Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended | |
Sep. 30, 2013 | Nov. 08, 2013 | |
Document And Entity Information | ' | ' |
Entity Registrant Name | 'FS Bancorp, Inc. | ' |
Document Type | '10-Q | ' |
Document Period End Date | 30-Sep-13 | ' |
Amendment Flag | 'false | ' |
Entity Central Index Key | '0001530249 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Common Stock, Shares Outstanding | ' | 3,240,125 |
Entity Filer Category | 'Smaller Reporting Company | ' |
Document Fiscal Year Focus | '2013 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 |
In Thousands, unless otherwise specified | |||
ASSETS | ' | ' | ' |
Cash and due from banks | $2,017 | $4,003 | ' |
Interest-bearing deposits at other financial institutions | 25,323 | 5,410 | ' |
Securities available-for-sale, at fair value | 47,131 | 43,313 | ' |
Federal Home Loan Bank stock, at cost | 1,717 | 1,765 | ' |
Loans held for sale, at fair value | 8,389 | 8,870 | ' |
Loans receivable, net | 283,794 | 274,949 | ' |
Accrued interest receivable | 1,333 | 1,223 | ' |
Premises and equipment, net | 13,705 | 12,663 | ' |
Other real estate owned (OREO) | 2,259 | 2,127 | ' |
Deferred tax asset | 752 | 1,927 | ' |
Bank Owned Life Insurance | 6,038 | ' | 0 |
Other assets | 3,608 | 2,780 | ' |
TOTAL ASSETS | 396,066 | 359,030 | ' |
LIABILITIES | ' | ' | ' |
Interest-bearing accounts | 274,289 | 254,784 | ' |
Noninterest-bearing accounts | 42,579 | 34,165 | ' |
Total deposits | 316,868 | 288,949 | ' |
Borrowings | 13,664 | 6,840 | ' |
Other liabilities | 3,300 | 3,344 | ' |
Total liabilities | 333,832 | 299,133 | ' |
COMMITMENTS AND CONTINGENCIES (NOTE 9) | ' | ' | ' |
STOCKHOLDERS' EQUITY | ' | ' | ' |
Preferred stock, $.01 par value; 5,000,000 shares authorized; None issued or outstanding | 0 | 0 | ' |
Common stock, $.01 par value; 45,000,000 shares authorized; 3,240,125 shares issued and outstanding at September 30, 2013 and December 31, 2012, respectively | 32 | 32 | ' |
Additional paid-in capital | 30,029 | 29,894 | ' |
Retained earnings | 34,828 | 31,746 | ' |
Accumulated other comprehensive income (loss) | -481 | 597 | ' |
Unearned shares - Employee Stock Ownership Plan (ESOP) | -2,174 | -2,372 | ' |
Total stockholders' equity | 62,234 | 59,897 | ' |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $396,066 | $359,030 | ' |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parentheticals) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Items Included in Consolidated Statement of Financial Condition [Abstract] | ' | ' |
Preferred stock par value, in dollars per share | $0.01 | $0.01 |
Preferred stock, shares authorized | 5,000,000 | 5,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock par value, in dollars per share | $0.01 | $0.01 |
Common stock, shares authorized | 45,000,000 | 45,000,000 |
Common stock, shares issued | 3,240,125 | 3,240,125 |
Common stock, shares outstanding | 3,240,125 | 3,240,125 |
Consolidated_Statements_of_Inc
Consolidated Statements of Income (USD $) | 3 Months Ended | 9 Months Ended | |||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
Income Statement [Abstract] | ' | ' | ' | ' | |
Loans receivable | $5,365 | $4,647 | $15,536 | $13,121 | |
Interest and dividends on investment securities and cash and cash equivalents | 232 | 193 | 672 | 521 | |
Total interest income | 5,597 | 4,840 | 16,208 | 13,642 | |
Deposits | 502 | 543 | 1,438 | 1,715 | |
Borrowings | 56 | 28 | 142 | 117 | |
Total interest expense | 558 | 571 | 1,580 | 1,832 | |
NET INTEREST INCOME | 5,039 | 4,269 | 14,628 | 11,810 | |
PROVISION FOR LOAN LOSSES | 520 | 630 | 1,720 | 1,695 | |
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES | 4,519 | 3,639 | 12,908 | 10,115 | |
Service charges and fee income | 473 | 499 | 1,420 | 1,494 | |
Gain on sale of loans | 1,537 | 915 | 5,316 | 1,466 | |
Gain on sale of investment securities | 0 | 0 | 264 | 106 | |
Other noninterest income | 153 | 65 | 357 | 258 | |
Total noninterest income | 2,163 | 1,479 | 7,357 | 3,324 | |
Salaries and benefits | 2,578 | 2,162 | 8,190 | 5,723 | |
Operations | 752 | 630 | 2,268 | 1,761 | |
Occupancy | 372 | 286 | 1,074 | 889 | |
Data processing | 285 | 254 | 817 | 762 | |
OREO fair value write-downs, net of loss on sales | 151 | 82 | 347 | 728 | |
OREO expenses | 41 | 57 | 79 | 155 | |
Loan costs | 362 | 213 | 1,007 | 550 | |
Professional and board fees | 331 | 178 | 894 | 481 | |
FDIC insurance | 62 | 66 | 186 | 185 | |
Marketing and advertising | 107 | 80 | 350 | 200 | |
Impairment (recovery) of loss on servicing rights | -2 | 108 | -102 | 105 | |
Total noninterest expense | 5,039 | 4,116 | 15,110 | 11,539 | |
INCOME BEFORE PROVISION (BENEFIT) FOR INCOME TAX | 1,643 | 1,002 | 5,155 | 1,900 | |
PROVISION (BENEFIT) FOR INCOME TAX | 581 | -2,323 | 1,772 | -2,323 | |
NET INCOME | $1,062 | $3,325 | $3,383 | $4,223 | |
Basic earnings per share | $0.35 | $1.03 | $1.12 | ' | [1],[2] |
Diluted earnings per share | $0.35 | $1.03 | $1.12 | ' | [1],[2] |
[1] | Earnings per share calculations are not available (n/a) as the Company completed its stock conversion and became a public company on July 9, 2012. | ||||
[2] | Earnings per share and share calculations are not available (n/a) as the Company completed its stock conversion and became a public company on July 9, 2012. |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Statement of Other Comprehensive Income [Abstract] | ' | ' | ' | ' |
Net income | $1,062 | $3,325 | $3,383 | $4,223 |
Unrealized gain (loss) on securities available-for-sale: | ' | ' | ' | ' |
Unrealized holding gain (loss) arising during period | 193 | 521 | -1,063 | 864 |
Reclassification adjustment for realized gains included in net income | 0 | 0 | -264 | -106 |
Income tax benefit (provision) related to realized and unrealized gain (loss) | -65 | 365 | 249 | 365 |
Other comprehensive gain (loss), net of tax | 128 | 886 | -1,078 | 1,123 |
COMPREHENSIVE INCOME | $1,190 | $4,211 | $2,305 | $5,346 |
Consolidated_Statements_of_Cha
Consolidated Statements of Changes in Stockholders' Equity (USD $) | Total | Common Stock | Additional Paid-in Capital | Retained Earnings | Accumulated Other Comprehensive Income | Unearned Esop Shares |
In Thousands, except Share data, unless otherwise specified | ||||||
Balance at at Dec. 31, 2011 | $26,767 | $0 | $0 | $26,451 | $316 | $0 |
Balance at (in shares) at Dec. 31, 2011 | ' | 0 | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' |
Net income | 4,223 | ' | ' | 4,223 | ' | ' |
Dividends paid | 0 | ' | ' | ' | ' | ' |
Other comprehensive loss, net of tax | 1,123 | ' | ' | ' | 1,123 | ' |
Balance at at Sep. 30, 2012 | 59,372 | 32 | 29,863 | 30,674 | 1,439 | ' |
Balance at (in shares) at Sep. 30, 2012 | ' | 3,240,125 | ' | ' | ' | ' |
Balance at at Jun. 30, 2012 | ' | ' | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' |
Net income | 3,325 | ' | ' | ' | ' | ' |
ESOP shares allocated | -2,636 | ' | ' | ' | ' | -2,636 |
Balance at at Sep. 30, 2012 | 59,372 | 32 | 29,863 | ' | ' | -2,636 |
Balance at (in shares) at Sep. 30, 2012 | ' | 3,240,125 | ' | ' | ' | ' |
Balance at at Dec. 31, 2012 | 59,897 | 32 | 29,894 | 31,746 | 597 | -2,372 |
Balance at (in shares) at Dec. 31, 2012 | ' | 3,240,125 | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' |
Net income | 3,383 | ' | ' | 3,383 | ' | ' |
Dividends paid | -301 | ' | ' | -301 | ' | ' |
Other comprehensive loss, net of tax | -1,078 | ' | ' | ' | -1,078 | ' |
ESOP shares allocated | 333 | ' | 135 | ' | ' | 198 |
Balance at at Sep. 30, 2013 | $62,234 | $32 | $30,029 | $34,828 | ($481) | ($2,174) |
Balance at (in shares) at Sep. 30, 2013 | ' | 3,240,125 | ' | ' | ' | ' |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
CASH FLOWS FROM OPERATING ACTIVITIES | ' | ' |
Net income | $3,383 | $4,223 |
Adjustments to reconcile net income to net cash from operating activities | ' | ' |
Provision for loan losses | 1,720 | 1,695 |
Depreciation, amortization and accretion | 1,286 | 688 |
ESOP compensation expense for allocated shares | 333 | 0 |
Provision for deferred income taxes | 1,512 | 307 |
Valuation allowance on deferred income taxes | 0 | -2,630 |
Increase in cash surrender value of BOLI | -38 | 0 |
Gain on sale of loans held for sale | 4,933 | 1,466 |
Gain on sale of portfolio loans | -383 | 0 |
Origination of loans held for sale | -193,123 | -78,901 |
Proceeds from sale of loans held for sale | 197,396 | 71,260 |
Gain on sale of investment securities | -264 | -106 |
Loss on sale of OREO | 0 | 35 |
Impairment (recovery) of loss on servicing rights | -102 | 105 |
Impairment loss on other real estate owned | 347 | 693 |
Changes in operating assets and liabilities | ' | ' |
Accrued interest receivable | -110 | -263 |
Other assets | 213 | 216 |
Other liabilities | 34 | 1,209 |
Net cash from (used by) operating activities | 7,271 | -2,935 |
Activity in securities available-for-sale: | ' | ' |
Proceeds from sale of investment securities | 8,786 | 0 |
Maturities, prepayments, and calls | 3,971 | 11,572 |
Purchases | -18,223 | -22,587 |
Loan originations and principal collections, net | -18,964 | -44,624 |
Proceeds from sale of portfolio loans | 8,195 | 0 |
Proceeds from sale of OREO | 163 | 2,496 |
Purchase bank owned life insurance | -6,000 | 0 |
Purchase of premises and equipment | -1,714 | -3,201 |
Net cash used by investing activities | -23,786 | -56,344 |
CASH FLOWS FROM FINANCING ACTIVITIES | ' | ' |
Net increase in deposits | 27,919 | 28,406 |
Proceeds from borrowings | 101,454 | 13,000 |
Repayments of borrowings | -94,630 | -17,800 |
Dividends paid | -301 | 0 |
Employee Stock Ownership Plan (ESOP), Average Purchase Price of Shares Purchased | 0 | -2,636 |
Proceeds from Issuance of Common Stock, net | 0 | 31,233 |
Net cash from financing activities | 34,442 | 52,203 |
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | 17,927 | -7,076 |
CASH AND CASH EQUIVALENTS, beginning of period | 6,787 | 19,253 |
CASH AND CASH EQUIVALENTS, end of period | 24,714 | 12,177 |
SUPPLEMENTARY DISCLOSURES OF CASH FLOW INFORMATION | ' | ' |
Interest | 1,574 | 1,839 |
Income taxes | 260 | 0 |
SUPPLEMENTARY DISCLOSURES OF NONCASH OPERATING, INVESTING AND FINANCING ACTIVITIES | ' | ' |
Change in unrealized gain (loss) on investment securities | -1,634 | 1,123 |
Property taken in settlement of loans | $642 | $921 |
Basis_of_Presentation_and_Summ
Basis of Presentation and Summary of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2013 | |
Accounting Policies [Abstract] | ' |
Basis of Presentation and Summary of Significant Accounting Policies | ' |
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |
Nature of Operations – FS Bancorp, Inc. (the “Company”) was incorporated in September 2011 as the proposed holding company for 1st Security Bank of Washington (the “Bank”) in connection with the Bank's conversion from the mutual to stock form of ownership which was completed on July 9, 2012. The Bank is a community-based stock owned savings bank with seven branches in suburban communities in the greater Puget Sound area. The Bank provides loan and deposit services to customers who are predominantly small and middle-market businesses and individuals. | |
Financial Statement Presentation – The accompanying unaudited consolidated interim financial statements do not contain all necessary disclosures required by Generally Accepted Accounting Principles in the United States of America (“U.S. GAAP”) for complete financial statements and, therefore, should be read in conjunction with the audited consolidated financial statements and the notes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2012 filed with the Securities and Exchange Commission ("SEC") on April 1, 2013. These unaudited financial statements include all normal and recurring adjustments that management believes are necessary in order to conform to U.S. GAAP and have been reflected as required by Article 10 of Regulation S-X as promulgated by the SEC. The results for the three and nine months ended September 30, 2013 are not necessarily indicative of the results that may be expected for the year ending December 31, 2013 or any other future period. Amounts presented in the financial statements and footnote tables are rounded and presented in thousands of dollars. In the narrative footnote discussion amounts are rounded and presented in millions of dollars to one decimal point if the amounts are above $1.0 million. Amounts below $1.0 million are rounded and presented in dollars to the nearest thousands. Certain prior year amounts have been reclassified to conform to the 2013 presentation with no change to net income or stockholders' equity previously reported. | |
Conversion and Change in Corporate Form – On July 9, 2012, in accordance with a Plan of Conversion (the "Plan") adopted by its Board of Directors and as approved by its depositors and borrower members, the Bank (i) converted from a mutual savings bank to a stock savings bank, and (ii) became the wholly-owned subsidiary of FS Bancorp, Inc., a bank holding company registered with the Board of Governors of the Federal Reserve System ("FRB"). In connection with the conversion, FS Bancorp, Inc. issued an aggregate of 3,240,125 shares of common stock at an offering price of $10.00 per share for gross proceeds of $32.4 million. From the proceeds, FS Bancorp, Inc. made a capital contribution of $15.5 million to the Bank. The Bank intends to use this additional capital for future lending and investment activities and for general and other corporate purposes subject to regulatory limitations. The cost of conversion and the issuance of capital stock was approximately $2.5 million, which was deducted from the proceeds of the offering. | |
Pursuant to the Plan, the Company's Board of Directors adopted an ESOP plan which purchased 8% of the common stock in the open market or 259,210 shares. As provided for in the Plan, the Bank also established a liquidation account in the amount of retained earnings as of December 31, 2011. The liquidation account will be maintained for the benefits of eligible savings account holders as of June 30, 2007 and supplemental eligible account holders as of March 31, 2012 who maintain deposit accounts at the Bank after the conversion. The conversion was accounted for as a change in corporate form with the historic basis of the Company’s assets, liabilities, and equity unchanged as a result. | |
Use of Estimates – The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect amounts reported in the financial statements. Actual results could differ from these estimates. Material estimates that are particularly susceptible to change in the near term are allowances for loan losses, fair value of measurements, and the estimated realizability related to the deferred tax asset. | |
Principles of Consolidation – The consolidated financial statements include the accounts of FS Bancorp, Inc. and its wholly owned subsidiary, 1st Security Bank of Washington. All material intercompany accounts have been eliminated in consolidation. | |
NOTE 1 – BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) | |
Subsequent Events – The Company has evaluated events and transactions subsequent to September 30, 2013 for potential recognition or disclosure. | |
Cash and Cash Equivalents – Cash and cash equivalents include cash and due from banks, and interest-bearing balances due from other banks and the Federal Reserve Bank of San Francisco. Cash and cash equivalents have a maturity of 90 days or less at the time of purchase. As of September 30, 2013 and December 31, 2012, the Company had cash deposits at other financial institutions in excess of Federal Deposit Insurance Corporation ("FDIC") insured limits. However, as the Company places these deposits with major financial institutions and monitors the financial condition of these institutions, management believes the risk of loss to be minimal. | |
Deposits in Other Financial Institutions – The Company held interest-bearing deposits at other financial institutions with a cost basis of $25.3 million and $5.4 million as of September 30, 2013 and December 31, 2012, respectively. Certificates of deposits in the amount of $2.6 million with original maturity dates greater than 90 days were excluded from cash and cash equivalents as of September 30, 2013 and December 31, 2012. | |
RECENT ACCOUNTING PRONOUNCEMENTS | |
In July 2013, the FASB issued Accounting Standards Update No. 2013-11, Presentation of Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists (Topic 740). ASU No. 2013-11 requires an entity to present an unrecognized tax benefit, or a portion of an unrecognized tax benefit, as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward, except to the extent a net operating loss carryforward, a similar tax loss, or a tax credit carryforward is not available at the reporting date under the tax law of the applicable jurisdiction to settle any additional income taxes that would result from the disallowance of a tax position or the tax law of the applicable jurisdiction does not require the entity to use, and the entity does not intend to use, the deferred tax asset for such purpose, the unrecognized tax benefit should be presented in the financial statements as a liability and should not be combined with deferred tax assets. No new recurring disclosures are required. The amendments are effective for annual and interim reporting periods beginning on or after December 15, 2013 and are to be applied prospectively to all unrecognized tax benefits that exist at the effective date. Retrospective application is permitted. The adoption of ASU No. 2013-11 is not expected to have a material impact on the Company's consolidated financial statements. |
Securities_Availableforsale
Securities Available-for-sale | 9 Months Ended | |||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ' | |||||||||||||||||||||||
Securities Available-for-sale | ' | |||||||||||||||||||||||
SECURITIES AVAILABLE-FOR-SALE | ||||||||||||||||||||||||
The carrying amount of securities available-for-sale and their approximate fair values at September 30, 2013 and December 31, 2012 were as follows: | ||||||||||||||||||||||||
30-Sep-13 | ||||||||||||||||||||||||
Amortized | Gross | Gross | Gross | Estimated | ||||||||||||||||||||
Cost | Unrealized | Unrealized | Unrealized | Fair | ||||||||||||||||||||
Gains | Losses (less | Losses (more | Values | |||||||||||||||||||||
than 1 year) | than 1 year) | |||||||||||||||||||||||
Securities available-for-sale | ||||||||||||||||||||||||
Federal agency securities | $ | 9,796 | $ | 33 | $ | (455 | ) | $ | — | $ | 9,374 | |||||||||||||
Municipal bonds | 10,428 | 176 | (154 | ) | — | 10,450 | ||||||||||||||||||
Corporate securities | 3,503 | 4 | (44 | ) | — | 3,463 | ||||||||||||||||||
Mortgage-backed securities | 24,133 | 107 | (396 | ) | — | 23,844 | ||||||||||||||||||
Total securities available-for-sale | $ | 47,860 | $ | 320 | $ | (1,049 | ) | $ | — | $ | 47,131 | |||||||||||||
31-Dec-12 | ||||||||||||||||||||||||
Amortized | Gross | Gross | Gross | Estimated | ||||||||||||||||||||
Cost | Unrealized | Unrealized | Unrealized | Fair | ||||||||||||||||||||
Gains | Losses (less | Losses (more | Values | |||||||||||||||||||||
than 1 year) | than 1 year) | |||||||||||||||||||||||
Securities available-for-sale | ||||||||||||||||||||||||
Federal agency securities | $ | 12,287 | $ | 281 | $ | (16 | ) | $ | — | $ | 12,552 | |||||||||||||
Municipal bonds | 8,863 | 202 | (5 | ) | — | 9,060 | ||||||||||||||||||
Corporate securities | 2,492 | — | (4 | ) | — | 2,488 | ||||||||||||||||||
Mortgage-backed securities | 18,766 | 447 | — | — | 19,213 | |||||||||||||||||||
Total securities available-for-sale | $ | 42,408 | $ | 930 | $ | (25 | ) | $ | — | $ | 43,313 | |||||||||||||
There were twenty-six investments with unrealized losses of less than one year as of September 30, 2013. There were nine investments with unrealized losses of less than one year as of December 31, 2012. The unrealized losses associated with these investments are believed to be caused by changing market conditions that are considered to be temporary and the Company has the intent and ability to hold these securities until recovery, and is not likely to be required to sell these securities. No other-than-temporary impairment write-downs were recorded for the nine months ended September 30, 2013 or the year ended December 31, 2012. | ||||||||||||||||||||||||
NOTE 2 - SECURITIES AVAILABLE-FOR-SALE (Continued) | ||||||||||||||||||||||||
The contractual maturities of securities available-for-sale at September 30, 2013 were as follows: | ||||||||||||||||||||||||
September 30, | ||||||||||||||||||||||||
2013 | ||||||||||||||||||||||||
Amortized | Fair | |||||||||||||||||||||||
Cost | Value | |||||||||||||||||||||||
No contractual maturity | $ | — | $ | — | ||||||||||||||||||||
Due in one year or less | 2,282 | 2,302 | ||||||||||||||||||||||
Due after one year through five years | 3,597 | 3,643 | ||||||||||||||||||||||
Due after five years through ten years | 15,758 | 15,290 | ||||||||||||||||||||||
Due after ten years | 26,223 | 25,896 | ||||||||||||||||||||||
Total | $ | 47,860 | $ | 47,131 | ||||||||||||||||||||
The proceeds and resulting gains, computed using specific identification, from sales of securities available-for-sale were as follows for the periods ended: | ||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||||||||||
30-Sep-13 | 30-Sep-13 | |||||||||||||||||||||||
Proceeds | Gross Gains | Gross Losses | Proceeds | Gross Gains | Gross Losses | |||||||||||||||||||
Securities available-for-sale | $ | — | $ | — | $ | — | $ | 8,786 | $ | 264 | $ | — | ||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||||||||||
30-Sep-12 | 30-Sep-12 | |||||||||||||||||||||||
Proceeds | Gross Gains | Gross Losses | Proceeds | Gross Gains | Gross Losses | |||||||||||||||||||
Securities available-for-sale | $ | — | $ | — | $ | — | $ | 2,432 | $ | 106 | $ | — | ||||||||||||
Loans_Receivable_and_Allowance
Loans Receivable and Allowance For Loan Losses | 9 Months Ended | |||||||||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||||||||
Receivables [Abstract] | ' | |||||||||||||||||||||||||||||
Loans Receivable and Allowance For Loan Losses | ' | |||||||||||||||||||||||||||||
LOANS RECEIVABLE AND ALLOWANCE FOR LOAN LOSSES | ||||||||||||||||||||||||||||||
The composition of the loan portfolio was as follows at September 30, 2013 and December 31, 2012: | ||||||||||||||||||||||||||||||
September 30, | December 31, | |||||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||||||
REAL ESTATE LOANS | ||||||||||||||||||||||||||||||
Commercial | $ | 37,327 | $ | 33,250 | ||||||||||||||||||||||||||
Construction and development | 43,088 | 31,893 | ||||||||||||||||||||||||||||
Home equity | 16,253 | 15,474 | ||||||||||||||||||||||||||||
One-to-four-family | 18,854 | 13,976 | ||||||||||||||||||||||||||||
Multi-family | 4,723 | 3,202 | ||||||||||||||||||||||||||||
Total real estate loans | 120,245 | 97,795 | ||||||||||||||||||||||||||||
CONSUMER LOANS | ||||||||||||||||||||||||||||||
Indirect home improvement | 99,838 | 86,249 | ||||||||||||||||||||||||||||
Marine | 20,631 | 17,226 | ||||||||||||||||||||||||||||
Automobile | 1,222 | 2,416 | ||||||||||||||||||||||||||||
Recreational | 584 | 742 | ||||||||||||||||||||||||||||
Home improvement | 495 | 651 | ||||||||||||||||||||||||||||
Other | 1,310 | 1,386 | ||||||||||||||||||||||||||||
Total consumer loans | 124,080 | 108,670 | ||||||||||||||||||||||||||||
COMMERCIAL BUSINESS LOANS | 45,119 | 73,465 | ||||||||||||||||||||||||||||
Total loans | 289,444 | 279,930 | ||||||||||||||||||||||||||||
Allowance for loan losses | (5,310 | ) | (4,698 | ) | ||||||||||||||||||||||||||
Deferred costs, fees, and discounts, net | (340 | ) | (283 | ) | ||||||||||||||||||||||||||
Total loans receivable, net | $ | 283,794 | $ | 274,949 | ||||||||||||||||||||||||||
The Company has defined its loan portfolio into three segments that reflect the structure of the lending function, the Company’s strategic plan and the manner in which management monitors performance and credit quality. The three loan portfolio segments are: (a) Real Estate Loans, (b) Consumer Loans and (c) Commercial Business Loans. Each of these segments is disaggregated into classes based on the risk characteristics of the borrower and/or the collateral type securing the loan. The following is a summary of each of the Company’s loan portfolio segments and classes: | ||||||||||||||||||||||||||||||
Real Estate Loans | ||||||||||||||||||||||||||||||
Commercial Lending. Loans originated by the Company primarily secured by income producing properties, including retail centers, warehouses and office buildings located in our Puget Sound market area. | ||||||||||||||||||||||||||||||
Construction and Development Lending. Loans originated by the Company for the construction of and secured by commercial real estate and one-to-four-family residences and tracts of land for development, primarily in our Puget Sound market area. | ||||||||||||||||||||||||||||||
Home Equity Lending. Loans originated by the Company secured by second mortgages on one-to-four-family residences, primarily in our Puget Sound market area. | ||||||||||||||||||||||||||||||
NOTE 3 - LOANS RECEIVABLE AND ALLOWANCE FOR LOAN LOSSES (Continued) | ||||||||||||||||||||||||||||||
One-to-Four-Family Real Estate Lending. Loans originated by the Company secured by first mortgages on one-to-four-family residences, primarily in our Puget Sound market area. | ||||||||||||||||||||||||||||||
Multi-family Lending. Apartment lending (more than four units) to current banking customers and community reinvestment loans for low to moderate income individuals in our Puget Sound market area. | ||||||||||||||||||||||||||||||
Consumer Lending | ||||||||||||||||||||||||||||||
Indirect Home Improvement. Fixture secured loans are originated by the Company for home improvement and are secured by the personal property installed in, on or at the borrower’s real property, and may be perfected with a UCC-2 financing statement filed in the county of the borrower’s residence. The Company originates indirect home improvement loans throughout the states of Washington, Oregon and California. | ||||||||||||||||||||||||||||||
Marine, Automobile and Recreational. Loans originated by the Company secured by boats, automobiles and RVs to borrowers in our Puget Sound market area. | ||||||||||||||||||||||||||||||
Other Consumer and Home Improvement Loans. Loans originated by the Company, including direct home improvement loans, loans on deposits and other consumer loans to borrowers in the Puget Sound market area. | ||||||||||||||||||||||||||||||
Commercial Business Loans | ||||||||||||||||||||||||||||||
Commercial Business Lending. Commercial business loans originated by the Company to local small and mid-sized businesses in the Puget Sound market area are secured by accounts receivable, inventory or personal property, plant and equipment. Commercial business loans are made on the basis of the borrower’s ability to make repayment from the cash flow of the borrower’s business. | ||||||||||||||||||||||||||||||
NOTE 3 - LOANS RECEIVABLE AND ALLOWANCE FOR LOAN LOSSES (Continued) | ||||||||||||||||||||||||||||||
The following table details activity in the allowance for loan losses by loan categories: | ||||||||||||||||||||||||||||||
At or For the Three Months Ended September 30, 2013 | ||||||||||||||||||||||||||||||
ALLOWANCE FOR LOAN LOSSES | Real Estate | Consumer | Commercial | Unallocated | Total | |||||||||||||||||||||||||
Business | ||||||||||||||||||||||||||||||
Beginning balance | $ | 2,495 | $ | 1,736 | $ | 580 | $ | 465 | $ | 5,276 | ||||||||||||||||||||
Provision for loan losses | 280 | 64 | (195 | ) | 371 | 520 | ||||||||||||||||||||||||
Charge-offs | (275 | ) | (375 | ) | — | — | (650 | ) | ||||||||||||||||||||||
Recoveries | — | 154 | 10 | — | 164 | |||||||||||||||||||||||||
Net charge-offs | (275 | ) | (221 | ) | 10 | — | (486 | ) | ||||||||||||||||||||||
Ending balance | $ | 2,500 | $ | 1,579 | $ | 395 | $ | 836 | $ | 5,310 | ||||||||||||||||||||
Period end amount allocated to: | ||||||||||||||||||||||||||||||
Loans individually evaluated for impairment | $ | 303 | $ | — | $ | 28 | $ | — | $ | 331 | ||||||||||||||||||||
Loans collectively evaluated for impairment | 2,197 | 1,579 | 367 | 836 | 4,979 | |||||||||||||||||||||||||
Ending balance | $ | 2,500 | $ | 1,579 | $ | 395 | $ | 836 | $ | 5,310 | ||||||||||||||||||||
LOANS RECEIVABLE | ||||||||||||||||||||||||||||||
Loans individually evaluated for impairment | $ | 3,337 | $ | — | $ | 172 | $ | — | $ | 3,509 | ||||||||||||||||||||
Loans collectively evaluated for impairment | 116,908 | 124,080 | 44,947 | — | 285,935 | |||||||||||||||||||||||||
Ending balance | $ | 120,245 | $ | 124,080 | $ | 45,119 | $ | — | $ | 289,444 | ||||||||||||||||||||
At or For the Nine Months Ended September 30, 2013 | ||||||||||||||||||||||||||||||
