Document_And_Entity_Informatio
Document And Entity Information | 9 Months Ended | |
Sep. 30, 2014 | Nov. 07, 2014 | |
Document Information [Line Items] | ' | ' |
Entity Registrant Name | 'Alliance Bancorp, Inc. of Pennsylvania | ' |
Entity Central Index Key | '0001500711 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Smaller Reporting Company | ' |
Trading Symbol | 'ALLB | ' |
Entity Common Stock, Shares Outstanding | ' | 4,027,159 |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 30-Sep-14 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Document Fiscal Year Focus | '2014 | ' |
Consolidated_Statements_of_Fin
Consolidated Statements of Financial Condition (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Assets | ' | ' |
Cash and cash due from depository institutions | $1,197 | $1,530 |
Interest bearing deposits with depository institutions | 43,899 | 43,694 |
Total cash and cash equivalents | 45,096 | 45,224 |
Investment securities available for sale | 19,907 | 21,321 |
Mortgage-backed securities available for sale | 3,456 | 4,699 |
Investment securities held to maturity (fair value - 2014, $27,850; 2013, $28,402) | 27,158 | 28,358 |
Loans receivable - net of allowance for loan losses - 2014, $4,401; 2013, $4,243 | 301,974 | 298,877 |
Accrued interest receivable | 1,470 | 1,465 |
Premises and equipment - net | 2,024 | 2,036 |
Other real estate owned (OREO) | 2,328 | 3,191 |
Federal Home Loan Bank (FHLB) stock-at cost | 709 | 647 |
Bank owned life insurance | 12,663 | 12,451 |
Deferred tax asset - net | 5,686 | 5,674 |
Prepaid expenses and other assets | 1,001 | 1,559 |
Total Assets | 423,472 | 425,502 |
Liabilities | ' | ' |
Non-interest bearing deposits | 17,193 | 16,409 |
Interest bearing deposits | 331,515 | 328,969 |
Total deposits | 348,708 | 345,378 |
Other borrowings | 2,526 | 3,437 |
Accrued expenses and other liabilities | 6,588 | 6,518 |
Total Liabilities | 357,822 | 355,333 |
Commitments and Contingencies | ' | ' |
Stockholders' Equity | ' | ' |
Common stock, $.01 par value; shares authorized - 50,000,000; shares issued - 5,474,437; shares outstanding - 2014, 4,027,159; 2013, 4,467,304 | 55 | 55 |
Additional paid-in capital | 56,755 | 56,585 |
Retained earnings | 33,940 | 32,673 |
Common stock acquired by benefit plans | -2,413 | -2,957 |
Accumulated other comprehensive loss | -1,539 | -1,875 |
Treasury stock, at cost: 2014, 1,447,278 shares; 2013, 1,007,133 shares | -21,148 | -14,312 |
Total Stockholders' Equity | 65,650 | 70,169 |
Total Liabilities and Stockholders' Equity | $423,472 | $425,502 |
Consolidated_Statements_of_Fin1
Consolidated Statements of Financial Condition [Parenthetical] (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, except Share data, unless otherwise specified | ||
Fair value, investment securities held to maturity (in dollars) | $27,850 | $28,402 |
Loans and Leases Receivable, Allowance (in dollars) | $4,401 | $4,243 |
Common stock, par value (in dollars per share) | $0.01 | $0.01 |
Common stock, shares authorized | 50,000,000 | 50,000,000 |
Common stock, shares issued | 5,474,437 | 5,474,437 |
Common stock, shares outstanding | 4,027,159 | 4,467,304 |
Treasury stock, shares | 1,447,278 | 1,007,133 |
Consolidated_Statements_of_Inc
Consolidated Statements of Income (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Interest and Dividend Income | ' | ' | ' | ' |
Loans, including fees | $3,922 | $3,837 | $11,659 | $11,367 |
Mortgage-backed securities | 32 | 53 | 108 | 182 |
Investment securities: | ' | ' | ' | ' |
Taxable | 65 | 40 | 211 | 91 |
Tax - exempt | 193 | 205 | 595 | 620 |
Dividends | 7 | 2 | 17 | 4 |
Balances due from depository institutions | 28 | 46 | 76 | 165 |
Total interest and dividend income | 4,247 | 4,183 | 12,666 | 12,429 |
Interest Expense | ' | ' | ' | ' |
Deposits | 575 | 604 | 1,683 | 1,890 |
Other borrowings | 1 | 1 | 4 | 4 |
Total interest expense | 576 | 605 | 1,687 | 1,894 |
Net Interest Income | 3,671 | 3,578 | 10,979 | 10,535 |
Provision for Loan Losses | 100 | 150 | 350 | 450 |
Net Interest Income After Provision for Loan Losses | 3,571 | 3,428 | 10,629 | 10,085 |
Other Income | ' | ' | ' | ' |
Service charges on deposit accounts | 71 | 63 | 201 | 190 |
Other fee income | 63 | 44 | 153 | 144 |
Gain on sale of premises and equipment | 0 | 0 | 11 | 0 |
(Loss) gain on sale of OREO, net | 0 | -1 | 4 | -2 |
Rental income from OREO | 0 | 0 | 28 | 0 |
Increase in cash surrender value of bank owned life insurance | 68 | 73 | 212 | 224 |
Other | 0 | 0 | 2 | 0 |
Total other income | 202 | 179 | 611 | 556 |
Other Expenses | ' | ' | ' | ' |
Salaries and employee benefits | 1,624 | 1,711 | 5,040 | 5,195 |
Occupancy and equipment | 430 | 471 | 1,322 | 1,401 |
FDIC deposit insurance premiums | 61 | 78 | 209 | 230 |
Advertising and marketing | 81 | 116 | 244 | 319 |
Professional fees | 133 | 186 | 410 | 579 |
Loan and OREO expense | 104 | 29 | 171 | 83 |
Provision for OREO | 0 | 0 | 117 | 106 |
Directors' fees | 57 | 57 | 170 | 172 |
Other | 308 | 266 | 885 | 843 |
Total other expenses | 2,798 | 2,914 | 8,568 | 8,928 |
Income Before Income Tax Expense | 975 | 693 | 2,672 | 1,713 |
Income Tax Expense | 281 | 160 | 737 | 326 |
Net Income | $694 | $533 | $1,935 | $1,387 |
Basic Earnings per Share (in dollars per share) | $0.18 | $0.11 | $0.48 | $0.28 |
Diluted Earnings per Share (in dollars per share) | $0.18 | $0.11 | $0.47 | $0.28 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Net Income | $694 | $533 | $1,935 | $1,387 |
Other Comprehensive Income (Loss) | ' | ' | ' | ' |
Unrealized gain (loss) on available for sale securities net of tax (benefit) expense 2014, $(5) and $172; 2013, $(39) and $(224) | -7 | -76 | 336 | -435 |
Total Other Comprehensive Income (Loss) | -7 | -76 | 336 | -435 |
Total Comprehensive Income | $687 | $457 | $2,271 | $952 |
Consolidated_Statements_of_Com1
Consolidated Statements of Comprehensive Income [Parenthetical] (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Tax (expense) benefit of unrealized holding gain (loss) on securities | ($5) | ($39) | $172 | ($224) |
Consolidated_Statements_of_Cha
Consolidated Statements of Changes in Stockholders' Equity (USD $) | Total | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Common Stock Acquired by Benefit Plans [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Treasury Stock [Member] |
In Thousands | |||||||
Balance at Dec. 31, 2012 | $80,002 | $55 | $56,343 | $32,273 | ($3,562) | ($1,675) | ($3,432) |
ESOP shares committed to be released | 115 | ' | ' | ' | 115 | ' | ' |
Net income | 1,387 | ' | ' | 1,387 | ' | ' | ' |
Dividends declared | -764 | ' | ' | -764 | ' | ' | ' |
Stock-based compensation (stock options) | 124 | ' | 124 | ' | ' | ' | ' |
Stock-based compensation (restricted stock) | 336 | ' | ' | ' | 336 | ' | ' |
Acquisition of treasury stock | -4,130 | ' | ' | ' | ' | ' | -4,130 |
Other comprehensive income\loss | -435 | ' | ' | ' | ' | -435 | ' |
Balance at Sep. 30, 2013 | 76,635 | 55 | 56,467 | 32,896 | -3,111 | -2,110 | -7,562 |
Balance at Dec. 31, 2013 | 70,169 | 55 | 56,585 | 32,673 | -2,957 | -1,875 | -14,312 |
ESOP shares committed to be released | 115 | ' | ' | ' | 115 | ' | ' |
Net income | 1,935 | ' | ' | 1,935 | ' | ' | ' |
Dividends declared | -668 | ' | ' | -668 | ' | ' | ' |
Stock-based compensation (stock options) | 170 | ' | 170 | ' | ' | ' | ' |
Stock-based compensation (restricted stock) | 429 | ' | ' | ' | 429 | ' | ' |
Acquisition of treasury stock | -6,836 | ' | ' | ' | ' | ' | -6,836 |
Other comprehensive income\loss | 336 | ' | ' | ' | ' | 336 | ' |
Balance at Sep. 30, 2014 | $65,650 | $55 | $56,755 | $33,940 | ($2,413) | ($1,539) | ($21,148) |
Consolidated_Statements_of_Cha1
Consolidated Statements of Changes in Stockholders' Equity [Parenthetical] (USD $) | 9 Months Ended | |
Sep. 30, 2014 | Sep. 30, 2013 | |
Common stock dividends declared, per share (in dollars per share) | $0.16 | $0.15 |
Treasury stock shares acquired (in shares) | 440,145 | 284,730 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
Cash Flow From Operating Activities | ' | ' |
Net income | $1,935 | $1,387 |
Adjustments to reconcile net income to cash provided by operating activities: | ' | ' |
Loan losses | 350 | 450 |
Depreciation and amortization | 354 | 437 |
Write-down of OREO | 117 | 106 |
Stock-based compensation expense | 714 | 575 |
Gain on sale of premises and equipment | -11 | 0 |
(Gain) loss on the sale of OREO | -4 | 2 |
Deferred tax benefit | -184 | -17 |
Increase in cash surrender value of bank owned life insurance | -212 | -224 |
Changes in assets and liabilities which provided (used) cash: | ' | ' |
Accrued expenses and other liabilities | 70 | 142 |
Prepaid expenses and other assets | 558 | 740 |
Accrued interest receivable | -5 | -44 |
Net cash provided by operating activities | 3,682 | 3,554 |
Cash Flow From Investing Activities | ' | ' |
Purchase of investment securities-available for sale | -9,000 | -25,000 |
Purchase of investment securities-held to maturity | -530 | -4,275 |
Loans originated | -38,633 | -54,742 |
Proceeds from maturities and calls of investment securities | 12,730 | 9,838 |
(Purchase) redemption of FHLB stock | -62 | 691 |
Principal repayments of: | ' | ' |
Loans | 34,943 | 44,360 |
Mortgage-backed securities | 1,165 | 2,110 |
Purchase of premises and equipment | -352 | -188 |
Proceeds from the sale of premises and equipment | 21 | 0 |
Proceeds from the sale of OREO | 993 | 890 |
Net cash provided by (used in) investing activities | 1,275 | -26,316 |
Cash Flow From Financing Activities | ' | ' |
Dividends paid | -668 | -764 |
Increase (decrease) in deposits | 3,330 | -21,922 |
Purchase of treasury stock | -6,836 | -4,130 |
(Decrease) increase in other borrowings | -911 | 275 |
Net cash used in financing activities | -5,085 | -26,541 |
Decrease in Cash and Cash Equivalents | -128 | -49,303 |
Cash and Cash Equivalents, Beginning of Year | 45,224 | 112,305 |
Cash and Cash Equivalents, End of Year | 45,096 | 63,002 |
Supplemental Disclosures of Cash Flow Information- | ' | ' |
Interest | 1,687 | 1,895 |
Income taxes | 400 | 0 |
Supplemental Schedule of Noncash Financing and Investing Activities: | ' | ' |
Other real estate acquired in settlement of loans | $243 | $1,929 |
Organization_and_Basis_of_Pres
Organization and Basis of Presentation | 9 Months Ended |
Sep. 30, 2014 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' |
Organizational Structure and Nature Of Operations Disclosure [Text Block] | ' |
(1) Organization and Basis of Presentation | |
On January 18, 2011, Alliance Mutual Holding Company and Alliance Bancorp, Inc. of Pennsylvania, the federally chartered mid-tier holding company for Alliance Bank (the “Bank”) completed a reorganization and conversion (the “second step conversion”), pursuant to which Alliance Bancorp, Inc. of Pennsylvania, a new Pennsylvania corporation (“Alliance Bancorp” or the “Company”), acquired all the issued and outstanding shares of the Bank’s common stock. In connection with the second step conversion, 3,258,475 shares of common stock, par value $0.01 per share, of Alliance Bancorp were sold in subscription, community and syndicated community offerings to certain depositors of the Bank and other investors for $10 per share, or $32.6 million in the aggregate (the “Offering”), and 2,215,962 shares of common stock were issued in exchange for the outstanding shares of common stock of the mid-tier holding company, which also was known as Alliance Bancorp, Inc. of Pennsylvania, held by the “public” shareholders of the mid-tier holding company. Each share of common stock of the mid-tier holding company was converted into the right to receive 0.8200 shares of common stock of Alliance Bancorp in the second step conversion. As a result of the second step conversion, the former mutual holding company and the mid-tier company were merged into Alliance Bancorp and 548,524 (pre-conversion) treasury shares were canceled. Additionally, the Bank’s Employee Stock Ownership Plan (“ESOP”) was issued a line of credit for up to $1.9 million, which it used to purchase 50,991 shares of common stock in the Offering and 100,000 additional shares of common stock in the open market following the Offering. | |
The Bank is a community oriented savings bank headquartered in Broomall, Pennsylvania. The Bank operates a total of eight banking offices located in Delaware and Chester Counties, which are suburbs of Philadelphia. The Bank is primarily engaged in attracting deposits from the general public through its branch offices and using such deposits primarily to (i) originate and purchase loans secured by first liens on single-family (one-to-four units) residential and commercial real estate properties and (ii) invest in securities issued by the U.S. Government and agencies thereof, municipal and corporate debt securities and certain mutual funds. The Bank derives its income principally from interest earned on loans, mortgage-backed securities and investments and, to a lesser extent, from fees received in connection with the origination of loans and for other services. The Bank's primary expenses are interest expense on deposits and borrowings and general operating expenses. | |
The Bank is subject to regulation by the Pennsylvania Department of Banking and Securities (the "Department"), as its chartering authority and primary regulator, and by the Federal Deposit Insurance Corporation (the "FDIC"), which insures the Bank's deposits up to applicable limits. As a registered savings and loan holding company, the Company is supervised by the Board of Governors of the Federal Reserve System (“FRB”). | |
Basis of Presentation. The accompanying unaudited consolidated financial statements were prepared in accordance with instructions for Form 10-Q and, therefore, do not include all information or footnotes necessary for a complete presentation of financial position, results of operations, and cash flows in conformity with accounting principles generally accepted in the United States of America (US GAAP). The consolidated statement of financial condition at December 31, 2013, has been derived from audited consolidated financial statements but does not include all information and notes required by US GAAP for complete financial statements. In the opinion of management, all adjustments consisting of normal recurring adjustments or accruals, which are necessary for a fair presentation of the consolidated financial statements, have been included. The results of operations for the three and nine months ended September 30, 2014 are not necessarily indicative of the results which may be expected for the year ending December 31, 2014 or any other period. All significant intercompany accounts and transactions have been eliminated. For comparative purposes, prior periods’ consolidated financial statements have been reclassified when necessary to conform to report classifications of the current year. The reclassifications had no effect on net income. The unaudited consolidated financial statements presented herein should be read in conjunction with the audited consolidated financial statements and related notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013. | |
Subsequent Events. The Company has evaluated events and transactions occurring subsequent to September 30, 2014, for items that should potentially be recognized or disclosed in these consolidated financial statements. The evaluation was conducted through the date these consolidated financial statements were issued. | |
Recent_Accounting_Pronouncemen
Recent Accounting Pronouncements | 9 Months Ended |
Sep. 30, 2014 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | ' |
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | ' |
(2) Recent Accounting Pronouncements | |
In January 2014, the FASB issued ASU No. 2014-04, "Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure." The objective of this guidance is to clarify when an in substance repossession or foreclosure occurs, that is, when a creditor should be considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan such that the loan receivable should be derecognized and the real estate property recognized. ASU No. 2014-04 states that an in substance repossession or foreclosure occurs, and a creditor is considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan, upon either (1) the creditor obtaining legal title to the residential real estate property upon completion of a foreclosure or (2) the borrower conveying all interest in the residential real estate property to the creditor to satisfy that loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. Additionally, ASU No. 2014-04 requires interim and annual disclosure of both (1) the amount of foreclosed residential real estate property held by the creditor and (2) the recorded investment in consumer mortgage loans collateralized by residential real estate property that are in the process of foreclosure according to local requirements of the applicable jurisdiction. ASU No. 2014-04 is effective for interim and annual reporting periods beginning after December 15, 2014. The adoption of ASU No. 2014-04 is not expected to have a material impact on the Company's Consolidated Financial Statements. | |
In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 660): Summary and Amendments that Create Revenue from Contracts with Customers (Topic 606) and Other Assets and Deferred Costs—Contracts with Customers (Subtopic 340-40). The guidance in this update supersedes the revenue recognition requirements in ASC Topic 605, Revenue Recognition, and most industry-specific guidance throughout the industry topics of the codification. For public companies, this update will be effective for interim and annual periods beginning after December 15, 2016. The Company is currently assessing the impact that this guidance will have on its consolidated financial statements, but does not expect the guidance to have a material impact on the Company's consolidated financial statements. | |
Segment_Information
Segment Information | 9 Months Ended |
Sep. 30, 2014 | |
Segment Reporting [Abstract] | ' |
Segment Reporting Disclosure [Text Block] | ' |
(3) Segment Information | |
The Company has one reportable segment, Community Banking. All of the Company’s activities are interrelated, and each activity is dependent and assessed based on how each of the activities of the Company supports the others. For example, lending is dependent upon the ability of the Company to fund itself with deposits and other borrowings and manage interest rate and credit risk. | |
Earnings_Per_Share
Earnings Per Share | 9 Months Ended | |||||||||||||
Sep. 30, 2014 | ||||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||||
Earnings Per Share [Text Block] | ' | |||||||||||||
(4) Earnings Per Share | ||||||||||||||
Earnings per share (“EPS”) consist of two separate components, basic EPS and diluted EPS. Basic EPS is computed based on the weighted average number of shares of common stock outstanding for each period presented. Diluted EPS is calculated based on the weighted average number of shares of common stock outstanding plus dilutive common stock equivalents (“CSEs”) using the treasury stock method. CSEs consist of shares that are assumed to have been purchased with the proceeds from the exercise of stock options, as well as unvested common stock awards. CSEs for which the grant price exceeds the average market price over the period have an anti-dilutive effect on EPS, and, accordingly, are excluded from the calculation. There were 38,500 and 9,500 anti-dilutive stock options outstanding at September 30, 2014 and September 30, 2013, respectively. | ||||||||||||||
The following table sets forth the composition of the weighted average shares (denominator) used in the basic and diluted earnings per share computations. | ||||||||||||||
For the Three Months | For the Nine Months | |||||||||||||
Ended September 30, | Ended September 30, | |||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||
Net Income | $ | 694,000 | $ | 533,000 | $ | 1,935,000 | $ | 1,387,000 | ||||||
Weighted average shares outstanding | 4,031,900 | 4,995,496 | 4,167,629 | 5,112,008 | ||||||||||
Adjusted average unearned ESOP shares | -139,951 | -153,893 | -143,437 | -157,378 | ||||||||||
Weighted average shares outstanding – basic | 3,891,949 | 4,841,603 | 4,024,192 | 4,954,630 | ||||||||||
Effect of diluted common stock equivalents | 69,267 | 33,438 | 60,243 | 16,070 | ||||||||||
Adjusted weighted average shares outstanding-diluted | 3,961,216 | 4,875,041 | 4,084,435 | 4,970,700 | ||||||||||
Basic earnings per share | $ | 0.18 | $ | 0.11 | $ | 0.48 | $ | 0.28 | ||||||
Diluted earnings per share | $ | 0.18 | $ | 0.11 | $ | 0.47 | $ | 0.28 | ||||||
Employee_Stock_Ownership_Plan
Employee Stock Ownership Plan | 9 Months Ended | |||||
Sep. 30, 2014 | ||||||
Employee Stock Ownership Plan [Abstract] | ' | |||||
Employee Stock Ownership Plan [Text Block] | ' | |||||
(5) Employee Stock Ownership Plan | ||||||
The Bank has an Employee Stock Ownership Plan (“ESOP”) for the benefit of employees who meet the eligibility requirements as defined in the ESOP. The ESOP purchased 74,073 shares of common stock in the offering completed on January 30, 2007, using proceeds of a loan from the former mid-tier holding company. The Bank makes quarterly payments of principal and interest over a term of 8 years at an interest rate of 8.25% to the Company. The ESOP has a second loan from the Company to fund the purchase of 150,991 additional shares in connection with the second step conversion completed on January 18, 2011, under which the Bank makes quarterly payments of principal and interest over a term of 20 years at an interest rate of 3.25% to the Company. The loans are secured by the shares of the stock purchased. | ||||||
As the debt is repaid, shares are released from collateral and allocated to qualified employees. As shares are released from collateral, the Company reports compensation expense equal to the current market price of the shares, and the shares become outstanding for earnings per share computations. The compensation expense for the ESOP for the three months ended September 30, 2014 and September 30, 2013 was $38,000 and $38,000, respectively. The compensation expense for the ESOP for the nine months ended September 30, 2014 and September 30, 2013 was $115,000 and $115,000, respectively. | ||||||
The following table presents the components of the ESOP shares inclusive of shares purchased prior to 2007: | ||||||
September 30, 2014 | September 30, 2013 | |||||
Shares released for allocation | 207,770 | 169,370 | ||||
Unearned shares | 113,761 | 152,161 | ||||
Total ESOP shares | 321,531 | 321,531 | ||||
Retirement_Plans
Retirement Plans | 9 Months Ended | |||||||||||||
Sep. 30, 2014 | ||||||||||||||
Compensation and Retirement Disclosure [Abstract] | ' | |||||||||||||
Pension and Other Postretirement Benefits Disclosure [Text Block] | ' | |||||||||||||
(6) Retirement Plans | ||||||||||||||
The Bank has a defined benefit pension plan which covers all full-time employees meeting certain eligibility requirements. As required under FASB ASC Topic 715, Compensation – Retirement Benefits, the net pension costs included the following components: | ||||||||||||||
For the Three Months | For the Nine Months | |||||||||||||
Ended September 30, | Ended September 30, | |||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||
Net Periodic Benefit Cost | ||||||||||||||
Service Cost | $ | 72,529 | $ | 72,065 | $ | 217,587 | $ | 216,195 | ||||||
Interest Cost | 80,421 | 59,165 | 241,263 | 177,495 | ||||||||||
Expected Return on Plan Assets | -143,702 | -85,962 | -431,106 | -296,886 | ||||||||||
Amortization of Prior Service Cost | 3,171 | 3,171 | 9,513 | 9,513 | ||||||||||
Amortization of Loss | 27,397 | 34,811 | 82,191 | 104,433 | ||||||||||
Net Periodic Benefit Cost | $ | 39,816 | $ | 83,250 | $ | 119,448 | $ | 210,750 | ||||||
The Bank has a Nonqualified Retirement and Death Benefit Agreement (the “Agreement”) with certain officers of the Bank. The purpose of the Agreement is to provide the officers with supplemental retirement benefits and a pre-retirement death benefit if the officer does not attain the specific age requirement. A summary of the interim information required under FASB ASC Topic 715, Compensation – Retirement Benefits, for the Agreement is as follows: | ||||||||||||||
For the Three Months | For the Nine Months | |||||||||||||
Ended September 30, | Ended September 30, | |||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||
Net Periodic Benefit Cost | ||||||||||||||
Service Cost | $ | — | $ | 13,705 | $ | — | $ | 41,115 | ||||||
Interest Cost | 50,287 | 49,611 | 150,861 | 148,833 | ||||||||||
Amortization of Loss | 6,263 | 8,684 | 18,789 | 26,052 | ||||||||||
Net Periodic Benefit Cost | $ | 56,550 | $ | 72,000 | $ | 169,650 | $ | 216,000 | ||||||
Fair_Value_Accounting
Fair Value Accounting | 9 Months Ended | |||||||||||||
Sep. 30, 2014 | ||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||
