Document and Entity Information
Document and Entity Information - shares | 3 Months Ended | |
Mar. 31, 2016 | Apr. 30, 2016 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Mar. 31, 2016 | |
Document Fiscal Year Focus | 2,016 | |
Document Fiscal Period Focus | Q1 | |
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 | 47,448,240 |
CONSOLIDATED STATEMENTS OF FINA
CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Unaudited) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Assets: | ||
Cash and deposits with banks | $ 22,191 | $ 20,528 |
Federal funds sold | 18,379 | 15,382 |
Total cash and cash equivalents | 40,570 | 35,910 |
Securities: | ||
Available for sale, at fair value | 365,369 | 357,670 |
Held to maturity, (fair value of $108,702 and $109,644, respectively) | 107,838 | 110,699 |
Loans held for sale, at lower of cost or market | 3,991 | 9,085 |
Loans held for sale, at fair value | 32,007 | 26,716 |
Loans, net of allowance for loan losses of $16,903 and $17,712 | 1,359,146 | 1,316,192 |
Federal Home Loan Bank stock, at cost | 18,068 | 18,068 |
Premises and equipment, net | 20,594 | 20,678 |
Accrued interest receivable | 5,783 | 5,978 |
Real estate owned and other repossessed assets, net | 1,846 | 2,727 |
Goodwill and other intangible assets | 1,620 | |
Core deposit intangible | 17 | 30 |
Cash surrender value of life insurance | 54,731 | 54,366 |
Other assets | 24,850 | 29,870 |
Total assets | 2,036,430 | 1,987,989 |
Deposits: | ||
Interest bearing | 1,235,783 | 1,208,238 |
Non-interest bearing | 230,831 | 227,505 |
Total deposits | 1,466,614 | 1,435,743 |
Federal Home Loan Bank advances | ||
Long-term Federal Home Loan Bank advances | 47,170 | 46,975 |
Short-term Federal Home Loan Bank advances | 244,000 | 232,000 |
Total Federal Home Loan Bank advances | 291,170 | 278,975 |
Repurchase agreements and other | 529 | 535 |
Total borrowed funds | 291,699 | 279,510 |
Advance payments by borrowers for taxes and insurance | 16,247 | 21,174 |
Accrued interest payable | 110 | 53 |
Accrued expenses and other liabilities | 9,956 | 7,264 |
Total liabilities | $ 1,784,626 | $ 1,743,744 |
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 47,506,526 and 47,517,644 shares, respectively, outstanding | $ 173,578 | $ 174,304 |
Retained earnings | 142,075 | 140,819 |
Accumulated other comprehensive income (loss) | (12,938) | (19,220) |
Treasury stock, at cost, 6,632,384 and 6,621,266 shares, respectively | (50,911) | (51,658) |
Total shareholders’ equity | 251,804 | 244,245 |
Total liabilities and shareholders’ equity | $ 2,036,430 | $ 1,987,989 |
CONSOLIDATED STATEMENTS OF FIN3
CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Unaudited) (Parenthetical) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Statement Of Financial Position [Abstract] | ||
Held to maturity, Fair Value | $ 108,702 | $ 109,644 |
Allowance for loan losses | $ 16,903 | $ 17,712 |
Preferred stock, par value | ||
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 | ||
Common stock, shares authorized | 499,000,000 | 499,000,000 |
Common stock, shares issued | 54,138,910 | 54,138,910 |
Common stock, shares outstanding | 47,506,526 | 47,517,644 |
Treasury stock, shares | 6,632,384 | 6,621,266 |
CONSOLIDATED STATEMENTS OF INCO
CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Interest income | ||
Loans | $ 13,801 | $ 12,691 |
Loans held for sale | 332 | 294 |
Securities available for sale, nontaxable | 123 | |
Securities available for sale, taxable | 1,935 | 2,861 |
Securities held to maturity, nontaxable | 55 | |
Securities held to maturity, taxable | 577 | |
Federal Home Loan Bank stock dividends | 182 | 182 |
Other interest earning assets | 15 | 6 |
Total interest income | 17,020 | 16,034 |
Interest expense | ||
Deposits | 1,612 | 1,533 |
Federal Home Loan Bank advances | 530 | 305 |
Repurchase agreements and other | 5 | 316 |
Total interest expense | 2,147 | 2,154 |
Net interest income | 14,873 | 13,880 |
Provision (recovery) for loan losses | 2,155 | (184) |
Net interest income after provision for loan losses | 12,718 | 14,064 |
Non-interest income | ||
Non-deposit investment income | 300 | 292 |
Mortgage servicing fees | 698 | 674 |
Deposit related fees | 1,326 | 1,065 |
Mortgage servicing rights valuation | (435) | (161) |
Mortgage servicing rights amortization | (468) | (443) |
Other service fees | 18 | 17 |
Net gains (losses): | ||
Securities available for sale (includes $153 and $11, respectively, accumulated other comprehensive income reclassifications for unrealized net gains on available for sale securities) | 153 | 11 |
Mortgage banking income | 1,382 | 1,553 |
Real estate owned and other repossessed assets, net | (13) | (90) |
Card fees | 881 | 816 |
Other income | 816 | 384 |
Total non-interest income | 4,658 | 4,118 |
Non-interest expense | ||
Salaries and employee benefits (includes $(278) and $0, respectively, accumulated other comprehensive income reclassifications from prior service credit on postretirement plan). | 7,088 | 7,176 |
Occupancy | 862 | 918 |
Equipment and data processing | 1,835 | 1,672 |
Franchise tax | 442 | 326 |
Advertising | 127 | 142 |
Amortization of core deposit intangible | 13 | 14 |
FDIC insurance premiums | 326 | 326 |
Other insurance premiums | 89 | 84 |
Legal and consulting fees | 197 | 217 |
Other professional fees | 70 | 376 |
Real estate owned and other repossessed asset expenses | 72 | 141 |
Other expenses | 1,343 | 1,289 |
Total non-interest expenses | 12,464 | 12,681 |
Income before income taxes | 4,912 | 5,501 |
Income tax expense (includes $151 and $4 income tax expense from reclassification items) | 1,592 | 1,815 |
Net income | 3,320 | 3,686 |
Other comprehensive income | ||
Unrealized gain on securities, available for sale, net of reclassifications and tax of $3,460 and $2,094, respectively | 6,429 | 3,890 |
Accretion of unrealized losses on securities transferred from available for sale to held to maturity, net of tax of $18 and $0, respectively | 34 | |
Accretion of unrecognized actuarial gains and amortization of prior service credit on postretirement plan, net of tax of $(97) and $0, respectively recognized in net income | (181) | |
Total other comprehensive income | 6,282 | 3,890 |
Comprehensive income | $ 9,602 | $ 7,576 |
Earnings per share | ||
Basic | $ 0.07 | $ 0.07 |
Diluted | $ 0.07 | $ 0.07 |
CONSOLIDATED STATEMENTS OF INC5
CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (Unaudited) (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Income Statement [Abstract] | ||
Accumulated other comprehensive income | $ 153 | $ 11 |
Accumulated other comprehensive income reclassification from prior service credit on postretirement plan | (278) | 0 |
Income tax expense from reclassification items | 151 | 4 |
Unrealized gains on securities available for sale, net of reclassifications, tax | 3,460 | 2,094 |
Accretion of unrealized losses on securities transferred from available for sale to held to maturity, tax | 18 | 0 |
Accretion of unrecognized actuarial gains and amortization of prior service credit on postretirement plan, tax | $ (97) | $ 0 |
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, 2014 | $ 240,135 | $ 174,385 | $ 128,512 | $ (19,998) | $ (42,764) |
Balance, shares at Dec. 31, 2014 | 49,239,004 | ||||
Net income | 3,686 | 3,686 | |||
Other comprehensive income | 3,890 | 3,890 | |||
Stock option exercises, net value | 16 | (54) | 70 | ||
Stock option exercises, net shares | 8,000 | ||||
Stock option expenses, net | 6 | $ 6 | |||
Restricted stock grants, value | $ (664) | (427) | 1,091 | ||
Restricted stock grants, shares | 125,026 | ||||
Restricted stock forfeitures, value | (32) | $ 6 | 14 | (52) | |
Restricted stock forfeitures, shares | (8,091) | ||||
Restricted stock expense | 190 | $ 190 | |||
Cash dividend payments | (493) | (493) | |||
Treasury stock purchases | (294) | (294) | |||
Treasury stock purchases, shares | (54,527) | ||||
Balance at Mar. 31, 2015 | 247,104 | $ 173,923 | 131,238 | (16,108) | (41,949) |
Balance, shares at Mar. 31, 2015 | 49,309,412 | ||||
Balance at Dec. 31, 2015 | 244,245 | $ 174,304 | 140,819 | (19,220) | (51,658) |
Balance, shares at Dec. 31, 2015 | 47,517,644 | ||||
Net income | 3,320 | 3,320 | |||
Other comprehensive income | 6,282 | 6,282 | |||
Stock option exercises, net value | $ 11 | (51) | 62 | ||
Stock option exercises, net shares | 8,000 | 8,000 | |||
Stock option expenses, net | $ 3 | $ 3 | |||
Restricted stock grants, value | $ (947) | (285) | 1,232 | ||
Restricted stock grants, shares | 159,238 | ||||
Restricted stock forfeitures, value | $ 3 | 7 | (10) | ||
Restricted stock forfeitures, shares | (1,014) | ||||
Restricted stock expense | 215 | $ 215 | |||
Purchase of James & Sons Insurance | 1,508 | (541) | 2,049 | ||
Purchase of James & Sons Insurance, shares | 262,705 | ||||
Cash dividend payments | (1,194) | (1,194) | |||
Treasury stock purchases | (2,586) | (2,586) | |||
Treasury stock purchases, shares | (440,047) | ||||
Balance at Mar. 31, 2016 | $ 251,804 | $ 173,578 | $ 142,075 | $ (12,938) | $ (50,911) |
Balance, shares at Mar. 31, 2016 | 47,506,526 |
CONSOLIDATED STATEMENTS OF SHAR
CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Unaudited) (Parenthetical) - $ / shares | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Statement Of Stockholders Equity [Abstract] | ||
Cash dividend payments, per share | $ 0.025 | $ 0.01 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Cash Flows from Operating Activities | ||
Net income | $ 3,320 | $ 3,686 |
Adjustments to reconcile net income to net cash provided by operating activities | ||
Provision (recovery) for loan losses | 2,155 | (184) |
Mortgage banking income | (579) | (992) |
Changes in fair value on loans held for sale | (804) | (561) |
Net losses on real estate owned and other repossessed assets sold | 13 | 90 |
Net gain on available for sale securities sold | (153) | (11) |
Net (gain) loss on other assets sold | (2) | |
Amortization of premiums and accretion of discounts | 1,848 | 76 |
Depreciation and amortization | 559 | 510 |
Net change in interest receivable | 195 | 555 |
Net change in interest payable | 57 | 34 |
Net change in prepaid and other assets | (629) | (987) |
Net change in other liabilities | (305) | 345 |
Stock based compensation | 218 | 147 |
Net principal disbursed on loans originated for sale | (51,429) | (55,885) |
Proceeds from sale of loans held for sale | 52,104 | 46,925 |
Net change in deferred tax assets | 1,437 | 3,765 |
Cash surrender value of life insurance | (365) | (332) |
Net change in interest rate caps | 3 | 54 |
Net cash from operating activities | 7,643 | (2,765) |
Cash Flows from Investing Activities | ||
Proceeds from the principal repayments and maturities of securities available for sale | 8,211 | 7,477 |
Proceeds from the principal repayments and maturities of securities held to maturity | 2,739 | |
Proceeds from the sale of securities available for sale | 18,134 | 5,153 |
Proceeds from the sale of real estate owned and other repossessed assets | 1,171 | 751 |
Proceeds from the sale of loans held for investment | 1 | |
Proceeds from the sale of premises and equipment | 2 | |
Purchases of premises and equipment | (467) | (290) |
Principal disbursed on loans, net of repayments | (36,809) | (19,110) |
Loans purchased | (8,681) | (1,304) |
Purchase of securities available for sale | (21,496) | |
Net cash received in acquisition | 43 | |
Net cash from investing activities | (37,152) | (7,323) |
Cash Flows from Financing Activities | ||
Net increase in checking, savings and money market accounts | 45,534 | 64,632 |
Net decrease in certificates of deposit | (14,663) | (5,724) |
Net decrease in advance payments by borrowers for taxes and insurance | (4,927) | (5,375) |
Net change in short-term FHLB advances | 12,000 | (34,000) |
Repayments of repurchase agreements and other borrowed funds | (6) | (6) |
Proceeds from the exercise of stock options | 11 | 16 |
Dividends paid | (1,194) | (493) |
Purchase of treasury stock | (2,586) | (277) |
Net cash from financing activities | 34,169 | 18,773 |
Change in cash and cash equivalents | 4,660 | 8,685 |
Cash and cash equivalents, beginning of period | 35,910 | 32,980 |
Cash and cash equivalents, end of period | $ 40,570 | $ 41,665 |
BASIS OF PRESENTATION
BASIS OF PRESENTATION | 3 Months Ended |
Mar. 31, 2016 | |
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, 31 retail banking offices and loan production centers located throughout Ohio, western Pennsylvania and West Virginia. On January 29, 2016, United Community acquired Forge Financial Services Inc. d/b/a James & Sons Insurance Company of Youngstown Ohio. James & Sons Insurance, a subsidiary of United Community, is engaged in the business of selling insurance including auto, commercial, homeowners and life-health insurance. 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 months ended March 31, 2016, are not necessarily indicative of the results to be expected for the year ending December 31, 2016. 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, 2015. The consolidated financial statements include the accounts of United Community and its subsidiaries. All material inter-company transactions have been eliminated. 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 | 3 Months Ended |
Mar. 31, 2016 | |
Accounting Changes And Error Corrections [Abstract] | |
RECENT ACCOUNTING DEVELOPMENTS | 2. RECENT ACCOUNTING DEVELOPMENTS In May 2014, FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606) In February 2015, the FASB issued ASU 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis. In January 2016, the FASB issued ASU 2016-1 , Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities. In February 2016, the FASB issued ASU 2016-02 - Leases (Topic 842) In March 2016, the FASB issued ASU 2016-09, Improvements to Employee Share-Based Payment Accounting, Compensation - Stock Compensation. |
STOCK COMPENSATION
STOCK COMPENSATION | 3 Months Ended |
Mar. 31, 2016 | |
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. There were no stock options granted in the three months ended March 31, 2016 and there were 2,192 stock options granted in the three months ended March 31, 2015. 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 $3,000 in stock option expense for the three months ended March 31, 2016. The Company recognized $6,000 in stock option expense for the three months ended March 31, 2015. The Company expects to recognize additional expense of $5,000 for the remainder of 2016, and $1,000 in 2017. A summary of activity in the plans is as follows: For the three months ended March 31, 2016 Weighted Aggregate average intrinsic value Shares exercise price (in thousands) Outstanding at beginning of year 572,323 $ 2.56 Granted — — Exercised (8,000 ) 1.48 Forfeited and expired (600 ) 2.10 Outstanding at end of period 563,723 2.58 $ 1,854 Options exercisable at end of period 551,775 2.53 $ 1,845 Information related to the stock option plans for the three months ended March 31, 2016 and 2015 follows: March 31, 2016 March 31, 2015 Intrinsic value of options exercised $ 33,920 $ 26,400 Cash received from option exercises 11,000 16,000 Tax benefit realized from option exercises — — Weighted average fair value of options granted, per share $ — $ 1.93 As of March 31, 2016, the cost of nonvested stock options is expected to be recognized over a weighted-average period of 1.25 years. The Company did not grant options during the three months ended March 31, 2016. The fair value of options granted during the three months ended March 31, 2015 was determined using the following weighted-average assumptions as of the grant date: Three months ended March 31, 2015 Risk-free interest rate 1.49 % Expected term (years) 5 Expected stock volatility 36.66 % Dividend yield 0.75 % Outstanding stock options at March 31, 2016 have a weighted average remaining life of 3.80 years and may be exercised in the range of $1.20 to $5.89. Restricted Stock Awards: The 2007 Plan permitted and the 2015 plan permits the issuance of restricted stock awards to employees and nonemployee directors. Nonvested shares at March 31, 2016 aggregated 370,510, of which 67,103 will vest during the remainder of 2016, 127,316 will vest in 2017, 97,224 will vest in 2018 and 78,867 will vest in 2019. 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 fair value of the shares at the grant date. The Company recognized approximately $215,000 and $190,000 in restricted stock award expenses for the three months ended March 31, 2016 and 2015, respectively. The Company expects to recognize additional expenses of approximately $667,000 in 2016, $549,000 in 2017, $383,000 in 2018 and $102,000 in 2019. The total average per share value of shares vested during the three months ended March 31, 2016 was $5.70. A summary of changes in the Company’s nonvested restricted shares for the three months ended March 31, 2016 is as follows: For the three months ended March 31, 2016 Weighted average grant date Shares fair value Nonvested at beginning of year 260,490 $ 4.68 Granted 159,238 $ 5.95 Vested (48,204 ) $ 4.74 Forfeited (1,014 ) $ 3.59 Nonvested shares at end of period 370,510 $ 5.22 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 and individual participant performance 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 vest equally over three years, beginning on the first anniversary of the date the restricted stock is issued. The Company incurred $76,000 in expense for the restricted stock portion of the EIP and $325,000 for the cash portion of the EIP for the three months ended March 31, 2016, respectively. The Company incurred $68,000 in expense for the restricted stock portion of the EIP and $168,000 for the cash portion of the EIP for the three months ended March 31, 2015, 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 $96,000 for the LTIP for the three months ended March 31, 2016. The Company incurred $48,000 in expense for the LTIP for the three months ended March 31, 2015. |
SECURITIES
SECURITIES | 3 Months Ended |
Mar. 31, 2016 | |
Investments Debt And Equity Securities [Abstract] | |
SECURITIES | 4. SECURITIES Components of the available for sale portfolio are as follows: March 31, 2016 Gross Gross Amortized unrealized unrealized Fair cost gains losses value (Dollars in thousands) Available for Sale U.S. Treasury and government sponsored entities' securities $ 208,369 $ 4,529 $ — $ 212,898 States of the U.S. and political subdivisions 35,294 463 (17 ) 35,740 Mortgage-backed GSE securities: residential 115,650 1,081 — 116,731 Total $ 359,313 $ 6,073 $ (17 ) $ 365,369 December 31, 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 $ 221,500 $ 159 $ (3,009 ) $ 218,650 States of the U.S. and political subdivisions 10,848 192 — 11,040 Mortgage-backed GSE securities: residential 129,155 55 (1,230 ) 127,980 Total $ 361,503 $ 406 $ (4,239 ) $ 357,670 Components of held to maturity securities portfolio are as follows: March 31, 2016 Gross Gross Amortized unrecognized unrecognized Fair cost gains losses value (Dollars in thousands) Held to maturity Mortgage-backed GSE securities: residential $ 97,467 $ 606 $ — $ 98,073 States of the U.S. and political subdivisions 10,371 258 — 10,629 Total $ 107,838 $ 864 $ — $ 108,702 December 31, 2015 Gross Gross Amortized unrecognized unrecognized Fair cost gains losses value (Dollars in thousands) Held to maturity Mortgage-backed GSE securities: residential $ 100,322 $ — $ (1,203 ) $ 99,119 States of the U.S. and political subdivisions 10,377 148 — 10,525 Total $ 110,699 $ 148 $ (1,203 ) $ 109,644 Debt securities available for sale by contractual maturity, repricing or expected call date are shown below: March 31, 2016 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 189,869 193,962 Due after ten years 53,794 54,676 Mortgage-backed GSE securities: residential 115,650 116,731 Total $ 359,313 $ 365,369 Debt securities held to maturity by contractual maturity, repricing or expected call date are shown below: March 31, 2016 Amortized cost Fair value (Dollars in thousands) Due in one year or less $ 1,100 $ 1,107 Due after one year through five years — — Due after five years through ten years 3,270 3,370 Due after ten years 6,001 6,152 Mortgage-backed GSE securities: residential 97,467 98,073 Total $ 107,838 $ 108,702 Securities pledged for public funds were approximately $138.5 million at March 31, 2016 and $107.1 million at December 31, 2015. 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: March 31, 2016 Less than 12 months 12 months or more Total Fair Unrealized loss Fair Unrealized Fair Unrealized value Loss value Loss value Loss (Dollars in thousands) Description of securities: U.S. Treasury and government sponsored entities $ — $ — $ — $ — $ — $ — States of the U.S. and political subdivisions 8,272 (17 ) — — 8,272 (17 ) Mortgage-backed GSE securities: residential — — — — — — Total temporarily impaired securities $ 8,272 $ (17 ) $ — $ — $ 8,272 $ (17 ) December 31, 2015 Less than 12 months 12 months or more Total Fair Unrealized loss Fair Unrealized Fair Unrealized value Loss value Loss value Loss (Dollars in thousands) Description of securities: U.S. Treasury and government sponsored entities $ 139,876 $ (1,654 ) $ 55,055 $ (1,355 ) $ 194,931 $ (3,009 ) Mortgage-backed GSE securities: residential 100,585 (842 ) 14,278 (388 ) 114,863 (1,230 ) Total temporarily impaired securities $ 240,461 $ (2,496 ) $ 69,333 $ (1,743 ) $ 309,794 $ (4,239 ) Securities held to maturity that have been in an unrecognized loss position for less than twelve months or twelve months or more are as follows: March 31, 2016 Less than 12 months 12 months or more Total Fair Unrealized loss Fair Unrealized Fair Unrealized value Loss value Loss value Loss (Dollars in thousands) Description of securities: Mortgage-backed GSE securities: residential $ — $ — $ 75,672 $ (860 ) $ 75,672 $ (860 ) States of the U.S. and political subdivisions — — — — — — Total temporarily impaired securities $ — $ — $ 75,672 $ (860 ) $ 75,672 $ (860 ) December 31, 2015 Less than 12 months 12 months or more Total Fair Unrealized loss Fair Unrealized Fair Unrealized value Loss value Loss value Loss (Dollars in thousands) Description of securities: Mortgage-backed GSE securities: residential $ 22,723 $ (289 ) $ 76,396 $ (2,390 ) $ 99,119 $ (2,679 ) States of the U.S. and political subdivisions — — — — — — Total temporarily impaired securities $ 22,723 $ (289 ) $ 76,396 $ (2,390 ) $ 99,119 $ (2,679 ) During the third quarter of 2015, Home Savings transferred securities with a total amortized cost of $105.3 million with a corresponding fair value of $103.8 million from available for sale to held to maturity. The net unrealized loss, net of taxes, on these securities at the date of transfer was $999,000. The fair value at the date of transfer becomes the securities’ new cost basis. The unrealized holding loss at the time of transfer continues to be reported in accumulated other comprehensive income, net of tax and is amortized over the remaining lives of the securities as an adjustment of the yield. The amortization of the unamortized holding loss reported in accumulated other comprehensive income will directly offset the effect on interest income from the accretion of the reduced amortized cost for the transferred securities. Because of this transfer, the total losses less than 12 months and greater than 12 months reported in the table above will not agree to the unrealized losses reported in the inventory of held to maturity securities. The inventory table reports unrealized gains and losses based upon the transferred securities adjusted cost basis and current fair value. The reporting of losses less than 12 months and greater than 12 months represents that actual period of time that these securities have been in an unrealized loss position and the securities amortized cost basis as if the transfer did not occur. All of the U.S. Treasury and government sponsored entities (GSE) securities that were temporarily impaired at March 31, 2016 and December 31, 2015, were impaired due to the level of interest rates at that time of purchase compared to current interest rates. Unrealized losses on these securities have not been recognized into income as of March 31, 2016 and December 31, 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. There is risk that longer term rates could rise further resulting in greater unrealized losses. 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 March 31, 2016 and December 31, 2015, 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 March 31, 2016 or December 31, 2015. The Company expects to realize all interest and principal on these securities. At March 31, 2016, all of the obligations of U.S. states and political subdivisions were temporarily impaired due to the level of interest rates at that time. Unrealized losses on these securities have not been recognized into income as of March 31, 2016 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 $18.1 million and $5.2 million for the three months ended March 31, 2016 and 2015, respectively. Gross gains of $153,000 and $11,000 were realized on these sales during the three months ended March 31, 2016 and 2015, respectively. Income tax expense related to net realized gains was $54,000 and $4,000 for the three months ended March 31, 2016 and 2015, respectively. |
LOANS
LOANS | 3 Months Ended |
Mar. 31, 2016 | |
Receivables [Abstract] | |
