Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Mar. 31, 2019 | Apr. 30, 2019 | |
Document and Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Mar. 31, 2019 | |
Document Fiscal Year Focus | 2019 | |
Document Fiscal Period Focus | Q2 | |
Entity Registrant Name | First Savings Financial Group Inc | |
Entity Central Index Key | 0001435508 | |
Current Fiscal Year End Date | --09-30 | |
Entity Filer Category | Accelerated Filer | |
Trading Symbol | FSFG | |
Entity Common Stock, Shares Outstanding | 2,344,836 | |
Entity Emerging Growth Company | false | |
Entity Small Business | true |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Mar. 31, 2019 | Sep. 30, 2018 |
ASSETS | ||
Cash and due from banks | $ 11,617 | $ 14,191 |
Interest-bearing deposits with banks | 28,825 | 28,083 |
Total cash and cash equivalents | 40,442 | 42,274 |
Interest-bearing time deposits | 2,963 | 2,501 |
Securities available for sale, at fair value | 191,082 | 184,373 |
Securities held to maturity | 2,465 | 2,607 |
Loans held for sale, residential mortgage ($25,017 at fair value in 2019; $9,952 at fair value in 2018) | 25,017 | 10,466 |
Loans held for sale, Small Business Administration | 23,786 | 21,659 |
Loans, net of allowance for loan losses of $9,934 and $9,323 | 762,661 | 704,271 |
Federal Reserve Bank and Federal Home Loan Bank stock, at cost | 10,196 | 9,621 |
Premises and equipment | 18,488 | 13,013 |
Other real estate owned, held for sale | 1,917 | 103 |
Accrued interest receivable: | ||
Loans | 2,882 | 2,687 |
Securities | 1,720 | 1,600 |
Cash surrender value of life insurance | 26,224 | 19,966 |
Goodwill | 9,848 | 9,848 |
Core deposit intangibles | 1,523 | 1,727 |
Other assets | 8,508 | 7,690 |
Total Assets | 1,129,722 | 1,034,406 |
Deposits: | ||
Noninterest-bearing | 162,901 | 167,705 |
Interest-bearing | 661,869 | 643,407 |
Total deposits | 824,770 | 811,112 |
Repurchase agreements | 1,353 | 1,352 |
Borrowings from Federal Home Loan Bank | 160,938 | 90,000 |
Other borrowings | 19,695 | 19,661 |
Accrued interest payable | 1,325 | 743 |
Advance payments by borrowers for taxes and insurance | 1,274 | 1,218 |
Accrued expenses and other liabilities | 10,438 | 10,075 |
Total Liabilities | 1,019,793 | 934,161 |
STOCKHOLDERS' EQUITY | ||
Preferred stock of $.01 par value per share; authorized 1,000,000 shares; none issued | 0 | 0 |
Common stock of $.01 par value per share; authorized 20,000,000 shares; issued 2,565,606 shares (2,560,907 at September 30, 2018); outstanding 2,344,836 shares (2,292,021 shares at September 30, 2018) | 26 | 26 |
Additional paid-in capital | 27,500 | 27,630 |
Retained earnings - substantially restricted | 82,266 | 76,523 |
Accumulated other comprehensive income | 4,089 | 382 |
Unearned stock compensation | (534) | (479) |
Less treasury stock, at cost - 220,770 shares (268,886 shares at September 30, 2018) | (4,659) | (5,269) |
Total First Savings Financial Group, Inc. Stockholders' Equity | 108,688 | 98,813 |
Noncontrolling interests in subsidiary | 1,241 | 1,432 |
Total Equity | 109,929 | 100,245 |
Total Liabilities and Equity | $ 1,129,722 | $ 1,034,406 |
CONSOLIDATED BALANCE SHEETS (Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands | Mar. 31, 2019 | Sep. 30, 2018 |
Loans Held-for-sale, Fair Value Disclosure | $ 25,017 | $ 9,952 |
Loans, net of allowance for loan losses | $ 9,934 | $ 9,323 |
Preferred stock, par value | $ 0.01 | $ 0.01 |
Preferred Stock, Authorized | 1,000,000 | 1,000,000 |
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 | 2,565,606 | 2,560,907 |
Common Stock, Outstanding | 2,344,836 | 2,292,021 |
Treasury stock, shares | 220,770 | 268,886 |
CONSOLIDATED STATEMENTS OF INCO
CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2019 | Mar. 31, 2018 | |
INTEREST INCOME | ||||
Loans, including fees | $ 10,211 | $ 8,173 | $ 20,021 | $ 15,860 |
Securities: | ||||
Taxable | 727 | 809 | 1,474 | 1,586 |
Tax-exempt | 1,006 | 899 | 1,976 | 1,700 |
Dividend income | 142 | 149 | 263 | 239 |
Interest-bearing deposits with banks | 221 | 116 | 374 | 187 |
Total interest income | 12,307 | 10,146 | 24,108 | 19,572 |
INTEREST EXPENSE | ||||
Deposits | 1,607 | 807 | 3,031 | 1,669 |
Repurchase agreements | 1 | 1 | 2 | 2 |
Borrowings from Federal Home Loan Bank | 520 | 615 | 998 | 1,125 |
Other borrowings | 318 | 0 | 640 | 0 |
Total interest expense | 2,446 | 1,423 | 4,671 | 2,796 |
Net interest income | 9,861 | 8,723 | 19,437 | 16,776 |
Provision for loan losses | 340 | 371 | 655 | 833 |
Net interest income after provision for loan losses | 9,521 | 8,352 | 18,782 | 15,943 |
NONINTEREST INCOME | ||||
Service charges on deposit accounts | 449 | 399 | 960 | 776 |
ATM and interchange fees | 446 | 299 | 899 | 662 |
Net gain on sales of available for sale securities | 1 | 0 | 1 | 0 |
Net gain (loss) on trading account securities | 0 | (59) | 0 | 91 |
Net gain on sales of loans, Small Business Administration | 521 | 1,488 | 1,485 | 3,027 |
Mortgage banking income | 5,074 | 53 | 8,363 | 168 |
Increase in cash surrender value of life insurance | 147 | 106 | 258 | 213 |
Commission income | 77 | 98 | 134 | 226 |
Real estate lease income | 157 | 1 | 315 | 1 |
Net gain on sale of premises and equipment | 8 | 8 | 9 | 15 |
Other income | 209 | 174 | 446 | 294 |
Total noninterest income | 7,089 | 2,567 | 12,870 | 5,473 |
NONINTEREST EXPENSE | ||||
Compensation and benefits | 8,240 | 4,408 | 15,497 | 8,419 |
Occupancy and equipment | 1,420 | 923 | 2,745 | 1,665 |
Data processing | 479 | 1,224 | 906 | 1,571 |
Advertising | 567 | 178 | 963 | 295 |
Professional fees | 504 | 493 | 964 | 866 |
FDIC insurance premiums | 112 | 128 | 178 | 247 |
Net (gain) loss on other real estate owned | 7 | (22) | (14) | (178) |
Other operating expenses | 1,551 | 1,027 | 3,057 | 1,856 |
Total noninterest expense | 12,880 | 8,359 | 24,296 | 14,741 |
Income before income taxes | 3,730 | 2,560 | 7,356 | 6,675 |
Income tax expense | 466 | 338 | 988 | 960 |
Net Income | 3,264 | 2,222 | 6,368 | 5,715 |
Less: net income (loss) attributable to noncontrolling interests | (269) | 576 | (96) | 663 |
Net Income Attributable to First Savings Financial Group, Inc. | $ 3,533 | $ 1,646 | $ 6,464 | $ 5,052 |
Net income per share: | ||||
Basic | $ 1.53 | $ 0.73 | $ 2.82 | $ 2.26 |
Diluted | $ 1.50 | $ 0.69 | $ 2.73 | $ 2.14 |
Weighted average shares outstanding: | ||||
Basic | 2,307,155 | 2,251,425 | 2,295,788 | 2,239,823 |
Diluted | 2,360,004 | 2,370,260 | 2,366,524 | 2,363,606 |
Dividends per share | $ 0.16 | $ 0.15 | $ 0.31 | $ 0.29 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2019 | Mar. 31, 2018 | |
Net Income | $ 3,264 | $ 2,222 | $ 6,368 | $ 5,715 |
Unrealized gains (losses) on securities available for sale: | ||||
Unrealized holding gains (losses) arising during the period | 2,964 | (2,023) | 4,744 | (3,332) |
Income tax benefit (expense) | (646) | 441 | (1,036) | 733 |
Net of tax amount | 2,318 | (1,582) | 3,708 | (2,599) |
Less: reclassification adjustment for realized gains included in net income | (1) | 0 | (1) | 0 |
Income tax expense | 0 | 0 | 0 | 0 |
Net of tax amount | (1) | 0 | (1) | 0 |
Other Comprehensive Income (Loss) | 2,317 | (1,582) | 3,707 | (2,599) |
Comprehensive Income | 5,581 | 640 | 10,075 | 3,116 |
Less: comprehensive income (loss) attributable to noncontrolling interests | (269) | 576 | (96) | 663 |
Comprehensive Income Attributable to First Savings Financial Group, Inc. | $ 5,850 | $ 64 | $ 10,171 | $ 2,453 |
CONSOLIDATED STATEMENTS OF CHAN
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) $ in Thousands | Total | Common Stock | Additional Paid-in Capital | Retained Earnings | Accumulated Other Comprehensive Income | Unearned Stock Compensation | Treasury Stock | Noncontrolling Interests in Subsidiary |
Balances at Sep. 30, 2017 | $ 93,115 | $ 25 | $ 27,798 | $ 67,583 | $ 4,158 | $ (571) | $ (5,878) | $ 0 |
Net income | 5,715 | 0 | 0 | 5,052 | 0 | 0 | 0 | 663 |
Other comprehensive loss | (2,599) | 0 | 0 | 0 | (2,599) | 0 | 0 | 0 |
Reclassification from AOCI to retained earnings for change in federal tax rate | 0 | 0 | 0 | (619) | 619 | 0 | 0 | 0 |
Common stock dividends | (655) | 0 | 0 | (655) | 0 | 0 | 0 | 0 |
Restricted stock grants | 0 | 1 | 56 | 0 | 0 | (57) | 0 | 0 |
Stock compensation expense | 106 | 0 | 32 | 0 | 0 | 74 | 0 | 0 |
Stock option exercises | 578 | 0 | (209) | 0 | 0 | 0 | 787 | 0 |
Purchase of treasury shares | (433) | 0 | 0 | 0 | 0 | 0 | (433) | 0 |
Balances at Mar. 31, 2018 | 95,827 | 26 | 27,677 | 71,361 | 2,178 | (554) | (5,524) | 663 |
Balances at Sep. 30, 2018 | 100,245 | 26 | 27,630 | 76,523 | 382 | (479) | (5,269) | 1,432 |
Net income | 6,368 | 0 | 0 | 6,464 | 0 | 0 | 0 | (96) |
Other comprehensive loss | 3,707 | 0 | 0 | 0 | 3,707 | 0 | 0 | 0 |
Common stock dividends | (721) | 0 | 0 | (721) | 0 | 0 | 0 | 0 |
Distributions to noncontrolling interests | (95) | 0 | 0 | 0 | 0 | 0 | 0 | (95) |
Restricted stock grants | 0 | 0 | 141 | 0 | 0 | (141) | 0 | 0 |
Stock compensation expense | 120 | 0 | 35 | 0 | 0 | 86 | 0 | 0 |
Stock option exercises | 877 | 0 | (306) | 0 | 0 | 0 | 1,183 | 0 |
Purchase of treasury shares | (573) | 0 | 0 | 0 | 0 | 0 | (573) | 0 |
Balances at Mar. 31, 2019 | $ 109,929 | $ 26 | $ 27,500 | $ 82,266 | $ 4,089 | $ (534) | $ (4,659) | $ 1,241 |
CONSOLIDATED STATEMENTS OF CH_2
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares | 6 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Dividends per common share | $ 0.31 | $ 0.29 |
Restricted stock grants - shares | 2,329 | 1,000 |
Stock option exercise, shares | 61,484 | 42,296 |
Purchase of treasury shares, shares | 10,968 | 6,729 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 6 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net income | $ 6,368 | $ 5,715 |
Adjustments to reconcile net income to net cash provided by (used in) operating activities: | ||
Provision for loan losses | 655 | 833 |
Depreciation and amortization | 860 | 634 |
Amortization of premiums and accretion of discounts on securities, net | 240 | 274 |
Decrease in trading account securities | 0 | 1,426 |
Amortization and accretion of fair value adjustments on loans, net | (318) | (186) |
Loans originated for sale | (200,737) | (63,144) |
Proceeds on sales of loans | 191,800 | 71,516 |
Net realized and unrealized gain on loans held for sale | (7,762) | (3,195) |
Net realized and unrealized gain on other real estate owned | (25) | (216) |
Net gain on sales of available for sale securities | (1) | 0 |
Increase in cash surrender value of life insurance | (258) | (213) |
Net gain on sale of premises and equipment | (9) | (15) |
Deferred income taxes | 279 | 874 |
Stock compensation expense | 120 | 106 |
Increase in accrued interest receivable | (315) | (149) |
Increase in accrued interest payable | 582 | 32 |
Change in other assets and liabilities, net | (1,178) | (3,691) |
Net Cash Provided By (Used In) Operating Activities | (9,699) | 10,601 |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Investment in interest-bearing time deposits | (690) | (490) |
Proceeds from sales and maturities of interest-bearing time deposits | 245 | 3,986 |
Purchase of securities available for sale | (18,296) | (16,161) |
Proceeds from sales of securities available for sale | 226 | 32,262 |
Proceeds from maturities of securities available for sale | 3,505 | 1,280 |
Proceeds from maturities of securities held to maturity | 132 | 120 |
Principal collected on securities | 12,354 | 7,127 |
Net increase in loans | (59,358) | (61,980) |
Proceeds from redemption of Federal Reserve Bank stock | 0 | 21 |
Purchase of Federal Home Loan Bank stock | (575) | (2,562) |
Investment in cash surrender value of life insurance | (6,000) | 0 |
Proceeds from life insurance | 0 | 540 |
Proceeds from sale of other real estate owned | 123 | 606 |
Purchase of premises and equipment | (7,992) | (643) |
Proceeds from sales of premises and equipment | 51 | 0 |
Net cash received in the acquisition of Dearmin Bancorp and FNBO | 0 | 6,667 |
Net Cash Used In Investing Activities | (76,275) | (29,227) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Net increase in deposits | 13,658 | (2,360) |
Net increase in repurchase agreements | 1 | 2 |
Increase (decrease) in Federal Home Loan Bank line of credit | 5,938 | (3,842) |
Proceeds from Federal Home Loan Bank advances | 95,000 | 179,500 |
Repayment of Federal Home Loan Bank advances | (30,000) | (149,500) |
Repayment of other long-term debt | 0 | |
Net increase (decrease) in advance payments by borrowers for taxes and insurance | 56 | (232) |
Proceeds from exercise of stock options | 337 | 189 |
Taxes paid on stock award shares for employees | (32) | (46) |
Dividends paid on common stock | (721) | (314) |
Distributions to noncontrolling interests | (95) | 0 |
Net Cash Provided By Financing Activities | 84,142 | 23,397 |
Net Increase (Decrease) in Cash and Cash Equivalents | (1,832) | 4,771 |
Cash and cash equivalents at beginning of period | 42,274 | 34,259 |
Cash and Cash Equivalents at End of Period | $ 40,442 | $ 39,030 |
Presentation of Interim Informa
Presentation of Interim Information | 6 Months Ended |
Mar. 31, 2019 | |
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 16 locations in southern Indiana. The Bank attracts deposits primarily from the general public and uses those funds, along with other borrowings, primarily to originate commercial mortgage, residential mortgage, construction, commercial business and consumer loans, and to a lesser extent, to invest in mortgage-backed securities, municipal bonds and other investment securities. The Bank has two wholly-owned subsidiaries: First Savings Investments, Inc., a Nevada corporation that manages a securities portfolio, and Southern Indiana Financial Corporation, which is currently inactive. The Captive, which is a wholly-owned insurance subsidiary of the Company, 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 11 other third-party insurance captives for which insurance may not be currently available or economically feasible in the insurance marketplace. On April 25, 2017, the Bank formed Q2 Business Capital, LLC (“Q2”), which is an Indiana limited liability company that specializes in the origination and servicing of U.S. Small Business Administration (“SBA”) loans. The Bank owns 51% of Q2 with the option to purchase the minority interest between July 1, 2020 and September 30, 2020. In accordance with Q2’s operating agreement, the Bank was allocated the first $1.7 million of Q2’s cumulative net income with any additional profits and losses allocated 51% to the Bank and 49% to Q2’s minority members. In the opinion of management, the accompanying unaudited consolidated financial statements include all adjustments considered necessary to present fairly the financial position as of March 31, 2019, the results of operations for the three- and six-month periods ended March 31, 2019 and 2018, and the cash flows for the six-month periods ended March 31, 2019 and 2018. 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 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, 2018 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. The reclassifications had no effect on net income or stockholders’ equity. |
Acquisition of Dearmin Bancorp
Acquisition of Dearmin Bancorp and The First National Bank of Odon | 6 Months Ended |
Mar. 31, 2019 | |
Business Combinations [Abstract] | |
Acquisition of Dearmin Bancorp and The First National Bank of Odon | 2. Acquisition of Dearmin Bancorp and The First National Bank of Odon On February 9, 2018, the Company acquired Dearmin Bancorp, Inc. (“Dearmin”) and its majority owned subsidiary, The First National Bank of Odon (“FNBO”), a full service community bank located in Odon, Indiana. The acquisition expanded the Company’s presence into Daviess County, Indiana. The Company expects to benefit from growth in this market area as well as from expansion of the banking services provided to the existing customers of FNBO. Cost savings are also expected for the combined bank through economies of scale, efficiencies and the consolidation of business operations. Pursuant to the terms of the merger agreement, FNBO stockholders received $265.00 in cash for each share of FNBO common stock for total cash consideration of $10.6 million. Under the acquisition method of accounting, the purchase price is assigned to the identifiable assets acquired and liabilities assumed based on their fair values, net of applicable income tax effects. In accounting for the acquisition, the excess of cost over the fair value of the acquired net assets of $1.9 million was recorded as goodwill. Transaction and integration costs related to the acquisition totaling $1.3 million were expensed as incurred for the three-month and six-month periods ended March 31, 2018. No transaction and integration costs were recognized for the three- and six-month periods ended March 31, 2019. Following is a condensed balance sheet providing the estimated fair values of the assets acquired and the liabilities assumed as of the date of acquisition: (In thousands) Cash and due from banks $ 1,310 Interest-bearing deposits with banks 15,957 Interest-bearing time deposits with banks 3,817 Investment securities 39,978 Loans, net 34,467 Premises and equipment 1,125 Goodwill arising in the acquisition 1,912 Core deposit intangible 1,487 Other assets 2,890 Total assets acquired 102,943 Deposit accounts 91,765 Net deferred tax liabilities 205 Other liabilities 373 Total liabilities assumed 92,343 Total consideration $ 10,600 In accounting for the acquisition, $1.5 million was assigned to a core deposit intangible which is amortized over a weighted-average estimated economic life of 9.1 years. It is not anticipated that the core deposit intangible will have a significant residual value. No amount of the goodwill or core deposit intangible arising in the acquisition is deductible for income tax purposes. Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 310-30, Loans and Debt Securities Acquired with Deteriorated Credit Quality , applies to a loan with evidence of deterioration of credit quality since origination, acquired by completion of a transfer for which it is probable, at acquisition, that the investor will be unable to collect all contractually required payments receivable. On the acquisition date, no loans were identified with evidence of deterioration of credit quality since origination. Loans acquired not subject to ASC 310-30 included non-impaired loans with a fair value of $34.5 million and gross contractual amounts receivable of $41.5 million at the date of acquisition. |
Investment Securities
Investment Securities | 6 Months Ended |
Mar. 31, 2019 | |
Investments, Debt and Equity Securities [Abstract] | |
Investment Securities | 3. Investment Securities U.S. agency bonds and notes, agency mortgage-backed securities and agency collateralized mortgage obligations (“CMO”) include treasury notes issued by the U.S. government; securities issued by the Government National Mortgage Association (“GNMA”), a U.S. government agency; and securities issued by 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 holds municipal bonds issued by municipal governments within the U.S. The Company also holds pass-through asset-backed securities guaranteed by the 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 Prior to June 30, 2018, the Company invested in small and medium lot, investment grade municipal bonds through a managed brokerage account. The brokerage account was managed by an investment advisory firm registered with the U.S. Securities and Exchange Commission. During May 2018, the Company ceased its trading activity and had no trading account securities at September 30, 2018 or March 31, 2019. As such, there were no gains or losses on trading account securities during the three and six-month periods ended March 31, 2019. During the three-month period ended March 31, 2018, the Company reported a net loss on trading account securities of $59,000. During the six-month period ended March 31, 2018, the Company reported a net gain on trading account securities of $91,000. 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: Amortized Cost Gross Unrealized Gain Gross Unrealized Losses Fair Value (In thousands) March 31, 2019: Securities available for sale: Agency mortgage-backed $ 23,529 $ 179 $ 215 $ 23,493 Agency CMO 11,709 42 121 11,630 Privately-issued CMO 1,314 122 3 1,433 Privately-issued ABS 1,128 255 - 1,383 SBA certificates 1,196 42 5 1,233 Municipal bonds 146,951 5,157 198 151,910 Total securities available for sale $ 185,827 $ 5,797 $ 542 $ 191,082 Securities held to maturity: Agency mortgage-backed $ 125 $ 7 $ - $ 132 Municipal bonds 2,340 389 - 2,729 Total securities held to maturity $ 2,465 $ 396 $ - $ 2,861 Amortized Cost Gross Unrealized Gain Gross Unrealized Losses Fair Value (In thousands) September 30, 2018: Securities available for sale: Agency mortgage-backed $ 31,686 $ 90 $ 646 $ 31,130 Agency CMO 10,754 - 313 10,441 Privately-issued CMO 1,434 148 3 1,579 Privately-issued ABS 1,538 346 - 1,884 SBA certificates 1,305 53 7 1,351 Municipal bonds 137,144 2,189 1,345 137,988 Total securities available for sale $ 183,861 $ 2,826 $ 2,314 $ 184,373 Securities held to maturity: Agency mortgage-backed $ 134 $ 8 $ - $ 142 Municipal bonds 2,473 281 - 2,754 Total securities held to maturity $ 2,607 $ 289 $ - $ 2,896 The amortized cost and fair value of investment securities as of March 31, 2019 by contractual maturity are shown below. CMO, ABS, SBA certificates, and mortgage-backed securities which do not have a single maturity date are shown separately. Available for Sale Held to Maturity Amortized Cost Fair Value Amortized Cost Fair Value (In thousands) Due within one year $ 2,957 $ 2,975 $ 245 $ 284 Due after one year through five years 20,501 21,072 990 1,152 Due after five years through ten years 30,716 31,876 840 984 Due after ten years 92,777 95,987 265 309 CMO 13,023 13,063 - - ABS 1,128 1,383 - - SBA certificates 1,196 1,233 - - Mortgage-backed securities 23,529 23,493 125 132 $ 185,827 $ 191,082 $ 2,465 $ 2,861 Information pertaining to investment securities with gross unrealized losses at March 31, 2019 and September 30, 2018, aggregated by investment category and the length of time that individual securities have been in a continuous loss position, follows: Number of Investment Positions Fair Value Gross Unrealized Losses (Dollars in thousands) March 31, 2019: Securities available for sale: Continuous loss position less than twelve months: Agency mortgage-backed 2 $ 2,309 $ 1 Total less than twelve months 2 2,309 1 Continuous loss position more than twelve months: Agency mortgage-backed 19 12,542 214 Agency CMO 12 8,569 121 Privately-issued CMO 1 37 3 SBA certificates 1 519 5 Municipal bonds 23 11,312 198 Total more than twelve months 56 32,979 541 Total securities available for sale 58 $ 35,288 $ 542 September 30, 2018: Securities available for sale: Continuous loss position less than twelve months: Agency mortgage-backed 15 $ 14,814 $ 313 Agency CMO 4 2,560 54 Municipal bonds 93 44,162 944 Total less than twelve months 112 61,536 1,311 Continuous loss position more than twelve months: Agency mortgage-backed 11 9,283 333 Agency CMO 9 7,881 259 Privately-issued CMO 1 37 3 SBA certificates 1 617 7 Municipal bonds 8 6,106 401 Total more than twelve months 30 23,924 1,003 Total securities available for sale 142 $ 85,460 $ 2,314 At March 31, 2019 and September 30, 2018, 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, 2019, which consisted of U.S. government agency mortgage backed securities and CMOs, privately issued CMOs, SBA certificates and municipal bonds, had a fair value as a percentage of amortized cost of 98.49%. 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, 2019, the Company held fourteen privately-issued CMO and ABS securities, acquired in a 2009 bank merger, with an aggregate amortized cost of $1.2 million and fair value of $1.4 million that have been downgraded to a substandard regulatory classification due to the security’s credit quality rating by various nationally recognized statistical rating organizations (“NRSROs”). At March 31, 2019, one privately-issued CMO was in a loss position and had depreciated approximately 8.25% from the Company’s carrying value and was collateralized by residential mortgage loans. This security had a total fair value of $37,000 and a total unrealized loss of $3,000 at March 31, 2019, and was rated below investment grade by NRSROs. 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 remaining privately issued CMO and ABS portfolios. While the Company does not anticipate additional credit-related impairment losses at March 31, 2019, 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 mortgage-backed securities and CMOs, SBA certificates 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 three and six-month periods ended March 31, 2019, the Company realized gross gains on sales of available for sale securities of $1,000, and no gross losses. During the three and six-month periods ended March 31, 2018, the Company did not realize any gross gains or losses on sales of available for sale securities. Certain available for sale debt securities were pledged under repurchase agreements and to secure FHLB borrowings at March 31, 2019 and September 30, 2018, and may be pledged to secure federal funds borrowings. |
Loans and Allowance for Loan Lo
Loans and Allowance for Loan Losses | 6 Months Ended |
Mar. 31, 2019 | |
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract] | |
