Document and Entity Information
Document and Entity Information - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Mar. 04, 2016 | Jun. 30, 2015 | |
Document And Entity Information [Abstract] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Dec. 31, 2015 | ||
Document Fiscal Year Focus | 2,015 | ||
Document Fiscal Period Focus | FY | ||
Trading Symbol | HBCP | ||
Entity Registrant Name | HOME BANCORP, INC. | ||
Entity Central Index Key | 1,436,425 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Filer Category | Accelerated Filer | ||
Entity Common Stock, Shares Outstanding | 7,256,521 | ||
Entity Public Float | $ 142.9 |
Consolidated Statements of Fina
Consolidated Statements of Financial Condition - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 | |
Assets | |||
Cash and cash equivalents | $ 24,797,599 | $ 29,077,907 | |
Interest-bearing deposits in banks | 5,143,585 | 5,526,000 | |
Investment securities available for sale, at fair value | 176,762,200 | 174,800,516 | |
Investment securities held to maturity (fair values of $14,120,842 and $11,889,335, respectively) | 13,926,861 | 11,705,470 | |
Mortgage loans held for sale | 5,651,250 | 4,516,835 | |
Loans, net of unearned income | 1,224,365,916 | 908,967,871 | |
Allowance for loan losses | (9,547,487) | (7,759,500) | |
Total loans, net of unearned income and allowance for loan losses | 1,214,818,429 | 901,208,371 | |
Office properties and equipment, net | 40,815,744 | 37,964,714 | |
Cash surrender value of bank-owned life insurance | 19,666,900 | 19,163,110 | |
Accrued interest receivable and other assets | 50,329,032 | 37,451,687 | |
Total Assets | 1,551,911,600 | 1,221,414,610 | |
Deposits: | |||
Noninterest-bearing | 296,616,693 | 267,660,145 | |
Interest-bearing | 947,599,823 | 725,912,448 | |
Total deposits | 1,244,216,516 | 993,572,593 | |
Short-term Federal Home Loan Bank advances | 39,939,375 | 31,000,000 | |
Long-term Federal Home Loan Bank advances | 85,213,222 | 16,500,000 | |
Securities sold under repurchase agreements | 20,370,892 | ||
Accrued interest payable and other liabilities | 17,496,133 | 5,827,369 | |
Total Liabilities | $ 1,386,865,246 | $ 1,067,270,854 | |
Shareholders' Equity | |||
Preferred stock, $0.01 par value - 10,000,000 shares authorized; none issued | |||
Common stock, $0.01 par value - 40,000,000 shares authorized; 7,239,821 and 9,008,745 shares issued; 7,239,821 and 7,123,442 shares outstanding, respectively | [1] | $ 72,399 | $ 90,088 |
Additional paid-in capital | [1] | 76,948,914 | 93,332,108 |
Treasury stock at cost - 0 and 1,885,303 shares, respectively | [1] | (28,572,891) | |
Unallocated common stock held by: | |||
Employee Stock Ownership Plan (ESOP) | (4,552,670) | (4,909,750) | |
Recognition and Retention Plan (RRP) | (158,590) | (202,590) | |
Retained earnings | 91,864,543 | 93,101,915 | |
Accumulated other comprehensive income | 871,758 | 1,304,876 | |
Total Shareholders' Equity | 165,046,354 | 154,143,756 | |
Total Liabilities and Shareholders' Equity | $ 1,551,911,600 | $ 1,221,414,610 | |
[1] | See Note 2 for details on the Louisiana Business Corporation Act. |
Consolidated Statements of Fin3
Consolidated Statements of Financial Condition (Parenthetical) - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 |
Statement of Financial Position [Abstract] | ||
Investment securities held to maturity, fair value | $ 14,120,842 | $ 11,889,335 |
Preferred stock, par value | $ 0.01 | $ 0.01 |
Preferred stock, shares authorized | 10,000,000 | 10,000,000 |
Preferred stock, shares issued | 0 | 0 |
Common stock, par value | $ 0.01 | $ 0.01 |
Common stock, shares authorized | 40,000,000 | 40,000,000 |
Common stock, shares issued | 7,239,821 | 9,008,745 |
Common stock, shares outstanding | 7,239,821 | 7,123,442 |
Treasury stock, shares | 0 | 1,885,303 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Interest Income | |||
Loans, including fees | $ 54,466,025 | $ 50,273,076 | $ 40,535,633 |
Investment securities: | |||
Taxable interest | 3,031,381 | 3,146,187 | 2,557,614 |
Tax-exempt interest | 712,602 | 740,333 | 502,907 |
Other investments and deposits | 199,646 | 162,965 | 124,355 |
Total interest income | 58,409,654 | 54,322,561 | 43,720,509 |
Interest Expense | |||
Deposits | 3,072,725 | 2,742,106 | 3,043,982 |
Securities sold under repurchase agreements | 39,126 | 72,986 | |
Short-term Federal Home Loan Bank advances | 51,406 | 125,021 | 46,716 |
Long-term Federal Home Loan Bank advances | 702,136 | 343,306 | 412,210 |
Total interest expense | 3,865,393 | 3,283,419 | 3,502,908 |
Net interest income | 54,544,261 | 51,039,142 | 40,217,601 |
Provision for loan losses | 2,070,894 | 2,364,358 | 3,652,694 |
Net interest income after provision for loan losses | 52,473,367 | 48,674,784 | 36,564,907 |
Noninterest Income | |||
Service fees and charges | 3,937,797 | 3,746,580 | 2,729,469 |
Bank card fees | 2,413,459 | 2,178,194 | 1,730,960 |
Gain on sale of loans, net | 1,527,721 | 1,212,157 | 1,553,598 |
Income from bank-owned life insurance | 503,790 | 458,163 | 464,170 |
Gain on sale of securities, net | 7,279 | 1,826 | 428,200 |
Other income | 379,473 | 577,858 | 763,452 |
Total noninterest income | 8,769,519 | 8,174,778 | 7,669,849 |
Noninterest Expense | |||
Compensation and benefits | 25,035,862 | 24,386,501 | 20,329,834 |
Occupancy | 4,875,945 | 4,670,318 | 3,524,567 |
Marketing and advertising | 486,341 | 919,483 | 766,388 |
Data processing and communication | 4,044,553 | 4,430,519 | 2,441,796 |
Professional services | 1,755,286 | 1,159,814 | 1,060,656 |
Forms, printing and supplies | 596,748 | 662,074 | 429,888 |
Franchise and shares tax | 650,461 | 574,060 | 710,775 |
Regulatory fees | 1,122,254 | 1,066,999 | 889,967 |
Foreclosed assets, net | 443,228 | 996,633 | 522,903 |
Other expenses | 3,011,748 | 2,905,191 | 2,527,922 |
Total noninterest expense | 42,022,426 | 41,771,592 | 33,204,696 |
Income before income tax expense | 19,220,460 | 15,077,970 | 11,030,060 |
Income tax expense | 6,670,559 | 5,206,383 | 3,736,138 |
Net Income | $ 12,549,901 | $ 9,871,587 | $ 7,293,922 |
Earnings per share: | |||
Basic | $ 1.87 | $ 1.51 | $ 1.11 |
Diluted | 1.79 | 1.42 | $ 1.06 |
Cash dividends declared per common share | $ 0.30 | $ 0.07 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Amounts Reclassified Out Of Accumulated Other Comprehensive Income Loss [Abstract] | |||
Net income | $ 12,549,901 | $ 9,871,587 | $ 7,293,922 |
Other Comprehensive (Loss) Income | |||
Unrealized (losses) gains on investment securities | (659,057) | 1,709,151 | (4,177,585) |
Reclassification adjustment for gains included in net income | (7,279) | (1,826) | (428,200) |
Tax effect | 233,218 | (597,564) | 1,562,965 |
Other comprehensive (loss) income, net of taxes | (433,118) | 1,109,761 | (3,042,820) |
Comprehensive Income | $ 12,116,783 | $ 10,981,348 | $ 4,251,102 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders' Equity - USD ($) | Total | Common Stock [Member] | Additional Paid-in Capital [Member] | Treasury Stock [Member] | Unallocated Common Stock Held by ESOP [Member] | Unallocated Common Stock Held by RRP [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | |
Beginning Balance at Dec. 31, 2012 | $ 141,573,860 | $ 89,506 | $ 90,986,820 | $ (21,719,954) | $ (5,623,910) | $ (1,831,759) | $ 76,435,222 | $ 3,237,935 | |
Net income | 7,293,922 | 7,293,922 | |||||||
Other comprehensive income | (3,042,820) | (3,042,820) | |||||||
Purchase of Company's common stock at cost, 347,713 shares, 26,222 shares, 155,218 shares | (6,291,444) | (6,291,444) | |||||||
Exercise of stock options | 91,105 | 79 | 91,026 | ||||||
RRP shares released for allocation | 158,089 | (655,173) | 813,262 | ||||||
ESOP shares released for allocation | 652,760 | 295,680 | 357,080 | ||||||
Share-based compensation cost | 1,474,057 | 1,474,057 | |||||||
Ending Balance at Dec. 31, 2013 | 141,909,529 | 89,585 | 92,192,410 | (28,011,398) | (5,266,830) | (1,018,497) | 83,729,144 | 195,115 | |
Net income | 9,871,587 | 9,871,587 | |||||||
Other comprehensive income | 1,109,761 | 1,109,761 | |||||||
Purchase of Company's common stock at cost, 347,713 shares, 26,222 shares, 155,218 shares | (561,493) | (561,493) | |||||||
Cash dividends declared, $0.07 per share, $0.30 per share | (498,816) | (498,816) | |||||||
Exercise of stock options | 581,088 | 503 | 580,585 | ||||||
RRP shares released for allocation | 231,892 | (584,015) | 815,907 | ||||||
ESOP shares released for allocation | 804,576 | 447,496 | 357,080 | ||||||
Share-based compensation cost | 695,632 | 695,632 | |||||||
Ending Balance at Dec. 31, 2014 | 154,143,756 | 90,088 | 93,332,108 | (28,572,891) | (4,909,750) | (202,590) | 93,101,915 | 1,304,876 | |
Net income | 12,549,901 | 12,549,901 | |||||||
Other comprehensive income | (433,118) | (433,118) | |||||||
Purchase of Company's common stock at cost, 347,713 shares, 26,222 shares, 155,218 shares | (3,465,959) | (3,465,959) | |||||||
Reclassification of treasury stock per Louisiana law | [1] | (20,405) | (20,393,258) | $ 32,038,850 | (11,625,187) | ||||
Cash dividends declared, $0.07 per share, $0.30 per share | (2,162,086) | (2,162,086) | |||||||
Exercise of stock options | 3,282,197 | 2,716 | 3,279,481 | ||||||
RRP shares released for allocation | 11,894 | (32,106) | 44,000 | ||||||
ESOP shares released for allocation | 998,656 | 641,576 | 357,080 | ||||||
Share-based compensation cost | 121,113 | 121,113 | |||||||
Ending Balance at Dec. 31, 2015 | $ 165,046,354 | $ 72,399 | $ 76,948,914 | $ (4,552,670) | $ (158,590) | $ 91,864,543 | $ 871,758 | ||
[1] | See Note 1 for details on the Louisiana Business Corporation Act. |
Consolidated Statements of Cha7
Consolidated Statements of Changes in Shareholders' Equity (Parenthetical) - $ / shares | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Purchase of Company's common stock at cost, shares | 155,218 | 26,222 | 347,713 |
Cash dividends declared, per share | $ 0.30 | $ 0.07 | |
Treasury Stock [Member] | |||
Purchase of Company's common stock at cost, shares | 155,218 | 26,222 | 347,713 |
Retained Earnings [Member] | |||
Cash dividends declared, per share | $ 0.30 | $ 0.07 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Cash flows from operating activities, net of effects of acquisitions: | |||
Net income | $ 12,549,901 | $ 9,871,587 | $ 7,293,922 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Provision for loan losses | 2,070,894 | 2,364,358 | 3,652,694 |
Depreciation | 1,807,480 | 1,737,579 | 1,420,986 |
Amortization of purchase accounting valuations and intangibles | 4,045,736 | 8,650,398 | 1,500,774 |
Net amortization of mortgage servicing asset | 180,364 | 160,071 | 195,938 |
Federal Home Loan Bank stock dividends | (12,800) | (18,800) | (9,300) |
Net amortization of discount on investments | 1,530,144 | 1,327,352 | 1,085,587 |
Gain on sale of investment securities, net | (7,279) | (1,826) | (428,200) |
Gain on loans sold, net | (1,527,721) | (1,212,157) | (1,553,598) |
Proceeds, including principal payments, from loans held for sale | 153,954,728 | 113,074,911 | 83,134,006 |
Originations of loans held for sale | (153,561,422) | (112,793,674) | (78,005,929) |
Non-cash compensation | 1,119,769 | 1,451,883 | 2,126,817 |
Deferred income tax expense (benefit) | 630,864 | 516,456 | (1,265,038) |
Decrease in accrued interest receivable and other assets | 8,905,751 | 7,688,608 | 2,187,267 |
Increase in cash surrender value of bank-owned life insurance | (503,790) | (458,163) | (464,170) |
Decrease (increase) in accrued interest payable and other liabilities | 4,982,769 | (4,458,388) | 403,640 |
Net cash provided by operating activities | 36,165,388 | 27,900,195 | 21,275,396 |
Cash flows from investing activities, net of effects of acquisitions: | |||
Purchases of securities available for sale | (18,713,312) | (22,810,016) | (34,548,121) |
Purchases of securities held to maturity | (2,927,988) | (3,000,747) | (8,383,189) |
Proceeds from maturities, prepayments and calls on securities available for sale | 30,094,652 | 29,337,106 | 29,285,461 |
Proceeds from maturities, prepayments and calls on securities held to maturity | 400,000 | 466,470 | 561,882 |
Proceeds from sales on securities available for sale | 21,194,622 | 66,905,382 | 7,704,863 |
Increase in loans, net | (41,104,084) | (57,637,109) | (42,046,336) |
Reimbursement from FDIC for covered assets | 403,865 | 837,396 | 1,463,468 |
Decrease in interest-bearing deposits in banks | 863,700 | 1,237,000 | 589,000 |
Proceeds from sale of repossessed assets | 5,378,286 | 6,771,868 | 5,926,909 |
Purchases of office properties and equipment | (828,723) | (3,304,837) | (1,346,437) |
Proceeds from sale of office properties and equipment | 2,016,239 | 60,480 | |
Net cash disbursed in business combinations | (56,404,340) | (22,995,649) | |
Purchases of Federal Home Loan Bank stock | (4,751,000) | (3,024,600) | (4,007,100) |
Proceeds from redemption of Federal Home Loan Bank stock | 2,444,900 | 5,360,300 | 1,926,300 |
Net cash used in investing activities | (61,933,183) | (1,796,956) | (42,873,300) |
Cash flows from financing activities, net of effects of acquisitions: | |||
Increase (decrease) in deposits | 42,055,227 | 35,778,663 | (30,043,203) |
Borrowings on Federal Home Loan Bank advances | 4,931,772,337 | 13,972,850,000 | 2,090,900,000 |
Repayments of Federal Home Loan Bank advances | (4,929,994,229) | (14,031,499,000) | (2,039,959,020) |
Decrease in securitites sold under repurchase agreements | (20,000,000) | (6,314,674) | |
Proceeds from exercise of stock options | 3,282,197 | 581,088 | 91,105 |
Dividends paid to shareholders | (2,162,086) | (498,816) | |
Purchase of Company's common stock | (3,465,959) | (561,493) | (6,291,444) |
Net cash provided (used in) by financing activities | 21,487,487 | (29,664,232) | 14,697,438 |
Net change in cash and cash equivalents | (4,280,308) | (3,560,993) | (6,900,466) |
Cash and cash equivalents at beginning of year | 29,077,907 | 32,638,900 | 39,539,366 |
Cash and cash equivalents at end of year | 24,797,599 | 29,077,907 | 32,638,900 |
Supplementary cash flow information: | |||
Interest paid on deposits and borrowed funds | 3,844,807 | 3,524,374 | 3,377,227 |
Income taxes paid | 3,702,500 | 5,140,000 | 3,025,000 |
Noncash investing and financing activities: | |||
Transfer of loans to repossessed assets | 3,073,326 | 8,062,009 | $ 4,824,784 |
Assets acquired and liabilities assumed in acquisitions: | |||
Assets acquired in acquisitions | 351,138,388 | 298,929,990 | |
Liabilities assumed in acquisitions | $ 291,313,436 | $ 264,457,929 |
Description of Business
Description of Business | 12 Months Ended |
Dec. 31, 2015 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Description of Business | 1. Description of Business Home Bancorp, Inc., a Louisiana Corporation (“Company”), was organized by Home Bank (a federally chartered savings bank and the predecessor of Home Bank, N.A.) (“Bank”) in May 2008 to facilitate the conversion of the Bank from the mutual to the stock form (“Conversion”) of ownership. The Conversion was completed on October 2, 2008, at which time the Company became the holding company for the Bank, with the Company owning all of the issued and outstanding shares of the Bank’s common stock. Shares of the Company’s common stock were issued and sold in an offering to certain depositors of the Bank. The Company and Bank are headquartered in Lafayette, Louisiana. As of December 31, 2015, the Company was a bank holding company. As of December 31, 2015, Home Bank N.A. was a nationally chartered bank. The Bank was originally chartered in 1908 as a Louisiana state chartered savings association. The Bank converted to a federal mutual savings bank charter in 1993. In 2010, the Bank expanded into the Northshore (of Lake Pontchartrain) through a Federal Deposit Insurance Corporation (“FDIC”) assisted acquisition of certain assets and liabilities of the former Statewide Bank (“Statewide”). In July 2011, the Bank expanded into the Greater New Orleans region through its acquisition of GS Financial Corporation (“GSFC”), the former holding company of Guaranty Savings Bank (“Guaranty”). In February 2014, the Bank expanded into west Mississippi through its acquisition of Britton & Koontz Capital Corporation (“Britton & Koontz”), the holding company for Britton & Koontz Bank, N.A. (“Britton & Koontz Bank”) of Natchez, Mississippi. In September 2015, the Bank expanded its existing presence in the Greater New Orleans region through the acquisition of Louisiana Bancorp, Inc. (“Louisiana Bancorp”), the former holding company of Bank of New Orleans (“BNO”) of Metairie, Louisiana. As of December 31, 2015, the Bank conducts business from 30 banking offices in the Greater Lafayette, Northshore, Baton Rouge and Greater New Orleans regions of south Louisiana and west Mississippi. The Bank is primarily engaged in attracting deposits from the general public and using those funds to invest in loans and investment securities. The Bank’s principal sources of funds are customer deposits, repayments of loans, repayments of investments and funds borrowed from outside sources such as the Federal Home Loan Bank (“FHLB”) of Dallas. The Bank derives its income principally from interest earned on loans and investment securities and, to a lesser extent, from fees received in connection with the origination of loans, service charges on deposit accounts and for other services. The Bank’s primary expenses are interest expense on deposits and borrowings and general operating expenses. The Bank is regulated by the Office of the Comptroller of the Currency (“OCC”) and its deposits are insured to the maximum amount permissible under federal law by the FDIC. In July 2010, the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank Act”) was passed by Congress. The act, among other things, imposed new restrictions and an expanded framework of regulatory oversight for financial institutions and their holding companies, including the Bank and the Company. The law also created the Consumer Financial Protection Bureau (“CFPB”) that has the authority to promulgate rules intended to protect consumers in the financial products and services market. Because many of the regulations under the new law have not been promulgated, we cannot determine the full impact on our business and operations at this time. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2015 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | 2. Summary of Significant Accounting Policies Principles of Consolidation The consolidated financial statements include the accounts of the Company and the Bank. All significant intercompany balances and transactions have been eliminated in consolidation. Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles in the United States (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near term include, but are not limited to, the determination of the allowance for loan losses, income taxes, valuation of investments with other-than-temporary impairment, acquisition accounting valuations and valuation of share-based compensation. Cash and Cash Equivalents For purposes of reporting cash flows, cash and cash equivalents include cash on hand, due from banks and interest-bearing deposits with the FHLB. The Company considers all highly liquid debt instruments with original maturities of three months or less (excluding interest-bearing deposits in banks) to be cash equivalents. The Bank is required to maintain cash reserves with the Federal Reserve Bank. The requirement is dependent upon the Bank’s cash on hand or noninterest-bearing balances. There was no reserve requirement as of December 31, 2015. The reserve requirement as of December 31, 2014 was $6,742,000 and the Bank was in compliance at such date. Investment Securities The Company follows the guidance under the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 320, Investments – Debt and Equity Securities Investment securities that are acquired with the intention of being resold in the near term are classified as trading securities under ASC 320 and are carried at fair value, with unrealized holding gains and losses recognized in current earnings. The Company did not hold any securities for trading purposes at, or during the years ended, December 31, 2015 or 2014. Securities not meeting the criteria of either trading securities or held to maturity are classified as available for sale and are carried at fair value. Unrealized holding gains and losses for these securities are recognized, net of related income tax effects in the Consolidated Statements of Comprehensive Income. Interest income earned on securities either held to maturity or available for sale is included in current earnings, including the amortization of premiums and the accretion of discounts using the interest method. Premiums and discounts are amortized or accreted over the life of the related security as an adjustment to the yield. The gain or loss realized on the sale of securities classified as available for sale or held to maturity, as determined using the specific identification method for determining the cost of the securities sold, is computed with reference to its amortized cost and is also included in current earnings. The Company reviews investment securities for other-than-temporary impairment quarterly. Impairment is considered to be other-than-temporary if it is likely that all amounts contractually due will not be received for debt securities and when there is no positive evidence indicating that an investment’s carrying amount is recoverable in the near term for equity securities. When a decline in the fair value of available for sale and held to maturity securities below cost is deemed to be credit related, a charge for other-than-temporary impairment is included in earnings as “Other-than-temporary impairment of securities”. The decline in fair value attributed to non-credit related factors is recognized in other comprehensive income and a new cost basis for the security is established. The new cost basis is not changed for subsequent recoveries in fair value. Increases and decreases between fair value and cost on available for sale securities are reflected in the Consolidated Statements of Comprehensive Income. In evaluating whether impairment is temporary or other-than-temporary, the Company considers, among other things, the time period the security has been in an unrealized loss position; the financial condition of the issuer and its industry; recommendations of investment advisors; economic forecasts; market or industry trends; changes in tax laws, regulations, or other governmental policies significantly affecting the issuer; any downgrades from rating agencies; and any reduction or elimination of dividends. The Company’s intent and ability to hold a security for a period of time sufficient to allow for any anticipated recovery in fair value is also considered. Loans Held for Sale The Company sells mortgage loans and loan participations for an amount equal to the principal amount of loans or participations with yields to investors based upon current market rates. Realized gains and losses related to loan sales are included in noninterest income. The Company allocates the cost to acquire or originate a mortgage loan between the loan and the right to service the loan if it intends to sell or securitize the loan and retain servicing rights. In addition, the Company periodically assesses capitalized mortgage servicing rights for impairment based on the fair value of such rights. To the extent that temporary impairment exists, write-downs are recognized in current earnings as an adjustment to the corresponding valuation allowance. Permanent impairment is recognized through a write-down of the asset with a corresponding reduction in the valuation allowance. For purposes of performing its impairment evaluation, the portfolio is stratified on the basis of certain risk characteristics, including loan type and interest rates. Capitalized servicing rights are amortized over the period of, and in proportion to, estimated net servicing income, which considers appropriate prepayment assumptions. For financial reporting purposes, the Company classifies a portion of its loans as “Mortgage loans held for sale.” Included in this category are loans which the Company has the current intent to sell and loans which are available to be sold in the event that the Company determines that loans should be sold to support the Company’s investment and liquidity objectives, as well as to support its overall asset and liability management strategies. Loans included in this category for which the Company has the current intention to sell are recorded at the lower of aggregate cost or fair value. As of December 31, 2015 and 2014, the Company had $5,651,000 and $4,517,000, respectively, in loans classified as “Mortgage loans held for sale.” As of December 31, 2015 and 2014 the Company had $226,379,000 and $103,447,000, respectively, outstanding in loans sold to government agencies that it was servicing through a third party. Loans The following briefly describes the distinction between originated and acquired loans and certain significant accounting policies relevant to each category. Originated Loans Loans are carried net of discounts on loan originations are amortized using the level yield interest method over the remaining contractual life of the loan. Nonrefundable loan origination fees, net of direct loan origination costs, are deferred and recognized over the life of the loan as an adjustment of yield using the interest method. Interest on loans receivable is accrued as earned using the interest method over the life of the loan. Interest on loans deemed uncollectible is excluded from income. The accrual of interest is discontinued and reversed against current income once loans become more than 90 days past due or earlier if conditions warrant. The past due status of loans is determined based on the contractual terms. When a loan is placed on nonaccrual status, previously accrued and uncollected interest is charged against interest income on loans. Interest payments are applied to reduce the principal balance on nonaccrual loans. Loans are returned to accrual status when all past due payments are received in full and future payments are probable. Third party property valuations are obtained at the time of origination for real estate secured loans. When a determination is made that a loan has deteriorated to the point of being deemed a criticized or classified loan, updated valuations may be ordered to help determine if there is impairment, which may lead to a recommendation for partial charge off or appropriate allowance allocation. Property valuations are ordered through, and reviewed by, the Company’s Appraisal and Review Department. The Company typically orders an “as is” valuation for collateral property if the loan is in a criticized loan classification. Loans, or portions of loans, are charged off in the period that such loans, or portions thereof, are deemed uncollectible. The collectability of individual loans is determined through an estimate of the fair value of the underlying collateral and/or assessment of the financial condition and repayment capacity of the borrower. Acquired Loans Acquired loans at December 31, 2015 and 2014 are those associated with our acquisition of Statewide, GSFC, Britton & Koontz and Louisiana Bancorp. These loans were recorded at estimated fair value at the acquisition date with no carryover of the related allowance for loan losses. The acquired loans were segregated between those considered to be performing (“acquired performing”) and those with evidence of credit deterioration (“acquired impaired”), and then further segregated into loan pools designed to facilitate the development of expected cash flows. The fair value estimate for each pool of acquired performing and acquired impaired loans was based on the estimate of expected cash flows, both principal and interest, from that pool, discounted at prevailing market interest rates. The difference between the fair value of an acquired performing loan pool and the contractual amounts due at the acquisition date (the “fair value discount”) is accreted into income over the estimated life of the pool. Management estimates an allowance for loan losses for acquired performing loans using a methodology similar to that used for originated loans. The allowance determined for each loan pool is compared to the remaining fair value discount for that pool. If the allowance amount calculated under the Company’s methodology is greater than the Company’s remaining discount, the additional amount called for is added to the reported allowance through a provision for loan losses. If the allowance amount calculated under the Company’s methodology is less than the Company’s recorded discount, no additional allowance or provision is recognized. Actual losses first reduce any remaining fair value discount for the loan pool. Once the discount is fully depleted, losses are applied against the allowance established for that pool. Acquired performing loans are placed on nonaccrual status and considered and reported as nonperforming or past due using the same criteria applied to the originated portfolio. The excess of cash flows expected to be collected from an acquired impaired loan pool over the pool’s estimated fair value at acquisition is referred to as the accretable yield and is recognized in interest income using an effective yield method over the remaining life of the pool. Each pool of acquired impaired loans is accounted for as a single asset with a single composite interest rate and an aggregate expectation of cash flows. Management recasts the estimate of cash flows expected to be collected on each acquired impaired loan pool periodically. If the present value of expected cash flows for a pool is less than its carrying value, an impairment is recognized by an increase in the allowance for loan losses and a charge to the provision for loan losses. If the present value of expected cash flows for a pool is greater than its carrying value, any previously established allowance for loan losses is reversed and any remaining difference increases the accretable yield which will be taken into interest income over the remaining life of the loan pool. Acquired impaired loans are generally not subject to individual evaluation for impairment and are not reported with impaired loans, even if they would otherwise qualify for such treatment. Certain loans purchased in the Statewide acquisition are covered by loss sharing agreements between the FDIC and the Company. Historically, the Company has referred to loans subject to loss share agreements with the FDIC as “covered loans.” However, in March 2015, a significant portion of the loss share agreements had expired and any future losses on these formerly covered loans are no longer eligible for reimbursement from the FDIC. As of December 31, 2015, only residential mortgage loans acquired from Statewide remained subject to loss sharing agreements with the FDIC. The Company’s remaining loans subject to loss sharing agreements with the FDIC amounted to approximately $3.7 million, or less than 0.2% of the Company’s total loan portfolio, at such date. Given the limited amount of covered loans remaining, the Company is no longer reporting such loans as “covered loans,” and they are included in “acquired loans.” Allowance for Loan Losses The allowance for loan losses on loans in our portfolio is maintained at an amount which management believes covers the reasonably estimable and probable losses on such portfolio. The allowance for loan losses is comprised of specific and general reserves. The Company determines specific reserves based on the provisions of ASC 310, Receivables While management uses available information to make loan loss allowance evaluations, adjustments to the allowance may be necessary based on changes in economic and other conditions or changes in accounting guidance. The OCC, as an integral part of its examination processes, periodically reviews the allowance for loan losses. The OCC may require the recognition of adjustments to the allowance for loan losses based on their judgment of information available to them as of the time of their examinations. To the extent the OCC’s estimates differ from management’s estimates, additional provisions to the allowance for loan losses may be required as of the time of their examination. As part of the risk management program, an independent review is performed on the loan portfolio, which supplements management’s assessment of the loan portfolio and the allowance for loan losses. The result of the independent review is reported directly to the Audit Committee of the Board of Directors. Repossessed Assets Repossessed assets are recorded at fair value less estimated selling costs at the date acquired or upon receiving new property valuations. Costs relating to the development and improvement of foreclosed property are capitalized, and costs relating to holding and maintaining the property are expensed. Write-downs from cost to fair value at the date s Federal Home Loan Bank Stock As a member of the FHLB, the Bank is required to maintain a minimum investment in its stock that varies with the level of FHLB advances outstanding. The stock is bought from and sold to the FHLB based upon its $100 par value. The stock does not have a readily determinable fair value and as such is classified as restricted stock, carried at cost and evaluated for impairment in accordance with GAAP. The stock’s value is determined by the ultimate recoverability of the par value rather than by recognizing temporary declines. The determination of whether the par value will ultimately be recovered is influenced by criteria such as: (a) the significance of the decline in net assets of the FHLB as compared to the capital stock amount and the length of time this situation has persisted, (b) commitments by the FHLB to make payments required by law or regulation and the level of such payments in relation to the operating performance, (c) the impact of legislative and regulatory changes on the customer base of the FHLB and (d) the liquidity position of the FHLB. Office Properties and Equipment Office properties and equipment are stated at cost less accumulated depreciation. Depreciation is computed using the straight-line method with rates based on the estimated useful lives of the individual assets, which range from 3 to 40 years. Expenditures which substantially increase the useful lives of existing property and equipment are capitalized while routine expenditures for repairs and maintenance are expensed as incurred. Cash Surrender Value of Bank-owned Life Insurance Life insurance contracts represent single premium life insurance contracts on the lives of certain officers of the Bank. The Bank is the beneficiary of these policies. These contracts are reported at their cash surrender value and changes in the cash surrender value are included in noninterest income. Intangible Assets Intangible assets consist of goodwill, core deposit intangibles and mortgage servicing rights. These assets are recorded in accrued interest receivable and other assets on the Consolidated Statements of Financial Condition. Goodwill represents the excess purchase price over the fair value of net assets acquired in business acquisitions. Goodwill is not amortized but rather is evaluated for impairment at least annually. Core deposit intangibles represent the estimated value related to customer deposit relationships assumed in the Company’s acquisitions. Core deposit intangibles are being amortized over nine to 15 years. The mortgage servicing rights represent servicing assets related to mortgage loans sold and serviced at fair value. Mortgage servicing rights are being amortized over a maximum of 10 years using an accelerated method. Shareholders’ Equity Effective January 1, 2015, companies incorporated under Louisiana law became subject to the Louisiana Business Corporation Act. Provisions of the Louisiana Business Corporation Act eliminate the concept of treasury stock and provide that shares reacquired by a company are to be treated as authorized but unissued shares. Accounting principles generally accepted in the United States of America state that accounting for treasury stock shall conform to state law. The Company’s Consolidated Financial Statements at and for the year ended December 31, 2015 reflect this change. As of December 31, 2015, the cost of shares repurchased by the Company has been allocated to common stock, additional paid-in capital and retained earnings. Transfer of Financial Assets Transfers of financial assets are accounted for as sales when control over the assets has been relinquished. Control over transferred assets is deemed to be surrendered when the assets have been isolated from the Company, the transferee obtains the right, free of conditions that constrain it from taking advantage of that right, to pledge or exchange the transferred assets and the Company does not maintain effective control over the transferred assets through an agreement to repurchase them before maturity. Salary Continuation Agreements The Company records the expense associated with its salary continuation agreements over the service periods of the persons covered under these agreements. Income Taxes The Company accounts for income taxes under the liability method. Deferred tax assets and liabilities are recorded for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Future tax benefits are recognized to the extent that realization of such benefits is more likely than not. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which the assets and liabilities are expected to be recovered or settled. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income taxes during the period that includes the enactment date. In the event the future tax consequences of differences between the financial reporting bases and the tax bases of the Company’s assets and liabilities results in deferred tax assets, an evaluation of the probability of being able to realize the future benefits indicated by such asset is required. A valuation allowance is provided for the portion of the deferred tax asset when it is more likely than not that some or all of the deferred tax asset will not be realized. In assessing the realizability of the deferred tax assets, management considers the scheduled reversals of deferred tax liabilities, projected future taxable earnings and tax planning strategies. The income tax benefit or expense is the total of the current year income tax due or refundable and the change in deferred tax assets and liabilities. A tax position is recognized as a benefit only if it is more likely than not that the tax position would be sustained in a tax examination, with a tax examination presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50 percent likely of being realized on examination. For tax positions not meeting the more likely than not test, no tax benefit is recorded. The Company recognizes interest and penalties accrued related to unrecognized tax benefits, if applicable, in noninterest expense. During the years ended December 31, 2015, 2014, and 2013, the Company did not recognize any interest or penalties in its financial statements, nor has it recorded an accrued liability for interest or penalty payments. Stock-based Compensation Plans The Company issues stock options under the 2009 Stock Option Plan and the 2014 Equity Incentive Plan to directors, officers and other key employees. In accordance with the requirements of ASC 718, Compensation – Stock Compensation The Company may issue restricted stock under the 2009 Recognition and Retention Plan and restricted stock or restricted stock units under the 2014 Equity Incentive Plan for directors, officers and other key employees. Awards under the plans may not be sold or otherwise transferred until certain restrictions have lapsed. The unearned compensation related to these awards is amortized to compensation expense over the service period, which is usually the vesting period. The total share-based compensation expense for these awards is determined based on the market price of the Company’s common stock as of the date of grant applied to the total number of shares granted and is amortized over the vesting period. Earnings Per Share Earnings per share represents income available to common shareholders divided by the weighted-average number of common shares outstanding during the period. Diluted earnings per share reflects additional common shares that would have been outstanding if dilutive potential common shares had been issued, as well as any adjustment to income that would result from the assumed issuance. Comprehensive Income GAAP generally requires that recognized revenues, expenses, gains and losses be included in net earnings. Although certain changes in assets and liabilities, such as unrealized gains and losses on available for sale securities, are reported as a separate component of the equity section of the balance sheets, such items, along with net earnings, are components of comprehensive income. The tax effect for unrealized gains and losses on investment securities was ($230,670), $598,203 and ($1,413,095) for the periods ending December 31, 2015, 2014 and 2013, respectively. The reclassification adjustment for gains included in net income had a tax effect of ($2,548), ($639) and ($149,870) for the periods ending December 31, 2015, 2014 and 2013. Comprehensive income is reflected in the Consolidated Statements of Comprehensive Income. Reclassifications Certain reclassifications have been made to prior period balances to conform to the current period presentation. Recent Accounting Pronouncements In August 2014, the FASB issued ASU 2014-15, “Presentation of Financial Statements – Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern.” ASU 2014-15 requires companies to evaluate whether there are conditions and events that raise substantial doubt about the entity’s ability to continue as a going concern within one year after the financial statements are issued. Management will be required to make the evaluation and disclose for both annual and interim reporting periods. The ASU is effective for interim and annual periods after December 15, 2016. The adoption of this ASU is not expected to have a material effect on our Consolidated Financial Statements. In February 2015, the FASB issued ASU 2015-02, “Amendments to the Consolidation Analysis,” which eliminates the deferral of certain investments in variable interest entities. ASU 2015-02 will allow companies with interests in certain investment funds to follow preceding consolidation guidance and make changes to the variable interest model and the voting model. The ASU is effective for annual and interim periods beginning after December 15, 2015. The adoption of this ASU is not expected to have a material effect on our Consolidated Financial Statements. In September 2015, the FASB issued ASU 2015-16, “Simplifying the Accounting for Measurement-Period Adjustments”. The guidance eliminates the requirement that an acquirer in a business combination account for measurement-period adjustments retrospectively. The ASU is effective for annual and interim periods beginning after December 15, 2015. The adoption of this ASU is not expected to have a material effect on our Consolidated Financial Statements. In January 2016, the FASB issued ASU 2016-01, “Recognition and Measurement of Financial Assets and Financial Liabilities”. The ASU amendments include changes related to how certain equity investments are measured, recognize changes in the fair value of financial certain liabilities measured under the fair value option, and disclose and present financial assets and liabilities on the Company’s consolidated financial statements. Additionally, the ASU will also require entities to present financial assets and financial liabilities separately, grouped by measurement category and form of financial asset in the statement of financial position or in the accompanying notes to the financial statements. Entities will also no longer have to disclose the methods and significant assumptions for financial instruments measured at amortized cost, but will be required to measure such instruments under the “exit price” notion for disclosure purposes. The ASU is effective for annual and interim periods beginning after December 15, 2017. The adoption of this ASU is not expected to have a material effect on our Consolidated Financial Statements. In February 2016, the FASB issued ASU 2016-02, “Conforming Amendments Related to Leases”. This ASU amends the codification regarding leases in order to increase transparency and comparability. The ASU requires companies to recognize lease assets and liabilities on the statement of condition and disclose key information about leasing arrangements. A lessee would recognize a liability to make lease payments and a right-of-use asset representing its right to use the leased asset for the lease term. The ASU is effective for annual and interim periods beginning after December 15, 2018. The adoption of this ASU is not expected to have a material effect on our Consolidated Financial Statements. |
