Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended | |
Mar. 31, 2015 | 6-May-15 | |
Document and Entity Information: | ||
Entity Registrant Name | HomeTrust Bancshares, Inc. | |
Entity Central Index Key | 1538263 | |
Current Fiscal Year End Date | -24 | |
Entity Filer Category | Accelerated Filer | |
Document Type | 10-Q | |
Document Period End Date | 31-Mar-15 | |
Document Fiscal Year Focus | 2015 | |
Document Fiscal Period Focus | Q3 | |
Amendment Flag | FALSE | |
Entity Common Stock, Shares Outstanding | 20,234,574 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Mar. 31, 2015 | Jun. 30, 2014 |
In Thousands, unless otherwise specified | ||
Assets | ||
Cash | $40,988 | $19,801 |
Interest-bearing deposits | 253,671 | 26,029 |
Cash and cash equivalents | 294,659 | 45,830 |
Certificates of deposit in other banks | 204,596 | 163,780 |
Securities available for sale, at fair value | 230,512 | 168,749 |
Other investments, at cost | 19,142 | 3,697 |
Loans held for sale | 2,225 | 2,537 |
Total loans, net of deferred loan fees and discount | 1,641,057 | 1,496,528 |
Allowance for loan losses | -22,681 | -23,429 |
Net loans | 1,618,376 | 1,473,099 |
Premises and equipment, net | 58,943 | 47,411 |
Accrued interest receivable | 7,249 | 6,787 |
Real estate owned (REO) | 8,558 | 15,725 |
Deferred income taxes | 57,649 | 58,381 |
Bank owned life insurance | 77,050 | 71,285 |
Goodwill | 13,768 | 9,815 |
Core deposit intangibles | 10,850 | 4,014 |
Other assets | 5,060 | 3,344 |
Total Assets | 2,608,637 | 2,074,454 |
Liabilities | ||
Deposits | 1,913,773 | 1,583,047 |
Other borrowings | 250,000 | 50,000 |
Capital lease obligations | 1,984 | 1,998 |
Other liabilities | 60,945 | 62,258 |
Total liabilities | 2,226,702 | 1,697,303 |
Stockholders' Equity | ||
Preferred stock, $0.01 par value, 10,000,000 shares authorized, none issued or outstanding | 0 | 0 |
Common stock, $0.01 par value, 60,000,000 shares authorized, 20,335,781 shares issued and outstanding at March 31, 2015; 20,632,008 at June 30, 2014 | 203 | 207 |
Additional paid in capital | 223,234 | 225,889 |
Retained earnings | 165,799 | 160,332 |
Unearned Employee Stock Ownership Plan (ESOP) shares | -9,125 | -9,522 |
Accumulated other comprehensive income | 1,824 | 245 |
Total stockholders' equity | 381,935 | 377,151 |
Total Liabilities and Stockholders' Equity | $2,608,637 | $2,074,454 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parentheticals) (USD $) | Mar. 31, 2015 | Jun. 30, 2014 |
Statement of Financial Position [Abstract] | ||
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 | 20,335,781 | 20,632,008 |
Common stock shares outstanding | 20,335,781 | 20,632,008 |
Consolidated_Statements_of_Inc
Consolidated Statements of Income (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Mar. 31, 2015 | Mar. 31, 2014 |
Interest and Dividend Income | ||||
Loans | $19,575 | $13,557 | $57,954 | $42,010 |
Securities available for sale | 919 | 376 | 2,608 | 1,097 |
Certificates of deposit and other interest-bearing deposits | 781 | 439 | 1,846 | 1,346 |
Other investments | 261 | 20 | 551 | 47 |
Total interest and dividend income | 21,536 | 14,392 | 62,959 | 44,500 |
Interest Expense | ||||
Deposits | 1,220 | 1,247 | 3,710 | 4,172 |
Other borrowings | 128 | 1 | 271 | 5 |
Total interest expense | 1,348 | 1,248 | 3,981 | 4,177 |
Net Interest Income | 20,188 | 13,144 | 58,978 | 40,323 |
Recovery of Loan Losses | 0 | -1,800 | -250 | -4,800 |
Net Interest Income after Recovery for Loan Losses | 20,188 | 14,944 | 59,228 | 45,123 |
Noninterest Income | ||||
Service charges on deposit accounts | 1,732 | 620 | 4,111 | 1,954 |
Mortgage banking income and fees | 672 | 632 | 2,232 | 2,417 |
Gain from sales of securities available for sale | 0 | 10 | 61 | 10 |
Other, net | 909 | 763 | 2,497 | 2,161 |
Total noninterest income | 3,313 | 2,025 | 8,901 | 6,542 |
Noninterest Expense | ||||
Salaries and employee benefits | 10,629 | 7,496 | 30,506 | 22,192 |
Net occupancy expense | 2,381 | 1,284 | 6,266 | 3,746 |
Marketing and advertising | 461 | 336 | 1,472 | 1,028 |
Telephone, postage, and supplies | 912 | 403 | 2,348 | 1,269 |
Deposit insurance premiums | 608 | 321 | 1,453 | 989 |
Computer services | 1,763 | 828 | 4,366 | 2,652 |
Loss (gain) on sale and impairment of REO | -32 | 468 | -268 | 673 |
REO expense | 390 | 333 | 1,178 | 1,154 |
Core deposit intangible amortization | 842 | 31 | 1,740 | 95 |
Merger-related expenses | 1,686 | 449 | 5,417 | 711 |
Other | 2,385 | 1,447 | 6,179 | 4,109 |
Total other expense | 22,025 | 13,396 | 60,657 | 38,618 |
Income Before Income Taxes | 1,476 | 3,573 | 7,472 | 13,047 |
Income Tax Expense | 314 | 967 | 2,005 | 4,238 |
Net Income | $1,162 | $2,606 | $5,467 | $8,809 |
Net income per common share: | ||||
Basic (in dollars per share) | $0.06 | $0.14 | $0.28 | $0.46 |
Diluted (in dollars per share) | $0.06 | $0.14 | $0.28 | $0.46 |
Average shares outstanding: | ||||
Basic (in shares) | 19,113,387 | 18,302,672 | 19,146,025 | 18,724,242 |
Diluted (in shares) | 19,192,702 | 18,378,159 | 19,232,791 | 18,815,416 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Mar. 31, 2015 | Mar. 31, 2014 |
Statement of Comprehensive Income [Abstract] | ||||
Net Income | $1,162 | $2,606 | $5,467 | $8,809 |
Other Comprehensive Income (Loss) | ||||
Gains (losses) arising during the period | 1,216 | 434 | 2,336 | -47 |
Deferred income tax (expense) benefit | -413 | -148 | -794 | 16 |
Reclassification of securities gains recognized in net income | 0 | 10 | 57 | 0 |
Deferred income tax expense | 0 | -3 | -20 | 0 |
Total other comprehensive income (loss) | 803 | 293 | 1,579 | -31 |
Comprehensive Income | $1,965 | $2,899 | $7,046 | $8,778 |
Consolidated_Statements_of_Cha
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) |
In Thousands, unless otherwise specified | ||||||
Balance at beginning of period at Jun. 30, 2013 | $367,515 | $208 | $227,397 | $149,990 | ($10,051) | ($29) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income | 8,809 | 8,809 | ||||
Stock repurchased | -20,495 | -12 | -20,483 | |||
Stock option expense | 971 | 971 | ||||
Adjustments to Additional Paid in Capital, Share-based Compensation, Restricted Stock Unit or Restricted Stock Award, Requisite Service Period Recognition | 1,027 | 1,027 | ||||
ESOP shares allocated | 640 | 243 | 397 | |||
Other comprehensive income (loss) | -31 | -31 | ||||
Balance at end of period at Mar. 31, 2014 | 358,436 | 196 | 209,155 | 158,799 | -9,654 | -60 |
Balance at beginning of period at Jun. 30, 2014 | 377,151 | 207 | 225,889 | 160,332 | -9,522 | 245 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income | 5,467 | 5,467 | ||||
Stock repurchased | -5,226 | -4 | -5,222 | |||
Exercised stock options | 259 | 259 | ||||
Stock option expense | 1,010 | 1,010 | ||||
Adjustments to Additional Paid in Capital, Share-based Compensation, Restricted Stock Unit or Restricted Stock Award, Requisite Service Period Recognition | 1,078 | 1,078 | ||||
ESOP shares allocated | 617 | 220 | 397 | |||
Other comprehensive income (loss) | 1,579 | 1,579 | ||||
Balance at end of period at Mar. 31, 2015 | $381,935 | $203 | $223,234 | $165,799 | ($9,125) | $1,824 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Operating Activities: | ||
Net income | $5,467 | $8,809 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Recovery of loan losses | -250 | -4,800 |
Depreciation | 2,707 | 1,675 |
Deferred income tax expense | 1,841 | 4,226 |
Net amortization and accretion | -3,189 | -701 |
Loss (gain) on sale and impairment of REO | -268 | 673 |
Gain on sale of loans held for sale | -1,232 | -1,276 |
Origination of loans held for sale | -47,381 | -55,788 |
Proceeds from sales of loans held for sale | 48,925 | 69,898 |
Gain on sale of securities available for sale | -61 | -10 |
Decrease in deferred loan fees, net | -915 | -260 |
Increase in accrued interest receivable and other assets | -2,754 | -1,699 |
Amortization of core deposit intangibles | 1,740 | 95 |
ESOP compensation expense | 617 | 640 |
Restricted stock and stock option expense | 2,088 | 1,998 |
Decrease in other liabilities | -6,800 | -2,474 |
Net cash provided by operating activities | 535 | 21,006 |
Investing Activities: | ||
Purchase of securities available for sale | -87,955 | -67,271 |
Proceeds from maturities of securities available for sale | 21,885 | 27,225 |
Proceeds from sale of securities available for sale | 10,387 | 2,086 |
Purchase of certificates of deposit in other banks | -80,591 | -37,266 |
Maturities of certificates of deposit in other banks | 39,775 | 14,184 |
Principal repayments of mortgage-backed securities | 20,017 | 7,015 |
Net redemptions (purchases) of other investments | -14,654 | 764 |
Net decrease (increase) in loans | -54,796 | 36,559 |
Purchase of premises and equipment | -5,111 | -1,174 |
Capital improvements to REO | -93 | -126 |
Proceeds from sale of REO | 8,564 | 8,214 |
Acquisition of BankGreenville Financial Corporation, net of cash paid | 0 | 1,475 |
Acquisition of Bank of Commerce, net of cash received | -7,759 | 0 |
Acquisition of Bank of America branches, net of cash paid | 310,868 | 0 |
Net cash provided by (used in) investing activities | 160,537 | -8,315 |
Financing Activities: | ||
Net decrease in deposits | -92,090 | -31,954 |
Net increase (decrease) in other borrowings | 184,828 | -2,527 |
Common stock repurchased | -5,226 | -20,495 |
Exercised stock options | 259 | 0 |
Decrease in capital lease obligations | -14 | -13 |
Net cash provided by (used in) financing activities | 87,757 | -54,989 |
Net Increase (Decrease) in Cash and Cash Equivalents | 248,829 | -42,298 |
Cash and Cash Equivalents at Beginning of Period | 45,830 | 125,713 |
Cash and Cash Equivalents at End of Period | 294,659 | 83,415 |
Cash paid during the period for: | ||
Interest | 3,589 | 4,047 |
Income taxes | 222 | 113 |
Noncash transactions: | ||
Unrealized gain (loss) in value of securities available for sale, net of income taxes | 1,579 | -31 |
Transfers of loans to REO | 2,171 | 4,166 |
Transfers of loans to held for sale | 0 | 4,340 |
Loans originated to finance the sale of REO | 460 | 94 |
Business Combinations: | ||
Assets acquired | 464,179 | 103,905 |
Liabilities assumed | 444,374 | 94,352 |
Net assets acquired | $19,805 | $9,553 |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 9 Months Ended |
Mar. 31, 2015 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | 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 and nine months ended March 31, 2015 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. |
Recent_Accounting_Pronouncemen
Recent Accounting Pronouncements | 9 Months Ended |
Mar. 31, 2015 | |
Accounting Changes and Error Corrections [Abstract] | |
Recent Accounting Pronouncements | Recent Accounting Pronouncements |
In January 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("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 the Company, for interim and annual reporting periods beginning after June 30, 2015. 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 ASU 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 the Company, for annual periods, and interim periods within those annual periods, beginning after June 30, 2015. The adoption of ASU No. 2014-14 is not expected to have a material impact on the Company's Consolidated Financial Statements. | |
In January 2015, the FASB issued ASU No. 2015-01, "Income Statement-Extraordinary and Unusual Items (Subtopic 225-20)". The ASU eliminates the need to separately classify, present, and disclose extraordinary events. The disclosure of events or transactions that are unusual or infrequent in nature will be included in other guidance. The amendments in this ASU are effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2015. The adoption of ASU No. 2015-1 is not expected to have a material impact on the Company's consolidated financial statements. |
Business_Combinations
Business Combinations | 9 Months Ended | |||||||||||
Mar. 31, 2015 | ||||||||||||
Business Combinations [Abstract] | ||||||||||||
Business Combinations | Business Combinations | |||||||||||
On November 14, 2014, the Bank completed its acquisition of ten branch banking operations in Southwest Virginia and Eden, North Carolina from Bank of America Corporation (the "Branch Acquisition"). Under the terms of the agreement, the Bank paid a deposit premium of $9,805 equal to 2.86% of the average daily deposits for the 30 calendar day period prior to the acquisition date. In addition, the Bank acquired approximately $1,045 in loans and all related premises and equipment valued at $8,993. | ||||||||||||
The Branch Acquisition was accounted for as a business combination 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 following table presents the consideration paid by the Bank in the acquisition of these Bank of America branches and the assets acquired and liabilities assumed as of November 14, 2014: | ||||||||||||
As Recorded | Fair Value and | As | ||||||||||
By Bank of | Other Merger | Recorded | ||||||||||
America | Related | by the | ||||||||||
Adjustments | Company | |||||||||||
Consideration Paid | ||||||||||||
Cash paid as deposit premium | $ | 9,805 | ||||||||||
Total consideration | $ | 9,805 | ||||||||||
Assets | ||||||||||||
Cash and cash equivalents | $ | 320,673 | $ | — | $ | 320,673 | ||||||
Loans, net of allowance | 1,045 | — | 1,045 | |||||||||
Premises and equipment, net | 6,303 | 2,690 | 8,993 | |||||||||
Accrued interest receivable | 3 | — | 3 | |||||||||
Deferred income taxes | — | 353 | 353 | |||||||||
Core deposit intangibles | — | 8,156 | 8,156 | |||||||||
Total assets acquired | $ | 328,024 | $ | 11,199 | $ | 339,223 | ||||||
Liabilities | ||||||||||||
Deposits | $ | 328,007 | $ | 1,394 | $ | 329,401 | ||||||
Other liabilities | 17 | — | 17 | |||||||||
Total liabilities assumed | $ | 328,024 | $ | 1,394 | $ | 329,418 | ||||||
Net identifiable assets acquired over liabilities assumed | $ | — | $ | 9,805 | $ | 9,805 | ||||||
Goodwill | $ | — | ||||||||||
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 $10,000 of aggregate deal consideration. In addition, all $3,200 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 $122,530 and liabilities assumed was $114,672. The Company recorded $3,953 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: | ||||||||||||
As Recorded | Fair Value and | As | ||||||||||
By Bank of | Other Merger | Recorded | ||||||||||
Commerce | Related | by the | ||||||||||
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 | PCI | Total | ||||||||||
Performing | 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 $50,490 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 $494,261 and liabilities assumed was $441,858. The Company recorded $7,013 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 loans as detailed in the following table: | ||||||||||||
Purchased | PCI | Total | ||||||||||
Performing | 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 $7,823 of aggregate deal consideration. Additional contingent cash consideration of up to $0.75 per share (or approximately $883) may be realized at the expiration of 24 months based on the performance of a select pool of loans totaling approximately $8,000. | ||||||||||||
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 $102,180 and liabilities assumed was $94,117. The Company recorded $2,802 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: | ||||||||||||
As Recorded | Fair Value and | As | ||||||||||
by | Other Merger | Recorded | ||||||||||
BankGreenville | Related | by the | ||||||||||
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 $8,000. | |||||||||||
The carrying amount of acquired loans from BankGreenville as of July 31, 2013 consisted of purchased performing loans and PCI loans as detailed in the following table: | ||||||||||||
Purchased | PCI | Total | ||||||||||
Performing | 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 March 31, 2015 and the Branch Acquisition since the effective date of November 14, 2014 through March 31, 2015. In addition, the table presents certain pro forma information as if the Branch Acquisition, 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 Nine Months Ended March 31, 2015 | Pro Forma Nine Months Ended March 31, 2015 | Pro Forma Nine Months Ended March 31, 2014 | ||||||||||
Total revenues* | $ | 67,879 | $ | 72,183 | $ | 71,341 | ||||||
Net income | 5,467 | 8,194 | 12,542 | |||||||||
* Net interest income plus other income |
Securities_Available_For_Sale
Securities Available For Sale | 9 Months Ended | |||||||||||||||||||||||
Mar. 31, 2015 | ||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ||||||||||||||||||||||||
Securities Available For Sale | Securities Available for Sale | |||||||||||||||||||||||
Securities available for sale consist of the following at the dates indicated: | ||||||||||||||||||||||||
March 31, 2015 | ||||||||||||||||||||||||
Amortized | Gross | Gross | Estimated | |||||||||||||||||||||
Cost | Unrealized | Unrealized | Fair | |||||||||||||||||||||
Gains | Losses | Value | ||||||||||||||||||||||
U.S. Government Agencies | $ | 87,263 | $ | 854 | $ | — | $ | 88,117 | ||||||||||||||||
Residential Mortgage-backed Securities of U.S. Government | ||||||||||||||||||||||||
Agencies and Government-Sponsored Enterprises | 120,101 | 1,313 | (130 | ) | 121,284 | |||||||||||||||||||
Municipal Bonds | 16,426 | 608 | (32 | ) | 17,002 | |||||||||||||||||||
Corporate Bonds | 3,895 | 151 | — | 4,046 | ||||||||||||||||||||
Equity Securities | 63 | — | — | 63 | ||||||||||||||||||||
Total | $ | 227,748 | $ | 2,926 | $ | (162 | ) | $ | 230,512 | |||||||||||||||
June 30, 2014 | ||||||||||||||||||||||||
Amortized | Gross | Gross | Estimated | |||||||||||||||||||||
Cost | Unrealized | Unrealized | Fair | |||||||||||||||||||||
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. | ||||||||||||||||||||||||
March 31, 2015 | ||||||||||||||||||||||||
Amortized | Estimated | |||||||||||||||||||||||
Cost | Fair Value | |||||||||||||||||||||||
Due within one year | $ | 1,001 | $ | 1,001 | ||||||||||||||||||||
Due after one year through five years | 69,225 | 69,502 | ||||||||||||||||||||||
Due after five years through ten years | 33,579 | 34,706 | ||||||||||||||||||||||
Due after ten years | 3,779 | 3,956 | ||||||||||||||||||||||
Mortgage-backed securities | 120,101 | 121,284 | ||||||||||||||||||||||
Total | $ | 227,685 | $ | 230,449 | ||||||||||||||||||||
The Company did not sell any securities available for sale in the three months ended March 31, 2015. Proceeds from sales of securities available for sale were $10,387 in the nine months ended March 31, 2015. Gross realized gains were $74 and gross realized losses were $13 for the nine months ended March 31, 2015. Proceeds from sales of securities available for sale were $2,086 in the three and nine months ended March 31, 2014. Gross realized gains were $42 and gross realized losses were $32 for the three and nine months ended March 31, 2014. | ||||||||||||||||||||||||
Securities available for sale with costs totaling $153,590 and $51,036 with market values of $155,285 and $51,297 at March 31, 2015 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 March 31, 2015 and June 30, 2014 were as follows: | ||||||||||||||||||||||||
March 31, 2015 | ||||||||||||||||||||||||
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 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||
Residential Mortgage-backed | ||||||||||||||||||||||||
Securities of U.S. Government | ||||||||||||||||||||||||
Agencies and Government- | ||||||||||||||||||||||||
Sponsored Enterprises | 12,404 | (43 | ) | 5,263 | (87 | ) | 17,667 | (130 | ) | |||||||||||||||
Municipal Bonds | 2,594 | (32 | ) | — | — | 2,594 | (32 | ) | ||||||||||||||||
Total | $ | 14,998 | $ | (75 | ) | $ | 5,263 | $ | (87 | ) | $ | 20,261 | $ | (162 | ) | |||||||||
June 30, 2014 | ||||||||||||||||||||||||
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 March 31, 2015, and June 30, 2014 were 48 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 and nine months ended March 31, 2015 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 of Richmond ("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. |
Loans
Loans | 9 Months Ended | |||||||||||||||||||||||||||||||
Mar. 31, 2015 | ||||||||||||||||||||||||||||||||
Receivables [Abstract] | ||||||||||||||||||||||||||||||||
Loans | Loans | |||||||||||||||||||||||||||||||
Loans consist of the following at the dates indicated: | ||||||||||||||||||||||||||||||||
31-Mar-15 | 30-Jun-14 | |||||||||||||||||||||||||||||||
