Document and Entity Information
Document and Entity Information - USD ($) $ in Millions | 12 Months Ended | ||
Jun. 30, 2019 | Sep. 10, 2019 | Dec. 31, 2018 | |
Document and Entity Information: | |||
Entity Registrant Name | HomeTrust Bancshares, Inc. | ||
Entity Central Index Key | 0001538263 | ||
Current Fiscal Year End Date | --06-30 | ||
Entity Filer Category | Accelerated Filer | ||
Document Type | 10-K | ||
Document Period End Date | Jun. 30, 2019 | ||
Document Fiscal Year Focus | 2019 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false | ||
Entity Small Business | false | ||
Entity Emerging Growth Company | false | ||
Entity Shell Company | false | ||
Entity Common Stock, Shares Outstanding | 17,860,045 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Public Float | $ 468 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Jun. 30, 2019 | Jun. 30, 2018 |
Assets | ||
Cash | $ 40,909 | $ 45,222 |
Interest-bearing deposits | 30,134 | 25,524 |
Cash and cash equivalents | 71,043 | 70,746 |
Commercial paper | 241,446 | 229,070 |
Certificates of deposit in other banks | 52,005 | 66,937 |
Securities available for sale, at fair value | 121,786 | 154,993 |
Other investments, at cost | 45,378 | 41,931 |
Loans held for sale | 18,175 | 5,873 |
Total loans, net of deferred loan fees | 2,705,190 | 2,525,852 |
Allowance for loan losses | (21,429) | (21,060) |
Net loans | 2,683,761 | 2,504,792 |
Premises and equipment, net | 61,051 | 62,537 |
Accrued interest receivable | 10,533 | 9,344 |
Real estate owned (REO) | 2,929 | 3,684 |
Deferred income taxes | 26,523 | 32,565 |
Bank owned life insurance (BOLI) | 90,254 | 88,028 |
Goodwill | 25,638 | 25,638 |
Core deposit intangibles | 2,499 | 4,528 |
Other assets | 23,157 | 3,503 |
Total Assets | 3,476,178 | 3,304,169 |
Liabilities | ||
Deposits | 2,327,257 | 2,196,253 |
Borrowings | 680,000 | 635,000 |
Capital lease obligations | 1,880 | 1,914 |
Other liabilities | 58,145 | 61,760 |
Total liabilities | 3,067,282 | 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, 17,984,105 shares issued and outstanding at June 30, 2019; 19,041,668 at June 30, 2018 | 180 | 191 |
Additional paid in capital | 190,315 | 217,480 |
Retained earnings | 224,545 | 200,575 |
Unearned Employee Stock Ownership Plan (ESOP) shares | (6,877) | (7,406) |
Accumulated other comprehensive income (loss) | 733 | (1,598) |
Total stockholders’ equity | 408,896 | 409,242 |
Total Liabilities and Stockholders’ Equity | $ 3,476,178 | $ 3,304,169 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - $ / shares | Jun. 30, 2019 | Jun. 30, 2018 |
Statement of Financial Position [Abstract] | ||
Preferred stock par value (in dollars per share) | $ 0.01 | $ 0.01 |
Preferred stock shares authorized (in shares) | 10,000,000 | 10,000,000 |
Preferred stock shares issued (in shares) | 0 | 0 |
Preferred stock shares outstanding (in shares) | 0 | 0 |
Common stock par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock shares authorized (in shares) | 60,000,000 | 60,000,000 |
Common stock shares issued (in shares) | 17,984,105 | 19,041,668 |
Common stock shares outstanding (in shares) | 17,984,105 | 19,041,668 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2017 | |
Interest and Dividend Income | |||
Loans | $ 121,903 | $ 105,082 | $ 90,069 |
Securities available for sale | 3,443 | 3,668 | 3,983 |
Certificates of deposit and other interest-bearing deposits | 8,278 | 5,939 | 3,725 |
Other investments | 3,635 | 2,713 | 1,659 |
Total interest and dividend income | 137,259 | 117,402 | 99,436 |
Interest Expense | |||
Deposits | 15,757 | 6,758 | 4,588 |
Borrowings | 14,626 | 9,314 | 3,657 |
Total interest expense | 30,383 | 16,072 | 8,245 |
Net Interest Income | 106,876 | 101,330 | 91,191 |
Provision for Loan Losses | 5,700 | 0 | 0 |
Net Interest Income after Provision for Loan Losses | 101,176 | 101,330 | 91,191 |
Noninterest Income | |||
Service charges and fees on deposit accounts | 9,611 | 8,802 | 7,709 |
Loan income and fees | 1,422 | 1,176 | 971 |
Gain on sale of loans held for sale | 6,218 | 4,276 | 2,674 |
BOLI income | 2,103 | 2,117 | 2,088 |
Gain from sale of premises and equipment | 0 | 164 | 385 |
Gain from sales of securities available for sale | 0 | 0 | 22 |
Other, net | 3,541 | 2,437 | 2,258 |
Total noninterest income | 22,895 | 18,972 | 16,107 |
Noninterest Expense | |||
Salaries and employee benefits | 52,291 | 48,170 | 46,446 |
Net occupancy expense | 9,454 | 9,689 | 9,121 |
Computer services | 7,664 | 6,440 | 6,650 |
Telephone, postage, and supplies | 3,040 | 2,958 | 2,732 |
Marketing and advertising | 1,853 | 1,478 | 1,670 |
Deposit insurance premiums | 1,426 | 1,619 | 1,378 |
Loss on sale and impairment of REO | 439 | 127 | 300 |
REO expense | 874 | 1,065 | 1,114 |
Core deposit intangible amortization | 2,029 | 2,645 | 2,823 |
Merger-related expenses | 0 | 0 | 7,805 |
Other | 11,064 | 11,140 | 10,220 |
Total noninterest expense | 90,134 | 85,331 | 90,259 |
Income Before Income Taxes | 33,937 | 34,971 | 17,039 |
Income Tax Expense | 6,791 | 26,736 | 5,192 |
Net Income | $ 27,146 | $ 8,235 | $ 11,847 |
Net income per common share: | |||
Basic (in dollars per share) | $ 1.52 | $ 0.45 | $ 0.66 |
Diluted (in dollars per share) | $ 1.46 | $ 0.44 | $ 0.65 |
Average shares outstanding: | |||
Basic (in shares) | 17,692,493 | 18,028,854 | 17,379,487 |
Diluted (in shares) | 18,393,184 | 18,726,431 | 17,956,443 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2017 | |
Statement of Comprehensive Income [Abstract] | |||
Net Income | $ 27,146 | $ 8,235 | $ 11,847 |
Unrealized holding gains (losses) on securities available for sale | |||
Gains (losses) arising during the period | 3,027 | (2,489) | (3,113) |
Deferred income tax benefit (expense) | (696) | 618 | 1,058 |
Reclassification of securities gains recognized in net income | 0 | 0 | (22) |
Deferred income tax expense | 0 | 0 | 7 |
Total other comprehensive income (loss) | 2,331 | (1,871) | (2,070) |
Comprehensive Income | $ 29,477 | $ 6,364 | $ 9,777 |
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) |
Beginning balance at Jun. 30, 2016 | $ 359,976 | $ 180 | $ 186,104 | $ 179,813 | $ (8,464) | $ 2,343 |
Beginning balance (in shares) at Jun. 30, 2016 | 17,998,750 | |||||
Increase (Decrease) in Stockholders' Equity | ||||||
Net income | $ 11,847 | 11,847 | ||||
Granted restricted stock (in shares) | 47,500 | |||||
Forfeited restricted stock (in shares) | (6,000) | |||||
Retired stock | $ (569) | (569) | ||||
Retired stock (in shares) | (22,794) | |||||
Exercised stock options | 3,068 | $ 3 | 3,065 | |||
Exercised stock options (in shares) | 185,142 | |||||
Shares issued for TriSummit Bancorp, Inc. merger | 20,043 | $ 7 | 20,036 | |||
Shares issued for Jefferson Bancshares, Inc. merger (in shares) | 765,277 | |||||
Stock option expense | 2,627 | 2,627 | ||||
Restricted stock expense | 1,539 | 1,539 | ||||
ESOP shares allocated | 1,186 | 657 | 529 | |||
Other comprehensive loss | (2,070) | (2,070) | ||||
Ending balance at Jun. 30, 2017 | 397,647 | $ 190 | 213,459 | 191,660 | (7,935) | 273 |
Ending balance, shares (in shares) at Jun. 30, 2017 | 18,967,875 | |||||
Increase (Decrease) in Stockholders' Equity | ||||||
Net income | $ 8,235 | 8,235 | ||||
Granted restricted stock (in shares) | 55,200 | |||||
Forfeited restricted stock (in shares) | (6,600) | |||||
Retired stock | $ (494) | (494) | ||||
Retired stock (in shares) | (19,007) | |||||
Exercised stock options | 651 | $ 1 | 650 | |||
Exercised stock options (in shares) | 44,200 | |||||
Stock option expense | 1,758 | 1,758 | ||||
Restricted stock expense | 1,269 | 1,269 | ||||
ESOP shares allocated | 1,367 | 838 | 529 | |||
Other comprehensive loss | (1,871) | (1,871) | ||||
Ending balance at Jun. 30, 2018 | $ 409,242 | $ 191 | 217,480 | 200,575 | (7,406) | (1,598) |
Ending balance, shares (in shares) at Jun. 30, 2018 | 19,041,668 | 19,041,668 | ||||
Increase (Decrease) in Stockholders' Equity | ||||||
Cumulative-effect adjustment on the change in accounting for share-based payments | $ 680 | 680 | ||||
Net income | 27,146 | 27,146 | ||||
Cash dividends declared on common stock, $0.18/common share | (3,176) | (3,176) | ||||
Stock repurchased | $ (30,638) | $ (11) | (30,627) | |||
Stock repurchased (in shares) | (1,149,785) | |||||
Granted restricted stock (in shares) | 23,625 | |||||
Forfeited restricted stock (in shares) | (4,300) | |||||
Retired stock | $ (205) | (205) | ||||
Retired stock (in shares) | (7,414) | |||||
Exercised stock options | 1,173 | $ 0 | 1,173 | |||
Exercised stock options (in shares) | 80,311 | |||||
Stock option expense | 736 | 736 | ||||
Restricted stock expense | 865 | 865 | ||||
ESOP shares allocated | 1,422 | 893 | 529 | |||
Other comprehensive loss | 2,331 | 2,331 | ||||
Ending balance at Jun. 30, 2019 | $ 408,896 | $ 180 | $ 190,315 | $ 224,545 | $ (6,877) | $ 733 |
Ending balance, shares (in shares) at Jun. 30, 2019 | 17,984,105 | 17,984,105 |
Consolidated Statements of Ch_2
Consolidated Statements of Changes in Stockholders' Equity (Parentheticals) | 12 Months Ended |
Jun. 30, 2019$ / shares | |
Statement of Stockholders' Equity [Abstract] | |
Common Stock, dividends, per share, cash paid (in dollars per share) | $ 0.18 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2017 | |
Operating Activities: | |||
Net Income | $ 27,146 | $ 8,235 | $ 11,847 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Provision for loan losses | 5,700 | 0 | 0 |
Depreciation | 4,243 | 3,810 | 3,816 |
Deferred income tax expense | 5,346 | 26,121 | 4,947 |
Net amortization and accretion | (6,828) | (5,950) | (6,658) |
Gain on sale of premises and equipment | 0 | (164) | (385) |
Loss on sale and impairment of REO | 439 | 127 | 300 |
BOLI income | (2,103) | (2,117) | (2,088) |
Gain from sales of securities available for sale | 0 | 0 | (22) |
Gain on sale of loans held for sale | (6,218) | (4,276) | (2,674) |
Origination of loans held for sale | (190,870) | (143,755) | (134,258) |
Proceeds from sales of loans held for sale | 174,973 | 143,350 | 137,108 |
Increase (decrease) in deferred loan fees, net | (768) | 181 | (1,317) |
Increase in accrued interest receivable and other assets | (4,835) | (1,246) | (2,727) |
Core deposit intangible amortization | 2,029 | 2,645 | 2,823 |
ESOP compensation expense | 1,422 | 1,367 | 1,186 |
Restricted stock and stock option expense | 1,601 | 3,027 | 4,166 |
Increase in other liabilities | (3,615) | (13) | (949) |
Net cash provided by operating activities | 7,662 | 31,342 | 15,115 |
Investing Activities: | |||
Purchase of securities available for sale | (34,675) | 0 | (15,082) |
Proceeds from sales of securities available for sale | 0 | 0 | 19,279 |
Proceeds from maturities of securities available for sale | 38,430 | 20,675 | 27,145 |
Maturities (purchase) of commercial paper, net | (5,824) | (75,202) | 81,821 |
Purchase of certificates of deposit in other banks | (18,154) | (17,201) | (41,988) |
Maturities of certificates of deposit in other banks | 33,086 | 82,538 | 71,476 |
Principal repayments of mortgage-backed securities | 31,627 | 20,471 | 23,919 |
Net redemptions (purchases) of other investments | (3,447) | 2,141 | (7,255) |
Net increase in loans | (173,754) | (168,602) | (255,853) |
Purchase of BOLI | (137) | (76) | (273) |
Proceeds from redemption of BOLI | 14 | 146 | 0 |
Purchase of equipment for operating leases and other assets | (16,578) | 0 | 0 |
Purchase of premises and equipment | (2,124) | (3,458) | (2,821) |
Proceeds from sale of premises and equipment | 0 | 923 | 395 |
Capital improvements to REO | 0 | (30) | (11) |
Proceeds from sale of REO | 1,047 | 3,883 | 3,277 |
Acquisition of United Financial of North Carolina, Inc. | 0 | (225) | (200) |
Acquisition of TriSummit Bancorp, Inc., net of cash received | 0 | 0 | (10,585) |
Net cash used in investing activities | (150,489) | (134,017) | (106,756) |
Financing Activities: | |||
Net increase (decrease) in deposits | 131,004 | 147,802 | (34,479) |
Net increase (decrease) in borrowings | 45,000 | (61,500) | 158,031 |
Common stock repurchased | (30,638) | 0 | 0 |
Cash dividends paid | (3,176) | 0 | 0 |
Retired stock | (205) | (494) | (569) |
Stock options exercised | 1,173 | 651 | 3,068 |
Decrease in capital lease obligations | (34) | (23) | (21) |
Net cash provided by financing activities | 143,124 | 86,436 | 126,030 |
Net Increase (Decrease) in Cash and Cash Equivalents | 297 | (16,239) | 34,389 |
Cash and Cash Equivalents at Beginning of Period | 70,746 | 86,985 | 52,596 |
Cash and Cash Equivalents at End of Period | 71,043 | 70,746 | 86,985 |
Cash paid during the period for: | |||
Interest | 28,997 | 15,716 | 7,980 |
Income taxes | 1,549 | 887 | 383 |
Noncash transactions: | |||
Unrealized gain (loss) in value of securities available for sale, net of income taxes | 2,331 | (1,871) | (2,070) |
Transfers of loans to REO | 731 | 1,346 | 2,417 |
Retained portion of loans sold to the U.S. Small Business Administration (SBA) | 15,607 | 4,415 | 0 |
Transfers of loans to held for sale from loans held for investment | 5,794 | 0 | 0 |
Business Combinations: | |||
Assets acquired | 0 | 0 | 364,504 |
Liabilities assumed | 0 | 0 | 328,378 |
Net assets acquired | $ 0 | $ 0 | $ 36,126 |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Jun. 30, 2019 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | Summary of Significant Accounting Policies Business 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 its consolidated subsidiary, unless the context otherwise requires. HomeTrust is a bank holding company primarily engaged in the business of planning, directing, and coordinating the business activities of the Bank. The Bank is a North Carolina state chartered bank and provides a wide range of retail and commercial banking products within its geographic footprint, which includes: North Carolina (the Asheville metropolitan area, Greensboro/"Piedmont" region, Charlotte, and Raleigh/Cary), Upstate South Carolina (Greenville), East Tennessee (Kingsport/Johnson City/Bristol, Knoxville, and Morristown) and Southwest Virginia (the Roanoke Valley). The Bank operates under a single set of corporate policies and procedures and is recognized as a single banking segment for financial reporting purposes. Accounting Principles The accounting and reporting policies of the Company conform to accounting principles generally accepted in the United States (“US GAAP”). Principles of Consolidation and Subsidiary Activities The accompanying consolidated financial statements include the accounts of HomeTrust, the Bank, and its wholly-owned subsidiary, Western North Carolina Service Corporation (“WNCSC”) at or for the years ended June 30, 2019 , 2018 , and 2017 . WNCSC owns office buildings in Asheville, North Carolina that are leased to the Bank. All intercompany items have been eliminated. Reclassifications 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. Use of Estimates in Financial Statements The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Cash and Cash Equivalents Cash and cash equivalents include cash and interest-bearing deposits with initial terms to maturity of 90 days or less. Commercial Paper Commercial paper includes highly liquid short-term debt of investment graded corporations with maturities less than 270 days. These instruments are typically purchased at a discount based on prevailing interest rates and do not exceed $ 15.0 million per issuer. Debt Securities The Company classifies debt securities as trading, available for sale, or held to maturity. Securities available for sale are carried at fair value. These securities are used to execute asset/liability management strategies, manage liquidity, and leverage capital, and therefore may be sold prior to maturity. Adjustments for unrealized gains or losses, net of the income tax effect, are made to accumulated other comprehensive income, a separate component of total stockholders’ equity. Securities held to maturity are stated at cost, net of unamortized balances of premiums and discounts. When these securities are purchased, the Company intends to and has the ability to hold such securities until maturity. Declines in the fair value of individual securities available for sale or held to maturity below their cost that are other-than-temporary result in write-downs of the individual securities to their fair value. The related write-downs are included in earnings as realized losses. In estimating other-than-temporary impairment losses, the Company considers among other things, (i) the length of time and the extent to which the fair value has been less than cost, (ii) the financial condition and near-term prospects of the issuer, and (iii) the intent and ability of the Company to retain its investment in the issuer for a period of time sufficient to allow for any anticipated recovery of the unrealized loss, and in the case of debt securities, whether it is more likely than not that the Company will be required to sell the security prior to a recovery. Premiums and discounts are amortized or accreted over the life of the security as an adjustment to yield. Dividend and interest income are recognized when earned. Gains or losses on the sale of securities are recognized on a specific identification, trade date basis. Loans Portfolio loans are carried at their outstanding principal amount, less unearned income and deferred nonrefundable loan fees, net of certain origination costs. Interest income is recorded as earned on an accrual basis based on the contractual rate and the outstanding balance, except for nonaccruing loans where interest is recorded as earned on a cash basis. Net deferred loan origination fees/costs are deferred and amortized to interest income over the life of the related loan. Acquired Loans Purchased loans are recorded at their fair value at the acquisition date. Credit discounts are included in the determination of fair value; therefore, an allowance for loan and lease losses is not recorded at the acquisition date. Acquired loans are evaluated upon acquisition and classified as either purchased impaired or purchased non-impaired. Purchased impaired loans reflect credit deterioration since origination such that it is probable at acquisition that the Company will be unable to collect all contractually required payments. The cash flows expected to be received over the life of the loans were estimated by management. These cash flows were provided to third party analysts to calculate carrying values of the loans, book yields, effective interest income and impairment, if any, based on actual and projected events. Default rates, loss severity, and prepayment speed assumptions will be periodically reassessed to update our expectation of future cash flows. The excess of the cash flows expected to be collected over a loan's carrying value is considered to be the accretable yield and is recognized as interest income over the estimated life of the loan using the effective yield method. The accretable yield may change due to changes in the timing and amounts of expected cash flows. Changes in the accretable yield are disclosed quarterly. The excess of the undiscounted contractual balances due over the cash flows expected to be collected is considered to be the nonaccretable difference. The nonaccretable difference represents our estimate of the credit losses expected to occur and was considered in determining the fair value of the loans as of the acquisition date. Subsequent to the acquisition date, any increases in expected cash flows over those expected at purchase date in excess of fair value are adjusted through a change to the accretable yield on a prospective basis. Any subsequent decreases in expected cash flows attributable to credit deterioration are recognized by recording a provision for loan losses. The purchased impaired loans acquired are and will continue to be subject to the Company's internal and external credit review and monitoring. For purchased non-impaired loans, the difference between the fair value and unpaid principal balance of the loan at the acquisition date is amortized or accreted to interest income over the life of the loans. Loan Segments and Classes The Company’s loan portfolio is grouped into two segments (retail consumer loans and commercial loans) and into various classes within each segment. The Company originates, services, and manages its loans based on these segments and classes. The Company’s portfolio segments and classes within those segments are subject to risks that could have an adverse impact on the credit quality of the loan portfolio. Management identified the risks described below as significant risks that are generally similar among the loan segments and classes. Retail Consumer loan segment The Company underwrites its retail consumer loans using automated credit scoring and analysis tools. These credit scoring tools take into account factors such as payment history, credit utilization, length of credit history, types of credit currently in use, and recent credit inquiries. To the extent that the loan is secured by collateral, the value of the collateral is also evaluated. Common risks to each class of retail consumer loans include general economic conditions within the Company’s markets, such as unemployment and potential declines in collateral values, and the personal circumstances of the borrowers. In addition to these common risks for the Company’s retail consumer loans, various retail consumer loan classes may also have certain risks specific to them. One-to-four family and construction and land/lot loans are to individuals and are typically secured by one-to-four family residential property, undeveloped land, and partially developed land in anticipation of pending construction of a personal residence. Significant and rapid declines in real estate values can result in residential mortgage loan borrowers having debt levels in excess of the current market value of the collateral, which can lead to higher levels of foreclosures. Construction and land/lot loans may experience delays in completion and cost overruns that exceed the borrower’s financial ability to complete the project. Such cost overruns can result in foreclosure of partially completed and unmarketable collateral. Originated home equity lines of credit ("HELOCs") are often secured by second liens on residential real estate, thereby making such loans particularly susceptible to declining collateral values. A substantial decline in collateral value could render the Company’s second lien position to be effectively unsecured. Additional risks include lien perfection inaccuracies and disputes with first lien holders that may further weaken collateral positions. Further, the open-end structure of these loans creates the risk that customers may draw on the lines in excess of the collateral value if there have been significant declines since origination. In addition, the Company purchases certain HELOCs from a third party. The credit risk characteristics are different for these loans since they were not originated by the Company and the collateral is located outside the Company’s market area, primarily in several western states. The Company established an allowance for loan losses based on the historical losses of the portfolio. The Company monitors the performance of these loans and adjusts the allowance for loan losses as necessary. Indirect auto finance loans are primarily for new and used personal automobiles originated by franchised and independent auto dealers within the Company's geographic footprint. The bank-dealer relationship is governed by contract, which provides warranties and representations, payment schedules, and rights and remedies upon breach. The underwriting process and standards are maintained by the Company and implemented via an automated decision tool, which incorporates the borrower's credit score, loan to value ratio, and terms of the loan to determine the borrower's creditworthiness. Consumer loans include loans secured by deposit accounts or personal property such as automobiles, boats, and motorcycles, as well as unsecured consumer debt. The value of underlying collateral within this class is especially volatile due to potential rapid depreciation in values since date of loan origination in excess of principal repayment. Commercial loan segment The Company’s commercial loans are centrally underwritten based primarily on the customer’s ability to generate the required cash flow to service the debt in accordance with the contractual terms and conditions of the loan agreement. The Company’s commercial lenders and underwriters work to understand the borrower’s businesses and management experiences. The majority of the Company’s commercial loans are secured by collateral, so collateral values are important to the transaction. In commercial loan transactions where the principals or other parties provide personal guarantees, the Company’s commercial lenders and underwriters analyze the relative financial strength and liquidity of each guarantor. Risks that are common to the Company’s commercial loan classes include general economic conditions, demand for the borrowers’ products and services, the personal circumstances of the principals, and reductions in collateral values. In addition to these common risks for the Company’s commercial loans, the various commercial loan classes also have certain risks specific to them. Construction and development loans are highly dependent on the supply and demand for commercial real estate in the Company’s markets as well as the demand for the newly constructed residential and commercial properties and lots being developed by the Company’s commercial loan customers. Prolonged deterioration in demand could result in significant decreases in the underlying collateral values and make repayment of the outstanding loans more difficult for the Company’s commercial borrowers. Commercial real estate and commercial and industrial loans are primarily dependent on the ability of the Company’s commercial loan customers to achieve business results consistent with those projected at loan origination resulting in cash flow sufficient to service the debt. To the extent that a borrower’s actual business results significantly underperform the original projections, the ability of that borrower to service the Company’s loan on a basis consistent with the contractual terms may be at risk. While these loans and leases are generally secured by real property, personal property, or business assets such as inventory or accounts receivable, it is possible that the liquidation of the collateral will not fully satisfy the obligation. Municipal leases are primarily made to volunteer fire departments and depend on the tax revenues received from the county or municipality. These leases are mainly secured by vehicles, fire stations, land, or equipment. The underwriting of the municipal leases is based on the cash flows of the fire department as well as projections of future income. Equipment finance is primarily made up of commercial finance agreements and commercial loans and leases provided by our new Equipment Finance line of business, and primarily for transportation, construction, and manufacturing equipment. The loans have terms on average of five years or less and are secured by the financed equipment. Credit Quality Indicators Loans are monitored for credit quality on a recurring basis and the composition of the loans outstanding by credit quality indicator is provided below. Loan credit quality indicators are developed through review of individual borrowers on an ongoing basis. Generally, loans are monitored for performance on a quarterly basis with the credit quality indicators adjusted as needed. The indicators represent the rating for loans as of the date presented based on the most recent assessment performed. These credit quality indicators are defined as follows: Pass —A pass rated asset is not adversely classified because it does not display any of the characteristics for adverse classification. Special Mention —A special mention asset has potential weaknesses that deserve management’s close attention. If left uncorrected, such potential weaknesses may result in deterioration of the repayment prospects or collateral position at some future date. Special mention assets are not adversely classified and do not warrant adverse classification. Substandard —A substandard asset is inadequately protected by the current net worth and paying capacity of the obligor, or of the collateral pledged, if any. Assets classified as substandard generally have a well-defined weakness, or weaknesses, that jeopardize the liquidation of the debt. These assets are characterized by the distinct possibility of loss if the deficiencies are not corrected. Doubtful —An asset classified doubtful has all the weaknesses inherent in an asset classified substandard with the added characteristic that the weaknesses make collection or liquidation in full highly questionable and improbable, on the basis of currently existing facts, conditions, and values. Loss —Assets classified loss are considered uncollectible and of such little value that their continuing to be carried as an asset is not warranted. This classification is not necessarily equivalent to no potential for recovery or salvage value, but rather that it is not appropriate to defer a full write-off even though partial recovery may be effected in the future. Loans Held for Sale Residential mortgages held for sale are valued at the lower of cost or fair value as determined by outstanding commitments from investors on a “best efforts” basis or current investor yield requirements, calculated on the aggregate loan basis. Beginning in fiscal year 2018, the Company began providing loans guaranteed by the SBA for the purchase of businesses, business startups, business expansion, equipment, and working capital. All SBA loans are underwritten and documented as prescribed by the SBA. SBA loans are generally fully amortizing and have maturity dates and amortizations of up to 25 years. SBA loans are classified as held for sale and are carried at the lower of cost or fair value. The guaranteed portion of the loan is sold and the servicing rights are retained. At the time of the sale, an asset is recorded for the value of the servicing rights and is amortized over the remaining life of the loan on the effective interest method. The servicing asset is included in other assets and the corresponding servicing fees are recorded in noninterest income. A gain is recorded for any premium received in excess of the carrying value of the net assets transferred in the sale and is also included in noninterest income. The portion of SBA loans that are retained are adjusted to fair value and reclassified as a loan held to maturity. The net value of the retained loans is included in the appropriate loan classification for disclosure purposes. Beginning in fiscal year 2019, the Company began originating HELOCs through a third party. These loans are originated in various states outside the Company's geographic footprint, but are underwritten to the Company's underwriting guidelines. The loans are held for sale by the Company over a 90 to 180 day period and are serviced by the third party. The loans are marketed by the third party to investors in pools and once sold the Company recognizes a gain on the sale. Allowance for Loan Losses The allowance for loan losses is management’s estimate of probable credit losses that are inherent in the Company’s loan portfolios at the balance sheet date. The allowance increases when the Company provides for loan losses through charges to operating earnings and when the Company recovers amounts from loans previously written down or charged off. The allowance decreases when the Company writes down or charges off loan amounts that are deemed uncollectible. Management determines the allowance for loan losses based on periodic evaluations that are inherently subjective and require substantial judgment because the evaluations require the use of material estimates that are susceptible to significant change. The Company generally uses two allowance methodologies that are primarily based on management’s determination as to whether or not a loan is considered to be impaired. All classified loans above a certain threshold meeting certain criteria are evaluated for impairment on a loan-by-loan basis and are considered impaired when it is probable, based on current information, that the borrower will be unable to pay contractual interest or principal as required by the loan agreement. Impaired loans below the threshold are evaluated as a pool with additional adjustments to the allowance for loan losses. Loans that experience insignificant payment delays and payment shortfalls are not necessarily considered impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment history, and the amount of the shortfall relative to the principal and interest owed. Impaired loans are measured at their estimated net realizable value based on either the value of the loan’s expected future cash flows discounted at the loan’s effective interest rate or on the collateral value, net of the estimated costs of disposal, if the loan is collateral dependent. For loans considered impaired, an individual allowance for loan losses is recorded when the loan principal balance exceeds the estimated net realizable value. For loans not considered impaired, management determines the allowance for loan losses based on estimated loss percentages that are determined by and applied to the various classes of loans that comprise the segments of the Company’s loan portfolio. The estimated loss percentages by loan class are based on a number of factors that include by class (i) average historical losses over the past two years, (ii) levels and trends in delinquencies, impairments, and net charge-offs, (iii) trends in the volume, terms, and concentrations, (iv) trends in interest rates, (v) effects of changes in the Company’s risk tolerance, underwriting standards, lending policies, procedures, and practices, and (vi) national and local business and economic conditions. Future material adjustments to the allowance for loan losses may be necessary due to changing economic conditions or declining collateral values. In addition, bank regulatory agencies, as an integral part of their examination process, periodically review the Company’s allowance for loan losses and may require the Company to make adjustments to the allowance for loan losses based upon judgments that differ significantly from those of management. Nonperforming Assets Nonperforming assets can include loans that are past due 90 days or more based on the loan’s contractual terms and continue to accrue interest, loans on which interest is not being accrued, and REO. Loans Past Due 90 Days or More, Nonaccruing, Impaired, or Restructured The Company’s policies related to when loans are placed on nonaccruing status conform to guidelines prescribed by bank regulatory authorities. Generally, the Company suspends the accrual of interest on loans (i) that are maintained on a cash basis because of the deterioration of the financial condition of the borrower, (ii) for which payment in full of principal or interest is not expected (impaired loans), or (iii) on which principal or interest has been in default for a period of 90 days or more, unless the loan is both well secured and in the process of collection. Under the Company’s cost recovery method, interest income is subsequently recognized only to the extent cash payments are received in excess of principal due. Loans are returned to accruing status when all principal and interest amounts contractually due are brought current and concern no longer exists as to the future collectability of principal and interest, which is generally confirmed when the loan demonstrates performance for six consecutive months or payment cycles. Restructured loans to borrowers who are experiencing financial difficulty, and on which the Company has granted concessions that modify the terms of the loan, are accounted for as troubled debt restructurings (“TDRs”). These loans remain as TDRs until the loan has been paid in full, modified to its original terms, or charged off. The Company may place these loans on accrual or nonaccrual status depending on the individual facts and circumstances of the borrower. Generally, these loans are put on nonaccrual status until there is adequate performance that evidences the ability of the borrower to make the contractual payments. This period of performance is normally at least six months, and may include performance immediately prior to or after the modification, depending on the specific facts and circumstances of the borrower. Loan Charge-offs The Company charges off loan balances, in whole or in part to net realizable value or fair value less costs to sell, when available, verifiable, and documentable information confirms that specific loans, or portions of specific loans, are uncollectible or unrecoverable. For unsecured loans, losses are confirmed when it can be determined that the borrower, or any guarantors, are unwilling or unable to pay the amounts as agreed. When the borrower, or any guarantor, is unwilling or unable to pay the amounts as agreed on a loan secured by collateral and any recovery will be realized upon the sale of the collateral, the loan is deemed to be collateral dependent. Repayments or recoveries for collateral dependent loans are directly affected by the value of the collateral at liquidation. As such, loan repayment can be affected by factors that influence the amount recoverable, the timing of the recovery, or a combination of the two. Such factors include economic conditions that affect the markets in which the loan or its collateral is sold, bankruptcy, repossession and foreclosure laws, and consumer banking regulations. Losses are also confirmed when the loan, or a portion of the loan, is classified as loss resulting from loan reviews conducted by the Company or its bank regulatory examiners. Charge-offs of loans in the commercial loan segment are recognized when the uncollectibility of the loan balance and the inability to recover sufficient value from the sale