Document and Entity Information
Document and Entity Information - shares | 3 Months Ended | |
Sep. 30, 2015 | Nov. 03, 2015 | |
Document and Entity Information: | ||
Entity Registrant Name | HomeTrust Bancshares, Inc. | |
Entity Central Index Key | 1,538,263 | |
Current Fiscal Year End Date | --06-30 | |
Entity Filer Category | Accelerated Filer | |
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2015 | |
Document Fiscal Year Focus | 2,015 | |
Document Fiscal Period Focus | Q1 | |
Amendment Flag | false | |
Entity Common Stock, Shares Outstanding | 18,656,221 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Sep. 30, 2015 | Jun. 30, 2015 |
Assets | ||
Cash | $ 37,411 | $ 33,891 |
Interest-bearing deposits | 12,819 | 82,269 |
Cash and cash equivalents | 50,230 | 116,160 |
Commercial paper | 242,928 | 256,152 |
Certificates of deposit in other banks | 196,386 | 210,629 |
Securities available for sale, at fair value | 249,711 | 257,606 |
Other investments, at cost | 28,753 | 28,711 |
Loans held for sale | 4,012 | 5,874 |
Total loans, net of deferred loan fees and discount | 1,742,290 | 1,685,707 |
Allowance for loan losses | (22,112) | (22,374) |
Net loans | 1,720,178 | 1,663,333 |
Premises and equipment, net | 56,898 | 57,524 |
Accrued interest receivable | 7,914 | 7,522 |
Real estate owned (REO) | 6,634 | 7,024 |
Deferred income taxes | 57,471 | 59,493 |
Bank owned life insurance | 77,840 | 77,354 |
Goodwill | 12,673 | 12,673 |
Core deposit intangibles | 9,269 | 10,043 |
Other assets | 5,103 | 13,016 |
Total Assets | 2,726,000 | 2,783,114 |
Liabilities | ||
Deposits | 1,819,950 | 1,872,126 |
Other borrowings | 476,000 | 475,000 |
Capital lease obligations | 1,974 | 1,979 |
Other liabilities | 59,928 | 62,959 |
Total liabilities | 2,357,852 | 2,412,064 |
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, 19,074,037 shares issued and outstanding at September 30, 2015; 19,488,449 at June 30, 2015 | 191 | 195 |
Additional paid in capital | 204,151 | 210,621 |
Retained earnings | 170,921 | 168,357 |
Unearned Employee Stock Ownership Plan (ESOP) shares | (8,861) | (8,993) |
Accumulated other comprehensive income | 1,746 | 870 |
Total stockholders' equity | 368,148 | 371,050 |
Total Liabilities and Stockholders' Equity | $ 2,726,000 | $ 2,783,114 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - $ / shares | Sep. 30, 2015 | Jun. 30, 2015 |
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 Inco
Consolidated Statements of Income - USD ($) $ in Thousands | 3 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
Interest and Dividend Income | ||
Loans | $ 19,635 | $ 18,557 |
Securities available for sale | 1,199 | 805 |
Certificates of deposit and other interest-bearing deposits | 830 | 439 |
Other investments | 345 | 64 |
Total interest and dividend income | 22,009 | 19,865 |
Interest Expense | ||
Deposits | 1,191 | 1,227 |
Other borrowings | 247 | 38 |
Total interest expense | 1,438 | 1,265 |
Net Interest Income | 20,571 | 18,600 |
Recovery of Loan Losses | 0 | (250) |
Net Interest Income after Recovery for Loan Losses | 20,571 | 18,850 |
Noninterest Income | ||
Service charges on deposit accounts | 1,699 | 1,062 |
Mortgage banking income and fees | 728 | 846 |
Other, net | 942 | 861 |
Total noninterest income | 3,369 | 2,769 |
Noninterest Expense | ||
Salaries and employee benefits | 10,857 | 9,808 |
Net occupancy expense | 2,259 | 1,853 |
Marketing and advertising | 485 | 388 |
Telephone, postage, and supplies | 830 | 678 |
Deposit insurance premiums | 525 | 430 |
Computer services | 1,584 | 1,353 |
Gain on sale and impairment of REO | (21) | (36) |
REO expense | 355 | 356 |
Core deposit intangible amortization | 774 | 413 |
Merger-related expenses | 0 | 1,421 |
Other | 2,187 | 1,833 |
Total other expense | 19,835 | 18,497 |
Income Before Income Taxes | 4,105 | 3,122 |
Income Tax Expense | 1,541 | 866 |
Net Income | $ 2,564 | $ 2,256 |
Net income per common share: | ||
Basic (in dollars per share) | $ 0.14 | $ 0.12 |
Diluted (in dollars per share) | $ 0.14 | $ 0.12 |
Average shares outstanding: | ||
Basic (in shares) | 18,077,987 | 19,178,607 |
Diluted (in shares) | 18,291,029 | 19,242,722 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
Statement of Comprehensive Income [Abstract] | ||
Net Income | $ 2,564 | $ 2,256 |
Other Comprehensive Income (Loss) | ||
Gains (losses) arising during the period | 1,327 | (52) |
Deferred income tax benefit (expense) | (451) | 18 |
Total other comprehensive income (loss) | 876 | (34) |
Comprehensive Income | $ 3,440 | $ 2,222 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands | Total | Common Stock | Additional Paid In Capital | Retained Earnings | Unearned ESOP Shares | Accumulated Other Comprehensive Income (Loss) |
Balance at beginning of period (in shares) at Jun. 30, 2014 | 20,632,008 | |||||
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 | 2,256 | 2,256 | ||||
Stock repurchased (in shares) | (142,760) | |||||
Stock repurchased | $ (2,538) | $ (2) | (2,536) | |||
Exercised stock options (in shares) | 18,000 | 18,000 | ||||
Exercised stock options | $ 259 | 259 | ||||
Stock option expense | 365 | 365 | ||||
Restricted stock expense | 388 | 388 | ||||
ESOP shares allocated | 201 | 69 | 132 | |||
Other comprehensive income gain (loss) | (34) | (34) | ||||
Balance at end of period (in shares) at Sep. 30, 2014 | 20,507,248 | |||||
Balance at end of period at Sep. 30, 2014 | $ 378,048 | $ 205 | 224,434 | 162,588 | (9,390) | 211 |
Balance at beginning of period (in shares) at Jun. 30, 2015 | 20,632,008 | 19,488,449 | ||||
Balance at beginning of period at Jun. 30, 2015 | $ 371,050 | $ 195 | 210,621 | 168,357 | (8,993) | 870 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net income | 2,564 | 2,564 | ||||
Stock repurchased (in shares) | (414,362) | |||||
Stock repurchased | $ (7,371) | $ (4) | (7,367) | |||
Forfeited restricted stock (in shares) | (450) | |||||
Exercised stock options (in shares) | 400 | 400 | ||||
Exercised stock options | $ 6 | 6 | ||||
Stock option expense | 442 | 442 | ||||
Restricted stock expense | 346 | 346 | ||||
ESOP shares allocated | 235 | 103 | 132 | |||
Other comprehensive income gain (loss) | $ 876 | 876 | ||||
Balance at end of period (in shares) at Sep. 30, 2015 | 20,335,781 | 19,074,037 | ||||
Balance at end of period at Sep. 30, 2015 | $ 368,148 | $ 191 | $ 204,151 | $ 170,921 | $ (8,861) | $ 1,746 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 3 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
Operating Activities: | ||
Net income | $ 2,564 | $ 2,256 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Recovery of loan losses | 0 | (250) |
Depreciation | 1,046 | 760 |
Deferred income tax expense | 1,571 | 668 |
Net amortization and accretion | (1,442) | (491) |
Gain on sale and impairment of REO | (21) | (36) |
Gain on sale of loans held for sale | (455) | (430) |
Origination of loans held for sale | (22,561) | (16,776) |
Proceeds from sales of loans held for sale | 24,878 | 17,111 |
Increase (decrease) in deferred loan fees, net | 153 | (620) |
Increase (decrease) in accrued interest receivable and other assets | 7,544 | (387) |
Amortization of core deposit intangibles | 774 | 413 |
Earnings from bank owned life insurance | (509) | (467) |
ESOP compensation expense | 235 | 201 |
Restricted stock and stock option expense | 788 | 673 |
Decrease in other liabilities | (3,031) | (5,566) |
Net cash provided by (used in) operating activities | 11,534 | (2,941) |
Investing Activities: | ||
Purchase of securities available for sale | (11,100) | (5,303) |
Proceeds from maturities of securities available for sale | 13,060 | 16,000 |
Net decrease in commercial paper | 13,224 | 0 |
Purchase of certificates of deposit in other banks | (7,453) | (23,935) |
Maturities of certificates of deposit in other banks | 21,696 | 11,846 |
Principal repayments of mortgage-backed securities | 7,320 | 5,792 |
Net purchases of other investments | (42) | (8,270) |
Net increase in loans | (55,842) | (24,575) |
Purchase of premises and equipment | (420) | (3,197) |
Capital improvements to REO | 0 | (42) |
Proceeds from sale of REO | 639 | 1,822 |
Acquisition of Bank of Commerce, net of cash received | 0 | (7,759) |
Net cash used in investing activities | (18,918) | (37,621) |
Financing Activities: | ||
Net decrease in deposits | (52,176) | (17,669) |
Net increase in other borrowings | 1,000 | 46,828 |
Common stock repurchased | (7,371) | (2,538) |
Exercised stock options | 6 | 339 |
Decrease in capital lease obligations | (5) | (5) |
Net cash provided by (used in) financing activities | (58,546) | 26,955 |
Net Decrease in Cash and Cash Equivalents | (65,930) | (13,607) |
Cash and Cash Equivalents at Beginning of Period | 116,160 | |
Cash and Cash Equivalents at End of Period | 50,230 | |
Cash paid during the period for: | ||
Interest | 1,445 | 1,298 |
Income taxes | 100 | 120 |
Noncash transactions: | ||
Unrealized gain (loss) in value of securities available for sale, net of income taxes | 876 | (34) |
Transfers of loans to REO | 228 | 309 |
Business Combinations: | ||
Assets acquired | 0 | 124,956 |
Liabilities assumed | 0 | 114,956 |
Net assets acquired | $ 0 | $ 10,000 |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 3 Months Ended |
Sep. 30, 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 ("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 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, 2015 (" 2015 Form 10-K") filed with the SEC on September 11, 2015 . The results of operations for the three months ended September 30, 2015 are not necessarily indicative of results that may be expected for the entire fiscal year ending June 30, 2016 . 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 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 and acquired loans, (iii) the valuation of REO, (iv) the valuation of goodwill and other intangible assets, 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 2015 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 Pronouncement
Recent Accounting Pronouncements | 3 Months Ended |
Sep. 30, 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 was effective, for the Company, for interim and annual reporting periods beginning after June 30, 2015. The adoption of ASU No. 2014-04 did not 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 were 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 did not 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. 2015-01 is not expected to have a material impact on the Company's Consolidated Financial Statements. In April 2015, FASB issued ASU No. 2015-05, "Customer's Accounting for Fees Paid in a Cloud Computing Arrangement." The amendments in this ASU provide guidance to customers in cloud computing arrangements about whether a cloud computing arrangement includes a software license. If a cloud computing arrangement includes a software license, the customer should account for the software license element of the arrangement consistent with the acquisition of other software licenses. If a cloud computing arrangement does not include a software license, the customer should account for the arrangement as a service contract. The amendments are effective for annual periods, including interim periods within those annual periods, beginning after December 15, 2015. Early adoption is permitted. This ASU is not expected to have a material effect on the Company's Consolidated Financial Statements. In June 2015, FASB issued ASU No. 2015-10, "Technical Corrections and Improvements." On November 10, 2010 FASB added a standing project that will facilitate the FASB Accounting Standards Codification ("Codification”) updates for technical corrections, clarifications, and improvements. These amendments are referred to as Technical Corrections and Improvements. Maintenance updates include non-substantive corrections to the Codification, such as editorial corrections, various link-related changes, and changes to source fragment information. This update contains amendments that will affect a wide variety of Topics in the Codification. The amendments in this ASU will apply to all reporting entities within the scope of the affected accounting guidance and generally fall into one of four categories: amendments related to differences between original guidance and the Codification, guidance clarification and reference corrections, simplification, and minor improvements. In summary, the amendments in this ASU represent changes to clarify the Codification, correct unintended application of guidance, or make minor improvements to the Codification that are not expected to have a significant effect on current accounting practice. Transition guidance varies based on the amendments in this ASU. The amendments in this ASU that require transition guidance are effective for fiscal years and interim reporting periods after December 15, 2015. Early adoption is permitted including adoption in an interim period. All other amendments are effective upon the issuance of this ASU. ASU 2015-10 did not have a material impact on the Company's Consolidated Financial Statements. In August 2015, the FASB issued ASU No. 2015-15, "Interest-Imputation of Interest (Subtopic 835-30), Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements." The ASU provides guidance not previously included in ASU 2015-03 regarding debt issuance related to line-of-credit arrangements. The amendment allows an entity to present debt issuance costs as an asset and subsequently amortize the deferred debt issuance costs over the term of the line-of-credit arrangement, regardless if there are any outstanding borrowings on the line-of-credit arrangement. The amendment is effective for fiscal years beginning after December 15, 2015. The adoption of ASU No. 2015-15 is not expected to have a material impact on the Company's Consolidated Financial Statements. In September 2015, the FASB issued ASU No. 2015-16, "Business Combinations (Topic 805)". The ASU simplifies the accounting for measurement period adjustments. The amendments require that an acquirer recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period when the adjustment amounts are determined. The acquirer is required to record in the same period's financial statements the effect on earnings from changes in depreciation, amortization, or other income effects resulting from the change to provisional amounts, calculated as if the accounting had been completed at the acquisition date. The acquirer must present separately on the income statement, or disclose in the notes, the amount recorded in current-period earnings that would have been recorded in previous reporting periods if the provisional amount had been recognized at the acquisition date. For public business entities, the amendments are effective for fiscal years beginning after December 15, 2015, including interim periods within those fiscal years. The adoption of ASU No. 2015-16 is not expected to have a material impact on the Company's Consolidated Financial Statements. |
Business Combinations
Business Combinations | 3 Months Ended |
Sep. 30, 2015 | |
Business Combinations [Abstract] | |
Business Combinations | Business Combinations All business combinations are 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. 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 following table presents the consideration paid by the Bank in the Branch Acquisition and the assets acquired and liabilities assumed as of November 14, 2014: As Recorded By Bank of America Fair Value and Other Merger Related Adjustments 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 $ — $ 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 — 7,936 7,936 Total assets acquired $ 328,024 $ 10,979 $ 339,003 Liabilities Deposits $ 328,007 $ 1,174 $ 329,181 Other liabilities 17 — 17 Total liabilities assumed $ 328,024 $ 1,174 $ 329,198 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. 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 $1,922 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 By Bank of Commerce Fair Value and Other Merger Related Adjustments As Recorded by the 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 (2,855 ) 86,484 Federal Home Loan Bank ("FHLB") Stock 791 — 791 REO 224 (14 ) 210 Premises and equipment, net 135 — 135 Accrued interest receivable 355 (100 ) 255 Deferred income taxes 286 2,839 3,125 Core deposit intangibles — 640 640 Other assets 4,931 (6 ) 4,925 Total assets acquired $ 122,530 $ 504 $ 123,034 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 $ 220 $ 8,078 Goodwill $ 1,922 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 Performing PCI Total 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 29,048 30,047 59,095 Construction and development 202 3,020 3,222 Commercial and industrial 5,402 3,877 9,279 Total $ 46,229 $ 40,255 $ 86,484 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. 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 $7,949 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 Recorded by Jefferson Fair Value and Other Merger Related Adjustments As Recorded by the 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 (675 ) 85,069 Loans, net of allowance 338,616 (8,704 ) 329,912 FHLB Stock 4,635 — 4,635 REO 3,288 (1,064 ) 2,224 Premises and equipment, net 24,662 (1,487 ) 23,175 Accrued interest receivable 1,367 (90 ) 1,277 Deferred income taxes 9,606 3,637 13,243 Core deposit intangibles 847 2,683 3,530 Other assets 7,171 (393 ) 6,778 Total assets acquired $ 494,261 $ (6,093 ) $ 488,168 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 $ (9,862 ) 42,541 Goodwill $ 7,949 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 Performing PCI Total 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 3,690 2 3,692 Commercial: Commercial real estate 119,635 15,649 135,284 Construction and development 24,658 1,012 25,670 Commercial and industrial 52,863 6,350 59,213 Total $ 299,891 $ 30,021 $ 329,912 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. On October 27, 2015, additional contingent cash consideration of $0.41 per share (or approximately $484 ) was paid at the expiration of a 24 month performance period on a select pool of loans totaling approximately $8,000 . 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 by BankGreenville Fair Value and Other Merger Related Adjustments As Recorded by the 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 after 24 months based on performance of a select pool of loans totaling approximately $8,000 . Actual amount paid was $484 on October 27, 2015. 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 Performing PCI Total 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 |
Securities Available For Sale
Securities Available For Sale | 3 Months Ended |
