BSB Bancorp 10-Q 6 Nov 15 2015 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2015	Oct. 30, 2015
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
Trading Symbol	BLMT
Entity Registrant Name	BSB BANCORP, INC.
Entity Central Index Key	1,522,420
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		9,087,988

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
ASSETS
Cash and due from banks	$ 2,196	$ 2,275
Interest-bearing deposits in other banks	40,404	49,492
Cash and cash equivalents	42,600	51,767
Interest-bearing time deposits with other banks	131	131
Investments in available-for-sale securities	22,025	22,079
Investments in held-to-maturity securities (fair value of $136,408 as of September 30, 2015 (unaudited) and $119,447 as of December 31, 2014)	135,328	118,528
Federal Home Loan Bank stock, at cost	16,774	13,712
Loans, net of allowance for loan losses of $10,390 as of September 30, 2015 (unaudited) and $8,881 as of December 31, 2014	1,427,660	1,179,399
Premises and equipment, net	2,714	3,066
Accrued interest receivable	3,608	2,977
Deferred tax asset, net	6,390	5,642
Income taxes receivable	1	321
Bank-owned life insurance	29,529	23,888
Other real estate owned	1,513
Other assets	4,132	4,040
Total assets	1,692,405	1,425,550
Deposits:
Noninterest-bearing	176,311	179,205
Interest-bearing	1,032,260	805,357
Total deposits	1,208,571	984,562
Federal Home Loan Bank advances	319,600	285,100
Securities sold under agreements to repurchase	2,386	1,392
Other borrowed funds	1,032	1,067
Accrued interest payable	1,025	961
Deferred compensation liability	6,175	5,751
Other liabilities	10,045	9,707
Total liabilities	1,548,834	1,288,540
Stockholders' Equity:
Common stock; $0.01 par value, 100,000,000 shares authorized; 9,086,488 and 9,067,792 shares issued and outstanding at September 30, 2015 and December 31, 2014, respectively	91	91
Additional paid-in capital	89,030	87,428
Retained earnings	58,448	53,603
Accumulated other comprehensive loss	(22)	(22)
Unearned compensation - ESOP	(3,976)	(4,090)
Total stockholders' equity	143,571	137,010
Total liabilities and stockholders' equity	$ 1,692,405	$ 1,425,550

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Investments in held-to-maturity securities, fair value	$ 136,408	$ 119,447
Loans, allowance for loan losses	$ 10,390	$ 8,881
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	9,086,488	9,067,792
Common stock, shares outstanding	9,086,488	9,067,792

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Interest and dividend income:
Interest and fees on loans	$ 11,459	$ 9,235	$ 32,368	$ 25,529
Interest on taxable debt securities	764	749	2,242	2,359
Dividends	123	38	245	100
Other interest income	15	14	59	64
Total interest and dividend income	12,361	10,036	34,914	28,052
Interest expense:
Interest on deposits	1,989	1,575	5,686	4,131
Interest on Federal Home Loan Bank advances	567	313	1,624	827
Interest on securities sold under agreements to repurchase	1	1	2	2
Interest on other borrowed funds	7	7	21	23
Total interest expense	2,564	1,896	7,333	4,983
Net interest and dividend income	9,797	8,140	27,581	23,069
Provision for loan losses	727	292	1,430	988
Net interest and dividend income after provision for loan losses	9,070	7,848	26,151	22,081
Noninterest income:
Customer service fees	253	221	668	664
Income from bank-owned life insurance	247	152	636	352
Net gain on sales of loans	47	104	379	328
Loan servicing fee income	159	217	462	636
Net (loss) gain on investments held in rabbi trust	(74)	(31)	(44)	31
Other income	61	129	295	363
Total noninterest income	693	792	2,396	2,374
Noninterest expense:
Salaries and employee benefits	4,357	4,313	13,078	12,462
Director compensation	151	173	643	706
Occupancy expense	262	259	819	804
Equipment expense	138	144	422	455
Deposit insurance	236	191	687	554
Data processing	789	751	2,316	2,228
Professional fees	155	184	544	583
Marketing	190	228	708	742
Other expense	451	413	1,433	1,297
Total noninterest expense	6,729	6,656	20,650	19,831
Income before income tax expense	3,034	1,984	7,897	4,624
Income tax expense	1,166	782	3,052	1,700
Net income	$ 1,868	$ 1,202	$ 4,845	$ 2,924
Earnings per share
Basic	$ 0.22	$ 0.14	$ 0.56	$ 0.34
Diluted	$ 0.21	$ 0.14	$ 0.55	$ 0.34

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Net income	$ 1,868	$ 1,202	$ 4,845	$ 2,924
Other comprehensive income, before tax:
Change in fair value of securities available for sale	18	56		379
Other comprehensive income, before tax	18	56		379
Income tax expense related to items of other comprehensive income	(7)	(20)		(149)
Other comprehensive income, net of tax	11	36		230
Comprehensive income	$ 1,879	$ 1,238	$ 4,845	$ 3,154

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive (Loss) Income	Employee Stock Ownership Plan Unearned Compensation
Balance (in shares) at Dec. 31, 2013		9,055,808
Balance at Dec. 31, 2013	$ 130,421	$ 91	$ 85,449	$ 49,312	$ (188)	$ (4,243)
Net income	2,924			2,924
Other comprehensive income	230				230
Release of ESOP stock	195		81			114
Stock based compensation-restricted stock awards	685		685
Stock based compensation-stock options	642		642
Tax benefit from stock based compensation	13		13
Restricted stock grants		4,000
Stock option exercises	22		22
Stock option exercises (in shares)		3,518
Balance (in shares) at Sep. 30, 2014		9,063,326
Balance at Sep. 30, 2014	$ 135,132	$ 91	86,892	52,236	42	(4,129)
Balance (in shares) at Dec. 31, 2014	9,067,792	9,067,792
Balance at Dec. 31, 2014	$ 137,010	$ 91	87,428	53,603	(22)	(4,090)
Net income	4,845			4,845
Release of ESOP stock	235		121			114
Stock based compensation-restricted stock awards	648		648
Stock based compensation-stock options	589		589
Tax benefit from stock based compensation	54		54
Stock option exercises	$ 190		190
Stock option exercises (in shares)		18,696
Balance (in shares) at Sep. 30, 2015	9,086,488	9,086,488
Balance at Sep. 30, 2015	$ 143,571	$ 91	$ 89,030	$ 58,448	$ (22)	$ (3,976)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Cash flows from operating activities:
Net income	$ 4,845	$ 2,924
Adjustments to reconcile net income to net cash provided by operating activities:
Amortization of securities, net	539	462
Gain on sales of loans, net	(379)	(328)
Loans originated for sale	(11,733)	(14,922)
Proceeds from sales of loans	22,228	24,713
Provision for loan losses	1,430	988
Change in net unamortized mortgage premiums	(1,298)	(855)
Change in net deferred loan costs	213	(1,083)
ESOP expense	235	195
Stock based compensation expense	1,237	1,327
Excess tax benefit from stock based compensation	(54)	(13)
Depreciation and amortization expense	564	575
Write off of premises and equipment	6	3
Deferred income tax benefit	(694)	(453)
Increase in bank-owned life insurance	(636)	(352)
Net change in:
Accrued interest receivable	(631)	(574)
Other assets	(92)	(115)
Income taxes receivable	320	(151)
Income taxes payable		(178)
Accrued interest payable	64	239
Deferred compensation liability	424	360
Other liabilities	(279)	(720)
Net cash provided by operating activities	16,309	12,042
Cash flows from investing activities:
Maturities of interest-bearing time deposits with other banks		119
Purchases of interest-bearing time deposits with other banks		(131)
Proceeds from maturities, payments, and calls of held-to-maturity securities	15,659	15,904
Purchases of held-to-maturity securities	(32,944)	(18,218)
Redemption of Federal Home Loan Bank stock		405
Purchases of Federal Home Loan Bank stock	(3,062)	(5,805)
Recoveries of loans previously charged off	252	20
Loan originations and principal collections, net	(48,339)	(139,389)
Purchases of loans	(212,148)	(123,803)
Capital expenditures	(218)	(410)
Premiums paid on bank-owned life insurance	(5,005)	(10,005)
Net cash used in investing activities	(285,805)	(281,313)
Cash flows from financing activities:
Net increase in demand deposits, NOW and savings accounts	192,488	113,724
Net increase in time deposits	31,521	54,106
Net proceeds from long-term Federal Home Loan Bank borrowings	27,500	9,000
Net change in short-term advances	7,000	100,000
Net increase (decrease) in securities sold under agreement to repurchase	994	(669)
Repayment of principal on other borrowed funds	(35)	(35)
Net increase in mortgagors' escrow accounts	617	560
Net proceeds from exercise of stock options	190	22
Excess tax benefit from stock based compensation	54	13
Net cash provided by financing activities	260,329	276,721
Net (decrease) increase in cash and cash equivalents	(9,167)	7,450
Cash and cash equivalents at beginning of period	51,767	38,035
Cash and cash equivalents at end of period	42,600	45,485
Supplemental disclosures:
Interest paid	7,269	4,744
Income taxes paid	3,426	2,482
Transfer of loans held for investment to loans held for sale	10,116	$ 9,564
Transfer of loans to other real estate owned	$ 1,513

BASIS OF PRESENTATION

BASIS OF PRESENTATION	9 Months Ended
	Sep. 30, 2015
BASIS OF PRESENTATION	NOTE 1 – BASIS OF PRESENTATION The accompanying unaudited consolidated financial statements of BSB Bancorp, Inc. have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. The consolidated financial statements of BSB Bancorp, Inc. include the balances and results of operations of BSB Bancorp, Inc., a Maryland corporation, and its wholly-owned subsidiaries, Belmont Savings Bank and BSB Funding Corporation (referred to herein as “the Company,” “we,” “us,” or “our”). Intercompany transactions and balances are eliminated in the consolidation. In the opinion of management, the accompanying unaudited consolidated financial statements contain all adjustments (consisting only of normal recurring adjustments) necessary to present fairly the Company’s financial position as of September 30, 2015 and December 31, 2014 and the results of operations and cash flows for the interim periods ended September 30, 2015 and 2014. All interim amounts have not been audited, and the results of operations for the interim periods herein are not necessarily indicative of the results of operations to be expected for the fiscal year. The accompanying unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements and accompanying notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014. Certain previously reported amounts have been reclassified to conform to the current period’s presentation.

RECENT ACCOUNTING STANDARDS UPD

RECENT ACCOUNTING STANDARDS UPDATES	9 Months Ended
	Sep. 30, 2015
RECENT ACCOUNTING STANDARDS UPDATES	NOTE 2 – RECENT ACCOUNTING STANDARDS UPDATES In May 2014, the Financial Accounting Standards Board (“FASB”) issued amendments to Accounting Standards Codification (“ASC”) section 606 “Revenue from Contracts with Customers” through issuance of ASU No. 2014-09, “Revenue from Contracts with Customers.” The guidance in this update affects any entity that either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of nonfinancial assets unless those contracts are within the scope of other standards (for example, insurance contracts or lease contracts). The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance provides steps to follow to achieve the core principle. An entity should disclose sufficient information to enable users of financial statements to understand the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. Qualitative and quantitative information is required about contracts with customers, significant judgments and changes in judgments, and assets recognized from the costs to obtain or fulfill a contract. The amendments in this update are effective for interim and annual reporting periods beginning after December 15, 2016. In August 2015, the FASB issued ASU 2015-14, “Revenue from Contracts with Customers (Topic 606).” The amendments in ASU defer the effective date of ASU 2014-09 for all entities by one year. The amendments in this update are effective for interim and annual reporting periods beginning after December 15, 2017. We are currently evaluating the impact of adopting the new guidance on the consolidated financial statements. In June 2014, the FASB issued amendments to ASC 718 “Compensation—Stock Compensation” through the issuance of ASU 2014-12 “Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period.” The amendments clarify the proper method of accounting for share-based payments when the terms of an award provide that a performance target could be achieved after the requisite service period. The ASU requires that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. The performance target should not be reflected in estimating the grant-date fair value of the award. Compensation cost should be recognized in the period in which it becomes probable that the performance target will be achieved and should represent the compensation cost attributable to the period(s) for which the requisite service has already been rendered. The amendments in this ASU are effective for annual periods and interim periods within those annual periods beginning after December 15, 2015. Earlier adoption is permitted. The Company anticipates that the adoption of this ASU will not have a material impact on its consolidated financial statements. In August 2014, the FASB issued ASU 2014-15, “Presentation of Financial Statements – Going Concern (Subtopic 205-40).” The amendments in this ASU provide guidance about management’s responsibility to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern and to provide related footnote disclosures. The amendments require management to assess an entity’s ability to continue as a going concern by incorporating and expanding upon certain principles that are currently in U.S. auditing standards. Specifically, the amendments (1) provide a definition of the term substantial doubt, (2) require an evaluation every reporting period including interim periods, (3) provide principles for considering the mitigating effect of management’s plans, (4) require certain disclosures when substantial doubt is alleviated as a result of consideration of management’s plans, (5) require an express statement and other disclosures when substantial doubt is not alleviated, and (6) require an assessment for a period of one year after the date that the financial statements are issued (or available to be issued). The amendments in this ASU are effective for the annual period ending after December 15, 2016, and for annual periods and interim periods thereafter. Early application is permitted. The Company anticipates that the adoption of this ASU will not have a material impact on its consolidated financial statements. In January 2015, the FASB issued ASU 2015-01, “Income Statement – Extraordinary and Unusual Items (Subtopic 225-20): Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items.” The amendments in this ASU eliminate the concept of extraordinary items. Eliminating the concept of extraordinary items will save time and reduce costs for preparers because they will not have to assess whether a particular event or transaction event is extraordinary (even if they ultimately would conclude it is not). This also alleviates uncertainty for preparers, auditors, and regulators because auditors and regulators no longer will need to evaluate whether a preparer treated an unusual and/or infrequent item appropriately. The presentation and disclosure guidance for items that are unusual in nature or occur infrequently will be retained and will be expanded to include items that are both unusual in nature and infrequently occurring. The amendments in this ASU are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. A reporting entity may apply the amendments prospectively. A reporting entity also may apply the amendments retrospectively to all prior periods presented in the financial statements. Early adoption is permitted provided that the guidance is applied from the beginning of the fiscal year of adoption. The Company anticipates that the adoption of this ASU will not have a material impact on its consolidated financial statements. In February 2015, the FASB issued ASU 2015-02, “Consolidation (Topic 810): Amendments to the Consolidation Analysis.” The amendments in this ASU affect reporting entities that are required to evaluate whether they should consolidate certain legal entities. Specifically, the amendments: (1) Modify the evaluation of whether limited partnerships and similar legal entities are variable interest entities (“VIEs”) or voting interest entities; (2) Eliminate the presumption that a general partner should consolidate a limited partnership; (3) Affect the consolidation analysis of reporting entities that are involved with VIEs, particularly those that have fee arrangements and related party relationships; and (4) Provide a scope exception from consolidation guidance for reporting entities with interests in legal entities that are required to comply with or operate in accordance with requirements that are similar to those in Rule 2a-7 of the Investment Company Act of 1940 for registered money market funds. ASU 2015-02 is effective for interim and annual reporting periods beginning after December 15, 2015. The Company anticipates that the adoption of this ASU will not have a material impact on its consolidated financial statements. In May 2015, the FASB issued ASU 2015-07, “Fair Value Measurement (Topic 820) – Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent).” The objective of this update is to address the diversity in practice related to how certain investments measured at net asset value with redemption dates in the future are categorized within the fair value hierarchy. The amendments in this update remove the requirement to categorize within the fair value hierarchy all investments for which fair value is measured using the net asset value per share practical expedient. The amendments also remove the requirement to make certain disclosures for all investments that are eligible to be measured at fair value using the net asset value per share practical expedient. Rather, those disclosures are limited to investments for which the entity has elected to measure the fair value using that practical expedient. The amendments in this update are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. Early adoption is permitted. The Company anticipates that the adoption of this ASU will not have a material impact on its consolidated financial statements.