of any collateral securing the loan is confirmed. The uncollectibility of the loan balance is evidenced by the inability of the commercial borrower to generate cash flows sufficient to repay the loan as agreed causing the loan to become delinquent. For collateral dependent commercial loans, the Company determines the net realizable value of the collateral based on appraisals, current market conditions, and estimated costs to sell the collateral. For collateral dependent commercial loans where the loan balance, including any accrued interest, net deferred fees or costs, and unamortized premiums or discounts, exceeds the net realizable value of the collateral securing the loan, the deficiency is identified as unrecoverable, is deemed to be a confirmed loss, and is charged off. Charge-offs of loans in the retail consumer loan segment are generally confirmed and recognized in a manner similar to charge-offs of loans in the commercial loan segment. Secured retail consumer loans that are identified as uncollectible and are deemed to be collateral dependent are confirmed as loss to the extent the net realizable value of the collateral is insufficient to recover the loan balance. Consumer loans not secured by real estate that become 90 days past due are charged off to the extent that the fair value of any collateral, less estimated costs to sell the collateral, is insufficient to recover the loan balance. Consumer loans secured by real estate that become 120 days past due are charged off to the extent that the fair value of the real estate securing the loan, less estimated costs to sell the collateral, is insufficient to recover the loan balance. Loans to borrowers in bankruptcy are subject to modification by the bankruptcy court and are charged off to the extent that the fair value of any collateral securing the loan, less estimated costs to sell the collateral, is insufficient to recover the loan balance, unless the Company expects repayment is likely to occur. Such loans are charged off within 60 days of the receipt of notification from a bankruptcy court or when the loans become 120 days past due, whichever is shorter. Real Estate Owned REO consists of real estate acquired as a result of customers’ loan defaults. REO is stated at the fair value of the property net of the estimated costs of disposal with a charge to the allowance for loan losses upon foreclosure, if necessary. Any write-downs subsequent to foreclosure are charged against operating earnings. To the extent recoverable, costs relating to the development and improvement of property are capitalized, whereas those costs relating to holding the property are charged to expense. Premises and Equipment Premises and equipment are stated at cost less accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful lives. Leasehold improvements are amortized over the lives of the respective leases or the estimated useful life of the leasehold improvement, whichever is less. Maintenance and repair costs are expensed as incurred. Capitalized leases are amortized using the same methods as premises and equipment over the estimated useful lives or lease terms, whichever is less. Obligations under capital leases are amortized using the interest method to allocate payments between principal reduction and interest expense. Other Investments, at cost As a requirement for membership, the Bank invests in stock of the Federal Home Loan Bank of Atlanta ("FHLB") and the Federal Reserve Bank of Richmond ("Federal Reserve Bank" or "FRB"). These investments are carried at cost due to the redemption provisions of these entities and the restricted nature of the securities. Small Business Investment Companies ("SBIC") are considered equity securities without a readily determinable fair value. Prior to the adoption of ASU 2016-01 in the first quarter of fiscal 2019, SBICs were maintained in other assets. Beginning July 1, 2018, the SBIC investments are accounted for at cost less impairment, plus or minus changes resulting from observable price changes. Management reviews for impairment based on the ultimate recoverability of the cost basis of these investments. Business Combinations The Company uses the acquisition method of accounting for all business combinations. An acquirer must be identified for each business combination, and the acquisition date is the date the acquirer achieves control. The acquisition method of accounting requires the Company as acquirer to recognize the fair value of assets acquired and liabilities assumed at the acquisition date as well as recognize goodwill or a gain from a bargain purchase, if appropriate. Any acquisition-related costs and restructuring costs are recognized as period expenses as incurred. Goodwill Goodwill represents the excess of the purchase price over the sum of the estimated fair values of the tangible and identifiable intangible assets acquired less the estimated fair value of the liabilities assumed in a business combination. Goodwill has an indefinite useful life and is evaluated for impairment annually in the fourth quarter or more frequently if events and circumstances indicate that the asset might be impaired. An impairment loss is recognized to the extent that the carrying amount exceeds the asset’s fair value. In testing goodwill for impairment, we have the option to assess either qualitative or quantitative factors to determine whether the existence of events or circumstances leads to a determination that it is more likely than not that the estimated fair value of a reporting unit is less than its carrying amount. If we elect to perform a qualitative assessment and determine that an impairment is more likely than not, we are then required to perform a quantitative impairment test, otherwise no further analysis is required. Under the quantitative impairment test, the evaluation involves comparing the current fair value of each reporting unit to its carrying value, including goodwill. If the estimated fair value of a reporting unit exceeds its carrying value, goodwill is considered not to be impaired. If the carrying value exceeds estimated fair value an impairment charge is recognized for the difference, but limited by the amount of goodwill allocated to that reporting unit. The Company uses a combination of the market and income approaches to estimate the fair value of its reporting unit. All inputs are evaluated by management at the evaluation date of April 1st and reviewed again at year end to ensure no significant changes occurred that could indicate impairment. Subsequent reversal of goodwill impairment losses is |
Business Combinations
Business Combinations | 12 Months Ended |
Jun. 30, 2019 | |
Business Combinations [Abstract] | |
Business Combinations | Business Combinations All business combinations are accounted for using the acquisition method of accounting and, accordingly, assets acquired, liabilities assumed and consideration exchanged were recorded at acquisition date fair values. Fair values are preliminary and subject to refinement for up to one year after the closing date of the acquisition as additional information regarding the closing date fair values becomes available. United Financial of North Carolina, Inc. On December 31, 2016, the Bank acquired United Financial of North Carolina, Inc. ("United Financial"), a municipal lease company headquartered in Fletcher, North Carolina that specializes in providing financing for fire departments and municipalities for the purchase of fire trucks and related equipment as well as the construction of fire stations and other municipal buildings across the Carolinas and other southeastern states. United Financial underwrites and originates these municipal leases and then sells them to HomeTrust and other financial institutions. Beginning January 1, 2017, United Financial has conducted business under the name United Financial, a division of HomeTrust Bank. The total consideration paid by the Bank in the United Financial acquisition was $425 . Per the merger agreement, a cash payment of $200 was paid on the acquisition date with an additional $225 paid in the third quarter of fiscal 2018; all of which was allocated to goodwill. TriSummit Bancorp. Inc. On January 1, 2017, HomeTrust completed its acquisition of TriSummit Bancorp, Inc., (“TriSummit”) pursuant to an Agreement and Plan of Merger, dated as of September 20, 2016, under which TriSummit merged with and into HomeTrust (the “Merger”) with HomeTrust as the surviving corporation in the Merger. Immediately following the Merger, TriSummit's wholly owned subsidiary bank, TriSummit Bank, merged with and into the Bank (together with the Merger, the “TriSummit Merger”). Pursuant to the Merger Agreement, each share of the common stock of TriSummit and each share of Series A Preferred Stock of TriSummit issued and outstanding immediately prior to the Merger (on an as converted basis to a share of TriSummit common stock) was converted into the right to receive $4.40 in cash and .2099 shares of HomeTrust common stock, with cash paid in lieu of fractional share interests. At the Merger date, 50% of outstanding options granted by TriSummit were canceled. The remaining options were assumed by HomeTrust and converted into options to purchase 86,185 shares of HomeTrust Common Stock. In addition, TriSummit’s $7,222 Series B, Series C and Series D TARP preferred stock (all held by private shareholders) was redeemed in connection with the closing of the merger. The total consideration paid by HomeTrust in the TriSummit Merger approximates $36,126 . The total number of HomeTrust shares issued was 765,277 shares. HomeTrust paid aggregate cash consideration of approximately $16,083 . The following table presents the consideration paid by the Company in the acquisition of TriSummit and the assets acquired and liabilities assumed as of January 1, 2017: As Recorded by TriSummit Fair Value and Other Merger Related Adjustments As Recorded by the Company Consideration Paid: Cash paid including cash in lieu of fractional shares $ 16,083 Fair value of HomeTrust common stock at $25.90 per share 20,043 Total consideration $ 36,126 Assets: Cash and cash equivalents $ 5,498 $ — $ 5,498 Certificates of deposit in other banks 250 — 250 Investment securities 58,728 (203 ) 58,525 Other investments, at cost 2,614 — 2,614 Loans, net 261,926 (3,867 ) 258,059 Premises and equipment, net 12,841 (2,419 ) 10,422 REO 1,633 (122 ) 1,511 Deferred income taxes 2,653 4,462 7,115 Bank owned life insurance 3,762 — 3,762 Core deposit intangibles 1,285 1,575 2,860 Other assets 1,453 (105 ) 1,348 Total assets acquired $ 352,643 $ (679 ) $ 351,964 Liabilities: Deposits $ 279,647 $ 587 280,234 Borrowings 47,453 16 47,469 Other liabilities 675 — 675 Total liabilities assumed $ 327,775 $ 603 $ 328,378 Net identifiable assets acquired over liabilities assumed $ 24,868 $ (1,282 ) $ 23,586 Goodwill $ 12,540 The carrying amount of acquired loans from TriSummit as of January1, 2017 consisted of purchased performing loans and Purchase Credit Impaired ("PCI") loans as detailed in the following table: Purchased Performing PCI Total Loans Retail Consumer Loans: One-to-four family $ 75,179 $ 3,753 $ 78,932 HELOCs 6,479 2 6,481 Construction and land/lots 15,591 — 15,591 Consumer 1,686 17 1,703 Commercial: Commercial real estate 107,880 3,494 111,374 Construction and development 15,253 142 15,395 Commercial and industrial 28,295 288 28,583 Total $ 250,363 $ 7,696 $ 258,059 The following table presents the performing loans receivable purchased from TriSummit at January 1, 2017, the acquisition date: Contractually required principal payments receivable $ 255,852 Adjustment for credit, interest rate, and liquidity 5,489 Balance of purchased loans receivable $ 250,363 The following table presents the PCI loans acquired from TriSummit at January 1, 2017, the acquisition date: Contractually required principal and interest payments receivable $ 11,474 Amounts not expected to be collected - nonaccretable difference 2,490 Estimated payments expected to be received 8,984 Accretable yield 1,288 Fair value of PCI loans $ 7,696 |
Debt Securities
Debt Securities | 12 Months Ended |
Jun. 30, 2019 | |
Investments, Debt and Equity Securities [Abstract] | |
Securities Available for Sale | Securities available for sale consist of the following at the dates indicated: June 30, 2019 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value U.S. Government Agencies $ 15,099 $ 122 $ (11 ) $ 15,210 Residential Mortgage-backed Securities of U.S. Government Agencies and Government-Sponsored Enterprises 74,778 586 (184 ) 75,180 Municipal Bonds 24,896 423 (7 ) 25,312 Corporate Bonds 6,061 43 (20 ) 6,084 Total $ 120,834 $ 1,174 $ (222 ) $ 121,786 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. June 30, 2019 Amortized Cost Estimated Fair Value Due within one year $ 5,350 $ 5,359 Due after one year through five years 30,526 30,784 Due after five years through ten years 5,538 5,798 Due after ten years 4,642 4,665 Mortgage-backed securities 74,778 75,180 Total $ 120,834 $ 121,786 June 30, 2018 Amortized Cost Estimated Fair Value Due within one year $ 28,728 $ 28,573 Due after one year through five years 41,273 40,663 Due after five years through ten years 5,749 5,829 Due after ten years 9,306 9,266 Mortgage-backed securities 71,949 70,599 Total $ 157,005 $ 154,930 Gross proceeds and gross realized gains and losses from sales of securities recognized in net income follow: June 30, 2019 2018 2017 Gross proceeds from sales of securities $ — $ — $ 19,279 Gross realized gains from sales of securities — — 70 Gross realized losses from sales of securities — — (48 ) Securities available for sale with amortized costs totaling $94,337 and $136,914 and market values of $94,876 and $135,313 at June 30, 2019 and June 30, 2018 , respectively, were pledged as collateral to secure various public deposits and 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 June 30, 2019 and June 30, 2018 were as follows: June 30, 2019 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 $ — $ — $ 6,988 $ (11 ) $ 6,988 $ (11 ) Residential Mortgage-backed Securities of U.S. Government Agencies and Government-Sponsored Enterprises 1,144 (3 ) 24,242 (181 ) 25,386 (184 ) Municipal Bonds — — 4,895 (7 ) 4,895 (7 ) Corporate Bonds 393 (5 ) 3,630 (15 ) 4,023 (20 ) Total $ 1,537 $ (8 ) $ 39,755 $ (214 ) $ 41,292 $ (222 ) 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 June 30, 2019 , and June 30, 2018 were 100 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 years ended June 2019 , 2018 or 2017 . |
Other Investments
Other Investments | 12 Months Ended |
Jun. 30, 2019 | |
Investments, All Other Investments [Abstract] | |
Other Investments | Other Investments Other investments, at cost consist of the following at the dates indicated: June 30, 2019 June 30, 2018 FHLB of Atlanta stock $ 31,969 $ 29,907 FRB stock 7,335 7,307 Small Business Investment Companies ("SBIC") investments 6,074 4,717 Total $ 45,378 $ 41,931 As a requirement for membership, the Bank invests in the stock of both the FHLB of Atlanta and the 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. SBIC investments are equity securities without a readily determinable fair value. Prior to the adoption of ASU 2016-01, SBIC investments were maintained in other assets. |
Loans
Loans | 12 Months Ended |
Jun. 30, 2019 | |
Receivables [Abstract] | |
Loans | Loans Loans consist of the following at the dates indicated: June 30, June 30, Retail consumer loans: One-to-four family $ 660,591 $ 664,289 HELOCs - originated 131,095 137,564 HELOCs - purchased 116,972 166,276 Construction and land/lots 80,602 65,601 Indirect auto finance 153,448 173,095 Consumer 19,756 12,379 Total retail consumer loans 1,162,464 1,219,204 Commercial loans: Commercial real estate 927,261 857,315 Construction and development 210,916 192,102 Commercial and industrial 160,471 135,336 Equipment finance 132,058 13,487 Municipal leases 112,016 109,172 Total commercial loans 1,542,722 1,307,412 Total loans 2,705,186 2,526,616 Deferred loan costs (fees), net 4 (764 ) Total loans, net of deferred loan fees 2,705,190 2,525,852 Allowance for loan and lease losses (21,429 ) (21,060 ) Net loans $ 2,683,761 $ 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 outstanding FHLB advances. Loans are made to the Company's executive officers and directors and their associates during the ordinary course of business. The aggregate amount of loans to related parties totaled approximately $ 1,800 and $409 at June 30, 2019 and 2018 , respectively. In relation to these loans are unfunded commitments that totaled approximately $118 and $287 at June 30, 2019 and 2018 , respectively. The Company’s total non-purchased and purchased performing loans by segment, class, and risk grade at the dates indicated follows: Pass Special Mention Substandard Doubtful Loss Total June 30, 2019 Retail consumer loans: One-to-four family $ 644,159 $ 2,089 $ 8,072 $ 384 $ 19 $ 654,723 HELOCs - originated 129,775 111 976 — 8 130,870 HELOCs - purchased 116,306 — 666 — — 116,972 Construction and land/lots 79,995 71 164 — — 80,230 Indirect auto finance 152,393 13 1,042 — 153,448 Consumer 18,601 656 491 3 5 19,756 Commercial loans: Commercial real estate 901,214 8,066 10,306 — — 919,586 Construction and development 207,827 790 1,357 1 — 209,975 Commercial and industrial 157,325 877 600 — — 158,802 Equipment finance 131,674 — 384 — — 132,058 Municipal leases 111,721 295 — — — 112,016 Total loans $ 2,650,990 $ 12,968 $ 24,058 $ 388 $ 32 $ 2,688,436 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 131,690 1,279 414 — — 133,383 Equipment finance 13,487 — — — — 13,487 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 PCI loans by segment, class, and risk grade at the dates indicated follows: Pass Special Mention Substandard Doubtful Loss Total June 30, 2019 Retail consumer loans: One-to-four family $ 4,124 $ 248 $ 1,496 $ — $ — $ 5,868 HELOCs - originated 225 — — — — 225 Construction and land/lots 142 — 230 — — 372 Commercial loans: Commercial real estate 4,503 1,903 1,300 — — 7,706 Construction and development 453 — 488 — — 941 Commercial and industrial 1,666 — — — 3 1,669 Total loans $ 11,113 $ 2,151 $ 3,514 $ — $ 3 $ 16,781 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 June 30, 2019 Retail consumer loans: One-to-four family $ 1,615 $ 1,389 $ 3,004 $ 657,587 $ 660,591 HELOCs - originated 226 208 434 130,661 131,095 HELOCs - purchased — 485 485 116,487 116,972 Construction and land/lots 138 6 144 80,458 80,602 Indirect auto finance 459 237 696 152,752 153,448 Consumer 6 31 37 19,719 19,756 Commercial loans: Commercial real estate 2,279 516 2,795 924,466 927,261 Construction and development — 1,133 1,133 209,783 210,916 Commercial and industrial 207 99 306 160,165 160,471 Equipment finance 649 384 1,033 131,025 132,058 Municipal leases — — — 112,016 112,016 Total loans $ 5,579 $ 4,488 $ 10,067 $ 2,695,119 $ 2,705,186 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 84 135,252 135,336 Equipment finance — — — 13,487 13,487 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: June 30, 2019 June 30, 2018 Nonaccruing 90 Days + & still accruing Nonaccruing 90 Days + & still accruing Retail consumer loans: One-to-four family $ 3,223 $ — $ 4,308 $ — HELOCs - originated 348 — 656 — HELOCs - purchased 666 — 187 — Construction and land/lots 6 — 165 — Indirect auto finance 463 — 255 — Consumer 45 — 321 — Commercial loans: Commercial real estate 3,559 — 2,863 — Construction and development 1,357 — 2,045 — Commercial and industrial 307 — 114 — Equipment finance 384 — — — Municipal leases — — — — Total loans $ 10,358 $ — $ 10,914 $ — PCI loans totaling $ 1,344 at June 30, 2019 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. TDRs are loans which have renegotiated loan terms to assist borrowers who are unable to meet the original terms of their loans. Such modifications to loan terms may include a lower interest rate, a reduction in principal, or a longer term to maturity. Additionally, all TDRs are considered impaired. The Company’s loans that were performing under the payment terms of TDRs that were excluded from nonaccruing loans above at the dates indicated follows: June 30, 2019 June 30, 2018 Performing TDRs $ 23,116 $ 21,251 An analysis of the allowance for loan losses by segment for the periods shown is as follows: June 30, 2019 PCI Retail Consumer Commercial Total Balance at beginning of period $ 483 $ 7,527 $ 13,050 $ 21,060 Provision for (recovery of) loan losses (282 ) (1,244 ) 7,226 5,700 Charge-offs — (1,136 ) (6,273 ) (7,409 ) Recoveries — 1,272 806 2,078 Balance at end of period $ 201 $ 6,419 $ 14,809 $ 21,429 June 30, 2018 PCI Retail Consumer Commercial Total Balance at beginning of period $ 727 $ 8,585 $ 11,839 $ 21,151 Provision for (recovery of) loan losses 228 (906 ) 678 — Charge-offs (472 ) (1,142 ) (1,033 ) (2,647 ) Recoveries — 990 1,566 2,556 Balance at end of period $ 483 $ 7,527 $ 13,050 $ 21,060 June 30, 2017 PCI Retail Consumer Commercial Total Balance at beginning of period $ 361 $ 11,549 $ 9,382 $ 21,292 Provision for (recovery of) loan losses 366 (2,829 ) 2,463 — Charge-offs — (1,219 ) (1,331 ) (2,550 ) Recoveries — 1,084 1,325 2,409 Balance at end of period $ 727 $ 8,585 $ 11,839 $ 21,151 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 June 30, 2019 Retail consumer loans: One-to-four family $ 62 $ 74 $ 2,375 $ 2,511 $ 5,868 $ 5,318 $ 649,405 $ 660,591 HELOCs - originated — 7 1,023 1,030 225 7 130,863 131,095 HELOCs - purchased — — 518 518 — — 116,972 116,972 Construction and land/lots — — 1,265 1,265 372 323 79,907 80,602 Indirect auto finance — — 927 927 — — 153,448 153,448 Consumer — 4 226 230 — 4 19,752 19,756 Commercial loans: Commercial real estate 118 28 7,890 8,036 7,706 8,692 910,863 927,261 Construction and development 4 5 3,187 3,196 941 1,397 208,578 210,916 Commercial and industrial 17 2 1,957 1,976 1,669 2 158,800 160,471 Equipment finance — — 1,305 1,305 — — 132,058 132,058 Municipal leases — — 435 435 — — 112,016 112,016 Total $ 201 $ 120 $ 21,108 $ 21,429 $ 16,781 $ 15,743 $ 2,672,662 $ 2,705,186 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 — 133,383 135,336 Equipment finance — — — — — — 13,487 13,487 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 Related Recorded Allowance With a Recorded Allowance With No Recorded Allowance Total June 30, 2019 Retail consumer loans: One-to-four family $ 18,302 $ 12,461 $ 3,152 $ 15,613 $ 472 HELOCs - originated 1,262 564 130 694 9 HELOCs - purchased 666 — 666 666 — Construction and land/lots 1,917 957 323 1,280 26 Indirect auto finance 601 353 137 490 2 Consumer 1,527 7 1,130 1,137 43 Commercial loans: Commercial real estate 10,127 6,434 3,404 9,838 36 Construction and development 2,574 940 791 1,731 7 Commercial and industrial 10,173 354 768 1,122 6 Equipment finance 462 — 384 384 — Total impaired loans $ 47,611 $ 22,070 $ 10,885 $ 32,955 $ 601 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 Total impaired loans $ 42,677 $ 22,209 $ 9,152 $ 31,361 $ 687 The table above includes $17,212 and $17,477 of impaired loans that were not individually evaluated at June 30, 2019 and June 30, 2018 , respectively, because these loans did not meet the Company’s threshold for individual impairment evaluation. The recorded allowance above includes $481 and $490 related to these loans that were not individually evaluated at June 30, 2019 and June 30, 2018 , respectively. The Company’s average recorded investment and interest income recognized on impaired loans as of the dates indicated follows: Year Ended June 30, 2019 June 30, 2018 June 30, 2017 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized Retail consumer loans: One-to-four family $ 17,319 $ 950 $ 23,257 $ 1,170 $ 25,256 $ 1,147 HELOCs - originated 1,005 63 2,304 104 2,548 152 HELOCs - purchased 320 13 189 15 48 12 Construction and land/lots 1,441 94 1,575 109 1,734 139 Indirect auto finance 373 29 256 23 106 2 Consumer 1,328 67 43 17 35 20 Commercial loans: Commercial real estate 5,026 466 6,496 209 7,771 272 Construction and development 1,779 65 2,703 56 2,450 58 Commercial and industrial 315 249 1,205 60 2,737 125 Equipment finance 192 37 — — — — Municipal leases — — 75 — 406 18 Total loans $ 29,098 $ 2,033 $ 38,103 $ 1,763 $ 43,091 $ 1,945 A summary of changes in the accretable yield for PCI loans for the periods indicated follows: Year Ended June 30, 2019 Year Ended June 30, 2018 Accretable yield, beginning of period $ 5,734 $ 7,080 Reclass from nonaccretable yield (1) 576 513 Other changes, net (2) 1,018 393 Interest income (2,069 ) (2,252 ) Accretable yield, end of period $ 5,259 $ 5,734 ______________________________ (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. The following table presents carrying values and unpaid principal balances for PCI loans at the dates indicated below: June 30, 2019 June 30, 2018 Carrying value of PCI loans $ 16,750 $ 20,904 Unpaid principal balance of PCI loans $ 20,141 $ 25,746 The following table presents a breakdown of the types of concessions made on TDRs by loan class for the periods indicated below: Year Ended June 30, 2019 Year Ended June 30, 2018 Year Ended June 30, 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 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 $ 84 — $ — $ — 3 $ 288 $ 285 Construction and land/lots — — — — — — 2 80 79 Commercial: Total 1 $ 85 $ 84 — $ — $ — 5 $ 368 $ 364 Extended payment terms: Retail consumer: One-to-four family 1 $ 34 $ 34 4 $ 514 $ 502 5 $ 186 $ 179 HELOCs - originated — — — — — — 1 37 37 Construction and land/lots — — — 1 36 32 1 280 264 Consumer 2 34 33 — — — 2 11 11 Commercial: Construction and development — — — — — — 1 439 439 Commercial and industrial — — — — — $ — 2 52 $ 50 Total 3 $ 68 $ 67 5 $ 550 $ 534 12 $ 1,005 $ 980 Other TDRs: Retail consumer: One-to-four family 18 $ 1,452 $ 1,433 25 $ 3,646 $ 3,747 13 $ 525 $ 517 HELOCs - originated — — — — — — 2 33 31 Construction and land/lots 1 29 28 — — — 4 404 318 Indirect auto finance 1 33 26 — — — — — — Consumer 1 2 2 1 2 2 — — — Commercial: Commercial real estate 3 5,440 5,427 — — — 3 2,349 2,035 Construction and development 1 182 182 — — — — — — Commercial and industrial — — — — — — 2 231 227 Total 25 $ 7,138 $ 7,098 26 $ 3,648 $ 3,749 24 $ 3,542 $ 3,128 Total 29 $ 7,291 $ 7,249 31 $ 4,198 $ 4,283 41 $ 4,915 $ 4,472 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 periods indicated below: Year Ended June 30, 2019 Year Ended June 30, 2018 Year Ended June 30, 2017 Number of Loans Recorded Investment Number of Loans Recorded Investment Number of Loans Recorded Investment Other TDRs: Retail consumer: One-to-four family 1 $ 72 5 $ 277 2 $ 27 Construction and land/lots — — — — 1 19 Consumer 1 2 — — — — Total Other TDRs 2 $ 74 5 $ 277 3 $ 46 Total 2 $ 74 5 $ 277 3 $ 46 Other TDRs include TDRs that have a below market interest rate and extended payment terms. The Company does not typically forgive principal when restructuring troubled debt. In the determination of the allowance for loan losses, management considers TDRs for all loan classes, and the subsequent nonperformance in accordance with their modified terms, by measuring impairment on a loan-by-loan basis based on either the value of the loan’s expected future cash flows discounted at the loan’s original effective interest rate or on the collateral value, net of the estimated costs of disposal, if the loan is collateral dependent. |
Premises and Equipment
Premises and Equipment | 12 Months Ended |
Jun. 30, 2019 | |
Property, Plant and Equipment [Abstract] | |
Premises and Equipment | Premises and Equipment Premises and equipment as of the dates indicated consist of the following: June 30, 2019 2018 Land $ 19,730 $ 19,934 Land held under capital lease 2,052 2,052 Office buildings 58,952 57,873 Furniture, fixtures and equipment 15,918 15,582 Total 96,652 95,441 Less accumulated depreciation (35,601 ) (32,904 ) Premises and equipment, net $ 61,051 $ 62,537 |
Accrued Interest Receivable
Accrued Interest Receivable | 12 Months Ended |
Jun. 30, 2019 | |
Receivables [Abstract] | |
Accrued Interest Receivable | Accrued Interest Receivable Accrued interest receivable as of the dates indicated consists of the following: June 30, 2019 2018 Loans $ 9,433 $ 8,164 Securities available for sale 690 776 Other 410 404 Total $ 10,533 $ 9,344 |
Real Estate Owned Real Estate O
Real Estate Owned Real Estate Owned | 12 Months Ended |
Jun. 30, 2019 | |
Real Estate Owned [Abstract] | |
Real Estate Owned | Real Estate Owned The activity within REO for the periods shown is as follows: Year Ended June 30, 2019 2018 Balance at beginning of period $ 3,684 $ 6,318 Transfers from loans 731 1,346 Sales, net of gain/loss (1,191 ) (3,471 ) Writedowns (295 ) (539 ) Capital improvements — 30 Balance at end of period $ 2,929 $ 3,684 At June 30, 2019 and 2018 , the Bank had $ 1,018 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 $243 and $395 for June 30, 2019 and 2018 , respectively. |
Goodwill and Core Deposit Intan
Goodwill and Core Deposit Intangibles | 12 Months Ended |
Jun. 30, 2019 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Core Deposit Intangibles | Goodwill and Core Deposit Intangibles The carrying amount of the Company's goodwill was $ 25,638 as of June 30, 2019 and 2018. Amortization expense related to core deposit intangibles was $2,029 , $2,645 , and $2,823 for the years ended June 30, 2019 , 2018 , and 2017 , respectively. As of June 30, 2019, estimated amortization expense for each of the next five years is as follows: 2020 $ 1,414 2021 741 2022 251 2023 90 2024 3 Total $ 2,499 |
Deposit Accounts
Deposit Accounts | 12 Months Ended |
Jun. 30, 2019 | |
Banking and Thrift [Abstract] | |
Deposit Accounts | Deposit Accounts Deposit accounts at the dates indicated consist of the following: Weighted Average Interest Rates June 30, June 30, 2019 2018 2019 2018 Noninterest-bearing accounts $ 294,322 $ 317,822 — % — % NOW accounts 452,295 471,364 0.15 % 0.11 % Money market accounts 691,172 677,665 0.89 % 0.48 % Savings accounts 177,278 213,250 0.12 % 0.13 % Certificates of deposit 712,190 516,152 1.99 % 1.01 % Total $ 2,327,257 $ 2,196,253 0.91 % 0.42 % Deposits received from executive officers and directors and their associates totaled approximately $4,448 and $5,692 at June 30, 2019 and 2018 , respectively. As of June 30, 2019, maturities of certificates of deposit are as follows: 2020 $ 515,519 2021 114,927 2022 52,905 2023 17,868 2024 10,971 Thereafter — Total $ 712,190 Certificates of deposit with balances of $250 or greater totaled $93,654 and $70,553 at June 30, 2019 and 2018 , respectively. Generally, deposit amounts in excess of $250 are not federally insured. Interest expense on deposits at the dates indicated consists of the following: June 30, 2019 2018 2017 NOW accounts $ 1,251 $ 970 $ 772 Money market accounts 5,102 2,442 1,405 Savings accounts 245 295 308 Certificates of deposit 9,159 3,051 2,103 Total $ 15,757 $ 6,758 $ 4,588 |
Borrowings
Borrowings | 12 Months Ended |
Jun. 30, 2019 | |
Banking and Thrift [Abstract] | |
Borrowings | Borrowings Borrowings consist of the following at the dates indicated: June 30, 2019 2018 Balance Weighted Average Rate Balance Weighted Average Rate FHLB Advances $ 680,000 2.10 % $ 635,000 1.95 % The scheduled maturity dates, call dates, and related interest rates on FHLB advances at June 30, 2019: Maturity Date Interest Rate Call Date Outstanding Amount 7/1/2019 2.47% — $ 15,000 7/8/2019 2.40% — 45,000 7/8/2019 2.44% — 135,000 7/10/2019 2.40% — 10,000 7/10/2019 2.42% — 40,000 7/15/2019 2.33% — 130,000 7/29/2019 2.33% — 5,000 9/20/2019 0.86% 9/20/2019 25,000 3/6/2028 1.72% 9/6/2019 100,000 3/22/2028 1.82% 9/23/2019 50,000 6/5/2028 1.87% 9/5/2019 50,000 9/13/2028 1.76% 9/13/2019 25,000 11/24/2028 2.07% 11/26/2019 25,000 11/24/2028 1.79% 8/26/2019 25,000 $ 680,000 All qualifying one-to-four family first mortgage loans, HELOCs, commercial real estate loans, FHLB stock, and certain investment securities were pledged as collateral to secure the FHLB advances. At June 30, 2019 and 2018 , the Company had the ability to borrow $89,499 and $79,226 , respectively, in additional FHLB advances. At June 30, 2019 and 2018 , the Company had an unused line of credit with the FRB for $130,036 and $132,349 , respectively. At June 30, 2019 and 2018 , the Company had unused lines of credit with three unaffiliated banks for $70,000 and $60,000 , respectively. |
Leases
Leases | 12 Months Ended |
Jun. 30, 2019 | |
Leases [Abstract] | |
Leases | Leases As Lessee The Company leases certain real property under long-term operating lease agreements. Rent expense under operating leases was $1,847 , $1,829 , and $1,583 for the years ended June 30, 2019 , 2018 , and 2017 , respectively. The following schedule summarizes aggregate future minimum lease payments under these operating leases at June 30, 2019 : Fiscal year ending June 30: 2020 $ 1,660 2021 1,395 2022 1,296 2023 1,291 2022 643 Thereafter 1,076 Total of future minimum payments $ 7,361 The Company currently leases land for one of its retail office locations under a capital lease. Leases that meet the criteria for capitalization are recorded as assets and the related obligations are reflected as capital lease obligations on the accompanying balance sheets, because the lease has been deemed to have a bargain purchase option. Included in premises and equipment at June 30, 2019 and June 30, 2018 is $2,052 as the capitalized cost of the leased land. Aggregate future minimum lease payments due under this capital lease obligation as of June 30, 2019 are as follows: Fiscal year ending June 30, 2019: 2020 $ 134 2021 134 2022 134 2023 134 2023 145 Thereafter 1,995 Total minimum lease payments 2,676 Less: amount representing interest (796 ) Present value of net minimum lease payments $ 1,880 As Lessor The Company's new Equipment Finance line of business first began in May 2018 and offers operating leases as a financing option. Operating lease income is recognized as a component of noninterest income on a straight-line basis over the lease term. Assets related to operating leases are included in other assets and the corresponding depreciation expense is recorded on a straight-line basis as a component of noninterest expense. Leased assets totaled $ 10.0 million with a residual value of $ 5.8 million as of June 30, 2019. For the year ended June 30, 2019, total operating lease income totaled $ 936 . The following schedule summarizes aggregate future minimum lease payments to be received at June 30, 2019: Fiscal year ending June 30: 2020 $ 2,066 2021 4,499 2022 3,011 2023 175 2022 244 Thereafter — Total of future minimum payments $ 9,995 |
Income Taxes
Income Taxes | 12 Months Ended |
Jun. 30, 2019 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Income Taxes Income tax expense as of the dates indicated consists of: June 30, 2019 2018 2017 Current: Federal $ 755 $ 291 $ 191 State 690 324 54 Total current expense 1,445 615 245 Deferred: Federal 5,404 7,909 4,561 State 267 625 386 Adjustment due to the Tax Cuts and Jobs Act (“Tax Act”) (325 ) 17,587 — Total deferred expense 5,346 26,121 4,947 Total income tax expense $ 6,791 $ 26,736 $ 5,192 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: Year Ended June 30, 2019 2018 2017 $ Rate $ Rate $ Rate Tax at federal income tax rate $ 7,127 21 % $ 9,617 28 % $ 5,793 34 % Increase (decrease) resulting from: Tax exempt income (855 ) (2 )% (1,075 ) (3 )% (1,391 ) (8 )% Nondeductible merger expenses — — % — — % 91 1 % Change in valuation allowance for deferred tax assets, allocated to income tax expense (325 ) (1 )% 87 — % (327 ) (2 )% State tax, net of federal benefit 756 2 % 688 2 % 290 2 % Change in deferred tax assets due to the Tax Act — — % 17,587 50 % — — % Other 88 — % (168 ) (1 )% 736 4 % Total $ 6,791 20 % $ 26,736 76 % $ 5,192 31 % The sources and tax effects of temporary differences that give rise to significant portions of the deferred tax assets (liabilities) at June 30, 2019 and 2018 are presented below: June 30, 2019 2018 Deferred tax assets: Alternative minimum tax credit $ 4,799 $ 4,920 Allowance for loan losses 4,685 4,637 Deferred compensation and post-retirement benefits 8,988 9,400 Accrued vacation and sick leave 18 18 Impairments on real estate owned 461 495 Other than temporary impairment on investments 2,232 2,254 Net operating loss carryforward 5,092 8,635 Discount from business combination 2,373 2,605 Unrealized loss on securities held for sale — 477 Stock compensation plans 2,162 2,271 Other 1,140 1,562 Total gross deferred tax assets 31,950 37,274 Less valuation allowance — (325 ) Deferred tax assets 31,950 36,949 Deferred tax (liabilities): Depreciable basis of fixed assets (1,089 ) (566 ) Deferred loan fees (520 ) (453 ) FHLB stock, book basis in excess of tax (89 ) (89 ) Unrealized gain on securities available for sale (219 ) — Other (3,510 ) (3,276 ) Total gross deferred tax liabilities (5,427 ) (4,384 ) Net deferred tax assets $ 26,523 $ 32,565 The enactment of the Tax Act and subsequent Internal Revenue Service guidelines reduced the statutory federal corporate income tax rate to 21% effective January 1, 2018, requiring the Company to revalue its DTA. The resulting $ 17.6 million in adjustments were reflected as an increase to the Company's income tax expense with an additional $ 325,000 in income tax expense during the fiscal year ended June 30, 2018 to establish a tax valuation allowance on our alternative minimum tax ("AMT") credits. In addition, our June 30, 2018 fiscal year end required the use of a blended federal income tax rate as prescribed by the Internal Revenue Code. The blended federal income tax rate of 27.5% was retroactively effective July 1, 2017 and was used for the entire fiscal year ended June 30, 2018. The Company had federal net operating loss ("NOL") carry forwards of $24,248 and $40,780 as of June 30, 2019 and June 30, 2018 , respectively, with a recorded tax benefit of $5,092 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 for deferred tax assets as of June 30, 2019 and 2018 was $0 and $325 , respectively. The valuation allowance of $ 325 was reversed during the year ended June 30, 2019 based on clarifying guidance released by the Internal Revenue Service related to the treatment of AMT credits under the Tax Act. In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management performed a robust evaluation of the Company’s deferred tax assets at June 30, 2019 and June 30, 2018 . Management considered all available positive and negative evidence including the possibility of future reversals of existing taxable temporary differences, projected future taxable income, tax planning strategies, and recent financial performance in making this assessment. Based upon this evaluation, management believes there is more positive evidence than negative evidence and it is more likely than not the Company will realize the benefits of these deductible differences, net of the existing valuation allowances at June 30, 2019 and June 30, 2018 . The amount of the deferred tax asset considered realizable, however, could be reduced in the near term if negative trends occur with credit quality and earnings during the carryforward period. Retained earnings at June 30, 2019 and 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 2015. |