Acquisition Activity
Acquisition Activity | 12 Months Ended |
Dec. 31, 2015 | |
Business Combinations [Abstract] | |
Acquisition Activity | 3. Acquisition Activity Louisiana Bancorp. The acquisition was accounted for under the acquisition method of accounting in accordance with ASC 805, Business Combinations The fair value estimates of Louisiana Bancorp’s assets and liabilities recorded are preliminary and subject to refinement as additional information becomes available. Under current accounting principles, the Company’s estimates of fair values may be adjusted for a period of up to one year from the acquisition date. The assets acquired and liabilities assumed, as well as the adjustments to record the assets and liabilities at fair value, are presented in the following table as of September 15, 2015. (dollars in thousands) As Acquired Fair Value As recorded by Assets Cash and cash equivalents $ 14,098 $ — $ 14,098 Investment securities 35,794 626 (a) 36,420 Loans 281,909 (326 ) (b) 281,583 Repossessed assets 64 1 (c) 65 Office properties and equipment, net 3,349 2,989 (d) 6,338 Core deposit intangible — 1,586 (e) 1,586 Other assets 10,747 302 (f) 11,049 Total assets acquired $ 345,961 $ 5,178 $ 351,139 Liabilities Interest-bearing deposits $ 180,318 $ 37 (g) $ 180,355 Noninterest-bearing deposits 28,315 — 28,315 FHLB advances 75,754 203 (h) 75,957 Other liabilities 5,993 693 (i) 6,686 Total liabilities assumed $ 290,380 $ 933 $ 291,313 Excess of assets acquired over liabilities assumed 59,826 Cash consideration paid (70,021 ) Total goodwill recorded $ 10,195 (a) The adjustment represents the market value adjustments on Louisiana Bancorp’s investments based on their interest rate risk and credit risk. (b) The adjustment to reflect the fair value of loans includes: • Adjustment of $2.4 million to reflect the removal of Louisiana Bancorp’s allowance for loan losses in accordance with ASC 805. • Adjustment of ($2.7 million) for all loans determined not to be within the scope of ASC 310-30. In determining the fair value of the loans which are not within the scope of ASC 310-30, the acquired loan portfolio was evaluated based on risk characteristics and other credit and market criteria to determine a credit quality adjustment to the fair value of the loans acquired. The acquired loan balance was reduced by the aggregate amount of the credit quality adjustment in determining the fair value of the loans. (c) The adjustment represents the write up of the book value of Louisiana Bancorp’s repossessed assets to their estimated fair value, as adjusted for estimated costs to sell. (d) The adjustment represents the adjustment of Louisiana Bancorp’s office properties and equipment to their estimated fair value at the acquisition date. (e) The adjustment represents the value of the core deposit base assumed in the acquisition. The core deposit asset was recorded as an identifiable intangible asset and will be amortized on an accelerated basis over the estimated life of the deposit base of 15 years. (f) The adjustment is to record the deferred tax asset on the transaction and the estimated fair value on other assets. (g) The adjustment represents the fair value of certificates of deposit acquired based on current interest rates for similar instruments. The adjustment will be recognized using a level yield amortization method based on maturities of the deposit liabilities. (h) The adjustment is to record the fair value of FHLB advances acquired at various terms and maturities based on market rates at the acquisition date. The adjustment will be recognized using a level yield amortization method based on maturities of the borrowings. (i) The adjustment is to accrue all the liabilities owed by Louisiana Bancorp payable at the acquisition date. None of the acquired loans were considered impaired as of the date of acquisition. The following pro forma information for the years 2015 and 2014 reflects the Company’s estimated condensed consolidated results of operations as if the acquisition of Louisiana Bancorp occurred at January 1, 2014, unadjusted for potential cost savings. (dollars in thousands except per share information) 2015 2014 Net interest income $ 62,430 $ 61,346 Noninterest income 10,115 10,226 Noninterest expense 47,563 49,722 Net income 14,960 12,633 Earnings per share – basic $ 2.23 $ 1.93 Earnings per share – diluted 2.14 1.82 The selected pro forma financial information presented above is for illustrative purposes only and is not necessarily indicative of the financial results of the combined companies had the acquisition actually been completed at the beginning of the periods presented, nor does it indicate future results for any other interim or full-year period. Britton & Koontz Capital Corporation. Acquired loans which are impaired as of the date of acquisition are accounted for under ASC 310-30, Loans and Debt Securities Acquired with Deteriorated Credit Quality The following table summarizes the accretable yield on the loans acquired from Britton & Koontz with deteriorated credit quality as of February 14, 2014 and the changes therein through December 31, 2015. (dollars in thousands) 2015 2014 Balance, beginning of period $ (1,824 ) $ — Acquisition accretable yield — (2,260 ) Accretion 590 436 Net transfers from nonaccretable difference to accretable yield (448 ) — Balance, end of period $ (1,682 ) $ (1,824 ) As of December 31, 2015, the weighted average remaining contractual life of the loan portfolio acquired with deteriorated credit quality from Britton & Koontz was 1.0 year. GS Financial Corp. The nonaccretable difference on loans acquired from GSFC totaled $5,490,000 as of July 15, 2011 and represented an estimate of the undiscounted loss exposure in the acquired loans with deteriorated credit quality as of the acquisition date. The following table summarizes the accretable yield on the loans acquired from GSFC with deteriorated credit quality as of July 15, 2011 and the changes therein through December 31, 2015. (dollars in thousands) 2015 2014 2013 Balance, beginning of period $ (1,270 ) $ (1,281 ) $ (839 ) Acquisition accretable yield — — — Accretion 2 11 133 Net transfers from nonaccretable difference to accretable yield 1,218 — (575 ) Balance, end of period $ (50 ) $ (1,270 ) $ (1,281 ) As of December 31, 2015, the weighted average remaining contractual life of the loan portfolio acquired with deteriorated credit quality from GSFC was 5.6 years. Statewide Bank. The following table summarizes the accretable yield on the loans acquired from Statewide as of December 31, 2011 and the changes therein through December 31, 2015. (dollars in thousands) 2015 2014 2013 Balance, beginning of period $ (7,706 ) $ (2,134 ) $ (3,973 ) Acquisition accretable yield — — — Accretion 3,238 8,121 5,417 Net transfers from nonaccretable difference to accretable yield 203 (13,693 ) (3,578 ) Balance, end of period $ (4,265 ) $ (7,706 ) $ (2,134 ) As of December 31, 2015, the weighted average remaining contractual life of loan portfolio acquired with deteriorated credit quality from Statewide was 5.0 years. |
Investment Securities
Investment Securities | 12 Months Ended |
Dec. 31, 2015 | |
Investments, Debt and Equity Securities [Abstract] | |
Investment Securities | 4. Investment Securities Summary information regarding the Company’s investment securities classified as available for sale and held to maturity as of December 31, 2015 and 2014 follows. (dollars in thousands) Amortized Gross Gross Unrealized Fair Value December 31, 2015 Less Than Over 1 Available for sale: U.S. agency mortgage-backed $ 134,748 $ 1,464 $ 287 $ 447 $ 135,478 Non-U.S. agency mortgage-backed 6,055 51 — 41 6,065 Municipal bonds 22,453 490 10 — 22,933 U.S. government agency 12,166 145 25 — 12,286 Total available for sale $ 175,422 $ 2,150 $ 322 $ 488 $ 176,762 Held to maturity: Municipal bonds $ 13,927 $ 239 $ 45 $ — $ 14,121 Total held to maturity $ 13,927 $ 239 $ 45 $ — $ 14,121 (dollars in thousands) Amortized Gross Gross Unrealized Fair Value December 31, 2014 Less Than Over 1 Available for sale: U.S. agency mortgage-backed $ 120,009 $ 1,984 $ 10 $ 485 $ 121,498 Non-U.S. agency mortgage-backed 7,757 61 28 26 7,764 Municipal bonds 24,388 561 2 51 24,896 U.S. government agency 20,639 190 — 186 20,643 Total available for sale $ 172,793 $ 2,796 $ 40 $ 748 $ 174,801 Held to maturity: Municipal bonds $ 11,705 $ 202 $ 3 $ 15 $ 11,889 Total held to maturity $ 11,705 $ 202 $ 3 $ 15 $ 11,889 Management evaluates securities for other-than-temporary impairment at least quarterly, and more frequently when economic and market conditions warrant such evaluations. Consideration is given to (1) the extent and length of time the fair value has been below cost; (2) the reasons for the decline in value; (3) the Company’s intent to sell a security or whether it is more likely than not we will be required to sell the security before the recovery of its amortized cost, which may extend to maturity and our ability and intent to hold the security for a period of time that allows for the recovery in value in the case of equity securities. The Company performs a process to identify securities that could potentially have a credit impairment that is other-than-temporary. This process involves evaluating each security for impairment by monitoring credit performance, collateral type, collateral geography, bond credit support, loan-to-value ratios, credit scores, loss severity levels, pricing levels, downgrades by rating agencies, cash flow projections and other factors as indicators of potential credit issues. When the Company determines that a security is deemed to be other than temporarily impaired, an impairment loss is recognized. As of December 31, 2015, 48 of the Company’s debt securities had unrealized losses totaling 1.4% of the individual securities’ amortized cost basis and 0.5% of the Company’s total amortized cost basis of the investment securities portfolio. 13 of the 48 securities had been in a continuous loss position for over 12 months at such date. The 13 securities had an aggregate amortized cost basis and unrealized loss of $16,115,000 and $488,000, respectively, at December 31, 2015. Management has the intent and ability to hold these debt securities until maturity or until anticipated recovery. No declines in these 48 securities were deemed to be other-than-temporary. The amortized cost and estimated fair value by maturity of the Company’s investment securities as of December 31, 2015 are shown in the following tables. Securities are classified according to their contractual maturities without consideration of principal amortization, potential prepayments or call options. The expected maturity of a security may differ from its contractual maturity because of the exercise of call options and potential paydowns. Accordingly, actual maturities may differ from contractual maturities. (dollars in thousands) One Year or Less After One After Five After Ten Total Fair Value Securities available for sale: U.S. agency mortgage-backed $ 1 $ 5,381 $ 31,930 $ 98,166 $ 135,478 Non-U.S. agency mortgage-backed — — — 6,065 6,065 Municipal bonds 930 7,765 12,032 2,206 22,933 U.S. government agency — 8,016 — 4,270 12,286 Total securities available for sale $ 931 $ 21,162 $ 43,962 $ 110,707 $ 176,762 Securities held to maturity: Municipal bonds $ 237 $ 1,105 $ 8,783 $ 3,996 $ 14,121 Total securities held to maturity $ 237 $ 1,105 $ 8,783 $ 3,996 $ 14,121 (dollars in thousands) One Year or Less After One After Five After Ten Years Total Amortized Cost Securities available for sale: U.S. agency mortgage-backed $ 1 $ 5,296 $ 31,859 $ 97,592 $ 134,748 Non-U.S. agency mortgage-backed — — — 6,055 6,055 Municipal bonds 928 7,615 11,809 2,101 22,453 U.S. government agency — 7,988 — 4,178 12,166 Total securities available for sale $ 929 $ 20,899 $ 43,668 $ 109,926 $ 175,422 Securities held to maturity: Municipal bonds $ 235 $ 1,088 $ 8,599 $ 4,005 $ 13,927 Total securities held to maturity $ 235 $ 1,088 $ 8,599 $ 4,005 $ 13,927 For the year ended December 31, 2015, the Company recorded gross gains of $8,000 and gross losses of $1,000 related to the sale of investment securities. For the year ended December 31, 2014, the Company recorded gross gains of $2,000 and no gross losses related to the sale of investment securities. As of December 31, 2015 and 2014, the Company had accrued interest receivable for investment securities of $784,000 and $781,000, respectively. As of December 31, 2015 and 2014, the Company had $94,661,000 and $76,491,000, respectively, of securities pledged to secure public deposits. As of December 31, 2014, the Company had $21,211,000 of securities pledged to securities sold under repurchase agreements. |
Loans
Loans | 12 Months Ended |
Dec. 31, 2015 | |
Receivables [Abstract] | |
Loans | 5. Loans The Company’s loans, net of unearned income, consisted of the following as of December 31 of the years indicated. (dollars in thousands) 2015 2014 Real estate loans: One- to four-family first mortgage $ 391,266 $ 233,249 Home equity loans and lines 94,060 56,000 Commercial real estate 405,379 352,863 Construction and land 116,775 89,154 Multi-family residential 43,863 27,375 Total real estate loans 1,051,343 758,641 Other loans: Commercial and industrial 125,108 104,446 Consumer 47,915 45,881 Total other loans 173,023 150,327 Total loans $ 1,224,366 $ 908,968 A summary of activity in the Company’s allowance for loan losses for the years ended December 31, 2015, 2014 and 2013 is as follows. For the Year Ended December 31, 2015 (dollars in thousands) Beginning Charge-offs Recoveries Provision Ending Originated loans: Allowance for loan losses: One- to four-family first mortgage $ 1,136 $ (62 ) $ 30 $ 268 $ 1,372 Home equity loans and lines 442 (15 ) 20 89 536 Commercial real estate 2,922 — 1 229 3,152 Construction and land 968 — — 392 1,360 Multi-family residential 192 — — (19 ) 173 Commercial and industrial 1,161 (190 ) 226 813 2,010 Consumer 521 (130 ) 1 179 571 Total allowance for loan losses $ 7,342 $ (397 ) $ 278 $ 1,951 $ 9,174 Acquired loans: Allowance for loan losses: One- to four-family first mortgage $ 174 $ (42 ) $ — $ (40 ) $ 92 Home equity loans and lines 111 (12 ) — 125 224 Commercial real estate — — — — — Construction and land 133 (111 ) — 35 57 Multi-family residential — — — — — Commercial and industrial — — — — — Consumer — — — — — Total allowance for loan losses $ 418 $ (165 ) $ — $ 120 $ 373 Total loans: Allowance for loan losses: One- to four-family first mortgage $ 1,310 $ (104 ) $ 30 $ 228 $ 1,464 Home equity loans and lines 553 (27 ) 20 214 760 Commercial real estate 2,922 — 1 229 3,152 Construction and land 1,101 (111 ) — 427 1,417 Multi-family residential 192 — — (19 ) 173 Commercial and industrial 1,161 (190 ) 226 813 2,010 Consumer 521 (130 ) 1 179 571 Total allowance for loan losses $ 7,760 $ (562 ) $ 278 $ 2,071 $ 9,547 For the Year Ended December 31, 2014 (dollars in thousands) Beginning Charge-offs Recoveries Provision Ending Originated loans: Allowance for loan losses: One- to four-family first mortgage $ 904 $ (99 ) $ — $ 331 $ 1,136 Home equity loans and lines 366 (2 ) 5 73 442 Commercial real estate 2,528 — — 394 2,922 Construction and land 977 (19 ) — 10 968 Multi-family residential 90 — — 102 192 Commercial and industrial 1,332 (1,407 ) 184 1,052 1,161 Consumer 473 (32 ) 3 77 521 Total allowance for loan losses $ 6,670 $ (1,559 ) $ 192 $ 2,039 $ 7,342 Acquired loans: Allowance for loan losses: One- to four-family first mortgage $ 184 $ (114 ) $ — $ 104 $ 174 Home equity loans and lines 58 — — 53 111 Commercial real estate — (41 ) — 41 — Construction and land — — — 133 133 Multi-family residential — — — — — Commercial and industrial 6 — — (6 ) — Consumer — — — — — Total allowance for loan losses $ 248 $ (155 ) $ — $ 325 $ 418 Total loans: Allowance for loan losses: One- to four-family first mortgage $ 1,088 $ (213 ) $ — $ 435 $ 1,310 Home equity loans and lines 424 (2 ) 5 126 553 Commercial real estate 2,528 (41 ) — 435 2,922 Construction and land 977 (19 ) — 143 1,101 Multi-family residential 90 — — 102 192 Commercial and industrial 1,338 (1,407 ) 184 1,046 1,161 Consumer 473 (32 ) 3 77 521 Total allowance for loan losses $ 6,918 $ (1,714 ) $ 192 $ 2,364 $ 7,760 For the Year Ended December 31, 2013 (dollars in thousands) Beginning Charge-offs Recoveries Provision Ending Originated loans: Allowance for loan losses: One- to four-family first mortgage $ 798 $ (76 ) $ — $ 182 $ 904 Home equity loans and lines 322 — 10 34 366 Commercial real estate 2,040 — — 488 2,528 Construction and land 785 (44 ) 10 226 977 Multi-family residential 86 — — 4 90 Commercial and industrial 683 (1,990 ) 57 2,582 1,332 Consumer 400 (9 ) 24 58 473 Total allowance for loan losses $ 5,114 $ (2,119 ) $ 101 $ 3,574 $ 6,670 Acquired loans: Allowance for loan losses: One- to four-family first mortgage $ 184 $ (36 ) $ — $ 36 $ 184 Home equity loans and lines 21 — — 37 58 Commercial real estate — — — — — Construction and land — — — — — Multi-family residential — — — — — Commercial and industrial — — — 6 6 Consumer — — — — — Total allowance for loan losses $ 205 $ (36 ) $ — $ 79 $ 248 Total loans: Allowance for loan losses: One- to four-family first mortgage $ 982 $ (112 ) $ — $ 218 $ 1,088 Home equity loans and lines 343 — 10 71 424 Commercial real estate 2,040 — — 488 2,528 Construction and land 785 (44 ) 10 226 977 Multi-family residential 86 — — 4 90 Commercial and industrial 683 (1,990 ) 57 2,588 1,338 Consumer 400 (9 ) 24 58 473 Total allowance for loan losses $ 5,319 $ (2,155 ) $ 101 $ 3,653 $ 6,918 The Company’s allowance for loan losses and recorded investment in loans as of the periods indicated is as follows. As of December 31, 2015 Originated Loans (dollars in thousands) Collectively Individually Acquired Total Allowance for loan losses: One- to four-family first mortgage $ 1,338 $ 34 $ 92 $ 1,464 Home equity loans and lines 536 — 224 760 Commercial real estate 3,066 86 — 3,152 Construction and land 1,360 — 57 1,417 Multi-family residential 173 — — 173 Commercial and industrial 1,977 33 — 2,010 Consumer 571 — — 571 Total allowance for loan losses $ 9,021 $ 153 $ 373 $ 9,547 As of December 31, 2015 Originated Loans (dollars in thousands) Collectively Individually Acquired (1) Total Loans: One- to four-family first mortgage $ 185,802 $ 78 $ 205,386 $ 391,266 Home equity loans and lines 40,251 — 53,809 94,060 Commercial real estate 285,856 181 119,342 405,379 Construction and land 109,007 — 7,768 116,775 Multi-family residential 14,962 — 28,901 43,863 Commercial and industrial 115,360 707 9,041 125,108 Consumer 45,641 — 2,274 47,915 Total loans $ 796,879 $ 966 $ 426,521 $ 1,224,366 As of December 31, 2014 Originated Loans (dollars in thousands) Collectively Individually Acquired Total Allowance for loan losses: One- to four-family first mortgage $ 1,136 $ — $ 174 $ 1,310 Home equity loans and lines 442 — 111 553 Commercial real estate 2,815 107 — 2,922 Construction and land 968 — 133 1,101 Multi-family residential 192 — — 192 Commercial and industrial 1,128 33 — 1,161 Consumer 521 — — 521 Total allowance for loan losses $ 7,202 $ 140 $ 418 $ 7,760 As of December 31, 2014 Originated Loans (dollars in thousands) Collectively Individually Acquired (1) Total Loans: One- to four-family first mortgage $ 164,450 $ 78 $ 68,721 $ 233,249 Home equity loans and lines 34,485 — 21,515 56,000 Commercial real estate 279,493 777 72,593 352,863 Construction and land 77,057 — 12,097 89,154 Multi-family residential 16,507 — 10,868 27,375 Commercial and industrial 88,411 1,128 14,907 104,446 Consumer 43,049 — 2,832 45,881 Total loans $ 703,452 $ 1,983 $ 203,533 $ 908,968 (1) $20.0 million and $32.0 million in acquired loans were accounted for under ASC 310-30 at December 31, 2015 and 2014, respectively. Although the Company has a diversified loan portfolio, a substantial portion of the loan portfolio is collateralized by improved and unimproved real estate and is dependent, in part, on values in the real estate market. Credit quality indicators on the Company’s loan portfolio as of the dates indicated are as follows. December 31, 2015 (dollars in thousands) Pass Special Substandard Doubtful Total Originated loans: One- to four-family first mortgage $ 183,863 $ 439 $ 1,578 $ — $ 185,880 Home equity loans and lines 39,736 394 121 — 40,251 Commercial real estate 282,963 988 2,086 — 286,037 Construction and land 107,901 — 1,106 — 109,007 Multi-family residential 14,962 — — — 14,962 Commercial and industrial 113,108 585 2,374 — 116,067 Consumer 45,133 38 470 — 45,641 Total originated loans $ 787,666 $ 2,444 $ 7,735 $ — $ 797,845 Acquired loans: One- to four-family first mortgage $ 200,966 $ 791 $ 3,629 $ — $ 205,386 Home equity loans and lines 53,352 20 437 — 53,809 Commercial real estate 112,802 4,085 2,455 — 119,342 Construction and land 4,573 1,819 1,376 — 7,768 Multi-family residential 27,931 12 958 — 28,901 Commercial and industrial 7,071 1,191 779 — 9,041 Consumer 2,160 51 63 — 2,274 Total acquired loans $ 408,855 $ 7,969 $ 9,697 $ — $ 426,521 Total loans: One- to four-family first mortgage $ 384,829 $ 1,230 $ 5,207 $ — $ 391,266 Home equity loans and lines 93,088 414 558 — 94,060 Commercial real estate 395,765 5,073 4,541 — 405,379 Construction and land 112,474 1,819 2,482 — 116,775 Multi-family residential 42,893 12 958 — 43,863 Commercial and industrial 120,179 1,776 3,153 — 125,108 Consumer 47,293 89 533 — 47,915 Total loans $ 1,196,521 $ 10,413 $ 17,432 $ — $ 1,224,366 December 31, 2014 (dollars in thousands) Pass Special Substandard Doubtful Total Originated loans: One- to four-family first mortgage $ 161,922 $ 251 $ 2,355 $ — $ 164,528 Home equity loans and lines 33,731 255 499 — 34,485 Commercial real estate 274,878 3,655 1,737 — 280,270 Construction and land 75,888 103 1,066 — 77,057 Multi-family residential 15,642 865 — — 16,507 Commercial and industrial 88,309 39 1,191 — 89,539 Consumer 42,718 2 329 — 43,049 Total originated loans $ 693,088 $ 5,170 $ 7,177 $ — $ 705,435 Acquired loans: One- to four-family first mortgage $ 62,761 $ 1,007 $ 4,953 $ — $ 68,721 Home equity loans and lines 20,842 57 616 — 21,515 Commercial real estate 61,172 2,071 9,350 — 72,593 Construction and land 6,407 1 5,689 — 12,097 Multi-family residential 8,175 923 1,770 — 10,868 Commercial and industrial 13,699 — 1,208 — 14,907 Consumer 2,741 40 51 — 2,832 Total acquired loans $ 175,797 $ 4,099 $ 23,637 $ — $ 203,533 Total: One- to four-family first mortgage $ 224,683 $ 1,258 $ 7,308 $ — $ 233,249 Home equity loans and lines 54,573 312 1,115 — 56,000 Commercial real estate 336,050 5,726 11,087 — 352,863 Construction and land 82,295 104 6,755 — 89,154 Multi-family residential 23,817 1,788 1,770 — 27,375 Commercial and industrial 102,008 39 2,399 — 104,446 Consumer 45,459 42 380 — 45,881 Total loans $ 868,885 $ 9,269 $ 30,814 $ — $ 908,968 The above classifications follow regulatory guidelines and can generally be described as follows: • Pass loans are of satisfactory quality. • Special mention loans have an existing weakness that could cause future impairment, including the deterioration of financial ratios, past due status, questionable management capabilities and possible reduction in the collateral values. • Substandard loans have an existing specific and well defined weakness that may include poor liquidity and deterioration of financial ratios. The loan may be past due and related deposit accounts experiencing overdrafts. Immediate corrective action is necessary. • Doubtful loans have specific weaknesses that are severe enough to make collection or liquidation in full highly questionable and improbable. In addition, residential loans are classified using an inter-regulatory agency methodology that incorporates, among other factors, the extent of delinquencies and loan-to-value ratios. These classifications were the most current available as of December 31, 2015 and were generally updated within the prior three months. Loans acquired with deteriorated credit quality are excluded from the schedule of credit quality indicators. Age analysis of past due loans, as of the dates indicated is as follows. December 31, 2015 (dollars in thousands) 30-59 Days Past Due 60-89 Days Past Due Greater Past Due Total Past Due Current Loans Total Loans Originated loans: Real estate loans: One- to four-family first mortgage $ 2,174 $ 435 $ 890 $ 3,499 $ 182,381 $ 185,880 Home equity loans and lines 87 — 121 208 40,043 40,251 Commercial real estate 438 — 602 1,040 284,997 286,037 Construction and land 117 — 87 204 108,803 109,007 Multi-family residential — — — — 14,962 14,962 Total real estate loans 2,816 435 1,700 4,951 631,186 636,137 Other loans: Commercial and industrial 411 15 707 1,133 114,934 116,067 Consumer 533 277 358 1,168 44,473 45,641 Total other loans 944 292 1,065 2,301 159,407 161,708 Total originated loans $ 3,760 $ 727 $ 2,765 $ 7,252 $ 790,593 $ 797,845 Acquired loans: Real estate loans: One- to four-family first mortgage $ 1,976 $ 885 $ 2,582 $ 5,443 $ 199,943 $ 205,386 Home equity loans and lines 327 40 317 684 53,125 53,809 Commercial real estate 140 6 1,441 1,587 117,755 119,342 Construction and land 592 7 48 647 7,121 7,768 Multi-family residential — 14 12 26 28,875 28,901 Total real estate loans 3,035 952 4,400 8,387 406,819 415,206 Other loans: Commercial and industrial 14 7 429 450 8,591 9,041 Consumer 64 4 48 116 2,158 2,274 Total other loans 78 11 477 566 10,749 11,315 Total acquired loans $ 3,113 $ 963 $ 4,877 $ 8,953 $ 417,568 $ 426,521 Total loans: Real estate loans: One- to four-family first mortgage $ 4,150 $ 1,320 $ 3,472 $ 8,942 $ 382,324 $ 391,266 Home equity loans and lines 414 40 438 892 93,168 94,060 Commercial real estate 578 6 2,043 2,627 402,752 405,379 Construction and land 709 7 135 851 115,924 116,775 Multi-family residential — 14 12 26 43,837 43,863 Total real estate loans 5,851 1,387 6,100 13,338 1,038,005 1,051,343 Other loans: Commercial and industrial 425 22 1,136 1,583 123,525 125,108 Consumer 597 281 406 1,284 46,631 47,915 Total other loans 1,022 303 1,542 2,867 170,156 173,023 Total loans $ 6,873 $ 1,690 $ 7,642 $ 16,205 $ 1,208,161 $ 1,224,366 December 31, 2014 (dollars in thousands) 30-59 Past Due 60-89 Past Due Greater Past Due Total Current Total Originated loans: Real estate loans: One- to four-family first mortgage $ 2,056 $ 90 $ 1,058 $ 3,204 $ 161,324 $ 164,528 Home equity loans and lines 434 — 65 499 33,986 34,485 Commercial real estate 1,284 — 829 2,113 278,157 280,270 Construction and land 309 — — 309 76,748 77,057 Multi-family residential — — — — 16,507 16,507 Total real estate loans 4,083 90 1,952 6,125 566,722 572,847 Other loans: Commercial and industrial 271 49 451 771 88,768 89,539 Consumer 924 133 329 1,386 41,663 43,049 Total other loans 1,195 182 780 2,157 130,431 132,588 Total originated loans $ 5,278 $ 272 $ 2,732 $ 8,282 $ 697,153 $ 705,435 Acquired loans: Real estate loans: One- to four-family first mortgage $ 2,323 $ 1,341 $ 2,836 $ 6,500 $ 62,221 $ 68,721 Home equity loans and lines 249 97 220 566 20,949 21,515 Commercial real estate 4,551 1 1,840 6,392 66,201 72,593 Construction and land 499 755 702 1,956 10,141 12,097 Multi-family residential 1,052 25 319 1,396 9,472 10,868 Total real estate loans 8,674 2,219 5,917 16,810 168,984 185,794 Other loans: Commercial and industrial 177 392 336 905 14,002 14,907 Consumer 47 33 41 121 2,711 2,832 Total other loans 224 425 377 1,026 16,713 17,739 Total acquired loans $ 8,898 $ 2,644 $ 6,294 $ 17,836 $ 185,697 $ 203,533 Total loans: Real estate loans: One- to four-family first mortgage $ 4,379 $ 1,431 $ 3,894 $ 9,704 $ 223,545 $ 233,249 Home equity loans and lines 683 97 285 1,065 54,935 56,000 Commercial real estate 5,835 1 2,669 8,505 344,358 352,863 Construction and land 808 755 702 2,265 86,889 89,154 Multi-family residential 1,052 25 319 1,396 25,979 27,375 Total real estate loans 12,757 2,309 7,869 22,935 735,706 758,641 Other loans: Commercial and industrial 448 441 787 1,676 102,770 104,446 Consumer 971 166 370 1,507 44,374 45,881 Total other loans 1,419 607 1,157 3,183 147,144 150,327 Total loans $ 14,176 $ 2,916 $ 9,026 $ 26,118 $ 882,850 $ 908,968 As of December 31, 2015 and 2014, the Company did not have any loans greater than 90 days past due which were accruing interest. An impaired loan generally is one for which it is probable, based on current information, that the lender will not collect all the amounts due under the contractual terms of the loan. The Company evaluates loans for impairment on an individual basis when it believes that there is a potential for loss. When a determination is made that a loan has deteriorated to the point of becoming a problem loan, updated valuations may be ordered to help determine if there is impairment, which may lead to a recommendation for partial charge off or appropriate allowance allocation. The following is a summary of information pertaining to the Company’s impaired loans, excluding acquired loans, as of the dates indicated. For the Year Ended December 31, 2015 (dollars in thousands) Recorded Unpaid Related Average Interest With no related allowance recorded: One- to four-family first mortgage $ — $ — $ — $ 72 $ — Home equity loans and lines — — — — — Commercial real estate — — — — — Construction and land — — — — — Multi-family residential — — — — — Commercial and industrial — — — 213 — Consumer — — — — — Total $ — $ — $ — $ 285 $ — With an allowance recorded: One- to four-family first mortgage $ 78 $ 78 $ 34 $ 6 $ 5 Home equity loans and lines — — — — — Commercial real estate 181 181 86 461 11 Construction and land — — — — — Multi-family residential — — — — — Commercial and industrial 707 707 33 729 39 Consumer — — — — — Total $ 966 $ 966 $ 153 $ 1,196 $ 55 Total impaired loans: One- to four-family first mortgage $ 78 $ 78 $ 34 $ 78 $ 5 Home equity loans and lines — — — — — Commercial real estate 181 181 86 461 11 Construction and land — — — — — Multi-family residential — — — — — Commercial and industrial 707 707 33 942 39 Consumer — — — — — Total $ 966 $ 966 $ 153 $ 1,481 $ 55 For the Year Ended December 31, 2014 (dollars in thousands) Recorded Unpaid Related Average Interest With no related allowance recorded: One- to four-family first mortgage $ 78 $ 78 $ — $ 214 $ — Home equity loans and lines — — — — — Commercial real estate — — — 64 — Construction and land — — — 15 — Multi-family residential — — — — — Commercial and industrial 398 398 — 494 4 Consumer — — — — — Total $ 476 $ 476 $ — $ 787 $ 4 With an allowance recorded: One- to four-family first mortgage $ — $ — $ — $ — $ — Home equity loans and lines — — — — — Commercial real estate 777 777 107 239 10 Construction and land — — — — — Multi-family residential — — — — — Commercial and industrial 730 730 33 923 40 Consumer — — — — — Total $ 1,507 $ 1,507 $ 140 $ 1,162 $ 50 Total impaired loans: One- to four-family first mortgage $ 78 $ 78 $ — $ 214 $ — Home equity loans and lines — — — — — Commercial real estate 777 777 107 303 10 Construction and land — — — 15 — Multi-family residential — — — — — Commercial and industrial 1,128 1,128 33 1,417 44 Consumer — — — — — Total $ 1,983 $ 1,983 $ 140 $ 1,949 $ 54 The Company reviews its significant nonaccrual loans for specific impairment in accordance with its allowance for loan loss methodology. If it is determined that losses are probable when other credit quality indicators are considered, the loan is considered impaired and the Company specifically allocates a portion of the allowance for loan losses to these loans. A summary of information pertaining to the Company’s nonaccrual loans as of December 31, 2015 and 2014 is as follows. December 31, 2015 December 31, 2014 (dollars in thousands) Originated Acquired (1) Total Originated Acquired (1) Total Nonaccrual loans: One- to four-family first mortgage $ 928 $ 2,649 $ 3,577 $ 1,429 $ 5,072 $ 6,501 Home equity loans and lines 121 412 534 65 482 547 Commercial real estate 1,671 2,526 4,197 829 5,498 6,327 Construction and land 87 121 207 — 5,356 5,356 Multi-family residential — 763 763 — 1,770 1,770 Commercial and industrial 2,374 610 2,984 1,191 1,168 2,359 Consumer 470 81 552 329 92 421 Total $ 5,651 $ 7,162 $ 12,813 $ 3,843 $ 19,438 $ 23,281 (1) Nonaccrual acquired loans accounted for under ASC 310-30 totaled $4.6 million and $11.8 million as of December 31, 2015 and 2014, respectively. As of December 31, 2015, the Company was not committed to lend additional funds to any customer whose loan was classified as impaired. As of December 31, 2015 and 2014, the Company had accrued interest receivable for loans of $3,940,000 and $3,179,000, respectively. Troubled Debt Restructurings During the course of its lending operations, the Company periodically grants concessions to its customers in an attempt to protect as much of its investment as possible and to minimize risk of loss. These concessions may include restructuring the terms of a customer loan to alleviate the burden of the customer’s near-term cash requirements. The Company adopted the provisions of ASU No. 2011-02, Receivables A Creditor’s Determination of Whether a Restructuring is a Troubled Debt Restructuring • a reduction of the stated interest rate for the remaining original life of the debt, • an extension of the maturity date or dates at an interest rate lower than the current market rate for new debt with similar risk characteristics, • a reduction of the face amount or maturity amount of the debt, or • a reduction of accrued interest receivable on the debt. In its determination of whether the customer is experiencing financial difficulties, the Company considers numerous indicators, including, but not limited to: • whether the customer is currently in default on its existing loan, or is in an economic position where it is probable the customer will be in default on its loan in the foreseeable future without a modification, • whether the customer has declared or is in the process of declaring bankruptcy, • whether there is substantial doubt about the customer’s ability to continue as a going concern, • whether, based on its projections of the customer’s current capabilities, the Company believes the customer’s future cash flows will be insufficient to service the debt, including interest, in accordance with the contractual terms of the existing agreement for the foreseeable future, and • whether, without modification, the customer cannot obtain sufficient funds from other sources at an effective interest rate equal to the current market rate for similar debt for a non-troubled debtor. If the Company concludes that both a concession has been granted and the concession was granted to a customer experiencing financial difficulties, the Company identifies the loan as a TDR. For purposes of the determination of an allowance for loan losses on TDRs, such loans are reviewed for specific impairment in accordance with the Company’s allowance for loan loss methodology. If it is determined that losses are probable on such TDRs, either because of delinquency or other credit quality indicators, the Company specifically allocates a portion of the allowance for loan losses to these loans. Information about the Company’s TDRs is presented in the following tables. As of December 31, 2015 (dollars in thousands) Current Past Due Nonaccrual Total Originated loans: Real estate loans: One- to four-family first mortgage $ 281 $ — $ 38 $ 319 Home equity loans and lines 383 — 3 386 Commercial real estate 107 — 1,069 1,176 Construction and land — — 87 87 Multi-family residential — — — — Total real estate loans 771 — 1,197 1,968 Other loans: Commercial and industrial — — 2,374 2,374 Consumer 27 — 142 169 Total other loans 27 — 2,516 2,543 Total loans $ 798 $ — $ 3,713 $ 4,511 Acquired loans: Real estate loans: One- to four-family first mortgage $ 419 $ 73 $ 15 $ 507 Home equity loans and lines — — — — Commercial real estate — — 1,192 1,192 Construction and land — — 52 52 Multi-family residential — — — — Total real estate loans 419 73 1,259 1,751 Other loans: Commercial and industrial — — — — Consumer — — — — Total other loans — — — — Total loans $ 419 $ 73 $ 1,259 $ 1,751 Total loans: Real estate loans: One- to four-family first mortgage $ 700 $ 73 $ 53 $ 826 Home equity loans and lines 383 — 3 386 Commercial real estate 107 — 2,261 2,368 Construction and land — — 139 139 Multi-family residential — — — — Total real estate loans 1,190 73 2,456 3,719 Other loans: Commercial and industrial — — 2,374 2,374 Consumer 27 — 142 169 Total other loans 27 — 2,516 2,543 Total loans $ 1,217 $ 73 $ 4,972 $ 6,262 As of December 31, 2014 (dollars in thousands) Current Past Due Nonaccrual Total Originated loans: Real estate loans: One- to four-family first mortgage $ — $ — $ 291 $ 291 Home equity loans and lines — — — — Commercial real estate 111 — — 111 Construction and land 103 — — 103 Multi-family residential — — — — Total real estate loans 214 — 291 505 Other loans: Commercial and industrial — — 730 730 Consumer — — — — Total other loans — — 730 730 Total loans $ 214 $ — $ 1,021 $ 1,235 Acquired loans: Real estate loans: One- to four-family first mortgage $ 432 $ 77 $ 49 $ 558 Home equity loans and lines — — — — Commercial real estate — — 967 967 Construction and land — — 117 117 Multi-family residential — — — — Total real estate loans 432 77 1,133 1,642 Other loans: Commercial and industrial — — — — Consumer 2 — 2 4 Total other loans 2 — 2 4 Total loans $ 434 $ 77 $ 1,135 $ 1,646 Total loans: Real estate loans: One- to four-family first mortgage $ 432 $ 77 $ 340 $ 849 Home equity loans and lines — — — — Commercial real estate 111 — 967 1,078 Construction and land 103 — 117 220 Multi-family residential — — — — Total real estate loans 646 77 1,424 2,147 Other loans: Commercial and industrial — — 730 730 Consumer 2 — 2 4 Total other loans 2 — 732 734 Total loans $ 648 $ 77 $ 2,156 $ 2,881 A summary of information pertaining to modified terms of loans, as of the date indicated is as follows. As of December 31, 2015 As of December 31, 2014 (dollars in thousands) Number of Pre-modification Post-modification Number of Pre-modification Post-modification Troubled debt restructurings: One- to four-family first mortgage 5 $ 987 $ 826 5 $ 1,007 $ 849 Home equity loans and lines 2 386 386 — — — Commercial real estate 6 2,513 2,368 2 1,088 1,078 Construction and land 2 469 139 2 494 220 Multi-family residential — — — — — — Commercial and industrial 15 2,715 2,374 1 761 730 Other consumer 4 185 169 2 29 4 Total 34 $ 7,255 $ 6,262 12 $ 3,379 $ 2,881 None of the performing troubled debt restructurings as of December 31, 2015 has defaulted subsequent to the restructuring through the date the financial statements were available to be issued. The Company restructured, as a TDR, 25 loans totaling $3,645,000 during 2015 and one loan totaling $730,000 during 2014. |
