Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Dec. 31, 2016 | Feb. 13, 2017 | |
Document Information [Line Items] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Dec. 31, 2016 | |
Document Fiscal Year Focus | 2,017 | |
Document Fiscal Period Focus | Q2 | |
Entity Registrant Name | MW Bancorp, Inc. | |
Entity Central Index Key | 1,600,065 | |
Current Fiscal Year End Date | --06-30 | |
Entity Filer Category | Smaller Reporting Company | |
Trading Symbol | MWBC | |
Entity Common Stock, Shares Outstanding | 891,209 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2016 | Jun. 30, 2016 |
Assets | ||
Cash and due from banks | $ 364 | $ 258 |
Interest-bearing demand deposits | 9,092 | 3,414 |
Cash and cash equivalents | 9,456 | 3,672 |
Interest-bearing time deposits in other financial institutions | 100 | 2,100 |
Available-for-sale securities | 3,525 | 3,465 |
Held-to-maturity securities (fair value of $351 at December 31, 2016 and $996 at June 30, 2016) | 349 | 986 |
Loans held for sale | 79 | 1,763 |
Loans, net of allowance for loan losses of $1,636 at December 31, 2016 and $1,635 at June 30, 2016 | 107,235 | 99,946 |
Premises and equipment, net | 1,781 | 1,158 |
Federal Home Loan Bank stock, at cost | 1,192 | 1,192 |
Accrued interest receivable | 365 | 292 |
Bank owned life insurance | 3,516 | 3,469 |
Deferred federal income taxes | 673 | 713 |
Other assets | 250 | 251 |
Total assets | 128,521 | 119,007 |
Deposits | ||
Demand and money market | 33,819 | 27,736 |
Savings | 16,768 | 9,274 |
Time | 34,501 | 40,204 |
Total deposits | 85,088 | 77,214 |
Federal Home Loan Bank advances | 26,286 | 25,319 |
Other liabilities | 897 | 350 |
Total liabilities | 112,271 | 102,883 |
Commitments and Contigent Liabilities | ||
Shareholders' Equity | ||
Preferred stock - authorized 1,000,000 shares, $0.01 par value, none issued | 0 | 0 |
Common stock - authorized 30,000,000 shares, $0.01 par value, 905,473 and 904,973 shares issued at December 31, 2016 and June 30, 2016, respectively | 9 | 9 |
Additional paid-in capital | 7,881 | 7,835 |
Shares acquired by ESOP | (627) | (666) |
Unearned compensation - restricted stock awards | (437) | (429) |
Retained earnings | 9,864 | 9,756 |
Accumulated other comprehensive loss | (138) | (79) |
Treasury stock, 20,000 shares - at cost | (302) | (302) |
Total shareholders' equity | 16,250 | 16,124 |
Total liabilities and shareholders' equity | $ 128,521 | $ 119,007 |
Condensed Consolidated Balance3
Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Dec. 31, 2016 | Jun. 30, 2016 |
Held-to-maturity Securities, Fair Value | $ 351 | $ 996 |
Loans and Leases Receivable, Allowance | $ 1,636 | $ 1,635 |
Preferred Stock, Par or Stated Value Per Share | $ 0.01 | $ 0.01 |
Preferred Stock, Shares Authorized | 1,000,000 | 1,000,000 |
Preferred Stock, Shares Issued | 0 | 0 |
Common Stock, Par or Stated Value Per Share | $ 0.01 | $ 0.01 |
Common Stock, Shares Authorized | 30,000,000 | 30,000,000 |
Common Stock, Shares, Issued | 905,473 | 904,973 |
Treasury Stock, Shares | 20,000 | 20,000 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Income - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | |
Interest Income | ||||
Loans, including fees | $ 1,053 | $ 937 | $ 2,071 | $ 1,842 |
Taxable securities | 15 | 24 | 31 | 51 |
Interest-bearing deposits | 28 | 32 | 59 | 64 |
Total interest income | 1,096 | 993 | 2,161 | 1,957 |
Interest Expense | ||||
Deposits | 195 | 222 | 390 | 430 |
Federal Home Loan Bank advances | 88 | 85 | 176 | 166 |
Total interest expense | 283 | 307 | 566 | 596 |
Net Interest Income | 813 | 686 | 1,595 | 1,361 |
Provision for Loan Losses | 0 | 8 | 0 | 13 |
Net Interest Income After Provision for Loan Losses | 813 | 678 | 1,595 | 1,348 |
Noninterest Income | ||||
Gain on sale of loans | 103 | 7 | 227 | 52 |
Income from Bank owned life insurance | 24 | 23 | 47 | 46 |
Other operating | 1 | 14 | 11 | 24 |
Total noninterest income | 128 | 44 | 285 | 122 |
Noninterest Expense | ||||
Salaries, employee benefits and directors fees | 486 | 401 | 933 | 784 |
Occupancy and equipment | 67 | 51 | 133 | 89 |
Data processing | 58 | 33 | 119 | 66 |
Franchise taxes | 32 | 13 | 63 | 32 |
FDIC insurance premiums | 1 | 18 | 21 | 35 |
Professional services | 63 | 81 | 159 | 193 |
Advertising | 12 | 12 | 27 | 34 |
Office supplies | 14 | 15 | 27 | 26 |
Business entertainment | 11 | 9 | 26 | 22 |
Other | 69 | 66 | 142 | 119 |
Total noninterest expense | 813 | 699 | 1,650 | 1,400 |
Income Before Federal Income Taxes | 128 | 23 | 230 | 70 |
Federal Income Taxes | 4 | 0 | 33 | 0 |
Net Income | $ 124 | $ 23 | $ 197 | $ 70 |
Earnings per share | ||||
Basic | $ 0.15 | $ 0.03 | $ 0.24 | $ 0.09 |
Diluted | $ 0.15 | $ 0.03 | $ 0.24 | $ 0.09 |
Weighted-average shares outstanding | ||||
Basic | 818,927 | 806,108 | 818,405 | 806,089 |
Diluted | 827,667 | 806,108 | 825,772 | 806,089 |
Condensed Consolidated Stateme5
Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | |
Net income | $ 124 | $ 23 | $ 197 | $ 70 |
Other comprehensive loss: | ||||
Net unrealized holding losses on securities available for sale | (53) | (11) | (64) | (19) |
Amortization of net unrealized holding loss on held-to-maturity securities | 4 | 0 | 5 | 0 |
Net unrealized losses | (49) | (11) | (59) | (19) |
Tax effect | 0 | 0 | 0 | 0 |
Total other comprehensive loss | (49) | (11) | (59) | (19) |
Comprehensive income | $ 75 | $ 12 | $ 138 | $ 51 |
Condensed Consolidated Stateme6
Condensed Consolidated Statements of Shareholders' Equity - USD ($) $ in Thousands | Total | Common Stock [Member] | Additional Paid-in Capital [Member] | Shares Acquired by ESOP [Member] | Unearned Compensation - Restricted Stock Awards [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Loss [Member] | Treasury Stock [Member] |
Balance at Jun. 30, 2015 | $ 15,670 | $ 9 | $ 7,386 | $ (701) | $ 0 | $ 9,067 | $ (91) | $ 0 |
Net income | 70 | 0 | 0 | 0 | 0 | 70 | 0 | 0 |
Amortization of ESOP | 49 | 0 | 14 | 35 | 0 | 0 | 0 | 0 |
Other comprehensive loss | (19) | 0 | 0 | 0 | 0 | 0 | (19) | 0 |
Balance at Dec. 31, 2015 | 15,770 | 9 | 7,400 | (666) | 0 | 9,137 | (110) | 0 |
Balance at Jun. 30, 2016 | 16,124 | 9 | 7,835 | (666) | (429) | 9,756 | (79) | (302) |
Net income | 197 | 0 | 0 | 0 | 0 | 197 | 0 | 0 |
Compensation expense related to stock options | 24 | 0 | 24 | 0 | 0 | 0 | 0 | 0 |
Issuance of restricted stock awards | 0 | 0 | 8 | 0 | (8) | 0 | 0 | 0 |
Dividends paid, $0.10 per share | (89) | 0 | 0 | 0 | 0 | (89) | 0 | 0 |
Amortization of ESOP | 53 | 0 | 14 | 39 | 0 | 0 | 0 | 0 |
Other comprehensive loss | (59) | 0 | 0 | 0 | 0 | 0 | (59) | 0 |
Balance at Dec. 31, 2016 | $ 16,250 | $ 9 | $ 7,881 | $ (627) | $ (437) | $ 9,864 | $ (138) | $ (302) |
Condensed Consolidated Stateme7
Condensed Consolidated Statements of Shareholders' Equity (Parenthetical) | 6 Months Ended |
Dec. 31, 2016$ / shares | |
Common Stock, Dividends, Per Share, Cash Paid | $ 0.10 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 6 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Cash Flows from Operating Activities | ||
Net income | $ 197 | $ 70 |
Adjustments to reconcile net income to net cash from operating activities | ||
Depreciation and amortization | 65 | 52 |
Amortization of premiums and discounts on securities, net | 30 | 31 |
Accretion of deferred loan origination fees and costs, net | 19 | 1 |
Provision for loan losses | 0 | 13 |
Gain on sale of loans | (227) | (52) |
Proceeds from sales of loans | 12,037 | 2,264 |
Loans originated for sale | (10,186) | (2,579) |
Compensation expense related to stock options | 24 | 0 |
Amortization of ESOP | 60 | 49 |
Net changes in: | ||
Accrued interest receivable | (73) | (39) |
Other assets | 61 | 55 |
Cash surrender value of life insurance | (47) | (46) |
Other liabilities | 547 | 367 |
Deferred federal income taxes | 33 | 0 |
Net cash provided by operating activities | 2,540 | 186 |
Cash Flows from Investing Activities | ||
Net change in interest-bearing deposits in other financial institutions | 2,000 | 1,000 |
Purchase of available for sale securities | (617) | 0 |
Principal repayments of held-to-maturity securities | 640 | 274 |
Principal repayments of available-for-sale mortgage-backed securities | 465 | 401 |
Net change in loans | (7,308) | (8,384) |
Purchase of premises and equipment | (688) | (794) |
Payments for improvements to foreclosed assets | 0 | (8) |
Net cash used in investing activities | (5,508) | (7,511) |
Cash Flows from Financing Activities | ||
Net change in deposits | 7,776 | 11,208 |
Proceeds from Federal Home Loan Bank advances | 13,000 | 2,000 |
Repayment of Federal Home Loan Bank advances | (12,033) | (1,275) |
Dividends paid | (89) | 0 |
Net cash provided by financing activities | 8,654 | 11,933 |
Net Change in Cash and Cash Equivalents | 5,686 | 4,608 |
Beginning Cash and Cash Equivalents | 3,672 | 3,665 |
Ending Cash and Cash Equivalents | 9,456 | 8,273 |
Cash paid during the period for: | ||
Interest on deposits and borrowings | 563 | 590 |
Supplemental Disclosure of Noncash Investing Activities | ||
Transfers from loans to loans held for sale | $ 0 | $ 5,058 |
Basis of Presentation
Basis of Presentation | 6 Months Ended |
Dec. 31, 2016 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Presentation | Note 1: Basis of Presentation MW Bancorp, Inc. (the “Company,” “we,” “us” or “our”), headquartered in Cincinnati, Ohio, was formed to serve as the stock holding company for Watch Hill Bank (the “Bank”) following its mutual-to-stock conversion. The conversion was completed effective January 29, 2015. The Company issued 876,163 shares at an offering price of $10.00 per share. The accompanying unaudited condensed balance sheet of the Company as of June 30, 2016, which has been derived from audited financial statements, and unaudited condensed consolidated financial statements of the Company as of December 31, 2016 and for the three and six months ended December 31, 2016 and 2015, were prepared in accordance with the instructions for Form 10-Q and Article 10 of Regulation S-X and, therefore, do not include information or footnotes necessary for a complete presentation of financial position, results of operations and cash flows in conformity with accounting principles generally accepted in the United States of America. Accordingly, these condensed financial statements should be read in conjunction with the audited financial statements and notes thereto of the Company as of and for the year ended June 30, 2016 included in the Company’s most recent Form 10-K. Reference is made to the accounting policies of the Company described in the Notes to the Financial Statements contained in the Form 10-K. In the opinion of management, all adjustments (consisting only of normal recurring adjustments) which are necessary for a fair presentation of the unaudited financial statements have been included to present fairly the financial position as of December 31, 2016 and the results of operations and cash flows for the three and six months ended December 31, 2016 and 2015. All interim amounts have not been audited and the results of operations for the three and six months ended December 31, 2016, herein are not necessarily indicative of the results of operations to be expected for the entire fiscal year. Principles of Consolidation The consolidated financial statements as of and for the periods ended December 31, 2016, include MW Bancorp, Inc. and its wholly owned subsidiary, Watch Hill Bank, together referred to as “the Company.” Intercompany transactions and balances have been eliminated in consolidation. Use of Estimates The preparation of financial statements in conformity with U.S. generally accepted accounting principles 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 dates of the financial statements and the reported amounts of revenues and expenses during the reported periods. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change relate to the determination of the allowance for loan losses, valuation of real estate acquired in connection with foreclosures or in satisfaction of loans, valuation of deferred tax assets and fair values of financial instruments. |
Securities
Securities | 6 Months Ended |
Dec. 31, 2016 | |
Investments, Debt and Equity Securities [Abstract] | |
