Document and Entity Information
Document and Entity Information - shares | 3 Months Ended | |
Sep. 30, 2015 | Nov. 06, 2015 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Sep. 30, 2015 | |
Document Fiscal Year Focus | 2,016 | |
Document Fiscal Period Focus | Q1 | |
Trading Symbol | KRNY | |
Entity Registrant Name | Kearny Financial Corp. | |
Entity Central Index Key | 1,617,242 | |
Current Fiscal Year End Date | --06-30 | |
Entity Filer Category | Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 93,528,092 |
CONSOLIDATED STATEMENTS OF FINA
CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($) $ in Thousands | Sep. 30, 2015 | Jun. 30, 2015 |
Assets | ||
Cash and amounts due from depository institutions | $ 19,379 | $ 15,529 |
Interest-bearing deposits in other banks | 83,251 | 324,607 |
Cash and cash equivalents | 102,630 | 340,136 |
Debt securities available for sale (amortized cost $422,789 and $422,903) | 416,470 | 420,660 |
Mortgage-backed securities available for sale (amortized cost $324,589 and $344,523) | 329,310 | 346,619 |
Securities available for sale | 745,780 | 767,279 |
Debt securities held to maturity (fair value $228,757 and $218,366) | 228,597 | 219,862 |
Mortgage-backed securities held to maturity (fair value $436,762 and $445,501) | 429,912 | 443,479 |
Securities held to maturity | 658,509 | 663,341 |
Loans receivable, including unamortized yield adjustments of $2,580 and $316 | 2,417,512 | 2,102,864 |
Less allowance for loan losses | (17,690) | (15,606) |
Net loans receivable | 2,399,822 | 2,087,258 |
Premises and equipment | 39,256 | 39,180 |
Federal Home Loan Bank of New York ("FHLB") stock | 29,717 | 27,468 |
Accrued interest receivable | 11,058 | 9,873 |
Goodwill | 108,591 | 108,591 |
Bank owned life insurance | 171,842 | 170,452 |
Deferred income tax assets, net | 22,316 | 17,827 |
Other assets | 12,420 | 5,782 |
Total Assets | 4,301,941 | 4,237,187 |
Liabilities | ||
Deposits: Non-interest-bearing | 227,941 | 218,533 |
Deposits: Interest-bearing | 2,235,949 | 2,247,117 |
Total deposits | 2,463,890 | 2,465,650 |
Borrowings | 628,351 | 571,499 |
Advance payments by borrowers for taxes | 9,292 | 9,043 |
Other liabilities | 36,798 | 23,620 |
Total Liabilities | $ 3,138,331 | $ 3,069,812 |
Stockholders' Equity | ||
Preferred stock, $0.01 par value, 100,000,000 shares authorized; none issued and outstanding | ||
Common stock, $0.01 par value; 800,000,000 shares authorized; 93,528,092 shares issued and outstanding | $ 935 | $ 935 |
Paid-in capital | 870,701 | 870,480 |
Retained earnings | 343,335 | 342,148 |
Unearned employee stock ownership plan shares; 3,913,601 shares and 3,963,776 shares, respectively | (37,940) | (38,427) |
Accumulated other comprehensive loss | (13,421) | (7,761) |
Total Stockholders' Equity | 1,163,610 | 1,167,375 |
Total Liabilities and Stockholders' Equity | $ 4,301,941 | $ 4,237,187 |
CONSOLIDATED STATEMENTS OF FIN3
CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Parenthetical) - USD ($) $ in Thousands | Sep. 30, 2015 | Jun. 30, 2015 |
Statement Of Financial Position [Abstract] | ||
Securities available for sale, Amortized cost | $ 422,789 | $ 422,903 |
Mortgage-backed securities available for sale, amortized cost | 324,589 | 344,523 |
Securities held to maturity, estimated fair value | 228,757 | 218,366 |
Mortgage-backed securities held to maturity, fair value disclosure | 436,762 | 445,501 |
Loans receivable, unamortized yield adjustments | $ 2,580 | $ 316 |
Preferred stock, par value | $ 0.01 | $ 0.01 |
Preferred stock, shares authorized | 100,000,000 | 100,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value | $ 0.01 | $ 0.01 |
Common stock, shares authorized | 800,000,000 | 800,000,000 |
Common stock, shares issued | 93,528,092 | 93,528,092 |
Common stock, shares outstanding | 93,528,092 | 93,528,092 |
Employee Stock Ownership Plan (ESOP), Number of Suspense Shares | 3,913,601 | 3,963,776 |
CONSOLIDATED STATEMENTS OF INCO
CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
Interest Income | ||
Loans | $ 22,032 | $ 18,405 |
Mortgage-backed securities | 4,514 | 4,776 |
Debt securities: | ||
Taxable | 1,896 | 1,735 |
Tax-exempt | 534 | 485 |
Other interest-earning assets | 439 | 297 |
Total Interest Income | 29,415 | 25,698 |
Interest Expense | ||
Deposits | 4,072 | 3,846 |
Borrowings | 2,987 | 2,327 |
Total Interest Expense | 7,059 | 6,173 |
Net Interest Income | 22,356 | 19,525 |
Provision for Loan Losses | 2,641 | 858 |
Net Interest Income after Provision for Loan Losses | 19,715 | 18,667 |
Non-Interest Income | ||
Fees and service charges | 673 | 699 |
Gain on sale of loans | 72 | |
Loss on sale and write down of real estate owned | (151) | |
Income from bank owned life insurance | 1,390 | 652 |
Electronic banking fees and charges | 286 | 284 |
Miscellaneous | 72 | 96 |
Total Non-Interest Income | 2,493 | 1,580 |
Non-Interest Expense | ||
Salaries and employee benefits | 10,625 | 10,076 |
Net occupancy expense of premises | 1,909 | 1,642 |
Equipment and systems | 1,978 | 1,930 |
Advertising and marketing | 428 | 148 |
Federal deposit insurance premium | 662 | 589 |
Directors' compensation | 182 | 196 |
Miscellaneous | 2,598 | 2,190 |
Total Non-Interest Expense | 18,382 | 16,771 |
Income before Income Taxes | 3,826 | 3,476 |
Income taxes | 850 | 553 |
Net Income | $ 2,976 | $ 2,923 |
Net Income per Common Share (EPS) | ||
Basic | $ 0.03 | $ 0.03 |
Diluted | $ 0.03 | $ 0.03 |
Weighted Average Number of Common Shares Outstanding | ||
Basic | 89,590 | 92,452 |
Diluted | 89,619 | 92,999 |
Dividends Declared Per Common Share | $ 0.02 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME - USD ($) $ in Thousands | 3 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
Statement Of Income And Comprehensive Income [Abstract] | ||
Net Income | $ 2,976 | $ 2,923 |
Other Comprehensive Loss: | ||
Net unrealized loss on securities available for sale, net of deferred income tax benefit of: 2015 $(768); 2014 $(1,041) | (683) | (2,030) |
Net (loss) gain on securities transferred from available for sale to held to maturity, net of deferred income tax (benefit) expense of: 2015 $(13); 2014 $0 | (17) | 2 |
Fair value adjustments on derivatives, net of deferred income tax (benefit) expense of: 2015 $(3,060); 2014 $1,189 | (4,432) | 1,722 |
Benefit plan adjustments, net of deferred income tax benefit of: 2015 $(366); 2014 $(140) | (528) | (204) |
Total Other Comprehensive Loss | (5,660) | (510) |
Total Comprehensive (Loss) Income | $ (2,684) | $ 2,413 |
CONSOLIDATED STATEMENTS OF COM6
CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
Statement Of Income And Comprehensive Income [Abstract] | ||
Deferred income tax benefit, Unrealized loss on securities available for sale arising during the period | $ (768) | $ (1,041) |
Deferred income tax (benefit) expense, Net (loss) gain on securities transferred from available for sale to held to maturity | (13) | 0 |
Deferred income tax (benefit) expense, Fair value adjustments on derivatives | (3,060) | 1,189 |
Deferred tax benefit, Benefit plans | $ (366) | $ (140) |
CONSOLIDATED STATEMENTS OF CHAN
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) $ in Thousands | Total | Common Stock Outstanding [Member] | Paid-in Capital [Member] | Retained Earnings [Member] | Unearned ESOP Shares [Member] | Treasury Stock [Member] | Accumulated Other Comprehensive Loss [Member] |
Balance (in value) at Jun. 30, 2014 | $ 494,676 | $ 7,378 | $ 231,870 | $ 336,355 | $ (3,879) | $ (74,768) | $ (2,280) |
Balance (in shares) at Jun. 30, 2014 | 92,856,000 | ||||||
Net Income | 2,923 | 2,923 | |||||
Other comprehensive income (loss), net of income tax benefit | (510) | (510) | |||||
ESOP shares committed to be released | 547 | 184 | 363 | ||||
Stock option expense | 50 | 50 | |||||
Treasury stock reissued for stock option exercises (in value) | 1,365 | 132 | 1,233 | ||||
Treasury stock reissued for stock option exercises (in shares) | 148,000 | ||||||
Restricted stock plan shares earned (in value) | 82 | 82 | |||||
Settlement of stock options with cash in lieu of shares, value | (7,188) | (7,188) | |||||
Balance (in value) at Sep. 30, 2014 | 491,945 | $ 7,378 | 225,130 | 339,278 | (3,516) | $ (73,535) | (2,790) |
Balance (in shares) at Sep. 30, 2014 | 93,004,000 | ||||||
Balance (in value) at Jun. 30, 2015 | $ 1,167,375 | $ 935 | 870,480 | 342,148 | (38,427) | (7,761) | |
Balance (in shares) at Jun. 30, 2015 | 93,528,092 | 93,528,000 | |||||
Net Income | $ 2,976 | 2,976 | |||||
Other comprehensive income (loss), net of income tax benefit | (5,660) | (5,660) | |||||
ESOP shares committed to be released | 574 | 87 | 487 | ||||
Stock option expense | 53 | 53 | |||||
Restricted stock plan shares earned (in value) | 81 | 81 | |||||
Balance (in value) at Sep. 30, 2015 | $ 1,163,610 | $ 935 | $ 870,701 | 343,335 | $ (37,940) | $ (13,421) | |
Balance (in shares) at Sep. 30, 2015 | 93,528,092 | 93,528,000 | |||||
Cash dividend declared | $ (1,789) | $ (1,789) |
CONSOLIDATED STATEMENTS OF CHA8
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares shares in Thousands | 3 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
Statement Of Stockholders Equity [Abstract] | ||
ESOP shares committed to be released, shares | 50 | 50 |
Restricted stock plan shares earned, shares | 9 | 10 |
Dividends Declared Per Common Share | $ 0.02 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 3 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
Cash Flows from Operating Activities: | ||
Net Income | $ 2,976 | $ 2,923 |
Adjustment to reconcile net income to net cash provided by operating activities: | ||
Depreciation and amortization of premises and equipment | 736 | 752 |
Net amortization of premiums, discounts and loan fees and costs | 1,117 | 593 |
Deferred income taxes | (282) | 2,339 |
Amortization of intangible assets | 43 | 28 |
Amortization of benefit plans’ unrecognized net (gain) loss | (458) | 20 |
Provision for Loan Losses | 2,641 | 858 |
Loss on write-down and sales of real estate owned | 151 | |
Realized gain on sale of loans | (72) | |
Proceeds from sale of loans | 878 | |
Realized gain on disposition of premises and equipment | (14) | (25) |
Increase in cash surrender value of bank owned life insurance | (1,390) | (652) |
ESOP, stock option plan and restricted stock plan expenses | 708 | 679 |
Increase in interest receivable | (1,185) | (294) |
Increase in other assets | (13,448) | (3,650) |
Increase in interest payable | 92 | 54 |
Increase in other liabilities | 12,654 | 1,752 |
Net Cash Provided by Operating Activities | 4,996 | 5,528 |
Cash Flows from Investing Activities: | ||
Purchase of debt securities available for sale | (3,968) | |
Proceeds from repayments of debt securities available for sale | 141 | 43 |
Principal repayments on mortgage-backed securities available for sale | 19,591 | 19,144 |
Purchase of debt securities held to maturity | (9,140) | (350) |
Proceeds from repayments of debt securities held to maturity | 350 | 1,257 |
Purchases of mortgage-backed securities held to maturity | (16,695) | |
Principal repayments on mortgage-backed securities held to maturity | 12,964 | 3,202 |
Purchase of loans | (303,549) | (12,868) |
Net increase in loans receivable | (13,389) | (17,667) |
Proceeds from sale of real estate owned | 17 | |
Additions to premises and equipment | (812) | (457) |
Proceeds from cash settlement of premises and equipment | 14 | 44 |
Purchase of FHLB stock | (2,475) | (6,480) |
Redemption of FHLB stock | 226 | 5,087 |
Net Cash Used in Investing Activities | (296,079) | (29,691) |
Cash Flows from Financing Activities: | ||
Net decrease in deposits | (1,740) | (30,568) |
Repayment of term FHLB advances | (375,024) | (303,023) |
Proceeds from term FHLB advances | 425,000 | 375,000 |
Net change in overnight borrowings | (17,000) | |
Increase (decrease) in other short-term borrowings | 6,881 | (2,369) |
Increase (decrease) in advance payments by borrowers for taxes | 249 | (302) |
Issuance of common stock of Kearny Financial Corp. from treasury | 1,365 | |
Cash dividends paid | (1,789) | |
Payment of cash for exercise of stock options | (7,188) | |
Net Cash Provided by Financing Activities | 53,577 | 15,915 |
Net Decrease in Cash and Cash Equivalents | (237,506) | (8,248) |
Cash and Cash Equivalents - Beginning | 340,136 | 135,034 |
Cash and Cash Equivalents - Ending | 102,630 | 126,786 |
Cash paid during the year for: | ||
Income taxes, net of refunds | 1,656 | 1,000 |
Interest | 6,967 | 6,119 |
Non-cash investing and financing activities: | ||
Acquisition of real estate owned in settlement of loans | $ 786 | $ 118 |
Principles of Consolidation
Principles of Consolidation | 3 Months Ended |
Sep. 30, 2015 | |
Accounting Policies [Abstract] | |
Principles of Consolidation | 1. PRINCIPLES OF CONSOLIDATION The unaudited consolidated financial statements include the accounts of Kearny Financial Corp. (the “Company”), its wholly-owned subsidiary, Kearny Bank (the “Bank”) and the Bank’s wholly-owned subsidiaries, CJB Investment Corp. and KFS Financial Services, Inc. and its wholly-owned subsidiary, KFS Insurance Services, Inc. The Company conducts its business principally through the Bank. Management prepared the unaudited consolidated financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”), including the elimination of all significant inter-company accounts and transactions during consolidation. |
Basis of Presentation
Basis of Presentation | 3 Months Ended |
Sep. 30, 2015 | |
Accounting Policies [Abstract] | |
Basis of Presentation | 2. BASIS OF PRESENTATION The accompanying unaudited consolidated financial statements were prepared in accordance with instructions for Form 10-Q and Regulation S-X and do not include information or footnotes necessary for a complete presentation of financial condition, income, comprehensive income, changes in stockholders’ equity and cash flows in conformity with GAAP. However, in the opinion of management, all adjustments (consisting of normal recurring adjustments) necessary for a fair presentation of the unaudited consolidated financial statements have been included. The results of operations for the three- month period ended September 30, 2015, are not necessarily indicative of the results that may be expected for the entire fiscal year or any other period. The data in the consolidated statement of financial condition for June 30, 2015 was derived from the Company’s 2015 annual report on Form 10-K. That data, along with the interim unaudited financial information presented in the consolidated statements of financial condition, income, comprehensive income, changes in stockholders’ equity and cash flows should be read in conjunction with the audited consolidated financial statements, including the notes thereto, included in the Company’s 2015 annual report on Form 10-K. |
Net Income Per Common Share ("E
Net Income Per Common Share ("EPS") | 3 Months Ended |
Sep. 30, 2015 | |
Earnings Per Share [Abstract] | |
Net Income Per Common Share (EPS) | 3. NET INCOME PER COMMON SHARE (“EPS”) Basic EPS is based on the weighted average number of common shares actually outstanding including restricted stock awards adjusted for Employee Stock Ownership Plan (“ESOP”) shares not yet committed to be released. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock, such as outstanding stock options, were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the earnings of the Company. Diluted EPS is calculated by adjusting the weighted average number of shares of common stock outstanding to include the effect of contracts or securities exercisable or which could be converted into common stock, if dilutive, using the treasury stock method. Shares issued and reacquired during any period are weighted for the portion of the period they were outstanding. The following is a reconciliation of the numerators and denominators of the basic and diluted earnings per share computations: Three Months Ended September 30, 2015 Income (Numerator) Shares (Denominator) Per Share Amount (In Thousands, Except Per Share Data) Net income $ 2,976 Basic earnings per share, income available to common stockholders $ 2,976 89,590 $ 0.03 Effect of dilutive securities: Stock options - 29 $ 2,976 89,619 $ 0.03 Three Months Ended September 30, 2014 Income (Numerator) Shares (Denominator) Per Share Amount (In Thousands, Except Per Share Data) Net income $ 2,923 Basic earnings per share, income available to common stockholders $ 2,923 92,452 $ 0.03 Effect of dilutive securities: Stock options - 547 $ 2,923 92,999 $ 0.03 During the three months ended September 30, 2015, the average number of options which were considered anti-dilutive totaled approximately 276,080. During the three ended September 30, 2014, the average number of options which were considered anti-dilutive totaled approximately 255,374. |
Subsequent Events
Subsequent Events | 3 Months Ended |
Sep. 30, 2015 | |
Subsequent Events [Abstract] | |
Subsequent Events | 4. SUBSEQUENT EVENTS The Company has evaluated events and transactions occurring subsequent to the statement of financial condition date of September 30, 2015, for items that should potentially be recognized or disclosed in these consolidated financial statements. The evaluation was conducted through the date this document was filed. |
Plan of Conversion and Stock Of
Plan of Conversion and Stock Offering | 3 Months Ended |
Sep. 30, 2015 | |
Plan Of Reorganization [Abstract] | |
Plan of Conversion and Stock Offering | 5. PLAN OF CONVERSION AND STOCK OFFERING On September 4, 2014, the Boards of Directors of Kearny MHC, our prior holding company (also named Kearny Financial Corp.) and the Bank adopted a Plan of Conversion and Reorganization (the “Plan”). Pursuant to the Plan, Kearny MHC would convert from the mutual holding company form of organization to the fully public form. Kearny MHC would be merged into the prior holding company, and Kearny MHC would no longer exist. The prior holding company would then merge into a new Maryland corporation, also named Kearny Financial Corp., which would become the holding company for the Bank. On May 5, 2015, the stockholders of the prior holding company and members of Kearny MHC approved the plan of conversion and reorganization. Additionally, on May 5, 2015, the Company’s stockholders and Kearny MHC’s members each approved the establishment and funding of the KearnyBank Foundation with a contribution of 500,000 shares of New Kearny common stock and $5.0 million in cash. The transactions contemplated by the Plan were also subject to approval by the Board of Governors of the Federal Reserve System, which was received in March 2015. On May 18, 2015, the Company completed its second-step conversion and stock offering as outlined in the Plan described above. In conjunction with that transaction, the Company sold 71,750,000 shares of its common stock at $10.00 per share, resulting in gross proceeds of $717.5 million. The new shares issued included 3,612,500 shares sold to the Bank’s Employee Stock Ownership Plan (“ESOP”) with an aggregate value of $36.1 million based on the sales price of $10.00 per share. Concurrent with the closing of the transaction, the Company also issued an additional 500,000 shares of its common stock with an aggregate value of $5.0 million and contributed these shares with an additional $5.0 million in cash to the KearnyBank Foundation. The Company recognized direct stock offering costs of approximately $10.7 million in conjunction with the transaction which reduced the net proceeds credited to capital. After adjusting for transaction costs and the value of the shares issued to the Bank’s ESOP, the Company recognized a net increase in equity capital of approximately $670.7 million, of which approximately $353.4 million was contributed to the Bank by the Company as an additional investment in the Bank’s common equity. The outstanding shares held by the Company’s public stockholders immediately prior to the closing of the conversion and stock offering were “exchanged” or converted into 1.3804 shares of the Company’s new common stock. All shares previously held by Kearny MHC, the former mutual holding company, as well as the remaining shares previously repurchased by the Company and held in treasury were cancelled concurrent with the closing of the transaction. At September 30, 2015, the Company had 93,528,092 shares outstanding, comprising 71,750,000 new shares sold in the stock offering, 500,000 new shares issued to the KearnyBank Foundation and 21,278,092 exchanged shares, as adjusted for the cash settlement of fractional shares. As a result of the completion of the second-step conversion and stock offering, all historical share and per share information has been revised to reflect the 1.3804-to-one exchange ratio to support the comparability of information between periods. |
Recent Accounting Pronouncement
Recent Accounting Pronouncements | 3 Months Ended |
Sep. 30, 2015 | |
Accounting Changes And Error Corrections [Abstract] | |
Recent Accounting Pronouncements | 6. RECENT ACCOUNTING PRONOUNCEMENTS In January 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-04, Receivables—Troubled Debt Restructurings by Creditors (Subtopic 310-40) Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure. The purpose of the ASU is to reduce diversity in the application of guidance by clarifying when an in substance repossession or foreclosure occurs, that is, when a creditor should be considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan such that the loan receivable should be derecognized and the real estate property recognized. This ASU is effective for public business entities for annual periods, and interim periods within those annual periods, beginning after December 15, 2014. Adoption of the ASU did not have a significant impact on the Company’s consolidated financial statements. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606). The ASU’s core principle is built on the contract between a vendor and a customer for the provision of goods and services. It attempts to depict the exchange of rights and obligations between the parties in the pattern of revenue recognition based on the consideration to which the vendor is entitled. To accomplish this objective, the standard requires five basic steps: i) identify the contract with the customer, (ii) identify the performance obligations in the contract, (iii) determine the transaction price, (iv) allocate the transaction price to the performance obligations in the contract, and (v) recognize revenue when (or as) the entity satisfies a performance obligation. For public entities, the guidance is effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2017. The Company is currently evaluating the impact of adopting this ASU on its consolidated financial statements. In June 2014, the FASB issued ASU 2014-11, Transfers and Servicing (Topic 860) Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures. The purpose of the ASU is to address the concern that current accounting guidance distinguishes between repurchase agreements that settle at the same time as the maturity of the transferred financial asset and those that settle any time before maturity. In particular, repurchase-to-maturity transactions are generally accounted for as sales with forward agreements under current accounting, whereas typical repurchase agreements that settle before the maturity of the transferred financial asset are accounted for as secured borrowings. Additionally, current accounting guidance requires an evaluation of whether an initial transfer of a financial asset and a contemporaneous repurchase agreement (a repurchase financing) should be accounted for separately or linked. If linked, the arrangement is accounted for on a combined basis as a forward agreement. Those outcomes often are referred to as off-balance-sheet accounting. The ASU changes the accounting for repurchase-to-maturity transactions and linked repurchase financings to secured borrowing accounting, which is consistent with the accounting for other repurchase agreements. The amendments also require two new related disclosures. This ASU is effective for public business entities for annual periods, and interim periods within those annual periods, beginning after December 15, 2014. Adoption of the ASU did not have a significant impact on the Company’s consolidated financial statements. In August 2014, the FASB issued ASU 2014-14, Receivables – Troubled Debt Restructurings by Creditors (Subtopic 310-40): Classification of Certain Government-Guaranteed Mortgage Loans upon Foreclosure. The purpose of the ASU is to address a practice issue related to the classification of certain foreclosed residential and nonresidential mortgage loans that are either fully or partially guaranteed under government programs. Specifically, creditors should reclassify loans that meet certain conditions to "other receivables" upon foreclosure, rather than reclassifying them to other real estate owned (OREO). The separate other receivable recorded upon foreclosure is to be measured based on the amount of the loan balance (principal and interest) the creditor expects to recover from the guarantor. The ASU is effective for public business entities for annual periods, and interim periods within those annual periods, beginning after December 15, 2014. Adoption of the ASU did not have a significant impact on the Company’s consolidated financial statements. In August 2015, the FASB issued ASU 2015-15, Interest – Imputation of Interest (Subtopic 835-30): Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements (Amendments to SEC Paragraphs Pursuant to Staff Announcement at June 18, 2015 EITF Meeting). The purpose of the ASU is to codify an SEC staff announcement that entities are permitted to defer and present debt issuance costs related to line-of-credit arrangements as assets. Given the absence of authoritative guidance within Update 2015-03 for debt issuance costs related to line-of-credit arrangements, ASU 2015-15 clarifies that the SEC staff would not object to an entity deferring and presenting debt issuance costs as an asset and subsequently amortizing the deferred debt issuance costs ratably over the term of the line-of-credit arrangement, regardless of whether there are any outstanding borrowings on the line-of-credit arrangement. The ASU was immediately effective upon its announcement and its adoption did not have a significant impact on the Company’s consolidated financial statements. In September 2015, the FASB issued ASU 2015-16, Business Combination (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments. The ASU requires adjustments to provisional amounts that are identified during the measurement period to be recognized in the reporting period in which the adjustment amounts are determined. This includes any effect on earnings of changes in depreciation, amortization, or other income effects as a result of the change to the provisional amounts, calculated as if the accounting had been completed at the acquisition date. In addition, the amendments in the Update would require an entity to disclose (either on the face of the income statement or in the notes) the nature and amount of measurement-period adjustments recognized in the current period, including separately the amounts in current-period income statement line items that would have been recorded in previous reporting periods if the adjustment to the provisional amounts had been recognized as of the acquisition date. The amendments are effective for public business entities for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2015. The Company is currently evaluating the impact of adopting this ASU on its consolidated financial statements. |
Securities Available for Sale
Securities Available for Sale | 3 Months Ended |
Sep. 30, 2015 | |
Securities Available for Sale [Member] | |
Schedule of Available-for-sale Securities [Line Items] | |
Securities | 7. SECURITIES AVAILABLE FOR SALE The amortized cost, gross unrealized gains and losses and fair values of debt and mortgage-backed securities available for sale at September 30, 2015 and June 30, 2015 and stratification by contractual maturity of debt securities available for sale at September 30, 2015 are presented below: September 30, 2015 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In Thousands) Securities available for sale: Debt securities: U.S. agency securities $ 7,063 $ 111 $ 15 $ 7,159 Obligations of state and political subdivisions 27,507 183 224 27,466 Asset-backed securities 87,646 62 2,530 85,178 Collateralized loan obligations 128,633 35 1,256 127,412 Corporate bonds 163,042 117 1,985 161,174 Trust preferred securities 8,898 16 833 8,081 Total debt securities 422,789 524 6,843 416,470 Mortgage-backed securities: Collateralized mortgage obligations: Federal Home Loan Mortgage Corporation 25,776 174 150 25,800 Federal National Mortgage Association 43,867 64 568 43,363 Non-agency securities 151 - 1 150 Total collateralized mortgage obligations 69,794 238 719 69,313 Mortgage pass-through securities: Residential pass-through securities: Government National Mortgage Association 2,290 208 1 2,497 Federal Home Loan Mortgage Corporation 147,342 2,393 242 149,493 Federal National Mortgage Association 95,897 2,756 138 98,515 Total residential pass-through securities 245,529 5,357 381 250,505 Commercial pass-through securities: Federal National Mortgage Association 9,266 226 - 9,492 Total commercial pass-through securities 9,266 226 - 9,492 Total mortgage-backed securities 324,589 5,821 1,100 329,310 Total securities available for sale $ 747,378 $ 6,345 $ 7,943 $ 745,780 September 30, 2015 Amortized Cost Fair Value (In Thousands) Debt securities available for sale: Due in one year or less $ 20,007 $ 20,053 Due after one year through five years 50,778 50,098 Due after five years through ten years 155,585 153,828 Due after ten years 196,419 192,491 Total $ 422,789 $ 416,470 June 30, 2015 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In Thousands) Securities available for sale: Debt securities: U.S. agency securities $ 7,208 $ 66 $ 11 $ 7,263 Obligations of state and political subdivisions 27,513 26 704 26,835 Asset-backed securities 87,614 879 461 88,032 Collateralized loan obligations 128,624 175 628 128,171 Corporate bonds 163,049 433 874 162,608 Trust preferred securities 8,895 16 1,160 7,751 Total debt securities 422,903 1,595 3,838 420,660 Mortgage-backed securities: Collateralized mortgage obligations: Federal Home Loan Mortgage Corporation 27,392 10 324 27,078 Federal National Mortgage Association 45,522 12 900 44,634 Non-agency securities 167 - 2 165 Total collateralized mortgage obligations 73,081 22 1,226 71,877 Mortgage pass-through securities: Residential pass-through securities: Government National Mortgage Association 2,430 225 - 2,655 Federal Home Loan Mortgage Corporation 155,522 2,286 1,358 156,450 Federal National Mortgage Association 102,424 2,749 665 104,508 Total residential pass-through securities 260,376 5,260 2,023 263,613 Commercial pass-through securities: Federal National Mortgage Association 11,066 63 - 11,129 Total commercial pass-through securities 11,066 63 - 11,129 Total mortgage-backed securities 344,523 5,345 3,249 346,619 Total securities available for sale $ 767,426 $ 6,940 $ 7,087 $ 767,279 There were no sales of securities available for sale during the three months ended September 30, 2015 and September 30, 2014. At September 30, 2015 and June 30, 2015, securities available for sale with carrying values of approximately $54.5 million and $58.3 million, respectively, were utilized as collateral for borrowings through the FHLB of New York. As of those same dates, securities available for sale with total carrying values of approximately $1.2 million and $1.4 million, respectively, were pledged to secure public funds on deposit. |
Securities Held to Maturity
Securities Held to Maturity | 3 Months Ended |
Sep. 30, 2015 | |
Securities Held to Maturity [Member] | |
Schedule of Held-to-maturity Securities [Line Items] | |
Securities | 8. SECURITIES HELD TO MATURITY The amortized cost, gross unrealized gains and losses and fair values of debt and mortgage-backed securities held to maturity at September 30, 2015 and June 30, 2015 and stratification by contractual maturity of debt securities held to maturity at September 30, 2015 are presented below: September 30, 2015 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In Thousands) Securities held to maturity: Debt securities: U.S. agency securities $ 143,335 $ 7 $ 40 $ 143,302 Obligations of state and political subdivisions 85,262 502 309 85,455 Total debt securities 228,597 509 349 228,757 Mortgage-backed securities: Collateralized mortgage obligations: Federal Home Loan Mortgage Corporation 14,519 24 2 14,541 Federal National Mortgage Association 212 25 - 237 Non-agency securities 40 - 1 39 Total collateralized mortgage obligations 14,771 49 3 14,817 Mortgage pass-through securities: Residential pass-through securities: Government National Mortgage Association 8 1 - 9 Federal Home Loan Mortgage Corporation 43,746 88 - 43,834 Federal National Mortgage Association 203,664 2,375 30 206,009 Total residential pass-through securities 247,418 2,464 30 249,852 Commercial pass-through securities: Government National Mortgage Association 10,012 89 - 10,101 Federal National Mortgage Association 157,711 4,281 - 161,992 Total commercial pass-through securities 167,723 4,370 - 172,093 Total mortgage-backed securities 429,912 6,883 33 436,762 Total securities held to maturity $ 658,509 $ 7,392 $ 382 $ 665,519 September 30, 2015 Amortized Cost Fair Value (In Thousands) Debt securities held to maturity: Due in one year or less $ 6,356 $ 6,360 Due after one year through five years 154,535 154,490 Due after five years through ten years 41,391 41,539 Due after ten years 26,315 26,368 Total $ 228,597 $ 228,757 June 30, 2015 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In Thousands) Securities held to maturity: Debt securities: U.S. agency securities $ 143,334 $ - $ 332 $ 143,002 Obligations of state and political subdivisions 76,528 26 1,190 75,364 Total debt securities 219,862 26 1,522 218,366 Mortgage-backed securities: Collateralized mortgage obligations: Federal Home Loan Mortgage Corporation 15,121 5 - 15,126 Federal National Mortgage Association 221 24 - 245 Non-agency securities 42 - 1 41 Total collateralized mortgage obligations 15,384 29 1 15,412 Mortgage pass-through securities: Residential pass-through securities: Government National Mortgage Association 8 1 - 9 Federal Home Loan Mortgage Corporation 44,905 16 218 44,703 Federal National Mortgage Association 214,150 1,090 338 214,902 Total residential pass-through securities 259,063 1,107 556 259,614 Commercial pass-through securities: Government National Mortgage Association 10,111 32 - 10,143 Federal National Mortgage Association 158,921 1,639 228 160,332 Total commercial pass-through securities 169,032 1,671 228 170,475 Total mortgage-backed securities 443,479 2,807 785 445,501 Total securities held to maturity $ 663,341 $ 2,833 $ 2,307 $ 663,867 There were no sales of securities held to maturity during the three months ended September 30, 2015 and September 30, 2014. At September 30, 2015 and June 30, 2015, securities held to maturity with carrying values of approximately $126.7 million and $126.9 million, respectively, were utilized as collateral for borrowings from the FHLB of New York. As of those same dates, securities held to maturity with total carrying values of approximately $7.9 million and $7.9 million, respectively, were pledged to secure public funds on deposit. |
Impairment of Securities
Impairment of Securities | 3 Months Ended |
Sep. 30, 2015 | |
Investments Debt And Equity Securities [Abstract] | |
