Document_and_Entity_Informatio
Document and Entity Information | 3 Months Ended | |
Sep. 30, 2014 | Nov. 06, 2014 | |
Document and Entity Information: | ' | ' |
Entity Registrant Name | 'HomeTrust Bancshares, Inc. | ' |
Document Type | '10-Q | ' |
Document Period End Date | 30-Sep-14 | ' |
Amendment Flag | 'false | ' |
Entity Central Index Key | '0001538263 | ' |
Current Fiscal Year End Date | '--06-30 | ' |
Entity Common Stock, Shares Outstanding | ' | 20,101,752 |
Entity Filer Category | 'Accelerated Filer | ' |
Entity Current Reporting Status | 'Yes | ' |
Entity Voluntary Filers | 'No | ' |
Entity Well-known Seasoned Issuer | 'No | ' |
Document Fiscal Year Focus | '2015 | ' |
Document Fiscal Period Focus | 'Q1 | ' |
HOMETRUST_BANCSHARES_INC_AND_S
HOMETRUST BANCSHARES, INC. AND SUBSIDIARY -- Consolidated Balance Sheets (September 30, 2014 figures unaudited) (USD $) | Sep. 30, 2014 | Jun. 30, 2014 |
In Thousands, unless otherwise specified | ||
Assets | ' | ' |
Cash | $19,397 | $19,801 |
Interest-bearing deposits | 12,826 | 26,029 |
Cash and cash equivalents | 32,223 | 45,830 |
Certificates of deposit in other banks | 175,869 | 163,780 |
Securities available for sale, at fair value | 176,237 | 168,749 |
Other investments, at cost | 12,758 | 3,697 |
Loans held for sale | 2,632 | 2,537 |
Total loans, net of deferred loan fees and discount | 1,608,214 | 1,496,528 |
Allowance for loan losses | -23,080 | -23,429 |
Net loans | 1,585,134 | 1,473,099 |
Premises and equipment, net | 49,983 | 47,411 |
Accrued interest receivable | 7,270 | 6,787 |
Real estate owned (REO) | 14,514 | 15,725 |
Deferred income taxes | 59,080 | 58,381 |
Bank owned life insurance | 76,419 | 71,285 |
Goodwill | 13,768 | 9,815 |
Core deposit intangibles | 4,240 | 4,014 |
Other assets | 3,768 | 3,344 |
Total Assets | 2,213,895 | 2,074,454 |
Liabilities | ' | ' |
Deposits | 1,658,793 | 1,583,047 |
Other borrowings | 112,000 | 50,000 |
Capital lease obligations | 1,993 | 1,998 |
Other liabilities | 63,061 | 62,258 |
Total liabilities | 1,835,847 | 1,697,303 |
Stockholders' Equity | ' | ' |
Common stock | 205 | 207 |
Additional paid in capital | 224,434 | 225,889 |
Retained earnings | 162,588 | 160,332 |
Unearned Employee Stock Ownership Plan (ESOP) shares | -9,390 | -9,522 |
Accumulated other comprehensive income | 211 | 245 |
Total stockholders' equity | 378,048 | 377,151 |
Total Liabilities and Stockholders' Equity | $2,213,895 | $2,074,454 |
HOMETRUST_BANCSHARES_INC_AND_S1
HOMETRUST BANCSHARES, INC. AND SUBSIDIARY -- Consolidated Balance Sheets (Parentheticals) (September 30, 2014 figures unaudited) (USD $) | Sep. 30, 2014 | Jun. 30, 2014 |
Statements of Financial Condition | ' | ' |
Preferred stock par value | $0.01 | $0.01 |
Preferred stock authorized shares | 10,000,000 | 10,000,000 |
Preferred stock issued shares | 0 | 0 |
Preferred stock shares outstanding | 0 | 0 |
Common stock par value | $0.01 | $0.01 |
Common stock shares authorized | 60,000,000 | 60,000,000 |
Common stock shares issued | 20,507,248 | 20,632,008 |
Common stock shares outstanding | 20,507,248 | 20,632,008 |
HOMETRUST_BANCSHARES_INC_AND_S2
HOMETRUST BANCSHARES, INC. AND SUBSIDIARY -- Consolidated Statements of Income (USD $) | 3 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
Interest and Dividend Income | ' | ' |
Loans | $18,557 | $14,082 |
Securities available for sale | 805 | 297 |
Certificates of deposit and other interest-bearing deposits | 439 | 452 |
Other investments | 64 | 12 |
Total interest and dividend income | 19,865 | 14,843 |
Interest Expense | ' | ' |
Deposits | 1,227 | 1,543 |
Other borrowings | 38 | 3 |
Total interest expense | 1,265 | 1,546 |
Net Interest Income | 18,600 | 13,297 |
Recovery of Loan Losses | -250 | -2,300 |
Net Interest Income after Recovery for Loan Losses | 18,850 | 15,597 |
Noninterest Income | ' | ' |
Service charges on deposit accounts | 1,062 | 679 |
Mortgage banking income and fees | 846 | 998 |
Other noninterest income, net | 861 | 594 |
Total noninterest income | 2,769 | 2,271 |
Noninterest Expense | ' | ' |
Salaries and employee benefits | 9,808 | 7,177 |
Net occupancy expense | 1,853 | 1,150 |
Marketing and advertising | 388 | 355 |
Telephone, postage, and supplies | 678 | 382 |
Deposit insurance premiums | 430 | 335 |
Computer services | 1,353 | 889 |
Gain on sale and impairment of REO | -36 | -271 |
REO expense | 356 | 454 |
Core deposit intangible amortization | 413 | 29 |
Merger-related expenses | 1,421 | 219 |
Other noninterest expense | 1,833 | 1,156 |
Total other expense | 18,497 | 11,875 |
Income Before Income Taxes | 3,122 | 5,993 |
Income Tax Expense | 866 | 2,666 |
Net Income | $2,256 | $3,327 |
Net income per common share: | ' | ' |
Basic | $0.12 | $0.17 |
Diluted | $0.12 | $0.17 |
Average shares outstanding: | ' | ' |
Basic | 19,178,607 | 19,288,154 |
Diluted | 19,242,722 | 19,377,896 |
HOMETRUST_BANCSHARES_INC_AND_S3
HOMETRUST BANCSHARES, INC. AND SUBSIDIARY -- Consolidated Statements of Comprehensive Income (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
Statements of Comprehensive Income | ' | ' |
Net Income | $2,256 | $3,327 |
Unrealized holding losses on securities available for sale | ' | ' |
Losses arising during the period | -52 | -102 |
Deferred income tax benefit | 18 | 35 |
Total other comprehensive loss | -34 | -67 |
Comprehensive Income | $2,222 | $3,260 |
HOMETRUST_BANCSHARES_INC_AND_S4
HOMETRUST BANCSHARES, INC. AND SUBSIDIARY -- Consolidated Statements of Changes in Stockholders' Equity (USD $) | Total | Common Stock | Additional Paid In Capital | Retained Earnings | Unearned ESOP Shares | Accumulated Other Comprehensive Income (Loss) | Total Stockholders' Equity |
In Thousands | |||||||
Balance at beginning of period at Jun. 30, 2013 | ' | $208 | $227,397 | $149,990 | ($10,051) | ($29) | $367,515 |
Net income | 3,327 | ' | ' | 3,327 | ' | ' | 3,327 |
Stock repurchased | -3,594 | -2 | -3,592 | ' | ' | ' | -3,594 |
Stock option expense | ' | ' | 325 | ' | ' | ' | 325 |
Restricted stock expense | ' | ' | 343 | ' | ' | ' | 343 |
ESOP shares allocated | ' | ' | 85 | ' | 132 | ' | 217 |
Other comprehensive income (loss) | -67 | ' | ' | ' | ' | -67 | -67 |
Balance at end of period at Sep. 30, 2013 | ' | 206 | 224,558 | 153,317 | -9,919 | -96 | 368,066 |
Balance at beginning of period at Jun. 30, 2014 | ' | 207 | 225,889 | 160,332 | -9,522 | 245 | 377,151 |
Net income | 2,256 | ' | ' | 2,256 | ' | ' | 2,256 |
Stock repurchased | -2,538 | -2 | -2,536 | ' | ' | ' | -2,538 |
Exercised stock options | 339 | ' | 259 | ' | ' | ' | 259 |
Stock option expense | ' | ' | 365 | ' | ' | ' | 365 |
Restricted stock expense | ' | ' | 388 | ' | ' | ' | 388 |
ESOP shares allocated | ' | ' | 69 | ' | 132 | ' | 201 |
Other comprehensive income (loss) | -34 | ' | ' | ' | ' | -34 | -34 |
Balance at end of period at Sep. 30, 2014 | ' | $205 | $224,434 | $162,588 | ($9,390) | $211 | $378,048 |
HOMETRUST_BANCSHARES_INC_AND_S5
HOMETRUST BANCSHARES, INC. AND SUBSIDIARY -- Consolidated Statements of Cash Flows (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
Operating Activities: | ' | ' |
Net income | $2,256 | $3,327 |
Adjustments to reconcile net income to net cash provided by (used in) operating activities: | ' | ' |
Recovery of loan losses | -250 | -2,300 |
Depreciation | 760 | 556 |
Deferred income tax expense | 668 | 2,686 |
Net amortization and accretion | -491 | -129 |
Gain on sale and impairment of REO | -36 | -271 |
Gain on sale of loans held for sale | -430 | -613 |
Origination of loans held for sale | -16,776 | -27,092 |
Proceeds from sales of loans held for sale | 17,111 | 32,369 |
Decrease in deferred loan fees, net | -620 | -53 |
Increase in accrued interest receivable and other assets | -854 | -969 |
Amortization of core deposit intangibles | 413 | 29 |
ESOP compensation expense | 201 | 217 |
Restricted stock and stock option expense | 673 | 668 |
Decrease in other liabilities | -5,566 | -2,499 |
Net cash provided by (used in) operating activities | -2,941 | 5,897 |
Investing Activities: | ' | ' |
Purchase of securities available for sale | -5,303 | -41,810 |
Proceeds from maturities of securities available for sale | 16,000 | ' |
Purchase of certificates of deposit in other banks | -23,935 | -16,655 |
Maturities of certificates of deposit in other banks | 11,846 | 7,666 |
Principal repayments of mortgage-backed securities | 5,792 | 2,909 |
Net purchases (redemptions)of other investments | -8,270 | 212 |
Net decrease (increase) in loans | -24,575 | 13,431 |
Purchase of premises and equipment | -3,197 | -611 |
Capital improvements to REO | -42 | -96 |
Proceeds from sale of REO | 1,822 | 1,262 |
Acquisition of BankGreenville Financial Corporation, net of cash paid | ' | 1,475 |
Acquisition of Bank of Commerce, net of cash paid | -7,759 | ' |
Net cash used in investing activities | -37,621 | -32,217 |
Financing Activities: | ' | ' |
Net decrease in deposits | -17,669 | -370 |
Net increase (decrease) in other borrowings | 46,828 | -2,507 |
Common stock repurchased | -2,538 | -3,594 |
Exercised stock options | 339 | ' |
Decrease in capital lease obligations | -5 | -4 |
Net cash provided by (used in) financing activities | 26,955 | -6,475 |
Net Decrease in Cash and Cash Equivalents | -13,607 | -32,795 |
Cash and Cash Equivalents at Beginning of Period | 45,830 | 125,713 |
Cash and Cash Equivalents at End of Period | 32,223 | 92,918 |
Cash paid during the period for: | ' | ' |
Interest | 809 | 1,375 |
Income taxes | 120 | 13 |
Noncash transactions: | ' | ' |
Unrealized loss in value of securities available for sale, net of income taxes | -34 | -67 |
Transfers of loans to REO | 309 | 1,615 |
Loans originated to finance the sale of REO | ' | 94 |
Business Combinations: | ' | ' |
Assets acquired | 124,956 | 103,905 |
Liabilities assumed | 114,956 | 94,352 |
Net assets acquired | $10,000 | $9,553 |
1_Summary_of_Significant_Accou
1. Summary of Significant Accounting Policies | 3 Months Ended |
Sep. 30, 2014 | |
Notes | ' |
1. Summary of Significant Accounting Policies | ' |
1. Summary of Significant Accounting Policies | |
The consolidated financial statements presented in this report include the accounts of HomeTrust Bancshares, Inc., a Maryland corporation (“HomeTrust”), and its wholly-owned subsidiary, HomeTrust Bank, National Association (the “Bank”). As used throughout this report, the term the “Company” refers to HomeTrust and the Bank, its consolidated subsidiary, unless the context otherwise requires. | |
The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“US GAAP”) for interim financial information and in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X as promulgated by the Securities and Exchange Commission (“SEC”). Accordingly, they do not include all the information and footnotes required by US GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation of the financial position and results of operations for the periods presented have been included. It is recommended that these unaudited interim consolidated financial statements be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company's Annual Report on Form 10-K for the year ended June 30, 2014 (“2014 Form 10-K”) filed with the SEC on September 15, 2014. The results of operations for the three months ended September 30, 2014 are not necessarily indicative of results that may be expected for the entire fiscal year ending June 30, 2015. Certain prior year amounts have been reclassified to conform to current fiscal year presentation. The reclassifications had no impact on previously reported net income or equity. | |
The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect amounts reported in the financial statements. Various elements of the Company’s accounting policies, by their nature, are inherently subject to estimation techniques, valuation assumptions and other subjective assessments. In particular, management has identified several accounting policies that, due to the judgments, estimates and assumptions inherent in those policies, are critical to an understanding of the Company’s financial statements. These policies relate to (i) the determination of the provision and the allowance for loan losses, (ii) business combinations, (iii) the valuation of REO, (iv) the calculation of post retirement plan expenses and benefits, and (v) the valuation of or recognition of deferred tax assets and liabilities. These policies and judgments, estimates and assumptions are described in greater detail in subsequent notes to the Consolidated Financial Statements and Management’s Discussion and Analysis of Financial Condition and Results of Operations (Critical Accounting Policies) in our 2014 Form 10-K. Management believes that the judgments, estimates and assumptions used in the preparation of the financial statements are appropriate based on the factual circumstances at the time. However, given the sensitivity of the financial statements to these critical accounting policies, the use of other judgments, estimates and assumptions could result in material differences in the Company’s results of operations or financial condition. Further, subsequent changes in economic or market conditions could have a material impact on these estimates and the Company’s financial condition and operating results in future periods. | |
2_Recent_Accounting_Pronouncem
2. Recent Accounting Pronouncements | 3 Months Ended |
Sep. 30, 2014 | |
Notes | ' |
2. Recent Accounting Pronouncements | ' |
2. Recent Accounting Pronouncements | |
In July 2013, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2013-11 “Income Taxes (Topic 740): Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists”. This ASU provides guidance on financial statement presentation of an unrecognized tax benefit when a net operating loss (“NOL”) carryforward, a similar tax loss, or a tax credit carryforward exists. This ASU applies to all entities with unrecognized tax benefits that also have tax loss or tax credit carryforwards in the same tax jurisdiction as of the reporting date. The new guidance is effective for fiscal years, and interim periods within those years, beginning after December 15, 2013 with early adoption permitted. Since the Company does not have any unrecognized tax benefits, the adoption of the ASU did not have a material impact on the Company’s Consolidated Financial Statements. | |
In January 2014, the FASB issued ASU No. 2014-04, "Receivables--Troubled Debt Restructurings by Creditors (Subtopic 310-40): Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure." The objective of this guidance is to clarify when an in substance repossession or foreclosure occurs, that is, when a creditor should be considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan such that the loan receivable should be derecognized and the real estate property recognized. ASU No. 2014-04 states that an in substance repossession or foreclosure occurs, and a creditor is considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan, upon either (1) the creditor obtaining legal title to the residential real estate property upon completion of a foreclosure or (2) the borrower conveying all interest in the residential real estate property to the creditor to satisfy that loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. Additionally, ASU No. 2014-04 requires interim and annual disclosure of both (1) the amount of foreclosed residential real estate property held by the creditor and (2) the recorded investment in consumer mortgage loans collateralized by residential real estate property that are in the process of foreclosure according to local requirements of the applicable jurisdiction. ASU No. 2014-04 is effective for interim and annual reporting periods beginning after December 15, 2014. The adoption of ASU No. 2014-04 is not expected to have a material impact on the Company's Consolidated Financial Statements. | |
In August 2014, the FASB issued ASU No. 2014-14, “Receivables-Troubled Debt Restructuring by Creditors (Subtopic 310-40): Classification of Certain Government-Guaranteed Mortgage Loans upon Foreclosure”. The amendments in this Update require that a mortgage loan be derecognized and that a separate other receivable be recognized upon foreclosure if the following conditions are met: (1) the loan has a government guarantee that is not separable from the loan before foreclosure; (2) at the time of foreclosure, the creditor has the intent to convey the real estate property to the guarantor and make a claim of the guarantee, and the creditor has the ability to recover under that claim; and (3) at the time of foreclosure, any amount of the claim that is determined on the basis of the fair value of the real estate is fixed. Upon foreclosure, the separate other receivable should be measured based on the amount of the loan balance (principal and interest) expected to be recovered from the guarantor. The amendments in this ASU are effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2014. The adoption of ASU No. 2014-14 is not expected to have a material impact on the Company’s Consolidated Financial Statements. | |
3_Business_Combinations
3. Business Combinations | 3 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
Notes | ' | ||||||||
3. Business Combinations | ' | ||||||||
3. Business Combinations | |||||||||
On July 31, 2014, the Bank completed its acquisition of Bank of Commerce in accordance with the terms of the Agreement and Plan of Share Exchange dated March 3, 2014. Under the terms of the agreement, Bank of Commerce shareholders received $6.25 per share in cash consideration, representing approximately $10.1 million of aggregate deal consideration. In addition, all $3.2 million of Bank of Commerce’s preferred stock was redeemed. | |||||||||
Bank of Commerce was accounted for using the acquisition method of accounting and, accordingly, assets acquired, liabilities assumed and consideration exchanged were recorded at acquisition date fair values. Fair values are preliminary and subject to refinement for up to one year after the closing date of the acquisition as additional information regarding the closing date fair values becomes available. The excess of the merger consideration over the fair value of Bank of Commerce’s net assets was allocated to goodwill. The book value as of July 31, 2014, of assets acquired was $122.5 million and liabilities assumed was $114.7 million. The Company recorded $4.0 million in goodwill related to the acquisition. | |||||||||
The following table presents the consideration paid by the Bank in the acquisition of Bank of Commerce and the assets acquired and liabilities assumed as of July 31, 2014: | |||||||||
Fair Value and | As | ||||||||
As Recorded | Other Merger | Recorded | |||||||
By Bank of | Related | by the | |||||||
Commerce | Adjustments | Company | |||||||
Consideration Paid | |||||||||
Cash paid | $ | 10,000 | |||||||
Total consideration | $ | 10,000 | |||||||
Assets | |||||||||
Cash and cash equivalents | $ | 2,241 | $ | - | $ | 2,241 | |||
Securities available for sale | 24,228 | - | 24,228 | ||||||
Loans, net of allowance | 89,339 | -3,131 | 86,208 | ||||||
Federal Home Loan Bank (“FHLB”) Stock | 791 | - | 791 | ||||||
REO | 224 | - | 224 | ||||||
Premises and equipment, net | 135 | - | 135 | ||||||
Accrued interest receivable | 355 | -100 | 255 | ||||||
Deferred income taxes | 286 | 1,064 | 1,350 | ||||||
Core deposit intangibles | - | 640 | 640 | ||||||
Other assets | 4,931 | - | 4,931 | ||||||
Total assets acquired | $ | 122,530 | $ | -1,527 | $ | 121,003 | |||
Liabilities | |||||||||
Deposits | $ | 93,303 | $ | 112 | $ | 93,415 | |||
Other borrowings | 15,000 | 172 | 15,172 | ||||||
Other liabilities | 6,369 | - | 6,369 | ||||||
Total liabilities assumed | $ | 114,672 | $ | 284 | $ | 114,956 | |||
Net identifiable assets acquired over liabilities assumed | $ | 7,858 | $ | -1,811 | 6,047 | ||||
Goodwill | $ | 3,953 | |||||||
The carrying amount of acquired loans from Bank of Commerce as of July 31, 2014 consisted of purchased performing loans and purchased credit-impaired (“PCI”) loans as detailed in the following table: | |||||||||
Purchased | Total | ||||||||
Performing | PCI | Loans | |||||||
Retail Consumer Loans: | |||||||||
One-to-four family | $ | 2,717 | $ | 2,979 | $ | 5,696 | |||
Home equity lines of credit | 8,823 | 317 | 9,140 | ||||||
Consumer | 37 | 15 | 52 | ||||||
Commercial: | |||||||||
Commercial real estate | 28,772 | 30,047 | 58,819 | ||||||
Construction and development | 202 | 3,020 | 3,222 | ||||||
Commercial and industrial | 5,402 | 3,877 | 9,279 | ||||||
Total | $ | 45,953 | $ | 40,255 | $ | 86,208 | |||
On May 31, 2014, the Company completed its acquisition of Jefferson Bancshares, Inc. (“Jefferson”) in accordance with the terms of the Agreement and Plan of Merger dated January 22, 2014. Under the terms of the agreement, Jefferson shareholders received 0.2661 shares of HomeTrust common stock, and $4.00 in cash for each share of Jefferson common stock. This represents approximately $50.5 million of aggregate deal consideration. | |||||||||
Jefferson was accounted for using the acquisition method of accounting and, accordingly, assets acquired, liabilities assumed and consideration exchanged were recorded at acquisition date fair values. Fair values are preliminary and subject to refinement for up to one year after the closing date of the acquisition as additional information regarding the closing date fair values becomes available. The excess of the merger consideration over the fair value of Jefferson’s net assets was allocated to goodwill. The book value as of May 31, 2014, of assets acquired was $494.3 million and liabilities assumed was $441.9 million. The Company recorded $7.0 million in goodwill related to the acquisition. | |||||||||
The following table presents the consideration paid by the Company in the acquisition of Jefferson and the assets acquired and liabilities assumed as of May 31, 2014: | |||||||||
As | Fair Value and | As | |||||||
Recorded | Other Merger | Recorded | |||||||
by | Related | by the | |||||||
Jefferson | Adjustments | Company | |||||||
Consideration Paid | |||||||||
Cash paid including cash in lieu of fractional shares | $ | 25,251 | |||||||
Fair value of HomeTrust common stock at $15.03 per share | 25,239 | ||||||||
Total consideration | $ | 50,490 | |||||||
Assets | |||||||||
Cash and cash equivalents | $ | 18,325 | $ | - | $ | 18,325 | |||
Securities available for sale | 85,744 | -700 | 85,044 | ||||||
Loans, net of allowance | 338,616 | -9,134 | 329,482 | ||||||
FHLB Stock | 4,635 | - | 4,635 | ||||||
REO | 3,288 | - | 3,288 | ||||||
Premises and equipment, net | 24,662 | -1,311 | 23,351 | ||||||
Accrued interest receivable | 1,367 | -90 | 1,277 | ||||||
Deferred income taxes | 9,606 | 3,395 | 13,001 | ||||||
Core deposit intangibles | 847 | 2,683 | 3,530 | ||||||
Other assets | 7,171 | - | 7,171 | ||||||
Total assets acquired | $ | 494,261 | $ | -5,157 | $ | 489,104 | |||
Liabilities | |||||||||
Deposits | $ | 376,985 | $ | 371 | $ | 377,356 | |||
Other borrowings | 55,081 | 858 | 55,939 | ||||||
Subordinated debentures | 7,460 | 2,540 | 10,000 | ||||||
Other liabilities | 2,332 | - | 2,332 | ||||||
Total liabilities assumed | $ | 441,858 | $ | 3,769 | $ | 445,627 | |||
Net identifiable assets acquired over liabilities assumed | $ | 52,403 | $ | -8,926 | 43,477 | ||||
Goodwill | $ | 7,013 | |||||||
The carrying amount of acquired loans from Jefferson as of May 31, 2014 consisted of purchased performing loans and PCI as detailed in the following table: | |||||||||
Purchased | Total | ||||||||
Performing | PCI | Loans | |||||||
Retail Consumer Loans: | |||||||||
One-to-four family | $ | 74,378 | $ | 6,066 | $ | 80,444 | |||
Home equity lines of credit | 16,857 | 18 | 16,875 | ||||||
Construction and land/lots | 7,810 | 924 | 8,734 | ||||||
Consumer | 4,181 | 2 | 4,183 | ||||||
Commercial: | |||||||||
Commercial real estate | 118,714 | 15,649 | 134,363 | ||||||
Construction and development | 24,658 | 1,012 | 25,670 | ||||||
Commercial and industrial | 52,863 | 6,350 | 59,213 | ||||||
Total | $ | 299,461 | $ | 30,021 | $ | 329,482 | |||
On July 31, 2013, the Company completed its acquisition of BankGreenville Financial Corporation (“BankGreenville”) in accordance with the terms of the Agreement and Plan of Merger dated May 3, 2013. Under the terms of the agreement, BankGreenville shareholders received $6.63 per share in cash consideration. This represents approximately $7.8 million of aggregate deal consideration. Additional contingent cash consideration of up to $0.75 per share (or approximately $883,000) may be realized at the expiration of 24 months based on the performance of a select pool of loans totaling approximately $8.0 million. | |||||||||
BankGreenville was accounted for using the acquisition method of accounting and, accordingly, assets acquired, liabilities assumed and consideration exchanged were recorded at acquisition date fair values. The excess of the merger consideration over the fair value of BankGreenville’s net assets was allocated to goodwill. The book value as of July 31, 2013, of assets acquired was $102.2 million and liabilities assumed was $94.1 million. The Company recorded $2.8 million in goodwill related to the acquisition. | |||||||||
The following table presents the consideration paid by the Company in the acquisition of BankGreenville and the assets acquired and liabilities assumed as of July 31, 2013: | |||||||||
Fair Value and | As | ||||||||
As Recorded | Other Merger | Recorded | |||||||
by | Related | by the | |||||||
BankGreenville | Adjustments | Company | |||||||
Consideration Paid | |||||||||
Cash | $ | 7,823 | |||||||
Repayment of BankGreenville preferred stock | 1,050 | ||||||||
Contingent cash consideration (1) | 680 | ||||||||
Total consideration | $ | 9,553 | |||||||
Assets | |||||||||
Cash and cash equivalents | $ | 10,348 | $ | - | $ | 10,348 | |||
Investment securities | 34,345 | - | 34,345 | ||||||
Loans, net of allowance | 51,622 | -3,792 | 47,830 | ||||||
FHLB Stock | 447 | - | 447 | ||||||
REO | 2,317 | -168 | 2,149 | ||||||
Premises and equipment, net | 2,458 | -117 | 2,341 | ||||||
Accrued interest receivable | 429 | - | 429 | ||||||
Deferred tax asset | - | 2,470 | 2,470 | ||||||
Other assets | 214 | - | 214 | ||||||
Core deposit intangibles | - | 530 | 530 | ||||||
Total assets acquired | $ | 102,180 | $ | -1,077 | $ | 101,103 | |||
Liabilities | |||||||||
Deposits | $ | 88,906 | $ | 201 | $ | 89,107 | |||
Other borrowings | 4,700 | 34 | 4,734 | ||||||
Other liabilities | 511 | - | 511 | ||||||
Total liabilities assumed | $ | 94,117 | $ | 235 | $ | 94,352 | |||
Net identifiable assets acquired over liabilities assumed | $ | 8,063 | $ | -1,312 | 6,751 | ||||
Goodwill | $ | 2,802 | |||||||
(1) Estimate of additional amount to be paid to shareholders on or about July 31, 2015 based on performance of a select pool of loans totaling approximately $8.0 million. | |||||||||
The carrying amount of acquired loans from BankGreenville as of July 31, 2013 consisted of purchased performing loans and PCI as detailed in the following table: | |||||||||
Purchased | Total | ||||||||
Performing | PCI | Loans | |||||||
Retail Consumer Loans: | |||||||||
One-to-four family | $ | 8,274 | $ | 1,392 | $ | 9,666 | |||
Home equity lines of credit | 3,987 | 134 | 4,121 | ||||||
Consumer | 522 | - | 522 | ||||||
Commercial: | |||||||||
Commercial real estate | 23,073 | 4,552 | 27,625 | ||||||
Construction and development | 2,367 | 3,529 | 5,896 | ||||||
Total | $ | 38,223 | $ | 9,607 | $ | 47,830 | |||
The following table discloses the impact of the acquisition of Bank of Commerce since the effective date of July 31, 2014 through September 30, 2014. In addition, the table presents certain pro forma information as if Bank of Commerce, Jefferson, and BankGreenville had been acquired on July 1, 2014 and July 1, 2013. Although, this pro forma information combines the historical results from each company, it is not indicative of what would have occurred had the acquisition taken place on July 1, 2014 and July 1, 2013. Adjustments were made for the estimated impact of certain fair value adjustments and other acquisition-related activity while significant one-time merger-related expenses are not included. Furthermore, expenses related to systems conversions and other costs of integration have been recorded throughout fiscal year 2014 and are expected to be recorded throughout fiscal year 2015. Additionally, the Company expects to achieve further operating cost savings as a result of the acquisitions which are not reflected in the pro forma amounts below: | |||||||||