INVESTMENTS IN SECURITIES

INVESTMENTS IN SECURITIES	9 Months Ended
	Sep. 30, 2015
INVESTMENTS IN SECURITIES	NOTE 3 - INVESTMENTS IN SECURITIES The amortized cost of available-for-sale (AFS) and held-to-maturity (HTM) securities and their approximate fair values were as follows at the dates indicated (in thousands): September 30, 2015 December 31, 2014 Amortized Gross Gross Fair Amortized Gross Gross Fair (unaudited) Available-for-sale securities: Corporate debt securities $ 22,145 $ 77 $ (197 ) $ 22,025 $ 22,199 $ 86 $ (206 ) $ 22,079 $ 22,145 $ 77 $ (197 ) $ 22,025 $ 22,199 $ 86 $ (206 ) $ 22,079 Held-to-maturity securities: U.S. government sponsored mortgage-backed securities $ 117,739 $ 1,101 $ (154 ) $ 118,686 $ 100,977 $ 1,019 $ (227 ) $ 101,769 Corporate debt securities 17,589 163 (30 ) 17,722 17,551 164 (37 ) 17,678 $ 135,328 $ 1,264 $ (184 ) $ 136,408 $ 118,528 $ 1,183 $ (264 ) $ 119,447 The amortized cost basis and estimated fair value of debt securities by contractual maturity at September 30, 2015 is as follows (in thousands and unaudited). Expected 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, 2015 Available-for-Sale Held-to-Maturity Amortized Fair Amortized Fair (unaudited) (unaudited) Due within one year $ — $ — $ 15 $ 16 Due after one year through five years 12,794 12,856 7,236 7,293 Due after five years through ten years 9,351 9,169 56,775 57,177 Due after ten years — — 71,302 71,922 $ 22,145 $ 22,025 $ 135,328 $ 136,408 When securities are sold, the adjusted cost of the specific security sold is used to compute the gain or loss on the sale. During the three and nine months ended September 30, 2015 (unaudited) and September 30, 2014 (unaudited), there were no sales of available-for-sale securities. Information pertaining to securities with gross unrealized losses aggregated by investment category and length of time that individual securities have been in a continuous loss position is as follows (in thousands): Less than 12 Months 12 Months or longer Fair Unrealized Fair Unrealized September 30, 2015 (unaudited): Available-for-sale Corporate debt securities $ 4,822 $ (1 ) $ 4,154 $ (196 ) Held-to-maturity Corporate debt securities 4,722 (30 ) — — U.S. government sponsored mortgage-backed securities 15,271 (71 ) 5,824 (83 ) Total temporarily impaired securities $ 24,815 $ (102 ) $ 9,978 $ (279 ) December 31, 2014: Available-for-sale Corporate debt securities $ — $ — $ 4,185 $ (206 ) Held-to-maturity Corporate debt securities 4,691 (37 ) — — U.S. government sponsored mortgage-backed securities 10,974 (34 ) 15,637 (193 ) Total temporarily impaired securities $ 15,665 $ (71 ) $ 19,822 $ (399 ) The investment securities portfolio is generally evaluated for other-than-temporary impairment under ASC 320-10, “Investments - Debt and Equity Securities.” Management evaluates securities for other-than-temporary impairment at least on a quarterly basis, and more frequently when economic or market concerns warrant such evaluation. At September 30, 2015 (unaudited), 19 debt securities were in an unrealized loss position. When there are securities in an unrealized loss position, consideration is given to (1) the length of time and the extent to which the fair value has been less than cost, (2) the financial condition and near-term prospects of the issuer, and (3) the intent and ability of the Company to retain its investment in the issuer for a period of time sufficient to allow for any anticipated recovery in fair value. Based on the Company’s September 30, 2015 (unaudited) quarterly review of securities in the investment portfolio, management has determined that unrealized losses related to 19 debt securities with aggregate depreciation of 1.08% from the Company’s amortized cost basis were caused primarily by changes in market interest rates. The contractual terms of these investments do not permit the companies to settle the security at a price less than the par value of the investment. The Company currently does not believe it is probable that it will be unable to collect all amounts due according to the contractual terms of the investments. Therefore, it is expected that the securities would not be settled at a price less than the par value of the investment. Because the Company does not intend to sell the investments and it is more likely than not that the Company will not be required to sell the investments before recovery of their amortized cost basis, it does not consider these investments to be other-than-temporarily impaired at September 30, 2015. At December 31, 2014, twenty one debt securities had unrealized losses with aggregate depreciation of 1.31% from the Company’s amortized cost basis. The Company’s unrealized losses on investments in corporate bonds and mortgage backed securities are primarily caused by changes in market interest rates. In addition to the securities listed above, the Company holds securities in a Rabbi Trust that are used to fund the executive and director non-qualified deferred compensation plan. These Rabbi Trust investments are included in other assets and consist primarily of cash and cash equivalents and actively traded mutual funds, and are recorded at fair value. The fair value of these Rabbi Trust investments at September 30, 2015 (unaudited) and December 31, 2014 was $2.35 million and $2.34 million, respectively. For the three and nine month periods ending September 30, 2015, the net loss on Rabbi Trust investments still held at the reporting date was $74,000 and $31,000, respectively. For the three and nine months periods ending September 30, 2014, the net loss and net gain on Rabbi Trust investments still held at the reporting date was $(44,000) and $31,000, respectively. Refer to Note 7 – Employee and Director Benefit Plans, for more information.

LOANS, ALLOWANCE FOR LOAN LOSSE

LOANS, ALLOWANCE FOR LOAN LOSSES AND CREDIT QUALITY	9 Months Ended
	Sep. 30, 2015
LOANS, ALLOWANCE FOR LOAN LOSSES AND CREDIT QUALITY	NOTE 4 – LOANS, ALLOWANCE FOR LOAN LOSSES AND CREDIT QUALITY Loans Loans that management has the intent and ability to hold for the foreseeable future or until maturity or pay-off generally are reported at their outstanding unpaid principal balances adjusted for charge-offs, the allowance for loan losses, deferred fees or costs on originated loans, and any premiums or discounts on purchased loans. Interest income is accrued on the unpaid principal balance. Loan origination fees, net of certain direct origination costs, are deferred and recognized as an adjustment of the related loan yield using the interest method. The accrual of interest on all loans is discontinued at the time the loan is 90 days past due unless the credit is well-secured and in process of collection. Past due status is based on contractual terms of the loan. In all cases, loans are placed on nonaccrual if collection of principal or interest is considered doubtful. All interest accrued but not collected for loans that are placed on nonaccrual is reversed against interest income. The interest on these loans is accounted for on the cash-basis or cost-recovery method, until qualifying for return to accrual. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured. Payments received on impaired loans are applied to reduce the recorded investment in the loan principal to the extent necessary to eliminate doubt as to the collectability of the net carrying amount of the loan. Some or all of the payments received on impaired loans are recognized as interest income if the remaining net carrying amount of the loan is deemed to be fully collectible. When recognition of interest income on an impaired loan on a cash basis is appropriate, the amount of income that is recognized is limited to that which would have been accrued on the net carrying amount of the loan at the contractual interest rate. Any cash interest payments received in excess of the limit and not applied to reduce the net carrying amount of the loan are recorded as recoveries of charge-offs until the charge-offs are fully recovered. Allowance for Loan Losses The allowance for loan losses is established as losses are estimated to have occurred through a provision for loan losses charged to earnings. Loan losses are charged against the allowance when management believes the uncollectability of a loan balance is confirmed. Subsequent recoveries, if any, are credited to the allowance. The allowance for loan losses is evaluated on a regular basis by management. This evaluation is inherently subjective as it requires estimates that are susceptible to significant revision as more information becomes available. The allowance consists of general, allocated and unallocated components, as further described below. General Component: The general component of the allowance for loan losses is based on historical loss experience adjusted for qualitative factors stratified by the following loan segments: residential real estate, home equity lines of credit, commercial real estate, construction, commercial, indirect auto and other consumer. Management uses a rolling average of historical losses based on a time frame appropriate to capture relevant loss data for each loan segment. This historical loss factor is adjusted for the following qualitative factors: levels/trends in delinquencies; trends in volume and terms of loans; effects of changes in risk selection and underwriting standards and other changes in lending policies, procedures and practices; experience/ability/depth of lending management and staff; and national and local economic trends and conditions. There were no changes in the Company’s policies or methodology pertaining to the general component of the allowance for loan losses during the nine months ended September 30, 2015 or during fiscal year 2014. The qualitative factors are determined based on the various risk characteristics of each loan segment. Risk characteristics relevant to each portfolio segment are as follows: Residential real estate loans and home equity lines of credit – The Company generally does not originate or purchase loans with a loan-to-value ratio greater than 80 percent and generally does not grant subprime loans. Loans in this segment are generally collateralized by owner-occupied residential real estate and repayment is dependent on the cash flow and credit quality of the individual borrower. The overall health of the economy, including unemployment rates and housing prices, will have an effect on the credit quality in this segment. Commercial real estate loans – Loans in this segment are primarily secured by income-producing properties in eastern Massachusetts. The underlying cash flows generated by the properties may be adversely impacted by a downturn in the economy and increased vacancy rates, which in turn, will have an effect on the credit quality in this segment. Management generally obtains rent rolls annually and continually monitors the cash flows of these borrowers. Construction loans – Loans in this segment primarily include speculative real estate development loans for which payment is derived from sale and/or lease up of the property. Credit risk is affected by cost overruns, time to sell, or lease at adequate prices, and market conditions. Commercial loans – Loans in this segment are made to businesses and are generally secured by assets of the business. Repayment is expected from the cash flows of the business. A weakened economy, and resultant decreased consumer and business spending, will have an effect on the credit quality in this segment. Indirect auto loans – Loans in this segment are secured installment loans that were originated through a network of select regional automobile dealerships. The Company’s interest in the vehicle is secured with a recorded lien on the state title of each automobile. Collections are sensitive to changes in borrower financial circumstances, and the collateral can depreciate or be damaged in the event of repossession. Repayment is primarily dependent on the credit worthiness and the cash flow of the individual borrower and secondarily, liquidation of the collateral. Other consumer loans - Loans in this segment include secured and unsecured consumer loans including passbook loans, consumer lines of credit and overdraft protection, and consumer unsecured loans. Repayment is dependent on the credit quality and the cash flow of the individual borrower. Allocated Component: The allocated component relates to loans that are classified as impaired. 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. The Company periodically may agree to modify the contractual terms of loans. When a loan is modified and a concession is made to a borrower experiencing financial difficulty, the modification is considered a troubled debt restructuring (“TDR”). All TDRs are classified as impaired. Impaired loans are measured based on the present value of expected future cash flows discounted at the loan’s effective interest rate or, as a practical expedient, at the loan’s observable market price or the fair value of the collateral if the loan is collateral-dependent. Generally, TDRs are measured for impairment using the discounted cash flow method except in instances where foreclosure is probable in which case the fair value of collateral method is used. When the fair value of the impaired loan is determined to be less than the recorded investment in the loan, the impairment is recorded through the valuation allowance. However, for collateral dependent loans, the amount of the recorded investment in a loan that exceeds the fair value of the collateral is charged-off against the allowance for loan losses in lieu of an allocation of a specific allowance amount when such an amount has been identified definitively as uncollectable. Unallocated Component: An unallocated component may be 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 allocated and general reserves in the portfolio. At September 30, 2015 (unaudited) and December 31, 2014, the Company had unallocated reserves of $200,000 and $171,000, respectively. Loans consisted of the following (dollars in thousands): September 30, 2015 December 31, 2014 Amount Percent Amount Percent (unaudited) Mortgage loans: Residential one-to-four family $ 635,393 44.45 % $ 450,572 38.16 % Commercial real estate loans (1) 425,314 29.75 395,178 33.47 Home equity 151,168 10.58 131,628 11.15 Construction loans 63,133 4.42 31,389 2.66 Total mortgage loans 1,275,008 89.20 1,008,767 85.44 Commercial loans 37,440 2.62 39,161 3.32 Consumer loans: Indirect auto loans 116,439 8.15 131,961 11.17 Other consumer loans 461 0.03 774 0.07 154,340 10.80 171,896 14.56 Total loans 1,429,348 100.00 % 1,180,663 100.00 % Net deferred loan costs 4,855 5,068 Net unamortized mortgage premiums 3,847 2,549 Allowance for loan losses (10,390 ) (8,881 ) Total loans, net $ 1,427,660 $ 1,179,399 (1) Includes multi-family real estate loans. The following tables (in thousands) present the activity in the allowance for loan losses by portfolio class for the three and nine months ended September 30, 2015 and 2014 (unaudited); and the balances of the allowance for loan losses and recorded investment in loans by portfolio class based on impairment method at September 30, 2015 (unaudited) and December 31, 2014. The recorded investment in loans in any of the following tables does not include accrued and unpaid interest or any deferred loan fees or costs, as amounts are not significant. Three Months Ended September 30, 2015 Beginning balance Provision (benefit) Charge-offs Recoveries Ending balance Residential one-to-four family $ 2,740 $ 627 $ (64 ) $ — $ 3,303 Commercial real estate 4,122 14 — — 4,136 Construction 585 248 — — 833 Commercial 355 44 — 24 423 Home equity 827 (196 ) — 199 830 Indirect auto 713 (27 ) (39 ) 5 652 Other consumer 12 — (3 ) 4 13 Unallocated 183 17 — — 200 Total $ 9,537 $ 727 $ (106 ) $ 232 $ 10,390 Three Months Ended September 30, 2014 Beginning balance Provision (benefit) Charge-offs Recoveries Ending balance Residential one-to-four family $ 2,249 $ (92 ) $ (375 ) $ — $ 1,782 Commercial real estate 3,958 193 — — 4,151 Construction 187 7 — — 194 Commercial 513 — — — 513 Home equity 706 197 (199 ) — 704 Indirect auto 824 (21 ) (12 ) 5 796 Other consumer 19 3 (9 ) 3 16 Unallocated 158 5 — — 163 Total $ 8,614 $ 292 $ (595 ) $ 8 $ 8,319 Nine Months Ended September 30, 2015 Beginning balance Provision (benefit) Charge-offs Recoveries Ending balance Residential one-to-four family $ 2,364 $ 1,003 $ (64 ) $ — $ 3,303 Commercial real estate 4,043 93 — — 4,136 Construction 228 605 — — 833 Commercial 458 (59 ) — 24 423 Home equity 828 (197 ) — 199 830 Indirect auto 778 (52 ) (98 ) 24 652 Other consumer 11 8 (11 ) 5 13 Unallocated 171 29 — — 200 Total $ 8,881 $ 1,430 $ (173 ) $ 252 $ 10,390 Nine Months Ended September 30, 2014 Beginning balance Provision (benefit) Charge-offs Recoveries Ending balance Residential one-to-four family $ 2,189 $ (32 ) $ (375 ) $ — $ 1,782 Commercial real estate 3,621 530 — — 4,151 Construction 134 60 — — 194 Commercial 419 98 (4 ) — 513 Home equity 681 222 (199 ) — 704 Indirect auto 749 82 (44 ) 9 796 Other consumer 26 4 (25 ) 11 16 Unallocated 139 24 — — 163 Total $ 7,958 $ 988 $ (647 ) $ 20 $ 8,319 September 30, 2015 Individually evaluated for impairment Collectively evaluated for impairment Total Loan balance Allowance Loan balance Allowance Loan balance Allowance Residential one-to-four family $ 4,303 $ 211 $ 631,090 $ 3,092 $ 635,393 $ 3,303 Commercial real estate 3,726 5 421,588 4,131 425,314 4,136 Construction — — 63,133 833 63,133 833 Commercial — — 37,440 423 37,440 423 Home equity 291 — 150,877 830 151,168 830 Indirect auto 15 — 116,424 652 116,439 652 Other consumer — — 461 13 461 13 Unallocated — — — 200 — 200 Total $ 8,335 $ 216 $ 1,421,013 $ 10,174 $ 1,429,348 $ 10,390 December 31, 2014 Individually evaluated for impairment Collectively evaluated for impairment Total Loan balance Allowance Loan balance Allowance Loan balance Allowance Residential one-to-four family $ 6,256 $ 188 $ 444,316 $ 2,176 $ 450,572 $ 2,364 Commercial real estate 3,882 5 391,296 4,038 395,178 4,043 Construction — — 31,389 228 31,389 228 Commercial — — 39,161 458 39,161 458 Home equity 296 — 131,332 828 131,628 828 Indirect auto 12 — 131,949 778 131,961 778 Other consumer — — 774 11 774 11 Unallocated — — — 171 — 171 Total $ 10,446 $ 193 $ 1,170,217 $ 8,688 $ 1,180,663 $ 8,881 Information about loans that meet the definition of an impaired loan in ASC 310-10-35 is as follows as of September 30, 2015 (unaudited and in thousands): Impaired loans with a related allowance for credit losses Recorded Unpaid Specific Residential one-to-four family $ 1,399 $ 1,412 $ 211 Commercial real estate 3,017 3,017 5 Totals $ 4,416 $ 4,429 $ 216 Impaired loans with no related allowance for credit losses Recorded Unpaid Specific Residential one-to-four family $ 2,904 $ 2,941 $ — Commercial real estate 709 709 — Home equity 291 297 — Indirect auto 15 15 — Totals $ 3,919 $ 3,962 $ — Information about loans that meet the definition of an impaired loan in ASC 310-10-35 is as follows as of December 31, 2014 (in thousands): Impaired loans with a related allowance for credit losses Recorded Unpaid Specific Residential one-to-four family $ 1,186 $ 1,186 $ 188 Commercial real estate 3,060 3,060 5 Totals $ 4,246 $ 4,246 $ 193 Impaired loans with no related allowance for credit losses Recorded Unpaid Specific Residential one-to-four family $ 5,070 $ 5,229 $ — Commercial real estate 822 822 — Home equity 296 298 — Indirect auto 12 12 — Totals $ 6,200 $ 6,361 $ — The following tables set forth information regarding interest income recognized on impaired loans, by portfolio, for the periods indicated (unaudited and in thousands): Three months ended September 30, 2015 Three months ended September 30, 2014 With an allowance recorded Average Interest Average Interest Residential one-to-four family $ 1,248 $ 8 $ 1,344 $ 3 Commercial real estate 3,021 31 3,078 32 Totals $ 4,269 $ 39 $ 4,422 $ 35 Three months ended September 30, 2015 Three months ended September 30, 2014 Without an allowance recorded Average Interest Income Average Interest Residential one-to-four family $ 4,206 $ 24 $ 3,532 $ 21 Commercial real estate 727 8 862 9 Home equity 291 2 431 2 Indirect auto 12 — — — Totals $ 5,236 $ 34 $ 4,825 $ 32 Nine months ended September 30, 2015 Nine months ended September 30, 2014 With an allowance recorded Average Interest Income Average Interest Residential one-to-four family $ 1,202 $ 25 $ 1,882 $ 110 Commercial real estate 3,036 93 3,092 84 Totals $ 4,238 $ 118 $ 4,974 $ 194 Nine months ended September 30, 2015 Nine months ended September 30, 2014 Without an allowance recorded Average Interest Average Interest Residential one-to-four family $ 4,764 $ 74 $ 3,265 $ 70 Commercial real estate 767 23 906 26 Home equity 293 6 387 7 Indirect auto 8 — — — Totals $ 5,832 $ 103 $ 4,558 $ 103 The following is a summary of past due and non-accrual loans (in thousands): September 30, 2015 (unaudited) 30–59 Days 60–89 Days 90 Days Total 90 days Loans on Real estate loans: Residential one-to-four family $ 440 $ — $ 641 $ 1,081 $ — $ 1,144 Home equity — — — — — 91 Other loans: Indirect auto 336 113 15 464 — 15 Total $ 776 $ 113 $ 656 $ 1,545 $ — $ 1,250 December 31, 2014 30–59 Days 60–89 Days 90 Days Total 90 days Loans on Non-accrual Real estate loans: Residential one-to-four family $ — $ 230 $ 2,432 $ 2,662 $ — $ 2,662 Home equity 270 — 96 366 — 96 Other loans: Indirect auto 463 45 12 520 — 12 Total $ 733 $ 275 $ 2,540 $ 3,548 $ — $ 2,770 Credit Quality Information The Company utilizes a seven grade internal loan rating system for commercial, commercial real estate and construction loans, and a five grade internal loan rating system for certain residential real estate, home equity and consumer loans that are rated if the loans become delinquent. Loans rated 1 - 3: Loans in these categories are considered “pass” rated loans with low to average risk. Loans rated 4: Loans in this category are considered “special mention.” These loans are starting to show signs of potential weakness and are being closely monitored by management. Loans rated 5: Loans in this category are considered “substandard.” Generally, a loan is considered substandard if it is inadequately protected by the current net worth and paying capacity of the obligors and/or the collateral pledged. There is a distinct possibility that the Company will sustain some loss if the weakness is not corrected. Loans rated 6: Loans in this category are considered “doubtful.” Loans classified as doubtful have all the weaknesses inherent in those classified substandard with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, highly questionable and improbable. Loans rated 7: Loans in this category are considered uncollectible (“loss”) and of such little value that their continuance as loans is not warranted. On an annual basis, or more often if needed, the Company formally reviews the ratings on all commercial, commercial real estate loans, and construction loans. On an annual basis, the Company engages an independent third party to review a significant portion of loans within these segments. Management uses the results of these reviews as part of its annual review process. On a quarterly basis, the Company formally reviews the ratings on all residential real estate and home equity loans if they have become delinquent. Criteria used to determine the rating consists of loan-to-value and days delinquent. The following tables present the Company’s loans by risk rating at September 30, 2015 (unaudited and in thousands) and December 31, 2014 (in thousands). There were no loans rated as 6 (“doubtful”) or 7 (“loss”) at the dates indicated. September 30, 2015 Loans rated 1-3 Loans rated 4 Loans rated 5 Loans not rated (A) Total Residential one-to-four family $ — $ 361 $ 1,870 $ 633,162 $ 635,393 Commercial real estate 419,831 758 4,725 — 425,314 Construction 63,133 — — — 63,133 Commercial 37,440 — — — 37,440 Home equity — — 890 150,278 151,168 Indirect auto — — — 116,439 116,439 Other consumer — — — 461 461 Total $ 520,404 $ 1,119 $ 7,485 $ 900,340 $ 1,429,348 December 31, 2014 Loans rated 1-3 Loans rated 4 Loans rated 5 Loans not rated (A) Total Residential one-to-four family $ — $ 1,134 $ 3,400 $ 446,038 $ 450,572 Commercial real estate 386,513 — 8,665 — 395,178 Construction 31,389 — — — 31,389 Commercial 39,159 2 — — 39,161 Home equity — — 895 130,733 131,628 Indirect auto — — — 131,961 131,961 Consumer — — — 774 774 Total $ 457,061 $ 1,136 $ 12,960 $ 709,506 $ 1,180,663 (A) Residential real estate and home equity loans are not formally risk rated by the Company unless the loans become delinquent. The Company periodically modifies loans to extend the term or make other concessions to help a borrower stay current on their loan and to avoid foreclosure. Any loans that are modified are reviewed by the Company to identify if a TDR has occurred, which is when, for economic or legal reasons related to a borrower’s financial difficulties, the Bank grants a concession to the borrower that it would not otherwise consider. During the three and nine months ended September 30, 2015, there was one loan modified and determined to be a TDR. During the three and nine months ended September 30, 2014, no new loans were modified and determined to be troubled debt restructurings, however, three loans that had already been determined to be TDRs were remodified. At September 30, 2015, the Company had $7.59 million of troubled debt restructurings related to ten loans. The following table shows the Company’s total TDRs and other pertinent information as of the dates indicated (in thousands): September 30, 2015 December 31, 2014 (unaudited) TDRs on Accrual Status $ 7,085 $ 7,675 TDRs on Nonaccrual Status 503 1,551 Total TDRs $ 7,588 $ 9,226 Amount of specific allocation included in the allowance for loan losses associated with TDRs $ 174 $ 174 Additional commitments to lend to a borrower who has been a party to a TDR $ — $ — The following tables show the troubled debt restructuring modifications which occurred during the periods indicated and the change in the recorded investment subsequent to the modifications occurring (dollars in thousands and unaudited): Three months ended Three months ended # of Pre-modification Post-modification # of Pre-modification Post-modification Real estate loans: Residential one-to-four family 1 $ 463 $ 507 — $ — $ — Total 1 $ 463 $ 507 — $ — $ — Nine months ended Nine months ended # of Pre-modification Post-modification # of Pre-modification Post-modification Real estate loans: Residential one-to-four family 1 $ 463 $ 507 1 $ 1,700 $ 1,700 Home equity — — — 1 200 200 Commercial real estate — — — 1 882 882 Total 1 $ 463 $ 507 3 $ 2,782 $ 2,782 The three loans remodified during the nine months ended September 30, 2014 were TDRs that have been modified more than once. There was no financial impact due to these modifications. The following table shows the Company’s post-modification balance of TDRs listed by type of modification during the periods indicated (in thousands): Three months ended Three months ended (unaudited) (unaudited) Interest only period 507 — Total $ 507 $ — Nine months ended Nine months ended (unaudited) (unaudited) Extended Maturity $ — $ 882 Interest only period 507 1,900 Total $ 507 $ 2,782 The Company considers a TDR loan to have defaulted when it reaches 90 days past due. There were no TDRs that have been modified during the twelve months ending on September 30, 2015 which have subsequently defaulted during the three and nine month periods ending on September 30, 2015. There were two TDRs in the amount of $1.9 million that have been modified during the twelve months ending on September 30, 2014 which have subsequently defaulted during the nine month period ending on September 30, 2014. During the three months ended September 30, 2014, we recorded charge offs of $573,000 related to these two loans. The loans previously had specific allowances of $555,000. Foreclosure Proceedings Consumer mortgage loans collateralized by residential real estate property that are in the process of foreclosure totaled $641,000 as of September 30, 2015. The carrying amount of foreclosed residential real estate property totaled $1.51 million as of September 30, 2015 and is recorded in other real estate owned in the consolidated balance sheets. There was no other real estate owned as of December 31, 2014.