Loan Servicing
Loan Servicing | 12 Months Ended |
Dec. 31, 2015 | |
Text Block [Abstract] | |
Loan Servicing | 6. Loan Servicing Mortgage loans sold to and serviced for others are not included in the accompanying statements of financial condition. The unpaid principal balances of these loans as of December 31 of the years indicated are summarized as follows: (dollars in thousands) 2015 2014 Mortgage loans sold to Federal Home Loan Mortgage Corporation without recourse $ 7,710 $ 10,821 Mortgage loans sold to Federal National Mortgage Association without recourse 217,869 92,626 Mortgage loans sold to Federal Home Loan Bank without recourse 800 — Balance, end of period $ 226,379 $ 103,447 The Company records servicing assets related to mortgage loans sold and serviced at fair value and will amortize these servicing assets over the period of estimated net servicing income associated with each loan. Management assesses servicing assets for potential impairment annually. Activity related to servicing assets for the years ended December 31, 2015, 2014 and 2013 is summarized as follows. (dollars in thousands) 2015 2014 2013 Balance at the beginning of the year $ 356 $ 516 $ 611 Recognition of servicing assets from the transfer of financial assets 18 — 101 Acquired from LABC, at fair value 682 — — Amortization (180 ) (160 ) (196 ) Balance, end of period $ 876 $ 356 $ 516 Fair value, end of period $ 1,561 $ 629 $ 1,009 Custodial and escrow account balances maintained in connection with the foregoing loan servicing arrangements were $1,336,000 and $1,044,000 as of December 31, 2015 and 2014, respectively. |
Office Properties and Equipment
Office Properties and Equipment | 12 Months Ended |
Dec. 31, 2015 | |
Property, Plant and Equipment [Abstract] | |
Office Properties and Equipment | 7. Office Properties and Equipment Office properties and equipment consisted of the following as of December 31 of the years indicated. (dollars in thousands) 2015 2014 Land $ 14,049 $ 12,224 Buildings and improvements 31,084 29,252 Furniture and equipment 10,917 11,403 Total office properties and equipment 56,050 52,879 Less accumulated depreciation 15,234 14,914 Total office properties and equipment, net $ 40,816 $ 37,965 Depreciation expense for the years ended December 31, 2015, 2014 and 2013 was $1,807,000, $1,738,000 and $1,421,000, respectively. |
Goodwill and Intangibles
Goodwill and Intangibles | 12 Months Ended |
Dec. 31, 2015 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Intangibles | 8. Goodwill and Intangibles The carrying amount of the Company’s goodwill was $11,095,000 and $899,000 as of December 31, 2015 and 2014, respectively. A summary of the Company’s core deposit intangible assets as of December 31 of the years indicated follows. (dollars in thousands) 2015 2014 Gross carrying amount $ 3,367 $ 1,053 Core deposit intangibles acquired during the year 1,586 3,030 Less amortization (744 ) (716 ) Total core deposit intangible asset $ 4,209 $ 3,367 Amortization expense on the Company’s core deposit intangible assets for the years ended December 31, 2015, 2014 and 2013 was $744,000, $716,000 and $332,000, respectively. The carrying amount of the Company’s mortgage servicing asset as of December 31, 2015, 2014 and 2013 was $876,000, $356,000 and $516,000, respectively. |
Deposits
Deposits | 12 Months Ended |
Dec. 31, 2015 | |
Banking and Thrift [Abstract] | |
Deposits | 9. Deposits The Company’s deposits consisted of the following major classifications as of December 31 of the years indicated. (dollars in thousands) 2015 2014 Demand deposit accounts $ 296,617 $ 267,660 Savings 109,393 81,145 Money market accounts 293,637 219,456 NOW accounts 267,707 204,536 Certificates of deposit 276,863 220,775 Total deposits $ 1,244,217 $ 993,572 As of December 31, 2015, the scheduled maturities of the Company’s certificates of deposit are as follows. (dollars in thousands) Amount 2015 $ 164,500 2016 59,267 2017 21,111 2018 11,561 2019 9,050 Thereafter 11,374 Total certificates of deposit $ 276,863 As of December 31, 2015 and 2014, the aggregate amount of certificates of deposit with balances of $250,000 or more was $27,272,000 and $20,179,000, respectively. |
Short-term FHLB Advances
Short-term FHLB Advances | 12 Months Ended |
Dec. 31, 2015 | |
Text Block [Abstract] | |
Short-term FHLB Advances | 10. Short-term FHLB Advances As of December 31, 2015, the Company’s short-term FHLB advances totaled $39,939,000, compared to $31,000,000 as of December 31, 2014. For the years ended December 31, 2015 and 2014, the average volume of short-term FHLB advances carried by the Company was $19,466,000 and $81,173,000, respectively. Collateral for short and long-term FHLB advances is secured through a blanket lien evidenced by the Bank’s pledge of first mortgage collateral, demand deposit accounts, capital stock and certain other assets pursuant to the “Advances, Collateral Pledge and Security Agreement.” Under this collateral pledge agreement, the Bank must meet all statutory and regulatory capital standards and must meet all FHLB credit underwriting standards. Management believes that the Bank was in compliance with all such requirements as of December 31, 2015 and 2014. As of December 31, 2015 and 2014, the Bank had $480,654,000 and $423,182,000, respectively, of additional FHLB advances available. As of December 31, 2015, the Company had $542,674,000 of loans pledged through the Bank’s blanket lien. |
Long-term FHLB Advances
Long-term FHLB Advances | 12 Months Ended |
Dec. 31, 2015 | |
Banking and Thrift [Abstract] | |
Long-term FHLB Advances | 11. Long-term FHLB Advances As of December 31, 2015 and 2014, the Company’s long-term FHLB advances totaled $85,213,000 and $16,500,000, respectively. The following table summarizes long-term advances as of December 31, 2015. (dollars in thousands) Amount Weighted Fixed rate advances maturing in: 2016 $ 5,358 1.09 % 2017 22,854 2.19 2018 5,986 1.32 2019 12,551 1.68 2020 32,622 1.60 Thereafter 5,842 2.18 Total long-term FHLB advances $ 85,213 1.76 % |
Securities Sold Under Repurchas
Securities Sold Under Repurchase Agreement | 12 Months Ended |
Dec. 31, 2015 | |
Brokers and Dealers [Abstract] | |
Securities Sold Under Repurchase Agreement | 12. Securities Sold Under Repurchase Agreement At December 31, 2014, the Company’s securities sold under repurchase agreement were $20,371,000. The repurchase agreement was acquired in the acquisition of Britton & Koontz with an effective interest rate of 0.36%, which matured in July 2015. The repurchase agreement was secured by various investment securities of U.S. Government obligations and obligations of other U.S. Government agencies. These securities totaled $21,211,000 at December 31, 2014 and had coupon rates ranging from 1.25% to 3.75% with maturity dates ranging from 2016 to 2028. |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2015 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | 13. Income Taxes The Company files federal income tax returns on a calendar year basis. Income tax (benefit) expense for the years indicated is summarized as follows: (dollars in thousands) 2015 2014 2013 Current $ 6,040 $ 4,690 $ 5,001 Deferred 631 516 (1,265 ) Total income tax expense $ 6,671 $ 5,206 $ 3,736 The components of the Company’s net deferred tax asset as of December 31 of the years indicated are as follows: (dollars in thousands) 2015 2014 Deferred tax assets: Provision for loan losses $ 3,341 $ 2,716 Discount on purchased loans 1,278 1,999 Borrowings — 130 Acquired tax credits 1,069 1,931 Salary continuation plan 929 538 Mortgage servicing rights 150 — Deferred compensation 120 119 Stock-based compensation 730 710 Real estate owned 143 458 Other 1,808 880 Deferred tax assets $ 9,568 $ 9,481 Deferred tax liabilities: FHLB stock dividends $ (60 ) $ (7 ) Accumulated depreciation (2,963 ) (1,297 ) Intangible assets (898 ) (545 ) Unrealized gain on securities available for sale (469 ) (703 ) Mortgage servicing rights — (125 ) Premium on investment securities acquired (760 ) (446 ) Other (1,721 ) (84 ) Deferred tax liabilities (6,871 ) (3,207 ) Net deferred tax asset $ 2,697 $ 6,274 For the years ended December 31, 2015, 2014 and 2013, the Company’s provision for federal income taxes differed from the amount computed by applying the federal income tax statutory rate of 35% on income from operations as indicated in the following analysis: (dollars in thousands) 2015 2014 2013 Federal tax based on statutory rate $ 6,706 $ 5,263 $ 3,857 State tax based on statutory rate 60 41 10 (Decrease) increase resulting from: Effect of tax-exempt income (242 ) (225 ) (294 ) Changes the cash surrender value of bank owned life insurance (176 ) (160 ) (162 ) Nondeductible merger-related expenses 261 52 62 Nondeductible share based compensation expense 178 203 230 Other (116 ) 32 33 Income tax expense $ 6,671 $ 5,206 $ 3,736 Effective tax rate 34.7 % 34.5 % 33.9 % Retained earnings as of December 31, 2015 and 2014, included $5,837,000 for which no deferred federal income tax liability has been recognized. This amount represents an allocation of income to bad debt deductions for tax purposes only. Reductions of amounts so allocated for purposes other than bad debt losses would create income for tax purposes only, which would be subject to the then-current federal statutory income tax rate. The unrecorded deferred income tax liability on the above amount was $1,985,000 as of December 31, 2015 and 2014. Current accounting standards do not require the accrual of this deferred tax amount to be recorded unless it is probable that the reserve (for tax purposes) will be significantly depleted by loan losses deductible for tax purposes in the future. Based on current estimates of losses within the Company’s loan portfolio, accrual of the deferred tax liability associated with this reserve was not required as of December 31, 2015 and 2014. |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | 14. Commitments and Contingencies Standby letters of credit represent commitments by the Bank to meet the obligations of certain customers if called upon. The Bank normally secures its outstanding standby letters of credit with deposits from the customer. Additionally, in the normal course of business, there were various other commitments and contingent liabilities which are not reflected in the financial statements. Loan commitments are single-purpose commitments to lend which will be funded and reduced according to specified repayment schedules. Most of these commitments have maturities of less than one year. The following table summarizes our outstanding commitments to originate loans and to advance additional amounts pursuant to outstanding letters of credit, lines of credit and the undisbursed portion of construction loans as of December 31 of the years indicated. Contract Amount (dollars in thousands) 2015 2014 Standby letters of credit $ 3,764 $ 5,405 Available portion of lines of credit 127,393 107,242 Undisbursed portion of loans in process 73,699 54,200 Commitments to originate loans 89,653 96,506 The Bank uses the same credit policies in making commitments as it does for on-balance-sheet instruments. The Bank evaluates each customer’s creditworthiness on a case-by-case basis. The amount of collateral obtained, if deemed necessary by the Bank upon extension of credit, is based on management’s credit evaluation of the customer. Collateral held varies but may include certificates of deposit, property, plant and equipment and income-producing properties. There are no commitments which present an unusual risk to the Bank, and no material losses are anticipated as a result of these transactions. |
Regulatory Matters
Regulatory Matters | 12 Months Ended |
Dec. 31, 2015 | |
Banking and Thrift [Abstract] | |
Regulatory Matters | 15. Regulatory Matters The Bank is subject to regulatory capital requirements administered by the OCC. 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 financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Bank must meet specific capital guidelines that involve quantitative measures of its assets, liabilities and certain off-balance sheet items as calculated under regulatory accounting practices. The Company and the Bank’s capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings and other factors. In July 2013, the Federal bank regulatory agencies issued a final rule that revised their risk-based capital requirements and the method for calculating components of capital and of computing risk-weighted assets to make them consistent with agreements that were reached by the Basel Committee on Banking Supervision and certain provisions of the Dodd-Frank Act. The final rule applies to all depository institutions and top-tier bank holding companies with total consolidated assets of $1.0 billion or more. The rule establishes a new common equity Tier 1 minimum capital requirement, increases the minimum capital ratios and assigns a higher risk weight to certain assets based on the risk associated with these assets. The final rule includes transition periods that generally implement the new regulations over a five year period. These changes began phasing in beginning in January 2015. Dividends paid by the Bank are the primary source of funds available to the Company. Banking regulations limit the amount of dividends that may be paid without prior approval of the regulatory authorities. Quantitative measures established by regulation to ensure capital adequacy require the Company and the Bank to maintain minimum amounts and ratios (set forth in the table below) of total and Tier 1 capital (as defined) to average assets and risk-weighted assets (as defined). Management believes, as of December 31, 2015 and 2014, that the Company and the Bank met all capital adequacy requirements to which it was subject. As of December 31, 2015 and 2014, the most recent notification from the OCC categorized the Bank as “well capitalized” under the OCC regulatory classification framework. To be categorized as “well capitalized,” the Bank must maintain minimum total risk-based, Tier 1 risk-based, Tier 1 leverage and tangible capital ratios as set forth in the following table. There are no conditions or events since that notification that management believes have changed the Bank’s category. The Company’s and the Bank’s actual capital amounts and ratios are presented in the following table. (dollars in thousands) Actual Minimum For Capital Adequacy Purposes To Be Well Capitalized December 31, 2015 Company Tier 1 risk-based capital: 151,221 13.05 % 69,534 6.0 % N/A N/A Total risk-based capital: 160,769 13.87 % 92,712 8.0 % N/A N/A Tier 1 leverage capital: 151,221 9.82 % 61,569 4.0 % N/A N/A Bank Common Equity Tier 1 (to risk-weighted assets): $ 134,348 11.61 % $ 52,087 4.5 % $ 75,237 6.5 % Tier 1 risk-based capital: 134,348 11.61 % 69,449 6.0 % 92,599 8.0 % Total risk-based capital: 143,895 12.43 % 92,599 8.0 % 115,749 10.0 % Tier 1 leverage capital: 134,348 8.74 % 61,512 4.0 % 76,890 5.0 % December 31, 2014 Bank Tier 1 risk-based capital: $ 145,325 16.94 % $ 34,303 4.0 % $ 51,454 6.0 % Total risk-based capital: 153,085 17.85 % 68,605 8.0 % 85,757 10.0 % Tier 1 leverage capital: 145,325 11.96 % 48,603 4.0 % 60,755 5.0 % |
Benefit Plans
Benefit Plans | 12 Months Ended |
Dec. 31, 2015 | |
Postemployment Benefits [Abstract] | |
Benefit Plans | 16. Benefit Plans 401(k) Match and Profit Sharing Plan The Company’s 401(k) defined contribution plan allows its participants to contribute up to 75% of their pretax earnings on a tax-deferred basis up to the statutory limit, and the Company contributes a matching contribution on behalf of plan participants limited to 4% of the employees’ salaries. For the years ended December 31, 2015, 2014 and 2013, the Company made contributions of $596,000, $524,000 and $335,000, respectively, in connection with the plans, which is included in compensation and benefits expense in the accompanying statements of income. Employee Stock Ownership Plan In 2008, the Company established an employee stock ownership plan (“ESOP”) for the benefit of all eligible employees of the Company. The leveraged ESOP is accounted for in accordance with the requirements of ASC 718, Compensation – Stock Compensation Employees of the Bank who have been employed for a six-month period and who have attained age 21 are eligible to participate in the ESOP. It is anticipated that contributions will be made to the plan in amounts necessary to amortize the debt to the Company over a period of 20 years. Under ASC 718, unearned ESOP shares are not considered outstanding and are shown as a reduction of shareholders’ equity as unearned compensation. Dividends on unallocated ESOP shares are considered to be compensation expense. The Company recognizes compensation cost equal to the fair value of the ESOP shares during the periods in which they are committed to be released. To the extent that the fair value of the Company’s ESOP shares differ from the cost of such shares, the differential is credited to shareholders’ equity. The Company receives a tax deduction equal to the cost of the shares released. As the loan is internally leveraged, the loan receivable from the ESOP to the Company is not reported as an asset nor is the debt of the ESOP shown as a Company liability. Compensation cost related to the ESOP was $795,000, $756,000 and $653,000 for the years ended December 31, 2015, 2014 and 2013, respectively. The fair value of the unearned ESOP shares, using the closing quoted market price per share as of year-end, was approximately $11,828,000 and $11,263,000 as of December 31, 2015 and 2014, respectively. A summary of the ESOP share allocation as of December 31, 2015 follows. 2015 2014 Shares allocated, beginning of year 198,836 171,945 Shares allocated during the year 35,708 35,708 Shares distributed during the year (15,129 ) (8,817 ) Allocated shares held by ESOP trust as of year end 219,415 198,836 Unallocated shares 455,271 490,978 Total ESOP shares 674,686 689,814 Salary Continuation Agreements As a supplement to its 401(k) retirement plan, the Bank has entered into nonqualified salary continuation agreements with two executive officers of the Bank. Under his salary continuation agreement, the Chief Executive Officer (“CEO”) will be entitled to a stated annual benefit for a period of ten years upon retirement from the Bank after attaining age 62. Benefits under the agreement vest over ten years, with 50% of this benefit having vested in 2007. In the event of early retirement, the Bank shall pay the CEO his vested benefits in 120 equal monthly installments upon his attaining age 62. Upon death during active service, the Bank shall distribute to the executive’s beneficiary an amount equal to two times his fully vested normal retirement benefit, payable in monthly installments over five years. In the event of a separation from service within 24 months following a change in control but prior to normal retirement age, the Bank shall distribute to the CEO his fully vested annual benefit in 12 equal monthly installments for ten years beginning the earlier of 24 months after separation from service or age 62. If separation from service occurs more than 24 months following a change in control, the annual benefit shall be distributed beginning at age 62. The Bank’s nonqualified salary continuation agreement with its Chief Credit Officer provides that the executive will be entitled to a stated annual benefit for a period of ten years upon retirement from the Bank after attaining age 65, distributed monthly. In the event of early retirement, the Bank shall pay the executive his vested benefits in 120 equal monthly installments upon attaining age 65. Upon death during active service, the Bank shall distribute the fully vested normal retirement benefit to the executive’s beneficiary in 120 monthly installments. In the event of a separation from service within 24 months following a change in control but prior to normal retirement age, the Bank shall distribute to the executive the vested portion of the annual benefit in a lump sum on the first day of the month following the separation from service. Benefits are subject to a six-month delay to the extent required by applicable law. Britton & Koontz had two salary continuation agreements funded in the amount of $465,000 at the time of acquisition in February 2014. The Bank will pay former executives of Britton & Koontz or their beneficiary over the next 15 years. Louisiana Bancorp also had two salary continuation agreements funded in the amount of $1,200,000 at the time of acquisition in September 2015. The Bank will pay former executives of Louisiana Bancorp or their beneficiary within the next year. The Company had an outstanding liability totaling $2,868,000 and $1,537,000 as of December 31, 2015 and 2014, respectively, in connection with the agreements. |
Stock-based Payment Arrangement
Stock-based Payment Arrangements | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Stock-based Payment Arrangements | 17. Stock-based Payment Arrangements The Company’s shareholders approved the 2009 Stock Option Plan (the “SOP”) and the 2009 Recognition and Retention Plan (the “RRP”) on May 12, 2009 to provide incentives and awards for directors, officers and other key employees of the Company and its subsidiary. A maximum of 892,687 shares of Company common stock were reserved for issuance upon the exercise of options granted under the 2009 SOP. A total of 357,075 shares of the Company’s outstanding common stock, or 4% of total shares outstanding at the time the RRP was implemented, were approved for restricted stock awards under the RRP. On May 6, 2014, the Company’s shareholders approved the 2014 Equity Incentive Plan (the “2014 Plan”). The 2014 Plan authorizes the granting of stock options, restricted stock units, and other awards to directors, officers and other key employees. The aggregate number of shares of our common stock reserved and available for issuance pursuant to awards granted under the 2014 Plan is 350,000. These plans are administered by a committee appointed by the Board of Directors, which selects persons eligible to receive awards and determines the number of shares and/or options subject to each award, the terms, conditions and other provisions of the awards. In accordance with ASC 718, the Company adopted a fair value based method of accounting for employee stock compensation plans, whereby compensation cost is measured as of the grant date based on the fair value of the award and is recognized over the service period, which is usually the vesting period. Stock Option Plans The Company issues stock options under the 2009 SOP and the 2014 Plan to directors, officers and other key employees. The option exercise price cannot be less than the fair value of the underlying common stock as of the date of the option grant and the maximum option term cannot exceed ten years. All stock options granted have been issued with vesting periods of five years with accelerated vesting provided under certain circumstances. As of December 31, 2015, options to acquire 561,583 shares were outstanding under the 2009 SOP and the 2014 Plan. The fair value of each option granted is estimated on the grant date using the Black-Scholes option pricing model. This model requires management to make certain assumptions, including the expected life of the option, the risk-free rate of interest, the expected volatility and the expected dividend yield. The following assumptions were made in estimating 2015 fair values: Expected dividends 1.3 % Expected volatility 21.62 % Risk-free interest rate 1.9 % Expected term (in years) 6.5 As of December 31, 2015, there was $288,000 of unrecognized compensation cost related to stock options which is expected to be recognized over a period of 3.4 years. For the years ended December 31, 2015, 2014 and 2013, the Company recognized $70,000, $295,000 and $681,000, respectively, in compensation cost related to stock options, which is included in compensation and benefits expense in the accompanying consolidated statements of income. The following table represents stock option activity for the year ended December 31, 2015. Options Number of Weighted- Weighted- Weighted- Outstanding as of January 1, 2015 793,170 $ 11.92 $ 3.90 Granted 42,910 22.35 4.80 Exercised (271,597 ) 11.56 3.78 Forfeited (3,200 ) 14.35 4.88 Outstanding as of December 31, 2015 561,283 $ 12.87 $ 4.02 4.2 Exercisable as of December 31, 2015 492,473 $ 11.82 $ 3.87 3.6 Restricted Stock Plans The Company has issued restricted stock under the 2009 RRP to directors, officers and other key employees. During 2009, the Company purchased in the open market all shares required to fund the 2009 RRP at an average cost of $11.81 per share. As of December 31, 2015, the cost of such shares held by the 2009 RRP totaled $158,590, which is included in the Company’s unallocated common stock held by the RRP in the consolidated statements of financial condition. Under the 2014 Plan, the Company may issue restricted stock units, restricted stock awards, options and other awards. Awards under the 2009 RRP and the 2014 Plan may not be sold or otherwise transferred until certain restrictions have lapsed. The unearned compensation related to these awards is amortized to compensation expense over the five-year vesting period. The total share-based compensation expense for these awards is determined based on the market price of the Company’s common stock as of the date of grant applied to the total number of shares granted and is amortized over the vesting period. As of December 31, 2015, unearned share-based compensation associated with these awards totaled $582,000. For the years ended December 31, 2015, 2014 and 2013, the Company recognized $51,000, $401,000 and $793,000, respectively, in compensation cost related to restricted stock and restricted stock units, which is included in compensation and benefits expense in the accompanying consolidated statements of income. The following table represents unvested restricted stock activity in for the year ended December 31, 2015. Number of Weighted-Average Balance, beginning of year 10,898 $ 16.74 Granted 24,615 22.26 Forfeited (400 ) 14.35 Released (3,700 ) 16.10 Balance, end of period 31,413 $ 21.17 |
Earnings Per Share
Earnings Per Share | 12 Months Ended |
Dec. 31, 2015 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | 18. Earnings Per Share Earnings per common share was computed based on the following: Years Ended December 31, (in thousands, except per share data) 2015 2014 2013 Numerator: Income applicable to common shares $ 12,550 $ 9,872 $ 7,294 Denominator: Weighted average common shares outstanding 6,708 6,553 6,591 Effect of dilutive securities: Restricted stock 4 25 55 Stock options 289 355 262 Weighted average common shares outstanding - assuming dilution 7,001 6,933 6,908 Earnings per common share $ 1.87 $ 1.51 $ 1.11 Earnings per common share - assuming dilution $ 1.79 $ 1.42 $ 1.06 Options on 45,877, 26,500 and 52,633 shares of common stock were not included in computing diluted earnings per share for the years ended December 31, 2015, 2014 and 2013, respectively, because the effect of these shares were anti-dilutive. |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2015 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | 19. Related Party Transactions Certain directors and officers of the Company are customers of the Company. Loan transactions with directors, officers and employees are made on the same terms as those prevailing at the time for comparable loans to other persons. Loans outstanding to directors, executive officers and their affiliates totaled $7,590,000 and $7,279,000 as of December 31, 2015 and 2014, respectively. A summary of related party loan activity during 2015 follows. (dollars in thousands) Balance, beginning of year $ 7,279 New loans 2,365 Repayments, net (2,054 ) Balance, end of year $ 7,590 None of the related party loans were identified as impaired or exceeded 5% of shareholders’ equity for the years ended 2015 or 2014. Related party deposits totaled $28,904,000 and $8,312,000 as of December 31, 2015 and 2014, respectively. |
Fair Value Disclosures
Fair Value Disclosures | 12 Months Ended |
Dec. 31, 2015 | |
Fair Value Disclosures [Abstract] | |
Fair Value Disclosures | 20. Fair Value Disclosures The Company values its financial assets and liabilities measured at fair value in three levels as required by ASC 820, Fair Value Measurements and Disclosures • Level 1 – Quoted prices in active markets for identical assets or liabilities. • Level 2 – Observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. • Level 3 – Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. This includes certain pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs. An asset’s or liability’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. Management reviews and updates the fair value hierarchy classifications of the Company’s assets and liabilities on a quarterly basis. Recurring Basis Investment Securities Available for Sale Fair values of investment securities available for sale are primarily measured using information from a third-party pricing service. This pricing service provides pricing information by utilizing evaluated pricing models supported with market data information. Standard inputs include benchmark yields, reported trades, broker/dealer quotes, issuer spreads, benchmark securities, bids, offers and reference data from market research publications. If quoted prices are available in an active market, investment securities are classified as Level 1 measurements. If quoted prices are not available in an active market, fair values were estimated primarily by the use of pricing models. Level 2 investment securities were primarily comprised of mortgage-backed securities issued by government agencies and U.S. government-sponsored enterprises. In certain cases, where there is limited or less transparent information provided by the Company’s third-party pricing service, fair value is estimated by the use of secondary pricing services or through the use of non-binding third-party broker quotes. Investment securities are classified within Level 3 when little or no market activity supports the fair value. Management primarily identifies investment securities which may have traded in illiquid or inactive markets by identifying instances of a significant decrease in the volume and frequency of trades, relative to historical levels, as well as instances of a significant widening of the bid-ask spread in the brokered markets. Investment securities that are deemed to have been trading in illiquid or inactive markets may require the use of significant unobservable inputs. For example, management may use quoted prices for similar investment securities in the absence of a liquid and active market for the investment securities being valued. As of December 31, 2015, management did not make adjustments to prices provided by the third-party pricing service as a result of illiquid or inactive markets. The following tables present the balances of assets and liabilities measured on a recurring basis as of December 31, 2015 and 2014 aggregated by the level in the fair value hierarchy in which these measurements fall. (dollars in thousands) December 31, 2015 Level 1 Level 2 Level 3 Available for sale securities: U.S. agency mortgage-backed $ 135,478 $ — $ 135,478 $ — Non-U.S. agency mortgage-backed 6,065 — 6,065 — Municipal bonds 22,933 — 22,933 — U.S. government agency 12,286 — 12,286 — Total $ 176,762 $ — $ 176,762 $ — (dollars in thousands) December 31, 2014 Level 1 Level 2 Level 3 Available for sale securities: U.S. agency mortgage-backed $ 121,498 $ — $ 121,498 $ — Non-U.S. agency mortgage-backed 7,764 — 7,764 — Municipal bonds 24,896 — 24,896 — U.S. government agency 20,643 — 20,643 — Total $ 174,801 $ — $ 174,801 $ — The Company did not record any liabilities at fair value for which measurement of the fair value was made on a recurring basis. Nonrecurring Basis In accordance with the provisions of ASC 310, Receivables The Company has segregated all financial assets and liabilities that are measured at fair value on a nonrecurring basis into the most appropriate level within the fair value hierarchy based on the inputs used to determine the fair value at the measurement date in the table below. Fair Value Measurements Using (dollars in thousands) December 31, 2015 Level 1 Level 2 Level 3 Assets Acquired loans with deteriorated credit quality $ 19,859 $ — $ — $ 19,859 Impaired loans excluding acquired loans 813 — — 813 Repossessed assets 3,128 — — 3,128 Total $ 23,800 $ — $ — $ 23,800 Fair Value Measurements Using (dollars in thousands) December 31, 2014 Level 1 Level 2 Level 3 Assets Acquired loans with deteriorated credit quality $ 31,908 $ — $ — $ 31,908 Impaired loans excluding acquired loans 1,843 — — 1,843 Repossessed assets 5,214 — — 5,214 Total $ 38,965 $ — $ — $ 38,965 ASC 820, Fair Value Measurements and Disclosures Fair value estimates are made at a specific point in time, based on relevant market information and information about the financial statement element. These estimates are subjective in nature and involve uncertainties and matters of significant judgment and therefore cannot be determined with precision. Changes in assumptions could significantly affect the estimates. Fair value estimates included herein are based on existing on- and off-balance-sheet financial instruments without attempting to estimate the value of anticipated future business and the fair value of assets and liabilities that are not required to be recorded or disclosed at fair value like premises and equipment. In addition, the tax ramifications related to the realization of the unrealized gains and losses can have a significant effect on fair value estimates and have not been considered in the estimates. The following methods and assumptions were used to estimate the fair value of each class of financial instruments for which it is practicable to estimate that value: The carrying value of cash and cash equivalents and interest-bearing deposits in banks approximate their fair value. The fair value for investment securities is determined from quoted market prices when available. If a quoted market price is not available, fair value is estimated using third party pricing services or quoted market prices of securities with similar characteristics. The carrying value of mortgage loans held for sale are recorded at the lower of aggregate cost or market value, which is a reasonable estimate of fair value. The fair value of loans are estimated by discounting the future cash flows using the current rates at which similar loans would be made to borrowers with similar credit ratings and for the same remaining maturity. The cash surrender value of bank-owned life insurance (“BOLI”) approximates its fair value. The fair value of demand deposits, savings and interest-bearing demand deposits is the amount payable on demand. The fair value of fixed-maturity certificates of deposit is estimated by discounting the future cash flows using the rates currently offered for deposits of similar remaining maturities. The carrying amount of the FHLB advances is estimated using the rates currently offered for advances of similar maturities. The carrying value of the securities sold under repurchase agreement is its fair value. The fair value of off-balance sheet financial instruments as of December 31, 2015 and 2014 was immaterial. Fair Value Measurements at December 31, 2015 Carrying (dollars in thousands) Amount Total Level 1 Level 2 Level 3 Financial Assets Cash and cash equivalents $ 24,798 $ 24,798 $ 24,798 $ — $ — Interest-bearing deposits in banks 5,144 5,144 5,144 — — Investment securities available for sale 176,762 176,762 — 176,762 — Investment securities held to maturity 13,927 14,121 — 14,121 — Mortgage loans held for sale 5,651 5,651 — 5,651 — Loans, net 1,214,818 1,216,370 — — 1,216,370 Cash surrender value of BOLI 19,667 19,667 19,667 — — Financial Liabilities Deposits $ 1,244,217 $ 1,243,698 $ — $ 1,243,698 $ — Short-term FHLB advances 39,939 39,939 39,939 — — Long-term FHLB advances 85,213 84,711 — 84,711 — Securities sold under repurchase agreements — — — — — Fair Value Measurements at December 31, 2014 Carrying (dollars in thousands) Amount Total Level 1 Level 2 Level 3 Financial Assets Cash and cash equivalents $ 29,078 $ 29,078 $ 29,078 $ — $ — Interest-bearing deposits in banks 5,526 5,526 5,526 — — Investment securities available for sale 174,801 174,801 — 174,801 — Investment securities held to maturity 11,705 11,889 — 11,889 — Mortgage loans held for sale 4,517 4,517 — 4,517 — Loans, net 901,208 908,346 — — 908,346 Cash surrender value of BOLI 19,163 19,163 19,163 — — Financial Liabilities Deposits $ 993,573 $ 993,994 $ — $ 924,816 $ 69,178 Short-term FHLB advances 31,000 31,000 31,000 — — Long-term FHLB advances 16,500 16,987 — 16,987 — Securities sold under repurchase agreements 20,371 20,371 — — 20,371 |