ALLOWANCE FOR LOAN LOSSES | Real Estate | Consumer | Commercial | Unallocated | Total | |||||||||||||||||||||||||
Business | ||||||||||||||||||||||||||||||
Beginning balance | $ | 1,690 | $ | 2,158 | $ | 815 | $ | 35 | $ | 4,698 | ||||||||||||||||||||
Provision for loan losses | 1,252 | 55 | (388 | ) | 801 | 1,720 | ||||||||||||||||||||||||
Charge-offs | (477 | ) | (1,233 | ) | (44 | ) | — | (1,754 | ) | |||||||||||||||||||||
Recoveries | 35 | 599 | 12 | — | 646 | |||||||||||||||||||||||||
Net charge-offs | (442 | ) | (634 | ) | (32 | ) | — | (1,108 | ) | |||||||||||||||||||||
Ending balance | $ | 2,500 | $ | 1,579 | $ | 395 | $ | 836 | $ | 5,310 | ||||||||||||||||||||
Period end amount allocated to: | ||||||||||||||||||||||||||||||
Loans individually evaluated for impairment | $ | 303 | $ | — | $ | 28 | $ | — | $ | 331 | ||||||||||||||||||||
Loans collectively evaluated for impairment | 2,197 | 1,579 | 367 | 836 | 4,979 | |||||||||||||||||||||||||
Ending balance | $ | 2,500 | $ | 1,579 | $ | 395 | $ | 836 | $ | 5,310 | ||||||||||||||||||||
LOANS RECEIVABLE | ||||||||||||||||||||||||||||||
Loans individually evaluated for impairment | $ | 3,337 | $ | — | $ | 172 | $ | — | $ | 3,509 | ||||||||||||||||||||
Loans collectively evaluated for impairment | 116,908 | 124,080 | 44,947 | — | 285,935 | |||||||||||||||||||||||||
Ending balance | $ | 120,245 | $ | 124,080 | $ | 45,119 | $ | — | $ | 289,444 | ||||||||||||||||||||
NOTE 3 - LOANS RECEIVABLE AND ALLOWANCE FOR LOAN LOSSES (Continued) | ||||||||||||||||||||||||||||||
At or For the Three Months Ended September 30, 2012 | ||||||||||||||||||||||||||||||
ALLOWANCE FOR LOAN LOSSES | Real Estate | Consumer | Commercial | Unallocated | Total | |||||||||||||||||||||||||
Business | ||||||||||||||||||||||||||||||
Beginning balance | $ | 1,123 | $ | 2,178 | $ | 660 | $ | 371 | $ | 4,332 | ||||||||||||||||||||
Provision for loan losses | 634 | 384 | (36 | ) | (352 | ) | 630 | |||||||||||||||||||||||
Charge-offs | (226 | ) | (563 | ) | (11 | ) | — | (800 | ) | |||||||||||||||||||||
Recoveries | 1 | 196 | — | — | 197 | |||||||||||||||||||||||||
Net charge-offs | (225 | ) | (367 | ) | (11 | ) | — | (603 | ) | |||||||||||||||||||||
Ending balance | $ | 1,532 | $ | 2,195 | $ | 613 | $ | 19 | $ | 4,359 | ||||||||||||||||||||
Period end amount allocated to: | ||||||||||||||||||||||||||||||
Loans individually evaluated for impairment | $ | 167 | $ | — | $ | 28 | $ | — | $ | 195 | ||||||||||||||||||||
Loans collectively evaluated for impairment | 1,365 | 2,195 | 585 | 19 | 4,164 | |||||||||||||||||||||||||
Ending balance | $ | 1,532 | $ | 2,195 | $ | 613 | $ | 19 | $ | 4,359 | ||||||||||||||||||||
LOANS RECEIVABLE | ||||||||||||||||||||||||||||||
Loans individually evaluated for impairment | $ | 3,521 | $ | — | $ | 266 | $ | — | $ | 3,787 | ||||||||||||||||||||
Loans collectively evaluated for impairment | 80,168 | 118,166 | 61,222 | — | 259,556 | |||||||||||||||||||||||||
Ending balance | $ | 83,689 | $ | 118,166 | $ | 61,488 | $ | — | $ | 263,343 | ||||||||||||||||||||
At or For the Nine Months Ended September 30, 2012 | ||||||||||||||||||||||||||||||
ALLOWANCE FOR LOAN LOSSES | Real Estate | Consumer | Commercial | Unallocated | Total | |||||||||||||||||||||||||
Business | ||||||||||||||||||||||||||||||
Beginning balance | $ | 803 | $ | 2,846 | $ | 511 | $ | 185 | $ | 4,345 | ||||||||||||||||||||
Provision for loan losses | 1,215 | 434 | 212 | (166 | ) | 1,695 | ||||||||||||||||||||||||
Charge-offs | (490 | ) | (1,868 | ) | (110 | ) | — | (2,468 | ) | |||||||||||||||||||||
Recoveries | 4 | 783 | — | — | 787 | |||||||||||||||||||||||||
Net charge-offs | (486 | ) | (1,085 | ) | (110 | ) | — | (1,681 | ) | |||||||||||||||||||||
Ending balance | $ | 1,532 | $ | 2,195 | $ | 613 | $ | 19 | $ | 4,359 | ||||||||||||||||||||
Period end amount allocated to: | ||||||||||||||||||||||||||||||
Loans individually evaluated for impairment | $ | 167 | $ | — | $ | 28 | $ | — | $ | 195 | ||||||||||||||||||||
Loans collectively evaluated for impairment | 1,365 | 2,195 | 585 | 19 | 4,164 | |||||||||||||||||||||||||
Ending balance | $ | 1,532 | $ | 2,195 | $ | 613 | $ | 19 | $ | 4,359 | ||||||||||||||||||||
LOANS RECEIVABLE | ||||||||||||||||||||||||||||||
Loans individually evaluated for impairment | $ | 3,521 | $ | — | $ | 266 | $ | — | $ | 3,787 | ||||||||||||||||||||
Loans collectively evaluated for impairment | 80,168 | 118,166 | 61,222 | — | 259,556 | |||||||||||||||||||||||||
Ending balance | $ | 83,689 | $ | 118,166 | $ | 61,488 | $ | — | $ | 263,343 | ||||||||||||||||||||
NOTE 3 - LOANS RECEIVABLE AND ALLOWANCE FOR LOAN LOSSES (Continued) | ||||||||||||||||||||||||||||||
Information pertaining to aging analysis of past due loans are summarized as follows: | ||||||||||||||||||||||||||||||
30-Sep-13 | ||||||||||||||||||||||||||||||
Loans Past Due and Still Accruing | ||||||||||||||||||||||||||||||
30-59 Days | 60-89 Days | 90 Days or More Past Due | Total | Non-Accrual | Current | Total Loans | ||||||||||||||||||||||||
Past Due | Receivable | |||||||||||||||||||||||||||||
REAL ESTATE LOANS | ||||||||||||||||||||||||||||||
Commercial | $ | — | $ | — | $ | — | $ | — | $ | 611 | $ | 36,716 | $ | 37,327 | ||||||||||||||||
Construction and development | — | — | — | — | — | 43,088 | 43,088 | |||||||||||||||||||||||
Home equity | 389 | 249 | — | 638 | 114 | 15,501 | 16,253 | |||||||||||||||||||||||
One-to-four-family | 1,104 | — | — | 1,104 | 340 | 17,410 | 18,854 | |||||||||||||||||||||||
Multi-family | — | — | — | — | — | 4,723 | 4,723 | |||||||||||||||||||||||
Total real estate loans | 1,493 | 249 | — | 1,742 | 1,065 | 117,438 | 120,245 | |||||||||||||||||||||||
CONSUMER | ||||||||||||||||||||||||||||||
Indirect home improvement | 582 | 379 | — | 961 | 341 | 98,536 | 99,838 | |||||||||||||||||||||||
Marine | 66 | — | — | 66 | — | 20,565 | 20,631 | |||||||||||||||||||||||
Automobile | 36 | 1 | — | 37 | 2 | 1,183 | 1,222 | |||||||||||||||||||||||
Recreational | 4 | — | — | 4 | — | 580 | 584 | |||||||||||||||||||||||
Home improvement | 7 | — | — | 7 | — | 488 | 495 | |||||||||||||||||||||||
Other | 20 | — | — | 20 | — | 1,290 | 1,310 | |||||||||||||||||||||||
Total consumer loans | 715 | 380 | — | 1,095 | 343 | 122,642 | 124,080 | |||||||||||||||||||||||
COMMERCIAL | — | — | — | — | 116 | 45,003 | 45,119 | |||||||||||||||||||||||
BUSINESS LOANS | ||||||||||||||||||||||||||||||
Total | $ | 2,208 | $ | 629 | $ | — | $ | 2,837 | $ | 1,524 | $ | 285,083 | $ | 289,444 | ||||||||||||||||
NOTE 3 - LOANS RECEIVABLE AND ALLOWANCE FOR LOAN LOSSES (Continued) | ||||||||||||||||||||||||||||||
31-Dec-12 | ||||||||||||||||||||||||||||||
Loans Past Due and Still Accruing | ||||||||||||||||||||||||||||||
30-59 Days | 60-89 Days | 90 Days or More Past Due | Total | Non-Accrual | Current | Total Loans | ||||||||||||||||||||||||
Past Due | Receivable | |||||||||||||||||||||||||||||
REAL ESTATE LOANS | ||||||||||||||||||||||||||||||
Commercial | $ | — | $ | — | $ | — | — | $ | 783 | $ | 32,467 | 33,250 | ||||||||||||||||||
Construction and development | — | — | — | — | — | 31,893 | 31,893 | |||||||||||||||||||||||
Home equity | 192 | 484 | — | 676 | 248 | 14,550 | 15,474 | |||||||||||||||||||||||
One-to-four-family | — | — | — | — | 344 | 13,632 | 13,976 | |||||||||||||||||||||||
Multi-family | — | — | — | — | — | 3,202 | 3,202 | |||||||||||||||||||||||
Total real estate loans | 192 | 484 | — | 676 | 1,375 | 95,744 | 97,795 | |||||||||||||||||||||||
CONSUMER | ||||||||||||||||||||||||||||||
Indirect home improvement | 653 | 300 | — | 953 | 295 | 85,001 | 86,249 | |||||||||||||||||||||||
Marine | 84 | 2 | — | 86 | — | 17,140 | 17,226 | |||||||||||||||||||||||
Automobile | 68 | 1 | — | 69 | 10 | 2,337 | 2,416 | |||||||||||||||||||||||
Recreational | 44 | — | — | 44 | — | 698 | 742 | |||||||||||||||||||||||
Home improvement | — | — | — | — | 32 | 619 | 651 | |||||||||||||||||||||||
Other | 8 | 11 | — | 19 | — | 1,367 | 1,386 | |||||||||||||||||||||||
Total consumer loans | 857 | 314 | — | 1,171 | 337 | 107,162 | 108,670 | |||||||||||||||||||||||
COMMERCIAL | — | — | — | — | 194 | 73,271 | 73,465 | |||||||||||||||||||||||
BUSINESS LOANS | ||||||||||||||||||||||||||||||
Total | $ | 1,049 | $ | 798 | $ | — | $ | 1,847 | $ | 1,906 | $ | 276,177 | $ | 279,930 | ||||||||||||||||
NOTE 3 - LOANS RECEIVABLE AND ALLOWANCE FOR LOAN LOSSES (Continued) | ||||||||||||||||||||||||||||||
The following tables provide additional information about our impaired loans that have been segregated to reflect loans for which an allowance for credit losses has been provided and loans for which no allowance has been provided: | ||||||||||||||||||||||||||||||
At or For the Nine Months Ended September 30, 2013 | ||||||||||||||||||||||||||||||
Unpaid | Write- | Recorded | Specific | Adjusted | YTD | YTD | ||||||||||||||||||||||||
Principal | downs | Investment | Reserve | Recorded | Average | Interest | ||||||||||||||||||||||||
Balance | Investment | Recorded | Income | |||||||||||||||||||||||||||
Investment | Recognized | |||||||||||||||||||||||||||||
WITH NO RELATED ALLOWANCE RECORDED | ||||||||||||||||||||||||||||||
Commercial | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||
Construction and | — | — | — | — | — | — | — | |||||||||||||||||||||||
development | ||||||||||||||||||||||||||||||
Home equity | — | — | — | — | — | — | — | |||||||||||||||||||||||
One-to-four-family | 1,136 | (169 | ) | 967 | — | 967 | 956 | 45 | ||||||||||||||||||||||
Multi-family | — | — | — | — | — | — | — | |||||||||||||||||||||||
Indirect home | — | — | — | — | — | — | — | |||||||||||||||||||||||
improvement | ||||||||||||||||||||||||||||||
Marine | — | — | — | — | — | — | — | |||||||||||||||||||||||
Automobile | — | — | — | — | — | — | — | |||||||||||||||||||||||
Recreational | — | — | — | — | — | — | — | |||||||||||||||||||||||
Home improvement | — | — | — | — | — | — | — | |||||||||||||||||||||||
Other | — | — | — | — | — | — | — | |||||||||||||||||||||||
Commercial business | 166 | (72 | ) | 94 | — | 94 | 94 | — | ||||||||||||||||||||||
loans | ||||||||||||||||||||||||||||||
Subtotal loans | 1,302 | (241 | ) | 1,061 | — | 1,061 | 1,050 | 45 | ||||||||||||||||||||||
WITH AN ALLOWANCE RECORDED | ||||||||||||||||||||||||||||||
Commercial | 2,248 | (109 | ) | 2,139 | (244 | ) | 1,895 | 2,183 | 62 | |||||||||||||||||||||
Construction and | — | — | — | — | — | — | — | |||||||||||||||||||||||
development | ||||||||||||||||||||||||||||||
Home equity | 90 | — | 90 | (38 | ) | 52 | 90 | — | ||||||||||||||||||||||
One-to-four-family | 159 | (18 | ) | 141 | (21 | ) | 120 | 157 | — | |||||||||||||||||||||
Multi-family | — | — | — | — | — | — | — | |||||||||||||||||||||||
Indirect home | — | — | — | — | — | — | — | |||||||||||||||||||||||
improvement | ||||||||||||||||||||||||||||||
Marine | — | — | — | — | — | — | — | |||||||||||||||||||||||
Automobile | — | — | — | — | — | — | — | |||||||||||||||||||||||
Recreational | — | — | — | — | — | — | — | |||||||||||||||||||||||
Home improvement | — | — | — | — | — | — | — | |||||||||||||||||||||||
Other | — | — | — | — | — | — | — | |||||||||||||||||||||||
Commercial business | 81 | (3 | ) | 78 | (28 | ) | 50 | 68 | 1 | |||||||||||||||||||||
loans | ||||||||||||||||||||||||||||||
Subtotal loans | 2,578 | (130 | ) | 2,448 | (331 | ) | 2,117 | 2,498 | 63 | |||||||||||||||||||||
Total | $ | 3,880 | $ | (371 | ) | $ | 3,509 | $ | (331 | ) | $ | 3,178 | $ | 3,548 | $ | 108 | ||||||||||||||
NOTE 3 - LOANS RECEIVABLE AND ALLOWANCE FOR LOAN LOSSES (Continued) | ||||||||||||||||||||||||||||||
At or For the Year Ended December 31, 2012 | ||||||||||||||||||||||||||||||
Unpaid | Write- | Recorded | Specific | Adjusted | YTD | YTD | ||||||||||||||||||||||||
Principal | downs | Investment | Reserve | Recorded | Average | Interest | ||||||||||||||||||||||||
Balance | Investment | Recorded | Income | |||||||||||||||||||||||||||
Investment | Recognized | |||||||||||||||||||||||||||||
WITH NO RELATED ALLOWANCE RECORDED | ||||||||||||||||||||||||||||||
Commercial | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||
Construction and | — | — | — | — | — | — | — | |||||||||||||||||||||||
development | ||||||||||||||||||||||||||||||
Home equity | 111 | — | 111 | — | 111 | 112 | 3 | |||||||||||||||||||||||
One-to-four-family | 1,295 | (170 | ) | 1,125 | — | 1,125 | 1,172 | 30 | ||||||||||||||||||||||
Multi-family | — | — | — | — | — | — | — | |||||||||||||||||||||||
Indirect home | — | — | — | — | — | — | — | |||||||||||||||||||||||
improvement | ||||||||||||||||||||||||||||||
Marine | — | — | — | — | — | — | — | |||||||||||||||||||||||
Automobile | — | — | — | — | — | — | — | |||||||||||||||||||||||
Recreational | — | — | — | — | — | — | — | |||||||||||||||||||||||
Home improvement | — | — | — | — | — | — | — | |||||||||||||||||||||||
Other | — | — | — | — | — | — | — | |||||||||||||||||||||||
Commercial business | 241 | (111 | ) | 130 | — | 130 | 172 | — | ||||||||||||||||||||||
loans | ||||||||||||||||||||||||||||||
Subtotal loans | 1,647 | (281 | ) | 1,366 | — | 1,366 | 1,456 | 33 | ||||||||||||||||||||||
WITH AN ALLOWANCE RECORDED | ||||||||||||||||||||||||||||||
Commercial | 950 | (167 | ) | 783 | (39 | ) | 744 | 893 | 7 | |||||||||||||||||||||
Construction and | — | — | — | — | — | — | — | |||||||||||||||||||||||
development | ||||||||||||||||||||||||||||||
Home equity | 1,625 | (38 | ) | 1,587 | (79 | ) | 1,508 | 1,616 | 68 | |||||||||||||||||||||
One-to-four-family | — | — | — | — | — | — | — | |||||||||||||||||||||||
Multi-family | — | — | — | — | — | — | — | |||||||||||||||||||||||
Indirect home | — | — | — | — | — | — | — | |||||||||||||||||||||||
improvement | ||||||||||||||||||||||||||||||
Marine | — | — | — | — | — | — | — | |||||||||||||||||||||||
Automobile | — | — | — | — | — | — | — | |||||||||||||||||||||||
Recreational | — | — | — | — | — | — | — | |||||||||||||||||||||||
Home improvement | — | — | — | — | — | — | — | |||||||||||||||||||||||
Other | — | — | — | — | — | — | — | |||||||||||||||||||||||
Commercial business | 67 | (3 | ) | 64 | (7 | ) | 57 | 68 | 5 | |||||||||||||||||||||
loans | ||||||||||||||||||||||||||||||
Subtotal loans | 2,642 | (208 | ) | 2,434 | (125 | ) | 2,309 | 2,577 | 80 | |||||||||||||||||||||
Total | $ | 4,289 | $ | (489 | ) | $ | 3,800 | $ | (125 | ) | $ | 3,675 | $ | 4,033 | $ | 113 | ||||||||||||||
The average recorded investment in impaired loans was unchanged at $3.5 million and $3.8 million for the three and nine months ended September 30, 2013, and 2012, respectively. For the three and nine months ended September 30, 2013, the Company recognized interest income on impaired loans of $28,000 and $108,000, respectively, compared to $96,000 and $100,000, respectively, for same periods a year ago. | ||||||||||||||||||||||||||||||
NOTE 3 - LOANS RECEIVABLE AND ALLOWANCE FOR LOAN LOSSES (Continued) | ||||||||||||||||||||||||||||||
Credit Quality Indicators | ||||||||||||||||||||||||||||||
As part of the Company’s on-going monitoring of credit quality of the loan portfolio, management tracks certain credit quality indicators including trends related to (i) the risk grading of loans, (ii) the level of classified loans, (iii) net charge-offs, (iv) non-performing loans and (v) the general economic conditions in the Company’s market. | ||||||||||||||||||||||||||||||
The Company utilizes a risk grading matrix to assign a risk grade to its real estate and commercial business loans. Loans are graded on a scale of 1 to 10, with loans in risk grades 1 to 6 considered “Pass” and loans in risk grades 7 to 10 are reported as classified loans in the Company's allowance for loan loss analysis. | ||||||||||||||||||||||||||||||
A description of the 10 risk grades is as follows: | ||||||||||||||||||||||||||||||
• | Grades 1 and 2 – These grades include loans to very high quality borrowers with excellent or desirable business credit. | |||||||||||||||||||||||||||||
• | Grade 3 – This grade includes loans to borrowers of good business credit with moderate risk. | |||||||||||||||||||||||||||||
• | Grades 4 and 5 – These grades include “Pass” grade loans to borrowers of average credit quality and risk. | |||||||||||||||||||||||||||||
• | Grade 6 – This grade includes loans on management’s “Watch” list and is intended to be utilized on a temporary basis for “Pass” grade borrowers where frequent and thorough monitoring is required due to credit weaknesses and where significant risk-modifying action is anticipated in the near term. | |||||||||||||||||||||||||||||
• | Grade 7 – This grade is for “Other Assets Especially Mentioned (OAEM)” in accordance with regulatory guidelines and includes borrowers where performance is poor or significantly less than expected. | |||||||||||||||||||||||||||||
• | Grade 8 – This grade includes “Substandard” loans in accordance with regulatory guidelines which represent an unacceptable business credit where a loss is possible if loan weakness is not corrected. | |||||||||||||||||||||||||||||
• | Grade 9 – This grade includes “Doubtful” loans in accordance with regulatory guidelines where a loss is highly probable. | |||||||||||||||||||||||||||||
• | Grade 10 – This grade includes “Loss” loans in accordance with regulatory guidelines for which total loss is expected and when identified are charged off. | |||||||||||||||||||||||||||||
Consumer, Home Equity and One-to-Four-Family Real Estate Loans | ||||||||||||||||||||||||||||||
Homogeneous loans are risk rated based upon the FDIC's Uniform Retail Credit Classification and Account Management Policy. Loans classified under this policy at the Company are consumer loans which include indirect home improvement, recreational, automobile, direct home improvement and other, and one-to-four-family first and second liens. Under the Uniform Retail Credit Classification Policy, loans that are current or less than 90 days past due are graded “Pass” and risk graded "4" internally. Loans that are past due more than 90 days are classified “Substandard” and risk graded "8" internally. At 120 days past due, homogeneous loans are charged off based on the value of the collateral less cost to sell. | ||||||||||||||||||||||||||||||
NOTE 3 - LOANS RECEIVABLE AND ALLOWANCE FOR LOAN LOSSES (Continued) | ||||||||||||||||||||||||||||||
The following tables summarize risk rated loan balances by category: | ||||||||||||||||||||||||||||||
30-Sep-13 | ||||||||||||||||||||||||||||||
Pass (1 - 5) | Watch (6) | Special | Substandard (8) | Doubtful(9) | Loss (10) | Total | ||||||||||||||||||||||||
Mention (7) | ||||||||||||||||||||||||||||||
REAL ESTATE LOANS | ||||||||||||||||||||||||||||||
Commercial | $ | 35,187 | $ | — | $ | — | $ | 2,140 | $ | — | $ | — | $ | 37,327 | ||||||||||||||||
Construction and development | 43,088 | — | — | — | — | — | 43,088 | |||||||||||||||||||||||
Home equity | 16,139 | — | — | 114 | — | — | 16,253 | |||||||||||||||||||||||
One-to-four-family | 17,746 | — | — | 1,108 | — | — | 18,854 | |||||||||||||||||||||||
Multi-family | 4,723 | — | — | — | — | — | 4,723 | |||||||||||||||||||||||
Total real estate loans | 116,883 | — | — | 3,362 | — | — | 120,245 | |||||||||||||||||||||||
CONSUMER | ||||||||||||||||||||||||||||||
Indirect home improvement | 99,497 | — | — | 341 | — | — | 99,838 | |||||||||||||||||||||||
Marine | 20,631 | — | — | — | — | — | 20,631 | |||||||||||||||||||||||
Automobile | 1,220 | — | — | 2 | — | — | 1,222 | |||||||||||||||||||||||
Recreational | 584 | — | — | — | — | — | 584 | |||||||||||||||||||||||
Home improvement | 495 | — | — | — | — | — | 495 | |||||||||||||||||||||||
Other | 1,310 | — | — | — | — | — | 1,310 | |||||||||||||||||||||||
Total consumer loans | 123,737 | — | — | 343 | — | — | 124,080 | |||||||||||||||||||||||
COMMERCIAL BUSINESS LOANS | 44,157 | 790 | — | 150 | — | 22 | 45,119 | |||||||||||||||||||||||
Total | $ | 284,777 | $ | 790 | $ | — | $ | 3,855 | $ | — | $ | 22 | $ | 289,444 | ||||||||||||||||
31-Dec-12 | ||||||||||||||||||||||||||||||
Pass (1 - 5) | Watch (6) | Special | Substandard (8) | Doubtful(9) | Loss (10) | Total | ||||||||||||||||||||||||
Mention (7) | ||||||||||||||||||||||||||||||
REAL ESTATE LOANS | ||||||||||||||||||||||||||||||
Commercial | $ | 29,145 | $ | 3,322 | $ | — | $ | 783 | $ | — | $ | — | $ | 33,250 | ||||||||||||||||
Construction and development | 30,306 | — | — | 1,587 | — | — | 31,893 | |||||||||||||||||||||||
Home equity | 15,226 | — | — | 248 | — | — | 15,474 | |||||||||||||||||||||||
One-to-four-family | 12,851 | — | — | 1,125 | — | — | 13,976 | |||||||||||||||||||||||
Multi-family | 3,202 | — | — | — | — | — | 3,202 | |||||||||||||||||||||||
Total real estate loans | 90,730 | 3,322 | — | 3,743 | — | — | 97,795 | |||||||||||||||||||||||
CONSUMER | ||||||||||||||||||||||||||||||
Indirect home improvement | 85,954 | — | — | 295 | — | — | 86,249 | |||||||||||||||||||||||
Marine | 17,226 | — | — | — | — | — | 17,226 | |||||||||||||||||||||||
Automobile | 2,406 | — | — | 10 | — | — | 2,416 | |||||||||||||||||||||||
Recreational | 742 | — | — | — | — | — | 742 | |||||||||||||||||||||||
Home improvement | 619 | — | — | 32 | — | — | 651 | |||||||||||||||||||||||
Other | 1,386 | — | — | — | — | — | 1,386 | |||||||||||||||||||||||
Total consumer loans | 108,333 | — | — | 337 | — | — | 108,670 | |||||||||||||||||||||||
COMMERCIAL BUSINESS LOANS | 72,596 | — | 675 | 194 | — | — | 73,465 | |||||||||||||||||||||||
Total | $ | 271,659 | $ | 3,322 | $ | 675 | $ | 4,274 | $ | — | $ | — | $ | 279,930 | ||||||||||||||||
NOTE 3 - LOANS RECEIVABLE AND ALLOWANCE FOR LOAN LOSSES (Continued) | ||||||||||||||||||||||||||||||
Troubled Debt Restructured Loans | ||||||||||||||||||||||||||||||
The Company had five and three troubled debt restructured ("TDR") loans still on accrual and included in impaired loans at September 30, 2013 and at December 31, 2012, respectively. In addition, at September 30, 2013 and December 31, 2012 the Company had one and three loans on non-accrual of $44,000 and $892,000, respectively. The one non-accrual loan at September 30, 2013 was a home equity loan. The Company had no commitments to lend additional funds on these restructured loans. | ||||||||||||||||||||||||||||||
A summary of TDR loans at the dates indicated is as follows: | ||||||||||||||||||||||||||||||
September 30, | December 31, | |||||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||||||
Troubled debt restructured loans still on accrual | $ | 2,353 | $ | 2,368 | ||||||||||||||||||||||||||
44 | 892 | |||||||||||||||||||||||||||||
Troubled debt restructured loans on non-accrual | ||||||||||||||||||||||||||||||
$ | 2,397 | $ | 3,260 | |||||||||||||||||||||||||||
Total troubled debt restructured loans | ||||||||||||||||||||||||||||||
The following tables present loans that became TDRs during the following periods: | ||||||||||||||||||||||||||||||
At or For the Three Months Ended September 30, | ||||||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||||||
Number of | Recorded | Increase in | Charge-offs | Number of | Recorded | Increase in | Charge-offs | |||||||||||||||||||||||
Contracts | Investment | Allowance | to the | Contracts | Investment | Allowance | to the | |||||||||||||||||||||||
Allowance | Allowance | |||||||||||||||||||||||||||||
— | $ | — | $ | — | $ | — | — | $ | — | $ | — | $ | — | |||||||||||||||||
Total | — | $ | — | $ | — | $ | — | — | $ | — | $ | — | $ | — | ||||||||||||||||
At or For the Nine Months Ended September 30, | ||||||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||||||
Number of | Recorded | Increase in | Charge-offs | Number of | Recorded | Increase in | Charge-offs | |||||||||||||||||||||||
Contracts | Investment | the Allowance | to the | Contracts | Investment | Allowance | to the | |||||||||||||||||||||||
Allowance | Allowance | |||||||||||||||||||||||||||||
Commercial Business | 1 | $ | 35 | $ | — | $ | 35 | 1 | $ | 70 | $ | 7 | $ | 2 | ||||||||||||||||
Total | 1 | $ | 35 | $ | — | $ | 35 | 1 | $ | 70 | $ | 7 | $ | 2 | ||||||||||||||||
There were no TDRs recorded in the twelve months prior to September 30, 2013 and 2012, that subsequently defaulted in the nine months ended September 30, 2013 and 2012, respectively. | ||||||||||||||||||||||||||||||
The recorded investments in the tables above are period end balances that are inclusive of all partial pay-downs and charge-offs since the modification date. Loans modified in a TDR that were fully paid down, charged off, or foreclosed upon by the period end are not included. | ||||||||||||||||||||||||||||||
TDRs in the tables above were the result of interest rate modifications and extended payment terms. The Company has not forgiven any principal on the above loans. |
Servicing_Rights
Servicing Rights | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Fair Value, Off-balance Sheet Risk [Abstract] | ' | |||||||
Servicing Rights | ' | |||||||
SERVICING RIGHTS | ||||||||
Loans serviced for others are not included on the consolidated balance sheets. The unpaid principal balances of mortgage, commercial and consumer loans serviced for others were $230.0 million and $130.5 million at September 30, 2013 and December 31, 2012, respectively. The fair market value of the mortgage, commercial and consumer servicing rights’ asset at September 30, 2013 and December 31, 2012 was $2.3 million and $1.1 million, respectively, included in other assets. Fair value adjustments to mortgage, commercial and consumer servicing rights were mainly due to market based assumptions associated with loan prepayment speeds and changes in interest rates. | ||||||||
The following table summarizes mortgage, commercial and consumer servicing rights activity for the three and nine months ended September 30, 2013 and 2012: | ||||||||
At or For the Three Months Ended | ||||||||
September 30, | ||||||||
2013 | 2012 | |||||||
$ | 1,785 | $ | 425 | |||||
Beginning balance | ||||||||
Additions | 350 | 327 | ||||||
Mortgage, commercial and consumer servicing rights amortized | (110 | ) | (36 | ) | ||||
(Impairment) recovery of loss on servicing rights | 2 | (108 | ) | |||||
Ending balance | $ | 2,027 | $ | 608 | ||||
At or For the Nine Months Ended | ||||||||
September 30, | ||||||||
2013 | 2012 | |||||||
$ | 1,064 | $ | 200 | |||||
Beginning balance | ||||||||
Additions | 1,141 | 596 | ||||||
Mortgage, commercial and consumer servicing rights amortized | (280 | ) | (83 | ) | ||||
(Impairment) recovery of loss on servicing rights | 102 | (105 | ) | |||||
Ending balance | $ | 2,027 | $ | 608 | ||||
Derivatives
Derivatives | 9 Months Ended |
Sep. 30, 2013 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' |
Derivatives | ' |
DERIVATIVES | |
The Company regularly enters into commitments to originate and sell loans held for sale. The Company has established a hedging strategy to protect itself against the risk of loss associated with interest rate movements on loan commitments. The Company enters into contracts to sell forward To-Be-Announced ("TBA") mortgage-backed securities. These commitments and contracts are considered derivatives but have not been designated as hedging instruments. Rather, they are accounted for as free-standing derivatives, or economic hedges, with changes in the fair value of the derivatives reported in noninterest income. The Company recognizes all derivative instruments as either other assets or other liabilities on the consolidated balance sheet and measures those instruments at fair value. | |
As of September 30, 2013, the Company had fallout adjusted interest rate lock commitments with customers of $17.0 million, with a fair value of $642,000. The Company also had mandatory and best effort forward commitments with investors with a notional balance of $4.4 million, and a fair market value of ($53,000), included in other liabilities. | |
The Company had forward TBA mortgage-backed securities of $19.5 million at September 30, 2013, with a fair value of ($398,000). The Company also had TBA mortgage-backed securities forward sales that had been paired off with | |
NOTE 5 - DERIVATIVES (Continued) | |
investors of $11.0 million, with the fair value of these pair off commitments of $13,000 at September 30, 2013 included in other assets. | |
The income on derivatives from fair value changes recognized in other noninterest income on the consolidated statements of operations, included in gain on sale of loans was $42,000 and none for the three months ended September 30, 2013 and 2012, respectively and $1.4 million and none for the nine months ended September 30, 2013 and 2012, respectively. | |
Derivatives were considered to be immaterial for the year ended December 31, 2012. |
Other_Real_Estate_Owned
Other Real Estate Owned | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Banking and Thrift [Abstract] | ' | |||||||||||||||
Other Real Estate Owned | ' | |||||||||||||||
OTHER REAL ESTATE OWNED | ||||||||||||||||
The following table presents the activity related to OREO for the three and nine months ended September 30, 2013 and 2012: | ||||||||||||||||