Employee Benefit Plans
Employee Benefit Plans | 12 Months Ended |
Jun. 30, 2019 | |
Retirement Benefits [Abstract] | |
Employee Benefit Plans | Employee Benefit Plans The HomeTrust Bank KSOP Plan ("KSOP") is comprised of two components, the 401(k) Plan and the ESOP. The KSOP benefits employees with at least 1000 hours of service during a 12 -month period and who have attained age 21 . Under the 401(k), the Company matches employee contributions at 50% of employee deferrals up to 6% of each employee’s compensation. The Company may also make discretionary profit sharing contributions for the benefit of all eligible participants as long as total contributions do not exceed applicable limitations. Employees become fully vested in the Company’s contributions after six years of service. Under the ESOP, the amount of the Bank's annual contribution is discretionary, however it must be sufficient to pay the annual loan payment to the Company. The Company’s expense for 401(k) contributions to this plan was $ 810 , $737 , and $450 for the years ended June 30, 2019 , 2018 , and 2017 , respectively. The Company's expense related to the ESOP for the fiscal year ended June 30, 2019 , 2018 , and 2017 was $ 1,422 , $ 1,367 , and $ 1,186 , respectively. Shares held by the ESOP at the dates indicated include the following: June 30, 2019 2018 Unallocated ESOP shares 687,700 740,600 Allocated ESOP shares 317,400 264,500 ESOP shares committed to be released 52,900 52,900 Total ESOP shares 1,058,000 1,058,000 Fair value of unallocated ESOP shares $ 17,289 $ 20,848 Post-retirement health care benefits are provided to certain key officers under the Company’s Executive Medical Care Plan (“EMCP”). The EMCP is unfunded and is not qualified under the Internal Revenue Code ("IRC"). Plan expense for the years ended June 30, 2019 , 2018 , and 2017 was $210 , $224 , and $135 , respectively. Total accrued expenses related to this plan included in other liabilities were $5,289 and $5,237 , respectively, as of June 30, 2019 and 2018 . |
Deferred Compensation Agreement
Deferred Compensation Agreements | 12 Months Ended |
Jun. 30, 2019 | |
Retirement Benefits [Abstract] | |
Deferred Compensation Agreements | Deferred Compensation Agreements The Company’s Director Emeritus Plans (“Plans”) provide certain benefits to Emeritus Directors for providing current advisory services to the Company. The Plans are unfunded and are not qualified under the IRC. Plan benefits vary by participant and are payable to a designated beneficiary in the event of death. The Company records an expense based on the present value of expected future benefits. Plan expenses for the years ended June 30, 2019 , 2018 , and 2017 were $410 , $417 , and $419 , respectively. Total accrued expenses related to these plans included in other liabilities were $8,268 and $8,542 , respectively, as of June 30, 2019 and 2018 . The Company has deferred compensation agreements with certain members of the Company’s Board of Directors. The future payments related to these agreements are to be funded with life insurance contracts which are payable to the Company in the event of the director’s death. For the years ended June 30, 2019 , 2018 , and 2017 deferred compensation expense was $28 , $32 , and $34 , respectively. The net cash surrender value of the related life insurance policies and deferred compensation liability as of the dates indicated are detailed below: June 30, 2019 2018 Net cash surrender value of life insurance, related to deferred compensation $ 7,413 $ 7,142 Deferred compensation liability, included in other liabilities $ 956 $ 1,075 Long term deferred compensation and supplemental retirement plans are provided to certain key current and former officers. These plans are unfunded and are not qualified under the IRC. The benefits will vary by participant and are payable to a designated beneficiary in the event of death. Plan expenses for the years ended June 30, 2019 , 2018 , and 2017 were $771 , $519 , and $1,253 , respectively. Total accrued expenses related to these plans included in other liabilities were $19,499 and $20,257 , as of June 30, 2019 and 2018 , respectively. In addition, the Company has a deferred compensation plan provided to certain officers and directors. The plan allows the participants to defer any of their annual compensation, including bonus payments, up to the maximum allowed for each participant. The plan is unfunded and is not qualified under the IRC. Plan expenses for the years ended June 30, 2019 , 2018 , and 2017 were $223 , $205 , and $197 , respectively. The total deferred compensation plan payable included in other liabilities was $4,966 and $5,274 , respectively as of June 30, 2019 and 2018 . |
Net Income per Share
Net Income per Share | 12 Months Ended |
Jun. 30, 2019 | |
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 as of the dates indicated: June 30, 2019 2018 2017 Numerator: Net income $ 27,146 $ 8,235 $ 11,847 Allocation of earnings to participating securities (189 ) (60 ) (125 ) Numerator for basic EPS - Net income available to common stockholders $ 26,957 $ 8,175 $ 11,722 Effect of dilutive securities: Dilutive effect to participating securities 7 2 4 Numerator for diluted EPS $ 26,964 $ 8,177 $ 11,726 Denominator: Weighted-average common shares outstanding - basic 17,692,493 18,028,854 17,379,487 Effect of dilutive shares 700,691 697,577 576,956 Weighted-average common shares outstanding - diluted 18,393,184 18,726,431 17,956,443 Net income per share - basic $ 1.52 $ 0.45 $ 0.66 Net income per share - diluted $ 1.46 $ 0.44 $ 0.65 There were 455,800 and 420,800 outstanding stock options that were anti-dilutive as of June 30, 2019 and 2018 , respectively. |
Equity Incentive Plan
Equity Incentive Plan | 12 Months Ended |
Jun. 30, 2019 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Equity Incentive Plan | Equity Incentive Plan The Company provides stock-based awards through the 2013 Omnibus Incentive Plan which provides for awards of restricted stock, restricted stock units, stock options, stock appreciation rights, and cash awards to directors, emeritus directors, officers, employees, and advisory directors. The cost of equity-based awards under the 2013 Omnibus Incentive Plan generally is based on the fair value of the awards on their grant date. The maximum number of shares that may be utilized for awards under the plan is 2,962,400 , including 2,116,000 for stock options and stock appreciation rights and 846,400 for awards of restricted stock and restricted stock units. Shares of common stock issued under the 2013 Omnibus Incentive Plan may be authorized but unissued shares or, in the case of restricted stock awards, may be repurchased shares. As of June 30, 2013, the Company had repurchased all 846,400 shares on the open market for issuance under the 2013 Omnibus Incentive Plan, for $13,297 , at an average cost of $15.71 per share. Share based compensation expense related to stock options and restricted stock recognized for the fiscal year ended June 30, 2019 , 2018 , and 2017 was $1,601 , $3,027 , and $4,166 , respectively, before the related tax benefit of $376 , $908 , and $1,541 , respectively. The table below presents stock option activity and related information: Options Weighted- average exercise price Remaining contractual life (years) Aggregate Intrinsic Value Options outstanding at June 30, 2016 1,529,300 14.50 6.8 $ 6,117 Granted 60,500 24.95 — — Granted, TriSummit acquisition 86,185 23.82 Exercised 185,142 16.56 — — Forfeited 19,000 14.53 — — Expired 1,800 14.37 — — Options outstanding at June 30, 2017 1,470,043 $ 15.22 5.8 $ 13,533 Exercisable at June 30, 2017 1,033,943 $ 14.82 Granted 360,400 26.01 — — Exercised 44,200 14.72 — — Forfeited 24,700 14.43 — — Expired 43,273 23.82 — — Options outstanding at June 30, 2018 1,718,270 $ 17.29 5.9 $ 18,664 Exercisable at June 30, 2018 1,223,470 $ 14.51 Granted 40,500 27.51 — — Exercised 80,311 14.62 — — Forfeited 20,300 23.30 — — Expired 945 23.82 — — Options outstanding at June 30, 2019 1,657,214 $ 17.59 5.0 $ 12,909 Exercisable at June 30, 2019 1,279,614 $ 15.39 4.1 $ 12,549 Non-vested at June 30, 2019 377,600 $ 25.04 8.3 $ 360 The fair value of each option is estimated on the date of grant using the Black-Scholes-Merton option pricing model. Assumptions used for grants were as follows: Assumptions in Estimating Option Values 2019 2018 Weighted-average volatility 17.84 % 17.69 % Expected dividend yield (1) 0.87 % — % Risk-free interest rate 2.52 % 2.67 % Expected life (years) 6.5 6.5 Weighted-average fair value of options granted $ 5.88 $ 6.62 (1) The Company began paying a cash dividend during the second quarter of fiscal 2019. At June 30, 2019 , the Company had $2,133 of unrecognized compensation expense related to 377,600 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 is expected to be recognized was 1.9 years at June 30, 2019 . At June 30, 2018 , the Company had $2,705 of unrecognized compensation expense related to 494,800 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 is expected to be recognized was 2.3 years at June 30, 2018 . All unexercised options expire ten years after the grant date. The table below presents restricted stock award activity and related information: Restricted stock awards Weighted- average grant date fair value Aggregate Intrinsic Value Non-vested at June 30, 2016 248,750 $ 14.81 $ 4,602 Granted 47,500 24.70 — Vested 104,620 14.58 — Forfeited 6,000 15.07 — Non-vested at June 30, 2017 185,630 $ 17.46 $ 3,419 Granted 55,200 25.89 — Vested 100,820 15.14 — Forfeited 6,600 14.37 — Non-vested at June 30, 2018 133,410 $ 22.85 $ 3,755 Granted 34,000 27.51 — Vested 39,310 21.64 — Forfeited 4,300 19.08 — Non-vested at June 30, 2019 123,800 $ 24.65 $ 2,258 The table above includes performance-based restrictive stock units totaling 10,375 which were granted during the year ended June 30, 2019. These stock units are scheduled to vest over 3.0 years assuming certain performance metrics are met. At June 30, 2019 , unrecognized compensation expense was $2,547 related to 123,800 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 1.9 years at June 30, 2019 . At June 30, 2018 , unrecognized compensation expense was $2,570 related to 133,410 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 2.1 years at June 30, 2018 . |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Jun. 30, 2019 | |
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 June 30, 2019 and June 30, 2018 , respectively, loan commitments (excluding $181,477 and $209,726 of undisbursed portions of construction loans) totaled $93,432 and $49,949 of which $34,631 and $19,812 were variable rate commitments and $58,801 and $30,137 were fixed rate commitments. The fixed rate loans had interest rates ranging from 2.69% to 8.59% at June 30, 2019 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 $353,663 and $491,649 at June 30, 2019 and 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 sale 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 June 30, 2019 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 equipment financing throughout the eastern United States and municipal leases to customers throughout North and South Carolina. The Company’s loan portfolio can be affected by the general economic conditions within these market areas. Management believes that the Company has no significant concentration of credit in the loan portfolio. Restrictions on Cash The Bank is required by regulation to maintain a varying cash reserve balance with the Federal Reserve System. The daily average calculated cash reserve required as of June 30, 2019 and 2018 was $2,633 , and $2,304 , respectively, which was satisfied by vault cash and balances held at the Federal Reserve Bank. Guarantees Standby letters of credit obligate the Company to meet certain financial obligations of its customers, if, under the contractual terms of the agreement, the customers are unable to do so. The financial standby letters of credit issued by the Company are irrevocable and payment is only guaranteed upon the borrower’s failure to perform its obligations to the beneficiary. Total commitments under standby letters of credit as of June 30, 2019 and 2018 were $9,460 and $8,227 , respectively. There was no liability recorded for these letters of credit at June 30, 2019 or June 30, 2018 . Litigation The Company is involved in several 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. There can be no assurance that loan workouts and other activities will not expose the Company to additional legal actions, including lender liability or environmental claims. Therefore, the Company may be exposed to substantial liabilities, which could adversely affect its results of operations and financial condition. Moreover, the expenses of legal proceedings will adversely affect its results of operations until they are resolved. 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. |
Capital
Capital | 12 Months Ended |
Jun. 30, 2019 | |
Banking and Thrift [Abstract] | |
Capital | Capital At June 30, 2019 , stockholder's equity totaled $408,896 . HomeTrust Bancshares, Inc. is a bank holding company subject to regulation by the Federal Reserve. As a bank holding company, we are subject to capital adequacy requirements of the Federal Reserve under the Bank Holding Company Act of 1956, as amended and the regulations of the Federal Reserve. Our subsidiary, the Bank, an FDIC-insured, North Carolina state-chartered bank and a member of the Federal Reserve System, is supervised and regulated by the Federal Reserve and the North Carolina Commissioner of Banks ("NCCOB") and is subject to minimum capital requirements applicable to state member banks established by the Federal Reserve that are calculated in a manner similar to those applicable to bank holding companies. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by bank regulators that, if undertaken, could have a direct material effect on the Company's financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Bank must meet specific capital guidelines that involve quantitative measures of the Bank’s assets, liabilities and certain off-balance-sheet items as calculated under regulatory accounting practices. The Bank’s capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings and other factors. At June 30, 2019 , HomeTrust Bancshares, Inc. and the Bank each exceeded all regulatory capital requirements as of that date. Consistent with our goals to operate a sound and profitable organization, our policy is for the Bank to maintain a “well-capitalized” status under the regulatory capital categories of the Federal Reserve. The Bank was categorized as "well-capitalized" at June 30, 2019 under applicable regulatory requirements. HomeTrust Bancshares, Inc. and the Bank's actual and required minimum capital amounts and ratios are as follows: Regulatory Requirements Actual Minimum for Capital Adequacy Purposes Minimum to Be Well Capitalized Amount Ratio Amount Ratio Amount Ratio HomeTrust Bancshares, Inc. As of June 30, 2019 Common Equity Tier I Capital (to Risk-weighted Assets) $ 374,729 12.20 % $ 138,226 4.50 % $ 199,659 6.50 % Tier I Capital (to Total Adjusted Assets) $ 374,729 10.89 % $ 137,649 4.00 % $ 172,062 5.00 % Tier I Capital (to Risk-weighted Assets) $ 374,729 12.20 % $ 184,301 6.00 % $ 245,734 8.00 % Total Risk-based Capital (to Risk-weighted Assets) $ 396,613 12.91 % $ 245,734 8.00 % $ 307,168 10.00 % As of June 30, 2018 Common Equity Tier I Capital (to Risk-weighted Assets) $ 372,188 12.97 % $ 129,109 4.50 % $ 186,491 6.50 % Tier I Capital (to Total Adjusted Assets) $ 372,188 11.45 % $ 130,032 4.00 % $ 162,539 5.00 % Tier I Capital (to Risk-weighted Assets) $ 372,188 12.97 % $ 172,145 6.00 % $ 229,527 8.00 % Total Risk-based Capital (to Risk-weighted Assets) $ 393,703 13.72 % $ 229,527 8.00 % $ 286,909 10.00 % HomeTrust Bank: As of June 30, 2019 Common Equity Tier I Capital (to Risk-weighted Assets) $ 355,759 11.59 % $ 138,153 4.50 % $ 199,555 6.50 % Tier I Capital (to Total Adjusted Assets) $ 355,759 10.34 % $ 137,590 4.00 % $ 171,988 5.00 % Tier I Capital (to Risk-weighted Assets) $ 355,759 11.59 % $ 184,204 6.00 % $ 245,606 8.00 % Total Risk-based Capital (to Risk-weighted Assets) $ 377,639 12.30 % $ 245,606 8.00 % $ 307,007 10.00 % As of June 30, 2018 Common Equity Tier I Capital (to Risk-weighted Assets) $ 335,152 11.70 % $ 128,889 4.50 % $ 186,173 6.50 % Tier I Capital (to Total Adjusted Assets) $ 335,152 10.33 % $ 129,769 4.00 % $ 162,211 5.00 % Tier I Capital (to Risk-weighted Assets) $ 335,152 11.70 % $ 171,852 6.00 % $ 229,136 8.00 % Total Risk-based Capital (to Risk-weighted Assets) $ 356,603 12.45 % $ 229,136 8.00 % $ 286,421 10.00 % ___________________________________ In addition to the minimum common equity Tier 1 ("CET1"), Tier 1 and total risk-based capital ratios, HomeTrust Bancshares, Inc. and the Bank have to maintain a capital conservation buffer consisting of additional CET1 capital or more than 2.50% above the required minimum levels in order to avoid limitations on paying dividends, engaging in share repurchases, and paying discretionary bonuses based on percentages of eligible retained income that could be utilized for such actions. As of June 30, 2019, the conservation buffer was 4.90% % and 4.30% % for HomeTrust Bancshares, Inc. and the Bank, respectively. A reconciliation of HomeTrust Bancshares, Inc.'s stockholders' equity under US GAAP and regulatory capital amounts as of the dates indicated follows: June 30, 2019 2018 Total stockholders' equity under US GAAP $ 408,896 $ 409,242 Accumulated other comprehensive loss (income), net of tax (733 ) 1,598 Investment in nonincludable subsidiary (780 ) (826 ) Disallowed deferred tax assets (5,092 ) (8,701 ) Disallowed goodwill and other disallowed intangible assets (27,562 ) (29,125 ) Tier I Capital 374,729 372,188 Allowable portion of allowance for loan losses and loan commitments 21,884 21,515 Total Risk-based Capital $ 396,613 $ 393,703 |
Parent Company Financial Inform
Parent Company Financial Information | 12 Months Ended |
Jun. 30, 2019 | |
Condensed Financial Information Disclosure [Abstract] | |
Parent Company Financial Information | Parent Company Financial Information The Company’s principal asset is its investment in its subsidiary, the Bank. The following tables present condensed financial information of the Company: Condensed balance sheet June 30, June 30, Assets: Cash and equivalents $ 8,481 $ 23,042 Certificates of deposit in other banks 746 994 Other securities — 63 Total loans 1,243 3,840 Allowance for loan losses (4 ) (64 ) Net loans 1,239 3,776 REO 621 805 Investment in bank subsidiary 389,926 372,206 ESOP loan receivable 7,412 7,896 Other assets 510 499 Total Assets $ 408,935 $ 409,281 Liabilities and Stockholders’ Equity: Other liabilities 39 39 Stockholders’ Equity 408,896 409,242 Total Liabilities and Stockholders’ Equity $ 408,935 $ 409,281 Condensed statement of income June 30, June 30, June 30, Income: Interest income $ 329 $ 456 $ 565 Other income 54 44 1 Equity earnings in Bank subsidiary 27,287 8,427 12,003 Total income 27,670 8,927 12,569 Expense: Management fee expense 407 385 354 REO expense 11 34 62 Loss on sale and impairment of REO 114 158 39 Provision for (recovery of) loan losses (259 ) (131 ) 90 Other expense 251 246 177 Total expense 524 692 722 Income Before Income Taxes 27,146 8,235 11,847 Income Tax Expense — — — Net Income $ 27,146 $ 8,235 $ 11,847 Condensed statement of cash flows June 30, June 30, June 30, Operating Activities: Net income $ 27,146 $ 8,235 $ 11,847 Adjustments to reconcile net income to net cash provided by operating activities: Provision for (recovery of) loan losses (259 ) (131 ) 90 Loss on sale and impairment of REO 114 158 39 Decrease (increase) in accrued interest receivable and other assets 52 291 (30 ) Equity in undistributed income of Bank (27,287 ) (8,427 ) (12,003 ) ESOP compensation expense 1,422 1,367 1,186 Restricted stock and stock option expense 1,601 3,027 4,166 Decrease in other liabilities — (48 ) (260 ) Net cash provided by operating activities 2,789 4,472 5,035 Investing Activities: Maturities of certificates of deposit in other banks 248 6,217 1,245 Repayment of loans 2,796 1,514 2,176 Increase in investment in Bank subsidiary (1,556 ) (1,367 ) (3,408 ) Dividend from subsidiary 13,454 — 10,291 ESOP principal payments received 484 472 462 Proceeds from sale of REO 70 499 61 Acquisition of TriSummit Bancorp, Inc. — — (13,862 ) Net cash provided by (used in) investing activities 15,496 7,335 (3,035 ) Financing Activities: Common stock repurchased (30,638 ) — — Cash dividends paid (3,176 ) — — Retired stock (205 ) (494 ) (569 ) Exercised stock options 1,173 651 3,068 Net cash provided by (used in) financing activities (32,846 ) 157 2,499 Net Increase (Decrease) in Cash and Cash Equivalents (14,561 ) 11,964 4,499 Cash and Cash Equivalents at Beginning of Period 23,042 11,078 6,579 Cash and Cash Equivalents at End of Period $ 8,481 $ 23,042 $ 11,078 |
Fair Value of Financial Instrum
Fair Value of Financial Instruments | 12 Months Ended |
Jun. 30, 2019 | |
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 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 June 30, 2019, 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. The Company does not have any liabilities recorded at fair value. Investment Securities Available for Sale Securities available for sale are valued on a recurring basis at quoted market prices where available. If quoted market prices are not available, fair values are based on quoted prices of comparable securities. Level 1 securities include those traded on an active exchange, such as the New York Stock Exchange or U.S. Treasury securities that are traded by dealers or brokers in active over-the-counter markets and money market funds. Level 2 securities include mortgage-backed securities and debentures issued by government sponsored enterprises, municipal bonds, and corporate debt securities. 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. 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: June 30, 2019 Description Total Level 1 Level 2 Level 3 U.S Government Agencies $ 15,210 $ — $ 15,210 $ — Residential Mortgage-backed Securities of U.S. Government Agencies and Government sponsored Enterprises 75,180 — 75,180 — Municipal Bonds 25,312 — 25,312 — Corporate Bonds 6,084 — 6,084 — Total $ 121,786 $ — $ 121,786 $ — 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 $ — Financial Assets Recorded at Fair Value on a Nonrecurring Basis The following table presents financial assets measured at fair value on a non-recurring basis at the dates indicated: June 30, 2019 Description Total Level 1 Level 2 Level 3 Impaired loans $ 9,071 $ — $ — $ 9,071 REO 1,804 — — 1,804 Total $ 10,875 $ — $ — $ 10,875 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 June 30, 2019 is shown in the table below: Fair Value at June 30, 2019 Valuation Techniques Unobservable Input Range Weighted Average Nonrecurring measurements: Impaired loans, net $ 9,071 Discounted appraisals and discounted cash flows Collateral discounts: Discount spread: 0% - 16% 1% - 3% 1% REO $ 1,804 Discounted Appraisals Collateral discounts 8% - 41% 12% The stated carrying value and estimated fair value amounts of financial instruments as of June 30, 2019 and June 30, 2018 , are summarized below: June 30, 2019 Carrying Value Fair Value Level 1 Level 2 Level 3 Assets: Cash and interest-bearing deposits $ 71,043 $ 71,043 $ 71,043 $ — $ — Commercial paper 241,446 241,446 241,446 — — Certificates of deposit in other banks 52,005 52,005 — 52,005 — Securities available for sale 121,786 121,786 — 121,786 — Loans, net 2,683,761 2,604,827 — — 2,604,827 Loans held for sale 18,175 18,591 — — 18,591 FHLB stock 31,969 31,969 31,969 — — FRB stock 7,335 7,335 7,335 — — SBIC investments 6,074 6,074 — — 6,074 Accrued interest receivable 10,533 10,533 350 750 9,433 Liabilities: Noninterest-bearing and NOW deposits 746,617 746,617 — 746,617 — Money market accounts 691,172 691,172 — 691,172 — Savings accounts 177,278 177,278 — 177,278 — Certificates of deposit 712,190 712,485 — 712,485 — Borrowings 680,000 688,418 — 688,418 — Accrued interest payable 2,252 2,252 — 2,252 — 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 investments 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 include approximately $628,572 and $751,324 of commitments to originate loans, undisbursed portions of interim construction loans, and unused lines of credit at June 30, 2019 and June 30, 2018 (see Note 18). 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, 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 June 30, 2019 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. 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 U.S. Small Business Administration ("SBA") loans held for sale is based on what investors are currently offering for loans with similar characteristics. FHLB and FRB stock – No ready market exists for these stocks and they have no quoted market value. However, redemption of these stocks has 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 investments 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 as of June 30, 2019 and June 30, 2018 . 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 | 12 Months Ended |
Jun. 30, 2019 | |
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 year ended June 30, 2019 are presented under Topic 606, while the years ended June 30, 2018 and 2017 reflects an offset of $ 660 and $ 667 , respectively, of interchange costs against interchange income. Topic 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. Topic 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 Topic 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 Topic 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 Topic 606 for the periods indicated: Year Ended June 30, 2019 2018 2017 In-scope of Topic 606: Service charges on deposit accounts $ 3,978 $ 3,674 $ 3,309 Fees, interchange, and other service charges 6,377 5,576 4,747 Other 775 909 943 Noninterest income (in-scope of Topic 606) 11,130 10,159 8,999 Noninterest income (out-of-scope of Topic 606) 11,765 8,813 7,108 Total noninterest income $ 22,895 $ 18,972 $ 16,107 The following is a description of revenue streams accounted for under Topic 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. |
Unaudited Interim Financial Inf
Unaudited Interim Financial Information | 12 Months Ended |
Jun. 30, 2019 | |
Quarterly Financial Information Disclosure [Abstract] | |
Unaudited Interim Financial Information | Unaudited Interim Financial Information The unaudited statements of income for each of the quarters during the fiscal years ended June 30, 2019 and 2018 are summarized below: Three months ended June 30, March 31, 2019 December 31, 2018 September 30, 2018 Interest and dividend income $ 35,855 $ 34,724 $ 34,400 $ 32,280 Interest expense 8,931 8,145 7,299 6,008 Net interest income 26,924 26,579 27,101 26,272 Provision for loan losses 200 5,500 — — Net interest income after provision for loan losses 26,724 21,079 27,101 26,272 Noninterest income 6,811 5,386 5,085 5,613 Noninterest expense 23,415 22,978 21,858 21,883 Net income before provision for income taxes 10,120 3,487 10,328 10,002 Income tax expense 2,107 185 2,287 2,212 Net income $ 8,013 $ 3,302 $ 8,041 $ 7,790 Net income per common share: Basic $ 0.45 $ 0.19 $ 0.45 $ 0.43 Diluted $ 0.44 $ 0.18 $ 0.43 $ 0.41 Three months ended June 30, March 31, 2018 December 31, 2017 September 30, 2017 Interest and dividend income $ 30,693 $ 29,265 $ 28,848 $ 27,896 Interest expense 5,103 4,036 3,618 3,315 Net interest income 25,590 25,229 25,230 24,581 Provision for loan losses — — — — Net interest income after provision for loan losses 25,590 25,229 25,230 24,581 Noninterest income 5,382 4,926 4,787 4,577 Noninterest expense 21,754 21,321 21,175 21,081 Net income before provision for income taxes 9,218 8,834 8,842 8,077 Income tax expense 2,011 2,707 19,508 2,510 Net income (loss) $ 7,207 $ 6,127 $ (10,666 ) $ 5,567 Net income (loss) per common share: Basic $ 0.40 $ 0.34 $ (0.59 ) $ 0.31 Diluted $ 0.38 $ 0.32 $ (0.59 ) $ 0.30 |
Subsequent Events
Subsequent Events | 12 Months Ended |
Jun. 30, 2019 | |
Subsequent Events [Abstract] | |
Subsequent Events | Subsequent Events In September 2019, the Company decided to sell between $ 200 million and $ 300 million of one-to-four family loans to a third party. Once specifically identified, these loans will be moved from total loans to loans held for sale at the lower of cost or market. The transaction is anticipated to close during the second quarter of fiscal 2020 at a gain. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Jun. 30, 2019 | |
Accounting Policies [Abstract] | |
Business | Business 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 its consolidated subsidiary, unless the context otherwise requires. HomeTrust is a bank holding company primarily engaged in the business of planning, directing, and coordinating the business activities of the Bank. The Bank is a North Carolina state chartered bank and provides a wide range of retail and commercial banking products within its geographic footprint, which includes: North Carolina (the Asheville metropolitan area, Greensboro/"Piedmont" region, Charlotte, and Raleigh/Cary), Upstate South Carolina (Greenville), East Tennessee (Kingsport/Johnson City/Bristol, Knoxville, and Morristown) and Southwest Virginia (the Roanoke Valley). The Bank operates under a single set of corporate policies and procedures and is recognized as a single banking segment for financial reporting purposes. |
Accounting Principles | Accounting Principles The accounting and reporting policies of the Company conform to accounting principles generally accepted in the United States (“US GAAP”). |
Principles of Consolidation and Subsidiary Activities | Principles of Consolidation and Subsidiary Activities The accompanying consolidated financial statements include the accounts of HomeTrust, the Bank, and its wholly-owned subsidiary, Western North Carolina Service Corporation (“WNCSC”) at or for the years ended June 30, 2019 , 2018 , and 2017 . WNCSC owns office buildings in Asheville, North Carolina that are leased to the Bank. All intercompany items have been eliminated. |
Reclassifications | Reclassifications 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. |
Use of Estimates in Financial Statements | Use of Estimates in Financial Statements The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. |
Cash and Cash Equivalents | Cash and Cash Equivalents Cash and cash equivalents include cash and interest-bearing deposits with initial terms to maturity of 90 days or less. |
Commercial Paper | Commercial Paper Commercial paper includes highly liquid short-term debt of investment graded corporations with maturities less than 270 days. These instruments are typically purchased at a discount based on prevailing interest rates and do not exceed $ 15.0 million per issuer. |
Debt Securities | Debt Securities The Company classifies debt securities as trading, available for sale, or held to maturity. Securities available for sale are carried at fair value. These securities are used to execute asset/liability management strategies, manage liquidity, and leverage capital, and therefore may be sold prior to maturity. Adjustments for unrealized gains or losses, net of the income tax effect, are made to accumulated other comprehensive income, a separate component of total stockholders’ equity. Securities held to maturity are stated at cost, net of unamortized balances of premiums and discounts. When these securities are purchased, the Company intends to and has the ability to hold such securities until maturity. Declines in the fair value of individual securities available for sale or held to maturity below their cost that are other-than-temporary result in write-downs of the individual securities to their fair value. The related write-downs are included in earnings as realized losses. In estimating other-than-temporary impairment losses, the Company considers among other things, (i) the length of time and the extent to which the fair value has been less than cost, (ii) the financial condition and near-term prospects of the issuer, and (iii) the intent and ability of the Company to retain its investment in the issuer for a period of time sufficient to allow for any anticipated recovery of the unrealized loss, and in the case of debt securities, whether it is more likely than not that the Company will be required to sell the security prior to a recovery. Premiums and discounts are amortized or accreted over the life of the security as an adjustment to yield. Dividend and interest income are recognized when earned. Gains or losses on the sale of securities are recognized on a specific identification, trade date basis. |