Actual | Pro Forma | Pro Forma | |||||||
Three Months Ended | Three Months Ended | Three Months Ended | |||||||
30-Sep-14 | 30-Sep-14 | 30-Sep-13 | |||||||
Total revenues* | $ | 18,600 | $ | 21,767 | $ | 38,450 | |||
Net income | 2,256 | 1,996 | 5,639 | ||||||
* Net interest income plus other income | |||||||||
4_Securities_Available_For_Sal
4. Securities Available For Sale | 3 Months Ended | |||||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||||
Notes | ' | |||||||||||||||||||
4. Securities Available For Sale | ' | |||||||||||||||||||
4. Securities Available for Sale | ||||||||||||||||||||
Securities available for sale consist of the following at the dates indicated: | ||||||||||||||||||||
30-Sep-14 | ||||||||||||||||||||
Gross | Gross | Estimated | ||||||||||||||||||
Amortized | Unrealized | Unrealized | Fair | |||||||||||||||||
Cost | Gains | Losses | Value | |||||||||||||||||
U.S. Government Agencies | $ | 38,765 | $ | 103 | $ | -59 | $ | 38,809 | ||||||||||||
Residential Mortgage-backed Securities of U.S. | ||||||||||||||||||||
Government Agencies and Government- | ||||||||||||||||||||
Sponsored Enterprises | 117,418 | 398 | -517 | 117,299 | ||||||||||||||||
Municipal Bonds | 15,828 | 316 | -8 | 16,136 | ||||||||||||||||
Corporate Bonds | 3,906 | 87 | - | 3,993 | ||||||||||||||||
Total | $ | 175,917 | $ | 904 | $ | -584 | $ | 176,237 | ||||||||||||
30-Jun-14 | ||||||||||||||||||||
Gross | Gross | Estimated | ||||||||||||||||||
Amortized | Unrealized | Unrealized | Fair | |||||||||||||||||
Cost | Gains | Losses | Value | |||||||||||||||||
U.S. government agencies | $ | 38,085 | $ | 45 | $ | -37 | $ | 38,093 | ||||||||||||
Residential Mortgage-backed Securities of U.S. | ||||||||||||||||||||
Government Agencies and Government- | ||||||||||||||||||||
Sponsored Enterprises | 111,430 | 393 | -412 | 111,411 | ||||||||||||||||
Municipal Bonds | 15,951 | 282 | -13 | 16,220 | ||||||||||||||||
Corporate Bonds | 2,912 | 113 | - | 3,025 | ||||||||||||||||
Total | $ | 168,378 | $ | 833 | $ | -462 | $ | 168,749 | ||||||||||||
Debt securities available for sale by contractual maturity at the dates indicated are shown below. Mortgage-backed securities are not included in the maturity categories because the borrowers in the underlying pools may prepay without penalty; therefore, it is unlikely that the securities will pay at their stated maturity schedule. | ||||||||||||||||||||
30-Sep-14 | ||||||||||||||||||||
Amortized | Estimated | |||||||||||||||||||
Cost | Fair Value | |||||||||||||||||||
Due within one year | $ | 2,518 | $ | 2,518 | ||||||||||||||||
Due after one year through five years | 12,980 | 12,978 | ||||||||||||||||||
Due after five years through ten years | 36,320 | 36,599 | ||||||||||||||||||
Due after ten years | 6,681 | 6,843 | ||||||||||||||||||
Mortgage-backed securities | 117,418 | 117,299 | ||||||||||||||||||
Total | $ | 175,917 | $ | 176,237 | ||||||||||||||||
The Company had no sales of securities during the three months ended September 30, 2014 and 2013. | ||||||||||||||||||||
Securities available for sale with costs totaling $42,355 and $51,036 with market values of $42,546 and $51,297 at September 30, 2014 and June 30, 2014, respectively, were pledged as collateral to secure various public deposits. | ||||||||||||||||||||
The gross unrealized losses and the fair value for securities available for sale aggregated by the length of time that individual securities have been in a continuous unrealized loss position as of September 30, 2014 and June 30, 2014 were as follows: | ||||||||||||||||||||
30-Sep-14 | ||||||||||||||||||||
Less than 12 Months | 12 Months or More | Total | ||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||
Value | Losses | Value | Losses | Value | Losses | |||||||||||||||
U.S. government agencies | $ | 16,971 | $ | -59 | $ | - | $ | - | $ | 16,971 | $ | -59 | ||||||||
Mortgage-backed securities of | ||||||||||||||||||||
U.S. government agencies and | ||||||||||||||||||||
government-sponsored | ||||||||||||||||||||
enterprises | 75,671 | -505 | 152 | -12 | 75,823 | -517 | ||||||||||||||
Taxable municipal securities | 2,876 | -8 | - | - | 2,876 | -8 | ||||||||||||||
Total | $ | 95,518 | $ | -572 | $ | 152 | $ | -12 | $ | 95,670 | $ | -584 | ||||||||
30-Jun-14 | ||||||||||||||||||||
Less than 12 Months | 12 Months or More | Total | ||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||
Value | Losses | Value | Losses | Value | Losses | |||||||||||||||
U.S. Government Agencies | $ | 19,475 | $ | -37 | $ | - | $ | - | $ | 19,475 | $ | -37 | ||||||||
Residential Mortgage-backed | ||||||||||||||||||||
Securities of U.S. Government | ||||||||||||||||||||
Agencies and Government- | ||||||||||||||||||||
Sponsored Enterprises | 75,761 | -399 | 162 | -13 | 75,923 | -412 | ||||||||||||||
Municipal Bonds | 6,668 | -13 | - | - | 6,668 | -13 | ||||||||||||||
Total | $ | 101,904 | $ | -449 | $ | 162 | $ | -13 | $ | 102,066 | $ | -462 | ||||||||
The total number of securities with unrealized losses at September 30, 2014, and June 30, 2014 were 148 and 159, respectively. Unrealized losses on securities have not been recognized in income because management has the intent and ability to hold the securities for the foreseeable future, and has determined that it is not more likely than not that the Company will be required to sell the securities prior to a recovery in value. The decline in fair value was largely due to increases in market interest rates. The Company had no other than temporary impairment losses during the three months ended September 30, 2014 or the year ended June 30, 2014. | ||||||||||||||||||||
As a requirement for membership, the Bank invests in stock of the FHLB of Atlanta and the Federal Reserve Bank. No ready market exists for this stock and the carrying value approximates its fair value based on the redemption provisions of the FHLB of Atlanta and the Federal Reserve Bank. | ||||||||||||||||||||
5_Loans
5. Loans | 3 Months Ended | ||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||
Notes | ' | ||||||||||||||||||||||
5. Loans | ' | ||||||||||||||||||||||
5. Loans | |||||||||||||||||||||||
Loans consist of the following at the dates indicated: | |||||||||||||||||||||||
September 30, | June 30, | ||||||||||||||||||||||
2014 | 2014 | ||||||||||||||||||||||
Retail consumer loans: | |||||||||||||||||||||||
One-to-four family | $ | 656,068 | $ | 660,200 | |||||||||||||||||||
Home equity lines of credit | 158,220 | 148,379 | |||||||||||||||||||||
Construction and land/lots | 61,781 | 59,249 | |||||||||||||||||||||
Indirect auto finance | 15,449 | 8,833 | |||||||||||||||||||||
Consumer | 5,556 | 6,331 | |||||||||||||||||||||
Total retail consumer loans | 897,074 | 882,992 | |||||||||||||||||||||
Commercial loans: | |||||||||||||||||||||||
Commercial real estate | 455,219 | 377,769 | |||||||||||||||||||||
Construction and development | 56,437 | 56,457 | |||||||||||||||||||||
Commercial and industrial | 91,126 | 74,435 | |||||||||||||||||||||
Municipal leases | 109,079 | 106,215 | |||||||||||||||||||||
Total commercial loans | 711,861 | 614,876 | |||||||||||||||||||||
Total loans | 1,608,935 | 1,497,868 | |||||||||||||||||||||
Deferred loan fees, net | -721 | -1,340 | |||||||||||||||||||||
Total loans, net of deferred loan fees and discount | 1,608,214 | 1,496,528 | |||||||||||||||||||||
Allowance for loan and lease losses | -23,080 | -23,429 | |||||||||||||||||||||
Loans, net | $ | 1,585,134 | $ | 1,473,099 | |||||||||||||||||||
All the qualifying first mortgage loans, home equity lines of credit, and FHLB Stock are pledged as collateral by a blanket pledge to secure any outstanding FHLB advances. | |||||||||||||||||||||||
The Company’s total non-purchased and purchased performing loans by segment, class, and risk grade at the dates indicated follow: | |||||||||||||||||||||||
Special | |||||||||||||||||||||||
Pass | Mention | Substandard | Doubtful | Loss | Total | ||||||||||||||||||
30-Sep-14 | |||||||||||||||||||||||
Retail consumer loans: | |||||||||||||||||||||||
One-to-four family | $ | 597,955 | $ | 15,069 | $ | 30,133 | $ | 3,156 | $ | 9 | $ | 646,322 | |||||||||||
Home equity lines of credit | 151,492 | 1,053 | 4,696 | 553 | 2 | 157,796 | |||||||||||||||||
Construction and land/lots | 57,466 | 1,041 | 1,943 | 433 | - | 60,883 | |||||||||||||||||
Indirect auto finance | 15,400 | 49 | - | - | - | 15,449 | |||||||||||||||||
Consumer | 5,280 | 81 | 101 | 77 | 2 | 5,541 | |||||||||||||||||
Commercial loans: | |||||||||||||||||||||||
Commercial real estate | 371,721 | 14,688 | 16,448 | 1,936 | - | 404,793 | |||||||||||||||||
Construction and development | 40,297 | 2,001 | 6,126 | 569 | - | 48,993 | |||||||||||||||||
Commercial and industrial | 80,706 | 819 | 1,464 | - | 1 | 82,990 | |||||||||||||||||
Municipal leases | 106,976 | 1,800 | 303 | - | - | 109,079 | |||||||||||||||||
Total loans | $ | 1,427,293 | $ | 36,601 | $ | 61,214 | $ | 6,724 | $ | 14 | $ | 1,531,846 | |||||||||||
Special | |||||||||||||||||||||||
Pass | Mention | Substandard | Doubtful | Loss | Total | ||||||||||||||||||
30-Jun-14 | |||||||||||||||||||||||
Retail consumer loans: | |||||||||||||||||||||||
One-to-four family | $ | 602,409 | $ | 17,639 | $ | 28,974 | $ | 2,907 | $ | 10 | $ | 651,939 | |||||||||||
Home equity lines of credit | 141,008 | 1,605 | 4,967 | 420 | 2 | 148,002 | |||||||||||||||||
Construction and land/lots | 55,374 | 1,878 | 807 | 113 | - | 58,172 | |||||||||||||||||
Indirect auto finance | 8,801 | 32 | - | - | - | 8,833 | |||||||||||||||||
Consumer | 6,115 | 62 | 97 | 13 | 3 | 6,290 | |||||||||||||||||
Commercial loans: | |||||||||||||||||||||||
Commercial real estate | 313,437 | 16,931 | 19,746 | 1,944 | - | 352,058 | |||||||||||||||||
Construction and development | 41,336 | 2,927 | 5,972 | 570 | - | 50,805 | |||||||||||||||||
Commercial and industrial | 66,481 | 873 | 1,723 | - | 3 | 69,080 | |||||||||||||||||
Municipal leases | 104,404 | 1,811 | - | - | - | 106,215 | |||||||||||||||||
Total loans | $ | 1,339,365 | $ | 43,758 | $ | 62,286 | $ | 5,967 | $ | 18 | $ | 1,451,394 | |||||||||||
The Company’s total PCI loans by segment, class, and risk grade at the dates indicated follow: | |||||||||||||||||||||||
Special | |||||||||||||||||||||||
Pass | Mention | Substandard | Doubtful | Loss | Total | ||||||||||||||||||
30-Sep-14 | |||||||||||||||||||||||
Retail consumer loans: | |||||||||||||||||||||||
One-to-four family | $ | 4,947 | $ | 939 | $ | 3,860 | $ | - | $ | - | $ | 9,746 | |||||||||||
Home equity lines of credit | 57 | - | 367 | - | - | 424 | |||||||||||||||||
Construction and land/lots | 457 | - | 441 | - | - | 898 | |||||||||||||||||
Indirect auto finance | - | - | - | - | - | - | |||||||||||||||||
Consumer | 15 | - | - | - | - | 15 | |||||||||||||||||
Commercial loans: | |||||||||||||||||||||||
Commercial real estate | 32,823 | 6,817 | 10,786 | - | - | 50,426 | |||||||||||||||||
Construction and development | 1,914 | 1,778 | 3,752 | - | - | 7,444 | |||||||||||||||||
Commercial and industrial | 6,504 | 456 | 1,176 | - | - | 8,136 | |||||||||||||||||
Municipal leases | - | - | - | - | - | - | |||||||||||||||||
Total loans | $ | 46,717 | $ | 9,990 | $ | 20,382 | $ | - | $ | - | $ | 77,089 | |||||||||||
Special | |||||||||||||||||||||||
Pass | Mention | Substandard | Doubtful | Loss | Total | ||||||||||||||||||
30-Jun-14 | |||||||||||||||||||||||
Retail consumer loans: | |||||||||||||||||||||||
One-to-four family | $ | 4,904 | $ | - | $ | 3,357 | $ | - | $ | - | $ | 8,261 | |||||||||||
Home equity lines of credit | 7 | - | 370 | - | - | 377 | |||||||||||||||||
Construction and land/lots | 791 | - | 286 | - | - | 1,077 | |||||||||||||||||
Indirect auto finance | - | - | - | - | - | - | |||||||||||||||||
Consumer | 41 | - | - | - | - | 41 | |||||||||||||||||
Commercial loans: | |||||||||||||||||||||||
Commercial real estate | 20,853 | - | 4,858 | - | - | 25,711 | |||||||||||||||||
Construction and development | 2,443 | 2,169 | 1,040 | - | - | 5,652 | |||||||||||||||||
Commercial and industrial | 4,647 | - | 708 | - | - | 5,355 | |||||||||||||||||
Municipal leases | - | - | - | - | - | - | |||||||||||||||||
Total loans | $ | 33,686 | $ | 2,169 | $ | 10,619 | $ | - | $ | - | $ | 46,474 | |||||||||||
The Company’s total loans by segment, class, and delinquency status at the dates indicated follows: | |||||||||||||||||||||||
Past Due | Total | ||||||||||||||||||||||
30-89 Days | 90 Days+ | Total | Current | Loans | |||||||||||||||||||
30-Sep-14 | |||||||||||||||||||||||
Retail consumer loans: | |||||||||||||||||||||||
One-to-four family | $ | 2,916 | $ | 8,277 | $ | 11,193 | $ | 644,875 | $ | 656,068 | |||||||||||||
Home equity lines of credit | 375 | 1,010 | 1,385 | 156,835 | 158,220 | ||||||||||||||||||
Construction and land/lots | 176 | 732 | 908 | 60,873 | 61,781 | ||||||||||||||||||
Indirect auto finance | 63 | - | 63 | 15,386 | 15,449 | ||||||||||||||||||
Consumer | 31 | 20 | 51 | 5,505 | 5,556 | ||||||||||||||||||
Commercial loans: | |||||||||||||||||||||||
Commercial real estate | 3,731 | 8,064 | 11,795 | 443,424 | 455,219 | ||||||||||||||||||
Construction and development | 111 | 3,728 | 3,839 | 52,598 | 56,437 | ||||||||||||||||||
Commercial and industrial | 207 | 623 | 830 | 90,296 | 91,126 | ||||||||||||||||||
Municipal leases | 555 | 303 | 858 | 108,221 | 109,079 | ||||||||||||||||||
Total loans | $ | 8,165 | $ | 22,757 | $ | 30,922 | $ | 1,578,013 | $ | 1,608,935 | |||||||||||||
The table above includes PCI loans of $2,461 30-89 days past due and $4,096 90 days or more past due as of September 30, 2014. | |||||||||||||||||||||||
Past Due | Total | ||||||||||||||||||||||
30-89 Days | 90 Days+ | Total | Current | Loans | |||||||||||||||||||
30-Jun-14 | |||||||||||||||||||||||
Retail consumer loans: | |||||||||||||||||||||||
One-to-four family | $ | 4,929 | $ | 8,208 | $ | 13,137 | $ | 647,063 | $ | 660,200 | |||||||||||||
Home equity lines of credit | 400 | 939 | 1,339 | 147,040 | 148,379 | ||||||||||||||||||
Construction and land/lots | 508 | 122 | 630 | 58,619 | 59,249 | ||||||||||||||||||
Indirect auto finance | - | - | - | 8,833 | 8,833 | ||||||||||||||||||
Consumer | 34 | 16 | 50 | 6,281 | 6,331 | ||||||||||||||||||
Commercial loans: | |||||||||||||||||||||||
Commercial real estate | 306 | 6,729 | 7,035 | 370,734 | 377,769 | ||||||||||||||||||
Construction and development | 1,165 | 3,789 | 4,954 | 51,503 | 56,457 | ||||||||||||||||||
Commercial and industrial | 183 | 576 | 759 | 73,676 | 74,435 | ||||||||||||||||||
Municipal leases | - | - | - | 106,215 | 106,215 | ||||||||||||||||||
Total loans | $ | 7,525 | $ | 20,379 | $ | 27,904 | $ | 1,469,964 | $ | 1,497,868 | |||||||||||||
The table above includes PCI loans of $1,817 30-89 days past due and $4,189 90 days or more past due as of June 30, 2014. | |||||||||||||||||||||||
The Company’s recorded investment in loans, by segment and class, that are not accruing interest or are 90 days or more past due and still accruing interest at the dates indicated follow: | |||||||||||||||||||||||
30-Sep-14 | 30-Jun-14 | ||||||||||||||||||||||
90 Days + & | 90 Days + & | ||||||||||||||||||||||
Nonaccruing | still accruing | Nonaccruing | still accruing | ||||||||||||||||||||
Retail consumer loans: | |||||||||||||||||||||||
One-to-four family | $ | 15,864 | $ | - | $ | 17,968 | $ | - | |||||||||||||||
Home equity lines of credit | 2,765 | - | 3,114 | - | |||||||||||||||||||
Construction and land/lots | 782 | - | 688 | - | |||||||||||||||||||
Indirect auto finance | - | - | - | - | |||||||||||||||||||
Consumer | 35 | - | 27 | - | |||||||||||||||||||
Commercial loans: | |||||||||||||||||||||||
Commercial real estate | 16,910 | - | 16,941 | - | |||||||||||||||||||
Construction and development | 6,771 | - | 6,270 | - | |||||||||||||||||||
Commercial and industrial | 2,043 | - | 2,003 | - | |||||||||||||||||||
Municipal leases | 303 | - | - | - | |||||||||||||||||||
Total loans | $ | 45,473 | $ | - | $ | 47,011 | $ | - | |||||||||||||||
The table above includes PCI loans of $8,464 and $9,220 as of September 30, 2014 and June 30, 2014, respectively. | |||||||||||||||||||||||
TDRs are loans which have renegotiated loan terms to assist borrowers who are unable to meet the original terms of their loans. Such modifications to loan terms may include a lower interest rate, a reduction in principal, or a longer term to maturity. Additionally, all TDRs are considered impaired. | |||||||||||||||||||||||
The Company’s loans that were performing under the payment terms of TDRs that were excluded from nonaccruing loans above at the dates indicated follow: | |||||||||||||||||||||||
September 30, | June 30, | ||||||||||||||||||||||
2014 | 2014 | ||||||||||||||||||||||
Performing TDRs included in impaired loans | $ | 18,737 | $ | 22,179 | |||||||||||||||||||
An analysis of the allowance for loan losses by segment for the periods shown was as follows: | |||||||||||||||||||||||
Three Months Ended September 30, 2014 | Three Months Ended September 30, 2013 | ||||||||||||||||||||||
Retail | Retail | ||||||||||||||||||||||
Consumer | Commercial | Total | Consumer | Commercial | Total | ||||||||||||||||||
Balance at beginning of period | $15,731 | $7,698 | $23,429 | $21,952 | $10,121 | $32,073 | |||||||||||||||||
Provision for (recovery of) | -674 | 424 | -250 | -1,639 | -661 | -2,300 | |||||||||||||||||
loan losses | |||||||||||||||||||||||
Charge-offs | -479 | -197 | -676 | -714 | -214 | -928 | |||||||||||||||||
Recoveries | 367 | 210 | 577 | 132 | 223 | 355 | |||||||||||||||||
Balance at end of period | $14,945 | $8,135 | $23,080 | $19,731 | $9,469 | $29,200 | |||||||||||||||||
The Company’s ending balances of loans and the related allowance, by segment and class, at the dates indicated follows: | |||||||||||||||||||||||
Allowance for Loan Losses | Total Loans Receivable | ||||||||||||||||||||||
Loans | Loans | ||||||||||||||||||||||
individually | Loans | individually | Loans | ||||||||||||||||||||
evaluated for | Collectively | evaluated for | Collectively | ||||||||||||||||||||
PCI | impairment | Evaluated | Total | PCI | impairment | Evaluated | Total | ||||||||||||||||
30-Sep-14 | |||||||||||||||||||||||
Retail consumer loans: | |||||||||||||||||||||||
One-to-four family | $- | $ | 432 | $ | 9,082 | $ | 9,514 | $ | 9,746 | $ | 23,328 | $ | 622,994 | $ | 656,068 | ||||||||
Home equity | - | 154 | 2,225 | 2,379 | 424 | 2,653 | 155,143 | 158,220 | |||||||||||||||
Construction and land/lots | - | 655 | 2,097 | 2,752 | 898 | 2,272 | 58,611 | 61,781 | |||||||||||||||
Indirect auto finance | - | - | 198 | 198 | - | - | 15,449 | 15,449 | |||||||||||||||
Consumer | - | 3 | 100 | 103 | 15 | 9 | 5,532 | 5,556 | |||||||||||||||
Commercial loans: | |||||||||||||||||||||||
Commercial real estate | - | 20 | 5,609 | 5,629 | 50,426 | 15,608 | 389,185 | 455,219 | |||||||||||||||
Construction and development | - | 67 | 1,265 | 1,332 | 7,444 | 5,509 | 43,484 | 56,437 | |||||||||||||||
Commercial and industrial | - | 1 | 444 | 445 | 8,136 | 2,243 | 80,747 | 91,126 | |||||||||||||||
Municipal leases | - | - | 728 | 728 | - | - | 109,079 | 109,079 | |||||||||||||||
Total | $- | $ | 1,332 | $ | 21,748 | $ | 23,080 | $ | 77,089 | $ | 51,622 | $ | 1,480,224 | $ | 1,608,935 | ||||||||
30-Jun-14 | |||||||||||||||||||||||
Retail consumer loans: | |||||||||||||||||||||||
One-to-four family | $- | $ | 493 | $ | 10,034 | $ | 10,527 | $ | 8,261 | $ | 23,929 | $ | 628,010 | $ | 660,200 | ||||||||
Home equity | - | 134 | 2,353 | 2,487 | 377 | 3,014 | 144,988 | 148,379 | |||||||||||||||
Construction and land/lots | - | 379 | 2,041 | 2,420 | 1,077 | 1,735 | 56,437 | 59,249 | |||||||||||||||
Indirect auto finance | - | - | 113 | 113 | - | - | 8,833 | 8,833 | |||||||||||||||
Consumer | - | 3 | 181 | 184 | 41 | 10 | 6,280 | 6,331 | |||||||||||||||
Commercial loans: | |||||||||||||||||||||||
Commercial real estate | - | 26 | 5,413 | 5,439 | 25,711 | 13,784 | 338,274 | 377,769 | |||||||||||||||
Construction and development | - | 26 | 1,215 | 1,241 | 5,652 | 5,571 | 45,234 | 56,457 | |||||||||||||||
Commercial and industrial | - | 3 | 246 | 249 | 5,355 | 2,378 | 66,702 | 74,435 | |||||||||||||||
Municipal leases | - | - | 769 | 769 | - | - | 106,215 | 106,215 | |||||||||||||||
Total | $- | $ | 1,064 | $ | 22,365 | $ | 23,429 | $ | 46,474 | $ | 50,421 | $ | 1,400,973 | $ | 1,497,868 | ||||||||
The Company’s impaired loans and the related allowance, by segment and class, at the dates indicated follows: | |||||||||||||||||||||||
Total Impaired Loans | |||||||||||||||||||||||
With a | With No | Related | |||||||||||||||||||||
Recorded | Recorded | Recorded | |||||||||||||||||||||
Allowance | Allowance | Total | Allowance | ||||||||||||||||||||
30-Sep-14 | |||||||||||||||||||||||
Retail consumer loans: | |||||||||||||||||||||||
One-to-four family | $ | 13,980 | $ | 17,710 | $ | 31,690 | $ | 540 | |||||||||||||||
Home equity lines of credit | 3,178 | 1,491 | 4,669 | 188 | |||||||||||||||||||
Construction and land/lots | 1,723 | 627 | 2,350 | 656 | |||||||||||||||||||
Indirect auto finance | - | - | - | - | |||||||||||||||||||
Consumer | 26 | 9 | 35 | 3 | |||||||||||||||||||
Commercial loans: | |||||||||||||||||||||||
Commercial real estate | 3,167 | 15,297 | 18,464 | 48 | |||||||||||||||||||
Construction and development | 2,182 | 3,892 | 6,074 | 83 | |||||||||||||||||||
Commercial and industrial | 820 | 2,243 | 3,063 | 4 | |||||||||||||||||||
Municipal leases | 303 | - | 303 | 2 | |||||||||||||||||||
Total impaired loans | $ | 25,379 | $ | 41,269 | $ | 66,648 | $ | 1,524 | |||||||||||||||
Total Impaired Loans | |||||||||||||||||||||||
With a | With No | Related | |||||||||||||||||||||
Recorded | Recorded | Recorded | |||||||||||||||||||||
Allowance | Allowance | Total | Allowance | ||||||||||||||||||||
30-Jun-14 | |||||||||||||||||||||||
Retail consumer loans: | |||||||||||||||||||||||
One-to-four family | $ | 17,379 | $ | 14,614 | $ | 31,993 | $ | 678 | |||||||||||||||
Home equity lines of credit | 2,445 | 2,305 | 4,750 | 166 | |||||||||||||||||||
Construction and land/lots | 1,737 | 109 | 1,846 | 411 | |||||||||||||||||||
Indirect auto finance | - | - | - | - | |||||||||||||||||||
Consumer | 16 | 11 | 27 | 3 | |||||||||||||||||||
Commercial loans: | |||||||||||||||||||||||
Commercial real estate | 6,228 | 9,114 | 15,342 | 166 | |||||||||||||||||||
Construction and development | 1,043 | 5,088 | 6,131 | 54 | |||||||||||||||||||
Commercial and industrial | 835 | 1,903 | 2,738 | 13 | |||||||||||||||||||
Municipal leases | - | - | - | - | |||||||||||||||||||
Total impaired loans | $ | 29,683 | $ | 33,144 | $ | 62,827 | $ | 1,491 | |||||||||||||||
The table above includes $15,026 and $12,406, of impaired loans that were not individually evaluated at September 30, 2014 and June 30, 2014, respectively, because these loans did not meet the Company’s threshold for individual impairment evaluation. The recorded allowance above includes $192 and $427 related to these loans that were not individually evaluated at September 30, 2014 and June 30, 2014, respectively. | |||||||||||||||||||||||
The Company’s average recorded investment in loans individually evaluated for impairment and interest income recognized on impaired loans for the three months ended September 30, 2014 and 2013 was as follows: | |||||||||||||||||||||||
Three Months Ended | |||||||||||||||||||||||
30-Sep-14 | 30-Sep-13 | ||||||||||||||||||||||
Average | Unpaid | Interest | Average | Unpaid | Interest | ||||||||||||||||||
Recorded | Principal | Income | Recorded | Principal | Income | ||||||||||||||||||
Investment | Balance | Recognized | Investment | Balance | Recognized | ||||||||||||||||||
Retail consumer loans: | |||||||||||||||||||||||
One-to-four family | $ | 31,842 | $ | 35,147 | $ | 451 | $ | 44,682 | $ | 48,252 | $ | 364 | |||||||||||
Home equity lines of credit | 4,710 | 6,348 | 75 | 5,938 | 8,970 | 70 | |||||||||||||||||
Construction and land/lots | 2,098 | 3,675 | 36 | 2,556 | 5,023 | 42 | |||||||||||||||||
Indirect auto finance | - | - | - | - | - | - | |||||||||||||||||
Consumer | 31 | 1,147 | 3 | 59 | 181 | 1 | |||||||||||||||||
Commercial loans: | |||||||||||||||||||||||
Commercial real estate | 16,903 | 26,291 | 210 | 26,535 | 30,055 | 143 | |||||||||||||||||
Construction and development | 6,103 | 9,541 | 32 | 10,978 | 15,368 | 33 | |||||||||||||||||
Commercial and industrial | 2,901 | 5,042 | 76 | 2,860 | 3,471 | 38 | |||||||||||||||||
Municipal leases | 152 | 303 | - | - | - | - | |||||||||||||||||
Total loans | $ | 64,738 | $ | 87,494 | $ | 883 | $ | 93,608 | $ | 111,320 | $ | 691 | |||||||||||
A summary of changes in the accretable yield for PCI loans for the three months ended September 30, 2014 and 2013 was as follows. | |||||||||||||||||||||||
Three Months Ended | |||||||||||||||||||||||
September 30, | September 30, | ||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||
Accretable yield, beginning of period | $ | 6,151 | $ | - | |||||||||||||||||||
Addition from the Bank of Commerce acquisition | 7,315 | 1,835 | |||||||||||||||||||||
Interest income | -931 | -100 | |||||||||||||||||||||
Accretable yield, end of period | $ | 12,535 | $ | 1,735 | |||||||||||||||||||
The following table presents the purchased performing loans receivable for Bank of Commerce at September 30, 2014 and July 31, 2014 (the combination date): | |||||||||||||||||||||||
September 30, | July 31, | ||||||||||||||||||||||
2014 | 2014 | ||||||||||||||||||||||
Contractually required principal payments receivable | $ | 46,812 | $ | 47,291 | |||||||||||||||||||
Adjustment for credit, interest rate, and liquidity | 1,150 | 1,159 | |||||||||||||||||||||
Balance of purchased loans receivable | $ | 45,662 | $ | 46,132 | |||||||||||||||||||
The following table presents the PCI loans for Bank of Commerce at July 31, 2014, the acquisition date: | |||||||||||||||||||||||
July 31, | |||||||||||||||||||||||
2014 | |||||||||||||||||||||||
Contractually required principal and interest payments receivable | $ | 49,870 | |||||||||||||||||||||
Amounts not expected to be collected – nonaccretable difference | 2,300 | ||||||||||||||||||||||
Estimated payments expected to be received | 47,570 | ||||||||||||||||||||||
Accretable yield | 7,315 | ||||||||||||||||||||||
Fair value of PCI loans | $ | 40,255 | |||||||||||||||||||||
For the three months ended September 30, 2014 and 2013, the following table presents a breakdown of the types of concessions made on TDRs by loan class: | |||||||||||||||||||||||
Three Months Ended | Three Months Ended | ||||||||||||||||||||||
30-Sep-14 | 30-Sep-13 | ||||||||||||||||||||||
Number of Loans | Pre Modification Outstanding Recorded Investment | Post Modification Outstanding Recorded Investment | Number of Loans | Pre Modification Outstanding Recorded Investment | Post Modification Outstanding Recorded Investment | ||||||||||||||||||
Below market interest rate: | |||||||||||||||||||||||
Retail consumer: | |||||||||||||||||||||||
One-to-four family | - | $ | - | $ | - | 1 | $ | 18 | $ | 17 | |||||||||||||
Total | - | $ | - | $ | - | 1 | $ | 18 | $ | 17 | |||||||||||||
Extended term: | |||||||||||||||||||||||
Retail consumer: | |||||||||||||||||||||||
One-to-four family | 1 | $ | 146 | $ | 147 | - | $ | - | $ | - | |||||||||||||
Home equity lines of credit | 1 | 46 | 46 | - | - | - | |||||||||||||||||
Total | 2 | $ | 192 | $ | 193 | - | $ | - | $ | - | |||||||||||||
Other TDRs: | |||||||||||||||||||||||
Retail consumer: | |||||||||||||||||||||||
One-to-four family | 4 | $ | 314 | $ | 324 | 3 | $ | 572 | $ | 576 | |||||||||||||
Home equity lines of credit | 1 | 100 | 105 | - | - | - | |||||||||||||||||
Construction and land/lots | 1 | 106 | 100 | 1 | 135 | 135 | |||||||||||||||||
Total | 6 | $ | 520 | $ | 529 | 4 | $ | 707 | $ | 711 | |||||||||||||
Total | 8 | $ | 712 | $ | 722 | 5 | $ | 725 | $ | 728 | |||||||||||||