For the Three Months Ended September 30, | For the Nine Months Ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Beginning balance | $ | 1,805 | $ | 2,950 | $ | 2,127 | $ | 4,589 | ||||||||
Additions | 605 | — | 642 | 921 | ||||||||||||
Fair value write-downs | (151 | ) | (99 | ) | (347 | ) | (693 | ) | ||||||||
Disposition of assets | — | (530 | ) | (163 | ) | (2,496 | ) | |||||||||
Ending balance | $ | 2,259 | $ | 2,321 | $ | 2,259 | $ | 2,321 | ||||||||
At September 30, 2013, OREO consisted of five properties located in Washington, with balances ranging from $36,000 to $797,000. For the three months ended September 30, 2013 and 2012, the Company recorded no net loss, and for the nine months ended September 30, 2013 and 2012, the Company recorded no net loss and a $35,000 net loss, respectively, on disposals of OREO. Holding costs associated with OREO were $41,000 and $57,000, for the three months ended September 30, 2013 and 2012, and $79,000 and $155,000, for the nine months ended September 30, 2013 and 2012, respectively. |
Deposits
Deposits | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Banking and Thrift [Abstract] | ' | |||||||||||||||
Deposits | ' | |||||||||||||||
September 30, | December 31, | |||||||||||||||
2013 | 2012 | |||||||||||||||
Interest-bearing checking | $ | 27,836 | $ | 24,348 | ||||||||||||
Noninterest-bearing checking | 42,579 | 34,165 | ||||||||||||||
Savings | 14,821 | 11,812 | ||||||||||||||
Money market | 115,652 | 114,246 | ||||||||||||||
Certificates of deposits of less than $100,000(1) | 42,893 | 40,119 | ||||||||||||||
Certificates of deposits of $100,000 through $250,000 | 48,722 | 43,810 | ||||||||||||||
Certificates of deposits of more than $250,000 | 24,365 | 20,449 | ||||||||||||||
Total | $ | 316,868 | $ | 288,949 | ||||||||||||
(1): Includes $16.9 million and $13.9 million of brokered deposits as of September 30, 2013 and December 31, 2012, respectively. | ||||||||||||||||
Scheduled maturities of time deposits for future periods ending were as follows: | ||||||||||||||||
As of September 30, | ||||||||||||||||
2013 | ||||||||||||||||
2013 | $ | 15,605 | ||||||||||||||
2014 | 47,961 | |||||||||||||||
2015 | 34,953 | |||||||||||||||
2016 | 8,768 | |||||||||||||||
2017 | 5,007 | |||||||||||||||
Thereafter | 3,686 | |||||||||||||||
Total | $ | 115,980 | ||||||||||||||
The Bank pledged two securities held at the Federal Home Loan Bank ("FHLB") of Seattle with a fair value of $1.2 million to secure Washington State public deposits of $250,000 with a collateral requirement of $117,000, at September 30, 2013. | ||||||||||||||||
Federal Reserve regulations require that the Bank maintain reserves in the form of cash on hand and deposit balances with the FRB, based on a percentage of deposits. The amounts of such balances at September 30, 2013 and December 31, 2012 were $1.4 million and $1.3 million, respectively and were in compliance with FRB regulations. | ||||||||||||||||
Interest expense by deposit category for the three and nine months ended September 30, 2013 and 2012 was as follows: | ||||||||||||||||
For Three Months Ended September 30, | For Nine Months Ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
$ | 9 | $ | 11 | $ | 25 | $ | 41 | |||||||||
Interest-bearing checking | ||||||||||||||||
Savings and money market | 138 | 136 | 396 | 447 | ||||||||||||
Certificates of deposit | 355 | 396 | 1,017 | 1,227 | ||||||||||||
Total | $ | 502 | $ | 543 | $ | 1,438 | $ | 1,715 | ||||||||
Income_Taxes
Income Taxes | 9 Months Ended |
Sep. 30, 2013 | |
Income Tax Disclosure [Abstract] | ' |
Income Taxes | ' |
INCOME TAXES | |
The Company recorded a provision for income taxes of $1.8 million during the nine months ended September 30, 2013. During the nine months ended September 30, 2012, the Company recorded a net $2.3 million income tax benefit which was the result of reversing substantially all of the deferred tax asset valuation allowance. | |
At September 30, 2013, the Company had net operating loss carryforwards of approximately $963,000, which begin to expire in 2028. The Company files a consolidated U.S. Federal income tax return, which is subject to examinations by tax authorities for years 2010 and later. At September 30, 2013, the Company had no uncertain tax positions. The Company recognizes interest and penalties in tax expense and at September 30, 2013, the Company had recognized no interest and penalties. | |
The Company may also be subject to certain limitations under Section 382 of the Internal Revenue Code that relates to the utilization of the net operating losses and other tax benefits following an ownership change. |
Commitments_and_Contingencies
Commitments and Contingencies | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | |||||||
Commitments and Contingencies | ' | |||||||
NOTE 9 – COMMITMENTS AND CONTINGENCIES | ||||||||
Commitments – The Company is party to financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit. These instruments involve, to varying degrees, elements of credit risk in excess of the amount recognized on the balance sheet. | ||||||||
The Company's exposure to credit loss in the event of nonperformance by the other party to the financial instrument for commitments to extend credit is represented by the contractual amount of those instruments. The Company uses the same credit policies in making commitments and conditional obligations as it does for on-balance sheet instruments. | ||||||||
A summary of the Company’s commitments at September 30, 2013 and December 31, 2012 were as follows: | ||||||||
September 30, | December 31, | |||||||
2013 | 2012 | |||||||
COMMITMENTS TO EXTEND CREDIT | ||||||||
REAL ESTATE LOANS | ||||||||
Construction and development | $ | 29,462 | $ | 27,347 | ||||
One-to-four-family | 24,154 | 19,313 | ||||||
Home equity | 11,187 | 11,928 | ||||||
Commercial/Multi-family | 518 | 3,241 | ||||||
Total real estate loans | 65,321 | 61,829 | ||||||
CONSUMER LOANS | ||||||||
Indirect home improvement | 388 | 568 | ||||||
Other | 6,206 | 6,225 | ||||||
Total consumer loans | 6,594 | 6,793 | ||||||
COMMERCIAL BUSINESS LOANS | 58,231 | 41,025 | ||||||
Total commitments to extend credit | $ | 130,146 | $ | 109,647 | ||||
Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Since many of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. The Company evaluates each customer’s creditworthiness on a case-by-case basis. The amount of collateral obtained, if deemed necessary by the Company upon extension of credit, is based on management’s credit evaluation of the party. Collateral held varies, but may include | ||||||||
NOTE 9 – COMMITMENTS AND CONTINGENCIES (Continued) | ||||||||
accounts receivable, inventory, property and equipment, residential real estate, and income-producing commercial properties. | ||||||||
Unfunded commitments under commercial lines-of-credit, revolving credit lines and overdraft protection agreements are commitments for possible future extensions of credit to existing customers. These lines-of-credit are uncollateralized and usually do not contain a specified maturity date and ultimately may not be drawn upon to the total extent to which the Company is committed. The Company has established reserves for estimated losses from unfunded commitments of $58,000 and $49,000 as of September 30, 2013 and December 31, 2012, respectively. One-to-four-family commitments listed above are accounted for as fair value derivatives and do not carry an associated loss reserve. | ||||||||
The Company has entered into a severance agreement (the “Agreement”) with its Chief Executive Officer. The Agreement, subject to certain requirements, generally includes a lump sum payment to the Chief Executive Officer equal to 24 months of base compensation in the event his employment is involuntarily terminated, other than for cause or the executive terminates his employment with good reason, as defined in the Agreement. | ||||||||
The Company has entered into change of control agreements (the “Agreements”) with its Chief Financial Officer and the Chief Operating Officer. The Agreements, subject to certain requirements, generally remain in effect until canceled by either party upon at least 24 months prior written notice. Under the Agreements the executive generally will be entitled to a change of control payment from the Company if they are involuntarily terminated within six months preceding or 12 months after a change in control (as defined in the Agreements). In such an event, the executives would each be entitled to receive a cash payment in an amount equal to 12 months of their then current salary, subject to certain requirements in the Agreements. | ||||||||
Because of the nature of our activities, the Company is subject to various pending and threatened legal actions, which arise in the ordinary course of business. From time to time, subordination liens may create litigation which requires us to defend our lien rights. In the opinion of management, liabilities arising from these claims, if any, will not have a material effect on our financial position. | ||||||||
In the ordinary course of business, the Company sells loans without recourse that may have to subsequently be repurchased due to defects that occurred during the origination of the loan. The defects are categorized as documentation errors, underwriting errors, early payment defaults, breach of representation or warranty, and fraud. When a loan sold to an investor without recourse fails to perform according to its contractual terms, the investor will typically review the loan file to determine whether defects in the origination process occurred. If a defect is identified, the Company may be required to either repurchase the loan or indemnify the investor for losses sustained. If there are no such defects, the Company has no commitment to repurchase the loan. The Company has recorded a $159,000 reserve to cover loss exposure related to these guarantees for one-to-four-family loans sold into the secondary market at September 30, 2013. | ||||||||
In the third quarter of 2013, the Company sold a portion of the consumer loan portfolio with an unpaid principal balance of approximately $5.2 million. Under the terms of this sale, the Company had recourse for loans that become past due more than 50 days before March 31, 2014 and had recorded a reserve of $42,000 for this potential past due recourse. |
Significant_Concentration_of_C
Significant Concentration of Credit Risk | 9 Months Ended |
Sep. 30, 2013 | |
Risks and Uncertainties [Abstract] | ' |
Significant Concentration of Credit Risk | ' |
SIGNIFICANT CONCENTRATION OF CREDIT RISK | |
Most of the Company’s business activity is primarily with customers located in the greater Puget Sound area. The Company originates real estate and consumer loans and has concentrations in these areas. Generally loans are secured by deposit accounts, personal property, or real estate. Rights to collateral vary and are legally documented to the extent practicable. Local economic conditions may affect borrowers’ ability to meet the stated repayment terms. |
Regulatory_Capital
Regulatory Capital | 9 Months Ended | ||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||
Regulatory Capital Requirements [Abstract] | ' | ||||||||||||||||||||
Regulatory Capital | ' | ||||||||||||||||||||
REGULATORY CAPITAL | |||||||||||||||||||||
FS Bancorp, Inc. and its subsidiary bank are subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory – and possibly additional discretionary – actions by regulators that, if undertaken, could have a direct material effect on the Company's consolidated financial statements. Under capital adequacy guidelines of the regulatory framework for prompt corrective | |||||||||||||||||||||
action, the Company must meet specific capital adequacy guidelines that involve quantitative measures of the Company’s assets, liabilities, and certain off-balance sheet items as calculated under regulatory accounting practices. The Company’s capital classification is also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. | |||||||||||||||||||||
Quantitative measures established by regulation to ensure capital adequacy require the Bank to maintain minimum amounts and ratios (set forth in the table below) of Tier 1 Capital (as defined in the regulations) to total average assets (as defined), and minimum ratios of Tier 1 and total capital (as defined) to risk-weighted assets (as defined). | |||||||||||||||||||||
As of September 30, 2013 and December 31, 2012, the Bank was categorized as "well capitalized" under the regulatory framework for prompt corrective action. To be categorized as well capitalized, the Bank must maintain minimum total Risk-Based, Tier 1 Risk-Based, and Tier 1 Leverage ratios as set forth in the table below. There are no conditions or events since that notification that management believes have changed the Bank’s category. At September 30, 2013, the Bank exceeded all regulatory capital requirements with Tier 1 Leverage-Based Capital, Tier 1 Risk- Based Capital and Total Risk-Based Capital ratios of 12.7%, 15.6%, and 16.9%, respectively. | |||||||||||||||||||||
The Bank’s actual capital amounts and ratios at September 30, 2013 and December 31, 2012 are also presented in the table. | |||||||||||||||||||||
To be Well Capitalized | |||||||||||||||||||||
For Capital | Under Prompt Corrective | ||||||||||||||||||||
Actual | Adequacy Purposes | Action Provisions | |||||||||||||||||||
Amount | Ratio | Amount | Ratio | Amount | Ratio | ||||||||||||||||
As of September 30, 2013 | |||||||||||||||||||||
Total Risk-Based Capital | |||||||||||||||||||||
(to Risk-weighted Assets) | $ | 54,521 | 16.86 | % | $ | 25,868 | 8 | % | $ | 32,335 | 10 | % | |||||||||
Tier 1 Risk-Based Capital | |||||||||||||||||||||
(to Risk-weighted Assets) | $ | 50,460 | 15.61 | % | $ | 12,934 | 4 | % | $ | 19,401 | 6 | % | |||||||||
Tier 1 Leverage Capital | |||||||||||||||||||||
(to Average Assets) | $ | 50,460 | 12.74 | % | $ | 15,840 | 4 | % | $ | 19,800 | 5 | % | |||||||||
As of December 31, 2012 | |||||||||||||||||||||
Total Risk-Based Capital | |||||||||||||||||||||
(to Risk-weighted Assets) | $ | 50,591 | 16 | % | $ | 25,294 | 8 | % | $ | 31,617 | 10 | % | |||||||||
Tier 1 Risk-Based Capital | |||||||||||||||||||||
(to Risk-weighted Assets) | $ | 46,627 | 14.75 | % | $ | 12,647 | 4 | % | $ | 18,970 | 6 | % | |||||||||
Tier 1 Leverage Capital | |||||||||||||||||||||
(to Average Assets) | $ | 46,627 | 13.26 | % | $ | 14,066 | 4 | % | $ | 17,583 | 5 | % | |||||||||
NOTE 11 – REGULATORY CAPITAL (Continued) | |||||||||||||||||||||
Regulatory capital levels reported above differ from the Company's total equity, computed in accordance with U.S. GAAP. | |||||||||||||||||||||
Company | Bank | ||||||||||||||||||||
September 30, | December 31, | September 30, | December 31, | ||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||
Equity | $ | 62,234 | $ | 59,897 | $ | 50,182 | $ | 47,836 | |||||||||||||
Unrealized loss (gain) on securities available-for-sale | 481 | (597 | ) | 481 | (597 | ) | |||||||||||||||
Disallowed deferred tax assets | — | (506 | ) | — | (506 | ) | |||||||||||||||
Disallowed servicing assets | (203 | ) | (106 | ) | (203 | ) | (106 | ) | |||||||||||||
Total Tier 1 capital | 62,512 | 58,688 | 50,460 | 46,627 | |||||||||||||||||
Allowance for loan and lease losses for | 4,061 | 3,964 | 4,061 | 3,964 | |||||||||||||||||
regulatory capital purposes | |||||||||||||||||||||
Total risk-based capital | $ | 66,573 | $ | 62,652 | $ | 54,521 | $ | 50,591 | |||||||||||||
The Company exceeded all regulatory capital requirements as of September 30, 2013. The regulatory capital ratios calculated for the Company as of September 30, 2013 were 15.9% for Tier 1 Leverage-Based Capital, 19.3% for Tier 1 Risk-Based Capital and 20.6% for Total Risk-Based Capital. |
Fair_Value_of_Financial_Instru
Fair Value of Financial Instruments | 9 Months Ended | |||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||||||
Fair Value of Financial Instruments | ' | |||||||||||||||||||
FAIR VALUE OF FINANCIAL INSTRUMENTS | ||||||||||||||||||||
Accounting guidance regarding fair value measurements defines fair value and establishes a framework for measuring fair value in accordance with U.S. GAAP. Fair value is the exchange price that would be received for an asset or paid to transfer a liability in an orderly transaction between market participants on the measurement date. The following definitions describe the levels of inputs that may be used to measure fair value: | ||||||||||||||||||||
Level 1 – Inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. | ||||||||||||||||||||
Level 2 – Inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. | ||||||||||||||||||||
Level 3 – Inputs to the valuation methodology are unobservable and significant to the fair value measurement. | ||||||||||||||||||||
Determination of Fair Market Values: | ||||||||||||||||||||
Securities - Securities available-for-sale are recorded at fair value on a recurring basis. The fair value of investments and mortgage-backed securities are provided by a third-party pricing service. These valuations are based on market data using pricing models that vary by asset class and incorporate available current trade, bid and other market information, and for structured securities, cash flow and loan performance data. The pricing processes utilize benchmark curves, benchmarking of similar securities, sector groupings, and matrix pricing. Option adjusted spread models are also used to assess the impact of changes in interest rates and to develop prepayment scenarios. All models and processes used take into account market convention (Level 2). | ||||||||||||||||||||
NOTE 12 – FAIR VALUE OF FINANCIAL INSTRUMENTS (Continued) | ||||||||||||||||||||
Derivative Instruments - The fair value of the interest rate lock commitments and forward sales commitments are estimated using quoted or published market prices for similar instruments, adjusted for factors such as pull-through rate assumptions based on historical information, where appropriate. TBA mortgage-backed securities are fair valued | ||||||||||||||||||||
on similar contracts in active markets (Level 2) while locks and forwards with customers and investors are valued using a similar contracts in the market and changes in the market interest rates (Level 3). | ||||||||||||||||||||
Impaired Loans – Fair value adjustments to impaired collateral dependent loans are recorded to reflect partial write-downs based on the current appraised value of the collateral or internally developed models, which contain management’s assumptions (Level 3). | ||||||||||||||||||||
Other Real Estate Owned – Fair value adjustments to OREO are recorded at the lower of carrying amount of the loan or fair value less selling costs. Any write-downs based on the asset’s fair value at the date of acquisition are charged to the allowance for loan losses. After foreclosure, management periodically performs valuations such that the real estate is carried at the lower of its new cost basis or fair value, net of estimated costs to sell (Level 3). | ||||||||||||||||||||
Mortgage, Commercial and Consumer Servicing Rights - The fair value of mortgage, commercial and consumer servicing rights are estimated using net present value of expected cash flows using a third party model that incorporates assumptions used in the industry to value such rights, adjusted for factors such as weighted average prepayments speeds based on historical information, where appropriate (Level 3). | ||||||||||||||||||||
The following tables present securities available-for-sale measured at fair value on a recurring basis: | ||||||||||||||||||||
Securities Available-for-Sale | ||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||
30-Sep-13 | ||||||||||||||||||||
Federal agency securities | $ | — | $ | 9,374 | $ | — | $ | 9,374 | ||||||||||||
Municipal bonds | — | 10,450 | — | 10,450 | ||||||||||||||||
Corporate securities | — | 3,463 | — | 3,463 | ||||||||||||||||
Mortgage-backed securities | — | 23,844 | — | 23,844 | ||||||||||||||||
Total | $ | — | $ | 47,131 | $ | — | $ | 47,131 | ||||||||||||
Securities Available-for-Sale | ||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||
31-Dec-12 | ||||||||||||||||||||
Federal agency securities | $ | — | $ | 12,552 | $ | — | $ | 12,552 | ||||||||||||
Municipal bonds | — | 9,060 | — | 9,060 | ||||||||||||||||
Corporate securities | — | 2,488 | — | 2,488 | ||||||||||||||||
Mortgage-backed securities | — | 19,213 | — | 19,213 | ||||||||||||||||
Total | $ | — | $ | 43,313 | $ | — | $ | 43,313 | ||||||||||||
NOTE 12 – FAIR VALUE OF FINANCIAL INSTRUMENTS (Continued) | ||||||||||||||||||||
The following tables present the fair value of interest rate lock commitments with customers, forward sale commitments with investors and paired off commitments with investors measured at their fair value on a recurring basis at September 30, 2013 and December 31, 2012. | ||||||||||||||||||||
Interest Rate Lock Commitments with Customers | ||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||
30-Sep-13 | $ | — | $ | — | $ | 642 | $ | 642 | ||||||||||||
$ | — | $ | — | $ | 45 | $ | 45 | |||||||||||||
31-Dec-12 | ||||||||||||||||||||
Forward Sale Commitments with Investors | ||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||
30-Sep-13 | $ | — | $ | (398 | ) | $ | (53 | ) | $ | (451 | ) | |||||||||
$ | — | $ | — | $ | 48 | $ | 48 | |||||||||||||
31-Dec-12 | ||||||||||||||||||||
Paired Off Commitments with Investors | ||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||
30-Sep-13 | $ | — | $ | 13 | $ | — | $ | 13 | ||||||||||||
$ | — | $ | — | $ | — | $ | — | |||||||||||||
31-Dec-12 | ||||||||||||||||||||
The following table presents the impaired loans measured at fair value on a nonrecurring basis and the total valuation allowance or charge-offs on these loans, which represents fair value adjustments for the nine months ended September 30, 2013 and the year ended December 31, 2012. | ||||||||||||||||||||
Impaired Loans | ||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | Total | ||||||||||||||||
Impairment | ||||||||||||||||||||
30-Sep-13 | $ | — | $ | — | $ | 3,509 | $ | 3,509 | $ | (331 | ) | |||||||||
$ | — | $ | — | $ | 3,800 | $ | 3,800 | $ | (125 | ) | ||||||||||
31-Dec-12 | ||||||||||||||||||||
NOTE 12 – FAIR VALUE OF FINANCIAL INSTRUMENTS (Continued) | ||||||||||||||||||||
The following table presents OREO measured at fair value on a nonrecurring basis at September 30, 2013 and December 31, 2012, and the total losses on these assets, which represents fair value adjustments and other losses for the nine months ended September 30, 2013 and the year ended December 31, 2012. | ||||||||||||||||||||
OREO | ||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | Total | ||||||||||||||||
Impairment | ||||||||||||||||||||
30-Sep-13 | $ | — | $ | — | $ | 2,259 | $ | 2,259 | $ | (347 | ) | |||||||||
$ | — | $ | — | $ | 2,127 | $ | 2,127 | $ | (812 | ) | ||||||||||
31-Dec-12 | ||||||||||||||||||||
The following table presents mortgage, commercial and consumer servicing rights measured at carrying value on a nonrecurring basis at September 30, 2013 and December 31, 2012, and the total (recoveries)/losses on these assets, which represents fair value adjustments and other (recoveries)/losses for the nine months ended September 30, 2013 and the year ended December 31, 2012. | ||||||||||||||||||||
Mortgage, Commercial and Consumer Servicing Rights | ||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | Total | ||||||||||||||||
Impairment/ (Recovery) | ||||||||||||||||||||
$ | — | $ | — | $ | 2,027 | $ | 2,027 | $ | (102 | ) | ||||||||||
30-Sep-13 | ||||||||||||||||||||
$ | — | $ | — | $ | 1,064 | $ | 1,064 | $ | 112 | |||||||||||
31-Dec-12 | ||||||||||||||||||||
NOTE 12 – FAIR VALUE OF FINANCIAL INSTRUMENTS (Continued) | ||||||||||||||||||||
Quantitative Information about Level 3 Fair Value Measurements – The fair value of financial instruments measured under a Level 3 unobservable input on a recurring and nonrecurring basis at September 30, 2013 is shown in the following table. | ||||||||||||||||||||
Level 3 Fair Value Instrument | Valuation Technique | Significant Unobservable Inputs | Range | Weighted Average Rate | ||||||||||||||||
(Weighted Average) | ||||||||||||||||||||
RECURRING | ||||||||||||||||||||
Interest rate lock commitments with customers | Quoted market prices | Pull-through expectations | 80% - 99% | 90.00% | ||||||||||||||||
Forward sale commitments with investors | Quoted market prices | Pull-through expectations | 80% - 99% | 90.00% | ||||||||||||||||
NONRECURRING | ||||||||||||||||||||
Impaired loans | Fair value of underlying collateral | Discount applied to the obtained appraisal | 0% - 10% | 9.50% | ||||||||||||||||
OREO | Fair value of collateral | Discount applied to the obtained appraisal | 9% - 19% | 14.90% | ||||||||||||||||
Mortgage, commercial and consumer servicing rights | Discounted cash flow | Weighted average prepayment speed | 7.5% - 10.5% | 7.50% | ||||||||||||||||
Fair Values of Financial Instruments – The following methods and assumptions were used by the Company in estimating the fair values of financial instruments disclosed in these financial statements: | ||||||||||||||||||||
Cash, and Due from Banks and Interest-Bearing Deposits at Other Financial Institutions – The carrying amounts of cash and short-term instruments approximate their fair value (Level 1). | ||||||||||||||||||||
Loans Held for Sale - The fair value of loans held for sale reflects the value of commitments with investors (Level 2). | ||||||||||||||||||||
Federal Home Loan Bank Stock – The carrying value of FHLB stock approximates its fair value (Level 2). | ||||||||||||||||||||
Accrued Interest – The carrying amounts of accrued interest approximate their fair value (Level 2). | ||||||||||||||||||||
Loans Receivable, Net – For variable rate loans that re-price frequently and have no significant change in credit risk, fair values are based on carrying values. Fair values for fixed rate loans are estimated using discounted cash flow analyses, using interest rates currently being offered for loans with similar terms to borrowers or similar credit quality (Level 3). | ||||||||||||||||||||
Deposits – The fair value of deposits with no stated maturity date is included at the amount payable on demand. Fair values for fixed rate certificates of deposit are estimated using a discounted cash flow calculation on interest rates currently offered on similar certificates (Level 2). | ||||||||||||||||||||
Borrowings – The carrying amounts of advances maturing within 90 days approximate their fair values. The fair values of long-term advances are estimated using discounted cash flow analyses based on the Bank’s current incremental borrowing rates for similar types of borrowing arrangements (Level 2). | ||||||||||||||||||||
NOTE 12 – FAIR VALUE OF FINANCIAL INSTRUMENTS (Continued) | ||||||||||||||||||||
Off-Balance Sheet Instruments – The fair value of commitments to extend credit are estimated using the fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreement and the present creditworthiness of the customers. The majority of the Company’s off-balance sheet instruments consist of non-fee producing, variable-rate commitments, the Company has determined they do not have a distinguishable fair value. The fair value of loan lock commitments with customers and investors reflect an estimate of value based upon the interest rate lock date, the expected pull through percentage for the commitment, and the interest rate at year end (Level 3). | ||||||||||||||||||||
NOTE 12 – FAIR VALUE OF FINANCIAL INSTRUMENTS (Continued) | ||||||||||||||||||||
The estimated fair values of the Company’s financial instruments were as follows: | ||||||||||||||||||||
September 30, | December 31, | |||||||||||||||||||
2013 | 2012 | |||||||||||||||||||
Carrying | Fair | Carrying | Fair | |||||||||||||||||
Amount | Value | Amount | Value | |||||||||||||||||
Financial Assets | ||||||||||||||||||||
Level 1 inputs: | ||||||||||||||||||||
Cash, due from banks, and interest-bearing deposits at other | $ | 27,340 | $ | 27,340 | $ | 9,413 | $ | 9,413 | ||||||||||||
financial institutions | ||||||||||||||||||||
Level 2 inputs: | ||||||||||||||||||||
Securities available-for-sale | 47,131 | 47,131 | 43,313 | 43,313 | ||||||||||||||||
Loans held for sale | 8,389 | 8,389 | 8,870 | 8,870 | ||||||||||||||||
FHLB stock | 1,717 | 1,717 | 1,765 | 1,765 | ||||||||||||||||
Accrued interest receivable | 1,333 | 1,333 | 1,223 | 1,223 | ||||||||||||||||
Forward sale commitments with investors | — | — | — | — | ||||||||||||||||
Paired off commitments with investors | 13 | 13 | — | — | ||||||||||||||||
Level 3 inputs: | ||||||||||||||||||||
Loans receivable, net | 283,794 | 311,705 | 274,949 | 306,695 | ||||||||||||||||
Mortgage, commercial and consumer servicing rights | 2,027 | 2,297 | 1,064 | 1,064 | ||||||||||||||||