Loans and Allowance for Loan Losses | 4. Loans and Allowance for Loan Losses Loans at March 31, 2019 and September 30, 2018 consisted of the following: March 31, 2019 September 30, 2018 (In thousands) Real estate mortgage: 1-4 family residential $ 198,526 $ 195,274 Commercial 383,754 343,498 Multifamily residential 34,430 28,814 Residential construction 16,209 19,527 Commercial construction 7,966 8,669 Land and land development 11,812 10,504 Commercial business 77,591 67,786 Consumer: Home equity 24,946 24,635 Auto 14,146 11,720 Other consumer 2,915 2,918 Total Loans 772,295 713,345 Deferred loan origination fees and costs, net 300 249 Allowance for loan losses (9,934 ) (9,323 ) Loans, net $ 762,661 $ 704,271 During the six-month period ended March 31, 2019, there was no significant change in the Company’s lending activities or the 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, 2018. At March 31, 2019 and September 30, 2018, the balance of other real estate owned includes $79,000 and $103,000, respectively, of residential real estate properties where physical possession has been obtained. At March 31, 2019 and September 30, 2018, the recorded investment in consumer mortgage loans collateralized by residential real estate properties in the process of foreclosure was $967,000 and $1.3 million, respectively. The following table provides the components of the recorded investment in loans as of March 31, 2019: Residential Real Estate Commercial Real Estate Multifamily Construction Land & Land Development Commercial Business Consumer Total (In thousands) Recorded Investment in Loans: Principal loan balance $ 198,526 $ 383,754 $ 34,430 $ 24,175 $ 11,812 $ 77,591 $ 42,007 $ 772,295 Accrued interest receivable 610 1,510 91 111 42 443 75 2,882 Net deferred loan origination fees and costs (87 ) 156 (38 ) (6 ) (6 ) 314 (33 ) 300 Recorded investment in loans $ 199,049 $ 385,420 $ 34,483 $ 24,280 $ 11,848 $ 78,348 $ 42,049 $ 775,477 Recorded Investment in Loans as Evaluated for Impairment: Individually evaluated for impairment $ 4,474 $ 8,725 $ - $ - $ - $ 297 $ 220 $ 13,716 Collectively evaluated for impairment 194,575 376,695 34,483 24,280 11,848 78,051 41,829 761,761 Ending balance $ 199,049 $ 385,420 $ 34,483 $ 24,280 $ 11,848 $ 78,348 $ 42,049 $ 775,477 The following table provides the components of the recorded investment in loans as of September 30, 2018: Residential Real Estate Commercial Real Estate Multifamily Construction Land & Land Development Commercial Business Consumer Total (In thousands) Recorded Investment in Loans: Principal loan balance $ 195,274 $ 343,498 $ 28,814 $ 28,196 $ 10,504 $ 67,786 $ 39,273 $ 713,345 Accrued interest receivable 589 1,403 81 156 24 365 69 2,687 Net deferred loan origination fees and costs (62 ) 104 (30 ) (5 ) (4 ) 275 (29 ) 249 Recorded investment in loans $ 195,801 $ 345,005 $ 28,865 $ 28,347 $ 10,524 $ 68,426 $ 39,313 $ 716,281 Recorded Investment in Loans as Evaluated for Impairment: Individually evaluated for impairment $ 5,107 $ 7,719 $ - $ - $ 27 $ 231 $ 243 $ 13,327 Collectively evaluated for impairment 190,694 337,286 28,865 28,347 10,497 68,195 39,070 702,954 Ending balance $ 195,801 $ 345,005 $ 28,865 $ 28,347 $ 10,524 $ 68,426 $ 39,313 $ 716,281 An analysis of the allowance for loan losses as of March 31, 2019 is as follows: Residential Real Estate Commercial Real Estate Multifamily Construction Land & Land Development Commercial Business Consumer Total (In thousands) Ending Allowance Balance Attributable to Loans: Individually evaluated for impairment $ - $ 963 $ - $ - $ - $ 70 $ 11 $ 1,044 Collectively evaluated for impairment 220 5,733 232 515 237 1,465 488 8,890 Ending balance $ 220 $ 6,696 $ 232 $ 515 $ 237 $ 1,535 $ 499 $ 9,934 An analysis of the allowance for loan losses as of September 30, 2018 is as follows: Residential Real Estate Commercial Real Estate Multifamily Construction Land & Land Development Commercial Business Consumer Total (In thousands) Ending Allowance Balance Attributable to Loans: Individually evaluated for impairment $ 7 $ 492 $ - $ - $ - $ - $ 12 $ 511 Collectively evaluated for impairment 267 6,333 195 580 210 1,041 186 8,812 Ending balance $ 274 $ 6,825 $ 195 $ 580 $ 210 $ 1,041 $ 198 $ 9,323 An analysis of the changes in the allowance for loan losses for the three months ended March 31, 2019 is as follows: Residential Real Estate Commercial Real Estate Multifamily Construction Land & Land Development Commercial Business Consumer Total (In thousands) Changes in Allowance for Loan Losses: Beginning balance $ 249 $ 6,716 $ 158 $ 693 $ 219 $ 1,288 $ 297 $ 9,620 Provisions (28 ) (20 ) 74 (178 ) 18 246 228 340 Charge-offs (9 ) - - - - - (39 ) (48 ) Recoveries 8 - - - - 1 13 22 Ending balance $ 220 $ 6,696 $ 232 $ 515 $ 237 $ 1,535 $ 499 $ 9,934 An analysis of the changes in the allowance for loan losses for the six months ended March 31, 2019 is as follows: Residential Real Estate Commercial Real Estate Multifamily Construction Land & Land Development Commercial Business Consumer Total (In thousands) Changes in Allowance for Loan Losses: Beginning balance $ 274 $ 6,825 $ 195 $ 580 $ 210 $ 1,041 $ 198 $ 9,323 Provisions (58 ) (129 ) 37 (65 ) 27 493 350 655 Charge-offs (10 ) - - - - - (81 ) (91 ) Recoveries 14 - - - - 1 32 47 Ending balance $ 220 $ 6,696 $ 232 $ 515 $ 237 $ 1,535 $ 499 $ 9,934 An analysis of the changes in the allowance for loan losses for the three months ended March 31, 2018 is as follows: Residential Real Estate Commercial Real Estate Multifamily Construction Land & Land Development Commercial Business Consumer Total (In thousands) Changes in Allowance for Loan Losses: Beginning balance $ 233 $ 6,106 $ 102 $ 903 $ 219 $ 816 $ 132 $ 8,511 Provisions 17 76 44 82 11 110 31 371 Charge-offs (11 ) - - - - - (32 ) (43 ) Recoveries 9 - - - - 1 15 25 Ending balance $ 248 $ 6,182 $ 146 $ 985 $ 230 $ 927 $ 146 $ 8,864 An analysis of the changes in the allowance for loan losses for the six months ended March 31, 2018 is as follows: Residential Real Estate Commercial Real Estate Multifamily Construction Land & Land Development Commercial Business Consumer Total (In thousands) Changes in Allowance for Loan Losses: Beginning balance $ 252 $ 5,739 $ 106 $ 810 $ 223 $ 839 $ 123 $ 8,092 Provisions (1 ) 443 40 175 7 87 82 833 Charge-offs (24 ) - - - - - (84 ) (108 ) Recoveries 21 - - - - 1 25 47 Ending balance $ 248 $ 6,182 $ 146 $ 985 $ 230 $ 927 $ 146 $ 8,864 The following table presents impaired loans individually evaluated for impairment as of March 31, 2019 and for the three and six months ended March 31, 2019 and 2018. At March 31, 2019 Three Months Ended March 31, Six Months Ended March 31, 2019 2019 2018 2018 2019 2019 2018 2018 Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized (In thousands) Loans with no related allowance recorded: Residential real estate $ 4,474 $ 4,965 $ - $ 5,132 $ 29 $ 5,247 $ 35 $ 5,203 $ 63 $ 5,136 $ 71 Commercial real estate 6,261 6,445 - 6,616 80 6,941 80 6,675 162 6,610 144 Multifamily - - - - - - - - - - - Construction - - - - - - - - - - - Land and land development - - - - - 29 - 12 - 29 - Commercial business 200 209 - 277 2 361 4 283 4 291 6 Consumer 111 115 - 118 1 121 1 119 2 110 2 $ 11,046 $ 11,734 $ - $ 12,143 $ 112 $ 12,699 $ 120 $ 12,292 $ 231 $ 12,176 $ 223 Loans with an allowance recorded: Residential real estate $ - $ - $ - $ 91 $ - $ 255 $ - $ 172 $ - $ 272 $ - Commercial real estate 2,464 2,538 963 2,104 - - - 1,722 - - - Multifamily - - - - - - - - - - - Construction - - - - - - - - - - - Land and land development - - - - - - - - - - - Commercial business 97 80 70 20 - - - 11 - - - Consumer 109 109 11 153 - 129 - 164 - 124 - $ 2,670 $ 2,727 $ 1,044 $ 2,368 $ - $ 384 $ - $ 2,069 $ - $ 396 $ - Total: Residential real estate $ 4,474 $ 4,965 $ - $ 5,223 $ 29 $ 5,502 $ 35 $ 5,375 $ 63 $ 5,408 $ 71 Commercial real estate 8,725 8,983 963 8,720 80 6,941 80 8,397 162 6,610 144 Multifamily - - - - - - - - - - - Construction - - - - - - - - - - - Land and land development - - - - - 29 - 12 - 29 - Commercial business 297 289 70 297 2 361 4 294 4 291 6 Consumer 220 224 11 271 1 250 1 283 2 234 2 $ 13,716 $ 14,461 $ 1,044 $ 14,511 $ 112 $ 13,083 $ 120 $ 14,361 $ 231 $ 12,572 $ 223 The Company did not recognize any interest income using the cash receipts method during the three- and six-month periods ended March 31, 2019 and 2018. The following table presents impaired loans individually evaluated for impairment as of September 30, 2018. Recorded Investment Unpaid Principal Balance Related Allowance (In thousands) Loans with no related allowance recorded: Residential real estate $ 4,833 $ 5,285 $ - Commercial real estate 6,568 6,715 - Multifamily - - - Construction - - - Land and land development 27 28 - Commercial business 231 241 - Consumer 122 123 - $ 11,781 $ 12,392 $ - Loans with an allowance recorded: Residential real estate $ 274 $ 282 $ 7 Commercial real estate 1,151 1,293 492 Multifamily - - - Construction - - - Land and land development - - - Commercial business - - - Consumer 121 128 12 $ 1,546 $ 1,703 $ 511 Total: Residential real estate $ 5,107 $ 5,567 $ 7 Commercial real estate 7,719 8,008 492 Multifamily - - - Construction - - - Land and land development 27 28 - Commercial business 231 241 - Consumer 243 251 12 $ 13,327 $ 14,095 $ 511 Nonperforming loans consist 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, 2019: Nonaccrual Loans Loans 90+ Days Past Due Still Accruing Total Nonperforming Loans (In thousands) Residential real estate $ 2,446 $ 141 $ 2,587 Commercial real estate 2,529 - 2,529 Multifamily - - - Construction - - - Land and land development - - - Commercial business 97 - 97 Consumer 143 15 158 Total $ 5,215 $ 156 $ 5,371 The following table presents the recorded investment in nonperforming loans at September 30, 2018: Nonaccrual Loans Loans 90+ Days Past Due Still Accruing Total Nonperforming Loans (In thousands) Residential real estate $ 2,711 $ 91 $ 2,802 Commercial real estate 1,284 - 1,284 Multifamily - - - Construction - - - Land and land development 27 - 27 Commercial business - - - Consumer 160 - 160 Total $ 4,182 $ 91 $ 4,273 The following table presents the aging of the recorded investment in past due loans at March 31, 2019: 30-59 Days Past Due 60-89 Days Past Due 90 + Days Past Due Total Past Due Current Total Loans (In thousands) Residential real estate $ 2,423 $ 71 $ 782 $ 3,276 $ 195,773 $ 199,049 Commercial real estate 843 29 2,057 2,929 382,491 385,420 Multifamily - - - - 34,483 34,483 Construction - - - - 24,280 24,280 Land and land development 39 48 - 87 11,761 11,848 Commercial business 53 - 96 149 78,199 78,348 Consumer 78 1 15 94 41,955 42,049 Total $ 3,436 $ 149 $ 2,950 $ 6,535 $ 768,942 $ 775,477 The following table presents the aging of the recorded investment in past due loans at September 30, 2018: 30-59 Days Past Due 60-89 Days Past Due 90 + Days Past Due Total Past Due Current Total Loans (In thousands) Residential real estate $ 2,088 $ 649 $ 1,202 $ 3,939 $ 191,862 $ 195,801 Commercial real estate 696 - 210 906 344,099 345,005 Multifamily - - - - 28,865 28,865 Construction - - - - 28,347 28,347 Land and land development - 27 - 27 10,497 10,524 Commercial business 7 - - 7 68,419 68,426 Consumer 43 37 32 112 39,201 39,313 Total $ 2,834 $ 713 $ 1,444 $ 4,991 $ 711,290 $ 716,281 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, 2019, and based on the most recent analysis performed, the recorded investment in loans by risk category was as follows: Residential Real Estate Commercial Real Estate Multifamily Construction Land and Land Development Commercial Business Consumer Total (In thousands) Pass $ 194,698 $ 375,796 $ 33,998 $ 24,280 $ 11,848 $ 75,176 $ 41,979 $ 757,775 Special Mention - 1,063 - - - 400 - 1,463 Substandard 4,285 8,561 485 - - 2,772 67 16,170 Doubtful 66 - - - - - 3 69 Loss - - - - - - - - Total $ 199,049 $ 385,420 $ 34,483 $ 24,280 $ 11,848 $ 78,348 $ 42,049 $ 775,477 As of September 30, 2018, the recorded investment in loans by risk category was as follows: Residential Real Estate Commercial Real Estate Multifamily Construction Land and Land Development Commercial Business Consumer Total (In thousands) Pass $ 190,647 $ 338,256 $ 28,365 $ 28,347 $ 10,207 $ 66,162 $ 39,246 $ 701,230 Special Mention 19 - - - 290 - - 309 Substandard 5,061 6,749 500 - 27 2,264 67 14,668 Doubtful 74 - - - - - - 74 Loss - - - - - - - - Total $ 195,801 $ 345,005 $ 28,865 $ 28,347 $ 10,524 $ 68,426 $ 39,313 $ 716,281 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, 2019 and September 30, 2018. There was no specific reserve included in the allowance for loan losses related to TDRs at March 31, 2019. There was $5,000 of specific reserve included in the allowance for loan losses related to TDRs at September 30, 2018. Accruing Nonaccrual Total (In thousands) March 31, 2019: Residential real estate $ 2,028 $ 293 $ 2,321 Commercial real estate 6,196 65 6,261 Commercial business 200 - 200 Consumer 77 - 77 Total $ 8,501 $ 358 $ 8,859 September 30, 2018: Residential real estate $ 2,396 $ 21 $ 2,417 Commercial real estate 6,435 65 6,500 Commercial business 231 - 231 Consumer 83 - 83 Total $ 9,145 $ 86 $ 9,231 There were no TDRs that were restructured during the three- and six-month periods ended March 31, 2019. The following table summarizes information in regard to TDRs that were restructured during the three- and six-month periods ended March 31, 2018: Number of Loans Pre- Modification Principal Balance Post- Modification Principal Balance (Dollars in thousands) Three Months Ended March 31, 2018: Residential real estate 1 $ 140 $ 120 Total 1 $ 140 $ 120 Six Months Ended March 31, 2018: Residential real estate 1 $ 140 $ 120 Commercial real estate 1 1,674 1,674 Commercial business 1 170 170 Consumer 1 3 3 Total 4 $ 1,987 $ 1,967 For the TDRs listed above, the terms of modification included deferral of contractual principal and interest payments, 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. At March 31, 2019 and September 30, 2018, the Company had committed to lend $1,000 to customers with outstanding loans classified as TDRs. There were no principal charge-offs recorded as a result of TDRs during the three- and six-month periods ended March 31, 2019 and 2018. There was no specific allowance for loan losses related to TDRs modified during the three- and six-month periods ended March 31, 2019 and 2018. 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, 2019, the Company had one TDR with an outstanding balance of $114,000 that was modified within the previous twelve months and for which there was a payment default. During the three month period ended March 31, 2019 and the three- and six-month periods ended March 31, 2018, the Company did not have any TDRs that were modified within the previous twelve months and for which there was a payment default. Loan Servicing Rights The Company originates loans to commercial customers under the SBA 7(a) and other programs, and sells the guaranteed portion of the SBA loans with servicing rights retained. Loan servicing rights on originated SBA loans that have been sold are initially recorded at fair value. Capitalized servicing rights are then amortized in proportion to and over the period of estimated net servicing income. Impairment of servicing rights is assessed using the present value of estimated future cash flows. The aggregate fair value of loan servicing rights approximates its carrying value. A valuation model employed by an independent third party calculates the present value of future cash flows and is used to estimate fair value at the date of sale and on a quarterly basis for impairment analysis purposes. Management periodically compares the valuation model inputs and results to published industry data in order to validate the model results and assumptions. Key assumptions used to estimate the fair value of the loan servicing rights include the discount rate and prepayment speed assumptions. For purposes of impairment, risk characteristics such as interest rate, loan type, term and investor type are used to stratify the loan servicing rights. Impairment is recognized through a valuation allowance to the extent that fair value is less than the carrying amount. Changes in the valuation allowance are reported in net gain on sales of loans in the consolidated statements of income. The unpaid principal balance of SBA loans serviced for others was $137.6 million, $120.6 million and $96.9 million at March 31, 2019, September 30, 2018 and March 31, 2018, respectively. Contractually specified late fees and ancillary fees earned on SBA loans were $9,000 and $16,000 for the three- and six-month periods ended March 31, 2019, respectively. Contractually specified late fees and ancillary fees earned on SBA loans were $6,000 and $9,000 for the three- and six-month periods ended March 31, 2018, respectively. Net servicing income (contractually specified servicing fees offset by direct servicing expenses) related to SBA loans was $301,000 and $573,000 for the three- and six-month periods ended March 31, 2019, respectively. Net servicing income (contractually specified servicing fees offset by direct servicing expenses) related to SBA loans was $191,000 and $341,000 for the three- and six-month periods ended March 31, 2018, respectively. Net servicing income and costs are included in other noninterest income in the consolidated statements of income. An analysis of SBA loan servicing rights for the three- and six-month periods ended March 31, 2019 and 2018 is as follows: Three Months Ended Six Months Ended March 31, March 31, (In thousands) 2019 2018 2019 2018 (In thousands) Balance, beginning of period $ 2,554 $ 1,746 $ 2,405 $ 1,389 Servicing rights resulting from transfers of loans 192 438 443 867 Amortization (151 ) (68 ) (253 ) (140 ) Change in valuation allowance - - - - Balance, end of period $ 2,595 $ 2,116 $ 2,595 $ 2,116 Residential mortgage loans originated for sale in the secondary market continue to be sold with servicing released. The valuation allowance related to SBA loan servicing rights was $177,000 at March 31, 2019 and September 30, 2018. |
Deposits
Deposits | 6 Months Ended |
Mar. 31, 2019 | |
Debt Disclosure [Abstract] | |
Deposits | 5. Deposits Deposits at March 31, 2019 and September 30, 2018 consisted of the following: March 31, 2019 September 30, 2018 (In thousands) Noninterest-bearing demand deposits $ 162,901 $ 167,705 NOW accounts 170,454 173,543 Money market accounts 104,691 107,124 Savings accounts 121,978 120,995 Retail time deposits 136,640 123,007 Brokered time deposits 128,106 118,738 Total $ 824,770 $ 811,112 |
Supplemental Disclosure for Ear
Supplemental Disclosure for Earnings Per Share | 6 Months Ended |
Mar. 31, 2019 | |
Earnings Per Share [Abstract] | |
Supplemental Disclosure for Earnings Per Share | 6. Supplemental Disclosure for Earnings Per Share Earnings per share information is presented below for the three- and six-month periods ended March 31, 2019 and 2018. Three Months Ended Six Months Ended March 31, March 31, 2019 2018 2019 2018 (Dollars in thousands, except per share data) Basic: Earnings: Net income attributable to First Savings Financial Group, Inc. $ 3,533 $ 1,646 $ 6,464 $ 5,052 Shares: Weighted average common shares outstanding, basic 2,307,155 2,251,425 2,295,788 2,239,823 Net income per common share, basic $ 1.53 $ 0.73 $ 2.82 $ 2.26 Diluted: Earnings: Net income attributable to First Savings Financial Group, Inc. $ 3,533 $ 1,646 $ 6,464 $ 5,052 Shares: Weighted average common shares outstanding, basic 2,307,155 2,251,425 2,295,788 2,239,823 Add: Dilutive effect of outstanding options 50,205 113,176 65,650 117,518 Add: Dilutive effect of restricted stock 2,644 5,659 5,086 6,265 Weighted average common shares outstanding, as adjusted 2,360,004 2,370,260 2,366,524 2,363,606 Net income per common share, diluted $ 1.50 $ 0.69 $ 2.73 $ 2.14 Nonvested restricted stock shares are not considered as outstanding for purposes of computing weighted average common shares outstanding. There were no antidilutive restricted stock awards excluded from the calculation of diluted net income per share for the three- and six-month periods ended March 31, 2019 and 2018. Stock options for 10,200 shares of common stock were excluded from the calculation of diluted net income per common share for the three- and six-month periods ended March 31, 2019, because their effect was antidilutive. There were no antidilutive stock options or restricted stock awards excluded from the calculation of diluted net income per share for the three- and six-month periods ended March 31, 2018. |
Supplemental Disclosures of Cas
Supplemental Disclosures of Cash Flow Information | 6 Months Ended |
Mar. 31, 2019 | |
Supplemental Cash Flow Elements [Abstract] | |
Supplemental Disclosures of Cash Flow Information | 7. Supplemental Disclosures of Cash Flow Information Six Months Ended March 31, 2019 2018 ( In thousands ) Cash payments for: Interest $ 4,095 $ 2,766 Income taxes (net of refunds received) 337 1,214 Noncash investing activities: Transfers from loans held for sale to loans - 560 Transfers from loans to foreclosed real estate 224 - Proceeds from sales of foreclosed real estate financed through loans 47 427 Noncash exercise of stock options 542 387 Transfers from premises and equipment to other real estate owned 1,838 - |
Fair Value Measurements and Dis
Fair Value Measurements and Disclosures about Fair Value of Financial Instruments | 6 Months Ended |
Mar. 31, 2019 | |
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 FASB 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 and liabilities carried at fair value or the lower of cost or fair value. The tables below present the balances of financial assets and liabilities measured at fair value on a recurring and nonrecurring basis as of March 31, 2019 and September 30, 2018. The Company had no liabilities measured at fair value as of September 30, 2018. Carrying Value Level 1 Level 2 Level 3 Total (In thousands) March 31, 2019: Assets Measured - Recurring Basis: Securities available for sale: Agency mortgage-backed $ - $ 23,493 $ - $ 23,493 Agency CMO - 11,630 - 11,630 Privately-issued CMO - 1,433 - 1,433 Privately-issued ABS - 1,383 - 1,383 SBA certificates - 1,233 - 1,233 Municipal - 151,910 - 151,910 Total securities available for sale $ - $ 191,082 $ - $ 191,082 Residential mortgage loans held for sale – fair value option elected $ - $ 25,017 $ - $ 25,017 Derivative assets (included in other assets) $ - $ - $ 1,705 $ 1,705 Liabilities Measured – Recurring Basis: Derivative liabilities (included in other liabilities) $ - $ 384 $ - $ 384 Assets Measured - Nonrecurring Basis: Impaired loans: Residential real estate $ - $ - $ 4,474 $ 4,474 Commercial real estate - - 7,762 7,762 Commercial business - - 227 227 Consumer - - 209 209 Total impaired loans $ - $ - $ 12,672 $ 12,672 SBA loans held for sale $ - $ - $ 23,786 $ 23,786 Loan servicing rights $ - $ - $ 2,595 $ 2,595 Other real estate owned, held for sale: Residential real estate $ - $ - $ 79 $ 79 Former bank premises - - 1,838 1,838 Total other real estate owned $ - $ - $ 1,917 $ 1,917 Carrying Value Level 1 Level 2 Level 3 Total (In thousands) September 30, 2018: Assets Measured - Recurring Basis: Securities available for sale: Agency mortgage-backed $ - $ 31,130 $ - $ 31,130 Agency CMO - 10,441 - 10,441 Privately-issued CMO - 1,579 - 1,579 Privately-issued ABS - 1,884 - 1,884 SBA certificates - 1,351 - 1,351 Municipal - 137,988 - 137,988 Total securities available for sale $ - $ 184,373 $ - $ 184,373 Residential mortgage loans held for sale – fair value option elected $ - $ 9,952 $ - $ 9,952 Derivative assets (included in other assets) $ - $ 41 $ 380 $ 421 Assets Measured - Nonrecurring Basis: Impaired loans: Residential real estate $ - $ - $ 5,100 $ 5,100 Commercial real estate - - 7,227 7,227 Land and land development - - 27 27 Commercial business - - 231 231 Consumer - - 231 231 Total impaired loans $ - $ - $ 12,816 $ 12,816 Residential mortgage loans held for sale – fair value option not elected $ - $ 514 $ - $ 514 SBA loans held for sale $ - $ 21,659 $ - $ 21,659 Loan servicing rights $ - $ - $ 2,405 $ 2,405 Other real estate owned, held for sale: Residential real estate $ - $ - $ 103 $ 103 Total other real estate owned $ - $ - $ 103 $ 103 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 at 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. Other than SBA loans held for sale (see discussion below), there have been no changes in the valuation techniques and related inputs used for assets measured at fair value on a recurring and nonrecurring basis during the six-month period ended March 31, 2019. Securities Available for Sale. Securities classified as 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. For securities where quoted market prices, market prices of similar securities or prices from an independent third party pricing service are not available, fair values are calculated using discounted cash flows or other market indicators and are classified within Level 3 of the fair value hierarchy. Changes in fair value of securities available for sale are recorded in other comprehensive income, net of income tax effect. Residential Mortgage Loans Held for Sale . Prior to June 30, 2018, residential mortgage loans held for sale were carried at the lower of cost or market value. Effective July 1, 2018, the Company elected to record substantially all of its residential mortgage loans held for sale at fair value in accordance with FASB ASC 825-10. The fair value of residential mortgage loans held for sale is based on specific prices of the underlying contracts for sale to investors or current secondary market prices for loans with similar characteristics, and is classified as level 2 in the fair value hierarchy. SBA Loans Held for Sale . SBA loans held for sale are carried at the lower of cost or market value. At September 30, 2018, the fair value of SBA loans held for sale was obtained from an independent third party pricing firm based on specific prices of the underlying contracts for sale to investors or current secondary market prices for loans with similar characteristics, and was classified as Level 2 in the fair value hierarchy. At March 31, 2019, the fair value of SBA loans held for sale reflects management’s estimate based on the weighted average price of SBA loans sold to investors during the prior quarter and is classified as Level 3 in the fair value hierarchy. Derivative Financial Instruments . Derivative financial instruments consist of mortgage banking interest rate lock commitments and forward mortgage loan sale commitments. The fair value of forward mortgage loan sale commitments is obtained from an independent third party and is based on the gain or loss that would occur if the Company were to pair-off the sales transaction with the investor. The fair value of forward mortgage loan sale commitments is classified as Level 2 in the fair value hierarchy. The fair value of interest rate lock commitments is also obtained from an independent third party and is based on investor prices for the underlying loans or current secondary market prices for loans with similar characteristics, less estimated costs to originate the loans and adjusted for the anticipated funding probability (pull-through rate). The fair value of interest rate lock commitments is classified as Level 3 in the fair value hierarchy. The table below presents a reconciliation of derivative assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the three- and six-months ended March 31, 2019 and 2018: Three Months Ended Six Months Ended March 31, March 31, (In thousands) 2019 2018 2019 2018 Beginning balance $ 658 $ - $ 380 $ - Unrealized gains recognized in earnings 1,047 - 1,325 - Ending balance $ 1,705 $ - $ 1,705 $ - The realized and unrealized gains recognized in earnings in the table above are included in mortgage banking income on the accompanying consolidated statements of income. Gains recognized in earnings for the three- and six-months ended March 31, 2019 attributable to Level 3 assets held at the balance sheet date were $1.7 million. The table below presents information about significant unobservable inputs (Level 3) used in the valuation of assets measured at fair value on a recurring basis as of March 31, 2019 and September 30, 2018. Financial Instrument Significant Unobservable Inputs Range of Inputs March 31, 2019 Range of Inputs September 30, 2018 Interest rate lock commitments Pull-through rate 69 97 72 95 Direct costs to close 1 1 3 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. At March 31, 2019 and September 30, 2018, all impaired loans were considered to be collateral dependent for the purpose of determining fair value. 