Loans | 9 Months Ended |
Jun. 30, 2014 |
Loans and Leases Receivable Disclosure [Abstract] | ' |
Loans | ' |
Loans |
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A summary of the balances of loans follows: |
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| June 30, | | September 30, | | | | | | | | | | | | | | | | | | | | | |
2014 | 2013 | | | | | | | | | | | | | | | | | | | | | |
Real estate: | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | |
Single family | $ | 133,456 | | | $ | 132,496 | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | |
Multifamily | 71,751 | | | 47,178 | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | |
Commercial real estate | 119,429 | | | 112,237 | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | |
Construction and land development | 16,035 | | | 10,629 | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | |
Total real estate | 340,671 | | | 302,540 | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | |
Commercial business | 24,703 | | | 25,003 | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | |
Consumer: | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | |
Home equity lines of credit | 14,222 | | | 13,652 | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | |
Education | 4,769 | | | 5,189 | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | |
Other | 687 | | | 798 | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | |
Total consumer | 19,678 | | | 19,639 | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | |
Total loans | 385,052 | | | 347,182 | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | |
Less: | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | |
Net deferred loan fees | 218 | | | 136 | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | |
Allowance for loan losses | 4,039 | | | 4,266 | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | |
Net loans | $ | 380,795 | | | $ | 342,780 | | | | | | | | | | | | | | | | | | | | | | |
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The following tables present the contractual aging of the recorded investment in past due loans by class of loans as of June 30, 2014 and September 30, 2013: |
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June 30, 2014 | | Current | | 30-59 Days | | 60-89 Days | | Loans Past | | Total | | | | | | | | |
Past Due | Past Due | Due 90 Days | | | | | | | | |
| | or More | | | | | | | | |
Single family | | $ | 130,913 | | | $ | 918 | | | $ | 404 | | | $ | 1,221 | | | $ | 133,456 | | | | | | | | | |
| | | | | | | |
Multifamily | | 71,751 | | | — | | | — | | | — | | | 71,751 | | | | | | | | | |
| | | | | | | |
Commercial real estate | | 119,095 | | | 138 | | | — | | | 196 | | | 119,429 | | | | | | | | | |
| | | | | | | |
Construction and land development | | 16,029 | | | — | | | — | | | 6 | | | 16,035 | | | | | | | | | |
| | | | | | | |
Commercial business | | 24,681 | | | — | | | — | | | 22 | | | 24,703 | | | | | | | | | |
| | | | | | | |
Consumer and other: | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | |
Home equity lines of credit | | 13,999 | | | 74 | | | — | | | 149 | | | 14,222 | | | | | | | | | |
| | | | | | | |
Education | | 4,646 | | | 38 | | | 2 | | | 83 | | | 4,769 | | | | | | | | | |
| | | | | | | |
Other | | 687 | | | — | | | — | | | — | | | 687 | | | | | | | | | |
| | | | | | | |
| | $ | 381,801 | | | $ | 1,168 | | | $ | 406 | | | $ | 1,677 | | | $ | 385,052 | | | | | | | | | |
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September 30, 2013 | | Current | | 30-59 Days | | 60-89 Days | | Loans Past | | Total | | | | | | | | |
Past Due | Past Due | Due 90 Days | | | | | | | | |
| | or More | | | | | | | | |
Single family | | $ | 127,631 | | | $ | 406 | | | $ | 1,571 | | | $ | 2,888 | | | $ | 132,496 | | | | | | | | | |
| | | | | | | |
Multifamily | | 47,178 | | | — | | | — | | | — | | | 47,178 | | | | | | | | | |
| | | | | | | |
Commercial real estate | | 105,683 | | | — | | | 5,485 | | | 1,069 | | | 112,237 | | | | | | | | | |
| | | | | | | |
Construction and land development | | 10,437 | | | — | | | — | | | 192 | | | 10,629 | | | | | | | | | |
| | | | | | | |
Commercial business | | 24,976 | | | 27 | | | — | | | — | | | 25,003 | | | | | | | | | |
| | | | | | | |
Consumer and other: | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | |
Home equity lines of credit | | 13,180 | | | 116 | | | 90 | | | 266 | | | 13,652 | | | | | | | | | |
| | | | | | | |
Education | | 4,991 | | | 64 | | | 26 | | | 108 | | | 5,189 | | | | | | | | | |
| | | | | | | |
Other | | 791 | | | 2 | | | 1 | | | 4 | | | 798 | | | | | | | | | |
