Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jun. 30, 2015 | Jul. 31, 2015 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Jun. 30, 2015 | |
Document Fiscal Year Focus | 2,015 | |
Document Fiscal Period Focus | Q2 | |
Trading Symbol | UCFC | |
Entity Registrant Name | UNITED COMMUNITY FINANCIAL CORP | |
Entity Central Index Key | 707,886 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 47,772,682 |
CONSOLIDATED STATEMENTS OF FINA
CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Unaudited) - USD ($) | Jun. 30, 2015 | Dec. 31, 2014 |
Assets: | ||
Cash and deposits with banks | $ 25,575,000 | $ 21,152,000 |
Federal funds sold | 23,408,000 | 11,828,000 |
Total cash and cash equivalents | 48,983,000 | 32,980,000 |
Securities: | ||
Available for sale, at fair value | 472,972,000 | 499,790,000 |
Held to maturity, nontaxable (fair value of $4,679 and $0, respectively) | 4,775,000 | 0 |
Loans held for sale, at lower of cost or market | 25,263,000 | 20,730,000 |
Loans held for sale, at fair value | 9,839,000 | 0 |
Loans, net of allowance for loan losses of $16,881 and $17,687 | 1,224,468,000 | 1,148,093,000 |
Federal Home Loan Bank stock, at cost | 18,068,000 | 18,068,000 |
Premises and equipment, net | 20,567,000 | 21,002,000 |
Accrued interest receivable | 5,768,000 | 5,763,000 |
Real estate owned and other repossessed assets, net | 3,361,000 | 3,467,000 |
Core deposit intangible | 56,000 | 84,000 |
Cash surrender value of life insurance | 54,073,000 | 46,401,000 |
Other assets | 34,596,000 | 37,172,000 |
Total assets | 1,922,789,000 | 1,833,550,000 |
Deposits: | ||
Interest bearing | 1,233,019,000 | 1,159,871,000 |
Non-interest bearing | 206,228,000 | 187,965,000 |
Total deposits | 1,439,247,000 | 1,347,836,000 |
Federal Home Loan Bank advances | ||
Long-term Federal Home Loan Bank advances | 46,585,000 | 46,194,000 |
Short-term Federal Home Loan Bank advances | 145,500,000 | 140,000,000 |
Total Federal Home Loan Bank advances | 192,085,000 | 186,194,000 |
Repurchase agreements and other | 30,546,000 | 30,558,000 |
Total borrowed funds | 222,631,000 | 216,752,000 |
Advance payments by borrowers for taxes and insurance | 15,085,000 | 19,904,000 |
Accrued interest payable | 227,000 | 185,000 |
Accrued expenses and other liabilities | 9,137,000 | 8,738,000 |
Total liabilities | $ 1,686,327,000 | $ 1,593,415,000 |
Shareholders' Equity: | ||
Preferred stock-no par value; 1,000,000 shares authorized and no shares issued and outstanding | ||
Common stock-no par value; 499,000,000 shares authorized; 54,138,910 shares issued and 47,763,154 and 49,239,004 shares, respectively, outstanding | $ 174,076,000 | $ 174,385,000 |
Retained earnings | 134,820,000 | 128,512,000 |
Accumulated other comprehensive income (loss) | (22,045,000) | (19,998,000) |
Treasury stock, at cost, 6,375,756 and 4,899,906 shares, respectively | (50,389,000) | (42,764,000) |
Total shareholders’ equity | 236,462,000 | 240,135,000 |
Total liabilities and shareholders’ equity | $ 1,922,789,000 | $ 1,833,550,000 |
CONSOLIDATED STATEMENTS OF FIN3
CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Unaudited) (Parenthetical) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Statement Of Financial Position [Abstract] | ||
Held to maturity, Fair Value | $ 4,679 | $ 0 |
Allowance for loan losses | $ 16,881 | $ 17,687 |
Preferred stock, par value | $ 0 | $ 0 |
Preferred stock, shares authorized | 1,000,000 | 1,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value | $ 0 | $ 0 |
Common stock, shares authorized | 499,000,000 | 499,000,000 |
Common stock, shares issued | 54,138,910 | 54,138,910 |
Common stock, shares outstanding | 47,763,154 | 49,239,004 |
Treasury stock, shares | 6,375,756 | 4,899,906 |
CONSOLIDATED STATEMENTS OF INCO
CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Interest income | ||||
Loans | $ 12,890 | $ 12,361 | $ 25,581 | $ 24,483 |
Loans held for sale | 341 | 74 | 635 | 123 |
Securities available for sale | 2,679 | 3,125 | 5,540 | 6,366 |
Securities held to maturity (nontaxable) | 12 | 12 | ||
Federal Home Loan Bank stock dividends | 178 | 230 | 360 | 497 |
Other interest earning assets | 11 | 21 | 17 | 47 |
Total interest income | 16,111 | 15,811 | 32,145 | 31,516 |
Interest expense | ||||
Deposits | 1,639 | 1,627 | 3,172 | 3,304 |
Federal Home Loan Bank advances | 302 | 524 | 607 | 1,042 |
Repurchase agreements and other | 319 | 919 | 635 | 1,827 |
Total interest expense | 2,260 | 3,070 | 4,414 | 6,173 |
Net interest income | 13,851 | 12,741 | 27,731 | 25,343 |
(Recovery) provision for loan losses | 753 | (1,614) | 569 | (1,581) |
Net interest income after provision for loan losses | 13,098 | 14,355 | 27,162 | 26,924 |
Non-interest income | ||||
Non-deposit investment income | 248 | 407 | 540 | 748 |
Mortgage servicing fees | 681 | 686 | 1,355 | 1,375 |
Deposit related fees | 1,341 | 1,331 | 2,406 | 2,529 |
Mortgage servicing rights valuation | 206 | (5) | 45 | (6) |
Mortgage servicing rights amortization | (462) | (432) | (905) | (824) |
Other service fees | 20 | 37 | ||
Net gains (losses): | ||||
Securities available for sale (includes $0, $31, $11 and $34, respectively, accumulated other comprehensive income reclassifications for unrealized net gains on available for sale securities) | 31 | 11 | 34 | |
Mortgage banking income | 2,187 | 312 | 3,179 | 924 |
Change in fair value of loans held for sale, carried at fair value | (146) | 415 | ||
Real estate owned and other repossessed assets, net | (102) | (42) | (192) | (425) |
Card fees | 925 | 852 | 1,741 | 1,624 |
Other income | 377 | 298 | 761 | 683 |
Total non-interest income | 5,275 | 3,438 | 9,393 | 6,662 |
Non-interest expense | ||||
Salaries and employee benefits | 6,898 | 8,282 | 14,074 | 15,862 |
Occupancy | 768 | 815 | 1,686 | 1,748 |
Equipment and data processing | 1,719 | 1,963 | 3,391 | 3,761 |
Franchise tax | 326 | 198 | 652 | 396 |
Advertising | 221 | 247 | 363 | 436 |
Amortization of core deposit intangible | 13 | 16 | 27 | 35 |
FDIC insurance premiums | 307 | 327 | 633 | 580 |
Other insurance premiums | 85 | 135 | 169 | 272 |
Legal and consulting fees | 311 | 177 | 528 | 338 |
Other professional fees | 386 | 617 | 762 | 1,009 |
Real estate owned and other repossessed asset expenses | 18 | 137 | 159 | 350 |
Other expenses | 1,156 | 1,312 | 2,445 | 2,982 |
Total non-interest expenses | 12,208 | 14,226 | 24,889 | 27,769 |
Income before income taxes | 6,165 | 3,567 | 11,666 | 5,817 |
Income tax expense (includes $0, $11, $4 and $12 income tax expense from reclassification items) | 2,040 | (38,837) | 3,855 | (38,681) |
Net income | 4,125 | 42,404 | 7,811 | 44,498 |
Other comprehensive income | ||||
Unrealized (loss) gain on securities, net of tax | (5,937) | 3,216 | (2,040) | 15,786 |
Reclassification adjustment for (gains) losses, net of tax | (20) | (7) | (22) | |
Total other comprehensive (loss) income | (5,937) | 3,196 | (2,047) | 15,764 |
Comprehensive (loss) income | $ (1,812) | $ 45,600 | $ 5,764 | $ 60,262 |
Earnings per share | ||||
Basic | $ 0.08 | $ 0.84 | $ 0.16 | $ 0.88 |
Diluted | $ 0.08 | $ 0.84 | $ 0.16 | $ 0.88 |
CONSOLIDATED STATEMENTS OF INC5
CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (Unaudited) (Parenthetical) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Income Statement [Abstract] | ||||
Accumulated other comprehensive income | $ 0 | $ 31,000 | $ 11,000 | $ 34,000 |
Income tax expense from reclassification items | $ 0 | $ 11,000 | $ 4,000 | $ 12,000 |
CONSOLIDATED STATEMENT OF SHARE
CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY (Unaudited) - USD ($) $ in Thousands | Total | Common Stock [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Treasury Stock [Member] |
Balance at Dec. 31, 2013 | $ 175,074 | $ 174,719 | $ 81,515 | $ (41,665) | $ (39,495) |
Balance, shares at Dec. 31, 2013 | 50,339,089 | ||||
Net income | 44,498 | 44,498 | |||
Comprehensive income (loss) | 15,764 | 15,764 | |||
Stock option exercises, net value | 162 | (662) | 824 | ||
Stock option exercises, net shares | 80,000 | ||||
Stock option expenses, net | 13 | $ 13 | |||
Restricted stock grants, value | $ (932) | (1,576) | 2,508 | ||
Restricted stock grants, shares | 241,969 | ||||
Restricted stock forfeitures, value | (100) | $ 140 | 118 | (358) | |
Restricted stock forfeitures, shares | (52,475) | ||||
Restricted stock amortization | 236 | $ 236 | |||
Treasury stock purchases | (598) | (598) | |||
Treasury stock purchases, shares | (156,500) | ||||
Balance at Jun. 30, 2014 | 235,049 | $ 174,176 | 123,893 | (25,901) | (37,119) |
Balance, shares at Jun. 30, 2014 | 50,452,083 | ||||
Balance at Dec. 31, 2014 | 240,135 | $ 174,385 | 128,512 | (19,998) | (42,764) |
Balance, shares at Dec. 31, 2014 | 49,239,004 | ||||
Net income | 7,811 | 7,811 | |||
Comprehensive income (loss) | (2,047) | (2,047) | |||
Stock option exercises, net value | $ 26 | (87) | 113 | ||
Stock option exercises, net shares | 13,000 | 13,000 | |||
Stock option expenses, net | $ 13 | $ 13 | |||
Restricted stock grants, value | $ (694) | (444) | 1,138 | ||
Restricted stock grants, shares | 130,458 | ||||
Restricted stock forfeitures, value | (34) | $ 6 | 12 | (52) | |
Restricted stock forfeitures, shares | (8,091) | ||||
Restricted stock amortization | 366 | $ 366 | |||
Cash dividend payments | (984) | (984) | |||
Treasury stock purchases | (8,824) | (8,824) | |||
Treasury stock purchases, shares | (1,611,217) | ||||
Balance at Jun. 30, 2015 | $ 236,462 | $ 174,076 | $ 134,820 | $ (22,045) | $ (50,389) |
Balance, shares at Jun. 30, 2015 | 47,763,154 |
CONSOLIDATED STATEMENTS OF SHAR
CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Unaudited) (Parenthetical) | 6 Months Ended |
Jun. 30, 2015$ / shares | |
Statement Of Stockholders Equity [Abstract] | |
Cash dividend payments, per share | $ 0.02 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) | 6 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
Cash Flows from Operating Activities | ||
Net income | $ 7,811,000 | $ 44,498,000 |
Adjustments to reconcile net income to net cash provided by operating activities | ||
(Recovery) provision for loan losses | 569,000 | (1,581,000) |
Mortgage banking income | (3,179,000) | (924,000) |
Changes in fair value on loans held for sale | (415,000) | |
Net losses on real estate owned and other repossessed assets sold | 192,000 | 425,000 |
Net gain on available for sale securities sold | (11,000) | (34,000) |
Net (gain) loss on other assets sold | (21,000) | 7,000 |
Amortization of premiums and accretion of discounts | 629,000 | 483,000 |
Depreciation and amortization | 1,041,000 | 988,000 |
Net change in interest receivable | (5,000) | (68,000) |
Net change in interest payable | 42,000 | 23,000 |
Net change in prepaid and other assets | 713,000 | 2,614,000 |
Net change in other liabilities | 399,000 | 732,000 |
Stock based compensation | 345,000 | 149,000 |
Net principal disbursed on loans originated for sale | (113,776,000) | (65,276,000) |
Proceeds from sale of loans held for sale | 102,998,000 | 61,749,000 |
Net change in deferred tax assets | 3,724,000 | (38,681,000) |
Cash surrender value of life insurance | (672,000) | (712,000) |
Net change in interest rate caps | 155,000 | 332,000 |
Net cash from operating activities | 539,000 | 4,724,000 |
Cash Flows from Investing Activities | ||
Proceeds from the principal repayments and maturities of securities available for sale | 16,956,000 | 12,195,000 |
Proceeds from the sale of securities available for sale | 5,153,000 | 5,042,000 |
Proceeds from the sale of real estate owned and other repossessed assets | 1,520,000 | 2,221,000 |
Proceeds from the sale of premises and equipment | 154,000 | 30,000 |
Purchases of premises and equipment | (721,000) | (476,000) |
Principal disbursed on loans, net of repayments | (73,074,000) | (56,796,000) |
Loans purchased | (5,045,000) | |
Purchase of municipal securities held to maturity | (4,777,000) | |
Purchase of bank owned life insurance | (7,000,000) | |
Redemption of FHLB stock | 8,396,000 | |
Net cash from investing activities | (66,834,000) | (29,388,000) |
Cash Flows from Financing Activities | ||
Net increase in checking, savings and money market accounts | 70,000,000 | 24,072,000 |
Net increase (decrease) in certificates of deposit | 21,411,000 | (40,350,000) |
Net decrease in advance payments by borrowers for taxes and insurance | (4,819,000) | (7,352,000) |
Proceeds from overnight FHLB advances | 238,500,000 | 20,000,000 |
Repayments of overnight FHLB advances | (233,000,000) | (5,000,000) |
Repayments of repurchase agreements and other borrowed funds | (12,000) | (11,000) |
Proceeds from the exercise of stock options | 25,700 | 162,000 |
Dividends paid | (984,000) | |
Purchase of treasury stock | (8,824,000) | (598,000) |
Net cash from financing activities | 82,298,000 | (9,077,000) |
Change in cash and cash equivalents | 16,003,000 | (33,741,000) |
Cash and cash equivalents, beginning of period | 32,980,000 | 77,331,000 |
Cash and cash equivalents, end of period | $ 48,983,000 | $ 43,590,000 |
BASIS OF PRESENTATION
BASIS OF PRESENTATION | 6 Months Ended |
Jun. 30, 2015 | |
Accounting Policies [Abstract] | |
BASIS OF PRESENTATION | 1. BASIS OF PRESENTATION United Community Financial Corp. (United Community or the Company) was incorporated under Ohio law in February 1998 by The Home Savings and Loan Company of Youngstown, Ohio (Home Savings) in connection with the conversion of Home Savings from an Ohio mutual savings and loan association to an Ohio capital stock savings association (the Conversion). Upon consummation of the Conversion on July 8, 1998, United Community became the unitary thrift holding company for Home Savings. Home Savings, a state-chartered savings bank, conducts business from its main office located in Youngstown, Ohio, 32 full-service branches and nine loan production offices located throughout Ohio and western Pennsylvania. The accompanying consolidated financial statements of United Community have been prepared in accordance with instructions relating to Form 10-Q. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles (U.S. GAAP) for complete financial statements. However, such information reflects all adjustments (consisting solely of normal recurring adjustments) that are, in the opinion of management, necessary for a fair statement of results for the interim periods. The results of operations for the three and six months ended June 30, 2015, are not necessarily indicative of the results to be expected for the year ending December 31, 2015. The consolidated financial statements and notes thereto should be read in conjunction with the audited financial statements and notes contained in United Community’s Form 10-K for the year ended December 31, 2014. Some items in the prior year financial statements were reclassified to conform to the current presentation. These reclassifications had no effect on prior year consolidated statements of operations or shareholders’ equity. |
RECENT ACCOUNTING DEVELOPMENTS
RECENT ACCOUNTING DEVELOPMENTS | 6 Months Ended |
Jun. 30, 2015 | |
Accounting Changes And Error Corrections [Abstract] | |
RECENT ACCOUNTING DEVELOPMENTS | 2 . RECENT ACCOUNTING DEVELOPMENTS In January 2014, 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 (a consensus of the FASB Emerging Issues Task Force). Specifically, the new ASU requires a creditor to reclassify a collateralized consumer mortgage loan to real estate property upon obtaining legal title to the real estate collateral, or the borrower voluntarily conveying all interest in the real estate property to the lender to satisfy the loan through a deed in lieu of foreclosure or similar legal agreement. Additional disclosures are required detailing the amount of foreclosed residential real estate property held by the creditor and the recorded investment in consumer mortgages collateralized by real estate property that are in the process of foreclosure. The new guidance is effective for annual periods, and interim reporting periods within those annual periods, beginning after December 15, 2014. The adoption of this guidance did not have a material impact on the Company’s consolidated financial statements, but did result in additional disclosures. In May 2014, FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606) In June 2014, the FASB issued Accounting Standards Update 2014-11, Transfers and Servicing (Topic 860): Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures In February 2015, the FASB issued ASU 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis. |
STOCK COMPENSATION
STOCK COMPENSATION | 6 Months Ended |
Jun. 30, 2015 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | |
STOCK COMPENSATION | 3 . STOCK COMPENSATION Stock Options: On April 30, 2015, shareholders approved the United Community Financial Corp. 2015 Long Term Incentive Compensation Plan (the 2015 Plan). The purpose of the 2015 Plan is to provide a means through which United Community may attract and retain employees and non-employee directors, to provide incentives that align their interest with those of United Community’s shareholders and promote the success of United Community’s business. All employees and non-employee directors are eligible to participate in the 2015 Plan. The 2015 Plan provides for the issuance of up to 1,200,000 shares that are to be used for awards of stock options, stock awards, stock units, stock appreciation rights, annual bonus awards and long term incentive awards. On April 26, 2007, shareholders approved the United Community Financial Corp. 2007 Long-Term Incentive Plan (as amended, the 2007 Plan). The purpose of the 2007 Plan was to promote and advance the interests of United Community and its shareholders by enabling United Community to attract, retain and reward directors, directors emeritus, managerial and other key employees of United Community, including Home Savings, by facilitating their purchase of an ownership interest in United Community. The 2007 Plan was terminated on April 30, 2015 upon the adoption of the 2015 Plan although the 2007 Plan survives so long as awards issued under the 2007 Plan remain outstanding and exercisable. The 2007 Plan provided for the issuance of up to 2,000,000 shares that were to be used for awards of restricted stock, stock options, performance awards, stock appreciation rights (SARs), or other forms of stock-based incentive awards. On July 12, 1999, shareholders approved the United Community Financial Corp. 1999 Long-Term Incentive Plan (as amended, the 1999 Plan). The purpose of the 1999 Plan was the same as the 2007 Plan. The 1999 Plan terminated on May 20, 2009, although the 1999 Plan survives so long as options issued under the 1999 Plan remain outstanding and exercisable. The 1999 Plan provided for the grant of either incentive or nonqualified stock options. Options were awarded at exercise prices that were not less than the fair market value of the share at the grant date. The maximum number of common shares that could be issued under the 1999 Plan was 3,569,766. Because the 1999 Plan terminated, no additional options may be issued under it. All of the options awarded became exercisable on the date of grant except that options granted in 2009 became exercisable over three years beginning on December 31, 2009. All options expire 10 years from the date of grant. There were 4,359 stock options granted in the six months ended June 30, 2015 and there were 3,623 stock options granted in the six months ended June 30, 2014 under the 2007 Plan. The options must be exercised within 10 years from the date of grant. Expenses related to stock option grants are included with salaries and employee benefits. The Company recognized $6,200 and $13,000, in stock option expenses for the three and six months ended June 30, 2015, respectively. The Company recognized $6,000 and $13,000 in stock option expenses for the three and six months ended June 30, 2014, respectively. The Company expects to recognize additional expense of $10,000 for the remainder of 2015 and $7,000 in 2016. A summary of activity in the plans is as follows: For the six months ended June 30, 2015 Weighted Aggregate average intrinsic value Shares exercise price (in thousands) Outstanding at beginning of year 579,905 $ 2.52 Granted 4,359 5.43 Exercised (13,000 ) 1.98 Forfeited and expired — — Outstanding at end of period 571,264 2.55 $ 1,638 Options exercisable at end of period 553,014 2.49 $ 1,618 Information related to the stock option plans for the six months ended June 30, 2015 and 2014 follows: June 30, 2015 June 30, 2014 Intrinsic value of options exercised $ 43,641 $ 135,800 Cash received from option exercises 25,700 162,000 Tax benefit realized from option exercises — 10,267 Weighted average fair value of options granted, per share $ 1.72 $ 1.70 As of June 30, 2015, the cost of nonvested stock options is expected to be recognized over a weighted-average period of 2.0 years. The fair value of options granted during the three and six months ended June 30, 2015 and 2014 was determined using the following weighted-average assumptions as of the grant date: Three months ended Six months ended June 30, 2015 June 30, 2014 June 30, 2015 June 30, 2014 Risk-free interest rate 1.35 % 1.79 % 1.42 % 1.76 % Expected term (years) 5 5 5 5 Expected stock volatility 36.17 % 58.62 % 36.42 % 64.98 % Dividend yield 0.72 % — % 0.74 % — % Outstanding stock options at June 30, 2015 have a weighted average remaining life of 4.54 years and may be exercised in the range of $1.20 to $5.89. Restricted Stock Awards: The 2007 Plan permitted the issuance of restricted stock awards to employees and nonemployee directors. Nonvested shares at June 30, 2015 aggregated 264,228, of which 32,230 will vest during 2015, 96,254 will vest in 2016, 84,821 will vest in 2017 and 50,923 will vest in 2018. Expenses related to restricted stock awards are charged to salaries and employee benefits and are recognized over the vesting period of the awards based on the market value of the shares at the grant date. The Company recognized approximately $176,000 and $366,000 in restricted stock award expenses for the three and six months ended June 30, 2015, respectively, and approximately $58,000 and $236,000 in restricted stock award expenses for the three and six months ended June 30, 2014. The Company expects to recognize additional expenses of approximately $333,000 in 2015, $503,000 in 2016, $253,000 in 2017 and $93,000 in 2018. A summary of changes in the Company’s nonvested restricted shares for the six months ended June 30, 2015 is as follows: For the six months ended June 30, 2015 Weighted average grant date Shares fair value Nonvested at beginning of year 223,624 $ 3.88 Granted 130,458 5.32 Vested (81,763 ) 4.20 Forfeited (8,091 ) 4.87 Nonvested shares at end of period 264,228 $ 4.46 Executive Incentive Plan The Executive Incentive Plan (“EIP”) provides incentive compensation awards to certain officers of the Company. Executive incentive awards are generally based upon the actual performance of the Company for the twelve months ending December 31, compared to the actual performance of a peer group during the same twelve month period. The target incentive awards for each year are measured as a percentage of the base salary of participating officers. Once the awards under the EIP are calculated, they are paid 80% in cash and 20% in restricted stock. The restricted stock will be granted and vest equally over three years, beginning on the first anniversary of the date the restricted stock is issued. The Company incurred $62,000 and $131,000 in expense for the restricted stock portion of the EIP and $319,000 and $487,000 for the cash portion of the EIP for the three and six months ended June 30, 2015, respectively. The Company incurred $51,000 and $157,000 in expense for the restricted stock portion of the EIP and $160,000 and $260,000 for the cash portion of the EIP for the three and six months ended June 30, 2014, respectively. Restricted stock expenses for the EIP are included in the total restricted stock expenses discussed above. Long-term Incentive Plan The Long-term Incentive Plan (“LTIP”) provides a long-term incentive compensation opportunity to certain executive officers, whose participation and target award opportunities will be approved by the Compensation Committee of the Board of Directors. Each participant in the LTIP will be granted a target number of Performance Share Units (“PSUs”). Target PSUs will be determined as a percentage of base salary and translated into share units based on the Company’s average stock price at the appropriate measurement date. The performance period for the annual grant for a given year will be from January 1, year 1 through December 31, year 3. The Company incurred $23,000 and $71,000 in expense for the LTIP for the three and six months ended June 30, 2015, respectively. The Company incurred $6,000 and $44,000 in expense for the LTIP for the three and six months ended June 30, 2014, respectively. |
SECURITIES
SECURITIES | 6 Months Ended |
Jun. 30, 2015 | |
Investments Debt And Equity Securities [Abstract] | |
SECURITIES | 4 . SECURITIES Components of the available for sale portfolio are as follows: June 30, 2015 Gross Gross Amortized unrealized unrealized Fair cost gains losses value (Dollars in thousands) Available for Sale U.S. Treasury and government sponsored entities' securities $ 226,539 $ 125 $ (5,569 ) $ 221,095 Mortgage-backed GSE securities: residential 256,221 93 (4,437 ) 251,877 Total $ 482,760 $ 218 $ (10,006 ) $ 472,972 December 31, 2014 Gross Gross Amortized unrealized unrealized Fair cost gains losses value (Dollars in thousands) Available for Sale U.S. Treasury and government sponsored entities' securities $ 232,225 $ 184 $ (4,452 ) $ 227,957 Mortgage-backed GSE securities: residential 274,204 331 (2,702 ) 271,833 Total $ 506,429 $ 515 $ (7,154 ) $ 499,790 Components of held to maturity securities portfolio are as follows: June 30, 2015 Gross Gross Amortized unrecognized unrecognized Fair cost gains losses value (Dollars in thousands) Held to maturity States of the U.S. and political subdivisions $ 4,775 $ — $ (96 ) $ 4,679 Total $ 4,775 $ — $ (96 ) $ 4,679 The Company had no held to maturity securities at December 31, 2014. Debt securities available for sale by contractual maturity, repricing or expected call date are shown below: June 30, 2015 Amortized cost Fair value (Dollars in thousands) Due in one year or less $ — $ — Due after one year through five years — — Due after five years through ten years 199,219 194,901 Due after ten years 27,320 26,194 Mortgage-backed GSE securities: residential 256,221 251,877 Total $ 482,760 $ 472,972 Debt securities held to maturity by contractual maturity, repricing or expected call date are shown below: June 30, 2015 Amortized cost Fair value (Dollars in thousands) Due in one year or less $ — $ — Due after one year through five years — — Due after five years through ten years 570 561 Due after ten years 4,205 4,118 Mortgage-backed GSE securities: residential $ — $ — Total $ 4,775 $ 4,679 Securities pledged for Securities available for sale that have been in an unrealized loss position for less than twelve months or twelve months or more are as follows: June 30, 2015 Less than 12 months 12 months or more Total Fair Unrealized loss Fair Unrealized loss Fair Unrealized value Loss value Loss value Loss (Dollars in thousands) Description of securities: U.S. Treasury and government sponsored entities $ 153,352 $ (3,434 ) $ 54,383 $ (2,135 ) $ 207,735 $ (5,569 ) Mortgage-backed GSE securities: residential 121,603 (1,280 ) 103,555 (3,157 ) 225,158 (4,437 ) Total temporarily impaired securities $ 274,955 $ (4,714 ) $ 157,938 $ (5,292 ) $ 432,893 $ (10,006 ) December 31, 2014 Less than 12 months 12 months or more Total Fair Unrealized loss Fair Unrealized loss Fair Unrealized loss value Loss value Loss value Loss (Dollars in thousands) Description of securities: U.S. Treasury and government sponsored entities $ — $ — $ 214,495 $ (4,452 ) $ 214,495 $ (4,452 ) Mortgage-backed GSE securities: residential 4,625 (40 ) 193,434 (2,662 ) 198,059 (2,702 ) Total temporarily impaired securities $ 4,625 $ (40 ) $ 407,929 $ (7,114 ) $ 412,554 $ (7,154 ) Securities held to maturity that have been in an unrealized loss position for less than twelve months or twelve months or more are as follows: June 30, 2015 Less than 12 months 12 months or more Total Fair Unrealized loss Fair Unrealized loss Fair Unrealized loss value Loss value Loss value Loss (Dollars in thousands) Description of securities: States of the U.S. and political subdivisions $ 4,679 $ (96 ) $ — $ — $ 4,679 $ (96 ) Total temporarily impaired securities $ 4,679 $ (96 ) $ — $ — $ 4,679 $ (96 ) All of the U.S. Treasury and government sponsored entities (GSE) and mortgage-backed securities that were temporarily impaired at June 30, 2015 and December 31, 2014, were impaired due to the level of interest rates at that time. Unrealized losses on these securities have not been recognized into income as of June 30, 2015 and December 31, 2014 because the issuer’s securities are of high credit quality (rated AA or higher), it is likely that management will not be required to sell the securities prior to their anticipated recovery, and the decline in fair value is largely due to changes in interest rates and other market conditions. There is risk that longer term rates could rise further resulting in greater unrealized losses. All of the securities are GSE issued debt or mortgage-backed securities and carry the same rating as the U.S. Government. The Company expects to realize all interest and principal on these securities and has no intent to sell and more than likely will not be required to sell these securities before their anticipated recovery. At June 30, 2015 and December 31, 2014, all of the mortgage-backed securities held by the Company were issued by U.S. government sponsored agencies, primarily Fannie Mae and Freddie Mac, institutions which the government has affirmed its commitment to support. Because the decline in fair value is attributable to changes in interest rates and illiquidity, and not credit quality, and because the Company does not have the intent to sell these mortgage-backed securities and it is likely that it will not be required to sell the securities before their anticipated recovery, the Company did not consider these securities to be other-than-temporarily impaired at June 30, 2015 or December 31, 2014. The Company expects to realize all interest and principal on these securities. At June 30, 2015, all of the obligations of U.S. states and political subdivisions were impaired due to the level of interest rates at that time. Unrealized losses on these securities have not been recognized into income as of June 30, 2015 because the issuer’s securities are of high credit quality (rated AA or higher), it is likely that management will not be required to sell the securities prior to their anticipated recovery, and the decline in fair value is largely due to changes in interest rates and other market conditions. Proceeds from the sale of available for sale securities were $0 and $5.0 million for the three months ended June 30, 2015 and 2014, respectively. Gross gains of $0 and $31,000 were realized on these sales during the three months ended June 30, 2015 and 2014, respectively. Proceeds from the sales of available for sale securities were $5.2 million and $5.0 million for the six months ended June 30, 2015 and 2014, respectively. Gross gains of $11,000 and $34,000 were realized on these sales during the six months ended June 30, 2015 and 2014, respectively. |