The following table presents loans that were modified as TDRs within the previous 12 months and for which there was a payment default during the three months ended September 30, 2014 and 2013: | |||||||||||||||||||||||
Three Months Ended | Three Months Ended | ||||||||||||||||||||||
30-Sep-14 | 30-Sep-13 | ||||||||||||||||||||||
Number of | Recorded | Number of | Recorded | ||||||||||||||||||||
Loans | Investment | Loans | Investment | ||||||||||||||||||||
Below market interest rate: | |||||||||||||||||||||||
Total | - | $ | - | - | $ | - | |||||||||||||||||
Extended payment terms: | |||||||||||||||||||||||
Retail consumer: | |||||||||||||||||||||||
One-to-four family | - | - | 1 | $ | 10 | ||||||||||||||||||
Home equity lines of credit | - | - | 1 | 11 | |||||||||||||||||||
Commercial: | |||||||||||||||||||||||
Commercial and Industrial | - | - | 1 | 25 | |||||||||||||||||||
Total | - | $ | - | 3 | $ | 46 | |||||||||||||||||
Other TDRs: | |||||||||||||||||||||||
Retail consumer: | |||||||||||||||||||||||
One-to-four family | 4 | $ | 312 | 7 | $ | 1,523 | |||||||||||||||||
Home equity lines of credit | - | - | 1 | 48 | |||||||||||||||||||
Construction and land/lots | - | - | 1 | 135 | |||||||||||||||||||
Commercial: | |||||||||||||||||||||||
Commercial real estate | - | - | 3 | 381 | |||||||||||||||||||
Total | 4 | $ | 312 | 12 | $ | 2,087 | |||||||||||||||||
Total | 6 | $ | 312 | 15 | $ | 2,133 | |||||||||||||||||
Other TDRs include TDRs that have a below market interest rate and extended payment terms. The Company does not typically forgive principal when restructuring troubled debt. | |||||||||||||||||||||||
In the determination of the allowance for loan losses, management considers TDRs for all loan classes, and the subsequent nonperformance in accordance with their modified terms, by measuring impairment on a loan-by-loan basis based on either the value of the loan’s expected future cash flows discounted at the loan’s original effective interest rate or on the collateral value, net of the estimated costs of disposal, if the loan is collateral dependent. | |||||||||||||||||||||||
6_Net_Income_Per_Share
6. Net Income Per Share | 3 Months Ended | ||||||
Sep. 30, 2014 | |||||||
Notes | ' | ||||||
6. Net Income Per Share | ' | ||||||
6. Net income per Share | |||||||
Per the provisions of FASB ASC 260, Earnings Per Share, nonvested share-based payment awards that contain nonforfeitable rights to dividends or dividend equivalents are participating securities and are included in the computation of earnings per share pursuant to the two-class method. The two-class method is an earnings allocation formula that determines earnings per share for each class of common stock and participating security according to dividends declared (or accumulated) and participation rights in undistributed earnings. ESOP shares are considered outstanding for basic and diluted earnings per share when the shares are committed to be released. | |||||||
Net income is allocated between the common stock and participating securities pursuant to the two-class method, based on their rights to receive dividends, participate in earnings, or absorb losses. Basic earnings per common shares is computed by dividing net earnings available to common shareholders by the weighted average number of common shares outstanding during the period, excluding participating nonvested restricted shares. | |||||||
The following is a reconciliation of the numerator and denominator of basic and diluted net income per share of common stock (in thousands, except share and per share data): | |||||||
Three Months Ended | |||||||
September 30, | |||||||
2014 | 2013 | ||||||
Numerator: | |||||||
Net income available to common stockholders | $ | 2,256 | $ | 3,327 | |||
Denominator: | |||||||
Weighted-average common shares outstanding - basic | 19,178,607 | 19,288,154 | |||||
Effect of dilutive shares | 64,115 | 89,742 | |||||
Weighted-average common shares outstanding - diluted | 19,242,722 | 19,377,896 | |||||
Net income per share - basic | $ | 0.12 | $ | 0.17 | |||
Net income per share - diluted | $ | 0.12 | $ | 0.17 | |||
There were 1,495,500 and 1,557,000 outstanding stock options that were anti-dilutive for the three months ended September 30, 2014 and 2013, respectively. | |||||||
7_Equity_Incentive_Plan
7. Equity Incentive Plan | 3 Months Ended | |||||||
Sep. 30, 2014 | ||||||||
Notes | ' | |||||||
7. Equity Incentive Plan | ' | |||||||
7. Equity Incentive Plan | ||||||||
On January 17, 2013, the Company’s stockholders approved the 2013 Omnibus Incentive Plan, which provides for awards of restricted stock, restricted stock units, stock options, stock appreciation rights and cash awards to directors, emeritus directors, officers, employees and advisory directors. The cost of equity-based awards under the 2013 Omnibus Incentive Plan generally is based on the fair value of the awards on their grant date. The maximum number of shares that may be utilized for awards under the plan is 2,962,400, including 2,116,000 for stock options and stock appreciation rights and 846,400 for awards of restricted stock and restricted stock units. | ||||||||
Shares of common stock issued under the 2013 Omnibus Incentive Plan may be authorized but unissued shares or repurchased shares. During fiscal 2013, the Company had repurchased all 846,400 shares on the open market for issuance under the 2013 Omnibus Incentive Plan, for $13.3 million, at an average cost of $15.71 per share. | ||||||||
Share based compensation expense related to stock options and restricted stock recognized for the three months ended September 30, 2014 and 2013 was $753 and $668, respectively, before the tax related benefit of $279 and $247, respectively. | ||||||||
The table below presents stock option activity for the three months ended September 30, 2014 and 2013: | ||||||||
Weighted- | Remaining | |||||||
average | contractual | Aggregate | ||||||
exercise | life | Intrinsic | ||||||
Options | price | (years) | Value | |||||
Options outstanding at June 30, 2013 | 1,557,000 | $14.37 | 9.6 | $4,033 | ||||
Granted | - | - | - | - | ||||
Exercised | - | - | - | - | ||||
Forfeited | - | - | - | - | ||||
Expired | - | - | - | - | ||||
Options outstanding at September 30, 2013 | 1,557,000 | $14.37 | 9.3 | $3,316 | ||||
Options outstanding at June 30, 2014 | 1,513,500 | $14.40 | 8.6 | $2,077 | ||||
Granted | - | - | - | - | ||||
Exercised | 18,000 | 14.37 | - | - | ||||
Forfeited | - | - | - | - | ||||
Expired | - | - | - | - | ||||
Options outstanding at September 30, 2014 | 1,495,500 | $14.40 | 8.4 | $352 | ||||
Exercisable at September 30, 2014 | 272,175 | $14.37 | 8.4 | |||||
The fair value of each option is estimated on the date of grant using the Black-Scholes-Merton option pricing model. The weighted average fair value of each option granted in 2014 and 2013 was $5.26 and $4.50, respectively. Assumptions used for grants were as follows: | ||||||||
Assumptions in Estimating Option Values | ||||||||
2014 | 2013 | |||||||
Weighted-average volatility | 28.19% | 28.19% | ||||||
Expected dividend yield | 0.00% | 0.00% | ||||||
Risk-free interest rate | 2.04% | 1.28% | ||||||
Expected life (years) | 6.5 | 6.6 | ||||||
At September 30, 2014, the Company had $4.7 million of unrecognized compensation expense related to 1,495,500 stock options scheduled to vest over five- and seven-year vesting periods. The weighted average period over which compensation cost related to non-vested awards expected to be recognized was 2.0 years at September 30, 2014. At September 30, 2013, the Company had $6.1 million of unrecognized compensation expense related to 1,557,000 stock options scheduled to vest over five- and seven-year vesting periods. The weighted average period over which compensation cost related to non-vested awards expected to be recognized was 4.5 years at September 30, 2013. No options were vested or exercisable as of September 30, 2013. | ||||||||
The table below presents restricted stock award activity for the three months ended September 30, 2014 and 2013: | ||||||||
Weighted- | Aggregate | |||||||
Restricted | average grant | Intrinsic | ||||||
stock awards | date fair value | Value | ||||||
Non-vested at June 30, 2013 | 511,300 | $14.37 | $8,672 | |||||
Granted | - | - | - | |||||
Vested | - | - | - | |||||
Forfeited | - | - | - | |||||
Non-vested at September 30, 2013 | 511,300 | $14.37 | $8,436 | |||||
Non-vested at June 30, 2014 | 403,965 | $14.39 | $6,371 | |||||
Granted | - | - | - | |||||
Vested | - | - | - | |||||
Forfeited | - | - | - | |||||
Non-vested at September 30, 2014 | 403,965 | $14.39 | $5,902 | |||||
At September 30, 2014, unrecognized compensation expense was $4.9 million related to 403,965 shares of restricted stock scheduled to vest over five- and seven-year vesting periods. The weighted average period over which compensation cost related to non-vested awards is expected to be recognized was 2.0 years at September 30, 2014. At September 30, 2013, unrecognized compensation expense was $6.4 million related to 511,300 shares of restricted stock scheduled to vest over five- and seven-year vesting periods. The weighted average period over which compensation cost related to non-vested awards is expected to be recognized was 4.5 years at September 30, 2013. | ||||||||
8_Commitments_and_Contingencie
8. Commitments and Contingencies | 3 Months Ended |
Sep. 30, 2014 | |
Notes | ' |
8. Commitments and Contingencies | ' |
8. Commitments and Contingencies | |
Loan Commitments – Legally binding 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. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Since many commitments may expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. In the normal course of business, there are various outstanding commitments to extend credit that are not reflected in the consolidated financial statements. At September 30, 2014 and June 30, 2014, respectively, loan commitments (excluding $33,636 and $27,086 of undisbursed portions of construction loans) totaled $18,533 and $28,360 of which $2,532 and $3,620 were variable rate commitments and $16,001 and $24,740 were fixed rate commitments. The fixed rate loans had interest rates ranging from 1.99% to 8.00% at September 30, 2014 and 1.85% to 10.51% at June 30, 2014, and terms ranging from 1 to 30 years. Pre-approved but unused lines of credit (principally second mortgage home equity loans and overdraft protection loans) totaled $204,047 and $167,630 at September 30, 2014 and June 30, 2014, respectively. These amounts represent the Company’s exposure to credit risk, and in the opinion of management have no more than the normal lending risk that the Company commits to its borrowers. The Company has freestanding derivative instruments consisting of commitments to originate fixed rate conforming loans and commitments to sell fixed rate conforming loans. The fair value of these commitments was not material at September 30, 2014 or June 30, 2014. | |
The Company grants construction and permanent loans collateralized primarily by residential and commercial real estate to customers throughout its primary market area. In addition, the Company grants municipal leases to customers throughout North and South Carolina. The Company’s loan portfolio can be affected by the general economic conditions within these market areas. Management believes that the Company has no concentration of credit in the loan portfolio. | |
Restrictions on Cash – The Bank is required by regulation to maintain a varying cash reserve balance with the Federal Reserve System. The daily average calculated cash reserve required as of September 30, 2014 and June 30, 2014 was $11,631, and $8,087, respectively, which was satisfied by vault cash and balances held at the Federal Reserve. | |
Guarantees – Standby letters of credit obligate the Company to meet certain financial obligations of its customers, if, under the contractual terms of the agreement, the customers are unable to do so. The financial standby letters of credit issued by the Company are irrevocable and payment is only guaranteed upon the borrower’s failure to perform its obligations to the beneficiary. Total commitments under standby letters of credit as of September 30, 2014 and June 30, 2014 were $1,520 and $483. There was no liability recorded for these letters of credit at September 30, 2014 or June 30, 2014, respectively. | |
Litigation – The Company is involved in several litigation matters in the ordinary course of business. One matter, originally filed in March 2012, involves claims of $12.5 million in compensatory damages and a request for additional punitive treble damages resulting from the purported failure of the Company and a third party brokerage firm to discover a Ponzi scheme conducted by a customer holding accounts at each entity. The Company believes that the lawsuit is without merit and intends to defend itself vigorously. Management, after review with its legal counsel, is of the opinion that this litigation should not have a material effect on the Company’s financial position or results of operations, although new developments could result in management modifying its assessment. There can be no assurance that the Company will successfully defend or resolve this litigation matter. | |
The Company is also subject to a variety of other legal matters that have arisen in the ordinary course of our business. In the current economic environment, litigation has increased significantly, primarily as a result of defaulted borrowers asserting claims to defeat or delay foreclosure proceedings. There can be no assurance that loan workouts and other activities will not expose the Company to additional legal actions, including lender liability or environmental claims. Therefore, the Company may be exposed to substantial liabilities, which could adversely affect its results of operations and financial condition. Moreover, the expenses of legal proceedings will adversely affect its results of operations until they are resolved. | |
9_Fair_Value_of_Financial_Inst
9. Fair Value of Financial Instruments | 3 Months Ended | ||||||||||||||
Sep. 30, 2014 | |||||||||||||||
Notes | ' | ||||||||||||||
9. Fair Value of Financial Instruments | ' | ||||||||||||||
9. Fair Value of Financial Instruments | |||||||||||||||
The Company utilizes fair value measurements to record fair value adjustments to certain assets and to determine fair value disclosures. Securities available for sale are recorded at fair value on a recurring basis. Additionally, from time to time, the Company may be required to record at fair value other assets on a nonrecurring basis, such as impaired loans. These nonrecurring fair value adjustments typically involve application of lower of cost or market accounting or write-downs of individual assets. | |||||||||||||||
Fair Value Hierarchy | |||||||||||||||
The Company groups assets at fair value in three levels, based on the markets in which the assets are traded and the reliability of the assumptions used to determine fair value. These levels are: | |||||||||||||||
Level 1: Valuation is based upon quoted prices for identical instruments traded in active markets. | |||||||||||||||
Level 2: Valuation is based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant assumptions are observable in the market. | |||||||||||||||
Level 3: Valuation is generated from model-based techniques that use at least one significant assumption not observable in the market. These unobservable assumptions reflect estimates of assumptions that market participants would use in pricing the asset. Valuation techniques include use of option pricing models, discounted cash flow models and similar techniques. | |||||||||||||||
Following is a description of valuation methodologies used for assets recorded at fair value. The Company does not have any liabilities recorded at fair value. | |||||||||||||||
Investment Securities Available for Sale | |||||||||||||||
Securities available for sale are valued on a recurring basis at quoted market prices where available. If quoted market prices are not available, fair values are based on quoted prices of comparable securities. Level 1 securities include those traded on an active exchange, such as the New York Stock Exchange or U.S. Treasury securities that are traded by dealers or brokers in active over-the-counter markets and money market funds. Level 2 securities include mortgage-backed securities and debentures issued by government sponsored enterprises, municipal bonds, and corporate debt securities. | |||||||||||||||
Loans | |||||||||||||||
The Company does not record loans at fair value on a recurring basis. From time to time, however, a loan is considered impaired and an allowance for loan losses is established. Loans for which it is probable that payment of interest and principal will not be made in accordance with the contractual terms of the loan agreement are considered impaired. Once a loan is identified as individually impaired, the fair value is estimated using one of several methods, including collateral value, market value of similar debt, enterprise value, liquidation value and discounted cash flows. The Company reviews all impaired loans each quarter to determine if an allowance is necessary. Those impaired loans not requiring an allowance represent loans for which the fair value of the expected repayments or collateral exceed the recorded investments in such loans. | |||||||||||||||
At September 30, 2014 and June 30, 2014, most of the total impaired loans were evaluated based on the fair value of the collateral. For these collateral dependent impaired loans, the Company obtains updated appraisals at least annually. These appraisals are reviewed for appropriateness and then discounted for estimated closing costs to determine if an allowance is necessary. As part of the quarterly review of impaired loans, the Company reviews these appraisals to determine if any additional discounts to the fair value are necessary. If a current appraisal is not obtained, the Company determines whether a discount is needed to the value from the original appraisal based on the decline in value of similar properties with recent appraisals. Impaired loans where a charge-off has occurred or an allowance is established during the period being reported require classification in the fair value hierarchy. The Company records all impaired loans with an allowance as nonrecurring Level 3. | |||||||||||||||
Loans Held for Sale | |||||||||||||||
Loans held for sale are adjusted to lower of cost or fair value. Fair value is based upon investor pricing. The Company considers all loans held for sale carried at fair value as nonrecurring Level 3. | |||||||||||||||
Real Estate Owned | |||||||||||||||
REO is considered held for sale and is adjusted to fair value less estimated selling costs upon transfer of the loan to foreclosed assets. Fair value is based upon independent market prices, appraised value of the collateral or management’s estimation of the value of the collateral. The Company considers all REO carried at fair value as nonrecurring Level 3. | |||||||||||||||
The following table presents financial assets measured at fair value on a recurring basis at the dates indicated: | |||||||||||||||
30-Sep-14 | |||||||||||||||
Description | Total | Level 1 | Level 2 | Level 3 | |||||||||||
U.S government agencies | $ | 38,809 | $ | - | $ | 38,809 | $ | - | |||||||
Residential Mortgage-backed Securities of U.S. Government Agencies and Government Sponsored Enterprises | 117,299 | - | 117,299 | - | |||||||||||
Municipal Bonds | 16,136 | - | 16,136 | - | |||||||||||
Corporate Bonds | 3,993 | - | 3,993 | - | |||||||||||
Total | $ | 176,237 | $ | - | $ | 176,237 | $ | - | |||||||
30-Jun-14 | |||||||||||||||
Description | Total | Level 1 | Level 2 | Level 3 | |||||||||||
U.S government agencies | $ | 38,093 | $ | - | $ | 38,093 | $ | - | |||||||
Residential Mortgage-backed Securities of U.S. Government Agencies and Government Sponsored Enterprises | 111,411 | - | 111,411 | - | |||||||||||
Municipal Bonds | 16,220 | - | 16,220 | - | |||||||||||
Corporate Bonds | 3,025 | - | 3,025 | - | |||||||||||
Total | $ | 168,749 | $ | - | $ | 168,749 | $ | - | |||||||
The following table presents financial assets measured at fair value on a non-recurring basis during the periods indicated: | |||||||||||||||
Three Months Ended September 30, 2014 | |||||||||||||||
Description | Total | Level 1 | Level 2 | Level 3 | |||||||||||
Impaired loans | $ | 2,534 | $ | - | $ | - | $ | 2,534 | |||||||
REO | 333 | - | - | 333 | |||||||||||
Total | $ | 2,867 | $ | - | $ | - | $ | 2,867 | |||||||
Year Ended June 30, 2014 | |||||||||||||||
Description | Total | Level 1 | Level 2 | Level 3 | |||||||||||
Impaired loans | $ | 3,686 | $ | - | $ | - | $ | 3,686 | |||||||
REO | 9,185 | - | - | 9,185 | |||||||||||
Total | $ | 12,871 | $ | - | $ | - | $ | 12,871 | |||||||
Quantitative information about Level 3 fair value measurements during the period ended September 30, 2014 is shown in the table below: | |||||||||||||||
Fair Value at | |||||||||||||||
September 30, | Valuation | Unobservable | Weighted | ||||||||||||
2014 | Techniques | Input | Range | Average | |||||||||||
Nonrecurring measurements: | |||||||||||||||
Impaired loans, net | $ | 2,534 | Discounted appraisals | Collateral discounts | 3% - 49% | 23% | |||||||||
REO | $ | 333 | Discounted appraisals | Collateral discounts | 15% - 28% | 18% | |||||||||
The stated carrying value and estimated fair value amounts of financial instruments as of September 30, 2014 and June 30, 2014, are summarized below: | |||||||||||||||
30-Sep-14 | |||||||||||||||
Carrying | Fair | ||||||||||||||
Value | Value | Level 1 | Level 2 | Level 3 | |||||||||||
Cash and interest-bearing deposits | $ | 32,223 | $ | 32,223 | $ | 32,223 | $ | - | $ | - | |||||
Certificates of deposit in other banks | 175,869 | 175,869 | - | 175,869 | - | ||||||||||
Securities available for sale | 176,237 | 176,237 | - | 176,237 | - | ||||||||||
Other investments | 12,758 | 12,758 | 12,758 | ||||||||||||
Loans held for sale | 2,632 | 2,674 | - | - | 2,674 | ||||||||||
Loans, net | 1,585,134 | 1,486,612 | - | - | 1,486,612 | ||||||||||
Accrued interest receivable | 7,270 | 7,270 | - | 855 | 6,415 | ||||||||||
Non-interest-bearing and NOW deposits | 445,743 | 445,743 | - | 445,743 | - | ||||||||||
Money market accounts | 405,334 | 405,334 | - | 405,334 | - | ||||||||||
Savings accounts | 194,835 | 194,835 | - | 194,835 | - | ||||||||||
Certificates of deposit | 612,881 | 614,382 | - | 614,382 | - | ||||||||||
Other borrowings | 112,000 | 112,000 | - | 112,000 | - | ||||||||||
Accrued interest payable | 211 | 211 | - | 211 | - | ||||||||||
30-Jun-14 | |||||||||||||||
Carrying | Fair | ||||||||||||||
Value | Value | Level 1 | Level 2 | Level 3 | |||||||||||
Cash and interest-bearing deposits | $ | 45,830 | $ | 45,830 | $ | 45,830 | $ | - | $ | - | |||||
Certificates of deposit in other banks | 163,780 | 163,780 | - | 163,780 | - | ||||||||||
Securities available for sale | 168,749 | 168,749 | - | 168,749 | - | ||||||||||
Other investments | 3,697 | 3,697 | 3,697 | ||||||||||||
Loans held for sale | 2,537 | 2,578 | - | - | 2,578 | ||||||||||
Loans, net | 1,473,099 | 1,381,438 | - | - | 1,381,438 | ||||||||||
Accrued interest receivable | 6,787 | 6,787 | - | 736 | 6,051 | ||||||||||
Non-interest-bearing and NOW deposits | 418,671 | 418,671 | - | 418,671 | - | ||||||||||
Money market accounts | 354,247 | 354,247 | - | 354,247 | - | ||||||||||
Savings accounts | 175,974 | 175,974 | - | 175,974 | - | ||||||||||
Certificates of deposit | 634,154 | 620,196 | - | 620,196 | - | ||||||||||
Other borrowings | 50,000 | 50,000 | - | 50,000 | - | ||||||||||
Accrued interest payable | 244 | 244 | - | 244 | - | ||||||||||
The Company had off-balance sheet financial commitments, which include approximately $256,216 and $223,076 of commitments to originate loans, undisbursed portions of interim construction loans, and unused lines of credit at September 30, 2014 and June 30, 2014 (see Note 8). Since these commitments are based on current rates, the carrying amount approximates the fair value. | |||||||||||||||
Estimated fair values were determined using the following methods and assumptions: | |||||||||||||||
Cash and interest-bearing deposits – The stated amounts approximate fair values as maturities are less than 90 days. | |||||||||||||||
Certificates of deposit in other banks – The stated amounts approximate fair values. | |||||||||||||||
Securities available for sale and investment securities – Fair values are based on quoted market prices where available. If quoted market prices are not available, fair values are based on quoted market prices of comparable instruments. | |||||||||||||||
Loans held for sale - The fair value of loans held for sale is determined by outstanding commitments from investors on a “best efforts” basis or current investor yield requirements, calculated on the aggregate loan basis. | |||||||||||||||
Loans, net – Fair values for loans are estimated by segregating the portfolio by type of loan and discounting scheduled cash flows using current market interest rates for loans with similar terms and credit quality. A prepayment assumption is used as an estimate of the portion of loans that will be repaid prior to their scheduled maturity. Both the carrying value and estimated fair value amounts are shown net of the allowance for loan losses. | |||||||||||||||
Other investments – This represents stock in the FHLB of Atlanta and Federal Reserve Bank with no existing market and no quoted market value. However, redemption of this stock has historically been at par value. Accordingly, cost is deemed to be a reasonable estimate of fair value. | |||||||||||||||
Deposits – Fair values for demand deposits, money market accounts, and savings accounts are the amounts payable on demand as of September 30, 2014 and June 30, 2014. The fair value of certificates of deposit is estimated by discounting the contractual cash flows using current market interest rates for accounts with similar maturities. | |||||||||||||||
Other borrowings – The fair value of advances from the FHLB is estimated based on current rates for borrowings with similar terms. | |||||||||||||||
Accrued interest receivable and payable – The stated amounts of accrued interest receivable and payable approximate the fair value. | |||||||||||||||
Limitations – Fair value estimates are made at a specific point in time, based on relevant market information and information about the financial instrument. These estimates do not reflect any premium or discount that could result from offering for sale at one time the Company’s entire holdings of a particular financial instrument. Because no market exists for a significant portion of the Company’s financial instruments, fair value estimates are based on judgments regarding future expected loss experience, current economic conditions, risk characteristics of various financial instruments, and other factors. These estimates are subjective in nature and involve uncertainties and matters of significant judgment and therefore cannot be determined with precision. Changes in assumptions could significantly affect the estimates. | |||||||||||||||
Fair value estimates are based on existing on-and-off balance sheet financial instruments without attempting to estimate the value of anticipated future business and the value of assets and liabilities that are not considered financial instruments. For example, a significant asset not considered a financial asset is premises and equipment. In addition, tax ramifications related to the realization of the unrealized gains and losses can have a significant effect on fair value estimates and have not been considered in any of the estimates. | |||||||||||||||
10_Subsequent_Events
10. Subsequent Events | 3 Months Ended |
Sep. 30, 2014 | |
Notes | ' |
10. Subsequent Events | ' |
10. Subsequent Events | |