Fair value interest rate locks with customers | 642 | 642 | 79 | 79 | ||||||||||||||||
Forward sale commitments with investors | — | — | 54 | 54 | ||||||||||||||||
Financial Liabilities | ||||||||||||||||||||
Level 2 inputs: | ||||||||||||||||||||
Deposits | 316,868 | 330,964 | 288,949 | 304,257 | ||||||||||||||||
Borrowings | 13,664 | 13,614 | 6,840 | 7,059 | ||||||||||||||||
Accrued interest payable | 18 | 18 | 12 | 12 | ||||||||||||||||
Forward sale commitments with investors | 398 | 398 | — | — | ||||||||||||||||
Level 3 inputs: | ||||||||||||||||||||
Fair value interest rate locks with customers | — | — | 34 | 34 | ||||||||||||||||
Forward sale commitments with investors | 53 | 53 | 6 | 6 | ||||||||||||||||
Employee_Benefits
Employee Benefits | 9 Months Ended | |||
Sep. 30, 2013 | ||||
Compensation and Retirement Disclosure [Abstract] | ' | |||
Employee Benefit Plans | ' | |||
EMPLOYEE BENEFITS | ||||
Employee Stock Ownership Plan | ||||
On January 1, 2012, the Company established an ESOP for eligible employees of the Company and the Bank. Employees of the Company and the Bank who have been credited with at least 1,000 hours of service during a 12-month period are eligible to participate in the ESOP. | ||||
The ESOP borrowed $2.6 million from FS Bancorp, Inc. and used those funds to acquire 259,210 shares of FS Bancorp, Inc. common stock in the open market at an average price of $10.17 per share. It is anticipated that the Bank will make | ||||
NOTE 13 - EMPLOYEE BENEFITS (Continued) | ||||
contributions to the ESOP in amounts necessary to amortize the ESOP loan payable to FS Bancorp, Inc. over a period of 10 years, bearing interest at 2.30%. Intercompany expenses associated with the ESOP are eliminated in consolidation. | ||||
Shares purchased by the ESOP with the loan proceeds are held in a suspense account and allocated to ESOP participants on a pro rata basis as principal and interest payments are made by the ESOP to FS Bancorp, Inc. The loan is secured by shares purchased with the loan proceeds and will be repaid by the ESOP with funds from the Bank's discretionary | ||||
contributions to the ESOP and earnings on the ESOP assets. Payments of principal and interest are due annually on December 31, the Company's fiscal year end. On December 31, 2012, the ESOP paid the first annual installment of principal in the amount of $267,000, plus accrued interest of $28,000 pursuant to the ESOP loan. No payment of principal or interest was made during the nine months ended September 30, 2013. | ||||
As shares are committed to be released from collateral, the Company reports compensation expense equal to the average daily market prices of the shares and the shares become outstanding for EPS computations. The compensation expense is accrued monthly throughout the year. Dividends on allocated ESOP shares are recorded as a reduction of retained earnings; dividends on unallocated ESOP shares are recorded as a reduction of debt and accrued interest. | ||||
Compensation expense related to the ESOP for the nine months ended September 30, 2013 and September 30, 2012 was $333,000 and $83,000, respectively. | ||||
Shares held by the ESOP as of September 30, 2013 were as follows: | ||||
Balances | ||||
Allocated shares | 25,921 | |||
Committed to be released shares | 19,441 | |||
Unallocated shares | 213,848 | |||
Total ESOP shares | 259,210 | |||
Fair value of unallocated shares (in thousands) | $ | 3,661 | ||
Earnings_Per_Share
Earnings Per Share | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||||||
Earnings Per Share | ' | |||||||||||||||
NOTE 14 - EARNINGS PER SHARE | ||||||||||||||||
Basic earnings per share are computed by dividing income available to common stockholders by the weighted average number of common shares outstanding for the period. Diluted earnings per share reflect the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the earnings of the entity. | ||||||||||||||||
The following table presents a reconciliation of the components used to compute basic and diluted earnings per share for the three and nine months ended September 30, 2013 and 2012. | ||||||||||||||||
At or For the Three Months Ended | At or For the Nine Months Ended | |||||||||||||||
September 30, | September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Numerator: | ||||||||||||||||
Net Income (in thousands) | $ | 1,062 | $ | 3,325 | $ | 3,383 | $ | 4,223 | ||||||||
Denominator: | ||||||||||||||||
Denominator for basic earnings per share- weighted average common shares outstanding | 3,026,277 | 3,240,125 | 3,026,277 | n/a(1) | ||||||||||||
Denominator for diluted earnings per share- weighted average common shares outstanding | 3,026,277 | 3,240,125 | 3,026,277 | n/a(1) | ||||||||||||
Basic earnings per share | $ | 0.35 | $ | 1.03 | $ | 1.12 | n/a(1) | |||||||||
Diluted earnings per share | $ | 0.35 | $ | 1.03 | $ | 1.12 | n/a(1) | |||||||||
(1) Earnings per share and share calculations are not available (n/a) as the Company completed its stock conversion and became a public company on July 9, 2012. | ||||||||||||||||
The Company purchased 259,210 shares in the open market during the year ended December 31, 2012, for the ESOP. For earnings per share calculations, the ESOP shares, committed to be released shares are included as outstanding shares. There were 213,848 shares in the ESOP that were not committed to be released as of September 30, 2013. | ||||||||||||||||
On September 18, 2013, the shareholders of FS Bancorp, Inc. approved an equity plan that authorizes up to 4% of outstanding shares (129,605) to be issued in restricted stock awards and up to 10% of outstanding shares (324,013) to be granted in stock options. As of September 30, 2013, none of the restricted stock or stock option grants have been issued. |
Basis_of_Presentation_and_Summ1
Basis of Presentation and Summary of Significant Accounting Policies (Policies) | 9 Months Ended | |
Sep. 30, 2013 | ||
Accounting Policies [Abstract] | ' | |
Financial Statement Presentation | ' | |
Financial Statement Presentation – The accompanying unaudited consolidated interim financial statements do not contain all necessary disclosures required by Generally Accepted Accounting Principles in the United States of America (“U.S. GAAP”) for complete financial statements and, therefore, should be read in conjunction with the audited consolidated financial statements and the notes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2012 filed with the Securities and Exchange Commission ("SEC") on April 1, 2013. These unaudited financial statements include all normal and recurring adjustments that management believes are necessary in order to conform to U.S. GAAP and have been reflected as required by Article 10 of Regulation S-X as promulgated by the SEC. The results for the three and nine months ended September 30, 2013 are not necessarily indicative of the results that may be expected for the year ending December 31, 2013 or any other future period. Amounts presented in the financial statements and footnote tables are rounded and presented in thousands of dollars. In the narrative footnote discussion amounts are rounded and presented in millions of dollars to one decimal point if the amounts are above $1.0 million. Amounts below $1.0 million are rounded and presented in dollars to the nearest thousands. Certain prior year amounts have been reclassified to conform to the 2013 presentation with no change to net income or stockholders' equity previously reported. | ||
Use of Estimates | ' | |
Use of Estimates – The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect amounts reported in the financial statements. Actual results could differ from these estimates. Material estimates that are particularly susceptible to change in the near term are allowances for loan losses, fair value of measurements, and the estimated realizability related to the deferred tax asset. | ||
Consolidation, Policy [Policy Text Block] | ' | |
Principles of Consolidation – The consolidated financial statements include the accounts of FS Bancorp, Inc. and its wholly owned subsidiary, 1st Security Bank of Washington. All material intercompany accounts have been eliminated in consolidation. | ||
Recent Accounting Pronouncements | ' | |
RECENT ACCOUNTING PRONOUNCEMENTS | ||
In July 2013, the FASB issued Accounting Standards Update No. 2013-11, Presentation of Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists (Topic 740). ASU No. 2013-11 requires an entity to present an unrecognized tax benefit, or a portion of an unrecognized tax benefit, as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward, except to the extent a net operating loss carryforward, a similar tax loss, or a tax credit carryforward is not available at the reporting date under the tax law of the applicable jurisdiction to settle any additional income taxes that would result from the disallowance of a tax position or the tax law of the applicable jurisdiction does not require the entity to use, and the entity does not intend to use, the deferred tax asset for such purpose, the unrecognized tax benefit should be presented in the financial statements as a liability and should not be combined with deferred tax assets. No new recurring disclosures are required. The amendments are effective for annual and interim reporting periods beginning on or after December 15, 2013 and are to be applied prospectively to all unrecognized tax benefits that exist at the effective date. Retrospective application is permitted. The adoption of ASU No. 2013-11 is not expected to have a material impact on the Company's consolidated financial statements. | ||
Securities available for sale | ' | |
There were twenty-six investments with unrealized losses of less than one year as of September 30, 2013. There were nine investments with unrealized losses of less than one year as of December 31, 2012. The unrealized losses associated with these investments are believed to be caused by changing market conditions that are considered to be temporary and the Company has the intent and ability to hold these securities until recovery, and is not likely to be required to sell these securities. | ||
Loan portfolio segment policy | ' | |
The Company has defined its loan portfolio into three segments that reflect the structure of the lending function, the Company’s strategic plan and the manner in which management monitors performance and credit quality. The three loan portfolio segments are: (a) Real Estate Loans, (b) Consumer Loans and (c) Commercial Business Loans. Each of these segments is disaggregated into classes based on the risk characteristics of the borrower and/or the collateral type securing the loan. The following is a summary of each of the Company’s loan portfolio segments and classes: | ||
Real Estate Loans | ||
Commercial Lending. Loans originated by the Company primarily secured by income producing properties, including retail centers, warehouses and office buildings located in our Puget Sound market area. | ||
Construction and Development Lending. Loans originated by the Company for the construction of and secured by commercial real estate and one-to-four-family residences and tracts of land for development, primarily in our Puget Sound market area. | ||
Home Equity Lending. Loans originated by the Company secured by second mortgages on one-to-four-family residences, primarily in our Puget Sound market area. | ||
NOTE 3 - LOANS RECEIVABLE AND ALLOWANCE FOR LOAN LOSSES (Continued) | ||
One-to-Four-Family Real Estate Lending. Loans originated by the Company secured by first mortgages on one-to-four-family residences, primarily in our Puget Sound market area. | ||
Multi-family Lending. Apartment lending (more than four units) to current banking customers and community reinvestment loans for low to moderate income individuals in our Puget Sound market area. | ||
Consumer Lending | ||
Indirect Home Improvement. Fixture secured loans are originated by the Company for home improvement and are secured by the personal property installed in, on or at the borrower’s real property, and may be perfected with a UCC-2 financing statement filed in the county of the borrower’s residence. The Company originates indirect home improvement loans throughout the states of Washington, Oregon and California. | ||
Marine, Automobile and Recreational. Loans originated by the Company secured by boats, automobiles and RVs to borrowers in our Puget Sound market area. | ||
Other Consumer and Home Improvement Loans. Loans originated by the Company, including direct home improvement loans, loans on deposits and other consumer loans to borrowers in the Puget Sound market area. | ||
Commercial Business Loans | ||
Commercial Business Lending. Commercial business loans originated by the Company to local small and mid-sized businesses in the Puget Sound market area are secured by accounts receivable, inventory or personal property, plant and equipment. Commercial business loans are made on the basis of the borrower’s ability to make repayment from the cash flow of the borrower’s business. | ||
Credit Quality Indicators | ' | |
Credit Quality Indicators | ||
As part of the Company’s on-going monitoring of credit quality of the loan portfolio, management tracks certain credit quality indicators including trends related to (i) the risk grading of loans, (ii) the level of classified loans, (iii) net charge-offs, (iv) non-performing loans and (v) the general economic conditions in the Company’s market. | ||
The Company utilizes a risk grading matrix to assign a risk grade to its real estate and commercial business loans. Loans are graded on a scale of 1 to 10, with loans in risk grades 1 to 6 considered “Pass” and loans in risk grades 7 to 10 are reported as classified loans in the Company's allowance for loan loss analysis. | ||
A description of the 10 risk grades is as follows: | ||
• | Grades 1 and 2 – These grades include loans to very high quality borrowers with excellent or desirable business credit. | |
• | Grade 3 – This grade includes loans to borrowers of good business credit with moderate risk. | |
• | Grades 4 and 5 – These grades include “Pass” grade loans to borrowers of average credit quality and risk. | |
• | Grade 6 – This grade includes loans on management’s “Watch” list and is intended to be utilized on a temporary basis for “Pass” grade borrowers where frequent and thorough monitoring is required due to credit weaknesses and where significant risk-modifying action is anticipated in the near term. | |
• | Grade 7 – This grade is for “Other Assets Especially Mentioned (OAEM)” in accordance with regulatory guidelines and includes borrowers where performance is poor or significantly less than expected. | |
• | Grade 8 – This grade includes “Substandard” loans in accordance with regulatory guidelines which represent an unacceptable business credit where a loss is possible if loan weakness is not corrected. | |
• | Grade 9 – This grade includes “Doubtful” loans in accordance with regulatory guidelines where a loss is highly probable. | |
• | Grade 10 – This grade includes “Loss” loans in accordance with regulatory guidelines for which total loss is expected and when identified are charged off. | |
Consumer, Home Equity and One-to-Four-Family Real Estate Loans | ||
Homogeneous loans are risk rated based upon the FDIC's Uniform Retail Credit Classification and Account Management Policy. Loans classified under this policy at the Company are consumer loans which include indirect home improvement, recreational, automobile, direct home improvement and other, and one-to-four-family first and second liens. Under the Uniform Retail Credit Classification Policy, loans that are current or less than 90 days past due are graded “Pass” and risk graded "4" internally. Loans that are past due more than 90 days are classified “Substandard” and risk graded "8" internally. At 120 days past due, homogeneous loans are charged off based on the value of the collateral less cost to sell. | ||
Loan Commitments, Policy | ' | |
The Company is party to financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit. These instruments involve, to varying degrees, elements of credit risk in excess of the amount recognized on the balance sheet. | ||
The Company's exposure to credit loss in the event of nonperformance by the other party to the financial instrument for commitments to extend credit is represented by the contractual amount of those instruments. The Company uses the same credit policies in making commitments and conditional obligations as it does for on-balance sheet instruments. | ||
Commitments and Contingencies | ' | |
Because of the nature of our activities, the Company is subject to various pending and threatened legal actions, which arise in the ordinary course of business. From time to time, subordination liens may create litigation which requires us to defend our lien rights. In the opinion of management, liabilities arising from these claims, if any, will not have a material effect on our financial position. | ||
Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Since many of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. The Company evaluates each customer’s creditworthiness on a case-by-case basis. The amount of collateral obtained, if deemed necessary by the Company upon extension of credit, is based on management’s credit evaluation of the party. Collateral held varies, but may include | ||
NOTE 9 – COMMITMENTS AND CONTINGENCIES (Continued) | ||
accounts receivable, inventory, property and equipment, residential real estate, and income-producing commercial properties. | ||
Unfunded commitments under commercial lines-of-credit, revolving credit lines and overdraft protection agreements are commitments for possible future extensions of credit to existing customers. These lines-of-credit are uncollateralized and usually do not contain a specified maturity date and ultimately may not be drawn upon to the total extent to which the Company is committed. |
Employee_Benefits_Employee_Ben
Employee Benefits Employee Benefits (Policies) | 9 Months Ended |
Sep. 30, 2013 | |
Accounting Policies [Abstract] | ' |
Employee Stock Ownership Plan (ESOP), Policy [Policy Text Block] | ' |
Employees of the Company and the Bank who have been credited with at least 1,000 hours of service during a 12-month period are eligible to participate in the ESOP. |
Securities_Availableforsale_Ta
Securities Available-for-sale (Tables) | 9 Months Ended | |||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ' | |||||||||||||||||||||||
Schedule of Available-for-sale Securities Reconciliation | ' | |||||||||||||||||||||||
The carrying amount of securities available-for-sale and their approximate fair values at September 30, 2013 and December 31, 2012 were as follows: | ||||||||||||||||||||||||
30-Sep-13 | ||||||||||||||||||||||||
Amortized | Gross | Gross | Gross | Estimated | ||||||||||||||||||||
Cost | Unrealized | Unrealized | Unrealized | Fair | ||||||||||||||||||||
Gains | Losses (less | Losses (more | Values | |||||||||||||||||||||
than 1 year) | than 1 year) | |||||||||||||||||||||||
Securities available-for-sale | ||||||||||||||||||||||||
Federal agency securities | $ | 9,796 | $ | 33 | $ | (455 | ) | $ | — | $ | 9,374 | |||||||||||||
Municipal bonds | 10,428 | 176 | (154 | ) | — | 10,450 | ||||||||||||||||||
Corporate securities | 3,503 | 4 | (44 | ) | — | 3,463 | ||||||||||||||||||
Mortgage-backed securities | 24,133 | 107 | (396 | ) | — | 23,844 | ||||||||||||||||||
Total securities available-for-sale | $ | 47,860 | $ | 320 | $ | (1,049 | ) | $ | — | $ | 47,131 | |||||||||||||
31-Dec-12 | ||||||||||||||||||||||||
Amortized | Gross | Gross | Gross | Estimated | ||||||||||||||||||||
Cost | Unrealized | Unrealized | Unrealized | Fair | ||||||||||||||||||||
Gains | Losses (less | Losses (more | Values | |||||||||||||||||||||
than 1 year) | than 1 year) | |||||||||||||||||||||||
Securities available-for-sale | ||||||||||||||||||||||||
Federal agency securities | $ | 12,287 | $ | 281 | $ | (16 | ) | $ | — | $ | 12,552 | |||||||||||||
Municipal bonds | 8,863 | 202 | (5 | ) | — | 9,060 | ||||||||||||||||||
Corporate securities | 2,492 | — | (4 | ) | — | 2,488 | ||||||||||||||||||
Mortgage-backed securities | 18,766 | 447 | — | — | 19,213 | |||||||||||||||||||
Total securities available-for-sale | $ | 42,408 | $ | 930 | $ | (25 | ) | $ | — | $ | 43,313 | |||||||||||||
Schedule of Available for Sale Securities by Contractual Mataurity | ' | |||||||||||||||||||||||
The contractual maturities of securities available-for-sale at September 30, 2013 were as follows: | ||||||||||||||||||||||||
September 30, | ||||||||||||||||||||||||
2013 | ||||||||||||||||||||||||
Amortized | Fair | |||||||||||||||||||||||
Cost | Value | |||||||||||||||||||||||
No contractual maturity | $ | — | $ | — | ||||||||||||||||||||
Due in one year or less | 2,282 | 2,302 | ||||||||||||||||||||||
Due after one year through five years | 3,597 | 3,643 | ||||||||||||||||||||||
Due after five years through ten years | 15,758 | 15,290 | ||||||||||||||||||||||
Due after ten years | 26,223 | 25,896 | ||||||||||||||||||||||
Total | $ | 47,860 | $ | 47,131 | ||||||||||||||||||||
Schedule of Proceeds and Realized Gain (Loss) | ' | |||||||||||||||||||||||
The proceeds and resulting gains, computed using specific identification, from sales of securities available-for-sale were as follows for the periods ended: | ||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||||||||||
30-Sep-13 | 30-Sep-13 | |||||||||||||||||||||||
Proceeds | Gross Gains | Gross Losses | Proceeds | Gross Gains | Gross Losses | |||||||||||||||||||
Securities available-for-sale | $ | — | $ | — | $ | — | $ | 8,786 | $ | 264 | $ | — | ||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||||||||||
30-Sep-12 | 30-Sep-12 | |||||||||||||||||||||||
Proceeds | Gross Gains | Gross Losses | Proceeds | Gross Gains | Gross Losses | |||||||||||||||||||
Securities available-for-sale | $ | — | $ | — | $ | — | $ | 2,432 | $ | 106 | $ | — | ||||||||||||
Loans_Receivable_and_Allowance1
Loans Receivable and Allowance For Loan Losses (Tables) | 9 Months Ended | |||||||||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||||||||
Receivables [Abstract] | ' | |||||||||||||||||||||||||||||
Allowance for Credit Losses on Financing Receivablles | ' | |||||||||||||||||||||||||||||
The following table details activity in the allowance for loan losses by loan categories: | ||||||||||||||||||||||||||||||
At or For the Three Months Ended September 30, 2013 | ||||||||||||||||||||||||||||||
ALLOWANCE FOR LOAN LOSSES | Real Estate | Consumer | Commercial | Unallocated | Total | |||||||||||||||||||||||||
Business | ||||||||||||||||||||||||||||||
Beginning balance | $ | 2,495 | $ | 1,736 | $ | 580 | $ | 465 | $ | 5,276 | ||||||||||||||||||||
Provision for loan losses | 280 | 64 | (195 | ) | 371 | 520 | ||||||||||||||||||||||||
Charge-offs | (275 | ) | (375 | ) | — | — | (650 | ) | ||||||||||||||||||||||
Recoveries | — | 154 | 10 | — | 164 | |||||||||||||||||||||||||
Net charge-offs | (275 | ) | (221 | ) | 10 | — | (486 | ) | ||||||||||||||||||||||
Ending balance | $ | 2,500 | $ | 1,579 | $ | 395 | $ | 836 | $ | 5,310 | ||||||||||||||||||||
Period end amount allocated to: | ||||||||||||||||||||||||||||||
Loans individually evaluated for impairment | $ | 303 | $ | — | $ | 28 | $ | — | $ | 331 | ||||||||||||||||||||
Loans collectively evaluated for impairment | 2,197 | 1,579 | 367 | 836 | 4,979 | |||||||||||||||||||||||||
Ending balance | $ | 2,500 | $ | 1,579 | $ | 395 | $ | 836 | $ | 5,310 | ||||||||||||||||||||
LOANS RECEIVABLE | ||||||||||||||||||||||||||||||
Loans individually evaluated for impairment | $ | 3,337 | $ | — | $ | 172 | $ | — | $ | 3,509 | ||||||||||||||||||||
Loans collectively evaluated for impairment | 116,908 | 124,080 | 44,947 | — | 285,935 | |||||||||||||||||||||||||
Ending balance | $ | 120,245 | $ | 124,080 | $ | 45,119 | $ | — | $ | 289,444 | ||||||||||||||||||||
At or For the Nine Months Ended September 30, 2013 | ||||||||||||||||||||||||||||||
ALLOWANCE FOR LOAN LOSSES | Real Estate | Consumer | Commercial | Unallocated | Total | |||||||||||||||||||||||||
Business | ||||||||||||||||||||||||||||||
Beginning balance | $ | 1,690 | $ | 2,158 | $ | 815 | $ | 35 | $ | 4,698 | ||||||||||||||||||||
Provision for loan losses | 1,252 | 55 | (388 | ) | 801 | 1,720 | ||||||||||||||||||||||||
Charge-offs | (477 | ) | (1,233 | ) | (44 | ) | — | (1,754 | ) | |||||||||||||||||||||
Recoveries | 35 | 599 | 12 | — | 646 | |||||||||||||||||||||||||
Net charge-offs | (442 | ) | (634 | ) | (32 | ) | — | (1,108 | ) | |||||||||||||||||||||
Ending balance | $ | 2,500 | $ | 1,579 | $ | 395 | $ | 836 | $ | 5,310 | ||||||||||||||||||||
Period end amount allocated to: | ||||||||||||||||||||||||||||||
Loans individually evaluated for impairment | $ | 303 | $ | — | $ | 28 | $ | — | $ | 331 | ||||||||||||||||||||
Loans collectively evaluated for impairment | 2,197 | 1,579 | 367 | 836 | 4,979 | |||||||||||||||||||||||||
Ending balance | $ | 2,500 | $ | 1,579 | $ | 395 | $ | 836 | $ | 5,310 | ||||||||||||||||||||
LOANS RECEIVABLE | ||||||||||||||||||||||||||||||
Loans individually evaluated for impairment | $ | 3,337 | $ | — | $ | 172 | $ | — | $ | 3,509 | ||||||||||||||||||||
Loans collectively evaluated for impairment | 116,908 | 124,080 | 44,947 | — | 285,935 | |||||||||||||||||||||||||
Ending balance | $ | 120,245 | $ | 124,080 | $ | 45,119 | $ | — | $ | 289,444 | ||||||||||||||||||||
NOTE 3 - LOANS RECEIVABLE AND ALLOWANCE FOR LOAN LOSSES (Continued) | ||||||||||||||||||||||||||||||
At or For the Three Months Ended September 30, 2012 | ||||||||||||||||||||||||||||||
ALLOWANCE FOR LOAN LOSSES | Real Estate | Consumer | Commercial | Unallocated | Total | |||||||||||||||||||||||||
Business | ||||||||||||||||||||||||||||||
Beginning balance | $ | 1,123 | $ | 2,178 | $ | 660 | $ | 371 | $ | 4,332 | ||||||||||||||||||||
Provision for loan losses | 634 | 384 | (36 | ) | (352 | ) | 630 | |||||||||||||||||||||||
Charge-offs | (226 | ) | (563 | ) | (11 | ) | — | (800 | ) | |||||||||||||||||||||
Recoveries | 1 | 196 | — | — | 197 | |||||||||||||||||||||||||
Net charge-offs | (225 | ) | (367 | ) | (11 | ) | — | (603 | ) | |||||||||||||||||||||
Ending balance | $ | 1,532 | $ | 2,195 | $ | 613 | $ | 19 | $ | 4,359 | ||||||||||||||||||||
Period end amount allocated to: | ||||||||||||||||||||||||||||||
Loans individually evaluated for impairment | $ | 167 | $ | — | $ | 28 | $ | — | $ | 195 | ||||||||||||||||||||
Loans collectively evaluated for impairment | 1,365 | 2,195 | 585 | 19 | 4,164 | |||||||||||||||||||||||||
Ending balance | $ | 1,532 | $ | 2,195 | $ | 613 | $ | 19 | $ | 4,359 | ||||||||||||||||||||
LOANS RECEIVABLE | ||||||||||||||||||||||||||||||
Loans individually evaluated for impairment | $ | 3,521 | $ | — | $ | 266 | $ | — | $ | 3,787 | ||||||||||||||||||||
Loans collectively evaluated for impairment | 80,168 | 118,166 | 61,222 | — | 259,556 | |||||||||||||||||||||||||
Ending balance | $ | 83,689 | $ | 118,166 | $ | 61,488 | $ | — | $ | 263,343 | ||||||||||||||||||||
At or For the Nine Months Ended September 30, 2012 | ||||||||||||||||||||||||||||||
ALLOWANCE FOR LOAN LOSSES | Real Estate | Consumer | Commercial | Unallocated | Total | |||||||||||||||||||||||||
Business | ||||||||||||||||||||||||||||||
Beginning balance | $ | 803 | $ | 2,846 | $ | 511 | $ | 185 | $ | 4,345 | ||||||||||||||||||||
Provision for loan losses | 1,215 | 434 | 212 | (166 | ) | 1,695 | ||||||||||||||||||||||||
Charge-offs | (490 | ) | (1,868 | ) | (110 | ) | — | (2,468 | ) | |||||||||||||||||||||
Recoveries | 4 | 783 | — | — | 787 | |||||||||||||||||||||||||
Net charge-offs | (486 | ) | (1,085 | ) | (110 | ) | — | (1,681 | ) | |||||||||||||||||||||
Ending balance | $ | 1,532 | $ | 2,195 | $ | 613 | $ | 19 | $ | 4,359 | ||||||||||||||||||||
Period end amount allocated to: | ||||||||||||||||||||||||||||||
Loans individually evaluated for impairment | $ | 167 | $ | — | $ | 28 | $ | — | $ | 195 | ||||||||||||||||||||
Loans collectively evaluated for impairment | 1,365 | 2,195 | 585 | 19 | 4,164 | |||||||||||||||||||||||||
Ending balance | $ | 1,532 | $ | 2,195 | $ | 613 | $ | 19 | $ | 4,359 | ||||||||||||||||||||
LOANS RECEIVABLE | ||||||||||||||||||||||||||||||
Loans individually evaluated for impairment | $ | 3,521 | $ | — | $ | 266 | $ | — | $ | 3,787 | ||||||||||||||||||||
Loans collectively evaluated for impairment | 80,168 | 118,166 | 61,222 | — | 259,556 | |||||||||||||||||||||||||
Ending balance | $ | 83,689 | $ | 118,166 | $ | 61,488 | $ | — | $ | 263,343 | ||||||||||||||||||||
The composition of the loan portfolio was as follows at September 30, 2013 and December 31, 2012: | ||||||||||||||||||||||||||||||
September 30, | December 31, | |||||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||||||
REAL ESTATE LOANS | ||||||||||||||||||||||||||||||
Commercial | $ | 37,327 | $ | 33,250 | ||||||||||||||||||||||||||