Loans | Loans Portfolio loans are carried at their outstanding principal amount, less unearned income and deferred nonrefundable loan fees, net of certain origination costs. Interest income is recorded as earned on an accrual basis based on the contractual rate and the outstanding balance, except for nonaccruing loans where interest is recorded as earned on a cash basis. Net deferred loan origination fees/costs are deferred and amortized to interest income over the life of the related loan. Acquired Loans Purchased loans are recorded at their fair value at the acquisition date. Credit discounts are included in the determination of fair value; therefore, an allowance for loan and lease losses is not recorded at the acquisition date. Acquired loans are evaluated upon acquisition and classified as either purchased impaired or purchased non-impaired. Purchased impaired loans reflect credit deterioration since origination such that it is probable at acquisition that the Company will be unable to collect all contractually required payments. The cash flows expected to be received over the life of the loans were estimated by management. These cash flows were provided to third party analysts to calculate carrying values of the loans, book yields, effective interest income and impairment, if any, based on actual and projected events. Default rates, loss severity, and prepayment speed assumptions will be periodically reassessed to update our expectation of future cash flows. The excess of the cash flows expected to be collected over a loan's carrying value is considered to be the accretable yield and is recognized as interest income over the estimated life of the loan using the effective yield method. The accretable yield may change due to changes in the timing and amounts of expected cash flows. Changes in the accretable yield are disclosed quarterly. The excess of the undiscounted contractual balances due over the cash flows expected to be collected is considered to be the nonaccretable difference. The nonaccretable difference represents our estimate of the credit losses expected to occur and was considered in determining the fair value of the loans as of the acquisition date. Subsequent to the acquisition date, any increases in expected cash flows over those expected at purchase date in excess of fair value are adjusted through a change to the accretable yield on a prospective basis. Any subsequent decreases in expected cash flows attributable to credit deterioration are recognized by recording a provision for loan losses. The purchased impaired loans acquired are and will continue to be subject to the Company's internal and external credit review and monitoring. For purchased non-impaired loans, the difference between the fair value and unpaid principal balance of the loan at the acquisition date is amortized or accreted to interest income over the life of the loans. Loan Segments and Classes The Company’s loan portfolio is grouped into two segments (retail consumer loans and commercial loans) and into various classes within each segment. The Company originates, services, and manages its loans based on these segments and classes. The Company’s portfolio segments and classes within those segments are subject to risks that could have an adverse impact on the credit quality of the loan portfolio. Management identified the risks described below as significant risks that are generally similar among the loan segments and classes. Retail Consumer loan segment The Company underwrites its retail consumer loans using automated credit scoring and analysis tools. These credit scoring tools take into account factors such as payment history, credit utilization, length of credit history, types of credit currently in use, and recent credit inquiries. To the extent that the loan is secured by collateral, the value of the collateral is also evaluated. Common risks to each class of retail consumer loans include general economic conditions within the Company’s markets, such as unemployment and potential declines in collateral values, and the personal circumstances of the borrowers. In addition to these common risks for the Company’s retail consumer loans, various retail consumer loan classes may also have certain risks specific to them. One-to-four family and construction and land/lot loans are to individuals and are typically secured by one-to-four family residential property, undeveloped land, and partially developed land in anticipation of pending construction of a personal residence. Significant and rapid declines in real estate values can result in residential mortgage loan borrowers having debt levels in excess of the current market value of the collateral, which can lead to higher levels of foreclosures. Construction and land/lot loans may experience delays in completion and cost overruns that exceed the borrower’s financial ability to complete the project. Such cost overruns can result in foreclosure of partially completed and unmarketable collateral. Originated home equity lines of credit ("HELOCs") are often secured by second liens on residential real estate, thereby making such loans particularly susceptible to declining collateral values. A substantial decline in collateral value could render the Company’s second lien position to be effectively unsecured. Additional risks include lien perfection inaccuracies and disputes with first lien holders that may further weaken collateral positions. Further, the open-end structure of these loans creates the risk that customers may draw on the lines in excess of the collateral value if there have been significant declines since origination. In addition, the Company purchases certain HELOCs from a third party. The credit risk characteristics are different for these loans since they were not originated by the Company and the collateral is located outside the Company’s market area, primarily in several western states. The Company established an allowance for loan losses based on the historical losses of the portfolio. The Company monitors the performance of these loans and adjusts the allowance for loan losses as necessary. Indirect auto finance loans are primarily for new and used personal automobiles originated by franchised and independent auto dealers within the Company's geographic footprint. The bank-dealer relationship is governed by contract, which provides warranties and representations, payment schedules, and rights and remedies upon breach. The underwriting process and standards are maintained by the Company and implemented via an automated decision tool, which incorporates the borrower's credit score, loan to value ratio, and terms of the loan to determine the borrower's creditworthiness. Consumer loans include loans secured by deposit accounts or personal property such as automobiles, boats, and motorcycles, as well as unsecured consumer debt. The value of underlying collateral within this class is especially volatile due to potential rapid depreciation in values since date of loan origination in excess of principal repayment. Commercial loan segment The Company’s commercial loans are centrally underwritten based primarily on the customer’s ability to generate the required cash flow to service the debt in accordance with the contractual terms and conditions of the loan agreement. The Company’s commercial lenders and underwriters work to understand the borrower’s businesses and management experiences. The majority of the Company’s commercial loans are secured by collateral, so collateral values are important to the transaction. In commercial loan transactions where the principals or other parties provide personal guarantees, the Company’s commercial lenders and underwriters analyze the relative financial strength and liquidity of each guarantor. Risks that are common to the Company’s commercial loan classes include general economic conditions, demand for the borrowers’ products and services, the personal circumstances of the principals, and reductions in collateral values. In addition to these common risks for the Company’s commercial loans, the various commercial loan classes also have certain risks specific to them. Construction and development loans are highly dependent on the supply and demand for commercial real estate in the Company’s markets as well as the demand for the newly constructed residential and commercial properties and lots being developed by the Company’s commercial loan customers. Prolonged deterioration in demand could result in significant decreases in the underlying collateral values and make repayment of the outstanding loans more difficult for the Company’s commercial borrowers. Commercial real estate and commercial and industrial loans are primarily dependent on the ability of the Company’s commercial loan customers to achieve business results consistent with those projected at loan origination resulting in cash flow sufficient to service the debt. To the extent that a borrower’s actual business results significantly underperform the original projections, the ability of that borrower to service the Company’s loan on a basis consistent with the contractual terms may be at risk. While these loans and leases are generally secured by real property, personal property, or business assets such as inventory or accounts receivable, it is possible that the liquidation of the collateral will not fully satisfy the obligation. Municipal leases are primarily made to volunteer fire departments and depend on the tax revenues received from the county or municipality. These leases are mainly secured by vehicles, fire stations, land, or equipment. The underwriting of the municipal leases is based on the cash flows of the fire department as well as projections of future income. Equipment finance is primarily made up of commercial finance agreements and commercial loans and leases provided by our new Equipment Finance line of business, and primarily for transportation, construction, and manufacturing equipment. The loans have terms on average of five years or less and are secured by the financed equipment. Credit Quality Indicators Loans are monitored for credit quality on a recurring basis and the composition of the loans outstanding by credit quality indicator is provided below. Loan credit quality indicators are developed through review of individual borrowers on an ongoing basis. Generally, loans are monitored for performance on a quarterly basis with the credit quality indicators adjusted as needed. The indicators represent the rating for loans as of the date presented based on the most recent assessment performed. These credit quality indicators are defined as follows: Pass —A pass rated asset is not adversely classified because it does not display any of the characteristics for adverse classification. Special Mention —A special mention asset has potential weaknesses that deserve management’s close attention. If left uncorrected, such potential weaknesses may result in deterioration of the repayment prospects or collateral position at some future date. Special mention assets are not adversely classified and do not warrant adverse classification. Substandard —A substandard asset is inadequately protected by the current net worth and paying capacity of the obligor, or of the collateral pledged, if any. Assets classified as substandard generally have a well-defined weakness, or weaknesses, that jeopardize the liquidation of the debt. These assets are characterized by the distinct possibility of loss if the deficiencies are not corrected. Doubtful —An asset classified doubtful has all the weaknesses inherent in an asset classified substandard with the added characteristic that the weaknesses make collection or liquidation in full highly questionable and improbable, on the basis of currently existing facts, conditions, and values. Loss —Assets classified loss are considered uncollectible and of such little value that their continuing to be carried as an asset is not warranted. This classification is not necessarily equivalent to no potential for recovery or salvage value, but rather that it is not appropriate to defer a full write-off even though partial recovery may be effected in the future. |
Loans Held for Sale | Loans Held for Sale Residential mortgages held for sale are valued at the lower of cost or fair value as determined by outstanding commitments from investors on a “best efforts” basis or current investor yield requirements, calculated on the aggregate loan basis. Beginning in fiscal year 2018, the Company began providing loans guaranteed by the SBA for the purchase of businesses, business startups, business expansion, equipment, and working capital. All SBA loans are underwritten and documented as prescribed by the SBA. SBA loans are generally fully amortizing and have maturity dates and amortizations of up to 25 years. SBA loans are classified as held for sale and are carried at the lower of cost or fair value. The guaranteed portion of the loan is sold and the servicing rights are retained. At the time of the sale, an asset is recorded for the value of the servicing rights and is amortized over the remaining life of the loan on the effective interest method. The servicing asset is included in other assets and the corresponding servicing fees are recorded in noninterest income. A gain is recorded for any premium received in excess of the carrying value of the net assets transferred in the sale and is also included in noninterest income. The portion of SBA loans that are retained are adjusted to fair value and reclassified as a loan held to maturity. The net value of the retained loans is included in the appropriate loan classification for disclosure purposes. Beginning in fiscal year 2019, the Company began originating HELOCs through a third party. These loans are originated in various states outside the Company's geographic footprint, but are underwritten to the Company's underwriting guidelines. The loans are held for sale by the Company over a 90 to 180 day period and are serviced by the third party. The loans are marketed by the third party to investors in pools and once sold the Company recognizes a gain on the sale. |
Allowance for Loan Losses | Allowance for Loan Losses The allowance for loan losses is management’s estimate of probable credit losses that are inherent in the Company’s loan portfolios at the balance sheet date. The allowance increases when the Company provides for loan losses through charges to operating earnings and when the Company recovers amounts from loans previously written down or charged off. The allowance decreases when the Company writes down or charges off loan amounts that are deemed uncollectible. Management determines the allowance for loan losses based on periodic evaluations that are inherently subjective and require substantial judgment because the evaluations require the use of material estimates that are susceptible to significant change. The Company generally uses two allowance methodologies that are primarily based on management’s determination as to whether or not a loan is considered to be impaired. All classified loans above a certain threshold meeting certain criteria are evaluated for impairment on a loan-by-loan basis and are considered impaired when it is probable, based on current information, that the borrower will be unable to pay contractual interest or principal as required by the loan agreement. Impaired loans below the threshold are evaluated as a pool with additional adjustments to the allowance for loan losses. Loans that experience insignificant payment delays and payment shortfalls are not necessarily considered impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment history, and the amount of the shortfall relative to the principal and interest owed. Impaired loans are measured at their estimated net realizable value based on either the value of the loan’s expected future cash flows discounted at the loan’s effective interest rate or on the collateral value, net of the estimated costs of disposal, if the loan is collateral dependent. For loans considered impaired, an individual allowance for loan losses is recorded when the loan principal balance exceeds the estimated net realizable value. For loans not considered impaired, management determines the allowance for loan losses based on estimated loss percentages that are determined by and applied to the various classes of loans that comprise the segments of the Company’s loan portfolio. The estimated loss percentages by loan class are based on a number of factors that include by class (i) average historical losses over the past two years, (ii) levels and trends in delinquencies, impairments, and net charge-offs, (iii) trends in the volume, terms, and concentrations, (iv) trends in interest rates, (v) effects of changes in the Company’s risk tolerance, underwriting standards, lending policies, procedures, and practices, and (vi) national and local business and economic conditions. Future material adjustments to the allowance for loan losses may be necessary due to changing economic conditions or declining collateral values. In addition, bank regulatory agencies, as an integral part of their examination process, periodically review the Company’s allowance for loan losses and may require the Company to make adjustments to the allowance for loan losses based upon judgments that differ significantly from those of management. |
Nonperforming Assets | Nonperforming Assets Nonperforming assets can include loans that are past due 90 days or more based on the loan’s contractual terms and continue to accrue interest, loans on which interest is not being accrued, and REO. |
Loans Past Due 90 Days or More, Nonaccruing, Impaired, or Restructured | Loans Past Due 90 Days or More, Nonaccruing, Impaired, or Restructured The Company’s policies related to when loans are placed on nonaccruing status conform to guidelines prescribed by bank regulatory authorities. Generally, the Company suspends the accrual of interest on loans (i) that are maintained on a cash basis because of the deterioration of the financial condition of the borrower, (ii) for which payment in full of principal or interest is not expected (impaired loans), or (iii) on which principal or interest has been in default for a period of 90 days or more, unless the loan is both well secured and in the process of collection. Under the Company’s cost recovery method, interest income is subsequently recognized only to the extent cash payments are received in excess of principal due. Loans are returned to accruing status when all principal and interest amounts contractually due are brought current and concern no longer exists as to the future collectability of principal and interest, which is generally confirmed when the loan demonstrates performance for six consecutive months or payment cycles. Restructured loans to borrowers who are experiencing financial difficulty, and on which the Company has granted concessions that modify the terms of the loan, are accounted for as troubled debt restructurings (“TDRs”). These loans remain as TDRs until the loan has been paid in full, modified to its original terms, or charged off. The Company may place these loans on accrual or nonaccrual status depending on the individual facts and circumstances of the borrower. Generally, these loans are put on nonaccrual status until there is adequate performance that evidences the ability of the borrower to make the contractual payments. This period of performance is normally at least six months, and may include performance immediately prior to or after the modification, depending on the specific facts and circumstances of the borrower. |
Loan Charge-offs | Loan Charge-offs The Company charges off loan balances, in whole or in part to net realizable value or fair value less costs to sell, when available, verifiable, and documentable information confirms that specific loans, or portions of specific loans, are uncollectible or unrecoverable. For unsecured loans, losses are confirmed when it can be determined that the borrower, or any guarantors, are unwilling or unable to pay the amounts as agreed. When the borrower, or any guarantor, is unwilling or unable to pay the amounts as agreed on a loan secured by collateral and any recovery will be realized upon the sale of the collateral, the loan is deemed to be collateral dependent. Repayments or recoveries for collateral dependent loans are directly affected by the value of the collateral at liquidation. As such, loan repayment can be affected by factors that influence the amount recoverable, the timing of the recovery, or a combination of the two. Such factors include economic conditions that affect the markets in which the loan or its collateral is sold, bankruptcy, repossession and foreclosure laws, and consumer banking regulations. Losses are also confirmed when the loan, or a portion of the loan, is classified as loss resulting from loan reviews conducted by the Company or its bank regulatory examiners. Charge-offs of loans in the commercial loan segment are recognized when the uncollectibility of the loan balance and the inability to recover sufficient value from the sale of any collateral securing the loan is confirmed. The uncollectibility of the loan balance is evidenced by the inability of the commercial borrower to generate cash flows sufficient to repay the loan as agreed causing the loan to become delinquent. For collateral dependent commercial loans, the Company determines the net realizable value of the collateral based on appraisals, current market conditions, and estimated costs to sell the collateral. For collateral dependent commercial loans where the loan balance, including any accrued interest, net deferred fees or costs, and unamortized premiums or discounts, exceeds the net realizable value of the collateral securing the loan, the deficiency is identified as unrecoverable, is deemed to be a confirmed loss, and is charged off. Charge-offs of loans in the retail consumer loan segment are generally confirmed and recognized in a manner similar to charge-offs of loans in the commercial loan segment. Secured retail consumer loans that are identified as uncollectible and are deemed to be collateral dependent are confirmed as loss to the extent the net realizable value of the collateral is insufficient to recover the loan balance. Consumer loans not secured by real estate that become 90 days past due are charged off to the extent that the fair value of any collateral, less estimated costs to sell the collateral, is insufficient to recover the loan balance. Consumer loans secured by real estate that become 120 days past due are charged off to the extent that the fair value of the real estate securing the loan, less estimated costs to sell the collateral, is insufficient to recover the loan balance. Loans to borrowers in bankruptcy are subject to modification by the bankruptcy court and are charged off to the extent that the fair value of any collateral securing the loan, less estimated costs to sell the collateral, is insufficient to recover the loan balance, unless the Company expects repayment is likely to occur. Such loans are charged off within 60 days of the receipt of notification from a bankruptcy court or when the loans become 120 days past due, whichever is shorter. |
Real Estate Owned | Real Estate Owned REO consists of real estate acquired as a result of customers’ loan defaults. REO is stated at the fair value of the property net of the estimated costs of disposal with a charge to the allowance for loan losses upon foreclosure, if necessary. Any write-downs subsequent to foreclosure are charged against operating earnings. To the extent recoverable, costs relating to the development and improvement of property are capitalized, whereas those costs relating to holding the property are charged to expense. |
Premises and Equipment | Premises and Equipment Premises and equipment are stated at cost less accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful lives. Leasehold improvements are amortized over the lives of the respective leases or the estimated useful life of the leasehold improvement, whichever is less. Maintenance and repair costs are expensed as incurred. Capitalized leases are amortized using the same methods as premises and equipment over the estimated useful lives or lease terms, whichever is less. Obligations under capital leases are amortized using the interest method to allocate payments between principal reduction and interest expense. |
Other Investments, at cost | Other Investments, at cost As a requirement for membership, the Bank invests in stock of the Federal Home Loan Bank of Atlanta ("FHLB") and the Federal Reserve Bank of Richmond ("Federal Reserve Bank" or "FRB"). These investments are carried at cost due to the redemption provisions of these entities and the restricted nature of the securities. Small Business Investment Companies ("SBIC") are considered equity securities without a readily determinable fair value. Prior to the adoption of ASU 2016-01 in the first quarter of fiscal 2019, SBICs were maintained in other assets. Beginning July 1, 2018, the SBIC investments are accounted for at cost less impairment, plus or minus changes resulting from observable price changes. Management reviews for impairment based on the ultimate recoverability of the cost basis of these investments. |
Business Combinations | Business Combinations The Company uses the acquisition method of accounting for all business combinations. An acquirer must be identified for each business combination, and the acquisition date is the date the acquirer achieves control. The acquisition method of accounting requires the Company as acquirer to recognize the fair value of assets acquired and liabilities assumed at the acquisition date as well as recognize goodwill or a gain from a bargain purchase, if appropriate. Any acquisition-related costs and restructuring costs are recognized as period expenses as incurred. |
Goodwill | Goodwill Goodwill represents the excess of the purchase price over the sum of the estimated fair values of the tangible and identifiable intangible assets acquired less the estimated fair value of the liabilities assumed in a business combination. Goodwill has an indefinite useful life and is evaluated for impairment annually in the fourth quarter or more frequently if events and circumstances indicate that the asset might be impaired. An impairment loss is recognized to the extent that the carrying amount exceeds the asset’s fair value. In testing goodwill for impairment, we have the option to assess either qualitative or quantitative factors to determine whether the existence of events or circumstances leads to a determination that it is more likely than not that the estimated fair value of a reporting unit is less than its carrying amount. If we elect to perform a qualitative assessment and determine that an impairment is more likely than not, we are then required to perform a quantitative impairment test, otherwise no further analysis is required. Under the quantitative impairment test, the evaluation involves comparing the current fair value of each reporting unit to its carrying value, including goodwill. If the estimated fair value of a reporting unit exceeds its carrying value, goodwill is considered not to be impaired. If the carrying value exceeds estimated fair value an impairment charge is recognized for the difference, but limited by the amount of goodwill allocated to that reporting unit. The Company uses a combination of the market and income approaches to estimate the fair value of its reporting unit. All inputs are evaluated by management at the evaluation date of April 1st and reviewed again at year end to ensure no significant changes occurred that could indicate impairment. Subsequent reversal of goodwill impairment losses is not permitted. |
Core Deposit Intangibles | Core Deposit Intangibles Core deposit intangibles represent the estimated value of long-term deposit relationships acquired in business combinations. These core deposit premiums are amortized using an accelerated method over the estimated useful lives of the related deposits typically between five and ten years. The estimated useful lives are periodically reviewed for reasonableness. |
Income Taxes | Income Taxes The Company accounts for income taxes using the asset and liability 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 and operating loss and tax credit carryforwards. 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. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. Deferred tax assets are reduced, if necessary, by the amount of such benefits that are not expected to be realized based upon available evidence. See Note 13 for additional information. The Company recognizes interest and penalties accrued relative to unrecognized tax benefits in its respective federal or state income taxes accounts. |
Employee Benefit Plans | Employee Benefit Plans The HomeTrust Bank KSOP Plan ("KSOP") is comprised of two components, the 401(k) Plan and the ESOP. The KSOP benefits employees with at least 1000 hours of service during a 12 -month period and who have attained age 21 . Under the 401(k), the Company matches employee contributions at 50% of employee deferrals up to 6% of each employee’s compensation. The Company may also make discretionary profit sharing contributions for the benefit of all eligible participants as long as total contributions do not exceed applicable limitations. Employees become fully vested in the Company’s contributions after six years of service. Under the ESOP, the amount of the Bank's annual contribution is discretionary, however it must be sufficient to pay the annual loan payment to the Company. Shares released are allocated to each eligible participant based on the ratio of each participant’s compensation, as defined in the ESOP, to the total compensation of all eligible plan participants. Forfeited shares are reallocated among other participants in the Plan. At the discretion of the Bank, cash dividends, when paid on allocated shares, are distributed to participants’ accounts, paid in cash to the participants, or used to repay the principal and interest on the ESOP loan used to acquire Company stock on which dividends were paid. Cash dividends on unallocated shares are used to repay the outstanding debt of the ESOP. It is anticipated that the Bank will make contributions to the ESOP in amounts necessary to amortize the ESOP loan payable to the Company over a 20 -year period. Unearned ESOP shares are shown as a reduction of stockholders’ equity. The Company recognizes compensation expense equal to the fair value of the Company’s ESOP shares during the periods in which they become committed to be released. To the extent that the fair value of the Company’s ESOP shares differs from the cost of such shares, the differential is recognized as additional paid in capital. The Company recognizes a tax deduction equal to the cost of the shares released. Because the ESOP is internally leveraged through a loan from the Company to the ESOP, the loan receivable by the Company from the ESOP is not reported as an asset nor is the debt of the ESOP shown as a liability in the consolidated financial statements. |
Equity Incentive Plan | Equity Incentive Plan The Company issues restricted stock, restricted stock units, and stock options under the HomeTrust Bancshares, Inc. 2013 Omnibus Incentive Plan (“2013 Omnibus Incentive Plan”) to key officers and outside directors. In accordance with the requirements of the Financial Accounting Standards Board (the "FASB") Accounting Standards Codification (“ASC”) 718, Compensation – Stock Compensation, the Company has adopted a fair value based method of accounting for employee stock compensation plans, whereby compensation cost is measured based on the fair value of the award as of the grant date and recognized over the vesting period. The Company accounts for forfeitures as they occur. |
Comprehensive Income | Comprehensive Income Comprehensive income consists of net income and net unrealized gains (losses) on securities available for sale and is presented in the consolidated statements of comprehensive income. |
Derivative Instruments and Hedging | Derivative Instruments and Hedging The Company recognizes all derivatives as either assets or liabilities in the balance sheet, and measures those instruments at fair value. Changes in the fair value of those derivatives are reported in current earnings or other comprehensive income depending on the purpose for which the derivative is held and whether the derivative qualifies for hedge accounting. Loan commitments related to the origination or acquisition of mortgage loans that will be held for sale must be accounted for as derivative instruments. The Company enters into commitments to originate loans whereby the interest rate on the loan is determined prior to funding (rate lock commitments). The Company also enters into forward sales commitments for the mortgage loans underlying the rate lock commitments. The fair values of these two derivative financial instruments are collectively insignificant to the consolidated financial statements. |
Net Income Per Share | Net Income Per Share Per the provisions of ASC 260, Earnings Per Share, basic earnings per share are computed by dividing net income by the weighted-average number of common shares outstanding for the year, less the average number of nonvested restricted stock awards. Diluted earnings per share reflect the potential dilution from the issuance of additional shares of common stock caused by the exercise of stock options and restricted stock awards. In addition, nonvested share-based payment awards that contain nonforfeitable rights to dividends or dividend equivalents are considered participating securities and are included in the computation of earnings per share pursuant to the two-class method. The two-class method is an earnings allocation formula that determines earnings per share for each class of common stock and participating security according to dividends declared (or accumulated) and participation rights in undistributed earnings. ESOP shares are considered outstanding for basic and diluted earnings per share when the shares are committed to be released. Net income is allocated between the common stock and participating securities pursuant to the two-class method, based on their rights to receive dividends, participate in earnings, or absorb losses. See Note 16 for further discussion on the Company’s earnings per share. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements In August 2015, the FASB issued Accounting Standard Update ("ASU") No. 2015-14, “Revenue from Contracts with Customers (Topic 606)”, which defers the effective date of 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 22 - 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) 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 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 21 - Fair Value of Financial Instruments." In February 2016, the FASB issued ASU 2016-02, "Leases (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 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. The effect of the adoption of these ASUs will depend on leases at time of adoption. We expect to report between $ 4.0 million and $ 6.0 million 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 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. The Company adopted this ASU on January 1, 2019. The adoption did not have a material effect 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 June 2018, the FASB issued ASU No. 2018-07, "Compensation - Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting." This ASU was issued to expand the scope of Topic 718 to include share-based payment transactions for acquiring goods and services from nonemployees. Previously, these awards were recorded at the fair value of consideration received or the fair value of the equity instruments issued and was measured at the earlier of the commitment date or the date performance was completed. The amendments in this ASU require nonemployee share-based payment awards to be measured at the grant-date fair value of the equity instrument. This ASU is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. Early adoption is permitted, but no earlier than an entity's adoption of Topic 606. The adoption of ASU No. 2018-07 is not expected to have a material impact on the Company's Consolidated Financial Statements. 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. In March 2019, the FASB issued ASU 2019-01, "Leases (Topic 842): Codification Improvements." The amendments in this update include the following items: i) determining the fair value of the underlying asset by lessors that are not manufacturers or dealers; ii) requiring cash received from lessors from sales-type and direct financing leases to be presented in the cash flow statement within investing activities; and iii) clarifying interim disclosure requirements. The effective date and transition requirements for the first and second items of 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 effective date and transition requirements for the third item of this ASU is the same as ASU 2016-02. The adoption of ASU No. 2019-01 is not expected to have a material impact on the Company's Consolidated Financial Statements. In April 2019, the FASB issued ASU 2019-04, "Codification Improvements to Topic 326, Financial Instruments-Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments." The amendments in this update are part of the FASB's ongoing project to improve codification and correcting unintended application. The items within this ASU are not expected to have significant effect on current accounting practice. The effective date and transition requirements for the amendments to Financial Instruments (ASU 2016-01) are effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2019 and early adoption is permitted. The effective date and transition requirements for the amendments to Financial Instruments-Credit Losses (ASU 2016-13) are the same as ASU 2016-13 noted above. The effective date and transition requirements for the amendments to Derivatives and Hedging (ASU 2017-12) are the same as ASU 2017-12 noted above.The adoption of ASU No. 2019-04 is not expected to have a material impact on the Company's Consolidated Financial Statements. In May 2019, the FASB issued ASU 2019-05, "Financial Instruments - Credit Losses (Topic 326): Targeted Transition Relief." The amendments in this update allow companies to irrevocably elect, upon the adoption of ASU 2016-13, the fair value option for financial instruments that i) were previously recorded at amortized cost and ii) are within the scope of the credit losses guidance in ASC 326-20, iii) are eligible for the fair value option under ASC 825-10, and iv) are not held-to-maturity debt securities. The effective date and transition requirements for this ASU is the same as ASU 2016-13. The adoption of ASU No. 2019-05 is not expected to have a material impact on the Company's Consolidated Financial Statements. |
Business Combinations (Tables)
Business Combinations (Tables) | 12 Months Ended |
Jun. 30, 2019 | |
Business Combinations [Abstract] | |
Schedule of Business Acquisitions, by Acquisition | The following table presents the consideration paid by the Company in the acquisition of TriSummit and the assets acquired and liabilities assumed as of January 1, 2017: As Recorded by TriSummit Fair Value and Other Merger Related Adjustments As Recorded by the Company Consideration Paid: Cash paid including cash in lieu of fractional shares $ 16,083 Fair value of HomeTrust common stock at $25.90 per share 20,043 Total consideration $ 36,126 Assets: Cash and cash equivalents $ 5,498 $ — $ 5,498 Certificates of deposit in other banks 250 — 250 Investment securities 58,728 (203 ) 58,525 Other investments, at cost 2,614 — 2,614 Loans, net 261,926 (3,867 ) 258,059 Premises and equipment, net 12,841 (2,419 ) 10,422 REO 1,633 (122 ) 1,511 Deferred income taxes 2,653 4,462 7,115 Bank owned life insurance 3,762 — 3,762 Core deposit intangibles 1,285 1,575 2,860 Other assets 1,453 (105 ) 1,348 Total assets acquired $ 352,643 $ (679 ) $ 351,964 Liabilities: Deposits $ 279,647 $ 587 280,234 Borrowings 47,453 16 47,469 Other liabilities 675 — 675 Total liabilities assumed $ 327,775 $ 603 $ 328,378 Net identifiable assets acquired over liabilities assumed $ 24,868 $ (1,282 ) $ 23,586 Goodwill $ 12,540 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period | The carrying amount of acquired loans from TriSummit as of January1, 2017 consisted of purchased performing loans and Purchase Credit Impaired ("PCI") loans as detailed in the following table: Purchased Performing PCI Total Loans Retail Consumer Loans: One-to-four family $ 75,179 $ 3,753 $ 78,932 HELOCs 6,479 2 6,481 Construction and land/lots 15,591 — 15,591 Consumer 1,686 17 1,703 Commercial: Commercial real estate 107,880 3,494 111,374 Construction and development 15,253 142 15,395 Commercial and industrial 28,295 288 28,583 Total $ 250,363 $ 7,696 $ 258,059 The following table presents the performing loans receivable purchased from TriSummit at January 1, 2017, the acquisition date: Contractually required principal payments receivable $ 255,852 Adjustment for credit, interest rate, and liquidity 5,489 Balance of purchased loans receivable $ 250,363 The following table presents the PCI loans acquired from TriSummit at January 1, 2017, the acquisition date: Contractually required principal and interest payments receivable $ 11,474 Amounts not expected to be collected - nonaccretable difference 2,490 Estimated payments expected to be received 8,984 Accretable yield 1,288 Fair value of PCI loans $ 7,696 |
Debt Securities (Tables)
Debt Securities (Tables) | 12 Months Ended |
Jun. 30, 2019 | |