On August 13, 2014, the Bank received approval from the Office of the Comptroller of the Currency to purchase the branch banking operations of ten locations in Virginia and North Carolina from Bank of America Corporation. Six of the branches are located in Roanoke Valley, two in Danville, one in Martinsville, Virginia, and one in Eden, North Carolina. The acquisition will add approximately $504 million of deposits. In addition to the branches, the Bank will acquire a small amount of loans as part of the transaction. The Bank expects the purchase to be effective Monday, November 17, 2014, following satisfaction of customary closing conditions. | |
3_Business_Combinations_Busine
3. Business Combinations: Business Combination Policy -- Bank of Commerce (Policies) | 3 Months Ended |
Sep. 30, 2014 | |
Policies | ' |
Business Combination Policy -- Bank of Commerce | ' |
On July 31, 2014, the Bank completed its acquisition of Bank of Commerce in accordance with the terms of the Agreement and Plan of Share Exchange dated March 3, 2014. Under the terms of the agreement, Bank of Commerce shareholders received $6.25 per share in cash consideration, representing approximately $10.1 million of aggregate deal consideration. In addition, all $3.2 million of Bank of Commerce’s preferred stock was redeemed. | |
Bank of Commerce was accounted for using the acquisition method of accounting and, accordingly, assets acquired, liabilities assumed and consideration exchanged were recorded at acquisition date fair values. Fair values are preliminary and subject to refinement for up to one year after the closing date of the acquisition as additional information regarding the closing date fair values becomes available. The excess of the merger consideration over the fair value of Bank of Commerce’s net assets was allocated to goodwill. The book value as of July 31, 2014, of assets acquired was $122.5 million and liabilities assumed was $114.7 million. The Company recorded $4.0 million in goodwill related to the acquisition. |
3_Business_Combinations_Busine1
3. Business Combinations: Business Combination Policy -- Jefferson Bancshares (Policies) | 3 Months Ended |
Sep. 30, 2014 | |
Policies | ' |
Business Combination Policy -- Jefferson Bancshares | ' |
On May 31, 2014, the Company completed its acquisition of Jefferson Bancshares, Inc. (“Jefferson”) in accordance with the terms of the Agreement and Plan of Merger dated January 22, 2014. Under the terms of the agreement, Jefferson shareholders received 0.2661 shares of HomeTrust common stock, and $4.00 in cash for each share of Jefferson common stock. This represents approximately $50.5 million of aggregate deal consideration. | |
Jefferson was accounted for using the acquisition method of accounting and, accordingly, assets acquired, liabilities assumed and consideration exchanged were recorded at acquisition date fair values. Fair values are preliminary and subject to refinement for up to one year after the closing date of the acquisition as additional information regarding the closing date fair values becomes available. The excess of the merger consideration over the fair value of Jefferson’s net assets was allocated to goodwill. The book value as of May 31, 2014, of assets acquired was $494.3 million and liabilities assumed was $441.9 million. The Company recorded $7.0 million in goodwill related to the acquisition. |
3_Business_Combinations_Busine2
3. Business Combinations: Business Combination Policy -- BankGreenville Corporation (Policies) | 3 Months Ended |
Sep. 30, 2014 | |
Policies | ' |
Business Combination Policy -- BankGreenville Corporation | ' |
On July 31, 2013, the Company completed its acquisition of BankGreenville Financial Corporation (“BankGreenville”) in accordance with the terms of the Agreement and Plan of Merger dated May 3, 2013. Under the terms of the agreement, BankGreenville shareholders received $6.63 per share in cash consideration. This represents approximately $7.8 million of aggregate deal consideration. Additional contingent cash consideration of up to $0.75 per share (or approximately $883,000) may be realized at the expiration of 24 months based on the performance of a select pool of loans totaling approximately $8.0 million. | |
BankGreenville was accounted for using the acquisition method of accounting and, accordingly, assets acquired, liabilities assumed and consideration exchanged were recorded at acquisition date fair values. The excess of the merger consideration over the fair value of BankGreenville’s net assets was allocated to goodwill. The book value as of July 31, 2013, of assets acquired was $102.2 million and liabilities assumed was $94.1 million. The Company recorded $2.8 million in goodwill related to the acquisition. |
4_Securities_Available_For_Sal1
4. Securities Available For Sale: Securities Available for Sale Pledged as Collateral Policy (Policies) | 3 Months Ended |
Sep. 30, 2014 | |
Policies | ' |
Securities Available for Sale Pledged as Collateral Policy | ' |
Securities available for sale with costs totaling $42,355 and $51,036 with market values of $42,546 and $51,297 at September 30, 2014 and June 30, 2014, respectively, were pledged as collateral to secure various public deposits. | |
4_Securities_Available_For_Sal2
4. Securities Available For Sale: Securities With Unrealized Losses Policy (Policies) | 3 Months Ended |
Sep. 30, 2014 | |
Policies | ' |
Securities With Unrealized Losses Policy | ' |
The total number of securities with unrealized losses at September 30, 2014, and June 30, 2014 were 148 and 159, respectively. Unrealized losses on securities have not been recognized in income because management has the intent and ability to hold the securities for the foreseeable future, and has determined that it is not more likely than not that the Company will be required to sell the securities prior to a recovery in value. The decline in fair value was largely due to increases in market interest rates. The Company had no other than temporary impairment losses during the three months ended September 30, 2014 or the year ended June 30, 2014. | |
As a requirement for membership, the Bank invests in stock of the FHLB of Atlanta and the Federal Reserve Bank. No ready market exists for this stock and the carrying value approximates its fair value based on the redemption provisions of the FHLB of Atlanta and the Federal Reserve Bank. |
5_Loans_Impaired_Financing_Rec
5. Loans: Impaired Financing Receivable, Policy (Policies) | 3 Months Ended |
Sep. 30, 2014 | |
Policies | ' |
Impaired Financing Receivable, Policy | ' |
The table above includes $15,026 and $12,406, of impaired loans that were not individually evaluated at September 30, 2014 and June 30, 2014, respectively, because these loans did not meet the Company’s threshold for individual impairment evaluation. The recorded allowance above includes $192 and $427 related to these loans that were not individually evaluated at September 30, 2014 and June 30, 2014, respectively. |
6_Net_Income_Per_Share_Earning
6. Net Income Per Share: Earnings Per Share, Policy (Policies) | 3 Months Ended |
Sep. 30, 2014 | |
Policies | ' |
Earnings Per Share, Policy | ' |
There were 1,495,500 and 1,557,000 outstanding stock options that were anti-dilutive for the three months ended September 30, 2014 and 2013, respectively. |
7_Equity_Incentive_Plan_Equity
7. Equity Incentive Plan: Equity Incentive Plan Policy (Policies) | 3 Months Ended |
Sep. 30, 2014 | |
Policies | ' |
Equity Incentive Plan Policy | ' |
On January 17, 2013, the Company’s stockholders approved the 2013 Omnibus Incentive Plan, which provides for awards of restricted stock, restricted stock units, stock options, stock appreciation rights and cash awards to directors, emeritus directors, officers, employees and advisory directors. The cost of equity-based awards under the 2013 Omnibus Incentive Plan generally is based on the fair value of the awards on their grant date. The maximum number of shares that may be utilized for awards under the plan is 2,962,400, including 2,116,000 for stock options and stock appreciation rights and 846,400 for awards of restricted stock and restricted stock units. | |
Shares of common stock issued under the 2013 Omnibus Incentive Plan may be authorized but unissued shares or repurchased shares. During fiscal 2013, the Company had repurchased all 846,400 shares on the open market for issuance under the 2013 Omnibus Incentive Plan, for $13.3 million, at an average cost of $15.71 per share. | |
Share based compensation expense related to stock options and restricted stock recognized for the three months ended September 30, 2014 and 2013 was $753 and $668, respectively, before the tax related benefit of $279 and $247, respectively. |
7_Equity_Incentive_Plan_Fair_V
7. Equity Incentive Plan: Fair Value Options Granted Policy (Policies) | 3 Months Ended |
Sep. 30, 2014 | |
Policies | ' |
Fair Value Options Granted Policy | ' |
The fair value of each option is estimated on the date of grant using the Black-Scholes-Merton option pricing model. The weighted average fair value of each option granted in 2014 and 2013 was $5.26 and $4.50, respectively. Assumptions used for grants were as follows: |
7_Equity_Incentive_Plan_Unreco
7. Equity Incentive Plan: Unrecognized Compensation Expenses for Stock Options Policy (Policies) | 3 Months Ended |
Sep. 30, 2014 | |
Policies | ' |
Unrecognized Compensation Expenses for Stock Options Policy | ' |
At September 30, 2014, the Company had $4.7 million of unrecognized compensation expense related to 1,495,500 stock options scheduled to vest over five- and seven-year vesting periods. The weighted average period over which compensation cost related to non-vested awards expected to be recognized was 2.0 years at September 30, 2014. At September 30, 2013, the Company had $6.1 million of unrecognized compensation expense related to 1,557,000 stock options scheduled to vest over five- and seven-year vesting periods. The weighted average period over which compensation cost related to non-vested awards expected to be recognized was 4.5 years at September 30, 2013. No options were vested or exercisable as of September 30, 2013. |
7_Equity_Incentive_Plan_Unreco1
7. Equity Incentive Plan: Unrecognized Compensation Expenses for Restricted Stock Policy (Policies) | 3 Months Ended |
Sep. 30, 2014 | |
Policies | ' |
Unrecognized Compensation Expenses for Restricted Stock Policy | ' |
At September 30, 2014, unrecognized compensation expense was $4.9 million related to 403,965 shares of restricted stock scheduled to vest over five- and seven-year vesting periods. The weighted average period over which compensation cost related to non-vested awards is expected to be recognized was 2.0 years at September 30, 2014. At September 30, 2013, unrecognized compensation expense was $6.4 million related to 511,300 shares of restricted stock scheduled to vest over five- and seven-year vesting periods. The weighted average period over which compensation cost related to non-vested awards is expected to be recognized was 4.5 years at September 30, 2013. |
8_Commitments_and_Contingencie1
8. Commitments and Contingencies: Loan Commitments, Policy (Policies) | 3 Months Ended |
Sep. 30, 2014 | |
Policies | ' |
Loan Commitments, Policy | ' |
Loan Commitments – Legally binding 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. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Since many commitments may expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. In the normal course of business, there are various outstanding commitments to extend credit that are not reflected in the consolidated financial statements. At September 30, 2014 and June 30, 2014, respectively, loan commitments (excluding $33,636 and $27,086 of undisbursed portions of construction loans) totaled $18,533 and $28,360 of which $2,532 and $3,620 were variable rate commitments and $16,001 and $24,740 were fixed rate commitments. The fixed rate loans had interest rates ranging from 1.99% to 8.00% at September 30, 2014 and 1.85% to 10.51% at June 30, 2014, and terms ranging from 1 to 30 years. Pre-approved but unused lines of credit (principally second mortgage home equity loans and overdraft protection loans) totaled $204,047 and $167,630 at September 30, 2014 and June 30, 2014, respectively. These amounts represent the Company’s exposure to credit risk, and in the opinion of management have no more than the normal lending risk that the Company commits to its borrowers. The Company has freestanding derivative instruments consisting of commitments to originate fixed rate conforming loans and commitments to sell fixed rate conforming loans. The fair value of these commitments was not material at September 30, 2014 or June 30, 2014. | |
The Company grants construction and permanent loans collateralized primarily by residential and commercial real estate to customers throughout its primary market area. In addition, the Company grants municipal leases to customers throughout North and South Carolina. The Company’s loan portfolio can be affected by the general economic conditions within these market areas. Management believes that the Company has no concentration of credit in the loan portfolio. |
8_Commitments_and_Contingencie2
8. Commitments and Contingencies: Restrictions on Cash Policy (Policies) | 3 Months Ended |
Sep. 30, 2014 | |
Policies | ' |
Restrictions on Cash Policy | ' |
Restrictions on Cash – The Bank is required by regulation to maintain a varying cash reserve balance with the Federal Reserve System. The daily average calculated cash reserve required as of September 30, 2014 and June 30, 2014 was $11,631, and $8,087, respectively, which was satisfied by vault cash and balances held at the Federal Reserve. |
8_Commitments_and_Contingencie3
8. Commitments and Contingencies: Standby Letters of Credit Policy (Policies) | 3 Months Ended |
Sep. 30, 2014 | |
Policies | ' |
Standby Letters of Credit Policy | ' |
Guarantees – Standby letters of credit obligate the Company to meet certain financial obligations of its customers, if, under the contractual terms of the agreement, the customers are unable to do so. The financial standby letters of credit issued by the Company are irrevocable and payment is only guaranteed upon the borrower’s failure to perform its obligations to the beneficiary. Total commitments under standby letters of credit as of September 30, 2014 and June 30, 2014 were $1,520 and $483. There was no liability recorded for these letters of credit at September 30, 2014 or June 30, 2014, respectively. |
8_Commitments_and_Contingencie4
8. Commitments and Contingencies: Legal Matters and Contingencies (Policies) | 3 Months Ended |
Sep. 30, 2014 | |
Policies | ' |
Legal Matters and Contingencies | ' |
Litigation – The Company is involved in several litigation matters in the ordinary course of business. One matter, originally filed in March 2012, involves claims of $12.5 million in compensatory damages and a request for additional punitive treble damages resulting from the purported failure of the Company and a third party brokerage firm to discover a Ponzi scheme conducted by a customer holding accounts at each entity. The Company believes that the lawsuit is without merit and intends to defend itself vigorously. Management, after review with its legal counsel, is of the opinion that this litigation should not have a material effect on the Company’s financial position or results of operations, although new developments could result in management modifying its assessment. There can be no assurance that the Company will successfully defend or resolve this litigation matter. |
9_Fair_Value_of_Financial_Inst1
9. Fair Value of Financial Instruments: Off-Balance-Sheet Credit Exposure, Policy (Policies) | 3 Months Ended |
Sep. 30, 2014 | |
Policies | ' |
Off-Balance-Sheet Credit Exposure, Policy | ' |
The Company had off-balance sheet financial commitments, which include approximately $256,216 and $223,076 of commitments to originate loans, undisbursed portions of interim construction loans, and unused lines of credit at September 30, 2014 and June 30, 2014 (see Note 8). Since these commitments are based on current rates, the carrying amount approximates the fair value. |
10_Subsequent_Events_Branch_Pu
10. Subsequent Events: Branch Purchase from Bank of America Corporation Policy (Policies) | 3 Months Ended |
Sep. 30, 2014 | |
Policies | ' |
Branch Purchase from Bank of America Corporation Policy | ' |
On August 13, 2014, the Bank received approval from the Office of the Comptroller of the Currency to purchase the branch banking operations of ten locations in Virginia and North Carolina from Bank of America Corporation. Six of the branches are located in Roanoke Valley, two in Danville, one in Martinsville, Virginia, and one in Eden, North Carolina. The acquisition will add approximately $504 million of deposits. In addition to the branches, the Bank will acquire a small amount of loans as part of the transaction. The Bank expects the purchase to be effective Monday, November 17, 2014, following satisfaction of customary closing conditions. |
3_Business_Combinations_Schedu
3. Business Combinations: Schedule of Business Acquisition Contingent Consideration -- Bank of Commerce (Tables) | 3 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
Tables/Schedules | ' | ||||||||
Schedule of Business Acquisition Contingent Consideration -- Bank of Commerce | ' | ||||||||
The following table presents the consideration paid by the Bank in the acquisition of Bank of Commerce and the assets acquired and liabilities assumed as of July 31, 2014: | |||||||||
Fair Value and | As | ||||||||
As Recorded | Other Merger | Recorded | |||||||
By Bank of | Related | by the | |||||||
Commerce | Adjustments | Company | |||||||
Consideration Paid | |||||||||
Cash paid | $ | 10,000 | |||||||
Total consideration | $ | 10,000 | |||||||
Assets | |||||||||
Cash and cash equivalents | $ | 2,241 | $ | - | $ | 2,241 | |||
Securities available for sale | 24,228 | - | 24,228 | ||||||
Loans, net of allowance | 89,339 | -3,131 | 86,208 | ||||||
Federal Home Loan Bank (“FHLB”) Stock | 791 | - | 791 | ||||||
REO | 224 | - | 224 | ||||||
Premises and equipment, net | 135 | - | 135 | ||||||
Accrued interest receivable | 355 | -100 | 255 | ||||||
Deferred income taxes | 286 | 1,064 | 1,350 | ||||||
Core deposit intangibles | - | 640 | 640 | ||||||
Other assets | 4,931 | - | 4,931 | ||||||
Total assets acquired | $ | 122,530 | $ | -1,527 | $ | 121,003 | |||
Liabilities | |||||||||
Deposits | $ | 93,303 | $ | 112 | $ | 93,415 | |||
Other borrowings | 15,000 | 172 | 15,172 | ||||||
Other liabilities | 6,369 | - | 6,369 | ||||||
Total liabilities assumed | $ | 114,672 | $ | 284 | $ | 114,956 | |||
Net identifiable assets acquired over liabilities assumed | $ | 7,858 | $ | -1,811 | 6,047 | ||||
Goodwill | $ | 3,953 |
3_Business_Combinations_Schedu1
3. Business Combinations: Schedule of Purchased Performing Loans and Purchased Impaired Loans Acquired in Transfer -- Bank of Commerce (Tables) | 3 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
Tables/Schedules | ' | ||||||||
Schedule of Purchased Performing Loans and Purchased Impaired Loans Acquired in Transfer -- Bank of Commerce | ' | ||||||||
Purchased | Total | ||||||||
Performing | PCI | Loans | |||||||
Retail Consumer Loans: | |||||||||
One-to-four family | $ | 2,717 | $ | 2,979 | $ | 5,696 | |||
Home equity lines of credit | 8,823 | 317 | 9,140 | ||||||
Consumer | 37 | 15 | 52 | ||||||
Commercial: | |||||||||
Commercial real estate | 28,772 | 30,047 | 58,819 | ||||||
Construction and development | 202 | 3,020 | 3,222 | ||||||
Commercial and industrial | 5,402 | 3,877 | 9,279 | ||||||
Total | $ | 45,953 | $ | 40,255 | $ | 86,208 |
3_Business_Combinations_Schedu2
3. Business Combinations: Schedule of Business Acquisition Contingent Consideration -- Jefferson Bancshares (Tables) | 3 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
Tables/Schedules | ' | ||||||||
Schedule of Business Acquisition Contingent Consideration -- Jefferson Bancshares | ' | ||||||||
As | Fair Value and | As | |||||||
Recorded | Other Merger | Recorded | |||||||
by | Related | by the | |||||||
Jefferson | Adjustments | Company | |||||||
Consideration Paid | |||||||||
Cash paid including cash in lieu of fractional shares | $ | 25,251 | |||||||
Fair value of HomeTrust common stock at $15.03 per share | 25,239 | ||||||||
Total consideration | $ | 50,490 | |||||||
Assets | |||||||||
Cash and cash equivalents | $ | 18,325 | $ | - | $ | 18,325 | |||
Securities available for sale | 85,744 | -700 | 85,044 | ||||||
Loans, net of allowance | 338,616 | -9,134 | 329,482 | ||||||
FHLB Stock | 4,635 | - | 4,635 | ||||||
REO | 3,288 | - | 3,288 | ||||||
Premises and equipment, net | 24,662 | -1,311 | 23,351 | ||||||
Accrued interest receivable | 1,367 | -90 | 1,277 | ||||||
Deferred income taxes | 9,606 | 3,395 | 13,001 | ||||||
Core deposit intangibles | 847 | 2,683 | 3,530 | ||||||
Other assets | 7,171 | - | 7,171 | ||||||
Total assets acquired | $ | 494,261 | $ | -5,157 | $ | 489,104 | |||
Liabilities | |||||||||
Deposits | $ | 376,985 | $ | 371 | $ | 377,356 | |||
Other borrowings | 55,081 | 858 | 55,939 | ||||||
Subordinated debentures | 7,460 | 2,540 | 10,000 | ||||||
Other liabilities | 2,332 | - | 2,332 | ||||||
Total liabilities assumed | $ | 441,858 | $ | 3,769 | $ | 445,627 | |||
Net identifiable assets acquired over liabilities assumed | $ | 52,403 | $ | -8,926 | 43,477 | ||||
Goodwill | $ | 7,013 |
3_Business_Combinations_Schedu3
3. Business Combinations: Schedule of Purchased Performing Loans and Purchased Impaired Loans Acquired in Transfer -- Jefferson Bancshares (Tables) | 3 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
Tables/Schedules | ' | ||||||||
Schedule of Purchased Performing Loans and Purchased Impaired Loans Acquired in Transfer -- Jefferson Bancshares | ' | ||||||||
Purchased | Total | ||||||||
Performing | PCI | Loans | |||||||
Retail Consumer Loans: | |||||||||
One-to-four family | $ | 74,378 | $ | 6,066 | $ | 80,444 | |||
Home equity lines of credit | 16,857 | 18 | 16,875 | ||||||
Construction and land/lots | 7,810 | 924 | 8,734 | ||||||
Consumer | 4,181 | 2 | 4,183 | ||||||
Commercial: | |||||||||
Commercial real estate | 118,714 | 15,649 | 134,363 | ||||||
Construction and development | 24,658 | 1,012 | 25,670 | ||||||
Commercial and industrial | 52,863 | 6,350 | 59,213 | ||||||
Total | $ | 299,461 | $ | 30,021 | $ | 329,482 |
3_Business_Combinations_Schedu4
3. Business Combinations: Schedule of Business Acquisition, Contingent Consideration -- BankGreenville (Tables) | 3 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
Tables/Schedules | ' | ||||||||
Schedule of Business Acquisition, Contingent Consideration -- BankGreenville | ' | ||||||||
The following table presents the consideration paid by the Company in the acquisition of BankGreenville and the assets acquired and liabilities assumed as of July 31, 2013: | |||||||||
Fair Value and | As | ||||||||
As Recorded | Other Merger | Recorded | |||||||
by | Related | by the | |||||||
BankGreenville | Adjustments | Company | |||||||
Consideration Paid | |||||||||
Cash | $ | 7,823 | |||||||
Repayment of BankGreenville preferred stock | 1,050 | ||||||||
Contingent cash consideration (1) | 680 | ||||||||
Total consideration | $ | 9,553 | |||||||
Assets | |||||||||
Cash and cash equivalents | $ | 10,348 | $ | - | $ | 10,348 | |||
Investment securities | 34,345 | - | 34,345 | ||||||
Loans, net of allowance | 51,622 | -3,792 | 47,830 | ||||||
FHLB Stock | 447 | - | 447 | ||||||
REO | 2,317 | -168 | 2,149 | ||||||
Premises and equipment, net | 2,458 | -117 | 2,341 | ||||||
Accrued interest receivable | 429 | - | 429 | ||||||
Deferred tax asset | - | 2,470 | 2,470 | ||||||
Other assets | 214 | - | 214 | ||||||
Core deposit intangibles | - | 530 | 530 | ||||||
Total assets acquired | $ | 102,180 | $ | -1,077 | $ | 101,103 | |||
Liabilities | |||||||||
Deposits | $ | 88,906 | $ | 201 | $ | 89,107 | |||
Other borrowings | 4,700 | 34 | 4,734 | ||||||
Other liabilities | 511 | - | 511 | ||||||
Total liabilities assumed | $ | 94,117 | $ | 235 | $ | 94,352 | |||
Net identifiable assets acquired over liabilities assumed | $ | 8,063 | $ | -1,312 | 6,751 | ||||
Goodwill | $ | 2,802 | |||||||
(1) Estimate of additional amount to be paid to shareholders on or about July 31, 2015 based on performance of a select pool of loans totaling approximately $8.0 million. | |||||||||
3_Business_Combinations_Schedu5
3. Business Combinations: Schedule of Purchased Performing Loans and Purchased Impaired Loans Acquired in Transfer -- BankGreenville Corporation (Tables) | 3 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
Tables/Schedules | ' | ||||||||
Schedule of Purchased Performing Loans and Purchased Impaired Loans Acquired in Transfer -- BankGreenville Corporation | ' | ||||||||
Purchased | Total | ||||||||
Performing | PCI | Loans | |||||||
Retail Consumer Loans: | |||||||||
One-to-four family | $ | 8,274 | $ | 1,392 | $ | 9,666 | |||
Home equity lines of credit | 3,987 | 134 | 4,121 | ||||||
Consumer | 522 | - | 522 | ||||||
Commercial: | |||||||||
Commercial real estate | 23,073 | 4,552 | 27,625 | ||||||
Construction and development | 2,367 | 3,529 | 5,896 | ||||||
Total | $ | 38,223 | $ | 9,607 | $ | 47,830 |
3_Business_Combinations_Schedu6
3. Business Combinations: Schedule of Financial Impact of Acquisition (Tables) | 3 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
Tables/Schedules | ' | ||||||||
Schedule of Financial Impact of Acquisition | ' | ||||||||
Actual | Pro Forma | Pro Forma | |||||||
Three Months Ended | Three Months Ended | Three Months Ended | |||||||
30-Sep-14 | 30-Sep-14 | 30-Sep-13 | |||||||
Total revenues* | $ | 18,600 | $ | 21,767 | $ | 38,450 | |||
Net income | 2,256 | 1,996 | 5,639 |
4_Securities_Available_For_Sal3
4. Securities Available For Sale: Available for Sale Securities Table (Tables) | 3 Months Ended | ||||||||||||
Sep. 30, 2014 | |||||||||||||
Tables/Schedules | ' | ||||||||||||
Available for Sale Securities Table | ' | ||||||||||||
30-Sep-14 | |||||||||||||
Gross | Gross | Estimated | |||||||||||
Amortized | Unrealized | Unrealized | Fair | ||||||||||
Cost | Gains | Losses | Value | ||||||||||
U.S. Government Agencies | $ | 38,765 | $ | 103 | $ | -59 | $ | 38,809 | |||||
Residential Mortgage-backed Securities of U.S. | |||||||||||||
Government Agencies and Government- | |||||||||||||
Sponsored Enterprises | 117,418 | 398 | -517 | 117,299 | |||||||||
Municipal Bonds | 15,828 | 316 | -8 | 16,136 | |||||||||
Corporate Bonds | 3,906 | 87 | - | 3,993 | |||||||||
Total | $ | 175,917 | $ | 904 | $ | -584 | $ | 176,237 | |||||
30-Jun-14 | |||||||||||||
Gross | Gross | Estimated | |||||||||||
Amortized | Unrealized | Unrealized | Fair | ||||||||||
Cost | Gains | Losses | Value | ||||||||||
U.S. government agencies | $ | 38,085 | $ | 45 | $ | -37 | $ | 38,093 | |||||
Residential Mortgage-backed Securities of U.S. | |||||||||||||
Government Agencies and Government- | |||||||||||||
Sponsored Enterprises | 111,430 | 393 | -412 | 111,411 | |||||||||
Municipal Bonds | 15,951 | 282 | -13 | 16,220 | |||||||||
Corporate Bonds | 2,912 | 113 | - | 3,025 | |||||||||
Total | $ | 168,378 | $ | 833 | $ | -462 | $ | 168,749 | |||||
4_Securities_Available_For_Sal4
4. Securities Available For Sale: Schedule of Investments Classified by Contractual Maturity Date (Tables) | 3 Months Ended | ||||||
Sep. 30, 2014 | |||||||
Tables/Schedules | ' | ||||||
Schedule of Investments Classified by Contractual Maturity Date | ' | ||||||
Debt securities available for sale by contractual maturity at the dates indicated are shown below. Mortgage-backed securities are not included in the maturity categories because the borrowers in the underlying pools may prepay without penalty; therefore, it is unlikely that the securities will pay at their stated maturity schedule. | |||||||
30-Sep-14 | |||||||
Amortized | Estimated | ||||||
Cost | Fair Value | ||||||
Due within one year | $ | 2,518 | $ | 2,518 | |||
Due after one year through five years | 12,980 | 12,978 | |||||
Due after five years through ten years | 36,320 | 36,599 | |||||
Due after ten years | 6,681 | 6,843 | |||||
Mortgage-backed securities | 117,418 | 117,299 | |||||
Total | $ | 175,917 | $ | 176,237 | |||
4_Securities_Available_For_Sal5