LOANS
LOANS | 6 Months Ended |
Jun. 30, 2015 | |
Receivables [Abstract] | |
LOANS | 5 . LOANS Portfolio loans consist of the following: June 30, December 31, 2015 2014 (Dollars in thousands) Commercial loans Multifamily $ 69,485 $ 60,546 Nonresidential 148,025 121,595 Land 10,231 9,484 Construction 16,265 16,064 Secured 68,813 45,088 Unsecured 456 134 Total commercial loans 313,275 252,911 Residential mortgage loans One-to four-family 709,342 694,105 Construction 34,074 37,113 Total residential mortgage loans 743,416 731,218 Consumer loans Home equity 157,909 154,776 Auto 8,169 5,902 Marine 3,054 3,917 Recreational vehicle 12,611 14,054 Other 1,953 2,105 Total consumer loans 183,696 180,754 Total loans 1,240,387 1,164,883 Less: Allowance for loan losses 16,881 17,687 Deferred loan costs, net (962 ) (897 ) Total 15,919 16,790 Loans, net $ 1,224,468 $ 1,148,093 The following tables present the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment and are based on impairment method as of June 30, 2015 and December 31, 2014 and activity for the three and six months ended June 30, 2015 and 2014. Allowance For Loan Losses Commercial Loans Residential Loans Consumer Loans Total (Dollars in thousands) For the three months ended June 30, 2015 Beginning balance $ 5,945 $ 7,666 $ 3,610 $ 17,221 Provision (recovery) 1,015 (278 ) 16 753 Charge-offs (779 ) (328 ) (357 ) (1,464 ) Recoveries 208 22 141 371 Ending balance $ 6,389 $ 7,082 $ 3,410 $ 16,881 For the six months ended June 30, 2015 Beginning balance $ 5,690 $ 8,517 $ 3,480 $ 17,687 Provision (recovery) 1,173 (1,149 ) 545 569 Charge-offs (794 ) (494 ) (888 ) (2,176 ) Recoveries 320 208 273 801 Ending balance $ 6,389 $ 7,082 $ 3,410 $ 16,881 June 30, 2015 Period-end amount allocated to: Loans individually evaluated for impairment $ 673 $ 1,651 $ 761 $ 3,085 Loans collectively evaluated for impairment 5,716 5,431 2,649 13,796 Ending balance $ 6,389 $ 7,082 $ 3,410 $ 16,881 Period-end balances: Loans individually evaluated for impairment $ 13,592 $ 19,239 $ 11,023 $ 43,854 Loans collectively evaluated for impairment 299,683 724,177 172,673 1,196,533 Ending balance $ 313,275 $ 743,416 $ 183,696 $ 1,240,387 Allowance For Loan Losses Commercial Loans Residential Loans Consumer Loans Total (Dollars in thousands) For the three months ended June 30, 2014 Beginning balance $ 7,275 $ 9,337 $ 3,942 $ 20,554 Provision (recovery) (1,565 ) (201 ) 152 (1,614 ) Charge-offs (509 ) (236 ) (447 ) (1,192 ) Recoveries 318 55 143 516 Ending balance $ 5,519 $ 8,955 $ 3,790 $ 18,264 For the six months ended June 30, 2014 Beginning balance $ 6,984 $ 9,830 $ 4,302 $ 21,116 Provision (recovery) (1,075 ) (531 ) 25 (1,581 ) Charge-offs (951 ) (551 ) (854 ) (2,356 ) Recoveries 561 207 317 1,085 Ending balance $ 5,519 $ 8,955 $ 3,790 $ 18,264 December 31, 2014 Period-end amount allocated to: Loans individually evaluated for impairment $ 717 $ 1,751 $ 842 $ 3,310 Loans collectively evaluated for impairment 4,973 6,766 2,638 14,377 Ending balance $ 5,690 $ 8,517 $ 3,480 $ 17,687 Period-end balances: Loans individually evaluated for impairment $ 14,845 $ 19,209 $ 11,843 $ 45,897 Loans collectively evaluated for impairment 238,066 712,009 168,911 1,118,986 Ending balance $ 252,911 $ 731,218 $ 180,754 $ 1,164,883 The unpaid principal balance is the total amount of the loan that is due to Home Savings. The recorded investment includes the unpaid principal balance less any chargeoffs or partial chargeoffs applied to specific loans. The unpaid principal balance and the recorded investment both exclude accrued interest receivable and deferred loan costs, both of which are immaterial. The allowance for loan losses is a valuation allowance for probable incurred credit losses. Loan losses are charged against the allowance when management believes the uncollectibility of a loan balance is confirmed. Subsequent recoveries, if any, are credited to the allowance. Management estimates the allowance balance required based on an analysis using past loan loss experience, the nature and volume of the portfolio, information about specific borrower situations, estimated collateral values, general economic conditions in the market area and other factors. Allocations of the allowance may be made for specific loans, but the entire allowance is available for any loan that, in management’s judgment, should be charged-off. Other loans not reviewed specifically by management are evaluated as a homogenous group of loans (generally single-family residential mortgage loans and all consumer credits except marine loans) using a loss factor applied to the outstanding loan balance to determine the level of reserve required. This loss factor consists of two components, a quantitative and a qualitative component. The quantitative component is based on a historical analysis of all charged-off loans, net of recovery. In determining the qualitative factors, consideration is given to such attributes as lending policies, economic conditions, nature and volume of the portfolio, management, loan quality trend, loan review, collateral value, concentrations and other external factors. At December 31, 2014, the Company evaluated two years of net charge-off history and applied the information to the current period. This component was combined with the qualitative component to arrive at the loss factor, which is applied to the outstanding principal balance by type of credit and internal risk grade applied to specific risk pools, plus specific loss allocations and adjustments for current events and conditions. As of June 30, 2015, the Company evaluated 11 quarters of net charge-off history and applied this information to the current period. This component is combined with the qualitative component to arrive at the loss factor, which is applied to the average outstanding balance of homogenous loans and is no longer being applied by internal risk grade. This change in methodology, which was made in the first quarter of 2015, did not have a material effect on the calculation of the allowance for loan losses. The change in methodology was made in order to facilitate technological improvements in the calculation of the allowance for loan loss. The following table presents loans individually evaluated for impairment by class of loans as of and for six months ended June 30, 2015: Impaired Loans (Dollars in thousands) Unpaid Principal Balance Recorded Investment Allowance for Loan Losses Allocated Average Recorded Investment Interest Income Recognized Cash Basis Income Recognized With no specific allowance recorded Commercial loans Multifamily $ 109 $ — $ — $ 64 $ 3 $ 3 Nonresidential 4,175 2,431 — 3,567 3 80 Land 3,922 496 — 523 — — Construction 1,126 88 — 276 — — Secured 3,892 3,700 — 3,702 — 1 Unsecured 1,357 — — — — 26 Total commercial loans 14,581 6,715 — 8,132 6 110 Residential mortgage loans One-to four-family 5,925 4,411 — 4,939 27 62 Construction — — — — — — Total residential mortgage loans 5,925 4,411 — 4,939 27 62 Consumer loans Home equity 1,940 1,388 — 1,586 9 24 Auto 30 22 — 47 — 1 Marine 510 284 — 221 2 12 Recreational vehicle 95 66 — 117 1 2 Other — — — 1 — — Total consumer loans 2,575 1,760 — 1,972 12 39 Total $ 23,081 $ 12,886 $ — $ 15,043 $ 45 $ 211 With a specific allowance recorded Commercial loans Multifamily $ 153 $ 85 $ 17 $ 31 $ — $ — Nonresidential 6,321 6,141 611 4,833 72 75 Land — — — — — — Construction 2,815 327 42 967 — — Secured 324 324 3 324 — — Unsecured — — — — — — Total commercial loans 9,613 6,877 673 6,155 72 75 Residential mortgage loans One-to four-family 14,828 14,828 1,651 14,524 280 302 Construction — — — — — — Total residential mortgage loans 14,828 14,828 1,651 14,524 280 302 Consumer loans Home equity 8,554 8,554 646 9,260 211 224 Auto 4 4 — 6 — — Marine — — — — — — Recreational vehicle 705 705 115 723 10 10 Other — — — — — — Total consumer loans 9,263 9,263 761 9,989 221 234 Total 33,704 30,968 3,085 30,668 573 611 Total impaired loans $ 56,785 $ 43,854 $ 3,085 $ 45,711 $ 618 $ 822 The following tables present loans individually evaluated for impairment by class of loans as of and for six months ended June 30, 2014: Impaired Loans (Dollars in thousands) Unpaid Principal Balance Recorded Investment Allowance for Loan Losses Allocated Average Recorded Investment Interest Income Recognized Cash Basis Income Recognized With no specific allowance recorded Commercial loans Multifamily $ 185 $ 86 $ — $ 347 $ — $ — Nonresidential 5,304 3,684 — 4,536 — 20 Land 3,958 532 — 498 — — Construction 1,741 739 — 824 — — Secured 3,945 3,708 — 3,948 — 2 Unsecured 3,783 — — — — 57 Total commercial loans 18,916 8,749 — 10,153 - 79 Residential mortgage loans One-to four-family 7,571 6,020 — 8,558 29 148 Construction — — — — — — Total residential mortgage loans 7,571 6,020 — 8,558 29 148 Consumer loans Home equity 2,509 1,998 — 4,517 3 46 Auto 94 79 — 57 — 5 Marine 156 156 — 159 — 5 Recreational vehicle 544 323 — 255 3 12 Other 6 6 — 2 — — Total consumer loans 3,309 2,562 — 4,990 6 68 Total $ 29,796 $ 17,331 $ — $ 23,701 $ 35 $ 295 With a specific allowance recorded Commercial loans Multifamily $ 73 $ 48 $ 6 $ 326 $ — $ — Nonresidential 1,865 1,385 78 1,015 2 7 Land — — — — — — Construction 3,436 1,811 202 2,140 — — Secured 324 324 3 162 — — Unsecured — — — — — — Total commercial loans 5,698 3,568 289 3,643 2 7 Residential mortgage loans One-to four-family 15,252 15,252 2,246 11,761 292 305 Construction — — — — — — Total residential mortgage loans 15,252 15,252 2,246 11,761 292 305 Consumer loans Home equity 10,348 10,160 949 7,568 246 260 Auto 8 8 — 4 — — Marine — — — — — — Recreational vehicle 761 761 141 743 11 11 Other — — — — — — Total consumer loans 11,117 10,929 1,090 8,315 257 271 Total 32,067 29,749 3,625 23,719 551 583 Total impaired loans $ 61,863 $ 47,080 $ 3,625 $ 47,420 $ 586 $ 878 The following table present loans individually evaluated for impairment by class of loans as of December 31, 2014: Impaired Loans (Dollars in thousands) Unpaid Principal Balance Recorded Investment Allowance for Loan Losses Allocated With no specific allowance recorded Commercial loans Multifamily $ 185 $ 85 $ — Nonresidential 7,201 5,582 — Land 3,958 532 — Construction 1,126 188 — Secured 3,903 3,702 — Unsecured 3,258 — — Total commercial loans 19,631 10,089 — Residential mortgage loans One-to four-family 6,015 4,518 — Construction — — — Total residential mortgage loans 6,015 4,518 — Consumer loans Home equity 1,901 1,262 — Auto 47 37 — Marine 151 151 — Recreational vehicle 124 81 — Other — — — Total consumer loans 2,223 1,531 — Total $ 27,869 $ 16,138 $ — With a specific allowance recorded Commercial loans Multifamily $ 33 $ 8 $ 6 Nonresidential 3,944 3,561 615 Land — — — Construction 2,815 863 93 Secured 324 324 3 Unsecured — — — Total commercial loans 7,116 4,756 717 Residential mortgage loans One-to four-family 14,691 14,691 1,751 Construction — — — Total residential mortgage loans 14,691 14,691 1,751 Consumer loans Home equity 9,577 9,577 722 Auto 7 6 1 Marine — — — Recreational vehicle 729 729 119 Other — — — Total consumer loans 10,313 10,312 842 Total 32,120 29,759 3,310 Total impaired loans $ 59,989 $ 45,897 $ 3,310 The following table present loans individual evaluated for impairment by class of loans as of and for the three months ended June 30, 2015 Impaired Loans (Dollars in thousands) Average Recorded Investment Interest Income Recognized Cash Basis Income Recognized With no specific allowance recorded Commercial loans Multifamily $ 43 $ 1 $ 2 Nonresidential 2,441 2 41 Land 514 — — Construction 138 — — Secured 3,700 — — Unsecured — — 7 Total commercial loans 6,836 3 50 Residential mortgage loans One-to four-family 4,530 17 30 Construction — — — Total residential mortgage loans 4,530 17 30 Consumer loans Home equity 1,534 4 18 Auto 27 — — Marine 289 — 7 Recreational vehicle 68 1 1 Other — — — Total consumer loans 1,918 5 26 Total $ 13,284 $ 25 $ 106 With a specific allowance recorded Commercial loans Multifamily $ 43 $ — $ — Nonresidential 6,254 34 36 Land — — — Construction 595 — — Secured 324 — — Unsecured — — — Total commercial loans 7,216 34 36 Residential mortgage loans One-to four-family 14,712 142 146 Construction — — — Total residential mortgage loans 14,712 142 146 Consumer loans Home equity 8,905 108 114 Auto 5 — — Marine — — — Recreational vehicle 711 4 4 Other — — — Total consumer loans 9,621 112 118 Total 31,549 288 300 Total impaired loans $ 44,833 $ 313 $ 406 The following table present loans individual evaluated for impairment by class of loans as of and for the three months ended June 30, 2014 Impaired Loans (Dollars in thousands) Average Recorded Investment Interest Income Recognized Cash Basis Income Recognized With no specific allowance recorded Commercial loans Multifamily $ 88 $ — $ 1 Nonresidential 3,802 — 10 Land 510 — — Construction 690 — — Secured 3,710 — 1 Unsecured — 9 23 Total commercial loans 8,800 9 35 Residential mortgage loans One-to four-family 5,226 13 84 Construction — — — Total residential mortgage loans 5,226 13 84 Consumer loans Home equity 1,875 2 21 Auto 65 — 2 Marine 157 — 2 Recreational vehicle 195 1 4 Other 4 — — Total consumer loans 2,296 3 29 Total $ 16,322 $ 25 $ 148 With a specific allowance recorded Commercial loans Multifamily $ 567 $ — $ — Nonresidential 1,404 1 3 Land — — — Construction 2,026 — — Secured 324 — — Unsecured — — — Total commercial loans 4,321 1 3 Residential mortgage loans One-to four-family 15,742 145 148 Construction — — — Total residential mortgage loans 15,742 145 148 Consumer loans Home equity 10,399 124 131 Auto 9 — — Marine — — — Recreational vehicle 794 7 7 Other — — — Total consumer loans 11,202 131 138 Total 31,265 277 289 Total impaired loans $ 47,587 $ 302 $ 437 Home Savings reclassifies a collateralized mortgage loan and consumer loans secured by real estate to real estate owned and other repossessed assets once it has either obtained legal title to the real estate collateral or the borrower voluntarily conveys all interest in the real property to the Bank to satisfy the loan through a deed in lieu of foreclosure or similar legal agreement. The table below presents loans that are in the process of foreclosure at June 30, 2015 and December 31, 2014 but legal title, deed in lieu of foreclosure or similar legal agreement to the property has not yet been obtained: June 30, 2015 December 31, 2014 Unpaid Principal Balance Recorded Investment Unpaid Principal Balance Recorded Investment (Dollars in thousands) (Dollars in thousands) Mortgage loans in process of foreclosure $ 2,176 $ 2,105 $ 1,714 $ 1,661 Consumer loans in process of foreclosure 1,035 846 707 489 The following table presents the recorded investment in nonaccrual and loans past due over 90 days and still on accrual by class of loans as of June 30, 2015: Nonaccrual Loans and Loans Past Due Over 90 Days and Still Accruing As of June 30, 2015 Nonaccrual Loans past due over 90 days and still accruing (Dollars in thousands) Commercial loans Multifamily $ 85 $ — Nonresidential 5,637 — Land 496 — Construction 415 — Secured 4,016 — Unsecured — — Total commercial loans 10,649 — Residential mortgage loans One-to four-family 6,475 — Construction — — Total residential mortgage loans 6,475 — Consumer Loans Home equity 1,490 — Auto 39 — Marine 242 — Recreational vehicle 114 — Other 2 — Total consumer loans 1,887 — Total nonaccrual loans and loans past due over 90 days and still accruing $ 19,011 $ — The following table presents the recorded investment in nonaccrual and loans past due over 90 days and still on accrual by class of loans as of December 31, 2014: Nonaccrual Loans and Loans Past Due Over 90 Days and Still Accruing As of December 31, 2014 Nonaccrual Loans past due over 90 days and still accruing (Dollars in thousands) Commercial loans Multifamily $ 93 $ — Nonresidential 5,781 — Land 531 — Construction 1,051 — Secured 4,016 — Unsecured — — Total commercial loans 11,472 — Residential mortgage loans One-to four-family 6,816 — Construction — — Total residential mortgage loans 6,816 — Consumer Loans Home equity 1,792 — Auto 66 — Marine 119 — Recreational vehicle 184 — Other 2 — Total consumer loans 2,163 — Total nonaccrual loans and loans past due over 90 days and still accruing $ 20,451 $ — The following table presents an age analysis of past-due loans, segregated by class of loans as of June 30, 2015: Past Due Loans (Dollars in thousands) 30-59 Days Past Due 60-89 Days Past Due Greater than 90 Days Past Due Total Past Due Current Loans Total Loans Commercial loans Multifamily $ — $ — $ 85 $ 85 $ 69,400 $ 69,485 Nonresidential 13 — 3,783 3,796 144,229 148,025 Land — — 496 496 9,735 10,231 Construction — — 415 415 15,850 16,265 Secured — — 4,016 4,016 64,797 68,813 Unsecured — — — — 456 456 Total commercial loans 13 — 8,795 8,808 304,467 313,275 Residential mortgage loans One-to four-family 1,414 636 4,207 6,257 703,085 709,342 Construction — — — — 34,074 34,074 Total residential mortgage loans 1,414 636 4,207 6,257 737,159 743,416 Consumer Loans: Home equity 472 136 1,122 1,730 156,179 157,909 Automobile 9 — 11 20 8,149 8,169 Marine 287 — 95 382 2,672 3,054 Recreational vehicle 33 557 16 606 12,005 12,611 Other — 3 — 3 1,950 1,953 Total consumer loans 801 696 1,244 2,741 180,955 183,696 Total loans $ 2,228 $ 1,332 $ 14,246 $ 17,806 $ 1,222,581 $ 1,240,387 The following table presents an age analysis of past-due loans, segregated by class of loans as of December 31, 2014: Past Due Loans (Dollars in thousands) 30-59 Days Past Due 60-89 Days Past Due Greater than 90 Days Past Due Total Past Due Current Loans Total Loans Commercial loans Multifamily $ — $ — $ 93 $ 93 $ 60,453 $ 60,546 Nonresidential — — 3,891 3,891 117,704 121,595 Land — — 531 531 8,953 9,484 Construction — — 1,051 1,051 15,013 16,064 Secured — — 4,016 4,016 41,072 45,088 Unsecured — — — — 134 134 Total commercial loans — — 9,582 9,582 243,329 252,911 Residential mortgage loans One-to four-family 2,279 605 4,856 7,740 686,365 694,105 Construction — — — — 37,113 37,113 Total residential mortgage loans 2,279 605 4,856 7,740 723,478 731,218 Consumer Loans: Home equity 588 183 1,531 2,302 152,474 154,776 Automobile 21 — 30 51 5,851 5,902 Marine — 686 — 686 3,231 3,917 Recreational vehicle 452 109 18 579 13,475 14,054 Other 3 4 1 8 2,097 2,105 Total consumer loans 1,064 982 1,580 3,626 177,128 180,754 Total loans $ 3,343 $ 1,587 $ 16,018 $ 20,948 $ 1,143,935 $ 1,164,883 As of June 30, 2015 and December 31, 2014, the Company has a recorded investment in troubled debt restructurings of $29.5 million and $28.1 million, respectively. The Company has allocated $2.4 million and $2.6 million of specific allowance for those loans at June 30, 2015 and December 31, 2014, respectively. The Company has committed to lend additional amounts totaling up to$41,000 and $50,000 at June 30, 2015 and December 31, 2014, respectively. The following table presents loans by class modified as troubled debt restructurings that occurred during the three months ended June 30, 2015: Number of Loans Pre-Modification Outstanding Recorded Investment Post-Modification Recorded Investment (In thousands) Commercial loans Multifamily — $ — $ — Nonresidential — — — Land — — — Construction — — — Secured — — — Unsecured — — — Total commercial loans — — — Residential mortgage loans One-to four-family 5 469 476 Construction — — — Total residential mortgage loans 5 469 476 Consumer loans Home equity 4 128 129 Auto — — — Marine — — — Recreational vehicle — — — Other — — — Total consumer loans 4 128 129 Total restructured loans 9 $ 597 $ 605 The troubled debt restructurings described above increased the allowance for loan losses by $24,000 and resulted in no charge-offs during the three months ended June 30, 2015. The following table presents loans by class modified as troubled debt restructurings that occurred during the six months ended June 30, 2015: Number of Loans Pre-Modification Outstanding Recorded Investment Post-Modification Recorded Investment (In thousands) Commercial loans Multifamily — $ — $ — Nonresidential — — — Land — — — Construction — — — Secured — — — Unsecured — — — Total commercial loans — — — Residential mortgage loans One-to four-family 10 910 930 Construction — — — Total residential mortgage loans 10 910 930 Consumer loans Home equity 6 482 483 Auto — — — Marine — — — Recreational vehicle — — — Other — — — Total consumer loans 6 482 483 Total restructured loans 16 $ 1,392 $ 1,413 The troubled debt restructurings described above increased the allowance for loan losses by $82,000 and resulted in no charge-offs during the six months ended June 30, 2015. The following table presents loans by class modified as troubled debt restructurings that occurred during the three months ended June 30, 2014: Number of Loans Pre-Modification Outstanding Recorded Investment Post-Modification Recorded Investment (Dollars in thousands) Commercial loans Multifamily — $ — $ — Nonresidential — — — Land — — — Construction — — — Secured — — — Unsecured — — — Total commercial loans — — — Residential mortgage loans One-to four-family 11 922 969 Construction — — — Total residential mortgage loans 11 922 969 Consumer loans Home equity 9 465 450 Auto — — — Marine — — — Recreational vehicle — — — Other — — — Total consumer loans 9 465 450 Total restructured loans 20 $ 1,387 $ 1,419 The troubled debt restructurings described above increased the allowance for loan losses by $59,000, and resulted in chargeoffs of $3,000 during the three months ended June 30, 2014. The following table presents loans by class modified as troubled debt restructurings that occurred during the six months ended June 30, 2014: Number of Loans Pre-Modification Outstanding Recorded Investment Post-Modification Recorded Investment (Dollars in thousands) Commercial loans Multifamily — $ — $ — Nonresidential 1 120 120 Land — — — Construction — — — Secured — — — Unsecured — — — Total commercial loans 1 120 120 Residential mortgage loans One-to four-family 20 1,491 1,545 Construction — — — Total residential mortgage loans 20 1,491 1,545 Consumer loans Home equity 19 1,017 1,009 Auto — — — Marine — — — Recreational vehicle — — — Other — — — Total consumer loans 19 1,017 1,009 Total restructured loans 40 $ 2,628 $ 2,674 The troubled debt restructurings described above increased the allowance for loan losses by $116,000, and resulted in chargeoffs of $3,000 during the six months ended June 30, 2014. The following table presents loans by class modified as troubled debt restructurings for which there was a payment default within a twelve month cycle following the modification during the six months ended June 30, 2015: Number of loans Recorded Investment (Dollars in thousands) Commercial loans Multifamily — $ — Nonresidential — — Land — — Construction — — Secured — — Unsecured — — Total commercial loans — — Residential mortgage loans One-to four-family 1 76 Construction — — Total residential mortgage loans 1 76 Consumer loans Home equity 2 56 Auto — — Marine — — Recreational vehicle — — Other — — Total consumer loans 2 56 Total restructured loans 3 $ 132 The troubled debt restructurings that subsequently defaulted described above resulted in no charge-offs during the three and six months ended June 30, 2015, and had no effect on the provision for loan losses. The following table presents loans by class modified as troubled debt restructurings for which there was a payment default within a twelve month cycle following the modification during the six months ended June 30, 2014: Number of loans Recorded Investment (Dollars in thousands) Commercial loans Multifamily — $ — Nonresidential — — Land — — Construction — — Secured — — Unsecured — — Total commercial loans — — Residential mortgage loans One-to four-family 2 74 Construction — — Total residential mortgage loans 2 74 Consumer loans Home equity 4 172 Auto — — Marine — — Recreational vehicle — — Other — — Total consumer loans 4 172 Total restructured loans 6 $ 246 The troubled debt restructurings that subsequently defaulted described above resulted in no charge-offs during the three months ended June 30, 2014, and had no effect on the provision for loan losses. A troubled debt restructuring is considered to be in payment default once it is 30 days contractually past due under the modified terms. In order to determine whether a borrower is experiencing financial difficulty, an evaluation is performed of the probability that the borrower will be in payment default on any of its debt in the foreseeable future without the modification. This evaluation is performed in accordance with the Company’s internal underwriting policy. Credit Quality Indicators: The Company categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, credit documentation, public information and current economic trends among other factors. The Company analyzes loans individually by classifying the loans as to credit risk. This analysis includes homogeneous loans past due 90 cumulative days, and all non-homogeneous loans including commercial loans and commercial real estate loans. Smaller balance homogeneous loans are primarily monitored by payment status. Asset quality ratings are divided into two groups: Pass (unclassified) and Classified. Within the unclassified group, certain loans that display potential weakness are risk rated as special mention. In addition, there are three classified risk ratings: substandard, doubtful and loss. These specific credit risk categories are defined as follows: Special Mention. Loans classified as special mention have potential weakness that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of the institution’s credit position at some future date. Substandard. Loans classified as substandard are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected. Doubtful. Loans classified as doubtful have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions and values, highly questionable and improbable. Loss. Loans classified as loss are considered uncollectible and of such little value, that continuance as assets is not warranted. Although there may be a chance of recovery on these assets, it is not practical or desirable to defer writing off the asset. The Company monitors loans on a monthly basis to determine if they should be included in one of the categories listed above. All impaired non-homogeneous credits classified as Substandard, Doubtful or Loss are analyzed on an individual basis for a specific reserve requirement. This analysis is performed on each individual credit at least annually or more frequently if warranted. As of June 30, 2015 and December 31, 2014, and based on the most recent analysis performed, the risk category of loans by class of loans is as follows: Loans June 30, 2015 (Dollars in thousands) Unclassified Classified Unclassified Special Mention Substandard Doubtful Loss Total Classified Total Loans Commercial Loans Multifamily $ 64,906 $ 2,055 $ 2,524 $ — $ — $ 2,524 $ 69,485 Nonresidential 123,491 11,592 12,942 — — 12,942 148,025 Land 9,735 — 496 — — 496 10,231 Construction 15,850 — 415 — — 415 16,265 Secured 63,319 — 5,494 — — 5,494 68,813 Unsecured 349 — 107 — — 107 456 Total commercial loans 277,650 13,647 21,978 — — 21,978 313,275 Residential mortgage loans One-to four-family 701,570 125 7,647 — — 7,647 709,342 Construction 34,074 — — — — — 34,074 Total residential mortgage loans 735,644 125 7,647 — — 7,647 743,416 Consumer Loans Home equity 156,152 — 1,757 — — 1,757 157,909 Auto 8,121 3 45 — — 45 8,169 Marine 2,770 — 284 — — 284 3,054 Recreational vehicle 12,481 — 130 — — 130 12,611 Other 1,948 — 5 — — 5 1,953 Total consumer loans 181,472 3 2,221 — — 2,221 183,696 Total loans $ 1,194,766 $ 13,775 $ 31,846 $ — $ — $ 31,846 $ 1,240,387 Loans December 31, 2014 (Dollars in thousands) Unclassified Classified Unclassified Special Mention Substandard Doubtful Loss Total Classified Total Loans Commercial Loans Multifamily $ 53,485 $ 4,134 $ 2,927 $ — $ — $ 2,927 $ 60,546 Nonresidential 92,074 12,290 17,231 — — 17,231 121,595 Land 8,952 — 532 — — 532 9,484 Construction 15,013 — 1,051 — — 1,051 16,064 Secured 39,480 900 4,708 — — 4,708 45,088 Unsecured 22 — 112 — — 112 134 Total commercial loans 209,026 17,324 26,561 — — 26,561 252,911 Residential mortgage loans One-to four-family 684,779 939 8,387 — — 8,387 694,105 Construction 37,113 — — — — — 37,113 Total residential mortgage loans 721,892 939 8,387 — — 8,387 731,218 Consumer Loans Home equity 152,599 — 2,177 — — 2,177 154,776 Auto 5,829 10 63 — — 63 5,902 Marine 3,766 — 151 — — 151 3,917 Recreational vehicle 13,846 — 208 — — 208 14,054 Other 2,099 — 6 — — 6 2,105 Total consumer loans 178,139 10 2,605 — — 2,605 180,754 Total loans $ 1,109,057 $ 18,273 $ 37,553 $ — $ — $ 37,553 $ 1,164,883 |
MORTGAGE BANKING ACTIVITIES
MORTGAGE BANKING ACTIVITIES | 6 Months Ended |
Jun. 30, 2015 | |
Mortgage Banking [Abstract] | |
MORTGAGE BANKING ACTIVITIES | 6 . MORTGAGE BANKING ACTIVITIES Mortgage loans serviced for others, which are not reported in United Community’s assets, totaled $1.1 billion as of June 30, 2015 and December 31, 2014. Mortgage banking income is comprised of gains recognized on the sale of loans and changes in fair value of mortgage banking derivatives. Mortgage loans serviced for others are not reported as assets. The principal balances of these loans are as follows: June 30, 2015 December 31, 2014 (Dollars in thousands) Mortgage loan portfolios serviced for: FHLMC $ 849,109 $ 821,609 FNMA 248,012 259,463 Escrow balances are maintained at the Federal Home Loan Bank (FHLB) in connection with serviced loans totaling $1.3 and $1.0 million at June 30, 2015 and December 31, 2014, respectively. Activity for capitalized mortgage servicing rights, included in other assets, was as follows: For the Three Months Ended June 30, For the Six Months Ended June 30, 2015 2014 2015 2014 (Dollars in thousands) Balance, beginning of period $ 5,543 $ 5,803 $ 5,535 $ 5,941 Originations 530 287 981 541 Amortized to expense (462 ) (432 ) (905 ) (824 ) Balance, end of period 5,611 5,658 5,611 5,658 Less valuation allowance (12 ) (6 ) (12 ) (6 ) Net balance $ 5,599 $ 5,652 $ 5,599 $ 5,652 Activity in the valuation allowance for mortgage servicing rights was as follows: For the Three Months Ended June 30, For the Six Months Ended June 30, 2015 2014 2015 2014 (Dollars in thousands) Balance, beginning of period $ (219 ) $ (1 ) $ (58 ) $ — Impairment charges — (5 ) (161 ) (6 ) Recoveries 207 — 207 — Balance, end of period $ (12 ) $ (6 ) $ (12 ) $ (6 ) The fair value of mortgage servicing rights as of June 30, 2015, was approximately $9.8 million and at December 31, 2014, the fair value was approximately $9.0 million. Key economic assumptions in measuring the value of mortgage servicing rights at June 30, 2015, and December 31, 2014, were as follows: June 30, 2015 December 31, 2014 Weighted average prepayment rate 195 PSA 219 PSA Weighted average life (in years) 3.54 3.61 Weighted average discount rate 8.00% 8.00% |
OTHER REAL ESTATE OWNED AND OTH
OTHER REAL ESTATE OWNED AND OTHER REPOSSESSED ASSETS | 6 Months Ended |
Jun. 30, 2015 | |
Real Estate [Abstract] | |
