
Land and land development | - | - | - | ||||||||||||||||||||||||||||||||
Commercial business | 350 | 106 | 456 | ||||||||||||||||||||||||||||||||
Consumer | 199 | 24 | 223 | ||||||||||||||||||||||||||||||||
Total | $ | 2,839 | $ | 1,049 | $ | 3,888 | |||||||||||||||||||||||||||||
The following table presents the recorded investment in nonperforming loans at September 30, 2014: | |||||||||||||||||||||||||||||||||||
Loans 90+ | |||||||||||||||||||||||||||||||||||
Days | Total | ||||||||||||||||||||||||||||||||||
Nonaccrual | Past Due | Nonperforming | |||||||||||||||||||||||||||||||||
Loans | Still Accruing | Loans | |||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||
Residential real estate | $ | 2,431 | $ | 458 | $ | 2,889 | |||||||||||||||||||||||||||||
Commercial real estate | 1,034 | - | 1,034 | ||||||||||||||||||||||||||||||||
Multifamily | - | - | - | ||||||||||||||||||||||||||||||||
Construction | - | - | - | ||||||||||||||||||||||||||||||||
Land and land development | - | - | - | ||||||||||||||||||||||||||||||||
Commercial business | 123 | - | 123 | ||||||||||||||||||||||||||||||||
Consumer | 216 | 20 | 236 | ||||||||||||||||||||||||||||||||
Total | $ | 3,804 | $ | 478 | $ | 4,282 | |||||||||||||||||||||||||||||
Aging of Recorded Investment in Past Due Loans | The following table presents the aging of the recorded investment in past due loans at March 31, 2015: | ||||||||||||||||||||||||||||||||||
30-59 | 60-89 | 90 + | |||||||||||||||||||||||||||||||||
Days | Days | Days | Total | Total | |||||||||||||||||||||||||||||||
Past Due | Past Due | Past Due | Past Due | Current | Loans | ||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||
Residential real estate | $ | 3,951 | $ | 197 | $ | 1,770 | $ | 5,918 | $ | 175,095 | $ | 181,013 | |||||||||||||||||||||||
Commercial real estate | 1,529 | 125 | 196 | 1,850 | 162,143 | 163,993 | |||||||||||||||||||||||||||||
Multifamily | - | - | 294 | 294 | 22,833 | 23,127 | |||||||||||||||||||||||||||||
Construction | - | - | - | - | 16,961 | 16,961 | |||||||||||||||||||||||||||||
Land and land development | 5 | - | - | 5 | 11,766 | 11,771 | |||||||||||||||||||||||||||||
Commercial business | 11 | 31 | 456 | 498 | 29,823 | 30,321 | |||||||||||||||||||||||||||||
Consumer | 116 | 24 | 61 | 201 | 25,378 | 25,579 | |||||||||||||||||||||||||||||
Total | $ | 5,612 | $ | 377 | $ | 2,777 | $ | 8,766 | $ | 443,999 | $ | 452,765 | |||||||||||||||||||||||
The following table presents the aging of the recorded investment in past due loans at September 30, 2014: | |||||||||||||||||||||||||||||||||||
30-59 | 60-89 | 90 + | |||||||||||||||||||||||||||||||||
Days | Days | Days | Total | Total | |||||||||||||||||||||||||||||||
Past Due | Past Due | Past Due | Past Due | Current | Loans | ||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||
Residential real estate | $ | 4,493 | $ | 1,639 | $ | 1,823 | $ | 7,955 | $ | 175,715 | $ | 183,670 | |||||||||||||||||||||||
Commercial real estate | 115 | 54 | 59 | 228 | 153,800 | 154,028 | |||||||||||||||||||||||||||||
Multifamily | 297 | - | - | 297 | 21,014 | 21,311 | |||||||||||||||||||||||||||||
Construction | - | - | - | - | 16,601 | 16,601 | |||||||||||||||||||||||||||||
Land and land development | 6 | 205 | - | 211 | 11,114 | 11,325 | |||||||||||||||||||||||||||||
Commercial business | 259 | - | 123 | 382 | 28,168 | 28,550 | |||||||||||||||||||||||||||||
Consumer | 39 | 79 | 72 | 190 | 25,727 | 25,917 | |||||||||||||||||||||||||||||
Total | $ | 5,209 | $ | 1,977 | $ | 2,077 | $ | 9,263 | $ | 432,139 | $ | 441,402 | |||||||||||||||||||||||
Recorded Investment in Loans by Risk Category | As of March 31, 2015, and based on the most recent analysis performed, the recorded investment in loans by risk category was as follows: | ||||||||||||||||||||||||||||||||||
Residential | Commercial | Land and Land | Commercial | ||||||||||||||||||||||||||||||||
Real Estate | Real Estate | Multifamily | Construction | Development | Business | Consumer | Total | ||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||
Pass | $ | 170,437 | $ | 145,326 | $ | 23,127 | $ | 16,961 | $ | 11,670 | $ | 29,738 | $ | 25,152 | $ | 422,411 | |||||||||||||||||||
Special Mention | 4,436 | 13,733 | - | - | 5 | 211 | 77 | 18,462 | |||||||||||||||||||||||||||
Substandard | 5,942 | 4,934 | - | - | 96 | 372 | 344 | 11,688 | |||||||||||||||||||||||||||
Doubtful | 198 | - | - | - | - | - | 6 | 204 | |||||||||||||||||||||||||||
Loss | - | - | - | - | - | - | - | - | |||||||||||||||||||||||||||
Total | $ | 181,013 | $ | 163,993 | $ | 23,127 | $ | 16,961 | $ | 11,771 | $ | 30,321 | $ | 25,579 | $ | 452,765 | |||||||||||||||||||
As of September 30, 2014, the recorded investment in loans by risk category was as follows: | |||||||||||||||||||||||||||||||||||
Residential | Commercial | Land and Land | Commercial | ||||||||||||||||||||||||||||||||
Real Estate | Real Estate | Multifamily | Construction | Development | Business | Consumer | Total | ||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||
Pass | $ | 172,822 | $ | 138,854 | $ | 21,311 | $ | 16,601 | $ | 11,206 | $ | 28,127 | $ | 25,471 | $ | 414,392 | |||||||||||||||||||
Special Mention | 4,233 | 10,226 | - | - | 6 | 278 | 89 | 14,832 | |||||||||||||||||||||||||||
Substandard | 6,398 | 4,948 | - | - | 113 | 145 | 350 | 11,954 | |||||||||||||||||||||||||||
Doubtful | 217 | - | - | - | - | - | 7 | 224 | |||||||||||||||||||||||||||
Loss | - | - | - | - | - | - | - | - | |||||||||||||||||||||||||||
Total | $ | 183,670 | $ | 154,028 | $ | 21,311 | $ | 16,601 | $ | 11,325 | $ | 28,550 | $ | 25,917 | $ | 441,402 | |||||||||||||||||||
Recorded Investment in Troubled Debt Restructurings by Class of Loan and Accrual Status | The following table summarizes the Company’s recorded investment in TDRs at March 31, 2015 and September 30, 2014. There was no specific reserve included in the allowance for loan losses related to TDRs at March 31, 2015 and September 30, 2014. | ||||||||||||||||||||||||||||||||||
Accruing | Nonaccrual | Total | |||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||
March 31, 2015: | |||||||||||||||||||||||||||||||||||
Residential real estate | $ | 2,894 | $ | 147 | $ | 3,041 | |||||||||||||||||||||||||||||
Commercial real estate | 5,274 | - | 5,274 | ||||||||||||||||||||||||||||||||
Commercial business | 19 | - | 19 | ||||||||||||||||||||||||||||||||
Consumer | 128 | - | 128 | ||||||||||||||||||||||||||||||||
Total | $ | 8,315 | $ | 147 | $ | 8,462 | |||||||||||||||||||||||||||||
September 30, 2014: | |||||||||||||||||||||||||||||||||||
Residential real estate | $ | 2,710 | $ | 214 | $ | 2,924 | |||||||||||||||||||||||||||||
Commercial real estate | 4,671 | 696 | 5,367 | ||||||||||||||||||||||||||||||||
Commercial business | 22 | - | 22 | ||||||||||||||||||||||||||||||||
Consumer | 134 | - | 134 | ||||||||||||||||||||||||||||||||
Total | $ | 7,537 | $ | 910 | $ | 8,447 | |||||||||||||||||||||||||||||
Troubled Debt Restructurings | The following table summarizes information in regard to TDRs that were restructured during the three- and six-month periods ended March 31, 2015 and 2014: | ||||||||||||||||||||||||||||||||||
Pre- | Post- | ||||||||||||||||||||||||||||||||||
Modification | Modification | ||||||||||||||||||||||||||||||||||
Number of | Principal | Principal | |||||||||||||||||||||||||||||||||
Loans | Balance | Balance | |||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||
March 31, 2015: | |||||||||||||||||||||||||||||||||||
Six Months Ended March 31, 2015: | |||||||||||||||||||||||||||||||||||
Residential real estate | 2 | $ | 165 | $ | 172 | ||||||||||||||||||||||||||||||
Total | 2 | $ | 165 | $ | 172 | ||||||||||||||||||||||||||||||
March 31, 2014: | |||||||||||||||||||||||||||||||||||
Three Months Ended March 31, 2014: | |||||||||||||||||||||||||||||||||||
Residential real estate | 1 | $ | 42 | $ | 42 | ||||||||||||||||||||||||||||||
Total | 1 | $ | 42 | $ | 42 | ||||||||||||||||||||||||||||||
Six Months Ended March 31, 2014: | |||||||||||||||||||||||||||||||||||
Residential real estate | 3 | $ | 139 | $ | 159 | ||||||||||||||||||||||||||||||
Commercial real estate | 1 | 716 | 724 | ||||||||||||||||||||||||||||||||
Total | 4 | $ | 855 | $ | 883 | ||||||||||||||||||||||||||||||
Supplemental_Disclosure_for_Ea1
Supplemental Disclosure for Earnings Per Share (Tables) | 6 Months Ended | |||||||||||||
Mar. 31, 2015 | ||||||||||||||
Earnings Per Share [Abstract] | ||||||||||||||
Earnings Per Share Information | Earnings per share information is presented below for the three- and six-month periods ended March 31, 2015 and 2014. | |||||||||||||
Three Months Ended | Six Months Ended | |||||||||||||
March 31, | March 31, | |||||||||||||
2015 | 2014 | 2015 | 2014 | |||||||||||
(Dollars in thousands, except per share data) | ||||||||||||||
Basic: | ||||||||||||||
Earnings: | ||||||||||||||
Net income | $ | 1,527 | $ | 1,536 | $ | 2,727 | $ | 2,564 | ||||||
Less: Preferred stock dividends declared | -43 | -43 | -86 | -86 | ||||||||||
Net income available to common shareholders | $ | 1,484 | $ | 1,493 | $ | 2,641 | $ | 2,478 | ||||||
Shares: | ||||||||||||||
Weighted average common shares outstanding | 2,138,931 | 2,140,414 | 2,125,369 | 2,149,426 | ||||||||||
Net income per common share, basic | $ | 0.69 | $ | 0.7 | $ | 1.24 | $ | 1.15 | ||||||
Diluted: | ||||||||||||||
Earnings: | ||||||||||||||
Net income | $ | 1,527 | $ | 1,536 | $ | 2,727 | $ | 2,564 | ||||||
Less: Preferred stock dividends declared | -43 | -43 | -86 | -86 | ||||||||||
Net income available to common shareholders | $ | 1,484 | $ | 1,493 | $ | 2,641 | $ | 2,478 | ||||||
Shares: | ||||||||||||||
Weighted average common shares outstanding | 2,138,931 | 2,140,414 | 2,125,369 | 2,149,426 | ||||||||||
Add: Dilutive effect of outstanding options | 96,436 | 93,337 | 96,967 | 91,359 | ||||||||||
Add: Dilutive effect of restricted stock | 10,004 | 15,210 | 9,238 | 14,214 | ||||||||||
Weighted average common shares outstanding as adjusted | 2,245,371 | 2,248,961 | 2,231,574 | 2,254,999 | ||||||||||
Net income per common share, diluted | $ | 0.66 | $ | 0.66 | $ | 1.18 | $ | 1.1 | ||||||
Supplemental_Disclosures_of_Ca1
Supplemental Disclosures of Cash Flow Information (Tables) | 6 Months Ended | |||||||
Mar. 31, 2015 | ||||||||
Supplemental Cash Flow Elements [Abstract] | ||||||||
Supplemental Cash Flow Information | Supplemental Disclosures of Cash Flow Information | |||||||
Six Months Ended | ||||||||
March 31, | ||||||||
2015 | 2014 | |||||||
(In thousands) | ||||||||
Cash payments for: | ||||||||
Interest | $ | 1,953 | $ | 1,945 | ||||
Taxes | 864 | 620 | ||||||
Transfers from loans to foreclosed real estate | 398 | 776 | ||||||
Proceeds from sales of foreclosed real estate financed through loans | 290 | 496 | ||||||
Fair_Value_Measurements_and_Di1
Fair Value Measurements and Disclosures about Fair Value of Financial Instruments (Tables) | 6 Months Ended | |||||||||||||
Mar. 31, 2015 | ||||||||||||||
Fair Value Disclosures [Abstract] | ||||||||||||||