| | | | | | | |
| | $ | 334,867 | | | $ | 615 | | | $ | 7,173 | | | $ | 4,527 | | | $ | 347,182 | | | | | | | | | |
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There were no loans past due ninety days or more still accruing interest as of June 30, 2014 and September 30, 2013. |
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The following table presents the recorded investment in nonaccrual loans by class of loans as of June 30, 2014 and September 30, 2013: |
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| June 30, | | September 30, | | | | | | | | | | | | | | | | | | | | | |
2014 | 2013 | | | | | | | | | | | | | | | | | | | | | |
Single family | $ | 1,369 | | | $ | 4,207 | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | |
Multifamily | — | | | 2,638 | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | |
Commercial real estate | 353 | | | 1,283 | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | |
Construction and land development | 6 | | | 192 | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | |
Commercial business | 22 | | | — | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | |
Consumer and other: | | | | | | | | | | | | | | | | | | | | | | | | |
Home equity lines of credit | 166 | | | 285 | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | |
Education | 83 | | | 134 | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | |
Other | — | | | 4 | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | |
| $ | 1,999 | | | $ | 8,743 | | | | | | | | | | | | | | | | | | | | | | |
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As part of the on-going monitoring of the credit quality of the Company’s loan portfolio, management categorizes loans into risk categories based on relevant information about the ability of the borrowers to service their debt and comply with various terms of their loan agreements. The Company considers current financial information, historical payment experience, credit documentation, public information and current economic trends. Generally, all sizeable credits receive a financial review no less than annually to monitor and adjust, if necessary, the credit’s risk profile. Credits classified as watch and special mention generally receive a review more frequently than annually. |
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The Company categorizes loans into the following risk categories based on relevant information about the ability of borrowers to service their debt: |
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Pass — A pass asset is well protected by the current worth and paying capacity of the obligor (or guarantors, if any) or by the fair value, less costs to acquire and sell in a timely manner, of any underlying collateral. |
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Watch — A watch asset has potential weaknesses that deserve management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the asset or in the Company’s credit position at some future date. Watch assets are not adversely classified and do not expose the Company to sufficient risk to warrant adverse classification. |
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Special Mention — A special mention asset has characteristics of deterioration in quality exhibited by any number of well-defined weaknesses requiring significant corrective action. The repayment ability of the borrower has not been validated, or has become marginal or weak and the loan may have exhibited some overdue payments or payment extensions and/or renewals. |
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Substandard — A substandard asset is an asset with a well-defined weakness that jeopardizes repayment in whole or in part, of the debt. These credits are inadequately protected by the current sound worth and paying capacity of the obligor or of the collateral pledged. These assets are characterized by the distinct possibility that the Company will or has sustained some loss of principal and/or interest if the deficiencies are not corrected. |
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Doubtful — A doubtful asset is an asset that has all the weaknesses inherent in the substandard classification with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions and values, highly questionable and improbable. These credits have a high probability for loss, yet because certain important and reasonably specific pending factors may work toward the strengthening of the asset, its classification of loss is deferred until its more exact status can be determined. |