Retail consumer loans: | ||||||||||||||||||||||||||||||||
One-to-four family | $ | 651,588 | $ | 660,200 | ||||||||||||||||||||||||||||
Home equity lines of credit | 198,717 | 148,379 | ||||||||||||||||||||||||||||||
Construction and land/lots | 48,248 | 59,249 | ||||||||||||||||||||||||||||||
Indirect auto finance | 32,230 | 8,833 | ||||||||||||||||||||||||||||||
Consumer | 4,135 | 6,331 | ||||||||||||||||||||||||||||||
Total retail consumer loans | 934,918 | 882,992 | ||||||||||||||||||||||||||||||
Commercial loans: | ||||||||||||||||||||||||||||||||
Commercial real estate | 452,431 | 377,769 | ||||||||||||||||||||||||||||||
Construction and development | 58,989 | 56,457 | ||||||||||||||||||||||||||||||
Commercial and industrial | 88,451 | 74,435 | ||||||||||||||||||||||||||||||
Municipal leases | 106,693 | 106,215 | ||||||||||||||||||||||||||||||
Total commercial loans | 706,564 | 614,876 | ||||||||||||||||||||||||||||||
Total loans | 1,641,482 | 1,497,868 | ||||||||||||||||||||||||||||||
Deferred loan fees, net | (425 | ) | (1,340 | ) | ||||||||||||||||||||||||||||
Total loans, net of deferred loan fees and discount | 1,641,057 | 1,496,528 | ||||||||||||||||||||||||||||||
Allowance for loan and lease losses | (22,681 | ) | (23,429 | ) | ||||||||||||||||||||||||||||
Loans, net | $ | 1,618,376 | $ | 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: | ||||||||||||||||||||||||||||||||
Pass | Special | Substandard | Doubtful | Loss | Total | |||||||||||||||||||||||||||
Mention | ||||||||||||||||||||||||||||||||
March 31, 2015 | ||||||||||||||||||||||||||||||||
Retail consumer loans: | ||||||||||||||||||||||||||||||||
One-to-four family | $ | 593,246 | $ | 13,794 | $ | 31,940 | $ | 3,111 | $ | 4 | $ | 642,095 | ||||||||||||||||||||
Home equity lines of credit | 192,665 | 635 | 4,542 | 407 | 100 | 198,349 | ||||||||||||||||||||||||||
Construction and land/lots | 44,642 | 517 | 2,060 | 163 | — | 47,382 | ||||||||||||||||||||||||||
Indirect auto finance | 32,185 | 45 | — | — | — | 32,230 | ||||||||||||||||||||||||||
Consumer | 3,927 | 78 | 97 | 9 | 11 | 4,122 | ||||||||||||||||||||||||||
Commercial loans: | ||||||||||||||||||||||||||||||||
Commercial real estate | 379,567 | 14,363 | 18,261 | 311 | — | 412,502 | ||||||||||||||||||||||||||
Construction and development | 45,076 | 2,047 | 5,928 | — | — | 53,051 | ||||||||||||||||||||||||||
Commercial and industrial | 79,329 | 565 | 2,217 | — | 1 | 82,112 | ||||||||||||||||||||||||||
Municipal leases | 104,355 | 1,757 | 581 | — | — | 106,693 | ||||||||||||||||||||||||||
Total loans | $ | 1,474,992 | $ | 33,801 | $ | 65,626 | $ | 4,001 | $ | 116 | $ | 1,578,536 | ||||||||||||||||||||
Pass | Special | Substandard | Doubtful | Loss | Total | |||||||||||||||||||||||||||
Mention | ||||||||||||||||||||||||||||||||
June 30, 2014 | ||||||||||||||||||||||||||||||||
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: | ||||||||||||||||||||||||||||||||
Pass | Special | Substandard | Doubtful | Loss | Total | |||||||||||||||||||||||||||
Mention | ||||||||||||||||||||||||||||||||
March 31, 2015 | ||||||||||||||||||||||||||||||||
Retail consumer loans: | ||||||||||||||||||||||||||||||||
One-to-four family | $ | 5,643 | $ | 1,222 | $ | 2,571 | $ | 57 | $ | — | $ | 9,493 | ||||||||||||||||||||
Home equity lines of credit | 260 | — | 108 | — | — | 368 | ||||||||||||||||||||||||||
Construction and land/lots | 599 | — | 267 | — | — | 866 | ||||||||||||||||||||||||||
Indirect auto finance | — | — | — | — | — | — | ||||||||||||||||||||||||||
Consumer | 13 | — | — | — | — | 13 | ||||||||||||||||||||||||||
Commercial loans: | ||||||||||||||||||||||||||||||||
Commercial real estate | 28,725 | 5,166 | 6,038 | — | — | 39,929 | ||||||||||||||||||||||||||
Construction and development | 2,433 | 156 | 3,349 | — | — | 5,938 | ||||||||||||||||||||||||||
Commercial and industrial | 4,891 | 677 | 771 | — | — | 6,339 | ||||||||||||||||||||||||||
Municipal leases | — | — | — | — | — | — | ||||||||||||||||||||||||||
Total loans | $ | 42,564 | $ | 7,221 | $ | 13,104 | $ | 57 | $ | — | $ | 62,946 | ||||||||||||||||||||
Pass | Special | Substandard | Doubtful | Loss | Total | |||||||||||||||||||||||||||
Mention | ||||||||||||||||||||||||||||||||
June 30, 2014 | ||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||
March 31, 2015 | ||||||||||||||||||||||||||||||||
Retail consumer loans: | ||||||||||||||||||||||||||||||||
One-to-four family | $ | 6,861 | $ | 7,289 | $ | 14,150 | $ | 637,438 | $ | 651,588 | ||||||||||||||||||||||
Home equity lines of credit | 931 | 490 | 1,421 | 197,296 | 198,717 | |||||||||||||||||||||||||||
Construction and land/lots | 48 | 639 | 687 | 47,561 | 48,248 | |||||||||||||||||||||||||||
Indirect auto finance | — | — | — | 32,230 | 32,230 | |||||||||||||||||||||||||||
Consumer | 8 | 5 | 13 | 4,122 | 4,135 | |||||||||||||||||||||||||||
Commercial loans: | ||||||||||||||||||||||||||||||||
Commercial real estate | 2,466 | 6,431 | 8,897 | 443,534 | 452,431 | |||||||||||||||||||||||||||
Construction and development | 1,597 | 4,213 | 5,810 | 53,179 | 58,989 | |||||||||||||||||||||||||||
Commercial and industrial | 1,102 | 1,185 | 2,287 | 86,164 | 88,451 | |||||||||||||||||||||||||||
Municipal leases | 1,037 | — | 1,037 | 105,656 | 106,693 | |||||||||||||||||||||||||||
Total loans | $ | 14,050 | $ | 20,252 | $ | 34,302 | $ | 1,607,180 | $ | 1,641,482 | ||||||||||||||||||||||
The table above includes PCI loans of $2,912 30-89 days past due and $6,372 90 days or more past due as of March 31, 2015. | ||||||||||||||||||||||||||||||||
Past Due | Total | |||||||||||||||||||||||||||||||
30-89 Days | 90 Days+ | Total | Current | Loans | ||||||||||||||||||||||||||||
June 30, 2014 | ||||||||||||||||||||||||||||||||
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: | ||||||||||||||||||||||||||||||||
March 31, 2015 | June 30, 2014 | |||||||||||||||||||||||||||||||
Nonaccruing | 90 Days + & | Nonaccruing | 90 Days + & | |||||||||||||||||||||||||||||
still accruing | still accruing | |||||||||||||||||||||||||||||||
Retail consumer loans: | ||||||||||||||||||||||||||||||||
One-to-four family | $ | 13,189 | $ | — | $ | 14,917 | $ | — | ||||||||||||||||||||||||
Home equity lines of credit | 2,204 | — | 2,749 | — | ||||||||||||||||||||||||||||
Construction and land/lots | 633 | — | 443 | — | ||||||||||||||||||||||||||||
Indirect auto finance | — | — | — | — | ||||||||||||||||||||||||||||
Consumer | 21 | — | 27 | — | ||||||||||||||||||||||||||||
Commercial loans: | ||||||||||||||||||||||||||||||||
Commercial real estate | 9,581 | — | 12,953 | — | ||||||||||||||||||||||||||||
Construction and development | 4,046 | — | 5,697 | — | ||||||||||||||||||||||||||||
Commercial and industrial | 903 | — | 1,134 | — | ||||||||||||||||||||||||||||
Municipal leases | 316 | — | — | — | ||||||||||||||||||||||||||||
Total loans | $ | 30,893 | $ | — | $ | 37,920 | $ | — | ||||||||||||||||||||||||
PCI loans totaling $10,354 at March 31, 2015 and $9,220 at June 30, 2014 are excluded from nonaccruing loans due to the accretion of discounts established in accordance with the acquisition method of accounting for business combinations. | ||||||||||||||||||||||||||||||||
Troubled debt restructurings ("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: | ||||||||||||||||||||||||||||||||
31-Mar-15 | 30-Jun-14 | |||||||||||||||||||||||||||||||
Performing TDRs included in impaired loans | $ | 21,189 | $ | 22,179 | ||||||||||||||||||||||||||||
An analysis of the allowance for loan losses by segment for the periods shown was as follows: | ||||||||||||||||||||||||||||||||
Three Months Ended March 31, 2015 | Three Months Ended March 31, 2014 | |||||||||||||||||||||||||||||||
Retail | Commercial | Total | Retail | Commercial | Total | |||||||||||||||||||||||||||
Consumer | Consumer | |||||||||||||||||||||||||||||||
Balance at beginning of period | $ | 14,603 | $ | 8,753 | $ | 23,356 | $ | 18,217 | $ | 8,908 | $ | 27,125 | ||||||||||||||||||||
Provision for (recovery of) loan losses | 184 | (184 | ) | — | (611 | ) | (1,189 | ) | (1,800 | ) | ||||||||||||||||||||||
Charge-offs | (1,313 | ) | (354 | ) | (1,667 | ) | (402 | ) | (253 | ) | (655 | ) | ||||||||||||||||||||
Recoveries | 101 | 891 | 992 | 113 | 486 | 599 | ||||||||||||||||||||||||||
Balance at end of period | $ | 13,575 | $ | 9,106 | $ | 22,681 | $ | 17,317 | $ | 7,952 | $ | 25,269 | ||||||||||||||||||||
Nine Months Ended March 31, 2015 | Nine Months Ended March 31, 2014 | |||||||||||||||||||||||||||||||
Retail | Commercial | Total | Retail | Commercial | Total | |||||||||||||||||||||||||||
Consumer | Consumer | |||||||||||||||||||||||||||||||
Balance at beginning of period | $ | 15,731 | $ | 7,698 | $ | 23,429 | $ | 21,952 | $ | 10,121 | $ | 32,073 | ||||||||||||||||||||
Provision for (recovery of) loan losses | (745 | ) | 495 | (250 | ) | (1,887 | ) | (2,913 | ) | (4,800 | ) | |||||||||||||||||||||
Charge-offs | (2,369 | ) | (682 | ) | (3,051 | ) | (3,768 | ) | (550 | ) | (4,318 | ) | ||||||||||||||||||||
Recoveries | 958 | 1,595 | 2,553 | 1,020 | 1,294 | 2,314 | ||||||||||||||||||||||||||
Balance at end of period | $ | 13,575 | $ | 9,106 | $ | 22,681 | $ | 17,317 | $ | 7,952 | $ | 25,269 | ||||||||||||||||||||
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 | |||||||||||||||||||||||||||||||
PCI | Loans | Loans | Total | PCI | Loans | Loans | Total | |||||||||||||||||||||||||
individually | Collectively | individually | Collectively | |||||||||||||||||||||||||||||
evaluated for | Evaluated | evaluated for | Evaluated | |||||||||||||||||||||||||||||
impairment | impairment | |||||||||||||||||||||||||||||||
March 31, 2015 | ||||||||||||||||||||||||||||||||
Retail consumer loans: | ||||||||||||||||||||||||||||||||
One-to-four family | $ | — | $ | 480 | $ | 8,042 | $ | 8,522 | $ | 9,493 | $ | 24,438 | $ | 617,657 | $ | 651,588 | ||||||||||||||||
Home equity | — | 407 | 1,897 | 2,304 | 368 | 2,724 | 195,625 | 198,717 | ||||||||||||||||||||||||
Construction and land/lots | — | 573 | 1,636 | 2,209 | 866 | 2,129 | 45,253 | 48,248 | ||||||||||||||||||||||||
Indirect auto finance | — | — | 438 | 438 | — | — | 32,230 | 32,230 | ||||||||||||||||||||||||
Consumer | — | 11 | 91 | 102 | 13 | 17 | 4,105 | 4,135 | ||||||||||||||||||||||||
Commercial loans: | ||||||||||||||||||||||||||||||||
Commercial real estate | — | 60 | 5,736 | 5,796 | 39,929 | 15,650 | 396,852 | 452,431 | ||||||||||||||||||||||||
Construction and development | — | 412 | 1,475 | 1,887 | 5,938 | 6,022 | 47,029 | 58,989 | ||||||||||||||||||||||||
Commercial and industrial | — | 1 | 751 | 752 | 6,339 | 2,173 | 79,939 | 88,451 | ||||||||||||||||||||||||
Municipal leases | — | — | 671 | 671 | — | 316 | 106,377 | 106,693 | ||||||||||||||||||||||||
Total | $ | — | $ | 1,944 | $ | 20,737 | $ | 22,681 | $ | 62,946 | $ | 53,469 | $ | 1,525,067 | $ | 1,641,482 | ||||||||||||||||
June 30, 2014 | ||||||||||||||||||||||||||||||||
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 | ||||||||||||||||
In December 2014, the Company purchased $40,914 of home equity lines of credit from a third party. The credit risk characteristics are different for these loans since they were not originated by the Company and the collateral is located outside the Company's market area, primarily in several western states. These loans were originated in 2014, have an average FICO score of 757 and loan to values of less than 90%. The Company established an allowance for loan losses based on the historical losses in the states where these loans were originated. The Company will monitor the performance of these loans and adjust the allowance for loan losses as necessary. | ||||||||||||||||||||||||||||||||
Loans acquired from BankGreenville, Jefferson, and Bank of Commerce were initially excluded from the allowance for loan losses in accordance with the acquisition method of accounting for business combinations. The Company recorded these loans at fair value, which includes a credit discount, therefore, no allowance for loan losses was established for these acquired loans at acquisition. A provision for loan losses is recorded for any further deterioration in these acquired loans subsequent to the acquisition. | ||||||||||||||||||||||||||||||||
The Company's impaired loans and the related allowance, by segment and class, at the dates indicated follows: | ||||||||||||||||||||||||||||||||
Total Impaired Loans | ||||||||||||||||||||||||||||||||
Unpaid | Recorded | Recorded | Total | Related | ||||||||||||||||||||||||||||
Principal | Investment | Investment | Recorded | |||||||||||||||||||||||||||||
Balance | With a | With No | Allowance | |||||||||||||||||||||||||||||
Recorded | Recorded | |||||||||||||||||||||||||||||||
Allowance | Allowance | |||||||||||||||||||||||||||||||
March 31, 2015 | ||||||||||||||||||||||||||||||||
Retail consumer loans: | ||||||||||||||||||||||||||||||||
One-to-four family | $ | 35,707 | $ | 12,373 | $ | 19,036 | $ | 31,409 | $ | 578 | ||||||||||||||||||||||
Home equity lines of credit | 6,391 | 3,110 | 1,380 | 4,490 | 429 | |||||||||||||||||||||||||||
Construction and land/lots | 3,670 | 1,466 | 816 | 2,282 | 579 | |||||||||||||||||||||||||||
Indirect auto finance | 31 | — | — | — | — | |||||||||||||||||||||||||||
Consumer | 1,617 | 10 | 19 | 29 | 11 | |||||||||||||||||||||||||||
Commercial loans: | ||||||||||||||||||||||||||||||||
Commercial real estate | 22,047 | 2,651 | 14,626 | 17,277 | 88 | |||||||||||||||||||||||||||
Construction and development | 8,631 | 3,344 | 3,476 | 6,820 | 436 | |||||||||||||||||||||||||||
Commercial and industrial | 3,439 | 171 | 2,202 | 2,373 | 3 | |||||||||||||||||||||||||||
Municipal leases | 316 | — | 316 | 316 | — | |||||||||||||||||||||||||||
Total impaired loans | $ | 81,849 | $ | 23,125 | $ | 41,871 | $ | 64,996 | $ | 2,124 | ||||||||||||||||||||||
June 30, 2014 | ||||||||||||||||||||||||||||||||
Retail consumer loans: | ||||||||||||||||||||||||||||||||
One-to-four family | $ | 34,243 | $ | 12,946 | $ | 18,047 | $ | 30,993 | $ | 618 | ||||||||||||||||||||||
Home equity lines of credit | 6,161 | 2,110 | 2,299 | 4,409 | 160 | |||||||||||||||||||||||||||
Construction and land/lots | 3,287 | 1,053 | 793 | 1,846 | 383 | |||||||||||||||||||||||||||
Indirect auto finance | — | — | — | — | — | |||||||||||||||||||||||||||
Consumer | 364 | 16 | 11 | 27 | 3 | |||||||||||||||||||||||||||
Commercial loans: | ||||||||||||||||||||||||||||||||
Commercial real estate | 18,558 | 1,714 | 13,082 | 14,796 | 59 | |||||||||||||||||||||||||||
Construction and development | 9,091 | 928 | 4,930 | 5,858 | 48 | |||||||||||||||||||||||||||
Commercial and industrial | 2,987 | 313 | 2,030 | 2,343 | 7 | |||||||||||||||||||||||||||
Municipal leases | — | — | — | — | — | |||||||||||||||||||||||||||
Total impaired loans | $ | 74,691 | $ | 19,080 | $ | 41,192 | $ | 60,272 | $ | 1,278 | ||||||||||||||||||||||
Impaired loans above excludes $10,354 at March 31, 2015 and $9,220 at June 30, 2014 in PCI loans due to the accretion of discounts established in accordance with the acquisition method of accounting for business combinations. | ||||||||||||||||||||||||||||||||
The table above includes $11,527 and $12,406, of impaired loans that were not individually evaluated at March 31, 2015 and June 30, 2014, respectively, because these loans did not meet the Company's threshold for individual impairment evaluation. The recorded allowance above includes $180 and $427 related to these loans that were not individually evaluated at March 31, 2015 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 and nine months ended March 31, 2015 and 2014 was as follows: | ||||||||||||||||||||||||||||||||
Three Months Ended | ||||||||||||||||||||||||||||||||
March 31, 2015 | March 31, 2014 | |||||||||||||||||||||||||||||||
Average | Interest | Average | Interest | |||||||||||||||||||||||||||||
Recorded | Income | Recorded | Income | |||||||||||||||||||||||||||||
Investment | Recognized | Investment | Recognized | |||||||||||||||||||||||||||||
Retail consumer loans: | ||||||||||||||||||||||||||||||||
One-to-four family | $ | 30,155 | $ | 395 | $ | 37,320 | $ | 355 | ||||||||||||||||||||||||
Home equity lines of credit | 4,316 | 66 | 5,722 | 57 | ||||||||||||||||||||||||||||
Construction and land/lots | 2,152 | 38 | 2,101 | 46 | ||||||||||||||||||||||||||||
Indirect auto finance | — | — | — | — | ||||||||||||||||||||||||||||
Consumer | 55 | 5 | 32 | 3 | ||||||||||||||||||||||||||||
Commercial loans: | ||||||||||||||||||||||||||||||||
Commercial real estate | 15,551 | 147 | 22,930 | 140 | ||||||||||||||||||||||||||||
Construction and development | 6,019 | 55 | 6,789 | 45 | ||||||||||||||||||||||||||||
Commercial and industrial | 2,270 | 18 | 2,791 | 37 | ||||||||||||||||||||||||||||
Municipal leases | 447 | 12 | — | — | ||||||||||||||||||||||||||||
Total loans | $ | 60,965 | $ | 736 | $ | 77,685 | $ | 683 | ||||||||||||||||||||||||
Nine Months Ended | ||||||||||||||||||||||||||||||||
March 31, 2015 | March 31, 2014 | |||||||||||||||||||||||||||||||
Average | Interest | Average | Interest | |||||||||||||||||||||||||||||
Recorded | Income | Recorded | Income | |||||||||||||||||||||||||||||
Investment | Recognized | Investment | Recognized | |||||||||||||||||||||||||||||
Retail consumer loans: | ||||||||||||||||||||||||||||||||
One-to-four family | $ | 31,914 | $ | 1,283 | $ | 41,601 | $ | 1,247 | ||||||||||||||||||||||||
Home equity lines of credit | 4,730 | 195 | 5,855 | 213 | ||||||||||||||||||||||||||||
Construction and land/lots | 2,153 | 125 | 2,205 | 155 | ||||||||||||||||||||||||||||
Indirect auto finance | — | 1 | — | — | ||||||||||||||||||||||||||||
Consumer | 37 | 16 | 40 | 6 | ||||||||||||||||||||||||||||
Commercial loans: | ||||||||||||||||||||||||||||||||
Commercial real estate | 17,281 | 406 | 24,434 | 499 | ||||||||||||||||||||||||||||
Construction and development | 6,104 | 133 | 8,888 | 132 | ||||||||||||||||||||||||||||
Commercial and industrial | 2,622 | 74 | 2,775 | 131 | ||||||||||||||||||||||||||||
Municipal leases | 239 | 17 | — | — | ||||||||||||||||||||||||||||
Total loans | $ | 65,080 | $ | 2,250 | $ | 85,798 | $ | 2,383 | ||||||||||||||||||||||||
A summary of changes in the accretable yield for PCI loans for the three and nine months ended March 31, 2015 and 2014 was as follows: | ||||||||||||||||||||||||||||||||
Three Months Ended | ||||||||||||||||||||||||||||||||
31-Mar-15 | 31-Mar-14 | |||||||||||||||||||||||||||||||
Accretable yield, beginning of period | $ | 10,335 | $ | 1,610 | ||||||||||||||||||||||||||||
Interest income | (1,616 | ) | (155 | ) | ||||||||||||||||||||||||||||
Accretable yield, end of period | $ | 8,719 | $ | 1,455 | ||||||||||||||||||||||||||||
Nine Months Ended | ||||||||||||||||||||||||||||||||
31-Mar-15 | 31-Mar-14 | |||||||||||||||||||||||||||||||
Accretable yield, beginning of period | $ | 6,151 | $ | — | ||||||||||||||||||||||||||||
Addition from the BankGreenville acquisition | — | 1,835 | ||||||||||||||||||||||||||||||
Addition from the Bank of Commerce acquisition | 7,315 | — | ||||||||||||||||||||||||||||||
Interest income | (4,747 | ) | (380 | ) | ||||||||||||||||||||||||||||
Accretable yield, end of period | $ | 8,719 | $ | 1,455 | ||||||||||||||||||||||||||||
The following table presents the purchased performing loans receivable for Bank of Commerce at July 31, 2014 (the acquisition date): | ||||||||||||||||||||||||||||||||
July 31, | ||||||||||||||||||||||||||||||||
2014 | ||||||||||||||||||||||||||||||||
Contractually required principal payments receivable | $ | 47,112 | ||||||||||||||||||||||||||||||
Adjustment for credit, interest rate, and liquidity | 1,159 | |||||||||||||||||||||||||||||||
Balance of purchased loans receivable | $ | 45,953 | ||||||||||||||||||||||||||||||
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 and nine months ended March 31, 2015 and 2014, the following table presents a breakdown of the types of concessions made on TDRs by loan class: | ||||||||||||||||||||||||||||||||
Three Months Ended March 31, 2015 | Three Months Ended March 31, 2014 | |||||||||||||||||||||||||||||||
Number | Pre | Post | Number | Pre | Post | |||||||||||||||||||||||||||
of | Modification | Modification | of | Modification | Modification | |||||||||||||||||||||||||||
Loans | Outstanding | Outstanding | Loans | Outstanding | Outstanding | |||||||||||||||||||||||||||
Recorded | Recorded | Recorded | Recorded | |||||||||||||||||||||||||||||
Investment | Investment | Investment | Investment | |||||||||||||||||||||||||||||