Condensed Parent Company Only F
Condensed Parent Company Only Financial Statements | 12 Months Ended |
Dec. 31, 2015 | |
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |
Condensed Parent Company Only Financial Statements | 21. Condensed Parent Company Only Financial Statements Condensed financial statements of Home Bancorp, Inc. (parent company only) are shown below. The parent company has no significant operating activities. Condensed Balance Sheets December 31, 2015 and 2014 (dollars in thousands) 2015 2014 Assets Cash in bank $ 19,512 $ 2,668 Investment in subsidiary 148,172 150,883 Other assets 1,333 708 Total assets $ 169,017 $ 154,259 Liabilities $ 3,971 $ 115 Shareholders’ equity 165,046 154,144 Total liabilities and shareholders’ equity $ 169,017 $ 154,259 Condensed Statements of Operations For the Years Ended December 31, 2015, 2014 and 2013 (dollars in thousands) 2015 2014 2013 Operating income Interest income $ — $ 1 $ 44 Gain on sale of investment — — 241 Dividend from subsidiary 72,500 40,000 — Total operating income 72,500 40,001 285 Operating expenses Interest expenses — 5 — Other expenses 142 147 155 Total operating expenses 142 152 155 Income before income tax expense and equity in undistributed earnings of subsidiary 72,358 39,849 130 Income tax (benefit) expense (57 ) (61 ) 52 Income before equity in undistributed earnings of subsidiary 72,415 39,910 78 (Dividends received in excess of earnings of subsidiary) Undistributed earnings of subsidiary (59,865 ) (30,038 ) 7,216 Net income $ 12,550 $ 9,872 $ 7,294 Condensed Statements of Cash Flows For the Years Ended December 31, 2015, 2014 and 2013 (dollars in thousands) 2015 2014 2013 Cash Flows from Operating Activities Net income $ 12,550 $ 9,872 $ 7,294 Adjustments to reconcile net income to net cash provided by operating activities: Net amortization of premium/discount on investments — — (3 ) Gain on sale of investment securities — — (241 ) Non-cash compensation 999 805 652 Increase in accrued interest and other assets (624 ) (58 ) (21 ) Dividends received in excess of earnings from subsidiary (undistributed earnings in subsidiary) 59,865 30,038 (7,216 ) Increase (decrease) in accrued expenses and other liabilities 3,855 (226 ) (189 ) Net Cash Provided by Operating Activities 76,645 40,431 276 Cash Flows from Investing Activities Proceeds from prepayment on available for sale securities — — 312 Proceeds from sale of available for sale securities — — 3,837 Net cash paid in acquisitions (57,455 ) (37,597 ) — Net Cash Provided by (Used in) Investing Activities (57,455 ) (37,597 ) 4,149 Cash Flows from Financing Activities Proceeds from exercise of stock options 3,282 581 91 Payment of dividends on common stock (2,162 ) (499 ) — Purchase of Company’s common stock (3,466 ) (561 ) (6,291 ) Net Cash Used in Financing Activities (2,346 ) (479 ) (6,200 ) Net Increase (Decrease) in Cash and Cash Equivalents 16,844 2,355 (1,775 ) Cash and Cash Equivalents as of Beginning of Period 2,668 313 2,088 Cash and Cash Equivalents as of End of Period $ 19,512 $ 2,668 $ 313 |
Consolidated Quarterly Results
Consolidated Quarterly Results of Operations | 12 Months Ended |
Dec. 31, 2015 | |
Quarterly Financial Information Disclosure [Abstract] | |
Consolidated Quarterly Results of Operations | 22. Consolidated Quarterly Results of Operations (unaudited) First Second Third Fourth (dollars in thousands, except per share data) Quarter Quarter Quarter Quarter Year Ended December 31, 2015 Total interest income $ 13,305 $ 13,588 $ 14,425 $ 17,092 Total interest expense 814 823 894 1,335 Net interest income 12,491 12,765 13,531 15,757 Provision for loan losses 538 294 569 670 Net interest income after provision for loan losses 11,953 12,471 12,962 15,087 Noninterest income 2,079 2,039 2,197 2,455 Noninterest expense 9,719 10,228 10,522 11,553 Income before income taxes 4,313 4,282 4,637 5,989 Income tax expense 1,465 1,441 1,739 2,026 Net income $ 2,848 $ 2,841 $ 2,898 $ 3,963 Earnings per share – basic $ 0.43 $ 0.42 $ 0.43 $ 0.59 Earnings per share – diluted $ 0.41 $ 0.41 $ 0.41 $ 0.56 First Second Third Fourth (dollars in thousands, except per share data) Quarter Quarter Quarter Quarter Year Ended December 31, 2014 Total interest income $ 12,566 $ 13,940 $ 14,068 $ 13,749 Total interest expense 755 838 856 835 Net interest income 11,811 13,102 13,212 12,914 Provision for loan losses 145 811 892 516 Net interest income after provision for loan losses 11,666 12,291 12,320 12,398 Noninterest income 1,656 2,252 2,161 2,106 Noninterest expense 11,257 10,370 9,968 10,177 Income before income taxes 2,065 4,173 4,513 4,327 Income tax expense 631 1,420 1,637 1,518 Net income $ 1,434 $ 2,753 $ 2,876 $ 2,809 Earnings per share – basic $ 0.22 $ 0.42 $ 0.44 $ 0.43 Earnings per share – diluted $ 0.21 $ 0.40 $ 0.41 $ 0.40 |
Summary of Significant Accoun31
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2015 | |
Accounting Policies [Abstract] | |
Principles of Consolidation | Principles of Consolidation The consolidated financial statements include the accounts of the Company and the Bank. All significant intercompany balances and transactions have been eliminated in consolidation. |
Use of Estimates | Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles in the United States (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near term include, but are not limited to, the determination of the allowance for loan losses, income taxes, valuation of investments with other-than-temporary impairment, acquisition accounting valuations and valuation of share-based compensation. |
Cash and Cash Equivalents | Cash and Cash Equivalents For purposes of reporting cash flows, cash and cash equivalents include cash on hand, due from banks and interest-bearing deposits with the FHLB. The Company considers all highly liquid debt instruments with original maturities of three months or less (excluding interest-bearing deposits in banks) to be cash equivalents. The Bank is required to maintain cash reserves with the Federal Reserve Bank. The requirement is dependent upon the Bank’s cash on hand or noninterest-bearing balances. There was no reserve requirement as of December 31, 2015. The reserve requirement as of December 31, 2014 was $6,742,000 and the Bank was in compliance at such date. |
Investment Securities | Investment Securities The Company follows the guidance under the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 320, Investments – Debt and Equity Securities Investment securities that are acquired with the intention of being resold in the near term are classified as trading securities under ASC 320 and are carried at fair value, with unrealized holding gains and losses recognized in current earnings. The Company did not hold any securities for trading purposes at, or during the years ended, December 31, 2015 or 2014. Securities not meeting the criteria of either trading securities or held to maturity are classified as available for sale and are carried at fair value. Unrealized holding gains and losses for these securities are recognized, net of related income tax effects in the Consolidated Statements of Comprehensive Income. Interest income earned on securities either held to maturity or available for sale is included in current earnings, including the amortization of premiums and the accretion of discounts using the interest method. Premiums and discounts are amortized or accreted over the life of the related security as an adjustment to the yield. The gain or loss realized on the sale of securities classified as available for sale or held to maturity, as determined using the specific identification method for determining the cost of the securities sold, is computed with reference to its amortized cost and is also included in current earnings. The Company reviews investment securities for other-than-temporary impairment quarterly. Impairment is considered to be other-than-temporary if it is likely that all amounts contractually due will not be received for debt securities and when there is no positive evidence indicating that an investment’s carrying amount is recoverable in the near term for equity securities. When a decline in the fair value of available for sale and held to maturity securities below cost is deemed to be credit related, a charge for other-than-temporary impairment is included in earnings as “Other-than-temporary impairment of securities”. The decline in fair value attributed to non-credit related factors is recognized in other comprehensive income and a new cost basis for the security is established. The new cost basis is not changed for subsequent recoveries in fair value. Increases and decreases between fair value and cost on available for sale securities are reflected in the Consolidated Statements of Comprehensive Income. In evaluating whether impairment is temporary or other-than-temporary, the Company considers, among other things, the time period the security has been in an unrealized loss position; the financial condition of the issuer and its industry; recommendations of investment advisors; economic forecasts; market or industry trends; changes in tax laws, regulations, or other governmental policies significantly affecting the issuer; any downgrades from rating agencies; and any reduction or elimination of dividends. The Company’s intent and ability to hold a security for a period of time sufficient to allow for any anticipated recovery in fair value is also considered. |
Loans Held for Sale | Loans Held for Sale The Company sells mortgage loans and loan participations for an amount equal to the principal amount of loans or participations with yields to investors based upon current market rates. Realized gains and losses related to loan sales are included in noninterest income. The Company allocates the cost to acquire or originate a mortgage loan between the loan and the right to service the loan if it intends to sell or securitize the loan and retain servicing rights. In addition, the Company periodically assesses capitalized mortgage servicing rights for impairment based on the fair value of such rights. To the extent that temporary impairment exists, write-downs are recognized in current earnings as an adjustment to the corresponding valuation allowance. Permanent impairment is recognized through a write-down of the asset with a corresponding reduction in the valuation allowance. For purposes of performing its impairment evaluation, the portfolio is stratified on the basis of certain risk characteristics, including loan type and interest rates. Capitalized servicing rights are amortized over the period of, and in proportion to, estimated net servicing income, which considers appropriate prepayment assumptions. For financial reporting purposes, the Company classifies a portion of its loans as “Mortgage loans held for sale.” Included in this category are loans which the Company has the current intent to sell and loans which are available to be sold in the event that the Company determines that loans should be sold to support the Company’s investment and liquidity objectives, as well as to support its overall asset and liability management strategies. Loans included in this category for which the Company has the current intention to sell are recorded at the lower of aggregate cost or fair value. As of December 31, 2015 and 2014, the Company had $5,651,000 and $4,517,000, respectively, in loans classified as “Mortgage loans held for sale.” As of December 31, 2015 and 2014 the Company had $226,379,000 and $103,447,000, respectively, outstanding in loans sold to government agencies that it was servicing through a third party. |
Loans | Loans The following briefly describes the distinction between originated and acquired loans and certain significant accounting policies relevant to each category. Originated Loans Loans are carried net of discounts on loan originations are amortized using the level yield interest method over the remaining contractual life of the loan. Nonrefundable loan origination fees, net of direct loan origination costs, are deferred and recognized over the life of the loan as an adjustment of yield using the interest method. Interest on loans receivable is accrued as earned using the interest method over the life of the loan. Interest on loans deemed uncollectible is excluded from income. The accrual of interest is discontinued and reversed against current income once loans become more than 90 days past due or earlier if conditions warrant. The past due status of loans is determined based on the contractual terms. When a loan is placed on nonaccrual status, previously accrued and uncollected interest is charged against interest income on loans. Interest payments are applied to reduce the principal balance on nonaccrual loans. Loans are returned to accrual status when all past due payments are received in full and future payments are probable. Third party property valuations are obtained at the time of origination for real estate secured loans. When a determination is made that a loan has deteriorated to the point of being deemed a criticized or classified loan, updated valuations may be ordered to help determine if there is impairment, which may lead to a recommendation for partial charge off or appropriate allowance allocation. Property valuations are ordered through, and reviewed by, the Company’s Appraisal and Review Department. The Company typically orders an “as is” valuation for collateral property if the loan is in a criticized loan classification. Loans, or portions of loans, are charged off in the period that such loans, or portions thereof, are deemed uncollectible. The collectability of individual loans is determined through an estimate of the fair value of the underlying collateral and/or assessment of the financial condition and repayment capacity of the borrower. Acquired Loans Acquired loans at December 31, 2015 and 2014 are those associated with our acquisition of Statewide, GSFC, Britton & Koontz and Louisiana Bancorp. These loans were recorded at estimated fair value at the acquisition date with no carryover of the related allowance for loan losses. The acquired loans were segregated between those considered to be performing (“acquired performing”) and those with evidence of credit deterioration (“acquired impaired”), and then further segregated into loan pools designed to facilitate the development of expected cash flows. The fair value estimate for each pool of acquired performing and acquired impaired loans was based on the estimate of expected cash flows, both principal and interest, from that pool, discounted at prevailing market interest rates. The difference between the fair value of an acquired performing loan pool and the contractual amounts due at the acquisition date (the “fair value discount”) is accreted into income over the estimated life of the pool. Management estimates an allowance for loan losses for acquired performing loans using a methodology similar to that used for originated loans. The allowance determined for each loan pool is compared to the remaining fair value discount for that pool. If the allowance amount calculated under the Company’s methodology is greater than the Company’s remaining discount, the additional amount called for is added to the reported allowance through a provision for loan losses. If the allowance amount calculated under the Company’s methodology is less than the Company’s recorded discount, no additional allowance or provision is recognized. Actual losses first reduce any remaining fair value discount for the loan pool. Once the discount is fully depleted, losses are applied against the allowance established for that pool. Acquired performing loans are placed on nonaccrual status and considered and reported as nonperforming or past due using the same criteria applied to the originated portfolio. The excess of cash flows expected to be collected from an acquired impaired loan pool over the pool’s estimated fair value at acquisition is referred to as the accretable yield and is recognized in interest income using an effective yield method over the remaining life of the pool. Each pool of acquired impaired loans is accounted for as a single asset with a single composite interest rate and an aggregate expectation of cash flows. Management recasts the estimate of cash flows expected to be collected on each acquired impaired loan pool periodically. If the present value of expected cash flows for a pool is less than its carrying value, an impairment is recognized by an increase in the allowance for loan losses and a charge to the provision for loan losses. If the present value of expected cash flows for a pool is greater than its carrying value, any previously established allowance for loan losses is reversed and any remaining difference increases the accretable yield which will be taken into interest income over the remaining life of the loan pool. Acquired impaired loans are generally not subject to individual evaluation for impairment and are not reported with impaired loans, even if they would otherwise qualify for such treatment. Certain loans purchased in the Statewide acquisition are covered by loss sharing agreements between the FDIC and the Company. Historically, the Company has referred to loans subject to loss share agreements with the FDIC as “covered loans.” However, in March 2015, a significant portion of the loss share agreements had expired and any future losses on these formerly covered loans are no longer eligible for reimbursement from the FDIC. As of December 31, 2015, only residential mortgage loans acquired from Statewide remained subject to loss sharing agreements with the FDIC. The Company’s remaining loans subject to loss sharing agreements with the FDIC amounted to approximately $3.7 million, or less than 0.2% of the Company’s total loan portfolio, at such date. Given the limited amount of covered loans remaining, the Company is no longer reporting such loans as “covered loans,” and they are included in “acquired loans.” |
Allowance for Loan Losses | Allowance for Loan Losses The allowance for loan losses on loans in our portfolio is maintained at an amount which management believes covers the reasonably estimable and probable losses on such portfolio. The allowance for loan losses is comprised of specific and general reserves. The Company determines specific reserves based on the provisions of ASC 310, Receivables While management uses available information to make loan loss allowance evaluations, adjustments to the allowance may be necessary based on changes in economic and other conditions or changes in accounting guidance. The OCC, as an integral part of its examination processes, periodically reviews the allowance for loan losses. The OCC may require the recognition of adjustments to the allowance for loan losses based on their judgment of information available to them as of the time of their examinations. To the extent the OCC’s estimates differ from management’s estimates, additional provisions to the allowance for loan losses may be required as of the time of their examination. As part of the risk management program, an independent review is performed on the loan portfolio, which supplements management’s assessment of the loan portfolio and the allowance for loan losses. The result of the independent review is reported directly to the Audit Committee of the Board of Directors. |
Repossessed Assets | Repossessed Assets Repossessed assets are recorded at fair value less estimated selling costs at the date acquired or upon receiving new property valuations. Costs relating to the development and improvement of foreclosed property are capitalized, and costs relating to holding and maintaining the property are expensed. Write-downs from cost to fair value at the date s |
Federal Home Loan Bank Stock | Federal Home Loan Bank Stock As a member of the FHLB, the Bank is required to maintain a minimum investment in its stock that varies with the level of FHLB advances outstanding. The stock is bought from and sold to the FHLB based upon its $100 par value. The stock does not have a readily determinable fair value and as such is classified as restricted stock, carried at cost and evaluated for impairment in accordance with GAAP. The stock’s value is determined by the ultimate recoverability of the par value rather than by recognizing temporary declines. The determination of whether the par value will ultimately be recovered is influenced by criteria such as: (a) the significance of the decline in net assets of the FHLB as compared to the capital stock amount and the length of time this situation has persisted, (b) commitments by the FHLB to make payments required by law or regulation and the level of such payments in relation to the operating performance, (c) the impact of legislative and regulatory changes on the customer base of the FHLB and (d) the liquidity position of the FHLB. |
Office Properties and Equipment | Office Properties and Equipment Office properties and equipment are stated at cost less accumulated depreciation. Depreciation is computed using the straight-line method with rates based on the estimated useful lives of the individual assets, which range from 3 to 40 years. Expenditures which substantially increase the useful lives of existing property and equipment are capitalized while routine expenditures for repairs and maintenance are expensed as incurred. |
Cash Surrender Value of Bank-owned Life Insurance | Cash Surrender Value of Bank-owned Life Insurance Life insurance contracts represent single premium life insurance contracts on the lives of certain officers of the Bank. The Bank is the beneficiary of these policies. These contracts are reported at their cash surrender value and changes in the cash surrender value are included in noninterest income. |
Intangible Assets | Intangible Assets Intangible assets consist of goodwill, core deposit intangibles and mortgage servicing rights. These assets are recorded in accrued interest receivable and other assets on the Consolidated Statements of Financial Condition. Goodwill represents the excess purchase price over the fair value of net assets acquired in business acquisitions. Goodwill is not amortized but rather is evaluated for impairment at least annually. Core deposit intangibles represent the estimated value related to customer deposit relationships assumed in the Company’s acquisitions. Core deposit intangibles are being amortized over nine to 15 years. The mortgage servicing rights represent servicing assets related to mortgage loans sold and serviced at fair value. Mortgage servicing rights are being amortized over a maximum of 10 years using an accelerated method. |
Shareholders' Equity | Shareholders’ Equity Effective January 1, 2015, companies incorporated under Louisiana law became subject to the Louisiana Business Corporation Act. Provisions of the Louisiana Business Corporation Act eliminate the concept of treasury stock and provide that shares reacquired by a company are to be treated as authorized but unissued shares. Accounting principles generally accepted in the United States of America state that accounting for treasury stock shall conform to state law. The Company’s Consolidated Financial Statements at and for the year ended December 31, 2015 reflect this change. As of December 31, 2015, the cost of shares repurchased by the Company has been allocated to common stock, additional paid-in capital and retained earnings. |
Transfer of Financial Assets | Transfer of Financial Assets Transfers of financial assets are accounted for as sales when control over the assets has been relinquished. Control over transferred assets is deemed to be surrendered when the assets have been isolated from the Company, the transferee obtains the right, free of conditions that constrain it from taking advantage of that right, to pledge or exchange the transferred assets and the Company does not maintain effective control over the transferred assets through an agreement to repurchase them before maturity. |
Salary Continuation Agreements | Salary Continuation Agreements The Company records the expense associated with its salary continuation agreements over the service periods of the persons covered under these agreements. |
Income Taxes | Income Taxes The Company accounts for income taxes under the liability method. Deferred tax assets and liabilities are recorded for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Future tax benefits are recognized to the extent that realization of such benefits is more likely than not. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which the assets and liabilities are expected to be recovered or settled. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income taxes during the period that includes the enactment date. In the event the future tax consequences of differences between the financial reporting bases and the tax bases of the Company’s assets and liabilities results in deferred tax assets, an evaluation of the probability of being able to realize the future benefits indicated by such asset is required. A valuation allowance is provided for the portion of the deferred tax asset when it is more likely than not that some or all of the deferred tax asset will not be realized. In assessing the realizability of the deferred tax assets, management considers the scheduled reversals of deferred tax liabilities, projected future taxable earnings and tax planning strategies. The income tax benefit or expense is the total of the current year income tax due or refundable and the change in deferred tax assets and liabilities. A tax position is recognized as a benefit only if it is more likely than not that the tax position would be sustained in a tax examination, with a tax examination presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50 percent likely of being realized on examination. For tax positions not meeting the more likely than not test, no tax benefit is recorded. The Company recognizes interest and penalties accrued related to unrecognized tax benefits, if applicable, in noninterest expense. During the years ended December 31, 2015, 2014, and 2013, the Company did not recognize any interest or penalties in its financial statements, nor has it recorded an accrued liability for interest or penalty payments. |
Stock-based Compensation Plans | Stock-based Compensation Plans The Company issues stock options under the 2009 Stock Option Plan and the 2014 Equity Incentive Plan to directors, officers and other key employees. In accordance with the requirements of ASC 718, Compensation – Stock Compensation The Company may issue restricted stock under the 2009 Recognition and Retention Plan and restricted stock or restricted stock units under the 2014 Equity Incentive Plan for directors, officers and other key employees. Awards under the plans may not be sold or otherwise transferred until certain restrictions have lapsed. The unearned compensation related to these awards is amortized to compensation expense over the service period, which is usually the vesting period. The total share-based compensation expense for these awards is determined based on the market price of the Company’s common stock as of the date of grant applied to the total number of shares granted and is amortized over the vesting period. |
Earnings Per Share | Earnings Per Share Earnings per share represents income available to common shareholders divided by the weighted-average number of common shares outstanding during the period. Diluted earnings per share reflects additional common shares that would have been outstanding if dilutive potential common shares had been issued, as well as any adjustment to income that would result from the assumed issuance. |
Comprehensive Income | Comprehensive Income GAAP generally requires that recognized revenues, expenses, gains and losses be included in net earnings. Although certain changes in assets and liabilities, such as unrealized gains and losses on available for sale securities, are reported as a separate component of the equity section of the balance sheets, such items, along with net earnings, are components of comprehensive income. The tax effect for unrealized gains and losses on investment securities was ($230,670), $598,203 and ($1,413,095) for the periods ending December 31, 2015, 2014 and 2013, respectively. The reclassification adjustment for gains included in net income had a tax effect of ($2,548), ($639) and ($149,870) for the periods ending December 31, 2015, 2014 and 2013. Comprehensive income is reflected in the Consolidated Statements of Comprehensive Income. |
Reclassifications | Reclassifications Certain reclassifications have been made to prior period balances to conform to the current period presentation. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements In August 2014, the FASB issued ASU 2014-15, “Presentation of Financial Statements – Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern.” ASU 2014-15 requires companies to evaluate whether there are conditions and events that raise substantial doubt about the entity’s ability to continue as a going concern within one year after the financial statements are issued. Management will be required to make the evaluation and disclose for both annual and interim reporting periods. The ASU is effective for interim and annual periods after December 15, 2016. The adoption of this ASU is not expected to have a material effect on our Consolidated Financial Statements. In February 2015, the FASB issued ASU 2015-02, “Amendments to the Consolidation Analysis,” which eliminates the deferral of certain investments in variable interest entities. ASU 2015-02 will allow companies with interests in certain investment funds to follow preceding consolidation guidance and make changes to the variable interest model and the voting model. The ASU is effective for annual and interim periods beginning after December 15, 2015. The adoption of this ASU is not expected to have a material effect on our Consolidated Financial Statements. In September 2015, the FASB issued ASU 2015-16, “Simplifying the Accounting for Measurement-Period Adjustments”. The guidance eliminates the requirement that an acquirer in a business combination account for measurement-period adjustments retrospectively. The ASU is effective for annual and interim periods beginning after December 15, 2015. The adoption of this ASU is not expected to have a material effect on our Consolidated Financial Statements. In January 2016, the FASB issued ASU 2016-01, “Recognition and Measurement of Financial Assets and Financial Liabilities”. The ASU amendments include changes related to how certain equity investments are measured, recognize changes in the fair value of financial certain liabilities measured under the fair value option, and disclose and present financial assets and liabilities on the Company’s consolidated financial statements. Additionally, the ASU will also require entities to present financial assets and financial liabilities separately, grouped by measurement category and form of financial asset in the statement of financial position or in the accompanying notes to the financial statements. Entities will also no longer have to disclose the methods and significant assumptions for financial instruments measured at amortized cost, but will be required to measure such instruments under the “exit price” notion for disclosure purposes. The ASU is effective for annual and interim periods beginning after December 15, 2017. The adoption of this ASU is not expected to have a material effect on our Consolidated Financial Statements. In February 2016, the FASB issued ASU 2016-02, “Conforming Amendments Related to Leases”. This ASU amends the codification regarding leases in order to increase transparency and comparability. The ASU requires companies to recognize lease assets and liabilities on the statement of condition and disclose key information about leasing arrangements. A lessee would recognize a liability to make lease payments and a right-of-use asset representing its right to use the leased asset for the lease term. The ASU is effective for annual and interim periods beginning after December 15, 2018. The adoption of this ASU is not expected to have a material effect on our Consolidated Financial Statements. |
Business Combinations | The acquisition was accounted for under the acquisition method of accounting in accordance with ASC 805, Business Combinations |
Fair Value Measurements and Disclosures | The Company values its financial assets and liabilities measured at fair value in three levels as required by ASC 820, Fair Value Measurements and Disclosures • Level 1 – Quoted prices in active markets for identical assets or liabilities. • Level 2 – Observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. • Level 3 – Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. This includes certain pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs. |
Receivables | Nonrecurring Basis In accordance with the provisions of ASC 310, Receivables |
Acquisition Activity (Tables)
Acquisition Activity (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Estimated Condensed Consolidated Results of Operations | The following pro forma information for the years 2015 and 2014 reflects the Company’s estimated condensed consolidated results of operations as if the acquisition of Louisiana Bancorp occurred at January 1, 2014, unadjusted for potential cost savings. (dollars in thousands except per share information) 2015 2014 Net interest income $ 62,430 $ 61,346 Noninterest income 10,115 10,226 Noninterest expense 47,563 49,722 Net income 14,960 12,633 Earnings per share – basic $ 2.23 $ 1.93 Earnings per share – diluted 2.14 1.82 |
Summary of the Accretable Yield on the Loans Acquired from Britton and Koontz with Deteriorated Credit Quality | The following table summarizes the accretable yield on the loans acquired from GSFC with deteriorated credit quality as of July 15, 2011 and the changes therein through December 31, 2015. (dollars in thousands) 2015 2014 2013 Balance, beginning of period $ (1,270 ) $ (1,281 ) $ (839 ) Acquisition accretable yield — — — Accretion 2 11 133 Net transfers from nonaccretable difference to accretable yield 1,218 — (575 ) Balance, end of period $ (50 ) $ (1,270 ) $ (1,281 ) |
Summary of the Accretable Yield on the Acquired Loans | The following table summarizes the accretable yield on the loans acquired from Statewide as of December 31, 2011 and the changes therein through December 31, 2015. (dollars in thousands) 2015 2014 2013 Balance, beginning of period $ (7,706 ) $ (2,134 ) $ (3,973 ) Acquisition accretable yield — — — Accretion 3,238 8,121 5,417 Net transfers from nonaccretable difference to accretable yield 203 (13,693 ) (3,578 ) Balance, end of period $ (4,265 ) $ (7,706 ) $ (2,134 ) |
Britton & Koontz Capital Corporation [Member] | |
Assets Acquired and Liabilities Assumed, as Well as the Adjustments to Record the Assets and Liabilities at Fair Value | The assets acquired and liabilities assumed, as well as the adjustments to record the assets and liabilities at fair value, are presented in the following table as of September 15, 2015. (dollars in thousands) As Acquired Fair Value As recorded by Assets Cash and cash equivalents $ 14,098 $ — $ 14,098 Investment securities 35,794 626 (a) 36,420 Loans 281,909 (326 ) (b) 281,583 Repossessed assets 64 1 (c) 65 Office properties and equipment, net 3,349 2,989 (d) 6,338 Core deposit intangible — 1,586 (e) 1,586 Other assets 10,747 302 (f) 11,049 Total assets acquired $ 345,961 $ 5,178 $ 351,139 Liabilities Interest-bearing deposits $ 180,318 $ 37 (g) $ 180,355 Noninterest-bearing deposits 28,315 — 28,315 FHLB advances 75,754 203 (h) 75,957 Other liabilities 5,993 693 (i) 6,686 Total liabilities assumed $ 290,380 $ 933 $ 291,313 Excess of assets acquired over liabilities assumed 59,826 Cash consideration paid (70,021 ) Total goodwill recorded $ 10,195 (a) The adjustment represents the market value adjustments on Louisiana Bancorp’s investments based on their interest rate risk and credit risk. (b) The adjustment to reflect the fair value of loans includes: • Adjustment of $2.4 million to reflect the removal of Louisiana Bancorp’s allowance for loan losses in accordance with ASC 805. • Adjustment of ($2.7 million) for all loans determined not to be within the scope of ASC 310-30. In determining the fair value of the loans which are not within the scope of ASC 310-30, the acquired loan portfolio was evaluated based on risk characteristics and other credit and market criteria to determine a credit quality adjustment to the fair value of the loans acquired. The acquired loan balance was reduced by the aggregate amount of the credit quality adjustment in determining the fair value of the loans. (c) The adjustment represents the write up of the book value of Louisiana Bancorp’s repossessed assets to their estimated fair value, as adjusted for estimated costs to sell. (d) The adjustment represents the adjustment of Louisiana Bancorp’s office properties and equipment to their estimated fair value at the acquisition date. (e) The adjustment represents the value of the core deposit base assumed in the acquisition. The core deposit asset was recorded as an identifiable intangible asset and will be amortized on an accelerated basis over the estimated life of the deposit base of 15 years. (f) The adjustment is to record the deferred tax asset on the transaction and the estimated fair value on other assets. (g) The adjustment represents the fair value of certificates of deposit acquired based on current interest rates for similar instruments. The adjustment will be recognized using a level yield amortization method based on maturities of the deposit liabilities. (h) The adjustment is to record the fair value of FHLB advances acquired at various terms and maturities based on market rates at the acquisition date. The adjustment will be recognized using a level yield amortization method based on maturities of the borrowings. (i) The adjustment is to accrue all the liabilities owed by Louisiana Bancorp payable at the acquisition date. |
Summary of the Accretable Yield on the Loans Acquired from Britton and Koontz with Deteriorated Credit Quality | The following table summarizes the accretable yield on the loans acquired from Britton & Koontz with deteriorated credit quality as of February 14, 2014 and the changes therein through December 31, 2015. (dollars in thousands) 2015 2014 Balance, beginning of period $ (1,824 ) $ — Acquisition accretable yield — (2,260 ) Accretion 590 436 Net transfers from nonaccretable difference to accretable yield (448 ) — Balance, end of period $ (1,682 ) $ (1,824 ) |
Investment Securities (Tables)
Investment Securities (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Investments, Debt and Equity Securities [Abstract] | |
Summary Information Regarding Company's Investment Securities Classified as Available for Sale and Held to Maturity | Summary information regarding the Company’s investment securities classified as available for sale and held to maturity as of December 31, 2015 and 2014 follows. (dollars in thousands) Amortized Gross Gross Unrealized Fair Value December 31, 2015 Less Than Over 1 Available for sale: U.S. agency mortgage-backed $ 134,748 $ 1,464 $ 287 $ 447 $ 135,478 Non-U.S. agency mortgage-backed 6,055 51 — 41 6,065 Municipal bonds 22,453 490 10 — 22,933 U.S. government agency 12,166 145 25 — 12,286 Total available for sale $ 175,422 $ 2,150 $ 322 $ 488 $ 176,762 Held to maturity: Municipal bonds $ 13,927 $ 239 $ 45 $ — $ 14,121 Total held to maturity $ 13,927 $ 239 $ 45 $ — $ 14,121 (dollars in thousands) Amortized Gross Gross Unrealized Fair Value December 31, 2014 Less Than Over 1 Available for sale: U.S. agency mortgage-backed $ 120,009 $ 1,984 $ 10 $ 485 $ 121,498 Non-U.S. agency mortgage-backed 7,757 61 28 26 7,764 Municipal bonds 24,388 561 2 51 24,896 U.S. government agency 20,639 190 — 186 20,643 Total available for sale $ 172,793 $ 2,796 $ 40 $ 748 $ 174,801 Held to maturity: Municipal bonds $ 11,705 $ 202 $ 3 $ 15 $ 11,889 Total held to maturity $ 11,705 $ 202 $ 3 $ 15 $ 11,889 |