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Homogeneous loan types are assessed for credit quality based on the contractual aging status of the loan and payment activity. In certain cases, based upon payment performance, the loan being related with another commercial type loan or for other reasons, a loan may be categorized into one of the risk categories noted above, unless such loan carries private mortgage insurance (PMI). Such assessment is completed at the end of each reporting period. |
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The following tables present the risk category of loans evaluated by internal asset classification based on the most recent analysis performed and the contractual aging as of June 30, 2014 and September 30, 2013: |
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June 30, 2014 | | Pass | | Watch | | Special Mention | | Substandard | | Doubtful | | Total | | | | |
Single family | | $ | 130,272 | | | $ | 646 | | | $ | 119 | | | $ | 2,419 | | | $ | — | | | $ | 133,456 | | | | | |
| | | |
Multifamily | | 68,568 | | | — | | | 448 | | | 2,735 | | | — | | | 71,751 | | | | | |
| | | |
Commercial real estate | | 110,457 | | | 5,939 | | | 1,193 | | | 1,840 | | | — | | | 119,429 | | | | | |
| | | |
Construction and land development | | 16,029 | | | — | | | — | | | 6 | | | — | | | 16,035 | | | | | |
| | | |
Commercial business | | 20,930 | | | 3,589 | | | 73 | | | 111 | | | — | | | 24,703 | | | | | |
| | | |
Consumer and other: | | | | | | | | | | | | | | | | | | | | | | |
| | | |
Home equity lines of credit | | 13,997 | | | — | | | — | | | 225 | | | — | | | 14,222 | | | | | |
| | | |
Education | | 4,769 | | | — | | | — | | | — | | | — | | | 4,769 | | | | | |
| | | |
Other | | 685 | | | — | | | — | | | 2 | | | — | | | 687 | | | | | |
| | | |
Total | | $ | 365,707 | | | $ | 10,174 | | | $ | 1,833 | | | $ | 7,338 | | | $ | — | | | $ | 385,052 | | | | | |
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September 30, 2013 | | Pass | | Watch | | Special Mention | | Substandard | | Doubtful | | Total | | | | |
Single family | | $ | 127,395 | | | $ | 454 | | | $ | 121 | | | $ | 4,526 | | | $ | — | | | $ | 132,496 | | | | | |
| | | |
Multifamily | | 41,700 | | | 2,667 | | | — | | | 2,811 | | | — | | | 47,178 | | | | | |
| | | |
Commercial real estate | | 93,953 | | | 13,713 | | | 2,549 | | | 2,022 | | | — | | | 112,237 | | | | | |
| | | |
Construction and land development | | 10,438 | | | — | | | — | | | 191 | | | — | | | 10,629 | | | | | |
| | | |
Commercial business | | 21,930 | | | 2,140 | | | 928 | | | 5 | | | — | | | 25,003 | | | | | |
| | | |
Consumer and other: | | | | | | | | | | | | | | | | | | | | | | |
| | | |
Home equity lines of credit | | 13,306 | | | — | | | — | | | 346 | | | — | | | 13,652 | | | | | |
| | | |
Education | | 5,189 | | | — | | | — | | | — | | | — | | | 5,189 | | | | | |
| | | |
Other | | 794 | | | — | | | — | | | 4 | | | — | | | 798 | | | | | |
| | | |
| | $ | 314,705 | | | $ | 18,974 | | | $ | 3,598 | | | $ | 9,905 | | | $ | — | | | $ | 347,182 | | | | | |
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The following tables provide additional detail of the activity in the allowance for loan losses, by portfolio segment, for the three months ended June 30, 2014 and 2013: |
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| | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Three Months Ended | | Single Family | | Multifamily | | Commercial | | Construction and | | Commercial | | Consumer | | Total |
30-Jun-14 | Real Estate | Land Development | Business | and Other |
Allowance for loan losses: | | | | | | | | | | | | | | | | | | | | | |
|
Beginning balance | | $ | 1,413 | | | $ | 107 | | | $ | 1,747 | | | $ | 252 | | | $ | 279 | | | $ | 100 | | | $ | 3,898 | |
|
Provision for loan losses | | 59 | | | 690 | | | (451 | ) | | 32 | | | 8 | | | (338 | ) | | — | |
|
Loans charged-off | | (237 | ) | | — | | | — | | | — | | | — | | | (6 | ) | | (243 | ) |
|
Recoveries | | 26 | | | — | | | 4 | | | 10 | | | 9 | | | 335 | | | 384 | |
|
Ending balance | | $ | 1,261 | | | $ | 797 | | | $ | 1,300 | | | $ | 294 | | | $ | 296 | | | $ | 91 | | | $ | 4,039 | |
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Period-ended amount allocated for: | | | | | | | | | | | | | | | | | | | | | |
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Individually evaluated for impairment | | $ | 113 | | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | 59 | | | $ | 172 | |
|
Collectively evaluated for impairment | | 1,148 | | | 797 | | | 1,300 | | | 294 | | | 296 | | | 32 | | | 3,867 | |
|