Impairment of Securities | 9. IMPAIRMENT OF SECURITIES The following two tables summarize the fair values and gross unrealized losses within the available for sale and held to maturity portfolios at September 30, 2015 and June 30, 2015. The gross unrealized losses, presented by security type, represent temporary impairments of value within each portfolio as of the dates presented. Temporary impairments within the available for sale portfolio have been recognized through other comprehensive income as reductions in stockholders’ equity on a tax-effected basis. The tables are followed by a discussion that summarizes the Company’s rationale for recognizing impairments, where applicable, as “temporary” versus those identified as “other-than-temporary”. Such rationale is presented by investment type and generally applies consistently to both the “available for sale” and “held to maturity” portfolios, except where specifically noted. September 30, 2015 Less than 12 Months 12 Months or More Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (In Thousands) Securities Available for Sale: U.S. agency securities $ 1,510 $ 10 $ 673 $ 5 $ 2,183 $ 15 Obligations of state and political subdivisions 7,501 123 3,031 101 10,532 224 Asset-backed securities 60,361 1,969 14,685 561 75,046 2,530 Collateralized loan obligations 43,350 405 69,213 851 112,563 1,256 Corporate bonds 24,487 530 93,590 1,455 118,077 1,985 Trust preferred securities - - 7,064 833 7,064 833 Collateralized mortgage obligations - - 50,649 719 50,649 719 Residential pass-through securities 21 1 48,995 380 49,016 381 Total $ 137,230 $ 3,038 $ 287,900 $ 4,905 $ 425,130 $ 7,943 June 30, 2015 Less than 12 Months 12 Months or More Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (In Thousands) Securities Available for Sale: U.S. agency securities $ 1,533 $ 7 $ 695 $ 4 $ 2,228 $ 11 Obligations of state and political subdivisions 20,575 515 2,943 189 23,518 704 Asset-backed securities 23,855 293 20,067 168 43,922 461 Collateralized loan obligations 49,694 117 59,551 511 109,245 628 Corporate bonds 19,880 120 74,295 754 94,175 874 Trust preferred securities - - 6,734 1,160 6,734 1,160 Collateralized mortgage obligations 5,479 29 52,105 1,197 57,584 1,226 Residential pass-through securities 61,896 1,140 50,513 883 112,409 2,023 Total $ 182,912 $ 2,221 $ 266,903 $ 4,866 $ 449,815 $ 7,087 The number of available for sale securities with unrealized losses at September 30, 2015 totaled 90 and included five U.S. agency securities, 29 municipal obligations, seven asset-backed securities, 18 collateralized loan obligations, 12 corporate obligations, four trust preferred securities, six collateralized mortgage obligations and nine residential pass-through securities. The number of available for sale securities with unrealized losses at June 30, 2015 totaled 119 and included five U.S. agency securities, 62 municipal obligations, four asset-backed securities, 16 collateralized loan obligations, seven corporate obligations, four trust preferred securities, eight collateralized mortgage obligations and 13 residential pass-through securities. September 30, 2015 Less than 12 Months 12 Months or More Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (In Thousands) Securities Held to Maturity: U.S. agency securities $ - $ - $ 94,948 $ 40 $ 94,948 $ 40 Obligations of state and political subdivisions 18,363 99 8,097 210 26,460 309 Collateralized mortgage obligations 4,579 2 39 1 4,618 3 Residential pass-through securities 2,031 30 - - 2,031 30 Total $ 24,973 $ 131 $ 103,084 $ 251 $ 128,057 $ 382 June 30, 2015 Less than 12 Months 12 Months or More Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (In Thousands) Securities Held to Maturity: U.S. agency securities $ - $ - $ 143,002 $ 332 $ 143,002 $ 332 Obligations of state and political subdivisions 56,190 840 7,965 350 64,155 1,190 Collateralized mortgage obligations - - 41 1 41 1 Residential pass-through securities 142,789 556 142,789 556 Commercial pass-through securities 18,792 228 - - 18,792 228 Total $ 217,771 $ 1,624 $ 151,008 $ 683 $ 368,779 $ 2,307 The number of held to maturity securities with unrealized losses at September 30, 2015 totaled 72 and included five U.S. agency securities, 61 municipal obligations, five collateralized mortgage obligations, and one residential pass-through security. The number of held to maturity securities with unrealized losses at June 30, 2015 totaled 166 and included seven U.S. agency securities, 136 municipal obligations, four collateralized mortgage obligations, 15 residential pass-through securities and four commercial pass-through securities. In general, if the fair value of a debt security is less than its amortized cost basis at the time of evaluation, the security is “impaired” and the impairment is to be evaluated to determine if it is other than temporary. The Company evaluates the impaired securities in its portfolio for possible other than temporary impairment (OTTI) on at least a quarterly basis. The following represents the circumstances under which an impaired security is determined to be other than temporarily impaired: · When the Company intends to sell the impaired debt security; · When the Company more likely than not will be required to sell the impaired debt security before recovery of its amortized cost (for example, whether liquidity requirements or contractual or regulatory obligations indicate that the security will be required to be sold before a forecasted recovery occurs); or · When an impaired debt security does not meet either of the two conditions above, but the Company does not expect to recover the entire amortized cost of the security. According to applicable accounting guidance for debt securities, this is generally when the present value of cash flows expected to be collected is less than the amortized cost of the security. In the first two circumstances noted above, the amount of OTTI recognized in earnings is the entire difference between the security’s amortized cost basis and its fair value at the balance sheet date. In the third circumstance, however, the OTTI is to be separated into the amount representing the credit loss from the amount related to all other factors. The credit loss component is to be recognized in earnings while the non-credit loss component is to be recognized in other comprehensive income. In these cases, OTTI is generally predicated on an adverse change in cash flows (e.g. principal and/or interest payment deferrals or losses) versus those expected at the time of purchase. The absence of an adverse change in expected cash flows generally indicates that a security’s impairment is related to other “non-credit loss” factors and is thereby generally not recognized as OTTI. The Company considers a variety of factors when determining whether a credit loss exists for an impaired security including, but not limited to: · The length of time and the extent (a percentage) to which the fair value has been less than the amortized cost basis; · Adverse conditions specifically related to the security, an industry, or a geographic area (e.g. changes in the financial condition of the issuer of the security, or in the case of an asset backed debt security, in the financial condition of the underlying loan obligors, including changes in technology or the discontinuance of a segment of the business that may affect the future earnings potential of the issuer or underlying loan obligors of the security or changes in the quality of the credit enhancement); · The historical and implied volatility of the fair value of the security; · The payment structure of the debt security; · Actual or expected failure of the issuer of the security to make scheduled interest or principal payments; · Changes to the rating of the security by external rating agencies; and · Recoveries or additional declines in fair value subsequent to the balance sheet date. At September 30, 2015 and June 30, 2015, the Company held no securities on which credit-related OTTI had been recognized in earnings. The following discussion summarizes the Company’s rationale for recognizing the impairments reported in the tables above as “temporary” versus “other-than-temporary”. Such rationale is presented by investment type and generally applies consistently to both the available for sale and held to maturity portfolios, except where specifically noted. Mortgage-backed Securities. The carrying value of the Company’s mortgage-backed securities totaled $759.2 million at September 30, 2015 and comprised 54.1% of total investments and 17.6% of total assets as of that date. This category of securities primarily includes mortgage pass-through securities and collateralized mortgage obligations issued by U.S. government agencies and/or GSEs such as Ginnie Mae, Fannie Mae and Freddie Mac who guarantee the contractual cash flows associated with those securities. Those guarantees were strengthened during the 2008-2009 financial crisis at which time Fannie Mae and Freddie Mac were placed into receivership by the federal government. Through those actions, the U.S. government effectively reinforced the guarantees of their agencies thereby strengthening the creditworthiness of the mortgage-backed securities issued by those agencies. With credit risk being reduced to negligible levels due primarily to the U.S. government’s support of most of these agencies, the unrealized losses on the Company’s investment in U.S. agency mortgage-backed securities are due largely to the combined effects of several market-related factors including, most notably, changes in market interest rates. In general, the fair value of certain debt securities, including the Company’s mortgage-backed securities, move inversely with changes in market interest rates. As market interest rates increase, the value of the securities, which are generally characterized by fixed interest rates or adjustable rates that lag the movement in market interest rates, decline and vice-versa. Additionally, movements in market interest rates significantly impact the average lives of mortgage-backed securities by influencing the rate of principal prepayment attributable to refinancing activity. Changes in the expected average lives of such securities significantly impact their fair values due to the extension or contraction of the cash flows that an investor expects to receive over the life of the security. Generally, lower market interest rates prompt greater refinancing activity thereby shortening the average lives of mortgage-backed securities and vice-versa. The historically low mortgage rates prevalent in the marketplace during recent years created significant refinancing incentive for qualified borrowers. Prepayment rates are also influenced by fluctuating real estate values and the overall availability of credit in the marketplace which significantly impacts the ability of borrowers to qualify for refinancing. The residential real estate marketplace in recent years has been characterized by diminished property values and reduced availability of credit due to tightening underwriting standards. As a consequence, the ability of certain borrowers to qualify for the refinancing of existing loans has been reduced while residential real estate purchase activity has been stifled. These factors have partially offset the effects of historically low interest rates on mortgage-backed security prepayment rates. The market price of mortgage-backed securities, being the key measure of the fair value to an investor in such securities, is also influenced by the overall supply and demand for such securities in the marketplace. Absent other factors, an increase in the demand for, or a decrease in the supply of a security increases its price. Conversely, a decrease in the demand for, or an increase in the supply of a security decreases its price. In sum, the factors influencing the fair value of the Company’s U.S. agency mortgage-backed securities, as described above, generally result from movements in market interest rates and changing real estate and financial market conditions which affect the supply and demand for such securities. Such market conditions may fluctuate over time resulting in certain securities being impaired for periods in excess of 12 months. However, the longevity of such impairment is not necessarily reflective of an expectation for an adverse change in cash flows signifying a credit loss. Consequently, the impairments of value resulting directly from these changing market conditions are considered “noncredit-related” and “temporary” in nature. Finally, the Company has the stated ability and intent to “hold to maturity” those securities so designated at September 30, 2015 and does not intend to sell the temporarily impaired available for sale securities prior to the recovery of their fair value to a level equal to or greater than the Company’s amortized cost. Moreover, the Company has concluded that the possibility of being required to sell the securities prior to their anticipated recovery is unlikely based upon its strong liquidity, asset quality and capital position as of that date. In light of the factors noted, the Company does not consider its U.S. agency and GSE mortgage-backed securities with unrealized losses at September 30, 2015 to be “other-than-temporarily” impaired as of that date. In addition to those mortgage-backed securities issued by U.S. agencies and GSEs, the Company held a nominal balance of non-agency mortgage-backed securities at September 30, 2015. Unlike agency and GSE mortgage-backed securities, non-agency collateralized mortgage obligations are not explicitly guaranteed by a U.S. government sponsored entity. Rather, such securities generally utilize the structure of the larger investment vehicle to reallocate credit risk among the individual tranches comprised within that vehicle. Through this process, investors in different tranches are subject to varying degrees of risk that the cash flows of their tranche will be adversely impacted by borrowers defaulting on the underlying mortgage loans. The creditworthiness of certain tranches may also be further enhanced by additional credit insurance protection embedded within the terms of the total investment vehicle. The fair values of the non-agency mortgage-backed securities are subject to many of the factors applicable to the agency securities that may result in “temporary” impairments in value. However, due to the lack of agency guaranty, the Company also monitors the general level of credit risk for each of its non-agency mortgage-backed securities based upon a variety of factors including, but not limited to, the ratings assigned to its specific tranches by one or more credit rating agencies, where available. As noted above, the level of such ratings and changes thereto, is one of several factors considered by the Company in identifying those securities that may be other-than-temporarily impaired. The applicable securities generally maintained their credit-ratings at levels supporting the investment grade assessment by the Company. The Company has the stated ability and intent to “hold to maturity” those securities at September 30, 2015 and has further concluded that the possibility of being required to sell the securities prior to their anticipated recovery is unlikely based upon its strong liquidity, asset quality and capital position as of that date. In light of the factors noted, the Company does not consider its non-agency mortgage-backed securities with unrealized losses at September 30, 2015 to be “other-than-temporarily” impaired as of that date. U.S. Agency Debt Securities. The carrying value of the Company’s U.S. agency debt securities totaled $150.5 million at September 30, 2015 and comprised 10.7% of total investments and 3.5% of total assets as of that date. Such securities included fixed-rate U.S. agency debentures and securitized pools of loans issued and fully guaranteed by the Small Business Administration (“SBA”), a U.S. government agency. With credit risk being reduced to negligible levels due to the issuer’s guarantee, the unrealized losses on the Company’s investment in U.S. agency debentures are due largely to the combined effects of several market-related factors including, most notably, changes in market interest rates. In general, the fair value of certain debt securities, including the Company’s U.S. agency debentures, move inversely with changes in market interest rates. As market interest rates increase, the value of the securities, which are generally characterized by fixed interest rates, decline and vice-versa. The market price of U.S. agency debentures is also influenced by the overall supply and demand for such securities in the marketplace. Absent other factors, an increase in the demand for, or a decrease in the supply of a security increases its price. Conversely, a decrease in the demand for, or an increase in the supply of, a security decreases its price. In sum, the factors influencing the fair value of the Company’s U.S. agency debentures, as described above, generally result from movements in market interest rates and changing market conditions which affect the supply and demand for such securities. Those market conditions may fluctuate over time resulting in certain securities being impaired for periods in excess of 12 months. However, the longevity of such impairment is not necessarily reflective of an expectation for an adverse change in cash flows signifying a credit loss. Consequently, the impairments of value resulting directly from these changing market conditions are considered “noncredit-related” and “temporary” in nature. Finally, the Company has the stated ability and intent to “hold to maturity” those securities so designated at September 30, 2015 and does not intend to sell the temporarily impaired available for sale securities prior to the recovery of their fair value to a level equal to or greater than the Company’s amortized cost. Furthermore, the Company has concluded that the possibility of being required to sell the securities prior to their anticipated recovery is unlikely based upon its strong liquidity, asset quality and capital position as of that date. In light of the factors noted, the Company does not consider its balance of U.S. agency securities with unrealized losses at September 30, 2015 to be “other-than-temporarily” impaired as of that date. Obligations of State and Political Subdivisions. The carrying value of the Company’s securities representing obligations of state and political subdivisions totaled $112.7 million at September 30, 2015 and comprised 8.0% of total investments and 2.6% of total assets as of that date. Such securities primarily included fixed-rate, bank-qualified securities representing general obligations of municipalities located within the U.S. or the obligations of their related entities such as boards of education or school districts. The balance of municipal obligations at September 30, 2015 included $6.4 million of non-rated bond anticipation and special emergency notes (“BANs”) comprising ten short-term obligations issued by a total of seven New Jersey municipalities. As noted earlier, the Company considers the ratings assigned by one or more credit rating agencies, where available, in its evaluation of the impairment attributable to each of its municipal obligations. The Company uses such ratings, in conjunction with the other criteria noted earlier, to identify those securities whose impairments are potentially “credit-related” versus “noncredit-related”. Unrealized losses associated with municipal obligations whose credit ratings exceed certain internally defined thresholds are considered to be indicative of “noncredit-related” impairment given the nominal level of credit losses that would be expected based upon such ratings. That conclusion is generally reinforced, as appropriate, by additional internal analysis supporting the Company’s periodic internal investment grade assessment of the security. At September 30, 2015, each of the Company’s impaired municipal obligations were consistently rated by Moody’s Investors Service (“Moody’s”) and Standard & Poor’s Financial Services (“S&P”) well above the thresholds that generally support the Company’s investment grade assessment with such ratings equaling “A” or higher by S&P and/or “A3” or higher by Moody’s, where rated by those agencies. In the absence of such ratings, the Company relies upon its own internal analysis of the issuer’s financial condition to validate its investment grade assessment. Given the absence of any expectation for an adverse change in cash flows signifying a credit loss, the unrealized losses on the Company’s investment in municipal obligations are due largely to the combined effects of several market-related factors including, most notably, changes in market interest rates. In general, the fair value of certain debt securities, including the Company’s municipal obligations, move inversely with changes in market interest rates. As market interest rates increase, the value of the securities, which are generally characterized by fixed interest rates, decline and vice-versa. The market price of municipal obligations is also influenced by the overall supply and demand for such securities in the marketplace. While these factors may generally reflect the level of available liquidity in the marketplace, demand for individual securities will specifically reflect investors’ assessment of an issuer’s creditworthiness and resulting expectations for timely and full repayment in accordance with the terms of the applicable security agreement. Absent other factors, an increase in the demand for, or a decrease in the supply of, a security increases its price. Conversely, a decrease in the demand for, or an increase in the supply of, a security decreases its price. In sum, the factors influencing the fair value of the Company’s municipal obligations, as described above, generally result from movements in market interest rates and changing market conditions which affect the supply and demand for such securities. Those market conditions may fluctuate over time resulting in certain securities being impaired for periods in excess of 12 months. However, the longevity of such impairment is not necessarily reflective of an expectation for an adverse change in cash flows signifying a credit loss. Consequently, the impairments of value resulting directly from these changing market conditions are considered “noncredit-related” and “temporary” in nature. Finally, the Company has the stated ability and intent to “hold to maturity” those securities so designated at September 30, 2015 and does not intend to sell the temporarily impaired available for sale securities prior to the recovery of their fair value to a level equal to or greater than the Company’s amortized cost. Furthermore, the Company has concluded that the possibility of being required to sell the securities prior to their anticipated recovery is unlikely based upon its strong liquidity, asset quality and capital position as of that date. In light of the factors noted, the Company does not consider its balance of obligations of state and political subdivisions with unrealized losses at September 30, 2015 to be “other-than-temporarily” impaired as of that date. Asset-backed Securities. The carrying value of the Company’s asset-backed securities totaled $85.2 million at September 30, 2015 and comprised 6.1% of total investments and 2.0% of total assets as of that date. This category of securities is comprised entirely of structured, floating-rate securities representing securitized federal education loans with 97% U.S. government guarantees. The securities represent tranches of a larger investment vehicle designed to reallocate credit risk among the individual tranches comprised within that vehicle. Through this process, investors in different tranches are subject to varying degrees of risk that the cash flows of their tranche will be adversely impacted by borrowers defaulting on the underlying loans. The Company’s securities represent the highest credit-quality tranches within the overall structures with each being rated “AA+” or better by S&P at September 30, 2015. With credit risk being reduced to nominal levels due to the guarantees and structural support noted above, the unrealized losses on the Company’s investment in asset-backed securities are due largely to the combined effects of several market-related factors, including changes in market interest rates and fluctuating demand for such securities in the marketplace. In general, the fair value of certain debt securities, including the Company’s asset-backed securities, move inversely with changes in market interest rates. As market interest rates increase, the value of the securities decline and vice-versa. However, the floating-rate nature of the Company’s asset-backed securities greatly reduces their sensitivity to such changes in market rates. More significantly, the market price of asset-backed securities is also influenced by the overall supply and demand for such securities in the marketplace. Absent other factors, an increase in the demand for, or a decrease in the supply of, a security increases its price. Conversely, a decrease in the demand for, or an increase in the supply of, a security decreases its price. In sum, the factors influencing the fair value of the Company’s asset-backed securities, as described above, generally result from movements in market interest rates and changing market conditions which affect the supply and demand for such securities. Those market conditions may fluctuate over time resulting in certain securities being impaired for periods in excess of 12 months. However, the longevity of such impairment is not necessarily reflective of an expectation for an adverse change in cash flows signifying a credit loss. Consequently, the impairments of value resulting directly from these changing market conditions are considered “noncredit-related” and “temporary” in nature. Finally, the Company does not intend to sell the temporarily impaired available for sale securities prior to the recovery of their fair value to a level equal to or greater than the Company’s amortized cost. Furthermore, the Company has concluded that the possibility of being required to sell the securities prior to their anticipated recovery is unlikely based upon its strong liquidity, asset quality and capital position as of September 30, 2015. In light of the factors noted, the Company does not consider its balance of asset-backed securities with unrealized losses at September 30, 2015 to be “other-than-temporarily” impaired as of that date. Collateralized Loan Obligations. The outstanding balance of the Company’s collateralized loan obligations totaled $127.4 million at September 30, 2015 and comprised 9.1% of total investments and 3.0% of total assets as of that date. This category of securities is comprised entirely of structured, floating-rate securities comprised of securitized commercial loans to large U.S. corporations. The Company’s securities represent tranches of a larger investment vehicle designed to reallocate cash flows and credit risk among the individual tranches comprised within that vehicle. Through this process, investors in different tranches are subject to varying degrees of risk that the cash flows of their tranche will be adversely impacted by borrowers defaulting on the underlying loans. As noted earlier, the Company considers the ratings assigned by one or more credit rating agencies, where available, in its evaluation of the impairment attributable to each of its collateralized loan obligations. The Company uses such ratings, in conjunction with the other criteria noted earlier, to identify those securities whose impairments are potentially “credit-related” versus “noncredit-related”. Unrealized losses associated with collateralized loan obligations whose credit ratings exceed certain internally defined thresholds are considered to be indicative of “noncredit-related” impairment given the nominal level of credit losses that would be expected based upon such ratings. That conclusion is generally reinforced, as appropriate, by additional internal analysis supporting the Company’s periodic internal investment grade assessment of the security. At September 30, 2015, each of the Company’s impaired collateralized loan obligations were consistently rated by Moody’s and S&P well above the thresholds that generally support the Company’s investment grade assessment, with such ratings equaling “AA” or higher by S&P and “Aa2” or higher by Moody’s, where rated by those agencies. Given the absence of any expectation for an adverse change in cash flows signifying a credit loss, the unrealized losses on the Company’s investment in collateralized loan obligations are due largely to the combined effects of several market-related factors, including changes in market interest rates and fluctuating demand for such securities in the marketplace. In general, the fair value of certain debt securities, including the Company’s collateralized loan obligations, move inversely with changes in market interest rates. As market interest rates increase, the value of the securities decline and vice-versa. However, the floating-rate nature of the Company’s collateralized loan obligations greatly reduces their sensitivity to such changes in market rates. More significantly, the market price of collateralized loan obligations is also influenced by the overall supply and demand for such securities in the marketplace. While these factors may generally reflect the level of available liquidity in the marketplace, demand for individual securities will specifically reflect the performance of the underlying collateral in conjunction with the resiliency of the security’s structural support as they affect investors’ expectations for timely and full repayment. Absent other factors, an increase in the demand for, or a decrease in the supply of, a security increases its price. Conversely, a decrease in the demand for, or an increase in the supply of, a security decreases its price. In sum, the factors influencing the fair value of the Company’s collateralized loan obligations, as described above, generally result from movements in market interest rates and changing market conditions which affect the supply and demand for such securities. Those market conditions may fluctuate over time resulting in certain securities being impaired for periods in excess of 12 months. However, the longevity of such impairment is not necessarily reflective of an expectation for an adverse change in cash flows signifying a credit loss. Consequently, the impairments of value resulting directly from these changing market conditions are considered “noncredit-related” and “temporary” in nature. During fiscal 2015, the Company reviewed the underlying security agreements for each of its collateralized loan obligations to determine if the terms of such agreements could potentially allow for the inclusion of ineligible assets within the security’s structure in the future thereby making it an ineligible investment under the terms of the “Volcker Rule” and related regulations enacted by regulatory agencies in conjunction with the ongoing implementation of the Dodd-Frank Wall Street Reform and Consumer Protection Act. To the extent the agreements contained such provisions and could or would not be modified by the issuer to ensure ongoing compliance with the Volcker Rule, the Bank sold such securities during fiscal 2015. At September 30, 2015, the Company’s entire portfolio of collateralized loan obligations remains compliant with the Volcker Rule. As such, the Company concluded that the possibility of being required to sell its collateralized loan obligations prior to their anticipated recovery is currently unlikely, which is further reinforced by the overall strength of the Company’s liquidity, asset quality and capital position as of that date. Moreover, the Company does not otherwise intend to sell the temporarily impaired available for sale securities prior to the recovery of their fair value to a level equal to or greater than the Company’s amortized cost at September 30, 2015. In light of the factors noted, the Company does not consider its balance of collateralized loan obligations with unrealized losses at September 30, 2015 to be “other-than-tempor |
Loan Quality and Allowance for
Loan Quality and Allowance for Loan Losses | 3 Months Ended |
Sep. 30, 2015 | |
Receivables [Abstract] | |