Fair Value Disclosures [Text Block] | ' | |||||||||||||
(7) Fair Value Accounting | ||||||||||||||
FASB ASC Topic 820, Fair Value Measurement, establishes a fair value hierarchy that prioritizes the inputs to validation methods used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of fair value hierarchy under FASB ASC Topic 820 are as follows: | ||||||||||||||
Level 1: Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. | ||||||||||||||
Level 2: Quoted prices in markets that are not active, or inputs that are observable either directly or indirectly, for substantially the full term of the asset or liability. | ||||||||||||||
Level 3: Prices or valuation techniques that require inputs that are both significant to fair value measurement and unobservable (i.e. support with little or no market value activity). | ||||||||||||||
An asset or liability’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. | ||||||||||||||
The following methods and assumptions were used to estimate the fair value of certain Company assets and liabilities. | ||||||||||||||
Cash and Cash Equivalents (Carried at Cost). The carrying amounts reported in the consolidated statements of financial condition for cash and short-term instruments approximate those assets’ fair values. | ||||||||||||||
Investment and Mortgage-Backed Securities. The fair value of securities available for sale (carried at fair value) and held to maturity (carried at amortized cost) are determined by obtaining quoted market prices for identical securities on nationally recognized securities exchanges (Level 1), or matrix pricing (Level 2), which is a mathematical technique used widely in the industry to value debt securities without relying exclusively on quoted market prices for the specific securities but rather by relying on the securities’ relationship to other benchmark quoted prices. | ||||||||||||||
Loans Receivable (Carried at Cost). The fair values of loans are estimated using discounted cash flow analyses, using market rates at the balance sheet date that reflect the credit and interest rate-risk inherent in the loans (Level 3). Projected future cash flows are calculated based upon contractual maturity or call dates, projected repayments and prepayments of principal. Generally, for variable rate loans that reprice frequently and with no significant change in credit risk, fair values are based on carrying values. | ||||||||||||||
Impaired Loans (Generally Carried at Fair Value). Impaired loans are those in which the Bank has measured impairment generally based on the fair value of the loan’s collateral. Fair value is generally determined based upon independent third-party appraisals of the properties, or discounted cash flows based upon the expected proceeds. Appraised values may be discounted based upon management’s historical knowledge and changes in the market conditions from the time of the appraisal. Because of the high degree of judgment required in estimating the fair value of collateral underlying impaired loans, and because of the relationship between fair value and general economic conditions, the Company considers fair values of impaired loans to be highly sensitive to market conditions. These assets are included as Level 3 fair values, based upon the lowest level of input that is significant to the fair value measurements. The fair value consists of the loan balances, net of any valuation allowance. At September 30, 2014 and December 31, 2013, the fair value consists of loan balances of $4.1 million and $5.3 million, respectively, net of valuation allowances of $438,000 and $544,000, respectively, and loan balances of $-0- and $728,000, respectively, net of partial charge-offs of $-0- and $428,000, respectively. | ||||||||||||||
Other Real Estate Owned (“OREO”). OREO assets are originally recorded at fair value upon transfer of the loans to OREO, net of estimated cost to dispose of the assets. Subsequently, OREO assets are carried at the lower of carrying value or fair value. The fair value of OREO is based on independent appraisals less selling costs. Appraised values may be discounted based upon management’s historical knowledge and changes in the market conditions from the time of the appraisal. Because of the high degree of judgment required in estimating the fair value of OREO and because of the relationship between fair value and general economic conditions, the Company considers fair values of OREO to be highly sensitive to market conditions. These assets are included as Level 3 fair values, based upon the lowest level of input that is significant to the fair value measurements. At September 30, 2014 and December 31, 2013 the fair value consists of OREO balances of $2.2 million and $1.1 million, respectively, net of valuation allowances of $248,000 and $155,000, respectively. These amounts differ from the balances disclosed on the Statement of Financial Condition due to certain OREO assets being carried at carrying value, as they have not required additional write-downs subsequent to transfer. | ||||||||||||||
FHLB Stock (Carried at Cost). The carrying amount of FHLB stock approximates fair value and considers the limited marketability of such securities. | ||||||||||||||
Accrued Interest Receivable and Payable (Carried at Cost). The carrying amount of accrued interest receivable and accrued interest payable approximates their fair values. | ||||||||||||||
Deposits (Carried at Cost). The fair values disclosed for demand deposits (e.g., interest and noninterest checking, passbook savings and money market accounts) are, by definition, equal to the amount payable on demand at the reporting date (i.e., their carrying amounts) (Level 2). Fair values for fixed-rate certificates of deposit are estimated using a discounted cash flow calculation that applies interest rates currently being offered in the market on certificates to a schedule of aggregated expected monthly maturities on time deposits (Level 2). | ||||||||||||||
Other Borrowings (Carried at Cost). The carrying amount of overnight sweep accounts generally approximate fair value. | ||||||||||||||
Off-Balance Sheet Financial Instruments. Fair values for the Company’s off-balance sheet financial instruments (lending commitments and letters of credit) are based on fees currently charged in the market to enter into similar agreements, taking into account, the remaining terms of the agreements and the counterparties’ credit standing. | ||||||||||||||
Assets Recorded at Fair Value on a Recurring Basis. The following table summarizes investment assets measured at fair value on a recurring basis as of September 30, 2014, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value (in thousands): | ||||||||||||||
Description | Total | (Level 1) | (Level 2) | (Level 3) | ||||||||||
Prices in | Significant | Significant | ||||||||||||
Active | Other | Unobservable | ||||||||||||
Markets for | Observable | Inputs | ||||||||||||
Identical | Inputs | |||||||||||||
Assets | ||||||||||||||
Securities Available for Sale: | ||||||||||||||
Investment security obligations of FHLB | $ | 14,938 | $ | — | $ | 14,938 | $ | — | ||||||
Investment security obligations of Fannie Mae | 1,002 | — | 1,002 | — | ||||||||||
Investment security obligations of Freddie Mac | 3,967 | — | 3,967 | — | ||||||||||
Mortgaged backed security obligations of GNMA | 1,072 | — | 1,072 | — | ||||||||||
Mortgaged backed security obligations of FHLMC | 930 | — | 930 | — | ||||||||||
Mortgaged backed security obligations of FNMA | 1,454 | — | 1,454 | — | ||||||||||
Total | $ | 23,363 | $ | — | $ | 23,363 | $ | — | ||||||
The following table summarizes investment assets measured at fair value on a recurring basis as of December 31, 2013, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value (in thousands): | ||||||||||||||
Description | Total | (Level 1) | (Level 2) | (Level 3) | ||||||||||
Prices in | Significant | Significant | ||||||||||||
Active | Other | Unobservable | ||||||||||||
Markets for | Observable | Inputs | ||||||||||||
Identical | Inputs | |||||||||||||
Assets | ||||||||||||||
Securities Available for Sale: | ||||||||||||||
Investment security obligations of FHLB | $ | 11,537 | $ | — | $ | 11,537 | $ | — | ||||||
Investment security obligations of Fannie Mae | 7,789 | — | 7,789 | — | ||||||||||
Investment security obligations of Freddie Mac | 1,995 | — | 1,995 | — | ||||||||||
Mortgaged backed security obligations of GNMA | 1,189 | — | 1,189 | — | ||||||||||
Mortgaged backed security obligations of FHLMC | 1,282 | — | 1,282 | — | ||||||||||
Mortgaged backed security obligations of FNMA | 2,228 | — | 2,228 | — | ||||||||||
Total | $ | 26,020 | $ | — | $ | 26,020 | $ | — | ||||||
Assets Recorded at Fair Value on a Nonrecurring Basis. For assets measured at fair value on a nonrecurring basis, the fair value measurements by level within the fair value hierarchy used at September 30, 2014 are as follows (in thousands): | ||||||||||||||
Description | Total | (Level 1) | (Level 2) | (Level 3) | ||||||||||
Quoted Prices in | Significant | Significant | ||||||||||||
Active Markets | Other | Unobservable | ||||||||||||
for Identical | Observable | Inputs | ||||||||||||
Assets | Inputs | |||||||||||||
Impaired loans | $ | 3,695 | $ | — | $ | — | $ | 3,695 | ||||||
Other real estate owned | 1,923 | — | — | 1,923 | ||||||||||
Total | $ | 5,618 | $ | — | $ | — | $ | 5,618 | ||||||
The following table presents quantitative information with regards to Level 3 fair value measurements at September 30, 2014 (in thousands); | ||||||||||||||
Description | Fair Value at | Valuation | Unobservable | Range | ||||||||||
September 30, 2014 | Technique | Input | (Weighted | |||||||||||
Average) | ||||||||||||||
Impaired loans | $ | 3,695 | Appraisal of collateral | Appraisal adjustments (1) | 0%-30% (19%) | |||||||||
Other real estate owned | 1,923 | Appraisal of collateral | Appraisal adjustments (1) | 0%-10% (8%) | ||||||||||
Total | $ | 5,618 | ||||||||||||
________________ | ||||||||||||||
-1 | Appraisals are adjusted by management for qualitative factors, including estimated liquidation expenses. The range and weighted average adjustments are presented as a percentage of the appraisal. | |||||||||||||
For assets measured at fair value on a nonrecurring basis, the fair value measurements by level within the fair value hierarchy used at December 31, 2013 are as follows (in thousands): | ||||||||||||||
Description | Total | (Level 1) | (Level 2) | (Level 3) | ||||||||||
Quoted Prices in | Significant | Significant | ||||||||||||
Active Markets | Other | Unobservable | ||||||||||||
for Identical | Observable | Inputs | ||||||||||||
Assets | Inputs | |||||||||||||
Impaired loans | $ | 5,008 | $ | — | $ | — | $ | 5,008 | ||||||
Other real estate owned | 978 | — | — | 978 | ||||||||||
Total | $ | 5,986 | $ | — | $ | — | $ | 5,986 | ||||||
The following table presents quantitative information with regards to Level 3 fair value measurements at December 31, 2013 (in thousands): | ||||||||||||||
Description | Fair Value at | Valuation | Unobservable | Range | ||||||||||
December 31, | Technique | Input | (Weighted | |||||||||||
2013 | Average) | |||||||||||||
Impaired loans | $ | 5,008 | Appraisal of collateral | Appraisal adjustments (1) | 5%-30% (17%) | |||||||||
Other real estate owned | 978 | Appraisal of collateral | Appraisal adjustments (1) | 5%-10% (4%) | ||||||||||
Total | $ | 5,986 | ||||||||||||
________________ | ||||||||||||||
-1 | Appraisals are adjusted by management for qualitative factors, including estimated liquidation expenses. The range and weighted average adjustments are presented as a percentage of the appraisal. | |||||||||||||
There were no transfers between levels for the three and nine months ended September 30, 2014. The Company’s policy is to recognize transfers between levels as of the end of the reporting period. | ||||||||||||||
The carrying amount and estimated fair values of the Company’s financial assets and liabilities were as follows. | ||||||||||||||
At September 30, 2014 | ||||||||||||||
Carrying | Level 1 | Level 2 | Level 3 | |||||||||||
Amount | Fair Value | Fair Value | Fair Value | |||||||||||
(In thousands) | ||||||||||||||
Assets: | ||||||||||||||
Cash and due from banks | $ | 1,197 | $ | 1,197 | $ | — | $ | — | ||||||
Interest bearing deposits at banks | 43,899 | 43,899 | — | — | ||||||||||
Investment securities | 47,065 | — | 47,767 | — | ||||||||||
Mortgage-backed securities | 3,456 | — | 3,456 | — | ||||||||||
Loans receivable, net, including impaired loans | 301,974 | — | — | 302,631 | ||||||||||
FHLB stock | 709 | — | 709 | — | ||||||||||
Accrued interest receivable | 1,470 | — | 1,470 | — | ||||||||||
Liabilities: | ||||||||||||||
NOW and MMDA deposits (1) | $ | 97,134 | — | $ | 97,134 | $ | — | |||||||
Other savings deposits | 52,307 | — | 52,307 | — | ||||||||||
Certificate accounts | 199,267 | — | 199,107 | — | ||||||||||
Other borrowings | 2,526 | — | 2,526 | — | ||||||||||
Accrued interest payable | 9 | — | 9 | — | ||||||||||
Off balance sheet instruments | — | — | — | — | ||||||||||
(1) Includes non-interest bearing accounts, totaling $17,193. | ||||||||||||||
At December 31, 2013 | ||||||||||||||
Carrying | Level 1 | Level 2 | Level 3 | |||||||||||
Amount | Fair Value | Fair Value | Fair Value | |||||||||||
(In thousands) | ||||||||||||||
Assets: | ||||||||||||||
Cash and due from banks | $ | 1,530 | $ | 1,530 | $ | — | $ | — | ||||||
Interest bearing deposits at banks | 43,694 | 43,694 | — | — | ||||||||||
Investment securities | 49,679 | — | 49,724 | — | ||||||||||
Mortgage-backed securities | 4,698 | — | 4,698 | — | ||||||||||
Loans receivable, net, including, impaired loans | 298,877 | — | — | 300,029 | ||||||||||
FHLB stock | 647 | — | 647 | — | ||||||||||
Accrued interest receivable | 1,465 | — | 1,465 | — | ||||||||||
Liabilities: | ||||||||||||||
NOW and MMDA deposits (1) | $ | 96,094 | $ | — | $ | 96,094 | $ | — | ||||||
Other savings deposits | 52,197 | — | 52,197 | — | ||||||||||
Certificate accounts | 197,087 | — | 196,901 | — | ||||||||||
Borrowings | 3,437 | — | 3,437 | — | ||||||||||
Accrued interest payable | 9 | — | 9 | — | ||||||||||
Off balance sheet instruments | — | — | — | — | ||||||||||
(1) Includes non-interest bearing accounts, totaling $16,409. | ||||||||||||||
Investment_and_Mortgage_Backed
Investment and Mortgage Backed Securities | 9 Months Ended | |||||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ' | |||||||||||||||||||
Investment Securities Available For Sale and Held To Maturity [Text Block] | ' | |||||||||||||||||||
(8) Investment and Mortgage Backed Securities | ||||||||||||||||||||
The Bank classifies and accounts for debt and equity securities as follows: | ||||||||||||||||||||
⋅ | Securities Held to Maturity - Securities held to maturity are stated at cost, adjusted for unamortized purchase premiums and discounts, based on the positive intent and the ability to hold these securities to maturity considering all reasonably foreseeable conditions and events. | |||||||||||||||||||
⋅ | Securities Available for Sale - Securities available for sale, carried at fair value, are those securities management might sell in response to changes in market interest rates, increases in loan demand, changes in liquidity needs and other conditions. Unrealized gains and losses, net of tax, are reported as a net amount in accumulated other comprehensive income (loss) until realized. | |||||||||||||||||||
Purchase premiums and discounts are amortized to income over the life of the related security using the interest method. The adjusted cost of a specific security sold is the basis for determining the gain or loss on the sale. | ||||||||||||||||||||
Securities Available for Sale and Held to Maturity | ||||||||||||||||||||
The amortized cost, gross unrealized gains and losses, and the fair values of securities available for sale and held to maturity are shown below. Where applicable, the maturity distribution and the fair value of securities, by contractual maturity, are shown. Actual maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. | ||||||||||||||||||||
September 30, 2014 | ||||||||||||||||||||
Dollars in Thousands | Amortized | Gross Unrealized | Fair | |||||||||||||||||
Available for Sale: | Cost | Gains | Losses | Value | ||||||||||||||||
Obligations of the Federal Home Loan Bank: | ||||||||||||||||||||
Due after 1 years through 5 years | $ | 6,000 | $ | 1 | $ | -18 | $ | 5,983 | ||||||||||||
Due after 5 years through 10 years | 5,000 | — | -27 | 4,973 | ||||||||||||||||
Due after 10 years | 4,000 | — | -18 | 3,982 | ||||||||||||||||
Total | $ | 15,000 | $ | 1 | $ | -63 | $ | 14,938 | ||||||||||||
September 30, 2014 | ||||||||||||||||||||
Amortized | Gross Unrealized | Fair | ||||||||||||||||||
Cost | Gains | Losses | Value | |||||||||||||||||
Obligations of Fannie Mae: | ||||||||||||||||||||
Due after 1 year through 5 years | $ | 1,000 | $ | 2 | $ | — | $ | 1,002 | ||||||||||||
Total | $ | 1,000 | $ | 2 | $ | — | $ | 1,002 | ||||||||||||
September 30, 2014 | ||||||||||||||||||||
Amortized | Gross Unrealized | Fair | ||||||||||||||||||
Cost | Gains | Losses | Value | |||||||||||||||||
Obligations of Freddie Mac: | ||||||||||||||||||||
Due after 1 years through 5 years | $ | 1,000 | $ | — | $ | — | $ | 1,000 | ||||||||||||
Due after 5 years through 10 years | 3,000 | — | -33 | 2,967 | ||||||||||||||||
Total | $ | 4,000 | $ | — | $ | -33 | $ | 3,967 | ||||||||||||
Total Investment Securities Available for Sale | $ | 20,000 | $ | 3 | $ | -96 | $ | 19,907 | ||||||||||||
September 30, 2014 | ||||||||||||||||||||
Amortized | Gross Unrealized | Fair | ||||||||||||||||||
Held to Maturity | Cost | Gains | Losses | Value | ||||||||||||||||
Municipal Obligations: | ||||||||||||||||||||
Due in 1 year or less | $ | 1,427 | $ | 1 | $ | -1 | $ | 1,427 | ||||||||||||
Due after 1 years through 5 years | 6,014 | 27 | -4 | 6,037 | ||||||||||||||||
Due after 5 years through 10 years | 7,801 | 45 | -26 | 7,820 | ||||||||||||||||
Due after 10 years | 11,916 | 657 | -7 | 12,566 | ||||||||||||||||
Total | $ | 27,158 | $ | 730 | $ | -38 | $ | 27,850 | ||||||||||||
December 31, 2013 | ||||||||||||||||||||
Amortized | Gross Unrealized | Fair | ||||||||||||||||||
Available for Sale: | Cost | Gains | Losses | Value | ||||||||||||||||
Obligations of the Federal Home Loan Bank: | ||||||||||||||||||||
Due after 1 years through 5 years | $ | 3,000 | $ | — | $ | -39 | $ | 2,961 | ||||||||||||
Due after 5 years through 10 years | 5,000 | — | -248 | 4,752 | ||||||||||||||||
Due after 10 years | 4,000 | — | -176 | 3,824 | ||||||||||||||||
Total | $ | 12,000 | $ | — | $ | -463 | $ | 11,537 | ||||||||||||
December 31, 2013 | ||||||||||||||||||||
Amortized | Gross Unrealized | Fair | ||||||||||||||||||
Cost | Gains | Losses | Value | |||||||||||||||||
Dollars in Thousands | ||||||||||||||||||||
Obligations of FHLMC: | ||||||||||||||||||||
Due after 1 year through 5 years | $ | 2,000 | $ | 2 | $ | -7 | $ | 1,995 | ||||||||||||
Total | $ | 2,000 | $ | 2 | $ | -7 | $ | 1,995 | ||||||||||||
December 31, 2013 | ||||||||||||||||||||
Amortized | Gross Unrealized | Fair | ||||||||||||||||||
Cost | Gains | Losses | Value | |||||||||||||||||
Obligations of the Fannie Mae: | ||||||||||||||||||||
Due after 1 years through 5 years | $ | 5,000 | $ | 1 | $ | -21 | $ | 4,980 | ||||||||||||
Due after 10 years | 3,000 | — | -191 | 2,809 | ||||||||||||||||
Total | $ | 8,000 | $ | 1 | $ | -212 | $ | 7,789 | ||||||||||||
Total Investment Securities Available for Sale | $ | 22,000 | $ | 3 | $ | -682 | $ | 21,321 | ||||||||||||
December 31, 2013 | ||||||||||||||||||||
Amortized | Gross Unrealized | Fair | ||||||||||||||||||
Held to Maturity | Cost | Gains | Losses | Value | ||||||||||||||||
Municipal Obligations: | ||||||||||||||||||||
Due in 1 year or less | $ | 1,435 | $ | 2 | $ | — | $ | 1,437 | ||||||||||||
Due after 1 year through 5 years | 6,228 | 32 | -12 | 6,248 | ||||||||||||||||
Due after 5 years through 10 years | 6,152 | 23 | -183 | 5,992 | ||||||||||||||||
Due after 10 years | 14,543 | 273 | $ | -90 | 14,726 | |||||||||||||||
Total | $ | 28,358 | $ | 330 | $ | -285 | $ | 28,403 | ||||||||||||
Included in obligations of U.S. Government agencies at September 30, 2014 and December 31, 2013, were $19.9 million and $20.3 million of structured notes, respectively. These structured notes were comprised of step-up bonds that provide the U.S. Government agency with the right, but not the obligation, to call the bonds on certain dates. There were no sales of investment securities during the three or nine months ended September 30, 2014 or 2013. | ||||||||||||||||||||
Mortgage-Backed Securities Available for Sale | ||||||||||||||||||||
The amortized cost, gross unrealized gains and losses, and the fair values of mortgage-backed securities available for sale are as follows: | ||||||||||||||||||||
September 30, 2014 | ||||||||||||||||||||
Dollars in Thousands | Amortized | Gross Unrealized | Fair | |||||||||||||||||
Cost | Gains | Losses | Value | |||||||||||||||||
GNMA pass-through certificates | $ | 1,013 | $ | 62 | $ | -3 | $ | 1,072 | ||||||||||||
FHLMC pass-through certificates | 843 | 87 | — | 930 | ||||||||||||||||
FNMA pass-through certificates | 1,381 | 73 | — | 1,454 | ||||||||||||||||
Total | $ | 3,237 | $ | 222 | $ | -3 | $ | 3,456 | ||||||||||||
December 31, 2013 | ||||||||||||||||||||
Dollars in Thousands | Amortized | Gross Unrealized | Fair | |||||||||||||||||
Cost | Gains | Losses | Value | |||||||||||||||||
GNMA pass-through certificates | $ | 1,109 | $ | 80 | $ | — | $ | 1,189 | ||||||||||||
FHLMC pass-through certificates | 1,180 | 102 | — | 1,282 | ||||||||||||||||
FNMA pass-through certificates | 2,113 | 115 | — | 2,228 | ||||||||||||||||
Total | $ | 4,402 | $ | 297 | $ | — | $ | 4,699 | ||||||||||||
There were no sales of mortgage-backed securities during the three or nine months ended September 30, 2014 or 2013. | ||||||||||||||||||||
The following table shows the fair value and unrealized losses on investments, aggregated by investment category and the length of time that individual securities have been in a continuous unrealized loss position. | ||||||||||||||||||||
At September 30, 2014 | ||||||||||||||||||||
Less than 12 Months | 12 Months or Longer | Total | ||||||||||||||||||
Dollars in Thousands | Fair | Gross | Fair | Gross | Fair | Gross | ||||||||||||||
Value | Unrealized | Value | Unrealized | Value | Unrealized | |||||||||||||||
Losses | Losses | Losses | ||||||||||||||||||
Securities Available for Sale | ||||||||||||||||||||
U.S. Government obligations | $ | 11,961 | $ | 39 | $ | 3,943 | $ | 57 | $ | 15,904 | $ | 96 | ||||||||
Mortgage-backed securities | 250 | 3 | — | — | 250 | 3 | ||||||||||||||
$ | 12,211 | $ | 42 | $ | 3,943 | $ | 57 | $ | 16,154 | $ | 99 | |||||||||
Securities Held to Maturity | ||||||||||||||||||||
Municipal obligations | $ | 3,875 | $ | 11 | $ | 2,984 | $ | 27 | $ | 6,859 | $ | 38 | ||||||||
At December 31, 2013 | ||||||||||||||||||||
Less than 12 Months | 12 Months or Longer | Total | ||||||||||||||||||
Dollars in Thousands | Fair | Gross | Fair | Gross | Fair | Gross | ||||||||||||||
Value | Unrealized | Value | Unrealized | Value | Unrealized | |||||||||||||||
Losses | Losses | Losses | ||||||||||||||||||
Securities Available for Sale | ||||||||||||||||||||
U.S. Government obligations | $ | 19,319 | $ | 681 | $ | — | $ | — | $ | 19,319 | $ | 681 | ||||||||
Securities Held to Maturity | ||||||||||||||||||||
Municipal obligations | $ | 10,210 | $ | 245 | $ | 427 | $ | 40 | $ | 10,637 | $ | 285 | ||||||||
Other-than-temporary impairment, if any, is separated into (a) the amount of the total other-than-temporary impairment related to a decrease in cash flows expected to be collected from the debt security (the credit loss) and (b) the amount of the total other-than-temporary impairment related to all other factors. The amount of the total other-than-temporary impairment related to the credit loss is recognized in earnings. The amount of the total other-than-temporary impairment related to all other factors is recognized in other comprehensive income. | ||||||||||||||||||||
As of September 30, 2014, management believes that the estimated fair value of the securities disclosed above is primarily dependent upon the movement in market interest rates particularly given the negligible inherent credit risk associated with the issuers of these securities. | ||||||||||||||||||||
Although the fair value will fluctuate as market interest rates move, management believes that these fair values will recover as the underlying portfolios mature. As of September 30, 2014, there were seven U.S. government obligations in an unrealized loss position for less than twelve months and four in an unrealized loss position for more than twelve months, three mortgage backed securities were in an unrealized loss position for less than twelve months, and five municipal obligations were in an unrealized loss position for less than twelve months and five in an unrealized loss position for more than twelve months. The Company does not intend to sell these securities and it is not more likely than not that it will be required to sell these securities before recovery. Management does not believe any individual unrealized loss as of September 30, 2014 represents an other-than-temporary impairment. | ||||||||||||||||||||