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: June 30, 2019 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value U.S. Government Agencies $ 15,099 $ 122 $ (11 ) $ 15,210 Residential Mortgage-backed Securities of U.S. Government Agencies and Government-Sponsored Enterprises 74,778 586 (184 ) 75,180 Municipal Bonds 24,896 423 (7 ) 25,312 Corporate Bonds 6,061 43 (20 ) 6,084 Total $ 120,834 $ 1,174 $ (222 ) $ 121,786 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. June 30, 2019 Amortized Cost Estimated Fair Value Due within one year $ 5,350 $ 5,359 Due after one year through five years 30,526 30,784 Due after five years through ten years 5,538 5,798 Due after ten years 4,642 4,665 Mortgage-backed securities 74,778 75,180 Total $ 120,834 $ 121,786 June 30, 2018 Amortized Cost Estimated Fair Value Due within one year $ 28,728 $ 28,573 Due after one year through five years 41,273 40,663 Due after five years through ten years 5,749 5,829 Due after ten years 9,306 9,266 Mortgage-backed securities 71,949 70,599 Total $ 157,005 $ 154,930 |
Schedule of Gross Proceeds and Gross Realized Gains and Losses from Sales of Securities | Gross proceeds and gross realized gains and losses from sales of securities recognized in net income follow: June 30, 2019 2018 2017 Gross proceeds from sales of securities $ — $ — $ 19,279 Gross realized gains from sales of securities — — 70 Gross realized losses from sales of securities — — (48 ) |
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 June 30, 2019 and June 30, 2018 were as follows: June 30, 2019 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 $ — $ — $ 6,988 $ (11 ) $ 6,988 $ (11 ) Residential Mortgage-backed Securities of U.S. Government Agencies and Government-Sponsored Enterprises 1,144 (3 ) 24,242 (181 ) 25,386 (184 ) Municipal Bonds — — 4,895 (7 ) 4,895 (7 ) Corporate Bonds 393 (5 ) 3,630 (15 ) 4,023 (20 ) Total $ 1,537 $ (8 ) $ 39,755 $ (214 ) $ 41,292 $ (222 ) 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) | 12 Months Ended |
Jun. 30, 2019 | |
Investments, All Other Investments [Abstract] | |
Investment | Other investments, at cost consist of the following at the dates indicated: June 30, 2019 June 30, 2018 FHLB of Atlanta stock $ 31,969 $ 29,907 FRB stock 7,335 7,307 Small Business Investment Companies ("SBIC") investments 6,074 4,717 Total $ 45,378 $ 41,931 |
Loans (Tables)
Loans (Tables) | 12 Months Ended |
Jun. 30, 2019 | |
Receivables [Abstract] | |
Schedule of Accounts, Notes, Loans and Financing Receivable | Loans consist of the following at the dates indicated: June 30, June 30, Retail consumer loans: One-to-four family $ 660,591 $ 664,289 HELOCs - originated 131,095 137,564 HELOCs - purchased 116,972 166,276 Construction and land/lots 80,602 65,601 Indirect auto finance 153,448 173,095 Consumer 19,756 12,379 Total retail consumer loans 1,162,464 1,219,204 Commercial loans: Commercial real estate 927,261 857,315 Construction and development 210,916 192,102 Commercial and industrial 160,471 135,336 Equipment finance 132,058 13,487 Municipal leases 112,016 109,172 Total commercial loans 1,542,722 1,307,412 Total loans 2,705,186 2,526,616 Deferred loan costs (fees), net 4 (764 ) Total loans, net of deferred loan fees 2,705,190 2,525,852 Allowance for loan and lease losses (21,429 ) (21,060 ) Net loans $ 2,683,761 $ 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 follows: Pass Special Mention Substandard Doubtful Loss Total June 30, 2019 Retail consumer loans: One-to-four family $ 644,159 $ 2,089 $ 8,072 $ 384 $ 19 $ 654,723 HELOCs - originated 129,775 111 976 — 8 130,870 HELOCs - purchased 116,306 — 666 — — 116,972 Construction and land/lots 79,995 71 164 — — 80,230 Indirect auto finance 152,393 13 1,042 — 153,448 Consumer 18,601 656 491 3 5 19,756 Commercial loans: Commercial real estate 901,214 8,066 10,306 — — 919,586 Construction and development 207,827 790 1,357 1 — 209,975 Commercial and industrial 157,325 877 600 — — 158,802 Equipment finance 131,674 — 384 — — 132,058 Municipal leases 111,721 295 — — — 112,016 Total loans $ 2,650,990 $ 12,968 $ 24,058 $ 388 $ 32 $ 2,688,436 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 131,690 1,279 414 — — 133,383 Equipment finance 13,487 — — — — 13,487 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 PCI loans by segment, class, and risk grade at the dates indicated follows: Pass Special Mention Substandard Doubtful Loss Total June 30, 2019 Retail consumer loans: One-to-four family $ 4,124 $ 248 $ 1,496 $ — $ — $ 5,868 HELOCs - originated 225 — — — — 225 Construction and land/lots 142 — 230 — — 372 Commercial loans: Commercial real estate 4,503 1,903 1,300 — — 7,706 Construction and development 453 — 488 — — 941 Commercial and industrial 1,666 — — — 3 1,669 Total loans $ 11,113 $ 2,151 $ 3,514 $ — $ 3 $ 16,781 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 June 30, 2019 Retail consumer loans: One-to-four family $ 1,615 $ 1,389 $ 3,004 $ 657,587 $ 660,591 HELOCs - originated 226 208 434 130,661 131,095 HELOCs - purchased — 485 485 116,487 116,972 Construction and land/lots 138 6 144 80,458 80,602 Indirect auto finance 459 237 696 152,752 153,448 Consumer 6 31 37 19,719 19,756 Commercial loans: Commercial real estate 2,279 516 2,795 924,466 927,261 Construction and development — 1,133 1,133 209,783 210,916 Commercial and industrial 207 99 306 160,165 160,471 Equipment finance 649 384 1,033 131,025 132,058 Municipal leases — — — 112,016 112,016 Total loans $ 5,579 $ 4,488 $ 10,067 $ 2,695,119 $ 2,705,186 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 84 135,252 135,336 Equipment finance — — — 13,487 13,487 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: June 30, 2019 June 30, 2018 Nonaccruing 90 Days + & still accruing Nonaccruing 90 Days + & still accruing Retail consumer loans: One-to-four family $ 3,223 $ — $ 4,308 $ — HELOCs - originated 348 — 656 — HELOCs - purchased 666 — 187 — Construction and land/lots 6 — 165 — Indirect auto finance 463 — 255 — Consumer 45 — 321 — Commercial loans: Commercial real estate 3,559 — 2,863 — Construction and development 1,357 — 2,045 — Commercial and industrial 307 — 114 — Equipment finance 384 — — — Municipal leases — — — — Total loans $ 10,358 $ — $ 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 follows: June 30, 2019 June 30, 2018 Performing TDRs $ 23,116 $ 21,251 |
Allowance for Credit Losses on Financing Receivables | An analysis of the allowance for loan losses by segment for the periods shown is as follows: June 30, 2019 PCI Retail Consumer Commercial Total Balance at beginning of period $ 483 $ 7,527 $ 13,050 $ 21,060 Provision for (recovery of) loan losses (282 ) (1,244 ) 7,226 5,700 Charge-offs — (1,136 ) (6,273 ) (7,409 ) Recoveries — 1,272 806 2,078 Balance at end of period $ 201 $ 6,419 $ 14,809 $ 21,429 June 30, 2018 PCI Retail Consumer Commercial Total Balance at beginning of period $ 727 $ 8,585 $ 11,839 $ 21,151 Provision for (recovery of) loan losses 228 (906 ) 678 — Charge-offs (472 ) (1,142 ) (1,033 ) (2,647 ) Recoveries — 990 1,566 2,556 Balance at end of period $ 483 $ 7,527 $ 13,050 $ 21,060 June 30, 2017 PCI Retail Consumer Commercial Total Balance at beginning of period $ 361 $ 11,549 $ 9,382 $ 21,292 Provision for (recovery of) loan losses 366 (2,829 ) 2,463 — Charge-offs — (1,219 ) (1,331 ) (2,550 ) Recoveries — 1,084 1,325 2,409 Balance at end of period $ 727 $ 8,585 $ 11,839 $ 21,151 |
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 June 30, 2019 Retail consumer loans: One-to-four family $ 62 $ 74 $ 2,375 $ 2,511 $ 5,868 $ 5,318 $ 649,405 $ 660,591 HELOCs - originated — 7 1,023 1,030 225 7 130,863 131,095 HELOCs - purchased — — 518 518 — — 116,972 116,972 Construction and land/lots — — 1,265 1,265 372 323 79,907 80,602 Indirect auto finance — — 927 927 — — 153,448 153,448 Consumer — 4 226 230 — 4 19,752 19,756 Commercial loans: Commercial real estate 118 28 7,890 8,036 7,706 8,692 910,863 927,261 Construction and development 4 5 3,187 3,196 941 1,397 208,578 210,916 Commercial and industrial 17 2 1,957 1,976 1,669 2 158,800 160,471 Equipment finance — — 1,305 1,305 — — 132,058 132,058 Municipal leases — — 435 435 — — 112,016 112,016 Total $ 201 $ 120 $ 21,108 $ 21,429 $ 16,781 $ 15,743 $ 2,672,662 $ 2,705,186 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 — 133,383 135,336 Equipment finance — — — — — — 13,487 13,487 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 Related Recorded Allowance With a Recorded Allowance With No Recorded Allowance Total June 30, 2019 Retail consumer loans: One-to-four family $ 18,302 $ 12,461 $ 3,152 $ 15,613 $ 472 HELOCs - originated 1,262 564 130 694 9 HELOCs - purchased 666 — 666 666 — Construction and land/lots 1,917 957 323 1,280 26 Indirect auto finance 601 353 137 490 2 Consumer 1,527 7 1,130 1,137 43 Commercial loans: Commercial real estate 10,127 6,434 3,404 9,838 36 Construction and development 2,574 940 791 1,731 7 Commercial and industrial 10,173 354 768 1,122 6 Equipment finance 462 — 384 384 — Total impaired loans $ 47,611 $ 22,070 $ 10,885 $ 32,955 $ 601 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 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 and interest income recognized on impaired loans as of the dates indicated follows: Year Ended June 30, 2019 June 30, 2018 June 30, 2017 Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized Retail consumer loans: One-to-four family $ 17,319 $ 950 $ 23,257 $ 1,170 $ 25,256 $ 1,147 HELOCs - originated 1,005 63 2,304 104 2,548 152 HELOCs - purchased 320 13 189 15 48 12 Construction and land/lots 1,441 94 1,575 109 1,734 139 Indirect auto finance 373 29 256 23 106 2 Consumer 1,328 67 43 17 35 20 Commercial loans: Commercial real estate 5,026 466 6,496 209 7,771 272 Construction and development 1,779 65 2,703 56 2,450 58 Commercial and industrial 315 249 1,205 60 2,737 125 Equipment finance 192 37 — — — — Municipal leases — — 75 — 406 18 Total loans $ 29,098 $ 2,033 $ 38,103 $ 1,763 $ 43,091 $ 1,945 |
Impaired Financing Receivable | A summary of changes in the accretable yield for PCI loans for the periods indicated follows: Year Ended June 30, 2019 Year Ended June 30, 2018 Accretable yield, beginning of period $ 5,734 $ 7,080 Reclass from nonaccretable yield (1) 576 513 Other changes, net (2) 1,018 393 Interest income (2,069 ) (2,252 ) Accretable yield, end of period $ 5,259 $ 5,734 ______________________________ (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. |
Impaired Financing Receivables | The following table presents carrying values and unpaid principal balances for PCI loans at the dates indicated below: June 30, 2019 June 30, 2018 Carrying value of PCI loans $ 16,750 $ 20,904 Unpaid principal balance of PCI loans $ 20,141 $ 25,746 |
Troubled Debt Restructurings on Financing Receivables | The following table presents a breakdown of the types of concessions made on TDRs by loan class for the periods indicated below: Year Ended June 30, 2019 Year Ended June 30, 2018 Year Ended June 30, 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 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 $ 84 — $ — $ — 3 $ 288 $ 285 Construction and land/lots — — — — — — 2 80 79 Commercial: Total 1 $ 85 $ 84 — $ — $ — 5 $ 368 $ 364 Extended payment terms: Retail consumer: One-to-four family 1 $ 34 $ 34 4 $ 514 $ 502 5 $ 186 $ 179 HELOCs - originated — — — — — — 1 37 37 Construction and land/lots — — — 1 36 32 1 280 264 Consumer 2 34 33 — — — 2 11 11 Commercial: Construction and development — — — — — — 1 439 439 Commercial and industrial — — — — — $ — 2 52 $ 50 Total 3 $ 68 $ 67 5 $ 550 $ 534 12 $ 1,005 $ 980 Other TDRs: Retail consumer: One-to-four family 18 $ 1,452 $ 1,433 25 $ 3,646 $ 3,747 13 $ 525 $ 517 HELOCs - originated — — — — — — 2 33 31 Construction and land/lots 1 29 28 — — — 4 404 318 Indirect auto finance 1 33 26 — — — — — — Consumer 1 2 2 1 2 2 — — — Commercial: Commercial real estate 3 5,440 5,427 — — — 3 2,349 2,035 Construction and development 1 182 182 — — — — — — Commercial and industrial — — — — — — 2 231 227 Total 25 $ 7,138 $ 7,098 26 $ 3,648 $ 3,749 24 $ 3,542 $ 3,128 Total 29 $ 7,291 $ 7,249 31 $ 4,198 $ 4,283 41 $ 4,915 $ 4,472 |
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 periods indicated below: Year Ended June 30, 2019 Year Ended June 30, 2018 Year Ended June 30, 2017 Number of Loans Recorded Investment Number of Loans Recorded Investment Number of Loans Recorded Investment Other TDRs: Retail consumer: One-to-four family 1 $ 72 5 $ 277 2 $ 27 Construction and land/lots — — — — 1 19 Consumer 1 2 — — — — Total Other TDRs 2 $ 74 5 $ 277 3 $ 46 Total 2 $ 74 5 $ 277 3 $ 46 |
Premises and Equipment (Tables)
Premises and Equipment (Tables) | 12 Months Ended |
Jun. 30, 2019 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant and Equipment | Premises and equipment as of the dates indicated consist of the following: June 30, 2019 2018 Land $ 19,730 $ 19,934 Land held under capital lease 2,052 2,052 Office buildings 58,952 57,873 Furniture, fixtures and equipment 15,918 15,582 Total 96,652 95,441 Less accumulated depreciation (35,601 ) (32,904 ) Premises and equipment, net $ 61,051 $ 62,537 |
Accrued Interest Receivable (Ta
Accrued Interest Receivable (Tables) | 12 Months Ended |
Jun. 30, 2019 | |
Receivables [Abstract] | |
Schedule of Accrued Interest Receivable | Accrued interest receivable as of the dates indicated consists of the following: June 30, 2019 2018 Loans $ 9,433 $ 8,164 Securities available for sale 690 776 Other 410 404 Total $ 10,533 $ 9,344 |
Real Estate Owned Real Estate_2
Real Estate Owned Real Estate Owned (Tables) | 12 Months Ended |
Jun. 30, 2019 | |
Real Estate Owned [Abstract] | |
Schedule of Real Estate Owned | The activity within REO for the periods shown is as follows: Year Ended June 30, 2019 2018 Balance at beginning of period $ 3,684 $ 6,318 Transfers from loans 731 1,346 Sales, net of gain/loss (1,191 ) (3,471 ) Writedowns (295 ) (539 ) Capital improvements — 30 Balance at end of period $ 2,929 $ 3,684 |
Goodwill and Core Deposit Int_2
Goodwill and Core Deposit Intangibles (Tables) | 12 Months Ended |
Jun. 30, 2019 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Amortization expense related to core deposit intangibles | As of June 30, 2019, estimated amortization expense for each of the next five years is as follows: 2020 $ 1,414 2021 741 2022 251 2023 90 2024 3 Total $ 2,499 |
Deposit Accounts (Tables)
Deposit Accounts (Tables) | 12 Months Ended |
Jun. 30, 2019 | |
Banking and Thrift [Abstract] | |
Schedule of Deposit Accounts | Deposit accounts at the dates indicated consist of the following: Weighted Average Interest Rates June 30, June 30, 2019 2018 2019 2018 Noninterest-bearing accounts $ 294,322 $ 317,822 — % — % NOW accounts 452,295 471,364 0.15 % 0.11 % Money market accounts 691,172 677,665 0.89 % 0.48 % Savings accounts 177,278 213,250 0.12 % 0.13 % Certificates of deposit 712,190 516,152 1.99 % 1.01 % Total $ 2,327,257 $ 2,196,253 0.91 % 0.42 % |
Schedule of Maturities of Certificates of Deposit | As of June 30, 2019, maturities of certificates of deposit are as follows: 2020 $ 515,519 2021 114,927 2022 52,905 2023 17,868 2024 10,971 Thereafter — Total $ 712,190 |
Schedule of Interest Expense on Deposits | Interest expense on deposits at the dates indicated consists of the following: June 30, 2019 2018 2017 NOW accounts $ 1,251 $ 970 $ 772 Money market accounts 5,102 2,442 1,405 Savings accounts 245 295 308 Certificates of deposit 9,159 3,051 2,103 Total $ 15,757 $ 6,758 $ 4,588 |
Borrowings (Tables)
Borrowings (Tables) | 12 Months Ended |
Jun. 30, 2019 | |
Banking and Thrift [Abstract] | |
Schedule of Borrowings | June 30, 2019 2018 Balance Weighted Average Rate Balance Weighted Average Rate FHLB Advances $ 680,000 2.10 % $ 635,000 1.95 % The scheduled maturity dates, call dates, and related interest rates on FHLB advances at June 30, 2019: Maturity Date Interest Rate Call Date Outstanding Amount 7/1/2019 2.47% — $ 15,000 7/8/2019 2.40% — 45,000 7/8/2019 2.44% — 135,000 7/10/2019 2.40% — 10,000 7/10/2019 2.42% — 40,000 7/15/2019 2.33% — 130,000 7/29/2019 2.33% — 5,000 9/20/2019 0.86% 9/20/2019 25,000 3/6/2028 1.72% 9/6/2019 100,000 3/22/2028 1.82% 9/23/2019 50,000 6/5/2028 1.87% 9/5/2019 50,000 9/13/2028 1.76% 9/13/2019 25,000 11/24/2028 2.07% 11/26/2019 25,000 11/24/2028 1.79% 8/26/2019 25,000 $ 680,000 Borrowings consist of the following at the dates indicated: June 30, 2019 2018 Balance Weighted Average Rate Balance Weighted Average Rate FHLB Advances $ 680,000 2.10 % $ 635,000 1.95 % |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Jun. 30, 2019 | |
Leases [Abstract] | |
Schedule of Future Minimum Rental Payments for Operating Leases | The following schedule summarizes aggregate future minimum lease payments under these operating leases at June 30, 2019 : Fiscal year ending June 30: 2020 $ 1,660 2021 1,395 2022 1,296 2023 1,291 2022 643 Thereafter 1,076 Total of future minimum payments $ 7,361 The following schedule summarizes aggregate future minimum lease payments to be received at June 30, 2019: Fiscal year ending June 30: 2020 $ 2,066 2021 4,499 2022 3,011 2023 175 2022 244 Thereafter — Total of future minimum payments $ 9,995 |
Schedule of Future Minimum Lease Payments for Capital Leases | Aggregate future minimum lease payments due under this capital lease obligation as of June 30, 2019 are as follows: Fiscal year ending June 30, 2019: 2020 $ 134 2021 134 2022 134 2023 134 2023 145 Thereafter 1,995 Total minimum lease payments 2,676 Less: amount representing interest (796 ) Present value of net minimum lease payments $ 1,880 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Jun. 30, 2019 | |
Income Tax Disclosure [Abstract] | |
Schedule of Components of Income Tax Expense | Income tax expense as of the dates indicated consists of: June 30, 2019 2018 2017 Current: Federal $ 755 $ 291 $ 191 State 690 324 54 Total current expense 1,445 615 245 Deferred: Federal 5,404 7,909 4,561 State 267 625 386 Adjustment due to the Tax Cuts and Jobs Act (“Tax Act”) (325 ) 17,587 — Total deferred expense 5,346 26,121 4,947 Total income tax expense $ 6,791 $ 26,736 $ 5,192 |
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: Year Ended June 30, 2019 2018 2017 $ Rate $ Rate $ Rate Tax at federal income tax rate $ 7,127 21 % $ 9,617 28 % $ 5,793 34 % Increase (decrease) resulting from: Tax exempt income (855 ) (2 )% (1,075 ) (3 )% (1,391 ) (8 )% Nondeductible merger expenses — — % — — % 91 1 % Change in valuation allowance for deferred tax assets, allocated to income tax expense (325 ) (1 )% 87 — % (327 ) (2 )% State tax, net of federal benefit 756 2 % 688 2 % 290 2 % Change in deferred tax assets due to the Tax Act — — % 17,587 50 % — — % Other 88 — % (168 ) (1 )% 736 4 % Total $ 6,791 20 % $ 26,736 76 % $ 5,192 31 % |
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 June 30, 2019 and 2018 are presented below: June 30, 2019 2018 Deferred tax assets: Alternative minimum tax credit $ 4,799 $ 4,920 Allowance for loan losses 4,685 4,637 Deferred compensation and post-retirement benefits 8,988 9,400 Accrued vacation and sick leave 18 18 Impairments on real estate owned 461 495 Other than temporary impairment on investments 2,232 2,254 Net operating loss carryforward 5,092 8,635 Discount from business combination 2,373 2,605 Unrealized loss on securities held for sale — 477 Stock compensation plans 2,162 2,271 Other 1,140 1,562 Total gross deferred tax assets 31,950 37,274 Less valuation allowance — (325 ) Deferred tax assets 31,950 36,949 Deferred tax (liabilities): Depreciable basis of fixed assets (1,089 ) (566 ) Deferred loan fees (520 ) (453 ) FHLB stock, book basis in excess of tax (89 ) (89 ) Unrealized gain on securities available for sale (219 ) — Other (3,510 ) (3,276 ) Total gross deferred tax liabilities (5,427 ) (4,384 ) Net deferred tax assets $ 26,523 $ 32,565 |
Employee Benefit Plans (Tables)
Employee Benefit Plans (Tables) | 12 Months Ended |
Jun. 30, 2019 | |
Retirement Benefits [Abstract] | |
Employee Stock Ownership Plan (ESOP) Activity | Shares held by the ESOP at the dates indicated include the following: June 30, 2019 2018 Unallocated ESOP shares 687,700 740,600 Allocated ESOP shares 317,400 264,500 ESOP shares committed to be released 52,900 52,900 Total ESOP shares 1,058,000 1,058,000 Fair value of unallocated ESOP shares $ 17,289 $ 20,848 |
Deferred Compensation Agreeme_2
Deferred Compensation Agreements (Tables) | 12 Months Ended |
Jun. 30, 2019 | |
Retirement Benefits [Abstract] | |
Schedule of Net Cash Surrender Value Life Insurance Policies and Deferred Compensation Liability | The net cash surrender value of the related life insurance policies and deferred compensation liability as of the dates indicated are detailed below: June 30, 2019 2018 Net cash surrender value of life insurance, related to deferred compensation $ 7,413 $ 7,142 Deferred compensation liability, included in other liabilities $ 956 $ 1,075 |
Net Income per Share (Tables)
Net Income per Share (Tables) | 12 Months Ended |
Jun. 30, 2019 | |
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 as of the dates indicated: June 30, 2019 2018 2017 Numerator: Net income $ 27,146 $ 8,235 $ 11,847 Allocation of earnings to participating securities (189 ) (60 ) (125 ) Numerator for basic EPS - Net income available to common stockholders $ 26,957 $ 8,175 $ 11,722 Effect of dilutive securities: Dilutive effect to participating securities 7 2 4 Numerator for diluted EPS $ 26,964 $ 8,177 $ 11,726 Denominator: Weighted-average common shares outstanding - basic 17,692,493 18,028,854 17,379,487 Effect of dilutive shares 700,691 697,577 576,956 Weighted-average common shares outstanding - diluted 18,393,184 18,726,431 17,956,443 Net income per share - basic $ 1.52 $ 0.45 $ 0.66 Net income per share - diluted $ 1.46 $ 0.44 $ 0.65 |
Equity Incentive Plan (Tables)
Equity Incentive Plan (Tables) | 12 Months Ended |
Jun. 30, 2019 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Equity Incentive Plan Stock Option Activity | The table below presents stock option activity and related information: Options Weighted- average exercise price Remaining contractual life (years) Aggregate Intrinsic Value Options outstanding at June 30, 2016 1,529,300 14.50 6.8 $ 6,117 Granted 60,500 24.95 — — Granted, TriSummit acquisition 86,185 23.82 Exercised 185,142 16.56 — — Forfeited 19,000 14.53 — — Expired 1,800 14.37 — — Options outstanding at June 30, 2017 1,470,043 $ 15.22 5.8 $ 13,533 Exercisable at June 30, 2017 1,033,943 $ 14.82 Granted 360,400 26.01 — — Exercised 44,200 14.72 — — Forfeited 24,700 14.43 — — Expired 43,273 23.82 — — Options outstanding at June 30, 2018 1,718,270 $ 17.29 5.9 $ 18,664 Exercisable at June 30, 2018 1,223,470 $ 14.51 Granted 40,500 27.51 — — Exercised 80,311 14.62 — — Forfeited 20,300 23.30 — — Expired 945 23.82 — — Options outstanding at June 30, 2019 1,657,214 $ 17.59 5.0 $ 12,909 Exercisable at June 30, 2019 1,279,614 $ 15.39 4.1 $ 12,549 Non-vested at June 30, 2019 377,600 $ 25.04 8.3 $ 360 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions | Assumptions used for grants were as follows: Assumptions in Estimating Option Values 2019 2018 Weighted-average volatility 17.84 % 17.69 % Expected dividend yield (1) 0.87 % — % Risk-free interest rate 2.52 % 2.67 % Expected life (years) 6.5 6.5 Weighted-average fair value of options granted $ 5.88 $ 6.62 (1) The Company began paying a cash dividend during the second quarter of fiscal 2019. |
Equity Incentive Plan Restricted Award Activity | The table below presents restricted stock award activity and related information: Restricted stock awards Weighted- average grant date fair value Aggregate Intrinsic Value Non-vested at June 30, 2016 248,750 $ 14.81 $ 4,602 Granted 47,500 24.70 — Vested 104,620 14.58 — Forfeited 6,000 15.07 — Non-vested at June 30, 2017 185,630 $ 17.46 $ 3,419 Granted 55,200 25.89 — Vested 100,820 15.14 — Forfeited 6,600 14.37 — Non-vested at June 30, 2018 133,410 $ 22.85 $ 3,755 Granted 34,000 27.51 — Vested 39,310 21.64 — Forfeited 4,300 19.08 — Non-vested at June 30, 2019 123,800 $ 24.65 $ 2,258 |
Capital (Tables)
Capital (Tables) | 12 Months Ended |
Jun. 30, 2019 | |
Banking and Thrift [Abstract] | |
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations | HomeTrust Bancshares, Inc. and the Bank's actual and required minimum capital amounts and ratios are as follows: Regulatory Requirements Actual Minimum for Capital Adequacy Purposes Minimum to Be Well Capitalized Amount Ratio Amount Ratio Amount Ratio HomeTrust Bancshares, Inc. As of June 30, 2019 Common Equity Tier I Capital (to Risk-weighted Assets) $ 374,729 12.20 % $ 138,226 4.50 % $ 199,659 6.50 % Tier I Capital (to Total Adjusted Assets) $ 374,729 10.89 % $ 137,649 4.00 % $ 172,062 5.00 % Tier I Capital (to Risk-weighted Assets) $ 374,729 12.20 % $ 184,301 6.00 % $ 245,734 8.00 % Total Risk-based Capital (to Risk-weighted Assets) $ 396,613 12.91 % $ 245,734 8.00 % $ 307,168 10.00 % As of June 30, 2018 Common Equity Tier I Capital (to Risk-weighted Assets) $ 372,188 12.97 % $ 129,109 4.50 % $ 186,491 6.50 % Tier I Capital (to Total Adjusted Assets) $ 372,188 11.45 % $ 130,032 4.00 % $ 162,539 5.00 % Tier I Capital (to Risk-weighted Assets) $ 372,188 12.97 % $ 172,145 6.00 % $ 229,527 8.00 % Total Risk-based Capital (to Risk-weighted Assets) $ 393,703 13.72 % $ 229,527 8.00 % $ 286,909 10.00 % HomeTrust Bank: As of June 30, 2019 Common Equity Tier I Capital (to Risk-weighted Assets) $ 355,759 11.59 % $ 138,153 4.50 % $ 199,555 6.50 % Tier I Capital (to Total Adjusted Assets) $ 355,759 10.34 % $ 137,590 4.00 % $ 171,988 5.00 % Tier I Capital (to Risk-weighted Assets) $ 355,759 11.59 % $ 184,204 6.00 % $ 245,606 8.00 % Total Risk-based Capital (to Risk-weighted Assets) $ 377,639 12.30 % $ 245,606 8.00 % $ 307,007 10.00 % As of June 30, 2018 Common Equity Tier I Capital (to Risk-weighted Assets) $ 335,152 11.70 % $ 128,889 4.50 % $ 186,173 6.50 % Tier I Capital (to Total Adjusted Assets) $ 335,152 10.33 % $ 129,769 4.00 % $ 162,211 5.00 % Tier I Capital (to Risk-weighted Assets) $ 335,152 11.70 % $ 171,852 6.00 % $ 229,136 8.00 % Total Risk-based Capital (to Risk-weighted Assets) $ 356,603 12.45 % $ 229,136 8.00 % $ 286,421 10.00 % ___________________________________ In addition to the minimum common equity Tier 1 ("CET1"), Tier 1 and total risk-based capital ratios, HomeTrust Bancshares, Inc. and the Bank have to maintain a capital conservation buffer consisting of additional CET1 capital or more than 2.50% above the required minimum levels in order to avoid limitations on paying dividends, engaging in share repurchases, and paying discretionary bonuses based on percentages of eligible retained income that could be utilized for such actions. As of June 30, 2019, the conservation buffer was 4.90% % and 4.30% % for HomeTrust Bancshares, Inc. and the Bank, respectively. |
Reconciliation of the Bank's Total Equity Capital Under US GAAP and Regulatory Capital Amounts | A reconciliation of HomeTrust Bancshares, Inc.'s stockholders' equity under US GAAP and regulatory capital amounts as of the dates indicated follows: June 30, 2019 2018 Total stockholders' equity under US GAAP $ 408,896 $ 409,242 Accumulated other comprehensive loss (income), net of tax (733 ) 1,598 Investment in nonincludable subsidiary (780 ) (826 ) Disallowed deferred tax assets (5,092 ) (8,701 ) Disallowed goodwill and other disallowed intangible assets (27,562 ) (29,125 ) Tier I Capital 374,729 372,188 Allowable portion of allowance for loan losses and loan commitments 21,884 21,515 Total Risk-based Capital $ 396,613 $ 393,703 |
Parent Company Financial Info_2
Parent Company Financial Information (Tables) | 12 Months Ended |
Jun. 30, 2019 | |
Condensed Financial Information Disclosure [Abstract] | |
Condensed Balance Sheet | Condensed balance sheet June 30, June 30, Assets: Cash and equivalents $ 8,481 $ 23,042 Certificates of deposit in other banks 746 994 Other securities — 63 Total loans 1,243 3,840 Allowance for loan losses (4 ) (64 ) Net loans 1,239 3,776 REO 621 805 Investment in bank subsidiary 389,926 372,206 ESOP loan receivable 7,412 7,896 Other assets 510 499 Total Assets $ 408,935 $ 409,281 Liabilities and Stockholders’ Equity: Other liabilities 39 39 Stockholders’ Equity 408,896 409,242 Total Liabilities and Stockholders’ Equity $ 408,935 $ 409,281 |
Condensed Income Statement | Condensed statement of income June 30, June 30, June 30, Income: Interest income $ 329 $ 456 $ 565 Other income 54 44 1 Equity earnings in Bank subsidiary 27,287 8,427 12,003 Total income 27,670 8,927 12,569 Expense: Management fee expense 407 385 354 REO expense 11 34 62 Loss on sale and impairment of REO 114 158 39 Provision for (recovery of) loan losses (259 ) (131 ) 90 Other expense 251 246 177 Total expense 524 692 722 Income Before Income Taxes 27,146 8,235 11,847 Income Tax Expense — — — Net Income $ 27,146 $ 8,235 $ 11,847 |
Condensed Cash Flow Statement | Condensed statement of cash flows June 30, June 30, June 30, Operating Activities: Net income $ 27,146 $ 8,235 $ 11,847 Adjustments to reconcile net income to net cash provided by operating activities: Provision for (recovery of) loan losses (259 ) (131 ) 90 Loss on sale and impairment of REO 114 158 39 Decrease (increase) in accrued interest receivable and other assets 52 291 (30 ) Equity in undistributed income of Bank (27,287 ) (8,427 ) (12,003 ) ESOP compensation expense 1,422 1,367 1,186 Restricted stock and stock option expense 1,601 3,027 4,166 Decrease in other liabilities — (48 ) (260 ) Net cash provided by operating activities 2,789 4,472 5,035 Investing Activities: Maturities of certificates of deposit in other banks 248 6,217 1,245 Repayment of loans 2,796 1,514 2,176 Increase in investment in Bank subsidiary (1,556 ) (1,367 ) (3,408 ) Dividend from subsidiary 13,454 — 10,291 ESOP principal payments received 484 472 462 Proceeds from sale of REO 70 499 61 Acquisition of TriSummit Bancorp, Inc. — — (13,862 ) Net cash provided by (used in) investing activities 15,496 7,335 (3,035 ) Financing Activities: Common stock repurchased (30,638 ) — — Cash dividends paid (3,176 ) — — Retired stock (205 ) (494 ) (569 ) Exercised stock options 1,173 651 3,068 Net cash provided by (used in) financing activities (32,846 ) 157 2,499 Net Increase (Decrease) in Cash and Cash Equivalents (14,561 ) 11,964 4,499 Cash and Cash Equivalents at Beginning of Period 23,042 11,078 6,579 Cash and Cash Equivalents at End of Period $ 8,481 $ 23,042 $ 11,078 |
Fair Value of Financial Instr_2
Fair Value of Financial Instruments (Tables) | 12 Months Ended |
Jun. 30, 2019 | |
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: June 30, 2019 Description Total Level 1 Level 2 Level 3 U.S Government Agencies $ 15,210 $ — $ 15,210 $ — Residential Mortgage-backed Securities of U.S. Government Agencies and Government sponsored Enterprises 75,180 — 75,180 — Municipal Bonds 25,312 — 25,312 — Corporate Bonds 6,084 — 6,084 — Total $ 121,786 $ — $ 121,786 $ — 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: June 30, 2019 Description Total Level 1 Level 2 Level 3 Impaired loans $ 9,071 $ — $ — $ 9,071 REO 1,804 — — 1,804 Total $ 10,875 $ — $ — $ 10,875 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 June 30, 2019 is shown in the table below: Fair Value at June 30, 2019 Valuation Techniques Unobservable Input Range Weighted Average Nonrecurring measurements: Impaired loans, net $ 9,071 Discounted appraisals and discounted cash flows Collateral discounts: Discount spread: 0% - 16% 1% - 3% 1% REO $ 1,804 Discounted Appraisals Collateral discounts 8% - 41% 12% |
Fair Value, by Balance Sheet Grouping | The stated carrying value and estimated fair value amounts of financial instruments as of June 30, 2019 and June 30, 2018 , are summarized below: June 30, 2019 Carrying Value Fair Value Level 1 Level 2 Level 3 Assets: Cash and interest-bearing deposits $ 71,043 $ 71,043 $ 71,043 $ — $ — Commercial paper 241,446 241,446 241,446 — — Certificates of deposit in other banks 52,005 52,005 — 52,005 — Securities available for sale 121,786 121,786 — 121,786 — Loans, net 2,683,761 2,604,827 — — 2,604,827 Loans held for sale 18,175 18,591 — — 18,591 FHLB stock 31,969 31,969 31,969 — — FRB stock 7,335 7,335 7,335 — — SBIC investments 6,074 6,074 — — 6,074 Accrued interest receivable 10,533 10,533 350 750 9,433 Liabilities: Noninterest-bearing and NOW deposits 746,617 746,617 — 746,617 — Money market accounts 691,172 691,172 — 691,172 — Savings accounts 177,278 177,278 — 177,278 — Certificates of deposit 712,190 712,485 — 712,485 — Borrowings 680,000 688,418 — 688,418 — Accrued interest payable 2,252 2,252 — 2,252 — 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 investments 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) | 12 Months Ended |
Jun. 30, 2019 | |
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 Topic 606 for the periods indicated: Year Ended June 30, 2019 2018 2017 In-scope of Topic 606: Service charges on deposit accounts $ 3,978 $ 3,674 $ 3,309 Fees, interchange, and other service charges 6,377 5,576 4,747 Other 775 909 943 Noninterest income (in-scope of Topic 606) 11,130 10,159 8,999 Noninterest income (out-of-scope of Topic 606) 11,765 8,813 7,108 Total noninterest income $ 22,895 $ 18,972 $ 16,107 |
Unaudited Interim Financial I_2
Unaudited Interim Financial Information (Tables) | 12 Months Ended |
Jun. 30, 2019 | |
Quarterly Financial Information Disclosure [Abstract] | |
Schedule of Quarterly Financial Information | The unaudited statements of income for each of the quarters during the fiscal years ended June 30, 2019 and 2018 are summarized below: Three months ended June 30, March 31, 2019 December 31, 2018 September 30, 2018 Interest and dividend income $ 35,855 $ 34,724 $ 34,400 $ 32,280 Interest expense 8,931 8,145 7,299 6,008 Net interest income 26,924 26,579 27,101 26,272 Provision for loan losses 200 5,500 — — Net interest income after provision for loan losses 26,724 21,079 27,101 26,272 Noninterest income 6,811 5,386 5,085 5,613 Noninterest expense 23,415 22,978 21,858 21,883 Net income before provision for income taxes 10,120 3,487 10,328 10,002 Income tax expense 2,107 185 2,287 2,212 Net income $ 8,013 $ 3,302 $ 8,041 $ 7,790 Net income per common share: Basic $ 0.45 $ 0.19 $ 0.45 $ 0.43 Diluted $ 0.44 $ 0.18 $ 0.43 $ 0.41 Three months ended June 30, March 31, 2018 December 31, 2017 September 30, 2017 Interest and dividend income $ 30,693 $ 29,265 $ 28,848 $ 27,896 Interest expense 5,103 4,036 3,618 3,315 Net interest income 25,590 25,229 25,230 24,581 Provision for loan losses — — — — Net interest income after provision for loan losses 25,590 25,229 25,230 24,581 Noninterest income 5,382 4,926 4,787 4,577 Noninterest expense 21,754 21,321 21,175 21,081 Net income before provision for income taxes 9,218 8,834 8,842 8,077 Income tax expense 2,011 2,707 19,508 2,510 Net income (loss) $ 7,207 $ 6,127 $ (10,666 ) $ 5,567 Net income (loss) per common share: Basic $ 0.40 $ 0.34 $ (0.59 ) $ 0.31 Diluted $ 0.38 $ 0.32 $ (0.59 ) $ 0.30 |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies - Narrative (Details) | 12 Months Ended | |
Jun. 30, 2019USD ($)segmentderivative_instrument | Sep. 30, 2019USD ($) | |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Number of loan portfolio segments | segment | 2 | |
Nonperforming assets, period past due | 90 days | |
Threshold period after bankruptcy notification for charge-off | 60 days | |
Threshold period after bankruptcy notification past due | 120 days | |
Employee stock ownership plan, requisite service for eligibility | 1000 hours | |
Employee stock ownership plan, period for eligibility | 12 months | |
Employee stock ownership plan, minimum age for eligibility | 21 years | |
Employer matching contribution, percent of match | 50.00% | |
Employer matching contribution, percent of employees' gross pay | 6.00% | |
Employee service period | 6 years | |
Employee stock ownership plan, contribution period for loan payable | 20 years | |
Derivative, number of instruments held | derivative_instrument | 2 | |
Core Deposits | Minimum | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Finite-lived intangible asset, useful life | 5 years | |
Core Deposits | Maximum | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Finite-lived intangible asset, useful life | 10 years | |
Retail Consumer loans | Uncollateralized | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Threshold period past due for charge-off | 90 days | |
Retail Consumer loans | Real Estate | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Threshold period past due for charge-off | 120 days | |
Commercial Paper | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Maturities of short-term debt of investment graded corporations (less than) | 270 days | |
Maximum amount of instruments per issuer | $ 15,000,000 | |
Accounting Standards Update 2016-02 | Scenario, Forecast | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Operating lease, right-of-use asset | $ 4,000,000 | |
Operating lease, liability | $ 6,000,000 |
Business Combinations - Narrati
Business Combinations - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands | Jan. 01, 2017 | Dec. 31, 2016 | Mar. 31, 2018 |
United Financial of North Carolina, Inc. | |||
Business Acquisition [Line Items] | |||
Aggregate transaction consideration | $ 425 | ||
Cash paid as deposit premium | $ 200 | $ 225 | |
TriSummit Bancorp | |||
Business Acquisition [Line Items] | |||
Aggregate transaction consideration | $ 36,126 | ||
Cash paid as deposit premium | $ 16,083 | ||
Number of shares converted, net of cancellations (in shares) | 86,185 | ||
Shares issued for acquisition (in shares) | 765,277 | ||
Common Stock | TriSummit Bancorp | |||
Business Acquisition [Line Items] | |||
Right to receive cash (in dollars per share) | $ 4.40 | ||
Number of securities called by each share of TriSummit (in shares) | 0.2099 | ||
TriSummit Bancorp | TriSummit Bancorp | |||
Business Acquisition [Line Items] | |||
Percentage of outstanding options canceled | 50.00% | ||
TriSummit Bancorp | Series B, C, and D TARP Preferred Stock | TriSummit Bancorp | |||
Business Acquisition [Line Items] | |||
Value of redeemed preferred stock | $ 7,222 |
Business Combinations - Acquire
Business Combinations - Acquiree Balance Sheet (Details) - USD ($) $ / shares in Units, $ in Thousands | Jan. 01, 2017 | Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2017 |
Assets | ||||
Certificates of deposit in other banks | $ 52,005 | $ 66,937 | ||
Other investments, at cost | 45,378 | 41,931 | ||
Loans, net | 2,683,761 | 2,504,792 | ||
Premises and equipment, net | 61,051 | 62,537 | ||