Sep. 30, 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: September 30, 2015 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value U.S. Government Agencies $ 113,429 $ 839 $ — $ 114,268 Residential Mortgage-backed Securities of U.S. Government Agencies and Government-Sponsored Enterprises 112,977 1,220 (92 ) 114,105 Municipal Bonds 16,713 572 (22 ) 17,263 Corporate Bonds 3,884 128 — 4,012 Equity Securities 63 — — 63 Total $ 247,066 $ 2,759 $ (114 ) $ 249,711 June 30, 2015 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value U.S. Government Agencies $ 115,683 $ 455 $ (67 ) $ 116,071 Residential Mortgage-backed Securities of U.S. Government Agencies and Government-Sponsored Enterprises 120,294 674 (159 ) 120,809 Municipal Bonds 16,359 372 (53 ) 16,678 Corporate Bonds 3,889 96 — 3,985 Equity Securities 63 — — 63 Total $ 256,288 $ 1,597 $ (279 ) $ 257,606 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. September 30, 2015 Amortized Cost Estimated Fair Value Due within one year $ 314 $ 314 Due after one year through five years 83,887 84,293 Due after five years through ten years 46,066 47,041 Due after ten years 3,759 3,895 Mortgage-backed securities 112,977 114,105 Total $ 247,003 $ 249,648 The Company had no sales of securities available for sale during the three months ended September 30, 2015 and 2014. Securities available for sale with costs totaling $180,071 and $181,404 with market values of $181,825 and $182,217 at September 30, 2015 and June 30, 2015 , respectively, were pledged as collateral to secure various public deposits. The gross unrealized losses and the fair value for securities available for sale aggregated by the length of time that individual securities have been in a continuous unrealized loss position as of September 30, 2015 and June 30, 2015 were as follows: September 30, 2015 Less than 12 Months 12 Months or More Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses U.S. Government Agencies $ — $ — $ — $ — $ — $ — Residential Mortgage-backed Securities of U.S. Government Agencies and Government- Sponsored Enterprises 6,684 (17 ) 7,312 (75 ) 13,996 (92 ) Municipal Bonds 1,125 (22 ) — — 1,125 (22 ) Total $ 7,809 $ (39 ) $ 7,312 $ (75 ) $ 15,121 $ (114 ) June 30, 2015 Less than 12 Months 12 Months or More Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses U.S. Government Agencies $ 35,793 $ (67 ) $ — $ — $ 35,793 $ (67 ) Residential Mortgage-backed Securities of U.S. Government Agencies and Government- Sponsored Enterprises 24,429 (81 ) 5,037 (78 ) 29,466 (159 ) Municipal Bonds 3,920 (53 ) — — 3,920 (53 ) Total $ 64,142 $ (201 ) $ 5,037 $ (78 ) $ 69,179 $ (279 ) The total number of securities with unrealized losses at September 30, 2015 , and June 30, 2015 were 54 and 81 , respectively. Unrealized losses on securities have not been recognized in income because management has the intent and ability to hold the securities for the foreseeable future, and has determined that it is not more likely than not that the Company will be required to sell the securities prior to a recovery in value. The decline in fair value was largely due to increases in market interest rates. The Company had no other than temporary impairment losses during the three months ended September 30, 2015 or the year ended June 30, 2015 . As a requirement for membership, the Bank invests in stock of the FHLB of Atlanta and the Federal Reserve Bank of Richmond ("FRB"). 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 FRB. |
Loans
Loans | 3 Months Ended |
Sep. 30, 2015 | |
Receivables [Abstract] | |
Loans | Loans Loans consist of the following at the dates indicated: September 30, 2015 June 30, 2015 Retail consumer loans: One-to-four family $ 645,737 $ 650,750 Home equity lines of credit - originated 160,622 161,204 Home equity lines of credit - purchased 102,136 72,010 Construction and land/lots 44,718 45,931 Indirect auto finance 70,564 52,494 Consumer 3,849 3,708 Total retail consumer loans 1,027,626 986,097 Commercial loans: Commercial real estate 452,772 441,620 Construction and development 72,742 64,573 Commercial and industrial 81,497 84,820 Municipal leases 107,477 108,574 Total commercial loans 714,488 699,587 Total loans 1,742,114 1,685,684 Deferred loan costs, net 176 23 Total loans, net of deferred loan fees and discount 1,742,290 1,685,707 Allowance for loan and lease losses (22,112 ) (22,374 ) Loans, net $ 1,720,178 $ 1,663,333 All the qualifying one-to-four family first mortgage loans, home equity lines of credit ("HELOCs") - originated, 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 Mention Substandard Doubtful Loss Total September 30, 2015 Retail consumer loans: One-to-four family $ 597,149 $ 9,041 $ 28,416 $ 1,268 $ 8 $ 635,882 HELOCs - originated 155,144 991 4,044 145 4 160,328 HELOCs - purchased 102,136 — — — — 102,136 Construction and land/lots 41,523 631 1,739 124 — 44,017 Indirect auto finance 70,548 16 — — — 70,564 Consumer 3,349 42 265 100 83 3,839 Commercial loans: Commercial real estate 402,036 9,733 13,220 115 — 425,104 Construction and development 62,510 830 4,585 — — 67,925 Commercial and industrial 71,563 1,836 3,105 — 2 76,506 Municipal leases 105,185 1,722 570 — — 107,477 Total loans $ 1,611,143 $ 24,842 $ 55,944 $ 1,752 $ 97 $ 1,693,778 Pass Special Mention Substandard Doubtful Loss Total June 30, 2015 Retail consumer loans: One-to-four family $ 598,417 $ 11,563 $ 28,656 $ 1,772 $ 12 $ 640,420 HELOCs - originated 155,899 580 4,020 407 3 160,909 HELOCs - purchased 72,010 — — — — 72,010 Construction and land/lots 42,689 650 1,754 124 — 45,217 Indirect auto finance 52,396 59 39 — — 52,494 Consumer 3,610 16 32 — 39 3,697 Commercial loans: Commercial real estate 384,525 12,762 13,972 182 — 411,441 Construction and development 50,815 3,567 5,413 — — 59,795 Commercial and industrial 73,774 953 4,781 — 2 79,510 Municipal leases 106,260 1,733 581 — — 108,574 Total loans $ 1,540,395 $ 31,883 $ 59,248 $ 2,485 $ 56 $ 1,634,067 The Company's total PCI loans by segment, class, and risk grade at the dates indicated follow: Pass Special Mention Substandard Doubtful Loss Total September 30, 2015 Retail consumer loans: One-to-four family $ 5,045 $ 831 $ 3,964 $ 15 $ — $ 9,855 HELOCs - originated 259 — 35 — — 294 Construction and land/lots 565 — 136 — — 701 Consumer 10 — — — — 10 Commercial loans: Commercial real estate 19,904 3,907 3,857 — — 27,668 Construction and development 2,236 138 2,443 — — 4,817 Commercial and industrial 4,046 271 674 — — 4,991 Total loans $ 32,065 $ 5,147 $ 11,109 $ 15 $ — $ 48,336 Pass Special Mention Substandard Doubtful Loss Total June 30, 2015 Retail consumer loans: One-to-four family $ 5,176 $ 1,210 $ 3,890 $ 54 $ — $ 10,330 HELOCs - originated 259 — 36 — — 295 Construction and land/lots 571 — 143 — — 714 Consumer 11 — — — — 11 Commercial loans: Commercial real estate 21,550 3,454 5,175 — — 30,179 Construction and development 2,292 146 2,340 — — 4,778 Commercial and industrial 4,349 279 682 — — 5,310 Total loans $ 34,208 $ 5,089 $ 12,266 $ 54 $ — $ 51,617 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 September 30, 2015 Retail consumer loans: One-to-four family $ 4,533 $ 9,185 $ 13,718 $ 632,019 $ 645,737 HELOCs - originated 498 319 817 159,805 160,622 HELOCs - purchased — — — 102,136 102,136 Construction and land/lots 90 370 460 44,258 44,718 Indirect auto finance — — — 70,564 70,564 Consumer 122 — 122 3,727 3,849 Commercial loans: Commercial real estate 3,393 6,722 10,115 442,657 452,772 Construction and development 3,106 2,085 5,191 67,551 72,742 Commercial and industrial 632 2,971 3,603 77,894 81,497 Municipal leases — 202 202 107,275 107,477 Total loans $ 12,374 $ 21,854 $ 34,228 $ 1,707,886 $ 1,742,114 The table above includes PCI loans of $1,161 30-89 days past due and $2,993 90 days or more past due as of September 30, 2015 . Past Due Total 30-89 Days 90 Days+ Total Current Loans June 30, 2015 Retail consumer loans: One-to-four family $ 5,548 $ 8,261 $ 13,809 $ 636,941 $ 650,750 HELOCs - originated 695 808 1,503 159,701 161,204 HELOCs - purchased — — — 72,010 72,010 Construction and land/lots 102 307 409 45,522 45,931 Indirect auto finance — — — 52,494 52,494 Consumer 23 2 25 3,683 3,708 Commercial loans: Commercial real estate 2,758 4,636 7,394 434,226 441,620 Construction and development 166 2,992 3,158 61,415 64,573 Commercial and industrial 439 2,898 3,337 81,483 84,820 Municipal leases 202 — 202 108,372 108,574 Total loans $ 9,933 $ 19,904 $ 29,837 $ 1,655,847 $ 1,685,684 The table above includes PCI loans of $513 30-89 days past due and $3,198 90 days or more past due as of June 30, 2015 . 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: September 30, 2015 June 30, 2015 Nonaccruing 90 Days + & still accruing Nonaccruing 90 Days + & still accruing Retail consumer loans: One-to-four family $ 10,811 $ — $ 10,523 $ — HELOCs - originated 1,540 — 1,856 — Construction and land/lots 524 — 465 — Consumer 98 — 49 — Commercial loans: Commercial real estate 6,870 — 5,103 — Construction and development 2,207 — 3,461 — Commercial and industrial 2,546 — 3,081 — Municipal leases 305 — 316 — Total loans $ 24,901 $ — $ 24,854 $ — PCI loans totaling $8,090 at September 30, 2015 and $8,158 at June 30, 2015 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: September 30, 2015 June 30, 2015 Performing TDRs included in impaired loans $ 21,783 $ 21,891 An analysis of the allowance for loan losses by segment for the periods shown is as follows: Three Months Ended September 30, 2015 Three Months Ended September 30, 2014 PCI Retail Consumer Commercial Total Retail Consumer Commercial Total Balance at beginning of period $ 401 $ 12,575 $ 9,398 $ 22,374 $ 15,731 $ 7,698 $ 23,429 Provision for (recovery of) loan losses (73 ) 73 — — (674 ) 424 (250 ) Charge-offs — (469 ) (334 ) (803 ) (479 ) (197 ) (676 ) Recoveries — 247 294 541 367 210 577 Balance at end of period $ 328 $ 12,426 $ 9,358 $ 22,112 $ 14,945 $ 8,135 $ 23,080 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 individually evaluated for impairment Loans collectively evaluated Total PCI Loans individually evaluated for impairment Loans collectively evaluated Total September 30, 2015 Retail consumer loans: One-to-four family $ 9 $ 329 $ 7,813 $ 8,151 $ 9,855 $ 15,389 $ 620,493 $ 645,737 HELOCs - originated 3 259 1,432 1,694 294 1,147 159,181 160,622 HELOCs - purchased — — 409 409 — — 102,136 102,136 Construction and land/lots — 350 1,159 1,509 701 1,342 42,675 44,718 Indirect auto finance — — 569 569 — — 70,564 70,564 Consumer — 83 99 182 10 — 3,839 3,849 Commercial loans: Commercial real estate 297 — 5,421 5,718 27,668 7,722 417,382 452,772 Construction and development — — 1,523 1,523 4,817 2,597 65,328 72,742 Commercial and industrial 19 936 737 1,692 4,991 2,445 74,061 81,497 Municipal leases — — 665 665 — 305 107,172 107,477 Total $ 328 $ 1,957 $ 19,827 $ 22,112 $ 48,336 $ 30,947 $ 1,662,831 $ 1,742,114 June 30, 2015 Retail consumer loans: One-to-four family $ 35 $ 492 $ 7,463 $ 7,990 $ 10,330 $ 22,841 $ 617,579 $ 650,750 HELCOs - originated 3 275 1,499 1,777 295 2,608 158,301 161,204 HELOCs - purchased — — 432 432 — — 72,010 72,010 Construction and land/lots — 531 1,291 1,822 714 1,926 43,291 45,931 Indirect auto finance — — 464 464 — — 52,494 52,494 Consumer — 39 89 128 11 45 3,652 3,708 Commercial loans: Commercial real estate 334 — 6,005 6,339 30,179 10,961 400,480 441,620 Construction and development — 119 1,462 1,581 4,778 5,161 54,634 64,573 Commercial and industrial 29 400 675 1,104 5,310 4,537 74,973 84,820 Municipal leases — — 737 737 — 316 108,258 108,574 Total $ 401 $ 1,856 $ 20,117 $ 22,374 $ 51,617 $ 48,395 $ 1,585,672 $ 1,685,684 During the quarter ended September 30, 2015, the Company increased its thresholds for loans individually evaluated for impairment under ASC 310-10. These changes primarily impacted the retail consumer loan segment, which contains loan that are more homogeneous in nature. This increase was appropriate given the growth in loans as well as the improvement in the overall credit quality of the portfolio. While these changes decreased the loans individually evaluated for impairment by $11,913, it did not have a material impact on the Company’s allowance for loan losses at September 30, 2015 or provision for loan losses for the quarter ended September 30, 2015. Loans acquired from acquisitions are initially excluded from the allowance for loan losses in accordance with the acquisition method of accounting for business combinations. The Company records these loans at fair value, which includes a credit discount, therefore, no allowance for loan losses are 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 Principal Balance Recorded Investment With a Recorded Allowance Recorded Investment With No Recorded Allowance Total Related Recorded Allowance September 30, 2015 Retail consumer loans: One-to-four family $ 30,335 $ 12,677 $ 15,634 $ 28,311 $ 455 HELOCs - originated 4,461 2,673 664 3,337 278 Construction and land/lots 3,179 1,517 486 2,003 365 Indirect auto finance — — — — — Consumer 2,462 81 43 124 86 Commercial loans: Commercial real estate 10,627 1,647 8,130 9,777 323 Construction and development 3,225 487 3,265 3,752 12 Commercial and industrial 1,993 2,997 33 3,030 962 Municipal leases 305 — 305 305 — Total impaired loans $ 56,587 $ 22,079 $ 28,560 $ 50,639 $ 2,481 June 30, 2015 Retail consumer loans: One-to-four family $ 31,590 $ 10,340 $ 19,164 $ 29,504 $ 598 HELOCs - originated 6,019 2,565 1,543 4,108 294 Construction and land/lots 3,303 1,225 758 1,983 533 Indirect auto finance 10 — — — — Consumer 1,966 13 45 58 39 Commercial loans: Commercial real estate 13,829 696 10,971 11,667 412 Construction and development 6,615 1,268 4,241 5,509 64 Commercial and industrial 5,668 688 4,051 4,739 431 Municipal leases 316 — 316 316 — Total impaired loans $ 69,316 $ 16,795 $ 41,089 $ 57,884 $ 2,371 Impaired loans above excludes $842 at September 30, 2015 and $644 at June 30, 2015 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 $19,692 and $9,492 , of impaired loans that were not individually evaluated at September 30, 2015 and June 30, 2015 , respectively, because these loans did not meet the Company's threshold for individual impairment evaluation. The recorded allowance above includes $524 and $515 related to these loans that were not individually evaluated at September 30, 2015 and June 30, 2015 , respectively. The Company's average recorded investment in impaired loans and interest income recognized on impaired loans for the three months ended September 30, 2015 and 2014 was as follows: Three Months Ended September 30, 2015 September 30, 2014 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized Retail consumer loans: One-to-four family $ 28,907 $ 338 $ 31,842 $ 451 HELOCs - originated 3,722 50 4,710 75 Construction and land/lots 1,993 28 2,098 36 Indirect auto finance — 1 — — Consumer 91 14 31 3 Commercial loans: Commercial real estate 10,722 38 16,903 210 Construction and development 4,631 14 6,103 32 Commercial and industrial 3,885 13 2,901 76 Municipal leases 311 10 152 — Total loans $ 54,262 $ 506 $ 64,740 $ 883 A summary of changes in the accretable yield for PCI loans for the three months ended September 30, 2015 and 2014 was as follows: Three Months Ended September 30, 2015 September 30, 2014 Accretable yield, beginning of period $ 11,096 $ 6,151 Addition from the Bank of Commerce acquisition — 7,315 Reclass from nonaccretable yield (1) 366 — Other changes, net (2) (111 ) — Interest income (1,588 ) (931 ) Accretable yield, end of period $ 9,763 $ 12,535 ______________________________________ (1) Represents changes attributable to expected losses assumptions. (2) Represents changes in cash flows expected to be collected due to the impact of modifications, changes in prepayment assumptions, and changes in interest rates. For the three months ended September 30, 2015 and 2014 , the following table presents a breakdown of the types of concessions made on TDRs by loan class: Three Months Ended September 30, 2015 Three Months Ended September 30, 2014 Number of Loans Pre Modification Outstanding Recorded Investment Post Modification Outstanding Recorded Investment Number of Loans Pre Modification Outstanding Recorded Investment Post Modification Outstanding Recorded Investment Extended term: Retail consumer: One-to-four family 1 $ 29 $ 29 1 $ 146 $ 147 HELOCs - originated 1 18 14 1 46 46 Total 2 $ 47 $ 43 2 $ 192 $ 193 Other TDRs: Retail consumer: One-to-four family 6 $ 523 $ 528 4 $ 314 $ 324 HELOCs - originated — — — 1 100 105 Construction and land/lots — — — 1 106 100 Total 6 $ 523 $ 528 6 $ 520 $ 529 Total 8 $ 570 $ 571 8 $ 712 $ 722 The following table presents loans that were modified as TDRs within the previous 12 months and for which there was a payment default during the three months ended September 30, 2015 and 2014 : Three Months Ended September 30, 2015 Three Months Ended September 30, 2014 Number of Loans Recorded Investment Number of Loans Recorded Investment Below market interest rate: Retail consumer: One-to-four family 1 $ 6 — $ — Total 1 $ 6 — $ — Other TDRs: Retail consumer: One-to-four family 1 $ 182 4 $ 312 HELOCs - originated 1 — — — Total 2 $ 182 4 $ 312 Total 3 $ 188 4 $ 312 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 | 3 Months Ended |
Sep. 30, 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 September 30, 2015 2014 Numerator: Net income available to common stockholders $ 2,564 $ 2,256 Denominator: Weighted-average common shares outstanding - basic 18,077,987 19,178,607 Effect of dilutive shares 213,042 64,115 Weighted-average common shares outstanding - diluted 18,291,029 19,242,722 Net income per share - basic $ 0.14 $ 0.12 Net income per share - diluted $ 0.14 $ 0.12 There were 40,000 and 1,495,500 outstanding stock options that were anti-dilutive for the three months ended September 30, 2015 and 2014 , respectively. |
Equity Incentive Plan
Equity Incentive Plan | 3 Months Ended |