Construction and development | 43,088 | 31,893 | ||||||||||||||||||||||||||||
Home equity | 16,253 | 15,474 | ||||||||||||||||||||||||||||
One-to-four-family | 18,854 | 13,976 | ||||||||||||||||||||||||||||
Multi-family | 4,723 | 3,202 | ||||||||||||||||||||||||||||
Total real estate loans | 120,245 | 97,795 | ||||||||||||||||||||||||||||
CONSUMER LOANS | ||||||||||||||||||||||||||||||
Indirect home improvement | 99,838 | 86,249 | ||||||||||||||||||||||||||||
Marine | 20,631 | 17,226 | ||||||||||||||||||||||||||||
Automobile | 1,222 | 2,416 | ||||||||||||||||||||||||||||
Recreational | 584 | 742 | ||||||||||||||||||||||||||||
Home improvement | 495 | 651 | ||||||||||||||||||||||||||||
Other | 1,310 | 1,386 | ||||||||||||||||||||||||||||
Total consumer loans | 124,080 | 108,670 | ||||||||||||||||||||||||||||
COMMERCIAL BUSINESS LOANS | 45,119 | 73,465 | ||||||||||||||||||||||||||||
Total loans | 289,444 | 279,930 | ||||||||||||||||||||||||||||
Allowance for loan losses | (5,310 | ) | (4,698 | ) | ||||||||||||||||||||||||||
Deferred costs, fees, and discounts, net | (340 | ) | (283 | ) | ||||||||||||||||||||||||||
Total loans receivable, net | $ | 283,794 | $ | 274,949 | ||||||||||||||||||||||||||
Past Due Financing Receivables | ' | |||||||||||||||||||||||||||||
Information pertaining to aging analysis of past due loans are summarized as follows: | ||||||||||||||||||||||||||||||
30-Sep-13 | ||||||||||||||||||||||||||||||
Loans Past Due and Still Accruing | ||||||||||||||||||||||||||||||
30-59 Days | 60-89 Days | 90 Days or More Past Due | Total | Non-Accrual | Current | Total Loans | ||||||||||||||||||||||||
Past Due | Receivable | |||||||||||||||||||||||||||||
REAL ESTATE LOANS | ||||||||||||||||||||||||||||||
Commercial | $ | — | $ | — | $ | — | $ | — | $ | 611 | $ | 36,716 | $ | 37,327 | ||||||||||||||||
Construction and development | — | — | — | — | — | 43,088 | 43,088 | |||||||||||||||||||||||
Home equity | 389 | 249 | — | 638 | 114 | 15,501 | 16,253 | |||||||||||||||||||||||
One-to-four-family | 1,104 | — | — | 1,104 | 340 | 17,410 | 18,854 | |||||||||||||||||||||||
Multi-family | — | — | — | — | — | 4,723 | 4,723 | |||||||||||||||||||||||
Total real estate loans | 1,493 | 249 | — | 1,742 | 1,065 | 117,438 | 120,245 | |||||||||||||||||||||||
CONSUMER | ||||||||||||||||||||||||||||||
Indirect home improvement | 582 | 379 | — | 961 | 341 | 98,536 | 99,838 | |||||||||||||||||||||||
Marine | 66 | — | — | 66 | — | 20,565 | 20,631 | |||||||||||||||||||||||
Automobile | 36 | 1 | — | 37 | 2 | 1,183 | 1,222 | |||||||||||||||||||||||
Recreational | 4 | — | — | 4 | — | 580 | 584 | |||||||||||||||||||||||
Home improvement | 7 | — | — | 7 | — | 488 | 495 | |||||||||||||||||||||||
Other | 20 | — | — | 20 | — | 1,290 | 1,310 | |||||||||||||||||||||||
Total consumer loans | 715 | 380 | — | 1,095 | 343 | 122,642 | 124,080 | |||||||||||||||||||||||
COMMERCIAL | — | — | — | — | 116 | 45,003 | 45,119 | |||||||||||||||||||||||
BUSINESS LOANS | ||||||||||||||||||||||||||||||
Total | $ | 2,208 | $ | 629 | $ | — | $ | 2,837 | $ | 1,524 | $ | 285,083 | $ | 289,444 | ||||||||||||||||
NOTE 3 - LOANS RECEIVABLE AND ALLOWANCE FOR LOAN LOSSES (Continued) | ||||||||||||||||||||||||||||||
31-Dec-12 | ||||||||||||||||||||||||||||||
Loans Past Due and Still Accruing | ||||||||||||||||||||||||||||||
30-59 Days | 60-89 Days | 90 Days or More Past Due | Total | Non-Accrual | Current | Total Loans | ||||||||||||||||||||||||
Past Due | Receivable | |||||||||||||||||||||||||||||
REAL ESTATE LOANS | ||||||||||||||||||||||||||||||
Commercial | $ | — | $ | — | $ | — | — | $ | 783 | $ | 32,467 | 33,250 | ||||||||||||||||||
Construction and development | — | — | — | — | — | 31,893 | 31,893 | |||||||||||||||||||||||
Home equity | 192 | 484 | — | 676 | 248 | 14,550 | 15,474 | |||||||||||||||||||||||
One-to-four-family | — | — | — | — | 344 | 13,632 | 13,976 | |||||||||||||||||||||||
Multi-family | — | — | — | — | — | 3,202 | 3,202 | |||||||||||||||||||||||
Total real estate loans | 192 | 484 | — | 676 | 1,375 | 95,744 | 97,795 | |||||||||||||||||||||||
CONSUMER | ||||||||||||||||||||||||||||||
Indirect home improvement | 653 | 300 | — | 953 | 295 | 85,001 | 86,249 | |||||||||||||||||||||||
Marine | 84 | 2 | — | 86 | — | 17,140 | 17,226 | |||||||||||||||||||||||
Automobile | 68 | 1 | — | 69 | 10 | 2,337 | 2,416 | |||||||||||||||||||||||
Recreational | 44 | — | — | 44 | — | 698 | 742 | |||||||||||||||||||||||
Home improvement | — | — | — | — | 32 | 619 | 651 | |||||||||||||||||||||||
Other | 8 | 11 | — | 19 | — | 1,367 | 1,386 | |||||||||||||||||||||||
Total consumer loans | 857 | 314 | — | 1,171 | 337 | 107,162 | 108,670 | |||||||||||||||||||||||
COMMERCIAL | — | — | — | — | 194 | 73,271 | 73,465 | |||||||||||||||||||||||
BUSINESS LOANS | ||||||||||||||||||||||||||||||
Total | $ | 1,049 | $ | 798 | $ | — | $ | 1,847 | $ | 1,906 | $ | 276,177 | $ | 279,930 | ||||||||||||||||
Impaired Financing Receivables | ' | |||||||||||||||||||||||||||||
The following tables provide additional information about our impaired loans that have been segregated to reflect loans for which an allowance for credit losses has been provided and loans for which no allowance has been provided: | ||||||||||||||||||||||||||||||
At or For the Nine Months Ended September 30, 2013 | ||||||||||||||||||||||||||||||
Unpaid | Write- | Recorded | Specific | Adjusted | YTD | YTD | ||||||||||||||||||||||||
Principal | downs | Investment | Reserve | Recorded | Average | Interest | ||||||||||||||||||||||||
Balance | Investment | Recorded | Income | |||||||||||||||||||||||||||
Investment | Recognized | |||||||||||||||||||||||||||||
WITH NO RELATED ALLOWANCE RECORDED | ||||||||||||||||||||||||||||||
Commercial | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||
Construction and | — | — | — | — | — | — | — | |||||||||||||||||||||||
development | ||||||||||||||||||||||||||||||
Home equity | — | — | — | — | — | — | — | |||||||||||||||||||||||
One-to-four-family | 1,136 | (169 | ) | 967 | — | 967 | 956 | 45 | ||||||||||||||||||||||
Multi-family | — | — | — | — | — | — | — | |||||||||||||||||||||||
Indirect home | — | — | — | — | — | — | — | |||||||||||||||||||||||
improvement | ||||||||||||||||||||||||||||||
Marine | — | — | — | — | — | — | — | |||||||||||||||||||||||
Automobile | — | — | — | — | — | — | — | |||||||||||||||||||||||
Recreational | — | — | — | — | — | — | — | |||||||||||||||||||||||
Home improvement | — | — | — | — | — | — | — | |||||||||||||||||||||||
Other | — | — | — | — | — | — | — | |||||||||||||||||||||||
Commercial business | 166 | (72 | ) | 94 | — | 94 | 94 | — | ||||||||||||||||||||||
loans | ||||||||||||||||||||||||||||||
Subtotal loans | 1,302 | (241 | ) | 1,061 | — | 1,061 | 1,050 | 45 | ||||||||||||||||||||||
WITH AN ALLOWANCE RECORDED | ||||||||||||||||||||||||||||||
Commercial | 2,248 | (109 | ) | 2,139 | (244 | ) | 1,895 | 2,183 | 62 | |||||||||||||||||||||
Construction and | — | — | — | — | — | — | — | |||||||||||||||||||||||
development | ||||||||||||||||||||||||||||||
Home equity | 90 | — | 90 | (38 | ) | 52 | 90 | — | ||||||||||||||||||||||
One-to-four-family | 159 | (18 | ) | 141 | (21 | ) | 120 | 157 | — | |||||||||||||||||||||
Multi-family | — | — | — | — | — | — | — | |||||||||||||||||||||||
Indirect home | — | — | — | — | — | — | — | |||||||||||||||||||||||
improvement | ||||||||||||||||||||||||||||||
Marine | — | — | — | — | — | — | — | |||||||||||||||||||||||
Automobile | — | — | — | — | — | — | — | |||||||||||||||||||||||
Recreational | — | — | — | — | — | — | — | |||||||||||||||||||||||
Home improvement | — | — | — | — | — | — | — | |||||||||||||||||||||||
Other | — | — | — | — | — | — | — | |||||||||||||||||||||||
Commercial business | 81 | (3 | ) | 78 | (28 | ) | 50 | 68 | 1 | |||||||||||||||||||||
loans | ||||||||||||||||||||||||||||||
Subtotal loans | 2,578 | (130 | ) | 2,448 | (331 | ) | 2,117 | 2,498 | 63 | |||||||||||||||||||||
Total | $ | 3,880 | $ | (371 | ) | $ | 3,509 | $ | (331 | ) | $ | 3,178 | $ | 3,548 | $ | 108 | ||||||||||||||
NOTE 3 - LOANS RECEIVABLE AND ALLOWANCE FOR LOAN LOSSES (Continued) | ||||||||||||||||||||||||||||||
At or For the Year Ended December 31, 2012 | ||||||||||||||||||||||||||||||
Unpaid | Write- | Recorded | Specific | Adjusted | YTD | YTD | ||||||||||||||||||||||||
Principal | downs | Investment | Reserve | Recorded | Average | Interest | ||||||||||||||||||||||||
Balance | Investment | Recorded | Income | |||||||||||||||||||||||||||
Investment | Recognized | |||||||||||||||||||||||||||||
WITH NO RELATED ALLOWANCE RECORDED | ||||||||||||||||||||||||||||||
Commercial | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||
Construction and | — | — | — | — | — | — | — | |||||||||||||||||||||||
development | ||||||||||||||||||||||||||||||
Home equity | 111 | — | 111 | — | 111 | 112 | 3 | |||||||||||||||||||||||
One-to-four-family | 1,295 | (170 | ) | 1,125 | — | 1,125 | 1,172 | 30 | ||||||||||||||||||||||
Multi-family | — | — | — | — | — | — | — | |||||||||||||||||||||||
Indirect home | — | — | — | — | — | — | — | |||||||||||||||||||||||
improvement | ||||||||||||||||||||||||||||||
Marine | — | — | — | — | — | — | — | |||||||||||||||||||||||
Automobile | — | — | — | — | — | — | — | |||||||||||||||||||||||
Recreational | — | — | — | — | — | — | — | |||||||||||||||||||||||
Home improvement | — | — | — | — | — | — | — | |||||||||||||||||||||||
Other | — | — | — | — | — | — | — | |||||||||||||||||||||||
Commercial business | 241 | (111 | ) | 130 | — | 130 | 172 | — | ||||||||||||||||||||||
loans | ||||||||||||||||||||||||||||||
Subtotal loans | 1,647 | (281 | ) | 1,366 | — | 1,366 | 1,456 | 33 | ||||||||||||||||||||||
WITH AN ALLOWANCE RECORDED | ||||||||||||||||||||||||||||||
Commercial | 950 | (167 | ) | 783 | (39 | ) | 744 | 893 | 7 | |||||||||||||||||||||
Construction and | — | — | — | — | — | — | — | |||||||||||||||||||||||
development | ||||||||||||||||||||||||||||||
Home equity | 1,625 | (38 | ) | 1,587 | (79 | ) | 1,508 | 1,616 | 68 | |||||||||||||||||||||
One-to-four-family | — | — | — | — | — | — | — | |||||||||||||||||||||||
Multi-family | — | — | — | — | — | — | — | |||||||||||||||||||||||
Indirect home | — | — | — | — | — | — | — | |||||||||||||||||||||||
improvement | ||||||||||||||||||||||||||||||
Marine | — | — | — | — | — | — | — | |||||||||||||||||||||||
Automobile | — | — | — | — | — | — | — | |||||||||||||||||||||||
Recreational | — | — | — | — | — | — | — | |||||||||||||||||||||||
Home improvement | — | — | — | — | — | — | — | |||||||||||||||||||||||
Other | — | — | — | — | — | — | — | |||||||||||||||||||||||
Commercial business | 67 | (3 | ) | 64 | (7 | ) | 57 | 68 | 5 | |||||||||||||||||||||
loans | ||||||||||||||||||||||||||||||
Subtotal loans | 2,642 | (208 | ) | 2,434 | (125 | ) | 2,309 | 2,577 | 80 | |||||||||||||||||||||
Total | $ | 4,289 | $ | (489 | ) | $ | 3,800 | $ | (125 | ) | $ | 3,675 | $ | 4,033 | $ | 113 | ||||||||||||||
The average recorded investment in impaired loans was unchanged at $3.5 million and $3.8 million for the three and nine months ended September 30, 2013, and 2012, respectively. For the three and nine months ended September 30, 2013, the Company recognized interest income on impaired loans of $28,000 and $108,000, respectively, compared to $96,000 and $100,000, respectively, for same periods a year ago. | ||||||||||||||||||||||||||||||
Financing Receivable Credit Quality Indicators | ' | |||||||||||||||||||||||||||||
The following tables summarize risk rated loan balances by category: | ||||||||||||||||||||||||||||||
30-Sep-13 | ||||||||||||||||||||||||||||||
Pass (1 - 5) | Watch (6) | Special | Substandard (8) | Doubtful(9) | Loss (10) | Total | ||||||||||||||||||||||||
Mention (7) | ||||||||||||||||||||||||||||||
REAL ESTATE LOANS | ||||||||||||||||||||||||||||||
Commercial | $ | 35,187 | $ | — | $ | — | $ | 2,140 | $ | — | $ | — | $ | 37,327 | ||||||||||||||||
Construction and development | 43,088 | — | — | — | — | — | 43,088 | |||||||||||||||||||||||
Home equity | 16,139 | — | — | 114 | — | — | 16,253 | |||||||||||||||||||||||
One-to-four-family | 17,746 | — | — | 1,108 | — | — | 18,854 | |||||||||||||||||||||||
Multi-family | 4,723 | — | — | — | — | — | 4,723 | |||||||||||||||||||||||
Total real estate loans | 116,883 | — | — | 3,362 | — | — | 120,245 | |||||||||||||||||||||||
CONSUMER | ||||||||||||||||||||||||||||||
Indirect home improvement | 99,497 | — | — | 341 | — | — | 99,838 | |||||||||||||||||||||||
Marine | 20,631 | — | — | — | — | — | 20,631 | |||||||||||||||||||||||
Automobile | 1,220 | — | — | 2 | — | — | 1,222 | |||||||||||||||||||||||
Recreational | 584 | — | — | — | — | — | 584 | |||||||||||||||||||||||
Home improvement | 495 | — | — | — | — | — | 495 | |||||||||||||||||||||||
Other | 1,310 | — | — | — | — | — | 1,310 | |||||||||||||||||||||||
Total consumer loans | 123,737 | — | — | 343 | — | — | 124,080 | |||||||||||||||||||||||
COMMERCIAL BUSINESS LOANS | 44,157 | 790 | — | 150 | — | 22 | 45,119 | |||||||||||||||||||||||
Total | $ | 284,777 | $ | 790 | $ | — | $ | 3,855 | $ | — | $ | 22 | $ | 289,444 | ||||||||||||||||
31-Dec-12 | ||||||||||||||||||||||||||||||
Pass (1 - 5) | Watch (6) | Special | Substandard (8) | Doubtful(9) | Loss (10) | Total | ||||||||||||||||||||||||
Mention (7) | ||||||||||||||||||||||||||||||
REAL ESTATE LOANS | ||||||||||||||||||||||||||||||
Commercial | $ | 29,145 | $ | 3,322 | $ | — | $ | 783 | $ | — | $ | — | $ | 33,250 | ||||||||||||||||
Construction and development | 30,306 | — | — | 1,587 | — | — | 31,893 | |||||||||||||||||||||||
Home equity | 15,226 | — | — | 248 | — | — | 15,474 | |||||||||||||||||||||||
One-to-four-family | 12,851 | — | — | 1,125 | — | — | 13,976 | |||||||||||||||||||||||
Multi-family | 3,202 | — | — | — | — | — | 3,202 | |||||||||||||||||||||||
Total real estate loans | 90,730 | 3,322 | — | 3,743 | — | — | 97,795 | |||||||||||||||||||||||
CONSUMER | ||||||||||||||||||||||||||||||
Indirect home improvement | 85,954 | — | — | 295 | — | — | 86,249 | |||||||||||||||||||||||
Marine | 17,226 | — | — | — | — | — | 17,226 | |||||||||||||||||||||||
Automobile | 2,406 | — | — | 10 | — | — | 2,416 | |||||||||||||||||||||||
Recreational | 742 | — | — | — | — | — | 742 | |||||||||||||||||||||||
Home improvement | 619 | — | — | 32 | — | — | 651 | |||||||||||||||||||||||
Other | 1,386 | — | — | — | — | — | 1,386 | |||||||||||||||||||||||
Total consumer loans | 108,333 | — | — | 337 | — | — | 108,670 | |||||||||||||||||||||||
COMMERCIAL BUSINESS LOANS | 72,596 | — | 675 | 194 | — | — | 73,465 | |||||||||||||||||||||||
Total | $ | 271,659 | $ | 3,322 | $ | 675 | $ | 4,274 | $ | — | $ | — | $ | 279,930 | ||||||||||||||||
Troubled Debt Restructurings on Financing Receivables | ' | |||||||||||||||||||||||||||||
A summary of TDR loans at the dates indicated is as follows: | ||||||||||||||||||||||||||||||
September 30, | December 31, | |||||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||||||
Troubled debt restructured loans still on accrual | $ | 2,353 | $ | 2,368 | ||||||||||||||||||||||||||
44 | 892 | |||||||||||||||||||||||||||||
Troubled debt restructured loans on non-accrual | ||||||||||||||||||||||||||||||
$ | 2,397 | $ | 3,260 | |||||||||||||||||||||||||||
Total troubled debt restructured loans | ||||||||||||||||||||||||||||||
Schedule of Debtor Troubled Debt Restructuring | ' | |||||||||||||||||||||||||||||
At or For the Three Months Ended September 30, | ||||||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||||||
Number of | Recorded | Increase in | Charge-offs | Number of | Recorded | Increase in | Charge-offs | |||||||||||||||||||||||
Contracts | Investment | Allowance | to the | Contracts | Investment | Allowance | to the | |||||||||||||||||||||||
Allowance | Allowance | |||||||||||||||||||||||||||||
— | $ | — | $ | — | $ | — | — | $ | — | $ | — | $ | — | |||||||||||||||||
Total | — | $ | — | $ | — | $ | — | — | $ | — | $ | — | $ | — | ||||||||||||||||
At or For the Nine Months Ended September 30, | ||||||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||||||
Number of | Recorded | Increase in | Charge-offs | Number of | Recorded | Increase in | Charge-offs | |||||||||||||||||||||||
Contracts | Investment | the Allowance | to the | Contracts | Investment | Allowance | to the | |||||||||||||||||||||||
Allowance | Allowance | |||||||||||||||||||||||||||||
Commercial Business | 1 | $ | 35 | $ | — | $ | 35 | 1 | $ | 70 | $ | 7 | $ | 2 | ||||||||||||||||
Total | 1 | $ | 35 | $ | — | $ | 35 | 1 | $ | 70 | $ | 7 | $ | 2 | ||||||||||||||||
Servicing_Rights_Tables
Servicing Rights (Tables) | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Fair Value, Off-balance Sheet Risk [Abstract] | ' | |||||||
Schedule of Mortgage Servicing Rights | ' | |||||||
The following table summarizes mortgage, commercial and consumer servicing rights activity for the three and nine months ended September 30, 2013 and 2012: | ||||||||
At or For the Three Months Ended | ||||||||
September 30, | ||||||||
2013 | 2012 | |||||||
$ | 1,785 | $ | 425 | |||||
Beginning balance | ||||||||
Additions | 350 | 327 | ||||||
Mortgage, commercial and consumer servicing rights amortized | (110 | ) | (36 | ) | ||||
(Impairment) recovery of loss on servicing rights | 2 | (108 | ) | |||||
Ending balance | $ | 2,027 | $ | 608 | ||||
At or For the Nine Months Ended | ||||||||
September 30, | ||||||||
2013 | 2012 | |||||||
$ | 1,064 | $ | 200 | |||||
Beginning balance | ||||||||
Additions | 1,141 | 596 | ||||||
Mortgage, commercial and consumer servicing rights amortized | (280 | ) | (83 | ) | ||||
(Impairment) recovery of loss on servicing rights | 102 | (105 | ) | |||||
Ending balance | $ | 2,027 | $ | 608 | ||||
Other_Real_Estate_Owned_Tables
Other Real Estate Owned (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Banking and Thrift [Abstract] | ' | |||||||||||||||
Schedule of Other Real Estate Owned | ' | |||||||||||||||
The following table presents the activity related to OREO for the three and nine months ended September 30, 2013 and 2012: | ||||||||||||||||
For the Three Months Ended September 30, | For the Nine Months Ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Beginning balance | $ | 1,805 | $ | 2,950 | $ | 2,127 | $ | 4,589 | ||||||||
Additions | 605 | — | 642 | 921 | ||||||||||||
Fair value write-downs | (151 | ) | (99 | ) | (347 | ) | (693 | ) | ||||||||
Disposition of assets | — | (530 | ) | (163 | ) | (2,496 | ) | |||||||||
Ending balance | $ | 2,259 | $ | 2,321 | $ | 2,259 | $ | 2,321 | ||||||||
Deposits_Tables
Deposits (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Banking and Thrift [Abstract] | ' | |||||||||||||||
Schedule of Deposit Liabilities | ' | |||||||||||||||
September 30, | December 31, | |||||||||||||||
2013 | 2012 | |||||||||||||||
Interest-bearing checking | $ | 27,836 | $ | 24,348 | ||||||||||||
Noninterest-bearing checking | 42,579 | 34,165 | ||||||||||||||
Savings | 14,821 | 11,812 | ||||||||||||||
Money market | 115,652 | 114,246 | ||||||||||||||
Certificates of deposits of less than $100,000(1) | 42,893 | 40,119 | ||||||||||||||
Certificates of deposits of $100,000 through $250,000 | 48,722 | 43,810 | ||||||||||||||
Certificates of deposits of more than $250,000 | 24,365 | 20,449 | ||||||||||||||
Total | $ | 316,868 | $ | 288,949 | ||||||||||||
Schedule of Maturities of Time Deposits for Future Periods | ' | |||||||||||||||
Scheduled maturities of time deposits for future periods ending were as follows: | ||||||||||||||||
As of September 30, | ||||||||||||||||
2013 | ||||||||||||||||
2013 | $ | 15,605 | ||||||||||||||
2014 | 47,961 | |||||||||||||||
2015 | 34,953 | |||||||||||||||
2016 | 8,768 | |||||||||||||||
2017 | 5,007 | |||||||||||||||
Thereafter | 3,686 | |||||||||||||||
Total | $ | 115,980 | ||||||||||||||
Schedule of Interest Expense by Deposit Category | ' | |||||||||||||||
Interest expense by deposit category for the three and nine months ended September 30, 2013 and 2012 was as follows: | ||||||||||||||||
For Three Months Ended September 30, | For Nine Months Ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
$ | 9 | $ | 11 | $ | 25 | $ | 41 | |||||||||
Interest-bearing checking | ||||||||||||||||
Savings and money market | 138 | 136 | 396 | 447 | ||||||||||||
Certificates of deposit | 355 | 396 | 1,017 | 1,227 | ||||||||||||
Total | $ | 502 | $ | 543 | $ | 1,438 | $ | 1,715 | ||||||||
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | |||||||
Schedule of Commitments to Extend Credit | ' | |||||||
A summary of the Company’s commitments at September 30, 2013 and December 31, 2012 were as follows: | ||||||||
September 30, | December 31, | |||||||
2013 | 2012 | |||||||
COMMITMENTS TO EXTEND CREDIT | ||||||||
REAL ESTATE LOANS | ||||||||
Construction and development | $ | 29,462 | $ | 27,347 | ||||
One-to-four-family | 24,154 | 19,313 | ||||||
Home equity | 11,187 | 11,928 | ||||||
Commercial/Multi-family | 518 | 3,241 | ||||||
Total real estate loans | 65,321 | 61,829 | ||||||
CONSUMER LOANS | ||||||||
Indirect home improvement | 388 | 568 | ||||||
Other | 6,206 | 6,225 | ||||||
Total consumer loans | 6,594 | 6,793 | ||||||
COMMERCIAL BUSINESS LOANS | 58,231 | 41,025 | ||||||
Total commitments to extend credit | $ | 130,146 | $ | 109,647 | ||||
Regulatory_Capital_Tables
Regulatory Capital (Tables) | 9 Months Ended | ||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||
Regulatory Capital Requirements [Abstract] | ' | ||||||||||||||||||||
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations | ' | ||||||||||||||||||||
The Bank’s actual capital amounts and ratios at September 30, 2013 and December 31, 2012 are also presented in the table. | |||||||||||||||||||||
To be Well Capitalized | |||||||||||||||||||||
For Capital | Under Prompt Corrective | ||||||||||||||||||||
Actual | Adequacy Purposes | Action Provisions | |||||||||||||||||||
Amount | Ratio | Amount | Ratio | Amount | Ratio | ||||||||||||||||
As of September 30, 2013 | |||||||||||||||||||||
Total Risk-Based Capital | |||||||||||||||||||||
(to Risk-weighted Assets) | $ | 54,521 | 16.86 | % | $ | 25,868 | 8 | % | $ | 32,335 | 10 | % | |||||||||
Tier 1 Risk-Based Capital | |||||||||||||||||||||
(to Risk-weighted Assets) | $ | 50,460 | 15.61 | % | $ | 12,934 | 4 | % | $ | 19,401 | 6 | % | |||||||||
Tier 1 Leverage Capital | |||||||||||||||||||||
(to Average Assets) | $ | 50,460 | 12.74 | % | $ | 15,840 | 4 | % | $ | 19,800 | 5 | % | |||||||||
As of December 31, 2012 | |||||||||||||||||||||
Total Risk-Based Capital | |||||||||||||||||||||
(to Risk-weighted Assets) | $ | 50,591 | 16 | % | $ | 25,294 | 8 | % | $ | 31,617 | 10 | % | |||||||||
Tier 1 Risk-Based Capital | |||||||||||||||||||||
(to Risk-weighted Assets) | $ | 46,627 | 14.75 | % | $ | 12,647 | 4 | % | $ | 18,970 | 6 | % | |||||||||
Tier 1 Leverage Capital | |||||||||||||||||||||
(to Average Assets) | $ | 46,627 | 13.26 | % | $ | 14,066 | 4 | % | $ | 17,583 | 5 | % | |||||||||
Schedule of Regulatory Capital Level Differences from Total Capital | ' | ||||||||||||||||||||
Regulatory capital levels reported above differ from the Company's total equity, computed in accordance with U.S. GAAP. | |||||||||||||||||||||
Company | Bank | ||||||||||||||||||||
September 30, | December 31, | September 30, | December 31, | ||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||||
Equity | $ | 62,234 | $ | 59,897 | $ | 50,182 | $ | 47,836 | |||||||||||||
Unrealized loss (gain) on securities available-for-sale | 481 | (597 | ) | 481 | (597 | ) | |||||||||||||||
Disallowed deferred tax assets | — | (506 | ) | — | (506 | ) | |||||||||||||||
Disallowed servicing assets | (203 | ) | (106 | ) | (203 | ) | (106 | ) | |||||||||||||
Total Tier 1 capital | 62,512 | 58,688 | 50,460 | 46,627 | |||||||||||||||||
Allowance for loan and lease losses for | 4,061 | 3,964 | 4,061 | 3,964 | |||||||||||||||||
regulatory capital purposes | |||||||||||||||||||||
Total risk-based capital | $ | 66,573 | $ | 62,652 | $ | 54,521 | $ | 50,591 | |||||||||||||
Fair_Value_of_Financial_Instru1
Fair Value of Financial Instruments (Tables) | 9 Months Ended | |||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||||||
Schedule Of Available For Sale Securities Measured At Fair Value On A Recurring Basis | ' | |||||||||||||||||||
The following tables present securities available-for-sale measured at fair value on a recurring basis: | ||||||||||||||||||||
Securities Available-for-Sale | ||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||
30-Sep-13 | ||||||||||||||||||||
Federal agency securities | $ | — | $ | 9,374 | $ | — | $ | 9,374 | ||||||||||||
Municipal bonds | — | 10,450 | — | 10,450 | ||||||||||||||||
Corporate securities | — | 3,463 | — | 3,463 | ||||||||||||||||
Mortgage-backed securities | — | 23,844 | — | 23,844 | ||||||||||||||||
Total | $ | — | $ | 47,131 | $ | — | $ | 47,131 | ||||||||||||
Securities Available-for-Sale | ||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||
31-Dec-12 | ||||||||||||||||||||
Federal agency securities | $ | — | $ | 12,552 | $ | — | $ | 12,552 | ||||||||||||
Municipal bonds | — | 9,060 | — | 9,060 | ||||||||||||||||
Corporate securities | — | 2,488 | — | 2,488 | ||||||||||||||||
Mortgage-backed securities | — | 19,213 | — | 19,213 | ||||||||||||||||
Total | $ | — | $ | 43,313 | $ | — | $ | 43,313 | ||||||||||||
Schedule of Interest Rate Lock Commitments Measured at Fair Value on Recurring Basis | ' | |||||||||||||||||||
The following tables present the fair value of interest rate lock commitments with customers, forward sale commitments with investors and paired off commitments with investors measured at their fair value on a recurring basis at September 30, 2013 and December 31, 2012. | ||||||||||||||||||||
Interest Rate Lock Commitments with Customers | ||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||
30-Sep-13 | $ | — | $ | — | $ | 642 | $ | 642 | ||||||||||||
$ | — | $ | — | $ | 45 | $ | 45 | |||||||||||||
31-Dec-12 | ||||||||||||||||||||
Forward Sale Commitments with Investors [Table Text Block] | ' | |||||||||||||||||||
Forward Sale Commitments with Investors | ||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||
30-Sep-13 | $ | — | $ | (398 | ) | $ | (53 | ) | $ | (451 | ) | |||||||||
$ | — | $ | — | $ | 48 | $ | 48 | |||||||||||||
31-Dec-12 | ||||||||||||||||||||
Paired Off Commitments with Investors [Table Text Block] | ' | |||||||||||||||||||
Paired Off Commitments with Investors | ||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||
30-Sep-13 | $ | — | $ | 13 | $ | — | $ | 13 | ||||||||||||
$ | — | $ | — | $ | — | $ | — | |||||||||||||
31-Dec-12 | ||||||||||||||||||||
Schedule of Valuation Allowance for Impairment of Recognized Servicing Assets | ' | |||||||||||||||||||
The following table presents the impaired loans measured at fair value on a nonrecurring basis and the total valuation allowance or charge-offs on these loans, which represents fair value adjustments for the nine months ended September 30, 2013 and the year ended December 31, 2012. | ||||||||||||||||||||
Impaired Loans | ||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | Total | ||||||||||||||||
Impairment | ||||||||||||||||||||
30-Sep-13 | $ | — | $ | — | $ | 3,509 | $ | 3,509 | $ | (331 | ) | |||||||||
$ | — | $ | — | $ | 3,800 | $ | 3,800 | $ | (125 | ) | ||||||||||
31-Dec-12 | ||||||||||||||||||||
Schedule of Other Real Estate Owned and Repossessed Assets Measured at Fair Value on Nonrecurring Basis | ' | |||||||||||||||||||
The following table presents OREO measured at fair value on a nonrecurring basis at September 30, 2013 and December 31, 2012, and the total losses on these assets, which represents fair value adjustments and other losses for the nine months ended September 30, 2013 and the year ended December 31, 2012. | ||||||||||||||||||||
OREO | ||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | Total | ||||||||||||||||
Impairment | ||||||||||||||||||||
30-Sep-13 | $ | — | $ | — | $ | 2,259 | $ | 2,259 | $ | (347 | ) | |||||||||
$ | — | $ | — | $ | 2,127 | $ | 2,127 | $ | (812 | ) | ||||||||||
31-Dec-12 | ||||||||||||||||||||
Schedule of Mortgage Servicing Rights Measured at Fair Value on Nonrecurring Basis | ' | |||||||||||||||||||
The following table presents mortgage, commercial and consumer servicing rights measured at carrying value on a nonrecurring basis at September 30, 2013 and December 31, 2012, and the total (recoveries)/losses on these assets, which represents fair value adjustments and other (recoveries)/losses for the nine months ended September 30, 2013 and the year ended December 31, 2012. | ||||||||||||||||||||
Mortgage, Commercial and Consumer Servicing Rights | ||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | Total | ||||||||||||||||
Impairment/ (Recovery) | ||||||||||||||||||||
$ | — | $ | — | $ | 2,027 | $ | 2,027 | $ | (102 | ) | ||||||||||
30-Sep-13 | ||||||||||||||||||||
$ | — | $ | — | $ | 1,064 | $ | 1,064 | $ | 112 | |||||||||||
31-Dec-12 | ||||||||||||||||||||