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, 2019 and September 30, 2018, the significant unobservable inputs used in the fair value measurement of impaired loans included discounts 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 periods ended March 31, 2019 and 2018, the Company recognized provisions for loan losses of $379,000 and $16,000, respectively, for impaired loans. During the six-month periods ended March 31, 2019 and 2018, the Company recognized provisions for loan losses of $546,000 and $18,000, respectively, for impaired loans. Loan Servicing Rights . Loan servicing rights represent the value associated with servicing SBA loans that have been sold. The fair value of loan servicing rights is determined on a quarterly basis by an independent third party valuation model using market-based discount rate and prepayment assumptions, and is classified as Level 3 in the fair value hierarchy. At March 31, 2019, the significant unobservable inputs used in the fair value measurement of loan servicing rights included discount rates ranging from 8.41% to 21.18% with a weighted average of 12.36% and prepayment speed assumptions ranging from 5.55% to 17.72% with a weighted average rate of 12.04%. At September 30, 2018, the significant unobservable inputs used in the fair value measurement of loan servicing rights included discount rates ranging from 10.84% to 23.22% with a weighted average of 14.63% and prepayment speed assumptions ranging from 4.32% to 14.43% with a weighted average rate of 10.08%. Impairment of the loan servicing rights is recognized on a quarterly basis through a valuation allowance to the extent that fair value is less than the carrying amount. The Company did not recognize any impairment charges on loan servicing rights for the three- and six-month periods ended March 31, 2019 and 2018. 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, 2019, the significant unobservable inputs used in the fair value measurement of other real estate owned included a discount from appraised value (including estimated costs to sell the property) ranging from 15.0% to 67.1% with a weighted average of 28.7%. At September 30, 2018, the significant unobservable inputs used in the fair value measurement of other real estate owned included a discount from appraised value (including estimated costs to sell the property) ranging from 15.0% to 100.0% with a weighted average of 48.9%. The Company did not recognize any charges to write down other real estate owned to fair value for the three- and six-month periods ended March 31, 2019 49,000 59,000 2018. Transfers Between Categories. As previously described, management used different valuation methodologies related to SBA loans held for sale at March 31, 2019 and September 30, 2018, resulting in a change in classification from Level 2 to Level 3 for those types of instruments. Other than that change, there were no transfers into or out of Levels 1, 2, or 3 of the fair value hierarchy for the three- and six-month periods ended March 31, 2019 and 2018. Financial Instruments Recorded Using Fair Value Option. Under FASB ASC 825-10, the Company may elect to report most financial instruments and certain other items at fair value on an instrument-by-instrument basis, with changes in fair value reported in income. The election is made at the acquisition of an eligible financial asset or financial liability, and may not be revoked once made. The Company has elected the fair value option for substantially all of its residential mortgage loans held for sale effective July 1, 2018, including all loans originated by the wholesale lending division. These loans are intended for sale and the Company believes that the fair value is the best indicator of the resolution of these loans. Interest income is recorded based on the contractual terms of the loans and in accordance with the Company’s policy on loans held for investment. There was one loan that was 90 days or more past due but has not been placed in nonaccrual status as of March 31, 2019 with an outstanding principal balance of less than $1,000. There were no loans that 90 days or more past due, nor were any on nonaccrual status as of September 30, 2018. The table below presents the difference between the aggregate fair value and the aggregate remaining principal balance for residential mortgage loans held for sale for which the fair value option had been elected as of March 31, 2019 and September 30, 2018. (In thousands) Aggregate Fair Value March 31, 2019 Aggregate Principal Balance March 31, 2019 Difference Residential mortgage loans held for sale $ 25,017 $ 23,959 $ 1,058 (In thousands) Aggregate Fair Value September 30, 2018 Aggregate Principal Balance September 30, 2018 Difference Residential mortgage loans held for sale $ 9,952 $ 9,695 $ 257 The table below presents gains and losses and interest included in earnings related to financial assets measured at fair value under the fair value option for the three- and six-month periods ended March 31, 2019 and 2018: Three Months Ended Six Months Ended March 31, March 31, (In thousands) 2019 2018 2019 2018 Gains – included in mortgage banking income $ 437 $ - $ 1,026 $ - Interest income 187 - 341 - $ 624 $ - $ 1,367 $ - 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. In accordance with the Company’s adoption of Accounting Standards Update (“ASU”) 2016-01 effective October 1, 2018, the table below for March 31, 2019 presents the fair values measured using an exit price notion. The fair value of loans at September 30, 2018 was measured using an entry price notion. Carrying Fair Value Measurements Using: Amount Level 1 Level 2 Level 3 (In thousands) March 31, 2019: Financial assets: Cash and due from banks $ 11,617 $ 11,617 $ - $ - Interest-bearing deposits with banks 28,825 28,825 - - Interest-bearing time deposits 2,963 - 2,958 - Securities available for sale 191,082 - 191,082 - Securities held to maturity 2,465 - 2,861 - Loans, net 762,661 - - 727,442 Residential mortgage loans held for sale 25,017 - 25,017 - SBA loans held for sale 23,786 - - 26,407 FRB and FHLB stock 10,196 N/A N/A N/A Accrued interest receivable 4,602 - 4,602 - Loan servicing rights (included in other assets) 2,595 - - 2,595 Derivative assets (included in other assets) 1,705 - - 1,705 Financial liabilities: Deposits 824,770 - - 824,193 Short-term repurchase agreements 1,353 - 1,353 - Borrowings from FHLB 160,938 - 155,264 - Subordinated note 19,695 - 19,695 - Accrued interest payable 1,325 - 1,325 - Advance payments by borrowers for taxes and insurance 1,274 - 1,274 - Derivative liabilities (included in other liabilities) 384 - 384 - Carrying Fair Value Measurements Using: Amount Level 1 Level 2 Level 3 (In thousands) September 30, 2018: Financial assets: Cash and due from banks $ 14,191 $ 14,191 $ - $ - Interest-bearing deposits with banks 28,083 28,083 - - Interest-bearing time deposits 2,501 - 2,494 - Securities available for sale 184,373 - 184,373 - Securities held to maturity 2,607 - 2,896 - Residential mortgage loans held for sale 10,466 - 10,476 - SBA loans held for sale 21,659 - 23,488 - Loans, net 704,271 - - 673,652 FRB and FHLB stock 9,621 N/A N/A N/A Accrued interest receivable 4,287 - 4,287 - Loan servicing rights (included in other assets) 2,405 - - 2,405 Derivative assets (included in other assets) 421 - 41 380 Financial liabilities: Deposits 811,112 - - 809,305 Short-term repurchase agreements 1,352 - 1,352 - Borrowings from FHLB 90,000 - 84,175 - Subordinated note 19,661 - 19,661 - Accrued interest payable 743 - 743 - Advance payments by borrowers for taxes and insurance 1,218 - 1,218 - |
Employee Stock Ownership Plan
Employee Stock Ownership Plan | 6 Months Ended |
Mar. 31, 2019 | |
Retirement Benefits [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. The ESOP loan was repaid in full during the quarter ended December 31, 2015 and all shares have been allocated to participants in the plan therefore no compensation expense was recognized for the three- and six-month periods ended March 31, 2019 and 2018. The ESOP trust held 147,110 and 151,999 shares of Company common stock at March 31, 2019 and September 30, 2018, respectively. |
Stock Based Compensation Plans
Stock Based Compensation Plans | 6 Months Ended |
Mar. 31, 2019 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Stock Based Compensation Plans | 10. Stock Based Compensation Plans The Company maintains two equity incentive plans under which stock options and restricted stock have been or can be granted, the 2010 Equity Incentive Plan (“2010 Plan”), approved by the Company’s shareholders in February 2010, and the 2016 Equity Incentive Plan (“2016 Plan”), approved by the Company’s shareholders in February 2016. The aggregate number of shares of the Company’s common stock available for issuance under the 2016 Plan may not exceed 88,000 shares, consisting of 66,000 stock options and 22,000 shares of restricted stock. At March 31, 2019, 8,658 shares of the Company’s common stock were available for issuance under the 2010 Plan as stock options and 11,991 shares of the Company’s common stock were available for issuance under the 2016 Plan, consisting of 10,555 stock options and 1,436 shares of restricted stock. Stock Options Under the plans, the Company may grant both non-statutory and incentive stock options that may not have a term exceeding ten years. In the case of incentive stock options, the aggregate fair value (determined at the time the incentive stock options are granted) which are first exercisable during any calendar year shall not exceed $100,000. Exercise prices generally may not be less than the fair market value of the underlying stock at the date of the grant. The terms of the plans also include provisions whereby all unearned options and restricted shares become immediately exercisable and fully vested upon a change in control. Stock options granted generally 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 fair market value of stock options granted is estimated at the date of grant using a binomial option pricing model. Expected volatilities are based on historical volatility of the Company’s stock. The expected term of options granted represents the period of time that options are expected to be outstanding. The risk free rate for the expected life of the options is based on the U.S. Treasury yield curve in effect at the grant date. The fair value of options granted during the six-month period ended March 31, 2019 was determined using the following assumptions: Expected dividend yield 1.75 % Risk-free interest rate 2.13 % Expected volatility 14.6 % Expected life of options 7.5 years Weighted average fair value at grant date $ 6.13 A summary of stock option activity as of March 31, 2019, and changes during the six-month period then ended is presented below. Number of Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term (Years) Aggregate Intrinsic Value (Dollars in thousands, except per share data) Outstanding at beginning of period 150,033 $ 24.88 Granted 2,400 59.23 Exercised (61,484 ) 14.30 Forfeited or expired (750 ) 40.09 Outstanding at end of period 90,199 $ 32.88 5.4 $ 2,001 Vested and expected to vest 90,199 $ 32.88 5.4 $ 2,001 Exercisable at end of period 50,872 $ 22.90 3.4 $ 1,586 The intrinsic value of stock options exercised during the six-month period ended March 31, 2019 was $2.4 million. The intrinsic value of stock options exercised during the six-month period ended March 31, 2018 was $2.1 million. The Company recognized compensation expense related to stock options of $17,000 and $35,000 for the three- and six-month periods ended March 31, 2019, respectively. The Company recognized compensation expense related to stock options of $16,000 and $33,000 for the three- and six-month periods ended March 31, 2018, respectively. At March 31, 2019, there was $211,000 of unrecognized compensation expense related to nonvested stock options. The compensation expense is expected to be recognized over the remaining vesting period of 4.6 years. Restricted Stock The vesting period of restricted stock granted under the plans is generally five years beginning one year after the date of grant of the awards. Compensation expense is measured based on the fair market value of the restricted stock at the grant date and is recognized ratably over the vesting period. Compensation expense related to restricted stock recognized for the three and six-month periods ended March 31, 2019 was $44,000 and $85,000, respectively. Compensation expense related to restricted stock recognized for the three and six-month periods ended March 31, 2018 was $37,000 and $73,000, respectively. A summary of the Company’s nonvested restricted shares activity as of March 31, 2019 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, 2018 14,812 $ 41.20 Granted 2,500 $ 59.23 Vested (3,653 ) $ 40.99 Forfeited (201 ) $ 40.09 Nonvested at March 31, 2019 13,458 $ 44.62 There were 3,653 restricted shares vested during the six-month period ended March 31, 2019 with a total fair value of $216,000. There were 3,453 restricted shares that vested during the six-month period ended March 30, 2018 with a total fair value of $195,000. At March 31, 2019, there was $534,000 of unrecognized compensation expense related to nonvested restricted shares. The compensation expense is expected to be recognized over the remaining vesting period of 4.6 years. |
Derivative Financial Instrument
Derivative Financial Instruments | 6 Months Ended |
Mar. 31, 2019 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative Financial Instruments | 11. Derivative Financial Instruments The Company enters into commitments to originate loans whereby the interest rate on the loan is determined prior to funding (i.e., rate lock commitment). The Company also enters into forward mortgage loan commitments to sell to various investors to protect itself against exposure to various factors and to reduce sensitivity to interest rate movements. Both the interest rate lock commitments and the related forward mortgage loan sales contracts are considered derivatives and are recorded on the balance sheet at fair value in accordance with FASB ASC 815, Derivatives and Hedging , with changes in fair value recorded in mortgage banking income in the accompanying consolidated statements of income. All such derivatives are considered stand-alone derivatives and have not been formally designated as hedges by management. Certain financial instruments, including derivatives, may be eligible for offset in the balance sheet when the “right of setoff” exists or when the instruments are subject to an enforceable master netting agreement, which includes the right of the non-defaulting party or non-affected party to offset recognized amounts, including collateral posted with the counterparty, to determine a net receivable or net payable upon early termination of the agreement. Certain of the Company’s derivative instruments are subject to master netting agreements. However, the Company has not elected to offset such financial instruments in the consolidated balance sheets. The tables below provide information on the Company’s derivative financial instruments as of March 31, 2019 and September 30, 2018. (In thousands) Notional Amount March 31, 2019 Asset Derivatives March 31, 2019 Liability Derivatives March 31, 2019 Interest rate lock commitments $ 89,782 $ 1,705 $ - Forward mortgage loan sale contracts 63,500 - 384 $ 153,282 $ 1,705 $ 384 (In thousands) Notional Amount September 30, 2018 Asset Derivatives September 30, 2018 Liability Derivatives September 30, 2018 Interest rate lock commitments $ 16,634 $ 380 $ - Forward mortgage loan sale contracts 13,750 41 - $ 30,384 $ 421 $ - Income (loss) related to derivative financial instruments included in mortgage banking income in the accompanying consolidated statements of income for the three- and six-month periods ended March 31, 2019 and 2018 is as follows: Three Months Ended Six Months Ended March 31, March 31, (In thousands) 2019 2018 2019 2018 Interest rate lock commitments $ 1,047 $ - $ 1,325 $ - Forward mortgage loan sale contracts (624 ) - (775 ) - $ 423 $ - $ 550 $ - |
Regulatory Capital
Regulatory Capital | 6 Months Ended |
Mar. 31, 2019 | |
Banking and Thrift [Abstract] | |
Regulatory Capital | 12. Regulatory Capital The Company and Bank are subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Company’s consolidated financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Company and Bank must meet specific capital guidelines that involve quantitative measures of the Company’s and Bank’s assets, liabilities, and certain off-balance-sheet items as calculated under regulatory accounting practices. The Company’s and Bank’s capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. Quantitative measures established by regulation to ensure capital adequacy require the Company and Bank to maintain minimum amounts and ratios (set forth in the table below) of total, Tier 1 and common equity Tier 1 capital (as defined in the regulations) to risk-weighted assets (as defined), and Tier 1 capital (as defined) to average assets (as defined). The final rules implementing the Basel Committee on Banking Supervision’s capital guidelines for U.S. banks (“Basel III rules”) became effective for the Company and the Bank on January 1, 2015, with full compliance with all of the requirements being phased in over a multi-year schedule through 2019. Under the Basel III rules, the Bank must hold a conservation buffer above the adequately capitalized risk-based capital ratios disclosed in the table below. The capital conservation buffer was phased in from 0.0% for 2015 to 2.5% by 2019. The capital conservation buffer was 1.875% for 2018 and 2.5% for 2019. The Company and Bank met all capital adequacy requirements to which they are subject as of March 31, 2019 and September 30, 2018. As of March 31, 2019, the most recent notification from the Federal Reserve Bank categorized the Bank as well capitalized under the regulatory framework for prompt corrective action. To be categorized as well capitalized, the Bank must maintain minimum total risk-based, Tier 1 risk-based, common equity Tier 1 risk-based and Tier 1 leverage ratios as set forth in the table below. There are no conditions or events since that notification that management believes have changed the Bank’s category. The Company’s and Bank’s actual capital amounts and ratios are also presented in the table. No amount was deducted from capital for interest-rate risk at either period. Minimum To Be Well Minimum Capitalized Under For Capital Prompt Corrective Actual Adequacy Purposes: Action Provisions: Amount Ratio Amount Ratio Amount Ratio (Dollars in thousands) As of March 31, 2019: Total capital (to risk-weighted assets): Consolidated $ 121,718 14.12 % $ 68,978 8.00 % N/A N/A Bank 111,468 12.95 68,854 8.00 $ 86,068 10.00 % Tier 1 capital (to risk-weighted assets): Consolidated $ 92,089 10.68 % $ 51,733 6.00 % N/A N/A Bank 101,534 11.80 51,641 6.00 $ 68,854 8.00 % Common equity tier 1 capital (to risk-weighted assets): Consolidated $ 92,089 10.68 % $ 38,800 4.50 % N/A N/A Bank 101,534 11.80 38,730 4.50 $ 55,944 6.50 % Tier 1 capital (to average adjusted total assets): Consolidated $ 92,089 8.42 % $ 43,751 4.00 % N/A N/A Bank 101,534 9.31 43,623 4.00 $ 54,529 5.00 % As of September 30, 2018: Total capital (to risk-weighted assets): Consolidated $ 114,911 14.50 % $ 63,402 8.00 % N/A N/A Bank 102,281 12.92 63,312 8.00 $ 79,140 10.00 % Tier 1 capital (to risk-weighted assets): Consolidated $ 85,927 10.84 % $ 47,551 6.00 % N/A N/A Bank 92,958 11.75 47,484 6.00 $ 63,312 8.00 % Common equity tier 1 capital (to risk-weighted assets): Consolidated $ 85,927 10.84 % $ 35,663 4.50 % N/A N/A Bank 92,958 11.75 35,613 4.50 $ 51,441 6.50 % Tier 1 capital (to average adjusted total assets): Consolidated $ 85,927 8.39 % $ 40,982 4.00 % N/A N/A Bank 92,958 9.10 40,840 4.00 $ 51,050 5.00 % |
Recent Accounting Pronouncement
Recent Accounting Pronouncements | 6 Months Ended |
Mar. 31, 2019 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
Recent Accounting Pronouncements | 13. Recent Accounting Pronouncements The following are summaries of recently issued or adopted accounting pronouncements that impact the accounting and reporting practices of the Company: In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) . The guidance supersedes existing guidance on accounting for leases with the main difference being that operating leases are to be recorded in the statement of financial position as right-of-use assets and lease liabilities, initially measured at the present value of the lease payments. For operating leases with a term of 12 months or less, a lessee is permitted to make an accounting policy election not to recognize lease assets and liabilities. For public business entities, the guidance is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early application of the guidance is permitted. In transition, entities are required to recognize and measure leases at the beginning of the earliest period presented using a modified retrospective approach. In July 2018, the FASB issued ASU No. 2018-11, Leases (Topic 842): Targeted Improvements , which provides an additional, optional transition method related to implementing the new leases standard. ASU 2018-11 provides that companies can initially apply the new leases standard at adoption and recognize a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption. Management is evaluating the new guidance and expects to report increased assets and liabilities as a result of recording right-of-use assets and lease liabilities. However, based on current lease obligations, the adoption is expected to increase the Company’s consolidated balance sheet by less than 5% and not have a material impact on the Company’s and the Bank’s regulatory capital ratios. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments – Credit Losses (Topic 326) . The update replaces the incurred loss methodology for recognizing credit losses under current GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. Under the new guidance, an entity will measure all expected credit losses for financial instruments held at the reporting date based on historical experience, current conditions and reasonable and supportable forecasts. The expected loss model will apply to loans and leases, unfunded lending commitments, held-to-maturity debt securities and other debt instruments measured at amortized cost. The impairment model for available-for-sale debt securities will require the recognition of credit losses through a valuation allowance when fair value is less than amortized cost, regardless of whether the impairment is considered to be other-than-temporary. For the Company, the amendments in the update are effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. Early adoption is permitted as of fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. The Company is currently assessing the impact the guidance will have upon adoption. Management expects to recognize a one-time cumulative-effect adjustment to the allowance for loan losses through retained earnings as of the beginning of the first reporting period in which the new standard is effective; however, the magnitude of the adjustment is unknown. In planning for the implementation of ASU 2016-13, management is currently evaluating software solutions, data requirements and loss methodologies. In March 2017, the FASB issued ASU No. 2017-08, Receivables – Nonrefundable Fees and Other Costs (Subtopic 310-20) – Premium Amortization on Purchased Callable Debt Securities . The update shortens the amortization period for certain callable debt securities held at a premium. Specifically, the update requires the premium to be amortized to the earliest call date. The update does not require an accounting change for securities held at a discount; the discount continues to be amortized to maturity. The amendments in the update are effective for public business entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. Early adoption is permitted, including adoption in an interim period. If an entity early adopts the amendments in an interim period, any adjustments should be reflected as of the beginning of the fiscal year that includes that interim period. An entity should apply the amendments in this update on a modified retrospective basis through a cumulative-effect adjustment directly to retained earnings as of the beginning of the period of adoption. Additionally, in the period of adoption, an entity should provide disclosures about a change in accounting principle. 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 August 2018, the FASB issued ASU No. 2018-13, Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement |
Segment Reporting
Segment Reporting | 6 Months Ended |
Mar. 31, 2019 | |
Segment Reporting [Abstract] | |
Segment Reporting | 14. Segment Reporting The Company’s operations include three primary segments: core banking, SBA lending, and mortgage banking. The core banking segment originates residential, commercial and consumer loans and attracts deposits from its customer base. Net interest income from loans and investments that are funded by deposits and borrowings is the primary revenue for the core banking segment. The SBA lending segment originates loans guaranteed by the SBA, subsequently selling the guaranteed portion to outside investors. Net gains on sales of loans and net interest income are the primary sources of revenue for the SBA lending segment. The mortgage banking segment originates residential mortgage loans and sells them in the secondary market. Net gains on the sales of loans, income from derivative financial instruments and net interest income are the primary sources of revenue for the mortgage banking segment. The core banking segment is comprised primarily by the Bank and First Savings Investments, Inc., while the SBA lending segment’s revenues are comprised primarily of net interest income and gains on the sales of SBA loans generated by Q2. The mortgage banking segment operates as a separate division of the Bank and began operations in April 2018. The following segment financial information has been derived from the internal financial statements of the Company which are used by management to monitor and manage financial performance. The accounting policies of the three segments are the same as those of the Company. The amounts reflected in the “Other” column in the below tables represent combined balances of the Company and the Captive, and are the primary differences between the sum of the segment amounts and consolidated totals, along with amounts to eliminate transactions between segments. Core Banking SBA Lending Mortgage Banking Other Consolidated Totals (In thousands) Three Months Ended March 31, 2019: Net interest income $ 9,043 $ 934 $ 187 $ (309 ) $ 9,861 Net gains on sales of loans, SBA - 521 - - 521 Mortgage banking income 3 - 5,071 - 5,074 Noncash items: Provision for loan losses (492 ) 832 - - 340 Depreciation and amortization 323 12 23 18 376 Income tax expense (benefit) 694 (70 ) 176 (334 ) 466 Segment profit (loss) 3,185 (477 ) 528 28 3,264 Segment assets at March 31, 2019 1,093,766 80,521 27,346 (71,911 ) 1,129,722 Core Banking SBA Lending Mortgage Banking Other Consolidated Totals (In thousands) Six Months Ended March 31, 2019: Net interest income $ 17,863 $ 1,842 $ 341 $ (609 ) $ 19,437 Net gains on sales of loans, SBA - 1,485 - - 1,485 Mortgage banking income 30 - 8,333 - 8,363 Noncash items: Provision for loan losses (508 ) 1,163 - - 655 Depreciation and amortization 759 24 43 34 860 Income tax expense (benefit) 1,319 (25 ) 163 (469 ) 988 Segment profit 6,165 (170 ) 491 (118 ) 6,368 Segment assets at March 31, 2019 1,093,766 80,521 27,346 (71,911 ) 1,129,722 Core Banking SBA Lending Mortgage Banking Other Consolidated Totals (In thousands) Three Months Ended March 31, 2018: Net interest income $ 7,975 $ 741 $ - $ 7 $ 8,723 Net gains on sales of loans, SBA - 1,488 - - 1,488 Mortgage banking income 53 - - - 53 Noncash items: Provision for loan losses 256 115 - 371 Depreciation and amortization 321 13 - - 334 Income tax expense (benefit) 323 171 - (156 ) 338 Segment profit (loss) 1,230 1,004 - (12 ) 2,222 Segment assets at March 31, 2018 1,001,206 58,690 - (51,342 ) 1,008,554 Core Banking SBA Lending Mortgage Banking Other Consolidated Totals (In thousands) Six Months Ended March 31, 2018: Net interest income $ 15,494 $ 1,268 $ - $ 14 $ 16,776 Net gains on sales of loans, SBA - 3,027 - - 3,027 Mortgage banking income 168 - - - 168 Noncash items: Provision for loan losses (138 ) 971 - - 833 Depreciation and amortization 608 26 - - 634 Income tax expense (benefit) 978 203 - (221 ) 960 Segment profit 4,417 1,190 - 108 5,715 Segment assets at March 31, 2018 1,001,206 58,690 (51,342 ) 1,008,554 |
Revenue from Contracts with Cus
Revenue from Contracts with Customers | 6 Months Ended |
Mar. 31, 2019 | |
Revenue from Contract with Customer [Abstract] | |
Revenue from Contract with Customer | 15. Revenue from Contracts with Customers As of October 1, 2018, the Company adopted ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606), using the modified retrospective approach. The adoption of the ASU had no material impact on the measurement or recognition of revenue; however, additional disclosures have been added in accordance with the ASU. All of the Company’s revenue from contracts with customers within the scope of FASB ASC 606 is recognized within noninterest income. The following table presents the Company’s sources of noninterest income for the three- and six-month periods ended March 31, 2019 and 2018: Three Months Ended Six Months Ended March 31, March 31, 2019 2018 2019 2018 (In thousands) Service charges on deposit accounts $ 449 $ 399 $ 960 $ 776 ATM and interchange fees 446 299 899 662 Investment advisory income 77 98 134 226 Other 43 30 80 66 Revenue from contracts with customers 1,015 826 2,073 1,730 Gain (loss) on sale of securities 1 (59 ) 1 91 Gain on sale of SBA loans 521 1,488 1,485 3,027 Mortgage banking income 5,074 53 8,363 168 Increase in cash value of life insurance 147 106 258 213 Real estate lease income 157 1 315 1 Other 174 152 375 243 Other noninterest income 6,074 1,741 10,797 3,743 Total noninterest income $ 7,089 $ 2,567 $ 12,870 $ 5,473 A description of the Company’s revenue streams accounted for under FASB ASC 606 follows: Service Charges on Deposit Accounts : The Company earns fees from its deposit customers for transaction-based, account maintenance, and overdraft services. Transaction-based fees, which include services such as wire fees, stop payment charges, statement rendering, and ACH fees, are recognized at the time the transaction is executed as that is the point in time the Company fulfills the customer's request. Account maintenance fees, which relate primarily to monthly maintenance, are earned over the course of a month, representing the period over which the Company satisfies the performance obligation. Overdraft fees are recognized at the point in time that the overdraft occurs. ATM and Interchange Fees Investment Advisory Income Other Income |
Acquisition of Dearmin Bancor_2
Acquisition of Dearmin Bancorp and The First National Bank of Odon (Tables) | 6 Months Ended |
Mar. 31, 2019 | |
Business Combinations [Abstract] | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | Following is a condensed balance sheet providing the estimated fair values of the assets acquired and the liabilities assumed as of the date of acquisition: (In thousands) Cash and due from banks $ 1,310 Interest-bearing deposits with banks 15,957 Interest-bearing time deposits with banks 3,817 Investment securities 39,978 Loans, net 34,467 Premises and equipment 1,125 Goodwill arising in the acquisition 1,912 Core deposit intangible 1,487 Other assets 2,890 Total assets acquired 102,943 Deposit accounts 91,765 Net deferred tax liabilities 205 Other liabilities 373 Total liabilities assumed 92,343 Total consideration $ 10,600 |
Investment Securities (Tables)
Investment Securities (Tables) | 6 Months Ended |
Mar. 31, 2019 | |
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: Amortized Cost Gross Unrealized Gain Gross Unrealized Losses Fair Value (In thousands) March 31, 2019: Securities available for sale: Agency mortgage-backed $ 23,529 $ 179 $ 215 $ 23,493 Agency CMO 11,709 42 121 11,630 Privately-issued CMO 1,314 122 3 1,433 Privately-issued ABS 1,128 255 - 1,383 SBA certificates 1,196 42 5 1,233 Municipal bonds 146,951 5,157 198 151,910 Total securities available for sale $ 185,827 $ 5,797 $ 542 $ 191,082 Securities held to maturity: Agency mortgage-backed $ 125 $ 7 $ - $ 132 Municipal bonds 2,340 389 - 2,729 Total securities held to maturity $ 2,465 $ 396 $ - $ 2,861 Amortized Cost Gross Unrealized Gain Gross Unrealized Losses Fair Value (In thousands) September 30, 2018: Securities available for sale: Agency mortgage-backed $ 31,686 $ 90 $ 646 $ 31,130 Agency CMO 10,754 - 313 10,441 Privately-issued CMO 1,434 148 3 1,579 Privately-issued ABS 1,538 346 - 1,884 SBA certificates 1,305 53 7 1,351 Municipal bonds 137,144 2,189 1,345 137,988 Total securities available for sale $ 183,861 $ 2,826 $ 2,314 $ 184,373 Securities held to maturity: Agency mortgage-backed $ 134 $ 8 $ - $ 142 Municipal bonds 2,473 281 - 2,754 Total securities held to maturity $ 2,607 $ 289 $ - $ 2,896 |
Amortized Cost and Fair Value of Investment Securities by Contractual Maturity | The amortized cost and fair value of investment securities as of March 31, 2019 by contractual maturity are shown below. CMO, ABS, SBA certificates, and mortgage-backed securities which do not have a single maturity date are shown separately. Available for Sale Held to Maturity Amortized Cost Fair Value Amortized Cost Fair Value (In thousands) Due within one year $ 2,957 $ 2,975 $ 245 $ 284 Due after one year through five years 20,501 21,072 990 1,152 Due after five years through ten years 30,716 31,876 840 984 Due after ten years 92,777 95,987 265 309 CMO 13,023 13,063 - - ABS 1,128 1,383 - - SBA certificates 1,196 1,233 - - Mortgage-backed securities 23,529 23,493 125 132 $ 185,827 $ 191,082 $ 2,465 $ 2,861 |
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, 2019 and September 30, 2018, aggregated by investment category and the length of time that individual securities have been in a continuous loss position, follows: Number of Investment Positions Fair Value Gross Unrealized Losses (Dollars in thousands) March 31, 2019: Securities available for sale: Continuous loss position less than twelve months: Agency mortgage-backed 2 $ 2,309 $ 1 Total less than twelve months 2 2,309 1 Continuous loss position more than twelve months: Agency mortgage-backed 19 12,542 214 Agency CMO 12 8,569 121 Privately-issued CMO 1 37 3 SBA certificates 1 519 5 Municipal bonds 23 11,312 198 Total more than twelve months 56 32,979 541 Total securities available for sale 58 $ 35,288 $ 542 September 30, 2018: Securities available for sale: Continuous loss position less than twelve months: Agency mortgage-backed 15 $ 14,814 $ 313 Agency CMO 4 2,560 54 Municipal bonds 93 44,162 944 Total less than twelve months 112 61,536 1,311 Continuous loss position more than twelve months: Agency mortgage-backed 11 9,283 333 Agency CMO 9 7,881 259 Privately-issued CMO 1 37 3 SBA certificates 1 617 7 Municipal bonds 8 6,106 401 Total more than twelve months 30 23,924 1,003 Total securities available for sale 142 $ 85,460 $ 2,314 |
Loans and Allowance for Loan _2
Loans and Allowance for Loan Losses (Tables) | 6 Months Ended |
Mar. 31, 2019 | |
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract] | |
Loans | Loans at March 31, 2019 and September 30, 2018 consisted of the following: March 31, 2019 September 30, 2018 (In thousands) Real estate mortgage: 1-4 family residential $ 198,526 $ 195,274 Commercial 383,754 343,498 Multifamily residential 34,430 28,814 Residential construction 16,209 19,527 Commercial construction 7,966 8,669 Land and land development 11,812 10,504 Commercial business 77,591 67,786 Consumer: Home equity 24,946 24,635 Auto 14,146 11,720 Other consumer 2,915 2,918 Total Loans 772,295 713,345 Deferred loan origination fees and costs, net 300 249 Allowance for loan losses (9,934 ) (9,323 ) Loans, net $ 762,661 $ 704,271 |
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, 2019: Residential Real Estate Commercial Real Estate Multifamily Construction Land & Land Development Commercial Business Consumer Total (In thousands) Recorded Investment in Loans: Principal loan balance $ 198,526 $ 383,754 $ 34,430 $ 24,175 $ 11,812 $ 77,591 $ 42,007 $ 772,295 Accrued interest receivable 610 1,510 91 111 42 443 75 2,882 Net deferred loan origination fees and costs (87 ) 156 (38 ) (6 ) (6 ) 314 (33 ) 300 Recorded investment in loans $ 199,049 $ 385,420 $ 34,483 $ 24,280 $ 11,848 $ 78,348 $ 42,049 $ 775,477 Recorded Investment in Loans as Evaluated for Impairment: Individually evaluated for impairment $ 4,474 $ 8,725 $ - $ - $ - $ 297 $ 220 $ 13,716 Collectively evaluated for impairment 194,575 376,695 34,483 24,280 11,848 78,051 41,829 761,761 Ending balance $ 199,049 $ 385,420 $ 34,483 $ 24,280 $ 11,848 $ 78,348 $ 42,049 $ 775,477 The following table provides the components of the recorded investment in loans as of September 30, 2018: Residential Real Estate Commercial Real Estate Multifamily Construction Land & Land Development Commercial Business Consumer Total (In thousands) Recorded Investment in Loans: Principal loan balance $ 195,274 $ 343,498 $ 28,814 $ 28,196 $ 10,504 $ 67,786 $ 39,273 $ 713,345 Accrued interest receivable 589 1,403 81 156 24 365 69 2,687 Net deferred loan origination fees and costs (62 ) 104 (30 ) (5 ) (4 ) 275 (29 ) 249 Recorded investment in loans $ 195,801 $ 345,005 $ 28,865 $ 28,347 $ 10,524 $ 68,426 $ 39,313 $ 716,281 Recorded Investment in Loans as Evaluated for Impairment: Individually evaluated for impairment $ 5,107 $ 7,719 $ - $ - $ 27 $ 231 $ 243 $ 13,327 Collectively evaluated for impairment 190,694 337,286 28,865 28,347 10,497 68,195 39,070 702,954 Ending balance $ 195,801 $ 345,005 $ 28,865 $ 28,347 $ 10,524 $ 68,426 $ 39,313 $ 716,281 |
Allowance for Loan Losses | An analysis of the allowance for loan losses as of March 31, 2019 is as follows: Residential Real Estate Commercial Real Estate Multifamily Construction Land & Land Development Commercial Business Consumer Total (In thousands) Ending Allowance Balance Attributable to Loans: Individually evaluated for impairment $ - $ 963 $ - $ - $ - $ 70 $ 11 $ 1,044 Collectively evaluated for impairment 220 5,733 232 515 237 1,465 488 8,890 Ending balance $ 220 $ 6,696 $ 232 $ 515 $ 237 $ 1,535 $ 499 $ 9,934 An analysis of the allowance for loan losses as of September 30, 2018 is as follows: Residential Real Estate Commercial Real Estate Multifamily Construction Land & Land Development Commercial Business Consumer Total (In thousands) Ending Allowance Balance Attributable to Loans: Individually evaluated for impairment $ 7 $ 492 $ - $ - $ - $ - $ 12 $ 511 Collectively evaluated for impairment 267 6,333 195 580 210 1,041 186 8,812 Ending balance $ 274 $ 6,825 $ 195 $ 580 $ 210 $ 1,041 $ 198 $ 9,323 An analysis of the changes in the allowance for loan losses for the three months ended March 31, 2019 is as follows: Residential Real Estate Commercial Real Estate Multifamily Construction Land & Land Development Commercial Business Consumer Total (In thousands) Changes in Allowance for Loan Losses: Beginning balance $ 249 $ 6,716 $ 158 $ 693 $ 219 $ 1,288 $ 297 $ 9,620 Provisions (28 ) (20 ) 74 (178 ) 18 246 228 340 Charge-offs (9 ) - - - - - (39 ) (48 ) Recoveries 8 - - - - 1 13 22 Ending balance $ 220 $ 6,696 $ 232 $ 515 $ 237 $ 1,535 $ 499 $ 9,934 An analysis of the changes in the allowance for loan losses for the six months ended March 31, 2019 is as follows: Residential Real Estate Commercial Real Estate Multifamily Construction Land & Land Development Commercial Business Consumer Total (In thousands) Changes in Allowance for Loan Losses: Beginning balance $ 274 $ 6,825 $ 195 $ 580 $ 210 $ 1,041 $ 198 $ 9,323 Provisions (58 ) (129 ) 37 (65 ) 27 493 350 655 Charge-offs (10 ) - - - - - (81 ) (91 ) Recoveries 14 - - - - 1 32 47 Ending balance $ 220 $ 6,696 $ 232 $ 515 $ 237 $ 1,535 $ 499 $ 9,934 An analysis of the changes in the allowance for loan losses for the three months ended March 31, 2018 is as follows: Residential Real Estate Commercial Real Estate Multifamily Construction Land & Land Development Commercial Business Consumer Total (In thousands) Changes in Allowance for Loan Losses: Beginning balance $ 233 $ 6,106 $ 102 $ 903 $ 219 $ 816 $ 132 $ 8,511 Provisions 17 76 44 82 11 110 31 371 Charge-offs (11 ) - - - - - (32 ) (43 ) Recoveries 9 - - - - 1 15 25 Ending balance $ 248 $ 6,182 $ 146 $ 985 $ 230 $ 927 $ 146 $ 8,864 An analysis of the changes in the allowance for loan losses for the six months ended March 31, 2018 is as follows: Residential Real Estate Commercial Real Estate Multifamily Construction Land & Land Development Commercial Business Consumer Total (In thousands) Changes in Allowance for Loan Losses: Beginning balance $ 252 $ 5,739 $ 106 $ 810 $ 223 $ 839 $ 123 $ 8,092 Provisions (1 ) 443 40 175 7 87 82 833 Charge-offs (24 ) - - - - - (84 ) (108 ) Recoveries 21 - - - - 1 25 47 Ending balance $ 248 $ 6,182 $ 146 $ 985 $ 230 $ 927 $ 146 $ 8,864 |
Impaired Loans Individually Evaluated for Impairment | The following table presents impaired loans individually evaluated for impairment as of March 31, 2019 and for the three and six months ended March 31, 2019 and 2018. At March 31, 2019 Three Months Ended March 31, Six Months Ended March 31, 2019 2019 2018 2018 2019 2019 2018 2018 Recorded Investment Unpaid Principal Balance Related Allowance Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized (In thousands) Loans with no related allowance recorded: Residential real estate $ 4,474 $ 4,965 $ - $ 5,132 $ 29 $ 5,247 $ 35 $ 5,203 $ 63 $ 5,136 $ 71 Commercial real estate 6,261 6,445 - 6,616 80 6,941 80 6,675 162 6,610 144 Multifamily - - - - - - - - - - - Construction - - - - - - - - - - - Land and land development - - - - - 29 - 12 - 29 - Commercial business 200 209 - 277 2 361 4 283 4 291 6 Consumer 111 115 - 118 1 121 1 119 2 110 2 $ 11,046 $ 11,734 $ - $ 12,143 $ 112 $ 12,699 $ 120 $ 12,292 $ 231 $ 12,176 $ 223 Loans with an allowance recorded: Residential real estate $ - $ - $ - $ 91 $ - $ 255 $ - $ 172 $ - $ 272 $ - Commercial real estate 2,464 2,538 963 2,104 - - - 1,722 - - - Multifamily - - - - - - - - - - - Construction - - - - - - - - - - - Land and land development - - - - - - - - - - - Commercial business 97 80 70 20 - - - 11 - - - Consumer 109 109 11 153 - 129 - 164 - 124 - $ 2,670 $ 2,727 $ 1,044 $ 2,368 $ - $ 384 $ - $ 2,069 $ - $ 396 $ - Total: Residential real estate $ 4,474 $ 4,965 $ - $ 5,223 $ 29 $ 5,502 $ 35 $ 5,375 $ 63 $ 5,408 $ 71 Commercial real estate 8,725 8,983 963 8,720 80 6,941 80 8,397 162 6,610 144 Multifamily - - - - - - - - - - - Construction - - - - - - - - - - - Land and land development - - - - - 29 - 12 - 29 - Commercial business 297 289 70 297 2 361 4 294 4 291 6 Consumer 220 224 11 271 1 250 1 283 2 234 2 $ 13,716 $ 14,461 $ 1,044 $ 14,511 $ 112 $ 13,083 $ 120 $ 14,361 $ 231 $ 12,572 $ 223 The Company did not recognize any interest income using the cash receipts method during the three- and six-month periods ended March 31, 2019 and 2018. The following table presents impaired loans individually evaluated for impairment as of September 30, 2018. Recorded Investment Unpaid Principal Balance Related Allowance (In thousands) Loans with no related allowance recorded: Residential real estate $ 4,833 $ 5,285 $ - Commercial real estate 6,568 6,715 - Multifamily - - - Construction - - - Land and land development 27 28 - Commercial business 231 241 - Consumer 122 123 - $ 11,781 $ 12,392 $ - Loans with an allowance recorded: Residential real estate $ 274 $ 282 $ 7 Commercial real estate 1,151 1,293 492 Multifamily - - - Construction - - - Land and land development - - - Commercial business - - - Consumer 121 128 12 $ 1,546 $ 1,703 $ 511 Total: Residential real estate $ 5,107 $ 5,567 $ 7 Commercial real estate 7,719 8,008 492 Multifamily - - - Construction - - - Land and land development 27 28 - Commercial business 231 241 - Consumer 243 251 12 $ 13,327 $ 14,095 $ 511 |
Recorded Investment in Nonperforming Loans by Class of Loans | Nonperforming loans consist 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, 2019: Nonaccrual Loans Loans 90+ Days Past Due Still Accruing Total Nonperforming Loans (In thousands) Residential real estate $ 2,446 $ 141 $ 2,587 Commercial real estate 2,529 - 2,529 Multifamily - - - Construction - - - Land and land development - - - Commercial business 97 - 97 Consumer 143 15 158 Total $ 5,215 $ 156 $ 5,371 The following table presents the recorded investment in nonperforming loans at September 30, 2018: Nonaccrual Loans Loans 90+ Days Past Due Still Accruing Total Nonperforming Loans (In thousands) Residential real estate $ 2,711 $ 91 $ 2,802 Commercial real estate 1,284 - 1,284 Multifamily - - - Construction - - - Land and land development 27 - 27 Commercial business - - - Consumer 160 - 160 Total $ 4,182 $ 91 $ 4,273 |
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, 2019: 30-59 Days Past Due 60-89 Days Past Due 90 + Days Past Due Total Past Due Current Total Loans (In thousands) Residential real estate $ 2,423 $ 71 $ 782 $ 3,276 $ 195,773 $ 199,049 Commercial real estate 843 29 2,057 2,929 382,491 385,420 Multifamily - - - - 34,483 34,483 Construction - - - - 24,280 24,280 Land and land development 39 48 - 87 11,761 11,848 Commercial business 53 - 96 149 78,199 78,348 Consumer 78 1 15 94 41,955 42,049 Total $ 3,436 $ 149 $ 2,950 $ 6,535 $ 768,942 $ 775,477 The following table presents the aging of the recorded investment in past due loans at September 30, 2018: 30-59 Days Past Due 60-89 Days Past Due 90 + Days Past Due Total Past Due Current Total Loans (In thousands) Residential real estate $ 2,088 $ 649 $ 1,202 $ 3,939 $ 191,862 $ 195,801 Commercial real estate 696 - 210 906 344,099 345,005 Multifamily - - - - 28,865 28,865 Construction - - - - 28,347 28,347 Land and land development - 27 - 27 10,497 10,524 Commercial business 7 - - 7 68,419 68,426 Consumer 43 37 32 112 39,201 39,313 Total $ 2,834 $ 713 $ 1,444 $ 4,991 $ 711,290 $ 716,281 |
Recorded Investment in Loans by Risk Category | As of March 31, 2019, and based on the most recent analysis performed, the recorded investment in loans by risk category was as follows: Residential Real Estate Commercial Real Estate Multifamily Construction Land and Land Development Commercial Business Consumer Total (In thousands) Pass $ 194,698 $ 375,796 $ 33,998 $ 24,280 $ 11,848 $ 75,176 $ 41,979 $ 757,775 Special Mention - 1,063 - - - 400 - 1,463 Substandard 4,285 8,561 485 - - 2,772 67 16,170 Doubtful 66 - - - - - 3 69 Loss - - - - - - - - Total $ 199,049 $ 385,420 $ 34,483 $ 24,280 $ 11,848 $ 78,348 $ 42,049 $ 775,477 As of September 30, 2018, the recorded investment in loans by risk category was as follows: Residential Real Estate Commercial Real Estate Multifamily Construction Land and Land Development Commercial Business Consumer Total (In thousands) Pass $ 190,647 $ 338,256 $ 28,365 $ 28,347 $ 10,207 $ 66,162 $ 39,246 $ 701,230 Special Mention 19 - - - 290 - - 309 Substandard 5,061 6,749 500 - 27 2,264 67 14,668 Doubtful 74 - - - - - - 74 Loss - - - - - - - - Total $ 195,801 $ 345,005 $ 28,865 $ 28,347 $ 10,524 $ 68,426 $ 39,313 $ 716,281 |
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, 2019 and September 30, 2018. There was no specific reserve included in the allowance for loan losses related to TDRs at March 31, 2019. There was $5,000 of specific reserve included in the allowance for loan losses related to TDRs at September 30, 2018. Accruing Nonaccrual Total (In thousands) March 31, 2019: Residential real estate $ 2,028 $ 293 $ 2,321 Commercial real estate 6,196 65 6,261 Commercial business 200 - 200 Consumer 77 - 77 Total $ 8,501 $ 358 $ 8,859 September 30, 2018: Residential real estate $ 2,396 $ 21 $ 2,417 Commercial real estate 6,435 65 6,500 Commercial business 231 - 231 Consumer 83 - 83 Total $ 9,145 $ 86 $ 9,231 |
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, 2018: Number of Loans Pre- Modification Principal Balance Post- Modification Principal Balance (Dollars in thousands) Three Months Ended March 31, 2018: Residential real estate 1 $ 140 $ 120 Total 1 $ 140 $ 120 Six Months Ended March 31, 2018: Residential real estate 1 $ 140 $ 120 Commercial real estate 1 1,674 1,674 Commercial business 1 170 170 Consumer 1 3 3 Total 4 $ 1,987 $ 1,967 |
Schedule of Servicing Assets at Fair Value | An analysis of SBA loan servicing rights for the three- and six-month periods ended March 31, 2019 and 2018 is as follows: Three Months Ended Six Months Ended March 31, March 31, (In thousands) 2019 2018 2019 2018 (In thousands) Balance, beginning of period $ 2,554 $ 1,746 $ 2,405 $ 1,389 Servicing rights resulting from transfers of loans 192 438 443 867 Amortization (151 ) (68 ) (253 ) (140 ) Change in valuation allowance - - - - Balance, end of period $ 2,595 $ 2,116 $ 2,595 $ 2,116 |
Deposits (Tables)
Deposits (Tables) | 6 Months Ended |
Mar. 31, 2019 | |
Debt Disclosure [Abstract] | |
Schedule of Deposits | Deposits at March 31, 2019 and September 30, 2018 consisted of the following: March 31, 2019 September 30, 2018 (In thousands) Noninterest-bearing demand deposits $ 162,901 $ 167,705 NOW accounts 170,454 173,543 Money market accounts 104,691 107,124 Savings accounts 121,978 120,995 Retail time deposits 136,640 123,007 Brokered time deposits 128,106 118,738 Total $ 824,770 $ 811,112 |
Supplemental Disclosure for E_2
Supplemental Disclosure for Earnings Per Share (Tables) | 6 Months Ended |
Mar. 31, 2019 | |
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, 2019 and 2018. Three Months Ended Six Months Ended March 31, March 31, 2019 2018 2019 2018 (Dollars in thousands, except per share data) Basic: Earnings: Net income attributable to First Savings Financial Group, Inc. $ 3,533 $ 1,646 $ 6,464 $ 5,052 Shares: Weighted average common shares outstanding, basic 2,307,155 2,251,425 2,295,788 2,239,823 Net income per common share, basic $ 1.53 $ 0.73 $ 2.82 $ 2.26 Diluted: Earnings: Net income attributable to First Savings Financial Group, Inc. $ 3,533 $ 1,646 $ 6,464 $ 5,052 Shares: Weighted average common shares outstanding, basic 2,307,155 2,251,425 2,295,788 2,239,823 Add: Dilutive effect of outstanding options 50,205 113,176 65,650 117,518 Add: Dilutive effect of restricted stock 2,644 5,659 5,086 6,265 Weighted average common shares outstanding, as adjusted 2,360,004 2,370,260 2,366,524 2,363,606 Net income per common share, diluted $ 1.50 $ 0.69 $ 2.73 $ 2.14 |