Financial Assets Measured at Fair Value on Recurring and Nonrecurring Basis | The tables below present the balances of financial assets measured at fair value on a recurring and nonrecurring basis as of March 31, 2015 and September 30, 2014. The Company had no liabilities measured at fair value as of March 31, 2015 or September 30, 2014. | |||||||||||||
Carrying Value | ||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||
(In thousands) | ||||||||||||||
March 31, 2015: | ||||||||||||||
Assets Measured - Recurring Basis: | ||||||||||||||
Trading account securities | $ | - | $ | 5,229 | $ | - | $ | 5,229 | ||||||
Securities available for sale: | ||||||||||||||
Agency bonds and notes | $ | - | $ | 9,101 | $ | - | $ | 9,101 | ||||||
Agency mortgage-backed | - | 49,496 | - | 49,496 | ||||||||||
Agency CMO | - | 24,764 | - | 24,764 | ||||||||||
Privately-issued CMO | - | 3,712 | - | 3,712 | ||||||||||
Privately-issued ABS | - | 6,780 | - | 6,780 | ||||||||||
SBA certificates | - | 1,631 | - | 1,631 | ||||||||||
Municipal | - | 87,891 | - | 87,891 | ||||||||||
Total securities available for sale | $ | - | $ | 183,375 | $ | - | $ | 183,375 | ||||||
Assets Measured - Nonrecurring Basis: | ||||||||||||||
Impaired loans: | ||||||||||||||
Residential real estate | $ | - | $ | - | $ | 4,777 | $ | 4,777 | ||||||
Commercial real estate | - | - | 5,670 | 5,670 | ||||||||||
Commercial business | - | - | 321 | 321 | ||||||||||
Consumer | - | - | 321 | 321 | ||||||||||
Total impaired loans | $ | - | $ | - | $ | 11,089 | $ | 11,089 | ||||||
Loans held for sale | $ | - | $ | 320 | $ | - | $ | 320 | ||||||
Other real estate owned, held for sale: | ||||||||||||||
Residential real estate | $ | - | $ | - | $ | 394 | $ | 394 | ||||||
Commercial real estate | - | - | 100 | 100 | ||||||||||
Land and land development | - | - | 58 | 58 | ||||||||||
Total other real estate owned | $ | - | $ | - | $ | 552 | $ | 552 | ||||||
Carrying Value | ||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||
(In thousands) | ||||||||||||||
September 30, 2014: | ||||||||||||||
Assets Measured - Recurring Basis: | ||||||||||||||
Trading account securities | $ | - | $ | 5,319 | $ | - | $ | 5,319 | ||||||
Securities available for sale: | ||||||||||||||
Agency bonds and notes | $ | - | $ | 12,091 | $ | - | $ | 12,091 | ||||||
Agency mortgage-backed | - | 52,255 | - | 52,255 | ||||||||||
Agency CMO | - | 29,484 | - | 29,484 | ||||||||||
Privately-issued CMO | - | 3,920 | - | 3,920 | ||||||||||
Privately-issued ABS | - | 7,353 | - | 7,353 | ||||||||||
SBA certificates | - | 1,762 | 1,762 | |||||||||||
Municipal | - | 77,832 | - | 77,832 | ||||||||||
Total securities available for sale | $ | - | $ | 184,697 | $ | - | $ | 184,697 | ||||||
Interest rate cap contract | $ | - | $ | 1 | $ | - | $ | 1 | ||||||
Assets Measured - Nonrecurring Basis: | ||||||||||||||
Impaired loans: | ||||||||||||||
Residential real estate | $ | - | $ | - | $ | 5,128 | $ | 5,128 | ||||||
Commercial real estate | - | - | 5,705 | 5,705 | ||||||||||
Commercial business | - | - | 145 | 145 | ||||||||||
Consumer | - | - | 342 | 342 | ||||||||||
Total impaired loans | $ | - | $ | - | $ | 11,320 | $ | 11,320 | ||||||
Loans held for sale | $ | - | $ | 281 | $ | - | $ | 281 | ||||||
Other real estate owned, held for sale: | ||||||||||||||
Residential real estate | $ | - | $ | - | $ | 518 | $ | 518 | ||||||
Commercial real estate | - | - | 377 | 377 | ||||||||||
Land and land development | - | - | 58 | 58 | ||||||||||
Total other real estate owned | $ | - | $ | - | $ | 953 | $ | 953 | ||||||
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments | The carrying amounts and estimated fair values of the Company's financial instruments are as follows: | |||||||||||||
Carrying | Fair Value Measurements Using: | |||||||||||||
March 31, 2015: | Amount | Level 1 | Level 2 | Level 3 | ||||||||||
(In thousands) | ||||||||||||||
Financial assets: | ||||||||||||||
Cash and due from banks | $ | 9,875 | $ | 9,875 | $ | - | $ | - | ||||||
Interest-bearing deposits with banks | 10,322 | 10,322 | - | - | ||||||||||
Interest-bearing time deposits | 2,235 | - | 2,239 | - | ||||||||||
Trading account securities | 5,229 | - | 5,229 | - | ||||||||||
Securities available for sale | 183,375 | - | 183,375 | - | ||||||||||
Securities held to maturity | 5,012 | - | 5,693 | - | ||||||||||
Loans, net | 445,024 | - | - | 444,998 | ||||||||||
Loans held for sale | 320 | - | 320 | - | ||||||||||
FRB and FHLB stock | 7,462 | - | 7,462 | - | ||||||||||
Accrued interest receivable | 2,510 | - | 2,510 | - | ||||||||||
Investment in historic tax credit entity (included in other assets) | 4,169 | - | 4,169 | - | ||||||||||
Financial liabilities: | ||||||||||||||
Deposits | 536,937 | - | - | 540,128 | ||||||||||
Short-term repurchase agreements | 1,340 | - | 1,340 | - | ||||||||||
Borrowings from FHLB | 81,554 | - | 83,260 | - | ||||||||||
Other long-term debt | 4,724 | - | 4,724 | - | ||||||||||
Accrued interest payable | 179 | - | 179 | - | ||||||||||
Advance payments by borrowers for taxes and insurance | 747 | - | 747 | - | ||||||||||
Carrying | Fair Value Measurements Using: | |||||||||||||
September 30, 2014: | Amount | Level 1 | Level 2 | Level 3 | ||||||||||
(In thousands) | ||||||||||||||
Financial assets: | ||||||||||||||
Cash and due from banks | $ | 8,853 | $ | 8,853 | $ | - | $ | - | ||||||
Interest-bearing deposits with banks | 11,477 | 11,477 | - | - | ||||||||||
Interest-bearing time deposits | 1,500 | - | 1,496 | - | ||||||||||
Trading account securities | 5,319 | - | 5,319 | - | ||||||||||
Securities available for sale | 184,697 | - | 184,697 | - | ||||||||||
Securities held to maturity | 5,419 | - | 5,849 | - | ||||||||||
Loans, net | 433,876 | - | - | 434,023 | ||||||||||
Loans held for sale | 281 | - | 281 | - | ||||||||||
FHLB stock | 6,517 | - | 6,517 | - | ||||||||||
Accrued interest receivable | 2,511 | - | 2,511 | - | ||||||||||
Interest rate cap (included in other assets) | 1 | - | 1 | - | ||||||||||
Financial liabilities: | ||||||||||||||
Deposits | 533,194 | - | - | 535,364 | ||||||||||
Short-term repurchase agreements | 1,338 | - | 1,338 | - | ||||||||||
Borrowings from FHLB | 79,548 | - | 79,455 | - | ||||||||||
Other long-term debt | 4,812 | - | 4,812 | - | ||||||||||
Accrued interest payable | 175 | - | 175 | - | ||||||||||
Advance payments by borrowers for taxes and insurance | 748 | - | 748 | - | ||||||||||
Employee_Stock_Ownership_Plan_
Employee Stock Ownership Plan (Tables) | 6 Months Ended | |||||||
Mar. 31, 2015 | ||||||||
Employee Stock Ownership Plan (Esop), Shares In Esop [Abstract] | ||||||||
Schedule Of Employee Stock Ownership Plan Common Stock Held | Company common stock held by the ESOP trust at March 31, 2015 and September 30, 2014 was as follows: | |||||||
March 31, | September 30, | |||||||
2015 | 2014 | |||||||
Allocated shares | 157,972 | 132,339 | ||||||
Unearned shares | 28,073 | 53,706 | ||||||
Total ESOP shares | 186,045 | 186,045 | ||||||
Fair value of unearned shares | $ | 813,000 | $ | 1,341,000 | ||||
Stock_Based_Compensation_Plans1
Stock Based Compensation Plans (Tables) | 6 Months Ended | |||||||||||||
Mar. 31, 2015 | ||||||||||||||
Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract] | ||||||||||||||
Nonvested Restricted Shares Activity | A summary of the Company’s nonvested restricted shares activity under the Plan as of March 31, 2015 and changes during the six-month period then ended is presented below. | |||||||||||||
Weighted | ||||||||||||||
Number | Average | |||||||||||||
of | Grant Date | |||||||||||||
Shares | Fair Value | |||||||||||||
Nonvested at October 1, 2014 | 19,610 | $ | 13.25 | |||||||||||
Granted | - | - | ||||||||||||
Vested | -717 | $ | 13.25 | |||||||||||
Forfeited | - | - | ||||||||||||
Nonvested at March 31, 2015 | 18,893 | $ | 13.25 | |||||||||||
Stock Option Activity | A summary of stock option activity under the Plan as of March 31, 2015, and changes during the six-month period then ended is presented below. | |||||||||||||
Weighted | Weighted | |||||||||||||
Average | Average | |||||||||||||
Number | Exercise | Remaining | Aggregate | |||||||||||
of | Price | Contractual | Intrinsic | |||||||||||
Shares | Per Share | Term (years) | Value | |||||||||||
(Dollars in thousands, except per share data) | ||||||||||||||
Outstanding at October 1, 2014 | 234,232 | $ | 13.25 | 5.6 | $ | 2,743 | ||||||||
Granted | - | - | ||||||||||||
Exercised | -20,972 | $ | 13.25 | $ | 250 | |||||||||
Forfeited or expired | - | - | ||||||||||||
Outstanding at March 31, 2015 | 213,260 | $ | 13.25 | 5.1 | $ | 3,348 | ||||||||
Exercisable at March 31, 2015 | 166,009 | $ | 13.25 | 5.1 | $ | 2,606 | ||||||||
Investment_Securities_Amortize
Investment Securities (Amortized Cost And Fair Value Of Securities) (Detail) (USD $) | 6 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Sep. 30, 2014 |
Schedule of Cost-method Investments [Line Items] | ||
Available-for-Sale, Amortized Cost | $175,026 | $178,517 |
Available-for-Sale, Gross Unrealized Gains | 8,517 | 6,871 |
Available-for-Sale Gross Unrealized Losses | 168 | 691 |
Available-for-sale, Fair Value | 183,375 | 184,697 |
Held-to-Maturity, Amortized Cost | 5,012 | 5,419 |
Held-to-Maturity, Gross Unrealized Gains | 681 | 430 |
Held-to-Maturity, Gross Unrealized Losses | 0 | 0 |
Held-to-Maturity, Fair Value | 5,693 | 5,849 |
Agency bonds and notes | ||
Schedule of Cost-method Investments [Line Items] | ||
Available-for-Sale, Amortized Cost | 9,083 | 12,269 |
Available-for-Sale, Gross Unrealized Gains | 24 | 12 |
Available-for-Sale Gross Unrealized Losses | 6 | 190 |
Available-for-sale, Fair Value | 9,101 | 12,091 |
Agency-mortgage backed | ||
Schedule of Cost-method Investments [Line Items] | ||
Available-for-Sale, Amortized Cost | 48,508 | 51,845 |
Available-for-Sale, Gross Unrealized Gains | 1,001 | 518 |
Available-for-Sale Gross Unrealized Losses | 13 | 108 |
Available-for-sale, Fair Value | 49,496 | 52,255 |
Held-to-Maturity, Amortized Cost | 402 | 455 |
Held-to-Maturity, Gross Unrealized Gains | 33 | 37 |
Held-to-Maturity, Gross Unrealized Losses | 0 | 0 |
Held-to-Maturity, Fair Value | 435 | 492 |
Agency CMO | ||
Schedule of Cost-method Investments [Line Items] | ||
Available-for-Sale, Amortized Cost | 24,717 | 29,648 |
Available-for-Sale, Gross Unrealized Gains | 150 | 95 |
Available-for-Sale Gross Unrealized Losses | 103 | 259 |
Available-for-sale, Fair Value | 24,764 | 29,484 |
Privately-issued CMO | ||
Schedule of Cost-method Investments [Line Items] | ||
Available-for-Sale, Amortized Cost | 3,159 | 3,302 |
Available-for-Sale, Gross Unrealized Gains | 553 | 618 |
Available-for-Sale Gross Unrealized Losses | 0 | 0 |
Available-for-sale, Fair Value | 3,712 | 3,920 |
Privately-Issued ABS | ||
Schedule of Cost-method Investments [Line Items] | ||
Available-for-Sale, Amortized Cost | 5,208 | 5,552 |
Available-for-Sale, Gross Unrealized Gains | 1,572 | 1,801 |
Available-for-Sale Gross Unrealized Losses | 0 | 0 |