Schedule of Fair Value of Financial Instruments Measured under a Level 3 Unobservable Input | ' | |||||||||||||||||||
NOTE 12 – FAIR VALUE OF FINANCIAL INSTRUMENTS (Continued) | ||||||||||||||||||||
Quantitative Information about Level 3 Fair Value Measurements – The fair value of financial instruments measured under a Level 3 unobservable input on a recurring and nonrecurring basis at September 30, 2013 is shown in the following table. | ||||||||||||||||||||
Level 3 Fair Value Instrument | Valuation Technique | Significant Unobservable Inputs | Range | Weighted Average Rate | ||||||||||||||||
(Weighted Average) | ||||||||||||||||||||
RECURRING | ||||||||||||||||||||
Interest rate lock commitments with customers | Quoted market prices | Pull-through expectations | 80% - 99% | 90.00% | ||||||||||||||||
Forward sale commitments with investors | Quoted market prices | Pull-through expectations | 80% - 99% | 90.00% | ||||||||||||||||
NONRECURRING | ||||||||||||||||||||
Impaired loans | Fair value of underlying collateral | Discount applied to the obtained appraisal | 0% - 10% | 9.50% | ||||||||||||||||
OREO | Fair value of collateral | Discount applied to the obtained appraisal | 9% - 19% | 14.90% | ||||||||||||||||
Mortgage, commercial and consumer servicing rights | Discounted cash flow | Weighted average prepayment speed | 7.5% - 10.5% | 7.50% | ||||||||||||||||
Fair Value, by Balance Sheet Grouping | ' | |||||||||||||||||||
The estimated fair values of the Company’s financial instruments were as follows: | ||||||||||||||||||||
September 30, | December 31, | |||||||||||||||||||
2013 | 2012 | |||||||||||||||||||
Carrying | Fair | Carrying | Fair | |||||||||||||||||
Amount | Value | Amount | Value | |||||||||||||||||
Financial Assets | ||||||||||||||||||||
Level 1 inputs: | ||||||||||||||||||||
Cash, due from banks, and interest-bearing deposits at other | $ | 27,340 | $ | 27,340 | $ | 9,413 | $ | 9,413 | ||||||||||||
financial institutions | ||||||||||||||||||||
Level 2 inputs: | ||||||||||||||||||||
Securities available-for-sale | 47,131 | 47,131 | 43,313 | 43,313 | ||||||||||||||||
Loans held for sale | 8,389 | 8,389 | 8,870 | 8,870 | ||||||||||||||||
FHLB stock | 1,717 | 1,717 | 1,765 | 1,765 | ||||||||||||||||
Accrued interest receivable | 1,333 | 1,333 | 1,223 | 1,223 | ||||||||||||||||
Forward sale commitments with investors | — | — | — | — | ||||||||||||||||
Paired off commitments with investors | 13 | 13 | — | — | ||||||||||||||||
Level 3 inputs: | ||||||||||||||||||||
Loans receivable, net | 283,794 | 311,705 | 274,949 | 306,695 | ||||||||||||||||
Mortgage, commercial and consumer servicing rights | 2,027 | 2,297 | 1,064 | 1,064 | ||||||||||||||||
Fair value interest rate locks with customers | 642 | 642 | 79 | 79 | ||||||||||||||||
Forward sale commitments with investors | — | — | 54 | 54 | ||||||||||||||||
Financial Liabilities | ||||||||||||||||||||
Level 2 inputs: | ||||||||||||||||||||
Deposits | 316,868 | 330,964 | 288,949 | 304,257 | ||||||||||||||||
Borrowings | 13,664 | 13,614 | 6,840 | 7,059 | ||||||||||||||||
Accrued interest payable | 18 | 18 | 12 | 12 | ||||||||||||||||
Forward sale commitments with investors | 398 | 398 | — | — | ||||||||||||||||
Level 3 inputs: | ||||||||||||||||||||
Fair value interest rate locks with customers | — | — | 34 | 34 | ||||||||||||||||
Forward sale commitments with investors | 53 | 53 | 6 | 6 | ||||||||||||||||
Employee_Benefits_Employee_Ben1
Employee Benefits Employee Benefits (Tables) | 9 Months Ended | |||
Sep. 30, 2013 | ||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | |||
Schedule of Shares Under ESOP | ' | |||
Shares held by the ESOP as of September 30, 2013 were as follows: | ||||
Balances | ||||
Allocated shares | 25,921 | |||
Committed to be released shares | 19,441 | |||
Unallocated shares | 213,848 | |||
Total ESOP shares | 259,210 | |||
Fair value of unallocated shares (in thousands) | $ | 3,661 | ||
Earnings_Per_Share_Tables
Earnings Per Share (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||||||
Schedule of Earnings Per Share, Basic and Diluted | ' | |||||||||||||||
The following table presents a reconciliation of the components used to compute basic and diluted earnings per share for the three and nine months ended September 30, 2013 and 2012. | ||||||||||||||||
At or For the Three Months Ended | At or For the Nine Months Ended | |||||||||||||||
September 30, | September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Numerator: | ||||||||||||||||
Net Income (in thousands) | $ | 1,062 | $ | 3,325 | $ | 3,383 | $ | 4,223 | ||||||||
Denominator: | ||||||||||||||||
Denominator for basic earnings per share- weighted average common shares outstanding | 3,026,277 | 3,240,125 | 3,026,277 | n/a(1) | ||||||||||||
Denominator for diluted earnings per share- weighted average common shares outstanding | 3,026,277 | 3,240,125 | 3,026,277 | n/a(1) | ||||||||||||
Basic earnings per share | $ | 0.35 | $ | 1.03 | $ | 1.12 | n/a(1) | |||||||||
Diluted earnings per share | $ | 0.35 | $ | 1.03 | $ | 1.12 | n/a(1) | |||||||||
Basis_of_Presentation_and_Summ2
Basis of Presentation and Summary of Significant Accounting Policies (Details) (USD $) | 0 Months Ended | ||
Jul. 09, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | |
branch | |||
Schedule of Accounting Policies [Line Items] | ' | ' | ' |
Number of bank branches | ' | 7 | ' |
Common shares issued (in shares) | 3,240,125 | ' | ' |
Price per share (in dollars per share) | $10 | ' | ' |
Proceeds from stock issuance | $32,400,000 | ' | ' |
Cost of conversion and issuance of stock | 2,500,000 | ' | ' |
Percentage of common shares purchased under ESOP | 8.00% | ' | ' |
Total ESOP shares | 259,210 | 259,210 | ' |
Interest-bearing deposits with other financial institutions | ' | 25,323,000 | 5,410,000 |
Certificates of deposit | ' | 2,600,000 | 2,600,000 |
1st Security Bank of Washington | ' | ' | ' |
Schedule of Accounting Policies [Line Items] | ' | ' | ' |
Capital contributions | $15,500,000 | ' | ' |
Schedule_of_Availableforsale_S
Schedule of Available-for-sale Securities Reconciliation (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | $47,860 | $42,408 |
Gross Unrealized Gains | 320 | 930 |
Gross Unrealized Losses (less than 1 year) | -1,049 | -25 |
Gross Unrealized Losses (more than 1 year) | 0 | 0 |
Estimated Fair Values | 47,131 | 43,313 |
Federal agency securities | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 9,796 | 12,287 |
Gross Unrealized Gains | 33 | 281 |
Gross Unrealized Losses (less than 1 year) | -455 | -16 |
Gross Unrealized Losses (more than 1 year) | 0 | 0 |
Estimated Fair Values | 9,374 | 12,552 |
Municipal bonds | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 10,428 | 8,863 |
Gross Unrealized Gains | 176 | 202 |
Gross Unrealized Losses (less than 1 year) | -154 | -5 |
Gross Unrealized Losses (more than 1 year) | 0 | 0 |
Estimated Fair Values | 10,450 | 9,060 |
Corporate Debt Securities | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 3,503 | 2,492 |
Gross Unrealized Gains | 4 | 0 |
Gross Unrealized Losses (less than 1 year) | -44 | -4 |
Gross Unrealized Losses (more than 1 year) | 0 | 0 |
Estimated Fair Values | 3,463 | 2,488 |
Mortgage-backed securities | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 24,133 | 18,766 |
Gross Unrealized Gains | 107 | 447 |
Gross Unrealized Losses (less than 1 year) | -396 | 0 |
Gross Unrealized Losses (more than 1 year) | 0 | 0 |
Estimated Fair Values | $23,844 | $19,213 |
Investments_with_Unrealized_Lo
Investments with Unrealized Losses Policy (Details) (USD $) | 9 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 |
security | security | |
Investments, Debt and Equity Securities [Abstract] | ' | ' |
Investments with unrealized losses of less than one year | 26 | 9 |
Other than Temporary Impairment Losses, Investments | $0 | $0 |
Schedule_of_Available_for_Sale
Schedule of Available for Sale Securities by Contractual Mataurity (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Amortized Costs | ' | ' |
No contractual maturity | $0 | ' |
Due in one year or less | 2,282 | ' |
Due after one year through five years | 3,597 | ' |
Due after five years through ten years | 15,758 | ' |
Due after ten years | 26,223 | ' |
Total | 47,860 | ' |
Fair Value | ' | ' |
No contractual maturity | 0 | ' |
Due in one year or less | 2,302 | ' |
Due after one year through five years | 3,643 | ' |
Due after five years through ten years | 15,290 | ' |
Due after ten years | 25,896 | ' |
Total | $47,131 | $43,313 |
Schedule_of_Sales_of_Available
Schedule of Sales of Available for Sale Securities (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Investments, Debt and Equity Securities [Abstract] | ' | ' | ' | ' |
Proceeds from Sale of Available-for-sale Securities | $0 | $0 | $8,786 | $2,432 |
Available-for-sale Securities, Gross Realized Gains | 0 | 0 | 264 | 106 |
Securities available-for-sale, Gross Losses | $0 | $0 | $0 | $0 |
Loans_Receivable_and_Allowance2
Loans Receivable and Allowance For Loan Losses (Composition of Loan Portfolio) (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | segment | segment | REAL ESTATE LOANS | REAL ESTATE LOANS | Commercial | Commercial | Construction and development | Construction and development | Home equity | Home equity | One-to-four-family | One-to-four-family | Multi-family | Multi-family | CONSUMER LOANS | CONSUMER LOANS | Indirect home improvement | Indirect home improvement | Marine | Marine | Recreational | Recreational | Automobile | Automobile | Home improvement | Home improvement | Other | Other | Commercial Business Loans | Commercial Business Loans |
unit | ||||||||||||||||||||||||||||||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total loans | $289,444 | $279,930 | $120,245 | $97,795 | $37,327 | $33,250 | $43,088 | $31,893 | $16,253 | $15,474 | $18,854 | $13,976 | $4,723 | $3,202 | $124,080 | $108,670 | $99,838 | $86,249 | $20,631 | $17,226 | $584 | $742 | $1,222 | $2,416 | $495 | $651 | $1,310 | $1,386 | $45,119 | $73,465 |
Allowance for loan losses | -5,310 | -4,698 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred costs, fees, and discounts, net | -340 | -283 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loans receivable, net | $283,794 | $274,949 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of Loan Portfolio Segments | 3 | 3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of Units in Real Estate Property | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loans_Receivable_and_Allowance3
Loans Receivable and Allowance For Loan Losses (Schedule of Allowance for Loan Losses by Loan Categories) (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 |
ALLOWANCE FOR LOAN LOSSES | ' | ' | ' | ' | ' |
Beginning balance | $5,276 | $4,332 | $4,698 | $4,345 | ' |
Provision for loan loss | 520 | 630 | 1,720 | 1,695 | ' |
Charge-offs | -650 | -800 | -1,754 | -2,468 | ' |
Recoveries | 164 | 197 | 646 | 787 | ' |
Net charge-offs | -486 | -603 | -1,108 | -1,681 | ' |
Ending balance | 5,310 | 4,359 | 5,310 | 4,359 | ' |
Loans individually evaluated for impairment | 331 | 195 | 331 | 195 | ' |
Loans collectively evaluated for impairment | 4,979 | 4,164 | 4,979 | 4,164 | ' |
Ending balance | 5,310 | 4,359 | 5,310 | 4,359 | ' |
LOANS RECEIVABLES | ' | ' | ' | ' | ' |
Loans individually evaluated for impairment | 3,509 | 3,787 | 3,509 | 3,787 | ' |
Loans collectively evaluated for impairment | 285,935 | 259,556 | 285,935 | 259,556 | ' |
Total Loans Receivable | 289,444 | 263,343 | 289,444 | 263,343 | 279,930 |
Real Estate | ' | ' | ' | ' | ' |
ALLOWANCE FOR LOAN LOSSES | ' | ' | ' | ' | ' |
Beginning balance | 2,495 | 1,123 | 1,690 | 803 | ' |
Provision for loan loss | 280 | 634 | 1,252 | 1,215 | ' |
Charge-offs | -275 | -226 | -477 | -490 | ' |
Recoveries | 0 | 1 | 35 | 4 | ' |
Net charge-offs | -275 | -225 | -442 | -486 | ' |
Ending balance | 2,500 | 1,532 | 2,500 | 1,532 | ' |
Loans individually evaluated for impairment | 303 | 167 | 303 | 167 | ' |
Loans collectively evaluated for impairment | 2,197 | 1,365 | 2,197 | 1,365 | ' |
Ending balance | 2,500 | 1,532 | 2,500 | 1,532 | ' |
LOANS RECEIVABLES | ' | ' | ' | ' | ' |
Loans individually evaluated for impairment | 3,337 | 3,521 | 3,337 | 3,521 | ' |
Loans collectively evaluated for impairment | 116,908 | 80,168 | 116,908 | 80,168 | ' |
Total Loans Receivable | 120,245 | 83,689 | 120,245 | 83,689 | ' |
Consumer | ' | ' | ' | ' | ' |
ALLOWANCE FOR LOAN LOSSES | ' | ' | ' | ' | ' |
Beginning balance | 1,736 | 2,178 | 2,158 | 2,846 | ' |
Provision for loan loss | 64 | 384 | 55 | 434 | ' |
Charge-offs | -375 | -563 | -1,233 | -1,868 | ' |
Recoveries | 154 | 196 | 599 | 783 | ' |
Net charge-offs | -221 | -367 | -634 | -1,085 | ' |
Ending balance | 1,579 | 2,195 | 1,579 | 2,195 | ' |
Loans individually evaluated for impairment | 0 | 0 | 0 | 0 | ' |
Loans collectively evaluated for impairment | 1,579 | 2,195 | 1,579 | 2,195 | ' |
Ending balance | 1,579 | 2,195 | 1,579 | 2,195 | ' |
LOANS RECEIVABLES | ' | ' | ' | ' | ' |
Loans individually evaluated for impairment | 0 | 0 | 0 | 0 | ' |
Loans collectively evaluated for impairment | 124,080 | 118,166 | 124,080 | 118,166 | ' |
Total Loans Receivable | 124,080 | 118,166 | 124,080 | 118,166 | 108,670 |
Commercial Business | ' | ' | ' | ' | ' |
ALLOWANCE FOR LOAN LOSSES | ' | ' | ' | ' | ' |
Beginning balance | 580 | 660 | 815 | 511 | ' |
Provision for loan loss | -195 | -36 | -388 | 212 | ' |
Charge-offs | 0 | -11 | -44 | -110 | ' |
Recoveries | 10 | 0 | 12 | 0 | ' |
Net charge-offs | 10 | -11 | -32 | -110 | ' |
Ending balance | 395 | 613 | 395 | 613 | ' |
Loans individually evaluated for impairment | 28 | 28 | 28 | 28 | ' |
Loans collectively evaluated for impairment | 367 | 585 | 367 | 585 | ' |
Ending balance | 395 | 613 | 395 | 613 | ' |
LOANS RECEIVABLES | ' | ' | ' | ' | ' |
Loans individually evaluated for impairment | 172 | 266 | 172 | 266 | ' |
Loans collectively evaluated for impairment | 44,947 | 61,222 | 44,947 | 61,222 | ' |
Total Loans Receivable | 45,119 | 61,488 | 45,119 | 61,488 | 73,465 |
Unallocated | ' | ' | ' | ' | ' |
ALLOWANCE FOR LOAN LOSSES | ' | ' | ' | ' | ' |
Beginning balance | 465 | 371 | 35 | 185 | ' |
Provision for loan loss | 371 | -352 | 801 | -166 | ' |
Charge-offs | 0 | 0 | 0 | 0 | ' |
Recoveries | 0 | 0 | 0 | 0 | ' |
Net charge-offs | 0 | 0 | 0 | 0 | ' |
Ending balance | 836 | 19 | 836 | 19 | ' |
Loans individually evaluated for impairment | 0 | 0 | 0 | 0 | ' |
Loans collectively evaluated for impairment | 836 | 19 | 836 | 19 | ' |
Ending balance | 836 | 19 | 836 | 19 | ' |
LOANS RECEIVABLES | ' | ' | ' | ' | ' |
Loans individually evaluated for impairment | 0 | 0 | 0 | 0 | ' |
Loans collectively evaluated for impairment | 0 | 0 | 0 | 0 | ' |
Total Loans Receivable | $0 | $0 | $0 | $0 | ' |
Loans_Receivable_and_Allowance4
Loans Receivable and Allowance For Loan Losses (Schedule of Aging Analysis of Past Due Loans) (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 |
In Thousands, unless otherwise specified | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-59 Days | $2,208 | $1,049 | ' |
60-89 Days | 629 | 798 | ' |
90 Days or More Past Due | 0 | 0 | ' |
Total Past Due | 2,837 | 1,847 | ' |
Non-Accrual | 1,524 | 1,906 | ' |
Current | 285,083 | 276,177 | ' |
Total Loans Receivable | 289,444 | 279,930 | 263,343 |
REAL ESTATE LOANS | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-59 Days | 1,493 | 192 | ' |
60-89 Days | 249 | 484 | ' |
90 Days or More Past Due | 0 | 0 | ' |
Total Past Due | 1,742 | 676 | ' |
Non-Accrual | 1,065 | 1,375 | ' |
Current | 117,438 | 95,744 | ' |
Total Loans Receivable | 120,245 | 97,795 | ' |
Commercial | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-59 Days | 0 | 0 | ' |
60-89 Days | 0 | 0 | ' |
90 Days or More Past Due | 0 | 0 | ' |
Total Past Due | 0 | 0 | ' |
Non-Accrual | 611 | 783 | ' |
Current | 36,716 | 32,467 | ' |
Total Loans Receivable | 37,327 | 33,250 | ' |
Construction and development | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-59 Days | 0 | 0 | ' |
60-89 Days | 0 | 0 | ' |
90 Days or More Past Due | 0 | 0 | ' |
Total Past Due | 0 | 0 | ' |
Non-Accrual | 0 | 0 | ' |
Current | 43,088 | 31,893 | ' |
Total Loans Receivable | 43,088 | 31,893 | ' |
Home equity | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-59 Days | 389 | 192 | ' |
60-89 Days | 249 | 484 | ' |
90 Days or More Past Due | 0 | 0 | ' |
Total Past Due | 638 | 676 | ' |
Non-Accrual | 114 | 248 | ' |
Current | 15,501 | 14,550 | ' |
Total Loans Receivable | 16,253 | 15,474 | ' |
One-to-four-family | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-59 Days | 1,104 | 0 | ' |
60-89 Days | 0 | 0 | ' |
90 Days or More Past Due | 0 | 0 | ' |
Total Past Due | 1,104 | 0 | ' |
Non-Accrual | 340 | 344 | ' |
Current | 17,410 | 13,632 | ' |
Total Loans Receivable | 18,854 | 13,976 | ' |
Multi-family | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-59 Days | 0 | 0 | ' |
60-89 Days | 0 | 0 | ' |
90 Days or More Past Due | 0 | 0 | ' |
Total Past Due | 0 | 0 | ' |
Non-Accrual | 0 | 0 | ' |
Current | 4,723 | 3,202 | ' |
Total Loans Receivable | 4,723 | 3,202 | ' |
CONSUMER LOANS | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-59 Days | 715 | 857 | ' |
60-89 Days | 380 | 314 | ' |
90 Days or More Past Due | 0 | 0 | ' |
Total Past Due | 1,095 | 1,171 | ' |
Non-Accrual | 343 | 337 | ' |
Current | 122,642 | 107,162 | ' |
Total Loans Receivable | 124,080 | 108,670 | 118,166 |
Indirect home improvement | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-59 Days | 582 | 653 | ' |
60-89 Days | 379 | 300 | ' |
90 Days or More Past Due | 0 | 0 | ' |
Total Past Due | 961 | 953 | ' |
Non-Accrual | 341 | 295 | ' |
Current | 98,536 | 85,001 | ' |
Total Loans Receivable | 99,838 | 86,249 | ' |
Marine | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-59 Days | 66 | 84 | ' |
60-89 Days | 0 | 2 | ' |
90 Days or More Past Due | 0 | 0 | ' |
Total Past Due | 66 | 86 | ' |
Non-Accrual | 0 | 0 | ' |
Current | 20,565 | 17,140 | ' |
Total Loans Receivable | 20,631 | 17,226 | ' |
Recreational | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-59 Days | 4 | 44 | ' |
60-89 Days | 0 | 0 | ' |
90 Days or More Past Due | 0 | 0 | ' |
Total Past Due | 4 | 44 | ' |
Non-Accrual | 0 | 0 | ' |
Current | 580 | 698 | ' |
Total Loans Receivable | 584 | 742 | ' |
Automobile | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-59 Days | 36 | 68 | ' |
60-89 Days | 1 | 1 | ' |
90 Days or More Past Due | 0 | 0 | ' |
Total Past Due | 37 | 69 | ' |
Non-Accrual | 2 | 10 | ' |
Current | 1,183 | 2,337 | ' |
Total Loans Receivable | 1,222 | 2,416 | ' |
Home improvement | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-59 Days | 7 | 0 | ' |
60-89 Days | 0 | 0 | ' |
90 Days or More Past Due | 0 | 0 | ' |
Total Past Due | 7 | 0 | ' |
Non-Accrual | 0 | 32 | ' |
Current | 488 | 619 | ' |
Total Loans Receivable | 495 | 651 | ' |
Other | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-59 Days | 20 | 8 | ' |
60-89 Days | 0 | 11 | ' |
90 Days or More Past Due | 0 | 0 | ' |
Total Past Due | 20 | 19 | ' |
Non-Accrual | 0 | 0 | ' |
Current | 1,290 | 1,367 | ' |
Total Loans Receivable | 1,310 | 1,386 | ' |
Commercial Business Loans | ' | ' | ' |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ' | ' | ' |
30-59 Days | 0 | 0 | ' |
60-89 Days | 0 | 0 | ' |
90 Days or More Past Due | 0 | 0 | ' |
Total Past Due | 0 | 0 | ' |
Non-Accrual | 116 | 194 | ' |
Current | 45,003 | 73,271 | ' |
Total Loans Receivable | $45,119 | $73,465 | $61,488 |
Loans_Receivable_and_Allowance5
Loans Receivable and Allowance For Loan Losses (Schedule of Financing Receivables, Related Allowance Recorded and No Related Allowance Recorded) (Details) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 |
Impaired Financing Receivable, Unpaid Principal Balance [Abstract] | ' | ' | ' | ' | ' |
Unpaid Principal Balance, with no related allowance recorded | $1,302 | ' | $1,302 | ' | $1,647 |
Unpaid Principal Balance, with an allowance recorded | 2,578 | ' | 2,578 | ' | 2,642 |
Unpaid Principal Balance | 3,880 | ' | 3,880 | ' | 4,289 |
Impaired Financing Receivable, Write-downs [Abstract] | ' | ' | ' | ' | ' |
Write-downs with no related allowance recorded | -241 | ' | -241 | ' | -281 |
Write-downs, with allowance recorded | -130 | ' | -130 | ' | -208 |
Write-Downs | -371 | ' | -371 | ' | -489 |
Impaired Financing Receivable, Recorded Investment [Abstract] | ' | ' | ' | ' | ' |
Recorded Investment, with no related allowance recorded | 1,061 | ' | 1,061 | ' | 1,366 |
Recorded Investment, with allowance recorded | 2,448 | ' | 2,448 | ' | 2,434 |
Total troubled debt restructured loans | 3,509 | ' | 3,509 | ' | 3,800 |
Impaired Financing Receivable, Specific Reserve [Abstract] | ' | ' | ' | ' | ' |
Specific Reserve, with no related allowance recorded | 0 | ' | 0 | ' | 0 |
Specific Reserve, with allowance recorded | -331 | ' | -331 | ' | -125 |
Specific Reserve | -331 | ' | -331 | ' | -125 |
Impaired Financing Receivable, Adjusted Recorded Investment [Abstract] | ' | ' | ' | ' | ' |
Adjusted Recorded Investment, with no related allowance recorded | 1,061 | ' | 1,061 | ' | 1,366 |
Adjusted Recorded Investment, with allowance recorded | 2,117 | ' | 2,117 | ' | 2,309 |
Adjusted Recorded Investment | 3,178 | ' | 3,178 | ' | 3,675 |
Impaired Financing Receivable, Average Recorded Investment [Abstract] | ' | ' | ' | ' | ' |
YTD Average Recorded Investment, with no related allowance recorded | ' | ' | 1,050 | ' | 1,456 |
YTD Average Recorded Investment, with related allowance recorded | ' | ' | 2,498 | ' | 2,577 |
YTD Average Recorded Investment | 3,500 | ' | 3,548 | 3,800 | 4,033 |
Impaired Financing Receivable, Interest Income, Accrual Method [Abstract] | ' | ' | ' | ' | ' |
YTD Interest Income Recognized, with no related allowance recorded | ' | ' | 45 | ' | 33 |
YTD Interest Income Recognized, with allowance recorded | ' | ' | 63 | ' | 80 |
YTD Interest Income Recognized | 28 | 96 | 108 | 100 | 113 |
Commercial | ' | ' | ' | ' | ' |
Impaired Financing Receivable, Unpaid Principal Balance [Abstract] | ' | ' | ' | ' | ' |
Unpaid Principal Balance, with no related allowance recorded | 0 | ' | 0 | ' | 0 |
Unpaid Principal Balance, with an allowance recorded | 2,248 | ' | 2,248 | ' | 950 |
Impaired Financing Receivable, Write-downs [Abstract] | ' | ' | ' | ' | ' |
Write-downs with no related allowance recorded | 0 | ' | 0 | ' | 0 |
Write-downs, with allowance recorded | -109 | ' | -109 | ' | -167 |
Impaired Financing Receivable, Recorded Investment [Abstract] | ' | ' | ' | ' | ' |
Recorded Investment, with no related allowance recorded | 0 | ' | 0 | ' | 0 |
Recorded Investment, with allowance recorded | 2,139 | ' | 2,139 | ' | 783 |
Impaired Financing Receivable, Specific Reserve [Abstract] | ' | ' | ' | ' | ' |
Specific Reserve, with no related allowance recorded | 0 | ' | 0 | ' | 0 |
Specific Reserve, with allowance recorded | -244 | ' | -244 | ' | -39 |
Impaired Financing Receivable, Adjusted Recorded Investment [Abstract] | ' | ' | ' | ' | ' |
Adjusted Recorded Investment, with no related allowance recorded | 0 | ' | 0 | ' | 0 |
Adjusted Recorded Investment, with allowance recorded | 1,895 | ' | 1,895 | ' | 744 |
Impaired Financing Receivable, Average Recorded Investment [Abstract] | ' | ' | ' | ' | ' |
YTD Average Recorded Investment, with no related allowance recorded | ' | ' | 0 | ' | 0 |
YTD Average Recorded Investment, with related allowance recorded | ' | ' | 2,183 | ' | 893 |
Impaired Financing Receivable, Interest Income, Accrual Method [Abstract] | ' | ' | ' | ' | ' |
YTD Interest Income Recognized, with no related allowance recorded | ' | ' | 0 | ' | 0 |
YTD Interest Income Recognized, with allowance recorded | ' | ' | 62 | ' | 7 |
Construction and development | ' | ' | ' | ' | ' |
Impaired Financing Receivable, Unpaid Principal Balance [Abstract] | ' | ' | ' | ' | ' |
Unpaid Principal Balance, with no related allowance recorded | 0 | ' | 0 | ' | 0 |
Unpaid Principal Balance, with an allowance recorded | 0 | ' | 0 | ' | 0 |
Impaired Financing Receivable, Write-downs [Abstract] | ' | ' | ' | ' | ' |
Write-downs with no related allowance recorded | 0 | ' | 0 | ' | 0 |
Write-downs, with allowance recorded | 0 | ' | 0 | ' | 0 |
Impaired Financing Receivable, Recorded Investment [Abstract] | ' | ' | ' | ' | ' |
Recorded Investment, with no related allowance recorded | 0 | ' | 0 | ' | 0 |
Recorded Investment, with allowance recorded | 0 | ' | 0 | ' | 0 |
Impaired Financing Receivable, Specific Reserve [Abstract] | ' | ' | ' | ' | ' |
Specific Reserve, with no related allowance recorded | 0 | ' | 0 | ' | 0 |
Specific Reserve, with allowance recorded | 0 | ' | 0 | ' | 0 |
Impaired Financing Receivable, Adjusted Recorded Investment [Abstract] | ' | ' | ' | ' | ' |
Adjusted Recorded Investment, with no related allowance recorded | 0 | ' | 0 | ' | 0 |
Adjusted Recorded Investment, with allowance recorded | 0 | ' | 0 | ' | 0 |
Impaired Financing Receivable, Average Recorded Investment [Abstract] | ' | ' | ' | ' | ' |
YTD Average Recorded Investment, with no related allowance recorded | ' | ' | 0 | ' | 0 |
YTD Average Recorded Investment, with related allowance recorded | ' | ' | 0 | ' | 0 |
Impaired Financing Receivable, Interest Income, Accrual Method [Abstract] | ' | ' | ' | ' | ' |
YTD Interest Income Recognized, with no related allowance recorded | ' | ' | 0 | ' | 0 |
YTD Interest Income Recognized, with allowance recorded | ' | ' | 0 | ' | 0 |
Home equity | ' | ' | ' | ' | ' |
Impaired Financing Receivable, Unpaid Principal Balance [Abstract] | ' | ' | ' | ' | ' |
Unpaid Principal Balance, with no related allowance recorded | 0 | ' | 0 | ' | 111 |
Unpaid Principal Balance, with an allowance recorded | 90 | ' | 90 | ' | 1,625 |
Impaired Financing Receivable, Write-downs [Abstract] | ' | ' | ' | ' | ' |
Write-downs with no related allowance recorded | 0 | ' | 0 | ' | 0 |
Write-downs, with allowance recorded | 0 | ' | 0 | ' | -38 |
Impaired Financing Receivable, Recorded Investment [Abstract] | ' | ' | ' | ' | ' |
Recorded Investment, with no related allowance recorded | 0 | ' | 0 | ' | 111 |
Recorded Investment, with allowance recorded | 90 | ' | 90 | ' | 1,587 |
Impaired Financing Receivable, Specific Reserve [Abstract] | ' | ' | ' | ' | ' |
Specific Reserve, with no related allowance recorded | 0 | ' | 0 | ' | 0 |
Specific Reserve, with allowance recorded | -38 | ' | -38 | ' | -79 |
Impaired Financing Receivable, Adjusted Recorded Investment [Abstract] | ' | ' | ' | ' | ' |
Adjusted Recorded Investment, with no related allowance recorded | 0 | ' | 0 | ' | 111 |
Adjusted Recorded Investment, with allowance recorded | 52 | ' | 52 | ' | 1,508 |
Impaired Financing Receivable, Average Recorded Investment [Abstract] | ' | ' | ' | ' | ' |
YTD Average Recorded Investment, with no related allowance recorded | ' | ' | 0 | ' | 112 |
YTD Average Recorded Investment, with related allowance recorded | ' | ' | 90 | ' | 1,616 |
Impaired Financing Receivable, Interest Income, Accrual Method [Abstract] | ' | ' | ' | ' | ' |
YTD Interest Income Recognized, with no related allowance recorded | ' | ' | 0 | ' | 3 |
YTD Interest Income Recognized, with allowance recorded | ' | ' | 0 | ' | 68 |
One-to-four-family | ' | ' | ' | ' | ' |
Impaired Financing Receivable, Unpaid Principal Balance [Abstract] | ' | ' | ' | ' | ' |
Unpaid Principal Balance, with no related allowance recorded | 1,136 | ' | 1,136 | ' | 1,295 |
Unpaid Principal Balance, with an allowance recorded | 159 | ' | 159 | ' | 0 |
Impaired Financing Receivable, Write-downs [Abstract] | ' | ' | ' | ' | ' |
Write-downs with no related allowance recorded | -169 | ' | -169 | ' | -170 |
Write-downs, with allowance recorded | -18 | ' | -18 | ' | 0 |
Impaired Financing Receivable, Recorded Investment [Abstract] | ' | ' | ' | ' | ' |
Recorded Investment, with no related allowance recorded | 967 | ' | 967 | ' | 1,125 |
Recorded Investment, with allowance recorded | 141 | ' | 141 | ' | 0 |
Impaired Financing Receivable, Specific Reserve [Abstract] | ' | ' | ' | ' | ' |
Specific Reserve, with no related allowance recorded | 0 | ' | 0 | ' | 0 |
Specific Reserve, with allowance recorded | -21 | ' | -21 | ' | 0 |
Impaired Financing Receivable, Adjusted Recorded Investment [Abstract] | ' | ' | ' | ' | ' |
Adjusted Recorded Investment, with no related allowance recorded | 967 | ' | 967 | ' | 1,125 |
Adjusted Recorded Investment, with allowance recorded | 120 | ' | 120 | ' | 0 |
Impaired Financing Receivable, Average Recorded Investment [Abstract] | ' | ' | ' | ' | ' |
YTD Average Recorded Investment, with no related allowance recorded | ' | ' | 956 | ' | 1,172 |
YTD Average Recorded Investment, with related allowance recorded | ' | ' | 157 | ' | 0 |
Impaired Financing Receivable, Interest Income, Accrual Method [Abstract] | ' | ' | ' | ' | ' |
YTD Interest Income Recognized, with no related allowance recorded | ' | ' | 45 | ' | 30 |
YTD Interest Income Recognized, with allowance recorded | ' | ' | 0 | ' | 0 |