Supplemental Disclosures of C_2
Supplemental Disclosures of Cash Flow Information (Tables) | 6 Months Ended |
Mar. 31, 2019 | |
Supplemental Cash Flow Elements [Abstract] | |
Supplemental Disclosures of Cash Flow Information | Six Months Ended March 31, 2019 2018 ( In thousands ) Cash payments for: Interest $ 4,095 $ 2,766 Income taxes (net of refunds received) 337 1,214 Noncash investing activities: Transfers from loans held for sale to loans - 560 Transfers from loans to foreclosed real estate 224 - Proceeds from sales of foreclosed real estate financed through loans 47 427 Noncash exercise of stock options 542 387 Transfers from premises and equipment to other real estate owned 1,838 - |
Fair Value Measurements and D_2
Fair Value Measurements and Disclosures about Fair Value of Financial Instruments (Tables) | 6 Months Ended |
Mar. 31, 2019 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Financial Assets Measured at Fair Value on Recurring and Nonrecurring Basis | The tables below present the balances of financial assets and liabilities measured at fair value on a recurring and nonrecurring basis as of March 31, 2019 and September 30, 2018. The Company had no liabilities measured at fair value as of September 30, 2018. Carrying Value Level 1 Level 2 Level 3 Total (In thousands) March 31, 2019: Assets Measured - Recurring Basis: Securities available for sale: Agency mortgage-backed $ - $ 23,493 $ - $ 23,493 Agency CMO - 11,630 - 11,630 Privately-issued CMO - 1,433 - 1,433 Privately-issued ABS - 1,383 - 1,383 SBA certificates - 1,233 - 1,233 Municipal - 151,910 - 151,910 Total securities available for sale $ - $ 191,082 $ - $ 191,082 Residential mortgage loans held for sale – fair value option elected $ - $ 25,017 $ - $ 25,017 Derivative assets (included in other assets) $ - $ - $ 1,705 $ 1,705 Liabilities Measured – Recurring Basis: Derivative liabilities (included in other liabilities) $ - $ 384 $ - $ 384 Assets Measured - Nonrecurring Basis: Impaired loans: Residential real estate $ - $ - $ 4,474 $ 4,474 Commercial real estate - - 7,762 7,762 Commercial business - - 227 227 Consumer - - 209 209 Total impaired loans $ - $ - $ 12,672 $ 12,672 SBA loans held for sale $ - $ - $ 23,786 $ 23,786 Loan servicing rights $ - $ - $ 2,595 $ 2,595 Other real estate owned, held for sale: Residential real estate $ - $ - $ 79 $ 79 Former bank premises - - 1,838 1,838 Total other real estate owned $ - $ - $ 1,917 $ 1,917 Carrying Value Level 1 Level 2 Level 3 Total (In thousands) September 30, 2018: Assets Measured - Recurring Basis: Securities available for sale: Agency mortgage-backed $ - $ 31,130 $ - $ 31,130 Agency CMO - 10,441 - 10,441 Privately-issued CMO - 1,579 - 1,579 Privately-issued ABS - 1,884 - 1,884 SBA certificates - 1,351 - 1,351 Municipal - 137,988 - 137,988 Total securities available for sale $ - $ 184,373 $ - $ 184,373 Residential mortgage loans held for sale – fair value option elected $ - $ 9,952 $ - $ 9,952 Derivative assets (included in other assets) $ - $ 41 $ 380 $ 421 Assets Measured - Nonrecurring Basis: Impaired loans: Residential real estate $ - $ - $ 5,100 $ 5,100 Commercial real estate - - 7,227 7,227 Land and land development - - 27 27 Commercial business - - 231 231 Consumer - - 231 231 Total impaired loans $ - $ - $ 12,816 $ 12,816 Residential mortgage loans held for sale – fair value option not elected $ - $ 514 $ - $ 514 SBA loans held for sale $ - $ 21,659 $ - $ 21,659 Loan servicing rights $ - $ - $ 2,405 $ 2,405 Other real estate owned, held for sale: Residential real estate $ - $ - $ 103 $ 103 Total other real estate owned $ - $ - $ 103 $ 103 |
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation | The table below presents a reconciliation of derivative assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the three- and six-months ended March 31, 2019 and 2018: Three Months Ended Six Months Ended March 31, March 31, (In thousands) 2019 2018 2019 2018 Beginning balance $ 658 $ - $ 380 $ - Unrealized gains recognized in earnings 1,047 - 1,325 - Ending balance $ 1,705 $ - $ 1,705 $ - |
Fair Value Measurement Inputs and Valuation Techniques | The table below presents information about significant unobservable inputs (Level 3) used in the valuation of assets measured at fair value on a recurring basis as of March 31, 2019 and September 30, 2018. Financial Instrument Significant Unobservable Inputs Range of Inputs March 31, 2019 Range of Inputs September 30, 2018 Interest rate lock commitments Pull-through rate 69 97 72 95 Direct costs to close 1 1 3 |
Fair Value, by Balance Sheet Grouping | The table below presents the difference between the aggregate fair value and the aggregate remaining principal balance for residential mortgage loans held for sale for which the fair value option had been elected as of March 31, 2019 and September 30, 2018. (In thousands) Aggregate Fair Value March 31, 2019 Aggregate Principal Balance March 31, 2019 Difference Residential mortgage loans held for sale $ 25,017 $ 23,959 $ 1,058 (In thousands) Aggregate Fair Value September 30, 2018 Aggregate Principal Balance September 30, 2018 Difference Residential mortgage loans held for sale $ 9,952 $ 9,695 $ 257 |
Fair Value, Measured on Recurring Basis, Gain (Loss) Included in Earnings | The table below presents gains and losses and interest included in earnings related to financial assets measured at fair value under the fair value option for the three- and six-month periods ended March 31, 2019 and 2018: Three Months Ended Six Months Ended March 31, March 31, (In thousands) 2019 2018 2019 2018 Gains – included in mortgage banking income $ 437 $ - $ 1,026 $ - Interest income 187 - 341 - $ 624 $ - $ 1,367 $ - |
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments | The fair value of loans at September 30, 2018 was measured using an entry price notion. Carrying Fair Value Measurements Using: Amount Level 1 Level 2 Level 3 (In thousands) March 31, 2019: Financial assets: Cash and due from banks $ 11,617 $ 11,617 $ - $ - Interest-bearing deposits with banks 28,825 28,825 - - Interest-bearing time deposits 2,963 - 2,958 - Securities available for sale 191,082 - 191,082 - Securities held to maturity 2,465 - 2,861 - Loans, net 762,661 - - 727,442 Residential mortgage loans held for sale 25,017 - 25,017 - SBA loans held for sale 23,786 - - 26,407 FRB and FHLB stock 10,196 N/A N/A N/A Accrued interest receivable 4,602 - 4,602 - Loan servicing rights (included in other assets) 2,595 - - 2,595 Derivative assets (included in other assets) 1,705 - - 1,705 Financial liabilities: Deposits 824,770 - - 824,193 Short-term repurchase agreements 1,353 - 1,353 - Borrowings from FHLB 160,938 - 155,264 - Subordinated note 19,695 - 19,695 - Accrued interest payable 1,325 - 1,325 - Advance payments by borrowers for taxes and insurance 1,274 - 1,274 - Derivative liabilities (included in other liabilities) 384 - 384 - Carrying Fair Value Measurements Using: Amount Level 1 Level 2 Level 3 (In thousands) September 30, 2018: Financial assets: Cash and due from banks $ 14,191 $ 14,191 $ - $ - Interest-bearing deposits with banks 28,083 28,083 - - Interest-bearing time deposits 2,501 - 2,494 - Securities available for sale 184,373 - 184,373 - Securities held to maturity 2,607 - 2,896 - Residential mortgage loans held for sale 10,466 - 10,476 - SBA loans held for sale 21,659 - 23,488 - Loans, net 704,271 - - 673,652 FRB and FHLB stock 9,621 N/A N/A N/A Accrued interest receivable 4,287 - 4,287 - Loan servicing rights (included in other assets) 2,405 - - 2,405 Derivative assets (included in other assets) 421 - 41 380 Financial liabilities: Deposits 811,112 - - 809,305 Short-term repurchase agreements 1,352 - 1,352 - Borrowings from FHLB 90,000 - 84,175 - Subordinated note 19,661 - 19,661 - Accrued interest payable 743 - 743 - Advance payments by borrowers for taxes and insurance 1,218 - 1,218 - |
Stock Based Compensation Plans
Stock Based Compensation Plans (Tables) | 6 Months Ended |
Mar. 31, 2019 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Share-based Payment Award, Stock Options, Valuation Assumptions | The fair value of options granted during the six-month period ended March 31, 2019 was determined using the following assumptions: Expected dividend yield 1.75 % Risk-free interest rate 2.13 % Expected volatility 14.6 % Expected life of options 7.5 years Weighted average fair value at grant date $ 6.13 |
Stock Option Activity | A summary of stock option activity as of March 31, 2019, and changes during the six-month period then ended is presented below. Number of Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term (Years) Aggregate Intrinsic Value (Dollars in thousands, except per share data) Outstanding at beginning of period 150,033 $ 24.88 Granted 2,400 59.23 Exercised (61,484 ) 14.30 Forfeited or expired (750 ) 40.09 Outstanding at end of period 90,199 $ 32.88 5.4 $ 2,001 Vested and expected to vest 90,199 $ 32.88 5.4 $ 2,001 Exercisable at end of period 50,872 $ 22.90 3.4 $ 1,586 |
Nonvested Restricted Shares Activity | A summary of the Company’s nonvested restricted shares activity as of March 31, 2019 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, 2018 14,812 $ 41.20 Granted 2,500 $ 59.23 Vested (3,653 ) $ 40.99 Forfeited (201 ) $ 40.09 Nonvested at March 31, 2019 13,458 $ 44.62 |
Derivative Financial Instrume_2
Derivative Financial Instruments (Tables) | 6 Months Ended |
Mar. 31, 2019 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Schedule of Derivative Instruments | The tables below provide information on the Company’s derivative financial instruments as of March 31, 2019 and September 30, 2018. (In thousands) Notional Amount March 31, 2019 Asset Derivatives March 31, 2019 Liability Derivatives March 31, 2019 Interest rate lock commitments $ 89,782 $ 1,705 $ - Forward mortgage loan sale contracts 63,500 - 384 $ 153,282 $ 1,705 $ 384 (In thousands) Notional Amount September 30, 2018 Asset Derivatives September 30, 2018 Liability Derivatives September 30, 2018 Interest rate lock commitments $ 16,634 $ 380 $ - Forward mortgage loan sale contracts 13,750 41 - $ 30,384 $ 421 $ - |
Derivative Instruments, Gain (Loss) | Income (loss) related to derivative financial instruments included in mortgage banking income in the accompanying consolidated statements of income for the three- and six-month periods ended March 31, 2019 and 2018 is as follows: Three Months Ended Six Months Ended March 31, March 31, (In thousands) 2019 2018 2019 2018 Interest rate lock commitments $ 1,047 $ - $ 1,325 $ - Forward mortgage loan sale contracts (624 ) - (775 ) - $ 423 $ - $ 550 $ - |
Regulatory Capital (Tables)
Regulatory Capital (Tables) | 6 Months Ended |
Mar. 31, 2019 | |
Banking and Thrift [Abstract] | |
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | The Company’s and Bank’s actual capital amounts and ratios are also presented in the table. No amount was deducted from capital for interest-rate risk at either period. Minimum To Be Well Minimum Capitalized Under For Capital Prompt Corrective Actual Adequacy Purposes: Action Provisions: Amount Ratio Amount Ratio Amount Ratio (Dollars in thousands) As of March 31, 2019: Total capital (to risk-weighted assets): Consolidated $ 121,718 14.12 % $ 68,978 8.00 % N/A N/A Bank 111,468 12.95 68,854 8.00 $ 86,068 10.00 % Tier 1 capital (to risk-weighted assets): Consolidated $ 92,089 10.68 % $ 51,733 6.00 % N/A N/A Bank 101,534 11.80 51,641 6.00 $ 68,854 8.00 % Common equity tier 1 capital (to risk-weighted assets): Consolidated $ 92,089 10.68 % $ 38,800 4.50 % N/A N/A Bank 101,534 11.80 38,730 4.50 $ 55,944 6.50 % Tier 1 capital (to average adjusted total assets): Consolidated $ 92,089 8.42 % $ 43,751 4.00 % N/A N/A Bank 101,534 9.31 43,623 4.00 $ 54,529 5.00 % As of September 30, 2018: Total capital (to risk-weighted assets): Consolidated $ 114,911 14.50 % $ 63,402 8.00 % N/A N/A Bank 102,281 12.92 63,312 8.00 $ 79,140 10.00 % Tier 1 capital (to risk-weighted assets): Consolidated $ 85,927 10.84 % $ 47,551 6.00 % N/A N/A Bank 92,958 11.75 47,484 6.00 $ 63,312 8.00 % Common equity tier 1 capital (to risk-weighted assets): Consolidated $ 85,927 10.84 % $ 35,663 4.50 % N/A N/A Bank 92,958 11.75 35,613 4.50 $ 51,441 6.50 % Tier 1 capital (to average adjusted total assets): Consolidated $ 85,927 8.39 % $ 40,982 4.00 % N/A N/A Bank 92,958 9.10 40,840 4.00 $ 51,050 5.00 % |
Segment Reporting (Tables)
Segment Reporting (Tables) | 6 Months Ended |
Mar. 31, 2019 | |
Segment Reporting [Abstract] | |
Schedule of Segment Reporting Information, by Segment | The following segment financial information has been derived from the internal financial statements of the Company which are used by management to monitor and manage financial performance. The accounting policies of the three segments are the same as those of the Company. The amounts reflected in the “Other” column in the below tables represent combined balances of the Company and the Captive, and are the primary differences between the sum of the segment amounts and consolidated totals, along with amounts to eliminate transactions between segments. Core Banking SBA Lending Mortgage Banking Other Consolidated Totals (In thousands) Three Months Ended March 31, 2019: Net interest income $ 9,043 $ 934 $ 187 $ (309 ) $ 9,861 Net gains on sales of loans, SBA - 521 - - 521 Mortgage banking income 3 - 5,071 - 5,074 Noncash items: Provision for loan losses (492 ) 832 - - 340 Depreciation and amortization 323 12 23 18 376 Income tax expense (benefit) 694 (70 ) 176 (334 ) 466 Segment profit (loss) 3,185 (477 ) 528 28 3,264 Segment assets at March 31, 2019 1,093,766 80,521 27,346 (71,911 ) 1,129,722 Core Banking SBA Lending Mortgage Banking Other Consolidated Totals (In thousands) Six Months Ended March 31, 2019: Net interest income $ 17,863 $ 1,842 $ 341 $ (609 ) $ 19,437 Net gains on sales of loans, SBA - 1,485 - - 1,485 Mortgage banking income 30 - 8,333 - 8,363 Noncash items: Provision for loan losses (508 ) 1,163 - - 655 Depreciation and amortization 759 24 43 34 860 Income tax expense (benefit) 1,319 (25 ) 163 (469 ) 988 Segment profit 6,165 (170 ) 491 (118 ) 6,368 Segment assets at March 31, 2019 1,093,766 80,521 27,346 (71,911 ) 1,129,722 Core Banking SBA Lending Mortgage Banking Other Consolidated Totals (In thousands) Three Months Ended March 31, 2018: Net interest income $ 7,975 $ 741 $ - $ 7 $ 8,723 Net gains on sales of loans, SBA - 1,488 - - 1,488 Mortgage banking income 53 - - - 53 Noncash items: Provision for loan losses 256 115 - 371 Depreciation and amortization 321 13 - - 334 Income tax expense (benefit) 323 171 - (156 ) 338 Segment profit (loss) 1,230 1,004 - (12 ) 2,222 Segment assets at March 31, 2018 1,001,206 58,690 - (51,342 ) 1,008,554 Core Banking SBA Lending Mortgage Banking Other Consolidated Totals (In thousands) Six Months Ended March 31, 2018: Net interest income $ 15,494 $ 1,268 $ - $ 14 $ 16,776 Net gains on sales of loans, SBA - 3,027 - - 3,027 Mortgage banking income 168 - - - 168 Noncash items: Provision for loan losses (138 ) 971 - - 833 Depreciation and amortization 608 26 - - 634 Income tax expense (benefit) 978 203 - (221 ) 960 Segment profit 4,417 1,190 - 108 5,715 Segment assets at March 31, 2018 1,001,206 58,690 (51,342 ) 1,008,554 |
Revenue from Contracts with C_2
Revenue from Contracts with Customers (Tables) | 6 Months Ended |
Mar. 31, 2019 | |
Revenue from Contract with Customer [Abstract] | |
Disaggregation of Revenue | All of the Company’s revenue from contracts with customers within the scope of FASB ASC 606 is recognized within noninterest income. The following table presents the Company’s sources of noninterest income for the three- and six-month periods ended March 31, 2019 and 2018: Three Months Ended Six Months Ended March 31, March 31, 2019 2018 2019 2018 (In thousands) Service charges on deposit accounts $ 449 $ 399 $ 960 $ 776 ATM and interchange fees 446 299 899 662 Investment advisory income 77 98 134 226 Other 43 30 80 66 Revenue from contracts with customers 1,015 826 2,073 1,730 Gain (loss) on sale of securities 1 (59 ) 1 91 Gain on sale of SBA loans 521 1,488 1,485 3,027 Mortgage banking income 5,074 53 8,363 168 Increase in cash value of life insurance 147 106 258 213 Real estate lease income 157 1 315 1 Other 174 152 375 243 Other noninterest income 6,074 1,741 10,797 3,743 Total noninterest income $ 7,089 $ 2,567 $ 12,870 $ 5,473 |
Presentation of Interim Infor_2
Presentation of Interim Information (Additional Information) (Detail) $ in Millions | 6 Months Ended |
Mar. 31, 2019USD ($) | |
Schedule of Equity Method Investments [Line Items] | |
Cumulative Allocated Net Income | $ 1.7 |
Business Capital LLC [Member] | |
Schedule of Equity Method Investments [Line Items] | |
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 49.00% |
subsidiary [Member] | |
Schedule of Equity Method Investments [Line Items] | |
Equity Method Investment, Ownership Percentage | 51.00% |
Acquisition of Dearmin Bancor_3
Acquisition of Dearmin Bancorp and The First National Bank of Odon (Estimated Fair Values Of The Assets Acquired And Liabilities Assumed) (Detail) - USD ($) $ in Thousands | Mar. 31, 2019 | Sep. 30, 2018 |
Goodwill arising in the acquisition | $ 9,848 | $ 9,848 |
Dearmin Bancorp and The First National Bank of Odon [Member] | ||
Cash and due from banks | 1,310 | |
Interest-bearing deposits with banks | 15,957 | |
Interest-bearing time deposits with banks | 3,817 | |
Investment securities | 39,978 | |
Loans, net | 34,467 | |
Premises and equipment | 1,125 | |
Goodwill arising in the acquisition | 1,912 | |
Core deposit intangible | 1,487 | |
Other assets | 2,890 | |
Total assets acquired | 102,943 | |
Deposit accounts | 91,765 | |
Net deferred tax liabilities | 205 | |
Other liabilities | 373 | |
Total liabilities assumed | 92,343 | |
Total consideration | $ 10,600 |
Acquisition of Dearmin Bancor_4
Acquisition of Dearmin Bancorp and The First National Bank of Odon (Additional Information) (Detail) - USD ($) $ / shares in Units, $ in Thousands | 6 Months Ended | 12 Months Ended |
Mar. 31, 2019 | Sep. 30, 2018 | |
Goodwill | $ 9,848 | $ 9,848 |
Business Combination, Acquisition Related Costs | $ 1,300 | |
Dearmin Bancorp and The First National Bank of Odon [Member] | ||
Payments to Acquire Businesses, Gross | 10,600 | |
Goodwill | 1,912 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | $ 1,500 | |
Finite-Lived Intangible Asset, Useful Life | 9 years 1 month 6 days | |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed, Loans | $ 34,500 | |
Gross Contractual Amounts Receivable at Date of Acquisition | $ 41,500 | |
Business Acquisition, Share Price | $ 265 |
Investment Securities (Amortize
Investment Securities (Amortized Cost And Fair Value Of Securities) (Detail) - USD ($) $ in Thousands | Mar. 31, 2019 | Sep. 30, 2018 |
Schedule of Cost method Investment [Line Items] | ||
Available-for-Sale, Amortized Cost | $ 185,827 | $ 183,861 |
Available-for-Sale, Gross Unrealized Gain | 5,797 | 2,826 |
Available-for-Sale, Gross Unrealized Losses | 542 | 2,314 |
Available-for-Sale, Fair Value | 191,082 | 184,373 |
Held-to-Maturity, Amortized Cost | 2,465 | 2,607 |
Held-to-Maturity, Gross Unrealized Gain | 396 | 289 |
Held-to-Maturity, Gross Unrealized Losses | 0 | 0 |
Held-to-Maturity, Fair Value | 2,861 | 2,896 |
Agency mortgage-backed | ||
Schedule of Cost method Investment [Line Items] | ||
Available-for-Sale, Amortized Cost | 23,529 | 31,686 |
Available-for-Sale, Gross Unrealized Gain | 179 | 90 |
Available-for-Sale, Gross Unrealized Losses | 215 | 646 |
Available-for-Sale, Fair Value | 23,493 | 31,130 |
Held-to-Maturity, Amortized Cost | 125 | 134 |
Held-to-Maturity, Gross Unrealized Gain | 7 | 8 |
Held-to-Maturity, Gross Unrealized Losses | 0 | 0 |
Held-to-Maturity, Fair Value | 132 | 142 |
Agency CMO | ||
Schedule of Cost method Investment [Line Items] | ||
Available-for-Sale, Amortized Cost | 11,709 | 10,754 |
Available-for-Sale, Gross Unrealized Gain | 42 | 0 |
Available-for-Sale, Gross Unrealized Losses | 121 | 313 |
Available-for-Sale, Fair Value | 11,630 | 10,441 |
Privately-issued CMO | ||
Schedule of Cost method Investment [Line Items] | ||
Available-for-Sale, Amortized Cost | 1,314 | 1,434 |
Available-for-Sale, Gross Unrealized Gain | 122 | 148 |
Available-for-Sale, Gross Unrealized Losses | 3 | 3 |
Available-for-Sale, Fair Value | 1,433 | 1,579 |
Privately-issued ABS | ||
Schedule of Cost method Investment [Line Items] | ||
Available-for-Sale, Amortized Cost | 1,128 | 1,538 |
Available-for-Sale, Gross Unrealized Gain | 255 | 346 |
Available-for-Sale, Gross Unrealized Losses | 0 | 0 |
Available-for-Sale, Fair Value | 1,383 | 1,884 |
SBA certificates | ||
Schedule of Cost method Investment [Line Items] | ||
Available-for-Sale, Amortized Cost | 1,196 | 1,305 |
Available-for-Sale, Gross Unrealized Gain | 42 | 53 |
Available-for-Sale, Gross Unrealized Losses | 5 | 7 |
Available-for-Sale, Fair Value | 1,233 | 1,351 |
Municipal bonds | ||
Schedule of Cost method Investment [Line Items] | ||
Available-for-Sale, Amortized Cost | 146,951 | 137,144 |
Available-for-Sale, Gross Unrealized Gain | 5,157 | 2,189 |
Available-for-Sale, Gross Unrealized Losses | 198 | 1,345 |
Available-for-Sale, Fair Value | 151,910 | 137,988 |
Held-to-Maturity, Amortized Cost | 2,340 | 2,473 |
Held-to-Maturity, Gross Unrealized Gain | 389 | 281 |
Held-to-Maturity, Gross Unrealized Losses | 0 | 0 |
Held-to-Maturity, Fair Value | $ 2,729 | $ 2,754 |
Investment Securities (Amorti_2
Investment Securities (Amortized Cost And Fair Value Of Investment Securities By Contractual Maturity) (Detail) - USD ($) $ in Thousands | Mar. 31, 2019 | Sep. 30, 2018 |
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale, Amortized Cost, Due within one year | $ 2,957 | |
Available for Sale, Amortized Cost, Due after one year through five years | 20,501 | |
Available for Sale, Amortized Cost, Due after five years through ten years | 30,716 | |
Available for Sale, Amortized Cost, Due after ten years | 92,777 | |
Available for Sale, Amortized Cost | 185,827 | $ 183,861 |
Available for Sale, Fair Value, Due within one year | 2,975 | |
Available for Sale, Fair Value, Due after one year through five years | 21,072 | |
Available for Sale, Fair Value, Due after five years through ten years | 31,876 | |
Available for Sale, Fair Value, Due after ten years | 95,987 | |
Available for sale, Fair Value | 191,082 | 184,373 |
Held to Maturity, Amortized Cost, Due within one year | 245 | |
Held to Maturity, Amortized Cost, Due after one year through five years | 990 | |
Held to Maturity, Amortized Cost, Due after five years through ten years | 840 | |
Held to Maturity, Amortized Cost, Due after ten years | 265 | |
Held to Maturity, Amortized Cost | 2,465 | 2,607 |
Held to Maturity, Fair Value, Due within one year | 284 | |
Held to Maturity, Fair Value, Due after one year through five years | 1,152 | |
Held to Maturity, Fair Value, Due after five years through ten years | 984 | |
Held to Maturity, Fair Value, Due after ten years | 309 | |
Held to Maturity, Fair Value | 2,861 | $ 2,896 |
CMO | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale, Amortized Cost | 13,023 | |
Available for sale, Fair Value | 13,063 | |
Held to Maturity, Amortized Cost | 0 | |
Held to Maturity, Fair Value | 0 | |
ABS | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale, Amortized Cost | 1,128 | |
Available for sale, Fair Value | 1,383 | |
Held to Maturity, Amortized Cost | 0 | |
Held to Maturity, Fair Value | 0 | |
SBA certificates | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale, Amortized Cost | 1,196 | |
Available for sale, Fair Value | 1,233 | |
Held to Maturity, Amortized Cost | 0 | |
Held to Maturity, Fair Value | 0 | |
Mortgage-backed securities | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale, Amortized Cost | 23,529 | |
Available for sale, Fair Value | 23,493 | |
Held to Maturity, Amortized Cost | 125 | |
Held to Maturity, Fair Value | $ 132 |
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) Number in Thousands, $ in Thousands | Mar. 31, 2019USD ($)Number | Sep. 30, 2018USD ($)Number |
Investments, Unrealized Loss Position [Line Items] | ||
Securities available for sale, Continuous loss position less than twelve months, Number of Investment Positions | Number | 2 | 112 |
Securities available for sale, Continuous loss position more than twelve months, Number of Investment Positions | Number | 56 | 30 |
Securities available for sale, Number of Investment Positions | Number | 58 | 142 |
Securities available for sale, Continuous loss position less than twelve months, Fair Value | $ 2,309 | $ 61,536 |
Securities available for sale, Continuous loss position more than twelve months, Fair Value | 32,979 | 23,924 |
Securities available for sale, Continuous loss position | 35,288 | 85,460 |
Securities available for sale, Continuous loss position less than twelve months, Gross Unrealized Losses | 1 | 1,311 |
Securities available for sale, Continuous loss position more than twelve months, Gross Unrealized Losses | 541 | 1,003 |
Securities available for sale, Continuous loss position, Gross Unrealized Losses | $ 542 | $ 2,314 |
Agency Mortgage-Backed | ||
Investments, Unrealized Loss Position [Line Items] | ||
Securities available for sale, Continuous loss position less than twelve months, Number of Investment Positions | Number | 2 | 15 |
Securities available for sale, Continuous loss position more than twelve months, Number of Investment Positions | Number | 19 | 11 |
Securities available for sale, Continuous loss position less than twelve months, Fair Value | $ 2,309 | $ 14,814 |
Securities available for sale, Continuous loss position more than twelve months, Fair Value | 12,542 | 9,283 |
Securities available for sale, Continuous loss position less than twelve months, Gross Unrealized Losses | 1 | 313 |