Ending Balance | | $ | 1,261 | | | $ | 797 | | | $ | 1,300 | | | $ | 294 | | | $ | 296 | | | $ | 91 | | | $ | 4,039 | |
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Loans: | | | | | | | | | | | | | | | | | | | | | |
|
Individually evaluated for impairment | | $ | 1,821 | | | $ | 2,572 | | | $ | 469 | | | $ | — | | | $ | — | | | $ | 127 | | | $ | 4,989 | |
|
Collectively evaluated for impairment | | 131,635 | | | 69,179 | | | 118,960 | | | 16,035 | | | 24,703 | | | 19,551 | | | 380,063 | |
|
Ending Balance | | $ | 133,456 | | | $ | 71,751 | | | $ | 119,429 | | | $ | 16,035 | | | $ | 24,703 | | | $ | 19,678 | | | $ | 385,052 | |
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| | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Three Months Ended | | Single Family | | Multifamily | | Commercial | | Construction and | | Commercial | | Consumer | | Total |
30-Jun-13 | Real Estate | Land Development | Business | and Other |
Allowance for loan losses: | | | | | | | | | | | | | | | | | | | | | |
|
Beginning balance | | $ | 1,834 | | | $ | 501 | | | $ | 1,894 | | | $ | 490 | | | $ | 601 | | | $ | 60 | | | $ | 5,380 | |
|
Provision for loan losses | | 408 | | | (172 | ) | | 546 | | | (284 | ) | | (323 | ) | | (25 | ) | | 150 | |
|
Loans charged-off | | (425 | ) | | — | | | (595 | ) | | — | | | — | | | — | | | (1,020 | ) |
|
Recoveries | | 37 | | | 1 | | | 1 | | | — | | | 5 | | | 9 | | | 53 | |
|
Ending balance | | $ | 1,854 | | | $ | 330 | | | $ | 1,846 | | | $ | 206 | | | $ | 283 | | | $ | 44 | | | $ | 4,563 | |
|
Period-ended amount allocated for: | | | | | | | | | | | | | | | | | | | | | |
|
Individually evaluated for impairment | | $ | 316 | | | $ | — | | | $ | 17 | | | $ | — | | | $ | — | | | $ | — | | | $ | 333 | |
|
Collectively evaluated for impairment | | 1,538 | | | 330 | | | 1,829 | | | 206 | | | 283 | | | 44 | | | 4,230 | |
|
Ending Balance | | $ | 1,854 | | | $ | 330 | | | $ | 1,846 | | | $ | 206 | | | $ | 283 | | | $ | 44 | | | $ | 4,563 | |
|
Loans: | | | | | | | | | | | | | | | | | | | | | |
|
Individually evaluated for impairment | | $ | 3,204 | | | $ | 2,659 | | | $ | 1,288 | | | $ | 192 | | | $ | — | | | $ | 145 | | | $ | 7,488 | |
|
Collectively evaluated for impairment | | 132,169 | | | 43,029 | | | 108,941 | | | 8,599 | | | 21,869 | | | 21,040 | | | $ | 335,647 | |
|
Ending Balance | | $ | 135,373 | | | $ | 45,688 | | | $ | 110,229 | | | $ | 8,791 | | | $ | 21,869 | | | $ | 21,185 | | | $ | 343,135 | |
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The following tables provide additional detail of the activity in the allowance for loan losses, by portfolio segment, for the nine months ended June 30, 2014 and 2013: |
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| | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Nine Months Ended | | Single Family | | Multifamily | | Commercial | | Construction and | | Commercial | | Consumer | | Total |
30-Jun-14 | Real Estate | Land Development | Business | and Other |
Allowance for loan losses: | | | | | | | | | | | | | | | | | | | | | |
|
Beginning balance | | $ | 1,873 | | | $ | 165 | | | $ | 1,501 | | | $ | 374 | | | $ | 211 | | | $ | 142 | | | $ | 4,266 | |
|
Provision for loan losses | | (58 | ) | | 628 | | | 15 | | | (90 | ) | | 210 | | | (355 | ) | | 350 | |
|
Loans charged-off | | (679 | ) | | — | | | (232 | ) | | — | | | (159 | ) | | (34 | ) | | (1,104 | ) |
|
Recoveries | | 125 | | | 4 | | | 16 | | | 10 | | | 34 | | | 338 | | | 527 | |
|
Ending balance | | $ | 1,261 | | | $ | 797 | | | $ | 1,300 | | | $ | 294 | | | $ | 296 | | | $ | 91 | | | $ | 4,039 | |
|
Period-ended amount allocated for: | | | | | | | | | | | | | | | | | | | | | |
|
Individually evaluated for impairment | | $ | 113 | | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | 59 | | | $ | 172 | |
|
Collectively evaluated for impairment | | 1,148 | | | 797 | | | 1,300 | | | 294 | | | 296 | | | 32 | | | 3,867 | |
|
Ending Balance | | $ | 1,261 | | | $ | 797 | | | $ | 1,300 | | | $ | 294 | | | $ | 296 | | | $ | 91 | | | $ | 4,039 | |
|
Loans: | | | | | | | | | | | | | | | | | | | | | |
|
Individually evaluated for impairment | | $ | 1,821 | | | $ | 2,572 | | | $ | 469 | | | $ | — | | | $ | — | | | $ | 127 | | | $ | 4,989 | |
|
Collectively evaluated for impairment | | 131,635 | | | 69,179 | | | 118,960 | | | 16,035 | | | 24,703 | | | 19,551 | | | 380,063 | |
|
Ending Balance | | $ | 133,456 | | | $ | 71,751 | | | $ | 119,429 | | | $ | 16,035 | | | $ | 24,703 | | | $ | 19,678 | | | $ | 385,052 | |
|