Below market interest rate: | ||||||||||||||||||||||||||||||||
Retail consumer: | ||||||||||||||||||||||||||||||||
One-to-four family | 3 | $ | 388 | $ | 386 | — | $ | — | $ | — | ||||||||||||||||||||||
Total | 3 | $ | 388 | $ | 386 | — | $ | — | $ | — | ||||||||||||||||||||||
Extended term: | ||||||||||||||||||||||||||||||||
Retail consumer: | ||||||||||||||||||||||||||||||||
One-to-four family | — | $ | — | $ | — | 1 | $ | 42 | $ | 41 | ||||||||||||||||||||||
Total | — | $ | — | $ | — | 1 | $ | 42 | $ | 41 | ||||||||||||||||||||||
Other TDRs: | ||||||||||||||||||||||||||||||||
Retail consumer: | ||||||||||||||||||||||||||||||||
One-to-four family | 6 | $ | 3,091 | $ | 3,006 | 7 | $ | 777 | $ | 787 | ||||||||||||||||||||||
Home equity lines of credit | 2 | 41 | 9 | — | — | — | ||||||||||||||||||||||||||
Construction and land/lots | — | $ | — | $ | — | 1 | 652 | 642 | ||||||||||||||||||||||||
Total | 8 | $ | 3,132 | $ | 3,015 | 8 | $ | 1,429 | $ | 1,429 | ||||||||||||||||||||||
Total | 11 | $ | 3,520 | $ | 3,401 | 9 | $ | 1,471 | $ | 1,470 | ||||||||||||||||||||||
Nine Months Ended March 31, 2015 | Nine Months Ended March 31, 2014 | |||||||||||||||||||||||||||||||
Number | Pre | Post | Number | Pre | Post | |||||||||||||||||||||||||||
of | Modification | Modification | of | Modification Outstanding Recorded | Modification | |||||||||||||||||||||||||||
Loans | Outstanding | Outstanding | Loans | Investment | Outstanding | |||||||||||||||||||||||||||
Recorded | Recorded | Recorded | ||||||||||||||||||||||||||||||
Investment | Investment | Investment | ||||||||||||||||||||||||||||||
Below market interest rate: | ||||||||||||||||||||||||||||||||
Retail consumer: | ||||||||||||||||||||||||||||||||
One-to-four family | 4 | $ | 449 | $ | 473 | 3 | $ | 146 | $ | 142 | ||||||||||||||||||||||
Home equity lines of credit | — | — | — | 2 | 347 | 343 | ||||||||||||||||||||||||||
Construction and land/lots | 1 | 110 | 103 | — | — | — | ||||||||||||||||||||||||||
Total | 5 | $ | 559 | $ | 576 | 5 | $ | 493 | $ | 485 | ||||||||||||||||||||||
Extended term: | ||||||||||||||||||||||||||||||||
Retail consumer: | ||||||||||||||||||||||||||||||||
One-to-four family | — | $ | — | $ | — | 2 | $ | 44 | $ | 41 | ||||||||||||||||||||||
Home equity lines of credit | 3 | 91 | 87 | — | — | — | ||||||||||||||||||||||||||
Consumer | 2 | 10 | 9 | — | — | — | ||||||||||||||||||||||||||
Commercial: | ||||||||||||||||||||||||||||||||
Commercial real estate | 2 | $ | 426 | 471 | — | $ | — | $ | — | |||||||||||||||||||||||
Total | 7 | $ | 527 | $ | 567 | 2 | $ | 44 | $ | 41 | ||||||||||||||||||||||
Other TDRs: | ||||||||||||||||||||||||||||||||
Retail consumer: | ||||||||||||||||||||||||||||||||
One-to-four family | 16 | $ | 3,684 | $ | 3,568 | 13 | $ | 1,169 | $ | 1,178 | ||||||||||||||||||||||
Home equity lines of credit | 4 | 155 | 121 | 2 | 42 | 4 | ||||||||||||||||||||||||||
Construction and land/lots | 1 | 106 | 103 | 2 | 787 | 773 | ||||||||||||||||||||||||||
Commercial: | ||||||||||||||||||||||||||||||||
Construction and land development | 2 | 173 | 172 | — | — | — | ||||||||||||||||||||||||||
Total | 23 | $ | 4,118 | $ | 3,964 | 17 | $ | 1,998 | $ | 1,955 | ||||||||||||||||||||||
Total | 35 | $ | 5,204 | $ | 5,107 | 24 | $ | 2,535 | $ | 2,481 | ||||||||||||||||||||||
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 and nine months ended March 31, 2015 and 2014: | ||||||||||||||||||||||||||||||||
Three Months Ended March 31, 2015 | Three Months Ended March 31, 2014 | |||||||||||||||||||||||||||||||
Number of | Recorded | Number of | Recorded | |||||||||||||||||||||||||||||
Loans | Investment | Loans | Investment | |||||||||||||||||||||||||||||
Below market interest rate: | ||||||||||||||||||||||||||||||||
Retail consumer: | ||||||||||||||||||||||||||||||||
One-to-four family | 2 | $ | 380 | — | $ | — | ||||||||||||||||||||||||||
Total | 2 | $ | 380 | — | $ | — | ||||||||||||||||||||||||||
Extended payment terms: | — | $ | — | — | $ | — | ||||||||||||||||||||||||||
Total | — | $ | — | — | $ | — | ||||||||||||||||||||||||||
Other TDRs: | ||||||||||||||||||||||||||||||||
Retail consumer: | ||||||||||||||||||||||||||||||||
One-to-four family | 2 | $ | 716 | 2 | $ | 166 | ||||||||||||||||||||||||||
Home equity lines of credit | 2 | 9 | — | — | ||||||||||||||||||||||||||||
Total | 4 | $ | 725 | 2 | $ | 166 | ||||||||||||||||||||||||||
Total | 6 | $ | 1,105 | 2 | $ | 166 | ||||||||||||||||||||||||||
Nine Months Ended March 31, 2015 | Nine Months Ended March 31, 2014 | |||||||||||||||||||||||||||||||
Number of | Recorded | Number of | Recorded | |||||||||||||||||||||||||||||
Loans | Investment | Loans | Investment | |||||||||||||||||||||||||||||
Below market interest rate: | ||||||||||||||||||||||||||||||||
Retail consumer: | ||||||||||||||||||||||||||||||||
One-to-four family | 2 | $ | 380 | — | $ | — | ||||||||||||||||||||||||||
Total | 2 | $ | 380 | — | $ | — | ||||||||||||||||||||||||||
Extended payment terms: | ||||||||||||||||||||||||||||||||
Home equity lines of credit | — | $ | — | 1 | $ | 250 | ||||||||||||||||||||||||||
Total | — | $ | — | 1 | $ | 250 | ||||||||||||||||||||||||||
Other TDRs: | ||||||||||||||||||||||||||||||||
Retail consumer: | ||||||||||||||||||||||||||||||||
One-to-four family | 10 | $ | 1,116 | 4 | $ | 422 | ||||||||||||||||||||||||||
Home equity lines of credit | 2 | 9 | 1 | 120 | ||||||||||||||||||||||||||||
Construction and land/lots | 1 | 172 | — | — | ||||||||||||||||||||||||||||
Total | 13 | $ | 1,297 | 5 | $ | 542 | ||||||||||||||||||||||||||
Total | 15 | $ | 1,677 | 6 | $ | 792 | ||||||||||||||||||||||||||
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. |
Net_Income_Per_Share
Net Income Per Share | 9 Months Ended | |||||||||||||||
Mar. 31, 2015 | ||||||||||||||||
Earnings Per Share [Abstract] | ||||||||||||||||
Net Income per Share | 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: | ||||||||||||||||
Three Months Ended March 31, | Nine Months Ended March 31, | |||||||||||||||
2015 | 2014 | 2015 | 2014 | |||||||||||||
Numerator: | ||||||||||||||||
Net income available to common stockholders | $ | 1,162 | $ | 2,606 | $ | 5,467 | $ | 8,809 | ||||||||
Denominator: | ||||||||||||||||
Weighted-average common shares outstanding - basic | 19,113,387 | 18,302,672 | 19,146,025 | 18,724,242 | ||||||||||||
Effect of dilutive shares | 79,315 | 75,487 | 86,766 | 91,174 | ||||||||||||
Weighted-average common shares outstanding - diluted | 19,192,702 | 18,378,159 | 19,232,791 | 18,815,416 | ||||||||||||
Net income per share - basic | $ | 0.06 | $ | 0.14 | $ | 0.28 | $ | 0.46 | ||||||||
Net income per share - diluted | $ | 0.06 | $ | 0.14 | $ | 0.28 | $ | 0.46 | ||||||||
There were 1,450,100 and 1,585,500 outstanding stock options that were anti-dilutive for the three and nine months ended March 31, 2015 and 2014, respectively. |
Equity_Incentive_Plan
Equity Incentive Plan | 9 Months Ended | ||||||||||||||
Mar. 31, 2015 | |||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||||||||||||||
Equity Incentive Plan | 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 the 846,400 shares available for awards of restricted stock and restricted stock units under the 2013 Omnibus Incentive Plan on the open market, for $13,297, 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 March 31, 2015 and 2014 was $662 and $662, respectively, before the tax related benefit of $245 and $245, respectively. Share based compensation expense related to stock options and restricted stock recognized for the nine months ended March 31, 2015 and 2014 was $2,088 and $1,999, respectively, before the tax related benefit of $773 and $740, respectively. | |||||||||||||||
The table below presents stock option activity for the nine months ended March 31, 2015 and 2014: | |||||||||||||||
Options | Weighted- | Remaining | Aggregate | ||||||||||||
average | contractual | Intrinsic | |||||||||||||
exercise | life | Value | |||||||||||||
price | (years) | ||||||||||||||
Options outstanding at June 30, 2013 | 1,557,000 | $ | 14.37 | 9.6 | $ | 4,033 | |||||||||
Granted | 30,000 | 15.83 | 10 | — | |||||||||||
Exercised | — | — | — | — | |||||||||||
Forfeited | 1,500 | 14.37 | — | — | |||||||||||
Expired | — | — | — | — | |||||||||||
Options outstanding at March 31, 2014 | 1,585,500 | $ | 14.4 | 8.9 | $ | 2,193 | |||||||||
Exercisable at March 31, 2014 | 290,175 | $ | 14.37 | ||||||||||||
Options outstanding at June 30, 2014 | 1,513,500 | $ | 14.4 | 8.6 | $ | 2,077 | |||||||||
Granted | 10,000 | 16.08 | 10 | — | |||||||||||
Exercised | 18,000 | 14.37 | — | — | |||||||||||
Forfeited | 5,400 | 14.37 | — | — | |||||||||||
Expired | — | — | — | — | |||||||||||
Options outstanding at March 31, 2015 | $ | 1,500,100 | $ | 14.4 | 7.9 | $ | 2,340 | ||||||||
Exercisable at March 31, 2015 | 549,150 | $ | 14.39 | ||||||||||||
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 2015, 2014 and 2013 was $3.59, $4.49 and $4.50, respectively. 10,000 options were granted in fiscal year 2015. Assumptions used for grants were as follows: | |||||||||||||||
Assumptions in Estimating Option Values | |||||||||||||||
2015 | 2014 | 2013 | |||||||||||||
Weighted-average volatility | 18.9 | % | 28.19 | % | 28.19 | % | |||||||||
Expected dividend yield | — | % | — | % | — | % | |||||||||
Risk-free interest rate | 1.56 | % | 2.04 | % | 1.28 | % | |||||||||
Expected life (years) | 6 | 6.5 | 6.6 | ||||||||||||
At March 31, 2015, the Company had $3,851 of unrecognized compensation expense related to 1,500,100 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 March 31, 2015. At March 31, 2014, the Company had $5,650 of unrecognized compensation expense related to 1,585,500 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 3.9 years at March 31, 2014. | |||||||||||||||
The table below presents restricted stock award activity for the nine months ended March 31, 2015 and 2014: | |||||||||||||||
Restricted | Weighted- | Aggregate | |||||||||||||
stock awards | average grant | Intrinsic | |||||||||||||
date fair value | Value | ||||||||||||||
Non-vested at June 30, 2013 | 511,300 | $ | 14.37 | $ | 8,672 | ||||||||||
Granted | 7,050 | 15.8 | — | ||||||||||||
Vested | 95,485 | 14.37 | — | ||||||||||||
Forfeited | — | — | — | ||||||||||||
Non-vested at March 31, 2014 | 422,865 | $ | 14.39 | $ | 6,673 | ||||||||||
Non-vested at June 30, 2014 | 403,965 | $ | 14.39 | $ | 6,371 | ||||||||||
Granted | — | — | — | ||||||||||||
Vested | 91,895 | 14.39 | — | ||||||||||||
Forfeited | 1,600 | 14.37 | — | ||||||||||||
Non-vested at March 31, 2015 | 310,470 | $ | 14.4 | $ | 4,958 | ||||||||||
At March 31, 2015, unrecognized compensation expense was $4,163 related to 310,470 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 March 31, 2015. At March 31, 2014, unrecognized compensation expense was $5,859 related to 422,865 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 3.9 years at March 31, 2014. |
Commitments_and_Contingencies
Commitments and Contingencies | 9 Months Ended |
Mar. 31, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | 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 March 31, 2015 and June 30, 2014, respectively, loan commitments (excluding $46,151 and $27,086 of undisbursed portions of construction loans) totaled $28,013 and $28,360 of which $9,995 and $3,620 were variable rate commitments and $18,018 and $24,740 were fixed rate commitments. The fixed rate loans had interest rates ranging from 1.99% to 6.25% at March 31, 2015 and 1.85% to 10.51% at June 30, 2014, and terms ranging from 3 to 30 years. Pre-approved but unused lines of credit (principally second mortgage home equity loans and overdraft protection loans) totaled $223,181 and $167,630 at March 31, 2015 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 March 31, 2015 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 March 31, 2015 and June 30, 2014 was $1,873, and $8,087, respectively, which was satisfied by vault cash and balances held at the Federal Reserve Bank. | |
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 March 31, 2015 and June 30, 2014 were $2,768 and $483. There was no liability recorded for these letters of credit at March 31, 2015 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 received a favorable summary judgment ruling on February 20, 2015, however the plaintiffs filed an appeal. The Company continues to believe 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. |
Fair_Value_of_Financial_Instru
Fair Value of Financial Instruments | 9 Months Ended | |||||||||||||||||||
Mar. 31, 2015 | ||||||||||||||||||||
Fair Value Disclosures [Abstract] | ||||||||||||||||||||
Fair Value of Financial Instruments | 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 March 31, 2015 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: | ||||||||||||||||||||
March 31, 2015 | ||||||||||||||||||||
Description | Total | Level 1 | Level 2 | Level 3 | ||||||||||||||||
U.S Government Agencies | $ | 88,117 | $ | — | $ | 88,117 | $ | — | ||||||||||||
Residential Mortgage-backed Securities of U.S. Government Agencies and Government Sponsored Enterprises | 121,284 | — | 121,284 | — | ||||||||||||||||
Municipal Bonds | 17,002 | — | 17,002 | — | ||||||||||||||||
Corporate Bonds | 4,046 | — | 3,046 | 1,000 | ||||||||||||||||
Equity Securities | 63 | — | 63 | — | ||||||||||||||||
Total | $ | 230,512 | $ | — | $ | 229,512 | $ | 1,000 | ||||||||||||
June 30, 2014 | ||||||||||||||||||||
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: | ||||||||||||||||||||
Nine Months Ended March 31, 2015 | ||||||||||||||||||||
Description | Total | Level 1 | Level 2 | Level 3 | ||||||||||||||||
Impaired loans | $ | 5,319 | $ | — | $ | — | $ | 5,319 | ||||||||||||
REO | 1,185 | — | — | 1,185 | ||||||||||||||||
Total | $ | 6,504 | $ | — | $ | — | $ | 6,504 | ||||||||||||
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 March 31, 2015 is shown in the table below: | ||||||||||||||||||||
Fair Value at March 31, 2015 | Valuation | Unobservable | Range | Weighted | ||||||||||||||||
Techniques | Input | Average | ||||||||||||||||||
Nonrecurring measurements: | ||||||||||||||||||||
Impaired loans, net | $ | 5,319 | Discounted appraisals | Collateral discounts | 3% - 60% | 15% | ||||||||||||||
REO | $ | 1,185 | Discounted appraisals | Collateral discounts | 10% - 15% | 14% | ||||||||||||||
The stated carrying value and estimated fair value amounts of financial instruments as of March 31, 2015 and June 30, 2014, are summarized below: | ||||||||||||||||||||
March 31, 2015 | ||||||||||||||||||||
Carrying | Fair | Level 1 | Level 2 | Level 3 | ||||||||||||||||
Value | Value | |||||||||||||||||||
Cash and interest-bearing deposits | $ | 294,659 | $ | 294,659 | $ | 294,659 | $ | — | $ | — | ||||||||||
Certificates of deposit in other banks | 204,596 | 204,596 | — | 204,596 | — | |||||||||||||||
Securities available for sale | 230,512 | 230,512 | — | 229,512 | 1,000 | |||||||||||||||
Other investments | 19,142 | 19,142 | 19,142 | — | — | |||||||||||||||
Loans held for sale | 2,225 | 2,261 | — | — | 2,261 | |||||||||||||||
Loans, net | 1,618,376 | 1,524,874 | — | — | 1,524,874 | |||||||||||||||
Accrued interest receivable | 7,249 | 7,249 | — | 1,095 | 6,154 | |||||||||||||||
Non-interest-bearing and NOW deposits | 592,338 | 592,338 | — | 592,338 | — | |||||||||||||||
Money market accounts | 489,606 | 489,606 | — | 489,606 | — | |||||||||||||||
Savings accounts | 223,748 | 223,748 | — | 223,748 | — | |||||||||||||||
Certificates of deposit | 608,081 | 607,650 | — | 607,650 | — | |||||||||||||||
Other borrowings | 250,000 | 250,000 | — | 250,000 | — | |||||||||||||||
Accrued interest payable | 146 | 146 | — | 146 | — | |||||||||||||||
June 30, 2014 | ||||||||||||||||||||
Carrying | Fair | Level 1 | Level 2 | Level 3 | ||||||||||||||||
Value | Value | |||||||||||||||||||
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 $297,345 and $223,076 of commitments to originate loans, undisbursed portions of interim construction loans, and unused lines of credit at March 31, 2015 and June 30, 2014, respectively (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 the 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 March 31, 2015 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. |
Business_Combinations_Tables
Business Combinations (Tables) | 9 Months Ended | |||||||||||
Mar. 31, 2015 | ||||||||||||
Business Combinations [Abstract] | ||||||||||||
Schedule of Business Acquisitions | The following table presents the consideration paid by the Bank in the acquisition of these Bank of America branches and the assets acquired and liabilities assumed as of November 14, 2014: | |||||||||||
As Recorded | Fair Value and | As | ||||||||||
By Bank of | Other Merger | Recorded | ||||||||||
America | Related | by the | ||||||||||
Adjustments | Company | |||||||||||
Consideration Paid | ||||||||||||
Cash paid as deposit premium | $ | 9,805 | ||||||||||
Total consideration | $ | 9,805 | ||||||||||
Assets | ||||||||||||
Cash and cash equivalents | $ | 320,673 | $ | — | $ | 320,673 | ||||||
Loans, net of allowance | 1,045 | — | 1,045 | |||||||||
Premises and equipment, net | 6,303 | 2,690 | 8,993 | |||||||||
Accrued interest receivable | 3 | — | 3 | |||||||||
Deferred income taxes | — | 353 | 353 | |||||||||
Core deposit intangibles | — | 8,156 | 8,156 | |||||||||
Total assets acquired | $ | 328,024 | $ | 11,199 | $ | 339,223 | ||||||
Liabilities | ||||||||||||
Deposits | $ | 328,007 | $ | 1,394 | $ | 329,401 | ||||||
Other liabilities | 17 | — | 17 | |||||||||
Total liabilities assumed | $ | 328,024 | $ | 1,394 | $ | 329,418 | ||||||
Net identifiable assets acquired over liabilities assumed | $ | — | $ | 9,805 | $ | 9,805 | ||||||
Goodwill | $ | — | ||||||||||
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 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: | ||||||||||||
As Recorded | Fair Value and | As | ||||||||||
By Bank of | Other Merger | Recorded | ||||||||||
Commerce | Related | by the | ||||||||||
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 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: | ||||||||||||
As Recorded | Fair Value and | As | ||||||||||
by | Other Merger | Recorded | ||||||||||
BankGreenville | Related | by the | ||||||||||
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 $8,000. | |||||||||||
Schedule of Purchased Performing Loans and Purchased Impaired Loans Acquired in Transfer | The carrying amount of acquired loans from BankGreenville as of July 31, 2013 consisted of purchased performing loans and PCI loans as detailed in the following table: | |||||||||||
Purchased | PCI | Total | ||||||||||
Performing | 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 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 | PCI | Total | ||||||||||
Performing | 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 | ||||||
The carrying amount of acquired loans from Jefferson as of May 31, 2014 consisted of purchased performing loans and PCI loans as detailed in the following table: | ||||||||||||
Purchased | PCI | Total | ||||||||||
Performing | 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 | ||||||
Schedule of Financial Impact of Acquisition | 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 Nine Months Ended March 31, 2015 | Pro Forma Nine Months Ended March 31, 2015 | Pro Forma Nine Months Ended March 31, 2014 | ||||||||||
Total revenues* | $ | 67,879 | $ | 72,183 | $ | 71,341 | ||||||
Net income | 5,467 | 8,194 | 12,542 | |||||||||
* Net interest income plus other income |
Securities_Available_For_Sale_
Securities Available For Sale (Tables) | 9 Months Ended | |||||||||||||||||||||||
Mar. 31, 2015 | ||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | ||||||||||||||||||||||||
Schedule of Available-for-sale Securities Reconciliation | Securities available for sale consist of the following at the dates indicated: | |||||||||||||||||||||||
March 31, 2015 | ||||||||||||||||||||||||
Amortized | Gross | Gross | Estimated | |||||||||||||||||||||
Cost | Unrealized | Unrealized | Fair | |||||||||||||||||||||
Gains | Losses | Value | ||||||||||||||||||||||
U.S. Government Agencies | $ | 87,263 | $ | 854 | $ | — | $ | 88,117 | ||||||||||||||||
Residential Mortgage-backed Securities of U.S. Government | ||||||||||||||||||||||||
Agencies and Government-Sponsored Enterprises | 120,101 | 1,313 | (130 | ) | 121,284 | |||||||||||||||||||
Municipal Bonds | 16,426 | 608 | (32 | ) | 17,002 | |||||||||||||||||||
Corporate Bonds | 3,895 | 151 | — | 4,046 | ||||||||||||||||||||