OTHER REAL ESTATE OWNED AND OTHER REPOSSESSED ASSETS | 7 . OTHER REAL ESTATE OWNED AND OTHER REPOSSESSED ASSETS Real estate owned and other repossessed assets at June 30, 2015 and December 31, 2014 were as follows: June 30, 2015 December 31, 2014 (Dollars in thousands) Real estate owned and other repossessed assets $ 4,556 $ 4,890 Valuation allowance (1,195 ) (1,423 ) End of period $ 3,361 $ 3,467 Activity in the valuation allowance was as follows: Three Months Ended Six Months Ended June 30, 2015 June 30, 2014 June 30, 2015 June 30, 2014 (Dollars in thousands) Beginning of period $ 1,244 $ 3,588 $ 1,423 $ 4,059 Additions charged to expense 42 146 123 438 Reductions due to sales (91 ) (171 ) (351 ) (934 ) End of period $ 1,195 $ 3,563 $ 1,195 $ 3,563 Expenses related to foreclosed and repossessed assets include: Three Months Ended June 30, 2015 June 30, 2014 (Dollars in thousands) Net (gain) loss on sales $ 60 $ (104 ) Provision for unrealized losses, net 42 146 Operating expenses, net of rental income 18 137 Total expenses $ 120 $ 179 Six Months Ended June 30, 2015 June 30, 2014 (Dollars in thousands) Net (gain) loss on sales $ 69 $ (13 ) Provision for unrealized losses, net 123 438 Operating expenses, net of rental income 159 350 Total expenses $ 351 $ 775 |
FAIR VALUE MEASUREMENT
FAIR VALUE MEASUREMENT | 6 Months Ended |
Jun. 30, 2015 | |
Fair Value Disclosures [Abstract] | |
FAIR VALUE MEASUREMENT | 8 . FAIR VALUE MEASUREMENT Fair value is the exchange price that would be received for an asset if paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. There are three levels of inputs that may be used to measure fair value: Level 1: Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date. Level 2: Significant other observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. Level 3: Significant unobservable inputs that reflect a reporting entity’s own beliefs about the assumptions that market participants would use in pricing an asset or liability. United Community uses the following methods and significant assumptions to estimate the fair value of each type of financial instrument: Available for sale securities : The fair values of securities available for sale are determined by obtaining quoted prices on nationally recognized securities exchanges (Level 1 inputs). For securities where quoted prices are not available, fair values are calculated based on market prices of similar securities (Level 2). Impaired loans: At the time a loan is considered impaired, it is valued at the lower of cost or fair value. Impaired loans carried at fair value generally receive specific allocations of the allowance for loan losses. For collateral dependent loans, fair value is commonly based on recent real estate appraisals. These appraisals may utilize a single valuation approach or a combination of approaches including comparable sales and the income approach. Adjustments are routinely made in the appraisal process by the independent appraisers to adjust for differences between the comparable sales and income data available. Such adjustments are usually significant and typically result in a Level 3 classification of the inputs for determining fair value. Non-real estate collateral may be valued using an appraisal, net book value per the borrower’s financial statements, or aging reports, adjusted or discounted based on management’s historical knowledge, changes in market conditions from the time of the valuation, and management’s expertise and knowledge of the client and client’s business, resulting in a Level 3 fair value classification. Impaired loans are evaluated on a quarterly basis for additional impairment and adjusted accordingly. Other real estate owned: Assets acquired through or instead of loan foreclosure are initially recorded at fair value less costs to sell when acquired, establishing a new cost basis. These assets are subsequently accounted for at lower of cost or fair value less estimated costs to sell. Fair value is commonly based on recent real estate appraisals. These appraisals may utilize a single valuation approach or a combination of approaches including comparable sales and the income approach. Adjustments are routinely made in the appraisal process by the independent appraisers to adjust for differences between the comparable sales and income data available. Such adjustments are usually significant and typically result in a Level 3 classification of the inputs for determining fair value. Real estate owned properties are individually evaluated at least annually for additional impairment and adjusted accordingly. Appraisals for both collateral-dependent impaired loans and other real estate owned are performed by certified general appraisers (for commercial properties) or certified residential appraisers (for residential properties) whose qualifications and licenses have been reviewed and verified by Home Savings. Once received, a member of the Special Assets Department reviews the assumptions and approaches utilized in the appraisal as well as the overall resulting fair value in comparison with the independent data sources such as recent market data or industry-wide statistics. In addition to the Special Assets Department review, a third party independent review is also performed. On an annual basis, Home Savings compares the actual selling price of collateral that has been sold to the most recent appraised value to determine what additional adjustment should be made to the appraisal value to arrive at fair value. At the time a property is acquired and classified as real estate owned, the fair value is determined utilizing the most appropriate method. A fair value in excess of $250,000 will be supported by an appraisal. After determination of fair value, each property will be recorded at the lower of cost (i.e., recorded investment in the loan) or the estimated net realizable value on the date of transfer to real estate owned. In determining net realizable value, reductions to fair market value may be taken for estimated costs of sale, conditions that must be remedied immediately upon acquisition, and other factors that negatively impact the marketability and prompt sale of the property. Mortgage servicing rights: On a quarterly basis, loan servicing rights are evaluated for impairment based upon the fair value of the rights as compared to carrying amount. If the carrying amount of an individual tranche exceeds fair value, impairment is recorded on that tranche so that the servicing asset is carried at fair value. Fair value is determined at a tranche level, based on market prices for comparable mortgage servicing contracts, when available, or alternatively based on a valuation model that calculates the present value of estimated future net servicing income. The valuation model utilizes assumptions that market participants would use in estimating future net servicing income and that can be validated against available market data (Level 2). Loans held for sale: Loans held for sale are carried at the lower of cost or fair value, which is evaluated on a pool-level basis. The fair value of loans held for sale is determined using quoted prices for similar assets, adjusted for specific attributes of that loan or other observable market data, such as outstanding commitments from third party investors (Level 2). Loans held for sale, at fair value : The Company elected the fair value option for all permanent construction loans held for sale originated on or after January 1, 2015. As noted above, the fair value of the Company’s construction perm loans held for sale was determined based on quoted prices for similar loans in active markets. The fair value of permanent construction loans held for sale is determined, based on the committed loan amount, using quoted prices for similar assets, adjusted for specific attributes of that loan and other unobservable market data, such as time it takes to complete the project (Level 3). Interest rate caps: Home Savings uses an independent third party that performs a market valuation analysis for interest rate caps. The methodology used consists of a discounted cash flow model, all future floating cash flows are projected and both floating and fixed cash flows are discounted to the valuation date. The yield curve utilized for discounting and projecting is built by obtaining publicly available third party market quotes from Reuters, which handle up to 30-year swap maturities (Level 3). Assumptions used in the valuation of interest rate caps are back-tested for reasonableness on a quarterly basis using an independent source along with a third party service. Purchased and written certificate of deposit option: Home Savings periodically enters into written and purchased option derivative instruments to facilitate the Power CD. The written and purchased options are mirror derivative instruments which are carried at fair value on the consolidated balance sheets. Home Savings uses an independent third party that performs a market valuation analysis for purchased and written certificate of deposit options. (Level 2) Assets and Liabilities Measured on a Recurring Basis: Assets and liabilities measured at fair value on a recurring basis are summarized below: Fair Value Measurements at June 30, 2015 Using: Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable June 30, Assets Inputs Inputs 2015 (Level 1) (Level 2) (Level 3) (Dollars in thousands) Assets: Available for sale securities U.S. Treasury and government sponsored entities’ securities $ 221,095 $ — $ 221,095 $ — Mortgage-backed GSE securities: residential 251,877 — 251,877 — Loans held for sale, at fair value 9,839 — — 9,839 Interest rate caps 24 — — 24 Purchased certificate of deposit option 847 — 847 — Liabilities Written certificate of deposit option 847 — 847 — Fair Value Measurements at December 31, 2014 Using: Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable December 31, Assets Inputs Inputs 2014 (Level 1) (Level 2) (Level 3) (Dollars in thousands) Assets: Available for sale securities U.S. Treasury and government sponsored entities’ securities $ 227,957 $ — $ 227,957 $ — Mortgage-backed GSE securities: residential 271,833 — 271,833 — Interest rate caps 180 — — 180 Purchased certificate of deposit option 930 — 930 — Liabilities Written certificate of deposit option 930 — 930 — There were no transfers between Level 1 and Level 2 during 2015 or 2014. The table below presents a reconciliation of all assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the three and six months ended June 30, 2015. There were no loans held for sale, carried at fair value during 2014. Loans Held for Sale, At Fair Value For the Three Months Ended June 30, For the Six Months Ended June 30, 2015 2015 (Dollars in thousands) Balance of recurring Level 3 assets at beginning of period $ 1,608 $ — Total gains (losses) for the period Included in change in fair value of loans held for sale (146 ) 415 Included in other comprehensive income — — Originations 8,377 9,424 Amortization — — Sales — — Balance of recurring Level 3 assets at end of period $ 9,839 $ 9,839 Interest Rate Caps Interest Rate Caps For the Three Months Ended June 30, For the Six Months Ended June 30, 2015 2014 2015 2014 (Dollars in thousands) Balance of recurring Level 3 assets at beginning of period $ 126 $ 419 $ 180 $ 546 Total gains (losses) for the period Included in other income 28 (75 ) 103 (73 ) Included in other comprehensive income — — — — Purchases — — — — Amortization (130 ) (130 ) (259 ) (259 ) Sales — — — — Balance of recurring Level 3 assets at end of period $ 24 $ 214 $ 24 $ 214 There were no transfers between Level 2 and Level 3 during 2015 or 2014. The following table presents quantitative information about recurring Level 3 fair value measurements at June 30, 2015: Valuation Unobservable Fair Value Technique(s) Input(s) Range Loans held for sale, at fair value $ 9,839 Comparable sales Time discount 0.00-1.80% Interest rate caps 24 Discounted cash flow Discount rate 0.49-1.18% The following table presents quantitative information about recurring Level 3 fair value measurements at December 31, 2014: Valuation Unobservable Fair Value Technique(s) Input(s) Range Interest rate caps $ 180 Discounted cash flow Discount rate 0.49-1.18% The fair value of interest rate caps was determined using proprietary models from third-party sources taking into account such factors as size of the transaction, the lack of a quoted market and the custom-tailored nature of the transaction. The fair value is inclusive of interest accruals, as applicable. The fair value of loans held for sale, at fair value was determined using pricing from a quoted market, discounted for the length of time to the completion of the construction project. Assets and Liabilities Measured on a Non-Recurring Basis: Assets and liabilities measured at fair value on a non-recurring basis are summarized below: Fair Value Measurements at June 30, 2015 Using: Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable June 30, Assets Inputs Inputs 2015 (Level 1) (Level 2) (Level 3) (Dollars in thousands) Assets: Impaired loans: Commercial loans $ 3,305 $ — $ — $ 3,305 Residential loans 601 — — 601 Consumer loans 306 — — 306 Mortgage servicing rights 215 — 215 — Other real estate owned, net Residential loans 588 — — 588 Construction loans 804 — — 804 Nonresidential loans 175 — — 175 Fair Value Measurements at December 31, 2014 Using: Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable December 31, Assets Inputs Inputs 2014 (Level 1) (Level 2) (Level 3) (Dollars in thousands) Assets: Impaired loans: Commercial loans $ 3,803 $ — $ — $ 3,803 Residential loans 765 — — 765 Consumer loans 260 — — 260 Mortgage servicing rights 1,138 — 1,138 — Other real estate owned, net Residential loans 640 — — 640 Construction loans 1,286 — — 1,286 Impaired loans with specific allocations of the allowance for loan losses, carried at fair value, which are measured for impairment using the fair value of the collateral for collateral dependent loans, had a net carrying amount of $4.2 million at June 30, 2015, that includes a specific valuation allowance of $644,000. This resulted in a decrease of the provision for loan losses of $34,000 and $36,000 during the three and six months ended June 30, 2015, respectively. Impaired loans with specific allocations of the allowance for loan losses, carried at fair value, which are measured for impairment using the fair value of the collateral for collateral dependent loans, had a net carrying amount of $3.2 million at June 30, 2014, which includes a specific valuation allowance of $277,000. This resulted in a decrease in the provision for loan losses of $30,000 for the three months ended June 30, 2014 and an increase in the provison for loan losses of $439,000 during the six months ended June 30, 2014. Impaired loans with specific allocations of the allowance for loan losses, carried at fair value, which are measured for impairment using the fair value of the collateral for collateral dependent loans, had a net carrying amount of $4.8 million at December 31, 2014, that includes a specific valuation allowance of $713,000. The significant unobservable (Level 3) inputs used in the fair value measurement of collateral for collateral dependent impaired loans included in the above table primarily relate to the adjustment between carrying values versus appraised value. During the reported periods, discounts applied to appraisals for estimated selling costs were 10%. At June 30, 2015, mortgage servicing rights carried at fair value were $215,000, resulting in a net valuation allowance of $12,000 for the six months ended June 30, 2015. At June 30, 2014, mortgage servicing rights, carried at fair value totaled $157,000, resulting in a net valuation allowance of $6,000. At December 31, 2014, mortgage servicing rights carried at fair value were $1.1 million, resulting in a valuation allowance of $58,000 at December 31, 2014. Mortgage servicing rights are valued by an independent third party that is active in purchasing and selling these instruments. Net impairment (recovery) reflected in other income totaled $(207,000) and $(46,000) for the three and six months ended June 30, 2015. Net impairment (recovery) reflected in other income totaled $5,000 and $6,000 for the three and six months ended June 30, 2014. The value reflects the characteristics of the underlying loans. At June 30, 2015, other real estate owned, carried at fair value, which is measured for impairment using the fair value of the property less estimated selling costs, had a net carrying amount of $1.8 million, with a valuation allowance of $1.2 million. This resulted in additional expenses of $42,000 and $123,000 during the three and six months ended June 30, 2015, respectively. At June 30, 2014, other real estate owned, carried at fair value, which is measured for impairment using the fair value of the property less estimated selling costs, had a gross carrying amount of $6.8 million with a valuation allowance of $3.6 million. This resulted in additional expenses of $146,000 and $438,000 during the three and six months ended June 30, 2014. At December 31, 2014, other real estate owned had a gross carrying amount of $3.3 million, with a valuation allowance of $1.4 million. The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a nonrecurring basis at June 30, 2015: Fair Value Valuation Technique(s) Unobservable Input(s) Range (Weighted Average) Impaired loans: Commercial loans $ 3,305 Sales Adjustment for differences between comparable sales 0.00%-20.00% (10.00%) Residential loans 601 Sales comparison approach Adjustment for differences between comparable sales 0.00%-10.77% (10.00%) Consumer loans 306 Sales comparison approach Adjustment for differences between comparable sales 0.00%-17.85% (17.85%) Other real estate owned: Residential loans 588 Sales comparison approach Adjustment for differences between comparable sales 0.00%-40.50% (14.55%) Construction loans 804 Sales comparison approach Adjustment for differences between comparable sales 0.00%-25.00% (12.13%) Nonresidential loans 175 Income approach Adjustment for differences in net operating income capitalization rate 0.00-12.50% (12.50%) The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a nonrecurring basis at December 31, 2014: Fair Value Valuation Technique(s) Unobservable Input(s) Range (Weighted Average) Impaired loans: Commercial loans $ 3,803 Sales comparison approach Adjustment for differences between comparable sales 0.00%-20.00% (10.00%) Residential loans 765 Sales comparison approach Adjustment for differences between comparable sales 0.00%-11.80% (3.70%) Consumer loans 260 Sales comparison approach Adjustment for differences between comparable sales 0.00%-10.00% (5.00%) Other real estate owned: Residential loans 640 Sales comparison approach Adjustment for differences between comparable sales 0.00%-51.10% (26.83%) Construction loans 1,286 Sales comparison approach Adjustment for differences between comparable sales 0.00%-58.10% (22.20%) The Company has elected the fair value option for newly originated permanent construction loans held for sale. These loans are intended for sale and the Company believes that fair value is the best indicator of the resolution of these loans. Interest income is recorded based on the contractual terms of the loan and in accordance with the Company’s policy on loans held for investment. None of these loans are 90 or more days past due nor on nonaccrual status as of June 30, 2015. June 30, 2015 (Dollars in thousands) Aggregate fair value $ 9,839 Contractual balance 9,424 Gain (loss) 415 The total amount of gains and losses from changes in fair value included in earnings for the three and six months ended June 30, 2015 for loans held for sale, at fair value were: For the Three Months Ended For the Six Months Ended June 30, 2015 June 30, 2015 (Dollars in thousands) Interest income $ — $ — Interest expense — — Change in fair value (146 ) 415 Total change in fair value $ (146 ) $ 415 In accordance with U.S. GAAP, the carrying value and estimated fair values of financial instruments at June 30, 2015 and December 31, 2014, were as follows: Fair Value Measurements at June 30, 2015 Using: June 30, 2015 Carrying Value (Level 1) (Level 2) (Level 3) (Dollars in thousands) Assets: Cash and cash equivalents $ 48,983 $ 48,983 $ — $ — Available for sale securities 472,972 — 472,972 — Held to maturity securities 4,775 — 4,679 — Loans held for sale 25,263 — 26,317 — Loans held for sale, at fair value 9,839 — — 9,839 Loans, net 1,224,468 — — 1,236,370 FHLB stock 18,068 n/a n/a n/a Accrued interest receivable 5,768 — 2,284 3,484 Interest rate caps 24 — — 24 Purchased certificate of deposit option 847 — 847 — Liabilities: Deposits: Checking, savings and money market accounts (982,536 ) (982,636 ) — — Certificates of deposit (456,711 ) — (462,628 ) — FHLB advances (192,085 ) — (192,188 ) — Repurchase agreements and other (30,546 ) — (32,312 ) — Advance payments by borrowers for taxes and insurance (15,085 ) (15,085 ) — — Accrued interest payable (227 ) — (227 ) — Written certificate of deposit option (847 ) — (847 ) — Fair Value Measurements at December 31, 2014 Using: December 31, 2014 Carrying Value (Level 1) (Level 2) (Level 3) (Dollars in thousands) Assets: Cash and cash equivalents $ 32,980 $ 32,980 $ — $ — Available for sale securities 499,790 — 499,790 — Loans held for sale 20,730 — 21,528 — Loans, net 1,148,093 — — 1,167,372 FHLB stock 18,068 n/a n/a n/a Accrued interest receivable 5,763 — 2,374 3,389 Interest rate caps 180 — — 180 Purchased certificate of deposit option 930 — 930 — Liabilities: Deposits: Checking, savings and money market accounts (912,536 ) (912,536 ) — — Certificates of deposit (435,300 ) — (442,268 ) — FHLB advances (186,194 ) — (186,290 ) — Repurchase agreements and other (30,558 ) — (32,817 ) — Advance payments by borrowers for taxes and insurance (19,904 ) (19,904 ) — — Accrued interest payable (185 ) — (185 ) — Written certificate of deposit option (930 ) — (930 ) — The methods and assumptions, not previously presented, used to estimate fair values are described as follows: (a) Cash and Cash Equivalents The carrying amounts of cash and short-term instruments approximate fair values and are classified as Level 1. (b) FHLB Stock It is not practical to determine the fair value of FHLB stock due to restrictions placed on its transferability. (c) Loans Fair values of loans, excluding loans held for sale, are estimated as follows: for variable rate loans that reprice frequently and with no significant change in credit risk, fair values are based on carrying values resulting in a Level 3 classification; fair values for other loans are estimated using discounted cash flow analyses, using interest rates currently being offered for loans with similar terms to borrowers of similar credit quality resulting in a Level 3 classification; and impaired loans are valued at the lower of cost or fair value as described previously. The methods utilized to estimate the fair value of loans do not necessarily represent an exit price. (d) Deposits The fair values disclosed for demand deposits (e.g., interest and non-interest checking, savings, and certain types of money market accounts) are, by definition, equal to the amount payable on demand at the reporting date (i.e., their carrying amount) resulting in a Level 1 classification. The carrying amounts of variable rate, fixed-term money market accounts approximate their fair values at the reporting date resulting in a Level 1 classification. Fair values for fixed and variable rate certificates of deposit are estimated using a discounted cash flow calculation that applies interest rates currently being offered on certificates of deposit to a schedule of aggregated expected monthly maturities on time deposits resulting in a Level 2 classification. (e) Other Borrowings Short-term borrowings, generally maturing within 90 days, approximate their fair values resulting in a Level 2 classification. The fair values of Home Savings long-term borrowings are estimated using discounted cash flow analyses based on the current borrowing rates for similar types of borrowing arrangements resulting in a Level 2 classification. (f) Accrued Interest Receivable/Payable The carrying amounts of accrued interest approximate fair value resulting in a Level 2 or Level 3 classification, depending on the classification of the underlying asset or liability. (g) Off-balance Sheet Instruments Fair values for off-balance sheet, credit-related financial instruments are based on fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreements and the counterparties’ credit standing. The fair value of commitments is not material. |
STATEMENT OF CASH FLOWS SUPPLEM
STATEMENT OF CASH FLOWS SUPPLEMENTAL DISCLOSURE | 6 Months Ended |
Jun. 30, 2015 | |
Supplemental Cash Flow Elements [Abstract] | |
STATEMENT OF CASH FLOWS SUPPLEMENTAL DISCLOSURE | 9 . STATEMENT OF CASH FLOWS SUPPLEMENTAL DISCLOSURE Supplemental disclosures of cash flow information are summarized below. For the Six Months Ended June 30, 2015 2014 (Dollars in thousands) Supplemental disclosures of cash flow information Cash paid (received) during the period for: Interest on deposits and borrowings $ 4,372 $ 6,150 Income taxes 100 — Supplemental schedule of noncash activities: Transfers from loans to real estate owned and other repossessed assets 1,606 853 |
EARNINGS PER SHARE
EARNINGS PER SHARE | 6 Months Ended |
Jun. 30, 2015 | |
Earnings Per Share [Abstract] | |
EARNINGS PER SHARE | 1 0 . EARNINGS PER SHARE The Company has granted stock compensation awards with nonforfeitable dividend rights which are considered participating securities. As such, earnings per share is computed using the two-class method as required by ASC 206-10-45. Basic earnings per common share is computed by dividing net income allocated to common shareholders by the weighted average number of common shares outstanding during the period which excludes the participating securities. Diluted earnings per common share includes the dilutive effect of additional potential common shares from stock compensation awards, but also excludes awards considered participating securities. Stock options for 74,058 shares were anti-dilutive for the three months ended June 30, 2015 and stock options for 87,315 shares were anti-dilutive for the three months ended June 30, 2014. Stock options for 74,058 shares were anti-dilutive for the six months ended June 30, 2015 and stock options for 87,315 shares were anti-dilutive for the six months ended June 30, 2014. For the Three Months Ended June 30, For the Six Months Ended June 30, 2015 2014 2015 2014 (Dollars in thousands, except per share data) Net income per consolidated statements of income $ 4,125 $ 42,404 $ 7,811 $ 44,498 Net income allocated to participating securities (25 ) (235 ) (39 ) (232 ) Net income allocated to common stock $ 4,100 $ 42,169 $ 7,772 $ 44,266 Basic earnings per common share computation: Distributed earnings allocated to common stock $ 490 $ — $ 979 $ — Undistributed earnings allocated to common stock 3,610 42,169 6,793 44,266 Net income allocated to common stock $ 4,100 $ 42,169 $ 7,772 $ 44,266 Weighted average common shares outstanding, including shares considered participating securities 48,649 50,554 48,968 50,481 Less: Average participating securities (290 ) (280 ) (244 ) (263 ) Weighted average shares 48,359 50,274 48,724 50,218 Basic earnings per common share $ 0.08 $ 0.84 $ 0.16 $ 0.88 Diluted earnings per common share computation: Net income allocated to common stock $ 4,100 $ 42,169 $ 7,772 $ 44,266 Weighted average common shares outstanding for basic earnings per common share 48,359 50,274 48,724 50,218 Add: Dilutive effects of assumed exercises of stock options 275 222 273 221 Weighted average shares and dilutive potential common shares 48,634 50,496 48,997 50,439 Diluted earnings per common share $ 0.08 $ 0.84 $ 0.16 $ 0.88 |
OTHER COMPREHENSIVE INCOME (LOS
OTHER COMPREHENSIVE INCOME (LOSS) | 6 Months Ended |
Jun. 30, 2015 | |
Equity [Abstract] | |
OTHER COMPREHENSIVE INCOME (LOSS) | 1 1 . OTHER COMPREHENSIVE INCOME (LOSS) Other comprehensive income (loss) included in the consolidated statements of shareholders’ equity consists of unrealized gains and losses on available for sale securities, disproportional tax effects and changes in unrealized gains and losses on the postretirement liability. The change includes reclassification of net gains or (losses) and impairment charges on sales of securities of $0 and $31,000 for the three months ended June 30, 2015 and 2014, respectively and $11,000 and $34,000 for the six months ended June 30, 2015 and 2014, respectively. Other comprehensive income (loss) components and related tax effects for the three month periods are as follows: Unrealized Gains (Losses) on Securities Available for Sale Disproportionate Tax Effect from Securities Available for Sale Unrealized Gains (Losses) from Postretirement Plan Disproportionate Tax Effect from Postretirement Plan Total June 30, 2015 (Dollars in thousands) Balances at beginning of period $ (425 ) $ (17,110 ) $ 916 $ 511 $ (16,108 ) Income tax — — — — — Balances at beginning of period, net of tax (425 ) (17,110 ) 916 511 (16,108 ) Other comprehensive income before reclassifications (5,937 ) — — — (5,937 ) Reclassification adjustment for gains realized in income — — — — — Net current period other comprehensive income (5,937 ) — — — (5,937 ) Balances at end of period, net of tax $ (6,362 ) $ (17,110 ) $ 916 $ 511 $ (22,045 ) Unrealized Gains (Losses) on Securities Available for Sale Disproportionate Tax Effect from Securities Available for Sale Unrealized Gains (Losses) from Postretirement Plan Disproportionate Tax Effect from Postretirement Plan Total June 30, 2014 (Dollars in thousands) Balances at beginning of period $ (27,825 ) $ (2,972 ) $ 1,829 $ (129 ) $ (29,097 ) Income tax 14,138 (14,138 ) (640 ) 640 — Balances at beginning of period, net of tax (13,687 ) (17,110 ) 1,189 511 (29,097 ) Other comprehensive income before reclassifications 3,216 — — — 3,216 Reclassification adjustment for gains realized in income (20 ) — — — (20 ) Net current period other comprehensive income 3,196 — — — 3,196 Balances at end of period, net of tax $ (10,491 ) $ (17,110 ) $ 1,189 $ 511 $ (25,901 ) Other comprehensive income (loss) components and related tax effects for the six month periods are as follows: Unrealized Gains (Losses) on Securities Available for Sale Disproportionate Tax Effect from Securities Available for Sale Unrealized Gains (Losses) From Postretirement Plan Disproportionate Tax Effect from Postretirement Plan Total June 30, 2015 (Dollars in thousands) Balances at beginning of period $ (4,315 ) $ (17,110 ) $ 916 $ 511 $ (19,998 ) Income tax — — — — — Balances at beginning of period, net of tax (4,315 ) (17,110 ) 916 511 (19,998 ) Other comprehensive income before reclassifications (2,040 ) — — — (2,040 ) Reclassification adjustment for gains realized in income (7 ) — — — (7 ) Net current period other comprehensive income (2,047 ) — — — (2,047 ) Balances at end of period, net of tax $ (6,362 ) $ (17,110 ) $ 916 $ 511 $ (22,045 ) Unrealized Gains (Losses) on Securities Available for Sale Disproportionate Tax Effect from Securities Available for Sale Unrealized Gains (Losses) From Postretirement Plan Disproportionate Tax Effect from Postretirement Plan Total June 30, 2014 (Dollars in thousands) Balances at beginning of period $ (40,393 ) $ (2,972 ) $ 1,829 $ (129 ) $ (41,665 ) Income tax 14,138 (14,138 ) (640 ) 640 — Balances at beginning of period, net of tax (26,255 ) (17,110 ) 1,189 511 (41,665 ) Other comprehensive income before reclassifications 15,786 — — — 15,786 Reclassification adjustment for gains realized in income (22 ) — — — (22 ) Net current period other comprehensive income 15,764 — — — 15,764 Balances at end of period, net of tax $ (10,491 ) $ (17,110 ) $ 1,189 $ 511 $ (25,901 ) As of June 30, 2014, management concluded it was more likely than not that the Company’s net deferred tax asset (DTA) would be realized and accordingly determined a full deferred tax valuation allowance was no longer required. Upon reversal of the former full deferred tax valuation allowance as of June 30, 2014, certain disproportionate tax effects are retained in accumulated other comprehensive income (loss) totaling approximately a ($16.6) million loss. Almost the entire disproportionate tax effect is attributable to valuation allowance expense recorded through other comprehensive income (loss) on the tax benefit of losses sustained on the available for sale securities portfolio while the Company was in a full deferred tax valuation allowance. This valuation allowance was appropriately reversed through continuing operations at June 30, 2014, leaving the original expense in accumulated other comprehensive income (loss), where it will remain in accordance with the Company’s election of the “portfolio approach”, until such time as the Company would cease to have an available for sale security portfolio. The following are significant amounts reclassified out of each component of accumulated comprehensive income (loss) for the three months ended June 30, 2015: Amount Reclassified Affected Line Item on From Accumulated the Statement Where Details About Accumulated Other Comprehensive Other Comprehensive Net Income is Income Components Income Presented (Dollars in thousands) Realized net gains on the sale of available for sale securities $ — Net gains on securities available for sale — Tax expense Total reclassification during the period $ — Net of tax The following is significant amounts reclassified out of each component of accumulated comprehensive income (loss) for the three months ended June 30, 2014: Amount Reclassified Affected Line Item on From Accumulated the Statement Where Details About Accumulated Other Comprehensive Other Comprehensive Net Income is Income Components Income Presented (Dollars in thousands) Realized net gains on the sale of available for sale securities $ (31 ) Net gains on securities available for sale 11 Tax expense Total reclassification during the period $ (20 ) Net of tax The following are significant amounts reclassified out of each component of accumulated comprehensive income (loss) for the six months ended June 30, 2015: Amount Reclassified Affected Line Item on From Accumulated the Statement Where Details About Accumulated Other Comprehensive Other Comprehensive Net Income is Income Components Income Presented (Dollars in thousands) Realized net gains on the sale of available for sale securities $ (11 ) Net gains on securities available for sale 4 Tax expense Total reclassification during the period $ (7 ) Net of tax The following is significant amounts reclassified out of each component of accumulated comprehensive income (loss) for the six months ended June 30, 2014: Amount Reclassified Affected Line Item on From Accumulated the Statement Where Details About Accumulated Other Comprehensive Other Comprehensive Net Income is Income Components Income Presented (Dollars in thousands) Realized net gains on the sale of available for sale securities $ (34 ) Net gains on securities available for sale 12 Tax expense Total reclassification during the period $ (22 ) Net of tax |