TRANSFERS AND SERVICING

TRANSFERS AND SERVICING	9 Months Ended
	Sep. 30, 2015
TRANSFERS AND SERVICING	NOTE 5 – TRANSFERS AND SERVICING Certain residential mortgage loans are periodically sold by the Company to the secondary market. Generally, these loans are sold without recourse or other credit enhancements. The Company sells loans and both releases and retains the servicing rights. For loans sold with the servicing rights retained, we provide the servicing for the loans on a per-loan fee basis. The Company also periodically sells auto loans to other financial institutions without recourse or other credit enhancements, and the Company generally provides servicing for these loans. At September 30, 2015 (unaudited) and December 31, 2014, residential loans previously sold and serviced by the Company were $66.57 million and $69.49 million, respectively. At September 30, 2015 (unaudited) and December 31, 2014, indirect auto loans previously sold and serviced by the Company were $66.65 million and $94.68 million, respectively. On March 16, 2006, seventeen loans with an aggregate principal balance of $10.5 million were sold to another financial institution. The agreement related to this sale contains provisions requiring the Company to repurchase any loan that becomes 90 days past due during the initial 120 months. The Company will repurchase the past due loan for 100 percent of the unpaid principal plus interest to repurchase date. As of September 30, 2015 (unaudited) and December 31, 2014, the principal balance of these loans sold with recourse amounted to $1.03 million and $1.07 million, respectively. The Company has not incurred any losses related to the loans sold with recourse. Mortgage servicing rights (MSR) are initially recorded as an asset and measured at fair value when loans are sold to third parties with servicing rights retained. MSR assets are amortized in proportion to, and over the period of, estimated net servicing revenues. The carrying value of these assets is periodically reviewed for impairment using the lower of amortized cost or fair value methodology. The fair value of the servicing rights is determined by estimating the present value of future net cash flows, taking into consideration market loan prepayment speeds, discount rates, servicing costs and other economic factors. For purposes of measuring impairment, the underlying loans are stratified into relatively homogeneous pools based on predominant risk characteristics which include product type (i.e., fixed or adjustable) and interest rate bands. If the aggregate carrying value of the capitalized mortgage servicing rights for a stratum exceeds its fair value, MSR impairment is recognized in earnings through a valuation allowance for the difference. As the loans are repaid and net servicing revenue is earned, the MSR asset is amortized as an offset to loan servicing income. Servicing revenues are expected to exceed this amortization expense. However, if actual prepayment experience or defaults exceed what was originally anticipated, net servicing revenues may be less than expected and mortgage servicing rights may be impaired. No servicing assets or liabilities related to auto loans were recorded, as the contractual servicing fees are adequate to compensate the Company for its servicing responsibilities. Changes in mortgage servicing rights, which are included in other assets, were as follows (in thousands): Three months ended September 30, Nine months ended September 30, 2015 2014 2015 2014 (unaudited) (unaudited) Balance at beginning of period $ 475 $ 402 $ 476 $ 411 Capitalization 16 56 93 85 Amortization (24 ) (20 ) (71 ) (56 ) Valuation allowance adjustment 13 15 (18 ) 13 Balance at end of period $ 480 $ 453 $ 480 $ 453

SECURITIES SOLD UNDER AGREEMENT

SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE AND OTHER BORROWED FUNDS	9 Months Ended
	Sep. 30, 2015
SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE AND OTHER BORROWED FUNDS	NOTE 6 – SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE AND OTHER BORROWED FUNDS The securities sold under agreements to repurchase as of September 30, 2015 (unaudited) and December 31, 2014 are securities sold on a short-term basis by the Company that have been accounted for not as sales but as borrowings. The securities consisted of mortgage backed securities issued by U.S. government sponsored entities. The securities were held in the Company’s safekeeping account at the Federal Home Loan Bank of Boston under the control of the Company. The securities are pledged to the purchasers of the securities. The purchasers have agreed to sell to the Company substantially identical securities at the maturity of the agreements. The balance of securities sold under agreements to repurchase as of September 30, 2015 and December 31, 2014 was $2.39 million and $1.39 million, respectively. Other borrowed funds consist of the recourse obligation recorded in connection with the loans sold with recourse discussed in Note 5. The balance of the recourse obligation at September 30, 2015 (unaudited) and December 31, 2014 was $1.03 million and $1.07 million, respectively.

EMPLOYEE AND DIRECTOR BENEFIT P

EMPLOYEE AND DIRECTOR BENEFIT PLANS	9 Months Ended
	Sep. 30, 2015
EMPLOYEE AND DIRECTOR BENEFIT PLANS	NOTE 7 – EMPLOYEE AND DIRECTOR BENEFIT PLANS Supplemental Retirement Plans The Company has supplemental retirement plans for eligible executive officers that provide for a lump sum benefit upon termination of employment at or after age 55 and completing 10 or more years of service (certain reduced benefits are available prior to attaining age 55 or fewer than 10 years of service), subject to certain limitations as set forth in the agreements. The present value of these future payments is being accrued over the service period. The estimated liability at September 30, 2015 (unaudited) and December 31, 2014 relating to these plans was $1.95 million and $1.77 million, respectively. The Company has a supplemental retirement plan for eligible directors that provides for monthly benefits based upon years of service to the Company, subject to certain limitations as set forth in the agreements. The present value of these future payments is being accrued over the estimated period of service. The estimated liability at September 30, 2015 (unaudited) and December 31, 2014 relating to this plan was $647,000 and $648,000, respectively. Effective October 1, 2010, the Company established the Belmont Savings Bank Supplemental Executive Retirement Plan (“Plan”). The purpose of the Plan is to permit certain executive officers of the Company to receive supplemental retirement income from the Company. At September 30, 2015 (unaudited) and December 31, 2014, there were four participants in the Plan. Participants are fully vested after the completion of between five and ten years of service. The plan is unfunded. The estimated liability at September 30, 2015 (unaudited) and December 31, 2014 relating to this plan was $1.21 million and $985,000, respectively. Incentive Compensation Plan The Incentive Compensation Plan is a discretionary annual cash-based incentive plan that is an integral part of the participant’s total compensation package and supports the continued growth, profitability and risk management of Belmont Savings Bank. Each year participants are awarded for the achievement of certain performance objectives on a company-wide and individual basis. Compensation expense recognized was $487,000 and $464,000 for the three months ended September 30, 2015 and 2014 (unaudited), respectively, and $1.41 million and $1.32 million for the nine months ended September 30, 2015 and 2014 (unaudited), respectively. Defined Contribution Plan The Company sponsors a 401(k) plan covering substantially all employees meeting certain eligibility requirements. Under the provisions of the plan, employees are able to contribute up to an annual limit of the lesser of 75% of eligible compensation or the maximum allowed by the Internal Revenue Service. The Company’s contributions for the three months ended September 30, 2015 and 2014 (unaudited) totaled $217,000 and $223,000, respectively, and $646,000 and $579,000 for the nine months ended September 30, 2015 and 2014 (unaudited), respectively. Deferred Compensation Plan The Company has a compensation deferral plan by which selected employees and directors of the Company are entitled to elect, prior to the beginning of each year, to defer the receipt of an amount of their compensation for the forthcoming year. Each agreement allows for the individual to elect to defer a portion of his or her compensation to an individual deferred compensation account established by Belmont Savings Bank. In April 2013, Belmont Savings Bank created a Rabbi Trust, or grantor trust. The Rabbi Trust is maintained by the Company primarily for purposes of holding deferred compensation for certain directors and employees of the Company. The plan is administered by a third party and permits participants to select from a number of investment options for the investment of their account balances. Each participant is always 100% vested in his or her deferred compensation account balance. As of September 30, 2015 (unaudited) and December 31, 2014, the recorded liability relating to the Rabbi Trust was $2.35 million and $2.34 million, respectively. Capital Appreciation Plan Effective September 30, 2010, the Company established the Capital Appreciation Plan. The purpose of this plan was to attract, retain, and motivate certain key employees and directors of the Company. Awards were calculated based on capital appreciation of the Bank and the Bank’s return on average assets, entitling the employee or director to a specific percentage of the Employee or Trustee Capital Appreciation Pool as outlined in the plan. The vesting period ended on June 30, 2014 and the plan was completed. Participants were paid lump sums totaling $266,000. The Company did not recognize any expense in relation to the plan during the three and nine months ended September 30, 2015. The Company recognized $0 and $61,000 in relation to the plan during the three and nine months ended September 30, 2014 (unaudited), respectively. Employee Stock Ownership Plan The Company maintains an Employee Stock Ownership Plan (“ESOP”) to provide eligible employees the opportunity to own Company stock. This plan is a tax-qualified retirement plan for the benefit of all Company employees. Contributions are allocated to eligible participants on the basis of compensation, subject to federal tax law limits. The Company contributed funds to a subsidiary to enable it to grant a loan to the ESOP for the purchase of 458,643 shares of the Company’s common stock at a price of $10.00 per share. The loan obtained by the ESOP from the Company’s subsidiary to purchase Company common stock is payable annually over 30 years at a rate per annum equal to the Prime Rate (3.25% at September 30, 2015). Loan payments are principally funded by cash contributions from the Bank. The loan is secured by the shares purchased, which are held in a suspense account for allocation among participants as the loan is repaid. Cash dividends paid on allocated shares are distributed to participants and cash dividends paid on unallocated shares are used to repay the outstanding debt of the ESOP. Shares used as collateral to secure the loan are released and available for allocation to eligible employees as the principal and interest on the loan is paid. The Company incurred expenses of $79,000 and $67,000 for the three months ended September 30, 2015 and 2014 (unaudited), respectively, and $235,000 and $195,000 for the nine months ended September 30, 2015 and 2014 (unaudited), respectively. Severance Agreements The Company has entered into employment agreements and change in control agreements with certain executive officers which would provide the executive officers with severance payments based on salary, and the continuation of other benefits, upon a change in control as defined in the agreements.