Equity Securities | 63 | — | — | 63 | ||||||||||||||||||||
Total | $ | 227,748 | $ | 2,926 | $ | (162 | ) | $ | 230,512 | |||||||||||||||
June 30, 2014 | ||||||||||||||||||||||||
Amortized | Gross | Gross | Estimated | |||||||||||||||||||||
Cost | Unrealized | Unrealized | Fair | |||||||||||||||||||||
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 | |||||||||||||||
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. | |||||||||||||||||||||||
March 31, 2015 | ||||||||||||||||||||||||
Amortized | Estimated | |||||||||||||||||||||||
Cost | Fair Value | |||||||||||||||||||||||
Due within one year | $ | 1,001 | $ | 1,001 | ||||||||||||||||||||
Due after one year through five years | 69,225 | 69,502 | ||||||||||||||||||||||
Due after five years through ten years | 33,579 | 34,706 | ||||||||||||||||||||||
Due after ten years | 3,779 | 3,956 | ||||||||||||||||||||||
Mortgage-backed securities | 120,101 | 121,284 | ||||||||||||||||||||||
Total | $ | 227,685 | $ | 230,449 | ||||||||||||||||||||
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 March 31, 2015 and June 30, 2014 were as follows: | |||||||||||||||||||||||
March 31, 2015 | ||||||||||||||||||||||||
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 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||
Residential Mortgage-backed | ||||||||||||||||||||||||
Securities of U.S. Government | ||||||||||||||||||||||||
Agencies and Government- | ||||||||||||||||||||||||
Sponsored Enterprises | 12,404 | (43 | ) | 5,263 | (87 | ) | 17,667 | (130 | ) | |||||||||||||||
Municipal Bonds | 2,594 | (32 | ) | — | — | 2,594 | (32 | ) | ||||||||||||||||
Total | $ | 14,998 | $ | (75 | ) | $ | 5,263 | $ | (87 | ) | $ | 20,261 | $ | (162 | ) | |||||||||
June 30, 2014 | ||||||||||||||||||||||||
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 | ) | |||||||||
Loans_Tables
Loans (Tables) | 9 Months Ended | |||||||||||||||||||||||||||||||
Mar. 31, 2015 | ||||||||||||||||||||||||||||||||
Receivables [Abstract] | ||||||||||||||||||||||||||||||||
Schedule of Accounts, Notes, Loans and Financing Receivable | Loans consist of the following at the dates indicated: | |||||||||||||||||||||||||||||||
31-Mar-15 | 30-Jun-14 | |||||||||||||||||||||||||||||||
Retail consumer loans: | ||||||||||||||||||||||||||||||||
One-to-four family | $ | 651,588 | $ | 660,200 | ||||||||||||||||||||||||||||
Home equity lines of credit | 198,717 | 148,379 | ||||||||||||||||||||||||||||||
Construction and land/lots | 48,248 | 59,249 | ||||||||||||||||||||||||||||||
Indirect auto finance | 32,230 | 8,833 | ||||||||||||||||||||||||||||||
Consumer | 4,135 | 6,331 | ||||||||||||||||||||||||||||||
Total retail consumer loans | 934,918 | 882,992 | ||||||||||||||||||||||||||||||
Commercial loans: | ||||||||||||||||||||||||||||||||
Commercial real estate | 452,431 | 377,769 | ||||||||||||||||||||||||||||||
Construction and development | 58,989 | 56,457 | ||||||||||||||||||||||||||||||
Commercial and industrial | 88,451 | 74,435 | ||||||||||||||||||||||||||||||
Municipal leases | 106,693 | 106,215 | ||||||||||||||||||||||||||||||
Total commercial loans | 706,564 | 614,876 | ||||||||||||||||||||||||||||||
Total loans | 1,641,482 | 1,497,868 | ||||||||||||||||||||||||||||||
Deferred loan fees, net | (425 | ) | (1,340 | ) | ||||||||||||||||||||||||||||
Total loans, net of deferred loan fees and discount | 1,641,057 | 1,496,528 | ||||||||||||||||||||||||||||||
Allowance for loan and lease losses | (22,681 | ) | (23,429 | ) | ||||||||||||||||||||||||||||
Loans, net | $ | 1,618,376 | $ | 1,473,099 | ||||||||||||||||||||||||||||
Non-Purchased and Purchased Performing Loans Credit Quality Indicators | The Company's total non-purchased and purchased performing loans by segment, class, and risk grade at the dates indicated follow: | |||||||||||||||||||||||||||||||
Pass | Special | Substandard | Doubtful | Loss | Total | |||||||||||||||||||||||||||
Mention | ||||||||||||||||||||||||||||||||
March 31, 2015 | ||||||||||||||||||||||||||||||||
Retail consumer loans: | ||||||||||||||||||||||||||||||||
One-to-four family | $ | 593,246 | $ | 13,794 | $ | 31,940 | $ | 3,111 | $ | 4 | $ | 642,095 | ||||||||||||||||||||
Home equity lines of credit | 192,665 | 635 | 4,542 | 407 | 100 | 198,349 | ||||||||||||||||||||||||||
Construction and land/lots | 44,642 | 517 | 2,060 | 163 | — | 47,382 | ||||||||||||||||||||||||||
Indirect auto finance | 32,185 | 45 | — | — | — | 32,230 | ||||||||||||||||||||||||||
Consumer | 3,927 | 78 | 97 | 9 | 11 | 4,122 | ||||||||||||||||||||||||||
Commercial loans: | ||||||||||||||||||||||||||||||||
Commercial real estate | 379,567 | 14,363 | 18,261 | 311 | — | 412,502 | ||||||||||||||||||||||||||
Construction and development | 45,076 | 2,047 | 5,928 | — | — | 53,051 | ||||||||||||||||||||||||||
Commercial and industrial | 79,329 | 565 | 2,217 | — | 1 | 82,112 | ||||||||||||||||||||||||||
Municipal leases | 104,355 | 1,757 | 581 | — | — | 106,693 | ||||||||||||||||||||||||||
Total loans | $ | 1,474,992 | $ | 33,801 | $ | 65,626 | $ | 4,001 | $ | 116 | $ | 1,578,536 | ||||||||||||||||||||
Pass | Special | Substandard | Doubtful | Loss | Total | |||||||||||||||||||||||||||
Mention | ||||||||||||||||||||||||||||||||
June 30, 2014 | ||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||
Purchased Credit-Impaired Loans Credit Quality Indicators | The Company's total PCI loans by segment, class, and risk grade at the dates indicated follow: | |||||||||||||||||||||||||||||||
Pass | Special | Substandard | Doubtful | Loss | Total | |||||||||||||||||||||||||||
Mention | ||||||||||||||||||||||||||||||||
March 31, 2015 | ||||||||||||||||||||||||||||||||
Retail consumer loans: | ||||||||||||||||||||||||||||||||
One-to-four family | $ | 5,643 | $ | 1,222 | $ | 2,571 | $ | 57 | $ | — | $ | 9,493 | ||||||||||||||||||||
Home equity lines of credit | 260 | — | 108 | — | — | 368 | ||||||||||||||||||||||||||
Construction and land/lots | 599 | — | 267 | — | — | 866 | ||||||||||||||||||||||||||
Indirect auto finance | — | — | — | — | — | — | ||||||||||||||||||||||||||
Consumer | 13 | — | — | — | — | 13 | ||||||||||||||||||||||||||
Commercial loans: | ||||||||||||||||||||||||||||||||
Commercial real estate | 28,725 | 5,166 | 6,038 | — | — | 39,929 | ||||||||||||||||||||||||||
Construction and development | 2,433 | 156 | 3,349 | — | — | 5,938 | ||||||||||||||||||||||||||
Commercial and industrial | 4,891 | 677 | 771 | — | — | 6,339 | ||||||||||||||||||||||||||
Municipal leases | — | — | — | — | — | — | ||||||||||||||||||||||||||
Total loans | $ | 42,564 | $ | 7,221 | $ | 13,104 | $ | 57 | $ | — | $ | 62,946 | ||||||||||||||||||||
Pass | Special | Substandard | Doubtful | Loss | Total | |||||||||||||||||||||||||||
Mention | ||||||||||||||||||||||||||||||||
June 30, 2014 | ||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||
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 | ||||||||||||||||||||||||||||
March 31, 2015 | ||||||||||||||||||||||||||||||||
Retail consumer loans: | ||||||||||||||||||||||||||||||||
One-to-four family | $ | 6,861 | $ | 7,289 | $ | 14,150 | $ | 637,438 | $ | 651,588 | ||||||||||||||||||||||
Home equity lines of credit | 931 | 490 | 1,421 | 197,296 | 198,717 | |||||||||||||||||||||||||||
Construction and land/lots | 48 | 639 | 687 | 47,561 | 48,248 | |||||||||||||||||||||||||||
Indirect auto finance | — | — | — | 32,230 | 32,230 | |||||||||||||||||||||||||||
Consumer | 8 | 5 | 13 | 4,122 | 4,135 | |||||||||||||||||||||||||||
Commercial loans: | ||||||||||||||||||||||||||||||||
Commercial real estate | 2,466 | 6,431 | 8,897 | 443,534 | 452,431 | |||||||||||||||||||||||||||
Construction and development | 1,597 | 4,213 | 5,810 | 53,179 | 58,989 | |||||||||||||||||||||||||||
Commercial and industrial | 1,102 | 1,185 | 2,287 | 86,164 | 88,451 | |||||||||||||||||||||||||||
Municipal leases | 1,037 | — | 1,037 | 105,656 | 106,693 | |||||||||||||||||||||||||||
Total loans | $ | 14,050 | $ | 20,252 | $ | 34,302 | $ | 1,607,180 | $ | 1,641,482 | ||||||||||||||||||||||
The table above includes PCI loans of $2,912 30-89 days past due and $6,372 90 days or more past due as of March 31, 2015. | ||||||||||||||||||||||||||||||||
Past Due | Total | |||||||||||||||||||||||||||||||
30-89 Days | 90 Days+ | Total | Current | Loans | ||||||||||||||||||||||||||||
June 30, 2014 | ||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||
Schedule of Financing Receivables, Non Accrual Status | 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: | |||||||||||||||||||||||||||||||
March 31, 2015 | June 30, 2014 | |||||||||||||||||||||||||||||||
Nonaccruing | 90 Days + & | Nonaccruing | 90 Days + & | |||||||||||||||||||||||||||||
still accruing | still accruing | |||||||||||||||||||||||||||||||
Retail consumer loans: | ||||||||||||||||||||||||||||||||
One-to-four family | $ | 13,189 | $ | — | $ | 14,917 | $ | — | ||||||||||||||||||||||||
Home equity lines of credit | 2,204 | — | 2,749 | — | ||||||||||||||||||||||||||||
Construction and land/lots | 633 | — | 443 | — | ||||||||||||||||||||||||||||
Indirect auto finance | — | — | — | — | ||||||||||||||||||||||||||||
Consumer | 21 | — | 27 | — | ||||||||||||||||||||||||||||
Commercial loans: | ||||||||||||||||||||||||||||||||
Commercial real estate | 9,581 | — | 12,953 | — | ||||||||||||||||||||||||||||
Construction and development | 4,046 | — | 5,697 | — | ||||||||||||||||||||||||||||
Commercial and industrial | 903 | — | 1,134 | — | ||||||||||||||||||||||||||||
Municipal leases | 316 | — | — | — | ||||||||||||||||||||||||||||
Total loans | $ | 30,893 | $ | — | $ | 37,920 | $ | — | ||||||||||||||||||||||||
Schedule of Troubled Debt Restructurings Performing and Excluded from Nonaccruing Loans | 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: | |||||||||||||||||||||||||||||||
31-Mar-15 | 30-Jun-14 | |||||||||||||||||||||||||||||||
Performing TDRs included in impaired loans | $ | 21,189 | $ | 22,179 | ||||||||||||||||||||||||||||
Allowance for Credit Losses on Financing Receivables | An analysis of the allowance for loan losses by segment for the periods shown was as follows: | |||||||||||||||||||||||||||||||
Three Months Ended March 31, 2015 | Three Months Ended March 31, 2014 | |||||||||||||||||||||||||||||||
Retail | Commercial | Total | Retail | Commercial | Total | |||||||||||||||||||||||||||
Consumer | Consumer | |||||||||||||||||||||||||||||||
Balance at beginning of period | $ | 14,603 | $ | 8,753 | $ | 23,356 | $ | 18,217 | $ | 8,908 | $ | 27,125 | ||||||||||||||||||||
Provision for (recovery of) loan losses | 184 | (184 | ) | — | (611 | ) | (1,189 | ) | (1,800 | ) | ||||||||||||||||||||||
Charge-offs | (1,313 | ) | (354 | ) | (1,667 | ) | (402 | ) | (253 | ) | (655 | ) | ||||||||||||||||||||
Recoveries | 101 | 891 | 992 | 113 | 486 | 599 | ||||||||||||||||||||||||||
Balance at end of period | $ | 13,575 | $ | 9,106 | $ | 22,681 | $ | 17,317 | $ | 7,952 | $ | 25,269 | ||||||||||||||||||||
Nine Months Ended March 31, 2015 | Nine Months Ended March 31, 2014 | |||||||||||||||||||||||||||||||
Retail | Commercial | Total | Retail | Commercial | Total | |||||||||||||||||||||||||||
Consumer | Consumer | |||||||||||||||||||||||||||||||
Balance at beginning of period | $ | 15,731 | $ | 7,698 | $ | 23,429 | $ | 21,952 | $ | 10,121 | $ | 32,073 | ||||||||||||||||||||
Provision for (recovery of) loan losses | (745 | ) | 495 | (250 | ) | (1,887 | ) | (2,913 | ) | (4,800 | ) | |||||||||||||||||||||
Charge-offs | (2,369 | ) | (682 | ) | (3,051 | ) | (3,768 | ) | (550 | ) | (4,318 | ) | ||||||||||||||||||||
Recoveries | 958 | 1,595 | 2,553 | 1,020 | 1,294 | 2,314 | ||||||||||||||||||||||||||
Balance at end of period | $ | 13,575 | $ | 9,106 | $ | 22,681 | $ | 17,317 | $ | 7,952 | $ | 25,269 | ||||||||||||||||||||
Schedule of Ending Balances of Loans and the Related Allowance by Segment and Class | 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 | |||||||||||||||||||||||||||||||
PCI | Loans | Loans | Total | PCI | Loans | Loans | Total | |||||||||||||||||||||||||
individually | Collectively | individually | Collectively | |||||||||||||||||||||||||||||
evaluated for | Evaluated | evaluated for | Evaluated | |||||||||||||||||||||||||||||
impairment | impairment | |||||||||||||||||||||||||||||||
March 31, 2015 | ||||||||||||||||||||||||||||||||
Retail consumer loans: | ||||||||||||||||||||||||||||||||
One-to-four family | $ | — | $ | 480 | $ | 8,042 | $ | 8,522 | $ | 9,493 | $ | 24,438 | $ | 617,657 | $ | 651,588 | ||||||||||||||||
Home equity | — | 407 | 1,897 | 2,304 | 368 | 2,724 | 195,625 | 198,717 | ||||||||||||||||||||||||
Construction and land/lots | — | 573 | 1,636 | 2,209 | 866 | 2,129 | 45,253 | 48,248 | ||||||||||||||||||||||||
Indirect auto finance | — | — | 438 | 438 | — | — | 32,230 | 32,230 | ||||||||||||||||||||||||
Consumer | — | 11 | 91 | 102 | 13 | 17 | 4,105 | 4,135 | ||||||||||||||||||||||||
Commercial loans: | ||||||||||||||||||||||||||||||||
Commercial real estate | — | 60 | 5,736 | 5,796 | 39,929 | 15,650 | 396,852 | 452,431 | ||||||||||||||||||||||||
Construction and development | — | 412 | 1,475 | 1,887 | 5,938 | 6,022 | 47,029 | 58,989 | ||||||||||||||||||||||||
Commercial and industrial | — | 1 | 751 | 752 | 6,339 | 2,173 | 79,939 | 88,451 | ||||||||||||||||||||||||
Municipal leases | — | — | 671 | 671 | — | 316 | 106,377 | 106,693 | ||||||||||||||||||||||||
Total | $ | — | $ | 1,944 | $ | 20,737 | $ | 22,681 | $ | 62,946 | $ | 53,469 | $ | 1,525,067 | $ | 1,641,482 | ||||||||||||||||
June 30, 2014 | ||||||||||||||||||||||||||||||||
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 | ||||||||||||||||
Schedule of Impaired Loans and Related Allowance by Segment and Class | The Company's impaired loans and the related allowance, by segment and class, at the dates indicated follows: | |||||||||||||||||||||||||||||||
Total Impaired Loans | ||||||||||||||||||||||||||||||||
Unpaid | Recorded | Recorded | Total | Related | ||||||||||||||||||||||||||||
Principal | Investment | Investment | Recorded | |||||||||||||||||||||||||||||
Balance | With a | With No | Allowance | |||||||||||||||||||||||||||||
Recorded | Recorded | |||||||||||||||||||||||||||||||
Allowance | Allowance | |||||||||||||||||||||||||||||||
March 31, 2015 | ||||||||||||||||||||||||||||||||
Retail consumer loans: | ||||||||||||||||||||||||||||||||
One-to-four family | $ | 35,707 | $ | 12,373 | $ | 19,036 | $ | 31,409 | $ | 578 | ||||||||||||||||||||||
Home equity lines of credit | 6,391 | 3,110 | 1,380 | 4,490 | 429 | |||||||||||||||||||||||||||
Construction and land/lots | 3,670 | 1,466 | 816 | 2,282 | 579 | |||||||||||||||||||||||||||
Indirect auto finance | 31 | — | — | — | — | |||||||||||||||||||||||||||
Consumer | 1,617 | 10 | 19 | 29 | 11 | |||||||||||||||||||||||||||
Commercial loans: | ||||||||||||||||||||||||||||||||
Commercial real estate | 22,047 | 2,651 | 14,626 | 17,277 | 88 | |||||||||||||||||||||||||||
Construction and development | 8,631 | 3,344 | 3,476 | 6,820 | 436 | |||||||||||||||||||||||||||
Commercial and industrial | 3,439 | 171 | 2,202 | 2,373 | 3 | |||||||||||||||||||||||||||
Municipal leases | 316 | — | 316 | 316 | — | |||||||||||||||||||||||||||
Total impaired loans | $ | 81,849 | $ | 23,125 | $ | 41,871 | $ | 64,996 | $ | 2,124 | ||||||||||||||||||||||
June 30, 2014 | ||||||||||||||||||||||||||||||||
Retail consumer loans: | ||||||||||||||||||||||||||||||||
One-to-four family | $ | 34,243 | $ | 12,946 | $ | 18,047 | $ | 30,993 | $ | 618 | ||||||||||||||||||||||
Home equity lines of credit | 6,161 | 2,110 | 2,299 | 4,409 | 160 | |||||||||||||||||||||||||||
Construction and land/lots | 3,287 | 1,053 | 793 | 1,846 | 383 | |||||||||||||||||||||||||||
Indirect auto finance | — | — | — | — | — | |||||||||||||||||||||||||||
Consumer | 364 | 16 | 11 | 27 | 3 | |||||||||||||||||||||||||||
Commercial loans: | ||||||||||||||||||||||||||||||||
Commercial real estate | 18,558 | 1,714 | 13,082 | 14,796 | 59 | |||||||||||||||||||||||||||
Construction and development | 9,091 | 928 | 4,930 | 5,858 | 48 | |||||||||||||||||||||||||||
Commercial and industrial | 2,987 | 313 | 2,030 | 2,343 | 7 | |||||||||||||||||||||||||||
Municipal leases | — | — | — | — | — | |||||||||||||||||||||||||||
Total impaired loans | $ | 74,691 | $ | 19,080 | $ | 41,192 | $ | 60,272 | $ | 1,278 | ||||||||||||||||||||||
Impaired loans above excludes $10,354 at March 31, 2015 and $9,220 at June 30, 2014 in PCI loans due to the accretion of discounts established in accordance with the acquisition method of accounting for business combinations. | ||||||||||||||||||||||||||||||||
Schedule of Average Recorded Investment in Loans, Unpaid Principal Balance and Interest Income Recognized | The Company's average recorded investment in loans individually evaluated for impairment and interest income recognized on impaired loans for the three and nine months ended March 31, 2015 and 2014 was as follows: | |||||||||||||||||||||||||||||||
Three Months Ended | ||||||||||||||||||||||||||||||||
March 31, 2015 | March 31, 2014 | |||||||||||||||||||||||||||||||
Average | Interest | Average | Interest | |||||||||||||||||||||||||||||
Recorded | Income | Recorded | Income | |||||||||||||||||||||||||||||
Investment | Recognized | Investment | Recognized | |||||||||||||||||||||||||||||
Retail consumer loans: | ||||||||||||||||||||||||||||||||
One-to-four family | $ | 30,155 | $ | 395 | $ | 37,320 | $ | 355 | ||||||||||||||||||||||||
Home equity lines of credit | 4,316 | 66 | 5,722 | 57 | ||||||||||||||||||||||||||||
Construction and land/lots | 2,152 | 38 | 2,101 | 46 | ||||||||||||||||||||||||||||
Indirect auto finance | — | — | — | — | ||||||||||||||||||||||||||||
Consumer | 55 | 5 | 32 | 3 | ||||||||||||||||||||||||||||
Commercial loans: | ||||||||||||||||||||||||||||||||
Commercial real estate | 15,551 | 147 | 22,930 | 140 | ||||||||||||||||||||||||||||
Construction and development | 6,019 | 55 | 6,789 | 45 | ||||||||||||||||||||||||||||
Commercial and industrial | 2,270 | 18 | 2,791 | 37 | ||||||||||||||||||||||||||||
Municipal leases | 447 | 12 | — | — | ||||||||||||||||||||||||||||
Total loans | $ | 60,965 | $ | 736 | $ | 77,685 | $ | 683 | ||||||||||||||||||||||||
Nine Months Ended | ||||||||||||||||||||||||||||||||
March 31, 2015 | March 31, 2014 | |||||||||||||||||||||||||||||||
Average | Interest | Average | Interest | |||||||||||||||||||||||||||||
Recorded | Income | Recorded | Income | |||||||||||||||||||||||||||||
Investment | Recognized | Investment | Recognized | |||||||||||||||||||||||||||||
Retail consumer loans: | ||||||||||||||||||||||||||||||||
One-to-four family | $ | 31,914 | $ | 1,283 | $ | 41,601 | $ | 1,247 | ||||||||||||||||||||||||
Home equity lines of credit | 4,730 | 195 | 5,855 | 213 | ||||||||||||||||||||||||||||
Construction and land/lots | 2,153 | 125 | 2,205 | 155 | ||||||||||||||||||||||||||||
Indirect auto finance | — | 1 | — | — | ||||||||||||||||||||||||||||
Consumer | 37 | 16 | 40 | 6 | ||||||||||||||||||||||||||||
Commercial loans: | ||||||||||||||||||||||||||||||||
Commercial real estate | 17,281 | 406 | 24,434 | 499 | ||||||||||||||||||||||||||||
Construction and development | 6,104 | 133 | 8,888 | 132 | ||||||||||||||||||||||||||||
Commercial and industrial | 2,622 | 74 | 2,775 | 131 | ||||||||||||||||||||||||||||
Municipal leases | 239 | 17 | — | — | ||||||||||||||||||||||||||||
Total loans | $ | 65,080 | $ | 2,250 | $ | 85,798 | $ | 2,383 | ||||||||||||||||||||||||
Schedule of Changes in Accretable Yield for Purchased Impaired Loans | A summary of changes in the accretable yield for PCI loans for the three and nine months ended March 31, 2015 and 2014 was as follows: | |||||||||||||||||||||||||||||||
Three Months Ended | ||||||||||||||||||||||||||||||||
31-Mar-15 | 31-Mar-14 | |||||||||||||||||||||||||||||||
Accretable yield, beginning of period | $ | 10,335 | $ | 1,610 | ||||||||||||||||||||||||||||
Interest income | (1,616 | ) | (155 | ) | ||||||||||||||||||||||||||||
Accretable yield, end of period | $ | 8,719 | $ | 1,455 | ||||||||||||||||||||||||||||
Nine Months Ended | ||||||||||||||||||||||||||||||||
31-Mar-15 | 31-Mar-14 | |||||||||||||||||||||||||||||||
Accretable yield, beginning of period | $ | 6,151 | $ | — | ||||||||||||||||||||||||||||
Addition from the BankGreenville acquisition | — | 1,835 | ||||||||||||||||||||||||||||||
Addition from the Bank of Commerce acquisition | 7,315 | — | ||||||||||||||||||||||||||||||
Interest income | (4,747 | ) | (380 | ) | ||||||||||||||||||||||||||||
Accretable yield, end of period | $ | 8,719 | $ | 1,455 | ||||||||||||||||||||||||||||
