Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Dec. 31, 2018 | Feb. 07, 2019 | |
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 | Dec. 31, 2018 | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q2 | |
Amendment Flag | false | |
Entity Common Stock, Shares Outstanding | 18,394,436 | |
Entity Emerging Growth Company | false | |
Entity Small Business | false |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2018 | Jun. 30, 2018 |
Assets | ||
Cash | $ 44,425 | $ 45,222 |
Interest-bearing deposits | 26,881 | 25,524 |
Cash and cash equivalents | 71,306 | 70,746 |
Commercial paper | 239,286 | 229,070 |
Certificates of deposit in other banks | 51,936 | 66,937 |
Debt securities available for sale, at fair value | 149,752 | 154,993 |
Other investments, at cost | 44,858 | 41,931 |
Loans held for sale | 13,095 | 5,873 |
Total loans, net of deferred loan fees | 2,632,231 | 2,525,852 |
Allowance for loan losses | (21,419) | (21,060) |
Net loans | 2,610,812 | 2,504,792 |
Premises and equipment, net | 66,610 | 62,537 |
Accrued interest receivable | 10,372 | 9,344 |
Real estate owned (REO) | 2,955 | 3,684 |
Deferred income taxes | 28,533 | 32,565 |
Bank owned life insurance (BOLI) | 89,156 | 88,028 |
Goodwill | 25,638 | 25,638 |
Core deposit intangibles | 3,436 | 4,528 |
Other assets | 5,354 | 3,503 |
Total assets acquired | 3,413,099 | 3,304,169 |
Liabilities | ||
Deposits | 2,258,069 | 2,196,253 |
Borrowings | 688,000 | 635,000 |
Capital lease obligations | 1,897 | 1,914 |
Other liabilities | 54,163 | 61,760 |
Total liabilities assumed | 3,002,129 | 2,894,927 |
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, 18,520,825 shares issued and outstanding at December 31, 2018; 19,041,668 at June 30, 2018 | 185 | 191 |
Additional paid in capital | 203,660 | 217,480 |
Retained earnings | 215,289 | 200,575 |
Unearned Employee Stock Ownership Plan (ESOP) shares | (7,142) | (7,406) |
Accumulated other comprehensive loss | (1,022) | (1,598) |
Total stockholders' equity | 410,970 | 409,242 |
Total Liabilities and Stockholders' Equity | $ 3,413,099 | $ 3,304,169 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - $ / shares | Dec. 31, 2018 | Jun. 30, 2018 |
Statement of Financial Position [Abstract] | ||
Preferred stock par value (in dollars per share) | $ 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 (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock shares authorized | 60,000,000 | 60,000,000 |
Common stock shares issued | 18,520,825 | 19,041,668 |
Common stock shares outstanding | 18,520,825 | 19,041,668 |
Consolidated Statements of Inco
Consolidated Statements of Income (Loss) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | |
Interest and Dividend Income | ||||
Loans | $ 30,544 | $ 26,140 | $ 59,272 | $ 51,390 |
Securities available for sale | 876 | 904 | 1,732 | 1,875 |
Commercial paper and interest-bearing deposits in other banks | 1,966 | 1,303 | 3,823 | 2,472 |
Other investments | 1,014 | 631 | 1,853 | 1,257 |
Total interest and dividend income | 34,400 | 28,978 | 66,680 | 56,994 |
Interest Expense | ||||
Deposits | 3,607 | 1,541 | 6,357 | 2,887 |
Borrowings | 3,692 | 2,077 | 6,950 | 4,046 |
Total interest expense | 7,299 | 3,618 | 13,307 | 6,933 |
Net Interest Income | 27,101 | 25,360 | 53,373 | 50,061 |
Provision for Loan Losses | 0 | 0 | 0 | 0 |
Net Interest Income after Provision for Loan Losses | 27,101 | 25,360 | 53,373 | 50,061 |
Noninterest Income | ||||
Service charges and fees on deposit accounts | 2,577 | 1,987 | 4,978 | 3,831 |
Loan income and fees | 295 | 197 | 623 | 580 |
Gain on sale of loans held for sale | 944 | 1,164 | 2,614 | 1,883 |
BOLI income | 520 | 518 | 1,056 | 1,080 |
Gain from sale of premises and equipment | 0 | 0 | 0 | 164 |
Other, net | 749 | 593 | 1,427 | 1,183 |
Total noninterest income | 5,085 | 4,459 | 10,698 | 8,721 |
Noninterest Expense | ||||
Salaries and employee benefits | 12,857 | 11,973 | 25,542 | 24,325 |
Net occupancy expense | 2,551 | 2,473 | 4,898 | 4,822 |
Marketing and advertising | 402 | 319 | 819 | 772 |
Telephone, postage, and supplies | 743 | 748 | 1,512 | 1,433 |
Deposit insurance premiums | 335 | 419 | 639 | 833 |
Computer services | 1,895 | 1,595 | 3,744 | 3,140 |
Loss (gain) on sale and impairment of REO | 75 | 104 | 254 | (42) |
REO expense | 173 | 205 | 348 | 446 |
Core deposit intangible amortization | 526 | 681 | 1,092 | 1,400 |
Other | 2,301 | 2,460 | 4,893 | 4,734 |
Total noninterest expense | 21,858 | 20,977 | 43,741 | 41,863 |
Income Before Income Taxes | 10,328 | 8,842 | 20,330 | 16,919 |
Income Tax Expense | 2,287 | 19,508 | 4,499 | 22,018 |
Net Income (Loss) | $ 8,041 | $ (10,666) | $ 15,831 | $ (5,099) |
Net income (loss) per common share: | ||||
Basic (in dollars per share) | $ 0.45 | $ (0.59) | $ 0.88 | $ (0.28) |
Diluted (in dollars per share) | 0.43 | (0.59) | 0.84 | (0.28) |
Cash dividends declared per common share (in dollars per share) | $ 0.06 | $ 0 | $ 0.06 | $ 0 |
Average shares outstanding: | ||||
Basic (in shares) | 17,797,553 | 17,975,883 | 17,961,465 | 17,971,439 |
Diluted (in shares) | 18,497,334 | 17,975,883 | 18,689,584 | 17,971,439 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | |
Statement of Comprehensive Income [Abstract] | ||||
Net Income | $ 8,041 | $ (10,666) | $ 15,831 | $ (5,099) |
Other Comprehensive Income (Loss) | ||||
Gains (losses) arising during the period | 1,126 | (1,009) | 748 | (859) |
Deferred income tax benefit (expense) | (259) | 303 | (172) | 258 |
Total other comprehensive income (loss) | 867 | (706) | 576 | (601) |
Comprehensive Income (Loss) | $ 8,908 | $ (11,372) | $ 16,407 | $ (5,700) |
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) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Cumulative-effect adjustment on the change in accounting for share-based payments | $ 680 | $ 680 | ||||
Balance at beginning of period (in shares) at Jun. 30, 2017 | 18,967,875 | |||||
Balance at beginning of period at Jun. 30, 2017 | 397,647 | $ 190 | $ 213,459 | 191,660 | $ (7,935) | $ 273 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net loss | $ (5,099) | (5,099) | ||||
Forfeited restricted stock (in shares) | (6,600) | |||||
Granted restricted stock (in shares) | 2,000 | |||||
Exercised stock options (in shares) | 3,900 | 3,900 | ||||
Exercised stock options | $ 57 | 57 | ||||
Stock option expense | 1,209 | 1,209 | ||||
Restricted stock expense | 805 | 805 | ||||
ESOP shares allocated | 663 | 398 | 265 | |||
Other comprehensive loss | (601) | (601) | ||||
Balance at end of period (in shares) at Dec. 31, 2017 | 18,967,175 | |||||
Balance at end of period at Dec. 31, 2017 | $ 395,361 | $ 190 | 215,928 | 187,241 | (7,670) | (328) |
Balance at beginning of period (in shares) at Jun. 30, 2018 | 19,041,668 | 19,041,668 | ||||
Balance at beginning of period at Jun. 30, 2018 | $ 409,242 | $ 191 | 217,480 | 200,575 | (7,406) | (1,598) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net loss | 15,831 | 15,831 | ||||
Cash dividends declared on common stock | (1,117) | (1,117) | ||||
Shares repurchased (in shares) | (559,755) | |||||
Stock repurchased | (15,646) | $ (6) | (15,640) | |||
Forfeited restricted stock (in shares) | (2,700) | |||||
Retired stock (in shares) | (588) | |||||
Retired stock | $ (17) | (17) | ||||
Exercised stock options (in shares) | 42,200 | 42,200 | ||||
Exercised stock options | $ 608 | 608 | ||||
Stock option expense | 359 | 359 | ||||
Restricted stock expense | 397 | 397 | ||||
ESOP shares allocated | 737 | 473 | 264 | |||
Other comprehensive loss | $ 576 | 576 | ||||
Balance at end of period (in shares) at Dec. 31, 2018 | 18,520,825 | 18,520,825 | ||||
Balance at end of period at Dec. 31, 2018 | $ 410,970 | $ 185 | $ 203,660 | $ 215,289 | $ (7,142) | $ (1,022) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Cumulative-effect adjustment on the change in accounting for share-based payments | $ 0 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows $ in Thousands | 6 Months Ended | |
Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | |
Operating Activities: | ||
Net loss | $ 15,831 | $ (5,099) |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||
Depreciation | 2,144 | 1,950 |
Deferred income tax expense | 3,860 | 21,780 |
Net amortization and accretion | (3,611) | (2,567) |
Gain from sale of premises and equipment | 0 | (164) |
Loss (gain) on sale and impairment of REO | 254 | (42) |
Gain on sale of loans held for sale | (2,614) | (1,883) |
Origination of loans held for sale | (79,420) | (68,114) |
Proceeds from sales of loans held for sale | 78,998 | 66,999 |
Increase (decrease) in deferred loan fees, net | (265) | 297 |
Increase in accrued interest receivable and other assets | (2,816) | (2,818) |
Amortization of core deposit intangibles | 1,092 | 1,400 |
BOLI income | (1,056) | (1,080) |
ESOP compensation expense | 737 | 663 |
Restricted stock and stock option expense | 756 | 2,014 |
Decrease in other liabilities | (7,597) | (1,904) |
Net cash provided by operating activities | 6,293 | 11,432 |
Investing Activities: | ||
Purchase of securities available for sale | (15,750) | 0 |
Proceeds from maturities of securities available for sale | 11,565 | 19,680 |
Net purchases of commercial paper | (7,204) | (48,440) |
Purchase of certificates of deposit in other banks | (6,709) | (12,619) |
Maturities of certificates of deposit in other banks | 21,710 | 44,544 |
Principal repayments of mortgage-backed securities | 9,668 | 10,941 |
Net redemptions (purchases) of other investments | (2,927) | 478 |
Net increase in loans | (108,995) | (64,275) |
Purchase of BOLI | (79) | (69) |
Proceeds from redemption of BOLI | 7 | 146 |
Purchase of premises and equipment | (692) | (1,496) |
Purchase of operating lease equipment | (5,525) | 0 |
Capital improvements to REO | 0 | (18) |
Proceeds from sale of premises and equipment | 0 | 923 |
Proceeds from sale of REO | 571 | 2,151 |
Net cash used in investing activities | (104,360) | (48,054) |
Financing Activities: | ||
Net increase in deposits | 61,816 | 59,757 |
Net increase (decrease) in other borrowings | 53,000 | (11,500) |
Common stock repurchased | (15,646) | 0 |
Cash dividend declared | (1,117) | 0 |
Retired stock | (17) | 0 |
Exercised stock options | 608 | 57 |
Decrease in capital lease obligations | (17) | (12) |
Net cash provided by financing activities | 98,627 | 48,302 |
Net Increase in Cash and Cash Equivalents | 560 | 11,680 |
Cash and Cash Equivalents at Beginning of Period | 70,746 | 86,985 |
Cash and Cash Equivalents at End of Period | 71,306 | 98,665 |
Cash paid during the period for: | ||
Interest | 12,534 | 6,788 |
Income taxes | 277 | 266 |
Noncash transactions: | ||
Unrealized gain (loss) in value of securities available for sale, net of income taxes | 576 | (601) |
Transfers of loans to REO | 96 | 591 |
Transfers of loans held for sale from loans held for investment | 5,794 | 0 |
Cumulative-effect adjustment on the change in accounting for share-based payments | 0 | |
Transfers of loans to held for sale to loans held for investment | $ 1,608 | $ 1,533 |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 6 Months Ended |
Dec. 31, 2018 | |
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 (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, 2018 (" 2018 Form 10-K") filed with the SEC on September 13, 2018 . The results of operations for the three and six months ended December 31, 2018 are not necessarily indicative of results that may be expected for the entire fiscal year ending June 30, 2019 . 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 2018 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. Certain amounts reported in prior periods' consolidated financial statements have been reclassified to conform to the current presentation. Such reclassifications had no effect on previously reported cash flows, stockholders' equity or net income. |
Recent Accounting Pronouncement
Recent Accounting Pronouncements | 6 Months Ended |
Dec. 31, 2018 | |
Accounting Changes and Error Corrections [Abstract] | |
Recent Accounting Pronouncements | Recent Accounting Pronouncements In August 2015, the Financial Accounting Standards Board ("FASB") issued ASU No. 2015-14, “Revenue from Contracts with Customers (Topic 606)”, which defers the effective date of Accounting Standard Update ("ASU") No. 2014-09 one year. ASU No. 2014-09 created Topic 606 and supersedes Topic 605, Revenue Recognition. The core principle of Topic 606 is that an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In general, the new guidance requires companies to use more judgment and make more estimates than under current guidance, including identifying performance obligations in the contract, estimating the amount of variable consideration to include in the transaction price and allocating the transaction price to each separate performance obligation. In May 2016, the FASB issued ASU No. 2016-12, "Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients," which provides clarifying guidance in certain narrow areas and adds some practical expedients, but does not change the core revenue recognition principle in Topic 606. For financial reporting purposes, the standard allows for either full retrospective adoption, meaning the standard is applied to all of the periods presented, or modified retrospective adoption, meaning the standard is applied only to the most current period presented in the financial statements with the cumulative effect of initially applying the standard recognized at the date of initial application. A significant amount of the Company’s revenues are derived from net interest income on financial assets and liabilities, which are excluded from the scope of the amended guidance. The Company adopted this ASU on July 1, 2018. The adoption did not have a material effect on the Company's Consolidated Financial Statements. However, additional disclosures required by this ASU have been included in “Note 12 - Revenue” to the Company’s consolidated financial statements. In January 2016, the FASB issued ASU 2016-01, "Financial Instruments (Subtopic 825-10) Recognition and Measurement of Financial Assets and Financial Liabilities." The ASU amends the guidance in GAAP on the classification and measurement of financial instruments. The ASU includes the following changes: i) equity investments (except those accounted for under the equity method of accounting, or those that result in consolidation of the investee) to be measured at fair value with changes in fair value recognized in net income; (ii) requires the use of exit price notion when measuring the fair value of financial instruments for disclosure purposes; (iii) require separate presentation of financial assets and financial liabilities by measurement category and form of financial asset (i.e. securities or loans and receivables) on the balance sheet or the accompanying notes to the financial statements; (iv) allows an equity investment that does not have readily determinable fair values, to be measured at cost minus impairment (if any), plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the same issuer; (v) eliminates the requirement to disclose the method(s) and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost on the balance sheet, and requires a reporting organization to present separately in other comprehensive income the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk (also referred to as “own credit”) when the organization has elected to measure the liability at fair value in accordance with the fair value option for financial instruments; (vi) requires separate presentation of financial assets and financial liabilities by measurement category and form of financial asset (i.e. securities or loans and receivables) on the balance sheet or in the accompanying notes to the financial statements; and (vii) clarifies that a valuation allowance on a deferred tax asset related to available-for-sale securities should be evaluated in combination with the organization’s other deferred tax assets. Exit price is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Company adopted this ASU on July 1, 2018. The adoption did not have a material effect on the Company's Consolidated Financial Statements. The disclosures to the Company’s consolidated financial statements have been updated appropriately using the exit price notion in “Note 11 - Fair Value of Financial Instruments.” In February 2016, the FASB issued ASU 2016-02, "Leases (Accounting Standards Codification ("ASC") 842)." The guidance in this ASU requires most leases to be recognized on the balance sheet as a right-of-use asset and a lease liability. It will be critical to identify leases embedded in a contract to avoid misstating the lessee’s balance sheet. For income statement purposes, the FASB retained a dual model, requiring leases to be classified as either operating or finance. Classification will be based on criteria that are largely similar to those applied in current lease accounting, but without explicit bright lines. The amendments in this ASU are effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2018. In July 2018, the FASB issued ASU 2018-10, "Codification Improvements to Topic 842, Leases" and ASU 2018-11 "Leases (Topic 842): Targeted Improvements." ASU 2018-10 made 16 narrow-scope amendments to ASC 842. The amendments in this ASU 2018-11 are intended to provide entities with relief from the costs of implementing certain aspects of the the new lease accounting standard. Specifically, an entity can elect not to recast the comparative periods presented when transitioning to ASC 842 and provides a lessor with the option to not separate lease and nonlease components when certain conditions are met. This ASU also provides a new transition method in addition to the existing transition method contained in ASU No. 2016-02 to allow entities to initially apply the new leases standard at the adoption date and recognize a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption. These amendments have the same effective date as ASU 2016-02. We are currently evaluating the impact of this guidance on our Consolidated Financial Statements and the timing of adoption. The Company will compile an inventory of all leased assets to determine the impact of ASU 2016-02 on its financial condition and results of operations. The effect of the adoption of these ASUs will depend on leases at time of adoption. Once adopted, we expect to report higher assets and liabilities on our Consolidated Balance Sheets as a result of including right-of-use assets and lease liabilities related to certain banking offices and certain equipment under noncancelable operating lease agreements, which currently are not reflected in our Consolidated Balance Sheets. We do not expect the guidance to have a material impact on the Consolidated Statements of Income or the Consolidated Statements of Changes in Stockholders' Equity. In June 2016, the FASB issued ASU No. 2016-13, "Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments." The ASU significantly changes the impairment model for most financial assets that are measured at amortized cost and certain other instruments from an incurred loss model to an expected loss model. This ASU is effective for interim and annual reporting periods beginning after December 15, 2019. Early adoption is permitted for all entities beginning after December 15, 2018, including interim periods within those fiscal years. The Company is evaluating our current expected loss methodology of our loan and investment portfolios to identify the necessary modifications in accordance with this standard and expects a change in the processes and procedures to calculate the allowance for loan losses, including changes in assumptions and estimates to consider expected credit losses over the life of the loan versus the current accounting practice that utilizes the incurred loss model. A valuation adjustment to our allowance for loan losses or investment portfolio that is identified in this process will be reflected as a one-time adjustment in equity rather than earnings. The Company is in the process of compiling historical data that will be used to calculate expected credit losses on its loan portfolio to ensure it is fully compliant with the ASU at the adoption date and is evaluating the potential impact adoption of this ASU will have on its consolidated financial statements. Once adopted, the Company expects its allowance for loan losses to increase, however, until its evaluation is complete the magnitude of the increase will be unknown. In August 2016, the FASB issued ASU No. 2016-15, "Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments." The ASU amends the guidance on the classification of certain cash receipts and payments in the statement of cash flows and is intended to reduce the diversity in practice. The Company adopted this ASU on July 1, 2018. The adoption did not have a material effect on the Company's Consolidated Financial Statements. In March 2017, FASB issued ASU 2017-08, "Receivables-Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities." The ASU requires entities to amortize the premium on certain purchased callable debt securities to the earliest call date, which more closely aligns the amortization period of premiums and discounts to expectations incorporated in the market prices. Entities will no longer recognize a loss in earnings upon the debtor's exercise of a call on a purchased debt security held at a premium. The ASU does not require any accounting change for debt securities held at a discount, therefore the discount will continue to be amortized as an adjustment of yield over the contractual life of the investment. This ASU is effective for interim and annual reporting periods, beginning after December 15, 2018. Early adoption is permitted for all entities. The adoption of ASU No. 2017-08 is not expected to have a material impact on the Company's Consolidated Financial Statements. In May 2017, the FASB issued ASU 2017-09, "Compensation-Stock Compensation (Topic 718): Scope of Modification Accounting." This ASU provides clarity on the guidance related to stock compensation when there have been changes to the terms or conditions of a share-based payment award to which an entity would be required to apply modification accounting under ASC 718. The ASU provides the three following criteria must be met in order to not account for the effect of the modification of terms or conditions: the fair value, the vesting conditions and the classification as an equity or liability instrument of the modified award is the same as the original award immediately before the original award is modified. The Company adopted this ASU on July 1, 2018. The adoption did not have a material effect on the Company's Consolidated Financial Statements. In August 2017, FASB issued ASU 2017-12, "Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities." This ASU improves the transparency and understandability of disclosures in the financial statements regarding the entities risk management activities and reduces the complexity of hedge accounting. The amendments in this ASU permit hedge accounting for hedging relationships involving nonfinancial risk and interest rate risk by removing certain limitations in cash flow and fair value hedging relationships. In addition, the ASU requires an entity to present the earnings effect of the hedging instrument in the same income statement line item in which the earnings effect of the hedged item is reported. The amendments in this ASU are effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2018 and early adoption is permitted. The adoption of ASU No. 2017-12 is not expected to have a material impact on the Company's Consolidated Financial Statements. In February 2018, FASB issued ASU 2018-02, "Income Statement-Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income." The ASU allows a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the revaluation of the Company’s net deferred tax assets (“DTA”) to the new corporate federal income tax rate of 21% as a result of the Tax Cuts and Jobs Act (‘Tax Act”). The Company elected to early adopt this ASU during the year ended June 30, 2018. The affected amount for the Company was immaterial and did not have an effect on the Company's Consolidated Financial Statements. In March 2018, FASB issued ASU No. 2018-05, "Income Taxes (Topic 740)." This ASU was issued to provide guidance on the income tax accounting implications of the Tax Act and allows for entities to report provisional amounts for specific income tax effects of the Act for which the accounting under Topic 740 was not yet complete, but a reasonable estimate could be determined. A measurement period of one-year is allowed to complete the accounting effects under Topic 740 and revise any previous estimates reported. Any provisional amounts or subsequent adjustments included in an entity’s financial statements during the measurement period should be included in income from continuing operations as an adjustment to tax expense in the reporting period the amounts are determined. The Company adopted this ASU with the provisional adjustments as reported in the Consolidated Financial Statements on Form 10-Q as of December 31, 2017. As of June 30, 2018, the Company did not incur any adjustments to the provisional recognition. In August 2018, the FASB issued ASU 2018-13, "Fair Value Measurement (Topic 820): Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement." The amendments in this ASU removes, modifies, and adds certain disclosure requirements related to fair value measurements in ASC 820. The amendments in this ASU are effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2019 and early adoption is permitted. The adoption of ASU No. 2018-13 is not expected to have a material impact on the Company's Consolidated Financial Statements. In November 2018, the FASB issued ASU 2018-19, "Codification Improvements to Topic 326, Financial Instruments—Credit Losses." This update clarifies that receivables arising from operating leases are not within the scope of Subtopic 326-20. Instead, impairment of receivables arising from operating leases should be accounted for in accordance with Topic 842, Leases. The effective date and transition requirements for this ASU are the same as ASU 2016-13. The adoption of ASU No. 2018-19 is not expected to have a material impact on the Company's Consolidated Financial Statements. In December 2018, the FASB issued ASU 2018-20, "Leases (Topic 842): Narrow-Scope Improvements for Lessors." The amendments in this update permit lessors, as an accounting policy election, to not evaluate whether certain sales taxes and other similar taxes are lessor costs or lessee costs. Instead, those lessors will account for those costs as if they are lessee costs. A lessor making this election will exclude from the consideration in the contract and from variable payments not included in the consideration in the contract all collections from lessees of taxes within the scope of the election and will provide certain disclosures. For certain lessor costs, the lessor must exclude from variable payments, and therefore revenue, lessor costs paid by lessees directly to third parties from variable payments. In addition, the lessor must account for costs excluded from the consideration of a contract that are paid by the lessor and reimbursed by the lessee as variable payments. A lessor will record those reimbursed costs as revenue. The amendments in this ASU related to recognizing variable payments for contracts with lease and nonlease components require lessors to allocate (rather than recognize as currently required) certain variable payments to the lease and nonlease components when the changes in facts and circumstances on which the variable payment is based occur. After the allocation, the amount of variable payments allocated to the lease components will be recognized as income in profit or loss in accordance with Topic 842, while the amount of variable payments allocated to nonlease components will be recognized in accordance with other Topics, such as Topic 606. The effective date and transition requirements for this ASU are the same as ASU 2016-02. The adoption of ASU No. 2018-20 is not expected to have a material impact on the Company's Consolidated Financial Statements. |