PLEDGED ASSETS

PLEDGED ASSETS	9 Months Ended
	Sep. 30, 2015
PLEDGED ASSETS	NOTE 8 – PLEDGED ASSETS The following securities and loans were pledged to secure securities sold under agreements to repurchase, FHLB advances and credit facilities available (in thousands). September 30, 2015 (unaudited) Securities held-to- Loans Total pledged Repurchase agreements $ 6,040 $ — $ 6,040 FHLB borrowings 50,999 623,520 674,519 Federal Reserve Bank LOC 15,691 — 15,691 Total pledged assets $ 72,730 $ 623,520 $ 696,250 December 31, 2014 Securities held-to- Loans Total pledged Repurchase agreements $ 3,830 $ — $ 3,830 FHLB borrowings 51,062 518,375 569,437 Federal Reserve Bank LOC 15,662 — 15,662 Total pledged assets $ 70,554 $ 518,375 $ 588,929

EARNINGS PER SHARE

EARNINGS PER SHARE	9 Months Ended
	Sep. 30, 2015
EARNINGS PER SHARE	NOTE 9 – EARNINGS PER SHARE Basic earnings per share (“EPS”) excludes dilution and is calculated by dividing net income allocated to common stockholders by the weighted-average number of shares of common stock outstanding during the period. Diluted EPS is computed in a manner similar to that of basic EPS except that the weighted-average number of common shares outstanding is increased to include the number of incremental common shares (computed using the treasury stock method) that would have been outstanding if all potentially dilutive common stock equivalents (such as stock options and unvested restricted stock not meeting the definition of a participating security) were issued during the period. Earnings per share consisted of the following components for the periods indicated (unaudited and dollars in thousands except per share data): Three months ended Nine months ended September 30, 2015 2014 2015 2014 Net income $ 1,868 $ 1,202 $ 4,845 $ 2,924 Undistributed earnings attributable to participating securities (47 ) (40 ) (121 ) (97 ) Net income allocated to common stockholders $ 1,821 $ 1,162 $ 4,724 $ 2,827 Weighted average shares outstanding, basic 8,468,527 8,358,592 8,453,768 8,352,936 Effect of dilutive shares 221,465 98,592 205,419 71,079 Weighted average shares outstanding, assuming dilution 8,689,992 8,457,184 8,659,187 8,424,015 Basic EPS $ 0.22 $ 0.14 $ 0.56 $ 0.34 Effect of dilutive shares (0.01 ) — (0.01 ) — Diluted EPS $ 0.21 $ 0.14 $ 0.55 $ 0.34 The following table illustrates average options to purchase shares of common stock that were outstanding but not included in the computation of EPS because they were antidilutive under the treasury stock method (unaudited): Three months ended September 30, Nine months ended September 30, 2015 2014 2015 2014 Stock options 23,242 33,760 17,500 5,604 Unallocated common shares held by the ESOP are shown as a reduction in stockholders’ equity and are not included in the weighted-average number of common shares outstanding for either basic or diluted earnings per share calculations. On June 22, 2013, the Company’s Board of Directors authorized a program to repurchase, from time-to-time and as market and business conditions warrant, up to 500,000 shares of the Company’s common stock. During the nine months ended September 30, 2015 and 2014, the Company did not repurchase any shares under the repurchase program.

STOCK BASED COMPENSATION

STOCK BASED COMPENSATION	9 Months Ended
	Sep. 30, 2015
STOCK BASED COMPENSATION	NOTE 10 – STOCK BASED COMPENSATION The following table presents the pre-tax expense associated with stock options and restricted stock awards and the related tax benefits recognized (in thousands and unaudited): Three months Three months Nine months Nine months Stock options $ 203 $ 208 $ 589 $ 642 Restricted stock awards 224 224 648 685 Total stock based compensation expense $ 427 $ 432 $ 1,237 $ 1,327 Related tax benefits recognized in earnings $ 123 $ 123 $ 359 $ 388 Total compensation cost related to non-vested awards not yet recognized and the weighted average period (in years) over which it is expected to be recognized is as follows (in thousands): As of September 30, 2015 As of December 31, 2014 (unaudited) Amount Weighted Amount Weighted Stock options $ 1,651 2.32 $ 2,195 3.01 Restricted stock 1,755 2.20 2,313 2.94 Total $ 3,406 $ 4,508

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	9 Months Ended
	Sep. 30, 2015
FAIR VALUE MEASUREMENTS	NOTE 11 – FAIR VALUE MEASUREMENTS Determination of Fair Value The fair value of an asset or liability is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Company uses prices and inputs that are current as of the measurement date, including during periods of market dislocation. In periods of market dislocation, the observability of prices and inputs may be reduced for many instruments. This condition could cause an instrument to be reclassified from one level to another. Fair value is best determined based upon quoted market prices. However, in many instances, there are no quoted market prices for the Company’s various assets and liabilities. In cases where quoted market prices are not available, fair values are based on estimates using present value of cash flows or other valuation techniques. Those techniques are significantly affected by the assumptions used, including the discount rate and estimates of future cash flows. Accordingly, the fair value estimates may not be realized in an immediate settlement of the instrument. The Company groups its assets and liabilities measured at fair value in three levels, based on the markets in which the assets and liabilities are traded and the observability and reliability of the assumptions used to determine fair value. Level 1 - Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. Level 2 - Level 2 inputs are inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. Level 3 - Level 3 inputs are unobservable inputs for the asset or liability. For assets and liabilities, fair value is based upon the lowest level of input that is significant to the fair value measurement. In general, fair value is based upon quoted market prices, where available. If such quoted market prices are not available, fair value is based upon models that primarily use, as inputs, observable market based parameters. The Company’s valuation methodologies may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. While management believes the Company’s valuation methodologies are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different estimate of fair value at the reporting date. Furthermore, the reported fair value amounts have not been comprehensively revalued since the presentation dates, and therefore, estimates of fair value after the balance sheet date may differ significantly from the amounts presented herein. A more detailed description of the valuation methodologies used for assets and liabilities measured at fair value is set forth below. A description of the valuation methodologies used for instruments measured at fair value, as well as the general classification of such instruments pursuant to the valuation hierarchy, is set forth below. These valuation methodologies were applied to all of the Company’s financial assets and financial liabilities carried at fair value for September 30, 2015 and December 31, 2014. There were no significant transfers between level 1 and level 2 of the fair value hierarchy during the three and nine months ended September 30, 2015 (unaudited) and the year ended December 31, 2014. Financial Assets and Financial Liabilities: Financial assets and financial liabilities measured at fair value on a recurring basis include the following: Securities Available for Sale Rabbi Trust Investments The following table summarizes financial assets measured at fair value on a recurring basis as of September 30, 2015 and December 31, 2014, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value (in thousands): Level 1 Level 2 Level 3 Total (unaudited) At September 30, 2015 Securities available-for-sale Corporate debt securities $ — $ 22,025 $ — $ 22,025 Trading securities Rabbi trust investments 2,348 — — 2,348 Totals $ 2,348 $ 22,025 $ — $ 24,373 Level 1 Level 2 Level 3 Total At December 31, 2014 Securities available-for-sale Corporate debt securities $ — $ 22,079 $ — $ 22,079 Trading securities Rabbi trust investments 2,336 — — 2,336 Totals $ 2,336 $ 22,079 $ — $ 24,415 Certain financial assets and financial liabilities are measured at fair value on a nonrecurring basis; that is, the instruments are not measured at fair value on an ongoing basis but are subject to fair value adjustments in certain circumstances (for example, when there is evidence of impairment). Financial assets measured at fair value on a non-recurring basis during the reported periods include certain impaired loans reported at the fair value of the underlying collateral. Fair value was measured using appraised values of collateral and adjusted as necessary by management based on unobservable inputs for specific properties. However, the choice of observable data is subject to significant judgment, and there are often adjustments based on judgment in order to make observable data comparable and to consider the impact of time, the condition of properties, interest rates, and other market factors on current values. Additionally, commercial real estate appraisals frequently involve discounting of projected cash flows, which relies inherently on unobservable data. Therefore, real estate collateral related nonrecurring fair value measurement adjustments have generally been classified as Level 3. Estimates of fair value used for other collateral supporting commercial loans generally are based on assumptions not observable in the marketplace and therefore such valuations have been classified as Level 3. The following table (in thousands) presents certain impaired loans that were re-measured and reported at fair value through a specific valuation allowance allocation of the allowance for loan losses or charge off based upon the fair value of the underlying collateral at September 30, 2015 (unaudited) and December 31, 2014. September 30, 2015 Level 1 Level 2 Level 3 Impaired loans $ — $ — $ 599 Totals $ — $ — $ 599 December 31, 2014 Level 1 Level 2 Level 3 Impaired loans $ — $ — $ 1,951 Totals $ — $ — $ 1,951 Non-Financial Assets and Non-Financial Liabilities The following table (in thousands) presents the non-financial assets that were re-measured and reported at the lower of cost or fair value at the periods indicated: September 30, 2015 Level 1 Level 2 Level 3 (unaudited) Mortgage servicing rights $ — $ — $ 480 Other real estate owned — — 1,513 Totals $ — $ — $ 1,993 December 31, 2014 Level 1 Level 2 Level 3 Mortgage servicing rights $ — $ — $ 476 Totals $ — $ — $ 476 ASC Topic 825, “Financial Instruments,” requires disclosure of the fair value of financial assets and financial liabilities, including those financial assets and financial liabilities that are not measured and reported at fair value on a recurring basis or non-recurring basis. The methodologies for estimating the fair value of financial assets and financial liabilities that are measured at fair value on a recurring or non-recurring basis are discussed above. The estimated fair value approximates carrying value for cash and cash equivalents, FHLB stock, accrued interest, bank owned life insurance, securities sold under agreements to repurchase and mortgagors’ escrow accounts. The methodologies for other significant financial assets and financial liabilities are discussed below: Securities held to maturity-The fair values presented are based on quoted market prices, where available. If quoted market prices are not available, fair values are based on quoted market prices of comparable instruments and/or discounted cash flow analyses. Loans- For variable-rate loans that reprice frequently and with no significant change in credit risk, fair values are based on carrying values. The fair values for other loans are estimated using discounted cash flow analyses, using interest rates currently being offered for loans with similar terms to borrowers of similar credit quality. Deposits- The fair values disclosed for demand deposits (e.g., interest and non-interest 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). Fair values for fixed-rate certificate accounts are estimated using a discounted cash flow calculation that applies interest rates currently being offered on certificates to a schedule of aggregated expected monthly maturities on certificate accounts. FHLB advances- The fair values of the Company’s FHLB advances are estimated using discounted cash flow analyses based on the current incremental borrowing rates in the market for similar types of borrowing arrangements. Other borrowed funds-This balance represents the balance of loans sold with recourse. Fair values are determined consistent with that of our loans. Summary of Fair Values of Financial Instruments not Carried at Fair Value The estimated fair values, and related carrying or notional amounts, of the Company’s financial instruments are as follows (in thousands): September 30, 2015 Carrying Fair Level 1 Level 2 Level 3 (unaudited) Financial assets: Cash and cash equivalents $ 42,600 $ 42,600 $ 42,600 $ — $ — Interest-bearing time deposits with other banks 131 132 — 132 — Held-to-maturity securities 135,328 136,408 — 136,408 — Federal Home Loan Bank stock 16,774 16,774 — 16,774 — Loans, net 1,427,660 1,422,433 — — 1,422,433 Accrued interest receivable 3,608 3,608 3,608 — — Bank owned life insurance 29,529 29,529 — 29,529 — Financial liabilities: Deposits 1,208,571 1,211,597 950,837 260,760 — Federal Home Loan Bank advances 319,600 320,862 — 320,862 — Securities sold under agreements to repurchase 2,386 2,386 — 2,386 — Other borrowed funds 1,032 1,019 — 1,019 — Accrued interest payable 1,025 1,025 1,025 — — Mortgagors’ escrow accounts 2,344 2,344 — 2,344 — December 31, 2014 Carrying Fair Level 1 Level 2 Level 3 Financial assets: Cash and cash equivalents $ 51,767 $ 51,767 $ 51,767 $ — $ — Interest-bearing time deposits with other banks 131 132 — 132 — Held-to-maturity securities 118,528 119,447 — 119,447 — Federal Home Loan Bank stock 13,712 13,712 — 13,712 — Loans, net 1,179,399 1,170,663 — — 1,170,663 Accrued interest receivable 2,977 2,977 2,977 — — Bank owned life insurance 23,888 23,888 — 23,888 — Financial liabilities: Deposits 984,562 987,353 758,349 229,004 — Federal Home Loan Bank advances 285,100 285,266 — 285,266 — Securities sold under agreements to repurchase 1,392 1,392 — 1,392 — Other borrowed funds 1,067 1,056 — 1,056 — Accrued interest payable 961 961 961 — — Mortgagors’ escrow accounts 1,726 1,726 — 1,726 —

OTHER COMPREHENSIVE INCOME

OTHER COMPREHENSIVE INCOME	9 Months Ended
	Sep. 30, 2015
OTHER COMPREHENSIVE INCOME	NOTE 12 – OTHER COMPREHENSIVE INCOME Three months ended September 30, 2015 Three months ended September 30, 2014 Pre Tax Tax After Tax Pre Tax Tax After Tax Securities available-for-sale: Change in unrealized gain/loss during the period $ 18 $ (7 ) $ 11 $ 56 $ (20 ) $ 36 Total securities available-for-sale 18 (7 ) 11 56 (20 ) 36 Other comprehensive income $ 18 $ (7 ) $ 11 $ 56 $ (20 ) $ 36 Nine months ended September 30, 2015 Nine months ended September 30, 2014 Pre Tax Tax After Tax Pre Tax Tax After Tax Securities available-for-sale: Change in unrealized gain/loss during the period $ — $ — $ — $ 379 $ (149 ) $ 230 Total securities available-for-sale — — — 379 (149 ) 230 Other comprehensive income $ — $ — $ — $ 379 $ (149 ) $ 230 Information on the Company’s accumulated other comprehensive (loss) income, net of tax is comprised of the following components as of the periods indicated (unaudited and in thousands): Net unrealized (loss) gain on securities available for sale Unrecognized actuarial gain on defined benefit pension plan Accumulated other comprehensive (loss) income Beginning balance: January 1, 2015 $ (72 ) $ 50 $ (22 ) Other comprehensive income — — — Ending balance: September 30, 2015 $ (72 ) $ 50 $ (22 ) Beginning balance: January 1, 2014 $ (210 ) $ 22 $ (188 ) Other comprehensive income 230 — 230 Ending balance: September 30, 2014 $ 20 $ 22 $ 42