Schedule of Purchased Performing Loans Receivable -- Bank of Commerce | The following table presents the purchased performing loans receivable for Bank of Commerce at July 31, 2014 (the acquisition date): | |||||||||||||||||||||||||||||||
July 31, | ||||||||||||||||||||||||||||||||
2014 | ||||||||||||||||||||||||||||||||
Contractually required principal payments receivable | $ | 47,112 | ||||||||||||||||||||||||||||||
Adjustment for credit, interest rate, and liquidity | 1,159 | |||||||||||||||||||||||||||||||
Balance of purchased loans receivable | $ | 45,953 | ||||||||||||||||||||||||||||||
Schedule of Purchased Impaired Loans Receivable -- Bank of Commerce | 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 | ||||||||||||||||||||||||||||||
Schedule of Debtor Troubled Debt Restructuring, Current Period | For the three and nine months ended March 31, 2015 and 2014, the following table presents a breakdown of the types of concessions made on TDRs by loan class: | |||||||||||||||||||||||||||||||
Three Months Ended March 31, 2015 | Three Months Ended March 31, 2014 | |||||||||||||||||||||||||||||||
Number | Pre | Post | Number | Pre | Post | |||||||||||||||||||||||||||
of | Modification | Modification | of | Modification | Modification | |||||||||||||||||||||||||||
Loans | Outstanding | Outstanding | Loans | Outstanding | Outstanding | |||||||||||||||||||||||||||
Recorded | Recorded | Recorded | Recorded | |||||||||||||||||||||||||||||
Investment | Investment | Investment | Investment | |||||||||||||||||||||||||||||
Below market interest rate: | ||||||||||||||||||||||||||||||||
Retail consumer: | ||||||||||||||||||||||||||||||||
One-to-four family | 3 | $ | 388 | $ | 386 | — | $ | — | $ | — | ||||||||||||||||||||||
Total | 3 | $ | 388 | $ | 386 | — | $ | — | $ | — | ||||||||||||||||||||||
Extended term: | ||||||||||||||||||||||||||||||||
Retail consumer: | ||||||||||||||||||||||||||||||||
One-to-four family | — | $ | — | $ | — | 1 | $ | 42 | $ | 41 | ||||||||||||||||||||||
Total | — | $ | — | $ | — | 1 | $ | 42 | $ | 41 | ||||||||||||||||||||||
Other TDRs: | ||||||||||||||||||||||||||||||||
Retail consumer: | ||||||||||||||||||||||||||||||||
One-to-four family | 6 | $ | 3,091 | $ | 3,006 | 7 | $ | 777 | $ | 787 | ||||||||||||||||||||||
Home equity lines of credit | 2 | 41 | 9 | — | — | — | ||||||||||||||||||||||||||
Construction and land/lots | — | $ | — | $ | — | 1 | 652 | 642 | ||||||||||||||||||||||||
Total | 8 | $ | 3,132 | $ | 3,015 | 8 | $ | 1,429 | $ | 1,429 | ||||||||||||||||||||||
Total | 11 | $ | 3,520 | $ | 3,401 | 9 | $ | 1,471 | $ | 1,470 | ||||||||||||||||||||||
Nine Months Ended March 31, 2015 | Nine Months Ended March 31, 2014 | |||||||||||||||||||||||||||||||
Number | Pre | Post | Number | Pre | Post | |||||||||||||||||||||||||||
of | Modification | Modification | of | Modification Outstanding Recorded | Modification | |||||||||||||||||||||||||||
Loans | Outstanding | Outstanding | Loans | Investment | Outstanding | |||||||||||||||||||||||||||
Recorded | Recorded | Recorded | ||||||||||||||||||||||||||||||
Investment | Investment | Investment | ||||||||||||||||||||||||||||||
Below market interest rate: | ||||||||||||||||||||||||||||||||
Retail consumer: | ||||||||||||||||||||||||||||||||
One-to-four family | 4 | $ | 449 | $ | 473 | 3 | $ | 146 | $ | 142 | ||||||||||||||||||||||
Home equity lines of credit | — | — | — | 2 | 347 | 343 | ||||||||||||||||||||||||||
Construction and land/lots | 1 | 110 | 103 | — | — | — | ||||||||||||||||||||||||||
Total | 5 | $ | 559 | $ | 576 | 5 | $ | 493 | $ | 485 | ||||||||||||||||||||||
Extended term: | ||||||||||||||||||||||||||||||||
Retail consumer: | ||||||||||||||||||||||||||||||||
One-to-four family | — | $ | — | $ | — | 2 | $ | 44 | $ | 41 | ||||||||||||||||||||||
Home equity lines of credit | 3 | 91 | 87 | — | — | — | ||||||||||||||||||||||||||
Consumer | 2 | 10 | 9 | — | — | — | ||||||||||||||||||||||||||
Commercial: | ||||||||||||||||||||||||||||||||
Commercial real estate | 2 | $ | 426 | 471 | — | $ | — | $ | — | |||||||||||||||||||||||
Total | 7 | $ | 527 | $ | 567 | 2 | $ | 44 | $ | 41 | ||||||||||||||||||||||
Other TDRs: | ||||||||||||||||||||||||||||||||
Retail consumer: | ||||||||||||||||||||||||||||||||
One-to-four family | 16 | $ | 3,684 | $ | 3,568 | 13 | $ | 1,169 | $ | 1,178 | ||||||||||||||||||||||
Home equity lines of credit | 4 | 155 | 121 | 2 | 42 | 4 | ||||||||||||||||||||||||||
Construction and land/lots | 1 | 106 | 103 | 2 | 787 | 773 | ||||||||||||||||||||||||||
Commercial: | ||||||||||||||||||||||||||||||||
Construction and land development | 2 | 173 | 172 | — | — | — | ||||||||||||||||||||||||||
Total | 23 | $ | 4,118 | $ | 3,964 | 17 | $ | 1,998 | $ | 1,955 | ||||||||||||||||||||||
Total | 35 | $ | 5,204 | $ | 5,107 | 24 | $ | 2,535 | $ | 2,481 | ||||||||||||||||||||||
Schedule of Troubled Debt Restructurings With Payment Default | 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 and nine months ended March 31, 2015 and 2014: | |||||||||||||||||||||||||||||||
Three Months Ended March 31, 2015 | Three Months Ended March 31, 2014 | |||||||||||||||||||||||||||||||
Number of | Recorded | Number of | Recorded | |||||||||||||||||||||||||||||
Loans | Investment | Loans | Investment | |||||||||||||||||||||||||||||
Below market interest rate: | ||||||||||||||||||||||||||||||||
Retail consumer: | ||||||||||||||||||||||||||||||||
One-to-four family | 2 | $ | 380 | — | $ | — | ||||||||||||||||||||||||||
Total | 2 | $ | 380 | — | $ | — | ||||||||||||||||||||||||||
Extended payment terms: | — | $ | — | — | $ | — | ||||||||||||||||||||||||||
Total | — | $ | — | — | $ | — | ||||||||||||||||||||||||||
Other TDRs: | ||||||||||||||||||||||||||||||||
Retail consumer: | ||||||||||||||||||||||||||||||||
One-to-four family | 2 | $ | 716 | 2 | $ | 166 | ||||||||||||||||||||||||||
Home equity lines of credit | 2 | 9 | — | — | ||||||||||||||||||||||||||||
Total | 4 | $ | 725 | 2 | $ | 166 | ||||||||||||||||||||||||||
Total | 6 | $ | 1,105 | 2 | $ | 166 | ||||||||||||||||||||||||||
Nine Months Ended March 31, 2015 | Nine Months Ended March 31, 2014 | |||||||||||||||||||||||||||||||
Number of | Recorded | Number of | Recorded | |||||||||||||||||||||||||||||
Loans | Investment | Loans | Investment | |||||||||||||||||||||||||||||
Below market interest rate: | ||||||||||||||||||||||||||||||||
Retail consumer: | ||||||||||||||||||||||||||||||||
One-to-four family | 2 | $ | 380 | — | $ | — | ||||||||||||||||||||||||||
Total | 2 | $ | 380 | — | $ | — | ||||||||||||||||||||||||||
Extended payment terms: | ||||||||||||||||||||||||||||||||
Home equity lines of credit | — | $ | — | 1 | $ | 250 | ||||||||||||||||||||||||||
Total | — | $ | — | 1 | $ | 250 | ||||||||||||||||||||||||||
Other TDRs: | ||||||||||||||||||||||||||||||||
Retail consumer: | ||||||||||||||||||||||||||||||||
One-to-four family | 10 | $ | 1,116 | 4 | $ | 422 | ||||||||||||||||||||||||||
Home equity lines of credit | 2 | 9 | 1 | 120 | ||||||||||||||||||||||||||||
Construction and land/lots | 1 | 172 | — | — | ||||||||||||||||||||||||||||
Total | 13 | $ | 1,297 | 5 | $ | 542 | ||||||||||||||||||||||||||
Total | 15 | $ | 1,677 | 6 | $ | 792 | ||||||||||||||||||||||||||
Net_Income_Per_Share_Tables
Net Income Per Share (Tables) | 9 Months Ended | |||||||||||||||
Mar. 31, 2015 | ||||||||||||||||
Earnings Per Share [Abstract] | ||||||||||||||||
Schedule of Earnings Per Share, Basic and Diluted | The following is a reconciliation of the numerator and denominator of basic and diluted net income per share of common stock: | |||||||||||||||
Three Months Ended March 31, | Nine Months Ended March 31, | |||||||||||||||
2015 | 2014 | 2015 | 2014 | |||||||||||||
Numerator: | ||||||||||||||||
Net income available to common stockholders | $ | 1,162 | $ | 2,606 | $ | 5,467 | $ | 8,809 | ||||||||
Denominator: | ||||||||||||||||
Weighted-average common shares outstanding - basic | 19,113,387 | 18,302,672 | 19,146,025 | 18,724,242 | ||||||||||||
Effect of dilutive shares | 79,315 | 75,487 | 86,766 | 91,174 | ||||||||||||
Weighted-average common shares outstanding - diluted | 19,192,702 | 18,378,159 | 19,232,791 | 18,815,416 | ||||||||||||
Net income per share - basic | $ | 0.06 | $ | 0.14 | $ | 0.28 | $ | 0.46 | ||||||||
Net income per share - diluted | $ | 0.06 | $ | 0.14 | $ | 0.28 | $ | 0.46 | ||||||||
Equity_Incentive_Plan_Tables
Equity Incentive Plan (Tables) | 9 Months Ended | ||||||||||||||
Mar. 31, 2015 | |||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||||||||||||||
Equity Incentive Plan Stock Option Activity | The table below presents stock option activity for the nine months ended March 31, 2015 and 2014: | ||||||||||||||
Options | Weighted- | Remaining | Aggregate | ||||||||||||
average | contractual | Intrinsic | |||||||||||||
exercise | life | Value | |||||||||||||
price | (years) | ||||||||||||||
Options outstanding at June 30, 2013 | 1,557,000 | $ | 14.37 | 9.6 | $ | 4,033 | |||||||||
Granted | 30,000 | 15.83 | 10 | — | |||||||||||
Exercised | — | — | — | — | |||||||||||
Forfeited | 1,500 | 14.37 | — | — | |||||||||||
Expired | — | — | — | — | |||||||||||
Options outstanding at March 31, 2014 | 1,585,500 | $ | 14.4 | 8.9 | $ | 2,193 | |||||||||
Exercisable at March 31, 2014 | 290,175 | $ | 14.37 | ||||||||||||
Options outstanding at June 30, 2014 | 1,513,500 | $ | 14.4 | 8.6 | $ | 2,077 | |||||||||
Granted | 10,000 | 16.08 | 10 | — | |||||||||||
Exercised | 18,000 | 14.37 | — | — | |||||||||||
Forfeited | 5,400 | 14.37 | — | — | |||||||||||
Expired | — | — | — | — | |||||||||||
Options outstanding at March 31, 2015 | $ | 1,500,100 | $ | 14.4 | 7.9 | $ | 2,340 | ||||||||
Exercisable at March 31, 2015 | 549,150 | $ | 14.39 | ||||||||||||
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions | Assumptions used for grants were as follows: | ||||||||||||||
Assumptions in Estimating Option Values | |||||||||||||||
2015 | 2014 | 2013 | |||||||||||||
Weighted-average volatility | 18.9 | % | 28.19 | % | 28.19 | % | |||||||||
Expected dividend yield | — | % | — | % | — | % | |||||||||
Risk-free interest rate | 1.56 | % | 2.04 | % | 1.28 | % | |||||||||
Expected life (years) | 6 | 6.5 | 6.6 | ||||||||||||
Schedule of Nonvested Restricted Stock Units Activity | The table below presents restricted stock award activity for the nine months ended March 31, 2015 and 2014: | ||||||||||||||
Restricted | Weighted- | Aggregate | |||||||||||||
stock awards | average grant | Intrinsic | |||||||||||||
date fair value | Value | ||||||||||||||
Non-vested at June 30, 2013 | 511,300 | $ | 14.37 | $ | 8,672 | ||||||||||
Granted | 7,050 | 15.8 | — | ||||||||||||
Vested | 95,485 | 14.37 | — | ||||||||||||
Forfeited | — | — | — | ||||||||||||
Non-vested at March 31, 2014 | 422,865 | $ | 14.39 | $ | 6,673 | ||||||||||
Non-vested at June 30, 2014 | 403,965 | $ | 14.39 | $ | 6,371 | ||||||||||
Granted | — | — | — | ||||||||||||
Vested | 91,895 | 14.39 | — | ||||||||||||
Forfeited | 1,600 | 14.37 | — | ||||||||||||
Non-vested at March 31, 2015 | 310,470 | $ | 14.4 | $ | 4,958 | ||||||||||
Fair_Value_of_Financial_Instru1
Fair Value of Financial Instruments (Tables) | 9 Months Ended | |||||||||||||||||||
Mar. 31, 2015 | ||||||||||||||||||||
Fair Value Disclosures [Abstract] | ||||||||||||||||||||
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: | |||||||||||||||||||
March 31, 2015 | ||||||||||||||||||||
Description | Total | Level 1 | Level 2 | Level 3 | ||||||||||||||||
U.S Government Agencies | $ | 88,117 | $ | — | $ | 88,117 | $ | — | ||||||||||||
Residential Mortgage-backed Securities of U.S. Government Agencies and Government Sponsored Enterprises | 121,284 | — | 121,284 | — | ||||||||||||||||
Municipal Bonds | 17,002 | — | 17,002 | — | ||||||||||||||||
Corporate Bonds | 4,046 | — | 3,046 | 1,000 | ||||||||||||||||
Equity Securities | 63 | — | 63 | — | ||||||||||||||||
Total | $ | 230,512 | $ | — | $ | 229,512 | $ | 1,000 | ||||||||||||
June 30, 2014 | ||||||||||||||||||||
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 | $ | — | ||||||||||||
Fair Value Measurements, Nonrecurring | The following table presents financial assets measured at fair value on a non-recurring basis during the periods indicated: | |||||||||||||||||||
Nine Months Ended March 31, 2015 | ||||||||||||||||||||
Description | Total | Level 1 | Level 2 | Level 3 | ||||||||||||||||
Impaired loans | $ | 5,319 | $ | — | $ | — | $ | 5,319 | ||||||||||||
REO | 1,185 | — | — | 1,185 | ||||||||||||||||
Total | $ | 6,504 | $ | — | $ | — | $ | 6,504 | ||||||||||||
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 | ||||||||||||
Schedule of Quantitative Information About Level 3 Fair Value Measurements | Quantitative information about Level 3 fair value measurements during the period ended March 31, 2015 is shown in the table below: | |||||||||||||||||||
Fair Value at March 31, 2015 | Valuation | Unobservable | Range | Weighted | ||||||||||||||||
Techniques | Input | Average | ||||||||||||||||||
Nonrecurring measurements: | ||||||||||||||||||||
Impaired loans, net | $ | 5,319 | Discounted appraisals | Collateral discounts | 3% - 60% | 15% | ||||||||||||||
REO | $ | 1,185 | Discounted appraisals | Collateral discounts | 10% - 15% | 14% | ||||||||||||||
Fair Value, by Balance Sheet Grouping | ||||||||||||||||||||
Fair Value at March 31, 2015 | Valuation | Unobservable | Range | Weighted | ||||||||||||||||
Techniques | Input | Average | ||||||||||||||||||
Nonrecurring measurements: | ||||||||||||||||||||
Impaired loans, net | $ | 5,319 | Discounted appraisals | Collateral discounts | 3% - 60% | 15% | ||||||||||||||
REO | $ | 1,185 | Discounted appraisals | Collateral discounts | 10% - 15% | 14% | ||||||||||||||
The stated carrying value and estimated fair value amounts of financial instruments as of March 31, 2015 and June 30, 2014, are summarized below: | ||||||||||||||||||||
March 31, 2015 | ||||||||||||||||||||
Carrying | Fair | Level 1 | Level 2 | Level 3 | ||||||||||||||||
Value | Value | |||||||||||||||||||
Cash and interest-bearing deposits | $ | 294,659 | $ | 294,659 | $ | 294,659 | $ | — | $ | — | ||||||||||
Certificates of deposit in other banks | 204,596 | 204,596 | — | 204,596 | — | |||||||||||||||
Securities available for sale | 230,512 | 230,512 | — | 229,512 | 1,000 | |||||||||||||||
Other investments | 19,142 | 19,142 | 19,142 | — | — | |||||||||||||||
Loans held for sale | 2,225 | 2,261 | — | — | 2,261 | |||||||||||||||
Loans, net | 1,618,376 | 1,524,874 | — | — | 1,524,874 | |||||||||||||||
Accrued interest receivable | 7,249 | 7,249 | — | 1,095 | 6,154 | |||||||||||||||
Non-interest-bearing and NOW deposits | 592,338 | 592,338 | — | 592,338 | — | |||||||||||||||
Money market accounts | 489,606 | 489,606 | — | 489,606 | — | |||||||||||||||
Savings accounts | 223,748 | 223,748 | — | 223,748 | — | |||||||||||||||
Certificates of deposit | 608,081 | 607,650 | — | 607,650 | — | |||||||||||||||
Other borrowings | 250,000 | 250,000 | — | 250,000 | — | |||||||||||||||
Accrued interest payable | 146 | 146 | — | 146 | — | |||||||||||||||
June 30, 2014 | ||||||||||||||||||||
Carrying | Fair | Level 1 | Level 2 | Level 3 | ||||||||||||||||
Value | Value | |||||||||||||||||||
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 | — | |||||||||||||||
Business_Combinations_Schedule
Business Combinations - Schedule of Business Acquisition Contingent Consideration - Bank of America (Details) (USD $) | Mar. 31, 2015 | Jun. 30, 2014 | Nov. 14, 2014 |
In Thousands, unless otherwise specified | |||
Liabilities | |||
Goodwill | $13,768 | $9,815 | |
Bank of America | As Recorded By Bank of America | |||
Assets | |||
Cash and cash equivalents | 320,673 | ||
Loans, net of allowance | 1,045 | ||
Premises and equipment, net | 6,303 | ||
Accrued interest receivable | 3 | ||
Total assets acquired | 328,024 | ||
Liabilities | |||
Deposits | 328,007 | ||
Other liabilities | 17 | ||
Total liabilities assumed | 328,024 | ||
Bank of America | Fair Value and Other Merger Related Adjustments | |||
Assets | |||
Cash and cash equivalents | 0 | ||
Loans, net of allowance | 0 | ||
Premises and equipment, net | 2,690 | ||
Deferred income taxes | 353 | ||
Core deposit intangibles | 8,156 | ||
Total assets acquired | 11,199 | ||
Liabilities | |||
Deposits | 1,394 | ||
Total liabilities assumed | 1,394 | ||
Net identifiable assets acquired over liabilities assumed | 9,805 | ||
Bank of America | As Recorded by the Company | |||
Consideration Paid | |||
Cash paid as deposit premium | 9,805 | ||
Total consideration | 9,805 | ||
Assets | |||
Cash and cash equivalents | 320,673 | ||
Loans, net of allowance | 1,045 | ||
Premises and equipment, net | 8,993 | ||
Accrued interest receivable | 3 | ||
Deferred income taxes | 353 | ||
Core deposit intangibles | 8,156 | ||
Total assets acquired | 339,223 | ||
Liabilities | |||
Deposits | 329,401 | ||
Other liabilities | 17 | ||
Total liabilities assumed | 329,418 | ||
Net identifiable assets acquired over liabilities assumed | 9,805 | ||
Goodwill | $0 |
Business_Combinations_Schedule1
Business Combinations - Schedule of Business Acquisition Contingent Consideration -- Bank of Commerce (Details) (Bank of Commerce, USD $) | Aug. 01, 2014 |
In Thousands, unless otherwise specified | |
As Recorded By Bank Of Commerce | |
Assets | |
Cash and cash equivalents | $2,241 |
Securities available for sale | 24,228 |
Loans, net of allowance | 89,339 |
FHLB Stock | 791 |
REO | 224 |
Premises and equipment, net | 135 |
Accrued interest receivable | 355 |
Deferred income taxes | 286 |
Other assets | 4,931 |
Total assets acquired | 122,530 |
Liabilities | |
Deposits | 93,303 |
Other borrowings | 15,000 |
Other liabilities | 6,369 |
Total liabilities assumed | 114,672 |
Net identifiable assets acquired over liabilities assumed | 7,858 |
Fair Value and Other Merger Related Adjustments | |
Assets | |
Loans, net of allowance | -3,131 |
Accrued interest receivable | -100 |
Deferred income taxes | 1,064 |
Core deposit intangibles | 640 |
Total assets acquired | -1,527 |
Liabilities | |
Deposits | 112 |
Other borrowings | 172 |
Total liabilities assumed | 284 |
Net identifiable assets acquired over liabilities assumed | -1,811 |
As Recorded by the Company | |
Consideration Paid | |
Cash paid as deposit premium | 10,000 |
Total consideration | 10,000 |
Assets | |
Cash and cash equivalents | 2,241 |
Securities available for sale | 24,228 |
Loans, net of allowance | 86,208 |
FHLB Stock | 791 |
REO | 224 |
Premises and equipment, net | 135 |
Accrued interest receivable | 255 |
Deferred income taxes | 1,350 |
Core deposit intangibles | 640 |
Other assets | 4,931 |
Total assets acquired | 121,003 |
Liabilities | |
Deposits | 93,415 |
Other borrowings | 15,172 |
Other liabilities | 6,369 |
Total liabilities assumed | 114,956 |
Net identifiable assets acquired over liabilities assumed | 6,047 |
Goodwill | $3,953 |
Business_Combinations_Schedule2
Business Combinations - Schedule of Purchased Performing Loans and Purchased Impaired Loans Acquired in Transfer -- Bank of Commerce (Details) (Bank of Commerce, USD $) | Aug. 01, 2014 |
In Thousands, unless otherwise specified | |
Total | |
Business Acquisition [Line Items] | |
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 | One-to-four family | |
Business Acquisition [Line Items] | |
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 lines of credit | |
Business Acquisition [Line Items] | |
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 | |
Business Acquisition [Line Items] | |
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 [Line Items] | |
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 and development | |
Business Acquisition [Line Items] | |
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 | |
Business Acquisition [Line Items] | |
Business Acquisition Performing Loans Purchased | 5,402 |
Business Acquisition Credit-Impaired Loans Purchased | 3,877 |
Business Acquisition Performing and Impaired Loans Purchased | $9,279 |
Business_Combinations_Schedule3
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 | |
Assets | |
Cash and cash equivalents | $18,325 |
Securities available for sale | 85,744 |
Loans, net of allowance | 338,616 |
FHLB Stock | 4,635 |
REO | 3,288 |
Premises and equipment, net | 24,662 |
Accrued interest receivable | 1,367 |
Deferred income taxes | 9,606 |
Core deposit intangibles | 847 |
Other assets | 7,171 |
Total assets acquired | 494,261 |
Liabilities | |
Deposits | 376,985 |
Other borrowings | 55,081 |
Subordinated debentures | 7,460 |
Other liabilities | 2,332 |