Debt Securities
Debt Securities | 6 Months Ended |
Dec. 31, 2018 | |
Investments, Debt and Equity Securities [Abstract] | |
Debt Securities | Debt Securities Securities available for sale consist of the following at the dates indicated: December 31, 2018 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value U.S. Government Agencies $ 38,064 $ 7 $ (208 ) $ 37,863 Residential Mortgage-backed Securities of U.S. Government Agencies and Government-Sponsored Enterprises 77,888 106 (1,068 ) 76,926 Municipal Bonds 29,014 196 (130 ) 29,080 Corporate Bonds 6,114 8 (239 ) 5,883 Total $ 151,080 $ 317 $ (1,645 ) $ 149,752 June 30, 2018 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value U.S. Government Agencies $ 48,025 $ 1 $ (484 ) $ 47,542 Residential Mortgage-backed Securities of U.S. Government Agencies and Government-Sponsored Enterprises 71,949 88 (1,438 ) 70,599 Municipal Bonds 30,865 127 (226 ) 30,766 Corporate Bonds 6,166 25 (168 ) 6,023 Equity Securities 63 — — 63 Total $ 157,068 $ 241 $ (2,316 ) $ 154,993 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. Available-For-Sale December 31, 2018 Amortized Cost Estimated Fair Value Due within one year $ 18,233 $ 18,191 Due after one year through five years 41,534 41,102 Due after five years through ten years 5,352 5,480 Due after ten years 8,073 8,053 Mortgage-backed securities 77,888 76,926 Total $ 151,080 $ 149,752 The Company had no sales of securities available for sale during the three and six months ended December 31, 2018 and 2017. There were no gross realized gains or losses for the three and six months ended December 31, 2018 and 2017. Securities available for sale with costs totaling $126,758 and $136,914 and market values of $125,765 and $135,313 at December 31, 2018 and June 30, 2018 , respectively, were pledged as collateral to secure various public deposits and other borrowings. 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 December 31, 2018 and June 30, 2018 were as follows: December 31, 2018 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 $ 7,127 $ (29 ) $ 29,804 $ (179 ) $ 36,931 $ (208 ) Residential Mortgage-backed Securities of U.S. Government Agencies and Government-Sponsored Enterprises 26,536 (192 ) 38,370 (876 ) 64,906 (1,068 ) Municipal Bonds 5,555 (20 ) 10,719 (110 ) 16,274 (130 ) Corporate Bonds 1,364 (64 ) 3,514 (175 ) 4,878 (239 ) Total $ 40,582 $ (305 ) $ 82,407 $ (1,340 ) $ 122,989 $ (1,645 ) June 30, 2018 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 $ 10,962 $ (93 ) $ 35,605 $ (391 ) $ 46,567 $ (484 ) Residential Mortgage-backed Securities of U.S. Government Agencies and Government-Sponsored Enterprises 39,238 (827 ) 21,297 (611 ) 60,535 (1,438 ) Municipal Bonds 19,795 (208 ) 1,446 (18 ) 21,241 (226 ) Corporate Bonds — — 3,566 (168 ) 3,566 (168 ) Total $ 69,995 $ (1,128 ) $ 61,914 $ (1,188 ) $ 131,909 $ (2,316 ) The total number of securities with unrealized losses at December 31, 2018 , and June 30, 2018 were 201 and 218 , 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 six months ended December 31, 2018 or the year ended June 30, 2018 . |
Other Investments
Other Investments | 6 Months Ended |
Dec. 31, 2018 | |
Investments, All Other Investments [Abstract] | |
Other Investments | Other Investments Other investments, at cost consist of the following at the dates indicated: December 31, 2018 June 30, 2018 FHLB of Atlanta (1) $ 32,159 $ 29,907 Federal Reserve Bank of Richmond ("FRB") (1) 7,315 7,307 Small Business Investment Companies ("SBIC") (2)(3) 5,384 4,717 Total $ 44,858 $ 41,931 (1) As a requirement for membership, the Bank invests in the stock of both the FHLB of Atlanta and the Federal Reserve Bank of Richmond ("FRB"). No ready market exists for these securities so carrying value approximates their fair value based on the redemption provisions of the FHLB of Atlanta and the FRB, respectively. (2) SBIC investment funds are considered nonmarketable investment securities and are qualified investments under the Community Reinvestment Act. (3) Prior to the adoption of ASU 2016-01, SBIC Investments were maintained in other assets. |
Loans
Loans | 6 Months Ended |
Dec. 31, 2018 | |
Receivables [Abstract] | |
Loans | Loans Loans consist of the following at the dates indicated: December 31, 2018 June 30, 2018 Retail consumer loans: One-to-four family $ 661,374 $ 664,289 HELOCs - originated 135,430 137,564 HELOCs - purchased 138,571 166,276 Construction and land/lots 74,507 65,601 Indirect auto finance 170,516 173,095 Consumer 13,520 12,379 Total retail consumer loans 1,193,918 1,219,204 Commercial loans: Commercial real estate 904,357 857,315 Construction and development 198,738 192,102 Commercial and industrial 224,582 148,823 Municipal leases 111,135 109,172 Total commercial loans 1,438,812 1,307,412 Total loans 2,632,730 2,526,616 Deferred loan fees, net (499 ) (764 ) Total loans, net of deferred loan fees 2,632,231 2,525,852 Allowance for loan losses (21,419 ) (21,060 ) Loans, net $ 2,610,812 $ 2,504,792 All qualifying one-to-four family first mortgage loans, HELOCs, commercial real estate loans, 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 December 31, 2018 Retail consumer loans: One-to-four family $ 640,265 $ 2,425 $ 11,423 $ 249 $ 12 $ 655,084 HELOCs - originated 133,741 111 1,149 — 6 135,205 HELOCs - purchased 138,385 — 185 — — 138,571 Construction and land/lots 74,081 16 485 — — 74,116 Indirect auto finance 169,932 — 550 — 2 170,516 Consumer 12,773 16 801 3 9 13,520 Commercial loans: Commercial real estate 882,901 8,513 12,476 — — 896,381 Construction and development 194,423 888 2,649 120 — 197,367 Commercial and industrial 220,974 1,706 167 — 3 222,788 Municipal leases 110,839 296 — — — 111,135 Total loans $ 2,578,314 $ 13,971 $ 29,885 $ 372 $ 32 $ 2,614,683 Pass Special Mention Substandard Doubtful Loss Total June 30, 2018 Retail consumer loans: One-to-four family $ 643,077 $ 3,576 $ 10,059 $ 746 $ 14 $ 657,472 HELOCs - originated 135,336 113 1,735 150 6 137,340 HELOCs - purchased 166,089 — 187 — — 166,276 Construction and land/lots 64,823 23 257 54 — 65,157 Indirect auto finance 172,675 — 420 — — 173,095 Consumer 11,723 85 558 2 11 12,379 Commercial loans: Commercial real estate 835,485 5,804 6,787 — — 848,076 Construction and development 187,187 621 2,067 — — 189,875 Commercial and industrial 145,177 1,279 414 — — 146,870 Municipal leases 108,864 308 — — — 109,172 Total loans $ 2,470,436 $ 11,809 $ 22,484 $ 952 $ 31 $ 2,505,712 The Company's total purchased credit impaired ("PCI") loans by segment, class, and risk grade at the dates indicated follow: Pass Special Mention Substandard Doubtful Loss Total December 31, 2018 Retail consumer loans: One-to-four family $ 4,404 $ 259 $ 1,627 $ — $ — $ 6,290 HELOCs - originated 225 — — — — 225 Construction and land/lots 155 — 236 — — 391 Commercial loans: Commercial real estate 4,593 1,954 1,429 — — 7,976 Construction and development 501 — 870 — — 1,371 Commercial and industrial 1,791 — — — 3 1,794 Total loans $ 11,669 $ 2,213 $ 4,162 $ — $ 3 $ 18,047 Pass Special Mention Substandard Doubtful Loss Total June 30, 2018 Retail consumer loans: One-to-four family $ 4,620 $ 388 $ 1,809 $ — $ — $ 6,817 HELOCs - originated 224 — — — — 224 Construction and land/lots 444 — — — — 444 Commercial loans: Commercial real estate 4,718 2,162 2,359 — — 9,239 Construction and development 547 — 1,680 — — 2,227 Commercial and industrial 1,894 — 59 — — 1,953 Total loans $ 12,447 $ 2,550 $ 5,907 $ — $ — $ 20,904 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 December 31, 2018 Retail consumer loans: One-to-four family $ 2,328 $ 1,747 $ 4,075 $ 657,299 $ 661,374 HELOCs - originated 203 333 536 134,894 135,430 HELOCs - purchased 564 — 564 138,007 138,571 Construction and land/lots 37 — 37 74,470 74,507 Indirect auto finance 392 130 522 169,994 170,516 Consumer 185 40 225 13,295 13,520 Commercial loans: Commercial real estate 5,165 559 5,724 898,633 904,357 Construction and development 1 1,396 1,397 197,341 198,738 Commercial and industrial 8 53 61 224,521 224,582 Municipal leases 24 — 24 111,111 111,135 Total loans $ 8,907 $ 4,258 $ 13,165 $ 2,619,565 $ 2,632,730 Past Due Total 30-89 Days 90 Days+ Total Current Loans June 30, 2018 Retail consumer loans: One-to-four family $ 3,001 $ 1,756 $ 4,757 $ 659,532 $ 664,289 HELOCs - originated 98 268 366 137,198 137,564 HELOCs - purchased — — — 166,276 166,276 Construction and land/lots 44 54 98 65,503 65,601 Indirect auto finance 335 127 462 172,633 173,095 Consumer 238 39 277 12,102 12,379 Commercial loans: Commercial real estate 169 1,412 1,581 855,734 857,315 Construction and development 260 1,928 2,188 189,914 192,102 Commercial and industrial 15 69 84 148,739 148,823 Municipal leases — — — 109,172 109,172 Total loans $ 4,160 $ 5,653 $ 9,813 $ 2,516,803 $ 2,526,616 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: December 31, 2018 June 30, 2018 Nonaccruing 90 Days + & still accruing Nonaccruing 90 Days + & still accruing Retail consumer loans: One-to-four family $ 4,151 $ — $ 4,308 $ — HELOCs - originated 590 — 656 — HELOCs - purchased 185 — 187 — Construction and land/lots 98 — 165 — Indirect auto finance 243 — 255 — Consumer 515 — 321 — Commercial loans: Commercial real estate 2,104 — 2,863 — Construction and development 1,696 — 2,045 — Commercial and industrial 90 — 114 — Municipal leases — — — — Total loans $ 9,672 $ — $ 10,914 $ — PCI loans totaling $2,071 at December 31, 2018 and $3,353 at June 30, 2018 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 had no commitments to lend additional funds on these TDR loans at December 31, 2018 . 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: December 31, 2018 June 30, 2018 Performing TDRs included in impaired loans $ 19,276 $ 21,251 An analysis of the allowance for loan losses by segment for the periods shown is as follows: Three Months Ended December 31, 2018 Three Months Ended December 31, 2017 PCI Retail Consumer Commercial Total PCI Retail Consumer Commercial Total Balance at beginning of period $ 295 $ 7,252 $ 13,385 $ 20,932 $ 1,197 $ 8,310 $ 12,490 $ 21,997 Provision for (recovery of) loan losses (96 ) (341 ) 437 — (286 ) 162 124 — Charge-offs — (177 ) (78 ) (255 ) (345 ) (378 ) (349 ) (1,072 ) Recoveries — 502 240 742 — 97 68 165 Balance at end of period $ 199 $ 7,236 $ 13,984 $ 21,419 $ 566 $ 8,191 $ 12,333 $ 21,090 Six Months Ended December 31, 2018 Six Months Ended December 31, 2017 PCI Retail Consumer Commercial Total PCI Retail Consumer Commercial Total Balance at beginning of period $ 483 $ 7,527 $ 13,050 $ 21,060 $ 727 $ 8,585 $ 11,839 $ 21,151 Provision for (recovery of) loan losses (284 ) (406 ) 690 — 184 (250 ) 66 — Charge-offs — (592 ) (81 ) (673 ) (345 ) (528 ) (363 ) (1,236 ) Recoveries — 707 325 1,032 — 384 791 1,175 Balance at end of period $ 199 $ 7,236 $ 13,984 $ 21,419 $ 566 $ 8,191 $ 12,333 $ 21,090 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 December 31, 2018 Retail consumer loans: One-to-four family $ 61 $ 104 $ 2,926 $ 3,091 $ 6,290 $ 6,126 $ 648,958 $ 661,374 HELOCs - originated — 6 1,129 1,135 225 6 135,199 135,430 HELOCs - purchased — — 655 655 — — 138,571 138,571 Construction and land/lots — — 1,178 1,178 391 333 73,783 74,507 Indirect auto finance — — 1,073 1,073 — 1 170,515 170,516 Consumer — 8 157 165 — 8 13,512 13,520 Commercial loans: Commercial real estate 118 12 8,157 8,287 7,976 2,860 893,521 904,357 Construction and development 4 6 3,107 3,117 1,371 1,529 195,838 198,738 Commercial and industrial 16 2 2,254 2,272 1,794 2 222,786 224,582 Municipal leases — — 446 446 — — 111,135 111,135 Total $ 199 $ 138 $ 21,082 $ 21,419 $ 18,047 $ 10,865 $ 2,603,818 $ 2,632,730 June 30, 2018 Retail consumer loans: One-to-four family $ 98 $ 125 $ 3,137 $ 3,360 $ 6,817 $ 7,104 $ 650,368 $ 664,289 HELOCs - originated — 6 1,117 1,123 224 452 136,888 137,564 HELOCs - purchased — — 795 795 — — 166,276 166,276 Construction and land/lots — 19 1,134 1,153 444 583 64,574 65,601 Indirect auto finance — — 1,126 1,126 — — 173,095 173,095 Consumer — 11 57 68 — 11 12,368 12,379 Commercial loans: Commercial real estate 138 28 8,029 8,195 9,239 3,511 844,565 857,315 Construction and development 229 8 3,109 3,346 2,227 2,223 187,652 192,102 Commercial and industrial 18 — 1,458 1,476 1,953 — 146,870 148,823 Municipal leases — — 418 418 — — 109,172 109,172 Total $ 483 $ 197 $ 20,380 $ 21,060 $ 20,904 $ 13,884 $ 2,491,828 $ 2,526,616 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 is 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, excluding PCI loans, 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 December 31, 2018 Retail consumer loans: One-to-four family $ 20,221 $ 14,855 $ 2,472 $ 17,327 $ 565 HELOCs - originated 1,614 845 120 965 9 HELOCs - purchased 185 — 185 185 — Construction and land/lots 2,200 976 432 1,408 27 Indirect auto finance 407 173 100 273 3 Consumer 2,185 441 1,241 1,682 57 Commercial loans: Commercial real estate 4,418 1,375 2,741 4,116 22 Construction and development 2,869 788 908 1,696 8 Commercial and industrial 3,351 187 1 188 3 Municipal leases — — — — — Total impaired loans $ 37,450 $ 19,640 $ 8,200 $ 27,840 $ 694 June 30, 2018 Retail consumer loans: One-to-four family $ 23,295 $ 16,035 $ 4,140 $ 20,175 $ 554 HELOCs - originated 2,544 1,017 737 1,754 9 HELOCs - purchased 187 — 187 187 — Construction and land/lots 2,348 1,098 446 1,544 53 Indirect auto finance 395 122 133 255 1 Consumer 501 12 46 58 11 Commercial loans: Commercial real estate 5,343 2,862 2,246 5,108 42 Construction and development 3,166 828 1,217 2,045 14 Commercial and industrial 4,898 235 — 235 3 Municipal leases — — — — — Total impaired loans $ 42,677 $ 22,209 $ 9,152 $ 31,361 $ 687 The table above includes $16,975 and $19,926 , of impaired loans that were not individually evaluated at December 31, 2018 and June 30, 2018 , respectively, because these loans did not meet the Company's threshold for individual impairment evaluation. The recorded allowance above includes $556 and $490 related to these loans that were not individually evaluated at December 31, 2018 and June 30, 2018 , respectively. The Company's average recorded investment in impaired loans and interest income recognized on impaired loans for the three and six months ended December 31, 2018 and 2017 follows: Three Months Ended December 31, 2018 December 31, 2017 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized Retail consumer loans: One-to-four family $ 17,856 $ 175 $ 24,519 $ 287 HELOCs - originated 924 13 2,750 31 HELOC - purchased 186 3 191 3 Construction and land/lots 1,525 21 1,588 27 Indirect auto finance 335 2 232 3 Consumer 1,618 16 33 4 Commercial loans: Commercial real estate 4,257 34 7,184 77 Construction and development 1,766 15 2,973 31 Commercial and industrial 196 8 1,723 23 Municipal leases — — 102 6 Total loans $ 28,663 $ 287 $ 41,295 $ 492 Six Months Ended December 31, 2018 December 31, 2017 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized Retail consumer loans: One-to-four family $ 18,568 $ 467 $ 24,721 $ 585 HELOCs - originated 1,121 35 2,767 61 HELOCs - purchased 186 7 191 7 Construction and land/lots 1,559 55 1,651 56 Indirect auto finance 331 6 155 9 Consumer 1,212 45 36 8 Commercial loans: Commercial real estate 4,506 121 7,425 152 Construction and development 1,853 31 2,862 52 Commercial and industrial 208 25 1,841 42 Municipal leases — — 201 6 Total loans $ 29,544 $ 792 $ 41,850 $ 978 A summary of changes in the accretable yield for PCI loans for the three and six months ended December 31, 2018 and 2017 follows: Three Months Ended December 31, 2018 December 31, 2017 Accretable yield, beginning of period $ 5,452 $ 6,698 Reclass from nonaccretable yield (1) 414 77 Other changes, net (2) 198 80 Interest income (832 ) (634 ) Accretable yield, end of period $ 5,232 $ 6,221 Six Months Ended December 31, 2018 December 31, 2017 Accretable yield, beginning of period $ 5,734 $ 7,080 Reclass from nonaccretable yield (1) 424 278 Other changes, net (2) 335 107 Interest income (1,261 ) (1,244 ) Accretable yield, end of period $ 5,232 $ 6,221 ______________________________________ (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 and six months ended December 31, 2018 and 2017 , the following table presents a breakdown of the types of concessions made on TDRs by loan class: Three Months Ended December 31, 2018 Three Months Ended December 31, 2017 Number of Loans Pre Modification Outstanding Recorded Investment Post Modification Outstanding Recorded Investment Number of Loans Pre Modification Outstanding Recorded Investment Post Modification Outstanding Recorded Investment Below market interest rate: Retail consumer: One-to-four family 1 $ 85 $ 85 3 $ 398 $ 395 Home equity lines of credit — — — 1 64 59 Construction and land/lots — — — 1 36 36 Total 1 $ 85 $ 85 5 $ 498 $ 490 Other TDRs: Retail consumer: One-to-four family 5 $ 354 $ 353 6 $ 177 $ 176 Indirect auto finance — — — 1 19 6 Consumer 1 $ 85 $ 85 — $ — $ — Total 6 $ 439 $ 438 7 $ 196 $ 182 Total 7 $ 524 $ 523 12 $ 694 $ 672 Six Months Ended December 31, 2018 Six Months Ended December 31, 2017 Number of Loans Pre Modification Outstanding Recorded Investment Post Modification Outstanding Recorded Investment Number of Loans Pre Modification Outstanding Recorded Investment Post Modification Outstanding Recorded Investment Below market interest rate: Retail consumer: One-to-four family 1 $ 85 $ 85 3 $ 398 $ 395 HELOCs - originated — — — 1 64 59 Construction and land/lots — — — 1 36 36 Total 1 $ 85 $ 85 5 $ 498 $ 490 Other TDRs: Retail consumer: One-to-four family 9 $ 598 $ 593 15 $ 1,493 $ 1,481 Indirect auto finance 1 33 30 1 19 6 Consumer 2 87 87 — — — Total 12 $ 718 $ 710 16 $ 1,512 $ 1,487 Total 13 $ 803 $ 795 21 $ 2,010 $ 1,977 The following table presents loans that were modified as TDRs within the previous 12 months and for which there was a payment default during the three and six months ended December 31, 2018 and 2017 : Three Months Ended December 31, 2018 Three Months Ended December 31, 2017 Number of Loans Recorded Investment Number of Loans Recorded Investment Below market interest rate: Retail consumer: One-to-four family — — 1 $ 37 Total — $ — 1 $ 37 Other TDRs: Retail consumer: One-to-four family 2 $ 165 3 $ 493 Indirect auto finance — — 1 6 Consumer 1 2 — — Total 3 $ 167 4 $ 499 Total 3 $ 167 5 $ 536 Six Months Ended December 31, 2018 Six Months Ended December 31, 2017 Number of Loans Recorded Investment Number of Loans Recorded Investment Below market interest rate: Retail consumer: One-to-four family — $ — 1 $ 37 Total — $ — 1 $ 37 Other TDRs: Retail consumer: One-to-four family 2 $ 165 3 $ 493 Indirect auto finance — — 1 6 Consumer 1 2 — — Total 3 $ 167 4 $ 499 Total 3 $ 167 5 $ 536 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 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. |
Real Estate Owned
Real Estate Owned | 6 Months Ended |
Dec. 31, 2018 | |
Real Estate Owned [Abstract] | |
Real Estate Owned | Real Estate Owned The activity within REO for the periods shown is as follows: Three Months Ended December 31, Six Months Ended December 31, 2018 2017 2018 2017 Balance at beginning of period $ 3,286 $ 5,941 $ 3,684 $ 6,318 Transfers from loans 22 339 96 591 Sales, net of gain or loss (230 ) (1,111 ) (574 ) (1,758 ) Writedowns (123 ) (351 ) (251 ) (351 ) Capital improvements — — — 18 Balance at end of period $ 2,955 $ 4,818 $ 2,955 $ 4,818 At December 31, 2018 and June 30, 2018, the Bank had $ 557 and $ 998 respectively, of foreclosed residential real estate property in REO. The recorded investment in consumer mortgage loans collateralized by residential real estate in the process of foreclosure totaled $ 980 and $ 395 at December 31, 2018 and June 30, 2018, respectively. |
Income Taxes
Income Taxes | 6 Months Ended |
Dec. 31, 2018 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Income Taxes Income tax expense consists of: Three Months Ended December 31, Six Months Ended December 31, 2018 2017 2018 2017 Current: Federal $ (167 ) $ 92 $ 210 $ 230 State 304 (3 ) 429 8 Total current expense 137 89 639 238 Deferred: Federal 2,129 1,611 3,700 3,681 State 21 115 160 406 Adjustment due to the Tax Cuts and Jobs Act — 17,693 — 17,693 Total deferred expense 2,150 19,419 3,860 21,780 Total income tax expense $ 2,287 $ 19,508 $ 4,499 $ 22,018 The provision for income taxes differs from the amount of income tax determined by applying the applicable U.S. statutory federal income tax rate to income before income taxes as a result of the following differences for the periods indicated: Three Months Ended December 31, Six Months Ended December 31, 2018 2017 2018 2017 $ Rate $ Rate $ Rate $ Rate Tax at federal income tax rate $ 2,169 21 % $ 2,432 28 % $ 4,269 21 % $ 4,653 28 % Increase (decrease) resulting from: Tax exempt income (210 ) (2 )% (264 ) (3 )% (437 ) (2 )% (541 ) (3 )% Nondeductible merger expenses — — % 1 — % — — % 1 — % Change in valuation allowance for deferred tax assets, allocated to income tax expense — — % (49 ) (1 )% — — % (184 ) (1 )% State tax, net of federal benefit 256 2 % 81 1 % 465 2 % 204 1 % Change in deferred tax assets due to North Carolina corporate tax rate decrease — — % — — % — — % 133 1 % Change in deferred tax assets due to the Tax Cuts and Jobs Act — — % 17,693 200 % — — % 17,693 105 % Adjustment for prior quarter expense due to accrual at higher rate — — % (418 ) (5 )% — — % — — % Other 72 1 % 32 — % 202 1 % 59 — % Total $ 2,287 22 % $ 19,508 220 % $ 4,499 22 % $ 22,018 131 % The decrease in the federal corporate income tax rate was the result of enactment of the Tax Act, which lowered the Company's statutory federal corporate income tax rate to 21% effective July 1, 2018 from a blended federal corporate income tax rate of 27.5% in the previous fiscal year. Our June 30 fiscal year end required the use of a blended rate as prescribed by the Internal Revenue Code. The blended federal rate of 27.5% was retroactively effective July 1, 2017 and was used for the entire fiscal year ending June 30, 2018. As a result of this blended rate, income tax expense for the quarter ended December 31, 2017 included approximately $418,000 in tax benefit from adjusting the federal income tax rate to 27.5% from 34% for the first quarter of the fiscal year. In addition, for the quarter ended December 31, 2017, following a revaluation of net deferred tax assets due to the Tax Act, the Company recorded additional income tax expense of $17.7 million . The sources and tax effects of temporary differences that give rise to significant portions of the deferred tax assets (liabilities) at December 31, 2018 and June 30, 2018 are presented below: December 31, 2018 June 30, 2018 Deferred tax assets: Alternative minimum tax credit $ 4,920 $ 4,920 Allowance for loan losses 4,720 4,637 Deferred compensation and post-retirement benefits 9,186 9,400 Accrued vacation and sick leave 18 18 Impairments on real estate owned 498 495 Other than temporary impairment on investments 2,253 2,254 Net operating loss carryforward 5,538 8,635 Discount from business combination 2,500 2,605 Unrealized loss on securities held for sale 306 477 Stock compensation plans 2,014 2,271 Other 1,195 1,562 Total gross deferred tax assets 33,148 37,274 Less valuation allowance (325 ) (325 ) Deferred tax assets 32,823 36,949 Deferred tax (liabilities): Depreciable basis of fixed assets (532 ) (566 ) Deferred loan fees (486 ) (453 ) FHLB stock, book basis in excess of tax (89 ) (89 ) Other (3,183 ) (3,276 ) Total gross deferred tax liabilities (4,290 ) (4,384 ) Net deferred tax assets $ 28,533 $ 32,565 We use the asset and liability method of accounting for income taxes. Under this method, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Deferred tax assets are reduced by a valuation allowance when it is more likely than not that some portion of the deferred tax asset will not be realized. We exercise significant judgment in evaluating the amount and timing of recognition of the resulting tax liabilities and assets. These judgments require us to make projections of future taxable income. The judgments and estimates we make in determining our deferred tax assets, which are inherently subjective, are reviewed on a continual basis as regulatory and business factors change. Any reduction in estimated future taxable income may require us to record a valuation allowance against our deferred tax assets. The Company had federal net operating loss ("NOL") carry forwards of $26,805 and $40,780 as of December 31, 2018 and June 30, 2018 , respectively, with a recorded tax benefit of $5,538 and $8,635 included in deferred tax assets. The majority of these NOLs will expire for federal tax purposes from 2024 through 2036. The valuation allowance of $ 325 at December 31, 2018 and June 30, 2018 relates to the potential future sequestration of the Company's alternative minimum tax credit included in deferred tax assets. Retained earnings at December 31, 2018 and June 30, 2018 include $19,570 representing pre-1988 tax bad debt reserve base year amounts for which no deferred tax liability has been provided since these reserves are not expected to reverse and may never reverse. Circumstances that would require an accrual of a portion or all of this unrecorded tax liability are a failure to meet the definition of a bank, dividend payments in excess of current year or accumulated earnings and profits, or other distributions in dissolution or liquidation of the Bank. The Company is no longer subject to examination for federal and state purposes for tax years prior to 2014. |