Loan Quality and Allowance for Loan Losses | 10. LOAN QUALITY AND ALLOWANCE FOR LOAN LOSSES Past Due Loans. A loan’s “past due” status is generally determined based upon its “P&I delinquency” status in conjunction with its “past maturity” status, where applicable. A loan’s “P&I delinquency” status is based upon the number of calendar days between the date of the earliest P&I payment due and the “as of” measurement date. A loan’s “past maturity” status, where applicable, is based upon the number of calendar days between a loan’s contractual maturity date and the “as of” measurement date. Based upon the larger of these criteria, loans are categorized into the following “past due” tiers for financial statement reporting and disclosure purposes: Current (including 1-29 days past due), 30-59 days, 60-89 days and 90 or more days. Nonaccrual Loans. Loans are generally placed on nonaccrual status when contractual payments become 90 days or more past due, and are otherwise placed on nonaccrual status when the Company does not expect to receive all P&I payments owed substantially in accordance with the terms of the loan agreement. Loans that become 90 days past maturity, but remain non-delinquent with regard to ongoing P&I payments, may remain on accrual status if: (1) the Company expects to receive all P&I payments owed substantially in accordance with the terms of the loan agreement, past maturity status notwithstanding, and (2) the borrower is working actively and cooperatively with the Company to remedy the past maturity status through an expected refinance, payoff or modification of the loan agreement that is not expected to result in a troubled debt restructuring (“TDR”) classification. All TDRs are placed on nonaccrual status for a period of no less than six months after restructuring, irrespective of past due status. The sum of nonaccrual loans plus accruing loans that are 90 days or more past due are generally defined collectively as “nonperforming loans”. Payments received in cash on nonaccrual loans, including both the principal and interest portions of those payments, are generally applied to reduce the carrying value of the loan for financial statement purposes. When a loan is returned to accrual status, any accumulated interest payments previously applied to the carrying value of the loan during its nonaccrual period are recognized as interest income as an adjustment to the loan’s yield over its remaining term. Loans that are not considered to be TDRs are generally returned to accrual status when payments due are brought current and the Company expects to receive all remaining P&I payments owed substantially in accordance with the terms of the loan agreement. Non-TDR loans may also be returned to accrual status when a loan’s payment status falls below 90 days past due and the Company: (1) expects receipt of the remaining past due amounts within a reasonable timeframe, and (2) expects to receive all remaining P&I payments owed substantially in accordance with the terms of the loan agreement. Acquired Loans. Loans that we acquire through acquisitions are recorded at fair value with no carryover of the related allowance for credit losses. Determining the fair value of the loans involves estimating the amount and timing of principal and interest cash flows expected to be collected on the loans and discounting those cash flows at a market rate of interest. The excess of cash flows expected at acquisition over the estimated fair value is referred to as the accretable yield and is recognized into interest income over the remaining life of the loan. The difference between contractually required payments at acquisition and the cash flows expected to be collected at acquisition is referred to as the nonaccretable yield. The nonaccretable yield represents estimated future credit losses expected to be incurred over the life of the loan. Subsequent decreases to the expected cash flows require us to evaluate the need for an allowance for credit losses. Subsequent improvements in expected cash flows result in the reversal of a corresponding amount of the nonaccretable yield which we then reclassify as accretable yield that is recognized into interest income over the remaining life of the loan using the interest method. Our evaluation of the amount of future cash flows that we expect to collect is performed in a similar manner as that used to determine our allowance for credit losses. Charge-offs of the principal amount on acquired loans would be first applied to the nonaccretable yield portion of the fair value adjustment. Acquired loans that met the criteria for nonaccrual of interest prior to the acquisition may be considered performing upon acquisition, regardless of whether the customer is contractually delinquent, if we can reasonably estimate the timing and amount of the expected cash flows on such loans and if we expect to fully collect the new carrying value of the loans. As such, we may no longer consider the loan to be nonaccrual or nonperforming and may accrue interest on these loans, including the impact of any accretable yield. At September 30, 2015, the remaining outstanding principal balance and carrying amount of acquired credit-impaired loans totaled approximately $9,873,000 and $8,243,000, respectively. By comparison, at June 30, 2015, the remaining outstanding principal balance and carrying amount of acquired credit-impaired loans totaled approximately $9,900,000 and $8,363,000, respectively. The carrying amount of acquired credit-impaired loans for which interest is not being recognized due to the uncertainty of the cash flows relating to such loans totaled $1,302,000 and $1,322,000 at September 30, 2015 and June 30, 2015, respectively. The balance of the allowance for loan losses at June 30, 2015 included approximately $81,000 of valuation allowances for specifically identified impairment attributable to acquired credit-impaired loans. The valuation allowances were attributable to additional impairment recognized on the applicable loans subsequent to their acquisition, net of any charge offs recognized during that time. There were no valuation allowances for specifically identified impairment attributable to acquired credit-impaired loans at September 30, 2015. The following table presents the changes in the accretable yield relating to the acquired credit-impaired loans for the three months ended September 30, 2015 and September 30, 2014. Three Months Ended September 30, 2015 2014 (In Thousands) Beginning balance $ 1,189 $ 1,891 Accretion to interest income (105 ) (64 ) Disposals - - Reclassifications from nonaccretable difference - - Ending balance $ 1,084 $ 1,827 Classification of Assets. In compliance with regulatory guidelines, the Company’s loan review system includes an evaluation process through which certain loans exhibiting adverse credit quality characteristics are classified “Special Mention”, “Substandard”, “Doubtful” or “Loss”. An asset is classified as “Substandard” if it is inadequately protected by the paying capacity and net worth of the obligor or the collateral pledged, if any. Substandard assets include those characterized by the distinct possibility that the insured institution will sustain some loss if the deficiencies are not corrected. Assets classified as “Doubtful” have all of the weaknesses inherent in those classified as “Substandard”, with the added characteristic that the weaknesses present make collection or liquidation in full highly questionable and improbable, on the basis of currently existing facts, conditions and values. Assets, or portions thereof, classified as “Loss” are considered uncollectible or of so little value that their continuance as assets is not warranted. Management evaluates loans classified as substandard or doubtful for impairment in accordance with applicable accounting requirements. As discussed in greater detail below, a valuation allowance is established through the provision for loan losses for any impairment identified through such evaluations. To the extent that impairment identified on a loan is classified as “Loss”, that portion of the loan is charged off against the allowance for loan losses. The classification of loan impairment as “Loss” is based upon a confirmed expectation for loss. For loans primarily secured by real estate, the expectation for loss is generally confirmed when: (a) impairment is identified on a loan individually evaluated in the manner described below, and (b) the loan is presumed to be collateral-dependent such that the source of loan repayment is expected to arise solely from sale of the collateral securing the applicable loan. Impairment identified on non-collateral-dependent loans may or may not be eligible for a “Loss” classification depending upon the other salient facts and circumstances that affect the manner and likelihood of loan repayment. However, loan impairment that is classified as “Loss” is charged off against the allowance for loan losses concurrent with that classification. The timeframe between when loan impairment is first identified by the Company and when such impairment may ultimately be charged off varies by loan type. For example, unsecured consumer and commercial loans are generally classified as “Loss” at 120 days past due, resulting in their outstanding balances being charged off at that time. For the Company’s secured loans, the condition of collateral dependency generally serves as the basis upon which a “Loss” classification is ascribed to a loan’s impairment thereby confirming an expected loss and triggering charge off of that impairment. While the facts and circumstances that effect the manner and likelihood of repayment vary from loan to loan, the Company generally considers the referral of a loan to foreclosure, coupled with the absence of other viable sources of loan repayment, to be demonstrable evidence of collateral dependency. Depending upon the nature of the collections process applicable to a particular loan, an early determination of collateral dependency could result in a nearly concurrent charge off of a newly identified impairment. By contrast, a presumption of collateral dependency may only be determined after the completion of lengthy loan collection and/or workout efforts, including bankruptcy proceedings, which may extend several months or more after a loan’s impairment is first identified. In a limited number of cases, the entire net carrying value of a loan may be determined to be impaired based upon a collateral-dependent impairment analysis. However, the borrower’s adherence to contractual repayment terms precludes the recognition of a “Loss” classification and charge off. In these limited cases, a valuation allowance equal to 100% of the impaired loan’s carrying value may be maintained against the net carrying value of the asset. Assets which do not currently expose the Company to a sufficient degree of risk to warrant an adverse classification but have some credit deficiencies or other potential weaknesses are designated as “Special Mention” by management. Adversely classified assets, together with those rated as “Special Mention”, are generally referred to as “Classified Assets”. Non-classified assets are internally rated within one of four “Pass” categories or as “Watch” with the latter denoting a potential deficiency or concern that warrants increased oversight or tracking by management until remediated. Management performs a classification of assets review, including the regulatory classification of assets, generally on a monthly basis. The results of the classification of assets review are validated by the Company’s third party loan review firm during their quarterly independent review. In the event of a difference in rating or classification between those assigned by the internal and external resources, the Company will generally utilize the more critical or conservative rating or classification. Final loan ratings and regulatory classifications are presented monthly to the Board of Directors and are reviewed by regulators during the examination process. Allowance for Loan Losses. The allowance for loan losses is a valuation account that reflects the Company’s estimation of the losses in its loan portfolio to the extent they are both probable and reasonable to estimate. The balance of the allowance is generally maintained through provisions for loan losses that are charged to income in the period that estimated losses on loans are identified by the Company’s loan review system. The Company charges confirmed losses on loans against the allowance as such losses are identified. Recoveries on loans previously charged-off are added back to the allowance. The Company’s allowance for loan loss calculation methodology utilizes a “two-tier” loss measurement process that is generally performed monthly. Based upon the results of the classification of assets and credit file review processes described earlier, the Company first identifies the loans that must be reviewed individually for impairment. Factors considered in identifying individual loans to be reviewed include, but may not be limited to, loan type, classification status, contractual payment status, performance/accrual status and impaired status. The loans considered by the Company to be eligible for individual impairment review include its commercial mortgage loans, comprising multi-family and nonresidential real estate loans, construction loans, commercial business loans as well as its one-to-four family mortgage loans, home equity loans and home equity lines of credit. A reviewed loan is deemed to be impaired when, based on current information and events, it is probable that we will be unable to collect all amounts due according to the contractual terms of the loan agreement. Once a loan is determined to be impaired, management performs an analysis to determine the amount of impairment associated with that loan. In measuring the impairment associated with collateral-dependent loans, the fair value of the collateral securing the loan is generally used as a measurement proxy for that of the impaired loan itself as a practical expedient. In the case of real estate collateral, such values are generally determined based upon a discounted market value obtained through an automated valuation module or prepared by a qualified, independent real estate appraiser. The value of non-real estate collateral is similarly determined based upon an independent assessment of fair market value by a qualified resource. The Company generally obtains independent appraisals on properties securing mortgage loans when such loans are initially placed on nonperforming or impaired status with such values updated approximately every six to twelve months thereafter throughout the collections, bankruptcy and/or foreclosure processes. Appraised values are typically updated at the point of foreclosure, where applicable, and approximately every six to twelve months thereafter while the repossessed property is held as real estate owned. As supported by accounting and regulatory guidance, the Company reduces the fair value of the collateral by estimated selling costs, such as real estate brokerage commissions, to measure impairment when such costs are expected to reduce the cash flows available to repay the loan. The Company establishes valuation allowances in the fiscal period during which the loan impairments are identified. The results of management’s individual loan impairment evaluations are validated by the Company’s third party loan review firm during their quarterly independent review. Such valuation allowances are adjusted in subsequent fiscal periods, where appropriate, to reflect any changes in carrying value or fair value identified during subsequent impairment evaluations which are generally updated monthly by management. The second tier of the loss measurement process involves estimating the probable and estimable losses which addresses loans not otherwise reviewed individually for impairment as well as those individually reviewed loans that are determined to be non-impaired. Such loans include groups of smaller-balance homogeneous loans that may generally be excluded from individual impairment analysis, and therefore collectively evaluated for impairment, as well as the non-impaired loans within categories that are otherwise eligible for individual impairment review. Valuation allowances established through the second tier of the loss measurement process utilize historical and environmental loss factors to collectively estimate the level of probable losses within defined segments of the Company’s loan portfolio. These segments aggregate homogeneous subsets of loans with similar risk characteristics based upon loan type. For allowance for loan loss calculation and reporting purposes, the Company currently stratifies its loan portfolio into seven primary segments: residential mortgage loans, commercial mortgage loans, construction loans, commercial business loans, home equity loans, home equity lines of credit and other consumer loans. The risks presented by residential mortgage loans are primarily related to adverse changes in the borrower’s financial condition that threaten repayment of the loan in accordance with its contractual terms. Such risk to repayment can arise from job loss, divorce, illness and the personal bankruptcy of the borrower. For collateral dependent residential mortgage loans, additional risk of loss is presented by potential declines in the fair value of the collateral securing the loan. Home equity loans and home equity lines of credit generally share the same risks as those applicable to residential mortgage loans. However, to the extent that such loans represent junior liens, they are comparatively more susceptible to such risks given their subordinate position behind senior liens. In addition to sharing similar risks as those presented by residential mortgage loans, risks relating to commercial mortgage loans also arise from comparatively larger loan balances to single borrowers or groups of related borrowers. Moreover, the repayment of such loans is typically dependent on the successful operation of an underlying real estate project and may be further threatened by adverse changes to demand and supply of commercial real estate as well as changes generally impacting overall business or economic conditions. The risks presented by construction loans are generally considered to be greater than those attributable to residential and commercial mortgage loans. Risks from construction lending arise, in part, from the concentration of principal in a limited number of loans and borrowers and the effects of general economic conditions on developers and builders. Moreover, a construction loan can involve additional risks because of the inherent difficulty in estimating both a property’s value at completion of the project and the estimated cost, including interest, of the project. The nature of these loans is such that they are comparatively more difficult to evaluate and monitor than permanent mortgage loans. Commercial business loans are also considered to present a comparatively greater risk of loss due to the concentration of principal in a limited number of loans and/or borrowers and the effects of general economic conditions on the business. Commercial business loans may be secured by varying forms of collateral including, but not limited to, business equipment, receivables, inventory and other business assets which may not provide an adequate source of repayment of the outstanding loan balance in the event of borrower default. Moreover, the repayment of commercial business loans is primarily dependent on the successful operation of the underlying business which may be threatened by adverse changes to the demand for the business’ products and/or services as well as the overall efficiency and effectiveness of the business’ operations and infrastructure. Finally, our unsecured consumer loans generally have shorter terms and higher interest rates than other forms of lending but generally involve more credit risk due to the lack of collateral to secure the loan in the event of borrower default. Consumer loan repayment is dependent on the borrower’s continuing financial stability, and therefore is more likely to be adversely affected by job loss, divorce, illness and personal bankruptcy. By contrast, our consumer loans also include account loans that are fully secured by the borrower’s deposit accounts and generally present nominal risk to the Bank. Each primary segment is further stratified to distinguish between loans originated and purchased through third parties from loans acquired through business combinations. Commercial business loans include secured and unsecured loans as well as loans originated through SBA programs. Additional criteria may be used to further group loans with common risk characteristics. For example, such criteria may distinguish between loans secured by different collateral types or separately identify loans supported by government guarantees such as those issued by the SBA. In regard to historical loss factors, the Company’s allowance for loan loss calculation calls for an analysis of historical charge-offs and recoveries for each of the defined segments within the loan portfolio. The Company utilizes a two-year moving average of annual net charge-off rates (charge-offs net of recoveries) by loan segment, where available, to calculate its actual, historical loss experience. The outstanding principal balance of the non-impaired portion of each loan segment is multiplied by the applicable historical loss factor to estimate the level of probable losses based upon the Company’s historical loss experience. As noted, the second tier of the Company’s allowance for loan loss calculation also utilizes environmental loss factors to estimate the probable losses within the loan portfolio. Environmental loss factors are based upon specific qualitative criteria representing key sources of risk within the loan portfolio. Such risk criteria includes the level of and trends in nonperforming loans; the effects of changes in credit policy; the experience, ability and depth of the lending function’s management and staff; national and local economic trends and conditions; credit risk concentrations and changes in local and regional real estate values. During fiscal 2014, the environmental factors utilized by the Company in its allowance for loan loss calculation were expanded to include changes in the nature, volume and terms of loans, changes in the quality of loan review systems and resources and the effects of regulatory, legal and other external factors. For each category of the loan portfolio, a level of risk, developed from a number of internal and external resources, is assigned to each of the qualitative criteria utilizing a scale ranging from zero (negligible risk) to 15 (high risk), with higher values potentially ascribed to exceptional levels of risk that exceed the standard range, as appropriate. The sum of the risk values, expressed as a whole number, is multiplied by .01% to arrive at an overall environmental loss factor, expressed in basis points, for each loan category. The Company incorporates its credit-rating classification system into the calculation of environmental loss factors by loan type by including risk-rating classification “weights” in its calculation of those factors. The Company’s risk-rating classification system ascribes a numerical rating of “1” through “9” to each loan within the portfolio. The ratings “5” through “9” represent the numerical equivalents of the traditional loan classifications “Watch”, “Special Mention”, “Substandard”, “Doubtful” and “Loss”, respectively, while lower ratings, “1” through “4”, represent risk-ratings within the least risky “Pass” category. The environmental loss factor applicable to each non-impaired loan within a category, as described above, is “weighted” by a multiplier based upon the loan’s risk-rating classification. Within any single loan category, a “higher” environmental loss factor is ascribed to those loans with comparatively higher risk-rating classifications resulting in a proportionately greater ALLL requirement attributable to such loans compared to the comparatively lower risk-rated loans within that category. The sum of the probable and estimable loan losses calculated through the first and second tiers of the loss measurement processes as described above, represents the total targeted balance for the Company’s allowance for loan losses at the end of a fiscal period. As noted earlier, the Company establishes all additional valuation allowances in the fiscal period during which additional individually identified loan impairments and additional estimated losses on loans collectively evaluated for impairment are identified. The Company adjusts its balance of valuation allowances through the provision for loan losses as required to ensure that the balance of the allowance for loan losses reflects all probable and estimable loans losses at the close of the fiscal period. Notwithstanding calculation methodology and the noted distinction between valuation allowances established on loans collectively versus individually evaluated for impairment, the Company’s entire allowance for loan losses is available to cover all charge-offs that arise from the loan portfolio. Although the Company’s allowance for loans losses is established in accordance with management’s best estimate, actual losses are dependent upon future events and, as such, further additions to the level of loan loss allowances may be necessary. The following tables present the balance of the allowance for loan losses at September 30, 2015 and June 30, 2015 based upon the calculation methodology described above. The tables identify the valuation allowances attributable to specifically identified impairments on individually evaluated loans, including those acquired with deteriorated credit quality, as well as valuation allowances for impairments on loans evaluated collectively. The tables include the underlying balance of loans receivable applicable to each category as of those dates as well as the activity in the allowance for loan losses for the three months ended September 30, 2015 and September 30, 2014. Unless otherwise noted, the balance of loans reported in the tables below excludes yield adjustments and the allowance for loan loss. Allowance for Loan Losses and Loans Receivable at September 30, 2015 Residential Mortgage Commercial Mortgage Construction Commercial Business Home Equity Loans Home Equity Lines of Credit Other Consumer Total (In Thousands) Balance of allowance for loan losses: Originated and purchased loans: Loans individually evaluated for impairment $ 218 $ 142 $ - $ 22 $ 89 $ - $ - $ 471 Loans collectively evaluated for impairment 2,158 12,576 24 969 185 36 26 15,974 Allowance for loan losses on originated and purchased loans 2,376 12,718 24 991 274 36 26 16,445 Loans acquired at fair value: Loans acquired with deteriorated credit quality - - - - - - - - Other acquired loans individually evaluated for impairment - 108 - 171 - 2 - 281 Acquired loans collectively evaluated for impairment 93 355 5 416 37 57 1 964 Allowance for loan losses on loans acquired at fair value 93 463 5 587 37 59 1 1,245 Total allowance for loan losses $ 2,469 $ 13,181 $ 29 $ 1,578 $ 311 $ 95 $ 27 $ 17,690 Allowance for Loan Losses and Loans Receivable Period Ended September 30, 2015 Residential Mortgage Commercial Mortgage Construction Commercial Business Home Equity Loans Home Equity Lines of Credit Other Consumer Total (In Thousands) Changes in the allowance for loan losses for the three months ended September 30, 2015: At June 30, 2015: Allocated $ 2,210 $ 11,120 $ 34 $ 1,860 $ 260 $ 106 $ 16 $ 15,606 Unallocated - - - - - - - - Total allowance for loan losses 2,210 11,120 34 1,860 260 106 16 15,606 Total charge offs (538 ) - - (96 ) - (24 ) - (658 ) Total recoveries - - - 59 41 - 1 101 Total allocated provisions 797 2,061 (5 ) (245 ) 10 13 10 2,641 Total unallocated provisions - - - - - - - - At September 30, 2015: Allocated 2,469 13,181 29 1,578 311 95 27 17,690 Unallocated - - - - - - - - Total allowance for loan losses $ 2,469 $ 13,181 $ 29 $ 1,578 $ 311 $ 95 $ 27 $ 17,690 Allowance for Loan Losses and Loans Receivable Period Ended September 30, 2014 Residential Mortgage Commercial Mortgage Construction Commercial Business Home Equity Loans Home Equity Lines of Credit Other Consumer Total (In Thousands) Changes in the allowance for loan losses for the three months ended September 30, 2014: At June 30, 2014: Allocated $ 2,729 $ 7,737 $ 67 $ 1,284 $ 460 $ 88 $ 22 $ 12,387 Unallocated - - - - - - - - Total allowance for loan losses 2,729 7,737 67 1,284 460 88 22 12,387 Total charge offs (303 ) (346 ) - (192 ) - - - (841 ) Total recoveries - - - 2 - - - 2 Total allocated provisions 149 551 (9 ) 268 (98 ) (4 ) 1 858 Total unallocated provisions - - - - - - - - At September 30, 2014: Allocated 2,575 7,942 58 1,362 362 84 23 12,406 Unallocated - - - - - - - - Total allowance for loan losses $ 2,575 $ 7,942 $ 58 $ 1,362 $ 362 $ 84 $ 23 $ 12,406 Allowance for Loan Losses and Loans Receivable at September 30, 2015 Residential Mortgage Commercial Mortgage Construction Commercial Business Home Equity Loans Home Equity Lines of Credit Other Consumer Total (In Thousands) Balance of loans receivable: Originated and purchased loans: Loans individually evaluated for impairment $ 10,073 $ 3,464 $ - $ 1,024 $ 972 $ 52 $ - $ 15,585 Loans collectively evaluated for impairment 551,063 1,506,880 2,740 69,718 64,902 11,652 4,501 2,211,456 Total originated and purchased loans 561,136 1,510,344 2,740 70,742 65,874 11,704 4,501 2,227,041 Loans acquired at fair value: Loans acquired with deteriorated credit quality 113 314 - 7,816 - - - 8,243 Other acquired loans individually evaluated for impairment - 4,334 2,013 512 476 918 - 8,253 Acquired loans collectively evaluated for impairment 57,958 80,997 333 18,175 4,997 8,856 79 171,395 Total loans acquired at fair value 58,071 85,645 2,346 26,503 5,473 9,774 79 187,891 Total loans $ 619,207 $ 1,595,989 $ 5,086 $ 97,245 $ 71,347 $ 21,478 $ 4,580 2,414,932 Unamortized yield adjustments 2,580 Loans receivable, net of yield adjustments $ 2,417,512 Allowance for Loan Losses and Loans Receivable at June 30, 2015 Residential Mortgage Commercial Mortgage Construction Commercial Business Home Equity Loans Home Equity Lines of Credit Other Consumer Total (In Thousands) Balance of allowance for loan losses: Originated and purchased loans: Loans individually evaluated for impairment $ 116 $ 415 $ - $ 30 $ 12 $ - $ - $ 573 Loans collectively evaluated for impairment 2,031 10,162 29 989 184 33 15 13,443 Allowance for loan losses on originated and purchased loans 2,147 10,577 29 1,019 196 33 15 14,016 Loans acquired at fair value: Loans acquired with deteriorated credit quality - - - 81 - - - 81 Other acquired loans individually evaluated for impairment - 114 - 259 - 24 - 397 Acquired loans collectively evaluated for impairment 63 429 5 501 64 49 1 1,112 Allowance for loan losses on loans acquired at fair value 63 543 5 841 64 73 1 1,590 Total allowance for loan losses $ 2,210 $ 11,120 $ 34 $ 1,860 $ 260 $ 106 $ 16 $ 15,606 Allowance for Loan Losses and Loans Receivable at June 30, 2015 Residential Mortgage Commercial Mortgage Construction Commercial Business Home Equity Loans Home Equity Lines of Credit Other Consumer Total (In Thousands) Balance of loans receivable: Originated and purchased loans: Loans individually evaluated for impairment $ 10,240 $ 3,439 $ - $ 1,861 $ 991 $ 26 $ - $ 16,557 Loans collectively evaluated for impairment 520,070 1,214,586 3,328 69,797 63,034 10,854 4,204 1,885,873 Total originated and purchased loans 530,310 1,218,025 3,328 71,658 64,025 10,880 4,204 1,902,430 Loans acquired at fair value: Loans acquired with deteriorated credit quality 116 318 - 7,929 - - - 8,363 Other acquired loans individually evaluated for impairment - 4,196 2,037 927 534 945 - 8,639 Acquired loans collectively evaluated for impairment 61,895 86,564 346 18,937 5,698 9,589 87 183,116 Total loans acquired at fair value 62,011 91,078 2,383 27,793 6,232 10,534 87 200,118 Total loans $ 592,321 $ 1,309,103 $ 5,711 $ 99,451 $ 70,257 $ 21,414 $ 4,291 2,102,548 Unamortized yield adjustments 316 Loans receivable, net of yield adjustments $ 2,102,864 The following tables present key indicators of credit quality regarding the Company’s loan portfolio based upon loan classification and contractual payment status at September 30, 2015 an |
Borrowings
Borrowings | 3 Months Ended |
Sep. 30, 2015 | |
Debt Disclosure [Abstract] | |
Borrowings | 11. BORROWINGS Fixed rate advances from the FHLB of New York mature as follows: September 30, 2015 June 30, 2015 Balance Weighted Average Interest Rate Balance Weighted Average Interest Rate (Dollars in Thousands) Maturing in years ending June 30: 2016 $ 432,500 0.51 % $ 382,500 0.41 % 2017 3,000 1.05 3,000 1.05 2018 5,225 1.18 5,225 1.18 2021 647 4.94 671 4.94 2023 145,000 3.04 145,000 3.04 Total borrowings 586,372 1.15 % 536,396 1.13 % Fair value adjustments 4 9 Total borrowings, net of fair value adjustments $ 586,376 $ 536,405 At September 30, 2015, $435.5 million in advances are due within one year while the remaining $150.9 million in advances are due after one year of which $145.0 million are callable in April 2018. At September 30, 2015, FHLB advances were collateralized by the FHLB capital stock owned by the Bank and mortgage loans and securities with carrying values totaling approximately $955.2 million and $181.1 million, respectively. At June 30, 2015, FHLB advances were collateralized by the FHLB capital stock owned by the Bank and mortgage loans and securities with carrying values totaling approximately $894.6 million and $185.2 million, respectively. Borrowings at September 30, 2015 and June 30, 2015 also included overnight borrowings in the form of depositor sweep accounts totaling $42.0 million and $35.1 million, respectively. Depositor sweep accounts are short term borrowings representing funds that are withdrawn from a customer’s noninterest-bearing deposit account and invested in an uninsured overnight investment account that is collateralized by specified investment securities owned by the Bank. |
Derivative Instruments and Hedg
Derivative Instruments and Hedging Activities | 3 Months Ended |
Sep. 30, 2015 | |
Derivative Instruments And Hedging Activities Disclosure [Abstract] | |
Derivative Instruments and Hedging Activities | 12. DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES At September 30, 2015 and June 30, 2015, the Company was subject to the terms of certain interest rate derivative agreements that were utilized by the Company to manage the interest rate exposure arising from specific wholesale funding positions. Such wholesale funding sources include floating-rate brokered money market deposits indexed to one-month LIBOR as well as a number of 90 day fixed-rate FHLB advances that are forecasted to be periodically redrawn at maturity for the same 90 day term as the original advance. The derivatives, comprising eight interest rate swaps and two interest rate caps, were designated as cash flow hedges with changes in their fair value recorded as an adjustment through other comprehensive income on an after-tax basis. The effects of derivative instruments on the statements of condition included in the Consolidated Financial Statements at September 30, 2015 and June 30, 2015 and for the three months ended September 30, 2015 and September 30, 2014 are as follows: September 30, 2015 Notional/ Contract Amount Fair Value Balance Sheet Location Expiration Date (Dollars in Thousands) Derivatives designated as hedging instruments Interest rate swaps by effective date: July 1, 2013 $ 165,000 $ (2,010 ) Other liabilities July 1, 2018 August 19, 2013 75,000 (1,747 ) Other liabilities August 20, 2018 October 9, 2013 50,000 (866 ) Other liabilities October 9, 2018 March 28, 2014 75,000 (2,224 ) Other liabilities March 28, 2019 June 5, 2015 60,000 (2,791 ) Other liabilities June 5, 2020 July 28, 2015 50,000 (2,703 ) Other liabilities July 28, 2020 September 28, 2015 40,000 (2,277 ) Other liabilities September 28, 2020 December 28, 2015 35,000 (2,041 ) Other liabilities December 28, 2020 550,000 (16,659 ) Interest rate caps by effective date: June 5, 2013 40,000 209 Other liabilities June 5, 2018 July 1, 2013 35,000 181 Other liabilities July 1, 2018 75,000 390 Total $ 625,000 $ (16,269 ) June 30, 2015 Notional/ Contract Amount Fair Value Balance Sheet Location Expiration Date (Dollars in Thousands) Derivatives designated as hedging instruments Interest rate swaps by effective date: July 1, 2013 $ 165,000 $ (768 ) Other liabilities July 1, 2018 August 19, 2013 75,000 (1,149 ) Other liabilities August 20, 2018 October 9, 2013 50,000 (400 ) Other liabilities October 9, 2018 March 28, 2014 75,000 (1,372 ) Other liabilities March 28, 2019 June 5, 2015 60,000 (1,717 ) Other liabilities June 5, 2020 July 28, 2015 50,000 (1,697 ) Other liabilities July 28, 2020 September 28, 2015 40,000 (1,289 ) Other liabilities September 28, 2020 December 28, 2015 35,000 (1,119 ) Other liabilities December 28, 2020 550,000 (9,511 ) Interest rate caps by effective date: June 5, 2013 40,000 428 Other liabilities June 5, 2018 July 1, 2013 35,000 366 Other liabilities July 1, 2018 75,000 794 Total $ 625,000 $ (8,717 ) Three Months Ended September 30, 2015 Amount of Loss Recognized in OCI on Derivatives, net of Tax (Effective Portion) Location of Gain (Loss) Recognized in Income of Derivatives (Ineffective Portion) Amount of Gain (Loss) Recognized in Income of Derivatives (Ineffective Portion) (Dollars in Thousands) Derivatives in cash flow hedges Interest rate swaps by effective date: July 1, 2013 $ (735 ) Not applicable $ - August 19, 2013 (354 ) Not applicable - October 9, 2013 (275 ) Not applicable - March 28, 2014 (504 ) Not applicable - June 5, 2015 (635 ) Not applicable - July 28, 2015 (595 ) Not applicable - September 28, 2015 (585 ) Not applicable - December 28, 2015 (545 ) Not applicable - (4,228 ) - Interest rate caps by effective date: June 5, 2013 (110 ) Not applicable - July 1, 2013 (94 ) Not applicable - (204 ) - Total $ (4,432 ) $ - Three Months Ended September 30, 2014 Amount of Loss Recognized in OCI on Derivatives, net of Tax (Effective Portion) Location of Gain (Loss) Recognized in Income of Derivatives (Ineffective Portion) Amount of Gain (Loss) Recognized in Income of Derivatives (Ineffective Portion) (Dollars in Thousands) Derivatives in cash flow hedges Interest rate swaps by effective date: July 1, 2013 $ 645 Not applicable $ - August 19, 2013 405 Not applicable - October 9, 2013 265 Not applicable - March 28, 2014 421 Not applicable - June 5, 2015 133 Not applicable - July 28, 2015 (126 ) Not applicable - September 28, 2015 (53 ) Not applicable - December 28, 2015 (52 ) Not applicable - 1,638 - Interest rate caps by effective date: June 5, 2013 53 Not applicable - July 1, 2013 31 Not applicable - 84 - Total $ 1,722 $ - The Company has in place enforceable master netting arrangements with all counterparties. All master netting arrangements include rights to offset associated with the Company’s recognized derivative assets, derivative liabilities, and cash collateral received and pledged. At September 30, 2015, two of the Company’s derivatives were in an asset position totaling $390,000 while the remaining eight derivatives were in a liability position totaling $16.7 million. In total, the Company’s derivatives were in a net liability position of $16.3 million at September 30, 2015 and included in other liabilities as of that date. As required under the enforceable master netting arrangement with its derivatives counterparties, the Company posted financial collateral to two counterparties totaling $16.8 million at September 30, 2015. The financial collateral posted was not included as an offsetting amount at September 30, 2015. At June 30, 2015, two of the Company’s derivatives were in an asset position totaling $794,000 while the remaining eight derivatives were in a liability position totaling $9.5 million. In total, the Company’s derivatives were in a net liability position of $8.7 million at June 30, 2015 and included in other liabilities as of that date. As required under the enforceable master netting arrangement with its derivatives counterparty, the Company posted financial collateral in the amount of $8.7 million at June 30, 2015 that was not included as an offsetting amount. |