Loans_Receivable_Net
Loans Receivable - Net | 9 Months Ended | |||||||
Sep. 30, 2014 | ||||||||
Receivables [Abstract] | ' | |||||||
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | ' | |||||||
(9) Loans Receivable - Net | ||||||||
Loans receivable consist of the following: | ||||||||
Dollars in Thousands | At September 30, | At December 31, | ||||||
2014 | 2013 | |||||||
Real estate loans: | ||||||||
Single-family | $ | 121,408 | $ | 124,223 | ||||
Multi-family | 21,193 | 22,181 | ||||||
Commercial | 124,321 | 122,814 | ||||||
Land and construction | 23,843 | 19,792 | ||||||
Commercial business | 12,345 | 10,403 | ||||||
Consumer | 3,948 | 4,495 | ||||||
Total loans receivable | 307,058 | 303,908 | ||||||
Less: | ||||||||
Deferred fees | -683 | -788 | ||||||
Allowance for loan losses | -4,401 | -4,243 | ||||||
Loans receivable - net | $ | 301,974 | $ | 298,877 | ||||
The Company originates loans to customers located primarily in Southeastern Pennsylvania. This geographic concentration of credit exposes the Company to a higher degree of risk associated with this economic region. | ||||||||
Single-family real estate loans primarily consist of first mortgage liens on existing single-family residences and home equity loans. The Company intends to continue to originate permanent loans secured by first mortgage liens and related home equity loans on single-family residential properties in the future. | ||||||||
Multi-family and commercial real estate loans are made on terms up to 30 years, some of which include call or balloon provisions ranging from five to fifteen years. The Company will originate and purchase these loans either with fixed interest rates or with interest rates that adjust in accordance with a designated index. | ||||||||
The Company also originates residential and commercial construction loans and, to a limited degree, land acquisition and development loans. Construction loans are classified as either residential construction loans or commercial real estate construction loans at the time of origination, depending on the nature of the property securing the loan. | ||||||||
The Company has a commercial loan department to provide a full range of commercial loan products to small business customers in its primary marketing area. These loans generally have shorter terms and higher interest rates as compared to mortgage loans. | ||||||||
The Company offers consumer loans in order to provide a full range of financial services to its customers and because such loans generally have shorter terms and higher interest rates than mortgage loans. The consumer loans presently offered by the Company include deposit account secured loans and lines of credit. | ||||||||
Loan_Credit_Quality
Loan Credit Quality | 9 Months Ended | ||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||
Loan Credit Quality Abstract [Abstract] | ' | ||||||||||||||||||||||
Loan Credit Quality [Text Block] | ' | ||||||||||||||||||||||
(10) Loan Credit Quality | |||||||||||||||||||||||
For all classes of loans receivable, the accrual of interest is discontinued when the contractual payment of principal or interest has become 90 days past due or management has serious doubts about further collectability of principal or interest, even though the loan may be currently performing. A loan may remain on accrual status if it is in the process of collection and is either guaranteed or well secured. Generally, when a loan is placed on nonaccrual status, unpaid interest credited to income in the current year is reversed and unpaid interest accrued in prior years is charged against the allowance for loan losses. Interest received on nonaccrual loans, including impaired loans, generally is either applied against principal or reported as interest income, according to management’s judgment as to the collectability of principal. Generally, loans are restored to accrual status when the obligation is brought current, has performed in accordance with the contractual terms for a reasonable period of time (generally six months) and the ultimate collectability of the total contractual principal and interest is no longer in doubt. The past due status of all classes of loans receivable is determined based on contractual due dates for loan payments. | |||||||||||||||||||||||
The performance and credit quality of the loan portfolio is also monitored by analyzing the age of the loans receivable as determined by the length of time a recorded payment is past due. The following table presents the classes of the loan portfolio summarized by the past due status as of September 30, 2014: | |||||||||||||||||||||||
(Dollars in thousands) | 30-59 | 60-89 | 90 or | Total | Current | Total | Loans | ||||||||||||||||
Days | Days | More | Past Due | Loans | Receivable | ||||||||||||||||||
Past Due | Past | Days | Receivable | Greater Than | |||||||||||||||||||
Due | 90 Days Past | ||||||||||||||||||||||
Due and | |||||||||||||||||||||||
Accruing | |||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||
Single-family | $ | 555 | $ | 79 | $ | 1,078 | $ | 1,712 | $ | 119,696 | $ | 121,408 | $ | 782 | |||||||||
Multi-family | — | — | — | — | 21,193 | 21,193 | — | ||||||||||||||||
Commercial | 856 | 689 | 297 | 1,842 | 122,479 | 124,321 | — | ||||||||||||||||
Land and construction | — | — | — | — | 23,843 | 23,843 | — | ||||||||||||||||
Commercial business | — | — | — | — | 12,345 | 12,345 | — | ||||||||||||||||
Consumer | 199 | 56 | 258 | 513 | 3,435 | 3,948 | 258 | ||||||||||||||||
Total | $ | 1,610 | $ | 824 | $ | 1,633 | $ | 4,067 | $ | 302,991 | $ | 307,058 | $ | 1,040 | |||||||||
The following table presents the classes of the loan portfolio summarized by the past due status as of December 31, 2013: | |||||||||||||||||||||||
(Dollars in thousands) | 30-59 | 60-89 | 90 or | Total | Current | Total | Loans | ||||||||||||||||
Days | Days | More | Past Due | Loans | Receivable | ||||||||||||||||||
Past Due | Past | Days | Receivable | Greater Than | |||||||||||||||||||
Due | 90 Days Past | ||||||||||||||||||||||
Due and | |||||||||||||||||||||||
Accruing | |||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||
Single-family | $ | 532 | $ | 159 | $ | 1,390 | $ | 2,081 | $ | 122,142 | $ | 124,223 | $ | 638 | |||||||||
Multi-family | — | — | — | — | 22,181 | 22,181 | — | ||||||||||||||||
Commercial | 455 | 198 | 744 | 1,397 | 121,417 | 122,814 | — | ||||||||||||||||
Land and construction | — | — | — | — | 19,792 | 19,792 | — | ||||||||||||||||
Commercial business | 64 | — | — | 64 | 10,339 | 10,403 | — | ||||||||||||||||
Consumer | 123 | 89 | 412 | 624 | 3,871 | 4,495 | 412 | ||||||||||||||||
Total | $ | 1,174 | $ | 446 | $ | 2,546 | $ | 4,166 | $ | 299,742 | $ | 303,908 | $ | 1,050 | |||||||||
The following table presents nonaccrual loans by classes of the loan portfolio as of September 30, 2014 and December 31, 2013: | |||||||||||||||||||||||
September 30, | December 31, | ||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||
Single-family | $ | 296 | $ | 752 | |||||||||||||||||||
Multi-family | — | — | |||||||||||||||||||||
Commercial | 810 | 744 | |||||||||||||||||||||
Land and construction | — | — | |||||||||||||||||||||
Commercial business | — | — | |||||||||||||||||||||
Consumer | — | — | |||||||||||||||||||||
Total non-accruing loans | $ | 1,106 | $ | 1,496 | |||||||||||||||||||
Allowance for Loan Losses | |||||||||||||||||||||||
The allowance for loan losses is increased by charges to income and decreased by chargeoffs (net of recoveries). Allowances are provided for specific loans when losses are probable and can be estimated. When this occurs, management considers the remaining principal balance, fair value and estimated net realizable value of the property collateralizing the loan. Current and future operating and/or sales conditions are also considered. These estimates are susceptible to changes that could result in material adjustments to results of operations. Recovery of the carrying value of such loans is dependent to a great extent on economic, operating and other conditions that may be beyond management’s control. | |||||||||||||||||||||||
The allowance for loan losses is maintained at a level considered adequate to provide for losses that can be reasonably anticipated. Management performs a quarterly evaluation of the adequacy of the allowance. The allowance is based on the Company’s past loan loss experience, known and inherent risks in the portfolio, adverse situations that may affect the borrower’s ability to repay, the estimated value of any underlying collateral, composition of the loan portfolio, current economic conditions and other relevant factors. This evaluation is inherently subjective as it requires material estimates that may be susceptible to significant revision as more information becomes available. | |||||||||||||||||||||||
The allowance consists of specific, general and unallocated components. The specific component relates to loans that are classified as impaired. For loans that are classified as impaired, an allowance is established when the discounted cash flows (or collateral value or observable market price) of the impaired loan is lower than the carrying value of that loan. | |||||||||||||||||||||||
An unallocated component, if any, is maintained to cover uncertainties that could affect management’s estimate of probable losses. The unallocated component of the allowance reflects the margin of imprecision inherent in the underlying assumptions used in the methodologies for estimating specific and general losses in the portfolio. | |||||||||||||||||||||||
The general component covers pools of loans by loan class including commercial loans not considered impaired, as well as smaller balance homogeneous loans, such as residential real estate, home equity and other consumer loans. These pools of loans are evaluated for loss exposure based upon historical loss rates for each of these categories of loans, adjusted for qualitative factors. These qualitative risk factors include: | |||||||||||||||||||||||
1 | Lending policies and procedures, including underwriting standards and collection, charge-off, and recovery practices. | ||||||||||||||||||||||
2 | National, regional, and local economic and business conditions as well as the condition of various market segments, including the value of underlying collateral for collateral dependent loans. | ||||||||||||||||||||||
3 | Nature and volume of the portfolio and terms of loans. | ||||||||||||||||||||||
4 | Experience, ability, and depth of lending management and staff. | ||||||||||||||||||||||
5 | Volume and severity of past due, classified and nonaccrual loans as well as and other loan modifications. | ||||||||||||||||||||||
6 | Quality of the Company’s loan review system, and the degree of oversight by the Company’s Board of Directors. | ||||||||||||||||||||||
7 | Existence and effect of any concentrations of credit and changes in the level of such concentrations. | ||||||||||||||||||||||
8 | Effect of external factors, such as competition and legal and regulatory requirements. | ||||||||||||||||||||||
Each factor is assigned a value to reflect improving, stable or declining conditions based on management’s best judgment using relevant information available at the time of the evaluation. Adjustments to the factors are supported through documentation of changes in conditions in a narrative accompanying the allowance for loan loss calculation. | |||||||||||||||||||||||
Single family real estate loans involve certain risks such as interest rate risk and risk of non repayment. Adjustable-rate single family real estate loans decreases the interest rate risk to the Company that is associated with changes in interest rates but involve other risks, primarily because as interest rates rise, the payment by the borrower rises to the extent permitted by the terms of the loan, thereby increasing the potential for default. At the same time, the marketability of the underlying property may be adversely affected by higher interest rates. Repayment risk can be affected by job loss, divorce, illness and personal bankruptcy or the borrower. | |||||||||||||||||||||||
Multi-family and commercial real estate lending entails significant risks. Such loans typically involve large loan balances to single borrowers or groups of related borrowers. The payment experience on such loans is typically dependent on the successful operation of the real estate project. The success of such projects is sensitive to changes in supply and demand conditions in the market for multi-family and commercial real estate as well as economic conditions generally. | |||||||||||||||||||||||
Construction lending is generally considered to involve a high risk due to the concentration of principal in a limited number of loans and borrowers and the effects of general economic conditions on developers and builders. Moreover, a construction loan can involve additional risks because of the inherent difficulty in estimating both a property's value at completion of the project and the estimated cost (including interest) of the project. The nature of these loans is such that they are generally difficult to evaluate and monitor. In addition, speculative construction loans to a builder are not necessarily pre-sold and thus pose a greater potential risk to the Company than construction loans to individuals on their personal residences. | |||||||||||||||||||||||
Commercial business lending is generally considered higher risk due to the concentration of principal in a limited number of loans and borrowers and the effects of general economic conditions on the business assets. Commercial business loans are primarily secured by inventories and other business assets. In most cases, any repossessed collateral for a defaulted commercial business loans will not provide an adequate source of repayment of the outstanding loan balance. | |||||||||||||||||||||||
Consumer loans generally have shorter terms and higher interest rates than other lending but generally involve high credit risk because of the type and nature of the collateral and, in certain cases, the absence of collateral. In addition, consumer lending collections are dependent on the borrower's continuing financial stability, and thus are more likely to be adversely effected by job loss, divorce, illness and personal bankruptcy. In most cases, any repossessed collateral for a defaulted consumer loan will not provide an adequate source of repayment of the outstanding loan. | |||||||||||||||||||||||
The allowance calculation methodology includes further segregation of loan classes into risk rating categories. The borrower’s overall financial condition, repayment sources, guarantors and value of collateral, if appropriate, are evaluated annually for commercial and construction loans or when credit deficiencies arise, such as delinquent loan payments, for commercial and consumer loans. Credit quality risk ratings include regulatory classifications of special mention, substandard, doubtful and loss. Loans criticized special mention have potential weaknesses that deserve management’s close attention. If uncorrected, the potential weaknesses may result in deterioration of the repayment prospects. Loans classified substandard have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They include loans that are inadequately protected by the current sound net worth and paying capacity of the obligor or of the value of the collateral pledged, if any. Loans classified doubtful have all the weaknesses inherent in loans classified substandard with the added characteristic that collection or liquidation in full, on the basis of current conditions and facts, is highly improbable. Loans classified as a loss are considered uncollectible and are charged to the allowance for loan losses. Loans not classified are rated pass. | |||||||||||||||||||||||
While management uses the best information available 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. Historically, our estimates of the allowance for loan losses have not required significant adjustments from management’s initial estimates. In addition, the Department and the FDIC, as an integral part of their examination processes, periodically review our allowance for loan losses. The Department and the FDIC may require the recognition of adjustments to the allowance for loan losses based on their judgment of information available to them at the time of their examinations. To the extent that actual outcomes differ from management’s estimates, additional provisions to the allowance for loan losses may be required that would adversely impact earnings in future periods. | |||||||||||||||||||||||
The following table presents the activity in the allowance for loan losses and related recorded investment in loans receivable by classes of the loans individually and collectively evaluated for impairment as of and for the three and nine months ended September 30, 2014: | |||||||||||||||||||||||
(Dollars in thousands) | Single | Multi | Commercial | Land and | Consumer | Commercial | Total | ||||||||||||||||
Family | Family | Real Estate | Construction | Business | |||||||||||||||||||
Real | Real | ||||||||||||||||||||||
Estate | Estate | ||||||||||||||||||||||
Allowance for loan losses for the three months ended September 30, 2014: | |||||||||||||||||||||||
Beginning balance | $ | 858 | $ | 301 | $ | 2,415 | $ | 653 | $ | 12 | $ | 226 | $ | 4,465 | |||||||||
Charge-offs | — | — | -166 | — | — | — | -166 | ||||||||||||||||
Recoveries | 2 | — | — | — | — | — | 2 | ||||||||||||||||
Provisions | — | -6 | 104 | 1 | — | 1 | 100 | ||||||||||||||||
Ending balance | $ | 860 | $ | 295 | $ | 2,353 | $ | 654 | $ | 12 | $ | 227 | $ | 4,401 | |||||||||
Allowance for loan losses for the nine months ended September 30, 2014: | |||||||||||||||||||||||
Beginning balance | $ | 833 | $ | 304 | $ | 2,259 | $ | 618 | $ | 14 | $ | 215 | $ | 4,243 | |||||||||
Charge-offs | -32 | — | -166 | — | -2 | — | -200 | ||||||||||||||||
Recoveries | 4 | — | 3 | — | 1 | — | 8 | ||||||||||||||||
Provisions | 55 | -9 | 257 | 36 | -1 | 12 | 350 | ||||||||||||||||
Ending balance | $ | 860 | $ | 295 | $ | 2,353 | $ | 654 | $ | 12 | $ | 227 | $ | 4,401 | |||||||||
Ending balance: | |||||||||||||||||||||||
individually evaluated for impairment | $ | 15 | $ | — | $ | 423 | $ | — | $ | — | $ | — | $ | 438 | |||||||||
Ending balance: | |||||||||||||||||||||||
collectively evaluated for impairment | $ | 845 | $ | 295 | $ | 1,930 | $ | 654 | $ | 12 | $ | 227 | $ | 3,963 | |||||||||
Loans receivable: | |||||||||||||||||||||||
Ending balance | $ | 121,408 | $ | 21,193 | $ | 124,321 | $ | 23,843 | $ | 12,345 | $ | 3,948 | $ | 307,058 | |||||||||
Ending balance: | |||||||||||||||||||||||
individually evaluated for impairment | $ | 1,045 | $ | — | $ | 7,818 | $ | — | $ | — | $ | — | $ | 8,863 | |||||||||
Ending balance: | |||||||||||||||||||||||
collectively evaluated for impairment | $ | 120,363 | $ | 21,193 | $ | 116,503 | $ | 23,843 | $ | 12,345 | $ | 3,948 | $ | 298,195 | |||||||||
The following table presents the activity in the allowance for loan losses and related recorded investment in loans receivable by classes of the loans individually and collectively evaluated for impairment as of and for the three and nine months ended September 30, 2013: | |||||||||||||||||||||||
(Dollars in thousands) | Single | Multi | Commercial | Land and | Consumer | Commercial | Total | ||||||||||||||||
Family | Family | Real Estate | Construction | Business | |||||||||||||||||||
Real | Real | ||||||||||||||||||||||
Estate | Estate | ||||||||||||||||||||||
Allowance for loan losses for the three months ended September 30, 2013: | |||||||||||||||||||||||
Beginning balance | $ | 953 | $ | 148 | $ | 2,395 | $ | 651 | $ | 10 | $ | 225 | $ | 4,382 | |||||||||
Charge-offs | -8 | — | -18 | — | -4 | — | -30 | ||||||||||||||||
Recoveries | — | — | — | — | 2 | — | 2 | ||||||||||||||||
Provisions | 45 | 97 | 199 | -209 | 3 | 15 | 150 | ||||||||||||||||
Ending balance | $ | 990 | $ | 245 | $ | 2,576 | $ | 442 | $ | 11 | $ | 240 | $ | 4,504 | |||||||||
Allowance for loan losses for the nine months ended September 30, 2013: | |||||||||||||||||||||||
Beginning balance | $ | 1,027 | $ | 623 | $ | 2,674 | $ | 352 | $ | 18 | $ | 225 | $ | 4,919 | |||||||||
Charge-offs | -241 | -359 | -310 | — | -6 | — | -916 | ||||||||||||||||
Recoveries | 18 | — | — | 30 | — | 3 | 51 | ||||||||||||||||
Provisions | 186 | -19 | 212 | 60 | -1 | 12 | 450 | ||||||||||||||||
Ending balance | $ | 990 | $ | 245 | $ | 2,576 | $ | 442 | $ | 11 | $ | 240 | $ | 4,504 | |||||||||
Ending balance: | |||||||||||||||||||||||
individually evaluated for impairment | $ | 18 | $ | — | $ | 755 | $ | — | $ | — | $ | — | $ | 773 | |||||||||
Ending balance: | |||||||||||||||||||||||
collectively evaluated for impairment | $ | 972 | $ | 245 | $ | 1,821 | $ | 442 | $ | 11 | $ | 240 | $ | 3,731 | |||||||||
Loans receivable: | |||||||||||||||||||||||
Ending balance | $ | 124,327 | $ | 23,253 | $ | 115,768 | $ | 13,461 | $ | 4,714 | $ | 10,590 | $ | 292,113 | |||||||||
Ending balance: | |||||||||||||||||||||||
individually evaluated for impairment | $ | 555 | $ | — | $ | 9,969 | $ | — | $ | — | $ | — | $ | 10,524 | |||||||||
Ending balance: | |||||||||||||||||||||||
collectively evaluated for impairment | $ | 123,772 | $ | 23,253 | $ | 105,799 | $ | 13,461 | $ | 4,714 | $ | 10,590 | $ | 281,589 | |||||||||
The following table presents the allowance for loan losses and related recorded investment in loans receivable by classes of the loans individually and collectively evaluated for impairment as of December 31, 2013: | |||||||||||||||||||||||
(Dollars in thousands) | Single | Multi | Commercial | Land and | Consumer | Commercial | Total | ||||||||||||||||
Family | Family | Real Estate | Construction | Business | |||||||||||||||||||
Real | Real | ||||||||||||||||||||||
Estate | Estate | ||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||
Ending balance | $ | 833 | $ | 304 | $ | 2,259 | $ | 618 | $ | 14 | $ | 215 | $ | 4,243 | |||||||||
Ending balance: | |||||||||||||||||||||||
individually evaluated for impairment | $ | 18 | $ | — | $ | 526 | $ | — | $ | — | $ | — | $ | 544 | |||||||||
Ending balance: | |||||||||||||||||||||||
collectively evaluated for impairment | $ | 815 | $ | 304 | $ | 1,733 | $ | 618 | $ | 14 | $ | 215 | $ | 3,699 | |||||||||
Loans receivable: | |||||||||||||||||||||||
Ending balance | $ | 124,223 | $ | 22,181 | $ | 122,814 | $ | 19,792 | $ | 4,495 | $ | 10,403 | $ | 303,908 | |||||||||
Ending balance: | |||||||||||||||||||||||
individually evaluated for impairment | $ | 552 | $ | — | $ | 8,895 | $ | — | $ | — | $ | — | $ | 9,447 | |||||||||
Ending balance: | |||||||||||||||||||||||
collectively evaluated for impairment | $ | 123,671 | $ | 22,181 | $ | 113,919 | $ | 19,792 | $ | 4,495 | $ | 10,403 | $ | 294,461 | |||||||||
The following table presents the classes of the loan portfolio summarized by the aggregate pass rating and the classified ratings of special mention, substandard and doubtful within the Company's internal risk rating system as of September 30, 2014: | |||||||||||||||||||||||
Pass | Special | Substandard | Doubtful | Total | |||||||||||||||||||
Mention | |||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||
Single-family | $ | 119,017 | $ | 715 | $ | 1,676 | $ | — | $ | 121,408 | |||||||||||||
Multi-family | 21,193 | — | — | — | 21,193 | ||||||||||||||||||
Commercial | 116,865 | 545 | 6,911 | — | 124,321 | ||||||||||||||||||
Land and construction | 23,843 | — | — | — | 23,843 | ||||||||||||||||||
Commercial business | 12,345 | — | — | — | 12,345 | ||||||||||||||||||
Consumer | 3,948 | — | — | — | 3,948 | ||||||||||||||||||
Total | $ | 297,211 | $ | 1,260 | $ | 8,587 | $ | — | $ | 307,058 | |||||||||||||
The following table presents the classes of the loan portfolio summarized by the aggregate pass rating and the classified ratings of special mention, substandard and doubtful within the Company's internal risk rating system as of December 31, 2013: | |||||||||||||||||||||||
(Dollars in thousands) | Pass | Special | Substandard | Doubtful | Total | ||||||||||||||||||
Mention | |||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||
Single-family | $ | 122,472 | $ | 361 | $ | 1,390 | $ | — | $ | 124,223 | |||||||||||||
Multi-family | 22,181 | — | — | — | 22,181 | ||||||||||||||||||
Commercial | 113,920 | 1,479 | 7,415 | — | 122,814 | ||||||||||||||||||
Land and construction | 19,792 | — | — | — | 19,792 | ||||||||||||||||||
Commercial business | 10,403 | — | — | — | 10,403 | ||||||||||||||||||