Securities available for sale, Continuous loss position more than twelve months, Gross Unrealized Losses | $ 214 | $ 333 |
Agency CMO | ||
Investments, Unrealized Loss Position [Line Items] | ||
Securities available for sale, Continuous loss position less than twelve months, Number of Investment Positions | Number | 12 | 9 |
Securities available for sale, Continuous loss position more than twelve months, Number of Investment Positions | Number | 4 | |
Securities available for sale, Continuous loss position less than twelve months, Fair Value | $ 8,569 | $ 7,881 |
Securities available for sale, Continuous loss position more than twelve months, Fair Value | 2,560 | |
Securities available for sale, Continuous loss position less than twelve months, Gross Unrealized Losses | 121 | $ 259 |
Securities available for sale, Continuous loss position more than twelve months, Gross Unrealized Losses | $ 54 | |
Municipal bonds | ||
Investments, Unrealized Loss Position [Line Items] | ||
Securities available for sale, Continuous loss position less than twelve months, Number of Investment Positions | Number | 23 | 8 |
Securities available for sale, Continuous loss position more than twelve months, Number of Investment Positions | Number | 93 | |
Securities available for sale, Continuous loss position less than twelve months, Fair Value | $ 11,312 | $ 6,106 |
Securities available for sale, Continuous loss position more than twelve months, Fair Value | 44,162 | |
Securities available for sale, Continuous loss position less than twelve months, Gross Unrealized Losses | 198 | $ 401 |
Securities available for sale, Continuous loss position more than twelve months, Gross Unrealized Losses | $ 944 | |
Privately-issued CMO | ||
Investments, Unrealized Loss Position [Line Items] | ||
Securities available for sale, Continuous loss position more than twelve months, Number of Investment Positions | Number | 1 | 1 |
Securities available for sale, Continuous loss position more than twelve months, Fair Value | $ 37 | $ 37 |
Securities available for sale, Continuous loss position more than twelve months, Gross Unrealized Losses | $ 3 | $ 3 |
SBA certificates | ||
Investments, Unrealized Loss Position [Line Items] | ||
Securities available for sale, Continuous loss position more than twelve months, Number of Investment Positions | Number | 1 | 1 |
Securities available for sale, Continuous loss position more than twelve months, Fair Value | $ 519 | $ 617 |
Securities available for sale, Continuous loss position more than twelve months, Gross Unrealized Losses | $ 5 | $ 7 |
Investment Securities (Addition
Investment Securities (Additional Information) (Detail) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2019 | Mar. 31, 2018 | |
Schedule of Available-for-sale Securities [Line Items] | ||||
Net gain (loss) on trading account securities | $ 0 | $ (59,000) | $ 0 | $ 91,000 |
Investments, Fair Value Disclosure | 37,000 | 37,000 | ||
Unrealized Gain (Loss) on Securities | 3,000 | |||
Trading Securities, Realized Gain (Loss) | 0 | (59,000) | 0 | 91,000 |
Available-for-sale Securities, Gross Realized Gain (Loss) | $ 1,000 | $ 0 | $ 1,000 | $ 0 |
Two Privately Issued Collateralized Mortgage Obligations [Member] | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Available for sale debt securities in loss position, depreciation percentage | 8.25% | 8.25% | ||
Debt Securities [Member] | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Available for sale debt securities in loss position, depreciation percentage | 98.49% | 98.49% | ||
Debt Securities [Member] | Downgraded Due To Potential Credit Losses [Member] | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Carrying Value Of Downgraded Due To Potential Credit Losses | $ 1,200,000 | $ 1,200,000 | ||
Debt Securities [Member] | Downgraded Privately Issued CMOs [Member] | ||||
Schedule of Available-for-sale Securities [Line Items] | ||||
Fair Market Value Of Downgraded Privately Issued Collateralized Mortgage Obligations | $ 1,400,000 | $ 1,400,000 |
Loans and Allowance for Loan _3
Loans and Allowance for Loan Losses (Loans) (Detail) - USD ($) $ in Thousands | Mar. 31, 2019 | Sep. 30, 2018 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Gross loans | $ 772,295 | $ 713,345 |
Deferred loan origination fees and costs, net | 300 | 249 |
Allowance for loan losses | (9,934) | (9,323) |
Loans, net | 762,661 | 704,271 |
Commercial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Deferred loan origination fees and costs, net | 156 | 104 |
Multifamily residential [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Deferred loan origination fees and costs, net | (38) | (30) |
Land and land development [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Deferred loan origination fees and costs, net | (6) | (4) |
Commercial business [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Deferred loan origination fees and costs, net | 314 | 275 |
Real estate mortgage [Member] | 1-4 family residential [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Gross loans | 198,526 | 195,274 |
Real estate mortgage [Member] | Commercial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Gross loans | 383,754 | 343,498 |
Real estate mortgage [Member] | Multifamily residential [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Gross loans | 34,430 | 28,814 |
Real estate mortgage [Member] | Residential construction [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Gross loans | 16,209 | 19,527 |
Real estate mortgage [Member] | Commercial construction [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Gross loans | 7,966 | 8,669 |
Real estate mortgage [Member] | Land and land development [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Gross loans | 11,812 | 10,504 |
Real estate mortgage [Member] | Commercial business [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Gross loans | 77,591 | 67,786 |
Consumer [Member] | Home equity [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Gross loans | 24,946 | 24,635 |
Consumer [Member] | Auto [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Gross loans | 14,146 | 11,720 |
Consumer [Member] | Other consumer [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Gross loans | $ 2,915 | $ 2,918 |
Loans and Allowance for Loan _4
Loans and Allowance for Loan Losses (Components Of Recorded Investment In Loans For Each Portfolio Class) (Detail) - USD ($) $ in Thousands | Mar. 31, 2019 | Sep. 30, 2018 |
Recorded Investment in Loans: | ||
Principal loan balance | $ 772,295 | $ 713,345 |
Accrued interest receivable | 2,882 | 2,687 |
Net deferred loan origination fees and costs | 300 | 249 |
Recorded investment in loans | 775,477 | 716,281 |
Recorded Investment in Loans as Evaluated for Impairment: | ||
Individually evaluated for impairment | 13,716 | 13,327 |
Collectively evaluated for impairment | 761,761 | 702,954 |
Ending balance | 775,477 | 716,281 |
Residential Real Estate [Member] | ||
Recorded Investment in Loans: | ||
Principal loan balance | 198,526 | 195,274 |
Accrued interest receivable | 610 | 589 |
Net deferred loan origination fees and costs | (87) | (62) |
Recorded investment in loans | 199,049 | 195,801 |
Recorded Investment in Loans as Evaluated for Impairment: | ||
Individually evaluated for impairment | 4,474 | 5,107 |
Collectively evaluated for impairment | 194,575 | 190,694 |
Ending balance | 199,049 | 195,801 |
Commercial Real Estate [Member] | ||
Recorded Investment in Loans: | ||
Principal loan balance | 383,754 | 343,498 |
Accrued interest receivable | 1,510 | 1,403 |
Net deferred loan origination fees and costs | 156 | 104 |
Recorded investment in loans | 385,420 | 345,005 |
Recorded Investment in Loans as Evaluated for Impairment: | ||
Individually evaluated for impairment | 8,725 | 7,719 |
Collectively evaluated for impairment | 376,695 | 337,286 |
Ending balance | 385,420 | 345,005 |
Multifamily [Member] | ||
Recorded Investment in Loans: | ||
Principal loan balance | 34,430 | 28,814 |
Accrued interest receivable | 91 | 81 |
Net deferred loan origination fees and costs | (38) | (30) |
Recorded investment in loans | 34,483 | 28,865 |
Recorded Investment in Loans as Evaluated for Impairment: | ||
Individually evaluated for impairment | 0 | 0 |
Collectively evaluated for impairment | 34,483 | 28,865 |
Ending balance | 34,483 | 28,865 |
Construction [Member] | ||
Recorded Investment in Loans: | ||
Principal loan balance | 24,175 | 28,196 |
Accrued interest receivable | 111 | 156 |
Net deferred loan origination fees and costs | (6) | (5) |
Recorded investment in loans | 24,280 | 28,347 |
Recorded Investment in Loans as Evaluated for Impairment: | ||
Individually evaluated for impairment | 0 | 0 |
Collectively evaluated for impairment | 24,280 | 28,347 |
Ending balance | 24,280 | 28,347 |
Land and Land development [Member] | ||
Recorded Investment in Loans: | ||
Principal loan balance | 11,812 | 10,504 |
Accrued interest receivable | 42 | 24 |
Net deferred loan origination fees and costs | (6) | (4) |
Recorded investment in loans | 11,848 | 10,524 |
Recorded Investment in Loans as Evaluated for Impairment: | ||
Individually evaluated for impairment | 0 | 27 |
Collectively evaluated for impairment | 11,848 | 10,497 |
Ending balance | 11,848 | 10,524 |
Commercial Business [Member] | ||
Recorded Investment in Loans: | ||
Principal loan balance | 77,591 | 67,786 |
Accrued interest receivable | 443 | 365 |
Net deferred loan origination fees and costs | 314 | 275 |
Recorded investment in loans | 78,348 | 68,426 |
Recorded Investment in Loans as Evaluated for Impairment: | ||
Individually evaluated for impairment | 297 | 231 |
Collectively evaluated for impairment | 78,051 | 68,195 |
Ending balance | 78,348 | 68,426 |
Consumer [Member] | ||
Recorded Investment in Loans: | ||
Principal loan balance | 42,007 | 39,273 |
Accrued interest receivable | 75 | 69 |
Net deferred loan origination fees and costs | (33) | (29) |
Recorded investment in loans | 42,049 | 39,313 |
Recorded Investment in Loans as Evaluated for Impairment: | ||
Individually evaluated for impairment | 220 | 243 |
Collectively evaluated for impairment | 41,829 | 39,070 |
Ending balance | $ 42,049 | $ 39,313 |
Loans and Allowance for Loan _5
Loans and Allowance for Loan Losses (Allowance For Loan Losses) (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2019 | Sep. 30, 2018 | |
Changes in Allowance for Loan Losses: | ||||||
Beginning balance | $ 9,620 | $ 8,511 | $ 9,323 | $ 8,092 | ||
Provisions | 340 | 371 | 655 | 833 | ||
Charge-offs | (48) | (43) | (91) | (108) | ||
Recoveries | 22 | 25 | 47 | 47 | ||
Ending balance | 9,934 | 8,864 | 9,934 | 8,864 | ||
Ending Allowance Balance Attributable to Loans: | ||||||
Individually evaluated for impairment | $ 1,044 | $ 511 | ||||
Collectively evaluated for impairment | 8,890 | 8,812 | ||||
Ending balance | 9,620 | 8,511 | 9,323 | 8,864 | 9,934 | 9,323 |
Residential Real Estate [Member] | ||||||
Changes in Allowance for Loan Losses: | ||||||
Beginning balance | 249 | 233 | 274 | 252 | ||
Provisions | (28) | 17 | (58) | (1) | ||
Charge-offs | (9) | (11) | (10) | (24) | ||
Recoveries | 8 | 9 | 14 | 21 | ||
Ending balance | 220 | 248 | 220 | 248 | ||
Ending Allowance Balance Attributable to Loans: | ||||||
Individually evaluated for impairment | 0 | 7 | ||||
Collectively evaluated for impairment | 220 | 267 | ||||
Ending balance | 220 | 233 | 220 | 248 | 220 | 274 |
Commercial Real Estate [Member] | ||||||
Changes in Allowance for Loan Losses: | ||||||
Beginning balance | 6,716 | 6,106 | 6,825 | 5,739 | ||
Provisions | (20) | 76 | (129) | 443 | ||
Charge-offs | 0 | 0 | 0 | 0 | ||
Recoveries | 0 | 0 | 0 | 0 | ||
Ending balance | 6,696 | 6,182 | 6,696 | 6,182 | ||
Ending Allowance Balance Attributable to Loans: | ||||||
Individually evaluated for impairment | 963 | 492 | ||||
Collectively evaluated for impairment | 5,733 | 6,333 | ||||
Ending balance | 6,696 | 6,106 | 6,696 | 6,182 | 6,696 | 6,825 |
Multifamily [Member] | ||||||
Changes in Allowance for Loan Losses: | ||||||
Beginning balance | 158 | 102 | 195 | 106 | ||
Provisions | 74 | 44 | 37 | 40 | ||
Charge-offs | 0 | 0 | 0 | 0 | ||
Recoveries | 0 | 0 | 0 | 0 | ||
Ending balance | 232 | 146 | 232 | 146 | ||
Ending Allowance Balance Attributable to Loans: | ||||||
Individually evaluated for impairment | 0 | 0 | ||||
Collectively evaluated for impairment | 232 | 195 | ||||
Ending balance | 232 | 102 | 232 | 146 | 232 | 195 |
Construction [Member] | ||||||
Changes in Allowance for Loan Losses: | ||||||
Beginning balance | 693 | 903 | 580 | 810 | ||
Provisions | (178) | 82 | (65) | 175 | ||
Charge-offs | 0 | 0 | 0 | 0 | ||
Recoveries | 0 | 0 | 0 | 0 | ||
Ending balance | 515 | 985 | 515 | 985 | ||
Ending Allowance Balance Attributable to Loans: | ||||||
Individually evaluated for impairment | 0 | 0 | ||||
Collectively evaluated for impairment | 515 | 580 | ||||
Ending balance | 515 | 903 | 515 | 985 | 515 | 580 |
Land and Land Development [Member] | ||||||
Changes in Allowance for Loan Losses: | ||||||
Beginning balance | 219 | 219 | 210 | 223 | ||
Provisions | 18 | 11 | 27 | 7 | ||
Charge-offs | 0 | 0 | 0 | 0 | ||
Recoveries | 0 | 0 | 0 | 0 | ||
Ending balance | 237 | 230 | 237 | 230 | ||
Ending Allowance Balance Attributable to Loans: | ||||||
Individually evaluated for impairment | 0 | 0 | ||||
Collectively evaluated for impairment | 237 | 210 | ||||
Ending balance | 237 | 219 | 237 | 230 | 237 | 210 |
Commercial Business [Member] | ||||||
Changes in Allowance for Loan Losses: | ||||||
Beginning balance | 1,288 | 816 | 1,041 | 839 | ||
Provisions | 246 | 110 | 493 | 87 | ||
Charge-offs | 0 | 0 | 0 | 0 | ||
Recoveries | 1 | 1 | 1 | 1 | ||
Ending balance | 1,535 | 927 | 1,535 | 927 | ||
Ending Allowance Balance Attributable to Loans: | ||||||
Individually evaluated for impairment | 70 | 0 | ||||
Collectively evaluated for impairment | 1,465 | 1,041 | ||||
Ending balance | 1,535 | 816 | 1,535 | 927 | 1,535 | 1,041 |
Consumer [Member] | ||||||
Changes in Allowance for Loan Losses: | ||||||
Beginning balance | 297 | 132 | 198 | 123 | ||
Provisions | 228 | 31 | 350 | 82 | ||
Charge-offs | (39) | (32) | (81) | (84) | ||
Recoveries | 13 | 15 | 32 | 25 | ||
Ending balance | 499 | 146 | 499 | 146 | ||
Ending Allowance Balance Attributable to Loans: | ||||||
Individually evaluated for impairment | 11 | 12 | ||||
Collectively evaluated for impairment | 488 | 186 | ||||
Ending balance | $ 297 | $ 132 | $ 198 | $ 146 | $ 499 | $ 198 |
Loans and Allowance for Loan _6
Loans and Allowance for Loan Losses (Impaired Loans Individually Evaluated For Impairment) (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2019 | Mar. 31, 2018 | Sep. 30, 2018 | |
Financing Receivable, Impaired [Line Items] | |||||
Loans with no related allowance recorded, Recorded Investment | $ 11,046 | $ 11,046 | $ 11,781 | ||
Loans with no related allowance recorded, Unpaid Principal Balance | 11,734 | 11,734 | 12,392 | ||
Loans with no related allowance recorded, Related Allowance | 0 | 0 | 0 | ||
Loans with no related allowance recorded, Average Recorded Investment | 12,143 | $ 12,699 | 12,292 | $ 12,176 | |
Loans with no related allowance recorded, Interest Income Recognized | 112 | 120 | 231 | 223 | |
Loans with an allowance recorded, Recorded Investment | 2,670 | 2,670 | 1,546 | ||
Loans with an allowance recorded, Unpaid Principal Balance | 2,727 | 2,727 | 1,703 | ||
Loans with an allowance recorded, Related Allowance | 1,044 | 1,044 | 511 | ||
Loans with an allowance recorded, Average Recorded Investment | 2,368 | 384 | 2,069 | 396 | |
Loans with an allowance recorded, Interest Income Recognized | 0 | 0 | 0 | 0 | |
Total, Recorded Investment | 13,716 | 13,716 | 13,327 | ||
Total, Unpaid Principal Balance | 14,461 | 14,461 | 14,095 | ||
Total, Related Allowance | 1,044 | 1,044 | 511 | ||
Total, Average Recorded Investment | 14,511 | 13,083 | 14,361 | 12,572 | |
Total, Interest Income Recognized | 112 | 120 | 231 | 223 | |
Residential real estate [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Loans with no related allowance recorded, Recorded Investment | 4,474 | 4,474 | 4,833 | ||
Loans with no related allowance recorded, Unpaid Principal Balance | 4,965 | 4,965 | 5,285 | ||
Loans with no related allowance recorded, Related Allowance | 0 | 0 | 0 | ||
Loans with no related allowance recorded, Average Recorded Investment | 5,132 | 5,247 | 5,203 | 5,136 | |
Loans with no related allowance recorded, Interest Income Recognized | 29 | 35 | 63 | 71 | |
Loans with an allowance recorded, Recorded Investment | 0 | 0 | 274 | ||
Loans with an allowance recorded, Unpaid Principal Balance | 0 | 0 | 282 | ||
Loans with an allowance recorded, Related Allowance | 0 | 0 | 7 | ||
Loans with an allowance recorded, Average Recorded Investment | 91 | 255 | 172 | 272 | |
Loans with an allowance recorded, Interest Income Recognized | 0 | 0 | 0 | 0 | |
Total, Recorded Investment | 4,474 | 4,474 | 5,107 | ||
Total, Unpaid Principal Balance | 4,965 | 4,965 | 5,567 | ||
Total, Related Allowance | 0 | 0 | 7 | ||
Total, Average Recorded Investment | 5,223 | 5,502 | 5,375 | 5,408 | |
Total, Interest Income Recognized | 29 | 35 | 63 | 71 | |
Commercial real estate [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Loans with no related allowance recorded, Recorded Investment | 6,261 | 6,261 | 6,568 | ||
Loans with no related allowance recorded, Unpaid Principal Balance | 6,445 | 6,445 | 6,715 | ||
Loans with no related allowance recorded, Related Allowance | 0 | 0 | 0 | ||
Loans with no related allowance recorded, Average Recorded Investment | 6,616 | 6,941 | 6,675 | 6,610 | |
Loans with no related allowance recorded, Interest Income Recognized | 80 | 80 | 162 | 144 | |
Loans with an allowance recorded, Recorded Investment | 2,464 | 2,464 | 1,151 | ||
Loans with an allowance recorded, Unpaid Principal Balance | 2,538 | 2,538 | 1,293 | ||
Loans with an allowance recorded, Related Allowance | 963 | 963 | 492 | ||
Loans with an allowance recorded, Average Recorded Investment | 2,104 | 0 | 1,722 | 0 | |
Loans with an allowance recorded, Interest Income Recognized | 0 | 0 | 0 | 0 | |
Total, Recorded Investment | 8,725 | 8,725 | 7,719 | ||
Total, Unpaid Principal Balance | 8,983 | 8,983 | 8,008 | ||
Total, Related Allowance | 963 | 963 | 492 | ||
Total, Average Recorded Investment | 8,720 | 6,941 | 8,397 | 6,610 | |
Total, Interest Income Recognized | 80 | 80 | 162 | 144 | |
Multifamily [Member] | |||||
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, Related Allowance | 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 | |
Loans with an allowance recorded, Interest Income Recognized | 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 | |
Construction [Member] | |||||
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, Related Allowance | 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 | |
Loans with an allowance recorded, Interest Income Recognized | 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 [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Loans with no related allowance recorded, Recorded Investment | 0 | 0 | 27 | ||
Loans with no related allowance recorded, Unpaid Principal Balance | 0 | 0 | 28 | ||
Loans with no related allowance recorded, Related Allowance | 0 | 0 | 0 | ||
Loans with no related allowance recorded, Average Recorded Investment | 0 | 29 | 12 | 29 | |
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 | |
Loans with an allowance recorded, Interest Income Recognized | 0 | 0 | 0 | 0 | |
Total, Recorded Investment | 0 | 0 | 27 | ||
Total, Unpaid Principal Balance | 0 | 0 | 28 | ||
Total, Related Allowance | 0 | 0 | 0 | ||
Total, Average Recorded Investment | 0 | 29 | 12 | 29 | |
Total, Interest Income Recognized | 0 | 0 | 0 | 0 | |
Commercial business [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Loans with no related allowance recorded, Recorded Investment | 200 | 200 | 231 | ||
Loans with no related allowance recorded, Unpaid Principal Balance | 209 | 209 | 241 | ||
Loans with no related allowance recorded, Related Allowance | 0 | 0 | 0 | ||
Loans with no related allowance recorded, Average Recorded Investment | 277 | 361 | 283 | 291 | |
Loans with no related allowance recorded, Interest Income Recognized | 2 | 4 | 4 | 6 | |
Loans with an allowance recorded, Recorded Investment | 97 | 97 | 0 | ||
Loans with an allowance recorded, Unpaid Principal Balance | 80 | 80 | 0 | ||
Loans with an allowance recorded, Related Allowance | 70 | 70 | 0 | ||
Loans with an allowance recorded, Average Recorded Investment | 20 | 0 | 11 | 0 | |
Loans with an allowance recorded, Interest Income Recognized | 0 | 0 | 0 | 0 | |
Total, Recorded Investment | 297 | 297 | 231 | ||
Total, Unpaid Principal Balance | 289 | 289 | 241 | ||
Total, Related Allowance | 70 | 70 | 0 | ||
Total, Average Recorded Investment | 297 | 361 | 294 | 291 | |
Total, Interest Income Recognized | 2 | 4 | 4 | 6 | |
Consumer [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Loans with no related allowance recorded, Recorded Investment | 111 | 111 | 122 | ||
Loans with no related allowance recorded, Unpaid Principal Balance | 115 | 115 | 123 | ||
Loans with no related allowance recorded, Related Allowance | 0 | 0 | 0 | ||
Loans with no related allowance recorded, Average Recorded Investment | 118 | 121 | 119 | 110 | |
Loans with no related allowance recorded, Interest Income Recognized | 1 | 1 | 2 | 2 | |
Loans with an allowance recorded, Recorded Investment | 109 | 109 | 121 | ||
Loans with an allowance recorded, Unpaid Principal Balance | 109 | 109 | 128 | ||
Loans with an allowance recorded, Related Allowance | 11 | 11 | 12 | ||
Loans with an allowance recorded, Average Recorded Investment | 153 | 129 | 164 | 124 | |
Loans with an allowance recorded, Interest Income Recognized | 0 | 0 | 0 | 0 | |
Total, Recorded Investment | 220 | 220 | 243 | ||
Total, Unpaid Principal Balance | 224 | 224 | 251 | ||
Total, Related Allowance | 11 | 11 | $ 12 | ||
Total, Average Recorded Investment | 271 | 250 | 283 | 234 | |
Total, Interest Income Recognized | $ 1 | $ 1 | $ 2 | $ 2 |
Loans and Allowance for Loan _7
Loans and Allowance for Loan Losses (Recorded Investment In Nonperforming Loans By Class Of Loans) (Detail) - USD ($) $ in Thousands | Mar. 31, 2019 | Sep. 30, 2018 |
Financing Receivable, Recorded Investment [Line Items] | ||
Nonaccrual Loans | $ 5,215 | $ 4,182 |
Loans 90+ Days Past Due Still Accruing | 156 | 91 |
Total Nonperforming Loans | 5,371 | 4,273 |
Residential real estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Nonaccrual Loans | 2,446 | 2,711 |
Loans 90+ Days Past Due Still Accruing | 141 | 91 |
Total Nonperforming Loans | 2,587 | 2,802 |
Commercial real estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Nonaccrual Loans | 2,529 | 1,284 |
Loans 90+ Days Past Due Still Accruing | 0 | 0 |
Total Nonperforming Loans | 2,529 | 1,284 |
Multifamily [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Nonaccrual Loans | 0 | 0 |
Loans 90+ Days Past Due Still Accruing | 0 | 0 |
Total Nonperforming Loans | 0 | 0 |
Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Nonaccrual Loans | 0 | 0 |
Loans 90+ Days Past Due Still Accruing | 0 | 0 |
Total Nonperforming Loans | 0 | 0 |
Land and land development [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Nonaccrual Loans | 0 | 27 |
Loans 90+ Days Past Due Still Accruing | 0 | 0 |
Total Nonperforming Loans | 0 | 27 |
Commercial business [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Nonaccrual Loans | 97 | 0 |
Loans 90+ Days Past Due Still Accruing | 0 | 0 |
Total Nonperforming Loans | 97 | 0 |
Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Nonaccrual Loans | 143 | 160 |
Loans 90+ Days Past Due Still Accruing | 15 | 0 |
Total Nonperforming Loans | $ 158 | $ 160 |
Loans and Allowance for Loan _8
Loans and Allowance for Loan Losses (Aging of Recorded Investment in Past Due Loans) (Detail) - USD ($) $ in Thousands | Mar. 31, 2019 | Sep. 30, 2018 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | $ 6,535 | $ 4,991 |
Current | 768,942 | 711,290 |
Total Loans | 775,477 | 716,281 |
Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 3,436 | 2,834 |
Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 149 | 713 |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 2,950 | 1,444 |
Residential real estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 3,276 | 3,939 |
Current | 195,773 | 191,862 |
Total Loans | 199,049 | 195,801 |
Residential real estate [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 2,423 | 2,088 |
Residential real estate [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 71 | 649 |
Residential real estate [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 782 | 1,202 |
Commercial real estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 2,929 | 906 |
Current | 382,491 | 344,099 |
Total Loans | 385,420 | 345,005 |
Commercial real estate [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 843 | 696 |
Commercial real estate [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 29 | 0 |
Commercial real estate [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 2,057 | 210 |
Multifamily [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Current | 34,483 | 28,865 |
Total Loans | 34,483 | 28,865 |
Multifamily [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Multifamily [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Multifamily [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Construction [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Current | 24,280 | 28,347 |
Total Loans | 24,280 | 28,347 |
Construction [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Construction [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Construction [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Land and land development [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 87 | 27 |
Current | 11,761 | 10,497 |
Total Loans | 11,848 | 10,524 |
Land and land development [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 39 | 0 |
Land and land development [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 48 | 27 |
Land and land development [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Commercial business [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 149 | 7 |