Multi-family | ' | ' | ' | ' | ' |
Impaired Financing Receivable, Unpaid Principal Balance [Abstract] | ' | ' | ' | ' | ' |
Unpaid Principal Balance, with no related allowance recorded | 0 | ' | 0 | ' | 0 |
Unpaid Principal Balance, with an allowance recorded | 0 | ' | 0 | ' | 0 |
Impaired Financing Receivable, Write-downs [Abstract] | ' | ' | ' | ' | ' |
Write-downs with no related allowance recorded | 0 | ' | 0 | ' | 0 |
Write-downs, with allowance recorded | 0 | ' | 0 | ' | 0 |
Impaired Financing Receivable, Recorded Investment [Abstract] | ' | ' | ' | ' | ' |
Recorded Investment, with no related allowance recorded | 0 | ' | 0 | ' | 0 |
Recorded Investment, with allowance recorded | 0 | ' | 0 | ' | 0 |
Impaired Financing Receivable, Specific Reserve [Abstract] | ' | ' | ' | ' | ' |
Specific Reserve, with no related allowance recorded | 0 | ' | 0 | ' | 0 |
Specific Reserve, with allowance recorded | 0 | ' | 0 | ' | 0 |
Impaired Financing Receivable, Adjusted Recorded Investment [Abstract] | ' | ' | ' | ' | ' |
Adjusted Recorded Investment, with no related allowance recorded | 0 | ' | 0 | ' | 0 |
Adjusted Recorded Investment, with allowance recorded | 0 | ' | 0 | ' | 0 |
Impaired Financing Receivable, Average Recorded Investment [Abstract] | ' | ' | ' | ' | ' |
YTD Average Recorded Investment, with no related allowance recorded | ' | ' | 0 | ' | 0 |
YTD Average Recorded Investment, with related allowance recorded | ' | ' | 0 | ' | 0 |
Impaired Financing Receivable, Interest Income, Accrual Method [Abstract] | ' | ' | ' | ' | ' |
YTD Interest Income Recognized, with no related allowance recorded | ' | ' | 0 | ' | 0 |
YTD Interest Income Recognized, with allowance recorded | ' | ' | 0 | ' | 0 |
Indirect home improvement | ' | ' | ' | ' | ' |
Impaired Financing Receivable, Unpaid Principal Balance [Abstract] | ' | ' | ' | ' | ' |
Unpaid Principal Balance, with no related allowance recorded | 0 | ' | 0 | ' | 0 |
Unpaid Principal Balance, with an allowance recorded | 0 | ' | 0 | ' | 0 |
Impaired Financing Receivable, Write-downs [Abstract] | ' | ' | ' | ' | ' |
Write-downs with no related allowance recorded | 0 | ' | 0 | ' | 0 |
Write-downs, with allowance recorded | 0 | ' | 0 | ' | 0 |
Impaired Financing Receivable, Recorded Investment [Abstract] | ' | ' | ' | ' | ' |
Recorded Investment, with no related allowance recorded | 0 | ' | 0 | ' | 0 |
Recorded Investment, with allowance recorded | 0 | ' | 0 | ' | 0 |
Impaired Financing Receivable, Specific Reserve [Abstract] | ' | ' | ' | ' | ' |
Specific Reserve, with no related allowance recorded | 0 | ' | 0 | ' | 0 |
Specific Reserve, with allowance recorded | 0 | ' | 0 | ' | 0 |
Impaired Financing Receivable, Adjusted Recorded Investment [Abstract] | ' | ' | ' | ' | ' |
Adjusted Recorded Investment, with no related allowance recorded | 0 | ' | 0 | ' | 0 |
Adjusted Recorded Investment, with allowance recorded | 0 | ' | 0 | ' | 0 |
Impaired Financing Receivable, Average Recorded Investment [Abstract] | ' | ' | ' | ' | ' |
YTD Average Recorded Investment, with no related allowance recorded | ' | ' | 0 | ' | 0 |
YTD Average Recorded Investment, with related allowance recorded | ' | ' | 0 | ' | 0 |
Impaired Financing Receivable, Interest Income, Accrual Method [Abstract] | ' | ' | ' | ' | ' |
YTD Interest Income Recognized, with no related allowance recorded | ' | ' | 0 | ' | 0 |
YTD Interest Income Recognized, with allowance recorded | ' | ' | 0 | ' | 0 |
Marine | ' | ' | ' | ' | ' |
Impaired Financing Receivable, Unpaid Principal Balance [Abstract] | ' | ' | ' | ' | ' |
Unpaid Principal Balance, with no related allowance recorded | 0 | ' | 0 | ' | 0 |
Unpaid Principal Balance, with an allowance recorded | 0 | ' | 0 | ' | 0 |
Impaired Financing Receivable, Write-downs [Abstract] | ' | ' | ' | ' | ' |
Write-downs with no related allowance recorded | 0 | ' | 0 | ' | 0 |
Write-downs, with allowance recorded | 0 | ' | 0 | ' | 0 |
Impaired Financing Receivable, Recorded Investment [Abstract] | ' | ' | ' | ' | ' |
Recorded Investment, with no related allowance recorded | 0 | ' | 0 | ' | 0 |
Recorded Investment, with allowance recorded | 0 | ' | 0 | ' | 0 |
Impaired Financing Receivable, Specific Reserve [Abstract] | ' | ' | ' | ' | ' |
Specific Reserve, with no related allowance recorded | 0 | ' | 0 | ' | 0 |
Specific Reserve, with allowance recorded | 0 | ' | 0 | ' | 0 |
Impaired Financing Receivable, Adjusted Recorded Investment [Abstract] | ' | ' | ' | ' | ' |
Adjusted Recorded Investment, with no related allowance recorded | 0 | ' | 0 | ' | 0 |
Adjusted Recorded Investment, with allowance recorded | 0 | ' | 0 | ' | 0 |
Impaired Financing Receivable, Average Recorded Investment [Abstract] | ' | ' | ' | ' | ' |
YTD Average Recorded Investment, with no related allowance recorded | ' | ' | 0 | ' | 0 |
YTD Average Recorded Investment, with related allowance recorded | ' | ' | 0 | ' | 0 |
Impaired Financing Receivable, Interest Income, Accrual Method [Abstract] | ' | ' | ' | ' | ' |
YTD Interest Income Recognized, with no related allowance recorded | ' | ' | 0 | ' | 0 |
YTD Interest Income Recognized, with allowance recorded | ' | ' | 0 | ' | 0 |
Automobile | ' | ' | ' | ' | ' |
Impaired Financing Receivable, Unpaid Principal Balance [Abstract] | ' | ' | ' | ' | ' |
Unpaid Principal Balance, with no related allowance recorded | 0 | ' | 0 | ' | 0 |
Unpaid Principal Balance, with an allowance recorded | 0 | ' | 0 | ' | 0 |
Impaired Financing Receivable, Write-downs [Abstract] | ' | ' | ' | ' | ' |
Write-downs with no related allowance recorded | 0 | ' | 0 | ' | 0 |
Write-downs, with allowance recorded | 0 | ' | 0 | ' | 0 |
Impaired Financing Receivable, Recorded Investment [Abstract] | ' | ' | ' | ' | ' |
Recorded Investment, with no related allowance recorded | 0 | ' | 0 | ' | 0 |
Recorded Investment, with allowance recorded | 0 | ' | 0 | ' | 0 |
Impaired Financing Receivable, Specific Reserve [Abstract] | ' | ' | ' | ' | ' |
Specific Reserve, with no related allowance recorded | 0 | ' | 0 | ' | 0 |
Specific Reserve, with allowance recorded | 0 | ' | 0 | ' | 0 |
Impaired Financing Receivable, Adjusted Recorded Investment [Abstract] | ' | ' | ' | ' | ' |
Adjusted Recorded Investment, with no related allowance recorded | 0 | ' | 0 | ' | 0 |
Adjusted Recorded Investment, with allowance recorded | 0 | ' | 0 | ' | 0 |
Impaired Financing Receivable, Average Recorded Investment [Abstract] | ' | ' | ' | ' | ' |
YTD Average Recorded Investment, with no related allowance recorded | ' | ' | 0 | ' | 0 |
YTD Average Recorded Investment, with related allowance recorded | ' | ' | 0 | ' | 0 |
Impaired Financing Receivable, Interest Income, Accrual Method [Abstract] | ' | ' | ' | ' | ' |
YTD Interest Income Recognized, with no related allowance recorded | ' | ' | 0 | ' | 0 |
YTD Interest Income Recognized, with allowance recorded | ' | ' | 0 | ' | 0 |
Recreational | ' | ' | ' | ' | ' |
Impaired Financing Receivable, Unpaid Principal Balance [Abstract] | ' | ' | ' | ' | ' |
Unpaid Principal Balance, with no related allowance recorded | 0 | ' | 0 | ' | 0 |
Unpaid Principal Balance, with an allowance recorded | 0 | ' | 0 | ' | 0 |
Impaired Financing Receivable, Write-downs [Abstract] | ' | ' | ' | ' | ' |
Write-downs with no related allowance recorded | 0 | ' | 0 | ' | 0 |
Write-downs, with allowance recorded | 0 | ' | 0 | ' | 0 |
Impaired Financing Receivable, Recorded Investment [Abstract] | ' | ' | ' | ' | ' |
Recorded Investment, with no related allowance recorded | 0 | ' | 0 | ' | 0 |
Recorded Investment, with allowance recorded | 0 | ' | 0 | ' | 0 |
Impaired Financing Receivable, Specific Reserve [Abstract] | ' | ' | ' | ' | ' |
Specific Reserve, with no related allowance recorded | 0 | ' | 0 | ' | 0 |
Specific Reserve, with allowance recorded | 0 | ' | 0 | ' | 0 |
Impaired Financing Receivable, Adjusted Recorded Investment [Abstract] | ' | ' | ' | ' | ' |
Adjusted Recorded Investment, with no related allowance recorded | 0 | ' | 0 | ' | 0 |
Adjusted Recorded Investment, with allowance recorded | 0 | ' | 0 | ' | 0 |
Impaired Financing Receivable, Average Recorded Investment [Abstract] | ' | ' | ' | ' | ' |
YTD Average Recorded Investment, with no related allowance recorded | ' | ' | 0 | ' | 0 |
YTD Average Recorded Investment, with related allowance recorded | ' | ' | 0 | ' | 0 |
Impaired Financing Receivable, Interest Income, Accrual Method [Abstract] | ' | ' | ' | ' | ' |
YTD Interest Income Recognized, with no related allowance recorded | ' | ' | 0 | ' | 0 |
YTD Interest Income Recognized, with allowance recorded | ' | ' | 0 | ' | 0 |
Home improvement | ' | ' | ' | ' | ' |
Impaired Financing Receivable, Unpaid Principal Balance [Abstract] | ' | ' | ' | ' | ' |
Unpaid Principal Balance, with no related allowance recorded | 0 | ' | 0 | ' | 0 |
Unpaid Principal Balance, with an allowance recorded | 0 | ' | 0 | ' | 0 |
Impaired Financing Receivable, Write-downs [Abstract] | ' | ' | ' | ' | ' |
Write-downs with no related allowance recorded | 0 | ' | 0 | ' | 0 |
Write-downs, with allowance recorded | 0 | ' | 0 | ' | 0 |
Impaired Financing Receivable, Recorded Investment [Abstract] | ' | ' | ' | ' | ' |
Recorded Investment, with no related allowance recorded | 0 | ' | 0 | ' | 0 |
Recorded Investment, with allowance recorded | 0 | ' | 0 | ' | 0 |
Impaired Financing Receivable, Specific Reserve [Abstract] | ' | ' | ' | ' | ' |
Specific Reserve, with no related allowance recorded | 0 | ' | 0 | ' | 0 |
Specific Reserve, with allowance recorded | 0 | ' | 0 | ' | 0 |
Impaired Financing Receivable, Adjusted Recorded Investment [Abstract] | ' | ' | ' | ' | ' |
Adjusted Recorded Investment, with no related allowance recorded | 0 | ' | 0 | ' | 0 |
Adjusted Recorded Investment, with allowance recorded | 0 | ' | 0 | ' | 0 |
Impaired Financing Receivable, Average Recorded Investment [Abstract] | ' | ' | ' | ' | ' |
YTD Average Recorded Investment, with no related allowance recorded | ' | ' | 0 | ' | 0 |
YTD Average Recorded Investment, with related allowance recorded | ' | ' | 0 | ' | 0 |
Impaired Financing Receivable, Interest Income, Accrual Method [Abstract] | ' | ' | ' | ' | ' |
YTD Interest Income Recognized, with no related allowance recorded | ' | ' | 0 | ' | 0 |
YTD Interest Income Recognized, with allowance recorded | ' | ' | 0 | ' | 0 |
Other | ' | ' | ' | ' | ' |
Impaired Financing Receivable, Unpaid Principal Balance [Abstract] | ' | ' | ' | ' | ' |
Unpaid Principal Balance, with no related allowance recorded | 0 | ' | 0 | ' | 0 |
Unpaid Principal Balance, with an allowance recorded | 0 | ' | 0 | ' | 0 |
Impaired Financing Receivable, Write-downs [Abstract] | ' | ' | ' | ' | ' |
Write-downs with no related allowance recorded | 0 | ' | 0 | ' | 0 |
Write-downs, with allowance recorded | 0 | ' | 0 | ' | 0 |
Impaired Financing Receivable, Recorded Investment [Abstract] | ' | ' | ' | ' | ' |
Recorded Investment, with no related allowance recorded | 0 | ' | 0 | ' | 0 |
Recorded Investment, with allowance recorded | 0 | ' | 0 | ' | 0 |
Impaired Financing Receivable, Specific Reserve [Abstract] | ' | ' | ' | ' | ' |
Specific Reserve, with no related allowance recorded | 0 | ' | 0 | ' | 0 |
Specific Reserve, with allowance recorded | 0 | ' | 0 | ' | 0 |
Impaired Financing Receivable, Adjusted Recorded Investment [Abstract] | ' | ' | ' | ' | ' |
Adjusted Recorded Investment, with no related allowance recorded | 0 | ' | 0 | ' | 0 |
Adjusted Recorded Investment, with allowance recorded | 0 | ' | 0 | ' | 0 |
Impaired Financing Receivable, Average Recorded Investment [Abstract] | ' | ' | ' | ' | ' |
YTD Average Recorded Investment, with no related allowance recorded | ' | ' | 0 | ' | 0 |
YTD Average Recorded Investment, with related allowance recorded | ' | ' | 0 | ' | 0 |
Impaired Financing Receivable, Interest Income, Accrual Method [Abstract] | ' | ' | ' | ' | ' |
YTD Interest Income Recognized, with no related allowance recorded | ' | ' | 0 | ' | 0 |
YTD Interest Income Recognized, with allowance recorded | ' | ' | 0 | ' | 0 |
Commercial Business Loans | ' | ' | ' | ' | ' |
Impaired Financing Receivable, Unpaid Principal Balance [Abstract] | ' | ' | ' | ' | ' |
Unpaid Principal Balance, with no related allowance recorded | 166 | ' | 166 | ' | 241 |
Unpaid Principal Balance, with an allowance recorded | 81 | ' | 81 | ' | 67 |
Impaired Financing Receivable, Write-downs [Abstract] | ' | ' | ' | ' | ' |
Write-downs with no related allowance recorded | -72 | ' | -72 | ' | -111 |
Write-downs, with allowance recorded | -3 | ' | -3 | ' | -3 |
Impaired Financing Receivable, Recorded Investment [Abstract] | ' | ' | ' | ' | ' |
Recorded Investment, with no related allowance recorded | 94 | ' | 94 | ' | 130 |
Recorded Investment, with allowance recorded | 78 | ' | 78 | ' | 64 |
Impaired Financing Receivable, Specific Reserve [Abstract] | ' | ' | ' | ' | ' |
Specific Reserve, with no related allowance recorded | 0 | ' | 0 | ' | 0 |
Specific Reserve, with allowance recorded | -28 | ' | -28 | ' | -7 |
Impaired Financing Receivable, Adjusted Recorded Investment [Abstract] | ' | ' | ' | ' | ' |
Adjusted Recorded Investment, with no related allowance recorded | 94 | ' | 94 | ' | 130 |
Adjusted Recorded Investment, with allowance recorded | 50 | ' | 50 | ' | 57 |
Impaired Financing Receivable, Average Recorded Investment [Abstract] | ' | ' | ' | ' | ' |
YTD Average Recorded Investment, with no related allowance recorded | ' | ' | 94 | ' | 172 |
YTD Average Recorded Investment, with related allowance recorded | ' | ' | 68 | ' | 68 |
Impaired Financing Receivable, Interest Income, Accrual Method [Abstract] | ' | ' | ' | ' | ' |
YTD Interest Income Recognized, with no related allowance recorded | ' | ' | 0 | ' | 0 |
YTD Interest Income Recognized, with allowance recorded | ' | ' | $1 | ' | $5 |
Loans_Receivable_and_Allowance6
Loans Receivable and Allowance For Loan Losses (Schedule of Loans by Credit Quality Indicator) (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 |
In Thousands, unless otherwise specified | |||
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | $289,444 | $279,930 | $263,343 |
Pass | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 284,777 | 271,659 | ' |
Watch | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 790 | 3,322 | ' |
Special Mention | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 0 | 675 | ' |
Substandard | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 3,855 | 4,274 | ' |
Doubtful | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 0 | 0 | ' |
Loss | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 22 | 0 | ' |
REAL ESTATE LOANS | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 120,245 | 97,795 | ' |
REAL ESTATE LOANS | Pass | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 116,883 | 90,730 | ' |
REAL ESTATE LOANS | Watch | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 0 | 3,322 | ' |
REAL ESTATE LOANS | Special Mention | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 0 | 0 | ' |
REAL ESTATE LOANS | Substandard | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 3,362 | 3,743 | ' |
REAL ESTATE LOANS | Doubtful | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 0 | 0 | ' |
REAL ESTATE LOANS | Loss | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 0 | 0 | ' |
Commercial | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 37,327 | 33,250 | ' |
Commercial | Pass | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 35,187 | 29,145 | ' |
Commercial | Watch | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 0 | 3,322 | ' |
Commercial | Special Mention | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 0 | 0 | ' |
Commercial | Substandard | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 2,140 | 783 | ' |
Commercial | Doubtful | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 0 | 0 | ' |
Commercial | Loss | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 0 | 0 | ' |
Construction and development | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 43,088 | 31,893 | ' |
Construction and development | Pass | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 43,088 | 30,306 | ' |
Construction and development | Watch | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 0 | 0 | ' |
Construction and development | Special Mention | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 0 | 0 | ' |
Construction and development | Substandard | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 0 | 1,587 | ' |
Construction and development | Doubtful | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 0 | 0 | ' |
Construction and development | Loss | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 0 | 0 | ' |
Home equity | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 16,253 | 15,474 | ' |
Home equity | Pass | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 16,139 | 15,226 | ' |
Home equity | Watch | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 0 | 0 | ' |
Home equity | Special Mention | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 0 | 0 | ' |
Home equity | Substandard | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 114 | 248 | ' |
Home equity | Doubtful | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 0 | 0 | ' |
Home equity | Loss | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 0 | 0 | ' |
One-to-four-family | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 18,854 | 13,976 | ' |
One-to-four-family | Pass | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 17,746 | 12,851 | ' |
One-to-four-family | Watch | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 0 | 0 | ' |
One-to-four-family | Special Mention | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 0 | 0 | ' |
One-to-four-family | Substandard | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 1,108 | 1,125 | ' |
One-to-four-family | Doubtful | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 0 | 0 | ' |
One-to-four-family | Loss | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 0 | 0 | ' |
Multi-family | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 4,723 | 3,202 | ' |
Multi-family | Pass | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 4,723 | 3,202 | ' |
Multi-family | Watch | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 0 | 0 | ' |
Multi-family | Special Mention | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 0 | 0 | ' |
Multi-family | Substandard | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 0 | 0 | ' |
Multi-family | Doubtful | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 0 | 0 | ' |
Multi-family | Loss | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 0 | 0 | ' |
CONSUMER LOANS | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 124,080 | 108,670 | 118,166 |
CONSUMER LOANS | Pass | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 123,737 | 108,333 | ' |
CONSUMER LOANS | Watch | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 0 | 0 | ' |
CONSUMER LOANS | Special Mention | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 0 | 0 | ' |
CONSUMER LOANS | Substandard | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 343 | 337 | ' |
CONSUMER LOANS | Doubtful | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 0 | 0 | ' |
CONSUMER LOANS | Loss | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | ' | 0 | ' |
Indirect home improvement | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 99,838 | 86,249 | ' |
Indirect home improvement | Pass | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 99,497 | 85,954 | ' |
Indirect home improvement | Watch | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 0 | 0 | ' |
Indirect home improvement | Special Mention | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 0 | 0 | ' |
Indirect home improvement | Substandard | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 341 | 295 | ' |
Indirect home improvement | Doubtful | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 0 | 0 | ' |
Indirect home improvement | Loss | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 0 | 0 | ' |
Marine | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 20,631 | 17,226 | ' |
Marine | Pass | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 20,631 | 17,226 | ' |
Marine | Watch | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 0 | 0 | ' |
Marine | Special Mention | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 0 | 0 | ' |
Marine | Substandard | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 0 | 0 | ' |
Marine | Doubtful | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 0 | 0 | ' |
Marine | Loss | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 0 | 0 | ' |
Automobile | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 1,222 | 2,416 | ' |
Automobile | Pass | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 1,220 | 2,406 | ' |
Automobile | Watch | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 0 | 0 | ' |
Automobile | Special Mention | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 0 | 0 | ' |
Automobile | Substandard | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 2 | 10 | ' |
Automobile | Doubtful | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 0 | 0 | ' |
Automobile | Loss | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 0 | 0 | ' |
Recreational | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 584 | 742 | ' |
Recreational | Pass | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 584 | 742 | ' |
Recreational | Watch | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 0 | 0 | ' |
Recreational | Special Mention | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 0 | 0 | ' |
Recreational | Substandard | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 0 | 0 | ' |
Recreational | Doubtful | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 0 | 0 | ' |
Recreational | Loss | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 0 | 0 | ' |
Home improvement | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 495 | 651 | ' |
Home improvement | Pass | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 495 | 619 | ' |
Home improvement | Watch | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 0 | 0 | ' |
Home improvement | Special Mention | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 0 | 0 | ' |
Home improvement | Substandard | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 0 | 32 | ' |
Home improvement | Doubtful | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 0 | 0 | ' |
Home improvement | Loss | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 0 | 0 | ' |
Other | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 1,310 | 1,386 | ' |
Other | Pass | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 1,310 | 1,386 | ' |
Other | Watch | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 0 | 0 | ' |
Other | Special Mention | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 0 | 0 | ' |
Other | Substandard | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 0 | 0 | ' |
Other | Doubtful | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 0 | 0 | ' |
Other | Loss | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 0 | 0 | ' |
Commercial Business Loans | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 45,119 | 73,465 | 61,488 |
Commercial Business Loans | Pass | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 44,157 | 72,596 | ' |
Commercial Business Loans | Watch | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 790 | 0 | ' |
Commercial Business Loans | Special Mention | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 0 | 675 | ' |
Commercial Business Loans | Substandard | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 150 | 194 | ' |
Commercial Business Loans | Doubtful | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | 0 | 0 | ' |
Commercial Business Loans | Loss | ' | ' | ' |
Financing Receivable, Recorded Investment [Line Items] | ' | ' | ' |
Total loans | $22 | $0 | ' |
Loans_Receivable_and_Allowance7
Loans Receivable and Allowance For Loan Losses (Schedule of Troubled Debt Restructurings Accrual and Non-accrual) (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
In Thousands, unless otherwise specified | commitment | loan | Accruing Financing Receivables [Member] | Accruing Financing Receivables [Member] | Non Accrual Financing Receivables | Non Accrual Financing Receivables | Commercial Business Loans | Commercial Business Loans | Commercial Business Loans | Commercial Business Loans | Commercial Business Loans | Commercial Business Loans | |
loan | loan | loan | loan | Accruing Financing Receivables [Member] | Accruing Financing Receivables [Member] | Accruing Financing Receivables [Member] | Accruing Financing Receivables [Member] | ||||||
loan | loan | loan | loan | ||||||||||
Financing Receivable, Modifications [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Financing Receivable, Modifications, Number of Contracts | ' | ' | ' | 5 | 3 | 1 | 3 | ' | ' | ' | ' | ' | ' |
Financing Receivable, Number of Contracts, Modifications | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 1 | 1 |
Financing Receivable, Modifications, Post Modification Recorded Investment2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0 | $0 | $35 | $70 |
Number of commitments to lend additional funds on impaired loans. | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of TDR contracts, subsequently defaulted | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Troubled Debt Restructured Loans Summary [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loans still on accrual | ' | ' | ' | 2,353 | 2,368 | ' | ' | ' | ' | ' | ' | ' | ' |
Loans on non-accural | 1,524 | 1,906 | ' | ' | ' | 44 | 892 | 116 | 194 | ' | ' | ' | ' |
Total troubled debt restructured loans | 2,397 | 3,260 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loans Classified as Troubled Debt Restructuring, During Current Period [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase in the Allowance | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | 7 |
Financing Receivable, Allowance for Credit Losses, Write-offs, TDR | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0 | $0 | $35 | $2 |
Loans_Receivable_and_Allowance8
Loans Receivable and Allowance For Loan Losses (Narrative) (Details) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' | ' |
Impaired Financing Receivable, Average Recorded Investment | $3,500 | ' | $3,548 | $3,800 | $4,033 |
Financing Receivable, Modifications, Recorded Investment Pre-Modification, Loans | 0 | ' | ' | ' | ' |
Impaired Financing Receivable, Interest Income, Accrual Method | $28 | $96 | $108 | $100 | $113 |
Servicing_Rights_Policy_Detail
Servicing Rights Policy (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Mortgage, Commercial and Consumer Servicing RIghts [Member] | Mortgage servicing rights | |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' | ' |
The unpaid principal balances of mortgage loans serviced | $230,000,000 | $130,500,000 |
Fair market value of the mortgage servicing rightsb asset | $2,300,000 | $1,100,000 |
Schedule_of_Servicing_Rights_D
Schedule of Servicing Rights (Details) (Carrying Amount, USD $) | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2012 | Sep. 30, 2012 | Jun. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 |
Mortgage servicing rights | Mortgage servicing rights | Mortgage servicing rights | Mortgage servicing rights | Mortgage, Commercial and Consumer Servicing RIghts [Member] | Mortgage, Commercial and Consumer Servicing RIghts [Member] | |
Fair Value Disclosure, Off-balance Sheet Risks, Amount, Asset [Roll Forward] | ' | ' | ' | ' | ' | ' |
Beginning balance | $425 | $200 | $1,785 | $1,064 | ' | ' |
Additions | 327 | 596 | ' | ' | 350 | 1,141 |
Mortgage servicing rights amortized | -36 | -83 | ' | ' | -110 | -280 |
(Impairment) recovery of loss on servicing rights | -108 | -105 | ' | ' | 2 | 102 |
Ending balance | $608 | $608 | $1,785 | $1,064 | $2,027 | $2,027 |
Derivatives_Details
Derivatives (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
Derivative [Line Items] | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) Recognized in Income, Net | $42,000 | $0 | $1,400,000 | $0 |
Interest Rate Lock Commitments | ' | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' | ' |
Notional amount of interest rate derivatives | 17,000,000 | ' | 17,000,000 | ' |
Fair value of interest rate derivatives | 642,000 | ' | 642,000 | ' |
Best Effort Forward Commitments | ' | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' | ' |
Notional amount of other derivatives, not designated as hedging instruments | 4,400,000 | ' | 4,400,000 | ' |
Derivative Instruments Not Designated as Hedging Instruments, Asset, at Fair Value | -53,000 | ' | -53,000 | ' |
Forward TBA Mortgage Backed Securities | ' | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' | ' |
Notional amount of other derivatives, not designated as hedging instruments | 19,500,000 | ' | 19,500,000 | ' |