Securities | Note 2: Securities Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (In thousands) Available-for-sale Securities: December 31, 2016 Municipal bonds $ 100 $ - $ (4) $ 96 Mortgage-backed securities of U.S. government sponsored entities - residential 3,469 3 (43) 3,429 $ 3,569 $ 3 $ (47) $ 3,525 June 30, 2016 Mortgage-backed securities of U.S. government sponsored entities - residential $ 3,445 $ 36 $ (16) $ 3,465 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (In thousands) Held-to-maturity Securities: December 31, 2016 Mortgage-backed securities of U.S. government sponsored entities - residential $ 349 $ 4 $ (2) $ 351 June 30, 2016 Mortgage-backed securities of U.S. government sponsored entities - residential $ 986 $ 11 $ (1) $ 996 December 31, 2016 Available-for-sale Held-to-maturity Amortized Fair Amortized Fair Cost Value Cost Value (In thousands) Municipal bonds Due in three-to-five years $ 100 $ 96 $ - $ - Mortgage-backed securities of U.S. government sponsored entities - residential - not due at a single maturity date 3,469 3,429 349 351 $ 3,569 $ 3,525 $ 349 $ 351 The Company had no sales of investment securities during the three- and six-month periods ended December 31, 2016 and 2015. The Company had pledged $ 1.2 1.4 At December 31, 2016 and June 30, 2016, there were no holdings of securities of any one issuer, other than the U.S. Government and its agencies, in an amount greater than 10% of the Company’s equity. On August 1, 2013, the Company reclassified its collateralized mortgage obligation portfolio to held-to-maturity from available-for sale because management intends to hold these securities to maturity. The securities had a total amortized cost of $ 2.925 2.894 31,000 7,000 : Less than 12 Months 12 Months or Longer Total Fair Unrealized Fair Unrealized Fair Unrealized Description of Securities Value Losses Value Losses Value Losses (In thousands) December 31, 2016 Available-for-sale Securities: Municipal bonds $ 96 $ (4) $ - $ - $ 96 $ (4) Mortgage-backed securities of U.S. government sponsored entities - residential 2,201 (28) 685 (15) 2,886 (43) Held-to-maturity Securities: Mortgage-backed securities of U.S. government sponsored entities - residential 175 (2) - - 175 (2) $ 2,472 $ (34) $ 685 $ (15) $ 3,157 $ (49) June 30, 2016 Available-for-sale Securities: Mortgage-backed securities of U.S. government sponsored entities - residential $ 740 $ (9) $ 486 $ (7) $ 1,226 $ (16) Held-to-maturity Securities: Mortgage-backed securities of U.S. government sponsored entities - residential - - 256 (1) 256 (1) $ 740 $ (9) $ 742 $ (8) $ 1,482 $ (17) Other-than-temporary Impairment At December 31, 2016 and June 30, 2016, all of the mortgage-backed securities held by the Company were issued by U.S. government-sponsored entities and agencies, primarily Fannie Mae and Ginnie Mae - institutions which the government has affirmed its commitment to support. Because the decline in fair value is attributable to changes in interest rates and not credit quality, and because the Company does not have the intent, and it is likely that it will not be required, to sell these mortgage-backed securities before their anticipated recovery, the Company did not consider these securities to be other-than-temporarily impaired at December 31, 2016 and June 30, 2016. |
Loans and Allowance for Loan Lo
Loans and Allowance for Loan Losses | 6 Months Ended |
Dec. 31, 2016 | |
Receivables [Abstract] | |
Loans and Allowance for Loan Losses | Note 3: Loans and Allowance for Loan Losses December 31, June 30, 2016 2016 (In thousands) Real estate loans One- to four-family residential $ 67,297 $ 65,294 Multi-family residential 8,385 9,076 Commercial 23,745 17,486 Construction 6,023 6,720 Commercial 3,117 2,397 Consumer and other 232 548 Total loans 108,799 101,521 Less: Net deferred loan costs (72) (60) Allowance for loan losses 1,636 1,635 Net loans $ 107,235 $ 99,946 December 31, 2016 1-4 Family 1-4 Family Owner Non-Owner Multi- Occupied Occupied family Commercial Construction Consumer Total (In thousands) Three Months Ended December 31, 2016 Allowance for loan losses: Balance, October 1, 2016 $ 1,019 $ 226 $ 36 $ 225 $ 126 - $ 1,632 Provision for loan losses (41) 15 6 43 (22) (1) - Charge-offs - - - - - - - Recoveries 3 - - - - 1 4 Balance, December 31, 2016 $ 981 $ 241 $ 42 $ 268 $ 104 $ - $ 1,636 Six Months Ended December 31, 2016 Allowance for loan losses: Balance, July 1, 2016 $ 1,004 $ 282 $ 66 $ 167 $ 116 $ - $ 1,635 Provision for loan losses (26) (41) (24) 101 (12) 2 - Charge-offs - - - - - (4) (4) Recoveries 3 - - - - 2 5 Balance, December 31, 2016 $ 981 $ 241 $ 42 $ 268 $ 104 $ - $ 1,636 Allowance for loan losses: Ending balance, individually evaluated for impairment $ 44 $ 33 $ 22 $ - $ - $ - $ 99 Ending balance, collectively evaluated for impairment $ 937 $ 208 $ 20 $ 268 $ 104 $ - $ 1,537 Loans: Ending balance $ 54,923 $ 12,374 $ 8,385 $ 26,862 $ 6,023 $ 232 $ 108,799 Ending balance; individually evaluated for impairment $ 841 $ 348 $ 107 $ 141 $ - $ - $ 1,437 Ending balance; collectively evaluated for impairment $ 54,082 $ 12,026 $ 8,278 $ 26,721 $ 6,023 $ 232 $ 107,362 The following table presents, by portfolio segment, the activity in the allowance for loan losses for the three and six months ended December 31, 2015: 1-4 Family 1-4 Family Owner Non-Owner Multi- Occupied Occupied family Commercial Construction Consumer Total (In thousands) Three Months Ended December 31, 2015 Allowance for loan losses: Balance, October 1, 2015 $ 1,159 $ 258 $ 2 $ 127 $ 64 - $ 1,610 Provision for loan losses 5 21 (1) (11) (4) (2) 8 Charge-offs - - - - - - - Recoveries - - - - - 2 2 Balance, December 31, 2015 $ 1,164 $ 279 $ 1 $ 116 $ 60 $ - $ 1,620 Six Months Ended December 31, 2015 Allowance for loan losses: Balance, July 1, 2015 $ 1,130 $ 287 $ 3 $ 124 $ 58 $ - $ 1,602 Provision for loan losses 32 (8) (2) (8) 2 (3) 13 Charge-offs - - - - - - - Recoveries 2 - - - - 3 5 Balance, December 31, 2015 $ 1,164 $ 279 $ 1 $ 116 $ 60 $ - $ 1,620 The following table presents, by portfolio segment, the allowance for loan losses, the recorded investment in loans and impairment method as of June 30, 2016: 1-4 Family 1-4 Family Owner Non-Owner Multi- Occupied Occupied family Commercial Construction Consumer Total (In thousands) June 30, 2016 Allowance for loan losses: Ending balance, individually evaluated for impairment $ 89 $ 72 $ 27 $ - $ - $ - $ 188 Ending balance, collectively evaluated for impairment $ 915 $ 210 $ 39 $ 167 $ 116 $ - $ 1,447 Loans: Ending balance $ 53,060 $ 12,234 $ 9,076 $ 19,883 $ 6,720 $ 548 $ 101,521 Ending balance; individually evaluated for impairment $ 1,047 $ 530 $ 111 $ 145 $ - $ - $ 1,833 Ending balance; collectively evaluated for impairment $ 52,013 $ 11,704 $ 8,965 $ 19,738 $ 6,720 $ 548 $ 99,688 Internal Risk Categories The Company has adopted a standard loan grading system for all loans. Loans are selected for a grading review based on certain characteristics, including credit concentrations, subprime criteria and delinquency of 90 days or more. The categories are as follows: Pass : These are higher quality loans that do not fit any of the other categories described below. Special Mention : The loans identified as special mention have an obvious flaw or a potential weakness that deserves special management attention, but which has not yet impacted collectibility. These flaws or weaknesses, if left uncorrected, may result in the deterioration of the prospects of repayment or of the Company’s credit position. Substandard : These are loans with a well-defined weakness, where the Company has a serious concern about the borrower’s ability to make full repayment if the weaknesses are not corrected. The loan may contain a flaw, which could impact the borrower’s ability to repay, or the borrower’s continuance as a “going concern.” When collateral values are not sufficient to secure the loan and other weaknesses are present, the loan may be rated substandard. A loan will also be rated substandard when full repayment is expected, but it must come from the liquidation of collateral. Doubtful : These are loans with major defined weaknesses, where future charge-off of a part of the credit is highly likely. The primary repayment source is no longer viable and the viability of the secondary source of repayment is in doubt. The amount of loss is uncertain due to circumstances within the credit that are not yet fully developed and the loan is rated “Doubtful” until the loss can be accurately estimated. Loss : These are near term charge-offs. Loans classified as loss are considered uncollectible and of such little value that it is not appropriate to continue carrying them as assets on the Company’s financial statements, even though partial recovery may be possible at some future time. December 31, 2016 1-4 Family 1-4 Family Owner Non-Owner Multi- Occupied Occupied family Commercial Construction Consumer Total (In thousands) Pass $ 54,281 $ 11,992 $ 8,278 $ 26,765 $ 6,023 $ 232 $ 107,571 Special mention - - - - - - - Substandard 642 382 107 97 - - 1,228 Doubtful - - - - - - - Total $ 54,923 $ 12,374 $ 8,385 $ 26,862 $ 6,023 $ 232 $ 108,799 June 30, 2016 1-4 Family 1-4 Family Owner Non-Owner Multi- Occupied Occupied family Commercial Construction Consumer Total (In thousands) Pass $ 52,224 $ 11,558 $ 9,076 $ 19,883 $ 6,720 $ 548 $ 100,009 Special mention - - - - - - - Substandard 836 676 - - - - 1,512 Doubtful - - - - - - - Total $ 53,060 $ 12,234 $ 9,076 $ 19,883 $ 6,720 $ 548 $ 101,521 The Company has a portfolio of loans designated as subprime, defined as those loans made to borrowers with a credit score below 660. These loans are primarily secured by one-to four-family real estate, including both owner-occupied and non-owner-occupied properties. Subprime loans totaled $ 7.6 6.5 The Company evaluates the loan risk grading system categories and allowance for loan losses methodology on an ongoing basis. No significant changes were made to either during the past year. December 31, 2016 Total Loans > 30-59 Days 60-89 Days Greater Than Total Total Loans 90 Days & Past Due Past Due 90 Days Past Due Current Receivable Accruing (In thousands) 1-4 family owner-occupied $ 91 $ 118 $ - $ 209 $ 54,714 $ 54,923 $ - 1-4 family non-owner occupied 36 - - 36 12,338 12,374 - Multi-family residential - - - - 8,385 8,385 - Commercial 1,056 - - 1,056 25,806 26,862 - Construction - - - - 6,023 6,023 - Consumer and other - - - - 232 232 - Total $ 1,183 $ 118 $ - $ 1,301 $ 107,498 $ 108,799 $ - June 30, 2016 Total Loans > 30-59 Days 60-89 Days Greater Than Total Total Loans 90 Days & Past Due Past Due 90 Days Past Due Current Receivable Accruing (In thousands) 1-4 family owner-occupied $ 136 $ 86 $ - $ 222 $ 52,838 $ 53,060 $ - 1-4 family non-owner occupied 379 - - 379 11,855 12,234 - Multi-family residential - - - - 9,076 9,076 - Commercial - - - - 19,883 19,883 - Construction - - - - 6,720 6,720 - Consumer and other - - - - 548 548 - Total $ 515 $ 86 $ - $ 601 $ 100,920 $ 101,521 $ - A loan is considered impaired when based on current information and events, it is probable the Company will be unable to collect all amounts due from the borrower in accordance with the contractual terms of the loan. Impaired loans include nonperforming real estate and commercial loans, but also include loans modified in troubled debt restructurings. For the Three Months Ended For the Six Months Ended As of December 31, 2016 December 31, 2016 December 31, 2016 Allowance Unpaid for Loan Average Interest Average Interest Recorded Principal Losses Recorded Income Recorded Income Investment Balance Allocated Investment Recognized Investment Recognized (In thousands) Loans with no related allowance recorded: Real estate 1-4 family owner-occupied $ 571 $ 757 $ - $ 575 $ 4 582 $ 10 1-4 family non-owner occupied 112 147 - 113 - 115 - Multi-family residential - - - - - - - Commercial 141 156 - 142 3 143 5 Construction - - - - - - - Consumer and other - - - - - - - Loans with an allowance recorded: Real estate 1-4 family owner-occupied 270 337 44 272 - 277 - 1-4 family non-owner occupied 236 279 33 238 - 241 - Multi-family residential 107 110 22 107 - 109 - Commercial - - - - - - - Construction - - - - - - - Consumer and other - - - - - - - Totals $ 1,437 $ 1,786 $ 99 $ 1,447 $ 7 $ 1,467 $ 15 The following table presents impaired loan information as of June 30, 2016 and for the three and six months ended December 31, 2015: For the Three Months Ended For the Six Months Ended As of June 30, 2016 December 31, 2015 December 31, 2015 Allowance Unpaid for Loan Average Interest Average Interest Recorded Principal Losses Recorded Income Recorded Income Investment Balance Allocated Investment Recognized Investment Recognized (In thousands) Loans with no related allowance recorded: 1-4 family owner-occupied $ 682 $ 881 $ - $ 773 $ 6 $ 805 $ 12 1-4 family non-owner occupied 182 213 - 126 - 128 - Multi-family residential - - - - - - - Commercial 145 160 - 150 2 150 5 Construction - - - - - - - Consumer and other - - - - - - - Loans with an allowance recorded: 1-4 family owner-occupied 365 451 89 376 - 380 - 1-4 family non-owner occupied 348 385 72 152 - 154 - Multi-family residential 111 111 27 - - - - Commercial - - - - - - - Construction - - - - - - - Consumer and other - - - - - - - Totals $ 1,833 $ 2,201 $ 188 $ 1,577 $ 8 $ 1,617 $ 17 The recorded investment in loans excludes accrued interest receivable and loan origination fees, net, due to immateriality. December 31, June 30, 2016 2016 (In thousands) Real estate 1-4 family owner-occupied $ 453 $ 568 1-4 family non-owner occupied 348 530 Multi-family residential 107 111 Commercial - - Construction - - Consumer and other - - Total nonaccrual $ 908 $ 1,209 At December 31, 2016 and June 30, 2016, the Company had certain loans that were modified in troubled debt restructurings and impaired. The modification of terms of such loans included one or a combination of the following: an extension of maturity, a reduction of the stated interest rate or a permanent reduction of the recorded investment in the loan. The Company had loans modified in a troubled debt restructuring totaling $ 1.3 42,000 No loans were modified as troubled debt restructurings during the three and six months ended December 31, 2016 or 2015. The Company had no troubled debt restructurings modified during the twelve months ended December 31, 2016 or 2015 that subsequently defaulted during the six-month periods ended December 31, 2016 or 2015. A troubled debt restructured loan is considered to be in payment default once it is 30 days contractually past due under the loan’s modified terms. In order to determine whether a borrower is experiencing financial difficulty, an evaluation is performed of the probability that the borrower will be in payment default on any of its debt in the foreseeable future without the modification. This evaluation is performed under the Company’s internal underwriting policy. |