Amortized Cost and Estimated Fair Value by Maturity of Company's Investment Securities | The amortized cost and estimated fair value by maturity of the Company’s investment securities as of December 31, 2015 are shown in the following tables. Securities are classified according to their contractual maturities without consideration of principal amortization, potential prepayments or call options. The expected maturity of a security may differ from its contractual maturity because of the exercise of call options and potential paydowns. Accordingly, actual maturities may differ from contractual maturities. (dollars in thousands) One Year or Less After One After Five After Ten Total Fair Value Securities available for sale: U.S. agency mortgage-backed $ 1 $ 5,381 $ 31,930 $ 98,166 $ 135,478 Non-U.S. agency mortgage-backed — — — 6,065 6,065 Municipal bonds 930 7,765 12,032 2,206 22,933 U.S. government agency — 8,016 — 4,270 12,286 Total securities available for sale $ 931 $ 21,162 $ 43,962 $ 110,707 $ 176,762 Securities held to maturity: Municipal bonds $ 237 $ 1,105 $ 8,783 $ 3,996 $ 14,121 Total securities held to maturity $ 237 $ 1,105 $ 8,783 $ 3,996 $ 14,121 (dollars in thousands) One Year or Less After One After Five After Ten Years Total Amortized Cost Securities available for sale: U.S. agency mortgage-backed $ 1 $ 5,296 $ 31,859 $ 97,592 $ 134,748 Non-U.S. agency mortgage-backed — — — 6,055 6,055 Municipal bonds 928 7,615 11,809 2,101 22,453 U.S. government agency — 7,988 — 4,178 12,166 Total securities available for sale $ 929 $ 20,899 $ 43,668 $ 109,926 $ 175,422 Securities held to maturity: Municipal bonds $ 235 $ 1,088 $ 8,599 $ 4,005 $ 13,927 Total securities held to maturity $ 235 $ 1,088 $ 8,599 $ 4,005 $ 13,927 |
Loans (Tables)
Loans (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Receivables [Abstract] | |
Summary of Loans, Net of Unearned Income | The Company’s loans, net of unearned income, consisted of the following as of December 31 of the years indicated. (dollars in thousands) 2015 2014 Real estate loans: One- to four-family first mortgage $ 391,266 $ 233,249 Home equity loans and lines 94,060 56,000 Commercial real estate 405,379 352,863 Construction and land 116,775 89,154 Multi-family residential 43,863 27,375 Total real estate loans 1,051,343 758,641 Other loans: Commercial and industrial 125,108 104,446 Consumer 47,915 45,881 Total other loans 173,023 150,327 Total loans $ 1,224,366 $ 908,968 |
Schedule of Activity in Allowance for Loan Losses | A summary of activity in the Company’s allowance for loan losses for the years ended December 31, 2015, 2014 and 2013 is as follows. For the Year Ended December 31, 2015 (dollars in thousands) Beginning Charge-offs Recoveries Provision Ending Originated loans: Allowance for loan losses: One- to four-family first mortgage $ 1,136 $ (62 ) $ 30 $ 268 $ 1,372 Home equity loans and lines 442 (15 ) 20 89 536 Commercial real estate 2,922 — 1 229 3,152 Construction and land 968 — — 392 1,360 Multi-family residential 192 — — (19 ) 173 Commercial and industrial 1,161 (190 ) 226 813 2,010 Consumer 521 (130 ) 1 179 571 Total allowance for loan losses $ 7,342 $ (397 ) $ 278 $ 1,951 $ 9,174 Acquired loans: Allowance for loan losses: One- to four-family first mortgage $ 174 $ (42 ) $ — $ (40 ) $ 92 Home equity loans and lines 111 (12 ) — 125 224 Commercial real estate — — — — — Construction and land 133 (111 ) — 35 57 Multi-family residential — — — — — Commercial and industrial — — — — — Consumer — — — — — Total allowance for loan losses $ 418 $ (165 ) $ — $ 120 $ 373 Total loans: Allowance for loan losses: One- to four-family first mortgage $ 1,310 $ (104 ) $ 30 $ 228 $ 1,464 Home equity loans and lines 553 (27 ) 20 214 760 Commercial real estate 2,922 — 1 229 3,152 Construction and land 1,101 (111 ) — 427 1,417 Multi-family residential 192 — — (19 ) 173 Commercial and industrial 1,161 (190 ) 226 813 2,010 Consumer 521 (130 ) 1 179 571 Total allowance for loan losses $ 7,760 $ (562 ) $ 278 $ 2,071 $ 9,547 For the Year Ended December 31, 2014 (dollars in thousands) Beginning Charge-offs Recoveries Provision Ending Originated loans: Allowance for loan losses: One- to four-family first mortgage $ 904 $ (99 ) $ — $ 331 $ 1,136 Home equity loans and lines 366 (2 ) 5 73 442 Commercial real estate 2,528 — — 394 2,922 Construction and land 977 (19 ) — 10 968 Multi-family residential 90 — — 102 192 Commercial and industrial 1,332 (1,407 ) 184 1,052 1,161 Consumer 473 (32 ) 3 77 521 Total allowance for loan losses $ 6,670 $ (1,559 ) $ 192 $ 2,039 $ 7,342 Acquired loans: Allowance for loan losses: One- to four-family first mortgage $ 184 $ (114 ) $ — $ 104 $ 174 Home equity loans and lines 58 — — 53 111 Commercial real estate — (41 ) — 41 — Construction and land — — — 133 133 Multi-family residential — — — — — Commercial and industrial 6 — — (6 ) — Consumer — — — — — Total allowance for loan losses $ 248 $ (155 ) $ — $ 325 $ 418 Total loans: Allowance for loan losses: One- to four-family first mortgage $ 1,088 $ (213 ) $ — $ 435 $ 1,310 Home equity loans and lines 424 (2 ) 5 126 553 Commercial real estate 2,528 (41 ) — 435 2,922 Construction and land 977 (19 ) — 143 1,101 Multi-family residential 90 — — 102 192 Commercial and industrial 1,338 (1,407 ) 184 1,046 1,161 Consumer 473 (32 ) 3 77 521 Total allowance for loan losses $ 6,918 $ (1,714 ) $ 192 $ 2,364 $ 7,760 For the Year Ended December 31, 2013 (dollars in thousands) Beginning Charge-offs Recoveries Provision Ending Originated loans: Allowance for loan losses: One- to four-family first mortgage $ 798 $ (76 ) $ — $ 182 $ 904 Home equity loans and lines 322 — 10 34 366 Commercial real estate 2,040 — — 488 2,528 Construction and land 785 (44 ) 10 226 977 Multi-family residential 86 — — 4 90 Commercial and industrial 683 (1,990 ) 57 2,582 1,332 Consumer 400 (9 ) 24 58 473 Total allowance for loan losses $ 5,114 $ (2,119 ) $ 101 $ 3,574 $ 6,670 Acquired loans: Allowance for loan losses: One- to four-family first mortgage $ 184 $ (36 ) $ — $ 36 $ 184 Home equity loans and lines 21 — — 37 58 Commercial real estate — — — — — Construction and land — — — — — Multi-family residential — — — — — Commercial and industrial — — — 6 6 Consumer — — — — — Total allowance for loan losses $ 205 $ (36 ) $ — $ 79 $ 248 Total loans: Allowance for loan losses: One- to four-family first mortgage $ 982 $ (112 ) $ — $ 218 $ 1,088 Home equity loans and lines 343 — 10 71 424 Commercial real estate 2,040 — — 488 2,528 Construction and land 785 (44 ) 10 226 977 Multi-family residential 86 — — 4 90 Commercial and industrial 683 (1,990 ) 57 2,588 1,338 Consumer 400 (9 ) 24 58 473 Total allowance for loan losses $ 5,319 $ (2,155 ) $ 101 $ 3,653 $ 6,918 |
Allowance for Loan Losses and Recorded Investment in Loans | The Company’s allowance for loan losses and recorded investment in loans as of the periods indicated is as follows. As of December 31, 2015 Originated Loans (dollars in thousands) Collectively Individually Acquired Total Allowance for loan losses: One- to four-family first mortgage $ 1,338 $ 34 $ 92 $ 1,464 Home equity loans and lines 536 — 224 760 Commercial real estate 3,066 86 — 3,152 Construction and land 1,360 — 57 1,417 Multi-family residential 173 — — 173 Commercial and industrial 1,977 33 — 2,010 Consumer 571 — — 571 Total allowance for loan losses $ 9,021 $ 153 $ 373 $ 9,547 As of December 31, 2015 Originated Loans (dollars in thousands) Collectively Individually Acquired (1) Total Loans: One- to four-family first mortgage $ 185,802 $ 78 $ 205,386 $ 391,266 Home equity loans and lines 40,251 — 53,809 94,060 Commercial real estate 285,856 181 119,342 405,379 Construction and land 109,007 — 7,768 116,775 Multi-family residential 14,962 — 28,901 43,863 Commercial and industrial 115,360 707 9,041 125,108 Consumer 45,641 — 2,274 47,915 Total loans $ 796,879 $ 966 $ 426,521 $ 1,224,366 As of December 31, 2014 Originated Loans (dollars in thousands) Collectively Individually Acquired Total Allowance for loan losses: One- to four-family first mortgage $ 1,136 $ — $ 174 $ 1,310 Home equity loans and lines 442 — 111 553 Commercial real estate 2,815 107 — 2,922 Construction and land 968 — 133 1,101 Multi-family residential 192 — — 192 Commercial and industrial 1,128 33 — 1,161 Consumer 521 — — 521 Total allowance for loan losses $ 7,202 $ 140 $ 418 $ 7,760 As of December 31, 2014 Originated Loans (dollars in thousands) Collectively Individually Acquired (1) Total Loans: One- to four-family first mortgage $ 164,450 $ 78 $ 68,721 $ 233,249 Home equity loans and lines 34,485 — 21,515 56,000 Commercial real estate 279,493 777 72,593 352,863 Construction and land 77,057 — 12,097 89,154 Multi-family residential 16,507 — 10,868 27,375 Commercial and industrial 88,411 1,128 14,907 104,446 Consumer 43,049 — 2,832 45,881 Total loans $ 703,452 $ 1,983 $ 203,533 $ 908,968 (1) $20.0 million and $32.0 million in acquired loans were accounted for under ASC 310-30 at December 31, 2015 and 2014, respectively. |
Schedule of Credit Quality Indicators of Loan Portfolio | Credit quality indicators on the Company’s loan portfolio as of the dates indicated are as follows. December 31, 2015 (dollars in thousands) Pass Special Substandard Doubtful Total Originated loans: One- to four-family first mortgage $ 183,863 $ 439 $ 1,578 $ — $ 185,880 Home equity loans and lines 39,736 394 121 — 40,251 Commercial real estate 282,963 988 2,086 — 286,037 Construction and land 107,901 — 1,106 — 109,007 Multi-family residential 14,962 — — — 14,962 Commercial and industrial 113,108 585 2,374 — 116,067 Consumer 45,133 38 470 — 45,641 Total originated loans $ 787,666 $ 2,444 $ 7,735 $ — $ 797,845 Acquired loans: One- to four-family first mortgage $ 200,966 $ 791 $ 3,629 $ — $ 205,386 Home equity loans and lines 53,352 20 437 — 53,809 Commercial real estate 112,802 4,085 2,455 — 119,342 Construction and land 4,573 1,819 1,376 — 7,768 Multi-family residential 27,931 12 958 — 28,901 Commercial and industrial 7,071 1,191 779 — 9,041 Consumer 2,160 51 63 — 2,274 Total acquired loans $ 408,855 $ 7,969 $ 9,697 $ — $ 426,521 Total loans: One- to four-family first mortgage $ 384,829 $ 1,230 $ 5,207 $ — $ 391,266 Home equity loans and lines 93,088 414 558 — 94,060 Commercial real estate 395,765 5,073 4,541 — 405,379 Construction and land 112,474 1,819 2,482 — 116,775 Multi-family residential 42,893 12 958 — 43,863 Commercial and industrial 120,179 1,776 3,153 — 125,108 Consumer 47,293 89 533 — 47,915 Total loans $ 1,196,521 $ 10,413 $ 17,432 $ — $ 1,224,366 December 31, 2014 (dollars in thousands) Pass Special Substandard Doubtful Total Originated loans: One- to four-family first mortgage $ 161,922 $ 251 $ 2,355 $ — $ 164,528 Home equity loans and lines 33,731 255 499 — 34,485 Commercial real estate 274,878 3,655 1,737 — 280,270 Construction and land 75,888 103 1,066 — 77,057 Multi-family residential 15,642 865 — — 16,507 Commercial and industrial 88,309 39 1,191 — 89,539 Consumer 42,718 2 329 — 43,049 Total originated loans $ 693,088 $ 5,170 $ 7,177 $ — $ 705,435 Acquired loans: One- to four-family first mortgage $ 62,761 $ 1,007 $ 4,953 $ — $ 68,721 Home equity loans and lines 20,842 57 616 — 21,515 Commercial real estate 61,172 2,071 9,350 — 72,593 Construction and land 6,407 1 5,689 — 12,097 Multi-family residential 8,175 923 1,770 — 10,868 Commercial and industrial 13,699 — 1,208 — 14,907 Consumer 2,741 40 51 — 2,832 Total acquired loans $ 175,797 $ 4,099 $ 23,637 $ — $ 203,533 Total: One- to four-family first mortgage $ 224,683 $ 1,258 $ 7,308 $ — $ 233,249 Home equity loans and lines 54,573 312 1,115 — 56,000 Commercial real estate 336,050 5,726 11,087 — 352,863 Construction and land 82,295 104 6,755 — 89,154 Multi-family residential 23,817 1,788 1,770 — 27,375 Commercial and industrial 102,008 39 2,399 — 104,446 Consumer 45,459 42 380 — 45,881 Total loans $ 868,885 $ 9,269 $ 30,814 $ — $ 908,968 |
Schedule of Past Due Loans | Age analysis of past due loans, as of the dates indicated is as follows. December 31, 2015 (dollars in thousands) 30-59 Days Past Due 60-89 Days Past Due Greater Past Due Total Past Due Current Loans Total Loans Originated loans: Real estate loans: One- to four-family first mortgage $ 2,174 $ 435 $ 890 $ 3,499 $ 182,381 $ 185,880 Home equity loans and lines 87 — 121 208 40,043 40,251 Commercial real estate 438 — 602 1,040 284,997 286,037 Construction and land 117 — 87 204 108,803 109,007 Multi-family residential — — — — 14,962 14,962 Total real estate loans 2,816 435 1,700 4,951 631,186 636,137 Other loans: Commercial and industrial 411 15 707 1,133 114,934 116,067 Consumer 533 277 358 1,168 44,473 45,641 Total other loans 944 292 1,065 2,301 159,407 161,708 Total originated loans $ 3,760 $ 727 $ 2,765 $ 7,252 $ 790,593 $ 797,845 Acquired loans: Real estate loans: One- to four-family first mortgage $ 1,976 $ 885 $ 2,582 $ 5,443 $ 199,943 $ 205,386 Home equity loans and lines 327 40 317 684 53,125 53,809 Commercial real estate 140 6 1,441 1,587 117,755 119,342 Construction and land 592 7 48 647 7,121 7,768 Multi-family residential — 14 12 26 28,875 28,901 Total real estate loans 3,035 952 4,400 8,387 406,819 415,206 Other loans: Commercial and industrial 14 7 429 450 8,591 9,041 Consumer 64 4 48 116 2,158 2,274 Total other loans 78 11 477 566 10,749 11,315 Total acquired loans $ 3,113 $ 963 $ 4,877 $ 8,953 $ 417,568 $ 426,521 Total loans: Real estate loans: One- to four-family first mortgage $ 4,150 $ 1,320 $ 3,472 $ 8,942 $ 382,324 $ 391,266 Home equity loans and lines 414 40 438 892 93,168 94,060 Commercial real estate 578 6 2,043 2,627 402,752 405,379 Construction and land 709 7 135 851 115,924 116,775 Multi-family residential — 14 12 26 43,837 43,863 Total real estate loans 5,851 1,387 6,100 13,338 1,038,005 1,051,343 Other loans: Commercial and industrial 425 22 1,136 1,583 123,525 125,108 Consumer 597 281 406 1,284 46,631 47,915 Total other loans 1,022 303 1,542 2,867 170,156 173,023 Total loans $ 6,873 $ 1,690 $ 7,642 $ 16,205 $ 1,208,161 $ 1,224,366 December 31, 2014 (dollars in thousands) 30-59 Past Due 60-89 Past Due Greater Past Due Total Current Total Originated loans: Real estate loans: One- to four-family first mortgage $ 2,056 $ 90 $ 1,058 $ 3,204 $ 161,324 $ 164,528 Home equity loans and lines 434 — 65 499 33,986 34,485 Commercial real estate 1,284 — 829 2,113 278,157 280,270 Construction and land 309 — — 309 76,748 77,057 Multi-family residential — — — — 16,507 16,507 Total real estate loans 4,083 90 1,952 6,125 566,722 572,847 Other loans: Commercial and industrial 271 49 451 771 88,768 89,539 Consumer 924 133 329 1,386 41,663 43,049 Total other loans 1,195 182 780 2,157 130,431 132,588 Total originated loans $ 5,278 $ 272 $ 2,732 $ 8,282 $ 697,153 $ 705,435 Acquired loans: Real estate loans: One- to four-family first mortgage $ 2,323 $ 1,341 $ 2,836 $ 6,500 $ 62,221 $ 68,721 Home equity loans and lines 249 97 220 566 20,949 21,515 Commercial real estate 4,551 1 1,840 6,392 66,201 72,593 Construction and land 499 755 702 1,956 10,141 12,097 Multi-family residential 1,052 25 319 1,396 9,472 10,868 Total real estate loans 8,674 2,219 5,917 16,810 168,984 185,794 Other loans: Commercial and industrial 177 392 336 905 14,002 14,907 Consumer 47 33 41 121 2,711 2,832 Total other loans 224 425 377 1,026 16,713 17,739 Total acquired loans $ 8,898 $ 2,644 $ 6,294 $ 17,836 $ 185,697 $ 203,533 Total loans: Real estate loans: One- to four-family first mortgage $ 4,379 $ 1,431 $ 3,894 $ 9,704 $ 223,545 $ 233,249 Home equity loans and lines 683 97 285 1,065 54,935 56,000 Commercial real estate 5,835 1 2,669 8,505 344,358 352,863 Construction and land 808 755 702 2,265 86,889 89,154 Multi-family residential 1,052 25 319 1,396 25,979 27,375 Total real estate loans 12,757 2,309 7,869 22,935 735,706 758,641 Other loans: Commercial and industrial 448 441 787 1,676 102,770 104,446 Consumer 971 166 370 1,507 44,374 45,881 Total other loans 1,419 607 1,157 3,183 147,144 150,327 Total loans $ 14,176 $ 2,916 $ 9,026 $ 26,118 $ 882,850 $ 908,968 |
Summary of Information Pertaining to Impaired Loans Excluding Acquired Loans | The following is a summary of information pertaining to the Company’s impaired loans, excluding acquired loans, as of the dates indicated. For the Year Ended December 31, 2015 (dollars in thousands) Recorded Unpaid Related Average Interest With no related allowance recorded: One- to four-family first mortgage $ — $ — $ — $ 72 $ — Home equity loans and lines — — — — — Commercial real estate — — — — — Construction and land — — — — — Multi-family residential — — — — — Commercial and industrial — — — 213 — Consumer — — — — — Total $ — $ — $ — $ 285 $ — With an allowance recorded: One- to four-family first mortgage $ 78 $ 78 $ 34 $ 6 $ 5 Home equity loans and lines — — — — — Commercial real estate 181 181 86 461 11 Construction and land — — — — — Multi-family residential — — — — — Commercial and industrial 707 707 33 729 39 Consumer — — — — — Total $ 966 $ 966 $ 153 $ 1,196 $ 55 Total impaired loans: One- to four-family first mortgage $ 78 $ 78 $ 34 $ 78 $ 5 Home equity loans and lines — — — — — Commercial real estate 181 181 86 461 11 Construction and land — — — — — Multi-family residential — — — — — Commercial and industrial 707 707 33 942 39 Consumer — — — — — Total $ 966 $ 966 $ 153 $ 1,481 $ 55 For the Year Ended December 31, 2014 (dollars in thousands) Recorded Unpaid Related Average Interest With no related allowance recorded: One- to four-family first mortgage $ 78 $ 78 $ — $ 214 $ — Home equity loans and lines — — — — — Commercial real estate — — — 64 — Construction and land — — — 15 — Multi-family residential — — — — — Commercial and industrial 398 398 — 494 4 Consumer — — — — — Total $ 476 $ 476 $ — $ 787 $ 4 With an allowance recorded: One- to four-family first mortgage $ — $ — $ — $ — $ — Home equity loans and lines — — — — — Commercial real estate 777 777 107 239 10 Construction and land — — — — — Multi-family residential — — — — — Commercial and industrial 730 730 33 923 40 Consumer — — — — — Total $ 1,507 $ 1,507 $ 140 $ 1,162 $ 50 Total impaired loans: One- to four-family first mortgage $ 78 $ 78 $ — $ 214 $ — Home equity loans and lines — — — — — Commercial real estate 777 777 107 303 10 Construction and land — — — 15 — Multi-family residential — — — — — Commercial and industrial 1,128 1,128 33 1,417 44 Consumer — — — — — Total $ 1,983 $ 1,983 $ 140 $ 1,949 $ 54 |
Summary of Information Pertaining to Nonaccrual Noncovered Loans | A summary of information pertaining to the Company’s nonaccrual loans as of December 31, 2015 and 2014 is as follows. December 31, 2015 December 31, 2014 (dollars in thousands) Originated Acquired (1) Total Originated Acquired (1) Total Nonaccrual loans: One- to four-family first mortgage $ 928 $ 2,649 $ 3,577 $ 1,429 $ 5,072 $ 6,501 Home equity loans and lines 121 412 534 65 482 547 Commercial real estate 1,671 2,526 4,197 829 5,498 6,327 Construction and land 87 121 207 — 5,356 5,356 Multi-family residential — 763 763 — 1,770 1,770 Commercial and industrial 2,374 610 2,984 1,191 1,168 2,359 Consumer 470 81 552 329 92 421 Total $ 5,651 $ 7,162 $ 12,813 $ 3,843 $ 19,438 $ 23,281 (1) Nonaccrual acquired loans accounted for under ASC 310-30 totaled $4.6 million and $11.8 million as of December 31, 2015 and 2014, respectively. |
Information about the Company's TDRs | Information about the Company’s TDRs is presented in the following tables. As of December 31, 2015 (dollars in thousands) Current Past Due Nonaccrual Total Originated loans: Real estate loans: One- to four-family first mortgage $ 281 $ — $ 38 $ 319 Home equity loans and lines 383 — 3 386 Commercial real estate 107 — 1,069 1,176 Construction and land — — 87 87 Multi-family residential — — — — Total real estate loans 771 — 1,197 1,968 Other loans: Commercial and industrial — — 2,374 2,374 Consumer 27 — 142 169 Total other loans 27 — 2,516 2,543 Total loans $ 798 $ — $ 3,713 $ 4,511 Acquired loans: Real estate loans: One- to four-family first mortgage $ 419 $ 73 $ 15 $ 507 Home equity loans and lines — — — — Commercial real estate — — 1,192 1,192 Construction and land — — 52 52 Multi-family residential — — — — Total real estate loans 419 73 1,259 1,751 Other loans: Commercial and industrial — — — — Consumer — — — — Total other loans — — — — Total loans $ 419 $ 73 $ 1,259 $ 1,751 Total loans: Real estate loans: One- to four-family first mortgage $ 700 $ 73 $ 53 $ 826 Home equity loans and lines 383 — 3 386 Commercial real estate 107 — 2,261 2,368 Construction and land — — 139 139 Multi-family residential — — — — Total real estate loans 1,190 73 2,456 3,719 Other loans: Commercial and industrial — — 2,374 2,374 Consumer 27 — 142 169 Total other loans 27 — 2,516 2,543 Total loans $ 1,217 $ 73 $ 4,972 $ 6,262 As of December 31, 2014 (dollars in thousands) Current Past Due Nonaccrual Total Originated loans: Real estate loans: One- to four-family first mortgage $ — $ — $ 291 $ 291 Home equity loans and lines — — — — Commercial real estate 111 — — 111 Construction and land 103 — — 103 Multi-family residential — — — — Total real estate loans 214 — 291 505 Other loans: Commercial and industrial — — 730 730 Consumer — — — — Total other loans — — 730 730 Total loans $ 214 $ — $ 1,021 $ 1,235 Acquired loans: Real estate loans: One- to four-family first mortgage $ 432 $ 77 $ 49 $ 558 Home equity loans and lines — — — — Commercial real estate — — 967 967 Construction and land — — 117 117 Multi-family residential — — — — Total real estate loans 432 77 1,133 1,642 Other loans: Commercial and industrial — — — — Consumer 2 — 2 4 Total other loans 2 — 2 4 Total loans $ 434 $ 77 $ 1,135 $ 1,646 Total loans: Real estate loans: One- to four-family first mortgage $ 432 $ 77 $ 340 $ 849 Home equity loans and lines — — — — Commercial real estate 111 — 967 1,078 Construction and land 103 — 117 220 Multi-family residential — — — — Total real estate loans 646 77 1,424 2,147 Other loans: Commercial and industrial — — 730 730 Consumer 2 — 2 4 Total other loans 2 — 732 734 Total loans $ 648 $ 77 $ 2,156 $ 2,881 |
Summary of Information Pertaining to Modified Terms of Loans | A summary of information pertaining to modified terms of loans, as of the date indicated is as follows. As of December 31, 2015 As of December 31, 2014 (dollars in thousands) Number of Pre-modification Post-modification Number of Pre-modification Post-modification Troubled debt restructurings: One- to four-family first mortgage 5 $ 987 $ 826 5 $ 1,007 $ 849 Home equity loans and lines 2 386 386 — — — Commercial real estate 6 2,513 2,368 2 1,088 1,078 Construction and land 2 469 139 2 494 220 Multi-family residential — — — — — — Commercial and industrial 15 2,715 2,374 1 761 730 Other consumer 4 185 169 2 29 4 Total 34 $ 7,255 $ 6,262 12 $ 3,379 $ 2,881 |
Loan Servicing (Tables)
Loan Servicing (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Text Block [Abstract] | |
Unpaid Principal Balance of Serviced Mortgage Loans for Others | The unpaid principal balances of these loans as of December 31 of the years indicated are summarized as follows: (dollars in thousands) 2015 2014 Mortgage loans sold to Federal Home Loan Mortgage Corporation without recourse $ 7,710 $ 10,821 Mortgage loans sold to Federal National Mortgage Association without recourse 217,869 92,626 Mortgage loans sold to Federal Home Loan Bank without recourse 800 — Balance, end of period $ 226,379 $ 103,447 |
Activity Related to Servicing Assets | Activity related to servicing assets for the years ended December 31, 2015, 2014 and 2013 is summarized as follows. (dollars in thousands) 2015 2014 2013 Balance at the beginning of the year $ 356 $ 516 $ 611 Recognition of servicing assets from the transfer of financial assets 18 — 101 Acquired from LABC, at fair value 682 — — Amortization (180 ) (160 ) (196 ) Balance, end of period $ 876 $ 356 $ 516 Fair value, end of period $ 1,561 $ 629 $ 1,009 |
Office Properties and Equipme36
Office Properties and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Property, Plant and Equipment [Abstract] | |
Summary of Office Properties and Equipment | Office properties and equipment consisted of the following as of December 31 of the years indicated. (dollars in thousands) 2015 2014 Land $ 14,049 $ 12,224 Buildings and improvements 31,084 29,252 Furniture and equipment 10,917 11,403 Total office properties and equipment 56,050 52,879 Less accumulated depreciation 15,234 14,914 Total office properties and equipment, net $ 40,816 $ 37,965 |
Goodwill and Intangibles (Table
Goodwill and Intangibles (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Summary of Core Deposit Intangible Assets | A summary of the Company’s core deposit intangible assets as of December 31 of the years indicated follows. (dollars in thousands) 2015 2014 Gross carrying amount $ 3,367 $ 1,053 Core deposit intangibles acquired during the year 1,586 3,030 Less amortization (744 ) (716 ) Total core deposit intangible asset $ 4,209 $ 3,367 |
Deposits (Tables)
Deposits (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Banking and Thrift [Abstract] | |
Schedule of Deposits Classifications | The Company’s deposits consisted of the following major classifications as of December 31 of the years indicated. (dollars in thousands) 2015 2014 Demand deposit accounts $ 296,617 $ 267,660 Savings 109,393 81,145 Money market accounts 293,637 219,456 NOW accounts 267,707 204,536 Certificates of deposit 276,863 220,775 Total deposits $ 1,244,217 $ 993,572 |
Scheduled Maturities of Certificates of Deposit | As of December 31, 2015, the scheduled maturities of the Company’s certificates of deposit are as follows. (dollars in thousands) Amount 2015 $ 164,500 2016 59,267 2017 21,111 2018 11,561 2019 9,050 Thereafter 11,374 Total certificates of deposit $ 276,863 |
Long-term FHLB Advances (Tables
Long-term FHLB Advances (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Banking and Thrift [Abstract] | |
Summary of Long-term Advances | The following table summarizes long-term advances as of December 31, 2015. (dollars in thousands) Amount Weighted Fixed rate advances maturing in: 2016 $ 5,358 1.09 % 2017 22,854 2.19 2018 5,986 1.32 2019 12,551 1.68 2020 32,622 1.60 Thereafter 5,842 2.18 Total long-term FHLB advances $ 85,213 1.76 % |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Income Tax Disclosure [Abstract] | |
Summarized Income Tax (Benefit) Expense | The Company files federal income tax returns on a calendar year basis. Income tax (benefit) expense for the years indicated is summarized as follows: (dollars in thousands) 2015 2014 2013 Current $ 6,040 $ 4,690 $ 5,001 Deferred 631 516 (1,265 ) Total income tax expense $ 6,671 $ 5,206 $ 3,736 |
Summarized Deferred Tax Asset | The components of the Company’s net deferred tax asset as of December 31 of the years indicated are as follows: (dollars in thousands) 2015 2014 Deferred tax assets: Provision for loan losses $ 3,341 $ 2,716 Discount on purchased loans 1,278 1,999 Borrowings — 130 Acquired tax credits 1,069 1,931 Salary continuation plan 929 538 Mortgage servicing rights 150 — Deferred compensation 120 119 Stock-based compensation 730 710 Real estate owned 143 458 Other 1,808 880 Deferred tax assets $ 9,568 $ 9,481 Deferred tax liabilities: FHLB stock dividends $ (60 ) $ (7 ) Accumulated depreciation (2,963 ) (1,297 ) Intangible assets (898 ) (545 ) Unrealized gain on securities available for sale (469 ) (703 ) Mortgage servicing rights — (125 ) Premium on investment securities acquired (760 ) (446 ) Other (1,721 ) (84 ) Deferred tax liabilities (6,871 ) (3,207 ) Net deferred tax asset $ 2,697 $ 6,274 |
Provision for Federal Income Taxes | For the years ended December 31, 2015, 2014 and 2013, the Company’s provision for federal income taxes differed from the amount computed by applying the federal income tax statutory rate of 35% on income from operations as indicated in the following analysis: (dollars in thousands) 2015 2014 2013 Federal tax based on statutory rate $ 6,706 $ 5,263 $ 3,857 State tax based on statutory rate 60 41 10 (Decrease) increase resulting from: Effect of tax-exempt income (242 ) (225 ) (294 ) Changes the cash surrender value of bank owned life insurance (176 ) (160 ) (162 ) Nondeductible merger-related expenses 261 52 62 Nondeductible share based compensation expense 178 203 230 Other (116 ) 32 33 Income tax expense $ 6,671 $ 5,206 $ 3,736 Effective tax rate 34.7 % 34.5 % 33.9 % |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Summary of Outstanding Commitments to Originate Loans and to Advance Additional Amounts | The following table summarizes our outstanding commitments to originate loans and to advance additional amounts pursuant to outstanding letters of credit, lines of credit and the undisbursed portion of construction loans as of December 31 of the years indicated. Contract Amount (dollars in thousands) 2015 2014 Standby letters of credit $ 3,764 $ 5,405 Available portion of lines of credit 127,393 107,242 Undisbursed portion of loans in process 73,699 54,200 Commitments to originate loans 89,653 96,506 |
Regulatory Matters (Tables)
Regulatory Matters (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Banking and Thrift [Abstract] | |
Company's and the Bank's Actual Capital Amounts and Ratios | The Company’s and the Bank’s actual capital amounts and ratios are presented in the following table. (dollars in thousands) Actual Minimum For Capital Adequacy Purposes To Be Well Capitalized December 31, 2015 Company Tier 1 risk-based capital: 151,221 13.05 % 69,534 6.0 % N/A N/A Total risk-based capital: 160,769 13.87 % 92,712 8.0 % N/A N/A Tier 1 leverage capital: 151,221 9.82 % 61,569 4.0 % N/A N/A Bank Common Equity Tier 1 (to risk-weighted assets): $ 134,348 11.61 % $ 52,087 4.5 % $ 75,237 6.5 % Tier 1 risk-based capital: 134,348 11.61 % 69,449 6.0 % 92,599 8.0 % Total risk-based capital: 143,895 12.43 % 92,599 8.0 % 115,749 10.0 % Tier 1 leverage capital: 134,348 8.74 % 61,512 4.0 % 76,890 5.0 % December 31, 2014 Bank Tier 1 risk-based capital: $ 145,325 16.94 % $ 34,303 4.0 % $ 51,454 6.0 % Total risk-based capital: 153,085 17.85 % 68,605 8.0 % 85,757 10.0 % Tier 1 leverage capital: 145,325 11.96 % 48,603 4.0 % 60,755 5.0 % |
Benefit Plans (Tables)
Benefit Plans (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Postemployment Benefits [Abstract] | |
Summary of Employee Stock Ownership Plan | A summary of the ESOP share allocation as of December 31, 2015 follows. 2015 2014 Shares allocated, beginning of year 198,836 171,945 Shares allocated during the year 35,708 35,708 Shares distributed during the year (15,129 ) (8,817 ) Allocated shares held by ESOP trust as of year end 219,415 198,836 Unallocated shares 455,271 490,978 Total ESOP shares 674,686 689,814 |
Stock-based Payment Arrangeme44
Stock-based Payment Arrangements (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Assumptions Used in Computing Fair Value of All Options Granted | The fair value of each option granted is estimated on the grant date using the Black-Scholes option pricing model. This model requires management to make certain assumptions, including the expected life of the option, the risk-free rate of interest, the expected volatility and the expected dividend yield. The following assumptions were made in estimating 2015 fair values: Expected dividends 1.3 % Expected volatility 21.62 % Risk-free interest rate 1.9 % Expected term (in years) 6.5 |
Summary of Stock Option Activity | The following table represents stock option activity for the year ended December 31, 2015. Options Number of Weighted- Weighted- Weighted- Outstanding as of January 1, 2015 793,170 $ 11.92 $ 3.90 Granted 42,910 22.35 4.80 Exercised (271,597 ) 11.56 3.78 Forfeited (3,200 ) 14.35 4.88 Outstanding as of December 31, 2015 561,283 $ 12.87 $ 4.02 4.2 Exercisable as of December 31, 2015 492,473 $ 11.82 $ 3.87 3.6 |
Unvested Restricted Stock Activity | The following table represents unvested restricted stock activity in for the year ended December 31, 2015. Number of Weighted-Average Balance, beginning of year 10,898 $ 16.74 Granted 24,615 22.26 Forfeited (400 ) 14.35 Released (3,700 ) 16.10 Balance, end of period 31,413 $ 21.17 |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Earnings Per Share [Abstract] | |
Earnings Per Common Share | Earnings per common share was computed based on the following: Years Ended December 31, (in thousands, except per share data) 2015 2014 2013 Numerator: Income applicable to common shares $ 12,550 $ 9,872 $ 7,294 Denominator: Weighted average common shares outstanding 6,708 6,553 6,591 Effect of dilutive securities: Restricted stock 4 25 55 Stock options 289 355 262 Weighted average common shares outstanding - assuming dilution 7,001 6,933 6,908 Earnings per common share $ 1.87 $ 1.51 $ 1.11 Earnings per common share - assuming dilution $ 1.79 $ 1.42 $ 1.06 |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Related Party Transactions [Abstract] | |
Summary of Related Party Loan Activity | A summary of related party loan activity during 2015 follows. (dollars in thousands) Balance, beginning of year $ 7,279 New loans 2,365 Repayments, net (2,054 ) Balance, end of year $ 7,590 |
Fair Value Disclosures (Tables)
Fair Value Disclosures (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Fair Value Disclosures [Abstract] | |
Summary of Assets and Liabilities Measured on Recurring Basis | The following tables present the balances of assets and liabilities measured on a recurring basis as of December 31, 2015 and 2014 aggregated by the level in the fair value hierarchy in which these measurements fall. (dollars in thousands) December 31, 2015 Level 1 Level 2 Level 3 Available for sale securities: U.S. agency mortgage-backed $ 135,478 $ — $ 135,478 $ — Non-U.S. agency mortgage-backed 6,065 — 6,065 — Municipal bonds 22,933 — 22,933 — U.S. government agency 12,286 — 12,286 — Total $ 176,762 $ — $ 176,762 $ — (dollars in thousands) December 31, 2014 Level 1 Level 2 Level 3 Available for sale securities: U.S. agency mortgage-backed $ 121,498 $ — $ 121,498 $ — Non-U.S. agency mortgage-backed 7,764 — 7,764 — Municipal bonds 24,896 — 24,896 — U.S. government agency 20,643 — 20,643 — Total $ 174,801 $ — $ 174,801 $ — |
Summary of Financial Assets and Liabilities Measured at Fair Value on Nonrecurring Basis | The Company has segregated all financial assets and liabilities that are measured at fair value on a nonrecurring basis into the most appropriate level within the fair value hierarchy based on the inputs used to determine the fair value at the measurement date in the table below. Fair Value Measurements Using (dollars in thousands) December 31, 2015 Level 1 Level 2 Level 3 Assets Acquired loans with deteriorated credit quality $ 19,859 $ — $ — $ 19,859 Impaired loans excluding acquired loans 813 — — 813 Repossessed assets 3,128 — — 3,128 Total $ 23,800 $ — $ — $ 23,800 Fair Value Measurements Using (dollars in thousands) December 31, 2014 Level 1 Level 2 Level 3 Assets Acquired loans with deteriorated credit quality $ 31,908 $ — $ — $ 31,908 Impaired loans excluding acquired loans 1,843 — — 1,843 Repossessed assets 5,214 — — 5,214 Total $ 38,965 $ — $ — $ 38,965 |
Summary of Fair Values of Company's Financial Instruments | The fair value of off-balance sheet financial instruments as of December 31, 2015 and 2014 was immaterial. Fair Value Measurements at December 31, 2015 Carrying (dollars in thousands) Amount Total Level 1 Level 2 Level 3 Financial Assets Cash and cash equivalents $ 24,798 $ 24,798 $ 24,798 $ — $ — Interest-bearing deposits in banks 5,144 5,144 5,144 — — Investment securities available for sale 176,762 176,762 — 176,762 — Investment securities held to maturity 13,927 14,121 — 14,121 — Mortgage loans held for sale 5,651 5,651 — 5,651 — Loans, net 1,214,818 1,216,370 — — 1,216,370 Cash surrender value of BOLI 19,667 19,667 19,667 — — Financial Liabilities Deposits $ 1,244,217 $ 1,243,698 $ — $ 1,243,698 $ — Short-term FHLB advances 39,939 39,939 39,939 — — Long-term FHLB advances 85,213 84,711 — 84,711 — Securities sold under repurchase agreements — — — — — Fair Value Measurements at December 31, 2014 Carrying (dollars in thousands) Amount Total Level 1 Level 2 Level 3 Financial Assets Cash and cash equivalents $ 29,078 $ 29,078 $ 29,078 $ — $ — Interest-bearing deposits in banks 5,526 5,526 5,526 — — Investment securities available for sale 174,801 174,801 — 174,801 — Investment securities held to maturity 11,705 11,889 — 11,889 — Mortgage loans held for sale 4,517 4,517 — 4,517 — Loans, net 901,208 908,346 — — 908,346 Cash surrender value of BOLI 19,163 19,163 19,163 — — Financial Liabilities Deposits $ 993,573 $ 993,994 $ — $ 924,816 $ 69,178 Short-term FHLB advances 31,000 31,000 31,000 — — Long-term FHLB advances 16,500 16,987 — 16,987 — Securities sold under repurchase agreements 20,371 20,371 — — 20,371 |
Condensed Parent Company Only48
Condensed Parent Company Only Financial Statements (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |
Condensed Balance Sheets | Condensed financial statements of Home Bancorp, Inc. (parent company only) are shown below. The parent company has no significant operating activities. Condensed Balance Sheets December 31, 2015 and 2014 (dollars in thousands) 2015 2014 Assets Cash in bank $ 19,512 $ 2,668 Investment in subsidiary 148,172 150,883 Other assets 1,333 708 Total assets $ 169,017 $ 154,259 Liabilities $ 3,971 $ 115 Shareholders’ equity 165,046 154,144 Total liabilities and shareholders’ equity $ 169,017 $ 154,259 |
Condensed Statements of Operations | Condensed Statements of Operations For the Years Ended December 31, 2015, 2014 and 2013 (dollars in thousands) 2015 2014 2013 Operating income Interest income $ — $ 1 $ 44 Gain on sale of investment — — 241 Dividend from subsidiary 72,500 40,000 — Total operating income 72,500 40,001 285 Operating expenses Interest expenses — 5 — Other expenses 142 147 155 Total operating expenses 142 152 155 Income before income tax expense and equity in undistributed earnings of subsidiary 72,358 39,849 130 Income tax (benefit) expense (57 ) (61 ) 52 Income before equity in undistributed earnings of subsidiary 72,415 39,910 78 (Dividends received in excess of earnings of subsidiary) Undistributed earnings of subsidiary (59,865 ) (30,038 ) 7,216 Net income $ 12,550 $ 9,872 $ 7,294 |
Condensed Statements of Cash Flows | Condensed Statements of Cash Flows For the Years Ended December 31, 2015, 2014 and 2013 (dollars in thousands) 2015 2014 2013 Cash Flows from Operating Activities Net income $ 12,550 $ 9,872 $ 7,294 Adjustments to reconcile net income to net cash provided by operating activities: Net amortization of premium/discount on investments — — (3 ) Gain on sale of investment securities — — (241 ) Non-cash compensation 999 805 652 Increase in accrued interest and other assets (624 ) (58 ) (21 ) Dividends received in excess of earnings from subsidiary (undistributed earnings in subsidiary) 59,865 30,038 (7,216 ) Increase (decrease) in accrued expenses and other liabilities 3,855 (226 ) (189 ) Net Cash Provided by Operating Activities 76,645 40,431 276 Cash Flows from Investing Activities Proceeds from prepayment on available for sale securities — — 312 Proceeds from sale of available for sale securities — — 3,837 Net cash paid in acquisitions (57,455 ) (37,597 ) — Net Cash Provided by (Used in) Investing Activities (57,455 ) (37,597 ) 4,149 Cash Flows from Financing Activities Proceeds from exercise of stock options 3,282 581 91 Payment of dividends on common stock (2,162 ) (499 ) — Purchase of Company’s common stock (3,466 ) (561 ) (6,291 ) Net Cash Used in Financing Activities (2,346 ) (479 ) (6,200 ) Net Increase (Decrease) in Cash and Cash Equivalents 16,844 2,355 (1,775 ) Cash and Cash Equivalents as of Beginning of Period 2,668 313 2,088 Cash and Cash Equivalents as of End of Period $ 19,512 $ 2,668 $ 313 |