Fair value of other derivatives, not designated as hedging instruments | -398,000 | ' | -398,000 | ' |
Mortgage-backed Securities, Investor Paired Off Forward Sales [Member] | ' | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' | ' |
Notional amount of other derivatives, not designated as hedging instruments | 11,000,000 | ' | 11,000,000 | ' |
Derivative Instruments Not Designated as Hedging Instruments, Asset, at Fair Value | $13,000 | ' | $13,000 | ' |
Other_Real_Estate_Owned_Schedu
Other Real Estate Owned (Schedule) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Other Real Estate [Roll Forward] | ' | ' | ' | ' |
Beginning balance | $1,805 | $2,950 | $2,127 | $4,589 |
Other Real Estate Owned Additions | 605 | 0 | 642 | 921 |
Fair value write-downs | -151 | -99 | -347 | -693 |
Other Real Estate Owned Disposition of Assets | 0 | -530 | -163 | -2,496 |
Ending balance | $2,259 | $2,321 | $2,259 | $2,321 |
Other_Real_Estate_Owned_Narrat
Other Real Estate Owned (Narrative) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Jun. 30, 2013 | Dec. 31, 2012 | Jun. 30, 2012 | Dec. 31, 2011 |
property | property | |||||||
Real Estate Properties [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Number of other real estate owned properties | 5 | ' | 5 | ' | ' | ' | ' | ' |
Other Real Estate, Foreclosed Assets, and Repossessed Assets | $2,259 | $2,321 | $2,259 | $2,321 | $1,805 | $2,127 | $2,950 | $4,589 |
Gains (Losses) on Sales of Other Real Estate | 0 | 0 | 0 | 35 | ' | ' | ' | ' |
Other real estate owned holding costs | 41 | 57 | 79 | 155 | ' | ' | ' | ' |
Minimum | ' | ' | ' | ' | ' | ' | ' | ' |
Real Estate Properties [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Other Real Estate, Foreclosed Assets, and Repossessed Assets | 36 | ' | 36 | ' | ' | ' | ' | ' |
Maximum | ' | ' | ' | ' | ' | ' | ' | ' |
Real Estate Properties [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Other Real Estate, Foreclosed Assets, and Repossessed Assets | $797 | ' | $797 | ' | ' | ' | ' | ' |
Deposits_Schedule_of_Deposit_L
Deposits (Schedule of Deposit Liabilities) (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | ||
In Thousands, unless otherwise specified | ||||
Banking and Thrift [Abstract] | ' | ' | ||
Interest-bearing checking | $27,836 | $24,348 | ||
Noninterest-bearing checking | 42,579 | 34,165 | ||
Savings | 14,821 | 11,812 | ||
Money market | 115,652 | 114,246 | ||
Certificates of deposits of less than $100,000(1) | 42,893 | [1] | 40,119 | [1] |
Certificates of deposits of $100,000 through $250,000 | 48,722 | 43,810 | ||
Certificates of deposits of more than $250,000 | 24,365 | 20,449 | ||
Total deposits | 316,868 | 288,949 | ||
Interest-bearing Domestic Deposit, Brokered | $16,900 | $13,900 | ||
[1] | Includes $16.9 million and $13.9 million of brokered deposits as of September 30, 2013 and December 31, 2012, respectively. |
Deposits_Schedule_of_Maturitie
Deposits (Schedule of Maturities of Time Deposits for Future Periods) (Details) (USD $) | Sep. 30, 2013 |
In Thousands, unless otherwise specified | |
Banking and Thrift [Abstract] | ' |
2013 | $15,605 |
2014 | 47,961 |
2015 | 34,953 |
2016 | 8,768 |
2017 | 5,007 |
Thereafter | 3,686 |
Total | $115,980 |
Deposits_Securities_Pledged_as
Deposits (Securities Pledged as Collateral Policy) (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
security | ||
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ' | ' |
Number of securities pledged (in securities) | 2 | ' |
Securities pledged as collateral for public deposits | $1,200,000 | ' |
Federal Reserve. cash and Federal Reserve Bank deposits | 1,400,000 | 1,300,000 |
Washington State [Member] | ' | ' |
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ' | ' |
Washington State Public Deposit | 250,000 | ' |
Washington State [Member] | Uninsured [Member] | ' | ' |
Federal Home Loan Bank, Advances, Branch of FHLB Bank [Line Items] | ' | ' |
collateral requirement | $117,000 | ' |
Deposits_Schedule_of_Interest_
Deposits (Schedule of Interest Expense by Deposit Category) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Banking and Thrift [Abstract] | ' | ' | ' | ' |
Interest-bearing checking | $9 | $11 | $25 | $41 |
Savings and money market | 138 | 136 | 396 | 447 |
Certificates of deposit | 355 | 396 | 1,017 | 1,227 |
Total | $502 | $543 | $1,438 | $1,715 |
Income_Taxes_Narrative_Details
Income Taxes (Narrative) (Details) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2028 |
Income Tax Disclosure [Abstract] | ' | ' | ' | ' | ' |
Provision for income taxes | $581 | ($2,323) | $1,772 | ($2,323) | ' |
Current Income Tax Expense (Benefit) | ' | ' | ' | 2,300 | ' |
Operating loss carryforwards | 963 | ' | 963 | ' | ' |
Operating Loss Carryforwards, Expiration Dates | ' | ' | ' | ' | '2028 |
Uncertain tax liabilities | 0 | 0 | 0 | 0 | ' |
Recognized interest and penalties | ' | ' | $0 | $0 | ' |
Commitments_and_Contingencies_1
Commitments and Contingencies Schedule of Commitments to Extend Credit (Details) (Commitments to Extend Credit, USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' | ' |
Bank commitments | $130,146 | $109,647 |
REAL ESTATE LOANS | ' | ' |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' | ' |
Bank commitments | 65,321 | 61,829 |
Construction and development | ' | ' |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' | ' |
Bank commitments | 29,462 | 27,347 |
One-to-four-family | ' | ' |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' | ' |
Bank commitments | 24,154 | 19,313 |
Home equity | ' | ' |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' | ' |
Bank commitments | 11,187 | 11,928 |
Commercial/Multi-family | ' | ' |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' | ' |
Bank commitments | 518 | 3,241 |
CONSUMER LOANS | ' | ' |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' | ' |
Bank commitments | 6,594 | 6,793 |
Indirect home improvement | ' | ' |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' | ' |
Bank commitments | 388 | 568 |
Other | ' | ' |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' | ' |
Bank commitments | 6,206 | 6,225 |
Commercial Business Loans | ' | ' |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' | ' |
Bank commitments | $58,231 | $41,025 |
Commitments_and_Contingencies_2
Commitments and Contingencies Narratives (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | |
Maximum | Commitments to Extend Credit | Commitments to Extend Credit | Guarantee on loans sold | |||
Loss Contingencies [Line Items] | ' | ' | ' | ' | ' | ' |
Reserve for estimated losses | ' | ' | ' | $58,000 | $49,000 | $159,000 |
Severance agreement, period of base compensation disbursed as lump sum payment (in months) | ' | '24 months | ' | ' | ' | ' |
Change of control agreement, notice required to cancel agreement (in months) | ' | '24 months | ' | ' | ' | ' |
Change of control agreement, executive payment, period prior to change in control (in months) | ' | ' | '6 months | ' | ' | ' |
Change of control agreement, executive payment, period following change in control (in months) | ' | ' | '12 months | ' | ' | ' |
Change of control agreement, period of base compensation disbursed as lump sum payment (in months) | ' | '12 months | ' | ' | ' | ' |
Unpaid principal balance on consumer loan portfolio sold | 5,200,000 | 5,200,000 | ' | ' | ' | ' |
Provision for loan losses expensed | $42,000 | ' | ' | ' | ' | ' |
Regulatory_Capital_Policy_Deta
Regulatory Capital Policy (Details) (Bank) | Sep. 30, 2013 | Dec. 31, 2012 |
Bank | ' | ' |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' | ' |
Tier 1 Leverage-Based Capital Ratio | 12.74% | 13.26% |
Tier 1 Risk- Based Capital Ratio | 15.61% | 14.75% |
Total Risk-Based Capital ratios | 16.86% | 16.00% |
Schedule_of_Compliance_with_Re
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations (Details) (Bank, USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Bank | ' | ' |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' | ' |
Total Risk-Based Capital | $54,521 | $50,591 |
Total Risk-Based Capital ratios | 16.86% | 16.00% |
Capital Required for Capital Adequacy | 25,868 | 25,294 |
Capital Required for Capital Adequacy to Risk Weighted Assets | 8.00% | 8.00% |
Capital Required to be Well Capitalized | 32,335 | 31,617 |
Capital Required to be Well Capitalized to Risk Weighted Assets | 10.00% | 10.00% |
Tier One Risk Based Capital | 50,460 | 46,627 |
Tier 1 Risk- Based Capital Ratio | 15.61% | 14.75% |
Tier One Risk Based Capital Required for Capital Adequacy | 12,934 | 12,647 |
Tier One Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets | 4.00% | 4.00% |
Tier One Risk Based Capital Required to be Well Capitalized | 19,401 | 18,970 |
Tier One Risk Based Capital Required to be Well Capitalized to Risk Weighted Assets | 6.00% | 6.00% |
Tier One Leverage Capital | 50,460 | 46,627 |
Tier 1 Leverage-Based Capital Ratio | 12.74% | 13.26% |
Tier One Leverage Capital Required for Capital Adequacy | 15,840 | 14,066 |
Tier One Leverage Capital Required for Capital Adequacy to Average Assets | 4.00% | 4.00% |
Tier One Leverage Capital Required to be Well Capitalized | $19,800 | $17,583 |
Tier One Leverage Capital Required to be Well Capitalized to Average Assets | 5.00% | 5.00% |
Schedule_of_Regulatory_Capital
Schedule of Regulatory Capital Level Differences from Total Capital (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' | ' |
Equity | $62,234 | $59,897 |
Bank | ' | ' |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' | ' |
Equity | 50,182 | 47,836 |
Unrealized loss (gain) on securities available-for-sale | 481 | -597 |
Disallowed deferred tax assets | 0 | -506 |
Disallowed servicing assets | -203 | -106 |
Total Tier 1 capital | 50,460 | 46,627 |
Allowance for loan and lease losses for regulatory capital purposes | 4,061 | 3,964 |
Total risk-based capital | 54,521 | 50,591 |
Company | ' | ' |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' | ' |
Equity | 62,234 | 59,897 |
Unrealized loss (gain) on securities available-for-sale | 481 | -597 |
Disallowed deferred tax assets | 0 | -506 |
Disallowed servicing assets | -203 | -106 |
Total Tier 1 capital | 62,512 | 58,688 |
Allowance for loan and lease losses for regulatory capital purposes | 4,061 | 3,964 |
Total risk-based capital | $66,573 | $62,652 |
Regulatory_Capital_Ratios_Poli
Regulatory Capital Ratios Policy (Details) (Company) | Sep. 30, 2013 |
Company | ' |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' |
Tier One Leverage Capital to Average Assets | 15.90% |
Tier 1 Risk- Based Capital Ratio | 19.30% |
Capital to Risk Weighted Assets | 20.60% |
Fair_Value_of_Financial_Instru2
Fair Value of Financial Instruments Schedule of Available for Sale Securities Measured at Fair Value on a Recurring Basis (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Securities available-for-sale | $47,131 | $43,313 |
Fair Value, Measurements, Recurring | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Securities available-for-sale | 47,131 | 43,313 |
Fair Value, Measurements, Recurring | Federal agency securities | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Securities available-for-sale | 9,374 | 12,552 |
Fair Value, Measurements, Recurring | Municipal bonds | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Securities available-for-sale | 10,450 | 9,060 |
Fair Value, Measurements, Recurring | Corporate securities | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Securities available-for-sale | 3,463 | 2,488 |
Fair Value, Measurements, Recurring | Mortgage-backed securities | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Securities available-for-sale | 23,844 | 19,213 |
Fair Value, Measurements, Recurring | Level 1 | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Securities available-for-sale | 0 | 0 |
Fair Value, Measurements, Recurring | Level 1 | Federal agency securities | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Securities available-for-sale | 0 | 0 |
Fair Value, Measurements, Recurring | Level 1 | Municipal bonds | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Securities available-for-sale | 0 | 0 |
Fair Value, Measurements, Recurring | Level 1 | Corporate securities | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Securities available-for-sale | 0 | 0 |
Fair Value, Measurements, Recurring | Level 1 | Mortgage-backed securities | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Securities available-for-sale | 0 | 0 |
Fair Value, Measurements, Recurring | Level 2 | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Securities available-for-sale | 47,131 | 43,313 |
Fair Value, Measurements, Recurring | Level 2 | Federal agency securities | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Securities available-for-sale | 9,374 | 12,552 |
Fair Value, Measurements, Recurring | Level 2 | Municipal bonds | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Securities available-for-sale | 10,450 | 9,060 |
Fair Value, Measurements, Recurring | Level 2 | Corporate securities | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Securities available-for-sale | 3,463 | 2,488 |
Fair Value, Measurements, Recurring | Level 2 | Mortgage-backed securities | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Securities available-for-sale | 23,844 | 19,213 |
Fair Value, Measurements, Recurring | Level 3 | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Securities available-for-sale | 0 | 0 |
Fair Value, Measurements, Recurring | Level 3 | Federal agency securities | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Securities available-for-sale | 0 | 0 |
Fair Value, Measurements, Recurring | Level 3 | Municipal bonds | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Securities available-for-sale | 0 | 0 |
Fair Value, Measurements, Recurring | Level 3 | Corporate securities | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Securities available-for-sale | 0 | 0 |
Fair Value, Measurements, Recurring | Level 3 | Mortgage-backed securities | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Securities available-for-sale | $0 | $0 |
Fair_Value_of_Financial_Instru3
Fair Value of Financial Instruments Schedule of Interest Rate Lock Commitments Measured at Fair Value on Recurring Basis (Details) (Interest Rate Lock Commitments, USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Interest rate derivatives, fair value | $642 | ' |
Fair Value, Measurements, Recurring | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Interest rate derivatives, fair value | 642 | 45 |
Fair Value, Measurements, Recurring | Level 1 | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Interest rate derivatives, fair value | 0 | 0 |
Fair Value, Measurements, Recurring | Level 2 | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Interest rate derivatives, fair value | 0 | 0 |
Fair Value, Measurements, Recurring | Level 3 | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Interest rate derivatives, fair value | $642 | $45 |
Fair_Value_of_Financial_Instru4
Fair Value of Financial Instruments Forward Sale Commitments with Investors (Details) (Fair Value, Measurements, Recurring, USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Forward Sale Commitments with Investors | ($451) | $48 |
Fair Value, Inputs, Level 1 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Forward Sale Commitments with Investors | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Forward Sale Commitments with Investors | -398 | 0 |
Level 3 | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Forward Sale Commitments with Investors | ($53) | $48 |
Fair_Value_of_Financial_Instru5
Fair Value of Financial Instruments Paired Off Commitments with Investors (Details) (Fair Value, Measurements, Recurring, USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Paired Off Commitments with Investors | $13 | $0 |
Fair Value, Inputs, Level 3 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Paired Off Commitments with Investors | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Paired Off Commitments with Investors | 13 | 0 |
Level 1 | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Paired Off Commitments with Investors | $0 | $0 |
Fair_Value_of_Financial_Instru6
Fair Value of Financial Instruments Schedule of Valuation Allowance for Impairment of Recognized Servicing Assets (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Fair Value, Measurements, Nonrecurring | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans, fair value disclosure | $3,509 | $3,800 |
Fair Value, Measurements, Nonrecurring | Level 1 | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans, fair value disclosure | 0 | 0 |
Fair Value, Measurements, Nonrecurring | Level 2 | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans, fair value disclosure | 0 | 0 |
Fair Value, Measurements, Nonrecurring | Level 3 | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Impaired loans, fair value disclosure | 3,509 | 3,800 |
Valuation Allowance on Impaired Loans | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total Impairment | ($331) | ($125) |
Fair_Value_of_Financial_Instru7
Fair Value of Financial Instruments Schedule of Other Real Estate Owned and Repossessed Assets Measured at Fair Value on Nonrecurring Basis (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total Impairment | ($347) | ($812) |
Fair Value, Measurements, Nonrecurring | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Other real estate owned and repossessed assets, fair value disclosure | 2,259 | 2,127 |
Fair Value, Measurements, Nonrecurring | Level 1 | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Other real estate owned and repossessed assets, fair value disclosure | 0 | 0 |
Fair Value, Measurements, Nonrecurring | Level 2 | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Other real estate owned and repossessed assets, fair value disclosure | 0 | 0 |
Fair Value, Measurements, Nonrecurring | Level 3 | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Other real estate owned and repossessed assets, fair value disclosure | $2,259 | $2,127 |
Fair_Value_of_Financial_Instru8
Fair Value of Financial Instruments Schedule of Servicing Rights Measured at Fair Value on Nonrecurring Basis (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Total Impairment/ (Recovery) | ($102) | $112 |
Fair Value, Measurements, Nonrecurring | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Mortgage servicing rights, fair value | 2,027 | 1,064 |
Fair Value, Measurements, Nonrecurring | Level 1 | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Mortgage servicing rights, fair value | 0 | 0 |
Fair Value, Measurements, Nonrecurring | Level 2 | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Mortgage servicing rights, fair value | 0 | 0 |
Fair Value, Measurements, Nonrecurring | Level 3 | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Mortgage servicing rights, fair value | $2,027 | $1,064 |
Fair_Value_of_Financial_Instru9
Fair Value of Financial Instruments Discount Rate (Details) (Level 3) | 9 Months Ended |
Sep. 30, 2013 | |
Impaired Loans | Fair Value of Underlying Collateral | Maximum | Fair Value, Measurements, Nonrecurring | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' |
Fair value inputs, discount applied to the obtained appraisal | 10.00% |
Impaired Loans | Fair Value of Underlying Collateral | Weighted Average | Fair Value, Measurements, Nonrecurring | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' |
Fair value inputs, discount applied to the obtained appraisal | 9.50% |
Impaired Loans | Fair Value of Underlying Collateral | Minimum | Fair Value, Measurements, Nonrecurring | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' |
Fair value inputs, discount applied to the obtained appraisal | 0.00% |
OREO and Repossessed Assets | Fair Value of Collateral | Maximum | Fair Value, Measurements, Nonrecurring | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' |
Fair value inputs, discount applied to the obtained appraisal | 19.00% |
OREO and Repossessed Assets | Fair Value of Collateral | Weighted Average | Fair Value, Measurements, Nonrecurring | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' |
Fair value inputs, discount applied to the obtained appraisal | 14.90% |
OREO and Repossessed Assets | Fair Value of Collateral | Minimum | Fair Value, Measurements, Nonrecurring | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' |
Fair value inputs, discount applied to the obtained appraisal | 9.00% |
Mortgage servicing rights | Discounted Cash Flow | Maximum | Fair Value, Measurements, Nonrecurring | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' |
Fair value inputs, discount applied to the obtained appraisal | 10.50% |
Mortgage servicing rights | Discounted Cash Flow | Weighted Average | Fair Value, Measurements, Nonrecurring | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' |
Fair value inputs, discount applied to the obtained appraisal | 7.50% |
Mortgage servicing rights | Discounted Cash Flow | Minimum | Fair Value, Measurements, Nonrecurring | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' |
Fair value inputs, discount applied to the obtained appraisal | 7.50% |
Interest Rate Lock Commitments | Quoted Market Prices | Maximum | Fair Value, Measurements, Recurring | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' |
Fair value inputs, discount applied to the obtained appraisal | 99.00% |
Interest Rate Lock Commitments | Quoted Market Prices | Weighted Average | Fair Value, Measurements, Recurring | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' |
Fair value inputs, discount applied to the obtained appraisal | 90.00% |
Interest Rate Lock Commitments | Quoted Market Prices | Minimum | Fair Value, Measurements, Recurring | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' |
Fair value inputs, discount applied to the obtained appraisal | 80.00% |
Forward Contracts [Member] | Quoted Market Prices | Maximum | Fair Value, Measurements, Recurring | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' |
Fair value inputs, discount applied to the obtained appraisal | 99.00% |
Forward Contracts [Member] | Quoted Market Prices | Weighted Average | Fair Value, Measurements, Recurring | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' |
Fair value inputs, discount applied to the obtained appraisal | 90.00% |
Forward Contracts [Member] | Quoted Market Prices | Minimum | Fair Value, Measurements, Recurring | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' |
Fair Value Inputs, Forward Sale Commitments with Investors | 80.00% |
Recovered_Sheet1
Fair Value of Financial Instruments Fair Value By Balance Sheet Grouping (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Securities available-for-sale | $47,131 | $43,313 |
Financial Instruments, Assets [Member] | Carrying Amount | Level 1 | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Cash, Due from Banks, and Interest-Bearing Deposits at Other Financial Institutions, Fair Value Disclosure | 27,340 | 9,413 |
Financial Instruments, Assets [Member] | Carrying Amount | Level 2 | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Securities available-for-sale | 47,131 | 43,313 |
Loans held for sale | 8,389 | 8,870 |
Federal Home Loan Bank stock | 1,717 | 1,765 |
Accrued interest receivable | 1,333 | 1,223 |
Forward sale commitments with investors | 0 | 0 |
Paired Off Commitments with Investors | 13 | 0 |
Financial Instruments, Assets [Member] | Carrying Amount | Level 3 | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Forward sale commitments with investors | 0 | 54 |
Loans receivable, net | 283,794 | 274,949 |
Mortgage, Commercial and Consumer Servicing Rights, Fair Value Disclosure | 2,027 | 1,064 |
Forward Sales Commitment with Investors, Liability, Fair Value Disclosure | 398 | 0 |
Fair value interest rate locks with customers | 642 | 79 |
Financial Instruments, Assets [Member] | Fair Value | Level 1 | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Cash, Due from Banks, and Interest-Bearing Deposits at Other Financial Institutions, Fair Value Disclosure | 27,340 | 9,413 |
Financial Instruments, Assets [Member] | Fair Value | Level 2 | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Securities available-for-sale | 47,131 | 43,313 |
Loans held for sale | 8,389 | 8,870 |
Federal Home Loan Bank stock | 1,717 | 1,765 |
Accrued interest receivable | 1,333 | 1,223 |
Forward sale commitments with investors | 0 | 0 |
Paired Off Commitments with Investors | 13 | 0 |
Financial Instruments, Assets [Member] | Fair Value | Level 3 | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Forward sale commitments with investors | 0 | 54 |
Loans receivable, net | 311,705 | 306,695 |
Mortgage, Commercial and Consumer Servicing Rights, Fair Value Disclosure | 2,297 | 1,064 |
Forward Sales Commitment with Investors, Liability, Fair Value Disclosure | 398 | 0 |
Fair value interest rate locks with customers | 642 | 79 |
Financial Instruments, Liabilities [Member] | Carrying Amount | Level 2 | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Deposits | 316,868 | 288,949 |
Borrowings | 13,664 | 6,840 |
Accrued interest payable | 18 | 12 |
Financial Instruments, Liabilities [Member] | Carrying Amount | Level 3 | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Forward sale commitments with investors | 53 | 6 |
Fair value interest rate locks with customers | 0 | 34 |
Financial Instruments, Liabilities [Member] | Fair Value | Level 2 | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Deposits | 330,964 | 304,257 |
Borrowings | 13,614 | 7,059 |
Accrued interest payable | 18 | 12 |
Financial Instruments, Liabilities [Member] | Fair Value | Level 3 | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Forward sale commitments with investors | 53 | 6 |
Fair value interest rate locks with customers | $0 | $34 |
Employee_Benefits_Details
Employee Benefits (Details) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Jul. 09, 2012 | |
Compensation and Retirement Disclosure [Abstract] | ' | ' | ' | ' | ' |
Employee stock ownership plan (ESOP), requisite service period and 12 months | ' | '1000 hours | ' | ' | ' |
Employee stock ownership plan (ESOP), debt structure, employer loan, amount | ' | ' | ' | ' | $2,600,000 |
Employee stock ownership plan shares purchased | 259,210 | ' | ' | ' | ' |
Employee stock ownership plan (ESOP), weighted average purchase price of shares purchased | $10.17 | ' | ' | ' | ' |
Amortization period of ESOP loan | '10 years | ' | ' | ' | ' |
Employee stock ownership plan (ESOP), debt structure, employer loan, interest rate | 2.30% | ' | ' | ' | ' |
Employee stock ownership plan (ESOP), periodic installment payments from esop, amount paid | ' | 0 | ' | 267,000 | ' |
Employee stock ownership plan (ESOP), interest payments from esop | ' | 0 | ' | 28,000 | ' |
Employee stock ownership plan (ESOP), compensation expense | ' | $333,000 | $83,000 | ' | ' |
Schedule_of_Shares_Under_ESOP_
(Schedule of Shares Under ESOP) (Details) (USD $) | Sep. 30, 2013 | Jul. 09, 2012 |
In Thousands, except Share data, unless otherwise specified | ||
Employee Stock Ownership Plan (ESOP), Shares in ESOP [Abstract] | ' | ' |
Allocated shares | 25,921 | ' |
Unallocated shares | 19,441 | ' |
Employee Stock Ownership Plan (ESOP), Number of Suspense Shares | 213,848 | ' |
Total ESOP shares | 259,210 | 259,210 |
Fair value of unallocated shares (in thousands) | $3,661 | ' |
Earnings_Per_Share_Schedule_of
Earnings Per Share (Schedule of Earnings Per Share, Basic and Diluted) (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
Earnings Per Share [Abstract] | ' | ' | ' | ' | |
Net income | $1,062 | $3,325 | $3,383 | $4,223 | |
Denominator for basic earnings per share- weighted average common shares outstanding (shares) | 3,026,277 | 3,240,125 | 3,026,277 | ' | [1] |
Denominator for diluted earnings per share- weighted average common shares outstanding (shares) | 3,026,277 | 3,240,125 | 3,026,277 | ' | [1] |
Basic earnings per share | $0.35 | $1.03 | $1.12 | ' | [1],[2] |
Diluted earnings per share | $0.35 | $1.03 | $1.12 | ' | [1],[2] |
Shares purchased for award under the ESOP | ' | 259,210 | ' | ' | |
Shares in ESOP that were non committed to be released | ' | ' | 213,848 | ' | |
[1] | Earnings per share and share calculations are not available (n/a) as the Company completed its stock conversion and became a public company on July 9, 2012. | ||||
[2] | Earnings per share calculations are not available (n/a) as the Company completed its stock conversion and became a public company on July 9, 2012. |
Earnings_Per_Share_Equity_Plan
Earnings Per Share Equity Plan (Details) | 3 Months Ended | |
Sep. 30, 2013 | Sep. 18, 2013 | |
Earnings Per Share [Abstract] | ' | ' |
Equity Plan Restricted Stock Awards | ' | 4.00% |
Equity Plan Restricted Stock Awards, Shares | ' | 129,605 |
Equity Plan Stock Options Granted | ' | 10.00% |
Equity Plan Stock Options Shares Granted | ' | 324,013 |
Share-Based Compensation Awards | 0 | ' |