Net Income per Share
Net Income per Share | 6 Months Ended |
Dec. 31, 2018 | |
Earnings Per Share [Abstract] | |
Net Income per Share | Net Income per Share The following is a reconciliation of the numerator and denominator of basic and diluted net income per share of common stock: Three Months Ended December 31, Six Months Ended December 31, 2018 2017 2018 2017 Numerator: Net income (loss) $ 8,041 $ (10,666 ) $ 15,831 $ (5,099 ) Allocation of earnings to participating securities (57 ) — (112 ) — Numerator for basic EPS - Net income available (loss attributable) to common stockholders $ 7,984 $ (10,666 ) $ 15,719 $ (5,099 ) Effect of dilutive securities: Dilutive effect to participating securities 2 — 4 — Numerator for diluted EPS $ 7,986 $ (10,666 ) $ 15,723 $ (5,099 ) Denominator: Weighted-average common shares outstanding - basic 17,797,553 17,975,883 17,961,465 17,971,439 Effect of dilutive shares 699,781 — 728,119 — Weighted-average common shares outstanding - diluted 18,497,334 17,975,883 18,689,584 17,971,439 Net income (loss) per share - basic $ 0.45 $ (0.59 ) $ 0.88 $ (0.28 ) Net income (loss) per share - diluted $ 0.43 $ (0.59 ) $ 0.84 $ (0.28 ) Potential dilutive shares are excluded from the computation of earnings per share if their effect is anti-dilutive. There were 420,300 stock options that were anti-dilutive for the three and six months ended December 31, 2018. |
Equity Incentive Plan
Equity Incentive Plan | 6 Months Ended |
Dec. 31, 2018 | |
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 for current directors, officers, and employees. The fair value of equity-based awards is updated quarterly for certain nonemployee emeritus directors and advisory directors. 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. The table below presents share based compensation expense and the estimated related tax benefit for stock options and restricted stock for the three and six months ended December 31, 2018 and 2017: Three Months Ended December 31, Six Months Ended December 31, 2018 2017 2018 2017 Share based compensation expense $ 372 $ 841 $ 756 $ 2,014 Tax benefit $ 78 $ 235 $ 192 $ 564 The table below presents stock option activity for the six months ended December 31, 2018 and 2017 : Options Weighted- Remaining Aggregate Options outstanding at June 30, 2017 1,470,043 $ 15.22 5.8 $ 13,533 Exercised 3,900 14.37 — — Forfeited 24,700 14.43 — — Expired 43,273 23.82 — — Options outstanding at December 31, 2017 1,398,170 $ 14.97 5.4 $ 15,077 Exercisable at December 31, 2017 986,670 $ 14.43 5.2 $ 11,169 Non-vested at December 31, 2017 411,500 $ 16.25 6.0 $ 3,908 Options outstanding at June 30, 2018 1,718,270 $ 17.29 5.9 $ 18,664 Exercised 42,200 14.42 — — Forfeited 4,700 17.11 — — Options outstanding at December 31, 2018 1,671,370 $ 17.37 5.4 $ 14,732 Exercisable at December 31, 2018 1,185,270 $ 14.51 4.2 $ 13,832 Non-vested at December 31, 2018 486,100 $ 24.33 8.5 $ 900 At December 31, 2018 , the Company had $2,385 of unrecognized compensation expense related to 486,100 stock options originally 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 1.8 years at December 31, 2018 . At December 31, 2017 , the Company had $835 of unrecognized compensation expense related to 411,500 stock options originally 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 0.7 years at December 31, 2017 . The table below presents restricted stock award activity for the six months ended December 31, 2018 and 2017 : Restricted stock awards Weighted- average grant date fair value Aggregate Intrinsic Value Non-vested at June 30, 2017 185,630 $ 17.46 $ 4,780 Granted 2,000 23.05 — Vested 400 19.02 — Forfeited 6,600 14.37 — Non-vested at December 31, 2017 180,630 $ 17.57 $ 4,651 Non-vested at June 30, 2018 133,410 $ 22.85 $ 3,755 Vested 2,800 16.27 — Forfeited 2,700 16.13 — Non-vested at December 31, 2018 127,910 $ 23.14 $ 3,349 At December 31, 2018 , unrecognized compensation expense was $2,129 related to 127,910 shares of restricted stock originally 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 1.6 years at December 31, 2018 . At December 31, 2017 , unrecognized compensation expense was $1,671 related to 180,630 shares of restricted stock originally 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 1.1 years at December 31, 2017 . |
Commitments and Contingencies
Commitments and Contingencies | 6 Months Ended |
Dec. 31, 2018 | |
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 December 31, 2018 and June 30, 2018 , respectively, loan commitments (excluding $197,728 and $209,726 of undisbursed portions of construction loans) totaled $60,248 and $49,949 of which $17,989 and $19,812 were variable rate commitments and $42,258 and $30,137 were fixed rate commitments. The fixed rate loans had interest rates ranging from 2.39% to 7.55% at December 31, 2018 and 2.10% to 6.15% at June 30, 2018 , and terms ranging from three to 30 years. Pre-approved but unused lines of credit (principally second mortgage home equity loans and overdraft protection loans) totaled $488,071 and $491,649 at December 31, 2018 and June 30, 2018 , 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 two types of commitments related to loans held for sale: rate lock commitments and forward loan commitments. Rate lock commitments are commitments to extend credit to a customer that has an interest rate lock and are considered derivative instruments. The rate lock commitments do not qualify for hedge accounting. In order to mitigate the risk from interest rate fluctuations, we enter into forward loan sale commitments on a “best efforts” basis, which do not meet the definition of a derivative instrument. The fair value of these commitments was not material at December 31, 2018 or June 30, 2018 . 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. Restrictions on Cash – The Bank is required by regulation to maintain a varying cash reserve balance with the FRB. The daily average calculated cash reserve required as of December 31, 2018 and June 30, 2018 was $1,786 , and $2,304 , respectively, which was satisfied by vault cash and balances held at the FRB. 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 December 31, 2018 and June 30, 2018 were $8,826 and $8,227 , respectively. There was no liability recorded for these letters of credit at December 31, 2018 or June 30, 2018 , respectively. Litigation – From time to time, t he Company is involved in litigation matters in the ordinary course of business. These proceedings and the associated legal claims are often contested and the outcome of individual matters is not always predictable. These claims and counter claims typically arise during the course of collection efforts on problem loans or with respect to actions to enforce liens on properties in which the Company holds a security interest. The Company is not a party to any pending legal proceedings that management believes would have a material adverse effect on the Company’s financial condition or results of operations . |
Fair Value of Financial Instrum
Fair Value of Financial Instruments | 6 Months Ended |
Dec. 31, 2018 | |
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. The fair value of financial instruments presented in this note, with the exception of loans receivable, are based on the same methodology as presented in Note 20 of the Notes to Consolidated Financial Statements contained in the Company’s 2018 10-K. The Company has adopted ASU 2016-01, and therefore is measuring the fair value of loans receivable under the exit price notion rather than the previous method of entry price notion. Under the previous method, the fair value estimate of loans receivable was based on discounted cash flow. At September 30, 2018, the exit price notion used to estimate the fair value of loans receivable was based on similar techniques, with the addition of liquidity premiums. The fair value of nonperforming loans is based on the underlying value of the collateral for periods prior to and after adoption of ASU 2016-01. 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 on both a recurring and non-recurring basis. The Company does not have any liabilities recorded at fair value on both a recurring and non-recurring basis. 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 2 securities include equity securities, mortgage-backed securities and debentures issued by government sponsored enterprises, municipal bonds, and corporate debt securities. The Company has no Level 3 securities. Impaired 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. The fair value of impaired loans is estimated in one of two ways, which include collateral value and discounted cash flows. Loans are considered collateral dependent if repayment is expected solely from 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. For loans that are not collateral dependent, estimated fair value is based on the present value of expected future cash flows using the interest rate implicit in the original agreement. Impaired loans where a charge-off has occurred or an allowance is established during the period being reported require classification in the fair value hierarchy. The Company records such impaired loans 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 on commitments on hand from investors or, if commitments have not yet been obtained, what investors are currently offering for loans with similar characteristics. 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. Small Business Investment Company SBICs are carried at the lower of cost or cost less a valuation allowance, which is based a financial review of the investment. The Company considers SBICs that have been adjusted through 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: December 31, 2018 Description Total Level 1 Level 2 Level 3 U.S Government Agencies $ 37,863 $ — $ 37,863 $ — Residential Mortgage-backed Securities of U.S. Government Agencies and Government Sponsored Enterprises 76,926 — 76,926 — Municipal Bonds 29,080 — 29,080 — Corporate Bonds 5,883 — 5,883 — Total $ 149,752 $ — $ 149,752 $ — June 30, 2018 Description Total Level 1 Level 2 Level 3 U.S Government Agencies $ 47,542 $ — $ 47,542 $ — Residential Mortgage-backed Securities of U.S. Government Agencies and Government Sponsored Enterprises 70,599 — 70,599 — Municipal Bonds 30,766 — 30,766 — Corporate Bonds 6,023 — 6,023 — Equity Securities 63 — 63 — Total $ 154,993 $ — $ 154,993 $ — There were no transfers between levels during the three months ended December 31, 2018 . The following table presents financial assets measured at fair value on a non-recurring basis at the dates indicated: December 31, 2018 Description Total Level 1 Level 2 Level 3 Impaired loans $ 4,155 $ — $ — $ 4,155 REO 1,086 — — 1,086 Total $ 5,241 $ — $ — $ 5,241 June 30, 2018 Description Total Level 1 Level 2 Level 3 Impaired loans $ 8,423 $ — $ — $ 8,423 REO 2,104 — — 2,104 Total $ 10,527 $ — $ — $ 10,527 Quantitative information about Level 3 fair value measurements during the period ended December 31, 2018 is shown in the table below: Fair Value at December 31, 2018 Valuation Techniques Unobservable Input Range Weighted Average Nonrecurring measurements: Impaired loans, net $ 4,155 Discounted appraisals and discounted cash flows Collateral discounts 6% - 25% 1% - 3% 2% REO $ 1,086 Discounted appraisals Collateral discounts 8% - 15% 10% The stated carrying value and estimated fair value amounts of financial instruments as of December 31, 2018 and June 30, 2018 , are summarized below: December 31, 2018 Carrying Value Fair Value Level 1 Level 2 Level 3 Assets: Cash and interest-bearing deposits $ 71,306 $ 71,306 $ 71,306 $ — $ — Commercial paper 239,286 239,286 239,286 — — Certificates of deposit in other banks 51,936 51,936 — 51,936 — Securities available for sale 149,752 149,752 — 149,752 $ — Loans, net 2,610,812 2,524,963 — — 2,524,963 Loans held for sale 13,095 13,604 — — 13,604 FHLB stock 32,159 32,159 32,159 — — FRB stock 7,315 7,315 7,315 — — SBIC 5,384 5,384 — — 5,384 Accrued interest receivable 10,372 10,372 — 1,172 9,200 Liabilities: Noninterest-bearing and NOW deposits 774,111 774,111 — 774,111 — Money market accounts 703,445 703,445 — 703,445 — Savings accounts 192,954 192,954 — 192,954 — Certificates of deposit 587,559 582,656 — 582,656 — Borrowings 688,000 686,307 — 686,307 — Accrued interest payable 1,639 1,639 — 1,639 — June 30, 2018 Carrying Value Fair Value Level 1 Level 2 Level 3 Assets: Cash and interest-bearing deposits $ 70,746 $ 70,746 $ 70,746 $ — $ — Commercial paper 229,070 229,070 229,070 — — Certificates of deposit in other banks 66,937 66,937 — 66,937 — Securities available for sale 154,993 154,993 — 154,993 — Loans, net 2,504,792 2,414,647 — — 2,414,647 Loans held for sale 5,873 5,990 — — 5,990 FHLB stock 29,907 29,907 29,907 — — FRB stock 7,307 7,307 7,307 — — SBIC 4,717 4,717 — — 4,717 Accrued interest receivable 9,344 9,344 297 883 8,164 Liabilities: Noninterest-bearing and NOW deposits 789,186 789,186 — 789,186 — Money market accounts 677,665 677,665 — 677,665 — Savings accounts 213,250 213,250 — 213,250 — Certificates of deposit 516,152 509,924 — 509,924 — Borrowings 635,000 635,187 — 635,187 — Accrued interest payable 805 805 — 805 — The Company had off-balance sheet financial commitments, which included approximately $746,047 and $751,324 of commitments to originate loans, undisbursed portions of interim construction loans, and unused lines of credit at December 31, 2018 and June 30, 2018 , respectively (see Note 10). 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 – 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 mortgage 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. The fair value of SBA loans held for sale is based on what investors are currently offering for loans with similar characteristics. 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. For the December 31, 2018 fair value, a liquidity premium assumption is used as an estimate for the additional return required by an investor of assets that are potentially considered illiquid. 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. SBIC – No ready market exists for these investments and they have no quoted market value. SBIC are valued at cost, less any impairment, plus or minus changes resulting from observable price changes in orderly transactions of identical or similar investments. 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. 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. Borrowings – The fair value of advances from the FHLB is estimated based on current rates for borrowings with similar terms. Accrued interest receivable and payable – The stated amounts of accrued interest receivable and payable approximate the fair value. Limitations – Fair value estimates are made at a specific point in time, based on relevant market information and information about the financial instrument. These estimates do not reflect any premium or discount that could result from offering for sale at one time the Company's entire holdings of a particular financial instrument. Because no market exists for a significant portion of the Company's financial instruments, fair value estimates are based on judgments regarding future expected loss experience, current economic conditions, risk characteristics of various financial instruments, and other factors. These estimates are subjective in nature and involve uncertainties and matters of significant judgment and therefore cannot be determined with precision. Changes in assumptions could significantly affect the estimates. Fair value estimates are based on existing on-and-off balance sheet financial instruments without attempting to estimate the value of anticipated future business and the value of assets and liabilities that are not considered financial instruments. For example, a significant asset not considered a financial asset is premises and equipment. In addition, tax ramifications related to the realization of the unrealized gains and losses can have a significant effect on fair value estimates and have not been considered in any of the estimates. |
Revenue
Revenue | 6 Months Ended |
Dec. 31, 2018 | |
Revenue from Contract with Customer [Abstract] | |
Revenue | Revenue On July 1, 2018, the Company adopted ASU 2014-09, “Revenue from Contracts with Customers (Topic 606)” and all subsequent ASUs that modified ASC 606. The adoption of the new standard did not have a material impact on the measurement or recognition of revenue. Results for reporting periods beginning after July 1, 2018 are presented under Topic 606, while prior period amounts reflect an offset of $ 198 and $ 393 of interchange costs against interchange income for the three and six months ended December 31, 2018. ASC 606 does not apply to revenue associated with financial instruments, including revenue from loans and securities. In addition, certain noninterest income streams such as fees associated with mortgage servicing rights, financial guarantees, and certain credit card fees are also not in scope of the new guidance. ASC 606 is applicable to noninterest revenue streams such as deposit related fees, interchange fees, merchant income, and various other service fees. However, the recognition of these revenue streams did not change significantly upon adoption of ASC 606. Substantially all of the Company’s revenue is generated from contracts with customers. The Company has made no significant judgments in applying the revenue guidance prescribed in ASC 606 that affect the determination of the amount and timing of revenue streams with customers. The table below presents the Company's sources of noninterest income, segregated by in-scope and out-of-scope revenue streams of ASC 606 at the dates indicated: Three Months Ended December 31, Six Months Ended December 31, 2018 2017 2018 2017 In-scope of ASC 606: Service charges on deposit accounts $ 1,042 $ 942 $ 2,026 $ 1,831 Fees, interchange, and other service charges 1,697 1,144 3,300 2,213 Other 154 267 366 452 Noninterest income (in-scope of ASC 606) 2,893 2,353 5,692 4,496 Noninterest income (out-of-scope of ASC 606) 2,192 2,106 5,006 4,225 Total noninterest income $ 5,085 $ 4,459 $ 10,698 $ 8,721 The following is a description of revenue streams accounted for under ASC 606: Service charges on deposit accounts Service charges on deposit accounts consist of account analysis fees (i.e., net fees earned on analyzed business and public checking accounts), monthly service fees, nonsufficient fund fees, check orders, and other deposit account related fees. The Company’s performance obligation for account analysis fees and monthly service fees is generally satisfied, and the related revenue recognized, over the period in which the service is provided. Nonsufficient fund fees, check orders and other deposit account related fees are largely transactional based, and therefore, the Company’s performance obligation is satisfied and related revenue recognized, at a point in time. Payment for service charges on deposit accounts is primarily received immediately or in the following month through a direct charge to customers’ accounts. Fees, interchange, and other service charges Fees, interchange, and other service charges are primarily comprised of debit and credit card income, ATM fees, merchant services income, and other service charges. Debit and credit card income is primarily comprised of interchange fees earned whenever the Company’s debit and credit cards are processed through card payment networks such as Visa. ATM fees are primarily generated when a Company cardholder uses a non-Company ATM or a non-Company cardholder uses a Company ATM. Merchant services income mainly represents fees charged to merchants to process their debit and credit card transactions, in addition to account management fees. Other service charges include revenue from processing wire transfers, cashier’s checks, and other services. The Company’s performance obligation for fees, interchange, and other service charges are largely satisfied, and related revenue recognized, when the services are rendered or upon completion. Payment is typically received immediately or in the following month. Other Other noninterest income consists of safety deposit box rental fees and other miscellaneous revenue streams. Safe deposit box rental fees are charged to the customer on an annual basis and recognized upon receipt of payment. The Company determined that since rentals and renewals occur fairly consistently over time, revenue is recognized on a basis consistent with the duration of the performance obligation. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 6 Months Ended |
Dec. 31, 2018 | |
Accounting Policies [Abstract] | |
Basis of Accounting | 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, 2018 (" 2018 Form 10-K") filed with the SEC on September 13, 2018 . The results of operations for the three and six months ended December 31, 2018 are not necessarily indicative of results that may be expected for the entire fiscal year ending June 30, 2019 . |