Total liabilities assumed | 441,858 |
Net identifiable assets acquired over liabilities assumed | 52,403 |
Fair Value and Other Merger Related Adjustments | |
Assets | |
Securities available for sale | -700 |
Loans, net of allowance | -9,134 |
Premises and equipment, net | -1,311 |
Accrued interest receivable | -90 |
Deferred income taxes | 3,395 |
Core deposit intangibles | 2,683 |
Total assets acquired | -5,157 |
Liabilities | |
Deposits | 371 |
Other borrowings | 858 |
Subordinated debentures | 2,540 |
Total liabilities assumed | 3,769 |
Net identifiable assets acquired over liabilities assumed | -8,926 |
As Recorded by the Company | |
Consideration Paid | |
Cash paid as deposit premium | 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 |
Securities available for sale | 85,044 |
Loans, net of allowance | 329,482 |
FHLB Stock | 4,635 |
REO | 3,288 |
Premises and equipment, net | 23,351 |
Accrued interest receivable | 1,277 |
Deferred income taxes | 13,001 |
Core deposit intangibles | 3,530 |
Other assets | 7,171 |
Total assets acquired | 489,104 |
Liabilities | |
Deposits | 377,356 |
Other borrowings | 55,939 |
Subordinated debentures | 10,000 |
Other liabilities | 2,332 |
Total liabilities assumed | 445,627 |
Net identifiable assets acquired over liabilities assumed | 43,477 |
Goodwill | $7,013 |
Business_Combinations_Schedule4
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 | One-to-four family | |
Business Acquisition [Line Items] | |
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 lines of credit | |
Business Acquisition [Line Items] | |
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 | |
Business Acquisition [Line Items] | |
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 | |
Business Acquisition [Line Items] | |
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 [Line Items] | |
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 | |
Business Acquisition [Line Items] | |
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 | |
Business Acquisition [Line Items] | |
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 | |
Business Acquisition [Line Items] | |
Business Acquisition Performing Loans Purchased | 299,461 |
Business Acquisition Credit-Impaired Loans Purchased | 30,021 |
Business Acquisition Performing and Impaired Loans Purchased | $329,482 |
Business_Combinations_Schedule5
Business Combinations - Schedule of Business Acquisition, Contingent Consideration -- BankGreenville (Details) (BankGreenville, USD $) | Jul. 31, 2013 |
In Thousands, unless otherwise specified | |
As Recorded by BankGreenville | |
Assets | |
Cash and cash equivalents | $10,348 |
Securities available for sale | 34,345 |
Loans, net of allowance | 51,622 |
FHLB Stock | 447 |
REO | 2,317 |
Premises and equipment, net | 2,458 |
Accrued interest receivable | 429 |
Other assets | 214 |
Total assets acquired | 102,180 |
Liabilities | |
Deposits | 88,906 |
Other borrowings | 4,700 |
Other liabilities | 511 |
Total liabilities assumed | 94,117 |
Net identifiable assets acquired over liabilities assumed | 8,063 |
Fair Value and Other Merger Related Adjustments | |
Assets | |
Loans, net of allowance | -3,792 |
REO | -168 |
Premises and equipment, net | -117 |
Deferred tax asset | 2,470 |
Core deposit intangibles | 530 |
Total assets acquired | -1,077 |
Liabilities | |
Deposits | 201 |
Other borrowings | 34 |
Total liabilities assumed | 235 |
Net identifiable assets acquired over liabilities assumed | -1,312 |
As Recorded by the Company | |
Consideration Paid | |
Cash paid as deposit premium | 7,823 |
Repayment of BankGreenville preferred stock | 1,050 |
Contingent cash consideration | 680 |
Total consideration | 9,553 |
Assets | |
Cash and cash equivalents | 10,348 |
Securities available for sale | 34,345 |
Loans, net of allowance | 47,830 |
FHLB Stock | 447 |
REO | 2,149 |
Premises and equipment, net | 2,341 |
Accrued interest receivable | 429 |
Deferred tax asset | 2,470 |
Other assets | 214 |
Core deposit intangibles | 530 |
Total assets acquired | 101,103 |
Liabilities | |
Deposits | 89,107 |
Other borrowings | 4,734 |
Other liabilities | 511 |
Total liabilities assumed | 94,352 |
Net identifiable assets acquired over liabilities assumed | 6,751 |
Goodwill | $2,802 |
Business_Combinations_Schedule6
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 | |
Business Acquisition [Line Items] | |
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 | One-to-four family | |
Business Acquisition [Line Items] | |
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 lines of credit | |
Business Acquisition [Line Items] | |
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 | |
Business Acquisition [Line Items] | |
Business Acquisition Performing Loans Purchased | 522 |
Business Acquisition Performing and Impaired Loans Purchased | 522 |
Commercial Loan | Commercial real estate | |
Business Acquisition [Line Items] | |
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 | |
Business Acquisition [Line Items] | |
Business Acquisition Performing Loans Purchased | 2,367 |
Business Acquisition Credit-Impaired Loans Purchased | 3,529 |
Business Acquisition Performing and Impaired Loans Purchased | $5,896 |
Business_Combinations_Schedule7
Business Combinations - Schedule of Financial Impact of Acquisition (Details) (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Business Combinations [Abstract] | ||
Total revenues, Actual | $67,879 | |
Total revenues, Pro Forma | 72,183 | 71,341 |
Net income, Actual | 5,467 | |
Net income, Pro Forma | $8,194 | $12,542 |
Business_Combinations_Narrativ
Business Combinations - Narrative (Details) (USD $) | 0 Months Ended | ||||||
In Thousands, except Share data, unless otherwise specified | Jul. 31, 2013 | Nov. 14, 2014 | 31-May-14 | Mar. 31, 2015 | Jun. 30, 2014 | Aug. 01, 2014 | Jul. 31, 2014 |
Business Acquisition [Line Items] | |||||||
Loans, net | $1,618,376 | $1,473,099 | |||||
BankGreenville | |||||||
Business Acquisition [Line Items] | |||||||
Book value of assets acquired | 102,180 | ||||||
Book value of liabilities assumed | 94,117 | ||||||
Goodwill | 2,802 | ||||||
Cash paid to shareholders (in dollars per share) | $6.63 | ||||||
Contingent consideration per share | $0.75 | ||||||
Contingent consideration, liability | 883 | ||||||
Contingent liability, performance period | 24 months | ||||||
Loans, net | 8,000 | ||||||
Bank of America | |||||||
Business Acquisition [Line Items] | |||||||
Deposit premium (as a percent) | 2.86% | ||||||
Deposit premium period | 30 days | ||||||
Bank of Commerce | |||||||
Business Acquisition [Line Items] | |||||||
Book value of assets acquired | 122,530 | ||||||
Book value of liabilities assumed | 114,672 | ||||||
Cash paid to shareholders (in dollars per share) | $6.25 | ||||||
Jefferson Bancshares | |||||||
Business Acquisition [Line Items] | |||||||
Shares issued for acquisition | 0.2661 | ||||||
Cash paid to shareholders (in dollars per share) | $4 | ||||||
Jefferson | |||||||
Business Acquisition [Line Items] | |||||||
Book value of assets acquired | 494,261 | ||||||
Book value of liabilities assumed | 441,858 | ||||||
Goodwill | 7,013 | ||||||
As Recorded by the Company | BankGreenville | |||||||
Business Acquisition [Line Items] | |||||||
Total consideration | 9,553 | ||||||
Goodwill | 2,802 | ||||||
As Recorded by the Company | Bank of America | |||||||
Business Acquisition [Line Items] | |||||||
Total consideration | 9,805 | ||||||
As Recorded by the Company | Bank of Commerce | |||||||
Business Acquisition [Line Items] | |||||||
Total consideration | 10,000 | ||||||
Goodwill | 3,953 | ||||||
As Recorded by the Company | Jefferson Bancshares | |||||||
Business Acquisition [Line Items] | |||||||
Total consideration | 50,490 | ||||||
Goodwill | $7,013 |
Securities_Available_For_Sale_1
Securities Available For Sale - Available for Sale Securities Table (Details) (USD $) | Mar. 31, 2015 | Jun. 30, 2014 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | $227,748 | $168,378 |
Gross Unrealized Gains | 2,926 | 833 |
Gross Unrealized Losses | -162 | -462 |
Estimated Fair Value | 230,512 | 168,749 |
U.S. Government Agencies | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 87,263 | 38,085 |
Gross Unrealized Gains | 854 | 45 |
Gross Unrealized Losses | 0 | -37 |
Estimated Fair Value | 88,117 | 38,093 |
Government Agencies and Government Sponsored Enterprises | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 120,101 | 111,430 |
Gross Unrealized Gains | 1,313 | 393 |
Gross Unrealized Losses | -130 | -412 |
Estimated Fair Value | 121,284 | 111,411 |
Municipal Bonds | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 16,426 | 15,951 |
Gross Unrealized Gains | 608 | 282 |
Gross Unrealized Losses | -32 | -13 |
Estimated Fair Value | 17,002 | 16,220 |
Corporate Bond Securities | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 3,895 | 2,912 |
Gross Unrealized Gains | 151 | 113 |
Gross Unrealized Losses | 0 | 0 |
Estimated Fair Value | 4,046 | 3,025 |
Equity Securities | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 63 | |
Gross Unrealized Gains | 0 | |
Gross Unrealized Losses | 0 | |
Estimated Fair Value | $63 |
Securities_Available_For_Sale_2
Securities Available For Sale - Schedule of Investments Classified by Contractual Maturity Date (Details) (USD $) | Mar. 31, 2015 |
In Thousands, unless otherwise specified | |
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Amortized Cost Basis [Abstract] | |
Due within one year | $1,001 |
Due after one year through five years | 69,225 |
Due after five years through ten years | 33,579 |
Due after ten years | 3,779 |
Total | 227,685 |
Available-for-sale Securities, Debt Maturities, Single Maturity Date [Abstract] | |
Due within one year | 1,001 |
Due after one year through five years | 69,502 |
Due after five years through ten years | 34,706 |
Due after ten years | 3,956 |
Total | 230,449 |
Government Agencies and Government Sponsored Enterprises | |
Available-for-sale Securities, Debt Maturities, Single Maturity Date, Amortized Cost Basis [Abstract] | |
Total | 120,101 |
Available-for-sale Securities, Debt Maturities, Single Maturity Date [Abstract] | |
Total | $121,284 |
Securities_Available_For_Sale_3
Securities Available For Sale - Narrative (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2015 | Mar. 31, 2014 | Jun. 30, 2014 |
security | security | |||
Investments, Debt and Equity Securities [Abstract] | ||||
Proceeds from sale of securities available for sale | $10,387 | $2,086 | ||
Gain on sale of securities available for sale | 42 | 74 | ||
Available-for-sale securities, gross realized losses | 13 | 32 | ||
Available-for-sale securities pledged as collateral | 153,590 | 51,036 | ||
Securities available for sale pledged as collateral market value | $155,285 | $51,297 | ||
Number of securities with unrealized losses | 48 | 159 |
Securities_Available_For_Sale_4
Securities Available For Sale- Available for Sale Securities Continuous Unrealized Loss Position Fair Value (Details) (USD $) | Mar. 31, 2015 | Jun. 30, 2014 |
In Thousands, unless otherwise specified | ||
U.S. Government Agencies | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Abstract] | ||
Less than 12 Months, Fair Value | $0 | $19,475 |
12 Months or More, Fair Value | 0 | 0 |
Total, Fair Value | 0 | 19,475 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss [Abstract] | ||
Less than 12 Months, Unrealized Losses | 0 | -37 |
12 Months or More, Unrealized Losses | 0 | 0 |
Total, Unrealized Losses | 0 | -37 |
Government Agencies and Government Sponsored Enterprises | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Abstract] | ||
Less than 12 Months, Fair Value | 12,404 | 75,761 |
12 Months or More, Fair Value | 5,263 | 162 |
Total, Fair Value | 17,667 | 75,923 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss [Abstract] | ||
Less than 12 Months, Unrealized Losses | -43 | -399 |
12 Months or More, Unrealized Losses | -87 | -13 |
Total, Unrealized Losses | -130 | -412 |
Municipal Bonds | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Abstract] | ||
Less than 12 Months, Fair Value | 2,594 | 6,668 |
12 Months or More, Fair Value | 0 | 0 |
Total, Fair Value | 2,594 | 6,668 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss [Abstract] | ||
Less than 12 Months, Unrealized Losses | -32 | -13 |
12 Months or More, Unrealized Losses | 0 | 0 |
Total, Unrealized Losses | -32 | -13 |
Available For Sale Securities Continuous Unrealized Loss Position | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Abstract] | ||
Less than 12 Months, Fair Value | 14,998 | 101,904 |
12 Months or More, Fair Value | 5,263 | 162 |
Total, Fair Value | 20,261 | 102,066 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss [Abstract] | ||
Less than 12 Months, Unrealized Losses | -75 | -449 |
12 Months or More, Unrealized Losses | -87 | -13 |
Total, Unrealized Losses | ($162) | ($462) |
Loans_Schedule_of_Accounts_Not
Loans - Schedule of Accounts, Notes, Loans and Financing Receivable (Details) (USD $) | Mar. 31, 2015 | Jun. 30, 2014 |
In Thousands, unless otherwise specified | ||
Total loans | $1,641,482 | $1,497,868 |
Deferred loan fees, net | -425 | -1,340 |
Total loans, net of deferred loan fees and discount | 1,641,057 | 1,496,528 |
Allowance for loan and lease losses | -22,681 | -23,429 |
Loans, net | 1,618,376 | 1,473,099 |
Retail consumer loans | ||
One-to-four family | 651,588 | 660,200 |
Home equity lines of credit | 198,717 | 148,379 |
Construction and land/lots | 48,248 | 59,249 |
Indirect auto finance | 32,230 | 8,833 |
Consumer | 4,135 | 6,331 |
Total retail consumer loans | 934,918 | 882,992 |
Commercial Loan | ||
Commercial real estate | 452,431 | 377,769 |
Construction and development | 58,989 | 56,457 |
Commercial and industrial | 88,451 | 74,435 |
Municipal leases | 106,693 | 106,215 |
Total commercial loans | 706,564 | 614,876 |
Allowance for loan and lease losses | ($22,681) | ($23,429) |
Loans_NonPurchased_Purchased_P
Loans - Non-Purchased, Purchased Performing Loans, PCI Loans by Segment, Class and Risk Grade (Details) (USD $) | Mar. 31, 2015 | Jun. 30, 2014 |
In Thousands, unless otherwise specified | ||
Retail consumer loans | ||
One-to-four family | $651,588 | $660,200 |
Home equity lines of credit | 198,717 | 148,379 |
Construction and land/lots | 48,248 | 59,249 |
Indirect auto finance | 32,230 | 8,833 |
Consumer | 4,135 | 6,331 |
Commercial Loan | ||
Commercial real estate | 452,431 | 377,769 |
Construction and development | 58,989 | 56,457 |
Commercial and industrial | 88,451 | 74,435 |
Municipal leases | 106,693 | 106,215 |
Non-purchased and purchased performing loans | ||
Total loans | 1,578,536 | 1,451,394 |
Non-purchased and purchased performing loans | Retail consumer loans | ||
One-to-four family | 642,095 | 651,939 |
Home equity lines of credit | 198,349 | 148,002 |
Construction and land/lots | 47,382 | 58,172 |
Indirect auto finance | 32,230 | 8,833 |
Consumer | 4,122 | 6,290 |
Non-purchased and purchased performing loans | Commercial Loan | ||
Commercial real estate | 412,502 | 352,058 |
Construction and development | 53,051 | 50,805 |
Commercial and industrial | 82,112 | 69,080 |
Municipal leases | 106,693 | 106,215 |
Non-purchased and purchased performing loans | Pass | ||
Total loans | 1,474,992 | 1,339,365 |
Non-purchased and purchased performing loans | Pass | Retail consumer loans | ||
One-to-four family | 593,246 | 602,409 |
Home equity lines of credit | 192,665 | 141,008 |
Construction and land/lots | 44,642 | 55,374 |
Indirect auto finance | 32,185 | 8,801 |
Consumer | 3,927 | 6,115 |
Non-purchased and purchased performing loans | Pass | Commercial Loan | ||
Commercial real estate | 379,567 | 313,437 |
Construction and development | 45,076 | 41,336 |
Commercial and industrial | 79,329 | 66,481 |
Municipal leases | 104,355 | 104,404 |
Non-purchased and purchased performing loans | Special Mention | ||
Total loans | 33,801 | 43,758 |
Non-purchased and purchased performing loans | Special Mention | Retail consumer loans | ||
One-to-four family | 13,794 | 17,639 |
Home equity lines of credit | 635 | 1,605 |
Construction and land/lots | 517 | 1,878 |
Indirect auto finance | 45 | 32 |
Consumer | 78 | 62 |
Non-purchased and purchased performing loans | Special Mention | Commercial Loan | ||
Commercial real estate | 14,363 | 16,931 |
Construction and development | 2,047 | 2,927 |
Commercial and industrial | 565 | 873 |
Municipal leases | 1,757 | 1,811 |
Non-purchased and purchased performing loans | Substandard | ||
Total loans | 65,626 | 62,286 |
Non-purchased and purchased performing loans | Substandard | Retail consumer loans | ||
One-to-four family | 31,940 | 28,974 |
Home equity lines of credit | 4,542 | 4,967 |
Construction and land/lots | 2,060 | 807 |
Consumer | 97 | 97 |
Non-purchased and purchased performing loans | Substandard | Commercial Loan | ||
Commercial real estate | 18,261 | 19,746 |
Construction and development | 5,928 | 5,972 |
Commercial and industrial | 2,217 | 1,723 |
Municipal leases | 581 | |
Non-purchased and purchased performing loans | Doubtful | ||
Total loans | 4,001 | 5,967 |
Non-purchased and purchased performing loans | Doubtful | Retail consumer loans | ||
One-to-four family | 3,111 | 2,907 |
Home equity lines of credit | 407 | 420 |
Construction and land/lots | 163 | 113 |
Consumer | 9 | 13 |
Non-purchased and purchased performing loans | Doubtful | Commercial Loan | ||
Commercial real estate | 311 | 1,944 |
Construction and development | 570 | |
Non-purchased and purchased performing loans | Loss | ||
Total loans | 116 | 18 |
Non-purchased and purchased performing loans | Loss | Retail consumer loans | ||
One-to-four family | 4 | 10 |
Home equity lines of credit | 100 | 2 |
Consumer | 11 | 3 |
Non-purchased and purchased performing loans | Loss | Commercial Loan | ||
Commercial real estate | 0 | |
Construction and development | 0 | |
Commercial and industrial | 1 | 3 |
Purchased credit-impaired loans | ||
Total loans | 62,946 | 46,474 |
Purchased credit-impaired loans | Retail consumer loans | ||
One-to-four family | 9,493 | 8,261 |
Home equity lines of credit | 368 | 377 |
Construction and land/lots | 866 | 1,077 |
Consumer | 13 | 41 |
Purchased credit-impaired loans | Commercial Loan | ||
Commercial real estate | 39,929 | 25,711 |
Construction and development | 5,938 | 5,652 |
Commercial and industrial | 6,339 | 5,355 |
Purchased credit-impaired loans | Pass | ||
Total loans | 42,564 | 33,686 |
Purchased credit-impaired loans | Pass | Retail consumer loans | ||
One-to-four family | 5,643 | 4,904 |
Home equity lines of credit | 260 | 7 |
Construction and land/lots | 599 | 791 |
Consumer | 13 | 41 |
Purchased credit-impaired loans | Pass | Commercial Loan | ||
Commercial real estate | 28,725 | 20,853 |
Construction and development | 2,433 | 2,443 |
Commercial and industrial | 4,891 | 4,647 |
Purchased credit-impaired loans | Special Mention | ||
Total loans | 7,221 | 2,169 |
Purchased credit-impaired loans | Special Mention | Retail consumer loans | ||
One-to-four family | 1,222 | |
Purchased credit-impaired loans | Special Mention | Commercial Loan | ||
Commercial real estate | 5,166 | |
Construction and development | 156 | 2,169 |
Commercial and industrial | 677 | |
Purchased credit-impaired loans | Substandard | ||
Total loans | 13,104 | 10,619 |
Purchased credit-impaired loans | Substandard | Retail consumer loans | ||
One-to-four family | 2,571 | 3,357 |
Home equity lines of credit | 108 | 370 |
Construction and land/lots | 267 | 286 |
Purchased credit-impaired loans | Substandard | Commercial Loan | ||
Commercial real estate | 6,038 | 4,858 |
Construction and development | 3,349 | 1,040 |
Commercial and industrial | 771 | 708 |
Purchased credit-impaired loans | Doubtful | ||
Total loans | 57 | |
Purchased credit-impaired loans | Doubtful | Retail consumer loans | ||
One-to-four family | $57 |
Loans_Schedule_of_Past_Due_Fin
Loans - Schedule of Past Due Financing Receivables (Details) (USD $) | Mar. 31, 2015 | Jun. 30, 2014 |
In Thousands, unless otherwise specified | ||
Past Due 30-89 Days | $14,050 | $7,525 |
Past Due 90 Days or Greater | 20,252 | 20,379 |
Past Due Total | 34,302 | 27,904 |
Current | 1,607,180 | 1,469,964 |
Total Loans Receivable | 1,641,482 | 1,497,868 |
Commercial Loan | ||
Total Loans Receivable | 1,641,482 | 1,497,868 |
One-to-four family | Retail consumer loans | ||
Past Due 30-89 Days | 6,861 | 4,929 |
Past Due 90 Days or Greater | 7,289 | 8,208 |
Past Due Total | 14,150 | 13,137 |
Current | 637,438 | 647,063 |