Sep. 30, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Equity Incentive Plan | Equity Incentive Plan The Company provides stock-based awards through 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 September 30, 2015 and 2014 was $788 and $753 , respectively, before the tax related benefit of $292 and $279 , respectively. The table below presents stock option activity for the three months ended September 30, 2015 and 2014 : Options Weighted- average exercise price Remaining contractual life (years) Aggregate Intrinsic Value Options outstanding at June 30, 2014 1,513,500 $ 14.40 8.6 $ 2,077 Granted — — — — Exercised 18,000 14.37 — — Forfeited — — — — Expired — — — — Options outstanding at September 30, 2014 1,495,500 $ 14.40 8.4 $ 352 Exercisable at September 30, 2014 272,175 $ 14.37 Options outstanding at June 30, 2015 1,498,000 $ 14.41 7.7 $ 3,519 Granted — — — — Exercised 400 14.37 — — Forfeited 1,200 14.37 — — Expired — — — — Options outstanding at September 30, 2015 $ 1,496,400 $ 14.41 7.4 $ 6,194 Exercisable at September 30, 2015 548,150 $ 14.39 The fair value of each option is estimated on the date of grant using the Black-Scholes-Merton option pricing model. There were no options granted in fiscal year 2016 as of September 30, 2015. The weighted average fair value of each option granted in 2015 and 2014 was $3.59 and $5.26 , respectively. Assumptions used for grants were as follows: Assumptions in Estimating Option Values 2016 2015 2014 Weighted-average volatility — % 18.90 % 28.19 % Expected dividend yield — % — % — % Risk-free interest rate — % 1.56 % 1.28 % Expected life (years) 0 6.0 6.5 At September 30, 2015 , the Company had $3,238 of unrecognized compensation expense related to 1,496,400 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 1.5 years at September 30, 2015 . At September 30, 2014 , the Company had $4,655 of unrecognized compensation expense related to 1,495,500 stock options scheduled to vest over five - and seven -year vesting periods. The weighted average period over which compensation cost related to non-vested awards expected to be recognized was 2.0 years at September 30, 2014 . The table below presents restricted stock award activity for the three months ended September 30, 2015 and 2014 : Restricted stock awards Weighted- average grant date fair value Aggregate Intrinsic Value Non-vested at June 30, 2014 403,965 $ 14.39 $ 6,371 Granted — — — Vested — — — Forfeited — — — Non-vested at September 30, 2014 403,965 $ 14.39 $ 5,902 Non-vested at June 30, 2015 310,470 $ 14.40 $ 5,203 Granted — — — Vested — — — Forfeited 450 14.37 — Non-vested at September 30, 2015 310,020 $ 14.40 $ 5,751 At September 30, 2015 , unrecognized compensation expense was $3,462 related to 310,020 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 1.5 years at September 30, 2015 . At September 30, 2014 , unrecognized compensation expense was $4,876 related to 403,965 shares of restricted stock scheduled to vest over five - and seven -year vesting periods. The weighted average period over which compensation cost related to non-vested awards is expected to be recognized was 2.0 years at September 30, 2014 . |
Commitments and Contingencies
Commitments and Contingencies | 3 Months Ended |
Sep. 30, 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 September 30, 2015 and June 30, 2015 , respectively, loan commitments (excluding $66,825 and $43,989 of undisbursed portions of construction loans) totaled $56,739 and $43,629 of which $29,002 and $24,020 were variable rate commitments and $27,736 and $19,608 were fixed rate commitments. The fixed rate loans had interest rates ranging from 1.99% to 8.74% at September 30, 2015 and 1.99% to 9.75% at June 30, 2015 , 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 $296,735 and $250,762 at September 30, 2015 and June 30, 2015 , respectively. These amounts represent the Company's exposure to credit risk, and in the opinion of management have no more than the normal lending risk that the Company commits to its borrowers. The Company has freestanding derivative instruments consisting of commitments to originate fixed rate conforming loans and commitments to sell fixed rate conforming loans. The fair value of these commitments was not material at September 30, 2015 or June 30, 2015 . The Company grants construction and permanent loans collateralized primarily by residential and commercial real estate to customers throughout its primary market area. In addition, the Company grants municipal leases to customers throughout North and South Carolina. The Company's loan portfolio can be affected by the general economic conditions within these market areas. Management believes that the Company has no concentration of credit in the loan portfolio. Restrictions on Cash – The Bank is required by regulation to maintain a varying cash reserve balance with the Federal Reserve System. The daily average calculated cash reserve required as of September 30, 2015 and June 30, 2015 was $4,693 , and $1,743 , 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 September 30, 2015 and June 30, 2015 were $2,739 and $2,533 . There was no liability recorded for these letters of credit at September 30, 2015 or June 30, 2015 , respectively. Litigation – The Company is involved in several litigation matters in the ordinary course of business. One matter, originally filed in March 2012, involved 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 appeal was dropped on September 25, 2015. The Company considers this matter resolved. 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 Instrum
Fair Value of Financial Instruments | 3 Months Ended |
Sep. 30, 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. Level 3 securities include one community bank corporate bond that is thinly traded. Loans The Company does not record loans at fair value on a recurring basis. From time to time, however, a loan is considered impaired and an allowance for loan losses is established. Loans for which it is probable that payment of interest and principal will not be made in accordance with the contractual terms of the loan agreement are considered impaired. Once a loan is identified as individually impaired, the fair value is estimated using one of several methods, including collateral value, market value of similar debt, enterprise value, liquidation value and discounted cash flows. The Company reviews all impaired loans each quarter to determine if an allowance is necessary. Those impaired loans not requiring an allowance represent loans for which the fair value of the expected repayments or collateral exceed the recorded investments in such loans. At September 30, 2015 and June 30, 2015 , 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. Impaired loans where a charge-off has occurred or an allowance is established during the period being reported require classification as a nonrecurring Level 3 in the fair value hierarchy. 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 that has been charged off or received an allowance during the period as nonrecurring Level 3. Financial Assets Recorded at Fair Value on a Recurring Basis The following table presents financial assets measured at fair value on a recurring basis at the dates indicated: September 30, 2015 Description Total Level 1 Level 2 Level 3 U.S Government Agencies $ 114,268 $ — $ 114,268 $ — Residential Mortgage-backed Securities of U.S. Government Agencies and Government Sponsored Enterprises 114,105 — 114,105 — Municipal Bonds 17,263 — 17,263 — Corporate Bonds 4,012 — 3,012 1,000 Equity Securities 63 — 63 — Total $ 249,711 $ — $ 248,711 $ 1,000 June 30, 2015 Description Total Level 1 Level 2 Level 3 U.S Government Agencies $ 116,071 $ — $ 116,071 $ — Residential Mortgage-backed Securities of U.S. Government Agencies and Government Sponsored Enterprises 120,809 — 120,809 — Municipal Bonds 16,678 — 16,678 — Corporate Bonds 3,985 — 2,985 1,000 Equity Securities $ 63 $ — $ 63 $ — Total $ 257,606 $ — $ 256,606 $ 1,000 There were no transfers between levels during the three months ended September 30, 2015. The following table presents financial assets measured at fair value on a non-recurring basis at the dates indicated: September 30, 2015 Description Total Level 1 Level 2 Level 3 Impaired loans $ 4,663 $ — $ — $ 4,663 REO 140 — — 140 Total $ 4,803 $ — $ — $ 4,803 June 30, 2015 Description Total Level 1 Level 2 Level 3 Impaired loans $ 5,697 $ — $ — $ 5,697 REO 1,685 — — 1,685 Total $ 7,382 $ — $ — $ 7,382 Quantitative information about Level 3 fair value measurements during the period ended September 30, 2015 is shown in the table below: Fair Value at September 30, 2015 Valuation Techniques Unobservable Input Range Weighted Average Nonrecurring measurements: Impaired loans, net $ 4,663 Discounted appraisals Collateral discounts 3% - 80% 14% REO $ 140 Discounted appraisals Collateral discounts 10% - 15% 15% The stated carrying value and estimated fair value amounts of financial instruments as of September 30, 2015 and June 30, 2015 , are summarized below: September 30, 2015 Carrying Value Fair Value Level 1 Level 2 Level 3 Cash and interest-bearing deposits $ 50,230 $ 50,230 $ 50,230 $ — $ — Commercial paper 242,928 242,928 242,928 — — Certificates of deposit in other banks 196,386 196,386 — 196,386 — Securities available for sale 249,711 249,711 — 248,711 1,000 Loans, net 1,720,178 1,639,956 — — 1,639,956 Loans held for sale 4,012 4,076 — — 4,076 FHLB stock 22,583 22,583 22,583 — — FRB stock 6,170 6,170 6,170 — — Accrued interest receivable 7,914 7,914 — 1,328 6,586 Noninterest-bearing and NOW deposits 582,626 582,626 — 582,626 — Money market accounts 483,939 483,939 — 483,939 — Savings accounts 216,689 216,689 — 216,689 — Certificates of deposit 536,696 536,699 — 536,699 — Other borrowings 476,000 476,000 — 476,000 — Accrued interest payable 174 174 — 174 — June 30, 2015 Carrying Value Fair Value Level 1 Level 2 Level 3 Cash and interest-bearing deposits $ 116,160 $ 116,160 $ 116,160 $ — $ — Commercial paper 256,152 256,152 256,152 — — Certificates of deposit in other banks 210,629 210,629 — 210,629 — Securities available for sale 257,606 257,606 — 256,606 1,000 Loans, net 1,663,333 1,555,992 — — 1,555,992 Loans held for sale 5,874 5,968 — — 5,968 FHLB stock 22,541 22,541 22,541 — — FRB stock 6,170 6,170 6,170 — — Accrued interest receivable 7,522 7,522 — 1,252 6,270 Noninterest-bearing and NOW deposits 591,429 591,429 — 591,429 — Money market accounts 481,948 481,948 — 481,948 — Savings accounts 221,674 221,674 — 221,674 — Certificates of deposit 577,075 577,174 — 577,174 — Other borrowings 475,000 475,000 — 475,000 — Accrued interest payable 181 181 — 181 — The Company had off-balance sheet financial commitments, which include approximately $420,299 and $338,380 of commitments to originate loans, undisbursed portions of interim construction loans, and unused lines of credit at September 30, 2015 and June 30, 2015 , 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. Commercial paper - The stated amounts approximate fair value due to the short-term nature of these investments. 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. FHLB and FRB stock – No ready market exists for these stocks and they have no quoted market value. However, redemptions of these securities have historically been at par value. Accordingly, cost is deemed to be a reasonable estimate of fair value. Deposits – Fair values for demand deposits, money market accounts, and savings accounts are the amounts payable on demand as of September 30, 2015 and June 30, 2015 . 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 short-term 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. |
Summary of Significant Accoun17
Summary of Significant Accounting Policies (Policies) | 3 Months Ended |
Sep. 30, 2015 | |
Accounting Policies [Abstract] | |
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 was effective, for the Company, for interim and annual reporting periods beginning after June 30, 2015. The adoption of ASU No. 2014-04 did not 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 were 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 did not 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. 2015-01 is not expected to have a material impact on the Company's Consolidated Financial Statements. In April 2015, FASB issued ASU No. 2015-05, "Customer's Accounting for Fees Paid in a Cloud Computing Arrangement." The amendments in this ASU provide guidance to customers in cloud computing arrangements about whether a cloud computing arrangement includes a software license. If a cloud computing arrangement includes a software license, the customer should account for the software license element of the arrangement consistent with the acquisition of other software licenses. If a cloud computing arrangement does not include a software license, the customer should account for the arrangement as a service contract. The amendments are effective for annual periods, including interim periods within those annual periods, beginning after December 15, 2015. Early adoption is permitted. This ASU is not expected to have a material effect on the Company's Consolidated Financial Statements. In June 2015, FASB issued ASU No. 2015-10, "Technical Corrections and Improvements." On November 10, 2010 FASB added a standing project that will facilitate the FASB Accounting Standards Codification ("Codification”) updates for technical corrections, clarifications, and improvements. These amendments are referred to as Technical Corrections and Improvements. Maintenance updates include non-substantive corrections to the Codification, such as editorial corrections, various link-related changes, and changes to source fragment information. This update contains amendments that will affect a wide variety of Topics in the Codification. The amendments in this ASU will apply to all reporting entities within the scope of the affected accounting guidance and generally fall into one of four categories: amendments related to differences between original guidance and the Codification, guidance clarification and reference corrections, simplification, and minor improvements. In summary, the amendments in this ASU represent changes to clarify the Codification, correct unintended application of guidance, or make minor improvements to the Codification that are not expected to have a significant effect on current accounting practice. Transition guidance varies based on the amendments in this ASU. The amendments in this ASU that require transition guidance are effective for fiscal years and interim reporting periods after December 15, 2015. Early adoption is permitted including adoption in an interim period. All other amendments are effective upon the issuance of this ASU. ASU 2015-10 did not have a material impact on the Company's Consolidated Financial Statements. In August 2015, the FASB issued ASU No. 2015-15, "Interest-Imputation of Interest (Subtopic 835-30), Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements." The ASU provides guidance not previously included in ASU 2015-03 regarding debt issuance related to line-of-credit arrangements. The amendment allows an entity to present debt issuance costs as an asset and subsequently amortize the deferred debt issuance costs over the term of the line-of-credit arrangement, regardless if there are any outstanding borrowings on the line-of-credit arrangement. The amendment is effective for fiscal years beginning after December 15, 2015. The adoption of ASU No. 2015-15 is not expected to have a material impact on the Company's Consolidated Financial Statements. In September 2015, the FASB issued ASU No. 2015-16, "Business Combinations (Topic 805)". The ASU simplifies the accounting for measurement period adjustments. The amendments require that an acquirer recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period when the adjustment amounts are determined. The acquirer is required to record in the same period's financial statements the effect on earnings from changes in depreciation, amortization, or other income effects resulting from the change to provisional amounts, calculated as if the accounting had been completed at the acquisition date. The acquirer must present separately on the income statement, or disclose in the notes, the amount recorded in current-period earnings that would have been recorded in previous reporting periods if the provisional amount had been recognized at the acquisition date. For public business entities, the amendments are effective for fiscal years beginning after December 15, 2015, including interim periods within those fiscal years. The adoption of ASU No. 2015-16 is not expected to have a material impact on the Company's Consolidated Financial Statements. |
Business Combinations (Tables)
Business Combinations (Tables) | 3 Months Ended |
Sep. 30, 2015 | |
Business Combinations [Abstract] | |
Schedule of Business Acquisitions | 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 by BankGreenville Fair Value and Other Merger Related Adjustments As Recorded by the 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 after 24 months based on performance of a select pool of loans totaling approximately $8,000 . 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 Recorded by Jefferson Fair Value and Other Merger Related Adjustments As Recorded by the 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 (675 ) 85,069 Loans, net of allowance 338,616 (8,704 ) 329,912 FHLB Stock 4,635 — 4,635 REO 3,288 (1,064 ) 2,224 Premises and equipment, net 24,662 (1,487 ) 23,175 Accrued interest receivable 1,367 (90 ) 1,277 Deferred income taxes 9,606 3,637 13,243 Core deposit intangibles 847 2,683 3,530 Other assets 7,171 (393 ) 6,778 Total assets acquired $ 494,261 $ (6,093 ) $ 488,168 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 $ (9,862 ) 42,541 Goodwill $ 7,949 The following table presents the consideration paid by the Bank in the Branch Acquisition and the assets acquired and liabilities assumed as of November 14, 2014: As Recorded By Bank of America Fair Value and Other Merger Related Adjustments 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 $ — $ 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 — 7,936 7,936 Total assets acquired $ 328,024 $ 10,979 $ 339,003 Liabilities Deposits $ 328,007 $ 1,174 $ 329,181 Other liabilities 17 — 17 Total liabilities assumed $ 328,024 $ 1,174 $ 329,198 Net identifiable assets acquired over liabilities assumed $ — $ 9,805 $ 9,805 Goodwill $ — 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 By Bank of Commerce Fair Value and Other Merger Related Adjustments As Recorded by the 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 (2,855 ) 86,484 Federal Home Loan Bank ("FHLB") Stock 791 — 791 REO 224 (14 ) 210 Premises and equipment, net 135 — 135 Accrued interest receivable 355 (100 ) 255 Deferred income taxes 286 2,839 3,125 Core deposit intangibles — 640 640 Other assets 4,931 (6 ) 4,925 Total assets acquired $ 122,530 $ 504 $ 123,034 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 $ 220 $ 8,078 Goodwill $ 1,922 |
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 Performing PCI Total 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 Jefferson as of May 31, 2014 consisted of purchased performing loans and PCI loans as detailed in the following table: Purchased Performing PCI Total 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 3,690 2 3,692 Commercial: Commercial real estate 119,635 15,649 135,284 Construction and development 24,658 1,012 25,670 Commercial and industrial 52,863 6,350 59,213 Total $ 299,891 $ 30,021 $ 329,912 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 Performing PCI Total 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 29,048 30,047 59,095 Construction and development 202 3,020 3,222 Commercial and industrial 5,402 3,877 9,279 Total $ 46,229 $ 40,255 $ 86,484 |
Securities Available For Sale (
Securities Available For Sale (Tables) | 3 Months Ended |
Sep. 30, 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: September 30, 2015 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value U.S. Government Agencies $ 113,429 $ 839 $ — $ 114,268 Residential Mortgage-backed Securities of U.S. Government Agencies and Government-Sponsored Enterprises 112,977 1,220 (92 ) 114,105 Municipal Bonds 16,713 572 (22 ) 17,263 Corporate Bonds 3,884 128 — 4,012 Equity Securities 63 — — 63 Total $ 247,066 $ 2,759 $ (114 ) $ 249,711 June 30, 2015 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value U.S. Government Agencies $ 115,683 $ 455 $ (67 ) $ 116,071 Residential Mortgage-backed Securities of U.S. Government Agencies and Government-Sponsored Enterprises 120,294 674 (159 ) 120,809 Municipal Bonds 16,359 372 (53 ) 16,678 Corporate Bonds 3,889 96 — 3,985 Equity Securities 63 — — 63 Total $ 256,288 $ 1,597 $ (279 ) $ 257,606 |