Use of Estimates | 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 2018 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 Pronouncements | In August 2015, the Financial Accounting Standards Board ("FASB") issued ASU No. 2015-14, “Revenue from Contracts with Customers (Topic 606)”, which defers the effective date of Accounting Standard Update ("ASU") No. 2014-09 one year. ASU No. 2014-09 created Topic 606 and supersedes Topic 605, Revenue Recognition. The core principle of Topic 606 is that an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In general, the new guidance requires companies to use more judgment and make more estimates than under current guidance, including identifying performance obligations in the contract, estimating the amount of variable consideration to include in the transaction price and allocating the transaction price to each separate performance obligation. In May 2016, the FASB issued ASU No. 2016-12, "Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients," which provides clarifying guidance in certain narrow areas and adds some practical expedients, but does not change the core revenue recognition principle in Topic 606. For financial reporting purposes, the standard allows for either full retrospective adoption, meaning the standard is applied to all of the periods presented, or modified retrospective adoption, meaning the standard is applied only to the most current period presented in the financial statements with the cumulative effect of initially applying the standard recognized at the date of initial application. A significant amount of the Company’s revenues are derived from net interest income on financial assets and liabilities, which are excluded from the scope of the amended guidance. The Company adopted this ASU on July 1, 2018. The adoption did not have a material effect on the Company's Consolidated Financial Statements. However, additional disclosures required by this ASU have been included in “Note 12 - Revenue” to the Company’s consolidated financial statements. In January 2016, the FASB issued ASU 2016-01, "Financial Instruments (Subtopic 825-10) Recognition and Measurement of Financial Assets and Financial Liabilities." The ASU amends the guidance in GAAP on the classification and measurement of financial instruments. The ASU includes the following changes: i) equity investments (except those accounted for under the equity method of accounting, or those that result in consolidation of the investee) to be measured at fair value with changes in fair value recognized in net income; (ii) requires the use of exit price notion when measuring the fair value of financial instruments for disclosure purposes; (iii) require separate presentation of financial assets and financial liabilities by measurement category and form of financial asset (i.e. securities or loans and receivables) on the balance sheet or the accompanying notes to the financial statements; (iv) allows an equity investment that does not have readily determinable fair values, to be measured at cost minus impairment (if any), plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the same issuer; (v) eliminates the requirement to disclose the method(s) and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost on the balance sheet, and requires a reporting organization to present separately in other comprehensive income the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk (also referred to as “own credit”) when the organization has elected to measure the liability at fair value in accordance with the fair value option for financial instruments; (vi) requires separate presentation of financial assets and financial liabilities by measurement category and form of financial asset (i.e. securities or loans and receivables) on the balance sheet or in the accompanying notes to the financial statements; and (vii) clarifies that a valuation allowance on a deferred tax asset related to available-for-sale securities should be evaluated in combination with the organization’s other deferred tax assets. Exit price is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Company adopted this ASU on July 1, 2018. The adoption did not have a material effect on the Company's Consolidated Financial Statements. The disclosures to the Company’s consolidated financial statements have been updated appropriately using the exit price notion in “Note 11 - Fair Value of Financial Instruments.” In February 2016, the FASB issued ASU 2016-02, "Leases (Accounting Standards Codification ("ASC") 842)." The guidance in this ASU requires most leases to be recognized on the balance sheet as a right-of-use asset and a lease liability. It will be critical to identify leases embedded in a contract to avoid misstating the lessee’s balance sheet. For income statement purposes, the FASB retained a dual model, requiring leases to be classified as either operating or finance. Classification will be based on criteria that are largely similar to those applied in current lease accounting, but without explicit bright lines. The amendments in this ASU are effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2018. In July 2018, the FASB issued ASU 2018-10, "Codification Improvements to Topic 842, Leases" and ASU 2018-11 "Leases (Topic 842): Targeted Improvements." ASU 2018-10 made 16 narrow-scope amendments to ASC 842. The amendments in this ASU 2018-11 are intended to provide entities with relief from the costs of implementing certain aspects of the the new lease accounting standard. Specifically, an entity can elect not to recast the comparative periods presented when transitioning to ASC 842 and provides a lessor with the option to not separate lease and nonlease components when certain conditions are met. This ASU also provides a new transition method in addition to the existing transition method contained in ASU No. 2016-02 to allow entities to initially apply the new leases standard at the adoption date and recognize a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption. These amendments have the same effective date as ASU 2016-02. We are currently evaluating the impact of this guidance on our Consolidated Financial Statements and the timing of adoption. The Company will compile an inventory of all leased assets to determine the impact of ASU 2016-02 on its financial condition and results of operations. The effect of the adoption of these ASUs will depend on leases at time of adoption. Once adopted, we expect to report higher assets and liabilities on our Consolidated Balance Sheets as a result of including right-of-use assets and lease liabilities related to certain banking offices and certain equipment under noncancelable operating lease agreements, which currently are not reflected in our Consolidated Balance Sheets. We do not expect the guidance to have a material impact on the Consolidated Statements of Income or the Consolidated Statements of Changes in Stockholders' Equity. In June 2016, the FASB issued ASU No. 2016-13, "Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments." The ASU significantly changes the impairment model for most financial assets that are measured at amortized cost and certain other instruments from an incurred loss model to an expected loss model. This ASU is effective for interim and annual reporting periods beginning after December 15, 2019. Early adoption is permitted for all entities beginning after December 15, 2018, including interim periods within those fiscal years. The Company is evaluating our current expected loss methodology of our loan and investment portfolios to identify the necessary modifications in accordance with this standard and expects a change in the processes and procedures to calculate the allowance for loan losses, including changes in assumptions and estimates to consider expected credit losses over the life of the loan versus the current accounting practice that utilizes the incurred loss model. A valuation adjustment to our allowance for loan losses or investment portfolio that is identified in this process will be reflected as a one-time adjustment in equity rather than earnings. The Company is in the process of compiling historical data that will be used to calculate expected credit losses on its loan portfolio to ensure it is fully compliant with the ASU at the adoption date and is evaluating the potential impact adoption of this ASU will have on its consolidated financial statements. Once adopted, the Company expects its allowance for loan losses to increase, however, until its evaluation is complete the magnitude of the increase will be unknown. In August 2016, the FASB issued ASU No. 2016-15, "Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments." The ASU amends the guidance on the classification of certain cash receipts and payments in the statement of cash flows and is intended to reduce the diversity in practice. The Company adopted this ASU on July 1, 2018. The adoption did not have a material effect on the Company's Consolidated Financial Statements. In March 2017, FASB issued ASU 2017-08, "Receivables-Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities." The ASU requires entities to amortize the premium on certain purchased callable debt securities to the earliest call date, which more closely aligns the amortization period of premiums and discounts to expectations incorporated in the market prices. Entities will no longer recognize a loss in earnings upon the debtor's exercise of a call on a purchased debt security held at a premium. The ASU does not require any accounting change for debt securities held at a discount, therefore the discount will continue to be amortized as an adjustment of yield over the contractual life of the investment. This ASU is effective for interim and annual reporting periods, beginning after December 15, 2018. Early adoption is permitted for all entities. The adoption of ASU No. 2017-08 is not expected to have a material impact on the Company's Consolidated Financial Statements. In May 2017, the FASB issued ASU 2017-09, "Compensation-Stock Compensation (Topic 718): Scope of Modification Accounting." This ASU provides clarity on the guidance related to stock compensation when there have been changes to the terms or conditions of a share-based payment award to which an entity would be required to apply modification accounting under ASC 718. The ASU provides the three following criteria must be met in order to not account for the effect of the modification of terms or conditions: the fair value, the vesting conditions and the classification as an equity or liability instrument of the modified award is the same as the original award immediately before the original award is modified. The Company adopted this ASU on July 1, 2018. The adoption did not have a material effect on the Company's Consolidated Financial Statements. In August 2017, FASB issued ASU 2017-12, "Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities." This ASU improves the transparency and understandability of disclosures in the financial statements regarding the entities risk management activities and reduces the complexity of hedge accounting. The amendments in this ASU permit hedge accounting for hedging relationships involving nonfinancial risk and interest rate risk by removing certain limitations in cash flow and fair value hedging relationships. In addition, the ASU requires an entity to present the earnings effect of the hedging instrument in the same income statement line item in which the earnings effect of the hedged item is reported. The amendments in this ASU are effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2018 and early adoption is permitted. The adoption of ASU No. 2017-12 is not expected to have a material impact on the Company's Consolidated Financial Statements. In February 2018, FASB issued ASU 2018-02, "Income Statement-Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income." The ASU allows a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the revaluation of the Company’s net deferred tax assets (“DTA”) to the new corporate federal income tax rate of 21% as a result of the Tax Cuts and Jobs Act (‘Tax Act”). The Company elected to early adopt this ASU during the year ended June 30, 2018. The affected amount for the Company was immaterial and did not have an effect on the Company's Consolidated Financial Statements. In March 2018, FASB issued ASU No. 2018-05, "Income Taxes (Topic 740)." This ASU was issued to provide guidance on the income tax accounting implications of the Tax Act and allows for entities to report provisional amounts for specific income tax effects of the Act for which the accounting under Topic 740 was not yet complete, but a reasonable estimate could be determined. A measurement period of one-year is allowed to complete the accounting effects under Topic 740 and revise any previous estimates reported. Any provisional amounts or subsequent adjustments included in an entity’s financial statements during the measurement period should be included in income from continuing operations as an adjustment to tax expense in the reporting period the amounts are determined. The Company adopted this ASU with the provisional adjustments as reported in the Consolidated Financial Statements on Form 10-Q as of December 31, 2017. As of June 30, 2018, the Company did not incur any adjustments to the provisional recognition. In August 2018, the FASB issued ASU 2018-13, "Fair Value Measurement (Topic 820): Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement." The amendments in this ASU removes, modifies, and adds certain disclosure requirements related to fair value measurements in ASC 820. The amendments in this ASU are effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2019 and early adoption is permitted. The adoption of ASU No. 2018-13 is not expected to have a material impact on the Company's Consolidated Financial Statements. In November 2018, the FASB issued ASU 2018-19, "Codification Improvements to Topic 326, Financial Instruments—Credit Losses." This update clarifies that receivables arising from operating leases are not within the scope of Subtopic 326-20. Instead, impairment of receivables arising from operating leases should be accounted for in accordance with Topic 842, Leases. The effective date and transition requirements for this ASU are the same as ASU 2016-13. The adoption of ASU No. 2018-19 is not expected to have a material impact on the Company's Consolidated Financial Statements. In December 2018, the FASB issued ASU 2018-20, "Leases (Topic 842): Narrow-Scope Improvements for Lessors." The amendments in this update permit lessors, as an accounting policy election, to not evaluate whether certain sales taxes and other similar taxes are lessor costs or lessee costs. Instead, those lessors will account for those costs as if they are lessee costs. A lessor making this election will exclude from the consideration in the contract and from variable payments not included in the consideration in the contract all collections from lessees of taxes within the scope of the election and will provide certain disclosures. For certain lessor costs, the lessor must exclude from variable payments, and therefore revenue, lessor costs paid by lessees directly to third parties from variable payments. In addition, the lessor must account for costs excluded from the consideration of a contract that are paid by the lessor and reimbursed by the lessee as variable payments. A lessor will record those reimbursed costs as revenue. The amendments in this ASU related to recognizing variable payments for contracts with lease and nonlease components require lessors to allocate (rather than recognize as currently required) certain variable payments to the lease and nonlease components when the changes in facts and circumstances on which the variable payment is based occur. After the allocation, the amount of variable payments allocated to the lease components will be recognized as income in profit or loss in accordance with Topic 842, while the amount of variable payments allocated to nonlease components will be recognized in accordance with other Topics, such as Topic 606. The effective date and transition requirements for this ASU are the same as ASU 2016-02. The adoption of ASU No. 2018-20 is not expected to have a material impact on the Company's Consolidated Financial Statements. |
Debt Securities (Tables)
Debt Securities (Tables) | 6 Months Ended |
Dec. 31, 2018 | |
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: December 31, 2018 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value U.S. Government Agencies $ 38,064 $ 7 $ (208 ) $ 37,863 Residential Mortgage-backed Securities of U.S. Government Agencies and Government-Sponsored Enterprises 77,888 106 (1,068 ) 76,926 Municipal Bonds 29,014 196 (130 ) 29,080 Corporate Bonds 6,114 8 (239 ) 5,883 Total $ 151,080 $ 317 $ (1,645 ) $ 149,752 June 30, 2018 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value U.S. Government Agencies $ 48,025 $ 1 $ (484 ) $ 47,542 Residential Mortgage-backed Securities of U.S. Government Agencies and Government-Sponsored Enterprises 71,949 88 (1,438 ) 70,599 Municipal Bonds 30,865 127 (226 ) 30,766 Corporate Bonds 6,166 25 (168 ) 6,023 Equity Securities 63 — — 63 Total $ 157,068 $ 241 $ (2,316 ) $ 154,993 |
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. Available-For-Sale December 31, 2018 Amortized Cost Estimated Fair Value Due within one year $ 18,233 $ 18,191 Due after one year through five years 41,534 41,102 Due after five years through ten years 5,352 5,480 Due after ten years 8,073 8,053 Mortgage-backed securities 77,888 76,926 Total $ 151,080 $ 149,752 |
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 December 31, 2018 and June 30, 2018 were as follows: December 31, 2018 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 $ 7,127 $ (29 ) $ 29,804 $ (179 ) $ 36,931 $ (208 ) Residential Mortgage-backed Securities of U.S. Government Agencies and Government-Sponsored Enterprises 26,536 (192 ) 38,370 (876 ) 64,906 (1,068 ) Municipal Bonds 5,555 (20 ) 10,719 (110 ) 16,274 (130 ) Corporate Bonds 1,364 (64 ) 3,514 (175 ) 4,878 (239 ) Total $ 40,582 $ (305 ) $ 82,407 $ (1,340 ) $ 122,989 $ (1,645 ) June 30, 2018 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 $ 10,962 $ (93 ) $ 35,605 $ (391 ) $ 46,567 $ (484 ) Residential Mortgage-backed Securities of U.S. Government Agencies and Government-Sponsored Enterprises 39,238 (827 ) 21,297 (611 ) 60,535 (1,438 ) Municipal Bonds 19,795 (208 ) 1,446 (18 ) 21,241 (226 ) Corporate Bonds — — 3,566 (168 ) 3,566 (168 ) Total $ 69,995 $ (1,128 ) $ 61,914 $ (1,188 ) $ 131,909 $ (2,316 ) |
Other Investments (Tables)
Other Investments (Tables) | 6 Months Ended |
Dec. 31, 2018 | |
Investments, All Other Investments [Abstract] | |
Investment | Other investments, at cost consist of the following at the dates indicated: December 31, 2018 June 30, 2018 FHLB of Atlanta (1) $ 32,159 $ 29,907 Federal Reserve Bank of Richmond ("FRB") (1) 7,315 7,307 Small Business Investment Companies ("SBIC") (2)(3) 5,384 4,717 Total $ 44,858 $ 41,931 (1) As a requirement for membership, the Bank invests in the stock of both the FHLB of Atlanta and the Federal Reserve Bank of Richmond ("FRB"). No ready market exists for these securities so carrying value approximates their fair value based on the redemption provisions of the FHLB of Atlanta and the FRB, respectively. (2) SBIC investment funds are considered nonmarketable investment securities and are qualified investments under the Community Reinvestment Act. (3) Prior to the adoption of ASU 2016-01, SBIC Investments were maintained in other assets. |
Loans (Tables)
Loans (Tables) | 6 Months Ended |
Dec. 31, 2018 | |
Receivables [Abstract] | |
Schedule of Accounts, Notes, Loans and Financing Receivable | Loans consist of the following at the dates indicated: December 31, 2018 June 30, 2018 Retail consumer loans: One-to-four family $ 661,374 $ 664,289 HELOCs - originated 135,430 137,564 HELOCs - purchased 138,571 166,276 Construction and land/lots 74,507 65,601 Indirect auto finance 170,516 173,095 Consumer 13,520 12,379 Total retail consumer loans 1,193,918 1,219,204 Commercial loans: Commercial real estate 904,357 857,315 Construction and development 198,738 192,102 Commercial and industrial 224,582 148,823 Municipal leases 111,135 109,172 Total commercial loans 1,438,812 1,307,412 Total loans 2,632,730 2,526,616 Deferred loan fees, net (499 ) (764 ) Total loans, net of deferred loan fees 2,632,231 2,525,852 Allowance for loan losses (21,419 ) (21,060 ) Loans, net $ 2,610,812 $ 2,504,792 |
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 December 31, 2018 Retail consumer loans: One-to-four family $ 640,265 $ 2,425 $ 11,423 $ 249 $ 12 $ 655,084 HELOCs - originated 133,741 111 1,149 — 6 135,205 HELOCs - purchased 138,385 — 185 — — 138,571 Construction and land/lots 74,081 16 485 — — 74,116 Indirect auto finance 169,932 — 550 — 2 170,516 Consumer 12,773 16 801 3 9 13,520 Commercial loans: Commercial real estate 882,901 8,513 12,476 — — 896,381 Construction and development 194,423 888 2,649 120 — 197,367 Commercial and industrial 220,974 1,706 167 — 3 222,788 Municipal leases 110,839 296 — — — 111,135 Total loans $ 2,578,314 $ 13,971 $ 29,885 $ 372 $ 32 $ 2,614,683 Pass Special Mention Substandard Doubtful Loss Total June 30, 2018 Retail consumer loans: One-to-four family $ 643,077 $ 3,576 $ 10,059 $ 746 $ 14 $ 657,472 HELOCs - originated 135,336 113 1,735 150 6 137,340 HELOCs - purchased 166,089 — 187 — — 166,276 Construction and land/lots 64,823 23 257 54 — 65,157 Indirect auto finance 172,675 — 420 — — 173,095 Consumer 11,723 85 558 2 11 12,379 Commercial loans: Commercial real estate 835,485 5,804 6,787 — — 848,076 Construction and development 187,187 621 2,067 — — 189,875 Commercial and industrial 145,177 1,279 414 — — 146,870 Municipal leases 108,864 308 — — — 109,172 Total loans $ 2,470,436 $ 11,809 $ 22,484 $ 952 $ 31 $ 2,505,712 The Company's total purchased credit impaired ("PCI") loans by segment, class, and risk grade at the dates indicated follow: Pass Special Mention Substandard Doubtful Loss Total December 31, 2018 Retail consumer loans: One-to-four family $ 4,404 $ 259 $ 1,627 $ — $ — $ 6,290 HELOCs - originated 225 — — — — 225 Construction and land/lots 155 — 236 — — 391 Commercial loans: Commercial real estate 4,593 1,954 1,429 — — 7,976 Construction and development 501 — 870 — — 1,371 Commercial and industrial 1,791 — — — 3 1,794 Total loans $ 11,669 $ 2,213 $ 4,162 $ — $ 3 $ 18,047 Pass Special Mention Substandard Doubtful Loss Total June 30, 2018 Retail consumer loans: One-to-four family $ 4,620 $ 388 $ 1,809 $ — $ — $ 6,817 HELOCs - originated 224 — — — — 224 Construction and land/lots 444 — — — — 444 Commercial loans: Commercial real estate 4,718 2,162 2,359 — — 9,239 Construction and development 547 — 1,680 — — 2,227 Commercial and industrial 1,894 — 59 — — 1,953 Total loans $ 12,447 $ 2,550 $ 5,907 $ — $ — $ 20,904 |
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 December 31, 2018 Retail consumer loans: One-to-four family $ 2,328 $ 1,747 $ 4,075 $ 657,299 $ 661,374 HELOCs - originated 203 333 536 134,894 135,430 HELOCs - purchased 564 — 564 138,007 138,571 Construction and land/lots 37 — 37 74,470 74,507 Indirect auto finance 392 130 522 169,994 170,516 Consumer 185 40 225 13,295 13,520 Commercial loans: Commercial real estate 5,165 559 5,724 898,633 904,357 Construction and development 1 1,396 1,397 197,341 198,738 Commercial and industrial 8 53 61 224,521 224,582 Municipal leases 24 — 24 111,111 111,135 Total loans $ 8,907 $ 4,258 $ 13,165 $ 2,619,565 $ 2,632,730 Past Due Total 30-89 Days 90 Days+ Total Current Loans June 30, 2018 Retail consumer loans: One-to-four family $ 3,001 $ 1,756 $ 4,757 $ 659,532 $ 664,289 HELOCs - originated 98 268 366 137,198 137,564 HELOCs - purchased — — — 166,276 166,276 Construction and land/lots 44 54 98 65,503 65,601 Indirect auto finance 335 127 462 172,633 173,095 Consumer 238 39 277 12,102 12,379 Commercial loans: Commercial real estate 169 1,412 1,581 855,734 857,315 Construction and development 260 1,928 2,188 189,914 192,102 Commercial and industrial 15 69 84 148,739 148,823 Municipal leases — — — 109,172 109,172 Total loans $ 4,160 $ 5,653 $ 9,813 $ 2,516,803 $ 2,526,616 |
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: December 31, 2018 June 30, 2018 Nonaccruing 90 Days + & still accruing Nonaccruing 90 Days + & still accruing Retail consumer loans: One-to-four family $ 4,151 $ — $ 4,308 $ — HELOCs - originated 590 — 656 — HELOCs - purchased 185 — 187 — Construction and land/lots 98 — 165 — Indirect auto finance 243 — 255 — Consumer 515 — 321 — Commercial loans: Commercial real estate 2,104 — 2,863 — Construction and development 1,696 — 2,045 — Commercial and industrial 90 — 114 — Municipal leases — — — — Total loans $ 9,672 $ — $ 10,914 $ — |
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: December 31, 2018 June 30, 2018 Performing TDRs included in impaired loans $ 19,276 $ 21,251 |
Allowance for Credit Losses on Financing Receivables | n analysis of the allowance for loan losses by segment for the periods shown is as follows: Three Months Ended December 31, 2018 Three Months Ended December 31, 2017 PCI Retail Consumer Commercial Total PCI Retail Consumer Commercial Total Balance at beginning of period $ 295 $ 7,252 $ 13,385 $ 20,932 $ 1,197 $ 8,310 $ 12,490 $ 21,997 Provision for (recovery of) loan losses (96 ) (341 ) 437 — (286 ) 162 124 — Charge-offs — (177 ) (78 ) (255 ) (345 ) (378 ) (349 ) (1,072 ) Recoveries — 502 240 742 — 97 68 165 Balance at end of period $ 199 $ 7,236 $ 13,984 $ 21,419 $ 566 $ 8,191 $ 12,333 $ 21,090 Six Months Ended December 31, 2018 Six Months Ended December 31, 2017 PCI Retail Consumer Commercial Total PCI Retail Consumer Commercial Total Balance at beginning of period $ 483 $ 7,527 $ 13,050 $ 21,060 $ 727 $ 8,585 $ 11,839 $ 21,151 Provision for (recovery of) loan losses (284 ) (406 ) 690 — 184 (250 ) 66 — Charge-offs — (592 ) (81 ) (673 ) (345 ) (528 ) (363 ) (1,236 ) Recoveries — 707 325 1,032 — 384 791 1,175 Balance at end of period $ 199 $ 7,236 $ 13,984 $ 21,419 $ 566 $ 8,191 $ 12,333 $ 21,090 |
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 December 31, 2018 Retail consumer loans: One-to-four family $ 61 $ 104 $ 2,926 $ 3,091 $ 6,290 $ 6,126 $ 648,958 $ 661,374 HELOCs - originated — 6 1,129 1,135 225 6 135,199 135,430 HELOCs - purchased — — 655 655 — — 138,571 138,571 Construction and land/lots — — 1,178 1,178 391 333 73,783 74,507 Indirect auto finance — — 1,073 1,073 — 1 170,515 170,516 Consumer — 8 157 165 — 8 13,512 13,520 Commercial loans: Commercial real estate 118 12 8,157 8,287 7,976 2,860 893,521 904,357 Construction and development 4 6 3,107 3,117 1,371 1,529 195,838 198,738 Commercial and industrial 16 2 2,254 2,272 1,794 2 222,786 224,582 Municipal leases — — 446 446 — — 111,135 111,135 Total $ 199 $ 138 $ 21,082 $ 21,419 $ 18,047 $ 10,865 $ 2,603,818 $ 2,632,730 June 30, 2018 Retail consumer loans: One-to-four family $ 98 $ 125 $ 3,137 $ 3,360 $ 6,817 $ 7,104 $ 650,368 $ 664,289 HELOCs - originated — 6 1,117 1,123 224 452 136,888 137,564 HELOCs - purchased — — 795 795 — — 166,276 166,276 Construction and land/lots — 19 1,134 1,153 444 583 64,574 65,601 Indirect auto finance — — 1,126 1,126 — — 173,095 173,095 Consumer — 11 57 68 — 11 12,368 12,379 Commercial loans: Commercial real estate 138 28 8,029 8,195 9,239 3,511 844,565 857,315 Construction and development 229 8 3,109 3,346 2,227 2,223 187,652 192,102 Commercial and industrial 18 — 1,458 1,476 1,953 — 146,870 148,823 Municipal leases — — 418 418 — — 109,172 109,172 Total $ 483 $ 197 $ 20,380 $ 21,060 $ 20,904 $ 13,884 $ 2,491,828 $ 2,526,616 |