Consumer | 4,495 | — | — | — | 4,495 | ||||||||||||||||||
Total | $ | 293,263 | $ | 1,840 | $ | 8,805 | $ | — | $ | 303,908 | |||||||||||||
Loan Impairment | |||||||||||||||||||||||
A loan is considered impaired when, based on current information and events, it is probable that the Company will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record and the amount of the shortfall in relation to the principal and interest owed. Impairment is measured on a loan by loan basis for commercial and industrial loans, commercial real estate loans and commercial construction loans by either the present value of expected future cash flows discounted at the loan’s effective interest rate or the fair value of the collateral if the loan is collateral dependent. | |||||||||||||||||||||||
An allowance for loan losses is established for an impaired loan if its carrying value exceeds its estimated fair value. Currently, estimated fair values of substantially all of the Company’s impaired loans are measured based on the estimated fair value of the loan’s collateral. | |||||||||||||||||||||||
The Company does not separately identify individual single-family loans secured by real estate unless such loans are the subject of a troubled debt restructuring agreement. Large groups of these smaller balance homogeneous loans are collectively evaluated for impairment. | |||||||||||||||||||||||
For multi-family, land and construction, and commercial loans secured by real estate, estimated fair values are determined primarily through third-party appraisals. When a real estate secured loan becomes impaired, a decision is made regarding whether an updated certified appraisal of the real estate is necessary. This decision is based on various considerations, including the age of the most recent appraisal, the loan-to-value ratio based on the original appraisal and the condition of the property. Appraised values are discounted to arrive at the estimated selling price of the collateral, which is considered to be the estimated fair value. The discounts also include estimated costs to sell the property. | |||||||||||||||||||||||
For commercial business loans secured by non-real estate collateral, such as accounts receivable, inventory and equipment, estimated fair values are determined based on the borrower’s financial statements, inventory reports, accounts receivable agings or equipment appraisals or invoices. Indications of value from these sources are generally discounted based on the age of the financial information or the quality of the assets. | |||||||||||||||||||||||
The Company does not separately identify consumer and other loans unless such loans are the subject of a troubled debt restructuring agreement. Large groups of these smaller balance homogeneous loans are collectively evaluated for impairment. | |||||||||||||||||||||||
Loans whose terms are modified are classified as troubled debt restructurings if the Company grants such borrowers concessions and it is deemed that those borrowers are experiencing financial difficulty. Concessions granted under a troubled debt restructuring generally involve a temporary below market rate reduction in interest rate or an extension of a loan’s stated maturity date. Non-accrual troubled debt restructurings are restored to accrual status if principal and interest payments, under the modified terms, are current for six consecutive months after modification. Loans classified as troubled debt restructurings are designated as impaired. | |||||||||||||||||||||||
The following table summarizes information in regards to impaired loans by loan portfolio class as of and for the three months ended September 30, 2014: | |||||||||||||||||||||||
(Dollars in Thousands) | Recorded | Unpaid | Related | Average | Interest Income | ||||||||||||||||||
Investment | Principal | Allowance | Recorded | Recognized | |||||||||||||||||||
Balance | Investment | While Impaired | |||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||
Single-family | $ | 854 | $ | 854 | $ | — | $ | 520 | $ | 39 | |||||||||||||
Commercial | $ | 3,876 | $ | 3,876 | $ | — | $ | 3,876 | $ | 46 | |||||||||||||
With an allowance recorded: | |||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||
Single-family | $ | 191 | $ | 191 | $ | 15 | $ | 191 | $ | 1 | |||||||||||||
Commercial | $ | 3,942 | $ | 3,942 | $ | 423 | $ | 3,942 | $ | 52 | |||||||||||||
Total: | |||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||
Single-family | $ | 1,405 | $ | 1,405 | $ | 15 | $ | 711 | $ | 40 | |||||||||||||
Commercial | $ | 7,818 | $ | 7,818 | $ | 423 | $ | 7,818 | $ | 98 | |||||||||||||
The following table summarizes information in regards to impaired loans by loan portfolio class as of and for the nine months ended September 30, 2014: | |||||||||||||||||||||||
(Dollars in Thousands) | Recorded | Unpaid | Related | Average | Interest Income | ||||||||||||||||||
Investment | Principal | Allowance | Recorded | Recognized | |||||||||||||||||||
Balance | Investment | While Impaired | |||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||
Single-family | $ | 854 | $ | 854 | $ | — | $ | 409 | $ | 45 | |||||||||||||
Commercial | $ | 3,876 | $ | 3,876 | $ | — | $ | 3,876 | $ | 155 | |||||||||||||
With an allowance recorded: | |||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||
Single-family | $ | 191 | $ | 191 | $ | 15 | $ | 191 | $ | 7 | |||||||||||||
Commercial | $ | 3,942 | $ | 3,942 | $ | 423 | $ | 3,876 | $ | 135 | |||||||||||||
Total: | |||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||
Single-family | $ | 1,404 | $ | 1,405 | $ | 15 | $ | 600 | $ | 52 | |||||||||||||
Commercial | $ | 7,818 | $ | 7,818 | $ | 423 | $ | 7,752 | $ | 290 | |||||||||||||
The following table summarizes information in regards to impaired loans by loan portfolio class as of and for the three months ended September 30, 2013: | |||||||||||||||||||||||
(Dollars in Thousands) | Recorded | Unpaid | Related | Average | Interest Income | ||||||||||||||||||
Investment | Principal | Allowance | Recorded | Recognized | |||||||||||||||||||
Balance | Investment | While Impaired | |||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||
Single-family | $ | 364 | $ | 364 | $ | — | $ | 364 | $ | 4 | |||||||||||||
Commercial | $ | 3,490 | $ | 3,490 | $ | — | $ | 3,490 | $ | 48 | |||||||||||||
With an allowance recorded: | |||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||
Single-family | $ | 191 | $ | 191 | $ | 18 | $ | 191 | $ | 4 | |||||||||||||
Commercial | $ | 6,479 | $ | 6,555 | $ | 755 | $ | 6,479 | $ | 84 | |||||||||||||
Total: | |||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||
Single-family | $ | 555 | $ | 559 | $ | 18 | $ | 555 | $ | 5 | |||||||||||||
Commercial | $ | 9,969 | $ | 10,045 | $ | 755 | $ | 9,969 | $ | 132 | |||||||||||||
The following table summarizes information in regards to impaired loans by loan portfolio class as of and for the nine months ended September 30, 2013: | |||||||||||||||||||||||
(Dollars in Thousands) | Recorded | Unpaid | Related | Average | Interest Income | ||||||||||||||||||
Investment | Principal | Allowance | Recorded | Recognized | |||||||||||||||||||
Balance | Investment | While Impaired | |||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||
Single-family | $ | 364 | $ | 364 | $ | — | $ | 364 | $ | 10 | |||||||||||||
Commercial | $ | 3,490 | $ | 3,490 | $ | — | $ | 2,904 | $ | 143 | |||||||||||||
With an allowance recorded: | |||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||
Single-family | $ | 191 | $ | 191 | $ | 18 | $ | 191 | $ | 9 | |||||||||||||
Commercial | $ | 6,479 | $ | 6,555 | $ | 755 | $ | 6,479 | $ | 217 | |||||||||||||
Total: | |||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||
Single-family | $ | 555 | $ | 555 | $ | 18 | $ | 555 | $ | 19 | |||||||||||||
Commercial | $ | 9,969 | $ | 10,045 | $ | 755 | $ | 9,383 | $ | 360 | |||||||||||||
The following table summarizes information in regards to impaired loans by loan portfolio class as of and for the year ended December 31, 2013: | |||||||||||||||||||||||
(Dollars in Thousands) | Recorded | Unpaid | Related | Average | Interest | ||||||||||||||||||
Investment | Principal | Allowance | Recorded | Income | |||||||||||||||||||
Balance | Investment | Recognized | |||||||||||||||||||||
While | |||||||||||||||||||||||
Impaired | |||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||
Single-family | $ | 361 | $ | 361 | $ | — | $ | 361 | $ | 13 | |||||||||||||
Commercial | $ | 3,835 | $ | 4,263 | $ | — | $ | 3,411 | $ | 239 | |||||||||||||
With an allowance recorded: | |||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||
Single-family | $ | 191 | $ | 191 | $ | 18 | $ | 191 | $ | 12 | |||||||||||||
Commercial | $ | 5,060 | $ | 5,187 | $ | 526 | $ | 4,759 | $ | 198 | |||||||||||||
Total: | |||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||
Single-family | $ | 552 | $ | 552 | $ | 18 | $ | 552 | $ | 25 | |||||||||||||
Commercial | $ | 8,895 | $ | 9,450 | $ | 526 | $ | 8,170 | $ | 437 | |||||||||||||
There were two troubled debt restructurings during the three months ended September 30, 2014 and no troubled debt restructurings during the three months ended September 30, 2013. Both of the troubled debt restructurings were an extension of the amortization period. One of the troubled debt restructurings during the three months ended September 30, 2014 was a single-family real estate loan with a pre-modification loan amount of $464,000 and a post-modification loan amount of $500,000. The other troubled debt restructuring during the three months ended September 30, 2014 was a commercial real estate loan with a pre-modification and post-modification amount of $102,000. There were no troubled debt restructurings with a payment default, with the payment default occurring within 12 months of restructure, during the three months ended September 30, 2014 or the three months ended September 30, 2013. | |||||||||||||||||||||||
The following table summarizes information in regards to loans classified as troubled debt restructurings during the nine months ended September 30, 2014: | |||||||||||||||||||||||
(Dollars in Thousands) | Number of | Pre-Modification | Post-Modification | ||||||||||||||||||||
Contracts | Outstanding Recorded | Outstanding | |||||||||||||||||||||
Investments | Recorded | ||||||||||||||||||||||
Investments | |||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||
Single Family | 1 | $ | 464 | $ | 500 | ||||||||||||||||||
Commercial | 1 | $ | 102 | $ | 102 | ||||||||||||||||||
There were no troubled debt restructurings with a payment default, with the payment default occurring within 12 months of restructure and payment default occurring, during the nine months ended September 30, 2014. | |||||||||||||||||||||||
At September 30, 2014, the Company had twelve loans classified as performing troubled debt restructurings consisting of three single-family real estate loans which amounted to $854,000 and nine commercial real estate loans which amounted to $3.9 million. Two of the three single-family real estate loans, which amounted to $354,000 were classified as special mention in the Company’s allowance for loan losses and have no allowance against them. One of the three single family real estate loans, in the amount of $500,000 was classified as substandard and had no allowance against it. Two of the nine commercial real estate loans, in the amount of $505,000 was classified as special mention and had no allowance against it. Two of the nine commercial real estate loans, which amounted to $401,000 are classified as special mention in the Company’s allowance for loan losses and have a $5,000 allowance against them. Two of the nine commercial real estate loans, which amounted to $765,000 are classified as substandard in the Company’s allowance for loan losses and have a no allowance against them. Three of the nine commercial real estate loans, which amounted to $2.2 million are classified as substandard in the Company’s allowance for loan losses and have a $208,000 allowance against them. All such loans have been performing in accordance with their restructured terms and conditions. At September 30, 2014, the Company had one single-family real estate nonperforming loan classified as a troubled debt restructuring in the amount of $191,000. The single-family real estate loan was classified as substandard in the Company’s allowance for loan losses and had a $15,000 allowance against it. Substantially all of the troubled debt restructurings consisted of changes in interest rates and no principal was forgiven. | |||||||||||||||||||||||
The following table summarizes information in regards to loans classified as troubled debt restructurings during the nine months ended September 30, 2013: | |||||||||||||||||||||||
(Dollars in Thousands) | Number of | Pre-Modification | Post-Modification | ||||||||||||||||||||
Contracts | Outstanding Recorded | Outstanding | |||||||||||||||||||||
Investments | Recorded | ||||||||||||||||||||||
Investments | |||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||
Commercial | 2 | $ | 891 | $ | 921 | ||||||||||||||||||
There were no troubled debt restructurings with a payment default, with the payment default occurring within 12 months of restructure, and payment default occurring during the nine months ended September 30, 2013. | |||||||||||||||||||||||
At September 30, 2013, the Company had three single-family real estate loans with a carrying value of $555,000 and eleven commercial real estate loans with a carrying value of $5.8 million classified as troubled debt restructurings. Of the three single-family real estate loans, two were classified as special mention and one as substandard in the Company’s allowance for loan losses, are to two borrowers, and had a total allowance of $18,000 against them. Of the eleven commercial real estate loans, six were classified as special mention and five were classified as substandard in the Company’s allowance for loan losses. The six loans classified as special mention loans are to two borrowers and have a total allowance of $73,000 against them. The five loans classified as substandard are to five borrowers and have a total allowance of $514,000 against them. Substantially all of the troubled debt restructurings consisted of changes in interest rates and no principal was forgiven. | |||||||||||||||||||||||
The following table summarizes information in regards to troubled debt restructurings during the year ended December 31, 2013: | |||||||||||||||||||||||
(Dollars in Thousands) | Number of | Pre-Modification | Post-Modification | ||||||||||||||||||||
Contracts | Outstanding Recorded | Outstanding | |||||||||||||||||||||
Investments | Recorded | ||||||||||||||||||||||
Investments | |||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||
Commercial | 2 | $ | 891 | $ | 891 | ||||||||||||||||||
There were no troubled debt restructurings with a payment default, with the payment default occurring within 12 months of restructure, and payment default occurring during the year ended December 31, 2013. | |||||||||||||||||||||||
At December 31, 2013, the Company had eleven loans classified as performing troubled debt restructurings consisting of two single-family real estate loans which amounted to $361,000 and nine commercial real estate loans which amounted to $4.5 million. The two single-family real estate loans were classified as special mention in the Company’s allowance for loan losses and have no allowance against them. Five of the nine commercial real estate loans, which amounted to $1.5 million are classified as special mention in the Company’s allowance for loan losses and have a $57,000 allowance against them. Four of the nine commercial real estate loans, which amounted to $3.0 million are classified as substandard in the Company’s allowance for loan losses and have a $220,000 allowance against them. All such loans have been performing in accordance with their restructured terms and conditions. At December 31, 2013, the Company had one single-family real estate nonperforming loan classified as a troubled debt restructuring in the amount of $191,000. The single-family real estate loan was classified as substandard in the Company’s allowance for loan losses and had a $18,000 allowance against it. Substantially all of the troubled debt restructurings consisted of changes in interest rates and no principal was forgiven. | |||||||||||||||||||||||
StockBased_Compensation
Stock-Based Compensation | 9 Months Ended | |||||||
Sep. 30, 2014 | ||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | |||||||
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | ' | |||||||
(11) Stock-Based Compensation | ||||||||
Recognition and Retention Plan and Trust | ||||||||
In July of 2011, the shareholders of the Company approved the adoption of the 2011 Recognition and Retention Plan and Trust (the “2011 RRP”). Pursuant to the terms of the 2011 RRP, awards of up to 218,977 shares of restricted common stock may be granted to employees and directors. In order to fund the 2011 RRP, the 2011 RRP acquired 218,977 shares of the Company’s common stock in the open market for approximately $2.4 million at an average price of $11.14 per share. During 2012 and 2011, the Company made sufficient contributions to the 2011 RRP to fund the purchase of these shares. Pursuant to the terms of the 2011 RRP, no additional shares will need to be acquired. On July 20, 2011, a total of 208,200 2011 RRP awards were granted. On July 20, 2012, a total of 3,000 2011 RRP awards were granted. On December 11, 2013, a total of 7,750 2011 RRP awards were granted. The 2011 RRP shares generally vest at the rate of 20% per year over five years. | ||||||||
A summary of the status of the shares under the 2011 RRP as of September 30, 2014 and changes during the three months ended September 30, 2014 are presented below: | ||||||||
Three Months Ended September 30, 2014 | ||||||||
Weighted | ||||||||
Number of | average grant | |||||||
Shares | date fair value | |||||||
Restricted at the beginning of period | 122,890 | $ | 11.22 | |||||
Granted | — | — | ||||||
Vested | 38,180 | $ | 11.07 | |||||
Forfeited | — | — | ||||||
Restricted at the end of period | 84,710 | $ | 11.47 | |||||
A summary of the status of the shares under the 2011 RRP as of September 30, 2014 and changes during the nine months ended September 30, 2014 are presented below: | ||||||||
Nine Months Ended September 30, 2014 | ||||||||
Weighted | ||||||||
Number of | average grant | |||||||
shares | date fair value | |||||||
Restricted at the beginning of period | 135,070 | $ | 11.22 | |||||
Granted | — | — | ||||||
Vested | 50,360 | $ | 11.07 | |||||
Forfeited | — | — | ||||||
Restricted at the end of period | 84,710 | $ | 11.47 | |||||
A summary of the status of the shares under the 2011 RRP as of September 30, 2013 and changes during the three months ended September 30, 2013 are presented below: | ||||||||
Three Months Ended September 30, 2013 | ||||||||
Weighted | ||||||||
Number of | average grant | |||||||
Shares | date fair value | |||||||
Restricted at the beginning of period | 169,560 | $ | 11.08 | |||||
Granted | — | — | ||||||
Vested | 42,240 | $ | 11.07 | |||||
Forfeited | — | — | ||||||
Restricted at the end of period | 127,320 | $ | 11.08 | |||||
A summary of the status of the shares under the 2011 RRP as of September 30, 2013 and changes during the nine months ended September 30, 2013 are presented below: | ||||||||
Nine Months Ended September 30, 2013 | ||||||||
Weighted | ||||||||
Number of | average grant | |||||||
shares | date fair value | |||||||
Restricted at the beginning of period | 169,560 | $ | 11.08 | |||||
Granted | — | — | ||||||
Vested | 42,240 | $ | 11.07 | |||||
Forfeited | — | — | ||||||
Restricted at the end of period | 127,320 | $ | 11.08 | |||||
Compensation expense on 2011 RRP shares granted is recognized ratably over the five year vesting period in an amount which totals the market price of the common stock at the date of grant. During the three months ended September 30, 2014, approximately 9,993 shares were amortized to expense, based on the proportional vesting of the awarded shares, resulting in recognition of approximately $107,000 in compensation expense with a related tax benefit of $36,000. During the nine months ended September 30, 2014, approximately 40,008 shares were amortized to expense, based on the proportional and accelerated vesting of the awarded shares, resulting in recognition of approximately $429,000 in compensation expense with a related tax benefit of $146,000. Of the $429,000 in compensation expense, approximately $102,000 related to the accelerated vesting of certain awarded shares. During the three months ended September 30, 2013, approximately 10,560 shares were amortized to expense, based on the proportional vesting of the awarded shares, resulting in recognition of approximately $112,000 in compensation expense with a related tax benefit of $38,000. During the nine months ended September 30, 2013, approximately 31,680 shares were amortized to expense, based on the proportional vesting of the awarded shares, resulting in recognition of approximately $336,000 in compensation expense with a related tax benefit of $114,000. As of September 30, 2014, approximately $803,000 in additional compensation expense is scheduled to be recognized over the remaining vesting period of 2.5 years. Under the terms of the 2011 RRP, any unvested 2011 RRP awards will become fully vested upon a change in control of the Company resulting in the full recognition of any unrecognized expense. | ||||||||
Stock Options | ||||||||
In July 2011, the shareholders of the Company also approved the adoption of the 2011 Stock Option Plan (the “2011 Option Plan”). Pursuant to the 2011 Option Plan, options to acquire 325,842 shares of common stock may be granted to employees and directors. Under the 2011 Option Plan, options generally become vested and exercisable at the rate of 20% per year over five years and are generally exercisable for a period of ten years after the grant date. On July 20, 2011, July 20, 2012, and December 11, 2013 options to purchase 277,750, 9,500, and 38,500 shares of common stock were awarded, respectively. As of September 30, 2014, a total of 92 shares of common stock have been reserved for future grant pursuant to the 2011 Option Plan. | ||||||||
A summary of the status of the Company’s stock options under the 2011 Option Plan as of September 30, 2014, and changes during the three and nine months ended September 30, 2014, is presented below: | ||||||||
Three Months Ended September 30, 2014 | ||||||||
Weighted | ||||||||
Number of | average | |||||||
shares | exercise price | |||||||
Options outstanding at the beginning of period | 325,750 | $ | 11.6 | |||||
Granted | — | — | ||||||
Exercised | — | — | ||||||
Vested | — | — | ||||||
Forfeited | — | — | ||||||
Options outstanding at the end of period | 325,750 | $ | 11.6 | |||||
Exercisable at end of the period | 184,200 | $ | 11.6 | |||||
Nine Months Ended September 30, 2014 | ||||||||
Weighted | ||||||||
Number of | average | |||||||
shares | exercise price | |||||||
Options outstanding at the beginning of period | 325,750 | $ | 11.6 | |||||
Granted | — | — | ||||||
Exercised | — | — | ||||||
Vested | — | — | ||||||
Forfeited | — | — | ||||||
Options outstanding at the end of period | 325,750 | $ | 11.6 | |||||
Exercisable at end of the period | 184,200 | $ | 11.6 | |||||
The fair value of each option grant is estimated using the Black-Scholes pricing model with the following weighted average assumptions for the options granted in 2011: dividend yield of 2.0%, risk-free interest rate of 1.58%, expected life of 7.0 years, and volatility of 30.34%. The calculated fair value of options granted in 2011 was $2.99. The fair value of each option grant is estimated using the Black-Scholes pricing model with the following weighted average assumptions for the options granted in 2012: dividend yield of 2.0%, risk-free interest rate of 0.71%, expected life of 7.0 years, and volatility of 28.87%. The calculated fair value of options granted in 2012 was $3.08. The fair value of each option grant is estimated using the Black-Scholes pricing model with the following weighted average assumptions for the options granted in 2013: dividend yield of 2.0%, risk-free interest rate of 1.53%, expected life of 7.0 years, and volatility of 28.35%. The weighted average contractual term of the options was 7.75 years at September 30, 2014. | ||||||||