Available-for-sale, Fair Value | 6,780 | 7,353 |
SBA certificates | ||
Schedule of Cost-method Investments [Line Items] | ||
Available-for-Sale, Amortized Cost | 1,619 | 1,753 |
Available-for-Sale, Gross Unrealized Gains | 12 | 9 |
Available-for-Sale Gross Unrealized Losses | 0 | 0 |
Available-for-sale, Fair Value | 1,631 | 1,762 |
Held-to-Maturity, Amortized Cost | 0 | |
Held-to-Maturity, Fair Value | 0 | |
Municipal obligations | ||
Schedule of Cost-method Investments [Line Items] | ||
Available-for-Sale, Amortized Cost | 82,732 | 74,148 |
Available-for-Sale, Gross Unrealized Gains | 5,205 | 3,818 |
Available-for-Sale Gross Unrealized Losses | 46 | 134 |
Available-for-sale, Fair Value | 87,891 | 77,832 |
Held-to-Maturity, Amortized Cost | 4,610 | 4,964 |
Held-to-Maturity, Gross Unrealized Gains | 648 | 393 |
Held-to-Maturity, Gross Unrealized Losses | 0 | 0 |
Held-to-Maturity, Fair Value | $5,258 | $5,357 |
Investment_Securities_Amortize1
Investment Securities (Amortized Cost And Fair Value Of Investment Securities By Contractual Maturity) (Detail) (USD $) | Mar. 31, 2015 | Sep. 30, 2014 |
In Thousands, unless otherwise specified | ||
Investments Classified by Contractual Maturity Date [Line Items] | ||
Available for Sale, amortized cost, Due within one year | $530 | |
Available for Sale, amortized cost, Due after one year through five years | 5,374 | |
Available for Sale, amortized cost, Due after five years through ten years | 23,662 | |
Available for Sale, amortized cost, Due after ten years | 62,249 | |
Available-for-sale Securities, Debt Maturities, Amortized Cost Basis, Total | 91,815 | |
Available-for-Sale, Amortized Cost | 175,026 | 178,517 |
Available for Sale, fair value, Due within one year | 534 | |
Available for Sale, fair value, Due after one year through five years | 5,652 | |
Available for Sale, fair value, Due after five years through ten years | 25,094 | |
Available for Sale, fair value, Due after ten years | 65,712 | |
Available-for-sale Securities, Debt Maturities, Fair Value, Total | 96,992 | |
Available-for-sale, Fair Value | 183,375 | 184,697 |
Held to Maturity, amortized cost, Due within one year | 604 | |
Held to Maturity, amortized cost, Due after one year through five years | 1,779 | |
Held to Maturity, amortized cost, Due after five years through ten years | 1,386 | |
Held to Maturity, amortized cost, Due after ten years | 841 | |
Held-to-maturity Securities, Debt Maturities, Net Carrying Amount | 4,610 | |
Held-to-Maturity, Amortized Cost | 5,012 | 5,419 |
Held to Maturity, fair value, Due within one year | 655 | |
Held to Maturity, fair value, Due after one year through five years | 2,093 | |
Held to Maturity, fair value, Due after five years through ten years | 1,579 | |
Held to Maturity, fair value, Due after ten years | 931 | |
Held-to-maturity Securities, Debt Maturities, Fair Value | 5,258 | |
Held-to-Maturity, Fair Value | 5,693 | 5,849 |
Collateralized Mortgage Obligations | ||
Investments Classified by Contractual Maturity Date [Line Items] | ||
Available-for-Sale, Amortized Cost | 27,876 | |
Available-for-sale, Fair Value | 28,476 | |
Held-to-Maturity, Amortized Cost | 0 | |
Held-to-Maturity, Fair Value | 0 | |
Asset-backed Securities | ||
Investments Classified by Contractual Maturity Date [Line Items] | ||
Available-for-Sale, Amortized Cost | 5,208 | |
Available-for-sale, Fair Value | 6,780 | |
Held-to-Maturity, Amortized Cost | 0 | |
Held-to-Maturity, Fair Value | 0 | |
SBA certificates | ||
Investments Classified by Contractual Maturity Date [Line Items] | ||
Available-for-Sale, Amortized Cost | 1,619 | 1,753 |
Available-for-sale, Fair Value | 1,631 | |
Held-to-Maturity, Amortized Cost | 0 | |
Held-to-Maturity, Fair Value | 0 | |
Mortgage-backed securities | ||
Investments Classified by Contractual Maturity Date [Line Items] | ||
Available-for-Sale, Amortized Cost | 48,508 | |
Available-for-sale, Fair Value | 49,496 | |
Held-to-Maturity, Amortized Cost | 402 | |
Held-to-Maturity, Fair Value | $435 |
Investment_Securities_Availabl
Investment Securities (Available For Sale Securities With Gross Unrealized Losses By Investment Category And Length Of Time Individual Securities Have Been In Continuous Loss Position) (Detail) (USD $) | 6 Months Ended |
In Thousands, unless otherwise specified | Mar. 31, 2015 |
Number | |
Investments, Unrealized Loss Position [Line Items] | |
Securities available for sale, Continuous loss position less than twelve months, number of investment positions | 8 |
Securities available for sale, Continuous loss position more than twelve months, number of investment positions | 8 |
Securities available for sale, Number of Investment Positions | 16 |
Securities available for sale, Continuous loss position less than twelve months, gross fair value | $4,755 |
Securities available for sale, Continuous loss position more than twelve months, gross fair value | 14,157 |
Securities available for sale, Continuous loss position | 18,912 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than twelve Months, unrealized loss | 49 |
Available-for-sale Securities, Continuous Unrealized Loss Position, twelve Months or Longer, unrealized loss | 119 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss, Total | 168 |
Agency bonds and notes | |
Investments, Unrealized Loss Position [Line Items] | |
Securities available for sale, Continuous loss position more than twelve months, number of investment positions | 1 |
Securities available for sale, Continuous loss position more than twelve months, gross fair value | 1,995 |
Available-for-sale Securities, Continuous Unrealized Loss Position, twelve Months or Longer, unrealized loss | 6 |
Agency-mortgage backed | |
Investments, Unrealized Loss Position [Line Items] | |
Securities available for sale, Continuous loss position less than twelve months, number of investment positions | 1 |
Securities available for sale, Continuous loss position more than twelve months, number of investment positions | 2 |
Securities available for sale, Continuous loss position less than twelve months, gross fair value | 1,204 |
Securities available for sale, Continuous loss position more than twelve months, gross fair value | 2,218 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than twelve Months, unrealized loss | 1 |
Available-for-sale Securities, Continuous Unrealized Loss Position, twelve Months or Longer, unrealized loss | 12 |
Agency CMO | |
Investments, Unrealized Loss Position [Line Items] | |
Securities available for sale, Continuous loss position less than twelve months, number of investment positions | 2 |
Securities available for sale, Continuous loss position more than twelve months, number of investment positions | 3 |
Securities available for sale, Continuous loss position less than twelve months, gross fair value | 436 |
Securities available for sale, Continuous loss position more than twelve months, gross fair value | 8,664 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than twelve Months, unrealized loss | 6 |
Available-for-sale Securities, Continuous Unrealized Loss Position, twelve Months or Longer, unrealized loss | 97 |
Municipal obligations | |
Investments, Unrealized Loss Position [Line Items] | |
Securities available for sale, Continuous loss position less than twelve months, number of investment positions | 5 |
Securities available for sale, Continuous loss position more than twelve months, number of investment positions | 2 |
Securities available for sale, Continuous loss position less than twelve months, gross fair value | 3,115 |
Securities available for sale, Continuous loss position more than twelve months, gross fair value | 1,280 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than twelve Months, unrealized loss | 42 |
Available-for-sale Securities, Continuous Unrealized Loss Position, twelve Months or Longer, unrealized loss | $4 |
Investment_Securities_Addition
Investment Securities (Additional Information) (Detail) (USD $) | 3 Months Ended | 6 Months Ended | |||
Mar. 31, 2015 | Mar. 31, 2014 | Mar. 31, 2015 | Mar. 31, 2014 | Sep. 30, 2014 | |
Investment Securities [Line Items] | |||||
Net gain on trading account securities | $89,000 | $205,000 | $160,000 | $362,000 | |
Net realized gain on trading account securities | 83,000 | 252,000 | 159,000 | 418,000 | |
Trading Securities, Unrealized Holding Gain | 6,000 | 1,000 | |||
Trading Securities, Unrealized Holding Loss | 47,000 | 56,000 | |||
Weighted Average Yield Of Available For Sale Securities In Loss Positions | 1.58% | 1.58% | |||
Weighted Average Coupon Rate Available For Sale Securities In Loss Positions | 3.28% | 3.28% | |||
Gain (Loss) On Sale Of Securities, Net | 0 | 0 | 0 | 1,000 | |
Trading Securities | 5,229,000 | 5,229,000 | 5,319,000 | ||
US Treasury and Government [Member] | |||||
Investment Securities [Line Items] | |||||
Gain (Loss) On Sale Of Securities, Net | 1,000 | ||||
Debt Securities | |||||
Investment Securities [Line Items] | |||||
Available for sale debt securities in loss position, depreciation percentage | 0.88% | 0.88% | |||
Debt Securities | Downgraded Due To Potential Credit Losses | |||||
Investment Securities [Line Items] | |||||
Downgraded due to potential credit losses | 2,800,000 | 2,800,000 | |||
Debt Securities | Downgraded Privately Issued CMOs | |||||
Investment Securities [Line Items] | |||||
Fair market value of downgraded privately-issued CMOs | $4,100,000 | $4,100,000 |
Loans_and_Allowance_for_Loan_L2
Loans and Allowance for Loan Losses (Loans) (Detail) (USD $) | Mar. 31, 2015 | Sep. 30, 2014 |
In Thousands, unless otherwise specified | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Gross loans | $459,696 | $446,387 |
Undisbursed portion of construction loans | -8,110 | -6,271 |
Principal loan balance | 451,586 | 440,116 |
Deferred loan origination fees and costs, net | -48 | 10 |
Allowance for loan losses | -6,514 | -6,250 |
Loans, net | 445,024 | 433,876 |
Residential real estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Principal loan balance | 180,155 | 182,743 |
Deferred loan origination fees and costs, net | 306 | 337 |
Commercial real estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Principal loan balance | 163,855 | 153,896 |
Deferred loan origination fees and costs, net | -279 | -252 |
Multi-family residential | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Principal loan balance | 23,097 | 21,286 |
Deferred loan origination fees and costs, net | -25 | -28 |
Commercial construction Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Principal loan balance | 16,982 | 16,611 |
Deferred loan origination fees and costs, net | -50 | -54 |
Land and land development | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Principal loan balance | 11,738 | 11,290 |
Deferred loan origination fees and costs, net | 4 | 4 |
Commercial business loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Principal loan balance | 30,240 | 28,448 |