REGULATORY CAPITAL REQUIREMENTS
REGULATORY CAPITAL REQUIREMENTS | 6 Months Ended |
Jun. 30, 2015 | |
Banking And Thrift [Abstract] | |
REGULATORY CAPITAL REQUIREMENTS | 1 2 . REGULATORY CAPITAL REQUIREMENTS Home Savings and United Community are subject to various regulatory capital requirements administered by the federal banking agencies. During the first quarter of 2015, Home Savings and United Community adopted the new Basel III regulatory capital framework as approved by the federal banking agencies. The adoption of this new framework modified the calculation of the various capital ratios, added a new ratio, common equity tier 1, and revised the adequately and well capitalized thresholds. The Basel III Capital Rules establish a new common equity Tier 1 minimum capital requirement (4.5% of risk-weighted assets), increases the minimum Tier 1 capital to risk-based assets requirement (from 4% to 6% of risk-weighted assets) and assigns a higher risk weight (150%) to exposures that are more than 90 days past due or are on nonaccrual status and to certain commercial real estate facilities that finance the acquisition, development or construction of real property. The final rules also requires unrealized gains and losses on certain available-for-sale securities holdings to be included for purposes of calculating regulatory capital requirements unless a one-time opt-in or opt-out is exercised. In connection with the adoption of the Basel III Capital Rules, United Community and Home Savings elected to opt-out of the requirement to include most components of accumulated other comprehensive income in Common Equity Tier 1 The final rules became effective for Home Savings on January 1, 2015. The capital conservation buffer requirement will be phased in beginning January 1, 2016 and ending January 1, 2019, when the full capital conservation buffer requirement will be effective. The final rule also implemented consolidated capital requirements, that became effective January 1, 2015. Quantitative measures established by regulation for capital adequacy require Home Savings to maintain minimum ratios of Tier 1 (or Core) capital (as defined in the regulations) to average total assets (as defined) and of total risk-based capital (as defined) to risk-weighted assets (as defined). United Community and Home Savings’ Common Equity Tier 1 capital consists of common stock and related paid-in capital, net of treasury stock, and retained earnings. In connection with the adoption of the Basel III Capital Rules, United Community and Home Savings elected to opt-out of the requirement to include most components of accumulated other comprehensive income in Common Equity Tier 1. Common Equity Tier 1 for both United Community and Home Savings is reduced by intangible assets, net of associated deferred tax liabilities and subject to transition provisions. June 30, 2015 To Be Well Capitalized Minimum Capital Under Prompt Requirements For Capital Corrective Action Actual Adequacy Purposes Provisions Amount Ratio Amount Ratio Amount Ratio (Dollars in thousands) Total capital (to risk-weighted assets) $ 237,890 19.69 % $ 96,655 8.00 % $ 120,819 10.00 % Tier 1 capital (to risk-weighted assets) 222,593 18.42 % 72,492 6.00 % 96,655 8.00 % Common equity Tier 1 capital (to risk-weighted assets) 222,593 18.42 % 54,369 4.50 % 78,532 6.50 % Tier 1 capital (to average assets)** 222,593 11.94 % 74,542 4.00 % 93,177 5.00 % December 31, 2014 To Be Well Capitalized Minimum Capital Under Prompt Requirements Corrective Action Actual Per Regulation Provisions Amount Ratio Amount Ratio Amount Ratio (Dollars in thousands) Total risk-based capital to risk-weighted assets $ 233,974 21.13 % $ 88,602 8.00 % $ 110,752 10.00 % Tier 1 capital to risk-weighted assets 220,080 19.87 % * * 66,451 6.00 % Tier 1 capital to average total assets** 220,080 12.11 % 72,674 4.00 % 90,843 5.00 % * Ratio was not required under regulations existing at that time ** Tier 1 Leverage Capital Ratio Management believes that as of June 30, 2015 and December 31, 2014, Home Savings meets all capital adequacy requirements to which they were subject. As of June 30, 2015 and December 31, 2014, Home Savings was considered well capitalized. The components of Home Savings’ regulatory capital are as follows: June 30, 2015 December 31, 2014 Total shareholders' equity $ 223,855 $ 217,372 Add (deduct) Accumulated other comprehensive income 22,061 20,015 Intangible assets (23 ) (84 ) Disallowed deferred tax assets (23,300 ) (17,223 ) Disallowed capitalized mortgage loan servicing rights — — Tier 1 Capital 222,593 220,080 Allowance for loan losses and allowance for unfunded lending commitments limited to 1.25% of total risk-weighted assets 15,297 13,894 Total risk-based capital $ 237,890 $ 233,974 Actual and regulatory required consolidated capital ratios for United Community, along with the dollar amount of capital implied by such ratios, are presented below. June 30, 2015 To Be Well Capitalized Minimum Capital Under Prompt Requirements For Capital Corrective Action Actual Adequacy Purposes Provisions Amount Ratio Amount Ratio Amount Ratio (Dollars in thousands) Total capital (to risk-weighted assets) $ 248,306 20.57 % $ 96,565 8.00 % $ 120,707 10.00 % Tier 1 capital (to risk-weighted assets) 232,991 19.30 % 72,424 6.00 % 96,565 8.00 % Common equity Tier 1 capital (to risk-weighted assets) 232,991 19.30 % 54,318 4.50 % 78,459 6.50 % Tier 1 capital (to average assets)** 232,991 12.50 % 74,541 4.00 % 93,176 5.00 % The components of United Community’s consolidated regulatory capital are as follows: June 30, 2015 Total shareholders' equity $ 236,462 Add (deduct) Accumulated other comprehensive income 22,045 Intangible assets (23 ) Disallowed deferred tax assets (25,493 ) Disallowed capitalized mortgage loan servicing rights — Tier 1 Capital 232,991 Allowance for loan losses and allowance for unfunded lending commitments limited to 1.25% of total risk-weighted assets 15,315 Total risk-based capital $ 248,306 |
INCOME TAXES
INCOME TAXES | 6 Months Ended |
Jun. 30, 2015 | |
Income Tax Disclosure [Abstract] | |
INCOME TAXES | 1 3 . INCOME TAXES Significant components of the deferred tax assets and liabilities are as follows: June 30, December 31, 2015 2014 (Dollars in thousands) Deferred tax assets: Loan loss reserves $ 5,909 $ 6,190 Postretirement benefits 1,042 1,066 Depreciation 735 625 Other real estate owned valuation 418 498 Tax credits carryforward 736 513 Unrealized loss on securities available for sale 3,426 2,324 Interest on nonaccrual loans 933 943 Net operating loss carryforward 20,315 24,027 Purchase accounting adjustment 86 82 Accrued bonuses 405 459 Other 338 279 Deferred tax assets 34,343 37,006 Deferred tax liabilities: Deferred loan fees 369 321 Federal Home Loan Bank stock dividends 4,585 4,585 Mortgage servicing rights 1,960 1,917 FHLB prepayment penalty 1,195 1,332 Postretirement benefits accrual 493 493 Prepaid expenses 248 201 Deferred tax liabilities 8,850 8,849 Net deferred tax asset $ 25,493 $ 28,157 As of June 30, 2015, the net deferred tax asset (DTA) was $25.5 million, and as of December 31, 2014, the net DTA was $28.2 million. The realization of a DTA is assessed and a valuation allowance is recorded if it is “more likely than not” that all or a portion of the DTA will not be realized. “More likely than not” is defined as the DTA being more than 50% likely of being realized. All available evidence, both positive and negative is considered to determine whether, based on the weight of that evidence, a valuation allowance against the net DTA is required. In assessing the need for a valuation allowance, the Company considered all available evidence about the realization of the DTA both positive and negative, that could be objectively verified. Positive evidence considered included (1) the Company’s recent history of quarterly pre-tax earnings (with the most recent quarterly loss being recorded for the quarter ended September 30, 2012), (2) expectations for sustained and continued profitability with sufficient taxable income to fully utilize the remaining net deferred tax benefits (3) significant reductions in the level of non-performing assets since their peak, which was the primary source of the losses generated in prior periods (4) resolution to an executive search placed on a key management position (5) evaluation of core earnings (6) adequacy of capital to fund balance sheet and future growth and (7) cost-saving initiatives triggered during 2014. Negative evidence considered was (1) the uncertainty about the potential impact on future earnings from nonperforming assets along with (2) former pre-tax losses reported by the Company. As the number of consecutive periods of profitability increased and the level of profits are indicative of on-going results, the weight of cumulative losses as negative evidence decreased. A reduction in the weight given to such losses is further validated given that the source of the losses was due to an elevated level of problem assets and related credit costs, which have since been significantly reduced due to the bulk asset sale in 2012 and as evidenced by the improvements in the Company’s asset quality metrics. After weighing both the positive and negative evidence, management determined that a valuation allowance on the net DTA was no longer warranted as of June 30, 2014 and June 30, 2015. For a more detailed discussion of the Company’s tax calculation, see Note 14 to the consolidated financial statements, included in Item 8 of the Company’s Form 10-K. The Company’s ultimate realization of the DTA is dependent upon the generation of future taxable income during the periods in which temporary differences become deductible. Management considers the nature and amount of historical and projected future taxable income, the scheduled reversal of deferred tax assets and liabilities, and available tax planning strategies in making this assessment. The amount of deferred taxes recognized could be impacted by changes to any of these variables. United Community’s net operating loss of $58.0 million at June 30, 2015 will be carried forward to use against future taxable income. The net operating loss carryforwards begin to expire in the year ending December 31, 2030. In addition, United Community is carrying forward $736,000 of alternative minimum tax credits. The alternative minimum tax credits are carried forward indefinitely. |
RECENT ACCOUNTING DEVELOPMENTS
RECENT ACCOUNTING DEVELOPMENTS (Policies) | 6 Months Ended |
Jun. 30, 2015 | |
Accounting Changes And Error Corrections [Abstract] | |
Receivables-Troubled Debt Restructurings by Creditors | In January 2014, 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 (a consensus of the FASB Emerging Issues Task Force). Specifically, the new ASU requires a creditor to reclassify a collateralized consumer mortgage loan to real estate property upon obtaining legal title to the real estate collateral, or the borrower voluntarily conveying all interest in the real estate property to the lender to satisfy the loan through a deed in lieu of foreclosure or similar legal agreement. Additional disclosures are required detailing the amount of foreclosed residential real estate property held by the creditor and the recorded investment in consumer mortgages collateralized by real estate property that are in the process of foreclosure. The new guidance is effective for annual periods, and interim reporting periods within those annual periods, beginning after December 15, 2014. The adoption of this guidance did not have a material impact on the Company’s consolidated financial statements, but did result in additional disclosures. |
Revenue from Contracts with Customers | In May 2014, FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606) |
Repurchase-to-Maturity Transactions, Repurchase Financings and Disclosures | In June 2014, the FASB issued Accounting Standards Update 2014-11, Transfers and Servicing (Topic 860): Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures |
STOCK COMPENSATION (Tables)
STOCK COMPENSATION (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | |
Summary of Activity in Plans | A summary of activity in the plans is as follows: For the six months ended June 30, 2015 Weighted Aggregate average intrinsic value Shares exercise price (in thousands) Outstanding at beginning of year 579,905 $ 2.52 Granted 4,359 5.43 Exercised (13,000 ) 1.98 Forfeited and expired — — Outstanding at end of period 571,264 2.55 $ 1,638 Options exercisable at end of period 553,014 2.49 $ 1,618 |
Information Related to Stock Option Plans | Information related to the stock option plans for the six months ended June 30, 2015 and 2014 follows: June 30, 2015 June 30, 2014 Intrinsic value of options exercised $ 43,641 $ 135,800 Cash received from option exercises 25,700 162,000 Tax benefit realized from option exercises — 10,267 Weighted average fair value of options granted, per share $ 1.72 $ 1.70 |
Weighted-Average Assumptions for Determining Fair Value of Options Granted | The fair value of options granted during the three and six months ended June 30, 2015 and 2014 was determined using the following weighted-average assumptions as of the grant date: Three months ended Six months ended June 30, 2015 June 30, 2014 June 30, 2015 June 30, 2014 Risk-free interest rate 1.35 % 1.79 % 1.42 % 1.76 % Expected term (years) 5 5 5 5 Expected stock volatility 36.17 % 58.62 % 36.42 % 64.98 % Dividend yield 0.72 % — % 0.74 % — % |
Summary of Changes in Company's Nonvested Restricted Shares | A summary of changes in the Company’s nonvested restricted shares for the six months ended June 30, 2015 is as follows: For the six months ended June 30, 2015 Weighted average grant date Shares fair value Nonvested at beginning of year 223,624 $ 3.88 Granted 130,458 5.32 Vested (81,763 ) 4.20 Forfeited (8,091 ) 4.87 Nonvested shares at end of period 264,228 $ 4.46 |
SECURITIES (Tables)
SECURITIES (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Components of Available for Sale Portfolio | Components of the available for sale portfolio are as follows: June 30, 2015 Gross Gross Amortized unrealized unrealized Fair cost gains losses value (Dollars in thousands) Available for Sale U.S. Treasury and government sponsored entities' securities $ 226,539 $ 125 $ (5,569 ) $ 221,095 Mortgage-backed GSE securities: residential 256,221 93 (4,437 ) 251,877 Total $ 482,760 $ 218 $ (10,006 ) $ 472,972 December 31, 2014 Gross Gross Amortized unrealized unrealized Fair cost gains losses value (Dollars in thousands) Available for Sale U.S. Treasury and government sponsored entities' securities $ 232,225 $ 184 $ (4,452 ) $ 227,957 Mortgage-backed GSE securities: residential 274,204 331 (2,702 ) 271,833 Total $ 506,429 $ 515 $ (7,154 ) $ 499,790 |
Components of Held to Maturity Securities Portfolio | Components of held to maturity securities portfolio are as follows: June 30, 2015 Gross Gross Amortized unrecognized unrecognized Fair cost gains losses value (Dollars in thousands) Held to maturity States of the U.S. and political subdivisions $ 4,775 $ — $ (96 ) $ 4,679 Total $ 4,775 $ — $ (96 ) $ 4,679 |
Available For Sale Securities [Member] | |
Debt Securities by Contractual Maturity | Debt securities available for sale by contractual maturity, repricing or expected call date are shown below: June 30, 2015 Amortized cost Fair value (Dollars in thousands) Due in one year or less $ — $ — Due after one year through five years — — Due after five years through ten years 199,219 194,901 Due after ten years 27,320 26,194 Mortgage-backed GSE securities: residential 256,221 251,877 Total $ 482,760 $ 472,972 |
Securities Available for Sale and Held to Maturity in Unrealized Loss Position | Securities available for sale that have been in an unrealized loss position for less than twelve months or twelve months or more are as follows: June 30, 2015 Less than 12 months 12 months or more Total Fair Unrealized loss Fair Unrealized loss Fair Unrealized value Loss value Loss value Loss (Dollars in thousands) Description of securities: U.S. Treasury and government sponsored entities $ 153,352 $ (3,434 ) $ 54,383 $ (2,135 ) $ 207,735 $ (5,569 ) Mortgage-backed GSE securities: residential 121,603 (1,280 ) 103,555 (3,157 ) 225,158 (4,437 ) Total temporarily impaired securities $ 274,955 $ (4,714 ) $ 157,938 $ (5,292 ) $ 432,893 $ (10,006 ) December 31, 2014 Less than 12 months 12 months or more Total Fair Unrealized loss Fair Unrealized loss Fair Unrealized loss value Loss value Loss value Loss (Dollars in thousands) Description of securities: U.S. Treasury and government sponsored entities $ — $ — $ 214,495 $ (4,452 ) $ 214,495 $ (4,452 ) Mortgage-backed GSE securities: residential 4,625 (40 ) 193,434 (2,662 ) 198,059 (2,702 ) Total temporarily impaired securities $ 4,625 $ (40 ) $ 407,929 $ (7,114 ) $ 412,554 $ (7,154 ) |
Held To Maturity Securities [Member] | |
Debt Securities by Contractual Maturity | Debt securities held to maturity by contractual maturity, repricing or expected call date are shown below: June 30, 2015 Amortized cost Fair value (Dollars in thousands) Due in one year or less $ — $ — Due after one year through five years — — Due after five years through ten years 570 561 Due after ten years 4,205 4,118 Mortgage-backed GSE securities: residential $ — $ — Total $ 4,775 $ 4,679 |
Securities Available for Sale and Held to Maturity in Unrealized Loss Position | Securities held to maturity that have been in an unrealized loss position for less than twelve months or twelve months or more are as follows: June 30, 2015 Less than 12 months 12 months or more Total Fair Unrealized loss Fair Unrealized loss Fair Unrealized loss value Loss value Loss value Loss (Dollars in thousands) Description of securities: States of the U.S. and political subdivisions $ 4,679 $ (96 ) $ — $ — $ 4,679 $ (96 ) Total temporarily impaired securities $ 4,679 $ (96 ) $ — $ — $ 4,679 $ (96 ) |
LOANS (Tables)
LOANS (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Receivables [Abstract] | |
Schedule of Portfolio of Loans | Portfolio loans consist of the following: June 30, December 31, 2015 2014 (Dollars in thousands) Commercial loans Multifamily $ 69,485 $ 60,546 Nonresidential 148,025 121,595 Land 10,231 9,484 Construction 16,265 16,064 Secured 68,813 45,088 Unsecured 456 134 Total commercial loans 313,275 252,911 Residential mortgage loans One-to four-family 709,342 694,105 Construction 34,074 37,113 Total residential mortgage loans 743,416 731,218 Consumer loans Home equity 157,909 154,776 Auto 8,169 5,902 Marine 3,054 3,917 Recreational vehicle 12,611 14,054 Other 1,953 2,105 Total consumer loans 183,696 180,754 Total loans 1,240,387 1,164,883 Less: Allowance for loan losses 16,881 17,687 Deferred loan costs, net (962 ) (897 ) Total 15,919 16,790 Loans, net $ 1,224,468 $ 1,148,093 |
Investment in Loans by Portfolio Segment and Based on Impairment | The following tables present the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment and are based on impairment method as of June 30, 2015 and December 31, 2014 and activity for the three and six months ended June 30, 2015 and 2014. Allowance For Loan Losses Commercial Loans Residential Loans Consumer Loans Total (Dollars in thousands) For the three months ended June 30, 2015 Beginning balance $ 5,945 $ 7,666 $ 3,610 $ 17,221 Provision (recovery) 1,015 (278 ) 16 753 Charge-offs (779 ) (328 ) (357 ) (1,464 ) Recoveries 208 22 141 371 Ending balance $ 6,389 $ 7,082 $ 3,410 $ 16,881 For the six months ended June 30, 2015 Beginning balance $ 5,690 $ 8,517 $ 3,480 $ 17,687 Provision (recovery) 1,173 (1,149 ) 545 569 Charge-offs (794 ) (494 ) (888 ) (2,176 ) Recoveries 320 208 273 801 Ending balance $ 6,389 $ 7,082 $ 3,410 $ 16,881 June 30, 2015 Period-end amount allocated to: Loans individually evaluated for impairment $ 673 $ 1,651 $ 761 $ 3,085 Loans collectively evaluated for impairment 5,716 5,431 2,649 13,796 Ending balance $ 6,389 $ 7,082 $ 3,410 $ 16,881 Period-end balances: Loans individually evaluated for impairment $ 13,592 $ 19,239 $ 11,023 $ 43,854 Loans collectively evaluated for impairment 299,683 724,177 172,673 1,196,533 Ending balance $ 313,275 $ 743,416 $ 183,696 $ 1,240,387 Allowance For Loan Losses Commercial Loans Residential Loans Consumer Loans Total (Dollars in thousands) For the three months ended June 30, 2014 Beginning balance $ 7,275 $ 9,337 $ 3,942 $ 20,554 Provision (recovery) (1,565 ) (201 ) 152 (1,614 ) Charge-offs (509 ) (236 ) (447 ) (1,192 ) Recoveries 318 55 143 516 Ending balance $ 5,519 $ 8,955 $ 3,790 $ 18,264 For the six months ended June 30, 2014 Beginning balance $ 6,984 $ 9,830 $ 4,302 $ 21,116 Provision (recovery) (1,075 ) (531 ) 25 (1,581 ) Charge-offs (951 ) (551 ) (854 ) (2,356 ) Recoveries 561 207 317 1,085 Ending balance $ 5,519 $ 8,955 $ 3,790 $ 18,264 December 31, 2014 Period-end amount allocated to: Loans individually evaluated for impairment $ 717 $ 1,751 $ 842 $ 3,310 Loans collectively evaluated for impairment 4,973 6,766 2,638 14,377 Ending balance $ 5,690 $ 8,517 $ 3,480 $ 17,687 Period-end balances: Loans individually evaluated for impairment $ 14,845 $ 19,209 $ 11,843 $ 45,897 Loans collectively evaluated for impairment 238,066 712,009 168,911 1,118,986 Ending balance $ 252,911 $ 731,218 $ 180,754 $ 1,164,883 |
Presentation of Loans Individually Evaluated for Impairment by Class | The following table presents loans individually evaluated for impairment by class of loans as of and for six months ended June 30, 2015: Impaired Loans (Dollars in thousands) Unpaid Principal Balance Recorded Investment Allowance for Loan Losses Allocated Average Recorded Investment Interest Income Recognized Cash Basis Income Recognized With no specific allowance recorded Commercial loans Multifamily $ 109 $ — $ — $ 64 $ 3 $ 3 Nonresidential 4,175 2,431 — 3,567 3 80 Land 3,922 496 — 523 — — Construction 1,126 88 — 276 — — Secured 3,892 3,700 — 3,702 — 1 Unsecured 1,357 — — — — 26 Total commercial loans 14,581 6,715 — 8,132 6 110 Residential mortgage loans One-to four-family 5,925 4,411 — 4,939 27 62 Construction — — — — — — Total residential mortgage loans 5,925 4,411 — 4,939 27 62 Consumer loans Home equity 1,940 1,388 — 1,586 9 24 Auto 30 22 — 47 — 1 Marine 510 284 — 221 2 12 Recreational vehicle 95 66 — 117 1 2 Other — — — 1 — — Total consumer loans 2,575 1,760 — 1,972 12 39 Total $ 23,081 $ 12,886 $ — $ 15,043 $ 45 $ 211 With a specific allowance recorded Commercial loans Multifamily $ 153 $ 85 $ 17 $ 31 $ — $ — Nonresidential 6,321 6,141 611 4,833 72 75 Land — — — — — — Construction 2,815 327 42 967 — — Secured 324 324 3 324 — — Unsecured — — — — — — Total commercial loans 9,613 6,877 673 6,155 72 75 Residential mortgage loans One-to four-family 14,828 14,828 1,651 14,524 280 302 Construction — — — — — — Total residential mortgage loans 14,828 14,828 1,651 14,524 280 302 Consumer loans Home equity 8,554 8,554 646 9,260 211 224 Auto 4 4 — 6 — — Marine — — — — — — Recreational vehicle 705 705 115 723 10 10 Other — — — — — — Total consumer loans 9,263 9,263 761 9,989 221 234 Total 33,704 30,968 3,085 30,668 573 611 Total impaired loans $ 56,785 $ 43,854 $ 3,085 $ 45,711 $ 618 $ 822 The following tables present loans individually evaluated for impairment by class of loans as of and for six months ended June 30, 2014: Impaired Loans (Dollars in thousands) Unpaid Principal Balance Recorded Investment Allowance for Loan Losses Allocated Average Recorded Investment Interest Income Recognized Cash Basis Income Recognized With no specific allowance recorded Commercial loans Multifamily $ 185 $ 86 $ — $ 347 $ — $ — Nonresidential 5,304 3,684 — 4,536 — 20 Land 3,958 532 — 498 — — Construction 1,741 739 — 824 — — Secured 3,945 3,708 — 3,948 — 2 Unsecured 3,783 — — — — 57 Total commercial loans 18,916 8,749 — 10,153 - 79 Residential mortgage loans One-to four-family 7,571 6,020 — 8,558 29 148 Construction — — — — — — Total residential mortgage loans 7,571 6,020 — 8,558 29 148 Consumer loans Home equity 2,509 1,998 — 4,517 3 46 Auto 94 79 — 57 — 5 Marine 156 156 — 159 — 5 Recreational vehicle 544 323 — 255 3 12 Other 6 6 — 2 — — Total consumer loans 3,309 2,562 — 4,990 6 68 Total $ 29,796 $ 17,331 $ — $ 23,701 $ 35 $ 295 With a specific allowance recorded Commercial loans Multifamily $ 73 $ 48 $ 6 $ 326 $ — $ — Nonresidential 1,865 1,385 78 1,015 2 7 Land — — — — — — Construction 3,436 1,811 202 2,140 — — Secured 324 324 3 162 — — Unsecured — — — — — — Total commercial loans 5,698 3,568 289 3,643 2 7 Residential mortgage loans One-to four-family 15,252 15,252 2,246 11,761 292 305 Construction — — — — — — Total residential mortgage loans 15,252 15,252 2,246 11,761 292 305 Consumer loans Home equity 10,348 10,160 949 7,568 246 260 Auto 8 8 — 4 — — Marine — — — — — — Recreational vehicle 761 761 141 743 11 11 Other — — — — — — Total consumer loans 11,117 10,929 1,090 8,315 257 271 Total 32,067 29,749 3,625 23,719 551 583 Total impaired loans $ 61,863 $ 47,080 $ 3,625 $ 47,420 $ 586 $ 878 The following table present loans individually evaluated for impairment by class of loans as of December 31, 2014: Impaired Loans (Dollars in thousands) Unpaid Principal Balance Recorded Investment Allowance for Loan Losses Allocated With no specific allowance recorded Commercial loans Multifamily $ 185 $ 85 $ — Nonresidential 7,201 5,582 — Land 3,958 532 — Construction 1,126 188 — Secured 3,903 3,702 — Unsecured 3,258 — — Total commercial loans 19,631 10,089 — Residential mortgage loans One-to four-family 6,015 4,518 — Construction — — — Total residential mortgage loans 6,015 4,518 — Consumer loans Home equity 1,901 1,262 — Auto 47 37 — Marine 151 151 — Recreational vehicle 124 81 — Other — — — Total consumer loans 2,223 1,531 — Total $ 27,869 $ 16,138 $ — With a specific allowance recorded Commercial loans Multifamily $ 33 $ 8 $ 6 Nonresidential 3,944 3,561 615 Land — — — Construction 2,815 863 93 Secured 324 324 3 Unsecured — — — Total commercial loans 7,116 4,756 717 Residential mortgage loans One-to four-family 14,691 14,691 1,751 Construction — — — Total residential mortgage loans 14,691 14,691 1,751 Consumer loans Home equity 9,577 9,577 722 Auto 7 6 1 Marine — — — Recreational vehicle 729 729 119 Other — — — Total consumer loans 10,313 10,312 842 Total 32,120 29,759 3,310 Total impaired loans $ 59,989 $ 45,897 $ 3,310 The following table present loans individual evaluated for impairment by class of loans as of and for the three months ended June 30, 2015 Impaired Loans (Dollars in thousands) Average Recorded Investment Interest Income Recognized Cash Basis Income Recognized With no specific allowance recorded Commercial loans Multifamily $ 43 $ 1 $ 2 Nonresidential 2,441 2 41 Land 514 — — Construction 138 — — Secured 3,700 — — Unsecured — — 7 Total commercial loans 6,836 3 50 Residential mortgage loans One-to four-family 4,530 17 30 Construction — — — Total residential mortgage loans 4,530 17 30 Consumer loans Home equity 1,534 4 18 Auto 27 — — Marine 289 — 7 Recreational vehicle 68 1 1 Other — — — Total consumer loans 1,918 5 26 Total $ 13,284 $ 25 $ 106 With a specific allowance recorded Commercial loans Multifamily $ 43 $ — $ — Nonresidential 6,254 34 36 Land — — — Construction 595 — — Secured 324 — — Unsecured — — — Total commercial loans 7,216 34 36 Residential mortgage loans One-to four-family 14,712 142 146 Construction — — — Total residential mortgage loans 14,712 142 146 Consumer loans Home equity 8,905 108 114 Auto 5 — — Marine — — — Recreational vehicle 711 4 4 Other — — — Total consumer loans 9,621 112 118 Total 31,549 288 300 Total impaired loans $ 44,833 $ 313 $ 406 The following table present loans individual evaluated for impairment by class of loans as of and for the three months ended June 30, 2014 Impaired Loans (Dollars in thousands) Average Recorded Investment Interest Income Recognized Cash Basis Income Recognized With no specific allowance recorded Commercial loans Multifamily $ 88 $ — $ 1 Nonresidential 3,802 — 10 Land 510 — — Construction 690 — — Secured 3,710 — 1 Unsecured — 9 23 Total commercial loans 8,800 9 35 Residential mortgage loans One-to four-family 5,226 13 84 Construction — — — Total residential mortgage loans 5,226 13 84 Consumer loans Home equity 1,875 2 21 Auto 65 — 2 Marine 157 — 2 Recreational vehicle 195 1 4 Other 4 — — Total consumer loans 2,296 3 29 Total $ 16,322 $ 25 $ 148 With a specific allowance recorded Commercial loans Multifamily $ 567 $ — $ — Nonresidential 1,404 1 3 Land — — — Construction 2,026 — — Secured 324 — — Unsecured — — — Total commercial loans 4,321 1 3 Residential mortgage loans One-to four-family 15,742 145 148 Construction — — — Total residential mortgage loans 15,742 145 148 Consumer loans Home equity 10,399 124 131 Auto 9 — — Marine — — — Recreational vehicle 794 7 7 Other — — — Total consumer loans 11,202 131 138 Total 31,265 277 289 Total impaired loans $ 47,587 $ 302 $ 437 |