Regulatory Matters
Regulatory Matters | 6 Months Ended |
Dec. 31, 2016 | |
Banking and Thrift [Abstract] | |
Regulatory Matters | Note 4: Regulatory Matters The Bank is subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory - and possibly additional discretionary - actions by 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. Furthermore, the Bank’s regulators could require adjustments to regulatory capital not reflected in these financial statements. Effective January 1, 2015, the Bank is subject to the capital requirements set forth by the Basel Committee on Banking Supervision and certain provisions of the Dodd-Frank Act. Among other things, the rule established a new common equity Tier 1 minimum capital requirement and assigned a higher risk weight ( 150 2.5 Quantitative measures established by regulation to ensure capital adequacy require the Bank to maintain minimum amounts and ratios (set forth in the table below) of Total capital, Tier I capital and Common Equity (as defined in the regulations) to risk-weighted assets (as defined), and of Tier I capital to total average assets (as defined). Management believes, as of December 31, 2016 and June 30, 2016, that the Bank met all capital adequacy requirements to which it is subject. As of December 31, 2016 and June 30, 2016, the Bank was well capitalized under the regulatory framework for prompt corrective action. There are no conditions or events that management believes have changed the Bank’s category. To Be Well Capitalized For Capital Adequacy Under Prompt Corrective Actual Purposes Action Provisions Amount Ratio Amount Ratio Amount Ratio (Dollars in thousands) As of December 31, 2016 Total Capital $ 15,787 18.1 % $ 6,994 8.0 % $ 8,742 10.0 % Tier I Capital $ 14,685 16.8 % $ 5,245 6.0 % $ 6,994 8.0 % Common Equity $ 14,685 16.8 % $ 3,934 4.5 % $ 5,682 6.5 % Tier I Capital $ 14,685 11.7 % $ 5,032 4.0 % $ 6,290 5.0 % As of June 30, 2016 Total Capital $ 15,250 19.7 % $ 6,204 8.0 % $ 7,756 10.0 % Tier I Capital $ 14,269 18.4 % $ 4,653 6.0 % $ 6,204 8.0 % Common Equity $ 14,269 18.4 % $ 3,490 4.5 % $ 5,041 6.5 % Tier I Capital $ 14,269 12.1 % $ 4,727 4.0 % $ 5,909 5.0 % |
Disclosures about Fair Value of
Disclosures about Fair Value of Assets and Liabilities | 6 Months Ended |
Dec. 31, 2016 | |
Fair Value Disclosures [Abstract] | |
Disclosures about Fair Value of Assets and Liabilities | Note 5: Disclosures about Fair Value of Assets and Liabilities Fair value is the exchange price that would be received to sell an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. Fair value measurements must maximize the use of observable inputs and minimize the use of unobservable inputs. There is a hierarchy of three levels of inputs that may be used to measure fair value: Level 1 Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date. Level 2 Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. Level 3 Significant unobservable inputs that reflect an entity’s own assumptions about the assumptions that market participants would use in pricing an asset or liability. Recurring Measurements Fair Value Measurement Using Quoted Prices in Significant Active Markets for Significant Other Unobservable Fair Identical Assets Observable Inputs Inputs Value (Level 1) (Level 2) (Level 3) (In thousands) December 31, 2016 U.S. Government agency bonds $ 96 $ - $ 96 $ - Mortgage-backed securities of U.S. of government sponsored entities - residential 3,429 - 3,429 - $ 3,525 $ - $ 3,525 $ - June 30, 2016 Mortgage-backed securities of U.S. of government sponsored entities - residential $ 3,465 $ - $ 3,465 $ - Following is a description of the valuation methodologies and inputs used for assets measured at fair value on a recurring basis and recognized in the accompanying balance sheets, as well as the general classification of such assets pursuant to the valuation hierarchy. There were no assets classified within Level 3 of the fair value hierarchy measured on a recurring basis. There were no transfers between Level 1 and Level 2 during the periods ended December 31, 2016 and 2015. Available-for-sale Securities Where quoted market prices are available in an active market, securities are classified within Level 1 of the valuation hierarchy. If quoted prices are not available, then fair values are estimated by using quoted prices of securities with similar characteristics or independent asset pricing services and pricing models, the inputs of which are market-based or independently sourced market parameters, including, but not limited to yield curves, interest rates, volatilities, prepayments, defaults, cumulative loss projections and cash flow. Such securities are classified within Level 2 of the valuation hierarchy. Nonrecurring Measurements Fair Value Measurement Using Quoted Prices in Significant Active Markets Other Significant for Identical Observable Unobservable Fair Assets Inputs Inputs Value (Level 1) (Level 2) (Level 3) (In thousands) June 30, 2016 Impaired loans - residential One-to-four family owner occupied $ 276 $ - $ - $ 276 One-to-four family non-owner occupied 360 - - 360 Following is a description of the valuation methodologies and inputs used for assets measured at fair value on a non-recurring basis and recognized in the accompanying balance sheets, as well as the general classification of such assets pursuant to the valuation hierarchy. For assets classified within Level 3 of the fair value hierarchy, the process used to develop the reported fair value is described below. Impaired Loans (Collateral Dependent) The fair value of impaired loans with specific allocations of the allowance for loan losses is generally based on recent real estate appraisals. These appraisals may utilize a single valuation approach or a combination of approaches including comparable sales and the income approach. Adjustments are routinely made in the appraisal process by the independent appraisers to adjust for differences between the comparable sales and income data available. Such adjustments are usually significant and typically result in a Level 3 classification of the inputs for determining fair value. Non-real estate collateral may be valued using an appraisal, net book value per the borrower’s financial statements, or aging reports, adjusted or discounted based on management’s historical knowledge, changes in market conditions from the time of the valuation, and management’s expertise and knowledge of the client and client’s business, resulting in a Level 3 fair value classification. Impaired loans are evaluated on a quarterly basis for additional impairment and adjusted accordingly. Appraisals for collateral-dependent impaired loans are performed by certified general appraisers (for commercial properties) or certified residential appraisers (for residential properties) whose qualifications and licenses have been reviewed and verified by the Company. Once received, a member of management reviews the assumptions and approaches utilized in the appraisal as well as the overall resulting fair value in comparison with independent data sources such as recent market data or industry-wide statistics. Unobservable (Level 3) Inputs Range Fair Value at June (Weighted 30, 2016 Valuation Technique Unobservable Inputs Average) (In thousands) Impaired loans (collateral dependent) - one-to-four family owner occupied residential real estate $ 276 Sales comparison approach Adjustment for differences between the comparable real estate sales 10 % Impaired loans (collateral dependent) - one-to-four family non-owner occupied residential real estate $ 360 Sales comparison approach Adjustment for differences between the comparable real estate sales 10 % Fair Value of Financial Instruments Fair Value Measurement Using Quoted Prices in Significant Active Markets for Significant Other Unobservable Carrying Identical Assets Observable Inputs Inputs Amount (Level 1) (Level 2) (Level 3) Total (In thousands) December 31, 2016 Financial assets Cash and cash equivalents $ 9,456 $ 9,456 $ - $ - $ 9,456 Interest-bearing time deposits 100 100 - - 100 Held-to-maturity securities 349 - 351 - 351 Loans and loans held for sale 107,314 - - 107,042 107,042 Federal Home Loan Bank stock 1,192 n/a n/a n/a n/a Accrued interest receivable 365 - 365 - 365 Financial liabilities Deposits 85,088 50,587 34,612 85,199 Federal Home Loan Bank advances 26,286 - 26,927 - 26,927 Accrued interest payable 37 - 37 - 37 June 30, 2016 Financial assets Cash and cash equivalents $ 3,672 $ 3,672 $ - $ - $ 3,672 Interest-bearing time deposits 2,100 2,100 - - 2,100 Held-to-maturity securities 986 - 996 - 996 Loans and loans held for sale 101,709 - - 102,480 102,480 Federal Home Loan Bank stock 1,192 n/a n/a n/a n/a Accrued interest receivable 292 - 292 - 292 Financial liabilities Deposits 77,214 37,010 40,584 - 77,594 Federal Home Loan Bank advances 25,319 - 25,445 - 25,445 Accrued interest payable 33 - 33 - 33 The following methods were used to estimate the fair value of all other financial instruments recognized in the accompanying balance sheets at amounts other than fair value. Cash and Cash Equivalents and Interest-bearing Time Deposits The carrying amount of cash, short-term instruments and time deposits approximate fair value and are classified as Level 1. Held-to-Maturity Securities The fair value of held-to-maturity securities was estimated by using pricing models that contain market pricing and information, quoted prices of securities with similar characteristics or discounted cash flows that use credit-adjusted discount rates, resulting in a Level 2 classification. Loans Fair values of loans are estimated as follows: For variable rate loans that reprice frequently and with no significant change in credit risk, fair values are based on carrying values, resulting in a Level 3 classification. Fair values for other loans are estimated using discounted cash flow analyses, using interest rates currently being offered for loans with similar terms to borrowers of similar credit quality, resulting in a Level 3 classification. The methods utilized to estimate the fair values of loans do not necessarily represent an exit price. Federal Home Loan Bank Stock It is not practicable to determine the fair value of FHLB stock due to restrictions placed on its transferability. Accrued Interest Receivable and Payable The carrying amounts of accrued interest approximate fair value, resulting in a Level 2 classification. Deposits The fair values disclosed for demand deposits (e.g., interest and non-interest checking, passbook savings, and certain types of money market accounts) are, by definition, equal to the amount payable on demand at the reporting date (i.e., their carrying amount) resulting in a Level 1 classification. The carrying amounts of variable rate, fixed-term money market accounts and certificates of deposit approximate their fair values at the reporting date resulting in a Level 1 classification. Fair values for fixed rate certificates of deposit are estimated using a discounted cash flows calculation that applies interest rates currently being offered on certificates to a schedule of aggregated expected monthly maturities on time deposits. Federal Home Loan Bank Advances The fair values of FHLB advances are estimated using discounted cash flow analyses based on the current borrowing rates for similar types of borrowing arrangements, resulting in a Level 2 classification. Off Balance Sheet Instruments Fair values of off-balance sheet, credit-related financial instruments are based on fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreements and the counterparties’ credit standing. The fair value of commitments is not material. |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Loss | 6 Months Ended |
Dec. 31, 2016 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |