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. September 30, 2015 Amortized Cost Estimated Fair Value Due within one year $ 314 $ 314 Due after one year through five years 83,887 84,293 Due after five years through ten years 46,066 47,041 Due after ten years 3,759 3,895 Mortgage-backed securities 112,977 114,105 Total $ 247,003 $ 249,648 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | The gross unrealized losses and the fair value for securities available for sale aggregated by the length of time that individual securities have been in a continuous unrealized loss position as of September 30, 2015 and June 30, 2015 were as follows: September 30, 2015 Less than 12 Months 12 Months or More Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses U.S. Government Agencies $ — $ — $ — $ — $ — $ — Residential Mortgage-backed Securities of U.S. Government Agencies and Government- Sponsored Enterprises 6,684 (17 ) 7,312 (75 ) 13,996 (92 ) Municipal Bonds 1,125 (22 ) — — 1,125 (22 ) Total $ 7,809 $ (39 ) $ 7,312 $ (75 ) $ 15,121 $ (114 ) June 30, 2015 Less than 12 Months 12 Months or More Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses U.S. Government Agencies $ 35,793 $ (67 ) $ — $ — $ 35,793 $ (67 ) Residential Mortgage-backed Securities of U.S. Government Agencies and Government- Sponsored Enterprises 24,429 (81 ) 5,037 (78 ) 29,466 (159 ) Municipal Bonds 3,920 (53 ) — — 3,920 (53 ) Total $ 64,142 $ (201 ) $ 5,037 $ (78 ) $ 69,179 $ (279 ) |
Loans (Tables)
Loans (Tables) | 3 Months Ended |
Sep. 30, 2015 | |
Receivables [Abstract] | |
Schedule of Accounts, Notes, Loans and Financing Receivable | Loans consist of the following at the dates indicated: September 30, 2015 June 30, 2015 Retail consumer loans: One-to-four family $ 645,737 $ 650,750 Home equity lines of credit - originated 160,622 161,204 Home equity lines of credit - purchased 102,136 72,010 Construction and land/lots 44,718 45,931 Indirect auto finance 70,564 52,494 Consumer 3,849 3,708 Total retail consumer loans 1,027,626 986,097 Commercial loans: Commercial real estate 452,772 441,620 Construction and development 72,742 64,573 Commercial and industrial 81,497 84,820 Municipal leases 107,477 108,574 Total commercial loans 714,488 699,587 Total loans 1,742,114 1,685,684 Deferred loan costs, net 176 23 Total loans, net of deferred loan fees and discount 1,742,290 1,685,707 Allowance for loan and lease losses (22,112 ) (22,374 ) Loans, net $ 1,720,178 $ 1,663,333 |
Financing Receivable 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 Mention Substandard Doubtful Loss Total September 30, 2015 Retail consumer loans: One-to-four family $ 597,149 $ 9,041 $ 28,416 $ 1,268 $ 8 $ 635,882 HELOCs - originated 155,144 991 4,044 145 4 160,328 HELOCs - purchased 102,136 — — — — 102,136 Construction and land/lots 41,523 631 1,739 124 — 44,017 Indirect auto finance 70,548 16 — — — 70,564 Consumer 3,349 42 265 100 83 3,839 Commercial loans: Commercial real estate 402,036 9,733 13,220 115 — 425,104 Construction and development 62,510 830 4,585 — — 67,925 Commercial and industrial 71,563 1,836 3,105 — 2 76,506 Municipal leases 105,185 1,722 570 — — 107,477 Total loans $ 1,611,143 $ 24,842 $ 55,944 $ 1,752 $ 97 $ 1,693,778 Pass Special Mention Substandard Doubtful Loss Total June 30, 2015 Retail consumer loans: One-to-four family $ 598,417 $ 11,563 $ 28,656 $ 1,772 $ 12 $ 640,420 HELOCs - originated 155,899 580 4,020 407 3 160,909 HELOCs - purchased 72,010 — — — — 72,010 Construction and land/lots 42,689 650 1,754 124 — 45,217 Indirect auto finance 52,396 59 39 — — 52,494 Consumer 3,610 16 32 — 39 3,697 Commercial loans: Commercial real estate 384,525 12,762 13,972 182 — 411,441 Construction and development 50,815 3,567 5,413 — — 59,795 Commercial and industrial 73,774 953 4,781 — 2 79,510 Municipal leases 106,260 1,733 581 — — 108,574 Total loans $ 1,540,395 $ 31,883 $ 59,248 $ 2,485 $ 56 $ 1,634,067 The Company's total PCI loans by segment, class, and risk grade at the dates indicated follow: Pass Special Mention Substandard Doubtful Loss Total September 30, 2015 Retail consumer loans: One-to-four family $ 5,045 $ 831 $ 3,964 $ 15 $ — $ 9,855 HELOCs - originated 259 — 35 — — 294 Construction and land/lots 565 — 136 — — 701 Consumer 10 — — — — 10 Commercial loans: Commercial real estate 19,904 3,907 3,857 — — 27,668 Construction and development 2,236 138 2,443 — — 4,817 Commercial and industrial 4,046 271 674 — — 4,991 Total loans $ 32,065 $ 5,147 $ 11,109 $ 15 $ — $ 48,336 Pass Special Mention Substandard Doubtful Loss Total June 30, 2015 Retail consumer loans: One-to-four family $ 5,176 $ 1,210 $ 3,890 $ 54 $ — $ 10,330 HELOCs - originated 259 — 36 — — 295 Construction and land/lots 571 — 143 — — 714 Consumer 11 — — — — 11 Commercial loans: Commercial real estate 21,550 3,454 5,175 — — 30,179 Construction and development 2,292 146 2,340 — — 4,778 Commercial and industrial 4,349 279 682 — — 5,310 Total loans $ 34,208 $ 5,089 $ 12,266 $ 54 $ — $ 51,617 |
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 September 30, 2015 Retail consumer loans: One-to-four family $ 4,533 $ 9,185 $ 13,718 $ 632,019 $ 645,737 HELOCs - originated 498 319 817 159,805 160,622 HELOCs - purchased — — — 102,136 102,136 Construction and land/lots 90 370 460 44,258 44,718 Indirect auto finance — — — 70,564 70,564 Consumer 122 — 122 3,727 3,849 Commercial loans: Commercial real estate 3,393 6,722 10,115 442,657 452,772 Construction and development 3,106 2,085 5,191 67,551 72,742 Commercial and industrial 632 2,971 3,603 77,894 81,497 Municipal leases — 202 202 107,275 107,477 Total loans $ 12,374 $ 21,854 $ 34,228 $ 1,707,886 $ 1,742,114 The table above includes PCI loans of $1,161 30-89 days past due and $2,993 90 days or more past due as of September 30, 2015 . Past Due Total 30-89 Days 90 Days+ Total Current Loans June 30, 2015 Retail consumer loans: One-to-four family $ 5,548 $ 8,261 $ 13,809 $ 636,941 $ 650,750 HELOCs - originated 695 808 1,503 159,701 161,204 HELOCs - purchased — — — 72,010 72,010 Construction and land/lots 102 307 409 45,522 45,931 Indirect auto finance — — — 52,494 52,494 Consumer 23 2 25 3,683 3,708 Commercial loans: Commercial real estate 2,758 4,636 7,394 434,226 441,620 Construction and development 166 2,992 3,158 61,415 64,573 Commercial and industrial 439 2,898 3,337 81,483 84,820 Municipal leases 202 — 202 108,372 108,574 Total loans $ 9,933 $ 19,904 $ 29,837 $ 1,655,847 $ 1,685,684 |
Schedule of Past Due Loans Still Accruing and Nonaccruing Interest | The Company's recorded investment in loans, by segment and class, that are not accruing interest or are 90 days or more past due and still accruing interest at the dates indicated follow: September 30, 2015 June 30, 2015 Nonaccruing 90 Days + & still accruing Nonaccruing 90 Days + & still accruing Retail consumer loans: One-to-four family $ 10,811 $ — $ 10,523 $ — HELOCs - originated 1,540 — 1,856 — Construction and land/lots 524 — 465 — Consumer 98 — 49 — Commercial loans: Commercial real estate 6,870 — 5,103 — Construction and development 2,207 — 3,461 — Commercial and industrial 2,546 — 3,081 — Municipal leases 305 — 316 — Total loans $ 24,901 $ — $ 24,854 $ — |
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: September 30, 2015 June 30, 2015 Performing TDRs included in impaired loans $ 21,783 $ 21,891 |
Allowance for Credit Losses on Financing Receivables | An analysis of the allowance for loan losses by segment for the periods shown is as follows: Three Months Ended September 30, 2015 Three Months Ended September 30, 2014 PCI Retail Consumer Commercial Total Retail Consumer Commercial Total Balance at beginning of period $ 401 $ 12,575 $ 9,398 $ 22,374 $ 15,731 $ 7,698 $ 23,429 Provision for (recovery of) loan losses (73 ) 73 — — (674 ) 424 (250 ) Charge-offs — (469 ) (334 ) (803 ) (479 ) (197 ) (676 ) Recoveries — 247 294 541 367 210 577 Balance at end of period $ 328 $ 12,426 $ 9,358 $ 22,112 $ 14,945 $ 8,135 $ 23,080 |
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 individually evaluated for impairment Loans collectively evaluated Total PCI Loans individually evaluated for impairment Loans collectively evaluated Total September 30, 2015 Retail consumer loans: One-to-four family $ 9 $ 329 $ 7,813 $ 8,151 $ 9,855 $ 15,389 $ 620,493 $ 645,737 HELOCs - originated 3 259 1,432 1,694 294 1,147 159,181 160,622 HELOCs - purchased — — 409 409 — — 102,136 102,136 Construction and land/lots — 350 1,159 1,509 701 1,342 42,675 44,718 Indirect auto finance — — 569 569 — — 70,564 70,564 Consumer — 83 99 182 10 — 3,839 3,849 Commercial loans: Commercial real estate 297 — 5,421 5,718 27,668 7,722 417,382 452,772 Construction and development — — 1,523 1,523 4,817 2,597 65,328 72,742 Commercial and industrial 19 936 737 1,692 4,991 2,445 74,061 81,497 Municipal leases — — 665 665 — 305 107,172 107,477 Total $ 328 $ 1,957 $ 19,827 $ 22,112 $ 48,336 $ 30,947 $ 1,662,831 $ 1,742,114 June 30, 2015 Retail consumer loans: One-to-four family $ 35 $ 492 $ 7,463 $ 7,990 $ 10,330 $ 22,841 $ 617,579 $ 650,750 HELCOs - originated 3 275 1,499 1,777 295 2,608 158,301 161,204 HELOCs - purchased — — 432 432 — — 72,010 72,010 Construction and land/lots — 531 1,291 1,822 714 1,926 43,291 45,931 Indirect auto finance — — 464 464 — — 52,494 52,494 Consumer — 39 89 128 11 45 3,652 3,708 Commercial loans: Commercial real estate 334 — 6,005 6,339 30,179 10,961 400,480 441,620 Construction and development — 119 1,462 1,581 4,778 5,161 54,634 64,573 Commercial and industrial 29 400 675 1,104 5,310 4,537 74,973 84,820 Municipal leases — — 737 737 — 316 108,258 108,574 Total $ 401 $ 1,856 $ 20,117 $ 22,374 $ 51,617 $ 48,395 $ 1,585,672 $ 1,685,684 |
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 Principal Balance Recorded Investment With a Recorded Allowance Recorded Investment With No Recorded Allowance Total Related Recorded Allowance September 30, 2015 Retail consumer loans: One-to-four family $ 30,335 $ 12,677 $ 15,634 $ 28,311 $ 455 HELOCs - originated 4,461 2,673 664 3,337 278 Construction and land/lots 3,179 1,517 486 2,003 365 Indirect auto finance — — — — — Consumer 2,462 81 43 124 86 Commercial loans: Commercial real estate 10,627 1,647 8,130 9,777 323 Construction and development 3,225 487 3,265 3,752 12 Commercial and industrial 1,993 2,997 33 3,030 962 Municipal leases 305 — 305 305 — Total impaired loans $ 56,587 $ 22,079 $ 28,560 $ 50,639 $ 2,481 June 30, 2015 Retail consumer loans: One-to-four family $ 31,590 $ 10,340 $ 19,164 $ 29,504 $ 598 HELOCs - originated 6,019 2,565 1,543 4,108 294 Construction and land/lots 3,303 1,225 758 1,983 533 Indirect auto finance 10 — — — — Consumer 1,966 13 45 58 39 Commercial loans: Commercial real estate 13,829 696 10,971 11,667 412 Construction and development 6,615 1,268 4,241 5,509 64 Commercial and industrial 5,668 688 4,051 4,739 431 Municipal leases 316 — 316 316 — Total impaired loans $ 69,316 $ 16,795 $ 41,089 $ 57,884 $ 2,371 |
Schedule of Average Recorded Investment in Loans, Unpaid Principal Balance and Interest Income Recognized | The Company's average recorded investment in impaired loans and interest income recognized on impaired loans for the three months ended September 30, 2015 and 2014 was as follows: Three Months Ended September 30, 2015 September 30, 2014 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized Retail consumer loans: One-to-four family $ 28,907 $ 338 $ 31,842 $ 451 HELOCs - originated 3,722 50 4,710 75 Construction and land/lots 1,993 28 2,098 36 Indirect auto finance — 1 — — Consumer 91 14 31 3 Commercial loans: Commercial real estate 10,722 38 16,903 210 Construction and development 4,631 14 6,103 32 Commercial and industrial 3,885 13 2,901 76 Municipal leases 311 10 152 — Total loans $ 54,262 $ 506 $ 64,740 $ 883 |
Impaired Financing Receivable | A summary of changes in the accretable yield for PCI loans for the three months ended September 30, 2015 and 2014 was as follows: Three Months Ended September 30, 2015 September 30, 2014 Accretable yield, beginning of period $ 11,096 $ 6,151 Addition from the Bank of Commerce acquisition — 7,315 Reclass from nonaccretable yield (1) 366 — Other changes, net (2) (111 ) — Interest income (1,588 ) (931 ) Accretable yield, end of period $ 9,763 $ 12,535 ______________________________________ (1) Represents changes attributable to expected losses assumptions. (2) Represents changes in cash flows expected to be collected due to the impact of modifications, changes in prepayment assumptions, and changes in interest rates. |
Troubled Debt Restructurings on Financing Receivables | For the three months ended September 30, 2015 and 2014 , the following table presents a breakdown of the types of concessions made on TDRs by loan class: Three Months Ended September 30, 2015 Three Months Ended September 30, 2014 Number of Loans Pre Modification Outstanding Recorded Investment Post Modification Outstanding Recorded Investment Number of Loans Pre Modification Outstanding Recorded Investment Post Modification Outstanding Recorded Investment Extended term: Retail consumer: One-to-four family 1 $ 29 $ 29 1 $ 146 $ 147 HELOCs - originated 1 18 14 1 46 46 Total 2 $ 47 $ 43 2 $ 192 $ 193 Other TDRs: Retail consumer: One-to-four family 6 $ 523 $ 528 4 $ 314 $ 324 HELOCs - originated — — — 1 100 105 Construction and land/lots — — — 1 106 100 Total 6 $ 523 $ 528 6 $ 520 $ 529 Total 8 $ 570 $ 571 8 $ 712 $ 722 |
Schedule of Trouble 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 months ended September 30, 2015 and 2014 : Three Months Ended September 30, 2015 Three Months Ended September 30, 2014 Number of Loans Recorded Investment Number of Loans Recorded Investment Below market interest rate: Retail consumer: One-to-four family 1 $ 6 — $ — Total 1 $ 6 — $ — Other TDRs: Retail consumer: One-to-four family 1 $ 182 4 $ 312 HELOCs - originated 1 — — — Total 2 $ 182 4 $ 312 Total 3 $ 188 4 $ 312 |
Net Income Per Share (Tables)
Net Income Per Share (Tables) | 3 Months Ended |
Sep. 30, 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 September 30, 2015 2014 Numerator: Net income available to common stockholders $ 2,564 $ 2,256 Denominator: Weighted-average common shares outstanding - basic 18,077,987 19,178,607 Effect of dilutive shares 213,042 64,115 Weighted-average common shares outstanding - diluted 18,291,029 19,242,722 Net income per share - basic $ 0.14 $ 0.12 Net income per share - diluted $ 0.14 $ 0.12 |
Equity Incentive Plan (Tables)
Equity Incentive Plan (Tables) | 3 Months Ended |
Sep. 30, 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 three months ended September 30, 2015 and 2014 : Options Weighted- average exercise price Remaining contractual life (years) Aggregate Intrinsic Value Options outstanding at June 30, 2014 1,513,500 $ 14.40 8.6 $ 2,077 Granted — — — — Exercised 18,000 14.37 — — Forfeited — — — — Expired — — — — Options outstanding at September 30, 2014 1,495,500 $ 14.40 8.4 $ 352 Exercisable at September 30, 2014 272,175 $ 14.37 Options outstanding at June 30, 2015 1,498,000 $ 14.41 7.7 $ 3,519 Granted — — — — Exercised 400 14.37 — — Forfeited 1,200 14.37 — — Expired — — — — Options outstanding at September 30, 2015 $ 1,496,400 $ 14.41 7.4 $ 6,194 Exercisable at September 30, 2015 548,150 $ 14.39 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions | Assumptions used for grants were as follows: Assumptions in Estimating Option Values 2016 2015 2014 Weighted-average volatility — % 18.90 % 28.19 % Expected dividend yield — % — % — % Risk-free interest rate — % 1.56 % 1.28 % Expected life (years) 0 6.0 6.5 |
Schedule of Nonvested Restricted Stock Units Activity | The table below presents restricted stock award activity for the three months ended September 30, 2015 and 2014 : Restricted stock awards Weighted- average grant date fair value Aggregate Intrinsic Value Non-vested at June 30, 2014 403,965 $ 14.39 $ 6,371 Granted — — — Vested — — — Forfeited — — — Non-vested at September 30, 2014 403,965 $ 14.39 $ 5,902 Non-vested at June 30, 2015 310,470 $ 14.40 $ 5,203 Granted — — — Vested — — — Forfeited 450 14.37 — Non-vested at September 30, 2015 310,020 $ 14.40 $ 5,751 |
Fair Value of Financial Instr23
Fair Value of Financial Instruments (Tables) | 3 Months Ended |
Sep. 30, 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: September 30, 2015 Description Total Level 1 Level 2 Level 3 U.S Government Agencies $ 114,268 $ — $ 114,268 $ — Residential Mortgage-backed Securities of U.S. Government Agencies and Government Sponsored Enterprises 114,105 — 114,105 — Municipal Bonds 17,263 — 17,263 — Corporate Bonds 4,012 — 3,012 1,000 Equity Securities 63 — 63 — Total $ 249,711 $ — $ 248,711 $ 1,000 June 30, 2015 Description Total Level 1 Level 2 Level 3 U.S Government Agencies $ 116,071 $ — $ 116,071 $ — Residential Mortgage-backed Securities of U.S. Government Agencies and Government Sponsored Enterprises 120,809 — 120,809 — Municipal Bonds 16,678 — 16,678 — Corporate Bonds 3,985 — 2,985 1,000 Equity Securities $ 63 $ — $ 63 $ — Total $ 257,606 $ — $ 256,606 $ 1,000 |
Fair Value Measurements, Nonrecurring | The following table presents financial assets measured at fair value on a non-recurring basis at the dates indicated: September 30, 2015 Description Total Level 1 Level 2 Level 3 Impaired loans $ 4,663 $ — $ — $ 4,663 REO 140 — — 140 Total $ 4,803 $ — $ — $ 4,803 June 30, 2015 Description Total Level 1 Level 2 Level 3 Impaired loans $ 5,697 $ — $ — $ 5,697 REO 1,685 — — 1,685 Total $ 7,382 $ — $ — $ 7,382 |
Schedule of Quantitative Information About Level 3 Fair Value Measurements | Quantitative information about Level 3 fair value measurements during the period ended September 30, 2015 is shown in the table below: Fair Value at September 30, 2015 Valuation Techniques Unobservable Input Range Weighted Average Nonrecurring measurements: Impaired loans, net $ 4,663 Discounted appraisals Collateral discounts 3% - 80% 14% REO $ 140 Discounted appraisals Collateral discounts 10% - 15% 15% |