4. Securities Available For Sale: Available for Sale Securities Continuous Unrealized Loss Position Fair Value (Tables) | 3 Months Ended | |||||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||||
Tables/Schedules | ' | |||||||||||||||||||
Available for Sale Securities Continuous Unrealized Loss Position Fair Value | ' | |||||||||||||||||||
The gross unrealized losses and the fair value for securities available for sale aggregated by the length of time that individual securities have been in a continuous unrealized loss position as of September 30, 2014 and June 30, 2014 were as follows: | ||||||||||||||||||||
30-Sep-14 | ||||||||||||||||||||
Less than 12 Months | 12 Months or More | Total | ||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||
Value | Losses | Value | Losses | Value | Losses | |||||||||||||||
U.S. government agencies | $ | 16,971 | $ | -59 | $ | - | $ | - | $ | 16,971 | $ | -59 | ||||||||
Mortgage-backed securities of | ||||||||||||||||||||
U.S. government agencies and | ||||||||||||||||||||
government-sponsored | ||||||||||||||||||||
enterprises | 75,671 | -505 | 152 | -12 | 75,823 | -517 | ||||||||||||||
Taxable municipal securities | 2,876 | -8 | - | - | 2,876 | -8 | ||||||||||||||
Total | $ | 95,518 | $ | -572 | $ | 152 | $ | -12 | $ | 95,670 | $ | -584 | ||||||||
30-Jun-14 | ||||||||||||||||||||
Less than 12 Months | 12 Months or More | Total | ||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||
Value | Losses | Value | Losses | Value | Losses | |||||||||||||||
U.S. Government Agencies | $ | 19,475 | $ | -37 | $ | - | $ | - | $ | 19,475 | $ | -37 | ||||||||
Residential Mortgage-backed | ||||||||||||||||||||
Securities of U.S. Government | ||||||||||||||||||||
Agencies and Government- | ||||||||||||||||||||
Sponsored Enterprises | 75,761 | -399 | 162 | -13 | 75,923 | -412 | ||||||||||||||
Municipal Bonds | 6,668 | -13 | - | - | 6,668 | -13 | ||||||||||||||
Total | $ | 101,904 | $ | -449 | $ | 162 | $ | -13 | $ | 102,066 | $ | -462 | ||||||||
5_Loans_Schedule_of_Accounts_N
5. Loans: Schedule of Accounts, Notes, Loans and Financing Receivable (Tables) | 3 Months Ended | |||||||
Sep. 30, 2014 | ||||||||
Tables/Schedules | ' | |||||||
Schedule of Accounts, Notes, Loans and Financing Receivable | ' | |||||||
Loans consist of the following at the dates indicated: | ||||||||
September 30, | June 30, | |||||||
2014 | 2014 | |||||||
Retail consumer loans: | ||||||||
One-to-four family | $ | 656,068 | $ | 660,200 | ||||
Home equity lines of credit | 158,220 | 148,379 | ||||||
Construction and land/lots | 61,781 | 59,249 | ||||||
Indirect auto finance | 15,449 | 8,833 | ||||||
Consumer | 5,556 | 6,331 | ||||||
Total retail consumer loans | 897,074 | 882,992 | ||||||
Commercial loans: | ||||||||
Commercial real estate | 455,219 | 377,769 | ||||||
Construction and development | 56,437 | 56,457 | ||||||
Commercial and industrial | 91,126 | 74,435 | ||||||
Municipal leases | 109,079 | 106,215 | ||||||
Total commercial loans | 711,861 | 614,876 | ||||||
Total loans | 1,608,935 | 1,497,868 | ||||||
Deferred loan fees, net | -721 | -1,340 | ||||||
Total loans, net of deferred loan fees and discount | 1,608,214 | 1,496,528 | ||||||
Allowance for loan and lease losses | -23,080 | -23,429 | ||||||
Loans, net | $ | 1,585,134 | $ | 1,473,099 | ||||
5_Loans_NonPurchased_and_Purch
5. Loans: Non-Purchased and Purchased Performing Loans Credit Quality Indicators Table (Tables) | 3 Months Ended | |||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||
Tables/Schedules | ' | |||||||||||||||||
Non-Purchased and Purchased Performing Loans Credit Quality Indicators Table | ' | |||||||||||||||||
Special | ||||||||||||||||||
Pass | Mention | Substandard | Doubtful | Loss | Total | |||||||||||||
30-Sep-14 | ||||||||||||||||||
Retail consumer loans: | ||||||||||||||||||
One-to-four family | $ | 597,955 | $ | 15,069 | $ | 30,133 | $ | 3,156 | $ | 9 | $ | 646,322 | ||||||
Home equity lines of credit | 151,492 | 1,053 | 4,696 | 553 | 2 | 157,796 | ||||||||||||
Construction and land/lots | 57,466 | 1,041 | 1,943 | 433 | - | 60,883 | ||||||||||||
Indirect auto finance | 15,400 | 49 | - | - | - | 15,449 | ||||||||||||
Consumer | 5,280 | 81 | 101 | 77 | 2 | 5,541 | ||||||||||||
Commercial loans: | ||||||||||||||||||
Commercial real estate | 371,721 | 14,688 | 16,448 | 1,936 | - | 404,793 | ||||||||||||
Construction and development | 40,297 | 2,001 | 6,126 | 569 | - | 48,993 | ||||||||||||
Commercial and industrial | 80,706 | 819 | 1,464 | - | 1 | 82,990 | ||||||||||||
Municipal leases | 106,976 | 1,800 | 303 | - | - | 109,079 | ||||||||||||
Total loans | $ | 1,427,293 | $ | 36,601 | $ | 61,214 | $ | 6,724 | $ | 14 | $ | 1,531,846 | ||||||
Special | ||||||||||||||||||
Pass | Mention | Substandard | Doubtful | Loss | Total | |||||||||||||
30-Jun-14 | ||||||||||||||||||
Retail consumer loans: | ||||||||||||||||||
One-to-four family | $ | 602,409 | $ | 17,639 | $ | 28,974 | $ | 2,907 | $ | 10 | $ | 651,939 | ||||||
Home equity lines of credit | 141,008 | 1,605 | 4,967 | 420 | 2 | 148,002 | ||||||||||||
Construction and land/lots | 55,374 | 1,878 | 807 | 113 | - | 58,172 | ||||||||||||
Indirect auto finance | 8,801 | 32 | - | - | - | 8,833 | ||||||||||||
Consumer | 6,115 | 62 | 97 | 13 | 3 | 6,290 | ||||||||||||
Commercial loans: | ||||||||||||||||||
Commercial real estate | 313,437 | 16,931 | 19,746 | 1,944 | - | 352,058 | ||||||||||||
Construction and development | 41,336 | 2,927 | 5,972 | 570 | - | 50,805 | ||||||||||||
Commercial and industrial | 66,481 | 873 | 1,723 | - | 3 | 69,080 | ||||||||||||
Municipal leases | 104,404 | 1,811 | - | - | - | 106,215 | ||||||||||||
Total loans | $ | 1,339,365 | $ | 43,758 | $ | 62,286 | $ | 5,967 | $ | 18 | $ | 1,451,394 | ||||||
5_Loans_Purchased_CreditImpair
5. Loans: Purchased Credit-Impaired Loans Credit Quality Indicators Table (Tables) | 3 Months Ended | |||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||
Tables/Schedules | ' | |||||||||||||||||
Purchased Credit-Impaired Loans Credit Quality Indicators Table | ' | |||||||||||||||||
Special | ||||||||||||||||||
Pass | Mention | Substandard | Doubtful | Loss | Total | |||||||||||||
30-Sep-14 | ||||||||||||||||||
Retail consumer loans: | ||||||||||||||||||
One-to-four family | $ | 4,947 | $ | 939 | $ | 3,860 | $ | - | $ | - | $ | 9,746 | ||||||
Home equity lines of credit | 57 | - | 367 | - | - | 424 | ||||||||||||
Construction and land/lots | 457 | - | 441 | - | - | 898 | ||||||||||||
Indirect auto finance | - | - | - | - | - | - | ||||||||||||
Consumer | 15 | - | - | - | - | 15 | ||||||||||||
Commercial loans: | ||||||||||||||||||
Commercial real estate | 32,823 | 6,817 | 10,786 | - | - | 50,426 | ||||||||||||
Construction and development | 1,914 | 1,778 | 3,752 | - | - | 7,444 | ||||||||||||
Commercial and industrial | 6,504 | 456 | 1,176 | - | - | 8,136 | ||||||||||||
Municipal leases | - | - | - | - | - | - | ||||||||||||
Total loans | $ | 46,717 | $ | 9,990 | $ | 20,382 | $ | - | $ | - | $ | 77,089 | ||||||
Special | ||||||||||||||||||
Pass | Mention | Substandard | Doubtful | Loss | Total | |||||||||||||
30-Jun-14 | ||||||||||||||||||
Retail consumer loans: | ||||||||||||||||||
One-to-four family | $ | 4,904 | $ | - | $ | 3,357 | $ | - | $ | - | $ | 8,261 | ||||||
Home equity lines of credit | 7 | - | 370 | - | - | 377 | ||||||||||||
Construction and land/lots | 791 | - | 286 | - | - | 1,077 | ||||||||||||
Indirect auto finance | - | - | - | - | - | - | ||||||||||||
Consumer | 41 | - | - | - | - | 41 | ||||||||||||
Commercial loans: | ||||||||||||||||||
Commercial real estate | 20,853 | - | 4,858 | - | - | 25,711 | ||||||||||||
Construction and development | 2,443 | 2,169 | 1,040 | - | - | 5,652 | ||||||||||||
Commercial and industrial | 4,647 | - | 708 | - | - | 5,355 | ||||||||||||
Municipal leases | - | - | - | - | - | - | ||||||||||||
Total loans | $ | 33,686 | $ | 2,169 | $ | 10,619 | $ | - | $ | - | $ | 46,474 | ||||||
5_Loans_Schedule_of_Past_Due_F
5. Loans: Schedule of Past Due Financing Receivables (Tables) | 3 Months Ended | ||||||||||||||
Sep. 30, 2014 | |||||||||||||||
Tables/Schedules | ' | ||||||||||||||
Schedule of Past Due Financing Receivables | ' | ||||||||||||||
The Company’s total loans by segment, class, and delinquency status at the dates indicated follows: | |||||||||||||||
Past Due | Total | ||||||||||||||
30-89 Days | 90 Days+ | Total | Current | Loans | |||||||||||
30-Sep-14 | |||||||||||||||
Retail consumer loans: | |||||||||||||||
One-to-four family | $ | 2,916 | $ | 8,277 | $ | 11,193 | $ | 644,875 | $ | 656,068 | |||||
Home equity lines of credit | 375 | 1,010 | 1,385 | 156,835 | 158,220 | ||||||||||
Construction and land/lots | 176 | 732 | 908 | 60,873 | 61,781 | ||||||||||
Indirect auto finance | 63 | - | 63 | 15,386 | 15,449 | ||||||||||
Consumer | 31 | 20 | 51 | 5,505 | 5,556 | ||||||||||
Commercial loans: | |||||||||||||||
Commercial real estate | 3,731 | 8,064 | 11,795 | 443,424 | 455,219 | ||||||||||
Construction and development | 111 | 3,728 | 3,839 | 52,598 | 56,437 | ||||||||||
Commercial and industrial | 207 | 623 | 830 | 90,296 | 91,126 | ||||||||||
Municipal leases | 555 | 303 | 858 | 108,221 | 109,079 | ||||||||||
Total loans | $ | 8,165 | $ | 22,757 | $ | 30,922 | $ | 1,578,013 | $ | 1,608,935 | |||||
The table above includes PCI loans of $2,461 30-89 days past due and $4,096 90 days or more past due as of September 30, 2014. | |||||||||||||||
Past Due | Total | ||||||||||||||
30-89 Days | 90 Days+ | Total | Current | Loans | |||||||||||
30-Jun-14 | |||||||||||||||
Retail consumer loans: | |||||||||||||||
One-to-four family | $ | 4,929 | $ | 8,208 | $ | 13,137 | $ | 647,063 | $ | 660,200 | |||||
Home equity lines of credit | 400 | 939 | 1,339 | 147,040 | 148,379 | ||||||||||
Construction and land/lots | 508 | 122 | 630 | 58,619 | 59,249 | ||||||||||
Indirect auto finance | - | - | - | 8,833 | 8,833 | ||||||||||
Consumer | 34 | 16 | 50 | 6,281 | 6,331 | ||||||||||
Commercial loans: | |||||||||||||||
Commercial real estate | 306 | 6,729 | 7,035 | 370,734 | 377,769 | ||||||||||
Construction and development | 1,165 | 3,789 | 4,954 | 51,503 | 56,457 | ||||||||||
Commercial and industrial | 183 | 576 | 759 | 73,676 | 74,435 | ||||||||||
Municipal leases | - | - | - | 106,215 | 106,215 | ||||||||||
Total loans | $ | 7,525 | $ | 20,379 | $ | 27,904 | $ | 1,469,964 | $ | 1,497,868 | |||||
The table above includes PCI loans of $1,817 30-89 days past due and $4,189 90 days or more past due as of June 30, 2014. | |||||||||||||||
5_Loans_Schedule_of_Past_Due_L
5. Loans: Schedule of Past Due Loans Still Accruing and Nonaccruing Interest (Tables) | 3 Months Ended | |||||||||||
Sep. 30, 2014 | ||||||||||||
Tables/Schedules | ' | |||||||||||
Schedule of Past Due Loans Still Accruing and Nonaccruing Interest | ' | |||||||||||
The Company’s recorded investment in loans, by segment and class, that are not accruing interest or are 90 days or more past due and still accruing interest at the dates indicated follow: | ||||||||||||
30-Sep-14 | 30-Jun-14 | |||||||||||
90 Days + & | 90 Days + & | |||||||||||
Nonaccruing | still accruing | Nonaccruing | still accruing | |||||||||
Retail consumer loans: | ||||||||||||
One-to-four family | $ | 15,864 | $ | - | $ | 17,968 | $ | - | ||||
Home equity lines of credit | 2,765 | - | 3,114 | - | ||||||||
Construction and land/lots | 782 | - | 688 | - | ||||||||
Indirect auto finance | - | - | - | - | ||||||||
Consumer | 35 | - | 27 | - | ||||||||
Commercial loans: | ||||||||||||
Commercial real estate | 16,910 | - | 16,941 | - | ||||||||
Construction and development | 6,771 | - | 6,270 | - | ||||||||
Commercial and industrial | 2,043 | - | 2,003 | - | ||||||||
Municipal leases | 303 | - | - | - | ||||||||
Total loans | $ | 45,473 | $ | - | $ | 47,011 | $ | - | ||||
The table above includes PCI loans of $8,464 and $9,220 as of September 30, 2014 and June 30, 2014, respectively. | ||||||||||||
5_Loans_Schedule_of_Troubled_D
5. Loans: Schedule of Troubled Debt Restructurings Performing and Excluded from Nonaccruing Loans (Tables) | 3 Months Ended | |||||
Sep. 30, 2014 | ||||||
Tables/Schedules | ' | |||||
Schedule of Troubled Debt Restructurings Performing and Excluded from Nonaccruing Loans | ' | |||||
September 30, | June 30, | |||||
2014 | 2014 | |||||
Performing TDRs included in impaired loans | $ | 18,737 | $ | 22,179 |
5_Loans_Allowance_for_Credit_L
5. Loans: Allowance for Credit Losses on Financing Receivables Table (Tables) | 3 Months Ended | |||||||||||
Sep. 30, 2014 | ||||||||||||
Tables/Schedules | ' | |||||||||||
Allowance for Credit Losses on Financing Receivables Table | ' | |||||||||||
An analysis of the allowance for loan losses by segment for the periods shown was as follows: | ||||||||||||
Three Months Ended September 30, 2014 | Three Months Ended September 30, 2013 | |||||||||||
Retail | Retail | |||||||||||
Consumer | Commercial | Total | Consumer | Commercial | Total | |||||||
Balance at beginning of period | $15,731 | $7,698 | $23,429 | $21,952 | $10,121 | $32,073 | ||||||
Provision for (recovery of) | -674 | 424 | -250 | -1,639 | -661 | -2,300 | ||||||
loan losses | ||||||||||||
Charge-offs | -479 | -197 | -676 | -714 | -214 | -928 | ||||||
Recoveries | 367 | 210 | 577 | 132 | 223 | 355 | ||||||
Balance at end of period | $14,945 | $8,135 | $23,080 | $19,731 | $9,469 | $29,200 | ||||||
5_Loans_Schedule_of_Ending_Bal
5. Loans: Schedule of Ending Balances of Loans and the Related Allowance by Segment and Class (Tables) | 3 Months Ended | ||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||
Tables/Schedules | ' | ||||||||||||||||||||||
Schedule of Ending Balances of Loans and the Related Allowance by Segment and Class | ' | ||||||||||||||||||||||
Allowance for Loan Losses | Total Loans Receivable | ||||||||||||||||||||||
Loans | Loans | ||||||||||||||||||||||
individually | Loans | individually | Loans | ||||||||||||||||||||
evaluated for | Collectively | evaluated for | Collectively | ||||||||||||||||||||
PCI | impairment | Evaluated | Total | PCI | impairment | Evaluated | Total | ||||||||||||||||
30-Sep-14 | |||||||||||||||||||||||
Retail consumer loans: | |||||||||||||||||||||||
One-to-four family | $- | $ | 432 | $ | 9,082 | $ | 9,514 | $ | 9,746 | $ | 23,328 | $ | 622,994 | $ | 656,068 | ||||||||
Home equity | - | 154 | 2,225 | 2,379 | 424 | 2,653 | 155,143 | 158,220 | |||||||||||||||
Construction and land/lots | - | 655 | 2,097 | 2,752 | 898 | 2,272 | 58,611 | 61,781 | |||||||||||||||
Indirect auto finance | - | - | 198 | 198 | - | - | 15,449 | 15,449 | |||||||||||||||
Consumer | - | 3 | 100 | 103 | 15 | 9 | 5,532 | 5,556 | |||||||||||||||
Commercial loans: | |||||||||||||||||||||||
Commercial real estate | - | 20 | 5,609 | 5,629 | 50,426 | 15,608 | 389,185 | 455,219 | |||||||||||||||
Construction and development | - | 67 | 1,265 | 1,332 | 7,444 | 5,509 | 43,484 | 56,437 | |||||||||||||||
Commercial and industrial | - | 1 | 444 | 445 | 8,136 | 2,243 | 80,747 | 91,126 | |||||||||||||||
Municipal leases | - | - | 728 | 728 | - | - | 109,079 | 109,079 | |||||||||||||||
Total | $- | $ | 1,332 | $ | 21,748 | $ | 23,080 | $ | 77,089 | $ | 51,622 | $ | 1,480,224 | $ | 1,608,935 | ||||||||
30-Jun-14 | |||||||||||||||||||||||
Retail consumer loans: | |||||||||||||||||||||||
One-to-four family | $- | $ | 493 | $ | 10,034 | $ | 10,527 | $ | 8,261 | $ | 23,929 | $ | 628,010 | $ | 660,200 | ||||||||
Home equity | - | 134 | 2,353 | 2,487 | 377 | 3,014 | 144,988 | 148,379 | |||||||||||||||
Construction and land/lots | - | 379 | 2,041 | 2,420 | 1,077 | 1,735 | 56,437 | 59,249 | |||||||||||||||
Indirect auto finance | - | - | 113 | 113 | - | - | 8,833 | 8,833 | |||||||||||||||
Consumer | - | 3 | 181 | 184 | 41 | 10 | 6,280 | 6,331 | |||||||||||||||
Commercial loans: | |||||||||||||||||||||||
Commercial real estate | - | 26 | 5,413 | 5,439 | 25,711 | 13,784 | 338,274 | 377,769 | |||||||||||||||
Construction and development | - | 26 | 1,215 | 1,241 | 5,652 | 5,571 | 45,234 | 56,457 | |||||||||||||||
Commercial and industrial | - | 3 | 246 | 249 | 5,355 | 2,378 | 66,702 | 74,435 | |||||||||||||||
Municipal leases | - | - | 769 | 769 | - | - | 106,215 | 106,215 | |||||||||||||||
Total | $- | $ | 1,064 | $ | 22,365 | $ | 23,429 | $ | 46,474 | $ | 50,421 | $ | 1,400,973 | $ | 1,497,868 | ||||||||
5_Loans_Schedule_Of_Impaired_L
5. Loans: Schedule Of Impaired Loans And Related Allowance By Segment And Class (Tables) | 3 Months Ended | |||||||||||
Sep. 30, 2014 | ||||||||||||
Tables/Schedules | ' | |||||||||||
Schedule Of Impaired Loans And Related Allowance By Segment And Class | ' | |||||||||||
Total Impaired Loans | ||||||||||||
With a | With No | Related | ||||||||||
Recorded | Recorded | Recorded | ||||||||||
Allowance | Allowance | Total | Allowance | |||||||||
30-Sep-14 | ||||||||||||
Retail consumer loans: | ||||||||||||
One-to-four family | $ | 13,980 | $ | 17,710 | $ | 31,690 | $ | 540 | ||||
Home equity lines of credit | 3,178 | 1,491 | 4,669 | 188 | ||||||||
Construction and land/lots | 1,723 | 627 | 2,350 | 656 | ||||||||
Indirect auto finance | - | - | - | - | ||||||||
Consumer | 26 | 9 | 35 | 3 | ||||||||
Commercial loans: | ||||||||||||
Commercial real estate | 3,167 | 15,297 | 18,464 | 48 | ||||||||
Construction and development | 2,182 | 3,892 | 6,074 | 83 | ||||||||
Commercial and industrial | 820 | 2,243 | 3,063 | 4 | ||||||||
Municipal leases | 303 | - | 303 | 2 | ||||||||
Total impaired loans | $ | 25,379 | $ | 41,269 | $ | 66,648 | $ | 1,524 | ||||
Total Impaired Loans | ||||||||||||
With a | With No | Related | ||||||||||
Recorded | Recorded | Recorded | ||||||||||
Allowance | Allowance | Total | Allowance | |||||||||
30-Jun-14 | ||||||||||||
Retail consumer loans: | ||||||||||||
One-to-four family | $ | 17,379 | $ | 14,614 | $ | 31,993 | $ | 678 | ||||
Home equity lines of credit | 2,445 | 2,305 | 4,750 | 166 | ||||||||
Construction and land/lots | 1,737 | 109 | 1,846 | 411 | ||||||||
Indirect auto finance | - | - | - | - | ||||||||
Consumer | 16 | 11 | 27 | 3 | ||||||||
Commercial loans: | ||||||||||||
Commercial real estate | 6,228 | 9,114 | 15,342 | 166 | ||||||||
Construction and development | 1,043 | 5,088 | 6,131 | 54 | ||||||||
Commercial and industrial | 835 | 1,903 | 2,738 | 13 | ||||||||
Municipal leases | - | - | - | - | ||||||||
Total impaired loans | $ | 29,683 | $ | 33,144 | $ | 62,827 | $ | 1,491 | ||||
5_Loans_Schedule_of_Average_Re
5. Loans: Schedule of Average Recorded Investment in Loans, Unpaid Principal Balance and Interest Income Recognized (Tables) | 3 Months Ended | ||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||
Tables/Schedules | ' | ||||||||||||||||||
Schedule of Average Recorded Investment in Loans, Unpaid Principal Balance and Interest Income Recognized | ' | ||||||||||||||||||
Three Months Ended | |||||||||||||||||||
30-Sep-14 | 30-Sep-13 | ||||||||||||||||||
Average | Unpaid | Interest | Average | Unpaid | Interest | ||||||||||||||
Recorded | Principal | Income | Recorded | Principal | Income | ||||||||||||||
Investment | Balance | Recognized | Investment | Balance | Recognized | ||||||||||||||
Retail consumer loans: | |||||||||||||||||||
One-to-four family | $ | 31,842 | $ | 35,147 | $ | 451 | $ | 44,682 | $ | 48,252 | $ | 364 | |||||||
Home equity lines of credit | 4,710 | 6,348 | 75 | 5,938 | 8,970 | 70 | |||||||||||||
Construction and land/lots | 2,098 | 3,675 | 36 | 2,556 | 5,023 | 42 | |||||||||||||
Indirect auto finance | - | - | - | - | - | - | |||||||||||||
Consumer | 31 | 1,147 | 3 | 59 | 181 | 1 | |||||||||||||
Commercial loans: | |||||||||||||||||||
Commercial real estate | 16,903 | 26,291 | 210 | 26,535 | 30,055 | 143 | |||||||||||||
Construction and development | 6,103 | 9,541 | 32 | 10,978 | 15,368 | 33 | |||||||||||||
Commercial and industrial | 2,901 | 5,042 | 76 | 2,860 | 3,471 | 38 | |||||||||||||
Municipal leases | 152 | 303 | - | - | - | - | |||||||||||||
Total loans | $ | 64,738 | $ | 87,494 | $ | 883 | $ | 93,608 | $ | 111,320 | $ | 691 |
5_Loans_Schedule_Of_Changes_In
5. Loans: Schedule Of Changes In Accretable Yield For Purchased Impaired Loans (Tables) | 3 Months Ended | |||||
Sep. 30, 2014 | ||||||
Tables/Schedules | ' | |||||
Schedule Of Changes In Accretable Yield For Purchased Impaired Loans | ' | |||||
Three Months Ended | ||||||
September 30, | September 30, | |||||
2014 | 2013 | |||||
Accretable yield, beginning of period | $ | 6,151 | $ | - | ||
Addition from the Bank of Commerce acquisition | 7,315 | 1,835 | ||||
Interest income | -931 | -100 | ||||
Accretable yield, end of period | $ | 12,535 | $ | 1,735 |
5_Loans_Schedule_of_Purchased_
5. Loans: Schedule of Purchased Performing Loans Receivable -- Bank of Commerce (Tables) | 3 Months Ended | |||||
Sep. 30, 2014 | ||||||
Tables/Schedules | ' | |||||
Schedule of Purchased Performing Loans Receivable -- Bank of Commerce | ' | |||||
September 30, | July 31, | |||||
2014 | 2014 | |||||
Contractually required principal payments receivable | $ | 46,812 | $ | 47,291 | ||
Adjustment for credit, interest rate, and liquidity | 1,150 | 1,159 | ||||
Balance of purchased loans receivable | $ | 45,662 | $ | 46,132 |
5_Loans_Schedule_of_Purchased_1
5. Loans: Schedule of Purchased Impaired Loans Receivable -- Bank of Commerce (Tables) | 3 Months Ended | ||
Sep. 30, 2014 | |||
Tables/Schedules | ' | ||
Schedule of Purchased Impaired Loans Receivable -- Bank of Commerce | ' | ||
July 31, | |||
2014 | |||
Contractually required principal and interest payments receivable | $ | 49,870 | |
Amounts not expected to be collected – nonaccretable difference | 2,300 | ||
Estimated payments expected to be received | 47,570 | ||
Accretable yield | 7,315 | ||
Fair value of PCI loans | $ | 40,255 |
5_Loans_Schedule_of_Debtor_Tro
5. Loans: Schedule of Debtor Troubled Debt Restructuring, Current Period (Tables) | 3 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
Tables/Schedules | ' | |||||||||||||||
Schedule of Debtor Troubled Debt Restructuring, Current Period | ' | |||||||||||||||
Three Months Ended | Three Months Ended | |||||||||||||||
30-Sep-14 | 30-Sep-13 | |||||||||||||||
Number of Loans | Pre Modification Outstanding Recorded Investment | Post Modification Outstanding Recorded Investment | Number of Loans | Pre Modification Outstanding Recorded Investment | Post Modification Outstanding Recorded Investment | |||||||||||
Below market interest rate: | ||||||||||||||||
Retail consumer: | ||||||||||||||||
One-to-four family | - | $ | - | $ | - | 1 | $ | 18 | $ | 17 | ||||||
Total | - | $ | - | $ | - | 1 | $ | 18 | $ | 17 | ||||||
Extended term: | ||||||||||||||||
Retail consumer: | ||||||||||||||||
One-to-four family | 1 | $ | 146 | $ | 147 | - | $ | - | $ | - | ||||||
Home equity lines of credit | 1 | 46 | 46 | - | - | - | ||||||||||
Total | 2 | $ | 192 | $ | 193 | - | $ | - | $ | - | ||||||
Other TDRs: | ||||||||||||||||
Retail consumer: | ||||||||||||||||
One-to-four family | 4 | $ | 314 | $ | 324 | 3 | $ | 572 | $ | 576 | ||||||
Home equity lines of credit | 1 | 100 | 105 | - | - | - | ||||||||||
Construction and land/lots | 1 | 106 | 100 | 1 | 135 | 135 | ||||||||||
Total | 6 | $ | 520 | $ | 529 | 4 | $ | 707 | $ | 711 | ||||||
Total | 8 | $ | 712 | $ | 722 | 5 | $ | 725 | $ | 728 |
5_Loans_Schedule_of_Troubled_D1
5. Loans: Schedule of Troubled Debt Restructurings With Payment Default (Tables) | 3 Months Ended | |||||||||
Sep. 30, 2014 | ||||||||||
Tables/Schedules | ' | |||||||||
Schedule of Troubled Debt Restructurings With Payment Default | ' | |||||||||
Three Months Ended | Three Months Ended | |||||||||
30-Sep-14 | 30-Sep-13 | |||||||||
Number of | Recorded | Number of | Recorded | |||||||
Loans | Investment | Loans | Investment | |||||||
Below market interest rate: | ||||||||||
Total | - | $ | - | - | $ | - | ||||
Extended payment terms: | ||||||||||
Retail consumer: | ||||||||||
One-to-four family | - | - | 1 | $ | 10 | |||||
Home equity lines of credit | - | - | 1 | 11 | ||||||
Commercial: | ||||||||||
Commercial and Industrial | - | - | 1 | 25 | ||||||
Total | - | $ | - | 3 | $ | 46 | ||||
Other TDRs: | ||||||||||
Retail consumer: | ||||||||||
One-to-four family | 4 | $ | 312 | 7 | $ | 1,523 | ||||
Home equity lines of credit | - | - | 1 | 48 | ||||||
Construction and land/lots | - | - | 1 | 135 | ||||||
Commercial: | ||||||||||
Commercial real estate | - | - | 3 | 381 | ||||||
Total | 4 | $ | 312 | 12 | $ | 2,087 | ||||
Total | 6 | $ | 312 | 15 | $ | 2,133 |
6_Net_Income_Per_Share_Schedul
6. Net Income Per Share: Schedule of Earnings Per Share, Basic and Diluted (Tables) | 3 Months Ended | ||||||
Sep. 30, 2014 | |||||||
Tables/Schedules | ' | ||||||
Schedule of Earnings Per Share, Basic and Diluted | ' | ||||||
Three Months Ended | |||||||
September 30, | |||||||
2014 | 2013 | ||||||
Numerator: | |||||||
Net income available to common stockholders | $ | 2,256 | $ | 3,327 | |||
Denominator: | |||||||
Weighted-average common shares outstanding - basic | 19,178,607 | 19,288,154 | |||||
Effect of dilutive shares | 64,115 | 89,742 | |||||
Weighted-average common shares outstanding - diluted | 19,242,722 | 19,377,896 | |||||
Net income per share - basic | $ | 0.12 | $ | 0.17 | |||
Net income per share - diluted | $ | 0.12 | $ | 0.17 |
7_Equity_Incentive_Plan_Equity1
7. Equity Incentive Plan: Equity Incentive Plan Stock Option Activity (Tables) | 3 Months Ended | |||||||
Sep. 30, 2014 | ||||||||
Tables/Schedules | ' | |||||||
Equity Incentive Plan Stock Option Activity | ' | |||||||
Weighted- | Remaining | |||||||
average | contractual | Aggregate | ||||||
exercise | life | Intrinsic | ||||||
Options | price | (years) | Value | |||||
Options outstanding at June 30, 2013 | 1,557,000 | $14.37 | 9.6 | $4,033 | ||||
Granted | - | - | - | - | ||||
Exercised | - | - | - | - | ||||
Forfeited | - | - | - | - | ||||
Expired | - | - | - | - | ||||
Options outstanding at September 30, 2013 | 1,557,000 | $14.37 | 9.3 | $3,316 | ||||
Options outstanding at June 30, 2014 | 1,513,500 | $14.40 | 8.6 | $2,077 | ||||
Granted | - | - | - | - | ||||
Exercised | 18,000 | 14.37 | - | - | ||||
Forfeited | - | - | - | - | ||||
Expired | - | - | - | - | ||||
Options outstanding at September 30, 2014 | 1,495,500 | $14.40 | 8.4 | $352 | ||||
Exercisable at September 30, 2014 | 272,175 | $14.37 | 8.4 |
7_Equity_Incentive_Plan_Schedu
7. Equity Incentive Plan: Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions (Tables) | 3 Months Ended | ||
Sep. 30, 2014 | |||
Tables/Schedules | ' | ||
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions | ' | ||
Assumptions in Estimating Option Values | |||
2014 | 2013 | ||
Weighted-average volatility | 28.19% | 28.19% | |
Expected dividend yield | 0.00% | 0.00% | |
Risk-free interest rate | 2.04% | 1.28% | |
Expected life (years) | 6.5 | 6.6 |
7_Equity_Incentive_Plan_Schedu1
7. Equity Incentive Plan: Schedule of Nonvested Restricted Stock Units Activity (Tables) | 3 Months Ended | |||||||
Sep. 30, 2014 | ||||||||
Tables/Schedules | ' | |||||||
Schedule of Nonvested Restricted Stock Units Activity | ' | |||||||
Weighted- | Aggregate | |||||||
Restricted | average grant | Intrinsic | ||||||
stock awards | date fair value | Value | ||||||
Non-vested at June 30, 2013 | 511,300 | $14.37 | $8,672 | |||||
Granted | - | - | - | |||||
Vested | - | - | - | |||||
Forfeited | - | - | - | |||||
Non-vested at September 30, 2013 | 511,300 | $14.37 | $8,436 | |||||
Non-vested at June 30, 2014 | 403,965 | $14.39 | $6,371 | |||||
Granted | - | - | - | |||||
Vested | - | - | - | |||||
Forfeited | - | - | - | |||||
Non-vested at September 30, 2014 | 403,965 | $14.39 | $5,902 |
9_Fair_Value_of_Financial_Inst2
9. Fair Value of Financial Instruments: Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis (Tables) | 3 Months Ended | |||||||||||
Sep. 30, 2014 | ||||||||||||
Tables/Schedules | ' | |||||||||||
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis | ' | |||||||||||
The following table presents financial assets measured at fair value on a recurring basis at the dates indicated: | ||||||||||||
30-Sep-14 | ||||||||||||
Description | Total | Level 1 | Level 2 | Level 3 | ||||||||
U.S government agencies | $ | 38,809 | $ | - | $ | 38,809 | $ | - | ||||
Residential Mortgage-backed Securities of U.S. Government Agencies and Government Sponsored Enterprises | 117,299 | - | 117,299 | - | ||||||||