Consolidated Quarterly Result49
Consolidated Quarterly Results of Operations (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Quarterly Financial Information Disclosure [Abstract] | |
Summary of Consolidated Quarterly Results of Operations | Consolidated Quarterly Results of Operations (unaudited) (dollars in thousands, except per share data) First Second Third Fourth Year Ended December 31, 2015 Total interest income $ 13,305 $ 13,588 $ 14,425 $ 17,092 Total interest expense 814 823 894 1,335 Net interest income 12,491 12,765 13,531 15,757 Provision for loan losses 538 294 569 670 Net interest income after provision for loan losses 11,953 12,471 12,962 15,087 Noninterest income 2,079 2,039 2,197 2,455 Noninterest expense 9,719 10,228 10,522 11,553 Income before income taxes 4,313 4,282 4,637 5,989 Income tax expense 1,465 1,441 1,739 2,026 Net income $ 2,848 $ 2,841 $ 2,898 $ 3,963 Earnings per share – basic $ 0.43 $ 0.42 $ 0.43 $ 0.59 Earnings per share – diluted $ 0.41 $ 0.41 $ 0.41 $ 0.56 (dollars in thousands, except per share data) First Second Third Fourth Year Ended December 31, 2014 Total interest income $ 12,566 $ 13,940 $ 14,068 $ 13,749 Total interest expense 755 838 856 835 Net interest income 11,811 13,102 13,212 12,914 Provision for loan losses 145 811 892 516 Net interest income after provision for loan losses 11,666 12,291 12,320 12,398 Noninterest income 1,656 2,252 2,161 2,106 Noninterest expense 11,257 10,370 9,968 10,177 Income before income taxes 2,065 4,173 4,513 4,327 Income tax expense 631 1,420 1,637 1,518 Net income $ 1,434 $ 2,753 $ 2,876 $ 2,809 Earnings per share – basic $ 0.22 $ 0.42 $ 0.44 $ 0.43 Earnings per share – diluted $ 0.21 $ 0.40 $ 0.41 $ 0.40 |
Description of Business - Addit
Description of Business - Additional Information (Detail) | Dec. 31, 2015Office |
Collaboration Arrangement Disclosure [Abstract] | |
Number of banking offices for conducting business | 30 |
Summary of Significant Accoun51
Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Schedule Of Summary Of Significant Accounting Policies [Line Items] | |||
Reserve requirements | $ 0 | $ 6,742,000 | |
Securities held for trading purposes | 0 | 0 | |
Mortgage loans held for sale | 5,651,250 | 4,516,835 | |
Outstanding loans sold to government agencies | $ 226,379,000 | $ 103,447,000 | |
Number of days for accrual interest to be discontinued and reversed against current income | 90 days | ||
Period for appraises of property | 12 months | ||
Repossessed Assets | $ 3,128,000 | $ 5,214,000 | |
Maximum limit of realized on examination | 50.00% | ||
Income tax interest or penalties | $ 0 | 0 | $ 0 |
Accrued liability for interest or penalty payments | 0 | 0 | 0 |
Tax effect for unrealized gains and losses on investment securities | (230,670) | 598,203 | (1,413,095) |
Tax effect on reclassification adjustment in net income | (2,548) | (639) | $ (149,870) |
Residential Mortgage [Member] | |||
Schedule Of Summary Of Significant Accounting Policies [Line Items] | |||
Remaining amount of covered loans | $ 3,700,000 | ||
Servicing Contracts [Member] | |||
Schedule Of Summary Of Significant Accounting Policies [Line Items] | |||
Amortization of intangibles | 10 years | ||
Minimum [Member] | |||
Schedule Of Summary Of Significant Accounting Policies [Line Items] | |||
Estimated useful lives of the individual assets | 3 years | ||
Minimum [Member] | Core Deposits [Member] | |||
Schedule Of Summary Of Significant Accounting Policies [Line Items] | |||
Amortization of intangibles | 9 years | ||
Maximum [Member] | |||
Schedule Of Summary Of Significant Accounting Policies [Line Items] | |||
Estimated useful lives of the individual assets | 40 years | ||
Maximum [Member] | Residential Mortgage [Member] | |||
Schedule Of Summary Of Significant Accounting Policies [Line Items] | |||
Percentage of covered loans | 0.20% | ||
Maximum [Member] | Core Deposits [Member] | |||
Schedule Of Summary Of Significant Accounting Policies [Line Items] | |||
Amortization of intangibles | 15 years | ||
Federal Home Loan Bank Certificates and Obligations (FHLB) [Member] | |||
Schedule Of Summary Of Significant Accounting Policies [Line Items] | |||
Outstanding loans sold to government agencies | $ 800,000 | ||
FHLB par value | $ 100 | ||
U S Government Agencies [Member] | |||
Schedule Of Summary Of Significant Accounting Policies [Line Items] | |||
Outstanding loans sold to government agencies | $ 226,379,000 | $ 103,447,000 |
Acquisition Activity - Addition
Acquisition Activity - Additional Information (Detail) | Sep. 15, 2015USD ($)$ / shares | Feb. 14, 2014USD ($) | Jul. 15, 2011USD ($) | Mar. 12, 2010USD ($)Branch | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) |
Business Acquisition [Line Items] | ||||||
Goodwill recorded | $ 11,095,000 | $ 899,000 | ||||
GS Financial Corp [Member] | ||||||
Business Acquisition [Line Items] | ||||||
Assets acquired | $ 256,677,000 | |||||
Loans included in acquired assets | 182,440,000 | |||||
Investment securities included in acquired assets | 46,481,000 | |||||
Cash included in acquired assets | 9,262,000 | |||||
Core deposit intangible asset recorded | 859,000 | |||||
Goodwill recorded | 296,000 | |||||
Liabilities assumed | 230,614,000 | |||||
Deposits included in assumed liabilities | 193,518,000 | |||||
Federal Home Loan Bank advances | 34,707,000 | |||||
Nonaccretable difference | $ 5,490,000 | |||||
Weighted average remaining contractual life | 5 years 7 months 6 days | |||||
Statewide Bank [Member] | ||||||
Business Acquisition [Line Items] | ||||||
Assets acquired | $ 188,026,000 | |||||
Loans included in acquired assets | 110,415,000 | |||||
Investment securities included in acquired assets | 24,841,000 | |||||
Cash included in acquired assets | 11,569,000 | |||||
Core deposit intangible asset recorded | 1,429,000 | |||||
Goodwill recorded | 560,000 | |||||
Liabilities assumed | 223,910,000 | |||||
Deposits included in assumed liabilities | 206,925,000 | |||||
Federal Home Loan Bank advances | 16,824,000 | |||||
Weighted average remaining contractual life | 5 years | |||||
FDIC loss sharing receivable | $ 34,422,000 | |||||
Number of branches expanded | Branch | 6 | |||||
Louisiana Bancorp, Inc [Member] | ||||||
Business Acquisition [Line Items] | ||||||
Shareholders received per share in cash | $ / shares | $ 24.25 | |||||
Date of acquisition | Sep. 15, 2015 | |||||
Aggregate purchase price | $ 70,021,000 | |||||
Goodwill recorded | 10,195,000 | |||||
Adjustment period of estimated fair value | 1 year | |||||
Assets acquired | 351,139,000 | |||||
Investment securities included in acquired assets | 36,420,000 | |||||
Cash included in acquired assets | 14,098,000 | |||||
Core deposit intangible asset recorded | 1,586,000 | |||||
Liabilities assumed | $ 291,313,000 | |||||
Britton & Koontz Capital Corporation [Member] | ||||||
Business Acquisition [Line Items] | ||||||
Assets acquired | $ 298,930,000 | |||||
Loans included in acquired assets | 162,581,000 | |||||
Investment securities included in acquired assets | 97,985,000 | |||||
Cash included in acquired assets | 15,342,000 | |||||
Core deposit intangible asset recorded | 3,030,000 | |||||
Goodwill recorded | 43,000 | |||||
Liabilities assumed | 264,458,000 | |||||
Deposits included in assumed liabilities | 216,600,000 | |||||
Federal Home Loan Bank advances | 9,252,000 | |||||
Other borrowings | 27,291,000 | |||||
Nonaccretable difference | $ 17,946,000 | |||||
Weighted average remaining contractual life | 1 year |
Acquisition Activity - Assets A
Acquisition Activity - Assets Acquired and Liabilities Assumed, as Well as the Adjustments to Record the Assets and Liabilities at Fair Value (Detail) - Louisiana Bancorp, Inc [Member] $ in Thousands | Sep. 15, 2015USD ($) |
Assets | |
Cash and cash equivalents | $ 14,098 |
Investment securities | 36,420 |
Loans | 281,583 |
Repossessed assets | 65 |
Office properties and equipment, net | 6,338 |
Core deposit intangible | 1,586 |
Other assets | 11,049 |
Total assets acquired | 351,139 |
Liabilities | |
Interest-bearing deposits | 180,355 |
Noninterest-bearing deposits | 28,315 |
FHLB advances | 75,957 |
Other liabilities | 6,686 |
Total liabilities assumed | 291,313 |
Excess of assets acquired over liabilities assumed | 59,826 |
Cash consideration paid | (70,021) |
Total goodwill recorded | 10,195 |
As Acquired [Member] | |
Assets | |
Cash and cash equivalents | 14,098 |
Investment securities | 35,794 |
Loans | 281,909 |
Repossessed assets | 64 |
Office properties and equipment, net | 3,349 |
Other assets | 10,747 |
Total assets acquired | 345,961 |
Liabilities | |
Interest-bearing deposits | 180,318 |
Noninterest-bearing deposits | 28,315 |
FHLB advances | 75,754 |
Other liabilities | 5,993 |
Total liabilities assumed | 290,380 |
Fair Value Adjustment [Member] | |
Assets | |
Investment securities | 626 |
Loans | (326) |
Repossessed assets | 1 |
Office properties and equipment, net | 2,989 |
Core deposit intangible | 1,586 |
Other assets | 302 |
Total assets acquired | 5,178 |
Liabilities | |
Interest-bearing deposits | 37 |
FHLB advances | 203 |
Other liabilities | 693 |
Total liabilities assumed | $ 933 |
Acquisition Activity - Assets54
Acquisition Activity - Assets Acquired and Liabilities Assumed, as Well as the Adjustments to Record the Assets and Liabilities at Fair Value (Parenthetical) (Detail) - Louisiana Bancorp, Inc [Member] $ in Millions | Sep. 15, 2015USD ($) |
Business Acquisition [Line Items] | |
Allowance for loan losses | $ 2.4 |
Adjustment for loan | $ 2.7 |
Estimated life of deposit base | 15 years |
Acquisition Activity - Estimate
Acquisition Activity - Estimated Condensed Consolidated Results of Operations (Detail) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Business Combinations [Abstract] | ||
Net interest income | $ 62,430 | $ 61,346 |
Noninterest income | 10,115 | 10,226 |
Noninterest expense | 47,563 | 49,722 |
Net income | $ 14,960 | $ 12,633 |
Earnings per share - basic | $ 2.23 | $ 1.93 |
Earnings per share - diluted | $ 2.14 | $ 1.82 |
Acquisition Activity - Summary
Acquisition Activity - Summary of the Accretable Yield on the Loans Acquired from Britton & Koontz with Deteriorated Credit Quality (Detail) - Britton & Koontz Capital Corporation [Member] - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Business Acquisition [Line Items] | ||
Balance, beginning of period | $ (1,824) | |
Acquisition accretable yield | $ (2,260) | |
Accretion | 590 | 436 |
Net transfers from nonaccretable difference to accretable yield | (448) | |
Balance, end of period | $ (1,682) | $ (1,824) |
Acquisition Activity - Summar57
Acquisition Activity - Summary of the Accretable Yield on the Loans Acquired from GSFC with Deteriorated Credit Quality (Detail) - GS Financial Corp [Member] - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Business Acquisition [Line Items] | |||
Balance, beginning of period | $ (1,270) | $ (1,281) | $ (839) |
Acquisition accretable yield | 0 | 0 | 0 |
Accretion | 2 | 11 | 133 |
Net transfers from nonaccretable difference to accretable yield | 1,218 | (575) | |
Balance, end of period | $ (50) | $ (1,270) | $ (1,281) |
Acquisition Activity - Summar58
Acquisition Activity - Summary of the Accretable Yield on the Acquired Loans (Detail) - Statewide Bank [Member] - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Business Acquisition [Line Items] | |||
Balance, beginning of period | $ (7,706) | $ (2,134) | $ (3,973) |
Acquisition accretable yield | 0 | 0 | 0 |
Accretion | 3,238 | 8,121 | 5,417 |
Net transfers from nonaccretable difference to accretable yield | 203 | (13,693) | (3,578) |
Balance, end of period | $ (4,265) | $ (7,706) | $ (2,134) |
Investment Securities - Summary
Investment Securities - Summary Information Regarding Investment Securities Classified as Available for Sale and Held to Maturity (Detail) - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 |
Schedule of Available-for-sale Securities [Line Items] | ||
Available for sale, Amortized Cost | $ 175,422,000 | $ 172,793,000 |
Available for sale, Gross Unrealized Gains | 2,150,000 | 2,796,000 |
Available for sale, Gross Unrealized Losses, Less Than 1 Year | 322,000 | 40,000 |
Available for sale, Gross Unrealized Losses, Over 1 Year | 488,000 | 748,000 |
Total available for sale, Fair Value | 176,762,200 | 174,800,516 |
Held to maturity, Amortized Cost | 13,927,000 | 11,705,000 |
Held to maturity, Gross Unrealized Gains | 239,000 | 202,000 |
Held to maturity, Gross Unrealized Losses, Less Than 1 Year | 45,000 | 3,000 |
Held to maturity, Gross Unrealized Losses, Over 1 Year | 15,000 | |
Total held to maturity, Fair Value | 14,120,842 | 11,889,335 |
Municipal Bonds [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for sale, Amortized Cost | 22,453,000 | 24,388,000 |
Available for sale, Gross Unrealized Gains | 490,000 | 561,000 |
Available for sale, Gross Unrealized Losses, Less Than 1 Year | 10,000 | 2,000 |
Available for sale, Gross Unrealized Losses, Over 1 Year | 51,000 | |
Total available for sale, Fair Value | 22,933,000 | 24,896,000 |
Held to maturity, Amortized Cost | 13,927,000 | 11,705,000 |
Held to maturity, Gross Unrealized Gains | 239,000 | 202,000 |
Held to maturity, Gross Unrealized Losses, Less Than 1 Year | 45,000 | 3,000 |
Held to maturity, Gross Unrealized Losses, Over 1 Year | 15,000 | |
Total held to maturity, Fair Value | 14,121,000 | 11,889,000 |
U.S. Agency Mortgage-Backed [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for sale, Amortized Cost | 134,748,000 | 120,009,000 |
Available for sale, Gross Unrealized Gains | 1,464,000 | 1,984,000 |
Available for sale, Gross Unrealized Losses, Less Than 1 Year | 287,000 | 10,000 |
Available for sale, Gross Unrealized Losses, Over 1 Year | 447,000 | 485,000 |
Total available for sale, Fair Value | 135,478,000 | 121,498,000 |
Non-U.S. Agency Mortgage-Backed [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for sale, Amortized Cost | 6,055,000 | 7,757,000 |
Available for sale, Gross Unrealized Gains | 51,000 | 61,000 |
Available for sale, Gross Unrealized Losses, Less Than 1 Year | 28,000 | |
Available for sale, Gross Unrealized Losses, Over 1 Year | 41,000 | 26,000 |
Total available for sale, Fair Value | 6,065,000 | 7,764,000 |
U.S. Government Agency [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for sale, Amortized Cost | 12,166,000 | 20,639,000 |
Available for sale, Gross Unrealized Gains | 145,000 | 190,000 |
Available for sale, Gross Unrealized Losses, Less Than 1 Year | 25,000 | |
Available for sale, Gross Unrealized Losses, Over 1 Year | 186,000 | |
Total available for sale, Fair Value | $ 12,286,000 | $ 20,643,000 |
Investment Securities - Additio
Investment Securities - Additional Information (Detail) | 12 Months Ended | |
Dec. 31, 2015USD ($)Securities | Dec. 31, 2014USD ($) | |
Amortized Cost and Fair Value Debt Securities [Abstract] | ||
Number of securities with unrealized loss | Securities | 48 | |
Percentage of gross unrealized loss | 1.40% | |
Percentage of amortized investment securities portfolio | 0.50% | |
Number of securities in continuous loss position | Securities | 13 | |
Loss duration | 12 months | |
Unrealized loss on debt securities | $ 488,000 | |
Amortized cost on debt securities in continuous loss | 16,115,000 | |
Gross gain on sale of investment securities | 8,000 | $ 2,000 |
Gross loss on sale of investment securities | 1,000 | 0 |
Accrued interest receivable for investment securities | 784,000 | 781,000 |
Securities pledged to secure public deposits | 94,661,000 | $ 76,491,000 |
Securities pledged to securities sold under repurchase agreements | $ 21,211,000 |
Investment Securities - Amortiz
Investment Securities - Amortized Cost and Estimated Fair Value by Maturity of Company's Investment Securities (Detail) - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 |
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Securities available for sale, One Year or Less, Fair Value | $ 931,000 | |
Securities available for sale, After One Year through Five Years, Fair Value | 21,162,000 | |
Securities available for sale, After Five Years through Ten Years, Fair Value | 43,962,000 | |
Securities available for sale, After Ten Years, Fair Value | 110,707,000 | |
Total Available for sale, Fair Value | 176,762,200 | $ 174,800,516 |
Securities held to maturity, One Year or Less, Fair Value | 237,000 | |
Securities held to maturity, One Year to Five Years, Fair Value | 1,105,000 | |
Securities held to maturity, Five to Ten Years, Fair Value | 8,783,000 | |
Securities held to maturity, Over Ten Years, Fair Value | 3,996,000 | |
Total held to maturity, Fair Value | 14,120,842 | 11,889,335 |
Securities available for sale, Amortized Cost, One Year or Less | 929,000 | |
Securities available for sale, Amortized Cost, After One Year Through Five Years | 20,899,000 | |
Securities available for sale, Amortized Cost, After Five Years Through Ten Years | 43,668,000 | |
Securities available for sale, Amortized Cost, After Ten Years | 109,926,000 | |
Available for sale, Amortized Cost | 175,422,000 | 172,793,000 |
Securities held to maturity, Amortized Cost, One Year or Less | 235,000 | |
Securities held to maturity, Amortized Cost, One Year to Five Years | 1,088,000 | |
Securities held to maturity, Amortized Cost, Five to Ten Years | 8,599,000 | |
Securities held to maturity, Amortized Cost, Over Ten Years | 4,005,000 | |
Securities held to maturity, Amortized Cost, Total | 13,926,861 | 11,705,470 |
Municipal Bonds [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Securities available for sale, One Year or Less, Fair Value | 930,000 | |
Securities available for sale, After One Year through Five Years, Fair Value | 7,765,000 | |
Securities available for sale, After Five Years through Ten Years, Fair Value | 12,032,000 | |
Securities available for sale, After Ten Years, Fair Value | 2,206,000 | |
Total Available for sale, Fair Value | 22,933,000 | 24,896,000 |
Securities held to maturity, One Year or Less, Fair Value | 237,000 | |
Securities held to maturity, One Year to Five Years, Fair Value | 1,105,000 | |
Securities held to maturity, Five to Ten Years, Fair Value | 8,783,000 | |
Securities held to maturity, Over Ten Years, Fair Value | 3,996,000 | |
Total held to maturity, Fair Value | 14,121,000 | 11,889,000 |
Securities available for sale, Amortized Cost, One Year or Less | 928,000 | |
Securities available for sale, Amortized Cost, After One Year Through Five Years | 7,615,000 | |
Securities available for sale, Amortized Cost, After Five Years Through Ten Years | 11,809,000 | |
Securities available for sale, Amortized Cost, After Ten Years | 2,101,000 | |
Available for sale, Amortized Cost | 22,453,000 | 24,388,000 |
Securities held to maturity, Amortized Cost, One Year or Less | 235,000 | |
Securities held to maturity, Amortized Cost, One Year to Five Years | 1,088,000 | |
Securities held to maturity, Amortized Cost, Five to Ten Years | 8,599,000 | |
Securities held to maturity, Amortized Cost, Over Ten Years | 4,005,000 | |
Securities held to maturity, Amortized Cost, Total | 13,927,000 | |
U.S. Agency Mortgage-Backed [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Securities available for sale, One Year or Less, Fair Value | 1,000 | |
Securities available for sale, After One Year through Five Years, Fair Value | 5,381,000 | |
Securities available for sale, After Five Years through Ten Years, Fair Value | 31,930,000 | |
Securities available for sale, After Ten Years, Fair Value | 98,166,000 | |
Total Available for sale, Fair Value | 135,478,000 | 121,498,000 |
Securities available for sale, Amortized Cost, One Year or Less | 1,000 | |
Securities available for sale, Amortized Cost, After One Year Through Five Years | 5,296,000 | |
Securities available for sale, Amortized Cost, After Five Years Through Ten Years | 31,859,000 | |
Securities available for sale, Amortized Cost, After Ten Years | 97,592,000 | |
Available for sale, Amortized Cost | 134,748,000 | 120,009,000 |
Non-U.S. Agency Mortgage-Backed [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Securities available for sale, After Ten Years, Fair Value | 6,065,000 | |
Total Available for sale, Fair Value | 6,065,000 | 7,764,000 |
Securities available for sale, Amortized Cost, After Ten Years | 6,055,000 | |
Available for sale, Amortized Cost | 6,055,000 | 7,757,000 |
U.S. Government Agency [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Securities available for sale, After One Year through Five Years, Fair Value | 8,016,000 | |
Securities available for sale, After Ten Years, Fair Value | 4,270,000 | |
Total Available for sale, Fair Value | 12,286,000 | 20,643,000 |
Securities available for sale, Amortized Cost, After One Year Through Five Years | 7,988,000 | |
Securities available for sale, Amortized Cost, After Ten Years | 4,178,000 | |
Available for sale, Amortized Cost | $ 12,166,000 | $ 20,639,000 |
Loans - Summary of Loans, Net o
Loans - Summary of Loans, Net of Unearned Income (Detail) - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | $ 1,224,365,916 | $ 908,967,871 |
Real Estate Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 1,051,343,000 | 758,641,000 |
Other Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 173,023,000 | 150,327,000 |
One- to Four-Family First Mortgage [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 391,266,000 | 233,249,000 |
One- to Four-Family First Mortgage [Member] | Real Estate Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 391,266,000 | 233,249,000 |
Home Equity Loans and Lines [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 94,060,000 | 56,000,000 |
Home Equity Loans and Lines [Member] | Real Estate Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 94,060,000 | 56,000,000 |
Commercial Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 405,379,000 | 352,863,000 |
Commercial Real Estate [Member] | Real Estate Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 405,379,000 | 352,863,000 |
Construction and Land [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 116,775,000 | 89,154,000 |
Construction and Land [Member] | Real Estate Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 116,775,000 | 89,154,000 |
Multi-Family Residential [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 43,863,000 | 27,375,000 |
Multi-Family Residential [Member] | Real Estate Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 43,863,000 | 27,375,000 |
Commercial and Industrial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 125,108,000 | 104,446,000 |
Commercial and Industrial [Member] | Other Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 125,108,000 | 104,446,000 |
Consumer [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | 47,915,000 | 45,881,000 |
Consumer [Member] | Other Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total loans | $ 47,915,000 | $ 45,881,000 |
Loans - Schedule of Activity in
Loans - Schedule of Activity in Allowance for Loan Losses (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Beginning balance | $ 7,760 | $ 6,918 | $ 5,319 |
Charge-offs | (562) | (1,714) | (2,155) |
Recoveries | 278 | 192 | 101 |
Provision | 2,071 | 2,364 | 3,653 |
Ending balance | 9,547 | 7,760 | 6,918 |
Originated Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Beginning balance | 7,342 | 6,670 | 5,114 |
Charge-offs | (397) | (1,559) | (2,119) |
Recoveries | 278 | 192 | 101 |
Provision | 1,951 | 2,039 | 3,574 |
Ending balance | 9,174 | 7,342 | 6,670 |
Acquired Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Beginning balance | 418 | 248 | 205 |
Charge-offs | (165) | (155) | (36) |
Provision | 120 | 325 | 79 |
Ending balance | 373 | 418 | 248 |
One- to Four-Family First Mortgage [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Beginning balance | 1,310 | 1,088 | 982 |
Charge-offs | (104) | (213) | (112) |
Recoveries | 30 | ||
Provision | 228 | 435 | 218 |
Ending balance | 1,464 | 1,310 | 1,088 |
One- to Four-Family First Mortgage [Member] | Originated Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Beginning balance | 1,136 | 904 | 798 |
Charge-offs | (62) | (99) | (76) |
Recoveries | 30 | ||
Provision | 268 | 331 | 182 |
Ending balance | 1,372 | 1,136 | 904 |
One- to Four-Family First Mortgage [Member] | Acquired Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Beginning balance | 174 | 184 | 184 |
Charge-offs | (42) | (114) | (36) |
Provision | (40) | 104 | 36 |
Ending balance | 92 | 174 | 184 |
Home Equity Loans and Lines [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Beginning balance | 553 | 424 | 343 |
Charge-offs | (27) | (2) | |
Recoveries | 20 | 5 | 10 |
Provision | 214 | 126 | 71 |
Ending balance | 760 | 553 | 424 |
Home Equity Loans and Lines [Member] | Originated Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Beginning balance | 442 | 366 | 322 |
Charge-offs | (15) | (2) | |
Recoveries | 20 | 5 | 10 |
Provision | 89 | 73 | 34 |
Ending balance | 536 | 442 | 366 |
Home Equity Loans and Lines [Member] | Acquired Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Beginning balance | 111 | 58 | 21 |
Charge-offs | (12) | ||
Provision | 125 | 53 | 37 |
Ending balance | 224 | 111 | 58 |
Commercial Real Estate [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Beginning balance | 2,922 | 2,528 | 2,040 |
Charge-offs | (41) | ||
Recoveries | 1 | ||
Provision | 229 | 435 | 488 |
Ending balance | 3,152 | 2,922 | 2,528 |
Commercial Real Estate [Member] | Originated Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Beginning balance | 2,922 | 2,528 | 2,040 |
Recoveries | 1 | ||
Provision | 229 | 394 | 488 |
Ending balance | 3,152 | 2,922 | 2,528 |
Commercial Real Estate [Member] | Acquired Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Charge-offs | (41) | ||
Provision | 41 | ||
Construction and Land [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Beginning balance | 1,101 | 977 | 785 |
Charge-offs | (111) | (19) | (44) |
Recoveries | 10 | ||
Provision | 427 | 143 | 226 |
Ending balance | 1,417 | 1,101 | 977 |
Construction and Land [Member] | Originated Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Beginning balance | 968 | 977 | 785 |
Charge-offs | (19) | (44) | |
Recoveries | 10 | ||
Provision | 392 | 10 | 226 |
Ending balance | 1,360 | 968 | 977 |
Construction and Land [Member] | Acquired Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Beginning balance | 133 | ||
Charge-offs | (111) | ||
Provision | 35 | 133 | |
Ending balance | 57 | 133 | |
Multi-Family Residential [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Beginning balance | 192 | 90 | 86 |
Provision | (19) | 102 | 4 |
Ending balance | 173 | 192 | 90 |
Multi-Family Residential [Member] | Originated Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Beginning balance | 192 | 90 | 86 |
Provision | (19) | 102 | 4 |
Ending balance | 173 | 192 | 90 |
Commercial and Industrial [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Beginning balance | 1,161 | 1,338 | 683 |
Charge-offs | (190) | (1,407) | (1,990) |
Recoveries | 226 | 184 | 57 |
Provision | 813 | 1,046 | 2,588 |
Ending balance | 2,010 | 1,161 | 1,338 |
Commercial and Industrial [Member] | Originated Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Beginning balance | 1,161 | 1,332 | 683 |
Charge-offs | (190) | (1,407) | (1,990) |
Recoveries | 226 | 184 | 57 |
Provision | 813 | 1,052 | 2,582 |
Ending balance | 2,010 | 1,161 | 1,332 |
Commercial and Industrial [Member] | Acquired Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Beginning balance | 6 | ||
Provision | (6) | 6 | |
Ending balance | 6 | ||
Consumer [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Beginning balance | 521 | 473 | 400 |
Charge-offs | (130) | (32) | (9) |
Recoveries | 1 | 3 | 24 |
Provision | 179 | 77 | 58 |
Ending balance | 571 | 521 | 473 |
Consumer [Member] | Originated Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Beginning balance | 521 | 473 | 400 |
Charge-offs | (130) | (32) | (9) |
Recoveries | 1 | 3 | 24 |
Provision | 179 | 77 | 58 |
Ending balance | $ 571 | $ 521 | $ 473 |
Loans - Allowance for Loan Loss
Loans - Allowance for Loan Losses and Recorded Investment in Loans (Detail) - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans | $ 9,547,487 | $ 7,759,500 |
Loans | 1,224,365,916 | 908,967,871 |
One- to Four-Family First Mortgage [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans | 391,266,000 | 233,249,000 |
Home Equity Loans and Lines [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans | 94,060,000 | 56,000,000 |
Commercial Real Estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans | 405,379,000 | 352,863,000 |
Construction and Land [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans | 116,775,000 | 89,154,000 |
Multi-Family Residential [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans | 43,863,000 | 27,375,000 |
Commercial and Industrial [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans | 125,108,000 | 104,446,000 |
Consumer [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans | 47,915,000 | 45,881,000 |
Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans | 9,547,000 | 7,760,000 |
Loans | 1,224,366,000 | 908,968,000 |
Loans [Member] | Originated Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Collectively evaluated for impairment, loans | 9,021,000 | 7,202,000 |
Individually evaluated for impairment, loans | 153,000 | 140,000 |
Collectively evaluated for impairment, loans | 796,879,000 | 703,452,000 |
Individually evaluated for impairment, loans | 966,000 | 1,983,000 |
Loans [Member] | Acquired Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans | 373,000 | 418,000 |
Loans | 426,521,000 | 203,533,000 |
Loans [Member] | One- to Four-Family First Mortgage [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans | 1,464,000 | 1,310,000 |
Loans | 391,266,000 | 233,249,000 |
Loans [Member] | One- to Four-Family First Mortgage [Member] | Originated Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Collectively evaluated for impairment, loans | 1,338,000 | 1,136,000 |
Individually evaluated for impairment, loans | 34,000 | |
Collectively evaluated for impairment, loans | 185,802,000 | 164,450,000 |
Individually evaluated for impairment, loans | 78,000 | 78,000 |
Loans [Member] | One- to Four-Family First Mortgage [Member] | Acquired Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans | 92,000 | 174,000 |
Loans | 205,386,000 | 68,721,000 |
Loans [Member] | Home Equity Loans and Lines [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans | 760,000 | 553,000 |
Loans | 94,060,000 | 56,000,000 |
Loans [Member] | Home Equity Loans and Lines [Member] | Originated Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Collectively evaluated for impairment, loans | 536,000 | 442,000 |
Collectively evaluated for impairment, loans | 40,251,000 | 34,485,000 |
Loans [Member] | Home Equity Loans and Lines [Member] | Acquired Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans | 224,000 | 111,000 |
Loans | 53,809,000 | 21,515,000 |
Loans [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans | 3,152,000 | 2,922,000 |
Loans | 405,379,000 | 352,863,000 |
Loans [Member] | Commercial Real Estate [Member] | Originated Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Collectively evaluated for impairment, loans | 3,066,000 | 2,815,000 |
Individually evaluated for impairment, loans | 86,000 | 107,000 |
Collectively evaluated for impairment, loans | 285,856,000 | 279,493,000 |
Individually evaluated for impairment, loans | 181,000 | 777,000 |
Loans [Member] | Commercial Real Estate [Member] | Acquired Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans | 119,342,000 | 72,593,000 |
Loans [Member] | Construction and Land [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans | 1,417,000 | 1,101,000 |
Loans | 116,775,000 | 89,154,000 |
Loans [Member] | Construction and Land [Member] | Originated Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Collectively evaluated for impairment, loans | 1,360,000 | 968,000 |
Collectively evaluated for impairment, loans | 109,007,000 | 77,057,000 |
Loans [Member] | Construction and Land [Member] | Acquired Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans | 57,000 | 133,000 |
Loans | 7,768,000 | 12,097,000 |
Loans [Member] | Multi-Family Residential [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans | 173,000 | 192,000 |
Loans | 43,863,000 | 27,375,000 |
Loans [Member] | Multi-Family Residential [Member] | Originated Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Collectively evaluated for impairment, loans | 173,000 | 192,000 |
Collectively evaluated for impairment, loans | 14,962,000 | 16,507,000 |
Loans [Member] | Multi-Family Residential [Member] | Acquired Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans | 28,901,000 | 10,868,000 |
Loans [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans | 2,010,000 | 1,161,000 |
Loans | 125,108,000 | 104,446,000 |
Loans [Member] | Commercial and Industrial [Member] | Originated Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Collectively evaluated for impairment, loans | 1,977,000 | 1,128,000 |
Individually evaluated for impairment, loans | 33,000 | 33,000 |
Collectively evaluated for impairment, loans | 115,360,000 | 88,411,000 |
Individually evaluated for impairment, loans | 707,000 | 1,128,000 |
Loans [Member] | Commercial and Industrial [Member] | Acquired Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans | 9,041,000 | 14,907,000 |
Loans [Member] | Consumer [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans | 571,000 | 521,000 |
Loans | 47,915,000 | 45,881,000 |
Loans [Member] | Consumer [Member] | Originated Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Collectively evaluated for impairment, loans | 571,000 | 521,000 |
Collectively evaluated for impairment, loans | 45,641,000 | 43,049,000 |
Loans [Member] | Consumer [Member] | Acquired Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Loans | $ 2,274,000 | $ 2,832,000 |
Loans - Allowance for Loan Lo65
Loans - Allowance for Loan Losses and Recorded Investment in Loans (Parenthetical) (Detail) - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Acquired loans | $ 9,547,487 | $ 7,759,500 |
Britton & Koontz [Member] | Acquired Loans [Member] | ASC 310-30 [Member] | GS Financial Corp [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Acquired loans | $ 20,000,000 | $ 32,000,000 |
Loans - Schedule of Credit Qual
Loans - Schedule of Credit Quality Indicators of Loan Portfolio (Detail) - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 |
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | $ 1,224,365,916 | $ 908,967,871 |
Total loans | 1,224,365,916 | 908,967,871 |
Originated Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 797,845,000 | 705,435,000 |
Acquired Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 426,521,000 | 203,533,000 |
One- to Four-Family First Mortgage [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 391,266,000 | 233,249,000 |
Total loans | 391,266,000 | 233,249,000 |
One- to Four-Family First Mortgage [Member] | Originated Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 185,880,000 | 164,528,000 |
One- to Four-Family First Mortgage [Member] | Acquired Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 205,386,000 | 68,721,000 |
Home Equity Loans and Lines [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 94,060,000 | 56,000,000 |
Total loans | 94,060,000 | 56,000,000 |
Home Equity Loans and Lines [Member] | Originated Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 40,251,000 | 34,485,000 |
Home Equity Loans and Lines [Member] | Acquired Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 53,809,000 | 21,515,000 |
Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 405,379,000 | 352,863,000 |
Total loans | 405,379,000 | 352,863,000 |
Commercial Real Estate [Member] | Originated Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 286,037,000 | 280,270,000 |
Commercial Real Estate [Member] | Acquired Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 119,342,000 | 72,593,000 |
Construction and Land [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 116,775,000 | 89,154,000 |
Total loans | 116,775,000 | 89,154,000 |
Construction and Land [Member] | Originated Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 109,007,000 | 77,057,000 |
Construction and Land [Member] | Acquired Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 7,768,000 | 12,097,000 |
Multi-Family Residential [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 43,863,000 | 27,375,000 |
Total loans | 43,863,000 | 27,375,000 |
Multi-Family Residential [Member] | Originated Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 14,962,000 | 16,507,000 |
Multi-Family Residential [Member] | Acquired Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 28,901,000 | 10,868,000 |
Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 125,108,000 | 104,446,000 |
Total loans | 125,108,000 | 104,446,000 |
Commercial and Industrial [Member] | Originated Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 116,067,000 | 89,539,000 |
Commercial and Industrial [Member] | Acquired Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 9,041,000 | 14,907,000 |
Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 47,915,000 | 45,881,000 |
Total loans | 47,915,000 | 45,881,000 |
Consumer [Member] | Originated Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 45,641,000 | 43,049,000 |
Consumer [Member] | Acquired Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 2,274,000 | 2,832,000 |
Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 1,196,521,000 | 868,885,000 |
Total loans | 1,196,521,000 | 868,885,000 |
Pass [Member] | Originated Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 787,666,000 | 693,088,000 |
Pass [Member] | Acquired Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 408,855,000 | 175,797,000 |
Pass [Member] | One- to Four-Family First Mortgage [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 384,829,000 | 224,683,000 |
Total loans | 384,829,000 | 224,683,000 |
Pass [Member] | One- to Four-Family First Mortgage [Member] | Originated Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 183,863,000 | 161,922,000 |
Pass [Member] | One- to Four-Family First Mortgage [Member] | Acquired Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 200,966,000 | 62,761,000 |
Pass [Member] | Home Equity Loans and Lines [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 93,088,000 | 54,573,000 |
Total loans | 93,088,000 | 54,573,000 |
Pass [Member] | Home Equity Loans and Lines [Member] | Originated Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 39,736,000 | 33,731,000 |
Pass [Member] | Home Equity Loans and Lines [Member] | Acquired Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 53,352,000 | 20,842,000 |
Pass [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 395,765,000 | 336,050,000 |
Total loans | 395,765,000 | 336,050,000 |
Pass [Member] | Commercial Real Estate [Member] | Originated Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 282,963,000 | 274,878,000 |
Pass [Member] | Commercial Real Estate [Member] | Acquired Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 112,802,000 | 61,172,000 |
Pass [Member] | Construction and Land [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 112,474,000 | 82,295,000 |
Total loans | 112,474,000 | 82,295,000 |
Pass [Member] | Construction and Land [Member] | Originated Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 107,901,000 | 75,888,000 |
Pass [Member] | Construction and Land [Member] | Acquired Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 4,573,000 | 6,407,000 |
Pass [Member] | Multi-Family Residential [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 42,893,000 | 23,817,000 |
Total loans | 42,893,000 | 23,817,000 |
Pass [Member] | Multi-Family Residential [Member] | Originated Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 14,962,000 | 15,642,000 |
Pass [Member] | Multi-Family Residential [Member] | Acquired Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 27,931,000 | 8,175,000 |
Pass [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 120,179,000 | 102,008,000 |
Total loans | 120,179,000 | 102,008,000 |