Real estate owned (REO) | 2,929 | 3,684 | $ 6,318 | |
Deferred income taxes | 31,950 | 36,949 | ||
Bank owned life insurance (BOLI) | 90,254 | 88,028 | ||
Core deposit intangibles | 2,499 | 4,528 | ||
Other assets (includes $7,222 prepayment of TARP preferred stock) | 23,157 | 3,503 | ||
Total Assets | 3,476,178 | 3,304,169 | ||
Liabilities | ||||
Deposits | 2,327,257 | 2,196,253 | ||
Borrowings | 680,000 | 635,000 | ||
Other liabilities | 58,145 | 61,760 | ||
Total liabilities | 3,067,282 | 2,894,927 | ||
Goodwill | $ 25,638 | $ 25,638 | ||
TriSummit Bancorp | ||||
Business Acquisition [Line Items] | ||||
Cash paid as deposit premium | $ 16,083 | |||
Fair value of HomeTrust common stock at $25.90 per share | 20,043 | |||
Total consideration | $ 36,126 | |||
Price per share (in dollars per share) | $ 25.90 | |||
Assets | ||||
Fair value adjustments, cash and cash equivalents | $ 0 | |||
Cash and cash equivalents | 5,498 | |||
Fair value adjustments, certificates of deposit | 0 | |||
Certificates of deposit in other banks recorded by HTBI | 250 | |||
Fair value adjustments, investment securities | (203) | |||
Investment securities recorded by HTBI | 58,525 | |||
Fair value adjustments, other investments and securities | 0 | |||
Other investments, at cost recorded by HTBI | 2,614 | |||
Fair value adjustments, loans net | (3,867) | |||
Loans, net of allowance | 258,059 | |||
Fair value adjustments, premises and equipment, net | (2,419) | |||
Premises and equipment, net recorded by HTBI | 10,422 | |||
Fair value adjustments, REO | (122) | |||
REO | 1,511 | |||
Fair value adjustments, deferred income tax | 4,462 | |||
Deferred income taxes | 7,115 | |||
Fair value adjustments, bank owned life insurance | 0 | |||
Bank owned life insurance recorded by HTBI | 3,762 | |||
Fair value adjustments, core deposit intangibles | 1,575 | |||
Core deposit intangibles | 2,860 | |||
Fair value adjustments, other assets | (105) | |||
Other assets | 1,348 | |||
Fair value adjustments, total assets | (679) | |||
Total assets acquired | 351,964 | |||
Liabilities | ||||
Fair value adjustments, deposits | 587 | |||
Deposits | 280,234 | |||
Fair value adjustments, borrowings | 16 | |||
Borrowings | 47,469 | |||
Fair value adjustments, other liabilities | 0 | |||
Other liabilities | 675 | |||
Fair value adjustments, total liabilities | 603 | |||
Total liabilities assumed | 328,378 | |||
Fair value adjustments, net identifiable assets acquired over liabilities assumed | (1,282) | |||
Net identifiable assets acquired over liabilities assumed | 23,586 | |||
Goodwill | 12,540 | |||
TriSummit Bancorp | ||||
Assets | ||||
Cash and cash equivalents | 5,498 | |||
Certificates of deposit in other banks | 250 | |||
Investment securities | 58,728 | |||
Other investments, at cost | 2,614 | |||
Loans, net | 261,926 | |||
Premises and equipment, net | 12,841 | |||
Real estate owned (REO) | 1,633 | |||
Deferred income taxes | 2,653 | |||
Bank owned life insurance (BOLI) | 3,762 | |||
Core deposit intangibles | 1,285 | |||
Other assets (includes $7,222 prepayment of TARP preferred stock) | 1,453 | |||
Total Assets | 352,643 | |||
Liabilities | ||||
Deposits | 279,647 | |||
Borrowings | 47,453 | |||
Other liabilities | 675 | |||
Total liabilities | 327,775 | |||
Net identifiable assets acquired over liabilities assumed | $ 24,868 |
Business Combinations - Financi
Business Combinations - Financial Loan Portfolio Acquired (Details) $ in Thousands | Jan. 01, 2017USD ($) |
Business Acquisition [Line Items] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | $ 258,059 |
PCI | |
Business Acquisition [Line Items] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 7,696 |
Retail Consumer Loans | One-to-four family | |
Business Acquisition [Line Items] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 78,932 |
Retail Consumer Loans | One-to-four family | PCI | |
Business Acquisition [Line Items] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 3,753 |
Retail Consumer Loans | Home equity lines of credit | |
Business Acquisition [Line Items] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 6,481 |
Retail Consumer Loans | Home equity lines of credit | PCI | |
Business Acquisition [Line Items] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 2 |
Retail Consumer Loans | Construction and land/lots | |
Business Acquisition [Line Items] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 15,591 |
Retail Consumer Loans | Construction and land/lots | PCI | |
Business Acquisition [Line Items] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 0 |
Retail Consumer Loans | Consumer | |
Business Acquisition [Line Items] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 1,703 |
Retail Consumer Loans | Consumer | PCI | |
Business Acquisition [Line Items] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 17 |
Commercial Loans | Commercial real estate | |
Business Acquisition [Line Items] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 111,374 |
Commercial Loans | Commercial real estate | PCI | |
Business Acquisition [Line Items] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 3,494 |
Commercial Loans | Construction and development | |
Business Acquisition [Line Items] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 15,395 |
Commercial Loans | Construction and development | PCI | |
Business Acquisition [Line Items] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 142 |
Commercial Loans | Commercial and industrial | |
Business Acquisition [Line Items] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 28,583 |
Commercial Loans | Commercial and industrial | PCI | |
Business Acquisition [Line Items] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 288 |
Performing financing receivable | |
Business Acquisition [Line Items] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 250,363 |
Performing financing receivable | Retail Consumer Loans | One-to-four family | |
Business Acquisition [Line Items] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 75,179 |
Performing financing receivable | Retail Consumer Loans | Home equity lines of credit | |
Business Acquisition [Line Items] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 6,479 |
Performing financing receivable | Retail Consumer Loans | Construction and land/lots | |
Business Acquisition [Line Items] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 15,591 |
Performing financing receivable | Retail Consumer Loans | Consumer | |
Business Acquisition [Line Items] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 1,686 |
Performing financing receivable | Commercial Loans | Commercial real estate | |
Business Acquisition [Line Items] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 107,880 |
Performing financing receivable | Commercial Loans | Construction and development | |
Business Acquisition [Line Items] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 15,253 |
Performing financing receivable | Commercial Loans | Commercial and industrial | |
Business Acquisition [Line Items] | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 28,295 |
TriSummit Bancorp | PCI | |
Business Acquisition [Line Items] | |
Contractually required principal and interest payments receivable | 11,474 |
Amounts not expected to be collected - nonaccretable difference | 2,490 |
Estimated payments expected to be received | 8,984 |
Accretable yield | 1,288 |
Fair value of PCI loans | 7,696 |
TriSummit Bancorp | Performing financing receivable | |
Business Acquisition [Line Items] | |
Contractually required principal and interest payments receivable | 255,852 |
Amounts not expected to be collected - nonaccretable difference | 5,489 |
Estimated payments expected to be received | $ 250,363 |
Debt Securities - Schedule of A
Debt Securities - Schedule of Available-for-sale Securities Reconciliation (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Jun. 30, 2018 |
Debt Securities, Available-for-sale [Line Items] | ||
Gross Unrealized Gains | $ 1,174 | $ 241 |
Gross Unrealized Losses | (222) | (2,316) |
Estimated Fair Value | 121,786 | 154,993 |
Available-for-sale securities, amortized cost | 120,834 | 157,068 |
Securities available for sale, at fair value | 121,786 | 154,993 |
US Government Agencies Debt Securities | ||
Debt Securities, Available-for-sale [Line Items] | ||
Debt securities, available-for-sale, amortized cost | 15,099 | 48,025 |
Gross Unrealized Gains | 122 | 1 |
Gross Unrealized Losses | (11) | (484) |
Estimated Fair Value | 15,210 | 47,542 |
Residential Mortgage-backed Securities of U.S. Government Agencies and Government-Sponsored Enterprises | ||
Debt Securities, Available-for-sale [Line Items] | ||
Debt securities, available-for-sale, amortized cost | 74,778 | 71,949 |
Gross Unrealized Gains | 586 | 88 |
Gross Unrealized Losses | (184) | (1,438) |
Estimated Fair Value | 75,180 | 70,599 |
Municipal Bonds | ||
Debt Securities, Available-for-sale [Line Items] | ||
Debt securities, available-for-sale, amortized cost | 24,896 | 30,865 |
Gross Unrealized Gains | 423 | 127 |
Gross Unrealized Losses | (7) | (226) |
Estimated Fair Value | 25,312 | 30,766 |
Corporate Bonds | ||
Debt Securities, Available-for-sale [Line Items] | ||
Debt securities, available-for-sale, amortized cost | 6,061 | 6,166 |
Gross Unrealized Gains | 43 | 25 |
Gross Unrealized Losses | (20) | (168) |
Estimated Fair Value | $ 6,084 | 6,023 |
Equity Securities | ||
Debt Securities, Available-for-sale [Line Items] | ||
Equity securities, amortized cost | 63 | |
Equity securities, fair value | $ 63 |
Debt Securities - Schedule of I
Debt Securities - Schedule of Investments Classified by Contractual Maturity Date (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Jun. 30, 2018 |
Amortized Cost | ||
Due within one year | $ 5,350 | $ 28,728 |
Due after one year through five years | 30,526 | 41,273 |
Due after five years through ten years | 5,538 | 5,749 |
Due after ten years | 4,642 | 9,306 |
Total | 120,834 | 157,005 |
Estimated Fair Value | ||
Due within one year | 5,359 | 28,573 |
Due after one year through five years | 30,784 | 40,663 |
Due after five years through ten years | 5,798 | 5,829 |
Due after ten years | 4,665 | 9,266 |
Total | 121,786 | 154,930 |
Mortgage-backed Securities | ||
Amortized Cost | ||
Total | 74,778 | 71,949 |
Estimated Fair Value | ||
Total | $ 75,180 | $ 70,599 |
Debt Securities - Schedule of G
Debt Securities - Schedule of Gross Proceeds and Gross Realized Gains and Losses from Sales of Securities (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2017 | |
Investments, Debt and Equity Securities [Abstract] | |||
Gross proceeds from sales of securities | $ 0 | $ 0 | $ 19,279 |
Gross realized gains from sales of securities | 0 | 0 | 70 |
Gross realized losses from sales of securities | $ 0 | $ 0 | $ (48) |
Debt Securities - Schedule of_2
Debt Securities - Schedule of Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Jun. 30, 2018 |
Fair Value | ||
Less than 12 Months, Fair Value | $ 1,537 | $ 69,995 |
12 Months or More, Fair Value | 39,755 | 61,914 |
Total fair value | 41,292 | 131,909 |
Unrealized Losses | ||
Less than 12 Months, Unrealized Losses | (8) | (1,128) |
12 Months or More, Unrealized Losses | (214) | (1,188) |
Total, unrealized losses | (222) | (2,316) |
US Government Agencies Debt Securities | ||
Fair Value | ||
Less than 12 Months, Fair Value | 0 | 10,962 |
12 Months or More, Fair Value | 6,988 | 35,605 |
Total fair value | 6,988 | 46,567 |
Unrealized Losses | ||
Less than 12 Months, Unrealized Losses | 0 | (93) |
12 Months or More, Unrealized Losses | (11) | (391) |
Total, unrealized losses | (11) | (484) |
Residential Mortgage-backed Securities of U.S. Government Agencies and Government-Sponsored Enterprises | ||
Fair Value | ||
Less than 12 Months, Fair Value | 1,144 | 39,238 |
12 Months or More, Fair Value | 24,242 | 21,297 |
Total fair value | 25,386 | 60,535 |
Unrealized Losses | ||
Less than 12 Months, Unrealized Losses | (3) | (827) |
12 Months or More, Unrealized Losses | (181) | (611) |
Total, unrealized losses | (184) | (1,438) |
Municipal Bonds | ||
Fair Value | ||
Less than 12 Months, Fair Value | 0 | 19,795 |
12 Months or More, Fair Value | 4,895 | 1,446 |
Total fair value | 4,895 | 21,241 |
Unrealized Losses | ||
Less than 12 Months, Unrealized Losses | 0 | (208) |
12 Months or More, Unrealized Losses | (7) | (18) |
Total, unrealized losses | (7) | (226) |
Corporate Bonds | ||
Fair Value | ||
Less than 12 Months, Fair Value | 393 | 0 |
12 Months or More, Fair Value | 3,630 | 3,566 |
Total fair value | 4,023 | 3,566 |
Unrealized Losses | ||
Less than 12 Months, Unrealized Losses | (5) | 0 |
12 Months or More, Unrealized Losses | (15) | (168) |
Total, unrealized losses | $ (20) | $ (168) |
Debt Securities - Narrative (De
Debt Securities - Narrative (Details) $ in Thousands | Jun. 30, 2019USD ($)security | Jun. 30, 2018USD ($)security |
Debt Securities, Available-for-sale [Line Items] | ||
Securities available for sale, at fair value | $ 121,786 | $ 154,993 |
Market value of available-for-sale securities pledged as collateral | $ 94,876 | $ 135,313 |
Number of securities with unrealized losses | security | 100 | 218 |
Collateral Pledged | ||
Debt Securities, Available-for-sale [Line Items] | ||
Securities available for sale, at fair value | $ 94,337 | $ 136,914 |
Other Investments (Details)
Other Investments (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Jun. 30, 2018 |
Investments, All Other Investments [Abstract] | ||
FHLB of Atlanta | $ 31,969 | $ 29,907 |
Federal Reserve Bank of Richmond (FRB) | 7,335 | 7,307 |
Nonmarketable Investment Securities | 6,074 | 4,717 |
Other investments, at cost | $ 45,378 | $ 41,931 |
Loans - Schedule of Accounts, N
Loans - Schedule of Accounts, Notes, Loans and Financing Receivable (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Jun. 30, 2018 |
Accounts, Notes, Loans and Financing Receivable | ||
Total loans | $ 2,705,186 | $ 2,526,616 |
Deferred loan costs, net | 4 | (764) |
Total loans, net of deferred loan fees and discount | 2,705,190 | 2,525,852 |
Allowance for loan losses | (21,429) | (21,060) |
Net loans | 2,683,761 | 2,504,792 |
Retail Consumer Loans | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans | 1,162,464 | 1,219,204 |
Retail Consumer Loans | One-to-four family | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans | 660,591 | 664,289 |
Retail Consumer Loans | HELOCs - originated | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans | 131,095 | 137,564 |
Retail Consumer Loans | HELOCs - purchased | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans | 116,972 | 166,276 |
Retail Consumer Loans | Construction and land/lots | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans | 80,602 | 65,601 |
Retail Consumer Loans | Indirect auto finance | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans | 153,448 | 173,095 |
Retail Consumer Loans | Consumer | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans | 19,756 | 12,379 |
Commercial Loans | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans | 1,542,722 | 1,307,412 |
Commercial Loans | Commercial real estate | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans | 927,261 | 857,315 |
Commercial Loans | Construction and development | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans | 210,916 | 192,102 |
Commercial Loans | Commercial and industrial | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans | 160,471 | 135,336 |
Commercial Loans | Equipment Finance | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans | 132,058 | 13,487 |
Commercial Loans | Municipal leases | ||
Accounts, Notes, Loans and Financing Receivable | ||
Total loans | 112,016 | 109,172 |
Executive Officers and Directors | ||
Accounts, Notes, Loans and Financing Receivable | ||
Net loans | 1,800 | 409 |
Executive Officers and Directors | Unfunded Loan Commitment | ||
Accounts, Notes, Loans and Financing Receivable | ||
Net loans | $ 118 | $ 287 |
Premises and Equipment - Proper
Premises and Equipment - Property, Plant and Equipment (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Jun. 30, 2018 |
Property, Plant and Equipment [Abstract] | ||
Land | $ 19,730 | $ 19,934 |
Land held under capital lease | 2,052 | 2,052 |
Office buildings | 58,952 | 57,873 |
Furniture, fixtures and equipment | 15,918 | 15,582 |
Total | 96,652 | 95,441 |
Less accumulated depreciation | (35,601) | (32,904) |
Premises and equipment, net | $ 61,051 | $ 62,537 |
Loans - Financing Receivable Cr
Loans - Financing Receivable Credit Quality Indicators (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Jun. 30, 2018 |
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | $ 2,688,436 | $ 2,505,712 |
Pass | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 2,650,990 | 2,470,436 |
Special Mention | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 12,968 | 11,809 |
Substandard | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 24,058 | 22,484 |
Doubtful | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 388 | 952 |
Loss | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 32 | 31 |
Retail Consumer Loans | One-to-four family | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 654,723 | 657,472 |
Retail Consumer Loans | HELOCs - originated | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 130,870 | 137,340 |
Retail Consumer Loans | HELOCs - purchased | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 116,972 | 166,276 |
Retail Consumer Loans | Construction and land/lots | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 80,230 | 65,157 |
Retail Consumer Loans | Indirect auto finance | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 153,448 | 173,095 |
Retail Consumer Loans | Consumer | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 19,756 | 12,379 |
Retail Consumer Loans | Pass | One-to-four family | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 644,159 | 643,077 |
Retail Consumer Loans | Pass | HELOCs - originated | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 129,775 | 135,336 |
Retail Consumer Loans | Pass | HELOCs - purchased | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 116,306 | 166,089 |
Retail Consumer Loans | Pass | Construction and land/lots | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 79,995 | 64,823 |
Retail Consumer Loans | Pass | Indirect auto finance | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 152,393 | 172,675 |
Retail Consumer Loans | Pass | Consumer | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 18,601 | 11,723 |
Retail Consumer Loans | Special Mention | One-to-four family | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 2,089 | 3,576 |
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 | 71 | 23 |
Retail Consumer Loans | Special Mention | Indirect auto finance | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 13 | 0 |
Retail Consumer Loans | Special Mention | Consumer | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 656 | 85 |
Retail Consumer Loans | Substandard | One-to-four family | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 8,072 | 10,059 |
Retail Consumer Loans | Substandard | HELOCs - originated | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 976 | 1,735 |
Retail Consumer Loans | Substandard | HELOCs - purchased | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 666 | 187 |
Retail Consumer Loans | Substandard | Construction and land/lots | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 164 | 257 |
Retail Consumer Loans | Substandard | Indirect auto finance | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 1,042 | 420 |
Retail Consumer Loans | Substandard | Consumer | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 491 | 558 |
Retail Consumer Loans | Doubtful | One-to-four family | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 384 | 746 |
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 | Doubtful | Indirect auto finance | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 0 | |
Retail Consumer Loans | Doubtful | Consumer | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 3 | 2 |
Retail Consumer Loans | Loss | One-to-four family | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 19 | 14 |
Retail Consumer Loans | Loss | HELOCs - originated | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 8 | 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 |
Retail Consumer Loans | Loss | Indirect auto finance | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 0 | 0 |
Retail Consumer Loans | Loss | Consumer | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 5 | 11 |
Commercial Loans | Commercial real estate | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 919,586 | 848,076 |
Commercial Loans | Construction and development | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 209,975 | 189,875 |
Commercial Loans | Commercial and industrial | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 158,802 | 133,383 |
Commercial Loans | Equipment Finance | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 132,058 | 13,487 |
Commercial Loans | Municipal leases | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 112,016 | 109,172 |
Commercial Loans | Pass | Commercial real estate | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 901,214 | 835,485 |
Commercial Loans | Pass | Construction and development | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 207,827 | 187,187 |
Commercial Loans | Pass | Commercial and industrial | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 157,325 | 131,690 |
Commercial Loans | Pass | Equipment Finance | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 131,674 | 13,487 |
Commercial Loans | Pass | Municipal leases | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 111,721 | 108,864 |
Commercial Loans | Special Mention | Commercial real estate | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 8,066 | 5,804 |
Commercial Loans | Special Mention | Construction and development | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 790 | 621 |
Commercial Loans | Special Mention | Commercial and industrial | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 877 | 1,279 |
Commercial Loans | Special Mention | Equipment Finance | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 0 | 0 |
Commercial Loans | Special Mention | Municipal leases | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 295 | 308 |
Commercial Loans | Substandard | Commercial real estate | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 10,306 | 6,787 |
Commercial Loans | Substandard | Construction and development | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 1,357 | 2,067 |
Commercial Loans | Substandard | Commercial and industrial | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 600 | 414 |
Commercial Loans | Substandard | Equipment Finance | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 384 | 0 |
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 | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 1 | 0 |
Commercial Loans | Doubtful | Commercial and industrial | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 0 | 0 |
Commercial Loans | Doubtful | Equipment Finance | ||
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 | ||
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 | 0 | 0 |
Commercial Loans | Loss | Equipment Finance | ||
Financing Receivable, Recorded Investment | ||
Non-purchased and purchased performing loans | 0 | 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 | Jun. 30, 2019 | Jun. 30, 2018 |
Financing Receivable, Recorded Investment | ||
Total loans | $ 2,688,436 | $ 2,505,712 |
Pass | ||
Financing Receivable, Recorded Investment | ||
Total loans | 2,650,990 | 2,470,436 |
Special Mention | ||
Financing Receivable, Recorded Investment | ||
Total loans | 12,968 | 11,809 |
Substandard | ||
Financing Receivable, Recorded Investment | ||
Total loans | 24,058 | 22,484 |
Doubtful | ||
Financing Receivable, Recorded Investment | ||
Total loans | 388 | 952 |
Loss | ||
Financing Receivable, Recorded Investment | ||
Total loans | 32 | 31 |
Retail Consumer Loans | One-to-four family | ||
Financing Receivable, Recorded Investment | ||
Total loans | 654,723 | 657,472 |
Retail Consumer Loans | HELOCs - originated | ||
Financing Receivable, Recorded Investment | ||
Total loans | 130,870 | 137,340 |
Retail Consumer Loans | Construction and land/lots | ||
Financing Receivable, Recorded Investment | ||
Total loans | 80,230 | 65,157 |
Retail Consumer Loans | Pass | One-to-four family | ||
Financing Receivable, Recorded Investment | ||
Total loans | 644,159 | 643,077 |
Retail Consumer Loans | Pass | HELOCs - originated | ||
Financing Receivable, Recorded Investment | ||
Total loans | 129,775 | 135,336 |
Retail Consumer Loans | Pass | Construction and land/lots | ||
Financing Receivable, Recorded Investment | ||
Total loans | 79,995 | 64,823 |
Retail Consumer Loans | Special Mention | One-to-four family | ||
Financing Receivable, Recorded Investment | ||
Total loans | 2,089 | 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 | 71 | 23 |
Retail Consumer Loans | Substandard | One-to-four family | ||
Financing Receivable, Recorded Investment | ||
Total loans | 8,072 | 10,059 |
Retail Consumer Loans | Substandard | HELOCs - originated | ||
Financing Receivable, Recorded Investment | ||
Total loans | 976 | 1,735 |
Retail Consumer Loans | Substandard | Construction and land/lots | ||
Financing Receivable, Recorded Investment | ||
Total loans | 164 | 257 |
Retail Consumer Loans | Doubtful | One-to-four family | ||
Financing Receivable, Recorded Investment | ||
Total loans | 384 | 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 | Loss | One-to-four family | ||
Financing Receivable, Recorded Investment | ||
Total loans | 19 | 14 |
Retail Consumer Loans | Loss | HELOCs - originated | ||
Financing Receivable, Recorded Investment | ||
Total loans | 8 | 6 |
Retail Consumer Loans | Loss | Construction and land/lots | ||
Financing Receivable, Recorded Investment | ||
Total loans | 0 | 0 |
Commercial Loans | Commercial real estate | ||
Financing Receivable, Recorded Investment | ||
Total loans | 919,586 | 848,076 |
Commercial Loans | Construction and development | ||
Financing Receivable, Recorded Investment | ||
Total loans | 209,975 | 189,875 |
Commercial Loans | Commercial and industrial | ||
Financing Receivable, Recorded Investment | ||
Total loans | 158,802 | 133,383 |
Commercial Loans | Pass | Commercial real estate | ||
Financing Receivable, Recorded Investment | ||
Total loans | 901,214 | 835,485 |
Commercial Loans | Pass | Construction and development | ||
Financing Receivable, Recorded Investment | ||
Total loans | 207,827 | 187,187 |
Commercial Loans | Pass | Commercial and industrial | ||
Financing Receivable, Recorded Investment | ||
Total loans | 157,325 | 131,690 |
Commercial Loans | Special Mention | Commercial real estate | ||
Financing Receivable, Recorded Investment | ||
Total loans | 8,066 | 5,804 |
Commercial Loans | Special Mention | Construction and development | ||
Financing Receivable, Recorded Investment | ||
Total loans | 790 | 621 |
Commercial Loans | Special Mention | Commercial and industrial | ||
Financing Receivable, Recorded Investment | ||
Total loans | 877 | 1,279 |
Commercial Loans | Substandard | Commercial real estate | ||
Financing Receivable, Recorded Investment | ||
Total loans | 10,306 | 6,787 |
Commercial Loans | Substandard | Construction and development | ||
Financing Receivable, Recorded Investment | ||
Total loans | 1,357 | 2,067 |
Commercial Loans | Substandard | Commercial and industrial | ||
Financing Receivable, Recorded Investment | ||
Total loans | 600 | 414 |
Commercial Loans | Doubtful | Commercial real estate | ||
Financing Receivable, Recorded Investment | ||
Total loans | 0 | 0 |
Commercial Loans | Doubtful | Construction and development | ||
Financing Receivable, Recorded Investment | ||
Total loans | 1 | 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 | ||
Financing Receivable, Recorded Investment | ||
Total loans | 0 | 0 |
Commercial Loans | Loss | Commercial and industrial | ||
Financing Receivable, Recorded Investment | ||
Total loans | 0 | 0 |
Purchased Credit Impaired (PCI) Loans | ||
Financing Receivable, Recorded Investment | ||
Total loans | 16,781 | 20,904 |
Purchased Credit Impaired (PCI) Loans | Pass | ||
Financing Receivable, Recorded Investment | ||
Total loans | 11,113 | 12,447 |
Purchased Credit Impaired (PCI) Loans | Special Mention | ||
Financing Receivable, Recorded Investment | ||
Total loans | 2,151 | 2,550 |
Purchased Credit Impaired (PCI) Loans | Substandard | ||
Financing Receivable, Recorded Investment | ||
Total loans | 3,514 | 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 | ||
Financing Receivable, Recorded Investment | ||
Total loans | 5,868 | 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 | 372 | 444 |
Purchased Credit Impaired (PCI) Loans | Retail Consumer Loans | Pass | One-to-four family | ||
Financing Receivable, Recorded Investment | ||
Total loans | 4,124 | 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 | 142 | 444 |
Purchased Credit Impaired (PCI) Loans | Retail Consumer Loans | Special Mention | One-to-four family | ||
Financing Receivable, Recorded Investment | ||
Total loans | 248 | 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 | ||
Financing Receivable, Recorded Investment | ||
Total loans | 1,496 | 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 | 230 | 0 |
Purchased Credit Impaired (PCI) Loans | Retail Consumer Loans | Doubtful | One-to-four family | ||
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 | ||
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 | 7,706 | 9,239 |
Purchased Credit Impaired (PCI) Loans | Commercial Loans | Construction and development | ||
Financing Receivable, Recorded Investment | ||
Total loans | 941 | 2,227 |
Purchased Credit Impaired (PCI) Loans | Commercial Loans | Commercial and industrial | ||
Financing Receivable, Recorded Investment | ||
Total loans | 1,669 | 1,953 |
Purchased Credit Impaired (PCI) Loans | Commercial Loans | Pass | Commercial real estate | ||
Financing Receivable, Recorded Investment | ||
Total loans | 4,503 | 4,718 |
Purchased Credit Impaired (PCI) Loans | Commercial Loans | Pass | Construction and development | ||
Financing Receivable, Recorded Investment | ||
Total loans | 453 | 547 |
Purchased Credit Impaired (PCI) Loans | Commercial Loans | Pass | Commercial and industrial | ||
Financing Receivable, Recorded Investment | ||
Total loans | 1,666 | 1,894 |
Purchased Credit Impaired (PCI) Loans | Commercial Loans | Special Mention | Commercial real estate | ||
Financing Receivable, Recorded Investment | ||
Total loans | 1,903 | 2,162 |
Purchased Credit Impaired (PCI) Loans | Commercial Loans | Special Mention | Construction and development | ||
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 | 1,300 | 2,359 |
Purchased Credit Impaired (PCI) Loans | Commercial Loans | Substandard | Construction and development | ||
Financing Receivable, Recorded Investment | ||
Total loans | 488 | 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 | ||
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 | ||
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 | Jun. 30, 2019 | Jun. 30, 2018 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | $ 10,067 | $ 9,813 |
Current | 2,695,119 | 2,516,803 |
Total Loans Receivable | 2,705,186 | 2,526,616 |
30-89 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 5,579 | 4,160 |
90 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 4,488 | 5,653 |
Retail Consumer Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans Receivable | 1,162,464 | 1,219,204 |
Retail Consumer Loans | One-to-four family | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 3,004 | 4,757 |
Current | 657,587 | 659,532 |
Total Loans Receivable | 660,591 | 664,289 |
Retail Consumer Loans | One-to-four family | 30-89 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 1,615 | 3,001 |
Retail Consumer Loans | One-to-four family | 90 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 1,389 | 1,756 |
Retail Consumer Loans | HELOCs - originated | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 434 | 366 |
Current | 130,661 | 137,198 |
Total Loans Receivable | 131,095 | 137,564 |
Retail Consumer Loans | HELOCs - originated | 30-89 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 226 | 98 |
Retail Consumer Loans | HELOCs - originated | 90 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 208 | 268 |
Retail Consumer Loans | HELOCs - purchased | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 485 | 0 |
Current | 116,487 | 166,276 |
Total Loans Receivable | 116,972 | 166,276 |
Retail Consumer Loans | HELOCs - purchased | 30-89 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 0 | 0 |
Retail Consumer Loans | HELOCs - purchased | 90 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 485 | 0 |
Retail Consumer Loans | Construction and land/lots | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 144 | 98 |
Current | 80,458 | 65,503 |
Total Loans Receivable | 80,602 | 65,601 |
Retail Consumer Loans | Construction and land/lots | 30-89 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 138 | 44 |
Retail Consumer Loans | Construction and land/lots | 90 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 6 | 54 |
Retail Consumer Loans | Indirect auto finance | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 696 | 462 |
Current | 152,752 | 172,633 |
Total Loans Receivable | 153,448 | 173,095 |
Retail Consumer Loans | Indirect auto finance | 30-89 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 459 | 335 |
Retail Consumer Loans | Indirect auto finance | 90 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 237 | 127 |
Retail Consumer Loans | Consumer | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 37 | 277 |
Current | 19,719 | 12,102 |
Total Loans Receivable | 19,756 | 12,379 |
Retail Consumer Loans | Consumer | 30-89 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 6 | 238 |
Retail Consumer Loans | Consumer | 90 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 31 | 39 |
Commercial Loans | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans Receivable | 1,542,722 | 1,307,412 |
Commercial Loans | Commercial real estate | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 2,795 | 1,581 |
Current | 924,466 | 855,734 |
Total Loans Receivable | 927,261 | 857,315 |
Commercial Loans | Commercial real estate | 30-89 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 2,279 | 169 |
Commercial Loans | Commercial real estate | 90 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 516 | 1,412 |
Commercial Loans | Construction and development | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 1,133 | 2,188 |
Current | 209,783 | 189,914 |
Total Loans Receivable | 210,916 | 192,102 |
Commercial Loans | Construction and development | 30-89 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 0 | 260 |
Commercial Loans | Construction and development | 90 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 1,133 | 1,928 |
Commercial Loans | Commercial and industrial | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 306 | 84 |
Current | 160,165 | 135,252 |
Total Loans Receivable | 160,471 | 135,336 |
Commercial Loans | Commercial and industrial | 30-89 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 207 | 15 |
Commercial Loans | Commercial and industrial | 90 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 99 | 69 |
Commercial Loans | Equipment Finance | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 1,033 | 0 |
Current | 131,025 | 13,487 |
Total Loans Receivable | 132,058 | 13,487 |
Commercial Loans | Equipment Finance | 30-89 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 649 | 0 |
Commercial Loans | Equipment Finance | 90 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 384 | 0 |
Commercial Loans | Municipal leases | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 0 | 0 |
Current | 112,016 | 109,172 |
Total Loans Receivable | 112,016 | 109,172 |
Commercial Loans | Municipal leases | 30-89 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Past Due | 0 | 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 | Jun. 30, 2019 | Jun. 30, 2018 |
Accounts, Notes, Loans and Financing Receivable | ||
Nonaccruing | $ 10,358 | $ 10,914 |
90 Days & still accruing | 0 | 0 |
Purchased Credit Impaired (PCI) Loans | ||
Accounts, Notes, Loans and Financing Receivable | ||
Nonaccruing | 1,344 | 3,353 |
Retail Consumer Loans | One-to-four family | ||
Accounts, Notes, Loans and Financing Receivable | ||
Nonaccruing | 3,223 | 4,308 |
90 Days & still accruing | 0 | 0 |
Retail Consumer Loans | HELOCs - originated | ||
Accounts, Notes, Loans and Financing Receivable | ||
Nonaccruing | 348 | 656 |
90 Days & still accruing | 0 | 0 |
Retail Consumer Loans | HELOCs - purchased | ||
Accounts, Notes, Loans and Financing Receivable | ||
Nonaccruing | 666 | 187 |
90 Days & still accruing | 0 | 0 |
Retail Consumer Loans | Construction and land/lots | ||
Accounts, Notes, Loans and Financing Receivable | ||
Nonaccruing | 6 | 165 |
90 Days & still accruing | 0 | 0 |
Retail Consumer Loans | Indirect auto finance | ||
Accounts, Notes, Loans and Financing Receivable | ||
Nonaccruing | 463 | 255 |
90 Days & still accruing | 0 | 0 |
Retail Consumer Loans | Consumer | ||
Accounts, Notes, Loans and Financing Receivable | ||
Nonaccruing | 45 | 321 |
90 Days & still accruing | 0 | 0 |
Commercial Loans | Commercial real estate | ||
Accounts, Notes, Loans and Financing Receivable | ||
Nonaccruing | 3,559 | 2,863 |
90 Days & still accruing | 0 | 0 |
Commercial Loans | Construction and development | ||
Accounts, Notes, Loans and Financing Receivable | ||
Nonaccruing | 1,357 | 2,045 |
90 Days & still accruing | 0 | 0 |
Commercial Loans | Commercial and industrial | ||
Accounts, Notes, Loans and Financing Receivable | ||
Nonaccruing | 307 | 114 |
90 Days & still accruing | 0 | 0 |
Commercial Loans | Equipment Finance | ||
Accounts, Notes, Loans and Financing Receivable | ||
Nonaccruing | 384 | 0 |
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 | Jun. 30, 2019 | Jun. 30, 2018 |