INVESTMENTS IN SECURITIES (Tabl

INVESTMENTS IN SECURITIES (Tables)	9 Months Ended
	Sep. 30, 2015
Amortized Cost and Fair Value of Available for Sale and Held-to-Maturity Securities	The amortized cost of available-for-sale (AFS) and held-to-maturity (HTM) securities and their approximate fair values were as follows at the dates indicated (in thousands): September 30, 2015 December 31, 2014 Amortized Gross Gross Fair Amortized Gross Gross Fair (unaudited) Available-for-sale securities: Corporate debt securities $ 22,145 $ 77 $ (197 ) $ 22,025 $ 22,199 $ 86 $ (206 ) $ 22,079 $ 22,145 $ 77 $ (197 ) $ 22,025 $ 22,199 $ 86 $ (206 ) $ 22,079 Held-to-maturity securities: U.S. government sponsored mortgage-backed securities $ 117,739 $ 1,101 $ (154 ) $ 118,686 $ 100,977 $ 1,019 $ (227 ) $ 101,769 Corporate debt securities 17,589 163 (30 ) 17,722 17,551 164 (37 ) 17,678 $ 135,328 $ 1,264 $ (184 ) $ 136,408 $ 118,528 $ 1,183 $ (264 ) $ 119,447
Amortized Cost Basis and Estimated Fair Value of Debt Securities by Contractual Maturity	The amortized cost basis and estimated fair value of debt securities by contractual maturity at September 30, 2015 is as follows (in thousands and unaudited). Expected 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, 2015 Available-for-Sale Held-to-Maturity Amortized Fair Amortized Fair (unaudited) (unaudited) Due within one year $ — $ — $ 15 $ 16 Due after one year through five years 12,794 12,856 7,236 7,293 Due after five years through ten years 9,351 9,169 56,775 57,177 Due after ten years — — 71,302 71,922 $ 22,145 $ 22,025 $ 135,328 $ 136,408
Securities with Gross Unrealized Losses Aggregated by Investment Category and Length of Time	Information pertaining to securities with gross unrealized losses aggregated by investment category and length of time that individual securities have been in a continuous loss position is as follows (in thousands): Less than 12 Months 12 Months or longer Fair Unrealized Fair Unrealized September 30, 2015 (unaudited): Available-for-sale Corporate debt securities $ 4,822 $ (1 ) $ 4,154 $ (196 ) Held-to-maturity Corporate debt securities 4,722 (30 ) — — U.S. government sponsored mortgage-backed securities 15,271 (71 ) 5,824 (83 ) Total temporarily impaired securities $ 24,815 $ (102 ) $ 9,978 $ (279 ) December 31, 2014: Available-for-sale Corporate debt securities $ — $ — $ 4,185 $ (206 ) Held-to-maturity Corporate debt securities 4,691 (37 ) — — U.S. government sponsored mortgage-backed securities 10,974 (34 ) 15,637 (193 ) Total temporarily impaired securities $ 15,665 $ (71 ) $ 19,822 $ (399 )

LOANS, ALLOWANCE FOR LOAN LOS21

LOANS, ALLOWANCE FOR LOAN LOSSES AND CREDIT QUALITY (Tables)	9 Months Ended
	Sep. 30, 2015
Summary of Loans	Loans consisted of the following (dollars in thousands): September 30, 2015 December 31, 2014 Amount Percent Amount Percent (unaudited) Mortgage loans: Residential one-to-four family $ 635,393 44.45 % $ 450,572 38.16 % Commercial real estate loans (1) 425,314 29.75 395,178 33.47 Home equity 151,168 10.58 131,628 11.15 Construction loans 63,133 4.42 31,389 2.66 Total mortgage loans 1,275,008 89.20 1,008,767 85.44 Commercial loans 37,440 2.62 39,161 3.32 Consumer loans: Indirect auto loans 116,439 8.15 131,961 11.17 Other consumer loans 461 0.03 774 0.07 154,340 10.80 171,896 14.56 Total loans 1,429,348 100.00 % 1,180,663 100.00 % Net deferred loan costs 4,855 5,068 Net unamortized mortgage premiums 3,847 2,549 Allowance for loan losses (10,390 ) (8,881 ) Total loans, net $ 1,427,660 $ 1,179,399 (1) Includes multi-family real estate loans.
Activity in Allowance for Loan Losses by Portfolio Class and Balances of Allowance for Loan Losses and Recorded Investment in Loans by Portfolio Class	The following tables (in thousands) present the activity in the allowance for loan losses by portfolio class for the three and nine months ended September 30, 2015 and 2014 (unaudited); and the balances of the allowance for loan losses and recorded investment in loans by portfolio class based on impairment method at September 30, 2015 (unaudited) and December 31, 2014. The recorded investment in loans in any of the following tables does not include accrued and unpaid interest or any deferred loan fees or costs, as amounts are not significant. Three Months Ended September 30, 2015 Beginning balance Provision (benefit) Charge-offs Recoveries Ending balance Residential one-to-four family $ 2,740 $ 627 $ (64 ) $ — $ 3,303 Commercial real estate 4,122 14 — — 4,136 Construction 585 248 — — 833 Commercial 355 44 — 24 423 Home equity 827 (196 ) — 199 830 Indirect auto 713 (27 ) (39 ) 5 652 Other consumer 12 — (3 ) 4 13 Unallocated 183 17 — — 200 Total $ 9,537 $ 727 $ (106 ) $ 232 $ 10,390 Three Months Ended September 30, 2014 Beginning balance Provision (benefit) Charge-offs Recoveries Ending balance Residential one-to-four family $ 2,249 $ (92 ) $ (375 ) $ — $ 1,782 Commercial real estate 3,958 193 — — 4,151 Construction 187 7 — — 194 Commercial 513 — — — 513 Home equity 706 197 (199 ) — 704 Indirect auto 824 (21 ) (12 ) 5 796 Other consumer 19 3 (9 ) 3 16 Unallocated 158 5 — — 163 Total $ 8,614 $ 292 $ (595 ) $ 8 $ 8,319 Nine Months Ended September 30, 2015 Beginning balance Provision (benefit) Charge-offs Recoveries Ending balance Residential one-to-four family $ 2,364 $ 1,003 $ (64 ) $ — $ 3,303 Commercial real estate 4,043 93 — — 4,136 Construction 228 605 — — 833 Commercial 458 (59 ) — 24 423 Home equity 828 (197 ) — 199 830 Indirect auto 778 (52 ) (98 ) 24 652 Other consumer 11 8 (11 ) 5 13 Unallocated 171 29 — — 200 Total $ 8,881 $ 1,430 $ (173 ) $ 252 $ 10,390 Nine Months Ended September 30, 2014 Beginning balance Provision (benefit) Charge-offs Recoveries Ending balance Residential one-to-four family $ 2,189 $ (32 ) $ (375 ) $ — $ 1,782 Commercial real estate 3,621 530 — — 4,151 Construction 134 60 — — 194 Commercial 419 98 (4 ) — 513 Home equity 681 222 (199 ) — 704 Indirect auto 749 82 (44 ) 9 796 Other consumer 26 4 (25 ) 11 16 Unallocated 139 24 — — 163 Total $ 7,958 $ 988 $ (647 ) $ 20 $ 8,319 September 30, 2015 Individually evaluated for impairment Collectively evaluated for impairment Total Loan balance Allowance Loan balance Allowance Loan balance Allowance Residential one-to-four family $ 4,303 $ 211 $ 631,090 $ 3,092 $ 635,393 $ 3,303 Commercial real estate 3,726 5 421,588 4,131 425,314 4,136 Construction — — 63,133 833 63,133 833 Commercial — — 37,440 423 37,440 423 Home equity 291 — 150,877 830 151,168 830 Indirect auto 15 — 116,424 652 116,439 652 Other consumer — — 461 13 461 13 Unallocated — — — 200 — 200 Total $ 8,335 $ 216 $ 1,421,013 $ 10,174 $ 1,429,348 $ 10,390 December 31, 2014 Individually evaluated for impairment Collectively evaluated for impairment Total Loan balance Allowance Loan balance Allowance Loan balance Allowance Residential one-to-four family $ 6,256 $ 188 $ 444,316 $ 2,176 $ 450,572 $ 2,364 Commercial real estate 3,882 5 391,296 4,038 395,178 4,043 Construction — — 31,389 228 31,389 228 Commercial — — 39,161 458 39,161 458 Home equity 296 — 131,332 828 131,628 828 Indirect auto 12 — 131,949 778 131,961 778 Other consumer — — 774 11 774 11 Unallocated — — — 171 — 171 Total $ 10,446 $ 193 $ 1,170,217 $ 8,688 $ 1,180,663 $ 8,881
Information about Loans that Meet Definition of Impaired Loan	Information about loans that meet the definition of an impaired loan in ASC 310-10-35 is as follows as of September 30, 2015 (unaudited and in thousands): Impaired loans with a related allowance for credit losses Recorded Unpaid Specific Residential one-to-four family $ 1,399 $ 1,412 $ 211 Commercial real estate 3,017 3,017 5 Totals $ 4,416 $ 4,429 $ 216 Impaired loans with no related allowance for credit losses Recorded Unpaid Specific Residential one-to-four family $ 2,904 $ 2,941 $ — Commercial real estate 709 709 — Home equity 291 297 — Indirect auto 15 15 — Totals $ 3,919 $ 3,962 $ — Information about loans that meet the definition of an impaired loan in ASC 310-10-35 is as follows as of December 31, 2014 (in thousands): Impaired loans with a related allowance for credit losses Recorded Unpaid Specific Residential one-to-four family $ 1,186 $ 1,186 $ 188 Commercial real estate 3,060 3,060 5 Totals $ 4,246 $ 4,246 $ 193 Impaired loans with no related allowance for credit losses Recorded Unpaid Specific Residential one-to-four family $ 5,070 $ 5,229 $ — Commercial real estate 822 822 — Home equity 296 298 — Indirect auto 12 12 — Totals $ 6,200 $ 6,361 $ —
Information regarding Interest Income Recognized on Impaired Loans	The following tables set forth information regarding interest income recognized on impaired loans, by portfolio, for the periods indicated (unaudited and in thousands): Three months ended September 30, 2015 Three months ended September 30, 2014 With an allowance recorded Average Interest Average Interest Residential one-to-four family $ 1,248 $ 8 $ 1,344 $ 3 Commercial real estate 3,021 31 3,078 32 Totals $ 4,269 $ 39 $ 4,422 $ 35 Three months ended September 30, 2015 Three months ended September 30, 2014 Without an allowance recorded Average Interest Income Average Interest Residential one-to-four family $ 4,206 $ 24 $ 3,532 $ 21 Commercial real estate 727 8 862 9 Home equity 291 2 431 2 Indirect auto 12 — — — Totals $ 5,236 $ 34 $ 4,825 $ 32 Nine months ended September 30, 2015 Nine months ended September 30, 2014 With an allowance recorded Average Interest Income Average Interest Residential one-to-four family $ 1,202 $ 25 $ 1,882 $ 110 Commercial real estate 3,036 93 3,092 84 Totals $ 4,238 $ 118 $ 4,974 $ 194 Nine months ended September 30, 2015 Nine months ended September 30, 2014 Without an allowance recorded Average Interest Average Interest Residential one-to-four family $ 4,764 $ 74 $ 3,265 $ 70 Commercial real estate 767 23 906 26 Home equity 293 6 387 7 Indirect auto 8 — — — Totals $ 5,832 $ 103 $ 4,558 $ 103
Summary of Past Due and Non-Accrual Loans	The following is a summary of past due and non-accrual loans (in thousands): September 30, 2015 (unaudited) 30–59 Days 60–89 Days 90 Days Total 90 days Loans on Real estate loans: Residential one-to-four family $ 440 $ — $ 641 $ 1,081 $ — $ 1,144 Home equity — — — — — 91 Other loans: Indirect auto 336 113 15 464 — 15 Total $ 776 $ 113 $ 656 $ 1,545 $ — $ 1,250 December 31, 2014 30–59 Days 60–89 Days 90 Days Total 90 days Loans on Non-accrual Real estate loans: Residential one-to-four family $ — $ 230 $ 2,432 $ 2,662 $ — $ 2,662 Home equity 270 — 96 366 — 96 Other loans: Indirect auto 463 45 12 520 — 12 Total $ 733 $ 275 $ 2,540 $ 3,548 $ — $ 2,770
Company's Loans by Risk Rating	The following tables present the Company’s loans by risk rating at September 30, 2015 (unaudited and in thousands) and December 31, 2014 (in thousands). There were no loans rated as 6 (“doubtful”) or 7 (“loss”) at the dates indicated. September 30, 2015 Loans rated 1-3 Loans rated 4 Loans rated 5 Loans not rated (A) Total Residential one-to-four family $ — $ 361 $ 1,870 $ 633,162 $ 635,393 Commercial real estate 419,831 758 4,725 — 425,314 Construction 63,133 — — — 63,133 Commercial 37,440 — — — 37,440 Home equity — — 890 150,278 151,168 Indirect auto — — — 116,439 116,439 Other consumer — — — 461 461 Total $ 520,404 $ 1,119 $ 7,485 $ 900,340 $ 1,429,348 December 31, 2014 Loans rated 1-3 Loans rated 4 Loans rated 5 Loans not rated (A) Total Residential one-to-four family $ — $ 1,134 $ 3,400 $ 446,038 $ 450,572 Commercial real estate 386,513 — 8,665 — 395,178 Construction 31,389 — — — 31,389 Commercial 39,159 2 — — 39,161 Home equity — — 895 130,733 131,628 Indirect auto — — — 131,961 131,961 Consumer — — — 774 774 Total $ 457,061 $ 1,136 $ 12,960 $ 709,506 $ 1,180,663 (A) Residential real estate and home equity loans are not formally risk rated by the Company unless the loans become delinquent.
Troubled Debt Restructuring Accrual Status	The following table shows the Company’s total TDRs and other pertinent information as of the dates indicated (in thousands): September 30, 2015 December 31, 2014 (unaudited) TDRs on Accrual Status $ 7,085 $ 7,675 TDRs on Nonaccrual Status 503 1,551 Total TDRs $ 7,588 $ 9,226 Amount of specific allocation included in the allowance for loan losses associated with TDRs $ 174 $ 174 Additional commitments to lend to a borrower who has been a party to a TDR $ — $ —
Troubled Debt Restructurings on Financing Receivables	The following tables show the troubled debt restructuring modifications which occurred during the periods indicated and the change in the recorded investment subsequent to the modifications occurring (dollars in thousands and unaudited): Three months ended Three months ended # of Pre-modification Post-modification # of Pre-modification Post-modification Real estate loans: Residential one-to-four family 1 $ 463 $ 507 — $ — $ — Total 1 $ 463 $ 507 — $ — $ — Nine months ended Nine months ended # of Pre-modification Post-modification # of Pre-modification Post-modification Real estate loans: Residential one-to-four family 1 $ 463 $ 507 1 $ 1,700 $ 1,700 Home equity — — — 1 200 200 Commercial real estate — — — 1 882 882 Total 1 $ 463 $ 507 3 $ 2,782 $ 2,782
Post Modification of Troubled Debt Restructuring Balance	The following table shows the Company’s post-modification balance of TDRs listed by type of modification during the periods indicated (in thousands): Three months ended Three months ended (unaudited) (unaudited) Interest only period 507 — Total $ 507 $ — Nine months ended Nine months ended (unaudited) (unaudited) Extended Maturity $ — $ 882 Interest only period 507 1,900 Total $ 507 $ 2,782

TRANSFERS AND SERVICING (Tables

TRANSFERS AND SERVICING (Tables)	9 Months Ended
	Sep. 30, 2015
Changes in Mortgage Servicing Rights	Changes in mortgage servicing rights, which are included in other assets, were as follows (in thousands): Three months ended September 30, Nine months ended September 30, 2015 2014 2015 2014 (unaudited) (unaudited) Balance at beginning of period $ 475 $ 402 $ 476 $ 411 Capitalization 16 56 93 85 Amortization (24 ) (20 ) (71 ) (56 ) Valuation allowance adjustment 13 15 (18 ) 13 Balance at end of period $ 480 $ 453 $ 480 $ 453

PLEDGED ASSETS (Tables)

PLEDGED ASSETS (Tables)	9 Months Ended
	Sep. 30, 2015
Securities and Loans Pledged to Secure Securities Sold Under Agreements to Repurchase, FHLB Advances and Credit Facilities Available	The following securities and loans were pledged to secure securities sold under agreements to repurchase, FHLB advances and credit facilities available (in thousands). September 30, 2015 (unaudited) Securities held-to- Loans Total pledged Repurchase agreements $ 6,040 $ — $ 6,040 FHLB borrowings 50,999 623,520 674,519 Federal Reserve Bank LOC 15,691 — 15,691 Total pledged assets $ 72,730 $ 623,520 $ 696,250 December 31, 2014 Securities held-to- Loans Total pledged Repurchase agreements $ 3,830 $ — $ 3,830 FHLB borrowings 51,062 518,375 569,437 Federal Reserve Bank LOC 15,662 — 15,662 Total pledged assets $ 70,554 $ 518,375 $ 588,929