Pass [Member] | Commercial and Industrial [Member] | Originated Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 113,108,000 | 88,309,000 |
Pass [Member] | Commercial and Industrial [Member] | Acquired Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 7,071,000 | 13,699,000 |
Pass [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 47,293,000 | 45,459,000 |
Total loans | 47,293,000 | 45,459,000 |
Pass [Member] | Consumer [Member] | Originated Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 45,133,000 | 42,718,000 |
Pass [Member] | Consumer [Member] | Acquired Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 2,160,000 | 2,741,000 |
Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 10,413,000 | 9,269,000 |
Total loans | 10,413,000 | 9,269,000 |
Special Mention [Member] | Originated Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 2,444,000 | 5,170,000 |
Special Mention [Member] | Acquired Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 7,969,000 | 4,099,000 |
Special Mention [Member] | One- to Four-Family First Mortgage [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 1,230,000 | 1,258,000 |
Total loans | 1,230,000 | 1,258,000 |
Special Mention [Member] | One- to Four-Family First Mortgage [Member] | Originated Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 439,000 | 251,000 |
Special Mention [Member] | One- to Four-Family First Mortgage [Member] | Acquired Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 791,000 | 1,007,000 |
Special Mention [Member] | Home Equity Loans and Lines [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 414,000 | 312,000 |
Total loans | 414,000 | 312,000 |
Special Mention [Member] | Home Equity Loans and Lines [Member] | Originated Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 394,000 | 255,000 |
Special Mention [Member] | Home Equity Loans and Lines [Member] | Acquired Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 20,000 | 57,000 |
Special Mention [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 5,073,000 | 5,726,000 |
Total loans | 5,073,000 | 5,726,000 |
Special Mention [Member] | Commercial Real Estate [Member] | Originated Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 988,000 | 3,655,000 |
Special Mention [Member] | Commercial Real Estate [Member] | Acquired Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 4,085,000 | 2,071,000 |
Special Mention [Member] | Construction and Land [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 1,819,000 | 104,000 |
Total loans | 1,819,000 | 104,000 |
Special Mention [Member] | Construction and Land [Member] | Originated Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 103,000 | |
Special Mention [Member] | Construction and Land [Member] | Acquired Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 1,819,000 | 1,000 |
Special Mention [Member] | Multi-Family Residential [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 12,000 | 1,788,000 |
Total loans | 12,000 | 1,788,000 |
Special Mention [Member] | Multi-Family Residential [Member] | Originated Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 865,000 | |
Special Mention [Member] | Multi-Family Residential [Member] | Acquired Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 12,000 | 923,000 |
Special Mention [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 1,776,000 | 39,000 |
Total loans | 1,776,000 | 39,000 |
Special Mention [Member] | Commercial and Industrial [Member] | Originated Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 585,000 | 39,000 |
Special Mention [Member] | Commercial and Industrial [Member] | Acquired Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 1,191,000 | |
Special Mention [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 89,000 | 42,000 |
Total loans | 89,000 | 42,000 |
Special Mention [Member] | Consumer [Member] | Originated Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 38,000 | 2,000 |
Special Mention [Member] | Consumer [Member] | Acquired Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 51,000 | 40,000 |
Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 17,432,000 | 30,814,000 |
Total loans | 17,432,000 | 30,814,000 |
Substandard [Member] | Originated Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 7,735,000 | 7,177,000 |
Substandard [Member] | Acquired Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 9,697,000 | 23,637,000 |
Substandard [Member] | One- to Four-Family First Mortgage [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 5,207,000 | 7,308,000 |
Total loans | 5,207,000 | 7,308,000 |
Substandard [Member] | One- to Four-Family First Mortgage [Member] | Originated Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 1,578,000 | 2,355,000 |
Substandard [Member] | One- to Four-Family First Mortgage [Member] | Acquired Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 3,629,000 | 4,953,000 |
Substandard [Member] | Home Equity Loans and Lines [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 558,000 | 1,115,000 |
Total loans | 558,000 | 1,115,000 |
Substandard [Member] | Home Equity Loans and Lines [Member] | Originated Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 121,000 | 499,000 |
Substandard [Member] | Home Equity Loans and Lines [Member] | Acquired Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 437,000 | 616,000 |
Substandard [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 4,541,000 | 11,087,000 |
Total loans | 4,541,000 | 11,087,000 |
Substandard [Member] | Commercial Real Estate [Member] | Originated Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 2,086,000 | 1,737,000 |
Substandard [Member] | Commercial Real Estate [Member] | Acquired Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 2,455,000 | 9,350,000 |
Substandard [Member] | Construction and Land [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 2,482,000 | 6,755,000 |
Total loans | 2,482,000 | 6,755,000 |
Substandard [Member] | Construction and Land [Member] | Originated Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 1,106,000 | 1,066,000 |
Substandard [Member] | Construction and Land [Member] | Acquired Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 1,376,000 | 5,689,000 |
Substandard [Member] | Multi-Family Residential [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 958,000 | 1,770,000 |
Total loans | 958,000 | 1,770,000 |
Substandard [Member] | Multi-Family Residential [Member] | Acquired Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 958,000 | 1,770,000 |
Substandard [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 3,153,000 | 2,399,000 |
Total loans | 3,153,000 | 2,399,000 |
Substandard [Member] | Commercial and Industrial [Member] | Originated Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 2,374,000 | 1,191,000 |
Substandard [Member] | Commercial and Industrial [Member] | Acquired Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 779,000 | 1,208,000 |
Substandard [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 533,000 | 380,000 |
Total loans | 533,000 | 380,000 |
Substandard [Member] | Consumer [Member] | Originated Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 470,000 | 329,000 |
Substandard [Member] | Consumer [Member] | Acquired Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | $ 63,000 | $ 51,000 |
Loans - Schedule of Past Due Lo
Loans - Schedule of Past Due Loans (Detail) - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | $ 16,205,000 | $ 26,118,000 |
Current Loans | 1,208,161,000 | 882,850,000 |
Total loans | 1,224,365,916 | 908,967,871 |
30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 6,873,000 | 14,176,000 |
60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,690,000 | 2,916,000 |
Greater Than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 7,642,000 | 9,026,000 |
Originated Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 7,252,000 | 8,282,000 |
Current Loans | 790,593,000 | 697,153,000 |
Total loans | 797,845,000 | 705,435,000 |
Originated Loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 3,760,000 | 5,278,000 |
Originated Loans [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 727,000 | 272,000 |
Originated Loans [Member] | Greater Than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 2,765,000 | 2,732,000 |
Acquired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 8,953,000 | 17,836,000 |
Current Loans | 417,568,000 | 185,697,000 |
Total loans | 426,521,000 | 203,533,000 |
Acquired Loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 3,113,000 | 8,898,000 |
Acquired Loans [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 963,000 | 2,644,000 |
Acquired Loans [Member] | Greater Than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 4,877,000 | 6,294,000 |
Real Estate Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 13,338,000 | 22,935,000 |
Current Loans | 1,038,005,000 | 735,706,000 |
Total loans | 1,051,343,000 | 758,641,000 |
Real Estate Loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 5,851,000 | 12,757,000 |
Real Estate Loans [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,387,000 | 2,309,000 |
Real Estate Loans [Member] | Greater Than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 6,100,000 | 7,869,000 |
Real Estate Loans [Member] | Originated Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 4,951,000 | 6,125,000 |
Current Loans | 631,186,000 | 566,722,000 |
Total loans | 636,137,000 | 572,847,000 |
Real Estate Loans [Member] | Originated Loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 2,816,000 | 4,083,000 |
Real Estate Loans [Member] | Originated Loans [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 435,000 | 90,000 |
Real Estate Loans [Member] | Originated Loans [Member] | Greater Than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,700,000 | 1,952,000 |
Real Estate Loans [Member] | Acquired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 8,387,000 | 16,810,000 |
Current Loans | 406,819,000 | 168,984,000 |
Total loans | 415,206,000 | 185,794,000 |
Real Estate Loans [Member] | Acquired Loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 3,035,000 | 8,674,000 |
Real Estate Loans [Member] | Acquired Loans [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 952,000 | 2,219,000 |
Real Estate Loans [Member] | Acquired Loans [Member] | Greater Than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 4,400,000 | 5,917,000 |
Other Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 2,867,000 | 3,183,000 |
Current Loans | 170,156,000 | 147,144,000 |
Total loans | 173,023,000 | 150,327,000 |
Other Loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,022,000 | 1,419,000 |
Other Loans [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 303,000 | 607,000 |
Other Loans [Member] | Greater Than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,542,000 | 1,157,000 |
Other Loans [Member] | Originated Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 2,301,000 | 2,157,000 |
Current Loans | 159,407,000 | 130,431,000 |
Total loans | 161,708,000 | 132,588,000 |
Other Loans [Member] | Originated Loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 944,000 | 1,195,000 |
Other Loans [Member] | Originated Loans [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 292,000 | 182,000 |
Other Loans [Member] | Originated Loans [Member] | Greater Than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,065,000 | 780,000 |
Other Loans [Member] | Acquired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 566,000 | 1,026,000 |
Current Loans | 10,749,000 | 16,713,000 |
Total loans | 11,315,000 | 17,739,000 |
Other Loans [Member] | Acquired Loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 78,000 | 224,000 |
Other Loans [Member] | Acquired Loans [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 11,000 | 425,000 |
Other Loans [Member] | Acquired Loans [Member] | Greater Than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 477,000 | 377,000 |
One- to Four-Family First Mortgage [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | 391,266,000 | 233,249,000 |
One- to Four-Family First Mortgage [Member] | Originated Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | 185,880,000 | 164,528,000 |
One- to Four-Family First Mortgage [Member] | Acquired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | 205,386,000 | 68,721,000 |
One- to Four-Family First Mortgage [Member] | Real Estate Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 8,942,000 | 9,704,000 |
Current Loans | 382,324,000 | 223,545,000 |
Total loans | 391,266,000 | 233,249,000 |
One- to Four-Family First Mortgage [Member] | Real Estate Loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 4,150,000 | 4,379,000 |
One- to Four-Family First Mortgage [Member] | Real Estate Loans [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,320,000 | 1,431,000 |
One- to Four-Family First Mortgage [Member] | Real Estate Loans [Member] | Greater Than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 3,472,000 | 3,894,000 |
One- to Four-Family First Mortgage [Member] | Real Estate Loans [Member] | Originated Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 3,499,000 | 3,204,000 |
Current Loans | 182,381,000 | 161,324,000 |
Total loans | 185,880,000 | 164,528,000 |
One- to Four-Family First Mortgage [Member] | Real Estate Loans [Member] | Originated Loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 2,174,000 | 2,056,000 |
One- to Four-Family First Mortgage [Member] | Real Estate Loans [Member] | Originated Loans [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 435,000 | 90,000 |
One- to Four-Family First Mortgage [Member] | Real Estate Loans [Member] | Originated Loans [Member] | Greater Than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 890,000 | 1,058,000 |
One- to Four-Family First Mortgage [Member] | Real Estate Loans [Member] | Acquired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 5,443,000 | 6,500,000 |
Current Loans | 199,943,000 | 62,221,000 |
Total loans | 205,386,000 | 68,721,000 |
One- to Four-Family First Mortgage [Member] | Real Estate Loans [Member] | Acquired Loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,976,000 | 2,323,000 |
One- to Four-Family First Mortgage [Member] | Real Estate Loans [Member] | Acquired Loans [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 885,000 | 1,341,000 |
One- to Four-Family First Mortgage [Member] | Real Estate Loans [Member] | Acquired Loans [Member] | Greater Than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 2,582,000 | 2,836,000 |
Home Equity Loans and Lines [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | 94,060,000 | 56,000,000 |
Home Equity Loans and Lines [Member] | Originated Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | 40,251,000 | 34,485,000 |
Home Equity Loans and Lines [Member] | Acquired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | 53,809,000 | 21,515,000 |
Home Equity Loans and Lines [Member] | Real Estate Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 892,000 | 1,065,000 |
Current Loans | 93,168,000 | 54,935,000 |
Total loans | 94,060,000 | 56,000,000 |
Home Equity Loans and Lines [Member] | Real Estate Loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 414,000 | 683,000 |
Home Equity Loans and Lines [Member] | Real Estate Loans [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 40,000 | 97,000 |
Home Equity Loans and Lines [Member] | Real Estate Loans [Member] | Greater Than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 438,000 | 285,000 |
Home Equity Loans and Lines [Member] | Real Estate Loans [Member] | Originated Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 208,000 | 499,000 |
Current Loans | 40,043,000 | 33,986,000 |
Total loans | 40,251,000 | 34,485,000 |
Home Equity Loans and Lines [Member] | Real Estate Loans [Member] | Originated Loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 87,000 | 434,000 |
Home Equity Loans and Lines [Member] | Real Estate Loans [Member] | Originated Loans [Member] | Greater Than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 121,000 | 65,000 |
Home Equity Loans and Lines [Member] | Real Estate Loans [Member] | Acquired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 684,000 | 566,000 |
Current Loans | 53,125,000 | 20,949,000 |
Total loans | 53,809,000 | 21,515,000 |
Home Equity Loans and Lines [Member] | Real Estate Loans [Member] | Acquired Loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 327,000 | 249,000 |
Home Equity Loans and Lines [Member] | Real Estate Loans [Member] | Acquired Loans [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 40,000 | 97,000 |
Home Equity Loans and Lines [Member] | Real Estate Loans [Member] | Acquired Loans [Member] | Greater Than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 317,000 | 220,000 |
Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | 405,379,000 | 352,863,000 |
Commercial Real Estate [Member] | Originated Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | 286,037,000 | 280,270,000 |
Commercial Real Estate [Member] | Acquired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | 119,342,000 | 72,593,000 |
Commercial Real Estate [Member] | Real Estate Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 2,627,000 | 8,505,000 |
Current Loans | 402,752,000 | 344,358,000 |
Total loans | 405,379,000 | 352,863,000 |
Commercial Real Estate [Member] | Real Estate Loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 578,000 | 5,835,000 |
Commercial Real Estate [Member] | Real Estate Loans [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 6,000 | 1,000 |
Commercial Real Estate [Member] | Real Estate Loans [Member] | Greater Than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 2,043,000 | 2,669,000 |
Commercial Real Estate [Member] | Real Estate Loans [Member] | Originated Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,040,000 | 2,113,000 |
Current Loans | 284,997,000 | 278,157,000 |
Total loans | 286,037,000 | 280,270,000 |
Commercial Real Estate [Member] | Real Estate Loans [Member] | Originated Loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 438,000 | 1,284,000 |
Commercial Real Estate [Member] | Real Estate Loans [Member] | Originated Loans [Member] | Greater Than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 602,000 | 829,000 |
Commercial Real Estate [Member] | Real Estate Loans [Member] | Acquired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,587,000 | 6,392,000 |
Current Loans | 117,755,000 | 66,201,000 |
Total loans | 119,342,000 | 72,593,000 |
Commercial Real Estate [Member] | Real Estate Loans [Member] | Acquired Loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 140,000 | 4,551,000 |
Commercial Real Estate [Member] | Real Estate Loans [Member] | Acquired Loans [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 6,000 | 1,000 |
Commercial Real Estate [Member] | Real Estate Loans [Member] | Acquired Loans [Member] | Greater Than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,441,000 | 1,840,000 |
Construction and Land [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | 116,775,000 | 89,154,000 |
Construction and Land [Member] | Originated Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | 109,007,000 | 77,057,000 |
Construction and Land [Member] | Acquired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | 7,768,000 | 12,097,000 |
Construction and Land [Member] | Real Estate Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 851,000 | 2,265,000 |
Current Loans | 115,924,000 | 86,889,000 |
Total loans | 116,775,000 | 89,154,000 |
Construction and Land [Member] | Real Estate Loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 709,000 | 808,000 |
Construction and Land [Member] | Real Estate Loans [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 7,000 | 755,000 |
Construction and Land [Member] | Real Estate Loans [Member] | Greater Than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 135,000 | 702,000 |
Construction and Land [Member] | Real Estate Loans [Member] | Originated Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 204,000 | 309,000 |
Current Loans | 108,803,000 | 76,748,000 |
Total loans | 109,007,000 | 77,057,000 |
Construction and Land [Member] | Real Estate Loans [Member] | Originated Loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 117,000 | 309,000 |
Construction and Land [Member] | Real Estate Loans [Member] | Originated Loans [Member] | Greater Than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 87,000 | |
Construction and Land [Member] | Real Estate Loans [Member] | Acquired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 647,000 | 1,956,000 |
Current Loans | 7,121,000 | 10,141,000 |
Total loans | 7,768,000 | 12,097,000 |
Construction and Land [Member] | Real Estate Loans [Member] | Acquired Loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 592,000 | 499,000 |
Construction and Land [Member] | Real Estate Loans [Member] | Acquired Loans [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 7,000 | 755,000 |
Construction and Land [Member] | Real Estate Loans [Member] | Acquired Loans [Member] | Greater Than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 48,000 | 702,000 |
Multi-Family Residential [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | 43,863,000 | 27,375,000 |
Multi-Family Residential [Member] | Originated Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | 14,962,000 | 16,507,000 |
Multi-Family Residential [Member] | Acquired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | 28,901,000 | 10,868,000 |
Multi-Family Residential [Member] | Real Estate Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 26,000 | 1,396,000 |
Current Loans | 43,837,000 | 25,979,000 |
Total loans | 43,863,000 | 27,375,000 |
Multi-Family Residential [Member] | Real Estate Loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,052,000 | |
Multi-Family Residential [Member] | Real Estate Loans [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 14,000 | 25,000 |
Multi-Family Residential [Member] | Real Estate Loans [Member] | Greater Than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 12,000 | 319,000 |
Multi-Family Residential [Member] | Real Estate Loans [Member] | Originated Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current Loans | 14,962,000 | 16,507,000 |
Total loans | 14,962,000 | 16,507,000 |
Multi-Family Residential [Member] | Real Estate Loans [Member] | Acquired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 26,000 | 1,396,000 |
Current Loans | 28,875,000 | 9,472,000 |
Total loans | 28,901,000 | 10,868,000 |
Multi-Family Residential [Member] | Real Estate Loans [Member] | Acquired Loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,052,000 | |
Multi-Family Residential [Member] | Real Estate Loans [Member] | Acquired Loans [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 14,000 | 25,000 |
Multi-Family Residential [Member] | Real Estate Loans [Member] | Acquired Loans [Member] | Greater Than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 12,000 | 319,000 |
Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | 125,108,000 | 104,446,000 |
Commercial and Industrial [Member] | Originated Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | 116,067,000 | 89,539,000 |
Commercial and Industrial [Member] | Acquired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | 9,041,000 | 14,907,000 |
Commercial and Industrial [Member] | Other Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,583,000 | 1,676,000 |
Current Loans | 123,525,000 | 102,770,000 |
Total loans | 125,108,000 | 104,446,000 |
Commercial and Industrial [Member] | Other Loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 425,000 | 448,000 |
Commercial and Industrial [Member] | Other Loans [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 22,000 | 441,000 |
Commercial and Industrial [Member] | Other Loans [Member] | Greater Than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,136,000 | 787,000 |
Commercial and Industrial [Member] | Other Loans [Member] | Originated Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,133,000 | 771,000 |
Current Loans | 114,934,000 | 88,768,000 |
Total loans | 116,067,000 | 89,539,000 |
Commercial and Industrial [Member] | Other Loans [Member] | Originated Loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 411,000 | 271,000 |
Commercial and Industrial [Member] | Other Loans [Member] | Originated Loans [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 15,000 | 49,000 |
Commercial and Industrial [Member] | Other Loans [Member] | Originated Loans [Member] | Greater Than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 707,000 | 451,000 |
Commercial and Industrial [Member] | Other Loans [Member] | Acquired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 450,000 | 905,000 |
Current Loans | 8,591,000 | 14,002,000 |
Total loans | 9,041,000 | 14,907,000 |
Commercial and Industrial [Member] | Other Loans [Member] | Acquired Loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 14,000 | 177,000 |
Commercial and Industrial [Member] | Other Loans [Member] | Acquired Loans [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 7,000 | 392,000 |
Commercial and Industrial [Member] | Other Loans [Member] | Acquired Loans [Member] | Greater Than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 429,000 | 336,000 |
Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | 47,915,000 | 45,881,000 |
Consumer [Member] | Originated Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | 45,641,000 | 43,049,000 |
Consumer [Member] | Acquired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | 2,274,000 | 2,832,000 |
Consumer [Member] | Other Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,284,000 | 1,507,000 |
Current Loans | 46,631,000 | 44,374,000 |
Total loans | 47,915,000 | 45,881,000 |
Consumer [Member] | Other Loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 597,000 | 971,000 |
Consumer [Member] | Other Loans [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 281,000 | 166,000 |
Consumer [Member] | Other Loans [Member] | Greater Than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 406,000 | 370,000 |
Consumer [Member] | Other Loans [Member] | Originated Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,168,000 | 1,386,000 |
Current Loans | 44,473,000 | 41,663,000 |
Total loans | 45,641,000 | 43,049,000 |
Consumer [Member] | Other Loans [Member] | Originated Loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 533,000 | 924,000 |
Consumer [Member] | Other Loans [Member] | Originated Loans [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 277,000 | 133,000 |
Consumer [Member] | Other Loans [Member] | Originated Loans [Member] | Greater Than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 358,000 | 329,000 |
Consumer [Member] | Other Loans [Member] | Acquired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 116,000 | 121,000 |
Current Loans | 2,158,000 | 2,711,000 |
Total loans | 2,274,000 | 2,832,000 |
Consumer [Member] | Other Loans [Member] | Acquired Loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 64,000 | 47,000 |
Consumer [Member] | Other Loans [Member] | Acquired Loans [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 4,000 | 33,000 |
Consumer [Member] | Other Loans [Member] | Acquired Loans [Member] | Greater Than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | $ 48,000 | $ 41,000 |
Loans - Additional Information
Loans - Additional Information (Detail) | 12 Months Ended | |
Dec. 31, 2015USD ($)TDRsSecurityLoan | Dec. 31, 2014USD ($)SecurityLoan | |
Receivables [Abstract] | ||
Financing receivable, recorded investment, 90 days past due and still accruing | $ 0 | $ 0 |
Maximum period of non-covered loans past due and accruing | 90 days | 90 days |
Accrued interest receivable for loans | $ 3,940,000 | $ 3,179,000 |
TDR loans totaling | $ 3,645,000 | $ 730,000 |
Performing TDR not defaulted subsequent to restructuring or to the date financial statements available | TDRs | 0 | |
Number of loans modified as TDR in current year | SecurityLoan | 25 | 1 |
Troubled debt restructuring performed | $ 0 |
Loans - Summary of Information
Loans - Summary of Information Pertaining to Impaired Loans Excluding Acquired Loans (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment | $ 966 | $ 1,983 |
Unpaid Principal Balance | 966 | 1,983 |
Related Allowance | 153 | 140 |
Average Recorded Investment | 1,481 | 1,949 |
Interest Income Recognized | 55 | 54 |
With an Allowance Recorded [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment | 966 | 1,507 |
Unpaid Principal Balance | 966 | 1,507 |
Related Allowance | 153 | 140 |
Average Recorded Investment | 1,196 | 1,162 |
Interest Income Recognized | 55 | 50 |
With no Related Allowance Recorded [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment | 476 | |
Unpaid Principal Balance | 476 | |
Average Recorded Investment | 285 | 787 |
Interest Income Recognized | 4 | |
One- to Four-Family First Mortgage [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment | 78 | 78 |
Unpaid Principal Balance | 78 | 78 |
Related Allowance | 34 | |
Average Recorded Investment | 78 | 214 |
Interest Income Recognized | 5 | |
One- to Four-Family First Mortgage [Member] | With an Allowance Recorded [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment | 78 | |
Unpaid Principal Balance | 78 | |
Related Allowance | 34 | |
Average Recorded Investment | 6 | |
Interest Income Recognized | 5 | |
One- to Four-Family First Mortgage [Member] | With no Related Allowance Recorded [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment | 78 | |
Unpaid Principal Balance | 78 | |
Average Recorded Investment | 72 | 214 |
Commercial Real Estate [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment | 181 | 777 |
Unpaid Principal Balance | 181 | 777 |
Related Allowance | 86 | 107 |
Average Recorded Investment | 461 | 303 |
Interest Income Recognized | 11 | 10 |
Commercial Real Estate [Member] | With an Allowance Recorded [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment | 181 | 777 |
Unpaid Principal Balance | 181 | 777 |
Related Allowance | 86 | 107 |
Average Recorded Investment | 461 | 239 |
Interest Income Recognized | 11 | 10 |
Commercial Real Estate [Member] | With no Related Allowance Recorded [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Average Recorded Investment | 64 | |
Construction and Land [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Average Recorded Investment | 15 | |
Construction and Land [Member] | With no Related Allowance Recorded [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Average Recorded Investment | 15 | |
Commercial and Industrial [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment | 707 | 1,128 |
Unpaid Principal Balance | 707 | 1,128 |
Related Allowance | 33 | 33 |
Average Recorded Investment | 942 | 1,417 |
Interest Income Recognized | 39 | 44 |
Commercial and Industrial [Member] | With an Allowance Recorded [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment | 707 | 730 |
Unpaid Principal Balance | 707 | 730 |
Related Allowance | 33 | 33 |
Average Recorded Investment | 729 | 923 |
Interest Income Recognized | 39 | 40 |
Commercial and Industrial [Member] | With no Related Allowance Recorded [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment | 398 | |
Unpaid Principal Balance | 398 | |
Average Recorded Investment | $ 213 | 494 |
Interest Income Recognized | $ 4 |
Loans - Summary of Informatio70
Loans - Summary of Information Pertaining to Non Accrual Non Covered Loans (Detail) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccrual loans | $ 12,813 | $ 23,281 |
One- to Four-Family First Mortgage [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccrual loans | 3,577 | 6,501 |
Home Equity Loans and Lines [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccrual loans | 534 | 547 |
Commercial Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccrual loans | 4,197 | 6,327 |
Construction and Land [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccrual loans | 207 | 5,356 |
Multi-Family Residential [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccrual loans | 763 | 1,770 |
Commercial and Industrial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccrual loans | 2,984 | 2,359 |
Consumer [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccrual loans | 552 | 421 |
Originated Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccrual loans | 5,651 | 3,843 |
Originated Loans [Member] | One- to Four-Family First Mortgage [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccrual loans | 928 | 1,429 |
Originated Loans [Member] | Home Equity Loans and Lines [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccrual loans | 121 | 65 |
Originated Loans [Member] | Commercial Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccrual loans | 1,671 | 829 |
Originated Loans [Member] | Construction and Land [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccrual loans | 87 | |
Originated Loans [Member] | Commercial and Industrial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccrual loans | 2,374 | 1,191 |
Originated Loans [Member] | Consumer [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccrual loans | 470 | 329 |
Acquired Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccrual loans | 7,162 | 19,438 |
Acquired Loans [Member] | One- to Four-Family First Mortgage [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccrual loans | 2,649 | 5,072 |
Acquired Loans [Member] | Home Equity Loans and Lines [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccrual loans | 412 | 482 |
Acquired Loans [Member] | Commercial Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccrual loans | 2,526 | 5,498 |
Acquired Loans [Member] | Construction and Land [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccrual loans | 121 | 5,356 |
Acquired Loans [Member] | Multi-Family Residential [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccrual loans | 763 | 1,770 |
Acquired Loans [Member] | Commercial and Industrial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccrual loans | 610 | 1,168 |
Acquired Loans [Member] | Consumer [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccrual loans | $ 81 | $ 92 |
Loans - Summary of Informatio71
Loans - Summary of Information Pertaining to Non Accrual Non Covered Loans (Parenthetical) (Detail) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccrual loans | $ 12,813 | $ 23,281 |
Acquired Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccrual loans | 7,162 | 19,438 |
Acquired Loans [Member] | ASC 310-30 [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Nonaccrual loans | $ 4,600 | $ 11,800 |
Loans - Information about Compa
Loans - Information about Company's TDRs (Detail) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | $ 1,217 | $ 648 |
Past Due Greater Than 30 Days | 73 | 77 |
Nonaccrual TDRs | 4,972 | 2,156 |
Total TDRs | 6,262 | 2,881 |
Real Estate Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 1,190 | 646 |
Past Due Greater Than 30 Days | 73 | 77 |
Nonaccrual TDRs | 2,456 | 1,424 |
Total TDRs | 3,719 | 2,147 |
Real Estate Loans [Member] | One- to Four-Family First Mortgage [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 700 | 432 |
Past Due Greater Than 30 Days | 73 | 77 |
Nonaccrual TDRs | 53 | 340 |
Total TDRs | 826 | 849 |
Real Estate Loans [Member] | Home Equity Loans and Lines [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 383 | |
Nonaccrual TDRs | 3 | |
Total TDRs | 386 | |
Real Estate Loans [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 107 | 111 |
Nonaccrual TDRs | 2,261 | 967 |
Total TDRs | 2,368 | 1,078 |
Real Estate Loans [Member] | Construction and Land [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 103 | |
Nonaccrual TDRs | 139 | 117 |
Total TDRs | 139 | 220 |
Other Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 27 | 2 |
Nonaccrual TDRs | 2,516 | 732 |
Total TDRs | 2,543 | 734 |
Other Loans [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual TDRs | 2,374 | 730 |
Total TDRs | 2,374 | 730 |
Other Loans [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 27 | 2 |
Nonaccrual TDRs | 142 | 2 |
Total TDRs | 169 | 4 |
Originated Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 798 | 214 |
Nonaccrual TDRs | 3,713 | 1,021 |
Total TDRs | 4,511 | 1,235 |
Originated Loans [Member] | Real Estate Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 771 | 214 |
Nonaccrual TDRs | 1,197 | 291 |
Total TDRs | 1,968 | 505 |
Originated Loans [Member] | Real Estate Loans [Member] | One- to Four-Family First Mortgage [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 281 | |
Nonaccrual TDRs | 38 | 291 |
Total TDRs | 319 | 291 |
Originated Loans [Member] | Real Estate Loans [Member] | Home Equity Loans and Lines [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 383 | |
Nonaccrual TDRs | 3 | |
Total TDRs | 386 | |
Originated Loans [Member] | Real Estate Loans [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 107 | 111 |
Nonaccrual TDRs | 1,069 | |
Total TDRs | 1,176 | 111 |
Originated Loans [Member] | Real Estate Loans [Member] | Construction and Land [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 103 | |
Nonaccrual TDRs | 87 | |
Total TDRs | 87 | 103 |
Originated Loans [Member] | Other Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 27 | |
Nonaccrual TDRs | 2,516 | 730 |
Total TDRs | 2,543 | 730 |
Originated Loans [Member] | Other Loans [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual TDRs | 2,374 | 730 |
Total TDRs | 2,374 | 730 |
Originated Loans [Member] | Other Loans [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 27 | |
Nonaccrual TDRs | 142 | |
Total TDRs | 169 | |
Acquired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 419 | |
Past Due Greater Than 30 Days | 73 | |
Nonaccrual TDRs | 1,259 | |
Total TDRs | 1,751 | |
Acquired Loans [Member] | Real Estate Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 419 | |
Past Due Greater Than 30 Days | 73 | |
Nonaccrual TDRs | 1,259 | |
Total TDRs | 1,751 | |
Acquired Loans [Member] | Real Estate Loans [Member] | One- to Four-Family First Mortgage [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 419 | |
Past Due Greater Than 30 Days | 73 | |
Nonaccrual TDRs | 15 | |
Total TDRs | 507 | |
Acquired Loans [Member] | Real Estate Loans [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual TDRs | 1,192 | |
Total TDRs | 1,192 | |
Acquired Loans [Member] | Real Estate Loans [Member] | Construction and Land [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual TDRs | 52 | |
Total TDRs | $ 52 | |
Non-Covered Acquired Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 434 | |
Past Due Greater Than 30 Days | 77 | |
Nonaccrual TDRs | 1,135 | |
Total TDRs | 1,646 | |
Non-Covered Acquired Loans [Member] | Real Estate Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 432 | |
Past Due Greater Than 30 Days | 77 | |
Nonaccrual TDRs | 1,133 | |
Total TDRs | 1,642 | |
Non-Covered Acquired Loans [Member] | Real Estate Loans [Member] | One- to Four-Family First Mortgage [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 432 | |
Past Due Greater Than 30 Days | 77 | |
Nonaccrual TDRs | 49 | |
Total TDRs | 558 | |
Non-Covered Acquired Loans [Member] | Real Estate Loans [Member] | Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual TDRs | 967 | |
Total TDRs | 967 | |
Non-Covered Acquired Loans [Member] | Real Estate Loans [Member] | Construction and Land [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual TDRs | 117 | |
Total TDRs | 117 | |
Non-Covered Acquired Loans [Member] | Other Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 2 | |
Nonaccrual TDRs | 2 | |
Total TDRs | 4 | |
Non-Covered Acquired Loans [Member] | Other Loans [Member] | Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 2 | |
Nonaccrual TDRs | 2 | |
Total TDRs | $ 4 |
Loans - Summary of Informatio73
Loans - Summary of Information Pertaining to Modified Terms of Loans (Detail) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015USD ($)Contract | Dec. 31, 2014USD ($)Contract | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Number of Contracts | Contract | 34 | 12 |
Pre-modification Outstanding Recorded Investment | $ 7,255 | $ 3,379 |
Post-modification Outstanding Recorded Investment | $ 6,262 | $ 2,881 |
One- to Four-Family First Mortgage [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Number of Contracts | Contract | 5 | 5 |