Accumulated Other Comprehensive Loss | Note 6: Accumulated Other Comprehensive Loss Unrealized Unrealized Gains and Losses Gains and Losses on Securities on Available Transferred from for Sale Available for Sale to Securities Held to Maturity Total (In thousands) Three Months Ended December 31, 2016 Balance, October 1, 2016 $ (78) $ (11) $ (89) Other comprehensive loss (53) 4 (49) Balance, December 31, 2016 $ (131) $ (7) $ (138) Three Months Ended December 31, 2015 Balance, October 1, 2015 $ (81) $ (18) $ (99) Other comprehensive income (11) - (11) Balance, December 31, 2015 $ (92) $ (18) $ (110) Unrealized Unrealized Gains and Losses Gains and Losses on Securities on Available Transferred from for Sale Available for Sale to Securities Held to Maturity Total (In thousands) Six Months Ended December 31, 2016 Balance, July 1, 2016 $ (67) $ (12) $ (79) Other comprehensive loss (64) 5 (59) Balance, December 31, 2016 $ (131) $ (7) $ (138) Six Months Ended December 31, 2015 Balance, July 1, 2015 $ (73) $ (18) $ (91) Other comprehensive income, net of tax (19) - (19) Balance, December 31, 2015 $ (92) $ (18) $ (110) There were no material items reclassified from accumulated other comprehensive loss to the statements of income for the three- and six-month periods ended December 31, 2016 and 2015. |
Earnings Per Share
Earnings Per Share | 6 Months Ended |
Dec. 31, 2016 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | Note 7: Earnings Per Share Basic earnings per share (“EPS”) excludes dilution and is calculated by dividing net income applicable to common stock by the weighted-average number of shares of common stock outstanding during the period. Diluted EPS is computed in a manner similar to that of basic EPS except that the weighted-average number of common shares outstanding is increased to include the number of incremental common shares that would have been outstanding if all potentially dilutive common stock equivalents were issued during the period. Unallocated common shares held by the Company’s Employee Stock Ownership Plan (the “ESOP”) are shown as a reduction in stockholders’ equity and are excluded from weighted-average common shares outstanding for both basic and diluted EPS calculations until they are committed to be released. Earnings per share were computed as follows for the three- and six-month periods ended December 31, 2016. Three Months Ended December 31, 2016 Weighted- Net Average Per Share Income Shares Amount (In thousands) Net income $ 124 Basic earnings per share 818,927 $ 0.15 Effect of dilutive securities Stock options 4,385 Restricted stock awards 4,355 Diluted earnings per share 827,667 $ 0.15 Six Months Ended December 31, 2016 Weighted- Net Average Per Share Income Shares Amount (In thousands) Net income $ 197 Basic earnings per share 818,405 $ 0.24 Effect of dilutive securities Stock options 3,717 Restricted stock awards 3,650 Diluted earnings per share 825,772 $ 0.24 Earnings per share for the three months ended December 31, 2015 was $0.03, calculated using 876,163 shares issued, less 70,055 weighted-average unallocated shares held by the ESOP. Earnings per share for the six months ended December 31, 2015 was $0.09, calculated using 876,163 shares issued, less 70,074 weighted-average unallocated shares held by the ESOP. The Company had no dilutive or potentially dilutive securities at December 31, 2015. |
Employee Stock Ownership Plan
Employee Stock Ownership Plan | 6 Months Ended |
Dec. 31, 2016 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Employee Stock Ownership Plan | Note 8: Employee Stock Ownership Plan As part of the stock conversion, shares were purchased by the ESOP with a loan from MW Bancorp. All employees of the Bank meeting certain tenure requirements are entitled to participate in the ESOP. Compensation expense related to the ESOP was $ 21,000 35,000 15,000 28,000 For the six months ended December 31, 2016 2015 Beginning balance 66,589 70,093 New share purchases - - Shares released to participants - - Shares allocated to participants (3,928) (3,504) Ending balance 62,661 66,589 The stock price at the formation date was $10.00. The aggregate fair value of the 62,661 1.2 18.88 |
Equity Incentive Plan
Equity Incentive Plan | 6 Months Ended |
Dec. 31, 2016 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Equity Incentive Plan | Note 9: Equity Incentive Plan In April 2016, the Company’s stockholders adopted the MW Bancorp, Inc. 2016 Equity Incentive Plan (the “2016 Plan”). No more than 122,662 87,616 35,046 Awards may vest or become exercisable only upon the achievement of performance measures or based solely on the passage of time after award. Stock options and restricted stock awards provide for accelerated vesting if there is a change in control (as defined in the 2016 Plan). In May 2016, the Company granted stock options for 60,150 14.88 4.67 19.46 1.81 0.00 No options granted under the 2016 Plan were exercisable at December 31, 2016. In May 2016, the Company awarded 28,810 Total compensation cost recognized in the income statement for share-based payment arrangements during the three and six months ended December 31, 2016 was $ 31,000 As of December 31, 2016, there was $ 650,000 6.0 |
Recent Accounting Pronouncement
Recent Accounting Pronouncements | 6 Months Ended |
Dec. 31, 2016 | |
Accounting Changes and Error Corrections [Abstract] | |
Recent Accounting Pronouncements | Note 10: Recent Accounting Pronouncements FASB ASU 2014-09, Revenue from Contracts with Customers FASB ASU 2016-01 Recognition and Measurement of Financial Assets and Financial Liabilities. Recognition and Measurement of Financial Assets and Financial Liabilities For public business entities, the amendments in this update are effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Early adoption of the amendments in this update is not permitted, except that early application by public business entities to financial statements of fiscal years or interim periods that have not yet been issued or, by all other entities, that have not yet been made available for issuance are permitted as of the beginning of the fiscal year of adoption under certain circumstances. An entity should 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 if the entity has elected to measure the liability at fair value in accordance with the fair value option for financial instruments. An entity should apply the amendments to this update by means of a cumulative-effect adjustment to the balance sheet as of the beginning of the fiscal year of adoption. Management is currently evaluating the impact of adopting this guidance on the Company’s financial statements. FASB ASU 2016-02, Leases. Leases • A lease liability, which is a lessee’s obligation to make lease payments arising from a lease, measured on a discounted basis; and • A right-of-use asset, which is an asset that represents the lessee’s right to use, or control the use of, a specified asset for the lease term. Under the new guidance, lessor accounting is largely unchanged. Certain targeted improvements were made to align, where necessary, lessor accounting with the lessee accounting model and Topic 606, Revenue from Contracts with Customers The new lease guidance simplified the accounting for sale and leaseback transactions primarily because lessees must recognize lease assets and lease liabilities. Lessees will no longer be provided with a source of off-balance sheet financing. Public business entities should apply the amendments in ASU 2016-02 for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years (i.e., January 1, 2019, for a calendar year entity). Early application is permitted for all public business entities upon issuance. Lessees (for capital and operating leases) and lessors (for sales-type, direct financing, and operating leases) must apply a modified retrospective transition approach for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements. The modified retrospective approach would not require any transition accounting for leases that expired before the earliest comparative period presented. Lessees and lessors may not apply a full retrospective transition approach. Management is currently evaluating the impact of adopting this guidance on the Company’s financial statements. FASB ASU 2016-13 Financial Instruments-Credit Losses. |
Change in Corporate Form
Change in Corporate Form | 6 Months Ended |
Dec. 31, 2016 | |
Change In Corporate Form [Abstract] | |
Change In Corporate Form | Note 11: Change in Corporate Form On January 29, 2015, the Bank converted into a stock savings bank structure with the establishment of a stock holding company, MW Bancorp, Inc., a Maryland corporation, as parent of the Bank. The Bank converted to the stock form of ownership, followed by the issuance of all of the Bank’s outstanding stock to the Company. Pursuant to the Plan, the Bank determined the total offering value and number of shares of common stock based upon an independent appraiser’s valuation. The stock was priced at $ 10.00 8 8.8 At the completion of the conversion to stock form, the Bank established a liquidation account in the amount of retained earnings contained in the final prospectus. The liquidation account will be maintained for the benefits of eligible savings account holders who maintain deposit accounts in the Bank after conversion. The conversion was accounted for as a change in corporate form with the historic basis of the Bank’s assets, liabilities and equity unchanged as a result. |
Basis of Presentation (Policies
Basis of Presentation (Policies) | 6 Months Ended |
Dec. 31, 2016 | |
Accounting Policies [Abstract] | |
Principles of Consolidation | Principles of Consolidation The consolidated financial statements as of and for the periods ended December 31, 2016, include MW Bancorp, Inc. and its wholly owned subsidiary, Watch Hill Bank, together referred to as “the Company.” Intercompany transactions and balances have been eliminated in consolidation. |
Use of Estimates | Use of Estimates The preparation of financial statements in conformity with U.S. generally accepted accounting principles 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 dates of the financial statements and the reported amounts of revenues and expenses during the reported periods. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change relate to the determination of the allowance for loan losses, valuation of real estate acquired in connection with foreclosures or in satisfaction of loans, valuation of deferred tax assets and fair values of financial instruments. |
Securities (Tables)
Securities (Tables) | 6 Months Ended |
Dec. 31, 2016 | |
Investments, Debt and Equity Securities [Abstract] | |
Marketable Securities | The amortized cost and approximate fair values, together with gross unrealized gains and losses, of securities are as follows: Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (In thousands) Available-for-sale Securities: December 31, 2016 Municipal bonds $ 100 $ - $ (4) $ 96 Mortgage-backed securities of U.S. government sponsored entities - residential 3,469 3 (43) 3,429 $ 3,569 $ 3 $ (47) $ 3,525 June 30, 2016 Mortgage-backed securities of U.S. government sponsored entities - residential $ 3,445 $ 36 $ (16) $ 3,465 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (In thousands) Held-to-maturity Securities: December 31, 2016 Mortgage-backed securities of U.S. government sponsored entities - residential $ 349 $ 4 $ (2) $ 351 June 30, 2016 Mortgage-backed securities of U.S. government sponsored entities - residential $ 986 $ 11 $ (1) $ 996 |
Schedule Of Securities Without Single Maturity Date | The amortized cost and fair value of available-for-sale securities and held-to-maturity securities at December 31, 2016, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. Securities not due at a single maturity date are shown separately. December 31, 2016 Available-for-sale Held-to-maturity Amortized Fair Amortized Fair Cost Value Cost Value (In thousands) Municipal bonds Due in three-to-five years $ 100 $ 96 $ - $ - Mortgage-backed securities of U.S. government sponsored entities - residential - not due at a single maturity date 3,469 3,429 349 351 $ 3,569 $ 3,525 $ 349 $ 351 |
Schedule of Unrealized Loss on Investments | The following tables show the Company’s investments’ gross unrealized losses and fair value of the Company’s investments with unrealized losses that are not deemed to be other-than-temporarily impaired, aggregated by investment class and length of time that individual securities have been in a continuous unrealized loss position at December 31, 2016 and June 30, 2016 : Less than 12 Months 12 Months or Longer Total Fair Unrealized Fair Unrealized Fair Unrealized Description of Securities Value Losses Value Losses Value Losses (In thousands) December 31, 2016 Available-for-sale Securities: Municipal bonds $ 96 $ (4) $ - $ - $ 96 $ (4) Mortgage-backed securities of U.S. government sponsored entities - residential 2,201 (28) 685 (15) 2,886 (43) Held-to-maturity Securities: Mortgage-backed securities of U.S. government sponsored entities - residential 175 (2) - - 175 (2) $ 2,472 $ (34) $ 685 $ (15) $ 3,157 $ (49) June 30, 2016 Available-for-sale Securities: Mortgage-backed securities of U.S. government sponsored entities - residential $ 740 $ (9) $ 486 $ (7) $ 1,226 $ (16) Held-to-maturity Securities: Mortgage-backed securities of U.S. government sponsored entities - residential - - 256 (1) 256 (1) $ 740 $ (9) $ 742 $ (8) $ 1,482 $ (17) |