Municipal Bonds | 16,136 | - | 16,136 | - | ||||||||
Corporate Bonds | 3,993 | - | 3,993 | - | ||||||||
Total | $ | 176,237 | $ | - | $ | 176,237 | $ | - | ||||
30-Jun-14 | ||||||||||||
Description | Total | Level 1 | Level 2 | Level 3 | ||||||||
U.S government agencies | $ | 38,093 | $ | - | $ | 38,093 | $ | - | ||||
Residential Mortgage-backed Securities of U.S. Government Agencies and Government Sponsored Enterprises | 111,411 | - | 111,411 | - | ||||||||
Municipal Bonds | 16,220 | - | 16,220 | - | ||||||||
Corporate Bonds | 3,025 | - | 3,025 | - | ||||||||
Total | $ | 168,749 | $ | - | $ | 168,749 | $ | - | ||||
9_Fair_Value_of_Financial_Inst3
9. Fair Value of Financial Instruments: Schedule of Fair Value Measurements, Nonrecurring (Tables) | 3 Months Ended | |||||||||||
Sep. 30, 2014 | ||||||||||||
Tables/Schedules | ' | |||||||||||
Schedule of Fair Value Measurements, Nonrecurring | ' | |||||||||||
The following table presents financial assets measured at fair value on a non-recurring basis during the periods indicated: | ||||||||||||
Three Months Ended September 30, 2014 | ||||||||||||
Description | Total | Level 1 | Level 2 | Level 3 | ||||||||
Impaired loans | $ | 2,534 | $ | - | $ | - | $ | 2,534 | ||||
REO | 333 | - | - | 333 | ||||||||
Total | $ | 2,867 | $ | - | $ | - | $ | 2,867 | ||||
Year Ended June 30, 2014 | ||||||||||||
Description | Total | Level 1 | Level 2 | Level 3 | ||||||||
Impaired loans | $ | 3,686 | $ | - | $ | - | $ | 3,686 | ||||
REO | 9,185 | - | - | 9,185 | ||||||||
Total | $ | 12,871 | $ | - | $ | - | $ | 12,871 | ||||
9_Fair_Value_of_Financial_Inst4
9. Fair Value of Financial Instruments: Schedule of Quantitative Information About Level 3 Fair Value Measurements (Tables) | 3 Months Ended | ||||||||||
Sep. 30, 2014 | |||||||||||
Tables/Schedules | ' | ||||||||||
Schedule of Quantitative Information About Level 3 Fair Value Measurements | ' | ||||||||||
Quantitative information about Level 3 fair value measurements during the period ended September 30, 2014 is shown in the table below: | |||||||||||
Fair Value at | |||||||||||
September 30, | Valuation | Unobservable | Weighted | ||||||||
2014 | Techniques | Input | Range | Average | |||||||
Nonrecurring measurements: | |||||||||||
Impaired loans, net | $ | 2,534 | Discounted appraisals | Collateral discounts | 3% - 49% | 23% | |||||
REO | $ | 333 | Discounted appraisals | Collateral discounts | 15% - 28% | 18% | |||||
9_Fair_Value_of_Financial_Inst5
9. Fair Value of Financial Instruments: Schedule of Fair Value, by Balance Sheet Grouping (Tables) | 3 Months Ended | ||||||||||||||
Sep. 30, 2014 | |||||||||||||||
Tables/Schedules | ' | ||||||||||||||
Schedule of Fair Value, by Balance Sheet Grouping | ' | ||||||||||||||
The stated carrying value and estimated fair value amounts of financial instruments as of September 30, 2014 and June 30, 2014, are summarized below: | |||||||||||||||
30-Sep-14 | |||||||||||||||
Carrying | Fair | ||||||||||||||
Value | Value | Level 1 | Level 2 | Level 3 | |||||||||||
Cash and interest-bearing deposits | $ | 32,223 | $ | 32,223 | $ | 32,223 | $ | - | $ | - | |||||
Certificates of deposit in other banks | 175,869 | 175,869 | - | 175,869 | - | ||||||||||
Securities available for sale | 176,237 | 176,237 | - | 176,237 | - | ||||||||||
Other investments | 12,758 | 12,758 | 12,758 | ||||||||||||
Loans held for sale | 2,632 | 2,674 | - | - | 2,674 | ||||||||||
Loans, net | 1,585,134 | 1,486,612 | - | - | 1,486,612 | ||||||||||
Accrued interest receivable | 7,270 | 7,270 | - | 855 | 6,415 | ||||||||||
Non-interest-bearing and NOW deposits | 445,743 | 445,743 | - | 445,743 | - | ||||||||||
Money market accounts | 405,334 | 405,334 | - | 405,334 | - | ||||||||||
Savings accounts | 194,835 | 194,835 | - | 194,835 | - | ||||||||||
Certificates of deposit | 612,881 | 614,382 | - | 614,382 | - | ||||||||||
Other borrowings | 112,000 | 112,000 | - | 112,000 | - | ||||||||||
Accrued interest payable | 211 | 211 | - | 211 | - | ||||||||||
30-Jun-14 | |||||||||||||||
Carrying | Fair | ||||||||||||||
Value | Value | Level 1 | Level 2 | Level 3 | |||||||||||
Cash and interest-bearing deposits | $ | 45,830 | $ | 45,830 | $ | 45,830 | $ | - | $ | - | |||||
Certificates of deposit in other banks | 163,780 | 163,780 | - | 163,780 | - | ||||||||||
Securities available for sale | 168,749 | 168,749 | - | 168,749 | - | ||||||||||
Other investments | 3,697 | 3,697 | 3,697 | ||||||||||||
Loans held for sale | 2,537 | 2,578 | - | - | 2,578 | ||||||||||
Loans, net | 1,473,099 | 1,381,438 | - | - | 1,381,438 | ||||||||||
Accrued interest receivable | 6,787 | 6,787 | - | 736 | 6,051 | ||||||||||
Non-interest-bearing and NOW deposits | 418,671 | 418,671 | - | 418,671 | - | ||||||||||
Money market accounts | 354,247 | 354,247 | - | 354,247 | - | ||||||||||
Savings accounts | 175,974 | 175,974 | - | 175,974 | - | ||||||||||
Certificates of deposit | 634,154 | 620,196 | - | 620,196 | - | ||||||||||
Other borrowings | 50,000 | 50,000 | - | 50,000 | - | ||||||||||
Accrued interest payable | 244 | 244 | - | 244 | - | ||||||||||
3_Business_Combinations_Schedu7
3. Business Combinations: Schedule of Business Acquisition Contingent Consideration -- Bank of Commerce (Details) (Bank of Commerce, USD $) | Jul. 31, 2014 |
In Thousands, unless otherwise specified | |
As Recorded By Bank Of Commerce | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents | $2,241 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Marketable Securities | 24,228 |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Loans Receivables, Net Of Allowance | 89,339 |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Federal Home Loan Bank Stock | 791 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Land | 224 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment | 135 |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Accrued Interest Receivable | 355 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities Noncurrent | 286 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Other | 4,931 |
Business Combination, Assets Arising from Contingencies, Amount Recognized | 122,530 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Liabilities | 93,303 |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Other Borrowings | 15,000 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Other | 6,369 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities | 114,672 |
Net assets acquired | 7,858 |
Fair Value and Other Merger Related Adjustments | ' |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Loans Receivables, Net Of Allowance | -3,131 |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Accrued Interest Receivable | -100 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities Noncurrent | 1,064 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill | 640 |
Business Combination, Assets Arising from Contingencies, Amount Recognized | -1,527 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Liabilities | 112 |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Other Borrowings | 172 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities | 284 |
Net assets acquired | -1,811 |
As Recorded by the Company | ' |
Business Acquisition Cost of Acquired Entity Cash Paid | 10,000 |
Business Combination, Contingent Consideration, Asset | 10,000 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents | 2,241 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Marketable Securities | 24,228 |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Loans Receivables, Net Of Allowance | 86,208 |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Federal Home Loan Bank Stock | 791 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Land | 224 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment | 135 |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Accrued Interest Receivable | 255 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities Noncurrent | 1,350 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill | 640 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Other | 4,931 |
Business Combination, Assets Arising from Contingencies, Amount Recognized | 121,003 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Liabilities | 93,415 |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Other Borrowings | 15,172 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Other | 6,369 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities | 114,956 |
Net assets acquired | 6,047 |
Business Acquisition Purchase Price Allocation, Goodwill | $3,953 |
3_Business_Combinations_Schedu8
3. Business Combinations: Schedule of Purchased Performing Loans and Purchased Impaired Loans Acquired in Transfer -- Bank of Commerce (Details) (Bank of Commerce, USD $) | Jul. 31, 2014 |
In Thousands, unless otherwise specified | |
Total loans | ' |
Business Acquisition Performing Loans Purchased | $45,953 |
Business Acquisition Credit-Impaired Loans Purchased | 40,255 |
Business Acquisition Performing and Impaired Loans Purchased | 86,208 |
Retail consumer loans | OneToFourFamilyRealEstateLoansMember | ' |
Business Acquisition Performing Loans Purchased | 2,717 |
Business Acquisition Credit-Impaired Loans Purchased | 2,979 |
Business Acquisition Performing and Impaired Loans Purchased | 5,696 |
Retail consumer loans | Home Equity Line of Credit | ' |
Business Acquisition Performing Loans Purchased | 8,823 |
Business Acquisition Credit-Impaired Loans Purchased | 317 |
Business Acquisition Performing and Impaired Loans Purchased | 9,140 |
Retail consumer loans | Consumer Loan | ' |
Business Acquisition Performing Loans Purchased | 37 |
Business Acquisition Credit-Impaired Loans Purchased | 15 |
Business Acquisition Performing and Impaired Loans Purchased | 52 |
Commercial Loan | Commercial Real Estate | ' |
Business Acquisition Performing Loans Purchased | 28,772 |
Business Acquisition Credit-Impaired Loans Purchased | 30,047 |
Business Acquisition Performing and Impaired Loans Purchased | 58,819 |
Commercial Loan | Construction Loan Payable | ' |
Business Acquisition Performing Loans Purchased | 202 |
Business Acquisition Credit-Impaired Loans Purchased | 3,020 |
Business Acquisition Performing and Impaired Loans Purchased | 3,222 |
Commercial Loan | Commercial and industrial loans | ' |
Business Acquisition Performing Loans Purchased | 5,402 |
Business Acquisition Credit-Impaired Loans Purchased | 3,877 |
Business Acquisition Performing and Impaired Loans Purchased | $9,279 |
3_Business_Combinations_Busine3
3. Business Combinations: Business Combination Policy -- Jefferson Bancshares (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2014 | 31-May-14 |
Jefferson Bancshares | JeffersonMember | |
Business Combination, Separately Recognized Transactions, Description | 'Under the terms of the agreement, Jefferson shareholders received 0.2661 shares of HomeTrust common stock, and $4.00 in cash for each share of Jefferson common stock. This represents approximately $50.5 million of aggregate deal consideration. | ' |
Book Value of Assets Acquired | ' | $494,300 |
Book Value of Liabilities Assumed | ' | 441,900 |
Business Acquisition Purchase Price Allocation Goodwill Amount | ' | $7,000 |
3_Business_Combinations_Schedu9
3. Business Combinations: Schedule of Business Acquisition Contingent Consideration -- Jefferson Bancshares (Details) (Jefferson Bancshares, USD $) | 31-May-14 |
In Thousands, unless otherwise specified | |
As Recorded By Jefferson Bancshares | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents | $18,325 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Marketable Securities | 85,744 |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Loans Receivables, Net Of Allowance | 338,616 |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Federal Home Loan Bank Stock | 4,635 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Land | 3,288 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment | 24,662 |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Accrued Interest Receivable | 1,367 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities Noncurrent | 9,606 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill | 847 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Other | 7,171 |
Business Combination, Assets Arising from Contingencies, Amount Recognized | 494,261 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Liabilities | 376,985 |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Other Borrowings | 55,081 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Long-term Debt | 7,460 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Other | 2,332 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities | 441,858 |
Net assets acquired | 52,403 |
Fair Value and Other Merger Related Adjustments | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Marketable Securities | -700 |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Loans Receivables, Net Of Allowance | -9,134 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment | -1,311 |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Accrued Interest Receivable | -90 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities Noncurrent | 3,395 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill | 2,683 |
Business Combination, Assets Arising from Contingencies, Amount Recognized | -5,157 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Liabilities | 371 |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Other Borrowings | 858 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Long-term Debt | 2,540 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities | 3,769 |
Net assets acquired | -8,926 |
As Recorded by the Company | ' |
Business Acquisition Cost of Acquired Entity Cash Paid | 25,251 |
Fair value common stock | 25,239 |
Business Combination, Contingent Consideration, Asset | 50,490 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents | 18,325 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Marketable Securities | 85,044 |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Loans Receivables, Net Of Allowance | 329,482 |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Federal Home Loan Bank Stock | 4,635 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Land | 3,288 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment | 23,351 |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Accrued Interest Receivable | 1,277 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities Noncurrent | 13,001 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill | 3,530 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Other | 7,171 |
Business Combination, Assets Arising from Contingencies, Amount Recognized | 489,104 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Liabilities | 377,356 |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Other Borrowings | 55,939 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Long-term Debt | 10,000 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Other | 2,332 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities | 445,627 |
Net assets acquired | 43,477 |
Business Acquisition Purchase Price Allocation, Goodwill | $7,013 |
Recovered_Sheet1
3. Business Combinations: Schedule of Purchased Performing Loans and Purchased Impaired Loans Acquired in Transfer -- Jefferson Bancshares (Details) (Jefferson Bancshares, USD $) | 31-May-14 |
In Thousands, unless otherwise specified | |
Retail consumer loans | OneToFourFamilyRealEstateLoansMember | ' |
Business Acquisition Performing Loans Purchased | $74,378 |
Business Acquisition Credit-Impaired Loans Purchased | 6,066 |
Business Acquisition Performing and Impaired Loans Purchased | 80,444 |
Retail consumer loans | Home Equity Line of Credit | ' |
Business Acquisition Performing Loans Purchased | 16,857 |
Business Acquisition Credit-Impaired Loans Purchased | 18 |
Business Acquisition Performing and Impaired Loans Purchased | 16,875 |
Retail consumer loans | Construction and land/lots loans | ' |
Business Acquisition Performing Loans Purchased | 7,810 |
Business Acquisition Credit-Impaired Loans Purchased | 924 |
Business Acquisition Performing and Impaired Loans Purchased | 8,734 |
Retail consumer loans | Consumer Loan | ' |
Business Acquisition Performing Loans Purchased | 4,181 |
Business Acquisition Credit-Impaired Loans Purchased | 2 |
Business Acquisition Performing and Impaired Loans Purchased | 4,183 |
Commercial Loan | Commercial Real Estate | ' |
Business Acquisition Performing Loans Purchased | 118,714 |
Business Acquisition Credit-Impaired Loans Purchased | 15,649 |
Business Acquisition Performing and Impaired Loans Purchased | 134,363 |
Commercial Loan | Construction and development loans | ' |
Business Acquisition Performing Loans Purchased | 24,658 |
Business Acquisition Credit-Impaired Loans Purchased | 1,012 |
Business Acquisition Performing and Impaired Loans Purchased | 25,670 |
Commercial Loan | Commercial and industrial loans | ' |
Business Acquisition Performing Loans Purchased | 52,863 |
Business Acquisition Credit-Impaired Loans Purchased | 6,350 |
Business Acquisition Performing and Impaired Loans Purchased | 59,213 |
Commercial Loan | Total loans | ' |
Business Acquisition Performing Loans Purchased | 299,461 |
Business Acquisition Credit-Impaired Loans Purchased | 30,021 |
Business Acquisition Performing and Impaired Loans Purchased | $329,482 |
3_Business_Combinations_Busine4
3. Business Combinations: Business Combination Policy -- BankGreenville Corporation (Details) (BankGreenville, USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Jul. 31, 2013 |
BankGreenville | ' | ' |
Business Combination, Separately Recognized Transactions, Additional Disclosures, Acquisition Cost Expensed, Financial Statement Caption | 'Under the terms of the agreement, BankGreenville shareholders received $6.63 per share in cash consideration. This represents approximately $7.8 million of aggregate deal consideration. Additional contingent cash consideration of up to $0.75 per share (or approximately $883,000) may be realized at the expiration of 24 months based on the performance of a select pool of loans totaling approximately $8.0 million. | ' |
Book Value of Assets Acquired | ' | $102,200 |
Book Value of Liabilities Assumed | ' | 94,100 |
Business Acquisition Purchase Price Allocation Goodwill Amount | $2,800 | ' |
Recovered_Sheet2
3. Business Combinations: Schedule of Business Acquisition, Contingent Consideration -- BankGreenville (Details) (BankGreenville, USD $) | Jul. 31, 2013 | |
In Thousands, unless otherwise specified | ||
As Recorded by BankGreenville | ' | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents | $10,348 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Marketable Securities | 34,345 | |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Loans Receivables, Net Of Allowance | 51,622 | |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Federal Home Loan Bank Stock | 447 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Land | 2,317 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment | 2,458 | |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Accrued Interest Receivable | 429 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Other | 214 | |
Business Combination, Assets Arising from Contingencies, Amount Recognized | 102,180 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Liabilities | 88,906 | |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Other Borrowings | 4,700 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Other | 511 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities | 94,117 | |
Net assets acquired | 8,063 | |
Fair Value and Other Merger Related Adjustments | ' | |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Loans Receivables, Net Of Allowance | -3,792 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Land | -168 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment | -117 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Assets, Current | 2,470 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill | 530 | |
Business Combination, Assets Arising from Contingencies, Amount Recognized | -1,077 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Liabilities | 201 | |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Other Borrowings | 34 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities | 235 | |
Net assets acquired | -1,312 | |
As Recorded by the Company | ' | |
Business Acquisition Cost of Acquired Entity Cash Paid | 7,823 | |
Repayment of preferred stock | 1,050 | |
Business Acquisition, Contingent Cash Consideration | 680 | [1] |
Business Combination, Contingent Consideration, Asset | 9,553 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents | 10,348 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Marketable Securities | 34,345 | |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Loans Receivables, Net Of Allowance | 47,830 | |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Federal Home Loan Bank Stock | 447 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Land | 2,149 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment | 2,341 | |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Accrued Interest Receivable | 429 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Assets, Current | 2,470 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Other | 214 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill | 530 | |
Business Combination, Assets Arising from Contingencies, Amount Recognized | 101,103 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Liabilities | 89,107 | |
Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Other Borrowings | 4,734 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Other | 511 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities | 94,352 | |
Net assets acquired | 6,751 | |
Business Acquisition Purchase Price Allocation, Goodwill | $2,802 | |
[1] | Estimate of additional amount to be paid to shareholders on or about July 31, 2015 based on performance of a select pool of loans totaling approximately $8.0 million. |
Recovered_Sheet3
3. Business Combinations: Schedule of Purchased Performing Loans and Purchased Impaired Loans Acquired in Transfer -- BankGreenville Corporation (Details) (BankGreenville, USD $) | Jul. 31, 2013 |
In Thousands, unless otherwise specified | |
Total loans | ' |
Business Acquisition Performing Loans Purchased | $38,223 |
Business Acquisition Credit-Impaired Loans Purchased | 9,607 |
Business Acquisition Performing and Impaired Loans Purchased | 47,830 |
Retail consumer loans | OneToFourFamilyRealEstateLoansMember | ' |
Business Acquisition Performing Loans Purchased | 8,274 |
Business Acquisition Credit-Impaired Loans Purchased | 1,392 |
Business Acquisition Performing and Impaired Loans Purchased | 9,666 |
Retail consumer loans | Home Equity Line of Credit | ' |
Business Acquisition Performing Loans Purchased | 3,987 |
Business Acquisition Credit-Impaired Loans Purchased | 134 |
Business Acquisition Performing and Impaired Loans Purchased | 4,121 |
Retail consumer loans | Consumer Loan | ' |
Business Acquisition Performing Loans Purchased | 522 |
Business Acquisition Performing and Impaired Loans Purchased | 522 |
Commercial Loan | Commercial Real Estate | ' |
Business Acquisition Performing Loans Purchased | 23,073 |
Business Acquisition Credit-Impaired Loans Purchased | 4,552 |
Business Acquisition Performing and Impaired Loans Purchased | 27,625 |
Commercial Loan | Construction and development loans | ' |
Business Acquisition Performing Loans Purchased | 2,367 |
Business Acquisition Credit-Impaired Loans Purchased | 3,529 |
Business Acquisition Performing and Impaired Loans Purchased | $5,896 |
Recovered_Sheet4
3. Business Combinations: Schedule of Financial Impact of Acquisition (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
Details | ' | ' |
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual | $18,600 | ' |
Business Acquisition, Pro Forma Revenue | 21,767 | 38,450 |
Business Acquisition Actual Net Income | 2,256 | ' |
Business Acquisition, Pro Forma Net Income (Loss) | $1,996 | $5,639 |
4_Securities_Available_For_Sal6
4. Securities Available For Sale: Available for Sale Securities Table (Details) (USD $) | Sep. 30, 2014 | Jun. 30, 2014 |
In Thousands, unless otherwise specified | ||
US Government Agencies Debt Securities | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | $38,765 | $38,085 |
Securities Available for Sale, Gross Unrealized Gains | 103 | 45 |
Securities Available for Sale, Gross Unrealized Losses | -59 | -37 |
Estimated Fair Value Available For Sale Securities | 38,809 | 38,093 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | 117,418 | 111,430 |
Securities Available for Sale, Gross Unrealized Gains | 398 | 393 |
Securities Available for Sale, Gross Unrealized Losses | -517 | -412 |
Estimated Fair Value Available For Sale Securities | 117,299 | 111,411 |
Taxable Municipal Bonds | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | 15,828 | 15,951 |
Securities Available for Sale, Gross Unrealized Gains | 316 | 282 |
Securities Available for Sale, Gross Unrealized Losses | -8 | -13 |
Estimated Fair Value Available For Sale Securities | 16,136 | 16,220 |
Corporate Bond Securities | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | 3,906 | 2,912 |
Securities Available for Sale, Gross Unrealized Gains | 87 | 113 |
Estimated Fair Value Available For Sale Securities | 3,993 | 3,025 |
Available-for-sale Securities | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | 175,917 | 168,378 |
Securities Available for Sale, Gross Unrealized Gains | 904 | 833 |
Securities Available for Sale, Gross Unrealized Losses | -584 | -462 |
Estimated Fair Value Available For Sale Securities | $176,237 | $168,749 |
4_Securities_Available_For_Sal7
4. Securities Available For Sale: Schedule of Investments Classified by Contractual Maturity Date (Details) (USD $) | Sep. 30, 2014 |
In Thousands, unless otherwise specified | |
Available-for-sale Securities, Debt Maturities, Next Twelve Months, Amortized Cost Basis | $2,518 |
Available-for-sale Securities, Debt Maturities, Next Twelve Months, Fair Value | 2,518 |
Available-for-sale Securities, Debt Maturities, Year Two Through Five, Amortized Cost Basis | 12,980 |
Available-for-sale Securities, Debt Maturities, Year Two Through Five, Fair Value | 12,978 |
Available-for-sale Securities, Debt Maturities, Year Six Through Ten, Amortized Cost Basis | 36,320 |
Available-for-sale Securities, Debt Maturities, Year Six Through Ten, Fair Value | 36,599 |
Available-for-sale Securities, Debt Maturities, after Ten Years, Amortized Cost Basis | 6,681 |
Available-for-sale Securities, Debt Maturities, after Ten Years, Fair Value | 6,843 |
Available-for-sale Securities, Debt Maturities, Amortized Cost | 175,917 |
Available-for-sale Securities, Debt Securities | 176,237 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises | ' |
Available-for-sale Securities, Debt Maturities, Amortized Cost | 117,418 |
Available-for-sale Securities, Debt Securities | $117,299 |
4_Securities_Available_For_Sal8
4. Securities Available For Sale: Securities Available for Sale Pledged as Collateral Policy: Securities Pledged as Collateral (Details) (USD $) | Sep. 30, 2014 | Jun. 30, 2014 |
In Thousands, unless otherwise specified | ||
Details | ' | ' |
Available-for-sale Securities Pledged as Collateral | $42,355 | $51,036 |
Securities Available for Sale Pledged as Collateral Market Value | $42,546 | $51,297 |
4_Securities_Available_For_Sal9
4. Securities Available For Sale: Available for Sale Securities Continuous Unrealized Loss Position Fair Value (Details) (USD $) | 3 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Jun. 30, 2013 |
US Government Agencies Debt Securities | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | $16,971 | $19,475 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Loss | -59 | -37 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 16,971 | 19,475 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss | -59 | -37 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 75,671 | 75,761 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Loss | -505 | -399 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 152 | 162 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Loss | -12 | -13 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 75,823 | 75,923 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss | -517 | -412 |