Deferred loan origination fees and costs, net | -7 | -9 |
Real estate mortgage | Residential real estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Gross loans | 180,155 | 182,743 |
Real estate mortgage | Commercial real estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Gross loans | 163,855 | 153,896 |
Real estate mortgage | Multi-family residential | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Gross loans | 23,097 | 21,286 |
Real estate mortgage | Residential Construction | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Gross loans | 17,301 | 14,528 |
Real estate mortgage | Commercial construction Loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Gross loans | 7,791 | 8,354 |
Real estate mortgage | Land and land development | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Gross loans | 11,738 | 11,290 |
Real estate mortgage | Commercial business loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Gross loans | 30,240 | 28,448 |
Consumer | Home equity loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Gross loans | 17,828 | 17,903 |
Consumer | Auto loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Gross loans | 5,480 | 5,619 |
Consumer | Other consumer loans | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Gross loans | $2,211 | $2,320 |
Loans_and_Allowance_for_Loan_L3
Loans and Allowance for Loan Losses (Components Of Recorded Investment In Loans For Each Portfolio Class) (Detail) (USD $) | Mar. 31, 2015 | Sep. 30, 2014 |
In Thousands, unless otherwise specified | ||
Recorded Investment in Loans: | ||
Principal loan balance | $451,586 | $440,116 |
Accrued interest receivable | 1,227 | 1,276 |
Net deferred loan origination fees and costs | -48 | 10 |
Recorded investment in loans | 452,765 | 441,402 |
Recorded Investment in Loans as Evaluated for Impairment: | ||
Individually evaluated for impairment | 10,902 | 11,066 |
Collectively evaluated for impairment | 441,358 | 429,798 |
Acquired with deteriorated credit quality | 505 | 538 |
Recorded investment in loans | 452,765 | 441,402 |
Residential real estate | ||
Recorded Investment in Loans: | ||
Principal loan balance | 180,155 | 182,743 |
Accrued interest receivable | 552 | 590 |
Net deferred loan origination fees and costs | 306 | 337 |
Recorded investment in loans | 181,013 | 183,670 |
Recorded Investment in Loans as Evaluated for Impairment: | ||
Individually evaluated for impairment | 4,535 | 4,866 |
Collectively evaluated for impairment | 176,004 | 178,298 |
Acquired with deteriorated credit quality | 474 | 506 |
Recorded investment in loans | 181,013 | 183,670 |
Commercial real estate | ||
Recorded Investment in Loans: | ||
Principal loan balance | 163,855 | 153,896 |
Accrued interest receivable | 417 | 384 |
Net deferred loan origination fees and costs | -279 | -252 |
Recorded investment in loans | 163,993 | 154,028 |
Recorded Investment in Loans as Evaluated for Impairment: | ||
Individually evaluated for impairment | 5,671 | 5,705 |
Collectively evaluated for impairment | 158,322 | 148,323 |
Acquired with deteriorated credit quality | 0 | 0 |
Recorded investment in loans | 163,993 | 154,028 |
Multi-family residential | ||
Recorded Investment in Loans: | ||
Principal loan balance | 23,097 | 21,286 |
Accrued interest receivable | 55 | 53 |
Net deferred loan origination fees and costs | -25 | -28 |
Recorded investment in loans | 23,127 | 21,311 |
Recorded Investment in Loans as Evaluated for Impairment: | ||
Individually evaluated for impairment | 0 | 0 |
Collectively evaluated for impairment | 23,127 | 21,311 |
Acquired with deteriorated credit quality | 0 | 0 |
Recorded investment in loans | 23,127 | 21,311 |
Construction Loans | ||
Recorded Investment in Loans: | ||
Principal loan balance | 16,982 | 16,611 |
Accrued interest receivable | 29 | 44 |
Net deferred loan origination fees and costs | -50 | -54 |
Recorded investment in loans | 16,961 | 16,601 |
Recorded Investment in Loans as Evaluated for Impairment: | ||
Individually evaluated for impairment | 0 | 0 |
Collectively evaluated for impairment | 16,961 | 16,601 |
Acquired with deteriorated credit quality | 0 | 0 |
Recorded investment in loans | 16,961 | 16,601 |
Land and land development | ||
Recorded Investment in Loans: | ||
Principal loan balance | 11,738 | 11,290 |
Accrued interest receivable | 29 | 31 |
Net deferred loan origination fees and costs | 4 | 4 |
Recorded investment in loans | 11,771 | 11,325 |
Recorded Investment in Loans as Evaluated for Impairment: | ||
Individually evaluated for impairment | 0 | 0 |
Collectively evaluated for impairment | 11,771 | 11,325 |
Acquired with deteriorated credit quality | 0 | 0 |
Recorded investment in loans | 11,771 | 11,325 |
Commercial business loans | ||
Recorded Investment in Loans: | ||
Principal loan balance | 30,240 | 28,448 |
Accrued interest receivable | 88 | 111 |
Net deferred loan origination fees and costs | -7 | -9 |
Recorded investment in loans | 30,321 | 28,550 |
Recorded Investment in Loans as Evaluated for Impairment: | ||
Individually evaluated for impairment | 369 | 145 |
Collectively evaluated for impairment | 29,952 | 28,405 |
Acquired with deteriorated credit quality | 0 | 0 |
Recorded investment in loans | 30,321 | 28,550 |
Consumer | ||
Recorded Investment in Loans: | ||
Principal loan balance | 25,519 | 25,842 |
Accrued interest receivable | 57 | 63 |
Net deferred loan origination fees and costs | 3 | 12 |
Recorded investment in loans | 25,579 | 25,917 |
Recorded Investment in Loans as Evaluated for Impairment: | ||
Individually evaluated for impairment | 327 | 350 |
Collectively evaluated for impairment | 25,221 | 25,535 |
Acquired with deteriorated credit quality | 31 | 32 |
Recorded investment in loans | $25,579 | $25,917 |
Loans_and_Allowance_for_Loan_L4
Loans and Allowance for Loan Losses (Allowance For Loan Losses) (Detail) (USD $) | 3 Months Ended | 6 Months Ended | |||
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Mar. 31, 2015 | Mar. 31, 2014 | Sep. 30, 2014 |
Ending Allowance Balance Attributable to Loans: | |||||
Individually evaluated for impairment | $65 | $65 | $21 | ||
Collectively evaluated for impairment | 6,449 | 6,449 | 6,229 | ||
Acquired with deteriorated credit quality | 0 | 0 | 0 | ||
Ending balance | 6,514 | 6,060 | 6,514 | 6,060 | |
Changes in Allowance for Loan Losses: | |||||
Beginning balance | 6,450 | 5,971 | 6,250 | 5,538 | |
Provisions | 212 | 303 | 419 | 604 | |
Charge-offs | -172 | -234 | -216 | -340 | |
Recoveries | 24 | 20 | 61 | 258 | |
Ending balance | 6,514 | 6,060 | 6,514 | 6,060 | |
Residential real estate | |||||
Ending Allowance Balance Attributable to Loans: | |||||
Individually evaluated for impairment | 10 | 10 | 13 | ||
Collectively evaluated for impairment | 447 | 447 | 564 | ||
Acquired with deteriorated credit quality | 0 | 0 | 0 | ||
Ending balance | 457 | 626 | 457 | 626 | |
Changes in Allowance for Loan Losses: | |||||
Beginning balance | 442 | 660 | 577 | 780 | |
Provisions | 145 | -15 | -2 | -61 | |
Charge-offs | -131 | -21 | -143 | -97 | |
Recoveries | 1 | 2 | 25 | 4 | |
Ending balance | 457 | 626 | 457 | 626 | |
Commercial real estate | |||||
Ending Allowance Balance Attributable to Loans: | |||||
Individually evaluated for impairment | 1 | 1 | 0 | ||
Collectively evaluated for impairment | 4,108 | 4,108 | 3,808 | ||
Acquired with deteriorated credit quality | 0 | 0 | 0 | ||
Ending balance | 4,109 | 3,440 | 4,109 | 3,440 | |
Changes in Allowance for Loan Losses: | |||||
Beginning balance | 4,217 | 3,080 | 3,808 | 2,826 | |
Provisions | -108 | 504 | 301 | 539 | |
Charge-offs | 0 | -144 | 0 | -144 | |
Recoveries | 0 | 0 | 0 | 219 | |
Ending balance | 4,109 | 3,440 | 4,109 | 3,440 | |
Multi-family residential | |||||
Ending Allowance Balance Attributable to Loans: | |||||
Individually evaluated for impairment | 0 | 0 | 0 | ||
Collectively evaluated for impairment | 163 | 163 | 146 | ||
Acquired with deteriorated credit quality | 0 | 0 | 0 | ||
Ending balance | 163 | 271 | 163 | 271 | |
Changes in Allowance for Loan Losses: | |||||
Beginning balance | 163 | 253 | 146 | 249 | |
Provisions | 0 | 18 | 17 | 22 | |
Charge-offs | 0 | 0 | 0 | 0 | |
Recoveries | 0 | 0 | 0 | 0 | |
Ending balance | 163 | 271 | 163 | 271 | |
Construction Loans | |||||
Ending Allowance Balance Attributable to Loans: | |||||
Individually evaluated for impairment | 0 | 0 | 0 | ||
Collectively evaluated for impairment | 455 | 455 | 443 | ||
Acquired with deteriorated credit quality | 0 | 0 | 0 | ||
Ending balance | 455 | 222 | 455 | 222 | |
Changes in Allowance for Loan Losses: | |||||
Beginning balance | 344 | 255 | 443 | 229 | |
Provisions | 111 | -33 | 12 | -7 | |
Charge-offs | 0 | 0 | 0 | 0 | |
Recoveries | 0 | 0 | 0 | 0 | |
Ending balance | 455 | 222 | 455 | 222 | |
Land and land development | |||||
Ending Allowance Balance Attributable to Loans: | |||||
Individually evaluated for impairment | 0 | 0 | 0 | ||
Collectively evaluated for impairment | 316 | 316 | 302 | ||
Acquired with deteriorated credit quality | 0 | 0 | 0 | ||
Ending balance | 316 | 356 | 316 | 356 | |
Changes in Allowance for Loan Losses: | |||||
Beginning balance | 299 | 367 | 302 | 299 | |
Provisions | 17 | -11 | 14 | 57 | |
Charge-offs | 0 | 0 | 0 | 0 | |
Recoveries | 0 | 0 | 0 | 0 | |
Ending balance | 316 | 356 | 316 | 356 | |
Commercial business loans | |||||
Ending Allowance Balance Attributable to Loans: | |||||
Individually evaluated for impairment | 48 | 48 | 0 | ||
Collectively evaluated for impairment | 838 | 838 | 795 | ||
Acquired with deteriorated credit quality | 0 | 0 | 0 | ||
Ending balance | 886 | 907 | 886 | 907 | |
Changes in Allowance for Loan Losses: | |||||
Beginning balance | 826 | 1,070 | 795 | 907 | |
Provisions | 59 | -163 | 90 | 0 | |
Charge-offs | 0 | 0 | 0 | 0 | |
Recoveries | 1 | 0 | 1 | 0 | |
Ending balance | 886 | 907 | 886 | 907 | |
Consumer | |||||
Ending Allowance Balance Attributable to Loans: | |||||
Individually evaluated for impairment | 6 | 6 | 8 | ||
Collectively evaluated for impairment | 122 | 122 | 171 | ||
Acquired with deteriorated credit quality | 0 | 0 | 0 | ||
Ending balance | 128 | 238 | 128 | 238 | |
Changes in Allowance for Loan Losses: | |||||
Beginning balance | 159 | 286 | 179 | 248 | |
Provisions | -12 | 3 | -13 | 54 | |
Charge-offs | -41 | -69 | -73 | -99 | |
Recoveries | 22 | 18 | 35 | 35 | |
Ending balance | $128 | $238 | $128 | $238 |
Loans_and_Allowance_for_Loan_L5
Loans and Allowance for Loan Losses (Impaired Loans Individually Evaluated For Impairment) (Detail) (USD $) | 3 Months Ended | 6 Months Ended | |||
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Mar. 31, 2015 | Mar. 31, 2014 | Sep. 30, 2014 |
Financing Receivable, Impaired [Line Items] | |||||
Loans with no related allowance recorded, Recorded Investment | $10,907 | $10,907 | $11,079 | ||
Loans with no related allowance recorded, Unpaid Principal Balance | 11,543 | 11,543 | 11,556 | ||
Loans with no related allowance recorded, Average Recorded Investment | 11,866 | 14,816 | 11,895 | 15,090 | |