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	9 Months Ended
	Sep. 30, 2015
Components of Earning Per Share	Earnings per share consisted of the following components for the periods indicated (unaudited and dollars in thousands except per share data): Three months ended Nine months ended September 30, 2015 2014 2015 2014 Net income $ 1,868 $ 1,202 $ 4,845 $ 2,924 Undistributed earnings attributable to participating securities (47 ) (40 ) (121 ) (97 ) Net income allocated to common stockholders $ 1,821 $ 1,162 $ 4,724 $ 2,827 Weighted average shares outstanding, basic 8,468,527 8,358,592 8,453,768 8,352,936 Effect of dilutive shares 221,465 98,592 205,419 71,079 Weighted average shares outstanding, assuming dilution 8,689,992 8,457,184 8,659,187 8,424,015 Basic EPS $ 0.22 $ 0.14 $ 0.56 $ 0.34 Effect of dilutive shares (0.01 ) — (0.01 ) — Diluted EPS $ 0.21 $ 0.14 $ 0.55 $ 0.34
Options Excluded from Computation of EPS	The following table illustrates average options to purchase shares of common stock that were outstanding but not included in the computation of EPS because they were antidilutive under the treasury stock method (unaudited): Three months ended September 30, Nine months ended September 30, 2015 2014 2015 2014 Stock options 23,242 33,760 17,500 5,604

STOCK BASED COMPENSATION (Table

STOCK BASED COMPENSATION (Tables)	9 Months Ended
	Sep. 30, 2015
Pre-Tax Expense Associated with Stock Option and Restricted Stock Awards and Related Tax Benefits Recognized	The following table presents the pre-tax expense associated with stock options and restricted stock awards and the related tax benefits recognized (in thousands and unaudited): Three months Three months Nine months Nine months Stock options $ 203 $ 208 $ 589 $ 642 Restricted stock awards 224 224 648 685 Total stock based compensation expense $ 427 $ 432 $ 1,237 $ 1,327 Related tax benefits recognized in earnings $ 123 $ 123 $ 359 $ 388
Compensation Cost Related to Non-Vested Awards Not Yet Recognized and Weighted Average Recognition Period	Total compensation cost related to non-vested awards not yet recognized and the weighted average period (in years) over which it is expected to be recognized is as follows (in thousands): As of September 30, 2015 As of December 31, 2014 (unaudited) Amount Weighted Amount Weighted Stock options $ 1,651 2.32 $ 2,195 3.01 Restricted stock 1,755 2.20 2,313 2.94 Total $ 3,406 $ 4,508

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	9 Months Ended
	Sep. 30, 2015
Summary of Financial Assets Measured at Fair Value on Recurring Basis	The following table summarizes financial assets measured at fair value on a recurring basis as of September 30, 2015 and December 31, 2014, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value (in thousands): Level 1 Level 2 Level 3 Total (unaudited) At September 30, 2015 Securities available-for-sale Corporate debt securities $ — $ 22,025 $ — $ 22,025 Trading securities Rabbi trust investments 2,348 — — 2,348 Totals $ 2,348 $ 22,025 $ — $ 24,373 Level 1 Level 2 Level 3 Total At December 31, 2014 Securities available-for-sale Corporate debt securities $ — $ 22,079 $ — $ 22,079 Trading securities Rabbi trust investments 2,336 — — 2,336 Totals $ 2,336 $ 22,079 $ — $ 24,415
Schedule of Estimated Fair Values and Related Carrying or Notional Amounts of Financial Instruments	The estimated fair values, and related carrying or notional amounts, of the Company’s financial instruments are as follows (in thousands): September 30, 2015 Carrying Fair Level 1 Level 2 Level 3 (unaudited) Financial assets: Cash and cash equivalents $ 42,600 $ 42,600 $ 42,600 $ — $ — Interest-bearing time deposits with other banks 131 132 — 132 — Held-to-maturity securities 135,328 136,408 — 136,408 — Federal Home Loan Bank stock 16,774 16,774 — 16,774 — Loans, net 1,427,660 1,422,433 — — 1,422,433 Accrued interest receivable 3,608 3,608 3,608 — — Bank owned life insurance 29,529 29,529 — 29,529 — Financial liabilities: Deposits 1,208,571 1,211,597 950,837 260,760 — Federal Home Loan Bank advances 319,600 320,862 — 320,862 — Securities sold under agreements to repurchase 2,386 2,386 — 2,386 — Other borrowed funds 1,032 1,019 — 1,019 — Accrued interest payable 1,025 1,025 1,025 — — Mortgagors’ escrow accounts 2,344 2,344 — 2,344 — December 31, 2014 Carrying Fair Level 1 Level 2 Level 3 Financial assets: Cash and cash equivalents $ 51,767 $ 51,767 $ 51,767 $ — $ — Interest-bearing time deposits with other banks 131 132 — 132 — Held-to-maturity securities 118,528 119,447 — 119,447 — Federal Home Loan Bank stock 13,712 13,712 — 13,712 — Loans, net 1,179,399 1,170,663 — — 1,170,663 Accrued interest receivable 2,977 2,977 2,977 — — Bank owned life insurance 23,888 23,888 — 23,888 — Financial liabilities: Deposits 984,562 987,353 758,349 229,004 — Federal Home Loan Bank advances 285,100 285,266 — 285,266 — Securities sold under agreements to repurchase 1,392 1,392 — 1,392 — Other borrowed funds 1,067 1,056 — 1,056 — Accrued interest payable 961 961 961 — — Mortgagors’ escrow accounts 1,726 1,726 — 1,726 —
Loans Held for Sale and Impaired Loans
Fair Value of Assets Measured on Nonrecurring Basis	The following table (in thousands) presents certain impaired loans that were re-measured and reported at fair value through a specific valuation allowance allocation of the allowance for loan losses or charge off based upon the fair value of the underlying collateral at September 30, 2015 (unaudited) and December 31, 2014. September 30, 2015 Level 1 Level 2 Level 3 Impaired loans $ — $ — $ 599 Totals $ — $ — $ 599 December 31, 2014 Level 1 Level 2 Level 3 Impaired loans $ — $ — $ 1,951 Totals $ — $ — $ 1,951
Other Real Estate Owned
Fair Value of Assets Measured on Nonrecurring Basis	The following table (in thousands) presents the non-financial assets that were re-measured and reported at the lower of cost or fair value at the periods indicated: September 30, 2015 Level 1 Level 2 Level 3 (unaudited) Mortgage servicing rights $ — $ — $ 480 Other real estate owned — — 1,513 Totals $ — $ — $ 1,993 December 31, 2014 Level 1 Level 2 Level 3 Mortgage servicing rights $ — $ — $ 476 Totals $ — $ — $ 476

OTHER COMPREHENSIVE INCOME (Tab

OTHER COMPREHENSIVE INCOME (Tables)	9 Months Ended
	Sep. 30, 2015
Schedules of Other Comprehensive Income	Three months ended September 30, 2015 Three months ended September 30, 2014 Pre Tax Tax After Tax Pre Tax Tax After Tax Securities available-for-sale: Change in unrealized gain/loss during the period $ 18 $ (7 ) $ 11 $ 56 $ (20 ) $ 36 Total securities available-for-sale 18 (7 ) 11 56 (20 ) 36 Other comprehensive income $ 18 $ (7 ) $ 11 $ 56 $ (20 ) $ 36 Nine months ended September 30, 2015 Nine months ended September 30, 2014 Pre Tax Tax After Tax Pre Tax Tax After Tax Securities available-for-sale: Change in unrealized gain/loss during the period $ — $ — $ — $ 379 $ (149 ) $ 230 Total securities available-for-sale — — — 379 (149 ) 230 Other comprehensive income $ — $ — $ — $ 379 $ (149 ) $ 230
Components of Accumulated Other Comprehensive (Loss) Income, Net of Tax	Information on the Company’s accumulated other comprehensive (loss) income, net of tax is comprised of the following components as of the periods indicated (unaudited and in thousands): Net unrealized (loss) gain on securities available for sale Unrecognized actuarial gain on defined benefit pension plan Accumulated other comprehensive (loss) income Beginning balance: January 1, 2015 $ (72 ) $ 50 $ (22 ) Other comprehensive income — — — Ending balance: September 30, 2015 $ (72 ) $ 50 $ (22 ) Beginning balance: January 1, 2014 $ (210 ) $ 22 $ (188 ) Other comprehensive income 230 — 230 Ending balance: September 30, 2014 $ 20 $ 22 $ 42

Amortized Cost of Available for

Amortized Cost of Available for Sale and Held-to-Maturity Securities (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale Securities, Amortized Cost Basis	$ 22,145	$ 22,199
Available-for-sale Securities, Gross Unrealized Gains	77	86
Available-for-sale Securities, Gross Unrealized Losses	(197)	(206)
Available-for-sale Securities, Fair Value	22,025	22,079
Held-to-maturity securities, Amortized Cost Basis	135,328	118,528
Held-to-maturity securities, Gross Unrealized Gains	1,264	1,183
Held-to-maturity securities, Gross Unrealized Losses	(184)	(264)
Held-to-maturity securities, Fair Value	136,408	119,447
Corporate debt securities
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale Securities, Amortized Cost Basis	22,145	22,199
Available-for-sale Securities, Gross Unrealized Gains	77	86
Available-for-sale Securities, Gross Unrealized Losses	(197)	(206)
Available-for-sale Securities, Fair Value	22,025	22,079
Held-to-maturity securities, Amortized Cost Basis	17,589	17,551
Held-to-maturity securities, Gross Unrealized Gains	163	164
Held-to-maturity securities, Gross Unrealized Losses	(30)	(37)
Held-to-maturity securities, Fair Value	17,722	17,678
U.S. government sponsored mortgage-backed securities
Schedule of Available-for-sale Securities [Line Items]
Held-to-maturity securities, Amortized Cost Basis	117,739	100,977
Held-to-maturity securities, Gross Unrealized Gains	1,101	1,019
Held-to-maturity securities, Gross Unrealized Losses	(154)	(227)
Held-to-maturity securities, Fair Value	$ 118,686	$ 101,769

Amortized Cost Basis and Estima

Amortized Cost Basis and Estimated Fair Value of Debt Securities by Contractual Maturity (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Schedule of Available-for-sale Securities [Line Items]
Due within one year, Available-for-sale Securities, Amortized Cost Basis	$ 0
Due after one year through five years, Available-for-sale Securities, Amortized Cost Basis	12,794
Due after five years through ten years, Available-for-sale Securities, Amortized Cost Basis	9,351
Due after ten years, Available-for-sale Securities, Amortized Cost Basis	0
Available-for-sale Securities, Amortized Cost Basis	22,145	$ 22,199
Due within one year, Available-for-sale Securities, Fair Value	0
Due after one year through five years, Available-for-sale Securities, Fair Value	12,856
Due after five years through ten years, Available-for-sale Securities, Fair Value	9,169
Due after ten years, Available-for-sale Securities, Fair Value	0
Available-for-sale Securities, Fair Value	22,025	22,079
Due within one year, Held-to-Maturity, Amortized Cost Basis	15
Due after one year through five years, Held-to-Maturity, Amortized Cost Basis	7,236
Due after five years through ten years, Held-to-Maturity, Amortized Cost Basis	56,775
Due after ten years, Held-to-Maturity, Amortized Cost Basis	71,302
Held-to-maturity securities, Amortized Cost Basis	135,328	118,528
Due within one year, Held-to-Maturity, Fair Value	16
Due after one year through five years, Held-to-Maturity, Fair Value	7,293
Due after five years through ten years, Held-to-Maturity, Fair Value	57,177
Due after ten years, Held-to-Maturity, Fair Value	71,922
Held-to-Maturity, Fair Value	$ 136,408	$ 119,447

Investments in Securities - Add

Investments in Securities - Additional Information (Detail)	3 Months Ended		9 Months Ended
	Sep. 30, 2015USD ($)Securities	Sep. 30, 2014USD ($)	Sep. 30, 2015USD ($)Securities	Sep. 30, 2014USD ($)	Dec. 31, 2014USD ($)Investment
Schedule of Available-for-sale Securities [Line Items]
Proceeds from sales of available-for-sale securities	$ 0	$ 0	$ 0	$ 0
Number of debt securities at unrealized losses	19		19		21
Securities that had unrealized losses, aggregate depreciation percentage	1.08%		1.08%		1.31%
Trading securities, unrealized holding gain (loss)	$ (74,000)	(31,000)	$ (44,000)	31,000
Rabbi Trust
Schedule of Available-for-sale Securities [Line Items]
Trading securities, fair value	2,348,000		2,348,000		$ 2,336,000
Trading securities, unrealized holding gain (loss)	$ (74,000)	$ (44,000)	$ (31,000)	$ 31,000

Securities with Gross Unrealize

Securities with Gross Unrealized Losses Aggregated by Investment Category and Length of Time (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Schedule Of Available For Sale And Held To Maturity Securities [Line Items]
Less than 12 Months, Fair Value	$ 24,815	$ 15,665
Less than 12 Months, Unrealized Losses	(102)	(71)
12 Months or longer, Fair Value	9,978	19,822
12 Months or longer, Unrealized Losses	(279)	(399)
Corporate debt securities
Schedule Of Available For Sale And Held To Maturity Securities [Line Items]
Available-for-sale, Less than 12 Months, Fair Value	4,822
Available-for-sale, Less than 12 Months, Unrealized Losses	(1)
Available-for-sale, 12 Months or longer, Fair Value	4,154	4,185
Available-for-sale, 12 Months or longer, Unrealized Losses	(196)	(206)
Held-to-maturity, Less than 12 Months, Fair Value	4,722	4,691
Held-to-maturity, Less than 12 Months, Unrealized Losses	(30)	(37)
U.S. government sponsored mortgage-backed securities
Schedule Of Available For Sale And Held To Maturity Securities [Line Items]
Held-to-maturity, Less than 12 Months, Fair Value	15,271	10,974
Held-to-maturity, Less than 12 Months, Unrealized Losses	(71)	(34)
Held-to-maturity, 12 Months or longer, Fair Value	5,824	15,637
Held-to-maturity, 12 Months or longer, Unrealized Losses	$ (83)	$ (193)

Loans Allowance for Loan Losses

Loans Allowance for Loan Losses And Credit Quality - Additional Information (Detail)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2015USD ($)Contract	Sep. 30, 2014USD ($)Contract	Sep. 30, 2015USD ($)Contract	Sep. 30, 2014USD ($)Contract	Sep. 30, 2014USD ($)Contract	Dec. 31, 2014USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Due days of accrual of interest on all loans			90 days
Originate loans with a loan-to-value	80.00%		80.00%
Unallocated reserves for loan losses	$ 200,000		$ 200,000			$ 171,000
Troubled debt restructurings	$ 7,588,000		$ 7,588,000			$ 9,226,000
Number of financing receivables modified by troubled debt restructurings | Contract	1	0	1	3
TDR's defaulted modification, number of contracts | Contract	0	2	0		2
Financing receivables that have been modified by TDR's and subsequently defaulted, carrying amount			$ 1,900,000
Financing receivables that have been modified by TDR's and subsequently defaulted, charge offs		$ 573,000
Financing receivables that have been modified by TDR's and subsequently defaulted, allowances previously reported		$ 555,000		$ 555,000	$ 555,000
Other real estate owned	$ 1,513,000		1,513,000
Residential one-to-four family
Accounts, Notes, Loans and Financing Receivable [Line Items]
Consumer mortgage loans in the process of foreclosure amount	$ 641,000		$ 641,000

Summary of Loans (Detail)

Summary of Loans (Detail) - USD ($) $ in Thousands		Sep. 30, 2015	Jun. 30, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Dec. 31, 2013
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Balance		$ 1,429,348		$ 1,180,663
Net deferred loan costs		4,855		5,068
Net unamortized mortgage premiums		3,847		2,549
Allowance for loan losses		(10,390)	$ (9,537)	(8,881)	$ (8,319)	$ (8,614)	$ (7,958)
Total loans, net		$ 1,427,660		$ 1,179,399
Commercial and consumer gross percent		10.80%		14.56%
Total loans, Percent		100.00%		100.00%
Mortgage Loan Portfolio Segment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Balance		$ 1,275,008		$ 1,008,767
Mortgage loans on real estate percent		89.20%		85.44%
Mortgage Loan Portfolio Segment | Real Estate Loan | Residential one-to-four family
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Balance		$ 635,393		$ 450,572
Mortgage loans on real estate percent		44.45%		38.16%
Allowance for loan losses		$ (3,303)	(2,740)	$ (2,364)	(1,782)	(2,249)	(2,189)
Mortgage Loan Portfolio Segment | Real Estate Loan | Commercial real estate loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Balance	[1]	$ 425,314		$ 395,178
Mortgage loans on real estate percent	[1]	29.75%		33.47%
Allowance for loan losses		$ (4,136)	(4,122)	$ (4,043)	(4,151)	(3,958)	(3,621)
Mortgage Loan Portfolio Segment | Home Equity
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Balance		$ 151,168		$ 131,628
Mortgage loans on real estate percent		10.58%		11.15%
Allowance for loan losses		$ (830)	(827)	$ (828)	(704)	(706)	(681)
Mortgage Loan Portfolio Segment | Construction loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Balance		$ 63,133		$ 31,389
Mortgage loans on real estate percent		4.42%		2.66%
Allowance for loan losses		$ (833)	(585)	$ (228)	(194)	(187)	(134)
Commercial Portfolio Segment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Balance		37,440		39,161
Allowance for loan losses		$ (423)	(355)	$ (458)	(513)	(513)	(419)
Commercial loans, percentage		2.62%		3.32%
Consumer Portfolio Segment | Indirect auto loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Balance		$ 116,439		$ 131,961
consumer loans, percent		8.15%		11.17%
Allowance for loan losses		$ (652)	(713)	$ (778)	(796)	(824)	(749)
Consumer Portfolio Segment | Other Consumer Loan
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Balance		$ 461		$ 774
consumer loans, percent		0.03%		0.07%
Allowance for loan losses		$ (13)	$ (12)	$ (11)	$ (16)	$ (19)	$ (26)
Commercial and Consumer Loan
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loans Balance		$ 154,340		$ 171,896
[1]	Includes multi-family real estate loans.