Taxable Municipal Bonds | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 2,876 | 6,668 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Loss | -8 | -13 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 2,876 | 6,668 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss | -8 | -13 |
Available For Sale Securities Continuous Unrealized Loss Position | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 95,518 | 101,904 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Loss | -572 | -449 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 152 | 162 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Loss | -12 | -13 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 95,670 | 102,066 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss | ($584) | ($462) |
Recovered_Sheet5
4. Securities Available For Sale: Securities With Unrealized Losses Policy (Details) | Sep. 30, 2014 | Jun. 30, 2014 |
Details | ' | ' |
Number of Securities With Unrealized Losses | 148 | 159 |
5_Loans_Schedule_of_Accounts_N1
5. Loans: Schedule of Accounts, Notes, Loans and Financing Receivable (Details) (USD $) | Sep. 30, 2014 | Jun. 30, 2014 |
In Thousands, unless otherwise specified | ||
Loans and Leases Receivable, Gross | $1,608,935 | $1,497,868 |
Loans and Leases Receivable, Deferred Income | -721 | -1,340 |
Loans and Leases Receivable, Other, Net of Deferred Income | 1,608,214 | 1,496,528 |
Allowance for loan losses | -23,080 | -23,429 |
Loans Receivable, Net | 1,585,134 | 1,473,099 |
Retail consumer loans | ' | ' |
One- to four-family real estate loans | 656,068 | 660,200 |
Loans and Leases Receivable, Gross, Consumer, Home Equity | 158,220 | 148,379 |
Construction Loan | 61,781 | 59,249 |
Loans Receivable Indirect Automobile Loans | 15,449 | 8,833 |
Loans and Leases Receivable, Gross, Consumer | 5,556 | 6,331 |
Retail Consumer Loans, Total | 897,074 | 882,992 |
Commercial Loan | ' | ' |
Loans Receivable, Gross, Commercial, Real Estate | 455,219 | 377,769 |
Loans Receivable, Gross, Commercial, Construction | 56,437 | 56,457 |
Loans Receivable, Gross, Commercial and Industrial | 91,126 | 74,435 |
Loans Receivable Municipal Leases | 109,079 | 106,215 |
Commercial Loans, Total | $711,861 | $614,876 |
5_Loans_NonPurchased_and_Purch1
5. Loans: Non-Purchased and Purchased Performing Loans Credit Quality Indicators Table (Details) (USD $) | Sep. 30, 2014 | Jun. 30, 2014 |
In Thousands, unless otherwise specified | ||
Retail consumer loans | ' | ' |
One- to four-family real estate loans | $656,068 | $660,200 |
Loans and Leases Receivable, Gross, Consumer, Home Equity | 158,220 | 148,379 |
Construction Loan | 61,781 | 59,249 |
Loans Receivable Indirect Automobile Loans | 15,449 | 8,833 |
Loans and Leases Receivable, Gross, Consumer | 5,556 | 6,331 |
Commercial Loan | ' | ' |
Loans Receivable, Gross, Commercial, Real Estate | 455,219 | 377,769 |
Loans Receivable, Gross, Commercial, Construction | 56,437 | 56,457 |
Loans Receivable, Gross, Commercial and Industrial | 91,126 | 74,435 |
Loans Receivable Municipal Leases | 109,079 | 106,215 |
Non-purchased and purchased performing loans | Pass | ' | ' |
Loans Receivable by Credit Quality Indicator | 1,427,293 | 1,339,365 |
Non-purchased and purchased performing loans | Pass | Retail consumer loans | ' | ' |
One- to four-family real estate loans | 597,955 | 602,409 |
Loans and Leases Receivable, Gross, Consumer, Home Equity | 151,492 | 141,008 |
Construction Loan | 57,466 | 55,374 |
Loans Receivable Indirect Automobile Loans | 15,400 | 8,801 |
Loans and Leases Receivable, Gross, Consumer | 5,280 | 6,115 |
Non-purchased and purchased performing loans | Pass | Commercial Loan | ' | ' |
Loans Receivable, Gross, Commercial, Real Estate | 371,721 | 313,437 |
Loans Receivable, Gross, Commercial, Construction | 40,297 | 41,336 |
Loans Receivable, Gross, Commercial and Industrial | 80,706 | 66,481 |
Loans Receivable Municipal Leases | 106,976 | 104,404 |
Non-purchased and purchased performing loans | Special Mention | ' | ' |
Loans Receivable by Credit Quality Indicator | 36,601 | 43,758 |
Non-purchased and purchased performing loans | Special Mention | Retail consumer loans | ' | ' |
One- to four-family real estate loans | 15,069 | 17,639 |
Loans and Leases Receivable, Gross, Consumer, Home Equity | 1,053 | 1,605 |
Construction Loan | 1,041 | 1,878 |
Loans Receivable Indirect Automobile Loans | 49 | 32 |
Loans and Leases Receivable, Gross, Consumer | 81 | 62 |
Non-purchased and purchased performing loans | Special Mention | Commercial Loan | ' | ' |
Loans Receivable, Gross, Commercial, Real Estate | 14,688 | 16,931 |
Loans Receivable, Gross, Commercial, Construction | 2,001 | 2,927 |
Loans Receivable, Gross, Commercial and Industrial | 819 | 873 |
Loans Receivable Municipal Leases | 1,800 | 1,811 |
Non-purchased and purchased performing loans | Substandard | ' | ' |
Loans Receivable by Credit Quality Indicator | 61,214 | 62,286 |
Non-purchased and purchased performing loans | Substandard | Retail consumer loans | ' | ' |
One- to four-family real estate loans | 30,133 | 28,974 |
Loans and Leases Receivable, Gross, Consumer, Home Equity | 4,696 | 4,967 |
Construction Loan | 1,943 | 807 |
Loans and Leases Receivable, Gross, Consumer | 101 | 97 |
Non-purchased and purchased performing loans | Substandard | Commercial Loan | ' | ' |
Loans Receivable, Gross, Commercial, Real Estate | 16,448 | 19,746 |
Loans Receivable, Gross, Commercial, Construction | 6,126 | 5,972 |
Loans Receivable, Gross, Commercial and Industrial | 1,464 | 1,723 |
Loans Receivable Municipal Leases | 303 | ' |
Non-purchased and purchased performing loans | Doubtful | ' | ' |
Loans Receivable by Credit Quality Indicator | 6,724 | 5,967 |
Non-purchased and purchased performing loans | Doubtful | Retail consumer loans | ' | ' |
One- to four-family real estate loans | 3,156 | 2,907 |
Loans and Leases Receivable, Gross, Consumer, Home Equity | 553 | 420 |
Construction Loan | 433 | 113 |
Loans and Leases Receivable, Gross, Consumer | 77 | 13 |
Non-purchased and purchased performing loans | Doubtful | Commercial Loan | ' | ' |
Loans Receivable, Gross, Commercial, Real Estate | 1,936 | 1,944 |
Loans Receivable, Gross, Commercial, Construction | 569 | 570 |
Non-purchased and purchased performing loans | Unlikely to be Collected Financing Receivable | ' | ' |
Loans Receivable by Credit Quality Indicator | 14 | 18 |
Non-purchased and purchased performing loans | Unlikely to be Collected Financing Receivable | Retail consumer loans | ' | ' |
One- to four-family real estate loans | 9 | 10 |
Loans and Leases Receivable, Gross, Consumer, Home Equity | 2 | 2 |
Loans and Leases Receivable, Gross, Consumer | 2 | 3 |
Non-purchased and purchased performing loans | Unlikely to be Collected Financing Receivable | Commercial Loan | ' | ' |
Loans Receivable, Gross, Commercial and Industrial | 1 | 3 |
Non-purchased and purchased performing loans | Total by Grade | ' | ' |
Loans Receivable by Credit Quality Indicator | 1,531,846 | 1,451,394 |
Non-purchased and purchased performing loans | Total by Grade | Retail consumer loans | ' | ' |
One- to four-family real estate loans | 646,322 | 651,939 |
Loans and Leases Receivable, Gross, Consumer, Home Equity | 157,796 | 148,002 |
Construction Loan | 60,883 | 58,172 |
Loans Receivable Indirect Automobile Loans | 15,449 | 8,833 |
Loans and Leases Receivable, Gross, Consumer | 5,541 | 6,290 |
Non-purchased and purchased performing loans | Total by Grade | Commercial Loan | ' | ' |
Loans Receivable, Gross, Commercial, Real Estate | 404,793 | 352,058 |
Loans Receivable, Gross, Commercial, Construction | 48,993 | 50,805 |
Loans Receivable, Gross, Commercial and Industrial | 82,990 | 69,080 |
Loans Receivable Municipal Leases | $109,079 | $106,215 |
5_Loans_Purchased_CreditImpair1
5. Loans: Purchased Credit-Impaired Loans Credit Quality Indicators Table (Details) (USD $) | Sep. 30, 2014 | Jun. 30, 2014 |
In Thousands, unless otherwise specified | ||
Retail consumer loans | ' | ' |
One- to four-family real estate loans | $656,068 | $660,200 |
Loans and Leases Receivable, Gross, Consumer, Home Equity | 158,220 | 148,379 |
Construction Loan | 61,781 | 59,249 |
Loans Receivable Indirect Automobile Loans | 15,449 | 8,833 |
Loans and Leases Receivable, Gross, Consumer | 5,556 | 6,331 |
Commercial Loan | ' | ' |
Loans Receivable, Gross, Commercial, Real Estate | 455,219 | 377,769 |
Loans Receivable, Gross, Commercial, Construction | 56,437 | 56,457 |
Loans Receivable, Gross, Commercial and Industrial | 91,126 | 74,435 |
Loans Receivable Municipal Leases | 109,079 | 106,215 |
Purchased credit-impaired loans | Pass | ' | ' |
Loans Receivable by Credit Quality Indicator | 46,717 | 33,686 |
Purchased credit-impaired loans | Pass | Retail consumer loans | ' | ' |
One- to four-family real estate loans | 4,947 | 4,904 |
Loans and Leases Receivable, Gross, Consumer, Home Equity | 57 | 7 |
Construction Loan | 457 | 791 |
Loans and Leases Receivable, Gross, Consumer | 15 | 41 |
Purchased credit-impaired loans | Pass | Commercial Loan | ' | ' |
Loans Receivable, Gross, Commercial, Real Estate | 32,823 | 20,853 |
Loans Receivable, Gross, Commercial, Construction | 1,914 | 2,443 |
Loans Receivable, Gross, Commercial and Industrial | 6,504 | 4,647 |
Purchased credit-impaired loans | Special Mention | ' | ' |
Loans Receivable by Credit Quality Indicator | 9,990 | 2,169 |
Purchased credit-impaired loans | Special Mention | Retail consumer loans | ' | ' |
One- to four-family real estate loans | 939 | ' |
Purchased credit-impaired loans | Special Mention | Commercial Loan | ' | ' |
Loans Receivable, Gross, Commercial, Real Estate | 6,817 | ' |
Loans Receivable, Gross, Commercial, Construction | 1,778 | 2,169 |
Loans Receivable, Gross, Commercial and Industrial | 456 | ' |
Purchased credit-impaired loans | Substandard | ' | ' |
Loans Receivable by Credit Quality Indicator | 20,382 | 10,619 |
Purchased credit-impaired loans | Substandard | Retail consumer loans | ' | ' |
One- to four-family real estate loans | 3,860 | 3,357 |
Loans and Leases Receivable, Gross, Consumer, Home Equity | 367 | 370 |
Construction Loan | 441 | 286 |
Purchased credit-impaired loans | Substandard | Commercial Loan | ' | ' |
Loans Receivable, Gross, Commercial, Real Estate | 10,786 | 4,858 |
Loans Receivable, Gross, Commercial, Construction | 3,752 | 1,040 |
Loans Receivable, Gross, Commercial and Industrial | 1,176 | 708 |
Purchased credit-impaired loans | Total by Grade | ' | ' |
Loans Receivable by Credit Quality Indicator | 77,089 | 46,474 |
Purchased credit-impaired loans | Total by Grade | Retail consumer loans | ' | ' |
One- to four-family real estate loans | 9,746 | 8,261 |
Loans and Leases Receivable, Gross, Consumer, Home Equity | 424 | 377 |
Construction Loan | 898 | 1,077 |
Loans and Leases Receivable, Gross, Consumer | 15 | 41 |
Purchased credit-impaired loans | Total by Grade | Commercial Loan | ' | ' |
Loans Receivable, Gross, Commercial, Real Estate | 50,426 | 25,711 |
Loans Receivable, Gross, Commercial, Construction | 7,444 | 5,652 |
Loans Receivable, Gross, Commercial and Industrial | $8,136 | $5,355 |
5_Loans_Schedule_of_Past_Due_F1
5. Loans: Schedule of Past Due Financing Receivables (Details) (USD $) | Sep. 30, 2014 | Jun. 30, 2014 |
In Thousands, unless otherwise specified | ||
OneToFourFamilyRealEstateLoansMember | ' | ' |
Financing receivable Recorded Investment 30 to 89 Days Past Due | $2,916 | ' |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 8,277 | ' |
Financing Receivable, Recorded Investment, Past Due | 11,193 | ' |
Financing Receivable, Recorded Investment, Current | 644,875 | ' |
Total Loans Receivable | 656,068 | ' |
OneToFourFamilyRealEstateLoansMember | Retail consumer loans | ' | ' |
Financing receivable Recorded Investment 30 to 89 Days Past Due | ' | 4,929 |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | ' | 8,208 |
Financing Receivable, Recorded Investment, Past Due | ' | 13,137 |
Financing Receivable, Recorded Investment, Current | ' | 647,063 |
Total Loans Receivable | ' | 660,200 |
Home Equity Line of Credit | Retail consumer loans | ' | ' |
Financing receivable Recorded Investment 30 to 89 Days Past Due | 375 | 400 |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 1,010 | 939 |
Financing Receivable, Recorded Investment, Past Due | 1,385 | 1,339 |
Financing Receivable, Recorded Investment, Current | 156,835 | 147,040 |
Total Loans Receivable | 158,220 | 148,379 |
Construction and land/lots loans | Retail consumer loans | ' | ' |
Financing receivable Recorded Investment 30 to 89 Days Past Due | 176 | 508 |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 732 | 122 |
Financing Receivable, Recorded Investment, Past Due | 908 | 630 |
Financing Receivable, Recorded Investment, Current | 60,873 | 58,619 |
Total Loans Receivable | 61,781 | 59,249 |
Consumer Loans Auto Financing Receivable | Retail consumer loans | ' | ' |
Financing receivable Recorded Investment 30 to 89 Days Past Due | 63 | ' |
Financing Receivable, Recorded Investment, Past Due | 63 | ' |
Financing Receivable, Recorded Investment, Current | 15,386 | 8,833 |
Total Loans Receivable | 15,449 | 8,833 |
Consumer Loan | Retail consumer loans | ' | ' |
Financing receivable Recorded Investment 30 to 89 Days Past Due | 31 | 34 |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 20 | 16 |
Financing Receivable, Recorded Investment, Past Due | 51 | 50 |
Financing Receivable, Recorded Investment, Current | 5,505 | 6,281 |
Total Loans Receivable | 5,556 | 6,331 |
Commercial Real Estate | Commercial Loan | ' | ' |
Financing receivable Recorded Investment 30 to 89 Days Past Due | 3,731 | 306 |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 8,064 | 6,729 |
Financing Receivable, Recorded Investment, Past Due | 11,795 | 7,035 |
Financing Receivable, Recorded Investment, Current | 443,424 | 370,734 |
Total Loans Receivable | 455,219 | 377,769 |
Construction Loan Payable | Commercial Loan | ' | ' |
Financing receivable Recorded Investment 30 to 89 Days Past Due | 111 | 1,165 |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 3,728 | 3,789 |
Financing Receivable, Recorded Investment, Past Due | 3,839 | 4,954 |
Financing Receivable, Recorded Investment, Current | 52,598 | 51,503 |
Total Loans Receivable | 56,437 | 56,457 |
Commercial and industrial loans | Commercial Loan | ' | ' |
Financing receivable Recorded Investment 30 to 89 Days Past Due | 207 | 183 |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 623 | 576 |
Financing Receivable, Recorded Investment, Past Due | 830 | 759 |
Financing Receivable, Recorded Investment, Current | 90,296 | 73,676 |
Total Loans Receivable | 91,126 | 74,435 |
Municipal leases | Commercial Loan | ' | ' |
Financing receivable Recorded Investment 30 to 89 Days Past Due | 555 | ' |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 303 | ' |
Financing Receivable, Recorded Investment, Past Due | 858 | ' |
Financing Receivable, Recorded Investment, Current | 108,221 | 106,215 |
Total Loans Receivable | 109,079 | 106,215 |
Total loans | ' | ' |
Financing receivable Recorded Investment 30 to 89 Days Past Due | 8,165 | 7,525 |
Financing Receivable, Recorded Investment, Equal to Greater than 90 Days Past Due | 22,757 | 20,379 |
Financing Receivable, Recorded Investment, Past Due | 30,922 | 27,904 |
Financing Receivable, Recorded Investment, Current | 1,578,013 | 1,469,964 |
Total Loans Receivable | $1,608,935 | $1,497,868 |
5_Loans_Schedule_of_Past_Due_L1
5. Loans: Schedule of Past Due Loans Still Accruing and Nonaccruing Interest (Details) (USD $) | Sep. 30, 2014 | Jun. 30, 2014 |
In Thousands, unless otherwise specified | ||
Total loans | ' | ' |
Financing Receivable, Recorded Investment, Nonaccrual Status | $45,473 | $47,011 |
Retail consumer loans | OneToFourFamilyRealEstateLoansMember | ' | ' |
Financing Receivable, Recorded Investment, Nonaccrual Status | 15,864 | 17,968 |
Retail consumer loans | Home Equity Line of Credit | ' | ' |
Financing Receivable, Recorded Investment, Nonaccrual Status | 2,765 | 3,114 |
Retail consumer loans | Construction and land/lots loans | ' | ' |
Financing Receivable, Recorded Investment, Nonaccrual Status | 782 | 688 |
Retail consumer loans | Consumer Loan | ' | ' |
Financing Receivable, Recorded Investment, Nonaccrual Status | 35 | 27 |
Commercial Loan | Commercial Real Estate | ' | ' |
Financing Receivable, Recorded Investment, Nonaccrual Status | 16,910 | 16,941 |
Commercial Loan | Construction Loan Payable | ' | ' |
Financing Receivable, Recorded Investment, Nonaccrual Status | 6,771 | 6,270 |
Commercial Loan | Commercial and industrial loans | ' | ' |
Financing Receivable, Recorded Investment, Nonaccrual Status | 2,043 | 2,003 |
Commercial Loan | Municipal leases | ' | ' |
Financing Receivable, Recorded Investment, Nonaccrual Status | $303 | ' |
5_Loans_Schedule_of_Troubled_D2
5. Loans: Schedule of Troubled Debt Restructurings Performing and Excluded from Nonaccruing Loans (Details) (Performing Financing Receivable, USD $) | Sep. 30, 2014 | Jun. 30, 2014 |
In Thousands, unless otherwise specified | ||
Performing Financing Receivable | ' | ' |
Performing restructured loans included in impaired loans | $18,737 | $22,179 |
5_Loans_Allowance_for_Credit_L1
5. Loans: Allowance for Credit Losses on Financing Receivables Table (Details) (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
Total loans | ' | ' |
Provision for Loan, Lease, and Other Losses | ($250) | ($2,300) |
Allowance for Loan and Lease Losses, Write-offs | -676 | -928 |
Allowance for Doubtful Accounts Receivable, Recoveries | 577 | 355 |
Total loans | Beginning of period | ' | ' |
Allowance for Doubtful Accounts Receivable | 23,429 | 32,073 |
Total loans | End of period | ' | ' |
Allowance for Doubtful Accounts Receivable | 23,080 | 29,200 |
Retail consumer loans | ' | ' |
Provision for Loan, Lease, and Other Losses | -674 | -1,639 |
Allowance for Loan and Lease Losses, Write-offs | -479 | -714 |
Allowance for Doubtful Accounts Receivable, Recoveries | 367 | 132 |
Retail consumer loans | Beginning of period | ' | ' |
Allowance for Doubtful Accounts Receivable | 15,731 | 21,952 |
Retail consumer loans | End of period | ' | ' |
Allowance for Doubtful Accounts Receivable | 14,945 | 19,731 |
Commercial Loan | ' | ' |
Provision for Loan, Lease, and Other Losses | 424 | -661 |
Allowance for Loan and Lease Losses, Write-offs | -197 | -214 |
Allowance for Doubtful Accounts Receivable, Recoveries | 210 | 223 |
Commercial Loan | Beginning of period | ' | ' |
Allowance for Doubtful Accounts Receivable | 7,698 | 10,121 |
Commercial Loan | End of period | ' | ' |
Allowance for Doubtful Accounts Receivable | $8,135 | $9,469 |
5_Loans_Schedule_of_Ending_Bal1
5. Loans: Schedule of Ending Balances of Loans and the Related Allowance by Segment and Class (Details) (USD $) | Sep. 30, 2014 | Jun. 30, 2014 |
In Thousands, unless otherwise specified | ||
Allowance for loan losses | ($23,080) | ($23,429) |
Automobile Loan | ' | ' |
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 198 | ' |
Allowance for loan losses | 198 | ' |
Financing Receivable, Collectively Evaluated for Impairment | 15,449 | ' |
Loans Receivable Gross | 15,449 | ' |
Consumer Loan | ' | ' |
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 3 | ' |
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 100 | ' |
Allowance for loan losses | 103 | ' |
Financing Receivable Purchased Credit-Impaired Loans | 15 | ' |
Financing Receivable, Individually Evaluated for Impairment | 9 | ' |
Financing Receivable, Collectively Evaluated for Impairment | 5,532 | ' |
Loans Receivable Gross | 5,556 | ' |
Retail consumer loans | One to four family loans | ' | ' |
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 432 | 493 |
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 9,082 | 10,034 |
Allowance for loan losses | 9,514 | 10,527 |
Financing Receivable Purchased Credit-Impaired Loans | 9,746 | 8,261 |
Financing Receivable, Individually Evaluated for Impairment | 23,328 | 23,929 |
Financing Receivable, Collectively Evaluated for Impairment | 622,994 | 628,010 |
Loans Receivable Gross | 656,068 | 660,200 |
Retail consumer loans | Home Equity Line of Credit | ' | ' |
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 154 | 134 |
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 2,225 | 2,353 |
Allowance for loan losses | 2,379 | 2,487 |
Financing Receivable Purchased Credit-Impaired Loans | 424 | 377 |
Financing Receivable, Individually Evaluated for Impairment | 2,653 | 3,014 |
Financing Receivable, Collectively Evaluated for Impairment | 155,143 | 144,988 |
Loans Receivable Gross | 158,220 | 148,379 |
Retail consumer loans | Construction and land/lots loans | ' | ' |
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 655 | 379 |
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 2,097 | 2,041 |
Allowance for loan losses | 2,752 | 2,420 |
Financing Receivable Purchased Credit-Impaired Loans | 898 | 1,077 |
Financing Receivable, Individually Evaluated for Impairment | 2,272 | 1,735 |
Financing Receivable, Collectively Evaluated for Impairment | 58,611 | 56,437 |
Loans Receivable Gross | 61,781 | 59,249 |
Retail consumer loans | Automobile Loan | ' | ' |
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | ' | 113 |
Allowance for loan losses | ' | 113 |
Financing Receivable, Collectively Evaluated for Impairment | ' | 8,833 |
Loans Receivable Gross | ' | 8,833 |
Retail consumer loans | Consumer Loan | ' | ' |
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | ' | 3 |
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | ' | 181 |
Allowance for loan losses | ' | 184 |
Financing Receivable Purchased Credit-Impaired Loans | ' | 41 |
Financing Receivable, Individually Evaluated for Impairment | ' | 10 |
Financing Receivable, Collectively Evaluated for Impairment | ' | 6,280 |
Loans Receivable Gross | ' | 6,331 |
Commercial Loan | Commercial Real Estate | ' | ' |
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 20 | 26 |
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 5,609 | 5,413 |
Allowance for loan losses | 5,629 | 5,439 |
Financing Receivable Purchased Credit-Impaired Loans | 50,426 | 25,711 |
Financing Receivable, Individually Evaluated for Impairment | 15,608 | 13,784 |
Financing Receivable, Collectively Evaluated for Impairment | 389,185 | 338,274 |
Loans Receivable Gross | 455,219 | 377,769 |
Commercial Loan | Construction Loan Payable | ' | ' |
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 67 | 26 |
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 1,265 | 1,215 |
Allowance for loan losses | 1,332 | 1,241 |
Financing Receivable Purchased Credit-Impaired Loans | 7,444 | 5,652 |
Financing Receivable, Individually Evaluated for Impairment | 5,509 | 5,571 |
Financing Receivable, Collectively Evaluated for Impairment | 43,484 | 45,234 |
Loans Receivable Gross | 56,437 | 56,457 |
Commercial Loan | Commercial and industrial loans | ' | ' |
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 1 | 3 |
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 444 | 246 |
Allowance for loan losses | 445 | 249 |
Financing Receivable Purchased Credit-Impaired Loans | 8,136 | 5,355 |
Financing Receivable, Individually Evaluated for Impairment | 2,243 | 2,378 |
Financing Receivable, Collectively Evaluated for Impairment | 80,747 | 66,702 |
Loans Receivable Gross | 91,126 | 74,435 |
Commercial Loan | Municipal leases | ' | ' |
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 728 | 769 |
Allowance for loan losses | 728 | 769 |
Financing Receivable, Collectively Evaluated for Impairment | 109,079 | 106,215 |
Loans Receivable Gross | 109,079 | 106,215 |
Commercial Loan | Total loans | ' | ' |
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment | 1,332 | 1,064 |
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment | 21,748 | 22,365 |
Allowance for loan losses | 23,080 | 23,429 |
Financing Receivable Purchased Credit-Impaired Loans | 77,089 | 46,474 |
Financing Receivable, Individually Evaluated for Impairment | 51,622 | 50,421 |
Financing Receivable, Collectively Evaluated for Impairment | 1,480,224 | 1,400,973 |
Loans Receivable Gross | $1,608,935 | $1,497,868 |
5_Loans_Schedule_Of_Impaired_L1
5. Loans: Schedule Of Impaired Loans And Related Allowance By Segment And Class (Details) (USD $) | Sep. 30, 2014 | Jun. 30, 2014 |
In Thousands, unless otherwise specified | ||
Total impaired loans | ' | ' |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | ' | $29,683 |
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | ' | 33,144 |
Impaired Financing Receivable, Recorded Investment | ' | 62,827 |
Impaired Financing Receivable, Related Allowance | ' | 1,491 |
Retail consumer loans | OneToFourFamilyRealEstateLoansMember | ' | ' |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 13,980 | 17,379 |
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 17,710 | 14,614 |
Impaired Financing Receivable, Recorded Investment | 31,690 | 31,993 |
Impaired Financing Receivable, Related Allowance | 540 | 678 |
Retail consumer loans | Home Equity Line of Credit | ' | ' |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 3,178 | 2,445 |
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 1,491 | 2,305 |
Impaired Financing Receivable, Recorded Investment | 4,669 | 4,750 |
Impaired Financing Receivable, Related Allowance | 188 | 166 |
Retail consumer loans | Construction and land/lots loans | ' | ' |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 1,723 | 1,737 |
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 627 | 109 |
Impaired Financing Receivable, Recorded Investment | 2,350 | 1,846 |
Impaired Financing Receivable, Related Allowance | 656 | 411 |
Retail consumer loans | Consumer Loan | ' | ' |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 26 | 16 |
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 9 | 11 |
Impaired Financing Receivable, Recorded Investment | 35 | 27 |
Impaired Financing Receivable, Related Allowance | 3 | 3 |
Commercial Loan | Commercial Real Estate | ' | ' |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 3,167 | 6,228 |
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 15,297 | 9,114 |
Impaired Financing Receivable, Recorded Investment | 18,464 | 15,342 |
Impaired Financing Receivable, Related Allowance | 48 | 166 |
Commercial Loan | Construction Loan Payable | ' | ' |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 2,182 | 1,043 |
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 3,892 | 5,088 |
Impaired Financing Receivable, Recorded Investment | 6,074 | 6,131 |
Impaired Financing Receivable, Related Allowance | 83 | 54 |
Commercial Loan | Commercial and industrial loans | ' | ' |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 820 | 835 |
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 2,243 | 1,903 |
Impaired Financing Receivable, Recorded Investment | 3,063 | 2,738 |
Impaired Financing Receivable, Related Allowance | 4 | 13 |
Commercial Loan | Municipal leases | ' | ' |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 303 | ' |
Impaired Financing Receivable, Recorded Investment | 303 | ' |
Impaired Financing Receivable, Related Allowance | 2 | ' |
Commercial Loan | Total impaired loans | ' | ' |
Impaired Financing Receivable, with Related Allowance, Recorded Investment | 25,379 | ' |
Impaired Financing Receivable, with No Related Allowance, Recorded Investment | 41,269 | ' |
Impaired Financing Receivable, Recorded Investment | 66,648 | ' |
Impaired Financing Receivable, Related Allowance | $1,524 | ' |
5_Loans_Impaired_Financing_Rec1
5. Loans: Impaired Financing Receivable, Policy (Details) (USD $) | Sep. 30, 2014 | Jun. 30, 2014 |
In Thousands, unless otherwise specified | ||
Details | ' | ' |
Impaired Loans Not Individually Evaluated | $15,026 | $12,406 |
Recorded Allowance of Impaired Loans Not Individually Evaluated | $192 | $427 |