Schedule of Impaired Loans and Related Allowance by Segment and Class | The Company's impaired loans and the related allowance, by segment and class, excluding PCI loans, 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 December 31, 2018 Retail consumer loans: One-to-four family $ 20,221 $ 14,855 $ 2,472 $ 17,327 $ 565 HELOCs - originated 1,614 845 120 965 9 HELOCs - purchased 185 — 185 185 — Construction and land/lots 2,200 976 432 1,408 27 Indirect auto finance 407 173 100 273 3 Consumer 2,185 441 1,241 1,682 57 Commercial loans: Commercial real estate 4,418 1,375 2,741 4,116 22 Construction and development 2,869 788 908 1,696 8 Commercial and industrial 3,351 187 1 188 3 Municipal leases — — — — — Total impaired loans $ 37,450 $ 19,640 $ 8,200 $ 27,840 $ 694 June 30, 2018 Retail consumer loans: One-to-four family $ 23,295 $ 16,035 $ 4,140 $ 20,175 $ 554 HELOCs - originated 2,544 1,017 737 1,754 9 HELOCs - purchased 187 — 187 187 — Construction and land/lots 2,348 1,098 446 1,544 53 Indirect auto finance 395 122 133 255 1 Consumer 501 12 46 58 11 Commercial loans: Commercial real estate 5,343 2,862 2,246 5,108 42 Construction and development 3,166 828 1,217 2,045 14 Commercial and industrial 4,898 235 — 235 3 Municipal leases — — — — — Total impaired loans $ 42,677 $ 22,209 $ 9,152 $ 31,361 $ 687 |
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 and six months ended December 31, 2018 and 2017 follows: Three Months Ended December 31, 2018 December 31, 2017 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized Retail consumer loans: One-to-four family $ 17,856 $ 175 $ 24,519 $ 287 HELOCs - originated 924 13 2,750 31 HELOC - purchased 186 3 191 3 Construction and land/lots 1,525 21 1,588 27 Indirect auto finance 335 2 232 3 Consumer 1,618 16 33 4 Commercial loans: Commercial real estate 4,257 34 7,184 77 Construction and development 1,766 15 2,973 31 Commercial and industrial 196 8 1,723 23 Municipal leases — — 102 6 Total loans $ 28,663 $ 287 $ 41,295 $ 492 Six Months Ended December 31, 2018 December 31, 2017 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized Retail consumer loans: One-to-four family $ 18,568 $ 467 $ 24,721 $ 585 HELOCs - originated 1,121 35 2,767 61 HELOCs - purchased 186 7 191 7 Construction and land/lots 1,559 55 1,651 56 Indirect auto finance 331 6 155 9 Consumer 1,212 45 36 8 Commercial loans: Commercial real estate 4,506 121 7,425 152 Construction and development 1,853 31 2,862 52 Commercial and industrial 208 25 1,841 42 Municipal leases — — 201 6 Total loans $ 29,544 $ 792 $ 41,850 $ 978 |
Impaired Financing Receivable | A summary of changes in the accretable yield for PCI loans for the three and six months ended December 31, 2018 and 2017 follows: Three Months Ended December 31, 2018 December 31, 2017 Accretable yield, beginning of period $ 5,452 $ 6,698 Reclass from nonaccretable yield (1) 414 77 Other changes, net (2) 198 80 Interest income (832 ) (634 ) Accretable yield, end of period $ 5,232 $ 6,221 Six Months Ended December 31, 2018 December 31, 2017 Accretable yield, beginning of period $ 5,734 $ 7,080 Reclass from nonaccretable yield (1) 424 278 Other changes, net (2) 335 107 Interest income (1,261 ) (1,244 ) Accretable yield, end of period $ 5,232 $ 6,221 ______________________________________ (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 and six months ended December 31, 2018 and 2017 , the following table presents a breakdown of the types of concessions made on TDRs by loan class: Three Months Ended December 31, 2018 Three Months Ended December 31, 2017 Number of Loans Pre Modification Outstanding Recorded Investment Post Modification Outstanding Recorded Investment Number of Loans Pre Modification Outstanding Recorded Investment Post Modification Outstanding Recorded Investment Below market interest rate: Retail consumer: One-to-four family 1 $ 85 $ 85 3 $ 398 $ 395 Home equity lines of credit — — — 1 64 59 Construction and land/lots — — — 1 36 36 Total 1 $ 85 $ 85 5 $ 498 $ 490 Other TDRs: Retail consumer: One-to-four family 5 $ 354 $ 353 6 $ 177 $ 176 Indirect auto finance — — — 1 19 6 Consumer 1 $ 85 $ 85 — $ — $ — Total 6 $ 439 $ 438 7 $ 196 $ 182 Total 7 $ 524 $ 523 12 $ 694 $ 672 Six Months Ended December 31, 2018 Six Months Ended December 31, 2017 Number of Loans Pre Modification Outstanding Recorded Investment Post Modification Outstanding Recorded Investment Number of Loans Pre Modification Outstanding Recorded Investment Post Modification Outstanding Recorded Investment Below market interest rate: Retail consumer: One-to-four family 1 $ 85 $ 85 3 $ 398 $ 395 HELOCs - originated — — — 1 64 59 Construction and land/lots — — — 1 36 36 Total 1 $ 85 $ 85 5 $ 498 $ 490 Other TDRs: Retail consumer: One-to-four family 9 $ 598 $ 593 15 $ 1,493 $ 1,481 Indirect auto finance 1 33 30 1 19 6 Consumer 2 87 87 — — — Total 12 $ 718 $ 710 16 $ 1,512 $ 1,487 Total 13 $ 803 $ 795 21 $ 2,010 $ 1,977 |
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 and six months ended December 31, 2018 and 2017 : Three Months Ended December 31, 2018 Three Months Ended December 31, 2017 Number of Loans Recorded Investment Number of Loans Recorded Investment Below market interest rate: Retail consumer: One-to-four family — — 1 $ 37 Total — $ — 1 $ 37 Other TDRs: Retail consumer: One-to-four family 2 $ 165 3 $ 493 Indirect auto finance — — 1 6 Consumer 1 2 — — Total 3 $ 167 4 $ 499 Total 3 $ 167 5 $ 536 Six Months Ended December 31, 2018 Six Months Ended December 31, 2017 Number of Loans Recorded Investment Number of Loans Recorded Investment Below market interest rate: Retail consumer: One-to-four family — $ — 1 $ 37 Total — $ — 1 $ 37 Other TDRs: Retail consumer: One-to-four family 2 $ 165 3 $ 493 Indirect auto finance — — 1 6 Consumer 1 2 — — Total 3 $ 167 4 $ 499 Total 3 $ 167 5 $ 536 |
Real Estate Owned (Tables)
Real Estate Owned (Tables) | 6 Months Ended |
Dec. 31, 2018 | |
Real Estate Owned [Abstract] | |
Schedule of Real Estate Properties | The activity within REO for the periods shown is as follows: Three Months Ended December 31, Six Months Ended December 31, 2018 2017 2018 2017 Balance at beginning of period $ 3,286 $ 5,941 $ 3,684 $ 6,318 Transfers from loans 22 339 96 591 Sales, net of gain or loss (230 ) (1,111 ) (574 ) (1,758 ) Writedowns (123 ) (351 ) (251 ) (351 ) Capital improvements — — — 18 Balance at end of period $ 2,955 $ 4,818 $ 2,955 $ 4,818 |
Income Taxes (Tables)
Income Taxes (Tables) | 6 Months Ended |
Dec. 31, 2018 | |
Income Tax Disclosure [Abstract] | |
Schedule of Components of Income Tax Expense | Income tax expense consists of: Three Months Ended December 31, Six Months Ended December 31, 2018 2017 2018 2017 Current: Federal $ (167 ) $ 92 $ 210 $ 230 State 304 (3 ) 429 8 Total current expense 137 89 639 238 Deferred: Federal 2,129 1,611 3,700 3,681 State 21 115 160 406 Adjustment due to the Tax Cuts and Jobs Act — 17,693 — 17,693 Total deferred expense 2,150 19,419 3,860 21,780 Total income tax expense $ 2,287 $ 19,508 $ 4,499 $ 22,018 |
Schedule of Effective Income Tax Rate Reconciliation | The provision for income taxes differs from the amount of income tax determined by applying the applicable U.S. statutory federal income tax rate to income before income taxes as a result of the following differences for the periods indicated: Three Months Ended December 31, Six Months Ended December 31, 2018 2017 2018 2017 $ Rate $ Rate $ Rate $ Rate Tax at federal income tax rate $ 2,169 21 % $ 2,432 28 % $ 4,269 21 % $ 4,653 28 % Increase (decrease) resulting from: Tax exempt income (210 ) (2 )% (264 ) (3 )% (437 ) (2 )% (541 ) (3 )% Nondeductible merger expenses — — % 1 — % — — % 1 — % Change in valuation allowance for deferred tax assets, allocated to income tax expense — — % (49 ) (1 )% — — % (184 ) (1 )% State tax, net of federal benefit 256 2 % 81 1 % 465 2 % 204 1 % Change in deferred tax assets due to North Carolina corporate tax rate decrease — — % — — % — — % 133 1 % Change in deferred tax assets due to the Tax Cuts and Jobs Act — — % 17,693 200 % — — % 17,693 105 % Adjustment for prior quarter expense due to accrual at higher rate — — % (418 ) (5 )% — — % — — % Other 72 1 % 32 — % 202 1 % 59 — % Total $ 2,287 22 % $ 19,508 220 % $ 4,499 22 % $ 22,018 131 % |
Schedule of Deferred Tax Assets and Liabilities | The sources and tax effects of temporary differences that give rise to significant portions of the deferred tax assets (liabilities) at December 31, 2018 and June 30, 2018 are presented below: December 31, 2018 June 30, 2018 Deferred tax assets: Alternative minimum tax credit $ 4,920 $ 4,920 Allowance for loan losses 4,720 4,637 Deferred compensation and post-retirement benefits 9,186 9,400 Accrued vacation and sick leave 18 18 Impairments on real estate owned 498 495 Other than temporary impairment on investments 2,253 2,254 Net operating loss carryforward 5,538 8,635 Discount from business combination 2,500 2,605 Unrealized loss on securities held for sale 306 477 Stock compensation plans 2,014 2,271 Other 1,195 1,562 Total gross deferred tax assets 33,148 37,274 Less valuation allowance (325 ) (325 ) Deferred tax assets 32,823 36,949 Deferred tax (liabilities): Depreciable basis of fixed assets (532 ) (566 ) Deferred loan fees (486 ) (453 ) FHLB stock, book basis in excess of tax (89 ) (89 ) Other (3,183 ) (3,276 ) Total gross deferred tax liabilities (4,290 ) (4,384 ) Net deferred tax assets $ 28,533 $ 32,565 |
Net Income per Share (Tables)
Net Income per Share (Tables) | 6 Months Ended |
Dec. 31, 2018 | |
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 December 31, Six Months Ended December 31, 2018 2017 2018 2017 Numerator: Net income (loss) $ 8,041 $ (10,666 ) $ 15,831 $ (5,099 ) Allocation of earnings to participating securities (57 ) — (112 ) — Numerator for basic EPS - Net income available (loss attributable) to common stockholders $ 7,984 $ (10,666 ) $ 15,719 $ (5,099 ) Effect of dilutive securities: Dilutive effect to participating securities 2 — 4 — Numerator for diluted EPS $ 7,986 $ (10,666 ) $ 15,723 $ (5,099 ) Denominator: Weighted-average common shares outstanding - basic 17,797,553 17,975,883 17,961,465 17,971,439 Effect of dilutive shares 699,781 — 728,119 — Weighted-average common shares outstanding - diluted 18,497,334 17,975,883 18,689,584 17,971,439 Net income (loss) per share - basic $ 0.45 $ (0.59 ) $ 0.88 $ (0.28 ) Net income (loss) per share - diluted $ 0.43 $ (0.59 ) $ 0.84 $ (0.28 ) |
Equity Incentive Plan (Tables)
Equity Incentive Plan (Tables) | 6 Months Ended |
Dec. 31, 2018 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs | The table below presents share based compensation expense and the estimated related tax benefit for stock options and restricted stock for the three and six months ended December 31, 2018 and 2017: Three Months Ended December 31, Six Months Ended December 31, 2018 2017 2018 2017 Share based compensation expense $ 372 $ 841 $ 756 $ 2,014 Tax benefit $ 78 $ 235 $ 192 $ 564 |
Equity Incentive Plan Stock Option Activity | The table below presents stock option activity for the six months ended December 31, 2018 and 2017 : Options Weighted- Remaining Aggregate Options outstanding at June 30, 2017 1,470,043 $ 15.22 5.8 $ 13,533 Exercised 3,900 14.37 — — Forfeited 24,700 14.43 — — Expired 43,273 23.82 — — Options outstanding at December 31, 2017 1,398,170 $ 14.97 5.4 $ 15,077 Exercisable at December 31, 2017 986,670 $ 14.43 5.2 $ 11,169 Non-vested at December 31, 2017 411,500 $ 16.25 6.0 $ 3,908 Options outstanding at June 30, 2018 1,718,270 $ 17.29 5.9 $ 18,664 Exercised 42,200 14.42 — — Forfeited 4,700 17.11 — — Options outstanding at December 31, 2018 1,671,370 $ 17.37 5.4 $ 14,732 Exercisable at December 31, 2018 1,185,270 $ 14.51 4.2 $ 13,832 Non-vested at December 31, 2018 486,100 $ 24.33 8.5 $ 900 |
Schedule of Nonvested Restricted Stock Units Activity | The table below presents restricted stock award activity for the six months ended December 31, 2018 and 2017 : Restricted stock awards Weighted- average grant date fair value Aggregate Intrinsic Value Non-vested at June 30, 2017 185,630 $ 17.46 $ 4,780 Granted 2,000 23.05 — Vested 400 19.02 — Forfeited 6,600 14.37 — Non-vested at December 31, 2017 180,630 $ 17.57 $ 4,651 Non-vested at June 30, 2018 133,410 $ 22.85 $ 3,755 Vested 2,800 16.27 — Forfeited 2,700 16.13 — Non-vested at December 31, 2018 127,910 $ 23.14 $ 3,349 |
Fair Value of Financial Instr_2
Fair Value of Financial Instruments (Tables) | 6 Months Ended |
Dec. 31, 2018 | |
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: December 31, 2018 Description Total Level 1 Level 2 Level 3 U.S Government Agencies $ 37,863 $ — $ 37,863 $ — Residential Mortgage-backed Securities of U.S. Government Agencies and Government Sponsored Enterprises 76,926 — 76,926 — Municipal Bonds 29,080 — 29,080 — Corporate Bonds 5,883 — 5,883 — Total $ 149,752 $ — $ 149,752 $ — June 30, 2018 Description Total Level 1 Level 2 Level 3 U.S Government Agencies $ 47,542 $ — $ 47,542 $ — Residential Mortgage-backed Securities of U.S. Government Agencies and Government Sponsored Enterprises 70,599 — 70,599 — Municipal Bonds 30,766 — 30,766 — Corporate Bonds 6,023 — 6,023 — Equity Securities 63 — 63 — Total $ 154,993 $ — $ 154,993 $ — |
Fair Value Measurements, Nonrecurring | The following table presents financial assets measured at fair value on a non-recurring basis at the dates indicated: December 31, 2018 Description Total Level 1 Level 2 Level 3 Impaired loans $ 4,155 $ — $ — $ 4,155 REO 1,086 — — 1,086 Total $ 5,241 $ — $ — $ 5,241 June 30, 2018 Description Total Level 1 Level 2 Level 3 Impaired loans $ 8,423 $ — $ — $ 8,423 REO 2,104 — — 2,104 Total $ 10,527 $ — $ — $ 10,527 |
Schedule of Quantitative Information About Level 3 Fair Value Measurements | Quantitative information about Level 3 fair value measurements during the period ended December 31, 2018 is shown in the table below: Fair Value at December 31, 2018 Valuation Techniques Unobservable Input Range Weighted Average Nonrecurring measurements: Impaired loans, net $ 4,155 Discounted appraisals and discounted cash flows Collateral discounts 6% - 25% 1% - 3% 2% REO $ 1,086 Discounted appraisals Collateral discounts 8% - 15% 10% |
Fair Value, by Balance Sheet Grouping | The stated carrying value and estimated fair value amounts of financial instruments as of December 31, 2018 and June 30, 2018 , are summarized below: December 31, 2018 Carrying Value Fair Value Level 1 Level 2 Level 3 Assets: Cash and interest-bearing deposits $ 71,306 $ 71,306 $ 71,306 $ — $ — Commercial paper 239,286 239,286 239,286 — — Certificates of deposit in other banks 51,936 51,936 — 51,936 — Securities available for sale 149,752 149,752 — 149,752 $ — Loans, net 2,610,812 2,524,963 — — 2,524,963 Loans held for sale 13,095 13,604 — — 13,604 FHLB stock 32,159 32,159 32,159 — — FRB stock 7,315 7,315 7,315 — — SBIC 5,384 5,384 — — 5,384 Accrued interest receivable 10,372 10,372 — 1,172 9,200 Liabilities: Noninterest-bearing and NOW deposits 774,111 774,111 — 774,111 — Money market accounts 703,445 703,445 — 703,445 — Savings accounts 192,954 192,954 — 192,954 — Certificates of deposit 587,559 582,656 — 582,656 — Borrowings 688,000 686,307 — 686,307 — Accrued interest payable 1,639 1,639 — 1,639 — June 30, 2018 Carrying Value Fair Value Level 1 Level 2 Level 3 Assets: Cash and interest-bearing deposits $ 70,746 $ 70,746 $ 70,746 $ — $ — Commercial paper 229,070 229,070 229,070 — — Certificates of deposit in other banks 66,937 66,937 — 66,937 — Securities available for sale 154,993 154,993 — 154,993 — Loans, net 2,504,792 2,414,647 — — 2,414,647 Loans held for sale 5,873 5,990 — — 5,990 FHLB stock 29,907 29,907 29,907 — — FRB stock 7,307 7,307 7,307 — — SBIC 4,717 4,717 — — 4,717 Accrued interest receivable 9,344 9,344 297 883 8,164 Liabilities: Noninterest-bearing and NOW deposits 789,186 789,186 — 789,186 — Money market accounts 677,665 677,665 — 677,665 — Savings accounts 213,250 213,250 — 213,250 — Certificates of deposit 516,152 509,924 — 509,924 — Borrowings 635,000 635,187 — 635,187 — Accrued interest payable 805 805 — 805 — |
Revenue (Tables)
Revenue (Tables) | 6 Months Ended |
Dec. 31, 2018 | |
Revenue from Contract with Customer [Abstract] | |
Disaggregation of Revenue | The table below presents the Company's sources of noninterest income, segregated by in-scope and out-of-scope revenue streams of ASC 606 at the dates indicated: Three Months Ended December 31, Six Months Ended December 31, 2018 2017 2018 2017 In-scope of ASC 606: Service charges on deposit accounts $ 1,042 $ 942 $ 2,026 $ 1,831 Fees, interchange, and other service charges 1,697 1,144 3,300 2,213 Other 154 267 366 452 Noninterest income (in-scope of ASC 606) 2,893 2,353 5,692 4,496 Noninterest income (out-of-scope of ASC 606) 2,192 2,106 5,006 4,225 Total noninterest income $ 5,085 $ 4,459 $ 10,698 $ 8,721 |
Debt Securities - Available for
Debt Securities - Available for Sale Securities Table (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Jun. 30, 2018 |
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | $ 151,080 | $ 157,068 |
Gross Unrealized Gains | 317 | 241 |
Gross Unrealized Losses | (1,645) | (2,316) |
Estimated Fair Value | 149,752 | 154,993 |
U.S. Government Agencies | ||
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | 38,064 | 48,025 |
Gross Unrealized Gains | 7 | 1 |
Gross Unrealized Losses | (208) | (484) |
Estimated Fair Value | 37,863 | 47,542 |
Government Agencies and Government Sponsored Enterprises | ||
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | 77,888 | 71,949 |
Gross Unrealized Gains | 106 | 88 |
Gross Unrealized Losses | (1,068) | (1,438) |
Estimated Fair Value | 76,926 | 70,599 |
Municipal Bonds | ||
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | 29,014 | 30,865 |
Gross Unrealized Gains | 196 | 127 |
Gross Unrealized Losses | (130) | (226) |
Estimated Fair Value | 29,080 | 30,766 |
Corporate Bonds | ||
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | 6,114 | 6,166 |
Gross Unrealized Gains | 8 | 25 |
Gross Unrealized Losses | (239) | (168) |
Estimated Fair Value | $ 5,883 | 6,023 |
Equity Securities | ||
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | 63 | |
Gross Unrealized Gains | 0 | |
Gross Unrealized Losses | 0 | |
Estimated Fair Value | $ 63 |
Debt Securities - Schedule of I
Debt Securities - Schedule of Investments Classified by Contractual Maturity Date (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Jun. 30, 2018 |
Amortized Cost | ||
Due within one year | $ 18,233 | |
Due after one year through five years | 41,534 | |
Due after five years through ten years | 5,352 | |
Due after ten years | 8,073 | |
Total | 151,080 | |
Estimated Fair Value | ||
Due within one year | 18,191 | |
Due after one year through five years | 41,102 | |
Due after five years through ten years | 5,480 | |
Due after ten years | 8,053 | |
Estimated Fair Value | 149,752 | $ 154,993 |
Government Agencies and Government Sponsored Enterprises | ||
Amortized Cost | ||
Total | 77,888 | |
Estimated Fair Value | ||
Estimated Fair Value | $ 76,926 | $ 70,599 |
Debt Securities - Narrative (De
Debt Securities - Narrative (Details) | 6 Months Ended | 12 Months Ended | ||
Dec. 31, 2018USD ($)security | Dec. 31, 2017USD ($) | Jun. 30, 2017USD ($) | Jun. 30, 2018USD ($)security | |
Debt Securities, Available-for-sale [Line Items] | ||||
Estimated Fair Value | $ 149,752,000 | $ 154,993,000 | ||
Proceeds from sale of securities available for sale | 0 | |||
Gross realized gain (loss) | 0 | $ 0 | ||
Securities available for sale pledged as collateral market value | $ 125,765,000 | $ 135,313,000 | ||
Number of securities with unrealized losses | security | 201 | 218 | ||
Other than temporary impairment losses | $ 0 | $ 0 | ||
Collateral Pledged | ||||
Debt Securities, Available-for-sale [Line Items] | ||||
Estimated Fair Value | $ 126,758,000 | $ 136,914,000 |
Debt Securities - Available f_2
Debt Securities - Available for Sale Securities Continuous Unrealized Loss Position Fair Value (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Jun. 30, 2018 |
Debt Securities, Available-for-sale, Unrealized Loss Position [Abstract] | ||
Less than 12 Months, Fair Value | $ 40,582 | $ 69,995 |
12 Months or Longer, Fair Value | 82,407 | 61,914 |
Total, Fair Value | 122,989 | 131,909 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss [Abstract] (Deprecated 2018-01-31) | ||
12 Months or More, Fair Value | (305) | (1,128) |
12 Months or More, Unrealized Losses | (1,340) | (1,188) |
Total, Unrealized Losses | (1,645) | (2,316) |
U.S. Government Agencies | ||
Debt Securities, Available-for-sale, Unrealized Loss Position [Abstract] | ||
Less than 12 Months, Fair Value | 7,127 | 10,962 |
12 Months or Longer, Fair Value | 29,804 | 35,605 |
Total, Fair Value | 36,931 | 46,567 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss [Abstract] (Deprecated 2018-01-31) | ||
12 Months or More, Fair Value | (29) | (93) |
12 Months or More, Unrealized Losses | (179) | (391) |
Total, Unrealized Losses | (208) | (484) |
Government Agencies and Government Sponsored Enterprises | ||
Debt Securities, Available-for-sale, Unrealized Loss Position [Abstract] | ||
Less than 12 Months, Fair Value | 26,536 | 39,238 |
12 Months or Longer, Fair Value | 38,370 | 21,297 |
Total, Fair Value | 64,906 | 60,535 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss [Abstract] (Deprecated 2018-01-31) | ||
12 Months or More, Fair Value | (192) | (827) |
12 Months or More, Unrealized Losses | (876) | (611) |
Total, Unrealized Losses | (1,068) | (1,438) |
Municipal Bonds | ||
Debt Securities, Available-for-sale, Unrealized Loss Position [Abstract] | ||
Less than 12 Months, Fair Value | 5,555 | 19,795 |
12 Months or Longer, Fair Value | 10,719 | 1,446 |
Total, Fair Value | 16,274 | 21,241 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss [Abstract] (Deprecated 2018-01-31) | ||
12 Months or More, Fair Value | (20) | (208) |
12 Months or More, Unrealized Losses | (110) | (18) |
Total, Unrealized Losses | (130) | (226) |
Corporate Bonds | ||
Debt Securities, Available-for-sale, Unrealized Loss Position [Abstract] | ||
Less than 12 Months, Fair Value | 1,364 | 0 |
12 Months or Longer, Fair Value | 3,514 | 3,566 |
Total, Fair Value | 4,878 | 3,566 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss [Abstract] (Deprecated 2018-01-31) | ||
12 Months or More, Fair Value | (64) | 0 |
12 Months or More, Unrealized Losses | (175) | (168) |
Total, Unrealized Losses | $ (239) | $ (168) |
Other Investments (Details)
Other Investments (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Jun. 30, 2018 |
Investments, All Other Investments [Abstract] | ||
FHLB of Atlanta | $ 32,159 | $ 29,907 |
Federal Reserve Bank of Richmond (FRB) | 7,315 | 7,307 |
Small Business Investment Companies (SBIC) | 5,384 | 4,717 |
Other investments, at cost | $ 44,858 | $ 41,931 |
Loans - Schedule of Accounts, N
Loans - Schedule of Accounts, Notes, Loans and Financing Receivable (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Jun. 30, 2018 |
Accounts, Notes, Loans and Financing Receivable | ||
Total loans | $ 2,632,730 | $ 2,526,616 |
Deferred loan fees, net | (499) | (764) |
Total loans, net of deferred loan fees | 2,632,231 | 2,525,852 |
Allowance for loan losses | (21,419) | (21,060) |
Net loans | 2,610,812 | 2,504,792 |
Retail Consumer Loans | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans | 1,193,918 | 1,219,204 |
Retail Consumer Loans | One to four family loans | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans | 661,374 | 664,289 |
Retail Consumer Loans | HELOCs - originated | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans | 135,430 | 137,564 |
Retail Consumer Loans | HELOCs - purchased | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans | 138,571 | 166,276 |
Retail Consumer Loans | Construction and land/lots | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans | 74,507 | 65,601 |
Retail Consumer Loans | Indirect auto finance | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans | 170,516 | 173,095 |
Retail Consumer Loans | Consumer loans | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans | 13,520 | 12,379 |
Commercial Loans | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans | 1,438,812 | 1,307,412 |
Commercial Loans | Commercial real estate | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans | 904,357 | 857,315 |
Commercial Loans | Construction and development loans | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans | 198,738 | 192,102 |
Commercial Loans | Commercial and industrial | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans | 224,582 | 148,823 |
Commercial Loans | Municipal leases | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans | $ 111,135 | $ 109,172 |
Loans - Financing Receivable Cr
Loans - Financing Receivable Credit Quality Indicators (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Jun. 30, 2018 |
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | $ 2,614,683 | $ 2,505,712 |
Pass | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 2,578,314 | 2,470,436 |
Special Mention | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 13,971 | 11,809 |
Substandard | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 29,885 | 22,484 |
Doubtful | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 372 | 952 |
Loss | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 32 | 31 |