LOANS | 5. LOANS Portfolio loans consist of the following: March 31, December 31, 2016 2015 (Dollars in thousands) Commercial loans Multifamily $ 80,581 $ 80,170 Nonresidential 184,279 175,456 Land 8,938 9,301 Construction 49,858 38,812 Secured 79,074 63,182 Unsecured 4,182 2,831 Total commercial loans 406,912 369,752 Residential mortgage loans One-to four-family 741,401 733,685 Construction 38,994 40,898 Total residential mortgage loans 780,395 774,583 Consumer loans Home equity 158,933 161,338 Auto 13,752 11,348 Marine 2,603 2,699 Recreational vehicle 9,677 10,656 Other 2,358 2,217 Total consumer loans 187,323 188,258 Total loans 1,374,630 1,332,593 Less: Allowance for loan losses 16,903 17,712 Deferred loan costs, net (1,419 ) (1,311 ) Total 15,484 16,401 Loans, net $ 1,359,146 $ 1,316,192 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 March 31, 2016 and December 31, 2015 and activity for the three months ended March 31, 2016 and 2015. Allowance For Loan Losses Commercial Loans Residential Loans Consumer Loans Total (Dollars in thousands) For the three months ended March 31, 2016 Beginning balance $ 8,077 $ 6,630 $ 3,005 $ 17,712 Provision (recovery) 2,724 (594 ) 25 2,155 Charge-offs (2,346 ) (362 ) (479 ) (3,187 ) Recoveries 66 62 95 223 Ending balance $ 8,521 $ 5,736 $ 2,646 $ 16,903 March 31, 2016 Period-end amount allocated to: Loans individually evaluated for impairment $ 1,029 $ 1,407 $ 586 $ 3,022 Loans collectively evaluated for impairment 7,492 4,329 2,060 13,881 Ending balance $ 8,521 $ 5,736 $ 2,646 $ 16,903 Period-end balances: Loans individually evaluated for impairment $ 14,180 $ 18,791 $ 9,640 $ 42,611 Loans collectively evaluated for impairment 392,732 761,604 177,683 1,332,019 Ending balance $ 406,912 $ 780,395 $ 187,323 $ 1,374,630 Allowance For Loan Losses Commercial Loans Residential Loans Consumer Loans Total For the three months ended March 31, 2015 Beginning balance $ 5,690 $ 8,517 $ 3,480 $ 17,687 Provision (recovery) 158 (871 ) 529 (184 ) Charge-offs (15 ) (166 ) (531 ) (712 ) Recoveries 112 186 132 430 Ending balance $ 5,945 $ 7,666 $ 3,610 $ 17,221 December 31, 2015 Period-end amount allocated to: Loans individually evaluated for impairment $ 568 $ 1,541 $ 707 $ 2,816 Loans collectively evaluated for impairment 7,509 5,089 2,298 14,896 Ending balance $ 8,077 $ 6,630 $ 3,005 $ 17,712 Period-end balances: Loans individually evaluated for impairment $ 9,698 $ 19,348 $ 10,613 $ 39,659 Loans collectively evaluated for impairment 360,054 755,235 177,645 1,292,934 Ending balance $ 369,752 $ 774,583 $ 188,258 $ 1,332,593 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 recoveries. 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, economic cycles and other external factors. As of March 31, 2016, the Company evaluated 15 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 outstanding balance of homogenous loans. The following table presents loans individually evaluated for impairment by class of loans as of and for three months ended March 31, 2016: 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 $ 97 $ — $ — $ — $ — $ — Nonresidential 1,042 212 — 259 1 1 Land 3,922 384 — 384 — — Construction 3,593 — — — — — Secured 3,860 3,700 — 3,700 — — Unsecured 1,124 — — — — — Total commercial loans 13,638 4,296 — 4,343 1 1 Residential mortgage loans One-to four-family 7,875 6,081 — 5,974 20 14 Construction — — — — — — Total residential mortgage loans 7,875 6,081 — 5,974 20 14 Consumer loans Home equity 1,951 1,332 — 1,525 3 2 Auto 15 9 — 12 — — Marine 546 303 — 287 — — Recreational vehicle 534 289 — 184 1 1 Other 3 3 — 3 — — Total consumer loans 3,049 1,936 — 2,011 4 3 Total $ 24,562 $ 12,313 $ — $ 12,328 $ 25 $ 18 With a specific allowance recorded Commercial loans Multifamily $ — $ — $ — $ — $ — $ — Nonresidential 11,348 8,924 936 6,954 109 107 Land — — — — — — Construction — — — — — — Secured 1,054 960 93 642 — — Unsecured — — — — — — Total commercial loans 12,402 9,884 1,029 7,596 109 107 Residential mortgage loans One-to four-family 12,710 12,710 1,407 13,096 189 136 Construction — — — — — — Total residential mortgage loans 12,710 12,710 1,407 13,096 189 136 Consumer loans Home equity 6,857 6,857 497 7,047 110 90 Auto — — — — — — Marine 159 159 3 161 2 2 Recreational vehicle 688 688 86 905 7 7 Other — — — 4 — — Total consumer loans 7,704 7,704 586 8,117 119 99 Total 32,816 30,298 3,022 28,809 417 342 Total impaired loans $ 57,378 $ 42,611 $ 3,022 $ 41,137 $ 442 $ 360 The following tables present loans individually evaluated for impairment by class of loans as of and for three months ended March 31, 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 $ 197 $ 85 $ — $ 86 $ — $ — Nonresidential 4,258 2,450 — 3,880 1 1 Land 3,958 532 — 532 — — Construction 1,126 188 — 439 — — Secured 3,898 3,700 — 3,704 — — Unsecured 1,489 — — — — — Total commercial loans 14,926 6,955 — 8,641 1 1 Residential mortgage loans One-to four-family 6,134 4,649 — 5,341 18 10 Construction — — — — — — Total residential mortgage loans 6,134 4,649 — 5,341 18 10 Consumer loans Home equity 2,294 1,679 — 1,739 9 6 Auto 40 32 — 61 — — Marine 519 293 — 189 2 2 Recreational vehicle 97 69 — 181 1 1 Other — — — 3 — — Total consumer loans 2,950 2,073 — 2,173 12 9 Total $ 24,010 $ 13,677 $ — $ 16,155 $ 31 $ 20 With a specific allowance recorded Commercial loans Multifamily $ — $ — $ — $ 21 $ — $ — Nonresidential 6,550 6,367 586 3,644 37 37 Land — — — — — — Construction 2,815 863 93 1,338 — — Secured 324 324 3 324 — — Unsecured — — — — — — Total commercial loans 9,689 7,554 682 5,327 37 37 Residential mortgage loans One-to four-family 14,595 14,595 1,707 14,630 228 138 Construction — — — — — — Total residential mortgage loans 14,595 14,595 1,707 14,630 228 138 Consumer loans Home equity 9,256 9,256 687 9,662 169 114 Auto 5 5 — 7 — — Marine — — — — — — Recreational vehicle 716 716 117 737 13 6 Other — — — — — — Total consumer loans 9,977 9,977 804 10,406 182 120 Total 34,261 32,126 3,193 30,363 447 295 Total impaired loans $ 58,271 $ 45,803 $ 3,193 $ 46,518 $ 478 $ 315 The following table present loans individually evaluated for impairment by class of loans as of December 31, 2015: Impaired Loans (Dollars in thousands) Unpaid Principal Balance Recorded Investment Allowance for Loan Losses Allocated With no specific allowance recorded Commercial loans Multifamily $ 165 $ — $ — Nonresidential 1,215 306 — Land 3,922 384 — Construction 3,593 — — Secured 3,884 3,700 — Unsecured 1,132 — — Total commercial loans 13,911 4,390 — Residential mortgage loans One-to four-family 7,607 5,866 — Construction — — — Total residential mortgage loans 7,607 5,866 — Consumer loans Home equity 2,245 1,718 — Auto 20 14 — Marine 496 271 — Recreational vehicle 121 78 — Other 3 3 — Total consumer loans 2,885 2,084 — Total $ 24,403 $ 12,340 $ — With a specific allowance recorded Commercial loans Multifamily $ — $ — $ — Nonresidential 5,164 4,984 565 Land — — — Construction — — — Secured 324 324 3 Unsecured — — — Total commercial loans 5,488 5,308 568 Residential mortgage loans One-to four-family 13,482 13,482 1,541 Construction — — — Total residential mortgage loans 13,482 13,482 1,541 Consumer loans Home equity 7,236 7,236 522 Auto — — — Marine 163 163 3 Recreational vehicle 1,122 1,122 181 Other 8 8 1 Total consumer loans 8,529 8,529 707 Total 27,499 27,319 2,816 Total impaired loans $ 51,902 $ 39,659 $ 2,816 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. Within secured and nonresidential impaired loans, there are two related credits with a total principal balance outstanding of $7.0 million. The source of repayment for the loan resides in funds held in escrow by a court that has administered foreclosure and receivership proceedings surrounding the loan. The loan has been subject to protracted litigation and a reserve of $546,000 was placed on one of the loans during 2015. 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 March 31, 2016 and December 31, 2015, but legal title, deed in lieu of foreclosure or similar legal agreement to the property has not yet been obtained: March 31, 2016 December 31, 2015 Unpaid Principal Balance Recorded Investment Unpaid Principal Balance Recorded Investment (Dollars in thousands) (Dollars in thousands) Mortgage loans in process of foreclosure $ 2,690 $ 2,360 $ 1,294 $ 1,162 Consumer loans in process of foreclosure 1,036 799 845 643 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 March 31, 2016: Nonaccrual Loans and Loans Past Due Over 90 Days and Still Accruing As of March 31, 2016 Nonaccrual Loans past due over 90 days and still accruing (Dollars in thousands) Commercial loans Multifamily $ — $ — Nonresidential 7,557 — Land 384 — Construction — — Secured 4,652 — Unsecured — — Total commercial loans 12,593 — Residential mortgage loans One-to four-family 5,312 — Construction — — Total residential mortgage loans 5,312 — Consumer Loans Home equity 1,635 — Auto 28 — Marine 249 — Recreational vehicle 285 — Other 3 — Total consumer loans 2,200 — Total nonaccrual loans and loans past due over 90 days and still accruing $ 20,105 $ — 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, 2015: Nonaccrual Loans and Loans Past Due Over 90 Days and Still Accruing As of December 31, 2015 Nonaccrual Loans past due over 90 days and still accruing (Dollars in thousands) Commercial loans Multifamily $ — $ — Nonresidential 3,599 — Land 384 — Construction — — Secured 4,016 — Unsecured — — Total commercial loans 7,999 — Residential mortgage loans One-to four-family 6,181 — Construction — — Total residential mortgage loans 6,181 — Consumer Loans Home equity 1,804 — Auto 23 — Marine 218 — Recreational vehicle 511 — Other 11 — Total consumer loans 2,567 — Total nonaccrual loans and loans past due over 90 days and still accruing $ 16,747 $ — The following table presents an age analysis of past-due loans, segregated by class of loans as of March 31, 2016: 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 $ — $ — $ — $ — $ 80,581 $ 80,581 Nonresidential 29 9 3,504 3,542 180,737 184,279 Land — — 384 384 8,554 8,938 Construction — — — — 49,858 49,858 Secured — — 4,652 4,652 74,422 79,074 Unsecured — — — — 4,182 4,182 Total commercial loans 29 9 8,540 8,578 398,334 406,912 Residential mortgage loans One-to four-family 2,346 1,449 5,069 8,864 732,537 741,401 Construction — — — — 38,994 38,994 Total residential mortgage loans 2,346 1,449 5,069 8,864 771,531 780,395 Consumer Loans: Home equity 511 380 1,631 2,522 156,411 158,933 Automobile 3 — 26 29 13,723 13,752 Marine 163 — 109 272 2,331 2,603 Recreational vehicle 115 5 285 405 9,272 9,677 Other 3 4 3 10 2,348 2,358 Total consumer loans 795 389 2,054 3,238 184,085 187,323 Total loans $ 3,170 $ 1,847 $ 15,663 $ 20,680 $ 1,353,950 $ 1,374,630 The following table presents an age analysis of past-due loans, segregated by class of loans as of December 31, 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 $ — $ — $ — $ — $ 80,170 $ 80,170 Nonresidential — — 3,558 3,558 171,898 175,456 Land — — 384 384 8,917 9,301 Construction — — — — 38,812 38,812 Secured 488 — 4,016 4,504 58,678 63,182 Unsecured — — — — 2,831 2,831 Total commercial loans 488 — 7,958 8,446 361,306 369,752 Residential mortgage loans One-to four-family 3,843 635 5,901 10,379 723,306 733,685 Construction — — — — 40,898 40,898 Total residential mortgage loans 3,843 635 5,901 10,379 764,204 774,583 Consumer Loans: Home equity 961 268 1,788 3,017 158,321 161,338 Automobile 5 — 10 15 11,333 11,348 Marine — 51 117 168 2,531 2,699 Recreational vehicle 71 — 494 565 10,091 10,656 Other 15 1 11 27 2,190 2,217 Total consumer loans 1,052 320 2,420 3,792 184,466 188,258 Total loans $ 5,383 $ 955 $ 16,279 $ 22,617 $ 1,309,976 $ 1,332,593 As of March 31, 2016 and December 31, 2015, the Company has a recorded investment in troubled debt restructurings of $25.5 million and $26.3 million, respectively. The Company has allocated $2.0 million and $2.3 million of specific allowance for those loans at March 31, 2016 and December 31, 2015, respectively. The Company has committed to lend additional amounts totaling up to $23,000 and $42,000 at March 31, 2016 and December 31, 2015, respectively. The following table presents loans by class modified as troubled debt restructurings that occurred during the three months ended March 31, 2016: Number of Loans Pre-Modification Outstanding Recorded Investment Post-Modification Recorded Investment (In thousands) Commercial loans Multifamily — $ — $ — Nonresidential 1 88 88 Land — — — Construction — — — Secured — — — Unsecured — — — Total commercial loans 1 88 88 Residential mortgage loans One-to four-family 2 219 237 Construction — — — Total residential mortgage loans 2 219 237 Consumer loans Home equity 1 20 20 Auto — — — Marine — — — Recreational vehicle — — — Other — — — Total consumer loans 1 20 20 Total restructured loans 4 $ 327 $ 345 The troubled debt restructurings described above increased the allowance for loan losses by $5,000 and resulted in $30,000 in charge-offs during the three months ended March 31, 2016. The following table presents loans by class modified as troubled debt restructurings that occurred during the three months ended March 31, 2015: 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 5 441 454 Construction — — — Total residential mortgage loans 5 441 454 Consumer loans Home equity 2 354 354 Auto — — — Marine — — — Recreational vehicle — — — Other — — — Total consumer loans 2 354 354 Total restructured loans 7 $ 795 $ 808 The troubled debt restructurings described above increased the allowance for loan losses by $58,000, and resulted in no chargeoffs during the three months ended March 31, 2015. 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 period ended March 31, 2016: 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 25 Construction — — Total residential mortgage loans 2 25 Consumer loans Home equity — — Auto — — Marine — — Recreational vehicle — — Other — — Total consumer loans — — Total restructured loans 2 $ 25 The troubled debt restructurings that subsequently defaulted described above resulted in $3,000 in charge-offs during the three months ended March 31, 2016, 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 period ended March 31, 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 2 217 Construction — — Total residential mortgage loans 2 217 Consumer loans Home equity 1 15 Auto — — Marine — — Recreational vehicle — — Other — — Total consumer loans 1 15 Total restructured loans 3 $ 232 The troubled debt restructurings that subsequently defaulted described above resulted in no charge-offs during the three months ended March 31, 2015, 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 March 31, 2016 and December 31, 2015, and based on the most recent analysis performed, the risk category of loans by class of loans is as follows: Loans March 31, 2016 (Dollars in thousands) Unclassified Classified Unclassified Special Mention Substandard Doubtful Loss Total Classified Total Loans Commercial Loans Multifamily $ 76,001 $ 3,685 $ 895 $ — $ — $ 895 $ 80,581 Nonresidential 164,085 2,416 17,778 — — 17,778 184,279 Land 8,554 — 384 — — 384 8,938 Construction 49,858 — — — — — 49,858 Secured 68,611 22 10,441 — — 10,441 79,074 Unsecured 4,081 — 101 — — 101 4,182 Total commercial loans 371,190 6,123 29,599 — — 29,599 406,912 Residential mortgage loans One-to four-family 735,464 107 5,830 — — 5,830 741,401 Construction 38,994 — — — — — 38,994 Total residential mortgage loans 774,458 107 5,830 — — 5,830 780,395 Consumer Loans Home equity 157,121 — 1,812 — — 1,812 158,933 Auto 13,719 2 31 — — 31 13,752 Marine 2,300 — 303 — — 303 2,603 Recreational vehicle 9,385 — 292 — — 292 9,677 Other 2,355 — 3 — — 3 2,358 Total consumer loans 184,880 2 2,441 — — 2,441 187,323 Total loans $ 1,330,528 $ 6,232 $ 37,870 $ — $ — $ 37,870 $ 1,374,630 Loans December 31, 2015 (Dollars in thousands) Unclassified Classified Unclassified Special Mention Substandard Doubtful Loss Total Classified Total Loans Commercial Loans Multifamily $ 75,535 $ 3,727 $ 908 $ — $ — $ 908 $ 80,170 Nonresidential 151,415 4,121 19,920 — — 19,920 175,456 Land 8,917 — 384 — — 384 9,301 Construction 38,812 — — — — — 38,812 Secured 53,801 3,037 6,344 — — 6,344 63,182 Unsecured 2,728 — 103 — — 103 2,831 Total commercial loans 331,208 10,885 27,659 — — 27,659 369,752 Residential mortgage loans One-to four-family 726,922 111 6,652 — — 6,652 733,685 Construction 40,898 — — — — — 40,898 Total residential mortgage loans 767,820 111 6,652 — — 6,652 774,583 Consumer Loans Home equity 159,371 — 1,967 — — 1,967 161,338 Auto 11,304 2 42 — — 42 11,348 Marine 2,428 — 271 — — 271 2,699 Recreational vehicle 10,157 — 499 — — 499 10,656 Other 2,206 — 11 — — 11 2,217 Total consumer loans 185,466 2 2,790 — — 2,790 188,258 Total loans $ 1,284,494 $ 10,998 $ 37,101 $ — $ — $ 37,101 $ 1,332,593 |
MORTGAGE BANKING ACTIVITIES
MORTGAGE BANKING ACTIVITIES | 3 Months Ended |
Mar. 31, 2016 | |
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 March 31, 2016 and December 31, 2015. 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: March 31, 2016 December 31, 2015 (Dollars in thousands) Mortgage loan portfolios serviced for: FHLMC $ 896,553 $ 878,300 FNMA 228,074 233,026 Customer escrow balances with loans serviced for FHLMC and FNMA totaled $12.0 and $13.2 million at March 31, 2016 and December 31, 2015, respectively. Activity for capitalized mortgage servicing rights, included in other assets, was as follows: For the Three Months Ended March 31, 2016 2015 (Dollars in thousands) Balance, beginning of period $ 5,686 $ 5,535 Originations 509 451 Amortized to expense (468 ) (443 ) Balance, end of period 5,727 5,543 Less valuation allowance (474 ) (219 ) Net balance $ 5,253 $ 5,324 Activity in the valuation allowance for mortgage servicing rights was as follows: For the Three Months Ended March 31, 2016 2015 (Dollars in thousands) Balance, beginning of period $ (39 ) $ (58 ) Impairment charges (435 ) (161 ) Recoveries — — Balance, end of period $ (474 ) $ (219 ) The fair value of mortgage servicing rights as of March 31, 2016, was approximately $8.0 million and at December 31, 2015, the fair value was approximately $9.1 million. Key economic assumptions in measuring the value of mortgage servicing rights at March 31, 2016, and December 31, 2015, were as follows: March 31, 2016 December 31, 2015 Weighted average prepayment rate 252 PSA 192 PSA Weighted average life (in years) 3.43 3.47 Weighted average discount rate 9.00% 9.00% |
OTHER REAL ESTATE OWNED AND OTH
OTHER REAL ESTATE OWNED AND OTHER REPOSSESSED ASSETS | 3 Months Ended |
Mar. 31, 2016 | |
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 March 31, 2016 and December 31, 2015 were as follows: March 31, 2016 December 31, 2015 (Dollars in thousands) Real estate owned and other repossessed assets $ 2,970 $ 3,956 Valuation allowance (1,124 ) (1,229 ) End of period $ 1,846 $ 2,727 Activity in the valuation allowance was as follows: Three Months Ended March 31, 2016 March 31, 2015 (Dollars in thousands) Beginning of period $ 1,229 $ 1,423 Additions charged to expense 1 80 Reductions due to sales (106 ) (259 ) End of period $ 1,124 $ 1,244 Expenses related to foreclosed and repossessed assets include: Three Months Ended March 31, 2016 March 31, 2015 (Dollars in thousands) Net (gain) loss on sales $ 12 $ 10 Provision for unrealized losses, net 1 80 Operating expenses, net of rental income 72 141 Total expenses $ 85 $ 231 |
FAIR VALUE MEASUREMENT
FAIR VALUE MEASUREMENT | 3 Months Ended |
Mar. 31, 2016 | |
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. 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). The Company elected the fair value option for all residential mortgage loans held for sale originated on or after March 1, 2016. The fair value of the Company’s residential mortgage loans held for sale was determined based on quoted prices for similar loans in active markets (Level 2). 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 March 31, 2016 Using: Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable March 31, Assets Inputs Inputs 2016 (Level 1) (Level 2) (Level 3) (Dollars in thousands) Assets: Available for sale securities U.S. Treasury and government sponsored entities' securities $ 212,898 $ — $ 212,898 $ — States of the U.S. and political subdivisions 35,740 — 35,740 Mortgage-backed GSE securities: residential 116,731 — 116,731 — Loans held for sale, at fair value 32,007 — 5,247 26,760 Interest rate caps — — — — Purchased certificate of deposit option 913 — 913 — Liabilities Written certificate of deposit option 913 — 913 — Fair Value Measurements at December 31, 2015 Using: Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable December 31, 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 $ 218,650 $ — $ 218,650 $ — States of the U.S. and political subdivisions 11,040 — 11,040 Mortgage-backed GSE securities: residential 127,980 — 127,980 — Loans held for sale, at fair value 26,716 — — 26,716 Interest rate caps 3 — — 3 Purchased certificate of deposit option 805 — 805 — Liabilities Written certificate of deposit option 805 — 805 — There were no transfers between Level 1 and Level 2 during 2016 or 2015. 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 months ended March 31, 2016 and 2015. Loans Held for Sale, At Fair Value For the Three Months Ended March 31, 2016 2015 (Dollars in thousands) Balance of recurring Level 3 assets at beginning of period $ 26,716 $ — Total gains (losses) for the period Included in change in fair value of loans held for sale 669 561 Included in other comprehensive income — — Originations/Draws on construction perm loans 16,687 1,047 Amortization — — Sales (17,312 ) — Balance of recurring Level 3 assets at end of period $ 26,760 $ 1,608 Interest Rate Caps For the Three Months Ended March 31, 2016 2015 (Dollars in thousands) Balance of recurring Level 3 assets at beginning of period $ 3 $ 180 Total gains (losses) for the period Included in other income 127 75 Included in other comprehensive income — — Purchases — — Amortization (130 ) (129 ) Sales — — Balance of recurring Level 3 assets at end of period $ — $ 126 There were no transfers between Level 2 and Level 3 during 2016 or 2015. The following table presents quantitative information about recurring Level 3 fair value measurements at March 31, 2016: Valuation Unobservable Fair Value Technique(s) Input(s) Range Loans held for sale, at fair value $ 26,760 Comparable sales Time discount 0.00-1.80% Interest rate caps — 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, 2015: Valuation Unobservable Fair Value Technique(s) Input(s) Range Loans held for sale, at fair value $ 26,716 Comparable sales Time discount 0.00-1.80% Interest rate caps 3 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 March 31, 2016 Using: Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable March 31, Assets Inputs Inputs 2016 (Level 1) (Level 2) (Level 3) (Dollars in thousands) Assets: Impaired loans: Commercial loans Nonresidential $ 6,458 $ — $ — $ 6,458 Secured 546 — — 546 Residential loans One-to four-family residential 867 — — 867 Consumer loans Home Equity 3 — — 3 Auto 4 — — 4 Marine 163 — — 163 Recreational vehicle 213 — — 213 Mortgage servicing rights 2,704 — 2,704 — Other real estate owned, net Commercial loans Construction loans 785 — — 785 Nonresidential loans 175 — — 175 Residential loans One-to four-family residential 344 — — 344 Fair Value Measurements at December 31, 2015 Using: Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable December 31, Assets Inputs Inputs 2015 (Level 1) (Level 2) (Level 3) (Dollars in thousands) Assets: Impaired loans: Commercial loans Nonresidential $ 2,857 $ — $ — $ 2,857 Land 175 — — 175 Residential loans One-to four-family residential 1,493 — — 1,493 Consumer loans Home Equity 392 — — 392 Auto 1 — — 1 Mortgage servicing rights 604 — 604 — Other real estate owned, net Commercial loans Construction loans 785 — — 785 Nonresidential loans 175 — — 175 Residential loans One-to four-family residential 1,088 — — 1,088 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 $8.3 million at March 31, 2016, that includes a specific valuation allowance of $1.0 million. This resulted in an increase of the provision for loan losses of $3.0 million during the three months ended March 31, 2016. 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 $4.5 million at March 31, 2015, which includes a specific valuation allowance of $678,000. This resulted in a decrease in the provision for loan losses of $35,000 for the three months ended March 31, 2015. 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 $4.9 million at December 31, 2015, that includes a specific valuation allowance of $548,000. 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 March 31, 2016, mortgage servicing rights carried at fair value were $2.7 million, resulting in a net valuation allowance of $474,000 at March 31, 2016. At March 31, 2015, mortgage servicing rights, carried at fair value totaled $1.5 million, resulting in a net valuation allowance of $219,000. At December 31, 2015, mortgage servicing rights carried at fair value were $604,000. 