Pre-modification Outstanding Recorded Investment | $ 987 | $ 1,007 |
Post-modification Outstanding Recorded Investment | $ 826 | $ 849 |
Home Equity Loans and Lines [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Number of Contracts | Contract | 2 | |
Pre-modification Outstanding Recorded Investment | $ 386 | |
Post-modification Outstanding Recorded Investment | $ 386 | |
Commercial Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Number of Contracts | Contract | 6 | 2 |
Pre-modification Outstanding Recorded Investment | $ 2,513 | $ 1,088 |
Post-modification Outstanding Recorded Investment | $ 2,368 | $ 1,078 |
Construction and Land [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Number of Contracts | Contract | 2 | 2 |
Pre-modification Outstanding Recorded Investment | $ 469 | $ 494 |
Post-modification Outstanding Recorded Investment | $ 139 | $ 220 |
Commercial and Industrial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Number of Contracts | Contract | 15 | 1 |
Pre-modification Outstanding Recorded Investment | $ 2,715 | $ 761 |
Post-modification Outstanding Recorded Investment | $ 2,374 | $ 730 |
Consumer [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Number of Contracts | Contract | 4 | 2 |
Pre-modification Outstanding Recorded Investment | $ 185 | $ 29 |
Post-modification Outstanding Recorded Investment | $ 169 | $ 4 |
Loan Servicing - Unpaid Princip
Loan Servicing - Unpaid Principal Balance of Serviced Mortgage Loans for Others (Detail) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Balance, end of period | $ 226,379 | $ 103,447 |
Federal Home Loan Mortgage Corporation Certificates and Obligations (FHLMC) [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Balance, end of period | 7,710 | 10,821 |
Federal National Mortgage Association Certificates and Obligations (FNMA) [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Balance, end of period | 217,869 | $ 92,626 |
Federal Home Loan Bank Certificates and Obligations (FHLB) [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Balance, end of period | $ 800 |
Loan Servicing - Activity Relat
Loan Servicing - Activity Related to Servicing Assets (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Servicing Asset at Amortized Cost [Line Items] | |||
Balance at the beginning of the year | $ 356 | $ 516 | $ 611 |
Recognition of servicing assets from the transfer of financial assets | 18 | 101 | |
Amortization | (180) | (160) | (196) |
Balance, end of period | 876 | 356 | 516 |
Fair value, end of period | 1,561 | $ 629 | $ 1,009 |
Louisiana Bancorp, Inc [Member] | |||
Servicing Asset at Amortized Cost [Line Items] | |||
Recognition of servicing assets from the transfer of financial assets | $ 682 |
Loan Servicing - Additional Inf
Loan Servicing - Additional Information (Detail) - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 |
Loan Servicing [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Foregoing loan servicing arrangements | $ 1,336,000 | $ 1,044,000 |
Office Properties and Equipme77
Office Properties and Equipment - Summary of Office Properties and Equipment (Detail) - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 |
Property, Plant and Equipment [Line Items] | ||
Total office properties and equipment, Gross | $ 56,050,000 | $ 52,879,000 |
Less accumulated depreciation | 15,234,000 | 14,914,000 |
Total office properties and equipment, net | 40,815,744 | 37,964,714 |
Land [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Total office properties and equipment, Gross | 14,049,000 | 12,224,000 |
Building and Improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Total office properties and equipment, Gross | 31,084,000 | 29,252,000 |
Furniture and Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Total office properties and equipment, Gross | $ 10,917,000 | $ 11,403,000 |
Office Properties and Equipme78
Office Properties and Equipment - Additional Information (Detail) - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Property, Plant and Equipment [Abstract] | |||
Depreciation expense | $ 1,807,480 | $ 1,737,579 | $ 1,420,986 |
Goodwill and Intangibles - Addi
Goodwill and Intangibles - Additional Information (Detail) - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Finite-Lived Intangible Assets [Line Items] | ||||
Goodwill | $ 11,095,000 | $ 899,000 | ||
Carrying amount of mortgage servicing asset | 876,000 | 356,000 | $ 516,000 | $ 611,000 |
Core Deposits [Member] | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Amortization on core deposit intangible | $ 744,000 | $ 716,000 | $ 332,000 |
Goodwill and Intangibles - Summ
Goodwill and Intangibles - Summary of Core Deposit Intangible Assets (Detail) - Core Deposits [Member] - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Finite-Lived Intangible Assets [Line Items] | |||
Gross carrying amount | $ 3,367,000 | $ 1,053,000 | |
Core deposit intangibles acquired during the year | 1,586,000 | 3,030,000 | |
Less amortization | (744,000) | (716,000) | $ (332,000) |
Total core deposit intangible asset | $ 4,209,000 | $ 3,367,000 |
Deposits - Schedule of Deposits
Deposits - Schedule of Deposits Classifications (Detail) - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 |
Banking and Thrift [Abstract] | ||
Demand deposit accounts | $ 296,617,000 | $ 267,660,000 |
Savings | 109,393,000 | 81,145,000 |
Money market accounts | 293,637,000 | 219,456,000 |
NOW accounts | 267,707,000 | 204,536,000 |
Certificates of deposit | 276,863,000 | 220,775,000 |
Total deposits | $ 1,244,216,516 | $ 993,572,593 |
Deposits - Scheduled Maturities
Deposits - Scheduled Maturities of Certificates of Deposit (Detail) $ in Thousands | Dec. 31, 2015USD ($) |
Banking and Thrift [Abstract] | |
2,015 | $ 164,500 |
2,016 | 59,267 |
2,017 | 21,111 |
2,018 | 11,561 |
2,019 | 9,050 |
Thereafter | 11,374 |
Total certificates of deposit | $ 276,863 |
Deposits - Additional Informati
Deposits - Additional Information (Detail) - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 |
Banking and Thrift [Abstract] | ||
Aggregate amount of certificates of deposit | $ 27,272,000 | $ 20,179,000 |
Short-term FHLB Advances - Addi
Short-term FHLB Advances - Additional Information (Detail) - USD ($) | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Banking and Thrift [Abstract] | ||
Short-term FHLB advances | $ 39,939,375 | $ 31,000,000 |
Average volume of FHLB balances | 19,466,000 | 81,173,000 |
Additional FHLB advances | 480,654,000 | $ 423,182,000 |
Loans pledged through the Bank's blanket lien | $ 542,674,000 |
Long-term FHLB Advances - Addit
Long-term FHLB Advances - Additional Information (Detail) - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 |
Banking and Thrift [Abstract] | ||
Long-term FHLB Advances | $ 85,213,222 | $ 16,500,000 |
Long-term FHLB Advances - Summa
Long-term FHLB Advances - Summary of Long-term Advances (Detail) $ in Thousands | Dec. 31, 2015USD ($) |
Banking and Thrift [Abstract] | |
2,016 | $ 5,358 |
2,017 | 22,854 |
2,018 | 5,986 |
2,019 | 12,551 |
2,020 | 32,622 |
Thereafter | 5,842 |
Total long-term FHLB advances | $ 85,213 |
2,016 | 1.09% |
2,017 | 2.19% |
2,018 | 1.32% |
2,019 | 1.68% |
2,020 | 1.60% |
Thereafter | 2.18% |
Total long-term FHLB advances | 1.76% |
Securities Sold Under Repurch87
Securities Sold Under Repurchase Agreement - Additional Information (Detail) | 12 Months Ended |
Dec. 31, 2014USD ($) | |
Assets Sold under Agreements to Repurchase [Line Items] | |
Securities sold under repurchase agreement | $ 20,370,892 |
Britton & Koontz Capital Corporation [Member] | |
Assets Sold under Agreements to Repurchase [Line Items] | |
Securities sold under repurchase agreement | $ 20,371,000 |
Interest rate of investment securities | 0.36% |
Totaled securities | $ 21,211,000 |
Britton & Koontz Capital Corporation [Member] | Minimum [Member] | |
Assets Sold under Agreements to Repurchase [Line Items] | |
Coupon rate of securities | 1.25% |
Maturity period of securities | 2,016 |
Britton & Koontz Capital Corporation [Member] | Maximum [Member] | |
Assets Sold under Agreements to Repurchase [Line Items] | |
Coupon rate of securities | 3.75% |
Maturity period of securities | 2,028 |
Income Taxes - Summarized Incom
Income Taxes - Summarized Income Tax (Benefit) Expense (Detail) - USD ($) | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Income Tax Disclosure [Abstract] | |||||||||||
Current | $ 6,040,000 | $ 4,690,000 | $ 5,001,000 | ||||||||
Deferred | 630,864 | 516,456 | (1,265,038) | ||||||||
Income tax expense | $ 2,026,000 | $ 1,739,000 | $ 1,441,000 | $ 1,465,000 | $ 1,518,000 | $ 1,637,000 | $ 1,420,000 | $ 631,000 | $ 6,670,559 | $ 5,206,383 | $ 3,736,138 |
Income Taxes - Summarized Defer
Income Taxes - Summarized Deferred Tax Asset (Detail) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Deferred tax assets: | ||
Provision for loan losses | $ 3,341 | $ 2,716 |
Discount on purchased loans | 1,278 | 1,999 |
Borrowings | 130 | |
Acquired tax credits | 1,069 | 1,931 |
Salary continuation plan | 929 | 538 |
Mortgage servicing rights | 150 | |
Deferred compensation | 120 | 119 |
Stock-based compensation | 730 | 710 |
Real estate owned | 143 | 458 |
Other | 1,808 | 880 |
Deferred tax assets | 9,568 | 9,481 |
Deferred tax liabilities: | ||
FHLB stock dividends | (60) | (7) |
Accumulated depreciation | (2,963) | (1,297) |
Intangible assets | (898) | (545) |
Unrealized gain on securities available for sale | (469) | (703) |
Mortgage servicing rights | (125) | |
Premium on investment securities acquired | (760) | (446) |
Other | (1,721) | (84) |
Deferred tax liabilities | (6,871) | (3,207) |
Net deferred tax asset | $ 2,697 | $ 6,274 |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Income Taxes [Line Items] | |||
Federal income tax statutory rate | 35.00% | 35.00% | 35.00% |
Retained earnings | $ 5,837,000 | $ 5,837,000 | |
Portion of retained earnings not treated for deferred federal income tax liability | 0 | 0 | |
Unrecorded deferred income tax liability | 1,985,000 | 1,985,000 | |
Domestic Tax Authority [Member] | |||
Income Taxes [Line Items] | |||
Recognized deferred federal income tax liability | $ 0 | $ 0 |
Income Taxes - Provision for Fe
Income Taxes - Provision for Federal Income Taxes (Detail) - USD ($) | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Income Tax Disclosure [Abstract] | |||||||||||
Federal tax based on statutory rate | $ 6,706,000 | $ 5,263,000 | $ 3,857,000 | ||||||||
State tax based on statutory rate | 60,000 | 41,000 | 10,000 | ||||||||
(Decrease) increase resulting from: | |||||||||||
Effect of tax-exempt income | (242,000) | (225,000) | (294,000) | ||||||||
Changes the cash surrender value of bank owned life insurance | (176,000) | (160,000) | (162,000) | ||||||||
Nondeductible merger-related expenses | 261,000 | 52,000 | 62,000 | ||||||||
Nondeductible share based compensation expense | 178,000 | 203,000 | 230,000 | ||||||||
Other | (116,000) | 32,000 | 33,000 | ||||||||
Income tax expense | $ 2,026,000 | $ 1,739,000 | $ 1,441,000 | $ 1,465,000 | $ 1,518,000 | $ 1,637,000 | $ 1,420,000 | $ 631,000 | $ 6,670,559 | $ 5,206,383 | $ 3,736,138 |
Effective tax rate | 34.70% | 34.50% | 33.90% |
Commitments and Contingencies -
Commitments and Contingencies - Additional Information (Detail) | 12 Months Ended |
Dec. 31, 2015USD ($) | |
Commitments and Contingencies Disclosure [Abstract] | |
Loan commitments maturities period | 1 year |
Commitments which present an unusual risk | $ 0 |
Material losses anticipated | $ 0 |
Commitments and Contingencies93
Commitments and Contingencies - Summary of Outstanding Commitments to Originate Loans and to Advance Additional Amounts (Detail) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Standby Letters of Credit [Member] | ||
Other Commitments [Line Items] | ||
Contract Amount | $ 3,764 | $ 5,405 |
Available Portion of Lines of Credit [Member] | ||
Other Commitments [Line Items] | ||
Contract Amount | 127,393 | 107,242 |
Undisbursed Portion of Loans in Process [Member] | ||
Other Commitments [Line Items] | ||
Contract Amount | 73,699 | 54,200 |
Commitments to Originate Loans [Member] | ||
Other Commitments [Line Items] | ||
Contract Amount | $ 89,653 | $ 96,506 |
Regulatory Matters - Additional
Regulatory Matters - Additional Information (Detail) $ in Billions | 12 Months Ended |
Dec. 31, 2015USD ($) | |
Regulated Operations [Abstract] | |
Consolidated assets of major bank holding companies under regulatory operations | $ 1 |
Transition period for new regulations to be implemented | 5 years |
Regulatory Matters - Company's
Regulatory Matters - Company's and the Bank's Actual Capital Amounts and Ratios (Detail) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Tier 1 risk-based capital, Actual amount | $ 151,221 | |
Total risk-based capital, Actual amount | 160,769 | |
Tier 1 leverage capital, Actual amount | $ 151,221 | |
Tier 1 risk-based capital, Actual percentage | 13.05% | |
Total risk-based capital, Actual percentage | 13.87% | |
Tier 1 leverage capital, Actual percentage | 9.82% | |
Tier 1 risk-based capital, Minimum For Capital Adequacy Purposes, amount | $ 69,534 | |
Total risk-based capital, Minimum For Capital Adequacy Purposes, amount | 92,712 | |
Tier 1 leverage capital, Minimum For Capital Adequacy Purposes, amount | $ 61,569 | |
Tier 1 risk-based capital, Minimum For Capital Adequacy Purposes, percentage | 6.00% | |
Total risk-based capital, Minimum For Capital Adequacy Purposes, percentage | 8.00% | |
Tier 1 leverage capital, Minimum For Capital Adequacy Purposes, percentage | 4.00% | |
Home Bank N.A. [Member] | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Common equity tier 1 capital ratio, actual amount | $ 134,348 | |
Tier 1 risk-based capital, Actual amount | 134,348 | $ 145,325 |
Total risk-based capital, Actual amount | 143,895 | 153,085 |
Tier 1 leverage capital, Actual amount | $ 134,348 | $ 145,325 |
Common equity tier 1 capital ratio, actual ratio | 11.61% | |
Tier 1 risk-based capital, Actual percentage | 11.61% | 16.94% |
Total risk-based capital, Actual percentage | 12.43% | 17.85% |
Tier 1 leverage capital, Actual percentage | 8.74% | 11.96% |
Common equity tier 1 capital ratio, minimum capital requirements amount | $ 52,087 | |
Tier 1 risk-based capital, Minimum For Capital Adequacy Purposes, amount | 69,449 | $ 34,303 |
Total risk-based capital, Minimum For Capital Adequacy Purposes, amount | 92,599 | 68,605 |
Tier 1 leverage capital, Minimum For Capital Adequacy Purposes, amount | $ 61,512 | $ 48,603 |
Common equity tier 1 capital ratio, minimum capital requirements ratio | 4.50% | |
Tier 1 risk-based capital, Minimum For Capital Adequacy Purposes, percentage | 6.00% | 4.00% |
Total risk-based capital, Minimum For Capital Adequacy Purposes, percentage | 8.00% | 8.00% |
Tier 1 leverage capital, Minimum For Capital Adequacy Purposes, percentage | 4.00% | 4.00% |
Common equity tier 1 capital ratio, minimum required to be well capitalized under prompt corrective action provisions amount | $ 75,237 | |
Tier 1 risk-based capital, To Be Well Capitalized Under Prompt Corrective Action Provisions, amount | 92,599 | $ 51,454 |
Total risk-based capital, To Be Well Capitalized Under Prompt Corrective Action Provisions, amount | 115,749 | 85,757 |
Tier 1 leverage capital, To Be Well Capitalized Under Prompt Corrective Action Provisions, amount | $ 76,890 | $ 60,755 |
Common equity tier 1 capital ratio, minimum required to be well capitalized under prompt corrective action provisions ratio | 6.50% | |
Tier 1 risk-based capital, To Be Well Capitalized Under Prompt Corrective Action Provisions, percentage | 8.00% | 6.00% |
Total risk-based capital, To Be Well Capitalized Under Prompt Corrective Action Provisions, percentage | 10.00% | 10.00% |
Tier 1 leverage capital, To Be Well Capitalized Under Prompt Corrective Action Provisions, percentage | 5.00% | 5.00% |
Benefit Plans - Additional Info
Benefit Plans - Additional Information (Detail) | 12 Months Ended | |||
Dec. 31, 2015USD ($)InstallmentEmployees | Dec. 31, 2014USD ($) | Dec. 31, 2013USD ($) | Dec. 31, 2007 | |
Benefit Plans [Line Items] | ||||
Eligibility to participate in ESOP based on service | 6 months | |||
Eligibility age to participate in ESOP | 21 years | |||
Contributions for the plan necessary to amortize the debt to the company, period | 20 years | |||
Compensation cost related to ESOP | $ 795,000 | $ 756,000 | $ 653,000 | |
Fair value of the unearned ESOP shares | 11,828,000 | 11,263,000 | ||
Contribution to salary agreement | 465,000 | |||
Louisiana Bancorp, Inc [Member] | ||||
Benefit Plans [Line Items] | ||||
Contribution to salary agreement | $ 1,200,000 | |||
401(k) Match and Profit Sharing Plan [Member] | ||||
Benefit Plans [Line Items] | ||||
Percent of contributions made by plan participants | 75.00% | |||
Percent of matching contributions made by company | 4.00% | |||
Matching contributions made by company, amount | $ 596,000 | 524,000 | $ 335,000 | |
Salary Continuation Agreements [Member] | ||||
Benefit Plans [Line Items] | ||||
Number of employees covered | Employees | 2 | |||
Period of stated annual benefit | 10 years | |||
Percent of period vested | 50.00% | |||
Period of vested benefits, in the event of early retirement | 120 months | |||
Executive's beneficiary ratio | 2 | |||
Payment period | 15 years | |||
Salary Continuation Agreements [Member] | Chief Executive Officer [Member] | ||||
Benefit Plans [Line Items] | ||||
Age after which employees will be entitled to a stated annual benefit | 62 years | |||
Period for which executive's beneficiary will receive upon death | 5 years | |||
Distribution of fully vested annual benefit in equal installments | Installment | 12 | |||
Annual benefits distribution period | 10 years | |||
Salary Continuation Agreements [Member] | Chief Credit Officer [Member] | ||||
Benefit Plans [Line Items] | ||||
Age after which employees will be entitled to a stated annual benefit | 65 years | |||
Vested period | 10 years | |||
Period for which executive's beneficiary will receive upon death | 120 months | |||
Stated annual benefit for executive | 10 years | |||
Period of separation from service | 24 months | |||
Delay in periods | 6 months | |||
Salary Continuation Agreements [Member] | Chief Executive Officer and Chief Credit Officer [Member] | ||||
Benefit Plans [Line Items] | ||||
Post retirement liability outstanding | $ 2,868,000 | $ 1,537,000 |
Benefit Plans - Summary of Empl
Benefit Plans - Summary of Employee Stock Ownership Plan (Detail) - shares | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Compensation and Retirement Disclosure [Abstract] | ||
Shares allocated, beginning of year | 198,836 | 171,945 |
Shares allocated during the year | 35,708 | 35,708 |
Shares distributed during the year | (15,129) | (8,817) |
Allocated shares held by ESOP trust as of year end | 219,415 | 198,836 |
Unallocated shares | 455,271 | 490,978 |
Total ESOP shares | 674,686 | 689,814 |
Stock-based Payment Arrangeme98
Stock-based Payment Arrangements - Additional Information (Detail) - USD ($) | 12 Months Ended | |||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2009 | |
Stock Options [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Number of shares available for grant | 561,583 | |||
Maximum option term | 10 years | |||
Stock option vesting period | 5 years | |||
Unrecognized compensation cost | $ 288,000 | |||
Unrecognized compensation cost, period for recognition | 3 years 4 months 24 days | |||
Compensation and benefits expense | $ 70,000 | $ 295,000 | $ 681,000 | |
2009 Stock Option Plan [Member] | Stock Options [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Maximum number of shares issuable under the Stock Option Plan | 892,687 | |||
2009 Recognition and Retention Plan [Member] | Restricted Stock [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Maximum number of shares issuable under the Stock Option Plan | 357,075 | |||
Percent of outstanding common to be approved for restricted stock awards under the RRP | 4.00% | |||
2014 Equity Incentive Plan [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Number of shares available for grant | 350,000 | |||
Recognition and Retention Plan [Member] | Restricted Stock [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Unrecognized compensation cost | $ 582,000 | |||
Unrecognized compensation cost, period for recognition | 5 years | |||
Compensation and benefits expense | $ 51,000 | $ 401,000 | $ 793,000 | |
Average cost of shares in open market required to fund the 2009 plan | $ 11.81 | |||
Total cost of shares held by the 2009 plan | $ 158,590 |
Stock-based Payment Arrangeme99
Stock-based Payment Arrangements - Assumptions Made to Estimate Fair Value (Detail) | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Expected dividends | 1.30% |
Expected volatility | 21.62% |
Risk-free interest rate | 1.90% |
Expected term (in years) | 6 years 6 months |
Stock-based Payment Arrangem100
Stock-based Payment Arrangements - Summary of Stock Option Activity (Detail) | 12 Months Ended |
Dec. 31, 2015$ / sharesshares | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Outstanding, Number of Option, Beginning Balance | shares | 793,170 |
Granted, Number of Options | shares | 42,910 |
Exercised, Number of Options | shares | (271,597) |
Forfeited, Number of Options | shares | (3,200) |
Outstanding, Number of Option, Ending Balance | shares | 561,283 |
Exercisable, Number of Options | shares | 492,473 |
Outstanding, Weighted Average Exercise Price, Beginning Balance | $ 11.92 |
Granted, Weighted-Average Exercise Price | 22.35 |
Exercised, Weighted-Average Exercise Price | 11.56 |
Forfeited, Weighted-Average Exercise Price | 14.35 |
Outstanding, Weighted Average Exercise Price, Ending Balance | 12.87 |
Exercisable, Weighted Average Exercise Price | 11.82 |
Outstanding, Weighted-Average Grant Date Fair Value, Beginning Balance | 3.90 |
Granted, Weighted-Average Grant Date Fair Value | 4.80 |
Exercised, Weighted-Average Grant Date Fair Value | 3.78 |
Forfeited, Weighted-Average Grant Date Fair Value | 4.88 |
Outstanding, Weighted-Average Grant Date Fair Value, Ending Balance | 4.02 |
Exercisable, Weighted-Average Grant Date Fair Value | $ 3.87 |
Outstanding, Weighted Average Remaining Contractual Term | 4 years 2 months 12 days |
Exercisable, Weighted Average Remaining Contractual Term | 3 years 7 months 6 days |
Stock-based Payment Arrangem101
Stock-based Payment Arrangements - Unvested Restricted Stock Activity (Detail) - Restricted Stock [Member] | 12 Months Ended |
Dec. 31, 2015$ / sharesshares | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Number of Shares, Beginning Balance | shares | 10,898 |
Granted, Number of Shares | shares | 24,615 |
Forfeited, Number of Shares | shares | (400) |
Released, Number of Shares | shares | (3,700) |
Number of Shares, Ending Balance | shares | 31,413 |
Weighted-Average Grant Date Fair Value, Beginning Balance | $ / shares | $ 16.74 |
Granted, Weighted-Average Grant Date Fair Value | $ / shares | 22.26 |
Forfeited, Weighted-Average Grant Date Fair Value | $ / shares | 14.35 |
Released, Weighted-Average Grant Date Fair Value | $ / shares | 16.10 |
Weighted-Average Grant Date Fair Value, Ending Balance | $ / shares | $ 21.17 |
Earnings Per Share - Earnings P
Earnings Per Share - Earnings Per Common Share (Detail) - USD ($) $ / shares in Units, shares in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Numerator: | |||||||||||
Income applicable to common shares | $ 3,963,000 | $ 2,898,000 | $ 2,841,000 | $ 2,848,000 | $ 2,809,000 | $ 2,876,000 | $ 2,753,000 | $ 1,434,000 | $ 12,549,901 | $ 9,871,587 | $ 7,293,922 |
Denominator: | |||||||||||
Weighted average common shares outstanding | 6,708 | 6,553 | 6,591 | ||||||||
Effect of dilutive securities: | |||||||||||
Weighted average common shares outstanding - assuming dilution | 7,001 | 6,933 | 6,908 | ||||||||
Earnings per common share | $ 0.59 | $ 0.43 | $ 0.42 | $ 0.43 | $ 0.43 | $ 0.44 | $ 0.42 | $ 0.22 | $ 1.87 | $ 1.51 | $ 1.11 |
Earnings per common share - assuming dilution | $ 0.56 | $ 0.41 | $ 0.41 | $ 0.41 | $ 0.40 | $ 0.41 | $ 0.40 | $ 0.21 | $ 1.79 | $ 1.42 | $ 1.06 |
Stock Options [Member] | |||||||||||
Effect of dilutive securities: | |||||||||||
Restricted stock / Stock options | 289 | 355 | 262 | ||||||||
Restricted Stock [Member] | |||||||||||
Effect of dilutive securities: | |||||||||||
Restricted stock / Stock options | 4 | 25 | 55 |
Earnings Per Share - Additional
Earnings Per Share - Additional Information (Detail) - shares | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Earnings Per Share [Abstract] | |||
Number of options and common stock not included in computing diluted earnings per share | 45,877 | 26,500 | 52,633 |
Related Party Transactions - Ad
Related Party Transactions - Additional Information (Detail) | 12 Months Ended | |
Dec. 31, 2015USD ($)SecurityLoan | Dec. 31, 2014USD ($)SecurityLoan | |
Related Party Transaction [Line Items] | ||
Loans outstanding to directors, executive officers and their affiliates | $ 7,590,000 | $ 7,279,000 |
Management [Member] | ||
Related Party Transaction [Line Items] | ||
Maximum limit of percent of shareholders equity related party loans to identified as impaired | 5.00% | 5.00% |
Related party deposits | $ 28,904,000 | $ 8,312,000 |
Number of related party loans not treated as impaired | SecurityLoan | 0 | 0 |
Management [Member] | Directors and Officers Liability Insurance [Member] | ||
Related Party Transaction [Line Items] | ||
Loans outstanding to directors, executive officers and their affiliates | $ 7,590,000 | $ 7,279,000 |
Related Party Transactions - Su
Related Party Transactions - Summary of Related Party Loan Activity (Detail) $ in Thousands | 12 Months Ended |
Dec. 31, 2015USD ($) | |
Related Party Transactions [Abstract] | |
Balance, beginning of year | $ 7,279 |
New loans | 2,365 |
Repayments, net | (2,054) |
Balance, end of year | $ 7,590 |
Fair Value Disclosures - Summar
Fair Value Disclosures - Summary of Assets and Liabilities Measured on Recurring Basis (Detail) - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities | $ 176,762,200 | $ 174,800,516 |
Municipal Bonds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities | 22,933,000 | 24,896,000 |
Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities | 176,762,000 | 174,801,000 |
Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities | 176,762,000 | 174,801,000 |
Fair Value, Measurements, Recurring [Member] | U.S. Agency Mortgage-Backed [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities | 135,478,000 | 121,498,000 |
Fair Value, Measurements, Recurring [Member] | Non-U.S. Agency Mortgage-Backed [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities | 6,065,000 | 7,764,000 |
Fair Value, Measurements, Recurring [Member] | Municipal Bonds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities | 22,933,000 | 24,896,000 |
Fair Value, Measurements, Recurring [Member] | U.S. Government Agency [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities | 12,286,000 | 20,643,000 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities | 176,762,000 | 174,801,000 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | U.S. Agency Mortgage-Backed [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities | 135,478,000 | 121,498,000 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Non-U.S. Agency Mortgage-Backed [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities | 6,065,000 | 7,764,000 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Municipal Bonds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities | 22,933,000 | 24,896,000 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | U.S. Government Agency [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities | $ 12,286,000 | $ 20,643,000 |
Fair Value Disclosures - Sum107
Fair Value Disclosures - Summary of Financial Assets and Liabilities Measured at Fair Value on Nonrecurring Basis (Detail) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Assets | ||
Acquired loans with deteriorated credit quality | $ 19,859 | $ 31,908 |
Impaired loans excluding acquired loans | 813 | 1,843 |
Repossessed assets | 3,128 | 5,214 |
Total | 23,800 | 38,965 |
Level 3 [Member] | ||
Assets | ||
Acquired loans with deteriorated credit quality | 19,859 | 31,908 |
Impaired loans excluding acquired loans | 813 | 1,843 |
Repossessed assets | 3,128 | 5,214 |
Total | $ 23,800 | $ 38,965 |
Fair Value Disclosures - Sum108
Fair Value Disclosures - Summary of Fair Values of Company's Financial Instruments (Detail) - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 |
Financial Assets | ||
Investment securities available for sale | $ 176,762,200 | $ 174,800,516 |
Investment securities held to maturity | 14,120,842 | 11,889,335 |
Financial Liabilities | ||
Short-term FHLB advances | 39,939,375 | 31,000,000 |
Securities sold under repurchase agreements | 20,370,892 | |
Level 1 [Member] | ||
Financial Assets | ||
Cash and cash equivalents | 24,798,000 | 29,078,000 |
Interest-bearing deposits in banks | 5,144,000 | 5,526,000 |
Cash surrender value of BOLI | 19,667,000 | 19,163,000 |
Financial Liabilities | ||
Short-term FHLB advances | 39,939,000 | 31,000,000 |
Level 2 [Member] | ||
Financial Assets | ||
Investment securities available for sale | 176,762,000 | 174,801,000 |
Investment securities held to maturity | 14,121,000 | 11,889,000 |
Mortgage loans held for sale | 5,651,000 | 4,517,000 |
Financial Liabilities | ||
Deposits | 1,243,698,000 | 924,816,000 |
Long-term FHLB advances | 84,711,000 | 16,987,000 |
Level 3 [Member] | ||
Financial Assets | ||
Loans, net | 1,216,370,000 | 908,346,000 |
Financial Liabilities | ||
Deposits | 69,178,000 | |
Securities sold under repurchase agreements | 20,371,000 | |
Carrying Amount [Member] | ||
Financial Assets | ||
Cash and cash equivalents | 24,798,000 | 29,078,000 |
Interest-bearing deposits in banks | 5,144,000 | 5,526,000 |
Investment securities available for sale | 176,762,000 | 174,801,000 |
Investment securities held to maturity | 13,927,000 | 11,705,000 |
Mortgage loans held for sale | 5,651,000 | 4,517,000 |
Loans, net | 1,214,818,000 | 901,208,000 |
Cash surrender value of BOLI | 19,667,000 | 19,163,000 |
Financial Liabilities | ||
Deposits | 1,244,217,000 | 993,573,000 |
Short-term FHLB advances | 39,939,000 | 31,000,000 |
Long-term FHLB advances | 85,213,000 | 16,500,000 |
Securities sold under repurchase agreements | 20,371,000 | |
Fair Value [Member] | ||
Financial Assets | ||
Cash and cash equivalents | 24,798,000 | 29,078,000 |
Interest-bearing deposits in banks | 5,144,000 | 5,526,000 |
Investment securities available for sale | 176,762,000 | 174,801,000 |
Investment securities held to maturity | 14,121,000 | 11,889,000 |
Mortgage loans held for sale | 5,651,000 | 4,517,000 |
Loans, net | 1,216,370,000 | 908,346,000 |
Cash surrender value of BOLI | 19,667,000 | 19,163,000 |
Financial Liabilities | ||
Deposits | 1,243,698,000 | 993,994,000 |
Short-term FHLB advances | 39,939,000 | 31,000,000 |
Long-term FHLB advances | $ 84,711,000 | 16,987,000 |
Securities sold under repurchase agreements | $ 20,371,000 |
Condensed Parent Company Onl109
Condensed Parent Company Only Financial Statements - Condensed Balance Sheets (Detail) - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Assets | ||||
Cash in bank | $ 24,797,599 | $ 29,077,907 | $ 32,638,900 | $ 39,539,366 |
Total Assets | 1,551,911,600 | 1,221,414,610 | ||
Liabilities | 1,386,865,246 | 1,067,270,854 | ||
Shareholders' equity | 165,046,354 | 154,143,756 | 141,909,529 | 141,573,860 |
Total liabilities and shareholders' equity | 1,551,911,600 | 1,221,414,610 | ||
Parent Company [Member] | ||||
Assets | ||||
Cash in bank | 19,512,000 | 2,668,000 | $ 313,000 | $ 2,088,000 |
Investment in subsidiary | 148,172,000 | 150,883,000 | ||
Other assets | 1,333,000 | 708,000 | ||
Total Assets | 169,017,000 | 154,259,000 | ||
Liabilities | 3,971,000 | 115,000 | ||
Shareholders' equity | 165,046,000 | 154,144,000 | ||
Total liabilities and shareholders' equity | $ 169,017,000 | $ 154,259,000 |
Condensed Parent Company Onl110
Condensed Parent Company Only Financial Statements - Condensed Statements of Operations (Detail) - USD ($) | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Operating income | |||||||||||
Interest income | $ 17,092,000 | $ 14,425,000 | $ 13,588,000 | $ 13,305,000 | $ 13,749,000 | $ 14,068,000 | $ 13,940,000 | $ 12,566,000 | $ 58,409,654 | $ 54,322,561 | $ 43,720,509 |
Gain on sale of investment | 7,279 | 1,826 | 428,200 | ||||||||
Operating expenses | |||||||||||
Interest expenses | 1,335,000 | 894,000 | 823,000 | 814,000 | 835,000 | 856,000 | 838,000 | 755,000 | 3,865,393 | 3,283,419 | 3,502,908 |
Income before income tax expense | 5,989,000 | 4,637,000 | 4,282,000 | 4,313,000 | 4,327,000 | 4,513,000 | 4,173,000 | 2,065,000 | 19,220,460 | 15,077,970 | 11,030,060 |
Income tax (benefit) expense | 2,026,000 | 1,739,000 | 1,441,000 | 1,465,000 | 1,518,000 | 1,637,000 | 1,420,000 | 631,000 | 6,670,559 | 5,206,383 | 3,736,138 |
Net Income | $ 3,963,000 | $ 2,898,000 | $ 2,841,000 | $ 2,848,000 | $ 2,809,000 | $ 2,876,000 | $ 2,753,000 | $ 1,434,000 | 12,549,901 | 9,871,587 | 7,293,922 |
Parent Company [Member] | |||||||||||
Operating income | |||||||||||
Interest income | 1,000 | 44,000 | |||||||||
Gain on sale of investment | 241,000 | ||||||||||
Dividend from subsidiary | 72,500,000 | 40,000,000 | |||||||||
Total operating income | 72,500,000 | 40,001,000 | 285,000 | ||||||||
Operating expenses | |||||||||||
Interest expenses | 5,000 | ||||||||||
Other expenses | 142,000 | 147,000 | 155,000 | ||||||||
Total operating expenses | 142,000 | 152,000 | 155,000 | ||||||||
Income before income tax expense | 72,358,000 | 39,849,000 | 130,000 | ||||||||
Income tax (benefit) expense | (57,000) | (61,000) | 52,000 | ||||||||
Income before equity in undistributed earnings of subsidiary | 72,415,000 | 39,910,000 | 78,000 | ||||||||
(Dividends received in excess of earnings of subsidiary) Undistributed earnings of subsidiary | (59,865,000) | (30,038,000) | 7,216,000 | ||||||||
Net Income | $ 12,550,000 | $ 9,872,000 | $ 7,294,000 |
Condensed Parent Company Onl111
Condensed Parent Company Only Financial Statements - Condensed Statements of Cash Flows (Detail) - USD ($) | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Cash Flows from Operating Activities | |||||||||||
Net income | $ 3,963,000 | $ 2,898,000 | $ 2,841,000 | $ 2,848,000 | $ 2,809,000 | $ 2,876,000 | $ 2,753,000 | $ 1,434,000 | $ 12,549,901 | $ 9,871,587 | $ 7,293,922 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
Net amortization of premium/discount on investments | 1,530,144 | 1,327,352 | 1,085,587 | ||||||||
Gain on sale of investment securities | (7,279) | (1,826) | (428,200) | ||||||||
Non-cash compensation | 1,119,769 | 1,451,883 | 2,126,817 | ||||||||
Increase (decrease) in accrued expenses and other liabilities | 4,982,769 | (4,458,388) | 403,640 | ||||||||
Net cash provided by operating activities | 36,165,388 | 27,900,195 | 21,275,396 | ||||||||
Cash Flows from Investing Activities | |||||||||||
Proceeds from prepayment on available for sale securities | 30,094,652 | 29,337,106 | 29,285,461 | ||||||||
Proceeds from sale of available for sale securities | 21,194,622 | 66,905,382 | 7,704,863 | ||||||||
Net cash paid in acquisitions | (56,404,340) | (22,995,649) | |||||||||
Net cash used in investing activities | (61,933,183) | (1,796,956) | (42,873,300) | ||||||||
Cash Flows from Financing Activities | |||||||||||
Proceeds from exercise of stock options | 3,282,197 | 581,088 | 91,105 | ||||||||
Purchase of Company's common stock | (3,465,959) | (561,493) | (6,291,444) | ||||||||
Net cash provided (used in) by financing activities | 21,487,487 | (29,664,232) | 14,697,438 | ||||||||
Net Increase (Decrease) in Cash and Cash Equivalents | (4,280,308) | (3,560,993) | (6,900,466) | ||||||||
Cash and cash equivalents at beginning of year | 29,077,907 | 32,638,900 | 29,077,907 | 32,638,900 | 39,539,366 | ||||||
Cash and cash equivalents at end of year | 24,797,599 | 29,077,907 | 24,797,599 | 29,077,907 | 32,638,900 | ||||||
Parent Company [Member] | |||||||||||
Cash Flows from Operating Activities | |||||||||||
Net income | 12,550,000 | 9,872,000 | 7,294,000 | ||||||||
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
Net amortization of premium/discount on investments | (3,000) | ||||||||||
Gain on sale of investment securities | (241,000) | ||||||||||
Non-cash compensation | 999,000 | 805,000 | 652,000 | ||||||||
Increase in accrued interest and other assets | (624,000) | (58,000) | (21,000) | ||||||||
Dividends received in excess of earnings from subsidiary (undistributed earnings in subsidiary) | 59,865,000 | 30,038,000 | (7,216,000) | ||||||||
Increase (decrease) in accrued expenses and other liabilities | 3,855,000 | (226,000) | (189,000) | ||||||||
Net cash provided by operating activities | 76,645,000 | 40,431,000 | 276,000 | ||||||||
Cash Flows from Investing Activities | |||||||||||
Proceeds from prepayment on available for sale securities | 312,000 | ||||||||||
Proceeds from sale of available for sale securities | 3,837,000 | ||||||||||
Net cash paid in acquisitions | (57,455,000) | (37,597,000) | |||||||||
Net cash used in investing activities | (57,455,000) | (37,597,000) | 4,149,000 | ||||||||
Cash Flows from Financing Activities | |||||||||||
Proceeds from exercise of stock options | 3,282,000 | 581,000 | 91,000 | ||||||||
Payment of dividends on common stock | (2,162,000) | (499,000) | |||||||||
Purchase of Company's common stock | (3,466,000) | (561,000) | (6,291,000) | ||||||||
Net cash provided (used in) by financing activities | (2,346,000) | (479,000) | (6,200,000) | ||||||||
Net Increase (Decrease) in Cash and Cash Equivalents | 16,844,000 | 2,355,000 | (1,775,000) | ||||||||
Cash and cash equivalents at beginning of year | $ 2,668,000 | $ 313,000 | 2,668,000 | 313,000 | 2,088,000 | ||||||
Cash and cash equivalents at end of year | $ 19,512,000 | $ 2,668,000 | $ 19,512,000 | $ 2,668,000 | $ 313,000 |
Consolidated Quarterly Resul112
Consolidated Quarterly Results of Operations (unaudited) - Summary of Consolidated Quarterly Results of Operations (Detail) - USD ($) | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Quarterly Financial Data [Abstract] | |||||||||||
Total interest income | $ 17,092,000 | $ 14,425,000 | $ 13,588,000 | $ 13,305,000 | $ 13,749,000 | $ 14,068,000 | $ 13,940,000 | $ 12,566,000 | $ 58,409,654 | $ 54,322,561 | $ 43,720,509 |
Total interest expense | 1,335,000 | 894,000 | 823,000 | 814,000 | 835,000 | 856,000 | 838,000 | 755,000 | 3,865,393 | 3,283,419 | 3,502,908 |
Net interest income | 15,757,000 | 13,531,000 | 12,765,000 | 12,491,000 | 12,914,000 | 13,212,000 | 13,102,000 | 11,811,000 | 54,544,261 | 51,039,142 | 40,217,601 |
Provision for loan losses | 670,000 | 569,000 | 294,000 | 538,000 | 516,000 | 892,000 | 811,000 | 145,000 | 2,070,894 | 2,364,358 | 3,652,694 |
Net interest income after provision for loan losses | 15,087,000 | 12,962,000 | 12,471,000 | 11,953,000 | 12,398,000 | 12,320,000 | 12,291,000 | 11,666,000 | 52,473,367 | 48,674,784 | 36,564,907 |
Noninterest income | 2,455,000 | 2,197,000 | 2,039,000 | 2,079,000 | 2,106,000 | 2,161,000 | 2,252,000 | 1,656,000 | 8,769,519 | 8,174,778 | 7,669,849 |
Noninterest expense | 11,553,000 | 10,522,000 | 10,228,000 | 9,719,000 | 10,177,000 | 9,968,000 | 10,370,000 | 11,257,000 | 42,022,426 | 41,771,592 | 33,204,696 |
Income before income taxes | 5,989,000 | 4,637,000 | 4,282,000 | 4,313,000 | 4,327,000 | 4,513,000 | 4,173,000 | 2,065,000 | 19,220,460 | 15,077,970 | 11,030,060 |
Income tax expense | 2,026,000 | 1,739,000 | 1,441,000 | 1,465,000 | 1,518,000 | 1,637,000 | 1,420,000 | 631,000 | 6,670,559 | 5,206,383 | 3,736,138 |
Net income | $ 3,963,000 | $ 2,898,000 | $ 2,841,000 | $ 2,848,000 | $ 2,809,000 | $ 2,876,000 | $ 2,753,000 | $ 1,434,000 | $ 12,549,901 | $ 9,871,587 | $ 7,293,922 |
Earnings per share - basic | $ 0.59 | $ 0.43 | $ 0.42 | $ 0.43 | $ 0.43 | $ 0.44 | $ 0.42 | $ 0.22 | $ 1.87 | $ 1.51 | $ 1.11 |
Earnings per share - diluted | $ 0.56 | $ 0.41 | $ 0.41 | $ 0.41 | $ 0.40 | $ 0.41 | $ 0.40 | $ 0.21 | $ 1.79 | $ 1.42 | $ 1.06 |