Fair Value, by Balance Sheet Grouping | Fair Value at September 30, 2015 Valuation Techniques Unobservable Input Range Weighted Average Nonrecurring measurements: Impaired loans, net $ 4,663 Discounted appraisals Collateral discounts 3% - 80% 14% REO $ 140 Discounted appraisals Collateral discounts 10% - 15% 15% The stated carrying value and estimated fair value amounts of financial instruments as of September 30, 2015 and June 30, 2015 , are summarized below: September 30, 2015 Carrying Value Fair Value Level 1 Level 2 Level 3 Cash and interest-bearing deposits $ 50,230 $ 50,230 $ 50,230 $ — $ — Commercial paper 242,928 242,928 242,928 — — Certificates of deposit in other banks 196,386 196,386 — 196,386 — Securities available for sale 249,711 249,711 — 248,711 1,000 Loans, net 1,720,178 1,639,956 — — 1,639,956 Loans held for sale 4,012 4,076 — — 4,076 FHLB stock 22,583 22,583 22,583 — — FRB stock 6,170 6,170 6,170 — — Accrued interest receivable 7,914 7,914 — 1,328 6,586 Noninterest-bearing and NOW deposits 582,626 582,626 — 582,626 — Money market accounts 483,939 483,939 — 483,939 — Savings accounts 216,689 216,689 — 216,689 — Certificates of deposit 536,696 536,699 — 536,699 — Other borrowings 476,000 476,000 — 476,000 — Accrued interest payable 174 174 — 174 — June 30, 2015 Carrying Value Fair Value Level 1 Level 2 Level 3 Cash and interest-bearing deposits $ 116,160 $ 116,160 $ 116,160 $ — $ — Commercial paper 256,152 256,152 256,152 — — Certificates of deposit in other banks 210,629 210,629 — 210,629 — Securities available for sale 257,606 257,606 — 256,606 1,000 Loans, net 1,663,333 1,555,992 — — 1,555,992 Loans held for sale 5,874 5,968 — — 5,968 FHLB stock 22,541 22,541 22,541 — — FRB stock 6,170 6,170 6,170 — — Accrued interest receivable 7,522 7,522 — 1,252 6,270 Noninterest-bearing and NOW deposits 591,429 591,429 — 591,429 — Money market accounts 481,948 481,948 — 481,948 — Savings accounts 221,674 221,674 — 221,674 — Certificates of deposit 577,075 577,174 — 577,174 — Other borrowings 475,000 475,000 — 475,000 — Accrued interest payable 181 181 — 181 — |
Business Combinations - Narrati
Business Combinations - Narrative (Details) $ / shares in Units, $ in Thousands | Nov. 14, 2014USD ($)branch | Aug. 08, 2014USD ($) | May. 31, 2014USD ($)$ / sharesshares | Jul. 31, 2013USD ($)$ / shares | Sep. 30, 2015USD ($) | Aug. 01, 2014USD ($) | Jul. 31, 2014USD ($)$ / shares |
BankGreenville | |||||||
Business Acquisition | |||||||
Cash paid to shareholders (in dollars per share) | $ / shares | $ 6.63 | ||||||
Contingent consideration per share | $ / shares | $ 0.41 | ||||||
Book value of assets acquired | $ 102,180 | ||||||
Book value of liabilities assumed | 94,117 | ||||||
Goodwill | $ 2,802 | ||||||
Contingent consideration, liability | $ 484 | ||||||
Contingent liability, performance period | 24 months | ||||||
Loans, net | $ 8,000 | ||||||
Bank of America | |||||||
Business Acquisition | |||||||
Number of branches acquired | branch | 10 | ||||||
Deposit premium (as a percent) | 2.86% | ||||||
Deposit premium period | 30 days | ||||||
Bank of Commerce | |||||||
Business Acquisition | |||||||
Cash paid to shareholders (in dollars per share) | $ / shares | $ 6.25 | ||||||
Book value of assets acquired | $ 122,530 | ||||||
Book value of liabilities assumed | 114,672 | ||||||
Preferred stock redeemed | $ 3,200 | ||||||
Jefferson Bancshares | |||||||
Business Acquisition | |||||||
Shares issued for acquisition | shares | 0.2661 | ||||||
Cash paid to shareholders (in dollars per share) | $ / shares | $ 4 | ||||||
Jefferson | |||||||
Business Acquisition | |||||||
Book value of assets acquired | $ 494,261 | ||||||
Book value of liabilities assumed | 441,858 | ||||||
Goodwill | 7,949 | ||||||
As Recorded by the Company | BankGreenville | |||||||
Business Acquisition | |||||||
Loans, net of allowance | 47,830 | ||||||
Premises and equipment, net | 2,341 | ||||||
Goodwill | $ 2,802 | ||||||
Aggregate consideration | 7,823 | ||||||
As Recorded by the Company | Bank of America | |||||||
Business Acquisition | |||||||
Total consideration | $ 9,805 | ||||||
Loans, net of allowance | 1,045 | ||||||
Premises and equipment, net | $ 8,993 | ||||||
As Recorded by the Company | Bank of Commerce | |||||||
Business Acquisition | |||||||
Total consideration | $ 10,000 | ||||||
Loans, net of allowance | 86,484 | ||||||
Premises and equipment, net | 135 | ||||||
Goodwill | $ 1,922 | ||||||
Aggregate consideration | $ 10,000 | ||||||
As Recorded by the Company | Jefferson Bancshares | |||||||
Business Acquisition | |||||||
Total consideration | 50,490 | ||||||
Loans, net of allowance | 329,912 | ||||||
Premises and equipment, net | 23,175 | ||||||
Goodwill | 7,949 | ||||||
Aggregate consideration | $ 50,490 |
Business Combinations - Schedul
Business Combinations - Schedule of Business Acquisition Contingent Consideration - Bank of America (Details) - USD ($) $ in Thousands | Nov. 14, 2014 | Sep. 30, 2015 | Jun. 30, 2015 | Sep. 30, 2014 | Aug. 01, 2014 |
Assets | |||||
Core deposit intangibles | $ 0 | ||||
Liabilities | |||||
Net assets acquired | $ 0 | $ 10,000 | |||
Goodwill | $ 12,673 | $ 12,673 | |||
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 | ||||
Deferred income taxes | 0 | ||||
Core deposit intangibles | 0 | ||||
Total assets acquired | 328,024 | ||||
Liabilities | |||||
Deposits | 328,007 | ||||
Other liabilities | 17 | ||||
Total liabilities assumed | 328,024 | ||||
Net assets acquired | 0 | ||||
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 | ||||
Accrued interest receivable | 0 | ||||
Deferred income taxes | 353 | ||||
Core deposit intangibles | 7,936 | ||||
Total assets acquired | 10,979 | ||||
Liabilities | |||||
Deposits | 1,174 | ||||
Other liabilities | 0 | ||||
Total liabilities assumed | 1,174 | ||||
Net assets acquired | 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 | 7,936 | ||||
Total assets acquired | 339,003 | ||||
Liabilities | |||||
Deposits | 329,181 | ||||
Other liabilities | 17 | ||||
Total liabilities assumed | 329,198 | ||||
Net assets acquired | 9,805 | ||||
Goodwill | $ 0 |
Business Combinations - Sched26
Business Combinations - Schedule of Business Acquisition Contingent Consideration - Bank of Commerce (Details) - USD ($) $ in Thousands | Aug. 08, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Aug. 01, 2014 |
Assets | ||||
Core deposit intangibles | $ 0 | |||
Liabilities | ||||
Net assets acquired | $ 0 | $ 10,000 | ||
Bank of Commerce | 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 assets acquired | 7,858 | |||
Bank of Commerce | Fair Value and Other Merger Related Adjustments | ||||
Assets | ||||
Cash and cash equivalents | 0 | |||
Securities available for sale | 0 | |||
Loans, net of allowance | (2,855) | |||
FHLB Stock | 0 | |||
REO | (14) | |||
Premises and equipment, net | 0 | |||
Accrued interest receivable | (100) | |||
Deferred income taxes | 2,839 | |||
Core deposit intangibles | 640 | |||
Other assets | (6) | |||
Total assets acquired | 504 | |||
Liabilities | ||||
Deposits | 112 | |||
Other borrowings | 172 | |||
Other liabilities | 0 | |||
Total liabilities assumed | 284 | |||
Net assets acquired | 220 | |||
Bank of Commerce | 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 | 86,484 | |||
FHLB Stock | 791 | |||
REO | 210 | |||
Premises and equipment, net | 135 | |||
Accrued interest receivable | 255 | |||
Deferred income taxes | 3,125 | |||
Core deposit intangibles | 640 | |||
Other assets | 4,925 | |||
Total assets acquired | 123,034 | |||
Liabilities | ||||
Deposits | 93,415 | |||
Other borrowings | 15,172 | |||
Other liabilities | 6,369 | |||
Total liabilities assumed | 114,956 | |||
Net assets acquired | 8,078 | |||
Goodwill | $ 1,922 |
Business Combinations - Sched27
Business Combinations - Schedule of Purchased Performing Loans and Purchased Impaired Loans Acquired in Transfer -- Bank of Commerce (Details) - Bank of Commerce $ in Thousands | Aug. 01, 2014USD ($) |
Business Acquisition | |
Purchased Performing | $ 46,229 |
PCI | 40,255 |
Total Loans | 86,484 |
Retail Consumer Loans | One-to-four family | |
Business Acquisition | |
Purchased Performing | 2,717 |
PCI | 2,979 |
Total Loans | 5,696 |
Retail Consumer Loans | HELOCs - Originated | |
Business Acquisition | |
Purchased Performing | 8,823 |
PCI | 317 |
Total Loans | 9,140 |
Retail Consumer Loans | Consumer | |
Business Acquisition | |
Purchased Performing | 37 |
PCI | 15 |
Total Loans | 52 |
Commercial Loan | Commercial real estate | |
Business Acquisition | |
Purchased Performing | 29,048 |
PCI | 30,047 |
Total Loans | 59,095 |
Commercial Loan | Construction and development | |
Business Acquisition | |
Purchased Performing | 202 |
PCI | 3,020 |
Total Loans | 3,222 |
Commercial Loan | Commercial and Industrial | |
Business Acquisition | |
Purchased Performing | 5,402 |
PCI | 3,877 |
Total Loans | $ 9,279 |
Business Combinations - Sched28
Business Combinations - Schedule of Business Acquisition Contingent Consideration -- Jefferson Bancshares (Details) - USD ($) $ in Thousands | May. 31, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Aug. 01, 2014 |
Assets | ||||
Core deposit intangibles | $ 0 | |||
Liabilities | ||||
Net assets acquired | $ 0 | $ 10,000 | ||
Jefferson Bancshares | 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 assets acquired | 52,403 | |||
Jefferson Bancshares | Fair Value and Other Merger Related Adjustments | ||||
Assets | ||||
Cash and cash equivalents | 0 | |||
Securities available for sale | (675) | |||
Loans, net of allowance | (8,704) | |||
FHLB Stock | 0 | |||
REO | (1,064) | |||
Premises and equipment, net | (1,487) | |||
Accrued interest receivable | (90) | |||
Deferred income taxes | 3,637 | |||
Core deposit intangibles | 2,683 | |||
Other assets | (393) | |||
Total assets acquired | (6,093) | |||
Liabilities | ||||
Deposits | 371 | |||
Other borrowings | 858 | |||
Subordinated debentures | 2,540 | |||
Other liabilities | 0 | |||
Total liabilities assumed | 3,769 | |||
Net assets acquired | (9,862) | |||
Jefferson Bancshares | 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 | 85,069 | |||
Loans, net of allowance | 329,912 | |||
FHLB Stock | 4,635 | |||
REO | 2,224 | |||
Premises and equipment, net | 23,175 | |||
Accrued interest receivable | 1,277 | |||
Deferred income taxes | 13,243 | |||
Core deposit intangibles | 3,530 | |||
Other assets | 6,778 | |||
Total assets acquired | 488,168 | |||
Liabilities | ||||
Deposits | 377,356 | |||
Other borrowings | 55,939 | |||
Subordinated debentures | 10,000 | |||
Other liabilities | 2,332 | |||
Total liabilities assumed | 445,627 | |||
Net assets acquired | 42,541 | |||
Goodwill | $ 7,949 |
Business Combinations - Sched29
Business Combinations - Schedule of Purchased Performing Loans and Purchased Impaired Loans Acquired in Transfer -- Jefferson Bancshares (Details) - Jefferson Bancshares $ in Thousands | May. 31, 2014USD ($) |
Business Acquisition | |
Purchased Performing | $ 299,891 |
PCI | 30,021 |
Total Loans | 329,912 |
Retail Consumer Loans | One-to-four family | |
Business Acquisition | |
Purchased Performing | 74,378 |
PCI | 6,066 |
Total Loans | 80,444 |
Retail Consumer Loans | HELOCs - Originated | |
Business Acquisition | |
Purchased Performing | 16,857 |
PCI | 18 |
Total Loans | 16,875 |
Retail Consumer Loans | Construction and Land/Lots | |
Business Acquisition | |
Purchased Performing | 7,810 |
PCI | 924 |
Total Loans | 8,734 |
Retail Consumer Loans | Consumer | |
Business Acquisition | |
Purchased Performing | 3,690 |
PCI | 2 |
Total Loans | 3,692 |
Commercial Loan | Commercial real estate | |
Business Acquisition | |
Purchased Performing | 119,635 |
PCI | 15,649 |
Total Loans | 135,284 |
Commercial Loan | Construction and development | |
Business Acquisition | |
Purchased Performing | 24,658 |
PCI | 1,012 |
Total Loans | 25,670 |
Commercial Loan | Commercial and Industrial | |
Business Acquisition | |
Purchased Performing | 52,863 |
PCI | 6,350 |
Total Loans | $ 59,213 |
Business Combinations - Sched30
Business Combinations - Schedule of Business Acquisition, Contingent Consideration -- BankGreenville (Details) - USD ($) $ in Thousands | Jul. 31, 2013 | Oct. 27, 2015 | Sep. 30, 2015 | Sep. 30, 2014 | Aug. 01, 2014 |
Assets | |||||
Core deposit intangibles | $ 0 | ||||
Liabilities | |||||
Net assets acquired | $ 0 | $ 10,000 | |||
BankGreenville | |||||
Liabilities | |||||
Contingent liability, performance period | 24 months | ||||
Estimate of additional amount to be paid to shareholders after 24 months | $ 8,000 | ||||
Actual amount paid to shareholders | 484 | ||||
BankGreenville | 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 | ||||
Deferred tax asset | 0 | ||||
Other assets | 214 | ||||
Core deposit intangibles | 0 | ||||
Total assets acquired | 102,180 | ||||
Liabilities | |||||
Deposits | 88,906 | ||||
Other borrowings | 4,700 | ||||
Other liabilities | 511 | ||||
Total liabilities assumed | 94,117 | ||||
Net assets acquired | 8,063 | ||||
BankGreenville | Fair Value and Other Merger Related Adjustments | |||||
Assets | |||||
Cash and cash equivalents | 0 | ||||
Securities available for sale | 0 | ||||
Loans, net of allowance | (3,792) | ||||
FHLB Stock | 0 | ||||
REO | (168) | ||||
Premises and equipment, net | (117) | ||||
Accrued interest receivable | 0 | ||||
Deferred tax asset | 2,470 | ||||
Other assets | 0 | ||||
Core deposit intangibles | 530 | ||||
Total assets acquired | (1,077) | ||||
Liabilities | |||||
Deposits | 201 | ||||
Other borrowings | 34 | ||||
Other liabilities | 0 | ||||
Total liabilities assumed | 235 | ||||
Net assets acquired | (1,312) | ||||
BankGreenville | 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 assets acquired | 6,751 | ||||
Goodwill | $ 2,802 | ||||
Subsequent Event | BankGreenville | |||||
Liabilities | |||||
Actual amount paid to shareholders | $ 484 |
Business Combinations - Sched31
Business Combinations - Schedule of Purchased Performing Loans and Purchased Impaired Loans Acquired in Transfer -- BankGreenville Corporation (Details) - BankGreenville $ in Thousands | Jul. 31, 2013USD ($) |
Total | |
Business Acquisition | |
Purchased Performing | $ 38,223 |
PCI | 9,607 |
Total Loans | 47,830 |
Retail Consumer Loans | One-to-four family | |
Business Acquisition | |
Purchased Performing | 8,274 |
PCI | 1,392 |
Total Loans | 9,666 |
Retail Consumer Loans | HELOCs - Originated | |
Business Acquisition | |
Purchased Performing | 3,987 |
PCI | 134 |
Total Loans | 4,121 |
Retail Consumer Loans | Consumer | |
Business Acquisition | |
Purchased Performing | 522 |
PCI | 0 |
Total Loans | 522 |
Commercial Loan | Commercial real estate | |
Business Acquisition | |
Purchased Performing | 23,073 |
PCI | 4,552 |
Total Loans | 27,625 |
Commercial Loan | Construction and development | |
Business Acquisition | |
Purchased Performing | 2,367 |
PCI | 3,529 |
Total Loans | $ 5,896 |
Securities Available For Sale -
Securities Available For Sale - Available for Sale Securities Table (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Jun. 30, 2015 |
Schedule of Available-for-sale Securities | ||
Amortized Cost | $ 247,066 | $ 256,288 |
Gross Unrealized Gains | 2,759 | 1,597 |
Gross Unrealized Losses | (114) | (279) |
Estimated Fair Value | 249,711 | 257,606 |
U.S. Government Agencies | ||
Schedule of Available-for-sale Securities | ||
Amortized Cost | 113,429 | 115,683 |
Gross Unrealized Gains | 839 | 455 |
Gross Unrealized Losses | 0 | (67) |
Estimated Fair Value | 114,268 | 116,071 |
Government Agencies and Government Sponsored Enterprises | ||
Schedule of Available-for-sale Securities | ||
Amortized Cost | 112,977 | 120,294 |
Gross Unrealized Gains | 1,220 | 674 |
Gross Unrealized Losses | (92) | (159) |
Estimated Fair Value | 114,105 | 120,809 |
Municipal Bonds | ||
Schedule of Available-for-sale Securities | ||
Amortized Cost | 16,713 | 16,359 |
Gross Unrealized Gains | 572 | 372 |
Gross Unrealized Losses | (22) | (53) |
Estimated Fair Value | 17,263 | 16,678 |
Corporate Bond Securities | ||
Schedule of Available-for-sale Securities | ||
Amortized Cost | 3,884 | 3,889 |
Gross Unrealized Gains | 128 | 96 |
Gross Unrealized Losses | 0 | 0 |
Estimated Fair Value | 4,012 | 3,985 |
Equity Securities | ||
Schedule of Available-for-sale Securities | ||
Amortized Cost | 63 | 63 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | 0 | 0 |
Estimated Fair Value | $ 63 | $ 63 |
Securities Available For Sale33
Securities Available For Sale - Schedule of Investments Classified by Contractual Maturity Date (Details) $ in Thousands | Sep. 30, 2015USD ($) |
Amortized Cost | |
Due within one year | $ 314 |
Due after one year through five years | 83,887 |
Due after five years through ten years | 46,066 |
Due after ten years | 3,759 |
Total | 247,003 |
Estimated Fair Value | |
Due within one year | 314 |
Due after one year through five years | 84,293 |
Due after five years through ten years | 47,041 |
Due after ten years | 3,895 |
Total | 249,648 |
Government Agencies and Government Sponsored Enterprises | |
Amortized Cost | |
Total | 112,977 |
Estimated Fair Value | |
Total | $ 114,105 |
Securities Available For Sale34
Securities Available For Sale - Narrative (Details) $ in Thousands | Sep. 30, 2015USD ($)security | Jun. 30, 2015USD ($)security |
Investments, Debt and Equity Securities [Abstract] | ||
Available-for-sale securities pledged as collateral | $ 180,071 | $ 181,404 |
Securities available for sale pledged as collateral market value | $ 181,825 | $ 182,217 |
Number of securities with unrealized losses | security | 54 | 81 |
Securities Available For Sale-
Securities Available For Sale- Available for Sale Securities Continuous Unrealized Loss Position Fair Value (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Jun. 30, 2015 |
U.S. Government Agencies | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Abstract] | ||
Less than 12 Months, Fair Value | $ 0 | $ 35,793 |
12 Months or More, Fair Value | 0 | 0 |
Total, Fair Value | 0 | 35,793 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss [Abstract] | ||
Less than 12 Months, Unrealized Losses | 0 | (67) |
12 Months or More, Unrealized Losses | 0 | 0 |
Total, Unrealized Losses | 0 | (67) |
Government Agencies and Government Sponsored Enterprises | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Abstract] | ||
Less than 12 Months, Fair Value | 6,684 | 24,429 |
12 Months or More, Fair Value | 7,312 | 5,037 |
Total, Fair Value | 13,996 | 29,466 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss [Abstract] | ||
Less than 12 Months, Unrealized Losses | (17) | (81) |
12 Months or More, Unrealized Losses | (75) | (78) |
Total, Unrealized Losses | (92) | (159) |
Municipal Bonds | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Abstract] | ||
Less than 12 Months, Fair Value | 1,125 | 3,920 |
12 Months or More, Fair Value | 0 | 0 |
Total, Fair Value | 1,125 | 3,920 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss [Abstract] | ||
Less than 12 Months, Unrealized Losses | (22) | (53) |
12 Months or More, Unrealized Losses | 0 | 0 |
Total, Unrealized Losses | (22) | (53) |
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 | 7,809 | 64,142 |
12 Months or More, Fair Value | 7,312 | 5,037 |
Total, Fair Value | 15,121 | 69,179 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss [Abstract] | ||
Less than 12 Months, Unrealized Losses | (39) | (201) |
12 Months or More, Unrealized Losses | (75) | (78) |
Total, Unrealized Losses | $ (114) | $ (279) |
Loans - Schedule of Accounts, N
Loans - Schedule of Accounts, Notes, Loans and Financing Receivable (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Jun. 30, 2015 |
Accounts, Notes, Loans and Financing Receivable | ||
Loans receivable net of deferred loan fees and discount | $ 1,742,290 | $ 1,685,707 |
Allowance for loan losses | (22,112) | (22,374) |
Total loans | ||
Accounts, Notes, Loans and Financing Receivable | ||