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 $435,000 for the three months ended March 31, 2016. Net impairment reflected in other income totaled $161,000 for the three months ended March 31, 2015. The value reflects the characteristics of the underlying loans. At March 31, 2016, other real estate owned, carried at fair value, which is measured for impairment using the fair value of the property less estimated selling costs, and had a net carrying amount of $1.3 million, with a valuation allowance of $1.1 million. This resulted in additional expenses of $1,000 during the three months ended March 31, 2016. At March 31, 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, and had a net carrying amount of $2.9 million with a valuation allowance of $1.2 million. This resulted in additional expenses of $80,000 during the three months ended March 31, 2015. At December 31, 2015, other real estate owned had a net carrying amount of $2.0 million, with a valuation allowance of $1.2 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 March 31, 2016: Fair Value Valuation Technique(s) Unobservable Input(s) Range (Weighted Average) Impaired loans: Commercial loans Nonresidential $ 6,458 Sales comparison approach Adjustment for differences between comparable sales 0.00%-35.00% (14.14%) Secured 546 Sales comparison approach Adjustment for differences between comparable sales 0.00%-27.47% (13.74%) Residential loans One-to four-family residential 867 Sales comparison approach Adjustment for differences between comparable sales 0.00%-10.77% (4.27%) Consumer loans Home Equity 3 Sales comparison approach Adjustment for differences between comparable sales 0.00%-17.85% (8.93%) Auto 4 Sales comparison approach Adjustment for differences between comparable sales 0.00%-10.00% (10.00%) Marine 163 Sales comparison approach Adjustment for differences between comparable sales 0.00%-37.00% (37.00%) Recreational vehicle 213 Sales comparison approach Adjustment for differences between comparable sales 0.00%-37.00% (37.00%) Other real estate owned, net Commercial loans Construction loans 785 Sales comparison approach Adjustment for differences between comparable sales 0.00%-50.00% (21.71%) Nonresidential loans 175 Sales comparison approach Adjustment for differences between comparable sales 40.00%-60.00% (50.00%) Residential loans One-to four-family residential 344 Sales comparison approach Adjustment for differences between comparable sales 0.00%-40.50% (15.51%) 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, 2015: Fair Value Valuation Technique(s) Unobservable Input(s) Range (Weighted Average) Impaired loans: Commercial loans Nonresidential $ 2,857 Sales comparison approach Adjustment for differences between comparable sales 9.19%-12.38% (10.79%) Land 175 Sales comparison approach Adjustment for differences between comparable sales 0.00%-27.47% (13.74%) Residential loans One-to four-family residential 1,493 Sales comparison approach Adjustment for differences between comparable sales 0.00%-10.77% (4.27%) Consumer loans Home Equity 392 Sales comparison approach Adjustment for differences between comparable sales 0.00%-17.85% (8.93%) Other real estate owned: Commercial loans Construction loans 785 Sales comparison approach Adjustment for differences between comparable sales 0.00%-50.00% (21.71%) Nonresidential loans 175 Sales comparison approach Adjustment for differences between comparable sales 40.00%-60.00% (50.00%) Residential loans One-to four-family residential 1,088 Sales comparison approach Adjustment for differences between comparable sales 0.00%-40.50% (15.51%) Auto loans were excluded from the table above as their value is considered immaterial. The Company has elected the fair value option for newly originated residential mortgage and 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 March 31, 2016. March 31, 2016 December 31, 2015 (Dollars in thousands) Aggregate fair value $ 32,007 $ 26,716 Contractual balance 29,684 25,197 Gain (loss) 2,323 1,519 The total amount of gains and losses from changes in fair value included in earnings for the three months ended March 31, 2016 for loans held for sale, at fair value were: For the Three Months Ended March 31, 2016 March 31, 2015 (Dollars in thousands) Interest income $ — $ — Interest expense — — Change in fair value 803 561 Total change in fair value $ 803 $ 561 In accordance with U.S. GAAP, the carrying value and estimated fair values of financial instruments at March 31, 2016 and December 31, 2015, were as follows: Fair Value Measurements at March 31, 2016 Using: March 31, 2016 Carrying Value (Level 1) (Level 2) (Level 3) (Dollars in thousands) Assets: Cash and cash equivalents $ 40,570 $ 40,570 $ — $ — Available for sale securities 365,369 — 365,369 — Held to maturity securities 107,838 — 107,595 1,107 Loans held for sale 3,991 — 4,079 — Loans held for sale, at fair value 32,007 — 5,247 26,760 Loans, net 1,359,146 — — 1,365,391 FHLB stock 18,068 n/a n/a n/a Accrued interest receivable 5,783 — 2,095 3,688 Interest rate caps — — — — Purchased certificate of deposit option 913 — 913 — Liabilities: Deposits: Checking, savings and money market accounts (1,026,318 ) (1,026,318 ) — — Certificates of deposit (440,296 ) — (444,173 ) — FHLB advances (291,170 ) — (291,070 ) — Repurchase agreements and other (529 ) — (540 ) — Advance payments by borrowers for taxes and insurance (16,247 ) (16,247 ) — — Accrued interest payable (110 ) — (110 ) — Written certificate of deposit option (913 ) — (913 ) — Fair Value Measurements at December 31, 2015 Using: December 31, 2015 Carrying Value (Level 1) (Level 2) (Level 3) (Dollars in thousands) Assets: Cash and cash equivalents $ 35,910 $ 35,910 $ — $ — Available for sale securities 357,670 — 357,670 — Held to maturity securities 110,699 — 108,536 1,108 Loans held for sale 9,085 — 9,207 — Loans held for sale, at fair value 26,716 — — 26,716 Loans, net 1,316,192 — — 1,322,338 FHLB stock 18,068 n/a n/a n/a Accrued interest receivable 5,978 — 2,276 3,702 Interest rate caps 3 — — 3 Purchased certificate of deposit option 805 — 805 — Liabilities: Deposits: Checking, savings and money market accounts (980,783 ) (980,783 ) — — Certificates of deposit (454,960 ) — (459,433 ) — FHLB advances (278,975 ) — (279,053 ) — Repurchase agreements and other (535 ) — (548 ) — Advance payments by borrowers for taxes and insurance (21,174 ) (21,174 ) — — Accrued interest payable (53 ) — (53 ) — Written certificate of deposit option (805 ) — (805 ) — 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) Held to maturity securities Fair values for held to maturity securities are based on quoted market prices, where available. If quoted market prices are not available, fair values are based on quoted market prices of comparable instruments. For securities where quoted prices or market prices of similar securities are not available, fair values are calculated using discounted cash flows. (d) 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. (e) 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. (f) 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. (g) 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. (h) 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 | 3 Months Ended |
Mar. 31, 2016 | |
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 Three Months Ended March 31, 2016 2015 (Dollars in thousands) Supplemental disclosures of cash flow information Cash paid during the period for: Interest on deposits and borrowings $ 2,090 $ 2,120 Supplemental schedule of noncash activities: Transfers from loans to real estate owned and other repossessed assets 303 493 |
EARNINGS PER SHARE
EARNINGS PER SHARE | 3 Months Ended |
Mar. 31, 2016 | |
Earnings Per Share [Abstract] | |
EARNINGS PER SHARE | 10. 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 71,891 shares were anti-dilutive for the three months ended March 31, 2016 and stock options for 74,083 shares were anti-dilutive for the three months ended March 31, 2015. For the Three Months Ended March 31, 2016 2015 (Dollars in thousands, except per share data) Net income per consolidated statements of income $ 3,320 $ 3,686 Net income allocated to participating securities (22 ) (21 ) Net income allocated to common stock $ 3,298 $ 3,665 Basic earnings per common share computation: Distributed earnings allocated to common stock $ 1,188 $ 493 Undistributed earnings allocated to common stock 2,110 3,172 Net income allocated to common stock $ 3,298 $ 3,665 Weighted average common shares outstanding, including shares considered participating securities 47,587 49,291 Less: Average participating securities (315 ) (269 ) Weighted average shares 47,272 49,022 Basic earnings per common share $ 0.07 $ 0.07 Diluted earnings per common share computation: Net income allocated to common stock $ 3,298 $ 3,665 Weighted average common shares outstanding for basic earnings per common share 47,272 49,022 Add: Dilutive effects of assumed exercises of stock options 279 273 Weighted average shares and dilutive potential common shares 47,551 49,295 Diluted earnings per common share $ 0.07 $ 0.07 |
OTHER COMPREHENSIVE INCOME (LOS
OTHER COMPREHENSIVE INCOME (LOSS) | 3 Months Ended |
Mar. 31, 2016 | |
Equity [Abstract] | |
OTHER COMPREHENSIVE INCOME (LOSS) | 11. 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 $153,000 and $11,000 for the three months ended March 31, 2016 and 2015, respectively. Reclassifications also include amortization of unrealized gains on postretirement plan and accretion of unrealized loss on held to maturity securities. Other comprehensive income (loss) components and related tax effects for the three-month periods are as follows: Unrealized Gains (Losses) on Securities Available Sale Disproportionate Tax Effect from Securities Available for Sale Losses on Securities Transferred From Available for Sale to Held to Maturity Unrealized Gains (Losses) from Postretirement Plan Disproportionate Tax Effect from Postretirement Plan Total March 31, 2016 (Dollars in thousands) Balances at beginning of period, net of tax $ (2,492 ) $ (17,110 ) $ (960 ) $ 831 $ 511 $ (19,220 ) Other comprehensive income before reclassifications 6,528 — — — — 6,528 Amortization of unrealized gains of postretirement plan recognized in other comprehensive income — — — (181 ) — (181 ) Accretion of unrealized losses of securities transferred from available for sale to held to maturity recognized in other comprehensive income — — 34 — — 34 Reclassification adjustment for gains realized in income (99 ) — — — — (99 ) Net current period other comprehensive income 6,429 — 34 (181 ) — 6,282 Balances at end of period, net of tax $ 3,937 $ (17,110 ) $ (926 ) $ 650 $ 511 $ (12,938 ) 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 March 31, 2015 (Dollars in thousands) Balances at beginning of period, net of tax $ (4,315 ) $ (17,110 ) $ 916 $ 511 $ (19,998 ) Other comprehensive income before reclassifications 3,897 — — — 3,897 Reclassification adjustment for gains realized in income (7 ) — — — (7 ) Net current period other comprehensive income 3,890 — — — 3,890 Balances at end of period, net of tax $ (425 ) $ (17,110 ) $ 916 $ 511 $ (16,108 ) 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 March 31, 2016: 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 $ (153 ) Net gains 54 Tax expense (99 ) Net of tax Amortization of postretirement benefits prior service costs (278 ) Reduction in salaries and employee benefits 97 Tax expense (181 ) Net of tax Total reclassification during the period $ (280 ) Increase to net income The following is significant amounts reclassified out of each component of accumulated comprehensive income (loss) for the three months ended March 31, 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, increase to net income |
REGULATORY CAPITAL REQUIREMENTS
REGULATORY CAPITAL REQUIREMENTS | 3 Months Ended |
Mar. 31, 2016 | |
Banking And Thrift [Abstract] | |
REGULATORY CAPITAL REQUIREMENTS | 12. REGULATORY CAPITAL REQUIREMENTS Home Savings and United Community are subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possible additional discretionary actions by regulators that, if undertaken, could have a direct material effect on Home Savings and United Community. The regulations require Home Savings to meet specific capital adequacy guidelines in keeping with the regulatory framework for prompt corrective action that involve quantitative measures of Home Savings’ assets, liabilities, and certain off balance sheet items as calculated under regulatory accounting practices. Home Savings’ capital classification is also subject to qualitative judgments by the regulators about components of capital, risk weightings, and other factors. The Basel III Capital Rules establish a common equity Tier 1 minimum capital requirement (4.5% of risk-weighted assets), a minimum Tier 1 capital to risk-based assets requirement (6% of risk-weighted assets) and assigns a 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 rules also require 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 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 capital conservation buffer for 2016 is 0.625%. The final rule also implemented consolidated capital requirements. 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. 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. March 31, 2016 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) $ 245,669 18.39 % $ 115,224 8.625 % $ 133,594 10.00 % Tier 1 capital (to risk-weighted assets) 228,894 17.13 % 88,506 6.625 % 106,875 8.00 % Common equity Tier 1 capital (to risk-weighted assets) 228,894 17.13 % 68,467 5.125 % 86,836 6.50 % Tier 1 capital (to average assets)** 228,894 11.53 % 79,427 4.000 % 99,284 5.00 % December 31, 2015 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 capital (to risk-weighted assets) $ 240,697 18.72 % $ 102,879 8.00 % $ 128,599 10.00 % Tier 1 capital (to risk-weighted assets) 224,486 17.46 % 77,159 6.00 % 102,879 8.00 % Common equity Tier 1 capital (to risk-weighted assets) 224,486 17.46 % 57,869 4.50 % 83,589 6.50 % Tier 1 capital (to average assets)** 224,486 11.46 % 78,347 4.00 % 97,934 5.00 % ** Tier 1 Leverage Capital Ratio Management believes that as of March 31, 2016 and December 31, 2015, Home Savings meets all capital adequacy requirements to which they were subject. As of March 31, 2016 and December 31, 2015, Home Savings was considered well capitalized. The components of Home Savings’ regulatory capital are as follows: March 31, 2016 December 31, 2015 Total shareholders' equity $ 230,771 $ 220,872 Add (deduct) Accumulated other comprehensive income 12,954 19,236 Intangible assets (10 ) (12 ) Disallowed deferred tax assets (14,821 ) (15,610 ) Disallowed capitalized mortgage loan servicing rights — — Tier 1 Capital 228,894 224,486 Allowance for loan losses and allowance for unfunded lending commitments limited to 1.25% of total risk-weighted assets 16,775 16,211 Total risk-based capital $ 245,669 $ 240,697 Actual and regulatory required consolidated capital ratios for United Community, along with the dollar amount of capital implied by such ratios, are presented below. March 31, 2016 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) $ 264,236 19.81 % $ 115,024 8.625 % $ 133,361 10.00 % Tier 1 capital (to risk-weighted assets) 247,478 18.56 % 88,351 6.625 % 106,689 8.00 % Common equity Tier 1 capital (to risk-weighted assets) 247,478 18.56 % 68,347 5.125 % 86,684 6.50 % Tier 1 capital (to average assets)** 247,478 12.46 % 79,425 4.000 % 99,281 5.00 % December 31, 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) $ 261,732 20.35 % $ 102,886 8.00 % $ 128,608 10.00 % Tier 1 capital (to risk-weighted assets) 245,503 19.09 % 77,165 6.00 % 102,886 8.00 % Common equity Tier 1 capital (to risk-weighted assets) 245,503 19.09 % 57,874 4.50 % 83,595 6.50 % Tier 1 capital (to average assets)** 245,503 12.53 % 78,348 4.00 % 97,934 5.00 % The components of United Community’s consolidated regulatory capital are as follows: March 31, 2016 December 31, 2015 Total shareholders' equity $ 251,804 $ 244,245 Add (deduct) Accumulated other comprehensive income 12,938 19,220 Intangible assets (10 ) (12 ) Disallowed deferred tax assets (17,254 ) (17,950 ) Disallowed capitalized mortgage loan servicing rights — — Tier 1 Capital 247,478 245,503 Allowance for loan losses and allowance for unfunded lending commitments limited to 1.25% of total risk-weighted assets 16,758 16,229 Total risk-based capital $ 264,236 $ 261,732 |
INCOME TAXES
INCOME TAXES | 3 Months Ended |
Mar. 31, 2016 | |
Income Tax Disclosure [Abstract] | |
INCOME TAXES | 13. INCOME TAXES Significant components of the deferred tax assets and liabilities are as follows: March 31, December 31, 2016 2015 (Dollars in thousands) Deferred tax assets: Loan loss reserves $ 5,916 $ 6,199 Postretirement benefits 459 564 Depreciation 671 611 Other real estate owned valuation 393 430 Tax credits carryforward 995 951 Unrealized loss on securities available for sale — 1,341 Unrealized loss on securities held to maturity 499 517 Interest on nonaccrual loans 650 834 Net operating loss carryforward 16,259 16,903 Purchase accounting adjustment 91 90 Accrued bonuses 321 723 Other 106 50 Deferred tax assets 26,360 29,213 Deferred tax liabilities: Deferred loan fees 581 510 Federal Home Loan Bank stock dividends 4,585 4,585 Mortgage servicing rights 1,839 1,976 FHLB prepayment penalty 990 1,059 Unrealized gains on securities available for sale 2,120 — Postretirement benefits accrual 350 447 Prepaid expenses 292 215 Deferred tax liabilities 10,757 8,792 Net deferred tax asset $ 15,603 $ 20,421 As of March 31, 2016, the net DTA was $15.6 million, and as of December 31, 2015, the net DTA was $20.4 million. 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 $46.5 million at March 31, 2016 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 $995,000 of alternative minimum tax credits. The alternative minimum tax credits are carried forward indefinitely. |
BUSINESS COMBINATION
BUSINESS COMBINATION | 3 Months Ended |
Mar. 31, 2016 | |
Business Combinations [Abstract] | |
BUSINESS COMBINATION | 14. BUSINESS COMBINATION On January 29, 2016, the Company completed the purchase of Forge Financial Services, Inc. d/b/a James & Sons Insurance Company of Youngstown, Ohio. James & Sons Insurance is engaged in the business of selling insurance including auto, commercial, homeowners and life-health insurance. Under the purchase agreement, the Company paid $1.5 million in stock and $360,000 in cash in connection with this acquisition. There were no acquisition related costs recognized for the three months ended March 31, 2016. The fair value of the 262,705 common shares issued, as part of the consideration paid for James & Sons Insurance, was determined based on the closing price per share for the 20 consecutive trading days ending five business days prior to January 29, 2016. Total assets purchased was $2.3 million, including $1.6 million in goodwill and other intangible assets. The Company is waiting for independent valuations to separate other intangible assets from goodwill. |
RECENT ACCOUNTING DEVELOPMENTS
RECENT ACCOUNTING DEVELOPMENTS (Policies) | 3 Months Ended |
Mar. 31, 2016 | |
Accounting Changes And Error Corrections [Abstract] | |
Revenue from Contracts with Customers | In May 2014, FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606) |
Amendments to the Consolidation Analysis | In February 2015, the FASB issued ASU 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis. |
Recognition and Measurement of Financial Assets and Financial Liabilities | In January 2016, the FASB issued ASU 2016-1 , Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities. |
Leases | In February 2016, the FASB issued ASU 2016-02 - Leases (Topic 842) |
Improvements to Employee Share-Based Payment Accounting | In March 2016, the FASB issued ASU 2016-09, Improvements to Employee Share-Based Payment Accounting, Compensation - Stock Compensation. |
STOCK COMPENSATION (Tables)
STOCK COMPENSATION (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
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 three months ended March 31, 2016 Weighted Aggregate average intrinsic value Shares exercise price (in thousands) Outstanding at beginning of year 572,323 $ 2.56 Granted — — Exercised (8,000 ) 1.48 Forfeited and expired (600 ) 2.10 Outstanding at end of period 563,723 2.58 $ 1,854 Options exercisable at end of period 551,775 2.53 $ 1,845 |
Information Related to Stock Option Plans | Information related to the stock option plans for the three months ended March 31, 2016 and 2015 follows: March 31, 2016 March 31, 2015 Intrinsic value of options exercised $ 33,920 $ 26,400 Cash received from option exercises 11,000 16,000 Tax benefit realized from option exercises — — Weighted average fair value of options granted, per share $ — $ 1.93 |
Weighted-Average Assumptions for Determining Fair Value of Options Granted | The fair value of options granted during the three months ended March 31, 2015 was determined using the following weighted-average assumptions as of the grant date: Three months ended March 31, 2015 Risk-free interest rate 1.49 % Expected term (years) 5 Expected stock volatility 36.66 % Dividend yield 0.75 % |
Summary of Changes in Company's Nonvested Restricted Shares | A summary of changes in the Company’s nonvested restricted shares for the three months ended March 31, 2016 is as follows: For the three months ended March 31, 2016 Weighted average grant date Shares fair value Nonvested at beginning of year 260,490 $ 4.68 Granted 159,238 $ 5.95 Vested (48,204 ) $ 4.74 Forfeited (1,014 ) $ 3.59 Nonvested shares at end of period 370,510 $ 5.22 |
SECURITIES (Tables)
SECURITIES (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Components of Available for Sale Portfolio | Components of the available for sale portfolio are as follows: March 31, 2016 Gross Gross Amortized unrealized unrealized Fair cost gains losses value (Dollars in thousands) Available for Sale U.S. Treasury and government sponsored entities' securities $ 208,369 $ 4,529 $ — $ 212,898 States of the U.S. and political subdivisions 35,294 463 (17 ) 35,740 Mortgage-backed GSE securities: residential 115,650 1,081 — 116,731 Total $ 359,313 $ 6,073 $ (17 ) $ 365,369 December 31, 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 $ 221,500 $ 159 $ (3,009 ) $ 218,650 States of the U.S. and political subdivisions 10,848 192 — 11,040 Mortgage-backed GSE securities: residential 129,155 55 (1,230 ) 127,980 Total $ 361,503 $ 406 $ (4,239 ) $ 357,670 |
Components of Held to Maturity Securities Portfolio | Components of held to maturity securities portfolio are as follows: March 31, 2016 Gross Gross Amortized unrecognized unrecognized Fair cost gains losses value (Dollars in thousands) Held to maturity Mortgage-backed GSE securities: residential $ 97,467 $ 606 $ — $ 98,073 States of the U.S. and political subdivisions 10,371 258 — 10,629 Total $ 107,838 $ 864 $ — $ 108,702 December 31, 2015 Gross Gross Amortized unrecognized unrecognized Fair cost gains losses value (Dollars in thousands) Held to maturity Mortgage-backed GSE securities: residential $ 100,322 $ — $ (1,203 ) $ 99,119 States of the U.S. and political subdivisions 10,377 148 — 10,525 Total $ 110,699 $ 148 $ (1,203 ) $ 109,644 |
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: March 31, 2016 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 189,869 193,962 Due after ten years 53,794 54,676 Mortgage-backed GSE securities: residential 115,650 116,731 Total $ 359,313 $ 365,369 |
Securities Available for Sale and Held to Maturity in Unrealized and Unrecognized 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: March 31, 2016 Less than 12 months 12 months or more Total Fair Unrealized loss Fair Unrealized Fair Unrealized value Loss value Loss value Loss (Dollars in thousands) Description of securities: U.S. Treasury and government sponsored entities $ — $ — $ — $ — $ — $ — States of the U.S. and political subdivisions 8,272 (17 ) — — 8,272 (17 ) Mortgage-backed GSE securities: residential — — — — — — Total temporarily impaired securities $ 8,272 $ (17 ) $ — $ — $ 8,272 $ (17 ) December 31, 2015 Less than 12 months 12 months or more Total Fair Unrealized loss Fair Unrealized Fair Unrealized value Loss value Loss value Loss (Dollars in thousands) Description of securities: U.S. Treasury and government sponsored entities $ 139,876 $ (1,654 ) $ 55,055 $ (1,355 ) $ 194,931 $ (3,009 ) Mortgage-backed GSE securities: residential 100,585 (842 ) 14,278 (388 ) 114,863 (1,230 ) Total temporarily impaired securities $ 240,461 $ (2,496 ) $ 69,333 $ (1,743 ) $ 309,794 $ (4,239 ) |
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: March 31, 2016 Amortized cost Fair value (Dollars in thousands) Due in one year or less $ 1,100 $ 1,107 Due after one year through five years — — Due after five years through ten years 3,270 3,370 Due after ten years 6,001 6,152 Mortgage-backed GSE securities: residential 97,467 98,073 Total $ 107,838 $ 108,702 |
Securities Available for Sale and Held to Maturity in Unrealized and Unrecognized Loss Position | Securities held to maturity that have been in an unrecognized loss position for less than twelve months or twelve months or more are as follows: March 31, 2016 Less than 12 months 12 months or more Total Fair Unrealized loss Fair Unrealized Fair Unrealized value Loss value Loss value Loss (Dollars in thousands) Description of securities: Mortgage-backed GSE securities: residential $ — $ — $ 75,672 $ (860 ) $ 75,672 $ (860 ) States of the U.S. and political subdivisions — — — — — — Total temporarily impaired securities $ — $ — $ 75,672 $ (860 ) $ 75,672 $ (860 ) December 31, 2015 Less than 12 months 12 months or more Total Fair Unrealized loss Fair Unrealized Fair Unrealized value Loss value Loss value Loss (Dollars in thousands) Description of securities: Mortgage-backed GSE securities: residential $ 22,723 $ (289 ) $ 76,396 $ (2,390 ) $ 99,119 $ (2,679 ) States of the U.S. and political subdivisions — — — — — — Total temporarily impaired securities $ 22,723 $ (289 ) $ 76,396 $ (2,390 ) $ 99,119 $ (2,679 ) |
LOANS (Tables)
LOANS (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Receivables [Abstract] | |
Schedule of Portfolio of Loans | Portfolio loans consist of the following: March 31, December 31, 2016 2015 (Dollars in thousands) Commercial loans Multifamily $ 80,581 $ 80,170 Nonresidential 184,279 175,456 Land 8,938 9,301 Construction 49,858 38,812 Secured 79,074 63,182 Unsecured 4,182 2,831 Total commercial loans 406,912 369,752 Residential mortgage loans One-to four-family 741,401 733,685 Construction 38,994 40,898 Total residential mortgage loans 780,395 774,583 Consumer loans Home equity 158,933 161,338 Auto 13,752 11,348 Marine 2,603 2,699 Recreational vehicle 9,677 10,656 Other 2,358 2,217 Total consumer loans 187,323 188,258 Total loans 1,374,630 1,332,593 Less: Allowance for loan losses 16,903 17,712 Deferred loan costs, net (1,419 ) (1,311 ) Total 15,484 16,401 Loans, net $ 1,359,146 $ 1,316,192 |