Loans in Process of Foreclosure | The table below presents loans that are in the process of foreclosure at June 30, 2015 and December 31, 2014 but legal title, deed in lieu of foreclosure or similar legal agreement to the property has not yet been obtained: June 30, 2015 December 31, 2014 Unpaid Principal Balance Recorded Investment Unpaid Principal Balance Recorded Investment (Dollars in thousands) (Dollars in thousands) Mortgage loans in process of foreclosure $ 2,176 $ 2,105 $ 1,714 $ 1,661 Consumer loans in process of foreclosure 1,035 846 707 489 |
Presentation of Recorded Investment in Nonaccrual Loans and Loans Past Due Over 90 Days and Still on Accrual by Class of Loans | The following table presents the recorded investment in nonaccrual and loans past due over 90 days and still on accrual by class of loans as of June 30, 2015: Nonaccrual Loans and Loans Past Due Over 90 Days and Still Accruing As of June 30, 2015 Nonaccrual Loans past due over 90 days and still accruing (Dollars in thousands) Commercial loans Multifamily $ 85 $ — Nonresidential 5,637 — Land 496 — Construction 415 — Secured 4,016 — Unsecured — — Total commercial loans 10,649 — Residential mortgage loans One-to four-family 6,475 — Construction — — Total residential mortgage loans 6,475 — Consumer Loans Home equity 1,490 — Auto 39 — Marine 242 — Recreational vehicle 114 — Other 2 — Total consumer loans 1,887 — Total nonaccrual loans and loans past due over 90 days and still accruing $ 19,011 $ — The following table presents the recorded investment in nonaccrual and loans past due over 90 days and still on accrual by class of loans as of December 31, 2014: Nonaccrual Loans and Loans Past Due Over 90 Days and Still Accruing As of December 31, 2014 Nonaccrual Loans past due over 90 days and still accruing (Dollars in thousands) Commercial loans Multifamily $ 93 $ — Nonresidential 5,781 — Land 531 — Construction 1,051 — Secured 4,016 — Unsecured — — Total commercial loans 11,472 — Residential mortgage loans One-to four-family 6,816 — Construction — — Total residential mortgage loans 6,816 — Consumer Loans Home equity 1,792 — Auto 66 — Marine 119 — Recreational vehicle 184 — Other 2 — Total consumer loans 2,163 — Total nonaccrual loans and loans past due over 90 days and still accruing $ 20,451 $ — |
Presentation of Age Analysis of Past-Due Loans, Segregated by Class of Loans | The following table presents an age analysis of past-due loans, segregated by class of loans as of June 30, 2015: Past Due Loans (Dollars in thousands) 30-59 Days Past Due 60-89 Days Past Due Greater than 90 Days Past Due Total Past Due Current Loans Total Loans Commercial loans Multifamily $ — $ — $ 85 $ 85 $ 69,400 $ 69,485 Nonresidential 13 — 3,783 3,796 144,229 148,025 Land — — 496 496 9,735 10,231 Construction — — 415 415 15,850 16,265 Secured — — 4,016 4,016 64,797 68,813 Unsecured — — — — 456 456 Total commercial loans 13 — 8,795 8,808 304,467 313,275 Residential mortgage loans One-to four-family 1,414 636 4,207 6,257 703,085 709,342 Construction — — — — 34,074 34,074 Total residential mortgage loans 1,414 636 4,207 6,257 737,159 743,416 Consumer Loans: Home equity 472 136 1,122 1,730 156,179 157,909 Automobile 9 — 11 20 8,149 8,169 Marine 287 — 95 382 2,672 3,054 Recreational vehicle 33 557 16 606 12,005 12,611 Other — 3 — 3 1,950 1,953 Total consumer loans 801 696 1,244 2,741 180,955 183,696 Total loans $ 2,228 $ 1,332 $ 14,246 $ 17,806 $ 1,222,581 $ 1,240,387 The following table presents an age analysis of past-due loans, segregated by class of loans as of December 31, 2014: Past Due Loans (Dollars in thousands) 30-59 Days Past Due 60-89 Days Past Due Greater than 90 Days Past Due Total Past Due Current Loans Total Loans Commercial loans Multifamily $ — $ — $ 93 $ 93 $ 60,453 $ 60,546 Nonresidential — — 3,891 3,891 117,704 121,595 Land — — 531 531 8,953 9,484 Construction — — 1,051 1,051 15,013 16,064 Secured — — 4,016 4,016 41,072 45,088 Unsecured — — — — 134 134 Total commercial loans — — 9,582 9,582 243,329 252,911 Residential mortgage loans One-to four-family 2,279 605 4,856 7,740 686,365 694,105 Construction — — — — 37,113 37,113 Total residential mortgage loans 2,279 605 4,856 7,740 723,478 731,218 Consumer Loans: Home equity 588 183 1,531 2,302 152,474 154,776 Automobile 21 — 30 51 5,851 5,902 Marine — 686 — 686 3,231 3,917 Recreational vehicle 452 109 18 579 13,475 14,054 Other 3 4 1 8 2,097 2,105 Total consumer loans 1,064 982 1,580 3,626 177,128 180,754 Total loans $ 3,343 $ 1,587 $ 16,018 $ 20,948 $ 1,143,935 $ 1,164,883 |
Loans by Class Modified as Troubled Debt Restructurings | As of June 30, 2015 and December 31, 2014, the Company has a recorded investment in troubled debt restructurings of $29.5 million and $28.1 million, respectively. The Company has allocated $2.4 million and $2.6 million of specific allowance for those loans at June 30, 2015 and December 31, 2014, respectively. The Company has committed to lend additional amounts totaling up to$41,000 and $50,000 at June 30, 2015 and December 31, 2014, respectively. The following table presents loans by class modified as troubled debt restructurings that occurred during the three months ended June 30, 2015: Number of Loans Pre-Modification Outstanding Recorded Investment Post-Modification Recorded Investment (In thousands) Commercial loans Multifamily — $ — $ — Nonresidential — — — Land — — — Construction — — — Secured — — — Unsecured — — — Total commercial loans — — — Residential mortgage loans One-to four-family 5 469 476 Construction — — — Total residential mortgage loans 5 469 476 Consumer loans Home equity 4 128 129 Auto — — — Marine — — — Recreational vehicle — — — Other — — — Total consumer loans 4 128 129 Total restructured loans 9 $ 597 $ 605 The troubled debt restructurings described above increased the allowance for loan losses by $24,000 and resulted in no charge-offs during the three months ended June 30, 2015. The following table presents loans by class modified as troubled debt restructurings that occurred during the six months ended June 30, 2015: Number of Loans Pre-Modification Outstanding Recorded Investment Post-Modification Recorded Investment (In thousands) Commercial loans Multifamily — $ — $ — Nonresidential — — — Land — — — Construction — — — Secured — — — Unsecured — — — Total commercial loans — — — Residential mortgage loans One-to four-family 10 910 930 Construction — — — Total residential mortgage loans 10 910 930 Consumer loans Home equity 6 482 483 Auto — — — Marine — — — Recreational vehicle — — — Other — — — Total consumer loans 6 482 483 Total restructured loans 16 $ 1,392 $ 1,413 The troubled debt restructurings described above increased the allowance for loan losses by $82,000 and resulted in no charge-offs during the six months ended June 30, 2015. The following table presents loans by class modified as troubled debt restructurings that occurred during the three months ended June 30, 2014: Number of Loans Pre-Modification Outstanding Recorded Investment Post-Modification Recorded Investment (Dollars in thousands) Commercial loans Multifamily — $ — $ — Nonresidential — — — Land — — — Construction — — — Secured — — — Unsecured — — — Total commercial loans — — — Residential mortgage loans One-to four-family 11 922 969 Construction — — — Total residential mortgage loans 11 922 969 Consumer loans Home equity 9 465 450 Auto — — — Marine — — — Recreational vehicle — — — Other — — — Total consumer loans 9 465 450 Total restructured loans 20 $ 1,387 $ 1,419 The troubled debt restructurings described above increased the allowance for loan losses by $59,000, and resulted in chargeoffs of $3,000 during the three months ended June 30, 2014. The following table presents loans by class modified as troubled debt restructurings that occurred during the six months ended June 30, 2014: Number of Loans Pre-Modification Outstanding Recorded Investment Post-Modification Recorded Investment (Dollars in thousands) Commercial loans Multifamily — $ — $ — Nonresidential 1 120 120 Land — — — Construction — — — Secured — — — Unsecured — — — Total commercial loans 1 120 120 Residential mortgage loans One-to four-family 20 1,491 1,545 Construction — — — Total residential mortgage loans 20 1,491 1,545 Consumer loans Home equity 19 1,017 1,009 Auto — — — Marine — — — Recreational vehicle — — — Other — — — Total consumer loans 19 1,017 1,009 Total restructured loans 40 $ 2,628 $ 2,674 |
Loans by Class Modified as Troubled Debt Restructurings with Payment Default | The following table presents loans by class modified as troubled debt restructurings for which there was a payment default within a twelve month cycle following the modification during the six months ended June 30, 2015: Number of loans Recorded Investment (Dollars in thousands) Commercial loans Multifamily — $ — Nonresidential — — Land — — Construction — — Secured — — Unsecured — — Total commercial loans — — Residential mortgage loans One-to four-family 1 76 Construction — — Total residential mortgage loans 1 76 Consumer loans Home equity 2 56 Auto — — Marine — — Recreational vehicle — — Other — — Total consumer loans 2 56 Total restructured loans 3 $ 132 The following table presents loans by class modified as troubled debt restructurings for which there was a payment default within a twelve month cycle following the modification during the six months ended June 30, 2014: Number of loans Recorded Investment (Dollars in thousands) Commercial loans Multifamily — $ — Nonresidential — — Land — — Construction — — Secured — — Unsecured — — Total commercial loans — — Residential mortgage loans One-to four-family 2 74 Construction — — Total residential mortgage loans 2 74 Consumer loans Home equity 4 172 Auto — — Marine — — Recreational vehicle — — Other — — Total consumer loans 4 172 Total restructured loans 6 $ 246 |
Risk Category of Loans by Class of Loans | As of June 30, 2015 and December 31, 2014, and based on the most recent analysis performed, the risk category of loans by class of loans is as follows: Loans June 30, 2015 (Dollars in thousands) Unclassified Classified Unclassified Special Mention Substandard Doubtful Loss Total Classified Total Loans Commercial Loans Multifamily $ 64,906 $ 2,055 $ 2,524 $ — $ — $ 2,524 $ 69,485 Nonresidential 123,491 11,592 12,942 — — 12,942 148,025 Land 9,735 — 496 — — 496 10,231 Construction 15,850 — 415 — — 415 16,265 Secured 63,319 — 5,494 — — 5,494 68,813 Unsecured 349 — 107 — — 107 456 Total commercial loans 277,650 13,647 21,978 — — 21,978 313,275 Residential mortgage loans One-to four-family 701,570 125 7,647 — — 7,647 709,342 Construction 34,074 — — — — — 34,074 Total residential mortgage loans 735,644 125 7,647 — — 7,647 743,416 Consumer Loans Home equity 156,152 — 1,757 — — 1,757 157,909 Auto 8,121 3 45 — — 45 8,169 Marine 2,770 — 284 — — 284 3,054 Recreational vehicle 12,481 — 130 — — 130 12,611 Other 1,948 — 5 — — 5 1,953 Total consumer loans 181,472 3 2,221 — — 2,221 183,696 Total loans $ 1,194,766 $ 13,775 $ 31,846 $ — $ — $ 31,846 $ 1,240,387 Loans December 31, 2014 (Dollars in thousands) Unclassified Classified Unclassified Special Mention Substandard Doubtful Loss Total Classified Total Loans Commercial Loans Multifamily $ 53,485 $ 4,134 $ 2,927 $ — $ — $ 2,927 $ 60,546 Nonresidential 92,074 12,290 17,231 — — 17,231 121,595 Land 8,952 — 532 — — 532 9,484 Construction 15,013 — 1,051 — — 1,051 16,064 Secured 39,480 900 4,708 — — 4,708 45,088 Unsecured 22 — 112 — — 112 134 Total commercial loans 209,026 17,324 26,561 — — 26,561 252,911 Residential mortgage loans One-to four-family 684,779 939 8,387 — — 8,387 694,105 Construction 37,113 — — — — — 37,113 Total residential mortgage loans 721,892 939 8,387 — — 8,387 731,218 Consumer Loans Home equity 152,599 — 2,177 — — 2,177 154,776 Auto 5,829 10 63 — — 63 5,902 Marine 3,766 — 151 — — 151 3,917 Recreational vehicle 13,846 — 208 — — 208 14,054 Other 2,099 — 6 — — 6 2,105 Total consumer loans 178,139 10 2,605 — — 2,605 180,754 Total loans $ 1,109,057 $ 18,273 $ 37,553 $ — $ — $ 37,553 $ 1,164,883 |
MORTGAGE BANKING ACTIVITIES (Ta
MORTGAGE BANKING ACTIVITIES (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Mortgage Banking [Abstract] | |
Principal Balance of Mortgage Servicing Rights | Mortgage loans serviced for others are not reported as assets. The principal balances of these loans are as follows: June 30, 2015 December 31, 2014 (Dollars in thousands) Mortgage loan portfolios serviced for: FHLMC $ 849,109 $ 821,609 FNMA 248,012 259,463 |
Capitalized Mortgage Servicing Rights | Activity for capitalized mortgage servicing rights, included in other assets, was as follows: For the Three Months Ended June 30, For the Six Months Ended June 30, 2015 2014 2015 2014 (Dollars in thousands) Balance, beginning of period $ 5,543 $ 5,803 $ 5,535 $ 5,941 Originations 530 287 981 541 Amortized to expense (462 ) (432 ) (905 ) (824 ) Balance, end of period 5,611 5,658 5,611 5,658 Less valuation allowance (12 ) (6 ) (12 ) (6 ) Net balance $ 5,599 $ 5,652 $ 5,599 $ 5,652 |
Valuation Allowance for Mortgage Servicing Rights | Activity in the valuation allowance for mortgage servicing rights was as follows: For the Three Months Ended June 30, For the Six Months Ended June 30, 2015 2014 2015 2014 (Dollars in thousands) Balance, beginning of period $ (219 ) $ (1 ) $ (58 ) $ — Impairment charges — (5 ) (161 ) (6 ) Recoveries 207 — 207 — Balance, end of period $ (12 ) $ (6 ) $ (12 ) $ (6 ) |
Key Economic Assumptions in Measuring Value of Mortgage Servicing Rights | Key economic assumptions in measuring the value of mortgage servicing rights at June 30, 2015, and December 31, 2014, were as follows: June 30, 2015 December 31, 2014 Weighted average prepayment rate 195 PSA 219 PSA Weighted average life (in years) 3.54 3.61 Weighted average discount rate 8.00% 8.00% |
OTHER REAL ESTATE OWNED AND O27
OTHER REAL ESTATE OWNED AND OTHER REPOSSESSED ASSETS (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Real Estate [Abstract] | |
Real Estate Owned and Other Repossessed Assets | Real estate owned and other repossessed assets at June 30, 2015 and December 31, 2014 were as follows: June 30, 2015 December 31, 2014 (Dollars in thousands) Real estate owned and other repossessed assets $ 4,556 $ 4,890 Valuation allowance (1,195 ) (1,423 ) End of period $ 3,361 $ 3,467 |
Valuation Allowance Related to Real Estate Owned | Activity in the valuation allowance was as follows: Three Months Ended Six Months Ended June 30, 2015 June 30, 2014 June 30, 2015 June 30, 2014 (Dollars in thousands) Beginning of period $ 1,244 $ 3,588 $ 1,423 $ 4,059 Additions charged to expense 42 146 123 438 Reductions due to sales (91 ) (171 ) (351 ) (934 ) End of period $ 1,195 $ 3,563 $ 1,195 $ 3,563 |
Expenses Related to Foreclosed and Repossessed Assets | Expenses related to foreclosed and repossessed assets include: Three Months Ended June 30, 2015 June 30, 2014 (Dollars in thousands) Net (gain) loss on sales $ 60 $ (104 ) Provision for unrealized losses, net 42 146 Operating expenses, net of rental income 18 137 Total expenses $ 120 $ 179 Six Months Ended June 30, 2015 June 30, 2014 (Dollars in thousands) Net (gain) loss on sales $ 69 $ (13 ) Provision for unrealized losses, net 123 438 Operating expenses, net of rental income 159 350 Total expenses $ 351 $ 775 |
FAIR VALUE MEASUREMENT (Tables)
FAIR VALUE MEASUREMENT (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Assets and Liabilities Measured at Fair Value on Recurring Basis | Assets and Liabilities Measured on a Recurring Basis: Assets and liabilities measured at fair value on a recurring basis are summarized below: Fair Value Measurements at June 30, 2015 Using: Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable June 30, Assets Inputs Inputs 2015 (Level 1) (Level 2) (Level 3) (Dollars in thousands) Assets: Available for sale securities U.S. Treasury and government sponsored entities’ securities $ 221,095 $ — $ 221,095 $ — Mortgage-backed GSE securities: residential 251,877 — 251,877 — Loans held for sale, at fair value 9,839 — — 9,839 Interest rate caps 24 — — 24 Purchased certificate of deposit option 847 — 847 — Liabilities Written certificate of deposit option 847 — 847 — Fair Value Measurements at December 31, 2014 Using: Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable December 31, Assets Inputs Inputs 2014 (Level 1) (Level 2) (Level 3) (Dollars in thousands) Assets: Available for sale securities U.S. Treasury and government sponsored entities’ securities $ 227,957 $ — $ 227,957 $ — Mortgage-backed GSE securities: residential 271,833 — 271,833 — Interest rate caps 180 — — 180 Purchased certificate of deposit option 930 — 930 — Liabilities Written certificate of deposit option 930 — 930 — |
Reconciliation of All Assets Measured at Fair Value on Recurring Basis Using Significant Unobservable Inputs (Level 3) | The table below presents a reconciliation of all assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the three and six months ended June 30, 2015. There were no loans held for sale, carried at fair value during 2014. Loans Held for Sale, At Fair Value For the Three Months Ended June 30, For the Six Months Ended June 30, 2015 2015 (Dollars in thousands) Balance of recurring Level 3 assets at beginning of period $ 1,608 $ — Total gains (losses) for the period Included in change in fair value of loans held for sale (146 ) 415 Included in other comprehensive income — — Originations 8,377 9,424 Amortization — — Sales — — Balance of recurring Level 3 assets at end of period $ 9,839 $ 9,839 Interest Rate Caps Interest Rate Caps For the Three Months Ended June 30, For the Six Months Ended June 30, 2015 2014 2015 2014 (Dollars in thousands) Balance of recurring Level 3 assets at beginning of period $ 126 $ 419 $ 180 $ 546 Total gains (losses) for the period Included in other income 28 (75 ) 103 (73 ) Included in other comprehensive income — — — — Purchases — — — — Amortization (130 ) (130 ) (259 ) (259 ) Sales — — — — Balance of recurring Level 3 assets at end of period $ 24 $ 214 $ 24 $ 214 |
Quantitative Information About Level 3 Fair Value Measurements for Financial Instruments Measured at Fair Value | The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a nonrecurring basis at June 30, 2015: Fair Value Valuation Technique(s) Unobservable Input(s) Range (Weighted Average) Impaired loans: Commercial loans $ 3,305 Sales Adjustment for differences between comparable sales 0.00%-20.00% (10.00%) Residential loans 601 Sales comparison approach Adjustment for differences between comparable sales 0.00%-10.77% (10.00%) Consumer loans 306 Sales comparison approach Adjustment for differences between comparable sales 0.00%-17.85% (17.85%) Other real estate owned: Residential loans 588 Sales comparison approach Adjustment for differences between comparable sales 0.00%-40.50% (14.55%) Construction loans 804 Sales comparison approach Adjustment for differences between comparable sales 0.00%-25.00% (12.13%) Nonresidential loans 175 Income approach Adjustment for differences in net operating income capitalization rate 0.00-12.50% (12.50%) The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a nonrecurring basis at December 31, 2014: Fair Value Valuation Technique(s) Unobservable Input(s) Range (Weighted Average) Impaired loans: Commercial loans $ 3,803 Sales comparison approach Adjustment for differences between comparable sales 0.00%-20.00% (10.00%) Residential loans 765 Sales comparison approach Adjustment for differences between comparable sales 0.00%-11.80% (3.70%) Consumer loans 260 Sales comparison approach Adjustment for differences between comparable sales 0.00%-10.00% (5.00%) Other real estate owned: Residential loans 640 Sales comparison approach Adjustment for differences between comparable sales 0.00%-51.10% (26.83%) Construction loans 1,286 Sales comparison approach Adjustment for differences between comparable sales 0.00%-58.10% (22.20%) |
Assets and Liabilities Measured on Non-recurring Basis | Assets and Liabilities Measured on a Non-Recurring Basis: Assets and liabilities measured at fair value on a non-recurring basis are summarized below: Fair Value Measurements at June 30, 2015 Using: Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable June 30, Assets Inputs Inputs 2015 (Level 1) (Level 2) (Level 3) (Dollars in thousands) Assets: Impaired loans: Commercial loans $ 3,305 $ — $ — $ 3,305 Residential loans 601 — — 601 Consumer loans 306 — — 306 Mortgage servicing rights 215 — 215 — Other real estate owned, net Residential loans 588 — — 588 Construction loans 804 — — 804 Nonresidential loans 175 — — 175 Fair Value Measurements at December 31, 2014 Using: Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable December 31, Assets Inputs Inputs 2014 (Level 1) (Level 2) (Level 3) (Dollars in thousands) Assets: Impaired loans: Commercial loans $ 3,803 $ — $ — $ 3,803 Residential loans 765 — — 765 Consumer loans 260 — — 260 Mortgage servicing rights 1,138 — 1,138 — Other real estate owned, net Residential loans 640 — — 640 Construction loans 1,286 — — 1,286 |
Fair Value Option for Newly Originated Permanent Construction Loans Held for Sale | The Company has elected the fair value option for newly originated permanent construction loans held for sale. These loans are intended for sale and the Company believes that fair value is the best indicator of the resolution of these loans. Interest income is recorded based on the contractual terms of the loan and in accordance with the Company’s policy on loans held for investment. None of these loans are 90 or more days past due nor on nonaccrual status as of June 30, 2015. June 30, 2015 (Dollars in thousands) Aggregate fair value $ 9,839 Contractual balance 9,424 Gain (loss) 415 |
Amount of Gains and Losses from Changes in Fair Value Included in Earnings | The total amount of gains and losses from changes in fair value included in earnings for the three and six months ended June 30, 2015 for loans held for sale, at fair value were: For the Three Months Ended For the Six Months Ended June 30, 2015 June 30, 2015 (Dollars in thousands) Interest income $ — $ — Interest expense — — Change in fair value (146 ) 415 Total change in fair value $ (146 ) $ 415 |
Carrying Value and Estimated Fair Values of Financial Instruments | In accordance with U.S. GAAP, the carrying value and estimated fair values of financial instruments at June 30, 2015 and December 31, 2014, were as follows: Fair Value Measurements at June 30, 2015 Using: June 30, 2015 Carrying Value (Level 1) (Level 2) (Level 3) (Dollars in thousands) Assets: Cash and cash equivalents $ 48,983 $ 48,983 $ — $ — Available for sale securities 472,972 — 472,972 — Held to maturity securities 4,775 — 4,679 — Loans held for sale 25,263 — 26,317 — Loans held for sale, at fair value 9,839 — — 9,839 Loans, net 1,224,468 — — 1,236,370 FHLB stock 18,068 n/a n/a n/a Accrued interest receivable 5,768 — 2,284 3,484 Interest rate caps 24 — — 24 Purchased certificate of deposit option 847 — 847 — Liabilities: Deposits: Checking, savings and money market accounts (982,536 ) (982,636 ) — — Certificates of deposit (456,711 ) — (462,628 ) — FHLB advances (192,085 ) — (192,188 ) — Repurchase agreements and other (30,546 ) — (32,312 ) — Advance payments by borrowers for taxes and insurance (15,085 ) (15,085 ) — — Accrued interest payable (227 ) — (227 ) — Written certificate of deposit option (847 ) — (847 ) — Fair Value Measurements at December 31, 2014 Using: December 31, 2014 Carrying Value (Level 1) (Level 2) (Level 3) (Dollars in thousands) Assets: Cash and cash equivalents $ 32,980 $ 32,980 $ — $ — Available for sale securities 499,790 — 499,790 — Loans held for sale 20,730 — 21,528 — Loans, net 1,148,093 — — 1,167,372 FHLB stock 18,068 n/a n/a n/a Accrued interest receivable 5,763 — 2,374 3,389 Interest rate caps 180 — — 180 Purchased certificate of deposit option 930 — 930 — Liabilities: Deposits: Checking, savings and money market accounts (912,536 ) (912,536 ) — — Certificates of deposit (435,300 ) — (442,268 ) — FHLB advances (186,194 ) — (186,290 ) — Repurchase agreements and other (30,558 ) — (32,817 ) — Advance payments by borrowers for taxes and insurance (19,904 ) (19,904 ) — — Accrued interest payable (185 ) — (185 ) — Written certificate of deposit option (930 ) — (930 ) — |
Interest Rate Caps [Member] | |
Quantitative Information About Level 3 Fair Value Measurements for Financial Instruments Measured at Fair Value | The following table presents quantitative information about recurring Level 3 fair value measurements at June 30, 2015: Valuation Unobservable Fair Value Technique(s) Input(s) Range Loans held for sale, at fair value $ 9,839 Comparable sales Time discount 0.00-1.80% Interest rate caps 24 Discounted cash flow Discount rate 0.49-1.18% The following table presents quantitative information about recurring Level 3 fair value measurements at December 31, 2014: Valuation Unobservable Fair Value Technique(s) Input(s) Range Interest rate caps $ 180 Discounted cash flow Discount rate 0.49-1.18% |
STATEMENT OF CASH FLOWS SUPPL29
STATEMENT OF CASH FLOWS SUPPLEMENTAL DISCLOSURE (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Supplemental Cash Flow Elements [Abstract] | |
Supplemental Disclosures of Cash Flow Information | Supplemental disclosures of cash flow information are summarized below. For the Six Months Ended June 30, 2015 2014 (Dollars in thousands) Supplemental disclosures of cash flow information Cash paid (received) during the period for: Interest on deposits and borrowings $ 4,372 $ 6,150 Income taxes 100 — Supplemental schedule of noncash activities: Transfers from loans to real estate owned and other repossessed assets 1,606 853 |
EARNINGS PER SHARE (Tables)
EARNINGS PER SHARE (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Earnings Per Share [Abstract] | |
Computation of Earnings Per Share | For the Three Months Ended June 30, For the Six Months Ended June 30, 2015 2014 2015 2014 (Dollars in thousands, except per share data) Net income per consolidated statements of income $ 4,125 $ 42,404 $ 7,811 $ 44,498 Net income allocated to participating securities (25 ) (235 ) (39 ) (232 ) Net income allocated to common stock $ 4,100 $ 42,169 $ 7,772 $ 44,266 Basic earnings per common share computation: Distributed earnings allocated to common stock $ 490 $ — $ 979 $ — Undistributed earnings allocated to common stock 3,610 42,169 6,793 44,266 Net income allocated to common stock $ 4,100 $ 42,169 $ 7,772 $ 44,266 Weighted average common shares outstanding, including shares considered participating securities 48,649 50,554 48,968 50,481 Less: Average participating securities (290 ) (280 ) (244 ) (263 ) Weighted average shares 48,359 50,274 48,724 50,218 Basic earnings per common share $ 0.08 $ 0.84 $ 0.16 $ 0.88 Diluted earnings per common share computation: Net income allocated to common stock $ 4,100 $ 42,169 $ 7,772 $ 44,266 Weighted average common shares outstanding for basic earnings per common share 48,359 50,274 48,724 50,218 Add: Dilutive effects of assumed exercises of stock options 275 222 273 221 Weighted average shares and dilutive potential common shares 48,634 50,496 48,997 50,439 Diluted earnings per common share $ 0.08 $ 0.84 $ 0.16 $ 0.88 |
OTHER COMPREHENSIVE INCOME (L31
OTHER COMPREHENSIVE INCOME (LOSS) (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Equity [Abstract] | |
Other Comprehensive Income (Loss) Components and Related Tax Effects | Other comprehensive income (loss) components and related tax effects for the three month periods are as follows: Unrealized Gains (Losses) on Securities Available for Sale Disproportionate Tax Effect from Securities Available for Sale Unrealized Gains (Losses) from Postretirement Plan Disproportionate Tax Effect from Postretirement Plan Total June 30, 2015 (Dollars in thousands) Balances at beginning of period $ (425 ) $ (17,110 ) $ 916 $ 511 $ (16,108 ) Income tax — — — — — Balances at beginning of period, net of tax (425 ) (17,110 ) 916 511 (16,108 ) Other comprehensive income before reclassifications (5,937 ) — — — (5,937 ) Reclassification adjustment for gains realized in income — — — — — Net current period other comprehensive income (5,937 ) — — — (5,937 ) Balances at end of period, net of tax $ (6,362 ) $ (17,110 ) $ 916 $ 511 $ (22,045 ) Unrealized Gains (Losses) on Securities Available for Sale Disproportionate Tax Effect from Securities Available for Sale Unrealized Gains (Losses) from Postretirement Plan Disproportionate Tax Effect from Postretirement Plan Total June 30, 2014 (Dollars in thousands) Balances at beginning of period $ (27,825 ) $ (2,972 ) $ 1,829 $ (129 ) $ (29,097 ) Income tax 14,138 (14,138 ) (640 ) 640 — Balances at beginning of period, net of tax (13,687 ) (17,110 ) 1,189 511 (29,097 ) Other comprehensive income before reclassifications 3,216 — — — 3,216 Reclassification adjustment for gains realized in income (20 ) — — — (20 ) Net current period other comprehensive income 3,196 — — — 3,196 Balances at end of period, net of tax $ (10,491 ) $ (17,110 ) $ 1,189 $ 511 $ (25,901 ) Other comprehensive income (loss) components and related tax effects for the six month periods are as follows: Unrealized Gains (Losses) on Securities Available for Sale Disproportionate Tax Effect from Securities Available for Sale Unrealized Gains (Losses) From Postretirement Plan Disproportionate Tax Effect from Postretirement Plan Total June 30, 2015 (Dollars in thousands) Balances at beginning of period $ (4,315 ) $ (17,110 ) $ 916 $ 511 $ (19,998 ) Income tax — — — — — Balances at beginning of period, net of tax (4,315 ) (17,110 ) 916 511 (19,998 ) Other comprehensive income before reclassifications (2,040 ) — — — (2,040 ) Reclassification adjustment for gains realized in income (7 ) — — — (7 ) Net current period other comprehensive income (2,047 ) — — — (2,047 ) Balances at end of period, net of tax $ (6,362 ) $ (17,110 ) $ 916 $ 511 $ (22,045 ) Unrealized Gains (Losses) on Securities Available for Sale Disproportionate Tax Effect from Securities Available for Sale Unrealized Gains (Losses) From Postretirement Plan Disproportionate Tax Effect from Postretirement Plan Total June 30, 2014 (Dollars in thousands) Balances at beginning of period $ (40,393 ) $ (2,972 ) $ 1,829 $ (129 ) $ (41,665 ) Income tax 14,138 (14,138 ) (640 ) 640 — Balances at beginning of period, net of tax (26,255 ) (17,110 ) 1,189 511 (41,665 ) Other comprehensive income before reclassifications 15,786 — — — 15,786 Reclassification adjustment for gains realized in income (22 ) — — — (22 ) Net current period other comprehensive income 15,764 — — — 15,764 Balances at end of period, net of tax $ (10,491 ) $ (17,110 ) $ 1,189 $ 511 $ (25,901 ) |