Loans with no related allowance recorded, Interest Income Recognized | 94 | 117 | 189 | 236 | |
Loans with an allowance recorded, Recorded Investment | 247 | 247 | 262 | ||
Loans with an allowance recorded, Unpaid Principal Balance | 244 | 244 | 261 | ||
Loans with an allowance recorded, Related Allowance | 65 | 65 | 21 | ||
Loans with an allowance recorded, Average Recorded Investment | 245 | 152 | 253 | 151 | |
Total, Recorded Investment | 11,154 | 11,154 | 11,341 | ||
Total, Unpaid Principal Balance | 11,787 | 11,787 | 11,817 | ||
Total, Related Allowance | 65 | 65 | 21 | ||
Total, Average Recorded Investment | 12,111 | 14,968 | 12,148 | 15,241 | |
Total, Interest Income Recognized | 94 | 117 | 189 | 236 | |
Residential real estate | |||||
Financing Receivable, Impaired [Line Items] | |||||
Loans with no related allowance recorded, Recorded Investment | 4,712 | 4,712 | 4,974 | ||
Loans with no related allowance recorded, Unpaid Principal Balance | 5,319 | 5,319 | 5,426 | ||
Loans with no related allowance recorded, Average Recorded Investment | 5,685 | 6,023 | 5,729 | 6,166 | |
Loans with no related allowance recorded, Interest Income Recognized | 37 | 34 | 72 | 65 | |
Loans with an allowance recorded, Recorded Investment | 75 | 75 | 167 | ||
Loans with an allowance recorded, Unpaid Principal Balance | 73 | 73 | 166 | ||
Loans with an allowance recorded, Related Allowance | 10 | 10 | 13 | ||
Loans with an allowance recorded, Average Recorded Investment | 142 | 55 | 152 | 55 | |
Total, Recorded Investment | 4,787 | 4,787 | 5,141 | ||
Total, Unpaid Principal Balance | 5,392 | 5,392 | 5,592 | ||
Total, Related Allowance | 10 | 10 | 13 | ||
Total, Average Recorded Investment | 5,827 | 6,078 | 5,881 | 6,221 | |
Total, Interest Income Recognized | 37 | 34 | 72 | 65 | |
Commercial real estate | |||||
Financing Receivable, Impaired [Line Items] | |||||
Loans with no related allowance recorded, Recorded Investment | 5,648 | 5,648 | 5,705 | ||
Loans with no related allowance recorded, Unpaid Principal Balance | 5,687 | 5,687 | 5,739 | ||
Loans with no related allowance recorded, Average Recorded Investment | 5,689 | 5,822 | 5,702 | 5,934 | |
Loans with no related allowance recorded, Interest Income Recognized | 55 | 53 | 113 | 111 | |
Loans with an allowance recorded, Recorded Investment | 23 | 23 | 0 | ||
Loans with an allowance recorded, Unpaid Principal Balance | 22 | 22 | 0 | ||
Loans with an allowance recorded, Related Allowance | 1 | 1 | 0 | ||
Loans with an allowance recorded, Average Recorded Investment | 6 | 0 | 3 | 0 | |
Total, Recorded Investment | 5,671 | 5,671 | 5,705 | ||
Total, Unpaid Principal Balance | 5,709 | 5,709 | 5,739 | ||
Total, Related Allowance | 1 | 1 | 0 | ||
Total, Average Recorded Investment | 5,695 | 5,822 | 5,705 | 5,934 | |
Total, Interest Income Recognized | 55 | 53 | 113 | 111 | |
Multi-family residential | |||||
Financing Receivable, Impaired [Line Items] | |||||
Loans with no related allowance recorded, Recorded Investment | 0 | 0 | 0 | ||
Loans with no related allowance recorded, Unpaid Principal Balance | 0 | 0 | 0 | ||
Loans with no related allowance recorded, Average Recorded Investment | 0 | 2,227 | 0 | 2,234 | |
Loans with no related allowance recorded, Interest Income Recognized | 0 | 28 | 0 | 56 | |
Loans with an allowance recorded, Recorded Investment | 0 | 0 | 0 | ||
Loans with an allowance recorded, Unpaid Principal Balance | 0 | 0 | 0 | ||
Loans with an allowance recorded, Related Allowance | 0 | 0 | 0 | ||
Loans with an allowance recorded, Average Recorded Investment | 0 | 0 | 0 | 0 | |
Total, Recorded Investment | 0 | 0 | 0 | ||
Total, Unpaid Principal Balance | 0 | 0 | 0 | ||
Total, Related Allowance | 0 | 0 | 0 | ||
Total, Average Recorded Investment | 0 | 2,227 | 0 | 2,234 | |
Total, Interest Income Recognized | 0 | 28 | 0 | 56 | |
Construction Loans | |||||
Financing Receivable, Impaired [Line Items] | |||||
Loans with no related allowance recorded, Recorded Investment | 0 | 0 | 0 | ||
Loans with no related allowance recorded, Unpaid Principal Balance | 0 | 0 | 0 | ||
Loans with no related allowance recorded, Average Recorded Investment | 0 | 0 | 0 | 0 | |
Loans with no related allowance recorded, Interest Income Recognized | 0 | 0 | 0 | 0 | |
Loans with an allowance recorded, Recorded Investment | 0 | 0 | 0 | ||
Loans with an allowance recorded, Unpaid Principal Balance | 0 | 0 | 0 | ||
Loans with an allowance recorded, Related Allowance | 0 | 0 | 0 | ||
Loans with an allowance recorded, Average Recorded Investment | 0 | 0 | 0 | 0 | |
Total, Recorded Investment | 0 | 0 | 0 | ||
Total, Unpaid Principal Balance | 0 | 0 | 0 | ||
Total, Related Allowance | 0 | 0 | 0 | ||
Total, Average Recorded Investment | 0 | 0 | 0 | 0 | |
Total, Interest Income Recognized | 0 | 0 | 0 | 0 | |
Land and land development | |||||
Financing Receivable, Impaired [Line Items] | |||||
Loans with no related allowance recorded, Recorded Investment | 0 | 0 | 0 | ||
Loans with no related allowance recorded, Unpaid Principal Balance | 0 | 0 | 0 | ||
Loans with no related allowance recorded, Average Recorded Investment | 0 | 0 | 0 | 0 | |
Loans with no related allowance recorded, Interest Income Recognized | 0 | 0 | 0 | 0 | |
Loans with an allowance recorded, Recorded Investment | 0 | 0 | 0 | ||
Loans with an allowance recorded, Unpaid Principal Balance | 0 | 0 | 0 | ||
Loans with an allowance recorded, Related Allowance | 0 | 0 | 0 | ||
Loans with an allowance recorded, Average Recorded Investment | 0 | 0 | 0 | 0 | |
Total, Recorded Investment | 0 | 0 | 0 | ||
Total, Unpaid Principal Balance | 0 | 0 | 0 | ||
Total, Related Allowance | 0 | 0 | 0 | ||
Total, Average Recorded Investment | 0 | 0 | 0 | 0 | |
Total, Interest Income Recognized | 0 | 0 | 0 | 0 | |
Commercial business loans | |||||
Financing Receivable, Impaired [Line Items] | |||||
Loans with no related allowance recorded, Recorded Investment | 321 | 321 | 145 | ||
Loans with no related allowance recorded, Unpaid Principal Balance | 306 | 306 | 133 | ||
Loans with no related allowance recorded, Average Recorded Investment | 254 | 446 | 216 | 446 | |
Loans with no related allowance recorded, Interest Income Recognized | 1 | 1 | 1 | 1 | |
Loans with an allowance recorded, Recorded Investment | 48 | 48 | 0 | ||
Loans with an allowance recorded, Unpaid Principal Balance | 48 | 48 | 0 | ||
Loans with an allowance recorded, Related Allowance | 48 | 48 | 0 | ||
Loans with an allowance recorded, Average Recorded Investment | 12 | 0 | 7 | 0 | |
Total, Recorded Investment | 369 | 369 | 145 | ||
Total, Unpaid Principal Balance | 354 | 354 | 133 | ||
Total, Related Allowance | 48 | 48 | 0 | ||
Total, Average Recorded Investment | 266 | 446 | 223 | 446 | |
Total, Interest Income Recognized | 1 | 1 | 1 | 1 | |
Consumer | |||||
Financing Receivable, Impaired [Line Items] | |||||
Loans with no related allowance recorded, Recorded Investment | 226 | 226 | 255 | ||
Loans with no related allowance recorded, Unpaid Principal Balance | 231 | 231 | 258 | ||
Loans with no related allowance recorded, Average Recorded Investment | 238 | 298 | 248 | 310 | |
Loans with no related allowance recorded, Interest Income Recognized | 1 | 1 | 3 | 3 | |
Loans with an allowance recorded, Recorded Investment | 101 | 101 | 95 | ||
Loans with an allowance recorded, Unpaid Principal Balance | 101 | 101 | 95 | ||
Loans with an allowance recorded, Related Allowance | 6 | 6 | 8 | ||
Loans with an allowance recorded, Average Recorded Investment | 85 | 97 | 91 | 96 | |
Total, Recorded Investment | 327 | 327 | 350 | ||
Total, Unpaid Principal Balance | 332 | 332 | 353 | ||
Total, Related Allowance | 6 | 6 | 8 | ||
Total, Average Recorded Investment | 323 | 395 | 339 | 406 | |
Total, Interest Income Recognized | $1 | $1 | $3 | $3 |
Loans_and_Allowance_for_Loan_L6
Loans and Allowance for Loan Losses (Recorded Investment In Nonperforming Loans By Class Of Loans) (Detail) (USD $) | Mar. 31, 2015 | Sep. 30, 2014 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Non accrual Loans | $2,839 | $3,804 |
Loans 90+ Days Past Due Still Accruing | 1,049 | 478 |
Total Nonperforming Loans | 3,888 | 4,282 |
Residential real estate | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Non accrual Loans | 1,893 | 2,431 |
Loans 90+ Days Past Due Still Accruing | 625 | 458 |
Total Nonperforming Loans | 2,518 | 2,889 |
Commercial real estate | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Non accrual Loans | 397 | 1,034 |
Loans 90+ Days Past Due Still Accruing | 0 | 0 |
Total Nonperforming Loans | 397 | 1,034 |
Multi-family residential | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Non accrual Loans | 0 | 0 |
Loans 90+ Days Past Due Still Accruing | 294 | 0 |
Total Nonperforming Loans | 294 | 0 |
Construction Loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Non accrual Loans | 0 | 0 |
Loans 90+ Days Past Due Still Accruing | 0 | 0 |
Total Nonperforming Loans | 0 | 0 |
Land and land development | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Non accrual Loans | 0 | 0 |
Loans 90+ Days Past Due Still Accruing | 0 | 0 |
Total Nonperforming Loans | 0 | 0 |
Commercial business loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Non accrual Loans | 350 | 123 |
Loans 90+ Days Past Due Still Accruing | 106 | 0 |
Total Nonperforming Loans | 456 | 123 |
Consumer | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Non accrual Loans | 199 | 216 |
Loans 90+ Days Past Due Still Accruing | 24 | 20 |
Total Nonperforming Loans | $223 | $236 |
Loans_and_Allowance_for_Loan_L7
Loans and Allowance for Loan Losses (Aging of Recorded Investment in Past Due Loans) (Detail) (USD $) | Mar. 31, 2015 | Sep. 30, 2014 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-59 Days Past Due | $5,612 | $5,209 |
60-89 Days Past Due | 377 | 1,977 |
90 + Days Past Due | 2,777 | 2,077 |
Total Past Due | 8,766 | 9,263 |
Current | 443,999 | 432,139 |
Recorded investment in loans | 452,765 | 441,402 |
Residential real estate | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-59 Days Past Due | 3,951 | 4,493 |
60-89 Days Past Due | 197 | 1,639 |
90 + Days Past Due | 1,770 | 1,823 |
Total Past Due | 5,918 | 7,955 |
Current | 175,095 | 175,715 |
Recorded investment in loans | 181,013 | 183,670 |
Commercial real estate | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-59 Days Past Due | 1,529 | 115 |
60-89 Days Past Due | 125 | 54 |
90 + Days Past Due | 196 | 59 |
Total Past Due | 1,850 | 228 |
Current | 162,143 | 153,800 |
Recorded investment in loans | 163,993 | 154,028 |
Multi-family residential | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-59 Days Past Due | 0 | 297 |
60-89 Days Past Due | 0 | 0 |
90 + Days Past Due | 294 | 0 |
Total Past Due | 294 | 297 |
Current | 22,833 | 21,014 |
Recorded investment in loans | 23,127 | 21,311 |
Construction Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-59 Days Past Due | 0 | 0 |
60-89 Days Past Due | 0 | 0 |
90 + Days Past Due | 0 | 0 |