During the three months ended September 30, 2014, approximately $46,000 was recognized in compensation expense, with a related $16,000 tax benefit, for the 2011 Option Plan. During the nine months ended September 30, 2014, approximately $170,000 was recognized in compensation expense, with a related $58,000 tax benefit, for the 2011 Option Plan. Of the $169,000 recognized, approximately $31,000 related to the accelerated vesting of certain awards. At September 30, 2014, approximately $398,000 in additional compensation expense for awarded options remained unrecognized. The weighted average period over which this expense will be recognized is approximately 2.5 years. During the three months ended September 30, 2013, approximately $41,000 was recognized in compensation expense, with a related $14,000 tax benefit, for the 2011 Option Plan. During the nine months ended September 30, 2013, approximately $124,000 was recognized in compensation expense, with a related $42,000 tax benefit, for the 2011 Option Plan. | ||||||||
Contingent_Obligations
Contingent Obligations | 9 Months Ended |
Sep. 30, 2014 | |
Guarantees [Abstract] | ' |
Guarantees [Text Block] | ' |
(12) Contingent Obligations | |
The Company does not issue any guarantees that would require liability-recognition or disclosure, other than its standby letters of credit. The Company has issued unconditional commitments in the form of standby letters of credit to guarantee payment on behalf of a customer and guarantee the performance of a customer to a third party. Standby letters of credit generally arise in connection with lending relationships. The credit risk involved in issuing these instruments is essentially the same as that involved in extending loans to customers. Contingent obligations under standby letters of credit totaled approximately $987,000 at September 30, 2014 and $1.5 million at December 31, 2013 and represent the maximum potential future payments the Company could be required to make. The value of the contingent obligations approximates their fair value. Typically, these instruments have terms of twelve months or less and expire unused; therefore, the total amounts do not necessarily represent future cash requirements. Each customer is evaluated individually for creditworthiness under the same underwriting standards used for commitments to extend credit for on-balance sheet instruments. Company policies governing loan collateral apply to standby letters of credit at the time of credit extension. Loan-to-value ratios are generally consistent with loan-to-value requirements for other commercial loans secured by similar types of collateral. | |
Earnings_Per_Share_Tables
Earnings Per Share (Tables) | 9 Months Ended | |||||||||||||
Sep. 30, 2014 | ||||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||||
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | ' | |||||||||||||
The following table sets forth the composition of the weighted average shares (denominator) used in the basic and diluted earnings per share computations. | ||||||||||||||
For the Three Months | For the Nine Months | |||||||||||||
Ended September 30, | Ended September 30, | |||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||
Net Income | $ | 694,000 | $ | 533,000 | $ | 1,935,000 | $ | 1,387,000 | ||||||
Weighted average shares outstanding | 4,031,900 | 4,995,496 | 4,167,629 | 5,112,008 | ||||||||||
Adjusted average unearned ESOP shares | -139,951 | -153,893 | -143,437 | -157,378 | ||||||||||
Weighted average shares outstanding – basic | 3,891,949 | 4,841,603 | 4,024,192 | 4,954,630 | ||||||||||
Effect of diluted common stock equivalents | 69,267 | 33,438 | 60,243 | 16,070 | ||||||||||
Adjusted weighted average shares outstanding-diluted | 3,961,216 | 4,875,041 | 4,084,435 | 4,970,700 | ||||||||||
Basic earnings per share | $ | 0.18 | $ | 0.11 | $ | 0.48 | $ | 0.28 | ||||||
Diluted earnings per share | $ | 0.18 | $ | 0.11 | $ | 0.47 | $ | 0.28 | ||||||
Employee_Stock_Ownership_Plan_
Employee Stock Ownership Plan (Tables) | 9 Months Ended | |||||
Sep. 30, 2014 | ||||||
Employee Stock Ownership Plan [Abstract] | ' | |||||
Employee Stock Ownership Plan (ESOP) Disclosures [Table Text Block] | ' | |||||
The following table presents the components of the ESOP shares inclusive of shares purchased prior to 2007: | ||||||
September 30, 2014 | September 30, 2013 | |||||
Shares released for allocation | 207,770 | 169,370 | ||||
Unearned shares | 113,761 | 152,161 | ||||
Total ESOP shares | 321,531 | 321,531 | ||||
Retirement_Plans_Tables
Retirement Plans (Tables) | 9 Months Ended | |||||||||||||
Sep. 30, 2014 | ||||||||||||||
Compensation and Retirement Disclosure [Abstract] | ' | |||||||||||||
Schedule of Costs of Retirement Plans [Table Text Block] | ' | |||||||||||||
The Bank has a defined benefit pension plan which covers all full-time employees meeting certain eligibility requirements. As required under FASB ASC Topic 715, Compensation – Retirement Benefits, the net pension costs included the following components: | ||||||||||||||
For the Three Months | For the Nine Months | |||||||||||||
Ended September 30, | Ended September 30, | |||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||
Net Periodic Benefit Cost | ||||||||||||||
Service Cost | $ | 72,529 | $ | 72,065 | $ | 217,587 | $ | 216,195 | ||||||
Interest Cost | 80,421 | 59,165 | 241,263 | 177,495 | ||||||||||
Expected Return on Plan Assets | -143,702 | -85,962 | -431,106 | -296,886 | ||||||||||
Amortization of Prior Service Cost | 3,171 | 3,171 | 9,513 | 9,513 | ||||||||||
Amortization of Loss | 27,397 | 34,811 | 82,191 | 104,433 | ||||||||||
Net Periodic Benefit Cost | $ | 39,816 | $ | 83,250 | $ | 119,448 | $ | 210,750 | ||||||
Schedule of Defined Benefit Plans Disclosures [Table Text Block] | ' | |||||||||||||
A summary of the interim information required under FASB ASC Topic 715, Compensation – Retirement Benefits, for the Agreement is as follows: | ||||||||||||||
For the Three Months | For the Nine Months | |||||||||||||
Ended September 30, | Ended September 30, | |||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||
Net Periodic Benefit Cost | ||||||||||||||
Service Cost | $ | — | $ | 13,705 | $ | — | $ | 41,115 | ||||||
Interest Cost | 50,287 | 49,611 | 150,861 | 148,833 | ||||||||||
Amortization of Loss | 6,263 | 8,684 | 18,789 | 26,052 | ||||||||||
Net Periodic Benefit Cost | $ | 56,550 | $ | 72,000 | $ | 169,650 | $ | 216,000 | ||||||
Fair_Value_Accounting_Tables
Fair Value Accounting (Tables) | 9 Months Ended | |||||||||||||
Sep. 30, 2014 | ||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | ' | |||||||||||||
The following table summarizes investment assets measured at fair value on a recurring basis as of September 30, 2014, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value (in thousands): | ||||||||||||||
Description | Total | (Level 1) | (Level 2) | (Level 3) | ||||||||||
Prices in | Significant | Significant | ||||||||||||
Active | Other | Unobservable | ||||||||||||
Markets for | Observable | Inputs | ||||||||||||
Identical | Inputs | |||||||||||||
Assets | ||||||||||||||
Securities Available for Sale: | ||||||||||||||
Investment security obligations of FHLB | $ | 14,938 | $ | — | $ | 14,938 | $ | — | ||||||
Investment security obligations of Fannie Mae | 1,002 | — | 1,002 | — | ||||||||||
Investment security obligations of Freddie Mac | 3,967 | — | 3,967 | — | ||||||||||
Mortgaged backed security obligations of GNMA | 1,072 | — | 1,072 | — | ||||||||||
Mortgaged backed security obligations of FHLMC | 930 | — | 930 | — | ||||||||||
Mortgaged backed security obligations of FNMA | 1,454 | — | 1,454 | — | ||||||||||
Total | $ | 23,363 | $ | — | $ | 23,363 | $ | — | ||||||
The following table summarizes investment assets measured at fair value on a recurring basis as of December 31, 2013, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value (in thousands): | ||||||||||||||
Description | Total | (Level 1) | (Level 2) | (Level 3) | ||||||||||
Prices in | Significant | Significant | ||||||||||||
Active | Other | Unobservable | ||||||||||||
Markets for | Observable | Inputs | ||||||||||||
Identical | Inputs | |||||||||||||
Assets | ||||||||||||||
Securities Available for Sale: | ||||||||||||||
Investment security obligations of FHLB | $ | 11,537 | $ | — | $ | 11,537 | $ | — | ||||||
Investment security obligations of Fannie Mae | 7,789 | — | 7,789 | — | ||||||||||
Investment security obligations of Freddie Mac | 1,995 | — | 1,995 | — | ||||||||||
Mortgaged backed security obligations of GNMA | 1,189 | — | 1,189 | — | ||||||||||
Mortgaged backed security obligations of FHLMC | 1,282 | — | 1,282 | — | ||||||||||
Mortgaged backed security obligations of FNMA | 2,228 | — | 2,228 | — | ||||||||||
Total | $ | 26,020 | $ | — | $ | 26,020 | $ | — | ||||||
Fair Value Measurements, Nonrecurring [Table Text Block] | ' | |||||||||||||
Assets Recorded at Fair Value on a Nonrecurring Basis. For assets measured at fair value on a nonrecurring basis, the fair value measurements by level within the fair value hierarchy used at September 30, 2014 are as follows (in thousands): | ||||||||||||||
Description | Total | (Level 1) | (Level 2) | (Level 3) | ||||||||||
Quoted Prices in | Significant | Significant | ||||||||||||
Active Markets | Other | Unobservable | ||||||||||||
for Identical | Observable | Inputs | ||||||||||||
Assets | Inputs | |||||||||||||
Impaired loans | $ | 3,695 | $ | — | $ | — | $ | 3,695 | ||||||
Other real estate owned | 1,923 | — | — | 1,923 | ||||||||||
Total | $ | 5,618 | $ | — | $ | — | $ | 5,618 | ||||||
For assets measured at fair value on a nonrecurring basis, the fair value measurements by level within the fair value hierarchy used at December 31, 2013 are as follows (in thousands): | ||||||||||||||
Description | Total | (Level 1) | (Level 2) | (Level 3) | ||||||||||
Quoted Prices in | Significant | Significant | ||||||||||||
Active Markets | Other | Unobservable | ||||||||||||
for Identical | Observable | Inputs | ||||||||||||
Assets | Inputs | |||||||||||||
Impaired loans | $ | 5,008 | $ | — | $ | — | $ | 5,008 | ||||||
Other real estate owned | 978 | — | — | 978 | ||||||||||
Total | $ | 5,986 | $ | — | $ | — | $ | 5,986 | ||||||
Fair Value Inputs, Assets, Quantitative Information [Table Text Block] | ' | |||||||||||||
The following table presents quantitative information with regards to Level 3 fair value measurements at September 30, 2014 (in thousands); | ||||||||||||||
Description | Fair Value at | Valuation | Unobservable | Range | ||||||||||
September 30, 2014 | Technique | Input | (Weighted | |||||||||||
Average) | ||||||||||||||
Impaired loans | $ | 3,695 | Appraisal of collateral | Appraisal adjustments (1) | 0%-30% (19%) | |||||||||
Other real estate owned | 1,923 | Appraisal of collateral | Appraisal adjustments (1) | 0%-10% (8%) | ||||||||||
Total | $ | 5,618 | ||||||||||||
________________ | ||||||||||||||
-1 | Appraisals are adjusted by management for qualitative factors, including estimated liquidation expenses. The range and weighted average adjustments are presented as a percentage of the appraisal. | |||||||||||||
The following table presents quantitative information with regards to Level 3 fair value measurements at December 31, 2013 (in thousands): | ||||||||||||||
Description | Fair Value at | Valuation | Unobservable | Range | ||||||||||
December 31, | Technique | Input | (Weighted | |||||||||||
2013 | Average) | |||||||||||||
Impaired loans | $ | 5,008 | Appraisal of collateral | Appraisal adjustments (1) | 5%-30% (17%) | |||||||||
Other real estate owned | 978 | Appraisal of collateral | Appraisal adjustments (1) | 5%-10% (4%) | ||||||||||
Total | $ | 5,986 | ||||||||||||
________________ | ||||||||||||||
-1 | Appraisals are adjusted by management for qualitative factors, including estimated liquidation expenses. The range and weighted average adjustments are presented as a percentage of the appraisal. | |||||||||||||
Fair Value, by Balance Sheet Grouping [Table Text Block] | ' | |||||||||||||
The carrying amount and estimated fair values of the Company’s financial assets and liabilities were as follows. | ||||||||||||||
At September 30, 2014 | ||||||||||||||
Carrying | Level 1 | Level 2 | Level 3 | |||||||||||
Amount | Fair Value | Fair Value | Fair Value | |||||||||||
(In thousands) | ||||||||||||||
Assets: | ||||||||||||||
Cash and due from banks | $ | 1,197 | $ | 1,197 | $ | — | $ | — | ||||||
Interest bearing deposits at banks | 43,899 | 43,899 | — | — | ||||||||||
Investment securities | 47,065 | — | 47,767 | — | ||||||||||
Mortgage-backed securities | 3,456 | — | 3,456 | — | ||||||||||
Loans receivable, net, including impaired loans | 301,974 | — | — | 302,631 | ||||||||||
FHLB stock | 709 | — | 709 | — | ||||||||||
Accrued interest receivable | 1,470 | — | 1,470 | — | ||||||||||
Liabilities: | ||||||||||||||
NOW and MMDA deposits (1) | $ | 97,134 | — | $ | 97,134 | $ | — | |||||||
Other savings deposits | 52,307 | — | 52,307 | — | ||||||||||
Certificate accounts | 199,267 | — | 199,107 | — | ||||||||||
Other borrowings | 2,526 | — | 2,526 | — | ||||||||||
Accrued interest payable | 9 | — | 9 | — | ||||||||||
Off balance sheet instruments | — | — | — | — | ||||||||||
(1) Includes non-interest bearing accounts, totaling $17,193. | ||||||||||||||
At December 31, 2013 | ||||||||||||||
Carrying | Level 1 | Level 2 | Level 3 | |||||||||||
Amount | Fair Value | Fair Value | Fair Value | |||||||||||
(In thousands) | ||||||||||||||
Assets: | ||||||||||||||
Cash and due from banks | $ | 1,530 | $ | 1,530 | $ | — | $ | — | ||||||
Interest bearing deposits at banks | 43,694 | 43,694 | — | — | ||||||||||
Investment securities | 49,679 | — | 49,724 | — | ||||||||||
Mortgage-backed securities | 4,698 | — | 4,698 | — | ||||||||||
Loans receivable, net, including, impaired loans | 298,877 | — | — | 300,029 | ||||||||||
FHLB stock | 647 | — | 647 | — | ||||||||||
Accrued interest receivable | 1,465 | — | 1,465 | — | ||||||||||
Liabilities: | ||||||||||||||
NOW and MMDA deposits (1) | $ | 96,094 | $ | — | $ | 96,094 | $ | — | ||||||
Other savings deposits | 52,197 | — | 52,197 | — | ||||||||||
Certificate accounts | 197,087 | — | 196,901 | — | ||||||||||
Borrowings | 3,437 | — | 3,437 | — | ||||||||||
Accrued interest payable | 9 | — | 9 | — | ||||||||||
Off balance sheet instruments | — | — | — | — | ||||||||||
(1) Includes non-interest bearing accounts, totaling $16,409. | ||||||||||||||
Investment_and_Mortgage_Backed1
Investment and Mortgage Backed Securities (Tables) | 9 Months Ended | |||||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||||
Available-for-sale Securities and Held-to-maturity Securities [Abstract] | ' | |||||||||||||||||||
Investments Classified by Contractual Maturity Date [Table Text Block] | ' | |||||||||||||||||||
The amortized cost, gross unrealized gains and losses, and the fair values of securities available for sale and held to maturity are shown below. Where applicable, the maturity distribution and the fair value of securities, by contractual maturity, are shown. Actual maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. | ||||||||||||||||||||
September 30, 2014 | ||||||||||||||||||||
Dollars in Thousands | Amortized | Gross Unrealized | Fair | |||||||||||||||||
Available for Sale: | Cost | Gains | Losses | Value | ||||||||||||||||
Obligations of the Federal Home Loan Bank: | ||||||||||||||||||||
Due after 1 years through 5 years | $ | 6,000 | $ | 1 | $ | -18 | $ | 5,983 | ||||||||||||
Due after 5 years through 10 years | 5,000 | — | -27 | 4,973 | ||||||||||||||||
Due after 10 years | 4,000 | — | -18 | 3,982 | ||||||||||||||||
Total | $ | 15,000 | $ | 1 | $ | -63 | $ | 14,938 | ||||||||||||
September 30, 2014 | ||||||||||||||||||||
Amortized | Gross Unrealized | Fair | ||||||||||||||||||
Cost | Gains | Losses | Value | |||||||||||||||||
Obligations of Fannie Mae: | ||||||||||||||||||||
Due after 1 year through 5 years | $ | 1,000 | $ | 2 | $ | — | $ | 1,002 | ||||||||||||
Total | $ | 1,000 | $ | 2 | $ | — | $ | 1,002 | ||||||||||||
September 30, 2014 | ||||||||||||||||||||
Amortized | Gross Unrealized | Fair | ||||||||||||||||||
Cost | Gains | Losses | Value | |||||||||||||||||
Obligations of Freddie Mac: | ||||||||||||||||||||
Due after 1 years through 5 years | $ | 1,000 | $ | — | $ | — | $ | 1,000 | ||||||||||||
Due after 5 years through 10 years | 3,000 | — | -33 | 2,967 | ||||||||||||||||
Total | $ | 4,000 | $ | — | $ | -33 | $ | 3,967 | ||||||||||||
Total Investment Securities Available for Sale | $ | 20,000 | $ | 3 | $ | -96 | $ | 19,907 | ||||||||||||
September 30, 2014 | ||||||||||||||||||||
Amortized | Gross Unrealized | Fair | ||||||||||||||||||
Held to Maturity | Cost | Gains | Losses | Value | ||||||||||||||||
Municipal Obligations: | ||||||||||||||||||||
Due in 1 year or less | $ | 1,427 | $ | 1 | $ | -1 | $ | 1,427 | ||||||||||||
Due after 1 years through 5 years | 6,014 | 27 | -4 | 6,037 | ||||||||||||||||
Due after 5 years through 10 years | 7,801 | 45 | -26 | 7,820 | ||||||||||||||||
Due after 10 years | 11,916 | 657 | -7 | 12,566 | ||||||||||||||||
Total | $ | 27,158 | $ | 730 | $ | -38 | $ | 27,850 | ||||||||||||
December 31, 2013 | ||||||||||||||||||||
Amortized | Gross Unrealized | Fair | ||||||||||||||||||
Available for Sale: | Cost | Gains | Losses | Value | ||||||||||||||||
Obligations of the Federal Home Loan Bank: | ||||||||||||||||||||
Due after 1 years through 5 years | $ | 3,000 | $ | — | $ | -39 | $ | 2,961 | ||||||||||||
Due after 5 years through 10 years | 5,000 | — | -248 | 4,752 | ||||||||||||||||
Due after 10 years | 4,000 | — | -176 | 3,824 | ||||||||||||||||
Total | $ | 12,000 | $ | — | $ | -463 | $ | 11,537 | ||||||||||||
December 31, 2013 | ||||||||||||||||||||
Amortized | Gross Unrealized | Fair | ||||||||||||||||||
Cost | Gains | Losses | Value | |||||||||||||||||
Dollars in Thousands | ||||||||||||||||||||
Obligations of FHLMC: | ||||||||||||||||||||
Due after 1 year through 5 years | $ | 2,000 | $ | 2 | $ | -7 | $ | 1,995 | ||||||||||||
Total | $ | 2,000 | $ | 2 | $ | -7 | $ | 1,995 | ||||||||||||
December 31, 2013 | ||||||||||||||||||||
Amortized | Gross Unrealized | Fair | ||||||||||||||||||
Cost | Gains | Losses | Value | |||||||||||||||||
Obligations of the Fannie Mae: | ||||||||||||||||||||
Due after 1 years through 5 years | $ | 5,000 | $ | 1 | $ | -21 | $ | 4,980 | ||||||||||||
Due after 10 years | 3,000 | — | -191 | 2,809 | ||||||||||||||||
Total | $ | 8,000 | $ | 1 | $ | -212 | $ | 7,789 | ||||||||||||
Total Investment Securities Available for Sale | $ | 22,000 | $ | 3 | $ | -682 | $ | 21,321 | ||||||||||||
December 31, 2013 | ||||||||||||||||||||
Amortized | Gross Unrealized | Fair | ||||||||||||||||||
Held to Maturity | Cost | Gains | Losses | Value | ||||||||||||||||
Municipal Obligations: | ||||||||||||||||||||
Due in 1 year or less | $ | 1,435 | $ | 2 | $ | — | $ | 1,437 | ||||||||||||
Due after 1 year through 5 years | 6,228 | 32 | -12 | 6,248 | ||||||||||||||||
Due after 5 years through 10 years | 6,152 | 23 | -183 | 5,992 | ||||||||||||||||
Due after 10 years | 14,543 | 273 | $ | -90 | 14,726 | |||||||||||||||
Total | $ | 28,358 | $ | 330 | $ | -285 | $ | 28,403 | ||||||||||||
Investment Holdings, Schedule of Investments [Table Text Block] | ' | |||||||||||||||||||
The amortized cost, gross unrealized gains and losses, and the fair values of mortgage-backed securities available for sale are as follows: | ||||||||||||||||||||
September 30, 2014 | ||||||||||||||||||||
Dollars in Thousands | Amortized | Gross Unrealized | Fair | |||||||||||||||||
Cost | Gains | Losses | Value | |||||||||||||||||
GNMA pass-through certificates | $ | 1,013 | $ | 62 | $ | -3 | $ | 1,072 | ||||||||||||
FHLMC pass-through certificates | 843 | 87 | — | 930 | ||||||||||||||||
FNMA pass-through certificates | 1,381 | 73 | — | 1,454 | ||||||||||||||||
Total | $ | 3,237 | $ | 222 | $ | -3 | $ | 3,456 | ||||||||||||
December 31, 2013 | ||||||||||||||||||||
Dollars in Thousands | Amortized | Gross Unrealized | Fair | |||||||||||||||||
Cost | Gains | Losses | Value | |||||||||||||||||
GNMA pass-through certificates | $ | 1,109 | $ | 80 | $ | — | $ | 1,189 | ||||||||||||
FHLMC pass-through certificates | 1,180 | 102 | — | 1,282 | ||||||||||||||||
FNMA pass-through certificates | 2,113 | 115 | — | 2,228 | ||||||||||||||||
Total | $ | 4,402 | $ | 297 | $ | — | $ | 4,699 | ||||||||||||
Schedule of Unrealized Loss on Investments [Table Text Block] | ' | |||||||||||||||||||
The following table shows the fair value and unrealized losses on investments, aggregated by investment category and the length of time that individual securities have been in a continuous unrealized loss position. | ||||||||||||||||||||
At September 30, 2014 | ||||||||||||||||||||
Less than 12 Months | 12 Months or Longer | Total | ||||||||||||||||||
Dollars in Thousands | Fair | Gross | Fair | Gross | Fair | Gross | ||||||||||||||
Value | Unrealized | Value | Unrealized | Value | Unrealized | |||||||||||||||
Losses | Losses | Losses | ||||||||||||||||||
Securities Available for Sale | ||||||||||||||||||||
U.S. Government obligations | $ | 11,961 | $ | 39 | $ | 3,943 | $ | 57 | $ | 15,904 | $ | 96 | ||||||||
Mortgage-backed securities | 250 | 3 | — | — | 250 | 3 | ||||||||||||||
$ | 12,211 | $ | 42 | $ | 3,943 | $ | 57 | $ | 16,154 | $ | 99 | |||||||||
Securities Held to Maturity | ||||||||||||||||||||
Municipal obligations | $ | 3,875 | $ | 11 | $ | 2,984 | $ | 27 | $ | 6,859 | $ | 38 | ||||||||
At December 31, 2013 | ||||||||||||||||||||
Less than 12 Months | 12 Months or Longer | Total | ||||||||||||||||||
Dollars in Thousands | Fair | Gross | Fair | Gross | Fair | Gross | ||||||||||||||
Value | Unrealized | Value | Unrealized | Value | Unrealized | |||||||||||||||
Losses | Losses | Losses | ||||||||||||||||||
Securities Available for Sale | ||||||||||||||||||||
U.S. Government obligations | $ | 19,319 | $ | 681 | $ | — | $ | — | $ | 19,319 | $ | 681 | ||||||||
Securities Held to Maturity | ||||||||||||||||||||
Municipal obligations | $ | 10,210 | $ | 245 | $ | 427 | $ | 40 | $ | 10,637 | $ | 285 | ||||||||
Loans_Receivable_Net_Tables
Loans Receivable - Net (Tables) | 9 Months Ended | |||||||
Sep. 30, 2014 | ||||||||
Receivables [Abstract] | ' | |||||||
Schedule Of Classification Of Loans Receivable [Table Text Block] | ' | |||||||
Loans receivable consist of the following: | ||||||||
Dollars in Thousands | At September 30, | At December 31, | ||||||
2014 | 2013 | |||||||
Real estate loans: | ||||||||
Single-family | $ | 121,408 | $ | 124,223 | ||||
Multi-family | 21,193 | 22,181 | ||||||
Commercial | 124,321 | 122,814 | ||||||
Land and construction | 23,843 | 19,792 | ||||||
Commercial business | 12,345 | 10,403 | ||||||
Consumer | 3,948 | 4,495 | ||||||
Total loans receivable | 307,058 | 303,908 | ||||||
Less: | ||||||||
Deferred fees | -683 | -788 | ||||||
Allowance for loan losses | -4,401 | -4,243 | ||||||
Loans receivable - net | $ | 301,974 | $ | 298,877 | ||||
Loan_Credit_Quality_Tables
Loan Credit Quality (Tables) | 9 Months Ended | ||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||
Loan Credit Quality Abstract [Abstract] | ' | ||||||||||||||||||||||
Past Due Financing Receivables [Table Text Block] | ' | ||||||||||||||||||||||
The following table presents the classes of the loan portfolio summarized by the past due status as of September 30, 2014: | |||||||||||||||||||||||
(Dollars in thousands) | 30-59 | 60-89 | 90 or | Total | Current | Total | Loans | ||||||||||||||||
Days | Days | More | Past Due | Loans | Receivable | ||||||||||||||||||
Past Due | Past | Days | Receivable | Greater Than | |||||||||||||||||||
Due | 90 Days Past | ||||||||||||||||||||||
Due and | |||||||||||||||||||||||
Accruing | |||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||
Single-family | $ | 555 | $ | 79 | $ | 1,078 | $ | 1,712 | $ | 119,696 | $ | 121,408 | $ | 782 | |||||||||
Multi-family | — | — | — | — | 21,193 | 21,193 | — | ||||||||||||||||
Commercial | 856 | 689 | 297 | 1,842 | 122,479 | 124,321 | — | ||||||||||||||||
Land and construction | — | — | — | — | 23,843 | 23,843 | — | ||||||||||||||||
Commercial business | — | — | — | — | 12,345 | 12,345 | — | ||||||||||||||||
Consumer | 199 | 56 | 258 | 513 | 3,435 | 3,948 | 258 | ||||||||||||||||
Total | $ | 1,610 | $ | 824 | $ | 1,633 | $ | 4,067 | $ | 302,991 | $ | 307,058 | $ | 1,040 | |||||||||
The following table presents the classes of the loan portfolio summarized by the past due status as of December 31, 2013: | |||||||||||||||||||||||
(Dollars in thousands) | 30-59 | 60-89 | 90 or | Total | Current | Total | Loans | ||||||||||||||||
Days | Days | More | Past Due | Loans | Receivable | ||||||||||||||||||
Past Due | Past | Days | Receivable | Greater Than | |||||||||||||||||||
Due | 90 Days Past | ||||||||||||||||||||||
Due and | |||||||||||||||||||||||
Accruing | |||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||
Single-family | $ | 532 | $ | 159 | $ | 1,390 | $ | 2,081 | $ | 122,142 | $ | 124,223 | $ | 638 | |||||||||
Multi-family | — | — | — | — | 22,181 | 22,181 | — | ||||||||||||||||
Commercial | 455 | 198 | 744 | 1,397 | 121,417 | 122,814 | — | ||||||||||||||||
Land and construction | — | — | — | — | 19,792 | 19,792 | — | ||||||||||||||||
Commercial business | 64 | — | — | 64 | 10,339 | 10,403 | — | ||||||||||||||||
Consumer | 123 | 89 | 412 | 624 | 3,871 | 4,495 | 412 | ||||||||||||||||
Total | $ | 1,174 | $ | 446 | $ | 2,546 | $ | 4,166 | $ | 299,742 | $ | 303,908 | $ | 1,050 | |||||||||