Summary of Reclassification Out of Each Component of Accumulated Comprehensive Income (Loss) | The following are significant amounts reclassified out of each component of accumulated comprehensive income (loss) for the three months ended June 30, 2015: Amount Reclassified Affected Line Item on From Accumulated the Statement Where Details About Accumulated Other Comprehensive Other Comprehensive Net Income is Income Components Income Presented (Dollars in thousands) Realized net gains on the sale of available for sale securities $ — Net gains on securities available for sale — Tax expense Total reclassification during the period $ — Net of tax The following is significant amounts reclassified out of each component of accumulated comprehensive income (loss) for the three months ended June 30, 2014: Amount Reclassified Affected Line Item on From Accumulated the Statement Where Details About Accumulated Other Comprehensive Other Comprehensive Net Income is Income Components Income Presented (Dollars in thousands) Realized net gains on the sale of available for sale securities $ (31 ) Net gains on securities available for sale 11 Tax expense Total reclassification during the period $ (20 ) Net of tax The following are significant amounts reclassified out of each component of accumulated comprehensive income (loss) for the six months ended June 30, 2015: Amount Reclassified Affected Line Item on From Accumulated the Statement Where Details About Accumulated Other Comprehensive Other Comprehensive Net Income is Income Components Income Presented (Dollars in thousands) Realized net gains on the sale of available for sale securities $ (11 ) Net gains on securities available for sale 4 Tax expense Total reclassification during the period $ (7 ) Net of tax The following is significant amounts reclassified out of each component of accumulated comprehensive income (loss) for the six months ended June 30, 2014: Amount Reclassified Affected Line Item on From Accumulated the Statement Where Details About Accumulated Other Comprehensive Other Comprehensive Net Income is Income Components Income Presented (Dollars in thousands) Realized net gains on the sale of available for sale securities $ (34 ) Net gains on securities available for sale 12 Tax expense Total reclassification during the period $ (22 ) Net of tax |
REGULATORY CAPITAL REQUIREMEN32
REGULATORY CAPITAL REQUIREMENTS (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Banking And Thrift [Abstract] | |
Actual and Statutory Required Capital Amounts and Ratios | June 30, 2015 To Be Well Capitalized Minimum Capital Under Prompt Requirements For Capital Corrective Action Actual Adequacy Purposes Provisions Amount Ratio Amount Ratio Amount Ratio (Dollars in thousands) Total capital (to risk-weighted assets) $ 237,890 19.69 % $ 96,655 8.00 % $ 120,819 10.00 % Tier 1 capital (to risk-weighted assets) 222,593 18.42 % 72,492 6.00 % 96,655 8.00 % Common equity Tier 1 capital (to risk-weighted assets) 222,593 18.42 % 54,369 4.50 % 78,532 6.50 % Tier 1 capital (to average assets)** 222,593 11.94 % 74,542 4.00 % 93,177 5.00 % December 31, 2014 To Be Well Capitalized Minimum Capital Under Prompt Requirements Corrective Action Actual Per Regulation Provisions Amount Ratio Amount Ratio Amount Ratio (Dollars in thousands) Total risk-based capital to risk-weighted assets $ 233,974 21.13 % $ 88,602 8.00 % $ 110,752 10.00 % Tier 1 capital to risk-weighted assets 220,080 19.87 % * * 66,451 6.00 % Tier 1 capital to average total assets** 220,080 12.11 % 72,674 4.00 % 90,843 5.00 % * Ratio was not required under regulations existing at that time ** Tier 1 Leverage Capital Ratio Actual and regulatory required consolidated capital ratios for United Community, along with the dollar amount of capital implied by such ratios, are presented below. June 30, 2015 To Be Well Capitalized Minimum Capital Under Prompt Requirements For Capital Corrective Action Actual Adequacy Purposes Provisions Amount Ratio Amount Ratio Amount Ratio (Dollars in thousands) Total capital (to risk-weighted assets) $ 248,306 20.57 % $ 96,565 8.00 % $ 120,707 10.00 % Tier 1 capital (to risk-weighted assets) 232,991 19.30 % 72,424 6.00 % 96,565 8.00 % Common equity Tier 1 capital (to risk-weighted assets) 232,991 19.30 % 54,318 4.50 % 78,459 6.50 % Tier 1 capital (to average assets)** 232,991 12.50 % 74,541 4.00 % 93,176 5.00 % |
Components of Home Savings Regulatory Capital | The components of Home Savings’ regulatory capital are as follows: June 30, 2015 December 31, 2014 Total shareholders' equity $ 223,855 $ 217,372 Add (deduct) Accumulated other comprehensive income 22,061 20,015 Intangible assets (23 ) (84 ) Disallowed deferred tax assets (23,300 ) (17,223 ) Disallowed capitalized mortgage loan servicing rights — — Tier 1 Capital 222,593 220,080 Allowance for loan losses and allowance for unfunded lending commitments limited to 1.25% of total risk-weighted assets 15,297 13,894 Total risk-based capital $ 237,890 $ 233,974 The components of United Community’s consolidated regulatory capital are as follows: June 30, 2015 Total shareholders' equity $ 236,462 Add (deduct) Accumulated other comprehensive income 22,045 Intangible assets (23 ) Disallowed deferred tax assets (25,493 ) Disallowed capitalized mortgage loan servicing rights — Tier 1 Capital 232,991 Allowance for loan losses and allowance for unfunded lending commitments limited to 1.25% of total risk-weighted assets 15,315 Total risk-based capital $ 248,306 |
INCOME TAXES (Tables)
INCOME TAXES (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Income Tax Disclosure [Abstract] | |
Significant Components of Deferred Tax Assets and Liabilities | Significant components of the deferred tax assets and liabilities are as follows: June 30, December 31, 2015 2014 (Dollars in thousands) Deferred tax assets: Loan loss reserves $ 5,909 $ 6,190 Postretirement benefits 1,042 1,066 Depreciation 735 625 Other real estate owned valuation 418 498 Tax credits carryforward 736 513 Unrealized loss on securities available for sale 3,426 2,324 Interest on nonaccrual loans 933 943 Net operating loss carryforward 20,315 24,027 Purchase accounting adjustment 86 82 Accrued bonuses 405 459 Other 338 279 Deferred tax assets 34,343 37,006 Deferred tax liabilities: Deferred loan fees 369 321 Federal Home Loan Bank stock dividends 4,585 4,585 Mortgage servicing rights 1,960 1,917 FHLB prepayment penalty 1,195 1,332 Postretirement benefits accrual 493 493 Prepaid expenses 248 201 Deferred tax liabilities 8,850 8,849 Net deferred tax asset $ 25,493 $ 28,157 |
Basis of Presentation - Additio
Basis of Presentation - Additional Information (Detail) - Jun. 30, 2015 | BranchOffice |
Organization Consolidation And Presentation Of Financial Statements [Abstract] | |
Number of full-service branches | 32 |
Number of loan production offices | Office | 9 |
Stock Compensation - Additional
Stock Compensation - Additional Information (Detail) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||
Options granted in 2009 exercisable period | 3 years | ||||
Shares, Granted | 4,359 | ||||
Weighted average period to cost recognized | 2 years | ||||
Weighted average remaining life for outstanding stock | 4 years 6 months 15 days | ||||
Exercise price range, lower range limit | $ 1.20 | ||||
Exercise price range, upper range limit | $ 5.89 | ||||
Stock Option [Member] | |||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||
Stock-based compensation expense | $ 6,200 | $ 6,000 | $ 13,000 | $ 13,000 | |
Expected additional expense for 2015 | 10,000 | 10,000 | |||
Expected additional expense for 2016 | 7,000 | 7,000 | |||
Restricted Stock [Member] | |||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||
Stock-based compensation expense | 176,000 | 58,000 | 366,000 | $ 236,000 | |
Expected additional expense for 2016 | $ 503,000 | $ 503,000 | |||
Non Vested shares issued during 2015 | 264,228 | 264,228 | 223,624 | ||
Vested shares during 2015 | 32,230 | ||||
Vested shares during 2016 | 96,254 | ||||
Vested shares during 2017 | 84,821 | ||||
Vested shares during 2018 | 50,923 | ||||
Unrecognized cost of nonvested stock options granted | $ 333,000 | $ 333,000 | |||
Expected additional expense for 2017 | 253,000 | 253,000 | |||
Expected additional expense for 2018 | $ 93,000 | $ 93,000 | |||
2015 Long Term Incentive Compensation Plan [Member] | |||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||
Authorized shares of stock, option plan, maximum | 1,200,000 | 1,200,000 | |||
2007 Long-Term Incentive Plan [Member] | |||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||
Authorized shares of stock, option plan, maximum | 2,000,000 | 2,000,000 | |||
Shares, Granted | 4,359 | 3,623 | |||
Maximum term for option exercisable | 10 years | ||||
1999 Long-Term Incentive Plan [Member] | |||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||
Authorized shares of stock, option plan, maximum | 3,569,766 | 3,569,766 | |||
Option expiry term (Years) | 10 years | ||||
Executive Incentive Plan | |||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||
Percentage of amount paid in cash | 80.00% | ||||
Percentage of amount paid in restricted stock | 20.00% | ||||
Restricted stock vesting period | 3 years | ||||
Executive Incentive Plan | Restricted Stock Portion [Member] | |||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||
Stock-based compensation expense | $ 62,000 | 51,000 | $ 131,000 | $ 157,000 | |
Executive Incentive Plan | Cash Portion [Member] | |||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||
Stock-based compensation expense | 319,000 | 160,000 | 487,000 | 260,000 | |
Long Term Incentive Plan | |||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||
Stock-based compensation expense | $ 23,000 | $ 6,000 | $ 71,000 | $ 44,000 |
Stock Compensation - Summary of
Stock Compensation - Summary of Activity in Plans (Detail) - Jun. 30, 2015 - USD ($) $ / shares in Units, $ in Thousands | Total |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | |
Shares, Outstanding at beginning of year | 579,905 |
Shares, Granted | 4,359 |
Shares, Exercised | (13,000) |
Shares, Outstanding at end of period | 571,264 |
Shares, Options exercisable at end of period | 553,014 |
Weighted average exercise price, Outstanding at beginning of year | $ 2.52 |
Weighted average exercise price, Granted | 5.43 |
Weighted average exercise price, Exercised | 1.98 |
Weighted average exercise price, Outstanding at end of period | 2.55 |
Weighted average exercise price, Options exercisable at the end of period | $ 2.49 |
Aggregate intrinsic value, Outstanding at end of period | $ 1,638 |
Aggregate intrinsic value, Options exercisable at the end of period | $ 1,618 |
Stock Compensation - Informatio
Stock Compensation - Information Related to Stock Option Plans (Detail) - USD ($) | 6 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ||
Intrinsic value of options exercised | $ 43,641 | $ 135,800 |
Cash received from option exercises | $ 25,700 | 162,000 |
Tax benefit realized from option exercises | $ 10,267 | |
Weighted average fair value of options granted, per share | $ 1.72 | $ 1.70 |
Stock Compensation - Weighted-A
Stock Compensation - Weighted-Average Assumptions for Determining Fair Value of Options Granted (Detail) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ||||
Risk-free interest rate | 1.35% | 1.79% | 1.42% | 1.76% |
Expected term (years) | 5 years | 5 years | 5 years | 5 years |
Expected stock volatility | 36.17% | 58.62% | 36.42% | 64.98% |
Dividend yield | 0.72% | 0.74% |
Stock Compensation - Summary 39
Stock Compensation - Summary of Changes in Company's Nonvested Restricted Shares (Detail) - 6 months ended Jun. 30, 2015 - Restricted Stock [Member] - $ / shares | Total |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |
Shares, Nonvested shares, Beginning balance | 223,624 |
Shares, Granted | 130,458 |
Shares, Vested | (81,763) |
Shares, Forfeited | (8,091) |
Shares, Nonvested shares, Ending balance | 264,228 |
Weighted average grant date fair value, Nonvested shares, Beginning balance | $ 3.88 |
Weighted average grant date fair value, Granted | 5.32 |
Weighted average grant date fair value, Vested | 4.20 |
Weighted average grant date fair value, Forfeited | 4.87 |
Weighted average grant date fair value, Nonvested shares, Ending balance | $ 4.46 |
Securities - Components of Avai
Securities - Components of Available for Sale Portfolio (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Schedule of Available-for-sale Securities [Line Items] | ||
Total amortized cost | $ 482,760 | $ 506,429 |
Available-for-sale securities, Gross unrealized gains | 218 | 515 |
Available-for-sale securities, Gross unrealized losses | (10,006) | (7,154) |
Total fair value | 472,972 | 499,790 |
U.S. Treasury and Government Sponsored Entities' Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total amortized cost | 226,539 | 232,225 |
Available-for-sale securities, Gross unrealized gains | 125 | 184 |
Available-for-sale securities, Gross unrealized losses | (5,569) | (4,452) |
Total fair value | 221,095 | 227,957 |
Mortgage-Backed GSE Securities: Residential [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total amortized cost | 256,221 | 274,204 |
Available-for-sale securities, Gross unrealized gains | 93 | 331 |
Available-for-sale securities, Gross unrealized losses | (4,437) | (2,702) |
Total fair value | $ 251,877 | $ 271,833 |
Securities - Components of Held
Securities - Components of Held to Maturity Securities Portfolio (Detail) - USD ($) | Jun. 30, 2015 | Dec. 31, 2014 |
Schedule Of Held To Maturity Securities [Line Items] | ||
Held to maturity securities, Total amortized cost | $ 4,775,000 | $ 0 |
Held to maturity securities, Gross unrecognized losses | (96,000) | |
Held to maturity securities, Fair value | 4,679,000 | $ 0 |
States of the U.S. and Political Subdivisions [Member] | ||
Schedule Of Held To Maturity Securities [Line Items] | ||
Held to maturity securities, Total amortized cost | 4,775,000 | |
Held to maturity securities, Gross unrecognized losses | (96,000) | |
Held to maturity securities, Fair value | $ 4,679,000 |
Securities - Additional Informa
Securities - Additional Information (Detail) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | |
Schedule Of Trading Securities And Other Trading Assets [Line Items] | |||||
Held to maturity securities, Carrying Value | $ 4,775,000 | $ 4,775,000 | $ 0 | ||
Securities pledged for public funds | 109,500,000 | 109,500,000 | 36,200,000 | ||
Securities pledged for borrowings | 64,300,000 | 64,300,000 | 82,200,000 | ||
Proceeds from the sale of securities available for sale | 0 | $ 5,000,000 | 5,153,000 | $ 5,042,000 | |
Gross gains on sales of securities available for sale | 0 | $ 31,000 | 11,000 | $ 34,000 | |
Ohio Linked Deposit Program [Member] | |||||
Schedule Of Trading Securities And Other Trading Assets [Line Items] | |||||
Securities pledged for investment in Ohio Linked Deposit Program | $ 0 | $ 0 | $ 501,000 |
Securities - Debt Securities Av
Securities - Debt Securities Available for Sale by Contractual Maturity (Detail) $ in Thousands | Jun. 30, 2015USD ($) |
Amortized Cost And Fair Value Debt Securities [Abstract] | |
Due after five years through ten years, amortized cost | $ 199,219 |
Due after ten years, amortized cost | 27,320 |
Mortgage-backed GSE securities: residential, amortized cost | 256,221 |
Total amortized cost | 482,760 |
Due after five years through ten years, fair value | 194,901 |
Due after ten years, fair value | 26,194 |
Mortgage-backed GSE securities: residential, fair value | 251,877 |
Total fair value | $ 472,972 |
Securities - Debt Securities He
Securities - Debt Securities Held to Maturity by Contractual Maturity (Detail) - USD ($) | Jun. 30, 2015 | Dec. 31, 2014 |
Investments Debt And Equity Securities [Abstract] | ||
Due after five years through ten years, amortized cost | $ 570,000 | |
Due after ten years, amortized cost | 4,205,000 | |
Held to maturity securities, Total amortized cost | 4,775,000 | $ 0 |
Due after five years through ten years, fair value | 561,000 | |
Due after ten years, fair value | 4,118,000 | |
Held to maturity securities, Total fair value | $ 4,679,000 | $ 0 |
Securities - Securities Availab
Securities - Securities Available for Sale in Unrealized Loss Position (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Schedule of Available-for-sale Securities [Line Items] | ||
Fair value, Less than 12 months | $ 274,955 | $ 4,625 |
Unrealized loss, Less than 12 months | (4,714) | (40) |
Fair value, 12 months or more | 157,938 | 407,929 |
Unrealized loss, 12 months or more | (5,292) | (7,114) |
Total Fair value | 432,893 | 412,554 |
Total, unrealized loss | (10,006) | (7,154) |
U.S. Treasury and Government Sponsored Entities' Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair value, Less than 12 months | 153,352 | |
Unrealized loss, Less than 12 months | (3,434) | |
Fair value, 12 months or more | 54,383 | 214,495 |
Unrealized loss, 12 months or more | (2,135) | (4,452) |
Total Fair value | 207,735 | 214,495 |
Total, unrealized loss | (5,569) | (4,452) |
Mortgage-Backed GSE Securities: Residential [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair value, Less than 12 months | 121,603 | 4,625 |
Unrealized loss, Less than 12 months | (1,280) | (40) |
Fair value, 12 months or more | 103,555 | 193,434 |
Unrealized loss, 12 months or more | (3,157) | (2,662) |
Total Fair value | 225,158 | 198,059 |
Total, unrealized loss | $ (4,437) | $ (2,702) |
Securities - Securities Held to
Securities - Securities Held to Maturity in Unrealized Loss Position (Detail) $ in Thousands | Jun. 30, 2015USD ($) |
Schedule Of Held To Maturity Securities [Line Items] | |
Fair value, Less than 12 months | $ 4,679 |
Unrealized loss, Less than 12 months | (96) |
Total fair value | 4,679 |
Total unrealized loss | (96) |
States of the U.S. and Political Subdivisions [Member] | |
Schedule Of Held To Maturity Securities [Line Items] | |
Fair value, Less than 12 months | 4,679 |
Unrealized loss, Less than 12 months | (96) |
Total fair value | 4,679 |
Total unrealized loss | $ (96) |
Loans - Schedule of Portfolio o
Loans - Schedule of Portfolio of Loans (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Total commercial loans | $ 313,275 | $ 252,911 |
Total residential mortgage loans | 743,416 | 731,218 |
Total consumer loans | 183,696 | 180,754 |
Total loans | 1,240,387 | 1,164,883 |
Allowance for loan losses | 16,881 | 17,687 |
Deferred loan costs, net | (962) | (897) |
Total | 15,919 | 16,790 |
Loans, net | 1,224,468 | 1,148,093 |
Multifamily [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Total commercial loans | 69,485 | 60,546 |
Nonresidential [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Total commercial loans | 148,025 | 121,595 |
Land [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Total commercial loans | 10,231 | 9,484 |
Construction [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Total commercial loans | 16,265 | 16,064 |
Total residential mortgage loans | 34,074 | 37,113 |
Secured [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Total commercial loans | 68,813 | 45,088 |
Unsecured [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Total commercial loans | 456 | 134 |
One-to Four-Family [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Total residential mortgage loans | 709,342 | 694,105 |
Home Equity [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Total consumer loans | 157,909 | 154,776 |
Auto [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Total consumer loans | 8,169 | 5,902 |
Marine [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Total consumer loans | 3,054 | 3,917 |
Recreational Vehicle [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Total consumer loans | 12,611 | 14,054 |
Other [Member] | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Total consumer loans | $ 1,953 | $ 2,105 |
Loans - Investment in Loans by
Loans - Investment in Loans by Portfolio Segment and Based on Impairment (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | |
Financing Receivable Allowance For Credit Losses [Line Items] | |||||
Allowance, Beginning balance | $ 17,221 | $ 20,554 | $ 17,687 | $ 21,116 | |
Provision (recovery) for loan losses | 753 | (1,614) | 569 | (1,581) | |
Charge-offs | (1,464) | (1,192) | (2,176) | (2,356) | |
Recoveries | 371 | 516 | 801 | 1,085 | |
Allowance, Ending balance | 16,881 | 18,264 | 16,881 | 18,264 | |
Loans individually evaluated for impairment | 3,085 | 3,625 | 3,085 | 3,625 | $ 3,310 |
Loans collectively evaluated for impairment | 13,796 | 13,796 | 14,377 | ||
Loans individually evaluated for impairment | 43,854 | 47,080 | 43,854 | 47,080 | 45,897 |
Loans collectively evaluated for impairment | 1,196,533 | 1,196,533 | 1,118,986 | ||
Total loans | 1,240,387 | 1,240,387 | 1,164,883 | ||
Commercial Loans [Member] | |||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||
Allowance, Beginning balance | 5,945 | 7,275 | 5,690 | 6,984 | |
Provision (recovery) for loan losses | 1,015 | (1,565) | 1,173 | (1,075) | |
Charge-offs | (779) | (509) | (794) | (951) | |
Recoveries | 208 | 318 | 320 | 561 | |
Allowance, Ending balance | 6,389 | 5,519 | 6,389 | 5,519 | |
Loans individually evaluated for impairment | 673 | 673 | 717 | ||
Loans collectively evaluated for impairment | 5,716 | 5,716 | 4,973 | ||
Loans individually evaluated for impairment | 13,592 | 13,592 | 14,845 | ||
Loans collectively evaluated for impairment | 299,683 | 299,683 | 238,066 | ||
Total loans | 313,275 | 313,275 | 252,911 | ||
Residential Mortgage Loans [Member] | |||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||
Allowance, Beginning balance | 7,666 | 9,337 | 8,517 | 9,830 | |
Provision (recovery) for loan losses | (278) | (201) | (1,149) | (531) | |
Charge-offs | (328) | (236) | (494) | (551) | |
Recoveries | 22 | 55 | 208 | 207 | |
Allowance, Ending balance | 7,082 | 8,955 | 7,082 | 8,955 | |
Loans individually evaluated for impairment | 1,651 | 1,651 | 1,751 | ||
Loans collectively evaluated for impairment | 5,431 | 5,431 | 6,766 | ||
Loans individually evaluated for impairment | 19,239 | 19,239 | 19,209 | ||
Loans collectively evaluated for impairment | 724,177 | 724,177 | 712,009 | ||
Total loans | 743,416 | 743,416 | 731,218 | ||
Consumer Loans [Member] | |||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||
Allowance, Beginning balance | 3,610 | 3,942 | 3,480 | 4,302 | |
Provision (recovery) for loan losses | 16 | 152 | 545 | 25 | |
Charge-offs | (357) | (447) | (888) | (854) | |
Recoveries | 141 | 143 | 273 | 317 | |
Allowance, Ending balance | 3,410 | $ 3,790 | 3,410 | $ 3,790 | |
Loans individually evaluated for impairment | 761 | 761 | 842 | ||
Loans collectively evaluated for impairment | 2,649 | 2,649 | 2,638 | ||
Loans individually evaluated for impairment | 11,023 | 11,023 | 11,843 | ||
Loans collectively evaluated for impairment | 172,673 | 172,673 | 168,911 | ||
Total loans | $ 183,696 | $ 183,696 | $ 180,754 |
Loans - Additional Information
Loans - Additional Information (Detail) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2013 | |
Accounts Notes And Loans Receivable [Line Items] | ||||||||
Evaluation period of net charge-off history | 2 years 9 months | 2 years | ||||||
Recorded investment in trouble debt restructuring, valuation allowance | $ 16,881,000 | $ 18,264,000 | $ 16,881,000 | $ 18,264,000 | $ 17,687,000 | $ 17,221,000 | $ 20,554,000 | $ 21,116,000 |
Amounts charged off | 1,464,000 | 1,192,000 | $ 2,176,000 | 2,356,000 | ||||
Period of cumulative homogeneous loans past due included in company analysis | 90 days | |||||||
Troubled Debt Restructurings | ||||||||
Accounts Notes And Loans Receivable [Line Items] | ||||||||
Recorded investment in trouble debt restructuring | 29,500,000 | $ 29,500,000 | 28,100,000 | |||||
Recorded investment in trouble debt restructuring, valuation allowance | 2,400,000 | 2,400,000 | 2,600,000 | |||||
commitment to lend additional amounts | 41,000 | 41,000 | $ 50,000 | |||||
Increment in allowance for loan losses | 24,000 | 59,000 | 82,000 | 116,000 | ||||
Amounts charged off | 0 | 3,000 | 0 | $ 3,000 | ||||
TDRs with Subsequent Default [Member] | ||||||||
Accounts Notes And Loans Receivable [Line Items] | ||||||||
Amounts charged off | 0 | 0 | 0 | |||||
Effect of troubled debt restructurings on provision for loan losses | $ 0 | $ 0 | $ 0 |
Loans - Presentation of Loans I
Loans - Presentation of Loans Individually Evaluated for Impairment by Class (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2015 | Dec. 31, 2014 | |
Financing Receivable Impaired [Line Items] | ||||
With no specific allowance recorded, Unpaid Principal Balance | $ 29,796 | $ 29,796 | $ 27,869 | |
With no specific allowance recorded, Recorded Investment | 17,331 | 17,331 | 16,138 | |
With no specific allowance recorded, Average Recorded Investment | 23,701 | |||
With no specific allowance recorded, Interest Income Recognized | 35 | |||
With no specific allowance recorded, Cash Basis Income Recognized | 295 | |||
With a specific allowance recorded, Unpaid Principal Balance | 32,067 | 32,067 | 32,120 | |
With a specific allowance recorded, Recorded Investment | 29,749 | 29,749 | 29,759 | |
With a specific allowance recorded, Allowance for Loan Losses Allocated | 3,625 | 3,625 | 3,310 | |
With a specific allowance recorded, Average Recorded Investment | 31,265 | 23,719 | ||
With a specific allowance recorded, Interest Income Recognized | 277 | 551 | ||
With a specific allowance recorded, Cash Basis Income Recognized | 289 | 583 | ||
Total Unpaid Principal Balance | 61,863 | 61,863 | 59,989 | |
Loans individually evaluated for impairment | 47,080 | 47,080 | $ 43,854 | 45,897 |
Loans individually evaluated for impairment | 3,625 | 3,625 | 3,085 | 3,310 |
Total Average Recorded Investment | 47,420 | |||
Total Interest Income, Accrual Method | 586 | |||
Total Cash Basis Income Recognized | 878 | |||
Commercial Loans [Member] | ||||
Financing Receivable Impaired [Line Items] | ||||
With no specific allowance recorded, Unpaid Principal Balance | 18,916 | 18,916 | 19,631 | |
With no specific allowance recorded, Recorded Investment | 8,749 | 8,749 | 10,089 | |
With no specific allowance recorded, Average Recorded Investment | 10,153 | |||
With no specific allowance recorded, Cash Basis Income Recognized | 79 | |||
With a specific allowance recorded, Unpaid Principal Balance | 5,698 | 5,698 | 7,116 | |
With a specific allowance recorded, Recorded Investment | 3,568 | 3,568 | 4,756 | |
With a specific allowance recorded, Allowance for Loan Losses Allocated | 289 | 289 | 717 | |
With a specific allowance recorded, Average Recorded Investment | 4,321 | 3,643 | ||
With a specific allowance recorded, Interest Income Recognized | 1 | 2 | ||
With a specific allowance recorded, Cash Basis Income Recognized | 3 | 7 | ||
Loans individually evaluated for impairment | 13,592 | 14,845 | ||
Loans individually evaluated for impairment | 673 | 717 | ||
Commercial Loans [Member] | Multifamily [Member] | ||||
Financing Receivable Impaired [Line Items] | ||||
With no specific allowance recorded, Unpaid Principal Balance | 185 | 185 | 185 | |
With no specific allowance recorded, Recorded Investment | 86 | 86 | 85 | |
With no specific allowance recorded, Average Recorded Investment | 347 | |||
With a specific allowance recorded, Unpaid Principal Balance | 73 | 73 | 33 | |
With a specific allowance recorded, Recorded Investment | 48 | 48 | 8 | |
With a specific allowance recorded, Allowance for Loan Losses Allocated | 6 | 6 | 6 | |
With a specific allowance recorded, Average Recorded Investment | 567 | 326 | ||
Commercial Loans [Member] | Nonresidential [Member] | ||||
Financing Receivable Impaired [Line Items] | ||||
With no specific allowance recorded, Unpaid Principal Balance | 5,304 | 5,304 | 7,201 | |
With no specific allowance recorded, Recorded Investment | 3,684 | 3,684 | 5,582 | |
With no specific allowance recorded, Average Recorded Investment | 4,536 | |||
With no specific allowance recorded, Cash Basis Income Recognized | 20 | |||
With a specific allowance recorded, Unpaid Principal Balance | 1,865 | 1,865 | 3,944 | |
With a specific allowance recorded, Recorded Investment | 1,385 | 1,385 | 3,561 | |
With a specific allowance recorded, Allowance for Loan Losses Allocated | 78 | 78 | 615 | |
With a specific allowance recorded, Average Recorded Investment | 1,404 | 1,015 | ||
With a specific allowance recorded, Interest Income Recognized | 1 | 2 | ||
With a specific allowance recorded, Cash Basis Income Recognized | 3 | 7 | ||
Commercial Loans [Member] | Land [Member] | ||||
Financing Receivable Impaired [Line Items] | ||||
With no specific allowance recorded, Unpaid Principal Balance | 3,958 | 3,958 | 3,958 | |
With no specific allowance recorded, Recorded Investment | 532 | 532 | 532 | |
With no specific allowance recorded, Average Recorded Investment | 498 | |||
Commercial Loans [Member] | Construction [Member] | ||||
Financing Receivable Impaired [Line Items] | ||||
With no specific allowance recorded, Unpaid Principal Balance | 1,741 | 1,741 | 1,126 | |
With no specific allowance recorded, Recorded Investment | 739 | 739 | 188 | |
With no specific allowance recorded, Average Recorded Investment | 824 | |||
With a specific allowance recorded, Unpaid Principal Balance | 3,436 | 3,436 | 2,815 | |
With a specific allowance recorded, Recorded Investment | 1,811 | 1,811 | 863 | |
With a specific allowance recorded, Allowance for Loan Losses Allocated | 202 | 202 | 93 | |
With a specific allowance recorded, Average Recorded Investment | 2,026 | 2,140 | ||
Commercial Loans [Member] | Secured [Member] | ||||
Financing Receivable Impaired [Line Items] | ||||
With no specific allowance recorded, Unpaid Principal Balance | 3,945 | 3,945 | 3,903 | |
With no specific allowance recorded, Recorded Investment | 3,708 | 3,708 | 3,702 | |
With no specific allowance recorded, Average Recorded Investment | 3,948 | |||
With no specific allowance recorded, Cash Basis Income Recognized | 2 | |||
With a specific allowance recorded, Unpaid Principal Balance | 324 | 324 | 324 | |
With a specific allowance recorded, Recorded Investment | 324 | 324 | 324 | |
With a specific allowance recorded, Allowance for Loan Losses Allocated | 3 | 3 | 3 | |
With a specific allowance recorded, Average Recorded Investment | 324 | 162 | ||
Commercial Loans [Member] | Unsecured [Member] | ||||
Financing Receivable Impaired [Line Items] | ||||
With no specific allowance recorded, Unpaid Principal Balance | 3,783 | 3,783 | 3,258 | |
With no specific allowance recorded, Cash Basis Income Recognized | 57 | |||
Residential Mortgage Loans [Member] | ||||
Financing Receivable Impaired [Line Items] | ||||
With no specific allowance recorded, Unpaid Principal Balance | 7,571 | 7,571 | 6,015 | |
With no specific allowance recorded, Recorded Investment | 6,020 | 6,020 | 4,518 | |
With no specific allowance recorded, Average Recorded Investment | 8,558 | |||
With no specific allowance recorded, Interest Income Recognized | 29 | |||
With no specific allowance recorded, Cash Basis Income Recognized | 148 | |||
With a specific allowance recorded, Unpaid Principal Balance | 15,252 | 15,252 | 14,691 | |
With a specific allowance recorded, Recorded Investment | 15,252 | 15,252 | 14,691 | |
With a specific allowance recorded, Allowance for Loan Losses Allocated | 2,246 | 2,246 | 1,751 | |
With a specific allowance recorded, Average Recorded Investment | 15,742 | 11,761 | ||
With a specific allowance recorded, Interest Income Recognized | 145 | 292 | ||