Total Past Due | 0 | 0 |
Current | 16,961 | 16,601 |
Recorded investment in loans | 16,961 | 16,601 |
Land and land development | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-59 Days Past Due | 5 | 6 |
60-89 Days Past Due | 0 | 205 |
90 + Days Past Due | 0 | 0 |
Total Past Due | 5 | 211 |
Current | 11,766 | 11,114 |
Recorded investment in loans | 11,771 | 11,325 |
Commercial business loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-59 Days Past Due | 11 | 259 |
60-89 Days Past Due | 31 | 0 |
90 + Days Past Due | 456 | 123 |
Total Past Due | 498 | 382 |
Current | 29,823 | 28,168 |
Recorded investment in loans | 30,321 | 28,550 |
Consumer | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-59 Days Past Due | 116 | 39 |
60-89 Days Past Due | 24 | 79 |
90 + Days Past Due | 61 | 72 |
Total Past Due | 201 | 190 |
Current | 25,378 | 25,727 |
Recorded investment in loans | $25,579 | $25,917 |
Loans_and_Allowance_for_Loan_L8
Loans and Allowance for Loan Losses (Recorded Investment in Loans by Risk Category) (Detail) (USD $) | Mar. 31, 2015 | Sep. 30, 2014 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | $452,765 | $441,402 |
Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 422,411 | 414,392 |
Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 18,462 | 14,832 |
Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 11,688 | 11,954 |
Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 204 | 224 |
Loss [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 0 | 0 |
Residential real estate | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 181,013 | 183,670 |
Residential real estate | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 170,437 | 172,822 |
Residential real estate | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 4,436 | 4,233 |
Residential real estate | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 5,942 | 6,398 |
Residential real estate | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 198 | 217 |
Residential real estate | Loss [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 0 | 0 |
Commercial real estate | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 163,993 | 154,028 |
Commercial real estate | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 145,326 | 138,854 |
Commercial real estate | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 13,733 | 10,226 |
Commercial real estate | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 4,934 | 4,948 |
Commercial real estate | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 0 | 0 |
Commercial real estate | Loss [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 0 | 0 |
Multi-family residential | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 23,127 | 21,311 |
Multi-family residential | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 23,127 | 21,311 |
Multi-family residential | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 0 | 0 |
Multi-family residential | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 0 | 0 |
Multi-family residential | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 0 | 0 |
Multi-family residential | Loss [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 0 | 0 |
Construction Loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 16,961 | 16,601 |
Construction Loans | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 16,961 | 16,601 |
Construction Loans | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 0 | 0 |
Construction Loans | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 0 | 0 |
Construction Loans | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 0 | 0 |
Construction Loans | Loss [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 0 | 0 |
Land and land development | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 11,771 | 11,325 |
Land and land development | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 11,670 | 11,206 |
Land and land development | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 5 | 6 |
Land and land development | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 96 | 113 |
Land and land development | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 0 | 0 |
Land and land development | Loss [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 0 | 0 |
Commercial business loans | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 30,321 | 28,550 |
Commercial business loans | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 29,738 | 28,127 |
Commercial business loans | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 211 | 278 |
Commercial business loans | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 372 | 145 |
Commercial business loans | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 0 | 0 |
Commercial business loans | Loss [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 0 | 0 |
Consumer | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 25,579 | 25,917 |
Consumer | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 25,152 | 25,471 |
Consumer | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 77 | 89 |
Consumer | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 344 | 350 |
Consumer | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 6 | 7 |
Consumer | Loss [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | $0 | $0 |
Loans_and_Allowance_for_Loan_L9
Loans and Allowance for Loan Losses (Recorded Investment in Troubled Debt Restructurings by Class of Loan and Accrual Status) (Detail) (USD $) | Mar. 31, 2015 | Sep. 30, 2014 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Modifications [Line Items] | ||
Accruing | $8,315 | $7,537 |
Non accrual | 147 | 910 |
Total | 8,462 | 8,447 |
Residential real estate | ||
Financing Receivable, Modifications [Line Items] | ||
Accruing | 2,894 | 2,710 |
Non accrual | 147 | 214 |
Total | 3,041 | 2,924 |
Commercial real estate | ||
Financing Receivable, Modifications [Line Items] | ||
Accruing | 5,274 | 4,671 |
Non accrual | 0 | 696 |
Total | 5,274 | 5,367 |
Commercial business | ||
Financing Receivable, Modifications [Line Items] | ||
Accruing | 19 | 22 |
Non accrual | 0 | 0 |
Total | 19 | 22 |
Consumer | ||
Financing Receivable, Modifications [Line Items] | ||
Accruing | 128 | 134 |
Non accrual | 0 | 0 |
Total | $128 | $134 |
Recovered_Sheet1
Loans and Allowance for Loan Losses (Troubled Debt Restructurings) (Detail) (USD $) | 3 Months Ended | 6 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2015 | Mar. 31, 2014 |
Number | Number | Number | |
Troubled Debt Restructuring, Debtor, Subsequent Periods [Line Items] | |||
Number of Loans | 1 | 2 | 4 |
Pre- Modification Principal Balance | $42 | $165 | $855 |
Post- Modification Principal Balance | 42 | 172 | 883 |
Residential real estate | |||
Troubled Debt Restructuring, Debtor, Subsequent Periods [Line Items] | |||
Number of Loans | 1 | 2 | 3 |
Pre- Modification Principal Balance | 42 | 165 | 139 |
Post- Modification Principal Balance | 42 | 172 | 159 |
Commercial real estate | |||
Troubled Debt Restructuring, Debtor, Subsequent Periods [Line Items] | |||
Number of Loans | 1 | ||
Pre- Modification Principal Balance | 716 | ||
Post- Modification Principal Balance | $724 |
Recovered_Sheet2
Loans and Allowance for Loan Losses (Additional Information) (Detail) (USD $) | 6 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Impaired Financing Receivable, Interest Income, Cash Basis Method, Total | $5,000 | $41,000 |
Two TDR [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Troubled debt restructuring modified within the previous twelve months | $489,000 |
Real_Estate_Development_and_Co1
Real Estate Development and Construction (Additional Information) (Detail) (USD $) | 3 Months Ended | 6 Months Ended | ||
Mar. 31, 2015 | Mar. 31, 2014 | Mar. 31, 2015 | Mar. 31, 2014 | |
Real Estate Properties [Line Items] | ||||
Development cost cash paid | $7,500,000 | |||
Expected total development costs | 7,700,000 | |||
Depreciation | $49,000 | $47,000 | $98,000 | $94,000 |
Investment_in_Historic_Tax_Cre1
Investment in Historic Tax Credit Entity (Additional Information) (Detail) (USD $) | 0 Months Ended | ||
Oct. 15, 2014 | Mar. 31, 2015 | Sep. 30, 2014 | |
Committed To Invest Into Limited Liability | $4,200,000 | ||
Percentage Of Received Equity Interest | 99.00% | ||
Percentage Of Receive Operating Profit And Losses | 99.00% | ||
Investment Credit Available To Be Estimated | 4,600,000 | ||
Other Assets | 6,044,000 | 2,567,000 | |
Description Of Investment In Credit | The Bank invested $417,000 on October 15, 2014 and has committed to invest an additional $417,000 when the project is 50% completed and the remaining $3.3 million when the project is fully completed and the certificate of occupancy is received. The project is expected to be completed in December 2015. | ||
Investment In Credit [Member] | |||
Other Assets | 4,200,000 | ||
Other Liabilities | $3,800,000 |
Supplemental_Disclosure_for_Ea2
Supplemental Disclosure for Earnings Per Share (Earnings Per Share Information) (Detail) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Mar. 31, 2015 | Mar. 31, 2014 |
Earnings: | ||||
Net income | $1,527 | $1,536 | $2,727 | $2,564 |
Less: Preferred stock dividends declared | -43 | -43 | -86 | -86 |
Net Income Available to Common Shareholders | 1,484 | 1,493 | 2,641 | 2,478 |
Shares: | ||||
Weighted average common shares outstanding | 2,138,931 | 2,140,414 | 2,125,369 | 2,149,426 |
Net income per common share, basic | $0.69 | $0.70 | $1.24 | $1.15 |
Earnings: | ||||
Net income | 1,527 | 1,536 | 2,727 | 2,564 |
Less: Preferred stock dividends declared | -43 | -43 | -86 | -86 |
Net income available to common shareholders | $1,484 | $1,493 | $2,641 | $2,478 |
Shares: | ||||
Weighted average common shares outstanding | 2,138,931 | 2,140,414 | 2,125,369 | 2,149,426 |
Add: Dilutive effect of outstanding options | 96,436 | 93,337 | 96,967 | 91,359 |
Add: Dilutive effect of nonvested restricted stock | 10,004 | 15,210 | 9,238 | 14,214 |
Weighted average common shares outstanding as adjusted | 2,245,371 | 2,248,961 | 2,231,574 | 2,254,999 |
Net income per common share, diluted | $0.66 | $0.66 | $1.18 | $1.10 |
Supplemental_Disclosures_of_Ca2
Supplemental Disclosures of Cash Flow Information (Cash Flow Information) (Detail) (USD $) | 6 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Cash payments for: | ||
Interest | $1,953 | $1,945 |
Taxes | 864 | 620 |
Transfers from loans to foreclosed real estate | 398 | 776 |
Proceeds from sales of foreclosed real estate financed through loans | $290 | $496 |
Fair_Value_Measurements_and_Di2
Fair Value Measurements and Disclosures about Fair Value of Financial Instruments (Balances Of Financial Assets Measured At Fair Value On Recurring And Nonrecurring) (Detail) (USD $) | Mar. 31, 2015 | Sep. 30, 2014 |
In Thousands, unless otherwise specified | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading account securities | $5,229 | $5,319 |
Interest rate cap contract | 1 | |
Loans held for sale | 320 | 281 |