Retail Consumer Loans | One to four family loans | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 655,084 | 657,472 |
Retail Consumer Loans | Consumer loans | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 13,520 | 12,379 |
Retail Consumer Loans | HELOCs - originated | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 135,205 | 137,340 |
Retail Consumer Loans | HELOCs - purchased | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 138,571 | 166,276 |
Retail Consumer Loans | Construction and land/lots | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 74,116 | 65,157 |
Retail Consumer Loans | Pass | One to four family loans | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 640,265 | 643,077 |
Retail Consumer Loans | Pass | Consumer loans | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 12,773 | 11,723 |
Retail Consumer Loans | Pass | HELOCs - originated | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 133,741 | 135,336 |
Retail Consumer Loans | Pass | HELOCs - purchased | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 138,385 | 166,089 |
Retail Consumer Loans | Pass | Construction and land/lots | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 74,081 | 64,823 |
Retail Consumer Loans | Special Mention | One to four family loans | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 2,425 | 3,576 |
Retail Consumer Loans | Special Mention | Consumer loans | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 16 | 85 |
Retail Consumer Loans | Special Mention | HELOCs - originated | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 111 | 113 |
Retail Consumer Loans | Special Mention | HELOCs - purchased | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 0 | 0 |
Retail Consumer Loans | Special Mention | Construction and land/lots | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 16 | 23 |
Retail Consumer Loans | Substandard | One to four family loans | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 11,423 | 10,059 |
Retail Consumer Loans | Substandard | Consumer loans | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 801 | 558 |
Retail Consumer Loans | Substandard | HELOCs - originated | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 1,149 | 1,735 |
Retail Consumer Loans | Substandard | HELOCs - purchased | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 185 | 187 |
Retail Consumer Loans | Substandard | Construction and land/lots | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 485 | 257 |
Retail Consumer Loans | Doubtful | One to four family loans | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 249 | 746 |
Retail Consumer Loans | Doubtful | Consumer loans | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 3 | 2 |
Retail Consumer Loans | Doubtful | HELOCs - originated | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 0 | 150 |
Retail Consumer Loans | Doubtful | HELOCs - purchased | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 0 | 0 |
Retail Consumer Loans | Doubtful | Construction and land/lots | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 0 | 54 |
Retail Consumer Loans | Loss | One to four family loans | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 12 | 14 |
Retail Consumer Loans | Loss | Consumer loans | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 9 | 11 |
Retail Consumer Loans | Loss | HELOCs - originated | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 6 | 6 |
Retail Consumer Loans | Loss | HELOCs - purchased | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 0 | 0 |
Retail Consumer Loans | Loss | Construction and land/lots | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 0 | 0 |
Commercial Loans | Commercial real estate | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 896,381 | 848,076 |
Commercial Loans | Construction and development loans | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 197,367 | 189,875 |
Commercial Loans | Commercial and industrial | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 222,788 | 146,870 |
Commercial Loans | Municipal leases | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 111,135 | 109,172 |
Commercial Loans | Pass | Commercial real estate | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 882,901 | 835,485 |
Commercial Loans | Pass | Construction and development loans | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 194,423 | 187,187 |
Commercial Loans | Pass | Commercial and industrial | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 220,974 | 145,177 |
Commercial Loans | Pass | Municipal leases | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 110,839 | 108,864 |
Commercial Loans | Special Mention | Commercial real estate | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 8,513 | 5,804 |
Commercial Loans | Special Mention | Construction and development loans | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 888 | 621 |
Commercial Loans | Special Mention | Commercial and industrial | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 1,706 | 1,279 |
Commercial Loans | Special Mention | Municipal leases | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 296 | 308 |
Commercial Loans | Substandard | Commercial real estate | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 12,476 | 6,787 |
Commercial Loans | Substandard | Construction and development loans | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 2,649 | 2,067 |
Commercial Loans | Substandard | Commercial and industrial | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 167 | 414 |
Commercial Loans | Substandard | Municipal leases | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 0 | 0 |
Commercial Loans | Doubtful | Commercial real estate | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 0 | 0 |
Commercial Loans | Doubtful | Construction and development loans | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 120 | 0 |
Commercial Loans | Doubtful | Commercial and industrial | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 0 | 0 |
Commercial Loans | Doubtful | Municipal leases | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 0 | 0 |
Commercial Loans | Loss | Commercial real estate | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 0 | 0 |
Commercial Loans | Loss | Construction and development loans | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 0 | 0 |
Commercial Loans | Loss | Commercial and industrial | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 3 | 0 |
Commercial Loans | Loss | Municipal leases | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | $ 0 | $ 0 |
Loans - Schedule of PCI Loans C
Loans - Schedule of PCI Loans Credit Quality Indicators (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Jun. 30, 2018 |
Financing Receivable, Recorded Investment | ||
Total loans | $ 2,614,683 | $ 2,505,712 |
Pass | ||
Financing Receivable, Recorded Investment | ||
Total loans | 2,578,314 | 2,470,436 |
Special Mention | ||
Financing Receivable, Recorded Investment | ||
Total loans | 13,971 | 11,809 |
Substandard | ||
Financing Receivable, Recorded Investment | ||
Total loans | 29,885 | 22,484 |
Doubtful | ||
Financing Receivable, Recorded Investment | ||
Total loans | 372 | 952 |
Loss | ||
Financing Receivable, Recorded Investment | ||
Total loans | 32 | 31 |
Retail Consumer Loans | One to four family loans | ||
Financing Receivable, Recorded Investment | ||
Total loans | 655,084 | 657,472 |
Retail Consumer Loans | HELOCs - originated | ||
Financing Receivable, Recorded Investment | ||
Total loans | 135,205 | 137,340 |
Retail Consumer Loans | Construction and land/lots | ||
Financing Receivable, Recorded Investment | ||
Total loans | 74,116 | 65,157 |
Retail Consumer Loans | Indirect auto finance | ||
Financing Receivable, Recorded Investment | ||
Total loans | 170,516 | 173,095 |
Retail Consumer Loans | Consumer loans | ||
Financing Receivable, Recorded Investment | ||
Total loans | 13,520 | 12,379 |
Retail Consumer Loans | Pass | One to four family loans | ||
Financing Receivable, Recorded Investment | ||
Total loans | 640,265 | 643,077 |
Retail Consumer Loans | Pass | HELOCs - originated | ||
Financing Receivable, Recorded Investment | ||
Total loans | 133,741 | 135,336 |
Retail Consumer Loans | Pass | Construction and land/lots | ||
Financing Receivable, Recorded Investment | ||
Total loans | 74,081 | 64,823 |
Retail Consumer Loans | Pass | Indirect auto finance | ||
Financing Receivable, Recorded Investment | ||
Total loans | 169,932 | 172,675 |
Retail Consumer Loans | Pass | Consumer loans | ||
Financing Receivable, Recorded Investment | ||
Total loans | 12,773 | 11,723 |
Retail Consumer Loans | Special Mention | One to four family loans | ||
Financing Receivable, Recorded Investment | ||
Total loans | 2,425 | 3,576 |
Retail Consumer Loans | Special Mention | HELOCs - originated | ||
Financing Receivable, Recorded Investment | ||
Total loans | 111 | 113 |
Retail Consumer Loans | Special Mention | Construction and land/lots | ||
Financing Receivable, Recorded Investment | ||
Total loans | 16 | 23 |
Retail Consumer Loans | Special Mention | Indirect auto finance | ||
Financing Receivable, Recorded Investment | ||
Total loans | 0 | 0 |
Retail Consumer Loans | Special Mention | Consumer loans | ||
Financing Receivable, Recorded Investment | ||
Total loans | 16 | 85 |
Retail Consumer Loans | Substandard | One to four family loans | ||
Financing Receivable, Recorded Investment | ||
Total loans | 11,423 | 10,059 |
Retail Consumer Loans | Substandard | HELOCs - originated | ||
Financing Receivable, Recorded Investment | ||
Total loans | 1,149 | 1,735 |
Retail Consumer Loans | Substandard | Construction and land/lots | ||
Financing Receivable, Recorded Investment | ||
Total loans | 485 | 257 |
Retail Consumer Loans | Substandard | Indirect auto finance | ||
Financing Receivable, Recorded Investment | ||
Total loans | 550 | 420 |
Retail Consumer Loans | Substandard | Consumer loans | ||
Financing Receivable, Recorded Investment | ||
Total loans | 801 | 558 |
Retail Consumer Loans | Doubtful | One to four family loans | ||
Financing Receivable, Recorded Investment | ||
Total loans | 249 | 746 |
Retail Consumer Loans | Doubtful | HELOCs - originated | ||
Financing Receivable, Recorded Investment | ||
Total loans | 0 | 150 |
Retail Consumer Loans | Doubtful | Construction and land/lots | ||
Financing Receivable, Recorded Investment | ||
Total loans | 0 | 54 |
Retail Consumer Loans | Doubtful | Indirect auto finance | ||
Financing Receivable, Recorded Investment | ||
Total loans | 0 | 0 |
Retail Consumer Loans | Doubtful | Consumer loans | ||
Financing Receivable, Recorded Investment | ||
Total loans | 3 | 2 |
Retail Consumer Loans | Loss | One to four family loans | ||
Financing Receivable, Recorded Investment | ||
Total loans | 12 | 14 |
Retail Consumer Loans | Loss | HELOCs - originated | ||
Financing Receivable, Recorded Investment | ||
Total loans | 6 | 6 |
Retail Consumer Loans | Loss | Construction and land/lots | ||
Financing Receivable, Recorded Investment | ||
Total loans | 0 | 0 |
Retail Consumer Loans | Loss | Indirect auto finance | ||
Financing Receivable, Recorded Investment | ||
Total loans | 2 | 0 |
Retail Consumer Loans | Loss | Consumer loans | ||
Financing Receivable, Recorded Investment | ||
Total loans | 9 | 11 |
Commercial Loans | Commercial real estate | ||
Financing Receivable, Recorded Investment | ||
Total loans | 896,381 | 848,076 |
Commercial Loans | Construction and development loans | ||
Financing Receivable, Recorded Investment | ||
Total loans | 197,367 | 189,875 |
Commercial Loans | Commercial and industrial | ||
Financing Receivable, Recorded Investment | ||
Total loans | 222,788 | 146,870 |
Commercial Loans | Pass | Commercial real estate | ||
Financing Receivable, Recorded Investment | ||
Total loans | 882,901 | 835,485 |
Commercial Loans | Pass | Construction and development loans | ||
Financing Receivable, Recorded Investment | ||
Total loans | 194,423 | 187,187 |
Commercial Loans | Pass | Commercial and industrial | ||
Financing Receivable, Recorded Investment | ||
Total loans | 220,974 | 145,177 |
Commercial Loans | Special Mention | Commercial real estate | ||
Financing Receivable, Recorded Investment | ||
Total loans | 8,513 | 5,804 |
Commercial Loans | Special Mention | Construction and development loans | ||
Financing Receivable, Recorded Investment | ||
Total loans | 888 | 621 |
Commercial Loans | Special Mention | Commercial and industrial | ||
Financing Receivable, Recorded Investment | ||
Total loans | 1,706 | 1,279 |
Commercial Loans | Substandard | Commercial real estate | ||
Financing Receivable, Recorded Investment | ||
Total loans | 12,476 | 6,787 |
Commercial Loans | Substandard | Construction and development loans | ||
Financing Receivable, Recorded Investment | ||
Total loans | 2,649 | 2,067 |
Commercial Loans | Substandard | Commercial and industrial | ||
Financing Receivable, Recorded Investment | ||
Total loans | 167 | 414 |
Commercial Loans | Doubtful | Commercial real estate | ||
Financing Receivable, Recorded Investment | ||
Total loans | 0 | 0 |
Commercial Loans | Doubtful | Construction and development loans | ||
Financing Receivable, Recorded Investment | ||
Total loans | 120 | 0 |
Commercial Loans | Doubtful | Commercial and industrial | ||
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 | Construction and development loans | ||
Financing Receivable, Recorded Investment | ||
Total loans | 0 | 0 |
Commercial Loans | Loss | Commercial and industrial | ||
Financing Receivable, Recorded Investment | ||
Total loans | 3 | 0 |
Purchased Credit Impaired (PCI) Loans | ||
Financing Receivable, Recorded Investment | ||
Total loans | 18,047 | 20,904 |
Purchased Credit Impaired (PCI) Loans | Pass | ||
Financing Receivable, Recorded Investment | ||
Total loans | 11,669 | 12,447 |
Purchased Credit Impaired (PCI) Loans | Special Mention | ||
Financing Receivable, Recorded Investment | ||
Total loans | 2,213 | 2,550 |
Purchased Credit Impaired (PCI) Loans | Substandard | ||
Financing Receivable, Recorded Investment | ||
Total loans | 4,162 | 5,907 |
Purchased Credit Impaired (PCI) Loans | Doubtful | ||
Financing Receivable, Recorded Investment | ||
Total loans | 0 | 0 |
Purchased Credit Impaired (PCI) Loans | Loss | ||
Financing Receivable, Recorded Investment | ||
Total loans | 3 | 0 |
Purchased Credit Impaired (PCI) Loans | Retail Consumer Loans | One to four family loans | ||
Financing Receivable, Recorded Investment | ||
Total loans | 6,290 | 6,817 |
Purchased Credit Impaired (PCI) Loans | Retail Consumer Loans | HELOCs - originated | ||
Financing Receivable, Recorded Investment | ||
Total loans | 225 | 224 |
Purchased Credit Impaired (PCI) Loans | Retail Consumer Loans | Construction and land/lots | ||
Financing Receivable, Recorded Investment | ||
Total loans | 391 | 444 |
Purchased Credit Impaired (PCI) Loans | Retail Consumer Loans | Indirect auto finance | ||
Financing Receivable, Recorded Investment | ||
Total loans | 0 | 0 |
Purchased Credit Impaired (PCI) Loans | Retail Consumer Loans | Consumer loans | ||
Financing Receivable, Recorded Investment | ||
Total loans | 0 | 0 |
Purchased Credit Impaired (PCI) Loans | Retail Consumer Loans | Pass | One to four family loans | ||
Financing Receivable, Recorded Investment | ||
Total loans | 4,404 | 4,620 |
Purchased Credit Impaired (PCI) Loans | Retail Consumer Loans | Pass | HELOCs - originated | ||
Financing Receivable, Recorded Investment | ||
Total loans | 225 | 224 |
Purchased Credit Impaired (PCI) Loans | Retail Consumer Loans | Pass | Construction and land/lots | ||
Financing Receivable, Recorded Investment | ||
Total loans | 155 | 444 |
Purchased Credit Impaired (PCI) Loans | Retail Consumer Loans | Special Mention | One to four family loans | ||
Financing Receivable, Recorded Investment | ||
Total loans | 259 | 388 |
Purchased Credit Impaired (PCI) Loans | Retail Consumer Loans | Special Mention | HELOCs - originated | ||
Financing Receivable, Recorded Investment | ||
Total loans | 0 | 0 |
Purchased Credit Impaired (PCI) Loans | Retail Consumer Loans | Special Mention | Construction and land/lots | ||
Financing Receivable, Recorded Investment | ||
Total loans | 0 | 0 |
Purchased Credit Impaired (PCI) Loans | Retail Consumer Loans | Substandard | One to four family loans | ||
Financing Receivable, Recorded Investment | ||
Total loans | 1,627 | 1,809 |
Purchased Credit Impaired (PCI) Loans | Retail Consumer Loans | Substandard | HELOCs - originated | ||
Financing Receivable, Recorded Investment | ||
Total loans | 0 | 0 |
Purchased Credit Impaired (PCI) Loans | Retail Consumer Loans | Substandard | Construction and land/lots | ||
Financing Receivable, Recorded Investment | ||
Total loans | 236 | 0 |
Purchased Credit Impaired (PCI) Loans | Retail Consumer Loans | Doubtful | One to four family loans | ||
Financing Receivable, Recorded Investment | ||
Total loans | 0 | 0 |
Purchased Credit Impaired (PCI) Loans | Retail Consumer Loans | Doubtful | HELOCs - originated | ||
Financing Receivable, Recorded Investment | ||
Total loans | 0 | 0 |
Purchased Credit Impaired (PCI) Loans | Retail Consumer Loans | Doubtful | Construction and land/lots | ||
Financing Receivable, Recorded Investment | ||
Total loans | 0 | 0 |
Purchased Credit Impaired (PCI) Loans | Retail Consumer Loans | Loss | One to four family loans | ||
Financing Receivable, Recorded Investment | ||
Total loans | 0 | 0 |
Purchased Credit Impaired (PCI) Loans | Retail Consumer Loans | Loss | HELOCs - originated | ||
Financing Receivable, Recorded Investment | ||
Total loans | 0 | 0 |
Purchased Credit Impaired (PCI) Loans | Retail Consumer Loans | Loss | Construction and land/lots | ||
Financing Receivable, Recorded Investment | ||
Total loans | 0 | 0 |
Purchased Credit Impaired (PCI) Loans | Commercial Loans | Commercial real estate | ||
Financing Receivable, Recorded Investment | ||
Total loans | 7,976 | 9,239 |
Purchased Credit Impaired (PCI) Loans | Commercial Loans | Construction and development loans | ||
Financing Receivable, Recorded Investment | ||
Total loans | 1,371 | 2,227 |
Purchased Credit Impaired (PCI) Loans | Commercial Loans | Commercial and industrial | ||
Financing Receivable, Recorded Investment | ||
Total loans | 1,794 | 1,953 |
Purchased Credit Impaired (PCI) Loans | Commercial Loans | Pass | Commercial real estate | ||
Financing Receivable, Recorded Investment | ||
Total loans | 4,593 | 4,718 |
Purchased Credit Impaired (PCI) Loans | Commercial Loans | Pass | Construction and development loans | ||
Financing Receivable, Recorded Investment | ||
Total loans | 501 | 547 |
Purchased Credit Impaired (PCI) Loans | Commercial Loans | Pass | Commercial and industrial | ||
Financing Receivable, Recorded Investment | ||
Total loans | 1,791 | 1,894 |
Purchased Credit Impaired (PCI) Loans | Commercial Loans | Special Mention | Commercial real estate | ||
Financing Receivable, Recorded Investment | ||
Total loans | 1,954 | 2,162 |
Purchased Credit Impaired (PCI) Loans | Commercial Loans | Special Mention | Construction and development loans | ||
Financing Receivable, Recorded Investment | ||
Total loans | 0 | 0 |
Purchased Credit Impaired (PCI) Loans | Commercial Loans | Special Mention | Commercial and industrial | ||
Financing Receivable, Recorded Investment | ||
Total loans | 0 | 0 |
Purchased Credit Impaired (PCI) Loans | Commercial Loans | Substandard | Commercial real estate | ||
Financing Receivable, Recorded Investment | ||
Total loans | 1,429 | 2,359 |
Purchased Credit Impaired (PCI) Loans | Commercial Loans | Substandard | Construction and development loans | ||
Financing Receivable, Recorded Investment | ||
Total loans | 870 | 1,680 |
Purchased Credit Impaired (PCI) Loans | Commercial Loans | Substandard | Commercial and industrial | ||
Financing Receivable, Recorded Investment | ||
Total loans | 0 | 59 |
Purchased Credit Impaired (PCI) Loans | Commercial Loans | Doubtful | Commercial real estate | ||
Financing Receivable, Recorded Investment | ||
Total loans | 0 | 0 |
Purchased Credit Impaired (PCI) Loans | Commercial Loans | Doubtful | Construction and development loans | ||
Financing Receivable, Recorded Investment | ||
Total loans | 0 | 0 |
Purchased Credit Impaired (PCI) Loans | Commercial Loans | Doubtful | Commercial and industrial | ||
Financing Receivable, Recorded Investment | ||
Total loans | 0 | 0 |
Purchased Credit Impaired (PCI) Loans | Commercial Loans | Loss | Commercial real estate | ||
Financing Receivable, Recorded Investment | ||
Total loans | 0 | 0 |
Purchased Credit Impaired (PCI) Loans | Commercial Loans | Loss | Construction and development loans | ||
Financing Receivable, Recorded Investment | ||
Total loans | 0 | 0 |
Purchased Credit Impaired (PCI) Loans | Commercial Loans | Loss | Commercial and industrial | ||
Financing Receivable, Recorded Investment | ||
Total loans | $ 3 | $ 0 |
Loans - Schedule of Past Due Fi
Loans - Schedule of Past Due Financing Receivables (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Jun. 30, 2018 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | $ 13,165 | $ 9,813 |
Current | 2,619,565 | 2,516,803 |
Total Loans Receivable | 2,632,730 | 2,526,616 |
30-89 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 8,907 | 4,160 |
90 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 4,258 | 5,653 |
Retail Consumer Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans Receivable | 1,193,918 | 1,219,204 |
Retail Consumer Loans | One-to-four family | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 4,075 | 4,757 |
Current | 657,299 | 659,532 |
Total Loans Receivable | 661,374 | 664,289 |
Retail Consumer Loans | One-to-four family | 30-89 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 2,328 | 3,001 |
Retail Consumer Loans | One-to-four family | 90 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 1,747 | 1,756 |
Retail Consumer Loans | Indirect auto finance | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 522 | 462 |
Current | 169,994 | 172,633 |
Total Loans Receivable | 170,516 | 173,095 |
Retail Consumer Loans | Indirect auto finance | 30-89 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 392 | 335 |
Retail Consumer Loans | Indirect auto finance | 90 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 130 | 127 |
Retail Consumer Loans | Consumer loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 225 | 277 |
Current | 13,295 | 12,102 |
Total Loans Receivable | 13,520 | 12,379 |
Retail Consumer Loans | Consumer loans | 30-89 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 185 | 238 |
Retail Consumer Loans | Consumer loans | 90 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 40 | 39 |
Retail Consumer Loans | HELOCs - originated | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 536 | 366 |
Current | 134,894 | 137,198 |
Total Loans Receivable | 135,430 | 137,564 |
Retail Consumer Loans | HELOCs - originated | 30-89 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 203 | 98 |
Retail Consumer Loans | HELOCs - originated | 90 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 333 | 268 |
Retail Consumer Loans | HELOCs - purchased | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 564 | 0 |
Current | 138,007 | 166,276 |
Total Loans Receivable | 138,571 | 166,276 |
Retail Consumer Loans | HELOCs - purchased | 30-89 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 564 | 0 |
Retail Consumer Loans | HELOCs - purchased | 90 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 0 | 0 |
Retail Consumer Loans | Construction and land/lots | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 37 | 98 |
Current | 74,470 | 65,503 |
Total Loans Receivable | 74,507 | 65,601 |
Retail Consumer Loans | Construction and land/lots | 30-89 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 37 | 44 |
Retail Consumer Loans | Construction and land/lots | 90 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 0 | 54 |
Commercial Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans Receivable | 1,438,812 | 1,307,412 |
Commercial Loans | Commercial real estate | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 5,724 | 1,581 |
Current | 898,633 | 855,734 |
Total Loans Receivable | 904,357 | 857,315 |
Commercial Loans | Commercial real estate | 30-89 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 5,165 | 169 |
Commercial Loans | Commercial real estate | 90 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 559 | 1,412 |
Commercial Loans | Construction and development loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 1,397 | 2,188 |
Current | 197,341 | 189,914 |
Total Loans Receivable | 198,738 | 192,102 |
Commercial Loans | Construction and development loans | 30-89 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 1 | 260 |
Commercial Loans | Construction and development loans | 90 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 1,396 | 1,928 |
Commercial Loans | Commercial and industrial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 61 | 84 |
Current | 224,521 | 148,739 |
Total Loans Receivable | 224,582 | 148,823 |
Commercial Loans | Commercial and industrial | 30-89 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 8 | 15 |
Commercial Loans | Commercial and industrial | 90 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 53 | 69 |
Commercial Loans | Municipal leases | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 24 | 0 |
Current | 111,111 | 109,172 |
Total Loans Receivable | 111,135 | 109,172 |
Commercial Loans | Municipal leases | 30-89 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 24 | 0 |