Benefit Plans
Benefit Plans | 3 Months Ended |
Sep. 30, 2015 | |
Compensation And Retirement Disclosure [Abstract] | |
Benefit Plans | 13. BENEFIT PLANS Components of Net Periodic Expense The following table sets forth the aggregate net periodic benefit expense for the Bank’s Benefit Equalization Plan, Postretirement Welfare Plan, Directors’ Consultation and Retirement Plan and Atlas Bank Retirement Income Plan: Three Months Ended September 30, 2015 2014 (In Thousands) Service cost $ 59 $ 57 Interest cost 121 82 Amortization of unrecognized past service liability 9 12 Amortization of unrecognized loss 9 7 Expected return on assets (64 ) - Net periodic benefit cost $ 134 $ 158 |
Fair Value of Financial Instrum
Fair Value of Financial Instruments | 3 Months Ended |
Sep. 30, 2015 | |
Fair Value Disclosures [Abstract] | |
Fair Value of Financial Instruments | 14. FAIR VALUE OF FINANCIAL INSTRUMENTS The guidance on fair value measurement establishes a hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy describes three levels of inputs that may be used to measure fair value: Level 1: Quoted prices in active markets for identical assets or liabilities. Level 2: Observable inputs other than Level 1 prices, such as quoted for similar assets or liabilities; quoted prices in markets that are not active; or inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3: Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Level 3 assets and liabilities include financial instruments whose value is determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant management judgment or estimation. In addition, the guidance requires the Company to disclose the fair value for assets and liabilities on both a recurring and non-recurring basis. Those assets and liabilities measured at fair value on a recurring basis are summarized below: September 30, 2015 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total (In Thousands) Debt securities available for sale: U.S. agency securities $ - $ 7,159 $ - $ 7,159 Obligations of state and political subdivisions - 27,466 - 27,466 Asset-backed securities - 85,178 - 85,178 Collateralized loan obligations - 127,412 - 127,412 Corporate bonds - 161,174 - 161,174 Trust preferred securities - 8,081 - 8,081 Total debt securities - 416,470 - 416,470 Mortgage-backed securities available for sale: Collateralized mortgage obligations - 69,313 - 69,313 Residential pass-through securities - 250,505 - 250,505 Commercial pass-through securities - 9,492 - 9,492 Total mortgage-backed securities - 329,310 - 329,310 Total securities available for sale $ - $ 745,780 $ - $ 745,780 Derivative instruments Interest rate swaps $ - $ (16,659 ) $ - $ (16,659 ) Interest rate caps - 390 - 390 Total derivatives $ - $ (16,269 ) $ - $ (16,269 ) June 30, 2015 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total (In Thousands) Debt securities available for sale: U.S. agency securities $ - $ 7,263 $ - $ 7,263 Obligations of state and political subdivisions - 26,835 - 26,835 Asset-backed securities - 88,032 - 88,032 Collateralized loan obligations - 128,171 - 128,171 Corporate bonds - 162,608 - 162,608 Trust preferred securities - 7,751 - 7,751 Total debt securities - 420,660 - 420,660 Mortgage-backed securities available for sale: Collateralized mortgage obligations - 71,877 - 71,877 Residential pass-through securities - 263,613 - 263,613 Commercial pass-through securities - 11,129 - 11,129 Total mortgage-backed securities - 346,619 - 346,619 Total securities available for sale $ - $ 767,279 $ - $ 767,279 Derivative instruments Interest rate swaps $ - $ (9,511 ) $ - $ (9,511 ) Interest rate caps - 794 - 794 Total derivatives $ - $ (8,717 ) $ - $ (8,717 ) The fair values of securities available for sale (carried at fair value) or held to maturity (carried at amortized cost) are primarily determined by obtaining matrix pricing, which is a mathematical technique widely used in the industry to value debt securities without relying exclusively on quoted prices for the specific securities but rather by relying on the securities’ relationship to other benchmark quoted securities (Level 2 inputs). The Company has contracted with a third party vendor to provide periodic valuations for its interest rate derivatives to determine the fair value of its interest rate caps and swaps. The vendor utilizes standard valuation methodologies applicable to interest rate derivatives such as discounted cash flow analysis and extensions of the Black-Scholes model. Such valuations are based upon readily observable market data and are therefore considered Level 2 valuations by the Company. Those assets and liabilities measured at fair value on a non-recurring basis are summarized below: September 30, 2015 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total (In Thousands) Impaired loans $ - $ - $ 8,636 $ 8,636 June 30, 2015 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total (In Thousands) Impaired loans $ - $ - $ 9,742 $ 9,742 Real estate owned $ - $ - $ 547 $ 547 The following table presents additional quantitative information about assets measured at fair value on a non-recurring basis and for which the Company has utilized adjusted Level 3 inputs to determine fair value: September 30, 2015 Fair Value Valuation Techniques Unobservable Input Range Weighted Average (In Thousands) Impaired loans $ 8,636 Market valuation of underlying collateral (1) Direct disposal costs (2) 6% - 10% 8.21 % June 30, 2015 Fair Value Valuation Techniques Unobservable Input Range Weighted Average (In Thousands) Impaired loans $ 9,742 Market valuation of underlying collateral (1) Direct disposal costs (2) 6% - 10% 9.45 % Real estate owned $ 547 Market valuation of property (3) Direct disposal costs (2) 8% 8.00 % _____________________________ (1) The fair value of impaired loans is generally determined based on an independent appraisal of the market value of a loan’s underlying collateral. (2 ) The fair value basis of impaired loans and real estate owned is adjusted to reflect management estimates of disposal costs including, but not necessarily limited to, real estate brokerage commissions and title transfer fees, with such cost estimates generally ranging from 6% to 10% of collateral or property market value. (3) The fair value basis of real estate owned is generally determined based upon the lower of an independent appraisal of the property’s market value or the applicable listing price or contracted sales price. An impaired loan is evaluated and valued at the time the loan is identified as impaired at the lower of cost or market value. Loans for which it is probable that payment of interest and principal will not be made in accordance with the contractual terms of the loan agreement are considered impaired. Market value is measured based on the value of the collateral securing the loan and is classified at a Level 3 in the fair value hierarchy. Once a loan is identified as individually impaired, management measures impairment in accordance with the FASB’s guidance on accounting by creditors for impairment of a loan with the fair value estimated using the market value of the collateral reduced by estimated disposal costs. Those impaired loans not requiring an allowance represent loans for which the fair value of the expected repayments or collateral exceeds the recorded investments in such loans. Impaired loans are reviewed and evaluated on at least a quarterly basis for additional impairment and adjusted accordingly. At September 30, 2015, impaired loans valued using Level 3 inputs comprised loans with principal balances totaling $9.0 million and valuation allowances of $407,000 reflecting fair values of $8.6 million. By comparison, at June 30, 2015, impaired loans valued using Level 3 inputs comprised loans with principal balances totaling $10.8 million and valuation allowances of $1.1 million reflecting fair values of $9.7 million. Once a loan is foreclosed, the fair value of the real estate owned continues to be evaluated based upon the market value of the repossessed real estate originally securing the loan. At September 30, 2015, the Company held no real estate owned whose carrying value was written down utilizing Level 3 inputs during the first three months of fiscal 2016. At June 30, 2015, the Company held real estate owned totaling $547,000 whose carrying value was written down utilizing Level 3 inputs during fiscal 2015. The following methods and assumptions were used to estimate the fair value of each class of financial instruments at September 30, 2015 and June 30, 2015: Cash and Cash Equivalents, Interest Receivable and Interest Payable. The carrying amounts for cash and cash equivalents, interest receivable and interest payable approximate fair value because they mature in three months or less. Securities. See the discussion presented above concerning assets measured at fair value on a recurring basis. Loans Receivable. Except for certain impaired loans as previously discussed, the fair value of loans receivable is estimated by discounting the future cash flows, using the current rates at which similar loans would be made to borrowers with similar credit ratings and for the same remaining maturities, of such loans. FHLB of New York Stock. The carrying amount of restricted investment in bank stock approximates fair value, and considers the limited marketability of such securities. Deposits. The fair value of demand, savings and club accounts is equal to the amount payable on demand at the reporting date. The fair value of certificates of deposit is estimated using rates currently offered for deposits of similar remaining maturities. The fair value estimates do not include the benefit that results from the low-cost funding provided by deposit liabilities compared to the cost of borrowing funds in the market. Advances from FHLB. Fair value is estimated using rates currently offered for advances of similar remaining maturities. Interest Rate Derivatives. See the discussion presented above concerning assets measured at fair value on a recurring basis. Commitments. The fair value of commitments to fund credit lines and originate or participate in loans is estimated using fees currently charged to enter into similar agreements taking into account the remaining terms of the agreements and the present creditworthiness of the counterparties. For fixed rate loan commitments, fair value also considers the difference between current levels of interest and the committed rates. The carrying value, represented by the net deferred fee arising from the unrecognized commitment, and the fair value, determined by discounting the remaining contractual fee over the term of the commitment using fees currently charged to enter into similar agreements with similar credit risk, is not considered material for disclosure. The contractual amounts of unfunded commitments are presented in Management’s Discussion and Analysis of Financial Condition and Results of Operations under the heading Liquidity and Capital Resources. The carrying amounts and fair values of financial instruments are as follows: September 30, 2015 Carrying Amount Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (In Thousands) Financial assets: Cash and cash equivalents $ 102,630 $ 102,630 $ 102,630 $ - $ - Debt securities available for sale 416,470 416,470 - 416,470 - Mortgage-backed securities available for sale 329,310 329,310 - 329,310 - Debt securities held to maturity 228,597 228,757 - 228,757 - Mortgage-backed securities held to maturity 429,912 436,762 - 436,762 - Loans receivable 2,399,822 2,382,594 - - 2,382,594 FHLB Stock 29,717 29,717 - - 29,717 Interest receivable 11,058 11,058 11,058 - - Financial liabilities: Deposits (1) 2,463,890 2,474,572 1,450,660 - 1,023,912 Borrowings 628,351 643,227 - - 643,227 Interest payable on borrowings 1,114 1,114 1,114 - - Derivative instruments: Interest rate swaps (16,659 ) (16,659 ) - (16,659 ) - Interest rate caps 390 390 - 390 - ___________________________________ (1) Includes accrued interest payable on deposits of $78,000 at September 30, 2015. June 30, 2015 Carrying Amount Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (In Thousands) Financial assets: Cash and cash equivalents $ 340,136 $ 340,136 $ 340,136 $ - $ - Debt securities available for sale 420,660 420,660 - 420,660 - Mortgage-backed securities available for sale 346,619 346,619 - 346,619 - Debt securities held to maturity 219,862 218,366 - 218,366 - Mortgage-backed securities held to maturity 443,479 445,501 - 445,501 - Loans receivable 2,087,258 2,069,209 - - 2,069,209 FHLB Stock 27,468 27,468 - - 27,468 Interest receivable 9,873 9,873 9,873 - - Financial liabilities: Deposits (1) 2,465,650 2,476,425 1,463,974 - 1,012,451 Borrowings 571,499 585,209 - - 585,209 Interest payable on borrowings 1,020 1,020 1,020 - - Derivative instruments: Interest rate swaps (9,511 ) (9,511 ) - (9,511 ) - Interest rate caps 794 794 - 794 - ___________________________________ (1) Includes accrued interest payable on deposits of $80,000 at June 30, 2015. Limitations. Fair value estimates are made at a specific point in time based on relevant market information and information about the financial instruments. These estimates do not reflect any premium or discount that could result from offering for sale at one time the entire holdings of a particular financial instrument. Because no market value exists for a significant portion of the financial instruments, fair value estimates are based on judgments regarding future expected loss experience, current economic conditions, risk characteristics of various financial instruments and other factors. These estimates are subjective in nature, involve uncertainties and matters of judgment and, therefore, cannot be determined with precision. Changes in assumptions could significantly affect the estimates. The fair value estimates are based on existing on-and-off balance sheet financial instruments without attempting to value anticipated future business and the value of assets and liabilities that are not considered financial instruments. Other significant assets and liabilities that are not considered financial assets and liabilities include premises and equipment, and advances from borrowers for taxes and insurance. In addition, the ramifications related to the realization of the unrealized gains and losses can have a significant effect on fair value estimates and have not been considered in any of the estimates. |
Comprehensive Loss
Comprehensive Loss | 3 Months Ended |
Sep. 30, 2015 | |
Equity [Abstract] | |
Comprehensive Loss | 15. COMPREHENSIVE LOSS The components of accumulated other comprehensive loss included in stockholders’ equity at September 30, 2015 and June 30, 2015 are as follows: September 30, 2015 June 30, 2015 (In Thousands) Net unrealized loss on securities available for sale $ (1,598 ) $ (147 ) Tax effect 660 (108 ) Net of tax amount (938 ) (255 ) Net unrealized loss on securities available for sale transferred to held to maturity (1,095 ) (1,065 ) Tax effect 448 435 Net of tax amount (647 ) (630 ) Fair value adjustments on derivatives (18,622 ) (11,130 ) Tax effect 7,607 4,547 Net of tax amount (11,015 ) (6,583 ) Benefit plan adjustments (1,388 ) (494 ) Tax effect 567 201 Net of tax amount (821 ) (293 ) Total accumulated other comprehensive loss $ (13,421 ) $ (7,761 ) Other comprehensive loss and related tax effects for the months ended September 30, 2015 and September 30, 2014 are presented in the following table: Three Months Ended September 30, 2015 2014 (In Thousands) Net unrealized holding loss on securities available for sale $ (1,452 ) $ (3,071 ) Amortization of unrealized holding loss on securities available for sale transferred to held to maturity (3) (30 ) 2 Net unrealized (loss) gain on derivatives (7,492 ) 2,911 Benefit plans: Amortization of: Actuarial loss (1) 9 7 Past service cost (1) 9 12 New actuarial loss (911 ) (363 ) Net change in benefit plan accrued expense (893 ) (344 ) Other comprehensive loss before taxes (9,867 ) (502 ) Tax effect (2) 4,207 (8 ) Total other comprehensive loss $ (5,660 ) $ (510 ) _______________________________________________ (1) Represents amounts reclassified out of accumulated other comprehensive income and included in the computation of net periodic pension expense. See Note 14 – Benefit Plans for additional information. (2) The amounts included in income taxes for items reclassified out of accumulated other comprehensive income totaled $(365) for the three ended September 30, 2015 and $(9) three months ended September 30, 2014, respectively. (3) Represents amounts reclassified out of accumulated other comprehensive income and included in interest income on taxable securities. |
Net Income Per Common Share (25
Net Income Per Common Share ("EPS") (Tables) | 3 Months Ended |
Sep. 30, 2015 | |
Earnings Per Share [Abstract] | |
Reconciliation of Numerators and Denominators of Basic and Diluted Earnings Per Share Computations | The following is a reconciliation of the numerators and denominators of the basic and diluted earnings per share computations: Three Months Ended September 30, 2015 Income (Numerator) Shares (Denominator) Per Share Amount (In Thousands, Except Per Share Data) Net income $ 2,976 Basic earnings per share, income available to common stockholders $ 2,976 89,590 $ 0.03 Effect of dilutive securities: Stock options - 29 $ 2,976 89,619 $ 0.03 Three Months Ended September 30, 2014 Income (Numerator) Shares (Denominator) Per Share Amount (In Thousands, Except Per Share Data) Net income $ 2,923 Basic earnings per share, income available to common stockholders $ 2,923 92,452 $ 0.03 Effect of dilutive securities: Stock options - 547 $ 2,923 92,999 $ 0.03 |
Securities Available for Sale (
Securities Available for Sale (Tables) | 3 Months Ended |
Sep. 30, 2015 | |
Schedule of Available-for-sale Securities [Line Items] | |
Amortized Cost, Gross Unrealized Gains and Losses and Fair Values of Securities | The amortized cost, gross unrealized gains and losses and fair values of debt and mortgage-backed securities available for sale at September 30, 2015 and June 30, 2015 and stratification by contractual maturity of debt securities available for sale at September 30, 2015 are presented below: September 30, 2015 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In Thousands) Securities available for sale: Debt securities: U.S. agency securities $ 7,063 $ 111 $ 15 $ 7,159 Obligations of state and political subdivisions 27,507 183 224 27,466 Asset-backed securities 87,646 62 2,530 85,178 Collateralized loan obligations 128,633 35 1,256 127,412 Corporate bonds 163,042 117 1,985 161,174 Trust preferred securities 8,898 16 833 8,081 Total debt securities 422,789 524 6,843 416,470 Mortgage-backed securities: Collateralized mortgage obligations: Federal Home Loan Mortgage Corporation 25,776 174 150 25,800 Federal National Mortgage Association 43,867 64 568 43,363 Non-agency securities 151 - 1 150 Total collateralized mortgage obligations 69,794 238 719 69,313 Mortgage pass-through securities: Residential pass-through securities: Government National Mortgage Association 2,290 208 1 2,497 Federal Home Loan Mortgage Corporation 147,342 2,393 242 149,493 Federal National Mortgage Association 95,897 2,756 138 98,515 Total residential pass-through securities 245,529 5,357 381 250,505 Commercial pass-through securities: Federal National Mortgage Association 9,266 226 - 9,492 Total commercial pass-through securities 9,266 226 - 9,492 Total mortgage-backed securities 324,589 5,821 1,100 329,310 Total securities available for sale $ 747,378 $ 6,345 $ 7,943 $ 745,780 June 30, 2015 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In Thousands) Securities available for sale: Debt securities: U.S. agency securities $ 7,208 $ 66 $ 11 $ 7,263 Obligations of state and political subdivisions 27,513 26 704 26,835 Asset-backed securities 87,614 879 461 88,032 Collateralized loan obligations 128,624 175 628 128,171 Corporate bonds 163,049 433 874 162,608 Trust preferred securities 8,895 16 1,160 7,751 Total debt securities 422,903 1,595 3,838 420,660 Mortgage-backed securities: Collateralized mortgage obligations: Federal Home Loan Mortgage Corporation 27,392 10 324 27,078 Federal National Mortgage Association 45,522 12 900 44,634 Non-agency securities 167 - 2 165 Total collateralized mortgage obligations 73,081 22 1,226 71,877 Mortgage pass-through securities: Residential pass-through securities: Government National Mortgage Association 2,430 225 - 2,655 Federal Home Loan Mortgage Corporation 155,522 2,286 1,358 156,450 Federal National Mortgage Association 102,424 2,749 665 104,508 Total residential pass-through securities 260,376 5,260 2,023 263,613 Commercial pass-through securities: Federal National Mortgage Association 11,066 63 - 11,129 Total commercial pass-through securities 11,066 63 - 11,129 Total mortgage-backed securities 344,523 5,345 3,249 346,619 Total securities available for sale $ 767,426 $ 6,940 $ 7,087 $ 767,279 |
Securities Available for Sale [Member] | |
Schedule of Available-for-sale Securities [Line Items] | |
Stratification by Contractual Maturity of Securities | September 30, 2015 Amortized Cost Fair Value (In Thousands) Debt securities available for sale: Due in one year or less $ 20,007 $ 20,053 Due after one year through five years 50,778 50,098 Due after five years through ten years 155,585 153,828 Due after ten years 196,419 192,491 Total $ 422,789 $ 416,470 |
Securities Held to Maturity (Ta
Securities Held to Maturity (Tables) | 3 Months Ended |
Sep. 30, 2015 | |
Schedule of Held-to-maturity Securities [Line Items] | |
Amortized Cost, Gross Unrealized Gains and Losses and Fair Values of Securities | The amortized cost, gross unrealized gains and losses and fair values of debt and mortgage-backed securities held to maturity at September 30, 2015 and June 30, 2015 and stratification by contractual maturity of debt securities held to maturity at September 30, 2015 are presented below: September 30, 2015 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In Thousands) Securities held to maturity: Debt securities: U.S. agency securities $ 143,335 $ 7 $ 40 $ 143,302 Obligations of state and political subdivisions 85,262 502 309 85,455 Total debt securities 228,597 509 349 228,757 Mortgage-backed securities: Collateralized mortgage obligations: Federal Home Loan Mortgage Corporation 14,519 24 2 14,541 Federal National Mortgage Association 212 25 - 237 Non-agency securities 40 - 1 39 Total collateralized mortgage obligations 14,771 49 3 14,817 Mortgage pass-through securities: Residential pass-through securities: Government National Mortgage Association 8 1 - 9 Federal Home Loan Mortgage Corporation 43,746 88 - 43,834 Federal National Mortgage Association 203,664 2,375 30 206,009 Total residential pass-through securities 247,418 2,464 30 249,852 Commercial pass-through securities: Government National Mortgage Association 10,012 89 - 10,101 Federal National Mortgage Association 157,711 4,281 - 161,992 Total commercial pass-through securities 167,723 4,370 - 172,093 Total mortgage-backed securities 429,912 6,883 33 436,762 Total securities held to maturity $ 658,509 $ 7,392 $ 382 $ 665,519 June 30, 2015 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In Thousands) Securities held to maturity: Debt securities: U.S. agency securities $ 143,334 $ - $ 332 $ 143,002 Obligations of state and political subdivisions 76,528 26 1,190 75,364 Total debt securities 219,862 26 1,522 218,366 Mortgage-backed securities: Collateralized mortgage obligations: Federal Home Loan Mortgage Corporation 15,121 5 - 15,126 Federal National Mortgage Association 221 24 - 245 Non-agency securities 42 - 1 41 Total collateralized mortgage obligations 15,384 29 1 15,412 Mortgage pass-through securities: Residential pass-through securities: Government National Mortgage Association 8 1 - 9 Federal Home Loan Mortgage Corporation 44,905 16 218 44,703 Federal National Mortgage Association 214,150 1,090 338 214,902 Total residential pass-through securities 259,063 1,107 556 259,614 Commercial pass-through securities: Government National Mortgage Association 10,111 32 - 10,143 Federal National Mortgage Association 158,921 1,639 228 160,332 Total commercial pass-through securities 169,032 1,671 228 170,475 Total mortgage-backed securities 443,479 2,807 785 445,501 Total securities held to maturity $ 663,341 $ 2,833 $ 2,307 $ 663,867 |
Securities Held to Maturity [Member] | |
Schedule of Held-to-maturity Securities [Line Items] | |
Stratification by Contractual Maturity of Securities | September 30, 2015 Amortized Cost Fair Value (In Thousands) Debt securities held to maturity: Due in one year or less $ 6,356 $ 6,360 Due after one year through five years 154,535 154,490 Due after five years through ten years 41,391 41,539 Due after ten years 26,315 26,368 Total $ 228,597 $ 228,757 |
Impairment of Securities (Table
Impairment of Securities (Tables) | 3 Months Ended |
Sep. 30, 2015 | |
Securities Available for Sale [Member] | |
Schedule of Fair Values and Gross Unrealized Losses on Investments | The following two tables summarize the fair values and gross unrealized losses within the available for sale and held to maturity portfolios September 30, 2015 Less than 12 Months 12 Months or More Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (In Thousands) Securities Available for Sale: U.S. agency securities $ 1,510 $ 10 $ 673 $ 5 $ 2,183 $ 15 Obligations of state and political subdivisions 7,501 123 3,031 101 10,532 224 Asset-backed securities 60,361 1,969 14,685 561 75,046 2,530 Collateralized loan obligations 43,350 405 69,213 851 112,563 1,256 Corporate bonds 24,487 530 93,590 1,455 118,077 1,985 Trust preferred securities - - 7,064 833 7,064 833 Collateralized mortgage obligations - - 50,649 719 50,649 719 Residential pass-through securities 21 1 48,995 380 49,016 381 Total $ 137,230 $ 3,038 $ 287,900 $ 4,905 $ 425,130 $ 7,943 June 30, 2015 Less than 12 Months 12 Months or More Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (In Thousands) Securities Available for Sale: U.S. agency securities $ 1,533 $ 7 $ 695 $ 4 $ 2,228 $ 11 Obligations of state and political subdivisions 20,575 515 2,943 189 23,518 704 Asset-backed securities 23,855 293 20,067 168 43,922 461 Collateralized loan obligations 49,694 117 59,551 511 109,245 628 Corporate bonds 19,880 120 74,295 754 94,175 874 Trust preferred securities - - 6,734 1,160 6,734 1,160 Collateralized mortgage obligations 5,479 29 52,105 1,197 57,584 1,226 Residential pass-through securities 61,896 1,140 50,513 883 112,409 2,023 Total $ 182,912 $ 2,221 $ 266,903 $ 4,866 $ 449,815 $ 7,087 |
Securities Held to Maturity [Member] | |
Schedule of Fair Values and Gross Unrealized Losses on Investments | September 30, 2015 Less than 12 Months 12 Months or More Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (In Thousands) Securities Held to Maturity: U.S. agency securities $ - $ - $ 94,948 $ 40 $ 94,948 $ 40 Obligations of state and political subdivisions 18,363 99 8,097 210 26,460 309 Collateralized mortgage obligations 4,579 2 39 1 4,618 3 Residential pass-through securities 2,031 30 - - 2,031 30 Total $ 24,973 $ 131 $ 103,084 $ 251 $ 128,057 $ 382 June 30, 2015 Less than 12 Months 12 Months or More Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (In Thousands) Securities Held to Maturity: U.S. agency securities $ - $ - $ 143,002 $ 332 $ 143,002 $ 332 Obligations of state and political subdivisions 56,190 840 7,965 350 64,155 1,190 Collateralized mortgage obligations - - 41 1 41 1 Residential pass-through securities 142,789 556 142,789 556 Commercial pass-through securities 18,792 228 - - 18,792 228 Total $ 217,771 $ 1,624 $ 151,008 $ 683 $ 368,779 $ 2,307 |
Loan Quality and Allowance fo29
Loan Quality and Allowance for Loan Losses (Tables) | 3 Months Ended |
Sep. 30, 2015 | |
Receivables [Abstract] | |
Impaired Loans Acquired Accretable Yield Change | The following table presents the changes in the accretable yield relating to the acquired credit-impaired loans for the three months ended September 30, 2015 and September 30, 2014. Three Months Ended September 30, 2015 2014 (In Thousands) Beginning balance $ 1,189 $ 1,891 Accretion to interest income (105 ) (64 ) Disposals - - Reclassifications from nonaccretable difference - - Ending balance $ 1,084 $ 1,827 |
Allowance for Loan Losses and Loans Receivable | The following tables present the balance of the allowance for loan losses at September 30, 2015 and June 30, 2015 based upon the calculation methodology described above. The tables identify the valuation allowances attributable to specifically identified impairments on individually evaluated loans, including those acquired with deteriorated credit quality, as well as valuation allowances for impairments on loans evaluated collectively. The tables include the underlying balance of loans receivable applicable to each category as of those dates as well as the activity in the allowance for loan losses for the three months ended September 30, 2015 and September 30, 2014. Unless otherwise noted, the balance of loans reported in the tables below excludes yield adjustments and the allowance for loan loss. Allowance for Loan Losses and Loans Receivable at September 30, 2015 Residential Mortgage Commercial Mortgage Construction Commercial Business Home Equity Loans Home Equity Lines of Credit Other Consumer Total (In Thousands) Balance of allowance for loan losses: Originated and purchased loans: Loans individually evaluated for impairment $ 218 $ 142 $ - $ 22 $ 89 $ - $ - $ 471 Loans collectively evaluated for impairment 2,158 12,576 24 969 185 36 26 15,974 Allowance for loan losses on originated and purchased loans 2,376 12,718 24 991 274 36 26 16,445 Loans acquired at fair value: Loans acquired with deteriorated credit quality - - - - - - - - Other acquired loans individually evaluated for impairment - 108 - 171 - 2 - 281 Acquired loans collectively evaluated for impairment 93 355 5 416 37 57 1 964 Allowance for loan losses on loans acquired at fair value 93 463 5 587 37 59 1 1,245 Total allowance for loan losses $ 2,469 $ 13,181 $ 29 $ 1,578 $ 311 $ 95 $ 27 $ 17,690 Allowance for Loan Losses and Loans Receivable Period Ended September 30, 2015 Residential Mortgage Commercial Mortgage Construction Commercial Business Home Equity Loans Home Equity Lines of Credit Other Consumer Total (In Thousands) Changes in the allowance for loan losses for the three months ended September 30, 2015: At June 30, 2015: Allocated $ 2,210 $ 11,120 $ 34 $ 1,860 $ 260 $ 106 $ 16 $ 15,606 Unallocated - - - - - - - - Total allowance for loan losses 2,210 11,120 34 1,860 260 106 16 15,606 Total charge offs (538 ) - - (96 ) - (24 ) - (658 ) Total recoveries - - - 59 41 - 1 101 Total allocated provisions 797 2,061 (5 ) (245 ) 10 13 10 2,641 Total unallocated provisions - - - - - - - - At September 30, 2015: Allocated 2,469 13,181 29 1,578 311 95 27 17,690 Unallocated - - - - - - - - Total allowance for loan losses $ 2,469 $ 13,181 $ 29 $ 1,578 $ 311 $ 95 $ 27 $ 17,690 Allowance for Loan Losses and Loans Receivable Period Ended September 30, 2014 Residential Mortgage Commercial Mortgage Construction Commercial Business Home Equity Loans Home Equity Lines of Credit Other Consumer Total (In Thousands) Changes in the allowance for loan losses for the three months ended September 30, 2014: At June 30, 2014: Allocated $ 2,729 $ 7,737 $ 67 $ 1,284 $ 460 $ 88 $ 22 $ 12,387 Unallocated - - - - - - - - Total allowance for loan losses 2,729 7,737 67 1,284 460 88 22 12,387 Total charge offs (303 ) (346 ) - (192 ) - - - (841 ) Total recoveries - - - 2 - - - 2 Total allocated provisions 149 551 (9 ) 268 (98 ) (4 ) 1 858 Total unallocated provisions - - - - - - - - At September 30, 2014: Allocated 2,575 7,942 58 1,362 362 84 23 12,406 Unallocated - - - - - - - - Total allowance for loan losses $ 2,575 $ 7,942 $ 58 $ 1,362 $ 362 $ 84 $ 23 $ 12,406 Allowance for Loan Losses and Loans Receivable at September 30, 2015 Residential Mortgage Commercial Mortgage Construction Commercial Business Home Equity Loans Home Equity Lines of Credit Other Consumer Total (In Thousands) Balance of loans receivable: Originated and purchased loans: Loans individually evaluated for impairment $ 10,073 $ 3,464 $ - $ 1,024 $ 972 $ 52 $ - $ 15,585 Loans collectively evaluated for impairment 551,063 1,506,880 2,740 69,718 64,902 11,652 4,501 2,211,456 Total originated and purchased loans 561,136 1,510,344 2,740 70,742 65,874 11,704 4,501 2,227,041 Loans acquired at fair value: Loans acquired with deteriorated credit quality 113 314 - 7,816 - - - 8,243 Other acquired loans individually evaluated for impairment - 4,334 2,013 512 476 918 - 8,253 Acquired loans collectively evaluated for impairment 57,958 80,997 333 18,175 4,997 8,856 79 171,395 Total loans acquired at fair value 58,071 85,645 2,346 26,503 5,473 9,774 79 187,891 Total loans $ 619,207 $ 1,595,989 $ 5,086 $ 97,245 $ 71,347 $ 21,478 $ 4,580 2,414,932 Unamortized yield adjustments 2,580 Loans receivable, net of yield adjustments $ 2,417,512 Allowance for Loan Losses and Loans Receivable at June 30, 2015 Residential Mortgage Commercial Mortgage Construction Commercial Business Home Equity Loans Home Equity Lines of Credit Other Consumer Total (In Thousands) Balance of allowance for loan losses: Originated and purchased loans: Loans individually evaluated for impairment $ 116 $ 415 $ - $ 30 $ 12 $ - $ - $ 573 Loans collectively evaluated for impairment 2,031 10,162 29 989 184 33 15 13,443 Allowance for loan losses on originated and purchased loans 2,147 10,577 29 1,019 196 33 15 14,016 Loans acquired at fair value: Loans acquired with deteriorated credit quality - - - 81 - - - 81 Other acquired loans individually evaluated for impairment - 114 - 259 - 24 - 397 Acquired loans collectively evaluated for impairment 63 429 5 501 64 49 1 1,112 Allowance for loan losses on loans acquired at fair value 63 543 5 841 64 73 1 1,590 Total allowance for loan losses $ 2,210 $ 11,120 $ 34 $ 1,860 $ 260 $ 106 $ 16 $ 15,606 Allowance for Loan Losses and Loans Receivable at June 30, 2015 Residential Mortgage Commercial Mortgage Construction Commercial Business Home Equity Loans Home Equity Lines of Credit Other Consumer Total (In Thousands) Balance of loans receivable: Originated and purchased loans: Loans individually evaluated for impairment $ 10,240 $ 3,439 $ - $ 1,861 $ 991 $ 26 $ - $ 16,557 Loans collectively evaluated for impairment 520,070 1,214,586 3,328 69,797 63,034 10,854 4,204 1,885,873 Total originated and purchased loans 530,310 1,218,025 3,328 71,658 64,025 10,880 4,204 1,902,430 Loans acquired at fair value: Loans acquired with deteriorated credit quality 116 318 - 7,929 - - - 8,363 Other acquired loans individually evaluated for impairment - 4,196 2,037 927 534 945 - 8,639 Acquired loans collectively evaluated for impairment 61,895 86,564 346 18,937 5,698 9,589 87 183,116 Total loans acquired at fair value 62,011 91,078 2,383 27,793 6,232 10,534 87 200,118 Total loans $ 592,321 $ 1,309,103 $ 5,711 $ 99,451 $ 70,257 $ 21,414 $ 4,291 2,102,548 Unamortized yield adjustments 316 Loans receivable, net of yield adjustments $ 2,102,864 |