Schedule of Financing Receivables, Non Accrual Status [Table Text Block] | ' | ||||||||||||||||||||||
The following table presents nonaccrual loans by classes of the loan portfolio as of September 30, 2014 and December 31, 2013: | |||||||||||||||||||||||
September 30, | December 31, | ||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||
Single-family | $ | 296 | $ | 752 | |||||||||||||||||||
Multi-family | — | — | |||||||||||||||||||||
Commercial | 810 | 744 | |||||||||||||||||||||
Land and construction | — | — | |||||||||||||||||||||
Commercial business | — | — | |||||||||||||||||||||
Consumer | — | — | |||||||||||||||||||||
Total non-accruing loans | $ | 1,106 | $ | 1,496 | |||||||||||||||||||
Allowance for Credit Losses on Financing Receivables [Table Text Block] | ' | ||||||||||||||||||||||
The following table presents the activity in the allowance for loan losses and related recorded investment in loans receivable by classes of the loans individually and collectively evaluated for impairment as of and for the three and nine months ended September 30, 2014: | |||||||||||||||||||||||
(Dollars in thousands) | Single | Multi | Commercial | Land and | Consumer | Commercial | Total | ||||||||||||||||
Family | Family | Real Estate | Construction | Business | |||||||||||||||||||
Real | Real | ||||||||||||||||||||||
Estate | Estate | ||||||||||||||||||||||
Allowance for loan losses for the three months ended September 30, 2014: | |||||||||||||||||||||||
Beginning balance | $ | 858 | $ | 301 | $ | 2,415 | $ | 653 | $ | 12 | $ | 226 | $ | 4,465 | |||||||||
Charge-offs | — | — | -166 | — | — | — | -166 | ||||||||||||||||
Recoveries | 2 | — | — | — | — | — | 2 | ||||||||||||||||
Provisions | — | -6 | 104 | 1 | — | 1 | 100 | ||||||||||||||||
Ending balance | $ | 860 | $ | 295 | $ | 2,353 | $ | 654 | $ | 12 | $ | 227 | $ | 4,401 | |||||||||
Allowance for loan losses for the nine months ended September 30, 2014: | |||||||||||||||||||||||
Beginning balance | $ | 833 | $ | 304 | $ | 2,259 | $ | 618 | $ | 14 | $ | 215 | $ | 4,243 | |||||||||
Charge-offs | -32 | — | -166 | — | -2 | — | -200 | ||||||||||||||||
Recoveries | 4 | — | 3 | — | 1 | — | 8 | ||||||||||||||||
Provisions | 55 | -9 | 257 | 36 | -1 | 12 | 350 | ||||||||||||||||
Ending balance | $ | 860 | $ | 295 | $ | 2,353 | $ | 654 | $ | 12 | $ | 227 | $ | 4,401 | |||||||||
Ending balance: | |||||||||||||||||||||||
individually evaluated for impairment | $ | 15 | $ | — | $ | 423 | $ | — | $ | — | $ | — | $ | 438 | |||||||||
Ending balance: | |||||||||||||||||||||||
collectively evaluated for impairment | $ | 845 | $ | 295 | $ | 1,930 | $ | 654 | $ | 12 | $ | 227 | $ | 3,963 | |||||||||
Loans receivable: | |||||||||||||||||||||||
Ending balance | $ | 121,408 | $ | 21,193 | $ | 124,321 | $ | 23,843 | $ | 12,345 | $ | 3,948 | $ | 307,058 | |||||||||
Ending balance: | |||||||||||||||||||||||
individually evaluated for impairment | $ | 1,045 | $ | — | $ | 7,818 | $ | — | $ | — | $ | — | $ | 8,863 | |||||||||
Ending balance: | |||||||||||||||||||||||
collectively evaluated for impairment | $ | 120,363 | $ | 21,193 | $ | 116,503 | $ | 23,843 | $ | 12,345 | $ | 3,948 | $ | 298,195 | |||||||||
The following table presents the activity in the allowance for loan losses and related recorded investment in loans receivable by classes of the loans individually and collectively evaluated for impairment as of and for the three and nine months ended September 30, 2013: | |||||||||||||||||||||||
(Dollars in thousands) | Single | Multi | Commercial | Land and | Consumer | Commercial | Total | ||||||||||||||||
Family | Family | Real Estate | Construction | Business | |||||||||||||||||||
Real | Real | ||||||||||||||||||||||
Estate | Estate | ||||||||||||||||||||||
Allowance for loan losses for the three months ended September 30, 2013: | |||||||||||||||||||||||
Beginning balance | $ | 953 | $ | 148 | $ | 2,395 | $ | 651 | $ | 10 | $ | 225 | $ | 4,382 | |||||||||
Charge-offs | -8 | — | -18 | — | -4 | — | -30 | ||||||||||||||||
Recoveries | — | — | — | — | 2 | — | 2 | ||||||||||||||||
Provisions | 45 | 97 | 199 | -209 | 3 | 15 | 150 | ||||||||||||||||
Ending balance | $ | 990 | $ | 245 | $ | 2,576 | $ | 442 | $ | 11 | $ | 240 | $ | 4,504 | |||||||||
Allowance for loan losses for the nine months ended September 30, 2013: | |||||||||||||||||||||||
Beginning balance | $ | 1,027 | $ | 623 | $ | 2,674 | $ | 352 | $ | 18 | $ | 225 | $ | 4,919 | |||||||||
Charge-offs | -241 | -359 | -310 | — | -6 | — | -916 | ||||||||||||||||
Recoveries | 18 | — | — | 30 | — | 3 | 51 | ||||||||||||||||
Provisions | 186 | -19 | 212 | 60 | -1 | 12 | 450 | ||||||||||||||||
Ending balance | $ | 990 | $ | 245 | $ | 2,576 | $ | 442 | $ | 11 | $ | 240 | $ | 4,504 | |||||||||
Ending balance: | |||||||||||||||||||||||
individually evaluated for impairment | $ | 18 | $ | — | $ | 755 | $ | — | $ | — | $ | — | $ | 773 | |||||||||
Ending balance: | |||||||||||||||||||||||
collectively evaluated for impairment | $ | 972 | $ | 245 | $ | 1,821 | $ | 442 | $ | 11 | $ | 240 | $ | 3,731 | |||||||||
Loans receivable: | |||||||||||||||||||||||
Ending balance | $ | 124,327 | $ | 23,253 | $ | 115,768 | $ | 13,461 | $ | 4,714 | $ | 10,590 | $ | 292,113 | |||||||||
Ending balance: | |||||||||||||||||||||||
individually evaluated for impairment | $ | 555 | $ | — | $ | 9,969 | $ | — | $ | — | $ | — | $ | 10,524 | |||||||||
Ending balance: | |||||||||||||||||||||||
collectively evaluated for impairment | $ | 123,772 | $ | 23,253 | $ | 105,799 | $ | 13,461 | $ | 4,714 | $ | 10,590 | $ | 281,589 | |||||||||
The following table presents the allowance for loan losses and related recorded investment in loans receivable by classes of the loans individually and collectively evaluated for impairment as of December 31, 2013: | |||||||||||||||||||||||
(Dollars in thousands) | Single | Multi | Commercial | Land and | Consumer | Commercial | Total | ||||||||||||||||
Family | Family | Real Estate | Construction | Business | |||||||||||||||||||
Real | Real | ||||||||||||||||||||||
Estate | Estate | ||||||||||||||||||||||
Allowance for loan losses: | |||||||||||||||||||||||
Ending balance | $ | 833 | $ | 304 | $ | 2,259 | $ | 618 | $ | 14 | $ | 215 | $ | 4,243 | |||||||||
Ending balance: | |||||||||||||||||||||||
individually evaluated for impairment | $ | 18 | $ | — | $ | 526 | $ | — | $ | — | $ | — | $ | 544 | |||||||||
Ending balance: | |||||||||||||||||||||||
collectively evaluated for impairment | $ | 815 | $ | 304 | $ | 1,733 | $ | 618 | $ | 14 | $ | 215 | $ | 3,699 | |||||||||
Loans receivable: | |||||||||||||||||||||||
Ending balance | $ | 124,223 | $ | 22,181 | $ | 122,814 | $ | 19,792 | $ | 4,495 | $ | 10,403 | $ | 303,908 | |||||||||
Ending balance: | |||||||||||||||||||||||
individually evaluated for impairment | $ | 552 | $ | — | $ | 8,895 | $ | — | $ | — | $ | — | $ | 9,447 | |||||||||
Ending balance: | |||||||||||||||||||||||
collectively evaluated for impairment | $ | 123,671 | $ | 22,181 | $ | 113,919 | $ | 19,792 | $ | 4,495 | $ | 10,403 | $ | 294,461 | |||||||||
Financing Receivable Credit Quality Indicators [Table Text Block] | ' | ||||||||||||||||||||||
The following table presents the classes of the loan portfolio summarized by the aggregate pass rating and the classified ratings of special mention, substandard and doubtful within the Company's internal risk rating system as of September 30, 2014: | |||||||||||||||||||||||
Pass | Special | Substandard | Doubtful | Total | |||||||||||||||||||
Mention | |||||||||||||||||||||||
(Dollars in thousands) | |||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||
Single-family | $ | 119,017 | $ | 715 | $ | 1,676 | $ | — | $ | 121,408 | |||||||||||||
Multi-family | 21,193 | — | — | — | 21,193 | ||||||||||||||||||
Commercial | 116,865 | 545 | 6,911 | — | 124,321 | ||||||||||||||||||
Land and construction | 23,843 | — | — | — | 23,843 | ||||||||||||||||||
Commercial business | 12,345 | — | — | — | 12,345 | ||||||||||||||||||
Consumer | 3,948 | — | — | — | 3,948 | ||||||||||||||||||
Total | $ | 297,211 | $ | 1,260 | $ | 8,587 | $ | — | $ | 307,058 | |||||||||||||
The following table presents the classes of the loan portfolio summarized by the aggregate pass rating and the classified ratings of special mention, substandard and doubtful within the Company's internal risk rating system as of December 31, 2013: | |||||||||||||||||||||||
(Dollars in thousands) | Pass | Special | Substandard | Doubtful | Total | ||||||||||||||||||
Mention | |||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||
Single-family | $ | 122,472 | $ | 361 | $ | 1,390 | $ | — | $ | 124,223 | |||||||||||||
Multi-family | 22,181 | — | — | — | 22,181 | ||||||||||||||||||
Commercial | 113,920 | 1,479 | 7,415 | — | 122,814 | ||||||||||||||||||
Land and construction | 19,792 | — | — | — | 19,792 | ||||||||||||||||||
Commercial business | 10,403 | — | — | — | 10,403 | ||||||||||||||||||
Consumer | 4,495 | — | — | — | 4,495 | ||||||||||||||||||
Total | $ | 293,263 | $ | 1,840 | $ | 8,805 | $ | — | $ | 303,908 | |||||||||||||
Impaired Financing Receivables [Table Text Block] | ' | ||||||||||||||||||||||
The following table summarizes information in regards to impaired loans by loan portfolio class as of and for the three months ended September 30, 2014: | |||||||||||||||||||||||
(Dollars in Thousands) | Recorded | Unpaid | Related | Average | Interest Income | ||||||||||||||||||
Investment | Principal | Allowance | Recorded | Recognized | |||||||||||||||||||
Balance | Investment | While Impaired | |||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||
Single-family | $ | 854 | $ | 854 | $ | — | $ | 520 | $ | 39 | |||||||||||||
Commercial | $ | 3,876 | $ | 3,876 | $ | — | $ | 3,876 | $ | 46 | |||||||||||||
With an allowance recorded: | |||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||
Single-family | $ | 191 | $ | 191 | $ | 15 | $ | 191 | $ | 1 | |||||||||||||
Commercial | $ | 3,942 | $ | 3,942 | $ | 423 | $ | 3,942 | $ | 52 | |||||||||||||
Total: | |||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||
Single-family | $ | 1,405 | $ | 1,405 | $ | 15 | $ | 711 | $ | 40 | |||||||||||||
Commercial | $ | 7,818 | $ | 7,818 | $ | 423 | $ | 7,818 | $ | 98 | |||||||||||||
The following table summarizes information in regards to impaired loans by loan portfolio class as of and for the nine months ended September 30, 2014: | |||||||||||||||||||||||
(Dollars in Thousands) | Recorded | Unpaid | Related | Average | Interest Income | ||||||||||||||||||
Investment | Principal | Allowance | Recorded | Recognized | |||||||||||||||||||
Balance | Investment | While Impaired | |||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||
Single-family | $ | 854 | $ | 854 | $ | — | $ | 409 | $ | 45 | |||||||||||||
Commercial | $ | 3,876 | $ | 3,876 | $ | — | $ | 3,876 | $ | 155 | |||||||||||||
With an allowance recorded: | |||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||
Single-family | $ | 191 | $ | 191 | $ | 15 | $ | 191 | $ | 7 | |||||||||||||
Commercial | $ | 3,942 | $ | 3,942 | $ | 423 | $ | 3,876 | $ | 135 | |||||||||||||
Total: | |||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||
Single-family | $ | 1,404 | $ | 1,405 | $ | 15 | $ | 600 | $ | 52 | |||||||||||||
Commercial | $ | 7,818 | $ | 7,818 | $ | 423 | $ | 7,752 | $ | 290 | |||||||||||||
The following table summarizes information in regards to impaired loans by loan portfolio class as of and for the three months ended September 30, 2013: | |||||||||||||||||||||||
(Dollars in Thousands) | Recorded | Unpaid | Related | Average | Interest Income | ||||||||||||||||||
Investment | Principal | Allowance | Recorded | Recognized | |||||||||||||||||||
Balance | Investment | While Impaired | |||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||
Single-family | $ | 364 | $ | 364 | $ | — | $ | 364 | $ | 4 | |||||||||||||
Commercial | $ | 3,490 | $ | 3,490 | $ | — | $ | 3,490 | $ | 48 | |||||||||||||
With an allowance recorded: | |||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||
Single-family | $ | 191 | $ | 191 | $ | 18 | $ | 191 | $ | 4 | |||||||||||||
Commercial | $ | 6,479 | $ | 6,555 | $ | 755 | $ | 6,479 | $ | 84 | |||||||||||||
Total: | |||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||
Single-family | $ | 555 | $ | 559 | $ | 18 | $ | 555 | $ | 5 | |||||||||||||
Commercial | $ | 9,969 | $ | 10,045 | $ | 755 | $ | 9,969 | $ | 132 | |||||||||||||
The following table summarizes information in regards to impaired loans by loan portfolio class as of and for the nine months ended September 30, 2013: | |||||||||||||||||||||||
(Dollars in Thousands) | Recorded | Unpaid | Related | Average | Interest Income | ||||||||||||||||||
Investment | Principal | Allowance | Recorded | Recognized | |||||||||||||||||||
Balance | Investment | While Impaired | |||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||
Single-family | $ | 364 | $ | 364 | $ | — | $ | 364 | $ | 10 | |||||||||||||
Commercial | $ | 3,490 | $ | 3,490 | $ | — | $ | 2,904 | $ | 143 | |||||||||||||
With an allowance recorded: | |||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||
Single-family | $ | 191 | $ | 191 | $ | 18 | $ | 191 | $ | 9 | |||||||||||||
Commercial | $ | 6,479 | $ | 6,555 | $ | 755 | $ | 6,479 | $ | 217 | |||||||||||||
Total: | |||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||
Single-family | $ | 555 | $ | 555 | $ | 18 | $ | 555 | $ | 19 | |||||||||||||
Commercial | $ | 9,969 | $ | 10,045 | $ | 755 | $ | 9,383 | $ | 360 | |||||||||||||
The following table summarizes information in regards to impaired loans by loan portfolio class as of and for the year ended December 31, 2013: | |||||||||||||||||||||||
(Dollars in Thousands) | Recorded | Unpaid | Related | Average | Interest | ||||||||||||||||||
Investment | Principal | Allowance | Recorded | Income | |||||||||||||||||||
Balance | Investment | Recognized | |||||||||||||||||||||
While | |||||||||||||||||||||||
Impaired | |||||||||||||||||||||||
With no related allowance recorded: | |||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||
Single-family | $ | 361 | $ | 361 | $ | — | $ | 361 | $ | 13 | |||||||||||||
Commercial | $ | 3,835 | $ | 4,263 | $ | — | $ | 3,411 | $ | 239 | |||||||||||||
With an allowance recorded: | |||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||
Single-family | $ | 191 | $ | 191 | $ | 18 | $ | 191 | $ | 12 | |||||||||||||
Commercial | $ | 5,060 | $ | 5,187 | $ | 526 | $ | 4,759 | $ | 198 | |||||||||||||
Total: | |||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||
Single-family | $ | 552 | $ | 552 | $ | 18 | $ | 552 | $ | 25 | |||||||||||||
Commercial | $ | 8,895 | $ | 9,450 | $ | 526 | $ | 8,170 | $ | 437 | |||||||||||||
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | ' | ||||||||||||||||||||||
The following table summarizes information in regards to loans classified as troubled debt restructurings during the nine months ended September 30, 2014: | |||||||||||||||||||||||
(Dollars in Thousands) | Number of | Pre-Modification | Post-Modification | ||||||||||||||||||||
Contracts | Outstanding Recorded | Outstanding | |||||||||||||||||||||
Investments | Recorded | ||||||||||||||||||||||
Investments | |||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||
Single Family | 1 | $ | 464 | $ | 500 | ||||||||||||||||||
Commercial | 1 | $ | 102 | $ | 102 | ||||||||||||||||||
The following table summarizes information in regards to loans classified as troubled debt restructurings during the nine months ended September 30, 2013: | |||||||||||||||||||||||
(Dollars in Thousands) | Number of | Pre-Modification | Post-Modification | ||||||||||||||||||||
Contracts | Outstanding Recorded | Outstanding | |||||||||||||||||||||
Investments | Recorded | ||||||||||||||||||||||
Investments | |||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||
Commercial | 2 | $ | 891 | $ | 921 | ||||||||||||||||||
The following table summarizes information in regards to troubled debt restructurings during the year ended December 31, 2013: | |||||||||||||||||||||||
(Dollars in Thousands) | Number of | Pre-Modification | Post-Modification | ||||||||||||||||||||
Contracts | Outstanding Recorded | Outstanding | |||||||||||||||||||||
Investments | Recorded | ||||||||||||||||||||||
Investments | |||||||||||||||||||||||
Real estate: | |||||||||||||||||||||||
Commercial | 2 | $ | 891 | $ | 891 | ||||||||||||||||||
StockBased_Compensation_Tables
Stock-Based Compensation (Tables) | 9 Months Ended | |||||||
Sep. 30, 2014 | ||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | |||||||
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block] | ' | |||||||
A summary of the status of the shares under the 2011 RRP as of September 30, 2014 and changes during the three months ended September 30, 2014 are presented below: | ||||||||
Three Months Ended September 30, 2014 | ||||||||
Weighted | ||||||||
Number of | average grant | |||||||
Shares | date fair value | |||||||
Restricted at the beginning of period | 122,890 | $ | 11.22 | |||||
Granted | — | — | ||||||
Vested | 38,180 | $ | 11.07 | |||||
Forfeited | — | — | ||||||
Restricted at the end of period | 84,710 | $ | 11.47 | |||||
A summary of the status of the shares under the 2011 RRP as of September 30, 2014 and changes during the nine months ended September 30, 2014 are presented below: | ||||||||
Nine Months Ended September 30, 2014 | ||||||||
Weighted | ||||||||
Number of | average grant | |||||||
shares | date fair value | |||||||
Restricted at the beginning of period | 135,070 | $ | 11.22 | |||||
Granted | — | — | ||||||
Vested | 50,360 | $ | 11.07 | |||||
Forfeited | — | — | ||||||
Restricted at the end of period | 84,710 | $ | 11.47 | |||||
A summary of the status of the shares under the 2011 RRP as of September 30, 2013 and changes during the three months ended September 30, 2013 are presented below: | ||||||||
Three Months Ended September 30, 2013 | ||||||||
Weighted | ||||||||
Number of | average grant | |||||||
Shares | date fair value | |||||||
Restricted at the beginning of period | 169,560 | $ | 11.08 | |||||
Granted | — | — | ||||||
Vested | 42,240 | $ | 11.07 | |||||
Forfeited | — | — | ||||||
Restricted at the end of period | 127,320 | $ | 11.08 | |||||
A summary of the status of the shares under the 2011 RRP as of September 30, 2013 and changes during the nine months ended September 30, 2013 are presented below: | ||||||||
Nine Months Ended September 30, 2013 | ||||||||
Weighted | ||||||||
Number of | average grant | |||||||
shares | date fair value | |||||||
Restricted at the beginning of period | 169,560 | $ | 11.08 | |||||
Granted | — | — | ||||||
Vested | 42,240 | $ | 11.07 | |||||
Forfeited | — | — | ||||||
Restricted at the end of period | 127,320 | $ | 11.08 | |||||
Schedule Of Share Based Compensation Stock Options Activity [Table Text Block] | ' | |||||||
A summary of the status of the Company’s stock options under the 2011 Option Plan as of September 30, 2014, and changes during the three and nine months ended September 30, 2014, is presented below: | ||||||||
Three Months Ended September 30, 2014 | ||||||||
Weighted | ||||||||
Number of | average | |||||||
shares | exercise price | |||||||
Options outstanding at the beginning of period | 325,750 | $ | 11.6 | |||||
Granted | — | — | ||||||
Exercised | — | — | ||||||
Vested | — | — | ||||||
Forfeited | — | — | ||||||
Options outstanding at the end of period | 325,750 | $ | 11.6 | |||||
Exercisable at end of the period | 184,200 | $ | 11.6 | |||||
Nine Months Ended September 30, 2014 | ||||||||
Weighted | ||||||||
Number of | average | |||||||
shares | exercise price | |||||||
Options outstanding at the beginning of period | 325,750 | $ | 11.6 | |||||
Granted | — | — | ||||||
Exercised | — | — | ||||||
Vested | — | — | ||||||
Forfeited | — | — | ||||||
Options outstanding at the end of period | 325,750 | $ | 11.6 | |||||
Exercisable at end of the period | 184,200 | $ | 11.6 | |||||
Organization_and_Basis_of_Pres1
Organization and Basis of Presentation (Details Textual) (USD $) | 1 Months Ended | ||
In Millions, except Share data, unless otherwise specified | Jan. 18, 2011 | Sep. 30, 2014 | Dec. 31, 2013 |
Organizational Structure And Nature Of Operations [Line Items] | ' | ' | ' |
Common Stock, Shares Subscribed but Unissued (in shares) | 3,258,475 | ' | ' |
Common stock, par value (in dollars per share) | $0.01 | $0.01 | $0.01 |
Stock Offerings Price Per Share (in dollar per share) | $10 | ' | ' |
Proceeds from Issuance or Sale of Equity | $32.60 | ' | ' |
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in shares) | 2,215,962 | ' | ' |
Business Acquisition Equity Interests Conversion Basis | 0.82 | ' | ' |
Treasury Stock, Shares, Retired (in shares) | 548,524 | ' | ' |
Employee Stock Ownership Plan (ESOP) Plan Member [Member] | ' | ' | ' |
Organizational Structure And Nature Of Operations [Line Items] | ' | ' | ' |
Employee Stock Ownership Plan (ESOP), Debt Structure, Direct Loan, Employer Cash Payments Used for Debt Service | $1.90 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Shares Purchased for Award (in shares) | 50,991 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Other Share Increase (Decrease) | 100,000 | ' | ' |
Earnings_Per_Share_Details
Earnings Per Share (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Earnings Per Share [Line Items] | ' | ' | ' | ' |
Net Income | $694 | $533 | $1,935 | $1,387 |
Weighted average shares outstanding | 4,031,900 | 4,995,496 | 4,167,629 | 5,112,008 |
Adjusted average unearned ESOP shares | -139,951 | -153,893 | -143,437 | -157,378 |
Weighted average shares outstanding - basic | 3,891,949 | 4,841,603 | 4,024,192 | 4,954,630 |
Effect of diluted common stock equivalents | 69,267 | 33,438 | 60,243 | 16,070 |
Adjusted weighted average shares outstanding-diluted | 3,961,216 | 4,875,041 | 4,084,435 | 4,970,700 |
Basic earnings per share (in dollars per share) | $0.18 | $0.11 | $0.48 | $0.28 |
Dilutive earnings per share (in dollars per share) | $0.18 | $0.11 | $0.47 | $0.28 |
Earnings_Per_Share_Details_Tex
Earnings Per Share (Details Textual) | 9 Months Ended | |
Sep. 30, 2014 | Sep. 30, 2013 | |
Earnings Per Share [Line Items] | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 38,500 | 9,500 |
Employee_Stock_Ownership_Plan_1
Employee Stock Ownership Plan (Details) | Sep. 30, 2014 | Sep. 30, 2013 |
Shares released for allocation | 207,770 | 169,370 |
Unearned shares | 113,761 | 152,161 |
Total ESOP shares | 321,531 | 321,531 |
Employee_Stock_Ownership_Plan_2
Employee Stock Ownership Plan (Details Textual) (USD $) | 1 Months Ended | 0 Months Ended | 3 Months Ended | 9 Months Ended | ||
Jan. 18, 2011 | Jan. 30, 2007 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | |
Stock Issued During Period, Shares, Employee Stock Ownership Plan | 150,991 | 74,073 | ' | ' | ' | ' |
Employee Stock Ownership Plan (ESOP), Compensation Expense | ' | ' | $38,000 | $38,000 | $115,000 | $115,000 |
Payment Of Principal and Interest Term | '20 years | '8 years | ' | ' | ' | ' |
Employee Stock Ownership Plan Interest Rate | 3.25% | 8.25% | ' | ' | ' | ' |
Retirement_Plans_Details
Retirement Plans (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | |
Net Periodic Benefit Cost | ' | ' | ' | ' |
Service Cost | $72,529 | $72,065 | $217,587 | $216,195 |
Interest Cost | 80,421 | 59,165 | 241,263 | 177,495 |
Expected Return on Plan Assets | -143,702 | -85,962 | -431,106 | -296,886 |
Amortization of Prior Service Cost | 3,171 | 3,171 | 9,513 | 9,513 |
Amortization of Loss | 27,397 | 34,811 | 82,191 | 104,433 |
Net Periodic Benefit Cost | $39,816 | $83,250 | $119,448 | $210,750 |
Retirement_Plans_Details_1
Retirement Plans (Details 1) (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | |
Net Periodic Benefit Cost | ' | ' | ' | ' |
Service Cost | $72,529 | $72,065 | $217,587 | $216,195 |
Interest Cost | 80,421 | 59,165 | 241,263 | 177,495 |
Amortization of loss | 27,397 | 34,811 | 82,191 | 104,433 |
Net Periodic Benefit Cost | 39,816 | 83,250 | 119,448 | 210,750 |
Supplemental Employee Retirement Plan, Defined Benefit [Member] | ' | ' | ' | ' |
Net Periodic Benefit Cost | ' | ' | ' | ' |
Service Cost | 0 | 13,705 | 0 | 41,115 |
Interest Cost | 50,287 | 49,611 | 150,861 | 148,833 |
Amortization of loss | 6,263 | 8,684 | 18,789 | 26,052 |
Net Periodic Benefit Cost | $56,550 | $72,000 | $169,650 | $216,000 |
Fair_Value_Accounting_Details
Fair Value Accounting (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Securities Available For Sale | ' | ' |
Assets, Fair Value Disclosure, Recurring | $23,363 | $26,020 |
Investment Security obligations of FHLB | ' | ' |
Securities Available For Sale | ' | ' |
Assets, Fair Value Disclosure, Recurring | 14,938 | 11,537 |
Investment Security obligations of Fannie Mae | ' | ' |
Securities Available For Sale | ' | ' |
Assets, Fair Value Disclosure, Recurring | 1,002 | 7,789 |
Investment Security obligations of Freddie Mac | ' | ' |
Securities Available For Sale | ' | ' |
Assets, Fair Value Disclosure, Recurring | 3,967 | 1,995 |