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 March 31, 2016 and December 31, 2015 and activity for the three months ended March 31, 2016 and 2015. Allowance For Loan Losses Commercial Loans Residential Loans Consumer Loans Total (Dollars in thousands) For the three months ended March 31, 2016 Beginning balance $ 8,077 $ 6,630 $ 3,005 $ 17,712 Provision (recovery) 2,724 (594 ) 25 2,155 Charge-offs (2,346 ) (362 ) (479 ) (3,187 ) Recoveries 66 62 95 223 Ending balance $ 8,521 $ 5,736 $ 2,646 $ 16,903 March 31, 2016 Period-end amount allocated to: Loans individually evaluated for impairment $ 1,029 $ 1,407 $ 586 $ 3,022 Loans collectively evaluated for impairment 7,492 4,329 2,060 13,881 Ending balance $ 8,521 $ 5,736 $ 2,646 $ 16,903 Period-end balances: Loans individually evaluated for impairment $ 14,180 $ 18,791 $ 9,640 $ 42,611 Loans collectively evaluated for impairment 392,732 761,604 177,683 1,332,019 Ending balance $ 406,912 $ 780,395 $ 187,323 $ 1,374,630 Allowance For Loan Losses Commercial Loans Residential Loans Consumer Loans Total For the three months ended March 31, 2015 Beginning balance $ 5,690 $ 8,517 $ 3,480 $ 17,687 Provision (recovery) 158 (871 ) 529 (184 ) Charge-offs (15 ) (166 ) (531 ) (712 ) Recoveries 112 186 132 430 Ending balance $ 5,945 $ 7,666 $ 3,610 $ 17,221 December 31, 2015 Period-end amount allocated to: Loans individually evaluated for impairment $ 568 $ 1,541 $ 707 $ 2,816 Loans collectively evaluated for impairment 7,509 5,089 2,298 14,896 Ending balance $ 8,077 $ 6,630 $ 3,005 $ 17,712 Period-end balances: Loans individually evaluated for impairment $ 9,698 $ 19,348 $ 10,613 $ 39,659 Loans collectively evaluated for impairment 360,054 755,235 177,645 1,292,934 Ending balance $ 369,752 $ 774,583 $ 188,258 $ 1,332,593 |
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 three months ended March 31, 2016: 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 $ 97 $ — $ — $ — $ — $ — Nonresidential 1,042 212 — 259 1 1 Land 3,922 384 — 384 — — Construction 3,593 — — — — — Secured 3,860 3,700 — 3,700 — — Unsecured 1,124 — — — — — Total commercial loans 13,638 4,296 — 4,343 1 1 Residential mortgage loans One-to four-family 7,875 6,081 — 5,974 20 14 Construction — — — — — — Total residential mortgage loans 7,875 6,081 — 5,974 20 14 Consumer loans Home equity 1,951 1,332 — 1,525 3 2 Auto 15 9 — 12 — — Marine 546 303 — 287 — — Recreational vehicle 534 289 — 184 1 1 Other 3 3 — 3 — — Total consumer loans 3,049 1,936 — 2,011 4 3 Total $ 24,562 $ 12,313 $ — $ 12,328 $ 25 $ 18 With a specific allowance recorded Commercial loans Multifamily $ — $ — $ — $ — $ — $ — Nonresidential 11,348 8,924 936 6,954 109 107 Land — — — — — — Construction — — — — — — Secured 1,054 960 93 642 — — Unsecured — — — — — — Total commercial loans 12,402 9,884 1,029 7,596 109 107 Residential mortgage loans One-to four-family 12,710 12,710 1,407 13,096 189 136 Construction — — — — — — Total residential mortgage loans 12,710 12,710 1,407 13,096 189 136 Consumer loans Home equity 6,857 6,857 497 7,047 110 90 Auto — — — — — — Marine 159 159 3 161 2 2 Recreational vehicle 688 688 86 905 7 7 Other — — — 4 — — Total consumer loans 7,704 7,704 586 8,117 119 99 Total 32,816 30,298 3,022 28,809 417 342 Total impaired loans $ 57,378 $ 42,611 $ 3,022 $ 41,137 $ 442 $ 360 The following tables present loans individually evaluated for impairment by class of loans as of and for three months ended March 31, 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 $ 197 $ 85 $ — $ 86 $ — $ — Nonresidential 4,258 2,450 — 3,880 1 1 Land 3,958 532 — 532 — — Construction 1,126 188 — 439 — — Secured 3,898 3,700 — 3,704 — — Unsecured 1,489 — — — — — Total commercial loans 14,926 6,955 — 8,641 1 1 Residential mortgage loans One-to four-family 6,134 4,649 — 5,341 18 10 Construction — — — — — — Total residential mortgage loans 6,134 4,649 — 5,341 18 10 Consumer loans Home equity 2,294 1,679 — 1,739 9 6 Auto 40 32 — 61 — — Marine 519 293 — 189 2 2 Recreational vehicle 97 69 — 181 1 1 Other — — — 3 — — Total consumer loans 2,950 2,073 — 2,173 12 9 Total $ 24,010 $ 13,677 $ — $ 16,155 $ 31 $ 20 With a specific allowance recorded Commercial loans Multifamily $ — $ — $ — $ 21 $ — $ — Nonresidential 6,550 6,367 586 3,644 37 37 Land — — — — — — Construction 2,815 863 93 1,338 — — Secured 324 324 3 324 — — Unsecured — — — — — — Total commercial loans 9,689 7,554 682 5,327 37 37 Residential mortgage loans One-to four-family 14,595 14,595 1,707 14,630 228 138 Construction — — — — — — Total residential mortgage loans 14,595 14,595 1,707 14,630 228 138 Consumer loans Home equity 9,256 9,256 687 9,662 169 114 Auto 5 5 — 7 — — Marine — — — — — — Recreational vehicle 716 716 117 737 13 6 Other — — — — — — Total consumer loans 9,977 9,977 804 10,406 182 120 Total 34,261 32,126 3,193 30,363 447 295 Total impaired loans $ 58,271 $ 45,803 $ 3,193 $ 46,518 $ 478 $ 315 The following table present loans individually evaluated for impairment by class of loans as of December 31, 2015: Impaired Loans (Dollars in thousands) Unpaid Principal Balance Recorded Investment Allowance for Loan Losses Allocated With no specific allowance recorded Commercial loans Multifamily $ 165 $ — $ — Nonresidential 1,215 306 — Land 3,922 384 — Construction 3,593 — — Secured 3,884 3,700 — Unsecured 1,132 — — Total commercial loans 13,911 4,390 — Residential mortgage loans One-to four-family 7,607 5,866 — Construction — — — Total residential mortgage loans 7,607 5,866 — Consumer loans Home equity 2,245 1,718 — Auto 20 14 — Marine 496 271 — Recreational vehicle 121 78 — Other 3 3 — Total consumer loans 2,885 2,084 — Total $ 24,403 $ 12,340 $ — With a specific allowance recorded Commercial loans Multifamily $ — $ — $ — Nonresidential 5,164 4,984 565 Land — — — Construction — — — Secured 324 324 3 Unsecured — — — Total commercial loans 5,488 5,308 568 Residential mortgage loans One-to four-family 13,482 13,482 1,541 Construction — — — Total residential mortgage loans 13,482 13,482 1,541 Consumer loans Home equity 7,236 7,236 522 Auto — — — Marine 163 163 3 Recreational vehicle 1,122 1,122 181 Other 8 8 1 Total consumer loans 8,529 8,529 707 Total 27,499 27,319 2,816 Total impaired loans $ 51,902 $ 39,659 $ 2,816 |
Loans in Process of Foreclosure | The table below presents loans that are in the process of foreclosure at March 31, 2016 and December 31, 2015, but legal title, deed in lieu of foreclosure or similar legal agreement to the property has not yet been obtained: March 31, 2016 December 31, 2015 Unpaid Principal Balance Recorded Investment Unpaid Principal Balance Recorded Investment (Dollars in thousands) (Dollars in thousands) Mortgage loans in process of foreclosure $ 2,690 $ 2,360 $ 1,294 $ 1,162 Consumer loans in process of foreclosure 1,036 799 845 643 |
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 March 31, 2016: Nonaccrual Loans and Loans Past Due Over 90 Days and Still Accruing As of March 31, 2016 Nonaccrual Loans past due over 90 days and still accruing (Dollars in thousands) Commercial loans Multifamily $ — $ — Nonresidential 7,557 — Land 384 — Construction — — Secured 4,652 — Unsecured — — Total commercial loans 12,593 — Residential mortgage loans One-to four-family 5,312 — Construction — — Total residential mortgage loans 5,312 — Consumer Loans Home equity 1,635 — Auto 28 — Marine 249 — Recreational vehicle 285 — Other 3 — Total consumer loans 2,200 — Total nonaccrual loans and loans past due over 90 days and still accruing $ 20,105 $ — 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, 2015: Nonaccrual Loans and Loans Past Due Over 90 Days and Still Accruing As of December 31, 2015 Nonaccrual Loans past due over 90 days and still accruing (Dollars in thousands) Commercial loans Multifamily $ — $ — Nonresidential 3,599 — Land 384 — Construction — — Secured 4,016 — Unsecured — — Total commercial loans 7,999 — Residential mortgage loans One-to four-family 6,181 — Construction — — Total residential mortgage loans 6,181 — Consumer Loans Home equity 1,804 — Auto 23 — Marine 218 — Recreational vehicle 511 — Other 11 — Total consumer loans 2,567 — Total nonaccrual loans and loans past due over 90 days and still accruing $ 16,747 $ — |
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 March 31, 2016: 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 $ — $ — $ — $ — $ 80,581 $ 80,581 Nonresidential 29 9 3,504 3,542 180,737 184,279 Land — — 384 384 8,554 8,938 Construction — — — — 49,858 49,858 Secured — — 4,652 4,652 74,422 79,074 Unsecured — — — — 4,182 4,182 Total commercial loans 29 9 8,540 8,578 398,334 406,912 Residential mortgage loans One-to four-family 2,346 1,449 5,069 8,864 732,537 741,401 Construction — — — — 38,994 38,994 Total residential mortgage loans 2,346 1,449 5,069 8,864 771,531 780,395 Consumer Loans: Home equity 511 380 1,631 2,522 156,411 158,933 Automobile 3 — 26 29 13,723 13,752 Marine 163 — 109 272 2,331 2,603 Recreational vehicle 115 5 285 405 9,272 9,677 Other 3 4 3 10 2,348 2,358 Total consumer loans 795 389 2,054 3,238 184,085 187,323 Total loans $ 3,170 $ 1,847 $ 15,663 $ 20,680 $ 1,353,950 $ 1,374,630 The following table presents an age analysis of past-due loans, segregated by class of loans as of December 31, 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 $ — $ — $ — $ — $ 80,170 $ 80,170 Nonresidential — — 3,558 3,558 171,898 175,456 Land — — 384 384 8,917 9,301 Construction — — — — 38,812 38,812 Secured 488 — 4,016 4,504 58,678 63,182 Unsecured — — — — 2,831 2,831 Total commercial loans 488 — 7,958 8,446 361,306 369,752 Residential mortgage loans One-to four-family 3,843 635 5,901 10,379 723,306 733,685 Construction — — — — 40,898 40,898 Total residential mortgage loans 3,843 635 5,901 10,379 764,204 774,583 Consumer Loans: Home equity 961 268 1,788 3,017 158,321 161,338 Automobile 5 — 10 15 11,333 11,348 Marine — 51 117 168 2,531 2,699 Recreational vehicle 71 — 494 565 10,091 10,656 Other 15 1 11 27 2,190 2,217 Total consumer loans 1,052 320 2,420 3,792 184,466 188,258 Total loans $ 5,383 $ 955 $ 16,279 $ 22,617 $ 1,309,976 $ 1,332,593 |
Loans by Class Modified as Troubled Debt Restructurings | The following table presents loans by class modified as troubled debt restructurings that occurred during the three months ended March 31, 2016: Number of Loans Pre-Modification Outstanding Recorded Investment Post-Modification Recorded Investment (In thousands) Commercial loans Multifamily — $ — $ — Nonresidential 1 88 88 Land — — — Construction — — — Secured — — — Unsecured — — — Total commercial loans 1 88 88 Residential mortgage loans One-to four-family 2 219 237 Construction — — — Total residential mortgage loans 2 219 237 Consumer loans Home equity 1 20 20 Auto — — — Marine — — — Recreational vehicle — — — Other — — — Total consumer loans 1 20 20 Total restructured loans 4 $ 327 $ 345 The following table presents loans by class modified as troubled debt restructurings that occurred during the three months ended March 31, 2015: 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 5 441 454 Construction — — — Total residential mortgage loans 5 441 454 Consumer loans Home equity 2 354 354 Auto — — — Marine — — — Recreational vehicle — — — Other — — — Total consumer loans 2 354 354 Total restructured loans 7 $ 795 $ 808 |
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 period ended March 31, 2016: 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 25 Construction — — Total residential mortgage loans 2 25 Consumer loans Home equity — — Auto — — Marine — — Recreational vehicle — — Other — — Total consumer loans — — Total restructured loans 2 $ 25 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 period ended March 31, 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 2 217 Construction — — Total residential mortgage loans 2 217 Consumer loans Home equity 1 15 Auto — — Marine — — Recreational vehicle — — Other — — Total consumer loans 1 15 Total restructured loans 3 $ 232 |
Risk Category of Loans by Class of Loans | As of March 31, 2016 and December 31, 2015, and based on the most recent analysis performed, the risk category of loans by class of loans is as follows: Loans March 31, 2016 (Dollars in thousands) Unclassified Classified Unclassified Special Mention Substandard Doubtful Loss Total Classified Total Loans Commercial Loans Multifamily $ 76,001 $ 3,685 $ 895 $ — $ — $ 895 $ 80,581 Nonresidential 164,085 2,416 17,778 — — 17,778 184,279 Land 8,554 — 384 — — 384 8,938 Construction 49,858 — — — — — 49,858 Secured 68,611 22 10,441 — — 10,441 79,074 Unsecured 4,081 — 101 — — 101 4,182 Total commercial loans 371,190 6,123 29,599 — — 29,599 406,912 Residential mortgage loans One-to four-family 735,464 107 5,830 — — 5,830 741,401 Construction 38,994 — — — — — 38,994 Total residential mortgage loans 774,458 107 5,830 — — 5,830 780,395 Consumer Loans Home equity 157,121 — 1,812 — — 1,812 158,933 Auto 13,719 2 31 — — 31 13,752 Marine 2,300 — 303 — — 303 2,603 Recreational vehicle 9,385 — 292 — — 292 9,677 Other 2,355 — 3 — — 3 2,358 Total consumer loans 184,880 2 2,441 — — 2,441 187,323 Total loans $ 1,330,528 $ 6,232 $ 37,870 $ — $ — $ 37,870 $ 1,374,630 Loans December 31, 2015 (Dollars in thousands) Unclassified Classified Unclassified Special Mention Substandard Doubtful Loss Total Classified Total Loans Commercial Loans Multifamily $ 75,535 $ 3,727 $ 908 $ — $ — $ 908 $ 80,170 Nonresidential 151,415 4,121 19,920 — — 19,920 175,456 Land 8,917 — 384 — — 384 9,301 Construction 38,812 — — — — — 38,812 Secured 53,801 3,037 6,344 — — 6,344 63,182 Unsecured 2,728 — 103 — — 103 2,831 Total commercial loans 331,208 10,885 27,659 — — 27,659 369,752 Residential mortgage loans One-to four-family 726,922 111 6,652 — — 6,652 733,685 Construction 40,898 — — — — — 40,898 Total residential mortgage loans 767,820 111 6,652 — — 6,652 774,583 Consumer Loans Home equity 159,371 — 1,967 — — 1,967 161,338 Auto 11,304 2 42 — — 42 11,348 Marine 2,428 — 271 — — 271 2,699 Recreational vehicle 10,157 — 499 — — 499 10,656 Other 2,206 — 11 — — 11 2,217 Total consumer loans 185,466 2 2,790 — — 2,790 188,258 Total loans $ 1,284,494 $ 10,998 $ 37,101 $ — $ — $ 37,101 $ 1,332,593 |
MORTGAGE BANKING ACTIVITIES (Ta
MORTGAGE BANKING ACTIVITIES (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Mortgage Banking [Abstract] | |
Principal Balances of Mortgage Servicing Rights | Mortgage loans serviced for others are not reported as assets. The principal balances of these loans are as follows: March 31, 2016 December 31, 2015 (Dollars in thousands) Mortgage loan portfolios serviced for: FHLMC $ 896,553 $ 878,300 FNMA 228,074 233,026 |
Capitalized Mortgage Servicing Rights | Activity for capitalized mortgage servicing rights, included in other assets, was as follows: For the Three Months Ended March 31, 2016 2015 (Dollars in thousands) Balance, beginning of period $ 5,686 $ 5,535 Originations 509 451 Amortized to expense (468 ) (443 ) Balance, end of period 5,727 5,543 Less valuation allowance (474 ) (219 ) Net balance $ 5,253 $ 5,324 |
Valuation Allowance for Mortgage Servicing Rights | Activity in the valuation allowance for mortgage servicing rights was as follows: For the Three Months Ended March 31, 2016 2015 (Dollars in thousands) Balance, beginning of period $ (39 ) $ (58 ) Impairment charges (435 ) (161 ) Recoveries — — Balance, end of period $ (474 ) $ (219 ) |
Key Economic Assumptions in Measuring Value of Mortgage Servicing Rights | Key economic assumptions in measuring the value of mortgage servicing rights at March 31, 2016, and December 31, 2015, were as follows: March 31, 2016 December 31, 2015 Weighted average prepayment rate 252 PSA 192 PSA Weighted average life (in years) 3.43 3.47 Weighted average discount rate 9.00% 9.00% |
OTHER REAL ESTATE OWNED AND O28
OTHER REAL ESTATE OWNED AND OTHER REPOSSESSED ASSETS (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Real Estate [Abstract] | |
Real Estate Owned and Other Repossessed Assets | Real estate owned and other repossessed assets at March 31, 2016 and December 31, 2015 were as follows: March 31, 2016 December 31, 2015 (Dollars in thousands) Real estate owned and other repossessed assets $ 2,970 $ 3,956 Valuation allowance (1,124 ) (1,229 ) End of period $ 1,846 $ 2,727 |
Valuation Allowance Related to Real Estate Owned | Activity in the valuation allowance was as follows: Three Months Ended March 31, 2016 March 31, 2015 (Dollars in thousands) Beginning of period $ 1,229 $ 1,423 Additions charged to expense 1 80 Reductions due to sales (106 ) (259 ) End of period $ 1,124 $ 1,244 |
Expenses Related to Foreclosed and Repossessed Assets | Expenses related to foreclosed and repossessed assets include: Three Months Ended March 31, 2016 March 31, 2015 (Dollars in thousands) Net (gain) loss on sales $ 12 $ 10 Provision for unrealized losses, net 1 80 Operating expenses, net of rental income 72 141 Total expenses $ 85 $ 231 |
FAIR VALUE MEASUREMENT (Tables)
FAIR VALUE MEASUREMENT (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
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 March 31, 2016 Using: Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable March 31, Assets Inputs Inputs 2016 (Level 1) (Level 2) (Level 3) (Dollars in thousands) Assets: Available for sale securities U.S. Treasury and government sponsored entities' securities $ 212,898 $ — $ 212,898 $ — States of the U.S. and political subdivisions 35,740 — 35,740 Mortgage-backed GSE securities: residential 116,731 — 116,731 — Loans held for sale, at fair value 32,007 — 5,247 26,760 Interest rate caps — — — — Purchased certificate of deposit option 913 — 913 — Liabilities Written certificate of deposit option 913 — 913 — Fair Value Measurements at December 31, 2015 Using: Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable December 31, 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 $ 218,650 $ — $ 218,650 $ — States of the U.S. and political subdivisions 11,040 — 11,040 Mortgage-backed GSE securities: residential 127,980 — 127,980 — Loans held for sale, at fair value 26,716 — — 26,716 Interest rate caps 3 — — 3 Purchased certificate of deposit option 805 — 805 — Liabilities Written certificate of deposit option 805 — 805 — |
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 months ended March 31, 2016 and 2015. Loans Held for Sale, At Fair Value For the Three Months Ended March 31, 2016 2015 (Dollars in thousands) Balance of recurring Level 3 assets at beginning of period $ 26,716 $ — Total gains (losses) for the period Included in change in fair value of loans held for sale 669 561 Included in other comprehensive income — — Originations/Draws on construction perm loans 16,687 1,047 Amortization — — Sales (17,312 ) — Balance of recurring Level 3 assets at end of period $ 26,760 $ 1,608 Interest Rate Caps For the Three Months Ended March 31, 2016 2015 (Dollars in thousands) Balance of recurring Level 3 assets at beginning of period $ 3 $ 180 Total gains (losses) for the period Included in other income 127 75 Included in other comprehensive income — — Purchases — — Amortization (130 ) (129 ) Sales — — Balance of recurring Level 3 assets at end of period $ — $ 126 |
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 March 31, 2016 Using: Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable March 31, Assets Inputs Inputs 2016 (Level 1) (Level 2) (Level 3) (Dollars in thousands) Assets: Impaired loans: Commercial loans Nonresidential $ 6,458 $ — $ — $ 6,458 Secured 546 — — 546 Residential loans One-to four-family residential 867 — — 867 Consumer loans Home Equity 3 — — 3 Auto 4 — — 4 Marine 163 — — 163 Recreational vehicle 213 — — 213 Mortgage servicing rights 2,704 — 2,704 — Other real estate owned, net Commercial loans Construction loans 785 — — 785 Nonresidential loans 175 — — 175 Residential loans One-to four-family residential 344 — — 344 Fair Value Measurements at December 31, 2015 Using: Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable December 31, Assets Inputs Inputs 2015 (Level 1) (Level 2) (Level 3) (Dollars in thousands) Assets: Impaired loans: Commercial loans Nonresidential $ 2,857 $ — $ — $ 2,857 Land 175 — — 175 Residential loans One-to four-family residential 1,493 — — 1,493 Consumer loans Home Equity 392 — — 392 Auto 1 — — 1 Mortgage servicing rights 604 — 604 — Other real estate owned, net Commercial loans Construction loans 785 — — 785 Nonresidential loans 175 — — 175 Residential loans One-to four-family residential 1,088 — — 1,088 |
Fair Value Option for Newly Originated Permanent Construction Loans Held for Sale | The Company has elected the fair value option for newly originated residential mortgage and 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 March 31, 2016. March 31, 2016 December 31, 2015 (Dollars in thousands) Aggregate fair value $ 32,007 $ 26,716 Contractual balance 29,684 25,197 Gain (loss) 2,323 1,519 |
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 months ended March 31, 2016 for loans held for sale, at fair value were: For the Three Months Ended March 31, 2016 March 31, 2015 (Dollars in thousands) Interest income $ — $ — Interest expense — — Change in fair value 803 561 Total change in fair value $ 803 $ 561 |
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 March 31, 2016 and December 31, 2015, were as follows: Fair Value Measurements at March 31, 2016 Using: March 31, 2016 Carrying Value (Level 1) (Level 2) (Level 3) (Dollars in thousands) Assets: Cash and cash equivalents $ 40,570 $ 40,570 $ — $ — Available for sale securities 365,369 — 365,369 — Held to maturity securities 107,838 — 107,595 1,107 Loans held for sale 3,991 — 4,079 — Loans held for sale, at fair value 32,007 — 5,247 26,760 Loans, net 1,359,146 — — 1,365,391 FHLB stock 18,068 n/a n/a n/a Accrued interest receivable 5,783 — 2,095 3,688 Interest rate caps — — — — Purchased certificate of deposit option 913 — 913 — Liabilities: Deposits: Checking, savings and money market accounts (1,026,318 ) (1,026,318 ) — — Certificates of deposit (440,296 ) — (444,173 ) — FHLB advances (291,170 ) — (291,070 ) — Repurchase agreements and other (529 ) — (540 ) — Advance payments by borrowers for taxes and insurance (16,247 ) (16,247 ) — — Accrued interest payable (110 ) — (110 ) — Written certificate of deposit option (913 ) — (913 ) — Fair Value Measurements at December 31, 2015 Using: December 31, 2015 Carrying Value (Level 1) (Level 2) (Level 3) (Dollars in thousands) Assets: Cash and cash equivalents $ 35,910 $ 35,910 $ — $ — Available for sale securities 357,670 — 357,670 — Held to maturity securities 110,699 — 108,536 1,108 Loans held for sale 9,085 — 9,207 — Loans held for sale, at fair value 26,716 — — 26,716 Loans, net 1,316,192 — — 1,322,338 FHLB stock 18,068 n/a n/a n/a Accrued interest receivable 5,978 — 2,276 3,702 Interest rate caps 3 — — 3 Purchased certificate of deposit option 805 — 805 — Liabilities: Deposits: Checking, savings and money market accounts (980,783 ) (980,783 ) — — Certificates of deposit (454,960 ) — (459,433 ) — FHLB advances (278,975 ) — (279,053 ) — Repurchase agreements and other (535 ) — (548 ) — Advance payments by borrowers for taxes and insurance (21,174 ) (21,174 ) — — Accrued interest payable (53 ) — (53 ) — Written certificate of deposit option (805 ) — (805 ) — |
Significant Unobservable Inputs (Level 3) [Member] | Fair Value, Measurements, Recurring [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 March 31, 2016: Valuation Unobservable Fair Value Technique(s) Input(s) Range Loans held for sale, at fair value $ 26,760 Comparable sales Time discount 0.00-1.80% Interest rate caps — 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, 2015: Valuation Unobservable Fair Value Technique(s) Input(s) Range Loans held for sale, at fair value $ 26,716 Comparable sales Time discount 0.00-1.80% Interest rate caps 3 Discounted cash flow Discount rate 0.49-1.18% |
Significant Unobservable Inputs (Level 3) [Member] | Fair Value, Measurements, Nonrecurring [Member] | |
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 March 31, 2016: Fair Value Valuation Technique(s) Unobservable Input(s) Range (Weighted Average) Impaired loans: Commercial loans Nonresidential $ 6,458 Sales comparison approach Adjustment for differences between comparable sales 0.00%-35.00% (14.14%) Secured 546 Sales comparison approach Adjustment for differences between comparable sales 0.00%-27.47% (13.74%) Residential loans One-to four-family residential 867 Sales comparison approach Adjustment for differences between comparable sales 0.00%-10.77% (4.27%) Consumer loans Home Equity 3 Sales comparison approach Adjustment for differences between comparable sales 0.00%-17.85% (8.93%) Auto 4 Sales comparison approach Adjustment for differences between comparable sales 0.00%-10.00% (10.00%) Marine 163 Sales comparison approach Adjustment for differences between comparable sales 0.00%-37.00% (37.00%) Recreational vehicle 213 Sales comparison approach Adjustment for differences between comparable sales 0.00%-37.00% (37.00%) Other real estate owned, net Commercial loans Construction loans 785 Sales comparison approach Adjustment for differences between comparable sales 0.00%-50.00% (21.71%) Nonresidential loans 175 Sales comparison approach Adjustment for differences between comparable sales 40.00%-60.00% (50.00%) Residential loans One-to four-family residential 344 Sales comparison approach Adjustment for differences between comparable sales 0.00%-40.50% (15.51%) 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, 2015: Fair Value Valuation Technique(s) Unobservable Input(s) Range (Weighted Average) Impaired loans: Commercial loans Nonresidential $ 2,857 Sales comparison approach Adjustment for differences between comparable sales 9.19%-12.38% (10.79%) Land 175 Sales comparison approach Adjustment for differences between comparable sales 0.00%-27.47% (13.74%) Residential loans One-to four-family residential 1,493 Sales comparison approach Adjustment for differences between comparable sales 0.00%-10.77% (4.27%) Consumer loans Home Equity 392 Sales comparison approach Adjustment for differences between comparable sales 0.00%-17.85% (8.93%) Other real estate owned: Commercial loans Construction loans 785 Sales comparison approach Adjustment for differences between comparable sales 0.00%-50.00% (21.71%) Nonresidential loans 175 Sales comparison approach Adjustment for differences between comparable sales 40.00%-60.00% (50.00%) Residential loans One-to four-family residential 1,088 Sales comparison approach Adjustment for differences between comparable sales 0.00%-40.50% (15.51%) |
STATEMENT OF CASH FLOWS SUPPL30
STATEMENT OF CASH FLOWS SUPPLEMENTAL DISCLOSURE (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Supplemental Cash Flow Elements [Abstract] | |