Credit-Rating Classification of Loans Receivable | The following tables present key indicators of credit quality regarding the Company’s loan portfolio based upon loan classification and contractual payment status at September 30, 2015 and June 30, 2015. Credit-Rating Classification of Loans Receivable at September 30, 2015 Residential Mortgage Commercial Mortgage Construction Commercial Business Home Equity Loans Home Equity Lines of Credit Other Consumer Total (In Thousands) Originated and purchased loans: Non-classified $ 549,597 $ 1,505,511 $ 2,594 $ 69,697 $ 64,688 $ 11,603 $ 4,493 $ 2,208,183 Classified: Special Mention 948 361 146 - 54 49 - 1,558 Substandard 10,591 4,381 - 1,045 1,132 52 5 17,206 Doubtful - 91 - - - - 3 94 Loss - - - - - - - - Total classified loans 11,539 4,833 146 1,045 1,186 101 8 18,858 Total originated and purchased loans 561,136 1,510,344 2,740 70,742 65,874 11,704 4,501 2,227,041 Loans acquired at fair value: Non-classified 56,663 79,943 - 14,080 4,872 8,465 54 164,077 Classified: Special Mention 370 123 333 6,538 76 242 21 7,703 Substandard 1,038 5,579 2,013 5,879 525 1,067 4 16,105 Doubtful - - - 6 - - - 6 Loss - - - - - - - - Total classified loans 1,408 5,702 2,346 12,423 601 1,309 25 23,814 Total loans acquired at fair value 58,071 85,645 2,346 26,503 5,473 9,774 79 187,891 Total loans $ 619,207 $ 1,595,989 $ 5,086 $ 97,245 $ 71,347 $ 21,478 $ 4,580 $ 2,414,932 Credit-Rating Classification of Loans Receivable at June 30, 2015 Residential Mortgage Commercial Mortgage Construction Commercial Business Home Equity Loans Home Equity Lines of Credit Other Consumer Total (In Thousands) Originated and purchased loans: Non-classified $ 518,592 $ 1,213,307 $ 3,328 $ 69,662 $ 62,902 $ 10,780 $ 4,201 $ 1,882,772 Classified: Special Mention 955 256 - 58 56 74 - 1,399 Substandard 10,763 4,195 - 1,938 1,067 26 3 17,992 Doubtful - 267 - - - - - 267 Loss - - - - - - - - Total classified loans 11,718 4,718 - 1,996 1,123 100 3 19,658 Total originated and purchased loans 530,310 1,218,025 3,328 71,658 64,025 10,880 4,204 1,902,430 Loans acquired at fair value: Non-classified 60,593 82,068 - 13,749 5,588 9,196 60 171,254 Classified: Special Mention 372 3,425 346 7,617 76 242 24 12,102 Substandard 1,046 5,585 2,037 6,421 568 1,096 3 16,756 Doubtful - - - 6 - - - 6 Loss - - - - - - - - Total classified loans 1,418 9,010 2,383 14,044 644 1,338 27 28,864 Total loans acquired at fair value 62,011 91,078 2,383 27,793 6,232 10,534 87 200,118 Total loans $ 592,321 $ 1,309,103 $ 5,711 $ 99,451 $ 70,257 $ 21,414 $ 4,291 $ 2,102,548 |
Contractual Payment Status of Loans Receivable | Contractual Payment Status of Loans Receivable at September 30, 2015 Residential Mortgage Commercial Mortgage Construction Commercial Business Home Equity Loans Home Equity Lines of Credit Other Consumer Total (In Thousands) Originated and purchased loans: Current $ 554,530 $ 1,508,899 $ 2,740 $ 70,434 $ 65,377 $ 11,562 $ 4,497 $ 2,218,039 Past due: 30-59 days 1,583 65 - - 44 90 - 1,782 60-89 days 614 - - 22 - - 1 637 90+ days 4,409 1,380 - 286 453 52 3 6,583 Total past due 6,606 1,445 - 308 497 142 4 9,002 Total originated and purchased loans 561,136 1,510,344 2,740 70,742 65,874 11,704 4,501 2,227,041 Loans acquired at fair value: Current 57,291 84,076 1,582 24,802 5,194 8,563 72 181,580 Past due: 30-59 days 780 259 - 148 17 12 4 1,220 60-89 days - 438 - - 76 281 1 796 90+ days - 872 764 1,553 186 918 2 4,295 Total past due 780 1,569 764 1,701 279 1,211 7 6,311 Total loans acquired at fair value 58,071 85,645 2,346 26,503 5,473 9,774 79 187,891 Total loans $ 619,207 $ 1,595,989 $ 5,086 $ 97,245 $ 71,347 $ 21,478 $ 4,580 $ 2,414,932 Contractual Payment Status of Loans Receivable at June 30, 2015 Residential Mortgage Commercial Mortgage Construction Commercial Business Home Equity Loans Home Equity Lines of Credit Other Consumer Total (In Thousands) Originated and purchased loans: Current $ 524,780 $ 1,216,644 $ 3,328 $ 70,529 $ 63,457 $ 10,828 $ 4,199 $ 1,893,765 Past due: 30-59 days 420 256 - 23 114 - 4 817 60-89 days 685 - - - - 26 - 711 90+ days 4,425 1,125 - 1,106 454 26 1 7,137 Total past due 5,530 1,381 - 1,129 568 52 5 8,665 Total originated and purchased loans 530,310 1,218,025 3,328 71,658 64,025 10,880 4,204 1,902,430 Loans acquired at fair value: Current 61,895 89,796 1,610 25,721 5,993 9,577 85 194,677 Past due: 30-59 days 116 - - - 134 12 - 262 60-89 days - 468 - - - - 1 469 90+ days - 814 773 2,072 105 945 1 4,710 Total past due 116 1,282 773 2,072 239 957 2 5,441 Total loans acquired at fair value 62,011 91,078 2,383 27,793 6,232 10,534 87 200,118 Total loans $ 592,321 $ 1,309,103 $ 5,711 $ 99,451 $ 70,257 $ 21,414 $ 4,291 $ 2,102,548 |
Performance Status of Loans Receivable | The following tables present information relating to the Company’s nonperforming and impaired loans at September 30, 2015 and June 30, 2015. Loans reported as “90+ days past due accruing” in the table immediately below are also reported in the preceding contractual payment status table under the heading “90+ days past due”. Performance Status of Loans Receivable at September 30, 2015 Residential Mortgage Commercial Mortgage Construction Commercial Business Home Equity Loans Home Equity Lines of Credit Other Consumer Total (In Thousands) Originated and purchased loans: Performing $ 553,431 $ 1,506,945 $ 2,740 $ 69,718 $ 65,421 $ 11,652 $ 4,497 $ 2,214,404 Nonperforming: 90+ days past due accruing - - - - - - - - Nonaccrual 7,705 3,399 - 1,024 453 52 4 12,637 Total nonperforming 7,705 3,399 - 1,024 453 52 4 12,637 Total originated and purchased loans 561,136 1,510,344 2,740 70,742 65,874 11,704 4,501 2,227,041 Loans acquired at fair value: Performing 57,958 81,696 333 24,918 5,181 8,856 77 179,019 Nonperforming: 90+ days past due accruing - - - - - - - - Nonaccrual 113 3,949 2,013 1,585 292 918 2 8,872 Total nonperforming 113 3,949 2,013 1,585 292 918 2 8,872 Total loans acquired at fair value 58,071 85,645 2,346 26,503 5,473 9,774 79 187,891 Total loans $ 619,207 $ 1,595,989 $ 5,086 $ 97,245 $ 71,347 $ 21,478 $ 4,580 $ 2,414,932 Performance Status of Loans Receivable at June 30, 2015 Residential Mortgage Commercial Mortgage Construction Commercial Business Home Equity Loans Home Equity Lines of Credit Other Consumer Total (In Thousands) Originated and purchased loans: Performing $ 522,474 $ 1,214,653 $ 3,328 $ 69,819 $ 63,563 $ 10,854 $ 4,203 $ 1,888,894 Nonperforming: 90+ days past due accruing - - - - - - - - Nonaccrual 7,836 3,372 - 1,839 462 26 1 13,536 Total nonperforming 7,836 3,372 - 1,839 462 26 1 13,536 Total originated and purchased loans 530,310 1,218,025 3,328 71,658 64,025 10,880 4,204 1,902,430 Loans acquired at fair value: Performing 61,895 87,273 346 25,688 5,882 9,589 86 190,759 Nonperforming: 90+ days past due accruing - - - - - - - - Nonaccrual 116 3,805 2,037 2,105 350 945 1 9,359 Total nonperforming 116 3,805 2,037 2,105 350 945 1 9,359 Total loans acquired at fair value 62,011 91,078 2,383 27,793 6,232 10,534 87 200,118 Total loans $ 592,321 $ 1,309,103 $ 5,711 $ 99,451 $ 70,257 $ 21,414 $ 4,291 $ 2,102,548 |
Impairment Status of Loans Receivable | Impairment Status of Loans Receivable at September 30, 2015 Residential Mortgage Commercial Mortgage Construction Commercial Business Home Equity Loans Home Equity Lines of Credit Other Consumer Total (In Thousands) Carrying value of impaired loans: Originated and purchased loans: Non-impaired loans $ 551,063 $ 1,506,880 $ 2,740 $ 69,718 $ 64,902 $ 11,652 $ 4,501 $ 2,211,456 Impaired loans: Impaired loans with no allowance for impairment 7,434 2,062 - 1,002 880 52 - 11,430 Impaired loans with allowance for impairment: Recorded investment 2,639 1,402 - 22 92 - - 4,155 Allowance for impairment (218 ) (142 ) - (22 ) (89 ) - - (471 ) Balance of impaired loans net of allowance for impairment 2,421 1,260 - - 3 - - 3,684 Total impaired loans, excluding allowance for impairment: 10,073 3,464 - 1,024 972 52 - 15,585 Total originated and purchased loans 561,136 1,510,344 2,740 70,742 65,874 11,704 4,501 2,227,041 Loans acquired at fair value: Non-impaired loans 57,958 80,997 333 18,175 4,997 8,856 79 171,395 Impaired loans: Impaired loans with no allowance for impairment 113 4,213 2,013 8,192 476 484 - 15,491 Impaired loans with allowance for impairment: Recorded investment - 435 - 136 - 434 - 1,005 Allowance for impairment - (108 ) - (171 ) - (2 ) - (281 ) Balance of impaired loans net of allowance for impairment - 327 - (35 ) - 432 - 724 Total impaired loans, excluding allowance for impairment: 113 4,648 2,013 8,328 476 918 - 16,496 Total loans acquired at fair value 58,071 85,645 2,346 26,503 5,473 9,774 79 187,891 Total loans $ 619,207 $ 1,595,989 $ 5,086 $ 97,245 $ 71,347 $ 21,478 $ 4,580 $ 2,414,932 Unpaid principal balance of impaired loans: Originated and purchased loans $ 16,594 $ 4,160 $ - $ 1,079 $ 995 $ 52 $ - $ 22,880 Loans acquired at fair value 146 4,954 2,113 9,794 499 975 - 18,481 Total impaired loans $ 16,740 $ 9,114 $ 2,113 $ 10,873 $ 1,494 $ 1,027 $ - $ 41,361 Impairment Status of Loans Receivable at June 30, 2015 Residential Mortgage Commercial Mortgage Construction Commercial Business Home Equity Loans Home Equity Lines of Credit Other Consumer Total (In Thousands) Carrying value of impaired loans: Originated and purchased loans: Non-impaired loans $ 520,070 $ 1,214,586 $ 3,328 $ 69,797 $ 63,034 $ 10,854 $ 4,204 $ 1,885,873 Impaired loans: Impaired loans with no allowance for impairment 8,387 1,777 - 1,418 905 26 - 12,513 Impaired loans with allowance for impairment: Recorded investment 1,853 1,662 - 443 86 - - 4,044 Allowance for impairment (116 ) (415 ) - (30 ) (12 ) - - (573 ) Balance of impaired loans net of allowance for impairment 1,737 1,247 - 413 74 - - 3,471 Total impaired loans, excluding allowance for impairment: 10,240 3,439 - 1,861 991 26 - 16,557 Total originated and purchased loans 530,310 1,218,025 3,328 71,658 64,025 10,880 4,204 1,902,430 Loans acquired at fair value: Non-impaired loans 61,895 86,564 346 18,937 5,698 9,589 87 183,116 Impaired loans: Impaired loans with no allowance for impairment 116 4,072 2,037 8,214 534 488 - 15,461 Impaired loans with allowance for impairment: Recorded investment - 442 - 642 - 457 - 1,541 Allowance for impairment - (114 ) - (340 ) - (24 ) - (478 ) Balance of impaired loans net of allowance for impairment - 328 - 302 - 433 - 1,063 Total impaired loans, excluding allowance for impairment: 116 4,514 2,037 8,856 534 945 - 17,002 Total loans acquired at fair value 62,011 91,078 2,383 27,793 6,232 10,534 87 200,118 Total loans $ 592,321 $ 1,309,103 $ 5,711 $ 99,451 $ 70,257 $ 21,414 $ 4,291 $ 2,102,548 Unpaid principal balance of impaired loans: Originated and purchased loans $ 16,985 $ 4,103 $ - $ 2,036 $ 1,014 $ 26 $ - $ 24,164 Loans acquired at fair value 147 4,759 2,118 10,506 561 975 - 19,066 Total impaired loans $ 17,132 $ 8,862 $ 2,118 $ 12,542 $ 1,575 $ 1,001 $ - $ 43,230 Impairment Status of Loans Receivable Period Ended September 30, 2015 and 2014 Residential Mortgage Commercial Mortgage Construction Commercial Business Home Equity Loans Home Equity Lines of Credit Other Consumer Total (In Thousands) For the three months ended September 30, 2015: Average balance of impaired loans $ 10,037 $ 7,973 $ 2,025 $ 10,290 $ 1,519 $ 958 $ - $ 32,802 Interest earned on impaired loans $ 70 $ 12 $ - $ 217 $ 14 $ - $ - $ 313 For the three months ended September 30, 2014: Average balance of impaired loans $ 13,169 $ 8,407 $ 1,432 $ 11,903 $ 1,639 $ 1,055 $ - $ 37,605 Interest earned on impaired loans $ 29 $ 46 $ - $ 189 $ 11 $ - $ - $ 275 |
Troubled Debt Restructurings of Loans Receivable | The following table presents information regarding the restructuring of the Company’s troubled debts during the three months ended September 30, 2015 and 2014 and any defaults during those periods of TDRs that were restructured within 12 months of the date of default. Troubled Debt Restructurings of Loans Receivable Period Ended September 30, 2015 Residential Mortgage Commercial Mortgage Construction Commercial Business Home Equity Loans Home Equity Lines of Credit Other Consumer Total (In Thousands) Troubled debt restructuring activity for the three months ended September 30, 2015 Originated and purchased loans Number of loans 2 - - - - - - 2 Pre-modification outstanding recorded investment $ 693 $ - $ - $ - $ - $ - $ - $ 693 Post-modification outstanding recorded investment 431 - - - - - - $ 431 Charge offs against the allowance for loan loss recognized at modification 231 - - - - - - $ 231 Loans acquired at fair value Number of loans - 3 - - - - - 3 Pre-modification outstanding recorded investment $ - $ 2,285 $ - $ - $ - $ - $ - $ 2,285 Post-modification outstanding recorded investment - 2,290 - - - - - $ 2,290 Charge offs against the allowance for loan loss recognized at modification - - - - - - - $ - Troubled debt restructuring defaults for the three months ended September 30, 2015 Originated and purchased loans Number of loans - - - - - - - - Outstanding recorded investment $ - $ - $ - $ - $ - $ - $ - $ - Loans acquired at fair value Number of loans - - - - - - - - Outstanding recorded investment $ - $ - $ - $ - $ - $ - $ - $ - Troubled Debt Restructurings of Loans Receivable Period Ended September 30, 2014 Residential Mortgage Commercial Mortgage Construction Commercial Business Home Equity Loans Home Equity Lines of Credit Other Consumer Total (In Thousands) Troubled debt restructuring activity for the three months ended September 30, 2014 Originated and purchased loans Number of loans 2 - - - - - - 2 Pre-modification outstanding recorded investment $ 664 $ - $ - $ - $ - $ - $ - $ 664 Post-modification outstanding recorded investment 673 - - - - - - $ 673 Charge offs against the allowance for loan loss recognized at modification 33 - - - - - - $ 33 Loans acquired at fair value Number of loans - - - - - - - - Pre-modification outstanding recorded investment $ - $ - $ - $ - $ - $ - $ - $ - Post-modification outstanding recorded investment - - - - - - - $ - Charge offs against the allowance for loan loss recognized at modification - - - - - - - $ - Troubled debt restructuring defaults for the three months ended September 30, 2014 Originated and purchased loans Number of loans - - - - - - - - Outstanding recorded investment $ - $ - $ - $ - $ - $ - $ - $ - Loans acquired at fair value Number of loans - - - - - - - - Outstanding recorded investment $ - $ - $ - $ - $ - $ - $ - $ - |
Borrowings (Tables)
Borrowings (Tables) | 3 Months Ended |
Sep. 30, 2015 | |
Debt Disclosure [Abstract] | |
Schedule of Fixed Rate Advances from FHLB | Fixed rate advances from the FHLB of New York mature as follows: September 30, 2015 June 30, 2015 Balance Weighted Average Interest Rate Balance Weighted Average Interest Rate (Dollars in Thousands) Maturing in years ending June 30: 2016 $ 432,500 0.51 % $ 382,500 0.41 % 2017 3,000 1.05 3,000 1.05 2018 5,225 1.18 5,225 1.18 2021 647 4.94 671 4.94 2023 145,000 3.04 145,000 3.04 Total borrowings 586,372 1.15 % 536,396 1.13 % Fair value adjustments 4 9 Total borrowings, net of fair value adjustments $ 586,376 $ 536,405 |
Derivative Instruments and He31
Derivative Instruments and Hedging Activities (Tables) | 3 Months Ended |
Sep. 30, 2015 | |
Derivative Instruments And Hedging Activities Disclosure [Abstract] | |
Schedule of Interest Rate Derivatives | The effects of derivative instruments on the statements of condition included in the Consolidated Financial Statements at September 30, 2015 and June 30, 2015 and for the three months ended September 30, 2015 and September 30, 2014 are as follows: September 30, 2015 Notional/ Contract Amount Fair Value Balance Sheet Location Expiration Date (Dollars in Thousands) Derivatives designated as hedging instruments Interest rate swaps by effective date: July 1, 2013 $ 165,000 $ (2,010 ) Other liabilities July 1, 2018 August 19, 2013 75,000 (1,747 ) Other liabilities August 20, 2018 October 9, 2013 50,000 (866 ) Other liabilities October 9, 2018 March 28, 2014 75,000 (2,224 ) Other liabilities March 28, 2019 June 5, 2015 60,000 (2,791 ) Other liabilities June 5, 2020 July 28, 2015 50,000 (2,703 ) Other liabilities July 28, 2020 September 28, 2015 40,000 (2,277 ) Other liabilities September 28, 2020 December 28, 2015 35,000 (2,041 ) Other liabilities December 28, 2020 550,000 (16,659 ) Interest rate caps by effective date: June 5, 2013 40,000 209 Other liabilities June 5, 2018 July 1, 2013 35,000 181 Other liabilities July 1, 2018 75,000 390 Total $ 625,000 $ (16,269 ) June 30, 2015 Notional/ Contract Amount Fair Value Balance Sheet Location Expiration Date (Dollars in Thousands) Derivatives designated as hedging instruments Interest rate swaps by effective date: July 1, 2013 $ 165,000 $ (768 ) Other liabilities July 1, 2018 August 19, 2013 75,000 (1,149 ) Other liabilities August 20, 2018 October 9, 2013 50,000 (400 ) Other liabilities October 9, 2018 March 28, 2014 75,000 (1,372 ) Other liabilities March 28, 2019 June 5, 2015 60,000 (1,717 ) Other liabilities June 5, 2020 July 28, 2015 50,000 (1,697 ) Other liabilities July 28, 2020 September 28, 2015 40,000 (1,289 ) Other liabilities September 28, 2020 December 28, 2015 35,000 (1,119 ) Other liabilities December 28, 2020 550,000 (9,511 ) Interest rate caps by effective date: June 5, 2013 40,000 428 Other liabilities June 5, 2018 July 1, 2013 35,000 366 Other liabilities July 1, 2018 75,000 794 Total $ 625,000 $ (8,717 ) Three Months Ended September 30, 2015 Amount of Loss Recognized in OCI on Derivatives, net of Tax (Effective Portion) Location of Gain (Loss) Recognized in Income of Derivatives (Ineffective Portion) Amount of Gain (Loss) Recognized in Income of Derivatives (Ineffective Portion) (Dollars in Thousands) Derivatives in cash flow hedges Interest rate swaps by effective date: July 1, 2013 $ (735 ) Not applicable $ - August 19, 2013 (354 ) Not applicable - October 9, 2013 (275 ) Not applicable - March 28, 2014 (504 ) Not applicable - June 5, 2015 (635 ) Not applicable - July 28, 2015 (595 ) Not applicable - September 28, 2015 (585 ) Not applicable - December 28, 2015 (545 ) Not applicable - (4,228 ) - Interest rate caps by effective date: June 5, 2013 (110 ) Not applicable - July 1, 2013 (94 ) Not applicable - (204 ) - Total $ (4,432 ) $ - Three Months Ended September 30, 2014 Amount of Loss Recognized in OCI on Derivatives, net of Tax (Effective Portion) Location of Gain (Loss) Recognized in Income of Derivatives (Ineffective Portion) Amount of Gain (Loss) Recognized in Income of Derivatives (Ineffective Portion) (Dollars in Thousands) Derivatives in cash flow hedges Interest rate swaps by effective date: July 1, 2013 $ 645 Not applicable $ - August 19, 2013 405 Not applicable - October 9, 2013 265 Not applicable - March 28, 2014 421 Not applicable - June 5, 2015 133 Not applicable - July 28, 2015 (126 ) Not applicable - September 28, 2015 (53 ) Not applicable - December 28, 2015 (52 ) Not applicable - 1,638 - Interest rate caps by effective date: June 5, 2013 53 Not applicable - July 1, 2013 31 Not applicable - 84 - Total $ 1,722 $ - |
Benefit Plans (Tables)
Benefit Plans (Tables) | 3 Months Ended |
Sep. 30, 2015 | |
Compensation And Retirement Disclosure [Abstract] | |
Schedule of Net Periodic Benefit Expense | The following table sets forth the aggregate net periodic benefit expense for the Bank’s Benefit Equalization Plan, Postretirement Welfare Plan, Directors’ Consultation and Retirement Plan and Atlas Bank Retirement Income Plan: Three Months Ended September 30, 2015 2014 (In Thousands) Service cost $ 59 $ 57 Interest cost 121 82 Amortization of unrecognized past service liability 9 12 Amortization of unrecognized loss 9 7 Expected return on assets (64 ) - Net periodic benefit cost $ 134 $ 158 |
Fair Value of Financial Instr33
Fair Value of Financial Instruments (Tables) | 3 Months Ended |
Sep. 30, 2015 | |
Fair Value Disclosures [Abstract] | |
Schedule of Assets and Liabilities Measured At Fair Value on a Recurring Basis | Those assets and liabilities measured at fair value on a recurring basis are summarized below: September 30, 2015 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total (In Thousands) Debt securities available for sale: U.S. agency securities $ - $ 7,159 $ - $ 7,159 Obligations of state and political subdivisions - 27,466 - 27,466 Asset-backed securities - 85,178 - 85,178 Collateralized loan obligations - 127,412 - 127,412 Corporate bonds - 161,174 - 161,174 Trust preferred securities - 8,081 - 8,081 Total debt securities - 416,470 - 416,470 Mortgage-backed securities available for sale: Collateralized mortgage obligations - 69,313 - 69,313 Residential pass-through securities - 250,505 - 250,505 Commercial pass-through securities - 9,492 - 9,492 Total mortgage-backed securities - 329,310 - 329,310 Total securities available for sale $ - $ 745,780 $ - $ 745,780 Derivative instruments Interest rate swaps $ - $ (16,659 ) $ - $ (16,659 ) Interest rate caps - 390 - 390 Total derivatives $ - $ (16,269 ) $ - $ (16,269 ) June 30, 2015 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total (In Thousands) Debt securities available for sale: U.S. agency securities $ - $ 7,263 $ - $ 7,263 Obligations of state and political subdivisions - 26,835 - 26,835 Asset-backed securities - 88,032 - 88,032 Collateralized loan obligations - 128,171 - 128,171 Corporate bonds - 162,608 - 162,608 Trust preferred securities - 7,751 - 7,751 Total debt securities - 420,660 - 420,660 Mortgage-backed securities available for sale: Collateralized mortgage obligations - 71,877 - 71,877 Residential pass-through securities - 263,613 - 263,613 Commercial pass-through securities - 11,129 - 11,129 Total mortgage-backed securities - 346,619 - 346,619 Total securities available for sale $ - $ 767,279 $ - $ 767,279 Derivative instruments Interest rate swaps $ - $ (9,511 ) $ - $ (9,511 ) Interest rate caps - 794 - 794 Total derivatives $ - $ (8,717 ) $ - $ (8,717 ) |
Schedule of Assets and Liabilities Measured At Fair Value on a Non-recurring Basis | Those assets and liabilities measured at fair value on a non-recurring basis are summarized below: September 30, 2015 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total (In Thousands) Impaired loans $ - $ - $ 8,636 $ 8,636 June 30, 2015 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total (In Thousands) Impaired loans $ - $ - $ 9,742 $ 9,742 Real estate owned $ - $ - $ 547 $ 547 |
Schedule of Quantitative Information about Level 3 Fair Value Measurements | The following table presents additional quantitative information about assets measured at fair value on a non-recurring basis and for which the Company has utilized adjusted Level 3 inputs to determine fair value: September 30, 2015 Fair Value Valuation Techniques Unobservable Input Range Weighted Average (In Thousands) Impaired loans $ 8,636 Market valuation of underlying collateral (1) Direct disposal costs (2) 6% - 10% 8.21 % June 30, 2015 Fair Value Valuation Techniques Unobservable Input Range Weighted Average (In Thousands) Impaired loans $ 9,742 Market valuation of underlying collateral (1) Direct disposal costs (2) 6% - 10% 9.45 % Real estate owned $ 547 Market valuation of property (3) Direct disposal costs (2) 8% 8.00 % _____________________________ (1) The fair value of impaired loans is generally determined based on an independent appraisal of the market value of a loan’s underlying collateral. (2 ) The fair value basis of impaired loans and real estate owned is adjusted to reflect management estimates of disposal costs including, but not necessarily limited to, real estate brokerage commissions and title transfer fees, with such cost estimates generally ranging from 6% to 10% of collateral or property market value. (3) The fair value basis of real estate owned is generally determined based upon the lower of an independent appraisal of the property’s market value or the applicable listing price or contracted sales price. |
Schedule of Carrying Amounts and Fair Values of Financial Instruments | The carrying amounts and fair values of financial instruments are as follows: September 30, 2015 Carrying Amount Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (In Thousands) Financial assets: Cash and cash equivalents $ 102,630 $ 102,630 $ 102,630 $ - $ - Debt securities available for sale 416,470 416,470 - 416,470 - Mortgage-backed securities available for sale 329,310 329,310 - 329,310 - Debt securities held to maturity 228,597 228,757 - 228,757 - Mortgage-backed securities held to maturity 429,912 436,762 - 436,762 - Loans receivable 2,399,822 2,382,594 - - 2,382,594 FHLB Stock 29,717 29,717 - - 29,717 Interest receivable 11,058 11,058 11,058 - - Financial liabilities: Deposits (1) 2,463,890 2,474,572 1,450,660 - 1,023,912 Borrowings 628,351 643,227 - - 643,227 Interest payable on borrowings 1,114 1,114 1,114 - - Derivative instruments: Interest rate swaps (16,659 ) (16,659 ) - (16,659 ) - Interest rate caps 390 390 - 390 - ___________________________________ (1) Includes accrued interest payable on deposits of $78,000 at September 30, 2015. June 30, 2015 Carrying Amount Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (In Thousands) Financial assets: Cash and cash equivalents $ 340,136 $ 340,136 $ 340,136 $ - $ - Debt securities available for sale 420,660 420,660 - 420,660 - Mortgage-backed securities available for sale 346,619 346,619 - 346,619 - Debt securities held to maturity 219,862 218,366 - 218,366 - Mortgage-backed securities held to maturity 443,479 445,501 - 445,501 - Loans receivable 2,087,258 2,069,209 - - 2,069,209 FHLB Stock 27,468 27,468 - - 27,468 Interest receivable 9,873 9,873 9,873 - - Financial liabilities: Deposits (1) 2,465,650 2,476,425 1,463,974 - 1,012,451 Borrowings 571,499 585,209 - - 585,209 Interest payable on borrowings 1,020 1,020 1,020 - - Derivative instruments: Interest rate swaps (9,511 ) (9,511 ) - (9,511 ) - Interest rate caps 794 794 - 794 - ___________________________________ (1) Includes accrued interest payable on deposits of $80,000 at June 30, 2015. |
Comprehensive Loss (Tables)
Comprehensive Loss (Tables) | 3 Months Ended |
Sep. 30, 2015 | |
Equity [Abstract] | |
Schedule of Accumulated Other Comprehensive Loss | The components of accumulated other comprehensive loss included in stockholders’ equity at September 30, 2015 and June 30, 2015 are as follows: September 30, 2015 June 30, 2015 (In Thousands) Net unrealized loss on securities available for sale $ (1,598 ) $ (147 ) Tax effect 660 (108 ) Net of tax amount (938 ) (255 ) Net unrealized loss on securities available for sale transferred to held to maturity (1,095 ) (1,065 ) Tax effect 448 435 Net of tax amount (647 ) (630 ) Fair value adjustments on derivatives (18,622 ) (11,130 ) Tax effect 7,607 4,547 Net of tax amount (11,015 ) (6,583 ) Benefit plan adjustments (1,388 ) (494 ) Tax effect 567 201 Net of tax amount (821 ) (293 ) Total accumulated other comprehensive loss $ (13,421 ) $ (7,761 ) |
Schedule of Comprehensive Loss | Other comprehensive loss and related tax effects for the months ended September 30, 2015 and September 30, 2014 are presented in the following table: Three Months Ended September 30, 2015 2014 (In Thousands) Net unrealized holding loss on securities available for sale $ (1,452 ) $ (3,071 ) Amortization of unrealized holding loss on securities available for sale transferred to held to maturity (3) (30 ) 2 Net unrealized (loss) gain on derivatives (7,492 ) 2,911 Benefit plans: Amortization of: Actuarial loss (1) 9 7 Past service cost (1) 9 12 New actuarial loss (911 ) (363 ) Net change in benefit plan accrued expense (893 ) (344 ) Other comprehensive loss before taxes (9,867 ) (502 ) Tax effect (2) 4,207 (8 ) Total other comprehensive loss $ (5,660 ) $ (510 ) _______________________________________________ (1) Represents amounts reclassified out of accumulated other comprehensive income and included in the computation of net periodic pension expense. See Note 14 – Benefit Plans for additional information. (2) The amounts included in income taxes for items reclassified out of accumulated other comprehensive income totaled $(365) for the three ended September 30, 2015 and $(9) three months ended September 30, 2014, respectively. (3) Represents amounts reclassified out of accumulated other comprehensive income and included in interest income on taxable securities. |
Net Income Per Common Share (EP
Net Income Per Common Share (EPS) - Reconciliation of Numerators and Denominators of Basic and Diluted Earnings Per Share Computations (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
Earnings Per Share [Abstract] | ||
Income (Numerator): Net income | $ 2,976 | $ 2,923 |
Income (Numerator): Basic earnings per share, income available to common stockholders | 2,976 | 2,923 |
Income (Numerator): Diluted earnings per share | $ 2,976 | $ 2,923 |
Shares (Denominator): Basic earnings per share, income available to common stockholders | 89,590 | 92,452 |
Shares (Denominator): Stock options | 29 | 547 |
Shares (Denominator): Diluted earnings per share | 89,619 | 92,999 |
Per Share Amount: Basic earnings per share, income available to common stockholders | $ 0.03 | $ 0.03 |
Per Share Amount: Diluted earnings per share | $ 0.03 | $ 0.03 |
Net Income Per Common Share (36
Net Income Per Common Share (EPS) - Additional Information (Detail) - shares | 3 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
Stock Options [Member] | ||
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items] | ||
Average number of options anti-dilutive | 276,080 | 255,374 |
Plan of Conversion and Stock 37
Plan of Conversion and Stock Offering - Additional Information (Detail) $ / shares in Units, $ in Millions | May. 18, 2015USD ($)$ / sharesshares | May. 05, 2015USD ($)shares | Sep. 30, 2015USD ($)shares | Jun. 30, 2015shares |
Plan Of Reorganization [Abstract] | ||||
Number of common stock issued for funding of KeamyBank Foundation | shares | 500,000 | 500,000 | ||
Cash contribution to KeamyBank Foundation | $ 5 | $ 5 | ||
Number of common stock shares sold | shares | 71,750,000 | |||
Common stock price | $ / shares | $ 10 | |||
Proceeds from common stock shares sold | $ 717.5 | |||
Stock issued during period, value, Employee Stock Ownership Plan | shares | 3,612,500 | |||
Stock issued during period, shares, Employee Stock Ownership Plan | $ 36.1 | |||
Value of the additional common stock shares issued | $ 5 | |||
Conversion and public offering costs | $ 10.7 | |||
Increase in equity capital | 670.7 | |||
Additional investment in bank's common equity | $ 353.4 | |||
Common stock, shares outstanding | shares | 93,528,092 | 93,528,092 | ||
Share exchange shares exchanged | shares | 21,278,092 | |||
Stock exchange ratio | 1.3804 |
Securities Available for Sale -
Securities Available for Sale - Amortized Cost, Gross Unrealized Gains and Losses and Fair Values of Securities (Detail) - USD ($) $ in Thousands | Sep. 30, 2015 | Jun. 30, 2015 |
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale, Amortized Cost | $ 422,789 | $ 422,903 |
Securities available for sale, Fair value | 416,470 | 420,660 |
Securities available for sale, Amortized Cost | 747,378 | 767,426 |
Securities available for sale, Fair value | 745,780 | 767,279 |
Securities available for sale, Gross Unrealized Gains | 6,345 | 6,940 |
Securities available for sale, Gross Unrealized Losses | 7,943 | 7,087 |
Residential Pass-Through Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale, Amortized Cost | 245,529 | 260,376 |
Mortgage-backed securities, Gross Unrealized Gains | 5,357 | 5,260 |
Mortgage-backed securities, Gross Unrealized Losses | 381 | 2,023 |
Securities available for sale, Fair value | 250,505 | 263,613 |
Commercial Pass-Through Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale, Amortized Cost | 9,266 | 11,066 |
Mortgage-backed securities, Gross Unrealized Gains | 226 | 63 |
Securities available for sale, Fair value | 9,492 | 11,129 |
Residential Pass-Through Securities: Government National Mortgage Association [Member] | Residential Pass-Through Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale, Amortized Cost | 2,290 | 2,430 |
Mortgage-backed securities, Gross Unrealized Gains | 208 | 225 |
Mortgage-backed securities, Gross Unrealized Losses | 1 | |
Securities available for sale, Fair value | 2,497 | 2,655 |
Residential Pass-Through Securities: Federal Home Loan Mortgage Corporation [Member] | Residential Pass-Through Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale, Amortized Cost | 147,342 | 155,522 |
Mortgage-backed securities, Gross Unrealized Gains | 2,393 | 2,286 |
Mortgage-backed securities, Gross Unrealized Losses | 242 | 1,358 |
Securities available for sale, Fair value | 149,493 | 156,450 |
Residential Pass-Through Securities: Federal National Mortgage Association [Member] | Residential Pass-Through Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale, Amortized Cost | 95,897 | 102,424 |
Mortgage-backed securities, Gross Unrealized Gains | 2,756 | 2,749 |
Mortgage-backed securities, Gross Unrealized Losses | 138 | 665 |
Securities available for sale, Fair value | 98,515 | 104,508 |
Commercial Pass-Through Securities: Federal National Mortgage Association [Member] | Commercial Pass-Through Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale, Amortized Cost | 9,266 | 11,066 |
Mortgage-backed securities, Gross Unrealized Gains | 226 | 63 |
Securities available for sale, Fair value | 9,492 | 11,129 |
Mortgage-Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale, Amortized Cost | 324,589 | 344,523 |
Mortgage-backed securities, Gross Unrealized Gains | 5,821 | 5,345 |
Mortgage-backed securities, Gross Unrealized Losses | 1,100 | 3,249 |
Securities available for sale, Fair value | 329,310 | 346,619 |
Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale, Amortized Cost | 422,789 | 422,903 |
Securities available for sale, Gross Unrealized Gains | 524 | 1,595 |
Securities available for sale, Gross Unrealized Losses | 6,843 | 3,838 |
Securities available for sale, Fair value | 416,470 | 420,660 |
Debt Securities [Member] | U.S. Agency Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale, Amortized Cost | 7,063 | 7,208 |
Securities available for sale, Gross Unrealized Gains | 111 | 66 |
Securities available for sale, Gross Unrealized Losses | 15 | 11 |
Securities available for sale, Fair value | 7,159 | 7,263 |
Debt Securities [Member] | Obligations of State and Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale, Amortized Cost | 27,507 | 27,513 |
Securities available for sale, Gross Unrealized Gains | 183 | 26 |
Securities available for sale, Gross Unrealized Losses | 224 | 704 |
Securities available for sale, Fair value | 27,466 | 26,835 |
Debt Securities [Member] | Asset-backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale, Amortized Cost | 87,646 | 87,614 |
Securities available for sale, Gross Unrealized Gains | 62 | 879 |
Securities available for sale, Gross Unrealized Losses | 2,530 | 461 |
Securities available for sale, Fair value | 85,178 | 88,032 |