Total Loans Receivable | 651,588 | 660,200 |
Home equity lines of credit | Retail consumer loans | ||
Past Due 30-89 Days | 931 | 400 |
Past Due 90 Days or Greater | 490 | 939 |
Past Due Total | 1,421 | 1,339 |
Current | 197,296 | 147,040 |
Total Loans Receivable | 198,717 | 148,379 |
Construction and land/lots | Retail consumer loans | ||
Past Due 30-89 Days | 48 | 508 |
Past Due 90 Days or Greater | 639 | 122 |
Past Due Total | 687 | 630 |
Current | 47,561 | 58,619 |
Total Loans Receivable | 48,248 | 59,249 |
Indirect auto finance | Retail consumer loans | ||
Past Due 30-89 Days | 0 | |
Past Due Total | 0 | |
Current | 32,230 | 8,833 |
Total Loans Receivable | 32,230 | 8,833 |
Consumer | Retail consumer loans | ||
Past Due 30-89 Days | 8 | 34 |
Past Due 90 Days or Greater | 5 | 16 |
Past Due Total | 13 | 50 |
Current | 4,122 | 6,281 |
Total Loans Receivable | 4,135 | 6,331 |
Commercial real estate | Commercial Loan | ||
Past Due 30-89 Days | 2,466 | 306 |
Past Due 90 Days or Greater | 6,431 | 6,729 |
Past Due Total | 8,897 | 7,035 |
Current | 443,534 | 370,734 |
Total Loans Receivable | 452,431 | 377,769 |
Construction and development | Commercial Loan | ||
Past Due 30-89 Days | 1,597 | 1,165 |
Past Due 90 Days or Greater | 4,213 | 3,789 |
Past Due Total | 5,810 | 4,954 |
Current | 53,179 | 51,503 |
Total Loans Receivable | 58,989 | 56,457 |
Commercial and industrial | Commercial Loan | ||
Past Due 30-89 Days | 1,102 | 183 |
Past Due 90 Days or Greater | 1,185 | 576 |
Past Due Total | 2,287 | 759 |
Current | 86,164 | 73,676 |
Total Loans Receivable | 88,451 | 74,435 |
Municipal leases | Commercial Loan | ||
Past Due 30-89 Days | 1,037 | |
Past Due 90 Days or Greater | 0 | |
Past Due Total | 1,037 | |
Current | 105,656 | 106,215 |
Total Loans Receivable | 106,693 | 106,215 |
Purchased Credit Impaired | ||
Past Due 30-89 Days | 2,912 | 1,817 |
Past Due 90 Days or Greater | $6,372 | $4,189 |
Loans_Schedule_of_Financing_Re
Loans - Schedule of Financing Receivables, Non Accrual Status (Details) (USD $) | Mar. 31, 2015 | Jun. 30, 2014 |
In Thousands, unless otherwise specified | ||
Nonaccruing | $30,893 | $37,920 |
90 Days & still accruing | 0 | 0 |
Retail consumer loans | One-to-four family | ||
Nonaccruing | 13,189 | 14,917 |
90 Days & still accruing | 0 | 0 |
Retail consumer loans | Home equity lines of credit | ||
Nonaccruing | 2,204 | 2,749 |
90 Days & still accruing | 0 | 0 |
Retail consumer loans | Construction and land/lots | ||
Nonaccruing | 633 | 443 |
90 Days & still accruing | 0 | 0 |
Retail consumer loans | Indirect auto finance | ||
Nonaccruing | 0 | 0 |
90 Days & still accruing | 0 | 0 |
Retail consumer loans | Consumer | ||
Nonaccruing | 21 | 27 |
90 Days & still accruing | 0 | 0 |
Commercial Loan | Commercial real estate | ||
Nonaccruing | 9,581 | 12,953 |
90 Days & still accruing | 0 | 0 |
Commercial Loan | Construction and development | ||
Nonaccruing | 4,046 | 5,697 |
90 Days & still accruing | 0 | 0 |
Commercial Loan | Commercial and industrial | ||
Nonaccruing | 903 | 1,134 |
90 Days & still accruing | 0 | 0 |
Commercial Loan | Municipal leases | ||
Nonaccruing | 316 | 0 |
90 Days & still accruing | $0 | $0 |
Loans_Schedule_of_Troubled_Deb
Loans - Schedule of Troubled Debt Restructurings Performing and Excluded from Nonaccruing Loans (Details) (Performing Financing Receivable, USD $) | Mar. 31, 2015 | Jun. 30, 2014 |
In Thousands, unless otherwise specified | ||
Performing Financing Receivable | ||
Performing TDRs included in impaired loans | $21,189 | $22,179 |
Loans_Allowance_for_Credit_Los
Loans - Allowance for Credit Losses on Financing Receivables Table (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Mar. 31, 2015 | Mar. 31, 2014 |
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Balance at beginning of period | $23,356 | $27,125 | $23,429 | $32,073 |
Provision for (recovery of) loan losses | -1,800 | -250 | -4,800 | |
Charge-offs | -1,667 | -655 | -3,051 | -4,318 |
Recoveries | 992 | 599 | 2,553 | 2,314 |
Balance at end of period | 22,681 | 25,269 | 22,681 | 25,269 |
Retail consumer loans | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Balance at beginning of period | 14,603 | 18,217 | 15,731 | 21,952 |
Provision for (recovery of) loan losses | 184 | -611 | -745 | -1,887 |
Charge-offs | -1,313 | -402 | -2,369 | -3,768 |
Recoveries | 101 | 113 | 958 | 1,020 |
Balance at end of period | 13,575 | 17,317 | 13,575 | 17,317 |
Commercial Loan | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Balance at beginning of period | 8,753 | 8,908 | 7,698 | 10,121 |
Provision for (recovery of) loan losses | -184 | -1,189 | 495 | -2,913 |
Charge-offs | -354 | -253 | -682 | -550 |
Recoveries | 891 | 486 | 1,595 | 1,294 |
Balance at end of period | $9,106 | $7,952 | $9,106 | $7,952 |
Loans_Schedule_of_Ending_Balan
Loans - Schedule of Ending Balances of Loans and the Related Allowance by Segment and Class (Details) (USD $) | 1 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Mar. 31, 2015 | Jun. 30, 2014 |
point | |||
Allowance for loan losses | $22,681 | $23,429 | |
Total Loans Receivable | 1,641,482 | 1,497,868 | |
Home equity lines of credit | |||
Purchase of home equity lines | 40,914 | ||
Average FICO credit score (in points) | 757 | ||
Loan to value percentage | 90.00% | ||
Retail consumer loans | One-to-four family | |||
Allowance for Loan Losses, Purchased Credit-Impaired Loans | 0 | 0 | |
Allowance for Loan Losses, Individually Evaluated for Impairment | 480 | 493 | |
Allowance for Loan Losses, Collectively Evaluated for Impairment | 8,042 | 10,034 | |
Allowance for loan losses | 8,522 | 10,527 | |
Purchased Credit-Impaired Loans | 9,493 | 8,261 | |
Loans individually evaluated for impairment | 24,438 | 23,929 | |
Loans Collectively Evaluated | 617,657 | 628,010 | |
Total Loans Receivable | 651,588 | 660,200 | |
Retail consumer loans | Home equity lines of credit | |||
Allowance for Loan Losses, Purchased Credit-Impaired Loans | 0 | 0 | |
Allowance for Loan Losses, Individually Evaluated for Impairment | 407 | 134 | |
Allowance for Loan Losses, Collectively Evaluated for Impairment | 1,897 | 2,353 | |
Allowance for loan losses | 2,304 | 2,487 | |
Purchased Credit-Impaired Loans | 368 | 377 | |
Loans individually evaluated for impairment | 2,724 | 3,014 | |
Loans Collectively Evaluated | 195,625 | 144,988 | |
Total Loans Receivable | 198,717 | 148,379 | |
Retail consumer loans | Construction and land/lots | |||
Allowance for Loan Losses, Purchased Credit-Impaired Loans | 0 | 0 | |
Allowance for Loan Losses, Individually Evaluated for Impairment | 573 | 379 | |
Allowance for Loan Losses, Collectively Evaluated for Impairment | 1,636 | 2,041 | |
Allowance for loan losses | 2,209 | 2,420 | |
Purchased Credit-Impaired Loans | 866 | 1,077 | |
Loans individually evaluated for impairment | 2,129 | 1,735 | |
Loans Collectively Evaluated | 45,253 | 56,437 | |
Total Loans Receivable | 48,248 | 59,249 | |
Retail consumer loans | Indirect auto finance | |||
Allowance for Loan Losses, Collectively Evaluated for Impairment | 438 | 113 | |
Allowance for loan losses | 438 | 113 | |
Loans Collectively Evaluated | 32,230 | 8,833 | |
Total Loans Receivable | 32,230 | 8,833 | |
Retail consumer loans | Consumer | |||
Allowance for Loan Losses, Purchased Credit-Impaired Loans | 0 | 0 | |
Allowance for Loan Losses, Individually Evaluated for Impairment | 11 | 3 | |
Allowance for Loan Losses, Collectively Evaluated for Impairment | 91 | 181 | |
Allowance for loan losses | 102 | 184 | |
Purchased Credit-Impaired Loans | 13 | 41 | |
Loans individually evaluated for impairment | 17 | 10 | |
Loans Collectively Evaluated | 4,105 | 6,280 | |
Total Loans Receivable | 4,135 | 6,331 | |
Commercial Loan | |||
Allowance for Loan Losses, Purchased Credit-Impaired Loans | 0 | 0 | |
Allowance for Loan Losses, Individually Evaluated for Impairment | 1,944 | 1,064 | |
Allowance for Loan Losses, Collectively Evaluated for Impairment | 20,737 | 22,365 | |
Allowance for loan losses | 22,681 | 23,429 | |
Purchased Credit-Impaired Loans | 62,946 | 46,474 | |
Loans individually evaluated for impairment | 53,469 | 50,421 | |
Loans Collectively Evaluated | 1,525,067 | 1,400,973 | |
Total Loans Receivable | 1,641,482 | 1,497,868 | |
Commercial Loan | Commercial real estate | |||
Allowance for Loan Losses, Purchased Credit-Impaired Loans | 0 | 0 | |
Allowance for Loan Losses, Individually Evaluated for Impairment | 60 | 26 | |
Allowance for Loan Losses, Collectively Evaluated for Impairment | 5,736 | 5,413 | |
Allowance for loan losses | 5,796 | 5,439 | |
Purchased Credit-Impaired Loans | 39,929 | 25,711 | |
Loans individually evaluated for impairment | 15,650 | 13,784 | |
Loans Collectively Evaluated | 396,852 | 338,274 | |
Total Loans Receivable | 452,431 | 377,769 | |
Commercial Loan | Construction and development | |||
Allowance for Loan Losses, Purchased Credit-Impaired Loans | 0 | 0 | |
Allowance for Loan Losses, Individually Evaluated for Impairment | 412 | 26 | |
Allowance for Loan Losses, Collectively Evaluated for Impairment | 1,475 | 1,215 | |
Allowance for loan losses | 1,887 | 1,241 | |
Purchased Credit-Impaired Loans | 5,938 | 5,652 | |
Loans individually evaluated for impairment | 6,022 | 5,571 | |
Loans Collectively Evaluated | 47,029 | 45,234 | |
Total Loans Receivable | 58,989 | 56,457 | |
Commercial Loan | Commercial and industrial | |||
Allowance for Loan Losses, Purchased Credit-Impaired Loans | 0 | 0 | |
Allowance for Loan Losses, Individually Evaluated for Impairment | 1 | 3 | |
Allowance for Loan Losses, Collectively Evaluated for Impairment | 751 | 246 | |
Allowance for loan losses | 752 | 249 | |
Purchased Credit-Impaired Loans | 6,339 | 5,355 | |
Loans individually evaluated for impairment | 2,173 | 2,378 | |
Loans Collectively Evaluated | 79,939 | 66,702 | |
Total Loans Receivable | 88,451 | 74,435 | |
Commercial Loan | Municipal leases | |||
Allowance for Loan Losses, Collectively Evaluated for Impairment | 671 | 769 | |
Allowance for loan losses | 671 | 769 | |
Loans individually evaluated for impairment | 316 | ||
Loans Collectively Evaluated | 106,377 | 106,215 | |
Total Loans Receivable | $106,693 | $106,215 |
Loans_Schedule_of_Impaired_Loa
Loans - Schedule of Impaired Loans and Related Allowance by Segment and Class (Details) (USD $) | Mar. 31, 2015 | Jun. 30, 2014 |
In Thousands, unless otherwise specified | ||
Unpaid Principal Balance | $81,849 | $74,691 |
Recorded Investment With a Recorded Allowance | 23,125 | 19,080 |
Recorded Investment With No Recorded Allowance | 41,871 | 41,192 |
Total Impaired Loans | 64,996 | 60,272 |
Impaired Loans, Related Recorded Allowance | 2,124 | 1,278 |
Retail consumer loans | One-to-four family | ||
Unpaid Principal Balance | 35,707 | 34,243 |
Recorded Investment With a Recorded Allowance | 12,373 | 12,946 |
Recorded Investment With No Recorded Allowance | 19,036 | 18,047 |
Total Impaired Loans | 31,409 | 30,993 |
Impaired Loans, Related Recorded Allowance | 578 | 618 |
Retail consumer loans | Home equity lines of credit | ||
Unpaid Principal Balance | 6,391 | 6,161 |
Recorded Investment With a Recorded Allowance | 3,110 | 2,110 |
Recorded Investment With No Recorded Allowance | 1,380 | 2,299 |
Total Impaired Loans | 4,490 | 4,409 |
Impaired Loans, Related Recorded Allowance | 429 | 160 |
Retail consumer loans | Construction and land/lots | ||
Unpaid Principal Balance | 3,670 | 3,287 |
Recorded Investment With a Recorded Allowance | 1,466 | 1,053 |
Recorded Investment With No Recorded Allowance | 816 | 793 |
Total Impaired Loans | 2,282 | 1,846 |
Impaired Loans, Related Recorded Allowance | 579 | 383 |
Retail consumer loans | Indirect auto finance | ||
Unpaid Principal Balance | 31 | |
Retail consumer loans | Consumer | ||
Unpaid Principal Balance | 1,617 | 364 |
Recorded Investment With a Recorded Allowance | 10 | 16 |
Recorded Investment With No Recorded Allowance | 19 | 11 |
Total Impaired Loans | 29 | 27 |
Impaired Loans, Related Recorded Allowance | 11 | 3 |
Commercial Loan | Indirect auto finance | ||
Unpaid Principal Balance | 0 | |
Commercial Loan | Commercial real estate | ||
Unpaid Principal Balance | 22,047 | 18,558 |
Recorded Investment With a Recorded Allowance | 2,651 | 1,714 |
Recorded Investment With No Recorded Allowance | 14,626 | 13,082 |
Total Impaired Loans | 17,277 | 14,796 |
Impaired Loans, Related Recorded Allowance | 88 | 59 |
Commercial Loan | Construction and development | ||
Unpaid Principal Balance | 8,631 | 9,091 |
Recorded Investment With a Recorded Allowance | 3,344 | 928 |
Recorded Investment With No Recorded Allowance | 3,476 | 4,930 |
Total Impaired Loans | 6,820 | 5,858 |
Impaired Loans, Related Recorded Allowance | 436 | 48 |
Commercial Loan | Commercial and industrial | ||
Unpaid Principal Balance | 3,439 | 2,987 |
Recorded Investment With a Recorded Allowance | 171 | 313 |
Recorded Investment With No Recorded Allowance | 2,202 | 2,030 |
Total Impaired Loans | 2,373 | 2,343 |
Impaired Loans, Related Recorded Allowance | 3 | 7 |
Commercial Loan | Municipal leases | ||
Unpaid Principal Balance | 316 | 0 |
Recorded Investment With No Recorded Allowance | 316 | 0 |
Total Impaired Loans | 316 | 0 |
Purchased Credit Impaired | ||
Loans excluded from recorded investment due to accretion of discounts | $10,354 | $9,220 |
Loans_Impaired_Financing_Recei
Loans - Impaired Financing Receivable (Details) (USD $) | Mar. 31, 2015 | Jun. 30, 2014 |
In Thousands, unless otherwise specified | ||
Receivables [Abstract] | ||
Impaired Loans Not Individually Evaluated | $11,527 | $12,406 |
Recorded Allowance of Impaired Loans Not Individually Evaluated | $180 | $427 |
Loans_Schedule_of_Average_Reco
Loans - Schedule of Average Recorded Investment in Loans, Unpaid Principal Balance and Interest Income Recognized (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Mar. 31, 2015 | Mar. 31, 2014 |
Average Recorded Investment | $60,965 | $77,685 | $65,080 | $85,798 |
Interest Income Recognized | 736 | 683 | 2,250 | 2,383 |
Retail consumer loans | One-to-four family | ||||
Average Recorded Investment | 30,155 | 37,320 | 31,914 | 41,601 |
Interest Income Recognized | 395 | 355 | 1,283 | 1,247 |
Retail consumer loans | Home equity lines of credit | ||||
Average Recorded Investment | 4,316 | 5,722 | 4,730 | 5,855 |
Interest Income Recognized | 66 | 57 | 195 | 213 |
Retail consumer loans | Construction and land/lots | ||||
Average Recorded Investment | 2,152 | 2,101 | 2,153 | 2,205 |
Interest Income Recognized | 38 | 46 | 125 | 155 |
Retail consumer loans | Indirect auto finance | ||||
Average Recorded Investment | 0 | 0 | 0 | 0 |
Interest Income Recognized | 0 | 0 | 1 | 0 |
Retail consumer loans | Consumer | ||||
Average Recorded Investment | 55 | 32 | 37 | 40 |
Interest Income Recognized | 5 | 3 | 16 | 6 |
Commercial Loan | Commercial real estate | ||||
Average Recorded Investment | 15,551 | 22,930 | 17,281 | 24,434 |
Interest Income Recognized | 147 | 140 | 406 | 499 |
Commercial Loan | Construction and development | ||||
Average Recorded Investment | 6,019 | 6,789 | 6,104 | 8,888 |
Interest Income Recognized | 55 | 45 | 133 | 132 |
Commercial Loan | Commercial and industrial | ||||
Average Recorded Investment | 2,270 | 2,791 | 2,622 | 2,775 |
Interest Income Recognized | 18 | 37 | 74 | 131 |
Commercial Loan | Municipal leases | ||||
Average Recorded Investment | 447 | 0 | 239 | 0 |
Interest Income Recognized | $12 | $0 | $17 | $0 |
Loans_Schedule_of_Changes_in_A
Loans - Schedule of Changes in Accretable Yield for Purchased Impaired Loans (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Mar. 31, 2015 | Mar. 31, 2014 |
Changes in Accretable Yield [Roll Forward] | ||||
Accretable yield, beginning of period | $10,335 | $1,610 | $6,151 | $0 |
Interest income | -1,616 | -155 | -4,747 | -380 |
Accretable yield, end of period | 8,719 | 1,455 | 8,719 | 1,455 |
BankGreenville | ||||
Changes in Accretable Yield [Roll Forward] | ||||
Additions from acquisition | 0 | 1,835 | ||
Bank of Commerce | ||||
Changes in Accretable Yield [Roll Forward] | ||||
Additions from acquisition | $7,315 | $0 |
Loans_Schedule_of_Purchased_Pe
Loans - Schedule of Purchased Performing Loans Receivable -- Bank of Commerce (Details) (Bank of Commerce, Purchased Performing Loans, USD $) | Jul. 31, 2014 |
In Thousands, unless otherwise specified | |
Bank of Commerce | Purchased Performing Loans | |
Contractually required principal payments receivable | $47,112 |
Adjustment for credit, interest rate, and liquidity | 1,159 |
Balance of purchased loans receivable | $45,953 |
Loans_Schedule_of_Purchased_Im
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 | |
Contractually required principal payments receivable | $49,870 |
Amounts not expected to be collected b nonaccretable difference | 2,300 |
Estimated payments expected to be received | 47,570 |
Accretable yield | 7,315 |
Fair value of PCI loans | $40,255 |
Loans_Schedule_of_Debtor_Troub
Loans - Schedule of Debtor Troubled Debt Restructuring, Current Period (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Mar. 31, 2015 | Mar. 31, 2014 |
loan | loan | loan | loan | |
Number of Loans | 11 | 9 | 35 | 24 |
Pre Modification Outstanding Recorded Investment | $3,520 | $1,471 | $5,204 | $2,535 |
Post Modification Outstanding Recorded Investment | 3,401 | 1,470 | 5,107 | 2,481 |
Below market interest rate | Retail consumer loans | ||||
Number of Loans | 3 | 0 | 5 | 5 |
Pre Modification Outstanding Recorded Investment | 388 | 0 | 559 | 493 |
Post Modification Outstanding Recorded Investment | 386 | 0 | 576 | 485 |
Below market interest rate | Retail consumer loans | One-to-four family | ||||
Number of Loans | 3 | 0 | 4 | 3 |
Pre Modification Outstanding Recorded Investment | 388 | 0 | 449 | 146 |
Post Modification Outstanding Recorded Investment | 386 | 0 | 473 | 142 |
Below market interest rate | Retail consumer loans | Home equity lines of credit | ||||
Number of Loans | 2 | |||
Pre Modification Outstanding Recorded Investment | 347 | |||
Post Modification Outstanding Recorded Investment | 343 | |||
Below market interest rate | Retail consumer loans | Construction and land/lots | ||||
Number of Loans | 1 | |||
Pre Modification Outstanding Recorded Investment | 110 | |||
Post Modification Outstanding Recorded Investment | 103 | |||
Extended payment terms | Retail consumer loans | ||||
Number of Loans | 0 | 1 | 7 | 2 |
Pre Modification Outstanding Recorded Investment | 0 | 42 | 527 | 44 |
Post Modification Outstanding Recorded Investment | 0 | 41 | 567 | 41 |
Extended payment terms | Retail consumer loans | One-to-four family | ||||
Number of Loans | 0 | 1 | 0 | 2 |
Pre Modification Outstanding Recorded Investment | 0 | 42 | 0 | 44 |
Post Modification Outstanding Recorded Investment | 0 | 41 | 0 | 41 |
Extended payment terms | Retail consumer loans | Home equity lines of credit | ||||
Number of Loans | 3 | |||
Pre Modification Outstanding Recorded Investment | 91 | |||
Post Modification Outstanding Recorded Investment | 87 | |||
Extended payment terms | Retail consumer loans | Consumer | ||||
Number of Loans | 2 | |||
Pre Modification Outstanding Recorded Investment | 10 | |||
Post Modification Outstanding Recorded Investment | 9 | |||
Extended payment terms | Retail consumer loans | Commercial real estate | ||||
Number of Loans | 2 | |||
Pre Modification Outstanding Recorded Investment | 426 | |||
Post Modification Outstanding Recorded Investment | 471 | |||
Extended payment terms | Retail consumer loans | Construction and development | ||||
Number of Loans | 2 | |||
Pre Modification Outstanding Recorded Investment | 173 | |||
Post Modification Outstanding Recorded Investment | 172 | |||
Other Troubled Debt Restructurings | Retail consumer loans | ||||
Number of Loans | 8 | 8 | 23 | 17 |
Pre Modification Outstanding Recorded Investment | 3,132 | 1,429 | 4,118 | 1,998 |
Post Modification Outstanding Recorded Investment | 3,015 | 1,429 | 3,964 | 1,955 |
Other Troubled Debt Restructurings | Retail consumer loans | One-to-four family | ||||
Number of Loans | 6 | 7 | 16 | 13 |
Pre Modification Outstanding Recorded Investment | 3,091 | 777 | 3,684 | 1,169 |
Post Modification Outstanding Recorded Investment | 3,006 | 787 | 3,568 | 1,178 |
Other Troubled Debt Restructurings | Retail consumer loans | Home equity lines of credit | ||||
Number of Loans | 2 | 0 | 4 | 2 |
Pre Modification Outstanding Recorded Investment | 41 | 0 | 155 | 42 |
Post Modification Outstanding Recorded Investment | 9 | 0 | 121 | 4 |