Performing financing receivable | ||
Financing Receivable, Modifications | ||
Performing TDRs included in impaired loans | $ 23,116 | $ 21,251 |
Loans - Schedule of Allowance f
Loans - Schedule of Allowance for Credit Losses on Financing Receivables Table (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2017 | |
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||
Balance at beginning of period | $ 21,060 | $ 21,151 | $ 21,292 |
Provision for (recovery of) loan losses | 5,700 | 0 | 0 |
Charge-offs | (7,409) | (2,647) | (2,550) |
Recoveries | 2,078 | 2,556 | 2,409 |
Balance at end of period | 21,429 | 21,060 | 21,151 |
Retail Consumer Loans | |||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||
Balance at beginning of period | 7,527 | 8,585 | 11,549 |
Provision for (recovery of) loan losses | (1,244) | (906) | (2,829) |
Charge-offs | (1,136) | (1,142) | (1,219) |
Recoveries | 1,272 | 990 | 1,084 |
Balance at end of period | 6,419 | 7,527 | 8,585 |
Commercial Loans | |||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||
Balance at beginning of period | 13,050 | 11,839 | 9,382 |
Provision for (recovery of) loan losses | 7,226 | 678 | 2,463 |
Charge-offs | (6,273) | (1,033) | (1,331) |
Recoveries | 806 | 1,566 | 1,325 |
Balance at end of period | 14,809 | 13,050 | 11,839 |
Purchased Credit Impaired (PCI) Loans | |||
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||
Balance at beginning of period | 483 | 727 | 361 |
Provision for (recovery of) loan losses | (282) | 228 | 366 |
Charge-offs | 0 | (472) | 0 |
Recoveries | 0 | 0 | 0 |
Balance at end of period | $ 201 | $ 483 | $ 727 |
Loans - Schedule of Ending Bala
Loans - Schedule of Ending Balances of Loans and the Related Allowance by Segment and Class (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2016 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loan losses, PCI | $ 21,429 | $ 21,060 | $ 21,151 | $ 21,292 |
Allowance for loan losses, Loans individually evaluated for impairment | 120 | 197 | ||
Allowance for loan losses, Loans collectively evaluated | 21,108 | 20,380 | ||
Allowance for loan losses, Total | 21,429 | 21,060 | ||
Total loans receivable, PCI | 2,688,436 | 2,505,712 | ||
Total loans receivable, Loans individually evaluated for impairment | 15,743 | 13,884 | ||
Total loans receivable, Loans collectively evaluated | 2,672,662 | 2,491,828 | ||
Total loans | 2,705,186 | 2,526,616 | ||
Purchased Credit Impaired (PCI) Loans | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loan losses, PCI | 201 | 483 | 727 | 361 |
Total loans receivable, PCI | 16,781 | 20,904 | ||
Retail Consumer Loans | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loan losses, PCI | 6,419 | 7,527 | 8,585 | 11,549 |
Total loans | 1,162,464 | 1,219,204 | ||
Retail Consumer Loans | One-to-four family | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loan losses, Loans individually evaluated for impairment | 74 | 125 | ||
Allowance for loan losses, Loans collectively evaluated | 2,375 | 3,137 | ||
Allowance for loan losses, Total | 2,511 | 3,360 | ||
Total loans receivable, PCI | 654,723 | 657,472 | ||
Total loans receivable, Loans individually evaluated for impairment | 5,318 | 7,104 | ||
Total loans receivable, Loans collectively evaluated | 649,405 | 650,368 | ||
Total loans | 660,591 | 664,289 | ||
Retail Consumer Loans | One-to-four family | Purchased Credit Impaired (PCI) Loans | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loan losses, PCI | 62 | 98 | ||
Total loans receivable, PCI | 5,868 | 6,817 | ||
Retail Consumer Loans | HELOCs - originated | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loan losses, Loans individually evaluated for impairment | 7 | 6 | ||
Allowance for loan losses, Loans collectively evaluated | 1,023 | 1,117 | ||
Allowance for loan losses, Total | 1,030 | 1,123 | ||
Total loans receivable, PCI | 130,870 | 137,340 | ||
Total loans receivable, Loans individually evaluated for impairment | 7 | 452 | ||
Total loans receivable, Loans collectively evaluated | 130,863 | 136,888 | ||
Total loans | 131,095 | 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 | 518 | 795 | ||
Allowance for loan losses, Total | 518 | 795 | ||
Total loans receivable, PCI | 116,972 | 166,276 | ||
Total loans receivable, Loans individually evaluated for impairment | 0 | 0 | ||
Total loans receivable, Loans collectively evaluated | 116,972 | 166,276 | ||
Total loans | 116,972 | 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 | 1,265 | 1,134 | ||
Allowance for loan losses, Total | 1,265 | 1,153 | ||
Total loans receivable, PCI | 80,230 | 65,157 | ||
Total loans receivable, Loans individually evaluated for impairment | 323 | 583 | ||
Total loans receivable, Loans collectively evaluated | 79,907 | 64,574 | ||
Total loans | 80,602 | 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 | 372 | 444 | ||
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 | 927 | 1,126 | ||
Allowance for loan losses, Total | 927 | 1,126 | ||
Total loans receivable, PCI | 153,448 | 173,095 | ||
Total loans receivable, Loans individually evaluated for impairment | 0 | 0 | ||
Total loans receivable, Loans collectively evaluated | 153,448 | 173,095 | ||
Total loans | 153,448 | 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 | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loan losses, Loans individually evaluated for impairment | 4 | 11 | ||
Allowance for loan losses, Loans collectively evaluated | 226 | 57 | ||
Allowance for loan losses, Total | 230 | 68 | ||
Total loans receivable, PCI | 19,756 | 12,379 | ||
Total loans receivable, Loans individually evaluated for impairment | 4 | 11 | ||
Total loans receivable, Loans collectively evaluated | 19,752 | 12,368 | ||
Total loans | 19,756 | 12,379 | ||
Retail Consumer Loans | Consumer | 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 | ||
Commercial Loans | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loan losses, PCI | 14,809 | 13,050 | $ 11,839 | $ 9,382 |
Total loans | 1,542,722 | 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 | 28 | 28 | ||
Allowance for loan losses, Loans collectively evaluated | 7,890 | 8,029 | ||
Allowance for loan losses, Total | 8,036 | 8,195 | ||
Total loans receivable, PCI | 919,586 | 848,076 | ||
Total loans receivable, Loans individually evaluated for impairment | 8,692 | 3,511 | ||
Total loans receivable, Loans collectively evaluated | 910,863 | 844,565 | ||
Total loans | 927,261 | 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 | 7,706 | 9,239 | ||
Commercial Loans | Construction and development | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loan losses, Loans individually evaluated for impairment | 5 | 8 | ||
Allowance for loan losses, Loans collectively evaluated | 3,187 | 3,109 | ||
Allowance for loan losses, Total | 3,196 | 3,346 | ||
Total loans receivable, PCI | 209,975 | 189,875 | ||
Total loans receivable, Loans individually evaluated for impairment | 1,397 | 2,223 | ||
Total loans receivable, Loans collectively evaluated | 208,578 | 187,652 | ||
Total loans | 210,916 | 192,102 | ||
Commercial Loans | Construction and development | Purchased Credit Impaired (PCI) Loans | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loan losses, PCI | 4 | 229 | ||
Total loans receivable, PCI | 941 | 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 | 1,957 | 1,458 | ||
Allowance for loan losses, Total | 1,976 | 1,476 | ||
Total loans receivable, PCI | 158,802 | 133,383 | ||
Total loans receivable, Loans individually evaluated for impairment | 2 | 0 | ||
Total loans receivable, Loans collectively evaluated | 158,800 | 133,383 | ||
Total loans | 160,471 | 135,336 | ||
Commercial Loans | Commercial and industrial | Purchased Credit Impaired (PCI) Loans | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance for loan losses, PCI | 17 | 18 | ||
Total loans receivable, PCI | 1,669 | 1,953 | ||
Commercial Loans | Equipment 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 | 1,305 | 0 | ||
Allowance for loan losses, Total | 1,305 | 0 | ||
Total loans receivable, PCI | 132,058 | 13,487 | ||
Total loans receivable, Loans individually evaluated for impairment | 0 | 0 | ||
Total loans receivable, Loans collectively evaluated | 132,058 | 13,487 | ||
Total loans | 132,058 | 13,487 | ||
Commercial Loans | Equipment 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 | ||
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 | 435 | 418 | ||
Allowance for loan losses, Total | 435 | 418 | ||
Total loans receivable, PCI | 112,016 | 109,172 | ||
Total loans receivable, Loans individually evaluated for impairment | 0 | 0 | ||
Total loans receivable, Loans collectively evaluated | 112,016 | 109,172 | ||
Total loans | 112,016 | 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 | Jun. 30, 2019 | Jun. 30, 2018 |
Financing Receivable, Impaired | ||
Unpaid principal balance | $ 47,611 | $ 42,677 |
Recorded investment with a recorded allowance | 22,070 | 22,209 |
Recorded investment with no recorded allowance | 10,885 | 9,152 |
Total | 32,955 | 31,361 |
Related recorded allowance | 601 | 687 |
Impaired loans not individually evaluated | 17,212 | 17,477 |
Recorded allowance of impaired loans not individually evaluated | 481 | 490 |
Purchased Credit Impaired (PCI) Loans | ||
Financing Receivable, Impaired | ||
Unpaid principal balance | 20,141 | 25,746 |
Total | 16,750 | 20,904 |
Retail Consumer Loans | One-to-four family | ||
Financing Receivable, Impaired | ||
Unpaid principal balance | 18,302 | 23,295 |
Recorded investment with a recorded allowance | 12,461 | 16,035 |
Recorded investment with no recorded allowance | 3,152 | 4,140 |
Total | 15,613 | 20,175 |
Related recorded allowance | 472 | 554 |
Retail Consumer Loans | HELOCs - originated | ||
Financing Receivable, Impaired | ||
Unpaid principal balance | 1,262 | 2,544 |
Recorded investment with a recorded allowance | 564 | 1,017 |
Recorded investment with no recorded allowance | 130 | 737 |
Total | 694 | 1,754 |
Related recorded allowance | 9 | 9 |
Retail Consumer Loans | HELOCs - purchased | ||
Financing Receivable, Impaired | ||
Unpaid principal balance | 666 | 187 |
Recorded investment with a recorded allowance | 0 | 0 |
Recorded investment with no recorded allowance | 666 | 187 |
Total | 666 | 187 |
Related recorded allowance | 0 | 0 |
Retail Consumer Loans | Construction and land/lots | ||
Financing Receivable, Impaired | ||
Unpaid principal balance | 1,917 | 2,348 |
Recorded investment with a recorded allowance | 957 | 1,098 |
Recorded investment with no recorded allowance | 323 | 446 |
Total | 1,280 | 1,544 |
Related recorded allowance | 26 | 53 |
Retail Consumer Loans | Indirect auto finance | ||
Financing Receivable, Impaired | ||
Unpaid principal balance | 601 | 395 |
Recorded investment with a recorded allowance | 353 | 122 |
Recorded investment with no recorded allowance | 137 | 133 |
Total | 490 | 255 |
Related recorded allowance | 2 | 1 |
Retail Consumer Loans | Consumer | ||
Financing Receivable, Impaired | ||
Unpaid principal balance | 1,527 | 501 |
Recorded investment with a recorded allowance | 7 | 12 |
Recorded investment with no recorded allowance | 1,130 | 46 |
Total | 1,137 | 58 |
Related recorded allowance | 43 | 11 |
Commercial Loans | Commercial real estate | ||
Financing Receivable, Impaired | ||
Unpaid principal balance | 10,127 | 5,343 |
Recorded investment with a recorded allowance | 6,434 | 2,862 |
Recorded investment with no recorded allowance | 3,404 | 2,246 |
Total | 9,838 | 5,108 |
Related recorded allowance | 36 | 42 |
Commercial Loans | Construction and development | ||
Financing Receivable, Impaired | ||
Unpaid principal balance | 2,574 | 3,166 |
Recorded investment with a recorded allowance | 940 | 828 |
Recorded investment with no recorded allowance | 791 | 1,217 |
Total | 1,731 | 2,045 |
Related recorded allowance | 7 | 14 |
Commercial Loans | Commercial and industrial | ||
Financing Receivable, Impaired | ||
Unpaid principal balance | 10,173 | 4,898 |
Recorded investment with a recorded allowance | 354 | 235 |
Recorded investment with no recorded allowance | 768 | 0 |
Total | 1,122 | 235 |
Related recorded allowance | 6 | $ 3 |
Commercial Loans | Equipment Finance | ||
Financing Receivable, Impaired | ||
Unpaid principal balance | 462 | |
Recorded investment with a recorded allowance | 0 | |
Recorded investment with no recorded allowance | 384 | |
Total | 384 | |
Related recorded allowance | $ 0 |
Loans - Schedule of Average Rec
Loans - Schedule of Average Recorded Investment in Loans, Interest Income Recognized (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2017 | |
Financing Receivable, Impaired | |||
Average recorded investment | $ 29,098 | $ 38,103 | $ 43,091 |
Interest income recognized | 2,033 | 1,763 | 1,945 |
Retail Consumer Loans | One-to-four family | |||
Financing Receivable, Impaired | |||
Average recorded investment | 17,319 | 23,257 | 25,256 |
Interest income recognized | 950 | 1,170 | 1,147 |
Retail Consumer Loans | HELOCs - originated | |||
Financing Receivable, Impaired | |||
Average recorded investment | 1,005 | 2,304 | 2,548 |
Interest income recognized | 63 | 104 | 152 |
Retail Consumer Loans | HELOCs - purchased | |||
Financing Receivable, Impaired | |||
Average recorded investment | 320 | 189 | 48 |
Interest income recognized | 13 | 15 | 12 |
Retail Consumer Loans | Construction and land/lots | |||
Financing Receivable, Impaired | |||
Average recorded investment | 1,441 | 1,575 | 1,734 |
Interest income recognized | 94 | 109 | 139 |
Retail Consumer Loans | Indirect auto finance | |||
Financing Receivable, Impaired | |||
Average recorded investment | 373 | 256 | 106 |
Interest income recognized | 29 | 23 | 2 |
Retail Consumer Loans | Consumer | |||
Financing Receivable, Impaired | |||
Average recorded investment | 1,328 | 43 | 35 |
Interest income recognized | 67 | 17 | 20 |
Commercial Loans | Commercial real estate | |||
Financing Receivable, Impaired | |||
Average recorded investment | 5,026 | 6,496 | 7,771 |
Interest income recognized | 466 | 209 | 272 |
Commercial Loans | Construction and development | |||
Financing Receivable, Impaired | |||
Average recorded investment | 1,779 | 2,703 | 2,450 |
Interest income recognized | 65 | 56 | 58 |
Commercial Loans | Commercial and industrial | |||
Financing Receivable, Impaired | |||
Average recorded investment | 315 | 1,205 | 2,737 |
Interest income recognized | 249 | 60 | 125 |
Commercial Loans | Equipment Finance | |||
Financing Receivable, Impaired | |||
Average recorded investment | 192 | 0 | 0 |
Interest income recognized | 37 | 0 | 0 |
Commercial Loans | Municipal leases | |||
Financing Receivable, Impaired | |||
Average recorded investment | 0 | 75 | 406 |
Interest income recognized | $ 0 | $ 0 | $ 18 |
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 | 12 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Changes in Accretable Yield | ||
Accretable yield, beginning of period | $ 5,734 | $ 7,080 |
Reclass from nonaccretable yield | 576 | 513 |
Other changes, net | 1,018 | 393 |
Interest income | (2,069) | (2,252) |
Accretable yield, end of period | $ 5,259 | $ 5,734 |
Loans Loans - Schedule of Impai
Loans Loans - Schedule of Impaired PCI Loans (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Jun. 30, 2018 |
Financing Receivable, Impaired | ||
Carrying value of PCI loans | $ 32,955 | $ 31,361 |
Unpaid principal balance of PCI loans | 47,611 | 42,677 |
Purchased Credit Impaired (PCI) Loans | ||
Financing Receivable, Impaired | ||
Carrying value of PCI loans | 16,750 | 20,904 |
Unpaid principal balance of PCI loans | $ 20,141 | $ 25,746 |
Loans - Schedule of Debt Restru
Loans - Schedule of Debt Restructurings on Financing Receivables (Details) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2019USD ($)loan | Jun. 30, 2018USD ($)loan | Jun. 30, 2017USD ($)loan | |
Financing Receivable, Modifications | |||
Number of loans | loan | 29 | 31 | 41 |
Pre-modification outstanding recorded investment | $ 7,291 | $ 4,198 | $ 4,915 |
Post-modification outstanding recorded investment | $ 7,249 | $ 4,283 | $ 4,472 |
Extended term | |||
Financing Receivable, Modifications | |||
Number of loans | loan | 3 | 5 | 12 |
Pre-modification outstanding recorded investment | $ 68 | $ 550 | $ 1,005 |
Post-modification outstanding recorded investment | $ 67 | $ 534 | $ 980 |
Other Troubled Debt Restructing [Member] | |||
Financing Receivable, Modifications | |||
Number of loans | loan | 25 | 26 | 24 |
Pre-modification outstanding recorded investment | $ 7,138 | $ 3,648 | $ 3,542 |
Post-modification outstanding recorded investment | $ 7,098 | $ 3,749 | $ 3,128 |
Retail Consumer Loans | Below market interest rate | |||
Financing Receivable, Modifications | |||
Number of loans | loan | 1 | 0 | 5 |
Pre-modification outstanding recorded investment | $ 85 | $ 0 | $ 368 |
Post-modification outstanding recorded investment | $ 84 | $ 0 | $ 364 |
Retail Consumer Loans | Below market interest rate | One-to-four family | |||
Financing Receivable, Modifications | |||
Number of loans | loan | 1 | 0 | 3 |
Pre-modification outstanding recorded investment | $ 85 | $ 0 | $ 288 |
Post-modification outstanding recorded investment | $ 84 | $ 0 | $ 285 |
Retail Consumer Loans | Below market interest rate | Construction and land/lots | |||
Financing Receivable, Modifications | |||
Number of loans | loan | 0 | 0 | 2 |
Pre-modification outstanding recorded investment | $ 0 | $ 0 | $ 80 |
Post-modification outstanding recorded investment | $ 0 | $ 0 | $ 79 |
Retail Consumer Loans | Extended term | One-to-four family | |||
Financing Receivable, Modifications | |||
Number of loans | loan | 1 | 4 | 5 |
Pre-modification outstanding recorded investment | $ 34 | $ 514 | $ 186 |
Post-modification outstanding recorded investment | $ 34 | $ 502 | $ 179 |
Retail Consumer Loans | Extended term | HELOCs - originated | |||
Financing Receivable, Modifications | |||
Number of loans | loan | 0 | 0 | 1 |
Pre-modification outstanding recorded investment | $ 0 | $ 0 | $ 37 |
Post-modification outstanding recorded investment | $ 0 | $ 0 | $ 37 |
Retail Consumer Loans | Extended term | Construction and land/lots | |||
Financing Receivable, Modifications | |||
Number of loans | loan | 0 | 1 | 1 |
Pre-modification outstanding recorded investment | $ 0 | $ 36 | $ 280 |
Post-modification outstanding recorded investment | $ 0 | $ 32 | $ 264 |
Retail Consumer Loans | Extended term | Consumer | |||
Financing Receivable, Modifications | |||
Number of loans | loan | 2 | 0 | 2 |
Pre-modification outstanding recorded investment | $ 34 | $ 0 | $ 11 |
Post-modification outstanding recorded investment | $ 33 | $ 0 | $ 11 |
Retail Consumer Loans | Other Troubled Debt Restructing [Member] | One-to-four family | |||
Financing Receivable, Modifications | |||
Number of loans | loan | 18 | 25 | 13 |
Pre-modification outstanding recorded investment | $ 1,452 | $ 3,646 | $ 525 |
Post-modification outstanding recorded investment | $ 1,433 | $ 3,747 | $ 517 |
Retail Consumer Loans | Other Troubled Debt Restructing [Member] | HELOCs - originated | |||
Financing Receivable, Modifications | |||
Number of loans | loan | 0 | 0 | 2 |
Pre-modification outstanding recorded investment | $ 0 | $ 0 | $ 33 |
Post-modification outstanding recorded investment | $ 0 | $ 0 | $ 31 |
Retail Consumer Loans | Other Troubled Debt Restructing [Member] | Construction and land/lots | |||
Financing Receivable, Modifications | |||
Number of loans | loan | 1 | 0 | 4 |
Pre-modification outstanding recorded investment | $ 29 | $ 0 | $ 404 |
Post-modification outstanding recorded investment | $ 28 | $ 0 | $ 318 |
Retail Consumer Loans | Other Troubled Debt Restructing [Member] | Indirect Auto Finance [Member] | |||
Financing Receivable, Modifications | |||
Number of loans | loan | 1 | 0 | 0 |
Pre-modification outstanding recorded investment | $ 33 | $ 0 | $ 0 |
Post-modification outstanding recorded investment | $ 26 | $ 0 | $ 0 |
Retail Consumer Loans | Other Troubled Debt Restructing [Member] | Consumer | |||
Financing Receivable, Modifications | |||
Number of loans | loan | 1 | 1 | 0 |
Pre-modification outstanding recorded investment | $ 2 | $ 2 | $ 0 |
Post-modification outstanding recorded investment | $ 2 | $ 2 | $ 0 |
Commercial Loans | Extended term | Construction and development | |||
Financing Receivable, Modifications | |||
Number of loans | loan | 0 | 0 | 1 |
Pre-modification outstanding recorded investment | $ 0 | $ 0 | $ 439 |
Post-modification outstanding recorded investment | $ 0 | $ 0 | $ 439 |
Commercial Loans | Extended term | Commercial and industrial | |||
Financing Receivable, Modifications | |||
Number of loans | loan | 0 | 0 | 2 |
Pre-modification outstanding recorded investment | $ 0 | $ 0 | $ 52 |
Post-modification outstanding recorded investment | $ 0 | $ 0 | $ 50 |
Commercial Loans | Other Troubled Debt Restructing [Member] | Construction and development | |||
Financing Receivable, Modifications | |||
Number of loans | loan | 1 | 0 | 0 |
Pre-modification outstanding recorded investment | $ 182 | $ 0 | $ 0 |
Post-modification outstanding recorded investment | $ 182 | $ 0 | $ 0 |
Commercial Loans | Other Troubled Debt Restructing [Member] | Commercial real estate | |||
Financing Receivable, Modifications | |||
Number of loans | loan | 3 | 0 | 3 |
Pre-modification outstanding recorded investment | $ 5,440 | $ 0 | $ 2,349 |
Post-modification outstanding recorded investment | $ 5,427 | $ 0 | $ 2,035 |
Commercial Loans | Other Troubled Debt Restructing [Member] | Commercial and industrial | |||
Financing Receivable, Modifications | |||
Number of loans | loan | 0 | 0 | 2 |
Pre-modification outstanding recorded investment | $ 0 | $ 0 | $ 231 |
Post-modification outstanding recorded investment | $ 0 | $ 0 | $ 227 |
Loans - Schedule of Troubled _2
Loans - Schedule of Troubled Debt Restructurings With Payment Default (Details) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2019USD ($)loan | Jun. 30, 2018USD ($)loan | Jun. 30, 2017USD ($)loan | |
Financing Receivable, Modifications | |||
Number of loans | loan | 2 | 5 | 3 |
Recorded investment | $ | $ 74 | $ 277 | $ 46 |
Other Troubled Debt Restructing [Member] | |||
Financing Receivable, Modifications | |||
Number of loans | loan | 2 | 5 | 3 |
Recorded investment | $ | $ 74 | $ 277 | $ 46 |
Retail Consumer Loans | Other Troubled Debt Restructing [Member] | One-to-four family | |||
Financing Receivable, Modifications | |||
Number of loans | loan | 1 | 5 | 2 |
Recorded investment | $ | $ 72 | $ 277 | $ 27 |
Retail Consumer Loans | Other Troubled Debt Restructing [Member] | Construction and land/lots | |||
Financing Receivable, Modifications | |||
Number of loans | loan | 0 | 0 | 1 |
Recorded investment | $ | $ 0 | $ 0 | $ 19 |
Retail Consumer Loans | Other Troubled Debt Restructing [Member] | Consumer | |||
Financing Receivable, Modifications | |||
Number of loans | loan | 1 | 0 | 0 |
Recorded investment | $ | $ 2 | $ 0 | $ 0 |
Accrued Interest Receivable - S
Accrued Interest Receivable - Schedule of Accrued Interest Receivable (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Jun. 30, 2018 |
Receivables [Abstract] | ||
Loans | $ 9,433 | $ 8,164 |
Securities available for sale | 690 | 776 |
Other | 410 | 404 |
Total | $ 10,533 | $ 9,344 |
Real Estate Owned - Activity Wi
Real Estate Owned - Activity Within REO (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2017 | |
Activity within REO | |||
Balance at beginning of period | $ 3,684 | $ 6,318 | |
Transfers from loans | 731 | 1,346 | $ 2,417 |
Sales, net of gain/loss | (1,191) | (3,471) | |
Writedowns | (295) | (539) | |
Capital improvements | 0 | 30 | 11 |
Balance at end of period | $ 2,929 | $ 3,684 | $ 6,318 |
Real Estate Owned - Narrative (
Real Estate Owned - Narrative (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2017 |
Financing Receivable, Modifications | |||
Real estate owned (REO) | $ 2,929 | $ 3,684 | $ 6,318 |
Consumer | Retail Consumer Loans | |||
Financing Receivable, Modifications | |||
Real estate owned (REO) | 1,018 | 998 | |
Mortgage loans in process of foreclosure | $ 243 | $ 395 |
Goodwill and Core Deposit Int_3
Goodwill and Core Deposit Intangibles - Changes in Carrying Amount of Goodwill (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2017 | |
Goodwill [Line Items] | |||
Goodwill | $ 25,638 | $ 25,638 | |
Core Deposits | |||
Goodwill [Line Items] | |||
Amortization expense related to core deposit intangibles in acquisitions | $ 2,029 | $ 2,645 | $ 2,823 |
Goodwill and Core Deposit Int_4
Goodwill and Core Deposit Intangibles - Amortization expense related to core deposit intangibles (Details) $ in Thousands | Jun. 30, 2019USD ($) |
Goodwill and Intangible Assets Disclosure [Abstract] | |
2020 | $ 1,414 |
2021 | 741 |
2022 | 251 |
2023 | 90 |
2024 | 3 |
Total | $ 2,499 |
Deposit Accounts - Schedule of
Deposit Accounts - Schedule of Deposit Accounts (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Jun. 30, 2018 |
Banking and Thrift [Abstract] | ||
Noninterest-bearing accounts | $ 294,322 | $ 317,822 |
NOW accounts | 452,295 | 471,364 |
Money market accounts | 691,172 | 677,665 |
Savings accounts | 177,278 | 213,250 |
Certificates of deposit | 712,190 | 516,152 |
Deposits | $ 2,327,257 | $ 2,196,253 |
Deposits, by Type [Line Items] | ||
Weighted Average Interest Rates (as a percent) | 0.91% | 0.42% |
Deposits received from executive officers and directors and their associates | $ 4,448 | $ 5,692 |
Noninterest-bearing accounts | ||
Deposits, by Type [Line Items] | ||
Weighted Average Interest Rates (as a percent) | 0.00% | 0.00% |
NOW accounts | ||
Deposits, by Type [Line Items] | ||
Weighted Average Interest Rates (as a percent) | 0.15% | 0.11% |
Money market accounts | ||
Deposits, by Type [Line Items] | ||
Weighted Average Interest Rates (as a percent) | 0.89% | 0.48% |
Savings accounts | ||
Deposits, by Type [Line Items] | ||
Weighted Average Interest Rates (as a percent) | 0.12% | 0.13% |
Certificates of deposit | ||
Deposits, by Type [Line Items] | ||
Weighted Average Interest Rates (as a percent) | 1.99% | 1.01% |
Deposit Accounts - Schedule o_2
Deposit Accounts - Schedule of Maturities of Certificates of Deposit (Details) $ in Thousands | Jun. 30, 2019USD ($) |
Banking and Thrift [Abstract] | |
2020 | $ 515,519 |
2021 | 114,927 |
2022 | 52,905 |
2023 | 17,868 |
2024 | 10,971 |
Thereafter | 0 |
Total | $ 712,190 |
Deposit Accounts - Certificates
Deposit Accounts - Certificates of Deposit With Balances of $100 Or Greater (Details) - USD ($) | Jun. 30, 2019 | Jun. 30, 2018 |
Banking and Thrift [Abstract] | ||
Certificates of deposit, minimum account balance | $ 250,000 | |
Certificates of Deposit With Balances of $250 or Greater | 93,654,000 | $ 70,553,000 |
FDIC insured amount | $ 250,000 |
Deposit Accounts - Schedule o_3
Deposit Accounts - Schedule of Interest Expense on Deposits (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2017 | |
Banking and Thrift [Abstract] | |||
NOW accounts | $ 1,251 | $ 970 | $ 772 |
Money market accounts | 5,102 | 2,442 | 1,405 |
Savings accounts | 245 | 295 | 308 |
Certificates of deposit | 9,159 | 3,051 | 2,103 |
Total | $ 15,757 | $ 6,758 | $ 4,588 |
Borrowings (Details)
Borrowings (Details) $ in Thousands | Jun. 30, 2019USD ($)bank | Jun. 30, 2018USD ($) |
Balance | ||
FHLB Advances | $ 680,000 | $ 635,000 |
Weighted Average Rate | ||
FHLB Advances | 2.10% | 1.95% |
Amount available to borrow in additional FHLB advances | $ 89,499 | $ 79,226 |
Number of unaffiliated banks | bank | 3 | |
FRB | Line of Credit | ||
Weighted Average Rate | ||
Unused line of credit | $ 130,036 | 132,349 |
Unaffiliated Banks | Line of Credit | ||
Weighted Average Rate | ||
Unused line of credit | 70,000 | $ 60,000 |
$15,000 Advance Due 7/1/2019 | ||
Balance | ||
FHLB Advances | $ 15,000 | |
Weighted Average Rate | ||
Federal home loan bank, advances, interest rate | 2.47% | |
$45,000 Advance Due 7/8/2019 | ||
Balance | ||
FHLB Advances | $ 45,000 | |
Weighted Average Rate | ||
Federal home loan bank, advances, interest rate | 2.40% | |
$135,000 Advance Due 782/2019 | ||
Balance | ||
FHLB Advances | $ 135,000 | |
Weighted Average Rate | ||
Federal home loan bank, advances, interest rate | 2.44% | |
$10,000 Advance Due 7/10/2019 | ||
Balance | ||
FHLB Advances | $ 10,000 | |
Weighted Average Rate | ||
Federal home loan bank, advances, interest rate | 2.40% | |
$40,000 Advance Due 7/10/2019 | ||
Balance | ||
FHLB Advances | $ 40,000 | |
Weighted Average Rate | ||
Federal home loan bank, advances, interest rate | 2.42% | |
$130,000 Advance Due 7/15/2019 | ||
Balance | ||
FHLB Advances | $ 130,000 | |
Weighted Average Rate | ||
Federal home loan bank, advances, interest rate | 2.33% | |
$5,000 Advance Due 7/29/2019 | ||
Balance | ||
FHLB Advances | $ 5,000 | |
Weighted Average Rate | ||
Federal home loan bank, advances, interest rate | 2.33% | |
$25,000 Advance Due 9/20/2019 | ||
Balance | ||
FHLB Advances | $ 25,000 | |
Weighted Average Rate | ||
Federal home loan bank, advances, interest rate | 0.86% | |
$100,000 Advance Due 3/6/2028 | ||
Balance | ||
FHLB Advances | $ 100,000 | |
Weighted Average Rate | ||
Federal home loan bank, advances, interest rate | 1.72% | |
$50,000 Advance Due 3/22/2028 | ||
Balance | ||
FHLB Advances | $ 50,000 | |
Weighted Average Rate | ||
Federal home loan bank, advances, interest rate | 1.82% | |
$50,000 Advance Due 6/5/2028 | ||
Balance | ||
FHLB Advances | $ 50,000 | |
Weighted Average Rate | ||
Federal home loan bank, advances, interest rate | 1.87% | |
$25,000 Advance Due 9/13/2028 | ||
Balance | ||
FHLB Advances | $ 25,000 | |
Weighted Average Rate | ||
Federal home loan bank, advances, interest rate | 1.76% | |
$25,000 Advance Due 11/24/2028 | ||
Balance | ||
FHLB Advances | $ 25,000 | |
Weighted Average Rate | ||
Federal home loan bank, advances, interest rate | 2.07% | |
$25,000 Advance Due 11/24/2028 | ||
Balance | ||
FHLB Advances | $ 25,000 | |
Weighted Average Rate | ||
Federal home loan bank, advances, interest rate | 1.79% |
Leases - Narrative (Details)
Leases - Narrative (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2017 | |
Leases [Abstract] | |||
Rent expense under operating leases | $ 1,847 | $ 1,829 | $ 1,583 |
Capital lease obligations included in property plant and equipment | 2,052 | $ 2,052 | |
Leased assets | 10,000 | ||
Operating lease, residual value of leased asset | 5,800 | ||
Lease income | $ 936 |
Leases - Schedule of Future Min
Leases - Schedule of Future Minimum Rental Payments for Operating Leases (Details) $ in Thousands | Jun. 30, 2019USD ($) |
Leases [Abstract] | |
2020 | $ 1,660 |
2021 | 1,395 |
2022 | 1,296 |
2023 | 1,291 |
2024 | 643 |
Thereafter | 1,076 |
Total of future minimum payments | $ 7,361 |
Leases - Schedule of Future M_2
Leases - Schedule of Future Minimum Lease Payments for Capital Leases (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Jun. 30, 2018 |
Leases [Abstract] | ||
2020 | $ 134 | |
2021 | 134 | |
2022 | 134 | |
2023 | 134 | |
2024 | 145 | |
Thereafter | 1,995 | |
Total minimum lease payments | 2,676 | |
Less: amount representing interest | (796) | |
Present value of net minimum lease payments | $ 1,880 | $ 1,914 |
Leases - Schedule of Future M_3
Leases - Schedule of Future Minimum Leases Payments to be Received (Details) $ in Thousands | Jun. 30, 2019USD ($) |
Leases [Abstract] | |
2020 | $ 2,066 |
2021 | 4,499 |
2022 | 3,011 |
2023 | 175 |
2024 | 244 |
Thereafter | 0 |
Total of future minimum payments | $ 9,995 |
Income Taxes - Schedule of Comp
Income Taxes - Schedule of Components of Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2017 | |
Current: | |||||||||||
Federal | $ 755 | $ 291 | $ 191 | ||||||||
State | 690 | 324 | 54 | ||||||||
Total current expense | 1,445 | 615 | 245 | ||||||||
Deferred: | |||||||||||
Federal | 5,404 | 7,909 | 4,561 | ||||||||
State | 267 | 625 | 386 | ||||||||
Adjustment due to the Tax Cuts and Jobs Act (“Tax Act”) | (325) | 17,587 | 0 | ||||||||
Total deferred expense | 5,346 | 26,121 | 4,947 | ||||||||
Total income tax expense | $ 2,107 | $ 185 | $ 2,287 | $ 2,212 | $ 2,011 | $ 2,707 | $ 19,508 | $ 2,510 | $ 6,791 | $ 26,736 | $ 5,192 |
Income Taxes - Schedule of Effe
Income Taxes - Schedule of Effective Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2017 | |
Income Tax Disclosure [Abstract] | |||
Tax at federal income tax rate | $ 7,127 | $ 9,617 | $ 5,793 |
Tax at federal income tax rate, Rate (as a percent) | 21.00% | 27.50% | 34.00% |
Tax exempt income | $ (855) | $ (1,075) | $ (1,391) |
Tax exempt income, Rate (as a percent) | (2.00%) | (3.00%) | (8.00%) |
Nondeductible merger expenses | $ 0 | $ 0 | $ 91 |
Nondeductible merger expenses, Rate (as a percent) | (0.00%) | (0.00%) | 1.00% |
Change in valuation allowance for deferred tax assets, allocated to income tax expense | $ (325) | $ 87 | $ (327) |
Change in valuation allowance for deferred tax assets, allocated to income tax expense, Rate (as a percent) | (1.00%) | 0.00% | (2.00%) |
State tax, net of federal benefit | $ 756 | $ 688 | $ 290 |
State tax, net of federal benefit, Rate (as a percent) | 2.00% | 2.00% | 2.00% |
Tax Cuts and Jobs Act of 2017, Adjustment, Rate Reconciliation | $ 0 | $ 17,587 | $ 0 |
Tax Cuts And Jobs Act of 2017, Adjustment, Percent | 0.00% | 50.00% | 0.00% |
Other | $ 88 | $ (168) | $ 736 |
Other, Rate (as a percent) | 0.00% | (1.00%) | 4.00% |
Total | $ 6,791 | $ 26,736 | $ 5,192 |
Total, Rate (as a percent) | 20.00% | 76.00% | 31.00% |
Income Taxes - Schedule of Defe
Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Jun. 30, 2018 |
Deferred tax assets: | ||
Alternative minimum tax credit | $ 4,799 | $ 4,920 |
Allowance for loan losses | 4,685 | 4,637 |
Deferred compensation and post-retirement benefits | 8,988 | 9,400 |
Accrued vacation and sick leave | 18 | 18 |
Impairments on real estate owned | 461 | 495 |
Other than temporary impairment on investments | 2,232 | 2,254 |
Net operating loss carryforward | 5,092 | 8,635 |
Discount from business combination | 2,373 | 2,605 |
Unrealized loss on securities held for sale | 0 | 477 |
Stock compensation plans | 2,162 | 2,271 |
Other | 1,140 | 1,562 |
Total gross deferred tax assets | 31,950 | 37,274 |
Less valuation allowance | 0 | (325) |
Deferred tax assets | 31,950 | 36,949 |
Deferred tax (liabilities): | ||
Depreciable basis of fixed assets | (1,089) | (566) |
Deferred loan fees | (520) | (453) |
FHLB stock, book basis in excess of tax | (89) | (89) |
Unrealized gain on securities available for sale | (219) | 0 |
Other | (3,510) | (3,276) |
Total gross deferred tax liabilities | (5,427) | (4,384) |
Net deferred tax assets | $ 26,523 | $ 32,565 |
Income Taxes Income Taxes - Tax
Income Taxes Income Taxes - Tax Cut and Job Acts 2017 (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2017 | |
Income Tax Disclosure [Abstract] | |||
Tax Cuts And Jobs Act Of 2017, deferred tax asset, provisional income tax expense (benefit) | $ 17,600 | ||
Tax Cuts and Jobs Act of 2017, existing income tax expense (benefit) | $ 325,000 | ||
Tax at federal income tax rate, Rate (as a percent) | 21.00% | 27.50% | 34.00% |
Income Taxes - Deferred Tax Ass
Income Taxes - Deferred Tax Asset and Liability Policy: Net Operating Loss Carryforwards Included in Deferred Tax Assets (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Jun. 30, 2018 |
Income Tax Disclosure [Abstract] | ||
Net operating loss carry forwards | $ 24,248 | $ 40,780 |
Recorded tax benefit | $ 5,092 | $ 8,635 |
Income Taxes - Deferred Tax A_2
Income Taxes - Deferred Tax Asset and Liability Policy: Valuation Allowance for Deferred Tax Assets (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2019 | |
Income Tax Disclosure [Abstract] | ||
Deferred tax assets, valuation allowance | $ 325 | $ 0 |
Net decrease in total valuation allowance | 325 | |
Amount in retained earnings for bad debt reserve with no deferred tax liability | $ 19,570 | $ 19,570 |
Employee Benefit Plans - Narrat
Employee Benefit Plans - Narrative (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2017 | |
Retirement Benefits [Abstract] | |||
Employee stock ownership plan, requisite service for eligibility | 1000 hours | ||
Employee stock ownership plan, period for eligibility | 12 months | ||
Employee stock ownership plan, minimum age for eligibility | 21 years | ||
Employer matching contribution, percent of match | 50.00% | ||
Employer matching contribution, percent of employees' gross pay | 6.00% | ||
Employee service period | 6 years | ||
Defined contribution plan, administrative expenses | $ 810 | $ 737 | $ 450 |
ESOP compensation expense | 1,422 | 1,367 | 1,186 |
Executive Medical Care Plan (EMCP) expenses | 210 | 224 | $ 135 |
Executive Medical Care Plan (EMCP) accrued expenses | $ 5,289 | $ 5,237 |
Employee Benefit Plans - Schedu
Employee Benefit Plans - Schedule of Shares Held by the Employee Stock Ownership Plan (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Jun. 30, 2018 |
Retirement Benefits [Abstract] | ||
Unallocated ESOP shares (in shares) | 687,700 | 740,600 |
Allocated ESOP shares (in shares) | 317,400 | 264,500 |
ESOP shares committed to be released (in shares) | 52,900 | 52,900 |
Total ESOP shares (in shares) | 1,058,000 | 1,058,000 |
Fair value of unallocated ESOP shares | $ 17,289 | $ 20,848 |
Deferred Compensation Agreeme_3
Deferred Compensation Agreements - Narrative (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2017 | |
Retirement Benefits [Abstract] | |||
Director emeritus plans expenses | $ 410 | $ 417 | $ 419 |
Director Emeritus Plans accrued expenses included in other liabilities | 8,268 | 8,542 | |
Expense for Board of Director plans | 28 | 32 | 34 |
Expense for Officer Plans | 771 | 519 | 1,253 |
Expense included in other liabilities for officer plans | 19,499 | 20,257 | |
Deferred compensation plan for officers and directors expense | 223 | 205 | $ 197 |
Deferred compensation plan for officers and directors expense included in other liabilities | $ 4,966 | $ 5,274 |
Deferred Compensation Agreeme_4
Deferred Compensation Agreements - Schedule of Net Cash Surrender Value Life Insurance Policies and Deferred Compensation Liability (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Jun. 30, 2018 |
Retirement Benefits [Abstract] | ||