Debt Securities [Member] | Corporate Bonds [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale, Amortized Cost | 163,042 | 163,049 |
Securities available for sale, Gross Unrealized Gains | 117 | 433 |
Securities available for sale, Gross Unrealized Losses | 1,985 | 874 |
Securities available for sale, Fair value | 161,174 | 162,608 |
Debt Securities [Member] | Trust Preferred Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale, Amortized Cost | 8,898 | 8,895 |
Securities available for sale, Gross Unrealized Gains | 16 | 16 |
Securities available for sale, Gross Unrealized Losses | 833 | 1,160 |
Securities available for sale, Fair value | 8,081 | 7,751 |
Debt Securities [Member] | Collateralized Loan Obligations [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale, Amortized Cost | 128,633 | 128,624 |
Securities available for sale, Gross Unrealized Gains | 35 | 175 |
Securities available for sale, Gross Unrealized Losses | 1,256 | 628 |
Securities available for sale, Fair value | 127,412 | 128,171 |
Collateralized Mortgage Obligations [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale, Amortized Cost | 69,794 | 73,081 |
Mortgage-backed securities, Gross Unrealized Gains | 238 | 22 |
Mortgage-backed securities, Gross Unrealized Losses | 719 | 1,226 |
Securities available for sale, Fair value | 69,313 | 71,877 |
Collateralized Mortgage Obligations [Member] | Federal Home Loan Mortgage Corporation [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale, Amortized Cost | 25,776 | 27,392 |
Mortgage-backed securities, Gross Unrealized Gains | 174 | 10 |
Mortgage-backed securities, Gross Unrealized Losses | 150 | 324 |
Securities available for sale, Fair value | 25,800 | 27,078 |
Collateralized Mortgage Obligations [Member] | Federal National Mortgage Association [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale, Amortized Cost | 43,867 | 45,522 |
Mortgage-backed securities, Gross Unrealized Gains | 64 | 12 |
Mortgage-backed securities, Gross Unrealized Losses | 568 | 900 |
Securities available for sale, Fair value | 43,363 | 44,634 |
Collateralized Mortgage Obligations [Member] | Non-Agency Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Securities available for sale, Amortized Cost | 151 | 167 |
Mortgage-backed securities, Gross Unrealized Losses | 1 | 2 |
Securities available for sale, Fair value | $ 150 | $ 165 |
Securities Available for Sale39
Securities Available for Sale - Stratification by Contractual Maturity of Securities (Detail) - USD ($) $ in Thousands | Sep. 30, 2015 | Jun. 30, 2015 |
Investments Debt And Equity Securities [Abstract] | ||
Due in one year or less, Amortized Cost | $ 20,007 | |
Due after one year through five years, Amortized Cost | 50,778 | |
Due after five years through ten years, Amortized Cost | 155,585 | |
Due after ten years, Amortized Cost | 196,419 | |
Securities available for sale, Amortized Cost | 422,789 | $ 422,903 |
Due in one year or less, Fair Value | 20,053 | |
Due after one year through five years, Fair Value | 50,098 | |
Due after five years through ten years, Fair Value | 153,828 | |
Due after ten years, Fair Value | 192,491 | |
Fair Value | $ 416,470 | $ 420,660 |
Securities Available for Sale40
Securities Available for Sale - Additional Information (Detail) - USD ($) | 3 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Jun. 30, 2015 | |
Schedule of Available-for-sale Securities [Line Items] | |||
Proceeds from sales of debt securities available for sale | $ 0 | $ 0 | |
Securities Available for Sale [Member] | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Securities available for sale pledged as collateral for borrowings Federal Home Loan Bank | 54,500,000 | $ 58,300,000 | |
Available for sale securities pledged to secure public funds on deposit | $ 1,200,000 | $ 1,400,000 |
Securities Held to Maturity - A
Securities Held to Maturity - Amortized Cost, Gross Unrealized Gains and Losses and Fair Values of Securities (Detail) - USD ($) $ in Thousands | Sep. 30, 2015 | Jun. 30, 2015 |
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | $ 228,597 | $ 219,862 |
Gross Unrealized Gains | 7,392 | 2,833 |
Gross Unrealized Losses | 382 | 2,307 |
Fair Value | 228,757 | 218,366 |
Securities held to maturity | 658,509 | 663,341 |
Fair Value | 665,519 | 663,867 |
Residential Pass-Through Securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Securities held to maturity | 247,418 | 259,063 |
Gross Unrealized Gains | 2,464 | 1,107 |
Gross Unrealized Losses | 30 | 556 |
Fair Value | 249,852 | 259,614 |
Commercial Pass-Through Securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Securities held to maturity | 167,723 | 169,032 |
Gross Unrealized Gains | 4,370 | 1,671 |
Gross Unrealized Losses | 228 | |
Fair Value | 172,093 | 170,475 |
Residential Pass-Through Securities: Government National Mortgage Association [Member] | Residential Pass-Through Securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Securities held to maturity | 8 | 8 |
Gross Unrealized Gains | 1 | 1 |
Fair Value | 9 | 9 |
Residential Pass-Through Securities: Federal Home Loan Mortgage Corporation [Member] | Residential Pass-Through Securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Securities held to maturity | 43,746 | 44,905 |
Gross Unrealized Gains | 88 | 16 |
Gross Unrealized Losses | 218 | |
Fair Value | 43,834 | 44,703 |
Residential Pass-Through Securities: Federal National Mortgage Association [Member] | Residential Pass-Through Securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Securities held to maturity | 203,664 | 214,150 |
Gross Unrealized Gains | 2,375 | 1,090 |
Gross Unrealized Losses | 30 | 338 |
Fair Value | 206,009 | 214,902 |
Commercial Pass-Through Securities: Government National Mortgage Association [Member] | Commercial Pass-Through Securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Securities held to maturity | 10,012 | 10,111 |
Gross Unrealized Gains | 89 | 32 |
Fair Value | 10,101 | 10,143 |
Commercial Pass-Through Securities: Federal National Mortgage Association [Member] | Commercial Pass-Through Securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Securities held to maturity | 157,711 | 158,921 |
Gross Unrealized Gains | 4,281 | 1,639 |
Gross Unrealized Losses | 228 | |
Fair Value | 161,992 | 160,332 |
Mortgage-Backed Securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Securities held to maturity | 429,912 | 443,479 |
Gross Unrealized Gains | 6,883 | 2,807 |
Gross Unrealized Losses | 33 | 785 |
Fair Value | 436,762 | 445,501 |
Debt Securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | 228,597 | 219,862 |
Gross Unrealized Gains | 509 | 26 |
Gross Unrealized Losses | 349 | 1,522 |
Fair Value | 228,757 | 218,366 |
Debt Securities [Member] | U.S. Agency Securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | 143,335 | 143,334 |
Gross Unrealized Gains | 7 | |
Gross Unrealized Losses | 40 | 332 |
Fair Value | 143,302 | 143,002 |
Debt Securities [Member] | Obligations of State and Political Subdivisions [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | 85,262 | 76,528 |
Gross Unrealized Gains | 502 | 26 |
Gross Unrealized Losses | 309 | 1,190 |
Fair Value | 85,455 | 75,364 |
Collateralized Mortgage Obligations [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Securities held to maturity | 14,771 | 15,384 |
Gross Unrealized Gains | 49 | 29 |
Gross Unrealized Losses | 3 | 1 |
Fair Value | 14,817 | 15,412 |
Collateralized Mortgage Obligations [Member] | Federal Home Loan Mortgage Corporation [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Securities held to maturity | 14,519 | 15,121 |
Gross Unrealized Gains | 24 | 5 |
Gross Unrealized Losses | 2 | |
Fair Value | 14,541 | 15,126 |
Collateralized Mortgage Obligations [Member] | Federal National Mortgage Association [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Securities held to maturity | 212 | 221 |
Gross Unrealized Gains | 25 | 24 |
Fair Value | 237 | 245 |
Collateralized Mortgage Obligations [Member] | Non-Agency Securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Securities held to maturity | 40 | 42 |
Gross Unrealized Losses | 1 | 1 |
Fair Value | $ 39 | $ 41 |
Securities Held to Maturity - S
Securities Held to Maturity - Stratification by Contractual Maturity of Securities (Detail) - USD ($) $ in Thousands | Sep. 30, 2015 | Jun. 30, 2015 |
Schedule of Held-to-maturity Securities [Line Items] | ||
Amortized Cost | $ 228,597 | $ 219,862 |
Held-to-maturity Securities, Fair Value Total | 228,757 | 218,366 |
Debt Securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Due in one year or less, Amortized Cost | 6,356 | |
Due after one year through five years, Amortized Cost | 154,535 | |
Due after five years through ten years, Amortized Cost | 41,391 | |
Due after ten years, Amortized Cost | 26,315 | |
Amortized Cost | 228,597 | 219,862 |
Due in one year or less, Fair Value | 6,360 | |
Due after one year through five years, Fair Value | 154,490 | |
Due after five years through ten years, Fair Value | 41,539 | |
Due after ten years, Fair Value | 26,368 | |
Held-to-maturity Securities, Fair Value Total | $ 228,757 | $ 218,366 |
Securities Held to Maturity -43
Securities Held to Maturity - Additional Information (Detail) - USD ($) | 3 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Jun. 30, 2015 | |
Schedule of Held-to-maturity Securities [Line Items] | |||
Proceeds from sales of securities held to maturity | $ 0 | $ 0 | |
Securities Held to Maturity [Member] | Public Funds [Member] | |||
Schedule of Held-to-maturity Securities [Line Items] | |||
Available for sale securities pledged to secure public funds on deposit | 7,900,000 | $ 7,900,000 | |
Securities Held to Maturity [Member] | FHLB of New York [Member] | |||
Schedule of Held-to-maturity Securities [Line Items] | |||
Held to maturity securities pledged as collateral | $ 126,700,000 | $ 126,900,000 |
Impairment of Securities - Sche
Impairment of Securities - Schedule of Fair Values and Gross Unrealized Losses on Investments (Detail) - USD ($) $ in Thousands | Sep. 30, 2015 | Jun. 30, 2015 |
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 Months: Fair Value | $ 137,230 | $ 182,912 |
Less than 12 Months: Unrealized Losses | 3,038 | 2,221 |
12 Months or More: Fair Value | 287,900 | 266,903 |
12 Months or More: Unrealized Losses | 4,905 | 4,866 |
Total: Fair Value | 425,130 | 449,815 |
Total: Unrealized Losses | 7,943 | 7,087 |
Collateralized Mortgage Obligations [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 Months: Fair Value | 5,479 | |
Less than 12 Months: Unrealized Losses | 29 | |
12 Months or More: Fair Value | 50,649 | 52,105 |
12 Months or More: Unrealized Losses | 719 | 1,197 |
Total: Fair Value | 50,649 | 57,584 |
Total: Unrealized Losses | 719 | 1,226 |
Residential Pass-Through Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 Months: Fair Value | 21 | 61,896 |
Less than 12 Months: Unrealized Losses | 1 | 1,140 |
12 Months or More: Fair Value | 48,995 | 50,513 |
12 Months or More: Unrealized Losses | 380 | 883 |
Total: Fair Value | 49,016 | 112,409 |
Total: Unrealized Losses | 381 | 2,023 |
Debt Securities [Member] | Trust Preferred Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
12 Months or More: Fair Value | 7,064 | 6,734 |
12 Months or More: Unrealized Losses | 833 | 1,160 |
Total: Fair Value | 7,064 | 6,734 |
Total: Unrealized Losses | 833 | 1,160 |
Debt Securities [Member] | U.S. Agency Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 Months: Fair Value | 1,510 | 1,533 |
Less than 12 Months: Unrealized Losses | 10 | 7 |
12 Months or More: Fair Value | 673 | 695 |
12 Months or More: Unrealized Losses | 5 | 4 |
Total: Fair Value | 2,183 | 2,228 |
Total: Unrealized Losses | 15 | 11 |
Debt Securities [Member] | Obligations of State and Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 Months: Fair Value | 7,501 | 20,575 |
Less than 12 Months: Unrealized Losses | 123 | 515 |
12 Months or More: Fair Value | 3,031 | 2,943 |
12 Months or More: Unrealized Losses | 101 | 189 |
Total: Fair Value | 10,532 | 23,518 |
Total: Unrealized Losses | 224 | 704 |
Debt Securities [Member] | Asset-backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 Months: Fair Value | 60,361 | 23,855 |
Less than 12 Months: Unrealized Losses | 1,969 | 293 |
12 Months or More: Fair Value | 14,685 | 20,067 |
12 Months or More: Unrealized Losses | 561 | 168 |
Total: Fair Value | 75,046 | 43,922 |
Total: Unrealized Losses | 2,530 | 461 |
Debt Securities [Member] | Corporate Bonds [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 Months: Fair Value | 24,487 | 19,880 |
Less than 12 Months: Unrealized Losses | 530 | 120 |
12 Months or More: Fair Value | 93,590 | 74,295 |
12 Months or More: Unrealized Losses | 1,455 | 754 |
Total: Fair Value | 118,077 | 94,175 |
Total: Unrealized Losses | 1,985 | 874 |
Debt Securities [Member] | Collateralized Loan Obligations [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Less than 12 Months: Fair Value | 43,350 | 49,694 |
Less than 12 Months: Unrealized Losses | 405 | 117 |
12 Months or More: Fair Value | 69,213 | 59,551 |
12 Months or More: Unrealized Losses | 851 | 511 |
Total: Fair Value | 112,563 | 109,245 |
Total: Unrealized Losses | $ 1,256 | $ 628 |
Impairment of Securities - Addi
Impairment of Securities - Additional Information (Detail) | 3 Months Ended | |
Sep. 30, 2015USD ($)SecurityMunicipalitySecuritiesFinancial_Institution | Jun. 30, 2015USD ($)Security | |
Schedule Of Investments [Line Items] | ||
Available-for-sale, securities in unrealized loss positions, qualitative disclosure, number of positions | 90 | 119 |
Held-to-maturity, securities in unrealized loss positions, qualitative disclosure, number of positions | 72 | 166 |
Credit-related OTTI securities | $ | $ 0 | $ 0 |
Number of additional trust preferred securities | Securities | 2 | |
Collateralized Loan Obligations [Member] | ||
Schedule Of Investments [Line Items] | ||
Available-for-sale, securities in unrealized loss positions, qualitative disclosure, number of positions | 18 | 16 |
Marketable securities | $ | $ 127,400,000 | |
Investments percent of total investments | 9.10% | |
Investments percent of total assets | 3.00% | |
Trust Preferred Securities [Member] | Chase Capital II [Member] | ||
Schedule Of Investments [Line Items] | ||
Number of securities | 2 | |
Securities amortized cost | $ | $ 3,000,000 | |
Collateralized Mortgage Obligations [Member] | ||
Schedule Of Investments [Line Items] | ||
Available-for-sale, securities in unrealized loss positions, qualitative disclosure, number of positions | 6 | 8 |
Held-to-maturity, securities in unrealized loss positions, qualitative disclosure, number of positions | 5 | 4 |
Residential Pass-Through Securities [Member] | ||
Schedule Of Investments [Line Items] | ||
Available-for-sale, securities in unrealized loss positions, qualitative disclosure, number of positions | 9 | 13 |
Held-to-maturity, securities in unrealized loss positions, qualitative disclosure, number of positions | 1 | 15 |
Commercial Pass-Through Securities [Member] | ||
Schedule Of Investments [Line Items] | ||
Held-to-maturity, securities in unrealized loss positions, qualitative disclosure, number of positions | 4 | |
Mortgage-Backed Securities [Member] | ||
Schedule Of Investments [Line Items] | ||
Marketable securities | $ | $ 759,200,000 | |
Investments percent of total investments | 54.10% | |
Investments percent of total assets | 17.60% | |
Debt Securities [Member] | Trust Preferred Securities [Member] | ||
Schedule Of Investments [Line Items] | ||
Available-for-sale, securities in unrealized loss positions, qualitative disclosure, number of positions | 5 | 4 |
Marketable securities | $ | $ 8,100,000 | |
Number of securities held | Securities | 5 | |
Debt Securities [Member] | Trust Preferred Securities [Member] | BankBoston Capital Trust IV and MBNA Capital Trust B [Member] | ||
Schedule Of Investments [Line Items] | ||
Securities amortized cost | $ | $ 4,900,000 | |
Debt Securities [Member] | Trust Preferred Securities [Member] | Maximum [Member] | ||
Schedule Of Investments [Line Items] | ||
Investments percent of total investments | 1.00% | |
Debt Securities [Member] | Trust Preferred Securities [Member] | Impaired Securities that Maintained Credit Rating [Member] | ||
Schedule Of Investments [Line Items] | ||
Number of securities held | Securities | 4 | |
Number of issuing financial institutions | Financial_Institution | 3 | |
Debt Securities [Member] | Obligations of State and Political Subdivisions [Member] | ||
Schedule Of Investments [Line Items] | ||
Available-for-sale, securities in unrealized loss positions, qualitative disclosure, number of positions | 29 | 62 |
Held-to-maturity, securities in unrealized loss positions, qualitative disclosure, number of positions | 61 | 136 |
Marketable securities | $ | $ 112,700,000 | |
Investments percent of total investments | 8.00% | |
Investments percent of total assets | 2.60% | |
Debt Securities [Member] | Obligations of State and Political Subdivisions [Member] | BANs [Member] | New Jersey [Member] | ||
Schedule Of Investments [Line Items] | ||
Marketable securities | $ | $ 6,400,000 | |
Number of securities | 10 | |
Number of municipalities | Municipality | 7 | |
Debt Securities [Member] | Asset-backed Securities [Member] | ||
Schedule Of Investments [Line Items] | ||
Available-for-sale, securities in unrealized loss positions, qualitative disclosure, number of positions | 7 | 4 |
Marketable securities | $ | $ 85,200,000 | |
Investments percent of total investments | 6.10% | |
Investments percent of total assets | 2.00% | |
Government guarantees | 97.00% | |
Debt Securities [Member] | Corporate Bonds [Member] | ||
Schedule Of Investments [Line Items] | ||
Available-for-sale, securities in unrealized loss positions, qualitative disclosure, number of positions | 12 | 7 |
Marketable securities | $ | $ 161,200,000 | |
Investments percent of total investments | 11.50% | |
Investments percent of total assets | 3.70% | |
Debt Securities [Member] | U.S. Agency Securities [Member] | ||
Schedule Of Investments [Line Items] | ||
Available-for-sale, securities in unrealized loss positions, qualitative disclosure, number of positions | 4 | 4 |
Held-to-maturity, securities in unrealized loss positions, qualitative disclosure, number of positions | 5 | 7 |
Marketable securities | $ | $ 150,500,000 | |
Investments percent of total investments | 10.70% | |
Investments percent of total assets | 3.50% |
Impairment of Securities - Sc46
Impairment of Securities - Schedule of Temporary Impairment Losses, Investments (Detail) - USD ($) $ in Thousands | Sep. 30, 2015 | Jun. 30, 2015 |
Schedule of Held-to-maturity Securities [Line Items] | ||
Less than 12 Months: Fair Value | $ 24,973 | $ 217,771 |
Less than 12 Months: Unrealized Losses | 131 | 1,624 |
12 Months or More: Fair Value | 103,084 | 151,008 |
12 Months or More: Unrealized Losses | 251 | 683 |
Total: Fair Value | 128,057 | 368,779 |
Total: Unrealized Losses | 382 | 2,307 |
Collateralized Mortgage Obligations [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Less than 12 Months: Fair Value | 4,579 | |
Less than 12 Months: Unrealized Losses | 2 | |
12 Months or More: Fair Value | 39 | 41 |
12 Months or More: Unrealized Losses | 1 | 1 |
Total: Fair Value | 4,618 | 41 |
Total: Unrealized Losses | 3 | 1 |
Residential Pass-Through Securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Less than 12 Months: Fair Value | 2,031 | 142,789 |
Less than 12 Months: Unrealized Losses | 30 | 556 |
Total: Fair Value | 2,031 | 142,789 |
Total: Unrealized Losses | 30 | 556 |
Commercial Pass-Through Securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Less than 12 Months: Fair Value | 18,792 | |
Less than 12 Months: Unrealized Losses | 228 | |
Total: Fair Value | 18,792 | |
Total: Unrealized Losses | 228 | |
Debt Securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Total: Unrealized Losses | 349 | 1,522 |
Debt Securities [Member] | U.S. Agency Securities [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
12 Months or More: Fair Value | 94,948 | 143,002 |
12 Months or More: Unrealized Losses | 40 | 332 |
Total: Fair Value | 94,948 | 143,002 |
Total: Unrealized Losses | 40 | 332 |
Debt Securities [Member] | Obligations of State and Political Subdivisions [Member] | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Less than 12 Months: Fair Value | 18,363 | 56,190 |
Less than 12 Months: Unrealized Losses | 99 | 840 |
12 Months or More: Fair Value | 8,097 | 7,965 |
12 Months or More: Unrealized Losses | 210 | 350 |
Total: Fair Value | 26,460 | 64,155 |
Total: Unrealized Losses | $ 309 | $ 1,190 |
Loan Quality and Allowance fo47
Loan Quality and Allowance for Loan Losses - Additional Information (Detail) $ in Thousands | 3 Months Ended | |
Sep. 30, 2015USD ($)SegmentLoan | Jun. 30, 2015USD ($) | |
Financing Receivable, Recorded Investment [Line Items] | ||
Unpaid principal balance of impaired loans | $ 41,361 | $ 43,230 |
Unsecured consumer and commercial loans loss, days past due | 120 days | |
Percentage of valuation allowance | 100.00% | |
Number of loan portfolio segments | Segment | 7 | |
Annual net charge-off rates | 2 years | |
Qualitative and environmental adjustment for allowance for loan loss calculation | For each category of the loan portfolio, a level of risk, developed from a number of internal and external resources, is assigned to each of the qualitative criteria utilizing a scale ranging from zero (negligible risk) to 15 (high risk), with higher values potentially ascribed to exceptional levels of risk that exceed the standard range, as appropriate. The sum of the risk values, expressed as a whole number, is multiplied by .01% to arrive at an overall environmental loss factor, expressed in basis points, for each loan category. | |
Residential Mortgage [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Unpaid principal balance of impaired loans | $ 16,740 | 17,132 |
Number of loans | Loan | 35 | |
Carrying value | $ 4,400 | |
Residential Mortgage [Member] | Single-family Property [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Number of loans | Loan | 1 | |
Carrying value | $ 395 | |
Loans Acquired at Fair Value [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Unpaid principal balance of impaired loans | 18,481 | 19,066 |
Financing receivable, allowance for credit losses, individually evaluated for impairment | $ 281 | 397 |
Number of loans | Loan | 3 | |
Loans Acquired at Fair Value [Member] | Residential Mortgage [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Unpaid principal balance of impaired loans | $ 146 | 147 |
Receivables Acquired with Deteriorated Credit Quality [Member] | Loans Acquired at Fair Value [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans acquired with deteriorated credit quality | 8,243 | 8,363 |
Receivables Acquired with Deteriorated Credit Quality [Member] | Loans Acquired at Fair Value [Member] | Residential Mortgage [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans acquired with deteriorated credit quality | 113 | 116 |
Nonperforming Financing Receivable [Member] | Loans Acquired at Fair Value [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Unpaid principal balance of impaired loans | 8,243 | 8,363 |
Financing receivable, recorded investment, nonaccrual status | 8,872 | 9,359 |
Nonperforming Financing Receivable [Member] | Loans Acquired at Fair Value [Member] | Residential Mortgage [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, recorded investment, nonaccrual status | 113 | 116 |
Nonperforming Financing Receivable [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | Loans Acquired at Fair Value [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans acquired with deteriorated credit quality | 9,873 | 9,900 |
Uncertain Cash Flow [Member] | Loans Acquired at Fair Value [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing receivable, recorded investment, nonaccrual status | 1,302 | 1,322 |
Financing receivable, allowance for credit losses, individually evaluated for impairment | $ 0 | $ 81 |
Loan Quality and Allowance fo48
Loan Quality and Allowance for Loan Losses - Impaired Loans Acquired Accretable Yield Change (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
Receivables [Abstract] | ||
Beginning balance | $ 1,189 | $ 1,891 |
Accretion to interest income | (105) | (64) |
Ending balance | $ 1,084 | $ 1,827 |
Loan Quality and Allowance fo49
Loan Quality and Allowance for Loan Losses - Allowance for Loan Losses and Loans Receivable (Detail) - USD ($) $ in Thousands | 3 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Jun. 30, 2015 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Allowance | $ 17,690 | $ 12,406 | |
Allowance | 15,606 | 12,387 | |
Total charge offs | (658) | (841) | |
Total recoveries | 101 | 2 | |
Loans and Leases Receivable, Gross | 2,414,932 | $ 2,102,548 | |
Loans receivable, unamortized yield adjustments | 2,580 | 316 | |
Loans receivable, including unamortized yield adjustments of $2,580 and $316 | 2,417,512 | 2,102,864 | |
Allocated [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Allowance | 17,690 | 12,406 | |
Allowance | 15,606 | 12,387 | |
Provision (reversal) for Loan Losses | 2,641 | 858 | |
Originated and Purchased Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Allowance, Loans individually evaluated for impairment | 471 | 573 | |
Allowance, Loans collectively evaluated for impairment | 15,974 | 13,443 | |
Allowance | 16,445 | ||
Allowance | 14,016 | ||
Loans individually evaluated for impairment | 15,585 | 16,557 | |
Loans collectively evaluated for impairment | 2,211,456 | 1,885,873 | |
Loans and Leases Receivable, Gross | 2,227,041 | 1,902,430 | |
Loans Acquired at Fair Value [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Allowance, Loans individually evaluated for impairment | 281 | 397 | |
Allowance, Loans collectively evaluated for impairment | 964 | 1,112 | |
Allowance | 1,245 | ||
Allowance | 1,590 | ||
Loans individually evaluated for impairment | 8,253 | 8,639 | |
Loans collectively evaluated for impairment | 171,395 | 183,116 | |
Loans and Leases Receivable, Gross | 187,891 | 200,118 | |
Construction [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Allowance | 29 | 58 | |
Allowance | 34 | 67 | |
Loans and Leases Receivable, Gross | 5,086 | 5,711 | |
Construction [Member] | Allocated [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Allowance | 29 | 58 | |
Allowance | 34 | 67 | |
Provision (reversal) for Loan Losses | (5) | (9) | |
Construction [Member] | Originated and Purchased Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Allowance, Loans collectively evaluated for impairment | 24 | 29 | |
Allowance | 24 | ||
Allowance | 29 | ||
Loans collectively evaluated for impairment | 2,740 | 3,328 | |
Loans and Leases Receivable, Gross | 2,740 | 3,328 | |
Construction [Member] | Loans Acquired at Fair Value [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Allowance, Loans collectively evaluated for impairment | 5 | 5 | |
Allowance | 5 | ||
Allowance | 5 | ||
Loans individually evaluated for impairment | 2,013 | 2,037 | |
Loans collectively evaluated for impairment | 333 | 346 | |
Loans and Leases Receivable, Gross | 2,346 | 2,383 | |
Other Consumer [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Allowance | 27 | 23 | |
Allowance | 16 | 22 | |
Total recoveries | 1 | ||
Loans and Leases Receivable, Gross | 4,580 | 4,291 | |
Other Consumer [Member] | Allocated [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Allowance | 27 | 23 | |
Allowance | 16 | 22 | |
Provision (reversal) for Loan Losses | 10 | 1 | |
Other Consumer [Member] | Originated and Purchased Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Allowance, Loans collectively evaluated for impairment | 26 | 15 | |
Allowance | 26 | ||
Allowance | 15 | ||
Loans collectively evaluated for impairment | 4,501 | 4,204 | |
Loans and Leases Receivable, Gross | 4,501 | 4,204 | |
Other Consumer [Member] | Loans Acquired at Fair Value [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Allowance, Loans collectively evaluated for impairment | 1 | 1 | |
Allowance | 1 | ||
Allowance | 1 | ||
Loans collectively evaluated for impairment | 79 | 87 | |
Loans and Leases Receivable, Gross | 79 | 87 | |
Receivables Acquired with Deteriorated Credit Quality [Member] | Loans Acquired at Fair Value [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Loans acquired with deteriorated credit quality | 81 | ||
Loans acquired with deteriorated credit quality | 8,243 | 8,363 | |
Residential Mortgage [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Allowance | 2,469 | 2,575 | |
Allowance | 2,210 | 2,729 | |
Total charge offs | (538) | (303) | |
Loans and Leases Receivable, Gross | 619,207 | 592,321 | |
Residential Mortgage [Member] | Allocated [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Allowance | 2,469 | 2,575 | |
Allowance | 2,210 | 2,729 | |
Provision (reversal) for Loan Losses | 797 | 149 | |
Residential Mortgage [Member] | Originated and Purchased Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Allowance, Loans individually evaluated for impairment | 218 | 116 | |
Allowance, Loans collectively evaluated for impairment | 2,158 | 2,031 | |
Allowance | 2,376 | ||
Allowance | 2,147 | ||
Loans individually evaluated for impairment | 10,073 | 10,240 | |
Loans collectively evaluated for impairment | 551,063 | 520,070 | |
Loans and Leases Receivable, Gross | 561,136 | 530,310 | |
Residential Mortgage [Member] | Loans Acquired at Fair Value [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Allowance, Loans collectively evaluated for impairment | 93 | 63 | |
Allowance | 93 | ||
Allowance | 63 | ||
Loans collectively evaluated for impairment | 57,958 | 61,895 | |
Loans and Leases Receivable, Gross | 58,071 | 62,011 | |
Residential Mortgage [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | Loans Acquired at Fair Value [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Loans acquired with deteriorated credit quality | 113 | 116 | |
Commercial Mortgage [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Allowance | 13,181 | 7,942 | |
Allowance | 11,120 | 7,737 | |
Total charge offs | (346) | ||
Loans and Leases Receivable, Gross | 1,595,989 | 1,309,103 | |
Commercial Mortgage [Member] | Allocated [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Allowance | 13,181 | 7,942 | |
Allowance | 11,120 | 7,737 | |
Provision (reversal) for Loan Losses | 2,061 | 551 | |
Commercial Mortgage [Member] | Originated and Purchased Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Allowance, Loans individually evaluated for impairment | 142 | 415 | |
Allowance, Loans collectively evaluated for impairment | 12,576 | 10,162 | |
Allowance | 12,718 | ||
Allowance | 10,577 | ||
Loans individually evaluated for impairment | 3,464 | 3,439 | |
Loans collectively evaluated for impairment | 1,506,880 | 1,214,586 | |
Loans and Leases Receivable, Gross | 1,510,344 | 1,218,025 | |
Commercial Mortgage [Member] | Loans Acquired at Fair Value [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Allowance, Loans individually evaluated for impairment | 108 | 114 | |
Allowance, Loans collectively evaluated for impairment | 355 | 429 | |
Allowance | 463 | ||
Allowance | 543 | ||
Loans individually evaluated for impairment | 4,334 | 4,196 | |
Loans collectively evaluated for impairment | 80,997 | 86,564 | |
Loans and Leases Receivable, Gross | 85,645 | 91,078 | |
Commercial Mortgage [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | Loans Acquired at Fair Value [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Loans acquired with deteriorated credit quality | 314 | 318 | |
Commercial Business [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Allowance | 1,578 | 1,362 | |
Allowance | 1,860 | 1,284 | |
Total charge offs | (96) | (192) | |
Total recoveries | 59 | 2 | |
Loans and Leases Receivable, Gross | 97,245 | 99,451 | |
Commercial Business [Member] | Allocated [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Allowance | 1,578 | 1,362 | |
Allowance | 1,860 | 1,284 | |
Provision (reversal) for Loan Losses | (245) | 268 | |
Commercial Business [Member] | Originated and Purchased Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Allowance, Loans individually evaluated for impairment | 22 | 30 | |
Allowance, Loans collectively evaluated for impairment | 969 | 989 | |
Allowance | 991 | ||
Allowance | 1,019 | ||
Loans individually evaluated for impairment | 1,024 | 1,861 | |
Loans collectively evaluated for impairment | 69,718 | 69,797 | |
Loans and Leases Receivable, Gross | 70,742 | 71,658 | |
Commercial Business [Member] | Loans Acquired at Fair Value [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Allowance, Loans individually evaluated for impairment | 171 | 259 | |
Allowance, Loans collectively evaluated for impairment | 416 | 501 | |
Allowance | 587 | ||
Allowance | 841 | ||
Loans individually evaluated for impairment | 512 | 927 | |
Loans collectively evaluated for impairment | 18,175 | 18,937 | |
Loans and Leases Receivable, Gross | 26,503 | 27,793 | |
Commercial Business [Member] | Receivables Acquired with Deteriorated Credit Quality [Member] | Loans Acquired at Fair Value [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Loans acquired with deteriorated credit quality | 81 | ||
Loans acquired with deteriorated credit quality | 7,816 | 7,929 | |
Home Equity Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Allowance | 311 | 362 | |
Allowance | 260 | 460 | |
Total recoveries | 41 | ||
Loans and Leases Receivable, Gross | 71,347 | 70,257 | |
Home Equity Loans [Member] | Allocated [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Allowance | 311 | 362 | |
Allowance | 260 | 460 | |
Provision (reversal) for Loan Losses | 10 | (98) | |
Home Equity Loans [Member] | Originated and Purchased Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Allowance, Loans individually evaluated for impairment | 89 | 12 | |
Allowance, Loans collectively evaluated for impairment | 185 | 184 | |
Allowance | 274 | ||
Allowance | 196 | ||
Loans individually evaluated for impairment | 972 | 991 | |
Loans collectively evaluated for impairment | 64,902 | 63,034 | |
Loans and Leases Receivable, Gross | 65,874 | 64,025 | |
Home Equity Loans [Member] | Loans Acquired at Fair Value [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Allowance, Loans collectively evaluated for impairment | 37 | 64 | |
Allowance | 37 | ||
Allowance | 64 | ||
Loans individually evaluated for impairment | 476 | 534 | |
Loans collectively evaluated for impairment | 4,997 | 5,698 | |
Loans and Leases Receivable, Gross | 5,473 | 6,232 | |
Home Equity Lines of Credit [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Allowance | 95 | 84 | |
Allowance | 106 | 88 | |
Total charge offs | (24) | ||
Loans and Leases Receivable, Gross | 21,478 | 21,414 | |
Home Equity Lines of Credit [Member] | Allocated [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Allowance | 95 | 84 | |
Allowance | 106 | 88 | |
Provision (reversal) for Loan Losses | 13 | $ (4) | |
Home Equity Lines of Credit [Member] | Originated and Purchased Loans [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Allowance, Loans collectively evaluated for impairment | 36 | 33 | |
Allowance | 36 | ||
Allowance | 33 | ||
Loans individually evaluated for impairment | 52 | 26 | |
Loans collectively evaluated for impairment | 11,652 | 10,854 | |
Loans and Leases Receivable, Gross | 11,704 | 10,880 | |
Home Equity Lines of Credit [Member] | Loans Acquired at Fair Value [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Allowance, Loans individually evaluated for impairment | 2 | 24 | |
Allowance, Loans collectively evaluated for impairment | 57 | 49 | |
Allowance | 59 | ||
Allowance | 73 | ||
Loans individually evaluated for impairment | 918 | 945 | |