Loans and Allowance for Loan 22
Loans and Allowance for Loan Losses (Tables) | 6 Months Ended |
Dec. 31, 2016 | |
Receivables [Abstract] | |
Schedule of Accounts, Notes, Loans and Financing Receivable | Loans at December 31, 2016 and June 30, 2016 include: December 31, June 30, 2016 2016 (In thousands) Real estate loans One- to four-family residential $ 67,297 $ 65,294 Multi-family residential 8,385 9,076 Commercial 23,745 17,486 Construction 6,023 6,720 Commercial 3,117 2,397 Consumer and other 232 548 Total loans 108,799 101,521 Less: Net deferred loan costs (72) (60) Allowance for loan losses 1,636 1,635 Net loans $ 107,235 $ 99,946 |
Allowance for Credit Losses on Financing Receivables | The following table presents, by portfolio segment, the activity in the allowance for loan losses for the three and six months ended December 31, 2016 and the recorded investment in loans and impairment method as of December 31, 2016: December 31, 2016 1-4 Family 1-4 Family Owner Non-Owner Multi- Occupied Occupied family Commercial Construction Consumer Total (In thousands) Three Months Ended December 31, 2016 Allowance for loan losses: Balance, October 1, 2016 $ 1,019 $ 226 $ 36 $ 225 $ 126 - $ 1,632 Provision for loan losses (41) 15 6 43 (22) (1) - Charge-offs - - - - - - - Recoveries 3 - - - - 1 4 Balance, December 31, 2016 $ 981 $ 241 $ 42 $ 268 $ 104 $ - $ 1,636 Six Months Ended December 31, 2016 Allowance for loan losses: Balance, July 1, 2016 $ 1,004 $ 282 $ 66 $ 167 $ 116 $ - $ 1,635 Provision for loan losses (26) (41) (24) 101 (12) 2 - Charge-offs - - - - - (4) (4) Recoveries 3 - - - - 2 5 Balance, December 31, 2016 $ 981 $ 241 $ 42 $ 268 $ 104 $ - $ 1,636 Allowance for loan losses: Ending balance, individually evaluated for impairment $ 44 $ 33 $ 22 $ - $ - $ - $ 99 Ending balance, collectively evaluated for impairment $ 937 $ 208 $ 20 $ 268 $ 104 $ - $ 1,537 Loans: Ending balance $ 54,923 $ 12,374 $ 8,385 $ 26,862 $ 6,023 $ 232 $ 108,799 Ending balance; individually evaluated for impairment $ 841 $ 348 $ 107 $ 141 $ - $ - $ 1,437 Ending balance; collectively evaluated for impairment $ 54,082 $ 12,026 $ 8,278 $ 26,721 $ 6,023 $ 232 $ 107,362 The following table presents, by portfolio segment, the activity in the allowance for loan losses for the three and six months ended December 31, 2015: 1-4 Family 1-4 Family Owner Non-Owner Multi- Occupied Occupied family Commercial Construction Consumer Total (In thousands) Three Months Ended December 31, 2015 Allowance for loan losses: Balance, October 1, 2015 $ 1,159 $ 258 $ 2 $ 127 $ 64 - $ 1,610 Provision for loan losses 5 21 (1) (11) (4) (2) 8 Charge-offs - - - - - - - Recoveries - - - - - 2 2 Balance, December 31, 2015 $ 1,164 $ 279 $ 1 $ 116 $ 60 $ - $ 1,620 Six Months Ended December 31, 2015 Allowance for loan losses: Balance, July 1, 2015 $ 1,130 $ 287 $ 3 $ 124 $ 58 $ - $ 1,602 Provision for loan losses 32 (8) (2) (8) 2 (3) 13 Charge-offs - - - - - - - Recoveries 2 - - - - 3 5 Balance, December 31, 2015 $ 1,164 $ 279 $ 1 $ 116 $ 60 $ - $ 1,620 1-4 Family 1-4 Family Owner Non-Owner Multi- Occupied Occupied family Commercial Construction Consumer Total (In thousands) June 30, 2016 Allowance for loan losses: Ending balance, individually evaluated for impairment $ 89 $ 72 $ 27 $ - $ - $ - $ 188 Ending balance, collectively evaluated for impairment $ 915 $ 210 $ 39 $ 167 $ 116 $ - $ 1,447 Loans: Ending balance $ 53,060 $ 12,234 $ 9,076 $ 19,883 $ 6,720 $ 548 $ 101,521 Ending balance; individually evaluated for impairment $ 1,047 $ 530 $ 111 $ 145 $ - $ - $ 1,833 Ending balance; collectively evaluated for impairment $ 52,013 $ 11,704 $ 8,965 $ 19,738 $ 6,720 $ 548 $ 99,688 |
Financing Receivable Credit Quality Indicators | The following tables present the credit risk profile of the Company’s loan portfolio based on internal rating category and payment activity as of December 31, 2016 and June 30, 2016: December 31, 2016 1-4 Family 1-4 Family Owner Non-Owner Multi- Occupied Occupied family Commercial Construction Consumer Total (In thousands) Pass $ 54,281 $ 11,992 $ 8,278 $ 26,765 $ 6,023 $ 232 $ 107,571 Special mention - - - - - - - Substandard 642 382 107 97 - - 1,228 Doubtful - - - - - - - Total $ 54,923 $ 12,374 $ 8,385 $ 26,862 $ 6,023 $ 232 $ 108,799 June 30, 2016 1-4 Family 1-4 Family Owner Non-Owner Multi- Occupied Occupied family Commercial Construction Consumer Total (In thousands) Pass $ 52,224 $ 11,558 $ 9,076 $ 19,883 $ 6,720 $ 548 $ 100,009 Special mention - - - - - - - Substandard 836 676 - - - - 1,512 Doubtful - - - - - - - Total $ 53,060 $ 12,234 $ 9,076 $ 19,883 $ 6,720 $ 548 $ 101,521 |
Past Due Financing Receivables | The following tables present the Company’s loan portfolio aging analysis of the recorded investment in loans as of December 31, 2016 and June 30, 2016: December 31, 2016 Total Loans > 30-59 Days 60-89 Days Greater Than Total Total Loans 90 Days & Past Due Past Due 90 Days Past Due Current Receivable Accruing (In thousands) 1-4 family owner-occupied $ 91 $ 118 $ - $ 209 $ 54,714 $ 54,923 $ - 1-4 family non-owner occupied 36 - - 36 12,338 12,374 - Multi-family residential - - - - 8,385 8,385 - Commercial 1,056 - - 1,056 25,806 26,862 - Construction - - - - 6,023 6,023 - Consumer and other - - - - 232 232 - Total $ 1,183 $ 118 $ - $ 1,301 $ 107,498 $ 108,799 $ - June 30, 2016 Total Loans > 30-59 Days 60-89 Days Greater Than Total Total Loans 90 Days & Past Due Past Due 90 Days Past Due Current Receivable Accruing (In thousands) 1-4 family owner-occupied $ 136 $ 86 $ - $ 222 $ 52,838 $ 53,060 $ - 1-4 family non-owner occupied 379 - - 379 11,855 12,234 - Multi-family residential - - - - 9,076 9,076 - Commercial - - - - 19,883 19,883 - Construction - - - - 6,720 6,720 - Consumer and other - - - - 548 548 - Total $ 515 $ 86 $ - $ 601 $ 100,920 $ 101,521 $ - |
Impaired Financing Receivables | The following table presents impaired loan information as of, and for the three and six months ended, December 31, 2016: For the Three Months Ended For the Six Months Ended As of December 31, 2016 December 31, 2016 December 31, 2016 Allowance Unpaid for Loan Average Interest Average Interest Recorded Principal Losses Recorded Income Recorded Income Investment Balance Allocated Investment Recognized Investment Recognized (In thousands) Loans with no related allowance recorded: Real estate 1-4 family owner-occupied $ 571 $ 757 $ - $ 575 $ 4 582 $ 10 1-4 family non-owner occupied 112 147 - 113 - 115 - Multi-family residential - - - - - - - Commercial 141 156 - 142 3 143 5 Construction - - - - - - - Consumer and other - - - - - - - Loans with an allowance recorded: Real estate 1-4 family owner-occupied 270 337 44 272 - 277 - 1-4 family non-owner occupied 236 279 33 238 - 241 - Multi-family residential 107 110 22 107 - 109 - Commercial - - - - - - - Construction - - - - - - - Consumer and other - - - - - - - Totals $ 1,437 $ 1,786 $ 99 $ 1,447 $ 7 $ 1,467 $ 15 The following table presents impaired loan information as of June 30, 2016 and for the three and six months ended December 31, 2015: For the Three Months Ended For the Six Months Ended As of June 30, 2016 December 31, 2015 December 31, 2015 Allowance Unpaid for Loan Average Interest Average Interest Recorded Principal Losses Recorded Income Recorded Income Investment Balance Allocated Investment Recognized Investment Recognized (In thousands) Loans with no related allowance recorded: 1-4 family owner-occupied $ 682 $ 881 $ - $ 773 $ 6 $ 805 $ 12 1-4 family non-owner occupied 182 213 - 126 - 128 - Multi-family residential - - - - - - - Commercial 145 160 - 150 2 150 5 Construction - - - - - - - Consumer and other - - - - - - - Loans with an allowance recorded: 1-4 family owner-occupied 365 451 89 376 - 380 - 1-4 family non-owner occupied 348 385 72 152 - 154 - Multi-family residential 111 111 27 - - - - Commercial - - - - - - - Construction - - - - - - - Consumer and other - - - - - - - Totals $ 1,833 $ 2,201 $ 188 $ 1,577 $ 8 $ 1,617 $ 17 |
Schedule of Financing Receivables, Non Accrual Status | The following table presents the Company’s nonaccrual loans at December 31, 2016 and June 30, 2016. The table excludes performing troubled debt restructurings. December 31, June 30, 2016 2016 (In thousands) Real estate 1-4 family owner-occupied $ 453 $ 568 1-4 family non-owner occupied 348 530 Multi-family residential 107 111 Commercial - - Construction - - Consumer and other - - Total nonaccrual $ 908 $ 1,209 |
Regulatory Matters (Tables)
Regulatory Matters (Tables) | 6 Months Ended |
Dec. 31, 2016 | |
Banking and Thrift [Abstract] | |
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations | The Bank’s actual capital amounts and ratios as of December 31, 2016 and June 30, 2016, are presented in the following table: To Be Well Capitalized For Capital Adequacy Under Prompt Corrective Actual Purposes Action Provisions Amount Ratio Amount Ratio Amount Ratio (Dollars in thousands) As of December 31, 2016 Total Capital $ 15,787 18.1 % $ 6,994 8.0 % $ 8,742 10.0 % Tier I Capital $ 14,685 16.8 % $ 5,245 6.0 % $ 6,994 8.0 % Common Equity $ 14,685 16.8 % $ 3,934 4.5 % $ 5,682 6.5 % Tier I Capital $ 14,685 11.7 % $ 5,032 4.0 % $ 6,290 5.0 % As of June 30, 2016 Total Capital $ 15,250 19.7 % $ 6,204 8.0 % $ 7,756 10.0 % Tier I Capital $ 14,269 18.4 % $ 4,653 6.0 % $ 6,204 8.0 % Common Equity $ 14,269 18.4 % $ 3,490 4.5 % $ 5,041 6.5 % Tier I Capital $ 14,269 12.1 % $ 4,727 4.0 % $ 5,909 5.0 % |
Disclosures about Fair Value 24
Disclosures about Fair Value of Assets and Liabilities (Tables) | 6 Months Ended |
Dec. 31, 2016 | |
Fair Value Disclosures [Abstract] | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis | The following table presents the fair value measurement of assets recognized in the accompanying balance sheets measured at fair value on a recurring basis and the level within the fair value hierarchy in which the fair value measurements fell at December 31, 2016 and June 30, 2016: Fair Value Measurement Using Quoted Prices in Significant Active Markets for Significant Other Unobservable Fair Identical Assets Observable Inputs Inputs Value (Level 1) (Level 2) (Level 3) (In thousands) December 31, 2016 U.S. Government agency bonds $ 96 $ - $ 96 $ - Mortgage-backed securities of U.S. of government sponsored entities - residential 3,429 - 3,429 - $ 3,525 $ - $ 3,525 $ - June 30, 2016 Mortgage-backed securities of U.S. of government sponsored entities - residential $ 3,465 $ - $ 3,465 $ - |
Fair Value Measurements, Nonrecurring | The Company had no assets measured at fair value on a non-recurring basis at December 31, 2016. The following table presents fair value measurements of assets measured at fair value on a non-recurring basis and the level within the fair value hierarchy in which fair value measurements fell at June 30, 2016: Fair Value Measurement Using Quoted Prices in Significant Active Markets Other Significant for Identical Observable Unobservable Fair Assets Inputs Inputs Value (Level 1) (Level 2) (Level 3) (In thousands) June 30, 2016 Impaired loans - residential One-to-four family owner occupied $ 276 $ - $ - $ 276 One-to-four family non-owner occupied 360 - - 360 |
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques | The following table presents quantitative information about unobservable inputs used in nonrecurring Level 3 fair value measurements: Range Fair Value at June (Weighted 30, 2016 Valuation Technique Unobservable Inputs Average) (In thousands) Impaired loans (collateral dependent) - one-to-four family owner occupied residential real estate $ 276 Sales comparison approach Adjustment for differences between the comparable real estate sales 10 % Impaired loans (collateral dependent) - one-to-four family non-owner occupied residential real estate $ 360 Sales comparison approach Adjustment for differences between the comparable real estate sales 10 % |
Fair Value, by Balance Sheet Grouping | The following table presents the carrying amount and estimated fair values of the Company’s financial instruments not carried at fair value and the level within the fair value hierarchy in which the fair value measurements fall at December 31, 2016 and June 30, 2016. Fair Value Measurement Using Quoted Prices in Significant Active Markets for Significant Other Unobservable Carrying Identical Assets Observable Inputs Inputs Amount (Level 1) (Level 2) (Level 3) Total (In thousands) December 31, 2016 Financial assets Cash and cash equivalents $ 9,456 $ 9,456 $ - $ - $ 9,456 Interest-bearing time deposits 100 100 - - 100 Held-to-maturity securities 349 - 351 - 351 Loans and loans held for sale 107,314 - - 107,042 107,042 Federal Home Loan Bank stock 1,192 n/a n/a n/a n/a Accrued interest receivable 365 - 365 - 365 Financial liabilities Deposits 85,088 50,587 34,612 85,199 Federal Home Loan Bank advances 26,286 - 26,927 - 26,927 Accrued interest payable 37 - 37 - 37 June 30, 2016 Financial assets Cash and cash equivalents $ 3,672 $ 3,672 $ - $ - $ 3,672 Interest-bearing time deposits 2,100 2,100 - - 2,100 Held-to-maturity securities 986 - 996 - 996 Loans and loans held for sale 101,709 - - 102,480 102,480 Federal Home Loan Bank stock 1,192 n/a n/a n/a n/a Accrued interest receivable 292 - 292 - 292 Financial liabilities Deposits 77,214 37,010 40,584 - 77,594 Federal Home Loan Bank advances 25,319 - 25,445 - 25,445 Accrued interest payable 33 - 33 - 33 |