Commercial Loans | Municipal leases | 90 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | $ 0 | $ 0 |
Loans - Schedule of Past Due Lo
Loans - Schedule of Past Due Loans Still Accruing and Nonaccruing Interest (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Jun. 30, 2018 |
Accounts, Notes, Loans and Financing Receivable | ||
Nonaccruing | $ 9,672 | $ 10,914 |
90 Days & still accruing | 0 | 0 |
Purchased Credit Impaired (PCI) Loans | ||
Accounts, Notes, Loans and Financing Receivable | ||
Nonaccruing | 2,071 | 3,353 |
Retail Consumer Loans | One to four family loans | ||
Accounts, Notes, Loans and Financing Receivable | ||
Nonaccruing | 4,151 | 4,308 |
90 Days & still accruing | 0 | 0 |
Retail Consumer Loans | Indirect auto finance | ||
Accounts, Notes, Loans and Financing Receivable | ||
Nonaccruing | 243 | 255 |
90 Days & still accruing | 0 | 0 |
Retail Consumer Loans | Consumer loans | ||
Accounts, Notes, Loans and Financing Receivable | ||
Nonaccruing | 515 | 321 |
90 Days & still accruing | 0 | 0 |
Retail Consumer Loans | HELOCs - originated | ||
Accounts, Notes, Loans and Financing Receivable | ||
Nonaccruing | 590 | 656 |
90 Days & still accruing | 0 | 0 |
Retail Consumer Loans | HELOCs - purchased | ||
Accounts, Notes, Loans and Financing Receivable | ||
Nonaccruing | 185 | 187 |
90 Days & still accruing | 0 | 0 |
Retail Consumer Loans | Construction and land/lots | ||
Accounts, Notes, Loans and Financing Receivable | ||
Nonaccruing | 98 | 165 |
90 Days & still accruing | 0 | 0 |
Commercial Loans | Commercial real estate | ||
Accounts, Notes, Loans and Financing Receivable | ||
Nonaccruing | 2,104 | 2,863 |
90 Days & still accruing | 0 | 0 |
Commercial Loans | Construction and development loans | ||
Accounts, Notes, Loans and Financing Receivable | ||
Nonaccruing | 1,696 | 2,045 |
90 Days & still accruing | 0 | 0 |
Commercial Loans | Commercial and industrial | ||
Accounts, Notes, Loans and Financing Receivable | ||
Nonaccruing | 90 | 114 |
90 Days & still accruing | 0 | 0 |
Commercial Loans | Municipal leases | ||
Accounts, Notes, Loans and Financing Receivable | ||
Nonaccruing | 0 | 0 |
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 | Dec. 31, 2018 | Jun. 30, 2018 |
Performing financing receivable | ||
Financing Receivable, Modifications | ||
Performing TDRs included in impaired loans | $ 19,276 | $ 21,251 |
Loans - Schedule of Allowance f
Loans - Schedule of Allowance for Credit Losses on Financing Receivables Table (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | |
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Balance at beginning of period | $ 20,932 | $ 21,997 | $ 21,060 | $ 21,151 |
Provision for (recovery of) loan losses | 0 | 0 | 0 | 0 |
Charge-offs | (255) | (1,072) | (673) | (1,236) |
Recoveries | 742 | 165 | 1,032 | 1,175 |
Balance at end of period | 21,419 | 21,090 | 21,419 | 21,090 |
Retail Consumer Loans | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Balance at beginning of period | 7,252 | 8,310 | 7,527 | 8,585 |
Provision for (recovery of) loan losses | (341) | 162 | (406) | (250) |
Charge-offs | (177) | (378) | (592) | (528) |
Recoveries | 502 | 97 | 707 | 384 |
Balance at end of period | 7,236 | 8,191 | 7,236 | 8,191 |
Commercial Loans | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Balance at beginning of period | 13,385 | 12,490 | 13,050 | 11,839 |
Provision for (recovery of) loan losses | 437 | 124 | 690 | 66 |
Charge-offs | (78) | (349) | (81) | (363) |
Recoveries | 240 | 68 | 325 | 791 |
Balance at end of period | 13,984 | 12,333 | 13,984 | 12,333 |
Purchased Credit Impaired (PCI) Loans | ||||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | ||||
Balance at beginning of period | 295 | 1,197 | 483 | 727 |
Provision for (recovery of) loan losses | (96) | (286) | (284) | 184 |
Charge-offs | 0 | 345 | 0 | (345) |
Recoveries | 0 | 0 | 0 | 0 |
Balance at end of period | $ 199 | $ 566 | $ 199 | $ 566 |
Loans - Schedule of Ending Bala
Loans - Schedule of Ending Balances of Loans and the Related Allowance by Segment and Class (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance for loan losses, PCI | $ 21,419 | $ 20,932 | $ 21,060 | $ 21,090 | $ 21,997 | $ 21,151 |
Allowance for loan losses, Loans individually evaluated for impairment | 138 | 197 | ||||
Allowance for loan losses, Loans collectively evaluated | 21,082 | 20,380 | ||||
Allowance for loan losses, Total | 21,419 | 21,060 | ||||
Total loans receivable, PCI | 2,614,683 | 2,505,712 | ||||
Total loans receivable, Loans individually evaluated for impairment | 10,865 | 13,884 | ||||
Total loans receivable, Loans collectively evaluated | 2,603,818 | 2,491,828 | ||||
Total loans | 2,632,730 | 2,526,616 | ||||
Purchased Credit Impaired (PCI) Loans | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance for loan losses, PCI | 199 | 295 | 483 | 566 | 1,197 | 727 |
Total loans receivable, PCI | 18,047 | 20,904 | ||||
Retail Consumer Loans | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance for loan losses, PCI | 7,236 | 7,252 | 7,527 | 8,191 | 8,310 | 8,585 |
Total loans | 1,193,918 | 1,219,204 | ||||
Retail Consumer Loans | One to four family loans | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance for loan losses, Loans individually evaluated for impairment | 104 | 125 | ||||
Allowance for loan losses, Loans collectively evaluated | 2,926 | 3,137 | ||||
Allowance for loan losses, Total | 3,091 | 3,360 | ||||
Total loans receivable, PCI | 655,084 | 657,472 | ||||
Total loans receivable, Loans individually evaluated for impairment | 6,126 | 7,104 | ||||
Total loans receivable, Loans collectively evaluated | 648,958 | 650,368 | ||||
Total loans | 661,374 | 664,289 | ||||
Retail Consumer Loans | One to four family loans | Purchased Credit Impaired (PCI) Loans | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance for loan losses, PCI | 61 | 98 | ||||
Total loans receivable, PCI | 6,290 | 6,817 | ||||
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 | 1,073 | 1,126 | ||||
Allowance for loan losses, Total | 1,073 | 1,126 | ||||
Total loans receivable, PCI | 170,516 | 173,095 | ||||
Total loans receivable, Loans individually evaluated for impairment | 1 | 0 | ||||
Total loans receivable, Loans collectively evaluated | 170,515 | 173,095 | ||||
Total loans | 170,516 | 173,095 | ||||
Retail Consumer Loans | Indirect auto finance | Purchased Credit Impaired (PCI) Loans | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance for loan losses, PCI | 0 | 0 | ||||
Total loans receivable, PCI | 0 | 0 | ||||
Retail Consumer Loans | Consumer loans | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance for loan losses, Loans individually evaluated for impairment | 8 | 11 | ||||
Allowance for loan losses, Loans collectively evaluated | 157 | 57 | ||||
Allowance for loan losses, Total | 165 | 68 | ||||
Total loans receivable, PCI | 13,520 | 12,379 | ||||
Total loans receivable, Loans individually evaluated for impairment | 8 | 11 | ||||
Total loans receivable, Loans collectively evaluated | 13,512 | 12,368 | ||||
Total loans | 13,520 | 12,379 | ||||
Retail Consumer Loans | Consumer loans | Purchased Credit Impaired (PCI) Loans | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance for loan losses, PCI | 0 | 0 | ||||
Total loans receivable, PCI | 0 | 0 | ||||
Retail Consumer Loans | HELOCs - originated | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance for loan losses, Loans individually evaluated for impairment | 6 | 6 | ||||
Allowance for loan losses, Loans collectively evaluated | 1,129 | 1,117 | ||||
Allowance for loan losses, Total | 1,135 | 1,123 | ||||
Total loans receivable, PCI | 135,205 | 137,340 | ||||
Total loans receivable, Loans individually evaluated for impairment | 6 | 452 | ||||
Total loans receivable, Loans collectively evaluated | 135,199 | 136,888 | ||||
Total loans | 135,430 | 137,564 | ||||
Retail Consumer Loans | HELOCs - originated | Purchased Credit Impaired (PCI) Loans | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance for loan losses, PCI | 0 | 0 | ||||
Total loans receivable, PCI | 225 | 224 | ||||
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 | 655 | 795 | ||||
Allowance for loan losses, Total | 655 | 795 | ||||
Total loans receivable, PCI | 138,571 | 166,276 | ||||
Total loans receivable, Loans individually evaluated for impairment | 0 | 0 | ||||
Total loans receivable, Loans collectively evaluated | 138,571 | 166,276 | ||||
Total loans | 138,571 | 166,276 | ||||
Retail Consumer Loans | HELOCs - purchased | Purchased Credit Impaired (PCI) Loans | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance for loan losses, PCI | 0 | 0 | ||||
Total loans receivable, PCI | 0 | 0 | ||||
Retail Consumer Loans | Construction and land/lots | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance for loan losses, Loans individually evaluated for impairment | 0 | 19 | ||||
Allowance for loan losses, Loans collectively evaluated | 1,178 | 1,134 | ||||
Allowance for loan losses, Total | 1,178 | 1,153 | ||||
Total loans receivable, PCI | 74,116 | 65,157 | ||||
Total loans receivable, Loans individually evaluated for impairment | 333 | 583 | ||||
Total loans receivable, Loans collectively evaluated | 73,783 | 64,574 | ||||
Total loans | 74,507 | 65,601 | ||||
Retail Consumer Loans | Construction and land/lots | Purchased Credit Impaired (PCI) Loans | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance for loan losses, PCI | 0 | 0 | ||||
Total loans receivable, PCI | 391 | 444 | ||||
Commercial Loans | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance for loan losses, PCI | 13,984 | $ 13,385 | 13,050 | $ 12,333 | $ 12,490 | $ 11,839 |
Total loans | 1,438,812 | 1,307,412 | ||||
Commercial Loans | Commercial real estate | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance for loan losses, Loans individually evaluated for impairment | 12 | 28 | ||||
Allowance for loan losses, Loans collectively evaluated | 8,157 | 8,029 | ||||
Allowance for loan losses, Total | 8,287 | 8,195 | ||||
Total loans receivable, PCI | 896,381 | 848,076 | ||||
Total loans receivable, Loans individually evaluated for impairment | 2,860 | 3,511 | ||||
Total loans receivable, Loans collectively evaluated | 893,521 | 844,565 | ||||
Total loans | 904,357 | 857,315 | ||||
Commercial Loans | Commercial real estate | Purchased Credit Impaired (PCI) Loans | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance for loan losses, PCI | 118 | 138 | ||||
Total loans receivable, PCI | 7,976 | 9,239 | ||||
Commercial Loans | Construction and development loans | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance for loan losses, Loans individually evaluated for impairment | 6 | 8 | ||||
Allowance for loan losses, Loans collectively evaluated | 3,107 | 3,109 | ||||
Allowance for loan losses, Total | 3,117 | 3,346 | ||||
Total loans receivable, PCI | 197,367 | 189,875 | ||||
Total loans receivable, Loans individually evaluated for impairment | 1,529 | 2,223 | ||||
Total loans receivable, Loans collectively evaluated | 195,838 | 187,652 | ||||
Total loans | 198,738 | 192,102 | ||||
Commercial Loans | Construction and development loans | Purchased Credit Impaired (PCI) Loans | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance for loan losses, PCI | 4 | 229 | ||||
Total loans receivable, PCI | 1,371 | 2,227 | ||||
Commercial Loans | Commercial and industrial | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance for loan losses, Loans individually evaluated for impairment | 2 | 0 | ||||
Allowance for loan losses, Loans collectively evaluated | 2,254 | 1,458 | ||||
Allowance for loan losses, Total | 2,272 | 1,476 | ||||
Total loans receivable, PCI | 222,788 | 146,870 | ||||
Total loans receivable, Loans individually evaluated for impairment | 2 | 0 | ||||
Total loans receivable, Loans collectively evaluated | 222,786 | 146,870 | ||||
Total loans | 224,582 | 148,823 | ||||
Commercial Loans | Commercial and industrial | Purchased Credit Impaired (PCI) Loans | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Allowance for loan losses, PCI | 16 | 18 | ||||
Total loans receivable, PCI | 1,794 | 1,953 | ||||
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 | 446 | 418 | ||||
Allowance for loan losses, Total | 446 | 418 | ||||
Total loans receivable, PCI | 111,135 | 109,172 | ||||
Total loans receivable, Loans individually evaluated for impairment | 0 | 0 | ||||
Total loans receivable, Loans collectively evaluated | 111,135 | 109,172 | ||||
Total loans | 111,135 | 109,172 | ||||
Commercial Loans | Municipal leases | Purchased Credit Impaired (PCI) Loans | ||||||
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 | Dec. 31, 2018 | Jun. 30, 2018 |
Financing Receivable, Impaired | ||
Unpaid principal balance | $ 37,450 | $ 42,677 |
Recorded investment with a recorded allowance | 19,640 | 22,209 |
Recorded investment with no recorded allowance | 8,200 | 9,152 |
Total | 27,840 | 31,361 |
Related recorded allowance | 694 | 687 |
Impaired loans not individually evaluated | 16,975 | 19,926 |
Recorded allowance of impaired loans not individually evaluated | 556 | 490 |
Retail Consumer Loans | One to four family loans | ||
Financing Receivable, Impaired | ||
Unpaid principal balance | 20,221 | 23,295 |
Recorded investment with a recorded allowance | 14,855 | 16,035 |
Recorded investment with no recorded allowance | 2,472 | 4,140 |
Total | 17,327 | 20,175 |
Related recorded allowance | 565 | 554 |
Retail Consumer Loans | HELOCs - originated | ||
Financing Receivable, Impaired | ||
Unpaid principal balance | 1,614 | 2,544 |
Recorded investment with a recorded allowance | 845 | 1,017 |
Recorded investment with no recorded allowance | 120 | 737 |
Total | 965 | 1,754 |
Related recorded allowance | 9 | 9 |
Retail Consumer Loans | HELOCs - purchased | ||
Financing Receivable, Impaired | ||
Unpaid principal balance | 185 | 187 |
Recorded investment with a recorded allowance | 0 | 0 |
Recorded investment with no recorded allowance | 185 | 187 |
Total | 185 | 187 |
Related recorded allowance | 0 | 0 |
Retail Consumer Loans | Construction and land/lots | ||
Financing Receivable, Impaired | ||
Unpaid principal balance | 2,200 | 2,348 |
Recorded investment with a recorded allowance | 976 | 1,098 |
Recorded investment with no recorded allowance | 432 | 446 |
Total | 1,408 | 1,544 |
Related recorded allowance | 27 | 53 |
Retail Consumer Loans | Indirect auto finance | ||
Financing Receivable, Impaired | ||
Unpaid principal balance | 407 | 395 |
Recorded investment with a recorded allowance | 173 | 122 |
Recorded investment with no recorded allowance | 100 | 133 |
Total | 273 | 255 |
Related recorded allowance | 3 | 1 |
Retail Consumer Loans | Consumer loans | ||
Financing Receivable, Impaired | ||
Unpaid principal balance | 2,185 | 501 |
Recorded investment with a recorded allowance | 441 | 12 |
Recorded investment with no recorded allowance | 1,241 | 46 |
Total | 1,682 | 58 |
Related recorded allowance | 57 | 11 |
Commercial Loans | Commercial real estate | ||
Financing Receivable, Impaired | ||
Unpaid principal balance | 4,418 | 5,343 |
Recorded investment with a recorded allowance | 1,375 | 2,862 |
Recorded investment with no recorded allowance | 2,741 | 2,246 |
Total | 4,116 | 5,108 |
Related recorded allowance | 22 | 42 |
Commercial Loans | Construction and development loans | ||
Financing Receivable, Impaired | ||
Unpaid principal balance | 2,869 | 3,166 |
Recorded investment with a recorded allowance | 788 | 828 |
Recorded investment with no recorded allowance | 908 | 1,217 |
Total | 1,696 | 2,045 |
Related recorded allowance | 8 | 14 |
Commercial Loans | Commercial and industrial | ||
Financing Receivable, Impaired | ||
Unpaid principal balance | 3,351 | 4,898 |
Recorded investment with a recorded allowance | 187 | 235 |
Recorded investment with no recorded allowance | 1 | 0 |
Total | 188 | 235 |
Related recorded allowance | 3 | 3 |
Commercial Loans | Municipal leases | ||
Financing Receivable, Impaired | ||
Unpaid principal balance | 0 | 0 |
Recorded investment with a recorded allowance | 0 | 0 |
Recorded investment with no recorded allowance | 0 | 0 |
Total | 0 | 0 |
Related recorded allowance | $ 0 | $ 0 |
Loans - Schedule of Average Rec
Loans - Schedule of Average Recorded Investment in Loans, Interest Income Recognized (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | |
Financing Receivable, Impaired | ||||
Average recorded investment | $ 28,663 | $ 41,295 | $ 29,544 | $ 41,850 |
Interest income recognized | 287 | 492 | 792 | 978 |
Retail Consumer Loans | One to four family loans | ||||
Financing Receivable, Impaired | ||||
Average recorded investment | 17,856 | 24,519 | 18,568 | 24,721 |
Interest income recognized | 175 | 287 | 467 | 585 |
Retail Consumer Loans | Indirect auto finance | ||||
Financing Receivable, Impaired | ||||
Average recorded investment | 335 | 232 | 331 | 155 |
Interest income recognized | 2 | 3 | 6 | 9 |
Retail Consumer Loans | Consumer loans | ||||
Financing Receivable, Impaired | ||||
Average recorded investment | 1,618 | 33 | 1,212 | 36 |
Interest income recognized | 16 | 4 | 45 | 8 |
Retail Consumer Loans | HELOCs - originated | ||||
Financing Receivable, Impaired | ||||
Average recorded investment | 924 | 2,750 | 1,121 | 2,767 |
Interest income recognized | 13 | 31 | 35 | 61 |
Retail Consumer Loans | HELOCs - purchased | ||||
Financing Receivable, Impaired | ||||
Average recorded investment | 186 | 191 | 186 | 191 |
Interest income recognized | 3 | 3 | 7 | 7 |
Retail Consumer Loans | Construction and land/lots | ||||
Financing Receivable, Impaired | ||||
Average recorded investment | 1,525 | 1,588 | 1,559 | 1,651 |
Interest income recognized | 21 | 27 | 55 | 56 |
Commercial Loans | Commercial real estate | ||||
Financing Receivable, Impaired | ||||
Average recorded investment | 4,257 | 7,184 | 4,506 | 7,425 |
Interest income recognized | 34 | 77 | 121 | 152 |
Commercial Loans | Construction and development loans | ||||
Financing Receivable, Impaired | ||||
Average recorded investment | 1,766 | 2,973 | 1,853 | 2,862 |
Interest income recognized | 15 | 31 | 31 | 52 |
Commercial Loans | Commercial and industrial | ||||
Financing Receivable, Impaired | ||||
Average recorded investment | 196 | 1,723 | 208 | 1,841 |
Interest income recognized | 8 | 23 | 25 | 42 |
Commercial Loans | Municipal leases | ||||
Financing Receivable, Impaired | ||||
Average recorded investment | 0 | 102 | 0 | 201 |
Interest income recognized | $ 0 | $ 6 | $ 0 | $ 6 |
Loans - Schedule of Changes in
Loans - Schedule of Changes in Accretable Yield for Purchased Impaired Loans (Details) - Purchased Credit Impaired (PCI) Loans - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | |
Changes in Accretable Yield [Roll Forward] | ||||
Accretable yield, beginning of period | $ 5,452 | $ 6,698 | $ 5,734 | $ 7,080 |
Reclass from nonaccretable yield | 414 | 77 | 424 | 278 |
Other changes, net | 198 | 80 | 335 | 107 |
Interest income | (832) | (634) | (1,261) | (1,244) |
Accretable yield, end of period | $ 5,232 | $ 6,221 | $ 5,232 | $ 6,221 |
Loans - Schedule of Debt Restru
Loans - Schedule of Debt Restructurings on Financing Receivables (Details) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Dec. 31, 2018USD ($)loan | Dec. 31, 2017USD ($)loan | Dec. 31, 2018USD ($)loan | Dec. 31, 2017USD ($)loan | |
Financing Receivable, Modifications | ||||
Number of loans | loan | 7 | 12 | 13 | 21 |
Pre-modification outstanding recorded investment | $ 524 | $ 694 | $ 803 | $ 2,010 |
Post-modification outstanding recorded investment | $ 523 | $ 672 | $ 795 | $ 1,977 |
Interest Rate Below Market Reduction | ||||
Financing Receivable, Modifications | ||||
Number of loans | loan | 1 | 5 | ||
Pre-modification outstanding recorded investment | $ 85 | $ 498 | ||
Post-modification outstanding recorded investment | $ 85 | $ 490 | ||
Other TDR | ||||
Financing Receivable, Modifications | ||||
Number of loans | loan | 12 | 16 | ||
Pre-modification outstanding recorded investment | $ 718 | $ 1,512 | ||
Post-modification outstanding recorded investment | $ 710 | $ 1,487 | ||
Retail Consumer Loans | Interest Rate Below Market Reduction | ||||
Financing Receivable, Modifications | ||||
Number of loans | loan | 1 | 5 | ||
Pre-modification outstanding recorded investment | $ 85 | $ 498 | ||
Post-modification outstanding recorded investment | $ 85 | $ 490 | ||
Retail Consumer Loans | Interest Rate Below Market Reduction | One to four family loans | ||||
Financing Receivable, Modifications | ||||
Number of loans | loan | 1 | 3 | 1 | 3 |
Pre-modification outstanding recorded investment | $ 85 | $ 398 | $ 85 | $ 398 |
Post-modification outstanding recorded investment | $ 85 | $ 395 | $ 85 | $ 395 |
Retail Consumer Loans | Interest Rate Below Market Reduction | HELOCs - originated | ||||
Financing Receivable, Modifications | ||||
Number of loans | loan | 0 | 1 | ||
Pre-modification outstanding recorded investment | $ 0 | $ 64 | ||
Post-modification outstanding recorded investment | $ 0 | $ 59 | ||
Retail Consumer Loans | Interest Rate Below Market Reduction | Construction and land/lots | ||||
Financing Receivable, Modifications | ||||
Number of loans | loan | 0 | 1 | 0 | 1 |
Pre-modification outstanding recorded investment | $ 0 | $ 36 | $ 0 | $ 36 |
Post-modification outstanding recorded investment | $ 0 | $ 36 | $ 0 | $ 36 |
Retail Consumer Loans | Other TDR | ||||
Financing Receivable, Modifications | ||||
Number of loans | loan | 6 | 7 | ||
Pre-modification outstanding recorded investment | $ 439 | $ 196 | ||
Post-modification outstanding recorded investment | $ 438 | $ 182 | ||
Retail Consumer Loans | Other TDR | One to four family loans | ||||
Financing Receivable, Modifications | ||||
Number of loans | loan | 5 | 6 | 9 | 15 |
Pre-modification outstanding recorded investment | $ 354 | $ 177 | $ 598 | $ 1,493 |
Post-modification outstanding recorded investment | $ 353 | $ 176 | $ 593 | $ 1,481 |
Retail Consumer Loans | Other TDR | Indirect Auto Finance | ||||
Financing Receivable, Modifications | ||||
Number of loans | loan | 0 | 1 | 1 | 1 |
Pre-modification outstanding recorded investment | $ 0 | $ 19 | $ 33 | $ 19 |
Post-modification outstanding recorded investment | $ 0 | $ 6 | $ 30 | $ 6 |
Retail Consumer Loans | Other TDR | Consumer loans | ||||
Financing Receivable, Modifications | ||||
Number of loans | loan | 1 | 0 | 2 | 0 |
Pre-modification outstanding recorded investment | $ 85 | $ 0 | $ 87 | $ 0 |
Post-modification outstanding recorded investment | $ 85 | $ 0 | $ 87 | $ 0 |
Loans - Schedule of Troubled _2
Loans - Schedule of Troubled Debt Restructurings With Payment Default (Details) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Dec. 31, 2018USD ($)loan | Dec. 31, 2017USD ($)loan | Dec. 31, 2018USD ($)loan | Dec. 31, 2017USD ($)loan | |
Financing Receivable, Modifications | ||||
Number of loans | loan | 3 | 5 | 3 | 5 |
Recorded investment | $ | $ 167 | $ 536 | $ 167 | $ 536 |
Interest Rate Below Market Reduction | ||||
Financing Receivable, Modifications | ||||
Number of loans | loan | 0 | 1 | 0 | 1 |
Recorded investment | $ | $ 0 | $ 37 | $ 0 | $ 37 |
Other TDR | ||||
Financing Receivable, Modifications | ||||
Number of loans | loan | 3 | 4 | 3 | 4 |
Recorded investment | $ | $ 167 | $ 499 | $ 167 | $ 499 |
Retail Consumer Loans | Interest Rate Below Market Reduction | One to four family loans | ||||
Financing Receivable, Modifications | ||||
Number of loans | loan | 0 | 1 | 0 | 1 |
Recorded investment | $ | $ 0 | $ 37 | $ 0 | $ 37 |
Retail Consumer Loans | Other TDR | Indirect Auto Finance | ||||
Financing Receivable, Modifications | ||||
Number of loans | loan | 0 | 1 | 0 | 1 |
Recorded investment | $ | $ 0 | $ 6 | $ 0 | $ 6 |
Retail Consumer Loans | Other TDR | Consumer loans | ||||
Financing Receivable, Modifications | ||||
Number of loans | loan | 1 | 0 | 1 | 0 |
Recorded investment | $ | $ 2 | $ 0 | $ 2 | $ 0 |
Retail Consumer Loans | Other TDR | One to four family loans | ||||
Financing Receivable, Modifications | ||||
Number of loans | loan | 2 | 3 | 2 | 3 |
Recorded investment | $ | $ 165 | $ 493 | $ 165 | $ 493 |
Real Estate Owned (Details)
Real Estate Owned (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Jun. 30, 2018 | |
Real Estate Properties [Line Items] | |||||
Balance at beginning of period | $ 3,286 | $ 5,941 | $ 3,684 | $ 6,318 | |
Transfers from loans | 22 | 339 | 96 | 591 | |
Real Estate Owned, Cost Of Sales | 230 | 1,111 | 574 | 1,758 | |
Real Estate Owned, Valuation Allowance, Provision | 123 | 351 | 251 | 351 | |
Real estate owned, capital improvements | 0 | 0 | 0 | 18 | |
Balance at end of period | 2,955 | $ 4,818 | 2,955 | $ 4,818 | |
Consumer loans | Retail Consumer Loans | |||||
Real Estate Properties [Line Items] | |||||
Balance at beginning of period | 998 | ||||
Balance at end of period | 557 | 557 | |||
Residential real estate in the process of foreclosure | $ 980 | $ 980 | $ 395 |
Income Taxes - Schedule of Comp
Income Taxes - Schedule of Components of Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | |
Current: | ||||
Federal | $ (167) | $ 92 | $ 210 | $ 230 |
State | 304 | (3) | 429 | 8 |
Total current expense | 137 | 89 | 639 | 238 |
Deferred: | ||||
Federal | 2,129 | 1,611 | 3,700 | 3,681 |
State | 21 | 115 | 160 | 406 |
Adjustment due to the Tax Cuts and Jobs Act | 0 | 17,693 | 0 | 17,693 |
Total deferred tax expense (benefit) | 2,150 | 19,419 | 3,860 | 21,780 |
Total income tax expense | $ 2,287 | $ 19,508 | $ 4,499 | $ 22,018 |
Income Taxes - Schedule of Effe
Income Taxes - Schedule of Effective Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Jun. 30, 2018 | |