Loans collectively evaluated for impairment | 8,856 | 9,589 | |
Loans and Leases Receivable, Gross | $ 9,774 | $ 10,534 |
Loan Quality and Allowance fo50
Loan Quality and Allowance for Loan Losses - Credit-Rating Classification of Loans Receivable (Detail) - USD ($) $ in Thousands | Sep. 30, 2015 | Jun. 30, 2015 |
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | $ 2,414,932 | $ 2,102,548 |
Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 5,086 | 5,711 |
Other Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 4,580 | 4,291 |
Residential Mortgage [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 619,207 | 592,321 |
Commercial Mortgage [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 1,595,989 | 1,309,103 |
Commercial Business [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 97,245 | 99,451 |
Home Equity Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 71,347 | 70,257 |
Home Equity Lines of Credit [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 21,478 | 21,414 |
Originated and Purchased Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 2,227,041 | 1,902,430 |
Originated and Purchased Loans [Member] | Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 2,740 | 3,328 |
Originated and Purchased Loans [Member] | Other Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 4,501 | 4,204 |
Originated and Purchased Loans [Member] | Non-Classified [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 2,208,183 | 1,882,772 |
Originated and Purchased Loans [Member] | Non-Classified [Member] | Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 2,594 | 3,328 |
Originated and Purchased Loans [Member] | Non-Classified [Member] | Other Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 4,493 | 4,201 |
Originated and Purchased Loans [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 1,558 | 1,399 |
Originated and Purchased Loans [Member] | Special Mention [Member] | Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 146 | |
Originated and Purchased Loans [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 17,206 | 17,992 |
Originated and Purchased Loans [Member] | Substandard [Member] | Other Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 5 | 3 |
Originated and Purchased Loans [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 94 | 267 |
Originated and Purchased Loans [Member] | Doubtful [Member] | Other Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 3 | |
Originated and Purchased Loans [Member] | Total Classified Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 18,858 | 19,658 |
Originated and Purchased Loans [Member] | Total Classified Loans [Member] | Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 146 | |
Originated and Purchased Loans [Member] | Total Classified Loans [Member] | Other Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 8 | 3 |
Originated and Purchased Loans [Member] | Residential Mortgage [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 561,136 | 530,310 |
Originated and Purchased Loans [Member] | Residential Mortgage [Member] | Non-Classified [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 549,597 | 518,592 |
Originated and Purchased Loans [Member] | Residential Mortgage [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 948 | 955 |
Originated and Purchased Loans [Member] | Residential Mortgage [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 10,591 | 10,763 |
Originated and Purchased Loans [Member] | Residential Mortgage [Member] | Total Classified Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 11,539 | 11,718 |
Originated and Purchased Loans [Member] | Commercial Mortgage [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 1,510,344 | 1,218,025 |
Originated and Purchased Loans [Member] | Commercial Mortgage [Member] | Non-Classified [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 1,505,511 | 1,213,307 |
Originated and Purchased Loans [Member] | Commercial Mortgage [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 361 | 256 |
Originated and Purchased Loans [Member] | Commercial Mortgage [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 4,381 | 4,195 |
Originated and Purchased Loans [Member] | Commercial Mortgage [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 91 | 267 |
Originated and Purchased Loans [Member] | Commercial Mortgage [Member] | Total Classified Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 4,833 | 4,718 |
Originated and Purchased Loans [Member] | Commercial Business [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 70,742 | 71,658 |
Originated and Purchased Loans [Member] | Commercial Business [Member] | Non-Classified [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 69,697 | 69,662 |
Originated and Purchased Loans [Member] | Commercial Business [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 58 | |
Originated and Purchased Loans [Member] | Commercial Business [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 1,045 | 1,938 |
Originated and Purchased Loans [Member] | Commercial Business [Member] | Total Classified Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 1,045 | 1,996 |
Originated and Purchased Loans [Member] | Home Equity Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 65,874 | 64,025 |
Originated and Purchased Loans [Member] | Home Equity Loans [Member] | Non-Classified [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 64,688 | 62,902 |
Originated and Purchased Loans [Member] | Home Equity Loans [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 54 | 56 |
Originated and Purchased Loans [Member] | Home Equity Loans [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 1,132 | 1,067 |
Originated and Purchased Loans [Member] | Home Equity Loans [Member] | Total Classified Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 1,186 | 1,123 |
Originated and Purchased Loans [Member] | Home Equity Lines of Credit [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 11,704 | 10,880 |
Originated and Purchased Loans [Member] | Home Equity Lines of Credit [Member] | Non-Classified [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 11,603 | 10,780 |
Originated and Purchased Loans [Member] | Home Equity Lines of Credit [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 49 | 74 |
Originated and Purchased Loans [Member] | Home Equity Lines of Credit [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 52 | 26 |
Originated and Purchased Loans [Member] | Home Equity Lines of Credit [Member] | Total Classified Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 101 | 100 |
Loans Acquired at Fair Value [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 187,891 | 200,118 |
Loans Acquired at Fair Value [Member] | Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 2,346 | 2,383 |
Loans Acquired at Fair Value [Member] | Other Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 79 | 87 |
Loans Acquired at Fair Value [Member] | Non-Classified [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 164,077 | 171,254 |
Loans Acquired at Fair Value [Member] | Non-Classified [Member] | Other Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 54 | 60 |
Loans Acquired at Fair Value [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 7,703 | 12,102 |
Loans Acquired at Fair Value [Member] | Special Mention [Member] | Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 333 | 346 |
Loans Acquired at Fair Value [Member] | Special Mention [Member] | Other Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 21 | 24 |
Loans Acquired at Fair Value [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 16,105 | 16,756 |
Loans Acquired at Fair Value [Member] | Substandard [Member] | Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 2,013 | 2,037 |
Loans Acquired at Fair Value [Member] | Substandard [Member] | Other Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 4 | 3 |
Loans Acquired at Fair Value [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 6 | 6 |
Loans Acquired at Fair Value [Member] | Total Classified Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 23,814 | 28,864 |
Loans Acquired at Fair Value [Member] | Total Classified Loans [Member] | Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 2,346 | 2,383 |
Loans Acquired at Fair Value [Member] | Total Classified Loans [Member] | Other Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 25 | 27 |
Loans Acquired at Fair Value [Member] | Residential Mortgage [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 58,071 | 62,011 |
Loans Acquired at Fair Value [Member] | Residential Mortgage [Member] | Non-Classified [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 56,663 | 60,593 |
Loans Acquired at Fair Value [Member] | Residential Mortgage [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 370 | 372 |
Loans Acquired at Fair Value [Member] | Residential Mortgage [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 1,038 | 1,046 |
Loans Acquired at Fair Value [Member] | Residential Mortgage [Member] | Total Classified Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 1,408 | 1,418 |
Loans Acquired at Fair Value [Member] | Commercial Mortgage [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 85,645 | 91,078 |
Loans Acquired at Fair Value [Member] | Commercial Mortgage [Member] | Non-Classified [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 79,943 | 82,068 |
Loans Acquired at Fair Value [Member] | Commercial Mortgage [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 123 | 3,425 |
Loans Acquired at Fair Value [Member] | Commercial Mortgage [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 5,579 | 5,585 |
Loans Acquired at Fair Value [Member] | Commercial Mortgage [Member] | Total Classified Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 5,702 | 9,010 |
Loans Acquired at Fair Value [Member] | Commercial Business [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 26,503 | 27,793 |
Loans Acquired at Fair Value [Member] | Commercial Business [Member] | Non-Classified [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 14,080 | 13,749 |
Loans Acquired at Fair Value [Member] | Commercial Business [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 6,538 | 7,617 |
Loans Acquired at Fair Value [Member] | Commercial Business [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 5,879 | 6,421 |
Loans Acquired at Fair Value [Member] | Commercial Business [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 6 | 6 |
Loans Acquired at Fair Value [Member] | Commercial Business [Member] | Total Classified Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 12,423 | 14,044 |
Loans Acquired at Fair Value [Member] | Home Equity Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 5,473 | 6,232 |
Loans Acquired at Fair Value [Member] | Home Equity Loans [Member] | Non-Classified [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 4,872 | 5,588 |
Loans Acquired at Fair Value [Member] | Home Equity Loans [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 76 | 76 |
Loans Acquired at Fair Value [Member] | Home Equity Loans [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 525 | 568 |
Loans Acquired at Fair Value [Member] | Home Equity Loans [Member] | Total Classified Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 601 | 644 |
Loans Acquired at Fair Value [Member] | Home Equity Lines of Credit [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 9,774 | 10,534 |
Loans Acquired at Fair Value [Member] | Home Equity Lines of Credit [Member] | Non-Classified [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 8,465 | 9,196 |
Loans Acquired at Fair Value [Member] | Home Equity Lines of Credit [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 242 | 242 |
Loans Acquired at Fair Value [Member] | Home Equity Lines of Credit [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | 1,067 | 1,096 |
Loans Acquired at Fair Value [Member] | Home Equity Lines of Credit [Member] | Total Classified Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans and Leases Receivable, Gross | $ 1,309 | $ 1,338 |
Loan Quality and Allowance fo51
Loan Quality and Allowance for Loan Losses - Contractual Payment Status of Loans Receivable (Detail) - USD ($) $ in Thousands | Sep. 30, 2015 | Jun. 30, 2015 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans and Leases Receivable, Gross | $ 2,414,932 | $ 2,102,548 |
Construction [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans and Leases Receivable, Gross | 5,086 | 5,711 |
Other Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans and Leases Receivable, Gross | 4,580 | 4,291 |
Originated and Purchased Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 2,218,039 | 1,893,765 |
Total past due | 9,002 | 8,665 |
Loans and Leases Receivable, Gross | 2,227,041 | 1,902,430 |
Originated and Purchased Loans [Member] | Construction [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 2,740 | 3,328 |
Loans and Leases Receivable, Gross | 2,740 | 3,328 |
Originated and Purchased Loans [Member] | Other Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 4,497 | 4,199 |
Total past due | 4 | 5 |
Loans and Leases Receivable, Gross | 4,501 | 4,204 |
Loans Acquired at Fair Value [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 181,580 | 194,677 |
Total past due | 6,311 | 5,441 |
Loans and Leases Receivable, Gross | 187,891 | 200,118 |
Loans Acquired at Fair Value [Member] | Construction [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 1,582 | 1,610 |
Total past due | 764 | 773 |
Loans and Leases Receivable, Gross | 2,346 | 2,383 |
Loans Acquired at Fair Value [Member] | Other Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 72 | 85 |
Total past due | 7 | 2 |
Loans and Leases Receivable, Gross | 79 | 87 |
Past due: 30-59 days [Member] | Originated and Purchased Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 1,782 | 817 |
Past due: 30-59 days [Member] | Originated and Purchased Loans [Member] | Other Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 4 | |
Past due: 30-59 days [Member] | Loans Acquired at Fair Value [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 1,220 | 262 |
Past due: 30-59 days [Member] | Loans Acquired at Fair Value [Member] | Other Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 4 | |
Past due: 60-89 days [Member] | Originated and Purchased Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 637 | 711 |
Past due: 60-89 days [Member] | Originated and Purchased Loans [Member] | Other Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 1 | |
Past due: 60-89 days [Member] | Loans Acquired at Fair Value [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 796 | 469 |
Past due: 60-89 days [Member] | Loans Acquired at Fair Value [Member] | Other Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 1 | 1 |
Past due: 90+ days [Member] | Originated and Purchased Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 6,583 | 7,137 |
Past due: 90+ days [Member] | Originated and Purchased Loans [Member] | Other Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 3 | 1 |
Past due: 90+ days [Member] | Loans Acquired at Fair Value [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 4,295 | 4,710 |
Past due: 90+ days [Member] | Loans Acquired at Fair Value [Member] | Construction [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 764 | 773 |
Past due: 90+ days [Member] | Loans Acquired at Fair Value [Member] | Other Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 2 | 1 |
Residential Mortgage [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans and Leases Receivable, Gross | 619,207 | 592,321 |
Residential Mortgage [Member] | Originated and Purchased Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 554,530 | 524,780 |
Total past due | 6,606 | 5,530 |
Loans and Leases Receivable, Gross | 561,136 | 530,310 |
Residential Mortgage [Member] | Loans Acquired at Fair Value [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 57,291 | 61,895 |
Total past due | 780 | 116 |
Loans and Leases Receivable, Gross | 58,071 | 62,011 |
Residential Mortgage [Member] | Past due: 30-59 days [Member] | Originated and Purchased Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 1,583 | 420 |
Residential Mortgage [Member] | Past due: 30-59 days [Member] | Loans Acquired at Fair Value [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 780 | 116 |
Residential Mortgage [Member] | Past due: 60-89 days [Member] | Originated and Purchased Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 614 | 685 |
Residential Mortgage [Member] | Past due: 90+ days [Member] | Originated and Purchased Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 4,409 | 4,425 |
Commercial Mortgage [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans and Leases Receivable, Gross | 1,595,989 | 1,309,103 |
Commercial Mortgage [Member] | Originated and Purchased Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 1,508,899 | 1,216,644 |
Total past due | 1,445 | 1,381 |
Loans and Leases Receivable, Gross | 1,510,344 | 1,218,025 |
Commercial Mortgage [Member] | Loans Acquired at Fair Value [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 84,076 | 89,796 |
Total past due | 1,569 | 1,282 |
Loans and Leases Receivable, Gross | 85,645 | 91,078 |
Commercial Mortgage [Member] | Past due: 30-59 days [Member] | Originated and Purchased Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 65 | 256 |
Commercial Mortgage [Member] | Past due: 30-59 days [Member] | Loans Acquired at Fair Value [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 259 | |
Commercial Mortgage [Member] | Past due: 60-89 days [Member] | Loans Acquired at Fair Value [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 438 | 468 |
Commercial Mortgage [Member] | Past due: 90+ days [Member] | Originated and Purchased Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 1,380 | 1,125 |
Commercial Mortgage [Member] | Past due: 90+ days [Member] | Loans Acquired at Fair Value [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 872 | 814 |
Commercial Business [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans and Leases Receivable, Gross | 97,245 | 99,451 |
Commercial Business [Member] | Originated and Purchased Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 70,434 | 70,529 |
Total past due | 308 | 1,129 |
Loans and Leases Receivable, Gross | 70,742 | 71,658 |
Commercial Business [Member] | Loans Acquired at Fair Value [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 24,802 | 25,721 |
Total past due | 1,701 | 2,072 |
Loans and Leases Receivable, Gross | 26,503 | 27,793 |
Commercial Business [Member] | Past due: 30-59 days [Member] | Originated and Purchased Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 23 | |
Commercial Business [Member] | Past due: 30-59 days [Member] | Loans Acquired at Fair Value [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 148 | |
Commercial Business [Member] | Past due: 60-89 days [Member] | Originated and Purchased Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 22 | |
Commercial Business [Member] | Past due: 90+ days [Member] | Originated and Purchased Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 286 | 1,106 |
Commercial Business [Member] | Past due: 90+ days [Member] | Loans Acquired at Fair Value [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 1,553 | 2,072 |
Home Equity Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans and Leases Receivable, Gross | 71,347 | 70,257 |
Home Equity Loans [Member] | Originated and Purchased Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 65,377 | 63,457 |
Total past due | 497 | 568 |
Loans and Leases Receivable, Gross | 65,874 | 64,025 |
Home Equity Loans [Member] | Loans Acquired at Fair Value [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 5,194 | 5,993 |
Total past due | 279 | 239 |
Loans and Leases Receivable, Gross | 5,473 | 6,232 |
Home Equity Loans [Member] | Past due: 30-59 days [Member] | Originated and Purchased Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 44 | 114 |
Home Equity Loans [Member] | Past due: 30-59 days [Member] | Loans Acquired at Fair Value [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 17 | 134 |
Home Equity Loans [Member] | Past due: 60-89 days [Member] | Loans Acquired at Fair Value [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 76 | |
Home Equity Loans [Member] | Past due: 90+ days [Member] | Originated and Purchased Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 453 | 454 |
Home Equity Loans [Member] | Past due: 90+ days [Member] | Loans Acquired at Fair Value [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 186 | 105 |
Home Equity Lines of Credit [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans and Leases Receivable, Gross | 21,478 | 21,414 |
Home Equity Lines of Credit [Member] | Originated and Purchased Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 11,562 | 10,828 |
Total past due | 142 | 52 |
Loans and Leases Receivable, Gross | 11,704 | 10,880 |
Home Equity Lines of Credit [Member] | Loans Acquired at Fair Value [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Current | 8,563 | 9,577 |
Total past due | 1,211 | 957 |
Loans and Leases Receivable, Gross | 9,774 | 10,534 |
Home Equity Lines of Credit [Member] | Past due: 30-59 days [Member] | Originated and Purchased Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 90 | |
Home Equity Lines of Credit [Member] | Past due: 30-59 days [Member] | Loans Acquired at Fair Value [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 12 | 12 |
Home Equity Lines of Credit [Member] | Past due: 60-89 days [Member] | Originated and Purchased Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 26 | |
Home Equity Lines of Credit [Member] | Past due: 60-89 days [Member] | Loans Acquired at Fair Value [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 281 | |
Home Equity Lines of Credit [Member] | Past due: 90+ days [Member] | Originated and Purchased Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | 52 | 26 |
Home Equity Lines of Credit [Member] | Past due: 90+ days [Member] | Loans Acquired at Fair Value [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total past due | $ 918 | $ 945 |
Loan Quality and Allowance fo52
Loan Quality and Allowance for Loan Losses - Performance Status of Loans Receivable (Detail) - USD ($) $ in Thousands | Sep. 30, 2015 | Jun. 30, 2015 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans and Leases Receivable, Gross | $ 2,414,932 | $ 2,102,548 |
Construction [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans and Leases Receivable, Gross | 5,086 | 5,711 |
Other Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans and Leases Receivable, Gross | 4,580 | 4,291 |
Residential Mortgage [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans and Leases Receivable, Gross | 619,207 | 592,321 |
Commercial Mortgage [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans and Leases Receivable, Gross | 1,595,989 | 1,309,103 |
Commercial Business [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans and Leases Receivable, Gross | 97,245 | 99,451 |
Home Equity Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans and Leases Receivable, Gross | 71,347 | 70,257 |
Home Equity Lines of Credit [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans and Leases Receivable, Gross | 21,478 | 21,414 |
Originated and Purchased Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans and Leases Receivable, Gross | 2,227,041 | 1,902,430 |
Originated and Purchased Loans [Member] | Construction [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans and Leases Receivable, Gross | 2,740 | 3,328 |
Originated and Purchased Loans [Member] | Other Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans and Leases Receivable, Gross | 4,501 | 4,204 |
Originated and Purchased Loans [Member] | Performing Financing Receivable [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans and Leases Receivable, Gross | 2,214,404 | 1,888,894 |
Originated and Purchased Loans [Member] | Performing Financing Receivable [Member] | Construction [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans and Leases Receivable, Gross | 2,740 | 3,328 |
Originated and Purchased Loans [Member] | Performing Financing Receivable [Member] | Other Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans and Leases Receivable, Gross | 4,497 | 4,203 |
Originated and Purchased Loans [Member] | Nonperforming Financing Receivable [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 12,637 | 13,536 |
Total nonperforming | 12,637 | 13,536 |
Originated and Purchased Loans [Member] | Nonperforming Financing Receivable [Member] | Other Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 4 | 1 |
Total nonperforming | 4 | 1 |
Originated and Purchased Loans [Member] | Residential Mortgage [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans and Leases Receivable, Gross | 561,136 | 530,310 |
Originated and Purchased Loans [Member] | Residential Mortgage [Member] | Performing Financing Receivable [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans and Leases Receivable, Gross | 553,431 | 522,474 |
Originated and Purchased Loans [Member] | Residential Mortgage [Member] | Nonperforming Financing Receivable [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 7,705 | 7,836 |
Total nonperforming | 7,705 | 7,836 |
Originated and Purchased Loans [Member] | Commercial Mortgage [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans and Leases Receivable, Gross | 1,510,344 | 1,218,025 |
Originated and Purchased Loans [Member] | Commercial Mortgage [Member] | Performing Financing Receivable [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans and Leases Receivable, Gross | 1,506,945 | 1,214,653 |
Originated and Purchased Loans [Member] | Commercial Mortgage [Member] | Nonperforming Financing Receivable [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 3,399 | 3,372 |
Total nonperforming | 3,399 | 3,372 |
Originated and Purchased Loans [Member] | Commercial Business [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans and Leases Receivable, Gross | 70,742 | 71,658 |
Originated and Purchased Loans [Member] | Commercial Business [Member] | Performing Financing Receivable [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans and Leases Receivable, Gross | 69,718 | 69,819 |
Originated and Purchased Loans [Member] | Commercial Business [Member] | Nonperforming Financing Receivable [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 1,024 | 1,839 |
Total nonperforming | 1,024 | 1,839 |
Originated and Purchased Loans [Member] | Home Equity Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans and Leases Receivable, Gross | 65,874 | 64,025 |
Originated and Purchased Loans [Member] | Home Equity Loans [Member] | Performing Financing Receivable [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans and Leases Receivable, Gross | 65,421 | 63,563 |
Originated and Purchased Loans [Member] | Home Equity Loans [Member] | Nonperforming Financing Receivable [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 453 | 462 |
Total nonperforming | 453 | 462 |
Originated and Purchased Loans [Member] | Home Equity Lines of Credit [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans and Leases Receivable, Gross | 11,704 | 10,880 |
Originated and Purchased Loans [Member] | Home Equity Lines of Credit [Member] | Performing Financing Receivable [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans and Leases Receivable, Gross | 11,652 | 10,854 |
Originated and Purchased Loans [Member] | Home Equity Lines of Credit [Member] | Nonperforming Financing Receivable [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 52 | 26 |
Total nonperforming | 52 | 26 |
Loans Acquired at Fair Value [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans and Leases Receivable, Gross | 187,891 | 200,118 |
Loans Acquired at Fair Value [Member] | Construction [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans and Leases Receivable, Gross | 2,346 | 2,383 |
Loans Acquired at Fair Value [Member] | Other Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans and Leases Receivable, Gross | 79 | 87 |
Loans Acquired at Fair Value [Member] | Performing Financing Receivable [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans and Leases Receivable, Gross | 179,019 | 190,759 |
Loans Acquired at Fair Value [Member] | Performing Financing Receivable [Member] | Construction [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans and Leases Receivable, Gross | 333 | 346 |
Loans Acquired at Fair Value [Member] | Performing Financing Receivable [Member] | Other Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans and Leases Receivable, Gross | 77 | 86 |
Loans Acquired at Fair Value [Member] | Nonperforming Financing Receivable [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 8,872 | 9,359 |
Total nonperforming | 8,872 | 9,359 |
Loans Acquired at Fair Value [Member] | Nonperforming Financing Receivable [Member] | Construction [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 2,013 | 2,037 |
Total nonperforming | 2,013 | 2,037 |
Loans Acquired at Fair Value [Member] | Nonperforming Financing Receivable [Member] | Other Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 2 | 1 |
Total nonperforming | 2 | 1 |
Loans Acquired at Fair Value [Member] | Residential Mortgage [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans and Leases Receivable, Gross | 58,071 | 62,011 |
Loans Acquired at Fair Value [Member] | Residential Mortgage [Member] | Performing Financing Receivable [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans and Leases Receivable, Gross | 57,958 | 61,895 |
Loans Acquired at Fair Value [Member] | Residential Mortgage [Member] | Nonperforming Financing Receivable [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 113 | 116 |
Total nonperforming | 113 | 116 |
Loans Acquired at Fair Value [Member] | Commercial Mortgage [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans and Leases Receivable, Gross | 85,645 | 91,078 |
Loans Acquired at Fair Value [Member] | Commercial Mortgage [Member] | Performing Financing Receivable [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans and Leases Receivable, Gross | 81,696 | 87,273 |
Loans Acquired at Fair Value [Member] | Commercial Mortgage [Member] | Nonperforming Financing Receivable [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 3,949 | 3,805 |
Total nonperforming | 3,949 | 3,805 |
Loans Acquired at Fair Value [Member] | Commercial Business [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans and Leases Receivable, Gross | 26,503 | 27,793 |
Loans Acquired at Fair Value [Member] | Commercial Business [Member] | Performing Financing Receivable [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans and Leases Receivable, Gross | 24,918 | 25,688 |
Loans Acquired at Fair Value [Member] | Commercial Business [Member] | Nonperforming Financing Receivable [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 1,585 | 2,105 |
Total nonperforming | 1,585 | 2,105 |
Loans Acquired at Fair Value [Member] | Home Equity Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans and Leases Receivable, Gross | 5,473 | 6,232 |
Loans Acquired at Fair Value [Member] | Home Equity Loans [Member] | Performing Financing Receivable [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans and Leases Receivable, Gross | 5,181 | 5,882 |
Loans Acquired at Fair Value [Member] | Home Equity Loans [Member] | Nonperforming Financing Receivable [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 292 | 350 |
Total nonperforming | 292 | 350 |
Loans Acquired at Fair Value [Member] | Home Equity Lines of Credit [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans and Leases Receivable, Gross | 9,774 | 10,534 |
Loans Acquired at Fair Value [Member] | Home Equity Lines of Credit [Member] | Performing Financing Receivable [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Loans and Leases Receivable, Gross | 8,856 | 9,589 |
Loans Acquired at Fair Value [Member] | Home Equity Lines of Credit [Member] | Nonperforming Financing Receivable [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Nonaccrual | 918 | 945 |
Total nonperforming | $ 918 | $ 945 |
Loan Quality and Allowance fo53
Loan Quality and Allowance for Loan Losses - Impairment Status of Loans Receivable (Detail) - USD ($) $ in Thousands | 3 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Jun. 30, 2015 | |
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Loans and Leases Receivable, Gross | $ 2,414,932 | $ 2,102,548 | |
Unpaid principal balance of impaired loans | 41,361 | 43,230 | |
Average balance of impaired loans | 32,802 | $ 37,605 | |
Interest earned on impaired loans | 313 | 275 | |
Construction [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Loans and Leases Receivable, Gross | 5,086 | 5,711 | |
Unpaid principal balance of impaired loans | 2,113 | 2,118 | |
Average balance of impaired loans | 2,025 | 1,432 | |
Other Consumer [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Loans and Leases Receivable, Gross | 4,580 | 4,291 | |
Residential Mortgage [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Loans and Leases Receivable, Gross | 619,207 | 592,321 | |
Unpaid principal balance of impaired loans | 16,740 | 17,132 | |
Average balance of impaired loans | 10,037 | 13,169 | |
Interest earned on impaired loans | 70 | 29 | |
Commercial Mortgage [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Loans and Leases Receivable, Gross | 1,595,989 | 1,309,103 | |
Unpaid principal balance of impaired loans | 9,114 | 8,862 | |
Average balance of impaired loans | 7,973 | 8,407 | |
Interest earned on impaired loans | 12 | 46 | |
Commercial Business [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Loans and Leases Receivable, Gross | 97,245 | 99,451 | |
Unpaid principal balance of impaired loans | 10,873 | 12,542 | |
Average balance of impaired loans | 10,290 | 11,903 | |
Interest earned on impaired loans | 217 | 189 | |
Home Equity Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Loans and Leases Receivable, Gross | 71,347 | 70,257 | |
Unpaid principal balance of impaired loans | 1,494 | 1,575 | |
Average balance of impaired loans | 1,519 | 1,639 | |
Interest earned on impaired loans | 14 | 11 | |
Home Equity Lines of Credit [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Loans and Leases Receivable, Gross | 21,478 | 21,414 | |
Unpaid principal balance of impaired loans | 1,027 | 1,001 | |
Average balance of impaired loans | 958 | $ 1,055 | |
Originated and Purchased Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Non-impaired loans | 2,211,456 | 1,885,873 | |
Impaired loans with no allowance for impairment | 11,430 | 12,513 | |
Recorded investment | 4,155 | 4,044 | |
Allowance for impairment | (471) | (573) | |
Balance of impaired loans net of allowance for impairment | 3,684 | 3,471 | |
Total impaired loans, excluding allowance for impairment: | 15,585 | 16,557 | |
Loans and Leases Receivable, Gross | 2,227,041 | 1,902,430 | |
Unpaid principal balance of impaired loans | 22,880 | 24,164 | |
Originated and Purchased Loans [Member] | Construction [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Non-impaired loans | 2,740 | 3,328 | |
Loans and Leases Receivable, Gross | 2,740 | 3,328 | |
Originated and Purchased Loans [Member] | Other Consumer [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Non-impaired loans | 4,501 | 4,204 | |
Loans and Leases Receivable, Gross | 4,501 | 4,204 | |
Originated and Purchased Loans [Member] | Residential Mortgage [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Non-impaired loans | 551,063 | 520,070 | |
Impaired loans with no allowance for impairment | 7,434 | 8,387 | |
Recorded investment | 2,639 | 1,853 | |
Allowance for impairment | (218) | (116) | |
Balance of impaired loans net of allowance for impairment | 2,421 | 1,737 | |