Supplemental Disclosures of Cash Flow Information | Supplemental disclosures of cash flow information are summarized below. For the Three Months Ended March 31, 2016 2015 (Dollars in thousands) Supplemental disclosures of cash flow information Cash paid during the period for: Interest on deposits and borrowings $ 2,090 $ 2,120 Supplemental schedule of noncash activities: Transfers from loans to real estate owned and other repossessed assets 303 493 |
EARNINGS PER SHARE (Tables)
EARNINGS PER SHARE (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Earnings Per Share [Abstract] | |
Computation of Earnings Per Share | For the Three Months Ended March 31, 2016 2015 (Dollars in thousands, except per share data) Net income per consolidated statements of income $ 3,320 $ 3,686 Net income allocated to participating securities (22 ) (21 ) Net income allocated to common stock $ 3,298 $ 3,665 Basic earnings per common share computation: Distributed earnings allocated to common stock $ 1,188 $ 493 Undistributed earnings allocated to common stock 2,110 3,172 Net income allocated to common stock $ 3,298 $ 3,665 Weighted average common shares outstanding, including shares considered participating securities 47,587 49,291 Less: Average participating securities (315 ) (269 ) Weighted average shares 47,272 49,022 Basic earnings per common share $ 0.07 $ 0.07 Diluted earnings per common share computation: Net income allocated to common stock $ 3,298 $ 3,665 Weighted average common shares outstanding for basic earnings per common share 47,272 49,022 Add: Dilutive effects of assumed exercises of stock options 279 273 Weighted average shares and dilutive potential common shares 47,551 49,295 Diluted earnings per common share $ 0.07 $ 0.07 |
OTHER COMPREHENSIVE INCOME (L32
OTHER COMPREHENSIVE INCOME (LOSS) (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
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 Sale Disproportionate Tax Effect from Securities Available for Sale Losses on Securities Transferred From Available for Sale to Held to Maturity Unrealized Gains (Losses) from Postretirement Plan Disproportionate Tax Effect from Postretirement Plan Total March 31, 2016 (Dollars in thousands) Balances at beginning of period, net of tax $ (2,492 ) $ (17,110 ) $ (960 ) $ 831 $ 511 $ (19,220 ) Other comprehensive income before reclassifications 6,528 — — — — 6,528 Amortization of unrealized gains of postretirement plan recognized in other comprehensive income — — — (181 ) — (181 ) Accretion of unrealized losses of securities transferred from available for sale to held to maturity recognized in other comprehensive income — — 34 — — 34 Reclassification adjustment for gains realized in income (99 ) — — — — (99 ) Net current period other comprehensive income 6,429 — 34 (181 ) — 6,282 Balances at end of period, net of tax $ 3,937 $ (17,110 ) $ (926 ) $ 650 $ 511 $ (12,938 ) 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 March 31, 2015 (Dollars in thousands) Balances at beginning of period, net of tax $ (4,315 ) $ (17,110 ) $ 916 $ 511 $ (19,998 ) Other comprehensive income before reclassifications 3,897 — — — 3,897 Reclassification adjustment for gains realized in income (7 ) — — — (7 ) Net current period other comprehensive income 3,890 — — — 3,890 Balances at end of period, net of tax $ (425 ) $ (17,110 ) $ 916 $ 511 $ (16,108 ) |
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 March 31, 2016: 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 $ (153 ) Net gains 54 Tax expense (99 ) Net of tax Amortization of postretirement benefits prior service costs (278 ) Reduction in salaries and employee benefits 97 Tax expense (181 ) Net of tax Total reclassification during the period $ (280 ) Increase to net income The following is significant amounts reclassified out of each component of accumulated comprehensive income (loss) for the three months ended March 31, 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, increase to net income |
REGULATORY CAPITAL REQUIREMEN33
REGULATORY CAPITAL REQUIREMENTS (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Home Savings [Member] | |
Actual and Statutory Required Capital Amounts and Ratios | March 31, 2016 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) $ 245,669 18.39 % $ 115,224 8.625 % $ 133,594 10.00 % Tier 1 capital (to risk-weighted assets) 228,894 17.13 % 88,506 6.625 % 106,875 8.00 % Common equity Tier 1 capital (to risk-weighted assets) 228,894 17.13 % 68,467 5.125 % 86,836 6.50 % Tier 1 capital (to average assets)** 228,894 11.53 % 79,427 4.000 % 99,284 5.00 % December 31, 2015 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 capital (to risk-weighted assets) $ 240,697 18.72 % $ 102,879 8.00 % $ 128,599 10.00 % Tier 1 capital (to risk-weighted assets) 224,486 17.46 % 77,159 6.00 % 102,879 8.00 % Common equity Tier 1 capital (to risk-weighted assets) 224,486 17.46 % 57,869 4.50 % 83,589 6.50 % Tier 1 capital (to average assets)** 224,486 11.46 % 78,347 4.00 % 97,934 5.00 % ** Tier 1 Leverage Capital Ratio |
Components of Regulatory Capital | The components of Home Savings’ regulatory capital are as follows: March 31, 2016 December 31, 2015 Total shareholders' equity $ 230,771 $ 220,872 Add (deduct) Accumulated other comprehensive income 12,954 19,236 Intangible assets (10 ) (12 ) Disallowed deferred tax assets (14,821 ) (15,610 ) Disallowed capitalized mortgage loan servicing rights — — Tier 1 Capital 228,894 224,486 Allowance for loan losses and allowance for unfunded lending commitments limited to 1.25% of total risk-weighted assets 16,775 16,211 Total risk-based capital $ 245,669 $ 240,697 |
United Community [Member] | |
Actual and Statutory Required Capital Amounts and Ratios | Actual and regulatory required consolidated capital ratios for United Community, along with the dollar amount of capital implied by such ratios, are presented below. March 31, 2016 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) $ 264,236 19.81 % $ 115,024 8.625 % $ 133,361 10.00 % Tier 1 capital (to risk-weighted assets) 247,478 18.56 % 88,351 6.625 % 106,689 8.00 % Common equity Tier 1 capital (to risk-weighted assets) 247,478 18.56 % 68,347 5.125 % 86,684 6.50 % Tier 1 capital (to average assets)** 247,478 12.46 % 79,425 4.000 % 99,281 5.00 % December 31, 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) $ 261,732 20.35 % $ 102,886 8.00 % $ 128,608 10.00 % Tier 1 capital (to risk-weighted assets) 245,503 19.09 % 77,165 6.00 % 102,886 8.00 % Common equity Tier 1 capital (to risk-weighted assets) 245,503 19.09 % 57,874 4.50 % 83,595 6.50 % Tier 1 capital (to average assets)** 245,503 12.53 % 78,348 4.00 % 97,934 5.00 % |
Components of Regulatory Capital | The components of United Community’s consolidated regulatory capital are as follows: March 31, 2016 December 31, 2015 Total shareholders' equity $ 251,804 $ 244,245 Add (deduct) Accumulated other comprehensive income 12,938 19,220 Intangible assets (10 ) (12 ) Disallowed deferred tax assets (17,254 ) (17,950 ) Disallowed capitalized mortgage loan servicing rights — — Tier 1 Capital 247,478 245,503 Allowance for loan losses and allowance for unfunded lending commitments limited to 1.25% of total risk-weighted assets 16,758 16,229 Total risk-based capital $ 264,236 $ 261,732 |
INCOME TAXES (Tables)
INCOME TAXES (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Income Tax Disclosure [Abstract] | |
Significant Components of Deferred Tax Assets and Liabilities | Significant components of the deferred tax assets and liabilities are as follows: March 31, December 31, 2016 2015 (Dollars in thousands) Deferred tax assets: Loan loss reserves $ 5,916 $ 6,199 Postretirement benefits 459 564 Depreciation 671 611 Other real estate owned valuation 393 430 Tax credits carryforward 995 951 Unrealized loss on securities available for sale — 1,341 Unrealized loss on securities held to maturity 499 517 Interest on nonaccrual loans 650 834 Net operating loss carryforward 16,259 16,903 Purchase accounting adjustment 91 90 Accrued bonuses 321 723 Other 106 50 Deferred tax assets 26,360 29,213 Deferred tax liabilities: Deferred loan fees 581 510 Federal Home Loan Bank stock dividends 4,585 4,585 Mortgage servicing rights 1,839 1,976 FHLB prepayment penalty 990 1,059 Unrealized gains on securities available for sale 2,120 — Postretirement benefits accrual 350 447 Prepaid expenses 292 215 Deferred tax liabilities 10,757 8,792 Net deferred tax asset $ 15,603 $ 20,421 |
Basis of Presentation - Additio
Basis of Presentation - Additional Information (Detail) | Mar. 31, 2016Office |
Organization Consolidation And Presentation Of Financial Statements [Abstract] | |
Number of retail banking offices and loan production centers | 31 |
Stock Compensation - Additional
Stock Compensation - Additional Information (Detail) - USD ($) | 3 Months Ended | ||||
Mar. 31, 2016 | Mar. 31, 2015 | Dec. 31, 2015 | Apr. 30, 2015 | Apr. 26, 2007 | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||
Shares, Granted | 0 | 2,192 | |||
Weighted average remaining life for outstanding stock | 3 years 9 months 18 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] | |||||
Option expiry term (Years) | 10 years | ||||
Stock-based compensation expense | $ 3,000 | $ 6,000 | |||
Expected additional expense for 2016 | 5,000 | ||||
Expected additional expense for 2017 | $ 1,000 | ||||
Weighted-average recognition period of nonvested stock options expense | 1 year 3 months | ||||
Restricted Stock [Member] | |||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||
Stock-based compensation expense | $ 215,000 | 190,000 | |||
Expected additional expense for 2016 | 667,000 | ||||
Expected additional expense for 2017 | $ 549,000 | ||||
Nonvested shares | 370,510 | 260,490 | |||
Vested shares during 2016 | 67,103 | ||||
Vested shares during 2017 | 127,316 | ||||
Vested shares during 2018 | 97,224 | ||||
Vested shares during 2019 | 78,867 | ||||
Expected additional expense for 2018 | $ 383,000 | ||||
Expected additional expense for 2019 | $ 102,000 | ||||
Total average per share value of shares vested | $ 5.70 | ||||
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 | ||||
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 | ||||
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 | ||||
Executive Incentive Plan [Member] | |||||
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% | ||||
Executive Incentive Plan [Member] | Restricted Stock [Member] | |||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||
Stock-based compensation expense | $ 76,000 | 68,000 | |||
Executive Incentive Plan [Member] | Restricted Stock [Member] | Beginning on first anniversary of issue date [Member] | |||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||
Stock-based compensation vesting period | 3 years | ||||
Executive Incentive Plan [Member] | Cash Portion [Member] | |||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||
Stock-based compensation expense | $ 325,000 | 168,000 | |||
Long Term Incentive Plan [Member] | |||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||
Stock-based compensation expense | $ 96,000 | $ 48,000 |
Stock Compensation - Summary of
Stock Compensation - Summary of Activity in Plans (Detail) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ||
Shares, Outstanding at beginning of year | 572,323 | |
Shares, Granted | 0 | 2,192 |
Shares, Exercised | (8,000) | |
Shares, Forfeited and expired | (600) | |
Shares, Outstanding at end of period | 563,723 | |
Shares, Options exercisable at end of period | 551,775 | |
Weighted average exercise price, Outstanding at beginning of year | $ 2.56 | |
Weighted average exercise price, Exercised | 1.48 | |
Weighted average exercise price, Forfeited and expired | 2.10 | |
Weighted average exercise price, Outstanding at end of period | 2.58 | |
Weighted average exercise price, Options exercisable at the end of period | $ 2.53 | |
Aggregate intrinsic value, Outstanding at end of period | $ 1,854 | |
Aggregate intrinsic value, Options exercisable at the end of period | $ 1,845 |
Stock Compensation - Informatio
Stock Compensation - Information Related to Stock Option Plans (Detail) - USD ($) | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ||
Intrinsic value of options exercised | $ 33,920 | $ 26,400 |
Cash received from option exercises | $ 11,000 | $ 16,000 |
Weighted average fair value of options granted, per share | $ 1.93 |
Stock Compensation - Weighted-A
Stock Compensation - Weighted-Average Assumptions for Determining Fair Value of Options Granted (Detail) - Stock Option [Member] | 3 Months Ended |
Mar. 31, 2016 | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |
Risk-free interest rate | 1.49% |
Expected term (years) | 5 years |
Expected stock volatility | 36.66% |
Dividend yield | 0.75% |
Stock Compensation - Summary 40
Stock Compensation - Summary of Changes in Company's Nonvested Restricted Shares (Detail) - Restricted Stock [Member] | 3 Months Ended |
Mar. 31, 2016$ / sharesshares | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |
Shares, Nonvested shares, Beginning balance | shares | 260,490 |
Shares, Granted | shares | 159,238 |
Shares, Vested | shares | (48,204) |
Shares, Forfeited | shares | (1,014) |
Shares, Nonvested shares, Ending balance | shares | 370,510 |
Weighted average grant date fair value, Nonvested shares, Beginning balance | $ / shares | $ 4.68 |
Weighted average grant date fair value, Granted | $ / shares | 5.95 |
Weighted average grant date fair value, Vested | $ / shares | 4.74 |
Weighted average grant date fair value, Forfeited | $ / shares | 3.59 |
Weighted average grant date fair value, Nonvested shares, Ending balance | $ / shares | $ 5.22 |
Securities - Components of Avai
Securities - Components of Available for Sale Portfolio (Detail) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Schedule of Available-for-sale Securities [Line Items] | ||
Total amortized cost | $ 359,313 | $ 361,503 |
Available-for-sale securities, Gross unrealized gains | 6,073 | 406 |
Available-for-sale securities, Gross unrealized losses | (17) | (4,239) |
Total fair value | 365,369 | 357,670 |
U.S. Treasury and Government Sponsored Entities' Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total amortized cost | 208,369 | 221,500 |
Available-for-sale securities, Gross unrealized gains | 4,529 | 159 |
Available-for-sale securities, Gross unrealized losses | (3,009) | |
Total fair value | 212,898 | 218,650 |
States of the U.S. and Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total amortized cost | 35,294 | 10,848 |
Available-for-sale securities, Gross unrealized gains | 463 | 192 |
Available-for-sale securities, Gross unrealized losses | (17) | |
Total fair value | 35,740 | 11,040 |
Mortgage-Backed GSE Securities: Residential [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total amortized cost | 115,650 | 129,155 |
Available-for-sale securities, Gross unrealized gains | 1,081 | 55 |
Available-for-sale securities, Gross unrealized losses | (1,230) | |
Total fair value | $ 116,731 | $ 127,980 |
Securities - Components of Held
Securities - Components of Held to Maturity Securities Portfolio (Detail) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Schedule Of Held To Maturity Securities [Line Items] | ||
Held to maturity securities, Total amortized cost | $ 107,838 | $ 110,699 |
Held to maturity securities, Gross unrecognized gains | 864 | 148 |
Held to maturity securities, Gross unrecognized losses | (1,203) | |
Held to maturity securities, Fair value | 108,702 | 109,644 |
Mortgage-Backed GSE Securities: Residential [Member] | ||
Schedule Of Held To Maturity Securities [Line Items] | ||
Held to maturity securities, Total amortized cost | 97,467 | 100,322 |
Held to maturity securities, Gross unrecognized gains | 606 | |
Held to maturity securities, Gross unrecognized losses | (1,203) | |
Held to maturity securities, Fair value | 98,073 | 99,119 |
States of the U.S. and Political Subdivisions [Member] | ||
Schedule Of Held To Maturity Securities [Line Items] | ||
Held to maturity securities, Total amortized cost | 10,371 | 10,377 |
Held to maturity securities, Gross unrecognized gains | 258 | 148 |
Held to maturity securities, Fair value | $ 10,629 | $ 10,525 |
Securities - Debt Securities Av
Securities - Debt Securities Available for Sale by Contractual Maturity (Detail) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Available For Sale Securities Debt Maturities [Abstract] | ||
Due after five years through ten years, amortized cost | $ 189,869 | |
Due after ten years, amortized cost | 53,794 | |
Mortgage-backed GSE securities: residential, amortized cost | 115,650 | |
Total amortized cost | 359,313 | $ 361,503 |
Due after five years through ten years, fair value | 193,962 | |
Due after ten years, fair value | 54,676 | |
Mortgage-backed GSE securities: residential, fair value | 116,731 | |
Total fair value | $ 365,369 | $ 357,670 |
Securities - Debt Securities He
Securities - Debt Securities Held to Maturity by Contractual Maturity (Detail) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Investments Debt And Equity Securities [Abstract] | ||
Due in one year or less, amortized cost | $ 1,100 | |
Due after five years through ten years, amortized cost | 3,270 | |
Due after ten years, amortized cost | 6,001 | |
Mortgage-backed GSE securities: residential, amortized cost | 97,467 | |
Held to maturity securities, Total amortized cost | 107,838 | $ 110,699 |
Due in one year or less, fair value | 1,107 | |
Due after five years through ten years, fair value | 3,370 | |
Due after ten years, fair value | 6,152 | |
Mortgage-backed GSE securities: residential, fair value | 98,073 | |
Held to maturity securities, Total fair value | $ 108,702 | $ 109,644 |
Securities - Additional Informa
Securities - Additional Information (Detail) - USD ($) | 3 Months Ended | |||
Mar. 31, 2016 | Sep. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2015 | |
Investments Debt And Equity Securities [Abstract] | ||||
Securities pledged for public funds | $ 138,500,000 | $ 107,100,000 | ||
Available for sale securities transferred to held to maturity, total amortized cost | $ 105,300,000 | |||
Available for sale securities transferred to held to maturity fair value | 103,800,000 | |||
Net unrealized loss, net of taxes, on securities at date of transfer | $ (999,000) | |||
Proceeds from the sale of securities available for sale | 18,134,000 | $ 5,153,000 | ||
Gross gains realized on sales of securities available for sale | 153,000 | 11,000 | ||
Income tax expense related to net realized gains | $ 54,000 | $ 4,000 |
Securities - Securities Availab
Securities - Securities Available for Sale in Unrealized Loss Position (Detail) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Schedule of Available-for-sale Securities [Line Items] | ||
Fair value, Less than 12 months | $ 8,272 | $ 240,461 |
Unrealized loss, Less than 12 months | (17) | (2,496) |
Fair value, 12 months or more | 69,333 | |
Unrealized loss, 12 months or more | (1,743) | |
Total Fair value | 8,272 | 309,794 |
Total, unrealized loss | (17) | (4,239) |
U.S. Treasury and Government Sponsored Entities' Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair value, Less than 12 months | 139,876 | |
Unrealized loss, Less than 12 months | (1,654) | |
Fair value, 12 months or more | 55,055 | |
Unrealized loss, 12 months or more | (1,355) | |
Total Fair value | 194,931 | |
Total, unrealized loss | (3,009) | |
States of the U.S. and Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair value, Less than 12 months | 8,272 | |
Unrealized loss, Less than 12 months | (17) | |
Total Fair value | 8,272 | |
Total, unrealized loss | $ (17) | |
Mortgage-Backed GSE Securities: Residential [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Fair value, Less than 12 months | 100,585 | |
Unrealized loss, Less than 12 months | (842) | |
Fair value, 12 months or more | 14,278 | |
Unrealized loss, 12 months or more | (388) | |
Total Fair value | 114,863 | |
Total, unrealized loss | $ (1,230) |
Securities - Securities Held to
Securities - Securities Held to Maturity in Unrecognized Loss Position (Detail) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Schedule Of Held To Maturity Securities [Line Items] | ||
Fair value, Less than 12 months | $ 22,723 | |
Unrealized loss, Less than 12 months | (289) | |
Fair value, 12 months or more | $ 75,672 | 76,396 |
Unrealized loss, 12 months or more | (860) | (2,390) |
Total fair value | 75,672 | 99,119 |
Total unrealized loss | (860) | (2,679) |
Mortgage-Backed GSE Securities: Residential [Member] | ||
Schedule Of Held To Maturity Securities [Line Items] | ||
Fair value, Less than 12 months | 22,723 | |
Unrealized loss, Less than 12 months | (289) | |
Fair value, 12 months or more | 75,672 | 76,396 |
Unrealized loss, 12 months or more | (860) | (2,390) |
Total fair value | 75,672 | 99,119 |
Total unrealized loss | $ (860) | $ (2,679) |
Loans - Schedule of Portfolio o
Loans - Schedule of Portfolio of Loans (Detail) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 | Mar. 31, 2015 | Dec. 31, 2014 |
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Total commercial loans | $ 406,912 | $ 369,752 | ||
Total residential mortgage loans | 780,395 | 774,583 | ||
Total consumer loans | 187,323 | 188,258 | ||
Total loans | 1,374,630 | 1,332,593 | ||
Allowance for loan losses | 16,903 | 17,712 | $ 17,221 | $ 17,687 |
Deferred loan costs, net | (1,419) | (1,311) | ||
Total | 15,484 | 16,401 | ||
Loans, net | 1,359,146 | 1,316,192 | ||
Multifamily [Member] | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Total commercial loans | 80,581 | 80,170 | ||
Nonresidential [Member] | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Total commercial loans | 184,279 | 175,456 | ||
Land [Member] | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Total commercial loans | 8,938 | 9,301 | ||
Construction [Member] | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Total commercial loans | 49,858 | 38,812 | ||
Total residential mortgage loans | 38,994 | 40,898 | ||
Secured [Member] | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Total commercial loans | 79,074 | 63,182 | ||
Unsecured [Member] | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Total commercial loans | 4,182 | 2,831 | ||
One-to Four-Family [Member] | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Total residential mortgage loans | 741,401 | 733,685 | ||
Home Equity [Member] | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Total consumer loans | 158,933 | 161,338 | ||
Auto [Member] | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Total consumer loans | 13,752 | 11,348 | ||
Marine [Member] | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Total consumer loans | 2,603 | 2,699 | ||
Recreational Vehicle [Member] | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Total consumer loans | 9,677 | 10,656 | ||
Other [Member] | ||||
Financing Receivable Allowance For Credit Losses [Line Items] | ||||
Total consumer loans | $ 2,358 | $ 2,217 |
Loans - Investment in Loans by
Loans - Investment in Loans by Portfolio Segment and Based on Impairment (Detail) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | Dec. 31, 2015 | |
Financing Receivable Allowance For Credit Losses [Line Items] | |||
Allowance, Beginning balance | $ 17,712 | $ 17,687 | |
Provision (recovery) for loan losses | 2,155 | (184) | |
Charge-offs | (3,187) | (712) | |
Recoveries | 223 | 430 | |
Allowance, Ending balance | 16,903 | 17,221 | |
Allowance, Loans individually evaluated for impairment | 3,022 | 3,193 | $ 2,816 |
Allowance, Loans collectively evaluated for impairment | 13,881 | 14,896 | |
Period-end balances, Loans individually evaluated for impairment | 42,611 | 39,659 | |
Period-end balances, Loans collectively evaluated for impairment | 1,332,019 | 1,292,934 | |
Total loans | 1,374,630 | 1,332,593 | |
Commercial Loans [Member] | |||
Financing Receivable Allowance For Credit Losses [Line Items] | |||
Allowance, Beginning balance | 8,077 | 5,690 | |
Provision (recovery) for loan losses | 2,724 | 158 | |
Charge-offs | (2,346) | (15) | |
Recoveries | 66 | 112 | |
Allowance, Ending balance | 8,521 | 5,945 | |
Allowance, Loans individually evaluated for impairment | 1,029 | 682 | 568 |
Allowance, Loans collectively evaluated for impairment | 7,492 | 7,509 | |
Period-end balances, Loans individually evaluated for impairment | 14,180 | 9,698 | |
Period-end balances, Loans collectively evaluated for impairment | 392,732 | 360,054 | |
Total loans | 406,912 | 369,752 | |
Residential Mortgage Loans [Member] | |||
Financing Receivable Allowance For Credit Losses [Line Items] | |||
Allowance, Beginning balance | 6,630 | 8,517 | |
Provision (recovery) for loan losses | (594) | (871) | |
Charge-offs | (362) | (166) | |
Recoveries | 62 | 186 | |
Allowance, Ending balance | 5,736 | 7,666 | |
Allowance, Loans individually evaluated for impairment | 1,407 | 1,707 | 1,541 |
Allowance, Loans collectively evaluated for impairment | 4,329 | 5,089 | |
Period-end balances, Loans individually evaluated for impairment | 18,791 | 19,348 | |
Period-end balances, Loans collectively evaluated for impairment | 761,604 | 755,235 | |
Total loans | 780,395 | 774,583 | |
Consumer Loans [Member] | |||
Financing Receivable Allowance For Credit Losses [Line Items] | |||
Allowance, Beginning balance | 3,005 | 3,480 | |
Provision (recovery) for loan losses | 25 | 529 | |
Charge-offs | (479) | (531) | |
Recoveries | 95 | 132 | |
Allowance, Ending balance | 2,646 | 3,610 | |
Allowance, Loans individually evaluated for impairment | 586 | $ 804 | 707 |
Allowance, Loans collectively evaluated for impairment | 2,060 | 2,298 | |
Period-end balances, Loans individually evaluated for impairment | 9,640 | 10,613 | |
Period-end balances, Loans collectively evaluated for impairment | 177,683 | 177,645 | |
Total loans | $ 187,323 | $ 188,258 |
Loans - Presentation of Loans I
Loans - Presentation of Loans Individually Evaluated for Impairment by Class (Detail) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | Dec. 31, 2015 | |