Net cash surrender value of life insurance, related to deferred compensation | $ 7,413 | $ 7,142 |
Deferred compensation liability, included in other liabilities | $ 956 | $ 1,075 |
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 | 12 Months Ended | |||||||||
Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2017 | |
Earnings Per Share [Abstract] | |||||||||||
Net Income | $ 8,013 | $ 3,302 | $ 8,041 | $ 7,790 | $ 7,207 | $ 6,127 | $ (10,666) | $ 5,567 | $ 27,146 | $ 8,235 | $ 11,847 |
Allocation of earnings to participating securities | (189) | (60) | (125) | ||||||||
Numerator for basic EPS - Net income available to common stockholders | 26,957 | 8,175 | 11,722 | ||||||||
Effect of dilutive securities: | |||||||||||
Dilutive effect to participating securities | 7 | 2 | 4 | ||||||||
Numerator for diluted EPS | $ 26,964 | $ 8,177 | $ 11,726 | ||||||||
Denominator: | |||||||||||
Weighted-average common shares outstanding - basic (in shares) | 17,692,493 | 18,028,854 | 17,379,487 | ||||||||
Effect of dilutive shares (in shares) | 700,691 | 697,577 | 576,956 | ||||||||
Weighted-average common shares outstanding - diluted (in shares) | 18,393,184 | 18,726,431 | 17,956,443 | ||||||||
Net income per share - basic (in dollars per share) | $ 1.52 | $ 0.45 | $ 0.66 | ||||||||
Net income per share - diluted (in dollars per share) | $ 1.46 | $ 0.44 | $ 0.65 |
Net Income per Share - Narrativ
Net Income per Share - Narrative (Details) - shares | 12 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Earnings Per Share [Abstract] | ||
Antidilutive securities excluded from computation of earnings per share (in shares) | 455,800 | 420,800 |
Equity Incentive Plan - Narrati
Equity Incentive Plan - Narrative (Details) - USD ($) | Jun. 30, 2013 | Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2014 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Equity incentive plan name | 2013 Omnibus Incentive Plan | |||||
Stock repurchase program, authorized amount | $ 13,297,000 | |||||
Average cost per share repurchased (in dollars per share) | $ 15.71 | |||||
Restricted stock and stock option expense | $ 1,601,000 | $ 3,027,000 | $ 4,166,000 | |||
Tax benefit from exercise of stock options and restricted stock | $ 376,000 | $ 908,000 | $ 1,541,000 | |||
Options outstanding (in shares) | 377,600 | 494,800 | ||||
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. | |||||
Shares authorized (in shares) | 2,962,400 | |||||
Shares authorized for stock options and stock appreciation rights (in shares) | 2,116,000 | |||||
Shares authorized for awards of restricted stock and restricted stock units (in shares) | 846,400 | 846,400 | ||||
Stock Options | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Unrecognized compensation expense | $ 2,133,000 | $ 2,705,000 | ||||
Options outstanding (in shares) | 1,657,214 | 1,718,270 | 1,470,043 | 1,529,300 | ||
Unrecognized compensation cost, period for recognition | 1 year 11 months | 2 years 4 months 1 day | ||||
Share-based payment award, expiration period | 10 years | |||||
Restricted Stock | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Unrecognized compensation expense | $ 2,547,000 | $ 2,570,000 | ||||
Granted (in shares) | 34,000 | 55,200 | 47,500 | |||
Unrecognized compensation cost description | 123,800 shares of restricted stock originally scheduled to vest over five- and seven-year vesting periods | 133,410 shares of restricted stock originally scheduled to vest over five- and seven-year vesting periods | ||||
Non-option equity instruments, outstanding (in shares) | 123,800 | 133,410 | ||||
Weighted average period for recognition of unrecognized compensation expense | 1 year 11 months | 2 years 1 month | ||||
Performance Shares | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Stock options/awards, vesting period | 3 years | |||||
Granted (in shares) | 10,375 | |||||
Minimum | Stock Options | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Stock options/awards, vesting period | 5 years | 5 years | ||||
Minimum | Restricted Stock | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Stock options/awards, vesting period | 5 years | 5 years | ||||
Maximum | Stock Options | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Stock options/awards, vesting period | 7 years | 7 years | ||||
Maximum | Restricted Stock | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Stock options/awards, vesting period | 7 years | 7 years |
Equity Incentive Plan - Stock O
Equity Incentive Plan - Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2015 | Jun. 30, 2016 | |
Options | |||||
Options outstanding at beginning of period (in shares) | 494,800 | ||||
Options outstanding at end of period (in shares) | 377,600 | 494,800 | |||
Weighted- average exercise price | |||||
Exercisable, weighted average exercise price (in dollars per share) | $ 14.82 | ||||
Stock Options | |||||
Options | |||||
Options outstanding at beginning of period (in shares) | 1,718,270 | 1,470,043 | 1,529,300 | ||
Granted (in shares) | 40,500 | 360,400 | 60,500 | ||
Exercised (in shares) | 80,311 | 44,200 | 185,142 | ||
Forfeited (in shares) | 20,300 | 24,700 | 19,000 | ||
Expired (in shares) | 945 | 43,273 | 1,800 | ||
Options outstanding at end of period (in shares) | 1,657,214 | 1,718,270 | 1,470,043 | ||
Options Exercisable (in shares) | 1,279,614 | 1,223,470 | 1,033,943 | ||
Options, Nonvested, Number of Shares | 377,600 | ||||
Weighted- average exercise price | |||||
Options outstanding weighted average exercise price at beginning of year (in dollars per share) | $ 17.29 | $ 15.22 | $ 14.50 | ||
Granted, Weighted average exercise price (in dollars per share) | 27.51 | 26.01 | 24.95 | ||
Exercised, Weighted average exercise price (in dollars per share) | 14.62 | 14.72 | 16.56 | ||
Forfeited, Weighted average exercise price (in dollars per share) | 23.30 | 14.43 | 14.53 | ||
Expired, Weighted average exercise price (in dollars per share) | 23.82 | 23.82 | 14.37 | ||
Options outstanding weighted average exercise price at end of year (in dollars per share) | 17.59 | 17.29 | $ 15.22 | ||
Exercisable, weighted average exercise price (in dollars per share) | 15.39 | $ 14.51 | |||
Option, nonvested, weighted average exercise price (in dollars per share) | $ 25.04 | ||||
Options outstanding, remaining contractual life | 5 years | 5 years 10 months 10 days | 5 years 9 months 18 days | 6 years 9 months 18 days | |
Weighted average remaining contractual term | 4 years 1 month | ||||
Average remaining contractual life | 8 years 4 months | ||||
Options outstanding, aggregate intrinsic value | $ 12,909 | $ 18,664 | $ 13,533 | $ 6,117 | |
Exercisable, intrinsic value | 12,549 | ||||
Options, nonvested, intrinsic value | $ 360 | ||||
TriSummit Bancorp | |||||
Options | |||||
Granted (in shares) | 86,185 | ||||
Weighted- average exercise price | |||||
Granted, Weighted average exercise price (in dollars per share) | $ 23.82 |
Equity Incentive Plan - Schedul
Equity Incentive Plan - Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions (Details) - $ / shares | 12 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||
Weighted-average volatility | 17.84% | 17.69% |
Expected dividend yield | 0.87% | 0.00% |
Risk-free interest rate | 2.52% | 2.67% |
Expected life (years) | 6 years 6 months | 6 years 6 months |
Weighted average grant date fair value (in dollars per share) | $ 5.88 | $ 6.62 |
Equity Incentive Plan - Equity
Equity Incentive Plan - Equity Incentive Plan Restricted Award Activity (Details) - Restricted Stock - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2016 | |
Restricted stock awards | ||||
Non-vested at beginning of period (in shares) | 133,410 | 185,630 | 248,750 | |
Granted (in shares) | 34,000 | 55,200 | 47,500 | |
Vested (in shares) | 39,310 | 100,820 | 104,620 | |
Forfeited (in shares) | 4,300 | 6,600 | 6,000 | |
Non-vested at end of period (in shares) | 123,800 | 133,410 | 185,630 | |
Weighted- average grant date fair value | ||||
Non-vested at beginning of period (in dollars per share) | $ 22.85 | $ 17.46 | $ 14.81 | |
Granted (in dollars per share) | 27.51 | 25.89 | 24.70 | |
Vested (in dollars per share) | 21.64 | 15.14 | 14.58 | |
Forfeited (in dollars per share) | 19.08 | 14.37 | 15.07 | |
Non-vested at end of period (in dollars per share) | $ 24.65 | $ 22.85 | $ 17.46 | |
Aggregate Intrinsic Value | $ 2,258 | $ 3,755 | $ 3,419 | $ 4,602 |
Commitments and Contingencies -
Commitments and Contingencies - Narrative (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Loss Contingencies [Line Items] | ||
Undisbursed portions of construction loans | $ 181,477 | $ 209,726 |
Loan commitments | 93,432 | 49,949 |
Variable rate loan commitments | 34,631 | 19,812 |
Fixed rate loan commitments | 58,801 | 30,137 |
Pre-approved but unused lines of credit | 353,663 | 491,649 |
Cash reserve deposit required and made | 2,633 | 2,304 |
Letters of credit outstanding | $ 9,460 | $ 8,227 |
Minimum | ||
Loss Contingencies [Line Items] | ||
Fixed rate interest rate (as a percent) | 2.69% | 2.10% |
Loan commitments terms | 3 years | |
Maximum | ||
Loss Contingencies [Line Items] | ||
Fixed rate interest rate (as a percent) | 8.59% | 6.15% |
Loan commitments terms | 30 years |
Capital - Narrative (Details)
Capital - Narrative (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Jun. 30, 2018 |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Stockholder's equity | $ 408,896 | $ 409,242 |
Common Equity Tier I Capital, Capital Conservation Buffer to Risk-weighted Assets (as a percent) | 2.50% | |
Common Equity Tier I Capital, Capital Conservation Buffer (as a percent) | 4.30% | |
HomeTrust Bancshares, Inc. | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||
Stockholder's equity | $ 408,896 | $ 409,242 |
Common Equity Tier I Capital, Capital Conservation Buffer (as a percent) | 4.90% |
Capital - Schedule of Complianc
Capital - Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Jun. 30, 2018 |
Common Equity Tier I Capital | ||
Common Equity Tier I Capital | $ 355,759 | $ 335,152 |
Common Equity Tier I Capital (as a percent) | 11.59% | 11.70% |
Common Equity Tier I Capital, Minimum for Capital Adequacy Purposes | $ 138,153 | $ 128,889 |
Common Equity Tier I Capital, Minimum for Capital Adequacy Purposes (as a percent) | 4.50% | 4.50% |
Common Equity Tier I Capital, Minimum for Be Well Capitalized | $ 199,555 | $ 186,173 |
Common Equity Tier I Capital, Minimum to Be Well Capitalized (as a percent) | 6.50% | 6.50% |
Tier I Capital (to Total Adjusted Assets) | ||
Tier 1 Capital (to Total Adjusted Assets) | $ 355,759 | $ 335,152 |
Tier 1 Capital (to Total Adjusted Assets) (as a percent) | 10.34% | 10.33% |
Tier 1 Capital (to Total Adjusted Assets), Minimum for Capital Adequacy Purposes | $ 137,590 | $ 129,769 |
Tier 1 Capital (to Total Adjusted Assets), Minimum for Capital Adequacy Purposes (as a percent) | 4.00% | 4.00% |
Tier 1 Capital (to Total Adjusted Assets), Minimum to Be Well Capitalized | $ 171,988 | $ 162,211 |
Tier 1 Capital (to Total Adjusted Assets), Minimum to Be Well Capitalized (as a percent) | 5.00% | 5.00% |
Tier I Capital (to Risk-weighted Assets) | ||
Tier 1 Capital (to Risk-weighted Assets) | $ 355,759 | $ 335,152 |
Tier 1 Capital (to Risk-weighted Assets) (as a percent) | 11.59% | 11.70% |
Tier 1 Capital (to Risk-weighted Assets), Minimum for Capital Adequacy Purposes | $ 184,204 | $ 171,852 |
Tier 1 Capital (to Risk-weighted Assets), Minimum for Capital Adequacy Purposes (as a percent) | 6.00% | 6.00% |
Tier 1 Capital (to Risk-weighted Assets), Minimum to Be Well Capitalized | $ 245,606 | $ 229,136 |
Tier I Capital (to Risk-weighted Assets), Minimum to Be Well Capitalized (as a percent) | 8.00% | 8.00% |
Total Risk-based Capital (to Risk-weighted Assets) | ||
Total Risk-based Capital (to Risk-weighted Assets) | $ 377,639 | $ 356,603 |
Total Risk-based Capital (to Risk-weighted Assets) (as a percent) | 12.30% | 12.45% |
Total Risk-based Capital (to Risk-weighted Assets), Minimum for Capital Adequacy Purposes | $ 245,606 | $ 229,136 |
Total Risk-based Capital (to Risk-weighted Assets), Minimum for Capital Adequacy Purposes (as a percent) | 8.00% | 8.00% |
Total Risk-based Capital (to Risk-weighted Assets), Minimum to Be Well Capitalized | $ 307,007 | $ 286,421 |
Total Risk-based Capital (to Risk-weighted Assets), Minimum to Be Well Capitalized (as a percent) | 10.00% | 10.00% |
HomeTrust Bancshares, Inc. | ||
Common Equity Tier I Capital | ||
Common Equity Tier I Capital | $ 374,729 | $ 372,188 |
Common Equity Tier I Capital (as a percent) | 12.20% | 12.97% |
Common Equity Tier I Capital, Minimum for Capital Adequacy Purposes | $ 138,226 | $ 129,109 |
Common Equity Tier I Capital, Minimum for Capital Adequacy Purposes (as a percent) | 4.50% | 4.50% |
Common Equity Tier I Capital, Minimum for Be Well Capitalized | $ 199,659 | $ 186,491 |
Common Equity Tier I Capital, Minimum to Be Well Capitalized (as a percent) | 6.50% | 6.50% |
Tier I Capital (to Total Adjusted Assets) | ||
Tier 1 Capital (to Total Adjusted Assets) | $ 374,729 | $ 372,188 |
Tier 1 Capital (to Total Adjusted Assets) (as a percent) | 10.89% | 11.45% |
Tier 1 Capital (to Total Adjusted Assets), Minimum for Capital Adequacy Purposes | $ 137,649 | $ 130,032 |
Tier 1 Capital (to Total Adjusted Assets), Minimum for Capital Adequacy Purposes (as a percent) | 4.00% | 4.00% |
Tier 1 Capital (to Total Adjusted Assets), Minimum to Be Well Capitalized | $ 172,062 | $ 162,539 |
Tier 1 Capital (to Total Adjusted Assets), Minimum to Be Well Capitalized (as a percent) | 5.00% | 5.00% |
Tier I Capital (to Risk-weighted Assets) | ||
Tier 1 Capital (to Risk-weighted Assets) | $ 374,729 | $ 372,188 |
Tier 1 Capital (to Risk-weighted Assets) (as a percent) | 12.20% | 12.97% |
Tier 1 Capital (to Risk-weighted Assets), Minimum for Capital Adequacy Purposes | $ 184,301 | $ 172,145 |
Tier 1 Capital (to Risk-weighted Assets), Minimum for Capital Adequacy Purposes (as a percent) | 6.00% | 6.00% |
Tier 1 Capital (to Risk-weighted Assets), Minimum to Be Well Capitalized | $ 245,734 | $ 229,527 |
Tier I Capital (to Risk-weighted Assets), Minimum to Be Well Capitalized (as a percent) | 8.00% | 8.00% |
Total Risk-based Capital (to Risk-weighted Assets) | ||
Total Risk-based Capital (to Risk-weighted Assets) | $ 396,613 | $ 393,703 |
Total Risk-based Capital (to Risk-weighted Assets) (as a percent) | 12.91% | 13.72% |
Total Risk-based Capital (to Risk-weighted Assets), Minimum for Capital Adequacy Purposes | $ 245,734 | $ 229,527 |
Total Risk-based Capital (to Risk-weighted Assets), Minimum for Capital Adequacy Purposes (as a percent) | 8.00% | 8.00% |
Total Risk-based Capital (to Risk-weighted Assets), Minimum to Be Well Capitalized | $ 307,168 | $ 286,909 |
Total Risk-based Capital (to Risk-weighted Assets), Minimum to Be Well Capitalized (as a percent) | 10.00% | 10.00% |
Capital - Reconciliation of the
Capital - Reconciliation of the Bank's Total Equity Capital Under US GAAP and Regulatory Capital Amounts (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2016 |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||||
Total stockholders' equity under US GAAP | $ 408,896 | $ 409,242 | $ 397,647 | $ 359,976 |
Tier I Capital | 355,759 | 335,152 | ||
Total Risk-based Capital | 377,639 | 356,603 | ||
HomeTrust Bancshares, Inc. | ||||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ||||
Total stockholders' equity under US GAAP | 408,896 | 409,242 | ||
Accumulated other comprehensive loss (income), net of tax | (733) | 1,598 | ||
Investment in nonincludable subsidiary | (780) | (826) | ||
Disallowed deferred tax assets | (5,092) | (8,701) | ||
Disallowed goodwill and other disallowed intangible assets | (27,562) | (29,125) | ||
Tier I Capital | 374,729 | 372,188 | ||
Allowable portion of allowance for loan losses and loan commitments | 21,884 | 21,515 | ||
Total Risk-based Capital | $ 396,613 | $ 393,703 |
Parent Company Financial Info_3
Parent Company Financial Information - Condensed Balance Sheet (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Jun. 30, 2018 |
Assets | ||
Cash and equivalents | $ 40,909 | $ 45,222 |
Other securities | 45,378 | 41,931 |
Allowance for loan losses | (21,429) | (21,060) |
Net loans | 2,683,761 | 2,504,792 |
Other assets | 23,157 | 3,503 |
Total Assets | 3,476,178 | 3,304,169 |
Liabilities and Stockholders’ Equity | ||
Other liabilities | 58,145 | 61,760 |
Stockholders’ Equity | 408,896 | 409,242 |
Total Liabilities and Stockholders’ Equity | 3,476,178 | 3,304,169 |
Parent Company | ||
Assets | ||
Cash and equivalents | 8,481 | 23,042 |
Certificates of deposit in other banks | 746 | 994 |
Other securities | 0 | 63 |
Total loans | 1,243 | 3,840 |
Allowance for loan losses | (4) | (64) |
Net loans | 1,239 | 3,776 |
REO | 621 | 805 |
Investment in bank subsidiary | 389,926 | 372,206 |
ESOP loan receivable | 7,412 | 7,896 |
Other assets | 510 | 499 |
Total Assets | 408,935 | 409,281 |
Liabilities and Stockholders’ Equity | ||
Other liabilities | 39 | 39 |
Stockholders’ Equity | 408,896 | 409,242 |
Total Liabilities and Stockholders’ Equity | $ 408,935 | $ 409,281 |
Parent Company Financial Info_4
Parent Company Financial Information - Condensed Income Statement (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2017 | |
Income: | |||||||||||
Interest income | $ 35,855 | $ 34,724 | $ 34,400 | $ 32,280 | $ 30,693 | $ 29,265 | $ 28,848 | $ 27,896 | $ 137,259 | $ 117,402 | $ 99,436 |
Expense: | |||||||||||
Loss on sale and impairment of REO | 439 | 127 | 300 | ||||||||
Provision for (recovery of) loan losses | 200 | 5,500 | 0 | 0 | 0 | 0 | 0 | 0 | |||
Income Tax Expense | 2,107 | 185 | 2,287 | 2,212 | 2,011 | 2,707 | 19,508 | 2,510 | 6,791 | 26,736 | 5,192 |
Net Income | $ 8,013 | $ 3,302 | $ 8,041 | $ 7,790 | $ 7,207 | $ 6,127 | $ (10,666) | $ 5,567 | 27,146 | 8,235 | 11,847 |
Parent Company | |||||||||||
Income: | |||||||||||
Interest income | 329 | 456 | 565 | ||||||||
Other income | 54 | 44 | 1 | ||||||||
Equity earnings in Bank subsidiary | 27,287 | 8,427 | 12,003 | ||||||||
Total income | 27,670 | 8,927 | 12,569 | ||||||||
Expense: | |||||||||||
Management fee expense | 407 | 385 | 354 | ||||||||
REO expense | 11 | 34 | 62 | ||||||||
Loss on sale and impairment of REO | 114 | 158 | 39 | ||||||||
Provision for (recovery of) loan losses | (259) | (131) | 90 | ||||||||
Other expense | 251 | 246 | 177 | ||||||||
Total expense | 524 | 692 | 722 | ||||||||
Income Before Income Taxes | 27,146 | 8,235 | 11,847 | ||||||||
Income Tax Expense | 0 | 0 | 0 | ||||||||
Net Income | $ 27,146 | $ 8,235 | $ 11,847 |
Parent Company Financial Info_5
Parent Company Financial Information - Condensed Cash Flow Statement (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2017 | |
Operating Activities: | |||||||||||
Net Income | $ 8,013 | $ 3,302 | $ 8,041 | $ 7,790 | $ 7,207 | $ 6,127 | $ (10,666) | $ 5,567 | $ 27,146 | $ 8,235 | $ 11,847 |
Provision for (recovery of) loan losses | 200 | $ 5,500 | $ 0 | 0 | 0 | $ 0 | $ 0 | 0 | |||
Loss on sale and impairment of REO | 439 | 127 | 300 | ||||||||
ESOP compensation expense | 1,422 | 1,367 | 1,186 | ||||||||
Net cash provided by operating activities | 7,662 | 31,342 | 15,115 | ||||||||
Investing Activities: | |||||||||||
Maturities of certificates of deposit in other banks | 33,086 | 82,538 | 71,476 | ||||||||
Net cash used in investing activities | (150,489) | (134,017) | (106,756) | ||||||||
Financing Activities: | |||||||||||
Cash dividends paid | (3,176) | 0 | 0 | ||||||||
Retired stock | (205) | (494) | (569) | ||||||||
Stock options exercised | 1,173 | 651 | 3,068 | ||||||||
Net cash provided by financing activities | 143,124 | 86,436 | 126,030 | ||||||||
Net Increase (Decrease) in Cash and Cash Equivalents | 297 | (16,239) | 34,389 | ||||||||
Cash and Cash Equivalents at Beginning of Period | 70,746 | 86,985 | 70,746 | 86,985 | 52,596 | ||||||
Cash and Cash Equivalents at End of Period | 71,043 | 70,746 | 71,043 | 70,746 | 86,985 | ||||||
Parent Company | |||||||||||
Operating Activities: | |||||||||||
Net Income | 27,146 | 8,235 | 11,847 | ||||||||
Provision for (recovery of) loan losses | (259) | (131) | 90 | ||||||||
Loss on sale and impairment of REO | 114 | 158 | 39 | ||||||||
Decrease (increase) in accrued interest receivable and other assets | 52 | 291 | (30) | ||||||||
Equity in undistributed income of Bank | (27,287) | (8,427) | (12,003) | ||||||||
ESOP compensation expense | 1,422 | 1,367 | 1,186 | ||||||||
Restricted stock and stock option expense | 1,601 | 3,027 | 4,166 | ||||||||
Decrease in other liabilities | 0 | (48) | (260) | ||||||||
Net cash provided by operating activities | 2,789 | 4,472 | 5,035 | ||||||||
Investing Activities: | |||||||||||
Maturities of certificates of deposit in other banks | 248 | 6,217 | 1,245 | ||||||||
Repayment of loans | 2,796 | 1,514 | 2,176 | ||||||||
Increase in investment in Bank subsidiary | (1,556) | (1,367) | (3,408) | ||||||||
Dividend from subsidiary | 13,454 | 0 | 10,291 | ||||||||
ESOP principal payments received | 484 | 472 | 462 | ||||||||
Proceeds from sale of REO | 70 | 499 | 61 | ||||||||
Acquisition of TriSummit Bancorp, Inc. | 0 | 0 | (13,862) | ||||||||
Net cash used in investing activities | 15,496 | 7,335 | (3,035) | ||||||||
Financing Activities: | |||||||||||
Common stock repurchased | (30,638) | 0 | 0 | ||||||||
Cash dividends paid | (3,176) | 0 | 0 | ||||||||
Retired stock | (205) | (494) | (569) | ||||||||
Stock options exercised | 1,173 | 651 | 3,068 | ||||||||
Net cash provided by financing activities | (32,846) | 157 | 2,499 | ||||||||
Net Increase (Decrease) in Cash and Cash Equivalents | (14,561) | 11,964 | 4,499 | ||||||||
Cash and Cash Equivalents at Beginning of Period | $ 23,042 | $ 11,078 | 23,042 | 11,078 | 6,579 | ||||||
Cash and Cash Equivalents at End of Period | $ 8,481 | $ 23,042 | $ 8,481 | $ 23,042 | $ 11,078 |
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 | Jun. 30, 2019 | Jun. 30, 2018 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | $ 121,786 | $ 154,993 |
U.S. Government Agencies | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 15,210 | 47,542 |
Residential Mortgage-backed Securities of U.S. Government Agencies and Government-Sponsored Enterprises | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 75,180 | 70,599 |
Municipal Bonds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 25,312 | 30,766 |
Corporate Bonds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 6,084 | 6,023 |
Equity Securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 63 | |
Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 0 | 0 |
Level 1 | U.S. Government Agencies | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 0 | 0 |
Level 1 | Residential Mortgage-backed Securities of U.S. Government Agencies and Government-Sponsored Enterprises | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 0 | 0 |
Level 1 | Municipal Bonds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 0 | 0 |
Level 1 | Corporate Bonds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 0 | 0 |
Level 1 | Equity Securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 0 | |
Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 121,786 | 154,993 |
Level 2 | U.S. Government Agencies | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 15,210 | 47,542 |
Level 2 | Residential Mortgage-backed Securities of U.S. Government Agencies and Government-Sponsored Enterprises | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 75,180 | 70,599 |
Level 2 | Municipal Bonds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 25,312 | 30,766 |
Level 2 | Corporate Bonds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 6,084 | 6,023 |
Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 0 | 0 |
Level 3 | U.S. Government Agencies | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 0 | 0 |
Level 3 | Residential Mortgage-backed Securities of U.S. Government Agencies and Government-Sponsored Enterprises | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 0 | 0 |
Level 3 | Municipal Bonds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 0 | 0 |
Level 3 | Corporate Bonds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | $ 0 | 0 |
Level 3 | Equity Securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | $ 0 |
Fair Value of Financial Instr_4
Fair Value of Financial Instruments - Schedule of Fair Value Measurements, Nonrecurring (Details) - Nonrecurring Measurements - USD ($) $ in Thousands | Jun. 30, 2019 | Jun. 30, 2018 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | $ 10,875 | $ 10,527 |
Impaired loans | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 9,071 | 8,423 |
REO | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 1,804 | 2,104 |
Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 0 | 0 |
Level 1 | Impaired loans | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 0 | 0 |
Level 1 | REO | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 0 | 0 |
Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 0 | 0 |
Level 2 | Impaired loans | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 0 | 0 |
Level 2 | REO | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 0 | 0 |
Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 10,875 | 10,527 |
Level 3 | Impaired loans | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | 9,071 | 8,423 |
Level 3 | REO | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, fair value | $ 1,804 | $ 2,104 |
Fair Value of Financial Instr_5
Fair Value of Financial Instruments - Schedule of Quantitative Information About Level 3 Fair Value Measurements (Details) - Nonrecurring Measurements - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Assets, fair value | $ 10,875 | $ 10,527 |
Impaired loans, net | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Assets, fair value | $ 9,071 | |
Weighted Average | 1.00% | |
REO | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Assets, fair value | $ 1,804 | |
Weighted Average | 12.00% | |
Minimum | Impaired loans, net | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Weighted Average | 0.00% | |
Minimum | REO | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Weighted Average | 8.00% | |
Maximum | Impaired loans, net | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Weighted Average | 16.00% | |
Maximum | REO | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Weighted Average | 41.00% | |
Valuation Technique, Discounted Cash Flow | Minimum | Impaired loans, net | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Weighted Average | 1.00% | |
Valuation Technique, Discounted Cash Flow | Maximum | Impaired loans, net | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||
Weighted Average | 3.00% |
Fair Value of Financial Instr_6
Fair Value of Financial Instruments - Schedule of Fair Value, by Balance Sheet Grouping (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Jun. 30, 2018 |
Level 3 | Small Business Investment Company Funds [Member] [Domain] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Financial instruments | $ 6,074 | $ 4,717 |
Carrying Value | Cash and interest-bearing deposits | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Financial instruments | 71,043 | 70,746 |
Carrying Value | Commercial paper | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Financial instruments | 241,446 | 229,070 |
Carrying Value | Certificates of deposit in other banks | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Financial instruments | 52,005 | 66,937 |
Carrying Value | Securities available for sale | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Financial instruments | 121,786 | 154,993 |
Carrying Value | Loans, net | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Financial instruments | 2,683,761 | 2,504,792 |
Carrying Value | Loans held for sale | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Financial instruments | 18,175 | 5,873 |
Carrying Value | FHLB stock | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Financial instruments | 31,969 | 29,907 |
Carrying Value | FRB stock | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Financial instruments | 7,335 | 7,307 |
Carrying Value | Small Business Investment Company Funds [Member] [Domain] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Financial instruments | 6,074 | 4,717 |
Carrying Value | Accrued interest receivable | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Financial instruments | 10,533 | 9,344 |
Carrying Value | Noninterest-bearing and NOW deposits | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Financial instruments | 746,617 | 789,186 |
Carrying Value | Money market accounts | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Financial instruments | 691,172 | 677,665 |
Carrying Value | Savings accounts | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Financial instruments | 177,278 | 213,250 |
Carrying Value | Certificates of deposit | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Financial instruments | 712,190 | 516,152 |
Carrying Value | Borrowings | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Financial instruments | 680,000 | 635,000 |
Carrying Value | Accrued interest payable | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Financial instruments | 2,252 | 805 |
Estimate of Fair Value Measurement | Cash and interest-bearing deposits | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Financial instruments | 71,043 | 70,746 |
Estimate of Fair Value Measurement | Commercial paper | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Financial instruments | 241,446 | 229,070 |
Estimate of Fair Value Measurement | Certificates of deposit in other banks | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Financial instruments | 52,005 | 66,937 |
Estimate of Fair Value Measurement | Securities available for sale | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Financial instruments | 121,786 | 154,993 |
Estimate of Fair Value Measurement | Loans, net | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Financial instruments | 2,604,827 | 2,414,647 |
Estimate of Fair Value Measurement | Loans held for sale | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Financial instruments | 18,591 | 5,990 |
Estimate of Fair Value Measurement | FHLB stock | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Financial instruments | 31,969 | 29,907 |
Estimate of Fair Value Measurement | FRB stock | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Financial instruments | 7,335 | 7,307 |
Estimate of Fair Value Measurement | Small Business Investment Company Funds [Member] [Domain] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Financial instruments | 6,074 | 4,717 |
Estimate of Fair Value Measurement | Accrued interest receivable | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Financial instruments | 10,533 | 9,344 |
Estimate of Fair Value Measurement | Noninterest-bearing and NOW deposits | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Financial instruments | 746,617 | 789,186 |
Estimate of Fair Value Measurement | Money market accounts | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Financial instruments | 691,172 | 677,665 |
Estimate of Fair Value Measurement | Savings accounts | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Financial instruments | 177,278 | 213,250 |
Estimate of Fair Value Measurement | Certificates of deposit | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Financial instruments | 712,485 | 509,924 |
Estimate of Fair Value Measurement | Borrowings | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Financial instruments | 688,418 | 635,187 |
Estimate of Fair Value Measurement | Accrued interest payable | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Financial instruments | 2,252 | 805 |
Estimate of Fair Value Measurement | Level 1 | Cash and interest-bearing deposits | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Financial instruments | 71,043 | 70,746 |
Estimate of Fair Value Measurement | Level 1 | Commercial paper | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Financial instruments | 241,446 | 229,070 |
Estimate of Fair Value Measurement | Level 1 | FHLB stock | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Financial instruments | 31,969 | 29,907 |
Estimate of Fair Value Measurement | Level 1 | FRB stock | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Financial instruments | 7,335 | 7,307 |
Estimate of Fair Value Measurement | Level 1 | Accrued interest receivable | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Financial instruments | 350 | 297 |
Estimate of Fair Value Measurement | Level 2 | Certificates of deposit in other banks | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Financial instruments | 52,005 | 66,937 |
Estimate of Fair Value Measurement | Level 2 | Securities available for sale | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Financial instruments | 121,786 | 154,993 |
Estimate of Fair Value Measurement | Level 2 | Accrued interest receivable | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Financial instruments | 750 | 883 |
Estimate of Fair Value Measurement | Level 2 | Noninterest-bearing and NOW deposits | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Financial instruments | 746,617 | 789,186 |
Estimate of Fair Value Measurement | Level 2 | Money market accounts | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Financial instruments | 691,172 | 677,665 |
Estimate of Fair Value Measurement | Level 2 | Savings accounts | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Financial instruments | 177,278 | 213,250 |
Estimate of Fair Value Measurement | Level 2 | Certificates of deposit | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Financial instruments | 712,485 | 509,924 |
Estimate of Fair Value Measurement | Level 2 | Borrowings | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Financial instruments | 688,418 | 635,187 |
Estimate of Fair Value Measurement | Level 2 | Accrued interest payable | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Financial instruments | 2,252 | 805 |
Estimate of Fair Value Measurement | Level 3 | Loans, net | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Financial instruments | 2,604,827 | 2,414,647 |
Estimate of Fair Value Measurement | Level 3 | Loans held for sale | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Financial instruments | 18,591 | 5,990 |
Estimate of Fair Value Measurement | Level 3 | Accrued interest receivable | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Financial instruments | $ 9,433 | $ 8,164 |
Fair Value of Financial Instr_7
Fair Value of Financial Instruments - Narrative (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Jun. 30, 2018 |
Fair Value Disclosures [Abstract] | ||
Off-balance sheet financial commitments | $ 628,572 | $ 751,324 |
Revenue (Details)
Revenue (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2017 | |
Disaggregation of Revenue [Line Items] | |||||||||||
Offset of interchange costs against interchange income | $ 660 | $ 667 | |||||||||
Noninterest income (in-scope of ASC 606) | $ 11,130 | 10,159 | 8,999 | ||||||||
Noninterest income (out-of-scope of ASC 606) | 11,765 | 8,813 | 7,108 | ||||||||
Total noninterest income | $ 6,811 | $ 5,386 | $ 5,085 | $ 5,613 | $ 5,382 | $ 4,926 | $ 4,787 | $ 4,577 | 22,895 | 18,972 | 16,107 |
Service Charges on Deposit Accounts | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Noninterest income (in-scope of ASC 606) | 3,978 | 3,674 | 3,309 | ||||||||
Fees, Interchange, and Other Service Charges | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Noninterest income (in-scope of ASC 606) | 6,377 | 5,576 | 4,747 | ||||||||
Other Revenues | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Noninterest income (in-scope of ASC 606) | $ 775 | $ 909 | $ 943 |
Unaudited Interim Financial I_3
Unaudited Interim Financial Information - Schedule of Quarterly Financial Information (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2017 | |
Quarterly Financial Information Disclosure [Abstract] | |||||||||||
Interest and dividend income | $ 35,855 | $ 34,724 | $ 34,400 | $ 32,280 | $ 30,693 | $ 29,265 | $ 28,848 | $ 27,896 | $ 137,259 | $ 117,402 | $ 99,436 |
Interest expense | 8,931 | 8,145 | 7,299 | 6,008 | 5,103 | 4,036 | 3,618 | 3,315 | 30,383 | 16,072 | 8,245 |
Net Interest Income | 26,924 | 26,579 | 27,101 | 26,272 | 25,590 | 25,229 | 25,230 | 24,581 | 106,876 | 101,330 | 91,191 |
Provision for loan losses | 200 | 5,500 | 0 | 0 | 0 | 0 | 0 | 0 | |||
Net interest income after provision for loan losses | 26,724 | 21,079 | 27,101 | 26,272 | 25,590 | 25,229 | 25,230 | 24,581 | |||
Noninterest income | 6,811 | 5,386 | 5,085 | 5,613 | 5,382 | 4,926 | 4,787 | 4,577 | 22,895 | 18,972 | 16,107 |
Noninterest expense | 23,415 | 22,978 | 21,858 | 21,883 | 21,754 | 21,321 | 21,175 | 21,081 | 90,134 | 85,331 | 90,259 |
Net income before provision for income taxes | 10,120 | 3,487 | 10,328 | 10,002 | 9,218 | 8,834 | 8,842 | 8,077 | |||
Income tax expense | 2,107 | 185 | 2,287 | 2,212 | 2,011 | 2,707 | 19,508 | 2,510 | 6,791 | 26,736 | 5,192 |
Net Income | $ 8,013 | $ 3,302 | $ 8,041 | $ 7,790 | $ 7,207 | $ 6,127 | $ (10,666) | $ 5,567 | $ 27,146 | $ 8,235 | $ 11,847 |
Basic net income per common share (in dollars per share) | $ 0.45 | $ 0.19 | $ 0.45 | $ 0.43 | $ 0.40 | $ 0.34 | $ (0.59) | $ 0.31 | |||
Diluted net income per common share (in dollars per share) | $ 0.44 | $ 0.18 | $ 0.43 | $ 0.41 | $ 0.38 | $ 0.32 | $ (0.59) | $ 0.30 |
Subsequent Events - Narrative (
Subsequent Events - Narrative (Details) - USD ($) $ in Thousands | 2 Months Ended | 12 Months Ended | ||
Sep. 13, 2019 | Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2017 | |
Subsequent Event [Line Items] | ||||
Transfers of loans to held for sale from loans held for investment | $ 5,794 | $ 0 | $ 0 | |
Minimum | One-to-four family | Retail Consumer Loans | Subsequent Event | ||||
Subsequent Event [Line Items] | ||||
Transfers of loans to held for sale from loans held for investment | $ 200,000 | |||
Maximum | One-to-four family | Retail Consumer Loans | Subsequent Event | ||||
Subsequent Event [Line Items] | ||||
Transfers of loans to held for sale from loans held for investment | $ 300,000 |