Financing Receivable | 1,742,114 | 1,685,684 |
Deferred loan fees, net | ||
Accounts, Notes, Loans and Financing Receivable | ||
Loans receivable net of deferred loan fees and discount | 176 | 23 |
Allowance for loan and lease losses | ||
Accounts, Notes, Loans and Financing Receivable | ||
Allowance for loan losses | (22,112) | (22,374) |
Net loans | ||
Accounts, Notes, Loans and Financing Receivable | ||
Financing Receivable | 1,720,178 | 1,663,333 |
Retail Consumer Loans | ||
Accounts, Notes, Loans and Financing Receivable | ||
Indirect auto finance | 70,564 | 52,494 |
Retail Consumer Loans | One-to-Four Family | ||
Accounts, Notes, Loans and Financing Receivable | ||
Financing Receivable | 645,737 | 650,750 |
Retail Consumer Loans | HELOCs - originated | ||
Accounts, Notes, Loans and Financing Receivable | ||
Financing Receivable | 160,622 | 161,204 |
Retail Consumer Loans | HELOCs - Purchased | ||
Accounts, Notes, Loans and Financing Receivable | ||
Financing Receivable | 102,136 | 72,010 |
Retail Consumer Loans | Construction and Land/Lots | ||
Accounts, Notes, Loans and Financing Receivable | ||
Financing Receivable | 44,718 | 45,931 |
Retail Consumer Loans | Consumer | ||
Accounts, Notes, Loans and Financing Receivable | ||
Financing Receivable | 3,849 | 3,708 |
Retail Consumer Loans | Total retail consumer loans | ||
Accounts, Notes, Loans and Financing Receivable | ||
Financing Receivable | 1,027,626 | 986,097 |
Commercial Loans | Commercial Real Estate | ||
Accounts, Notes, Loans and Financing Receivable | ||
Financing Receivable | 452,772 | 441,620 |
Commercial Loans | Construction and development | ||
Accounts, Notes, Loans and Financing Receivable | ||
Financing Receivable | 72,742 | 64,573 |
Commercial Loans | Commercial and Industrial | ||
Accounts, Notes, Loans and Financing Receivable | ||
Financing Receivable | 81,497 | 84,820 |
Commercial Loans | Municipal Leases | ||
Accounts, Notes, Loans and Financing Receivable | ||
Financing Receivable | 107,477 | 108,574 |
Commercial Loans | Total commercial loans | ||
Accounts, Notes, Loans and Financing Receivable | ||
Financing Receivable | $ 714,488 | $ 699,587 |
Loans - Financing Receivable Cr
Loans - Financing Receivable Credit Quality Indicators (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Jun. 30, 2015 |
Financing Receivable, Recorded Investment | ||
Total loans | $ 1,693,778 | $ 1,634,067 |
Pass | ||
Financing Receivable, Recorded Investment | ||
Total loans | 1,611,143 | 1,540,395 |
Special Mention | ||
Financing Receivable, Recorded Investment | ||
Total loans | 24,842 | 31,883 |
Substandard | ||
Financing Receivable, Recorded Investment | ||
Total loans | 55,944 | 59,248 |
Doubtful | ||
Financing Receivable, Recorded Investment | ||
Total loans | 1,752 | 2,485 |
Loss | ||
Financing Receivable, Recorded Investment | ||
Total loans | 97 | 56 |
Retail Consumer Loans | ||
Financing Receivable, Recorded Investment | ||
One- to four-family | 635,882 | 640,420 |
HELOCs | 160,328 | 160,909 |
Construction and land/lots | 44,017 | 45,217 |
Indirect auto finance | 70,564 | 52,494 |
Consumer | 3,839 | 3,697 |
Retail Consumer Loans | HELOCs - Purchased | ||
Financing Receivable, Recorded Investment | ||
HELOCs | 102,136 | 72,010 |
Retail Consumer Loans | Pass | ||
Financing Receivable, Recorded Investment | ||
One- to four-family | 597,149 | 598,417 |
HELOCs | 155,144 | 155,899 |
Construction and land/lots | 41,523 | 42,689 |
Indirect auto finance | 70,548 | 52,396 |
Consumer | 3,349 | 3,610 |
Retail Consumer Loans | Pass | HELOCs - Purchased | ||
Financing Receivable, Recorded Investment | ||
HELOCs | 102,136 | 72,010 |
Retail Consumer Loans | Special Mention | ||
Financing Receivable, Recorded Investment | ||
One- to four-family | 9,041 | 11,563 |
HELOCs | 991 | 580 |
Construction and land/lots | 631 | 650 |
Indirect auto finance | 16 | 59 |
Consumer | 42 | 16 |
Retail Consumer Loans | Special Mention | HELOCs - Purchased | ||
Financing Receivable, Recorded Investment | ||
HELOCs | 0 | 0 |
Retail Consumer Loans | Substandard | ||
Financing Receivable, Recorded Investment | ||
One- to four-family | 28,416 | 28,656 |
HELOCs | 4,044 | 4,020 |
Construction and land/lots | 1,739 | 1,754 |
Indirect auto finance | 0 | 39 |
Consumer | 265 | 32 |
Retail Consumer Loans | Substandard | HELOCs - Purchased | ||
Financing Receivable, Recorded Investment | ||
HELOCs | 0 | 0 |
Retail Consumer Loans | Doubtful | ||
Financing Receivable, Recorded Investment | ||
One- to four-family | 1,268 | 1,772 |
HELOCs | 145 | 407 |
Construction and land/lots | 124 | 124 |
Indirect auto finance | 0 | 0 |
Consumer | 100 | 0 |
Retail Consumer Loans | Doubtful | HELOCs - Purchased | ||
Financing Receivable, Recorded Investment | ||
HELOCs | 0 | 0 |
Retail Consumer Loans | Loss | ||
Financing Receivable, Recorded Investment | ||
One- to four-family | 8 | 12 |
HELOCs | 4 | 3 |
Construction and land/lots | 0 | 0 |
Indirect auto finance | 0 | 0 |
Consumer | 83 | 39 |
Retail Consumer Loans | Loss | HELOCs - Purchased | ||
Financing Receivable, Recorded Investment | ||
HELOCs | 0 | 0 |
Commercial Loan | ||
Financing Receivable, Recorded Investment | ||
Commercial real estate | 425,104 | 411,441 |
Construction and development | 67,925 | 59,795 |
Commercial and industrial | 76,506 | 79,510 |
Municipal leases | 107,477 | 108,574 |
Commercial Loan | Pass | ||
Financing Receivable, Recorded Investment | ||
Commercial real estate | 402,036 | 384,525 |
Construction and development | 62,510 | 50,815 |
Commercial and industrial | 71,563 | 73,774 |
Municipal leases | 105,185 | 106,260 |
Commercial Loan | Special Mention | ||
Financing Receivable, Recorded Investment | ||
Commercial real estate | 9,733 | 12,762 |
Construction and development | 830 | 3,567 |
Commercial and industrial | 1,836 | 953 |
Municipal leases | 1,722 | 1,733 |
Commercial Loan | Substandard | ||
Financing Receivable, Recorded Investment | ||
Commercial real estate | 13,220 | 13,972 |
Construction and development | 4,585 | 5,413 |
Commercial and industrial | 3,105 | 4,781 |
Municipal leases | 570 | 581 |
Commercial Loan | Doubtful | ||
Financing Receivable, Recorded Investment | ||
Commercial real estate | 115 | 182 |
Construction and development | 0 | 0 |
Commercial and industrial | 0 | 0 |
Municipal leases | 0 | 0 |
Commercial Loan | Loss | ||
Financing Receivable, Recorded Investment | ||
Commercial real estate | 0 | 0 |
Construction and development | 0 | 0 |
Commercial and industrial | 2 | 2 |
Municipal leases | $ 0 | $ 0 |
Loans Loans - Schedule of PCI L
Loans Loans - Schedule of PCI Loans Credit Quality Indicators (Details) - Purchased Credit Impaired (PCI) Loans - USD ($) $ in Thousands | Sep. 30, 2015 | Jun. 30, 2015 |
Financing Receivable, Recorded Investment | ||
Total loans | $ 48,336 | $ 51,617 |
Pass | ||
Financing Receivable, Recorded Investment | ||
Total loans | 32,065 | 34,208 |
Special Mention | ||
Financing Receivable, Recorded Investment | ||
Total loans | 5,147 | 5,089 |
Substandard | ||
Financing Receivable, Recorded Investment | ||
Total loans | 11,109 | 12,266 |
Doubtful | ||
Financing Receivable, Recorded Investment | ||
Total loans | 15 | 54 |
Loss | ||
Financing Receivable, Recorded Investment | ||
Total loans | 0 | 0 |
Retail Consumer Loans | One-to-four family | ||
Financing Receivable, Recorded Investment | ||
Total loans | 9,855 | 10,330 |
Retail Consumer Loans | HELOCs - Originated | ||
Financing Receivable, Recorded Investment | ||
Total loans | 294 | 295 |
Retail Consumer Loans | Construction, development and land/lots | ||
Financing Receivable, Recorded Investment | ||
Total loans | 701 | 714 |
Retail Consumer Loans | Consumer | ||
Financing Receivable, Recorded Investment | ||
Total loans | 10 | 11 |
Retail Consumer Loans | Pass | One-to-four family | ||
Financing Receivable, Recorded Investment | ||
Total loans | 5,045 | 5,176 |
Retail Consumer Loans | Pass | HELOCs - Originated | ||
Financing Receivable, Recorded Investment | ||
Total loans | 259 | 259 |
Retail Consumer Loans | Pass | Construction, development and land/lots | ||
Financing Receivable, Recorded Investment | ||
Total loans | 565 | 571 |
Retail Consumer Loans | Pass | Consumer | ||
Financing Receivable, Recorded Investment | ||
Total loans | 10 | 11 |
Retail Consumer Loans | Special Mention | One-to-four family | ||
Financing Receivable, Recorded Investment | ||
Total loans | 831 | 1,210 |
Retail Consumer Loans | Special Mention | HELOCs - Originated | ||
Financing Receivable, Recorded Investment | ||
Total loans | 0 | 0 |
Retail Consumer Loans | Special Mention | Construction, development and land/lots | ||
Financing Receivable, Recorded Investment | ||
Total loans | 0 | 0 |
Retail Consumer Loans | Special Mention | Consumer | ||
Financing Receivable, Recorded Investment | ||
Total loans | 0 | 0 |
Retail Consumer Loans | Substandard | One-to-four family | ||
Financing Receivable, Recorded Investment | ||
Total loans | 3,964 | 3,890 |
Retail Consumer Loans | Substandard | HELOCs - Originated | ||
Financing Receivable, Recorded Investment | ||
Total loans | 35 | 36 |
Retail Consumer Loans | Substandard | Construction, development and land/lots | ||
Financing Receivable, Recorded Investment | ||
Total loans | 136 | 143 |
Retail Consumer Loans | Substandard | Consumer | ||
Financing Receivable, Recorded Investment | ||
Total loans | 0 | 0 |
Retail Consumer Loans | Doubtful | One-to-four family | ||
Financing Receivable, Recorded Investment | ||
Total loans | 15 | 54 |
Retail Consumer Loans | Doubtful | HELOCs - Originated | ||
Financing Receivable, Recorded Investment | ||
Total loans | 0 | 0 |
Retail Consumer Loans | Doubtful | Construction, development and land/lots | ||
Financing Receivable, Recorded Investment | ||
Total loans | 0 | 0 |
Retail Consumer Loans | Doubtful | Consumer | ||
Financing Receivable, Recorded Investment | ||
Total loans | 0 | 0 |
Retail Consumer Loans | Loss | One-to-four family | ||
Financing Receivable, Recorded Investment | ||
Total loans | 0 | 0 |
Retail Consumer Loans | Loss | HELOCs - Originated | ||
Financing Receivable, Recorded Investment | ||
Total loans | 0 | 0 |
Retail Consumer Loans | Loss | Construction, development and land/lots | ||
Financing Receivable, Recorded Investment | ||
Total loans | 0 | 0 |
Retail Consumer Loans | Loss | Consumer | ||
Financing Receivable, Recorded Investment | ||
Total loans | 0 | 0 |
Commercial Loans | Construction, development and land/lots | ||
Financing Receivable, Recorded Investment | ||
Total loans | 4,817 | 4,778 |
Commercial Loans | Commercial real estate | ||
Financing Receivable, Recorded Investment | ||
Total loans | 27,668 | 30,179 |
Commercial Loans | Commercial and industrial | ||
Financing Receivable, Recorded Investment | ||
Total loans | 4,991 | 5,310 |
Commercial Loans | Pass | Construction, development and land/lots | ||
Financing Receivable, Recorded Investment | ||
Total loans | 2,236 | 2,292 |
Commercial Loans | Pass | Commercial real estate | ||
Financing Receivable, Recorded Investment | ||
Total loans | 19,904 | 21,550 |
Commercial Loans | Pass | Commercial and industrial | ||
Financing Receivable, Recorded Investment | ||
Total loans | 4,046 | 4,349 |
Commercial Loans | Special Mention | Construction, development and land/lots | ||
Financing Receivable, Recorded Investment | ||
Total loans | 138 | 146 |
Commercial Loans | Special Mention | Commercial real estate | ||
Financing Receivable, Recorded Investment | ||
Total loans | 3,907 | 3,454 |
Commercial Loans | Special Mention | Commercial and industrial | ||
Financing Receivable, Recorded Investment | ||
Total loans | 271 | 279 |
Commercial Loans | Substandard | Construction, development and land/lots | ||
Financing Receivable, Recorded Investment | ||
Total loans | 2,443 | 2,340 |
Commercial Loans | Substandard | Commercial real estate | ||
Financing Receivable, Recorded Investment | ||
Total loans | 3,857 | 5,175 |
Commercial Loans | Substandard | Commercial and industrial | ||
Financing Receivable, Recorded Investment | ||
Total loans | 674 | 682 |
Commercial Loans | Doubtful | Construction, development and land/lots | ||
Financing Receivable, Recorded Investment | ||
Total loans | 0 | 0 |
Commercial Loans | Doubtful | Commercial real estate | ||
Financing Receivable, Recorded Investment | ||
Total loans | 0 | 0 |
Commercial Loans | Doubtful | Commercial and industrial | ||
Financing Receivable, Recorded Investment | ||
Total loans | 0 | 0 |
Commercial Loans | Loss | Construction, development and land/lots | ||
Financing Receivable, Recorded Investment | ||
Total loans | 0 | 0 |
Commercial Loans | Loss | Commercial real estate | ||
Financing Receivable, Recorded Investment | ||
Total loans | 0 | 0 |
Commercial Loans | Loss | Commercial and industrial | ||
Financing Receivable, Recorded Investment | ||
Total loans | $ 0 | $ 0 |
Loans - Schedule of Past Due Fi
Loans - Schedule of Past Due Financing Receivables (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Jun. 30, 2015 |
Retail Consumer Loans | One-to-Four Family | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | $ 4,533 | $ 5,548 |
90 Days and Over Past Due | 9,185 | 8,261 |
Past Due Total | 13,718 | 13,809 |
Current | 632,019 | 636,941 |
Total Loans Receivable | 645,737 | 650,750 |
Retail Consumer Loans | HELOCs - Originated | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 498 | 695 |
90 Days and Over Past Due | 319 | 808 |
Past Due Total | 817 | 1,503 |
Current | 159,805 | 159,701 |
Total Loans Receivable | 160,622 | 161,204 |
Retail Consumer Loans | HELOCs - Purchased | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 0 | 0 |
90 Days and Over Past Due | 0 | 0 |
Past Due Total | 0 | 0 |
Current | 102,136 | 72,010 |
Total Loans Receivable | 102,136 | 72,010 |
Retail Consumer Loans | Construction and Land/Lots | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 90 | 102 |
90 Days and Over Past Due | 370 | 307 |
Past Due Total | 460 | 409 |
Current | 44,258 | 45,522 |
Total Loans Receivable | 44,718 | 45,931 |
Retail Consumer Loans | Indirect Auto Finance | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 0 | 0 |
90 Days and Over Past Due | 0 | 0 |
Past Due Total | 0 | 0 |
Current | 70,564 | 52,494 |
Total Loans Receivable | 70,564 | 52,494 |
Retail Consumer Loans | Consumer | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 122 | 23 |
90 Days and Over Past Due | 0 | 2 |
Past Due Total | 122 | 25 |
Current | 3,727 | 3,683 |
Total Loans Receivable | 3,849 | 3,708 |
Commercial Loans | Commercial Real Estate | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 3,393 | 2,758 |
90 Days and Over Past Due | 6,722 | 4,636 |
Past Due Total | 10,115 | 7,394 |
Current | 442,657 | 434,226 |
Total Loans Receivable | 452,772 | 441,620 |
Commercial Loans | Construction and development | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 3,106 | 166 |
90 Days and Over Past Due | 2,085 | 2,992 |
Past Due Total | 5,191 | 3,158 |
Current | 67,551 | 61,415 |
Total Loans Receivable | 72,742 | 64,573 |
Commercial Loans | Commercial and Industrial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 632 | 439 |
90 Days and Over Past Due | 2,971 | 2,898 |
Past Due Total | 3,603 | 3,337 |
Current | 77,894 | 81,483 |
Total Loans Receivable | 81,497 | 84,820 |
Commercial Loans | Municipal Leases | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 0 | 202 |
90 Days and Over Past Due | 202 | 0 |
Past Due Total | 202 | 202 |
Current | 107,275 | 108,372 |
Total Loans Receivable | 107,477 | 108,574 |
Commercial Loans | Total | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 12,374 | 9,933 |
90 Days and Over Past Due | 21,854 | 19,904 |
Past Due Total | 34,228 | 29,837 |
Current | 1,707,886 | 1,655,847 |
Total Loans Receivable | 1,742,114 | 1,685,684 |
Purchased Credit Impaired (PCI) Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
30-89 Days Past Due | 1,161 | 513 |
90 Days and Over Past Due | $ 2,993 | $ 3,198 |
Loans - Schedule of Past Due Lo
Loans - Schedule of Past Due Loans Still Accruing and Nonaccruing Interest (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Jun. 30, 2015 |
Total loans nonaccruing and still accruing interest | ||
Accounts, Notes, Loans and Financing Receivable | ||
Nonaccruing | $ 24,901 | $ 24,854 |
90 Days & still accruing | 0 | 0 |
Retail Consumer Loans | One-to-Four Family | ||
Accounts, Notes, Loans and Financing Receivable | ||
Nonaccruing | 10,811 | 10,523 |
90 Days & still accruing | 0 | 0 |
Retail Consumer Loans | HELOCs - originated | ||
Accounts, Notes, Loans and Financing Receivable | ||
Nonaccruing | 1,540 | 1,856 |
90 Days & still accruing | 0 | 0 |
Retail Consumer Loans | Construction and Land/Lots | ||
Accounts, Notes, Loans and Financing Receivable | ||
Nonaccruing | 524 | 465 |
90 Days & still accruing | 0 | 0 |
Retail Consumer Loans | Consumer | ||
Accounts, Notes, Loans and Financing Receivable | ||
Nonaccruing | 98 | 49 |
90 Days & still accruing | 0 | 0 |
Commercial Loans | Commercial Real Estate | ||
Accounts, Notes, Loans and Financing Receivable | ||
Nonaccruing | 6,870 | 5,103 |
90 Days & still accruing | 0 | 0 |
Commercial Loans | Construction and development | ||
Accounts, Notes, Loans and Financing Receivable | ||
Nonaccruing | 2,207 | 3,461 |
90 Days & still accruing | 0 | 0 |
Commercial Loans | Commercial and Industrial | ||
Accounts, Notes, Loans and Financing Receivable | ||
Nonaccruing | 2,546 | 3,081 |
90 Days & still accruing | 0 | 0 |
Commercial Loans | Municipal Leases | ||
Accounts, Notes, Loans and Financing Receivable | ||
Nonaccruing | 305 | 316 |
90 Days & still accruing | $ 0 | $ 0 |
Loans - Schedule of Troubled De
Loans - Schedule of Troubled Debt Restructurings Performing and Excluded from Nonaccruing Loans (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Jun. 30, 2015 |
Performing financing receivable | ||
Financing Receivable, Modifications | ||
Performing TDRs included in impaired loans | $ 21,783 | $ 21,891 |
Loans - Schedule of Allowance f
Loans - Schedule of Allowance for Credit Losses on Financing Receivables Table (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||
Balance at beginning of period | $ 22,374 | |
Provision for (recovery of) loan losses | 0 | $ (250) |
Charge-offs | (803) | (676) |
Recoveries | 541 | 577 |
Balance at end of period | 22,112 | |
Retail Consumer Loans | ||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||
Balance at beginning of period | 12,575 | |
Provision for (recovery of) loan losses | 73 | (674) |
Charge-offs | (469) | (479) |
Recoveries | 247 | 367 |
Balance at end of period | 12,426 | |
Commercial Loans | ||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||
Balance at beginning of period | 9,398 | |
Provision for (recovery of) loan losses | 0 | 424 |
Charge-offs | (334) | (197) |
Recoveries | 294 | $ 210 |
Balance at end of period | 9,358 | |
Purchased Credit Impaired (PCI) Loans | ||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||
Balance at beginning of period | 401 | |
Provision for (recovery of) loan losses | (73) | |
Charge-offs | 0 | |
Recoveries | 0 | |