Securities available for sale | 183,375 | 184,697 |
Fair Value, Measurements, Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading account securities | 5,229 | 5,319 |
Securities available for sale | 183,375 | 184,697 |
Fair Value, Measurements, Recurring | Agency bonds and notes | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale | 9,101 | 12,091 |
Fair Value, Measurements, Recurring | Agency mortgage-backed | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale | 49,496 | 52,255 |
Fair Value, Measurements, Recurring | Agency CMO | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale | 24,764 | 29,484 |
Fair Value, Measurements, Recurring | Privately-issued CMO | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale | 3,712 | 3,920 |
Fair Value, Measurements, Recurring | Privately-issued ABS | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale | 6,780 | 7,353 |
Fair Value, Measurements, Recurring | SBA Certificates | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale | 1,631 | 1,762 |
Fair Value, Measurements, Recurring | Municipal | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale | 87,891 | 77,832 |
Fair Value, Measurements, Nonrecurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total impaired loans | 11,089 | 11,320 |
Fair Value, Measurements, Nonrecurring | Residential Real Estate [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total impaired loans | 4,777 | 5,128 |
Fair Value, Measurements, Nonrecurring | Commercial Real Estate [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total impaired loans | 5,670 | 5,705 |
Fair Value, Measurements, Nonrecurring | Commercial Loan [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total impaired loans | 321 | 145 |
Fair Value, Measurements, Nonrecurring | Consumer Loan [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total impaired loans | 321 | 342 |
Other Real Estate Owned | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total foreclosed real estate | 552 | 953 |
Other Real Estate Owned | Residential Real Estate [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total foreclosed real estate | 394 | 518 |
Other Real Estate Owned | Commercial Real Estate [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total foreclosed real estate | 100 | 377 |
Other Real Estate Owned | Land and land development [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total foreclosed real estate | 58 | 58 |
Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading account securities | 0 | 0 |
Interest rate cap contract | 0 | |
Loans held for sale | 0 | 0 |
Securities available for sale | 0 | 0 |
Level 1 | Fair Value, Measurements, Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading account securities | 0 | 0 |
Securities available for sale | 0 | 0 |
Level 1 | Fair Value, Measurements, Recurring | Agency bonds and notes | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale | 0 | 0 |
Level 1 | Fair Value, Measurements, Recurring | Agency mortgage-backed | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale | 0 | 0 |
Level 1 | Fair Value, Measurements, Recurring | Agency CMO | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale | 0 | 0 |
Level 1 | Fair Value, Measurements, Recurring | Privately-issued CMO | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale | 0 | 0 |
Level 1 | Fair Value, Measurements, Recurring | Privately-issued ABS | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale | 0 | 0 |
Level 1 | Fair Value, Measurements, Recurring | SBA Certificates | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale | 0 | 0 |
Level 1 | Fair Value, Measurements, Recurring | Municipal | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale | 0 | 0 |
Level 1 | Fair Value, Measurements, Nonrecurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total impaired loans | 0 | 0 |
Level 1 | Fair Value, Measurements, Nonrecurring | Residential Real Estate [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total impaired loans | 0 | 0 |
Level 1 | Fair Value, Measurements, Nonrecurring | Commercial Real Estate [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total impaired loans | 0 | 0 |
Level 1 | Fair Value, Measurements, Nonrecurring | Commercial Loan [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total impaired loans | 0 | 0 |
Level 1 | Fair Value, Measurements, Nonrecurring | Consumer Loan [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total impaired loans | 0 | 0 |
Level 1 | Other Real Estate Owned | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total foreclosed real estate | 0 | 0 |
Level 1 | Other Real Estate Owned | Residential Real Estate [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total foreclosed real estate | 0 | 0 |
Level 1 | Other Real Estate Owned | Commercial Real Estate [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total foreclosed real estate | 0 | 0 |
Level 1 | Other Real Estate Owned | Land and land development [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total foreclosed real estate | 0 | 0 |
Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading account securities | 5,229 | 5,319 |
Interest rate cap contract | 1 | |
Loans held for sale | 320 | 281 |
Securities available for sale | 183,375 | 184,697 |
Level 2 | Fair Value, Measurements, Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading account securities | 5,229 | 5,319 |
Securities available for sale | 183,375 | 184,697 |
Level 2 | Fair Value, Measurements, Recurring | Agency bonds and notes | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale | 9,101 | 12,091 |
Level 2 | Fair Value, Measurements, Recurring | Agency mortgage-backed | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale | 49,496 | 52,255 |
Level 2 | Fair Value, Measurements, Recurring | Agency CMO | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale | 24,764 | 29,484 |
Level 2 | Fair Value, Measurements, Recurring | Privately-issued CMO | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale | 3,712 | 3,920 |
Level 2 | Fair Value, Measurements, Recurring | Privately-issued ABS | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale | 6,780 | 7,353 |
Level 2 | Fair Value, Measurements, Recurring | SBA Certificates | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale | 1,631 | 1,762 |
Level 2 | Fair Value, Measurements, Recurring | Municipal | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale | 87,891 | 77,832 |
Level 2 | Fair Value, Measurements, Nonrecurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total impaired loans | 0 | 0 |
Level 2 | Fair Value, Measurements, Nonrecurring | Residential Real Estate [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total impaired loans | 0 | 0 |
Level 2 | Fair Value, Measurements, Nonrecurring | Commercial Real Estate [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total impaired loans | 0 | 0 |
Level 2 | Fair Value, Measurements, Nonrecurring | Commercial Loan [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total impaired loans | 0 | 0 |
Level 2 | Fair Value, Measurements, Nonrecurring | Consumer Loan [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total impaired loans | 0 | 0 |
Level 2 | Other Real Estate Owned | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total foreclosed real estate | 0 | 0 |
Level 2 | Other Real Estate Owned | Residential Real Estate [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total foreclosed real estate | 0 | 0 |
Level 2 | Other Real Estate Owned | Commercial Real Estate [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total foreclosed real estate | 0 | 0 |
Level 2 | Other Real Estate Owned | Land and land development [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total foreclosed real estate | 0 | 0 |
Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading account securities | 0 | 0 |
Interest rate cap contract | 0 | |
Loans held for sale | 0 | 0 |
Securities available for sale | 0 | 0 |
Level 3 | Fair Value, Measurements, Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Trading account securities | 0 | 0 |
Securities available for sale | 0 | 0 |
Level 3 | Fair Value, Measurements, Recurring | Agency bonds and notes | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale | 0 | 0 |
Level 3 | Fair Value, Measurements, Recurring | Agency mortgage-backed | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale | 0 | 0 |
Level 3 | Fair Value, Measurements, Recurring | Agency CMO | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale | 0 | 0 |
Level 3 | Fair Value, Measurements, Recurring | Privately-issued CMO | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale | 0 | 0 |
Level 3 | Fair Value, Measurements, Recurring | Privately-issued ABS | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale | 0 | 0 |
Level 3 | Fair Value, Measurements, Recurring | SBA Certificates | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale | 0 | |
Level 3 | Fair Value, Measurements, Recurring | Municipal | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Securities available for sale | 0 | 0 |
Level 3 | Fair Value, Measurements, Nonrecurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total impaired loans | 11,089 | 11,320 |
Level 3 | Fair Value, Measurements, Nonrecurring | Residential Real Estate [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total impaired loans | 4,777 | 5,128 |
Level 3 | Fair Value, Measurements, Nonrecurring | Commercial Real Estate [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total impaired loans | 5,670 | 5,705 |
Level 3 | Fair Value, Measurements, Nonrecurring | Commercial Loan [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total impaired loans | 321 | 145 |
Level 3 | Fair Value, Measurements, Nonrecurring | Consumer Loan [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total impaired loans | 321 | 342 |
Level 3 | Other Real Estate Owned | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total foreclosed real estate | 552 | 953 |
Level 3 | Other Real Estate Owned | Residential Real Estate [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total foreclosed real estate | 394 | 518 |
Level 3 | Other Real Estate Owned | Commercial Real Estate [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total foreclosed real estate | 100 | 377 |
Level 3 | Other Real Estate Owned | Land and land development [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total foreclosed real estate | $58 | $58 |
Fair_Value_Measurements_and_Di3
Fair Value Measurements and Disclosures about Fair Value of Financial Instruments (Carrying Value And Estimated Fair Value Of Financial Instruments) (Detail) (USD $) | Mar. 31, 2015 | Sep. 30, 2014 |
In Thousands, unless otherwise specified | ||
Financial assets: | ||
Cash and due from banks | $9,875 | $8,853 |
Interest-bearing deposits with banks | 10,322 | 11,477 |
Interest-bearing time deposits | 2,235 | 1,500 |
Trading account securities | 5,229 | 5,319 |