Other Troubled Debt Restructurings | Retail consumer loans | Construction and land/lots | ||||
Number of Loans | 0 | 1 | 1 | 2 |
Pre Modification Outstanding Recorded Investment | 0 | 652 | 106 | 787 |
Post Modification Outstanding Recorded Investment | $0 | $642 | $103 | $773 |
Loans_Schedule_of_Troubled_Deb1
Loans - Schedule of Troubled Debt Restructurings With Payment Default (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Mar. 31, 2015 | Mar. 31, 2014 |
loan | loan | loan | loan | |
Troubled Debt Restructuring Subsequent Default Number of Loans | 6 | 2 | 15 | 6 |
Troubled Debt Restructuring Subsequent Default Recorded Investment | $1,105 | $166 | $1,677 | $792 |
Below market interest rate | Retail consumer loans | ||||
Troubled Debt Restructuring Subsequent Default Number of Loans | 2 | 0 | 2 | 0 |
Troubled Debt Restructuring Subsequent Default Recorded Investment | 380 | 0 | 380 | 0 |
Below market interest rate | Retail consumer loans | One-to-four family | ||||
Troubled Debt Restructuring Subsequent Default Number of Loans | 2 | 0 | ||
Troubled Debt Restructuring Subsequent Default Recorded Investment | 380 | 0 | ||
Below market interest rate | Retail consumer loans | One-to-four family | ||||
Troubled Debt Restructuring Subsequent Default Number of Loans | 2 | 0 | ||
Troubled Debt Restructuring Subsequent Default Recorded Investment | 380 | 0 | ||
Extended payment terms | ||||
Troubled Debt Restructuring Subsequent Default Number of Loans | 0 | 1 | ||
Troubled Debt Restructuring Subsequent Default Recorded Investment | 0 | 250 | ||
Extended payment terms | Home equity lines of credit | ||||
Troubled Debt Restructuring Subsequent Default Number of Loans | 0 | 1 | ||
Troubled Debt Restructuring Subsequent Default Recorded Investment | 0 | 250 | ||
Extended payment terms | Retail consumer loans | ||||
Troubled Debt Restructuring Subsequent Default Number of Loans | 0 | 0 | ||
Troubled Debt Restructuring Subsequent Default Recorded Investment | 0 | 0 | ||
Other Troubled Debt Restructurings | Retail consumer loans | ||||
Troubled Debt Restructuring Subsequent Default Number of Loans | 13 | 5 | ||
Troubled Debt Restructuring Subsequent Default Recorded Investment | 1,297 | 542 | ||
Other Troubled Debt Restructurings | Retail consumer loans | One-to-four family | ||||
Troubled Debt Restructuring Subsequent Default Number of Loans | 2 | 2 | ||
Troubled Debt Restructuring Subsequent Default Recorded Investment | 716 | 166 | ||
Other Troubled Debt Restructurings | Retail consumer loans | One-to-four family | ||||
Troubled Debt Restructuring Subsequent Default Number of Loans | 10 | 4 | ||
Troubled Debt Restructuring Subsequent Default Recorded Investment | 1,116 | 422 | ||
Other Troubled Debt Restructurings | Retail consumer loans | Home equity lines of credit | ||||
Troubled Debt Restructuring Subsequent Default Number of Loans | 2 | 0 | 2 | 1 |
Troubled Debt Restructuring Subsequent Default Recorded Investment | 9 | 0 | 9 | 120 |
Other Troubled Debt Restructurings | Retail consumer loans | Construction and land/lots | ||||
Troubled Debt Restructuring Subsequent Default Number of Loans | 4 | 2 | 1 | 0 |
Troubled Debt Restructuring Subsequent Default Recorded Investment | $725 | $166 | $172 | $0 |
Net_Income_Per_Share_Schedule_
Net Income Per Share - Schedule of Earnings Per Share, Basic and Diluted (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Mar. 31, 2015 | Mar. 31, 2014 |
Numerator: | ||||
Net income available to common stockholders | $1,162 | $2,606 | $5,467 | $8,809 |
Denominator: | ||||
Weighted-average common shares outstanding - basic | 19,113,387 | 18,302,672 | 19,146,025 | 18,724,242 |
Effect of dilutive shares | 79,315 | 75,487 | 86,766 | 91,174 |
Weighted-average common shares outstanding - diluted | 19,192,702 | 18,378,159 | 19,232,791 | 18,815,416 |
Net income per share - basic (in dollars per share) | $0.06 | $0.14 | $0.28 | $0.46 |
Net income per share - diluted (in dollars per share) | $0.06 | $0.14 | $0.28 | $0.46 |
Net_Income_Per_Share_Antidilut
Net Income Per Share - Antidilutive Stock Options (Details) | 3 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | |
Earnings Per Share [Abstract] | ||
Antidilutive securities excluded from computation of earnings per share | 1,450,100 | 1,585,500 |
Equity_Incentive_Plan_Narrativ
Equity Incentive Plan - Narrative (Details) (USD $) | 0 Months Ended | 9 Months Ended | 12 Months Ended | 3 Months Ended | ||||
Jan. 17, 2013 | Mar. 31, 2015 | Mar. 31, 2014 | Jun. 30, 2014 | Jun. 30, 2013 | Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2013 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||
Equity incentive plan name | 2013 Omnibus Incentive Plan | |||||||
Stock Repurchased During Period, Shares | 846,400 | |||||||
Stock Repurchase Program, Authorized Amount | $13,300,000 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Per Share Weighted Average Price of Shares Purchased | $15.71 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Weighted Average Grant Date Fair Value | $3.59 | $4.49 | $4.50 | |||||
Granted (in shares) | 10,000 | 30,000 | ||||||
Options outstanding (in shares) | 1,500,100 | 1,585,500 | 1,513,500 | 1,557,000 | 1,500,100 | 1,585,500 | ||
Outstanding, Remaining contractual life | 7 years 10 months 24 days | 8 years 10 months 24 days | 8 years 7 months 6 days | 9 years 7 months 6 days | ||||
2013 Omnibus Incentive Plan | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||
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 | |||||||
Number of shares authorized (in shares) | 2,962,400 | |||||||
Shares held for awards of stock options and stock appreciation rights (in shares) | 2,116,000 | |||||||
Shares held for awards of restricted stock and restricted stock units (in shares) | 846,400 | |||||||
Restricted Stock | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||
Unrecognized compensation expense | 4,163,000 | 4,163,000 | 5,859,000 | |||||
Unrecognized Compensation Costs on Stock Option Awards Weighted Average Period of Recognition | 2 years 11 days | 3 years 10 months 24 days | ||||||
Non-vested (in shares) | 310,470 | 422,865 | 403,965 | 511,300 | 310,470 | 422,865 | ||
Stock Option Activity | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||
Unrecognized compensation expense | 3,851,000 | 3,851,000 | 5,650,000 | |||||
Unrecognized Compensation Costs on Stock Option Awards Weighted Average Period of Recognition | 2 years 18 days | 3 years 10 months 24 days | ||||||
Restricted Stock | Employee Stock Option | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||
Share-based compensation expense | 2,088,000 | 1,999,000 | 662,000 | 662,000 | ||||
Employee Service Share-based Compensation, Tax Benefit from Compensation Expense | $773,000 | $740,000 | $245,000 | $245,000 | ||||
Minimum | Restricted Stock | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Outstanding, Weighted Average Remaining Contractual Terms | 5 years | 5 years | ||||||
Minimum | Stock Option Activity | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||
Outstanding, Remaining contractual life | 5 years | |||||||
Maximum | Restricted Stock | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Outstanding, Weighted Average Remaining Contractual Terms | 7 years | 7 years | ||||||
Maximum | Stock Option Activity | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||
Outstanding, Remaining contractual life | 7 years |
Equity_Incentive_Plan_Stock_Op
Equity Incentive Plan - Stock Option Activity (Details) (USD $) | 9 Months Ended | 12 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Jun. 30, 2014 | Jun. 30, 2013 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | ||||
Options Outstanding, Beginning of Period | 1,513,500 | 1,557,000 | 1,557,000 | |
Granted (in shares) | 10,000 | 30,000 | ||
Exercised (in shares) | 18,000 | 0 | ||
Forfeited (in shares) | 5,400 | 1,500 | ||
Expired (in shares) | 0 | 0 | ||
Options Outstanding, End of period | 1,500,100 | 1,585,500 | 1,513,500 | 1,557,000 |
Exercisable (in shares) | 549,150 | 290,175 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract] | ||||
Outstanding, Weighted Average Exercise Price | $14.40 | $14.37 | $14.37 | |
Granted, Weighted Average Exercise Price | $16.08 | $15.83 | ||
Exercised, Weighted Average Exercise Price | $14.37 | $0 | ||
Forfeited, Weighted Average Exercise Price | $14.37 | $14.37 | ||
Expired, Weighted Average Exercise Price | $0 | $0 | ||
Outstanding, Weighted Average Exercise Price | $14.41 | $14.40 | $14.40 | $14.37 |
Exercisable, Weighted Average Exercise Price | $14.39 | $14.37 | ||
Outstanding, Remaining contractual life | 7 years 10 months 24 days | 8 years 10 months 24 days | 8 years 7 months 6 days | 9 years 7 months 6 days |
Outstanding Options Weighted Average Remaining Contractual Term | 10 years | 10 years | ||
Outstanding, Aggregate Intrinsic Value | $2,340 | $2,193 | $2,077 | $4,033 |
Equity_Incentive_Plan_Schedule
Equity Incentive Plan - Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions (Details) | 9 Months Ended | 12 Months Ended | |
Mar. 31, 2015 | Jun. 30, 2014 | Jun. 30, 2013 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||
Weighted-average volatility | 18.90% | 28.19% | 28.19% |
Expected dividend yield | 0.00% | 0.00% | 0.00% |
Risk-free interest rate | 1.56% | 2.04% | 1.28% |
Expected life (years) | 6 years | 6 years 6 months | 6 years 7 months 6 days |
Equity_Incentive_Plan_Schedule1
Equity Incentive Plan - Schedule of Nonvested Restricted Stock Units Activity (Details) (Restricted Stock, USD $) | 9 Months Ended | |||
In Thousands, except Share data, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Jun. 30, 2014 | Jun. 30, 2013 |
Restricted Stock | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | ||||
Non-vested, Beginning Balance (in shares) | 403,965 | 511,300 | ||
Granted (in shares) | 0 | 7,050,000 | ||
Vested (in shares) | 91,895 | 95,485,000 | ||
Forfeited (in shares) | 1,600 | 0 | ||
Non-vested, Ending Balance (in shares) | 310,470 | 422,865 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract] | ||||
Non-vested, Beginning Balance, Weighted average grant date fair value | $14.39 | $14.37 | ||
Granted, Weighted average grant date fair value | $0 | $15.80 | ||
Vested, Weighted average grant date fair value | $14.39 | $14.37 | ||
Forfeited, Weighted average grant date fair value | $14.37 | $0 | ||
Non-vested, Ending Balance, Weighted average grant date fair value | $14.40 | $14.39 | ||
Aggregate Intrinsic Value | $4,958 | $6,673 | $6,371 | $8,672 |
Commitments_and_Contingencies_
Commitments and Contingencies - Narrative (Details) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended |
Sep. 30, 2014 | Mar. 31, 2015 | Jun. 30, 2014 | |
Other Commitments [Line Items] | |||
Unused commitments to extend credit | 28,013,000 | 28,360,000 | |
Variable rate commitments | 9,995,000 | 3,620,000 | |
Fixed rate commitments | 18,018,000 | 24,740,000 | |
Remaining borrowing capacity | 223,181,000 | 167,630,000 | |
Required cash reserve | 1,873,000 | 8,087,000 | |
Letters of credit outstanding | 2,768,000 | 483,000 | |
Litigation, damages sought | 12,500,000 | ||
Minimum | |||
Other Commitments [Line Items] | |||
Fixed interest rate (as a percent) | 1.99% | 1.85% | |
Debt Instrument, Term | 3 years | ||
Maximum | |||
Other Commitments [Line Items] | |||
Fixed interest rate (as a percent) | 6.25% | 10.51% | |
Debt Instrument, Term | 30 years | ||
Construction and development | |||
Other Commitments [Line Items] | |||
Unused commitments to extend credit | 46,151,000 | 27,086,000 |
Fair_Value_of_Financial_Instru2
Fair Value of Financial Instruments - Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis (Details) (USD $) | Mar. 31, 2015 | Jun. 30, 2014 |
In Thousands, unless otherwise specified | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Recurring | $230,512 | $168,749 |
Fair Value, Inputs, Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Recurring | 229,512 | 168,749 |
Fair Value, Inputs, Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Recurring | 1,000 | |
US Government Agencies | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Recurring | 88,117 | 38,093 |
US Government Agencies | Fair Value, Inputs, Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Recurring | 88,117 | 38,093 |
Government Agencies and Government Sponsored Enterprises | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Recurring | 121,284 | 111,411 |
Government Agencies and Government Sponsored Enterprises | Fair Value, Inputs, Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Recurring | 121,284 | 111,411 |
Municipal Bonds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Recurring | 17,002 | 16,220 |
Municipal Bonds | Fair Value, Inputs, Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Recurring | 17,002 | 16,220 |
Corporate Bond Securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Recurring | 4,046 | 3,025 |
Corporate Bond Securities | Fair Value, Inputs, Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Recurring | 3,046 | 3,025 |
Corporate Bond Securities | Fair Value, Inputs, Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Recurring | 1,000 | |
Equity Securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Recurring | 63 | |
Equity Securities | Fair Value, Inputs, Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Recurring | $63 |
Fair_Value_of_Financial_Instru3
Fair Value of Financial Instruments - Schedule of Fair Value Measurements, Nonrecurring (Details) (USD $) | Mar. 31, 2015 | Jun. 30, 2014 |
In Thousands, unless otherwise specified | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Nonrecurring | $6,504 | $12,871 |
Impaired loans | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Nonrecurring | 5,319 | 3,686 |
Other real estate owned | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Nonrecurring | 1,185 | 9,185 |
Fair Value, Inputs, Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Nonrecurring | 6,504 | 12,871 |
Fair Value, Inputs, Level 3 | Impaired loans | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Nonrecurring | 5,319 | 3,686 |
Fair Value, Inputs, Level 3 | Other real estate owned | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Nonrecurring | $1,185 | $9,185 |
Fair_Value_of_Financial_Instru4
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 | Mar. 31, 2015 | Jun. 30, 2014 |
Assets, Fair Value Disclosure, Nonrecurring | $6,504 | $12,871 |
Other real estate owned | ||
Assets, Fair Value Disclosure, Nonrecurring | 1,185 | 9,185 |
Fair Value, Inputs, Level 3 | ||
Assets, Fair Value Disclosure, Nonrecurring | 6,504 | 12,871 |
Fair Value, Inputs, Level 3 | Other real estate owned | ||
Assets, Fair Value Disclosure, Nonrecurring | 1,185 | 9,185 |
Fair Value, Inputs, Level 3 | Nonrecurring measurements | Impaired loans, net | ||
Assets, Fair Value Disclosure, Nonrecurring | 5,319 | |
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 Weighted Average Rate | 15.00% | |
Fair Value, Inputs, Level 3 | Nonrecurring measurements | Other real estate owned | ||
Assets, Fair Value Disclosure, Nonrecurring | $1,185 | |
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 Weighted Average Rate | 14.00% | |
Minimum | Fair Value, Inputs, Level 3 | Nonrecurring measurements | Impaired loans, net | ||
Fair Value Inputs, Collateral Discounts | 3.00% | |
Minimum | Fair Value, Inputs, Level 3 | Nonrecurring measurements | Other real estate owned | ||
Fair Value Inputs, Collateral Discounts | 10.00% | |
Maximum | Fair Value, Inputs, Level 3 | Nonrecurring measurements | Impaired loans, net | ||
Fair Value Inputs, Collateral Discounts | 60.00% | |
Maximum | Fair Value, Inputs, Level 3 | Nonrecurring measurements | Other real estate owned | ||
Fair Value Inputs, Collateral Discounts | 15.00% |
Fair_Value_of_Financial_Instru5
Fair Value of Financial Instruments - Schedule of Fair Value, by Balance Sheet Grouping (Details) (USD $) | Mar. 31, 2015 | Jun. 30, 2014 |
In Thousands, unless otherwise specified | ||
Cash and interest-bearing deposits | ||
Financial Instruments Owned | $294,659 | $45,830 |
Certificates of deposit in other banks | ||
Financial Instruments Owned | 204,596 | 163,780 |
Securities available for sale | ||
Financial Instruments Owned | 230,512 | 168,749 |
Other Investments | ||
Financial Instruments Owned | 19,142 | 3,697 |
Loans held for sale | ||
Financial Instruments Owned | 2,225 | 2,537 |
Loans, net | ||
Financial Instruments Owned | 1,618,376 | 1,473,099 |
Accrued interest receivable | ||
Financial Instruments Owned | 7,249 | 6,787 |
Noninterest-bearing and NOW deposits | ||
Financial Instruments Owned | 592,338 | 418,671 |
Money market accounts | ||
Financial Instruments Owned | 489,606 | 354,247 |
Savings accounts | ||
Financial Instruments Owned | 223,748 | 175,974 |
Certificates of deposit | ||
Financial Instruments Owned | 608,081 | 634,154 |
Other borrowings | ||
Financial Instruments Owned | 250,000 | 50,000 |
Accrued interest payable | ||
Financial Instruments Owned | 146 | 244 |
Fair Value, Inputs, Level 1 | Cash and interest-bearing deposits | ||
Financial Instruments Owned | 294,659 | 45,830 |
Fair Value, Inputs, Level 1 | Other Investments | ||
Financial Instruments Owned | 19,142 | 3,697 |
Fair Value, Inputs, Level 2 | Certificates of deposit in other banks | ||
Financial Instruments Owned | 204,596 | 163,780 |
Fair Value, Inputs, Level 2 | Securities available for sale | ||
Financial Instruments Owned | 229,512 | 168,749 |
Fair Value, Inputs, Level 2 | Accrued interest receivable | ||
Financial Instruments Owned | 1,095 | 736 |
Fair Value, Inputs, Level 2 | Noninterest-bearing and NOW deposits | ||
Financial Instruments Owned | 592,338 | 418,671 |
Fair Value, Inputs, Level 2 | Money market accounts | ||
Financial Instruments Owned | 489,606 | 354,247 |
Fair Value, Inputs, Level 2 | Savings accounts | ||
Financial Instruments Owned | 223,748 | 175,974 |
Fair Value, Inputs, Level 2 | Certificates of deposit | ||
Financial Instruments Owned | 607,650 | 620,196 |
Fair Value, Inputs, Level 2 | Other borrowings | ||
Financial Instruments Owned | 250,000 | 50,000 |
Fair Value, Inputs, Level 2 | Accrued interest payable | ||
Financial Instruments Owned | 146 | 244 |
Fair Value, Inputs, Level 3 | Securities available for sale | ||
Financial Instruments Owned | 1,000 | 0 |
Fair Value, Inputs, Level 3 | Loans held for sale | ||
Financial Instruments Owned | 2,261 | 2,578 |
Fair Value, Inputs, Level 3 | Loans, net | ||
Financial Instruments Owned | 1,524,874 | 1,381,438 |
Fair Value, Inputs, Level 3 | Accrued interest receivable | ||
Financial Instruments Owned | 6,154 | 6,051 |
Estimate of Fair Value Measurement [Member] | Cash and interest-bearing deposits | ||
Financial Instruments Owned | 294,659 | 45,830 |
Estimate of Fair Value Measurement [Member] | Certificates of deposit in other banks | ||
Financial Instruments Owned | 204,596 | 163,780 |
Estimate of Fair Value Measurement [Member] | Securities available for sale | ||
Financial Instruments Owned | 230,512 | 168,749 |
Estimate of Fair Value Measurement [Member] | Other Investments | ||
Financial Instruments Owned | 19,142 | 3,697 |
Estimate of Fair Value Measurement [Member] | Loans held for sale | ||
Financial Instruments Owned | 2,261 | 2,578 |
Estimate of Fair Value Measurement [Member] | Loans, net | ||
Financial Instruments Owned | 1,524,874 | 1,381,438 |
Estimate of Fair Value Measurement [Member] | Accrued interest receivable | ||
Financial Instruments Owned | 7,249 | 6,787 |
Estimate of Fair Value Measurement [Member] | Noninterest-bearing and NOW deposits | ||
Financial Instruments Owned | 592,338 | 418,671 |
Estimate of Fair Value Measurement [Member] | Money market accounts | ||
Financial Instruments Owned | 489,606 | 354,247 |
Estimate of Fair Value Measurement [Member] | Savings accounts | ||
Financial Instruments Owned | 223,748 | 175,974 |
Estimate of Fair Value Measurement [Member] | Certificates of deposit | ||
Financial Instruments Owned | 607,650 | 620,196 |
Estimate of Fair Value Measurement [Member] | Other borrowings | ||
Financial Instruments Owned | 250,000 | 50,000 |
Estimate of Fair Value Measurement [Member] | Accrued interest payable | ||
Financial Instruments Owned | $146 | $244 |
Fair_Value_of_Financial_Instru6
Fair Value of Financial Instruments - Off-Balance-Sheet Credit Exposure (Details) (USD $) | Mar. 31, 2015 | Jun. 30, 2014 |
In Thousands, unless otherwise specified | ||
Fair Value Disclosures [Abstract] | ||
Fair Value Disclosure, Off-balance Sheet Risks, Amount, Liability | $297,345 | $223,076 |