Financing Receivable Impaired [Line Items] | |||
With no specific allowance recorded, Unpaid Principal Balance | $ 24,562 | $ 24,010 | $ 24,403 |
With no specific allowance recorded, Recorded Investment | 12,313 | 13,677 | 12,340 |
With no specific allowance recorded, Average Recorded Investment | 12,328 | 16,155 | |
With no specific allowance recorded, Interest Income Recognized | 25 | 31 | |
With no specific allowance recorded, Cash Basis Income Recognized | 18 | 20 | |
With a specific allowance recorded, Unpaid Principal Balance | 32,816 | 34,261 | 27,499 |
With a specific allowance recorded, Recorded Investment | 30,298 | 32,126 | 27,319 |
With a specific allowance recorded, Allowance for Loan Losses Allocated | 3,022 | 3,193 | 2,816 |
With a specific allowance recorded, Average Recorded Investment | 28,809 | 30,363 | |
With a specific allowance recorded, Interest Income Recognized | 417 | 447 | |
With a specific allowance recorded, Cash Basis Income Recognized | 342 | 295 | |
Total Unpaid Principal Balance | 57,378 | 58,271 | 51,902 |
Total Recorded Investment | 42,611 | 45,803 | 39,659 |
Total Average Recorded Investment | 41,137 | 46,518 | |
Total Interest Income Recognized | 442 | 478 | |
Total Cash Basis Income Recognized | 360 | 315 | |
Commercial Loans [Member] | |||
Financing Receivable Impaired [Line Items] | |||
With no specific allowance recorded, Unpaid Principal Balance | 13,638 | 14,926 | 13,911 |
With no specific allowance recorded, Recorded Investment | 4,296 | 6,955 | 4,390 |
With no specific allowance recorded, Average Recorded Investment | 4,343 | 8,641 | |
With no specific allowance recorded, Interest Income Recognized | 1 | 1 | |
With no specific allowance recorded, Cash Basis Income Recognized | 1 | 1 | |
With a specific allowance recorded, Unpaid Principal Balance | 12,402 | 9,689 | 5,488 |
With a specific allowance recorded, Recorded Investment | 9,884 | 7,554 | 5,308 |
With a specific allowance recorded, Allowance for Loan Losses Allocated | 1,029 | 682 | 568 |
With a specific allowance recorded, Average Recorded Investment | 7,596 | 5,327 | |
With a specific allowance recorded, Interest Income Recognized | 109 | 37 | |
With a specific allowance recorded, Cash Basis Income Recognized | 107 | 37 | |
Commercial Loans [Member] | Multifamily [Member] | |||
Financing Receivable Impaired [Line Items] | |||
With no specific allowance recorded, Unpaid Principal Balance | 97 | 197 | 165 |
With no specific allowance recorded, Recorded Investment | 85 | ||
With no specific allowance recorded, Average Recorded Investment | 86 | ||
With a specific allowance recorded, Average Recorded Investment | 21 | ||
Commercial Loans [Member] | Nonresidential [Member] | |||
Financing Receivable Impaired [Line Items] | |||
With no specific allowance recorded, Unpaid Principal Balance | 1,042 | 4,258 | 1,215 |
With no specific allowance recorded, Recorded Investment | 212 | 2,450 | 306 |
With no specific allowance recorded, Average Recorded Investment | 259 | 3,880 | |
With no specific allowance recorded, Interest Income Recognized | 1 | 1 | |
With no specific allowance recorded, Cash Basis Income Recognized | 1 | 1 | |
With a specific allowance recorded, Unpaid Principal Balance | 11,348 | 6,550 | 5,164 |
With a specific allowance recorded, Recorded Investment | 8,924 | 6,367 | 4,984 |
With a specific allowance recorded, Allowance for Loan Losses Allocated | 936 | 586 | 565 |
With a specific allowance recorded, Average Recorded Investment | 6,954 | 3,644 | |
With a specific allowance recorded, Interest Income Recognized | 109 | 37 | |
With a specific allowance recorded, Cash Basis Income Recognized | 107 | 37 | |
Commercial Loans [Member] | Land [Member] | |||
Financing Receivable Impaired [Line Items] | |||
With no specific allowance recorded, Unpaid Principal Balance | 3,922 | 3,958 | 3,922 |
With no specific allowance recorded, Recorded Investment | 384 | 532 | 384 |
With no specific allowance recorded, Average Recorded Investment | 384 | 532 | |
Commercial Loans [Member] | Construction [Member] | |||
Financing Receivable Impaired [Line Items] | |||
With no specific allowance recorded, Unpaid Principal Balance | 3,593 | 1,126 | 3,593 |
With no specific allowance recorded, Recorded Investment | 188 | ||
With no specific allowance recorded, Average Recorded Investment | 439 | ||
With a specific allowance recorded, Unpaid Principal Balance | 2,815 | ||
With a specific allowance recorded, Recorded Investment | 863 | ||
With a specific allowance recorded, Allowance for Loan Losses Allocated | 93 | ||
With a specific allowance recorded, Average Recorded Investment | 1,338 | ||
Commercial Loans [Member] | Secured [Member] | |||
Financing Receivable Impaired [Line Items] | |||
With no specific allowance recorded, Unpaid Principal Balance | 3,860 | 3,898 | 3,884 |
With no specific allowance recorded, Recorded Investment | 3,700 | 3,700 | 3,700 |
With no specific allowance recorded, Average Recorded Investment | 3,700 | 3,704 | |
With a specific allowance recorded, Unpaid Principal Balance | 1,054 | 324 | 324 |
With a specific allowance recorded, Recorded Investment | 960 | 324 | 324 |
With a specific allowance recorded, Allowance for Loan Losses Allocated | 93 | 3 | 3 |
With a specific allowance recorded, Average Recorded Investment | 642 | 324 | |
Commercial Loans [Member] | Unsecured [Member] | |||
Financing Receivable Impaired [Line Items] | |||
With no specific allowance recorded, Unpaid Principal Balance | 1,124 | 1,489 | 1,132 |
Residential Mortgage Loans [Member] | |||
Financing Receivable Impaired [Line Items] | |||
With no specific allowance recorded, Unpaid Principal Balance | 7,875 | 6,134 | 7,607 |
With no specific allowance recorded, Recorded Investment | 6,081 | 4,649 | 5,866 |
With no specific allowance recorded, Average Recorded Investment | 5,974 | 5,341 | |
With no specific allowance recorded, Interest Income Recognized | 20 | 18 | |
With no specific allowance recorded, Cash Basis Income Recognized | 14 | 10 | |
With a specific allowance recorded, Unpaid Principal Balance | 12,710 | 14,595 | 13,482 |
With a specific allowance recorded, Recorded Investment | 12,710 | 14,595 | 13,482 |
With a specific allowance recorded, Allowance for Loan Losses Allocated | 1,407 | 1,707 | 1,541 |
With a specific allowance recorded, Average Recorded Investment | 13,096 | 14,630 | |
With a specific allowance recorded, Interest Income Recognized | 189 | 228 | |
With a specific allowance recorded, Cash Basis Income Recognized | 136 | 138 | |
Residential Mortgage Loans [Member] | One-to Four-Family [Member] | |||
Financing Receivable Impaired [Line Items] | |||
With no specific allowance recorded, Unpaid Principal Balance | 7,875 | 6,134 | 7,607 |
With no specific allowance recorded, Recorded Investment | 6,081 | 4,649 | 5,866 |
With no specific allowance recorded, Average Recorded Investment | 5,974 | 5,341 | |
With no specific allowance recorded, Interest Income Recognized | 20 | 18 | |
With no specific allowance recorded, Cash Basis Income Recognized | 14 | 10 | |
With a specific allowance recorded, Unpaid Principal Balance | 12,710 | 14,595 | 13,482 |
With a specific allowance recorded, Recorded Investment | 12,710 | 14,595 | 13,482 |
With a specific allowance recorded, Allowance for Loan Losses Allocated | 1,407 | 1,707 | 1,541 |
With a specific allowance recorded, Average Recorded Investment | 13,096 | 14,630 | |
With a specific allowance recorded, Interest Income Recognized | 189 | 228 | |
With a specific allowance recorded, Cash Basis Income Recognized | 136 | 138 | |
Consumer Loans [Member] | |||
Financing Receivable Impaired [Line Items] | |||
With no specific allowance recorded, Unpaid Principal Balance | 3,049 | 2,950 | 2,885 |
With no specific allowance recorded, Recorded Investment | 1,936 | 2,073 | 2,084 |
With no specific allowance recorded, Average Recorded Investment | 2,011 | 2,173 | |
With no specific allowance recorded, Interest Income Recognized | 4 | 12 | |
With no specific allowance recorded, Cash Basis Income Recognized | 3 | 9 | |
With a specific allowance recorded, Unpaid Principal Balance | 7,704 | 9,977 | 8,529 |
With a specific allowance recorded, Recorded Investment | 7,704 | 9,977 | 8,529 |
With a specific allowance recorded, Allowance for Loan Losses Allocated | 586 | 804 | 707 |
With a specific allowance recorded, Average Recorded Investment | 8,117 | 10,406 | |
With a specific allowance recorded, Interest Income Recognized | 119 | 182 | |
With a specific allowance recorded, Cash Basis Income Recognized | 99 | 120 | |
Consumer Loans [Member] | Home Equity [Member] | |||
Financing Receivable Impaired [Line Items] | |||
With no specific allowance recorded, Unpaid Principal Balance | 1,951 | 2,294 | 2,245 |
With no specific allowance recorded, Recorded Investment | 1,332 | 1,679 | 1,718 |
With no specific allowance recorded, Average Recorded Investment | 1,525 | 1,739 | |
With no specific allowance recorded, Interest Income Recognized | 3 | 9 | |
With no specific allowance recorded, Cash Basis Income Recognized | 2 | 6 | |
With a specific allowance recorded, Unpaid Principal Balance | 6,857 | 9,256 | 7,236 |
With a specific allowance recorded, Recorded Investment | 6,857 | 9,256 | 7,236 |
With a specific allowance recorded, Allowance for Loan Losses Allocated | 497 | 687 | 522 |
With a specific allowance recorded, Average Recorded Investment | 7,047 | 9,662 | |
With a specific allowance recorded, Interest Income Recognized | 110 | 169 | |
With a specific allowance recorded, Cash Basis Income Recognized | 90 | 114 | |
Consumer Loans [Member] | Auto [Member] | |||
Financing Receivable Impaired [Line Items] | |||
With no specific allowance recorded, Unpaid Principal Balance | 15 | 40 | 20 |
With no specific allowance recorded, Recorded Investment | 9 | 32 | 14 |
With no specific allowance recorded, Average Recorded Investment | 12 | 61 | |
With a specific allowance recorded, Unpaid Principal Balance | 5 | ||
With a specific allowance recorded, Recorded Investment | 5 | ||
With a specific allowance recorded, Average Recorded Investment | 7 | ||
Consumer Loans [Member] | Marine [Member] | |||
Financing Receivable Impaired [Line Items] | |||
With no specific allowance recorded, Unpaid Principal Balance | 546 | 519 | 496 |
With no specific allowance recorded, Recorded Investment | 303 | 293 | 271 |
With no specific allowance recorded, Average Recorded Investment | 287 | 189 | |
With no specific allowance recorded, Interest Income Recognized | 2 | ||
With no specific allowance recorded, Cash Basis Income Recognized | 2 | ||
With a specific allowance recorded, Unpaid Principal Balance | 159 | 163 | |
With a specific allowance recorded, Recorded Investment | 159 | 163 | |
With a specific allowance recorded, Allowance for Loan Losses Allocated | 3 | 3 | |
With a specific allowance recorded, Average Recorded Investment | 161 | ||
With a specific allowance recorded, Interest Income Recognized | 2 | ||
With a specific allowance recorded, Cash Basis Income Recognized | 2 | ||
Consumer Loans [Member] | Recreational Vehicle [Member] | |||
Financing Receivable Impaired [Line Items] | |||
With no specific allowance recorded, Unpaid Principal Balance | 534 | 97 | 121 |
With no specific allowance recorded, Recorded Investment | 289 | 69 | 78 |
With no specific allowance recorded, Average Recorded Investment | 184 | 181 | |
With no specific allowance recorded, Interest Income Recognized | 1 | 1 | |
With no specific allowance recorded, Cash Basis Income Recognized | 1 | 1 | |
With a specific allowance recorded, Unpaid Principal Balance | 688 | 716 | 1,122 |
With a specific allowance recorded, Recorded Investment | 688 | 716 | 1,122 |
With a specific allowance recorded, Allowance for Loan Losses Allocated | 86 | 117 | 181 |
With a specific allowance recorded, Average Recorded Investment | 905 | 737 | |
With a specific allowance recorded, Interest Income Recognized | 7 | 13 | |
With a specific allowance recorded, Cash Basis Income Recognized | 7 | 6 | |
Consumer Loans [Member] | Other [Member] | |||
Financing Receivable Impaired [Line Items] | |||
With no specific allowance recorded, Unpaid Principal Balance | 3 | 3 | |
With no specific allowance recorded, Recorded Investment | 3 | 3 | |
With no specific allowance recorded, Average Recorded Investment | 3 | $ 3 | |
With a specific allowance recorded, Unpaid Principal Balance | 8 | ||
With a specific allowance recorded, Recorded Investment | 8 | ||
With a specific allowance recorded, Allowance for Loan Losses Allocated | $ 1 | ||
With a specific allowance recorded, Average Recorded Investment | $ 4 |
Loans - Additional Information
Loans - Additional Information (Detail) - USD ($) | 3 Months Ended | |||
Mar. 31, 2016 | Mar. 31, 2015 | Dec. 31, 2015 | Dec. 31, 2014 | |
Accounts Notes And Loans Receivable [Line Items] | ||||
Total unpaid principal balance outstanding | $ 32,816,000 | $ 34,261,000 | $ 27,499,000 | |
Protracted litigation and reserve | 546,000 | |||
Allowance for loan losses | 16,903,000 | 17,221,000 | 17,712,000 | $ 17,687,000 |
Amounts charged off | $ 3,187,000 | $ 712,000 | ||
Troubled debt restructuring period past due considered payment default | 30 days | |||
Period of cumulative homogeneous loans past due included in company analysis | 90 days | |||
Troubled Debt Restructuring [Member] | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Recorded investment in trouble debt restructuring | $ 25,500,000 | 26,300,000 | ||
Allowance for loan losses | 2,000,000 | 2,300,000 | ||
commitment to lend additional amounts | 23,000 | $ 42,000 | ||
Increment in allowance for loan losses | 5,000 | $ 58,000 | ||
Amounts charged off | 30,000 | 0 | ||
TDRs with Subsequent Default [Member] | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Increment in allowance for loan losses | 3,000 | 0 | ||
Amounts charged off | 0 | $ 0 | ||
Secured [Member] | Nonresidential [Member] | ||||
Accounts Notes And Loans Receivable [Line Items] | ||||
Total unpaid principal balance outstanding | $ 7,000,000 |
Loans - Loans in Process of For
Loans - Loans in Process of Foreclosure (Detail) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 | Mar. 31, 2015 |
Financing Receivable Impaired [Line Items] | |||
Unpaid Principal Balance | $ 57,378 | $ 51,902 | $ 58,271 |
Total Recorded Investment | 42,611 | 39,659 | |
Residential Mortgage Loans [Member] | Loans In Process Of Foreclosure [Member] | |||
Financing Receivable Impaired [Line Items] | |||
Unpaid Principal Balance | 2,690 | 1,294 | |
Total Recorded Investment | 2,360 | 1,162 | |
Consumer Loans [Member] | Loans In Process Of Foreclosure [Member] | |||
Financing Receivable Impaired [Line Items] | |||
Unpaid Principal Balance | 1,036 | 845 | |
Total Recorded Investment | $ 799 | $ 643 |
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 | Mar. 31, 2016 | Dec. 31, 2015 |
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing receivable, recorded investment, Nonaccrual | $ 20,105 | $ 16,747 |
Commercial Loans [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing receivable, recorded investment, Nonaccrual | 12,593 | 7,999 |
Commercial Loans [Member] | Nonresidential [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing receivable, recorded investment, Nonaccrual | 7,557 | 3,599 |
Commercial Loans [Member] | Land [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing receivable, recorded investment, Nonaccrual | 384 | 384 |
Commercial Loans [Member] | Secured [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing receivable, recorded investment, Nonaccrual | 4,652 | 4,016 |
Residential Mortgage Loans [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing receivable, recorded investment, Nonaccrual | 5,312 | 6,181 |
Residential Mortgage Loans [Member] | One-to Four-Family [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing receivable, recorded investment, Nonaccrual | 5,312 | 6,181 |
Consumer Loans [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing receivable, recorded investment, Nonaccrual | 2,200 | 2,567 |
Consumer Loans [Member] | Home Equity [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing receivable, recorded investment, Nonaccrual | 1,635 | 1,804 |
Consumer Loans [Member] | Auto [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing receivable, recorded investment, Nonaccrual | 28 | 23 |
Consumer Loans [Member] | Marine [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing receivable, recorded investment, Nonaccrual | 249 | 218 |
Consumer Loans [Member] | Recreational Vehicle [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing receivable, recorded investment, Nonaccrual | 285 | 511 |
Consumer Loans [Member] | Other [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Financing receivable, recorded investment, Nonaccrual | $ 3 | $ 11 |
Loans - Presentation of Age Ana
Loans - Presentation of Age Analysis of Past-Due Loans, Segregated by Class of Loans (Detail) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | $ 20,680 | $ 22,617 |
Current Loans | 1,353,950 | 1,309,976 |
Total loans | 1,374,630 | 1,332,593 |
30-59 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 3,170 | 5,383 |
60-89 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 1,847 | 955 |
Greater than 90 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 15,663 | 16,279 |
Commercial Loans [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 8,578 | 8,446 |
Current Loans | 398,334 | 361,306 |
Total loans | 406,912 | 369,752 |
Commercial Loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 29 | 488 |
Commercial Loans [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 9 | |
Commercial Loans [Member] | Greater than 90 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 8,540 | 7,958 |
Commercial Loans [Member] | Multifamily [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current Loans | 80,581 | 80,170 |
Total loans | 80,581 | 80,170 |
Commercial Loans [Member] | Nonresidential [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 3,542 | 3,558 |
Current Loans | 180,737 | 171,898 |
Total loans | 184,279 | 175,456 |
Commercial Loans [Member] | Nonresidential [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 29 | |
Commercial Loans [Member] | Nonresidential [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 9 | |
Commercial Loans [Member] | Nonresidential [Member] | Greater than 90 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 3,504 | 3,558 |
Commercial Loans [Member] | Land [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 384 | 384 |
Current Loans | 8,554 | 8,917 |
Total loans | 8,938 | 9,301 |
Commercial Loans [Member] | Land [Member] | Greater than 90 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 384 | 384 |
Commercial Loans [Member] | Construction [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current Loans | 49,858 | 38,812 |
Total loans | 49,858 | 38,812 |
Commercial Loans [Member] | Secured [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 4,652 | 4,504 |
Current Loans | 74,422 | 58,678 |
Total loans | 79,074 | 63,182 |
Commercial Loans [Member] | Secured [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 488 | |
Commercial Loans [Member] | Secured [Member] | Greater than 90 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 4,652 | 4,016 |
Commercial Loans [Member] | Unsecured [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current Loans | 4,182 | 2,831 |
Total loans | 4,182 | 2,831 |
Residential Mortgage Loans [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 8,864 | 10,379 |
Current Loans | 771,531 | 764,204 |
Total loans | 780,395 | 774,583 |
Residential Mortgage Loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 2,346 | 3,843 |
Residential Mortgage Loans [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 1,449 | 635 |
Residential Mortgage Loans [Member] | Greater than 90 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 5,069 | 5,901 |
Residential Mortgage Loans [Member] | Construction [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current Loans | 38,994 | 40,898 |
Total loans | 38,994 | 40,898 |
Residential Mortgage Loans [Member] | One-to Four-Family [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 8,864 | 10,379 |
Current Loans | 732,537 | 723,306 |
Total loans | 741,401 | 733,685 |
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 | 2,346 | 3,843 |
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 | 1,449 | 635 |
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 | 5,069 | 5,901 |
Consumer Loans [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 3,238 | 3,792 |
Current Loans | 184,085 | 184,466 |
Total loans | 187,323 | 188,258 |
Consumer Loans [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 795 | 1,052 |
Consumer Loans [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 389 | 320 |
Consumer Loans [Member] | Greater than 90 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 2,054 | 2,420 |
Consumer Loans [Member] | Home Equity [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 2,522 | 3,017 |
Current Loans | 156,411 | 158,321 |
Total loans | 158,933 | 161,338 |
Consumer Loans [Member] | Home Equity [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 511 | 961 |
Consumer Loans [Member] | Home Equity [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 380 | 268 |
Consumer Loans [Member] | Home Equity [Member] | Greater than 90 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 1,631 | 1,788 |
Consumer Loans [Member] | Automobile [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 29 | 15 |
Current Loans | 13,723 | 11,333 |
Total loans | 13,752 | 11,348 |
Consumer Loans [Member] | Automobile [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 3 | 5 |
Consumer Loans [Member] | Automobile [Member] | Greater than 90 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 26 | 10 |
Consumer Loans [Member] | Marine [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 272 | 168 |
Current Loans | 2,331 | 2,531 |
Total loans | 2,603 | 2,699 |
Consumer Loans [Member] | Marine [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 163 | |
Consumer Loans [Member] | Marine [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 51 | |
Consumer Loans [Member] | Marine [Member] | Greater than 90 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 109 | 117 |
Consumer Loans [Member] | Recreational Vehicle [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 405 | 565 |
Current Loans | 9,272 | 10,091 |
Total loans | 9,677 | 10,656 |
Consumer Loans [Member] | Recreational Vehicle [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 115 | 71 |
Consumer Loans [Member] | Recreational Vehicle [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 5 | |
Consumer Loans [Member] | Recreational Vehicle [Member] | Greater than 90 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 285 | 494 |
Consumer Loans [Member] | Other [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 10 | 27 |
Current Loans | 2,348 | 2,190 |
Total loans | 2,358 | 2,217 |
Consumer Loans [Member] | Other [Member] | 30-59 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 3 | 15 |
Consumer Loans [Member] | Other [Member] | 60-89 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | 4 | 1 |
Consumer Loans [Member] | Other [Member] | Greater than 90 Days Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Total Past Due | $ 3 | $ 11 |
Loans - Loans by Class Modified
Loans - Loans by Class Modified as Troubled Debt Restructurings (Detail) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016USD ($)Loan | Mar. 31, 2015USD ($)Loan | |
Financing Receivable Modifications [Line Items] | ||
Number of Loans | Loan | 4 | 7 |
Pre-Modification Outstanding Recorded Investment | $ 327 | $ 795 |
Post-Modification Recorded Investment | $ 345 | $ 808 |
Commercial Loans [Member] | ||
Financing Receivable Modifications [Line Items] | ||
Number of Loans | Loan | 1 | |
Pre-Modification Outstanding Recorded Investment | $ 88 | |
Post-Modification Recorded Investment | $ 88 | |
Commercial Loans [Member] | Nonresidential [Member] | ||
Financing Receivable Modifications [Line Items] | ||
Number of Loans | Loan | 1 | |
Pre-Modification Outstanding Recorded Investment | $ 88 | |
Post-Modification Recorded Investment | $ 88 | |
Residential Mortgage Loans [Member] | ||
Financing Receivable Modifications [Line Items] | ||
Number of Loans | Loan | 2 | 5 |
Pre-Modification Outstanding Recorded Investment | $ 219 | $ 441 |
Post-Modification Recorded Investment | $ 237 | $ 454 |
Residential Mortgage Loans [Member] | One-to Four-Family [Member] | ||
Financing Receivable Modifications [Line Items] | ||
Number of Loans | Loan | 2 | 5 |
Pre-Modification Outstanding Recorded Investment | $ 219 | $ 441 |
Post-Modification Recorded Investment | $ 237 | $ 454 |
Consumer Loans [Member] | ||
Financing Receivable Modifications [Line Items] | ||
Number of Loans | Loan | 1 | 2 |
Pre-Modification Outstanding Recorded Investment | $ 20 | $ 354 |
Post-Modification Recorded Investment | $ 20 | $ 354 |
Consumer Loans [Member] | Home Equity [Member] | ||
Financing Receivable Modifications [Line Items] | ||
Number of Loans | Loan | 1 | 2 |
Pre-Modification Outstanding Recorded Investment | $ 20 | $ 354 |
Post-Modification Recorded Investment | $ 20 | $ 354 |
Loans - Loans by Class Modifi56
Loans - Loans by Class Modified as Troubled Debt Restructurings with Payment Default (Detail) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016USD ($)Loan | Mar. 31, 2015USD ($)Loan | |
Financing Receivable Modifications [Line Items] | ||
Number of loans | Loan | 2 | 3 |
Recorded Investment | $ | $ 25 | $ 232 |
Residential Mortgage Loans [Member] | ||
Financing Receivable Modifications [Line Items] | ||
Number of loans | Loan | 2 | 2 |
Recorded Investment | $ | $ 25 | $ 217 |
Residential Mortgage Loans [Member] | One-to Four-Family [Member] | ||
Financing Receivable Modifications [Line Items] | ||
Number of loans | Loan | 2 | 2 |
Recorded Investment | $ | $ 25 | $ 217 |
Consumer Loans [Member] | ||
Financing Receivable Modifications [Line Items] | ||
Number of loans | Loan | 1 | |