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| | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Nine Months Ended | | Single Family | | Multifamily | | Commercial | | Construction and | | Commercial | | Consumer | | Total |
30-Jun-13 | Real Estate | Land Development | Business | and Other |
Allowance for loan losses: | | | | | | | | | | | | | | | | | | | | | |
|
Beginning balance | | $ | 1,390 | | | $ | 712 | | | $ | 3,249 | | | $ | 293 | | | $ | 810 | | | $ | 236 | | | $ | 6,690 | |
|
Provision for loan losses | | 2,030 | | | (383 | ) | | 172 | | | 111 | | | (454 | ) | | (176 | ) | | 1,300 | |
|
Loans charged-off | | (1,603 | ) | | — | | | (1,593 | ) | | (198 | ) | | (99 | ) | | (28 | ) | | (3,521 | ) |
|
Recoveries | | 37 | | | 1 | | | 18 | | | — | | | 26 | | | 12 | | | 94 | |
|
Ending balance | | $ | 1,854 | | | $ | 330 | | | $ | 1,846 | | | $ | 206 | | | $ | 283 | | | $ | 44 | | | $ | 4,563 | |
|
Period-ended amount allocated for: | | | | | | | | | | | | | | | | | | | | | |
|
Individually evaluated for impairment | | $ | 316 | | | $ | — | | | $ | 17 | | | $ | — | | | $ | — | | | $ | — | | | $ | 333 | |
|
Collectively evaluated for impairment | | 1,538 | | | 330 | | | 1,829 | | | 206 | | | 283 | | | 44 | | | 4,230 | |
|
Ending Balance | | $ | 1,854 | | | $ | 330 | | | $ | 1,846 | | | $ | 206 | | | $ | 283 | | | $ | 44 | | | $ | 4,563 | |
|
Loans: | | | | | | | | | | | | | | | | | | | | | |
|
Individually evaluated for impairment | | $ | 3,204 | | | $ | 2,659 | | | $ | 1,288 | | | $ | 192 | | | $ | — | | | $ | 145 | | | $ | 7,488 | |
|
Collectively evaluated for impairment | | 132,169 | | | 43,029 | | | 108,941 | | | 8,599 | | | 21,869 | | | 21,040 | | | $ | 335,647 | |
|
Ending Balance | | $ | 135,373 | | | $ | 45,688 | | | $ | 110,229 | | | $ | 8,791 | | | $ | 21,869 | | | $ | 21,185 | | | $ | 343,135 | |
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The following tables present additional detail of impaired loans, segregated by segment, as of and for the three and nine month periods ended June 30, 2014 and 2013. The unpaid principal balance represents the recorded balance prior to any partial charge-offs. The recorded investment represents customer balances net of any partial charge-offs recognized on the loans. The interest income recognized column represents all interest income reported on either a cash or accrual basis after the loan became impaired. |
|
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | Three months ended | | Nine months ended |
30-Jun-14 | | Unpaid | | Recorded | | Allowance for | | Average | | Interest | | Average | | Interest |
Principal | Investment | Loan Losses | Recorded | Income | Recorded | Income |
Balance | | Allocated | Investment | Recognized | Investment | Recognized |
With no related allowance recorded: | | | | | | | | | | | | | | | | | | | | | |
|
Single family | | $ | 1,685 | | | $ | 1,136 | | | $ | — | | | $ | 1,735 | | | $ | 5 | | | $ | 1,867 | | | $ | 17 | |
|
Multifamily | | 2,871 | | | 2,572 | | | — | | | 2,792 | | | 28 | | | 3,422 | | | 85 | |
|
Commercial real estate | | 502 | | | 469 | | | — | | | 1,266 | | | 8 | | | 1,520 | | | 25 | |
|
Construction and land development | | — | | | — | | | — | | | — | | | — | | | — | | | — | |
|
Commercial business | | — | | | — | | | — | | | — | | | — | | | — | | | — | |
|
Consumer and other | | 175 | | | 68 | | | — | | | 93 | | | — | | | 112 | | | — | |
|
With an allowance recorded: | | | | | | | | | | | | | | | | | | | | | |
|
Single family | | 1,017 | | | 685 | | | 113 | | | 547 | | | 1 | | | 554 | | | 1 | |
|
Multifamily | | — | | | — | | | — | | | — | | | — | | | 85 | | | — | |
|
Commercial real estate | | — | | | — | | | — | | | — | | | — | | | 95 | | | — | |
|
Construction and land development | | — | | | — | | | — | | | — | | | — | | | 48 | | | — | |
|
Commercial business | | — | | | — | | | — | | | — | | | — | | | — | | | — | |
|
Consumer and other | | 59 | | | 59 | | | 59 | | | 60 | | | 1 | | | 60 | | | 2 | |
|
| | $ | 6,309 | | | $ | 4,989 | | | $ | 172 | | | $ | 6,493 | | | $ | 43 | | | $ | 7,763 | | | $ | 130 | |
|
|
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | Three months ended | | Nine months ended |
June 30, 2013 | | Unpaid | | Recorded | | Allowance for | | Average | | Interest | | Average | | Interest |
Principal | Investment | Loan Losses | Recorded | Income | Recorded | Income |
Balance | | Allocated | Investment | Recognized | Investment | Recognized |
With no related allowance recorded: | | | | | | | | | | | | | | | | | | | | | |
|
Single family | | $ | 2,764 | | | $ | 2,068 | | | $ | — | | | $ | 2,595 | | | $ | 8 | | | $ | 2,337 | | | $ | 22 | |
|
Multifamily | | 3,013 | | | 2,659 | | | — | | | 2,216 | | | — | | | 3,469 | | | — | |