Current | 78,199 | 68,419 |
Total Loans | 78,348 | 68,426 |
Commercial business [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 53 | 7 |
Commercial business [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Commercial business [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 96 | 0 |
Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 94 | 112 |
Current | 41,955 | 39,201 |
Total Loans | 42,049 | 39,313 |
Consumer [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 78 | 43 |
Consumer [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1 | 37 |
Consumer [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | $ 15 | $ 32 |
Loans and Allowance for Loan _9
Loans and Allowance for Loan Losses (Recorded Investment in Loans by Risk Category) (Detail) - USD ($) $ in Thousands | Mar. 31, 2019 | Sep. 30, 2018 |
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | $ 775,477 | $ 716,281 |
Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 757,775 | 701,230 |
Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 1,463 | 309 |
Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 16,170 | 14,668 |
Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 69 | 74 |
Loss [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 0 | 0 |
Residential Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 199,049 | 195,801 |
Residential Real Estate [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 194,698 | 190,647 |
Residential Real Estate [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 0 | 19 |
Residential Real Estate [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 4,285 | 5,061 |
Residential Real Estate [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 66 | 74 |
Residential Real Estate [Member] | Loss [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 0 | 0 |
Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 385,420 | 345,005 |
Commercial Real Estate [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 375,796 | 338,256 |
Commercial Real Estate [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 1,063 | 0 |
Commercial Real Estate [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 8,561 | 6,749 |
Commercial Real Estate [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 0 | 0 |
Commercial Real Estate [Member] | Loss [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 0 | 0 |
Multifamily [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 34,483 | 28,865 |
Multifamily [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 33,998 | 28,365 |
Multifamily [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 0 | 0 |
Multifamily [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 485 | 500 |
Multifamily [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 0 | 0 |
Multifamily [Member] | Loss [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 0 | 0 |
Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 24,280 | 28,347 |
Construction [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 24,280 | 28,347 |
Construction [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 0 | 0 |
Construction [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 0 | 0 |
Construction [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 0 | 0 |
Construction [Member] | Loss [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 0 | 0 |
Land and Land Development [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 11,848 | 10,524 |
Land and Land Development [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 11,848 | 10,207 |
Land and Land Development [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 0 | 290 |
Land and Land Development [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 0 | 27 |
Land and Land Development [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 0 | 0 |
Land and Land Development [Member] | Loss [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 0 | 0 |
Commercial Business [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 78,348 | 68,426 |
Commercial Business [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 75,176 | 66,162 |
Commercial Business [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 400 | 0 |
Commercial Business [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 2,772 | 2,264 |
Commercial Business [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 0 | 0 |
Commercial Business [Member] | Loss [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 0 | 0 |
Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 42,049 | 39,313 |
Consumer [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 41,979 | 39,246 |
Consumer [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 0 | 0 |
Consumer [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 67 | 67 |
Consumer [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | 3 | 0 |
Consumer [Member] | Loss [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total Loans | $ 0 | $ 0 |
Loans and Allowance for Loan_10
Loans and Allowance for Loan Losses (Recorded Investment in Troubled Debt Restructurings by Class of Loan and Accrual Status) (Detail) - USD ($) $ in Thousands | Mar. 31, 2019 | Sep. 30, 2018 |
Financing Receivable, Modifications [Line Items] | ||
Accruing | $ 8,501 | $ 9,145 |
Nonaccrual | 358 | 86 |
Total | 8,859 | 9,231 |
Residential Real Estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Accruing | 2,028 | 2,396 |
Nonaccrual | 293 | 21 |
Total | 2,321 | 2,417 |
Commercial real estate [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Accruing | 6,196 | 6,435 |
Nonaccrual | 65 | 65 |
Total | 6,261 | 6,500 |
Commercial business [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Accruing | 200 | 231 |
Nonaccrual | 0 | 0 |
Total | 200 | 231 |
Consumer [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Accruing | 77 | 83 |
Nonaccrual | 0 | 0 |
Total | $ 77 | $ 83 |
Loans and Allowance for Loan_11
Loans and Allowance for Loan Losses (Troubled Debt Restructurings) (Detail) $ in Thousands | 3 Months Ended | 6 Months Ended | |
Mar. 31, 2018USD ($)Number | Dec. 31, 2017Number | Mar. 31, 2018USD ($)Number | |
Troubled Debt Restructuring, Debtor, Subsequent Periods [Line Items] | |||
Number of Loans | Number | 1 | 4 | |
Pre-Modification Principal Balance | $ 140 | $ 1,987 | |
Post-Modification Principal Balance | $ 120 | $ 1,967 | |
Residential real estate [Member] | |||
Troubled Debt Restructuring, Debtor, Subsequent Periods [Line Items] | |||
Number of Loans | Number | 1 | 1 | |
Pre-Modification Principal Balance | $ 140 | $ 140 | |
Post-Modification Principal Balance | $ 120 | $ 120 | |
Commercial real estate [Member] | |||
Troubled Debt Restructuring, Debtor, Subsequent Periods [Line Items] | |||
Number of Loans | Number | 1 | ||
Pre-Modification Principal Balance | $ 1,674 | ||
Post-Modification Principal Balance | 1,674 | ||
Commercial Business [Member] | |||
Troubled Debt Restructuring, Debtor, Subsequent Periods [Line Items] | |||
Number of Loans | Number | 1 | ||
Pre-Modification Principal Balance | 170 | ||
Post-Modification Principal Balance | 170 | ||
Consumer [Member] | |||
Troubled Debt Restructuring, Debtor, Subsequent Periods [Line Items] | |||
Number of Loans | Number | 1 | ||
Pre-Modification Principal Balance | 3 | ||
Post-Modification Principal Balance | $ 3 |
LOANS AND ALLOWANCE FOR LOAN_12
LOANS AND ALLOWANCE FOR LOAN LOSSES (Loan Servicing Rights) (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2019 | Mar. 31, 2018 | |
Balance, beginning of period | $ 2,554 | $ 1,746 | $ 2,405 | $ 1,389 |
Servicing rights resulting from transfers of loans | 192 | 438 | 443 | 867 |
Amortization | (151) | (68) | (253) | (140) |
Change in valuation allowance | 0 | 0 | 0 | 0 |
Balance, end of period | $ 2,595 | $ 2,116 | $ 2,595 | $ 2,116 |
Loans and Allowance for Loan_13
Loans and Allowance for Loan Losses (Additional Information) (Detail) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2019 | Mar. 31, 2018 | Sep. 30, 2018 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Loans and Leases Receivable, Impaired, Commitment to Lend | $ 1,000 | ||||
Impaired Financing Receivable, Unpaid Principal Balance | $ 14,461,000 | $ 14,461,000 | 14,095,000 | ||
Troubled Debt Restructuring, Debtor, Subsequent Periods, Contingent Payments, Amount | 114,000 | 114,000 | |||
Servicing Assets Valuation Allowance | 177,000 | ||||
Residential Real Estate [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Real Estate Acquired Through Foreclosure | 967,000 | 967,000 | 1,300,000 | ||
Other Real Estate | 79,000 | 79,000 | 103,000 | ||
Loan Servicing Rights [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Impaired Financing Receivable, Unpaid Principal Balance | 137,600,000 | $ 96,900,000 | 137,600,000 | $ 96,900,000 | 120,600,000 |
Financial Service Revenue | 6,000 | 9,000 | |||
Loan Servicing Rights [Member] | Bank Servicing [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Revenue from Contract with Customer, Including Assessed Tax | 9,000 | 16,000 | |||
Troubled Debt Restructuring [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Loans and Leases Receivable, Allowance, Covered | $ 5,000 | ||||
SBA Loans [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Financial Service Revenue | $ 301,000 | $ 191,000 | $ 573,000 | $ 341,000 |
Deposits (Summary of Deposits)
Deposits (Summary of Deposits) (Detail) - USD ($) $ in Thousands | Mar. 31, 2019 | Sep. 30, 2018 |
Deposits [Line Items] | ||
Noninterest-bearing demand deposits | $ 162,901 | $ 167,705 |
NOW accounts | 170,454 | 173,543 |
Money market accounts | 104,691 | 107,124 |
Savings accounts | 121,978 | 120,995 |
Retail time deposits | 136,640 | 123,007 |
Brokered time deposits | 128,106 | 118,738 |
Total | $ 824,770 | $ 811,112 |
Supplemental Disclosure for E_3
Supplemental Disclosure for Earnings Per Share (Earnings Per Share Information) (Detail) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2019 | Mar. 31, 2018 | |
Earnings: | ||||
Net income attributable to First Savings Financial Group, Inc. | $ 3,533,000 | $ 1,646,000 | $ 6,464 | $ 5,052 |
Shares: | ||||
Weighted average shares outstanding | 2,307,155 | 2,251,425 | 2,295,788 | 2,239,823 |
Net income per share, basic | $ 1.53 | $ 0.73 | $ 2.82 | $ 2.26 |
Earnings: | ||||
Net income attributable to First Savings Financial Group, Inc. | $ 3,533,000 | $ 1,646,000 | $ 6,464 | $ 5,052 |
Shares: | ||||
Weighted average shares outstanding | 2,307,155 | 2,251,425 | 2,295,788 | 2,239,823 |
Add: Dilutive effect of outstanding options | 50,205 | 113,176 | 65,650 | 117,518 |
Add: Dilutive effect of nonvested restricted stock | 2,644 | 5,659 | 5,086 | 6,265 |
Weighted average shares outstanding, as adjusted | 2,360,004 | 2,370,260 | 2,366,524 | 2,363,606 |
Net income per share, diluted | $ 1.50 | $ 0.69 | $ 2.73 | $ 2.14 |
Supplemental Disclosure for E_4
Supplemental Disclosure for Earnings Per Share (Additional Information) (Detail) | 6 Months Ended |
Mar. 31, 2019shares | |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 10,200 |
Supplemental Disclosures of C_3
Supplemental Disclosures of Cash Flow Information (Cash Flow Information) (Detail) - USD ($) $ in Thousands | 6 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Cash payments for: | ||
Interest | $ 4,095 | $ 2,766 |
Income taxes (net of refunds received) | 337 | 1,214 |
Non-cash activities: | ||
Transfers from loans held for sale to loans | 0 | 560 |
Transfers from loans to foreclosed real estate | 224 | 0 |
Proceeds from sales of foreclosed real estate financed through loans | 47 | 427 |
Noncash exercise of stock options | 542 | 387 |
Transfers from premises and equipment to other real estate owned | $ 1,838 | $ 0 |
Fair Value Measurements and D_3
Fair Value Measurements and Disclosures about Fair Value of Financial Instruments (Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation) (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2019 | Mar. 31, 2018 | |
Fair Value Disclosures [Abstract] | ||||
Beginning balance | $ 658 | $ 0 | $ 380 | $ 0 |
Unrealized gains recognized in earnings, net of settlements | 1,047 | 0 | 1,325 | 0 |
Ending balance | $ 1,705 | $ 0 | $ 1,705 | $ 0 |
Fair Value Measurements and D_4
Fair Value Measurements and Disclosures about Fair Value of Financial Instruments (Valuation Techniques) (Detail) | Mar. 31, 2019 | Sep. 30, 2018 |
Pull Through Rate [Member] | Maximum [Member] | ||
Debt Instrument, Measurement Input | 97 | 95 |
Pull Through Rate [Member] | Minimum [Member] | ||
Debt Instrument, Measurement Input | 69 | 72 |
Direct Costs to Close [Member] | ||
Debt Instrument, Measurement Input | 1 | |
Direct Costs to Close [Member] | Maximum [Member] | ||
Debt Instrument, Measurement Input | 3 | |
Direct Costs to Close [Member] | Minimum [Member] | ||
Debt Instrument, Measurement Input | 1 |
Fair Value Measurements and D_5
Fair Value Measurements and Disclosures about Fair Value of Financial Instruments (Fair Value By Balance Sheet Grouping) (Detail) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended | |
Mar. 31, 2018 | Sep. 30, 2018 | Mar. 31, 2019 | |
Residential mortgage loans held for sale Aggregate Fair Value | $ 9,952 | $ 25,017 | |
Residential mortgage loans held for sale Aggregate Principal Balance | 9,695 | $ 23,959 | |
Residential mortgage loans held for sale Difference | $ 1,058 | $ 257 |
Fair Value Measurements and D_6
Fair Value Measurements and Disclosures about Fair Value of Financial Instruments (Fair Value Assets And Liabilities Measured On Recurring Basis Gain Loss Included In Earnings) (Detail) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2019 | Mar. 31, 2018 | |
Gains – included in mortgage banking income | $ 5,074,000 | $ 53,000 | $ 8,363,000 | $ 168,000 |
Fair Value, Measured on Recurring Basis, Gain (Loss) Included in Earnings | 624 | 0 | 1,367 | 0 |
Interest Income [Member] | ||||
Interest income | 187 | 0 | 341 | 0 |
Mortgage Banking [Member] | ||||
Gains – included in mortgage banking income | $ 437,000 | $ 0 | $ 1,026 | $ 0 |
Fair Value Measurements and D_7
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, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Total securities available for sale | $ 191,082,000 | $ 184,373,000 | ||||
Total loans held for sale | 25,017,000 | 9,952,000 | ||||
Loans servicing rights | 2,595,000 | $ 2,554,000 | 2,405,000 | $ 2,116,000 | $ 1,746,000 | $ 1,389,000 |
Residential mortgage loans held for sale | 762,661,000 | 704,271,000 | ||||
Derivative assets (included in other assets) | 1,705,000 | 421,000 | ||||
Derivative liabilities (included in other liabilities) | 384,000 | 0 | ||||
Other real estate owned | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Total other real estate owned | 1,917,000 | |||||
Residential real estate | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Total other real estate owned | 967,000 | 1,300,000 | ||||
Residential real estate | Other real estate owned | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Total other real estate owned | 79,000 | |||||
Fair Value, Measurements, Recurring | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Total securities available for sale | 191,082,000 | 184,373,000 | ||||
Derivative assets (included in other assets) | 1,705,000 | 421,000 | ||||
Derivative liabilities (included in other liabilities) | 384,000 | |||||
Fair Value, Measurements, Recurring | Residential Mortgage Loans Held For Sale Fair Value Option Elected [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Residential mortgage loans held for sale | 25,017,000 | 9,952,000 | ||||
Fair Value, Measurements, Recurring | Agency mortgage-backed | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Total securities available for sale | 23,493,000 | 31,130,000 | ||||
Fair Value, Measurements, Recurring | Agency CMO | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Total securities available for sale | 11,630,000 | 10,441,000 | ||||
Fair Value, Measurements, Recurring | Privately issued CMO | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Total securities available for sale | 1,433,000 | 1,579,000 | ||||
Fair Value, Measurements, Recurring | Privately-issued ABS | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Total securities available for sale | 1,383,000 | 1,884,000 | ||||
Fair Value, Measurements, Recurring | SBA Certificates | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Total securities available for sale | 1,233,000 | 1,351,000 | ||||
Fair Value, Measurements, Recurring | Municipal bonds | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Total securities available for sale | 151,910,000 | 137,988,000 | ||||
Fair Value, Measurements, Nonrecurring | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Total impaired loans | 12,672,000 | 12,816,000 | ||||
Loans servicing rights | 2,595,000 | 2,405,000 | ||||
Total other real estate owned | 103,000 | |||||
Fair Value, Measurements, Nonrecurring | Bank Premises [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Total impaired loans | 1,838,000 | |||||
Fair Value, Measurements, Nonrecurring | Residential real estate | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Total impaired loans | 4,474,000 | 5,100,000 | ||||
Fair Value, Measurements, Nonrecurring | Commercial real estate | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Total impaired loans | 7,762,000 | 7,227,000 | ||||
Fair Value, Measurements, Nonrecurring | Commercial business | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Total impaired loans | 227,000 | 231,000 | ||||
Fair Value, Measurements, Nonrecurring | Consumer | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Total impaired loans | 209,000 | 231,000 | ||||
Fair Value, Measurements, Nonrecurring | Land and Land Development [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Total impaired loans | 27,000 | |||||
Fair Value, Measurements, Nonrecurring | Small Business Administration Loan [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Total loans held for sale | 23,786,000 | 21,659,000 | ||||
Fair Value, Measurements, Nonrecurring | Residential mortgage loans held for sale [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Total other real estate owned | 103,000 | |||||
Fair Value, Measurements, Nonrecurring | Residential Mortgage Loans Held For Sale Fair Value Option Not Elected [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Residential mortgage loans held for sale | 0 | 514,000 | ||||
Level 1 | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Total securities available for sale | 0 | 0 | ||||
Loans servicing rights | 0 | 0 | ||||
Residential mortgage loans held for sale | 0 | 0 | ||||
Derivative assets (included in other assets) | 0 | 0 | ||||
Derivative liabilities (included in other liabilities) | 0 | |||||
Level 1 | Other real estate owned | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Total other real estate owned | 0 | |||||
Level 1 | Residential real estate | Other real estate owned | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Total other real estate owned | 0 | |||||
Level 1 | Residential mortgage loans held for sale [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Residential mortgage loans held for sale | 0 | 0 | ||||
Level 1 | Fair Value, Measurements, Recurring | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Total securities available for sale | 0 | 0 | ||||
Derivative assets (included in other assets) | 0 | 0 | ||||
Derivative liabilities (included in other liabilities) | 0 | |||||
Level 1 | Fair Value, Measurements, Recurring | Residential Mortgage Loans Held For Sale Fair Value Option Elected [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Residential mortgage loans held for sale | 0 | |||||
Level 1 | Fair Value, Measurements, Recurring | Agency mortgage-backed | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Total 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] | ||||||
Total 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] | ||||||
Total 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] | ||||||
Total 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] | ||||||
Total securities available for sale | 0 | 0 | ||||
Level 1 | Fair Value, Measurements, Recurring | Municipal bonds | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Total 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 | ||||
Loans servicing rights | 0 | 0 | ||||
Total other real estate owned | 0 | |||||
Level 1 | Fair Value, Measurements, Nonrecurring | Bank Premises [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Total impaired loans | 0 | |||||
Level 1 | Fair Value, Measurements, Nonrecurring | Residential real estate | ||||||
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 | ||||||
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 business | ||||||
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 | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Total impaired loans | 0 | 0 | ||||
Level 1 | Fair Value, Measurements, Nonrecurring | Land and Land Development [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Total impaired loans | 0 | |||||
Level 1 | Fair Value, Measurements, Nonrecurring | Small Business Administration Loan [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Total loans held for sale | 0 | 0 | ||||
Level 1 | Fair Value, Measurements, Nonrecurring | Residential mortgage loans held for sale [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Total other real estate owned | 0 | |||||
Level 1 | Fair Value, Measurements, Nonrecurring | Residential Mortgage Loans Held For Sale Fair Value Option Not Elected [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Residential mortgage loans held for sale | 0 | |||||
Level 2 | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Total securities available for sale | 191,082,000 | 184,373,000 | ||||
Loans servicing rights | 0 | 0 | ||||
Residential mortgage loans held for sale | 0 | 0 | ||||
Derivative assets (included in other assets) | 0 | 41,000 | ||||
Derivative liabilities (included in other liabilities) | 384,000 | |||||
Level 2 | Other real estate owned | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Total other real estate owned | 0 | |||||
Level 2 | Residential real estate | Other real estate owned | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Total other real estate owned | 0 | |||||
Level 2 | Residential mortgage loans held for sale [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Residential mortgage loans held for sale | 25,017,000 | 10,476,000 | ||||
Level 2 | Fair Value, Measurements, Recurring | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Total securities available for sale | 191,082,000 | 184,373,000 | ||||
Derivative assets (included in other assets) | 0 | 41,000 | ||||
Derivative liabilities (included in other liabilities) | 384,000 | |||||
Level 2 | Fair Value, Measurements, Recurring | Residential Mortgage Loans Held For Sale Fair Value Option Elected [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Residential mortgage loans held for sale | 25,017,000 | 9,952,000 | ||||
Level 2 | Fair Value, Measurements, Recurring | Agency mortgage-backed | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Total securities available for sale | 23,493,000 | 31,130,000 | ||||
Level 2 | Fair Value, Measurements, Recurring | Agency CMO | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Total securities available for sale | 11,630,000 | 10,441,000 | ||||
Level 2 | Fair Value, Measurements, Recurring | Privately issued CMO | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Total securities available for sale | 1,433,000 | 1,579,000 | ||||
Level 2 | Fair Value, Measurements, Recurring | Privately-issued ABS | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Total securities available for sale | 1,383,000 | 1,884,000 | ||||
Level 2 | Fair Value, Measurements, Recurring | SBA Certificates | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Total securities available for sale | 1,233,000 | 1,351,000 | ||||
Level 2 | Fair Value, Measurements, Recurring | Municipal bonds | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Total securities available for sale | 151,910,000 | 137,988,000 | ||||
Level 2 | Fair Value, Measurements, Nonrecurring | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Total impaired loans | 0 | 0 | ||||
Loans servicing rights | 0 | 0 | ||||
Total other real estate owned | 0 | |||||
Level 2 | Fair Value, Measurements, Nonrecurring | Bank Premises [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Total impaired loans | 0 | |||||
Level 2 | Fair Value, Measurements, Nonrecurring | Residential real estate | ||||||
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 | ||||||
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 business | ||||||
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 | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Total impaired loans | 0 | 0 | ||||
Level 2 | Fair Value, Measurements, Nonrecurring | Land and Land Development [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Total impaired loans | 0 | |||||
Level 2 | Fair Value, Measurements, Nonrecurring | Small Business Administration Loan [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Total loans held for sale | 0 | 21,659,000 | ||||
Level 2 | Fair Value, Measurements, Nonrecurring | Residential mortgage loans held for sale [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Total other real estate owned | 0 | |||||
Level 2 | Fair Value, Measurements, Nonrecurring | Residential Mortgage Loans Held For Sale Fair Value Option Not Elected [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Residential mortgage loans held for sale | 514,000 | |||||
Level 3 | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Total securities available for sale | 0 | 0 | ||||
Loans servicing rights | 2,595 | 2,405,000 | ||||
Residential mortgage loans held for sale | 727,442 | 673,652,000 | ||||
Derivative assets (included in other assets) | 1,705 | 380,000 | ||||
Derivative liabilities (included in other liabilities) | 0 | |||||
Level 3 | Other real estate owned | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Total other real estate owned | 1,917,000 | |||||
Level 3 | Residential real estate | Other real estate owned | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Total other real estate owned | 79,000 | |||||