Recorded Investment | $ | $ 15 | |
Consumer Loans [Member] | Home Equity [Member] | ||
Financing Receivable Modifications [Line Items] | ||
Number of loans | Loan | 1 | |
Recorded Investment | $ | $ 15 |
Loans - Risk Category of Loans
Loans - Risk Category of Loans by Class of Loans (Detail) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | $ 1,374,630 | $ 1,332,593 |
Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 1,330,528 | 1,284,494 |
Special Mention [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 6,232 | 10,998 |
Substandard [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 37,870 | 37,101 |
Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 37,870 | 37,101 |
Commercial Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 406,912 | 369,752 |
Commercial Loans [Member] | Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 371,190 | 331,208 |
Commercial Loans [Member] | Special Mention [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 6,123 | 10,885 |
Commercial Loans [Member] | Substandard [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 29,599 | 27,659 |
Commercial Loans [Member] | Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 29,599 | 27,659 |
Commercial Loans [Member] | Multifamily [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 80,581 | 80,170 |
Commercial Loans [Member] | Multifamily [Member] | Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 76,001 | 75,535 |
Commercial Loans [Member] | Multifamily [Member] | Special Mention [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 3,685 | 3,727 |
Commercial Loans [Member] | Multifamily [Member] | Substandard [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 895 | 908 |
Commercial Loans [Member] | Multifamily [Member] | Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 895 | 908 |
Commercial Loans [Member] | Nonresidential [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 184,279 | 175,456 |
Commercial Loans [Member] | Nonresidential [Member] | Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 164,085 | 151,415 |
Commercial Loans [Member] | Nonresidential [Member] | Special Mention [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 2,416 | 4,121 |
Commercial Loans [Member] | Nonresidential [Member] | Substandard [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 17,778 | 19,920 |
Commercial Loans [Member] | Nonresidential [Member] | Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 17,778 | 19,920 |
Commercial Loans [Member] | Land [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 8,938 | 9,301 |
Commercial Loans [Member] | Land [Member] | Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 8,554 | 8,917 |
Commercial Loans [Member] | Land [Member] | Substandard [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 384 | 384 |
Commercial Loans [Member] | Land [Member] | Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 384 | 384 |
Commercial Loans [Member] | Construction [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 49,858 | 38,812 |
Commercial Loans [Member] | Construction [Member] | Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 49,858 | 38,812 |
Commercial Loans [Member] | Secured [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 79,074 | 63,182 |
Commercial Loans [Member] | Secured [Member] | Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 68,611 | 53,801 |
Commercial Loans [Member] | Secured [Member] | Special Mention [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 22 | 3,037 |
Commercial Loans [Member] | Secured [Member] | Substandard [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 10,441 | 6,344 |
Commercial Loans [Member] | Secured [Member] | Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 10,441 | 6,344 |
Commercial Loans [Member] | Unsecured [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 4,182 | 2,831 |
Commercial Loans [Member] | Unsecured [Member] | Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 4,081 | 2,728 |
Commercial Loans [Member] | Unsecured [Member] | Substandard [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 101 | 103 |
Commercial Loans [Member] | Unsecured [Member] | Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 101 | 103 |
Residential Mortgage Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 780,395 | 774,583 |
Residential Mortgage Loans [Member] | Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 774,458 | 767,820 |
Residential Mortgage Loans [Member] | Special Mention [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 107 | 111 |
Residential Mortgage Loans [Member] | Substandard [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 5,830 | 6,652 |
Residential Mortgage Loans [Member] | Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 5,830 | 6,652 |
Residential Mortgage Loans [Member] | Construction [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 38,994 | 40,898 |
Residential Mortgage Loans [Member] | Construction [Member] | Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 38,994 | 40,898 |
Residential Mortgage Loans [Member] | One-to Four-Family [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 741,401 | 733,685 |
Residential Mortgage Loans [Member] | One-to Four-Family [Member] | Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 735,464 | 726,922 |
Residential Mortgage Loans [Member] | One-to Four-Family [Member] | Special Mention [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 107 | 111 |
Residential Mortgage Loans [Member] | One-to Four-Family [Member] | Substandard [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 5,830 | 6,652 |
Residential Mortgage Loans [Member] | One-to Four-Family [Member] | Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 5,830 | 6,652 |
Consumer Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 187,323 | 188,258 |
Consumer Loans [Member] | Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 184,880 | 185,466 |
Consumer Loans [Member] | Special Mention [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 2 | 2 |
Consumer Loans [Member] | Substandard [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 2,441 | 2,790 |
Consumer Loans [Member] | Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 2,441 | 2,790 |
Consumer Loans [Member] | Home Equity [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 158,933 | 161,338 |
Consumer Loans [Member] | Home Equity [Member] | Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 157,121 | 159,371 |
Consumer Loans [Member] | Home Equity [Member] | Substandard [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 1,812 | 1,967 |
Consumer Loans [Member] | Home Equity [Member] | Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 1,812 | 1,967 |
Consumer Loans [Member] | Auto [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 13,752 | 11,348 |
Consumer Loans [Member] | Auto [Member] | Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 13,719 | 11,304 |
Consumer Loans [Member] | Auto [Member] | Special Mention [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 2 | 2 |
Consumer Loans [Member] | Auto [Member] | Substandard [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 31 | 42 |
Consumer Loans [Member] | Auto [Member] | Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 31 | 42 |
Consumer Loans [Member] | Marine [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 2,603 | 2,699 |
Consumer Loans [Member] | Marine [Member] | Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 2,300 | 2,428 |
Consumer Loans [Member] | Marine [Member] | Substandard [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 303 | 271 |
Consumer Loans [Member] | Marine [Member] | Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 303 | 271 |
Consumer Loans [Member] | Recreational Vehicle [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 9,677 | 10,656 |
Consumer Loans [Member] | Recreational Vehicle [Member] | Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 9,385 | 10,157 |
Consumer Loans [Member] | Recreational Vehicle [Member] | Substandard [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 292 | 499 |
Consumer Loans [Member] | Recreational Vehicle [Member] | Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 292 | 499 |
Consumer Loans [Member] | Other [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 2,358 | 2,217 |
Consumer Loans [Member] | Other [Member] | Unclassified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 2,355 | 2,206 |
Consumer Loans [Member] | Other [Member] | Substandard [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 3 | 11 |
Consumer Loans [Member] | Other [Member] | Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | $ 3 | $ 11 |
Mortgage Banking Activities - A
Mortgage Banking Activities - Additional Information (Detail) - USD ($) $ in Millions | Mar. 31, 2016 | Dec. 31, 2015 |
Mortgage Loan Activity [Line Items] | ||
Mortgage loans serviced for others | $ 1,100 | $ 1,100 |
Fair value of mortgage servicing rights | 8 | 9.1 |
FHLMC and FNMA [Member] | ||
Mortgage Loan Activity [Line Items] | ||
Customer escrow balances | $ 12 | $ 13.2 |
Mortgage Banking Activities - P
Mortgage Banking Activities - Principal Balance of Mortgage Servicing Rights (Detail) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Mortgage loan portfolios serviced for: | ||
Mortgage loans serviced for others | $ 1,100,000 | $ 1,100,000 |
FHLMC [Member] | ||
Mortgage loan portfolios serviced for: | ||
Mortgage loans serviced for others | 896,553 | 878,300 |
FNMA [Member] | ||
Mortgage loan portfolios serviced for: | ||
Mortgage loans serviced for others | $ 228,074 | $ 233,026 |
Mortgage Banking Activities - C
Mortgage Banking Activities - Capitalized Mortgage Servicing Rights (Detail) - USD ($) $ in Thousands | 3 Months Ended | |||
Mar. 31, 2016 | Mar. 31, 2015 | Dec. 31, 2015 | Dec. 31, 2014 | |
Mortgage Banking [Abstract] | ||||
Beginning balance | $ 5,686 | $ 5,535 | ||
Originations | 509 | 451 | ||
Amortized to expense | (468) | (443) | ||
Ending balance | 5,727 | 5,543 | ||
Less valuation allowance | (474) | (219) | $ (39) | $ (58) |
Net balance | $ 5,253 | $ 5,324 |
Mortgage Banking Activities - V
Mortgage Banking Activities - Valuation Allowance for Mortgage Servicing Rights (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Mortgage Banking [Abstract] | ||
Balance, beginning of period | $ (39) | $ (58) |
Impairment charges | (435) | (161) |
Balance, end of period | $ (474) | $ (219) |
Mortgage Banking Activities - K
Mortgage Banking Activities - Key Economic Assumptions in Measuring Value of Mortgage Servicing Rights (Detail) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2016 | Dec. 31, 2015 | |
Mortgage Banking [Abstract] | ||
Weighted average prepayment rate | 252.00% | 192.00% |
Weighted average life (in years) | 3 years 5 months 5 days | 3 years 5 months 19 days |
Weighted average discount rate | 9.00% | 9.00% |
Other Real Estate Owned and O63
Other Real Estate Owned and Other Repossessed Assets - Real Estate Owned and Other Repossessed Assets (Detail) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 | Mar. 31, 2015 | Dec. 31, 2014 |
Other Real Estate And Foreclosed Assets [Abstract] | ||||
Real estate owned and other repossessed assets | $ 2,970 | $ 3,956 | ||
Valuation allowance | (1,124) | (1,229) | $ (1,244) | $ (1,423) |
End of period | $ 1,846 | $ 2,727 |
Other Real Estate Owned and O64
Other Real Estate Owned and Other Repossessed Assets - Valuation Allowance Related to Real Estate Owned (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Other Real Estate And Foreclosed Assets [Abstract] | ||
Beginning of period | $ 1,229 | $ 1,423 |
Additions charged to expense | 1 | 80 |
Reductions due to sales | (106) | (259) |
End of period | $ 1,124 | $ 1,244 |
Other Real Estate Owned and O65
Other Real Estate Owned and Other Repossessed Assets - Expenses Related to Foreclosed and Repossessed Assets (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Other Real Estate And Foreclosed Assets [Abstract] | ||
Net (gain) loss on sales | $ 12 | $ 10 |
Provision for unrealized losses, net | 1 | 80 |
Operating expenses, net of rental income | 72 | 141 |
Total expenses | $ 85 | $ 231 |
Fair Value Measurement - Additi
Fair Value Measurement - Additional Information (Detail) - USD ($) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | Dec. 31, 2015 | |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Increase in fair value | $ 250,000 | ||
Derivative instrument maximum maturity period | 30 years | ||
Transfers between level 1 and level 2 | $ 0 | $ 0 | |
Transfers between level 2 and level 3 | 0 | 0 | |
Fair value of the collateral dependent loans, net carrying amount | 8,300,000 | $ 4,500,000 | 4,900,000 |
Specific allowance for collateral dependent loans | $ 1,000,000 | 678,000 | 548,000 |
Discount applied to appraisals for estimated selling costs percentage | 10.00% | ||
Mortgage servicing rights carried at fair value | $ 2,700,000 | 1,500,000 | 604,000 |
Mortgage servicing rights carried at fair value, valuation allowance net change during the period | 474,000 | 219,000 | |
Net impairment (recovery) reflected in other income | 435,000 | 161,000 | |
Other real estate owned carried at fair value, net | 1,300,000 | ||
Other real estate owned carried at fair value | 2,900,000 | 2,000,000 | |
Valuation allowance related to other real estate owned | 1,100,000 | 1,200,000 | $ 1,200,000 |
Additions charged to expense | $ 1,000 | 80,000 | |
Maximum maturity period of short term borrowings | 90 days | ||
Collateral Dependent Loans [Member] | |||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Increase (decrease) in provision for loan losses | $ 3,000,000 | $ (35,000) | |
Construction [Member] | Fair Value, Measurements, Recurring [Member] | |||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Fair value option, loans held as assets, aggregate amount in nonaccrual status | $ 0 |
Fair Value Measurement - Assets
Fair Value Measurement - Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Available for sale securities, Fair value | $ 365,369 | $ 357,670 |
Loans held for sale, at fair value | 32,007 | 26,716 |
Fair Value, Measurements, Recurring [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Loans held for sale, at fair value | 32,007 | 26,716 |
Interest rate caps | 3 | |
Purchased certificate of deposit option | 913 | 805 |
Written certificate of deposit option | 913 | 805 |
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 | 212,898 | 218,650 |
Fair Value, Measurements, Recurring [Member] | States of the U.S. and Political Subdivisions [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Available for sale securities, Fair value | 35,740 | 11,040 |
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 | 116,731 | 127,980 |
Fair Value, Measurements, Recurring [Member] | 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 | 5,247 | |
Purchased certificate of deposit option | 913 | 805 |
Written certificate of deposit option | 913 | 805 |
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 | 212,898 | 218,650 |
Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | States of the U.S. and Political Subdivisions [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Available for sale securities, Fair value | 35,740 | 11,040 |
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 | 116,731 | 127,980 |
Fair Value, Measurements, Recurring [Member] | 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 | $ 26,760 | 26,716 |
Interest rate caps | $ 3 |
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 | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ||
Included in change in fair value of loans held for sale | $ 804 | $ 561 |
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 | 3 | 180 |
Included in other income | 127 | 75 |
Included in other comprehensive income | 0 | 0 |
Purchases | 0 | 0 |
Amortization | (130) | (129) |
Sales | 0 | 0 |
Balance of recurring Level 3 assets at end of period | 126 | |
Loans Held For Sale [Member] | ||
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ||
Balance of recurring Level 3 assets at beginning of period | 26,716 | |
Included in change in fair value of loans held for sale | 669 | 561 |
Included in other comprehensive income | 0 | 0 |
Originations/Draws on construction perm loans | 16,687 | 1,047 |
Sales | (17,312) | 0 |
Balance of recurring Level 3 assets at end of period | $ 26,760 | $ 1,608 |
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) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2016 | Dec. 31, 2015 | |
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Loans held for sale, at fair value | $ 32,007 | $ 26,716 |
Fair Value, Measurements, Recurring [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Loans held for sale, at fair value | 32,007 | 26,716 |
Interest rate caps | 3 | |
Fair Value, Measurements, Recurring [Member] | Comparable Sales [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Loans held for sale, at fair value | $ 26,760 | 26,716 |
Fair Value, Measurements, Recurring [Member] | Discounted Cash Flow [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Interest rate caps | $ 3 | |
Fair Value, Measurements, Recurring [Member] | Minimum [Member] | Comparable Sales [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Fair Value Inputs, Time Discount | 0.00% | 0.00% |
Fair Value, Measurements, Recurring [Member] | Minimum [Member] | Discounted Cash Flow [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Fair Value Inputs, Discount rate | 0.49% | 0.49% |
Fair Value, Measurements, Recurring [Member] | Maximum [Member] | Comparable Sales [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Fair Value Inputs, Time Discount | 1.80% | 1.80% |
Fair Value, Measurements, Recurring [Member] | Maximum [Member] | Discounted Cash Flow [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Fair Value Inputs, Discount rate | 1.18% | 1.18% |
Fair Value Measurement - Asse70
Fair Value Measurement - Assets and Liabilities Measured on Non-recurring Basis (Detail) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Mortgage Servicing Rights [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Mortgage servicing rights | $ 2,704 | $ 604 |
Fair Value, Measurements, Nonrecurring [Member] | Nonresidential [Member] | Commercial Loans [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Impaired loans | 6,458 | 2,857 |
Other real estate owned, net | 175 | 175 |
Fair Value, Measurements, Nonrecurring [Member] | Secured [Member] | Commercial Loans [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Impaired loans | 546 | |
Fair Value, Measurements, Nonrecurring [Member] | Home Equity [Member] | Consumer Loans [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Impaired loans | 3 | 392 |
Fair Value, Measurements, Nonrecurring [Member] | Auto [Member] | Consumer Loans [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Impaired loans | 4 | 1 |
Fair Value, Measurements, Nonrecurring [Member] | Marine [Member] | Consumer Loans [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Impaired loans | 163 | |
Fair Value, Measurements, Nonrecurring [Member] | Recreational Vehicle [Member] | Consumer Loans [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Impaired loans | 213 | |
Fair Value, Measurements, Nonrecurring [Member] | Construction [Member] | Commercial Loans [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Other real estate owned, net | 785 | 785 |
Fair Value, Measurements, Nonrecurring [Member] | Land [Member] | Commercial Loans [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Impaired loans | 175 | |
Significant Other Observable Inputs (Level 2) [Member] | Mortgage Servicing Rights [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Mortgage servicing rights | 2,704 | 604 |
Significant Unobservable Inputs (Level 3) [Member] | Fair Value, Measurements, Nonrecurring [Member] | Nonresidential [Member] | Commercial Loans [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Impaired loans | 6,458 | 2,857 |
Other real estate owned, net | 175 | 175 |
Significant Unobservable Inputs (Level 3) [Member] | Fair Value, Measurements, Nonrecurring [Member] | Secured [Member] | Commercial Loans [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Impaired loans | 546 | |
Significant Unobservable Inputs (Level 3) [Member] | Fair Value, Measurements, Nonrecurring [Member] | Home Equity [Member] | Consumer Loans [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Impaired loans | 3 | 392 |
Significant Unobservable Inputs (Level 3) [Member] | Fair Value, Measurements, Nonrecurring [Member] | Auto [Member] | Consumer Loans [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Impaired loans | 4 | 1 |
Significant Unobservable Inputs (Level 3) [Member] | Fair Value, Measurements, Nonrecurring [Member] | Marine [Member] | Consumer Loans [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Impaired loans | 163 | |
Significant Unobservable Inputs (Level 3) [Member] | Fair Value, Measurements, Nonrecurring [Member] | Recreational Vehicle [Member] | Consumer Loans [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Impaired loans | 213 | |
Significant Unobservable Inputs (Level 3) [Member] | Fair Value, Measurements, Nonrecurring [Member] | Construction [Member] | Commercial Loans [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Other real estate owned, net | 785 | 785 |
Significant Unobservable Inputs (Level 3) [Member] | Fair Value, Measurements, Nonrecurring [Member] | Land [Member] | Commercial Loans [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Impaired loans | 175 | |
Residential Mortgage Loans [Member] | Fair Value, Measurements, Nonrecurring [Member] | One-to Four-Family [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Impaired loans | 867 | 1,493 |
Other real estate owned, net | 344 | 1,088 |
Residential Mortgage Loans [Member] | Significant Unobservable Inputs (Level 3) [Member] | Fair Value, Measurements, Nonrecurring [Member] | One-to Four-Family [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Impaired loans | 867 | 1,493 |
Other real estate owned, net | $ 344 | $ 1,088 |
Fair Value Measurement - Quan71
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 | 3 Months Ended | 12 Months Ended |
Mar. 31, 2016 | Dec. 31, 2015 | |
Impaired Loans [Member] | Nonresidential [Member] | Commercial Loans [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Fair Value | $ 6,458 | $ 2,857 |
Impaired Loans [Member] | Nonresidential [Member] | Commercial Loans [Member] | Minimum [Member] | Sales Comparison Approach [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Adjustment for differences between comparable sales | 0.00% | 9.19% |
Impaired Loans [Member] | Nonresidential [Member] | Commercial Loans [Member] | Maximum [Member] | Sales Comparison Approach [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Adjustment for differences between comparable sales | 35.00% | 12.38% |
Impaired Loans [Member] | Nonresidential [Member] | Commercial Loans [Member] | Weighted Average [Member] | Sales Comparison Approach [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Adjustment for differences between comparable sales | 14.14% | 10.79% |
Impaired Loans [Member] | Secured [Member] | Commercial Loans [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Fair Value | $ 546 | |
Impaired Loans [Member] | Secured [Member] | Commercial Loans [Member] | Minimum [Member] | Sales Comparison Approach [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Adjustment for differences between comparable sales | 0.00% | |
Impaired Loans [Member] | Secured [Member] | Commercial Loans [Member] | Maximum [Member] | Sales Comparison Approach [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Adjustment for differences between comparable sales | 27.47% | |
Impaired Loans [Member] | Secured [Member] | Commercial Loans [Member] | Weighted Average [Member] | Sales Comparison Approach [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Adjustment for differences between comparable sales | 13.74% | |
Impaired Loans [Member] | Home Equity [Member] | Consumer Loans [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Fair Value | $ 3 | $ 392 |
Impaired Loans [Member] | Home Equity [Member] | Consumer Loans [Member] | Minimum [Member] | Sales Comparison Approach [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Adjustment for differences between comparable sales | 0.00% | 0.00% |
Impaired Loans [Member] | Home Equity [Member] | Consumer Loans [Member] | Maximum [Member] | Sales Comparison Approach [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Adjustment for differences between comparable sales | 17.85% | 17.85% |
Impaired Loans [Member] | Home Equity [Member] | Consumer Loans [Member] | Weighted Average [Member] | Sales Comparison Approach [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Adjustment for differences between comparable sales | 8.93% | 8.93% |
Impaired Loans [Member] | Auto [Member] | Consumer Loans [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Fair Value | $ 4 | |
Impaired Loans [Member] | Auto [Member] | Consumer Loans [Member] | Minimum [Member] | Sales Comparison Approach [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Adjustment for differences between comparable sales | 0.00% | |
Impaired Loans [Member] | Auto [Member] | Consumer Loans [Member] | Maximum [Member] | Sales Comparison Approach [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Adjustment for differences between comparable sales | 10.00% | |
Impaired Loans [Member] | Auto [Member] | Consumer Loans [Member] | Weighted Average [Member] | Sales Comparison Approach [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Adjustment for differences between comparable sales | 10.00% | |
Impaired Loans [Member] | Marine [Member] | Consumer Loans [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Fair Value | $ 163 | |
Impaired Loans [Member] | Marine [Member] | Consumer Loans [Member] | Minimum [Member] | Sales Comparison Approach [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Adjustment for differences between comparable sales | 0.00% | |