|
Commercial real estate | | 1,107 | | | 1,105 | | | — | | | 1,706 | | | — | | | 3,180 | | | — | |
|
Construction and land development | | 192 | | | 192 | | | — | | | 193 | | | 2 | | | 320 | | | 7 | |
|
Commercial business | | — | | | — | | | — | | | — | | | — | | | — | | | — | |
|
Consumer and other | | 223 | | | 145 | | | — | | | 128 | | | — | | | 107 | | | — | |
|
With an allowance recorded: | | | | | | | | | | | | | | | | | | | | | |
|
Single family | | 1,204 | | | 1,136 | | | 316 | | | 818 | | | 6 | | | 1,171 | | | 18 | |
|
Multifamily | | — | | | — | | | — | | | 454 | | | — | | | 468 | | | — | |
|
Commercial real estate | | 186 | | | 183 | | | 17 | | | 1,258 | | | 3 | | | 1,732 | | | 9 | |
|
Construction and land development | | — | | | — | | | — | | | 209 | | | — | | | 54 | | | — | |
|
Commercial business | | — | | | — | | | — | | | — | | | — | | | 15 | | | — | |
|
Consumer and other | | — | | | — | | | — | | | — | | | — | | | — | | | — | |
|
| | $ | 8,689 | | | $ | 7,488 | | | $ | 333 | | | $ | 9,577 | | | $ | 19 | | | $ | 12,853 | | | $ | 56 | |
|
|
|
The following is a summary of troubled debt restructured loans (TDRs) at June 30, 2014 and September 30, 2013: |
|
| | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| June 30, 2014 | | September 30, | | | | | | | | | | | | | | | | | | | | | |
2013 | | | | | | | | | | | | | | | | | | | | | |
Troubled debt restructurings - accrual | $ | 3,535 | | | $ | 3,166 | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | |
Troubled debt restructurings - nonaccrual | 365 | | | 5,385 | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | |
| $ | 3,900 | | | $ | 8,551 | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | |
|
Modifications of loan terms in a TDR are generally in the form of an extension of payment terms or lowering of the interest rate, although occasionally the Company has reduced the outstanding principal balance. |
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The following tables presents information related to loans modified in a TDR, by class, during the three months ended June 30, 2014 and 2013: |
|
| | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Three Months Ended June 30, 2014 | | | | | | | | | | | | | | |
| | | Unpaid | | Balance in the ALLL | | | | | | | | | | | | | | |
Principal | | | | | | | | | | | | | | |
Balance | | | | | | | | | | | | | | |
| Number of | | (at End of Period) | | Prior to | | At Period End | | | | | | | | | | | | | | |
Modifications | | Modification | | | | | | | | | | | | | | |
Single family | 1 | | | $ | 320 | | | $ | — | | | $ | 40 | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | |
Multifamily | — | | | — | | | — | | | — | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | |
Commercial real estate | — | | | — | | | — | | | — | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | |
Construction and land development | — | | | — | | | — | | | — | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | |
Commercial business | — | | | — | | | — | | | — | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | |
Consumer and other: | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | |
Home equity lines of credit | — | | | — | | | — | | | — | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | |
Education | — | | | — | | | — | | | — | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | |
Other | — | | | — | | | — | | | — | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| 1 | | | $ | 320 | | | $ | — | | | $ | 40 | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | |
|
| | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Three Months Ended June 30, 2013 | | | | | | | | | | | | | | |
| | | Unpaid | | Balance in the ALLL | | | | | | | | | | | | | | |
Principal | | | | | | | | | | | | | | |
Balance | | | | | | | | | | | | | | |
| Number of | | (at End of Period) | | Prior to | | At Period End | | | | | | | | | | | | | | |
Modifications | | Modification | | | | | | | | | | | | | | |
Single family | — | | | $ | — | | | $ | — | | | $ | — | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | |
Multifamily | 3 | | | 2,659 | | | — | | | — | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | |
Commercial real estate | — | | | — | | | — | | | — | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | |
Construction and land development | — | | | — | | | — | | | — | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | |
Commercial business | — | | | — | | | — | | | — | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | |
Consumer and other: | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | |
Home equity lines of credit | — | | | — | | | — | | | — | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | |
Education | — | | | — | | | — | | | — | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | |
Other | — | | | — | | | — | | | — | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| 3 | | | $ | 2,659 | | | $ | — | | | $ | — | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | |
|
The following tables presents information related to loans modified in a TDR, by class, during the nine months ended June 30, 2014 and 2013: |
|
| | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Nine Months Ended June 30, 2014 | | | | | | | | | | | | | | |
| | | Unpaid | | Balance in the ALLL | | | | | | | | | | | | | | |
Principal | | | | | | | | | | | | | | |
Balance | | | | | | | | | | | | | | |
| Number of | | (at End of Period) | | Prior to | | At Period End | | | | | | | | | | | | | | |
Modifications | | Modification | | | | | | | | | | | | | | |
Single family | 2 | | | $ | 407 | | | $ | — | | | $ | 40 | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | |
Multifamily | — | | | — | | | — | | | — | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | |
Commercial real estate | — | | | — | | | — | | | — | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | |
Construction and land development | — | | | — | | | — | | | — | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | |
Commercial business | — | | | — | | | — | | | — | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | |
Consumer and other: | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | |
Home equity lines of credit | — | | | — | | | — | | | — | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | |
Education | — | | | — | | | — | | | — | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | |
Other | — | | | — | | | — | | | — | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| 2 | | | $ | 407 | | | $ | — | | | $ | 40 | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | |
|
| | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Nine Months Ended June 30, 2013 | | | | | | | | | | | | | | |
| | | Unpaid | | Balance in the ALLL | | | | | | | | | | | | | | |
Principal | | | | | | | | | | | | | | |
Balance | | | | | | | | | | | | | | |
| Number of | | (at End of Period) | | Prior to | | At Period End | | | | | | | | | | | | | | |
Modifications | | Modification | | | | | | | | | | | | | | |
Single family | 1 | | | $ | 122 | | | $ | — | | | $ | — | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | |
Multifamily | 4 | | | 3,081 | | | — | | | — | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | |
Commercial real estate | 3 | | | 794 | | | — | | | — | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | |
Construction and land development | — | | | — | | | — | | | — | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | |
Commercial business | — | | | — | | | — | | | — | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | |
Consumer and other: | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | |
Home equity lines of credit | — | | | — | | | — | | | — | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | |
Education | — | | | — | | | — | | | — | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | |
Other | — | | | — | | | — | | | — | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | |
| 8 | | | $ | 3,997 | | | $ | — | | | $ | — | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | |
|
The following table presents a summary of loans modified in a TDR during the three months ended June 30, 2014 and 2013 by class and by type of modification: |
|
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | Principal and | | Interest Rate Reduction | | Adjusted | | Reduced | | | | |
Interest to | Amortization | Principal |
Three Months Ended | | Interest Only | | To Below | | To Interest | | Period | | Balance | | Other (1) | | Total |
30-Jun-14 | | Market Rate | Only | | |
Single family | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | 320 | | | $ | — | | | $ | 320 | |
|
Multifamily | | — | | | — | | | — | | | — | | | — | | | | | | — | |
|
Commercial real estate | | — | | | — | | | — | | | — | | | — | | | — | | | — | |
|
Construction and land development | | — | | | — | | | — | | | — | | | — | | | — | | | — | |
|
Commercial business | | — | | | — | | | — | | | — | | | — | | | — | | | — | |
|
Consumer and other: | | | | | | | | | | | | | | | | | 0 | | | 0 | |
|
Home equity lines of credit | | — | | | — | | | — | | | — | | | — | | | — | | | — | |
|
Education | | — | | | — | | | — | | | — | | | — | | | — | | | — | |