Securities available for sale | 183,375 | 184,697 |
Securities held to maturity | 5,012 | 5,419 |
Loans, net | 445,024 | 433,876 |
Loans held for sale | 320 | 281 |
FRB and FHLB stock | 7,462 | 6,517 |
Accrued interest receivable | 2,510 | 2,511 |
Interest rate cap (included in other assets) | 1 | |
Investment in historic tax credit entity (included in other assets) | 4,169 | |
Financial liabilities: | ||
Deposits | 536,937 | 533,194 |
Short-term repurchase agreements | 1,340 | 1,338 |
Borrowings from FHLB | 81,554 | 79,548 |
Other long-term debt | 4,724 | 4,812 |
Accrued interest payable | 179 | 175 |
Advance payments by borrowers for taxes and insurance | 747 | 748 |
Level 1 | ||
Financial assets: | ||
Cash and due from banks | 9,875 | 8,853 |
Interest-bearing deposits with banks | 10,322 | 11,477 |
Interest-bearing time deposits | 0 | 0 |
Trading account securities | 0 | 0 |
Securities available for sale | 0 | 0 |
Securities held to maturity | 0 | 0 |
Loans, net | 0 | 0 |
Loans held for sale | 0 | 0 |
FRB and FHLB stock | 0 | 0 |
Accrued interest receivable | 0 | 0 |
Interest rate cap (included in other assets) | 0 | |
Investment in historic tax credit entity (included in other assets) | 0 | |
Financial liabilities: | ||
Deposits | 0 | 0 |
Short-term repurchase agreements | 0 | 0 |
Borrowings from FHLB | 0 | 0 |
Other long-term debt | 0 | 0 |
Accrued interest payable | 0 | 0 |
Advance payments by borrowers for taxes and insurance | 0 | 0 |
Level 2 | ||
Financial assets: | ||
Cash and due from banks | 0 | 0 |
Interest-bearing deposits with banks | 0 | 0 |
Interest-bearing time deposits | 2,239 | 1,496 |
Trading account securities | 5,229 | 5,319 |
Securities available for sale | 183,375 | 184,697 |
Securities held to maturity | 5,693 | 5,849 |
Loans, net | 0 | 0 |
Loans held for sale | 320 | 281 |
FRB and FHLB stock | 7,462 | 6,517 |
Accrued interest receivable | 2,510 | 2,511 |
Interest rate cap (included in other assets) | 1 | |
Investment in historic tax credit entity (included in other assets) | 4,169 | |
Financial liabilities: | ||
Deposits | 0 | 0 |
Short-term repurchase agreements | 1,340 | 1,338 |
Borrowings from FHLB | 83,260 | 79,455 |
Other long-term debt | 4,724 | 4,812 |
Accrued interest payable | 179 | 175 |
Advance payments by borrowers for taxes and insurance | 747 | 748 |
Level 3 | ||
Financial assets: | ||
Cash and due from banks | 0 | 0 |
Interest-bearing deposits with banks | 0 | 0 |
Interest-bearing time deposits | 0 | 0 |
Trading account securities | 0 | 0 |
Securities available for sale | 0 | 0 |
Securities held to maturity | 0 | 0 |
Loans, net | 444,998 | 434,023 |
Loans held for sale | 0 | 0 |
FRB and FHLB stock | 0 | 0 |
Accrued interest receivable | 0 | 0 |
Interest rate cap (included in other assets) | 0 | |
Investment in historic tax credit entity (included in other assets) | 0 | |
Financial liabilities: | ||
Deposits | 540,128 | 535,364 |
Short-term repurchase agreements | 0 | 0 |
Borrowings from FHLB | 0 | 0 |
Other long-term debt | 0 | 0 |
Accrued interest payable | 0 | 0 |
Advance payments by borrowers for taxes and insurance | $0 | $0 |
Fair_Value_Measurements_and_Di4
Fair Value Measurements and Disclosures about Fair Value of Financial Instruments (Additional Information) (Detail) (USD $) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Mar. 31, 2015 | Mar. 31, 2014 | Mar. 31, 2015 | Mar. 31, 2014 | Sep. 30, 2014 | |
Foreclosed Real Estate Expense | $3,000 | $65,000 | $33,000 | $102,000 | |
Impaired Loans [Member] | |||||
Provision for Loan Losses Expensed | $49,000 | $49,000 | $2,000 | ||
Impaired Loans [Member] | Maximum [Member] | |||||
Fair Value Inputs, Discount Rate | 15.00% | 15.00% | |||
Impaired Loans [Member] | Minimum [Member] | |||||
Fair Value Inputs, Discount Rate | 0.00% | 0.00% | |||
Collateral [Member] | Maximum [Member] | |||||
Fair Value Inputs, Discount Rate | 6.00% | 6.00% | |||
Collateral [Member] | Minimum [Member] | |||||
Fair Value Inputs, Discount Rate | 0.00% | 0.00% | |||
Foreclosed Real Estate Held [Member] | Maximum [Member] | |||||
Fair Value Inputs, Discount Rate | 56.50% | 50.00% | |||
Foreclosed Real Estate Held [Member] | Minimum [Member] | |||||
Fair Value Inputs, Discount Rate | 15.00% | 13.30% | |||
Foreclosed Real Estate Held [Member] | Weighted Average [Member] | |||||
Fair Value Inputs, Discount Rate | 23.20% | 18.70% |
Employee_Stock_Ownership_Plan_1
Employee Stock Ownership Plan (Common Stock Held By The ESOP) (Detail) (USD $) | Mar. 31, 2015 | Sep. 30, 2014 | Oct. 06, 2008 |
Allocated shares | 157,972 | 132,339 | |
Unearned shares | 28,073 | 53,706 | |
Total ESOP shares | 186,045 | 186,045 | 203,363 |
Fair value of unearned shares | $813,000 | $1,341,000 |
Employee_Stock_Ownership_Plan_2
Employee Stock Ownership Plan (Additional Information) (Detail) (USD $) | 0 Months Ended | 3 Months Ended | 6 Months Ended | |||
Oct. 06, 2008 | Mar. 31, 2015 | Mar. 31, 2014 | Mar. 31, 2015 | Mar. 31, 2014 | Sep. 30, 2014 | |
Employee Stock Ownership Plan (ESOP), Weighted Average Purchase Price of Shares Purchased | $10 | |||||
Employee Stock Ownership Plan (ESOP), Compensation Expense | $113,000 | $93,000 | $600,000 | $521,000 | ||
Total ESOP shares | 203,363 | 186,045 | 186,045 | 186,045 |
Stock_Based_Compensation_Plans2
Stock Based Compensation Plans (Nonvested Restricted Shares) (Detail) (USD $) | 6 Months Ended | |
Mar. 31, 2015 | Apr. 30, 2010 | |
Number of Share | ||
Nonvested, Beginning Balance | 19,610 | |
Granted | 0 | |
Vested | -717 | |
Forfeited | 0 | |
Nonvested, Ending Balance | 18,893 | |
Weighted Average Grant Date Fair Value | ||
Nonvested, Beginning Balance | $13.25 | $13.25 |
Granted | $0 | |
Vested | $13.25 | |
Forfeited | $0 | |
Nonvested, Ending Balance | $13.25 | $13.25 |
Stock_Based_Compensation_Plans3
Stock Based Compensation Plans (Stock Option Activity Under The Plan) (Detail) (USD $) | 6 Months Ended | 12 Months Ended |
In Thousands, except Share data, unless otherwise specified | Mar. 31, 2015 | Sep. 30, 2014 |
Number of Shares | ||
Outstanding at beginning balance | 234,232 | |
Granted | 0 | |
Stock option exercise, shares | 20,972 | |
Forfeited or expired | 0 | |
Outstanding at ending balance | 213,260 | 234,232 |
Exercisable at end of year | 166,009 | |
Weighted Average Exercise Price Per Share | ||
Beginning Balance | $13.25 | |
Granted | $0 | |
Exercise | $13.25 | |
Forfeited or expired | $0 | |
Ending Balance | $13.25 | $13.25 |
Exercisable at end of year | $13.25 | |
Weighted Average Remaining Contractual Term (years) | ||
Outstanding | 5 years 1 month 6 days | 5 years 7 months 6 days |
Exercisable at end of year | 5 years 1 month 6 days | |
Aggregate Intrinsic Value | ||
Outstanding at beginning of year | $2,743 | |
Exercised | 250 | |
Outstanding at end of year | 3,348 | 2,743 |
Exercisable at end of year | $2,606 |
Stock_Based_Compensation_Plans4
Stock Based Compensation Plans (Additional Information) (Detail) (USD $) | 1 Months Ended | 3 Months Ended | 6 Months Ended | ||||
31-May-10 | Apr. 30, 2010 | Mar. 31, 2015 | Mar. 31, 2014 | Mar. 31, 2015 | Mar. 31, 2014 | Mar. 31, 2015 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 177,549 | 355,885 | 355,885 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Shares Purchased for Award | 101,681 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Per Share Weighted Average Price of Shares Purchased | $13.60 | ||||||
Nonvested, Beginning Balance | $13.25 | $13.25 | $13.25 | ||||
Restricted Stock or Unit Expense | $63,000 | $65,000 | $131,000 | $130,000 | |||
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Period for Recognition | 1 month 17 days | ||||||
Stock or Unit Option Plan Expense | 37,000 | 38,000 | 76,000 | 76,000 | |||
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Stock Options | 18,000 | 18,000 | |||||
Share Based Compensation Arrangement By Share Based Payment Award Value Of Shares Purchased For Award | 1,400,000 | ||||||
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other than Options Grants In Period Aggregate Fair Value | 1,300,000 | ||||||
Decrease In Additional Paid In Capital | 41,000 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $3.09 | ||||||
Vested | 717 | ||||||
Restricted Stock [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Period for Recognition | 1 month 17 days | ||||||
Vested | 717 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value | 18,000 | ||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Share-based Awards Other than Options | $31,000 | $31,000 | |||||
Stock Option [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 76,655 |
Preferred_Stock_Additional_Inf
Preferred Stock (Additional Information) (Detail) (USD $) | 1 Months Ended | 6 Months Ended | ||
Sep. 30, 2011 | Mar. 31, 2015 | Sep. 30, 2014 | Aug. 11, 2011 | |
Auction Market Preferred Securities, Stock Series [Line Items] | ||||
Weighted Average Dividend Rate | 1.00% | |||
Preferred Stock, issued | 0 | 0 | ||
Series A Preferred Stock, dividend rate under Purchase Agreement | 4.84% | |||
Series A Preferred Stock redemption price, under Purchase Agreement | 100.00% | |||
Tier One Risk Based Capital | $10,000,000,000 | |||
First ten quarters | ||||
Auction Market Preferred Securities, Stock Series [Line Items] | ||||
Annual lending incentive fee, percentage under Purchase Agreement | 2.00% | |||
First ten quarters | Minimum | ||||
Auction Market Preferred Securities, Stock Series [Line Items] | ||||
Weighted Average Dividend Rate | 1.00% | |||
Series A Preferred Stock, dividend rate under Purchase Agreement | 1.00% | |||
First ten quarters | Maximum | ||||
Auction Market Preferred Securities, Stock Series [Line Items] | ||||
Weighted Average Dividend Rate | 7.00% | |||
Series A Preferred Stock, dividend rate under Purchase Agreement | 5.00% | |||
Fifteenth dividend period through the eighteenth dividend period | ||||
Auction Market Preferred Securities, Stock Series [Line Items] | ||||
Series A Preferred Stock redemption price, under Purchase Agreement | 1.00% | |||
After four and one half years from issuance | ||||
Auction Market Preferred Securities, Stock Series [Line Items] | ||||
Series A Preferred Stock redemption price, under Purchase Agreement | 9.00% | |||
Small Business Jobs Act of 2010 | ||||
Auction Market Preferred Securities, Stock Series [Line Items] | ||||
Preferred Stock Value | 30,000,000,000 | |||
sixteenth dividend period through the eighteenth dividend period | ||||
Auction Market Preferred Securities, Stock Series [Line Items] | ||||
Series A Preferred Stock redemption price, under Purchase Agreement | 1.00% | |||
Senior Non-Cumulative Perpetual Preferred Stock, Series A | ||||
Auction Market Preferred Securities, Stock Series [Line Items] | ||||
Preferred Stock, issued | 17,120 | 17,120 | 17,120 | |
Series A Preferred Stock, total purchase price under Purchase Agreement | 17,120,000 | 17,120,000 | 17,120,000 | |
Preferred Stock, aggregate liquidation preference | $1,000 | |||
Preferred Stock Value | 0 | 0 |