Allowance for Loan Losses by Po

Allowance for Loan Losses by Portfolio Class (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning balance	$ 9,537	$ 8,614	$ 8,881	$ 7,958
Provision (benefit)	727	292	1,430	988
Charge-offs	(106)	(595)	(173)	(647)
Recoveries	232	8	252	20
Ending balance	10,390	8,319	10,390	8,319
Mortgage Loan Portfolio Segment | Real Estate Loan | Residential one-to-four family
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning balance	2,740	2,249	2,364	2,189
Provision (benefit)	627	(92)	1,003	(32)
Charge-offs	(64)	(375)	(64)	(375)
Ending balance	3,303	1,782	3,303	1,782
Mortgage Loan Portfolio Segment | Real Estate Loan | Commercial real estate loans
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning balance	4,122	3,958	4,043	3,621
Provision (benefit)	14	193	93	530
Ending balance	4,136	4,151	4,136	4,151
Mortgage Loan Portfolio Segment | Construction loans
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning balance	585	187	228	134
Provision (benefit)	248	7	605	60
Ending balance	833	194	833	194
Mortgage Loan Portfolio Segment | Home Equity
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning balance	827	706	828	681
Provision (benefit)	(196)	197	(197)	222
Charge-offs		(199)		(199)
Recoveries	199		199
Ending balance	830	704	830	704
Commercial Portfolio Segment
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning balance	355	513	458	419
Provision (benefit)	44		(59)	98
Charge-offs				(4)
Recoveries	24		24
Ending balance	423	513	423	513
Consumer Portfolio Segment | Indirect auto loans
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning balance	713	824	778	749
Provision (benefit)	(27)	(21)	(52)	82
Charge-offs	(39)	(12)	(98)	(44)
Recoveries	5	5	24	9
Ending balance	652	796	652	796
Consumer Portfolio Segment | Other Consumer Loan
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning balance	12	19	11	26
Provision (benefit)		3	8	4
Charge-offs	(3)	(9)	(11)	(25)
Recoveries	4	3	5	11
Ending balance	13	16	13	16
Unallocated
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning balance	183	158	171	139
Provision (benefit)	17	5	29	24
Ending balance	$ 200	$ 163	$ 200	$ 163

Individually Impaired Loans by

Individually Impaired Loans by Class of Loans (Detail) - USD ($) $ in Thousands		Sep. 30, 2015	Jun. 30, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Dec. 31, 2013
Financing Receivable, Allowance for Credit Losses [Line Items]
Individually evaluated for impairment, Loan balance		$ 8,335		$ 10,446
Individually evaluated for impairment, Loan allowance		216		193
Collectively evaluated for impairment, Loan balance		1,421,013		1,170,217
Collectively evaluated for impairment, Loan allowance		10,174		8,688
Total Loan balance		1,429,348		1,180,663
Total Loan, allowance		10,390	$ 9,537	8,881	$ 8,319	$ 8,614	$ 7,958
Mortgage Loan Portfolio Segment
Financing Receivable, Allowance for Credit Losses [Line Items]
Total Loan balance		1,275,008		1,008,767
Mortgage Loan Portfolio Segment | Real Estate Loan | Residential one-to-four family
Financing Receivable, Allowance for Credit Losses [Line Items]
Individually evaluated for impairment, Loan balance		4,303		6,256
Individually evaluated for impairment, Loan allowance		211		188
Collectively evaluated for impairment, Loan balance		631,090		444,316
Collectively evaluated for impairment, Loan allowance		3,092		2,176
Total Loan balance		635,393		450,572
Total Loan, allowance		3,303	2,740	2,364	1,782	2,249	2,189
Mortgage Loan Portfolio Segment | Real Estate Loan | Commercial real estate loans
Financing Receivable, Allowance for Credit Losses [Line Items]
Individually evaluated for impairment, Loan balance		3,726		3,882
Individually evaluated for impairment, Loan allowance		5		5
Collectively evaluated for impairment, Loan balance		421,588		391,296
Collectively evaluated for impairment, Loan allowance		4,131		4,038
Total Loan balance	[1]	425,314		395,178
Total Loan, allowance		4,136	4,122	4,043	4,151	3,958	3,621
Mortgage Loan Portfolio Segment | Construction loans
Financing Receivable, Allowance for Credit Losses [Line Items]
Collectively evaluated for impairment, Loan balance		63,133		31,389
Collectively evaluated for impairment, Loan allowance		833		228
Total Loan balance		63,133		31,389
Total Loan, allowance		833	585	228	194	187	134
Mortgage Loan Portfolio Segment | Home Equity
Financing Receivable, Allowance for Credit Losses [Line Items]
Individually evaluated for impairment, Loan balance		291		296
Collectively evaluated for impairment, Loan balance		150,877		131,332
Collectively evaluated for impairment, Loan allowance		830		828
Total Loan balance		151,168		131,628
Total Loan, allowance		830	827	828	704	706	681
Commercial Portfolio Segment
Financing Receivable, Allowance for Credit Losses [Line Items]
Collectively evaluated for impairment, Loan balance		37,440		39,161
Collectively evaluated for impairment, Loan allowance		423		458
Total Loan balance		37,440		39,161
Total Loan, allowance		423	355	458	513	513	419
Consumer Portfolio Segment | Indirect auto loans
Financing Receivable, Allowance for Credit Losses [Line Items]
Individually evaluated for impairment, Loan balance		15		12
Collectively evaluated for impairment, Loan balance		116,424		131,949
Collectively evaluated for impairment, Loan allowance		652		778
Total Loan balance		116,439		131,961
Total Loan, allowance		652	713	778	796	824	749
Consumer Portfolio Segment | Other Consumer Loan
Financing Receivable, Allowance for Credit Losses [Line Items]
Collectively evaluated for impairment, Loan balance		461		774
Collectively evaluated for impairment, Loan allowance		13		11
Total Loan balance		461		774
Total Loan, allowance		13	12	11	16	19	26
Unallocated
Financing Receivable, Allowance for Credit Losses [Line Items]
Collectively evaluated for impairment, Loan allowance		200		171
Total Loan, allowance		$ 200	$ 183	$ 171	$ 163	$ 158	$ 139
[1]	Includes multi-family real estate loans.

Impaired Loans (Detail)

Impaired Loans (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Financing Receivable, Allowance for Credit Losses [Line Items]
Impaired loans with no related allowance for credit losses, Recorded Investment	$ 3,919		$ 3,919		$ 6,200
Impaired loans with no related allowance for credit losses, Unpaid Principal Balance	3,962		3,962		6,361
Impaired loans with no related allowance for credit losses, Average recorded Investment	5,236	$ 4,825	5,832	$ 4,558
Impaired loans with no related allowance for credit losses, Interest income recognized	34	32	103	103
Mortgage Loan Portfolio Segment
Financing Receivable, Allowance for Credit Losses [Line Items]
Impaired loans with a related allowance for credit losses at, Recorded Investment	4,416		4,416		4,246
Impaired loans with a related allowance for credit losses at, Unpaid Principal Balance	4,429		4,429		4,246
Impaired loans with a related allowance for credit losses at, Specific Allowance	216		216		193
Impaired loans with a related allowance for credit losses, Average recorded Investment	4,269	4,422	4,238	4,974
Impaired loans with a related allowance for credit losses, Income Recognized	39	35	118	194
Mortgage Loan Portfolio Segment | Real Estate Loan | Residential one-to-four family
Financing Receivable, Allowance for Credit Losses [Line Items]
Impaired loans with a related allowance for credit losses at, Recorded Investment	1,399		1,399		1,186
Impaired loans with a related allowance for credit losses at, Unpaid Principal Balance	1,412		1,412		1,186
Impaired loans with a related allowance for credit losses at, Specific Allowance	211		211		188
Impaired loans with no related allowance for credit losses, Recorded Investment	2,904		2,904		5,070
Impaired loans with no related allowance for credit losses, Unpaid Principal Balance	2,941		2,941		5,229
Impaired loans with a related allowance for credit losses, Average recorded Investment	1,248	1,344	1,202	1,882
Impaired loans with a related allowance for credit losses, Income Recognized	8	3	25	110
Impaired loans with no related allowance for credit losses, Average recorded Investment	4,206	3,532	4,764	3,265
Impaired loans with no related allowance for credit losses, Interest income recognized	24	21	74	70
Mortgage Loan Portfolio Segment | Real Estate Loan | Commercial real estate loans
Financing Receivable, Allowance for Credit Losses [Line Items]
Impaired loans with a related allowance for credit losses at, Recorded Investment	3,017		3,017		3,060
Impaired loans with a related allowance for credit losses at, Unpaid Principal Balance	3,017		3,017		3,060
Impaired loans with a related allowance for credit losses at, Specific Allowance	5		5		5
Impaired loans with no related allowance for credit losses, Recorded Investment	709		709		822
Impaired loans with no related allowance for credit losses, Unpaid Principal Balance	709		709		822
Impaired loans with a related allowance for credit losses, Average recorded Investment	3,021	3,078	3,036	3,092
Impaired loans with a related allowance for credit losses, Income Recognized	31	32	93	84
Impaired loans with no related allowance for credit losses, Average recorded Investment	727	862	767	906
Impaired loans with no related allowance for credit losses, Interest income recognized	8	9	23	26
Mortgage Loan Portfolio Segment | Home Equity
Financing Receivable, Allowance for Credit Losses [Line Items]
Impaired loans with no related allowance for credit losses, Recorded Investment	291		291		296
Impaired loans with no related allowance for credit losses, Unpaid Principal Balance	297		297		298
Impaired loans with no related allowance for credit losses, Average recorded Investment	291	431	293	387
Impaired loans with no related allowance for credit losses, Interest income recognized	2	$ 2	6	$ 7
Consumer Portfolio Segment | Indirect auto loans
Financing Receivable, Allowance for Credit Losses [Line Items]
Impaired loans with no related allowance for credit losses, Recorded Investment	15		15		12
Impaired loans with no related allowance for credit losses, Unpaid Principal Balance	15		15		$ 12
Impaired loans with no related allowance for credit losses, Average recorded Investment	$ 12		$ 8

Past Due and Non-Accrual Loans

Past Due and Non-Accrual Loans (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Financing Receivable, Allowance for Credit Losses [Line Items]
Days Past Due	$ 1,545	$ 3,548
90 days or more and accruing	0	0
Loans on Non-accrual	1,250	2,770
Indirect auto loans
Financing Receivable, Allowance for Credit Losses [Line Items]
Days Past Due	464	520
90 days or more and accruing	0	0
Loans on Non-accrual	15	12
Mortgage Loan Portfolio Segment | Real Estate Loan | Residential one-to-four family
Financing Receivable, Allowance for Credit Losses [Line Items]
Days Past Due	1,081	2,662
90 days or more and accruing	0	0
Loans on Non-accrual	1,144	2,662
Mortgage Loan Portfolio Segment | Home Equity | Commercial real estate loans
Financing Receivable, Allowance for Credit Losses [Line Items]
Days Past Due		366
90 days or more and accruing	0	0
Loans on Non-accrual	91	96
30-59 Days
Financing Receivable, Allowance for Credit Losses [Line Items]
Days Past Due	776	733
30-59 Days | Indirect auto loans
Financing Receivable, Allowance for Credit Losses [Line Items]
Days Past Due	336	463
30-59 Days | Mortgage Loan Portfolio Segment | Real Estate Loan | Residential one-to-four family
Financing Receivable, Allowance for Credit Losses [Line Items]
Days Past Due	440
30-59 Days | Mortgage Loan Portfolio Segment | Home Equity | Commercial real estate loans
Financing Receivable, Allowance for Credit Losses [Line Items]
Days Past Due		270
60-89 Days
Financing Receivable, Allowance for Credit Losses [Line Items]
Days Past Due	113	275
60-89 Days | Indirect auto loans
Financing Receivable, Allowance for Credit Losses [Line Items]
Days Past Due	113	45
60-89 Days | Mortgage Loan Portfolio Segment | Real Estate Loan | Residential one-to-four family
Financing Receivable, Allowance for Credit Losses [Line Items]
Days Past Due		230
Loans 90 Days Or More Past Due
Financing Receivable, Allowance for Credit Losses [Line Items]
Days Past Due	656	2,540
Loans 90 Days Or More Past Due | Indirect auto loans
Financing Receivable, Allowance for Credit Losses [Line Items]
Days Past Due	15	12
Loans 90 Days Or More Past Due | Mortgage Loan Portfolio Segment | Real Estate Loan | Residential one-to-four family
Financing Receivable, Allowance for Credit Losses [Line Items]
Days Past Due	$ 641	2,432
Loans 90 Days Or More Past Due | Mortgage Loan Portfolio Segment | Home Equity | Commercial real estate loans
Financing Receivable, Allowance for Credit Losses [Line Items]
Days Past Due		$ 96

Loans Classified by Risk Rating

Loans Classified by Risk Rating (Detail) - USD ($) $ in Thousands		Sep. 30, 2015	Dec. 31, 2014
Financing Receivable, Recorded Investment [Line Items]
Total Loans Balance		$ 1,429,348	$ 1,180,663
Mortgage Loan Portfolio Segment
Financing Receivable, Recorded Investment [Line Items]
Total Loans Balance		1,275,008	1,008,767
Mortgage Loan Portfolio Segment | Real Estate Loan | Residential one-to-four family
Financing Receivable, Recorded Investment [Line Items]
Total Loans Balance		635,393	450,572
Mortgage Loan Portfolio Segment | Real Estate Loan | Commercial real estate loans
Financing Receivable, Recorded Investment [Line Items]
Total Loans Balance	[1]	425,314	395,178
Mortgage Loan Portfolio Segment | Construction loans
Financing Receivable, Recorded Investment [Line Items]
Total Loans Balance		63,133	31,389
Mortgage Loan Portfolio Segment | Home Equity
Financing Receivable, Recorded Investment [Line Items]
Total Loans Balance		151,168	131,628
Commercial Portfolio Segment
Financing Receivable, Recorded Investment [Line Items]
Total Loans Balance		37,440	39,161
Consumer Portfolio Segment | Indirect auto loans
Financing Receivable, Recorded Investment [Line Items]
Total Loans Balance		116,439	131,961
Consumer Portfolio Segment | Other Consumer Loan
Financing Receivable, Recorded Investment [Line Items]
Total Loans Balance		461	774
Loans rated 1-3
Financing Receivable, Recorded Investment [Line Items]
Total Loans Balance		520,404	457,061
Loans rated 1-3 | Mortgage Loan Portfolio Segment | Real Estate Loan | Commercial real estate loans
Financing Receivable, Recorded Investment [Line Items]
Total Loans Balance		419,831	386,513
Loans rated 1-3 | Mortgage Loan Portfolio Segment | Construction loans
Financing Receivable, Recorded Investment [Line Items]
Total Loans Balance		63,133	31,389
Loans rated 1-3 | Commercial Portfolio Segment
Financing Receivable, Recorded Investment [Line Items]
Total Loans Balance		37,440	39,159
Loans rated 4
Financing Receivable, Recorded Investment [Line Items]
Total Loans Balance		1,119	1,136
Loans rated 4 | Mortgage Loan Portfolio Segment | Real Estate Loan | Residential one-to-four family
Financing Receivable, Recorded Investment [Line Items]
Total Loans Balance		361	1,134
Loans rated 4 | Mortgage Loan Portfolio Segment | Real Estate Loan | Commercial real estate loans
Financing Receivable, Recorded Investment [Line Items]
Total Loans Balance		758
Loans rated 4 | Commercial Portfolio Segment
Financing Receivable, Recorded Investment [Line Items]
Total Loans Balance			2
Loans rated 5
Financing Receivable, Recorded Investment [Line Items]
Total Loans Balance		7,485	12,960
Loans rated 5 | Mortgage Loan Portfolio Segment | Real Estate Loan | Residential one-to-four family
Financing Receivable, Recorded Investment [Line Items]
Total Loans Balance		1,870	3,400
Loans rated 5 | Mortgage Loan Portfolio Segment | Real Estate Loan | Commercial real estate loans
Financing Receivable, Recorded Investment [Line Items]
Total Loans Balance		4,725	8,665
Loans rated 5 | Mortgage Loan Portfolio Segment | Home Equity
Financing Receivable, Recorded Investment [Line Items]
Total Loans Balance		890	895
Loans not rated
Financing Receivable, Recorded Investment [Line Items]
Total Loans Balance	[2]	900,340	709,506
Loans not rated | Mortgage Loan Portfolio Segment | Real Estate Loan | Residential one-to-four family
Financing Receivable, Recorded Investment [Line Items]
Total Loans Balance	[2]	633,162	446,038
Loans not rated | Mortgage Loan Portfolio Segment | Home Equity
Financing Receivable, Recorded Investment [Line Items]
Total Loans Balance	[2]	150,278	130,733
Loans not rated | Consumer Portfolio Segment | Indirect auto loans
Financing Receivable, Recorded Investment [Line Items]
Total Loans Balance	[2]	116,439	131,961
Loans not rated | Consumer Portfolio Segment | Other Consumer Loan
Financing Receivable, Recorded Investment [Line Items]
Total Loans Balance	[2]	$ 461	$ 774
[1]	Includes multi-family real estate loans.
[2]	Residential real estate and home equity loans are not formally risk rated by the Company unless the loans become delinquent.