Level 3 | Residential mortgage loans held for sale [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Residential mortgage loans held for sale | 0 | 0 | ||||
Level 3 | Fair Value, Measurements, Recurring | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Total securities available for sale | 0 | 0 | ||||
Derivative assets (included in other assets) | 1,705,000 | 380,000 | ||||
Derivative liabilities (included in other liabilities) | 0 | |||||
Level 3 | Fair Value, Measurements, Recurring | Residential Mortgage Loans Held For Sale Fair Value Option Elected [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Residential mortgage loans held 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] | ||||||
Total 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] | ||||||
Total 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] | ||||||
Total 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] | ||||||
Total 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] | ||||||
Total securities available for sale | 0 | 0 | ||||
Level 3 | Fair Value, Measurements, Recurring | Municipal bonds | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Total 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 | 12,672,000 | 12,816,000 | ||||
Loans servicing rights | 2,595,000 | 2,405,000 | ||||
Total other real estate owned | 103,000 | |||||
Level 3 | Fair Value, Measurements, Nonrecurring | Bank Premises [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Total impaired loans | 1,838,000 | |||||
Level 3 | Fair Value, Measurements, Nonrecurring | Residential real estate | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Total impaired loans | 4,474,000 | 5,100,000 | ||||
Level 3 | Fair Value, Measurements, Nonrecurring | Commercial real estate | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Total impaired loans | 7,762,000 | 7,227,000 | ||||
Level 3 | Fair Value, Measurements, Nonrecurring | Commercial business | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Total impaired loans | 227,000 | 231,000 | ||||
Level 3 | Fair Value, Measurements, Nonrecurring | Consumer | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Total impaired loans | 209,000 | 231,000 | ||||
Level 3 | Fair Value, Measurements, Nonrecurring | Land and Land Development [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Total impaired loans | 27,000 | |||||
Level 3 | Fair Value, Measurements, Nonrecurring | Small Business Administration Loan [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Total loans held for sale | $ 23,786,000 | 0 | ||||
Level 3 | Fair Value, Measurements, Nonrecurring | Residential mortgage loans held for sale [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Total other real estate owned | 103,000 | |||||
Level 3 | Fair Value, Measurements, Nonrecurring | Residential Mortgage Loans Held For Sale Fair Value Option Not Elected [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Residential mortgage loans held for sale | $ 0 |
Fair Value Measurements and D_8
Fair Value Measurements and Disclosures about Fair Value of Financial Instruments (Carrying Value And Estimated Fair Value Of Financial Instruments) (Detail) - USD ($) | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 |
Financial assets: | ||||||
Cash and due from banks | $ 11,617,000 | $ 14,191,000 | ||||
Interest-bearing deposits with banks | 28,825,000 | 28,083,000 | ||||
Securities available for sale | 191,082,000 | 184,373,000 | ||||
Securities held to maturity | 2,465,000 | 2,607,000 | ||||
Loans, net | 762,661,000 | 704,271,000 | ||||
Loan servicing rights (included in other assets) | 2,595,000 | $ 2,554,000 | 2,405,000 | $ 2,116,000 | $ 1,746,000 | $ 1,389,000 |
Derivative assets (included in other assets) | 1,705,000 | 421,000 | ||||
Financial liabilities: | ||||||
Deposits | 824,770,000 | 811,112,000 | ||||
Short-term repurchase agreements | 1,353,000 | 1,352,000 | ||||
Borrowings from FHLB | 160,938,000 | 90,000,000 | ||||
Accrued interest payable | 1,325,000 | 743,000 | ||||
Advance payments by borrowers for taxes and insurance | 1,274,000 | 1,218,000 | ||||
Derivative Liability | 384,000 | 0 | ||||
Fair Value, Inputs, Level 1 [Member] | ||||||
Financial assets: | ||||||
Cash and due from banks | 11,617,000 | 14,191,000 | ||||
Interest-bearing deposits with banks | 28,825,000 | 28,083,000 | ||||
Interest-bearing time deposits | 0 | 0 | ||||
Securities available for sale | 0 | 0 | ||||
Securities held to maturity | 0 | 0 | ||||
Loans, net | 0 | 0 | ||||
Accrued interest receivable | 0 | 0 | ||||
Loan servicing rights (included in other assets) | 0 | 0 | ||||
Derivative assets (included in other assets) | 0 | 0 | ||||
Financial liabilities: | ||||||
Deposits | 0 | 0 | ||||
Short-term repurchase agreements | 0 | 0 | ||||
Borrowings from FHLB | 0 | 0 | ||||
Subordinated note | 0 | 0 | ||||
Accrued interest payable | 0 | 0 | ||||
Advance payments by borrowers for taxes and insurance | 0 | 0 | ||||
Derivative Liability | 0 | |||||
Fair Value, Inputs, Level 1 [Member] | Small Business Administration Loans [Member] | ||||||
Financial assets: | ||||||
Loans, net | 0 | 0 | ||||
Fair Value, Inputs, Level 1 [Member] | Residential mortgage loans held for sale [Member] | ||||||
Financial assets: | ||||||
Loans, net | 0 | 0 | ||||
Fair Value, Inputs, Level 2 [Member] | ||||||
Financial assets: | ||||||
Cash and due from banks | 0 | 0 | ||||
Interest-bearing deposits with banks | 0 | 0 | ||||
Interest-bearing time deposits | 2,958,000 | 2,494,000 | ||||
Securities available for sale | 191,082,000 | 184,373,000 | ||||
Securities held to maturity | 2,861,000 | 2,896,000 | ||||
Loans, net | 0 | 0 | ||||
Accrued interest receivable | 4,602,000 | 4,287,000 | ||||
Loan servicing rights (included in other assets) | 0 | 0 | ||||
Derivative assets (included in other assets) | 0 | 41,000 | ||||
Financial liabilities: | ||||||
Deposits | 0 | 0 | ||||
Short-term repurchase agreements | 1,353,000 | 1,352,000 | ||||
Borrowings from FHLB | 155,264,000 | 84,175,000 | ||||
Subordinated note | 19,695,000 | 19,661,000 | ||||
Accrued interest payable | 1,325,000 | 743,000 | ||||
Advance payments by borrowers for taxes and insurance | 1,274,000 | 1,218,000 | ||||
Derivative Liability | 384,000 | |||||
Fair Value, Inputs, Level 2 [Member] | Small Business Administration Loans [Member] | ||||||
Financial assets: | ||||||
Loans, net | 0 | 23,488,000 | ||||
Fair Value, Inputs, Level 2 [Member] | Residential mortgage loans held for sale [Member] | ||||||
Financial assets: | ||||||
Loans, net | 25,017,000 | 10,476,000 | ||||
Fair Value, Inputs, Level 3 [Member] | ||||||
Financial assets: | ||||||
Cash and due from banks | 0 | 0 | ||||
Interest-bearing deposits with banks | 0 | 0 | ||||
Interest-bearing time deposits | 0 | 0 | ||||
Securities available for sale | 0 | 0 | ||||
Securities held to maturity | 0 | 0 | ||||
Loans, net | 727,442 | 673,652,000 | ||||
Accrued interest receivable | 0 | 0 | ||||
Loan servicing rights (included in other assets) | 2,595 | 2,405,000 | ||||
Derivative assets (included in other assets) | 1,705 | 380,000 | ||||
Financial liabilities: | ||||||
Deposits | 824,193 | 809,305,000 | ||||
Short-term repurchase agreements | 0 | 0 | ||||
Borrowings from FHLB | 0 | 0 | ||||
Subordinated note | 0 | 0 | ||||
Accrued interest payable | 0 | 0 | ||||
Advance payments by borrowers for taxes and insurance | 0 | 0 | ||||
Derivative Liability | 0 | |||||
Fair Value, Inputs, Level 3 [Member] | Small Business Administration Loans [Member] | ||||||
Financial assets: | ||||||
Loans, net | 26,407 | 0 | ||||
Fair Value, Inputs, Level 3 [Member] | Residential mortgage loans held for sale [Member] | ||||||
Financial assets: | ||||||
Loans, net | 0 | 0 | ||||
Estimate of Fair Value Measurement [Member] | ||||||
Financial assets: | ||||||
Cash and due from banks | 11,617,000 | 14,191,000 | ||||
Interest-bearing deposits with banks | 28,825,000 | 28,083,000 | ||||
Interest-bearing time deposits | 2,963,000 | 2,501,000 | ||||
Securities available for sale | 191,082,000 | 184,373,000 | ||||
Securities held to maturity | 2,465,000 | 2,607,000 | ||||
Loans, net | 762,661,000 | 704,271,000 | ||||
FRB and FHLB stock | 10,196,000 | 9,621,000 | ||||
Accrued interest receivable | 4,602,000 | 4,287,000 | ||||
Loan servicing rights (included in other assets) | 2,595,000 | 2,405,000 | ||||
Derivative assets (included in other assets) | 1,705,000 | 421,000 | ||||
Financial liabilities: | ||||||
Deposits | 824,770,000 | 811,112,000 | ||||
Short-term repurchase agreements | 1,353,000 | 1,352,000 | ||||
Borrowings from FHLB | 160,938,000 | 90,000,000 | ||||
Subordinated note | 19,695,000 | 19,661,000 | ||||
Accrued interest payable | 1,325,000 | 743,000 | ||||
Advance payments by borrowers for taxes and insurance | 1,274,000 | 1,218,000 | ||||
Derivative Liability | 384,000 | |||||
Estimate of Fair Value Measurement [Member] | Small Business Administration Loans [Member] | ||||||
Financial assets: | ||||||
Loans, net | 23,786,000 | 21,659,000 | ||||
Estimate of Fair Value Measurement [Member] | Residential mortgage loans held for sale [Member] | ||||||
Financial assets: | ||||||
Loans, net | $ 25,017,000 | $ 10,466,000 |
Fair Value Measurements and D_9
Fair Value Measurements and Disclosures about Fair Value of Financial Instruments (Additional information) (Detail) | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||
Mar. 31, 2019USD ($) | Mar. 31, 2018USD ($) | Mar. 31, 2019USD ($)Number | Mar. 31, 2018USD ($) | Sep. 30, 2018 | Dec. 31, 2018Number | |
Financing Receivable Recorded Investment 90 Days Past Due And Still Accruing Number Of Loans Less than Thousand | 1,000 | |||||
Other Real Estate, Valuation Adjustments | $ | $ 49,000 | $ 59,000 | ||||
Impaired Loans [Member] | ||||||
Foreclosed Real Estate Expense | $ | $ 379,000 | $ 16,000 | $ 546,000 | $ 18,000 | ||
Maximum [Member] | Measurement Input, Discount Rate [Member] | ||||||
Other Real Estate Owned, Measurement Input | 67.1 | |||||
Maximum [Member] | Foreclosed Real Estate Held [Member] | Measurement Input, Discount Rate [Member] | ||||||
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Discount Rate | 100.00% | |||||
Maximum [Member] | Collateral [Member] | Measurement Input, Discount Rate [Member] | ||||||
Fair Value Inputs Discount Rate | 6.00% | |||||
Maximum [Member] | Impaired Loans [Member] | Measurement Input, Discount Rate [Member] | ||||||
Fair Value Inputs Discount Rate | 15.00% | |||||
Maximum [Member] | Loan Servicing Rights [Member] | Measurement Input, Discount Rate [Member] | ||||||
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Discount Rate | 21.18% | 23.22% | ||||
Maximum [Member] | Loan Servicing Rights [Member] | Measurement Input, Constant Prepayment Rate [Member] | ||||||
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Discount Rate | 17.72% | 14.43% | ||||
Minimum [Member] | Measurement Input, Discount Rate [Member] | ||||||
Other Real Estate Owned, Measurement Input | 15 | |||||
Minimum [Member] | Foreclosed Real Estate Held [Member] | Measurement Input, Discount Rate [Member] | ||||||
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Discount Rate | 15.00% | |||||
Minimum [Member] | Collateral [Member] | Measurement Input, Discount Rate [Member] | ||||||
Fair Value Inputs Discount Rate | 0.00% | |||||
Minimum [Member] | Impaired Loans [Member] | Measurement Input, Discount Rate [Member] | ||||||
Fair Value Inputs Discount Rate | 0.00% | |||||
Minimum [Member] | Loan Servicing Rights [Member] | Measurement Input, Discount Rate [Member] | ||||||
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Discount Rate | 8.41% | 10.84% | ||||
Minimum [Member] | Loan Servicing Rights [Member] | Measurement Input, Constant Prepayment Rate [Member] | ||||||
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Prepayment Speed | 5.55% | 4.32% | ||||
Weighted Average [Member] | Measurement Input, Discount Rate [Member] | ||||||
Other Real Estate Owned, Measurement Input | 28.7 | |||||
Weighted Average [Member] | Foreclosed Real Estate Held [Member] | Measurement Input, Discount Rate [Member] | ||||||
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Discount Rate | 48.90% | |||||
Weighted Average [Member] | Loan Servicing Rights [Member] | Measurement Input, Discount Rate [Member] | ||||||
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Discount Rate | 12.36% | 14.63% | ||||
Weighted Average [Member] | Loan Servicing Rights [Member] | Measurement Input, Constant Prepayment Rate [Member] | ||||||
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Prepayment Speed | 12.04% | 10.08% |
Employee Stock Ownership Plan (
Employee Stock Ownership Plan (Additional Information) (Detail) - $ / shares | Oct. 06, 2008 | Mar. 31, 2019 | Sep. 30, 2018 |
Total ESOP shares | 203,363 | 147,110 | 151,999 |
Employee Stock Ownership Plan (ESOP), Weighted Average Purchase Price of Shares Purchased | $ 10 |
Stock Based Compensation Plan_2
Stock Based Compensation Plans (Fair Value Of Options Granted) (Detail) | 6 Months Ended |
Mar. 31, 2019$ / shares | |
Expected dividend yield | 1.75% |
Risk-free interest rate | 2.13% |
Expected volatility | 14.60% |
Expected life of options | 0 years |
Weighted average fair value at grant date | $ 6.13 |
Stock Based Compensation Plan_3
Stock Based Compensation Plans (Stock Option Activity Under The Plan) (Detail) - USD ($) | 6 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Number of Shares | ||
Outstanding at beginning of period | 150,033 | |
Granted | 2,400 | |
Exercised | (61,484) | (42,296) |
Forfeited or expired | (750) | |
Outstanding at end of period | 90,199 | |
Vested and expected to vest | 90,199 | |
Exercisable at end of period | 50,872 | |
Weighted Average Exercise Price | ||
Outstanding at beginning of period | $ 24.88 | |
Granted | 59.23 | |
Exercised | 14.30 | |
Forfeited or expired | 40.09 | |
Outstanding at end of period | 32.88 | |
Vested and expected to vest | 32.88 | |
Exercisable at end of period | $ 22.90 | |
Weighted Average Remaining Contractual Term | ||
Outstanding of period | 5 years 4 months 24 days | |
Vested and expected to vest | 5 years 4 months 24 days | |
Exercisable at end of period | 3 years 4 months 24 days | |
Aggregate Intrinsic Value | ||
Outstanding at end of period | $ 2,001 | |
Vested and expected to vest | 2,001 | |
Exercisable at end of period | $ 1,586 |
Stock Based Compensation Plan_4
Stock Based Compensation Plans (Nonvested Restricted Shares) (Detail) - Restricted Stock [Member] | 6 Months Ended |
Mar. 31, 2019$ / sharesshares | |
Number of Shares | |
Nonvested at beginning of year | shares | 14,812 |
Granted | shares | 2,500 |
Vested | shares | (3,653) |
Forfeited | shares | (201) |
Nonvested at end of year | shares | 13,458 |
Weighted Average Grant Date Fair Value | |
Nonvested, Beginning Balance | $ / shares | $ 41.20 |
Granted | $ / shares | 59.23 |
Vested | $ / shares | 40.99 |
Forfeited | $ / shares | 40.09 |
Nonvested, Ending Balance | $ / shares | $ 44.62 |
Stock Based Compensation Plan_5
Stock Based Compensation Plans (Additional Information) (Detail) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2019 | Mar. 31, 2018 | |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 8,658 | 8,658 | ||
Fair value of restricted shares | $ 3,653 | $ 3,453 | ||
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Share-based Awards Other than Options | $ 211,000 | 211,000 | ||
Stock or Unit Option Plan Expense | $ 17,000 | $ 16,000 | $ 35,000 | 33,000 |
Employee Stock Ownership Plan (ESOP), Compensation Expense | $ 37,000 | 73,000 | ||
Equity Incentive Plan 2016 [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 88,000 | 88,000 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value | $ 100,000 | |||
Stock Option Plan 2016 [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 11,991 | 11,991 | ||
Employee Stock Option [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | $ 2.4 | |||
Employee Stock Option [Member] | Equity Incentive Plan 2016 [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 66,000 | 66,000 | ||
Restricted Stock [Member] | ||||
Fair value of restricted shares | $ 216,000 | $ 195,000 | ||
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Share-based Awards Other than Options | $ 534,000 | $ 534,000 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 4 years 7 months 6 days | |||
Employee Stock Ownership Plan (ESOP), Compensation Expense | $ 44,000 | $ 85,000 | ||
Restricted Stock [Member] | Equity Incentive Plan 2016 [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 22,000 | 22,000 | ||
Equity Option [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 10,555 | 10,555 | ||
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Period for Recognition | 4 years 7 months 6 days | |||
Equity Option [Member] | Restricted Stock [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 1,436 | 1,436 |
Derivative Financial Instrume_3
Derivative Financial Instruments (Provides Information On The Company's Derivative Financial Instruments) (Detail) - USD ($) $ in Thousands | Mar. 31, 2019 | Sep. 30, 2018 |
Notional Amount | $ 153,282 | $ 30,384 |
Asset Derivatives | 1,705 | 421 |
Liability Derivatives | 384 | 0 |
Interest Rate Lock Commitments [Member] | ||
Notional Amount | 89,782 | 16,634 |
Asset Derivatives | 1,705 | 380 |
Liability Derivatives | 0 | 0 |
Forward Mortgage Loan Sale Contracts [Member] | ||
Notional Amount | 63,500 | 13,750 |
Asset Derivatives | 0 | 41 |
Liability Derivatives | $ 384 | $ 0 |
Derivative Financial Instrume_4
Derivative Financial Instruments (Income (loss) Related To Derivative Financial Instruments Included In Mortgage Banking Income) (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2019 | Mar. 31, 2018 | |
Derivative, Gain (Loss) on Derivative, Net | $ 423 | $ 0 | $ 550 | $ 0 |
Interest Rate Lock Commitments [Member] | ||||
Derivative, Gain (Loss) on Derivative, Net | 1,047 | 0 | 1,325 | 0 |
Forward Mortgage Loan Sale Contracts [Member] | ||||
Derivative, Gain (Loss) on Derivative, Net | $ (624) | $ 0 | $ (775) | $ 0 |
Regulatory Capital (Bank's Actu
Regulatory Capital (Bank's Actual Capital Amounts And Ratios) (Detail) - USD ($) $ in Thousands | Mar. 31, 2019 | Sep. 30, 2018 |
Consolidated | ||
Total capital (to risk weighted assets) Actual Amount | $ 121,718 | $ 114,911 |
Tier 1 capital (to risk-weighted assets) Actual Amount | 92,089 | 85,927 |
Common equity tier 1 capital (to risk-weighted assets) Actual Amount | 92,089 | 85,927 |
Tier 1 capital (to average adjusted total assets) Actual Amount | $ 92,089 | $ 85,927 |
Total capital (to risk weighted assets) Actual Ratio | 14.12% | 14.50% |
Tier 1 capital (to risk-weighted assets) Actual Ratio | 10.68% | 10.84% |
Common equity tier 1 capital (to risk-weighted assets) Actual Ratio | 10.68% | 10.84% |
Tier 1 capital (to average adjusted total assets) Actual Ratio | 8.42% | 8.39% |
Total capital (to risk weighted assets) Minimum For Capital Adequacy Purposes Amount | $ 68,978 | $ 63,402 |
Tier 1 capital (to risk-weighted assets) Minimum For Capital Adequacy Purposes Amount | 51,733 | 47,551 |
Common equity tier 1 capital (to risk-weighted assets) Minimum For Capital Adequacy Purposes Amount | 38,800 | 35,663 |
Tier 1 capital (to average adjusted total assets) Minimum For Capital Adequacy Purposes Amount | $ 43,751 | $ 40,982 |
Total capital (to risk weighted assets) Minimum For Capital Adequacy Purposes Ratio | 8.00% | 8.00% |
Tier 1 capital (to risk-weighted assets) Minimum For Capital Adequacy Purposes Ratio | 6.00% | 6.00% |
Common equity tier 1 capital (to risk-weighted assets) Minimum For Capital Adequacy Purposes Ratio | 4.50% | 4.50% |
Tier 1 capital (to average adjusted total assets) Minimum For Capital Adequacy Purposes Ratio | 4.00% | 4.00% |
Bank | ||
Total capital (to risk weighted assets) Actual Amount | $ 111,468 | $ 102,281 |
Tier 1 capital (to risk-weighted assets) Actual Amount | 101,534 | 92,958 |
Common equity tier 1 capital (to risk-weighted assets) Actual Amount | 101,534 | 92,958 |
Tier 1 capital (to average adjusted total assets) Actual Amount | $ 101,534 | $ 92,958 |
Total capital (to risk weighted assets) Actual Ratio | 12.95% | 12.92% |
Tier 1 capital (to risk-weighted assets) Actual Ratio | 11.80% | 11.75% |
Common equity tier 1 capital (to risk-weighted assets) Actual Ratio | 11.80% | 11.75% |
Tier 1 capital (to average adjusted total assets) Actual Ratio | 9.31% | 9.10% |
Total capital (to risk weighted assets) Minimum For Capital Adequacy Purposes Amount | $ 68,854 | $ 63,312 |
Tier 1 capital (to risk-weighted assets) Minimum For Capital Adequacy Purposes Amount | 51,641 | 47,484 |
Common equity tier 1 capital (to risk-weighted assets) Minimum For Capital Adequacy Purposes Amount | 38,730 | 35,613 |
Tier 1 capital (to average adjusted total assets) Minimum For Capital Adequacy Purposes Amount | $ 43,623 | $ 40,840 |
Total capital (to risk weighted assets) Minimum For Capital Adequacy Purposes Ratio | 8.00% | 8.00% |
Tier 1 capital (to risk-weighted assets) Minimum For Capital Adequacy Purposes Ratio | 6.00% | 6.00% |
Common equity tier 1 capital (to risk-weighted assets) Minimum For Capital Adequacy Purposes Ratio | 4.50% | 4.50% |
Tier 1 capital (to average adjusted total assets) Minimum For Capital Adequacy Purposes Ratio | 4.00% | 4.00% |
Total capital (to risk weighted assets) Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions Amount | $ 86,068 | $ 79,140 |
Tier 1 capital (to risk-weighted assets) Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions Amount | 68,854 | 63,312 |
Common equity tier 1 capital (to risk-weighted assets) Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions Amount | 55,944 | 51,441 |
Tier 1 capital (to average adjusted total assets) Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions Amount | $ 54,529 | $ 51,050 |
Total capital (to risk weighted assets) Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio | 10.00% | 10.00% |
Tier 1 capital (to risk-weighted assets) Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio | 8.00% | 8.00% |
Common equity tier 1 capital (to risk-weighted assets) Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio | 6.50% | 6.50% |
Tier 1 capital (to average adjusted total assets) Minimum To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio | 5.00% | 5.00% |
Regulatory Capital (Additional
Regulatory Capital (Additional Information) (Detail) | Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2015 |
Capital Conservation Buffer, Percentage | 2.50% | 1.875% | 0.00% |
Scenario, Forecast [Member] | |||
Capital Conservation Buffer, Percentage | 2.50% |
Segment Reporting (Financial St
Segment Reporting (Financial Statements Information) (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2019 | Mar. 31, 2018 | |
Net interest income | $ 9,861 | $ 8,723 | $ 19,437 | $ 16,776 |
Net gains on sales of loans, SBA | 521 | 1,488 | 1,485 | 3,027 |
Mortgage banking income | 5,074 | 53 | 8,363 | 168 |
Noncash items: | ||||
Provision for loan losses | 340 | 371 | 655 | 833 |
Depreciation and amortization | 376 | 334 | 860 | 634 |
Income tax expense (benefit) | 466 | 338 | 988 | 960 |
Segment profit (loss) | 3,264 | 2,222 | 6,368 | 5,715 |
Segment assets | 1,129,722 | 1,008,554 | 1,129,722 | 1,008,554 |
Core Banking Segment [Member] | ||||
Net interest income | 9,043 | 7,975 | 17,863 | 15,494 |
Net gains on sales of loans, SBA | 0 | 0 | 0 | 0 |
Mortgage banking income | 3 | 53 | 30 | 168 |
Noncash items: | ||||
Provision for loan losses | (492) | 256 | (508) | (138) |
Depreciation and amortization | 323 | 321 | 759 | 608 |
Income tax expense (benefit) | 694 | 323 | 1,319 | 978 |
Segment profit (loss) | 3,185 | 1,230 | 6,165 | 4,417 |
Segment assets | 1,093,766 | 1,001,206 | 1,093,766 | 1,001,206 |
SBA Lending Segment [Member] | ||||
Net interest income | 934 | 741 | 1,842 | 1,268 |
Net gains on sales of loans, SBA | 521 | 1,488 | 1,485 | 3,027 |
Mortgage banking income | 0 | 0 | 0 | 0 |
Noncash items: | ||||
Provision for loan losses | 832 | 115 | 1,163 | 971 |
Depreciation and amortization | 12 | 13 | 24 | 26 |
Income tax expense (benefit) | (70) | 171 | (25) | 203 |
Segment profit (loss) | (477) | 1,004 | (170) | 1,190 |
Segment assets | 80,521 | 58,690 | 80,521 | 58,690 |
Mortgage Banking Segment [Member] | ||||
Net interest income | 187 | 0 | 341 | 0 |
Net gains on sales of loans, SBA | 0 | 0 | 0 | 0 |
Mortgage banking income | 5,071 | 0 | 8,333 | 0 |
Noncash items: | ||||
Provision for loan losses | 0 | 0 | 0 | |
Depreciation and amortization | 23 | 0 | 43 | 0 |
Income tax expense (benefit) | 176 | 0 | 163 | 0 |
Segment profit (loss) | 528 | 0 | 491 | 0 |
Segment assets | 27,346 | 0 | 27,346 | 0 |
Other Segment [Member] | ||||
Net interest income | (309) | 7 | (609) | 14 |
Net gains on sales of loans, SBA | 0 | 0 | 0 | 0 |
Mortgage banking income | 0 | 0 | 0 | 0 |
Noncash items: | ||||
Provision for loan losses | 0 | 0 | 0 | 0 |
Depreciation and amortization | 18 | 0 | 34 | 0 |
Income tax expense (benefit) | (334) | (156) | (469) | (221) |
Segment profit (loss) | 28 | (12) | (118) | 108 |
Segment assets | $ (71,911) | $ (51,342) | $ (71,911) | $ (51,342) |
Revenue from Contracts with C_3
Revenue from Contracts with Customers (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2019 | Mar. 31, 2018 | |
Revenue from contracts with customers | $ 1,015 | $ 826 | $ 2,073 | $ 1,730 |
Gain (loss) on sale of securities | 1 | (59) | 1 | 91 |
Gain on sale of SBA loans | 521 | 1,488 | 1,485 | 3,027 |
Mortgage banking income | 5,074 | 53 | 8,363 | 168 |
Increase in cash value of life insurance | 147 | 106 | 258 | 213 |
Real estate lease income | 157 | 1 | 315 | 1 |
Other | 174 | 152 | 375 | 243 |
Other noninterest income | 6,074 | 1,741 | 10,797 | 3,743 |
Total noninterest income | 7,089 | 2,567 | 12,870 | 5,473 |
Service charges on deposit accounts | ||||
Revenue from contracts with customers | 449 | 399 | 960 | 776 |
ATM and interchange fees | ||||
Revenue from contracts with customers | 446 | 299 | 899 | 662 |
Investment advisory income | ||||
Revenue from contracts with customers | 77 | 98 | 134 | 226 |
Other | ||||
Revenue from contracts with customers | $ 43 | $ 30 | $ 80 | $ 66 |