Accumulated Other Comprehensi25
Accumulated Other Comprehensive Loss (Tables) | 6 Months Ended |
Dec. 31, 2016 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |
Schedule of Accumulated Other Comprehensive Loss | Changes in accumulated other comprehensive loss by component, net of tax, for the three and six months ended December 31, 2016 and 2015 are as follows: Unrealized Unrealized Gains and Losses Gains and Losses on Securities on Available Transferred from for Sale Available for Sale to Securities Held to Maturity Total (In thousands) Three Months Ended December 31, 2016 Balance, October 1, 2016 $ (78) $ (11) $ (89) Other comprehensive loss (53) 4 (49) Balance, December 31, 2016 $ (131) $ (7) $ (138) Three Months Ended December 31, 2015 Balance, October 1, 2015 $ (81) $ (18) $ (99) Other comprehensive income (11) - (11) Balance, December 31, 2015 $ (92) $ (18) $ (110) Unrealized Unrealized Gains and Losses Gains and Losses on Securities on Available Transferred from for Sale Available for Sale to Securities Held to Maturity Total (In thousands) Six Months Ended December 31, 2016 Balance, July 1, 2016 $ (67) $ (12) $ (79) Other comprehensive loss (64) 5 (59) Balance, December 31, 2016 $ (131) $ (7) $ (138) Six Months Ended December 31, 2015 Balance, July 1, 2015 $ (73) $ (18) $ (91) Other comprehensive income, net of tax (19) - (19) Balance, December 31, 2015 $ (92) $ (18) $ (110) |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 6 Months Ended |
Dec. 31, 2016 | |
Earnings Per Share [Abstract] | |
Schedule of Earnings Per Share, Basic and Diluted | Earnings per share were computed as follows for the three- and six-month periods ended December 31, 2016. Three Months Ended December 31, 2016 Weighted- Net Average Per Share Income Shares Amount (In thousands) Net income $ 124 Basic earnings per share 818,927 $ 0.15 Effect of dilutive securities Stock options 4,385 Restricted stock awards 4,355 Diluted earnings per share 827,667 $ 0.15 Six Months Ended December 31, 2016 Weighted- Net Average Per Share Income Shares Amount (In thousands) Net income $ 197 Basic earnings per share 818,405 $ 0.24 Effect of dilutive securities Stock options 3,717 Restricted stock awards 3,650 Diluted earnings per share 825,772 $ 0.24 |
Employee Stock Ownership Plan (
Employee Stock Ownership Plan (Tables) | 6 Months Ended |
Dec. 31, 2016 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Schedule Of Employee Stock Ownership Plan ESOP | For the six months ended December 31, 2016 2015 Beginning balance 66,589 70,093 New share purchases - - Shares released to participants - - Shares allocated to participants (3,928) (3,504) Ending balance 62,661 66,589 |
Basis of Presentation (Details
Basis of Presentation (Details Textual) | 6 Months Ended |
Dec. 31, 2016$ / sharesshares | |
Stock Issued During Period, Shares, New Issues | shares | 876,163 |
Share Price | $ / shares | $ 10 |
Securities (Details)
Securities (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Jun. 30, 2016 |
Available-for-sale Securities: | ||
Amortized Cost | $ 3,569 | |
Gross Unrealized Gains | 3 | |
Gross Unrealized Losses | (47) | |
Fair Value | 3,525 | $ 3,465 |
Held-to-maturity Securities: | ||
Held-to-maturity Securities, Fair Value | 351 | 996 |
Municipal Bonds [Member] | ||
Available-for-sale Securities: | ||
Amortized Cost | 100 | |
Gross Unrealized Gains | 0 | |
Gross Unrealized Losses | (4) | |
Fair Value | 96 | |
Mortgage-backed securities of U.S. government sponsored entities [Member] | Residential [Member] | ||
Available-for-sale Securities: | ||
Amortized Cost | 3,469 | 3,445 |
Gross Unrealized Gains | 3 | 36 |
Gross Unrealized Losses | (43) | (16) |
Fair Value | 3,429 | 3,465 |
Held-to-maturity Securities: | ||
Amortized Cost | 349 | 986 |
Gross Unrealized Gains | 4 | 11 |
Gross Unrealized Losses | (2) | (1) |
Held-to-maturity Securities, Fair Value | $ 351 | $ 996 |
Securities (Details 1)
Securities (Details 1) - USD ($) $ in Thousands | Dec. 31, 2016 | Jun. 30, 2016 |
Available-for-sale Securities,Amortized Cost | $ 3,569 | |
Available-for-sale Securities, Fair Value | 3,525 | |
Held-to-maturity Securities | 349 | $ 986 |
Held-to-maturity Securities, Fair Value | 349 | |
Held-to-maturity Securities, Fair Value | 351 | $ 996 |
Municipal Bonds [Member] | ||
Available-for-sale Securities,Amortized Cost, Over one to five years | 100 | |
Available-for-sale Securities, Fair Value, Over one to five years | 96 | |
Held-to-maturity Securities, Amortized Cost, Over one to five years | 0 | |
Held-to-maturity Securities, Fair Value, Over one to five years | 0 | |
Residential Portfolio Segment [Member] | Collateralized Mortgage Backed Securities [Member] | ||
Available-for-sale Debt Securities, Amortized Cost Basis | 3,469 | |
Available-for-sale Securities, Debt Securities | 3,429 | |
Held-to-maturity Securities | 349 | |
Held-to-maturity Securities, Fair Value | $ 351 |
Securities (Details 2)
Securities (Details 2) - USD ($) $ in Thousands | Dec. 31, 2016 | Jun. 30, 2016 |
Held-to-maturity Securities, Fair Value | ||
Less than 12 Months, Fair Value | $ 2,472 | $ 740 |
12 Months or Longer, Fair Value | 685 | 742 |
Fair Value | 3,157 | 1,482 |
Held-to-maturity Securities, Unrealized Losses | ||
Less than 12 Months, Unrealized Losses | (34) | (9) |
12 Months or Longer, Unrealized Losses | (15) | (8) |
Unrealized Losses | (49) | (17) |
Municipal Bonds [Member] | ||
Available-for-sale Securities, Fair Value | ||
Less than 12 Months, Fair Value | 96 | |
12 Months or Longer, Fair Value | 0 | |
Fair Value | 96 | |
Available-for-sale Securities, Unrealized Losses | ||
Less than 12 Months, Unrealized Losses | (4) | |
12 Months or Longer, Unrealized Losses | 0 | |
Unrealized Losses | (4) | |
Mortgage-backed securities of U.S. government sponsored entities - residential [Member] | Residential [Member] | ||
Available-for-sale Securities, Fair Value | ||
Less than 12 Months, Fair Value | 2,201 | 740 |
12 Months or Longer, Fair Value | 685 | 486 |
Fair Value | 2,886 | 1,226 |
Available-for-sale Securities, Unrealized Losses | ||
Less than 12 Months, Unrealized Losses | (28) | (9) |
12 Months or Longer, Unrealized Losses | (15) | (7) |
Unrealized Losses | (43) | (16) |
Held-to-maturity Securities, Fair Value | ||
Less than 12 Months, Fair Value | 175 | 0 |
12 Months or Longer, Fair Value | 0 | 256 |
Fair Value | 175 | 256 |
Held-to-maturity Securities, Unrealized Losses | ||
Less than 12 Months, Unrealized Losses | (2) | 0 |
12 Months or Longer, Unrealized Losses | 0 | (1) |
Unrealized Losses | $ (2) | $ (1) |
Securities (Details Textual)
Securities (Details Textual) - USD ($) | 6 Months Ended | |
Dec. 31, 2016 | Jun. 30, 2016 | |
Schedule of Held-to-maturity Securities [Line Items] | ||
Held-to-maturity Securities, Fair Value | $ 351,000 | $ 996,000 |
Pledged Assets Separately Reported, Securities Pledged as Collateral, at Fair Value, Total | 1,200,000 | $ 1,400,000 |
Securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Held-to-maturity Securities, Amortized Cost before Other than Temporary Impairment | 2,925,000 | |
Held-to-maturity Securities, Fair Value | 2,894,000 | |
Other Comprehensive Income Loss, Transfers from Available for Sale Securities to Held to maturity before Tax | 31,000 | |
Other Comprehensive Income (Loss) Remaining Unamortized Balance Transfers From Available For Sale Securities To Held To Maturity Before Tax | $ 7,000 |
Loans and Allowance for Loan 33
Loans and Allowance for Loan Losses (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Total loans | $ 108,799 | $ 101,521 | ||||
Less: | ||||||
Net deferred loan costs | (72) | (60) | ||||
Allowance for loan losses | 1,636 | $ 1,632 | 1,635 | $ 1,620 | $ 1,610 | $ 1,602 |
Net loans | 107,235 | 99,946 | ||||
Commercial Loan [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Total loans | 3,117 | 2,397 | ||||
Commercial [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Total loans | 23,745 | 17,486 | ||||
One-to-four-family residential [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Total loans | 67,297 | 65,294 | ||||
Multi-family residential [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Total loans | 8,385 | 9,076 | ||||
Less: | ||||||
Allowance for loan losses | 42 | $ 36 | 66 | $ 1 | $ 2 | $ 3 |
Construction [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Total loans | 6,023 | 6,720 | ||||
Consumer and other Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Total loans | $ 232 | $ 548 |
Loans and Allowance for Loan 34
Loans and Allowance for Loan Losses (Details 1) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Jun. 30, 2016 | |
Allowance for loan losses: | |||||
Ending balance, individually evaluated for impairment | $ 99 | $ 99 | $ 188 | ||
Ending balance, collectively evaluated for impairment | 1,537 | 1,537 | 1,447 | ||
Loans: | |||||
Ending balance | 108,799 | 108,799 | 101,521 | ||
Ending balance; individually evaluated for impairment | 1,437 | 1,437 | 1,833 | ||
Ending balance; collectively evaluated for impairment | 107,362 | 107,362 | 99,688 | ||
Allowance for loan losses: | |||||
Beginning Balance | 1,632 | $ 1,610 | 1,635 | $ 1,602 | |
Provision for loan losses | 0 | 8 | 0 | 13 | |
Charge-offs | 0 | 0 | (4) | 0 | |
Recoveries | 4 | 2 | 5 | 5 | |
Ending Balance | 1,636 | 1,620 | 1,636 | 1,620 | |
1-4 Family Owner Occupied [Member] | |||||
Allowance for loan losses: | |||||
Ending balance, individually evaluated for impairment | 44 | 44 | 89 | ||
Ending balance, collectively evaluated for impairment | 937 | 937 | 915 | ||
Loans: | |||||
Ending balance | 54,923 | 54,923 | 53,060 | ||
Ending balance; individually evaluated for impairment | 841 | 841 | 1,047 | ||
Ending balance; collectively evaluated for impairment | 54,082 | 54,082 | 52,013 | ||
Allowance for loan losses: | |||||
Beginning Balance | 1,019 | 1,159 | 1,004 | 1,130 | |
Provision for loan losses | (41) | 5 | (26) | 32 | |
Charge-offs | 0 | 0 | 0 | 0 | |
Recoveries | 3 | 0 | 3 | 2 | |
Ending Balance | 981 | 1,164 | 981 | 1,164 | |
1-4 Family Non-Owner Occupied [Member] | |||||
Allowance for loan losses: | |||||
Ending balance, individually evaluated for impairment | 33 | 33 | 72 | ||
Ending balance, collectively evaluated for impairment | 208 | 208 | 210 | ||
Loans: | |||||
Ending balance | 12,374 | 12,374 | 12,234 | ||
Ending balance; individually evaluated for impairment | 348 | 348 | 530 | ||
Ending balance; collectively evaluated for impairment | 12,026 | 12,026 | 11,704 | ||
Allowance for loan losses: | |||||
Beginning Balance | 226 | 258 | 282 | 287 | |
Provision for loan losses | 15 | 21 | (41) | (8) | |
Charge-offs | 0 | 0 | 0 | 0 | |
Recoveries | 0 | 0 | 0 | 0 | |
Ending Balance | 241 | 279 | 241 | 279 | |
Multi-family [Member] | |||||
Allowance for loan losses: | |||||
Ending balance, individually evaluated for impairment | 22 | 22 | 27 | ||
Ending balance, collectively evaluated for impairment | 20 | 20 | 39 | ||
Loans: | |||||
Ending balance | 8,385 | 8,385 | 9,076 | ||
Ending balance; individually evaluated for impairment | 107 | 107 | 111 | ||
Ending balance; collectively evaluated for impairment | 8,278 | 8,278 | 8,965 | ||
Allowance for loan losses: | |||||
Beginning Balance | 36 | 2 | 66 | 3 | |
Provision for loan losses | 6 | (1) | (24) | (2) | |
Charge-offs | 0 | 0 | 0 | 0 | |
Recoveries | 0 | 0 | 0 | 0 | |
Ending Balance | 42 | 1 | 42 | 1 | |
Commercial [Member] | |||||
Allowance for loan losses: | |||||
Ending balance, individually evaluated for impairment | 0 | 0 | 0 | ||
Ending balance, collectively evaluated for impairment | 268 | 268 | 167 | ||
Loans: | |||||
Ending balance | 26,862 | 26,862 | 19,883 | ||
Ending balance; individually evaluated for impairment | 141 | 141 | 145 | ||
Ending balance; collectively evaluated for impairment | 26,721 | 26,721 | 19,738 | ||
Allowance for loan losses: | |||||
Beginning Balance | 225 | 127 | 167 | 124 | |
Provision for loan losses | 43 | (11) | 101 | (8) | |
Charge-offs | 0 | 0 | 0 | 0 | |
Recoveries | 0 | 0 | 0 | 0 | |
Ending Balance | 268 | 116 | 268 | 116 | |
Construction [Member] | |||||
Allowance for loan losses: | |||||
Ending balance, individually evaluated for impairment | 0 | 0 | 0 | ||
Ending balance, collectively evaluated for impairment | 104 | 104 | 116 | ||
Loans: | |||||
Ending balance | 6,023 | 6,023 | 6,720 | ||
Ending balance; individually evaluated for impairment | 0 | 0 | 0 | ||
Ending balance; collectively evaluated for impairment | 6,023 | 6,023 | 6,720 | ||
Allowance for loan losses: | |||||
Beginning Balance | 126 | 64 | 116 | 58 | |