Troubled Debt Restructuring Acc

Troubled Debt Restructuring Accrual Status (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Financing Receivable, Recorded Investment [Line Items]
Total TDRs	$ 7,588	$ 9,226
Amount of specific allocation included in the allowance for loan losses associated with TDRs	174	174
Additional commitments to lend to a borrower who has been a party to a TDR	0	0
Accrual Loans
Financing Receivable, Recorded Investment [Line Items]
Total TDRs	7,085	7,675
Non Accrual Loans
Financing Receivable, Recorded Investment [Line Items]
Total TDRs	$ 503	$ 1,551

Troubled Debt Restructurings on

Troubled Debt Restructurings on Financing Receivables (Detail) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015USD ($)Contract	Sep. 30, 2014Contract	Sep. 30, 2015USD ($)Contract	Sep. 30, 2014USD ($)Contract
Financing Receivable, Modifications [Line Items]
Number of Contracts | Contract	1	0	1	3
Post-modification outstanding recorded investment	$ 507		$ 507	$ 2,782
Mortgage Loan Portfolio Segment
Financing Receivable, Modifications [Line Items]
Number of Contracts | Contract			1	3
Pre-modification outstanding recorded investment			$ 463	$ 2,782
Post-modification outstanding recorded investment			$ 507	$ 2,782
Mortgage Loan Portfolio Segment | Real Estate Loan
Financing Receivable, Modifications [Line Items]
Number of Contracts | Contract	1
Pre-modification outstanding recorded investment	$ 463
Post-modification outstanding recorded investment	$ 507
Mortgage Loan Portfolio Segment | Real Estate Loan | Residential one-to-four family
Financing Receivable, Modifications [Line Items]
Number of Contracts | Contract	1		1	1
Pre-modification outstanding recorded investment	$ 463		$ 463	$ 1,700
Post-modification outstanding recorded investment	$ 507		$ 507	$ 1,700
Mortgage Loan Portfolio Segment | Real Estate Loan | Commercial real estate loans
Financing Receivable, Modifications [Line Items]
Number of Contracts | Contract				1
Pre-modification outstanding recorded investment				$ 882
Post-modification outstanding recorded investment				$ 882
Mortgage Loan Portfolio Segment | Home Equity
Financing Receivable, Modifications [Line Items]
Number of Contracts | Contract				1
Pre-modification outstanding recorded investment				$ 200
Post-modification outstanding recorded investment				$ 200

Post Modification of Troubled D

Post Modification of Troubled Debt Restructuring Balance (Detail) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2015	Sep. 30, 2014
Troubled Debt Restructuring, Debtor, Subsequent Periods [Line Items]
Post-modification outstanding recorded investment	$ 507	$ 507	$ 2,782
Interest only period
Troubled Debt Restructuring, Debtor, Subsequent Periods [Line Items]
Post-modification outstanding recorded investment	$ 507	$ 507	1,900
Extended Maturity
Troubled Debt Restructuring, Debtor, Subsequent Periods [Line Items]
Post-modification outstanding recorded investment			$ 882

Transfers and Servicing - Addit

Transfers and Servicing - Additional Information (Detail) $ in Thousands	Mar. 16, 2006USD ($)Loan	Sep. 30, 2015USD ($)	Dec. 31, 2014USD ($)
Securitization or Asset-backed Financing Arrangement, Financial Asset for which Transfer is Accounted as Sale [Line Items]
Principal balance of loans sold to another financial institution	$ 10,500
Number of loans sold to another financial institution | Loan	17
Total principal balance of loans		$ 1,030	$ 1,070
Initial period for repurchase of loan		120 months
Repurchase Agreement		Loan that becomes 90 days past due
Residential Mortgage
Securitization or Asset-backed Financing Arrangement, Financial Asset for which Transfer is Accounted as Sale [Line Items]
Loans previously sold and serviced		$ 66,570	69,490
Consumer Portfolio Segment | Indirect auto loans
Securitization or Asset-backed Financing Arrangement, Financial Asset for which Transfer is Accounted as Sale [Line Items]
Loans previously sold and serviced		66,650	94,680
Transferred Loans [Member]
Securitization or Asset-backed Financing Arrangement, Financial Asset for which Transfer is Accounted as Sale [Line Items]
Total principal balance of loans		$ 1,030	$ 1,070

Changes in Mortgage Servicing R

Changes in Mortgage Servicing Rights (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Servicing Asset at Amortized Cost [Line Items]
Balance at beginning of period	$ 475	$ 402	$ 476	$ 411
Capitalization	16	56	93	85
Amortization	(24)	(20)	(71)	(56)
Valuation allowance adjustment	13	15	(18)	13
Balance at end of period	$ 480	$ 453	$ 480	$ 453

Securities Sold Under Agreeme44

Securities Sold Under Agreements to Repurchase and Other Borrowed Funds - Additional Information (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Servicing Asset at Amortized Cost [Line Items]
Balance of securities sold under agreements to repurchase	$ 2,386	$ 1,392
Total principal balance of loans	$ 1,030	$ 1,070

Employee and Director Benefit45

Employee and Director Benefit Plans - Additional Information (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Estimated liability	$ 1,210,000		$ 1,210,000		$ 985,000
Compensation expense recognized	487,000	$ 464,000	$ 1,410,000	$ 1,320,000
Percentage of eligible compensation of employee			75.00%
Contributions by the Company	217,000	223,000	$ 646,000	579,000
Percentage of deferred compensation vested			100.00%
Expense recognized by the company	$ 0	0	$ 0	61,000
Capital Appreciation Plan, Benefits paid			$ 266,000
ESOP, purchase shares			458,643
Common stock price per share			$ 10
Loan obtained by the ESOP, payable annually over			30 years
Loan Obtained By ESOP Rate Per Annum Equal To Prime Rate	3.25%		3.25%
ESOP expense	$ 79,000	$ 67,000	$ 235,000	$ 195,000
Maximum
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fully vested participants, years of service to complete			10 years
Minimum
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fully vested participants, years of service to complete			5 years
Deferred Compensation Plan | Rabbi Trust
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Recorded liability	2,350,000		$ 2,350,000		2,340,000
Executive Officers
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Benefit upon termination of employment at or after age			55 years
Reduced benefits available prior to attaining age			55 years
Estimated liability	1,950,000		$ 1,950,000		1,770,000
Executive Officers | Maximum
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Number of years of service to complete			10 years
Executive Officers | Minimum
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Number of years of service to complete			10 years
Directors
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Estimated liability	$ 647,000		$ 647,000		$ 648,000

Securities and Loans Pledged to

Securities and Loans Pledged to Secure Securities Sold Under Agreements to Repurchase, FHLB Advances and Credit Facilities Available (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Financial Instruments Owned and Pledged as Collateral [Line Items]
Securities held-to- maturity (at cost)	$ 72,730	$ 70,554
Loans receivable	623,520	518,375
Total pledged assets	696,250	588,929
Repurchase agreements
Financial Instruments Owned and Pledged as Collateral [Line Items]
Securities held-to- maturity (at cost)	6,040	3,830
Total pledged assets	6,040	3,830
FHLB borrowings
Financial Instruments Owned and Pledged as Collateral [Line Items]
Securities held-to- maturity (at cost)	50,999	51,062
Loans receivable	623,520	518,375
Total pledged assets	674,519	569,437
Federal Reserve Bank LOC
Financial Instruments Owned and Pledged as Collateral [Line Items]
Securities held-to- maturity (at cost)	15,691	15,662
Total pledged assets	$ 15,691	$ 15,662

Earning Per Share (Detail)

Earning Per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Computation of Earnings Per Share [Line Items]
Net income	$ 1,868	$ 1,202	$ 4,845	$ 2,924
Undistributed earnings attributable to participating securities	(47)	(40)	(121)	(97)
Net income allocated to common stockholders	$ 1,821	$ 1,162	$ 4,724	$ 2,827
Weighted average shares outstanding, basic	8,468,527	8,358,592	8,453,768	8,352,936
Effect of dilutive shares	221,465	98,592	205,419	71,079
Weighted average shares outstanding, assuming dilution	8,689,992	8,457,184	8,659,187	8,424,015
Basic EPS	$ 0.22	$ 0.14	$ 0.56	$ 0.34
Effect of dilutive shares	(0.01)		(0.01)
Diluted EPS	$ 0.21	$ 0.14	$ 0.55	$ 0.34

Options Outstanding Excluded Fr

Options Outstanding Excluded From Computation of Earnings Per Share (Detail) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Stock options	23,242	33,760	17,500	5,604

Earnings Per Share - Additional

Earnings Per Share - Additional information (Detail)	Jun. 22, 2013shares
Maximum
Computation of Earnings Per Share [Line Items]
Share repurchase program, shares authorized to be repurchased	500,000

Pre-Tax Expense Associated with

Pre-Tax Expense Associated with Stock Option and Restricted Stock Awards and Related Tax Benefits Recognized (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options	$ 203	$ 208	$ 589	$ 642
Restricted stock awards	224	224	648	685
Total stock based compensation expense	427	432	1,237	1,327
Related tax benefits recognized in earnings	$ 123	$ 123	$ 359	$ 388

Compensation Cost Related to No

Compensation Cost Related to Non-Vested Awards not Yet Recognized and Weighted Average Recognition Period (Detail) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total	$ 3,406	$ 4,508
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options, amount	$ 1,651	$ 2,195
Restricted stock, weighted average period	2 years 3 months 26 days	3 years 4 days
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock, amount	$ 1,755	$ 2,313
Restricted stock, weighted average period	2 years 2 months 12 days	2 years 11 months 9 days

Summary of Financial Assets Mea

Summary of Financial Assets Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Totals	$ 24,373	$ 24,415
Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available-for-sale	22,025	22,079
Rabbi Trust
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	2,348	2,336
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Totals	2,348	2,336
Level 1 | Rabbi Trust
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	2,348	2,336
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Totals	22,025	22,079
Level 2 | Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available-for-sale	$ 22,025	$ 22,079

Loans Remeasured and Reported a

Loans Remeasured and Reported at Fair Value (Detail) - Fair Value, Measurements, Nonrecurring - Level 3 - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans	$ 599	$ 1,951
Totals	$ 599	$ 1,951

Assets Remeasured and Reported

Assets Remeasured and Reported at Lower of Cost or Fair Value (Detail) - Level 3 - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value on a nonrecurring basis	$ 1,993	$ 476
Mortgage Servicing Rights
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value on a nonrecurring basis	480	$ 476
Other Real Estate Owned
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets measured at fair value on a nonrecurring basis	$ 1,513

Fair Value Measurements (Detail

Fair Value Measurements (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014	Sep. 30, 2014	Dec. 31, 2013
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Line Items]
Cash and cash equivalents	$ 42,600	$ 51,767	$ 45,485	$ 38,035
Interest-bearing time deposits with other banks	131	131
Held-to-maturity securities	135,328	118,528
Federal Home Loan Bank stock	16,774	13,712
Loans, net	1,427,660	1,179,399
Accrued interest receivable	3,608	2,977
Bank owned life insurance	29,529	23,888
Deposits	1,208,571	984,562
Federal Home Loan Bank advances	319,600	285,100
Securities sold under agreements to repurchase	2,386	1,392
Other borrowed funds	1,032	1,067
Accrued interest payable	1,025	961
Cash and cash equivalents	42,600	51,767
Interest-bearing time deposits with other banks	132	132
Held-to-maturity securities	136,408	119,447
Federal Home Loan Bank stock	16,774	13,712
Loans, net	1,422,433	1,170,663
Accrued interest receivable	3,608	2,977
Bank owned life insurance	29,529	23,888
Deposits	1,211,597	987,353
Federal Home Loan Bank advances	320,862	285,266
Securities sold under agreements to repurchase	2,386	1,392
Other borrowed funds	1,019	1,056
Accrued interest payable	1,025	961
Mortgagors' escrow accounts	2,344	1,726
Carrying Amount
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Line Items]
Cash and cash equivalents	42,600	51,767
Interest-bearing time deposits with other banks	131	131
Held-to-maturity securities	135,328	118,528
Federal Home Loan Bank stock	16,774	13,712
Loans, net	1,427,660	1,179,399
Accrued interest receivable	3,608	2,977
Bank owned life insurance	29,529	23,888
Deposits	1,208,571	984,562
Federal Home Loan Bank advances	319,600	285,100
Securities sold under agreements to repurchase	2,386	1,392
Other borrowed funds	1,032	1,067
Accrued interest payable	1,025	961
Mortgagors' escrow accounts	2,344	1,726
Level 1
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Line Items]
Cash and cash equivalents	42,600	51,767
Accrued interest receivable	3,608	2,977
Deposits	950,837	758,349
Accrued interest payable	1,025	961
Level 2
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Line Items]
Interest-bearing time deposits with other banks	132	132
Held-to-maturity securities	136,408	119,447
Federal Home Loan Bank stock	16,774	13,712
Bank owned life insurance	29,529	23,888
Deposits	260,760	229,004
Federal Home Loan Bank advances	320,862	285,266
Securities sold under agreements to repurchase	2,386	1,392
Other borrowed funds	1,019	1,056
Mortgagors' escrow accounts	2,344	1,726
Level 3
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Line Items]
Loans, net	$ 1,422,433	$ 1,170,663

Other Comprehensive Income (Det

Other Comprehensive Income (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2014
Schedule of Other Comprehensive Income (Loss) [Line Items]
Change in unrealized gain/loss during the period, Pre-Tax Amount	$ 18	$ 56	$ 379
Total securities available for sale, Pre-Tax Amount	18	56	379
Other comprehensive (loss) income, Pre Tax Amount	18	56	379
Change in unrealized gain/loss during the period, Tax (Expense) Benefit	(7)	(20)	(149)
Total securities available for sale, Tax (Expense) Benefit	(7)	(20)	(149)
Other comprehensive (loss) income, Tax (Expense) Benefit	(7)	(20)	(149)
Change in unrealized gain/loss during the period, After Tax Amount	11	36	230
Total securities available for sale, After Tax Amount	11	36	230
Other Comprehensive (loss) Income, After Tax Amount	$ 11	$ 36	$ 230

Components of Accumulated Other

Components of Accumulated Other Comprehensive Loss, Net of Tax (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance			$ (72)	$ (210)
Other comprehensive income	$ 11	$ 36		230
Ending balance	(72)	20	(72)	20
Beginning balance			50	22
Other comprehensive income			0	0
Ending balance	50	22	50	22
Beginning balance			(22)	(188)
Other comprehensive income	11	36		230
Ending balance	$ (22)	$ 42	$ (22)	$ 42