Mortgaged Backed Security obligations of GNMA | ' | ' |
Securities Available For Sale | ' | ' |
Assets, Fair Value Disclosure, Recurring | 1,072 | 1,189 |
Mortgaged Backed security obligations of FHLMC | ' | ' |
Securities Available For Sale | ' | ' |
Assets, Fair Value Disclosure, Recurring | 930 | 1,282 |
Mortgaged Backed Security obligations of FNMA | ' | ' |
Securities Available For Sale | ' | ' |
Assets, Fair Value Disclosure, Recurring | 1,454 | 2,228 |
Fair Value, Inputs, Level 1 [Member] | ' | ' |
Securities Available For Sale | ' | ' |
Assets, Fair Value Disclosure, Recurring | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Investment Security obligations of FHLB | ' | ' |
Securities Available For Sale | ' | ' |
Assets, Fair Value Disclosure, Recurring | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Investment Security obligations of Fannie Mae | ' | ' |
Securities Available For Sale | ' | ' |
Assets, Fair Value Disclosure, Recurring | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Investment Security obligations of Freddie Mac | ' | ' |
Securities Available For Sale | ' | ' |
Assets, Fair Value Disclosure, Recurring | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Mortgaged Backed Security obligations of GNMA | ' | ' |
Securities Available For Sale | ' | ' |
Assets, Fair Value Disclosure, Recurring | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Mortgaged Backed security obligations of FHLMC | ' | ' |
Securities Available For Sale | ' | ' |
Assets, Fair Value Disclosure, Recurring | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Mortgaged Backed Security obligations of FNMA | ' | ' |
Securities Available For Sale | ' | ' |
Assets, Fair Value Disclosure, Recurring | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ' | ' |
Securities Available For Sale | ' | ' |
Assets, Fair Value Disclosure, Recurring | 23,363 | 26,020 |
Fair Value, Inputs, Level 2 [Member] | Investment Security obligations of FHLB | ' | ' |
Securities Available For Sale | ' | ' |
Assets, Fair Value Disclosure, Recurring | 14,938 | 11,537 |
Fair Value, Inputs, Level 2 [Member] | Investment Security obligations of Fannie Mae | ' | ' |
Securities Available For Sale | ' | ' |
Assets, Fair Value Disclosure, Recurring | 1,002 | 7,789 |
Fair Value, Inputs, Level 2 [Member] | Investment Security obligations of Freddie Mac | ' | ' |
Securities Available For Sale | ' | ' |
Assets, Fair Value Disclosure, Recurring | 3,967 | 1,995 |
Fair Value, Inputs, Level 2 [Member] | Mortgaged Backed Security obligations of GNMA | ' | ' |
Securities Available For Sale | ' | ' |
Assets, Fair Value Disclosure, Recurring | 1,072 | 1,189 |
Fair Value, Inputs, Level 2 [Member] | Mortgaged Backed security obligations of FHLMC | ' | ' |
Securities Available For Sale | ' | ' |
Assets, Fair Value Disclosure, Recurring | 930 | 1,282 |
Fair Value, Inputs, Level 2 [Member] | Mortgaged Backed Security obligations of FNMA | ' | ' |
Securities Available For Sale | ' | ' |
Assets, Fair Value Disclosure, Recurring | 1,454 | 2,228 |
Fair Value, Inputs, Level 3 [Member] | ' | ' |
Securities Available For Sale | ' | ' |
Assets, Fair Value Disclosure, Recurring | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Investment Security obligations of FHLB | ' | ' |
Securities Available For Sale | ' | ' |
Assets, Fair Value Disclosure, Recurring | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Investment Security obligations of Fannie Mae | ' | ' |
Securities Available For Sale | ' | ' |
Assets, Fair Value Disclosure, Recurring | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Investment Security obligations of Freddie Mac | ' | ' |
Securities Available For Sale | ' | ' |
Assets, Fair Value Disclosure, Recurring | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Mortgaged Backed Security obligations of GNMA | ' | ' |
Securities Available For Sale | ' | ' |
Assets, Fair Value Disclosure, Recurring | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Mortgaged Backed security obligations of FHLMC | ' | ' |
Securities Available For Sale | ' | ' |
Assets, Fair Value Disclosure, Recurring | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Mortgaged Backed Security obligations of FNMA | ' | ' |
Securities Available For Sale | ' | ' |
Assets, Fair Value Disclosure, Recurring | $0 | $0 |
Fair_Value_Accounting_Details_
Fair Value Accounting (Details 1) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' |
Total | $5,618 | $5,986 |
Fair Value, Measurements, Nonrecurring [Member] | ' | ' |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' |
Impaired loans | 3,695 | 5,008 |
Other real estate owned | 1,923 | 978 |
Total | 5,618 | 5,986 |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ' | ' |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' |
Impaired loans | 0 | 0 |
Other real estate owned | 0 | 0 |
Total | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ' | ' |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' |
Impaired loans | 0 | 0 |
Other real estate owned | 0 | 0 |
Total | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ' | ' |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' |
Impaired loans | 3,695 | 5,008 |
Other real estate owned | 1,923 | 978 |
Total | $5,618 | $5,986 |
Fair_Value_Accounting_Details_1
Fair Value Accounting (Details 2) (USD $) | 9 Months Ended | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Dec. 31, 2013 | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' | ||
Total | $5,618 | $5,986 | ||
Impaired Loan [Member] | ' | ' | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' | ||
Impaired loans | 3,695 | 5,008 | ||
Fair Value Measurements, Valuation Techniques | 'Appraisal of collateral | 'Appraisal of collateral | ||
Fair Value Measurements, Unobservable Inputs | 'Appraisal adjustments | [1] | 'Appraisal adjustments | [1] |
Fair Value Assumptions, Weighted Average | 19.00% | 17.00% | ||
Impaired Loan [Member] | Maximum [Member] | ' | ' | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' | ||
Fair Value Assumptions, Weighted Average | 30.00% | 30.00% | ||
Impaired Loan [Member] | Minimum [Member] | ' | ' | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' | ||
Fair Value Assumptions, Weighted Average | 0.00% | 5.00% | ||
Other Real Estate Owned [Member] | ' | ' | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' | ||
Other real estate owned | $1,923 | $978 | ||
Fair Value Measurements, Valuation Techniques | 'Appraisal of collateral | 'Appraisal of collateral | ||
Fair Value Measurements, Unobservable Inputs | 'Appraisal adjustments | [1] | 'Appraisal adjustments | [1] |
Fair Value Assumptions, Weighted Average | 8.00% | 4.00% | ||
Other Real Estate Owned [Member] | Maximum [Member] | ' | ' | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' | ||
Fair Value Assumptions, Weighted Average | 10.00% | 10.00% | ||
Other Real Estate Owned [Member] | Minimum [Member] | ' | ' | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' | ||
Fair Value Assumptions, Weighted Average | 0.00% | 5.00% | ||
[1] | Appraisals are adjusted by management for qualitative factors, including estimated liquidation expenses. The range and weighted average adjustments are presented as a percentage of the appraisal. |
Fair_Value_Accounting_Details_2
Fair Value Accounting (Details 3) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | ||
In Thousands, unless otherwise specified | ||||
Assets: | ' | ' | ||
Cash and due from banks | $1,197 | $1,530 | ||
Interest bearing deposits at banks | 43,899 | 43,694 | ||
Investment securities | 47,065 | 49,679 | ||
Mortgage-backed securities | 3,456 | 4,699 | ||
Loans receivable, net, including impaired loans | 301,974 | 298,877 | ||
FHLB stock | 709 | 647 | ||
Accrued interest receivable | 1,470 | 1,465 | ||
Liabilities: | ' | ' | ||
NOW and MMDA deposits | 97,134 | [1] | 96,094 | [2] |
Other savings deposits | 52,307 | 52,197 | ||
Certificate accounts | 199,267 | 197,087 | ||
Other borrowings | 2,526 | 3,437 | ||
Accrued interest payable | 9 | 9 | ||
Off balance sheet instruments | 0 | 0 | ||
Fair Value, Inputs, Level 1 [Member] | ' | ' | ||
Assets: | ' | ' | ||
Cash and due from banks | 1,197 | 1,530 | ||
Interest bearing deposits at banks | 43,899 | 43,694 | ||
Investment securities | 0 | 0 | ||
Mortgage-backed securities | 0 | 0 | ||
Loans receivable, net, including impaired loans | 0 | 0 | ||
FHLB stock | 0 | 0 | ||
Accrued interest receivable | 0 | 0 | ||
Liabilities: | ' | ' | ||
NOW and MMDA deposits | 0 | [1] | 0 | [2] |
Other savings deposits | 0 | 0 | ||
Certificate accounts | 0 | 0 | ||
Other borrowings | 0 | 0 | ||
Accrued interest payable | 0 | 0 | ||
Off balance sheet instruments | 0 | 0 | ||
Fair Value, Inputs, Level 2 [Member] | ' | ' | ||
Assets: | ' | ' | ||
Cash and due from banks | 0 | 0 | ||
Interest bearing deposits at banks | 0 | 0 | ||
Investment securities | 47,767 | 49,724 | ||
Mortgage-backed securities | 3,456 | 4,698 | ||
Loans receivable, net, including impaired loans | 0 | 0 | ||
FHLB stock | 709 | 647 | ||
Accrued interest receivable | 1,470 | 1,465 | ||
Liabilities: | ' | ' | ||
NOW and MMDA deposits | 97,134 | [1] | 96,094 | [2] |
Other savings deposits | 52,307 | 52,197 | ||
Certificate accounts | 199,107 | 196,901 | ||
Other borrowings | 2,526 | 3,437 | ||
Accrued interest payable | 9 | 9 | ||
Off balance sheet instruments | 0 | 0 | ||
Fair Value, Inputs, Level 3 [Member] | ' | ' | ||
Assets: | ' | ' | ||
Cash and due from banks | 0 | 0 | ||
Interest bearing deposits at banks | 0 | 0 | ||
Investment securities | 0 | 0 | ||
Mortgage-backed securities | 0 | 0 | ||
Loans receivable, net, including impaired loans | 302,631 | 300,029 | ||
FHLB stock | 0 | 0 | ||
Accrued interest receivable | 0 | 0 | ||
Liabilities: | ' | ' | ||
NOW and MMDA deposits | 0 | [1] | 0 | [2] |
Other savings deposits | 0 | 0 | ||
Certificate accounts | 0 | 0 | ||
Other borrowings | 0 | 0 | ||
Accrued interest payable | 0 | 0 | ||
Off balance sheet instruments | $0 | $0 | ||
[1] | Includes non-interest bearing accounts, totaling $17,193. | |||
[2] | Includes non-interest bearing accounts, totaling $16,409. |
Fair_Value_Accounting_Details_3
Fair Value Accounting (Details Textual) (USD $) | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' | ' |
Loan Receivable Net Of Allowances At Fair Value | $4,100,000 | $5,300,000 | ' |
Non-interest bearing deposits | 17,193,000 | 16,409,000 | ' |
Other Real Estate, Total | 2,200,000 | 1,100,000 | ' |
Other Real Estate, Valuation Adjustments | 248,000 | 155,000 | ' |
Impaired Financing Receivable, Recorded Investment, Total | 0 | 728,000 | ' |
Impaired Loans Net Of Partial Charge Offs | 0 | 428,000 | ' |
Impairment Evaluated As Group | $438,000 | $544,000 | $773,000 |
Investment_and_Mortgage_Backed2
Investment and Mortgage Backed Securities (Details) (USD $) | 9 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Dec. 31, 2013 |
Schedule of Available For Sale And Held To Maturity Securities [Line Items] | ' | ' |
Total - Fair value | $27,850 | $28,402 |
Available-for-sale Securities [Member] | ' | ' |
Schedule of Available For Sale And Held To Maturity Securities [Line Items] | ' | ' |
Total Amortized Cost | 20,000 | 22,000 |
Total-Gross Unrealized Gains | 3 | 3 |
Total-Gross Unrealized Losses | -96 | -682 |
Total-Fair Value | 19,907 | 21,321 |
Federal Home Loan Bank Certificates and Obligations (FHLB) [Member] | Available-for-sale Securities [Member] | ' | ' |
Schedule of Available For Sale And Held To Maturity Securities [Line Items] | ' | ' |
Due after 1 year through 5 years-Amortized Cost | 6,000 | 3,000 |
Due after 5 years through 10 years-Amortized Cost | 5,000 | 5,000 |
Due after 10 years-Amortized Cost | 4,000 | 4,000 |
Total Amortized Cost | 15,000 | 12,000 |
Due after 1 year through 5 years-Gross Unrealized Gain | 1 | 0 |
Due after 5 years through 10 years-Gross Unrealized Gain | 0 | 0 |
Due after 10 years-Gross Unrealized Gain | 0 | 0 |
Total-Gross Unrealized Gains | 1 | 0 |
Due after 1 year through 5 years-Gross Unrealized Losses | -18 | -39 |
Due after 5 years through 10 years-Gross Unrealized Losses | -27 | -248 |
Due after 10 years-Unrealized losses | -18 | -176 |
Total-Gross Unrealized Losses | -63 | -463 |
Due after 1 year through 5 years-Fair Value | 5,983 | 2,961 |
Due after 5 years through 10 years-Fair Value | 4,973 | 4,752 |
Due after 10 years-Fair Value | 3,982 | 3,824 |
Total-Fair Value | 14,938 | 11,537 |
Investment Security Obligations Of Fannie Mae [Member] | Available-for-sale Securities [Member] | ' | ' |
Schedule of Available For Sale And Held To Maturity Securities [Line Items] | ' | ' |
Due after 1 year through 5 years-Amortized Cost | 1,000 | 5,000 |
Due after 10 years-Amortized Cost | ' | 3,000 |
Total Amortized Cost | 1,000 | 8,000 |
Due after 1 year through 5 years-Gross Unrealized Gain | 2 | 1 |
Due after 10 years-Gross Unrealized Gain | ' | 0 |
Total-Gross Unrealized Gains | 2 | 1 |
Due after 1 year through 5 years-Gross Unrealized Losses | 0 | -21 |
Due after 10 years-Unrealized losses | ' | -191 |
Total-Gross Unrealized Losses | 0 | -212 |
Due after 1 year through 5 years-Fair Value | 1,002 | 4,980 |
Due after 10 years-Fair Value | ' | 2,809 |
Total-Fair Value | 1,002 | 7,789 |
Investments Security Obligations Of Freddie Mac [Member] | Available-for-sale Securities [Member] | ' | ' |
Schedule of Available For Sale And Held To Maturity Securities [Line Items] | ' | ' |
Due after 1 year through 5 years-Amortized Cost | 1,000 | ' |
Due after 5 years through 10 years-Amortized Cost | 3,000 | ' |
Total Amortized Cost | 4,000 | ' |
Due after 1 year through 5 years-Gross Unrealized Gain | 0 | ' |
Due after 5 years through 10 years-Gross Unrealized Gain | 0 | ' |
Total-Gross Unrealized Gains | 0 | ' |
Due after 1 year through 5 years-Gross Unrealized Losses | 0 | ' |
Due after 5 years through 10 years-Gross Unrealized Losses | -33 | ' |
Total-Gross Unrealized Losses | -33 | ' |
Due after 1 year through 5 years-Fair Value | 1,000 | ' |
Due after 5 years through 10 years-Fair Value | 2,967 | ' |
Total-Fair Value | 3,967 | ' |
Municipal obligations [Member] | Held-to-maturity Securities [Member] | ' | ' |
Schedule of Available For Sale And Held To Maturity Securities [Line Items] | ' | ' |
Due in 1 year or less-Amortized Cost | 1,427 | 1,435 |
Due after 1 years through 5 years-Amortized Cost | 6,014 | 6,228 |
Due after 5 years through 10 years-Amortized Cost | 7,801 | 6,152 |
Due after 10 years-Amortized Cost | 11,916 | 14,543 |
Total-Amortized Cost | 27,158 | 28,358 |
Due in 1 year or less-Gross Unrealized Gains | 1 | 2 |
Due after 1 years through 5 years-Gross Unrealized Gains | 27 | 32 |
Due after 5 years through 10 years-Gross Unrealized Gains | 45 | 23 |
Due after 10 years-Gross Unrealized Gains | 657 | 273 |
Total-Gross Unrealized Gains | 730 | 330 |
Due in 1 year or less-Gross Unrealized Losses | -1 | 0 |
Due after 1 years through 5 years-Gross Unrealized Losses | -4 | -12 |
Due after 5 years through 10 years-Gross Unrealized Losses | -26 | -183 |
Due after 10 years-Gross Unrealized Losses | -7 | -90 |
Total-Gross Unrealized Losses | -38 | -285 |
Due in 1 year or less-Fair Value | 1,427 | 1,437 |
Due after 1 years through 5 years-Fair Value | 6,037 | 6,248 |
Due after 5 years through 10 years-Fair Value | 7,820 | 5,992 |
Due after 10 years-Fair Value | 12,566 | 14,726 |
Total - Fair value | 27,850 | 28,403 |
Federal Home Loan Mortgage Corporation Certificates and Obligations (FHLMC) [Member] | Available-for-sale Securities [Member] | ' | ' |
Schedule of Available For Sale And Held To Maturity Securities [Line Items] | ' | ' |
Due after 1 year through 5 years-Amortized Cost | ' | 2,000 |
Total Amortized Cost | ' | 2,000 |
Due after 1 year through 5 years-Gross Unrealized Gain | ' | 2 |
Total-Gross Unrealized Gains | ' | 2 |
Due after 1 year through 5 years-Gross Unrealized Losses | ' | -7 |
Total-Gross Unrealized Losses | ' | -7 |
Due after 1 year through 5 years-Fair Value | ' | 1,995 |
Total-Fair Value | ' | $1,995 |
Investment_and_Mortgage_Backed3
Investment and Mortgage Backed Securities (Details 1) (USD $) | 9 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Dec. 31, 2013 |
Mortgage Backed Securities Available For Sale [Line Items] | ' | ' |
Available-for-sale Securities, Fair Value | $3,456 | $4,699 |
Mortgage-backed securities [Member] | ' | ' |
Mortgage Backed Securities Available For Sale [Line Items] | ' | ' |
Available-for-sale Securities, Amortized Cost | 3,237 | 4,402 |
Available-for-sale Securities, Gross Unrealized Gains | 222 | 297 |
Available-for-sale Securities, Gross Unrealized Losses | -3 | 0 |
Available-for-sale Securities, Fair Value | 3,456 | 4,699 |
Government National Mortgage Association Certificates and Obligations (GNMA) [Member] | Mortgage-backed securities [Member] | ' | ' |
Mortgage Backed Securities Available For Sale [Line Items] | ' | ' |
Available-for-sale Securities, Amortized Cost | 1,013 | 1,109 |
Available-for-sale Securities, Gross Unrealized Gains | 62 | 80 |
Available-for-sale Securities, Gross Unrealized Losses | -3 | 0 |
Available-for-sale Securities, Fair Value | 1,072 | 1,189 |
Federal Home Loan Mortgage Corporation Certificates and Obligations (FHLMC) [Member] | Mortgage-backed securities [Member] | ' | ' |
Mortgage Backed Securities Available For Sale [Line Items] | ' | ' |
Available-for-sale Securities, Amortized Cost | 843 | 1,180 |
Available-for-sale Securities, Gross Unrealized Gains | 87 | 102 |
Available-for-sale Securities, Gross Unrealized Losses | 0 | 0 |
Available-for-sale Securities, Fair Value | 930 | 1,282 |
Federal National Mortgage Association Certificates and Obligations (FNMA) [Member] | Mortgage-backed securities [Member] | ' | ' |
Mortgage Backed Securities Available For Sale [Line Items] | ' | ' |
Available-for-sale Securities, Amortized Cost | 1,381 | 2,113 |
Available-for-sale Securities, Gross Unrealized Gains | 73 | 115 |
Available-for-sale Securities, Gross Unrealized Losses | 0 | 0 |
Available-for-sale Securities, Fair Value | $1,454 | $2,228 |
Investment_and_Mortgage_Backed4
Investment and Mortgage Backed Securities (Details 2) (USD $) | 9 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Dec. 31, 2013 |
Schedule of Available For Sale And Held To Maturity Securities [Line Items] | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | $12,211 | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Gross Unrealized Losses | 42 | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 3,943 | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Gross Unrealized Losses | 57 | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 16,154 | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Gross Unrealized Losses | 99 | ' |
U.S. Government obligations [Member] | ' | ' |
Schedule of Available For Sale And Held To Maturity Securities [Line Items] | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 11,961 | 19,319 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Gross Unrealized Losses | 39 | 681 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 3,943 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Gross Unrealized Losses | 57 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 15,904 | 19,319 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Gross Unrealized Losses | 96 | 681 |
Mortgage-backed securities [Member] | ' | ' |
Schedule of Available For Sale And Held To Maturity Securities [Line Items] | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 250 | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Gross Unrealized Losses | 3 | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 0 | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Gross Unrealized Losses | 0 | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 250 | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Gross Unrealized Losses | 3 | ' |
Municipal obligations [Member] | ' | ' |
Schedule of Available For Sale And Held To Maturity Securities [Line Items] | ' | ' |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 3,875 | 10,210 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Less than 12 Months, Gross Unrealized Losses | 11 | 245 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 2,984 | 427 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Gross Unrealized Losses | 27 | 40 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Fair Value | 6,859 | 10,637 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Aggregate Losses | $38 | $285 |
Investment_and_Mortgage_Backed5
Investment and Mortgage Backed Securities (Details Textual) (US Treasury Bond Securities [Member], USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
US Treasury Bond Securities [Member] | ' | ' |
Investment and Mortgage Backed Securities [Line Items] | ' | ' |
Available For Sale Securities In Unrealized Loss Positions Qualitative Disclosure Number Of Positions Less Than 12 Months | $19.90 | $20.30 |
Loans_Receivable_Net_Details
Loans Receivable - Net (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total loans receivable | $307,058 | $303,908 | $292,113 |
Deferred fees | -683 | -788 | ' |
Allowance for loan losses | -4,401 | -4,243 | ' |
Loans receivable - net | 301,974 | 298,877 | ' |
Single-family [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total loans receivable | 121,408 | 124,223 | 124,327 |
Multi-family [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total loans receivable | 21,193 | 22,181 | 23,253 |
Commercial [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total loans receivable | 124,321 | 122,814 | 115,768 |
Land and Construction [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total loans receivable | 23,843 | 19,792 | 13,461 |
Commercial Business [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total loans receivable | 12,345 | 10,403 | 10,590 |
Consumer [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Total loans receivable | $3,948 | $4,495 | $4,714 |
Loan_Credit_Quality_Details
Loan Credit Quality (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | $1,610 | $1,174 | ' |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 824 | 446 | ' |
Financing Receivable, Recorded Investment, 90 or More Days | 1,633 | 2,546 | ' |
Financing Receivable, Recorded Investment, Total Past Due | 4,067 | 4,166 | ' |
Financing Receivable, Recorded Investment, Current | 302,991 | 299,742 | ' |
Total Loans Receivable | 307,058 | 303,908 | 292,113 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Accruing | 1,040 | 1,050 | ' |
Single-family [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 555 | 532 | ' |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 79 | 159 | ' |
Financing Receivable, Recorded Investment, 90 or More Days | 1,078 | 1,390 | ' |
Financing Receivable, Recorded Investment, Total Past Due | 1,712 | 2,081 | ' |
Financing Receivable, Recorded Investment, Current | 119,696 | 122,142 | ' |
Total Loans Receivable | 121,408 | 124,223 | 124,327 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Accruing | 782 | 638 | ' |
Multi-family [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 0 | 0 | ' |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 0 | 0 | ' |
Financing Receivable, Recorded Investment, 90 or More Days | 0 | 0 | ' |
Financing Receivable, Recorded Investment, Total Past Due | 0 | 0 | ' |
Financing Receivable, Recorded Investment, Current | 21,193 | 22,181 | ' |
Total Loans Receivable | 21,193 | 22,181 | 23,253 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Accruing | 0 | 0 | ' |
Commercial [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 856 | 455 | ' |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 689 | 198 | ' |
Financing Receivable, Recorded Investment, 90 or More Days | 297 | 744 | ' |
Financing Receivable, Recorded Investment, Total Past Due | 1,842 | 1,397 | ' |
Financing Receivable, Recorded Investment, Current | 122,479 | 121,417 | ' |
Total Loans Receivable | 124,321 | 122,814 | 115,768 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Accruing | 0 | 0 | ' |
Land and construction [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 0 | 0 | ' |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 0 | 0 | ' |
Financing Receivable, Recorded Investment, 90 or More Days | 0 | 0 | ' |
Financing Receivable, Recorded Investment, Total Past Due | 0 | 0 | ' |
Financing Receivable, Recorded Investment, Current | 23,843 | 19,792 | ' |
Total Loans Receivable | 23,843 | 19,792 | 13,461 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Accruing | 0 | 0 | ' |
Commercial business [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 0 | 64 | ' |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 0 | 0 | ' |
Financing Receivable, Recorded Investment, 90 or More Days | 0 | 0 | ' |
Financing Receivable, Recorded Investment, Total Past Due | 0 | 64 | ' |
Financing Receivable, Recorded Investment, Current | 12,345 | 10,339 | ' |
Total Loans Receivable | 12,345 | 10,403 | 10,590 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Accruing | 0 | 0 | ' |