Total impaired loans, excluding allowance for impairment: | 10,073 | 10,240 | |
Loans and Leases Receivable, Gross | 561,136 | 530,310 | |
Unpaid principal balance of impaired loans | 16,594 | 16,985 | |
Originated and Purchased Loans [Member] | Commercial Mortgage [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Non-impaired loans | 1,506,880 | 1,214,586 | |
Impaired loans with no allowance for impairment | 2,062 | 1,777 | |
Recorded investment | 1,402 | 1,662 | |
Allowance for impairment | (142) | (415) | |
Balance of impaired loans net of allowance for impairment | 1,260 | 1,247 | |
Total impaired loans, excluding allowance for impairment: | 3,464 | 3,439 | |
Loans and Leases Receivable, Gross | 1,510,344 | 1,218,025 | |
Unpaid principal balance of impaired loans | 4,160 | 4,103 | |
Originated and Purchased Loans [Member] | Commercial Business [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Non-impaired loans | 69,718 | 69,797 | |
Impaired loans with no allowance for impairment | 1,002 | 1,418 | |
Recorded investment | 22 | 443 | |
Allowance for impairment | (22) | (30) | |
Balance of impaired loans net of allowance for impairment | 413 | ||
Total impaired loans, excluding allowance for impairment: | 1,024 | 1,861 | |
Loans and Leases Receivable, Gross | 70,742 | 71,658 | |
Unpaid principal balance of impaired loans | 1,079 | 2,036 | |
Originated and Purchased Loans [Member] | Home Equity Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Non-impaired loans | 64,902 | 63,034 | |
Impaired loans with no allowance for impairment | 880 | 905 | |
Recorded investment | 92 | 86 | |
Allowance for impairment | (89) | (12) | |
Balance of impaired loans net of allowance for impairment | 3 | 74 | |
Total impaired loans, excluding allowance for impairment: | 972 | 991 | |
Loans and Leases Receivable, Gross | 65,874 | 64,025 | |
Unpaid principal balance of impaired loans | 995 | 1,014 | |
Originated and Purchased Loans [Member] | Home Equity Lines of Credit [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Non-impaired loans | 11,652 | 10,854 | |
Impaired loans with no allowance for impairment | 52 | 26 | |
Total impaired loans, excluding allowance for impairment: | 52 | 26 | |
Loans and Leases Receivable, Gross | 11,704 | 10,880 | |
Unpaid principal balance of impaired loans | 52 | 26 | |
Loans Acquired at Fair Value [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Non-impaired loans | 171,395 | 183,116 | |
Impaired loans with no allowance for impairment | 15,491 | 15,461 | |
Recorded investment | 1,005 | 1,541 | |
Allowance for impairment | (281) | (478) | |
Balance of impaired loans net of allowance for impairment | 724 | 1,063 | |
Total impaired loans, excluding allowance for impairment: | 16,496 | 17,002 | |
Loans and Leases Receivable, Gross | 187,891 | 200,118 | |
Unpaid principal balance of impaired loans | 18,481 | 19,066 | |
Loans Acquired at Fair Value [Member] | Construction [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Non-impaired loans | 333 | 346 | |
Impaired loans with no allowance for impairment | 2,013 | 2,037 | |
Total impaired loans, excluding allowance for impairment: | 2,013 | 2,037 | |
Loans and Leases Receivable, Gross | 2,346 | 2,383 | |
Unpaid principal balance of impaired loans | 2,113 | 2,118 | |
Loans Acquired at Fair Value [Member] | Other Consumer [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Non-impaired loans | 79 | 87 | |
Loans and Leases Receivable, Gross | 79 | 87 | |
Loans Acquired at Fair Value [Member] | Residential Mortgage [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Non-impaired loans | 57,958 | 61,895 | |
Impaired loans with no allowance for impairment | 113 | 116 | |
Total impaired loans, excluding allowance for impairment: | 113 | 116 | |
Loans and Leases Receivable, Gross | 58,071 | 62,011 | |
Unpaid principal balance of impaired loans | 146 | 147 | |
Loans Acquired at Fair Value [Member] | Commercial Mortgage [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Non-impaired loans | 80,997 | 86,564 | |
Impaired loans with no allowance for impairment | 4,213 | 4,072 | |
Recorded investment | 435 | 442 | |
Allowance for impairment | (108) | (114) | |
Balance of impaired loans net of allowance for impairment | 327 | 328 | |
Total impaired loans, excluding allowance for impairment: | 4,648 | 4,514 | |
Loans and Leases Receivable, Gross | 85,645 | 91,078 | |
Unpaid principal balance of impaired loans | 4,954 | 4,759 | |
Loans Acquired at Fair Value [Member] | Commercial Business [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Non-impaired loans | 18,175 | 18,937 | |
Impaired loans with no allowance for impairment | 8,192 | 8,214 | |
Recorded investment | 136 | 642 | |
Allowance for impairment | (171) | (340) | |
Balance of impaired loans net of allowance for impairment | (35) | 302 | |
Total impaired loans, excluding allowance for impairment: | 8,328 | 8,856 | |
Loans and Leases Receivable, Gross | 26,503 | 27,793 | |
Unpaid principal balance of impaired loans | 9,794 | 10,506 | |
Loans Acquired at Fair Value [Member] | Home Equity Loans [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Non-impaired loans | 4,997 | 5,698 | |
Impaired loans with no allowance for impairment | 476 | 534 | |
Total impaired loans, excluding allowance for impairment: | 476 | 534 | |
Loans and Leases Receivable, Gross | 5,473 | 6,232 | |
Unpaid principal balance of impaired loans | 499 | 561 | |
Loans Acquired at Fair Value [Member] | Home Equity Lines of Credit [Member] | |||
Financing Receivable, Recorded Investment, Past Due [Line Items] | |||
Non-impaired loans | 8,856 | 9,589 | |
Impaired loans with no allowance for impairment | 484 | 488 | |
Recorded investment | 434 | 457 | |
Allowance for impairment | (2) | (24) | |
Balance of impaired loans net of allowance for impairment | 432 | 433 | |
Total impaired loans, excluding allowance for impairment: | 918 | 945 | |
Loans and Leases Receivable, Gross | 9,774 | 10,534 | |
Unpaid principal balance of impaired loans | $ 975 | $ 975 |
Loan Quality and Allowance fo54
Loan Quality and Allowance for Loan Losses - Troubled Debt Restructurings of Loans Receivable (Detail) $ in Thousands | 3 Months Ended | |
Sep. 30, 2015USD ($)Loan | Sep. 30, 2014USD ($)Loan | |
Originated and Purchased Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of loans | Loan | 2 | 2 |
Pre-modification outstanding recorded investment | $ 693 | $ 664 |
Post-modification outstanding recorded investment | 431 | 673 |
Charge offs against the allowance for loan loss recognized at modification | $ 231 | $ 33 |
Loans Acquired at Fair Value [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of loans | Loan | 3 | |
Pre-modification outstanding recorded investment | $ 2,285 | |
Post-modification outstanding recorded investment | $ 2,290 | |
Residential Mortgage [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of loans | Loan | 35 | |
Residential Mortgage [Member] | Originated and Purchased Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of loans | Loan | 2 | 2 |
Pre-modification outstanding recorded investment | $ 693 | $ 664 |
Post-modification outstanding recorded investment | 431 | 673 |
Charge offs against the allowance for loan loss recognized at modification | $ 231 | $ 33 |
Commercial Mortgage [Member] | Loans Acquired at Fair Value [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of loans | Loan | 3 | |
Pre-modification outstanding recorded investment | $ 2,285 | |
Post-modification outstanding recorded investment | $ 2,290 |
Borrowings - Schedule of Fixed
Borrowings - Schedule of Fixed Rate Advances from FHLB (Detail) - USD ($) $ in Thousands | Sep. 30, 2015 | Jun. 30, 2015 |
Debt Disclosure [Abstract] | ||
Federal Home Loan Bank Advances Maturities Summary Due In Remainder Of Fiscal Year | $ 432,500 | $ 382,500 |
Federal Home Loan Bank, Advances, Maturities Summary, Due in Year Two | 3,000 | 3,000 |
Federal Home Loan Bank, Advances, Maturities Summary, Due in Year Three | 5,225 | 5,225 |
Federal Home Loan Bank, Advances, Maturities Summary, Due in Year Six | 647 | 671 |
Federal Home Loan Bank, Advances, Maturities Summary, Due in Year Eight | 145,000 | 145,000 |
Federal Home Loan Bank, Advances, Total | 586,372 | 536,396 |
Federal Home Loan Bank, Advances, Fair Value Adjustments | 4 | 9 |
Total Federal Home Loan Bank, Advances, After Fair Value Adjustments | $ 586,376 | $ 536,405 |
Federal Home Loan Bank, Advances, Maturities Summary, Average Interest Rate of Amounts Due within One Year of Balance Sheet Date | 0.51% | 0.41% |
Federal Home Loan Bank, Advances, Maturities Summary, Average Interest Rate, One to Two Years from Balance Sheet Date | 1.05% | 1.05% |
Federal Home Loan Bank, Advances, Maturities Summary, Average Interest Rate, Two to Three Years from Balance Sheet Date | 1.18% | 1.18% |
Federal Home Loan Bank, Advances, Maturities Summary, Average Interest Rate, Five to Six Years from Balance Sheet Date | 4.94% | 4.94% |
Federal Home Loan Bank, Advances, Maturities Summary, Average Interest Rate, Seven to Eight to Years From Balance Sheet Date | 3.04% | 3.04% |
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Weighted Average Interest Rate | 1.15% | 1.13% |
Borrowings - Additional Informa
Borrowings - Additional Information (Detail) - USD ($) $ in Millions | Sep. 30, 2015 | Jun. 30, 2015 |
Debt Instrument [Line Items] | ||
Federal Home Loan Bank, Advances, Maturities Summary, Due in Next Twelve Months | $ 435.5 | |
Federal Home Loan Bank, advances, maturities summary, due from after one year of balance sheet date | 150.9 | |
Federal Home Loan Bank, advances, callable summary, due within one year of balance sheet date | 145 | |
Other borrowings, sweep accounts | 42 | $ 35.1 |
Mortgage-Backed Securities [Member] | ||
Debt Instrument [Line Items] | ||
Federal Home Loan Bank, advances, general debt obligations, disclosures, collateral pledged | 181.1 | 185.2 |
Investment in Federal Home Loan Bank Stock [Member] | ||
Debt Instrument [Line Items] | ||
Federal Home Loan Bank, advances, general debt obligations, disclosures, collateral pledged | $ 955.2 | $ 894.6 |
Derivative Instruments and He57
Derivative Instruments and Hedging Activities - Additional Information (Detail) | Sep. 30, 2015USD ($)Instruments | Jun. 30, 2015USD ($)InstrumentsDerivative |
Derivative [Line Items] | ||
Estimated net fair value of derivatives | $ (16,269,000) | $ (8,717,000) |
Asset position | 390,000 | 794,000 |
Liability position | 16,700,000 | 9,500,000 |
Counter Party [Member] | ||
Derivative [Line Items] | ||
Derivative asset, collateral, Obligation to return cash, offset | 16,800,000 | $ 8,700,000 |
Other Assets [Member] | ||
Derivative [Line Items] | ||
Number of interest rate derivative instruments held | Derivative | 2 | |
Other Liabilities [Member] | ||
Derivative [Line Items] | ||
Number of interest rate derivative instruments held | Derivative | 8 | |
Estimated net fair value of derivatives | $ (16,269,000) | $ (8,717,000) |
Interest Rate Swaps [Member] | ||
Derivative [Line Items] | ||
Number of interest rate derivative instruments held | Instruments | 8 | |
Estimated net fair value of derivatives | $ (16,659,000) | (9,511,000) |
Interest Rate Swaps [Member] | Other Liabilities [Member] | ||
Derivative [Line Items] | ||
Estimated net fair value of derivatives | (16,659,000) | $ (9,511,000) |
Interest Rate Caps [Member] | ||
Derivative [Line Items] | ||
Number of interest rate derivative instruments held | Instruments | 2 | |
Estimated net fair value of derivatives | 390,000 | $ 794,000 |
Interest Rate Caps [Member] | Other Liabilities [Member] | ||
Derivative [Line Items] | ||
Estimated net fair value of derivatives | $ 390,000 | $ 794,000 |
Derivative Instruments and He58
Derivative Instruments and Hedging Activities - Schedule of Interest Rate Derivatives (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | Jun. 30, 2015 | |
Derivative [Line Items] | |||
Fair Value | $ (16,269) | $ (8,717) | |
Amount of Gain (Loss) Recognized in OCI on Derivatives, net of Tax (Effective Portion) | (4,432) | $ 1,722 | |
Other Liabilities [Member] | |||
Derivative [Line Items] | |||
Notional/Contract Amount | 625,000 | 625,000 | |
Fair Value | (16,269) | (8,717) | |
Interest Rate Swaps [Member] | |||
Derivative [Line Items] | |||
Fair Value | (16,659) | $ (9,511) | |
Amount of Gain (Loss) Recognized in OCI on Derivatives, net of Tax (Effective Portion) | $ (4,228) | 1,638 | |
Interest Rate Swaps [Member] | Effective July 1, 2013 [Member] | |||
Derivative [Line Items] | |||
Expiration Date | Jul. 1, 2018 | Jul. 1, 2018 | |
Amount of Gain (Loss) Recognized in OCI on Derivatives, net of Tax (Effective Portion) | $ (735) | 645 | |
Interest Rate Swaps [Member] | Effective August 19, 2013 [Member] | |||
Derivative [Line Items] | |||
Expiration Date | Aug. 20, 2018 | Aug. 20, 2018 | |
Amount of Gain (Loss) Recognized in OCI on Derivatives, net of Tax (Effective Portion) | $ (354) | 405 | |
Interest Rate Swaps [Member] | Effective October 9, 2013 [Member] | |||
Derivative [Line Items] | |||
Expiration Date | Oct. 9, 2018 | Oct. 9, 2018 | |
Amount of Gain (Loss) Recognized in OCI on Derivatives, net of Tax (Effective Portion) | $ (275) | 265 | |
Interest Rate Swaps [Member] | Effective March 28, 2014 [Member] | |||
Derivative [Line Items] | |||
Expiration Date | Mar. 28, 2019 | Mar. 28, 2019 | |
Amount of Gain (Loss) Recognized in OCI on Derivatives, net of Tax (Effective Portion) | $ (504) | 421 | |
Interest Rate Swaps [Member] | Effective June 5, 2015 [Member] | |||
Derivative [Line Items] | |||
Expiration Date | Jun. 5, 2020 | Jun. 5, 2020 | |
Amount of Gain (Loss) Recognized in OCI on Derivatives, net of Tax (Effective Portion) | $ (635) | 133 | |
Interest Rate Swaps [Member] | Effective July 28, 2015 [Member] | |||
Derivative [Line Items] | |||
Expiration Date | Jul. 28, 2020 | Jul. 28, 2020 | |
Amount of Gain (Loss) Recognized in OCI on Derivatives, net of Tax (Effective Portion) | $ (595) | (126) | |
Interest Rate Swaps [Member] | Effective September 28, 2015 [Member] | |||
Derivative [Line Items] | |||
Expiration Date | Sep. 28, 2020 | Sep. 28, 2020 | |
Amount of Gain (Loss) Recognized in OCI on Derivatives, net of Tax (Effective Portion) | $ (585) | (53) | |
Interest Rate Swaps [Member] | Effective December 28, 2015 [Member] | |||
Derivative [Line Items] | |||
Expiration Date | Dec. 28, 2020 | Dec. 28, 2020 | |
Amount of Gain (Loss) Recognized in OCI on Derivatives, net of Tax (Effective Portion) | $ (545) | (52) | |
Interest Rate Swaps [Member] | Other Liabilities [Member] | |||
Derivative [Line Items] | |||
Notional/Contract Amount | 550,000 | $ 550,000 | |
Fair Value | (16,659) | (9,511) | |
Interest Rate Swaps [Member] | Other Liabilities [Member] | Effective July 1, 2013 [Member] | |||
Derivative [Line Items] | |||
Notional/Contract Amount | 165,000 | 165,000 | |
Fair Value | (2,010) | (768) | |
Interest Rate Swaps [Member] | Other Liabilities [Member] | Effective August 19, 2013 [Member] | |||
Derivative [Line Items] | |||
Notional/Contract Amount | 75,000 | 75,000 | |
Fair Value | (1,747) | (1,149) | |
Interest Rate Swaps [Member] | Other Liabilities [Member] | Effective October 9, 2013 [Member] | |||
Derivative [Line Items] | |||
Notional/Contract Amount | 50,000 | 50,000 | |
Fair Value | (866) | (400) | |
Interest Rate Swaps [Member] | Other Liabilities [Member] | Effective March 28, 2014 [Member] | |||
Derivative [Line Items] | |||
Notional/Contract Amount | 75,000 | 75,000 | |
Fair Value | (2,224) | (1,372) | |
Interest Rate Swaps [Member] | Other Liabilities [Member] | Effective June 5, 2015 [Member] | |||
Derivative [Line Items] | |||
Notional/Contract Amount | 60,000 | 60,000 | |
Fair Value | (2,791) | (1,717) | |
Interest Rate Swaps [Member] | Other Liabilities [Member] | Effective July 28, 2015 [Member] | |||
Derivative [Line Items] | |||
Notional/Contract Amount | 50,000 | 50,000 | |
Fair Value | (2,703) | (1,697) | |
Interest Rate Swaps [Member] | Other Liabilities [Member] | Effective September 28, 2015 [Member] | |||
Derivative [Line Items] | |||
Notional/Contract Amount | 40,000 | 40,000 | |
Fair Value | (2,277) | (1,289) | |
Interest Rate Swaps [Member] | Other Liabilities [Member] | Effective December 28, 2015 [Member] | |||
Derivative [Line Items] | |||
Notional/Contract Amount | 35,000 | 35,000 | |
Fair Value | (2,041) | (1,119) | |
Interest Rate Caps [Member] | |||
Derivative [Line Items] | |||
Fair Value | 390 | $ 794 | |
Amount of Gain (Loss) Recognized in OCI on Derivatives, net of Tax (Effective Portion) | $ (204) | 84 | |
Interest Rate Caps [Member] | Effective July 1, 2013 [Member] | |||
Derivative [Line Items] | |||
Expiration Date | Jul. 1, 2018 | Jul. 1, 2018 | |
Amount of Gain (Loss) Recognized in OCI on Derivatives, net of Tax (Effective Portion) | $ (94) | 31 | |
Interest Rate Caps [Member] | Effective June 5, 2013 [Member] | |||
Derivative [Line Items] | |||
Expiration Date | Jun. 5, 2018 | Jun. 5, 2018 | |
Amount of Gain (Loss) Recognized in OCI on Derivatives, net of Tax (Effective Portion) | $ (110) | $ 53 | |
Interest Rate Caps [Member] | Other Liabilities [Member] | |||
Derivative [Line Items] | |||
Notional/Contract Amount | 75,000 | $ 75,000 | |
Fair Value | 390 | 794 | |
Interest Rate Caps [Member] | Other Liabilities [Member] | Effective July 1, 2013 [Member] | |||
Derivative [Line Items] | |||
Notional/Contract Amount | 35,000 | 35,000 | |
Fair Value | 181 | 366 | |
Interest Rate Caps [Member] | Other Liabilities [Member] | Effective June 5, 2013 [Member] | |||
Derivative [Line Items] | |||
Notional/Contract Amount | 40,000 | 40,000 | |
Fair Value | $ 209 | $ 428 |
Benefit Plans - Schedule of Net
Benefit Plans - Schedule of Net Periodic Benefit Expense (Detail) - Benefit Equalization Plan, Postretirement Welfare Plan, Directors’ Consultation and Retirement Plan and Atlas Bank Retirement Income Plan [Member] - USD ($) $ in Thousands | 3 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
Defined Benefit Plans And Other Postretirement Benefit Plans Table Text Block [Line Items] | ||
Service cost | $ 59 | $ 57 |
Interest cost | 121 | 82 |
Amortization of unrecognized past service liability | 9 | 12 |
Amortization of unrecognized loss | 9 | 7 |
Expected return on assets | (64) | |
Net periodic benefit cost | $ 134 | $ 158 |
Fair Value of Financial Instr60
Fair Value of Financial Instruments - Schedule of Assets and Liabilities Measured At Fair Value on a Recurring Basis (Detail) - USD ($) $ in Thousands | Sep. 30, 2015 | Jun. 30, 2015 |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Debt securities available for sale (amortized cost $422,789 and $422,903) | $ 416,470 | $ 420,660 |
Mortgage-backed securities available for sale | 329,310 | 346,619 |
Securities available for sale | 745,780 | 767,279 |
Derivative instruments, Fair Value, Net | (16,269) | (8,717) |
Interest Rate Swaps [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Derivative instruments, Fair Value, Net | (16,659) | (9,511) |
Interest Rate Caps [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Derivative instruments, Fair Value, Net | 390 | 794 |
Collateralized Mortgage Obligations [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Mortgage-backed securities available for sale | 69,313 | 71,877 |
Residential Pass-Through Securities [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Mortgage-backed securities available for sale | 250,505 | 263,613 |
Commercial Pass-Through Securities [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Mortgage-backed securities available for sale | 9,492 | 11,129 |
Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Debt securities available for sale (amortized cost $422,789 and $422,903) | 416,470 | 420,660 |
Mortgage-backed securities available for sale | 329,310 | 346,619 |
Securities available for sale | 745,780 | 767,279 |
Derivative instruments, Fair Value, Net | (16,269) | (8,717) |
Significant Other Observable Inputs (Level 2) [Member] | Interest Rate Swaps [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Derivative instruments, Fair Value, Net | (16,659) | (9,511) |
Significant Other Observable Inputs (Level 2) [Member] | Interest Rate Caps [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Derivative instruments, Fair Value, Net | 390 | 794 |
Significant Other Observable Inputs (Level 2) [Member] | Collateralized Mortgage Obligations [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Mortgage-backed securities available for sale | 69,313 | 71,877 |
Significant Other Observable Inputs (Level 2) [Member] | Residential Pass-Through Securities [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Mortgage-backed securities available for sale | 250,505 | 263,613 |
Significant Other Observable Inputs (Level 2) [Member] | Commercial Pass-Through Securities [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Mortgage-backed securities available for sale | 9,492 | 11,129 |
Debt Securities [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Debt securities available for sale (amortized cost $422,789 and $422,903) | 416,470 | 420,660 |
Debt Securities [Member] | Trust Preferred Securities [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Debt securities available for sale (amortized cost $422,789 and $422,903) | 8,081 | 7,751 |
Debt Securities [Member] | U.S. Agency Securities [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Debt securities available for sale (amortized cost $422,789 and $422,903) | 7,159 | 7,263 |
Debt Securities [Member] | Obligations of State and Political Subdivisions [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Debt securities available for sale (amortized cost $422,789 and $422,903) | 27,466 | 26,835 |
Debt Securities [Member] | Asset-backed Securities [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Debt securities available for sale (amortized cost $422,789 and $422,903) | 85,178 | 88,032 |
Debt Securities [Member] | Corporate Bonds [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Debt securities available for sale (amortized cost $422,789 and $422,903) | 161,174 | 162,608 |
Debt Securities [Member] | Collateralized Loan Obligations [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Debt securities available for sale (amortized cost $422,789 and $422,903) | 127,412 | 128,171 |
Debt Securities [Member] | Significant Other Observable Inputs (Level 2) [Member] | Trust Preferred Securities [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Debt securities available for sale (amortized cost $422,789 and $422,903) | 8,081 | 7,751 |
Debt Securities [Member] | Significant Other Observable Inputs (Level 2) [Member] | U.S. Agency Securities [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Debt securities available for sale (amortized cost $422,789 and $422,903) | 7,159 | 7,263 |
Debt Securities [Member] | Significant Other Observable Inputs (Level 2) [Member] | Obligations of State and Political Subdivisions [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Debt securities available for sale (amortized cost $422,789 and $422,903) | 27,466 | 26,835 |
Debt Securities [Member] | Significant Other Observable Inputs (Level 2) [Member] | Asset-backed Securities [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Debt securities available for sale (amortized cost $422,789 and $422,903) | 85,178 | 88,032 |
Debt Securities [Member] | Significant Other Observable Inputs (Level 2) [Member] | Corporate Bonds [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Debt securities available for sale (amortized cost $422,789 and $422,903) | 161,174 | 162,608 |
Debt Securities [Member] | Significant Other Observable Inputs (Level 2) [Member] | Collateralized Loan Obligations [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Debt securities available for sale (amortized cost $422,789 and $422,903) | $ 127,412 | $ 128,171 |
Fair Value of Financial Instr61
Fair Value of Financial Instruments - Schedule of Assets and Liabilities Measured At Fair Value on a Non-recurring Basis (Detail) - USD ($) $ in Thousands | Sep. 30, 2015 | Jun. 30, 2015 |
Impaired Loans [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Non-recurring | $ 8,636 | $ 9,742 |
Impaired Loans [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Non-recurring | $ 8,636 | 9,742 |
Real Estate Owned [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Non-recurring | 547 | |
Real Estate Owned [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Non-recurring | $ 547 |
Fair Value of Financial Instr62
Fair Value of Financial Instruments - Schedule of Quantitative Information about Level 3 Fair Value Measurements (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Sep. 30, 2015 | Jun. 30, 2015 | |
Impaired Loans [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Assets, Fair Value Disclosure, Non-recurring | $ 8,636 | $ 9,742 |
Impaired Loans [Member] | Market Valuation of Underlying Collateral [Member] | Direct Disposal Costs [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Assets, Fair Value Disclosure, Non-recurring | $ 8,636 | $ 9,742 |
Valuation Techniques | Market valuation of underlying collateral | |
Unobservable Input | Direct disposal costs | |
Weighted Average | 8.21% | 9.45% |
Impaired Loans [Member] | Minimum [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Range | 6.00% | 6.00% |
Impaired Loans [Member] | Minimum [Member] | Market Valuation of Underlying Collateral [Member] | Direct Disposal Costs [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Range | 6.00% | 6.00% |
Impaired Loans [Member] | Maximum [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Range | 10.00% | 10.00% |
Impaired Loans [Member] | Maximum [Member] | Market Valuation of Underlying Collateral [Member] | Direct Disposal Costs [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Range | 10.00% | 10.00% |
Real Estate Owned [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Assets, Fair Value Disclosure, Non-recurring | $ 547 | |
Real Estate Owned [Member] | Market Valuation of Property [Member] | Direct Disposal Costs [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Assets, Fair Value Disclosure, Non-recurring | $ 547 | |
Range | 8.00% | |
Weighted Average | 8.00% | |
Real Estate Owned [Member] | Minimum [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Range | 6.00% | |
Real Estate Owned [Member] | Maximum [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Range | 10.00% |
Fair Value of Financial Instr63
Fair Value of Financial Instruments - Schedule of Quantitative Information about Level 3 Fair Value Measurements (Parenthetical) (Detail) | 3 Months Ended | 12 Months Ended |
Sep. 30, 2015 | Jun. 30, 2015 | |
Minimum [Member] | Impaired Loans [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Range | 6.00% | 6.00% |
Minimum [Member] | Real Estate Owned [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Range | 6.00% | |
Maximum [Member] | Impaired Loans [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Range | 10.00% | 10.00% |
Maximum [Member] | Real Estate Owned [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Range | 10.00% |
Fair Value of Financial Instr64
Fair Value of Financial Instruments - Additional Information (Detail) $ in Thousands | Sep. 30, 2015USD ($)Property | Jun. 30, 2015USD ($) |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Loans and Leases Receivable, Gross | $ 2,382,594 | $ 2,069,209 |
Impaired Loans [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Non-recurring | 8,636 | 9,742 |
Real Estate Owned [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Non-recurring | 547 | |
Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Loans and Leases Receivable, Gross | 2,382,594 | 2,069,209 |
Significant Unobservable Inputs (Level 3) [Member] | Impaired Loans [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Non-recurring | 8,636 | 9,742 |
Financing receivable, allowance for credit losses, individually evaluated for impairment | 407 | 1,100 |
Loans and Leases Receivable, Gross | $ 9,000 | 10,800 |
Significant Unobservable Inputs (Level 3) [Member] | Real Estate Owned [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure, Non-recurring | $ 547 | |
Properties written down | Property | 0 |
Fair Value of Financial Instr65
Fair Value of Financial Instruments - Schedule of Carrying Amounts and Fair Values of Financial Instruments (Detail) - USD ($) $ in Thousands | Sep. 30, 2015 | Jun. 30, 2015 | Sep. 30, 2014 | Jun. 30, 2014 |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||
Cash and cash equivalents, Carrying Amount | $ 102,630 | $ 340,136 | $ 126,786 | $ 135,034 |
Debt securities available for sale, Carrying Amount | 416,470 | 420,660 | ||
Mortgage-backed securities available for sale, Carrying Amount | 329,310 | 346,619 | ||
Debt securities held to maturity, Carrying Amount | 228,597 | 219,862 | ||
Mortgage-backed securities held to maturity, Carrying Amount | 429,912 | 443,479 | ||
Loans receivable, Carrying Amount | 2,399,822 | 2,087,258 | ||
FHLB stock, Carrying Amount | 29,717 | 27,468 | ||
Interest receivable, Carrying Amount | 11,058 | 9,873 | ||
Deposits, Carrying Amount | 2,463,890 | 2,465,650 | ||
Borrowings, Carrying Amount | 628,351 | 571,499 | ||
Interest payable on borrowings, Carrying Amount | 1,114 | 1,020 | ||
Cash and cash equivalents, Fair Value | 102,630 | 340,136 | ||
Debt securities available for sale (amortized cost $422,789 and $422,903) | 416,470 | 420,660 | ||
Mortgage-backed securities available for sale, Fair Value | 329,310 | 346,619 | ||
Debt securities held to maturity, Fair Value | 228,757 | 218,366 | ||
Mortgage-backed securities held to maturity, Fair Value | 436,762 | 445,501 | ||
Loans receivable, Fair Value | 2,382,594 | 2,069,209 | ||
FHLB stock, Fair Value | 29,717 | 27,468 | ||
Interest receivable, Fair Value | 11,058 | 9,873 | ||
Deposits, Fair Value | 2,474,572 | 2,476,425 | ||
Borrowings, Fair Value | 643,227 | 585,209 | ||
Interest payable on borrowings, Fair Value | 1,114 | 1,020 | ||
Derivative instruments, Fair Value, Net | (16,269) | (8,717) | ||
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||
Cash and cash equivalents, Fair Value | 102,630 | 340,136 | ||
Interest receivable, Fair Value | 11,058 | 9,873 | ||
Deposits, Fair Value | 1,450,660 | 1,463,974 | ||
Interest payable on borrowings, Fair Value | 1,114 | 1,020 | ||
Significant Other Observable Inputs (Level 2) [Member] | ||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||
Debt securities available for sale (amortized cost $422,789 and $422,903) | 416,470 | 420,660 | ||
Mortgage-backed securities available for sale, Fair Value | 329,310 | 346,619 | ||
Debt securities held to maturity, Fair Value | 228,757 | 218,366 | ||
Mortgage-backed securities held to maturity, Fair Value | 436,762 | 445,501 | ||
Derivative instruments, Fair Value, Net | (16,269) | (8,717) | ||
Significant Unobservable Inputs (Level 3) [Member] | ||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||
Loans receivable, Fair Value | 2,382,594 | 2,069,209 | ||
FHLB stock, Fair Value | 29,717 | 27,468 | ||
Deposits, Fair Value | 1,023,912 | 1,012,451 | ||
Borrowings, Fair Value | 643,227 | 585,209 | ||
Interest Rate Swaps [Member] | ||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||
Derivative instruments, Carrying Amount | (16,659) | (9,511) | ||
Derivative instruments, Fair Value, Net | (16,659) | (9,511) | ||
Interest Rate Swaps [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||
Derivative instruments, Fair Value, Net | (16,659) | (9,511) | ||
Interest Rate Caps [Member] | ||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||
Derivative instruments, Carrying Amount | 390 | 794 | ||
Derivative instruments, Fair Value, Net | 390 | 794 | ||
Interest Rate Caps [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||
Derivative instruments, Fair Value, Net | $ 390 | $ 794 |
Fair Value of Financial Instr66
Fair Value of Financial Instruments - Schedule of Carrying Amounts and Fair Values of Financial Instruments (Parenthetical) (Detail) - USD ($) $ in Thousands | Sep. 30, 2015 | Jun. 30, 2015 |
Fair Value Disclosures [Abstract] | ||
Accrued interest payable on deposits | $ 78,000 | $ 80,000 |
Comprehensive Loss - Schedule o
Comprehensive Loss - Schedule of Accumulated Other Comprehensive Loss (Detail) - USD ($) $ in Thousands | Sep. 30, 2015 | Jun. 30, 2015 |
Accumulated Other Comprehensive Income Loss [Line Items] | ||
Total accumulated other comprehensive (loss) income | $ (13,421) | $ (7,761) |
Net Unrealized Gain on Securities Available for Sale [Member] | ||
Accumulated Other Comprehensive Income Loss [Line Items] | ||
Accumulated other comprehensive (loss) income, before tax | (1,598) | (147) |
Tax effect | 660 | (108) |
Total accumulated other comprehensive (loss) income | (938) | (255) |
Net Unrealized Loss on Securities Transferred from Available for Sale to Held to Maturity [Member] | ||
Accumulated Other Comprehensive Income Loss [Line Items] | ||
Accumulated other comprehensive (loss) income, before tax | (1,095) | (1,065) |
Tax effect | 448 | 435 |
Total accumulated other comprehensive (loss) income | (647) | (630) |
Fair Value Adjustments on Derivatives [Member] | ||
Accumulated Other Comprehensive Income Loss [Line Items] | ||
Accumulated other comprehensive (loss) income, before tax | (18,622) | (11,130) |
Tax effect | 7,607 | 4,547 |
Total accumulated other comprehensive (loss) income | (11,015) | (6,583) |
Benefit Plan Adjustments [Member] | ||
Accumulated Other Comprehensive Income Loss [Line Items] | ||
Accumulated other comprehensive (loss) income, before tax | (1,388) | (494) |
Tax effect | 567 | 201 |
Total accumulated other comprehensive (loss) income | $ (821) | $ (293) |
Comprehensive Loss - Schedule68
Comprehensive Loss - Schedule of Comprehensive Loss (Detail) - USD ($) $ in Thousands | 3 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | ||
Comprehensive Income Net Of Tax [Abstract] | |||
Net unrealized holding loss on securities available for sale | $ (1,452) | $ (3,071) | |
Amortization of unrealized holding loss on securities available for sale transferred to held to maturity | [1] | (30) | 2 |
Net unrealized (loss) gain on derivatives | (7,492) | 2,911 | |
Benefit plans, Amortization of Actuarial loss | [2] | 9 | 7 |
Benefit plans, Amortization of Past service cost | [2] | 9 | 12 |
Benefit plans, Amortization of New actuarial (loss) | (911) | (363) | |
Net change in benefit plan accrued expense | (893) | (344) | |
Other comprehensive loss before taxes | (9,867) | (502) | |
Tax effect | [3] | 4,207 | (8) |
Total Other Comprehensive Loss | $ (5,660) | $ (510) | |
[1] | Represents amounts reclassified out of accumulated other comprehensive income and included in interest income on taxable securities. | ||
[2] | Represents amounts reclassified out of accumulated other comprehensive income and included in the computation of net periodic pension expense. See Note 14 – Benefit Plans for additional information. | ||
[3] | The amounts included in income taxes for items reclassified out of accumulated other comprehensive income totaled $(365) for the three ended September 30, 2015 and $(9) three months ended September 30, 2014, respectively. |
Comprehensive Loss - Schedule69
Comprehensive Loss - Schedule of Comprehensive Loss (Parenthetical) (Detail) - USD ($) $ in Thousands | 3 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | ||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | |||
Tax effect | [1] | $ (4,207) | $ 8 |
Reclassification Out of Accumulated Other Comprehensive Income [Member] | |||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | |||
Tax effect | $ (365) | $ (9) | |
[1] | The amounts included in income taxes for items reclassified out of accumulated other comprehensive income totaled $(365) for the three ended September 30, 2015 and $(9) three months ended September 30, 2014, respectively. |