Impaired Loans [Member] | Marine [Member] | Consumer Loans [Member] | Maximum [Member] | Sales Comparison Approach [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Adjustment for differences between comparable sales | 37.00% | |
Impaired Loans [Member] | Marine [Member] | Consumer Loans [Member] | Weighted Average [Member] | Sales Comparison Approach [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Adjustment for differences between comparable sales | 37.00% | |
Impaired Loans [Member] | Recreational Vehicle [Member] | Consumer Loans [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Fair Value | $ 213 | |
Impaired Loans [Member] | Recreational Vehicle [Member] | Consumer Loans [Member] | Minimum [Member] | Sales Comparison Approach [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Adjustment for differences between comparable sales | 0.00% | |
Impaired Loans [Member] | Recreational Vehicle [Member] | Consumer Loans [Member] | Maximum [Member] | Sales Comparison Approach [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Adjustment for differences between comparable sales | 37.00% | |
Impaired Loans [Member] | Recreational Vehicle [Member] | Consumer Loans [Member] | Weighted Average [Member] | Sales Comparison Approach [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Adjustment for differences between comparable sales | 37.00% | |
Impaired Loans [Member] | Land [Member] | Commercial Loans [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Fair Value | $ 175 | |
Impaired Loans [Member] | Land [Member] | Commercial Loans [Member] | Minimum [Member] | Sales Comparison Approach [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Adjustment for differences between comparable sales | 0.00% | |
Impaired Loans [Member] | Land [Member] | Commercial Loans [Member] | Maximum [Member] | Sales Comparison Approach [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Adjustment for differences between comparable sales | 27.47% | |
Impaired Loans [Member] | Land [Member] | Commercial Loans [Member] | Weighted Average [Member] | Sales Comparison Approach [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Adjustment for differences between comparable sales | 13.74% | |
Impaired Loans [Member] | Residential Mortgage Loans [Member] | One-to Four-Family [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Fair Value | $ 867 | $ 1,493 |
Impaired Loans [Member] | Residential Mortgage Loans [Member] | One-to Four-Family [Member] | Minimum [Member] | Sales Comparison Approach [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Adjustment for differences between comparable sales | 0.00% | 0.00% |
Impaired Loans [Member] | Residential Mortgage Loans [Member] | One-to Four-Family [Member] | Maximum [Member] | Sales Comparison Approach [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Adjustment for differences between comparable sales | 10.77% | 10.77% |
Impaired Loans [Member] | Residential Mortgage Loans [Member] | One-to Four-Family [Member] | Weighted Average [Member] | Sales Comparison Approach [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Adjustment for differences between comparable sales | 4.27% | 4.27% |
Other Real Estate Owned [Member] | Nonresidential [Member] | Commercial Loans [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Fair Value | $ 175 | $ 175 |
Other Real Estate Owned [Member] | Nonresidential [Member] | Commercial Loans [Member] | Minimum [Member] | Sales Comparison Approach [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Adjustment for differences between comparable sales | 40.00% | 40.00% |
Other Real Estate Owned [Member] | Nonresidential [Member] | Commercial Loans [Member] | Maximum [Member] | Sales Comparison Approach [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Adjustment for differences between comparable sales | 60.00% | 60.00% |
Other Real Estate Owned [Member] | Nonresidential [Member] | Commercial Loans [Member] | Weighted Average [Member] | Sales Comparison Approach [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Adjustment for differences between comparable sales | 50.00% | 50.00% |
Other Real Estate Owned [Member] | Construction [Member] | Commercial Loans [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Fair Value | $ 785 | $ 785 |
Other Real Estate Owned [Member] | Construction [Member] | Commercial Loans [Member] | Minimum [Member] | Sales Comparison Approach [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Adjustment for differences between comparable sales | 0.00% | 0.00% |
Other Real Estate Owned [Member] | Construction [Member] | Commercial Loans [Member] | Maximum [Member] | Sales Comparison Approach [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Adjustment for differences between comparable sales | 50.00% | 50.00% |
Other Real Estate Owned [Member] | Construction [Member] | Commercial Loans [Member] | Weighted Average [Member] | Sales Comparison Approach [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Adjustment for differences between comparable sales | 21.71% | 21.71% |
Other Real Estate Owned [Member] | Residential Mortgage Loans [Member] | One-to Four-Family [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Fair Value | $ 344 | $ 1,088 |
Other Real Estate Owned [Member] | Residential Mortgage Loans [Member] | One-to Four-Family [Member] | Minimum [Member] | Sales Comparison Approach [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Adjustment for differences between comparable sales | 0.00% | 0.00% |
Other Real Estate Owned [Member] | Residential Mortgage Loans [Member] | One-to Four-Family [Member] | Maximum [Member] | Sales Comparison Approach [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Adjustment for differences between comparable sales | 40.50% | 40.50% |
Other Real Estate Owned [Member] | Residential Mortgage Loans [Member] | One-to Four-Family [Member] | Weighted Average [Member] | Sales Comparison Approach [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Adjustment for differences between comparable sales | 15.51% | 15.51% |
Fair Value Measurement - Fair V
Fair Value Measurement - Fair Value Option for Newly Originated Permanent Construction Loans Held for Sale (Detail) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Aggregate fair value | $ 32,007 | $ 26,716 |
Construction [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Aggregate fair value | 32,007 | 26,716 |
Contractual balance | 29,684 | 25,197 |
Gain (loss) | $ 2,323 | $ 1,519 |
Fair Value Measurement - Amount
Fair Value Measurement - Amount of Gains and Losses from Changes in Fair Value Included in Earnings (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Change in fair value | $ 804 | $ 561 |
Construction [Member] | ||
Fair Value Inputs Assets Quantitative Information [Line Items] | ||
Change in fair value | 803 | 561 |
Total change in fair value | $ 803 | $ 561 |
Fair Value Measurement - Carryi
Fair Value Measurement - Carrying Value and Estimated Fair Values of Financial Instruments (Detail) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 | Mar. 31, 2015 | Dec. 31, 2014 |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||
Cash and cash equivalents, Carrying Value | $ 40,570 | $ 35,910 | $ 41,665 | $ 32,980 |
Available for sale securities, Fair value | 365,369 | 357,670 | ||
Held to maturity securities, Carrying Value | 107,838 | 110,699 | ||
Loans held for sale, Carrying Value | 3,991 | 9,085 | ||
Loans held for sale, at fair value | 32,007 | 26,716 | ||
Loans, net, Carrying Value | 1,359,146 | 1,316,192 | ||
FHLB stock, Carrying Value | 18,068 | 18,068 | ||
Accrued interest receivable, Carrying Value | 5,783 | 5,978 | ||
FHLB advances, Carrying Value | (291,170) | (278,975) | ||
Repurchase agreements and other, Carrying Value | (529) | (535) | ||
Advance payments by borrowers for taxes and insurance, Carrying Value | (16,247) | (21,174) | ||
Accrued interest payable, Carrying Value | (110) | (53) | ||
Held to maturity securities, Fair value | 108,702 | 109,644 | ||
Reported Value Measurement [Member] | ||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||
Cash and cash equivalents, Carrying Value | 40,570 | 35,910 | ||
Available for sale securities, Fair value | 365,369 | 357,670 | ||
Held to maturity securities, Carrying Value | 107,838 | 110,699 | ||
Loans held for sale, Carrying Value | 3,991 | 9,085 | ||
Loans held for sale, at fair value | 32,007 | 26,716 | ||
Loans, net, Carrying Value | 1,359,146 | 1,316,192 | ||
FHLB stock, Carrying Value | 18,068 | 18,068 | ||
Accrued interest receivable, Carrying Value | 5,783 | 5,978 | ||
Interest rate caps, Carrying Value | 3 | |||
Purchased certificate of deposit option, Carrying Value | 913 | 805 | ||
Checking, savings and money market accounts, Carrying Value | (1,026,318) | (980,783) | ||
Certificates of deposit, Carrying Value | (440,296) | (454,960) | ||
FHLB advances, Carrying Value | (291,170) | (278,975) | ||
Repurchase agreements and other, Carrying Value | (529) | (535) | ||
Advance payments by borrowers for taxes and insurance, Carrying Value | (16,247) | (21,174) | ||
Accrued interest payable, Carrying Value | (110) | (53) | ||
Written certificate of deposit option, Carrying Value | (913) | (805) | ||
Estimate of Fair Value Measurement [Member] | 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 | 40,570 | 35,910 | ||
Checking, savings and money market accounts, Fair Value | (1,026,318) | (980,783) | ||
Advance payments by borrowers for taxes and insurance, Fair Value | (16,247) | (21,174) | ||
Estimate of Fair Value Measurement [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||||
Available for sale securities, Fair value | 365,369 | 357,670 | ||
Loans held for sale, at fair value | 5,247 | 9,207 | ||
Held to maturity securities, Fair value | 107,595 | 108,536 | ||
Loans held for sale | 4,079 | |||
Accrued interest receivable, Fair Value | 2,095 | 2,276 | ||
Purchased certificate of deposit option, Fair Value | 913 | 805 | ||
Certificates of deposit, Fair Value | (444,173) | (459,433) | ||
FHLB advances, Fair Value | (291,070) | (279,053) | ||
Repurchase agreements and other, Fair Value | (540) | (548) | ||
Accrued interest payable, Fair Value | (110) | (53) | ||
Written certificate of deposit option, Fair Value | (913) | (805) | ||
Estimate of Fair Value Measurement [Member] | 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 | 26,760 | 26,716 | ||
Held to maturity securities, Fair value | 1,107 | 1,108 | ||
Loans, net, Fair Value | 1,365,391 | 1,322,338 | ||
Accrued interest receivable, Fair Value | $ 3,688 | 3,702 | ||
Interest rate caps, Fair Value | $ 3 |
Statement of Cash Flows Suppl75
Statement of Cash Flows Supplemental Disclosure - Supplemental Disclosures of Cash Flow Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Supplemental Cash Flow Information [Abstract] | ||
Interest on deposits and borrowings | $ 2,090 | $ 2,120 |
Supplemental schedule of noncash activities: | ||
Transfers from loans to real estate owned and other repossessed assets | $ 303 | $ 493 |
Earnings Per Share - Additional
Earnings Per Share - Additional Information (Detail) - shares | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Stock Option [Member] | ||
Earnings Per Common Share [Line Items] | ||
Number of anti-dilutive shares related to stock options | 71,891 | 74,083 |
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 | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Earnings Per Share [Abstract] | ||
Net income per consolidated statements of income | $ 3,320 | $ 3,686 |
Net income allocated to participating securities | (22) | (21) |
Net income allocated to common stock | 3,298 | 3,665 |
Distributed earnings allocated to common stock | 1,188 | 493 |
Undistributed earnings allocated to common stock | 2,110 | 3,172 |
Net income allocated to common stock | $ 3,298 | $ 3,665 |
Weighted average common shares outstanding, including shares considered participating securities | 47,587 | 49,291 |
Less: Average participating securities | (315) | (269) |
Weighted average shares | 47,272 | 49,022 |
Basic earnings per common share | $ 0.07 | $ 0.07 |
Weighted average common shares outstanding for basic earnings per common share | 47,272 | 49,022 |
Add: Dilutive effects of assumed exercises of stock options | 279 | 273 |
Weighted average shares and dilutive potential common shares | 47,551 | 49,295 |
Diluted earnings per common share | $ 0.07 | $ 0.07 |
Other Comprehensive Income (L78
Other Comprehensive Income (Loss) - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | Jun. 30, 2014 | |
Equity [Abstract] | |||
Reclassification of net gains or (losses) and impairment charges included in other comprehensive income | $ 153 | $ 11 | |
Effect of disproportionate tax on accumulated other comprehensive income (loss) | $ (16,600) |
Other Comprehensive Income (L79
Other Comprehensive Income (Loss) - Other Comprehensive Income (Loss) Components and Related Tax Effects (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Accumulated Other Comprehensive Income Loss [Line Items] | ||
Balances at beginning of period, net of tax | $ (19,220) | $ (19,998) |
Other comprehensive income before reclassifications | 6,528 | 3,897 |
Amortization of unrealized gains of postretirement plan recognized in other comprehensive income | (181) | |
Accretion of unrealized losses of securities transferred from available for sale to held to maturity recognized in other comprehensive income | 34 | |
Reclassification adjustment for gains realized in income | (99) | (7) |
Total other comprehensive income | 6,282 | 3,890 |
Balances at end of period, net of tax | (12,938) | (16,108) |
Unrealized Gains (Losses) on Securities Available for Sale [Member] | ||
Accumulated Other Comprehensive Income Loss [Line Items] | ||
Balances at beginning of period, net of tax | (2,492) | (4,315) |
Other comprehensive income before reclassifications | 6,528 | 3,897 |
Reclassification adjustment for gains realized in income | (99) | (7) |
Total other comprehensive income | 6,429 | 3,890 |
Balances at end of period, net of tax | 3,937 | (425) |
Disproportionate Tax Effect from Securities Available for Sale [Member] | ||
Accumulated Other Comprehensive Income Loss [Line Items] | ||
Balances at beginning of period, net of tax | (17,110) | (17,110) |
Balances at end of period, net of tax | (17,110) | (17,110) |
Losses on Securities Transferred From Available for Sale to Held to Maturity [Member] | ||
Accumulated Other Comprehensive Income Loss [Line Items] | ||
Balances at beginning of period, net of tax | (960) | |
Accretion of unrealized losses of securities transferred from available for sale to held to maturity recognized in other comprehensive income | 34 | |
Total other comprehensive income | 34 | |
Balances at end of period, net of tax | (926) | |
Unrealized Gains (Losses) from Postretirement Plan [Member] | ||
Accumulated Other Comprehensive Income Loss [Line Items] | ||
Balances at beginning of period, net of tax | 831 | 916 |
Amortization of unrealized gains of postretirement plan recognized in other comprehensive income | (181) | |
Total other comprehensive income | (181) | |
Balances at end of period, net of tax | 650 | 916 |
Disproportionate Tax Effect from Postretirement Plan [Member] | ||
Accumulated Other Comprehensive Income Loss [Line Items] | ||
Balances at beginning of period, net of tax | 511 | 511 |
Balances at end of period, net of tax | $ 511 | $ 511 |
Other Comprehensive Income (L80
Other Comprehensive Income (Loss) - Summary of Reclassification Out of Each Component of Accumulated Comprehensive Income (Loss) (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income On Derivatives [Line Items] | ||
Net gain on available for sale securities sold | $ (153) | $ (11) |
Tax expense | 1,592 | 1,815 |
Net income | (3,320) | (3,686) |
Amount Reclassified From Accumulated Other Comprehensive Income [Member] | ||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income On Derivatives [Line Items] | ||
Net income | (280) | |
Amount Reclassified From Accumulated Other Comprehensive Income [Member] | Unrealized Gains (Losses) on Securities Available for Sale [Member] | ||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income On Derivatives [Line Items] | ||
Net gain on available for sale securities sold | (153) | (11) |
Tax expense | 54 | 4 |
Net income | (99) | $ (7) |
Amount Reclassified From Accumulated Other Comprehensive Income [Member] | Amortization of Postretirement Benefits Prior Service Costs [Member] | ||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income On Derivatives [Line Items] | ||
Reduction in salaries and employee benefits | (278) | |
Tax expense | 97 | |
Net income | $ (181) |
Regulatory Capital Requiremen81
Regulatory Capital Requirements - Additional Information (Detail) | 3 Months Ended |
Mar. 31, 2016 | |
Banking And Thrift [Abstract] | |
Capital adequacy requirements | The Basel III Capital Rules establish a common equity Tier 1 minimum capital requirement (4.5% of risk-weighted assets), a minimum Tier 1 capital to risk-based assets requirement (6% of risk-weighted assets) and assigns a 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 rules also require 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 rule limits a banking organization’s capital distributions and certain discretionary bonus payments if the banking organization does not hold a “capital conservation buffer” consisting of 2.5% of common equity Tier 1 capital risk-based weighted assets in addition to the amount necessary to meeting its minimum risk-based capital requirements. |
Capital conservation buffer rate | 0.625% |
Regulatory Capital Requiremen82
Regulatory Capital Requirements - Actual and Statutory Required Capital Amounts and Ratios (Detail) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Home Savings [Member] | ||
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ||
Risk-based capital, Actual Amount | $ 245,669 | $ 240,697 |
Tier 1 capital to risk-weighted assets, Actual Amount | 228,894 | 224,486 |
Common equity Tier 1 capital to risk-weighted assets, Actual Amount | 228,894 | 224,486 |
Tier 1 capital to average total assets, Actual Amount | $ 228,894 | $ 224,486 |
Total risk-based capital to risk-weighted assets, Actual Ratio | 18.39% | 18.72% |
Tier 1 capital to risk-weighted assets, Actual Ratio | 17.13% | 17.46% |
Common equity Tier 1 capital to risk-weighted assets, Actual Ratio | 17.13% | 17.46% |
Tier 1 capital to average total assets, Actual Ratio | 11.53% | 11.46% |
Total risk-based capital to risk-weighted assets, Minimum Capital Amount | $ 115,224 | $ 102,879 |
Tier 1 capital to risk-weighted assets, Minimum Capital Amount | 88,506 | 77,159 |
Common equity Tier 1 capital to risk-weighted assets, Minimum Capital Amount | 68,467 | 57,869 |
Tier 1 capital to average total assets, Minimum Capital Amount | $ 79,427 | $ 78,347 |
Total risk-based capital to risk-weighted assets, Minimum Capital Ratio | 8.625% | 8.00% |
Tier 1 capital to risk-weighted assets, Minimum Capital Ratio | 6.625% | 6.00% |
Common equity Tier 1 capital to risk-weighted assets, Minimum Capital Ratio | 5.125% | 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 | $ 133,594 | $ 128,599 |
Tier 1 capital to risk-weighted assets, To Be Well Capitalized Amount | 106,875 | 102,879 |
Common equity Tier 1 capital to risk-weighted assets, To Be Well Capitalized Amount | 86,836 | 83,589 |
Tier 1 capital to average total assets, To Be Well Capitalized Amount | $ 99,284 | $ 97,934 |
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% | 8.00% |
Common equity Tier 1 capital to risk-weighted assets, To Be Well Capitalized Ratio | 6.50% | 6.50% |
Tier 1 capital to average total assets, To Be Well Capitalized Ratio | 5.00% | 5.00% |
United Community [Member] | ||
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ||
Risk-based capital, Actual Amount | $ 264,236 | $ 261,732 |
Tier 1 capital to risk-weighted assets, Actual Amount | 247,478 | 245,503 |
Common equity Tier 1 capital to risk-weighted assets, Actual Amount | 247,478 | 245,503 |
Tier 1 capital to average total assets, Actual Amount | $ 247,478 | $ 245,503 |
Total risk-based capital to risk-weighted assets, Actual Ratio | 19.81% | 20.35% |
Tier 1 capital to risk-weighted assets, Actual Ratio | 18.56% | 19.09% |
Common equity Tier 1 capital to risk-weighted assets, Actual Ratio | 18.56% | 19.09% |
Tier 1 capital to average total assets, Actual Ratio | 12.46% | 12.53% |
Total risk-based capital to risk-weighted assets, Minimum Capital Amount | $ 115,024 | $ 102,886 |
Tier 1 capital to risk-weighted assets, Minimum Capital Amount | 88,351 | 77,165 |
Common equity Tier 1 capital to risk-weighted assets, Minimum Capital Amount | 68,347 | 57,874 |
Tier 1 capital to average total assets, Minimum Capital Amount | $ 79,425 | $ 78,348 |
Total risk-based capital to risk-weighted assets, Minimum Capital Ratio | 8.625% | 8.00% |
Tier 1 capital to risk-weighted assets, Minimum Capital Ratio | 6.625% | 6.00% |
Common equity Tier 1 capital to risk-weighted assets, Minimum Capital Ratio | 5.125% | 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 | $ 133,361 | $ 128,608 |
Tier 1 capital to risk-weighted assets, To Be Well Capitalized Amount | 106,689 | 102,886 |
Common equity Tier 1 capital to risk-weighted assets, To Be Well Capitalized Amount | 86,684 | 83,595 |
Tier 1 capital to average total assets, To Be Well Capitalized Amount | $ 99,281 | $ 97,934 |
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% | 8.00% |
Common equity Tier 1 capital to risk-weighted assets, To Be Well Capitalized Ratio | 6.50% | 6.50% |
Tier 1 capital to average total assets, To Be Well Capitalized Ratio | 5.00% | 5.00% |
Regulatory Capital Requiremen83
Regulatory Capital Requirements - Components of Regulatory Capital (Detail) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 | Mar. 31, 2015 | Dec. 31, 2014 |
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ||||
Total shareholders' equity | $ 251,804 | $ 244,245 | $ 247,104 | $ 240,135 |
Accumulated other comprehensive income | (12,938) | (19,220) | $ (16,108) | $ (19,998) |
Home Savings [Member] | ||||
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ||||
Total shareholders' equity | 230,771 | 220,872 | ||
Accumulated other comprehensive income | 12,954 | 19,236 | ||
Intangible assets | (10) | (12) | ||
Disallowed deferred tax assets | (14,821) | (15,610) | ||
Tier 1 Capital | 228,894 | 224,486 | ||
Allowance for loan losses and allowance for unfunded lending commitments limited to 1.25% of total risk-weighted assets | 16,775 | 16,211 | ||
Total risk-based capital | 245,669 | 240,697 | ||
United Community [Member] | ||||
Compliance With Regulatory Capital Requirements Under Banking Regulations [Line Items] | ||||
Total shareholders' equity | 251,804 | 244,245 | ||
Accumulated other comprehensive income | 12,938 | 19,220 | ||
Intangible assets | (10) | (12) | ||
Disallowed deferred tax assets | (17,254) | (17,950) | ||
Tier 1 Capital | 247,478 | 245,503 | ||
Allowance for loan losses and allowance for unfunded lending commitments limited to 1.25% of total risk-weighted assets | 16,758 | 16,229 | ||
Total risk-based capital | $ 264,236 | $ 261,732 |
Regulatory Capital Requiremen84
Regulatory Capital Requirements - Components of Regulatory Capital (Parenthetical) (Detail) | Mar. 31, 2016 | Dec. 31, 2015 |
Home Savings [Member] | ||
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 [Member] | ||
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 | Mar. 31, 2016 | Dec. 31, 2015 |
Deferred tax assets: | ||
Loan loss reserves | $ 5,916 | $ 6,199 |
Postretirement benefits | 459 | 564 |
Depreciation | 671 | 611 |
Other real estate owned valuation | 393 | 430 |
Tax credits carryforward | 995 | 951 |
Unrealized loss on securities available for sale | 1,341 | |
Unrealized loss on securities held to maturity | 499 | 517 |
Interest on nonaccrual loans | 650 | 834 |
Net operating loss carryforward | 16,259 | 16,903 |
Purchase accounting adjustment | 91 | 90 |
Accrued bonuses | 321 | 723 |
Other | 106 | 50 |
Deferred tax assets | 26,360 | 29,213 |
Deferred tax liabilities: | ||
Deferred loan fees | 581 | 510 |
Federal Home Loan Bank stock dividends | 4,585 | 4,585 |
Mortgage servicing rights | 1,839 | 1,976 |
FHLB prepayment penalty | 990 | 1,059 |
Unrealized gains on securities available for sale | 2,120 | |
Postretirement benefits accrual | 350 | 447 |
Prepaid expenses | 292 | 215 |
Deferred tax liabilities | 10,757 | 8,792 |
Net deferred tax asset | $ 15,603 | $ 20,421 |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) - USD ($) | 3 Months Ended | |
Mar. 31, 2016 | Dec. 31, 2015 | |
Income Tax Disclosure [Abstract] | ||
DTA, net | $ 15,603,000 | $ 20,421,000 |
Operating loss carryforwards used against taxable income | $ 46,500,000 | |
Expiration dates, operating loss carried forward | Dec. 31, 2030 | |
Alternative minimum tax credits carried forward | $ 995,000 |
Business Combination - Addition
Business Combination - Additional Information (Detail) - USD ($) | Jan. 29, 2016 | Mar. 31, 2016 |
Business Acquisition [Line Items] | ||
Goodwill and other intangible assets | $ 1,620,000 | |
James & Sons Insurance Company [Member] | ||
Business Acquisition [Line Items] | ||
Business acquisition date | Jan. 29, 2016 | |
Business acquisition, company stock | $ 1,500,000 | |
Business acquisition, cash | $ 360,000 | |
Business acquisition, related costs | $ 0 | |
Business acquisition, consideration transferred, common shares issued, fair value method | The fair value of the 262,705 common shares issued, as part of the consideration paid for James & Sons Insurance, was determined based on the closing price per share for the 20 consecutive trading days ending five business days prior to January 29, 2016 | |
Business acquisition, common shares issued | 262,705 | |
Period of consecutive trading days for fair value assumptions of stock issued | 20 days | |
Period of business days prior to acquisition | 5 days | |
Business acquisition, total assets purchase | $ 2,300,000 | |
Goodwill and other intangible assets | $ 1,600,000 |