5_Loans_Schedule_of_Average_Re1
5. Loans: Schedule of Average Recorded Investment in Loans, Unpaid Principal Balance and Interest Income Recognized (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
Total impaired loans | ' | ' |
Impaired Financing Receivable, Average Recorded Investment | $64,738 | $93,608 |
Impaired Financing Receivable, Unpaid Principal Balance | 87,494 | 111,320 |
Impaired Financing Receivable, Interest Income, Accrual Method | 883 | 691 |
Retail consumer loans | OneToFourFamilyRealEstateLoansMember | ' | ' |
Impaired Financing Receivable, Average Recorded Investment | 31,842 | 44,682 |
Impaired Financing Receivable, Unpaid Principal Balance | 35,147 | 48,252 |
Impaired Financing Receivable, Interest Income, Accrual Method | 451 | 364 |
Retail consumer loans | Home Equity Line of Credit | ' | ' |
Impaired Financing Receivable, Average Recorded Investment | 4,710 | 5,938 |
Impaired Financing Receivable, Unpaid Principal Balance | 6,348 | 8,970 |
Impaired Financing Receivable, Interest Income, Accrual Method | 75 | 70 |
Retail consumer loans | Construction and land/lots loans | ' | ' |
Impaired Financing Receivable, Average Recorded Investment | 2,098 | 2,556 |
Impaired Financing Receivable, Unpaid Principal Balance | 3,675 | 5,023 |
Impaired Financing Receivable, Interest Income, Accrual Method | 36 | 42 |
Retail consumer loans | Consumer Loan | ' | ' |
Impaired Financing Receivable, Average Recorded Investment | 31 | 59 |
Impaired Financing Receivable, Unpaid Principal Balance | 1,147 | 181 |
Impaired Financing Receivable, Interest Income, Accrual Method | 3 | 1 |
Commercial Loan | Commercial Real Estate | ' | ' |
Impaired Financing Receivable, Average Recorded Investment | 16,903 | 26,535 |
Impaired Financing Receivable, Unpaid Principal Balance | 26,291 | 30,055 |
Impaired Financing Receivable, Interest Income, Accrual Method | 210 | 143 |
Commercial Loan | Construction Loan Payable | ' | ' |
Impaired Financing Receivable, Average Recorded Investment | 6,103 | 10,978 |
Impaired Financing Receivable, Unpaid Principal Balance | 9,541 | 15,368 |
Impaired Financing Receivable, Interest Income, Accrual Method | 32 | 33 |
Commercial Loan | Commercial and industrial loans | ' | ' |
Impaired Financing Receivable, Average Recorded Investment | 2,901 | 2,860 |
Impaired Financing Receivable, Unpaid Principal Balance | 5,042 | 3,471 |
Impaired Financing Receivable, Interest Income, Accrual Method | 76 | 38 |
Commercial Loan | Municipal leases | ' | ' |
Impaired Financing Receivable, Average Recorded Investment | 152 | ' |
Impaired Financing Receivable, Unpaid Principal Balance | $303 | ' |
5_Loans_Schedule_Of_Changes_In1
5. Loans: Schedule Of Changes In Accretable Yield For Purchased Impaired Loans (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
Bank of Commerce | ' | ' |
Certain Loans Acquired in Transfer Accretable Yield Additions | $7,315 | $1,835 |
Certain Loans Acquired in Transfer Accretable Yield Interest Income | -931 | -100 |
Beginning of period | ' | ' |
Certain Loans Acquired in Transfer, Accretable Yield | 6,151 | ' |
End of period | ' | ' |
Certain Loans Acquired in Transfer, Accretable Yield | $12,535 | $1,735 |
5_Loans_Schedule_of_Purchased_2
5. Loans: Schedule of Purchased Performing Loans Receivable -- Bank of Commerce (Details) (Bank of Commerce, Purchased Performing Loans, USD $) | Sep. 30, 2014 | Jun. 30, 2014 |
In Thousands, unless otherwise specified | ||
Bank of Commerce | Purchased Performing Loans | ' | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Acquired During Period, Contractually Required Payments Receivable at Acquisition | $46,812 | $47,291 |
Business Combination Adjustment for Credit, Interest Rate, and Liquidity | 1,150 | 1,159 |
Business Combination, Acquired Receivables, Fair Value | $45,662 | $46,132 |
5_Loans_Schedule_of_Purchased_3
5. Loans: Schedule of Purchased Impaired Loans Receivable -- Bank of Commerce (Details) (Bank of Commerce, Purchased Impaired Loans, USD $) | Jul. 31, 2014 |
In Thousands, unless otherwise specified | |
Bank of Commerce | Purchased Impaired Loans | ' |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Acquired During Period, Contractually Required Payments Receivable at Acquisition | $49,870 |
Certain Loans Acquired in Transfer, Nonaccretable Difference | 2,300 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Acquired During Period, Cash Flows Expected to be Collected at Acquisition | 47,570 |
Certain Loans Acquired in Transfer, Accretable Yield | 7,315 |
Business Combination Acquired Impaired Loans Receivable Fair Value | $40,255 |
5_Loans_Schedule_of_Debtor_Tro1
5. Loans: Schedule of Debtor Troubled Debt Restructuring, Current Period (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
Troubled Debt Restructurings | ' | ' |
Financing Receivable, Modifications, Number of Contracts | 8 | 5 |
Financing Receivable, Modifications, Pre-Modification Recorded Investment | $712 | $725 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 722 | 728 |
Below market interest rate | Retail consumer loans | OneToFourFamilyRealEstateLoansMember | ' | ' |
Financing Receivable, Modifications, Number of Contracts | ' | 1 |
Financing Receivable, Modifications, Pre-Modification Recorded Investment | ' | 18 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | ' | 17 |
Below market interest rate | Retail consumer loans | Total loans | ' | ' |
Financing Receivable, Modifications, Number of Contracts | ' | 1 |
Financing Receivable, Modifications, Pre-Modification Recorded Investment | ' | 18 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | ' | 17 |
Extended payment terms | Retail consumer loans | OneToFourFamilyRealEstateLoansMember | ' | ' |
Financing Receivable, Modifications, Number of Contracts | 1 | ' |
Financing Receivable, Modifications, Pre-Modification Recorded Investment | 146 | ' |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 147 | ' |
Extended payment terms | Retail consumer loans | Total loans | ' | ' |
Financing Receivable, Modifications, Number of Contracts | 2 | ' |
Financing Receivable, Modifications, Pre-Modification Recorded Investment | 192 | ' |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 193 | ' |
Extended payment terms | Retail consumer loans | Home Equity Line of Credit | ' | ' |
Financing Receivable, Modifications, Number of Contracts | 1 | ' |
Financing Receivable, Modifications, Pre-Modification Recorded Investment | 46 | ' |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 46 | ' |
Other Troubled Debt Restructurings | Retail consumer loans | OneToFourFamilyRealEstateLoansMember | ' | ' |
Financing Receivable, Modifications, Number of Contracts | 4 | 3 |
Financing Receivable, Modifications, Pre-Modification Recorded Investment | 314 | 572 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 324 | 576 |
Other Troubled Debt Restructurings | Retail consumer loans | Total loans | ' | ' |
Financing Receivable, Modifications, Number of Contracts | 6 | 4 |
Financing Receivable, Modifications, Pre-Modification Recorded Investment | 520 | 707 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 529 | 711 |
Other Troubled Debt Restructurings | Retail consumer loans | Home Equity Line of Credit | ' | ' |
Financing Receivable, Modifications, Number of Contracts | 1 | ' |
Financing Receivable, Modifications, Pre-Modification Recorded Investment | 100 | ' |
Financing Receivable, Modifications, Post-Modification Recorded Investment | 105 | ' |
Other Troubled Debt Restructurings | Retail consumer loans | Construction and land/lots loans | ' | ' |
Financing Receivable, Modifications, Number of Contracts | 1 | 1 |
Financing Receivable, Modifications, Pre-Modification Recorded Investment | 106 | 135 |
Financing Receivable, Modifications, Post-Modification Recorded Investment | $100 | $135 |
5_Loans_Schedule_of_Troubled_D3
5. Loans: Schedule of Troubled Debt Restructurings With Payment Default (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
Total troubled debt restructured loans subsequent default | ' | ' |
Troubled Debt Restructuring Subsequent Default Number of Loans | 6 | 15 |
Troubled Debt Restructuring Subsequent Default Recorded Investment | $312 | $2,133 |
Extended payment terms | Commercial Loan | Total loans | ' | ' |
Troubled Debt Restructuring Subsequent Default Number of Loans | ' | 3 |
Troubled Debt Restructuring Subsequent Default Recorded Investment | ' | 46 |
Extended payment terms | Commercial Loan | Commercial and industrial loans | ' | ' |
Troubled Debt Restructuring Subsequent Default Number of Loans | ' | 1 |
Troubled Debt Restructuring Subsequent Default Recorded Investment | ' | 25 |
Extended payment terms | Retail consumer loans | OneToFourFamilyRealEstateLoansMember | ' | ' |
Troubled Debt Restructuring Subsequent Default Number of Loans | ' | 1 |
Troubled Debt Restructuring Subsequent Default Recorded Investment | ' | 10 |
Extended payment terms | Retail consumer loans | Home Equity Line of Credit | ' | ' |
Troubled Debt Restructuring Subsequent Default Number of Loans | ' | 1 |
Troubled Debt Restructuring Subsequent Default Recorded Investment | ' | 11 |
Other Troubled Debt Restructurings | Commercial Loan | Total loans | ' | ' |
Troubled Debt Restructuring Subsequent Default Number of Loans | 4 | 12 |
Troubled Debt Restructuring Subsequent Default Recorded Investment | 312 | 2,087 |
Other Troubled Debt Restructurings | Commercial Loan | Commercial Real Estate | ' | ' |
Troubled Debt Restructuring Subsequent Default Number of Loans | ' | 3 |
Troubled Debt Restructuring Subsequent Default Recorded Investment | ' | 381 |
Other Troubled Debt Restructurings | Retail consumer loans | OneToFourFamilyRealEstateLoansMember | ' | ' |
Troubled Debt Restructuring Subsequent Default Number of Loans | 4 | 7 |
Troubled Debt Restructuring Subsequent Default Recorded Investment | 312 | 1,523 |
Other Troubled Debt Restructurings | Retail consumer loans | Home Equity Line of Credit | ' | ' |
Troubled Debt Restructuring Subsequent Default Number of Loans | ' | 1 |
Troubled Debt Restructuring Subsequent Default Recorded Investment | ' | 48 |
Other Troubled Debt Restructurings | Retail consumer loans | Construction and land/lots loans | ' | ' |
Troubled Debt Restructuring Subsequent Default Number of Loans | ' | 1 |
Troubled Debt Restructuring Subsequent Default Recorded Investment | ' | $135 |
6_Net_Income_Per_Share_Schedul1
6. Net Income Per Share: Schedule of Earnings Per Share, Basic and Diluted (Details) (USD $) | 3 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
Basic | 19,178,607 | 19,288,154 |
Diluted | 19,242,722 | 19,377,896 |
Earnings Per Share | Numerator | ' | ' |
Net Income (Loss) Available to Common Stockholders, Basic | 2,256 | 3,327 |
Earnings Per Share | Denominator | ' | ' |
Basic | 19,178,607 | 19,288,154 |
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements | 64,115 | 89,742 |
Diluted | 19,242,722 | 19,377,896 |
Income (Loss) from Continuing Operations, Per Basic Share | 0.12 | 0.17 |
Income (Loss) from Continuing Operations, Per Diluted Share | 0.12 | 0.17 |
6_Net_Income_Per_Share_Earning1
6. Net Income Per Share: Earnings Per Share, Policy: Antidilutive Stock Options (Details) | 3 Months Ended | |
Sep. 30, 2014 | Sep. 30, 2013 | |
Details | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 1,495,500 | 1,557,000 |
7_Equity_Incentive_Plan_Equity2
7. Equity Incentive Plan: Equity Incentive Plan Policy: 2013 Omnibus Incentive Plan (Details) | 3 Months Ended |
Sep. 30, 2014 | |
Equity Incentive Plan Name | '2013 Omnibus Incentive Plan |
2013 Omnibus Incentive Plan | ' |
Equity Incentive Plan Description | 'provides for awards of restricted stock, restricted stock units, stock options, stock appreciation rights and cash awards to directors, emeritus directors, officers, employees and advisory directors |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 2,962,400 |
Shares Held for awards of stock options and stock appreciation rights | 2,116,000 |
Shares held for awards of restricted stock and restricted stock units | 846,400 |
7_Equity_Incentive_Plan_Equity3
7. Equity Incentive Plan: Equity Incentive Plan Policy: Shares under the 2013 Omnibus Incentive Plan (Details) (USD $) | 12 Months Ended |
Jun. 30, 2013 | |
Details | ' |
Stock Repurchased During Period, Shares | 846,400 |
Stock Repurchase Program, Authorized Amount | $13,300 |
Share-based Compensation Arrangement by Share-based Payment Award, Per Share Weighted Average Price of Shares Purchased | $15.71 |
7_Equity_Incentive_Plan_Equity4
7. Equity Incentive Plan: Equity Incentive Plan Policy: Share-based Compensation Expense (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
Details | ' | ' |
Share based compensation expense related to stock options and restricted stock recognized | $753 | $668 |
Employee Service Share Based Compensation Tax Benefit from Restricted Stock Compensation Expense | $279 | $247 |
7_Equity_Incentive_Plan_Equity5
7. Equity Incentive Plan: Equity Incentive Plan Stock Option Activity (Details) (USD $) | 3 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
Outstanding Stock Options | Beginning of period | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 1,513,500 | 1,557,000 |
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $14.40 | $14.37 |
Share-based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Remaining Contractual Term | 8.6 | 9.6 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value | $2,077 | $4,033 |
Outstanding Stock Options | End of period | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 1,495,500 | 1,557,000 |
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $14.40 | $14.37 |
Share-based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Remaining Contractual Term | 8.4 | 9.3 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value | $352 | $3,316 |
Options Exercised | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 18,000 | ' |
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $14.37 | ' |
Options Exercisable | End of period | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 272,175 | ' |
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $14.37 | ' |
Share-based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Remaining Contractual Term | 8.4 | ' |
7_Equity_Incentive_Plan_Fair_V1
7. Equity Incentive Plan: Fair Value Options Granted Policy: Weighted Average Fair Value of Options Granted (Details) (USD $) | 12 Months Ended | |
Jun. 30, 2014 | Jun. 30, 2013 | |
Details | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Weighted Average Grant Date Fair Value | $5.26 | $4.50 |
7_Equity_Incentive_Plan_Schedu2
7. Equity Incentive Plan: Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions (Details) | 12 Months Ended | |
Jun. 30, 2014 | Jun. 30, 2013 | |
Details | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Weighted Average Volatility Rate | 28.19% | 28.19% |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 0.00% | 0.00% |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 2.04% | 1.28% |
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedTermMinimum | 6.5 | 6.6 |
7_Equity_Incentive_Plan_Unreco2
7. Equity Incentive Plan: Unrecognized Compensation Expenses for Stock Options Policy (Details) (Stock Option Activity, USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
Stock Option Activity | ' | ' |
Unrecognized Compensation Expense | $4,700 | $6,100 |
Share-based Compensation Arrangement by Share-based Payment Award, Description | 'related to 1,495,500 stock options scheduled to vest over five- and seven-year vesting periods | 'related to 1,557,000 stock options scheduled to vest over five- and seven-year vesting periods |
Unrecognized Compensation Costs on Stock Option Awards Weighted Average Period of Recognition | 2 | 4.5 |
7_Equity_Incentive_Plan_Schedu3
7. Equity Incentive Plan: Schedule of Nonvested Restricted Stock Units Activity (Details) (Nonvested Options, USD $) | 3 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
Beginning of period | ' | ' |
Shares held for awards of restricted stock and restricted stock units | 403,965 | 511,300 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested Options Forfeited, Weighted Average Grant Date Fair Value | $14.39 | $14.37 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value | $6,371 | $8,672 |
End of period | ' | ' |
Shares held for awards of restricted stock and restricted stock units | 403,965 | 511,300 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested Options Forfeited, Weighted Average Grant Date Fair Value | $14.39 | $14.37 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value | $5,902 | $8,436 |
7_Equity_Incentive_Plan_Unreco3
7. Equity Incentive Plan: Unrecognized Compensation Expenses for Restricted Stock Policy: Restricted Stock Compensation Expense (Details) (Restricted Stock, USD $) | 3 Months Ended | 12 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Jun. 30, 2014 | Sep. 30, 2013 |
Restricted Stock | ' | ' | ' |
Unrecognized Compensation Expense | $4,900 | ' | $6,400 |
Share-based Compensation Arrangement by Share-based Payment Award, Description | '403,965 shares of restricted stock scheduled to vest over five- and seven-year vesting periods | '511,300 shares of restricted stock scheduled to vest over five- and seven-year vesting periods | ' |
Unrecognized Compensation Costs on Stock Option Awards Weighted Average Period of Recognition | 2 | ' | 4.5 |
8_Commitments_and_Contingencie5
8. Commitments and Contingencies: Loan Commitments, Policy (Details) (USD $) | 3 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Jun. 30, 2014 |
Unused Commitments to Extend Credit | $18,533 | $28,360 |
Loans and Leases Receivable, Commitments, Variable Rates | 2,532 | 3,620 |
Loans and Leases Receivable, Commitments, Fixed Rates | 16,001 | 24,740 |
Line of Credit Facility, Remaining Borrowing Capacity | 204,047 | 167,630 |
Minimum | ' | ' |
Loan Commitments with Fixed Rate Interest Rate Range | '1.99 % | '1.85 % |
Maximum | ' | ' |
Loan Commitments with Fixed Rate Interest Rate Range | '8.00 % | '10.51 % |
Construction Loan Payable | ' | ' |
Unused Commitments to Extend Credit | $33,636 | $27,086 |
8_Commitments_and_Contingencie6
8. Commitments and Contingencies: Restrictions on Cash Policy (Details) (USD $) | Sep. 30, 2014 | Jun. 30, 2014 |
In Thousands, unless otherwise specified | ||
Cash Reserve Deposit Required and Made | $11,631 | $8,087 |
8_Commitments_and_Contingencie7
8. Commitments and Contingencies: Standby Letters of Credit Policy (Details) (USD $) | Sep. 30, 2014 | Jun. 30, 2014 |
In Thousands, unless otherwise specified | ||
Details | ' | ' |
Letters of Credit Outstanding, Amount | $1,520 | $483 |
8_Commitments_and_Contingencie8
8. Commitments and Contingencies: Legal Matters and Contingencies (Details) (USD $) | 3 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2014 |
Details | ' |
Loss Contingency, Damages Sought, Value | $12,500 |
9_Fair_Value_of_Financial_Inst6
9. Fair Value of Financial Instruments: Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis (Details) (USD $) | Sep. 30, 2014 | Jun. 30, 2014 |
In Thousands, unless otherwise specified | ||
Estimate of Fair Value, Fair Value Disclosure | US Government Agencies | ' | ' |
Assets, Fair Value Disclosure, Recurring | $38,809 | $38,093 |
Estimate of Fair Value, Fair Value Disclosure | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises | ' | ' |
Assets, Fair Value Disclosure, Recurring | 117,299 | 111,411 |
Estimate of Fair Value, Fair Value Disclosure | Taxable Municipal Bonds | ' | ' |
Assets, Fair Value Disclosure, Recurring | 16,136 | 16,220 |
Estimate of Fair Value, Fair Value Disclosure | Corporate Bond Securities | ' | ' |
Assets, Fair Value Disclosure, Recurring | 3,993 | 3,025 |
Estimate of Fair Value, Fair Value Disclosure | Total fair value assets recurring | ' | ' |
Assets, Fair Value Disclosure, Recurring | 176,237 | 168,749 |
Fair Value, Inputs, Level 2 | US Government Agencies | ' | ' |
Assets, Fair Value Disclosure, Recurring | 38,809 | 38,093 |
Fair Value, Inputs, Level 2 | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises | ' | ' |
Assets, Fair Value Disclosure, Recurring | 117,299 | 111,411 |
Fair Value, Inputs, Level 2 | Taxable Municipal Bonds | ' | ' |
Assets, Fair Value Disclosure, Recurring | 16,136 | 16,220 |
Fair Value, Inputs, Level 2 | Corporate Bond Securities | ' | ' |
Assets, Fair Value Disclosure, Recurring | 3,993 | 3,025 |
Fair Value, Inputs, Level 2 | Total fair value assets recurring | ' | ' |
Assets, Fair Value Disclosure, Recurring | $176,237 | $168,749 |
9_Fair_Value_of_Financial_Inst7
9. Fair Value of Financial Instruments: Schedule of Fair Value Measurements, Nonrecurring (Details) (USD $) | Sep. 30, 2014 | Jun. 30, 2014 |
In Thousands, unless otherwise specified | ||
Other real estate owned | ' | ' |
Assets, Fair Value Disclosure, Nonrecurring | $333 | ' |
Estimate of Fair Value, Fair Value Disclosure | Impaired loans | ' | ' |
Assets, Fair Value Disclosure, Nonrecurring | 2,534 | 3,686 |
Estimate of Fair Value, Fair Value Disclosure | Other real estate owned | ' | ' |
Assets, Fair Value Disclosure, Nonrecurring | 333 | 9,185 |
Estimate of Fair Value, Fair Value Disclosure | Total fair value nonrecurring | ' | ' |
Assets, Fair Value Disclosure, Nonrecurring | 2,867 | 12,871 |
Fair Value, Inputs, Level 3 | Impaired loans | ' | ' |
Assets, Fair Value Disclosure, Nonrecurring | 2,534 | 3,686 |
Fair Value, Inputs, Level 3 | Other real estate owned | ' | ' |
Assets, Fair Value Disclosure, Nonrecurring | 333 | 9,185 |
Fair Value, Inputs, Level 3 | Total fair value nonrecurring | ' | ' |
Assets, Fair Value Disclosure, Nonrecurring | $2,867 | $12,871 |
9_Fair_Value_of_Financial_Inst8
9. Fair Value of Financial Instruments: Schedule of Quantitative Information About Level 3 Fair Value Measurements (Details) (USD $) | 3 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2014 |
Other real estate owned | ' |
Assets, Fair Value Disclosure, Nonrecurring | $333 |
Fair Value Measurements, Valuation Techniques | 'Discounted appraisals |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Gain (Loss) Included in Earnings, Description | 'Collateral discounts |
Level 3 Fair Value Measurements Range | '15% - 28% |
Level 3 Fair Value Measurements Weighted Average Rate | 18.00% |
Nonrecurring measurements | Impaired loans, net | ' |
Assets, Fair Value Disclosure, Nonrecurring | $2,534 |
Fair Value Measurements, Valuation Techniques | 'Discounted appraisals |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Gain (Loss) Included in Earnings, Description | 'Collateral discounts |
Level 3 Fair Value Measurements Range | '3% - 49% |
Level 3 Fair Value Measurements Weighted Average Rate | 23.00% |
9_Fair_Value_of_Financial_Inst9
9. Fair Value of Financial Instruments: Schedule of Fair Value, by Balance Sheet Grouping (Details) (USD $) | Sep. 30, 2014 | Jun. 30, 2014 |
In Thousands, unless otherwise specified | ||
Fair Value, Inputs, Level 1 | Cash and interest-bearing deposits | ' | ' |
Financial Instruments Owned | $32,223 | $45,830 |
Fair Value, Inputs, Level 1 | Loans, net | ' | ' |
Financial Instruments Owned | 12,758 | 3,697 |
Fair Value, Inputs, Level 2 | Certificates of deposit in other banks | ' | ' |
Financial Instruments Owned | 175,869 | 163,780 |
Fair Value, Inputs, Level 2 | Securities available for sale | ' | ' |
Financial Instruments Owned | 176,237 | 168,749 |
Fair Value, Inputs, Level 2 | Accrued interest receivable | ' | ' |
Financial Instruments Owned | 855 | 736 |
Fair Value, Inputs, Level 2 | Noninterest-bearing and NOW deposits | ' | ' |
Financial Instruments Owned | 445,743 | 418,671 |
Fair Value, Inputs, Level 2 | Money market accounts | ' | ' |
Financial Instruments Owned | 405,334 | 354,247 |
Fair Value, Inputs, Level 2 | Savings accounts | ' | ' |
Financial Instruments Owned | 194,835 | 175,974 |
Fair Value, Inputs, Level 2 | Certificates of deposit | ' | ' |
Financial Instruments Owned | 614,382 | 620,196 |
Fair Value, Inputs, Level 2 | Other borrowings | ' | ' |
Financial Instruments Owned | 112,000 | 50,000 |
Fair Value, Inputs, Level 2 | Accrued interest payable | ' | ' |
Financial Instruments Owned | 211 | 244 |
Fair Value, Inputs, Level 3 | Loans held for sale | ' | ' |
Financial Instruments Owned | 2,674 | 2,578 |
Fair Value, Inputs, Level 3 | Federal Home Loan Bank stock | ' | ' |
Financial Instruments Owned | 1,486,612 | 1,381,438 |
Fair Value, Inputs, Level 3 | Accrued interest receivable | ' | ' |
Financial Instruments Owned | 6,415 | 6,051 |
Financial Instruments Owned Carrying Value | Cash and interest-bearing deposits | ' | ' |
Financial Instruments Owned | 32,223 | 45,830 |
Financial Instruments Owned Carrying Value | Certificates of deposit in other banks | ' | ' |
Financial Instruments Owned | 175,869 | 163,780 |
Financial Instruments Owned Carrying Value | Securities available for sale | ' | ' |
Financial Instruments Owned | 176,237 | 168,749 |
Financial Instruments Owned Carrying Value | Loans, net | ' | ' |
Financial Instruments Owned | 12,758 | 3,697 |
Financial Instruments Owned Carrying Value | Loans held for sale | ' | ' |
Financial Instruments Owned | 2,632 | 2,537 |
Financial Instruments Owned Carrying Value | Federal Home Loan Bank stock | ' | ' |
Financial Instruments Owned | 1,585,134 | 1,473,099 |
Financial Instruments Owned Carrying Value | Accrued interest receivable | ' | ' |
Financial Instruments Owned | 7,270 | 6,787 |
Financial Instruments Owned Carrying Value | Noninterest-bearing and NOW deposits | ' | ' |
Financial Instruments Owned | 445,743 | 418,671 |
Financial Instruments Owned Carrying Value | Money market accounts | ' | ' |
Financial Instruments Owned | 405,334 | 354,247 |
Financial Instruments Owned Carrying Value | Savings accounts | ' | ' |
Financial Instruments Owned | 194,835 | 175,974 |
Financial Instruments Owned Carrying Value | Certificates of deposit | ' | ' |
Financial Instruments Owned | 612,881 | 634,154 |
Financial Instruments Owned Carrying Value | Other borrowings | ' | ' |
Financial Instruments Owned | 112,000 | 50,000 |
Financial Instruments Owned Carrying Value | Accrued interest payable | ' | ' |
Financial Instruments Owned | 211 | 244 |
Portion at Fair Value, Fair Value Disclosure | Cash and interest-bearing deposits | ' | ' |
Financial Instruments Owned | 32,223 | 45,830 |
Portion at Fair Value, Fair Value Disclosure | Certificates of deposit in other banks | ' | ' |
Financial Instruments Owned | 175,869 | 163,780 |
Portion at Fair Value, Fair Value Disclosure | Securities available for sale | ' | ' |
Financial Instruments Owned | 176,237 | 168,749 |
Portion at Fair Value, Fair Value Disclosure | Loans, net | ' | ' |
Financial Instruments Owned | 12,758 | 3,697 |
Portion at Fair Value, Fair Value Disclosure | Loans held for sale | ' | ' |
Financial Instruments Owned | 2,674 | 2,578 |
Portion at Fair Value, Fair Value Disclosure | Federal Home Loan Bank stock | ' | ' |
Financial Instruments Owned | 1,486,612 | 1,381,438 |
Portion at Fair Value, Fair Value Disclosure | Accrued interest receivable | ' | ' |
Financial Instruments Owned | 7,270 | 6,787 |
Portion at Fair Value, Fair Value Disclosure | Noninterest-bearing and NOW deposits | ' | ' |
Financial Instruments Owned | 445,743 | 418,671 |
Portion at Fair Value, Fair Value Disclosure | Money market accounts | ' | ' |
Financial Instruments Owned | 405,334 | 354,247 |
Portion at Fair Value, Fair Value Disclosure | Savings accounts | ' | ' |
Financial Instruments Owned | 194,835 | 175,974 |
Portion at Fair Value, Fair Value Disclosure | Certificates of deposit | ' | ' |
Financial Instruments Owned | 614,382 | 620,196 |
Portion at Fair Value, Fair Value Disclosure | Other borrowings | ' | ' |
Financial Instruments Owned | 112,000 | 50,000 |
Portion at Fair Value, Fair Value Disclosure | Accrued interest payable | ' | ' |
Financial Instruments Owned | $211 | $244 |
Recovered_Sheet6
9. Fair Value of Financial Instruments: Off-Balance-Sheet Credit Exposure, Policy (Details) (USD $) | Sep. 30, 2014 | Jun. 30, 2014 |
In Thousands, unless otherwise specified | ||
Details | ' | ' |
Fair Value Disclosure, Off-balance Sheet Risks, Amount, Liability | $256,216 | $223,076 |