Provision for loan losses | (22) | (4) | (12) | 2 | |
Charge-offs | 0 | 0 | 0 | 0 | |
Recoveries | 0 | 0 | 0 | 0 | |
Ending Balance | 104 | 60 | 104 | 60 | |
Consumer [Member] | |||||
Allowance for loan losses: | |||||
Ending balance, individually evaluated for impairment | 0 | 0 | 0 | ||
Ending balance, collectively evaluated for impairment | 0 | 0 | 0 | ||
Loans: | |||||
Ending balance | 232 | 232 | 548 | ||
Ending balance; individually evaluated for impairment | 0 | 0 | 0 | ||
Ending balance; collectively evaluated for impairment | 232 | 232 | $ 548 | ||
Allowance for loan losses: | |||||
Beginning Balance | 0 | 0 | 0 | 0 | |
Provision for loan losses | (1) | (2) | 2 | (3) | |
Charge-offs | 0 | 0 | (4) | 0 | |
Recoveries | 1 | 2 | 2 | 3 | |
Ending Balance | $ 0 | $ 0 | $ 0 | $ 0 |
Loans and Allowance for Loan 35
Loans and Allowance for Loan Losses (Details 2) - USD ($) $ in Thousands | Dec. 31, 2016 | Jun. 30, 2016 |
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | $ 108,799 | $ 101,521 |
Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 107,571 | 100,009 |
Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 0 | 0 |
Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 1,228 | 1,512 |
Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 0 | 0 |
1-4 Family Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 54,923 | 53,060 |
1-4 Family Owner Occupied [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 54,281 | 52,224 |
1-4 Family Owner Occupied [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 0 | 0 |
1-4 Family Owner Occupied [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 642 | 836 |
1-4 Family Owner Occupied [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 0 | 0 |
1-4 Family Non-Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 12,374 | 12,234 |
1-4 Family Non-Owner Occupied [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 11,992 | 11,558 |
1-4 Family Non-Owner Occupied [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 0 | 0 |
1-4 Family Non-Owner Occupied [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 382 | 676 |
1-4 Family Non-Owner Occupied [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 0 | 0 |
Multi-family [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 8,385 | 9,076 |
Multi-family [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 8,278 | 9,076 |
Multi-family [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 0 | 0 |
Multi-family [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 107 | 0 |
Multi-family [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 0 | 0 |
Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 26,862 | 19,883 |
Commercial [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 26,765 | 19,883 |
Commercial [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 0 | 0 |
Commercial [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 97 | 0 |
Commercial [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 0 | 0 |
Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 6,023 | 6,720 |
Construction [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 6,023 | 6,720 |
Construction [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 0 | 0 |
Construction [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 0 | 0 |
Construction [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 0 | 0 |
Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 232 | 548 |
Consumer [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 232 | 548 |
Consumer [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 0 | 0 |
Consumer [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 0 | 0 |
Consumer [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | $ 0 | $ 0 |
Loans and Allowance for Loan 36
Loans and Allowance for Loan Losses (Details 3) - USD ($) $ in Thousands | Dec. 31, 2016 | Jun. 30, 2016 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | $ 1,301 | $ 601 |
Current | 107,498 | 100,920 |
Total Loans Receivable | 108,799 | 101,521 |
Total Loans > 90 Days & Accruing | 0 | 0 |
30 to 59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,183 | 515 |
60 to 89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 118 | 86 |
Greater Than 90 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
1-4 Family Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 209 | 222 |
Current | 54,714 | 52,838 |
Total Loans Receivable | 54,923 | 53,060 |
Total Loans > 90 Days & Accruing | 0 | 0 |
1-4 Family Owner Occupied [Member] | 30 to 59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 91 | 136 |
1-4 Family Owner Occupied [Member] | 60 to 89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 118 | 86 |
1-4 Family Owner Occupied [Member] | Greater Than 90 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
1-4 Family Non-Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 36 | 379 |
Current | 12,338 | 11,855 |
Total Loans Receivable | 12,374 | 12,234 |
Total Loans > 90 Days & Accruing | 0 | 0 |
1-4 Family Non-Owner Occupied [Member] | 30 to 59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 36 | 379 |
1-4 Family Non-Owner Occupied [Member] | 60 to 89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
1-4 Family Non-Owner Occupied [Member] | Greater Than 90 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Multi-family residential [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Current | 8,385 | 9,076 |
Total Loans Receivable | 8,385 | 9,076 |
Total Loans > 90 Days & Accruing | 0 | 0 |
Multi-family residential [Member] | 30 to 59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Multi-family residential [Member] | 60 to 89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Multi-family residential [Member] | Greater Than 90 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Commercial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,056 | 0 |
Current | 25,806 | 19,883 |
Total Loans Receivable | 26,862 | 19,883 |
Total Loans > 90 Days & Accruing | 0 | 0 |
Commercial [Member] | 30 to 59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 1,056 | 0 |
Commercial [Member] | 60 to 89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Commercial [Member] | Greater Than 90 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Construction [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Current | 6,023 | 6,720 |
Total Loans Receivable | 6,023 | 6,720 |
Total Loans > 90 Days & Accruing | 0 | 0 |
Construction [Member] | 30 to 59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Construction [Member] | 60 to 89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Construction [Member] | Greater Than 90 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Consumer and other Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Current | 232 | 548 |
Total Loans Receivable | 232 | 548 |
Total Loans > 90 Days & Accruing | 0 | 0 |
Consumer and other Member] | 30 to 59 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Consumer and other Member] | 60 to 89 Days Past Due | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | 0 | 0 |
Consumer and other Member] | Greater Than 90 Days | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Past Due | $ 0 | $ 0 |
Loans and Allowance for Loan 37
Loans and Allowance for Loan Losses (Details 4) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Jun. 30, 2016 | |
Loans with an allowance recorded: | |||||
Allowance for Loan Losses Allocated | $ 99 | $ 99 | $ 188 | ||
Recorded Investment, Total | 1,437 | 1,437 | 1,833 | ||
Unpaid Principal Balance, Total | 1,786 | 1,786 | 2,201 | ||
Average Recorded Investment, Total | 1,447 | $ 1,577 | 1,467 | $ 1,617 | |
Interest Income Recognized, Total | 7 | 8 | 15 | 17 | |
1-4 Family Owner Occupied [Member] | |||||
Loans with no related allowance recorded: | |||||
Recorded Investment | 571 | 571 | 682 | ||
Unpaid Principal Balance | 757 | 757 | 881 | ||
Average Recorded Investment | 575 | 773 | 582 | 805 | |
Interest Income Recognized | 4 | 6 | 10 | 12 | |
Loans with an allowance recorded: | |||||
Recorded Investment | 270 | 270 | 365 | ||
Unpaid Principal Balance | 337 | 337 | 451 | ||
Allowance for Loan Losses Allocated | 44 | 44 | 89 | ||
Average Recorded Investment | 272 | 376 | 277 | 380 | |
Interest Income Recognized | 0 | 0 | 0 | 0 | |
1-4 Family Non-Owner Occupied [Member] | |||||
Loans with no related allowance recorded: | |||||
Recorded Investment | 112 | 112 | 182 | ||
Unpaid Principal Balance | 147 | 147 | 213 | ||
Average Recorded Investment | 113 | 126 | 115 | 128 | |
Interest Income Recognized | 0 | 0 | 0 | 0 | |
Loans with an allowance recorded: | |||||
Recorded Investment | 236 | 236 | 348 | ||
Unpaid Principal Balance | 279 | 279 | 385 | ||
Allowance for Loan Losses Allocated | 33 | 33 | 72 | ||
Average Recorded Investment | 238 | 152 | 241 | 154 | |
Interest Income Recognized | 0 | 0 | 0 | 0 | |
Multi-family residential [Member] | |||||
Loans with no related allowance recorded: | |||||
Recorded Investment | 0 | 0 | 0 | ||
Unpaid Principal Balance | 0 | 0 | 0 | ||
Average Recorded Investment | 0 | 0 | 0 | 0 | |
Interest Income Recognized | 0 | 0 | 0 | 0 | |
Loans with an allowance recorded: | |||||
Recorded Investment | 107 | 107 | 111 | ||
Unpaid Principal Balance | 110 | 110 | 111 | ||
Allowance for Loan Losses Allocated | 22 | 22 | 27 | ||
Average Recorded Investment | 107 | 0 | 109 | 0 | |
Interest Income Recognized | 0 | 0 | 0 | 0 | |
Commercial [Member] | |||||
Loans with no related allowance recorded: | |||||
Recorded Investment | 141 | 141 | 145 | ||
Unpaid Principal Balance | 156 | 156 | 160 | ||
Average Recorded Investment | 142 | 150 | 143 | 150 | |
Interest Income Recognized | 3 | 2 | 5 | 5 | |
Loans with an allowance recorded: | |||||
Recorded Investment | 0 | 0 | 0 | ||
Unpaid Principal Balance | 0 | 0 | 0 | ||
Allowance for Loan Losses Allocated | 0 | 0 | 0 | ||
Average Recorded Investment | 0 | 0 | 0 | 0 | |
Interest Income Recognized | 0 | 0 | 0 | 0 | |
Construction [Member] | |||||
Loans with no related allowance recorded: | |||||
Recorded Investment | 0 | 0 | 0 | ||
Unpaid Principal Balance | 0 | 0 | 0 | ||
Average Recorded Investment | 0 | 0 | 0 | 0 | |
Interest Income Recognized | 0 | 0 | 0 | 0 | |
Loans with an allowance recorded: | |||||
Recorded Investment | 0 | 0 | 0 | ||
Unpaid Principal Balance | 0 | 0 | 0 | ||
Allowance for Loan Losses Allocated | 0 | 0 | 0 | ||
Average Recorded Investment | 0 | 0 | 0 | 0 | |
Interest Income Recognized | 0 | 0 | 0 | 0 | |
Consumer and other [Member] | |||||
Loans with no related allowance recorded: | |||||
Recorded Investment | 0 | 0 | 0 | ||
Unpaid Principal Balance | 0 | 0 | 0 | ||
Average Recorded Investment | 0 | 0 | 0 | 0 | |
Interest Income Recognized | 0 | 0 | 0 | 0 | |
Loans with an allowance recorded: | |||||
Recorded Investment | 0 | 0 | 0 | ||
Unpaid Principal Balance | 0 | 0 | 0 | ||
Allowance for Loan Losses Allocated | 0 | 0 | $ 0 | ||
Average Recorded Investment | 0 | 0 | 0 | 0 | |
Interest Income Recognized | $ 0 | $ 0 | $ 0 | $ 0 |
Loans and Allowance for Loan 38
Loans and Allowance for Loan Losses (Details 5) - USD ($) $ in Thousands | Dec. 31, 2016 | Jun. 30, 2016 |
Nonaccrual Loans [Line Items] | ||
Nonaccrual loans | $ 908 | $ 1,209 |
1-4 Family Owner Occupied [Member] | ||
Nonaccrual Loans [Line Items] | ||
Nonaccrual loans | 453 | 568 |
1-4 Family Non-Owner Occupied [Member] | ||
Nonaccrual Loans [Line Items] | ||
Nonaccrual loans | 348 | 530 |
Multi-family residential [Member] | ||
Nonaccrual Loans [Line Items] | ||
Nonaccrual loans | 107 | 111 |
Commercial [Member] | ||
Nonaccrual Loans [Line Items] | ||
Nonaccrual loans | 0 | 0 |
Construction [Member] | ||
Nonaccrual Loans [Line Items] | ||
Nonaccrual loans | 0 | 0 |
Consumer and other Member] | ||
Nonaccrual Loans [Line Items] | ||
Nonaccrual loans | $ 0 | $ 0 |
Loans and Allowance for Loan 39
Loans and Allowance for Loan Losses (Details Textual) - USD ($) | Dec. 31, 2016 | Jun. 30, 2016 |
Loans and Leases Receivable, Gross | $ 108,799,000 | $ 101,521,000 |
Financing Receivable, Modifications, Recorded Investment | 1,300,000 | 1,300,000 |
Allowance for Credit Losses, Change in Method of Calculating Impairment | 42,000 | 58,000 |
Residential Portfolio Segment [Member] | ||
Loans and Leases Receivable, Gross | $ 7,600,000 | $ 6,500,000 |
Regulatory Matters (Details)
Regulatory Matters (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Jun. 30, 2016 |
Total Capital (to Risk-Weighted Assets) | ||
Actual Amount | $ 15,787 | $ 15,250 |
Actual Ratio | 18.10% | 19.70% |
For Capital Adequacy Purposes Amount | $ 6,994 | $ 6,204 |
For Capital Adequacy Purposes Ratio | 8.00% | 8.00% |
To Be Well Capitalized Under Prompt Corrective Action Provisions Amount | $ 8,742 | $ 7,756 |
To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio | 10.00% | 10.00% |
Tier I Capital (to Risk-Weighted Assets) | ||
Actual Amount | $ 14,685 | $ 14,269 |
Actual Ratio | 16.80% | 18.40% |
For Capital Adequacy Purposes Amount | $ 5,245 | $ 4,653 |
For Capital Adequacy Purposes Ratio | 6.00% | 6.00% |
To Be Well Capitalized Under Prompt Corrective Action Provisions Amount | $ 6,994 | $ 6,204 |