Consumer [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Financing Receivable, Recorded Investment, 30 to 59 Days Past Due | 199 | 123 | ' |
Financing Receivable, Recorded Investment, 60 to 89 Days Past Due | 56 | 89 | ' |
Financing Receivable, Recorded Investment, 90 or More Days | 258 | 412 | ' |
Financing Receivable, Recorded Investment, Total Past Due | 513 | 624 | ' |
Financing Receivable, Recorded Investment, Current | 3,435 | 3,871 | ' |
Total Loans Receivable | 3,948 | 4,495 | 4,714 |
Financing Receivable, Recorded Investment, 90 Days Past Due and Accruing | $258 | $412 | ' |
Loan_Credit_Quality_Details_1
Loan Credit Quality (Details 1) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total non-accruing loans | $1,106 | $1,496 |
Single-family [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total non-accruing loans | 296 | 752 |
Multi-family [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total non-accruing loans | 0 | 0 |
Commercial [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total non-accruing loans | 810 | 744 |
Land and construction [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total non-accruing loans | 0 | 0 |
Commercial business [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total non-accruing loans | 0 | 0 |
Consumer [Member] | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' |
Total non-accruing loans | $0 | $0 |
Loan_Credit_Quality_Details_2
Loan Credit Quality (Details 2) (USD $) | 3 Months Ended | 9 Months Ended | |||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 |
Allowance for loan losses | ' | ' | ' | ' | ' |
Beginning balance | $4,465 | $4,382 | $4,243 | $4,919 | ' |
Charge-offs | -166 | -30 | -200 | -916 | ' |
Recoveries | 2 | 2 | 8 | 51 | ' |
Provisions | 100 | 150 | 350 | 450 | ' |
Ending balance | 4,401 | 4,504 | 4,401 | 4,504 | ' |
Ending balance: | ' | ' | ' | ' | ' |
individually evaluated for impairment | 438 | 773 | 438 | 773 | 544 |
collectively evaluated for impairment | 3,963 | 3,731 | 3,963 | 3,731 | 3,699 |
Loans receivable: | ' | ' | ' | ' | ' |
Ending balance | 307,058 | 292,113 | 307,058 | 292,113 | 303,908 |
individually evaluated for impairment | 8,863 | 10,524 | 8,863 | 10,524 | 9,447 |
collectively evaluated for impairment | 298,195 | 281,589 | 298,195 | 281,589 | 294,461 |
Single Family [Member] | ' | ' | ' | ' | ' |
Allowance for loan losses | ' | ' | ' | ' | ' |
Beginning balance | 858 | 953 | 833 | 1,027 | ' |
Charge-offs | 0 | -8 | -32 | -241 | ' |
Recoveries | 2 | 0 | 4 | 18 | ' |
Provisions | 0 | 45 | 55 | 186 | ' |
Ending balance | 860 | 990 | 860 | 990 | ' |
Ending balance: | ' | ' | ' | ' | ' |
individually evaluated for impairment | 15 | 18 | 15 | 18 | 18 |
collectively evaluated for impairment | 845 | 972 | 845 | 972 | 815 |
Loans receivable: | ' | ' | ' | ' | ' |
Ending balance | 121,408 | 124,327 | 121,408 | 124,327 | 124,223 |
individually evaluated for impairment | 1,045 | 555 | 1,045 | 555 | 552 |
collectively evaluated for impairment | 120,363 | 123,772 | 120,363 | 123,772 | 123,671 |
Multi Family [Member] | ' | ' | ' | ' | ' |
Allowance for loan losses | ' | ' | ' | ' | ' |
Beginning balance | 301 | 148 | 304 | 623 | ' |
Charge-offs | 0 | 0 | 0 | -359 | ' |
Recoveries | 0 | 0 | 0 | 0 | ' |
Provisions | -6 | 97 | -9 | -19 | ' |
Ending balance | 295 | 245 | 295 | 245 | ' |
Ending balance: | ' | ' | ' | ' | ' |
individually evaluated for impairment | 0 | 0 | 0 | 0 | 0 |
collectively evaluated for impairment | 295 | 245 | 295 | 245 | 304 |
Loans receivable: | ' | ' | ' | ' | ' |
Ending balance | 21,193 | 23,253 | 21,193 | 23,253 | 22,181 |
individually evaluated for impairment | 0 | 0 | 0 | 0 | 0 |
collectively evaluated for impairment | 21,193 | 23,253 | 21,193 | 23,253 | 22,181 |
Commercial Real Estate [Member] | ' | ' | ' | ' | ' |
Allowance for loan losses | ' | ' | ' | ' | ' |
Beginning balance | 2,415 | 2,395 | 2,259 | 2,674 | ' |
Charge-offs | -166 | -18 | -166 | -310 | ' |
Recoveries | 0 | 0 | 3 | 0 | ' |
Provisions | 104 | 199 | 257 | 212 | ' |
Ending balance | 2,353 | 2,576 | 2,353 | 2,576 | ' |
Ending balance: | ' | ' | ' | ' | ' |
individually evaluated for impairment | 423 | 755 | 423 | 755 | 526 |
collectively evaluated for impairment | 1,930 | 1,821 | 1,930 | 1,821 | 1,733 |
Loans receivable: | ' | ' | ' | ' | ' |
Ending balance | 124,321 | 115,768 | 124,321 | 115,768 | 122,814 |
individually evaluated for impairment | 7,818 | 9,969 | 7,818 | 9,969 | 8,895 |
collectively evaluated for impairment | 116,503 | 105,799 | 116,503 | 105,799 | 113,919 |
Land and Construction [Member] | ' | ' | ' | ' | ' |
Allowance for loan losses | ' | ' | ' | ' | ' |
Beginning balance | 653 | 651 | 618 | 352 | ' |
Charge-offs | 0 | 0 | 0 | 0 | ' |
Recoveries | 0 | 0 | 0 | 30 | ' |
Provisions | 1 | -209 | 36 | 60 | ' |
Ending balance | 654 | 442 | 654 | 442 | ' |
Ending balance: | ' | ' | ' | ' | ' |
individually evaluated for impairment | 0 | 0 | 0 | 0 | 0 |
collectively evaluated for impairment | 654 | 442 | 654 | 442 | 618 |
Loans receivable: | ' | ' | ' | ' | ' |
Ending balance | 23,843 | 13,461 | 23,843 | 13,461 | 19,792 |
individually evaluated for impairment | 0 | 0 | 0 | 0 | 0 |
collectively evaluated for impairment | 23,843 | 13,461 | 23,843 | 13,461 | 19,792 |
Consumer [Member] | ' | ' | ' | ' | ' |
Allowance for loan losses | ' | ' | ' | ' | ' |
Beginning balance | 12 | 10 | 14 | 18 | ' |
Charge-offs | 0 | -4 | -2 | -6 | ' |
Recoveries | 0 | 2 | 1 | 0 | ' |
Provisions | 0 | 3 | -1 | -1 | ' |
Ending balance | 12 | 11 | 12 | 11 | ' |
Ending balance: | ' | ' | ' | ' | ' |
individually evaluated for impairment | 0 | 0 | 0 | 0 | 0 |
collectively evaluated for impairment | 12 | 11 | 12 | 11 | 14 |
Loans receivable: | ' | ' | ' | ' | ' |
Ending balance | 3,948 | 4,714 | 3,948 | 4,714 | 4,495 |
individually evaluated for impairment | 0 | 0 | 0 | 0 | 0 |
collectively evaluated for impairment | 12,345 | 4,714 | 12,345 | 4,714 | 4,495 |
Commercial Business [Member] | ' | ' | ' | ' | ' |
Allowance for loan losses | ' | ' | ' | ' | ' |
Beginning balance | 226 | 225 | 215 | 225 | ' |
Charge-offs | 0 | 0 | 0 | 0 | ' |
Recoveries | 0 | 0 | 0 | 3 | ' |
Provisions | 1 | 15 | 12 | 12 | ' |
Ending balance | 227 | 240 | 227 | 240 | ' |
Ending balance: | ' | ' | ' | ' | ' |
individually evaluated for impairment | 0 | 0 | 0 | 0 | 0 |
collectively evaluated for impairment | 227 | 240 | 227 | 240 | 215 |
Loans receivable: | ' | ' | ' | ' | ' |
Ending balance | 12,345 | 10,590 | 12,345 | 10,590 | 10,403 |
individually evaluated for impairment | 0 | 0 | 0 | 0 | 0 |
collectively evaluated for impairment | $3,948 | $10,590 | $3,948 | $10,590 | $10,403 |
Loan_Credit_Quality_Details_3
Loan Credit Quality (Details 3) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | $307,058 | $303,908 | $292,113 |
Pass [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 297,211 | 293,263 | ' |
Special Mention [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 1,260 | 1,840 | ' |
Substandard [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 8,587 | 8,805 | ' |
Doubtful [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 0 | 0 | ' |
Single-family [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 121,408 | 124,223 | 124,327 |
Single-family [Member] | Pass [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 119,017 | 122,472 | ' |
Single-family [Member] | Special Mention [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 715 | 361 | ' |
Single-family [Member] | Substandard [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 1,676 | 1,390 | ' |
Single-family [Member] | Doubtful [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 0 | 0 | ' |
Multi-family [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 21,193 | 22,181 | 23,253 |
Multi-family [Member] | Pass [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 21,193 | 22,181 | ' |
Multi-family [Member] | Special Mention [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 0 | 0 | ' |
Multi-family [Member] | Substandard [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 0 | 0 | ' |
Multi-family [Member] | Doubtful [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 0 | 0 | ' |
Commercial [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 124,321 | 122,814 | 115,768 |
Commercial [Member] | Pass [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 116,865 | 113,920 | ' |
Commercial [Member] | Special Mention [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 545 | 1,479 | ' |
Commercial [Member] | Substandard [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 6,911 | 7,415 | ' |
Commercial [Member] | Doubtful [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 0 | 0 | ' |
Land and construction [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 23,843 | 19,792 | 13,461 |
Land and construction [Member] | Pass [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 23,843 | 19,792 | ' |
Land and construction [Member] | Special Mention [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 0 | 0 | ' |
Land and construction [Member] | Substandard [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 0 | 0 | ' |
Land and construction [Member] | Doubtful [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 0 | 0 | ' |
Commercial business [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 12,345 | 10,403 | 10,590 |
Commercial business [Member] | Pass [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 12,345 | 10,403 | ' |
Commercial business [Member] | Special Mention [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 0 | 0 | ' |
Commercial business [Member] | Substandard [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 0 | 0 | ' |
Commercial business [Member] | Doubtful [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 0 | 0 | ' |
Consumer [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 3,948 | 4,495 | 4,714 |
Consumer [Member] | Pass [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 3,948 | 4,495 | ' |
Consumer [Member] | Special Mention [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 0 | 0 | ' |
Consumer [Member] | Substandard [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | 0 | 0 | ' |
Consumer [Member] | Doubtful [Member] | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount | $0 | $0 | ' |
Loan_Credit_Quality_Details_4
Loan Credit Quality (Details 4) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Impaired Financing Receivable, Recorded Investment | $0 | ' | $0 | ' | $728 |
Single-family [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Impaired Financing Receivable, With No Related Allowance, Recorded Investment | 854 | 364 | 854 | 364 | 361 |
Impaired Financing Receivable, With No Related Allowance, Unpaid Principal Balance | 854 | 364 | 854 | 364 | 361 |
Impaired Financing Receivable, With No Related Allowance, Average Recorded Investment | 520 | 364 | 409 | 364 | 361 |
Impaired Financing Receivable, With No Related Allowance, Interest Income Recognized While Impaired | 39 | 4 | 45 | 10 | 13 |
Impaired Financing Receivable, With Related Allowance, Recorded Investment | 191 | 191 | 191 | 191 | 191 |
Impaired Financing Receivable, With Related Allowance, Unpaid Principal Balance | 191 | 191 | 191 | 191 | 191 |
Impaired Financing Receivable, Related Allowance, With Related Allowance | 15 | 18 | 15 | 18 | 18 |
Impaired Financing Receivable, With Related Allowance, Average Recorded Investment | 191 | 191 | 191 | 191 | 191 |
Impaired Financing Receivable, With Related Allowance, Interest Income Recognized While Impaired | 1 | 4 | 7 | 9 | 12 |
Impaired Financing Receivable, Recorded Investment | 1,405 | 555 | 1,405 | 555 | 552 |
Impaired Financing Receivable, Unpaid Principal Balance | 1,405 | 559 | 1,405 | 559 | 552 |
Impaired Financing Receivable, Related Allowance | 15 | 18 | 15 | 18 | 18 |
Impaired Financing Receivable, Average Recorded Investment | 711 | 555 | 600 | 555 | 552 |
Impaired Financing Receivable, Interest Income Recognized While Impaired | 40 | 5 | 52 | 19 | 25 |
Commercial [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Impaired Financing Receivable, With No Related Allowance, Recorded Investment | 3,876 | 3,490 | 3,876 | 3,490 | 3,835 |
Impaired Financing Receivable, With No Related Allowance, Unpaid Principal Balance | 3,876 | 3,490 | 3,876 | 3,490 | 4,263 |
Impaired Financing Receivable, With No Related Allowance, Average Recorded Investment | 3,876 | 3,490 | 3,876 | 2,904 | 3,411 |
Impaired Financing Receivable, With No Related Allowance, Interest Income Recognized While Impaired | 46 | 48 | 155 | 143 | 239 |
Impaired Financing Receivable, With Related Allowance, Recorded Investment | 3,942 | 6,479 | 3,942 | 6,479 | 5,060 |
Impaired Financing Receivable, With Related Allowance, Unpaid Principal Balance | 3,942 | 6,555 | 3,942 | 6,555 | 5,187 |
Impaired Financing Receivable, Related Allowance, With Related Allowance | 423 | 755 | 423 | 755 | 526 |
Impaired Financing Receivable, With Related Allowance, Average Recorded Investment | 3,942 | 6,479 | 3,876 | 6,479 | 4,759 |
Impaired Financing Receivable, With Related Allowance, Interest Income Recognized While Impaired | 52 | 84 | 135 | 217 | 198 |
Impaired Financing Receivable, Recorded Investment | 7,818 | 9,969 | 7,818 | 9,969 | 8,895 |
Impaired Financing Receivable, Unpaid Principal Balance | 7,818 | 10,045 | 7,818 | 10,045 | 9,450 |
Impaired Financing Receivable, Related Allowance | 423 | 755 | 423 | 755 | 526 |
Impaired Financing Receivable, Average Recorded Investment | 7,818 | 9,969 | 7,752 | 9,383 | 8,170 |
Impaired Financing Receivable, Interest Income Recognized While Impaired | $98 | $132 | $290 | $360 | $437 |
Loan_Credit_Quality_Details_5
Loan Credit Quality (Details 5) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 |
Single-family [Member] | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' |
Financing Receivable, Modifications, Subsequent Default, Number Of Contracts | ' | 1 | ' | ' |
Financing Receivable Modifications, Pre-Modification Recorded Investments | $464 | $464 | ' | ' |
Financing Receivable Modifications, Post-Modification Recorded Investments | 500 | 500 | ' | ' |
Commercial [Member] | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' |
Financing Receivable, Modifications, Subsequent Default, Number Of Contracts | ' | 1 | 2 | 2 |
Financing Receivable Modifications, Pre-Modification Recorded Investments | 102 | 102 | 891 | 891 |
Financing Receivable Modifications, Post-Modification Recorded Investments | $102 | $102 | $921 | $891 |
Loan_Credit_Quality_Details_Te
Loan Credit Quality (Details Textual) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Provision for Loan and Lease Losses | $100 | $150 | $350 | $450 | ' |
Nine Loans [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount, Other | 3,900 | ' | 3,900 | ' | ' |
Single-family [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Provision for Loan and Lease Losses | 0 | 45 | 55 | 186 | ' |
Financing Receivable, Modifications, Pre-Modification Recorded Investment | 464 | ' | 464 | ' | ' |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 500 | ' | 500 | ' | ' |
Eleven Commercial Real Estate [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount, Other | ' | 5,800 | ' | 5,800 | ' |
Multi Family [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Provision for Loan and Lease Losses | -6 | 97 | -9 | -19 | ' |
Two Borrowers [Member] | Substandard [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Provision for Loan and Lease Losses | ' | ' | ' | 18 | ' |
Two Borrowers [Member] | Six Loans [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount, Other | ' | 73 | ' | 73 | ' |
One Single Family [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount, Other | 191 | ' | 191 | ' | 191 |
Provision for Loan and Lease Losses | ' | ' | 15 | ' | ' |
One Single Family [Member] | Substandard [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Provision for Loan and Lease Losses | ' | ' | ' | ' | 18 |
Nine Commercial Real Estate [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount, Other | ' | ' | ' | ' | 4,500 |
Nine Commercial Real Estate [Member] | Five Loans [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount, Other | ' | ' | ' | ' | 1,500 |
Provision for Loan and Lease Losses | ' | ' | ' | ' | 57 |
Nine Commercial Real Estate [Member] | Four Loans [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount, Other | ' | ' | ' | ' | 3,000 |
Provision for Loan and Lease Losses | ' | ' | ' | ' | 220 |
Nine Commercial Real Estate [Member] | Two Loans [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount, Other | 505 | ' | 505 | ' | ' |
Provision for Loan and Lease Losses | ' | ' | 5 | ' | ' |
Nine Commercial Real Estate [Member] | Two Loans [Member] | Substandard [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount, Other | 765 | ' | 765 | ' | ' |
Nine Commercial Real Estate [Member] | Two Loans [Member] | Special Mention [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount, Other | 401 | ' | 401 | ' | ' |
Nine Commercial Real Estate [Member] | Three Loans [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount, Other | 2,200 | ' | 2,200 | ' | ' |
Provision for Loan and Lease Losses | ' | ' | 208 | ' | ' |
Three Single Family [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount, Other | 854 | 555 | 854 | 555 | ' |
Three Single Family [Member] | One Loans [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount, Other | ' | 500 | ' | 500 | ' |
Three Single Family [Member] | Two Loans [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount, Other | 354 | ' | 354 | ' | ' |
Five Borrowers [Member] | Substandard [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount, Other | ' | 514 | ' | 514 | ' |
Two single-family [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Loans and Leases Receivable, Gross, Carrying Amount, Other | ' | ' | ' | ' | 361 |
Commercial Real Estate [Member] | ' | ' | ' | ' | ' |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' | ' | ' |
Provision for Loan and Lease Losses | 104 | 199 | 257 | 212 | ' |
Financing Receivable, Modifications, Pre-Modification Recorded Investment | 102 | ' | 102 | 891 | 891 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $102 | ' | $102 | $921 | $891 |
StockBased_Compensation_Detail
Stock-Based Compensation (Details) (RRP 2011 [Member], USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | |
RRP 2011 [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Restricted at the beginning of period-Number of shares | 122,890 | 169,560 | 135,070 | 169,560 |
Granted-Number of shares | 0 | 0 | 0 | 0 |
Vested-Number of shares | 38,180 | 42,240 | 50,360 | 42,240 |
Forfeited-Number of shares | 0 | 0 | 0 | 0 |
Restricted at the end of period-Number of shares | 84,710 | 127,320 | 84,710 | 127,320 |
Restricted at the beginning of period-Weighted average grant date fair value | $11.22 | $11.08 | $11.22 | $11.08 |
Granted-Weighted average grant date fair value | $0 | $0 | $0 | $0 |
Vested-Weighted average grant date fair value | $11.07 | $11.07 | $11.07 | $11.07 |
Forfeited-Weighted average grant date fair value | $0 | $0 | $0 | $0 |
Restricted at the end of period-Weighted average grant date fair value | $11.47 | $11.08 | $11.47 | $11.08 |
StockBased_Compensation_Detail1
Stock-Based Compensation (Details 1) (Stock Option Plan 2011 [Member], USD $) | 3 Months Ended | 9 Months Ended |
Sep. 30, 2014 | Sep. 30, 2014 | |
Stock Option Plan 2011 [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Options outstanding at the beginning of period-Number of shares | 325,750 | 325,750 |
Granted-Number of shares | 0 | 0 |
Exercised-Number of shares | 0 | 0 |
Vested-Number of shares | 0 | 0 |
Forfeited-Number of shares | 0 | 0 |
Options outstanding at the end of period-Number of shares | 325,750 | 325,750 |
Exercisable at end of the period-Number of shares | 184,200 | 184,200 |
Options outstanding at the beginning of period-Weighted average exercise price | $11.60 | $11.60 |
Granted-Weighted average exercise price | $0 | $0 |
Exercised-Weighted average exercise price | $0 | $0 |
Vested-Weighted average exercise price | $0 | $0 |
Forfeited-Weighted average exercise price | $0 | $0 |
Options outstanding at the end of period-Weighted average exercise price | $11.60 | $11.60 |
Exercisable at the end of the period-Weighted average exercise price | $11.60 | $11.60 |
StockBased_Compensation_Detail2
Stock-Based Compensation (Details Textual) (USD $) | 9 Months Ended | 12 Months Ended | 3 Months Ended | 9 Months Ended | 0 Months Ended | 1 Months Ended | 3 Months Ended | 9 Months Ended | |||||||||||
Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 11, 2013 | Jul. 31, 2011 | Jul. 20, 2011 | Dec. 11, 2013 | Jul. 31, 2012 | Jul. 31, 2011 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | |
2011 Option Plan [Member] | 2011 Option Plan [Member] | 2011 Option Plan [Member] | 2011 Option Plan [Member] | 2011 Option Plan [Member] | 2011 Option Plan [Member] | 2011 Option Plan [Member] | Recognition and Retention Plan and Trust [Member] | Recognition and Retention Plan and Trust [Member] | Recognition and Retention Plan and Trust [Member] | Recognition and Retention Plan and Trust [Member] | Recognition and Retention Plan and Trust [Member] | Recognition and Retention Plan and Trust [Member] | Recognition and Retention Plan and Trust [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Shares Purchased for Award (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 218,977 | ' | ' | ' | ' |
Share Based Compensation Arrangement By Share Based Payment Award Shares Purchased For Award Value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $2,400,000 | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Per Share Weighted Average Price of Shares Purchased (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $11.14 | ' | ' | ' | ' |
Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,750 | 3,000 | 208,200 | ' | ' | ' | ' |
Stock Issued During Period, Shares, Employee Stock Purchase Plans (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9,993 | 10,560 | 40,008 | 31,680 |
Share-Based Compensation Arrangement By Share-Based Payment Award Accelerated Compensation Cost | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 107,000 | 112,000 | 429,000 | 336,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Outstanding, Weighted Average Remaining Contractual Term | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 803,000 | ' | 803,000 | ' |
Share-Based Compensation Arrangement By Share-Based Payment Award, Equity Instruments Other Than Options, Outstanding, Weighted Average Remaining Contractual Terms | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '2 years 6 months | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Number (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | 38,500 | 277,750 | 9,500 | ' | ' | ' | ' | ' | ' | ' |
Common Stock, Capital Shares Reserved for Future Issuance (in shares) | ' | ' | ' | ' | ' | 92 | ' | 92 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | ' | ' | 2.00% | 2.00% | 2.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | ' | ' | 1.53% | 0.71% | 1.58% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share Based Compensation Arrangement By Share Based Payment Award Fairvalue Assumptions Expected Terms | ' | ' | '7 years | '7 years | '7 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate | ' | ' | 28.35% | 28.87% | 30.34% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share) | ' | ' | ' | $3.08 | $2.99 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Remaining Contractual Terms1 | '7 years 9 months | ' | ' | ' | ' | ' | ' | '2 years 6 months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock-based compensation expense | 714,000 | 575,000 | ' | ' | ' | 46,000 | 41,000 | 170,000 | 124,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Rate | ' | ' | ' | ' | ' | ' | ' | 20.00% | ' | ' | ' | ' | ' | ' | 20.00% | ' | ' | ' | ' |
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Stock Options | ' | ' | ' | ' | ' | 398,000 | ' | 398,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share Based Compensation Arrangement By Share Based Payment Award Number Of Additional Shares Authorized To Purchase | ' | ' | ' | ' | ' | ' | ' | 325,842 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employee Service Share-based Compensation, Tax Benefit from Compensation Expense | ' | ' | ' | ' | ' | 16,000 | 14,000 | 58,000 | 42,000 | ' | ' | ' | ' | ' | ' | 36,000 | 38,000 | 146,000 | 114,000 |
Share based Compensation Arrangement By Share Based Payment Award Accelerated Vesting Value | ' | ' | ' | ' | ' | ' | ' | $31,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | $102,000 | ' |
Contingent_Obligations_Details
Contingent Obligations (Details Textual) (Standby Letters of Credit [Member], USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
Standby Letters of Credit [Member] | ' | ' |
Guarantor Obligations [Line Items] | ' | ' |
Guarantor Obligations, Maximum Exposure, Undiscounted | $987,000 | $1,500,000 |