With a specific allowance recorded, Cash Basis Income Recognized | 148 | 305 | ||
Loans individually evaluated for impairment | 19,239 | 19,209 | ||
Loans individually evaluated for impairment | 1,651 | 1,751 | ||
Residential Mortgage Loans [Member] | One-to Four-Family [Member] | ||||
Financing Receivable Impaired [Line Items] | ||||
With no specific allowance recorded, Unpaid Principal Balance | 7,571 | 7,571 | 6,015 | |
With no specific allowance recorded, Recorded Investment | 6,020 | 6,020 | 4,518 | |
With no specific allowance recorded, Average Recorded Investment | 8,558 | |||
With no specific allowance recorded, Interest Income Recognized | 29 | |||
With no specific allowance recorded, Cash Basis Income Recognized | 148 | |||
With a specific allowance recorded, Unpaid Principal Balance | 15,252 | 15,252 | 14,691 | |
With a specific allowance recorded, Recorded Investment | 15,252 | 15,252 | 14,691 | |
With a specific allowance recorded, Allowance for Loan Losses Allocated | 2,246 | 2,246 | 1,751 | |
With a specific allowance recorded, Average Recorded Investment | 15,742 | 11,761 | ||
With a specific allowance recorded, Interest Income Recognized | 145 | 292 | ||
With a specific allowance recorded, Cash Basis Income Recognized | 148 | 305 | ||
Consumer Loans [Member] | ||||
Financing Receivable Impaired [Line Items] | ||||
With no specific allowance recorded, Unpaid Principal Balance | 3,309 | 3,309 | 2,223 | |
With no specific allowance recorded, Recorded Investment | 2,562 | 2,562 | 1,531 | |
With no specific allowance recorded, Average Recorded Investment | 4,990 | |||
With no specific allowance recorded, Interest Income Recognized | 6 | |||
With no specific allowance recorded, Cash Basis Income Recognized | 68 | |||
With a specific allowance recorded, Unpaid Principal Balance | 11,117 | 11,117 | 10,313 | |
With a specific allowance recorded, Recorded Investment | 10,929 | 10,929 | 10,312 | |
With a specific allowance recorded, Allowance for Loan Losses Allocated | 1,090 | 1,090 | 842 | |
With a specific allowance recorded, Average Recorded Investment | 11,202 | 8,315 | ||
With a specific allowance recorded, Interest Income Recognized | 131 | 257 | ||
With a specific allowance recorded, Cash Basis Income Recognized | 138 | 271 | ||
Loans individually evaluated for impairment | 11,023 | 11,843 | ||
Loans individually evaluated for impairment | $ 761 | 842 | ||
Consumer Loans [Member] | Home Equity [Member] | ||||
Financing Receivable Impaired [Line Items] | ||||
With no specific allowance recorded, Unpaid Principal Balance | 2,509 | 2,509 | 1,901 | |
With no specific allowance recorded, Recorded Investment | 1,998 | 1,998 | 1,262 | |
With no specific allowance recorded, Average Recorded Investment | 4,517 | |||
With no specific allowance recorded, Interest Income Recognized | 3 | |||
With no specific allowance recorded, Cash Basis Income Recognized | 46 | |||
With a specific allowance recorded, Unpaid Principal Balance | 10,348 | 10,348 | 9,577 | |
With a specific allowance recorded, Recorded Investment | 10,160 | 10,160 | 9,577 | |
With a specific allowance recorded, Allowance for Loan Losses Allocated | 949 | 949 | 722 | |
With a specific allowance recorded, Average Recorded Investment | 10,399 | 7,568 | ||
With a specific allowance recorded, Interest Income Recognized | 124 | 246 | ||
With a specific allowance recorded, Cash Basis Income Recognized | 131 | 260 | ||
Consumer Loans [Member] | Auto [Member] | ||||
Financing Receivable Impaired [Line Items] | ||||
With no specific allowance recorded, Unpaid Principal Balance | 94 | 94 | 47 | |
With no specific allowance recorded, Recorded Investment | 79 | 79 | 37 | |
With no specific allowance recorded, Average Recorded Investment | 57 | |||
With no specific allowance recorded, Cash Basis Income Recognized | 5 | |||
With a specific allowance recorded, Unpaid Principal Balance | 8 | 8 | 7 | |
With a specific allowance recorded, Recorded Investment | 8 | 8 | 6 | |
With a specific allowance recorded, Allowance for Loan Losses Allocated | 1 | |||
With a specific allowance recorded, Average Recorded Investment | 9 | 4 | ||
Consumer Loans [Member] | Marine [Member] | ||||
Financing Receivable Impaired [Line Items] | ||||
With no specific allowance recorded, Unpaid Principal Balance | 156 | 156 | 151 | |
With no specific allowance recorded, Recorded Investment | 156 | 156 | 151 | |
With no specific allowance recorded, Average Recorded Investment | 159 | |||
With no specific allowance recorded, Cash Basis Income Recognized | 5 | |||
Consumer Loans [Member] | Recreational Vehicle [Member] | ||||
Financing Receivable Impaired [Line Items] | ||||
With no specific allowance recorded, Unpaid Principal Balance | 544 | 544 | 124 | |
With no specific allowance recorded, Recorded Investment | 323 | 323 | 81 | |
With no specific allowance recorded, Average Recorded Investment | 255 | |||
With no specific allowance recorded, Interest Income Recognized | 3 | |||
With no specific allowance recorded, Cash Basis Income Recognized | 12 | |||
With a specific allowance recorded, Unpaid Principal Balance | 761 | 761 | 729 | |
With a specific allowance recorded, Recorded Investment | 761 | 761 | 729 | |
With a specific allowance recorded, Allowance for Loan Losses Allocated | 141 | 141 | $ 119 | |
With a specific allowance recorded, Average Recorded Investment | 794 | 743 | ||
With a specific allowance recorded, Interest Income Recognized | 7 | 11 | ||
With a specific allowance recorded, Cash Basis Income Recognized | 7 | 11 | ||
Consumer Loans [Member] | Other [Member] | ||||
Financing Receivable Impaired [Line Items] | ||||
With no specific allowance recorded, Unpaid Principal Balance | 6 | 6 | ||
With no specific allowance recorded, Recorded Investment | $ 6 | 6 | ||
With no specific allowance recorded, Average Recorded Investment | $ 2 |
Loans - Loans in Process of For
Loans - Loans in Process of Foreclosure (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 |
Financing Receivable Impaired [Line Items] | |||
Unpaid Principal Balance | $ 59,989 | $ 61,863 | |
Total Recorded Investment | $ 43,854 | 45,897 | $ 47,080 |
Residential Mortgage Loans [Member] | |||
Financing Receivable Impaired [Line Items] | |||
Total Recorded Investment | 19,239 | 19,209 | |
Residential Mortgage Loans [Member] | Loans In Process Of Foreclosure | |||
Financing Receivable Impaired [Line Items] | |||
Unpaid Principal Balance | 2,176 | 1,714 | |
Total Recorded Investment | 2,105 | 1,661 | |
Consumer Loans [Member] | |||
Financing Receivable Impaired [Line Items] | |||
Total Recorded Investment | 11,023 | 11,843 | |
Consumer Loans [Member] | Loans In Process Of Foreclosure | |||
Financing Receivable Impaired [Line Items] | |||
Unpaid Principal Balance | 1,035 | 707 | |
Total Recorded Investment | $ 846 | $ 489 |
Loans - Presentation of Recorde
Loans - Presentation of Recorded Investment in Nonaccrual Loans and Loans Past Due Over 90 Days and Still on Accrual by Class of Loans (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing receivable, recorded investment, Nonaccrual | $ 19,011 | $ 20,451 |
Commercial Loans [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing receivable, recorded investment, Nonaccrual | 10,649 | 11,472 |
Commercial Loans [Member] | Multifamily [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing receivable, recorded investment, Nonaccrual | 85 | 93 |
Commercial Loans [Member] | Nonresidential [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing receivable, recorded investment, Nonaccrual | 5,637 | 5,781 |
Commercial Loans [Member] | Land [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing receivable, recorded investment, Nonaccrual | 496 | 531 |
Commercial Loans [Member] | Construction [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing receivable, recorded investment, Nonaccrual | 415 | 1,051 |
Commercial Loans [Member] | Secured [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing receivable, recorded investment, Nonaccrual | 4,016 | 4,016 |
Residential Mortgage Loans [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing receivable, recorded investment, Nonaccrual | 6,475 | 6,816 |
Residential Mortgage Loans [Member] | One-to Four-Family [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing receivable, recorded investment, Nonaccrual | 6,475 | 6,816 |
Consumer Loans [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing receivable, recorded investment, Nonaccrual | 1,887 | 2,163 |
Consumer Loans [Member] | Home Equity [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing receivable, recorded investment, Nonaccrual | 1,490 | 1,792 |
Consumer Loans [Member] | Auto [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing receivable, recorded investment, Nonaccrual | 39 | 66 |
Consumer Loans [Member] | Marine [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing receivable, recorded investment, Nonaccrual | 242 | 119 |
Consumer Loans [Member] | Recreational Vehicle [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing receivable, recorded investment, Nonaccrual | 114 | 184 |
Consumer Loans [Member] | Other [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing receivable, recorded investment, Nonaccrual | $ 2 | $ 2 |
Loans - Presentation of Age Ana
Loans - Presentation of Age Analysis of Past-Due Loans, Segregated by Class of Loans (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | $ 17,806 | $ 20,948 |
Current Loans | 1,222,581 | 1,143,935 |
Total loans | 1,240,387 | 1,164,883 |
30-59 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 2,228 | 3,343 |
60-89 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 1,332 | 1,587 |
Greater than 90 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 14,246 | 16,018 |
Commercial Loans [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 8,808 | 9,582 |
Current Loans | 304,467 | 243,329 |
Total loans | 313,275 | 252,911 |
Commercial Loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 13 | |
Commercial Loans [Member] | Greater than 90 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 8,795 | 9,582 |
Commercial Loans [Member] | Multifamily [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 85 | 93 |
Current Loans | 69,400 | 60,453 |
Total loans | 69,485 | 60,546 |
Commercial Loans [Member] | Multifamily [Member] | Greater than 90 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 85 | 93 |
Commercial Loans [Member] | Nonresidential [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 3,796 | 3,891 |
Current Loans | 144,229 | 117,704 |
Total loans | 148,025 | 121,595 |
Commercial Loans [Member] | Nonresidential [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 13 | |
Commercial Loans [Member] | Nonresidential [Member] | Greater than 90 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 3,783 | 3,891 |
Commercial Loans [Member] | Land [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 496 | 531 |
Current Loans | 9,735 | 8,953 |
Total loans | 10,231 | 9,484 |
Commercial Loans [Member] | Land [Member] | Greater than 90 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 496 | 531 |
Commercial Loans [Member] | Construction [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 415 | 1,051 |
Current Loans | 15,850 | 15,013 |
Total loans | 16,265 | 16,064 |
Commercial Loans [Member] | Construction [Member] | Greater than 90 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 415 | 1,051 |
Commercial Loans [Member] | Secured [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 4,016 | 4,016 |
Current Loans | 64,797 | 41,072 |
Total loans | 68,813 | 45,088 |
Commercial Loans [Member] | Secured [Member] | Greater than 90 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 4,016 | 4,016 |
Commercial Loans [Member] | Unsecured [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current Loans | 456 | 134 |
Total loans | 456 | 134 |
Residential Mortgage Loans [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 6,257 | 7,740 |
Current Loans | 737,159 | 723,478 |
Total loans | 743,416 | 731,218 |
Residential Mortgage Loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 1,414 | 2,279 |
Residential Mortgage Loans [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 636 | 605 |
Residential Mortgage Loans [Member] | Greater than 90 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 4,207 | 4,856 |
Residential Mortgage Loans [Member] | Construction [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current Loans | 34,074 | 37,113 |
Total loans | 34,074 | 37,113 |
Residential Mortgage Loans [Member] | One-to Four-Family [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 6,257 | 7,740 |
Current Loans | 703,085 | 686,365 |
Total loans | 709,342 | 694,105 |
Residential Mortgage Loans [Member] | One-to Four-Family [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 1,414 | 2,279 |
Residential Mortgage Loans [Member] | One-to Four-Family [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 636 | 605 |
Residential Mortgage Loans [Member] | One-to Four-Family [Member] | Greater than 90 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 4,207 | 4,856 |
Consumer Loans [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 2,741 | 3,626 |
Current Loans | 180,955 | 177,128 |
Total loans | 183,696 | 180,754 |
Consumer Loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 801 | 1,064 |
Consumer Loans [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 696 | 982 |
Consumer Loans [Member] | Greater than 90 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 1,244 | 1,580 |
Consumer Loans [Member] | Home Equity [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 1,730 | 2,302 |
Current Loans | 156,179 | 152,474 |
Total loans | 157,909 | 154,776 |
Consumer Loans [Member] | Home Equity [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 472 | 588 |
Consumer Loans [Member] | Home Equity [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 136 | 183 |
Consumer Loans [Member] | Home Equity [Member] | Greater than 90 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 1,122 | 1,531 |
Consumer Loans [Member] | Automobile [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 20 | 51 |
Current Loans | 8,149 | 5,851 |
Total loans | 8,169 | 5,902 |
Consumer Loans [Member] | Automobile [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 9 | 21 |
Consumer Loans [Member] | Automobile [Member] | Greater than 90 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 11 | 30 |
Consumer Loans [Member] | Marine [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 382 | 686 |
Current Loans | 2,672 | 3,231 |
Total loans | 3,054 | 3,917 |
Consumer Loans [Member] | Marine [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 287 | |
Consumer Loans [Member] | Marine [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 686 | |
Consumer Loans [Member] | Marine [Member] | Greater than 90 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 95 | |
Consumer Loans [Member] | Recreational Vehicle [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 606 | 579 |
Current Loans | 12,005 | 13,475 |
Total loans | 12,611 | 14,054 |
Consumer Loans [Member] | Recreational Vehicle [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 33 | 452 |
Consumer Loans [Member] | Recreational Vehicle [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 557 | 109 |
Consumer Loans [Member] | Recreational Vehicle [Member] | Greater than 90 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 16 | 18 |
Consumer Loans [Member] | Other [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 3 | 8 |
Current Loans | 1,950 | 2,097 |
Total loans | 1,953 | 2,105 |
Consumer Loans [Member] | Other [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 3 | |
Consumer Loans [Member] | Other [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | $ 3 | 4 |
Consumer Loans [Member] | Other [Member] | Greater than 90 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | $ 1 |
Loans - Loans by Class Modified
Loans - Loans by Class Modified as Troubled Debt Restructurings (Detail) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015USD ($)SecurityLoan | Jun. 30, 2014USD ($)SecurityLoan | Jun. 30, 2015USD ($)SecurityLoan | Jun. 30, 2014USD ($)SecurityLoan | |
Financing Receivable Modifications [Line Items] | ||||
Number of Loans | SecurityLoan | 9 | 20 | 16 | 40 |
Pre-Modification Outstanding Recorded Investment | $ 597 | $ 1,387 | $ 1,392 | $ 2,628 |
Post-Modification Recorded Investment | $ 605 | $ 1,419 | $ 1,413 | $ 2,674 |
Commercial Loans [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of Loans | SecurityLoan | 1 | |||
Pre-Modification Outstanding Recorded Investment | $ 120 | |||
Post-Modification Recorded Investment | $ 120 | |||
Commercial Loans [Member] | Nonresidential [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of Loans | SecurityLoan | 1 | |||
Pre-Modification Outstanding Recorded Investment | $ 120 | |||
Post-Modification Recorded Investment | $ 120 | |||
Residential Mortgage Loans [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of Loans | SecurityLoan | 5 | 11 | 10 | 20 |
Pre-Modification Outstanding Recorded Investment | $ 469 | $ 922 | $ 910 | $ 1,491 |
Post-Modification Recorded Investment | $ 476 | $ 969 | $ 930 | $ 1,545 |
Residential Mortgage Loans [Member] | One-to Four-Family [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of Loans | SecurityLoan | 5 | 11 | 10 | 20 |
Pre-Modification Outstanding Recorded Investment | $ 469 | $ 922 | $ 910 | $ 1,491 |
Post-Modification Recorded Investment | $ 476 | $ 969 | $ 930 | $ 1,545 |
Consumer Loans [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of Loans | SecurityLoan | 4 | 9 | 6 | 19 |
Pre-Modification Outstanding Recorded Investment | $ 128 | $ 465 | $ 482 | $ 1,017 |
Post-Modification Recorded Investment | $ 129 | $ 450 | $ 483 | $ 1,009 |
Consumer Loans [Member] | Home Equity [Member] | ||||
Financing Receivable Modifications [Line Items] | ||||
Number of Loans | SecurityLoan | 4 | 9 | 6 | 19 |
Pre-Modification Outstanding Recorded Investment | $ 128 | $ 465 | $ 482 | $ 1,017 |
Post-Modification Recorded Investment | $ 129 | $ 450 | $ 483 | $ 1,009 |
Loans - Loans by Class Modifi55
Loans - Loans by Class Modified as Troubled Debt Restructurings with Payment Default (Detail) $ in Thousands | 6 Months Ended | |
Jun. 30, 2015USD ($)SecurityLoan | Jun. 30, 2014USD ($)SecurityLoan | |
Financing Receivable Modifications [Line Items] | ||
Number of loans | 3 | 6 |
Recorded Investment | $ | $ 132 | $ 246 |
Residential Mortgage Loans [Member] | ||
Financing Receivable Modifications [Line Items] | ||
Number of loans | 1 | 2 |
Recorded Investment | $ | $ 76 | $ 74 |
Residential Mortgage Loans [Member] | One-to Four-Family [Member] | ||
Financing Receivable Modifications [Line Items] | ||
Number of loans | 1 | 2 |
Recorded Investment | $ | $ 76 | $ 74 |
Consumer Loans [Member] | ||
Financing Receivable Modifications [Line Items] | ||
Number of loans | 2 | 4 |
Recorded Investment | $ | $ 56 | $ 172 |
Consumer Loans [Member] | Home Equity [Member] | ||
Financing Receivable Modifications [Line Items] | ||
Number of loans | 2 | 4 |
Recorded Investment | $ | $ 56 | $ 172 |
Loans - Risk Category of Loans
Loans - Risk Category of Loans by Class of Loans (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | $ 1,240,387 | $ 1,164,883 |
Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 1,194,766 | 1,109,057 |
Special Mention [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 13,775 | 18,273 |
Substandard [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 31,846 | 37,553 |
Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 31,846 | 37,553 |
Commercial Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 313,275 | 252,911 |
Commercial Loans [Member] | Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 277,650 | 209,026 |
Commercial Loans [Member] | Special Mention [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 13,647 | 17,324 |
Commercial Loans [Member] | Substandard [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 21,978 | 26,561 |
Commercial Loans [Member] | Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 21,978 | 26,561 |
Commercial Loans [Member] | Multifamily [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 69,485 | 60,546 |
Commercial Loans [Member] | Multifamily [Member] | Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 64,906 | 53,485 |
Commercial Loans [Member] | Multifamily [Member] | Special Mention [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 2,055 | 4,134 |
Commercial Loans [Member] | Multifamily [Member] | Substandard [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 2,524 | 2,927 |
Commercial Loans [Member] | Multifamily [Member] | Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 2,524 | 2,927 |
Commercial Loans [Member] | Nonresidential [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 148,025 | 121,595 |
Commercial Loans [Member] | Nonresidential [Member] | Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 123,491 | 92,074 |
Commercial Loans [Member] | Nonresidential [Member] | Special Mention [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 11,592 | 12,290 |
Commercial Loans [Member] | Nonresidential [Member] | Substandard [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 12,942 | 17,231 |
Commercial Loans [Member] | Nonresidential [Member] | Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 12,942 | 17,231 |
Commercial Loans [Member] | Land [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 10,231 | 9,484 |
Commercial Loans [Member] | Land [Member] | Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 9,735 | 8,952 |
Commercial Loans [Member] | Land [Member] | Substandard [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 496 | 532 |
Commercial Loans [Member] | Land [Member] | Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 496 | 532 |
Commercial Loans [Member] | Construction [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 16,265 | 16,064 |
Commercial Loans [Member] | Construction [Member] | Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 15,850 | 15,013 |
Commercial Loans [Member] | Construction [Member] | Substandard [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 415 | 1,051 |
Commercial Loans [Member] | Construction [Member] | Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 415 | 1,051 |
Commercial Loans [Member] | Secured [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 68,813 | 45,088 |
Commercial Loans [Member] | Secured [Member] | Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 63,319 | 39,480 |
Commercial Loans [Member] | Secured [Member] | Special Mention [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 900 | |
Commercial Loans [Member] | Secured [Member] | Substandard [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 5,494 | 4,708 |
Commercial Loans [Member] | Secured [Member] | Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 5,494 | 4,708 |
Commercial Loans [Member] | Unsecured [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 456 | 134 |
Commercial Loans [Member] | Unsecured [Member] | Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 349 | 22 |
Commercial Loans [Member] | Unsecured [Member] | Substandard [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 107 | 112 |
Commercial Loans [Member] | Unsecured [Member] | Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 107 | 112 |
Residential Mortgage Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 743,416 | 731,218 |
Residential Mortgage Loans [Member] | Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 735,644 | 721,892 |
Residential Mortgage Loans [Member] | Special Mention [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 125 | 939 |
Residential Mortgage Loans [Member] | Substandard [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 7,647 | 8,387 |
Residential Mortgage Loans [Member] | Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 7,647 | 8,387 |
Residential Mortgage Loans [Member] | Construction [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 34,074 | 37,113 |
Residential Mortgage Loans [Member] | Construction [Member] | Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 34,074 | 37,113 |
Residential Mortgage Loans [Member] | One-to Four-Family [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 709,342 | 694,105 |
Residential Mortgage Loans [Member] | One-to Four-Family [Member] | Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 701,570 | 684,779 |
Residential Mortgage Loans [Member] | One-to Four-Family [Member] | Special Mention [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 125 | 939 |
Residential Mortgage Loans [Member] | One-to Four-Family [Member] | Substandard [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 7,647 | 8,387 |
Residential Mortgage Loans [Member] | One-to Four-Family [Member] | Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 7,647 | 8,387 |
Consumer Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 183,696 | 180,754 |
Consumer Loans [Member] | Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 181,472 | 178,139 |
Consumer Loans [Member] | Special Mention [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 3 | 10 |
Consumer Loans [Member] | Substandard [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 2,221 | 2,605 |
Consumer Loans [Member] | Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 2,221 | 2,605 |
Consumer Loans [Member] | Home Equity [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 157,909 | 154,776 |
Consumer Loans [Member] | Home Equity [Member] | Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 156,152 | 152,599 |
Consumer Loans [Member] | Home Equity [Member] | Substandard [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 1,757 | 2,177 |
Consumer Loans [Member] | Home Equity [Member] | Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 1,757 | 2,177 |
Consumer Loans [Member] | Auto [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 8,169 | 5,902 |
Consumer Loans [Member] | Auto [Member] | Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 8,121 | 5,829 |
Consumer Loans [Member] | Auto [Member] | Special Mention [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 3 | 10 |
Consumer Loans [Member] | Auto [Member] | Substandard [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 45 | 63 |
Consumer Loans [Member] | Auto [Member] | Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 45 | 63 |
Consumer Loans [Member] | Marine [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 3,054 | 3,917 |
Consumer Loans [Member] | Marine [Member] | Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 2,770 | 3,766 |
Consumer Loans [Member] | Marine [Member] | Substandard [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 284 | 151 |
Consumer Loans [Member] | Marine [Member] | Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 284 | 151 |
Consumer Loans [Member] | Recreational Vehicle [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 12,611 | 14,054 |
Consumer Loans [Member] | Recreational Vehicle [Member] | Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 12,481 | 13,846 |
Consumer Loans [Member] | Recreational Vehicle [Member] | Substandard [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 130 | 208 |
Consumer Loans [Member] | Recreational Vehicle [Member] | Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 130 | 208 |
Consumer Loans [Member] | Other [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 1,953 | 2,105 |
Consumer Loans [Member] | Other [Member] | Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 1,948 | 2,099 |
Consumer Loans [Member] | Other [Member] | Substandard [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 5 | 6 |
Consumer Loans [Member] | Other [Member] | Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | $ 5 | $ 6 |
Mortgage Banking Activities - A
Mortgage Banking Activities - Additional Information (Detail) - USD ($) $ in Millions | Jun. 30, 2015 | Dec. 31, 2014 |
Mortgage Banking [Abstract] | ||
Mortgage loans serviced for others | $ 1,100 | $ 1,100 |
Total services loans | 1.3 | 1 |
Fair value of mortgage servicing rights | $ 9.8 | $ 9 |
Mortgage Banking Activities - P
Mortgage Banking Activities - Principal Balance of Mortgage Servicing Rights (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Mortgage loan portfolios serviced for: | ||
Mortgage loan portfolios service | $ 1,100,000 | $ 1,100,000 |
FHLMC | ||
Mortgage loan portfolios serviced for: | ||
Mortgage loan portfolios service | 849,109 | 821,609 |
FNMA | ||
Mortgage loan portfolios serviced for: | ||
Mortgage loan portfolios service | $ 248,012 | $ 259,463 |
Mortgage Banking Activities - C
Mortgage Banking Activities - Capitalized Mortgage Servicing Rights (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 | |
Mortgage Banking [Abstract] | |||||||
Beginning balance | $ 5,543 | $ 5,803 | $ 5,535 | $ 5,941 | |||
Originations | 530 | 287 | 981 | 541 | |||
Amortized to expense | (462) | (432) | (905) | (824) | |||
Ending balance | 5,611 | 5,658 | 5,611 | 5,658 | |||
Less valuation allowance | (12) | (6) | (12) | (6) | $ (219) | $ (58) | $ (1) |
Net balance | $ 5,599 | $ 5,652 | $ 5,599 | $ 5,652 |
Mortgage Banking Activities - V
Mortgage Banking Activities - Valuation Allowance for Mortgage Servicing Rights (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Mortgage Banking [Abstract] | ||||
Balance, beginning of period | $ (219) | $ (1) | $ (58) | |
Impairment charges | (5) | (161) | $ (6) | |
Recoveries | 207 | 207 | ||
Balance, end of period | $ (12) | $ (6) | $ (12) | $ (6) |
Mortgage Banking Activities - K
Mortgage Banking Activities - Key Economic Assumptions in Measuring Value of Mortgage Servicing Rights (Detail) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2015 | Dec. 31, 2014 | |
Mortgage Banking [Abstract] | ||
Weighted average prepayment rate | 195 | 219 |
Weighted average life (in years) | 3 years 6 months 15 days | 3 years 7 months 10 days |
Weighted average discount rate | 8.00% | 8.00% |
Other Real Estate Owned and O62
Other Real Estate Owned and Other Repossessed Assets - Real Estate Owned and Other Repossessed Assets (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 |
Other Real Estate Owned And Other Repossessed Assets [Abstract] | ||||||
Real estate owned and other repossessed assets | $ 4,556 | $ 4,890 | ||||
Valuation allowance | (1,195) | $ (1,244) | (1,423) | $ (3,563) | $ (3,588) | $ (4,059) |
End of period | $ 3,361 | $ 3,467 |
Other Real Estate Owned and O63
Other Real Estate Owned and Other Repossessed Assets - Valuation Allowance Related to Real Estate Owned (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Other Real Estate Owned And Other Repossessed Assets [Abstract] | ||||
Beginning of period | $ 1,244 | $ 3,588 | $ 1,423 | $ 4,059 |
Additions charged to expense | 42 | 146 | 123 | 438 |
Reductions due to sales | (91) | (171) | (351) | (934) |
End of period | $ 1,195 | $ 3,563 | $ 1,195 | $ 3,563 |
Other Real Estate Owned and O64
Other Real Estate Owned and Other Repossessed Assets - Expenses Related to Foreclosed and Repossessed Assets (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Other Real Estate Owned And Other Repossessed Assets [Abstract] | ||||
Net (gain) loss on sales | $ 60 | $ (104) | $ 69 | $ (13) |
Provision for unrealized losses, net | 42 | 146 | 123 | 438 |
Operating expenses, net of rental income | 18 | 137 | 159 | 350 |
Total expenses | $ 120 | $ 179 | $ 351 | $ 775 |
Fair Value Measurement - Additi