To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio | 8.00% | 8.00% |
Common Equity (to Risk-Weighted Assets) | ||
Actual Amount | $ 14,685 | $ 14,269 |
Actual Ratio | 16.80% | 18.40% |
For Capital Adequacy Purposes Amount | $ 3,934 | $ 3,490 |
For Capital Adequacy Purposes Ratio | 4.50% | 4.50% |
To Be Well Capitalized Under Prompt Corrective Action Provisions Amount | $ 5,682 | $ 5,041 |
To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio | 6.50% | 6.50% |
Tier I Capital (to Average Assets) | ||
Actual Amount | $ 14,685 | $ 14,269 |
Actual Ratio | 11.70% | 12.10% |
For Capital Adequacy Purposes Amount | $ 5,032 | $ 4,727 |
For Capital Adequacy Purposes Ratio | 4.00% | 4.00% |
To Be Well Capitalized Under Prompt Corrective Action Provisions Amount | $ 6,290 | $ 5,909 |
To Be Well Capitalized Under Prompt Corrective Action Provisions Ratio | 5.00% | 5.00% |
Regulatory Matters (Details Tex
Regulatory Matters (Details Textual) | 6 Months Ended |
Dec. 31, 2016 | |
Higher Risk Weight Percentage | 150.00% |
Capital Conservation Buffer Percentage | 2.50% |
Disclosures about Fair Value 42
Disclosures about Fair Value of Assets and Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Jun. 30, 2016 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value, Recurring | $ 3,525 | |
Mortgage-backed securities of U.S. government sponsored entities - residential [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value, Recurring | 3,429 | $ 3,465 |
U. S. Government agency bonds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value, Recurring | 96 | |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value, Recurring | 0 | |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Mortgage-backed securities of U.S. government sponsored entities - residential [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value, Recurring | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | U. S. Government agency bonds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value, Recurring | 0 | |
Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value, Recurring | 3,525 | |
Significant Other Observable Inputs (Level 2) [Member] | Mortgage-backed securities of U.S. government sponsored entities - residential [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value, Recurring | 3,429 | 3,465 |
Significant Other Observable Inputs (Level 2) [Member] | U. S. Government agency bonds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value, Recurring | 96 | |
Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value, Recurring | 0 | |
Significant Unobservable Inputs (Level 3) [Member] | Mortgage-backed securities of U.S. government sponsored entities - residential [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value, Recurring | 0 | $ 0 |
Significant Unobservable Inputs (Level 3) [Member] | U. S. Government agency bonds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value, Recurring | $ 0 |
Disclosures about Fair Value 43
Disclosures about Fair Value of Assets and Liabilities (Details 1) - Impaired Loans [Member] $ in Thousands | Jun. 30, 2016USD ($) |
1-4 Family Owner Occupied [Member] | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Assets, Fair Value, Nonrecurring | $ 276 |
1-4 Family Non-Owner Occupied [Member] | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Assets, Fair Value, Nonrecurring | 360 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | 1-4 Family Owner Occupied [Member] | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Assets, Fair Value, Nonrecurring | 0 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | 1-4 Family Non-Owner Occupied [Member] | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Assets, Fair Value, Nonrecurring | 0 |
Significant Other Observable Inputs (Level 2) [Member] | 1-4 Family Owner Occupied [Member] | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Assets, Fair Value, Nonrecurring | 0 |
Significant Other Observable Inputs (Level 2) [Member] | 1-4 Family Non-Owner Occupied [Member] | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Assets, Fair Value, Nonrecurring | 0 |
Significant Unobservable Inputs (Level 3) [Member] | 1-4 Family Owner Occupied [Member] | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Assets, Fair Value, Nonrecurring | 276 |
Significant Unobservable Inputs (Level 3) [Member] | 1-4 Family Non-Owner Occupied [Member] | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Assets, Fair Value, Nonrecurring | $ 360 |
Disclosures about Fair Value 44
Disclosures about Fair Value of Assets and Liabilities (Details 2) - Impaired Loans [Member] $ in Thousands | 12 Months Ended |
Jun. 30, 2016USD ($) | |
1-4 Family Owner Occupied [Member] | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Assets, Fair Value, Nonrecurring | $ 276 |
Fair Value Measurements, Valuation Techniques | Sales comparison approach |
Fair Value Measurements, Unobservable Inputs | Adjustment for differences between the comparable real estate sales |
Fair Value Measurements, Range | 10.00% |
1-4 Family Non-Owner Occupied [Member] | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Assets, Fair Value, Nonrecurring | $ 360 |
Fair Value Measurements, Valuation Techniques | Sales comparison approach |
Fair Value Measurements, Unobservable Inputs | Adjustment for differences between the comparable real estate sales |
Fair Value Measurements, Range | 10.00% |
Disclosures about Fair Value 45
Disclosures about Fair Value of Assets and Liabilities (Details 3) - USD ($) $ in Thousands | Dec. 31, 2016 | Jun. 30, 2016 |
Financial assets | ||
Cash and cash equivalents | $ 9,456 | $ 3,672 |
Interest-bearing time deposits | 100 | 2,100 |
Held-to-maturity securities | 351 | 996 |
Loans and loans held for sale | 107,042 | 102,480 |
Federal Home Loan Bank stock | 0 | 0 |
Accrued interest receivable | 365 | 292 |
Financial liabilities | ||
Deposits | 85,199 | 77,594 |
Federal Home Loan Bank advances | 26,927 | 25,445 |
Accrued interest payable | 37 | 33 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Financial assets | ||
Cash and cash equivalents | 9,456 | 3,672 |
Interest-bearing time deposits | 100 | 2,100 |
Held-to-maturity securities | 0 | 0 |
Loans and loans held for sale | 0 | 0 |
Federal Home Loan Bank stock | 0 | 0 |
Accrued interest receivable | 0 | 0 |
Financial liabilities | ||
Deposits | 50,587 | 37,010 |
Federal Home Loan Bank advances | 0 | 0 |
Accrued interest payable | 0 | 0 |
Significant Other Observable Inputs (Level 2) [Member] | ||
Financial assets | ||
Cash and cash equivalents | 0 | 0 |
Interest-bearing time deposits | 0 | 0 |
Held-to-maturity securities | 351 | 996 |
Loans and loans held for sale | 0 | 0 |
Federal Home Loan Bank stock | 0 | 0 |
Accrued interest receivable | 365 | 292 |
Financial liabilities | ||
Deposits | 34,612 | 40,584 |
Federal Home Loan Bank advances | 26,927 | 25,445 |
Accrued interest payable | 37 | 33 |
Significant Unobservable Inputs (Level 3) [Member] | ||
Financial assets | ||
Cash and cash equivalents | 0 | 0 |
Interest-bearing time deposits | 0 | 0 |
Held-to-maturity securities | 0 | 0 |
Loans and loans held for sale | 107,042 | 102,480 |
Federal Home Loan Bank stock | 0 | 0 |
Accrued interest receivable | 0 | 0 |
Financial liabilities | ||
Deposits | 0 | |
Federal Home Loan Bank advances | 0 | 0 |
Accrued interest payable | 0 | 0 |
Carrying Amount [Member] | ||
Financial assets | ||
Cash and cash equivalents | 9,456 | 3,672 |
Interest-bearing time deposits | 100 | 2,100 |
Held-to-maturity securities | 349 | 986 |
Loans and loans held for sale | 107,314 | 101,709 |
Federal Home Loan Bank stock | 1,192 | 1,192 |
Accrued interest receivable | 365 | 292 |
Financial liabilities | ||
Deposits | 85,088 | 77,214 |
Federal Home Loan Bank advances | 26,286 | 25,319 |
Accrued interest payable | $ 37 | $ 33 |
Accumulated Other Comprehensi46
Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Balance | $ (89) | $ (99) | $ (79) | $ (91) |
Other comprehensive income (loss), net of tax | (49) | (11) | (59) | (19) |
Balance | (138) | (110) | (138) | (110) |
Unrealized gains and losses on available for sale securities [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Balance | (78) | (81) | (67) | (73) |
Other comprehensive income (loss), net of tax | (53) | (11) | (64) | (19) |
Balance | (131) | (92) | (131) | (92) |
Unrealized gains and losses on securities transferred from available for sale to held to maturity [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Balance | (11) | (18) | (12) | (18) |
Other comprehensive income (loss), net of tax | 4 | 0 | 5 | 0 |
Balance | $ (7) | $ (18) | $ (7) | $ (18) |
Earnings Per Share (Details)
Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | |
Net income | $ 124 | $ 23 | $ 197 | $ 70 |
Weighted Average Number of Shares Outstanding, Basic | 818,927 | 806,108 | 818,405 | 806,089 |
Weighted Average Number of Shares Outstanding, Diluted | 827,667 | 806,108 | 825,772 | 806,089 |
Earnings Per Share, Basic | $ 0.15 | $ 0.03 | $ 0.24 | $ 0.09 |
Earnings Per Share, Diluted | $ 0.15 | $ 0.03 | $ 0.24 | $ 0.09 |
Employee Stock Option [Member] | ||||
Effect of dilutive securities | 4,385 | 3,717 | ||
Restricted Stock [Member] | ||||
Effect of dilutive securities | 4,355 | 3,650 |
Earnings Per Share (Details Tex
Earnings Per Share (Details Textual) - $ / shares | 3 Months Ended | 6 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2015 | Dec. 31, 2016 | Jun. 30, 2016 | |
Earnings Per Share [Line Items] | ||||
Earnings Per Share, Basic and Diluted, Total | $ 0.03 | $ 0.09 | ||
Common Stock, Shares, Issued | 876,163 | 876,163 | 905,473 | 904,973 |
Employee Stock Ownership Plan ESOP Number Of Unallocated Shares | 70,055 | 70,074 |
Employee Stock Ownership Plan49
Employee Stock Ownership Plan (Details) - shares shares in Thousands | 6 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Beginning balance (in shares) | 66,589 | 70,093 |
New share purchases (in shares) | 0 | 0 |
Shares released to participants (in shares) | 0 | 0 |
Shares allocated to participants (in shares) | (3,928) | (3,504) |
Ending balance (in shares) | 62,661 | 66,589 |
Employee Stock Ownership Plan50
Employee Stock Ownership Plan (Details Textual) - USD ($) $ / shares in Units, shares in Thousands | 3 Months Ended | 6 Months Ended | |||||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | Jan. 29, 2015 | |
Employee Stock Ownership Plan (ESOP), Compensation Expense | $ 21,000 | $ 15,000 | $ 35,000 | $ 28,000 | |||
Employee Stock Ownership Plan (ESOP), Weighted Average Purchase Price of Shares Purchased | $ 10 | ||||||
Employee Stock Ownership Plan (ESOP), Deferred Shares, Fair Value | $ 1,200,000 | $ 1,200,000 | |||||
Sale of Stock, Price Per Share | $ 10 | ||||||
Employee Stock Ownership Plan (ESOP), Shares in ESOP | 62,661 | 66,589 | 62,661 | 66,589 | 66,589 | 70,093 | |
Common Stock [Member] | |||||||
Sale of Stock, Price Per Share | $ 18.88 | $ 18.88 |
Equity Incentive Plan (Details
Equity Incentive Plan (Details Textual) - USD ($) | 1 Months Ended | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2016 | May 31, 2016 | Apr. 30, 2016 | Dec. 31, 2016 | Dec. 31, 2016 | |
Share Price | $ 10 | $ 10 | |||
Restricted Stock [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Shares Issued in Period | 500 | ||||
Restricted Stock [Member] | Minimum [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | ||||
Restricted Stock [Member] | Maximum [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 7 years | ||||
Equity Incentive Plan 2016 [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 122,662 | ||||
Share-based Compensation | $ 31,000 | $ 61,000 | |||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ 650,000 | $ 650,000 | |||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 6 years | ||||
Equity Incentive Plan 2016 [Member] | Management [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 60,150 | ||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ 14.88 | ||||
Share Price | $ 4.67 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate | 19.46% | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 1.81% | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 0.00% | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | ||||
Equity Incentive Plan 2016 [Member] | Employee Stock Option [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Shares Issued in Period | 87,616 | ||||
Equity Incentive Plan 2016 [Member] | Restricted Stock [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Shares Issued in Period | 35,046 | ||||
Equity Incentive Plan 2016 [Member] | Restricted Stock [Member] | Management [Member] | |||||
Stock Issued During Period, Shares, Restricted Stock Award, Gross | 28,810 |
Change in Corporate Form (Detai
Change in Corporate Form (Details Textual) $ / shares in Units, $ in Millions | 1 Months Ended |
Jan. 29, 2015USD ($)$ / shares | |
Change In Corporate Form [Line Items] | |
Sale of Stock, Price Per Share | $ / shares | $ 10 |
Sale of Stock, Percentage of Ownership after Transaction | 8.00% |
Escrow Deposit | $ | $ 8.8 |