Income Tax Disclosure [Abstract] | ||||||
Tax at federal income tax rate | $ 2,169 | $ 2,432 | $ 4,269 | $ 4,653 | ||
Tax at federal income tax rate, Rate (as a percent) | 21.00% | 28.00% | 34.00% | 21.00% | 28.00% | 27.50% |
Tax exempt income | $ (210) | $ (264) | $ (437) | $ (541) | ||
Tax exempt income, Rate (as a percent) | (2.00%) | (3.00%) | (2.00%) | (3.00%) | ||
Nondeductible merger expenses | $ 0 | $ 1 | $ 0 | $ 1 | ||
Nondeductible merger expenses (as a percent) | (0.00%) | (0.00%) | (0.00%) | (0.00%) | ||
Change in valuation allowance for deferred tax assets, allocated to income tax expense | $ 0 | $ (49) | $ 0 | $ (184) | ||
Change in valuation allowance for deferred tax assets, allocated to income tax expense, Rate (as a percent) | 0.00% | (1.00%) | 0.00% | (1.00%) | ||
State tax amount, net of federal benefit | $ 256 | $ 81 | $ 465 | $ 204 | ||
State tax rate, net of federal benefit | 2.00% | 1.00% | 2.00% | 1.00% | ||
Change in deferred tax assets due to North Carolina corporate tax rate decrease, net of federal benefit | $ 0 | $ 0 | $ 0 | $ 133 | ||
Change in deferred tax assets due to North Carolina corporate tax rate decrease, net of federal benefit (as a percent) | 0.00% | 0.00% | 0.00% | 1.00% | ||
Change in deferred tax assets due to the Tax Cuts and Jobs Act | $ 0 | $ 17,693 | $ 0 | $ 17,693 | ||
Change in deferred tax assets due to the Tax Cuts and Jobs Act (as a percent) | 0.00% | 200.00% | 0.00% | 105.00% | ||
Adjustment for prior quarter expense due to accrual at higher rate | $ 0 | $ (418) | $ 0 | $ 0 | ||
Adjustment for prior quarter expense due to accrual at higher rate (as a percent) | (0.00%) | (5.00%) | (0.00%) | (0.00%) | ||
Other | $ 72 | $ 32 | $ 202 | $ 59 | ||
Other Income Tax Expense Benefit Rate Continuing Operations | 1.00% | 0.00% | 1.00% | 0.00% | ||
Income Tax Expense (Benefit), Continuing Operations | $ 2,287 | $ 19,508 | $ 4,499 | $ 22,018 | ||
Income Tax Rate Expense Benefit Rate Continuing Operations | 22.00% | 220.00% | 22.00% | 131.00% |
Income Taxes - Narrative (Detai
Income Taxes - Narrative (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Jun. 30, 2018 | |
Income Tax Disclosure [Abstract] | ||||||
Tax at federal income tax rate, Rate (as a percent) | 21.00% | 28.00% | 34.00% | 21.00% | 28.00% | 27.50% |
Tax Cuts and Jobs Act of 2017, change in tax rate, income tax benefit | $ 418 | |||||
Adjustment due to the Tax Cuts and Jobs Act | $ 0 | $ 17,693 | $ 0 | $ 17,693 | ||
Net operating loss carry forwards | 26,805 | 26,805 | $ 40,780 | |||
Recorded tax benefit | 5,538 | 5,538 | 8,635 | |||
Deferred tax assets, valuation allowance | (325) | (325) | (325) | |||
Amount in retained earnings for bad debt reserve with no deferred tax liability | $ 19,570 | $ 19,570 | $ 19,570 |
Income Taxes - Schedule of Defe
Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Jun. 30, 2018 |
Deferred tax assets: | ||
Alternative minimum tax credit | $ 4,920 | $ 4,920 |
Deferred tax asset allowance for loan losses | 4,720 | 4,637 |
Deferred compensation and post-retirement benefits | 9,186 | 9,400 |
Accrued vacation and sick leave | 18 | 18 |
Impairments on real estate owned | 498 | 495 |
Deferred Tax Assets Other Than Temporary Impairment on Investments | 2,253 | 2,254 |
Net operating loss carryforward | 5,538 | 8,635 |
Deferred tax asset discount from business combination | 2,500 | 2,605 |
Deferred Tax Assets, Tax Deferred Expense, Unrealized Loss On Securities Held for Sale | 306 | 477 |
Stock compensation plans | 2,014 | 2,271 |
Other | 1,195 | 1,562 |
Total gross deferred tax assets | 33,148 | 37,274 |
Less valuation allowance | (325) | (325) |
Deferred tax assets | 32,823 | 36,949 |
Deferred tax (liabilities): | ||
Deferred tax liabilities depreciable basis of fixed assets | 532 | 566 |
Deferred tax liabilities deferred loan fees | 486 | 453 |
Deferred tax liabilities Federal Home Loan Bank Stock, book basis in excess of tax | 89 | 89 |
Other | (3,183) | (3,276) |
Total gross deferred tax liabilities | (4,290) | (4,384) |
Net deferred tax assets | $ 28,533 | $ 32,565 |
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 | 6 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | |
Numerator: | ||||
Net loss | $ 8,041 | $ (10,666) | $ 15,831 | $ (5,099) |
Allocation of earnings to participating securities | (57) | 0 | (112) | 0 |
Numerator for basic EPS - Net income available (loss attributable) to common stockholders | 7,984 | (10,666) | 15,719 | (5,099) |
Dilutive effect to participating securities | 2 | 0 | 4 | 0 |
Numerator for diluted EPS | $ 7,986 | $ (10,666) | $ 15,723 | $ (5,099) |
Denominator: | ||||
Weighted-average common shares outstanding - basic | 17,797,553 | 17,975,883 | 17,961,465 | 17,971,439 |
Effect of dilutive shares | 699,781 | 0 | 728,119 | 0 |
Weighted-average common shares outstanding - diluted | 18,497,334 | 17,975,883 | 18,689,584 | 17,971,439 |
Net income per share - basic (in dollars per share) | $ 0.45 | $ (0.59) | $ 0.88 | $ (0.28) |
Net income per share - diluted (in dollars per share) | $ 0.43 | $ (0.59) | $ 0.84 | $ (0.28) |
Net Income per Share - Antidilu
Net Income per Share - Antidilutive Stock Options (Details) - shares | 3 Months Ended | 6 Months Ended |
Dec. 31, 2018 | Dec. 31, 2018 | |
Earnings Per Share [Abstract] | ||
Antidilutive securities excluded from computation of earnings per share (in shares) | 420,300 | 420,300 |
Equity Incentive Plan - Narrati
Equity Incentive Plan - Narrative (Details) - USD ($) | Jan. 17, 2013 | Dec. 31, 2018 | Dec. 31, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2013 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Equity incentive plan name | 2013 Omnibus Incentive Plan | |||||
Shares repurchased (in shares) | 846,400 | |||||
Shares repurchased, amount | $ 13,297,000 | |||||
Average price of shares purchased (in usd per share) | $ 15.71 | |||||
Nonvested, number of shares (in shares) | 486,100 | 411,500 | ||||
Remaining contractual life (years) | 5 years 4 months 12 days | 5 years 4 months 24 days | 5 years 10 months 18 days | 5 years 9 months 18 days | ||
Options outstanding (in shares) | 411,500 | |||||
Stock Options | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Compensation cost not yet recognized | $ 2,385,000 | $ 835,000 | ||||
Compensation cost not yet recognized, period for recognition (in years) | 1 year 9 months 18 days | 8 months | ||||
Stock Options | Minimum | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Remaining contractual life (years) | 5 years | 5 years | ||||
Stock Options | Maximum | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Remaining contractual life (years) | 7 years | 7 years | ||||
Restricted Stock | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Compensation cost not yet recognized, period for recognition (in years) | 1 year 7 months | 1 year 1 month | ||||
Compensation not yet recognized, share-based awards other than options | $ 2,129,000 | $ 1,671,000 | ||||
Non-vested (in shares) | 127,910 | 180,630 | 133,410 | 185,630 | ||
Restricted Stock | Minimum | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Vesting period | 5 years | 5 years | ||||
Restricted Stock | Maximum | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Vesting period | 7 years | 7 years | ||||
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 |
Equity Incentive Plan Equity In
Equity Incentive Plan Equity Incentive Plan - Share Based Compensation Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||||
Share-based compensation expense | $ 372 | $ 841 | $ 756 | $ 2,014 |
Share-based compensation expense, tax related benefit | $ 78 | $ 235 | $ 192 | $ 564 |
Equity Incentive Plan - Stock O
Equity Incentive Plan - Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands | 6 Months Ended | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Options | ||||
Options Outstanding, Beginning of Period (in shares) | 1,718,270 | 1,470,043 | 1,470,043 | |
Exercised (in shares) | 42,200 | 3,900 | ||
Forfeited (in shares) | 4,700 | 24,700 | ||
Expired (in shares) | 43,273 | |||
Options Outstanding, End of period (in shares) | 1,671,370 | 1,398,170 | 1,718,270 | 1,470,043 |
Exercisable (in shares) | 1,185,270 | 986,670 | ||
Weighted- average exercise price | ||||
Options Outstanding, Beginning of Period (in usd per share) | $ 17.29 | $ 15.22 | $ 15.22 | |
Exercised (in usd per share) | 14.42 | 14.37 | ||
Forfeited (in usd per share) | 17.11 | 14.43 | ||
Expired (in usd per share) | 23.82 | |||
Options Outstanding, End of Period (in usd per share) | 17.37 | 14.97 | $ 17.29 | $ 15.22 |
Exercisable (in usd per share) | $ 14.51 | $ 14.43 | ||
Remaining contractual life (years) | 5 years 4 months 12 days | 5 years 4 months 24 days | 5 years 10 months 18 days | 5 years 9 months 18 days |
Aggregate intrinsic value (in usd) | $ 14,732 | $ 15,077 | $ 18,664 | $ 13,533 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term | 4 years 2 months | 5 years 2 months | ||
Aggregate intrinsic value (in usd) | $ 13,832 | $ 11,169 | ||
Non-vested Options | ||||
Nonvested, number of shares (in shares) | 486,100 | 411,500 | ||
Nonvested, weighted average grant date fair value (in dollars per share) | $ 24.33 | $ 16.25 | ||
Nonvested, contractual term (in years) | 8 years 6 months | 6 years | ||
Nonvested, intrinsic value | $ 900 | $ 3,908 |
Equity Incentive Plan - Schedul
Equity Incentive Plan - Schedule of Nonvested Restricted Stock Units Activity (Details) - USD ($) $ / shares in Units, $ in Thousands | 6 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Weighted- average grant date fair value | ||||
Aggregate intrinsic value (in usd) | $ 13,832 | $ 11,169 | ||
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, Grants in Period, Weighted Average Grant Date Fair Value | $ 23.05 | |||
Restricted stock awards | ||||
Non-vested, Beginning Balance (in shares) | 133,410 | 185,630 | ||
Vested (in shares) | 2,800 | 400 | ||
Forfeited (in shares) | 2,700 | 6,600 | ||
Non-vested, Ending Balance (in shares) | 127,910 | 180,630 | ||
Weighted- average grant date fair value | ||||
Non-vested, Beginning Balance (in usd per share) | $ 22.85 | $ 17.46 | ||
Vested (in usd per share) | 16.27 | 19.02 | ||
Forfeitures (in dollars per share) | 16.13 | 14.37 | ||
Non-vested, Ending Balance (in usd per share) | $ 23.14 | $ 17.57 | ||
Aggregate intrinsic value (in usd) | $ 3,349 | $ 4,651 | $ 3,755 | $ 4,780 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 2,000 |
Commitments and Contingencies -
Commitments and Contingencies - Narrative (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Dec. 31, 2018 | Jun. 30, 2018 | |
Other Commitments | ||
Unused commitments to extend credit | $ 60,248 | $ 49,949 |
Variable rate commitments | 17,989 | 19,812 |
Fixed rate commitments | 42,258 | 30,137 |
Remaining borrowing capacity | 488,071 | 491,649 |
Required cash reserve | 1,786 | 2,304 |
Letters of credit outstanding | $ 8,826 | $ 8,227 |
Minimum | ||
Other Commitments | ||
Fixed interest rate (as a percent) | 2.39% | 2.10% |
Loan Commitments Terms | 3 years | |
Maximum | ||
Other Commitments | ||
Fixed interest rate (as a percent) | 7.55% | 6.15% |
Loan Commitments Terms | 30 years | |
Construction and development | ||
Other Commitments | ||
Unused commitments to extend credit | $ 197,728 | $ 209,726 |
Fair Value of Financial Instr_3
Fair Value of Financial Instruments - Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Thousands | Dec. 31, 2018 | Jun. 30, 2018 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets measured at fair value on a non-recurring basis | $ 149,752 | $ 154,993 |
Fair Value, Inputs, Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets measured at fair value on a non-recurring basis | 0 | 0 |
Fair Value, Inputs, Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets measured at fair value on a non-recurring basis | 149,752 | 154,993 |
Fair Value, Inputs, Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets measured at fair value on a non-recurring basis | 0 | 0 |
US Government Agencies | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets measured at fair value on a non-recurring basis | 37,863 | 47,542 |
US Government Agencies | Fair Value, Inputs, Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets measured at fair value on a non-recurring basis | 0 | 0 |
US Government Agencies | Fair Value, Inputs, Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets measured at fair value on a non-recurring basis | 37,863 | 47,542 |
US Government Agencies | Fair Value, Inputs, Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets measured at fair value on a non-recurring basis | 0 | 0 |
Government Agencies and Government Sponsored Enterprises | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets measured at fair value on a non-recurring basis | 76,926 | 70,599 |
Government Agencies and Government Sponsored Enterprises | Fair Value, Inputs, Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets measured at fair value on a non-recurring basis | 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] | ||
Financial assets measured at fair value on a non-recurring basis | 76,926 | 70,599 |
Government Agencies and Government Sponsored Enterprises | Fair Value, Inputs, Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets measured at fair value on a non-recurring basis | 0 | 0 |
Municipal Bonds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets measured at fair value on a non-recurring basis | 29,080 | 30,766 |
Municipal Bonds | Fair Value, Inputs, Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets measured at fair value on a non-recurring basis | 0 | 0 |
Municipal Bonds | Fair Value, Inputs, Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets measured at fair value on a non-recurring basis | 29,080 | 30,766 |
Municipal Bonds | Fair Value, Inputs, Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets measured at fair value on a non-recurring basis | 0 | 0 |
Corporate Bonds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets measured at fair value on a non-recurring basis | 5,883 | 6,023 |
Corporate Bonds | Fair Value, Inputs, Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets measured at fair value on a non-recurring basis | 0 | 0 |
Corporate Bonds | Fair Value, Inputs, Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets measured at fair value on a non-recurring basis | 5,883 | 6,023 |
Corporate Bonds | Fair Value, Inputs, Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets measured at fair value on a non-recurring basis | $ 0 | 0 |
Equity Securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets measured at fair value on a non-recurring basis | 63 | |
Equity Securities | Fair Value, Inputs, Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets measured at fair value on a non-recurring basis | 0 | |
Equity Securities | Fair Value, Inputs, Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets measured at fair value on a non-recurring basis | 63 | |
Equity Securities | Fair Value, Inputs, Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets measured at fair value on a non-recurring basis | $ 0 |
Fair Value of Financial Instr_4
Fair Value of Financial Instruments - Schedule of Fair Value Measurements, Nonrecurring (Details) - Fair Value, Measurements, Nonrecurring - USD ($) $ in Thousands | Dec. 31, 2018 | Jun. 30, 2018 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets measured at fair value on a non-recurring basis | $ 5,241 | $ 10,527 |
Impaired loans | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets measured at fair value on a non-recurring basis | 4,155 | 8,423 |
Other real estate owned | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets measured at fair value on a non-recurring basis | 1,086 | 2,104 |
Fair Value, Inputs, Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets measured at fair value on a non-recurring basis | 0 | 0 |
Fair Value, Inputs, Level 1 | Impaired loans | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets measured at fair value on a non-recurring basis | 0 | 0 |
Fair Value, Inputs, Level 1 | Other real estate owned | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets measured at fair value on a non-recurring basis | 0 | 0 |
Fair Value, Inputs, Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets measured at fair value on a non-recurring basis | 0 | 0 |
Fair Value, Inputs, Level 2 | Impaired loans | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets measured at fair value on a non-recurring basis | 0 | 0 |
Fair Value, Inputs, Level 2 | Other real estate owned | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets measured at fair value on a non-recurring basis | 0 | 0 |
Fair Value, Inputs, Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets measured at fair value on a non-recurring basis | 5,241 | 10,527 |
Fair Value, Inputs, Level 3 | Impaired loans | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets measured at fair value on a non-recurring basis | 4,155 | 8,423 |
Fair Value, Inputs, Level 3 | Other real estate owned | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Financial assets measured at fair value on a non-recurring basis | $ 1,086 | $ 2,104 |
Fair Value of Financial Instr_5
Fair Value of Financial Instruments - Schedule of Quantitative Information About Level 3 Fair Value Measurements (Details) - USD ($) $ in Thousands | 6 Months Ended | |
Dec. 31, 2018 | Jun. 30, 2018 | |
Fair Value, Inputs, Level 3 | Nonrecurring measurements | Impaired loans, net | ||
Weighted Average | 2.00% | |
Fair Value, Inputs, Level 3 | Nonrecurring measurements | Other real estate owned | ||
Weighted Average | 10.00% | |
Minimum | Fair Value, Inputs, Level 3 | Nonrecurring measurements | Impaired loans, net | ||
Range | 6.00% | |
Minimum | Fair Value, Inputs, Level 3 | Nonrecurring measurements | Other real estate owned | ||
Range | 8.00% | |
Maximum | Fair Value, Inputs, Level 3 | Nonrecurring measurements | Impaired loans, net | ||
Range | 25.00% | |
Maximum | Fair Value, Inputs, Level 3 | Nonrecurring measurements | Other real estate owned | ||
Range | 15.00% | |
Fair Value, Measurements, Nonrecurring | ||
Fair value at December 31, 2015 | $ 5,241 | $ 10,527 |
Fair Value, Measurements, Nonrecurring | Other real estate owned | ||
Fair value at December 31, 2015 | 1,086 | 2,104 |
Fair Value, Measurements, Nonrecurring | Fair Value, Inputs, Level 3 | ||
Fair value at December 31, 2015 | 5,241 | 10,527 |
Fair Value, Measurements, Nonrecurring | Fair Value, Inputs, Level 3 | Other real estate owned | ||
Fair value at December 31, 2015 | 1,086 | $ 2,104 |
Fair Value, Measurements, Nonrecurring | Fair Value, Inputs, Level 3 | Nonrecurring measurements | Impaired loans, net | ||
Fair value at December 31, 2015 | 4,155 | |
Fair Value, Measurements, Nonrecurring | Fair Value, Inputs, Level 3 | Nonrecurring measurements | Other real estate owned | ||
Fair value at December 31, 2015 | $ 1,086 |
Fair Value of Financial Instr_6
Fair Value of Financial Instruments - Schedule of Fair Value, by Balance Sheet Grouping (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Jun. 30, 2018 |
Fair Value, Inputs, Level 1 | Cash and interest-bearing deposits | ||
Financial Instruments Owned | $ 71,306 | $ 70,746 |
Fair Value, Inputs, Level 1 | Commercial paper | ||
Financial Instruments Owned | 239,286 | 229,070 |
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 | 32,159 | 29,907 |
Fair Value, Inputs, Level 1 | FRB Stock | ||
Financial Instruments Owned | 7,315 | 7,307 |
Fair Value, Inputs, Level 1 | Small Business Investment Company Funds [Member] [Domain] | ||
Financial Instruments Owned | 0 | 0 |
Fair Value, Inputs, Level 1 | Accrued interest receivable | ||
Financial Instruments Owned | 0 | 297 |
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 | 51,936 | 66,937 |
Fair Value, Inputs, Level 2 | Securities available for sale | ||
Financial Instruments Owned | 149,752 | 154,993 |
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 | Small Business Investment Company Funds [Member] [Domain] | ||
Financial Instruments Owned | 0 | 0 |
Fair Value, Inputs, Level 2 | Accrued interest receivable | ||
Financial Instruments Owned | 1,172 | 883 |
Fair Value, Inputs, Level 2 | Noninterest-bearing and NOW deposits | ||
Financial Instruments Owned | 774,111 | 789,186 |
Fair Value, Inputs, Level 2 | Money market accounts | ||
Financial Instruments Owned | 703,445 | 677,665 |
Fair Value, Inputs, Level 2 | Savings accounts | ||
Financial Instruments Owned | 192,954 | 213,250 |
Fair Value, Inputs, Level 2 | Certificates of deposit | ||
Financial Instruments Owned | 582,656 | 509,924 |
Fair Value, Inputs, Level 2 | Other borrowings | ||
Financial Instruments Owned | 686,307 | 635,187 |
Fair Value, Inputs, Level 2 | Accrued interest payable | ||
Financial Instruments Owned | 1,639 | 805 |
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 | 0 | 0 |
Fair Value, Inputs, Level 3 | Loans, net | ||
Financial Instruments Owned | 2,524,963 | 2,414,647 |
Fair Value, Inputs, Level 3 | Loans held for sale | ||
Financial Instruments Owned | 13,604 | 5,990 |
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 | Small Business Investment Company Funds [Member] [Domain] | ||
Financial Instruments Owned | 5,384 | 4,717 |
Fair Value, Inputs, Level 3 | Accrued interest receivable | ||
Financial Instruments Owned | 9,200 | 8,164 |
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 |
Carrying Value | Cash and interest-bearing deposits | ||
Financial Instruments Owned | 71,306 | 70,746 |
Carrying Value | Commercial paper | ||
Financial Instruments Owned | 239,286 | 229,070 |
Carrying Value | Certificates of deposit in other banks | ||
Financial Instruments Owned | 51,936 | 66,937 |
Carrying Value | Securities available for sale | ||
Financial Instruments Owned | 149,752 | 154,993 |
Carrying Value | Loans, net | ||
Financial Instruments Owned | 2,610,812 | 2,504,792 |
Carrying Value | Loans held for sale | ||
Financial Instruments Owned | 13,095 | 5,873 |
Carrying Value | FHLB Stock | ||
Financial Instruments Owned | 32,159 | 29,907 |
Carrying Value | FRB Stock | ||
Financial Instruments Owned | 7,315 | 7,307 |
Carrying Value | Small Business Investment Company Funds [Member] [Domain] | ||
Financial Instruments Owned | 5,384 | 4,717 |
Carrying Value | Accrued interest receivable | ||
Financial Instruments Owned | 10,372 | 9,344 |
Carrying Value | Noninterest-bearing and NOW deposits | ||
Financial Instruments Owned | 774,111 | 789,186 |
Carrying Value | Money market accounts | ||
Financial Instruments Owned | 703,445 | 677,665 |
Carrying Value | Savings accounts | ||
Financial Instruments Owned | 192,954 | 213,250 |
Carrying Value | Certificates of deposit | ||
Financial Instruments Owned | 587,559 | 516,152 |
Carrying Value | Other borrowings | ||
Financial Instruments Owned | 688,000 | 635,000 |
Carrying Value | Accrued interest payable | ||
Financial Instruments Owned | 1,639 | 805 |
Fair Value | Cash and interest-bearing deposits | ||
Financial Instruments Owned | 71,306 | 70,746 |
Fair Value | Commercial paper | ||
Financial Instruments Owned | 239,286 | 229,070 |
Fair Value | Certificates of deposit in other banks | ||
Financial Instruments Owned | 51,936 | 66,937 |
Fair Value | Securities available for sale | ||
Financial Instruments Owned | 149,752 | 154,993 |
Fair Value | Loans, net | ||
Financial Instruments Owned | 2,524,963 | 2,414,647 |
Fair Value | Loans held for sale | ||
Financial Instruments Owned | 13,604 | 5,990 |
Fair Value | FHLB Stock | ||
Financial Instruments Owned | 32,159 | 29,907 |
Fair Value | FRB Stock | ||
Financial Instruments Owned | 7,315 | 7,307 |
Fair Value | Small Business Investment Company Funds [Member] [Domain] | ||
Financial Instruments Owned | 5,384 | 4,717 |
Fair Value | Accrued interest receivable | ||
Financial Instruments Owned | 10,372 | 9,344 |
Fair Value | Noninterest-bearing and NOW deposits | ||
Financial Instruments Owned | 774,111 | 789,186 |
Fair Value | Money market accounts | ||
Financial Instruments Owned | 703,445 | 677,665 |
Fair Value | Savings accounts | ||
Financial Instruments Owned | 192,954 | 213,250 |
Fair Value | Certificates of deposit | ||
Financial Instruments Owned | 582,656 | 509,924 |
Fair Value | Other borrowings | ||
Financial Instruments Owned | 686,307 | 635,187 |
Fair Value | Accrued interest payable | ||
Financial Instruments Owned | $ 1,639 | $ 805 |
Fair Value of Financial Instr_7
Fair Value of Financial Instruments - Narrative (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Jun. 30, 2018 |
Debt Securities, Available-for-sale [Line Items] | ||
Fair Value off-balance sheet risks, amount, liability | $ 746,047 | $ 751,324 |
Revenue (Details)
Revenue (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disaggregation of Revenue [Line Items] | ||||
Offset of interchange costs against interchange income | $ 198 | $ 393 | ||
Noninterest income (in-scope of ASC 606) | $ 2,893,000 | 2,353,000 | $ 5,692,000 | 4,496,000 |
Noninterest income (out-of-scope of ASC 606) | 2,192,000 | 2,106,000 | 5,006,000 | 4,225,000 |
Total noninterest income | 5,085,000 | 4,459,000 | 10,698,000 | 8,721,000 |
Service Charges on Deposit Accounts | ||||
Disaggregation of Revenue [Line Items] | ||||
Noninterest income (in-scope of ASC 606) | 1,042,000 | 942,000 | 2,026,000 | 1,831,000 |
Fees, Interchange, and Other Service Charges | ||||
Disaggregation of Revenue [Line Items] | ||||
Noninterest income (in-scope of ASC 606) | 1,697,000 | 1,144,000 | 3,300,000 | 2,213,000 |
Other Revenues | ||||
Disaggregation of Revenue [Line Items] | ||||
Noninterest income (in-scope of ASC 606) | $ 154,000 | $ 267,000 | $ 366,000 | $ 452,000 |