Fair Value Measurement - Additional Information (Detail) - USD ($) | 3 Months Ended | 6 Months Ended | |||||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 | |
Fair Value Measurements Disclosure [Line Items] | |||||||
Derivative instrument maximum maturity period | 30 years | ||||||
Transfers between level 1 and level 2 | $ 0 | $ 0 | $ 0 | ||||
Loans held for sale, at fair value | 9,839,000 | 9,839,000 | 0 | ||||
Transfers between level 2 and level 3 | 0 | 0 | 0 | ||||
Fair value of the collateral dependent loans, net carrying amount | 4,200,000 | $ 3,200,000 | 4,200,000 | $ 3,200,000 | 4,800,000 | ||
Specific allowance for collateral dependent loans | 644,000 | 277,000 | 644,000 | 277,000 | 713,000 | ||
Increase (decrease) in provision for loan losses | $ (34,000) | (30,000) | (36,000) | 439,000 | |||
Discount applied to appraisals for estimated selling costs percentage | 10.00% | ||||||
Mortgage servicing rights carried at fair value | $ 215,000 | 157,000 | 215,000 | 157,000 | 1,100,000 | ||
Mortgage servicing rights carried at fair value, valuation allowance | 12,000 | 6,000 | 12,000 | 6,000 | $ 219,000 | 58,000 | $ 1,000 |
Net impairment (recovery) reflected in other income | (207,000) | 5,000 | (46,000) | 6,000 | |||
Other real estate owned carried at fair value | 1,800,000 | 1,800,000 | |||||
Other Real Estate Owned Carried At Fair Value, Gross | 6,800,000 | 6,800,000 | 3,300,000 | ||||
Valuation allowance related to other real estate owned | 1,200,000 | 3,600,000 | 1,200,000 | 3,600,000 | $ 1,400,000 | ||
Additions charged to expense | 42,000 | $ 146,000 | 123,000 | $ 438,000 | |||
Fair Value, Option, Loans Held as Assets, 90 Days or More Past Due | 0 | $ 0 | |||||
Maximum maturity period of short term borrowings | 90 days | ||||||
Minimum [Member] | |||||||
Fair Value Measurements Disclosure [Line Items] | |||||||
Increase in fair value | $ 250,000 | $ 250,000 |
Fair Value Measurement - Assets
Fair Value Measurement - Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Available for sale securities, Fair value | $ 472,972 | $ 499,790 |
Fair Value, Measurements, Recurring [Member] | Interest Rate Caps [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Available for sale securities, Fair value | 24 | 180 |
Fair Value, Measurements, Recurring [Member] | US Treasury and Government Sponsored Entities Securities [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Available for sale securities, Fair value | 221,095 | 227,957 |
Fair Value, Measurements, Recurring [Member] | Mortgage-Backed GSE Securities: Residential [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Available for sale securities, Fair value | 251,877 | 271,833 |
Fair Value, Measurements, Recurring [Member] | Loans Held For Sale, at Fair Value [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Available for sale securities, Fair value | 9,839 | |
Fair Value, Measurements, Recurring [Member] | Purchased Certificate of Deposit Option [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Available for sale securities, Fair value | 847 | 930 |
Fair Value, Measurements, Recurring [Member] | Written Certificate of Deposit Option [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Liabilities, Fair value | 847 | 930 |
Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | US Treasury and Government Sponsored Entities Securities [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Available for sale securities, Fair value | 221,095 | 227,957 |
Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | Mortgage-Backed GSE Securities: Residential [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Available for sale securities, Fair value | 251,877 | 271,833 |
Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | Purchased Certificate of Deposit Option [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Available for sale securities, Fair value | 847 | 930 |
Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | Written Certificate of Deposit Option [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Liabilities, Fair value | 847 | 930 |
Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Interest Rate Caps [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Available for sale securities, Fair value | 24 | $ 180 |
Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Loans Held For Sale, at Fair Value [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Available for sale securities, Fair value | $ 9,839 |
Fair Value Measurement - Reconc
Fair Value Measurement - Reconciliation of All Assets Measured at Fair Value on Recurring Basis Using Significant Unobservable Inputs (Level 3) (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ||||
Included in change in fair value of loans held for sale | $ (146) | $ 415 | ||
Interest Rate Caps [Member] | ||||
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ||||
Balance of recurring Level 3 assets at beginning of period | 126 | $ 419 | 180 | $ 546 |
Included in other income | 28 | (75) | 103 | (73) |
Amortization | (130) | (130) | (259) | (259) |
Balance of recurring Level 3 assets at end of period | 24 | $ 214 | 24 | $ 214 |
Loans Held For Sale, at Fair Value [Member] | ||||
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ||||
Balance of recurring Level 3 assets at beginning of period | 1,608 | |||
Included in change in fair value of loans held for sale | (146) | 415 | ||
Originations | 8,377 | 9,424 | ||
Balance of recurring Level 3 assets at end of period | $ 9,839 | $ 9,839 |
Fair Value Measurement - Quanti
Fair Value Measurement - Quantitative Information About Level 3 Fair Value Measurements for Financial Instruments Measured at Fair Value on Recurring Basis (Detail) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2015 | Dec. 31, 2014 | |
Interest Rate Caps [Member] | Discounted Cash Flow | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Fair Value | $ 24 | $ 180 |
Minimum [Member] | Interest Rate Caps [Member] | Discounted Cash Flow | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Fair Value Inputs, Discount Rate | 0.49% | 0.49% |
Maximum [Member] | Interest Rate Caps [Member] | Discounted Cash Flow | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Fair Value Inputs, Discount Rate | 1.18% | 1.18% |
Loans Held For Sale, at Fair Value [Member] | Comparable Sales | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Fair Value | $ 9,839 | |
Loans Held For Sale, at Fair Value [Member] | Minimum [Member] | Comparable Sales | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Fair Value Inputs, Time Discount | 0.00% | |
Loans Held For Sale, at Fair Value [Member] | Maximum [Member] | Comparable Sales | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Fair Value Inputs, Time Discount | 1.80% |
Fair Value Measurement - Asse69
Fair Value Measurement - Assets and Liabilities Measured on Non-recurring Basis (Detail) - Fair Value, Measurements, Nonrecurring [Member] - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Commercial Loans [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Impaired loans | $ 3,305 | $ 3,803 |
Commercial Loans [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Impaired loans | 3,305 | 3,803 |
Consumer Loans [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Impaired loans | 306 | 260 |
Consumer Loans [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Impaired loans | 306 | 260 |
Construction Loans [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Other real estate owned, net | 804 | 1,286 |
Construction Loans [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Other real estate owned, net | 804 | 1,286 |
Non Residential Loans [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Other real estate owned, net | 175 | |
Non Residential Loans [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Other real estate owned, net | 175 | |
Residential Loans [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Impaired loans | 601 | 765 |
Other real estate owned, net | 588 | 640 |
Residential Loans [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Impaired loans | 601 | 765 |
Other real estate owned, net | $ 588 | $ 640 |
Fair Value Measurement - Quan70
Fair Value Measurement - Quantitative Information About Level 3 Fair Value Measurements for Financial Instruments Measured at Fair Value on Nonrecurring Basis (Detail) - Fair Value, Measurements, Nonrecurring [Member] - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2015 | Dec. 31, 2014 | |
Impaired Loans | Commercial Loans [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Fair Value | $ 3,305 | $ 3,803 |
Impaired Loans | Commercial Loans [Member] | Sales Comparison Approach [Member] | Minimum [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Adjustment for differences between comparable sales | 0.00% | 0.00% |
Impaired Loans | Commercial Loans [Member] | Sales Comparison Approach [Member] | Maximum [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Adjustment for differences between comparable sales | 20.00% | 20.00% |
Impaired Loans | Commercial Loans [Member] | Sales Comparison Approach [Member] | Weighted Average [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Adjustment for differences between comparable sales | (10.00%) | (10.00%) |
Impaired Loans | Consumer Loans [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Fair Value | $ 306 | $ 260 |
Impaired Loans | Consumer Loans [Member] | Sales Comparison Approach [Member] | Minimum [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Adjustment for differences between comparable sales | 0.00% | 0.00% |
Impaired Loans | Consumer Loans [Member] | Sales Comparison Approach [Member] | Maximum [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Adjustment for differences between comparable sales | 17.85% | 10.00% |
Impaired Loans | Consumer Loans [Member] | Sales Comparison Approach [Member] | Weighted Average [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Adjustment for differences between comparable sales | (17.85%) | (5.00%) |
Impaired Loans | Residential Loans [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Fair Value | $ 601 | $ 765 |
Impaired Loans | Residential Loans [Member] | Sales Comparison Approach [Member] | Minimum [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Adjustment for differences between comparable sales | 0.00% | 0.00% |
Impaired Loans | Residential Loans [Member] | Sales Comparison Approach [Member] | Maximum [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Adjustment for differences between comparable sales | 10.77% | 11.80% |
Impaired Loans | Residential Loans [Member] | Sales Comparison Approach [Member] | Weighted Average [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Adjustment for differences between comparable sales | (10.00%) | (3.70%) |
Other Real Estate Owned | Construction Loans [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Fair Value | $ 804 | $ 1,286 |
Other Real Estate Owned | Construction Loans [Member] | Sales Comparison Approach [Member] | Minimum [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Adjustment for differences between comparable sales | 0.00% | 0.00% |
Other Real Estate Owned | Construction Loans [Member] | Sales Comparison Approach [Member] | Maximum [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Adjustment for differences between comparable sales | 25.00% | 58.10% |
Other Real Estate Owned | Construction Loans [Member] | Sales Comparison Approach [Member] | Weighted Average [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Adjustment for differences between comparable sales | (12.13%) | (22.20%) |
Other Real Estate Owned | Non Residential Loans [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Fair Value | $ 175 | |
Other Real Estate Owned | Non Residential Loans [Member] | Income Approach Valuation Technique | Minimum [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Adjustment for differences between comparable sales | 0.00% | |
Other Real Estate Owned | Non Residential Loans [Member] | Income Approach Valuation Technique | Maximum [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Adjustment for differences between comparable sales | 12.50% | |
Other Real Estate Owned | Non Residential Loans [Member] | Income Approach Valuation Technique | Weighted Average [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Adjustment for differences between comparable sales | (12.50%) | |
Other Real Estate Owned | Residential Loans [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Fair Value | $ 588 | $ 640 |
Other Real Estate Owned | Residential Loans [Member] | Sales Comparison Approach [Member] | Minimum [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Adjustment for differences between comparable sales | 0.00% | 0.00% |
Other Real Estate Owned | Residential Loans [Member] | Sales Comparison Approach [Member] | Maximum [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Adjustment for differences between comparable sales | 40.50% | 51.10% |
Other Real Estate Owned | Residential Loans [Member] | Sales Comparison Approach [Member] | Weighted Average [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Adjustment for differences between comparable sales | (14.55%) | (26.83%) |
Fair Value Measurement - Fair V
Fair Value Measurement - Fair Value Option for Newly Originated Permanent Construction Loans Held for Sale (Detail) - USD ($) | Jun. 30, 2015 | Dec. 31, 2014 |
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Aggregate fair value | $ 9,839,000 | $ 0 |
Construction Loans [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Aggregate fair value | 9,839,000 | |
Contractual balance | 9,424,000 | |
Gain (loss) | $ 415,000 |
Fair Value Measurement - Amount
Fair Value Measurement - Amount of Gains and Losses from Changes in Fair Value Included in Earnings (Detail) - Jun. 30, 2015 - USD ($) $ in Thousands | Total | Total |
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Change in fair value | $ (146) | $ 415 |
Construction Loans [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Change in fair value | (146) | 415 |
Total change in fair value | $ (146) | $ 415 |
Fair Value Measurement - Carryi
Fair Value Measurement - Carrying Value and Estimated Fair Values of Financial Instruments (Detail) - USD ($) | Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 | Dec. 31, 2013 |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||
Cash and cash equivalents, Carrying Value | $ 48,983,000 | $ 32,980,000 | $ 43,590,000 | $ 77,331,000 |
Held to maturity securities, Carrying Value | 4,775,000 | 0 | ||
Loans held for sale, Carrying Value | 25,263,000 | 20,730,000 | ||
Loans held for sale, at fair value | 9,839,000 | 0 | ||
Loans, net, Carrying Value | 1,224,468,000 | 1,148,093,000 | ||
FHLB stock, Carrying Value | 18,068,000 | 18,068,000 | ||
Accrued interest receivable, Carrying Value | 5,768,000 | 5,763,000 | ||
FHLB advances, Carrying Value | (192,085,000) | (186,194,000) | ||
Repurchase agreements and other, Carrying Value | (30,546,000) | (30,558,000) | ||
Advance payments by borrowers for taxes and insurance, Carrying Value | (15,085,000) | (19,904,000) | ||
Accrued interest payable, Carrying Value | (227,000) | (185,000) | ||
Available for sale securities, Fair value | 472,972,000 | 499,790,000 | ||
Held to maturity securities, Fair value | 4,679,000 | 0 | ||
Reported Value Measurement | ||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||
Cash and cash equivalents, Carrying Value | 48,983,000 | 32,980,000 | ||
Available for sale securities, Carrying Value | 472,972,000 | 499,790,000 | ||
Held to maturity securities, Carrying Value | 4,775,000 | |||
Loans held for sale, Carrying Value | 25,263,000 | 20,730,000 | ||
Loans held for sale, at fair value | 9,839,000 | |||
Loans, net, Carrying Value | 1,224,468,000 | 1,148,093,000 | ||
FHLB stock, Carrying Value | 18,068,000 | 18,068,000 | ||
Accrued interest receivable, Carrying Value | 5,768,000 | 5,763,000 | ||
Interest rate caps, Carrying Value | 24,000 | 180,000 | ||
Purchased certificate of deposit option, Carrying Value | 847,000 | 930,000 | ||
Checking, savings and money market accounts, Carrying Value | (982,536,000) | (912,536,000) | ||
Certificates of deposit, Carrying Value | (456,711,000) | (435,300,000) | ||
FHLB advances, Carrying Value | (192,085,000) | (186,194,000) | ||
Repurchase agreements and other, Carrying Value | (30,546,000) | (30,558,000) | ||
Advance payments by borrowers for taxes and insurance, Carrying Value | (15,085,000) | (19,904,000) | ||
Accrued interest payable, Carrying Value | (227,000) | (185,000) | ||
Written certificate of deposit option, Carrying Value | (847,000) | (930,000) | ||
Estimate of Fair Value Measurement | 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 | 48,983,000 | 32,980,000 | ||
Checking, savings and money market accounts, Fair Value | (982,636,000) | (912,536,000) | ||
Advance payments by borrowers for taxes and insurance, Fair Value | (15,085,000) | |||
Estimate of Fair Value Measurement | Significant Other Observable Inputs (Level 2) [Member] | ||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||
Loans held for sale, at fair value | 26,317,000 | 21,528,000 | ||
Available for sale securities, Fair value | 472,972,000 | 499,790,000 | ||
Held to maturity securities, Fair value | 4,679,000 | |||
Accrued interest receivable, Fair Value | 2,284,000 | 2,374,000 | ||
Purchased certificate of deposit option, Fair Value | 847,000 | 930,000 | ||
Certificates of deposit, Fair Value | (462,628,000) | (442,268,000) | ||
FHLB advances, Fair Value | (192,188,000) | (186,290,000) | ||
Repurchase agreements and other, Fair Value | (32,312,000) | (32,817,000) | ||
Accrued interest payable, Fair Value | (227,000) | (185,000) | ||
Written certificate of deposit option, Fair Value | (847,000) | (930,000) | ||
Estimate of Fair Value Measurement | Significant Unobservable Inputs (Level 3) [Member] | ||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||
Loans held for sale, at fair value | 9,839,000 | |||
Loans, net, Fair Value | 1,236,370,000 | 1,167,372,000 | ||
Accrued interest receivable, Fair Value | 3,484,000 | 3,389,000 | ||
Interest rate caps, Fair Value | $ 24,000 | $ 180,000 |
Statement of Cash Flows Suppl74
Statement of Cash Flows Supplemental Disclosure - Supplemental Disclosures of Cash Flow Information (Detail) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
Supplemental Cash Flow Information [Abstract] | ||
Interest on deposits and borrowings | $ 4,372 | $ 6,150 |
Income taxes | 100 | |
Supplemental schedule of noncash activities: | ||
Transfers from loans to real estate owned and other repossessed assets | $ 1,606 | $ 853 |
Earnings Per Share - Additional
Earnings Per Share - Additional Information (Detail) - shares | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Earnings Per Share [Abstract] | ||||
Anti-dilutive convertible preferred stock | 74,058 | 87,315 | 74,058 | 87,315 |
Earnings Per Share - Computatio
Earnings Per Share - Computation of Earnings Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2015 | Jun. 30, 2014 | Mar. 31, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Earnings Per Share [Abstract] | |||||
Net income per consolidated statements of income | $ 4,125 | $ 42,404 | $ 42,404 | $ 7,811 | $ 44,498 |
Net income allocated to participating securities | (25) | (235) | (39) | (232) | |
Net income allocated to common stock | 4,100 | 42,169 | 7,772 | 44,266 | |
Distributed earnings allocated to common stock | 490 | 979 | |||
Undistributed earnings allocated to common stock | 3,610 | 42,169 | 6,793 | 44,266 | |
Net income allocated to common stock | $ 4,100 | $ 42,169 | $ 7,772 | $ 44,266 | |
Weighted average common shares outstanding, including shares considered participating securities | 48,649 | 50,554 | 48,968 | 50,481 | |
Less: Average participating securities | (290) | (280) | (244) | (263) | |
Weighted average shares | 48,359 | 50,274 | 48,724 | 50,218 | |
Basic earnings per common share | $ 0.08 | $ 0.84 | $ 0.84 | $ 0.16 | $ 0.88 |
Weighted average common shares outstanding for basic earnings per common share | 48,359 | 50,274 | 48,724 | 50,218 | |
Add: Dilutive effects of assumed exercises of stock options | 275 | 222 | 273 | 221 | |
Weighted average shares and dilutive potential common shares | 48,634 | 50,496 | 48,997 | 50,439 | |
Diluted earnings per common share | $ 0.08 | $ 0.84 | $ 0.84 | $ 0.16 | $ 0.88 |
Other Comprehensive Income (L77
Other Comprehensive Income (Loss) - Additional Information (Detail) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2015 | Jun. 30, 2014 | Mar. 31, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Amounts Reclassified Out Of Accumulated Other Comprehensive Income Loss [Abstract] | |||||
Accumulated other comprehensive income | $ 0 | $ 31,000 | $ 31,000 | $ 11,000 | $ 34,000 |
Effect of disproportionate tax on accumulated other comprehensive income (loss) | $ (16,600,000) | $ (16,600,000) |
Other Comprehensive Income (L78
Other Comprehensive Income (Loss) - Other Comprehensive Income (Loss) Components and Related Tax Effects (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Accumulated Other Comprehensive Income Loss [Line Items] | ||||
Balances at beginning of period | $ (16,108) | $ (29,097) | $ (19,998) | $ (41,665) |
Balances at beginning of period, net of tax | (16,108) | (29,097) | (19,998) | (41,665) |
Other comprehensive income before reclassifications | (5,937) | 3,216 | (2,040) | 15,786 |
Reclassification adjustment for gains realized in income | (20) | (7) | (22) | |
Net current period other comprehensive income | (5,937) | 3,196 | (2,047) | 15,764 |
Balances at end of period, net of tax | (22,045) | (25,901) | (22,045) | (25,901) |
Unrealized Gains (Losses) on Securities Available for Sale [Member] | ||||
Accumulated Other Comprehensive Income Loss [Line Items] | ||||
Balances at beginning of period | (425) | (27,825) | (4,315) | (40,393) |
Income tax | 14,138 | 14,138 | ||
Balances at beginning of period, net of tax | (425) | (13,687) | (4,315) | (26,255) |
Other comprehensive income before reclassifications | (5,937) | 3,216 | (2,040) | 15,786 |
Reclassification adjustment for gains realized in income | (20) | (7) | (22) | |
Net current period other comprehensive income | (5,937) | 3,196 | (2,047) | 15,764 |
Balances at end of period, net of tax | (6,362) | (10,491) | (6,362) | (10,491) |
Disproportionate Tax Effect from Securities Available for Sale [Member] | ||||
Accumulated Other Comprehensive Income Loss [Line Items] | ||||
Balances at beginning of period | (17,110) | (2,972) | (17,110) | (2,972) |
Income tax | (14,138) | (14,138) | ||
Balances at beginning of period, net of tax | (17,110) | (17,110) | (17,110) | (17,110) |
Balances at end of period, net of tax | (17,110) | (17,110) | (17,110) | (17,110) |
Unrealized Gains (Losses) from Postretirement Plan [Member] | ||||
Accumulated Other Comprehensive Income Loss [Line Items] | ||||
Balances at beginning of period | 916 | 1,829 | 916 | 1,829 |
Income tax | (640) | (640) | ||
Balances at beginning of period, net of tax | 916 | 1,189 | 916 | 1,189 |
Balances at end of period, net of tax | 916 | 1,189 | 916 | 1,189 |
Disproportionate Tax Effect from Postretirement Plan [Member] | ||||
Accumulated Other Comprehensive Income Loss [Line Items] | ||||
Balances at beginning of period | 511 | (129) | 511 | (129) |
Income tax | 640 | 640 | ||
Balances at beginning of period, net of tax | 511 | 511 | 511 | 511 |
Balances at end of period, net of tax | $ 511 | $ 511 | $ 511 | $ 511 |
Other Comprehensive Income (L79
Other Comprehensive Income (Loss) - Summary of Reclassification Out of Each Component of Accumulated Comprehensive Income (Loss) (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2015 | Jun. 30, 2014 | Mar. 31, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income On Derivatives [Line Items] | |||||
Net gains on securities available for sale | $ 31 | $ 11 | $ 34 | ||
Tax expense | $ (2,040) | 38,837 | (3,855) | 38,681 | |
Net income | $ 4,125 | 42,404 | $ 42,404 | 7,811 | 44,498 |
Amount Reclassified From Accumulated Other Comprehensive Income [Member] | Realized Net Gains on Sale of Available for Sale Securities [Member] | |||||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income On Derivatives [Line Items] | |||||
Net gains on securities available for sale | (31) | (11) | (34) | ||
Tax expense | 11 | 4 | 12 | ||
Net income | $ (20) | $ (7) | $ (22) |
Regulatory Capital Requiremen80
Regulatory Capital Requirements - Actual and Statutory Required Capital Amounts and Ratios (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Home Savings | ||
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ||
Risk-based capital, Actual Amount | $ 237,890 | $ 233,974 |
Tier 1 capital to risk-weighted assets, Actual Amount | 222,593 | 220,080 |
Common equity Tier 1 capital to risk-weighted assets, Actual Amount | 222,593 | |
Tier 1 capital to average total assets, Actual Amount | $ 222,593 | $ 220,080 |
Total risk-based capital to risk-weighted assets, Actual Ratio | 19.69% | 21.13% |
Tier 1 capital to risk-weighted assets, Actual Ratio | 18.42% | 19.87% |
Common equity Tier 1 capital to risk-weighted assets, Actual Ratio | 18.42% | |
Tier 1 capital to average total assets, Actual Ratio | 11.94% | 12.11% |
Total risk-based capital to risk-weighted assets, Minimum Capital Amount | $ 96,655 | $ 88,602 |
Tier 1 capital to risk-weighted assets, Minimum Capital Amount | 72,492 | |
Common equity Tier 1 capital to risk-weighted assets, Minimum Capital Amount | 54,369 | |
Tier 1 capital to average total assets, Minimum Capital Amount | $ 74,542 | $ 72,674 |
Total risk-based capital to risk-weighted assets, Minimum Capital Ratio | 8.00% | 8.00% |
Tier 1 capital to risk-weighted assets, Minimum Capital Ratio | 6.00% | |
Common equity Tier 1 capital to risk-weighted assets, Minimum Capital Ratio | 4.50% | |
Tier 1 capital to average total assets, Minimum Capital Ratio | 4.00% | 4.00% |
Total risk-based capital to risk-weighted assets, To Be Well Capitalized Amount | $ 120,819 | $ 110,752 |
Tier 1 capital to risk-weighted assets, To Be Well Capitalized Amount | 96,655 | 66,451 |
Common equity Tier 1 capital to risk-weighted assets, To Be Well Capitalized Amount | 78,532 | |
Tier 1 capital to average total assets, To Be Well Capitalized Amount | $ 93,177 | $ 90,843 |
Total risk-based capital to risk-weighted assets, To Be Well Capitalized Ratio | 10.00% | 10.00% |
Tier 1 capital to risk-weighted assets, To Be Well Capitalized Ratio | 8.00% | 6.00% |
Common equity Tier 1 capital to risk-weighted assets, To Be Well Capitalized Ratio | 6.50% | |
Tier 1 capital to average total assets, To Be Well Capitalized Ratio | 5.00% | 5.00% |
United Community | ||
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ||
Risk-based capital, Actual Amount | $ 248,306 | |
Tier 1 capital to risk-weighted assets, Actual Amount | 232,991 | |
Common equity Tier 1 capital to risk-weighted assets, Actual Amount | 232,991 | |
Tier 1 capital to average total assets, Actual Amount | $ 232,991 | |
Total risk-based capital to risk-weighted assets, Actual Ratio | 20.57% | |
Tier 1 capital to risk-weighted assets, Actual Ratio | 19.30% | |
Common equity Tier 1 capital to risk-weighted assets, Actual Ratio | 19.30% | |
Tier 1 capital to average total assets, Actual Ratio | 12.50% | |
Total risk-based capital to risk-weighted assets, Minimum Capital Amount | $ 96,565 | |
Tier 1 capital to risk-weighted assets, Minimum Capital Amount | 72,424 | |
Common equity Tier 1 capital to risk-weighted assets, Minimum Capital Amount | 54,318 | |
Tier 1 capital to average total assets, Minimum Capital Amount | $ 74,541 | |
Total risk-based capital to risk-weighted assets, Minimum Capital Ratio | 8.00% | |
Tier 1 capital to risk-weighted assets, Minimum Capital Ratio | 6.00% | |
Common equity Tier 1 capital to risk-weighted assets, Minimum Capital Ratio | 4.50% | |
Tier 1 capital to average total assets, Minimum Capital Ratio | 4.00% | |
Total risk-based capital to risk-weighted assets, To Be Well Capitalized Amount | $ 120,707 | |
Tier 1 capital to risk-weighted assets, To Be Well Capitalized Amount | 96,565 | |
Common equity Tier 1 capital to risk-weighted assets, To Be Well Capitalized Amount | 78,459 | |
Tier 1 capital to average total assets, To Be Well Capitalized Amount | $ 93,176 | |
Total risk-based capital to risk-weighted assets, To Be Well Capitalized Ratio | 10.00% | |
Tier 1 capital to risk-weighted assets, To Be Well Capitalized Ratio | 8.00% | |
Common equity Tier 1 capital to risk-weighted assets, To Be Well Capitalized Ratio | 6.50% | |
Tier 1 capital to average total assets, To Be Well Capitalized Ratio | 5.00% |
Regulatory Capital Requiremen81
Regulatory Capital Requirements - Components of Regulatory Capital (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Home Savings | ||
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ||
Total shareholders' equity | $ 223,855 | $ 217,372 |
Accumulated other comprehensive income | 22,061 | 20,015 |
Intangible assets | (23) | (84) |
Disallowed deferred tax assets | (23,300) | (17,223) |
Tier 1 Capital | 222,593 | 220,080 |
Allowance for loan losses and allowance for unfunded lending commitments limited to 1.25% of total risk-weighted assets | 15,297 | 13,894 |
Total risk-based capital | 237,890 | $ 233,974 |
United Community | ||
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ||
Total shareholders' equity | 236,462 | |
Accumulated other comprehensive income | 22,045 | |
Intangible assets | (23) | |
Disallowed deferred tax assets | (25,493) | |
Tier 1 Capital | 232,991 | |
Allowance for loan losses and allowance for unfunded lending commitments limited to 1.25% of total risk-weighted assets | 15,315 | |
Total risk-based capital | $ 248,306 |
Regulatory Capital Requiremen82
Regulatory Capital Requirements - Components of Regulatory Capital (Parenthetical) (Detail) | Jun. 30, 2015 | Dec. 31, 2014 |
Home Savings | ||
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ||
Allowance for loan and allowance for unfunded lending commitments, percentage of risk-weighted assets | 1.25% | 1.25% |
United Community | ||
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ||
Allowance for loan and allowance for unfunded lending commitments, percentage of risk-weighted assets | 1.25% | 1.25% |
Income Taxes - Significant Comp
Income Taxes - Significant Components of Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Deferred tax assets: | ||
Loan loss reserves | $ 5,909 | $ 6,190 |
Postretirement benefits | 1,042 | 1,066 |
Depreciation | 735 | 625 |
Other real estate owned valuation | 418 | 498 |
Tax credits carryforward | 736 | 513 |
Unrealized loss on securities available for sale | 3,426 | 2,324 |
Interest on nonaccrual loans | 933 | 943 |
Net operating loss carryforward | 20,315 | 24,027 |
Purchase accounting adjustment | 86 | 82 |
Accrued bonuses | 405 | 459 |
Other | 338 | 279 |
Deferred tax assets | 34,343 | 37,006 |
Deferred tax liabilities: | ||
Deferred loan fees | 369 | 321 |
Federal Home Loan Bank stock dividends | 4,585 | 4,585 |
Mortgage servicing rights | 1,960 | 1,917 |
FHLB prepayment penalty | 1,195 | 1,332 |
Postretirement benefits accrual | 493 | 493 |
Prepaid expenses | 248 | 201 |
Deferred tax liabilities | 8,850 | 8,849 |
Net deferred tax asset | $ 25,493 | $ 28,157 |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
Income Tax Disclosure [Abstract] | ||
Deferred tax asset, gross | $ 25,500 | $ 28,200 |
Operating loss carryforwards used against taxable income | 58,000 | |
Alternative minimum tax credits carried forward | $ 736 | $ 513 |