|
Other | | — | | | — | | | — | | | — | | | — | | | — | | | — | |
|
| | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | 320 | | | $ | — | | | $ | 320 | |
|
|
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | Principal and | | Interest Rate Reduction | | Adjusted | | Reduced | | | | |
Interest to | Amortization | Principal |
Three Months Ended | | Interest Only | | To Below | | To Interest | | Period | | Balance | | Other (1) | | Total |
30-Jun-13 | | Market Rate | Only | | |
Single family | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | — | |
|
Multifamily | | — | | | — | | | 2,659 | | | — | | | — | | | — | | | 2,659 | |
|
Commercial real estate | | — | | | — | | | — | | | — | | | — | | | — | | | — | |
|
Construction and land development | | — | | | — | | | — | | | — | | | — | | | — | | | — | |
|
Commercial business | | — | | | — | | | — | | | — | | | — | | | — | | | — | |
|
Consumer and other: | | | | | | | | | | | | | | | | | | | | — | |
|
Home equity lines of credit | | — | | | — | | | — | | | — | | | — | | | — | | | — | |
|
Education | | — | | | — | | | — | | | — | | | — | | | — | | | — | |
|
Other | | — | | | — | | | — | | | — | | | — | | | — | | | — | |
|
| | $ | — | | | $ | — | | | $ | 2,659 | | | $ | — | | | $ | — | | | $ | — | | | $ | 2,659 | |
|
|
___________________________________________________________ |
(1) Other modifications primarily include capitalization of property taxes. |
|
The following table presents a summary of loans modified in a TDR during the nine months ended June 30, 2014 and 2013 by class and by type of modification: |
|
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | Principal and | | Interest Rate Reduction | | Adjusted | | Reduced | | | | |
Interest to | Amortization | Principal |
Nine Months Ended | | Interest Only | | To Below | | To Interest | | Period | | Balance | | Other (1) | | Total |
30-Jun-14 | | Market Rate | Only | | |
Single family | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | 320 | | | $ | 87 | | | $ | 407 | |
|
Multifamily | | — | | | — | | | — | | | — | | | — | | | | | | — | |
|
Commercial real estate | | — | | | — | | | — | | | — | | | — | | | — | | | — | |
|
Construction and land development | | — | | | — | | | — | | | — | | | — | | | — | | | — | |
|
Commercial business | | — | | | — | | | — | | | — | | | — | | | — | | | — | |
|
Consumer and other: | | | | | | | | | | | | | | | | | 0 | | | 0 | |
|
Home equity lines of credit | | — | | | — | | | — | | | — | | | — | | | — | | | — | |
|
Education | | — | | | — | | | — | | | — | | | — | | | — | | | — | |
|
Other | | — | | | — | | | — | | | — | | | — | | | — | | | — | |
|
| | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | 320 | | | $ | 87 | | | $ | 407 | |
|
|
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | Principal and | | Interest Rate Reduction | | Adjusted | | Reduced | | | | |
Interest to | Amortization | Principal |
NIne Months Ended | | Interest Only | | To Below | | To Interest | | Period | | Balance | | Other (1) | | Total |
30-Jun-13 | | Market Rate | Only | | |
Single family | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | — | | | $ | 122 | | | $ | 122 | |
|
Multifamily | | — | | | — | | | 2,659 | | | 422 | | | — | | | — | | | 3,081 | |
|
Commercial real estate | | 184 | | | — | | | — | | | 161 | | | — | | | 449 | | | 794 | |
|
Construction and land development | | — | | | — | | | — | | | — | | | — | | | — | | | — | |
|
Commercial business | | — | | | — | | | — | | | — | | | — | | | — | | | — | |
|
Consumer and other: | | | | | | | | | | | | | | | | | | | | |
|
Home equity lines of credit | | — | | | — | | | — | | | — | | | — | | | — | | | — | |
|
Education | | — | | | — | | | — | | | — | | | — | | | — | | | — | |
|
Other | | — | | | — | | | — | | | — | | | — | | | — | | | — | |
|
| | $ | 184 | | | $ | — | | | $ | 2,659 | | | $ | 583 | | | $ | — | | | $ | 571 | | | $ | 3,997 | |
|
|
___________________________________________________________ |
(1) Other modifications primarily include capitalization of property taxes. |
|
|
There were no re-defaults of TDR that occurred during the three months or nine months ended June 30, 2014 and 2013. |
|
Certain of the Bank’s officers, employees, directors, and their associates are loan customers of the Bank. As of June 30, 2014 and September 30, 2013, loans of approximately $5,200 and $5,563, respectively, were outstanding to such parties. These loans were made on substantially the same terms as those prevailing for comparable transactions with other persons and do not involve more than the normal risk of collectability. |