Balance at end of period | $ 328 |
Loans - Schedule of Ending Bala
Loans - Schedule of Ending Balances of Loans and the Related Allowance by Segment and Class (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2014 | Jun. 30, 2013 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loan losses, PCI | $ 22,112 | $ 22,374 | $ 23,080 | $ 23,429 |
Allowance for loan losses, Loans individually evaluated for impairment | 1,957 | 1,856 | ||
Allowance for loan losses, Loans collectively evaluated | 19,827 | 20,117 | ||
Allowance for loan losses, Total | 22,112 | 22,374 | ||
Total loans receivable, Loans individually evaluated for impairment | 30,947 | 48,395 | ||
Total loans receivable, Loans collectively evaluated | 1,662,831 | 1,585,672 | ||
Total loans receivable, Total | 1,742,114 | 1,685,684 | ||
Retail Consumer Loans | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loan losses, PCI | 12,426 | 12,575 | 14,945 | 15,731 |
Retail Consumer Loans | One-to-Four Family | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loan losses, Loans individually evaluated for impairment | 329 | 492 | ||
Allowance for loan losses, Loans collectively evaluated | 7,813 | 7,463 | ||
Allowance for loan losses, Total | 8,151 | 7,990 | ||
Total loans receivable, Loans individually evaluated for impairment | 15,389 | 22,841 | ||
Total loans receivable, Loans collectively evaluated | 620,493 | 617,579 | ||
Financing Receivable | 645,737 | 650,750 | ||
Total loans receivable, Total | 645,737 | 650,750 | ||
Retail Consumer Loans | HELOCs - Originated | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loan losses, Loans individually evaluated for impairment | 259 | 275 | ||
Allowance for loan losses, Loans collectively evaluated | 1,432 | 1,499 | ||
Allowance for loan losses, Total | 1,694 | 1,777 | ||
Total loans receivable, Loans individually evaluated for impairment | 1,147 | 2,608 | ||
Total loans receivable, Loans collectively evaluated | 159,181 | 158,301 | ||
Total loans receivable, Total | 160,622 | 161,204 | ||
Retail Consumer Loans | HELOCs - Purchased | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loan losses, Loans individually evaluated for impairment | 0 | 0 | ||
Allowance for loan losses, Loans collectively evaluated | 409 | 432 | ||
Allowance for loan losses, Total | 409 | 432 | ||
Total loans receivable, Loans individually evaluated for impairment | 0 | 0 | ||
Total loans receivable, Loans collectively evaluated | 102,136 | 72,010 | ||
Financing Receivable | 102,136 | 72,010 | ||
Total loans receivable, Total | 72,010 | |||
Retail Consumer Loans | Construction and Land/Lots | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loan losses, Loans individually evaluated for impairment | 350 | 531 | ||
Allowance for loan losses, Loans collectively evaluated | 1,159 | 1,291 | ||
Allowance for loan losses, Total | 1,509 | 1,822 | ||
Total loans receivable, Loans individually evaluated for impairment | 1,342 | 1,926 | ||
Total loans receivable, Loans collectively evaluated | 42,675 | 43,291 | ||
Financing Receivable | 44,718 | 45,931 | ||
Total loans receivable, Total | 44,718 | 45,931 | ||
Retail Consumer Loans | Indirect Auto Finance | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loan losses, Loans individually evaluated for impairment | 0 | 0 | ||
Allowance for loan losses, Loans collectively evaluated | 569 | 464 | ||
Allowance for loan losses, Total | 569 | 464 | ||
Total loans receivable, Loans individually evaluated for impairment | 0 | 0 | ||
Total loans receivable, Loans collectively evaluated | 70,564 | 52,494 | ||
Total loans receivable, Total | 70,564 | 52,494 | ||
Retail Consumer Loans | Consumer | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loan losses, Loans individually evaluated for impairment | 83 | 39 | ||
Allowance for loan losses, Loans collectively evaluated | 99 | 89 | ||
Allowance for loan losses, Total | 182 | 128 | ||
Total loans receivable, Loans individually evaluated for impairment | 0 | 45 | ||
Total loans receivable, Loans collectively evaluated | 3,839 | 3,652 | ||
Financing Receivable | 3,849 | 3,708 | ||
Total loans receivable, Total | 3,849 | 3,708 | ||
Commercial Loans | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loan losses, PCI | 9,358 | 9,398 | $ 8,135 | $ 7,698 |
Commercial Loans | Commercial Real Estate | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loan losses, Loans individually evaluated for impairment | 0 | 0 | ||
Allowance for loan losses, Loans collectively evaluated | 5,421 | 6,005 | ||
Allowance for loan losses, Total | 5,718 | 6,339 | ||
Total loans receivable, Loans individually evaluated for impairment | 7,722 | 10,961 | ||
Total loans receivable, Loans collectively evaluated | 417,382 | 400,480 | ||
Financing Receivable | 452,772 | 441,620 | ||
Total loans receivable, Total | 452,772 | 441,620 | ||
Commercial Loans | Construction and development | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loan losses, Loans individually evaluated for impairment | 0 | 119 | ||
Allowance for loan losses, Loans collectively evaluated | 1,523 | 1,462 | ||
Allowance for loan losses, Total | 1,523 | 1,581 | ||
Total loans receivable, Loans individually evaluated for impairment | 2,597 | 5,161 | ||
Total loans receivable, Loans collectively evaluated | 65,328 | 54,634 | ||
Financing Receivable | 72,742 | 64,573 | ||
Total loans receivable, Total | 72,742 | 64,573 | ||
Commercial Loans | Commercial and Industrial | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loan losses, Loans individually evaluated for impairment | 936 | 400 | ||
Allowance for loan losses, Loans collectively evaluated | 737 | 675 | ||
Allowance for loan losses, Total | 1,692 | 1,104 | ||
Total loans receivable, Loans individually evaluated for impairment | 2,445 | 4,537 | ||
Total loans receivable, Loans collectively evaluated | 74,061 | 74,973 | ||
Financing Receivable | 81,497 | 84,820 | ||
Total loans receivable, Total | 81,497 | 84,820 | ||
Commercial Loans | Municipal Leases | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loan losses, Loans individually evaluated for impairment | 0 | 0 | ||
Allowance for loan losses, Loans collectively evaluated | 665 | 737 | ||
Allowance for loan losses, Total | 665 | 737 | ||
Total loans receivable, Loans individually evaluated for impairment | 305 | 316 | ||
Total loans receivable, Loans collectively evaluated | 107,172 | 108,258 | ||
Financing Receivable | 107,477 | 108,574 | ||
Total loans receivable, Total | 107,477 | 108,574 | ||
Purchased Credit Impaired (PCI) Loans | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loan losses, PCI | 328 | 401 | ||
Total loans receivable, PCI | 48,336 | 51,617 | ||
Purchased Credit Impaired (PCI) Loans | Retail Consumer Loans | One-to-Four Family | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loan losses, PCI | 9 | 35 | ||
Total loans receivable, PCI | 9,855 | 10,330 | ||
Purchased Credit Impaired (PCI) Loans | Retail Consumer Loans | HELOCs - Originated | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loan losses, PCI | 3 | 3 | ||
Total loans receivable, PCI | 294 | 295 | ||
Purchased Credit Impaired (PCI) Loans | Retail Consumer Loans | HELOCs - Purchased | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loan losses, PCI | 0 | 0 | ||
Total loans receivable, PCI | 0 | 0 | ||
Purchased Credit Impaired (PCI) Loans | Retail Consumer Loans | Construction and Land/Lots | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loan losses, PCI | 0 | 0 | ||
Total loans receivable, PCI | 701 | 714 | ||
Purchased Credit Impaired (PCI) Loans | Retail Consumer Loans | Indirect Auto Finance | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loan losses, PCI | 0 | 0 | ||
Total loans receivable, PCI | 0 | 0 | ||
Purchased Credit Impaired (PCI) Loans | Retail Consumer Loans | Consumer | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loan losses, PCI | 0 | 0 | ||
Total loans receivable, PCI | 10 | 11 | ||
Purchased Credit Impaired (PCI) Loans | Commercial Loans | Commercial Real Estate | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loan losses, PCI | 297 | 334 | ||
Total loans receivable, PCI | 27,668 | 30,179 | ||
Purchased Credit Impaired (PCI) Loans | Commercial Loans | Construction and development | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loan losses, PCI | 0 | 0 | ||
Total loans receivable, PCI | 4,817 | 4,778 | ||
Purchased Credit Impaired (PCI) Loans | Commercial Loans | Commercial and Industrial | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loan losses, PCI | 19 | 29 | ||
Total loans receivable, PCI | 4,991 | 5,310 | ||
Purchased Credit Impaired (PCI) Loans | Commercial Loans | Municipal Leases | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loan losses, PCI | 0 | 0 | ||
Total loans receivable, PCI | $ 0 | $ 0 |
Loans - Schedule of Impaired Lo
Loans - Schedule of Impaired Loans and Related Allowance by Segment and Class (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Jun. 30, 2015 |
Financing Receivable, Impaired | ||
Unpaid principal balance | $ 56,587 | $ 69,316 |
Recorded investment with a recorded allowance | 22,079 | 16,795 |
Recorded investment with no recorded allowance | 28,560 | 41,089 |
Total | 50,639 | 57,884 |
Related recorded allowance | 2,481 | 2,371 |
Loans excluded from recorded investment due to accretion of discounts | 842 | |
Impaired loans not individually evaluated | 19,692 | 9,492 |
Recorded allowance of impaired loans not individually evaluated | 524 | 515 |
Retail Consumer Loans | One-to-Four Family | ||
Financing Receivable, Impaired | ||
Unpaid principal balance | 30,335 | 31,590 |
Recorded investment with a recorded allowance | 12,677 | 10,340 |
Recorded investment with no recorded allowance | 15,634 | 19,164 |
Total | 28,311 | 29,504 |
Related recorded allowance | 455 | 598 |
Retail Consumer Loans | HELOCs - Originated | ||
Financing Receivable, Impaired | ||
Unpaid principal balance | 4,461 | 6,019 |
Recorded investment with a recorded allowance | 2,673 | 2,565 |
Recorded investment with no recorded allowance | 664 | 1,543 |
Total | 3,337 | 4,108 |
Related recorded allowance | 278 | 294 |
Retail Consumer Loans | Construction and Land/Lots | ||
Financing Receivable, Impaired | ||
Unpaid principal balance | 3,179 | 3,303 |
Recorded investment with a recorded allowance | 1,517 | 1,225 |
Recorded investment with no recorded allowance | 486 | 758 |
Total | 2,003 | 1,983 |
Related recorded allowance | 365 | 533 |
Retail Consumer Loans | Indirect Auto Finance | ||
Financing Receivable, Impaired | ||
Unpaid principal balance | 0 | 10 |
Recorded investment with a recorded allowance | 0 | 0 |
Recorded investment with no recorded allowance | 0 | 0 |
Total | 0 | 0 |
Related recorded allowance | 0 | 0 |
Retail Consumer Loans | Consumer | ||
Financing Receivable, Impaired | ||
Unpaid principal balance | 2,462 | 1,966 |
Recorded investment with a recorded allowance | 81 | 13 |
Recorded investment with no recorded allowance | 43 | 45 |
Total | 124 | 58 |
Related recorded allowance | 86 | 39 |
Commercial Loan | Commercial Real Estate | ||
Financing Receivable, Impaired | ||
Unpaid principal balance | 10,627 | 13,829 |
Recorded investment with a recorded allowance | 1,647 | 696 |
Recorded investment with no recorded allowance | 8,130 | 10,971 |
Total | 9,777 | 11,667 |
Related recorded allowance | 323 | 412 |
Commercial Loan | Construction and development | ||
Financing Receivable, Impaired | ||
Unpaid principal balance | 3,225 | 6,615 |
Recorded investment with a recorded allowance | 487 | 1,268 |
Recorded investment with no recorded allowance | 3,265 | 4,241 |
Total | 3,752 | 5,509 |
Related recorded allowance | 12 | 64 |
Commercial Loan | Commercial and Industrial | ||
Financing Receivable, Impaired | ||
Unpaid principal balance | 1,993 | 5,668 |
Recorded investment with a recorded allowance | 2,997 | 688 |
Recorded investment with no recorded allowance | 33 | 4,051 |
Total | 3,030 | 4,739 |
Related recorded allowance | 962 | 431 |
Commercial Loan | Municipal Leases | ||
Financing Receivable, Impaired | ||
Unpaid principal balance | 305 | 316 |
Recorded investment with a recorded allowance | 0 | 0 |
Recorded investment with no recorded allowance | 305 | 316 |
Total | 305 | 316 |
Related recorded allowance | $ 0 | 0 |
Purchased Credit Impaired (PCI) Loans | ||
Financing Receivable, Impaired | ||
Loans excluded from recorded investment due to accretion of discounts | $ 644 |
Loans - Schedule of Impaired 45
Loans - Schedule of Impaired Loans Not Individually Evaluated (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Jun. 30, 2015 |
Receivables [Abstract] | ||
Impaired loans not individually evaluated | $ 19,692 | $ 9,492 |
Recorded allowance of impaired loans not individually evaluated | $ 524 | $ 515 |
Loans - Schedule of Average Rec
Loans - Schedule of Average Recorded Investment in Loans, Interest Income Recognized (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
Financing Receivable, Impaired | ||
Average recorded investment | $ 54,262 | $ 64,740 |
Interest income recognized | 506 | 883 |
Retail Consumer Loans | One-to-Four Family | ||
Financing Receivable, Impaired | ||
Average recorded investment | 28,907 | 31,842 |
Interest income recognized | 338 | 451 |
Retail Consumer Loans | HELOCs - Originated | ||
Financing Receivable, Impaired | ||
Average recorded investment | 3,722 | 4,710 |
Interest income recognized | 50 | 75 |
Retail Consumer Loans | Construction and Land/Lots | ||
Financing Receivable, Impaired | ||
Average recorded investment | 1,993 | 2,098 |
Interest income recognized | 28 | 36 |
Retail Consumer Loans | Indirect Auto Finance | ||
Financing Receivable, Impaired | ||
Average recorded investment | 0 | 0 |
Interest income recognized | 1 | 0 |
Retail Consumer Loans | Consumer | ||
Financing Receivable, Impaired | ||
Average recorded investment | 91 | 31 |
Interest income recognized | 14 | 3 |
Commercial Loan | Commercial Real Estate | ||
Financing Receivable, Impaired | ||
Average recorded investment | 10,722 | 16,903 |
Interest income recognized | 38 | 210 |
Commercial Loan | Construction and development | ||
Financing Receivable, Impaired | ||
Average recorded investment | 4,631 | 6,103 |
Interest income recognized | 14 | 32 |
Commercial Loan | Commercial and Industrial | ||
Financing Receivable, Impaired | ||
Average recorded investment | 3,885 | 2,901 |
Interest income recognized | 13 | 76 |
Commercial Loan | Municipal Leases | ||
Financing Receivable, Impaired | ||
Average recorded investment | 311 | 152 |
Interest income recognized | $ 10 | $ 0 |
Loans - Schedule of Changes in
Loans - Schedule of Changes in Accretable Yield for Purchased Impaired Loans (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
Changes in Accretable Yield [Roll Forward] | ||
Reclass from nonaccretable yield | $ 366 | $ 0 |
Other changes, net | (111) | 0 |
Interest income | 1,588 | 931 |
Purchased Credit Impaired (PCI) Loans | ||
Changes in Accretable Yield [Roll Forward] | ||
Accretable yield, beginning of period | 11,096 | 6,151 |
Accretable yield, end of period | 9,763 | 12,535 |
Purchased Credit Impaired (PCI) Loans | Bank of Commerce | ||
Changes in Accretable Yield [Roll Forward] | ||
Addition from the Bank of Commerce acquisition | $ 0 | $ 7,315 |
Loans - Schedule of Debt Restru
Loans - Schedule of Debt Restructurings on Financing Receivables (Details) - Retail Consumer Loans $ in Thousands | 3 Months Ended | |
Sep. 30, 2015USD ($)loan | Sep. 30, 2014USD ($)loan | |
Financing Receivable, Modifications | ||
Number of loans | loan | 8 | 8 |
Pre-modification outstanding recorded investment | $ 570 | $ 712 |
Post-modification outstanding recorded investment | $ 571 | $ 722 |
Extended Payment Terms | ||
Financing Receivable, Modifications | ||
Number of loans | loan | 2 | 2 |
Pre-modification outstanding recorded investment | $ 47 | $ 192 |
Post-modification outstanding recorded investment | $ 43 | $ 193 |
Extended Payment Terms | One-to-Four Family | ||
Financing Receivable, Modifications | ||
Number of loans | loan | 1 | 1 |
Pre-modification outstanding recorded investment | $ 29 | $ 146 |
Post-modification outstanding recorded investment | $ 29 | $ 147 |
Extended Payment Terms | HELOCs - Originated | ||
Financing Receivable, Modifications | ||
Number of loans | loan | 1 | 1 |
Pre-modification outstanding recorded investment | $ 18 | $ 46 |
Post-modification outstanding recorded investment | $ 14 | $ 46 |
Other TDRs | ||
Financing Receivable, Modifications | ||
Number of loans | loan | 6 | 6 |
Pre-modification outstanding recorded investment | $ 523 | $ 520 |
Post-modification outstanding recorded investment | $ 528 | $ 529 |
Other TDRs | One-to-Four Family | ||
Financing Receivable, Modifications | ||
Number of loans | loan | 6 | 4 |
Pre-modification outstanding recorded investment | $ 523 | $ 314 |
Post-modification outstanding recorded investment | $ 528 | $ 324 |
Other TDRs | HELOCs - Originated | ||
Financing Receivable, Modifications | ||
Number of loans | loan | 0 | 1 |
Pre-modification outstanding recorded investment | $ 0 | $ 100 |
Post-modification outstanding recorded investment | $ 0 | $ 105 |
Other TDRs | Construction and Land/Lots | ||
Financing Receivable, Modifications | ||
Number of loans | loan | 0 | 1 |
Pre-modification outstanding recorded investment | $ 0 | $ 106 |
Post-modification outstanding recorded investment | $ 0 | $ 100 |
Loans - Schedule of Troubled 49
Loans - Schedule of Troubled Debt Restructurings With Payment Default (Details) - Retail Consumer Loans $ in Thousands | 3 Months Ended | |
Sep. 30, 2015USD ($)loan | Sep. 30, 2014USD ($)loan | |
Financing Receivable, Modifications | ||
Number of loans | 3 | 4 |
Recorded investment | $ | $ 188 | $ 312 |
Below Market Interest Rate | ||
Financing Receivable, Modifications | ||
Number of loans | 1 | 0 |
Recorded investment | $ | $ 6 | $ 0 |
Below Market Interest Rate | One-to-Four Family | ||
Financing Receivable, Modifications | ||
Number of loans | 1 | 0 |
Recorded investment | $ | $ 6 | $ 0 |
Other TDRs | ||
Financing Receivable, Modifications | ||
Number of loans | 2 | 4 |
Recorded investment | $ | $ 182 | $ 312 |
Other TDRs | One-to-Four Family | ||
Financing Receivable, Modifications | ||
Number of loans | 1 | 4 |
Recorded investment | $ | $ 182 | $ 312 |
Other TDRs | HELOCs - Originated | ||
Financing Receivable, Modifications | ||
Number of loans | 1 | 0 |
Recorded investment | $ | $ 0 | $ 0 |
Net Income Per Share - Schedule
Net Income Per Share - Schedule of Earnings Per Share, Basic and Diluted (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
Numerator: | ||
Net income available to common stockholders | $ 2,564 | $ 2,256 |
Denominator: | ||
Weighted-average common shares outstanding - basic | 18,077,987 | 19,178,607 |
Effect of dilutive shares | 213,042 | 64,115 |
Weighted-average common shares outstanding - diluted | 18,291,029 | 19,242,722 |
Net income per share - basic (in dollars per share) | $ 0.14 | $ 0.12 |
Net income per share - diluted (in dollars per share) | $ 0.14 | $ 0.12 |
Net Income Per Share - Antidilu
Net Income Per Share - Antidilutive Stock Options (Details) - shares | 3 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
Earnings Per Share [Abstract] | ||
Antidilutive securities excluded from computation of earnings per share | 40,000 | 1,495,500 |
Equity Incentive Plan - Narrati
Equity Incentive Plan - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands | Jan. 17, 2013 | Sep. 30, 2015 | Sep. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2013 | 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 | $ 13,297 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Per Share Weighted Average Price of Shares Purchased | $ 15.71 | |||||||
Share-based compensation expense | $ 788 | $ 753 | ||||||
Employee Service Share-based Compensation, Tax Benefit from Compensation Expense | $ 292 | $ 279 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Weighted Average Grant Date Fair Value | $ 3.59 | $ 5.26 | ||||||
Granted (in shares) | 0 | 0 | ||||||
Options outstanding (in shares) | 1,496,400 | 1,495,500 | 1,498,000 | 1,513,500 | 1,495,500 | |||
Remaining contractual life (years) | 7 years 5 months | 8 years 4 months 15 days | 7 years 8 months | 8 years 6 months 20 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 | $ 3,462 | $ 4,876 | ||||||
Unrecognized Compensation Costs on Stock Option Awards Weighted Average Period of Recognition | 1 year 6 months 18 days | 2 years | ||||||
Non-vested (in shares) | 310,020 | 403,965 | 310,470 | 403,965 | 403,965 | |||
Stock Option Activity | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||
Unrecognized compensation expense | $ 3,238 | $ 4,655 | ||||||
Unrecognized Compensation Costs on Stock Option Awards Weighted Average Period of Recognition | 1 year 6 months 18 days | 2 years | ||||||
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] | ||||||||
Remaining contractual life (years) | 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] | ||||||||
Remaining contractual life (years) | 7 years |
Equity Incentive Plan - Stock O
Equity Incentive Plan - Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Options | ||||
Options Outstanding, Beginning of Period | 1,498,000 | 1,513,500 | 1,513,500 | |
Granted (in shares) | 0 | 0 | ||
Exercised (in shares) | 400 | 18,000 | ||
Forfeited (in shares) | 1,200 | 0 | ||
Expired (in shares) | 0 | 0 | ||
Options Outstanding, End of period | 1,496,400 | 1,495,500 | 1,498,000 | 1,513,500 |
Exercisable (in shares) | 548,150 | 272,175 | ||
Weighted- average exercise price | ||||
Options Outstanding, Beginning of Period (in usd per share) | $ 14.41 | $ 14.40 | $ 14.40 | |
Granted (in usd per share) | 0 | 0 | ||
Exercised (in usd per share) | 14.37 | 14.37 | ||
Forfeited (in usd per share) | 14.37 | 0 | ||
Expired (in usd per share) | 0 | 0 | ||
Options Outstanding, End of Period (in usd per share) | 14.41 | 14.40 | $ 14.41 | $ 14.40 |
Exercisable (in usd per share) | $ 14.39 | $ 14.37 | ||
Remaining contractual life (years) | 7 years 5 months | 8 years 4 months 15 days | 7 years 8 months | 8 years 6 months 20 days |
Aggregate intrinsic value (in usd) | $ 6,194 | $ 352 | $ 3,519 | $ 2,077 |
Equity Incentive Plan - Schedul
Equity Incentive Plan - Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions (Details) | 3 Months Ended | 12 Months Ended | |
Sep. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2013 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||
Weighted-average volatility | 0.00% | 18.90% | 28.19% |
Expected dividend yield | 0.00% | 0.00% | 0.00% |
Risk-free interest rate | 0.00% | 1.56% | 1.28% |
Expected life (years) | 0 years | 6 years | 6 years 6 months |
Equity Incentive Plan - Sched55
Equity Incentive Plan - Schedule of Nonvested Restricted Stock Units Activity (Details) - Restricted Stock - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | |||
Sep. 30, 2015 | Sep. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Restricted stock awards | ||||
Non-vested, Beginning Balance (in shares) | 310,470 | 403,965 | ||
Granted (in shares) | 0 | 0 | ||
Vested (in shares) | 0 | 0 | ||
Forfeited (in shares) | 450 | 0 | ||
Non-vested, Ending Balance (in shares) | 310,020 | 403,965 | ||
Weighted- average grant date fair value | ||||
Non-vested, Beginning Balance (in usd per share) | $ 14.40 | $ 14.39 | ||
Granted (in usd per share) | 0 | 0 | ||
Vested (in usd per share) | 0 | 0 | ||
Forfeited (in usd per share) | 14.37 | 0 | ||
Non-vested, Ending Balance (in usd per share) | $ 14.40 | $ 14.39 | ||
Aggregate intrinsic value (in usd) | $ 5,751 | $ 5,902 | $ 5,203 | $ 6,371 |
Commitments and Contingencies -
Commitments and Contingencies - Narrative (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2015 | |
Other Commitments | ||||
Unused commitments to extend credit | $ 56,739 | $ 43,629 | ||
Variable rate commitments | 29,002 | $ 24,020 | ||
Fixed rate commitments | 27,736 | $ 19,608 | ||
Remaining borrowing capacity | 296,735 | 250,762 | ||
Required cash reserve | 4,693 | 1,743 | ||
Letters of credit outstanding | 2,739 | 2,533 | ||
Litigation, damages sought | $ 12,500 | |||
Minimum | ||||
Other Commitments | ||||
Fixed interest rate (as a percent) | 1.99% | 1.99% | ||
Debt Instrument, Term | 3 years | |||
Maximum | ||||
Other Commitments | ||||
Fixed interest rate (as a percent) | 8.74% | 9.75% | ||
Loan Commitments Terms | 30 years | |||
Construction and development | ||||
Other Commitments | ||||
Unused commitments to extend credit | $ 66,825 | $ 43,989 |
Fair Value of Financial Instr57
Fair Value of Financial Instruments - Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Jun. 30, 2015 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Recurring | $ 249,711 | $ 257,606 |
Fair Value, Inputs, Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Recurring | 0 | 0 |
Fair Value, Inputs, Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Recurring | 248,711 | 256,606 |
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 | 1,000 |
US Government Agencies | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Recurring | 114,268 | 116,071 |
US Government Agencies | Fair Value, Inputs, Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Recurring | 0 | 0 |
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 | 114,268 | 116,071 |
US Government Agencies | Fair Value, Inputs, Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Recurring | 0 | 0 |
Government Agencies and Government Sponsored Enterprises | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Recurring | 114,105 | 120,809 |
Government Agencies and Government Sponsored Enterprises | Fair Value, Inputs, Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Recurring | 0 | 0 |
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 | 114,105 | 120,809 |
Government Agencies and Government Sponsored Enterprises | Fair Value, Inputs, Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Recurring | 0 | 0 |
Municipal Bonds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Recurring | 17,263 | 16,678 |
Municipal Bonds | Fair Value, Inputs, Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Recurring | 0 | 0 |
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 | 17,263 | 16,678 |
Municipal Bonds | Fair Value, Inputs, Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Recurring | 0 | 0 |
Corporate Bond Securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Recurring | 4,012 | 3,985 |
Corporate Bond Securities | Fair Value, Inputs, Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Recurring | 0 | 0 |
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 | 3,012 | 2,985 |
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 | 1,000 |
Equity Securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Recurring | 63 | 63 |
Equity Securities | Fair Value, Inputs, Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Recurring | 0 | 0 |
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 | 63 |
Equity Securities | Fair Value, Inputs, Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Recurring | $ 0 | $ 0 |
Fair Value of Financial Instr58
Fair Value of Financial Instruments - Schedule of Fair Value Measurements, Nonrecurring (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Jun. 30, 2015 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Nonrecurring | $ 4,803 | $ 7,382 |
Impaired loans | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Nonrecurring | 4,663 | 5,697 |
Other real estate owned | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Nonrecurring | 140 | 1,685 |
Fair Value, Inputs, Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Nonrecurring | 0 | 0 |
Fair Value, Inputs, Level 1 | Impaired loans | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Nonrecurring | 0 | 0 |
Fair Value, Inputs, Level 1 | Other real estate owned | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Nonrecurring | 0 | 0 |
Fair Value, Inputs, Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Nonrecurring | 0 | 0 |
Fair Value, Inputs, Level 2 | Impaired loans | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Nonrecurring | 0 | 0 |
Fair Value, Inputs, Level 2 | Other real estate owned | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Nonrecurring | 0 | 0 |
Fair Value, Inputs, Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Nonrecurring | 4,803 | 7,382 |
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 | 4,663 | 5,697 |
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 | $ 140 | $ 1,685 |
Fair Value of Financial Instr59
Fair Value of Financial Instruments - Schedule of Quantitative Information About Level 3 Fair Value Measurements (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Sep. 30, 2015 | Jun. 30, 2015 | |
Assets, Fair Value Disclosure, Nonrecurring | $ 4,803 | $ 7,382 |
Other real estate owned | ||
Assets, Fair Value Disclosure, Nonrecurring | 140 | 1,685 |
Fair Value, Inputs, Level 3 | ||
Assets, Fair Value Disclosure, Nonrecurring | 4,803 | 7,382 |
Fair Value, Inputs, Level 3 | Other real estate owned | ||
Assets, Fair Value Disclosure, Nonrecurring | 140 | $ 1,685 |
Fair Value, Inputs, Level 3 | Nonrecurring measurements | Impaired loans, net | ||
Assets, Fair Value Disclosure, Nonrecurring | $ 4,663 | |
Level 3 Fair Value Measurements Weighted Average Rate | 14.00% | |
Fair Value, Inputs, Level 3 | Nonrecurring measurements | Other real estate owned | ||
Assets, Fair Value Disclosure, Nonrecurring | $ 140 | |
Level 3 Fair Value Measurements Weighted Average Rate | 15.00% | |
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 | 80.00% | |
Maximum | Fair Value, Inputs, Level 3 | Nonrecurring measurements | Other real estate owned | ||
Fair Value Inputs, Collateral Discounts | 15.00% |
Fair Value of Financial Instr60
Fair Value of Financial Instruments - Schedule of Fair Value, by Balance Sheet Grouping (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Jun. 30, 2015 |
Fair Value, Inputs, Level 1 | Cash and interest-bearing deposits | ||
Financial Instruments Owned | $ 50,230 | $ 116,160 |
Fair Value, Inputs, Level 1 | Commercial paper | ||
Financial Instruments Owned | 242,928 | 256,152 |
Fair Value, Inputs, Level 1 | Certificates of deposit in other banks | ||
Financial Instruments Owned | 0 | 0 |
Fair Value, Inputs, Level 1 | Securities available for sale | ||
Financial Instruments Owned | 0 | 0 |
Fair Value, Inputs, Level 1 | Loans, net | ||
Financial Instruments Owned | 0 | 0 |
Fair Value, Inputs, Level 1 | Loans held for sale | ||
Financial Instruments Owned | 0 | 0 |
Fair Value, Inputs, Level 1 | FHLB Stock | ||
Financial Instruments Owned | 22,583 | 22,541 |
Fair Value, Inputs, Level 1 | FRB Stock | ||
Financial Instruments Owned | 6,170 | 6,170 |
Fair Value, Inputs, Level 1 | Accrued interest receivable | ||
Financial Instruments Owned | 0 | 0 |
Fair Value, Inputs, Level 1 | Noninterest-bearing and NOW deposits | ||
Financial Instruments Owned | 0 | 0 |
Fair Value, Inputs, Level 1 | Money market accounts | ||
Financial Instruments Owned | 0 | 0 |
Fair Value, Inputs, Level 1 | Savings accounts | ||
Financial Instruments Owned | 0 | 0 |
Fair Value, Inputs, Level 1 | Certificates of deposit | ||
Financial Instruments Owned | 0 | 0 |
Fair Value, Inputs, Level 1 | Other borrowings | ||
Financial Instruments Owned | 0 | 0 |
Fair Value, Inputs, Level 1 | Accrued interest payable | ||
Financial Instruments Owned | 0 | 0 |
Fair Value, Inputs, Level 2 | Cash and interest-bearing deposits | ||
Financial Instruments Owned | 0 | 0 |
Fair Value, Inputs, Level 2 | Commercial paper | ||
Financial Instruments Owned | 0 | 0 |
Fair Value, Inputs, Level 2 | Certificates of deposit in other banks | ||
Financial Instruments Owned | 196,386 | 210,629 |
Fair Value, Inputs, Level 2 | Securities available for sale | ||
Financial Instruments Owned | 248,711 | 256,606 |
Fair Value, Inputs, Level 2 | Loans, net | ||
Financial Instruments Owned | 0 | 0 |
Fair Value, Inputs, Level 2 | Loans held for sale | ||
Financial Instruments Owned | 0 | 0 |
Fair Value, Inputs, Level 2 | FHLB Stock | ||
Financial Instruments Owned | 0 | 0 |
Fair Value, Inputs, Level 2 | FRB Stock | ||
Financial Instruments Owned | 0 | 0 |
Fair Value, Inputs, Level 2 | Accrued interest receivable | ||
Financial Instruments Owned | 1,328 | 1,252 |
Fair Value, Inputs, Level 2 | Noninterest-bearing and NOW deposits | ||
Financial Instruments Owned | 582,626 | 591,429 |
Fair Value, Inputs, Level 2 | Money market accounts | ||
Financial Instruments Owned | 483,939 | 481,948 |
Fair Value, Inputs, Level 2 | Savings accounts | ||
Financial Instruments Owned | 216,689 | 221,674 |
Fair Value, Inputs, Level 2 | Certificates of deposit | ||
Financial Instruments Owned | 536,699 | 577,174 |
Fair Value, Inputs, Level 2 | Other borrowings | ||
Financial Instruments Owned | 476,000 | 475,000 |
Fair Value, Inputs, Level 2 | Accrued interest payable | ||
Financial Instruments Owned | 174 | 181 |
Fair Value, Inputs, Level 3 | Cash and interest-bearing deposits | ||
Financial Instruments Owned | 0 | 0 |
Fair Value, Inputs, Level 3 | Commercial paper | ||
Financial Instruments Owned | 0 | 0 |
Fair Value, Inputs, Level 3 | Certificates of deposit in other banks | ||
Financial Instruments Owned | 0 | 0 |
Fair Value, Inputs, Level 3 | Securities available for sale | ||
Financial Instruments Owned | 1,000 | 1,000 |
Fair Value, Inputs, Level 3 | Loans, net | ||
Financial Instruments Owned | 1,639,956 | 1,555,992 |
Fair Value, Inputs, Level 3 | Loans held for sale | ||
Financial Instruments Owned | 4,076 | 5,968 |
Fair Value, Inputs, Level 3 | FHLB Stock | ||
Financial Instruments Owned | 0 | 0 |
Fair Value, Inputs, Level 3 | FRB Stock | ||
Financial Instruments Owned | 0 | 0 |
Fair Value, Inputs, Level 3 | Accrued interest receivable | ||
Financial Instruments Owned | 6,586 | 6,270 |
Fair Value, Inputs, Level 3 | Noninterest-bearing and NOW deposits | ||
Financial Instruments Owned | 0 | 0 |
Fair Value, Inputs, Level 3 | Money market accounts | ||
Financial Instruments Owned | 0 | 0 |
Fair Value, Inputs, Level 3 | Savings accounts | ||
Financial Instruments Owned | 0 | 0 |
Fair Value, Inputs, Level 3 | Certificates of deposit | ||
Financial Instruments Owned | 0 | 0 |
Fair Value, Inputs, Level 3 | Other borrowings | ||
Financial Instruments Owned | 0 | 0 |
Fair Value, Inputs, Level 3 | Accrued interest payable | ||
Financial Instruments Owned | 0 | 0 |
Reported Value Measurement [Member] | Cash and interest-bearing deposits | ||
Financial Instruments Owned | 50,230 | 116,160 |
Reported Value Measurement [Member] | Commercial paper | ||
Financial Instruments Owned | 242,928 | 256,152 |
Reported Value Measurement [Member] | Certificates of deposit in other banks | ||
Financial Instruments Owned | 196,386 | 210,629 |
Reported Value Measurement [Member] | Securities available for sale | ||
Financial Instruments Owned | 249,711 | 257,606 |
Reported Value Measurement [Member] | Loans, net | ||
Financial Instruments Owned | 1,720,178 | 1,663,333 |
Reported Value Measurement [Member] | Loans held for sale | ||
Financial Instruments Owned | 4,012 | 5,874 |
Reported Value Measurement [Member] | FHLB Stock | ||
Financial Instruments Owned | 22,583 | 22,541 |
Reported Value Measurement [Member] | FRB Stock | ||
Financial Instruments Owned | 6,170 | 6,170 |
Reported Value Measurement [Member] | Accrued interest receivable | ||
Financial Instruments Owned | 7,914 | 7,522 |
Reported Value Measurement [Member] | Noninterest-bearing and NOW deposits | ||
Financial Instruments Owned | 582,626 | 591,429 |
Reported Value Measurement [Member] | Money market accounts | ||
Financial Instruments Owned | 483,939 | 481,948 |
Reported Value Measurement [Member] | Savings accounts | ||
Financial Instruments Owned | 216,689 | 221,674 |
Reported Value Measurement [Member] | Certificates of deposit | ||
Financial Instruments Owned | 536,696 | 577,075 |
Reported Value Measurement [Member] | Other borrowings | ||
Financial Instruments Owned | 476,000 | 475,000 |
Reported Value Measurement [Member] | Accrued interest payable | ||
Financial Instruments Owned | 174 | 181 |
Estimate of Fair Value Measurement [Member] | Cash and interest-bearing deposits | ||
Financial Instruments Owned | 50,230 | 116,160 |
Estimate of Fair Value Measurement [Member] | Commercial paper | ||
Financial Instruments Owned | 242,928 | 256,152 |
Estimate of Fair Value Measurement [Member] | Certificates of deposit in other banks | ||
Financial Instruments Owned | 196,386 | 210,629 |
Estimate of Fair Value Measurement [Member] | Securities available for sale | ||
Financial Instruments Owned | 249,711 | 257,606 |
Estimate of Fair Value Measurement [Member] | Loans, net | ||
Financial Instruments Owned | 1,639,956 | 1,555,992 |
Estimate of Fair Value Measurement [Member] | Loans held for sale | ||
Financial Instruments Owned | 4,076 | 5,968 |
Estimate of Fair Value Measurement [Member] | FHLB Stock | ||
Financial Instruments Owned | 22,583 | 22,541 |
Estimate of Fair Value Measurement [Member] | FRB Stock | ||
Financial Instruments Owned | 6,170 | 6,170 |
Estimate of Fair Value Measurement [Member] | Accrued interest receivable | ||
Financial Instruments Owned | 7,914 | 7,522 |
Estimate of Fair Value Measurement [Member] | Noninterest-bearing and NOW deposits | ||
Financial Instruments Owned | 582,626 | 591,429 |
Estimate of Fair Value Measurement [Member] | Money market accounts | ||
Financial Instruments Owned | 483,939 | 481,948 |
Estimate of Fair Value Measurement [Member] | Savings accounts | ||
Financial Instruments Owned | 216,689 | 221,674 |
Estimate of Fair Value Measurement [Member] | Certificates of deposit | ||
Financial Instruments Owned | 536,699 | 577,174 |
Estimate of Fair Value Measurement [Member] | Other borrowings | ||
Financial Instruments Owned | 476,000 | 475,000 |
Estimate of Fair Value Measurement [Member] | Accrued interest payable | ||
Financial Instruments Owned | $ 174 | $ 181 |
Fair Value of Financial Instr61
Fair Value of Financial Instruments - Off-Balance-Sheet Credit Exposure (Details) - USD ($) $ in Thousands | Sep. 30, 2015 | Jun. 30, 2015 |
Fair Value Disclosures [Abstract] | ||
Fair Value Disclosure, Off-balance Sheet Risks, Amount, Liability | $ 420,299 | $ 338,380 |